Daily Kennebec journal., 1900-01-19
their real estate. even though, it be at a

sacrifice
A synopsis Of the reports of receiver
Tor the year, gives the condition of eacl
one which Is now in receivers hands
The receiver of the Richmond Saving
Bank paid further dividend of eight pc
cent as or October 4, 1885, amounting t,
$3.50. 3d. This makes seventy-eight pc
cent in all that has been paid to the de
positors in this institution. The asset.
have been substantially all reduced t.
cash, and the receiver advises the depart
ment that he will settle his final account
in short time.
paid the creditors of the American Bank
ing and Trust Co. of Auburn, a seconC
dividend of 25 per cent. There has beer
quite an appreciation in the real estate
owned by the company, and the deman n
| for 1t is constantly increasing and fire.
quent sales are being made. 1t is expect.
ed that another dividend of at Least
twenty-five per cent will be paid within
| the next six months.
AT The date of the last report, ther,
had been received from the assets of the
| Northern Banking Co. that came to the
| possession of the receiver the sum OF
s6,893l The balance of the assets have
since been disposed of and the amount OF
| cash now in his hands is 81, ,S59 80.
The second account Of the receiver has
been filed in the supreme judicial court
| ana upon the approval Of the same, anC
| the determination by the court of The
amount Of the deficiency of the assets OF
| the company, proceedings Will be insti-
tuted TO determine the amount of the IL
ability that may exist against the share
| holders Of the corporation on the stock
| held by them.
| BY authority Of the court, the collat-
eral security held by various creditors,
the value of the same having been deter
| mined by the master, has been applied n
reduction Of such creditors respective
claims.
The receiver of the oxford Count v
Loan Association reports that, when the
affairs of this association were placed in
ms hands for settlement he found nom
inal assets amounting to StD, los a. and
notes, debcnture bonds ana other out
standing liabilities amounting to 81, $50
These assets consisted almost wholly ,pi
loans secured by mortgages Of real es-
tate located in the West. He has at
tempted to collect such OF these loans as
We're overdue. Where it was manifestly
Impossible for the mortgagors To redeem,
inrerlosur" proceedings have been com
mencrd ANA the amount Of the notes
transferred from loans. to real estate by
foreclosure
The receiver of the Granite STATE Prov
id"nt Association makes tho following re
port:
"At the date of the receivers last re-
port there Were outstanding in tn. state
~ Main" some tfty-aiN mortgages nego-
tiated by the Granite state Provident AS
snciatipn before its insolvency. and In
very many eases the property embraced
in the hrst mortgage WAS not round suf-
nclent to satisfy such mortgage.
Judge Haskell Of the supreme court
appointed ffenfN w SWaStN Oi Portland
as special master TO receive proof OF
claims under the mortgages negotiated
by the association. and to Fix the value
OF the securities under such mortgages.
The master proceeded to inform him
self as to the condition o. ana to exam
inc most Of the respective premises. and
to determine what in his judgment Is the
value Gf Such mortgagrd real estate.
lie has not made any formal report TO
the court. rs he has deemed it better To-
delay reporting arbitrary values until ev
cry reasonable effort shall have been TX
hausted 10 adjust the various matters in
VolVed by the parties in interest, upon
such terms as he can approve and recon
mend.
In many instances shareholders Were
unable To produce their certificates be
fore the receiver under the order Of the
court, for the endorsement of the per
centage ordered paid thereon; and ap
plication has been made to the court fpr
authority to pay the percentage on such
lost certificates. upon the filing Of appru-
pirate proof of such loss.
The real estate in the hands Of the re
ceiver under foreclosure proceedings i
being disposed Of. for cash. as rapidly a.
possible. having regard for the best in
terests of the shareholders
Licenses have been granted during the
year to the Iowa Loan and Trust 90. OF
ing Go. of Middletown. Conn. and the
Nebraska Loan and Trust 90. Of Hast
ings Neh.
Beside the Introductory statements
briefly summarized in the above abstract
there are to be found on the pages of the
report. detailed statements o. the re
turns ana examinations Of all institu-
tionS under the supervision Of the depart
ment. statistical tables compiled there
from: list Of all depoSitors in all saw
ingS banks that have not made q deposit
or withdrawn any part for period of -
years or more the statements of all for
eiSn corporations having a license from
the department to do business in the
State and an appendix containing an
abstract OF the laws relating to an VI the
above institutions and a synopsis nf the
laws relating to the investments by say
ingS banks.