Daily Kennebec journal., 1912-02-10


with the Governor and Council, shows
now under the supervision of the de-
partinent f2S institutions with COM
bined assets of sl54 720, S13.17, including
40 savings banks, s97, 7o5, 4o9.04; AZ trust
companies, So. 1870, ,267s12; 81 loan and
building associations, $3.50, 18Th.
The number of savings bank depos-
itors, Oct. 2S, 1911, was 5,S01, num-
ber, Oct. 29, 1910, 290,994; average TO
each depositor 1911; $396.34 1910,
SO; averag ge rate of dividends paid,
1911, 3.s2 1910, S.Sl; amount of divi-
dends paid, 1911, S3,326, ,545 Cd 1910,
s3.2s1. 1862; municipal tax 1911. $31,
5559a; municipal tax, 1910; s32. 1875;
State tax, 1911, s455. 5.9S4.47; State tax,
1910, $469. .021.33.
Since Oct. 90. 1910. three savings
banks with combined deposits of
s2,515, COS. As have been placed in liquida
tion and are not included in the state
ment for 1911. Deducting this amount
from the total deposits, Oct. %. 1910,
leaves $s7.750 1878 as the deposits on
that date Of the 40 banks now re-
ported, rs against sS9, ,5o3. .6l3.05. deposits
in The same banks Oct. 2S, 1911, show
ing an increase of s1.75S, 475S7 for the
year @s e # -
The average rate nf. dividends the
past. year was materially increased
by the fact that the Saco and Bidde-
ford Savings Institution increased its
aggregate dividends for the year to
five per cent and two of the banks
now in liquidation paid but 31s per
cent in 1910. omitting the extra one
per cent paid by the saco and Bidde-
gt..-- I1-t tl.Ss
end making a comparison OF the divi
dends paid by the 40 banks now re
ported. we find that these banks paid
an average rate of 367 in 1919 and 3.SS
in 1911.
Peoples Safe Deposit & Savings Bank.
OF the Peoples Safe Deposit and Saw
ings Bank of Bath the report says:
A full statement of the causes which
led to the closing of the Peoples Safe
Deposit and Savings Bank Of Bath
on Nov. rs, 1919, and the subsequent
appointment of the Bath Trust Co. as
receiver, Is given in the last annual re-
port of my predecessor.
The report of the receiver made to
this department Nov. q. 1911. contains
a clear and concise statement of the
progress made in the settlement of
the affairs of this bank. as follows;
sThe decree of court putting the
bank into liquidation was made Dec.
q, 1910, and immediately upon its ap-
peintment and qualification. the re-
ceiyer took over all of the assets of
the bank: said assets being carried
on the hooks of the bank at the follow
ing values:
pa, ssr- a-o x
Loans, Mortgages RearSEstate. 120.6o5- -ss
Stocks and Bonds ............... S1,i.l 80 80
Loans TO Corporations .......... 1910
Loans on Personal Property l0,16l 90
Real Estate Invested ...,........ 2o2l5.lo
Safes Furniture and Fixtures. 10000
Cash on hand and on deposit lo,223. Is
The commissioners appointed by the
court to receive and decide upon all
claims against the bank reported debts
due 20 general creditors to the amount
Of s2,S213S, in addition to which there
was a loan due to the State National
Bank of Boston. secured by collateral,
of 5000, and accrued interest, which
by express direction of the court was
paid and the collateral taken up.
The total amount due to depositors
as reported by the Commissioners and
allowed by the court is $I41,6lS.S9.
Commissioners fees and Incidental
expenses as allowed by the court We're
$l205.9
Loans secured by mortgages of real
estate have been collected in to the
amount of S94,l55.es. Loans secured
by collateral have been collected in TO
the amount of $29, $3.50. Loans due
from corporations. without collateral,
have been collected in to the amount
of s2S5.
In MAY of the current year. upon
representation by the receivers that 1t
had saiiiicient cash in hand for sueh
purpose. the court directed it to de-
clare and pay a dividend of 80 la per
cent anon the deposit accounts as re-
ported. by the commissioners. AT the
date OF this report there has been
actually paid out on account of such
dividend 1928, 231.5s leaving in the
hands of the receiver for dividends stlii
unclaimed the sum of $lS,s92.16.
Owing to the depressed condition of
the bond market during the past year.
the receiver. with the express ap :,
provalF of the court has proceeueu
with oaution in converting the securi-
ties of. the bank into cash, in order 10
avoid any undue shrinkage upon ohe
original cost: but up TO the GATE oil
this report there has been reaiized
from such sales a total amount OF
$1S9,97&52, and there now remains in
the hands of the receiver stocks, bonds
and other securities owned by said
bank to the value, as shown upon the
books of the bank at the time it was
put into liquidation, of s4,934.5o.
The receiver has made earnest effort
to find a purchaser for the real estate
of the bank, but up to the present
time has been unable to obtain any Of
fer which it considers adequate but
the entire building. with the exception
of the former banking rooms, has been
continuously occupied. yielding a
rental of $1,399.92 per annum.
Dexter Savings Bank.
On Jan. 19, 1911, the bank commits
sioner and all of the trustees of the
Dexter Savings Bank, being of the
opinion that it was inexpedient to