Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-05-10
RfsveaiiBgM iieiylIe1lusi
Co. From Doing Business .
|unl investigation is Made
Regarding Us Affairs.


An order was issued by Associate
Justice Albert NJ. Spear late Saturday
night restrsining the Waterville Trust
Co. from taking or giving deposits un-
til an invest igation is made of the COM
pany s affairs. The company main
tains branches at Dexter, Hartland,
Newport and Corinna and the branches
are included III the court order. The
complaint was made by State Bank
Examiner William Z. Shelton Of Lew
iston after he had made an eXamlna-
ton Of the Institution last Saturday.
Bank Examiner Shelton refused to
discuss The matter last night when
questioned over the long distance tel
epnone. He will go to Waterville the
arst thing this morning and will re-
turn to Augusta early in the afternoon
A deputy sheriff will go to Water
vile this ml rning to serve the neces-
sary papers on the bank officials.
The Waterville Trus: Co. began bus
mess in 1893 and z. ]. Lawrence of
Fairfield. the electric railroad promot-
er, was for many years its president
He vas not a candidate for re-elec
ton at the annual meeting of the
i TuSt 80 1dSl II No uAioti 'At'd-
The fun text of the court order is as
follows:
STATE OF MAINE.
Kennebec County ss-Supreme Judicial
Court in Equity William 3. Shelton,
Bank Examiner, VS.. Waterville Trust
Company.
William B. Shelton Of Lewiston, in
the county of -Androscoggin, and State
of Maine, complains against the Wa
terville Trust CO. and says:
First-That your complainant is the
legally appointed and qualified bank
examiner of the State of Maine.
Second-That the Waterville Trust
Co. is Il trust company incorporated
by special act of the Legislature of
said State located At Waterville, in
said county of kennebec, and operating
branches at Corinna, Dexter. Hartland
and Newport, all in said State.
Third-That upon examination of
said Waterville Trust Co.. completed
this day, your complainant is of the
opinion that its condition is such as to
render its further proceedings hazard
Gus to the public and to those having
deposits in its custody.
Wherefore your complainant prays
that an injunction be issued restrain
ing said Waterville Trust Co. from re-
ceiving or paying out deposits or from
paying any other obligations or other
wise parting with any of its moneys
funds or other assets, except the sur
render of notes held by it, in full pay
ment thereof, until a hearing may be
l, ~, nj nj Tnr Sl1nh
other and further relief as to equity
may appertaln.
The last examination of the Trust
Company. Nov. /, 1908, which IS IN
corporated in the annual report Of
Bank Examiner Shelton gives the la
bilities as 81 ,436. 1892. which is divided
as follows: Capital stock, 100000; sur
plus, $4,000; undivided profits, Sl6,-
81 .04; Savings deposits, $S76,226.5I; de-
mand deposits, $30S, 333. 16; due to other
banks, $2243.J5; bills payable, sl0S.oOO.
The resources are divided as follows:
Loans and discounts. S7S3.211.25; loans
on mortgages of real estate, $g4, 2s4 Al;
oNerdrafts, $2505.05; bonds and stocks,
S2a3 49G 60: real estate, $50, $3.50: fur
niture, fixtures and vaults, $23,1t5; cash
on deposit, S12$$,9340 cash on hand,
S65. 06S. II.
The statement Of the COrinna branch
as given Nov. 4, 1908, shows the liabili-
ties TO be s112594.3S of which amount
$1S.211.53 is under savings deposits and
$34376s5 under demand deposits. The
resources are given as follows: Over
drafts, $500 Sc; cash on deposit at
home office. s106.79213: cash on hand,
on ,1y.+ g al Sn N
soIidated with that of the home bank
The statement of the Newport
branch shows that the liabilities are
$21634211 of which amount $l69,32o.S9
is savings deposits and s41,O2l.Is Is
demand deposits The resources are
divided as follows; OVerdrafts
s104952; cash on deposit at home Of
fee, $199.054.25; cash on hand. SIS
23S40 This statement is also con-
solidated with that of the home once.
The statement of the Hartland
branch shows that the liabilities were
$S72044e of which amount $54 .Sl3.44
is savings deposits and s29.39o.SS Is
demand deposits. The resources are
divided as follows: OyerdraftS,
sss73; cash on deposit at home office.
ss450S21 : cash on hand, $2596.4s. This
statement is also consolidated with
that of the home Office.
The statement of the Dexter branch
shows that the liabilities are $4oS.-
39s07 of which amount S345.S34.66 is
savings deposits and s62,563.41 is de-
mand deposits The resources are di-
vided as follows: Overdrafts. S4S.4l;
cash on deposit at home office. 1896
323.41. cash on hand, s12.631.19. This
statement is also consolidated With
that of the home bank.