The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-18

discounts and surplus snow the wealth and
TSSe repof RI 'Y tho o! banks
show most strikingly the increased. wealth, and
New York The capital invested in the banks
belongs almost. entirely to the inhabitants of
savings ssSfs or bans saying out 5ne
on check under State or national charter, are
part OF the surplus, working capital. and saw
ings OF the business men and working people
OF tho city. The increase OF deposits in tic
savings banks proves the advance of the city
money in a savings bank are, with few eXcep-
tons. workingmen and small shop Keepers.
The 10y rate OF interest PAD py theSe Inslitu;
working capital In addition TO this, 1t has
boen the rule OF savings bank Boards OF Direct
sums larger than specified amount by a reduC.
ton OF the rate ofinerest on all excess over that
fusai to accept them. 1t is the small savings
tradesmen that, driobled in from time TO time
make up the gigantic totals of saving banks
statistios In broad sense, 1t may be said
that every dollar, of these sums r,SSpresents a
won. The Increase in the amount Of
sfv9 9Ss The mSn w mRoF' hs
an account in o savings bank Will not resort to
vile dens He will seek pleasure in library,
Backed by the sum he has laid safely aside he
will be more Independent and manly: he will
great calamity he will seek better paw and be-
come more worthy Of it and more likely to OBJ
tain + on 1s az o the 6 the re-
partment, the amount deposited in the twenty
nve savings banks OF Neww York l city had
surplus fund OF the Institutions themselves
amounted to $50 1854. The number of de-
preceding credited to their accounts $1.31SO29
During the ten years intervening between
1850 and 1890 the number OF savings banks in
this city has remained stationary. The two
that have been started since then took the
liquidation. None has failed II has been the
tendency to swell still larger the, deposits of
the true and tried instit2tlons.i Inc increase
their deposits has been out OF nroportion to the
increase In the population. On July l, 1889.
to s54 764. 07l. more than double that OF 1880.
Their deposits had reached the enormous
OF S30l am as 7S doG 5 lSs2
was in suite Of tho fact that the rate OF interest
had fallen from an average OF over a per cent.
in 1850, to an average OF less than "a per cent.
In 1889.
BANKS AND FINANCIAL INSTITUTIONS.
Tho number OF State banks during this time
charter. it seems. is preferred by small banks,
aud almost all that have started in the past |
hsd an 9Enb eapta The OF o.
fiscal year, sept. 80; 1880 was twenty-three. |
The combined capital was 81 ,s2j.2OO, with a |
profits amounting 10 '$i,77s,GOS: There, was
due depositors S35 43l $50, and their total re- |
Of the fiscal year sept 80. 1889. there we're in |
existence forty-iour state banks, with a capital !
q 3G2G Ihe sdrp r1t m ted oe to
The total resources had almost trehled. Sl67,-
a25 ,933. Of which there was due depositors
In 1880 trust and mortgage companies and
the various kinds of guarantee companies.
while in several cases e, already showing large
pared with those OF to-day. Tho nine then in
existence had a capital Of .$ll,o0O,OOo, sur
of $95.s55.GO4. The growth Of this form OF
financial activity illustrl : the promp;ness
zed and the Of the gain 10 be- S derived
In 1890 the number OF these institutions had
increased to nineteen, with capital OF SIG
$50. 900 and an aggregate surplus OF S2i965.-
O9.O72970 Their number is on the rapid
Increase. tempted by tho large returns shown
~ the older ones
TRANSIT FACILITIES NOW AND THEN.
The increase in the size Of the city and the
great addition to its population has made nec-
abilities have not increased in proportion TO
he population. There are few more street car
Ines now, than there were in 1880 The Broad
EN- and the annexed district, but that is all.
The elevated railroad south OF the Harlem was
Three or four new stations have been but tub Wp
y y the west side. at battery place. and at
4ee bat there are "ps sw F sSa6nss
n improvements. The great increase
q the travel over this road shows how the pop
Ilation of the city has been growing and how
much greater Is the tendency for a man to live
evcral mi les from his work. In $50 the total
um Der of passengers carried on the elevated
Dads was only GU.o31 1877. Last year there
7ere almost five times that number. 1887
80: The growth has been on both the west
nd the east sides. though mostly on the east
lde. -, This years figures indicate that
y the end OF tho present rail road
ear 2OO,0OO, 1000 passengers will have
cen carried. This includes only the
asSenRers who pay their fares and not the
900 employees OF the road. the police. the Fire
'epartment, ana people with passes. all OF
HON travel free. Below Is n table showing In
etail the travel over the elevated roads,
Tnt1Js