Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-10-11

The decree was as follows:
In re Petition of Charles H. Prescott,
ct ais, Trustees, York County Saw
incs Benk,, and the Bank Commits
sioner:
Whereas, the foregoing petition has
been presented to the court at the pres
ent term, and time for the eXamina-
tiGn of the affairs of said corporation
duly appointed, as prayed for. and
whereas due notice thereon of the time
and place of the intended examination
thereof has been duly given to all par
ties interested therein, pursuant to the
foregoing order. and. upon examination
of the assets and liabilities of said in
stitutiOn, and from other evidence in
tr0duced at the time and place APP
pointed by said order for said exami
nation, and being satisfied of the facts
set forth in said petition. and that said
corporation has not exceeded its pow
erS nor failed to comply with any OF
the rules. restrictions and conditions
provided by law, and finding the actual
liabilities of said institution to be ST.
535, 237.69. consisting of amount due de-
positOrs $1.531. 65092, and other liabili-
ties amounting to $35S617, and the par
value of the assets to be S1.266,6 21.41 as
appears by the books of said corpora
tor. and estimating the value of said
assets as available at the sum of ST.
234,256.4l, as per condensed report Of
committee and schedule of bonds ana
stock filed herewith. less the further
sum of $43,640.77 to wit at the sum of
81, 1a0,615.64 and the loss on, and by de-
probation of the value of the same at
s344,621.45. and deeming it for the in
terest of the depositors in said insti-
tuition and the public;
1t is therefore decreed, in order to
divide such loss pro rata among said
depositors, thereby rendering the said
corporation solvent so that it's further
proceedings shall not be hazardous to
the public. or those having or placing
funds in it's custody. that the deposit
account of each of said depostors. be
and is hereby reduced to 771s per cent.
of the amount due on the same, which
is the sum fixed by the court that may
be drawn from said corporation in con-
fornity to law. and that no larger
sum shall be withdrawn from said in
stitrticn until further decree of court.
Ard it is further decreed and order
ed that the treasurer of said corpora
ton and his successors, enter the as
sets IF said corporation on it's books at
the respective values thereof shown in
said condensed'report and schedule and
enter the amount representing the diff
ference in the total of said values so
entered and the actual total amount
due depositors after their several ac-
counts shall have been reduced as
aforesaid as a special reserve fund to
which shall be added all sums received
by said institution from the principal
atoms as thus entered upon its books
ard from which shall be deducted all
further losses thereon. which said spe-
cial reserve fund shall at all times be
maintained for the benefit of the depos-
itors whose accounts are reduced as
aforesaid, to be kept accounted for and
distributed as hereinafter provided;
and that he and they keep an accu-
rate account of all sums hereafter re-
ceived by said institution for The as
sets of the corporation held by it at
the time of fling the aforesaid petition.
and if a larger sum shall be realized
therefrOm than the value estimated as
aforesaid by the court to render at
such time or times as the court may
prescribe, true account thereof that
the court may thereupon, after due
notice thereof to all parties interested,
excess among the depostors of said
Institution at the time of filing the
aforesaid petition.