New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-02-16
THRIFT AMONG TIE POOR.


MORE ACCOUNTS OPENED IN The SAVINGS BANKS
LAST MONTH THAN IN JANUARY lS73-THE DE-
POSTS SMALLER AND MORE SUMERoUs-soME
CHEERFUL FACTS.
If the savings institutions are any criterion
OF the condition OF the poorer classes of NswYork, the
fact is made evident In spite OF the cries for help heard
from every quarter the herculean efforts to
them by people, that the men, women, and thrifty
apprentice boys and girls who usually deposit the sur
plus OF their earnings and spending money continue to
store away q few pennies or dollars every week OF
month, though the amounts are much smaller than
usual IL also certain that persons are deposit
ing money in the savings banks now than there
were one year ago. and small depostors con
tnue to increase every day. The explanation
OF this state OF affairs AS given by bank presidents Is
that the present has made the poorer
working people thoughtful and more economical
They the necessity OF living more closely than
they did when work and food were plentiful and nave
therefore been enabled put aside small amounts for
still harder season II such time should come. The
savings banks, in which no amount less than or IS Is
taken and which are supported by the better class OF
workingmen and small tradesmen have suffered snghtV
because many who In former times would haVe gone 10
them with their money, are now obliged to AVOID them
and go Institutions like the 5xpenny or Dime Savings
Banks.
A reporter of THE TRIBUNE called upon Mr.. Miles,
and from him obtained many interesting facts. This
bank accepts deposits OF FIVE cents and upward During
September, October, and November the Withdrawals ex
ceeded deposits. In the first month the decrease
10000 october the decrease was several thou
sands less in November the OF Withdrawals had
dwindled considerably and In December the deposits
suddenly shot upward and business began to assume It's
customary buoyancy The first month OF the new year
witnessed change for the better. Nine hundred ana
ninety accounts opened and only 1873 accounts
were closed During January, 1879 97 now accounts
opened aud 2s5 closed SO far this month over 400
accounts were opened. But the amounts deposited are
notceaby smaller.
Secretary BrinckerhO Of the NewYork Savings Bank,
at Eghth-ave and Fourteenthst has taken coDsidera
BILE interest In the matter Of deposits and Withdrawals
in connection with the want and destuton among It's
depOsitors. He anticipated noticeable falling oil in
the deposits, but surprised to find that IL was gam
ing new accounts every week. The inferior amounts
offered have reduced, however the aggregate sum de-
posted. which, Mr.. Brinckerhon believed, proves that
the unusually embarrassing to their depostors,
who although they have Increase d in number have
been Obliged to reduce their expenses TO the
lowest in order to few shllngs each week
Only few had come 10 Mr. BrnokerhOf's notice
which the account OF any person was withdrawn to
keep the depositor from actual restitution They could
Judge easily when person placed in these eircum
stances, for when man Is living upon deposits in the
savings banks, he nvartable draws 81 or " at regular
Mr. schel OF the Blocker Street Savings Bank had
not noticed any marked difference In the deposits and
Withdrawals during the past month, as compared with
those OF January 1873 As in the case OF nearly all the
other savings Institutions the accounts opened had In
creased though the amounts deposited were less me
secretary OF Mechanics and Traders Savings Bank,
in the BOwery said that there had been no very per
ceptibe change in their business Their transactions
were mostly with the higher class OF mechanics ana
small tradesmen and though February was almost the
dues month OF the year. they were unable 10 see that
their depostors were suffering at all.
The Dime Savings Bank in Canal-st reported that
less money had been deposited In January than usual
though had been opened. The PRESIDENT
thought that this indication that people who be-
fore spept all their earnings are now endeayorng 10
save very cheerful story Is told by the officers OF the
German Bank at FOurth-aye. and Fourteenth-st More
money was deposited in this bank during January than
during any previous month OF the existence OF the nstl
tuti0u Mr. Brown President OF the BOwery Bank, said
that OF the January interest had been drawn than
was usual aud number OF the depositors. he knew,
had drawn their money TO supply their Immediate
wants But the favorable report given by other banks
regarding deposits and Withdrawals wasreterated here
The Institution for the Savings OF Merchants CLERKS
was visited, and Mr. Warner, OF the officers said
that there certainly could be very little want among
their depOstOrs and there had been unusual demand
money during the past month Their deposltors are
clerks regular salaries. retired tradesmen VINO man
age 10 save something from their incomes and domes-
ties who also have fixed wages, ali Of whom would
make unusual efforts TO leave their bank accounts UNI
tonched