New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-18
SATINGS BANKS PROSPER.
FACTS TAKEN FROM THEIR ANNUAL RE-
PORTS IN THIS STATE.
SUPERINTENDENT KILBURN ISSUES STATE
MENT SHOWING INCREASED RESOURCES

SUPERINTENDENT K1LBCRN ls9OEo "iAiH
MEyr SHOWING INCREASED RESOURCES
AND DEPOSITS FOR LAST YEAR.
Albany. Aug. 17-Frederck D. Kburn. Supern-
terdent Of the State Banking Department, has
tabulated the reports OF the 127 savings banks in
the State, showing their financial operations Tor
the year ended on June go 1896. This tabulation
shows that, compared with the year ended on June
30 1885, the total Of the savings banks OF
the State have increased sH2iO,l$; the amount due
depostors has increased s5 766sS3. the surplus has
decreased 81 1852, the number of depositors mas
Increased 1880 the amount OF deposits made dur
ing the year has increased sl6SS,S59 the amount or
deposits withdrawn during the year has Increased
sll 1876, the amount of interest credited deposit
tors during the year has increased S,0o4,iO ana
the current expenses for the banks have increased
by $j4,O95.
The following figures are taken from the tables Of
Superintendent Kiburn: Total resources. sse,75l42S
due depositors July 1896 Sss; other abili-
ties s4ll57; surplus July 1885, s9l, 3O37O; number
OF depositors July /, 1896 l7S23S2; number OF ac-
counts opened during the year, S46lh; number OF
accounts closed during the year. 26SlSs amount OF
deposits received s2l549O,55s; amount of deposits
withdrawn sl94652 1888; amount OF interest credited
depositors S295S72 current expenses Of the banks,
s. Ss7. 6s6
In speaking of the operations of the savings
hanks Of the State Superintendent Kilburn to-day
said:
Next to the tremendous resources which these
reports reveal perhaps the most impressive OF the
figures quoted are those showing that more than
one in four of the population Of the State or TO pe
exact 261a per cent are depos'tors oa,v ,mT
savings banks, and that their money IS reSe '.
invested and cared for at the low cost or 10 mills
per 81 per year. ,,, l.,
view Of recent attacks upon the savings-Danks sys
tenn to state facts which cannot be too strongly en-
phaslZed Our savings banks are dsunctVeIy DeheH-
client institutions organized and supervised merely
from philantnropc methods, win lne am Hl SIM
lating frugaiiy and thrift on the part OF the poorer
people The law expressly requires the state super,
intendent of Banks to satisfy himself that proposed
bank would be "a public beneht before II can pe
authorized and also 10 ascertain that us proposea
era dtness for the discharge of their duties. This 1t
Is the unvaryng practice Of the superintendent TO 90
with great and thoroughness, and also to require
snch trustees 10 execute an agreement that they
themselves will defray the expenses or pank ulti
such time it returns 3l2 per cent net to It's de-
so trustee or officer of a savings bank may have
any interest direct or Indirect in the gains profits
thereof nor receive any pay for his services except
for regular and faithful attendance at the institution,
nor directly or Indirectly for himself agent or
mariner OF others borrow any its funds deposits
or in any manner use the same except to make such
current and necessary payments as are authorized by
the Board Of Trustees. Moreover, trustee must not
become an indorser surety or become in any man.
ner obligor for moneys loaned by or borrowed OF
look 10 insurng only absolutely safe investments and
to the prevention Of losses in any direction.
In a word moderate returns with the utmost posi-
bic security are the aim of the system with every
gain even 10 the minutest fraction, accruing 10 the
10 per cent of the deposits without necessatng the
division of the excess among the deposltors as an
extra dividend, and the accumulation OF surplus at
all permitted only as matter or satety 10 meet the
exigency OF depreciation Of secur ties in times like the
present and also TO enable banks TO earn ana pay
Further yet, II any savings bank were to go into
liquidation surplus that II might have would be
distributed among the depositors and not dollar OF
A. benefit the trustees.