Daily Kennebec journal., 1878-12-16

winthrop, slllt23 sll4 81 81 81 6i l2 II loo.
Dion, ~ els ~ IS 80 80 3h4 t3 cts
Buctsport, 1901 6s les,5aO IS 7I6s7 30 els
Lewis on
lnst',u'n, sia.77sA, 75s sIs 42.6n ~ cts.
Ncwpori 1a,s3 30 f6 90
Final dividends to dopositors have heen made in
the Wrih'op Savings Bank and the Lewiston In
stituion for Savings Amount Of exn"use- Al owed
in -cttlemrut of the fairs of the Winthrop Say
ings y nix we- Sli 500 ~ 1his sum inrmd : lie
reward o. $4,000 IN prncu'ing SEQ, 90 90 stolen
from the bank at he 'lme Of IT. io'h"rv N 1875
The sm"unt r,il :" deposition S83 976 80 aud 10
other pet.ot- ga S9as7 Amount col iectrd from
the assets SOS $40 S6 Amount of expenses al
lowed in set'lerucn' ia the Lewiston Institution for
Savipgs wa Sl5. 379.l4. Amount c'leoted from
the asset. 260S 412 IL. Amount paid to deno>itor-
SjS1 1868 IS. and 10 Other PEI sons $40 ,6i5.s5
Amnuut uucsllcd for 81 .462 II. There vii be an
ea'ly .ettloment in the ~olOn Savings Bank and
prnha le fnal settlement in the Buck-port Saw
ipy- Bank, within eighteen months
Thirteen Of the fiil-n'ne sav'res banL- now do
ing husinr->, hrve had their deposit account. re
duced by decree nf cont, under the provision Of
section ihlrtV SIX at he net to rrvi-e and consoh
date Che las l,latlnP 10 Savings Banks, approved
Februs'y s. 1877, 4. follows; Brunswick Savings
Institution, Thora,ion, Orono, Camden, Bsny or,
Andr"sccg giu COUNTY, Pc broke Calais Skowhe.
gan; Btldgtor, Auburn, DEXTER. Frankl n County
II IS erlieved that nltmstelv there will b. no
loss 10 depo-ior- in tne Auhurn and Bangor
banks. that the losses in the other- will range
which vii he about twertv PEI cent. The losses
in these banks with exec p'ion are COM ara,ve-
ly mail, and N all the result of shrinta that
could MT he for sec n, man, of which s,e tempo
raiy The losses H. the savings bank. of hi. State
are LARGELY the result Of shiinkage of assets which
will within reasonable time mainly rec their
value. II the law of our STATE forced the discon-
tinusncc of business aud the clu-in of hank
wheuever the losses rendered ir insoven, il
would he the verv means of forcing the sale of ~
deprecated assets W hout giving time tnt apure
cla'iOn, making permanent what might have been
only temporary loss Notwithstanding the fool
-h panic of he pas based on haze assertions of
des eulng mcr. the savings hank Of ,hi State will
bear exauilr alton. and the fact wi fully n-,ifv
the statement hst these institutions with the lNrge
amount of money heli and invested hv them.with
rare exceptions, have heen well managed ard pru-
IDENTITY conducted through all times. l. !. believed
that may be safely ststd, tina, the 1923 l13 il2.
% which these banks row holl, have suff rcd
much less shi nkage than any ike amount of cap
nal which has been invested hy the hes, business
men Of the countiy, since the u'sti of our
civil war. The result of the law Of 1877 anthoriz-
ing the court TO reduce the deposit acc 'unts of
drpositois. to divide losses pro rata among
them, so far, has been beneficial TO all concerned.
Ae recommends that the law he 20 ampnded a. to
empower the court to reduce the deposit account
of hanks, and thereby avoid the dissolution OF the
bank, if the loss id not arise from dishonesty
the part nt the managers of the hank.
The deposits AID profits Of The ffty nine banks
doing hn.i' ess the At day of November last,
were S23 Ia ll222.
The assets, a compared with 1877, are as fol-
lows;
Assets. 1877. 1873.
Invested 70 United States