The Massachusetts spy, and Worcester County advertiser. [volume] ([Worcester, Mass.]) 1825-1831, 1831-04-27

is Vice President -
APRIL. OCTOBER.
John DGr,s, Nathaniel P. Denny,
William Eaton, Sias Brooks.
Benjamin Butman. William D. Wheeler.
MAY. NOVEMBER
John W. Lincoln, Samuel B. Thomas,
Nathan Heard, Calvin Willard
Ichabod Washburn. Francis Thaxter.
JUNE. DECEMBER
Benjamin F. Hey,cood, 1heophilus Wheeler,
John M. Earle, Alfred D. Foster,
H. w. Miller. John Coe.
JULY JANUARY
Rejoice NeiDton Oliuer Fiske.
Elisha Flagg George II. Rice,
Asa Hamilton. Emory Washburn.
AUGUST. FEBRUARY.
Frederick W. Paine, AbijGh BigeLOlc,
William Jennison, Simeon Burt,
Pliny Merrick. Thomas Kinnicutt.
SEPTEMBER. MARCH.
Arternas Ward. Samuel N. Burnside,
Thomas Chamberlain, Otis Corbett,-
William Lincoln. Isaac Davis.
The money is loaned at the discretion of the
Board of Investment, who were chosen by the
Trustees as follows BENZ. BUTMAN, Chairman
OTIs CoRBETT, GEORGE t. RICE. FRED. W..
PAINE, JOHN w. LINCOLN, together with the
Treasurer and Secretary.
The Treasurer Reports. That during the past
year the funds of the Institution have been increas
ed by the receipt of 1856 deposits, amounting, to-
gether with the dividends uncalled for and added
to the principal to the Of S22, 5O4,92-and that
there has been Sc payments from the principal,
amounting to S3l23,73. The number of new ac-
counts is 1874. The number which have been clos
ed is 81.
The present state of the Institution will more
fully appear from the following account current
The Treasurer, Dr.
To amount received from 400 depostors
including dividends unpaid, &c. gs2os22 90
Profits received, and undivided, 704 10
Profits accrued, but not received, 352 10
s33,o89, Is
BY Stock in Worcester Bank $4,000
Leicester Bank 100
Central Bank, 1000 90
Mortgage, &c, 27284s7
Interest accrued, but not vet DUE 352 10
Cash in Worcester Bank, 152 ~
S33,oS9, Is
The funds have always been invested with but
little delay, and, in the opinion of the Committee
appointed for that purpose, both safely and prsfta
bly,.
The addition of SIS, 252, 10 to the Capital Stock
within the year affords evidence of its prosperity,
which must be gratifying to the friends of the In
stitution. Yet considering the extent Of its Objects
but little has been effected. This in the language
OF our BYLAWS is to provide a method of ena-
bling the industrious and economcalto invest such
part of their property and earnings they can con-
venleRtly spare, in manner which will afford
them both profit and security" The peculiar ad-
vantages to the individual, and of utility to the
community, which it affords, have been tested by
the experience of similar institutions and by this,
as far as its operations have extended. But it is
obvious that these have been far less general than
the wishes of its friends would have them The
number of existing depositors is but 400; and this
in the centre of population of more than 80 900 ;
of which onefourth part minors-a class from
which the greatest number of depositors is to be
expected. For portion of this class the wisdom
ofparents and guardians may have found resource
equivalent to that which is here provded-but we
cannot err in supposing that with respect 10 a far
greater portion is neglected, either from want of
information respecting its existence and its objects,
or miscalculaton of the advantages it is intended
to afford. The same remark may be applied, also,
to great numbers in the community without regard
to age-and it is in view of these considerations,
respectfully recommended to the members of the
Corporation, to communicate, as far as they have
opportunity, more extended acquaintance with
its design and their views of its utility that the
objects of its founders may be more fully and spec
Oily realized SAMUEL JENN1soN. treasurer
April 10, 1881.