That the amount of bills which said bank has actually had in circulation, as appears by the semi-annual returns of said bank. worn to by the cashier and directors thereof, is as follows: 1-15, June, $53,001 Excess, $3,001 The circulation of the bills of said bank, as appears by the reports of the bank commissioners, for several years past, was as follows: 1814, bills in circulation, $90,635 Excess, $40,635 There was no evidence or statement before the committee, tending to show that the circulation of this bank had been at any time less than the amount stated in their semi-annual returns. That the rate of dividends of this bank appears to have been six per cent. per annum for several years past. From the last report of the bank commissioners, it appears that there were twelve stockholders in said bank, but by the list of stockholders returned to and published by the secretary of state, in January 1847, there appears to be but ten stockholders. Beside the bank itself-which is set down as holding twenty-four thousand, three hundred dollars, ($24,300,) of its own stock-the cashier stated that the surplus profits of the bank had been invested in the stock of the bank, instead of being divided among the stockholders. So that said bank appears to have a capital stock of $75,700 only, actually paid in, instead of the sum of $100,000, on which said bank appears to have based its business and circulation. From the statements of the cashier and of other gentlemen, it appears that the bank is perfectly solvent, and that no apprehension of loss need be entertained by the bill holders, or other creditors of said bank. In view of these facts, showing a continued violation of the laws to the manifest injury of all the other banking institutions of the state, which conduct their affairs in strict accordance with the laws, the committee would have felt justified in reporting and recommending the passage of an act for the repeal of the charter of this bank, as the immediate and most certain corrective for these, and similar violations of law, by some of the other banks in the state. But in consideration of the small amount of banking capital in the vicinity of the location of said bank, and the wants and wishes of the business men in that vicinity, and of the provisions of the law, passed by the last legislature, in relation to banks and banking, and which is to take effect and be in force on and after the first of October, 1847-your committee forbear to recommend the repeal of the charter of said bank at this time, confidently believing that the officers, whose duty it will be to see that the provisions of said act are enforced, will be prompt to detect, and certain to punish, all violations of the same. WILLIAM GOODENOW, Chairman. STATE OF MAINE. HOUSE OF REPRESENTATIVES, July 7, 1847. ORDERED, That 500 copies of the foregoing report, be printed for the use of the Legislature. SAMUEL BELCHER, Clerk. In compliance with their order of the 30th ult., I have the honor to lay before the house copies of the accounts that have been audited and allowed by the governor and council under the act of the last legislature, for aiding in the prosecution of the war with Mexico. The names of the agents appointed to disburse the bounty to volunteers, with the amount of the warrants drawn in their favor for that purpose, are as follows, viz: John S. Chadwick, for companies A, F, and H, $1,165 735 380 385 385 385 415 EZRA B. FRENCH, Secretary of State. ACCOUNTS. STATE OF MAINE to HENRY GREEN, Dr. For services from the 12th of June to the 12th July, 1846, recruiting volunteers for the Mexican service, 26 days, Board 26 days, Room rent and use of flag, 52 00 12.00 $75 72 75 STATE OF MAINE in account with CHARLES SIMMONS. 1846.-For 15 days service in recruiting volunteers for the Bill of horse hire in riding around the country for Bill advertising notice in Kennebec Journal, $30 00 14 75 1.00 Expenses of myself and horse and-carriage in travel- 5.00 15 17 |
