The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1872-09-21
THE SAVING BANKS OF CHICAGO
NO. II.
The Merchants. Farmer and MechaaIcs'
savings BaRk.

savings BaRk.
This Is one of the oldest monied institu-
tons in Chicago, having been incorporated
in 1861 and commenced business in 1862
Its affairs have always been managed with
skill. enterprise and caution, and its stand |
ing for credit and reliability is second to
none. The business Of the Merchants,
Farmers and Mechanics Savings Bank, |
is confined exclusively to the receipt and
care Of savings it keeps no mercantile ac- I
counts, and its investments are all secured |
on actual values.
Before this institution commenced bust
ness, some Of its present directors and
officers visited many Of the oldest and most |
successful savings banks in this country, |
and obtained the most complete informa-
tIon possible, regarding the workings Of
savings banks in the United States and in |
Europe Its system of doing business was
based upon the experience Of institutions
that have during the last half century
stood firmly and discharged every trust and
obligation undisturbed by the vicissltudes
of wars. tumuts and financial panics, and
depressions During the ten years Of bus
mess experience which the institution has
had. II has been enabled successfully to
pass through like experiences with the
highest credit, always giving entire salts
faction to its thousands Of depositors whose
numbers have never increased rapidly
since the great fire III October last. when
the office, No. Is South Clark street
was destroyed with the exception Of the
vaults, which stood up proudly above the
surrounding ruins, preserving their con
tents perfectly On opening the vaults
there was not only no trace Of fire or smoke
within, but it was evident that their
thick walls and well ventilated all passages
had also protected the contents from heat.
The only loss sustained by the institution.
was its office furniture, not Fdollar IT
lis loans or investments either principal
or interest was lost immediately after
the lire, a temporary office was secured at
90 Halsted street. near Madison, where
business was aSntinued through the winter,
SINCE which it removed to a new building
next door, No. 81 Halsted street, which
office is still continued, and Is dong
very large business. The nam office
is now at No - South Clark street.
opposite the old court house, two blocks
south If the old place occupied before the
ire = y the first building on Clark
street. south Of Randolph street, and is
well worth a visit. 1t is, probably, the
most complete banking house IN Chicago
at this timr Its fixtures and furniture
are both artistic and substantial The
counter, fine piece Of homework was
made by one Of the oldest depositors IN the
institution The vaults are very massive
aud capacious, proof against FIRE. It's safes
within the vaults are constructed upon the
latest and best plans, II the best sledge-
proof iron and drill-proof steel. with locks
without keys or keyholes, powder proof
and opened only by those who know the
combinations upon which they are set, and
as no one man knows all the combinations
40 one officer or clerk can alone reach the
valuable contents This Is a safeguard
against attempts which are made by bur
glars to "ver-power person supposed :"
have the combinations If bank locks and
compel him u open tie safes. Telegraph
ic wires are SO adjusted IN the bank and
vaults, that il anything is disturbed an
alarm Is communicated instantly, both to
the watchmen in and ABOUT the premises,
and to the police There is a telegraphlc
wire from the CLARK street office TO the
Halsted street office, with an instrument
Inn each, 10y which constant communication
may be kept up between the offices.
We need not now refer u the
rules Of this old and reliable insti-
tuition they viii be found to-day
il our columns, where under the emblem,
the bee-house, they have stood week after
week almost unchanged in form OF matter
Since the FIRST edition of this paper was
printed, more than eight years ago, and
for several years it was the only savings
bank advertisement in our columns. In
its investments this institution always
looks more to absolute security than to a
nigh rate Of interest and it always deals
with its del ositors on the most liberal terms
consistent with safety. In making loans
upon real estate, it has for many years
given the preference to its depositors. 1t
has helped many mechanic to a snug
home, both by it's timely aid, by loans and
by its publications and practices, making
thrift and economy easy and pleasant 1t
treats every one fairly, and its rules rather
favor those whose means are smallest and
though. as will be seen by the following
list, it has among its depositors, represen-
ives Of all callings and many nationalities,
It's dealings are mostly with mechanics
and other hand-workers. 1t is strictly
savings bank and is conducted upon the
very best principles, both i'll its dealings
with its depositors and in the investment
Of its funds
From Tenth Yearly statement.
OCCUPATION OF DEPOsITORs AS GIVEN AT