Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1883-04-12

md population, when not issued in aid of railr roads
provided. that no investment shall be made in the
bunt If the several cities and counties of the states
above named, with the exception of the city OF st
L0u, in the state of Missouri, where the municipal
Indebtedness of such city comfy exceeds five per
cent of its vauaton in the first mortgage bonds OF
any completed railroads of the states above named,
including New jersey, Kansas and Nebraska, and Ill
The first mortgage bonds OF the Central PACING
Union Pacific Northern Pacific and in the rail-
road bonds OF this state IN the stock OF any dVl-
d-nd paving railroad in New England in the stocks
OF any railroad company in this state which Is unin-
numbered by mortgage; in the stock and bonds OF
any other corporations Incorporated under the
authority of this state which earn and are paying
regular dividends of not less than five per cent per
annum: and NAV invest by loan on first mortgages
o real estate situated In this state and state New
Hampshire not exceeding sixty per cent OF its value
and may loan TO any county, city or town thereof;
and on NOES with pledge a collateral OF any OF
tte aforesaid securities, including savings bank
deposit books of any savings bank in the state, and
TIL stock any of said railroad companies not over
twenty-five per cent OF the market value OF such
stock aud may loan to corporations having real es-
tate and doing business in this state and may also
loan pledge or mortgage of such other personal
property in the Judgment or the trustees, II viii
he safe for the interest of the bank TO accept say
inCs bank may also be allowed to invest in the car
trust securities issued by any railroad which Is not
deaHlt on the interest its first mortgage bonds,
and any securities guaranteed by a trust
or railroad equipment company; provided, that the
car trnst company or equipment company has paid
two dividends on its capital stock. All Investments
shall be charged and entered on the books of the
BANK at their cost TO the bank, or ut par when a
premium is paid
l. T.
amended by striking the words seventy five per
cent" in the sixth line and inserting hity per
cent, so that, when amended, said section shall read
as follows:
SECT. L. No savings bauk institution for
ings shall hold by way iRyes ment, or as security
for loans, both more than onc-iifth OF the capital
stock of any corporation nor invest more than ten
per cent of its deposits, and not to exceed sixty
thousand dollars, III the capital stock of any
ration nor have more than fifty per cent of IFS de-
posts in mortgages aud real estate The provisions
of sections ten eleven and twelve shall not apply ~
real estate or other assets acquired by the foreclo
ola mortgage thereon, upon Judgment for
debts or in settlements to secure debts
SECT. 3. Section fifteen of said chapter II hereby
amended by striking out the words ''one per cent
In the fourteenth line and inserting three fourths
of one per cent that said section when ID
ed, shall read as follows:
'sRcT. Is. Every savings bank and Institution
for savings, incorporated under the laws OF this
state, shall, sem-annually, on the last Saturday of
April and October in each year, make return,
signed and sworn by its treasurer of the average
of its deposits for the six months next pre-
ceding each OF said days, deducting an amount
equal to the amount of United States bonds, and
the value of real estate owned by said bank or m
situation. Said return shall be made to the treas.
of the state or before the second Monday 81
inlay and November of each year, and for wifuliy
making false return he shall be liable to pay
due OF not less than five hundred nor more than
i've thousand dollars. The treasurer shai pay 70
the treasurer of the state tax onaccount OF Its de-
posts of three-fourths of one per cent per annum
on the amount of its deposits as in said returns.
One-haf of said tax to be assessed on the average
amount deposit for the six months ending and
including the last Saturday in April, and the other
half on the average deposit for the six months
ending and including the last Saturday in October
One-half OF the sum paid to be appropriated for
the use of schools, as provided in chapter eleven
section ninety-one of the revised statutes, and
half to the use of the state The taxes imposed by
this section shall be paid semi-annually, within ten
days after the first Monday June and December
SECT. 6. Section nineteen of said chapter is here
by amended by striking out the words ''assets" in
the twelfth and fourteenth lines and inserting the
word deposits and by inserting after the word
profits in the fourteenth line the words mot 9TH
erwise divided that said section when amended
shall read follows: