The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-12-04
Accounts in U. S. Banks
Drop II Per Cent From
Last Years Report.
BIZ Times Special

| BIZ Times Special
NEW YORK, Dec. 4-Savings de-
posts as represented in savings ac-
counts and time certificates of de-
post in banks and trust companies
Of the United States totaled S21, 424,-
226.OOO on June 80, 1888, held by &c.
267,733 depositors, according TO re-
! ports received by the savings divi-
sion, American Bankers Association,
it was announced here today by w.
Espey Albig, deputy manager Of the
association, in an article in the
American Bankers Association Jour
nal This marks a recession of
S2,857 10000, or lib per cent from
the amount on deposit one year
earlier and of S7O54, 405 900, or 24.8
per cent from the all-time high
point of S28,478, 631, 900 established in
1880, he said
The loss in savings during the
last three years is represented in
part by boards, part is tied up in
closed or restricted banks and part
is deposited in postal savings not
reported by banks, but without
doubt large part was expended
| for living expenses and for burden
some tax levies, which tend to be-
come intolerable during hard times"
Mr.. Albig declares.
DepOsitors Suffer. Decline
1.-THE loss of market, cessation of
industry, slowing down Of transpor-
tation, banking difficulties and I'M
employment of many millions of
people have in three years reduced
the savings of each inhabitant in
the United States from 1892 to $170,
or by $62 a person" he continues.
During the last year alone the re-
duction amounted to $24 per inhabi-
tant.
I'm the face of a population in
crease of 871, 900 during the year,
the number of savings depositorS
suffered a reduction in their ranks
of 5,084,373, or 11.5 per cent from
the previous year. The number now
stands at 39,267,733 The year 1928
marked the top in the number of
savings depositorS, when there were
53,188,348, which represented 44.3
per cent of the population of the
United States, as against a percent
age of 311 per cent having savings
in banks on June 80, 1888"
The report contains the following
regional analysis:
The loss per inhabitant in New
England is relatively small as COM
pared with that of year ago, being
$29 against a loss of $54 last year.
The whole district sustained a loss
of So per cent, but the savings per
inhabitant continue high, being
$517, the largest for any regional
group in the United States, with
total savings deposits of $4,284, 434,-
900 and depositors numbering 6,478,-
544 Massachusetts continues the
lead among all the states in having
the highest savings deposit per in
habitant, 1881.
Percentage Increases
In the middle Atlantic states, with
their great density of population
and varied industries, is found the
great bulk of the savings of the
country, $1O,7O1 ,622, 900, 400 per cent
of the savings total for the country.
New England and the middle At
lantic states combined raise the
percentage to 500 per cent. The
loss in savings per inhabitant in the
middle Atlantic states was IL per
cent against loss of lis per cent
the previous year. This means that
each inhabitant in these states has
$23 less in savings than year ago.
In the two great savings areas OF
the country is promise given that
with a slight upturn in prosperity
savings in banks would rapidly in
crease. In the middle Atlantic
states the number of depositors de-
creased during the year by 1873, 428.
The volume of savings stands at
O,701, 622,0OO, or $685. per inhabi-
tant, with 16,911,411 depositors. New
York leads this group with savings
per inhabitant of $543, second in the
United States only to Massachu-
sets.
In the southern states too the de-
crease in savings is Slighter than
that of year ago. The loss per in
habitant was Sc, or 14.6 per cent, as
against SO, or 18 per cent a year
ago The total volume of savings
in the southern states is represented
by S1,199, 785, 900, with 3,315007 de-
positors, a decrease from last year
Of $3.50, ATT 900 in deposits and of
1882 depositors. Savings per in
habitant are $35. The resourcefuI-
ness of the people of this section is
shown in the sharp decline this
year in the run-off Of savings. Evi-
dence abounds that a reasonable up
turn in business would again put
savings in this area on an upward
trend.
Savings Volume Drops
Savings in the east central area
declined this year from $126 per in
habitant to $83. The percentage loss
per inhabitant is 43 per cent. The
volume of savings now aggregates
S2,866, 050,000 as against $4,340,-