American Bank & Trust Company (Auburn, ME)

Episode Information

Episode UID
2617795691164
Episode Type
Suspension β†’ Closure
Bank Type
trust
Bank ID
261779569 hash
Start Date
December 23, 1896
Location
Auburn, Maine (44.098, -70.231)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f98bb26a8bcd9383

Response Measures

None

Events (2)

1. December 23, 1896 Suspension
Cause
Local Shock
Cause Details
Inability to realize on western mortgage investments and credit stringency due to late wheat crop and farmers holding grain, causing liquidity problems.
Newspaper Excerpt
The American Banking and Trust Co. of Auburn has closed its doors and made application to the court for the appointment of a receiver.
Source
newspapers
2. January 1, 1897 Receivership
Newspaper Excerpt
Judge Walton has appointed L. Linn Small of Auburn, receiver of the American Bank and Trust Co. of Auburn. Mr. Small has filed a bond and taken possession of the bank.
Source
newspapers

Newspaper Articles (19)

Article from Daily Kennebec Journal, December 24, 1896

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Article Text

FAILURE AT AUBURN. American Banking and Trust Co. Close Its Doors. Deposits Are Not Large and Liabilities Will Be Fully Met. Burglars Get $300 in Cash and a $1000 Bond at Portland. Lewiston, Dec. 23.-The American Banking and Trust Co. of Auburn has closed its doors and made application to the court for the appointment of a receiver. This institution was chartered about 10 years ago and its business was largely in Western mortgages in South Dakota. The suspension is due to the inability to make collections on maturing obligations, borrowers asking for extensions and renewals on their loans to an unusual extent. The deposits are not large and there are abundant assets to pay depositors in full as soon as a portion of the assets can be turned into cash. Delay will be unavoidable, but aside from this the depositors need have no anxiety. The deposits and bills payable amount to $54,408.19. The available assets, consisting of cash on hand and on deposit, real estate, real estate mortgages, loans and discounts and other personal property amount to $130,743.05. to say nothing of the double liability of the stockholders. The application for the appointment ofa receiver was made by the directors believing it to be the best step to take. under the circumstances, to protect the interests of all concerned. The officers of the company were W. W. Bolster, president, and F. W. Hunton, treasurer. The capital was $75,000. The application for a receiver was made to Judge Walton at Portland, Wednesday.


Article from The Wichita Daily Eagle, December 24, 1896

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DAY'S NEWS OF FAILURES Assignments. Receiverships, Foreclosures and Financial Disasters Generally. Sioux City, Ia., Dec. 23.-The ParsonsPelletier Dry Goods company, one of the largest houses of the kind in Sioux City, did not open for business today. The stock is in the hands of the mortgagee, who holds claims against the firm for $31,533. J. V. Farwell & Co., of Chicago, for $$34,424; Marshal Field of Chicago, for $30,595. and the Farmers Loan and Trust company of Sloux City, for $$9,000, are holders of first mortgages, and H. B. Claffin & Co., of Chicago, holds a second mortgage for $$17,500. No figures as to assets are given. The failure IS due to insufficient capital and the general stringency of the times. No local firms are affected by the failure. New oYrk, Dec. 23.-The New York and New Jersey Lumber company, a West Virginia corporation. today assigned to Harwood R. Pool. The company was incorporated in 1892. New York, Dec. 23.-Solomon Sayles, wholesale and retail dealer in meats and provisions, has assigned to Charles A. Hess, without preferences. Auburn. Me., Dec. 23.-The American Banking and Trust company of Auburn. closed its doors and made application for a receiver todax.


Article from Wheeling Register, December 24, 1896

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AN OTHER BANK IN TROUBLE. Auburn, Me., December 23.-The American Banking and Trust Company, of Auburn, closed its doors and made application for a receiver to-day.


Article from The Roanoke Daily Times, December 24, 1896

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STILL ANOTHER FAILURE. Auburn, Me., Dec. 23.-The American Banking and Trust Company, of Auburn, closed its doors and made application for R receiver to-day.


Article from Evening Journal, December 24, 1896

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MAINE BANK FAILS. Directors Claim to Have Been Swamped by Western Investments. AUBURN, Me., Dec.:44.-The American Banking and Trust company of this city has closed its doors and made an application with Judge Walton of the supreme court for the appointment of a receiver. The directors issued a statement attributing their action to inability to realize on western investments sufficiently to meet the immediate demands of depositOPS. The bank holds mortgages on farm and city property in Nebraska, Mhinesota and South Dakota, and the lateness of the whe it crop, together with the holding by the farmers of their wheat crops for higher prices, has caused the stringency of money. The bank has a capital stock of $75,000. Its available assets are $130, 748.06 and its liabilities $54,408.1 19. The suspension caused considerable anxiety among depositors, and there is some talk of it possible run on other banks. The officers of the bank are: President, W. W. Bolster: treasurer, F. W. Hunton: directors, F. R. Conant, N. W. Harris, J. E. Briggs, Winthrop: II. H. Gurney, E. P. Wentworth, Deering.


Article from The Topeka State Journal, December 24, 1896

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MAINE BANK FAILS. An Institution at Auburn Closes Its Doors-Other Failures. Auburn, Me., Dec. 24.-The American Banking and Trust company of Auburn has closed and made application for a receiver. The directors publish a statement attributing their trouble to inability to realize on investments sufficient to meet the demands of depositors. The lateness of the wheat crop together with the holding by farmers of their wheat crop for higher prices has caused the stringency of money. The bank has a capital stock of $75,000. Its available assets are $130,000 and its liabilities $54,400. New York, Dec. 24.-The New York & New Jersey Lumber company, a West Virginia corporation, has assigned to Harwood R. Pool. The company was incorporated in 1892.


Article from Richmond Dispatch, December 24, 1896

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A Maine Bank Suspends. LEWISTON, ME., December 23.-The American Bank and Trust Company, of Auburn, chartered in 1886, has closed its doors, and has asked the court for the appointment of a receiver. The deposits are not large, and the bank officials say there are assets enough to pay depositors In full, as soon as the assets can be turned into cash. The deposits and bills payable amount to $54,403 and the assets are nominally $130,743. The business of the institution was largely in western mortgages.


Article from The Somerset Reporter, December 24, 1896

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Article Text

The American Banking and Trust Co., of Auburn has closed its doors and made application to the court for the appointment of a receiver. The suspension is due to the inalii y to make collections on maturing obligations. Deposits are not large and liab lities will be fully met. Mdme. Lillian Nordiea is to appear in Portland, Dec. 30.


Article from Evening Star, December 24, 1896

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Article Text

The American Banking and Trust Company of Auburn, Me., has closed its doors and make application for a receiver.


Article from The Diamond Drill, December 26, 1896

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LATER. Allen Creer and the wife and daughter of Rud Owens were drowned in Clarks river near Paducah, Ky., by the capsizing of a boat. Fire in the fashionable residence part of Montreal, Que., caused a loss of $100,000. The Bank of West Superior, Wis., capital $50,000 and $50,000 surplus, suspended because of the failure of the National bank of Illinois in Chicago. J. D. Williams, a mulatto, shot his wife and then killed himself in Washington. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, Ia., failed for $100,000. A large portion of the business section of Somerset, Ind., was wiped out by fire. William Henry Hatch, ex-congressman and author of the famous "Hatch" or "anti-option bill." died at his home near Hanibal, Mo., aged 63 years. He was a member of congress from 1878 to 1894. Mrs. Henry Bond and Miss Tyrrell, sisters, living at Woodbourne, Pa., were killed by the cars at a crossing. By the explosion of a steam pipe in the city hall in Baltimore James Reilly and Charles Robertson were fatally scalded. The American Banking and Trust company of Auburn, Me., closed its doors with liabilities of $55,000. A train on the Chicago & Alton road was held up by robbers near Independence, Mo., and the express car looted. Solomon Sayles, wholesale meat dealer in New York, failed for $250,000. The French government in Madagascar has issued a decree abolishing slavery. The wife of Noah Scott, of Shelbyville, Ind., gave birth to four boys and all were doing well. An explosion of nitro-glycerin near Montpelier, Ind., killed George Hickok and Harry Wood and greatly damaged the property of the Empire Glycerin company. The bark Jamaica was lost off Dos Rosas Tabasco and 16 persons were drowned. Hon. William J. Bryan opened his lecture tour at Atlanta, Ga., his subject being "The Ancient Landmarks." Mrs. H. Estby and her daughter Clara, 19 years old, arrived in New York from Spokane, Wash., having walked the entire distance since May 5 on a wager that they could cross the continent in seven months.


Article from Willmar Tribune, December 29, 1896

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afflicted last summer. William Hale Thompson, captain of the football team of the Chicago Athletic club, has been sued for $100,000 for breach of promise by Jennie F. Hutchinson. The Nicaraguan government has called for a voluntary loan of $500,000, one-half payable in cash and the rest in paper representing the public debt issued to pay expenses of former wars. Thursday, Dec. 24. The gunboat Annapolis, designed as the practice cruiser of the naval acad. emy, has been launched. German merchants are said to have combined to control both the importing and exporting trade of Japan. The American Banking and Trust company of Auburn, Me., closed its doors and made application for a receiver. It is officially stated that the plague is increasing at Bombay and Carachi. The seaport of Sinde is also declared to be infected. Charles Butler. 96 years old, president of the corporation of the Union Theological seminary. is dying of pneumonia at his home in New York. The ceremony of enthroning Rt Rev. William David Walker as Protestant Episcopal bishop of Western New York was celebrated at Buffalo Wednesday There has been a phenomenal increase of coffee planting in Liberia and the exports for the last fiscal year amounted to 3,000,000 pounds, against 600,000 pounds 10 years ago. Friday, Dec. 25. Miss Frances Willard is seriously ill. Peter Maher whipped Steve O'Don. nell in 27 seconds at Coney Island. John S. Johnson and Olaff Rudd broke two world's records in skating at Minneapolis Queen Lilinokalani, who arrived in Washington at an early hour Christmas morning. departed after a short rest. without setting foot on the soil of the capital. The monthly statement of the collections of internal revenue shows the total receipts for the month of Novem. ber were $12.701,369, a decrease as com. pared with November last year of $227,357 For the 5 months of the pres. ent fiscal year the decrease was $651,917. Saturday, Dec. 26. Queen Liliuokalani has arrived in Boston. New York experienced a $500,000 fire, several business blocks being destroyed. A child was killed by a street car in Chicago Christmas, and the motorman was terribly beaten by a mob and narrowly escaped lynching. Reginald Barrows. 16 years old, suicided at Minneapolis while an officer was attempting to place him under ar. rest for a trivia! offense. He was mentally unbalanced. The Denver board of aldermen has adopted resolutions urging the Colorado senators and representatives in congress to use their best efforts to secure the passage of the Cameron resolutions. At Pittsburg, Anna Held, the French singer, introduced for the first time in America the French Christmas custom of street singing for "sweet charity's sake." Her effort was successful beyond expectation, and she turned over to the Humane society $803. FOR FREE HOMESTEADS. Present Congress Likely to Modify Exist. ing Land Laws. WASHINGTON, Dec. 23.-It now looks as if


Article from The Ely Miner, December 30, 1896

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Two children of Mrs. Christine Carlisle, Tommy, aged two, and Ruth, aged four, were burned to death at Wakefield, O. The mother had locked them in the house and gone to a neighbors. Fire destroyed two buildings at the state reformatory in Elmira, N. Y., entailing a loss of $100,000. In Chicago the George A. Weiss Malting and Elevator company failed for $500,000, and Angus & Gindele, contractors, for $250,000. Scott Wike, of Illinois, assistant secretary of the United States treasury, has resigned. James Preston, aged 40, shot his wife, Amanda, aged 37, and the latter's son, William Bryant, aged 19, in Cincinnati, and then shot himself. Domestic trouble was the cause. Mrs. J. Suppler's sugar house at White Castle, La., was destroyed by fire, together with 3,500 barrels of sugar, the loss being $200,000. The annual statement of railroad construction shows that during 1896 only 1,802 miles of lines were built in the United States, the smallest mileage in any year since 1875. The New England Society of the City of New York celebrated the ninety-first anniversary of its organization and the two hundred and seventy-sixth of the landing of the pilgrims. Walbridge & Co.'s hardware and house furnishing establishment in Buffalo, N. Y., was damaged by fire to the extent of about $150,000. The remains of Kate Field arrived in San Francisco from Honolulu. They will be cremated and the ashes sent east for burial. Allen Creer and the wife and daughter of Rud Owens were drowned in Clarks river near Paducah, Ky., by the capsizing of a boat. The Bank of West Superior, Wis., capital $50,000 and $50,000 surplus, suspended because of the failure of the National bank of Illinois in Chicago. J. D. Williams, a mulatto, shot his wife and then killed himself in Washington. Hon. William J. Bryan opened his lecture tour at Atlanta, Ga., his subject being "The Ancient Landmarks." Mrs. Henry Bond and Miss Tyrrell, sisters, living at Woodbourne, Pa., were killed by the cars at a crossing. A train on the Chicago & Alton road was held up by robbers near Independence, Mo., and the express car looted. The American Banking and Trust company of Auburn, Me., closed its doors with liabilities of $55,000. Solomon Sayles, wholesale meat dealer in New York. failed for $250,000. Mrs. H. Estby and her daughter Clara, 19 years old, arrived in New York from Spokane, Wash., having walked the entire distance since May 5 on a wager that they could cross the continent in seven months. A large portion of the business section of Somerset, Ind., was wiped out by fire. The Parsons-Pelletier Dry Goods company, one of the largest houses of the kind in Sioux City, la., failed for $100,000. The wife of Noah Scott, of Shelbyville, Ind., gave birth to four boys and all were doing well. An explosion of nitro-glycerin near Montpelier, Ind., killed George Hickok and Harry Wood and greatly damaged the property of the Empire Glycerin company. President Cleveland has approved the general pension and urgent deficiency appropriation bills. By the explosion of a steam pipe in the city hall in Baltimore James Reilly and Charles Robertson were fatally scalded. W. H. Jones, county treasurer of BarΞ“y county, Mo., for the past four years, is said to be short $13,000 in his accounts. There were 287 business failures in the United States in the seven days ended on the 25th, against 367 the week previous and 322 in the corresponding period of 1895. Miss Anna Held, the French actress, who is playing at the Grand opera house in Pittsburgh, sang on the public streets of the city for the benefit of a charitable institution and over $800 was poured into her carriage. Fire destroyed the Huffman house block in Rockford, III., the total loss being $175,000. The home of Philip McKim, near Franklin. Pa., was burned and three little children perished in the flames. The Columbia, known as the old Doxey theater building, was burned at Anderson, Ind., the loss being $90,000. The Calumet state bank at Blue Island, III., closed its doors with liabilities of $70,000. Jay Van Seyoe and Earl Campbell. two young men of Valley, Neb., were drowned while skating on a lake.


Article from The Austin Weekly Statesman, December 31, 1896

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CLOSED ITS DOORS. Auburn, Me., Dec. 23.-The American Banking and Trust company of Auburn closed its doors and made application for a receiver today.


Article from The Columbia Herald, January 1, 1897

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Petition for Receiver. AUBURN, Me., December 29.-A petition for a receiver for the American Trust and Banking Company has been filed. The assets and liabilities are unknown.


Article from Daily Kennebec Journal, January 2, 1897

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RECEIVER APPOINTED. L. L. Small Will Wind Up Affairs of American Bank & Trust Co. Lewiston. Jan. 1.-Judge Walton has appointed L. Linn Small of Auburn, receiver of the American Bank and Trust Co. of Auburn. Mr. Small has filed a bond and taken possession of the bank.


Article from The Portland Daily Press, January 2, 1897

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Receiver for Auburn Bank. Lewiston, January 1.- - Lincoln Small, Esq., of Auburn has been appointed receiver of the American Banking and Trust company of Aubuin. Mr. Small filed the $20,000 bo nd required by Judge Walton, who made the appointment, and took charge of the bank Friday afternoon.


Article from The Greenville Times, January 2, 1897

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A Receiver Asked For. AUBURN, Me.,Dec. 31.-Bank Examiner Timberlake has filed a bill in equity against the American Banking and Trust Co., of this city, asking that a receiver be appointed.


Article from The L'anse Sentinel, January 2, 1897

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at Elizabeth, Frederick Joblinski and his son and daughter were murdered and his wife fatally wounded by John Mottle, the hired man, near Madelia. Minn., and the murderer also took his own life. Mottle was in love with Joblinski's daughter and the father objected. Joe James (colored) was lynched at Woodstock, Ala. He attempted to assault Fannie Smith, aged 17. while she was on her way to school. The Bank of Minnesota, one of the oldest financial institutions of the state, and considered one of the strongest in St. Paul, closed with heavy liabilities, and as a result the Union stockyards bank was forced to close. Fire destroyed two buildings at the state reformatory in Elmira, N. Y., entailing a loss of $100,000. In Chicago the George A. Weiss Malting and Elevator company failed for $500,000, and Angus & Gindele, contractors, for $250,000. Scott Wike, of Illinois, assistant secretary of the United States treasury, has resigned. James Preston, aged 40; shot his wife, Amanda, aged 37, and the latter's son, William Bryant, aged 19, in Cincinnati, and then shot himself. Domestic trouble was the cause. Mrs. J. Suppler's sugar house at White Castle, La., was destroyed by fire, together with 3,500 barrels of sugar, the loss being $200,000. The annual statement of railroad construction shows that during 1896 only 1,802 miles of lines were built in the United States, the smallest mileage in any year since 1875. The New England Society of the City of New York celebrated the ninety-first anniversary of its organization and the two hundred and seventy-sixth of the landing of the pilgrims. Walbridge & Co.'s hardware and house furnishing establishment in Buffalo, N. Y., was damaged by fire to the extent of about $150,000. The remains of Kate Field arrived in San Francisco from Honolulu. They will be cremated and the ashes sent east for burial. Allen Creer and the wife and daughter of Rud Owens were drowned in Clarks river near Paducah, Ky., by the capsizing of a boat. The Bank of West Superior, Wis., capital $50,000 and $50,000 surplus, suspended because of the failure of the National bank of Illinois in Chicago. J. D. Williams, a mulatto, shot his wife and then killed himself in Washington. Hon. William J. Bryan opened his lecture tour at Atlanta, Ga., his subject being "The Ancient Landmarks." Mrs. Henry Bond and Miss Tyrrell, sisters, living at Woodbourne, Pa., were killed by the cars at a crossing. A train on the Chicago & Alton road was held up by robbers near Independence, Mo., and the express car looted. The American Banking and Trust company of Auburn, Me., closed its doors with liabilities of $55,000. Solomon Sayles, wholesale meat dealer in New York. failed for $250,000. Mrs. H. Estby and her daughter Clara, 19 years old, arrived in New York from Spokane, Wash., having walked the entire distance since May 5 on a wager that they could cross the continent in seven months. A large portion of the business section of Somerset, Ind., was wiped out by fire. The Parsons-Pelletier-Dry Goods company, one of the largest houses of the kind in Sioux City, Ia., failed for $100,000. The wife of Noah Scott, of Shelbyville, Ind., gave birth to four boys and all were doing well. An explosion of nitro-glycerin near Montpelier, Ind., killed George Hickok and Harry Wood and greatly damaged the property of the Empire Glycerin company. President Cleveland has approved the general pension and urgent deficiency appropriation bills. By the explosion of a steam pipe in the city hall in Baltimore James Reilly and Charles Robertson were fatally scalded. W. H. Jones, county treasurer of Barry county, Mo., for the past four years, is said to be short $13,000 in his accounts. There were 287 business failures in the United States in the seven days ended on the 25th, against 367 the week previous and 322 in the corresponding period of 1895. Miss Anna Held, the French actress, who is playing at the Grand opera house in Pittsburgh, sang on the public streets of the city for the benefit of a charitable institution and over $800 was poured into her carriage. Fire destroyed the Huffman house block in Rockford, III., the total loss being $175,000. The DUV-


Article from Spirit of the Age, January 2, 1897

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Position for Receiver Not Granted. PORTLAND. Me., Jan. 1- - The officers of the American Banking and Trust Company of Auburn petitioned Judge Walton to appoint a receiver. Judge Walton decided not to grant the petition, but let Bank Examiner Timberlake present a similar official petition.