New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-19


tors and the amounts of deposits. The principal
difficulty of the banks now is to find good invest
ments for their funds. State and municipal bonds
are very hgh-priced Government bonds pay a low
rate of interest. and the law restricting loans on
mortgages to 80 per cent of the value of the real
estate mort gaged limits operations in that form oil
investment.
CONDITION OF TIE VARIOUS BANKS.
One sign of growing prosperity Is the large
increase in the deposits in the savings bank lois the
testimony of ali the bank officials with whom reporters
Of TIKI TRIBUNE conversed day two ago. that they
have never before had such an influx OF money. Be-
ginning with the holidays and until the latter part OF
January toe deposits are always largely in excess OF
those of any period during the year IDS year
the from 10 TO 80 per cent In tue various
banks in excess of those OF last year. The depostor
comprise all classes OF the community 1t Is noticeable
In some OF the larger banks, that many OF
the sums deposited are considerably greater
In amount than usual The banks are hOI
anxious to these larger sums Tor the reason 'ha
It is difficult place money at the present time 10 au
vantage and also because in OF run these sums
suddenly demanded, might cause serious inconvenience
All the bank officials agree In saying That II Is dhoui'
to invest money securely that fair rate of interest
can be had There is very little demand on the savings
banks from persons who desire loans on DOnd an"
mortgage because the banks restricted to loans OF
90 per cent on the value OF real estate state ana mum
cip bonds are hard to buy and HIGH aud Governments
bonds Of all descriptions pay very low interest "ne
the mar ket price is taken into consideration.
Controller David Lcdwith, Of the Emigrant Industrial
Savings Bank said that there always steady In
crease i'm its deposits for the last few months ana
especially since December %. the increase was hoaoe
The percentage Of increase the case OF the large
banks would not be great as in the small ones III
their own ease they their full force employed ana
a.. nhnFn
investing large sums money well at the present time
state and municipal bonds which paid fan rate Of n-
tcrcst sold at a considerable premium, which
practically reduced the rate OF interest because
Of the legal restriction allowing savings banks to loan
only 80 per of the market value oi real este '
was little to be done the way Of mortgages Most OF
these were secured by life and fire insurance CON-
panes or by private persons There were always
Government bonds to fall back upOn' however
C. A. whitney, secretary Of the East side SaVihHs
Bank said their increase IN deposits over last year
was very noticeable. THis was especially the case since
January /. They had difficulty ~ loaung OUT iher
available funds There nothing doing III mortgages
worth mentioning. and State and Municipal nonds were
scarce and hghpnced They had invested In city bonds
purchased Government bonds ard had loaned on Gov
eminent colaterals. and In this way had managed 10
keep the most Of thcir funds eIgpioyed
Seymour A. Bunce secretary OF The Citizens Savings
Bank said their deposits for some Time BACK
Der of deposltors was greater and the amount o. de4-
Us larger lie had never known time when the de-
posils were greater than The only drawback WIS
the difficulty OF investing tie 1unds so a. 10 oblMh an
ADEQUATE return. Fortunately the Ctizeus hAd con
siderab amount invested IN United States ana olher
bonds having a long time 20 run. and these wero
purcnased M or near uar Then there the bonds
of the late Government loan. paying four and four and
one-haf per cent interest which could bee purchased.
stu there was difficulty in obiainng fair rate Of
interest with perfect security
An official OF the Irving savings Bank said that their
increase in deposits unprecedented The Increase
thus far for the month Of January iuy J3 per cent
over last year For the month OF December alone INC
deposits exceeded the withdraw By over S57
coo
Henry Lyles. f.. president Of the Bowcry Savings
Bank said our business Is increasing al the ihte'
on January we had 200 counter transactions Dur
Ing the sx months from July 1879. to January. lssO,
we opened $3.50 new accounts There we're
5.q5j closed In That time The present number
Of accounts is 1902. inc amount due deposlfors
Is S35O234s2 o. THIS isan increase in deposits snc-
Ju.yo S15IlIGl99 Hisveiy evident from this that
the class Of people who form customers are much
more uro.pcrous than they The great difficulty
is IA making Investments. Nohiug is open except gov
crnmcnts. We hold S.oO0ooOO o. them nc par,
s7JOOO00 being in currency SKIES, worth - per cent
,rcu,,n We have surplus u - 1Gi57j. the rccuri.
trs for which 81 taken - their market value would
,roosuf 10 u.arl, - 900 ODD Tire following staten
for ! .uuary l. l,SO, has Just been prepared;
Resources Liabilities.
Bond. and mortgages ....-..... i.A11tt-
sock ... ................ .".riO.tDo
Banking house and lot ....... 1900 %
Real estate