The daily morning journal and courier., 1895-01-04
THE BANKS OF THE STATE.
4 GENERALLY PROSPEROUS .AND
 SATISFACTORY CONDITION.

The annual report of the bank com
 missioners has just been issued, show
 ing the condition of the savings banks
 state banks and trust companies of tn
 state on october 1, 1894.
 After calling attention to the fac
 that since the last annual report of the
 commissioners the country has passed
 through period of very serious finan.
 cial and commercial depression, the re.
 port states that it is a most encourag- ing and satisfactory feature of the fin
 ancial condition of the state to be able
 to show that Connecticut and its sav-
 ings institutions have weathered the
 storm so buoyantly and with so little | permanent check or disturbance
 A very significant statement in the
 commissioners report, in view of re-
 cent legislation, Is contained in this paragraph:
 During the revival of business and | the increase of manufactures conse- quent upon the passage of the present | tariff law the banks were the first to | feel the improvement. The gratifying
 and steady increase in the volume of
 business now being transacted by all 1 the banks of this state is pleasant and certain augury for the financial | prosperity of our institutions during the coming fiscal year"
 The report shows marked increase on loans secured by real estate mort gages, while the advances on collateral and personal securities have somewhat diminished. Thus, while real estate loans have increased $1,79O, 54S.S9, collat- eral loans have decreased $1,229,4 ,451, and personal loans $45O,5SOS4,
 Another healthy sign of improvement is pointed out in the fact that real es- tate owned by foreclosure shows de- crease of $34,215.62 The miscellaneous assets have increased $56,279.36 and the cash on hand and in bank $2S3, 767,1S.
 The increase in the total deposits for the year, under the most trying and difficult circumstances, amounts to $2,- 961, ,6SS3S, showing, the report says, that has never been paralleled during a similar period of stagnation and un- certainty. Very handsome increases are shown to have been made in the surplus and profit and loss accounts, while other liabilities have been reduc- ed $146, 6,025.76.
 The total number of depositors has increased 1,375 and the average amount due each depositor now amounts to $461,51, an increase of $6250.
 It Is further noted that the bulk of increase of deposits Is to be found among those whose savings range from S2, 900 to $10,00O, proving that it is the more well-to-do classes of our working community who are the most substan- tial patrons of our savings institutions. The number of these depositors has in- creased 425 and the amount of their de- poslts $2,029 04S,96
 The Income tax Is alluded to in more than one place in the report, and the commissioners say that that measure met with the hearty disapprobatiou and strenuous and concerted opposition of all classes of our community"
 The fact is recorded that depositors of over $lO,000 are making efforts to evade the law, and that there is al- ready decrease of eighteen such de- positors.
 Under charters of incorporation from the last legislature two new savings banks have been opened, one in Bridge port, the Industrial Savings bank, the other in Waterbury the Watertown Savings bank.
 The report states that savings insti- tutions of the state will be to some ex- tent losers by the failure of the Coffin & Stanton brokerage firm.
 Tn consequence of the difficulty of securing investments that would net a working margin of interest on the amounts invested the commissioners are of opinion that the time is not far distant when the state savings institutions will be obliged to re- duce the rate of interest they are now paying deposltors, but they do not say that the contingency is i'm minent, They think 1t Is only right | to prepare the minds of the depositors to q change which their judgment | shows must result sooner or later un- der the conditions of the financial | market as 1t now exists.
 The state banks and trust com panies are shown to have had most | satisfactory and prosperous year of financial operations, and the com missioners say that the good showing of the banks under such trying cir makes it more than ever apparent that these institutions in are on a footing that re- Hounds to the credit of the common- wealth and the enterprise of citizens.
 On the whole the report demon strates that the banks of the state, after going through an almost unpre- ,edented period of depression, are sound.
 In a table appended Is given matters of general interest appertainlng to the business of our banks town to october 1, 1894, and com pared with the business of the year 
 Miscellaneous items--Number of de- oositors having less than $1,000 1894, 2a7 843; 1893, 296,703; increase, LAO; amount of such deposits, 1894, S179,- HAT; 1893, $57, ,8S6, 562. 42; increase, $292,- 52. .05; depositors having $1 900 and not ,ver $2,00O, 1894, 274O6; 1893, 27,578; de- .rease, 172; amount of such deposits, s94, $86, 48O, ,29065; 1893, $35, ,634, ,S84 53;I increase, 425; amount of such deposits, s94 $89, ,476, ,156.17; 1893, $37447, 112.21;J