New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-15

The number OF savings banks reporting "ah"''iJ -
1888 Is l27-the same number rs on January l. 100
Thirteen savings banks are in process OIL Nou',"i'
liquidation The number OF saving banks engaged III
active busiuess on Jarulry | was III. "oln'e tue
passage Of the act of 1879 CHAP. 42D providing Tor me
closing and dissolution OF sayines bauk7' Tue
tendent says the repre- .entatiyeS OF eleven p'N ''
transferred the remaining deposits ana uhcripcu
dividends to me and have lccn di-chhrgeh lro" ~
respective trusts. There is now III my posSe''i'"
81 7O5 IS belonging to 1890 deposior+
In regard to iccciyershp abuses the 81 cTh'ehoo''
saws that the Fundamental principle OF supervisor" ~
that wrong practices will rot b. induge" III VIM iN
pending certainty OF exposure to pubic coute'"p'
ular reports, examinations ana thcH P"o''''''" ~"
only enable supervising officer to supplint &c power
with better method Of business but RESTRAIN anu COT
rect evil practices which sirons temptation o. pof'.
dishonesty might otherwise induce 1t seems strange
the report says, THAI reports mauc Nv INV
different receivers, under oatl, III re'poHsc ~
the same printed series OF dGe'tl"n'' Sn"u'"
NOT admit nj tohuIl;iou and cOmplri Oh yet sch ~ Tue
case am unable t. gather M vague hnoNm ~ 7,
their past and Ill more vague ucis % 'h'L'
there was tim IN the hs.oy oi me M
agernent of their funds to tie HSht or lu''c5' T,i
wnlr those funds are III ne "a rs ,t - crT roo an
aren't IN z OF thr hi,ttr. OF INC 'll'u
RrgIar ex limitations Of savings bank funds IN II"
hands of receivers should be- and annually reported
f. the Lcgis ature Othcr states nave Hd'l t''.
Now. YORK sh MD No one make study al ti'
folcd saynl- LaI k without pcr,civng how much bet
Ter would have been tOr drpO,lt1T, III MANY l''d.
bat the epDss been scaled 80 to render the hah'
"lrcnt and had they been alovcd inu' business
1.-The eminent success attending the -tllH| p-N'
In the only inst wnich II hech trSt III vi
state is a strong pr ictcal argument N 'aFot OF Pofu
ing DIV statute carrying Out wat en- ID ~ vac ~"
already. iccommc Id tnc pas a e. on ~" pl'A
| that Whenever 4 savings bank bcconcs inSolVel
through lie ,rcration o it, securities nom any v..i,
without fault the part 81 the ilst''r lyc Sup''
Court upon Application 0f mAiJIl{ OF t1c llu7,tH'
and TIE SUPERINTENDENT Of toe ohnAlhg u'P"Ioi,
shall ascertain the condition Oh lG 'tnH ~ ,irm or
Icrwi-e aud may, ~ is dl-crcilo Gnu az d.
der scaling the a AMOUNT que 20 .. & ,r inc cont
| the bank Solvent aud conitlns upon '"' ,rn,,tt
| power to remove tru- crs AMI 10 hpV,N'
MANAGEMENT OF tlc bank a. shat II cons rye the
interest ot its dcposlturs. IAc lFel'huit ''l "i'
should reduce the cXl cns"s 81 re- cNr -hIp- ~
I'm, fees of re- .civcrs: The ntgato1, Wuca 'lloi
ana attendant expenses cannot DE rcsuht u"' law ~"
best way 10 avoid the dsa-t,r- OF arccrN cup ~ ~
avoid II possible the rccoiycfsup Itself Inc "oIT'
| WRECKS fOund among the fulrd pLnh- I''"i''' ~"
aa R n 75 Z Gnac c PrcSnt rSnY
vcstInrut aud supervision, mo- 80 loi' "I''A ',',
| ani think the law suggested VIII prove Wise anu
Il" r'yiviu the business done in 1s-2 the supcru
dent says that increase or tue dcpur - Vas - ~ .
| 990. Tic increase In deposits ia Nc~-Io X tty was
90 al % Inc number ~ depo5itor, Larger bl
"a - t-c t,i,I being Ogjg7l. rnc total riu-ac
! actions. amounts Withdrawn and drpo'tcl' am'1uu
10 >290 40 je9-obout lol2 per cent more nan m 81
The average interest actually phH Wa 'o'2h - '.
crcrnte resource II the SAVINGS banks nave inciea-'
| SaqS79.g05. The expenses fr TIE year Is "rl'
creased S55s6O7l; The a-srcE,'c en-, sur u7 u!on ~,
marKet va Of sccIiitlcs ia sbObJo'--' uPo" P''
| value 70 H. SI922l,2I9. -
The superuteDdcut tnen taxes up me =! f."
Inrging Inc scope ~ ycstmruts. ana comes TO tue '"
| loving conclusions: ..,.- ,...-...t ,,
aud tho volume Of investment fund con-t AMY ulI'i
iug IL u evident tha dtctdcd enlargement 90 %
scope 81 investments must ~ sonc tll' h ~ 'l,'
time for 10 b. 1905 yet arIEci. our courts mona I''
10 -iIn-cut accountability for ic fc'I'l vt ''. .
| cin act4 Removing Reductions ~ {" lhF' 'iH'u
| wuud largely increase or r''i "' '."'''.' "l..
| render N am more difficult 60 -tt Lu"I me-
| IN ,r, ANY radical tnang- iu the Law would zen" u
dcprrcii It, the value ui securities now LcId since on
caI.c a.. rue hlgh or NUNS tucV command u tir A.
man ,tytus- bank, are PEELED % nay On M tHh
loviug wide range oi luvrstncLt voIlI nr i"''"'
sooner or latter bt taX.;on wnlCu j. properly '-''
so long us these banks tut-rd pure AZ prov ,'n
institutions Again fer that tlr uidt ol T.. h ID
| o rex involved would nearly couitrI ul.' TIC 81
| dtuonal GAIN to dcposItors Iu mt,rc-t earned