American Bank (Hallowell, ME)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
September 1, 1865*
Location
Hallowell, Maine (44.286, -69.791)
Bank Type
state

Metadata

Notes

Bank failed and was in receivership from the 1860s with receivers administering assets and paying dividends through 1875.

Events (4)

1. September 1, 1865* Receivership
Newspaper Excerpt
During the life time of this policy, said Bank failed, and Henry K. Baker, Eliphalet Rowell and Simon Page were appointed receivers of the same, and your petitioner turned over this policy with other papers and assets of the bank to them:
Source
newspapers
2. April 14, 1870 Other
Newspaper Excerpt
The Receivers of the American Bank at Hallowell have made ... their final report upon the assets of the Bank ... Total amount collected, including sales of prop. $25,699.84
Source
newspapers
3. April 20, 1875 Other
Newspaper Excerpt
final dividend of 88 per cent. on outstanding certificates is payable at the office of the undersigned in Hallowell. ... Bills of the bank are of no value. H. K. BAKER.
Source
newspapers
4. February 24, 1876 Other
Newspaper Excerpt
Act authorizing the receivers of the American Bank of Hallowell to pay dividends on lost certificates.
Source
newspapers

Newspaper Articles (11)

Article from Daily Kennebec Journal, April 14, 1870

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Article Text

Your obedient servant. WARREN JOHNSON. Domestic News. The American Bank. The Receivers of the American Bank at Hallowell have made at the recent term of the Supreme Judicial Court in this city, their final report upon the assets of the Bank which came into their hands. Total amount collected, including sales of prop. $25699.84 erty under mortgages and liens, Interest received on money while 1428.16 on deposit,


Article from Rutland Weekly Herald, April 28, 1870

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Article Text

New England Items. - Horses are dying of an unknown disease at Dover, N. H. - B. F. Atwood's little son of five years was killed by a runaway accident at Providence, R. I., on Thursday. - Portland has a "Tenement House company," with a capital of $200,000, which intends to build substantial brick houses to let at a moderate rent. - The shoe manufactories of Dover, N. H., which now outrank in magnitude the cotton and print works of that city, have suspended work temporarily on account of the full supply of goods now in the market. - Newport, R. I., had an exciting municipal election on Wednesday, polling 300 more votes than in the State election. On local issues, James Atkinson, democrat, was chosen mayor by 259 majority. - The grand jury have found a true bill against Charles M. Appel of North Bramford, Mass., for the murder of his brother George, and against Jane Smith for the murder of Emma Sperry of Woodbridge. - The assets of the American Bank at Hallowell, Me., have been cashed by the receiver, and suffice to pay 25 per cent. of the creditors' and bondholders' claims. A further deficiency of $43,875 has been assessed upon the stockholders. - While Dr. Mary Walker was lecturing lately a sapient youth cried out: - 'Are you the Mary that had a little 'lamb?" "No!" was the ready reply, "but your mother had a little jackass!"


Article from Daily Kennebec Journal, February 8, 1871

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House. TUESDAY, Feb. 7. Prayer by Rev. Mr. UPJOHN of Augusta. Papers from the Senate disposed of in concurrence. READ AND ASSIGNED-Resolve in favor of the town of Ft. Kent; an act authorizing C. Wassgatt of Swan Island, to extend his wharf; an act to increase the fees of town clerks; an act concerning the liabilities of railroads for defective crossings. Mr. SANBORN of Kittery, presented a resolve to correct the valuation of York county, and moved its reference to the Committee on Claims. The question of reference was discussed by Messrs. Sanborn, Cousens, Keegan, Bragdon, Heath, Johnson, Carleton, Morse of Buckfield, and others. The matter was referred to the York County Delegation. The report of the Committee on Education, reporting adverse in the matter of text books, came from the Senate, that brauch non-concurring with the House on the acceptance of the report, and recommitting the same with instructions to report a bill. The report was tabled on motion of Mr. CARLETON. On motion of Mr. HASKELL of Portland, ORDERED, That the Committee on Banks and Banking, be instructed to inquire what legislation is necessary, if any, in order to increase the bonds of Treasurers of Savings Banks. On motion of Mr. REED of No. 11, ORDERED, That the Committee on State Lands and State Roads be directed to inquire into the expediency of authorizing the Land Agent to convey certain tracts of land in Oakfield plantation, Aroostook county, for burial grounds. On motion of Mr. MOORE of Buckfield, ORDERED, That the Oxford County Delegation be directed to inquire into the expediency of reducing the State valuation of Buckfield, but not to reduce the county aggregate. On motion of Mr. CARLETON, ORDERED, That the Committee on Banks and Banking be required to inquire into the management of the affairs of the American Bank of Hallowell, by the receivers thereof, and what legislation, if any, is necessary to facilitate the winding up of the affairs of said bank, and which said committee shall be empowered to send for persons and papers relating thereto. On motion of the same member, ORDERED, That the Committee on Legal Reform be required to inquire into the expediency of making the time of service of legal process on corporations the same as on individuals. Mr. THOMPSON, from the Committee on Military Affairs, on order, reported bill an act to authorize the taking by towns eligible sites for the erection of soldier's monuments thereon. Printed under the rule. Mr. CLEAVES, from the Committee on Legal Reform, reported legislation inexpedient on order relating to requiring county bridges and roads to be supported by the several counties instead of towns. Mr. BRAN, from the Committee on Agriculture, reported ought to pass on bill an act to incorporate the East Oxford Agricultural Society. Read twice and tabled on motion of Mr. GREEN of Wilton. Mr. SANBORN, from the Judiciary Committee, reported legislation inexpedient on order relating to partition of real estate. Same member, from the same Committee, reported leave to withdraw on petition for incorporation of the Hibernian Mutual Benevolent Society of Bangor. Mr. WYMAN, from the Committee on Banks and Banking, on petition, reported bill an act


Article from Worcester Daily Spy, March 20, 1871

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Article Text

The Kennebee is now open to navigation. Maine citizens are contributing liberally in aid of the destitute people of France. Frederick Bates of Richmond will be one hundred years old on the 28d instant. The net earnings of the Bangor and Piscataquis railroad for the months of December, January and February, as compared with the net earnings during the corresponding months a year ago, were in the ratio of fifty to eighteen, showing an increa se of about 176 per cent. Hon. Warren Johnson has been appointed state superintendent of common schools, for the term of three years. The appointment was made without any solicitation or effort on the par: of Mr. Johnson, and is a fit recognition of his valuable and efficient services as a public educator. The American Bank, Hallowell, which owed heavy sums at the time of its failure, has so far mustered $27,467 91 assets-say 28 per cent. of its liabilities: The receivers are coming down upon the shareholders, if they can be found, for the deficiency, for Maine has rigid laws regarding personal liabilities. The affairs of the state liquor agency at Portland are about to be investigated by a committee of the executive council. This investigation has been authorized by the governor and council on account of certain damaging reports that have been put in circulation concerning the transactions of the agency in the way of selling impure liquors, etc. The governor and council have held a conference with the trustees of the state insane hospital respecting the erection of the new chapel building, for which an appropriation was made


Article from Daily Kennebec Journal, July 9, 1873

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We learn that the bill in equity of the Receivers of the American Bank, Hallowell, against the stockholders, was argued at the recent law term of the Supreme Judicial Court in this city, on demurrer of some of the defendants. The court has not announced its decisions.


Article from Daily Kennebec Journal, April 20, 1875

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Article Text

American Bank. final dividend of 88 per cent. on outstanding A Receivers, certificates is payable at the office 01 the undersigned in Hallowell. Certificates may be presented for payment by the holder; or if sent by mail or by third parties, must have a receipt indorsed on them in substance as follows:- Received a final dividend of 88 per cent, in full for this certificate," signed by the holder. Bills of the bank are of no value. H. K. BAKER. apr20-t&wtf Hailowell, April 20, 1875.


Article from Daily Kennebec Journal, April 21, 1875

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American Bank. final dividend of 88 per cent. on outstanding A Receivers, certificates is payable at the office of the undersigned in Hallowell. Certificates may be presented for payment by the holder; or if sent by mail or by third parties, must have a receipt indorsed on them in substance as follows:-"Received a final dividend of 88 per cent, in full for this certificate," signed by the holder. Bills of the bank are of no value. II. K. BAKER. apr20-t&wtf Hailowell, April 20. 1875.


Article from The Portland Daily Press, February 24, 1876

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Article Text

BANKING. The following embraces the topics of legislative action relative to savings and other banks. Act revoking all charters granted to savings banks not yet organized or shall not have been organized prior to August 1, 1876. Act authorizing the receivers of the American Bank of Hallowell to pay dividends on lost certificates. For general law for organization of savings banks, see "general laws."


Article from Daily Kennebec Journal, September 25, 1880

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Legal Abbertisements. To the Honorable Justices of the Supreme Judicial Court next to be held at Augusta, in and for the county of Kennebee, on the third Tuesday of October, 1880. American Bank, then doing business at HalThe undersigned respectfully represents that the lowell in said county, in September, 1865, caused the ship Alexandrine to be attached as the property of Henry Cooper, Jr., and others who were then in. debted to the Bank: and about the same time, said Bank ordered your petitioner to cause said ship to be insured for their benefit for the sum of rix thou-and dollars ($6,000) in the Piscataqua Fire and Marine Insurance Company. This was done in the name of your petitioner, and he gave hts individual note for the premium amounting to one hundred and thirtysix dollars ($136.) During the life time of this policy, said Bank failed, and Henry K. Baker, Eliphalet Rowell and Simon Page were appointed receivers of the same, and your petitioner turned over this policy with other papers and assets of the bank to them: and when he was subsequently called upon by the Insurance Company to pay this note, h notified said receivers of all the facts in the case and requested them to take charge of it, and relieve him from all liability on account of the same; but said receivers while not denying that they ought to relieve your petitioner and assume the liability, if any there was, refused to pay said note to said Insurance Company for the reason the company was insolvent at the time they issued the policy. Consequently the note remained unpaid and was sued and the writ was returnable at the Supreme Judicial Court in and for the county of York at Sep. tember term 1868. At that term, S. C. Harley, an attorney at law located at Hailowell, answered to the suit, but before the next term in January following said Harley died, and 1.0 further answer was made to said action, and it was defaulted at the said la-t named term for $160.86 debt and $14.91 costs, and an execution was issued March 2nd 1869, June 1-t 1872 and others in 1873, 187+, 1875, 1877, 1879 and 1880. On the last named execution your petitiouer was arrested and gave a six months bond which is still in force. Your petitioner is informed and believes that said receivers have suffi ient fund. in their hauds, belonging to the An emean Bauk, to pay or compromise this judgment and execution, and fully indemnify and relieve him from any further costs or expenses in connection with the same. Wherefore he respectfully prays that after due notice to said receivers, they may be au horized and ordered to adjust this debt and fully release and discharge your petitioner from the same and for the costs of this proceeding. ALEXANDER H. HOWARD. Augusta, Me., Sept. 7, 1880.


Article from Daily Kennebec Journal, January 27, 1883

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# MAINE LEGISLATURE. # SENATE. (Continued from first page.) Mr. Wentworth of Penobscot: I think the object of this bill is a worthy one. It cannot be controverted that members of this legislature are competent to enact suitable legislation and put it in proper form. That is not the question. If we are to put matters through with a rush, as seems to be the policy of the State, the work before the committees is much more than they can properly attend to. For instance, the Committee on the Judiciary has on its docket nearly 100 matters for consideration. In the rush of work mistakes not infrequently creep in. Now, as to the matter of expense. I judge that the people had rather pay for a correct construction of the law in the first instance than to bear the expense of having the construction put upon them by the court Cheap labor sometimes proves in the end the most expensive. If the amendment offered by the Senator from Waldo puts it beyond the power of the committee to employ competent labor, then I am opposed to it. I hope the bill will pass as reported. Me. McLaughlin of Cumberland: Business should be run on business principles. No large merchant would undertake to attend to all the details of his business--keep his books, write all his letters, etc. I think a draughtsman should be employed to take some of the clerical labor off the Judiciary Committee. Mr. Stubbs of Franklin: The debate has taken a much wider latitude than it should. It seems to me that the discussion should be confined to the amendment offered by Senator Rust, that the salary of the draughtsman shall not exceed $5 a day. The services of such a man would be worth more than that sum, consequently I hope that the amendment will not be adopted. The Senate refused to accept the amendment of the gentleman from Waldo, also to indefinitely postpone. On motion of Mr. Rust of Waldo the yeas and nays were taken on the passage of the bill to be engrossed, resulting in the affirmative as follows: YEA-Messrs Coffin, Connor, Haskell, Heath, Hume, Kimball, McLaughlin, Pennell, Wentworth, Weymouth, Wilson and Young.- 12. NAY-Messrs. Bragdon, Clark, Gushee, Lord, Marble, Maxwell, McAllister, Rust and Taber.-9. READ AND ASSIGNED. An act to fix the time when amendments to the Constitution shall take effect; an act to amend chap. 124 of the private and special laws of 1881 entitled An act to incorporate the Biddeford and Saco Water Co.; an act to enable the receiver of the American Bank of Hallowell to close its concerns; an act to make valid and legal the doings of certain officers of the town of Chesterville; an act to legalize the doings of the town of North Haven; an act additional to chap. 174 of the public laws of 1873 relating to free high schools; resolve in favor of Dresser & Co.; an act to amend chap. 73, sec. 26 of the revised statutes, in relation to the Registry of Deeds. PASSED TO BE ENGROSSED. An act to incorporate the York Harbor and Beach Railroad Company; an act for the promotion of safe and accurate legislation by the employment of a legislative draughtsman; an act to amend sec. 3, chap. 147 of the public laws of 1873, relating to the appointment of port wardens. PASSED TO BE ENACTED. An act to incorporate the East Lamoine Water Co.; an act to amend sec. 5 chap. 11 of the revised statutes relating to the erection of school houses; an act to authorize the city of Augusta to apply a certain bequest and to incorporate the Lithgow Library and Reading Room; an act to change the name of Plantation No. 11, Range 1 in Aroostook county: an act to amend an act to incorporate the city of Auburn; an act to amend the charter of the Freewill Baptist Foreign Mission Society; an act to incorporate the Free Baptist Woman's Missionary Society; an act authorizing the County Commissioners of the county of Hancock to reassess certain taxes. On motion of Mr. Kimball of Sagadahoc, Adjourned. PETITIONS, BILLS, ETC., PRESENTED AND REFERRED. By Mr. Stubbs of Franklin-An act to incorporate the North Franklin Telephone and Telegraph Co.; referred to Committee on Railroads, Telegraphs and Expresses. Also an act additional to chap. 61 of laws of 1874 incorporating the Sandy River Telegraph Co.; referred to Committee on Railroads, Telegraphs and Expresses.


Article from Daily Kennebec Journal, February 1, 1883

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# PASSED TO BE ENACTED. An act to fix the time when amendments to the Constitution shall take effect; an act to amend chap. 124 of the private and special laws of 1881 entitled "an act to incorporate the Biddeford and Saco Water Co."; an act to enable the receiver of the American Bank of Hallowell to close its concerns; an act to make valid and legal the doings of certain officers of the town of Chesterville; an act to legalize the doings of the town of North Haven; an act additional to chap. 174 of the public laws of 1873 relating to free high schools; an act to incorporate the York Harbor and Beach Railroad Co.; an act to amend sec. 3, chap. 147 of the public laws of 1873, relating to the appointment of port wardens. On motion of Mr. Foster of Clinton, Adjourned. # PETITIONS, BILLS, ETC., PRESENTED AND REFERRED. By Mr. Eaton of Camden-Petition of the assessors of the town of Camden for reimbursement of State tax; referred to the Committee on Finance. Also of F. A. Hieskell et als. of Bangor for constitutional prohibitory amendment; also of the members of the Woman's Christian Temperance Union of Bangor calling attention to the illegal liquor traffic in Bangor; referred to the Committee on Temperance. By Mr. Foster of Clinton-Remonstrance of C. A. Priest and 17 others against annexation of a portion of Winslow to the town of Waterville; referred to the Committee on Towns. By Mr. Gilman of Winn-Petition of C.B. Gates et als for an appropriation for road from Sherman to East Brook in Penobscot river; referred to the Committee on State Lands and State Roads. Also petition of S. B. Gates et als. for law for protection of salmon above tide waters, and for protection of ruffled grouse of M.S. Weymouth et als. for change of law in relation to the killing of game; referred to the Committee on Fisheries and Game. By Mr. Talbot of East Machias-Petition of Wm. F. Grant et als. of Machiasport for amendment of the game laws; referred to the Committee on Fisheries and Game. By Mr. Cushman of Ellsworth-Petition of Sewell Tenney et als. of Ellsworth in relation to divorce; referred to the Committee on the Judiciary. By Mr. Hale of Portland-Bill an act to amend chap. 57 of the revised statutes in relation to mills and their repairs; referred to the Committee on the Judiciary: also petition of Israel Washburn Jr., Lewis Pierce and 7 others for printing York Records; referred to the Committee on Legal Affairs; also of C. B. Woodman et als. of Westbrook for a law taxing dogs; referred to the committee on Agriculture. By Mr. Stone of Jay-Petition of O. G. Kyes et als., members of North Jay Grange, for the establishment of a fertilizer control and experiment station; also petition of J. O. Kyes et als. of Jay for tax on dogs; referred to the Committee on Agriculture. By Mr. Houston of Belfast-Remonstrance of Seth L. Milliken and 152 others against abolishing the common council of the city of Belfast; also petition of same for amendment of the city charter; referred to the Committee on Towns. By Mr. Thompson of Brunswick-Petition of T. E. Skofield et als. for incorporation as a telegraph and telephone line; referred to the Committee on Legal Affairs. By Mr. Thatcher of Bangor-Resolve to correct certain clerical errors in the State valuation; referred to the Committee on Finance. By Mr. White of Richmond-Petition of the selectmen of Richmond for reimbursement of excessive State tax of 1880; referred to the Committee on Finance. By Mr. Tracy of Oxford-Petition of assessors of Buckfield for reimbursement of excessive State tax of 1880; referred to the Committee on Finance. By Mr. Fox of Lowell-Petition of assessors of Burlington for reimbursement of excessive State tax of 1880; referred to the committee on Finance. Also of A. C. Page in aid of petition for charter for log driving company on Passadumkeag river; referred to Committee on Interior Waters. By Mr. Aver of Palermo-Petition of A. S. Higgins and 32 others of Thorndike for constitutional prohibitory amendment; referred to the Committee on Temperance. By Mr. Trufant of Harpswell-Petition of E. ฤŒ. Milliken and 20 others for protection of trout in Bryant and Bean's brooks in Scarboro; referred to the Committee on Fisheries and game. By Mr. Chandler of Stow-Petition of Fred S. Furbush for change of name; referred to the Committee on Change of Name. By Mr. Haskell of New Gloucester-Bill an act to define the width of a wharf authorized by chap. 248 of the special laws of 1873, being an act to authorize James M. Jackson to extend a wharf into the tide waters in the town of Harpswell; referred to the Committee on Commerce. Not only a pain-cure is St. Jacobs Oil, but