New Britain herald., 1916-11-24
TRUST CO. ENJOYS
PROSPEROUS YEAR
Increases Deposits by More Than
100000 in Eleven Months
WILL DISTRIBUTE $4,000

Business Under State Charter Shows
Substantial Gains-Transfer Sta
ner-Selectmen Grant Petition.
Completing eleven months as a trust
company, officers of the local bank
! yesterday issued a statement on call
on the state commission, the report
| showing the most remarkable increase
! in the business Of the corporation dur
| ing any corresponding period of it's
seven years Of existence. A gain of
approximately 100000 in deposits
was registered since the bank secured
a state charter last December.
| Bankers of the state have expressed
surprise at the progress made by the
| local institution and the officers have
received many compliments on the
sue IS that has been achieved dur
| ing the year.
Directors Of the bank report that
| since they secured trust company
| charter they have been able to serve
| this locality in much better fashion
! than they were under the old ar
! rangement. They figure that during
| commodate patrons to the extent of
more than 100000 over what their
! business under a national charter per-
mitted.
Savings accounts have been in
creased by $50, 900, representing near
ly 2,4O0 depositors, compared with
about 1900 whose names were on the
books a year ago. Checking ac-
counts now number about 500, an in
crease Of IS in a year, and represent
ing an aggregate gain Of $4,000
The total deposits now nearly ap-
proach the half million mark, a re-
suit Of which exceeded the expecta-
tons Of the most sanguine members
Of the board Of directors when the
bank was first organized.
Plans are now being made for the
distribution of about $4,000, which
is the total amount Of the Christmas
club savings deposits. About 400
people will benefit by the distribution
and will receive checks representing
their accounts on December 49,.
The books show that the school saw
ings department has nearly 500 de-
pOsitors and is growing steadily.
Treasurer MacLeod's report shows q.
surplus and undivided profits account
representing about $4,000 and it is
expected that the amount will be ap-
probably increased before the end Of
the year.
Plainville people have taken a great
interest in the development of the
bank since its institution and they
have watched it's growth with pardon
able pride from it's infancy The
efforts Of President Trumbull and his
associates on the board of directors
augurs we'll for their sound judgment
and conservatism and indicates a.
splendid future for the bank
The growth in the checking depart
ments OF banks serves as a barometer
for town conditions and in the in
stance locally it indicates that Plain
vile is enjoying its full share Of ma
tional prosperity and is making good
progress
Turkey Dinner 19c.
While the price Of turkey is ex-
pected to be unprecedentedly high for
the holidays, employees of the New
Haven road at the transfer station may
snap their fingers at the butchers and
marketmen, the officials Of the system
having made arrangements to supply
them with the national bird and all
the fxin's on Thanksgiving Day,
charging them but 19c for the meal.
The supply department of the rail-
road has ordered nearly 500 worth
of turkeys for the Thanksgiving din
ner at the local station, and tho
workers (whites and blacks alike) are
assured Of a most bountiful repast
when they gather around, the festive
board.
Many Of the men employed at the
yards are either homeless or are sep
m
road has arranged to have a family re-
union in their shelter cars and about
seventy-f1ve men will enjoy the spread
which they will serve in Plainville
The transfer station workers are |
paid $12 a week for their wages, the |
company deducting 81 from this
amount for their board. They charge |
each man at the rate of 19c a meal. |
There will be no advance in the price !
on Thanksgiving and the men will |
have one Of the cheapest turkey din
ners served on the holiday.
Selectmen Consent.
Permission to dig up the highway
on West Main street and Central |
Square has been given to the Southern !
New England Telephone company by
board of selectmen. The company
claims that its business has grown to !
such an extent that the cable required |
for the wires it uses is too heavy to
be carried on poles. They want it in
an underground subway and they
asked the selectmen to be allowed to
lay the pipe in the street from the ex-
change to a point near the corner Of
Whiting and East Main streets
While the board is not anxious to
have the macadam or the pavement
disturbed the members, feel that the
company's request is justified and
would have the sanction Of the pub
lie utilities commission should it be