Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1893-11-16
STATE FINANCE REPORT


ono savings bank and two trust com
pauies. chartered by the legislature of 1892,
have commenced business during the year
the Wells River Savings bank. Wells River
March :, the Barre Savings bank and Trust
company. at Barre, February 81, and the
Ludlow Savings bank and Trust company
at Ludlow. juno I.
The liardWick Savings bank and Trust
company at Hardwick also chartered by
the last legislature, has organized and com
mcnced business about September I, max
ing forty savings banks and trust companies
in the state at this date.
The number Of dcpositors in all the say
ing- bank, and trust companies June 30.
1898. is 50, -. an increase in number dur
ing the year Of $40
OF this number 1928 are residents of
Vermont, and have to their credit S23, ~
3OG2l. all increase of ~. POI POP. -. The
nonresident depooitors number 9SG2 and
have to their credit Sl.1l3. 622 4S an in
crease Of 1926 93j.OS.
The total amount of deposits is S2i 2G2
929 60. an increase of 81. jNS. 1879 dur
ing the year crdng June 80. lS03 The
average to- each dcpositor i. @3O)93. an
increase i'm average amount over one year
ago of 33 cents. The amount loaned on
mortgages of real estate in this state is
Sj,316. I9S G3. an increase of 3l4, 1880.
The amount loaned ON mort gage, Of real
estate elsewhere is -, 943 49, 81. an increase
| of @93j.3l IS6.
Loans on personal security amount to
| 81. 90s. O62 ~, an increase of >2j1. 113.G3.
Loan, to towns. villages. etc.. are S:ii1,
| JlI12 an increase of Sl2G. 1l3.i2
| Loans with bank stock as collateral are
! S934 iif.J9. an increase of S}3, PCS. 5S.
Loans ON other collateral security amount
to S,2G.4j9. 70. which is an increase during
| the year of Sol, PILL.
The amount Of real estate used for bank
| ing purposes is $3.50, 4O1.S2 an increase of
| S4J22. 2S; and the amount acquired by fore
| closure and otherwise is sos. SO. 81: an in
crease of 364.4lj.O5.
There has been a decrease of 5000 in the
! amount of government bonds held and the
amount invested in bank stock mostly at
| par value Is t3N9. OO9 Il decrease of Si9Sl.
There has been the large increase of 81
2iS. 50 in the amount invested in State
county city, town. village and other bonds
the amount of such securities now held by
all the banks being -. 1916, 6ll.02.
The cash on hand and deposited in banks
June 30 was 81. 1862 los. -. an increase of
| SO. 500. 1'>
The surplus reserve required by law to he
SGT aside ami held by the savings banks is
| SGS6. POS. 81. an increase during the past
year of So N3i. :. while the total accunm-
lations of all the savings banks and trust
companies including the lawful reserve and
interest amount TO 81. $50. iU3. -. an in
crease of 500 Sj10S
The savings banks and trust companies
have paid taxes to the state during the year
to the amount of 81 =. 323 ~. an increase of
| Sis. 36GJ3 over 1892.
The depositors in savings banks have been
credited with dividends on their deposits
| during the year amounting to S1,6, POI A,
an increase of so. 500. 81: / banks have
paid 4 per cent, and nine 4 per cent to
their depositors.
OF the fourteen trust companies paying
dividends to their stockholders, two have
paid , per cent, one per cent, one ) per
cent, seven & per cent. one $ per cent and
two 10 per cent or am average of fraction
over per cent on the capital stock of 500,
GOO of these fourteen trust companies.
The Lamolle County Savings bank and
Trust company has allowed its earnings
since it commenced business. to accumulate.
and has not paid dividends to its stockhold
els. The Ludlow Savings bank and Trust
company. and the Barre Savings bank and
Trust company have but recently commenced
business, and consequently have not paiC
dividends to stockholders.
The amount invested i'm MORTGAGES else
where than in this state, mostly in the West
is -, 943. | 10 50.
The report for 1890 shows that 5G loar
and investment companies of other States
mostly in the West, were doing business il
Vermont that year. In lS@l but 26 sucl
companies were licensed, and in 1892. Is
Tho l11nIIpV OON licensed il