City Bank - Portland, ME

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 6, 1840
Location: Portland, Maine (43.661, -70.255)

Metadata

Model: gpt-5-mini
Short Digest: 22bd9992

Response Measures

None

Description

State legislature passed an act accepting surrender of the City Bank's charter and vesting directors with powers to close up affairs — a voluntary charter surrender/closing (permanent). No run is described in the article. OCR typos corrected where obvious.

Events (1)

1. April 6, 1840 Suspension

Cause: Voluntary Liquidation
Cause Details: State legislature accepted surrender of the bank's charter; directors empowered to collect assets, pay debts, and close up affairs permanently.
Newspaper Excerpt: An Act accepting the surrender of the charter of the City Bank, Portland. SECTION 1. ... That the charter of the City Bank and same is accepted...
Source: newspapers

Newspaper Articles (1)

1. April 9, 1840 Lincoln Telegraph Bath, ME

Article from Lincoln Telegraph, April 9, 1840

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Article Text

shall have same power to authorize the executor or administrator of such deceased person to make conveyance of such real estate to the executor or administrator of the person so contracted with, which he now has to authorize such conveyance to the person contracted with, himself being alive-And the executor or administrator to whom such conveyance shall be made as aforesaid, shall stand seized and possessed of such real estate, to the same uses and for the same purposes, as he is, of real estate set off to him on Execution. SEC. 2. Be it further enacted, That whenever the Commissioners who have been, or hereafter may be appointed, upon the estate of any person deceased by virtue of an Act entitled An Act to regulate the jurisdiction and proceedings of the Courts of Probate," approved March the twentieth, one thousand eight hundred and twenty-one shall have made their report, and the Judge of Probate, shall have or dered distribution thereon, it shall be discretionary with said Judge, at any time before distribution shall have taken place, upon application made to him by any creditor of such person deceased, on account of any error, or mistake in the Report of said Commissioners, to issue his decree suspending said order of distribution, and recommitting said Report to said Commissioners, for the purpose of correcting such error or mistake. Approved by the Governor, Feb. 24, 1840. A n Act to limit the tenure of Military office. Be it enacted by the Senate and House of Representatives in Legislature assembled, That all Military officers, who have been or hereafter may be commissioned, shall hold their respective offices for a term not longer than seven years from the date of their commission, unless reappointed or reelected. Provided, that in case of vacancy of Major General in any Division, the commissions of the Brigadier Generals in such Division shall not terminate by the lim. itation aforesaid until the office of Major General shall be filled by the Legislature-and the Commander in Chief is hereby authorized to discharge officers who have held or may hereafter hold commissions seven years asaforesaid.And this Act shall take effect from and after its approval by the Governer. Approved by the Governor, Feb. 24, 1840. An Act additional to prevent obstructions to Ferries. Be it enacted by the Senate and House of Representatives in Legislature assembled, That in addition to the several obstructions mentioned in 'an Act to prevent obstructions to ferries, passed February enty-seventh, eighteen hundred and thirty-three, that if any person shall erect any weir for the taking of fish, or any oth. er obstruction in said ferry ways, as mentioned in said Act, the person or persons so offending shall be liable to pay, for each and every day such weir or other obstruction is continued, not less than ten dollars, to be recovered in the same manner, as the before recited Act prescribes. Approved by the Governor, Feb. 26, 1840. An Act to prevent obstructions in Machias river. SECTION 1. be it enacted by the Senate and House of Representatives in Legislature assembled, That if any person or persons shall cast or throw into the Machias River, any slabs, lathings, edgings, or any refuse Lumber of any nature whatsoever, or other materials whereby the navigation of said river may be impeded or injuriously affected, or which shall tend to obstruct the floating or driving of Logs, masts, spars, or other Lumber down said river, either above or below the tide waters of the same, he or they shall forfeit for each offence a sum not exceeding twenty dollars, nor less than five dollars, to any person who may sue for life same, and shall also be liable to pay all damages which any individual may suffer by reason of such obstructions in an action of the case, in any Court competent to try the same. SEC. 2. Be it further enacted, That if the of fence or offences forbidden in the foregoing sec. tion, shall be committed by any sons, may be in the of owner who mill employ person any or Mill peror owners, the said mill owners be liable to the same mill to be shall owner penalties or recovered in the same manner as is herein before provided. Approved by the Governor, March 3, 1840. An Act accepting the surrender of the charter of the City Bank, Portland. SECTION 1. Be it enacted by the Senate and House of Representatives in Legislature assembled, That the charter of the City Bank and same is accepted, and when this act shall shall the SEC. terminate 2. hereby Be take the be, effect. same it further That continue in its corporate for the term of two years from and this Bank during Act shall enacted, capacity the the time said shall take effect, for the sole of and the debts due the corporation, the property and estate collecting conveying purpose thereof. selling remain liable for the from the same, and shall be and of debts due prosecuting shall payment of and defending suits at directors for the closing its and for choosing for concerns. purposes law, it further enacted, That SEC. 3. Be aforesaid, capable Act and all effect and be in force from shall the sixth take and this after day of April, in the year of our said one eight hundred and and shall publish for three in thousand Bank the months, forty, week- Lord, that if ly State paper, and in one or more any be, in the in may be located, that it has surrender the when such Bank charter there stating County surrendered which papers, said its