Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-03-12
STATE HOUSE.
Bills Of Maine Bank that Never
Existed.
Good Work Of Game Wardens on the
Canadian Border.
A Clock That Is Missed-Chairs Bro.
ken by Weighty Legislators.


board of railroad commissioners, has
| just come into possession of an inter-
csting relic of the wildcat banking days,
two thirds OF Il century ago. 1t is 4
$50 bill, purportins to be issued by the
| oxford bank of Fryeburg, and as no
such bank was ever in existence, it
naturally follows that there is an in
tercsting story connected with this
piece of currency. Recently the Office
of the State bank examiner received
| letter from Charles p. Tucker. IA law
yer of Hudson, Mass, stating that one
of his clients had three $50 bills of the
kind mentioned above, and asking for
information about the bank in question.
, AS Colonel Harrington is IL native of
FrycburK and is noted for being thor
ouchly Informed on all matters of legal
history, he vas first consulted. and de-
clarcd without hesitation that no such
bank had ever existed.
The old reports of the banking de-
partmrnt We're then explored and away
| back in the report for the year 1887 it
Was found that the bank commissioners
| referred to an attempt being made by
parties in the State of New York to put
| in Giro ulation bills purporting to be OH
| the oxford bank of F'ryeburg. Maine.
| Such a bank, the report went on to
state, had been established by an act-of
the Legislature in 1896, but had never
been organized in compliance with tn
provisions of the law, and the bills,
which We're being issued were of
course, worthless and fraudulent. The
commissioners stated that the New
York parties, who were engaged in this
.Win1l", We're being helped by an in
dividual in this State, but they failed
to mention his name. They recon-
mendc.l that the Legislature promptly
annul the charter which had been
| granted.
| A reference to the proceedings Of the
Legislature Of 1896 shows that the
4 chart"r WAS issued to the oxford bank
az Frychurg, as stated above, with the
following men named as incorporators:
Juda Dana, Daniel Clement Edward F.
|IOs%o"d, Henry G. Buswcll, Asa Charles
Robert Bradley. David bradley. John
w. Dana. Philip Eastman, james Os-
born", Timothy {. Ward. Asa TOWle
and Jacob Evans. The bank was to be
capitalized for $4,000 Evidently the
Il matter of the establishment of the
i the Legislature. but the New York par
ties took advantage of the general con-
fusion that prevailed at that time in
banking circles and financial affairs
generally. and issued notes on this
bank, and put them into circulation,
probably clearing a handsome sum for
themselves-by this scheme. The in
cOrporatOrS mentioned above were all
prominent men Of western Maine. one
of them being Il bank commissioner ut
That time. while another was later Il
Governor, and it would be of interest
To know which one of them. as intmat-
ell in the report of the following year.
helped out the New Workers in th.ir.
little scheme.
There is no knowing how many such
bills there were in circulation. or how
extensively the public were defraude,l
thereby. When the facts of the case
were discovered as told above and com
municat"d to Mr.. Tucker, he sent Col
"nel Harrington one of the $50 bills re-
| icrrcd to, us souvenir. 1t is No. 81.
l Of series A, which indicates that at
\ least 81 bills of this large dcnomina =
i ton had been out in circulation, ana
nobody knows how many of smaller
l denominations. The bill is signed by
james J. Fenton. cashier. and T. w
i Appleton. president. who We're pre-
sumably New Workers. The date OF
tn" bill is July 1. 1897. The curious
WaN in which it is wordcd at once at
tracts attention, for instead Of being
4 made out simply ito the bearer as in
AT ordinary bank note. it is made on.
10 j. :. Ward. or bearer" with tie
na'nc being written in ink in blank
SI;'c" left for that purpose. The object
OF this is hard to discover. for the addi-
lions of the words cor bearer of course
makes it Transferable to anybody with
out any endorsement of formality.