Morning journal and courier., 1882-01-06
The Banks of the State.
what the Commissioners Say-Satisf
 4r

What the Commissioners Say-satistac-
 tory State of Facts.
 The Bank Commissioners in their report to the Legislature note marked improvement ln the condition of the savings banks of the State,-more marked than any year since the late financial depression. Deposits and the number of depositorsshave increased. Inter est upon loans is more promptly met
 Judicious investments in ready convertible assets aggregating several millions of dollars have been made. Reproductive real estate. to large amount, has been placed in condi- tion to yield an income. These and many other indications point unerringly to g healthy and gratifying advancement in ma terial prosperity. There are eighty-five say ings banks, no change during the year. The
 Dime at Middletown and the Savings bank
 at Eastford are, by their own officers, grad
 ually winding up their affairs. A
 summary shows that the savings banks
 have loaned $2,972, 203 less on real estate
 than during the year 1880 (fscal) and
 have invested $521, 743 less in United States
 bonds. At the same time the banks own S27o, 541 15 more in real estate. The largest | increase in any one item of money loaned is
 
 being $2,07S, ,039.4S. There has been an
 increase in investments in railroad stocks
 and bonds of $1,787, 215; in State, town,
 city and corporation bonds of $1, $50, 563 The total resources of the banks have in ! creased $7, sos, 424 21. The deposits have I increased $4,oo3 729.96 and the interest | $1S0, ,819 G6
 Seven trust companies doing banking business have assets of $4,319,17s.5 57 and | three dealing in real estate securities have
 assets of S6, 348, 4SS.3 39. The aggregate fo1
 the two years is an increase of 21, ,145 ir the number of depositors and ST.. 679, ,S57.4S. The number of depositors whose accounts are less than $500
 has increased S,961 during the year, and the aggregate increase of deposits in this class ! amounts to $1.240 3s5.60. During the last two years the number of these small deposi
 tors has increased 18,369, with deposits
 amounting to $3, 29O, 772.5o The total num-
 Der of depositors is 225,36 and the aggre- gate of their deposits $8O, 522, ,3OOs7. The aggregate of loans upon real estate is $39, 906 955.52, decrease during the year
 of $2, ,992, ,2O3.91. This sum being the net | decrease does not accurately represent the
 amount of mortgage loans paid. To it must be added the amount of new loans, and al lowance made for foreclosures during the year. The call for real estate loans of a char acter to justify the banks in making them
 continues to be infrequent and is affected somewhat by other moneyed institutions which are not restricted to an amount equal
 to one-half the appraised value of the prop erty. In some instances concessions in rates
 have been made which has been the cause ot the withdrawal from the savings banks of de- sirable loans. With the purchases of the past year, and including loans upon stocks and bonds to the
 amount of $4 ,O45, 134. 84, the savings banks | now hold $31, 692, ,373. 23 in securities which can be readily converted into cash and they
 have cash on hand amounting to $3, 731, ,882.- 46, considerable portion of which IS on de posit with banks on call and drawing on an average about two per cent. interest.
 The income received during the year az gregates $4 ,407, 796.49, an increase over the previous year of $224, ,o41.61. Calling the average amount of assets held during the year eighty.two million dollars, the interest received is fraction over five and one-third per cent. upon the amount, which includes ! uninvested and unproductive resources The income from real estate has slightly in- creased and the assets yielding no income have decreased $416, 367. S9. This is almost wholly owing to the improved condition o1 the'real estate taken by foreclosure. Wher it came into possession of the banks the buildings were very generally out of repair and the income has been largely used in put ting the property in rentable condition. The improvements made not only add to the val ue of the property, but largely increase itf
 productiveness.
 The dividends declared during the year ! amount to $3, ITO, ,592.78. an increase over l the previous year of SIPS, ,577. .92, and are fraction over four per cent. upon the average 1 amount of deposits for the year. Four pel cent. and over was paid upon $8O, ,O31, ,959.2s The Suffield Savings bank and the Free
 stone Savings bank of Portland paid six per cent interest In the Townsend Savings bank some bonds have advanced in value. This is shown in the summary: