Pembroke Savings Bank - Pembroke, ME

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: March 2, 1878
Location: Pembroke, Maine (44.954, -67.162)

Metadata

Model: gpt-5-mini
Short Digest: 0b5e6898

Response Measures

None

Description

Article (Portland Daily Press, 1878-03-02) reports depositors voted to have officers apply to the courts to scale down deposits due to insolvency and permit the bank to resume business. No mention of a depositor run; this appears to be a suspension related to insolvency with intent to reopen.

Events (1)

1. March 2, 1878 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent (short by 2½ percent); depositors voted to seek court approval to scale deposits and permit resumption of business.
Newspaper Excerpt: The depositors of the Pembroke Savings Bank have voted to instruct the officers of the bank to apply to the courts to have the deposits scaled down to the amount of 2½ per cent., the amount of the insolvency of the bank, and to permit the bank to resume business.
Source: newspapers

Newspaper Articles (1)

1. March 2, 1878 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, March 2, 1878

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Article Text

STATE NEWS. ANDROSCOGGIN COUNTY. The aggregate shipments of shoes from Auburn the past week have been 1288 cases, two hundred cases less than last week and six hundred cases less than the corresponding week of last year. HANCOCK COUNTY. The spring term of the Castine Normal School opens March 12th. Capt. Mark W. Hodgdon, first assistant keeper of Mt. Desert Rock Light Station, visited the main land last week, and reported that the gale of the 10th and 11th of January last was the severest which had been known at that station for several years. Capt. H. says that on the morning of the 11th, the sea went 30 feet above the top of the boat-bouse, and swept over the very top of the rock in sufficient volume to have carried a vessel of 200 tons burden over without touching. The door and windows of the L of the dwelling house were broken in, the shingles which covered the walls were torn off, the foundation walls of the dwelling bouse badly damaged, and quite a quantity of fuel was swept off and lost. KNOX COUNTY. The Rockland Free Press says: "Facts and circumstances have been discovered concentrating suspicions as to the murder of Mrs. Meservey in St. George. Investigation has not been abandoned, though if the town authorities should offer a reward for the apprehension of the culprit, the case would probably be worked more vigorously and systematically tban it now is." Willie Newbert of Appleton, fourteen years old' killed a wild cat a few days ago. PENOBSCOT COUNTY. On Thursday Marshal Low of Bangor received a letter from Major Hoskins of Oldtown. stating that a team containing two men stopped at a house at West Great Works the night previous, and one of them roused up the inmates of the house and made some inquiries in relation to the road to Oldtown. Marshal Low forwarded the letter to Dexter, in order that they might investigate the matter if they thought best. SAGADAHOC COUNTY. Bath has a resident who claims to know where there are 35 tons of gold and silver bars, buried by Captain Kidd or some of his contempories. The location of the precious metal is somewhere between Bath and Dead river, and was revealed to bim one dark night through the medium of a dream. It is his intention to go for it in the spring and then start a national bank which is to be run on an entirely new principle. What that principle is cannot at present be ascertained; but he says further developments will be forthcoming one of these days. WASHINGTON COUNTY. The depositors of the Pembroke Savings Bank have voted to instruct the officers of the bauk to apply to the courts to have the deposits scaled down to the amount of 2½ per cent., the amount of the insolvency of the bank, and to permit the bank to resume business.