New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-02-26
A YEAROF LARGE PROFITS.
REPORT ON THE STATE SAVINGS BANKS
AND TRUST COMPANIES.
sAvrNGs PASS THE BILLION DOLLAR MARK-MR
KrLBy7RN OPPOSES THE PROPOSED TAX

savrNGs PASS THE BILLION DOLLAR MARK-MR'
KuBG7RN OPPOSES THE PROPOSED TAX
AIbanv. Feb. % CspeciaD-The annual report of
Frederick d KiIburn State Superintendent Of
Banks relative to savings banks. trust companies
safe deposit companies and miscellaneous corpora
tions, was made public to-day. He says in part:
With the movement to float hundreds of new lew
December g. 1899 the trust companies Of the State
under TO amer be question of
risk while alluringly and confidently promising un+
is gratifying be able to testify that the manage
ment Of nearly al of these companies turned co Cd
courses Of action: the strain successfully borne
but temporary. The year was prosperous to the
trust companies whole, the resources OF me
having increased by $40 800 0O0 ana the resources
Of all exceeding by 100000 the total reported the
The resources of all the savings, banks in the
s ssls aaEf $500 s. Of which sSs7 90
tented as Gus dePostors XS 81 as otn rc an
in resources during the year was $50 237 g. in
s5Oe86G7 so OF the whole gain in deposits $42, 29S
9O 81 was made ID. d1r og the period from January
months Of the year. The number Of open accounts
being nearly twice as large as that made in 1895.
The average amount to the credit OF each account
average twelve months before So far as last
DO point increasing of the savings
banks by persons Of considerable means. which is
ton held in some quarters that with the decision
of the Court OF Appeals declaring deposits in
ings hanks exempt from taxation there would fol-
low quickly great accumulation of money in these
institutions placed there expressly to escape pay
ment of taxes.
The following table is given:
Number Of open accounts. ................ Iss1371
Number Ct accounts opened reopened
during the NEUTRALITY-SUSPICIOUS.. 405 1853
Number Of accounts closed during the year 29OO34
the year ......--.|e 2914oas
during the t........-..... Pisa o26
Amount deposited during the year not in
GLIDING interest credited 1888 25S Si %
Amount withdrawn during the 2l7 465 0S2 76
OF credited during the 29539 6sS O
paid for the LIZA 446 Al
Expenses salaries year. $50 $50 %
The total capital of safe deposit companies
amounts TO So SS3 800 Their combined resources
amounted on January l, 1900 to IS 800 81 o. against
S. 1877 $50 20 in 1899.
TRUST COMPANIES.
During the year 1899 there increase of ten
in the number of trust companies engaged in
business in this State, bringing the whole num-
Der that reported Of January !. 1900 up to
hfty-nine The aggregate capital Of these ten COM
panies is S9,60OOO0 and their paid in surplus
100000 The capital employed by the trust COM
panes doing business prior TO the beginning of the
wear was S4S $50 600 and their surplus and und-
yided profits over SS4, 900 600 increase in the
former of 600, and in the latter nearly
SD 600.
list of the trust companies the State in active
business January l, 1900, including the two
which safe deposit companies also with the
capital and surplus of each, is herewith given:
Surplus and