Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1921-12-27
Maine Trust Companies Estab-
fishing Branches and Agencies

Bank Commissioner Fred F. Law
renee stated Tuesday that a note
worthy feature of the development OF
Maine trust companies has been the
establishment of branches and agen-
cies in communities of comparatively
limited population and growth.
This has been exemplified during
the past year by the opening of six
i new branches and two agencies.
Whatever may be said with reference
to the general policy Of branch bank
ing, in state of the large area and
relatively limited population of
Maine, this is the only method
through which many communities
deserving of banking facilities can
safely be accommodated" said he.
ut is difficult to encourage thrift
without a reasonably accessible de-
pository for savings. In communi-
| ties affording sufficient volume of
| business and with substantial indica-
lions of permanent prosperity, the in
dependent institution may give great
! institution requires greater mini
mum volume of deposits to enable it
to carry its overhead and build up
surplus. 1t frequently happens that
a profitable field exists for the crea-
ton of a branch which would not
support new institution. In such
cases the resources of the parent
| bank are behind the venture and no
branches or agencies are authorized
except those of institutions whose re-
sources and earning capacity warrant
it. If a branch or agency SO estab-
lished should develop sufficient bust
ness it can later be taken over by an
/ independent institution.
The Brooks Branch of the Waldo
Trust Company of Belfast. to which a
certificate was issued on Sept 4, 1920
was opened for business on Dec. 1,
1920
Two branches of the Merrill Trust
Company of Bangor, one at Bucks
port and the other at Machias, were
authorized under certificate Of the
bank commissioner Jan. 4, 1921, and
both opened for business on Jan. 5,
1921. The Bucksport Branch took
over the business of the Bucksport
National Bank, and the Machias
Branch took over the business of the
Machias National Bank.
THE Harrison Branch of the Unit
ed States Trust Company of Portland
was authorized under certificate of
the bank commissioner issued April
on May ., 1921.
THE Camden Branch Of the Sc
curity Trust Company of Rockland
was authorized by certificate of the
bank commissioner issued Sept. %
| 1921. and the branch opened for bus
| mess on that date, having taken over
the assets and liabilities of the Me-
gunticook National Bank of Camden.
/ THE Island Falls branch of the
Katahdin Trust Company was au-
thorized under certificate issued by
the bank commissioner August J.,
1921, and the branch opened for bus
mess on Oct. 6, 1921.
THE WATERFORD Agency of the
Sanford Trust Company. which was
authorized under certificate dated
Oct. -, 1920, opened for business on
May ., 1921.
1.-THE Gastine Agency of the Waldo
Trust Company of Belfast was au-
thorized by certificate issued under
date of May TO- 1921, and opened for
business on the following day.
During the past year the capital
stock of the Merrill Trust company
Of Bangor was increased from $780,
coo to 100000, that of the United
States Trust Company of Portland
from 100000 to $15O.OO0 and that of
the Katahdin Trust Company of Pat
ten from $4,000 to $4,000"