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bank commissioners, Fred P. The and Norris S. Lippitt, have governor just Holt in the hands of the savings placed annual report, covering savings their trust companies having 1913, departments banks, both as of Oct. statements 1, with the annual companies, together of the state banks and trust close of their condition at the date of business showing on Aug. 9, 1913, the the last call. 3 1-3 Per Cent. Gain. total amount on deposit in all The banks under the jurisdiction was of the this department on Oct. 1, 1912, 1913. was $344,994,319.37, and on Oct. 1. $356,870,739.05, a gain of $11,876,419.68, 3 1-3 per cent. in total deposits, the or which shows a healthy condition, report says. Regarding Banks Closed. Regarding financial institutions towards which the bank commissionhave found it necessary to exercise et's their powers in restraining continuance reof business, the commissioners port: The Windham County Savings bank, which was under a restraining order at the time of our last annual report, the continued in this condition until time when, acting with the approval to of the attorney general, we asked have a receiver appointed to wind up in its affairs. The case was delayed the court, not coming to trial until the Sept. 22. 1913. During the trial counsel for the bank offered to bring about an immediate and complete change in the management of the dis- institution and we were glad to continue the suit and thus save This the institution to the community, change in management has taken place. We are, therefore, gratified to report that the outlook for this bank is very bright. Greenwich Savings Bank. Late in the year we found the depositors' ledgers in the Greenwich Savings bank in such a tangled condition that we were unable to arrive at a correct total of its deposits. Under these circumstances we could not have allowed a dividend to be declared in January. We realized that, if the dividend were passed and heavy withdrawals made, an injustice would be done to as failed to It best for all to close the such therefore. We deemed depositors institution concerned, withdraw. thorough and take possession of it until a audit should reveal its exact condition. This audit is now being made by com- be petent accountants. We hope to able to report the bank solvent and return it to its directors in a few weeks. Thames Loan and Trust. The Thames Loan and Trust comof Norwich was closed on our motion pany on April 16th. Later a receiver was appointed who is now settling its affairs. Its condition had given us much concern for a considerable period before it seemed necessary to close it. In accordance with Chapter 79, Public Acts 1913, we notified the Columbia Trust company of Middletown on May 28th that an impairment of its capital must be made good by August 1. 1913. On August 2d, the trustees voted to terminate its corporate existence and it is now being liquidated under authority of the superior court. Putnam Savings Bank, On December 29th the assets of the Putnam Savings bank were found to be insufficient to meet its liabilities so that we, acting in concert with the counsel of the bank, issued an order restraining the bank from receiving deposits or paying out funds. The bank has an earning power of approximately $120,000 gross per annum. We hope, therefore, that it will be able to resume before any serious inconvenience results. Under former conditions the powers of the commissioners were exceedingly limited, but the legislature of 1913 extended their powers to a degree where it has been found possible to remedy intolerable conditions. It is a source of regret that for the protection of the depositors we have found it necessary to use these powers