Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-07-24
Savings Banks.
THE RESULT OF THE BANK ExAaISER's Sc
m-ANSuAL EXAMINATION.

The Bank Examiner has ju completed his
first semi-annual examination of the savings
banks of this State and reports them all in ex-
cellent condition. This change from the old
system Of annual examinations was provided
BY the Legislature Of last winter and the law
drawn in accordance with the recommended
tons Of the Bank Examiner. The next ex-
animation will be commenced in August and
completed as soon as circumstances will per-
nit The published statements of the exam
ination Just completed gave the investments
of the different banks in detail, but the next
ones will differ from these materially Dur
ing the examination Mr.. Richards will give
special attention to the method of bOOkkeep-
ing pursued by the banks and also carefully
examine the trial balance Of the '.individ-
ual ledger" Some few of the banks
have not raade trial balance of
their individual accounts for years, and
without this examination by the Bank Ex
aminer or the Trustees is of comparatively
| slight value. The assets may be counted,
but if there il no other evidence of the
amount due depositors than the account of
deposits on the general ledger larger amount
has to be taken for granted at every examina-
ton The amendments of last winter are
calculated to remove this uncertainty, and
hereafter the Treasurer of each bank will
annually balance each depostors account and
keep this balance in separate book. When
so arranged it will be an easy matter to test
the reliability of the balance sheet and prove
| it to be correct or otherwise.
| Careful tabulations hsve been made of the
assets and liabilities of the banks, and an
agreeable condition Of the savings banks has
been developed The total deposits of the
| fittv-four banks have increased from 800 SOB
$50 II to $50, AZ, 703 -. but while this is
the aggregate, several Of the banks have suf-
/ fered a decrease as follows Augusta, So
367 49, Bridgt0n, 81 ,260 81; Dexter 81
37l.40; kennebee, $40, 23s A.; Lubec, S47O.-
45 Peoples Twentv-Cent Bath, S97 ,30S 60 ::
South Berwick, S7l47l; Wiscasset, 1852, AZ.
The reserved fund of the banks has increased
from sos 1913 10 to 81 ,00l ,462.3 80. The total
resources of the banks are invested in part
follows United States bonds, 81 800 ,313 81.
decrease of S677, 7si 46; State of Name
bonds, $50 so, decrease of S2365; railroad
bonds, s., 857, 1876, an increase of $780,
s97 49, bank stock, 81 ,4S9,45l SO, an in
crease of ISL, IA; loans on mortgages of real
estate, s., l57. 09o.29, a decrease of S23.-
274.21; loans on collaterals, SO, l42, POI 80 :;
| loans to municipalities and other corpora
tons, S307 ,4%5.05; loans on names, $40, 565
9l surplus above liabilities, IS 99l .232 %
The real estate owned amounts 10 81 ,205. S73.-
IS and the cash on hand to 81, 232, l2202.
Thus far this year no losses have been
sustained by any of the banks, except the
loss realized by the Peoples Twenty five
cent Bank of Bath through the failure of
the Pacific National Bank of Boston The
deposit there was S42 900, of which S2I00
has been paid by the recent per cent. divi-
dend divided among the creditors, and the
whole loss will probably amount to S35, 900.
short time since this savings bank obtain
ed an order of the court scaling down its de-
posts to so cents on the dollar, on the re-
cOmmendation of the bank examiner, that
there might be some inducement for deposit
tors to allow their deposits to remain in the
bank instead of drawing them out as was
attempted. The bank at this very time was
really good for SO cents on dollar The
condition of the other savings banks is such,
| As q general thing, that they can not only pay
their liabilities in full, but their assets are of
such character as to be easily converted in
to cash, and by the end of sixty DAYS every
depostors account could be settled, while
quite large proportion could pay u per
cent premium in addition.
BY the act of last winter the character of
the investments allowed the savings banks
was considerably broadened, and accordingly
quite a number of the banks have taken the
opportunity to invest in the new class of
curities. Great care, however. appears to
have been exercised in making these invest
ments rs heretofore, and the amount of nom
interest pay ing investments held by the sever
al banks is as follows: Androscoggin county,
5000; Bangor, Sl3 600; Bath, Sis, 500; Bux-
ton and Hollis, $1,000; Calais, $1,000; Cor
ham, $1,000; kennebec. Sl4 900; Mechanics,
Auburn, SIS, 900; Norway, $1,000; Portland,
$4,000 Searsport, Sl0,475; Skowhegan,
$1,000; Thomastou, $1,000; Pacific National
Bank stock; Waterville, S2l 900; York
county. SIC, 00o-total, Sli0,915.