The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1913-10-30
WHAT CONSTITUTES A
SAFE SAVINGS BANK?

Ut =
ayers. and this statcmcn, Is ahso.
iuicly true
! A man must have peculiarly
constituted mind il be is TO grow
inlo safe and efficient savings
. bank manager
1t Is said ,ha, ia the grea, Ma
iori,y Of men, the gambling IN
s,ipet predominates Men like
to bet, and in some men the
Split Of gambling is so largely
developed that it is difficult 10
restrain the temptation 20 gamble
whenever favorable opportunity
offers,
A banker, especially il he be
one who has charge Of savings
deposits and trust funds, should
be entirely free from this gambl'
/ ing propensity. When a note
come to him upon which he must
pass his judgment as banker,
he must have that inbred element
in his makeup which turns down
instanter every suggestion OF
risk, however ilattering the pros
pect OF gain, through a large rate
OF interest, may be.
There are several savings banks
in Vermont whose managers new.
er have speculated in Wall Street,
and probably never will-not be.
cause they might not make money
by so doing, but because they
instinctively turn down every.
thing of an extra hazardous or
gambling character, as Wall
Street dealings usually are.
The managers OF the Hyde
Park Savings Bank are particu-
larly proud of the fact that not
one OF its directors ever engaged
in Wall Street speculations. This
does not mean that they are
brighter or ADLER than other bank
managers, but it does mean that
they have, intuitively, that anti
gambling instinct which prompts
them to turn down every propo-
sition involving a speculative
risk.
This attitude of the directors
OF the Hyde Park Bank accounts
for the fact that in its IS years OF
existence it has never lost dol
lar by a poor note. That IT
might have made more money Tor
its stockholders by pursuing a
different line OF conduct may be
true, although III nine cases out
OF ten the most successful banks,
in the long run, are those which
are presided ever by men who
possess more, rather than less,
than the average amount OF eau
tion and conservatism
The entire assets of the Hyde
Park Bank and that bank does
not own dollar OF assets which
pays above per cent-earned for
the fiscal year ended June 80,
1913, only $40 per cent
What does this mean Unde-
niably it speaks volumes for the
conservatism OF the bank S man
ayers, and means that they place
safety for the deposition above
big dividends for the stock
holders.
The bank cheerlully opens its
books to the inspection and scru-
tiny OF every deposition, and chal.
lenges anyone to find in its entire
list OF assets, aggregating July /.
1913. S2,67o,7I2 AZ, a single dol
lar of poor or doubtful paper.
Because Of the foregoing facts,
the managers of the Hyde Park
Savings Bank feel that they may,
with propriety, commend that
institution to the public as a safe
and proper custodian Of the saw.
ings OF those who believe that
absolute safety is the matter OF
first consideration always, and
that a per cent. interest, COM
pounded semi-annually, with all
taxes paid by the bank is better
than assuming the burden OF
placing their own investments
and mourning the risk OF occa
sionally meeting with loss by
poor titles, fires, and insufficient
security.
Remember, the Hyde Park Saw
ings Bank courts the most rigid
inspection and investigation BY a
scrutinizing public and il any
facts concerning this institution
are desired, they viii be prompt
ly forthcoming on addressing the
President, Carroll 5 Page, or