Daily Kennebec journal., 1912-02-10
ANNUAL REPORT OF The
STATE BANK COMMISSIONER
Shows 40 Savings Banks, AZ Trust Com
panies and 81 Loan and Building Ass'ns
Progress in Settlement of Affairs OF
Waterville Trust Co.==The Summary.

the Dexter Trust and Banking Co.
when chartered, in consideration of the
written agreement of said company to
pay and cancel, or take an assignment
of, all claims against said bank in
cluding all expenses of liquidation in
full at any time after June /, 1911,
with interest on al. claims other than
deposits, and with interest at the rate
of three and one-half per cent per
annum for the six months ending July
1, 1911, on all such deposits as should
not be withdrawn or claimed before
July /, 1911. The performance of this
agreement by the Dexter Trust and
Banking Co. was secured by a bond in
the penal sum of 100000.
.The-Dexter, Trust and Banking Co.
was organized Feb. g. 1911, and subse-
ouently took over the assets of said
savings bank and paid. or took an as
signment of, all liabilities of said bank
in accordance with the terms of said
agreement. This was all done under
the supervision of my predecessor and
much credit is due him for ac-
oomplishing the liquidation of this
bank without the loss of dollar of
principal or interest to any depositor.
Saco Savings Bank.
Commissioner Dunton in comment
ing upon the report of the receivers of
the Saco Savings Bank says: 1t ap-
pears that the receivers have on de-
posit sufficient cash to pay the de-
positors a dividend of 20 per cent. and
| am assured that they will make an
application to the court for authority
to pay such dividend in the very near
future.
Trust Companies.
Two trust companies with capital
stock of $50,oG0 each have been organ
lied under the general law during the
past year making the total number of
trust companies nov doing business in
the State, AZ.
The Dexter Trust and Banking Co.
incorporated Feb. s, 1911, commenced
business May l, 1911, and the Skowhe-
gan Trust Co. incorporated Feb. %,
1911, commenced business March Is,
1911.
The Rumford Falls Trust Co. has es
tablished a branch at Dixfield and the
Eastern Trust and Banking Co. has
| tSidUllSiltu ii i1tSlti SiiN'
the last annual report Of the bank
commissioner.
The number of depositors having
savings deposits in trust companies in
1911 is 77,73S. against 69,s17 in 1910;
number of depositors demand deposits.
1911. 35.7a7; 1910, 31.125; number of
depositors. certificates of deposits,
1911, 2040; 1910, 1858: total depositors.
1911, 115.575; 1910, 102,620; amount of
dividends on stock, 1911, S309,1 ,165;
1910, S270,2 ,240; interest paid on saw
ings deposits, 1911, 1923, ,16S02; 1910,
S705.244.S7: amount of interest paid on
demand deposits, 1911. 1924. .2S9.9S;
1910, s215,605.7S; total profits dis
tributed, 1911, s1,S66,623; 1910,
1,191 ,090.e0; average rate of interest
on savings deposits, 1911, 3.63; 1910,
361. average rate of dividends on
stock, 1911, 9.26; 1910. S.S4:
OF the AZ trust companies in the
State, seven reported no overdraft
october 2S, 1911. All should be able
to make this report next October 1t
is more difficult to draw the line be-
tween customers and limit the amount
il overdrafts are permitted, than it is
to establish and maintain hard and
fast rule that no customer shall be
permitted To overdraw his account un-
der any circumstances.