New-York tribune., 1879-04-16

pay 20 to 70 cents on the dollar so that the loss will be
not more than 70 per cent greiter " mem hhn nnS
stocks. II the results achieved oy SavnSs DaDhs De
averaged they most favorable among AL norcyea
EXPENSES SILL TOO HIGH.
Mr.. lamb considers hat The expenses Of savings
banks still larger than they need be- Hs
finds by comparison Of the cxOepses OF our slYInRs
banks with those Of oshcr states Se Massachusetts,
New Ham pshre, Connecticut aud SeN-JTfsey, tba mo
YorT Than i in any Of the states namsd IN the
English Scotch savings banks there IL creator ecru-
in conducting busIress tGan ~ those Of Ncy-
York The average. Toe eh"f t'm ~ dHrrrnec ~ mo
Of managing Now-YOk savings banks and those IN
England and Scotland I'm saare' Ihns me y nDnfkh
Savings Bans pays actuary aid assistant and s'x-
clerks and porter slGO7G salaries TIE Broad
way SAVINGS B1nH IN Sew-fOIk "tb 9y.Ooo l lO.-
its and 4OO6 accounts, pave its actuay alone 5000
The Pr0ydent Institution for Savings. M Boston ha,
SIs Gi7 900 on depOst nd 45432 accounts rs eK-
peuses last year 1896 % The Emigrsni In
dustIial SAVINGS Bank. IN New-York, has Sl6793,oo0
we're 45i ,5Si s1Trcs we're si5I7G Tc BroEiya
s0vngs Bank has sl57iOOoo on deposit and 3l.3g7
ssisries. S32.3iG "Gt present" Mr. Lamb
are foreeasting the future. predict that the
of interest pad 10 dep0si0rs VIII have TO be re-
dItuTcs IN savings banks be maintained ana tho
interest paid 10 their dep stors should be reuced the
criticism Oi managers that they are not faithful 10 ther
trust, nd not properly performing their duty to-
ward the people wnom they ought to serve VIII not 10
Tnc supcrntendent lays much emphasis on the re-
spOnslbiiies OF 'ru.te"s An intelligent ana honest
mau says viii nd no difficulty ~ discharglHg MS
duties as trustee OF savings bauk il he opens his eyes.
and N such position ne will mcur no Inability Tho
proposition proved to be uc by Not all the
savings DanAs nave failed, or are now laDgDlslnH.
Some of tine newer Oucsten years Old-dre among ne
sOuudcs the State. They large, out they arc
good. Some OF the Older ones my be reckoned
among the worst fallnfes. Success was achieved in
some by the capacity and ndey of the manageis The
architects OF the disasters ~ 0ets we're the trls'css:
known inefficient or dishonest board OF
trustees cOufess judgment, until the ruin was
wrought. When such CONDITION Of mIleondnet -
found, but one OF two courses II SAFE ana usefdL
Either the savings bank must be closed. the man
must he ousted nom their positions They usnsly
remOustrate against eAer act, they have. they
alway, aver, great faitn IN theInse yes"
Few OF the savings banks which erected banking
houses OF large AID az much cost have found these
buildings remuneratve. The total cost OF savings BANK
buildings IN the State u SS,573G6l Fl Fortunately
general savings bank law end u TINS sort
OF business The bonds OF towns IN the state have
proved To- be of the most Improbable ANA uu.oru-
nate Investments which savin-s banks have made,
especially chose given IN aid OF railroads Hundreds of
trousanG, OF dollars IN value OF such bonds Ne been
placed ~ jeopardy. Investment by tue attempted
repadlatiOH by towns OF their obligations The very
plOtracted dcpress ia business. and tine heavy aud
continued decline IN the rents and value Of real estate,
hayesycrely tested the investments OF savings baks IN
mortgages In the mlin ther have been very sit-fdc-
tnry results The p.rcent4gp o loss been small,
and wnrte loss has 60 any mater1 extent u mas
been irnct chiefly by the neglect incaparty or mis-
conduct OF the trustees IN making the original loans.
and the lack of proper care afer they were maze.
r,royes that loans upon nnprouctiye and
unlu proved real hazardous such property
apt have u speculative value whc1 NAV soon ana
greatly change Among the unprOductiye real estate,
churches should cIassed IL Is difficult TO reabzs
upon this property, II - acquired by savings BANK.
without loss To moderate extent tins l. true Of fac-
commercial value depends ~ large degree upon tho
continuance Of business IN them The sup 'rntrndent
suggests tIat NOR gage contracts should Oe IN gold
THE BANKRUPT SAVINGS BANKS.
Referring to bankrupt savings banks NJ. Lamb gives
n table showing the amount paid dspostors, and tho
sum which may be expected. From this statement the
following Information regarding savings Dahks "hioh
have failed in New-fork Cty ana Brooklyn Is con-
den@ed: