The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-02-10
OUR SAVINGS INSTITUTIONS.
Moro Than sac. 900. 900 In our saw
lngs Banks.
Increase OF more than SO, 3,ooo, 900
During the Past Year.
Bank Examiner RIsbee's Annual
Report.
BANK EXAMINERS OFFICE.
Buckfioid. DecemhAr 4. 1S0O (

~h1otNp DClCmDCt II AooOs
10 Me honorable Governor and Erecutiee
council Of the State Of Maine:
ln accordance with the provisions OF law
have the honor herewith to submit the
thirty-fourth annual report Of this depart
ment relating to the condition Of Savings
Banks, Trnst and Banking Companies and
Loan and Building Associations, organized
ana doing business under the laws OF this
state.
SAVINGS BANKS.
The whole number OF savings banks and
Is hfty-f0ur, the Limerick Savings Bank hav-
Ing closed its AFT airs as was anticipated In
the report for 1889.
An examination Of the statement Of each
bank. as well as the tables found on the fol-
lowing pages. will show beyond a doubt that
our citizens not only have confidence in these
institutions but the management OF the same
has been marked by agood degree OF success.
The total deposits on November 1st was
S47, ,7S1, 1860, which Is gain Of So. .S04 81 for
the year.
This increase Of deposits at time when
stringent money market was so general in
Maine as well as In the large commercial
centers Is not only an unexpected but very
fattering state Of affairs.
Very many of our citizens and some Of our
public journals are in the habit OF pointing
to the large deposits, and particularly to the
increase Of deposits from time to time, ana
attribute this gain wholly to the increased
wealth OF cur people.
OF course this Is true In a measure bot il is
suggested that the sound management and
security OF the various banks for the past
lew years has been fully recognized and ap-
preciated, and has created habit Of deposit
ing In savings institutions In place Of the old
time money letting by neighbOr to neighbOr,
at the same time the aecumulations Of diyi-
dends which are not withdrawn by the de-
p0sitor but allowed 10 remain and Increase
the deposit would account for large part OF
the increase.
The whole number OF depostors Is now
14o,521. gain OF S.229 during the year, and
tne average balance of each depOsitor Is
$40 OF, a much larger average than last year.
ID order 10 comprehend the whole number
OF depOsltors It may be we'll to state that IL
comes within i've thousand OF equalling the
tJtal vote cast In the gubernatorial election
In this state in 1888, the number being well
distributed over the State.
IL was not many years ago when a number
Oh persons In one locality having deposit In
bank, much more a savings bank, was the
exception rather than the general rule, to-day
the rule Is reversed.
In the table will be found Just what por-
tlon OF the deposit0rs have balances OF $500
or less, also the number having over $1,000;
Ln Lne former ls shown 70 be i1O.7s6 OF nearly
% Der cent OF the whole number, while the
latter Is only 2,102 or about one aud one-half
per cent. OF this latter number 1888 have
balances exec eding 5000.
RESERVE FUND AsD DIVIDENDS.
The statute provides that before the trus-
tees OF savings banks shall be authorized 10
declare dividend they shall set apart one
Quarter OF one per cent Of the average amount
Of deposits for the six months previous TO
declaring a dividend. which sum shall con-
stftute reserve fund TO be kept constaotly
on hand TO secure against losses and con-
tiDgences until 1t amounts to five per cent Of
the deposits.
This fund now amounts 10 S1.9f1, 1896, a
gain OF S162 23453 for the year.
IL Is further provided that after the reserve
fund has been set apart, dividends shall be
declared from the earnings, not exceeding
two and one-half per cent semi mi-annually.
The dividends paid by the banks range from
three TO i've per cent, two paying three per
cent, forty-two paying four per cent, seven
paying four and one-han per cent aud three
paying five ptr cent.
RESOURCES.
1t may be Of interest to examine briefly
how the resources Of the banks are invested
and give below statement Of the whole
resources Of S60,90i .527.60 which Is divided
as follows: