Winthrop Savings Bank - Winthrop, ME

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 1, 1865*
Location: Winthrop, Maine (44.305, -69.977)

Metadata

Model: gpt-5-mini
Short Digest: 63071e92

Response Measures

None

Description

Article (Portland Daily Press, 1876-12-22) states Winthrop Savings Bank 'went into the hands of a receiver prior to Nov. 1, 1865' and the receiver treated the bank as ceased to exist. No run is described; the bank had a receiver (permanent closure). The 1876 piece discusses a tax suit relating to that receivership. Date for receivership is given as prior to 1865-11-01, so I record November 1865 as approximate.

Events (2)

1. November 1, 1865* Receivership

Newspaper Excerpt: the Winthrop Savings Bank, which went into the hands of a receiver prior to Nov. 1, 1865, and which receiver refused to pay the tax, claiming there was nothing to tax, the bank having ceased to exist, the Attorney General advised the amount to be proved before the commissioner as a preferred claimtc.
Source: newspapers

2. December 22, 1876 Other

Newspaper Excerpt: The Attorney General's report... In the case of the Winthrop Savings Bank, which went into the hands of a receiver prior to Nov. 1, 1865...the case carried to the supreme court whose decision was adverse to the state.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1876 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, December 22, 1876

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Article Text

The Attorney General's Report. Attorney General Emery's report to the governor and council for the year ending Nov. 1 1876 opens with a consideration of the cases of several railroad corporations which have claimed exemption from the operation of the act of 1874, authorizing a tax on railroad franchises. This claim was based on certain provisions concerning taxation in their charters, that they contend are contracts which the act of 1874 impairs, contrary to the constitution of the United States. These cases are familiar to the public and the question at issue is now before the Supreme Court of this State awaiting decision which it is expected will soon be rendered. If favorable to the State the Attorney General assumes that the taxes will be paid, unless it is decided to take an appeal to the Supreme Court of the United States. In the case of the Winthrop Savings Bank, which went into the hands of a receiver prior to Nov. 1, 1865, and which receiver refused to pay the tax, claiming there was nothing to tax, the back having ceased to exist, the Attorney General advised the amount to be proved before the commissioner as a preferred claimthis; was done and the case carried to the supreme court whose decision was adverse to the state. This may necessitate the refunding by the state of taxes paid by receivers of other insolvent banks; and application will doubtless be made to the legislature for that purpose The report recommends that the law in relation to the tax on savings banks be amended by providing a penalty upon the officers of the bank for neglecting to make the required returns, and also enlarging the remedies for the collection of the tax. As the savings banks usually possess but little property which can be reached by the sheriff, a warrant of distress may often be ineffective. A thoroughly efficacious remedy would be a forfeiture of the charter for the non-payment of the tax. The Attorney General also recommends an amendment to meet and remedy the difficulty caused by the adverse decision of the court. This might be done by an act declaring the tax to be on the deposits and to be paid by whatever corporation or person held the assets of the bank. During the year there has not been found any indictment in any county for any capital offence, or offence heretofore called capital. There have been several homicides of different degrees of turpitude. Some were apparently cases of manslaughter, and in some others the offenders were committed to the Insane. Hospital for inquisition upon the questions of sanity. One-the Trim murder in Belfastwill undoubtedly result in an indictment for wilful murder. The Attorney General thinks that in such cases as this the Governor should have the power to detail officers from any part of the state to investigate the facts and he urges the enactment of a law to that end. A case of arson has arisen in Hancock county which will undoubtedly result in an in dictment. The Attorney General has personally attended all the sessions of the Law Court during the year. The only cases of particular interest besides those already mentioned are the Venire cases:in Penobscot and the Cumberland liquor agency case. The Venire cases were pleas in abatement to several indictments, alleging the loan of the seal of the Court on the venires of a grand jurors. The legislature had passed statute making these venires valid, but the defendants contended that this act was unconstitutional. Decision has not been rendered in either ease.