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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.
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A receiver will be appointed to close up the affairs of the Winthrop Savings Bank. Hon. W. W. Bolster, the Bank Examiner, 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 property.
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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.
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Supreme Judical Court, Danforth J., Presiding. FRIDAY, April 28. Judge Danforth came in at ten o'clock in the forenoon, and disposed of all the remaining unfinished business by half past twelve and then adjourned the court without day. The term has been three weeks at least longer than any March term in Kennebec, within the memory of the oldest lawyer. But this was owing entirely to the unusually protracted trial of the Abbot will. Before Judge Libbey retired, the commissioners appointed to ascertain the amounts due to depositors and others, upon the sequestered funds of the Winthrop Savings Bank, made their final report, and the Judge thereupon authorized the receiver, Emery O. Bean, Esq., to declare and pay out to such depositors a dividend of 40 per cent. It is understood that a further dividend will be made hereafter.
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The Savings Bank tax, came before the Law Court for the middle district, in this city. The Commissioners on claims against the Winthrop Savings Bank rejected the claim of the State for the tax, payable in November last, on the ground that the tax did not attach, the Bank having gone into the hands of a receiver in September, prior to the date of the tax. The State filed exceptions, claiming that the tax was on the deposits, and not the franchise, and that the tax attached to the deposits as soon as they were made, and clung to them until the pay day. E.O. Bean, Esq., argued for the bank, and Attorney General Emery and County Attorney Whitehouse argued for the State. The decision is reserved.
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LIABILITIES. Capital stock $125,000 00 Circulation 3,512 00 Deposits 72,290 30 Due on dividends 2,175 06 Due on books 3,076 00 Discount 1,804 20 Profits 31,686 79 Total $239,545 25 ASSETS. Loans $165,321 36 Bank stock 700 00 Real estate 4,000.00 Due from banks 42,498 38 Bills of other banks 9,164 49 Cash on checks 17,861 03 Total $239,545 25 The American Bank of Hallowell now owes on final settlement $1669, with assets to pay this in outstanding certificates of $1468.72. ASSETS OF THE SAVINGS BANKS. The number of organized savings banks in the State is the same as last year, sixty-four, four of which have become insolvent and have passed into the hands of receivers, viz: Winthrop savings bank of Winthrop; Solon savings bank of Solon; Bucksport savings bank of Bucksport; Lewiston Institution for Savings of Lewiston. The assets of the banks now actually doing business, are as follows, as compared with last year:
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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
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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.
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AUCHION SALE. ILL BE SOLD ATPUBLIC AUCTION, at the W the office 01 A.C. Carr, in Winthrop, on the 30th day of March, 1878. atten o'elock 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 ofland in Chesterville, containing two hundred acres, more or less, same mortgaged to Winterop 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., se. cured by mortgage on real estate is 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, notes against Luther Whitman, Sumner H. Stanley and al., and Refus Moody and al., given to said Bank. EMERY O. BEAN, Receiver of Winthrop Savings Bank. mar14 +3(&wmar19&2;
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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.
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WINTHROP SAVINGS BANK-NOTICE. MERY O. BEAN, Esq,, Receiver of said SavE ings Bank, having filed in the Sup. Jud. Court his final account of as-ets collected, and disbursements made, and asked leave to make further dividends 10 depositors, also an application to pay dividends 10 certain depositors who had not died their books with the Commissioners: IT IS ORDERED by said Court, that notice be given by previous advertisement three weeks succes. sively in the Kentebee Journal, that said court will be in session at Augusta, on Friday the 19.h day of April inst., at 10 o'cl ek in the forenoon, for the purpose of he, ring and disposing of said matters as justice may require. All persons inerested are accordingly notifi d to be then and there present and heard, if they see fit. Augusta, April 1, 1878. Per Order, 3w16 WM. M. STRATTON, Clerk.
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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.
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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