Lincoln National Bank, Bath, ME (Charter 761)

The Sagadahock House just before the Bath City fire of January 28, 1894. The Lincoln National Bank was located in the left, corner. To its right was the Hallett drugstore run by Fred C. Cox and Augustus Harris; the stationery store of John O. Shaw; J. Lufkin Douglas' clothing store, and the Marine National Bank. The Lincoln Bank had been on this site since 1812, and the Marine Bank had its headquarters at the Sagadahock House since its formation in 1864.

Lincoln National Bank, Bath, ME (Chartered 1865 - Liquidated 1910)

Town History

The Lincoln National Bank, corner of Front and Centre Streets. The Lincoln Bank had been on this site since 1812.

Bath is a city in Sagadahoc County, Maine. It is also the county seat of Sagadahoc County. The city is popular with tourists, many drawn by its 19th-century architecture. It is home to the Bath Iron Works and Heritage Days Festival, held annually on the Fourth of July weekend. It is commonly known as "The City of Ships" because of all the sailing ships that were built in the Bath shipyards. Bath is part of the Portland-South Portland-Biddeford metropolitan statistical area. Bath has a 2020 population of 8,766. In 1860 the population was 8,076, peaking in 1920 at 14,731.

Lincoln County, Maine was founded in 1760 by the Massachusetts General Court from a portion of York County, Massachusetts and named after the English city Lincoln, the birthplace of Massachusetts Bay Provincial Governor Thomas Pownall. At its founding, Lincoln County accounted for three-fifths of the state's land, and stretched east to Nova Scotia. Thirteen counties were cut out of this land including Sagadahoc County to the west and a portion of Kennebec County to the north. Sagadahoc County was incorporated in 1854. The name comes from the "Sagadahoc River", an early name for the Kennebec River.

Abenaki Indians called the area Sagadahoc, meaning "mouth of big river". It was a reference to the Kennebec River, which Samuel de Champlain explored in 1605. Popham Colony was established in 1607 downstream, together with Fort St George. The settlement failed due to harsh weather and lack of leadership, but the colonists built the New World's first oceangoing vessel constructed by English shipwrights, the Virginia of Sagadahoc. It provided passage back to England. Most of Bath, Maine, was settled by travelers from Bath, England.

The next settlement at Sagadahoc was about 1660, when the land was taken from an Indian sagamore known as Robinhood. Incorporated as part of Georgetown in 1753, Bath was set off and incorporated as a town on February 17, 1781. It was named by the postmaster, Dummer Sewall, after Bath in Somerset, England. In 1844, a portion of the town was set off to create West Bath. On June 14, 1847, Bath was incorporated as a city, and in 1854 designated county seat. Land was annexed from West Bath in 1855.

Several industries developed in Bath, including lumber, iron, and brass, with trade in ice and coal. The city and surrounding area is renowned for its shipbuilding and, at one point, was home to more than 200 shipbuilding firms. The industry began in 1743, when Jonathan Philbrook and his sons built two vessels. Since that time, roughly 5,000 vessels have been launched from Bath, which became the nation's fifth largest seaport by the mid-19th century. The clipper ships built in Bath sailed to ports around the world. The last commercial enterprise to build wooden ships in the city was the Percy & Small Shipyard, whose schooner Wyoming is considered the largest wooden ship in world history, and which was acquired for preservation in 1975 by the Maine Maritime Museum. The most well-known shipyard is the Bath Iron Works, which was founded in 1884 by Thomas W. Hyde. Hyde became the firm's general manager in 1888. It has built hundreds of wooden and steel vessels, mostly warships for the U.S. Navy. During World War II, Bath Iron Works launched one new ship approximately every 17 days. The shipyard today is a major regional employer, and currently operates as a division of the General Dynamics Corporation.

Bath had six National Banks chartered during the Bank Note Era, and all six of those banks issued National Bank Notes.

Obsolete Title	State Charter	National Bank Title	Federal Charter	Charter #	Fate
The Lincoln Bank	1813	The Lincoln NB	1865	761	1910 merged with First NB
The Sagadahock Bank	1836	The Sagadahock NB	1865	1041	1894 merged with Lincoln NB
The City Bank, Bath	1853	The First NB‡	1863	61	1882 Charter expired, became Charter 2743
N/A	N/A	The First NB‡	1882	2743	1960 merged with First NB of Portland
The Bath Bank	1855	The Bath NB	1864	494	1965 merged with Canal NB of Portland
N/A	N/A	The Marine NB	1865	782	1910 absorbed by Lincoln NB

^‡Bank histories of Charter 61 and 2743 combined on one page.

Bank History

Lincoln Bank, Bath, Maine, obsolete $5 from a Perkins Plate with signatures of G. Richardson, Cashier and Jon. Hyde, President, dated January 1, 1833. Courtesy of Heritage Auctions, www.ha.com

The Lincoln National Bank occupied the corner of Front and Centre Streets, moving here after the 1894 fire into the quarters occupied by the Sagadahock National Bank. View is toward the South. An expanded view of the vault alarm is in the upper right. Courtesy of Google Maps, ca2018

Lincoln National Bank of Bath stock certificate for one share issued to Sarah Watson Fisher on September 1, 1908 with signatures of F.H. Low, Cashier and Geo. P. Davenport, President. The charter date of the Lincoln Bank, June 15, 1813, and Lincoln National Bank, June 3, 1864, are shown. Courtesy of Heritage Auctions, www.ha.com

A 1908 advertisement for the Lincoln National Bank, established 1813.

• Organized December 30, 1864
• Chartered January 27, 1865
• Succeeded Lincoln Bank
• Absorbed 782 April 27, 1910 (Marine National Bank, Bath, ME)
• Liquidated June 10, 1910
• Consolidated with 2743 (First National Bank of, Bath, ME)

On August 4, 1813, at a meeting of the stockholders of the Lincoln Bank at Bath, the following officers were chosen: Hon. Samuel Davis, president; Peleg Tallman, Esq., David Dunlap, Esq., John Richardson, Jerom Loring, Jonathan Hyde, Charles Clapp, directors. Seth Trufant was cashier. Trufant would serve as cashier until at least 1822.

In October 1838, Geo. F. Patten was president of the Lincoln Bank and Green Richardson, cashier. The directors were G.F. Patten, Wm. Richardson, Joshua Page, Asa Palmer, Sam'l Gray, Levi Houghton, and Ammi R. Mitchell.

In June 1841, Mr. Charles Davenport was unanimously chose cashier in place of Green Richardson, Esq., deceased. The deeply-regretted death of Mr. Richardson occurred on May 4th.

In November 1847, officers of the Lincoln Bank, old corporation, were Jon. Hyde, president; Jonathan Hyde, Levi Houghton, Joshua Page, Henry Hyde, directors. officers of the Lincoln Bank, new corporation, were Geo. F. Patten, president; Geo. F. Patten, Wm. M. Rogers, Thos. Harward, Charles Davenport, L.W. Houghton, G.W. Kendall, J.H. McLellan, directors. John Shaw was cashier, bank hours were from 9 to 12 and discount days were Tuesday.

On Tuesday, January 8, 1889, stockholders of the Lincoln National Bank elected the following directors: Charles Davenport, L.W. Houghton, Charles E. Patten, John S. Elliot, and Charles W. Morse.

On January 28, 1894, Bath's fine hotel, the Sagadahock House, in its day one of the best in the state, was destroyed in Bath's biggest fire. Between 8 and 9 o'clock Sunday morning, a fire started in a stable in the rear of the Sagadahock House which stood at Front and Center Streets at the site later occupied by the Sagadahock block. For want of a bucket of water at its discovery, this blaze spread into the worst conflagration in the city's history. The city's water supply had been shut off the day before because of a break in the main line. Mayor John O. Shaw sent telegrams calling for help from Brunswick, Lewiston and Portland Fire Departments. The local steam engines went to the Kennebec River for water causing a delay of over half an hour and by this time the blaze was beyond control. The large four story Sagadahock House became a mass of flames and the fire worked north to Webbers drug store, nearly opposite the head of Broad Street. Also burned out on that side of the street were the Lincoln National Bank, Hallet's drug store, John O. Shaw's book store, J.L. Douglas' clothing store, the Marine National Bank and D.T. Percy's dry goods store and second floor offices. Buildings opposite the Sagadahock House north nearly to Broad Street were consumed or badly damaged. In the center of these was the People's Twenty-Five Cent Savings Bank which was totally consumed while next north of it, the Times building, escaped with just the loss of editorial rooms on the second floor and all of W.S. Shorey's book bindery on the third floor. The guests in the hotel escaped with a portion of their personal effects; from the hotel stable some 20 horses and several carriages were saved. The valuables in the vaults of the Lincoln, Marine and Peoples Savings banks came out uninjured. The loss was estimated at $750,000 with the Sagadahock and Central houses, three banks and a dozen stores gone. The Hyde Light Guards were called out to protect property. A bad chimney was thought to have been the cause of the fire.

In March 1894, the matter of the Lincoln National Bank taking the place of the Sagadahock National Bank was under consideration, but nothing definite would be done until the arrival of Mr. Morse from New York. On March 28, the stockholders met to consider the consolidation with the Lincoln bank. On Wednesday evening, April 11th, stockholders of the Sagadahock National Bank by nearly unanimous vote decided to go into voluntary liquidation for the purpose of consolidating with the Lincoln National Bank. The Sagadahock National Bank entered voluntary liquidation on April 11, 1894. On April 27th, Henry Eames tendered his resignation as cashier of the Sagadahock bank after 41 years.

In May 1894, Fred H. Blake of Worcester, Mass. and the Herring Safe Co. was remodeling the vault of the Sagadahock National Bank which the Lincoln National Bank would use. Mr. Blake owned a 40-foot yacht spending summers cruising along the Maine coast.

On Tuesday, January 11, 1910, at the annual election of the Lincoln, there were no changes. George P. Davenport retained his position as president and F.H. Low was re-elected cashier with F.F. Blaisdell as assistant cashier. The directors were George P. Davenport, John S. Hyde, J.R. Andrews, A.J. Dunton, J.E. Drake, F.H. Low, and E.A. Allan.

On Saturday, April 30, 1910, the surprise announcement of another change in banking in the city of Bath whereby the First National and Lincoln National banks would consolidate. On Wednesday, the directors of the Marine National Bank upon the advice of Oscar L. Telling, chief of the division of reports of the comptroller's office at Washington, decided to consolidate with the Lincoln National Bank and was going through the process of liquidation. A meeting of the directors of the First National was held Friday afternoon and after considerable discussions were in favor of consolidation. The city of Bath had been supporting four national banks, a trust company and two savings institutions. The capitalization of the Marine was $100,000 and that of the First and the Lincoln, $200,000 each. Inspector Telling favored the consolidation of these banks owing to a lack of shipbuilding in the city which had been one of the principal industries to which the banks had loaned their money. The consolidation of the First National and Lincoln National was made for the purpose of creating a large, strong bank with capital of $400,000. The new bank would occupy the quarters owned and occupied by the Lincoln National Bank. The names of the officers and directors of the First National Bank after the consolidation with the Lincoln National were released on May 2d. J.R. Andrews would be president; Oliver Moses and F.H. Lowe, vice presidents; and W.S. Shorey, cashier. The 10 directors would include five from each institution.

On June 10, 1910, stockholders of the Lincoln National Bank voted to confirm the action taken by their directors to combine with the First National Bank on a basis of share for share. The stockholders of the First National Bank voted unanimously in favor of the consolidation, with 1,732 of the 2,000 shares represented.

Official Bank Title

1: The Lincoln National Bank of Bath, ME

Bank Note Types Issued

Original Series $2 bank note with pen signatures of John Shaw, Cashier and James F. Patten, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

Series of 1875 $5 bank note with pen signatures of W.R. Shaw, Cashier and Charles Davenport, President. Courtesy of Heritage Auctions, www.ha.com

1882 Brown Back $5 bank note with pen signatures of F.H. Low, Cashier and Charles Davenport, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

1902 Red Seal $5 bank note with stamped signatures of F.H. Low, Cashier and J.C. Ledyard, President. Courtesy of Heritage Auctions, www.ha.com

1902 Date Back $5 bank note with stamped signatures of F.H. Low, Cashier and George P. Davenport, President. Courtesy of Lyn Knight Auctions, www.lynknight.com

A total of $1,921,290 in National Bank Notes was issued by this bank between 1865 and 1910. This consisted of a total of 232,234 notes (232,234 large size and No small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type	Sheet/Denoms	Serial#s	Sheet Comments
Original Series	3x1-2	1 - 5000
Original Series	4x5	1 - 4525
Original Series	3x10-20	1 - 2400
Original Series	50-100	1 - 617
Series 1875	4x5	1 - 6350
Series 1875	3x10-20	1 - 1862
Series 1875	50-100	1 - 546
1882 Brown Back	4x5	1 - 9750
1882 Brown Back	3x10-20	1 - 9120
1882 Brown Back	50-100	1 - 240
1902 Red Seal	4x5	1 - 6000
1902 Red Seal	3x10-20	1 - 5800
1902 Date Back	4x5	1 - 4442
1902 Date Back	3x10-20	1 - 2108

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1910):

Presidents:

• James Fulton Patten, 1865-1873
• Charles Davenport, 1874-1900
• James Crommett Ledyard, 1901-1906
• Frederic H. Low, 1907-1907
• George Patten Davenport, 1908-1909

Cashiers:

• John Shaw, 1865-1870
• William R. Shaw, 1871-1892
• Frederic H. Low, 1893-1906
• Fred F. Blaisdell, 1907-1907
• Frederic H. Low, 1908-1909

Other Known Bank Note Signers

• No other known bank note signers for this bank

Bank Note History Links

• Lincoln National Bank, Bath, ME History (NB Lookup)
• Maine Bank Note History (BNH Wiki)

Sources

• Bath, ME, on Wikipedia
• Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
• Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
• Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project