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

thereafter made by said banks, shall be divided
cry three years ratably among the depositors
two and three full years standing, az extra divi-
dends. No dividends or interest snail be declared,
credited or paid. except by the authority of vote
of the board Of trustees, duly entered upon their
records, wherein hall be recorded the yeas and
nays upon such vote.
Trustees of savings banks and savings institutions
prohibited from making any semi.annual divi-
dend of rate per cent which will make the aggre-
gate amount OF said dividend greater than the &C
tual earnings of the bank or institution on hand.
SEcT. T. Section twenty -four Ct said chapter is
hereby amended by inserting after the word ''pur'
pose In the fourth line, the following words and
shall also at least once in each year cause TO be en-
tered on book for the purpose, the net sum Of
each individual deposit at a fixed date, and ascer
tain the aggregate of all such deposits, and whether
1t agrees with the other books of said bank that
when amended, said section shall read as follows:
SECT. "A. The treasurer of every savings bank
shall, Saturday of each and every week, make
and declare trial balance, which shall he recorded
In book kept for that purpose; and shall also, at
least once in each year, cause 10 be entered on a
book for the purpose the net sum of each individu
nj deposit nj fixed date and ascertain the aggre-
gate Of all such deposits, and whether il agrees with
the other books Of said bank and said books shall
he open ut all times for the Inspection of the trus
tees corporators and examiner of banks
SECT. 4. Section thirty-three of said chapter il
hereby amended by striking out the word "once,
in the fifth line. and inserting the word twice 50
that aid section, when amended shall read as fol
lows:
SECT 50. Savings institutions and trust and loan
associations shall be under he charge of the bank
examiner for the purposes of examination. He shall
visit every savings bank, institution for savings and
trust and loan association. incorporated by au-
thority Of this state, twice i'll every year, and as
much oftener a. he may deem expedient At such
visits he shall have free access to the vaults books
and papers, ana shall thoroughly inspect and exam
inc all the air4 OF each of said corporations, and
make such inquiries as may be necessary to ascer-
tain its condition. ability to fulfill llts engagements
and whather IL has complied with the provisions OF
law. lie shall preserve in permanent form. n full
record OF his proceedings including statement OF
fffn,. IF nh ala ratio INV
OF which statement shall be published by such corr
poratiOn Immediately after the examination OF the
same, in newspaper in the p lace where such cor
pOration il established, or ii there be newspaper
in such place, then in newspaper published in the
nearest place thereto
SECT. =. Section thIrty-six of said chapter,
ms amended by chapter one hundred and ninety,
laws OF eighteen hundred and eighty. Is hereby
amended so that said section, when amended, shall
read a. follows
Sect. So whenever any savings bank Institution
for savings or trust and loan association shall be
solvent by reason of loss on, by depreciation in
the value Of any of its assets without the iaut OF
the trustees thereof the supreme judicial court, in
term time any justice thereof, IN vacation shall,
petition, in writing of majority of the trustees,
and tile bank examiner setting forth sh facts, ap
point a time for the examination of the affairs of
such corporation and cause notice thereof to be
given 10 all parties interested, in such manner as
may be prescribed; and, fupon an exam lnation OF
its assets and liabilities and from other evidence he
shall be satisfied OF the facts set forth i'll said petit
ton and that the corporation has not exceeded ITS
mowers nor failed to comply with any of the rules,
restrictions and conditions provided by law, he
If he shall deem 1t for the interest OF the depositors
and the public by proper decree, reduce the deposit
acrount Of each depositor, to divide such loss
pro rata among the depositors, thereby rendering
the corporation solvent so that its further proceed
inps would not be hazardous to the pubic or those
having or placing funds in its custody and the de-
positors shall not be authorized to draw from such
Corporation a larger sum than thus iixed ny she
court except rs hereinafter provided; providsd
howeyer that 1t shall be the duty of the treasurer q
such corporation, keep an accurate account 0, a.
sums received for such assets Of the corporation ne
by ii ut the time of filing such petihoni ana II l
larger sum shall be realized therefrom than tne
value estimated as aforesaid by the court, ne sna
at such time or times as the court may prescripe
render the court true account thereof and mere