Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1884-11-29

OF Hon. Fred IL. Richards, Bank Examiner
ofMaine.

I "a 1AAAAAGs
| Hon. Fred E. Richards, bank examiner OF
Maine, has issued his annual report from
which we make the following abstract:
| In presenting the Twenty Eighth Annual
Report of the State Bank Examiner, it affords
| much satisfaction to state that, notwithstand-
| ing the past year has been one of liquidation.
| involving an enormous decline in values. the
surplus above liabilities of - .0e0, 900, which
was held by the savings banks of Maine at
the close of last year. has remained unim-
paired. and their condition is such that they
we're never more worthy the confidence of
the public than at the present time.
At the close of last year there were 2O.S48
dep0sitors of more than $500 each. and at
the present time there are 20, 78o, which lndl-
Gates that the increase of deposits during the
year is from the accumulation of small sums.
The aggregate of deposits Nov. l. 1888.
was s3I ,3TI, s6s.s7; on May, l, 1884, $780,
275. IA. 40, and Nov /, 1884, 32.9l3. 1886. l6,
showing an increase during the first six
months of 1903, s75 50. and during the last
half of the year of S638. 090.6T.
In 1874 there were So savings banks in the
State. Amount of deposits, s3l, 05l, 1858 10;
number of depositors, 96.799; average to
each, 800. Ten years later. at the issuing of
this report, there are "a savings banks in the
State Amount of deposits, 49,, 9l3. S35 l6;
number of depositors, los, $50; average in
each sSll. This is an increase of 1865
accounts, and an increase of So "a TO each
during the year.
The reserved fund continues TO show
healthy growth. increasing the first six
months, s22, 463 Is. and s35, s7l 90, between
May and Nov. |. and reaching an aggre-
gate of sl,098, 43l3T, at the close of the
present year.
Regular semi annual dividends have been
paid by all the savings banks at the following
rates One bank per cent per anpum;
three banks, ) per cent per annum; eight
banks, u per cent per annum: orty two
banks, 4 per cent per annum. The amount
of the several dividends was 81 ,254, IA so.
There remained in the savings banks Nov. |,
1887. 1895 in undivided profits.
The amount invested in United States and
district of Columbia bonds Nov l, 1888,
was 1854, 40037. and Nov. l, 1884, 81, 739,-
$40 SO. making decrease during the year of
1914. 559.79.
Within the year investments in bonds of
the State of Maine decreased from $50, $40 to
S2S.6lO.
The county, city and town bonds held by
the savings banks have increased from Sl0,-
ZSf ,flZ.0l 10 SlU, 500, JSl.U3.
The aggregate of railroad bonds owned by
the savings banks is S4,363, 3Sl 46, which
includes 81 ,765 900 of the railroads of this
State. The amount invested in railroad
bonds has increased during the year $685.
$50 60.
Investments in corporation bonds and cor
poration stocks, etc., amount to Sl,l75, 359.-
AZ. This item includes the railroad stocks
held by the savings banks.
The real estate in possession of the savings
banks by investment I'D foreclosure amounts
to 81, 1874 ,087 IS.
The savings banks own national bank stock
to the amount of 81, 593, 537 %, a gain of
S48, 22S 80 from last year.
The loans on mortgages of real estate have
increased during the year ending Nov |,
1884, from So, PIG, 929. IL to s., ABS, sos Sc
while all other loans have increased during
that period from 81 ,434 ,537.03 to S4,60s,-
6S0.O4.
The uninvested cash, Nov. l, amounted to
SOL 1868 "a. the greater portion of which is
deposited in national banks at per cent in
terest.
The savings banks have paid the State
Treasurer for taxes this year, Sl91 ,Sl7 SO,
an excess of the amount paid in 1882 of
Sl,72S.24.
During the year final settlement of the
affairs of the Scion Savings Bank has been
made and the depositors have received per
cent in excess of their claims as allowed
The affairs of the Newport Savings Bank
have not yet been brought to a final settle
ment. The depositors have been paid 20 per
cent of their claims, and final dividend of 5
per cent will be made in few months.
The Peoples Twenty Five Cent Savings
Bank of Bath, the deposit accounts of which
were reduced. by decree of the Supreme Ju-
to 80 per centum of their then existing value,
has represented to the Court that larger
SUN has been realized for portion of its
assets than the value then estimated by the
Court; and prays that pro rata dividend of
the excess may be authorized. The third
Tuesday of December has been appointed by
the Court for the consideration of the same
BY bill in equity brought by the trustees
of the bank at the October term of the present
year, representation is made that during the
time the Wiscasset Savings Bank was under
the injunction, its earnings amounted to &c.
072 80. which profits, belonging to the
depositors of the bank at that time, have
never been divided and praying that the bank
may be authorized. by decree of Court, to
make All equitable distribution of such undi-
vided profits. The Court has ordered that a
hearing shall be given in the matter. at Wis
casset, the first Tuesday in December, inst.
Since my last report, the Portland Trust
Company has completed its organization and
opened its doors for business. Its paid-in
capital is 100000. and it has authority to
increase the same to 81, 100000.