New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-20
THE SlVINGS-BlNKS or NEWYORK.

The people Of this city may well congratulate
themselves upon The prosperous condition OF
their savings banks These institutions are now
making their annual reports 10 the State Bank
inc Department, and the figures are highly en-
couraglng and satisfactory The year 1893 was
n year Of Development progress and expansion
on the part OF the savings banks of the Empire
State. These banks are l26 in number. and their
total resources amount 10 almost SsOO,OOD,OD.
Nearly $7OO. 900 600 are due 10 depositors, lcay-
Ing n surplus of a little below SlO0,00O.OOc. Last
year the aggregate of sums deposited exceeded
5000 600 OOO while the amount withdrawn was
less than Sl9O,OO,OO. There are in this State
nearly million and threc-quariers of open ac-
count. n the savinss-banks. Most Of these IN
sti,utious seem 10 he under conservative and
admirable management ut present. 1t Is GER
tain. ANYWAY. that those I'm Ncw-York City are
conducted with sagacity prudence and d'scr"-
ton No one in the metropolis can lament any
lack Of opportunity 10 put his OF her savings
where the money will be- secure, ana where 1t
will draw fair rate of interest No conceivable
circumstances 10 extremity Of panic or financial
disaster could bankrupt the great Bow"ry
Savings Bank. the Institution for Savings which
WAS formerly in Biccclcr-st. tie Greenwich. ne
Scamcn's. the Emigrant Industrial, the Ger
man. or other savings-banks II New York City
whose SURPRISES run far up In the millions
The savings bank j. a true friend TO the wage
Garner II j. ready 10 accept extremely modest
SUNS 10 care f,r them wisely, and 10 pay them
ont when any emergency or stress OF necessity
may compel The dcpositor to make use Of the
sums put ~ The more thorough the study
given 81, the details OF the figures showing the
actual condition OF our savings banks the strong
or The confidence that will he felt in their sound
ness and in the care and conservatism with
which they are carried on The condition OF
Affairs In these institutions Is vastly better than
il was a quarter oc century ago. While the
Tweed Ring was in power unworthy and dis
honest men got places IN the boards Of trustees
Of several banks ia this city. which were So mis-
managed that when the panic Of 1913 came they
were unable 10 weather the storm following the
disasters ~ September In that year Among the
savings banks which became insolyent in the
seventies were the SlxPcnny. the Mutual Bcne-
III. the Peoples In Third-avc.. and some others.
Every one II these was shamefully mlSmanagcl.
Recent years have shown pralseworihy improve
mcnt In the methods Of direction and control OF
the savings banks In this city. Even the linan-
cill troubles OF 1893 caused them no serious dan
ger They acted together with sound Judgment
and took proper steps 10 prevent any unreason-
able and unwarrantcd run on the part OF the
dcpositors They emerged from the trials or
that period stronger and safer than ever before.
1t Is well that wagcearners OF this city can
choose perfectly secure places OF deposit among
a number Of immensely strong institutions.
Habits Of prudence and thrift ought 10 be en-
couragcd among the worklngmcn and working
women Of the metropolis by the facilities afford
ed them for putting their savings in banks, the
strength OF which cannot be questioned and
which are conducted in such Il way rs 10 give
the dcposiiors not only absolute security, but
every advantage that can be afforded by able
and sagacous management.