Click image to open full size in new tab
Article Text
. partinent 128 institutions with bined assets of $154,720,813.17. including 49 savings banks, $97,705,409.04; 42 trust companies, $52,370,267.02: 37 loan and building associations, $4,645,137.11. The number of savings bank depositors, Oct. 28, 1911, was 225,801, number, Oct. 29, 1910, 230,934; average to each depositor, 1911: $396.34. 1910, $390.86: average rate of dividends paid, -JAID TO :18'8 'OIST :26'8 1911. dends paid, 1911, $3,326,545 64: 1910, $3,281,796.82; municipal tax, 1911, $31,555.92; municipal tax, 1910; $32.198.15; State tax, 1911, $455,934.47; State tax, '0I61 Since Oct. 29. 1910, three savings banks with combined deposits of $2,515,602.48 have been placed in liquidation and are not included in the statement for 1911. Deducting this amount from the total deposits, Oct. 29. 1910, leaves $87,750,137.18 as the deposits that date of the 49 banks now ported, as against $89,503,613.05, deposits in the saine banks, Oct. 28. 1911, showing an increase of $1.758 475.87 for the year. The average rate of dividends the past year was materially increased by the fact that the Saco and Biddeford Savings Institution increased its aggregate dividends for the year to five per cent and two of the banks now in liquidation paid but 3½ cent in 1910. Omitting the extra per cent paid by the Saco and Biddeford Savings Institution. this year, and making a comparison of the dividends paid by the 49 banks now ported. we find that these banks paid an average rate of 3.67 in 1910 and 1161 up People's Safe Deposit & Savings Bank. Of the People's Safe Deposit and Savings Bank of Bath the report says: A full statement of the causes which led to the closing of the People's Safe Deposit and Savings Bank of Bath on Nov. 28, 1910, and the subsequent appointment of the Bath Trust Co. receiver. is given in the last annual report of my predecessor. The report of the receiver made to this department Nov. 21, 1911,/contains a clear and concise statement of the progress made in the settlement of the affairs' of this bank, as follows: "The decree of court putting the bank into liquidation was made Dec. 27. 1910. and immediately upon its pointment and qualification, the ceiver took over all of the assets of the bank: said assets being carried on the books of the bank at the followvalues dug 91'026'299$ Bonds 00-028'9 Stooks 120,605.98 Loans, Mortgages Real Estate. 06/12/18 Stocks and Bonds 00982 Loans to Corporations Loans on Personal Property Real Estate Invested 9,300.00 Safes, Furniture and Fixtures. Cash on hand and on deposit The commissioners appointed by the court to receive and decide upon claims against the bank reported debts due to general creditors to the amount there which 01 addition u! JO was a loan due to the State National Bank of Boston, secured by collateral, of $5000, and accrued interest, which by express direction of the court was paid and the collateral taken up. The total amount due to depositors as reported by the Commissioners and allowed by the court is $741,673.39. Commissioners' fees and incidental expenses as allowed by the court were $1205.94 Loans secured by mortgages of real estate have been collected in to the amount of $94,155.98. Loans secured by collateral have been collected in to the amount of $29,663.90. Loans from corporations, without collateral, have been collected in to the amount $285. JO In May of the current year, upon representation by the receivers that had sufficient cash in hand for purpose, the court directed it to clare and pay a dividend of 33 1-3 cent, upon the deposit accounts as ported by the commissioners. At the date or this report there has actually paid out on account of such dividend $233,231.53. leaving in hands of the receiver for dividends unclaimed the sum of $13,992.76. Owing to the depressed condition of the bond market during the past year, the receiver, with the express proval, of the court, has proceeded with caution in converting the securities of the bank into cash, in order to avoid any undue shrinkage upon the original cost; but up to the date of this report there has been realized from such sales a total amount of $189,978.52. and there now remains in the hands of the receiver stocks, bonds and other securities owned by said bank, to the value, as shown upon the books of the bank at the time it put into liquidation, of $384,934.50. The receiver has made earnest effort to find a purchaser for the real estate of the bank, but up to the present time has been unable to obtain any offer which it considers adequate: but the entire building, with the exception of the former banking rooms, has been continuously occupied, yielding rental of $1,399.92 per annum. Dexter Savings Bank. On Jan. 19, 1911, the bank commissioner and all of the trustees of the Dexter Savings Bank, being of the opinion that it was inexpedient to continue the further prosecution of the
