New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-24

tors the intrlCaClcS OF the routine
that enables private banks TO obtain the very funds
that their owners would not intrust to them directly
COME strange and intensely human facts hide behind
the prosaic operation OF the system. Many are 50
odd that am few persons realize Just what nclc
SAM Banker, has found out in his new role. On last
January there about 5000 depositorS, against
- GOO the end Of the first six months. On the latter
date the total of deposits slightly less than S1OOOoo
TODAY it exceeds S4OOOOOOO One-sixth OF the total
amount on deposit is held in three otfceS-New York.
Chicago, and Brooklyn-the other tIve-Sixths beng
distributed in 1900 other repositories.
The big cities lead in number of depoSors as well
as in amounts deposit yet towns almost unknown
to students of geography show the highest average oil
individual deposits. New York City, first IN rank
showed at the end the last fiscal year average deposits
Of only sSS; while the highest shown by Roslyn
Washington forty third in rank with S27l The lowest
average was credited to Providence, Rhode Island, with
500; while Philadelphia and Newark the next
lowest each with SOS. Brooklyn also was near the bot
tom of the list, with 81. The mining districts nave
medium averages; Goldheld, Nevada, showing sl'3.
and Anaconda Montana, Sl77 The same may be SAID
OF agricultural centers.
The fact that cities show more deposorS and higher
total deposits than smaller towns proves concluSiVey
that the money intruSted TO the government Is money
that did not appear unless in negligible quantity, IN
bank balances prior to 1911
Chicago is the second ranking city, Illinois yields second
place to Ohio whose ranking city is Cincinnati eighth
in the list.
DECULIAR is the attitude OF many depostorS with
regard to bank failures The laboring man lack oil
familiarity with banks naturally causes HIM to dStrust
them: but in some similar feeling has been dlS
covered where the banks cater only to an ntelgent
class Of clients most of them professional men and
government clerks thereby showing that the impulse
to @trst the government is always expainable on
the plea OF ignorance
This was learned during run Washington bank
in the shadow OF the Postofce Department. last No
vember The situation did not warrant any apprehen
sion on the part OF depostorS, many OF whom were con
versant with the exact state OF affairs yet III postal
deposit accounts were opened in five days, sl5,WO
being received while $4,000 had to be rejected because
Of the restrictions whose existence, by the way was
unknown to government employees earning salaries OF
between 81. 900 and Il 500
After the First National Bank Of Pittsburgh
closed last year many depotorS wanted to leave large
sums with the postmaster OF that city. These sums
r,nged from 81 600 to $1,000 While no record
kent Of the amount offered and refused the aggregate
was IN excess of 100000 Despite the limitations, the
deDosts i'm Pittsburgh increased more than s25OOOO IN
the four months following the failure and the postuas
fer stated in his report that but for the limit his
office would have taken in s2OOOOOO IN SIX months as
against the total then record OF SiOOOOO lronwoot
MICHIGAN. with about 1900 population. made
a savings depository in May, 1911 bank failure
occurred there a year afterward The postal savings
at lronwood now aggregate about $4,000 more than
many cities Of ten times the population accumulate.
one poor fellow discovered the disadvantage OF Inn
tied protection only few weeks ago He brought 500
10 deposit with the Washington postmaster. He de-
posted the 500 receivable under the present regua-
tons and carried the other $500 on his person short
, l.tar he ,r4s robbed Of the latter slim Another