The Lamar register., 1892-02-06
COLORADO SAVINGS BANKS.
THEIR REMARKABLE GROWTH
IN THE PAST FIVE YEARS.

| II Is interesting to watch the growth
oi new community and the develop-
ment OF new state, and to note how
various enterprises and institutions
arise as they are needed. MANY who
viii rend this have been active pro-
moters OF the social, political, indus
trial and mercantile progress OF Colo
rado. and remember distinctly its va
rious stages of evolution. II we were
to select any one kind OF business by
which to measure this advancement.
perhaps we could not do better than
to study the history of Colorado banks.
ms money is the very lie blood OF
trade. am not prepared TO attempt
so broad an investigation, but will take
up one branch of banking and present
some significant facts and figures in
relation to savings banks.
In newly settled country and n
transitional state Of society there is no
room for savings banks. They come
along with n stable condition OF affairs
and tho development OF permanent in
dustries. Their advent in Colorado is
one OF the many signs Of the new or
der Of thiugs iha, will soon make the
conditions OF life hero very much the
same rs they aro in The older d districts
OF the East. There will be fewer op-
pOrtunitics to make money rapidly,
aloug with better facilities for saving,
While there were some attempts, or
feelcrs, In that direction before. the
era OF savings banks in Colorado
practically dates back less than ave
years.
By way Of preface. let me say few
words In regard 10 the general subject
OF savings banks. The system, itself.
Is cnly 81 years old, the first savings
bank having been established In Eng
land in 1901. The first 10 the United
States dates back To 1916.
In both Franco and England there
are savings banks in connection With
the public schools. and this plan is al
ready introduced into many parts OF
the United States. with good prospects
oi becoming general in tho course OF
time. England has postal savings
banks, aud also penny banks which
are very largely Pa;ronized. Germany
was tho first TO Introduce the stamp
savings system. by which small sums
Hrc Invested In stamps issued by the
bank. These stamps. pasted upon o
card. are accepted By tho bank as a
cash deposit when they amount TO
certain sum. This plan is now being
tricd wiki mc.c or less success Ia VA
rious parts OF the United States. but is
most successful when Il Is encouraged
and promoted by benevolent assoeia-
Iions-aud individuals.
The TrtbREe Almanac for 1892
places the number of savings banks In
The Unlied States at l,Oll, with over
loar million dcposliors aud more than
300 thousand ak hundred millions
q dollars on deposit Verify.
many liiiie mAkes mickle-"
While the Eastern and New England
States show tho largest proporlionAte
number OF banks and the greatest de-
poSits. we OF the West can fad an ex-
ample for emulation 10 the State OF
California. where there were. in July.
lsgl. IS savings banks with deposits
aggrecatlng $lI4,I54.523.29.
Here Ia Colorado. rs in all new
communities, wc find a gCcd deal OF
timidIty on the part Of those OF small
means In tho matter Of making use Of
savings bnuks. This will wear uwAy
as the people get better acquainted
with the system, and then, as in older
Slaies. wc will find that the number OF
savings bank depositors is pretty
accurate gauge oi the average thrift OF
the community,
The laws OF Colorado require that
every savings bank shall make a
sworn statement OF It's affairs ut the
close OF business on the first Monday
OF each quarter, and file the same
with the State treasurer. An eSami-
nation OF the trcasurer's books shows
that there are now eight savings
banks doing business in the State.
They arc rs follows:
Colorado Savings Bank, Denver
organised june 5. 1857; capital stock
paid in. ESQ, 10000; deposits January
1. 1892. s5lj, 1855; president, Chas.
West; vice president, Alfred Buffers;
cashier. Z. o. Atkins.
Peoples Savings Bank, Denver; or
ganized August l, 1889; capital stock
paid in. $50. 900. 90; deposits January
4, 1892. 5000. .SsO.74; president, NJ. j.
Lawrence; vice president, ID. d. Muir;
cashier. +. C. Schrader; assistant
cashier. L. W. Keith.
Denver Savings Bank, Denver, or
Canized February i2, 1890; capital
stock paid in. $3.50 600 90; deposits
january /. 1892, s6l9.9l4.65; presi-
dent, d. IL. Ferguson; vice president,
:. N Wood; second vice president, {.
ii. Smith; cashier, c. Y. Mcclure; as
sistnnt cashier. c. Wood.
Rocky Mountain Dime and Dollar
Savings Bank. Denver; organized May
5, 1891; capital stock paid in, 500
10000 deposits January 4, 1899,
S2I 500 10; president, F. 5. Wood
bury; vice president, X. G. Cooper;
assistant cashier, + 5. Thompson.
East Denver Savings Bank, Denver;
organized November 16, 1891; capital
stock paid in. s25, ,000i deposits Janu-
AIRY 4, 1892. S7,447.96; president,
Geo. W. Williams; vice president, u.
n. Sprigg; cashier, II. E. Pack.
Pueblo Savings Bank, Pueblo; or
ranized Noyember so, 1889; capital
stock paid in, $50, 100000; deposits
r.,,,-,- 1909 1424lO 10. pre,i-