The Barre daily times. (Barre, Vt.) 1897-1959, 1912-11-11


ton, this bank has never loaned 1
dollar since its organization ex
cept on Vermont security or OF
paper guaranteed by a trst-class
Vermont name or names. lit does
not decline to receive out-of-state
collateral If it believes the home
name is good.
1t makes every effort to place
it's 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 reserve cities authorized
by section 1859 of the Vermont
statutes. But this bank has never
made deposits West or South even
under this statute, but confined
them to cities in New England
and New York.
| 1t has been the policy of the
Hyde Park Savings Bank always
Ito keep financially strong, SO that
it might at any time respond to
any call upon it by any Vermont
er, and it has to-day on hand and
on deposit ION call +" in Boston
and New York and in loans to
Vermont banks $2s0,273.37.
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 If
you can use the money of this
bank at 4 per cent. we shall be
glad to place it with you. !"
From the suggestion of Mr., |
Senter the inference could be fair
" drawn that the Hyde Park |
Bank was indirectly loaning mon
ey outside the state through this
practice of making deposits out
side the state. What else can he |
mean when he uses the word |
but as he doesf We repeat his
quotation
tThe Hyde Park Bank says it |
does not loan outside Of Vermont, I
but it deposits money outside Of
the state.
The bank has not had deposit
out Of the state for many years,
if at all, that paid more than 4 IL
per cent. interest and the sugges-
ton that it was in this way get
ting around or avoiding its idea Of
loans outside the state is 1
gratuitous.
The Hyde Park Bank courts in
vestigation by everybody, wheth-
err they are interested as deposit
ors or otherwise; and the bank is !
more than pleased that Mr.. Senter 1
has given it an opportunity to
bring to the public's notice the
factor it probably is a fact
that the Hyde Park Bank carries
a larger percentage of its assets 7
on call, = and where it can put h
It's hand upon them at moment s d
notice, than any other bank in the /
state In no other way could this 6
bank be so powerful a factor in 9
he financial affairs of the state.
In no other way could it be pre-
pared to respond to all calls, large
,r small, not only from individ- p
lals. but from its neighbor Yer I
mont banks. There are very few :
,anks in Vermont that do not I'M n
lerstand that if in need of funds q
o take care of their customers 81
hey can come to the Hyde Park
Sank and will probably get the
money.
This may not always be true o.
ut there has not been day in Fl
he last four years when the Hyde \
ark Bank has not been in condi- "
ion to respond. and has respond q
d, to every call of this kind from w
IS neighbor banks. in
1t costs the bank something in s.
1ss of interest To do this. for M
here hasn't been a time for years or
hat it could not send the same Re-
loney West and get from 6 to s =
err cent. But it is entirely salts 2
ed and content TO do business as |
is now doing, because its phe- |
omenal growth shows that its ac-
on is appreciated by the good
eople of Vermont. [
It's average deposits have ex-
,eded IFS Withdrawals for every s
ay in the last five years. barring +
undays and holidays, 5000 per I
8y. Z
The bank returns its thanks 10 Il
r. Senter for giving this oppor-
nifty through the columns Of
he News and Citizen TO state +