NEW HAMPSHIRE. 



517 



Since 1879 every year has shown an increase of 

 deposits in the savings banks until the year end- 

 ing June 30, 1894, and the average increase for 

 this period of fourteen years has been nearly 

 $3,500,000 per annum. Compared with this 

 period of increase, the year ending June 30, 

 1894, shows a loss of over $7,000,000 of deposits. 

 The withdrawals still continue largely to exceed 

 the deposits. 



The total number of depositors, or open ac- 

 counts, is 169,510, a decrease of 5,144 for the 

 year. Last year there was an increase of 4,705. 

 The deposits average $416.59 to each depositor, 

 and if divided among the people of the State 

 would give to each individual $187.81. 



The holdings of the savings banks of Western 

 mortgages have steadily decreased since 1891, 

 when they reached their highest point, being at 

 that time $25,035,676.68. The net decrease since 

 then has been $4,568,543.13. 



The savings banks can no longer pay 4 per 

 cent, to depositors, and nearly all of them will 

 have reduced their rate to 3 per cent, before the 

 end of the year. 



Since the last report 2 additional banks have 

 been enjoined by the court on application of the 

 commissioners. 



The number of building and loan associations 

 remains the same. Their total assets, Oct. 31, 

 1894, were $1,368,227.68, an increase of $346,- 

 607.04 for eleven months. The dues received 

 during the same period were $306,751, and with- 

 drawals $87,964.47. Their loans on real-estate 

 security aggregate $1,248,314.65, and on shares 

 $28,804. Their loans repaid were $53,907.07. 

 The receipts and disbursements are over $500,- 

 000 annually. 



Railroads. The report of the directors of 

 the Concord and Montreal road for the year 

 ending June 30, 1894, shows the receipts to have 

 been $2,413,907.36, of which $941,108.98 was 

 from passengers. The expenditures were $1,798,- 

 468.38, of which $76,241.20 was for rental of 

 roads. The net earnings were $615,438.98, of 

 which $241.200.28 was paid in interest and 

 $360,000 in dividends, leaving an undivided sur- 

 plus of $14,238.70. The taxes paid were $107,- 

 852.86. The liabilities were $12.852,257.70, in- 

 cluding capital stock $5,984,700 and $5,500,000 

 bonds. There were 1,824,151 passengers carried ; 

 48,033,266 was the number carried 1 mile, and 

 the average rate was $0.01959 a mile. The total 

 of freight carried was 2,085,215 tons. 



A special report on electric roads was made to 

 the Legislature by the commissioners, by which 

 it appears that Concord and Dover have street 

 railways operated by electricity, and arrange- 

 ments are in progress for changing the horse 

 railroads of Manchester and Nashua into electric 

 roads. The Concord road paid 6-per-cent. divi- 

 dends on its preferred stock in 1894, and carried 

 $2.749.61 to surplus. The Dover road is in the 

 hands of a receiver. The Nashua road had a 

 deficit of more than $12,000. 



Insurance. The amount of fire insurance 

 annually written in the* State approaches $100,- 

 000.000, and it is almost evenly divided between 

 domestic and foreign companies. 



The existing laws require foreign companies 

 to include in their liabilities 50 per cent, of the 

 premiums received on unexpired risks, and in 



submitting statements of their condition the 

 foreign mutual companies are not permitted 

 to include in their assets policy stipulations 

 or premium notes. These conditions do not 

 fully apply to domestic companies of the same 

 class. 



Twenty-one life insurance companies are au- 

 thorized to do business in the State. Over 13.000 

 policies, representing $23,000,000, are in force, 

 nearly 3,750,000 being written in the past year. 



The United States Supreme Court has ren- 

 dered a decision of great importance to fire in- 

 surance companies in a case appealed from New 

 Hampshire. The court holds that when a policy 

 contract has once been voided it can not be re- 

 instated except by the consent of both parties. 

 The case grew out of the burning of the Coos 

 County courthouse, which was insured in the 

 Imperial Insurance Company and others. The 

 building was destroyed by fire, and the compa- 

 nies resisted payment on the ground that altera- 

 tions had been made in the building, causing the 

 employment of masons, carpenters, painters, etc., 

 to an extent requiring work to go on for several 

 weeks, which was done without notice to or con- 

 sent from the Imperial. The assured attempted 

 to sjiow that the work was completed at or about 

 midnight just preceding the fire, which occurred 

 at 2 o'clock A. M. The judge of the circuit court 

 charged the jury that the question was whether 

 the hazard was increased at the moment of the 

 fire, and, if not, they were to find for the plain- 

 tiff. The defendant claimed that the work of 

 mechanics, without notice to or consent from 

 the company, voided the policy under its condi- 

 tions. The case was appealed to Washington, 

 and the United States Supreme Court sustains 

 every contention of the defendant. 



Business. The record of business operations 

 for the year gives the total number of failures in 

 1894 as '100, with liabilities of $925.852. In 1893 

 there were 110 failures, with liabilities aggregat- 

 ing $10,272,559. 



Education. The College of Agriculture and 

 Mechanic Arts, at Durham, gave this year a 

 course of four weeks, beginning Feb. 5, for those 

 unable to pursue the regular course. The aver- 

 age expense of attending was estimated at $25. 

 The purpose was to prepare students for intelli- 

 gent home study of practical agricultural prob- 

 lems. There were 3 graduates in the regular 

 course in June. 



Dartmouth College this year celebrated its 

 one hundred and twenty-fifth anniversary. Cir- 

 culars were sent to the 2,700 living alumni, ask- 

 ing for subscriptions, running for three years, of 

 $10 to $100 a year, to be used for building an 

 alumni or memorial hall. The trustees have 

 plans for several new buildings, which will be 

 placed around a quadrangle 372 by 290 eet, 

 much of the land for which is now owned by the 

 college. 



The Committee on Education, of which Pres- 

 ident Tucker is chairman, recommend a system 

 of uniform State examinations, county super- 

 visors, and a State pedagogical library. 



There is at present no system of examinations 

 for teachers in the common schools. 



Military. The annual report of the Adjutant 

 General for the year ending Oct. 31 gives, among 

 other details, the following : 



