New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-11-18
THE SAYINGS BANKS.
DEPOSITS AND PAYMENTS COMPARED
WITH THE SAME TIME LAST Year,
PRESENT CONDITION.


that was more safe thsn it possibly can be in the
hands Of ndividusls-rnoney that was drawing inter-
est which forfeited and lost by drawing the pripci
pal before The interest duet has LEFT the Savings
Banks ofths city in stronger position than they ever
were efore, because it has ef them 9 sg surplus
of Interest to be divided hereafter among the deposit
ors who were mistaken in the late foolish excitement
Of fear that the bsIks would break aud depOstors lose
their money.
/. is foolish fear, because, in the way our banks
for savings are organized no loss can ever befA the
depceitorr except all the mansges combine together
in a barefaeed robbery; and in some of the Oldest
es'sblshme nts, even that would be impossible, be-
the funds except the cash in immediate use, are
invested in bonds snd mortgages, or such stocks as
those OF the United States State Of New York that
are always worth all, or more, than the cost And as
theIe lie always large amount of money on deposit for
safety, that does not accumulate interest for each
separate sum, but for surplus fund there is posi-
blity of loss to depositors tom any fall of stocks or
loss from bari ks of issue with which the savings banks
may have cper accounts.
In short, Savings Banks are, above all other places
where small sums can be deposited, the ssfest; ard
although in very rsre instances failures have occurred
in such ip.tutions through fraud in the managers yet
than from any other investment of money; and we
don't believe there is anything more thar bare pcs-
sibilty that aepositor could lose money deposited in
any Savings Institution in this city.
Savings Banks are exactly what their same indicates
"a place where the poor may bank up their savings
where they safe from the r temptation TO spend
or lend, and safe from the temptation of roguss to
steal; and millions of dollars have been thus saved
or immense Gums of interest gained that would have
been lcst forever to those who have laid up many
mickle' until it has made /" a muckle."
To ascer ain the condition Of business in the several
savings barks since the cessation Of the panic, we
have made rquiry of most of them to the amount
of money deposited, and amount Withdrawn in the first
two weeks of November, 1857, compared with the
same period in 1856.
THE CHAMBERS STREET SAVINGS BANK
This the oldest institution in the city If not in the
country. 1t was first located, in 1919, in Chambers
street, whence it took it, name 1t is now 10 Blocker
at head of Crosby street, in very fine new msrble
budirg in sight and of easy access from Broadway.
On the first Of July 1856, $4,000 persons had made
deposits, amounting to az ,53oO57, which had made
SC OO 984 Of interest," ard IL O64 accounts had been
closed aud cash paid out to the amount OF s5 2li2e
leaving for the AZ 9i5 accounts still open, balance Of
$s,3l7, 3d.
In the year 1885, 49, sos persons deposited $25G6i6
of which 9s2l were new depositors. In 1886, 2962o
persons drew out $2O9S397, and 6iS2 persons closed
their accounts.
In the first two weeks Of November, 1856 969 per-
drew out 625. In the first two weeks of 1851,
80 persons drew out $lO2, 6O3-excess $685.
The deposits in the two fret weeks of November,
1856, were $75, ss3. In same time 1857, $780, $50.
The bank has paid out since the fr;t of July last
nearly 100000. Some persons who have not been
seen at the bank for years have made their appear
anee this Fall, and received not only thor principal,
but an accumulation of interest perfectly astonishing
Mr.. Depeyster, the Treasurer, TO whom we are TO-
debted for the above reliable information, related
curious :dote about account of long standing
that is worth atDg, as it shows how interest ac;u
mulates.
More than twenty years ago awoman who had been
a servant in bis fathers family, at her marriage had
about $40 due her. $35 of which she deposited in the
Chambers street Savings Bank, just before moving
away West carrying her account book with her, which
not heard of at the bank again until within
a few weeks, when gentleman called and showed his
book to some of the clerks, who, not recognizing its
ar cent appes acce referred the gentleman 10 Mr.. De-
pey ster He at once recognized the name and remem-
bered the circumstance of advising the woman to make
the deposit, and said to the gentleman:
"where did you get this book ,"
at belonged to my mother. l often heard her
speak of it in her lifetime, and cay she intended the
money for her grandson, a boy of mine and as was
coming TO New-York, I thought l would bring it
along and make some inquiries, though, as told her.
presume it is outlawed ard passed to surplus fund,
az unclaimed money
"On the contrary, since your papers show you all
right will not only pay you the deposit but ts &C
emulation of interest Wait patiently few minutes,
as we shall have to overhaul some pretty old books"
In the mean time Mr. Depsyster found that by the
came hugality which had accumulated the first cav
in g. the gentleman's parents had become welso-
do Western farmers, ard not having occasion for the
deposit, it had been nearly forgotten, while children
and grandchildren had come upon the stage, ore OF
which was now TO receive the benefit Of bis grand
mothers ssvipgs.
"Here, Sir" raid the Clerk, ia the amount due
One hundred and thirty. serea dollars"
The an looked astonished and asked il =" he was
not mistaken"
Mr.. Depeyster explained. "Ths deposit has not
only been at compound interest every six months bst
has had the advantage Of many extra dividends His
all right, ard for the sake Of its new recipient, am
highly pleased tina, it is SO large"
The msn pocketed the sun in gold and went away
with very high opinion Of Savings Banks.
Mr.. Depey.ter related another characteristic srec-
cote slowing the idaepce Of these savings ins!itr-
tiors upon character
A young nan in the employ Of one Of his friends
had often urged bin to save his money and open an
account in the savings bark, but never got ready TO
begin urti the wife Of his employer deposited S. and
gave him the book az a New.Yesr's gift. He resd
over the rules ard STUDIED the sdvantges and it
nnered rev ght 70 big mind A few weeks afer-