The Republican journal., 1898-02-03

Examiner Undertake Makes His Annual
Report. An Increase of Nearly 5000 i'll
Depositors.
Hon. f. f. Timberlake, the State bank
examiner, has made his annual report on
the condition of the Maine banks.
He says among other things:
In compliance with the provisions of
the Revised Statutes, chapter As, section
1926, have the honor to submit here with,
for your consideration, the forty first an
nual report of this department, showing
the general conduct and condition Of all
the institutions under my supervision,
and making such suggestions as have
been deemed expedient
The number, classes and assets of such
institutions are as follows:
81 Savings banks. .............. So, S2G, 303 SO
IL Trust and banking compan-
les. ................ I 5l3, 403 -
81 Loan and building assocIa-
tlOnS. ACKNOWLEDGEMENTS. 2,4l2 963 IS
100 Total Observation-Disclosures. So, 2252 go I'll
This is a decrease of four in the total
number of institutions, and, notwith-
standing this, an increase of s., 1913, 0S4 81
in the aggregate amount of asserts dur
ing the period covered by this report
An equal distribution of these assets
would give to each person in the State
S110 81.
They have paid depositors and stock
holders 81, $40, 7G7. u in interests and divi-
dends, during the year. This showing is
highly satisfactory, when we take into
consideration the fact that there has also
been an increase in the amount of their
undivided profits and reserve accumula-
tons, and general charging off of poor
investments.
The report shows an increase of 4, 764
in savings banks depositors, and 81, 121,-
ASP. 50 in the amount Of deposits during
the year. This gain is nearly twice that
for the preceding year.
Out of a total of 1877, $40 depositors,
129, 800 have $500 or less standing to the
credit of each.
The average amount now standing to
the credit of depositors is $3.50. o. an in
crease of 81. ga over that of 1896
The amount of Withdrawals during the
year was $40, 425, 52737, and the amount
deposited, including dividends credited,
$12, 554, S5S. 81.
Owing to the general appreciation in
the value of securities. the larger amount
of investments within the State and in
government bonds, there has been but a
slight increase in the amount of taxes
paid to the State over that of 1896.
The reduction in the premium account,
although small, is highly satisfactory,
considering the fact that the banks have
paid premium on large portion of the
securities purchased during the year.
The present number of depositors in
trust and banking companies is 13,005
and the amount of deposits So, 024, 120. 70.
This is an increase of S672, 1914 IS in de-
posits during the year.
The time deposits and certificates Of de-
post are derived from much the same
source as the deposits in savings banks.
The present number of depositors in this
class is SSH and the total deposits Of
50, 1866, 1873 IS. This is an increase of
$3.50, $50. 10 in this kind of deposits dur
ing the year. The average balance
standing to the credit of each depositor
in this department is $3.50. IS, while that
in the savings banks, as has already been
stated, is $355.O1.
The amount of interest paid during the
year on all deposits is 500, 249. 90, and
that in the savings department alone,
$95, 254.65.
The rate of interest on time deposits
varies from to per cent per annum in
the different banks. The average is sub
stantially the same as the rate of divi-
dends paid by savings banks.
The amount OF dividends paid to stock
holders is $S5, 1852. This would be an
average of little over per cent. on the
entire capital stock of these institutions,
while the average rate paid last year was
but per cent This gain in average
earnings on the capital stock is due in part
to the elimination of 1925, 900 of non di-
vidend paying stocks from the statement
as given in 1896
In the loan and building associations
there is an increase Of only four in the
number of shareholders; 1,O31 12 in the
number of shares outstanding; 1913, Oil. 40
in amount of accumulated capital; and
1921, ST. 16 in the total assets of these in
situations during the year.
They have increased the number Of their