UNITED STATES OP AMERICA. (NEW HAMPSHIRE.) 



763 



iterest on notes and bonds issued for raising and 

 juipping the State's quota of troops during the 

 ivil war of 1861-'65. The State will never be 

 from debt, by reason of the obligations it has 

 issumed in the acceptance of certain trust funds 

 jpon which it has contracted to pay interest for- 

 ver. The Benjamin Thompson Trust fund, 

 rhich originally amounted to $363,823.32, will, 

 an Jan. 30, 1910, amount to $797,181.67. The 

 State will have added to the original fund $433,- 

 58.35, and after Jan. 30, 1910, will be obliged to 

 pay in cash annually to the New Hampshire Col- 

 lege of Agriculture and the Mechanic Arts 4 per 

 ent. on $797,181.67 an annual interest charge of 

 51,887.27. Other trust funds on that date (Jan. 

 1910) will, with the Thompson fund, amount 

 nearly $1,000,000, involving an annual inter- 

 at charge of nearly $40,000." 

 Banks. There are under the supervision of 

 the Bank Commissioners 77 savings-banks, 13 

 banking and trust companies (7 with savings-bank 

 departments), and 17 building and loan associa- 

 'ions. This includes the savings-banks and trust 

 smpanies now in the hands of assignees. The 

 ivings-banks now in active operation show an 

 jgregate of resources on June 30, 1902, of $70,- 

 725,954.79. There is due the depositors $60,249,- 

 32.29, and the surplus and the guaranty fund 

 aount to $10,476,092.50. Per capita deposits for 

 le entire population of the State, $146.38. 

 The increase of deposits for the year was $3,171,- 

 29.14, and the number of depositors has increased 

 rom 142,460 to 147,928. Unwise investments in 

 listant States, induced by high rates of interest, 

 ive wholly ceased, and, under a conservative in- 

 vestment law, satisfactory investments in securi- 

 ties proper for trust funds have taken place. 

 But little change in the volume of business of 

 ic building and loan associations is shown. The 

 loans to members on homesteads on June 30, 1902, 

 ras- $1,595,618.41; loans on shares, $41,640.20; 

 sans to others not members, $38,696.08. The 

 aok value of real estate held by the associations 

 ?as $65,790.50; cash on hand and on deposit, $58,- 

 T85.37; total assets, $1,740,116.64. The withdraw- 

 als during the year were: Dues capital, $160,384,- 

 50; dues retired, $98,435; dues matured, $96,291; 

 profits withdrawn, $38,923.31; profits retired, 

 $36,306.62; profits matured, $51,330.93. The 

 shares account shows additions during the year of 

 5,821; withdrawn, 3,1274; forfeited, 25; retired, 

 898; matured, 751J; shares outstanding, 28,867. 



Insurance. The report for 1901, issued May 

 1, 1902, shows the withdrawal of 7 companies from 

 the State and the admission of 1. The number of 

 companies now doing business in New Hampshire 

 is 113 83 stock companies and 30 mutual compa- 

 nies a net loss of 6. The total business transact- 

 ed within the State by all authorized companies 

 for the year was: Risks written, $111,581,480.96; 

 premiums received, $1,456,852.36; losses paid, 

 875,264.92; a gain of about $9,000,000. The 

 largest amount written in any previous year was 

 1899, the risks written being $103,674,181.06. 

 The financial condition of all the companies do- 

 ig business in New Hampshire on Jan. 1, 1902, 

 ras as follows: Total paid-up capital, $44,677,- 

 375; total gross assets, $259,324,709.80; total lia- 

 bilities (except capital), $128,946.004.04; total 

 surplus as to policy-holders, $130,378,705.76. By 

 surplus to policy-holders is meant the surplus over 

 ill liabilities added to the amount of the paid-up 

 capital ; for both amounts are available, if neces- 

 sary, for the payment of loss claims. 



From 1867 to 1901, inclusive (thirty-four years), 

 foreign insurance companies (companies of other 

 States and countries) doing business in New 



Hampshire received in premiums $15,027,652.16, 

 and paid losses in the same years of $8,888,308.62. 

 The premiums received exceeded losses paid by 

 $6,139,343.54. 



In 1885 the " valued-policy law " was passed, 

 which resulted in the withdrawal from the State 

 of all foreign stock and mutual companies. They 

 believed it impossible to do business with safety 

 and profit under that law. In 1889, however, they 

 began to return; and business went on as before. 

 The ratio of losses to premiums, from 1867 to 1884, 

 inclusive, under the old law common to most of 

 the States, was 66.81 ; the ratio of losses under the 

 " valued-policy law," from 1889 to 1901, inclusive, 

 was 50.25 fairly showing the great value of the 

 new law to New Hampshire and to the insurance 

 companies compared with the old law. Nothing 

 could induce the State to return to the old system 

 of insurance. 



Railroads. The history of steam-roads for 

 1902 is mainly a duplication of last year's state- 

 ment. Mileage, rentals, and dividends are pre- 

 cisely the same. The Boston and Main Railroad 

 is authorized by the Railroad Commissioners of 

 Maine, New Hampshire, and Massachusetts to in- 

 crease its capital stock $1,000,000 by issuing 10,- 

 000 shares, par value $100. The proceeds of this 

 increase will be expended in the further abolish- 

 ing of grade-crossings, in permanent repairs on 

 the Worcester, Nashua, and Portland branch, and 

 for other lawful purposes. 



The electric-road mileage now in operation is 

 223 miles, with 10 miles more in process of con- 

 struction. Their capitalization is $3,451,000 in 

 stock and $2,196,000 in bonds, an average of 

 about $25,000 a mile. 



State Library. This institution aims to be 

 the central reference library of the State, supple- 

 menting the public libraries of the towns and cit- 

 ies, and furnishing aid to professional men, histo- 

 rians, scientists, and others within the borders of 

 the State. The State has provided it with a com- 

 modious fire-proof building, well adapted for its 

 needs. Upon its shelves are over 80,000 bound 

 volumes, besides a very large number of unbound 

 volumes. The average annual increase for the 

 past few years has exceeded 6,000 bound volumes 

 and an equal number of unbound volumes. While 

 the legal department is the largest and most com- 

 plete at present, much thought and effort is being 

 given to the medical, historical, agricultural, 

 scientific, religious, and other departments, to the 

 end that all may be eventually as well served as 

 is the legal profession. Much attention has been 

 given during the past few years to the collection 

 of proceedings and publications of societies of all 

 kinds, with the result that the library to-day con- 

 tains one of the best collections in the country. 



National Guard. The guard consists of 1 bri- 

 gade of 2 12-company regiments of infantry, 1 4- 

 gun light battery, 1 troop of cavalry, a signal- 

 corps, and a hospital corps. The infantry is armed 

 with the now obsolete breech-loading rifle, caliber 

 0.45, but a few of the Springfield magazine rifles, 

 caliber 0.30 (Krag-Jorgensen), have been issued to 

 each of the companies for rifle practise on the 

 ranges, with the result that an unusual number 

 of sharpshooters and marksmen have qualified. 

 The interest in this branch of a soldier's education 

 has been much increased. 



New flag-cases for the battle-flags of the war 

 regiments of New Hampshire of the civil and 

 Spanish wars have been erected in the Doric Hall 

 of the State-House. These cases, of unstained ma- 

 hogany, are lined throughout with copper and 

 enclosed in front with plate-glass, making them 

 not only dust-proof, but practically air-tight. 



