8841. Winthrop Savings Bank (Winthrop, ME)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 26, 1875
Location
Winthrop, Maine (44.305, -69.977)

Metadata

Model
gpt-5-mini
Short Digest
5e477798

Response Measures

None

Description

Bank was robbed July 23, 1875; trustees filed for sequestration and a receiver was appointed late August/September 1875. The bank was closed and placed in receivership and never reopened as an operating bank; final dividend ordered in April 1878 and assets/claims auctioned. No bank run is described — cause of suspension was the large robbery (bank-specific adverse information leading to insolvency).

Events (5)

1. August 26, 1875 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large robbery of securities and cash (robbery July 23, 1875) left bank unable to continue; payment on a large proportion of stolen securities stopped.
Newspaper Excerpt
SUSPENSION OF A ROBBED BANK. WINTHROP, Me., Aug. 26.-The Winthrop Savings Bank, which was recently robbed, will be closed and placed in the hands of a receiver.
Source
newspapers
2. August 27, 1875 Receivership
Newspaper Excerpt
On the 27th day of August following, the trustees of the bank filed a bill in equity ... an order of sequestration passed, and a receiver and commissioners appointed. (Receiver: Emery O. Bean.)
Source
newspapers
3. October 21, 1875 Other
Newspaper Excerpt
On the 21st of October, this reward was offered, and on the 5th of the present month it was paid to Col. C. A. Wing of Winthrop, on receiving from him all the bonds and securities stolen from, and belonging to the savings bank. These amounted, at their face value, to $66,100.
Source
newspapers
4. March 30, 1878 Other
Newspaper Excerpt
AUCTION SALE ... Also, lot of land ... mortgaged to Winthrop Savings Bank ... EMERY O. BEAN, Receiver of Winthrop Savings Bank.
Source
newspapers
5. April 19, 1878 Other
Newspaper Excerpt
Mr. Bean of Readfield, Receiver of the Winthrop Savings Bank, presented his final account of assets in his hands for distribution, which was allowed and a final dividend of 8 1-10 per cent. ordered to be paid to the depositors.
Source
newspapers

Newspaper Articles (14)

Article from New-York Tribune, August 27, 1875

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SUSPENSION OF A ROBBED BANK. WINTHROP, Me., Aug. 26.-The Winthrop Savings Bank, which was recently robbed, will be closed and placed in the hands of a receiver. The depositors may receive 45 per cent. Payment on a large proportion of the stolen securities has been stopped.


Article from The Portland Daily Press, August 28, 1875

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STATE NEWS KENNEBEC COUNTY. A receiver will be appointed to close up the affairs of the Winthrop Savings Bank, Hon. W. W. Boister, the Bank Examicer, thinks that quite a proportion of the securities and cash stolen Was SO mangled that the robbers will not dare to make use of the preperty. PENOBSCOT COUNTY. The Whig says that a horse was run over at Wlnn, Wednesday night, by the European and North American train. Three of his legs were cut off and left to die. PISCATAQUIS COUNTY. The following Republican nominations were made at Dover yesterday: Senator - O. Brown of Dover; Commissioner Leonard Hilton of Kingsbury; Treasurer-Calvin B. Kittredge of Dover. The Observer says that Foxcroft has lost another good citizen in the death of Mr. Wm. H. Ingalls, who died on Saturday afternoon last, after an illness of only three days. SOMERSET COUNTY. The Skowhegan Report says that business over the Maine Central railroad to and from that station during the past week has been remarkably active. Sexty-four car loads of general merchandise has been received Fortytwo car loads have been seut out, among these four of live stock to Westbrook; one of slate from the Maine Slate Company, to Readfield; one of ship knees half a ton of cloth, first shipment from the new woo'en factory to Rutus Frost, Boston. It was pronounced to be first quality. Four hundred and f rty dol lars received from sale of passenger tickets. Wm. H. Heselton, proprietor of the new hotel at the Forks, informs the Reporter that his house will be opened on the 22nd of September. WASHINGTON COUNTY. The four-years-old son of Lu'u Quinn of Lubec was found drowned on Wednesday of last week. The Robbinston correspondent of the Sentinel says that three men from somewhere have been digging for the money buried by Balls, the coun'erfeiter, and his confederates about sixty years ago; they were around with divining rods and charts, and succeeded in convincing all sensible people here that the fools are not all dead vet. WALDO COUNTY. M.j. Wm. H. Fogler of Belfast has notified his former comrades that the second reun'on of the surviving members of the 19th Regi ment Maine Vols. will be held at Belfast on the afternoon and evening of the second day of September next. YORK COUNTY. The Journal says that the crops in the vicinity of Limerick are loooking fine and there is every evidence of reaping a bountiful harvest. G. H Thompson of York has been appoint ed foreman of laborers at the Kittery Navy Yard, vice Thomas F. Staples of Eliot. The North Berwick Company are sending away large quantities of flannel goods. This company run full time, notwithstanding the hard times. J. J. Abbott, Esq., has just ontered upon his duties as book-keeper for the company. At a small gathering of (old folks held recently at the residence of the pastor of the Congregational Church at Limington, there was a remarkable couple by the name of Thompson. The busband will be one hundred years old in September next, and yet, strange to say, his physical and mental powers seem well preserved. The same is true of his wife who is nine y-two yeurs old. A horse and carriage belonging to the Central House stable, Old Orchard, ran away Friday afternoon, completely smashing the vehicle, but injuring no one. CUMBERLAND COUNTY. The Brunswick Telegraph says that a new machine and new engines have been put into the paper mill, and work will be lively when everything is in first rate order. The Bridgton News says: "We record this week the death of one of our best known business men, Mr. Nathaniel Ogood of North Bridgton. A native ot Durham in this sta'e, Mr. Osgood passed the greater part of his life at North Bridgton, where, for some forty years he kept a country and general varietv store." The News says that Hanson Fields has caught a turtle weighing fifty pounds in Songo river. He was on the Mount Pleasant, and caught it with a boat hook. AROOSTOOK COUNTY. The Pioneer says that at the Methodist camp meeting in Hodgdon last Friday night four harnesses were badly cut to pieces by some miscreaut who had more devil than godliness in his nature.


Article from Daily Kennebec Journal, November 12, 1875

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The Winthrop Bank Robbery-A Little Light upon the Subject. READFIELD, Nov. 11, 1875. MR. EDITOR -Some of the accounts published several days since, of the affairs of the Winthrop Savings Bank, and of the measures which had been taken for the recovery of its stolen property, seem to have given the impression that the rights and safety of the public had been sacrificed or overlooked, in the effort to recover the bonds and securities of the bank. But no one having full knowledge on the subject, could honestly have intended to give such impression, because such is not the fact. With your permission, I will give a brief statement of the proceedings in the case, and of what has been done by those officially charged with the settlement of the bank's affairs. The robbery was July 23d, 1875. On the 27th day of August following, the trustees of the bank filed a bill in equity in the S. J. Court, representing its condition, praying for the sequestiation of its property, the appointment of a receiver, and such further action as is provided by the statute. Upon due notice a hearing was had September 27th, an order of sequestration passed, and a receiver and commissioners appointed. Prior to this time, the trustees had been making diligent efforts to secure the robbers and recover the stolen property. And from all the information that could be obtained, they became satisfied that there was but one way by which the property could be recovered, so as to be made available to the depositors; and that was, by offering a reward for its return. If this could be done, they had strong hopes that the whole, or a part of the property, could be secured. Under this state of facts, the receiver petitioned the court for instruction and direction, as to the the proper action to be taken in the premises, and on the 18th day of October, an order was passed authorizing him to offer a reward of not exceeding $10,000 for the recovery and return in good condition, of all the stolen property belonging to the bank. On the 21st of October, this reward was offered, and on the 5th of the present month it was paid to Col. C. A. Wing of Winthrop, on receiving from him all the bonds and securities stolen from, and belonging to the savings bank. These amounted, at their face value, to $66,100. The receiver also, at the same time, obtained under the reward, securities pledged to the bank by individuals, as collaterals, amounting to $3,900. The order of the court, under which the reward was authorized, was not silent on the question of compromise with the robbers, but in most explicit terms, forbade anything to be said or done, in any way shielding them, or their accomplices, before or after the fact, from the prosecution and punisbment their crimes deserve. And in the offer of reward, this order was referred to, and these provisions made a part of its terms and conditions. As matter of fact the person who restored the property did not ask any protection for the guilty parties, and no act was done, or assurance given in connection with its recovery and return, that was not strictly in accordance both with the letter and spirit of the order of the court. The public may rest assured, that no party now charged with any duty connected with the affairs of the bank, will relax any effort for the discovery and punishment of the perpetrators of this most bold and daring robbery. What has been done, has been entirely in the interest of the depositors, and they may well deem themselves fortunate in the result of the efforts made. Their expectations as to dividends, however, must be moderated by the fact that the present market value of the securities recovered, will fall very much below their face value. The statements referred to have been repeated more or less at length, by the press generally, and it would seem to be but an act of justice to those officially charged with the settlement of the affairs of the bank, that this communication should have the same publicity. Very respectfully, EMERY O. BEAN, Receiver of W. S. Bank.


Article from The Portland Daily Press, June 27, 1876

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says by Henry B. Hall, Mary Nowlan and Nancy S. Hopkins; class history by Nellie A. Bragg, and valedictory by Wilbur H. Paul. In the absence of Gov. Connor the diplomas were presented by President Chamberlain. The school, under the efficient direction of Mr. Fletcher, is in a very prosperous condition. KENNEBEC COUNTY. The Augusta Journal says that Willard E. Walker, an employe of that office, signed a warrant on the strength of which a seizure was made at the saloon of Ed. Cetchell. On Saturday afternoon about 5 o'clock Getchell approached Walker, who was quietly passing along on the sidewalk, and knocked him down. Getchell will be brought to justice. The decision of the Supreme Court is promulgated to the effect that the tax assessed by the State on the Winthrop Savings Bank, after that bank had gone into the hands of a receiver, is illegal. The court holds that the existence of the bank for all other purposes than closing up its affairs, ceased when the receiver took its charge. Dr. H. P. Torsey of Kent's Hill, who has had trouble with his eyes for some time, has had an operation performed by Boston physicians. The operation was successful, and Dr. Torsey is now steadily improving. SAGADHAOC COUNTY, The Times says: Last Friday a man named Averill fell from the staging of a vessel building in Phipsburg and broke three ribs. His recovery is doubtful.


Article from Ellsworth American, December 28, 1876

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Annual Report of Attorney General. Attorney General Emery has prepared He says that no decishas been announced in case of the Maine the his ion annual State yet against report. taxes. Central the but Rail. one road Company for unpaid is expected soon. The case was made up by the consent of both parties and argued before the Law Court last July If the decision is in favor of the State. and there is no appeal taken to the Supreme Court the of the United States. it is assumed that other delinquent railroad companies will settle their unpaid taxes. In the case of the State against the Winthrop Savings Bank for unpaid tax, the decision was adverse to the State. The Receiver of the bank. it seems. refused to the tax. claiming that the bank had ceased pay to exist. and there was nothing to A claim was brought, the General contending tax. Attorney preferred that the tax the lien tax was on the deposits, and that them into the hands of the ReIn consequence of this General recommends a penalty upon who fail to make of ceiver. Attorney followed a of law banks providing decision the the the passage requi- offl. the cel s site returns. and enlarge the remedies for the collection of taxes. The charter should be forfeited if the taxes are not paid. No indictment has been found the past in case of a capital character. although year several capital crimes which have been committed may result in indictment. famiwhich is the case of the Trim among murder at Bucksport, in which Edward the M. ly Smith has been committed to await action of the Grand Jary. No decision by the Law Court has been in the venire cases in Penobreached scot county. and the case of the Portland authoriwhich involved the the w nominate a ty liquor of agency. Mayor prosecutions liquor are agent. for The great bulk of the of the liquor law. which, in is violations of the Attorney General. enas faithfully and as of In the great convictions take place. forced cases opinion other statute. diligently proportion The that Attor- any the General thinks it important ney should attend in person. and unite in of cases from their county. tion Court county attorneys the State. the the and prosecu- Law that expenses be paid by General says that treasurers have of cases returns. For this their The county Attorney disobedience failed The in to largest many make proper recommends 3 penalty. is in law he of fines and costs imposed $17,193 Comberland amount county. amounting to couldcollected. $16.231 76. Penobscat to 20: the fines and costs amounting Aroos tv next, 39; collected 86004 97 In amounted took $1174 county the fines and costs to $60 74: collected 87674 TOBY CANDOR. Dec. 21.Mr. George re- F. WASHINGTON, the forthcoming Louisiana contradicHoar says will probably be squarely by a mass ports and will be accompanied the countory. so voluminous that have time testimony itself will not try and it. There will be a tributhe question to some first, refer that proposition will fail, of to to digest Congress outside proposition constitu- benal. but is DO provision in the it. and cause or in our history of tion because in the for the advantage in the will be an agreement second, parties there tribunal. precedent struggle composition for situation. both al. the This being the and most and House will meet the vote Senate of the Senate will count The Governor Hayes is and will see that he of the President declare impossible. elected. inaugur- the In my opinion, Mr. Hoar says. no will be no trouble. no The administration ated. and these reasons. revolution. Democratic large there war. for strong, has polled so in its a party is so has so many advantages hence is that its triumph future can as anything in the be as certain of the party will not them favor, vote leaders and four years throw likely be. The to do anything which condition would of a back which they would anything like it inaugurating minority, into their old rebellion. certainly hopeless knows be The by be tranquil, because resort South will that the inevitable end would a very well and violence on its part and to force about a reunited bring means. North. of Senators the be to South knows entention what that of the leading the It is the no part in any debate until upon the reto counting take of the committee electoral vote from the South. and the evidence is in. turn when of their the statement of facts is made,


Article from The Portland Daily Press, January 5, 1877

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THE GENERAL No change has occurred in the military force the state which consists one and regiment two infantry, and one company of light tillery. cadets one companies been Waterville, furn have with arms and pments under the law izing the format tion companies of to exceed cadets ten be not com posed boys not subject to military duties up der New sufficient tents law militia in number for the present force. made under tract. of best pattern material quality and were the by Ad jutant General in for for the An encampment of the volun teer militia, dr and four discipline lasting was days at was and cessful The men were order in their behavsoldier their bearing and obegient orders. Marked proficience drill was showing of the encam value the of The general appearance the of command the closing their marching The llent cess this warrants amply dation that rovision be made holding one year. the be greatly regrette reduced the that for did prove ufficient enable the Adjutant respond to all for aid which deemed The ritorious. great excess of supply labor over for the the relief unusu be Great care herous. taken the grant pensions an and this he of purpose full estimate by the Adjutant to important the people Maine that the soldier who has sacrifi ability to support himself and family their cause should not know want or humil tion. LAND THE AGENCY The receipts of the Land office the for November 30th. ending $42,399.7 were from and the various accounts specified in the Land Agent report. Conv 22.304 acres 38 land Lands ade actual settlers. to the 13,054. acres were to actual contracted settlers: of the remaining state lands acres are unsold and 127 acres are of actual settlers and are conveved when the set tling duties shall have been performed, The islands on the coast aggregating an area 663 of were sold acres, public at auction for $1. 109.15. great reqaired deal of labor research to ascertain what Islands belonged the is there supposed are few unsold, which maining definite formation not could btained before the sale probab are They number and value that would be well in der avoid expense. authorize the Land Agent sell them in such manner as he may visable The duties of the and Agent have been perthe and as required by the act 1876 relating the appoi intment and duties that officer. their ende further far possible the expressed pur pose of that act prepare for the the Land office at the practica moment. am convinced office that the cannot present advan geously discontin ued. and that the transfer of its duties other department would neither benefit the public service nor effect an economy THE PUBLIC SCHOOLS The statistics of the common schools for the school year ending April 1876. do not differ materially from those for the preceding year They however indicate, continued interest and that all progress relates them The sum of $1.053 497 was expended for pubschools which the state contributed the amount available Eighty school were built during the year at a cost $164 399. The laws the relations of the state the schools work admirably and are heightened efficiency by the recent act requirios sworn fiscal returns made the State Sn believed this that law proves benefit to towns also in enforcing strict school all accountof monevs to them, elonging from whateve source derived consider the vis bility of the providing for the inspection of High Scho by authorizing the State Super Com mon School Is appoin sufficient competent persons aid him isiting and ascertaining the character of all the schools in their claiming the benefi school of free laws the high That offi required be satisfied that the provisions of the free high school act have been omplied with before issuing certificate for from state. the due Vibele most of the provisions of the law. he can readily sat isty himself from the reports of the Supe tending School Commi ttees, they have with easy complied they sufficient furnish do not data to that prove been has proper paid to attention the specified studies required, and that the form spirit as well as in letter, to the intent law. proper and business that the Super dent should, person, through his agents, schools before vouching the justice of their claim upon the state Besides aff ding the endent inforhis ch bei should such would greatly tend elevate standard and promote the efficiency of this class The virtual institution of High Schools by the state. through the aid proffers for their port. wise and timely act. full accord with the provision of the joining the of education upon the Legislature. The system has been operati fairly and has But care lest value. should taken failing to maintain proper standard, they only defeat the object their institut injuriously affect the comm schools. My commer ation is intended to subserve the inboth terests grades. the universal lv expressed opinion of those having the most vledge of our better struction is the one thing needful their efficiency The Normal Schools are this behalf in extent service good to the Since the their capacity discontituance Institutes. the Teachers' great majority the common teachers had of have portunity for taining instru ction in the art teaching The renewal of Institutes re for consideration your suggested spectfull; AVINGS BANKS new No banks savings have been organized 1875. Since Augus the past year. four of the four sixty savings banks the state have come insolt vent and been placed the hands receivers, and three others suspended payment. One of these latter, tue Watervill Savings' Bank, has resumed pay ment by the action No depositors. the been accepted by the depositors of the two other banks amount of eposits and profits of the banks doing on sixty the 6th last. 818.764 decrease $4 264.549 58. cluding $1 029,963.95 deposits placed in the hand of The number decrea during year 10,705 The present number 90.621. and the deposits average $306. 00 to each deposito The Wintbrop Savings Bank was taken before fixed the by day by law for ma king returns to the State expired urer for the six months then refused the receivers pay this recove that tax period. by the State and prosecu by the Attorney General to final judgment by Law Court to the effect that the on franchise savings banks, and the bank ceased Vinthrop having due for the noth from was return which assess upon ing tax the claim of the state was herefore no App lications growing out of this be probably the cision Legislat will by several banks for the refund ling of taxes al paid have been improperly The Comm appointed for the purpose under resolve the last Leg slature, have of draft general law relating prepare which you. savings to reported A principal feature of the proposed law the -half of bstitution one cent. for the present tax one per cent. The relatively taxation the conside rate upon other anchises and property, otherwise regarded as than in favor of the banks. The only question whether maintain tending expedient, the reduce deposits and to rate. of the Legislature shall favor the affirmative the question trust that the reduction made will not exceed -fourth of one per cent. HOSPITAL INSANE THE the The past year has been made notable in history the Insane Hospital by the tion of rks for ng the water. The source supply an pond avated that part of the farm east and the fed highway receive the drainage


Article from Oxford Democrat, January 9, 1877

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ment. I am convinced that the office cannot at present be advantageously dis- continued, and that the transfer of its du- ties to some other department would neither benefit the public service nor ef- tect an economy. # THE PUBLIC SCHOOLS. The statistics of the common schools for the school year ending April 1, 1876, do not differ ma- terially from those for the preceding year. They indicate, however, a continued interest and pro- gress in all that relates to them. The sum of $1,- 054,497, was expended for public schools, to which the State contributed the available amount of $375,862. Eighty-six school houses were built during the year at a cost of $161,309. The laws concerning the relations of the State to the schools work admirably, and are heightened In efficiency by the recent act requiring sworn fiscal returns to be made to the state Superintendent. It is believed that this law proves of benclit to towns also in enforcing a strict account of all school moneys belonging to them from whatever source derived. I invite you to consider the advisability of the providing for the inspection of High Schools by the State Superintendent of Common Schools to appoint a sufficient number of competent persons to aid him tu visiting and ascertain the character of all the schools in their respective vicinities, claiming the benefit of the free high school law. That officer is required to be satisfied that the provisions of the tree high school act have been complied with before issuing his certificate for the sum due from the State. White as to most of the provisions of the law, he can readily satisfy him- self from the report of the superintending School Committees, whether they have been complied with, it is easy to perecive that they do not fur- nish sufficient data to prove that the proper atten- tion has been paid to the specified studies requir- ed, and that the schools conform to in spirit as well as in letter to the intent of the law. It is proper and business-like that the Superintendent should, in person, or through his agents, examine these schools before vouching for the justice of their claim upon the State. Besides affording the Superintendent information, which should be in his possession, such an inspection would greatly tend to elevate the standard and promote the effi- ciency of this class of schools. The virtual institution of High Schools by the State, through the aid it proffers for their support, was a wise and timely act, in full accordance with the provisione of the Constitution enjoining the encouragement of education upon the Legislature. The system has been four years in operation, and has fairly demonstrated its value. But care should be taken lest by failing to maintain a proper stand- ard they not only deleat the object of their insti- tution, but injuriously affect the common schools. My recommendation is intended to subserve the interests of both grades. It is the universally expressed opinion of those having the most knowledge of our schools that better instruction is the one thing needful to their efficiency. The Normal Schools are doing good service in this behalf to the extent of their capac- ity. Since the discontinuance of the Teachers' Institutes a great majority of teachers in common schools have had no opportunity for obtaining in- struction in the art of teaching. The renewal of Institutes is respectfully suggested for your con- sideration. # SAVINGS BANKS. No new savings banks have been organized the past year. Since August, 1875, four of the sixty- four savings banks in the State have become insol- vent and been placed in the hands of receivers, and three others have suspended payment. One of these latter, the Waterville Savings Bank, has resumed payment by the action of the depositors. No arrangement has yet been accepted by the de- positors of the two other banks. The amount of deposits and profits of the sixty banks doing business, was, on the oth of Novem- ber last, $27,818,764,70, a dceresse during the year of $1,264,549 68, including $1,029,063 16 of deposits placed in the hands of receivers. The number of depositors decreased during the year 10,708. The present number is 90,621, and the deposits average 3306 to each depositor. The Winthrop Savings Bank was taken posse8- sion of by receivers before the day fixed by law for making returns to the State Treasurer for the six months then nearly expired, and the receivers refused to pay the tax for that period. A suit to recover this tax was brought by the State Treasur- er, and prosecuted by the Attorney General to final judgment by the Law Court to the effect that the tax is upon the franchise of savings banks, and the Winthrop bank having ceased to exist before the return for taxation was due from it, nothing remained upon which to assess a tax, and the claim of the state was therefore not a valid one. Applications growing out of this decision will pro- bably be made to the Legislature by several banks for refunding of taxes alleged to have been im- properly paid. The Commissioners appointed for the purpose under a resolve of the last Legislature, have pre- pared a drait of a general law relating to savings banks which will be reported to you. A principal feature of the proposed law is a substitution of a tax of one half of one per cent. for the present tax of one per cent. The present rate of taxation, considered relatively to the tax upon other fran- chises and property, cannot be regarded as dis criminating otherwise than in favor of the banks. The only question is whether it is expedient, as tending to maintain and increase deposits to reduce the rate. If the Legislature shall tavor the affim- ate of the question I trust that the reduction made will not exceed one-fourth of one per cent.


Article from Daily Kennebec Journal, December 25, 1877

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Supreme Judicial Court.-Libbey, J. presiding. MONDAY, December 24. The closing proceedings of a long term are always full of variety and some of them quite complex, but possess no interest to the public. The general business of the court is wound up, and judgment in all matters finally acted upon and disposed of has been entered. But in order to close up the affairs of the Winthrop Savings Bank which are in the hands of a Receiver, it became necessary to have another session of this court at a future day. That case and no other is open for a further hearing. Adjourned to Friday, Jan. 18th, at 10 A. M.


Article from Daily Kennebec Journal, March 14, 1878

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AUCTION SALE. ILL BE SOLD AT PUBLIC AUCTION, at the W the office of A.C. Carr, in Winthrop, on the 30th dav of March, 1878. atten o'clock A. M., the store, buildings and lot, on Main St., Winthrop Village, occupied by R. A. Rice, and known as the Luther Whitman Store. Also, lot of land in Chesterville, containing two hundred acres, more or less, same mortgaged to Winthrop Savings Bank, Aug. 4. 1873, by Rufus and D. T. Moody. Deed recorded in Franklin County Registry Book 81. page 120. Also, claim against Jere Day, secured by mort gage on real estate in Leeds, given said Bank, June, 7th, 1875. Recorded in Franklin County Registry Book, 81 Page 44.1 Also demand against James Nickles and al., secured by mortgage on real estate in East Livermore, given said Bank, June 28th, 1875. Record. ed in Androscoggin County Registry, Book 81, page 45. Reference is had to said deeds for particular description. Also, DOTES against Luther Whitman, Summer H. Stanley and al., and Rufus Moodv and al., given to said Bank. EMERY O. BEAN, Receiver of Winth:op Savings Bank. mar14 13t&wmar19&24


Article from Daily Kennebec Journal, March 26, 1878

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AUCTION SALE. ILL BE SOLD AT PUBLIC AUCTION, at the W the office of A. C. Carr, in Winthrop, on the 30th day of March, 1878. atten o'clock A. M., the store, buildings and lot, on Main St., Winthrop Village, occupied by R. A. Rice, and known as the Luther Whitman Store. Also, lot of land in Chesterville, containing two hundred acres, more or less, same mortgaged to Winthrop Savings Bank, Aug. 4, 1873, by Rufus and D. T. Moody. Deed recorded in Franklin County Registry Book 81, page 120. Also, claim against Jere Day, secured by mort. gage on real estate in Leeds, given said Bank, June, 7th, 1875. Recorded in Franklin County Registry. Book, 81 Page 44.1 Also demand against James Nickles and al., secured by mortgage on real estate in East Liver. more, given said Bank, June 28th, 1875. Recorded in Autroscoggin County Registry, Book 81, page 45. Reference is had to said deeds for partienlar description. Also, notes against Luther Whitman, Sumner H. Stanley and al., and Rufus Moody and al., given to said Bank. EMERY O. BEAN, Receiver of Winthrop Savings Bank. marl4-13t&wmar19&26


Article from Daily Kennebec Journal, April 2, 1878

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Supreme Judicial Court-Danforth. J., Presiding. MONDAY, April 1. The judge sat three or four hours this forenoon, busily disposing of a miscellaneous lot of motions, &c., such as usually come up at the close of a term, and then adjourned the court, but not finally. An adjourned term was found necessary to enable Mr. Bean, the receiver of the Winthrop Savings Bank, to present his final account and obtain an order authorizing a further dividend to depositors. There are also several important cas. es now under reference, where reports are soon to be made, and where the parties are desirous of having judgment entered therein, without unnecessary delay. For these purposes the court adjourned to Friday, April 19h, at 9 A.M.


Article from The Portland Daily Press, April 3, 1878

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STATE NEWS KENNEBEC COUNTY. Orders have been received making a reduction of 15 per cent. in the wages of the operatives in the cotton mills in Augusta after the 15th of April. This must be done or the mills closed, in the present depressed sale of all print goods. An adjoursed term of the Kennebec Co. S.J. Court is found necessary to enable Mr. Bean, the receiver of the Winthrop Savings Bank, to present his final account and obtain an order authorizing a further dividend to depositors. There are also several important cases now under reference, where reports are soon to be made, and where the parties are desirous of having judgment entered therein, without unnecessary delay. OXFORD COUNTY. Mr. A. J. Perkins of Byron, was accidentally shot in the hand last week by the premature discharge of revolver. Mrs. McAllister of Greenwood, attempted suicide the 27th inst. by shooting. The ball took effect in her forebead but did not penetrate the skull. She is in a dangerous condition. The Supreme Court at its recent term in Oxford county, decreed twelve divorces. "Dr." Stevens, convicted of bigamy at the September term. was sentenced to state prison for two years. One Lord, convicted of adultery, was sentenced to one year in state prison. Moses Waldron & Co., proprietors of the Lewiston Gazette, plead nolo condendere to an indictment of libel and paid a fine of $25 to cover the costs of prosecution. PENOBSCOT COUNTY. Eggs are are only ten cents a dozen in Bangor. SAGADAHOC COUNTY. The directors of the Knox and Lincoln railroad have voted to grant no more free passes to the press. WASHINGTON COUNTY. A few days ago Mr. Washington Alley of Head Harbor Island, administered a severe chastisement to one of his sons by means of his boot. He then went on board his vessel, where he remained till near night. The son in the meantime loaded a gun, and remarked to his brother that it was not to shoot a crow. He then kept watch of his father, and as soon as be came within gun shot of the bouse he fired. Fifteen shot took effect. None of them proved fatal. On Thursday of last week, Miss Nellie Preston of Pembroke, house-keeper of Sanford H. Morang, went out some distance back of Morang's house to call him to dinner. He was chopping down a tree at the time, and she waited for him to get through; and sat down near the tree he was chopping. Toe tree in falling took the wrong cant, and tell on Miss Preston, very nearly killing her instantly. One leg was broken in two place, and an arm dislocated from the shoulder, and her head receiving


Article from Daily Kennebec Journal, April 20, 1878

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Supreme Judicial Court-Danforth, J., Presiding. FRIDAY, April 19th. An adjourned term of the court was held at the court house this forenoon. Nothing of public interest transpired, although the docket was cleared of several hard cases ot long standing. Mr. Bean of Readfield, Receiver of the Winthrop Savings Bank, presented his final account of assets in his hands for distribution, which was allowed and a final dividend of 8 1-10 per cent. ordered to be paid to the depositors-making with former dividends $73.10 on the hundred. Under the act of the legislature (Chap. 67, Laws of 1878) approved Feb. 21, 1878, which provides an additional remedy for the enforcement of judgments, the judge appointed as commissioners Leonard D. Carver of Waterville; Herbert M' Heath, Augusta; Henry C. White, Gardiner; Arthur Libbey, Augusta; and Fred E. Bean, Readfield. Adjourned without day.


Article from Daily Kennebec Journal, December 16, 1878

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inthrop, $11112.83 $114.53.38 $1061 12 73 -10c. 3530-34 3762840 354 93 ets. acksport, 160,196.13 163,530.98 716.87 60 ets. 00 nation'n. 839,778.44 753 053 13 4,266.71 78 ets. 66.00 79,823.50 Final dividends to depositors have been made in Winthrop Savings Bank and the Lewiston In itution for Savings Amount of expenses al owed settlement of the fairs of the Winthrop Sav Bank W** $14,899.87 Thissum includ- the ward of $10,000 in procuring $66,'00.00 stolen the bank at the time of its robberr in 1875 be amount paid to depositors $83 976 99 and to persons $14 899.87 Amount collected from assets $98,876.86 Amount of expenses al in settlement in the Lewiston Institution for avings wa $15,379.14. Amount C' llected from asset. $608,472.17. Amount paid to depositors 587,363.55. and to other persons $19,645.85 mount uncalled for $1,462 77. There will be an settlement in the Solon Savings Bank, and probable final settlement in the Bucksport SavBank, within eighteen menths. Thirteen of the fifty-nine savings banks now dobusiness, have had their deposit accounts re by decree of court, under the provision of thirtv six of the act to revi-e and consoli the laws relating to Savings Banks, approved ebruary 8, 1877, as follows; Brunswick Savings stitution, Thomaston, Orono, Camden, Bangor, ndroscoggin County, Pen broke. Calvis Skowhe. Bridgton, Anburn, Dexter. Frankl County. It is believed that ultimately there will be no to depositors in the Auburn and Bangor that the losses in the others will range two to ten per cent., exceat Thomaston. hich will be about twen tv per cent. The losses these banks with one exception are comparativesmall, and in all the result of shrinka es that not he for seen, many of which are tempoThe losses in the savings banks of this State largely the result of shrinkage of assets which within a reasonable time mainly rec ver their If the law of our State forced the disconnuance of business and the closin of a bank henever the losses rendered it insolvent, it ould be the very means of foreing the sale of its preciated assets without giving time for apore making permanent what might have been a temporary loss. Notwithstanding the foolpanic of the past, based on hare assertions of signing men, the savings bank. of this State will examin ation, and the facts wil fully justify statement that theseinstitutions with the large nount of money held and invested by them. with exceptions, have been well managed and pruconducted through all times. 1. i- believed it may be saiely stated, that the $23,173,112. which these banks now hold, have suffered less shrinkage than any like amount of capwhich has been invested by the best business of the country, since the inauguration of our war. The result of the law of 1877 authorizthe court to reduce the deposit accounts of positors. so as to divide losses pro rata among so far, has been beneficial to all concerned. recommends that the law be so amended as to opower the court to reduce the deposit account