Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1911-02-23

Capital stock OF 20 trust companies. De-
ceinber 81, 1910, 81. 5000
Savings deposits Of Il mutual banks.
December 81. 1910, $40, 779. 1920; increase
over June 30, 1870. f&7.V75.55.
Savings deposits of trust companies.
December 81. 1910, s29. SIC. 800. Sc; |ncreos.
over June so. 1910. sos. 1874
commercial deposits of mutual banks,
December 81, 1910, $50 565. IS; decrease be-
low June 50, 1910, N.&s.s4
Commercial deposits of trust companies
December 81, 1910, s.. @s. 607. rs; increase
over June 80, 1910, slll, 62j.97.
Surplus ana profits. December 81. 1910
E4'aSs, 1886; increase over June 80. 1910
t3s7. 49,. IS.
Miscellaneous liabilities, December 81
1910, S62, 1851; decrease below June 80
1910, s27l, 1928.
Total liabilities. 81, 23l, % 1922: net in
crease, 81, $50, col. 80.
Accrued interest is not computed IN the
above abstract. The last LEGISLATURE
amended the law so as to eliminate uc-
crued interest in computing surplus.
CHANGES IN BANKING LAWS.
The following are some Of the changes
made in the banking laws by the last
legislature:
me local tax upon the excess Of 81. cbl
Of individual deposits was repealed and
the limit Of individual deposits was re-
moved as to al! State banks.
The local tax upon funds and securities.
held in trust by trust companies by order
" court or otherwise. was repealed.
Mortgages on resi estate in IN adioin-
ina sn, .r,.L!. q "a -t
making them, may be trea. ed as Yer
mont loans.
Mortgage loans on real estate may be
made to a person, partnership or corpora
ton, creating loans to each partner a
loans TO the partnership to the amount
OF $4,000, and may be Increased one uer
cent. of the deposits in excess of 81. 00D.-
5000.
Railroad bonds which comply with GER
tain requirements of the act are made
legal Investments for banks. and the
commissions Is req ed to certify those
which meet these requirements. which
Will he done as soon as POSSIBLE.
Investment is allowed in stocks of
national banks in me New England
states, and the State of New York.
ard in banking associations and trust
companies Of tins State: but no bank
shall hold bank stock both by way Of
Investment and as security for loans.
in excess OF 10 per cent. of It's de-
posts, nor in any one hank more
than i've per cent. of it's deposits or
more than S3b,0 0o or more than 10
per cent of the capital stock OF any
one bank,
\ hank may deposit on call in bank
ing associations or trust companies APP
proved by the bank commissioner OF
this State and under the supervision
OF the state or federal authority, in
this state or in the cities Of New York.
Boston, Chicago, Albany, Philadelphia,
or Concord, y. H.. or in a~Y other banl,
designated as Il depository under tho
law Of the United States. or in ma
tional banks in the cities of st, Paul,
Minneapolis and Kansas city. with or
without interest as may he agreed
upon. sums not to exceed in the ag.
gregate 90 per cent. of the assets OF
such depositinE banks.
Loans may he made on personal Sc
curity with two approved names OF
persons resident in the site, or with
in so miles OF the bank making the
loan; but not more than one-third OF
the assets OF the bank shall be in
In such loans and personal
with collateral security; nor
shall "A bank loan to any person, part
nership, association or corporation
personal security. creating
Ioans to individual members OF a part
nership as loans to the par nership), |
more than $4,000, until a banks de
posts amount TO n million dollars, |
after which the sums so loaned may
pc increased one per cent of the de.
posits in excess Of one million dol
.ars, up 10, but not exceeding $50, 900.
Or, in cases where 10 per cent. of the |
-apital and surplus exceed $50, 900, up
but not exceeding 10 per cent. of
he capital, II any, and surplus; but
his limitation does not apply to
.oans secured by municipal or rail !
cad bonds.
Tie committee on hanks reported an
amendment to tie commission bill, which /