Portland Bank - Portland, ME

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 1, 1875*
Location: Portland, Maine (43.661, -70.255)

Metadata

Model: gpt-5-mini
Short Digest: 1e922dff

Response Measures

None

Description

Article (Portland Daily Press, 1875-05-10) reports Portland Bank suspended payment last week and that Mr. Goold will not be able to fully discharge his liabilities. No explicit mention of a depositor run or of reopening; insolvency is indicated. Closure is likely given inability to meet liabilities, but the article does not state formal receivership or permanent closure — suspension with apparent insolvency. Date of suspension approximated to the week before the 1875-05-10 publication.

Events (1)

1. May 1, 1875* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Management/insolvency problem: Mr. Goold will not be able to fully discharge his liabilities; statement being prepared for creditors.
Newspaper Excerpt: THE PORTLAND BANK.-Little has yet been made public concerning the affairs of the Portland Bank, which suspended payment last week. Mr. G. is making up a statement which will probably be presented to the creditors to-day. It is, however, announced on good authority that Mr. Goold will not be able to fully discharge his liabilities,
Source: newspapers

Newspaper Articles (1)

1. May 10, 1875 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, May 10, 1875

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Article Text

THE PORTLAND BANK.-Little has yet been made public concerning the affairs of the Portland Bank, which suspended payment last week. Mr. G. is making up a statement which will probably be presented to the creditors to-day. It is, however, announced on good authority that Mr. Goold will not be able to fully discharge his liabilities,