The Portland daily press., 1876-12-16
Total. .......... $32, OSs, 314 % 1921, sls 1854


OF the suspended banks, the assets of the
Winthrop, including the recovered bonds (this
bank having been robbed). were found to be
$118 22283. The claims allowed against the
bank, except those of depostors, have been
fully paid A dividend of 40 per cent. has also
been paid to depostors, and the further per-
centage to be paid them will depend upon the
result of pending little alton. Should it be fav-
orabe, another dividend of 80 per cent. will be
paid Bonds amounting to about $1,000 were
pledged to the bank as collateral for money
loaned. These were stolen. Of these, $500
were recovered and have been returned to the
owners, on payment of their notes. The bal.
snce, which was U. S. Bonds, has not been re
covered. Parties who pledged them having re-
fused to make payment of their notes unless the
bonds were returned or paid for, the notes have
been put in suit.
The total assets,of; the Scion bank were S37,-
62S.40. Two dividends of go and 25 per cent.
respectively, have been paid to depositors,
final dividend and settlement of the affairs of
this bank will be reached at an early date.
The assets that came into the hands of the
receiver Of the Bucksport savings bank were
$166, 556.13. The commissioners reported the
claims against the bank to be $163. sos 81. A
dividend Of 40 per cent. to depositors was
authorized by the court, payable in November,
amounting to $50, 409.54, which, added to other
bills, amounted in the aggregate to $65, 1854
Nearly three-fourths of the dividend authorized
udS dlIeduy De6u palu 10 L06 QopOSlLOTS.
The receiver of the Lewiston bank has re-
ceived from assets sold and collected, 1907 49,.
Sc; amount Of assets undisposed of, $4S7 800
The books, on examination in April last show
ed liabilities as follows: Due to depositors,
$753,672 80; bills payable, $4,000; profit and
be made till the January term of the Supreme
Judicial Court in Androscoggin county, at
which time it is believed that dividend Of 80
per cent. will be ordered.
DEPOSITS AND DEPosIToRs.
The deposits and profits of the sixty banks
now doing business on the 9th day of Novem-
Der last were 1927 1913, 7647 70; last year $32,0S3
deposits of the banks during the year ending
Nov. 6, 1876, of $4,264 ,5495S, including ST.
1868 95 deposits of the three banks that have
been placed in the hands of receivers. The de.
crease of depositors for the same period is TO-
7O5; the whole number is 80, 621. The average
deposits OF the past year is due in part to the
depressed condition of business, the unusual
withdrawal from actual necessity by the labor
ing classes, and largely 10 consequence of
runs upon the larger banks, because two Or
three of the weaker ones went to the wall.
Of the city banks, three suspended payment
during the year. viz: The Thomaston, in De-
cember or January, the Waterville and Bruins
wick in May. These banks, owing 20 the de-
probation of some of their investments were
their deposito1s, suspended payment. The
Waterville savings bank has placed itself in
sound condition, and is now receiving deposits
and transacting business with restored conf
dence. This was effected by an agreement en-
tered into by its depositors, to reduce the dc
post account of each depositor, so as to divide
its losses upon investments equltably among
them. The Thomaston and Brunswick savings
banks are endeavoring to effect like result,
but as yet without success Thus there are left
out of the sixty-four banks fifty six, which are
recommended by the Examiner as worthy of
public confidence, having sufficient assets to
pay their liabilities. The four named which
are reported as not having sufficient available
assets to pay their liabilities are the Thomas
ton, which is about 20 per cent. insolvent; the
Brunswick, about II per cent: the Camden,
about per cent; and the Orono about per
cent.
The total number Of depositors is 9O,62l, "a,
628 of whom hold deposits. whose balance is
$500 or less amounting to $S,4lS, S51: As, an av-
erage to each of $112.S6; 1899 whose balance is
over $500 and not exceeding $1,000, amounting
to Sc, 1913 80291 an average to each of $40. 81
6914 whose balance is over $1,000 and not ex-
ceeding $4,000, amounting to $10,975, 022. an av-
erage to each of $158736; 1877 whose balance is
over $4,000, amounting to 81 ,008 ,494. SO, an av-
erage to each of S736127. This statement in
dictates that little over hve.ninths of the
whole deposits stand to the credit of depostors
holding small balances-comprising 83, 527 de-
post accounts, while those holding balances
above $1,000 comprise only 1904 deposit &C.
counts.
DIVIDENDS.
Three of the sixty banks have not declared
dividends the past year. Fifty-seven have de-
clared and paid dividends at the following
rates, viz: 81, three per cent semi-annually
8, three per cent. and two and one-haf per
cent. semi-annually; 1, three per cent. and two
and three, fourths per cent. semi-annually; Z,
two and one-half per cent. semi-annually; 1,
two per cent. and two and one-half per cent.
semi-annually; 2, three per cent, each passing
one dividend. OF the 81 banks that paid divi-
dends of per cent. semi-annually, "a were
banks having deposits less than 100000 The
institutions have generally the past year con.
fined their dividends to the earned profits of
the preceding six months, after deducting taxes
and expenses. In doing this they have been
unable to pass but very small per cent to a
reserved fund, and in many cases nothing
LEGIsLATIoN RECOMMENDED.
The Examiner recommends a bill which is to
be acted on in the Legislature, containing the
following provisions
The amount to be received from any one depositor
upon which dividend is to be made is restricted to
fixed at one-half of per cent. per annum trus-
tees of each bank. once in six months are to set
apart from its earnings SUN equal to one fourth of
one per cent. the whole amount of deposits tor
It's assets; copy of the statement in DETAIL of the
condition of each bank, as made by the Examiner at
his annual examination, is to be published by each
bank Immediately alter such examination. 1t Is
made imperative upon the Bank Examiner, upon the
insolvency OF bank to apply to the court for
junction subject only to the action OF the trustees
who are authorized whenever the assets OF any bank
shall be reduced in value below the amount of depOs-