Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1916-01-15
$1,52,000.0O

of 1915. 500. 000. 90
sl,522,ooo.o 90
TEMPORARY LOAN.
No temporary loan was made in. 1915,
and none exists.
STATE REPOSITORIES.
This Department has given no little
thought to the distribution Of State
funds. During the year accounts were
kept with more than 100 banks. repre-
senting all sections of the State. At the
close Of the year the Department was
using 50 State repositories. This is by
far the record number of banks carry
ing State deposits at any. one time. and
includes. with one exception. every town
and city in the State having either ma
tional bank or a trust and banking COM
pany. The monthly BALANCES have been
large during the year. and this wide dis
tribution Of State funds has been Of ma
terial benefit to the commercial and in
dustrial life Of our communities.
A quarter Of million dollars Of the
States surplus funds Is distributed on
time certificates among Is banks. at the
interest rate of four per cent. The State
has also received two and one-half per
cent. on daily balances on all its funds
subject to check.
The Department has been efllcientiy
served by Ave active banks, through
whose channels has been transacted the
large and increasing volume of the pub
The Portland NATIONAL Bank Of Portland
the Lewiston Trust Company of Lewis
ton. the State Trust Company Of Angus
ia. the Eastern Trust & Banking Com
pany Of Bangor r.t
In addition to the interest rate of az
on. daily balances, these Ave active banks
have paid for all the checks.
The remaining "a banks carry reserve
deposits subject to check.
The interest on all bank deposits for
the year amounted to $30,6s0.73. being 3d..
$3.50 in excess Of the large interest ac-
count Of 1914. A. part Of this increase is
due to the rigid checking up Of interes,
balances with the several banks and the
demand for a uniform rate.
CORPORATE FRANCHISE TAX.
(sec. 10, Chap. 8. R. s. as amended by
Chap. 1s5, Public Laws 1907.
Corporate Franchise taxes provide q
source Of revenue. too important to pass
without. comment, the amount collected
in 1915 being 1924, l20.
Since 1902, as is shown by the records
in the Treasurer's ofiicc. the State has
lost on account Of uneoilected franchise
taxes the large sum Of $s2S6s4.
BY special effort Of this department and
the earnest cooperation of the attor.
ney generals Office, collection Of these
! franchise taxes during 1915 exceeds the
amount collected during the preceding
year by more than $4,000. The 1915 col
lection of this tax in arrears exceeded
that of any previous year by more thar
| $4,000, and was in excess of the ccllec.
/ lions Of overdue taxes during 1874 b,
about sl5.ooe.
| Since September !, 1915, without direc.
ton Of law, this department mailed more
than $500 special notices to delinquent
corporations. The returns from this ex.
ira effort convince rue that these take:
can be collected with a minimum of loss
! These corporations. existing by virtue o.
| our Maine laws. should pay. and l be
lieve can be made to pay this tax.
TRUST FUNDS.
AS formerly listed. the Trust funds o.
the State amount to $l,6Ss.276.a4. Thes,
funds. however. have been divided. ant
herewith are scheduled as Trust fund.-
and Trust Deposits. The Trust Funds
aggregate @1,446,oe1.45. The Trust De
posits, in the main comprising securities
| deposited by insurance companies, tota
| 319C,NASs.
| STATE TAXES.
Total commitment, 1884, S
Assessed against cities and
! towns, 2.25o.A2s
Assessed against wild lands, {244oss 3
state Tax Of cities and towns
State Tax assessed against
wild lands unpaid. s.3s.s
Total unpaid taxes. ,ss.n2.5
| SCHOOL, FUNDS. :.
Total school funds apportioned. s1.ss.es2.7
School funds distributed, 1,462, $3.50
ment Of State taxes. ,s2es5.7
Governor Curtis left the city Frida,
noon bound for the Third District Demo
cratic get-together in Bangor.
L
Nominations by the oovssner
Justices Of the Peace-Edwin; H. Car
ter. Bangor: William II. Gill, Portland
Notaries Puhlic-Alton p. Reed
Bath; Charles J. Bennett. Portland; A
| D. McFaul, Machias; Harry G. Deer