The City of Bangor; The Industries, Resources, Attractions and Business Life of Bangor and Its Environs

The City of Bangor; The Industries, Resources, Attractions and Business Life of Bangor and Its Environs

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 edition. Excerpt: ...by the note of the borrower and by the guarantee of the company. It is better than the ordinary debenture bond, both for the company and the investor. The company holds in trust a large amount of funds, being trustee for numerous corporations. The bank has a large and increasing amount of time deposits, subject to the same rules and regulations as savings banks, and pays to its time depositors 3i per cent, interest payable semi-annually, the same as do the savings banks of Bangor. The company has about 200 safe deposit boxes in its vaults, and the number of renters is constantly increasing. The surplus of the company is constantly increasing, and so is its business, as each such annual statement shows. The bank of the Eastern Trust and Banking company in Bangor is the center and head of the company's business, but not its entirety. It has two important branches, one at Oldtown, Me., and one at Machias, Me., both prosperous and flourishing as may be judged from accompanying cuts. Both are important factors in the business of the towns in which they are located. The branch at Oldtown was established in 1887, and occupies quarters in Odd Fellows" block. The manager is A. H. Brown, one of Oldtown's most substantial men. A clerk is employed and the branch has a safe and vault, doing the entire local banking business of the town. At Machias the branch bank is located in a building of its own, on Center street and was established in 1888. The manager is J. A. Coffin, a successful lumberman of Columbia Falls. A regular banking establishment is maintained there, and a constantly increasing business is a result gratifying to the. company. All loans at both Oldtown and Machias arc subject to the inspection and authorization of the home bank and all...show more

Product details

  • Paperback | 38 pages
  • 189 x 246 x 2mm | 86g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236524756
  • 9781236524751