New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-03-04


Net increase since jan l. 1880 lO2.oo9 "a
savings bank has been organized application TO
organize made during Mr.. Psine's Administrations The
American Savings Bank OF the City Of New York author
lied January 81 1882. opened last December The
Morrisania Savings Bank having paid depostors in full
closed last year. The whole number Of savings
banks reporting to the Department 1917 At no time,
says tho superintendent the condition OF the savings in
situations been satisfactory at the present The pro-
portion Of surplus liabilities is large investments as
Whohavc never been Of such unexceptonabe character
and the cement of the banks so justly exempt from
criticism have yet to learn of any where attention
has been called to violation OF the present strict law
that cheerful compliance has been manifested
10 correct the error.
Tie amount due to depo-tors January l, 1884, was
Si3l 03O0l0, Increase Of 81 $50 797 during the
year. $40 25j al OF which was in the New-York City
banks and - 7Oo35O in those Of Kings County The in
from January July SsGs3 79t So and from
July 10 January S1O,249,O02 81. The aggregate Of
deposits received exclusive OF interest credited and
deposits Withdrawn during the year 1883 was S304,-
624,2OJ The total number Of depositors or open
counts January l, 1881 was 11i7 Jss. gam during
the year 5l6l7 The Of each at the
same period 1919 Gl, reduction OF Il cents
since January !, 1898
INyEsrNfENrs SURPLUS AND INTEREST.
Tho amount loaned on bond ana mortgage January J.
ISL was SOB 63O174 an increase within the year Of
S17,-l7SG0 fthe total amount, the banks Of New
York City hold 575 9Jll54. and those OF Kings County
S13,G2i GI9 The amount Invested IN real estate J1nu-
airy l. was at csima,eG market Y1Ua 81 l29 81, being
decrease during the ye8r OF S2Ol 500. The total de-
since January I, 1880 IS 2O) $40 The cash ON
hand and deposited January l. 1s3f was SiOl0G,7J5
an increase during the year Of Sl02s 800.
Tie total surplus based Oh market values January l.
1884 was 5000 500 On the par value Of stock in
yestens ard estimated market value Of real estate it
was at the date Sl9,Sl3l4t The increase during
the year on market value basis $7,37s 1872 and
par value basis 1921 $50 For the year 1883 the sum OF
Sl4724663 IN interest wac credited and paid 10 deposit
The average rate paid for the past year was O354
For the preceding year O355 The aggregate expenses
fer the year $50 S1444 500; for the year 1852
they 81 377. SOC and while IN increase OF S67OO3
IN amount shown the cost or the care or each account
remained exactly the same during The two years VIZ:
One dollar and twenty-sx cents. IN 1850 It Fl 81.
The superintendent devOtes some space 10 showing that
the savings benevolent, not charitable, nstu
os, ,i ~ " Lev cs5 S i yeyen psr ce"
of the entire actively employed circulation Of the country
aud more than double as much IN amount as the en-
re capital employed in the state by all Of the financial
large part OF tho report is devoted 70 history Of
savings bank investments logalZed nj different times
since the first established, and to consideration
Of arguments used and steps taken 20 broaden their scope
Of late; especially the Page bill which the Governor
vetoed last year. The superintendent URGENTLY recon-
menGs that the present hill he left unchanged
savings banks trustees Superintendent Paine suggests
the possible desra ly OF allowing them, under certain
conditions. small fixed pay
TRUST COMPANIES.
The reports Of twelve trust companies file With the
Department July l. 1874 show aggregate capital paid
In OF S11 752O4O At present there seventeen com
panes reporting the Department, the capital OF which
Il Sl3637 900. IL 1874 the total 3d.,
7lG1Og now they are S164,314ss7 the deposits then
were S3S. 40. 79l. they S127,7sl ,467. The
surplus other profits during the period have in
creased IRON - 797196 TO 213, 400 997, o gain OF
SS,GI2. sol During the year 1883 their assets IN
creased SoO425.539 L, and surplus and undivided
Profits 60 $50 563 II. AprOpOs OF the Carelessness
which has shown occasionally in granting charters
NAV arise I'm that manner the superintendent says
Article Of Constitution OF 1916 prohibited the
Legislature from granting special charters for banking
purposes; thi- article amended November g. 1874 pro-
hbts the granting Of any charter 70 institution for
savings other conforming 20 general law AID
In my iud gment the time has arrived fOr considering
the expedency or enactng general law to apply TO the
formation Of trust companies"
The report concludes follows: "When we regard Or
moment the socia force developed, the thrift and r
gqrv whlc our savings banks effected, wonder
no less az the results which they have achieved than az
the quiet manner in which they have performed the
work Il said that at the close OF the late war
between France and Germany the safety II nation
centred IN the stockings which held its savings. No
small element OF strength OF the Commonwealth is 10 be
round the Institutions FOR savings which guard the ae
foundations 81 the people with fidelity worthy OF all
praise which add usre among many features OF hes
social aud political economy TO the far name OF the I'm
pirc ctae.'