Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1892-03-05
SAFETY DEPOSIT.
Organization Of CusAnt Safety Deposit
and Trust Go. Perfected.
Arrangements for the Finest Plant In
the state Have been Made.

No other city Of the population Of Maine
can show 30 many ane banks as the city Of
Augusta. The Cushnoc Safety Deposit and
Trust Company. the organization Of which
WAS perfected yesterday, are however. m,k-
ing arrangements for the dness plant In the
State Of Maine.
At the meeting yesterday which was cor
tinued over from Thursday, the org.niz,-
ton of this company WAS perfected as fo'-
lows; Hon, j. Manchester Haynes, presi-
dent; Thos. j. Lynch ESQ, treasurer; j
Henry Starsis, secretary aud on the board
of trustees are the following Augusta ger
tlemsn. j, Manchester Haynes, Ira II
Randall, ]. Il. Msnley, Otrin Williamson,
w. H Gsnnett. Geo. A. Cony, W. II
Libby. T. J. Lynch, and l.. d. Merchant
of Hsllowen.
Conuac.s have slresdy been made for
the safe deposit and storage vaults which
are to be built by Geo l. Damon Of BN-
tor. These vi 4 consist Of = ssfe deposit
vault, storage vault for furs, valuable gAI-
ments etc, vault for silver and
also vault for the storage OF
| trunks. These vaults will be % feet square
and will have 800 boxes to start with. They
| will be as complete and secure as any in
the large cities and will be in the centre Of
the plant handsomely tiled on the outside
and SO arranged ths! one can see beneath
and all around them.
The plant will occupy the entire space
now in the two stores At the south end OF
the Opera House blcck and will have
front OF AZ feet and rear of 81 feet and
depth Of about 20 feet. The whole will b.
| elegantly fitted up in every detail. The
offices and reception rooms will be arranged
around the vaults which are to be
the centre. Ali ,he windows and
entrances will be strongly gusrded
ard every hour Of nigh. and day
man will be on guard noting the time of
coming ard departure of every individual
One room will be fitted for the trustees, ,oDe
reception room for gentlemen and the north
entrance will open into a ladies' reception
room. There will also be coupon room,
desks for the examination Of papers, etc.
Some Of the vaults are fitted up with
small safes. which are rented for from
$1,000 to $4,000 year. The locks to
these safes are all different, and are
changed with every change of renter. Each
renter holds the only keys to his safe
Some of them have combination locks, A
reference is required of every applicant
for safe not personally known to the Off
GERS, and great precautions sre taken to
insure the Identification of the renters.
Gold or silver plate, or other yaluables,
in sealed packages, are received for safe
keeping, And receipts given therefor.
A vault is set apart for the reception Of
bonds, deeds, and other valuable papers.
The company gives certificates Of receipts
for these according to schedules attached,
ard, when desired, will collect and remit
interest on them,
Such deposits are sometimes made as
security for the fulfiment Of contracts, OF
to meet payments under contracts, also for
the indem nifcstioD of sureiles upon bonds.
They will be found convenient, too, for
persons having securities which they wish
to put in a safe place, yet who In view OF
the small amounts or their intrequent visits
to the c,ty, or other causes, do not deFire TO
rent safes.
There is now but one safety deposit con-
psny similar to the one just formed here
in the State, aud that is at Portland.
The purposes Of the institution are well
known to some but perhsps not to people
in general. almost all classes of people
will desire 10 avail tht IN selves Of the fscil
iiies we shall offer" said one of the chief
promoters yesterday. You readily see
that there are many capitalists whose secu-
rites are of nature requiring the safest
possible depository. Very few merchants
and business men have any place that will
compare with ours for the keeping of ps-
pers, etc., the loss of which may mean
ruin to them. Lawyers and other proies-
sionsl men, too, have many papers, the
| safety of which is Of vital importance
Then there are architects, surveyors, eDgin-
eere, drsughismen, holders of real estate
who will be our patrons.
The number Of ladies taking care Of
their own property is continually incress
ipg. They have usually no convenient
place for the transaction Of business, and
to them this institution Offers the advantages
Of = place of absolute security for their
| papers, and convenient business room,
| ftted up for their exclusive use.
Arrangements have been made to meet
the wants Of Banks, Savings Banks, In
su,auce Companies, and similar Institutions
which desire 10 reduce their risks. by plac-
ing portion of their capital and invest
ments where they shall always be secure
| One vault is to be flied up for the exclu-
sive use of such corporations, WITH ample
| committee rooms adjoining.
!
ing pl.te, jsvelry, medals, heirlooms.
works of art. or similar property, valuable
| for its Intrinsic worth or its associations
| should place them in the compsny's vaults
Especially should this be done by those
about TO close their houses and Off -es foi
Temp 1rary absence.
| You are aware Of course that the loss Of
of many securities is irrePsrsble, as foI
instance are the coupon bonds Of the Unite
States Of the several states, counties anc
towns and Of corporations which II lost OIL
destroyed csnno, bs replaced. The loser
has no recourse sgainst the party issuing
them, any more than for loss back bile
II stolen they may be put upon the market
ana the Law will protect the Innocent holder
in his possession.
Banks d sciaim ali responsibility for th'
safe keeping of such deposit,. The lss
does not permit it. 10 almost ell the re-
&C mt bank robberies the heavy losses hsv'
fallen upon theie special deposi:ors A.
ordinary trunk OF receptacle IS sl-svs i;
danger Of being burned or robbed. No ir
sursnce can be had UPON moley or vaiI
able papers, AID unless by specisi contrac
neither on plate, jsselry, or works Of Art
A safe 10 the house is of doubtful pfotec
tion and attracts professional burglars
Then . mans place Of basines s. 10 no plac
for vslu.bles. Few fire proof safes ~
=, FIRE proaf and no 'oussl,r proof safes ar
burglar proof uLlsss g guard stands owe
them"
lii expected that the plans will soon b
: perfected as all the arrangements are beio