The daily morning journal and courier., 1896-01-01
ABOUT THE SAVINGS BANKS
DEPOSITS HERE INCREASED OYER
 $6,OOO.O0O DURING THE YEAR.

--People's Bank at Middletown Should
 be Wound Up.
 The annual report of the bank com missioners,, showing the condition of the savings banks, state banks and trust companies of Connecticut, Octo- Der 1, 1895, contains some interesting facts and valuable recommendations.
 That the past year has been pros porous one with the classes of people who place their surplus funds in savings banks, is shown by the fact that the number of depositora increased during the year by 95O4, of which 6,S29 were those whose deposits were small The total deposits increased S6,2SO, 364 and the withdrawals decreased $l,55S, ,036, both favorable showings. The whole number of depositors on October was S46,75S and the total of deposits $14S,- 159,12S. The average amount due each depositor is S412.S5 The total amount deposited during the year Qncluding in- terest credlted) was s3S, S29. .196, and the withdrawals were $26,97S,732. The ac- counts opened during the year were 5@,554, and closed 41,3lS The income of the year was S7,4SS, ,492, of which s5, 5,451,- 23" was paid to depositors for interest.
 The total of assets increased $6, 507, 7S0 and the surplus $S67, ,56S
 The loans ont real estate have increas- ed $2,S60,831 (aggregate s57657,6S5) and on personal security $6OO43. while loans on collateral security have been de- creased S350, 3S1.69. Investments in city, state and town and railroads bonds have been increased $3,353,6 ,6O1, and in United States bonds have been more than doubled, while investments in bank stocks have been decreased $75, ,50f Real estate owned, including banking houses, has been decreased s22S, ,3S0, and miscellaneous assets have been in creased.
 MANY SMALL DEPOSITS.
 Of the 34G,758 depositors, S04, ,666 have less than $l,O00 on deposit The num- Der having over $10,000 is decreased g. and the largest amount due a singg..S depositor decreased from $112,271 to $65,- S07. All these statements are exceed insly gratifying. The items of income and dividends have been increased. As sets yielding no income have been de- creased $177222, which is very satisfac- tory, while the amount of past due pa per has been increased s121 ,627, and charged off paper S5o.5S3, which is not quite as satisfactory.
 Three small banks paid per cent, IS paid 44 to 4la per cent, and the others, so or more, only per cent. The commissioners suggest that it may be difficult in future to maintain these rates of dividends
 One bank, the Peoples Of Middletown, is queer institution. It has taker4 no deposits for long time; the trus- tees have not met for several years, the largest deposit is only about $20, and the smallest cents. The con- missioners recommend that it be wound up.
 BANKS ARE SOUND.
 The commissioners report the banks of the state generally in a healthy con- dition A few have not strictly lived up to the law, owing to carelessness, and have been brought to account The commissioners recommend a more stringent law regulating collaterals, for the reason that some banks take as coIlaterals bonds and stocks which they woudl not buy. The report also criti- cises the law allowing the discounting of notes, claiming htat such business had better be left to banks of dis count. Investments by savings banks in stocks of national banks might well be limited, they think, for the reason that these stocks have a double lia- binty. A uniform system of bookkeep- ing is recommended; also that bonds of treasurers should be given by surety companies rather than individuals and that a savings bank should not be allowed in the same room with a bank of discount or private banker. The re- port recommends a law empowering the commissioners to employ legal counsel and also regular crelical assistance for their office. II is also suggested that the board might be increased from two to three members.
 A WEAK FEATURE.
 As to examinations of banks they, make this suggestion, possibly prompt ed by the recent disclosures at the wrecked Dime Savings bank in Willi- mantle:
 There is weak feature about mak- ing an examination of any savings bank, which We do not know how may be overcome altogether, and it is this: an examiner cannot tell whether the deposit account is correct or not. There is but one way to prove the account, which is to call in all the passbooks and make a com parison with each individual account This would be physical inn possibility for the examiners to do and attend to the duties of their ap- pointment Besides, 1t would be a delicate matter for the banks to handle. But were there a law enacted directing the banks to call in the passbooks, say once during 8 period of three or five years, and this department empowered to employ a clerk to visit every bank and take off, or books provided for the purpose and held in possession of the department, trial balances Of the depositors' accounts on all the deposit ledgers of the banks and see if results agree with the entries made on, the general ledgrs-it would a wise pro- vision.
 The report contains a well-written story of the troubles of the Dime Saw ings bank Of Willimantic, the records. and the legal proceedings taken.