The Waterbury Democrat., 1936-07-28

MN4W HIVE A8MM.It AAA0eNA9A s3~NNN-SD-' baEks in the country are: BoWeFy Mn0lnaD HanE, New York city, de- pnslss Uk elD0, 60, ,eli; Emigrant Inc fnnfrial gayineB Bank of New York cftw. depOsfEs Og e41e, "A, ,6o0: Phila- N1inhia eavingg, Fund Society os phiia6sIphia, Ss30eT0. .4iS; Williat1h- bhrRik Savings Bank of Brooklyn, N. Y.. e224. .675, ,l32; and the Bank for Savings, New York city, e20O,- O67,s16. The deposits of the Water bury gevins Bank amount to es3ssT.OS4.
 The other four leading mutual aayings banks In Connecticut and their deposits are: Society for Savings, Hartford, s20, 02o, ,l2o; New Haven Savings Bank, New Haven, e10,TA7,Oe2: Connecticut Savings Bank, New Haven, e40.6s5, ,6o3; and the BTidgeport-P Peoples Savings Bank, Bridgeport, $37,03S,l75.
 New York, July 2S.-Deposits in mutual savings banks of the United states crossed ten billions of dollars on July l, 6 matter of 10 millions less than the all time record estab- lished in 1882. The exact figures were eiO,020, ,0i3,775. In the 16 of the l8 states where mutual savings banks operate there was a consist ent rise of deposits in the first half of i030. Massachusetts led with a gain of 932Tl0,724, followed by New York with S3l ,370,324 and Connec- ticut slO,243, ,140. The gain for the half year in all of the states was oiO2,2OO, ,723, or more than twice the increase in the last six months of io36.
 m the first half of 1888 deposi- tors of mutual institutions also grow in numbers, the increase of acc counts amounting to 202,236, bring. ing the total to Q new record of il,34O,O47. This was substantially higher than ever before in the l20 years of mutual savings banking and the rate of increase also rose above that in the last half of 1885. Massa- chusetts again led with Q gain of 0oi46 depositors, New York was second with 60,304 and Connecti- cut third, 33,i42.
 Assets Advance
 While deposits and depositors were increasing, assets likewise advanced to their highest point, $il l,34O, ,335,582 New York had the largest gain, a42.64B, ,3O0: Massachusetts $40, GAG, ,634; Pennsylvania $l6,24o,222. Total gain for the le states was Sl36,942,bS4, alDo maintaining the accelerated rate of increase.
 Tine combined surplus account ross by S2e,l26,9 ,9es to sl,23a,o77 .oSo, another record. The New York banks gained by il,373,200, Penn aylyania by S0,Bee,i04 and Massa. chusetts by S4,820,564. The rate Of gain was moderately higher. Surplus ratio to deposits for the 1o states now stands ct 12A per cent, an ir- crease of two.tenths of one per cent, providing c reserve of more than i2 cents for each Sl of deposits.
 Average Account
 Other figures governing mutual denogitS were of interest The aver. mo account on July 1 stood at 060e.74, a decrease of almost $6 per Account in the half.year. This fact was explained by the large number of new, small accounts. Rhode Island had the highest average Of accounts, Ss46.06, New York $7S8.o4 and Massachusetts $668,76. Average dividend rate for all mutual banks was 268 per cent, rcflecting the ss,a t4y4,,ad ioW earning power Of capital. ,..
 Mutual savings officials said that growth of deposits and depositors pointed to general improvement. The increase of small accounts iS held to bc especially symptomatic Of saving spirit. Numbers of such ae- counts are opened with no more than a dollar or two ana savlngs Bankers note that many of these accounts are growing by similar amounts.