8798. Ship Builders Bank (Rockland, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 15, 1867
Location
Rockland, Maine (44.104, -69.109)

Metadata

Model
gpt-5-mini
Short Digest
933a5dab

Response Measures

None

Description

Articles (July–Aug 1867) report the Shipbuilders' Bank had receivers and a long-pending suit by the receivers against stockholders was dismissed in favor of stockholders. No run is described; bank had been placed in receivership (i.e., suspended/closed) and did not reopen in these reports. Date of court decision reported mid-July 1867.

Events (1)

1. July 15, 1867 Receivership
Newspaper Excerpt
THE SHIPBUILDERS' BANK CASE.-The Rockland (Me.) Gazette says that the great shipbuilders' hank case has been decided in favor of the stockholders. The action was brought by the receivers of the bank against the stockholders collectively, to recover about $85.000 ... The bill now being dismissed, all attachments under it are dissolved, and stockholders are free to draw their dividends ...
Source
newspapers

Newspaper Articles (3)

Article from The Portland Daily Press, July 15, 1867

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Article Text

THE SHIPBUILDERS' BANK CASE.-The Rockland (Me.) Gazette says that the great shipbuilders' hank case has been decided in favor of the stockhold ers. The action was brought by the receivers of the bank against the stockholders collectively, to recover about $85.000, and interest for ten years, making at this time over $136,000. The suit has been pending more than seven years. It went finally, upon the bill, answers and proof, to the law court in 1864, and was argued by Peter Thacher Esq., for the receivers, and A. P. Gould Esq., for the stockholders. The bill now being dismissed, all attachments under it are dissolved, and stockholders are free to draw their dividends in banks and other corporations, where they have been tied up so many years.


Article from Daily Ohio Statesman, July 27, 1867

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Article Text

News of the Day. GENERAL NEWS. GOLD closed in New York yesterday evening at 1393/4. LATE Georgia and Mississippi advices represent the corn crop as very fine, and the cotton crop will be tolerable if the weather continues good. IN the match game of base ball between the freshmen nine of Yale and the freshmen nine of Harvard, played on Thursday morning, the Yale nine won. Score, 38 to 19. FREDERICK BAKEMAN, of the village of Freedom, in Cattaraugus county, N. Y., celebrated his one hundred and seventh birthday on the 4th instant. HON. CONSTANT Cook, of New York, has offered a subscription of $20,000 towards building a new church edifice (Episcopal) for St. Thomas' Church, at Bath, N. Y. LAST year eleven churches in Boston gave $259,000 for benevolent objects, and three hundred and eighty-two churches in the State gave $400,000. THE Boston Congregationalist and Recorder laments the unusual amount of drunkenness in that city on the 4th of July, in spite of prohibition. THE trustees of the old Charleston Savings Institution have been made to refund $2500 claimed by loyal depositers, on an order from General Sickles, threatening them with imprisonment unless they produced the money. THE great Shipbuilders' Bank case, at Rockland, Maine, which has been pending more than seven years, has been decided in favor of the stockholders. This action was brought by the receivers against the stockholders collectively to recover about $85,000 and interest for ten years, making this time over $135,000. AN exchange says that a Western man recently removed the remains of his son from a cemetery at Fortress Monroe, and after getting safely home he wrote to the executive officer as rollows: "The old coffin in which my son was buried was left in the dead house. I want to know how much the Government is going to allow me for it?" HARPER'S Weekly contains a "railroad measure," as a simple table of a new system of arithmetic. It begins: "I excursion train equals 2 accidents; 2 accidents equal 1 official inquiry; 1 official inquiry equals 1 signalman discharged," &c. This is not altogether correct. It requires at least twice two accidents to make one official inquiry. THE number of children in Connecticut between the ages af four and sixteen years is set down at 118,018, and the number of public schools at 1,651. The school fund amounts to $2,043,025, and the total amount expended last year was $716,203. The average wages per month of male teachers, including board, is $45, and of temale teachers, $23.


Article from Memphis Daily Appeal, August 20, 1867

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Article Text

FINANCIAL AND COMMERCIAL. OFFICE OF THE DAILY APPEAL, } MEMPHIS, August 19, 1867. To-day opened out with some better prospects of a fair week's business than last Monday, There is very little improvement noticeable at our banks, but the indications upon the street are much more favorable. It will take some weeks yet to realize any permanent benefits from the coming crops. In the meantime money may continue tight, but we hope the difficulties now presented to borrowers may be somewhat less formidable. Gold has advanced in New York from 40 the closing rate on Saturday, to 41} to-day. Here, though the offerings are small, there was a few very fair sales during the day, Buying at 40 to 401c. In silver there continues to exist a great scareity, and no advance could unearth more than a few straggling pieces. Buying at 30 to 32c. City scrip is scarce and tending upward. Dealers buy at 55c and sell at 57c. County warrants are not in demand. We quote them nominal at 65c buying; selling at almost any figure between 70 and 75e. Police scrip continues scarce, with a light demand. Buying at 73c; selling at 75 to 76c. There is no movement in bonds or stocks. The annual loss by the wear of coin is estimated at one-tenth of one per cent., and the consumption by the arts and the loss by fire and shipwreck at $3,000,000 a year. Secretary McCulloch has not yet made any payment under the late judgment of the court of claims awarding $3,000,000 to certain cotton claims, and asked that the cases might be appealed, but the court of claims has refused to allow an appeal. As the views of the department do not coincide with the judgment of the court, every legal obstacle will be resorted to before the payment. The great Shipbuilders' bank case, at Rockland, Me., which has been pending more than seven years, has been decided in favor of the stockholders. This action was brought by the receivers against the stockholders collectively to recover about $83,000 and interest for ten years, making at this time over $135,000. Covode, Williams & Co., should extend under the simple power to send for per8008 and papers, an investigation into Jay Cooke's affairs. It might be ascertained how many millions he made out of government bonds and who his partners were-bus this would implicate republicans, who are not to be held responsible.