The clarion. [volume] (Jackson, Miss.) 1883-1888, 1884-05-21
What : Saving Fund shows.

A copy OF the last Annual Report OF
the Philadelphia Saving Fund Society
exhibits a number of interesting features
of the kind that the Ledger has from
time to time laid before its readers with
regard to this institution, the Western
and others. This interest is not so much
in the magnitude of the deposits, as
these are less in Philadelphia than in
some othes cities, because of our numer-
Gus Building Associations, which are
saving Funds under another name. Stillt
the amount of money on deposit in this
Philadelphia Saving Fund is very
great, considering our Building Society
operations and the class of persons by
whom the deposited savings are made
On the first day of January of this year
the number of depositors, or rather the
number of deposit accounts, in the Phlla-
delphia Society was "a, 485. That. with
some deductions for duplicated accounts,
trust deposits, &C., represents the num-
Der of thrifty persons who have made
themselves forehanded in their money
affairs-the number who prepared for
the ''rainy day" The amount of money
to the credit of these depositors is S23,-
391, 703, including S612, lis or interest
estimated, but which was not then calcu-
culated. Besides this, they have at
their back as a surplus contingent
fund" of 81 ,601 ,797, making the total
assets Of the society $24 993, 800. This
surplus" is the difference between the
earnings of the Fund and the interest
paid, and Is the protection from loss to
deDositors in case there should be any
depreciation of the mortgages, Govern
ment, State, city and other securities in
which the assets are invested. 1t is we'll
to say, however, that the protecting
surplus, because of the very safe char
acter of the investments, has gone
through number of business depress-
ions and panics in the last fifty years
unscathed, and has grown in proportion
to the deposits to be protected. The
same can be said of the Western and
perhaps Others.
in the year 1888 there were 135, 307
separate deposits, and of these there were
IS, III in sums ranging from one dollar
to thirty, so it will be seen the depositors
are not of the class of "moneyed people,"
except in the limited way of being in
possession of ready funds for emergen-
cies. Precisely what kind of useful
people they are is indicted in that table
of the report which gives the occupations
of the -, 726 new depositors who opened
accounts last year Of these 11,069
we're men or boys whe were mechanics,
artisans, weavers, labOrers, porters,
walters, coachmen, carmen, draymen,,
policemen, watchmen, sailors, soldiers
shopkeepers, traders, farmers, gardeners,
agents, clerks, statesmen, teachers, and
some professional men. Among the
II ,657 women and young girls who open
ed accounts in 1888 were dOmestics,
seamstresses, market women, nurses,
shOpkeepers operatives teachers, widows,
single-wOmen and housekeepers-th
last mentioned (housekeepers) being
about FIVE thousand in number. Much
other interesting matter is found in the
details of the Report, such as the "signs
of the times" exhibited in the increase
or falling off of the deposits the figures
afford an unfailing index to prosperous
or "dull' times among employes-and
the almost continuous increase of the
aggregate balance to the credit of depOs-
itors from year to year; but the fore
going will give an idea as to what such a
Saving Fund means'-Philadelphia Led
ger.