The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1895-11-22
Finance Inspector,s Reports.


30, has been issued this week. 1
shows deposits to the amount Of $50,
403, 264. 43 in the 90 savings banks, Il
savings banks and trust companies
two cooperative savings and loar
associations and one Investment anC
guarantee company. OF this amour,
S25, GIT, 4119. SO, or 81 per cent. of the
whole, is deposited by residents of the
state, an increase during the year Of
81, 9SS, 30. 80, and 81, 7S5, S44. GO by non
residents, an increase of S447, 800. 81.
The total number Of depositols is 81.
1856, of whom S6,5O2 are residents OF
Vermont. The large increase in de-
posits, amounting to eight per cent. is
somewhat remarkable considering the
times, for in previous times of finan-
cial pinch, in 1883 and 'S4, in '7S, '65
and '66 and '57 and '5S, there was a
considerable withdrawal of deposits, to
the amount of 5000, 600 Or $500, 900 in
some Of these years. Even the panic
year ending with June 30, "a, showed
an increase of s7O3, 925.77. This fact
indicates. first, that Vermont is not
suffering from tho hard times SO much
as most of us imagine, and that she
has a great power of wealth accumula-
tion continuing steadily through all
times. 1t also indicates what is still
better, that our people are.learning the
lesson that the best place to invest
their money is at home. Every year
since 1890, except the panic year, the
increase in deposits has been nearly
! double what it was in the few years
preceding.
The table of investments by the
banks themselves is not quite SO
favorable, but it shows progress in the
right direction. The loans on real
estate outside the state", in other
words western mortgages have been
pretty steadily decreasing for several
years and now represent only 81. 93 per
cent of the banks investments,
whereas in 1889 they were 1920 per
cent. But the loans on home mortgag-
es are only 1886 per cent. of the
whole; in 1889 they were 2O.6S per
cent, and then declined quite steadily
until in '93 they were only 1875 per
cent, since when they have been ris
ing slowly. The right and healthful
condition of affairs will not be reached
until the safest loans that can be made
will be those on Vermont farms Fand
they become the loans that the banks
will most seek.
The radical change OF conditions and
tendencies that will bring about this
state of affairs cannot come in a day or
year, but it is surely coming. never
theless.
Mr.. Field presents an interesting
table showing the growth of savings
bank deposits in the last As years, from
sl99, 376 in 1850 to the present figure
of $50, 403, 264.43 And it is remark
able fact that the farms for it is from
the farms that the bulk of it has come |
that can yield such an accumula
ton, nearly one fourth the appraised |
valuation Of all the real estate in the
state, besides all the other personal |
investments, that such farms should
have fallen in market value to perhaps
on the average of their former
figure. 1t is an unnatural and abnor-
NAL condition that cannot continue.
The average increase of deposits TO
each depositor during the year has
been s.. 6S and the average amount to
the credit of each resident depositor is
1896. IA and to each non resident
s435.72 The surplus reserve fund re-
CURED by law to be set aside and held
TO meet losses and depreciation of
amounts to 1902, 219. 49, The
total accumulations in all the savings
banks and trust companies, including
The lawful reserve and interest, SILL
MI, dS''oi' IuS duloult vi Stdte tdAcS
paid during the year is Sl91, 1886. 55.
The total expenses including taxes
lave been 1896, 957.36, or less than
,ne half of per cent. of the total de- {
,osits. The dividends paid depositors
n savings banks as interest amounted
o 1878, S13. SIT, an increase of $40, 720.
70 over 1894. Twenty one have paid /;
per cent. seven AZ, one 51aa, one 3s4.
Sixteen of the trust companies paid
dividends to stock holders amounting :
o $50, 800, an average of a little less !
han 6 per cent on the capital stock /
# 1881, $40. Eleven paid 6 per cent, .
wo s, two 10, and one 5 per cent. :
'he amount invested in western
is $40, 559, 1884,.
The largest bank in point of deposit
5 the Burlington Savings Bank with L
3, 049, 9S7.0S, the next the Vermont .
'avings Bank of Brattleboro r
nth So, 2s7, 566.6s. while the I
Savings Bank is fifth a
18th 51,S03, 24406 and the Bellows u
'alls savings bank eighth with 81, I,
%, 029. 26. Neither of the Brattleboro Y
anks nor that at Wilmington holds g.
ny real estate by foreclosure and the :,
fellows Falls bank only Sc, 500. OF the n
lrger banks the Bellows Falls institu- e
ion makes one of the best proportion n
showings of investments on Vermont T.
al aatafa. hut fhnra. arc fhrnn Of tho =