8718. American Bank (Hallowell, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 5, 1865
Location
Hallowell, Maine (44.286, -69.791)

Metadata

Model
gpt-5-mini
Short Digest
5690ea49

Response Measures

None

Description

The American Bank of Hallowell was placed in the hands of receivers by the Supreme Judicial Court in September 1865 and never resumed normal operations; later reports (1870–1875) describe winding up, payments of dividends by receivers, and suits against stockholders. No bank run is described in the articles; the action was judicial/administrative following the Bank Commissioners' complaint.

Events (2)
1. September 5, 1865 Receivership
Newspaper Excerpt
the subscribers have been appointed by the Supremo Judicial Court, Receivers of the American Bank in Hallowell ... Six months from the twelith day of September instant are allowed to the creditors of said Bank to present and prove their claims. H. K. BAKER, Receivers. SIMON PAGE, E. ROWELL, Hallowell; Sept, 26, 1865, 40w3mos
Source
newspapers
2. September 5, 1865 Suspension
Cause
Government Action
Cause Details
Injunction by the Supreme Judicial Court on complaint of the State Bank Commissioners leading to appointment of receivers; legal suspension of the bank's operations by court order.
Newspaper Excerpt
An injunction has been placed on the American Bank in that city by the Supreme Court, on complaint of the Bank Commissioners of this State. Messrs. H. K. Baker, Simon Page, and E. Rowell have been appointed Receivers
Source
newspapers

Newspaper Articles (10)
1. September 23, 1865 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, September 23, 1865

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ago, made his escape on Wednesday last from the jail at Alfred, where he has been confined since his examination-and has not yet been found. His trial was to have taken place at this term of Court, which commenced its session at Alfred last Tuesday. The Biddeford Union-says Oliver Cutts' store and stable at Kittery Point, together with eight of hay, destroyed by an incendiary fire on Monday evening. Loss $2,700. The buildings were insured. We learn from the Union that the Yarn Factory at Kennebunki to be enlarged and put into operation immediately, having been leased by manufacturers from New Hamphire. The Union says a ship of about 900 tons, called "Priscilla," was launched on Wednesday from the yard of Messrs. A. & E. Perkins. She is copper bottomed, built of white oak, and is to be commanded by Capt. York. She was built for the Messrs. McManus of wick. The citizens of Kennebunk were called out twice last Sabbath, on account of the fires burning in the woods, The high wind carried the embers and scattered them over the village half a mile distant, greatly endangering it to a general conflagration. White ducks, according to the Bangor Whig, are taken in great quantities in Eddingabout twelve miles from that city. They alight inlarge numbers upon the water, and are caught in box traps set the shore, to which they are tolled by food of which they are fond. They are then kept and fattened for market, and sent on alive. The editor two or three hundred of them which going to the Boston market. A thief in Bangor, according to the Times, stole a pocket-book containing $400 in 7-30 bonds, from a coat which gentleman had laid aside for the purpose of trying on a new one. Before the owner of the pocket-book could advertise it, it was returned to him, with all its contents-the would-be-thief's conscience constraining him to give up that which he had so dishonestly obtained. The Hallowell Gazette says an injunotion has been placed on the American Bank in that city by the Supreme Court, on complaint of the Bank Commissioners of this State. Messrs. H. K. Baker, Simon Page, and E. Rowell have been appointed Receivers, and the affairs of the Bank have been placed in their jurisdiction for investigation and settlement. The necessaay legal steps will immediately be taken to notify bill-holders and all other creditors of the bank to present their claims. The dwelling house of Isaac Loring and a barn owned by Robert Loring in Perry, were burned on Friday of last week. The Eastport Sentinel says a man fell overboard from the steamer New Brunswick asshe was going out of that harbor on Monday. The steamer was stopped and a boat lowered, but the man was taken on board of a small boat that was sailing near, and brought back to town. He is a sailor, recently of the British sch. Cer S. The Ellsworth American says Mr. Seth T. Jellison of North Ellsworth one day last week shot an old bear that hadbeen committing depredations upon the sheep in that neighborborhood. The gun used was one that was surrendered by the French to the British troops at Louisburg, N. S., in 1755. This same gun was used in the battles at Concord, Lexington and Bunker Hill, and also at the siege of Castine, and in the war of 1812 with Great Britain. Its history is traced back for 110 years. The American says the crop of potatoes in the vicinity of Ellsworth is a light one. A branch line of telegraph is in process of construction from Thomaston to Tenants Harbor, St. George. We learn from the Oxford Democrat that a young man named Hodgden, belonging in Byron, was severely wounded last week, at the Lakes, by the accidental discharge of his gun. In drawing it from the boat, by the muzzle, the hammer struck, and the whole charge passed through his arm, near the shoulder. He is doing well, 17 The Democrat says some two weeks ago, dwelling house of Mrs. Lang, of Bryant's Pond, a soldier's widow, was entered during her absence from home. Every trunk was broken open, and some of them cut up. It is supposed the robber was in search of a small sum in bonds, which she fortunately had with her. 17 It is very seldom that both father and son are elected to the Legislature, but such a case occurs this year. Reuben B. Foster is elected Representative from the district of Bethel, Hanover, &c., and his son Reuben is elected Representative from Waterville. Both are staunch Union men. The last case of this kind we remember, was when old Mr. Vance was elected from Readfield and his son J. P.

2. October 4, 1865 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, October 4, 1865

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American Bank. OTICE is hereby given, that the subscribers have N been appointed by the Supremo Judicial Court, Receivers of the American Bank in Hallowell, and have been qualified according to law. Six months from the twelith day of September instant are allowed to the creditors of said Bank to present and prove their claims. Claimants will be required, when deemed necessary, to verify their claims by oath or affirmation. The Receivers will be in session at the office of II, K, BAKER, Esq., in Hallowell, on Saturday of each week in October, November and December, 1865 and on the first Saturday in January, February and March, 1850, to receive and examine the claims of bill holders and others against said Bank. H. K. BAKER, Receivers. SIMON P 1 GE, E. ROWELL, Hallowell; Sept, 26, 1865, 40w3mos

3. October 6, 1865 Oxford Democrat Paris, South Paris, ME
Article from Oxford Democrat, October 6, 1865

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AMERICAN BANK. The Receivers appointed to wind up the affairs of this bank give notice that six months from the 12th day of September are allowed for creditors to file their claims. They meet at the office of H. K. Baker, Hallowell, each Saturday in October, November and December, and the first Saturday in January. February and March to receive and examine claims of bill-holders and others. The Receivers are H. K. Baker, Simon Page and E. Rowell.

4. March 9, 1866 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, March 9, 1866

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ITEMS OF STATE NEWS. Weare informed by reliable parties who have recently returned from the "woods" that in spite of the thaws and lateness of getting to work, most teams will do as good a winter's work as was done last year. But very few teams have come out at this date in consequence of the rains.-[Hancock Journal. The Aroostook Pioneer has just learned from the Anson Advocate that Secretary McCullcoh is a native of Maine. bar We regret to learn of the death of Albert F. Thomas, formerly Captain of the Second Maine Battery. He died at Roxbury, Mass., last week, where he had entered into business. He served his country well in the army, and deserves to be remembered among its defenders. Brevet Brig. Gen. F. D. Sewall who has been awaiting orders fer some weeks past at his home in Bath, has received orders from the War Department to report to Maj. Gen. Howard for duty. We learn by the Bangor Whig that Maj. Whiting 8. Clark was admitted to the Bar of the Supreme Judicial Court last week, Judge Cutting presiding, to practice as a Counsellor and Attorney at law. Major Clark entered the service in the First Maine Heavy Artillery upongraduation from Waterville College, and has been a student in Mr. Paine's office for the past year. He was also Assistant Secretary of the Maine Senate the past session of the Legislature. He intends to open an office in Bangor. Between the 20th January and 24th February, hardly more than a month, Edmond P. and Elbritania Littlefield, of East Wilton, lost their whole family of four children, from nine to eighteen years of age, by diptheria. At the meeting of the Maine Central Railroad Company in Waterville last week, the matter of connecting with a line of steamers between Portland and Boston, was discussed among the Directors and Stockholders, and the prevailing opinion was, that unless more favorable terms can be obtained from the Boston roads, both the Maine Central and Portland and Kennebec roads ought to connect with the steamers. KIT The total indebtedness of the city of Belfast, as reported by the treasurer amounts to $40,144. An increase of about $4,000 during the year, is owing to purchases of fire apparatus. A meteorological chap, reporting in the Gardiner Journal, says the inhabitants of that favored locality were "entitled" to one more stinging cold night this winter, the mercury having fallen below zero only twenty-one times which is one less than the average. Gen. Chamberlain will deliver his lecture on "The 20th Maine Regiment at the Battle of Gettysburg," in Farmington, next Monday. The new hall in the granite block, corner of Water street and Market square, Augusta, was dedicated Monday evening. The hall will seat 1500 persons and can be cleared in two minutes. The exercises consisted of speeches, music both vocal and instrumental, an original ode, all concluded by dancing. Messrs. Bailey & Brown announce the publication of a new paper in Gardiner, under the name of the Kennebec Reporter, the first number to be issued on Friday, March 9th. The publishers promise to make it "a strictly moral home newspaper, neutral in politics, and ready at all times to wage war against all wrong and oppression." The time for the redemption of bills on the American Bank, Hallowell, by the Receivers, expires on the 12th of March. Unless sent in previous to that date they will be worthless. Eagle Engine Co. No. 3, of Bangor, is destined to become famous. A fire company that talked of buying a library instead of card tables was strange enough; but these chaps voted Monday evening to give cheir trowsers to the freedmen. Whether they will buy a new uniform or adopt the Scottish mode, the Times, which regards their example as," worthy of imitation," does not relate.

5. January 17, 1867 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 17, 1867

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The liability of the following banks to redeem their bills, expires in 1868: Biddeford Bank, - Biddeford. Bucksport Bank. Bucksport. Calais Bank, - Calais. City Bank, - Biddeford. Frontier Bank, Eastport. Medomak Bank, Waldoborough. Newcastle Bank, Newcastle. North Berwick Bank, - North Berwick. Ocean Bank, - Kennebnnk. Pejepscot Bank, Brunswick. Rockland Bank, - Rockland. Sagadahoe Bank, Bath. South Berwick Bank, South Berwick. Traders' Bank, Bangor. Village Bank, Bowdoinham. Waldoborough Bank, Waldoborough. York Bank, Saco. All the banks whose legal liabilities have expired are promptly redeeming their bills as presented, except the State Bank at Augusta which after giving a margin of one year from Jan. 1, 1866, when its liability ceased, now claims the benefit of the statute limitation. The receivers report the assets of the Sanford Bank insuflicient to pay the claims against the bank by $9,144. The affairs of the American Bank, Hallowell, are still unadjusted. The receivers express the opinion that the debtors of the bank are well able to pay a sufficient sum to meet all the claims proved, were they so disposed, and have applied for leave to commence the proper process to recover from the stockholders $10,000 more or less, to make up the deficiency of assets. There are now eighteen Savings Banks three having been incorporated during the past year. The deposits in these banks which diminished slightly in 1864 and 1865, have increased during the last year by $609,14S.This result is attributed by the Commissioners to the high premium and diminished sale of government securities. The deposits in Savings Banks have increased from $896,877 in 1858 to $3,946,434 in 1866. As an index of the thrift and prosperity of the middle class these figures are very encouraging. Of the entire deposits $2,005,215 are held by these institutions in the form of National, State and municipal stocks. The Commissioners sug" gest as a precautionary measure demanded by the frequent robberies of late and the evident partiality of thieves for these securities, tha each bank should take care to have all its bonds registered. Hitherto there has not been a loss in any of these institutions of a single dollar to any depositor. It is to be hoped that careful management will continue to justify and strengthen the public confidence in these "benevolent and charitable institutions," as the Commissioners, without exaggeration, call them.

6. January 9, 1868 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 9, 1868

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The State Banks. We have received the report of Messrs. A. C. Robbins and F. E. Webb, Bank Commissioners of the State. Only nine banks of discount remain under State charters. The other banks, sixty in number, are either closing up their affairs or have been converted into National banks. By an act of last winter the liability of banks to redeem their notes in specie was suspended till the 15th of February, 1868. The present legislature will, of course, pass an act of like purport, applying to the ensuing year. Thongh the liability of many of the banks that have surrendered their State charters to redeem their bills has expired, the Commissioners give the gratifying assurance that they have "yet to learn of a single instance where a State bill has been presented at the counter from which it originated without being promptly redeemed in current money." This is highly creditable to the honor of the corporations, and extremely pleasant for the careless or unfortunate holders of their notes, who omitted to present them in due time for redemption. The Commissioners comment with not quite enough severity upon the neglect of bank directors to conform to the provisions of the law respecting the destruction of bills by those officers. These provisions are intended to prevent fraud, and require that the burning of the bills shall be in the presence of a disinterested justice 0, the peace, before whom the directors are to make oath to the number and denomination thereof. Yet, says the report, "we notice one case where the records show three burnings of bills during the past year, amounting in the aggregate to over $50,000, and yet the records do not show that any magistrate was present, and the same are not verified by the oath of the directors." The report contains a tabular sta nent showing the circulation of the State banks of 1867 as compared with that of 1866, from which it appears that the circulation is now reduced from $850,937 to $260,422, being a reduction of something more than a million and a half. A brief reference IS made to the affairs of the American Bank, at Hallowell, which passed into the hands of receivers on the 5th of September, 1865. Its total indebtedness, including a circulation of $41,471, amounts to $43,310, while its assets have an estimated value of $35,000. The creditors of this bank who are becoming uneasy on account of the "law's delay in settling its affairs, are counselled to have "patience." The most cheerful feature of the report is that portion which relates to the savings banks. The Commissioners were fully prepared to learn that the amount of deposits in these institutions had considerably decreased during the past year, but to their astonishment they found that from $3,946,433.52 at the date of their last report the amount had increased to $5,598,600.26, a sum which, as the Governor triumphantly remarked in his address, considerably exceeds the whole State debt. More than two-fifths of the entire deposit are invested in United States securities. In connection with this fact the Commissionsay: We would call special attention to the amount of United States securities held by these several institutions, because we are frequently reminded of what is termed the injustice of the government in issuing United States bonds, exempt from taxation, and are often told with great assurance, and infinate commiseration for the poor, that none but the rich ho'd these bonds, and holding them they escape taxation, whereby an extra bnrden falls on the poor. Twonew savings banks have this year been added to the eighteen in existence last year. These are the Dexter Savings Bank, at Dexer, and the Lumberman's Bank, at Oldtown.

7. January 18, 1871 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 18, 1871

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The Bank Examiner's Report. Wm. Philbrick, Esq., Bank Examiner of the State, having visited the several savings institutions and banks of discount and deposit, will in a few days make his annual report. Of the 69 State banks doing business in the State in 1863, at the time of the Congressional enactment establishing a national currency, and having a capital of $8,008,000, fifty-seven have been replaced by national banks, four have been closed up without successors, three are in process of closing, and five, with a capital of $445,000, have been rechartered. Forty-nine of these banks are still liable to redeem their outstanding circulation. The bills are promptly met by the succeeding banks, or by individuals who assumed the liabilites. No State bank has issued its bills for six years, and it is presumed that but few of their bills are in existence, having been destroyed except in rare cases where people have laid them away so safely that they have been forgotten. Closing Banks. The American Bank of Hallowell, has been in the hands of Receivers since September, 1865, with no promise yet of a speedy adjustment of its affairs. Six months were allowed creditors to file their claims. Certificates were issued by the Receivers, during the time, amounting to $43,467.91. They have received from the assets of the bank, of principal and interest, $27,467.91, and have paid to redeem liens and mortgages $7,988.21, and for all other expenses and services $7,446.33, leaving a balance in their hands on the first of March, 1870, of $12,016.26, or about twenty-eight per cent. of the liabilities, exclusive of interest. At the March term, the Court ordered a dividend of twenty-five per cent. to be paid to such holdere of certificates as should surrender them and release their claims. $12,856.04 of the certificates have been surrendered, for which $3,214.01 has been paid, leaving $8,802.25 cash in the hands of the Receivers, and $30,

8. January 19, 1871 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, January 19, 1871

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DAILY PRESS. PORTLAND. THURSDAY, JANUARY 19, 1871. The Bank Examiner's Report. Wm. Philbrick, Esq., Bank Examiner of the State, having visited the several savings institutions and banks of discount and deposit, will in a few days make his annual report.Of the 69 State banks doing business in the State in 1863, at the time of the Congressional enactment establishing a national currency, and having a capital of $8,008,000, fifty-seven have been replaced by national banks, four have been closed up without successors, three are in process of closing, and five with a capital of $445,000, have been rechartered. Forty-nine of these banks are still liable to redeem their outstanding circulation. The bills are promptly met by the succeeding banks, or by individuals who assumed the liabilities. No State bank has issued its bills for six years and it is presumed that but few of their bills are in existence, having been destroyed ex. cept in rare cases where people have laid them awayso safely that they have been forgotten. Closing Banks. The American Bank of Hailowell, has been in the hands of receivers since September, 1865, with no promise yet of a speedy adjustment or its affairs. Six months were allowed creditors to file their claims. Certificates were issued by the receivers, during the time, amounting to $43,467 91Thev have received from the assets of the bank, of principal and interest, $27,467,91, and have paid to redeem liens and mortgages $7,988.21 and for all of ber expenses and services $7,446.33. leaving a balance in their hands on the first of March, 1870, of $12,016, 26, or about twenty eight per cent. of the liabilities, exclusive of interest. At the March term, the Court ordered a divident of twenty five per cent. to be paid to such holders of certificates as should surrender them and release their claims. $12,856.04 of the certificates have been surrendered, for which $3.214.01 has been paid, leaving $8 802 25 cash in the hand of the receivers, and $30,61187 onstanding certificates. At the October term, the Court directed the receivers to bring a bill in equity against the stockholders to cover the amount of the deficiency. The Alfred Bank has an undivided capital of $21,500. A committee chosen by the directors to investigate the affairs of the bank, reported in October last that they hoped to be able to make a final dividend of the assets very soon. The Searsport Bank still continues, with an undivided capital of $11,989 50, and a deposit of $11,886 67, the larger part of which is due to stockholders, it being a dividend of the capital, and is drawing interest. from the earnings of the bank. The cashiers says the affairs will be closed up very soon, with no loss of principal he thinks, to the stockholders. Since the last annual report of the Bank Examiner, the City Bank of Bath, and the Bank of Commerce of Belfast, have entirely closed their business. Rechartered Banks. Agreeably to the provisions of an act of the last Legislature, the following banks have extended their charters to the first of October, 1875: Eastern Bank, Bangor; Mercantile Bank, Bangor; North Bank, Rockland; Veaz'e Bank, Bangor.These Banks are in localities where more bank accommodations are required than can be obtained from the National Banks. Thus they accommodate the public, and being well managed, give their stockholders good dividends. Tables are given showing the condition of all the banks, with list of officers. Savings Banks. The present number of Savings Banks in the State is forty-three. Of these, seven commenced business since the last annual report of the Examiner, namely: Saco Savings Bank. Saco; Skowhegan Savings Bank, Skowhegan; Androscorgin County Savings Bank, Lewiston; Bucksport Savings Bank, Bucksport; Kennebec Savings Bauk, Augusta; North Anson Savings Bank, Anson; Thomaston Savings Bank, Thomaston. Two other banks have been organized which as yet have not commenced business, namely: Kittery Savings Bank, Kittery; Mechanic Falls Savings Bank, Minot. Ths total deposits of the Savings Banks of the State at the date of examination were $15,829,791.52. The nature of the securities in which these deposits are invested will be found in the following summary.

9. January 21, 1874 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 21, 1874

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Fred Atwood of Winterport was appointed receive, sort and count votes for Vice Presidents. The following were chosen: VICE PRESIDENTS-Chas. H. Haskell ,PortE. Dana, Jr., Portland; W. P. AtherHallowell; H. Leavitt, Skowhegan; Ezra Manter, Winterport; S. D. Stockwell, East Eddington; Seward Dill, Phillips; S. T. Holrook, Oxford; J. A. Lord, Kennebunk; rank Buck, Orland. C. H. Haskell of Portland, was appointed ommittee to receive, sort and count votes for Directors. The following gentlemen were hosen: DIRECTORS-Fred Atwood of Winterport; O. Conant of Portland; B. M. Hight of Skowhegan; W.E. Leighton of Augusta; B. Lewis of Deering; E. L. O. Adams of Portland. On motion of Mr. Conant, adjourned. The Maine Banks. Hon. W. W. Bolster, the Bank Examiner State, will shortly issue his annual report the Governor and Council. From it we earn that the present number of Banks of Discount and Deposit now doing business in he State, is three; the Savings Banks, fiftyall of which have been carefully and horoughly examined during the past year, an abstract of the examinations of the Savings Banks is given in the report, show. specifically and in detail the securities, esources and condition of each bank as it exon the day of its examination. BANKS OF DISCOUNT AND DEPOSIT.-Two the five banks of discount reported last have surrendered their charters, and or. (anized and commenced business as national anks-Veazie Bank, Bangor, and Lime Rock Bank, Rockland. The charters of the three emaining State banks will expire in October, 875, and probably a renewal of charter will be asked for. The outstanding circulaion%of these banks is $3,683. They have edeemed the past year 854. The affairs of the American Bank of Hallovell, which failed, was placed in the hands of Receivers in September, 1865. The amount ollected by the Receivers from assets, assessnents and costs paid in by stockholders, inerest from deposits, &c., is $40,250.35. Paid liens, mortgages, &c., and 25 per cent. on reditors claims, $19,545.99; leaving a balof $20,704.36. The outstanding certifiof claims proved against the bank mount to $30,096.24. The amount on hand yould pay a dividend of about 66 cents on the ollar. The holders of 211 shares have paid heir assessments. Compromises have been nade with the holders of 113 shares. About shares belong to estates which are insolor have been settled 80 as to bar the laims. About 300 shares belong to owners tho refuse or neglect to pay, of which quite & umber are known to be responsible. The in equity which has been pending in the Supreme Judicial Court against the stockolders, was argued on demurrer in May last; he Court has not announced its decision. It vill, no doubt, be made known soon, 80 that numerous creditors may receive the small mount due them, and the affairs of the bank be closed. SAVINGS BANKS.--Two of the fifty-six SavBanks have been organized and comnenced business during the last year, namely Iancock County Savings Bank, Ellsworth; outh Paris Savings Bank, South Paris. The eposits and profits of the Savings banks on third day of November last were $29,56,523.84. The assets, as compared with 1872, are as ollows:

10. January 2, 1875 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 2, 1875

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Rev. C. P. Nash of Concord, Mich., has recent supplied the pulpit of the Universalist church Rockland. An elegant memorial window, in memory o Martha Bancroft Davis, has been placed in Luke's Cathedral in Portland. Rev. C. H. Webber, of the Free B .ptist church tendered his resignation Sunday. Governor Coburn and Wm. Cilley, of Fairfield each donors of $100 to aid the building of : Baptist church in that place. The Rev. A. G. Morton, of Massachusetts, i supplying the pulpit of the Christian Churcl Lubec. The Rev. S. Goodenough has closed a two pastorate with the Universalist church in Bangor, having preached his farewell sermon or Sunday last. SUNNYSIDE.-Rev. Mr. Fay of Bangor, received Christmas present in the shape of a large and elegantly bound Bible.-Rev. B. F. Pritchare Portland, received from his parish and Sunday chool many valuable present.-Wednesday the iends of Rev. John Spinney met at Anson, and fter partaking of a bountiful dinner furnished by ladies, a handsome donation was presented to he worthy pastor and his Josiah Bear Harmony, had a donation of over $128 recently his little flock.-On Christmas the pastor o Methodist church in Wayne, Rev. F. K. Colby surprised with an elegant cape overcoat, and wife with a dress and an envelope containing in legal tender-Rev. H. B. Mitchell, Methodis astor at Alfred, had a variety wedding on the 15th nniversary of his marriage, Christmas evening The Banks of Maine. We learn from the annual report of the Bank Examiner, Hon. W. W. Bolster, that the number banks of discount at the present time in opera in the State, is three; number of saving anks, fifty-eight, all of which have been exam the past year. The charters of the three banks of discount and eposit will expire in October, and probably they vill ask the legislature for a renewal. Their out tanding circulation is $3,609; they have redeemed he past year $29; their assets amount to $368.367 The affairs of the American Bank in Hallowell are process of closing up. It was placed in the ands of Rece ivers, Sept. 5th, 1865, who will make final report at the March term of the Su eme Judicial Court. It is estimated that the dividend to stockholders on outstanding cer ficates, will be between 75 and 80 per cent. The number of savings banks doing business in State is fifty-eight, two of which have beer rganized during the last year, viz: Piscataquis avings Bank, Dover; Searsport Savings Bank earsport. The deposits and profits of the fifty ight banks on the 2d dav of November last, were 31,051,963.73. This shows an increase in the eposits of the banks during the year ending No ember 2, 1874, of $1,495,439.89. The increase of epositors for the same period is 5,401. The whole umber is 96,799. The average to each depositor $320. The increase of deposits the past year is 1,906,750.92 less than the preceding year; the in rease of depositors 4.677 less. This is owing hainly to depression in business, the withdrawa large deposits for reinvestment at larger rates interest, which are very much less in number of preceding years, and the withdrawal by epositors of small means from the urgent wants necessity, who have been induced and educated the establishment and influence of these instito practice frugality and to lay by somefor future need. But the increase for the year is very encouraging. and shows that the eople have great confidence in the stability of our