Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-07-07

institutions under supervision OF the de-
partmcut We're Sos. 1.226J2. and April 2S.
1906 they were Sl2l OS33 i53.OI. This is a
gain of ST.. go, ..,22i.I IS il assets during the
time. The total assets of the State bank
ing institutions are now Just about one
third as much as the entire assessed val
uation Of the State.
Sine. September. 1899. the State bank
ing institutions have paid i'll taxes over
5000 900, while expenses of the depart
ment in direct appropriations and Sala-
ries have been less than $4,000. The
banking laws have been considerably
amended and improved during this time.
Formerly the bank examiner had no reg
ular Office. and papers and documents
were not preserved. A regular depart
.ncnt has been established and d system
documents adopted
A constant effort has been made to
eliminate all fake" foreign associations.
and law; haze been enacted to prevent
their doing business here. Large sums
of n0uc, h,-.- been saved to our people
in this way. During the time there has
not only been II marked Improvement in
the financ ial condition of all institutions,
but also iii their methods Of doing bust
ness. in their banking rooms, etc.
In 1925 the banks held Il large amount
Of undesirable securities, many of them
almost worthless These have since been
charged off. in every instance burt ono,
without loss to dcpositors. ana at tn"
same time the banks have increased their
reserve and improved their general
standing and condition.
The total reserve accommodations. or sur
plus has during that time increased from
g. 1876 20 70 to sG176.9t397. or nor" than
doubled At the present time the d"pn&-
itors and shareholders in th"s" instit'l-
tions lust about equal in number one
half the entire population Of tn" state.
Savings Banks-In 1885, there were -
savings banks in the state. One has been
Inundated since. leaving II now dong
business The deposits at the time Of the
first tabulation rs OF Nov. -. 1875. wera
s-6 {; ~: April u. 1905. they were SSl.-
13OS123o This is a gain during that time
of s2i. IA, GfS q. and 4 gain in total assets
of this class of institutions of S2>..'''''s'' 81
The reserve has increased during that
time from 81 .a13, 9a5.T to st44i.63303 Thls
item moro than any other indicates the
ing of these institutions during that
time. The number of d"positors has IN
creased from iGO,.l6 to 2l'.l22. tn" saw
inCs banks have paid in dividends during
that time over S2f,Wo"o
The Withdrawals or amount actually
paid 70 depOSitOrs. and thus add'd 70 IN
general property OF the State during that
time. has been over sl21.OO0.0D During
the time the savings banks have paid in
taxes tn the State si11J. p3.13
In $50, the estimated market Naii" o
the resources of the savings banks aboV,
all liabilities was so,o2o,9i6.i2. In 1893 il
was 81 ,362. ESQ.
Trust and Banking CnmranieS-ln lS'
there were II trust companies doing bust
moss in the State. now there arc g. Tllril
combined assets Nov. IS. 1885,, were but
| Sc .641. 1853. while at the time of the las
call upon April ~. 1906. they were 81
| S9J.aa729; In other words. they nave III
creased over fcur-fold
Their surplus at that time was Sl9','U'
while now it is sl.e"H''o
The trust companies were first reGuir
ed to nav State tax upon deposits il
1901. Since that time they have paid int
| tbc state treasury 500. $50. So.
! I,oln and Building Associations-Th'
| number of these Institutions in 1893 wa:
| % They now number 81. Their accumu
| ia+ad c.,n;i.,l has increased 1881 33l. -, ant
| their total assets $793,sG.95 during tn
| time.