The Portland daily press., 1883-07-23
SAVINGS BANKS.
The Result of the Bank Examiners Sc
mi-Annual Examination.

The Bank Examiner has just 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 recommends
tions OF the Bank Examiner. The next exam
ination will be commenced in August and
completed as soon as circumstances will per-
NIT. The published statements OF the examin-
alton Just completed gave the investments Of
the different banks in detail, but the next ones
will differ from these materially. Daring the
examination Mr.. Richards will give special at
tention to the method Of bookkeeping pursued
by the banks aud also carefully examine the
trial balance of the individual ledger" Some
few OF the banks have not made trial balance
OF their individual accounts for years, and
without this an examination by the Bank Ex-
aminer or the Trustees is OF comparatively
slight value The assets may be counted, but
If there is no other evidence of the amount due
depositors than the account of deposits on the
general ledger large amount has to be taken
for granted at every examination. The
amendments OF last winter are calculated to
remove this uncertainty, and hereafter the
Treasurer of each bank will annually balance
each depositor's 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 9TH
erwise.
Careful tabulations have been made of the
assets and liabilities of the banks, and an
agreeable condition of the sovings banks has
been developed. The total deposits of the
fifty-four banks have increased from SIS, $685.
S89.71 to $50, ,147 ,703.7S, but while this is the
aggregate several of the banks have suffered a
decrease as follows: Augusta S6,2S7. 49, Bridg
ton, S4l ,26O.51; Dexter, $2,371 40; Kennebec,
S10,23S.44; Lubec, $470,45; Peoples Twenty
Cent Bath, $97 1903 69 South Berwick,
SIl4n; Wiscassst, 1862 AZ. The
from 1858, ,S93.l9 to $1,Co1, ,462.39 The
total resources Of the banks are invested in
part as follows: United States bonds, 1862
373.37, decrease of S677 .7S4 46; State OF Maine
bonds, $56,510, a decrease of S23S5; railroad
bonds, 1857 437 SO, an increase of $l66 S97 43;
bank stock, 81, ass, 1918, in increase of $751;
IA; loans on mortgages of real estate, $5,157,-
09S.2 20, decrease of $23, ,274.27 loans on colat-
erals $3, 142, ,29l.98 loans to municipalities and
other corporations, $307 ABS 05; loans on names,
$40, 800 81; surplus above liabilities, S3,991,-
232.22. The real estate owned amounts to ST.
205, .48 and the cash or hand to $1,232, ,122.-
OF.
Thus far this year no losses have been sus-
tanned by any of the banks except the loss re-
allied by the Peoples Twenty-Five Cent Bank
of Bath through the failure Of the Pacific Ma
tional Bank of Boston. The deposit there was
$40, coo, of which $210o has been paid by the
recent 5 per cent. dividend divided
among the creditors, and the whole
loss will probably amount to $35 Geo.
A short time since this savings bank obtained
an order of the court scaling down its deposits
to so cents on the dollar, on the recommends
tion of the bank examiner, that there might be
some inducement for depositors to allow their
deposits to remains 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 a general thing, that
they can not only pay their liabilities in full,
but their assets are of such a character as to be
easily converted into cash, aud by the end of
sixty days every depositor's account could be
settled while quite large proportion could
pay a 15 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 oppor-
tunity to invest in the new class of securities.
Great care, however, appears to Rave been
exercised in making these investments as
heretofore, and the amonnt of non-interest
paying investments held by the several banks
is as follows: Androscoggin county, $1,000;
Bangor, $13C00; Bath, SIS, 500; Buxton and
Hollis, $4,000; Calais, S30C9 Gorham, $1,000;
Kennebec, $14,0C0: Mechanics, Auburn, $15,-
600. Norway $20c0; Portland, S15,Cco; Sears
port, $10,475; Skowhegan, $4,000; Thomaston,
$4,000 (Pacific National Bank stock; Water
vile, S2l, COO; York county, $10,0C0-total
S140 o75