Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1889-09-20

Thc Report of the Inspector Of Finance,
Advance sheets Of Hon Luther @.
Greene first annual report as State Inspect
or Of Finance for the year ending June %,
1851, show this report to be Of unusual in
terest and value Two new banks. the re
port says. have been organized during the .
year, the Randolph Savings bank, at West .
Randolph. and the lamoille County Saw
ings bank and Trust company, at Hyde .
Park making in all 20 savings banks and .
! trust companies in the state.
The amount loaned on mortgages of real |
estate in Vermont is 81, $3.50, jS1.2S, an in
crease during the year Of 1862 O9O.2l The |
amount loaned ON mortgages outside the |
state is S7,2lS. GGl 32 an increase Of SGji. |
SOB ST.
The total real estate acquired by fore.
closure is Sl2G, lG2.3S, an increase Of S23, |
03l 81, which is more than accounted for |
los two banks OF the total three banks |
hold SIS, IA js, and eighteen banks hold |
none. In his table Of classified summary |
Of assets the inspector has done a good |
thing in separating the real estate held |
hv foreclosure" from real estate owned for |
banking purposes, and reference TO this |
table shows that noLe Of the increase re
s.i ., 4. ,, e. ,,, ~ 1y-;,,,,lo,,,. ,.,,,,,+,. |
banks
The number Of depositors in all the saw
ings banks and trust companies is 81 7l9,
1850 per cent Of the total population, or
nearly one in FIVE. The increase in mum
her during the wear was 1899 The deposi.
tors resident in the state number "a, l2S,
and have deposits Amounting to S14 GRO
~ d, 900 So - M
'''-' 90 I
-, 'io',,,s,, a.,
nave ~ ,nel. c,e!'v ,9'o'''"'o'' Il" i,
'eaSe vi go, "'-.,'-' in' "'Vias' ~
''pos'. W, - 80 ~, Ia
''oi 80 w. 'ie NV ,'''''
10 uePs'CoiS III savings oAiiAs H'iou'l.eu ~
@''' '','''' q" III,
IL, ~ uS' o'i'ph'''eS 'e'e,,eu III
III w, al
Ihr average monthly gam ln deposits Ior 'h'
year was sluslaltlauS sIoo"'' ou' apr" SHOWS
ga'" "' S'''V''' yum l"u' 'a'iAs n'' 'ep', 'l"t'
NV" "l I"e "ai'AS nav ru'' ""' t"'e''''t ueP
/ JUS "' any '""H'''' '"i' '''''"""' '''''''''"'N "
,,,,,t, arI l'ti,r. -, ,,..,.si,s
vher. there are reasons to believe they are made
to avoid the tax list
These returns DO not JUSTIFY the othef that
| "'"heA lS utp"9'Ie" IH MarcH l" avon laNal'"h
anu "'"N" u"' "' Ap'" lui u'oIv Pu'''ao'' H.
''N'!'''" i"e 'lu'N,t'" W. ""''a''"" VI u'poS''S
anu 'AA"u""' nA'u'aS arising neI'' may W. ''"''
| properly considered in the report for 1880
ie s"'nsS "a''NS alu u'''s' CON PAINTS ol 'l'
and fnlIy concur in the. opinion Of nv pr,.r,,s,
sor that they are in most respects models Of good
management and worthy the confidence Of our
l""p'''
\ taole "hich Is gwen Vi tne lasu zen
years SHOWS Ihat theTe mas peeh sIealS
and nearly uniform increase IN amount OF
western mortgages held by tine savings
banks IN 100" the amount was Sl'-'N'-
~" IN lSS" 1t Is S'2lS'''l-ah increase
oil >oooo'oVo III round numbers Oh the
general suolect"I " esVerh loans MT ureehe
/ says
Western real estate loans have proved salts
factory thus far hut il is not all giltpgpd that
| offered under this head Eastern people unac-
uiaintrd with the country are apt tu include all n
one general classification when ia fact there is as
wide a difference ~ the value of farms west as 10
] vermont.
THE banks should scrutiuize closely every loan
offered one or NOR. Of the trustees or directors
or some experienced and conservative man in
their confidence should 90 West as often as once
every two years. and make personal inspection
as far as practicable of the property loaned
upon They should keep in touch with their
agents No individual would think Of investing
as large an amount as the banks do West without
personal examination upou the ground: much
less should those who are charged with the invest
inrnt of trust funds omit any of the ordinary pre-
cautions
.I,..;,l .,,.;..,. ., NJ, c,.,, all.
shoulu he eNerclseu Ill accepting clIS anu
suburban loans. With rare exceptions
these are less desirable than farm loans. -
because so many cities, small and great are
largely the product Of blooms The in
spector closes this part of his report by urg-
ing upon the public the fact that
The dav Of high rates of interest in those Dor
tions of the West where investments are consider
ed safe has gone by Life insurance companies
,oa. '',e' AlEey "a, S.A ll re',s ,'''u '''''
eight now command a premium at four and a half
To six per cent The result is that the banks and
investing public must lower their demands or ac
''i'' SECURITIES vi d uo"o''" ''A'n''9'
An a'' Oh the legislature Of 1865 paced
al "an anu investment companies uoins
business III the STATE uhder the supervisor
Oh Ihe inspector oil hhahce' ana maze II tnt