Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-01-15
MAINE BANKS.
50th Annual Report Of
State Examiner
Shows Substantial Gain In The
Savings Of The People.
Recommends More Stringent Law
In Regard To Trust Companies.

The ffticth annual report of the
state Bank Examiner on the condition
of the Savings Banks, trust and bank
ing companies and building and loan
associations Of the state has been sub
mitted to the Governor and Executive
Council. An ahridgment of the report
follows:
To the Honorable William T. Cobb.
Governor, and the Executive Council
OF the State Of Maine:
The present bank examiner entered
upon the duties of the office on July
21st, when substantially two-thirds of
the official year had elapsed and the
official examinations of a large number
of the banking institutions had been
made. The years work has therefore
been divided between two administra-
tons, and for obvious reasons this re-
port. aside from few general observa-
tions, will be confined to publication
of the results of the annual eXami-
nations and a tabulation of the So
called October returns.
For the purpose of facilitating COM
parsons. both Of individual institutions
with one another, and of one year with
another, the very excellent plan pur-
sued by my predecessors. of fully tabu-
lating the October returns, will be con-
tinucd.
1t should not be understood, however.
that this elimination of matter from
the annual report means any lessening
of the work Of the department. These
several reports will continue to be re-
ceived at this office, thoroughly eX-
amined and kept on file, where they
can be inspected by all persons inter-
ested in them, and the fullest informa-
ton concerning them will, at all times,
be cheerfully given for the asking.
There are now existing in this State
undcr the supervision of this depart
mont 1l9 institutions which combined
assets amounting to $126 .65S. 03S.12, clas-
sified as follows:
II Savings Banks........ $Sa,6S1 HI =
20. Trust and Banking Co.. ;33i2. lt6 40
81 Loan and Building Asso... 3.3i.'269i
11G......... Total ............ $l-b,6'S,cjN.lZ
A condensed tabulatiOn of the total
assets of these institutions shows a
gain in total assets over the preceding
year Of 50. $50, 600.99. or a greater gam
than that made during the previous
twelve months, which was then re-
earded as a banner year. of $1,SS9.91O.2S.
Deducting from this. $4,000, the COM
bined capital and surplus of the seven
new trust companies organized during
the past year, and we have net gain
in total resources made up of deposits
and undietributed earnings of $780,
600. so, or a gain of 81, 139,9102S over that
Of the previous year, exclusive OF capt.
tai stock and paid up surplus of the
new companies.
In order to give q complete idea Of
the prosperity of the State as shown by
it's banking business, it is necessary to
couple the report of the condition of
the State institutions with that OF the
national banks located in the state.
There are now so national banks
against So one year ago, but these show
an increase in total resources of So: no.
151.S2, against q net loss during the
preceding year of $62,91S.99. Add this
gain to the total gain in resources OF
the State institutions and we have a
showing to the good of s13,O61 .352.S1 OF
net gain more than 81 per cent great
err than that OF 1905 over 1904.
The savings banks have 219,6S7 de-
positors, a net gain Of 4,565 for the