The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-01-12
DIME BANKS ANNUAL MEETING.
Encouraging Address TO the stock-
holders by President Charles Du
Pont Breck, Showing the Sound
Condition OF the Bank and the Work
Accomplished During the Year.


ers of the Dime Deposit and Discount
bank was held at the banking house
yesterday afternoon. The election re-
suited in the choice of the following
directors: Charles Du Pont Breck, r.
G. Brooks, A. l.. Francois, George Il.
Jermyn, Il. j. Lynett. Solomon Gold
smith, w. j. Lewis, NJ. II. Dale. c. II.
Schadt David Spruks, J. w. Carney,
G. S. Seamans, James Fitch.
At the meeting of directors, which
followed, Charles Du Pont Breck was
reelected president; Reese c. Brooks,
vice president, and T.. j. Lynett, sec
retary. President Charles Du Pont
Breck made the following annual ad-
| dress:
| To the Stockholders of the Dime De-
post and Discount Bank of Scranton.
1t gives me pleasure to announce to
| you that we have just passed through
| the most successful year since our or
| ganization. The bank, in consequence
| of the earnest effort of its directors,
| officers and stockholders, continues to
| win the respect and confidence of the
| public The institution stands second
| to none in point of being worthy of it,
| for l can assure you that there is no
| bank in this city that has greater safe
| guards surrounding it. than our own
| Not a week passes by throughout the
entire year that your directors do not
| meet together and most carefully scru-
| tinze the paper presented for discount,
as well as any applications for mort
gage loans that may be offered. In ad-
| ditOn to this, a committee is appointed
by the president to examine the affairs
| of the bank. and this committee con-
| sist of two directors and one stockhold
er. Without notice to the officers, the
committee from time to time call at
the bank and count the cash on hand,
| examine all the discounted notes and
mortgages, the railroad bonds. colater-
| ais, and other securities. They also
get a statement from the New York
| and Philadelphia banks, which we
make our repositories, verifying the
cash to our credit. In fact nothing is
left undone to secure as careful an eX-
animation as that of the state bank
examiner. who, by the way, visited us
within the past two weeks. and found
such satisfactory condition of affairs
that there was nothing to criticize,
and when say this people who under
stand what critics these men usually
are, will appreciate that we have rea-
| son to congratulate ourselves.
Our total deposits at the close
of business Jan. I, 1898,
were .................... $7S5, ,959 81
Our total deposits at the close
of business Jan, Z, 1897,
were ..................... co., ,252 40
Showing a gain in deposits
| for the year of..............S1S2,7 of 706 81
The surplus and profits at the
close of business Jan. T.
1897. were ..................s5 59,O91 ST
The surplus and profits at the
close of business Jan. T.
1897, were ................... 446O2 02
Showing a gain for the past
| year or .............,......., ,.Sl44S9 90
| Adding thereto amount paid
out in dividends ............. 5000 90
Making in all 500. .4S9 So
or 20 40 per cent on the capital of
100000
Is this not a SPLENDID showing for
| the youngest bank in this city, and
should we not all feel ii is a subject for
mutual congratulaton? Here let me
| remark, that much of the credit of this
result is due to the careful and efficient
management of our cashier and tellers,
and the very excellent clerical force
under them who spare no pains in do
| ing their full duty.
To show that we are the people s
bank will state that over $4,000 saw
ings accounts have been opened since
the bank commenced business, and
that we paid out for interest to de-
positors during the past year SlO,-
76O As. Beside the savings accounts we
have at present about eleven hundred
active business accounts.
To give you some idea of the way we
have been progressing onward and up
ward ] will show you comparative
statement. The bank commenced bust
, ness March 80, 1891
Jan /. 1892, deposits $l59,069OO; sur
plus and profits, $l,10i.7.
Jan. /, 1893, deposits, S324,ISS.95; sur
plus and profits, SO, 1851.
Jan |, 1894, deposits, S3l0 955,31; sur
7 plus and profits, $50, 542.1S
Jan. l. 1895, deposits S42S 4O3.39; sur
plus and profits, $27, 1851.
, Jan /, 1896. deposits, $500, ,099,9S; sur
plus and profits, $33,sll,4S.
Jan. /, 1897, deposits, 602,252. 40; sur
: plus and profits, $44,G0202.
]. Jan. l, 1898. deposits, $735,959,3l; sur
plus and profits, $5909l.S7.
In addition to this, dividends at the
rate of six per cent. per annum have
, been paid to the stockholders since Jan
10, 1894, and last year your directors
carried over $4,000 to the surplus fund
making it $4,000 aside from undivided
, profits
So you will observe that there has
: not been a year in which we have not
added materially to our surplus and
undivided profits, and that the past
year has been the banner one Of all,
Many of you are doubtless aware
that we own our banking house, which
is. without doubt, one of the finest loca'
tions in the city.
You will be interested to learn thai
the bank is now furnished with the
Holmes Electric Protection, which is
the most adequate safeguard that hu'
= man ingenuity can devise against burg
= larry. 1t is adopted by, the leading
banks of the country as well as the
! United States treasury department
and our depOsitors may now feel con
fident of the absolute safety of the
| ,,n,a,,s contained m tha Van1t WDiIs