The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-07-20


1850 '' s2767,62O 15,OO8,8l3 s7766ss3
Tie diminution in the deposits during
1S79-S0-S1 was caused by heavy failures and
business troubles generally, but since that
time there has been a steady growth each
wear. which is due principally to the fact
that there has been State supervision over
the banks by the Board of Commissioners.
The main features of this branch of bank
ing is to invest the money Ut the masses on
frst-claSs securities only. This rule has
been closely followed during the past ten
years, which is the best evidence OF the
healthy condition Of these institutions dur
ing these years.
The deposits of the San Francisco savings
banks on July l, 1880, amounted to SAL, 3S5,-
eco, and On July 1st inst, 10 So, 757, go, be-
ing an increase Of 100 per cent in ten years.
There has been an increase of nearly So
0OO,O00 for the fiscal year from July l, 1889,
to July I, 1890, which outranks all previous
years.
A savings bank is a depository which
induces people to set aside their surplus
earnings, or in other words it offers them
interest for their money, holds ii for safe
keeping and manages the investment OF the
same.
1t also teaches economy which would not
otherwise be thought Of. aud is to-day one
Of the most popular institutions IN the
country.
Aggregate loans have been effected by the
San Francisco saving banks as follow 4:
On frst-class real estate security, $50, 909-
COL; stocks, warrants and bonds, 81, 745, 7I3 :;
invested in stocks, bonds and warrants,
S14,693, 1874; loans on other securities, S155.-
7S7. The money on hand and in other banks
amounts to 81, SCI, 434, while the aggregate
capital, fully paid up, is IS, S35 and the
reserve fund, which is an important item,
is at the snug amount of s., ga. 594.
1t will be borne in mind that the invest
ment in bonds and stocks should be imme-
diately available in case Of an emergency,
and taking these Investment and loans on
stocks and bonds into consideration the
banks have assets Immediately available to
meet liabilities to the public of 81 per
cent, which is a remarkably good showing.
This includes time loans.
THE SAVINGS AND LOAN SOCIETY
Was organized in July, 1857, which makes
it the oldest savings bank In the State. On
the first OF January, 1858, it had public de-
posts amounting to $4,000. This was the
sum total of the deposits of the people of
the State Of California in a savings bank
at that da! e. On June Both last it held, ac-
c0rding to its public statement filed with
the Bank Commissioners, deposits to the
amodnt of s., 1856, So Il, against which there
are resources amounting to S5,376, 42l. The
capital and reserve fund now amounts TO
SS76,699
In accordance with the provisions of an
act of the Legislature, approved April II,
1862, il was re-incorporated, since which
time it has steadily advanced in wealth and
now shows psid-up capital and surplus Of
nearly S1.000000.
Deposits of 81 and upward are received,
which can only be drawn by the signature
Of the party in whose name the account is
opened.
The bylaws of the bank have been
amended SO that after the 1st inst. Term
deposits will be received for S100 and up
ward, subject to six months notice before
their withdrawal" Any existing deposition
of 500 or more may change his or her ac-
count without loss of interest from ordinary
to term by transferring same and taking g
new book.
Attention is also directed to the fact that
the paid up capital and reserve fund form
proportion to the liabilities to depositor;
of one dollar to over five, far greater pro
portion than that shown by similar institu-
tons. s. G. Bigelow Is President, Ar
thur A. Smith Vice-President, and Cyrus
w. Germany Cashier and Secretary.
The bank has occupied its present quar-
tiers for the last thirty years. 1t will re-
move into its new commodious quarters
northwest corner of Montgomery and SUIT
ter streets, on or before 1st of October next
This location is known as the clock corner
MUTUAL SAVINGS BANK.
The success of this Institution since It'll
opening on the 10th Of February last may
be attributed 70 two sources, viz, the UNI
limited wealth of its Directors and stock
holders and the popular esteem in which
the cashier is held in this city and through
out the State. Il has capital fully paid VI
of $500, 600, and during the few months o.
its existence has accumulated deposits
to the amount of S433,516 81, which is g
gratifying showing for so short time. Tb'
business of the bank is conducted on {
plan similar to the San Francisco Savings
Union, which is model system In its entire
working.
"'he directorate is composed Of wealthy
and well-knOwn men as follows: Jane:
G. Fair, President; James Phelan, Vice.
President; Edward Barron, j. A. Hooper
C. G. Hooker, James Moffitt, S. G. Murphy
(Vice- Presidency, Charles Cadwalader and
James D. Phelan. Ex-Bank Commissioner
James A. Thompson is cashier.
MIR. Thompson brought into the bank In
terror experience and considerable knowl
edge Of the values OF property Throughout
the State that will readily present to the de
positors the assurance that their money vii
be judiciously invested.
HBERNIA SAVINGS AND LOAN SOCIETY
OF the thirty-seyen savings banks doinI
business on the Pacific Coast this conserva
tive Institution is the largest. 1t has TO
many years proved itself to be not only
safe depository for the savings Of the masses
but an important factor in building up thu
10y ohu doolSIluB III It's BcucIal piOoPclity
The figures taken from the public Statement
which have already appeared in the columns
OF IHE CALL speak for themselves and TO
the 1udlcious management on the part O.
the officers Of the bank. At the close o
business on the Both OF June last it held oil
deposit $25, 227, GOT IS, which is So, 775, 467 4
larger than the deposits of any other say
ings bank do ing business in the State. Tn
reserve fund, which in this case is the mon e,
Of the corporation and stockholders flor IN
bank has no capltaD. as is the case in nearly
all the other institutions of the State, figure
up to the enormous sum of Sl,S48,S31 N
The entire resources of the bank amount Il
$27, 1876 697. A dividend of AZ per cent ha
been paid for the fiscal year ending on tn
e0th of June.
James r. Kelly is the President and Rot
ert j. Tobin Secretary.
The Hibernia owns the building at pre-:
ent occupied by it and is building fin
structure on the corner Of McAllister an
Jones streets, which, when completed, wi
be the most substantial building in the city
SAN FRANCISCO SAVINGS UNION
Is one of the largest savings banks in th
country, having on the goth OF June las
-.og,dI,,o n Ifa nuhIic sfatement filed Will