Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-07-31
ABSOLUTELY SOUND.
Bay State Institutions
Show a Gain.
AN INCREASE IN ASSETS.
A Careful and Conservative Regard
For Depositor's Interests.

BOSTON, Iuiy 3l.-The Globe says that
well-known t,tistician of Boston has
laken the trouble to ascertain by very
careful system 4 inquiries what is the
actual C nditi IA Of the principal savings
banks Of Massachusetts,.
The result OF these inquiries demon
trates beyond question that these institu-
lions are in an absolutely sound condition,
and that whatever changes have occurred
n their assets since the official statement
of Oct. n, 1892, have been in the line OF
conservative policy and I'm the interest OF
iepostors
There were ls4 savings banks with as
sets Of $4l5, ,S9s, l59 Oct. l., 1891. 1t was
manifestly impossible to canvass every
one Of these, but by diligent and careful
inquiry the condition of 70 Of them, hav-
ing assets of : 81, ,632, ,95l, or something over
a per cent of the whole. has been ascer-
tained 1t should be borne in mind that
under the Massachusetts system the en-
tire assets OF every savings bank are the
Absolute Property Of the pepositora
The par value Of deposits amount to about
95 per cent Of the total assets. The other
per cent represents the various forms of
undivided earnings.
The Inquiries cover l2 banks within the
limits OF Boston and IA banks outside of
Boston.
Considering the l2 Boston banks first,
IL appears that these now have assets of
| Sizes Oi9, ,6ls. an increase OF a, ,997 over
the amount shown by the official report
Of the savings banks commissioners, Oct.
81, 1892. The increase in eight months
amour 3 TO 3.53 per cent.
The rate incrqns q very naa ri IN
the average rate for the last five years and
considerably over the average rate of in
crease for the last 10 years. In disposing of
these funds the investment committee of
these banks have continued to exhibit that
careful and conservative regard for the
depostors' int rest that has built up the
savings bank system of Massachusetts, to
its
Present Unassailabie Position.
The statistics of the 12 Boston banks
show that the ownership OF public funds
has diminished s544, ,795, or about 8 per
cent, and the loans to cities, counties and
towns and to individuals with public
funds as coll teral, has increased 81, 1885,
PAP, or about 20 per cent. That is TO say
that the savings bank managers have very
materially s5rrngtheued their securities in
| this depart meat.
The ownership Of bank stock has in
creased very slightly, less than l-S Of per
cent.
Investments in railroad securities and
In loans based upon railroad securities
which are very siringently restricted by
law have incr ased less than l-2 of per
cent.
Real estate owned by the banks, nearly
all of which is held for banking purposes
and yields satisfactory income, has been
reduced s37 ,GGs, indicating so much
Liquidation of Foreososed Estates.
The great bulk Of the increase of deposits
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 perad venture. Cash in
the vaults has increased more than 40 per
cent, while deposits in national banks have
been drawn down about 20 per cent
The showing of the two banks in Salem,
four in Worcester, four in Cambridge, and
one each in Chelsea, Medford, Spencer and
North Brookfeld are equally favorable,
and indicate plailly that while the most
careful consideration for safety has gov
erned the investments the managers have
not leen unmindful of the exceptional op-
portunities TO earn higher rates of interest
upon the deposits of the great public in
trusted TO their care.
The entire g banks inquired into show
total assets of SlS3 s32. .95l, an Increase in
eight months OF 81, ,302 044
Not IA Single Bank
shows a decrease, and the increases are
.ru vQa ri In pnff