Biddeford High School - Olympian Yearbook (Biddeford, ME)

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COMPLIMENTS OF The Mutual Theatre Mirrophonic Sound Saco, Maine A. H. BENOIT 8a C0. Men and Boys' Clothing Shoes and Furnishings Masonic Block

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-50 YEARS OF HONESTY- The Stores of GOOD FURNITURE With Low Prices and a Guarantee H. P. Atkinson 8: Sons, Inc. Biddeford-Old Orchard Beach- Saco COMPLIMENTS OF The Diamond Match Co. Biddeford, Me. FORD 8: LINCOLN ZEPHYR The Leaders in Their Price Field ARTHUR B. COOK, INC 60 Elm St. Biddeford Me COMPLIMENTS OF MAYOR LANDRY

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THE BIDDEFORD SAVINGS BANK 238 Main Street, Biddeford, Maine Financial Statement at the Close of Business October 25, 1937 A STATEMENT ANYBODY CAN UNDERSTAND WE OWN: Cash ......................................... 588,908.05 fPart of this cash is kept at the Bank to meet daily demands. The re- mainder is placed on interest at a legal depository and is returnable on demand. Q United States Government Bonds .................. 5l,187,153.28 fThe'se bonds may be converted into cash on a few hours' notice and are thus equivalent to cash.j State and Municipal Bonds in Maine ................ 5547,842.80 fThese bonds have taxing power behind them. State of Maine bonds are rated among the soundest of any of the states of the Union and at present are selling at a yield comparable with Government bonds. 1 Pulilic Funds out of Maine ......................... 59,635.00 fThese bonds are the direct obligation of the City of New York and carry a very high rating.j Canadian Bonds, Dominion and Provinces ........... 571,507.50 fThis group consists of a selected list of Canadian bonds, interest and principal payable in United States gold.,l Miscellaneous Bonds ............................ 51,373,888.25 I A carefully selected and conservative list of Public Utility, Railroad and Industrial obligations. Q stocks ......,................................ 549,125.00 CThese stocks represent less than 2 Per Cent of the total assets of the Bank, and are carried at less than present market prices.j Loans on Mortgages of Real Estate ................. 51,014,779.65 fThis Bank lends money on first mortgages only, no second mortgages acceptedj Loans on Collateral ........................... A . . 521,171.00 I This item represents money loaned to persons who have deposited secur- ities with the Bank more than sufficient, at present prices, to cover sums borrowed. j Loans to Other Corporations ...................... 512,352.48 fNone of these loans have been made to industrial corporations.j Foreclosure Account ............ ................. 5 16,500.00 K Real estate taken over by the Bank and held temporarily pending sale or reolemption.j Real Estate .................................... 524,000.00 I The Savings Bank Building and other real estate, all in the business area of Biddeford, which the Bank holds permanently.j Total of 'Wliat We Own QAssetsl .... . . .54,416,863.01 WE OWE: This Bank Owes Its Depositors .................... 53,787,839.06 IAside from running expenses, which are paid as they become due, the Bank has no bills payablezj Reserve Fund and Undivided Profits ................. 5629,023.95 fThis item, which is the amount by which our assets exceed our deposits, represents reserves created for addzfl security to depositors.j Total ................................ 54,4 1 6,863.01 The above igures are taken from the latest report of the Bank Commissioner, dated October 25, 1937, and are ojicial.