Evening journal., 1923-01-30
MILLIONS IN
RESOURCES OF
STATES BANKS
Cont ued from Fir. i'as.N

legislature OF 1927. commenced
business in Wilmington during
October OF last year.
Taxes were collected for the
year from State banking inst.tu-
lions 10 the amount OF S2A770.34
and from National banks TO the
amount OF ss.ES1.92. making a
total or s3S.3522 %. which is an IN
crease over the amount collected
/ last year Of sS5s.9l.
The total examination foes col
/ lected from banks during the year
amount 10 s2424.55: from Building
and Loan Associations t6ae.97; GER
iihcate n new bank $4,000. and
Licenses 20 Building and Loan Asso-
ciations s1s5.00. making the total
ncome from this department for the
year s36.7Oe.40. This amount is
t12.s2852 In excess OF the income
% the department for the year. 1920,
which was the FIRST full year after its
establishment. This increase or in
come alone exceeds the total cost OF
operation OF the department for the
past year.
An examination OF all State Bank
ing Institutions was made during the
year The examination department
~ the Federal Reserve Bank co-op-
Grated with This department in the
examination OF the following insti-
-ut.ons which are members OF the
Federal Reserve system VIZ:
Equitable Trust Company. Will
mington.
Security Trust and safe Deposit
Co. Wilmington.
Wilmington Trust Company. Will
mington.
Milford Trust Company. Milford
The cooperation OF the Federal
Reserve examiners in this respect
has been OF material help in facilitat-
Ing the work and In lessenlng the
expenses. In the examination OF
some OF the larger institutions Il was
necessary 10 employ additional eK-
aminers In order 10 give those insti-
tutions the service which they should
lave.
The demand on Banks and Build
ing and Loan Associations for loans
on mortgages has been very great ,
during the last year. During thisl
period the two mutual savings banks
made new mortgage loans amount
ing to tI.3O6.O9O.OO The ,otal mort
gage loans held by Banks. Savings
Banks. and Building and Loan Asso-
Citations amount to approximately
t16.325. 10000. as follows:
Mutual Savings Banks, 'e'774,-
10000.
other Banks and Trust Companies.
t5.262.s5s.OO.
Building and Loan Associations
81 2ss 0OO0s.
The school savings idea has been
in the public schools u
through the co-ope-ation /
OF one OF the mutual savings banks.
II is reported that during the period
from November 30, 1922. the date
of the starting of the system. TO De-
rember 80. 1922. that ten thousand
1--WE hundred and eighty-scven pupils
lvalled themselves of this opportun-
ty 10 save. The total balances 10
he credit OF these children on the
after date was reported TO be Sill
IO5.OO Ninety-two rooms in the
Wilmington schools report one-hun-
lred per cent. OF enrolment as haV-
ng opened accounts. The number
II deposits each week ranges from
tx thousand FIVE hundred 10 eight
thousand one hundred. As inc
natter OF thrift is largely controlled
~ habit. the plan OF instilling IN
he minds OF the children the valu-
Ible habit of saving. viii no doubt
end TO develop them into better
.ltizens. It is hoped that this idea
yill be further developed In other
owns throughout the state.
Building and Loan Associations.
These associations have become ,
IN important element among the
inancial institutions OF the state.
they are becoming more popular
nd are commanding the confidence
4 the people They fll a valuable f,
lace in the community by anording
means Of systematic savings for
ne small investor. which usually E
sturns him more than six per cent 4,
nd permits him to obtain n mort
age upon his home with the op- d
ortunity Of paying il Off in month d
, installments. These associations s
ave been a valuable help in sup p
living mortgage money for the pur- a
hase OF homes. experimenting ma p
,rially the amount. invested in e
,ortgaces by banks and savings n
anks. During the PAST year there q
ave been nine new associations a
,rmed and have started business.
hey are all showing signs Of pros {,
aritv and bid fair to grow into I,
iccessful financial institutions. ri
The building and loan association Il
ca has been fostered by an organ ii
alton Of public-spirited men in in
.ilmington known az the Building ss
I'd Loan Information Bureau. e'
reat credit is due this organization II
n its service in encoura cing the d
rmation OF new associations. and ri
ey have co-operated splendidly p'
i'm this department in the drafting
a model charter and bylaws. and N
tn, adopting OF standard and RI
odern methods OF accounting. pi
lis bureau has now dissolved and Is
succeeded by the Delaware Build
2 and Loan Association League. co
lich plans to carry on a similar &c;
)rk. in
All OF the associations that have ne
en- doing business longer than one tn
ar we're examined during the past
ar by this department, and de- tn
ur