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lies in the hope that Congress will permit them to organize as national banks. When the last annual report was made there was a deficiency in the outstanding claims against the American Bank of Hallowell of $31,290, and to meet this claim the the Supreme Judicial Court assessed the stockholders of the bank $42 on each share held at the time of the injunction, and ordered a bill in equity to be brought by the Receivers to recover the amount. The bill is now pending in the courts. There is now a balance in the hands of the Receivers of $17,685 39. The assessment on 446 shares remain unpaid; on 130 of which it is unavailable from bankruptcy, &c., and a large number of the remaining shares are held out of the State and the assessment uncollectable. The sum now on hand will pay about 57 cents on the dollar of the original claim, exclusive of interest. The other State banks have so nearly wound up their affairs that the public have no interest in them. The Examiner deems the present system of national banks as vastly superior to State institutions. He believes that a return to specie payments and the necessary adoption of some system of redemption of bank notes, would revive the old trouble incident thereto with which all bankers under the old system are but too familiar, and put into the hands of the "money changers" the power to create panics and clog the wheels of business, a state of things which cannot be accomplished under the present system. The banks of discount in the State are Eastern, Mercantile, and Veazie banks of Bangor, and Lime Rock and North banks of Rockland. Since the last annual report, seven new savings banks, chartered in 1868-70-71, have been organized and commenced business: Camden Savings Bank, Camden. Hartiand Savings Bank, Hartland. Fairfield Savings Bank Kendall,s Mills. Kennebunk Savings Banks, Kennebunk. Pembroke Savings Bank, Pembroke. Phillips Savings Bank, Phillips. Richmond Savings Bank, Richmond. The Lumberman's Savings Bank at Oldtown has closed business. At this date 49 savings banks are doing business in the State. with deposits, including reserve and profits, amounting to $22,787,802 45, against $16,597,888 78 last year. Accordingly there is a gain in de- posits since last year of $6,189,913 67 The increase of depositors, 15,256 The average to each depositor is, $328 30 An increase in one year of 21 81 The number of depositors who have balance less than $500, is 57,564 The amount of the same is 8.243.996 00 An average to each depositor of 146 69 The number of depositors who have bal- ances of $500 and over, and less than $1000 is 6,838 The number with balances exceeding $1000 is 5,009 The amount of such deposits, 14.543,804 00 Averaging to each depositor 1,220 00 Dividends averaging a fraction less than 7 per cent, that have been paid during the year, amounting to 1,152,195 85 While the income from governments and bonds of first class cities and towns gave from seven to nine per cent., banks had no difficulty in making large dividends safely. But such is not the case. The earnings of some few banks are now insufficient, after paying the established dividends, to carry the legal amount to reserve. "The result of such a course," says the Examiner, "will be a tendency to invest in that class of securities which promises high rates, the payment of which depends upon a problematical income-a class of securities in which the money of legitimate savings bank depositors should never be invested. There is a very general feeling, and an expressed desire on the part of the managers of these institutions, that the rate of dividends should be reduced, but owing to local pride, competition, and a want of concert of action, it has not been accomplished. As a remedy for this state of things, and as a measure of safety, there should be a reduction in the rate of dividends to be paid, and if no other way by a law of the State, limiting regular semi-annual dividends to six per cent. per annum, with such extra dividends as could be paid from the surplus earnings, once in five years, thus rendering it practicable to invest in safe securities the income of which is based on actual property." The Examiner says that equity and the best interests of the banks demand that a State tax be imposed upon savings banks. The tax of one-half of one per cent. per annum, required to be paid to the Government, does not fall where it was intended, and there is no good reason why it should be longer continued. The reserve fund should be. guarded with great care, and the semi-annual examinations by the Trustees should be thorough and searching. The practice of some institutions, where connected with national or State banks, of having the Trustees and Directors the same, is considered by the Examiner of doubtful policy. For the Family-The Standard Goods.-
