Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-03-01
Of Bank Commissioner
Shelton for Year 1909
Showing Conditions Of Savings
Banks, Trust Companies, Etc.
History Of the WatervilIe Trust
Company Case.

third annual report of the State bank
ing institutions have been given out
by the bank commissioner.
This covers the period ending Nov.
80, 1909, and contains the usual in
troductory tabulations and analyses,
followed by detailed statements of the
conditions OF the several institutions
at the dates of their respective Of
fetal examinations, and tabulation of
their condition as shown by the semi
annual reports of Oct. 80, 1909. and
the sem-annual revision of the State
banking laws.
There are 127 institutions under the
supervision of this department, with
total assests of s144,S87. 42990, dis
tributed as follows:
3d. Savings Banks. 500, 254, 5S3 q
40 Trust Companies. 44,547 ,034 q
35, Loan and Building As
sociations, 4,oS,Sll -
127. Total, $l44.S ,429a
"The gain this year has been $4.25l.-
56S.53 against s4,251, 54S.5S for the
preceding year. All the gain in re-
sources of national banks amounting
to $32l6251.7J as shown in the table
and we have a tota! gain of banking
assests in the State of S1.46I. S2o2f'
whereas during the previous year the
total gain was only s4.424.l96.22.
In preparing the fluctuations for
the year just closed. We have de-
Quoted from the undivided profits the
amounts of the several expense ac-
counts hitherto carried as resources
thus making the items of UNDIVIDED
profits for each class of institutions
the net amount. These expense items
for the preceding year were S4b.49S.5s
for savings banks. 800. SO for trust
companies, and s564l.33 for loan and
building associations, making a total
or S142 2t2.34, which should be added
to the foregoing totals to show the
actual comparative gains
NATIONAL BANKS.
During the past year, for the first
time the comptroller of the currency
has required that the official reports
of national banks show the amount of
savings deposits carried. The state
ment for November 18th, dscloses
deposits of this class in the national
banks of this state amounting to s14.-
719,635.42. or Ais per cent. of the total
individual deposits held. The extent
to which this class Of banks has en-
tered this field in Maine is particular
ly noticeable when one considers that
in all New England. including Maine.
these savings deposits aggregated only
$34, 26S.17O.S2, out of total individual
deposits of $452.900.919.S2. In other
words. the national banks OF Maine
are paying savings bank rates on AIS
per cent. of the en'irc amount of their
individual deposits, while the national
banks Of all New England, including
Maine, pay such rates on only rs pei
cent"
The combined statement of the liza =
bilities and resources of the savings
banks show total deposits amounting
to $SS 7o2766
This indicates an increase in dc,
posits of s2.425.6l6.75 or 2.Sl per cent
against s74S.9s3.34. or .sS per cent
during the preceding year. The re-
serve fund was increased l.6 per cent
or $86,4349S. and there is an Actua
gain of $2S19462. disclosed.
The estimated value of resources
above liabilities is given as $10.4l0,-
643.24, an increase over the preceding
year of $444.90s.SS, The average rate
OF dividends paid by the savings bank
for 1909, is 800 per cent. against SO.
per cent. for the preceding year. II
this connection the report goes on t
say:
This table shows a slight decline il
the average rate of dividends paid. L
is altogether probable that the rcpor
for the coming year will show an ever
greater decrease. although it will not
be large.
This is clearly in the interest OF
sound banking. and should be APP
proved by the public. whose first in
terest lies in safety of the principal
When the banking institutions of the
state absorb. III one and One-hali
days, approximately one and one hall
millions of bonds on 1888 per cent
basis-as was done in the case of the
Portland Water District issue--it is
clear that financierS recognize a very
wide difference between securities OF
that class and those of a class which
net per cent. to the depositor after
paying all charges.
1.-The trend toward a rate of divi-
dend that will permit the purchase OF
a superior class of securities has beer
rather marked during the past few
months. The most notable single in
stance is the announcement recently
made by the Bowery Savings bank of
New York city. holding about $12O, OOO
of deposits. of return to 49, per
cent" 81,
The following summary of deposits
earnings. dividends and expenditures
of the savings banks for the year, is
given:
Deposits. October 81, 1903. SS6 1871 40 81
Deposits October 80. 1902 $3.50, Oo7 60
Average deposits for the year. S1,34 219 %
Gross income. ABS, POI o.
Dividends paid, $;.26S 3S9 Il
Municipal tax. 29.727 O;
State tax, Al. 173 Z;
Annual expenses. 6.S160l
Increase of reserve fund. Sc. 349t
Increase of undivided prohts
(see page viD 2S. 1874. 6:
Decrease of premium account. 12069. s;
Per cent 1909 1901
Average rate of dividend. $50 So
Gross income to average de-
posts. 4M OF
Annual expenses to average de-
posits. y =
state tax to average deposits, AS 4.6