The Portland daily press., 1884-11-29
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SoOsAOA 1o7tsOf
Notwithstanding the past ysar has been one
Of liquidation, involving an enormous decline
in values, the surplus OF liabilities of 81 000,-
GOO, which was held by the savings banks Of
Maine 1t the close Of last year, has remained
unimpaired, and their condition is such that
they were never more worthy the condolences
OF the public than at the present time. This
surplus is largely composed OF premiums above
the par value which the securities would COM
mand II offered for sale in open market; and
consequently the same stability only exists
of the surplus Of the bank that is maintained
by the market value of its assets. II tho prices
advance, the surplus increases; bat il they de-
eline TO par, the surplns may entirely dsap-
pear.
rhe number of dspositers in the titty-four
savings banks ia 105,6SO, of whom 81, ,SO2 are
dspositoTs OF less than $500 each, aud the
average amount to the credit OF each is s3l1.-
A. This is an increase of 1858 accounts. aud
an increase of SO "a to each during the wear.
At the close of last year there were 2oS4O de-
positors OF more than $500 each, and at the
present time there are 207SS which indicates
that the increase OF deposits during the year
Ia from the accumulation Of small sums
The aggregate Of deposits in the savings
banks November 1. 1888, was S31, ,371 1858 81; on
NAV 1, 1884, S32, ,275, ,744.49, and November /.
1884, $329l3,S351e. showing an Increase
during the first six months Of $90S, ,S75 50, aud
during the last half Of the year OF S63S, ,O9O.67.
The reserved fund continues to show a
healthy growth, increasing the first six months
S22, ,46S. .lo, and t35,S7l.92 between May and
November ], and reaching an aggregate Of
81. .O90,4 ,431.37 at the close Of this present year
Regular semi-annual dividends have been
paid by all the savings banks at the following
rates: One bank per cent per annnm; three
banks per cent per snnum; eight banks Al
per cant per annum; forty-two banks per
cent per annum.
The amount of these several dividanda Vas
81, ,284 ,444.S0. There remained in the sayings
banks November 1, $685., 1926 In undivided
profits.
The amount invested in United sta.ss and
District OF Columbia bouds November 1, 1883.
vas 81, ,584 ,4OO.37 aud November /, 1884 s4,-
739. .84O.5S. making decrease during tho ysar
OF $S44 659.79 Within the year Investments
in the bonds OF the State Of Maine have de-
creased from $55,9lo TO S28,610. The county,
city and town bonds held by the savings banks
have increased from $40, ,2S7 412 81 to S1O,-
6S3, 90. This includes 1884, 900 of Maine,
S3.362,OOO OF Ohio, S2.439 900 o. Indiana.
$03O.OO0 OF Illinois, 1887 900 of Missouri $685.
600 of Minnesota, 1892, 600 of Iowa, S2lS, 600 OF
Kentucky and $4,000 OF Michigan.
The aggregate OF railroad bonds owned bv the
savings banks is 81, 1863, ,3S1 46, which includes
81 600 OF the railroads of this State The
amount invested in railroad bonds has In
creased during the year 1928, ,550.60. Invest
meuts in corporation bosds and corporation
stocks, etc, amount to $1,175, ,359.42 This
item includes the railroad stocks held by the
savings banks. The real estate in possession
of the savings banks by investment and fore-
closure amounts to 81, ,124, ,0S7.6s. The savings
banks own national bank stock to the amount
OF $1,5S3,5S7.22, gain OF S4S. .228.99 from last
year.
Tho loans on mortgages Of real estate have
increased during the year ending November l.
1884, from S5.216 929.17 to S5 4SS sos 56, while
all other loans have increased durins that ne.
riod from 81 ,434 ,5S7 O3 to 81 COS 6SO.O4.
The uninvested cash, November l, amounted
to $751, 1854, the greater portion of which ia
deposited in national banks at per cant. in
tarsst.
The savings banks have paid the State
Treasurer for taxes the present year. SI91.-
SlI %, au excess OF the amount paid 10 1882 Of
81, ,72S.24. This result iustifes the recommen-
dation OF the bank examiner that the rnta of
taxation should be modified, aud xsrifes the
prediction contained in the report of 1882 that
such reduction would tend to increase rather
than diminish this revenue to the State.
During the year final settlement of the Af-
fairs OF the SoloR Savings Bank has been ef-
tected. The affairs Of the Newport Bank, the
PEOPLES Twenty-Five Cents Savings Bank at
Bath and the Wiscasset Bank have not bean
finally settled. The report refers 10 the or
gAnization and purposes Of the Portland Trust
COMPANY. 1t refers in fitting terms to the
late Hon. Joseph Dane, president of the Ken
nebunk Savings Bank, and the treasurer of
the Orono Savings Bank, M. Z. P. Butler