The star and Newark advertiser. [volume] (Newark, N.J.) 1908-1909, 1908-11-10
SAVINGS PUT IN
BANKS EVIDENCE
/ OF BIG REVIVAL
Officers OF Essex Institutions All
Say It's Sure Sign of Bet
ter Times.
DEPOSITS GAIN AND
WITHDRAWALS DECREASE
TOiIers Able to Live Comfortably
and Keep Part of
Earnings.

A steady stream of gold is flowing
into the savings banks of Newark will
prosperity's return.
Hundreds Of thousands of dollars
have found their way to the Golfers oil
these institutions within the past thirty
days, and from a tabulation of re-
ports received by THE EVENING
STAR, it is conservatively estimated
hat Notwithstanding the lean year
Newark ~workingmen are now worth
more than a million of dollars over
and above the savings banks deposits
Of November. 1907.
my countrymen are no longer
boarding their gold" said Antonio Pc
trone, cashier of the italian Savings
Bank. 'They are putting it in the
bank again. Since election day we
have tripled our business. In Italy
they are celebrating. and thousands are
preparing to return to America to join
In the returning prosperity
we nave 1000 new accounts and
$3.50, 900 more on deposit than we had a
year ago." declared President Perkins,
of the Franklin Savings Institution.
For the first time within a year our
deposits are greater than Withdrawals"
said Treasurer Charles T. Champion,
of the West Side Trust Company. "Our
savings department was hard hit by
the slump, as our depositors are mostly
foreigners, but we are recovering and
have every reason to feel satisfied"
= prncidant Hornna TT Rrurn1aU nf the
Howard Savings Bank, said that within
Tprobably be normal again. The growth
should and would be gradual, he said.
TheeHoward Savings Bank was doing
a better business than last year. but
as it issued it's statements in Deem
Der of each year. he did not have fig
ures at hand. He predicted a steady
revival of business.
William ". Rutter. cashier of the
Security Savings Bank. said hat $780,
900 was on deposit in his bank now
that was not there a year ago. With
in the past two months the increase
had been marked. During the twelve
months past he had opened 1000 new
accounts, many of which were with
men who work for wages in factories
and industrial plants.
Fine and dandy said Cashier E.
w. Carr, of the City Trust Company,
when asked how business was. "Our
business Is beginning to boom. The
outlook is. good; our customers are
3optimistic;, we are doing a better BUSH
ness than we hoped for, and see a
prosperous year ahead. Nobody is
boarding his money now"
wv are at our highest point right
now" said President Uzal H. Nc
Carter, of the Fidelity Trust Company.
1--WE have on deposit now, in our saw
ings department, $3.50, 900 more than a
ear ago. Since November /, 1907, we
have opened 1912 new accounts. Most
of our customers are mechanics and
skilled laborers. We now have over
three and a half million dollars in our
savings department. most of which be-
longs to Newark workmen. The pros
poets for business were never better
in our history"
< "~Sixty-flve per cent. of our deposit
tors are Germans" aid Cashier Traut-
fwein, of the German Savings Bank,
af'and nearly every n of them is now
engaged in building UP his account
Hard times are going by" .