The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-02-27

vious to declaring dividend, not subject to be di-
vided, declare dividends not to exceed two and
half per centum, semi.annually except as hereinaf
their bylaws, among depOsitOrs of three months
standing at least, before dividend day The corpo-
ration may by their bylaws include deposits of less
standing The reserve fund shall be kept constantly
hand to against losses and contingencies,
until the said reserved fund amounts to five per
centum Of their assets All losses shall be passed to
the debit OF said account. And when said reserved
fund amounts to five per centum the assets of any
bank, all net profits thereafter made by said banks
shall be divided every three years ratably among
the depositors of one, two and three full years stand
ing, as extra dividends. No dividends interest
shall be declared, credited or paid except by the
authority of vote of the board of trustees duly
tered upon their records, whereOn sl. be recorded
the yeas and nays upon such vote Trustees of saw
ings banks and savings institutions are prohibited
from making any semi-annual dividend of rate per
centum which will make the aggregate amount of
said dividend greater than the actual earning of the
bank or institution ON hand.
SECT 20. No deposit shall be received under any
agreement to pay any specified sum of interest for
its use, other than regular semi.annual and extra
SECT. 81. No savings bank shall be required or
obliged to pay any depositor five hundred dollars
ceeding five hundred dollars after sixty days notice
SECT: o.. No treasurer of any savings bank, the
deposits of which exceed one hundred and fifty
stock bank and if the treasurer of savings bank,
having deposits not exceeding hundred and fifty
bank not more than one trustee of the savings bank
shall be director, nor more than two trustees shall
be stockholders in the national or stock bank, so
connected Herewith. All coin, bills notes, bonds,
securities and evidences of debt comprising the
sets Of said savings bank connected with national
stock bank shall be kept separate and apart from
the assets property such national stock bank
and shall also be kept separate and apart from the
assets property Of any other bank, banker, cor
SECT. %. All securities owned or held by savings
banks shall be kept within this state and the place
ensurng the greatest possible security for their safe
keeping and shall be subject to the approval of the
bank examiner.
SECT. "a. The treasurer Of every savings bank
shall on Saturday of each ard every. week, make
and declare trial balance, which shall be recorded
in book kept for that purpose, and said book shall
corporators and ex aminer of banks.
Sect. 25. 1t shall be the duty of treasurers of
to return to the Of Cities towns and plan
tations in this state, where persons reside who own
bank stock which is pledged or transferred to said
persons pedgng or transferring such stock and the
amount of the same and stock pledged or trans
ferred by persons residing out of the state shall be
returned by the treasurers in the same manner to the
assessors Of the cities towns, in which the bank
whose stock is so pledged transferred is located
For the purposes of taxation bank stock pledged
or transferred as collateral security for loans shall
be deemed the property ofthe persons SO pedging
SECT. 26. When the person to whom a book Of
deposit issued shall notify in writing the treas
of the bank issuing the same that such book is
lost, and that such person desires to have duplicate
book OF deposit issued to him. said treasurer shall
give public notice of such application by publishing
at the expense of such applicant, advertisement
for three weeks successfully, in some newspaper
published in the town in which said bank is located
or if none is published in said town, then in one
published in the county, or, if none is published
in the county, then in the state paper. If such
missing deposit book shall not have been pre-
scented to the treasurer Of said bank within six
months after the last advertisement, then said treas
urer shall issue duplicate book Of deposit to the