The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1874-01-10
EXTRACTS
FROM
The Twelfth Annual Report
or THE MANAGERS OF THE
MERCHANTS FARMERS AND me-
CHAhICS SAVINGS BARK
OF CHICAGO.

During the year 1873, 10, SCI Deposits
have been received and 1862 Drafts have
been paid The total amount drawn during
the year 1873 was only $50. 1926 more than
in 1872. notwithstanding the general tinan-
cial arrangements and the fact that, owing to
the stringency in the money markets of the
country during almost the entire year, many
ment or have received greatly reduced wages;
consequently the average of sums deposited,
as well as the gross amount received, has
been much less than during the year previous.
The average Of sums deposited in 1872 was
S73 IS those in 1878 averaged S66. 90.
The number Of deposit accounts on the
Ledgers is -, So, and the deposits now held
are classed as follows
Thirty-three per cent. Of the balances are
less than SO. 90, and average s. 400 each.
Though these small accounts frequently in
crease and run through all the other classes.
and are now the most numerous, less than
eleven thousand dollars would pay them in
full
Thirty two per cent. of the balances are
between 500 and $500, and average $2l997.
Seven per cent are from $500 to 81 1000
and average S64S.SS
Three per cent of the balances exceed
81 900, and average $2,172.45.
The nationalities of Depositors rank as to
numbers in the following order
lst. United States I'd. Irish. 3D. Ger
man. 4th Scandinavian. 9th. English.
9th Canadian eth Scotch sth Welsh
The number Of those born British subjects,
exclusive Of the Irish, number next after
Americans The next in order after the
Welsh are Italian, French, Belgian, Russian,
and Polish Australia, Mexico, Spain, East
and West Indies, Greece, and Circassia are
represented in the list.
Before the general suspension Of the Banks
of the country, IN September last, the cor
porations holding most Of the Savings De
posits in Chicago, by agreement, simultane-
Ously put in force their respective bylaws
under which notice may be required of the in
tention Of Depositors before drawing their
balances. This was done with a view Of pre-
venting runs upon these institutions by those
who might be alarmed, and for the protection
Of the interests Of far greater number who
were not disposed to interfere with. or EN-
funds or to urge the sale, and possible sac
rifce Of assets at an unfavorable tin
During the days Of panic, from Sept. 22,
and ending with that month, the daily pay
ments by this Bank averaged "a, $40 1t is
believed that depo>itors were, in all cases, |
supplied with what money they really need !
ell, and none were permitted to suffer. either
in person or property, from the want OF any
thing due them by this Bank. At the same
time alarm and excitement was allayed |
throughout the community by the general |
adoption ct these precautionary measures. |
Though notices were received from depositors |
Of this Bank for the withdrawal Of Sl5S. 900, |
only 81, 900 was actually called for under /
these notices.
From the 2cG 4 September, 1873. to the |
LIST day Of January, 1874 500, 697. a was
paid to depositors in the ordinary course Of /
bu iness, which is one. third less than the /
paid out dining the corresponding
period of 1872. The amount received on de- /
ppsit during the same time land deposits were |
received each day was Sll5,020 &C. This, |
with the amounts received from other sources,
very considerable amount collect
ed from MOI tgage loans served to keep up the |
proper reserves OF cash, and enables the Bank |
to enter upon the new year with unimpaired |
strength.
CONDITION AFTER CLOSE OF RTsINEss.
Dec. 81, 1873.
Deposits ......;;,;.. .-.....-... LOO, or -
Sl,lO2, 73S |
Loans Secured Improved Real Estates 53l, 573 %
VALUE or SECURITY:
Value Of Ground ............s 81, 30l, $50 90
V alue Of Buildings thereon. 65s, $500
81 $50, 245.OO
Burglar Proof S ,tes and Fixtures Of two
Ofices and Telegraph Line connecting. 1897 80
Loans and Demands secured BY Collateral
aud payable call. ..-............. l53 SAP q |
United States Illinois State,
and other public bonds and
available securities. 30, 10000
Cash in Vaults, and subject to
cheek. loV,Zf4A