8732. Lewiston Savings Institution (Lewiston, ME)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: April 19, 1876
Location: Lewiston, Maine (44.100, -70.215)

Metadata

Model: gpt-5-mini
Short Digest: dcc46c16

Response Measures

Full suspension, Books examined

Other: Trustees applied for appointment of a receiver; receiver E. F. Packard entered duties May 13, 1876.

Description

Newspapers from April–May 1876 report a protracted run on the Lewiston Institution for Savings, leading trustees to suspend payments and apply for a receiver; a receiver (E. F. Packard) took charge in May and the bank remained in receivership with partial dividends paid later. Cause recorded as a protracted run (no specific misinformation reported).

Events (4)

1. April 19, 1876 Run

Cause Details: A protracted run of depositors (sustained heavy withdrawals) over several weeks.
Measures: Trustees suspended receiving and paying out deposits; suggested depositors retain their passbooks.
Newspaper Excerpt: The Lewiston (Me.) Savings Bank suspended payment to-day owing to a protracted run. The bank expects eventually to pay in full.
Source: newspapers

2. April 20, 1876 Suspension

Cause Details: Trustees suspended payments because many assets were illiquid and a large proportion could not be disposed of without sacrifice.
Newspaper Excerpt: The Lewiston (Me.) Savings Bank suspended payment to-day owing to a protracted run.
Source: newspapers

3. May 13, 1876 Receivership

Newspaper Excerpt: E. F. Packard, Esq., has entered upon his duties as Receiver of the Lewiston Institution for Savings. The business will be attended to at the old rooms of the bank.
Source: newspapers

4. December 16, 1876 Other

Newspaper Excerpt: The Lewiston Institution for Savings ... [was] placed in the hands of receivers ... paying ... 50 cents on the dollar (later partial payments and final settlements reported).
Source: newspapers

Newspaper Articles (20)

1. April 20, 1876 The Sun New York, NY

Click image to open full size in new tab

Article Text

Levi Brothers, clothiers, at Grand Rapids, Mich., falled yesterday. Liabilities. $70,000; assets uu. known A steamer yesterday made Alpena. the most northern port ou Lake Huron, by penetrating three miles of Ice. John Hubbard. a hotel proprietor. shot himself at the Cufferty House in Binghamton yesterday afternoon while temporarily insuge. Mr. Henry J. Murray, who forsixteen years has been British Consul for the 8 are of M ine, has been ap. DO nted to the Consulship of Buenos Ayrea. Charles Sawtelle of the firm of Sawtelle & Fitch of Fitchburg, Masa., hanged himself in his house early yesterday morning. The cause is unknown. The Lewiston (Me.) Savings Bank suspended payment to-day. owing to a protracted run of the depositors. The bank expects eventually to pay in IU 1. E. D. Whiteomb, who was Imprisoned for contempt by the Boston Common Council and released by the Supreme Court, has accepted $500 from the city for damages. The President yesterday nominated Michael Schoeffer to be Chief Justice of the Supreme Court of Utah Territory, and KILOB P. Ferry to 00 Governor of Washington Territory. Ann Eliza Hardenburg, a colored child of Harrison. near White Plains. attempted to get through the window into the kitchen of aer house on Tuesday. The sash felt across uor neck, and one was strangled 10 death. The Boston Pilot has been purchased by Archbishop Williams and J. Boy.e O'Beilly. They announce that with continued success they propose to Day every dollar to the poor people who SLORES to the former promoter's bunds

2. April 20, 1876 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, April 20, 1876

Click image to open full size in new tab

Article Text

NEWS BY TELEGRAPH -TO THE Daily Kenneber Journal. LEWISTON. Methodist Conference. Lewiston. April 19. It was announced this morning in the Methodist conference that Bishop Merrill was not able to preside, and Bishop Haven took the chair. At 8.30 a prayer meeting was held, led by Rev. W. H. Foster. At 9.30 Bishop Haven opened the conference and offered communion confession. Rev. P. Jaques was appointed Secretary, after which the Presiding Elder announced the committees. The district reports show a general spiritual prosperity, revivals in many churches and additions to church property. Campmeeting John Allen was placed on the superannuated list, Rev. Mr. Fuller supernumerary and Rev. Messrs. Emerson, Sprague and Atkinson made effective. Rev. Mr. Morse was superannuated and the conference made him a contribution of $350. At 2.30 P. M. the annual missionary sermon was preached by Rev. A. R. Sylvester of Bowdoinham. In the evening, the Woman's Foreign Missionary Society and the Pastors' and Ladies' Christian Mission held their anniversaries. Run on a Savings Bank. The Trustees of the Lewiston institution for savings, announced that a run has continued for several weeks, and inasmuch as a large proportion of the assets are of such a character as cannot be disposed of at once without a great sacrifice, they think it advisable for the present to suspend the receiving and paying out of deposits. They suggest that depositors had best retain their books as there is reason to believe that ultimately depositors will incur no loss.

3. April 20, 1876 New-York Tribune New York, NY

Article from New-York Tribune, April 20, 1876

Click image to open full size in new tab

Article Text

TRMEGRAPHIC NOTES. BOSTON, April 19.-Gov. Rice to-day signed the death warrants of Piper, the Belfry murderer, and Frost, the Petersham murderer. BOSTON, April 19.-The Lewiston, Me., Savings Bank suspended payment to day owing to a protracted run. The bank expects to pay in full. LOWEL! Mass., April 19. - About 50 surviving m mbers of the Old Massachusetts 6th Regiment celebrated the anniversary of the march through Baltimore here to-day. CHICAGO, April 19.-Dom Pedro, Emperor of Brazil, with his suite, passed through here this morning, en route for California. He made no stay whatever. and received no special demonstration. SPRINGFIELD, Mass., April 19.-When the house of the Rev. C. D. Lothrop of Amberst. accused of bratality and general meanness, was mobbed Monday D ght by 200 town boys and students, Mrs. Lothrop was sick and alone, and is now in a critical condition. BOSTON, April 19.-The Boston Pilot has been purchased by Archbishoo Williams and J. Boyle O'Relly They propose to pay every dollar to the poor people who d posited money in the former prop. detor's hands. The latter cooperates. ALBANY, N. Y., April 9.-Deputy U. S. Marshal James N Kelly sold at alction yesterday the steamers Austin, Ohio, I. Dillon, and W. 11. Taylor, and the barges Roberts and Marshali, the same being the interest of J. J. Austin in Austin 8 Albany and Canal line of towboats plying between Albany and New-York.

4. April 24, 1876 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, April 24, 1876

Click image to open full size in new tab

Article Text

The Journal (Lewiston) is of the opinion that that the affairs of the Lewiston Institution for Savings will come out all right, if the managers are not pressed further. The Trustees are men of high character, and have given their time liberally to the affairs of the bank exercising the same judgment as in their private affairs. If they have made mistakes in investments, it should be remembered the best financiers in the State bought similar securities on their own account, all supposing them at the time a good investment. We understand that application will be made to Judge Walton to appoint receivers for the bank under the statute.

5. April 25, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, April 25, 1876

Click image to open full size in new tab

Article Text

STATE NEWS. ANDROSCOGGIN COUNTY. The Journal says Androscoggin mills Nos. 2 and 3 start up again on Monday next. The mills have been shut down for several days on account of back water. The Journal says Rev. C. C. Mason of the Methodist conference, was run over on Main street by a carriage containing three ladies, who did not stop to see the extent of the injury, or sympathize with the gentleman, who though somewhat hurt, escaped without any broken bones. The Journal says the trustees of the Lewiston Institution for savings have made application to Judge Walton for the appointment of a receiver, under the statute, and the judge has ordered a hearing May 1. Under this proceeding the assets will be disposed of, the loans collected as they shall mature, and depositors be paid pro rata. This will of course occupy several months. Such a closing up of the affairs of the bank will necessitate some loss to the depositors, on account of depreciation of certain securities held by the bank. The deposits in the bank last November were $878,790.93, On the day of suspension they had run down to $758,672.80. KENNEBEC COUNTY. The Ministerial Association of Kennebec and Somerset counties, will meet at Waterville on Tuesday of this week, holding their services in the vestry of the Congregational churc h. PENOBSCOT COUNTY. The Whig says that a deputation from the Yale College Faculty has recently visited Bangor, tendering to Prof. Barbour the Chittenden Professorship of Divinity in Yale College church. This is the place corresponding to the one filled by Dr. Peabody at Harvard. The deputation took back the assurance that Prof. Barbour would give the important offer his serious consideration. Joseph Vance of Medway met with quite a severe accident last Friday, by having his leg broken below the knee, while at work on a landing of logs on Salmon stream. SAGADAHOC COUNTY. The Times says Jonathan Purington of Bath has voted at every Presidential election in the United States since Jefferson's time, and he expects to help in making Mr. Biaine our next President. WASHINGTON COUNTY. The Republican says that Mr. Abner Harmon of East Machias has been industrious the past winter to the following extent: He worked ten days in the woods on the shore of Hadley's Lake, cutting nine cords of wood and walking the distance six miles each way every day; twenty days at Gardner's Lake, splitting granite walking six miles each day; sixty days in woods, cutting in the time fifty cords of wood and 125 logs, walking to and from his work each day, a distance of five miles, making a distance traveled besides doing each day a full day's work, 540 miles. The storehouse at Rim wharf, East Machias, was broken open on Friday night last and about 50 pounds of sugar and three-quarters of a barrel of flour stolen. The thieves have not been found. The liabilities of the town of Eastport over assets amount to $43,289.86. IN GENERAL. The spring arrangement for trains on the Maine Central railroad will take effect the 1st day of May.

6. April 26, 1876 Mineral Point Tribune Mineral Point, WI

Article from Mineral Point Tribune, April 26, 1876

Click image to open full size in new tab

Article Text

currency on the 19th. The first to avail themselves of the order were the Treasury employes, who formed in line at the cash room and presented fractional currency for redemption. A Boston dispatch of the 20th states that the Lewiston (Me.) Savings Bank had suspended, owing to a protracted run, but that it expected eventually to pay in full. The Ballou Manufacturing Company and the firm of George Ballou & Son, of Woonsocket, R. I., made an assignment on the 20th. Liabilities exceed the assets by between $150,000 and $200,000. The Sub-Treasurer in Chicago began the payment of silver for fractional currency on the 20th, and the stock of $85,000 on hand was exhausted on that day without satisfying the full demand. A supply of $10,000 would be forwarded daily to that city from the General Treasury, which amount it was thought would supply all demands after the first few days. A Fort Laramie dispatch of the 20th reports further Indian outrages on the route to the Black Hills. Mr. and Mrs. Metz, of Laramie City, were murdered by the Indians in Red Canon, about fifty miles from Custer City, on the 16th. A man by the name of Simp on was also killed, and three others were wounded. The Chicago Inter-Ocean of the 20th publishes telegrams from some two hundred points in Illinois, Indiana, Michigan, Ohio and Pennsylvania, where the bulk of the winter wheat is grown, showing the condition of the growing crops of winter wheat and fruit. According to these dispatches Illinois promises well. In a few counties the wheat threatens to prove a failure, but by far the majority of the reports are encouraging. Peaches were injured by the cold spell during March, but apples and nearly all varieties of small fruit look well and promise an abundant yield. Michigan and Pennsylvania report excellent prospects for all kinds of crops. In some parts of the latter State peaches and early apples have suffered, but not seriously. Michigan, however, expects a plentiful yield all round. In Indiana the winter and spring have proved unfavorable for winterw heat and peaches, but apples and small fruits appear to be thriving. Reports from Ohio are to the effect that wheat is bad. ly damaged, except in well-drained bottom lands, and a reduced yield of all kinds of fruit is expected.

7. April 27, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, April 27, 1876

Click image to open full size in new tab

Article Text

STATE NEWS. ANDROSCOGGIN COUNTY Hon. J. R. Pulsifer of Poland is said to be the champion fruit-grower in Maine. He has eleven acres in bearing orchards, and more than fifteen thousand trees already set out, besides large numbers in his nurseries ready for transplanting. The Journal says the bank examiner, Hon. W. W. Bolster, reports that the Lewiston Institution for savings will probably be able to pay 90 per cent. At a regular meeting of the Old Fellows' Lodge at Mechanic Falls, held Monday evening, resolutions of sympathy for their brother, D.N. McCann, were passed for his bereavement in the loss of his wife. CUMBERLAND COUNTY. Mr. Joseph Fuller of Brunswick, the well known bridge builder. died. at his home on Thursday last, aged about 60 years. FRANKLIN COUNTY A Weld correspondeni of the Lewiston Journal writes the small pox in this vicinity, as it is now hoped, is pretty nearly closed up; there is but one sick so far as is known to the writer, and that case IS hopeful. There have been, as yet, but fourteen deaths in all, and about sixty have been attacked with the disease, making about one death in four of those attacked. The last death occurred April 9th. HANCOCK COUNTY. Hon. T. C. Woodman has been appointed Receiver of the Bucksport Savings Bank. KENNEBEC COUNTY. A census of scholars of the village school district of Augusta shows that the whole number of scholars between four and twenty-one years of age is 1064. Last year the number was 1180. There are now thirteen persons in the city alms house, Augusta. Four are able to assist in operations on the farm. SOMERSET COUNTY. Over $83 have been raised by the ladies of Somerset Mills to aid the Somerset Reform Club in finishing off and maintaining a reading and club room. WALDO COUNTY. An ovarian tumor was recently removed from the bowels of Mrs. James Boynton of Palermo that weighed between sixty and seventy pounds. Mrs. Boynton is 61 years of age. There is every prospect of her rapid

8. April 28, 1876 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, April 28, 1876

Click image to open full size in new tab

Article Text

THE Lewiston (Me.) Savings Bank has suspended, owing to a protracted run, but it expects eventually to pay in full. The Ballou Manufacturing Company and the firm of George Ballou & Son, of Woonsocket, R. I., have made an assignment. Liabilities exceed the assets by between $150,000 and $200,000.

9. May 3, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, May 3, 1876

Click image to open full size in new tab

Article Text

BY TELEGRAPH. MATTERS IN MAINE Water ville Savings Bank Closed. WATERVILLE, May 2.-The doors of the Waterville Savings Bank were closed this morning ia accordance with a vote passed at the meeting of the trustees yesterday. This action was enforced by diminished deposits and notices of withdrawal. The Bank Examiner is now investigating the affairs of the bank, and will soon report in full as to its status. The Lewiston Institution for Savings. LEWISTON, May 2.-Judge Walson has postponed the appointment of a receiver for the Lewiston Institution for Savings until Thursday. Bank Examiner Bolster testifies that there will be a deficiency in the assets of the bank of about $59,000. District Convention. AUGUSTA, May 2.-The 3d District Republican Convention for the election of delegates to the Cincinuati Convention is called to meet at Augusta Thursday, May 18th. Executive Council. The Governor and Council after a brief session this morning voted to accept the bond of E. C. Burleigh and qualify him as land agent' Adjourned to July 12th. Centennial Judges. B. F. Morse of Augusta, has been appointed award judge in the carriage department of the Centenoial. John D. Lang of Vassalboro, the well known Quaker, has also received notice of his appointment as one of the judges of award. The Fourth in Bangor, BANGOR, May 2-The City Government made an appropriation this evening for the Fourth of July celebration.

10. May 4, 1876 The Redwood Gazette Redwood Falls, MN

Article from The Redwood Gazette, May 4, 1876

Click image to open full size in new tab

Article Text

General News summary. B.S. FROM WASHINGTON. PRESIDENT GRANT, ou the 18th. vetoed the bill reducing in salary of the President to $25.000 after the 4th of March,1877 as THE United Sates Treasury began paying out silver coin for fractional currency on the 19th. The tiret to avail themselves of the order were the Treasury employes, who formed in line at the cash room and presented frac. tional currency for redemption. A WASHINGTON dispatch of the 231 states that the Commissioner of Internal Revenue had, by direction of the President, written to Supervisor Hedrick asking his resignation. Supervisor Matthews had resigned, to take effect May 1. A WASHINGTON dispatch of the 24th says Gen. Belknap had written a letter to a friend, denying in positive terms that he had made any confession whatever concerning the charges against him relative to the Fort His on the Sill post-tradersbip. counsel, 24th, filed with Secretary Gorbam a rejoinder to the replication of the House in the impeachment matter. He deniesthat he was Secretary of War until after a committee of the House had investigated his official conduct. He also alleges that Mr. Clymer had stated to him on the 1st of March that, unless he (Belknap) should resign his position as Secretary of War before DOOD the next day, be (Clymer) would move his impeachment in the House; that he (Belknap) yielded to the intimation thus given that he might, by resigning, avoid a protracted trial before the Senate. This alleged on the of the Comthe Chairman of agreement Investigating part nattee, it is urged, should estop the House from prosecuting the impeachment. THE EAST. HENRY C. BOWEN has withdrawn from the Congregational Union. A BOSTON dispatch of the 20th states that the Lewiston (Me.) Savings Bank had suspended, owing to a protracted run, but that it expected eventually to pay in full. The Ballou Manufacturing Company and the firm of George Ballou & Son, of Woonsocket, R.I., made an assignment on the 20th. Liabilities exceed the assets by between $150,000 and $200 000. THE Labor National Convention recently held at Pittsburgh, Pa., adopted, among others, resolutions demanding a strong protective tariff: declaring in favor of the election of President of the United States by the direct vote of the people; demanding the strict enforcement of the Eight-Hour law, and the enactment by Congress of stringent usury laws; and urging upon the different State Legislatures to pass such apprentice laws as will Insure competent workmen in every branch of industry. THE burglar Nolan, convicted of the murder of James H Noe, a New York merchant, in August last, was hanged in that city on the 21st. A NEW HAVEN dispatch of the 21st says the Connecticut delegation to the National Repuplican Convention favor the nomination of Postmaster-General Jewell, and will present his name to the Convention. NEARLY all the buildings at the Methodist summer resort and camp-meeting grounds at Tareutum, Pa., have been burned. THE Governor of Massachusetts has signed the warrant for the execution, on the 26th of May, of Thomas W Piper, convicted of the murder of Mabel Young in the Warren Avenue (Boston) Church tower. Piper has made a statement to the effect that the little girl met her death by being caught in a trap door while asceuding the tower, and that she be found and that was nearly fear dead when her, through of being accused of murdering her, be denied all knowledge of the matter. GOLD closed in New York, on the 24th, at 112% were the The following closing quetations for produce: No. 2 Chicago Spring Wheat, $1.201.24; No. 2 Milwaukee, $1.25 @127; Oats, Western Mixed, 42@43; Corn, Western Mixed, 64@66c; $ Lard. Mess, 2 60; 13%c; Flour, Pork, good to choice, $5.30@5.70: White Wheat Extra, $5.75@7.75. Cattle, 91/2111/c for good to extra. Sheep, 6@7 c. AT East Liberty, Pa., on the 24th, cattle brought: Best, $5 50@5.75; medium, $4.75 @5.25; common. $4.25@4.50. Hogs soldYorkers, $7.50@820; Philadelphias, $8.20@ 8.60. Sheep brought $5.00@7.00 according quality.

11. May 10, 1876 Green-Mountain Freeman Montpelier, VT

Article from Green-Mountain Freeman, May 10, 1876

Click image to open full size in new tab

Article Text

Since the suspension of the Lewiston (Me.) Savings Bank there has been a continuous run on the Auburn (Me.) Savings Bank, and the trustees have voted to pay the May semi-annual dividend, as this will cover all depreciations from investment, and leave the bank solvent. There is a run on the Androscorrin bank, but the 00 bank is meeting all demands.

12. May 13, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, May 13, 1876

Click image to open full size in new tab

Article Text

E. F. Packard, Esq., has entered upon his duties as Receiver of the Lewiston Institution for Savings. The business will be attended to at the old rooms of the bank.

13. May 13, 1876 The Portland Daily Press Portland, ME

Click image to open full size in new tab

Article Text

STATE NEWS. ANDROSCO GGIN COUNTY E. F. Packard, Esq., has entered upon his duties as Receiver of the Lewiston Institution for Savings. The business will be attended to at the old rooms of the bank. AROOSTOOK COUNTY. The Times says Arthur McCann, an eccentric man, who has lived alone for a number of years in a hut or hovel, on the White Settlement road in Hodgdon, and leading a hermit sort of a life, died suddenly on Friday last and was buried Sunday. Charles M. Herrio, Esq., a prominent lawyer at Houlton, was found dead in his office last Tuesday. He was born at Exeter, and graduated at Bowdoin College in 1855. He was a man of good literary taste, and a very able advocate. He belonged to the Masonic fraternity. KENNEBEC COUNTY. Robert Crosby, a worthy and highly esteemed citizen of Albion, died last Thursday morning. About all the firemen of Waterville have joined the iron clads. KNOX COUNTY. Capt. Henry Dockham ot Thomaston, died in California Friday morning, where he had gone on a visit to his son. The Camden Reform Club is in a prosperous condition. It now numbers 125 members, and has hired a room for the use of its members. LINCOLN COUNTY. The Chronicle says the ice broke up in|Round Pond May 2d. PENOBSCOT COUNTY. William Fortier lost a finger Thursday while at work at one of the saws at Basin Mills. The Whig says the Penobscot river is nigher than it has been for the past four years. The water rose rapidly Thursday. It is rumored that there is danger of the old mills at Milford being washed away, PISCATAQUIS COUNTY. The Observer says the ice in Sebec lake was so strong on Friday last that people crossed in safety. It will not go out, it is thought, for a week or two. The Observer says the buildings owned and occupied by Wallace W. Freeze at Whitney Ridge, were destroyed by fire on Thursday, April 27th. Insured for $900. Mr. W. Holmes Jennison of Dover, wasquite quite severely injured about the face by being thrown from a wagon by a runaway horse. SOMERSET COUNTY. The Bank Examiner, Mr. Bolster, finds on examination that the liabilities of the North Anson Savings Bank are $29,002.60 while the resources are $29,935.47. This leaves a balance of $32.87 in favor of the bank. Oliver Bessey of Somerset Mills, was kicked by a horse Monday and his knee 80 injured as to lay him up for a few days. The Chronicle says a former resident of C. naan has just returned from California, having been absent fifteen years. On leaving Canaan a wife and an infant three weeks old were left behind, and in his absence his wife applied for a divorce, on the ground of desertion. It was granted her; and now, the infant having become a young lady, the long separated father and mother conclude to live together again, and they were remarried last Sunday evening. Skowhegau purposes a grand temperance celebration the Fourth of July. WASHINGTON COUNTY. The Sentinel says a seizure of wool valued at $500, belonging to J. H. Stackpole of Calais, was made Wednesday night by special agent W. T. King.

14. June 1, 1876 The Republican Journal Belfast, ME

Article from The Republican Journal, June 1, 1876

Click image to open full size in new tab

Article Text

After a protracted run on the Lewiston Institution for Savings, the trustees were obliged to suspend. They made application to Judge Walton for the appointment of a receiver, under the statute and the judge ordered a hearing May 1st. Under this proceeding the assets will be disposed of, the loans collected as they shall mature and depositors be paid prorata, This will, of course, occupy several months. Such a closing up of the affairs of the bank will necessitate some loss to the depositors, on account of depreciation of certain securities held by the bank. The deposits in the bank last November were $878 790 93. On the day of suspension they had run down to $758,672.80.

15. November 2, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, November 2, 1876

Click image to open full size in new tab

Article Text

Maine Business Notes. It is announced that the suspended Lewiston Institution for Savings will be prepared to pay 50 per cent. on deposits Jan. 1st. The bank is ultimately expected to pay 80 per cent. Messrs. Huxford & Co.'s mill in Bath started up Tuesday, having a contract with the Franklin Land & Lumber Co. of Boston. Seventy-five or one hundred men will be employed about a month in the contract, and prospects are good for more. The firm have just finished leading a barque with deals for Liverpool, England. Launched at Millbridge Oct. 18th, by J. W. Sawyer, a double decked barque of 750 tons, named Illie. The new brig Henry T. Wing was launched at Millbridge Oct. 18th. She is 500 tons burden. At Harrington, Messrs. S. W. Nash & Sou have a frame up for a vessel of 600 or 700 tons. Alonzo P. Nash is putting up a frame for a ship of about 1000 tons, the latter the largest ever built in the place. A corporation has been recently organized under a charter obtained last winter, and the last special charter granted by the Legislature previous to the passage of the general statute regarding corporations, to be known as "The Katahdin Iron Company," with A. P. Gould as President, and O. W. Davis, Jr. Treasurer and Manager, with its place of business in Bangor. The capital stock of the company has been fixed at $100,000, and has already been taken and operations at the Katahdin Iron Works will be hereafter carried on by it as successors to Mr. Davis. The works are still in operation, employing a large number of meo, and under the new arrangement will undoubtedly continue to run during the win. ter.

16. December 16, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, December 16, 1876

Click image to open full size in new tab

Article Text

LIABILITIES. Capital stock $125,000 00 Circulation 3,512 00 Deposits 72,290 30 Due on dividends 2,175 06 Due on books 3,076 00 Discount 1,804 20 Profits 31,686 79 Total $239,545 25 ASSETS. Loans $165,321 36 Bank stock 700 00 Real estate 4,000.00 Due from banks 42,498 38 Bills of other banks 9,164 49 Cash on checks 17,861 03 Total $239,545 25 The American Bank of Hallowell now owes on final settlement $1669, with assets to pay this in outstanding certificates of $1468.72. ASSETS OF THE SAVINGS BANKS. The number of organized savings banks in the State is the same as last year, sixty-four, four of which have become insolvent and have passed into the hands of receivers, viz: Winthrop savings bank of Winthrop; Solon savings bank of Solon; Bucksport savings bank of Bucksport; Lewiston Institution for Savings of Lewiston. The assets of the banks now actually doing business, are as follows, as compared with last year:

17. January 1, 1877 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, January 1, 1877

Click image to open full size in new tab

Article Text

STATE AND CITY STATISTICS FOR ,76. Prominent Events. The prominent political events of the year have been the election of Gov. Gonnor, the election of five Republican Congressmen, Mr. Blaine's appointment as Senator to fill the vacancy occasioned by the acceptance of the Treasury portfolio by Senator Morrill, and the casting of the electoral vote of the state for Hayes and Wheeler. In military affairs the encampment of the state militia at Bruuswick has been the only event of any importance. The state constitution has been somewhat changed by the adoption of the amendments submitted by the constitutional convention, and capital punishment has been abolished. Maine, in common with other states, has suffered in her industrial pursuits from the general depression, but the crops have been abundant and there has been little actual suffering. Three railroads have experienced financial difficulties; the European & North American, which is in the hands of receivers, and the Port!and & Ogdensburg and Portland & Rochester which have been unable to pay the interest on their bonds-while one long meditated project -the Shore Line Railroad-has made some progress towards realization. The Bucksport Savings Bank and the Lewiston Savings Institution have become insolvent and ceased to do business, while the Thomaston, Waterville and Brunswick banks temporarily suspended. Several newspapers have died, the most notable among them the Loyal Sunrise, alias the Presque Isle Sunrise, alias the Aroostook Valley Suorise, while severai new ones, mostly weeklies, have been started. Criminal and Casual. There have been seven homicides during the year, all but one committed by men. There have been 53 suicides, 43 males and 10 females, besides 20 attempts which did not prove fatal. The number of fires in which the loss was $1000 or over was 339 against 226 in 1875. The total losses was $1,490,323 against $1,217,500 in 1875; and total insurance $813,523 against $444,500 in the preceding year. The greatest loss in any one month was in December which reached $265,800. The burning of the tannery in Vanceboro in September caused a loss of $150,000, the heaviest loss of any one fire during the year. In this city there have been 2388 arrests made by the police, of which 1524 were for drunkenness. In the year 1875 there were 2716 arrests, 1864 of them for drunkenness. There have been no large crimes committed during the year, but a very large number of larcenies, many of them small with a few amounting to a few hundred dollars. Since the middle of March City Marshal Bridges and his force have had nearly 90 cases of larceny. In scarcely a single case have they failed to recover a property and in the majority of cases the property has been wholly recovered and the criminals arrested. In this {time, less than ten months, the police department have recovered upwards of $4800 worth of stolen property. There have been 37 fires in this city the past year and the following is a list of the losses and insurance: I I

18. December 17, 1877 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, December 17, 1877

Click image to open full size in new tab

Article Text

BY TELEGRAPH. MAINE. MAINE SAVINGS BANKS. Fifth Annual Report of Examiner Belster. [Special to the Press.] AUGUSTA, Dec. 16.-The fifth annual report of Bank Examiner Bolster gives a gratifying exhibit of the condition of our savings banks. The improvement in their condition is very marked and there has been a corresponding increase in public confidence in them. BANKS OF DISCOUNT. The report first deals with banks of discount of which the only one left is the Eastern of Bangor, the Mercantile of the same city having surrendered its charter in March, 1876, and the North of Rockland, having opened its books as National Bank, on the 15th of last September. The Eastern is thoroughly sound and in a prosperous condition. During the year the receivers of the defunct American bank of Hallowell, have paid dividends to the amount of $580.24. The amount of certificates now outstanding is $896, and the cash on hand to pay the same is $788.48. LOAN ASSOCIATIONS. The Peoples' Loan and Building Association of Richmond, is the only one in the State. It was incorporated in February, 1875, and is in a Sound condition with assets to the amount of $20,178.42. The receipts and disbursements for the two years ending March 19, were $18,730.11. The system on which it operates has been frequently explained. SAVINGS BANKS. The number of savings banks now organized in this State is sixty-four, the same as last year. Those which have been placed in the hands of receivers are the Winthrop, Solon, Bucksport and Lewiston Institution for Savings, paying respectively, 40, 85, 40 and 50 cents on the dollar. There will be an early settlement of the affairs of the Solon bank and Lewiston Institution for Savings, but the final settlement of the others will be delayed by pending litigation. The deposits and profits of the sixty banks now doing business, on the 5th of November last, were $26,898,432.76. The assets, as compared with 1876, are as follows: ASSETS. 1876. 1877. Invested in United States bonds...$ 602,419 16 $ 982,869 47 State of Maine bonds 137,319 75 97,216 50 Other state. county and

19. December 19, 1877 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, December 19, 1877

Click image to open full size in new tab

Article Text

Mr. Park on Russia. Rev. A. L. Park of Gardiner, gave the second lecture of the popular course at the Free Baptist church. last evening, to a large audience, his subject being "Russia," a very timely one, by the way. This lecture, together with several others, was prepared at the request of his own congregation, and delivered to them the winter after bis return from spending eleven months abroad. It embodies much curious information about the great empire of the North, its government, cu-toms and peculiarities. Few of our countrymen who visit Europe find their wav to Russia, because of the long distance that separates it from the rest of Europe, and also the strictness with " hich travellers and their luggage are inspected at the frontiers. Nowhere in Europe are passports so much used, even the inhabitants being compelled to obtain them when going on business from one Russian city to another. The imperial palaces were described as very numerous and splendid beyond belief. The display of jewels and gems, solid silver carriages and rooms made in malachite and ambe, were represented as fairly bewildering. and equalled only in the "Arabian Nights." The richness of the church serv ce, and the dress and appearance of the clergy, corresponded with the maguificence of the court. The revenues are derived largely from the government monopoly of the liquor traffic and the rich mines of Siberia. Some remarkable churches in Russia were described, one of them costing NL venteen million dollars and roofed with hammered gold. The great be 11 of Moscow was alluded to, and other bells of great size, not only heavier than any elsewhere in the world, but also more precious, being made of silver and gold, as well as the ordinary copper and tin, and worth a dollar a pound for old metal. A ske ch was given of the iomantic career of Peter the Great and of the liberation of the serfs by the present Czar. The lecturer praised the personal character of Alexander I, though he denounced the despotic, autocratic form of government of which he is at the present day the only European representative. As to the war in the East, the speaker sympathized with Russia, as superior in her civilization to Turkey. The lecture closed with a humorous account of the reasons why Russian chronology is "old style," twelve days bewind all the rest of the world. The lecture was deeply interesting from beginning to its close, and showed that much thought had been bestowed in its preparation,-fully justifying all the good words that have been said about it in the localities where it had been delivered. Bank Examiner's Report. According to the fortheoming report of the Bank Examiner of Maine, Hon. W. W. Bolster, the number of saving banks now organized in this State is sixty-four, the same as last year. Those which have been placed in the hands of receivers are the Winthrop, Solon, Bucksoort and Lewiston Inst tution for Savings, paying respectively, 40, 85, 40 and 50 cents on the dollar. The deposits and profits of the sixty banks now doing busine-s, on the 5th of November last, were $26,898,432.76. The assets, as compared with 1876, are as follows: Assets. 1877 1876.

20. December 16, 1878 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, December 16, 1878

Click image to open full size in new tab

Article Text

inthrop, $11112.83 $114.53.38 $1061 12 73 -10c. 3530-34 3762840 354 93 ets. acksport, 160,196.13 163,530.98 716.87 60 ets. 00 nation'n. 839,778.44 753 053 13 4,266.71 78 ets. 66.00 79,823.50 Final dividends to depositors have been made in Winthrop Savings Bank and the Lewiston In itution for Savings Amount of expenses al owed settlement of the fairs of the Winthrop Sav Bank W** $14,899.87 Thissum includ- the ward of $10,000 in procuring $66,'00.00 stolen the bank at the time of its robberr in 1875 be amount paid to depositors $83 976 99 and to persons $14 899.87 Amount collected from assets $98,876.86 Amount of expenses al in settlement in the Lewiston Institution for avings wa $15,379.14. Amount C' llected from asset. $608,472.17. Amount paid to depositors 587,363.55. and to other persons $19,645.85 mount uncalled for $1,462 77. There will be an settlement in the Solon Savings Bank, and probable final settlement in the Bucksport SavBank, within eighteen menths. Thirteen of the fifty-nine savings banks now dobusiness, have had their deposit accounts re by decree of court, under the provision of thirtv six of the act to revi-e and consoli the laws relating to Savings Banks, approved ebruary 8, 1877, as follows; Brunswick Savings stitution, Thomaston, Orono, Camden, Bangor, ndroscoggin County, Pen broke. Calvis Skowhe. Bridgton, Anburn, Dexter. Frankl County. It is believed that ultimately there will be no to depositors in the Auburn and Bangor that the losses in the others will range two to ten per cent., exceat Thomaston. hich will be about twen tv per cent. The losses these banks with one exception are comparativesmall, and in all the result of shrinka es that not he for seen, many of which are tempoThe losses in the savings banks of this State largely the result of shrinkage of assets which within a reasonable time mainly rec ver their If the law of our State forced the disconnuance of business and the closin of a bank henever the losses rendered it insolvent, it ould be the very means of foreing the sale of its preciated assets without giving time for apore making permanent what might have been a temporary loss. Notwithstanding the foolpanic of the past, based on hare assertions of signing men, the savings bank. of this State will examin ation, and the facts wil fully justify statement that theseinstitutions with the large nount of money held and invested by them. with exceptions, have been well managed and pruconducted through all times. 1. i- believed it may be saiely stated, that the $23,173,112. which these banks now hold, have suffered less shrinkage than any like amount of capwhich has been invested by the best business of the country, since the inauguration of our war. The result of the law of 1877 authorizthe court to reduce the deposit accounts of positors. so as to divide losses pro rata among so far, has been beneficial to all concerned. recommends that the law be so amended as to opower the court to reduce the deposit account