The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1888-09-27
REPORT OF THE INSPECTOR or
FINANCE.
INCREASING SAVINGS.

Deposits and Dopositors Dividends and
Earnings Accommodations, Loans, In
vestments, and Recommendations.
Through the courtesy of the Hon.
Carroll S. Page, State Inspector of F.
nance, we have before us the advance
sheets of his forthcoming report to the
Legislature. From it we take few ex-
corps, as follows:
"The whole number of depositDrs in
all the savings banks and trust compan-
les in the State at the date of the re-
ports, June 80, 1888, was $3.50, an in.
crease during the past year of no, be
ing S.067 more than there were two
years ago.
There was to the credit of such de-
positors on the thirtleth day of June
last Sl6,602. G61 16, showing an increase
in amount of deposits during the past
year of $l,015,0l6.S3, and in the past
two years OF $9,34S l0i.20.
"Of the total amount of deposits in the
different savings banks and trust com
panies, Sl3 SSS, lS6 60 belong to depus-
itors living in this State, being AN in
crease of bSSj 6i2 90 as compared with
1887, and Of 1883 229. 90 as compared
with 1886. The amount belonging to
nOn-residen;s is $2.7l3,SSl1l, being an
increase of 1929, 1913 81 as compared with
1887, and of S350,S74 33 as compared
with 1886.
THE average amount to the credit of
each depostor is S2SS G3, decrease of
$i.04 as compared with 1887.
THE reports show that Sj39, 9li SO
has seen credited to depositors accounts
for interest on deposits in savings
banks, not including trust companies,
and S2S, 100000 as dividends to stock
holders in trust companies, an increase
of 1923, 76l 90 over the amount credited
last year to depositors, and a decrease
of $50 in amount paid to stockholders.
1.-THE guaranty or surplus reserved !
agreeahly to act of 1894, amounted. !
June 30, 1888, to S40O Alb, an increase
of $50, 5l0.7l during the past year. and |
of 800, 079.20 since 1886; while the TO-
tai accumulations, including the sur
plus, undivided earnings and interest. |
amount to 1901 ,013 43, being Sl2j,S60 A |
more than last year.
During the past year there has been
an increase of Sl3S ,6Sl 0j in the amount |
loaned on mortgage security in the
State, and of 1897, S0l IS on mortgage
security out Of the State.
Loans on personal security have in
creased $2O2 25404. while loans to
towns, villages, ETC.. are SlG,22S, 10 more
than last year,
Loans on bank stocks have increased
$24, 1883 20.
The item of real estate owned has
increased from $2lS Al 96 last year to
1927, 06G 10, an incre Sc of IS, sol. 16 for
the year, aud SOL, 1904 over 1886.
State. city, county. town, village
and school bonds now amount to So
47j, 1887, showing an increase during
the year of $323, 1871 II, and of 1901 .040
50. as compared with 1856
There has been an increase of S2j,-
800 in amount of national bank stocks
owned as compared with 1897. and Of
S76.j96 as compared with 1886, the
amount now owned being 1891 500.
The amount of cash on deposit in
banks. mostly on interest. has increased
from $625.706 last year to 1868. 80 20
this year.
The amount invested in United
States bonds is $2jG,6l0 being de-
crease of 81 $50 as compared with 1897,
and S704OO as compared with 1856.
Cash on hand June 30, 1886, Sl44,-
$40 43; 1887 $l35,250 IS; 1888, Tl37,
$685."
The savings banks of Vermont are in
most respects models of financial man
agement. With scarcely an exception
they are in the hands of our most con
servative and substantial business men.
They have, as they deserve to have, the
of our people to such an ex ,,
tent that the average amount to the
credit OF each depnsitor is larger than in
any of the other New England States,
or New York, with the exception of
Rhode Island. in which State there is
not. as in Vermont, limit TO the
amount which may be received from
any one individual.
Il should, however, come short of c
what believe to be my duty, were to !
terminate my official relations with the /
savings banks OF Vermont without Civ s
ing expression TO my well settled con a
viction that trustees. in their anxiety to
pay their depositOrs liberal dividends, !
are in too many instances allowing the i
gudhty of their assets to fall below the ,
high standard which should he main ;
tanned. The large rates of interest =,
WllCu WfSleIn OOFTO"elS are dDIt - VI ! 4
fer are too attractive for the ordinary !,
investor to Withstand, and funds re-
ceived for the fine line of government +
and municipal bonds which have been a
during the past few years, +
have been re-invested, in by far too
many instances, in western mortgages.
To show the tendency in this direction
your attention is respectfully called to
the following facts shown 10y the saw !
ings bank reports for the past ten years.
The amount of western mortgages held
by the savings banks of Vermont on the =
Both day of June in the years 1919 to
1888 inclusive were as follows: