Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-08-01
Assotursls souss.


Bosros, July N.-Ihe Glohe says TIT .
uell-known stzsistician d Boston hss
taken the trouble 70 ascertain By very
careful system Of inquiries what IS the
acsuL condition Of the principal savings
banks Of Massachusetts,
The result Of these inquiries demon
strates hryoni question thas these inssisu-
sious are in an absolutely sound condition,
AID that whatever changes have occurred
In their assets since the official statement
Of Oct. 81, lssa, have been in the line OF .
conservative policy and In the interest OF
deposisors
There we're iSs savings banks with as
sets Of $4lAss, i5s Oct /. lss2 II Was
mzuifestly impossible to canvass every
one of these. but BY diiigeat and careful
inoniry the condition of . OF them, hay-
ing assets Of SIS. 6aa, SOL. or something over
~ Der cent OF the whole. mas been ascer-
tanned. II should De borne in mind thar
under the Massachusetts, system the en-
tire assets of every savings bank are the
Ae.eiate Property of the DepositorA
The par value Of deposits amount TO about
% per cent Of the total assets. The other
S per cent represents the various forms OF
1
undivided earnings
The inquiries cover l2 banks within the
limits Of BasGea and "A banks outside Of
Boston.
Considering the la Boston banks first,
IL appears that these now have assets III
sia5, 03seis, Al Increase of 81. -. %! ever
the amount shown by the official report
OF the savings banks commissioners. Oct.
ID rse in fFb n :
a1nour's To IS per cent
The rate Of increase IS very nearly up TO
the average rate for the las, five years and
considerably over the average rate OF in
crease for the last 10 years In disposiny O.
these funds the investment committee OF
these banks have continued TO exhibit that
careful and conservative regard for the
depositors' interest that has built up the
savings hank system Of Massachusetts, &c
its
Present Unsssaiiable Position.
The statistics Of the II Boston banks
show that the ownership Of public funds
has diminished 54i.sl.5. or about pei
cent. and the loans to cities. counties and
towns and TO individuals with puhlig
funds a. collateral. has increased 81. Isl,
~, or about 70 per cent That is to say
-
materially strengthened their securities in
this department
The ownership of bank stock has in,
creased very slightly, less than Is Of / pei
cent
Investments in railroad securities and
| in loans based upon railroad securities
| which are very striugeutly restricted by
| law have increased less than - OF pei
! cent
| heal estate owned by the banks, nearl y
| all Of which is held for banking purposes
and yields n satisfactory income, has been
reduced So ,osie, indicating so much
Liquidation of foreciosed Estates.
TIE great bulk of the increase Of deposit.
has been invested in loans upon first mort
cages Of real estate and in loans upon per.
sonal securities. The legal restrictions
surrounding them render these invest
| ments safe beyond peradventure. Cash in
| the vaults has increased more than ~ pei
| cent. while deposits in national banks have
| been drawn down about % per cent
| The showing OF the two hanks in Salem,
| four in Worcester. four in Cambridge, and
| one each in Chelsea, Medford. Spencer and
North BrooAaeld are equally favorable
and indicate plainly that while the most
| careful cousi ivratiou for safety has gov
! erned the investments the managers have
| not leen unmindful of the exceptional op
| pertunities IN earn higher rates of interest
| upon the deposits OF the great public in
| trusted To ih.'r care.
| The entire = banks inquired into show
tosal assets Of slS3 81, a5l. an increase in
| eight months OF sti,.St,044