The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1912-11-14
THE HYDE PARK BANK A
OUT-OF-STATE LOANS

At meeting at Montpelier, Octob-
err 30, the Farmers Club listened to a
speech by Hon. John H. Senter, who
volunteered for the edification of the
Club this statement:
The Hyde Park Bank says it does
not loan outside of Vermont, but it
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 dol
lar since its organization except on
Vermont security or on paper guaran-
teed by first-class Vermont name or
names 1t does not decline to receive
out-of-State collateral II il believes
the home name is good.
1t 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
a part of its idle money in those re-
serve cities authorized Dy Section
1869 of the Vermont Statutes. But
this bank has never made deposits
4, 4.
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
it might at any time respond TO any
call upon it by any Vermonter, and it
has today on hand and on deposit
ION call" 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:
I've 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 per
cent. we shall be glad TO place it 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 says 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.
If at ALL that paid more than Az per
cent interest; and the suggestion
that it 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 factor it probably
} is a fact-that the Hyde Park Bank
/ carries a larger percentage OF its as
! sets ION call" and where il can put
/ its hand upon them at a moments
notice, than any other bank in the
/ 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 prepar.
/ ed to respond to all calls. large or
small. not only from individuals but
from its neighbor Vermont banks.
There are very few banks in Vermont
that do not understand that if in need
of funds to take care of their Gus
toners they can come TO the Hyde
Park Bank and will probably get the
money.
This may not always be true; but
there has not been a day in the last
four years when the Hyde Park Bank
has not been in condition TO respond
and has responded to every call OF
this kind from it's neighbor banks.
It costs the bank something in loss
OF interest to do this. for there
hasn't been a time for years that il
could not send the same money West
and get from to per cent. But II
is entirely satisfied and content to dc
business as il Is now doing. because
its phenomenal growth shows that its