Evening journal., 1921-06-07
TOINSPECTNEW
BANKING HOUSE
Savings Fund Society Build
ing Open TO Public Sat
urday Afternoon
so YEARS OLD, HAS
81, 1,37S DEPOSITORS

The new building Of the Whining
ton savings Fund Society. at the
southeast corner Of Ninth and Mar
ket streets will be open for inspec-
ton OF the public on Saturday after
noon from to o'clock. At the
time a booklet containing a brief
sketch Of the society will be dis
fributed. The society, which was
established in 1882. now has 31,S7S
depositors and assets Of S16,6bl,356.
The new banking house is valued at
S4s4.00O in the assets. The sketch
Of the society reads:
"Eighty-nine years ago when Will
mlngton was a small town OF less
than 1000 people, the Wilmington
savings Fund Society started on its
mission of usefulness to that COM
munity. The first article OF its By
Laws somewhat quantity announced
its object as follows.-'Article /.
This institution is Incorporated and
organized for the purpose Of receiv-
ing such small sums Of money as
are the profits Of industry and econ
omy. or legacies or donations TO Wild
ows. children and others who may
need its aid; and investing the same
in Public Stocks or such other sate
securities as may from time to time
be deemed expedient by the Presi-
dent and Managers. and thereby
afford to such persons the two fold
advantage Of security and profit
in the early days Of the Society
the managers were required to allot
among themselves the duty of at
tending at the Office whenever 1t was
open to receive and pay deposits;
appointing two managers to this
duty for each calendar month. The
attending manager C o u e the
money OF the depositOr entered the
amount in the deposit book and sign
ed It. The treasurer also counted the
money and affixed his signature.
The Office hours were from TO II in
the morning and from to s in the
afternoon, on Saturdays only.
"These hours were in force until
1879. then changed to the usual bank
ing hours from a. m. to 3 p. m.
daily. The Board meetings which.
were held at 7.3O p. m. quarterly
were changed TO 4 p. m. monthly.
"The first audit was made about
is months after organizing. This
showed 420 depositors and assets of
s19.bSS. Up to the year 1856 the
business was of slow growth. Dur
ing that year the Society finished its
building at S. f. Corner Of Sth and
f1ta~a
from the office it had so long oc-
cupied at Gil Market street This
new Office accommodated the busi.
ness until 1856 when a move was
again made. this time TO the build
ing at S. F. Corner 9th and Marke
Streets After 35 years use OF thi
building II was torn down and tn
present magnificent building erecte
in its stead.
.'The growth Of the business a
measured by its assets has been a
follows
From Organization to 1862.
Prom 1856 to 1sss-ss years
$2,s16.OO0.
From 1888 to 1885 years
SlO.573, 900.
~From 1918 to 1927 year.
$16.55l. 900.
"The remarkably rapid growth OF
the business Of the Society during
the last years made it only a mat
ter of common prudence to secure
larger and more modern quarters
ample TO accommodate the bushes
for years to come. This it believe
it has done in a manner creditabl
alike TO itself and to the communit,
"The management of the Societ
has always been conservative. II
value to the public has not bee
wholly confined TO caring for III
funds entrusted 10 II by depositor
but has fncluded the upbuilding
homes. as shown by so large pr
portion Of its investments being
mortgage loans.
''The good influence OF this quiet
managed institution during It's ii
Of almost a hundred years should n
be overlooked OF underrated. Amor
its Managers and Officers have be,
judges. lawyers. physicians, mani
facturers. merchants-m n indes
representing most all kinds Of bus
nes-men Of ability, Of public spir
and large experince-who have give
freely Of their time and talents 20 n
successful conduct Of the Society
affairs"