The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1819-07-27
1879.
The Institution for Sayinos

for tie fc70n q Portland and rs Vicnit.
ITS Office is established in the front toom !
the building occupied by the Bank cf por,Ia,a
Middle Street. 1t viii be open only everv W.
nesday from II TO o'clock. The Pres;1su,.
the Hon. PRENTIsS MELLFN.
The Vice Presidents are MATTHEW I'm.
JAMES DEERING. STEPHEN LoNCFELIow A,a'
ON X. PARIS. ISAAC ILsLRK. ASA CIAp F1,v,n.
WHITMAN, LEVI CUTTER.
The Trustees are, Albert N,uhaH. james Ma
UiLidm Chddwick. Charles For. Rfark Ha,rI,
Henry Smith, Horatio Southgqte, lillian Svo.'
Richard Cobb, WoOdhsry Siorerir Sr,nusl Yfn,k
William p. Prsbie Bsrjdrin r. Chggs. Churls,
S. Dareis John Dicks and .4lgheus Shar
The design oflhs Institution j. 70 afford 10
those who are DESTROYS of saving their money
but who have not acquired sufficient ID mr..
chase share in the banks or a sum in puh
Ick stocks, the means u employing heir mon.
ey to, advantage, without running the risk az
losing i. It is intended f. encourage tie 10.
dusrious and prudent, and to induce hose
who have not hitherto been such. IN lessen
their unnecessary expenses. and % save and
lay by something for period d lie when
they will be less able 10 earn 2 support. To
promote these desirable purposes. the follow
ING rules among others have been adoped
Deposits, or monies putin, Will H reccir
ed as low as one dollar, and when any rer-
sons deposits or payments shall amopni 10
five dollars, thew will he pot upon interest
hot deposits made al anv time between the
quarters ending the third Wednesday Of April,
July, October and January. will not be pa!
upon interest till the third "Wednesday IF lie
quarter succeeding the denosit The resson
Is, that it would be impraciicabIe to compute
interest on numerous deposits. unless y
made TO commence from few fixed periods
No business can he done al Ire ofhce Tx
on Wednesdays from | t. J O'Clock. Tbs
IS to save expense 70 those, who Pot in them
money, who would otherwise he obliged 70
pay more tor the time Of the clerks, i they 4
were 10 attend every day.
Twice every year. namely on The ihEi
Wednesday of every July and January
dividend or payment Of interest Of two aid
halt per cent or Two and half dollars oua
hundred will be made This will amount e
i've dollars on every hundred every year,
and so proportionahle sum for any sun less
or more than one hundred dollars.
Although only FIVE per cent is promised
yearly, yet every fifth wear, all the extra 10
come, which has not before been pail and d
v'ded, will then be divided in Just proportion
TO the length of time the money bss beenn,
according TO The bylaws; and nothing Will
be deducted from this extra income, but ne
actual expenses paid for carrying on lbe Oa
siness ami taking care If the money.
The Trustees will take no emounent q II
pay for their service, having undertaken
solely 10 promoi> the interest Of the tnHnana
OF the persons above described. rho may p1l
their money therein. H.
Those, who do not choose to take TIER !"
terest from time 10 time, NAV he assured laai H.
il shall he added TO their capital Or sun pi'p' Ii
and snail be put upon interest, alter ln'fe
months Thus they viii Get compound iR's''
est on what they lie; remain, which ihey cdu' III
not DO in any other wav by law. IL
II is plain this institution and MODE O P.~ ~
ing money will be safer than lending 4 = II HI
6ividuals.
But people may become sick. or o'heI"iS
" ant their money, after they have pat ~
II is provided, that they NAV take 7 out "p'p
thew please. but the DAYS Of taking on -
the third Wednesdays Of January, April w
and October, and they must give one W.
notice before those days that they 'n'e"a
call for their money. The reason Of 'as III
is this. If the money could be called II ~, d"
day in the year, the Trustees could no' 's"I
out or employ il 70 the advantage o. 'HOss IL
put il in. LdNr
Monies put in, will be entered II ~ III.
the Corporation, and also IN book 70 IN h ~
en- to those who put it in. This oooe W. aid ~
the evidence Of their property, ana 4 LID liz
as note ofhand. When monies arc - he Il.
out, this book given to the deposllol NV, u. H.
brought to the Office to have The PAYNE" orev !,
tered. Persons may take OCT Toe HES: n'p y
themselves. Or in case Of absence or SCI
it viii be paid to their order, 'Prore" is
messed and accompanied bvthe oooA J.. Cav a
IF nersons die. who own money 10 ils . i III
ines Bank. the money viii 60 70 their ' ii ~
or persons to whom they may have s''' rl,ced n
will. with certainty. Il cannon De rs de ~
where il will be more safe, as T" -
honour and fidelity OF management