The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1912-11-12
THE HYDE PARK BANK AND
OUT-OF-STATE LOANS

At meeting at Montpelier, Octob-
err 80. the Farmers Club listened to a
speech by Hon. John II. Senter, who
volunteered for the edification of the
Club this statement:
THE Hyde Park Bank says it does
not loan outside of Vermont, but ii
deposits money outside the State"
So much has been said in regard
to the attitude of the Hyde Park
Bank-some truthful, some other
wise-that perhaps an authoritative
statement may interest our readers.
The bank makes this broad state
ment:
That, aside from funds deposit
ed on call In New York or Boston.
this bank has never loaned a dol
lar since its organization except on
Vermont security or on paper guaran-
teed by first-class Vermont name or
names. Ii does not decline to receive
out-of-State collateral If il believes
the home name is good
II makes every effort to place
its idle. or so-called call money"
with Vermont banks rather than
out-of-State banks: but every
bank so far as we ever knew, keeps
part of its idle money in those re
serve cities authorized by Section
1863 OF the Vermont Statutes. But
this bank has never made deposits
West or South even under this sta
tute. but confined them to cities in
New England and New York
II has been the policy OF The
Hyde Park Savings Bank always
TO keep financially strong so that
1t might at any time respond to any
call upon 1t by any vermonter, and it
has today on hand and on deposit
'on CALI in Boston and New York
and in loans to Vermont banks $780,
273.37.
Within the last 80 days this
bank has said to practically
every savings bank in Vermont,
We prefer to keep our deposits
In Vermont rather than in New York
and Boston Banks, and il you can
use the money of this bank at 4 per
cent we shall be glad to place IL with
you"
From the suggestion of Mr.. SEN
ter the inference could be fair
ly drawn that the Hyde Park Bank
was indirectly loaning money outside
the State through this practice of
making deposits outside the State.
What else can he mean when he uses
the world but" as he does. We re-
peat his quotation:
The Hyde Park Bank saws IL
does not loan outside of Yer
mont, but it deposits money out
side of the State"
The bank has not had de.
post out OF the State for many years.
II at all, that paid more than 4b per
cent interest; and the suggestion
that II was in this way getting around
or avoiding its idea Of making loans
outside the State is entirely gratui.
| tous.
The Hyde Park Bank courts inves.
tigation by everybody, whether they
are interested as depositors or other.
wise; and the bank is more than
pleased that Mr.. Senter has given Il
an opportunity to bring to the pub.
lies notice the fact-for il probably
is a fact-that the Hyde Park RAM
carries a larger percentage of its as
sets ION call" and where IL can mn,
It's hand upon them at moments
notice, than any other bank in this
State. In no other way could this
bank be so powerful a factor in the
financial affairs of the State.
In no other way could il be prenar
ed to respond to all calls. large q,
small, not only from individuals I'M
from its neighbor Vermont banks
There are very few banks I'm Vernon
that do not understand that il in nee
OF funds TO take care of their chs
toners they can come to the Hvd,
PARK Bank and will probably get IN,
money.
This may not always be true. I'm
there has not been a day in the ias
four years when the HYDE Park RAM
has not been in condition TO resnond
and has responded to every cali q
this kind from its neighbor hanks
IL costs the bank something in los
Of interest to do this. for tber
hasn't been a time for years fhat ,
could not send the same money Wes
and get from s to s per cent Pms ,
Is entirely satisfied and content 10 A
business as IL is now DOING. becsus
IT'S phenomenal growth shows thsf 4,
acton is appreciated by the goo