City Bank (Portland, ME)

Episode Information

Episode UID
6620377290484
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
662037729 hash
Start Date
April 9, 1840
Location
Portland, Maine (43.661, -70.255)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
efc55cd96d57d58b

Response Measures

None

Description

Legislature accepted surrender of the charter in 1840; multiple later notices list the charter as surrendered.

Events (1)
1. April 9, 1840 Suspension
Cause
Voluntary Liquidation
Cause Details
State legislature passed an act accepting surrender of the bank's charter and provided for directors to collect assets and pay debts; bank to be closed.
Newspaper Excerpt
An Act accepting the surrender of the charter of the City Bank, Portland.
Source
newspapers

Newspaper Articles (6)
1. April 9, 1840 Lincoln Telegraph Bath, ME
Article from Lincoln Telegraph, April 9, 1840

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Article Text

shall have same power to authorize the executor or administrator of such deceased person to make conveyance of such real estate to the executor or administrator of the person so contracted with, which he now has to authorize such conveyance to the person contracted with, himself being alive-And the executor or administrator to whom such conveyance shall be made as aforesaid, shall stand seized and possessed of such real estate, to the same uses and for the same purposes, as he is, of real estate set off to him on Execution. SEC. 2. Be it further enacted, That whenever the Commissioners who have been, or hereafter may be appointed, upon the estate of any person deceased by virtue of an Act entitled An Act to regulate the jurisdiction and proceedings of the Courts of Probate," approved March the twentieth, one thousand eight hundred and twenty-one shall have made their report, and the Judge of Probate, shall have or dered distribution thereon, it shall be discretionary with said Judge, at any time before distribution shall have taken place, upon application made to him by any creditor of such person deceased, on account of any error, or mistake in the Report of said Commissioners, to issue his decree suspending said order of distribution, and recommitting said Report to said Commissioners, for the purpose of correcting such error or mistake. Approved by the Governor, Feb. 24, 1840. A n Act to limit the tenure of Military office. Be it enacted by the Senate and House of Representatives in Legislature assembled, That all Military officers, who have been or hereafter may be commissioned, shall hold their respective offices for a term not longer than seven years from the date of their commission, unless reappointed or reelected. Provided, that in case of vacancy of Major General in any Division, the commissions of the Brigadier Generals in such Division shall not terminate by the lim. itation aforesaid until the office of Major General shall be filled by the Legislature-and the Commander in Chief is hereby authorized to discharge officers who have held or may hereafter hold commissions seven years asaforesaid.And this Act shall take effect from and after its approval by the Governer. Approved by the Governor, Feb. 24, 1840. An Act additional to prevent obstructions to Ferries. Be it enacted by the Senate and House of Representatives in Legislature assembled, That in addition to the several obstructions mentioned in 'an Act to prevent obstructions to ferries, passed February enty-seventh, eighteen hundred and thirty-three, that if any person shall erect any weir for the taking of fish, or any oth. er obstruction in said ferry ways, as mentioned in said Act, the person or persons so offending shall be liable to pay, for each and every day such weir or other obstruction is continued, not less than ten dollars, to be recovered in the same manner, as the before recited Act prescribes. Approved by the Governor, Feb. 26, 1840. An Act to prevent obstructions in Machias river. SECTION 1. be it enacted by the Senate and House of Representatives in Legislature assembled, That if any person or persons shall cast or throw into the Machias River, any slabs, lathings, edgings, or any refuse Lumber of any nature whatsoever, or other materials whereby the navigation of said river may be impeded or injuriously affected, or which shall tend to obstruct the floating or driving of Logs, masts, spars, or other Lumber down said river, either above or below the tide waters of the same, he or they shall forfeit for each offence a sum not exceeding twenty dollars, nor less than five dollars, to any person who may sue for life same, and shall also be liable to pay all damages which any individual may suffer by reason of such obstructions in an action of the case, in any Court competent to try the same. SEC. 2. Be it further enacted, That if the of fence or offences forbidden in the foregoing sec. tion, shall be committed by any sons, may be in the of owner who mill employ person any or Mill peror owners, the said mill owners be liable to the same mill to be shall owner penalties or recovered in the same manner as is herein before provided. Approved by the Governor, March 3, 1840. An Act accepting the surrender of the charter of the City Bank, Portland. SECTION 1. Be it enacted by the Senate and House of Representatives in Legislature assembled, That the charter of the City Bank and same is accepted, and when this act shall shall the SEC. terminate 2. hereby Be take the be, effect. same it further That continue in its corporate for the term of two years from and this Bank during Act shall enacted, capacity the the time said shall take effect, for the sole of and the debts due the corporation, the property and estate collecting conveying purpose thereof. selling remain liable for the from the same, and shall be and of debts due prosecuting shall payment of and defending suits at directors for the closing its and for choosing for concerns. purposes law, it further enacted, That SEC. 3. Be aforesaid, capable Act and all effect and be in force from shall the sixth take and this after day of April, in the year of our said one eight hundred and and shall publish for three in thousand Bank the months, forty, week- Lord, that if ly State paper, and in one or more any be, in the in may be located, that it has surrender the when such Bank charter there stating County surrendered which papers, said its

2. October 14, 1842 The Spirit of the Age Woodstock, VT
Article from The Spirit of the Age, October 14, 1842

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Article Text

MAINE. Agricultural Bank, Brewer in hands of receivers 80 a 90 ct. dis. Bangor Commercial Bank, Bangor charter surrendered 3 4 Bath Bank redeemed t charter expired Castine Bank worthless t Citizen's Bank. Mugusta. (new plate) : charter anulted do Calis Bank 10 a , 10 a City Bank, Portland charter surrendered Damariscotta Bank do worthless do Frankfort Bank, Frankfort do do do Globe Bank, Bangor do Georgia Lumber Co. Portland : do Hallowell and Augusta Kenebeck Bank do Kennebunk Bank do Lafayette Bank, Bangor 3 charter surrrendered 3 4 Mercantile Bank, Bangor Oldtown Bank worthless Fraud do Oxford Bank, Fryburg do Passamaquoddy Bank do People's Bank charter surrendered Stillwater Canal, at Orono do In hands of receivers Saco Bank redeemed by Trustees at Saco 15 a St. Croix, Calis Washington county, Calis worthless charter surrendered Waterville Bank redeemed (closed) 2 a Westbrook Bank, Westbrook Wiscasset Bank worthless NEW HAMPSHIRE. Concord Bank 2 a worthless Hillsborough Bank New Hampshire, Portsmouth, charter redeemed expired worthless Woolfborugh Bank VERMONT. Agricultural Bank, Troy Fraud no such Bank authorised a 80 Bennington Bank, Bennington fraud Comercial Bank of Vermont no such Bank authorised worthless Essex, Guildhall do fraud Green Mountain Bank do Jefferson, County Bank fraud 2a 3 St. Albans Bank MASSACHUSETTS. redeemed Amherst Bank, charter surrendered worthless Berkshire Bank 80 90 Chelsen Bank, Chelsea 75 80 Commonwealth Bank, Boston East Bridgwater Bank redeemed charter surrendered worthless Essex Bank, Salem do Farmers' and Mechanics', 8. Adams do Farmers' Bank, Betchertown do Franklin Bank. Boston do Fulton, or Wimnisimmet Bank, Boston do Hampshire Bank, Northampton do Lathyette Bank, Boston closed Mendon Bank do 2 a Middlesex Bank. Cambridge, redeemed 15 20 Middling Interest Bank, Boston a 90 Nahant Bank. Lynn 75a Neburyport Bank redeemed Norfolk Bank, Roxbury worthless Phenix Bank. Nantucket do Roxbury Bank charter annulled do Sutton Bank Winthrop Bank, gone into Equidation redeemed RHODE ISLAND. worthless Burrillville Bank do fraud Eagle Bank, Newport do Farmers' Bank 75 a 80 Farmers' and Mechanics' Bank , worthless Franklin Bank, Providence fraud closed redeemed Mount Hope Bank e a 10 Pascong Bank CONNECTICUT. I I Bridgeport Manufacturing Co. fraud worthless do N Derby Bank, do e Eagle Bank a 50 Housatonic Railroad Co. . : : NEW YORK. 1 1-8a1-4 New York City r 11-4 OM Safety Fund, good Banks h a 2 Red Back. uncertain do do New 60 65 United States Bank Bills, old and new . 10 a 12 1-2 Novia Scotia Bills 7 9 New Brunswick Bills n It EXCHANGE e Drafts on New York par a 1-10 premium t 1.4 a Albany Philadeiphia par 1-10 dis 1 Baltimore par a 1-10 e 3-4a 2 Norfolk . 13-4 a 2 Bichmond 1 I 1.2a 2 Charlestown 2 a 3 Savannah 4 a 5 Augusta, Ga. a 10 nominal Mobile* e 6 a 7 New Orleans 1 16 a 17 Nashville a 20 St. Louis y N 4 a 5 Cineinnati It 13 a 14 Columbus e Mobile funds have improved 10 per cent. within a few is days. We now cuote them at a 31.

3. January 6, 1843 The Spirit of the Age Woodstock, VT
Article from The Spirit of the Age, January 6, 1843

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MAINE. Agricultural Bank, Brewer in hands of receivers 80 a 90 ct. dis e Bangor Commer lal Bank, Bangor charter surrendered 3 a 4 Bath Bank worthless charter expired Citizen's Bank Augusta. (new plate) charter anulled do Calis Bank 8 10 a 15 City Bank, Portland charter surrendered Damariscotta Bank do worthless do Franktort Bank, Frankfort do do do Globe Bank, Bangor do Georgia Lumber Co. Portland do Hallowell and Augusta Kenebeck Bank do Kennebunk Bank do Lafavette Bank, Bangor charter surrrendered 3 4 3 a 4 Mercantile Bank, Bangor Oldtown Bank worthless Fraud do Oxford Bank, Fryburg do Passunaquoddy Bank charter surrendered do People's Bank Stillwater Canal, at Orono do In hands of receivers Saco Bank redeemed by Trustees at Saco 25 a St. Croix, Calise harter surrendered Washington county, Calis charter surrendered worthless Waterville Bank redeemed (closed) 2n 3 Westbrook Bank, Westbrook Wiscasset Bank worthless NEW HAMPSHIRE. 2 a 3 Concord Bank worthless Hillaborough Bank New Hampshire, Portsmouth, charter redeemed expired worthless Woolfborugh Bank VERMONT. Fraud Agricultural Bank, Troy no such Bank authorised a Bennington Bank, Bennington fraud Comercial Bank of Vermont no such Bank authorised worthless Essex, Guildhall do fraud Green Mountain Bank do Jefferson, County Bank fraud 11a) 12 St. Albans Bank MASSACHUSETTS. redeemed Amherst Bank, charter surrendered worthless Berkshire Bank 80 @ 90 Chelsen Bank, Chelsea 75.80 Commonwealth Bank, Boston East Bridgwater Bank redeemed charter surrendered worthless Essex Bank. Salem do Farmers' and Mechanics', S. Adams do Farmers' Bank, Belchertown do Franklin Bank. Boston do Fulton, or Wimnisimmet Bank, Boston do Hampshire Bank, Northampton do Lafayette Bank, Boston closed redeemed Mendon Bank 2 a Middlesex Bank. Cambridge, redeemed 15 a Middling Interest Bank, Boston 80 90 Nahant Bank, Lynn 67 a 70 Neburyport Bank redeemed Norfolk Bank, Roxbury worthless Phonexix Bank, Nantucket do Roxbury Bank charter annulled do Sutton Bank Winthrop Bank, gone inteliquidation redeemed RHODE ISLAND. worthless Burrillville Bank do fraud Engle Bank, Newport do Farmers' Bank 75 a 80 Farmers' and Mechanics' Bank worthless Franklin Bank, Providence fraud redeemed closed Mount Hope Bank 5 a7 Pascoag Bank CONNECTICUT. worthless Bridgeport Manufacturing Co. fraud do Derby Bank, do Eagle Bank 25 a 30 Housatonic Railroad Co. NEW YORK. 1-8 a 1.4 New York City lall-4 Old Safety Fund, good Banks a 2 New do do Red Back. uncertain 55afo United States Bank Bills, old and new 10 a 12 1-2 Novia Scotia Bill* 7 9 New Brunswick Bills 6 M Upper Canada 4 5 Lower de

4. January 13, 1843 The Spirit of the Age Woodstock, VT
Article from The Spirit of the Age, January 13, 1843

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MAINE. r Agricultural Bank, Brewer I in hands of receivers 80 a 90 Ct. dis $ Bangor Commercial Bank, Bangor charter surrendered 3 4 1 Bath Bank worthless charter expired Citizen's Bank, Augusta, (new plate) e charter anulled do . Calis Bank 7a8 10 a 15 City Bank, Portland charter surrendered Damariscotta Bank do worthless f do Frankfort Bank, Frankfort do . do do Globe Bank, Bangor . do Georgia Lumber Co. Portland do Hallowell and Augusta do Kenebeck Bank do Kennebunk Bank Lafayette Bank, Bangor 3 4 charter surrrendered , 3 4 Mercantile Bank, Bangor : Oldtown Bank worthless Fraud do Oxford Bank, Fryburg do Passamaquoddy Bank e do People's Bank charter surrendered : Stillwater Canal, at Orono do In hands of receivers : Saco Bank redeemed by Trustees at Saco 25 a St. Croix, Calise harter surrendered Washington county, Calis worthless charter surrendered redeemed Waterville Bank (closed) 2 3 Westbrook Bank, Westbrook worthless Wiscasset Bank NEW HAMPSHIRE. 2a 3 Concord Bank worthless Hillsborough Bank New Hampshire, Portsmouth, charter redeemed expired worthless Woolfborugh Bank VERMONT. Fraud Agricultural Bank, Troy no such Bank authorised a Bennington Bank, Bennington fraud Comercial Bank of Vermont no such Bank authorised worthless Essex, Guildhall do fraud Green Mountain Bank do Jefferson, County Bank fraud 11a 12 St. Albans Bank MASSACHUSETTS. redeemed Amherst Bank, charter surrendered worthless Berkshire Bank 80 a 90 Chelsen Bank, Chelsea 75D80 Commonwealth Bank, Boston East Bridgwater Bank redeemed charter surrendered worthless Essex Bank, Salem do Farmers' and Mechanics', S. Adams do Farmers' Bank, Belchertown do Franklin Bank, Boston do Fulton, or Wimnisimmet Bank, Boston do Hampshire Bank, Northampton do Lafayette Bank, Boston closed redeemed Mendon Bank 2 a Middlesex Bank, Cambridge, redeemed 15 a Middling Interest Bank, Boston 80 a 90 Nahant Bank, Lynn 67 a 70 Neburyport Bank redeemed Norfolk Bank, Roxbury worthless Phenix Bank, Nantucket do Roxbury Bank charter annuiled do Sutton Bank redeemed Winthrop Bank, gone intoliquidation RHODE ISLAND. worthless Burrillville Bank do fraud Eagle Bank, Newport do Farmers' Bank 75 a 80 Farmers' and Mechanics' Bank worthless Franklin Bank, Providence fraud redeemed closed Mount Hope Bank 5 7 Pascong Bank CONNECTICUT. worthless Bridgeport Manufacturing Co. fraud do Derby Bank, do Eagle Bank 25 a 30 Housatonic Railroad Co. NEW YORK. 1-Sa1-4 New York City 1a11-4 Old Safety Fund, good Banks do a 2 do New Red Back. uncertain 55 a 60 United States Bank Bills, old and new 10 a 12 1-2 Novia Scotia Bills 7 9 New Brunswick Bills 6 Upper Canada 4 5 Lower do .

5. February 3, 1843 The Spirit of the Age Woodstock, VT
Article from The Spirit of the Age, February 3, 1843

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MAINE. Agricultural Bank, Brewer in hands of receivers 80 a 90 CL. dis Bangor Commer ial Bank, Bangor charter surrendered 3a 4 Bath Bank worthless charter expired Citizen's Bank, Augusta, (new plate) charter anulted do Calis Bank 7a8 10 a 15 City Bank, Portland charter surrendered Damariscotta Bank do worthless do Frankfort Bank, Frankfort do do do Globe Bank, Bangor do Georgia Lumber Co. Portland do Hallowell and Augusta Kenebeck Bank do Kennebank Bank do Lafayette Bank, Bangor 3 4 charter surrrendered 3 a 4 Mercantile Bank, Bangor Oldtown Bank worthless do Fraud Oxford Bank, Fryburg do Passamaquodily Bank do People's Bank charter surrendered Stillwater Canal, at Orono In hands of receivers do Saco Bank redeemed by Trustees at Saco 25 a St. Croix, Calise harter surrendered Washington county, Calis charter surrendered worthless redeemed Waterville Bank (closed) 2 13 Westbrook Bank, Westbrook Hiscasset Bank worthless NEW HAMPSHIRE. Concord Bank 2n 3 worthless Hill-borough Bank New Hampshire, Portsmouth, charter redeemed expired worthlbas Woolfborugh Bank VERMONT. Fraud Agricultural Bank, Troy no such Bank authorised a Bennington Bank, Bennington fraud Comercial Bank of Vermont no such Bank authorised worthless Essex, Goldhall fraud Green Mountain Bank do do Jefferson. County Bank fraud St. Albans Bank 11 a 12 MASSACHUSETTS. redeemed Amherst Bank, charter surrendered Berkshire Bank worthless Chelsea Bank, Chelsea 80 90 Commonwealth Bank, Boston 75 80 East Bridgwater Bank charter surrendered redeemed Essex Bank, Salem worthless Farmers' and Mcclamies', S. Adains do Farmers' Bank, Betchertown do Franklin Bank. Boston do do Falton, or Wimmisimmet Bank, Boston do Humpshire Bank, Northampton do Lafayette Bank, Boston closed Mendon Bank redeemed Middlesex Bank. Cambridge redeemed 2 a 15 a Middling Interest Bank, Boston Nature Bank Lvnn 80 a 90 67 a 70 Neburyport Bank redeemed Nortolk Bank, Rosbury Phienix Bank, Nantucket worthless do Roxbury Bank charter annulled Mutter Bank Md Winthrop Bank, gone intelliguidation redeemed RHODE ISLAND. Burrillville Bank worthless fraud do Dagle Bank, Newport Partners' Bank do Parmers' and Mechanics' Bank 75 a 80 worthless Franklin Bank. Providence fraud closed redeemed Mount Hope Bank 5 7 Pascoug Bank CONNECTICUT. worthless Bridgeport Manufacturing Co. fraud do Derby Bank, do Eagle Bank Housatonic Railroad Co. 23 a 30 NEW YORK. New York City 1-8a1-4 1g 1 1-4 Old Safety Fund, good Banks do New do Red Back. uncertain a 2 55a60 United States Bank Bills, old and new Novem Scotia Bills 10, 12 1-3 New Breaswick Bills 7 9 6 it Upper Canada Lower de 4 5

6. February 17, 1843 The Spirit of the Age Woodstock, VT
Article from The Spirit of the Age, February 17, 1843

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MAINE. Agricultural Bank, Brewer in hands of receivers 80 a 90 ct dis. Bangor Commer ial Bank, Bangor 3 a 4 charter surrendered Bath Bank orthless charter expired Citizen's Bank,Augusta. (new plate) do charter anulted 7a8 Calis Bank 1 10 a 15 City Bank, Portland charter surrendered do Damariscotta Bank worthless do Frankfort Bank, Frankfort do do do Globe Bank, Bangor do Georgia Lumber Co. Portland do Hallowell and Augusta do Kenebeck Bank do Kennebank Bank Lafayette Bank, Bangor 3 4 charter surrrendered 3 a 4 Mercantile Bank, Bangor Oldtown Bank worthless do Fraud Oxford Bank, Fryburg do Passumaquodily Bank do People's Bank charter surrendered Stillwater Canal, at Orono do In hands of receivers Saco Bank redeemed by Trustees at Saco 25 a St. Crois, Calise harter surrendered Washington county, Calls worthless charter surrendered Baterville Bank redeemed (closed) 2 as Westbrook Bank, Westbrook worthless Wiscasset Bank NEW HAMPSHIRE. 2 a 3 Concord Bank worthless Hill-borough Bank New Hampshire, Portsmouth, charter redeemed expired worthless Woolfborugh Bank VERMONT. Fraud Agricultural Bank, Troy no such Bank authorised a Bennington Bank. Bennington fraud Comercial Bank of Vermont no such Bank authorised worthless Essex, Guildhall do fraud Green Mountain Bank do Jefferson, County Bank fraud 11a 12 St. Albans Bank MASSACHUSETTS. redeemed Amherst Bank, charter surrendered worthless Berkshire Bank 80 a 90 Chelsen Bank, Chelsea 75 90 Commonwealth Bank, Boston East Bridgwater Bank redeemed charter surrendered worthless Essex Bank, Sidem do Farmers' and Mechanics', S. Adams do Farmers' Bank, Belchertown do FrankJin Bank. Boston do I Falton, or Wimnisimmet Bank, Boston do ) HampShire Bank, Northumpton do Lafavette Bank, Boston i closed Mendon Bank redeemed 2 a Middlesex Bank. Cambridge. redeemed 15 a Middling Interest Bank, Boston 80 a 90 I Nahant Bank. Lynn 67 a 70 1 Neburyport Bank redeemed Norfolk Bank. Roxbury worthless Phoenix Bank, Nantucket do Roxbury Bank charter annulled do Sutton Bank i Winthrop Bank, gone into liquidation redeemed RHODE ISLAND. worthless Burrillville Bank do fraud Eagle Bank, Newport do Farmers' Bank 75 a 80 Farmers' and Mechanics' Bank worthless Franklin Bank. Providence fraud closed redeemed Mount Hope Bank 5 7 Pascoag Bank ) CONNECTICUT. Bridgeport Manufacturing Co. fraud worthless do Derby Bank, do Eagle Bank 25 a 30 Housatonic Railroad Co. : NEW YORK. , 1-8 a l 4 New York City 1 a l 1 I OM Safety Fund, good Banks a 2 do do New Red Back.uneertain 55a00 United States Bank Bills, old and new 10 a 12 1-2 Novia Scotia Bills 7 9 ) New Brunswick Bills 6 it Upper Canada 4 5 Lower do