The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1893-11-10

The annual report of Hon w Fl Dubois
State Inspector OF Finance, has made tia an
pearance this week. l. shows the number O
savings banks doing business to be %. trus
| TWO trust companies, at Wells River. Rarrp
| LUDLOW and Hardwick, opening during tn,
year; the number Of delositoxs 50 liz an in
| .rease of 80; 70 253 are res iden,s ~ Ve,.
mont. and have to heir crtd dir $23, 140 1921
An Increase of 80 ,26l 1852 So; no, -res d mi de
oositors 0 S62, with $4,ll3 G22 4s to their
credit. an increase or 1926 935 OS: total
which is an Increase OF 81
5SS. 1882; average to each deposito
$S 10 90, an Increase of 80 cents: amount
loaned on mortgages of real estate In thi.
state 1886 1858. an increase of 1914 1928.
80; amount loaned on real estate mortgages
elsewhere 90 o1a1 10 SO, increase $685. 317 IS;
loans on pe15aI-' curtty to 81 9JS, U62 81. al
increase of $25l,7l3 So; loans 10 towns. VII.
lagos. etc., $374.5l7 IL, an Increase of 1926 :
4l3.72; loans with bank stock as collateral
$24 777.50, an Increase of 1888 26S So; loans
"a other collateral security OF $726.459 10. an
increase during the year OF S5l,247 "A;
smount Of real estate acquired BY foreeIosur.
and otherwise sos. $50 81; an increase Of
$G4,415.05.
there has been the large increase of 81.
4s,Sl6 90 In the amount invested In state,
county, city, 36~s, village and o,hef bond.
the amount Of such securities now held by
all the banks being $7,9366i1.O2. The cash
w hand and deposited in banks June 80 wa.
1,362, 1882, an increase Of 81. 800 IS. Th,
surplus reserve required by law to he se,
asife and bel by the savings banks Ia $685..
200 OF. an increase during the past year of
$o2 o34 II. while the total accumu latinns o,
the savings banks and trust companies, In.
Guiding the lawful reserve and Interest
amount to Sl,4O.7O3,1S, an Increase of 1925
Sol'OS The taxes to the state during the v-4r
we're SIP, 323.i9 an increase of $lS,36T 50
over 1892.
Eleven banks have paid 4 per cent. and
nine per cent to their 'depositors. or the
trust companies paying dividends to their
stockholders, two h we paid per cent. and
one per cent. one per cent, seven 6 per
cent, one per cent and two 10 per cent.
Inere are now only II loan and invest |
ment companies of other states operating bore |
Wnen last year there were IL, and ia 1899. 90 |
During the year six of these concerns nave |
collapsed or been excluded from the state |
because their methods were proved to De bad |
Mr. Dubols properly characterize the NORTH
western affair as Zone OF the greatest frauds |
Oh the age.' The losses of Vermont inves-
tsrs nave been heavy, but only one to two
On the savings banks have been hit so far as
Mr.. Dubois can learn.
Mr.. Dubois says that as the legislature IL
NV ~ s.ssion, ne VIII not submit any recon |
nendations, but make q merely formal re.
port. IL Is to be hoped that Ia his next re.
'ort ne VIII speak vigorously and with the
authority and power his words as financier
YIN naturally carry, on the western mort
rage" business and urge law some what on
ne lines OF that Of Massachusetts, requiring a
'ertain proportion of the money to be invest
"a IN the state which does so much for the
'anks. Legislation probably will not be (
necessary In the next few years, for bank
managers 10 common with the rest of Ls,
ave oeen learning something. But no one
nows now quick the craze will return an
nen the guard will be necessary. The bsnks
eem 10 have gone through The last craze re-
na.kanly well. with investments so we'll q
.aue mat they are not going to suffer. But q
n's cannot be counted on a. an average fact ,
socn ra'nbow-chasirg rushes. n
Inc loans on mortgages outside Of the state Il
q grown from S1,755, 500 80 IN 1880 to e
o.9i5, 50 now, aud the per cent. of the 4
mole investment come to be 80 80 This Is a Il
ttie Detter than it has been since 1885. when q
was 32O' per cent. Bat the per cent. OF Il
,ans on home property has steadily sank CT
tnat IL is only 1875 where 1t was 2o.2' IN