The Joint Standing Committee on Banks and Banking, to which was referred the joint order of the two branches of the legislature of Feb. 14th last, directing the committee to "inquire into the expediency of investigating the doings of the directors of the Skowhegan, Ellsworth, Searsport and Somerset Banks," have considered the subject therein contained, ask leave to report ...

At head of title: State of Maine

[Augusta, Maine?] : Fuller and Fuller, Printers to the State, [1856]

1 online resource (5 pages, 1 unnumbered page).

Document (Maine. Legislature. Senate) ; 35th Legislature, 1856, no. 28.

Committee report of the Maine Joint Standing Committee on Banks and Banking.The Committee found that Skowhegan, Searsport and Somerset Banks were safe banks. The committee notes that "the stock is owned by a large number of individuals, who seek a safe investment of capital; and they are managed by men of intelligence and integrity. And in the cases where they have not complied with strict legal requirements, it is not believed that they intended to violate any provisions of the law whereby the public would suffer loss." (Page 3). The stockholders of Ellsworth Bank, whose officers did permit improper use of funds, had elected a new board and were planning to close the bank.

Online resource; title from PDF first lines of text (LLMC Digital, viewed March 25, 2024).

www

LLMC-Digital Collection

Banks

English

Monographs & Serials
Electronic Resources