230 BANKS IN XEWFOUNliLANJ), 



.Sealing and coasting vessels pa}' six pence per ton on I'egistered 

 vessels of forty tons and upwards ; vessels under forty tons jmy 

 fifteen shillings per ton. No greater sum tliiin £25 can be levied 

 in any year on any steamer or vessel entering any port of the 



■ Colony ; and no steanu'r plying Ix'twcen Europe and an\' port 

 of Xortli Amt'i'lea, and entering any poi't of the Colony as a 

 port of call, is lialde to pay any light-dues (ir any port charges 



. except pilotage. 



A sum of aliout iS45,000 annually is re(|uircd to maintain the 

 .system, of which about §'30,000 ai'e collected as light-dui's. 

 BANKS IN NEWFOUNDLAND. 

 The Savings' Baidc is a Government estaldishmeut, and it is 

 .enacted by statute that "the general revenue of the Colony 

 is liable for all moneys deposited in the bank and all interests 

 payable thereon."' This gix'cs abs(dute security to depositors. 

 Being thus a Colonial institution, the (Governor in Council ap- 

 points the Cashier ami eight go\ernois, hve of whom are selected 

 from the members of the House of Assembly and three from the 

 Legislative Council. Three directors are annually elected by 



■ these governors from among themselves, and l)y them the affairs of 

 the bank are superintended. Depositors of any amount over four 

 dollars for a period of not less than six nronths, receive interest 



, at the rate of three per cent, per annum. By an Act of the 

 Legislature the reserve fuiul is constituted a sinking fund for the 

 li(piidation of the jniblic debt of the Colony, the annual profits 



. of the Savings' Bank being added to this fund from year to year. 

 Already this fund has Aviped out no less than »5'350,942 of the 

 Public Debt. This has lieen the work of the last fifteen years — • 

 a fact which speaks volumes for the excellent management of the 



, Savings' Bank. 



On the 31st December, 1893, the amount of deposits in the 

 Savings' Bank was -S'3,068,288. The profits for the year were 

 $20,337. There are at present 6,620 accounts and the same 

 number of depositors. Tliere are Branch Baidcs in Harbour 



• Grace, Heart's Content and Placentia. Tluurs of luisiness from 

 10.30 a. m., to 3 p. m. 



