The Newtown bee., 1896-02-07
Editorial Ink Drops.
CoNNECTICUPs SAVINGS BANKS.

CONNECTICUT'S SAVINGS BANKS.
 The Savings banks of our common,
 wealth come close to the common people,
 and for this reason a report from the
 bank commissioners is of special inter-
 est, or should be. Printed reports of
 public officials are generally regarded as
 dry reading (and such 8 statement may
 not be far from the truth) for no doubt
 the majority of these volumes are con-
 signed to some shelf or closet where the
 dust soon covers them from sight. This
 should not be true of the volume scntou
 by the bank commissioners, for 1t is a valuable book for reference.
 In the distribution of their print ed report the bank commissioners have remembered TIE BEE. Let us see what are some of the facts contained. We find that the total assets of the savings banks of COnnccti- cut are SI52, ,528, ,57G O3, the deposits rep resenting something over $li3,0OO GOO Of this amount. The commissioners find an increase in the number of dcpositors, 6 S23 of whom are among the smaller class. The number of depostors hGv, ing over $1O,OOO Is decreased go, and the largest amount due single dcpositor de- creased $G5, 5,3O7. All these statements arc exceedingly gratifying to the com- missioners.
 On the question of dividend tho com missioncrs, think reduction i- rrcc.- sary. They say:
 The narrow margin by which a few of the banks earn two per centum semi annual dividend only serves to prove tue fact that the day is not distant when the rate of dividend will have to be reduced below the four per crutum per annu.u mark. The reason for this statement i- very apparent, for the fact is well known that it is becoming more difficult each succeeding year to make the deposits earn more than five per ceutum, and in many lines of investments net less than four per centum. Yet, in the face of all this, a few of the banks continue the practice of paying four and onc-half to five per centum in dividends instead of less, and banking up surplus, In our opinion this Is unwise and ought to cease. The poorer class of depostors are looking for safety more than for large returns when they place their hard earned savings in the hands of the banks
 The well-to-do depositOrs ought to be able to invest their funds themselves without calling on the banks to do it for them. Hence the welfare of the poorer depositors should be kept in mind, and sound and safe investments continue to be made by the banks.
 The commissioners recommend that the i Legislature should enact a number of laws touching the banks. They would l prohibit savings banks occupying offices in connection with bahks of discount, prohibiting savings banks depositing se- curties outside the stte, prohibiting savings banks accepting women as sure ties on the bonds of officers or employees | of the banks, requiring the savings banks to adopt uniform system of . bookkeeping, and to cal in the pass books of depositors periodically and to balance the same, limiting the savings as to the amount of their investments in bank stocks, grading the amount of surety bonds of treasurers and other employees proportionately to the size of the bank. They make other recommen- dations, but these appear to us as the most important and seem sensible. We believe in protecting the peoples inter- ests as far as possible, and in this di- rection are the recommendations of the aimed.
 Surveying the condition of the banks the commissioners think the statistics prove the fact that the business of the banks on the whole is being well con- ducted, and that the people have continu- ed to retain their unbounded confidence in these institutions.