, 1875-08-05

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nE him rnpltatist.
TIE ruEDnY or sAvINhs RANKS
is sfmpEs rH0ugh for the cnHlprohesAlnh o. tHe
iueHt tlcrosltor. A b,iAy community In "HicH
improvements arc contantly Eo'na to'wara n1raw ="
The security which II oner8 Ia ample ~ tne
eare Of Individuals II nay bo nortgsEe upon
real estate which It In dnairod TO Improve. ~
governments. like Cook County and lilinolr i
lnsy 10 official tDnda tackod by ehe pfopaltv eha
tho good faith OF such municipality OF eoVerh.
ment. y, Long ~ tie sea.lfty 70 a"h,e ;, nnsss
or ia ab!o and willing to ph7 specified amount
OF in,croat, II cvery man were hls own banker,
h,,ch borrowing while not "l"'ly s'npract,eabio.
conIl not bo possIb!n 70 TUG extent Which tli'
tivo. banks servo TO concentrate capital, ehd
thoro worthy borrowers will rni the nutns they
need. sqnvings hnnks perform double E,,,nh
sssg'e osn IN Ty .sss 'eTi"" Ts ersea IL ss bossss s
tha interest tlloy pay and the iutetcet they re-
ceive gives them q margin from "hich the az
rensos OF tho institution arc paid, leaving sum
larger smaller according to tia h,tctess OF tho
bank, TO la divided HI profits among tLh stock
holders. 1t u pnrcly buslness proceeding;
hut it la atte1lded With Bucl benecont results IN
every direction ~ to be fairly entitled to be
called rliIanshroplc. For tic deposstor there lH
his money moul. bo In danger Of loaa or theft or
lis ouu mproyIdence. II would bo inert, neither
ealniag hun ansth.ng, nor being Of teryce to
ANY one oEe. Ills Earrings, added to t!lohe Of
tl,uuhsnds IT othors III a aafo and common ro-
ponltory, creates \ mighty volume OF mouey,
which, loaned again. keeps IN circulation to tho
immense bet ott OF the industry. commerce, and
woalli, Of tho community. 1'llofo IN, therefore,
a brneft all rou1a.--a benefit TO Tie dcposlior,
tho borrower, aud tho banker.
TIIH HTATE sAvlsUs INSTITUTION.
With sufficient capital on which to commence
operations and guarantee good faith, With "iHe
and prudent management, and oven moderate
custom. Basnga banks are efcceaaful in their
operations. and nro OF vaBt service IN tho COM
uiunity. Chicago points with pride 10 tho stato
Savings Institution. It Ia the Leading bnnk OF
its kind tn tha Weat, aud who csr calculate tho
good it has done In tho eighteen yearB nf its On.
tabii1hmont Statistics Ut 1tb business ase I'LL
deed in oxlstence, but fts moral work, not the
purpose but the corlain accompaniment u ltn
mission. iB not Written in books Ut record, atd
who can any how many men II saved from ill.,
povcTAhmunt, how many women from HlHeiv,
how many children from untIn,nlv Etsyas Who
can cHtisnalo how lnauy inti''etrioH II Inns saved
from rulLs, hnw mnny business. hotisos 1t has
aidcd in tho hour OF their soront nred II ia
possible to ascertain ths number Of dcposltors
tho bAnk Inns had, hut how measure thu AuIslIuo
which il han basn tho msAua Of admitting into
many daEkonea home?
Tic history Of tho State 8syiuEp institution
Ia full OF absorbing interest. 1t has pushed for
ward 40 steadily from modoat hegnninGs to ite
present proud place, 1t EaA outfi1den 30 many
financial ntorms, 1t haa been no like tho taanlRn-
der tired In fire. It has been 90 ablS managed,
and 1t hnB been tho trousuf o.houHe OF 80 snRny
Of our people, that it and its Fecord seem like
nometl.ing to which We n,irbt lay claim IA uear
and dear 10 us. It In. anido from It's technical
name, local inBtitntiun. Tho measure of Its
proHper1Ly lah marked the cltYB increase IN pop
nlation and wealth. Let iii
GLANCE RACK AT 1rH HISTORY.
It Was opened with moderAte but sufficient
| capth, znd euhic,eutly moderate expectations
Ant4.v
tion In Methodist Church lsock GU Washington
| street. Just EouEd tue curner from CLARK, ItwaA
! somct}llug novel for Chicago, for It was tho first
venture in that branch ot banking which tho
Garden City had seen, and las, among its other
| dis.in ctions Of today, Tim houor Of buing tho
Oldest awnings bauk IN tho city. Tho deposits
were not sarge at iirht hut have steadily incrcaR-
ed, for tho pcoples contldoncc it, ltlo institution
Las sheen proudly nerte ut tnxiiy grave occasloa.
FIRST canlo the run q 1SGl: followed in Their
order lv tlloao Of 'G,. CT, Gs. '73 mud tito post-
ire tla - OF II. A. all tloHo periods public
confidence wss shaken III banks generally, and
dcposltors were eager to Eet tl,cir credits into
STATE provided ia i.B bylaws for what ls known
an tho Aixsy-day rulo, requirement that, II the
olicela OF the bank seo it, deposisore shall give
III writing potlce f0t tllo nnmber Ut dars mon
toned Of their intention to Withdraw shois do
posile. or nuy part Of them. Knowing thor
| oue4Iy its fcaourceg, tho officers Of tho hanl
fearad no rurs. Tnoy might Inconvenience, bu
they could not break, the bank, ard through a!
thesc trying tines i'oyer once did they call fo
te enforcement Of tho 1ulo. aforo thru this. the,
facilitated the offoltH Of dcpositorb 10 Withdraw
going to tits o1pe"bo Of additional clerical hai,
10 at,ain this eild. and keopinR open their door
from dawn through daylight, and dcop into th
| yloam,pg. ii, tho face Of Blich cnnidenco ii
thla uvon tho palt of tho officers of tho bank do
poB.lors became roassted md IN each case t
runs wefo Of nhors duration. 1t MIS- noll
record IN each instance, but 1t was during th
of 1871 that The humanity aud spirit Of th
banks officers sElone nloai Gouapicuous'y. The
wnyo days Of disaster, doubt, despair. Tho poo
suffered with tho rich, tho rich with the pooK
did not spare tho bauk-took Of tho .avit,gs dc
positor. llero WAS al opportunity 'or Ii
S.ate, II it wero 10 da}n,sed, 10 stayo oI
applicants by demanding tla production Of ths'
evidences OF depoatt. but 1t reaorted to no sUc
p!su. It had sllared In tho common lues. llo
badly 1t wan Binitton It then hardly knew, but
did not propose to gain ttno for looking into IL
Affairs BY prolonging tho suffering OF the elai1
ants upon 1t. aud INSTANTLY, aud with GoneroH:t
which iB remembered to this dav. took IL
chancoa Of being defrau',cd. aud paid each appl
| can't, on hia own asAortion OF identify LII IL
: poaitor. the sum Of +20. A few days after,
. adopted the plan Of paying every depo.itor vii
: applied, in full on presentation ri his or h,
book. Thua tho bank aided. instead Of impede.
its customers, anta thus 1t continued thu rccos
= which up 10 TINT time Il had made,-a aecord
still makes. and a record which, Wllile tho pro-
cn& admirable management lusts, 1t uust slaa'
. make, tho record, namely, ot paying prompt
Que hundred conts OH the dollar.
. iNcIEAHE OF BUslNRAs.
Since the dato Of tho HlAl8H establishment |
business tlas, nj has been sad. lnCrcased year
year, until now Il has tho largest topoa,t Ut a.
/. sAvingH tatlk in the West. In 1861 tho deposi
amounted to $l5o,0uo, in 1Bc5 to *7u0. .ooO. Al
in 1870 10 e., ,DUD, 900. To-day they havo reacht
tho mammoth proportions OF IS, 835, QUO. Throu.
all thesr ycarn tho business iu tbs aggregate Ii
boon colossal. vince it has had dealings with os
i hundred thousand persons. and handled
: gross between $40. 900 900 and $5u GGU, 900. tt
, ptebent financial condition Of tho inHttution
= abundantly illustrated by Its seventy first auz
terly atatotnent, made at tho cloao Of business
: Juno 50 OF the current ycax. In full, 1t u
< follows:
- ! AE8oUnCkA. ...
Mortgsgs loans on real eststo, ,hlI 81
Tins loans ou col]aterals. ............... GI5.l
Dr.nsnd Ioans on collaer11s ...........,. Sl.,-H
n United htatea lurt4, GssHt
: Bouth Park bo,la l0I, ,N1.
! i H. Il 10