The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1886-09-30

reason that they are not interest paying, and
are ordinarily presented for payment within
few days from the date of issue.
The balances due to and from Boston and
New York banks L have verified by having
accounts sent from such banks, which have
been duly reconciled. have not yet verified
the balances due to and from other banks,
but shall do SO by correspondence before
have finished my examination. l have not
yet verified the balances due individual de-
positors, except so far as / could from the
Deposlters Ledger, nor have yet veTlned
the item OF per cent redemption !unu.
There are other matters to which / desire TO
call your attention in relation to the re-
sources:
First-Of the amount of $s,361 "A, over
drafts $7,018.5S have been pald since tne gay
of my statement; OF the remaining
$1,342.86, there will be an estimated loss Oh
$96452.
Seeond-On the overdue notes: from the
hest information that | can obtain, L think
the bank will lose the sum of 81 900.
Third-In the demand loan there will be
loss to the, bank OF $4,000, the amount Oh
two notes, the signatures of which am IN
formed were neither made nor authorized by
the persons whose name is on the note as
maker.
Fourth From the best information that
can obtain there will be a loss OF 81, 1885 on
note of W. E. Gould for $9,S1S.96 secured by
$12, 900 of Toledo, Delphos q Burlington
railroad bonds, which are probably worth at
the present time twenty per cent. OF S2,4OO,
leaving above loss.
FiftR-The $4,000 Eastern Car Trust
bonds are interest paying, but | am informed
are worth at the present time from seventy
to seyenty-five per cent. AT seventy-hye per
cent. the loss will be $4,000.
Sixth-There has been carried since Nov.
81. 1883 among the resources an item of
$19S0.95 balance of taxes paid upon the land
where the bank building stands, which
amount should lave been long ago charged
off.
The deficiency on the two accounts of
cashiers checks and certificates OF deposit
you will remember has already been deduct
ed by me in my statement from the surplus
fund, in addition to which there should be
charged off the foregoing items, the summary
of which is as follows:
Estimated loss on over drafts. ........S 964.52
Estimated loss on over due notes.. IL, 10000
Estimated loss on demand notes, sig
nature of which is denied. 100000
Estimated loss on demand note of w.
e. Gould secured by bonds. ...-.. 7,4l796
Estimated loss on $4,000 Eastern
Car Trust Bonds. ............... 49,. 4,Q000u
Item of taxes OBSERVATION-DISCLOSURES. 1880 95
$50, 1858 .43
In addition to the foregoing / desire to call
your attention to the following matters:
First-I find in the demand loan two notes
of $4,000 each, signed in the name of the
Calais Water Company by w. E. Gould,
Agent These notes call for $4,000 Calais
Water Company bonds as collateral, these
bonds are not to be found, but in their place
| find $4,000 Wakefield Water Company
bonds.
Second-I am informed that the late
cashier says that depositor of the bank has
left with the Bank $4,000 of government
and railroad bonds, and that the same has
been disposed of by him, the cashier can
only say that am unable to find any record
entry or memorandum in relation to any
sI1ah transaction
To make good the foregoing losses and de-
fciencies as far as possible, Mr.. Gould has
transferred to one of your members, viz:
Governor Frederick ROBBIE, in trust for the
Bank, a considerable amount of property,
consisting of the house on State street, occu-
pied by MIR. Gould, interests in six vessels
and certain stocks and bonds. You are bet
ter enabled to judge OF the value of this
property and as to the amount that the Bank
will finally recover than l could possibly be,
so that l will express no opinion upon the
subject, and the same remark applies with
equal truth as to the amount that you will
recover upon the cashiers bond
But whatever sums the Bank may finally
recover in either of the above ways can at
that time be credited to your surplus or profit
and loss account.
In this connection it should also be said
that one note of w. E. Gould's for $3.50. 26
the bank holds security worth at the present
time nearly if not quite $1,000, so that out of
this security the bank will have about
$4,000 to apply towardsother deficiencies and
losses.
l deem it proper to add that at the time of
my last examination, viz: May "A, 1886, /
found upon examination of. the bank books
and reported to the Comptroller of the Cur
rency that the report made by the cashier
last previous to May a. 1886, was incorrect
and did not show the true condition of the
bank at that time.
In closing allow me to say that the fore
going statement shows SurnlnS of BID
256.09, to which may be added discounts re-
ceived and rents of $26, 5000, making total
of $13S, 816.79, out of which should come the
debit balance of profit and loss of So, 1920
and current expenses $512.59, leaving at the
present time balance of surplus and undi-
vided profits of $134,S46.9 and after you
have charged off the various items mem
toned above, amounting to $30,963.43 you
will still have clear balance of $103, SO
of surplus and profits.
Although as | have above stated have
not entirely finished my examination, yet |
have so far concluded my investigation as to
warrant me in making this report and l
have thought best to do so without further
delay. l have found no Irregularities ex-
cept in relation to the matters above special
ly referred to. | will also add that the loan
has been carefully examined and found in
good condition with the exception of the
probable loss upon the over due notes which
is not an unusually large amount and with
the exception of the other matters in the
loan particularly called to your attention in
this report.
Very respectfully submitted,
ANDREW p. WIswELL,
National Bank Examiner
1t is reported that a copy of the report will
be furnished Mr.. Gould this morning, that
he will come into court, plead guilty to the
Indictment that has already been found and
take his sentence. This however is rumor,
and it is still possible other indictments may
yet be found by the Grand Jury against
him. If there should be they may be report
ed this morning by the jury, copy be
furnished his counsel, and he still plead to
them all in the afternoon and be sentenced,
the whole proceeding not occupying half
hour.
Yesterday there was feeling that posi-
bly,, pending the further action of the Grand
Jury, Mr.. Gould's friends might be brought
forward as bondsmen and that he would
give bail and return to his residence in the
city until his trial. but such was not the
case. Mr. Gould still remains at the jail as
cheerful as could be expected under the cir
cumstances. The Grand Jury is still in ses-
sion and has reported no further indictments
To show the interest taken in the case by
the public a conductor of the horse car run