484 



NEW HAMPSHIRE. 



tate, income for the year ending Jan. 29, 1898, 

 $10,539.94 ; sales of public property (janitor), $2 ; 

 escheated estates, $3,642.85 ; license fees (itinerant 

 venders), $25 ; National Guard (fines), $3 ; total 

 revenue, $701,768.29. 



The ordinary expenses were $247,051.97 ; extraor- 

 dinary expenses, $39,431.10; interest, $115,175.38; 

 total expenses, $401,658.45 ; excess of revenue over 

 expenses, $300,109.84. 



The State debt was reduced during the year by 

 $300,109.84, leaving the net indebtedness June 1, 

 1898, $1,367,657.61. 



The trust funds fire now as follow: Fiske legacy. 

 $26,378.43; Kimhall legacy, $6,753.49; Teachers' 

 Institute fund, $57,949.21 ; Agricultural College 

 fund, $80,000; unclaimed savings-bank deposits, 

 $2,096.19; Benjamin Thompson trust fund, $497,- 

 917.33 ; Benjamin Thompson State trust fund, $28,- 

 748.40 : total, .$699,843.05. 



The total expenditures on account of the Soldiers' 

 Home for the year ending May 31, 1898, were $17,- 

 001.63 ; and there was received from the United 

 States during the year for the home $7,145.34. 



The Treasurer says in his report : ' The reduc- 

 tion of the net indebtedness of the State for the 

 past two fiscal years has been phenomenal, aggre- 

 gating $460.083.76. The net reduction for the year 

 1897-98 of $800,100.84 has been exceeded in only 

 one instance in twenty-five years, to wit, in 1873^- 

 '74, when, with a State tax of $600,000, the net re- 

 duction of the debt was $305,570.42. Since Jan. 1, 

 1892, the State has redeemed and canceled $1,154,- 

 800 of the municipal war loan six-per-cent. bonds 

 from the ordinary revenue without refunding a sin- 

 gle dollar, thus reducing the annual interest account 

 by the sum of $69,288." 



In April Gov. Ramsdell was authorized to expend 

 a sum not to exceed $25,000 in placing the National 

 Guard of the State on a war footing. The $30,000 

 usually spent for the annual encampment was this 

 year used for equipping the troops. 



Banks. In the annual report of the Bank Com- 

 missioners the following list of the institutions 

 which they supervise is given : ' Seventy-eight sav- 

 ings banks ; 13 State banks and trust companies, 10 

 of which have' savings departments; 17 building 

 and loan associations, organized under chap, clxvi 

 of the Public Statutes. Of the 78 savings banks, 17 

 are in liquidation under the management of their 

 own officers, and 8 are being wound up by assignees 

 appointed by the court. Of the 14 trust companies, 

 the Derryfield Savings Bank and Trust Company 

 and the New Hampshire Trust Company of Man- 

 chester, and the Security Trust Company of Nashua 

 are in the hands of assignees, and the Bank of New 

 England, of Manchester, is in liquidation under the 

 management of its directors. The 2 building and 

 loan associations that were organized under special 

 charters are in liquidation, the Granite State Provi- 

 dent Association by an assignee, and the Citizens' 

 Building and Loan Association under a vote of its 

 directors." 



The liabilities of the savings banks and savings 

 departments of the trust companies that were in 

 active business in 1898 were : Amount due depos- 

 itors, $49,997,654.03; guarantee fund, $2,974,502.48; 

 interest, $1,180,270.59; miscellaneous indebtedness, 

 $5,737.32 $54,108,164.42; premium, $2,622.947.74; 

 total, $56,731,112.16. 



The report for the year ending June 30. 1SOH. 

 shows an increase in bank deposits of nearly $80,000 

 over those of 1897. Also in the last year the guar- 

 anty fund of the banks increased more than $53.000, 

 and the premium account, which is said to lie a 

 good index of prosperity, increased by $634,000. 

 The combined value of the cash and investments 

 owned by the banks, compared with the amount 



they owe to depositors, showed a surplus of $6,733,- 

 458.13 on June 30. 1898. 



Insurance. The report of the Insurance Com- 

 missioner for the year ending Dec. 31, 1897, shows 

 that four companies, two of other countries and 

 two of other States, all conducted on the stock 

 plan, were admitted during the year. A recapitula- 

 tion of the business of New Hampshire companies 

 gives these figures : Risks written, $38,654,557.49 ; 

 premiums received, $496,812.14 ; losses incurred, 

 $211.303.31. Sixty foreign stock fire and marine 

 insurance companies of other States and countries : 

 Risks written, $40,809,722.87: premiums received, 

 $32,586.84 ; losses incurred, $293,885.39. Four for- 

 eign mutual fire insurance companies: Risks 

 written, $2,366,806 ; premiums received, $32,58U.s t : 

 losses incurred, $5,801.06. Recapitulation of busi- 

 ness of foreign and marine insurance companies: 

 Risks written, $43,176,528.87; premiums received. 

 $606,027.76 ; losses incurred, $299,686.45. The per- 

 centage of losses to premiums in 1896 was 46.40 ; 

 the percentage of losses to premiums in 1897 was 

 46.33. 



The number of fires reported for the year was 

 403, which is 105 fewer than for the year preced- 

 ing; total loss, $675,107; insurance paid, $389,931. 



The transactions of 18 authorized fidelity and 

 casualty companies were : Risks written, $17,020,- 

 703.54; premiums received, $84,834.55 ; losses paid. 

 $39,565.56. One additional life insurance company 

 was admitted to do business in the State, and the 

 returns of the 23 authorized companies for the 

 year were : Premiums received, $923,008.56 ; losses 

 paid, $352,469.89; policies issued (2,746), $3,695,- 

 668.46 ; policies in force (17,529), $28,855.141.77. 



Eight assessment life associations had 3,175 poli- 

 cies in force amounting to $5,231,498. Assessments, 

 etc., were paid to the amount of $104,731.36, while 

 the losses on claims paid amounted to $97,429.70. 

 Nine assessment casualty companies had 3,764 risl 

 in force, amounting to $4,677,600. Their asses 

 ments paid were $42,863.40, and their losses and 

 claims paid $16,433.46. Fraternal beneficiary 

 sociations to the number of 35 report 28,934 certifi- 

 cates in force. The amount received from assess 

 ments, etc., was $286.937.13, and the 182 losses anc 

 claims paid amounted to $232,993.54. 



Railroads. The report of the Railroad Com mis 

 sioners contains the returns of the 24 steam-railroad 

 and 7 street-railway corporations doing business in 

 the State June 30, 1897, the findings, decisions, and 

 orders in the 71 cases heard by the board during 

 the year, with statements and comments based upon 

 the annual inspection and the returns. The report 

 says: 



" The financial exhibits of the steam railroads 

 of New Hampshire for the year ending June :!n, 

 1897, were disappointing. Instead of showing, as 

 it was hoped they would, a recovery from the im- : - 

 ness depression, their receipts disclosed a shrinkage 

 from the comparatively small volume of traffic in 

 1896. 



*' Great damage was done upon the Boston and 

 Maine lines in April and July, 1897, by freshets, 

 which swept away nearly one third of the roadbed 

 of the Pemigewasset branch, destroyed a stone cul-- 

 vert at Bath and another at Exeter, wrecking a 

 freight train, and killing 3 trainmen at each place, 

 and injured bridges, fences, and roadbeds at other 

 points. The money loss to the corporation can not 

 be much less than $150,000. There was no additi( n 

 to the line mileage of any road during the year. 



"Steady progress has been made in the equi:)- 

 rnent of all the steam roads with train brakes ai d 

 automatic couplers. 



" An electric road was built from Springfield, V ;., 

 to the station of the Boston and Maine in Charles- 



