Evening star., 1932-01-27
SAVINGS DEPOSITS
CONTINUE TO GAIN
Mutual Savings Banks Score
Record Marks in 1881,
Reports Reveal.

The trend of savings continues up
ward, despite the present condition of
industry and the extent Of unernploy-
ment Figures made public today by
the National Association of Mutual Saw
ings Banks showed that total deposits
in mutual institutions reached the rec
ord total on January l of $1O,O3O,Ol4,-
1856, while total assets likewise reached
the record figure of $11 ,2O6 875, ,737, pro-
viding SLIPS, ,253 ,973 Of reserve TO as
sure the safety Of deposits.
Total figures for January l reached
record proportions in almost every IN
stance, although the years results were
not uniform in all sections. OF the IL
States having mutual savings banks
there were that experienced Snght re-
cessionS in deposits. The other 13 reg
istered gains Thus the total increase
in deposits for 1881 was $685., ,28l 1893,
and very considerable part of that in
crease was represented by the gain in
New York savings banks, which amount
ed to 1856, ,348,132. The gain in II 9TH
er states amounted approximately 10
$10O,0 900.
The year 1929 is usually thought OF
as part Of the boom period because
the crash in market values did not
come until the last quarter. And 1881
may be definitely placed in the worst
phase of the depression. Yet the total
Increase of mutual savings bank de-
pOsits in 1929 was only $65,236,264 or
$4,000 900 more than the increase IN
the final six months of 1881. For the
whole year Of 1881 the gain in deposits
was but S27 900 900 below 1880, when
the entire gain represented 1892, GOT 44O.
The two years produced almost identi-
cal results.
Gain in DepOsitors.
Savings bankers emphasized that the
increase in deposits should not over
shadow the gain in depositors, the in
crease of 584,179 indicating that
larger number Of people than ever be-
fore were trying to assure their 1nde-
pendenCe. This increase brought the
total of depOsitOrs to 13,359.67l, the
greatest number recorded in more than
a hundred years OF operation Of the
mutual savings banks. AS in the case
of deposits, New York provided the
largest proportion of new savers last
year-490. 1872.
While deposits, depositors and assets
were increasing, the average account
also rose to S75O.77 from S740 85 year
ago, but decreased slightly from the
average on July l Of S753.56. New YORK
had the high average of 1855. SO. Rhode
Island came next with S8I95 and In
diana followed, S779O4.
Perhaps the most satisfactory Of
these uniformly pleasing results was the
gain in surplus to 81 1923 253 ,973, also a
record figure and an increase OF almost
$4,000. 900 for the year New York
There was a small decline in the aver
age ratio Of surplus to deposits. from
ll5 to l1.2 per cent. In this conneC-
ton Delaware showed the highest ratio
Ill per cent. followed by Indiana with
1879 per cent and New York with l26
per cent.
Regular Dividends Paid.
In year of defation and uncertain
values in many other fields not single
mutual savings bank failed to pay It's
regular dividends, which amounted to
a national average Of 4.32 per cent on
approximately $4,000 100000, paid
throughout the year, Connecticut had
the highest average rate Of dividends
475 per cent, with Massachusetts next,
4.58 per cent, and Delaware third, 450
per cent.
Whlle omClaIS OF the savings DanKS
expect a continued steady flow Of de-
posts. it is nevertheless true that the
last SIX months of 1881 made the ef-
fort to save harder than before. The
first six-month period of the year saw
an increase in mutual savings bank de-
pOsirs of S512 235. .489, while the gain in
the last six months was S53,046 ,404.
Other ClaSSifiCatIOnS were comparable,
the gain in assets for the first period
being S550.3O 938 and for the last six
months S7l,5l4,478. But the proper
tionate increase in depositOrs for the
two periods was less marked-464, ,29O
and 1889, respectively.