The Rutland herald. [volume] (Rutland, Vt.) 1850-1852, 1851-03-13
RUTLAND SAVINGS BANK.

IN NOVEMBER, 1907
The Rutland Savings Bank is now
in successful operation, and it affords
rare opportunity for deposit to those
who may not have immediate use for
the funds they may now have, or may
hereafter receive. The managers guar
antee to Dcpositors, five per cent on
money depositel--as high rates as are
afforded by any institution Of the kind.
Below we give extracts from the De-
positors Bank Board, with list of Off
GERS.
"TnE RUTLAND SAVINGS BANK "
has been established for the purpose Of
afIording a sucure investment to per-
sons who have not the facilities Of safe
ly putting their income otherwise to
use.
1t is great mistake to suppose that
sums of trit1ing amount are not acorth
surtng By, tbs. habit of saving in
small mat."S riches are frequently ac-
quired. avn saved, would soon accu-
mulate f!S.ta44!l prs, and so on to larger
sums. Many Instances are known Of
persons beginning the world without
anything, who have become rich 10y
their own industry and frugali,y. 10
lay by portion of the fruits of indus
try in store for future wants, in the
time OF youth, and while we enjoy
health, is among our first obligations.
Some, by hard labor, and others, by
superior skill, earn high wages; yet
for want Of proper management, they
have nothing beforehand. Many might
be disposed to save part of their earn.
ings, if they knew where to place il
with safety; whilst others, who have
occasionally prac,iced saving, have los,
what they laid up by trusting it in i'm
proper hands.
10 assist, therefore, the industriou:
and frugal to lay by such part of THEN
earnings as they may be able to spare
SAVINGS BANKS have been established
in many places; and 50 great has beer
the encouragement they have received
that they are happily spreading in va
rious parts OF the world.
Amy SUN, as low as one dollar, will
be received as IL deposit and put upon
interest.
Sums smaller than one dollar viii
not be received, nor fractional parts o.
a dollar; nor will interest be computed
in any case upon fractional parts of &
dollar. The reason for these rules is
that it will no. be possible, in case o
numerous deposits, to compute the in
terest on fractional parts Of dollar
or, except from few fixed periods
without, a degree of labor, and conse
quen'ly of expense, for which the in
teresi Of, GUn1 pgte both of time an(
monPyf"'c ar. afford compensa
tioh. .Sc,..
j The interest allowed upon deposits:
will be five Per cent. year, in two
half yearly dividends, payable on Tues
day preceding the first Wednesday il
July and January, Of two and hall
per cent. As this is one per cent. les,
than legal interest, i, may at first seem
small, but this apparent snallness in
profit will be made up for in some de,
gree. by the safety Of the investment
which is no small consideration, and
more particularly by The two following
provisions, viz:
lst. All dividends not called for with
IN three months, will be considered a.
deposits, and put upon inieres. in the
same manner, IN this way, the inter
est will be compounded twice a year
which cannot legally be done otherwise
and which will greatly increase the ra,
piiity Of the accumulation.
"a. Every fifth year, all the profits
than may have accumulated during the
tive preceding years, beyond the
amount Of dividends and expenses, }
will be divided among all, then holding
deposits OF more tLan a year duration
and IN proportion TO the number o.
years they have remained. In hi,
way and jointly with the others, the ap
parent low rate Of interest will proba
lily be fully compensated for.
l, A wisely provided in the Charter