The Portland daily press., 1893-01-26
THE TOOTHSOME SMELT.
Continued from First Page.

money represented in the investment Is
placed at figure as high as 81, BOY, ooo
in order that these 13, 000, 900 feet OF logs
NAV be properly handled, the company
must have faci tiles for gathering them
in hooms when thew reach Madison, af-
fer their Journey down the Kennebec. 1t
is for such rights that they now petition
the legislature.
Commissioner Chadbourne's Bill.
Railroad Commissioner Chadbourne,
whose views on the question of legisla-
ton to govern the manner of the cross
ing of electric ond steam railroads were
described in the PRESS ,of Monday, will
emhody his recommendations in the
form of bill to be submitted to the
legislature.
The Bank Examiners Report.
State Bank Examiner Written has
completed his annual report. 1t con.
tains these figures:
1t shows SO savings banks, having on
deposit $50, 1897, 949, showing a net gain
for the past year of SIS, lie, 496; deposit
tors, 155, 1873; net gain, $3.50; average DIV
idend, 4.04 per cent; number OF trust
and banking companies, ID; paid mp cap
ital. 81. O69, 500; increase, $50, 800; depos-
it's, So, 004, s01.5o; increase, S4Ss, COG; ls'
resources. 81, 1866. 324.S7; increase, $685.
S47. 43: number of loan and building as
sociations, 20; accumulated capital. ST.
1874. S19.11; resources, 81, 460, l93.40;
shareholders, 1897; increase, .llS7; Dor
..,wers, 1858; increase, 4O2; shares OUT
standing, $4,000; shares pledged Tor
loans, 1850; number of loans, 1910; gain
deposits in past 10 years, $22.076,Ooo.
Mr. Written advocates Maine invest
ments because he says he believes them
to bel safer in the sense that they have
greater facilities for examination. Inc
report says: 'sThe principal objection
urged is the fact that a majority OF our
home bonds only pay per cent interest
while very many foreign investments
promise per cent OF more, and IN order
to pay 4 per cent dividends the banks
cannot afford to purchase per cent Sc
curities.'' OF course it is perfectly APP
| parent that in order to pay4 per cent
dividends bank must earn at least o.
per cent, but the question OF dividend is
secondary to the question OF security,
Another question that enters into this
subject is the developing OF our home IN
dustries. If good part of the money
| that has gone South and West within the
last few years could have been kept at
| home and used to develop our own in
dustries and resources it would have
been of great advantage to our own
state and also in certain instances to the
bank investing in the same. The
question of security being equal,
give our Maine railroads and corpora
lions the first right to our money. Ihe
suggestion has been made that our saw
| ings banks be allowed to invest in inn
proved real estate in the cities OF this
state to an amount not exceeding i've
per cent Of their deposits and | see no
reason why it might not be safely DONE. :
| Mr.. Written suggests that the amount
required to be carried to the guarantee
| fund of each distribution by loan and
| building associations be at least per
cent. He also recommends the rapid
reduction of premium accounts.
The Yarmouth Railroad.
The railroad committee is unanimous
ly in favor of reporting the Yarmouth
and Portland charter but have submitted
| it to Senator Waterhouse and Mr..
Sawyer of Portland, who will examine it
| to see that it conforms to the require
ments of the committee.
BY Associated Press.
AUGUSTA, January 25.-There was an
important hearing this evening on the
Eastern Maine insane hospital, for which
it is thought majority of the committee
will vote for the appropriation OF $780,
900: also hearing before the committee
ON taxation on the SUI ject of steam rail
roads. The representatives of the Grand
Trunk. Maine Central and Boston &
Maine were present and argued that the
present taxes are too high and should
not be increased.