The Portland daily press., 1888-12-01
THE SAVINGS OF OUR MAINE PEOPLE.
Hon. fred G. Richards Makes his
Annual Report.
a Bank Account for Nearly Every
Maine Family.
The MIhlons put Away In Sure
Places.

OF all the official reports made yearly by
officers OF the government Of the State Of
Maine by far the most important and inter
esting Is that made by the Examiner Of Saw
ings Banks. 1t deals with institutions pat
ronized by large proportion Of the men and
women Of the State, and in which they have
a pecuniary and therefore lively interest
To all these the very clear and able report
made this year by the State Examiner, Hon
Fred 4. Richards, will be a most interesting
document. 1t shows in the first place how
extensive has become the habit Of putting
away savings In the banks, the number Of
deposits being almost as many as there were
families In the State by the last census. In
1880 there were about IA, 600 Maine families.
Mr. Richards shows that on November 1st Of
THIS year the whole number OF deposits in
the Maine Savings Banks was 124,562, OF
which 80 ,293 represent deposit Of less than
$500 each, and q, ,269 represent larger ay-
erage. The number Of depositors has in
creased during the year 1888. The accounts
OF deposits less than $500 have increased 1890,
while those above $500 each show an in
crease OF 1443. The average balance Of each
deposit is S328. 81, an increase for the year of
1888 In each account. The aggregate Of de-
posits Nov 1st 1887 was S3S, ,S19, ,643.22; May
lst 1888 1t was S39.S71, ,96971; Nov. LIST 1883
II was $40, ,969, ,663.05. The increase during
the first six months was 81 ,052, 1868 and the
total increase for the year s2,I5O,M983. The
Reserved Fund has increased during the year
s2l2,4ll.74 and amounts to 1881, 1870
This shows how popular are the Savings
Banks. Mr.. Riehardss report shows next
what the banks are doing to justify this pop
ulraity. All the banks, and there are fifty
| nve OF them, have paid dividends. There Is
not single Maine Savings Bank that has not
/ Dal6 ltS regular SQnt annual dfvfdandQ hur
| Ing the last year. One bank has paid 81 per
| cent per aDnum; f0rty-two banks have paid
per. cent?. one bank has paid At PER cent (;
five banks have paid Al per cent; one bank
has paid AZ per cent; i've banks have paid
per cent. The amount Of the dividends was
| $l,479, 1865, and at the close Of the year
there remained in the banks S1,024, ,S67 81 Of
| undivided profits The ffty-hve savings
banks have also paid State tax Of $685.,
S6S.06. This does not include the tax on the
| deposits In the several trust companies, but
| represents Just what the Savings Banks have
| contributed to the public revenue, besides
paying the interest on their deposits.
On the way in which the banks have in
vested the money intrusted to them depends
OF course their stability. Mr.. Rich
ards makes the gratifying report that by the
| appraisement made In May 1t appears that
| their asserts were worth S5,031, 1914 In ex-
| cess OF all liabilities. OF these assets the
| amount invested In United States bonds has
| decreased from 81, ,879, 754.12 to 81, ,314, ,5S5.
| The investment in county and city bonds has
Increased from S12, ,433. log. .s5 to S12 0S5 $685.
| The amount invested in railroad bonds has
Increased from S8, ,279, 41968 to S8. .745, ,777.49.
| The investment In bank stocks has increased
| from 81, 120, ,065.08 to 2,3O3, 575.0S. Besides
the above the banks hold railroad stocks
amounting TO S642, ,040.87; corporation bonds,
| S1,3J4,11S corporation stocks, S1S0,1 I;
real estate, 81, ,091. 1888; mortgages Of real
estate In Maine, S6,407, ,247.16; corporation
and collateral loans, $685. ,S52.07; and cash
on hand Nov. 1st, 81, ,604 ,2l3.15
A matter Of some interest is the extent to
which the funds Of the banks are invested at
home and in other States. Mr.. Richards
gives In tabulated form the facts in regard
20 each class Of securities as shown on the