New-York tribune., 1891-12-29
SAVINGS BANK DEPOSITS.
The WITHDRAWALS THIS YEAR HEAVY.
MOST OF THE INSTITUTIONS, HOWEVER, SHOW
STEADY GROWTH IN THE NUMBER
AND ANoUNT OF ACCOUNTS.

MOST OF THE INSTITUTIONS, HoWEVER, SHOW
STEADY GROWTH IN THE NUMBER
AND AMOUNT OF ACCOUNTS.
There is perhaps surer pulse Of the general pros
perity OF the people than the savings banks At the
same time this pulse should be felt ntellgenty, and
the diagnosis should be made not hastily, from the
first Impression. but deliberately, after all the facts
have been taken into consideration II Is true that
many OF the largest savings banSs Of this city VIII
have less money on deposit on next Friday than they
had year ago, vet this fact Is not necessarily dis
oouragng Read in the light of further Inquiries
il j. really gratifying. In the first place. no bank
has suffered any marked decrease IN the number OF its
patrons. Indeed. nearly all have made gains In this
respect The proportion In the community of those
who use these institutions, therefore, remains almost
unchanged
The Withdrawals Of money were nearly all In large
sums Deposits of than 80, 900 by law receive
.he interest on that alone II is hence the
tom to draw out mounts which have reached that
figure and T. invest them elsewhere. This is ten
dency that is encouraged because savings banks are
not INTENDED for persons who count their wealth
by the thousands. such men and women can probably
earn interest from outside investments than the
banks can pay. Much OF the money withdrawn un-
doubedy goes into real estate. suburban or city, or
into building sociations, and thus the number Of
home owneis is increased.
While most OF the old and wealthy savings banks
show falling on IN deposits Tor loSl, most Ot thc
new ones, in parts of the city that are still grow
ing tell a pleasing story OF advance all along the
line. The Tribune herewith presents statements from
the officials of number OF Institutions which Will give
a good idea of the exact state OF affairs in savings
bank circles OF this city. The Bowery savings
Bank just north OF Grand St. is of the Oldest in
the city, and the largest in the country on July l.
II had S47l91 o52 on deposit due 107 440 depOs
itors. since January 1t has run behind on amount
due Its patrons. but there has been no marked va
ration In the number of customers. Edward Wood,
who is the president, said to reporter who asked
about the cause Of the Withdrawals OF money
Many persons have doubt bought suburban prop
erty which VIC advertised so extensively, and
others have gone into building associations.
Then people have become tmid account OF the at
tempted legislation concerning our banks. Several
bills which would harm these institutions were intro
duced at Albany last winter. While none Of them
became laws they unsettled the public confidence a
hit The BOwery was organized in 1884, and its
officers now are President, Edward Wood; first vice
presidept John p. Townsend second vice president,
Robert NJ Field; secretary, Robert Leonard assistant
secretary, Isaac p. MAILER.
The seaman's savings Bank is among the oldest In
the city, having been founded on May IL. 1929
originally its privileges were open After
ward however these restrictions were abolished. but
the bank still has about $500 seafaing men among
lis depositOrs, larger number than any other lnst
tntiOn in tie city IN idea OF the enormous business
done by this old Institution is given BY the TACT that
il has paid ont over S26OoOo0O in interest. 1t has
over 10000 open accounts, amounting to over $780,
600 600. II occupies commOdous Offices at Wall and
Pearl sts The president, William c. SturgeS thought
as Mr. Wood did about the causes of the decrease in
deposits. Daniel Barnes is the cashier, John H.
Roynton secretary and Silvanus F. Jenkins treasurer
The Emigrant Industrial savings Bank, at Nos 40
and 81 Chsmbers-st.. occupies an exceedingly hand
some building. In this it is like many other inst-
ttions of the kind in this city. james dwell Is pres
dent Of this bank, Eusene Kelly first vicepresdent
Tryan Lawrence second vice president and James
potke secretary The Emigrant numbers among its