The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1875-11-13
From the Kennebec Journal
The Winthrop Bank Robbery.
A Little Light Upon the Subject.

READTIELD, Nov IL, 1875.
Mr.. EDITOR: Some of the accounts publish
ed 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 impress
SION 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 sub.
iect, could honestly have intended to give such
an impression, because such is not the fact
With your permission, will give a brief. state
ment of the proceedings in the case, and what
has been done by those officially charged with
the settlement of the banks affairs:
The robbery was July 23d, 1875. On the 9th
day of August following, the trustees of the
bank filed bill in equity in theS. j. Coult,
representing its condition, praying for the Sc
questration of lis property, the appointment of
a receiver, and further action as is provided by
the statute. Upon due notice a hearing was
had Sep ember 9th, an order of sequestration
passed, and receiver and commissioners APP
pointed. Prior to this time, the trustees had
been making dillgent efforts to secure the rob-
bers 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 De made available to the depositors;
and that was by offering a reward for its 1e-
turn. If this could be done, they had strong
hopes that the whole, or part of the property
could be secured
Under this statement of facts, the receiv II
petitioned the court for instruction and direc-
ton as to the proper action to be taken in the
premises, and on the 18th day of October an
order was passed, authorizing him to offer o
reward not exceeding $4,000, for the recovery
and return in good condition Of all the stolen
properly belonging to the bank On the 21st
of October this re award was offered, and on the
9TH of the present month it was paid to Col.
G. A. Wing of Winthrop. on receiving from
him all the bonds and securities stolen from
aud 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 $o, lOO.
The order Of the court, under which tue re
ward was authorized, was not Silent on the
question OF compromise with the robbers, but
in most explicit terms forbade ANYTHING to BIZ
said or done, in any way sh Gliding them OF
their plIces, before after the fact, from
| The prosecution and punishment their crimes
| deserve. And IN the offer OF reward, this order
| was referred to, aud the provisions made a
| part of its terms aud conditions. AS matter OF
| fact The person who restored the property did
| not ask any protection for the guilty parties,
aud no act was done or assurance gIveu iu con-
| nectlon with Its recovery aud return, that was
| not strictly in accordance both with the letter
| and spirit 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 aud daring robbery Wha
has been done has b en- entirely in the interest,"
| of the depositors, and they NAV we'll deem
| themselves fortunate 10 the result OF the efforts
| made. Their expectations as TO dividends
however, must be moderated by the fact tina
the present market value Of the securities re