Eastern times. [volume] (Bath, Me.) 1846-1857, 1853-01-06
Written for the Eastern Times.
Bath Savings Institution.


generally acquainted with the fact of our hav
ing had the above institution chartered by the
Legislature Of Maine, and brought into opera
ton amongst US by the appointment of lrus-
tees, President, Treasurer, &c., and from
what we can learn, very many are already
availng themselves of the advantages Of depos-
iting their little sums Of spare money with its
Treasurer.
Believingit to be truly benevolent institu-
ton of the better sort, inasmuch as its design
is 10 promote economy, accumulation and thrift
with those who are beginning the world with
nothing but their hands, or, those swho have
made some progress, but cannot employ all
their pecnniary increase to immediate advan-
tages, and therefore, is calculated TO help those
who are striving to help themselves, and not
only to save them from future want, but pro-
mote their exertions for the attainment of COM
Portable independence, and perhaps, wealth.
TO the poor girl who is working for her liv-
ing at domestic-service, or with her needle, land
can from month to month or even yearly, spare
small sum to lay aside for the future,-to the
laboring man or the citizen, and especially if
young, who can do the same; and again, to
the sailor who is frequently returning from sea
with his pockets well lined, but is very liable
soon 10 find them empty, if he has not some
safe place of deposit for his money. To all
these would we earnestly recommend our Sa.
wings Institution, as friendly to their pecuniary
prosperity, their moral growth, and their res
pectability. Let them not think lightly of
small savings or small beginnings; it is from
such circumstances and by little and little that
some of our largest fortunes have been accu-
INFLATED.
In The Charter which our Legislature has
granted 10 this institution. and in the Bylaws,
an abstract of which is here annexed, every
caution has been exercised to protect the de-
posilor from imposition and injustice, and the
gentlemen who have been selected by the cor
poratOrs 10 act as Trustees, are men in whose
judgment and integrity the most entire conf
dence may, we believe, be placed; the Treas
urer too, is selected by their discretion, and is
required TO give bonds adequate to protect, as
far as human foresight can go, all interested,
from loss.
We hope therefore, that the classes Of per-
sons which have been alluded to, and for whom
the Bath Savings Institution has been more es-
pecally designed, will avail themselves Of its
advantages and not leave themIo be monopo-
LIKED by persons of larger means, which we
may expect will be the case, if permitted.
ABSTRACT OF BYLAWS.
Articles LIST and I'd, provides for meetings,
for the choice of President, Board of Trus-
tees and Treasurer, &C., for the investment of
funds.
Art. Sd, provides that the Treasurer shall
give suitable bonds to the Trustees and pre-
scribes his duties as Treasurer and Secre-
tary.
Art 4th, 9Th and 9th, specify the duties of
the Trustees and the restriction of them and
the other officers, from borrowing.
Art. 7th, 9th and 9th, prescribes the cond-
tons on which deposits are TO be made, fixing
ihe smallest sum to be received in deposit at
one dollar, and fire as the smallest on which
interest will be allowed; and provides that The
depositor shall receive book containing the
Bylaws and his account with the Institu-
ton.
Art. 10th, provides for dividends of interest
to be declared at the rate of four per cent per
annum, on the lst Mondays of February and
August, and credited or paid to the deposit
tors.
Art. 1lth and 18th, provide that, on the pre-
sentiment of their depost-book by the deposit
tor, or, on his or her order, part or the whole
amount due may be Withdrawn, but no sum
less than one dollar will be paid ont except for
interest.
Art. 18th and 10th, provide for uniting divi-
principal, for making deposits and for paying
them out in certain cases, as on the decease of
the deposition.
Art. 18th, provides that, at the end of every
period Of five years, dividend shall be made
of the existing profits, over and above the four
per cent. which has before been divided to the
depositors, yearly
Art. 18th, provides that, the Institution may
at any annual meeting, on the recommendation
Of the Trustees, and having given three months
notice, make a distribution of all the property
TO the depositors according to their respective
interests.
Art. 10Th, provides that the Bylaws may
be altered by the corporators, provided the
previous rights of the depositors be not in
jured.
Written for the Eastern Times.
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