New Britain herald., 1926-01-21

the incorporators, January 20 l92G:--
 Report of T.. Y. Stanley, President SAVINGS BANK of NEW BRITAIN For the Year Ending Dee. 3t, 1925. To the lncorporators of the
 Savings Bank of New Britain. Gentlemen;
 Under the provisions Of our char ter you meet once a year to hear the report of tho condition and opera. ton of the bank for tho year and 10 elect its directors, and through this function is vested In you the control Of tho bank. That you ap- pr"ciato this responsibility Is mani- Tested by your regular attendance upon these meetings in so large number, It is always gratifying 70 | tie officers to have this evidence of your intcrcst annually displayed and 1t is because of this interest and responsibility that in my an nual reports have set forth in con. siderable detail tho operations Of tho bank, feeling that you should ho fully informed upon all tho de- tails of i.s management and the character and diversity of it's in- ycstments.
 Tho past year in the history of the bank Nas been one of no un- usual occurrences. The amount dc. rositcd during the year and the amount withdrawn was not mater tally different from that of the year 1924. The net gain in deposits for the year ia sliE fly In excess of the gain in l924,--thc difference being $@6,00S.ol. It is also true, as in 1924. that the greater part of tho gain was during tho first six months of the year.
 As has been the case for many years past, the largest amount Of investment In any one class has been real estate loans, the net increase In which wa; S7SG,S50. The other pr" cipal Investments of tho funds of the depositors have been fin for c!gn government bonds. municipal bonds and 1ilroad equipment tonCs.
 The gross earnings of the bank l have bcc lfrger than ever before and. as shown by tho detailed state mcnt given hereafter, were within 2%o,O00 of million dollars. and, in the opinion Of the officers and di- rector, ample to warrant the con- tinuanco of interest 10 depositors at Inc rate Of five per cent during the ycar,--thcro having been surplus earnings of Sl03,4GG.54, after paying to the dCpositors, at this rate, divi- dcnds amounting 10 $7T3,414.01.
 Liberal charge offs from the pre-. miums on bonds purchased during the year haVo been made, and the net increaso in profit and loss ac- count was S9S,5S3.34.
 There is but one loan, collateral or real estate, upon which the in- 'crcst remains unpaid for more than six months; this is a real estate loan amounting 10 S5,500,--th0 in- torcst upon all other loans having been paid promptly and, with few exceptions, within q very short period of the due date The interest Upon all our bond investments com. | ing due during the year has been raid. There has been no necessity ! for the institution of any fore closure proceedings and no fore c,osod real estate is held by the bank.
 The market value of all classes of securities is considerably in ex. 1 ccss Of the values at which the se- cnrities arc carried upon the books '@nd on t1o first of January, 1926, were as follows;
 State Bonds .........s Slc.50 ] City and Town Bonds 72,Go2.5O Railroad Bonds ...... 1S0,655.00 Railroad Equipment
 Bonds ......,..... 1t,59i.65 Public Utility Bonds .. 1,523.75 United States Govcm-
 mon; Securities .... 5S,057.7a Foreign Government Bonds .,........ 41,9S5.92 Bank stocks ..,,.,.... 170,91S.00 S53Ti4I1l In accordance with tho provisions of the b, laws. herewith submit a statement of the condition of the bank, rpnuary ]. 1926, and an an. aIysis Of this statement, showing tho changes in the various items there |Cf: Assets
 Loans on Real Es- tate ....,.,...,..S 9,o99, ,564O0 Loans on Stocks and
 Bonds ........, S59.t09.O0 Loans to Cities and 1 Towns ......,.... 100000 United States Bonds
 and Securities .. 1,S99,334.t1 Foreign Government
 Bonds .......... 1.S0N,T31.LS State Bonds ..... 26,000 co City and Town Bonds 1,62:,S5o.n0 Railroad Bonds .... l,179.l70.oo Railroad Equipment Bonds ...,.,..... 537,55O.GO rnbic Utility Bonds 97,G63.7a Rank Stocks ...,.. 244,7ST0O Real Estate, Banking
 Honso ....,..... 100.000.00 Deposits in Banks and Trust Companies
 and Cash ........ SSS,42462 SuSIcnsO Account Q. 26,00 Insurance Account .. ll.2a
 $lS,404,22l.9: Liabilities Deposits ...........Sl7,192.29S.94 Interest Account .... S5.0On.o0 Snrpm7 Fund ....... 1,0J0.OO0.U1 i Profit and Loss AC-
 count ........... 196,922.9i
 SlS,iO42?l.9l Accounts