Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-01-17

gain Ill this item in 1901. The amount
deposited during the year, including
dividends credited, has been SIS. 327. 734-
%, the amount actually received from
depositors being S14,0et ,613.59. The
amount Withdrawn during the same
time has been $13,51S, 1850.
slight change from previous years
has been made in the classification of
deposits. Formerly all deposits with a
balance of exactly 50, 600 were included
in the class with those of more than
$1,000 and not exceeding 5000" They
are now included with those of less
than 81, 600 This change was made be-
cause of the provision of statute thus
/ limiting the amount u savings bank
may receive from and one ordinary de-
nositor. Therefore, it seemed to be not
only a more natural arrangement than
that previously uesd, but also of some
assistance to the department in deter
mining whether or not the various
banks have complied with the pro-
vision of law thus limiting deposits.
For the purpose of making the classifi-
cation uniform, the same change has
| been made in relation to accounts hav
ing a balance of exactly $4,000. The
! results obtained from this new classifi-
cation seems to verify the assertions
made in previous reports that the prin-
! cipal portion Of the larger accounts
were just $1,000, or exceeded that
amount because of the addition of
dividends which depositors had neg
! lected to withdraw at the time the re-
ports were made by the banks. Thus
we now have 1919. 7e6 accounts that do
not exceed the statutory limit of $1,000,
and only 3,507 accounts that exceeds
that amount. If the number and
amount of the accounts that exceed
81, 200, because of the addition of
dividends IS above explained, could be
ascertanci ana deducted, it would still
further materially reduce the number
and amount of the larger accounts. 1t
| is safe To estimate that such a deduc-
| ton would reduce this last class to not
exceeding 1900 depositors and $6,000000
deposits. The banks are authorized by
| the statute above mentioned to receive
and pay dividends on any amount of
deposits Of widows, orphans, admins
traitors, executors, guardians charit-
able Institutions and rust funds.
Nearly all banks have such accounts,
especially of trust funds deposited with
| q provision that the income therefrom
shall be used for some charitable pur-
pose. This investigation has shown
tha1 the banks generally observe this
provision of law and have not paid in
| tercst on ordinary deposits in excess of
the statutory limit.
| The present number Of depositors is
203,213, as against 194,923 at the time of
last report.-a gain of $3.50. The pre-
| sent number of depositcrs is very near
lily twice the number of votes cast at
1.-THE last gubernatorial election. APP
Iproximately one in every three of all
| the inha bitants Of the State are de-
positors or an average of considerably
more than one depcsitcr TO each and
every family in the State, The con-
dition and future prosperity of no one
other property interest directly effects
50 many of our people as that repre-
lsentedf by the savings banks. The
laverage amount now standing to the
credit of depostors is $559.G2, as against
LS260.62 last year, while the average in
AL State institutions as appears else
where is. s39i.23 The average to each
linhabitant of the State is $105.26. us
lagainst $10l.22 last year,--a gain of
$foi.