Norwich bulletin., 1916-03-02
BANK COMMISSION
 NEEDS MORE HELP.
Annual Report Says Consolidation
 Makes Assistants Necessary.

The annual report Of Bank Commis- sioner Everett J. Sturges has been sent | to Gov. Marcus H. Holcomb. It gives a comprehensive view of the banks under state control, which includes, of course, national banks. Statements as of Sept. 2. 1915, financial condition of every savings bank, trust company, loan and investment corporation in the state are given, with carefully pre- pared tables which give in consolidated form basis for easy comparison
 Assets of savings banks have in- creased $S,923,57s since the last re- port. State banks and trust compa- nies have increased assets S10,663,765 since the last report Reference Is made to the affairs of several banks which have been in financial difficulty, and the main report closes with the recommendation that more bank exam iners be added to care for the increase in work caused by the consolidation of the bank commissioners depart ment with that of the building and loan commissioner.
 Four banks paid per cent. divi- dends amounting to $7a,s44.17. Sew enty-four banks paid out $11, SIT, 929. .52 in dividends at the rate of per cent. Two banks paid at the rate of 1-2 per cent. S55, ,443.s2 in dividends. One bank | paid no dividends.
 Receipts snd Disbursements.
 Receipts and disbursements of the | income account were as follows: In terest and profit and loss per last re- during the eyear, s16,01s,024.12: other credits, s127 ,990.41: total, S2a, a,2sO, ,267.02. Expenses, ss3s, ,314.94; state tax, $685. | 350.0T; town and city taxes and assess ments. s63.760.s6; premiums charged of, S7s5,616; other amounts charged off, s7s5. 5.72s.S4; dividends, s12,047 217.- | 51; net amount carried to surplus, | 12,304.63; interest and profit and loss per this report, S7,3ss.sT4.67; total. | S23, ,2S0. .267.02.
 The report shows that on Oct 1, 1915
 there were 542,371 depositors, each having a deposit of less than S1,000 having s110, ,23e.44 to their credit There were 630,4s5 such deposltors 6
 year before. Depositors having between
 s1.ooo and S2,O0o to their credit num-
 sS2. .767, ,7s0.31 to their credit. An in-
 crease of e73 was shown in this class
 of depositors. Accounts of between
 S2,00O and S10,000 numbered 34,613.witt
 total deposits of $11s,424. 7os.21. There
 was an increase of LAO In depositorE
 of this class. Depositors having more than S10.OO0 to their credit numbered 574, an increase of 26 over last year with a total of S7,5ss, 414.S1 in deposits
 Big Increase of DePositors.
 The total number of depositors 1. shown to be s3s.655, an increase ot showed shove % a total of ssao. .sso. .os27s. aI ; increase of 617.os1.65. The average
 amount due deposItors was s5o1.a5
 were opened and 71,564 account closed. The years dividends showed . a total of $12.407,2 ,217.51. Expenses. in cluding salaries, amounted to $S3s,'
 314.s4: The state tax amounted t' r New Banks opened included tn American Bank and Trust Go. of Nev . Haven, Chester Trust Co.,, of Chester . Commercial Trust Co.,, of Now Brit ] ain, Danielson Trust Co.,, of Daniel 2 son, East Hampton Bank and Trus T 2 Co.,, of East Hampton, Killingly Trus ! Co.,, of Danielson and the Stratfor 2 Trust Go. of Stratford. The Ne1 Britain bank has 0 s1oo,0oo capita |. the New Haven bank s76,ooo, tn : Stratford bank and Danielson Trus ! Co.,, $50, 1000 each and the others hay ? capital of S25,000 each. The Manches 2 ter Trust Co.,, of South Mnncheste increased its capital stock to S50,Oo n during the year. The City bank C 2 New Haven was consolidated wNl : the New Haven bank.
 g Six Reports During Year. z In closing, the report says: Six reports were called for durin 7 the year as required by Section s41
 
 z ton at the close of business Oct. 8 T 1915; May l, 1913; June 2s, 1915; an II Sept 2, 1915 ;the dates being th
 same as those upon which the comp :. troller of the currency called for re ports of the national banks.
 e Consultations during the year wer = as follows: The Windham Count II Savings Bank with the Brooklyn Say e ings bank of Danielson; City Banl Y New Haven, with the New Have II bank, N. B. A.
 New banks are in process of organ IT zation at East Hartford, Plainvill u Moosup and Wallingford.
 In consideration of the character U investments in savings banks 1t vi ,o be noticed that municipal bonds hay 10 increased about s2,732, ,000. Industrii
 bonds have increased about $1, ,562, ,OO
 Real estate loans have increased aboI l. S5,911, ,000. Railroad bonds have de "a creased about S1,950, 900.
 .e The Putnam Savings bank has nt T. been able to open for business up /; the present date, but its affairs wi d be given careful attention by the dt 70 partment, and the officials of tf