Evening capital. (Annapolis, Md.) 1884-1910, 1901-12-28
ANNAPOLIS SAVINGS INSTITUTION
NOT TO BE COMPOUNDED WITH NEW
DIME SAVINGS BANK.
A Recognised Institution Of Annapolis And
Anne Arundel Oounty-Pays Three
Per Cent. Compound Inter-
est To Depositors.


sort of way that there is in Annapolis
such thing as a Savings Institution,
and now it has come to pass, with the
growth of the City, that we have two
such institutions, one of which, however,
has been only very recently established.
The new bank is called the Dime Saw
ings Bank Of Anne Arundel county, but
the old Institution, which has been with
us for now over quarter of a century
is called The Annapolis Savings Institu-
ton. There is sufficient difference in
the name to avoid all mistake and con-
fusion if interested parties will take the
trouble to look at the signs on the win
dows of the two Institutions. 1t is the
old Annapolis Savings Institution of
which we here write, and to which we
desire to call the especial attention of
the people of Annapolis and of Anne
Arundel county.
It's President is Mr.. J. Harris Forbes,
an old hand at the banking business, and
now, and for many years past, general
book keeper for the Farmers National
Bank its Vice President, Mr.. Frank III
Stockett; its Cashier, Mr. Eugene Worth
ington; its Attorney, Mr.. James Nj. Mum
roe, and its Finance Committee. Messrs.
Edward Powers, James II. Vansant and
bers of the Board of Directors are Louis
II. REIN, Bernhard Wiegard, Samuel
Brooke, Frank A. Munroe and William
N. Woodward. All these men are well
known citizens ofthe community and such
their experience and familiarity with
financial affairs and such their successes
in their own affairs that their director
ship of this Institution may well inspire
confidence in their depositors The
growth of the Institution has been slow
but steady; it was organized in 1874 and
for many years was obscure and almost
unknown with small number of de-
positors and very small line of deposits,
but recently it has grown to be a power
full and very helpful institution having
now about 1000 depositors and carrying
1868 600, 90 deposits with investments of
the most substantial kind, all of which
are annually subjected to rigid scrutiny
and investigation by an impartial Board
of Depositors in no way connected with
the management of the institution. The
moneys of the institution are invested
in United States bonds, first-class bond
of the States and cities and railway cor.
porations, in regard TO which latter
however, the Institution has been ex-
tremely careful investing only in the
very best railroad bonds, county paper
and first mortgages of real estate on
broad margin. A large part OF the in
vestmcnts of the Institution, namely, the
investment in first-class bonds and Sc
curitIes are much more valuable than
the face value thereof so that the assets
of the Institution are really great deal
more than is made to appear in the
usual published statements of the finan-
cial condition thereof which always
shows only the face value of the invest
ments.
The Institution pays per cent COM
pound interest to all its depositors and
is recognized by the City of Annapolis,
by Anne Arundel county and by the
Courts as a safe and sound institution
and proper place for the deposit of trust
funds and moneys intended to create and
preserve sinking fund for the redemp-
tion of City and County bonds. Money
is loaned to amounts from 800 to
$50 000 and payments are allowed to be
made in sums as small as 800 on ac-
count of mortgage debt, and at any time
that suits the convenience of the de-
positor and debtor. Mortgage debtors
are encouraged to open accounts in the
Bank and to pay in small sums of money
which are placed 10 their credit bearing
interest and which accumulate during
the period of the loan to.help pay off
the debt when due and TO be applied to
the reduction of the debt during the per-
iod thereof. To aid in this good work
he Institution has bought hundreds Of
title Home Savings Banks, which al
though they belong to the Institution
and have its name upon little plate
thereon, are loaned to depositors for the
purpose of being used by them in their
homes as a safe place for the temporary
deposit of small sums of money which
at any time they can take to the Institu-
tion and have their deposits put TO their
credit. Any person desiring one of
these Home Savings Banks can secure
one upon application to Mr.. Eugene
Worthington, the Cashier, the only re-
quiz ement being that they should open
an account and deposit at least the sum
of one dollar. This notice of the Saw
ings Institution is published because al
though it has been amongst us for now
over % years it is surprising to know
how many people there are in Anne
Arundel county who seem never to have
heard of its existence who, no doubt, if
they had favorable opportunity would
only be too glad to avail themselves of
it to get the benefit of this Institution.
1t is the failure of people to appre-
ciate the value of small sums of money
and the rapidity with which small sums
of money accumulate into large sums
that accounts for much of the difficulty
that is realized by persons In paying of
mortgages when once placed upon their
| property, but with little self denial and
! persistent effort to save, aided by the
| opportunity TO place small sums OF
money beyond the reach of being spent
| for other purposes. as is the case when
put into Home Savings Bank, the deb
tor will be surprised to see how his lit
| tie savings have accumulated in the
course of year and will be rejoiced to
find his mortgage debt gradually shrink
| ing instead of discouraged to find il re-
naming stationary, The Institution il
| disposed to encourage in every way per.
| sons disposed to save their money aud
open accounts, and any person reading
this article and desiring to open an ac-
count with the Annapolis Savings Insti
| tuition will please write to Mr.. Eugene
| WoIthington, Cashier of Annapolis Saw
;ngs Institution, Annapolis, Maryland
and if there is q sufficient demand, loca
| agencies will be established in different
parts of the county for the distribution
of the Home Savings Banks and fol
their collection from time to time fol
the purpose of depositing the contents
| thereof in the Annapolis Savings Insti