Winthrop Bank - Winthrop, ME

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 23, 1875
Location: Winthrop, Maine (44.305, -69.977)

Metadata

Model: gpt-5-mini
Short Digest: ff383783

Response Measures

None

Description

Articles describe a large burglary (July 23, 1875) that bankrupted the Winthrop Bank, appointment of a receiver (receiver acting/authorized) and later (Apr 28, 1876) the receiver authorized to pay a 40% dividend to depositors. There is no mention of a depositor run; the bank was placed in receivership and effectively closed. I corrected OCR spacing/typos in the articles (e.g., dates and names) but did not infer additional events beyond what's reported.

Events (3)

1. July 23, 1875 Other

Newspaper Excerpt: On the 23d of July last, in the early morning, the safe of the Winthrop Bank was blown open, and the burglars stole $90,000 in bonds, bankrupting the institution.
Source: newspapers

2. September 27, 1875 Other

Newspaper Excerpt: Col. Wing and Taggart met the robbers' agent in New York; Taggart handed the money over, and the agent handed a package to Detective Taggart. The securities which the agent had promised to return were all there.
Source: newspapers

3. April 28, 1876 Receivership

Newspaper Excerpt: Judge Danforth to-day authorized the receiver of the Winthrop Bank to pay the depositors the first dividend of 40 per cent.
Source: newspapers

Newspaper Articles (4)

1. November 4, 1875 The Sun New York, NY

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Article Text

PRICE TWO CENTS. DEALINGS WITH BURGLARS THE ROBBERY THAT BANKRUPTED THE WINTHROP BANK. Felony Compounded under Court NanctionA Philadelphia Detective's Dealings with a Maine Bank Officer in New York. WINTHROP, Me., Nov. 1.-On the 23d of July last, in the early morning, the safe of the Winthrop Bank was blown open, and the burglars stole $90,000 in bonds, bankrupting the in stitution. A reward of $10,000 was offered, but the efforts of the detectives were fruitless. The officers of the bank knew, however, that the bonds could not readily be negotiated, and se they waited patiently. The first clue was obtained by Joshua Taggart, the Philadelphia detective, who, being in Boston on business about ten days after the robbery, extended his trip to Winthrop. He examined the safes, that had been sent to Boston to be exchanged for new ones, and the indications were that the burglary had been committed by persons whom he knew. He procured a description of certain men seen in Winthrop on the day before the robbery, and soon afterward wrote to the bank officials asking them to send one of their number to Philadelphia at once with authority to act. The mission was given to Col. Charles A. Wing of Winthrop, and on the 6th of September he wens to Philadelphia with full authority. An arrangement was made for the burglars® agent to meet Col. Wing in a secluded place on the 9th of September, and the person who represented the burglars offered to restore all the securities except the Government bonds and the currency. Col. Wing said that if that was the final determination in regard to the Government bonds, he would not care to negotiate, The robbers' agent seemed indifferent, and smoked his cigar, and twirled a cane. Finally Col. Wing asked what could be done in regard to the other securities. "My directions are for twenty per cent. of the market value," was the reply. The interview was then adjourned for three bours, end another place was selected for the second meeting. Then the burglars' agent offerfor $10,000 to restore all the property, except currency and Government bonds, which the burglars had disposed of. Col. Wing asked time to report to the trustees UA the bank. Col. Wing reported the result of his mission to the bank officers, and they unanimously thought that the $10.000 should be paid. As the appointment of a receiver by the court was then pending. a decision was deferred until after the appointment had been made. The receiver concurred with the trustees, and obtained an order from the Court authorizing him to offer a reward. not exceeding $10,000. for the recovery of certain assets set forth in his petition." The receiver then gave Col. Wing $10,000, and authorized him to recover the property. On the 25th of October Col. Wing started for Philadelpnia, The agent of the robbers was in New York, and Col. Wing and Detective Taggart agreed by telegraph to meet him is the St. Nicholas Hotel on the evening of the 27th. All parties were prompt, and a meet ing was arranged for the same evening up town in a small back room, up two flights of stairs in a building occupied as a saloon. Col. Wing and Taggart were on time, and a few minutes afterward the robbers' agent entered with a package. He was not the same person whous Col. Wing had seen in Lidelphia, and evidently did not wish to be recognized. The collar of his heavy overcoat was drawn up around bis neck, and his felt hat was down over his eyes. He held a white handkerchief to bis face. which completely concealed his features. The $10,000 package was in $100 bank notes. Taggars handed the money over, and the agent handed a package to Detective Taggart. The securities which the agent had promised to return were all there. Immediately after receiving the money the man went out of the room. The market value of the securities recovered is $50,000.

2. November 4, 1875 The Republican Journal Belfast, ME

Article from The Republican Journal, November 4, 1875

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Article Text

# A Trade with Bank Robbers. Shortly after the Winthrop bank robbery, Joshua Taggart of Philadelphia, a well-known detective, being in Boston, was led to visit Winthrop, and while there satisfied himself that the job was done by one of two parties whom he knew. The bank officers had made such arrangements with other detectives that they were not in a position to avail themselves of Taggart's services. On his return to Philadelphia he wrote the officers for a description of the robbers, which was sent him. A few days after he again wrote the officers and requested them to send one of their number to Philadelphia at once with authority to act. The trustees of the bank decided to comply, and September 6th Col. C. A. Wing started for Philadelphia. On his arrival there he learned that Taggart had been approached by a middleman in the interests of the robbers, who desired to treat respecting the restoration of a part of the property. An arrangement was made for a meeting by Col. Wing, which took place September 9th. In the course of a lengthy conversation concerning the details of the transfer, the mediator said that the arrangement could not embrace the government bonds nor the currency taken, but it would embrace all the other securities. Col. Wing said: "If this be the fact I don't know as I have any further business with this man." There were a few minutes of silence, during which the man maintained an appearance of absolute indifference, as he smoked his cigar and twirled a cane which he carried. The silence was broken by Taggart, who said to the man. "Can't a portion of the government bonds be reached in some way?" "No," was the reply, "they cannot." Col. Wing then said: "Inasmuch as I am here, we may as well see upon what terms you propose to give up the other securities," to which the man replied, "My directions are twenty per cent." Colonel Wing then raised the question whether the twenty per cent. had reference to the face of the bonds or their market value, remarking that a portion of the bonds had greatly depreciated in value since their purchase by the banks. The man coolly replied: "As a business man I should say the twenty per cent. should apply to the market value of the bonds." Colonel Wing then inquired if this proposition was his ultimatum. "Yes," said the man, "these are my instructions." Colonel Wing then suggested to Taggart an adjournment of the interview to three hours later in the afternoon, at another place, of which suggestion Taggart approved, and it was agreed upon. During the intermediate time it appears that Taggart saw the man at the instance of Colonel Wing, whose object was that he might get the very best terms on which a restitution of the property might be made. At the time fixed for the next meeting Taggart communicated to Col. Wing the best and only terms on which the property could be restored, Taggart acting as the mouthpiece of the man who was not present. He reported that $10,000 must be paid, and that all the property would be given up excepting the stolen currency and the government bonds, which he (Taggart) was satisfied had been disposed of by the robbers and was beyond their reach. Col. Wing asked time of Taggart to report the result of his mission to the Trustees of the Bank, and see whether they would accept or decline the proposition, and Col. Wing returned to Maine. After reporting the result of his doings the bank officers were unanimously of the opinion that terms proposed should be accepted. The appointment of a receiver by the court then pending, it was decided to wait a while until the appointment was made, and it was necessary that the receiver, in whose hands the affairs of the bank would be placed, should act in conjunction with the trustees of the bank. When the arrangements were completed at Winthrop, Col. Wing notified the detective, Mr. Taggart, that he was prepared to pay the $10,000. Taggart put himself into communication with the middleman, the result of which was an appointment between the three parties to meet in New York at a given place on one of the streets in the upper part of the city. There they met a day or two ago. Col. Wing asked the middleman it he had the securities, when the middleman produced a bundle. Then Col. Wing handed over the $10,000, which the middleman permitted to lay on the table until Col. Wing had examined the securities by schedule and found them all right. The man then departed with the money, and Col. Wing returned to Winthrop with the securities. [Press. SAN FRANCISCo. Oct. 30. A despatch

3. November 4, 1875 Ellsworth American Ellsworth, ME

Article from Ellsworth American, November 4, 1875

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Article Text

The Winthrop Bank Robbery. Shortly after the Winthrop bank robbery, Joshua Taggart of Philadelphia, a well-known detective, being in Boston. was led to visit Winthrop, and while there satisfied himself that the job was done by one of two parties whom he knew. The bank officers had made such arrangements with other detedtives that they were not in a position to avail themselves of Taggart's services. On his return to Philadelphia he wrote the officers for a description of the robbers, which was sent him. A few days after he again wrote the officers and requested them to send one of their number to Philadelpnia at once with authority to act. The trustees of the bank decided to comply, and September 6th Col. C. A. Wing started for Philadelphia. On his arrival there he learned that Taggart had been approached by a middleman in the interests of the robbers, who desired to treat respecting the restoration of a part of the property. An arrangement was made for a meeting by Col. Wing, which took place September 9th. In the course of a lengthy conversation concerning the details of the transfer. the mediator said that the arrangement could not embrace the government bonds nor the currency taken, but it would embrace all the other securities. Col. Wing said: "If this be the fact I don't know as I have any further business with this man." There were a few minutes of silence. during which the man maintained an appearance of absolute indifference, as he smoked his cigar and twirled a cane which he carried. The silence was broken by Taggart, who said to the man, "Can't a portion of the government bonds be reached in some way?" "No," was the reply, "they cannot." Col. Wing then said: "Inasmuch as I am here, we may as well see upon what terms you propose to give up the other securities," to which the man replied, "My directions are twenty per cent." Colonel Wing then raised the question whether the twenty per cent. had reference to the face of the bonds or their market value, remarking that a portion of the bonds had greatly depreciated in value since their purchase by the banks. The man coolly replied: "As a business man I should say the twenty per cent. should apply to the market value of the bonds." Colonel Wing then inquired if this proposition was his ultimatum. "Yés," said the man, "these are my instructions." Colonel Wing then suggested to Taggart an adjournment of the interview to three hours later in the afternoon, at another place, of which suggestion Taggart approved, and it was agreed upon. During the intermediate time it appears that Taggart saw the man at the instance of Colonel Wing. whose object was that he might get the very best terms on which a restitution of the property might be made. At the time fixed for the next meeting Taggart communicated to Col. Wing the best and only terms on which the property could be restored, Taggart acting as the mouthpiece of the man who was not present. He reported that $10,000 must be paid. and that all the property would be given up excepting the stolen currency and the government bonds, which he (Taggart) was satisfied had been disposed of by the robbers and was beyond their reach, Col. Wing asked time of Taggart to report the result of his mission to the Trustees of the Bank, and see whether they would accept or decline the proposition, and Col. Wing returned to Maine. After reporting the result of his doings the bank officers were unanimously of the opinion that terms proposed should be accepted. The appointment of a receiver by the court then pending, it was decided to wait a while until the appointment was made, and it was necessary that the receiver. in whose hands the affairs of the bank would be placed, should act in conjunction with the trustees of the bank. When the arrangements were completed at Winthrop, Col. Wing notified the detective, Mr. Taggart, that he was prepared to pay the $10,000. Taggart put himself into communication with the middleman. the result of which was an appointment between the three parties to meet in New

4. April 29, 1876 New-York Tribune New York, NY

Article from New-York Tribune, April 29, 1876

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TELEGRAPHIC NOTES. BOSTON, April 28.-A daughter of Frank Phillips of Medway, Mass., age 12 years, was burned to death to day by her clothing taking fire from a stove. AUGUSTA, Me., April 28.-Judge Danforth to-day authorized the receiver of the Winthrop Bank to pay the depositors the first dividend of 40 per cent. BALTIMORE, April 28.- - Thomas Davis & Co., importers of salt, have suspended, liabilities about $100,000. The suspension was occasioned by the failure of Messra. St. John & Avery, New-) York. BOSTON, April 28.-Arthur F. Devlin, who has achieved some motoriety in New-England as an anti-Catholic lecturer, was arrested here to day for circulating pamphlets devoted to the exposure of alleged immoralities of priests. BOSTON, April 28.-The body of Edward Fuller, missing from Putney, Vt., since the 1st of March, W98 found this morning in a pasture at Westminster. Vt., together with the remains of his horse and sleigh. He appears to have be. come lost in the snow. A jug partly full of liquor was found by his side. The horse, which had been tied, had gnawed all the underbrush within reach.