8802. Saco Savings Bank (Saco, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
January 1, 1910*
Location
Saco, Maine (43.501, -70.443)

Metadata

Model
gpt-5-mini
Short Digest
416f5adb

Response Measures

None

Description

Newspapers (1914–1915) describe Saco Savings Bank as having been closed and in the hands of receivers for several years with dividends being paid to depositors. No run is described in the articles. The bank remains closed and co-receivers are making dividend payments, so this is a suspension with permanent closure/receivership. The exact suspension date is not stated; contemporaneous article (1915) says it was closed five years earlier (~1910).

Events (2)

1. January 1, 1910* Suspension
Cause Details
Article does not state the reason for the suspension/closure; only that the bank closed about five years earlier (no run or specific cause described).
Newspaper Excerpt
Depositors in the Saco Savings bank, which was closed five years ago, will receive shortly a dividend...
Source
newspapers
2. * Receivership
Newspaper Excerpt
The prospect of another dividend from the Saco Savings bank ... The receivers have been grubbing away at their task of disposing of securities ... it would seem justifiable to make another payment to depositors before very long. Two dividends of 25 per cent. each already have been paid. Depositors ... will receive shortly a dividend of 16 2-3 per cent. The co-receivers yesterday were given permission by the supreme court to make this payment.
Source
newspapers

Newspaper Articles (2)

Article from Daily Kennebec Journal, July 28, 1914

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Article Text

Lunt of Frenchboro, whose spine was badly injured causing paralysis, while playing baseball and taken to a hospital in Boston, was that the surgeons did not think that the paralysis will be permanent after the injury to the spine has been corrected. Mr. Lunt is the mail carrier between Frenchboro and Swan's Island. The new Davenport launch, the Alella at Squirrel Island, has proved herself very fast. She has been tried out sufficiently on single mile tests to show a speed rate of 35 miles per hour or better. She has made a nautical mile under favorable conditions slightly under 1m, 40sec. The Popham Beach life saving crew -as well as all others-will go on duty at midnight Friday night. Capt. H. J. Berry has been in sole charge of the station since June 1st. He is the oldest member of the crew, having seen service of nine years as surfman and five years as keeper. The following men will report for duty next Friday night: I. M. McIntire No. 1, C. H. Marr, No. 2; A. G. Maker, No. 3; Geo. E. Crowley, No. 4; W. E. Sprague, No. 5 and N. N. Beal, No. 6. The Popham Beach station has been established since 1883 and is considered one of the best equipped stations on the coast, is manned with a crew of the bravest men in the service. The summer residents at Popham and vicinity are always glad when the men resume duty as the drills and exhibitions furnish interesting entertainment especially for the people coming from inland. John Dearborn of Boothbay Harbor, who raised and sold such beautiful sweet peas last season, is to have something rare in that line this summer. He procured the seed of this new variety from London, England. This seed took the prize in that country, and has never been planted in our country until now. The prospect of another dividend from the Saco Savings bank in the early autumn seems good at the present time. The receivers have been grubbing away at their task of disposing of securities in a bad market and have managed to get enough money together so that it would seem justifiable to make another payment to depositors before very long. It is believed the payment can be made at the time given above, though no absolute date can of course be given at this time. The size of the proposed dividend cannot now be stated. It is hoped that it may be 25 per cent, like the two that have already been paid, but it may be smaller. However, the news will be very encouraging to depositors. ### OLD GLORY CAMP OF SPANISH WAR Old Glory Camp of Spanish War Veterans has recently secured and placed on Monument park at Houlton a Gattling gun, as a souvenir of the late unpleasantness with Spain. The members of the camp and most of the citizens have been proud of this mark of the confidence of the United States, whose property the gun remains, in sending it to them for exhibition purposes. Someone, however, has another idea concerning the souvenir and between last Sunday and Monday the gun was tampered with, some of the parts removed and otherwise disarranged. It was a contemptible trick and Uncle Sam will make the perpetrator realize it should he be apprehended. The United States Fish Commission steamer Gannet arrived recently at Portland, after a strenuous week's work in the distribution of lobster fry, she having in that time liberated 6,000,000 of the little wrigglers in Peaks Island roads and off Falmouth, 3,000,000 in New Harbor, 1,000,000 off the eddy in the Sheepscott river, and the same quantity off Southport, Five Islands, and Boon Island. For the month of June the Gannet put overboard the enormous amount of 169,880,000 fry, a record distribution. Besides the work mentioned the steamer is now collecting old "seeders" all the time, the strippings of which are usually ready for operation in from five to 12 days after being collected. Mr. Arthur Bailey, representing the Bureau of Fisheries, is now stationed at Portland collecting seed lobsters for the Boothbay hatchery and also attending to any business connected with it. Capt. Greenleaf, the commander of the gannet, is enthusiastic over the general lobster situation. He says emphatically that the production of lobsters along the coast is increasing every year and believes the time is coming, notwithstanding the immense demand, when prices for the crustaceans will drop to such a point that others besides millionaires will be able to eat them. The Goodwin Starch Company's factory at the Hockenhull brook, Fort Fairfield, stopped grinding June 20, the output for the year being between 400 and 450 tons. The total run made for the season was nearly nine months. This is about the longest run an Aroostook factory has ever made, except the one that this same factory made last year, which was over 10 months.


Article from Norwich Bulletin, May 31, 1915

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Article Text

Another Dividend by Saco Savings Bank. Portland, Me., May 30.-Depositors in the Saco Savings bank, which was closed five years ago, will receive shortly a dividend of 16 2-3 per cent. The co-receivers yesterday were given permission by the supreme court to. make this payment. Two dividends of 25 per cent. each already have been distributed.