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No. 8

Public Document

A N N UA É’Â é 'R T ^ . ' i v H !Ü Ä

BANK

COMMISSIONER
1908

PART I
R E L A T IN G TO

SAVINGS

BANKS, INSTITUTIONS FOR

SAVINGS, TRUST COMPANIES,

AND FOREIGN B AN K IN G CORPORATIONS

BOSTON
W RIGHT & POTTER P R IN TIN G CO., STATE PRINTERS


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Federal Reserve Bank of St. Louis

18 P ost Office S quare
1909


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Federal Reserve Bank of St. Louis

A pproved
T he S tate B oard

of

by

P ublication .

33X1
fY\3S
0 * 5 , I

®l)c Conniuimucnltl) of ittassculjusctts

O f f ic e

B a n k C o m m is s io n e r ,
S t a t e H o u s e , February 16, 1909.

of the

To the General Court o f Massachusetts.

As required by law, the portion of the annual report of the Bank
Commissioner relating to savings banks, trust companies and foreign
banking corporations is herewith submitted.

SAVINGS BANKS
Number of Savings Banks

The total number of savings banks on October 31, 1908, remains
at 189. The Hibernia Savings Bank of Boston, chartered in 1907,
and the Italian-American Savings Bank of Boston, chartered in 1908,
have not yet been organized.

Condition of All Savings Banks

The following statement shows the aggregate assets and liabilities
of the savings banks on October 31, 1908, as well as on the corre­
sponding date of 1907, together with a table comparing by per­
centages the distribution of the various classes of investments for the
last five years and for the years 1903, 1898 and 1893: —

lL>
Uq

£


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Federal Reserve Bank of St. Louis

R E PO R T OF TH E

[Pub. Doc,

1893

1898

1903

1904

1906

1905

Percentage of Investments to
T otal A ssets on O ctober 31

October 31,
1907

1907

October 31,
1908

ASSETS

1908

IV

Securities

Public funds .
. . .
Railroad bonds
Street railway bonds
Boston Terminal Co. bonds .
Telephone company bonds
Bank stocks .
.
.
.

$77,941,775
140,148,263
15,633,616
9,643,461
3,147,285
11,416,195

22
47
53
37
13
42

10,996,223
7,191,359
527,040
1,501,674
183,583
25,000
2,000
25,000
714,789
67,247
322,710,828
128,965,546

02
19
00
25
00
00
00
00
01
08
90
37

$75,957,702 55 10.23 10.03 10.33 10.74 10.73 10.68 14.04 13.29
134,573,361 93 18.40 17.78 17.61 17.76 16.83 15.74 11.11 8.52
13,528,058 83 2.05 1.79 1.63 1.09 .94 .58
9,843,960 00 1.27 1.30 1.37 1.44 1.62 1.72 1.61 _
_
_
_
.41 _
11,983,698 47 1.50 1.58 1.73 1.89 2.14 2.42 5.06 6.84

Loans

To counties, cities or towns
“ railroads .
. . .
On public funds
“ railroad bonds .
stocks .
“
notes .
“ street railway bonds .
“ Boston Terminal Co. bonds
“ bank stocks
“ depositors’ books
“ real estate
“ personal security

13,320,567
8,916,146
1,539,795
2,791,495
349,276

1.44 1.76 2.27 1.95 2.03 2.28 2.21 2.26
.94 1.18 _
.17 .28 .17
.95
.07 .20 .26 .12 .11 .21 .26 .34
.20 .37 .47 .25 .25 .24 .09 .40
.02 .05 .04 .04 .06 .11
12 .33

54
91
00
00
00

-

202,850 00

_

853,900
68,190
309,996,918
144,616,671

.03

.02

_

.01

_

_

.09 .11 .11 .13 .15 .17 .35 .55
11
.01 .01 .01 .01 .01 .01 .01 .01
54
87 42.36 40.95 40.10 40.46 40.93 41.12 42.18 40.97
91 16.94 19.11 20.31 19.80 19.45 20.21 17.24 20.91

Real Estate

For banking purposes
By foreclosure, etc.

7,540,852 61
3,623,749 07

.99 1.00
.48 .55

7,564,088 16
4,202,959 50

.98
.48

.96
.55

.97
.59

.97
.61

.84
.48

.81
.24

Miscellaneous

Stocks, bonds, etc., taken to
secure indebtedness
Premium account .
Furniture and fixtures .
Sundry assets

602,086
267,809
54,167
60,714

79
69
75
26

452,549
290,074
56,582
76,674

16,899,868
218,770
l,55l’004
130,832

79
62
84
38

13,164,473
242 970
2,230,290
104,701

.08

98
47
36
62

1
\ .05
J

.06

.06

.06

.05

.04

.29

.06

.13

.12

.13

.14

.13

.15

Cash

In banks, on interest
not on interest
Currency and specie
Checks and cash items .

86
64
57 >2.47 2.08 2.09 2.46 2.72 2.58 3.98 3.43
95 )
•Wfl

$761,790,744 76 $756,927,959 77

O ctober 31, 1908

LIABILITIES

Deposits .
Guaranty fund .
Profit and loss .
Current interest,
less expenses
and taxes paid
Sundry liabilities

Amount

Per Cent,
of
Deposits

_

Amount

4 .7 3
1 .8 2

$706,940,596 04
32,825,176 05
11,096,415 30

5,722,644 03
70,818 39

.81
.01

6,031,487 96
34,284 42

-

100

100

100

100

100

100

100

O ctober 31, 1907

$709,519,730 40
33,547,581 14
12,929,970 80

$761,790,744 76

100

$756,927,959 77

Per Cent,
of
Deposits

_
4 .6 4
1 .5 7

.85
.004

-

1908

Increase

$2,579,134 36
722,405 09
1,833,555 50

-

Per
Cent.

.36
2 .2 1
16.52

-

36,533 97

106.56

$4,862,784 99

.64

1908

Decrease

_

$308,843 93

-

Per
Cent.

_
5 .1 2

-

Hot since the year 1879 have the savings banks shown so small
an increase in deposits as during the year covered by this report.
The previous year ended in the midst of the panic, and the effect
of the panic is therefore divided between the two fiscal years, 1907


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

v

and 1908. Whereas the deposits had been increasing, on the average,
$24,086,000 a year for the ten preceding years, in 1907 the increase
fell to $12,859,000 and in 1908 to $2,579,000. By applying the
ten-year average to the last two years, it may be estimated roughly
that the abnormal conditions which prevailed during parts of those
two years diverted from the savings hanks some $33,000,000 which
would normally have found lodgment there.
The fact that 107 hanks bought $3,147,000 telephone company
bonds in the five months prior to October 31, during which they were
legal investments, indicates a general approval of the legislation
which added them to the classes of bonds in which savings banks may
invest.
The proportion of the assets invested in public funds, which has
for several years been decreasing, shows a slight increase.
The
ability of Massachusetts cities and towns, since May 1, 1908, to
issue tax-exempt obligations has doubtless influenced the course of
this investment.
The increase in the investment in municipal and railroad bonds
was not unnaturally accompanied by a decrease in loans secured by
such bonds.
The investment in bank stocks shows a continued decrease.
But the most striking change in the investments is the increase
of. $12,714,000 in real estate loans, accompanied by a decrease of
$15,651,000 in loans on personal security, during a year in which
it was frequently stated at hearings before the committee on banks
and banking, and elsewhere, that the savings banks were refusing
to loan on real estate, and were loaning their available funds only
on personal security. In view of these changes it may be of in­
terest to reproduce here a table from the report made to the last
General Court by the committee authorized to suggest changes in
the savings bank law, which gives the yearly increase or decrease in
the amount invested in such loans.
This table shows in a striking way that the investment in mort­
gages goes on increasing at a comparatively steady rate, irrespective
of the rate at which deposits increase; but that the amount loaned
on personal security is an elastic asset, expanding when there is a
sudden increase in deposits, and contracting when the deposits tend
to become stationary.


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Federal Reserve Bank of St. Louis

VI

R E PO R T OF THE

[Pub. Doc.

Increase or Decrease, for a Period of Twenty-five Years, in Loans on Real
Estate and Loans on Personal Security
R eal E state

P ersonal S e curity

Y ear

Increase

Increase
$1,116,000

1884

..............................................................................

$6,619,000

1885

..............................................................................

6,227,000

-

Decrease
$415,000

1886

..............................................................................

7,003,000

9,018,000

-

1887

..............................................................................

7,584,000

7,122,000

-

1888

..............................................................................

7,533,000

1,647,000

-

1889

..............................................................................

7,610,000

3,225,000

-

1890

10,471,000

-

..............................................................................

8,417,000

1 8 9 1 ..............................................................................

10,374,000

-

1892

..............................................................................

12,127,000

1,426,000

-

1893

..............................................................................

8,096,000

-

5,346,000

-

9,881,000

1,144,000

1894 ................................................................................

9,393,000

1895

..............................................................................

9,985,000

10,829,000

-

1896

..............................................................................'

8,656,000

2,047,000

-

1897

..............................................................................

10,299,000

1,263,000

-

1898

..............................................................................

7,066,000

-

3,432,000

1899

..............................................................................

9,329,000

14,908,000

-

1900

..............................................................................

9,657,000

9,788,000

-

1 9 0 1 ..............................................................................

7,319,000

4,123,000

-

1902

..............................................................................

9,462,000

10,901,000

-

1903

..............................................................................

11,917,000

1,904,000

1904

..............................................................................

9,084,000

-

23,000

1905

..............................................................................

10,267,000

8,923,000

-

1906

..............................................................................

10,984,000

10,467,000

-

1907

...............................................................................

13,159,000

-

5,999,000

1908

..............................................................................

12,714,000

-

15,651,000

Condition of Boston Savings Banks

In accordance with the plan inaugurated in the last annual report,
a separate statement is presented showing the condition of the nine­
teen savings banks in Boston, which hold 31 per cent, of the savings
hank deposits of the State.
The table also shows by percentages the distribution of the invest­
ments on the dates specified, of the banks in Boston and of the banks
outside of Boston: —


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Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

Vll
P erce n "rAGE OF
I nvesi MENTS
to T ota
A ssets

October 31,1908 October 31,1907

ASSETS

1908
Decrease

1908
Increase

Boston
Banks

Other]
Banks

1908 1907 1908 1907
Securities

$27,280,037 09
Public funds .
35,588,798 45
Railroad bonds
2,971,400 00
Street railway bonds
5,472,108 00
Boston Terminal Co. bonds
751,650 00
Telephone company bonds
1,845,906 00
Bank stocks .
Loans

2,770,257 00
To counties, cities or towns
2,987,750 00
“ railroads .
155,215 00
On public funds
284,500 00
“ railroad bonds .
18,800 00
“ railroad stocks .
“ street railway bonds .
100,820 00
“ bank stocks
5,465 00
“ depositors’ books
104,064,682 66
“ real estate
42,247,762 39
“ personal security
Real Estate

For banking purposes
By foreclosure, etc.

84 $1,397,530 25
90 2,531,171 55
25
567,298 75
50
751,650 00
1,915,156 00

$25,882,506
33,057,626
2,404,101
5,472,422

3,456,029
2,970,000
208,715
713,500
53,996

35
00
00
00
00

-

127,180
4,700
100,783,086
46,896,926

00
00
86
85

17,750 00

-

11.53 11.11
15.05 14.19
1.26 1.03
2.31 2.35
.32 .78 .82
69,250 00
-

$314 50

9.65 9.56
19.91 19.37
2.41 2.12
.79 .83
.46 1.82 1.92

1.17 1.48 1.57 1.88
1.26 1.28
.80 1.13
.07 .09
.07 .25
.12 .31
.23 .40
.02
.03 .06
.04
.04 .06
.12 .14
26,360 00
.01 .01
765 00
44.00 43.27 41.63 39.93
3,281,595 80
4,649,164 46 17.86 20.13 16.51 18.65
685,772 35
-

53,500 00
429,000 00
35,196 00

-

2,838,816 27
401,183 61

2,822,475 27
456,939 02

16,341 00
-

55,755 41

13,100 00
7,337 58
4,286 60
7,682 85

15,800 00
17,765 59
4,714 95
2,944 94

4,737 91

2,700 00
10,428 01
428 35
-

1.20 1.21
.17 .20

.90
.61

.91
.71

.01

.11

.08

100

100

100

Miscellaneous

Stocks, bonds, etc., taken
to secure indebtedness .
Expense account
Premium account .
Furniture and fixtures
Sundry assets
Cash

6,102,658
12,412
573,706
23,021

In banks, on interest
“ “ not on interest.
Currency and specie
Cash items

57
54
17
75

4,806,106
26,742
815,394
21,295

14
82
63
58

1,296,552 43
-

1,726 17

-

14,330 28
241,688 46
-

$236,529,357 53 $232,936,126 49 $3,593,231 04

O ctober

LIABILITIES

31, 1908

Amount

$220,562,447 68
Deposits .
10,451,082 31
Guaranty fund .
4,283,760 61
Profit and loss .
Current interest,
less expenses
1,230,566 77
and taxes paid
1,500 16
Sundry liabilities
$236,529,357 53

O ctober

-

.01
1
[ ni
]
j
1

i
100

31, 1907

Amount

Per Cent,
of
Deposits

1908
Increase

Per
Cent.

4.74
1.94

$217,487,553 28
10,339,954 08
3,658,896 40

_
4.75
1.68

$3,074,894 40
111,128 23
624,864 21

1.41
1.07
17.08

.56
-

1,449,147 68
575 05

-

$232,936,126 49

-

Per Cent,
of
Deposits

_

-

.67

925 11 160.87
$3,593,231 04

1.54

1908
Decrease

Per
Cent.

_

_

-

-

-

$218,580 91 15.08
-

-

The deposits of the Boston banks increased $3,074,000, or 1.41
per cent., during the year, while those o f the other banks decreased
$495,000, thereby reversing the experience of the previous year, dur­
ing which the deposits of the other banks increased 1.85 per cent.,
while those of the Boston banks increased only .25 of 1 per cent.

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Federal Reserve Bank of St. Louis

R E PO R T OF THE

viii

[Pub. Doc.

The investment tendencies of the Boston banks do not differ
materially from those of other banks. The most noticeable difference
is the larger proportion of mortgages and the smaller proportion of
bonds held by the Boston banks.
Yearly Transactions

The following table presents in condensed form the statistics of
the transactions of all the savings banks during the past five years : —
Y eah

1908
Accounts

Number opened during year .
Number closed during year
Average in each account
Deposits and Withdrawals

Increase over previous year
Number of deposits during year
Number of withdrawals during year
Average deposit .
. . .
Amount deposited during year
Amount withdrawn during year
Loans

Of $3,000 or less Oct. 31
Average real estate loan Oct. 31
Number of new real estate loans
made during year
Amount of same .
.
.
.
Income, Dividends, etc.

Guaranty fund additions
Dividends to income
Expenses to income
State taxes to income
Guaranty fund additions to income .
Other deductions (see p. xvii) to inDividends to total assets Oct. 31
Expenses to total assets Oct. 31
State taxes to total assets Oct. 31 .
Guaranty fund additions to total as­
sets Oct. 31
. . .

e nding

1907

O ctober 31

1906

1905

1904

269,092
189,136
1,908,378
$363 70

244,050
180,685
1,829,487
$362 29

226,712
182,919
1,766,614
$357 36

$694,081,141 $662,808,312
$31,272,829
$31,494,512
1,880,854
2,118,271
1,461,109
1,414,479
$61 69
$59 16
$80 56
$75 90
$125,315,148 $116,026,890
$117,709,002 $107,361,106

$631,313,800
$22,898,391
1,756,003
1,420,421
$60 06
$73 58
$105,466,148
$104,508,951

72,922
87,168
$3,285 44

71,932
85,261
$3,238 51

t

233,484
231,150
1,973,926
$359 45

280,173
216,817
1,971,644
$358 55

$709,519,730
$2,579,134
1,899,116
1,801,708
$62 14
$78 92
$118,007,503
$142,191,093

$706,940,596
$12,859,454
2,267,290
1,599,310
$58 23
$90 41
$132,041,930
$144,588,418

71,163
88,199
$3,658 89

69,841
85,551
$3,623 53

9,324
$34,185,688

9,632
$37,125,432

$34,660,666
26,684,040
1,897,169
1,878,149
739,942

$33,981,164
25,405,942
1,789,485
1,897,693
1,213,560

68,786
82,552
$3,602 20

_

_

“

_
“

$31,251,869
23,665,106
1,648,061
1,854,131
1,511,138

$29,716,529
22,826,049
1,583,889
1,751,481
1,424,787

$29,138,722
21,941,039
1,546,904
1,658,765
1,266,552

Per Cent.
76.99
5.47
5.42
2.13

Per Cent.
74.76
5.27
5.58
3.57

Per Cent.
75.72
5.27
5.93
4.83

Per Cent.
76.81
5.33
5.89
4.79

Per Cent.
75.53
5.31
5.69
4.35

10.12
3.50
.25
.25

11.21
3.36
.24
.25

10.27
3.19
.22
.25

10.93
3.21
.22
.25

11.72
3.25
.23
.25

.10

.16

.20

.20

.19

A comparison of the transactions of 1908 with those of the four
preceding years gives further evidence o f the abnormality of the>
year.
The number of accounts in the banks increased during the year
by only 2,282, instead of by the normal increase of over 50,000.
The number and amount of deposits made and the number of new
accounts opened showed a marked shrinkage, while the number of

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Federal Reserve Bank of St. Louis

ERRATA.
able of “ Yearly Transactions,” under “ Ratios,” “ Other deductions to
read : —
08

1907

1906

1905

1904

99

10.82

8.25

7.18

9.12

tement of “ Bank A ,” “ Surplus ” should read, $250,000.


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Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

IX

withdrawals and the number o f accounts closed were greater than
those of any other year of which this department has a record, al­
though the amount of withdrawals was not so large as in the pre­
ceding year.
The high rates for money which prevailed during the early part
of the year resulted in the largest annual income the banks have ever
had, which is in turn reflected in the increased dividends credited
to depositors. These exceeded by $1,278,000 the largest amount ever
before declared in any one year. In considering the increased
amount of dividends declared it should be remembered that in a
year when deposits either shrink or fail to increase, as in 1908, those
banks which have accumulated guaranty funds equal to 5 per cent,
of their deposits make no further additions to such funds, and there­
fore have a larger income available for dividends. It will be seen
from the foregoing table that the amount added to the guaranty
funds o f the banks in 1908 was nearly $500,000 less than in 1907.
Surplus

The aggregate guaranty fund and undivided earnings of the sav­
ings banks on October 31 of the last six years have been as follows : —
Based on Securities at Book Value
G u a r a n ty F und

YEAR

Amount
$27,409,137
28,675,690
30,100,477
31,611,615
32,825,176
33,547,581

1903
1904
1905
1906
1907
1908

Per Cent,
of
Deposits
77
11
44
57
05
14

4.51
4.54
4.54
4.55
4.64
4.73

T otal

U ndivided E arnin gs

Per Cent,
of
Deposits

Amount
$13,349,928
14,356,710
14,568,166
15,439,780
11,096,415
12,929,970

42
55
58
20
30
80

2.19
2.27
2.20
2.22
1.57
1.82

Per Cent,
of
Deposits

Amount
$40,759,066
43,032,400
44,668,644
47,051,395
43,921,591
46,477,551

19
66
02
77
35*
94f

6.70
6.81
6.74
6.77
6.21
6.55

Based on Securities at Estimated Market Value
G u a r a n ty F und

YEAR

1903
1904
1905
1906
1907
1908

Per Cent.
of
Deposits

Amount
$27,409,137
28,675,690
30,100,477
31,611,615
32,825,176
33,547,581

* For purposes
terest, should be
f For purposes
terest, should be

77
11
44
57
05
14

4.51
4.54
4.54
4.55
4.64
4.73

T otal

U ndivided E arnin gs

Per Cent.
of
Deposits

Amount

$26,908,282
28,621,125
29,695,073
25,074,199
8,252,932
17,436,211

37
06
41
79
66
55

4.42
4.53
4.48
3.61
1.17
2.46

Per Cent.
of
Deposits

Amount

$54,317,420
57,296,815
59,795,550
56,685,815
41,078,108
50,983,792

14
17
85
36
71*
69+

8.93
9.07
9.02
8.16
5.81
7.19

of comparison with years 1903-1906, 16,031,487.96, representing current in­
added.
of comparison with years 1903-1906, 15,722,644.03, representing current in­
added.


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Federal Reserve Bank of St. Louis

R E PO R T OF THE

X

[Pub. Doc.

In 1907 a change was made in the form of report, by which the
undivided earnings were separated into two parts: first, the un­
appropriated earnings o f prior dividend periods; and second, the
earnings of the current period. Accordingly, the undivided earn­
ings of the years 1903 to 1906 inclusive represent both accumulated
and current earnings, but the figures for 1907 and 1908 represent
an actual surplus fund from which losses may he met without dis­
turbing current earnings and dividends.
This year the estimated market values of all legal investments in
securities, except public funds, are made up from uniform quota­
tions furnished to this department by reliable Boston bond houses,
and transmitted by it to the banks.
While the surplus, based on securities at estimated market value,
on October 31, 1907, showed a shrinkage of $9,576,000, the corre­
sponding figures for 1908 show an appreciation during the succeeding
year of $9,805,000, indicating that the securities held have increased
in value nearly 4 per cent, during the year.
The solvency of our savings hanks depends on two factors: first,
the security of their loans, which constitute nearly two-thirds of their
assets; second, the market value of their bonds, in which the other
third of their assets is invested. How are these assets affected by
money stringency or panics ? Well-selected personal loans, secured
either on corporate credit or by the pledge of stocks and bonds, are
affected but slightly; real estate loans become more difficult than
usual to convert into cash; and bonds suffer a decline in market value.
O f two banks which have equally well-secured real estate and personal
loans, the solvency of that one which has the largest percentage of
bonds will he the most seriously affected by a stringency of money.
This is best illustrated by taking two examples: —

Bank A
Loans
Bonds
Cash
Total

Bank B

$3,7 50 ,0 0 0
1 ,250,000
250 ,00 0

Deposits . $5,0 00 ,0 0 0
Surplus
250,00

$5,2 50 ,0 0 0

Total . $5,2 50 ,0 0 0

Loans
Bonds
Cash
Total

$2,5 00 ,0 0 0
2,5 0 0 o n o
2 50,000
$5,2 50 ,0 0 0

Deposits
Surplus
Total

. $5,0 00 ,0 0 0
250 ,00 0
$ 5,2 50 ,0 0 0

Let us suppose that at the date of these statements the hook and
market values o f the bonds are the same. In case an average decline
of 10 per cent, in the market values of bonds should then occur, the


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

xi

surplus (based on market values) of Bank A would be reduced to
$125,000, while the surplus (based on market values) of Bank B
would be entirely extinguished.
The recent stringency, resulting in a great and continued fall in
the market price of bonds, still left the Massachusetts savings banks
with an aggregate surplus (based on market values) of 5.81 per
cent, on October 31, 1907, and 7.19 per cent, on October 31, 1908.
It is gratifying to know that, taking the Massachusetts savings
banks in the aggregate, it would be necessary for their bonds to
decline nearly 20 per cent, from the relatively low values of October
31, 1908, before their aggregate surplus (based on market values)
would be extinguished. Having a relatively small proportion of
their assets invested in bonds, they are less susceptible to fluctuations
of the bond market than banks in those States where loans on cor­
porate or collateral security are not permitted, and in which the
banks are obliged to invest more generally in bonds.
Whenever the percentage of surplus of a savings bank, represent­
ing its margin of safety, is materially reduced either by a fall in the
price of bonds or by a rapid growth in deposits, the question of re­
ducing the dividend rate for the purpose of building up and main­
taining the surplus becomes of importance, and should be promptly
considered without regard to a possible falling off in deposits in
consequence o f the reduction; for the accumulation of a proper sur­
plus is of far greater importance to each savings bank and to the
system as a whole than the accumulation of large amounts of
deposits.
Interest Rates on Loans

The following table shows the rates of interest which the banks
were receiving on loans on the 31st of October, 1908, and the amount
of loans at each of the various rates. These figures are again pre­
sented subdivided into three classes, viz., (1 ) loans on real estate,
(2 ) loans on personal security and (3 ) other loans authorized by
law. Deposits in banks are not included in any of these classes.


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Federal Reserve Bank of St. Louis

Xll

R E PO R T OF THE

[Pub. Doc.

Total Loans of«Savings Banks on Oct. 81, 1908, at Each Specified Rate of Interest
Loans on Real
Estate

Rate

0
per cent.
1
“
2
“
2.50
“
3
“
3.10
“
3.125
“
3.15
“
3.20
“
3.25
“
3.30
“
3.33
“
3.375
“
3.40
“
3.44
“
3.50
“
3.55
“
3.582
“
3.575
“
3.60
“
3.625
“
3.70
“
3.75
“
3.80
“
3.85
“
3.875
“
3.90
“
3.92
“
3 94
“
3.95
“
4
“
4.05
“
4.125
“
4.15
“
4.25
“
4.234
“
4.30
“
4.333
“
4.375
“
4.40
“
4.42
“
4.50
“
4.55
“
4.60
“
4.625
“
4.75
“
4.875
“
5
“
5.10
“
5.125
“
5.25
“
5.375
“
5.50
“
5.625
“
5.75
“
5.875
“
6
“
6.25
“
6.375
“
6.50
“
6.75
“
7
“
7.25
“
7.30
“
7.50
“
8
“
Totals

.
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.
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.
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.

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.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Loans on Personal
Security

_

Other Loans

_

Total Loans

1,730,303 54
100,000 00
5,671,000 00
500,000 00
35,033,905 51
830,000 00
10.660 127 95
240,000 00
25,834,369 92
275,000 00
6,295,408 35
285,000 00
14,301,032 76
13,000 00
3,389,400 00
75,000 00
13,111,512 84
739,200 00
10,000 00
4,383,493 48
2,748,600 00
2,054,642 02
25,000 00
101,500 00
49,050 00

$45,000 00
66.100 00
36,650 00
130,000 00
120,450 00
122,010 00
37,760 00
1,800 00
103,854 00
28,580 00
55,100 00
1,110,825 63
10,000 00
89,800 00
10,000 00
77,000 00
392,449 80
20,000 00
498,868 22
53,193 37
128,000 00
93,368 32
159,400 00
100,000 00
5,000 00
35,000 00
3,441,050 63
75,000 00
99,660 00
15,000 00
571,112 03
49,181 37
430,012 15
15,000 00
5,000 00
1,906,982 59
190,000 00
15,000 00
320,000 00
50,000 00
5,973,713 33
764,750 00
749,388 37
20,800 00
50,000 00
2,568,380 74
10,000 00
25,000 00
115,175 00
225,000 00
8,500 00
10,000 00
-

$1,050 00
125,000 00
215,000 00
274,000 00
161,800 00
66,100 00
36,650 00
130,000 00
120,450 00
3,380,010 00
37,760 00
1,800 00
1,543,854 00
28,580 00
55,100 00
15,681,129 73
10,000 00
89,800 00
10,000 00
77,000 00
867,449 80
20,000 00
6,826,368 22
53,193 37
128,000 00
562,368 32
159,400 00
100,000 00
5,000 00
35,000 00
32,899,920 96
75,000 00
311,160 00
15,000 00
13,848,342 03
75,000 00
49,181 37
105,000 00
1,040,012 15
15,000 00
5,000 00
80,204,383 08
190,000 00
15,000 00
863,000 00
15,106,773 70
290.000 00
210,814,032 04
2,850 00
275,000 00
7,506,455 85
285,000 00
29,561,036 20
13,000 00
3,455,638 47
125,000 00
34,363,325 25
749,200 00
35,000 00
4,515,008 48
2,973,600 00
2,124,907 80
35,000 00
15,000 00
102,250 00
49,350 00

$322,710,828 90

$128,965,546 37

$21,233,915 55

$472,910,290 82

4.78 per cent.

5.10 per cent.

4.68 per cent.

4.87 per cent.

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.

$1,050 00
125,000 00
96,800 00
3,258,000 00
1,440,000 00
14,570,304 10
475,000 00
6,327,500 00
469,000 00
27,728,566 79
111,500 00
7,606,230 00
75,000 00
105,000 00
110,000 00
43,263,494 98
33,000 00
4,126,645 75
179,005,948 79
2,850 00
446,297 50
14,510,615 07
45,438 47
18,683,431 67
16,340 00
61,765 78
15,000 00
750 00
300 00

.

$215,000 00
274,000 00
20,000 00
-

-

-

xiii

BANK COMMISSIONER

No. 8]

In the report for 1906 the higher rates of interest prevailing
during the latter part of that year were noted, and a table was pre­
sented showing the fluctuations in the average rate of interest on
savings hank loans over a period of fifteen years. In view of the
continuance of high interest rates during the entire year 1907, this
table is repeated, with the 1908 figures added.

Total Loans

YEAR

Per Cent,
of
Total Assets

Average Rate of
Interest received
on Loans

1892 ...........................................................................

$290,532,231 22

69.86

4.78

1897 ...........................................................................

335,607,037 82

66.59

4.66

1902 ...............................................

418,836,566 42

67.02

4.53

1903 ...........................................................................

433,884,912 40

66.81

4.68

1904 ...........................................................................

443,322,758 60'

65.71

4.55

1905 ...........................................................................

461,178,640 74

65.16

4.44

1906 ...........................................................................

485,516,086 32

65.47

4.71

1907 ...........................................................................

482,655,811 88

63.77

5.03

1908 ...........................................................................

472,910,290 82

62.08

4.87

Expenses

The running expenses of the hanks for the two years ending Octo­
ber 31, 1907 and 1908, were as follows: —

Y eah
Classification

Salaries

.

.

.

.

R e n t .................................
Advertising .

.

.

.

Other expenses
Total

.

.

.

.

ending

O ct .

31, 1908

Y ear

ending IO c t .

31, 1907
Percentage
of
Assets

Amount

Percentage
of
Income

Percentage
of
Assets

Amount

Percentage
of
Income

$1,386,946

4.01

.18

$1,331,252

3.92

.18

143,958

.42

.02

.52

.03

32,679

.09

-

28,213

.08

-

298,499

.86

.04

286,062

.84

.04

$1,897,169

5.48

.25

$1,789,485

5.26

.24

179,045

The item “ salaries ” includes salaries paid to officers and regular
or extra clerks, and amounts paid to committees as fees and for
extra services. The item “ rent ” includes rent paid by banks which
do not own buildings, and in the case of banks which do own build-


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Federal Reserve Bank of St. Louis

R E PO R T OF THE

X IV

[Pub. Doc.

ings, the net expense to them of such buildings, disregarding interest
on the investment. “ Advertising ” includes only advertising de­
signed to make the hanks known and to increase their usefulness
to the community; routine notices are not included. “ Other ex­
penses ” does not include any expenses of the management of fore­
closed properties.
The increase in expenses was a little above the normal in both
190Y and 1908. Among other causes, the more general engagement
of accountants to audit the affairs of the hanks has doubtless tended
to increase “ other expenses; ” and the requirement that property
mortgaged to savings banks shall be periodically revalued by the
investment committee will naturally increase the amount paid out
in fees or salaries to members of that committee. But the latter
should prove a productive outlay, and should in time result in de­
creasing the losses from mortgage loans.
Dividends

The following table shows the rates of dividends paid by the
banks during the last seventeen years, as well as the average rate
earned upon the deposits: —
N um ber

RATE OF DIVIDEND

0

per cent.

2
3
s*

00

©
©

o
©

_

4
4*
4*
4*
u

5

Total .

]

-

-

14
15

2
1
49
37

98
13

155

98

74

2

1

-

*
©
Ci

m

m

-

-

4*

»0
©
CÌ

-

k

©
©

3

-

-

2

op

©
©
IN

B anks

©
©
H

H
©
©
H
_

1

p a y in g a t

©
©
©
H

©
©
*

E ach R a t e

©
©
00
T*

1»
© ©
00
*
iH **

00

IO
©
00
H

*1
©
00
H

©
(it)
*

©
<»

-

l

-

-

l
l

1
1

1
1
92
10

2
2
81
10

l
3
89
8

5
1
90
9

2
6
70
20

3
3
45
18

3
4
16
15

82

92

85

81

88 114 144 161 157 157 158 155 154 146
_
1
1
1
1 1
1
2
5 4
5 7
5
7
2
5
9 10 13 15 19 19
2
4
3
1
1 2
5
2
7

-

-

-

-

-

189 189 189 189 188 187 186 186 186 186

4
-

7
2

185

2

1

2

1
1
9

_

3

1
1
5

_

5
2

_

l
-

3

-

4

-

-

-

-

187 187 187 185 185 184

Average dividend

3.95 3.80 3.69 3.73 3.75 3.71 3.71 3.75 3.81 3.89 3.98 4.00 4.01 4.03 4.06 4.09 4.11

Average earnings

4.77 4.73 4.60 4.59 4.70 4.66 4.60 4.61 4.62 4.63 4.72 4.89 4.86 4.81 5.07 5 .0 5 5.16


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Federal Reserve Bank of St. Louis

No. 8]

xv

BANK COMMISSIONER

The extra dividends declared during the year were as follow s: —
Lynn Institution fo r Savings, IV2 per cent., .
.
.
Winchester Savings Bank, % o f 1 per cent, each period,

$75,474 67
5,233 12

The increase in the rates of dividends paid during the year ending
October 31, 1908, is even greater than the increase noted in the
last report. It will be noticed that the average rates of both dividends
and earnings are the largest in ten years, but it seems probable that
during 1909 many banks will be again obliged to reduce their
dividends.
Increases and decreases in dividend rates depend almost entirely
upon the fluctuations of the interest rate on loans, which constitute
nearly two-thirds o f the assets o f the savings banks.
The income from bond investments fluctuates but very slightly,
and the income from loans on real estate is almost as constant. It
is the fluctuations in the rates of interest on loans on personal se­
curity which produce the increases or decreases in the dividends. It
will be noticed from a foregoing table that while the rate on real
estate loans increased .05 of 1 per cent., the rate on personal loans
decreased .58 o f 1 per cent, and the rate on other loans .28 of 1 per
cent., resulting in a decrease of .16 of 1 per cent, in the rate of
interest received on the aggregate amount of loans. This small
shrinkage in the average rate means a decrease in income of over
three-quarters of a million dollars.
Real Estate by Foreclosure, etc.

The steady decrease in the amount o f real estate held by fore­
closure, which was checked during 1907 largely by the foreclosure
of two large pieces amounting to $495,000, is again in progress, for
this item shows a shrinkage, during the year under review, of
$579,000.
The following statement of the year’ s transactions of all the
banks holding real estate either by foreclosure or as mortgagees in
possession shows even more clearly than did the figures for the pre­
ceding year that such property as a whole produces no net revenue.


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Federal Reserve Bank of St. Louis

R E PO R T OF THE

XVI

[Pub. Doc.

Principal
Balance, as shown in statement of October 31, 1907, 626 estates
Acquired during the year ending October 31, 1908, 229 estates
Excess of proceeds over book values of estates sold during year
Miscellaneous
.
.
.
.
.
.
.
.

. $4,202,959 50
. 1,264,095 50
.
41,008 36
.
2,909 46
$5,510,972 82

Received for 277 estates sold during year
Losses on estates sold during year .
Amounts charged off to cover depreciation or
prospective loss
.
Miscellaneous
.
.
.
.
.
.

$1,679,293 38
126,589 15
81,359 55
8,742 23
1,895,984 31
$3,614,988 51

Income
Rents, etc., received during year
.
.
.
Expenses and taxes on estates, paid during year
Net deficit for the year

.

.

.

.

This net deficit was disposed of as follows: —
Income credited to profit and loss $21,221 25
Deficit charged to profit and loss 43,813 39
---------------Income applied to reducing book
v a l u e ......................................... $16,509 09
Deficit applied to increasing book
v a l u e ........................................
25,269 65
----------------

$185,710 04
217,062 74
$31,352 70

$22,592 14

8,760 56

8,760 56

Net deficit, as above
.
.
.
.
$31,352 70
Balance, as shown in statement of October 31, 1908 (578 estates,
assessed at $4,061,334, held by 129 banks) .
.
.
.
$3,623,749 07

Investments producing no Income

The figures presented in the last report, showing the loans on
which no interest due during the year had been paid, and of the
investments on which no income whatever had been received during
the year, are repeated for comparison with the corresponding figures
for October 31, 1908. The notable change is the increased number
and amount of loans on personal security on which no interest due
during the year was received. This is mainly due to the failure of
two important manufacturing corporations, whose notes were held


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Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

X V II

by many savings banks. Since October 31, 1908, both have been
reorganized, and their obligations are no longer in arrears.

O ctober

Number
of Loans

562
157

31, 1908

O ctober

Amount loaned

Amount loaned

$2,346,645 49
2,838,511 69

592
64

$2,343,707 74
336,607 84

Loans

On real estate..........................................................
On personal security
.
.
.
.
.
.

-

Amount invested
$954,287 53
282,085 74
70,653 30
216,615 60

-

$6,708,799 35

Investments

Real estate by foreclosure, in possession, etc.
Stocks, bonds, etc., acquired to secure indebtedness
Bank and trust company stocks
. . . .
Deposits in banks not on interest
. . . .

-

Total loans and investments producing no income

31, 1907

Number
of Loans

-

Amount invested
$738,128 82
152,052 60
49,096 73
242,970 64

-

$3,862,564 37

-

Income Account

The aggregate income account of the savings banks for the last
three fiscal years is as follows : —

Y ear
October 31,
1908
Accrued interest and operating deficit of real
estate charged off .
Expenses charged off *
.
.
.
.
.
State tax charged off *
Carried to guaranty fund .
.
.
.
.
Ordinary dividends credited
.
.
.
.
Total current deductions
Total current income
.

.
.

.
.

.
.

.
.

Current surplus, after dividends
Disposed of as follows: —
Extra dividends
.
.
.
.
.
Premiums written off
.
.
.
.
Banking houses written down
.
.
.
Losses through loans on real estate
“
“
“
“ personal security
Miscellaneous .
.
.
.
.
.
Net surplus to profit and loss * .

.
.
.
.

ending

October 31,
1907

October 31,
1906

$435,509
1,817,509
1,822,317
739,942
26,684,040

$263,810
1,779,311
1,830,838
1,320,356
25,286,144

$284,953
1,624,590
1,788,668
1,520,537
23,665,106

$31,499,317
34,660,666

$30,480,459
33,981,163

$28,883,854
31,251,869

$3,161,349

$3,500,704

$2,368,015

$80,708
917,959
3,899
226,495
345,070
45,822
1,541,396

$107,847
661,179
286,635
86,278
308,445
94,838
1,955,482

$723,679
204,927
210,832
241,607
115,356
871,614

$3,161,349

$3,500,704

$2,368,015

* These items, owing to certain adjustments and to the form in which the reports are rendered,
do not agree exactly with the corresponding items on pages iv and viii.

It is confidently believed that the operation of the new law will
in time materially reduce the losses incurred by the banks through
their loans on real estate and personal security.


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Federal Reserve Bank of St. Louis

XV111

R E PO R T OF THE

[Pub. Doc.

Greenfield Savings Bank

At a conference on January 30, 1909, with the trustees of the
Greenfield Savings Bank, following an examination, I advised that, as
a considerable proportion of its real estate in certain localities is of
uncertain value and unproductive, and as its normal earning capacity
is consequently impaired, the bank should cease to receive or pay
deposits until this real estate can be made productive and its value
established.
The trustees concurred in this view, and the Supreme Judicial
Court on February 1 temporarily enjoined the bank from further
transacting business. On February 9 the court issued a decree
enjoining the bank, until further order o f the court, from receiving
or paying deposits, but authorizing it to invest its funds and protect
its property.
This step was taken in the interest of all the depositors, and its
effect is to suspend dividends during the period of injunction. The
affairs o f the bank will be administered by its trustees under the
supervision o f this department. The trustees are authorized, in
cases of necessity, to make loans to depositors on the security of their
deposit books.
Under this plan, as in the recent case o f the Marblehead Savings
Bank, at a minimum o f expense, the deposits will be kept intact, the
assets conserved and the bank continued as a going institution. When
all unproductive assets have been eliminated and a sound financial
condition exists, application will be made to the court to permit the
bank to open and resume its usual business.
Legislation in 1908

Chapter 590 of the Acts o f 1908, approved June 8, codified, re­
vised and amended the laws relative to savings banks and institutions
for savings. It was based largely upon the recommendations of
the committee appointed by chapter 24 o f the Resolves of 1907,
with such modifications as were shown to be desirable at the public
hearings given by the committee on banks and banking.
A great many changes were made by the new act, of which the
following are the principal ones: —
The Bank Commissioner is given authority to direct the dis­
continuance o f unsafe or unauthorized practices.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

xix

Savings banks shall be incorporated upon certificate of the
Board of Bank Incorporation, instead of by special charter.
There must be at least 66% per cent, more corporators than
trustees.
An auditing committee must make or cause to be made a
thorough audit of the bank at least once in each year.
Under certain conditions, branch offices or depots, for the
receipt of deposits only, may be established.
When pass books are lost, duplicate books may be issued
after due notice has been given by advertising.
The board of investment is required to revalue periodically
all real estate mortgaged to the bank.
The provisions authorizing investment in railroad bonds are
entirely redrafted in general instead of specific form.
Investment in bonds of telephone companies is authorized.
The clause relating to loans on personal security, originally
enacted in 1834, is redrafted to conform to modern practice.
The Bank Commissioner is required to publish, on or before
February 1 of each year, a list o f all railroad, street rail­
way and telephone company bonds, which are then legal
investments for savings banks.
B r a n c h O f f ic e s

of

S a v in g s B a n k s

The provision permitting savings banks to establish branch offices
or depots for the receipt of deposits only has not yet been largely
availed of by the savings banks. The branches authorized have been
as follow s: —
Lowell Institution fo r Savings, Lowell: Graniteville and Forge Village in
the town o f Westford.
Central Savings Bank, Lowell: North Chelmsford and North Billerica.
County Savings Bank, Chelsea: Winthrop and Revere.
Berkshire County Savings Bank, Pittsfield: Stanley Works, Pittsfield.

The Lowell Institution for Savings has, since July 18, been send­
ing one o f its employees on pay day to the mills of the Abbott
Worsted Company in Forge Village and Graniteville, both in the
town of Westford and about ten miles from Lowell. The time occu­
pied in making the round trip by electric car is four hours, and the


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Federal Reserve Bank of St. Louis

[Pub. Doc.

R E PO R T OF THE

XX

cost 35 cents. He leaves Lowell at 2.15 p . m . and returns at 6.15
p .m .
A t Forge Village there are about 250 employees in the mill,
and at Graniteville about 225 employees; both villages are away
from the main center of Westford, and each is composed of little
else than the country store, the mill and the houses of its employees.
The field, therefore, is a small and restricted one, hut the results,
shown in the following table, especially in view of the narrowness
of the field, are interesting: —

D ate

July 18
25
Aug. 1
8
15
22
29
Sept. 5
12
19
26

Oct. 3

New
Accounts
opened
7
4
5
1
1
1
_

5
5
1
-

2

Number of
Deposits
made
8

10
14
5

4

7

11
10
16
11
6
10

Amount

$27
132
708
33
14
39
99
318
271
122
35
200

00
00
80
00
00
00
00
00
00
00
00
00

D ate

Oct. 10
17
24
31
Nov. 7
14
21
28
Dec. 5
12
Totals .

____ ft___

New
Accounts
opened

Number of
Deposits
made

3

20
16
13
12
13
17

$45
418
142
46
246
99
98
78
164
177

53

242

$3,512 80

4
4
-

5
1

1
1

2

4
15
13

Amount

7

00
00
00
00
25
00
00
00
00
75

It will he seen that during the period covered by the table fiftythree new accounts were opened, o f which the treasurer of the hank
believes that not more than three of the depositors have ever had
a savings hank account before. The amount deposited has not been
large, being hut $14.52 per deposit, as compared with $62.14, the
average amount deposited in all the savings banks of the State;
hut of the fifty-three new accounts which have been opened there
are several depositors who deposit a fixed amount every week, vary­
ing from $1 to $4 apiece, which shows that in this case, at least, the
ability o f a savings bank to offer its facilities to mill hands on pay
day results exactly as it was hoped it would result, — in inducing
a number o f people who otherwise would not save at all to put by
small amounts o f money regularly and systematically.
The County Savings Bank of Chelsea has appointed one of its
trustees as an agent to receive deposits for it at Winthrop and an­
other o f its trustees to- act similarly at Revere, and the Central
Savings Bank of Lowell sends a representative once a week to Horth
Chelmsford and Horth Billerica; but these branches have not been
in operation long enough to demonstrate whether they will prove
effective in gathering savings.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. S]

BANK COMMISSIONER

L

oans

to

xxi

C o r p o r a t io n s

The most notable change in the remodelled clause relating to loans
on personal security is that which requires a corporation which
borrows from a savings hank to have its affairs, assets and liabilities
examined by an accountant approved by the Bank Commissioner, and
to file with the savings hank, before it makes or renews a loan, a re­
port o f the examination in such form as the Bank Commissioner
prescribes. The object of this is to obtain for the savings banks
independent statements of the corporations to which they loan. The
results which follow from this requirement will be watched with
interest, as it is one which several bankers’ associations have recom­
mended to their members, and it is important that it should be
carried out in a reasonable and effective manner.
A form for the report has been prepared, and the accountants of
a number of corporations have been approved; but in approving
these accountants the department has been greatly hampered by the
lack o f any standard of accountancy in Massachusetts, such as the
registration or licensing of “ chartered public accountants,” which
is undertaken in a number of other States. I f some satisfactory form
of registration of accountants in Massachusetts could be devised, it
would lead to a much more uniform auditing both of the savings
banks and o f the corporations which borrow from them.
List of Legal Investments

It has been for many years the custom of this department to in­
clude in its annual report a balance sheet of each savings bank
and a list of its bond and stock investments. Until the 1901 re­
port, although the lists of these bonds have never been adequate for
identification, for they have lacked the maturities, names of divisions
of railroads and other important data, they have been the only
indication to the public of the bonds which were legal investments
» for Massachusetts savings banks. Under the new law, however,
the Bank Commissioner is required once a year to publish a com­
plete list of railroad, street railway and telephone company bonds
which comply with the law, in addition to which a list has also been
prepared o f those States, counties, cities, towns and districts in
the public funds of which the savings banks may legally invest.
In view of the publication below of these complete lists, it is


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Federal Reserve Bank of St. Louis

xxii

REPORT OF THE

[Pub. Doc.

felt that the value o f the publication in detail of the securities held
by each bank is „very much lessened. Investment in these classes of
securities has never, as far as can he ascertained, brought loss to the
savings banks except when they have occasionally had to sell them
in a depressed market to meet heavy withdrawals. The publishing
of such lists in the past has not deterred some hanks from investing
in some o f the legal bonds which were not of the highest grade,
nor would any considerable number of prospective depositors be
assisted in their choice of a savings hank by inspecting a list of the
securities which it held. It is not practicable to publish the details
of the loans on real estate and on personal security, which are the
sources through which losses come to the hanks, and it is therefore
somewhat anomalous to publish the details of the bond investments,
which bring no losses to the banks.
For these reasons it has been determined to omit from the present
report the lists of bonds held by the individual hanks, thereby re­
ducing the size of the volume by about 175 pages, and materially
lessening its cost.
The following is a list of bonds and notes which, in the opinion of
this department, are now legal investments under the provisions of
clauses second, third, fourth, fifth and sixth of section 68 of chapter
590, Acts of 1908. Clause second, relating to investments in public
funds, has been applied only to those counties, cities, towns and
districts which appear to have bonds or notes outstanding. Clause
third is the new general law relating to railroad bonds. Clause
fourth provides that issues which complied with the old law shall
continue, under certain conditions, to be legal investments. The
banks may not only continue to hold such bonds, hut may invest
further in them. In this list the bonds which do not comply with
clauses second and third, but continue legal through clause fourth,
are printed in italics and the reason in each case is explained in
the footnotes. Clause fifth relates to investments in street railway
bonds, and clause sixth to investments in telephone company bonds.
Investment in bonds or notes of cities, towns and districts men­
tioned in the list should not he made without further inquiry, as
both their indebtedness and their valuations for the assessment of
taxes are constantly changing.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

xxiii

BANK COMMISSIONER

PUBLIC FUNDS
Public funds of the United States and of the following States : —
Maine
Massachusetts
Michigan
Minnesota

i

Missouri
New Hampshire
New York
Ohio
District of Columbia

Pennsylvania
Rhode Island
Vermont
Wisconsin

Bonds or notes of the following counties, cities, towns and districts in New England : —
C onnecticut
V ermont
Water Districts
M ain e
A. ug us la
Counties
Cities
Brunswick and Topsham
Counties
I airfield
Barre
Dover and Foxcroft*
Aroostook
Hartford
Burlington
Gardiner
Cumberland
Montpelier
Kennebec
Kennebec
Cities
Rutland
Kittery*
Washington
Ansonia
St. Albans
Portland
Bridgeport
Vergennes
Van Buren*
Derby
Cities
Hartford
Towns
N e w H ampshire
Meriden
Bennington
Middletown
Brattleborough
Counties
New Haven
West Rutland
Belknap
New London
Coos
Norwalk
Hillsborough
Biddeford
Putnam
M assachusetts
Merrimack
Rockville
Rockingham
Bonds or notes of any South Norwalk
StraSord
Eastport
county, city, town or Stamford
incorporated district! Waterbury
Cities
of the Commonwealth Willimantic
Berlin
of Massachusetts.
Concord
Lewiston
Towns
Dover
Old Town
Brooklyn
Franklin
Ellington
R hode I sland
Keene
Enfield
Manchester
South Portland
Fairfield
Cities
Nashua
Hamden
Newport
PortsmouthX
Madison
Providence
Somersworth
Manchester
W oonsockett
Towns
Newtown
Towns '
Boothbay Harbor
Norwich
Towns
Ashland
Brunswick
Norfolk
Barrington
Exeter
Plainfield
Burrillville
Gorham
Coventry
Plainville
Haverhill
Plymouth
Cumberland
Jaffrey
Fairfield
Putnam
East Greenwich
Lancaster
Ridgefield
East Providence%
Lebanon
Kennebunk
Saybrook
Jamestown
Lisbon
Kennebunkport
Seymour
Johnston§
Milford
Southington
Lincoln!
Newmarket
Mount Desert
North Kingstown
Stamford
N orthumberland
Old Orchard
Stonington
North Smithfield
Peterborough
Pittsfield
Scituate
Suffield
Salem
South Kingstown
Torrington
Sunapee
Tiverton
W allingford
Walpole
Yarmouth
W arren
W atertown
Woodstock
York
Westerly
Winchester
W indsor Locks
Water District
North Conway
Leo-ally authorized bonds for municipal purposes, etc., of the following cities outside of New
England : —
St. Louis, Mo.
McKeesport, Penn.
Dubuque, la.
Scranton, Penn.
Milwaukee, Wis.
Erie, Penn.
Minneapolis, Minn.
South Bend, Ind.
Evansville, Ind.
Allentown, Penn.
Oshkosh, Wis.
Springfield, Mo.
Fort Wayne, Ind.
Altoona, Penn.
Peoria, 111.
Syracuse, N. Y .
Grand Rapids, Mich.
Philadelphia, Penn.
Terre Haute, Ind.
Harrisburg, Penn.
Baltimore, Md.
Pittsburgh, Penn.
Indianapolis, Ind.
Trov, N. Y .
Binghamton, N. Y .
Racine, Wis.
Utica, N. Y.
Johnstown, Penn.
Reading, Penn.
Washington, D. C.
Joplin, Mo.
Chester, Penn.
Rochester, N. Y .
Wilkes-Barre, Penn.
Kansas City, Mo.
York, Penn.
Rockford, 111.
Lancaster, Penn.
Davenport, la.
Youngstown, O.
St. Joseph, Mo.
Louisville, Ky.
Des Moines, la.
Detroit, Mich.
* Less than 5,000 inhabitants within the district, therefore only bonds issued prior to June 8,
1908, are legal.
t This department has been unable to learn of any incorporated district in Massachusetts the
net indebtedness of which is in excess of the limit prescribed bv law.
+ Net indebtedness, as defined,by new law7, in excess of legal limit, therefore only bonds issued
prior to .June 8, 1908, are legal.
§ Only those which have been assumed by the city of Providence.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

x x iv

R E PO R T OF THE

[Pub. Doc.

RAILROAD BONDS
BANGOR & AROOSTOOK SY STE M f, 1[
Bangor & Aroostook R .R .t, II
.
.
.
.
“
Piscataquis Divisiont, ^1
“ • Van Buren Extensiont, If
“
Medford
“
t> II
Aroostook Northern R .R .t, If .
.
.
.
Northern Maine Seaport R .R .f, If
.
.

.
.
.
•
.
.

First .
.
“
.
.
“
.
“
.
.
“
.
. R .R . and terminal first

5s
5s
5s
5s
5s
5s

1943
1943
1943
1937
1947
1935

3 is
4s
3 is
3 is
3is
4s
44s
4s
4s
4is
3s
4 is
4s
4s
4s
4s
4s
4s
4s
4s
3 is
3 is
3is
3 is
4s
4s
4s
4s
6s
3is
4s
3is
4s
4s
4s
4s
4 is
4is
3*s
4is
4s
4s
3is
4s
3 is
4s
4s
4s
4 is
4s
7s
5s
3is
5s
4s
5s

1909
1910
1921
1923
1925
1926
1929
1937
1942
1944
1950
1937
1910
1909
1932
1913
1915
1916
1917
1918
1919
1921
1923
1925
1926
1927
1943
1920
1911
1923
1943
1921
1913
1930
1934
1935
1914
1917
1909
1914
1915
1916
1920
1920
1921
1925
1927
1928
1928
1937
1924
1911
1923
1944
1924
1910

BOSTON & M AINE SYSTEM
Boston & Maine R .R .

Notes
Plain

Portsmouth, Great Falls & Conway R.R.
Boston & Lowell R .R

First
Notes
Plain

Connecticut & Passumpsic Rivers R .R .
Concord & Montreal R .R .
Boston, Concord & Montreal R .R .
'Connecticut River R .R .

First
Consolidated
Mortgage
Plain

Worcester, Nashua & Rochester R .R .

First

Concord & Claremont R .R .
Peterborough & Hillsborough R .R .
Pitchburg R.R.

Notes
Plain

First
Plain

Troy & Boston R.R.
Brookline & Pepperell R.R.
Vermont & Massachusetts R .R .
St. Johnsbury & Lake Champlain R
Sullivan County R.R.
Vermont Valley R.R.

First

M AINE CENTRAL SYSTEM
Maine Central R .R .

.

.

.

.

“
“
“
.
.
Penobscot Shore Line R .R .
Maine Shore Line R .R . .
.

.

.

.

.

.

.

.

Consolidated

.

Collateral trust
First .
“

4£s
5s
l 7s
. 5s
4s
6s
*

.

t Dividends paid for insufficient number of years.
Amount paid in dividends less than one-third of amount paid in interest.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1912
1923
1920
1923

No. 8]

BANK COMMISSIONER

XXV

M AINE CENTRAL SYSTEM — Concluded
Belfast & Moosehead Lake R.R.
Dexter & Newport R.R.
Dexter & Piscataquis R.R.
European & North American Ry.
Upper Coos R .R . .
Washington County Ry.
Portland & Rumford Falls Ry.
Portland & Ogdensburg R.R.

First .
“
Mortgage
Extension mortgage
First
Consolidated
First .

.
.
.

4s
4s
4s
4s
4s
4£s
3£s
4s
4Ís

1920
1917
1929
1933
1930
1930
1954
1926
1928

4s
4s
3ès
3is
4s

1914
1947
1947
1954
1955
1956

N E W Y O R K , N E W H AV EN & HARTFORD SYSTEM
New York, New Haven & Hartford R.R.

New York, New Haven & Hartford R .R ., Harlem River
Port Chester
.
.
.
.
Housatonic R .R . .
.
.
.
New York, Providence & Boston R .R .
Shore Line R .R . .
.
.
Boston & New York Air Line R.R.
Danbury & Norwalk R.R.

Naugatuck R .R .

.

New Haven & Derby R.R.
Providence & Springfield R .R .
Providence Terminal Co.
Woonsocket & Pascoag R .R . .
Boston & Providence R.R.
Holyoke & Westfield R.R.
New England R.R.
New York & New England R.R., Boston TerminalW
Norwich & Worcester R.R.

Debenture

Convertible debenture

3¿s

First .

4s
4s
5s
4s

Consolidated
General
First .
Consolidated
General
Refunding .
First .
Debenture .
Consolidated
First .
Plain .
First .
Consolidated
First .
Debenture .
Plain .

Old Colony R .R . .
Boston, Clinton, Fitchburg & New Bedford R .R .
Providence & Worcester R.R.

First .

4£s
4s
5s
6s
5s
4s
4s
3 is
5s
5s
4s
5s
4s
4s
4s
5s
4s
4s
4s
4s
4s
3 is
5s
4s

1954
1910
1937
1942
1910
1955
} 1920
1925
1955
1954
1930
1918
1922
1956
1910
1918
1911
] 1945
1939
1927
1924
1925
1938
1932
1910
1947

CHICAGO & N OR TH W ESTER N SYSTEM
Chicago & Northwestern Ry.
Madison Extension
Menominee
“
sinking fund

Ottumwa, Cedar Falls & St. Paul Ry.
Cedar Rapids & Missouri River R .R .
Northern Illinois Ry.
.
.
.
.
.
.
.
Northwestern Union Ry.
.
.
.
.
.
.
Milwaukee, Lake Shore & Western Ry.
.
.
.
.
Marshfield Extension
“
“ Michigan Division .
“ Ashland
“
“
“ Ext. and imp.
Wisconsin Northern Ry.
.
.
.
.
.
.
Winona & St. Peter R .R .
.
.
.
.
.
.
Boyer Valley R y.*
.
.
.
.
Minnesota & Iowa Ry. .
.
.
.
.
.
.
Southern Iowa Ry.*
.
.
.
.
.
.
.
Princeton & Northwestern Ry.
.
.
.
.
.
Peoria & Northwestern R y.* .
.
.
.
.
.
Mankato & New Ulm Ry *
.
.
.
.
.
.
Freemont, Elkhorn & Missouri Valley R .R .
.
Minnesota & South Dakota Ry.*
.
.
.
.
.
Iowa, Minnesota & Northwestern Ry.
.
.
.
.
Sioux City & Pacific R .R .
..


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

General
First .
Consolidated
Extension .
Sinking fund mortgage
First .
Mortgage
First .
Consolidated
First .
Mortgage
First .

Consolidated
First .

|| || Legalized by special act of General Court.
* Secured on less than 100 miles of railroad.

3is
7s
7s
7s
4s

1987
1911
1911
1915
1926

Is
5s
7s
7s
5s
7s
6s
5s
6s
6s
5s
4s
7s
3£s
3is
3is
3is
3is
3¿s
6s
3|s
3is
3 is

} 1929
1909
1909
1916
1910
1917
1921
1922
1924
1925
1929
1931
1916
1923
1924
1925
1926
1926
1929
1933
1935
1935
1936

xxvi

RE PO R T OF THE

[Pub. Doc.

CHICAGO, BURLINGTON & QUINCY SYSTEM
Chicago, Burlington & Quincy R .R .
“
“
“
Illinois Division

4s
3 is
4s
4s
5s
4s
4s
6s
6s
6s
7s
7s
7s

General
Mortgage

“
“ Iowa
“
“ Denver Extension
“
“ Nebraska
“
Burlington & Missouri River R .R . in Nebraska
Republican Valley R .R .
.
.
.
.
.
Hannibal & St. Joseph R .R . .
.
.
.
.
Tarkio Valley R .R .
.
.
.
.
.
.
Nodaway Valley R .R . .
.
.
.
.
.
Lincoln & Northwestern R .R .
.
.
.
.

Mortgage
Consolidated
Mortgage
First .

CHICAGO, M IL W A U K E E & ST. PAUL SYSTEM
General,
.
.
.
.
.
Southwestern Division
First .
Hastings & Dakota Extension
Chicago & Pacific Division
Southern Minnesota
Mineral Point
La Crosse & Davenport
Dubuque
Wisconsin Valley
Chicago & Pacific Western"
Wisconsin & Minnesota
Chicago & Lake Superior
Chicago & Missouri River
Terminal
Dakota & Great Southern Ry.
Fargo & Southern Ry. .
.
.
.
.
Milwaukee & Northern R .R . .
.
.
.
Chi., Mil. & St. Paul R y.,

{

1958
! 1948
1 1919
J 1922
1927
1918
1919
1911
1920
1920
1910

}1989
6s

1909

{fs
6s
6s
5s
5s
6s
6s
5s
5s
5s
5s
5s
5s
6s
6s

} 1910
1910
1910
1910
1919
1920
1920
1921
1921
1921
1926
1914
1916
1924
1910

6s
4s

1917
1988

6s
6s
6s
6s

j 1930

CHICAGO, ROCK ISLAND & PACIFIC SYSTEM
Chicago, Rock Island & Pacific R .R .

“

Mortgage
General

Ry.

& OMAHA SYSTEM
Chicago, St. Paul, Minneapolis & Omaha Ry.
Chicago, St. Paul & Minneapolis Ry.
North Wisconsin Ry.
.
.
.
.
St. Paul & Sioux City R.R.

Consolidated
First .
.

.

.

1918
1930
1919

D E L A W A R E & HUDSON SYSTEM
Delaware & Hudson Co.
“
Canal Co.
Adirondack Ry.
Schenectady & Duanesburg R.R.
Albany & Susquehanna R.R.

First refunding
First .
.
.
“
“
Convertible

,
.

4s
7s
4 Js
6s
3 is

1943
1917
1942
1924
1946

6s
5s

1921
1911

4s
4s
3 is
3s
4s
3 is
3is
3 is
5s
4s

1955
1951
1950
1951
1951
1951
1951
1951
1921
1950

ESTERN SYSTEM
New York, Lackawanna & Western Ry.§ .
Valley R . R . * , I ............................................

First .

.

.

.

ILLINOIS CENTRAL SYSTEM
Illinois Central R.R.
“
Sterling Extended .
“
Gold Extended
“
Sterling
“
Gold
.
“
“
“
Gold Extended
“
Springfield Division
“
Kankakee & South Western R.R.
Cairo Bridge .
§ Not guaranteed by endorsement.


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Federal Reserve Bank of St. Louis

.

.

Refunding mortgage
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
First .
“

* Secured on less than 100 miles of railroad.

BANK COMMISSIONER

No. 8]

X X V ll

ILLINOIS CENTRAL SYSTEM — Concluded,
Illinois Central R.R.

3*s
4s"

1950
1951

{Ils
3is
3s
3s
Sis
4s

} 1951
1953
1951
1951
1952
1952

First

Collateral Trust
Western Lines%
St. Louis Divisionft,**
Louisville Divisioni
Omaha Divisioni
Litchfield Division*
Purchased Lines§§,**,î
Collateral Trust11

LAK E SHORE & MICHIGAN SOUTHERN SYSTEM
Lake Shore & Michigan Southern Ry.
Kalamazoo, Allegan & Grand Rapids R.R.*
Mahoning Coal R.R.* .
.
.
Pittsburgh, McKeesport & Youghiogheny R.R.*

.

First general
First .
.
“
.
.
“
.
.

.
.
.
.

.
.5
.
.

3|s
s
5s
6s

1997
1938
1934
1932

3is
4s
6s
5s
5s
3ès
4s

1952
1940
1909
1931
1939
1951
1957

3Js
4s
4s
3is

1997
1936
1991
2000

•{ils
.
5s
.
6s
.
5s
.
6s
.
6s
.
5s
.
4s
.
3|s
.
4s
.
3is
. 4s

} 1922
1918
1910
1916
1915
1915
1931
1922
1952
1913
1951
1933

6s
5s
4s
3£s
4s
4^s
4s
5s
5s
4s
4s
7s
6s
Sis
6s
5s
4s
4s

1910
1919
1943
1945
1948
1912
1936
1928
1919
1928
1943
1917
1910
1930

MICHIGAN CENTRAL SYSTEM
Michigan Central R.R.
.
.
.
.
Michigan Central-Michigan Air Line R.R.
Michigan Central-Grand River Valley R.R.*
.
.
Michigan Central-Detroit & Bay City R.R.
Michigan Central-Kalamazoo & South Haven R.R.* .
Michigan Central-Jackson, Lansing & Saginaw R.R.
Michigan C entrai-Joliet & Northern Indiana R.R.*

.

First

.

“

N E W Y O R K CENTRAL SYSTEM
New York Central & Hudson River R.R.
Beech Creek R .R .
.
Mohawk & Malone Ry. .
.
.
.
New York & Harlem R.R.§
Rome, Watertown & Ogdensburg R.R.§
“
“
“
Terminal R.R.
Watertown & Rome R.R.§
Norwood & Montreal R.R.§
Oswego R.R. Bridge§
Syracuse, Phoenix & Oswego R.R.„
Carthage, Watertown & Sachet’s Harbor R.R.§
Utica & Black River R.R.§
Boston & Albany R .R . .

Mortgage
First .
Mortgage
Consolidated
First .

Consolidated
First .
Plain .

.
.
.
.

P EN N SY LVA NIA SYSTEM
General
Consolidated

Pennsylvania R.R.

River Front R .R *
.
.
.
.
Sunbury & Lewistown Ry.*
.
.
.
Sunbury, Hazleton & Wilkesbarre Ry.*
West Chester R.R.*
.
.
.
.
Western Pennsylvania R .R . .
.
.
Pittsburgh, Virginia & Charleston Ry.*
South West Pennsylvania R.R.
Bald Eagle Valley R.R.*
.
.
.
Junction R.R.*
.
.
.
.
.

.
.

Philadelphia & Erie R .R .

.

.

.

.

.
.
.
.

Harrisburg, Portsmouth, Mt. Joy & Lancaster R.R.*

First .

Consolidated
First .
General

First .

1
\1920
J
1913

I Bonds do not cover 75 per cent, of the railroad owned in fee at the date of the mortgage by
the railroad corporation on the railroad of which the mortgage is a lien,
Mileage is not sufficient to qualify mortgage as a divisional refunding mortgage.
Bonds are not a first lien on 75 per cent, of the property covered by mortgage.
Secured on less than 100 miles of railroad.
Mileage sufficient to qualify mortgage as a divisional refunding mortgage, except that mileage
is not continuous.
II Railroad covered by one of the issues pledged as collateral is not operated by Illinois Central
R.R.
§ Not guaranteed by endorsement.

ft
**
*
§§


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Federal Reserve Bank of St. Louis

xxviii

REPO RT OF TH E

[Pub. Doc.

PEN N SYLVA NIA SYSTEM — Concluded
General
“
“
“
“
First .
General
“
“
“
First .

United New Jersey R .R . & Canal Co.
“
“
“
“
“
“
“
“
“
“
“
“
“
“
“
“
“
“
Delaware River R.R. & Bridge Co.*
Erie & Pittsburgh R.R.*
Cleveland & Pittsburgh R.R.
“
“
“
“
“
“
Pittsburgh, Fort Wayne & Chicago Ry .§

.

.

.

.

.

.

4s
4s
4s
4s
3 is
. 4s
3 is
! 4 is
1 3 is
' 34s
3is
. 7s

1923
1929
1944
1948
1951
1936
1940
1942

3 is
4 is
4s
f 4s
l 5s
f 4s
1 5s
4s

1947
1927
1928

4s
4 is
5s
5s
5s
5s
4s
5s
4is
5s
5s
5s
4s
4s
5s
4is
4s
4s
4s
44s
4s

1935
1937
1928
1920
1915
1918
1922
1917
1921
1915
1920
1923
1923
1923
1914
1914
1915
1916
1917
1923
1932

4s

1929

1948
1950
1912

MISCELLANEOUS
Boston Terminal <7o.[| ||
Boston, Revere Beach & Lynn R.R. t
Bridgton & Saco River R .R . .
Kennebec Central R.R.

First .
“
Consolidated

New London Northern R .R . .
Narragansett Pier R.R. t

Consolidated
First .
.

First .

.

.

.

.

.

Plain .
.
.
“
First mortgage

.

1910
1910
1916

STREET R A IL W A Y BONDS
Boston Elevated Ry.

.

.

.

.

Boston & Revere Electric Street Ry.
Citizens Electric Street Ry.
Dartmouth & Westport Street Ry.
East Middlesex Street Ry.
Fitchburg & Leominster Street Ry.
Holyoke Street Ry.

.

.

.

“
“
“
Pittsfield Electric Street Ry. .
Springfield Street Ry. .
.
.
Union Street Ry. .
.
.
.
West End Street Ry.
.
.
.
“
“
“
“
“
ti
“
“
“
“
“
“
“
“
“
“

.

.
.
.

“
“
Plain .
.
.
.
“
First mortgage
Consolidated mortgage .
Debenture .
“
“
Mortgage
First mortgage
Consolidated mortgage .
Debenture .

TELEPHONE COMPANY BONDS
American Telephone & Telegraph Co.
* Secured on less than 100 miles of railroad.
§ Not guaranteed by endorsement.

Collateral trust

.

|| || Legalized by special act of General Court.
f Dividends paid for insufficient number of years.

Bonds which are not now Legal Investments

In applying the investment laws, both old and new, to the various
counties, cities, towns, districts, railroads, street railways and tele­
phone companies, several issues held by the hanks have been found
not to comply with either of the laws. The volume of bonds so
held has been very largely increased by a recent opinion of the
Attorney-General that, as the New York, New Haven & Hartford
Railroad Company is a Massachusetts railroad corporation, under
either the old or the new law only those of its issues of bonds, coupon


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

X X IX

notes and other evidences of indebtedness which, taken in the order
of their issue, do not exceed the amount of the capital stock of the
company actually paid in, are legal investments for Massachusetts
savings banks.
On October 31, 1908, the banks held bonds which in the opinion
of this department are not now legal investments, as follow s: —

Bonds and notes of the New York, New Haven &
Hartford R.R. Co. .
.
.
.
.
.
Other bonds and notes..........................................

Market Value

Par Value

Book Value

$6,586,125 00
7,461,100 00

$6,455,035 77
7,468,496 05

$6,552,082 75
7,430,657 34

$14,047,225 00

$13,923,531 82

$13,982,740 09

Many bonds, especially among the public funds, have been treated
as legal, both by the banks and by this department, after they have,
as a matter o f fact, ceased to comply with the law. Unless the law
is applied periodically to every corporation, both public and private,
which it appears to describe, it is inevitable that this should be so.
Such an application entails a great deal of labor, hut the results it
produces are of value.
N o definite policy appears to have been adopted by this depart­
ment in the past with regard to the disposal by the banks of bonds
which have ceased to he legal investments. A reasonable policy
seems to be indicated in clauses tenth and eleventh of section 68 of
the new law.
These clauses provide that real estate acquired by
foreclosure, and stocks, bonds and notes acquired in settlement of
indebtedness, shall be sold within five years from the date of their
acquisition, and it will he the policy of this department to re­
quire banks to dispose of such bonds within five years from the
time they cease to he legal investments. This will afford an ample
period of probation to determine whether the financial condition of
the issuing corporation is likely to improve sufficiently to render
the bonds legal again.
Recommendations for Legislation

In the practical operation of chapter 508 of the Acts of 1908
several small changes suggest themselves, and they are submitted
for your consideration. They are as follow s: —


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Federal Reserve Bank of St. Louis

XXX

R E PO R T OF TH E

[Pub. Doc.

Section 16 might well be broadened to prevent the use of the words
“ bank/’ “ banking ” and “ trust ” in connection with the word
“ company ” by organizations not incorporated under the banking
or trust company laws of this Commonwealth.
Section 25: the amount of fee for the issuance of the certificate
of incorporation should be fixed.
Section 40 might properly be amended to include stolen books, to
leave the method of issuing a duplicate pass book optional with the
bank, and to provide for the lost pass books of co-operative banks
and savings departments of trust companies.
Section 63 might be amended to state more exactly at what period
an extra dividend must be paid.
Section 68, clause second, subdivision d : further restrictions should
be made concerning the bonds or notes of water districts in which
savings banks may invest.
Section 68, clause third, subdivision d: the provisions are not en­
tirely clear, and the subdivision should be redrafted.
Section 68, clause third, subdivision g, paragraph (3 ) : in one
of the several reprints of the bill, which finally became chapter 590
of the Acts o f 1908, an important provision was omitted from the
end of this paragraph, further defining a refunding mortgage. It is
desirable that the present provisions of the paragraph should be ac­
cordingly modified.
Section 68, clause third, subdivision j : there should be added after
the word “ which,” in the first line, the words “ during each of its
ten fiscal years next preceding the date o f such investment.”
Section 68, clause eighth: there should be added after the word
“ but,” in the third line, the words “ excepting loans made under the
provisions of paragraph (2 ) o f subdivision e.”
Section 68, clause eighth, subdivision b : there should be added
after the word “ delivered,” in the twentieth line, the words “ by
the borrowing corporation or association; ” and after the word “ de­
livered,” in the twenty-second line, the words “ by the accountant.”
Section 68, clause eighth, subdivision c : the requirements for cor­
porations which borrow under this subdivision should be more
stringent.
Section 68, clause eighth, subdivision d : the investment in guaran­
teed equipment trust certificates might well be authorized.


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

XXXI

Section 68 , clause eighth, subdivision e, paragraph ( 1 ) : the pro­
vision should be more clearly stated.
Savings Bank Life Insurance

During the year ending October 31, 1908, the following savings
banks were authorized to establish insurance departments: —
Whitman Savings Bank o f Whitman, authorized June 25, 1908.
People’s Savings Bank o f Brockton, authorized September 1, 1908.

At present four different forms of policies are issued: —
1 . Ordinary life policy, providing for the payment of a premium
each month until death, or until the insured is seventy-five years of
age. The amount of insurance is payable at the insured’s death,
whenever that may occur.
2 . Endowment policy, providing for the payment of a premium
each month until death, or until the insured is sixty-five years of age.
The amount of insurance is payable at death, or on the insured’s
attaining sixty-five years.
3. Insurance and annuity policy, providing for the payment of
a premium each month until death, or until the insured is sixty-five
years of age. The amount of insurance is payable in case of death
prior to the age of sixty-five. A t age sixty-five the bank pays the
insured a certain sum o f money, and continues to pay the same
sum o f money on every subsequent birthday. In case the insured
dies between the ages of sixty-five and sixty-nine, the beneficiary re­
ceives the difference between the amount of insurance and the
aggregate amount of annuity paid the insured.
4. Deferred annuity policy, providing for the payment of a pre­
mium each month until the annuitant is sixty or sixty-five years of
age. When the insured attains the age o f sixty or sixty-five, the
bank promises to pay a certain sum each year until the death of the
annuitant. In case the annuitant dies prior to the commencement
of the annuity, the premiums are either returned or not returned to
the annuitant’ s beneficiary, according to the desire of the annuitant.
Owing to delay in completion o f the new building of the People’ s
Savings Bank, no policies were issued by it until November 1 . The


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Federal Reserve Bank of St. Louis

R E PO R T OF THE

XXX11

[Pub. Doc.

Whitman Savings Bank, however, opened its insurance department
on June 22 , and the number o f policies written each month since
then has been as follow s: —
June .
.
July .
.
August
September .

.
.

3
2
37
78

.
.
.
.

.
.
.

October
November .
December .

166
184
125

The following table shows the origin of the applications, the
sex of the insured, and the amount of insurance written: —

Number

op

Policies

issued

APPLICATION RECEIVED THROUGH —
Men

Women

Amount of
Policies

Total

Whitman Savings B a n k ...........................................................

18

7

25

811,063

Regal Shoe C o m p a n y ...........................................................

233

63

296

128,209

Commonwealth Shoe and Leather Company.................................

148

40

188

48,958

Bridgewater Savings Bank...........................................................

29

8

37

17,275

Boston Book-binding Company..................................................

5

-

5

2,493

Women’s Educational and Industrial Union

-

2

2

1 ,0 0 0

H. Siegel Company...................................................................

1

-

1

Wm. Filene’s Sons Com pany..................................................

2

1

3

1,500

American Hide and Leather C o m p a n y ..................................

15

-

15

4,498

Ludlow Savings B a n k ...........................................................

18

5

23

7,056

469

126

595

$222,052

Totals

.

.

.

.

.

.

.

.

.

.

.

.

.

.

* —

* Annuity.

F ifty policies were issued to persons who were already depositors
in the bank; 18 depositors have filed orders authorizing premiums
to be paid from their bank accounts, of whom 14 are new de­
positors.
O f the 595 policies issued to December 31, 1908, —


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Federal Reserve Bank of St. Louis

125 were ordinary life.
440 “ endowment.
28 “ insurance and annuity.
2 “ deferred annuity.

No. 8]

BANK COMMISSIONER

X X X lll

The following agencies had been appointed by the Whitman
Savings Bank np to January 1, 1909: —
Bridgewater
Bridgewater Savings Bank
Ludlow
Ludlow Savings Bank
W are
Ware Savings Bank .
.
.
.
Lowell
American Hide and Leather Company
Boston
American Steam Gauge and Valve Manufactun ng Company
Boston
Andrew J. Lloyd Company
Cambridge
Boston Book-binding Company
Boston
Carter, Rice & Co., Corp..............................
Boston
The China Hall Company .
.
.
.
Whitman
Commonwealth Shoe and Leather Company
Boston
Conrad & Co....................................................
South Framingham
Dennison Manufacturing Company .
Boston
Eastern Leather Company .
.
.
.
Boston
Wm. Filene’s Sons Company
Quincy
Fore River Shipbuilding Company .
Haverhill
Chas. K. Fox & Co.........................................
Boston
Laboratory Kitchen .
.
.
.
.
Boston
Marshall Electric Manufacturing Company
Bridgewater
W . H. McElwain Company
Springfield
Phelps Publishing Company
Boston
Rand Avery Supply Company .
Whitman
Regal Shoe Company
.
.
.
.
Boston
Henry Siegel Company
.
.
.
.
Boston
F. Vorenberg Company
.
.
.
.
Norwood
Winslow Brothers & Smith Company
112 Salem Street, Boston
Civic Service House
95 Tyler Street, Boston
Denison House .
70 Emerald Street, Boston
Lincoln House .
.1173-1175 Tremont Street, Roxbury
People’s Institute
20 Union Park and 171 West Brookline streets, Boston
South End House
Wells Memorial Institute .
.
.
.
.985 Washington Street, Boston
Women’s Educational and Industrial Union
.
264 Boylston Street, Boston
Boston Central Labor Union
.
.
.
.
.
.
.
.
Boston

The number of those who have come to the bank and applied in
person for insurance policies has been very small, and has thus far
confirmed the op ini on-often expressed at the public hearings on the
bill, that industrial insurance would not be taken “ over the counter; ”
but the plan has neither been in operation long enough nor have its


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Federal Reserve Bank of St. Louis

xxxiv

REPORT OF THE

[Pub. Doc.

advantages become sufficiently widely known to warrant general con­
clusions on this or on any other feature of it.
The writing of policies, however, as indicated in the foregoing
table, has been proceeding through a medium on which little stress
was laid at the time the bill was under consideration, namely, through
agencies appointed by the bank to receive and forward applications
and premiums. These agencies are invaluable adjuncts to the in­
surance departments of savings banks, for the following reasons: —
First. — They constitute a body of unpaid, or substantially un­
paid, workers in various parts of the State, who are educating people
to the advantages of the insurance offered by the savings banks.
Second. — As they are situated in various parts of the State, they
scatter the risks, and remove all danger of unexpected mortality from
an epidemic or other great calamity.
Third. — For the insured, they facilitate the making of applica­
tions and the payment of premiums.
Fourth. -—-For the banks, they tend to reduce the cost of collecting
premiums.
For these reasons, it is desirable that the system should develop
through large numbers of agencies appointed by a few banks and
scattered over the State, rather than through the establishment of
a large number of insurance departments, each doing business only
in its immediate neighborhood.
Without discussing, in a comparative way, the conditions under
which the business is done by the savings banks and by the large
industrial insurance companies, it may be stated on the authority of
the State Actuary that the average premium for policies of less than
$500 appears to be about 25 per cent, less in the savings banks than
in the industrial insurance companies.

TRUST COMPANIES
Number of Trust Companies

The number o f trust companies actively engaged in business on
October 31, 1908, remains at 47. This does not include 5 companies
in process of liquidation, the assets and liabilities of which, however,
appear ip the aggregate statements of the condition of trust companies
in the following pages.


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Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

XXXV

The establishment of 1 trust company was authorized during 1908,
as follows : —

Location
Medford Trust Company .

.

.

.

Medford,

.

Capital

Began Business

$1 0 0 , 0 0 0

Nov. 2, 1908

N o trust companies were placed in liquidation, either voluntary or
involuntary, during 1908.
The following trust companies increased their capital during the
year ending Oct. 31, 1908 : —

Name

of

Amount of Increase

Company

Gloucester Safe Deposit and Trust Company
Lowell Trust Company

.

.

.

.

.

.

Total Capital

$1 0 0 , 0 0 0

$2 0 0 , 0 0 0

52,200

177,200

Condition of Trust Companies

The assets and liabilities of the hanking departments of the trust
companies on the six dates on which reports were furnished to this
department during 1908 will he found on the following pages.
It will he seen that during the year the trust companies have re­
gained the relatively small amount of deposits which they lost during
the autumn of 1907, and that their deposits on October 31, 1908,
were the largest in their history.


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Federal Reserve Bank of St. Louis

REPORT OF THE

XXXVI

[Pub. Doc,

All Trust Companies

Banking Departments

Feb. 14, 1908 May 14, 1908 July 15, 1908 Sept. 23,1908 Oct. 31, 1908 Nov. 27,1908
52
53
52
52
52
52
Trust Com­ Trust Com­ Trust Com­ Trust Com­ Trust Com­ Trust Com­
panies
panies
panies
panies
panies
panies

Assets
Securities

United States bonds
Massachusetts bonds
Other stocks and bonds .

$4,282
5,579,025
31,784,000

$4,282
5,571,868
34,643,701

$4,282
5,571,062
34,182,435

$4,282
5,676,739
35,158,310

$4,282
5,676,439
34,155,729

$4,282
5,680,732
34,064,374

5,633,789
28,175,203
4,055,882
36,704,725
56,143,830
101,245
3,133,366

5,772,272
29,901,536
4,028,271
36,533,353
66,093,522
82,178
1,003,495

5,634,935
31,051,743
4,295,653
39,872,917
69,255,581
68,912
532,561

5,901,465
29,359,864
5,496,567
43,426,978
75,653,083
72,004
511,731

5,968,266
30,617,598
5,858,675
43,647,418
73,023,727
28,039
516,781

6,024,883
31,151,535
6,109,267
45.044,714
69,896,814
83,378
520,325

6 ,2 10 ,86 8

185,202
314,081
153,421

6,413,898
190,614
282,827
105,109

6,407,141
218,249
293,004
108,132

6,397,329
215,578
314,285
102,354

6,436,471
224,882
317,150

6,470,697
219,108
346,196
100,273

8,682
151,698

7,182
329,154

7,182
235,258

7,182
209,055

6 ,000

6 ,0 0 0

235,224

274,693

21,389,688
3,427,490
8,609,215
518,590
93,509

25,409,964
5,395,416
9,345,162
599,540
127,892

31,311,056
6,937,965
10,792,475
498,753
96,182

36,808,861
7,313,884
10,859,653
932,307
174,003

30,910,573
6,840,843
10,987,823
672,368
139,091

Loans, etc.

Loans on real estate
Demand loans with collateral .
Other demand loans
Time loans with collateral
Other time loans
Overdrafts . . . .
Syndicate participations .
Real Estate, etc.

Banking house
Real estate by foreclosure
Safe decosit vaults .
Furniture and fixtures

102,686

Miscellaneous

Premium account .
Other assets .
. .

.

Cash

Due from reserve banks .
“ “ other banks
Currency and specie
Checks on other banks .
Other cash items

34,132,776
6,418,848
9,873,831 '
840,364
128,493

$212,377,791 $231,841,236 $249,133,359 $258,143,237 $262,908,075 $255,547,969
Liabilities

Capital stock . . . .
$17,527,000 $17,632,000 $17,715,600 $17,727,700 $17,729,200 $17,850,400
23,149,000
23,167,200
23,105,900
23,118,000
Surplus fund . . . .
22,937,000
23,046,000
Earnings undivided less expenses,
6,760,300
6,064,445
6,488,719
5,894,524
6,218,988
interest and taxes paid
6,333,616
Deposits (payable on demand or
within ten days): —
Subject to check .
143,790,795 155,058,004 167,884,052 176,969,560 179,463,476 173,766,210
For payment of coupons, etc.
5,065,120
1,357,525
1,071,697
1,256,889
1,437,397
1,549,107
3,290,695
3,469,931
3,230,784
3,506,002
3,477,664
Certificates of deposit .
3,081,779
966,432
664,945
1,529,171
1,692,506
Certified checks .
883,791
1,076,325
616,808
1,240,420
659,157
Treasurer’s checks
858,107
1,116,068
808,916
Interest deposits subject to
withdrawal onlv on presen3,592,336
3,563,429
tation of pass book .
3,396,898
3,579,236
3,160,616
2,829,847
Deposits (time): —
519,414
583,737
Certificates of deposit .
785,790
629,237
750,134
496,247
4,533,153
5,561,543
Open accounts, etc.
6,372,808
5,437,361
2,352,306
3,396,849
Interest deposits subject to
withdrawal onlv on presen3,839,100
3,886,820
3,990,978
tation of pass book .
3,699,616
3,580,130
3,500,298
1,403,295
1,238,661
Due to reserve banks
726,101
1,057,772
1,362,209
348.801
10,238,139
8,969,703
9,237,239
“ “ other banks
9,688,341
4,004,482
8,307,326
173.221
111,091
174,209
Sinking fund, railroads
351,107
111,940
114,325
2,295.912
2,237,999
“
“
corporation
2,165,932
2,112,883
2,112,065
2,201,900
40,844
3,456
2,614
136,674
Dividends unpaid .
3,399
64,311
800
4,866
279,125
Reserve for taxes .
275,125
1 0,000
136,775
Bills payable, including certifi­
cates of deposit representing
103,000
78,000
28,000
monev borrowed
118,000
128,000
129,275
51,453
52,242
93,393
Other liabilities
.
.
.
49,278
47,482
28,094


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$212,377,791 $231,841,236 $249,133,359 $258,143,237 $262,908,075 $255,547,969

No. 8]

BANK COMMISSIONER

X X X V ll

Trust Companies in Boston

Banking Departments

Feb. 14, 1908 May 14, 1908 July 15,1908 Sept. 23,1908 Oct. 31,1908 Nov. 27, 1908
23
23
23
23
23
23
Trust Com­ Trust Com­ Trust Com­ Trust Com­ Trust Com­ Trust Com­
panies
panies
panies
panies
panies
panies

Assets
Securities

United States bonds
Massachusetts bonds
Other stocks and bonds .

$4,282
4,113,960
25,959,530

$4,282
4,112,803
28,327,653

$4,282
4,108,103
27,453,043

$4,282
4,213,780
28,639,114

$4,282
4,213,480
27,559,633

$4,282
4,213,480
27,259,840

2,986,816
24,536,844
2,508,279
30,622,403
35,407,170
88,595
2,904,392

3,043,460
26,228,766
2,505,620
29,969,335
43,973,345
66,225
958,051

2,906,144
27,191,279
2,760,426
32,634,462
46,356,499
56,490
522,055

3,026,456
25,464,246
3,958,480
36,016,683
51,335,772
63,248
501,225

3,008,790
26,507,050
4,283,257
35,548,782
49,531,224
20,014
510,775

3,005,879
26|874’l29
4,598,114
36,801,319
46,658,124
69,188
520,325

5,758,528
142,019
72,983
63,443

5,901,398
147,333
74,777
14,016

5,850,087
159,325
80,388
17,876

5,839,276
156,138
80,783
18,061

5,876,438
165,138
80,783
18,061

5,908,919
159,453
81,483
18,261

7,500
120,857

6 ,0 0 0

6 ,0 0 0

115,037

130,464

149,130

188,012

6 ,C00
215,628

17,840,559
3,211,771
6,529,614
290,480
59,825

21,061,245
4,950,322
7,081,232
410,567
31,638

28,919,720
6,004,850
7,510,472
611,211
54,166

26,933,303
6,698,478
8,430,675
361,374
40,689

31,445,972
6,857,742
8,636,302
646,198
108,554

26,847,184
6,353,391
8,567,840
521,169
28,002

Loans, etc.

Loans on real estate
Demand loans with collateral .
Other demand loans
Time loans with collateral
Other time loans
Overdrafts .
. . .
Syndicate participations .
Real Estate, etc.

Banking house
Real estate by foreclosure
Safe deposit vaults .
Furniture and fixtures
Miscellaneous

Premium account .
Other assets . . .

.

6 ,0 0 0

6 ,0 0 0

Cash

Due from reserve banks .
Due from other banks
Currency and specie
Checks on other banks .
Other cash items

$163,229,850 $178,983,105 $193,337,342 $201,937,193 $205,216,487 $198,712,010
Liabilities

Capital stock .
. . .
Surplus fund .
. . .
Earnings undivided, less ex­
penses, interest and taxes
paid
. . . .
Deposits (pavable on demand or
within ten days): —
Subject to check .
For payment of coupons, etc.
Certificates of deposit .
Certified checks .
Treasurer’s checks
Interest deposits subject to
withdrawal onlv on presentation of pass book .
Deposits (time): —
Certificates of deposit .
Open accounts
Interest deposits subject to
withdrawal onlv on presentation of pass book .
Due to reserve banks
“ “ other banks
,
Sinking funds, railroads .
“
“ corporations
Dividends unpaid .
Bills payable . . .
.
Other liabilities
Reserve for taxes .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$11,752,000
2 0 ,2 10 ,00 0

$11,752,000
20,213,000

$11,752,000
20,215,000

$11,752,000
20,215,000

$11,752,000
20,215,000

$11,752,000
20,215,000

4,106,985

4,469,913

4,417,505

4,787,028

4,248,568

4,568,565

113,934,263
1,410,773
2,166,809
825,186
727,023

123,370,852
1,521,203
2,527,861
1,000,675
1,057,890

134,993,166
1,029,333
2,608,342
1,587,508
789,482

143,290,061
1,181,930
2,385,028
909,620
628,392

144,572,251
5,018,819
2,410,941
542,787
550,831

139,178,502
1,325,687
2,504,881
1,456,866
1,184,904

232.069

359,945

387,865

381,950

368,181

346,377

181,064
1,284,412

405,165
2,261,382

400,996
3,380,356

295,882
4,546,287

266,199
3,739,336

246,925
3,411,817

-

5,922
417,779
7,217,633
114,325
2,080,823
63,133

31,211
579,443
8,348,743
351,107
2,100,980
131,156

70,620
900,837
8,026,947
174,209
2,156,412
1,784

30,829
112,775

1,824
231,325

103,044
1,056,262
7,837.195
173,221
2 ,2 21 ,66 6
39,468
50,000
46,652
4,066

908,402
9,046,243
111,091
2,280,163
2,541
50,000
2,C45
-

170,138
3,918,488
111,940
2,192,976
2,561
-

3,163
$163,229,850

-

-

-

1,881
231,325

120,001

$178,983,105 $193,337,342 $201,937,193 $205,216,487 $198,712,010

REPORT OF THE

xxxviii

[Pub. Doc.

Trust Companies outside of Boston

Banking Departments

Feb.14,1908 May 14, 1908 July 15,1908 Sept. 23,1908 Oct. 31,1908 Nov. 27, 1908
29
29
29
29
29
30
Trust Com­ Trust Com­ Trust Com­ Trust Com­ Trust Com­ Trust Com­
panies
panies
panies
panies
panies
panies

Assets
Securities

United States bonds
Massachusetts bonds
Other stocks and bonds .

i

$1,465,065
5,824,470

_
$1,459,065
6,316,048

_
$1,462,959
6,729,392

_
$1,462,959
6,519,196

_
$1,462,959
6,596,096

2,646,973
3,638,359
1,547,603
6,082,322
20,736,660
12,650
228,974

2,728,812
3,672,770
1,522,651
6,564,018
22,120,177
15,953
45,444

2,728,791
3,860,464
1,535,227
7,238,455
22,899,082
12,422
10,506

2,875,009
3,895,618
1,538,087
7,410,295
24,317,311
8,756
10,506

2,959,476
4,110,548
1,575,418
8,098,636
23,492,503
8,025
6,006

3,019,004
4,277,406
1,511,153
S,243,395
23,238,690
14,190

452,340
43,183
241,098
89,978

512,500
43,281
208,050
91,093

557,054
58,924
212,616
90,256

558,053
59,440
233,502
84,293

560,033
59,744
236,367
84,625

561,778
59,655
264,713
82,012

1,182
30,841

1,182
214,117

1,182
104,794

1,182
59,925

47,212

59,065

3,549,129
215,719
2,079,601
228,110
33,684

4,348,719
445,094
2,263,930
188,973
96,254

5,213,056
413,998
2,363,359
229,153
74,327

4,377,753
239,487
2,361.800
137,379
55,493

5,362,889
456,142
2,223,351
286,109
65,449

4,063,389
487,452
2,419.983
151.199
111,089

$49,147,941

$52,858,131

$55,796,017

$56,206,044

$57,691,588

$56,835,959

$5,775,000
2,727,000

$5,880,000
2,833,000

$5,963,600
2,890,900

$5 975,700
2,903,000

$5,977,200
2,934,000

$6,098,400
2,952,200

1,787,539

1,863,703

1,801,483

1,973,272

1,815,877

1,920,154

29,856,532
26,624
914,970
58,605
81,893

31,687,152
27,904
978,141
75,650
58,178

32,890,886
42,364
869,322
104,998
68,625

33,679,499
74.959
845,756
56,812
30,765

34,891,225
46,301
879,754
122.158
65,977

34,587,708
31,838
965,050
72,305
55,516

2,597,778

2,800,671

3,009,033

3,197.286

3,195,248

3,245,959

315,183
1,067,894

344,969
1,135,467

384,794
2,057,005

333,355
1,826,521

317,538
1,822,207

272,489
1,121,336

3,500,298
178,663
85,994
8,924
838

3,574,208
308,322
1,089,693

3,668,405
478,329
1,339,598

3,768,480
461,372
942,756

3,870,977
330,259
1,191,896

$56,835,959

$1,467,252
6,804,534

Loans, etc.

Loans on real estate
Demand loans .with collateral .
Other demand loans
Time loans with collateral
Other time loans
Overdrafts . . .
.
Syndicate participations .

\
1
,

Real Estate, etc.

Banking house
Real estate by foreclosure
Safe deposit vaults .
Furniture and fixtures

|

Miscellaneous

Premium account .
Other assets .
. .

.

Cash

Due from reserve banks .
Due from other banks
Currency and specie
Checks on other banks
Other cash items

Liabilities

Capital stock .
. . .
Surplus fund . . . .
Earnings undivided, less ex­
penses, interest and taxes
paid
.
. . .
Deposits (payable on demand or
within ten davs): —
Subject to check .
For payment of coupons, etc.
Certificates of deposit .
Certified checks .
Treasurer’s checks
Interest deposits, subject to
withdrawal only on presentation of pass book .
Deposits (time): —
Certificates of deposit .
Open accounts
Interest deposits subject to
withdrawal only on presentation of pass book .
Due to reserve banks
“ “ other banks
Sinking funds, railroads .
“
“
corporations
Dividends unpaid .
Reserve for taxes .
Bills payable .
.
.
.
Other liabilities


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

129,275
24,931

31,242
1.178
24,000
128,000
16,653

11,903
5,518
43,800
118,000
47,454

9,520
830
47,800
28,000
50,361

3,783,776
347,033
1,400,044
16,333
1,376
800
28,000
46,741

$49,147,941

$52,858,131

$55,796,017

$56,206,044

$57,691,588

10,000

-

-

-

1

-

15.749
915
800
53,000
49,408

i

I

No. 8]

BANK COMMISSIONER

X X X IX

Trust Departments

The following table shows
departments of the 24 trust
ments on October 31, 1908.
departments has decreased by
$2,854,000.

the assets and liabilities of the trust
companies maintaining such depart­
During the year the number of trust
1 , and their assets have increased by

Trust Departments

Oct. 31, 1908

Oct. 31, 1908

12

Boston Companies

Companies outside
of Boston

Trust Companies

$47,410
338,152
1,139,972
157,327
909,988
1,323,817
7,470,268
1,096,421
4,751,508

35
10
16
50
48
23
62
57
41

$16,420
7,000
270,845
209,399
445,053
82,818
1,995,976
71,674
700,282

00
00
23
12
75
52
51
37

$63,830
345,152
1,410,817
366,726
1,355,042
1,406,635
9,466,245
1,168,096
5,451,790

35
10
39
62
23
23
14
08
78.

9,341,649
145,645
13,153
30,450

20
00
25
00

3,381,655
81,400
6,625
36,640

00
00
96
00

12,723,304
227,045
19,779
67,090

20
00
21
00

12

Oct. 31, 1908
24

Assets
Securities

United States b o n d s ..........................................
State bonds .
.
.
.
.
.
.
.
City, county and town bonds.................................
Railroad bonds
.
.
.
.
.
.
.
Street railway bonds • ..........................................
Miscellaneous bonds
.
.
.
.
Bank stocks..........................................................
Railroad stocks .
.
.
.
.
.
.
Manufacturing stocks .
.
.
.
.
.
Miscellaneous s t o c k s ..........................................

00

Loans

Loans on real estate
.
.
.
.
.
.
Loans with collaterals or sureties . . . .
Notes of individuals
.
.
.
.
.
.
Notes of corporations..........................................
Real Estate

Real estate owned .
.
.
.
.
.
.
Real estate by foreclosure.................................

3,250,157 92
95,637 15

219,786 92

3,469,944 84
95,637 15

Miscellaneous

Trust fund agreements .
.
.
.
.
.
Annuities .
.
.
.
.
.
.
.
S u n d rie s..........................................................

330,831 26
45,328 93
393,666 96

4,892 79

330,831 26
45,328 93
398,559 75

43,255 75
309,637 81
4,979 47

205,184 12
105,621 54
3,159 22

248,439 87
415,259 35
8,138 69

$31,239,259 12

$7,844,435 05

$39,083,694 17

$28,346,255
2,525,448
363,567
3,988

19
06
10
77

$7,491,192 56
315,668 49
37,574 00

$35,837,447
2,841,116
401,141
3,988

$31,239,259 12

$7,844,435 05

$39,083,694 17

Cash

Deposits in savings banks
.
.
.
.
.
Deposits in national banks or trust companies .
Cash on hand
.
.
.
.
.
.
.

Liabilities

On trust accounts .
.
.
.
.
.
.
As executors, administrators, etc..............................
Income
.
.
.
.
.
.
.
.
Dividends...........................................................

75
55
10
77

Earnings and Dividends

The aggregate income account o f the trust companies for the years
ending October 31, 1906, 1907 and 1908, is as follows: —


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

xl

REPORT OF THE

Gross e a r n in g s ..................................................
Less interest paid to depositors
. .
“ expenses, taxes, premiums and losses

.

.

Total deductions..........................................
Balance available for dividends
Dividends paid
.
.
.

.

.

.

.

Balance
.
.
.
.
.
.
.
.
Of which —
Transferred to surplus..........................................
Carried as undivided earnings .
.
.
.
.

[Pub. Doc.

1908

1907

1906

$10,745,948 97

$11,598,879 05

$10,805,966 74

$3,603,086 63
4,647,277 70

$3,551,136 70
4,681,745 07

$3,333,789 33
4,072,822 97

$8,250,364 33

$8,232,881 77

$7,406,612 30

$2,495,584 64
1,713,706 00

$3,365,997 28
1,626,500 00

$3,399,354 44
1,399,875 00

$781,878 64

$1,739,497 28

$1,999,479 44

$114,500 00
667,378 64

$1,399,500 00
339,997 28

$1,254,500 CO
744,979 44

The comparative earning power o f the deposits and assets of trust
companies and savings banks, which has been referred to in the two
preceding reports, is again presented in the following table. The
impression prevails very generally that the earnings of trust com­
panies are at very much higher rate than those of savings banks.
This is doubtless because the dividends o f savings banks are paid
on their deposits, while those of trust companies are paid on a rela­
tively small amount of capital stock subscribed by the shareholders.

Gross I ncome to Average
D eposits

Savings banks.................................
Trust companies

.

Gross I ncome to Average
Assets

1303

1307

1906

1308

1907

1906

Per Cent.
4.77

Per Cent.
4.73

Per Cent.
4.60

Per Cent.
4.55

Per Cent.
4.54

Per Cent.
4.21

6.35

6.47

5.79

4.81

5.14

4.54

As a matter of fact, the percentages of gross return on the assets
o f the two classes of institutions show very little difference. The
assets of the trust companies during a period of three years earned,
gross, a yearly average of only .4 of 1 per cent, more than the assets
o f the savings banks.
Number of Depositors

The total number of depositors in trust companies on October 31,
1908, was 134,881; 1907, 128,953; 1906, 112,728; 1905, 99,271.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

xli

Savings Deposits in Trust Companies

The following statement shows the interest deposits subject to
withdrawal only on presentation of pass books, which have been
regarded as savings deposits, on October 31, 1906, 1907 and 1908: —

NAME OF COMPANY

Central Trust Company . . . .
Gloucester Safe Deposit and Trust Company .
Haverhill Trust Company . . . .
Lynn Safe Deposit and Trust Company
Malden Trust Company . . . .
North Adams Trust Company
Old Colony Trust Company
Puritan Trust Company . . . .
Security Safe Deposit and Trust Company .
United States Trust Company .
Waltham Trust Company . . . .
T o t a l ..........................................

Location

Cambridge
Gloucester
Haverhill
Lynn
Malden .
North Adams
Boston .
Boston .
Lynn
Boston .
Waltham

Oct. 31, 1908

$544,979
1,970,456
550,988
1,541,729
464,986
94 376
368,181
36,338
1,188,532
66,705
622,975

03
38
78
24
02
61
35
15
47
57
27

$7,450,248 87

Oct. 31, 1907

$202,842
2,001,882
534,056
1,179,724
348,034
131,028
18,370

Oct. 31, 1906

21
72 $1,931,375 01
78
404,918 80
34
1,084,066 71
34
304,730 82
44
103,915 29
45

1,068,915 09

898,873 45

611,090 70

468,964 30

$6,095,945 07

$5,196,844 38

On January 1 , 1909, the trust companies having savings deposits,
in accordance with the provisions of chapter 520 of the Acts of 1908,
transferred them to a separate department, together with a corre­
sponding amount of loans and investments of various kinds. Such
portion of these loans and investments as do not comply with the
laws governing the investments of savings banks are required by law
to be changed to conform with that standard. In order that this may
be done with a minimum of hardship, the trust companies are given
until November 1 , 1913, to complete the change, but at least onefifth of the assets of the savings department must be so changed in
each of the intervening years.
In transferring what have been regarded as savings deposits to the
savings department, certain large accounts which were not really
savings deposits, but for which, as a matter of convenience, pass books
in savings bank form had been issued, were either transferred by
the trust companies to their open accounts, or certificates of deposit
were issued for them.
In the 1907 report it was stated that out of total “ savings ” de­
posits of $6,095,945.07, belonging to 18,560 depositors, only $3,436,470.73, belonging to 17,798 depositors, were accounts of less than
$1,600. The remaining 762 accounts aggregated $2,659,474.34, or
an average of nearly $3,500 each.


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Federal Reserve Bank of St. Louis

xlii

REPO RT OF THE

[Pub. Doc

Reserves of Trust Companies

Since August 22 , 1908, the trust companies, in furnishing to
tiiis department and in publishing in the newspapers the reports of
their condition, have been required to state the average percentage of
reserve held by them for the thirty business days ending with the
date of the report.
The following table shows the total amount held by the trust com­
panies in the various forms in which reserve is permitted by law
to be kept. As in previous years, the total amount so held has been
largely in excess of the legal requirement.
Trust Companies in Boston

No.
DATE

of

Cos.

Total Amount
carried in Cash,
R eserve Banks

Net
Deposits

Reserve
required

AND U. S. AND

Amount

Feb.
May
July
Sept.
Oct.
Nov.

14
14
15
23
31
27

Classification

23 1119,296,123 $17,894,418 $28,488,415
23 129,452,524 19,417,878 32,259,562
23 140,847,348 21,127,101 40,542,577
23 148,467,490 22,270,124 39,582,040
23 152,924,973 22,938,745 44,300,036
23 145,523,416 21,828,511 39,632,786

PerCent,
of
Deposits

of

Reserve

CASH

Amount

Per Cent,
of
Deposits

23.88 $6,529,614
24.92 7,081,232
28.78 7,510,472
26.66 8,430,675
28.96 8,636,302
27.23 ! 8,567,840

U. S. and
Mass.
Bonds

Due from
Reserve
Banks

5.47
5.47
5.33
5.68
5.65
5.89

$4,118,242 $17,840,559
4,117,085 21,061,245
4,112.385 28,919.720
4,218,062 26,933,303
4.217.762 31,445.972
4,217,762 26,847,184

6 .2 0

6.39
6.42
6.26
5.75
6.24

$1,465,065 $3,549,129
1,459,065
4,348,719
1,462,959
5,213,056
4,377,753
1,462,959
1,462,959
5,362,889
1,467,252
4,063,389

5.63
5.67
5.56
5.80
5.67
5.96

$5,583,307 $21,389,688
5,576,150 25,409,964
5,575,344 34,132,776
5.681,021 31,311,056
5,680,721 36,808,861
5,685,014 30.910,573

Trust Companies outside of Boston
Feb. 14
May 14
July 15
Sept. 23
Oct. 31
Nov. 27

29 $33,536,402
29
35,455,283
36,800,132
29
37,753,303
29
38,661,826
29
30 38,807,998

$5,030,460
5,318,292
5,520,020
5,662,995
5,799,273
5,821,198

$7,093,795
8,071,714
9,039,374
8,202,512
9,049,199
7,950,624

21.15 $2,079,601
22.77 2,263,930
24.56 2,363,359
21.73 2,361,800
23.41 2,223,351
20.49 2.419,983

All Trust Companies
Feb.
May
Julv
Sept.
Oct.
Nov.

14
14
15
23
31
27

52 $152,832,525 $22,924,878 $35,582,210
52 164,907,807 24,736,170 40,331,276
52 177,647,480 26,647,121 49,581,951
52 186,220,793 27,933,119 47,784,552
52 191,586,799 28,738,018 53,349,235
53 184,331,414 27,649,709 47,583,410


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Federal Reserve Bank of St. Louis

23.28
24.46
27.91
25.66
27.85
25.81

$8,609,215
9,345,162
9,873,831
10,792,475
10.859,653
10.987,823

BANK COMMISSIONER

No. 8]

xliii

Legislation in 1908

Although but one act relative to trust companies was passed in
1908, it contained a number of provisions, as follows: —
1 . Requiring a trust company receiving savings deposits to keep
them in a separate department and invest them under the laws gov­
erning the investments of savings banks. Reference has already been
made to the operation of this provision.
2 . The provisions relative to the reserve of trust companies are
changed in the following particulars : —
a. Time deposits, in order to be exempted from the reserve
requirements, must be “ represented by certificates or agree­
ments in writing and payable only at a stated time,” but when­
ever such time deposits may be withdrawn within thirty days,
they are subject to the reserve requirements of the act.
b. Bonds of the United States or of Massachusetts, to be
counted as reserve, must be the absolute property and in the pos­
session of the trust company, and must be computed at their
fair market value instead of at their par value.
c. Trust companies in Boston may be authorized by the
Bank Commissioner to act as reserve agents for trust companies
doing business in the Commonwealth.
d. The total amount of reserve to be kept is changed from
15 per cent, for all trust companies to
20 per cent, fo r Boston trust companies,
15 per cent, for other trust companies.

Instead of being composed entirely of currency and specie,
the reserve may consist o f the follow ing: —

Deposits in
Reserve Banks

Currency and Specie

10%

Reserve trust companies

of deposits

10%

U. S. and Mass.
Bonds

of deposits

0

Boston

“

“

.

.

.

8

“

8

“

14

Other

“

“

.

.

.

6

“

6

“

2


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Federal Reserve Bank of St. Louis

1 Optional: 12% may be carried in banks.
2 Optional : 9 % may be carried in banks.

% of deposits
“

3 “

xliv

R E PO R T OF THE

[Pub. Doc.

3. The inoperative and unproductive tax on time deposits in trust
companies is repealed.
4. The provision requiring an annual report on a fixed day is
repealed, and the signatures of but four directors are required on
reports o f condition made to this department, instead of a majority
o f the directors, as heretofore.
5. Directors who are not members of the executive committee or
active officers of a trust company may serve on the examining com­
mittee.
6 . The restrictions as to the kind of business which may be done
at a branch office of a trust company are repealed.
Insolvent Trust Companies
S u f f o l k T ru st C o m p a n y

The receiver has filed with the court the first of the two reports
required by law after his accounts have been closed, and expects to
file his final report during 1909.
T aunton

Safe

D

e p o s it

and

T

ru st

C ompany

Exceptions having been taken to the master’s report in the pro­
ceedings to authorize an assessment of stockholders, it has not yet
been possible to make the necessary assessment.

NATIONAL BANKS IN MASSACHUSETTS
The following table shows the assets and liabilities of the banking
departments of all trust companies in Massachusetts, together with
the assets and liabilities of Massachusetts national banks, on the
dates specified: —


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER
Nov. 27, 1908

Nov. 27, 1908

xlv

Dec. 3, 1907

53

197

52

Trust Com­
panies

National
Banks

Trust Com­
panies

Dec. 3, 1907
202

National
Banks

Assets
Securities

U. S. bonds for circulation
“
“
“
“ deposits
Other bonds for deposits
U. S. bonds..........................................
Other bonds, securities, etc. .
Loans, etc.
Loans and discounts . .
Overdrafts .
.
.
.
Syndicate participations

$4,281 94
39,745,105 69

*30,114,000
1,990,000
2,330,850
95,000
35,470,389

00
00
35
00
29

$4,281 94
35,818,551 66

$31,285,000
1,434,500
8,519,511
65,500
28,475,919

00
00
68

00
07

.

.
.

158,227,211 83
83,378 40
520,325 00

306,261,887 04
219,307 75

130,613,999 34
99,115 07
4,329,517 84

286,291,606 33
107,669 32

.

.

.

6,917,166 80
219,107 79

9,022,167 41
267,772 44

5,326,452 98
176,400 67

8,422,039 55
215,112 59

.

.
.

.
.

6 ,0 0 0 00

252,075 18

8,682 00
134,622 21

282,873 24

.

Real Estate

Banking houses, etc. .
Other real estate owned
Miscellaneous

Premium account
Sundry assets
.

.

.

.

274,694 03

Cash

Due from reserve banks
“ “ other banks . . . .
Currency and specie
. . . .
Checks on other banks . . . .
Other cash items .
.
.
.
.
Clearing house certificates
5 per cent, fund with D. S. Treasurer
Due from U. S. Treasurer

Liabilities

Capital stock
.
.
.
.
.
Surplus fund
.
.
.
.
.
Undivided profits, less expenses, interest
and taxes paid .
.
.
.
.
National bank circulation
Due to reserve banks . . . .
“ “ other banks
. . . .
Deposits
.
.
.
.
.
.
Bonds borrowed .
.
.
.
.
Notes rediscounted
. . . .
Bills p a y a b l e .................................
Dividends unpaid
. . . .
Reserve for taxes.................................
Clearing house_certificates
Sundry liabilities .
.
.
.
.

30,910,573
6,840,842
10,987,822
672,367
139,091

48
40
65
70
49

50,178,098 54
23,201,734 03
41,557,029 88
19,156,035 86
1,033,989 00

19,872,322
2,336,126
9,219,481
898,675
142,405

91
12
15
76
97

1,466,510 00
646,882 50

42,840,937
21,276,444
28,800,124
14,183,807
1,116,428
5,310,059
1,478,195
204,139

04
42
26
58
99
00
00
43

*255,547,969 20

*523,263,729 27

*208,980,635 62

*480,309,867 50

*17,850,400 00
23,167,200 00

$56,367,500 00
33,128,911 11

*17,527,000 00
22,882,500 00

*59,167,500 00
33,875,371 11

5,865,676 24

51,450 44

93,320 64

25,774 98

16,459,635 36
29,621,280 00
8,409,879 36
70,766,126 59
247,415,239 65
6.008.500 00
220,482 98
2.897.500 00
56,499 29
76,909 20
5,309,472 00
25,471 96

*255,547,969 20

*523,263,729 27

*208,980,635 62

*480,309,867 50

6,488,719 00
1,238,661 09
10,238,138 99
196,406,143 18

16,611,832
29,201,977
10,475,577
97,587,591
276,425,363
1,999,000

60
50
64
97
20
00

502,179 30
3,103,408 77
156,834,268 14

1 0,000 00

103,000 00
3,456 50
800 00

1,241,443 76
49,505 72
71,705 13

2,225,510 69
2,817 50
11,500 00

During 1908 the following Massachusetts national banks were
placed in voluntary liquidation : —


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Federal Reserve Bank of St. Louis

R E PO R T OF TH E

xlvi

Location

Name

Date placed
in
Liquidation

Capital

Prescott National Bank .

Lowell

Feb. 8,1908

$300,C00

First

Gloucester .

Mar. 26, 1908

200,COO

“

.

“

2 ,0 00 ,0 0 0

[Pub. Doc.

Deposits

Absorbed by —

$401,107 90 Union National Bank
265,345 27 Gloucester Safe Deposit
and Trust Co.
12,622,513 94 National Shawmut Bank

National Bank of the Republic

Boston

April 7, 1908

Newton National Bank .

Newton

April 14,1908

2C0,C00

442,926 82 Newton Trust Co.

Medford

Oct. 31, 1908

100,000

394,547 75 Medford Trust Co.

Medford

“

“

The Manufacturers National Bank of North Attleborough, cap­
ital $100,000, began business A pril 2, 1908.

FOREIGN BANKING CORPORATIONS
Number of Foreign Banking Corporations

No new foreign banking corporations were authorized to do busi­
ness in the Commonwealth during the year, and the number of such
corporations remains at 2 , the statements of both of which will be
found at the end of the report.
Insolvent Foreign Banking Corporations

The receiverships of both the Provident Securities and Banking
Company and the Hanover Bank have been closed.
P

r o v id e n t

S e c u r it ie s

and

B

a n k in g

Com pany

During the year the receivers rendered their final report, showing
total collections of $6,402.78, from which, after expenses had been
paid, a balance of $8,500.37 remained in their hands. They re­
quested that $2,500 be allowed them for services, leaving a balance
of $1,000.37 to be turned over to the court for distribution among the
17,000 or more depositors.
The report was accepted by the Supreme Judicial Court, and the
receivers discharged.
H

anover

B

ank

On February 25, 1908, Mr. Charles C. Barton, Jr., receiver of
the Hanover Bank, filed his final report, showing total collections of
$2,042.96, from which expenses of $982.56 had been paid.
He
recommended the payment of a preferred claim of $278.47, and re-


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

xlvii

quested that the balance of $781.93 be allowed and paid to him for
services as receiver.
On A pril 21 , 1908, the Supreme Judicial Court accepted and con­
firmed the final report, and discharged the receiver.

STEAMSHIP AGENTS WHO SELL DRAFTS AND RECEIVE
DEPOSITS
The only change in the laws relative to this class of bankers was
contained in chapter 437 of the Acts of 1908, which authorized the
Bank Commissioner to inspect the books of all such persons, partner­
ships, associations or corporations, whether or not they did a business
which required them to furnish a bond. The act further required
that the Bank Commissioner should approve the bonds offered by this
class o f bankers before they were accepted by the Treasurer and
Receiver-General. Inasmuch as a large proportion of the bonds fur­
nished are personal bonds, the examination into the sufficiency of the
sureties on personal bonds has occupied a large part of the time of
the clerk whose special duty it is to examine and report upon this
class o f bankers. While every endeavor is made to render these
personal bonds as strong as possible, they are unsatisfactory at best,
and the bankers are urged to furnish bonds written by a responsible
surety company, whenever they may be obtained. They are ham­
pered, however, by the fact that the bond required is so comprehensive
that most of the surety companies will not write it at all, and those
who do write it will become liable under it for only relatively small
amounts.
On October 31, 1908, the total number of these bankers who had
furnished bonds was 59, and the total amount of their bonds was
$609,500. The number making reports was 169. The deposits held
by them were $337,589.81, a decrease during the year of $51,150.96.
The following table contains an abstract of the annual reports of
these' bankers on October 31, 1907 and 1908, showing the amount
of money forwarded to the various countries: —


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Federal Reserve Bank of St. Louis

REPO RT OF THE

xlviii

[Pub. Doc.

Amount forwarded

during

Y ear

ending

—

COUNTRY
October 31, 1908

October 31, 1907

Italy

.

.

.

.

.

.

.

$2,206,626 46

$3,107,405 11

Russia

.

.

.

.

.

.

.

925,420 36

1,016,565 48

Great Britain and Ireland
Austria-Hungary

.

.

.

.

438,716 89

619,393 77

.

.

190,340 05

193,952 85

.

.

.

Greece

.

.

.

.

.

.

.

188,323 31

145,754 81

Finland

.

.

.

.

.

.

.

98,885 07

100,914 11

.

87,835 41

76,488 66

Sweden and Norway .

.

.

.

Turkey in Europe and Asia
Germany .

.

Other countries .
Totals

47,544 54

37,103 58

.

.

.

.

20,808 71

12,936 96

.

.

.

.

.

247,439 46

325,207 30

.

.

.

.

.

$4,451,940 26

$5,635,722 63

.

.

•

O f the total amount, forwarded to Italy in 1908, $478,207.11, or
over one-fifth, was delivered to the bankers for deposit in the Italian
Postal Savings Bank.
The total amount forwarded in 1908 shows a decrease of $ 1 ,183,000, of which $900,000 is in the amount forwarded to Italy
alone.
Speaking generally, the year has not been a prosperous one for
these bankers. The business done by the Italians has been especially
light because large numbers of their countrymen who went to Italy
in the fall of 1907 failed to return in the spring of 1908, owing
to the lack of demand for laborers. With hut few minor exceptions,
however, these bankers have met their obligations promptly, and in
no case has it been found necessary to bring action against the sureties
on the bond delivered to the Treasurer and Receiver-General.

UNAUTHORIZED BANKING
The Receipt of Deposits by Department Stores

This practice, which was noted in the 1906 report of this depart­
ment, has, as suggested therein, been spreading, and is now in active
operation in one department store in Boston, one in Worcester and


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Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

xlix

one in Brockton, with the probability that a number of others will
take it up if it is not checked in some way. The manner in which
it is being operated is this: the department store has what it calls
a “ deposit account department/’ in which any one may deposit sums
of money and receive therefor a receipt, similar in form to the pass
book used by a savings bank. On this deposit the store allows in­
terest, usually at 4 per cent. The depositor may use the money de­
posited to purchase goods at the store, or may, by a draft, withdraw
all or any part of it in cash. In order to stimulate the growth of
the deposit account department, at least two of the three stores have
made contracts with a company which manufactures small pocket
safes to sell large numbers o f these safes, at 50 cents each, to pos­
sible customers of their store. The safes can be opened only at the
store, as the depositors have no keys to them.

While the money thus deposited is virtually loaned to the stores
and is used in their business, the managers of the stores represent
that they have entered into the plan to obtain customers, and not
to obtain money; and in one at least of the stores the intention is
expressed by the managers of asking those depositors to withdraw
who do not use their accounts for the purpose for which they are
received. But if a store which does not want or need the money
is permitted to receive these accounts, other stores which do want
and need the money are sure to take up the plan fully as much to
get capital as to obtain customers; and if such a store should fail
it is inevitable that its depositors would lose money.
From time to time as the practice has developed the AttorneyGeneral has been consulted, but has expressed his opinion that the
business is not at present being done contrary to any existing law.
The situation is therefore submitted for your consideration, in the
belief that it is not a desirable policy to permit department stores
to conduct what is virtually a savings bank business.
Voluntary Agencies for the Encouragement of Thrift

In the report of this department which was submitted to the
General Court on February 11 , 1907, a brief review was made,
under the heading “ Unauthorized Banking,” of the various agencies
which without legal authority were engaged in receiving deposits
for the encouragement of thrift. Since that time further investiga­
tion of the subject has been made, and there have been fou n d : —


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Federal Reserve Bank of St. Louis

1

REPORT OF THE

[Pub. Doc.

( 1 ) A large number of stamp and school saving organizations,
operating principally among children.
( 2 ) Eight cases in which manufacturers and other large employers
of labor receive and allow interest on the deposits of their employees,
in order to encourage them to save.

(3 ) Five cases in which the employees of a business house or
corporation have organized themselves into a “ savings and loan as­
sociation,” which receives the deposits of its members and invests
them in stocks and bonds or in loans to the members.
That those employers of labor who receive the deposits of their
employees do it solely to encourage thrift, there can be but little
doubt; nevertheless, in one such instance at least in Massachusetts,
and in several instances in other States, the employers have failed
and the employees have lost their money. Heretofore employers of
labor whose works were situated at a distance from a savings bank
have perhaps been justified in acting in what they have considered
a fiduciary capacity for their employees who wished to save; but as
it is now possible, under the new savings bank law, for a bank
to send a representative to the factory on pay day to receive the
deposits of the employees, there is no reason why the practice
should continue.
The new savings bank law, however, provides no substitute for
the associations referred to under Ho. 3 above, nor does it deal in
any way with the field which they occupy. In the opinion of the
present commissioner, it is desirable not only that they should be
allowed to continue, but that the formation of other similar associ­
ations should be encouraged.
The oldest of these associations is the Globe Savings and Loan
Association, organized in 1892 and limited in its membership to
employees of the “ Boston Globe.” A t the time it was organized
many of the employees of the “ Globe ” were either borrowing from
other employees or from individuals or corporations which loaned
money on the assignment of wages. The association was, therefore,
formed primarily as an agency through which the employees might
obtain loans, when necessary, at reasonable rates. To this end
deposits have been received from its members only to an extent
sufficient to supply the need for loans. On January 1, 1909, the
balance sheet of the association was as follow s: —


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Federal Reserve Bank of St. Louis

li

BANK COMMISSIONER

No. 8]

L ia b ilit ie s

A ssets

. $48,329 00
.
5,209 64

Loans .
Cash on hand .

Deposits
Undivided earnings .

. $53,319 00
219 64
$53,538 64

$53,538 64

The number of em ployees at the present time is 600, of whom 444
are members of the association.
The following is an analysis, by amounts, of the loans made during
1908: —
From
“
“
“
“
“
“

$1
6
11
26
51
101
205

to
“
“
“
“
“
“

$5
10
25
50
100
200
500

.

Number

Amount

2,407
789
987
245
95
37
19

$14,279
6,194
17,991
9,579
8,305
5,178
6,045

4,579

$67,571

In all of these cases the associations are purely mutual or co-operative, receiving deposits from, and making loans to, their own mem­
bers only. They are not organized by the employer for the benefit
of his employees, but are organized and operated by the employees
for their own benefit.
The success o f these voluntary associations as agencies, both for
the stimulation of thrift and for the loaning of money to those who
need to borrow, raises the question whether it would not he wise to
provide by law for some form of organization through which persons
of moderate means in favorable localities might associate themselves
for these purposes, after the manner of the credit unions and people’s
banks of the European countries, India and Canada. These institu­
tions have for their object the accumulation of savings among, and
the extension of credit to, their members. Though differing in detail
in the various countries, the following fundamental principles are
common to a ll: —
1. Only honest and industrious persons are admitted to membership.
2. Loans may be made to members only.
3. A borrower may offer either property or the endorsement o f one or
more members, as security fo r his loan.
4. No loan shall be made unless the credit committee approves the object
for which the money is to be used.


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Federal Reserve Bank of St. Louis

lii

REPORT OF THE

[Pub. Doc.

5. The use o f the money fo r any other purpose renders the borrower
liable to expulsion from membership.
6. At all meetings a member has only one vote, irrespective o f the number
o f shares he or she owns.

These institutions, of which there are more than 25,000 in the
European countries, with a membership of over 3,000,000 and assets
of well over $ 1 ,000 ,000 ,000 , have been o f great service to the com­
munities in which they have been established. They constitute a
medium through which farmers, small tradespeople and workmen
o f good character and industrious habits may join together to collect
small savings and to provide loans to those of their associates whose
credit is not recognized by banks of discount.
Ho attempt will he made to describe these institutions in detail,
as they have been fully described by Mr. Henry W. W olff in two
books in English, entitled “ People’s Banks ” and “ Co-operative
Banks,” and by many writers in other languages. It is sufficient to
say that they have had a record of over fifty years of success; that
for the stimulation of savings in small amounts they have proved a
remarkably efficient complement to the postal, municipal and other
savings hanks with which the European countries are fully supplied ;
that they have made it possible for immense numbers ( a ) of farmers
and small tradesmen to obtain the small capital necessary to make
their farm or business profitable, and (b) of wage earners to make
substantial savings by purchasing for cash instead of on credit;
that, in spite of their being operated by men of practically no banking
experience, their losses have been small and their failures remarkably
few ; and that they have demonstrated that credit may he safely ex­
tended to individuals who are honest and industrious, even though
their financial standing in the community may be comparatively
unknown.
In addition to the service o f these associations in stimulating
thrift and providing necessary loans, they have also proved to be ef­
fective moral and educating agencies: moral, because no one is ad­
mitted to membership except after careful scrutiny of his honesty and
industry, thereby affording an object lesson of the value of these traits
of character; and educating, because they teach the value of saving
in small amounts and the necessity o f prompt payment of obligations.
Furthermore, the fact that the purpose for which a loan is desired


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

liii

must be stated to the credit committee exercises an important influ­
ence, for by this means improvident and thriftless borrowing is effect­
ively prevented in these institutions. In the establishment of any
agency for supplying credit to small borrowers it is important that
this element should be emphasized, for unrestricted opportunity to
obtain loans, even though security be demanded, has elements of
danger for those unaccustomed to the use of credit.
What are known in Massachusetts as “ co-operative banks,” and
elsewhere throughout the country as “ building and loan associa­
tions,” are excellent examples of the success of co-operation between
savers and borrowers in an important but limited field. Their mem­
bers are almost entirely salary and wage earners, who have joined
together for systematic saving and for the owning of their homes.
But inasmuch as all o f their loans are secured, either on real estate
or on the cash value o f their shares, there is no need for selecting the
members, no scrutiny is made of the object of loans made on the
cash value of shares, and but little interest is taken by the members
in the management o f the institution. Furthermore, they are of no
service to those who have neither real estate nor shares as security,
many o f whom undoubtedly have legitimate need for loans. The
existence of various individual and corporate loaners in every city
and in many towns of the Commonwealth is indisputable evidence
that there is a demand for loans which is not being supplied by
existing banking institutions. Although some of this borrowing may
be improvident, there can be but little doubt that much of it is the
borrowing that comes o f necessity.
In Levis, in the Province o f Quebec, where in 1901 the first
Canadian co-operative bank was established, although there were
at that time branches of three banks of discount, as well as a postal
savings bank and a branch of a mutual savings bank, three unincor­
porated loaners were also doing a thriving business. During the
seven years o f its existence the co-operative bank has accumulated
over $80,000, and has made some 2,900 loans to its members, aggre­
gating $350,000, at an average interest rate o f 6^/2 per cent., without
a single loss. The unincorporated loaners have all departed from
Levis, as the co-operative bank has taken away their field.

The results of the five voluntary associations in Massachusetts,
to which reference has already been made, have been in every way
satisfactory; and if it is considered desirable to encourage the forma-


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

liv

REPORT OF THE

[Pub. Doc.

tion of similar co-operative associations in small places or among
other favorable units of population, the experience of other countries
shows that nothing would encourage them so effectively as the ex­
istence o f a law providing for their organization under proper
restrictions, and laying down the general lines upon which their
operations should be conducted. The desirability of enacting such
a law is respectfully suggested for your consideration.

BANKING DEPARTMENT
Since the last report this department has suffered the loss of two
especially capable members.
Mr. A. M. Dorr, secretary, died of
pneumonia on January 20, 1909; and Mr. A. L. Stratton, examiner,
resigned on A pril 1 , 1908, to become treasurer of the Worcester
County Institutions for Savings of Worcester. Their places have
been filled by the appointment of Mr. Charles L. Burrill, formerly
vice-president of the American Trust Company of Boston, as sec­
retary, and Mr. John C. Ileyer, formerly collateral clerk of the
same company, as examiner.
The staff of the department is now divided into three grades, —
examiners, assistant examiners and clerks, -—- with the intention in
future, as far as may be practicable, of taking in new men as clerks
and promoting those who prove efficient to the grades of assistant
examiner and examiner. It is believed that in this way the work of
the department may be made more effective, and will be performed
by examiners of longer experience, than at present. A considerable
training is required before examiners become proficient in their
work, and they are apt to leave the department for business positions
about the time they have become thoroughly useful to it. Under the
proposed plan, those who are appointed to the department will pre­
sumably enter it younger and remain in it longer.
Since making a request through the Auditor to your Honorable
Body for a sufficient appropriation to permit an increase in the staff
o f the department? the duties o f its members have been somewhat
changed, and it is felt necessary to ask for a further increase in
the appropriation, which will enable the work of the department to
be more thoroughly done and all trust companies to be examined
twice each year.
The following table shows the names and salaries of the members


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

lv

of the department, together with the dates on which they entered its
service: —

Title

Name

Date of Appointment

Salary

Commissioner .
Deputy Commissioner

Pierre Jay .
Clarence A. Evans

April
April

25, 1906
25, 1906

$5,000
3,000

Examiner .

Gilbert K. Rand .
Harry C. Robinson
Frederick H. Payne
Frank M. Hayden
John C. Heyer

April
April
July
May
June

25.1906
25, 1906
25, 1906
28.1907
29, 1908

2.250
2.250
2.250
2.250
1,700

Charles L. Burrill .

February 11, 1909

3,000

Chief Clerk and Assist­
ant Examiner
Herbert F. Taylor
Assistant Examiner . Charles W . Levi .
Clerk
Walter S. Bosworth
U
Oreb M. Tucker .
((
Arthur B. Joslin .
u
W . Harold Otis .

June
1, 1891
October 1, 1899
August
7, 1907
November 1,1902
February 11, 1909
August 11, 1908

2,000
1,800
1,700
1,500
1,300
300

Stenographer

April

1,000

U
U
u

((

Secretary .

Miss Josaphine E. Brown

8, 1895

During August two examiners from the banicing department of
New York spent a week in Massachusetts participating in the regu­
lar examination by this department of a savings bank and a trust com­
pany; and in September the deputy commissioner, the secretary and
an examiner of this department went to New York and participated
in the regular examination by the New York banking department of
a trust company, a savings bank and a building and loan association.
The object of this interchange was to enable the examiners of each
department to study the methods of the other, and for this depart­
ment, at least, the experience proved to be a very valuable one.
Acknowledgment is hereby made, on behalf of this department, of
the courtesy o f the institutions in both States which made these joint
examinations possible.
On the following pages will be found tables showing the aggregate
statistics of savings banks since 1834 and the principal assets and
liabilities o f trust companies since 1879.
P IE R R E J A Y ,


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Bank Commissioner.

TAB LE exhibiting the Number, Condition and Progress of the Savings Banks of Massachusetts in Each Year from 1834
inclusive

1908

2.

[Returns first required by Acts 1834, Chapter 190]

Number
of
Banks

YEAR

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.

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Federal Reserve Bank of St. Louis

22

27
28
30
30
30
31
30
31
31
33
38
39
41
43
45
45
53
60
73
80
81
86
86
86

89
93
93
95
97
102
102

24,256
27,232
29,786
32,564
33,063
36,686
37,470
41,423
42,587
43,217
49,699
58,178
62,893
68,312
69,894
71,629
78,823
86,537
97,353
117,404
136,654
148,263
165,484
177,375
182,655
205,409
230,068
225,058
248,900
272,219
291,616
291,488
316,853

2,976
2,554
2,778
499
3,623
784
3,953
1,164
630
6,482
8,479
4,715
5,419
1,582
1,735
7,194
7,715
10,816
20,051
19 250
11,609
17,221
11,891
5,280
22,754
24,659
5,010f
23,842
23,319
19,397
128f
25,365

_
12.27
9.38
9.33
1.53
10.96
2.14
10.55
2.81
1.48
15.00
17.06
8 .1 0

8.62
2.32
2.48
10.04
9.79
12.50
20.60
16.40
8.50
11.62
7.19
2.98
12.46
1 2 .0 0

2.18
10.59
9.37
7.13
.04
8.70

Amount
of
Deposits

$3,407,773
3,921,370
4,374,578
4,781,426
4,869,393
5,608,159
5,819,554
6,714,182
6,900,451
6,935,547
8,261,345
9,813,288
10,680,933
11,780,813
11,970,448
12,111,554
13,660,024
15,554,089
18,401,308
23,370,102
25,936,858
27,296,217
30,373,447
33,015,757
33,9H972
39,424,419
45,054,236
44,785,439
50,403,674
56,883,828
62,557,604
59,936,482
67,732,264

Increase
in
Amount
of
Deposits
over
Previous
Year

Per­
centage
of In­
crease

_

_

$513,597
453,208400,848
87,967
738,766
211,395
894,628
186,270
35,095
1,325,798
1,551,943
867,645
1,099,880
189,635
141,106
1,548,471
1,894,065
2,847,219
4,968,794
2,566,756
1,257,359
3,077,231
2,642,310
899,215
5,509,647
5,629,817
26S,797f
5,618,235
6,480,154
5,673,775
2,621,121f
7,795,281

15.07
11.50
9.16
1.84
15.17
3.77
15.37
2.77
.51
19.12
18.79
8.84
10.30
1.61
1.18
12.79
13.87
18.31
27.00
10.98
4.85
11.27
8.69
2.72
16.25
14.28
,60f
12.54
1 2 .8 6

9.97
4,19f
13.01

Aver­
age to
Each
Ac­
count

$140
143
146
146
147
152
157
162
162
160
166
168
169
172
171
169
174
179
189
199
189
184
184
186
185
191
195
198
202

208
214
205
213

Popula­
tion of
Mas­
sachu­
setts

614,408*
-

737,609
-

994 514
1,132,369
1,232,065
-

1,267,329
-

Deposits
to
Each
Person
of
Popula­
tion
$5 58

State
Taxes
paid

_

—

-

-

-

-

7 88
13 73
24 12
35 59
47 29
-

-

$228,683
400,080
452,399
364,591
311,848

Expense
of Man­
agement

Percent­ Percent­
age of Ex­ age of Ex­
pense to pense to
Total
Total
Assets
Deposits

_

$10,968
12,066
14,413
17,504
18,329
17,204
17,952
19,248
20.777

-

-

22,6 88

27,017
29,307
3A490
36,405
37,361
41,681
43,707
49,380
59,071
63,471
77,757
89,309
102,027
105,339
107,951
112,264

.26

.27

120,886

135,783
140,713
184,739
203,348
219,257

1

- 27

.29
.33
.32

—
-

[Pub. Doc.

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Percent­
age of
In­
crease

OF TH E

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Increase
in
Number
of Ac­
counts
over
Previous
Year

R E PO R T

1834
1835
1836
1837
1838
1839
1840
1841
’ 842
1843
1844
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
1866

Number
of
Deposit
Ac­
counts

.
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.
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.
.
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.

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.
.
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.
.
.
.
.
.
.
.
.
.
.
.
.

.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
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.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

108
115
130
139
160
172
175
179
180
180
179
168
166
164
165
166
168
168
171
172
173
176
177
179
180
184
185
185
187
187
187
185
186
186
186
186
187
188
189
189
189
189

348,593
383.094
431,769
488,797
561,201
630,246
666,229
702,099
720,639
739,289
739,757
674,251
675,555
706,395
738,951
772,518
806,010
826,008
848,787
906,039
944,778
983,202
1,029,694
1,083,817
1,131,203
1,189,936
1,214493
1,247,090
1,302,479
1,340,668
1,384329
1,406,722
1,477,447
1,535,009
1,593,640
1,660,814
1,723,015
1,766,614
1,829,487
1,908,378
1,971,644
1,973,926

31,740
34501
48,675
57,028
72,404
69,045
35,983
35,870
18,540
18,650
468
65,506t
1,304
30,840
32,556
33,567
33,492
19,998
22,779
57,252
38,739
38,424
46,492
54,123
47,386
58,733
24,557
32,597
55,389
38,189
43,661
22,393
70,725
57,562
58,631
67,174
62,201
43,599
62,873
78,891
63,266
2,282

* In 1830.

1 0 .0 2

9.90
12.71
13.21
14.81
12.30
5.71
5.38
2.64
2.59
.06
8 .8 6

.19
4.56
4.61
4.54
4.34
2.48
2.76
6.75
4.28
4.07
4.73
5.27
4.37
5.19
2.06
2 .6 8

4.44
2.93
3.26
1.62
5.03
3.90
3.82
4.22
3.75
2.53
3.56
4.31
3.32
.1 2

80,431,583
94,838,336
112,119,016
135,745,097
163,704,077
184:797,313
202,195,343
217,452,120
237.848,963
243,340,642
244,596,614
209,860,631
206,378,709
218,047,922
230,444,479
241,311,362
252,607,593
262,720,146
274,998,412
291,197,900
302,948,624
315,185,070
332,723,688
353,592,937
369,526,385
393,019,862
399,995,569
416,778,017
439,269,861
453,220,257
473,919,094
488,642,923
518,202,048
540,403,686
560,705,752
586,937,084
608,415,409
631,313,800
662,808,312
694,081,141
706,940,596
709,519,730

12,699,319
14,406,752
17,280,680
23,626,080
27,958,980
21,093,236
17,398,029
15,256,777
20.396.842
5,491,679
1,255,971
34,735,983t
3,481,921t
11,669,212
12,396,556
10,866,883
11.296,230
10,112,553
12,278,265
16,199,488
11,750,723
12.236.446
17,538,618
20,869,248
15,933,448
23,493,476
6,975,707
16.782.447
22.491.843
13,950,396
20,698,837
14,723,829
29,559,124
22,201,637
20,302,066
26,231,331
21,478,325
22,898,390
31,494,512
31,272,828
12,859,455
2,579,134

18.75
17.91
18.22
21.07
20.60
12.89
9.41
7.55
9.38
2.31
.52
14.20t
1 .6 6 t
5.65
5.69
4.72
4.68
4.00
4.67
5.89
4.04
4.04
5.57
6.27
4.51
6.36
1.77
4.19
5.40
3.18
4.57
3.11
6.05
4.28
3.76
4.68
3.66
3.76
4.99
4.72
1.85
.36

230
247
259
277
291
293
303
309
330
329
330
311
305
308
311
312
313
318
323
321
320
320
323
326
326
330
329
334
337
338
342
347
350
352
351
353
353
357
362
363
359
359

-

-

-

-

-

.1457,352
-

93 14
-

1,651,652

144 00

-

-

-

-

1,783,086

122 29

-

-

-

-

-

-

1,941,465

141 64

—

-

-

2,238,943

-

157 92

-

-

2,500,183

175 69

-

-

-

2,805,346

192 63

—

-

-

-

—
-

-

-

3,003,680

220 67

-

-

-

—
t Decrease.

361,889
570,065
771,998
927,254
1,097,332
1,329,709
1 454,719
1,5.50,500
1,707,088
1,802,127
1,814,623
1,646,155
1,500,851
1,513,138
1,602,238
935,274
1,090,286
789,686
815,930
861,373
898,634
924,555
957,335
1,013,060
1,053,606
1,094,905
1,143,200
1,138,128
1,191,589
1,240,469
1,249,531
1,275,640
1,330,163
1,410,115
1,472,349
1,535,960
1,604,300
1,658,765
1,751,481
1,854,131
1,897,693
1,878,149

254 225 !
297,527 i
339,271
375,734
429,080
469,681
547,518
644682
661,503
657,858
671,728
606,550
590,820
581,274
617,672
619,829
650,247
658,690
674,561
698,087
747,295
783,158
827,619
850,978
882,787
936,829
1,010,639
1,028,838
1,080,611
1,134,581
1,162,136
1,202,708
1,233,166
1,283,289
1,333,523
1,374,564
1,447,237
1,546,904
1,583,889
1,648,061
1,789,485
1,897,169

qi
-31
.30
.27
.26
.25
.26
.29
.277
.27
.275
.289
.286
.271
.268
.257
.257
.257
.245
.239
.247
.248
.249
.241
.239
.238
.252
.246
.246
.250
.245
.246
.238
.237
.238
.234
.238
.245
.239
.237
253
.267

-

.264
.269
.280
.277
.257
.259
.247
.247
.240
.235
.229
.235
.236
.236
.228
.226
.225
.238
.233
.232
.235
.231
.231
.224
.223
.224
.2 2 0
.2 2 2

.229
.224
.2 2 2

.236
.249

BANK COMMISSIONER

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No. 8]

1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908

REPORT OF THE

lviii

[Pub. Doc,

Principal Assets and Liabilities o f Boston

Year

United
Other
Other
Loans on Demand
Time
No. States
and Stocks
Real Es­ Loans with Demand Loans with
of Massachu­
tate
C
ollateral
Loans
C
ollateral
and
Bonds
Cos. setts Bonds

1879

2

$1,591,707

$309,462

1880

3

1,402,381

453,050

1881

4

1,238,157

1882

4

1,221,462

1883

4

1884

4

1885

$175,500 $1,106,223

$113,000 $2,848,031
80,000

Other
Time
Loans

Banking
House

Due from
Reserve
Banks

$287,000

-

$742,590

684,114

-

2,375,901

162,500

1,375,050

1,203,749

159,800

1,487,750

1,435,529

4,506,777

2,478,710

-

1,968,614

1,783,199

132,400

901,351

1,230,216

3,087,998

4,611,502

-

2,298,420

1,373,194

1,556,868

111,100

1,268,433

1,434,220

3,915,637

7,753,752

-

3,094,105

1,322,850

1,558,254

93,178

1,295,252

2,477,091

2,900,508

8,433,165

-

3,365,117

4

2,472,302

1,490,954

206,178

2,596,682

2,700,705

3,763,793

6,732,551

-

4,784,298

1886

4

1,990,500

2,149,670

183,678

2,629,817

3,002,291

4,894,428

6,566,617

-

3,626,533

1887

7

1,900,000

3,079,363

395,528

2,509,850

2,518,358

4,238,035

9,622,365

-

3,633,980

1888

7

1,785,000

4,475,848

267,498

1,946,597

3,582,244

2,981,927 13,319,889

-

6,480,387

1889

7

1,135,000

4,433,734

356,287

4,194,989

2,199,100

6,412,756

9,899,013

$216,327

8,383,776

1890

9

960,000

4,047,208

414,734

7,385,910

-*

16,296,990

6,600,300

216,327

4,949,284

1891

9

1,003,596

4,848,483

522,000

9,047,513

_*

19,218,852

3,840,500

216,327

6,470,414

1892

10

2,299,985

6,472,711

838,175

9,197,368

_*

21,990,117

4,895,610

295,927

7,723,407

15,333,372

7,015,752

458,350 11,258,657

3,894,905

1893

11

1,128,977

6,798,028

853,513

7,521,211

_*

1894

11

3,431,733

6,093,235

1,417,551

6,491,921

_*

18,909,448 10,887,543

500,000 16,228,975

1895

15

3,446,798

6,074,975

1,808,725

9,895,693

_*

20,772,033 13,699,181

500,000 12,617,621

1896

14

3,569,778

7,167,819

1,559,350

7,461,738

-*

19,004,475 11,462,551

500,000

1897

14

3,481,202 11,264,994

1,979,966

8,719,036

_*

23,366,712 13,081,346

650,000 15,974,023

1898

14

2,092,089 16,523,687

2,432,685 10,008,694

_*

1899

16

1,928,044 17,584,573

2,014,851 17,336,749

1900

16

1,059,000 17,375,051

2,457,391 14,015,601

1901

16

505,000 18,643,195

_*

9,049,453

27,509,344 14,275,813

650,000 20,915,766

33,403,284 14,433,141

926,442 19,594,697

29,264,749 18,993,352

3,224,297 17,346,362 15,266,312 39,455,209

6,575,655

916,396 17,943,157
1,575,969 18,373,094

1902

18

50,000 22,905,331

3,677,631 22,017,398

7,924,578 40,543,057 12,661,173

2,005,084 23,380,113

1903

19

50,000 25,903,398

4,034,633 23,508,361

7,651,269 33,045,418 16,065,936

2,182,300 21,808,261

1904

20

52,117 27,499,732

3,244,527

1905

20

54,282 30,371,305

4,289,607 30,605,282

_*

35,555,336

-*

57,349,971

3,344,872 23,957,133

3,388,076 39,765,501 34,965,688

3,623,440 21,580,601
4,280,158 20,011,595

1906

20

5,258,364 27,211,836

4,153,051 30,754,264

3,446,332 36,049,632 38,842,351

1907

22

3,942,131 25,615,500

3,845,199 22,364,441

2,831,038 33,546,742 38,518,613

4,423,706 21,811,831

1908

23

4,217,762 27,199,245

3,008,790 26,507,050

4,283,257 35,548,782 49,531,224

5,876,438 31,445,972

* The forms upon which the annual reports for these years were rendered did not show these
items separately.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

lix

Trust Companies from 1 8 7 9 to 1 9 0 8 inclusive

Due from Currency
Other
and
Banks
Specie

Other
Assets

Total
Assets and
Liabilities

Capital
Stock

Surplusand
Undivided
Earnings
less Exp.,
Int. and
Taxes

Deposits
Demand

Deposits
Time

Other
Liabili­
ties

Year

1879

-

$74,131

$47,247

$7,294,891

$900,000

$245,717

$6,126,857

-

$22,317

-

35,198

57,260

10,520,359

1,037,200

342,213

8,839,595

-

301,351

1880

-

33,729

49,007

14,561,822

2 ,200,000

432,319

11,197,359

-

732,144

1881

-

77,999

35,254

15,379,801

2,400,000

563,694

12,089,552

-

326,555

1882

$989

95,779

43,370

20,647,447

2,400,000

762,978

17,406,224

$49,393

28,852

1883

-

159,429

58,474

21,663,318

2,600,000

968,468

17,957,617

-

137,233

1884

-

172,634

20,600

24,940,697

2,600,000

1,018,770

21,218,367

-

103,560

1885

-

227,049

50

25,270,633

2,701,500

1,294,118

21,108,443

T

166,572

1886

-

382,157

2,982

28,282,618

3,900,000

1,783,668

21,254,460

-

1,344,490

1887

-

346,442

41,725

35,227,557

3,900,000

2,122,446

28,174,880

-

1,030,231

1888

-

422,746

48,242

37,701,970

3,900,000

2,483,238

30,124,146

-

1,194,586

1889

-

724,488

68,720

41,663,961

5,550,000

3,714,415

31,790,357

-

609,189

1890

-

1,314,518

94,901

46,577,104

6,250,000

4,334,342

35,148,231

-

844,531

1891

-

1,273,096

95,824

55,082,220

6,850,000

4,693,946

42,557,168

-

981,106

1892

-

1,982,708

87,143

52,437,711

7,050,000

5,151,159

39,349,658

-

886,894

1893

-

1,613,903

136,600

65,710,909

7,050,000

5,308,265

52,391,564

-

961,080

1894

-

2,028,279

117,377

70,960,682

7,650,000

5,711,725

56,897,697

-

701,260

1895

-

2,371,934

108,805

62,255,903

7,650,000

6,245,893

47,304,135

-

1,055,875

1896

-

2,162,726

80,946

80,760,951

7,850,000

6,456,844

64,978,179

-

1,475,928

1897

2,947,165

75,985

97,441,527

7,850,000

7,421,295

80,540,785

-

1,629,447

1898

-

3,108,544

76,757 110,407,082

8,450,000

8,847,220

91,262,818

-

1,847,044

1899

-

2,965,973

75,554 105,066,224

8,450,000

10,181,302

84,647,563

-

1,787,359

1900

-

3,862,512

76,846 124,904,451

8,750,000

12,198,959

101,394,048

-

2,561,444

1901

-

4,161,410

166,709 139,492,484

11 ,100,000

15,651,855

109,974,337

-

2,766,292

1902

10,299

-

4,380,790

179,247 138,809,613

12 ,100,000

18,673,134

106,526,390

-

1,510,089

1903

4,676,774

6,491,685

1,391,476 163,563,623

12,501,000

19,821,033

126,730,504

2,803,298

1,707,788

1904

2,754,490

8,133,129

1,582,324 181,113,725

12,501,000

20,756,530

143,238,007

2,311,815

2,306,373

1905

4,313,847

7,569,665

4,267,513 186,158,608

11 ,102,000

22,907,635

145,690,660

4,383,635

2,074,678

1906

2,381,653

9,012,924

5,219,294 173,513,072

11,552,000

23,700,281

132,839,193

2,704,150

2,717,448

1907

6,857,742

8,636,302

2,103,923 205,216,487

11,752,000

24,463,568

162,357,267

4,108,580

2,535,072

1908


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

[Pub. Doc,

R E PO R T OF TH E

lx

Principal Assets and Liabilities of Outside
Other
Time
Other
Loans on Demand
No. United
and Stocks
Real Es­ Loans with Demand Loans with
Year of States
M
assachu­
C
ollateral
Loans
tate
Collateral
Cos. setts Bonds and Bonds

Other
Time
Loans

Banking
House

Due from
Reserve
Banks

1879

1

$276,000

$192,400

$76,900

$15,525

-

-

$629,771

$33,000

$112,281

1880

1

207,200

190,400

33,400

26,100

-

-

834,133

33,000

192,575

1881

1

2,050

185,400

23,700

170,339

-

-

1,144,354

33,000

131,533

1882

1

8,750

185,400

21,400

20,500

-

-

1,338,605

33,000

177,894

1883

1

11,350

235,400

2 1,200

2 0,000

-

-

1,276,817

33,000

242,790

1884

1

17,350

235,400

20,400

19,289

-

-

1,311,859

33,000

99,918

1885

1

40,150

235,400

17,000

6,600

-

-

1,367,644

33,000

234,301

19,283

1886

2

235,400

45,200

1887

2

30,000

217,400

46,550

-

1888

5

65,500

295,410

34,625

3,000

-

-

$32,708
59,990

$18,650

2,013,963

33,000

256,321

30,250

2,311,436

33,000

295,129

3,159,682

73,000

348,064
398,877

-

1889

5

70,500

372,383

70,755

187,523

-

416,105

3,704,857

73,000

1890

5

90,500

343,472

94,690

234,192

_*

459,153

3,951,619

85,000

566,066

1891

8

138,500

373,414

167,608

586,969

683,404

4,984,212

95,159

948,524
1,092,252
1,058,794

182,425

841,788

353,465

613,028

858,884

6,382,561

112,526

1893

11

238,150

761,572

405,252

792,567

1,076,612

4,929,310

152,590

1894

13

352,200

909,785

545,490

1,124,973

1,408,729

6,561,179

177,653

1,404,608

8,002,973

177,653

1,625,121
1,240,921

1892

9

_ *

1895

16

512,075

1,042,163

678,694

1,196,758

1,431,858

1896

17

568,467

1,273,739

656,821

960,701

1,529,867

6,956,860

177,653

1,074,676

2,156,506

8,261,894

214,742

1,558,704

2,414,822

8,148,855

229,076

1,812,437

2,396,592

7,929,210

228,036

1,488,441

2,373,744

7,983,339

230,243

1,788,380

2,594,429

4,465,337

238,354

2,180,461

1897

19

592,006

1,580,583

746,051

1898

20

276,000

2,374,768

874,196

1,230,553

1899

20

127,650

3,231,804

989,547

2,548,351

1900

19

1,200

3,147,969

1,102,488

2,746,525

1901

19

500

3,598,081

1,080,186

2,974,381

-H i

4,151,863

1902

19

500

3,764,115

1,406,437

3,077,989

4,440,134

3,053,226

4,885,467

225,786

2,388,690

1903

22

550

5,079,236

1,469,613

3,355,965

5,035,629

5,404,333

6,026,213

209,807

3,096,701

1904

21

550

5,465,093

1,587,797

16,839,386

211,987

3,275,129

1905

24

550

6,237,103

1,859,519

4,219,125

1,132,519

5,998,677 16,706,724

232,564

3,664,115

1906

26

1,400,662

5,354,057

2,471,839

4,125,006

1,553,502

6,707,920 20,652,925

377,210

5,146,417

1907

28

1,495,744

5,738,084

2,715,415

3,942,230

1,550,378

6,455,418 22,610,085

452,340

4,104,990

560,033

5,362,889

1908

29

1,462,959

6,598,096

2,959,476

_*

4,110,548

5,198,621

1,575,418

-H :

8,098,636 23,492,503

* The forms upon which the annual reports for these years were rendered did not show these
items separately.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

(

lxi

BANK COMMISSIONER

No. 8 ]

Trust Companies from 1 8 7 9 to 1 9 0 8 inclusive

Due from Currency
Other
and
Specie
Banks

$80,388

-

Surplus and
Undivided
Earnings
less Exp.,
Int. and
Taxes

Other
Assets

Total
Assets and
Liabilities

Capital
Stock

$57,692

$1,473,957

$200,000

$34,547

Other
Liabili­
ties

Deposits
Demand

Deposits
Time

$1,236,476

-

$2,934

1879
1880

Year

-

99,726

41,539

1,658,073

200 ,00 0

32,841

1,422,175

-

3,057

-

104,550

18,817

1,813,743

200,000

38,616

1,574,896

-

231

1881

-

122,515

17,604

1,925,668

200 ,00 0

38,360

1,686,837

-

471

1882
1883

-

94,755

17,738

1,953,050

200,000

68,398

1,684,619

-

33

-

121,651

19,262

1,878,129

200 ,00 0

96,367

1,581,729

-

33

-

117,114

23,114

2,074,323

200,000

99,077

1,775,246

-

$8,554

162,225

55,781

2,848,377

400,000

110,053

2,338,294

-

30

1886

30,345

157,502

64,354

3,248,674

500,000

161,143

2,587,516

-

15

1887

32,473

199,580

100,928

4,372,252

800,000

192,006

3,376,896

-

3,350

1888

29,770

241,465

92,335

5,657,570

900,000

225,416

4,528,854

-

3,300

1889

1884
1885

-

850

279,776

87,273

6,192,591

1 ,0 00 ,00 0

265,438

4,923,493

-

3,660

1890

14,495

287,957

120,155

8,400,397

1,525,000

320,685

6,550,932

-

3,780

1891

8,664

382,958

157,078

10,985,629

1,625,000

412,917

8,940,960

-

6,752

1892

6,215

475,194

227,594

10,123,850

2,025,000

538,571

7,535,068

-

25,211

1893

10,310

471,183

266,958

13,233,068

2,225,000

567,435

10,434,626

-

6,007

1894

2,420

661,083

264,798

15,595,596

2,725,000

663,012

12,199,082

-

8,502

1895

11,246

803,354

302,127

14,481,756

2,825,000

813,752

10,710,282

-

132,722

1896

36,625

531,420

368,578

17,121,785

3,025,000

899,934

13,114,050

-

82,801

1897

55,708

712,527

350,583

18,479,525

3,025,000

929,560

14,504,164

-

20,801

1898

55,593

738,023

338,256

20,071,503

3,025,000

983,535

16,045,987

-

16,981

1899

16,405,115

-

19,379

1900

6,320

774,201

339,240

20,493,649

2,925,000

1,144,155

14,331

889,073

366,768

22,553,764

3,125,000

1,310,769

18,079,925

-

38,070

1901

-

20,730

1902

-

20,270

760,475

354,196

24,377,285

3,125,000

1,527,263

19,704,292

15,695

1,193,116

356,043

31,242,901

3,925,000

2,249,151

24,950,195

118,555

1903

3,975,000

2,688,177

25,345,013 $3,269,825

100,760

1904
1905

761,349

1,520,806

518,057

35,378,775

291,568

1,734,036

669,102

42,745,602

4,575,000

3,025,856

31,205,953

3,767,280

171,513

3,981,627

37,610,394

4,396,650

140,054

1906

2,237,917

1,001,263

51,453,725

5,325,000

257,010

2,621,267

1,074,521

53,017,482

5,675,000

4,531,714

37,319,359

5,078,415

412,994

1907

456,142

2,223,351

793,537

57,691,588

5,977,200

4,749,877

40,947,739

5,923,521

93,251

1908

425,007


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

lxii

REPORT OF THE

[Pub. Doc,

Principal Assets and Liabilities o f Total
No. United
Other
Loans on Demand
Other
Time
and
Year of States
Real Es­ Loans with Demand Loans with
Massachu­ Stocks
Cos. setts
and
Bonds
tate
Collateral
Loans
Collateral
Bonds

1879

3 $1,867,707

1880

4

$501,862

1,609,581

643,450

$252,400 $1,121,748
195,900

1,401,150

$113,000 $2,848,031
80,000

3,894,905

Other
Time
Loans

Banking
House

$916,771

$33,000

$854,871

1,518,247

33,000

2,568,476

Due from
Reserve
Banks

1881

5

1,240,207

1,389,149

183,500

1,658,089

1,435,529

4,506,777

3,623,064

33,000

2,100,147

1882

5

1,230,212

1,968,599

153,800

921,851

1,230,216

3,087,998

5,950,107

33,000

2,476,314

1883

5

1,384,544

1,792,268

132,300

1,288,433

1,434,220

3,915,637

9,030,569

33,000

3,336,895

1884

5

1,340,200

1,793,654

113,578

1,314,541

2,477,091

2,900,508

9,745,024

33,000

3,465,035
5,018,599

1885

5

2,512,452

1,726,354

223,178

2,603,282

2,700,705

3,763,793

8,100,195

33,000

1886

6

1,990,500

2,385,070

228,878

2,649,100

3,002,291

4,913,078

8,580,580

33,000

3,882,854

1887

9

1,930,000

3,296,763

442,078

2,509,850

2,551,066

4,268,285 11,933,801

33,000

3,929,109

1888

12

1,850,500

4,771,258

302,123

1,949,597

3,642,234

2,981,927 16,479,571

73,000

6,828,451

1889

12

1,205,500

4,806,117

427,042

4,382,512

2,199,100

6,828,861 13,603,870

289,327

8,782,653

1890

14

1,050,500

4,390,680

509,424

7,620,102

_*

16,756,143 10,551,919

301,327

5,515,350

9,634,482

-*

19,902.256

311,486

7,418,938
8,815,659

1891

17

1,142,096 5,221,897

689,608

8,824,712

1892

19

2,482,410

7,314,499

1,191,640

9,810,396

22,849,001 11,278,171

408,453

1893

22

1,367,127

7,559,600

1,258,765

8,313,778

16,409,984 11,945,062

610,940 12,317,451

1894

24

3,783,933

7,003,020

1,963,041

7,616,894

1895

31

3,958,873

7,117,138

2,487,419 11,092,451

1896

31

4,138,245

8,441,558

2,216,171

8,422,439

1897

33

4,073,208 12,845,577

2,726,017

9,793,712

_*
-*

1898

34

2,368,089 18,898,455

3,306,881 11,239,247

1899

36

2,055,694 20,816,377

3,004,398 19,885,100

1900

35

1,060,200 20,523,020

3,559,879 16,762,126

1901

35

505,500 22,241,276

1902

_*

_*

20,318,177 17,448,722

677,653 17,633,583

22,203,891 21,702,154

677,653 14,242,742

20,534,342 18,419,411

677,653 10,290,374

25,523,218 21,343,240

864,742 17,532,727

29,924,166 22,424,668

879,076 22,728,203

35,799,876 22,362,351

1,154,478 21,083,138

31,638,493 26,976,691

1,146,639 19,731,537

4,304,483 20,320,743 19,418,175 42,049,638 11,040,992

1,814,323 20,553,555

37

50,500 26,669,446 5,084,068 25,095,387 12,364,712 43,596,283 17,546,640

2,230,870 25,768,803

1903

41

50,550 30,982,634

5,504,246 26,864,326 12,686,898 38,449,751 22,092,149

2,392,107 24,904,962

1904

41

52,667 32,964,825

4,832,324

74,189,357

3,556,859 27,232,262
3,856,004 25,244,716

40,753,957

1905

44

54,832 36,608,408

6,149,126 34,824,407

4,520,595 45,764,178 51,672,412

1906

46

6,659,026 32,565,893

6,624,890 34,879,270

4,999,834 42,757,552 59,495,276

4,657,368 25,158,012

1907

50

5,437,875 31,353,584

6,560,614 26,306,671

4,381,416 40,002,160 61,128,698

4,876,046 25,916,821

1908

52

5,680,721 33,795,341

5,968,266 30,617,598

5,858,675 43,647,418 73,023,727

6,436,471 36,808,861

* The forms upon which the annual reports for these years were rendered did not show these
items separately.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

lxiii

BANK COMMISSIONER

No. 8]

Trust Companies from 1 8 7 9 to 1 9 0 8 inclusive

Due from Currency
and
Other
Specie
Banks

$154,519

-

134,924

-

Surplus and
Undivided
Earnings
less Exp.,
Int. and
Taxes

Other
Liabili­
ties

Other
Assets

Total
Assets and
Liabilities

Capital
Stock

$104,939

$8,768,848

$1 ,100,000

$280,264

$7,363,333

-

$25,251

12,178,432

1,237,200

375,054

10,261,770

-

304,408

1880

470,935

12,772,255

1881
1882

98,799

Deposits
Demand

Deposits
Time

Year

1879

-

138,279

67,824

16,375,565

2,400,000

-

732,375

-

200,514

52,858

17,305,469

2,600,000

602,054

13,776,389

-

327,026

2,600,000

831,376

19,090,843

$49,393

28,885

1883

19,539,346

-

137,266

1884

-

103,560

1885
1886

$989

190,534

61,108

22,600,497

-

281,080

77,736

23,541,447

2,800,000

1,064,835

-

289,748

43,714

27,015,020

2,800,000

1,117,847

22,993,613

3,101,500

1,404,171

23,446,737

-

166,602

23,841,976

-

1,344,505

1887

-

1,033,581

1888
1889

8,554

389,274

55,831

28,119,010

30,345

539,659

67,336

31,531,292

4,400,000

1,944,811

32,473

546,022

142,653

39,599,809

4,700,000

2,314,452

31,551,776

4,800,000

2,708,654

34,653,000

-

1,197,886

6,550,000

3,979,853

36,713,850

-

612,849

1890

7,775,000

4,655,027

41,699,163

-

848,311

1891

8,475,000

5,106,863

51,498,128

-

987,858

1892

46,884,726

-

912,105

1893

29,770
850
14,495
8,664

664,211
1,004,264
1,602,475
1,656,054

140,577
155,993
215,056
252,902

43,359,540
47,856,552
54,977,501
66,067,849

6,215

2,457,902

314,737

62,561,561

9,075,000

5,689,730

10,310

2,085,086

403,558

78,943,977

9,275,000

5,875,700

62,826,190

-

967,087

1894

86,556,278

10,375,000

6,374,737

69,096,779

-

709,762

1895

76,737,659

10,475,000

7,059,645

58,014,417

-

1,188,597

1896

97,882,736

10,875,000

7,356,778

78,092,229

-

1,558,729

1897

8,350,855

95,044,949

-

1,650,248

1898
1899

2,420
11,246
36,625

2,689,362
3,175,288
2,694,146

382,175
410,932
449,524

66,007

3,659,692

426,568 115,921,052

10,875,000

55,593

3,846,567

415,013 130,478,585

11,475,000

9,830,755

107,308,805

-

1,864,025

414,794 125,559,873

11,375,000

11,325,457

101,052,678

-

1,806,738

1900

13,509,728

119,473,973

-

2,599,514

1901

6,320

3,740,174

14,331

4,751,585

443,614 147,458,215

11,875,000

20,270

4,921,885

520,905 163,869,769

14,225,000

17,179,118

129,678,629

-

2,787,022

1902

5,573,906

535,290 170,052,514

16,025,000

20,922,285

131,476,585

-

1,628,644

1903

8,012,491

1,909,533 198,942,398

16,476,000

22,509,210

152,075,517

6,073,123 1,808,548

1904

9,867,165

2,251,426 223,859,327

17,076,000

23,782,386

174,443,960

6,079,095 2,477,886

1905

9,807,582

5,268,776 237,612,333

16,427,000

26,889,262

183,301,054 8,780,285 2,214,732

1906

2,638,663 11,634,191

6,293,815 226,530,554

17,227,000

28,231,995

170,158,552

7,782,565 3,130,442

1907

7,313,884 10,859,653

2,897,460 262,908,075

17,729,200

29,213,445

203,305,036 10,032,101 2,628,323

1908

15,695
5,438,123
3,046,058
4,738,854


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Federal Reserve Bank of St. Louis


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ABSTRACT OF ANNU AL REPORTS
OF THE

Sayings Banks and Institutions
for Sayings ,
S H O W IN G T H E IK

CON DITION A T TH E CLOSE OF BUSINESS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

O ctober 31, 1908.

2

R E PO R T OF THE

[Pub. Doc

ABINGTON SAVINGS BANK, ABINGTON
P r e s id e n t,

J o s e p h L. G r e e n w o o d

T rea su rer,

C le r k o f the C o r p o r a ti o n ,

G e o r g e A. B e a l

G e o r g e A. B e a l

B o a r d o f I n v e s t m e n t : C a l v i n L. B a k e r , W il l i a m J. C o u g h l a n , J o s e p h L.
C. M o r t o n P a c k a r d , J o h n W . S p r o u l , W i l l i a m V a n c e

G reenw ood,

Incorporated March 17, 1853. Open for business every business day, except Saturdays,
9 a .m . to 12 m ., 1 to 4 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first Tuesday of January, April, July and October
Dividends are payable the first Tuesday of April and October
B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
.
.
.
$167,675
Railroad bonds .
.
.
.
412,175
Street railway bonds .
.
.
14,400
Boston Terminal Company bonds .
4,950
Telephone company bonds .
.
35,200
Bank and trust company stocks
. 58,686
Loans to counties, cities or towns . 162,500
“
on depositors’ books .
.
235
“
“ real estate
.
.
.1,290,688
“
“ personal security
.
. 422,583
Bank building and fixtures
.
. 31,000
Real estate by foreclosure, etc.
.
2,639
Taxes, insurance, etc., paid on
mortgaged properties
.
.
209
Deposits in banks, on interest
. 83,648
Cash on hand
.
.
.
.
3,561

00
00
00
00
00
00
00
00
43
16
00
12

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.$2,494,637 96
.

Interest, rents, etc.

$12,212 82

L e ss current

Expenses .

.

742 96

of

Sh.s.
100
26
60
100
100
38
45
50
47
23
40
32
2

86

$2,690,151 64

Estimated
Market Value

Par Value

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

11,469

80
43
70

$2,690,151 64

Schedule

126,250 00
57,793 82

.
.
.

legal
.

$139,000
384,000
15,000
5,000
40,000
162,500

00
00
00
00
00
00

$138,020
353,315
14,925
4,900
36,150
162,712

00
00
00
00
00
50

Book Value
$138,875
375,675
14,400
4,950
35,200
162,500

00
00
00
00
00
00

67,000 00

63,310 00

65,300 00

$812,500 00

$773,332 50

$796,900 00

B a n k a n d T r u s t C o m p a n y S to ck s

Abington National Bank, Abington .
First National Bank, Adams
First National Bank, Boston
Merchants National Bank, Boston
Metropolitan National Bank, Boston .
Mount Vernon National Bank, Boston
N ’l Bank of the Republic, Boston
Second National Bank, Boston
State National Bank, Boston
Webster & Atlas N ’l Bank, Boston
Brockton National Bank, Brockton .
Old Colony N ’l Bank, Plymouth
First National Bank, Rockland


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$10,000
2,600
6,000
10,000
10,000
3,211

00
00
00
00
00
00

5,000
4,700
2,300
4,000
3,200

00
00
00
00
00

$61,011 00

$10,000
2,990
18,840
21,700
12,000
836
2,250
10,750
6,815
3,335
5,200
3,584
10

00
00
00
00
00
00
00
00
00
00
00
00
00

$98,310 00

$10,000
2,600
6,000
10,000
10,000
886

00
00
00
00
00
00

5,000
4,700
2,300
4,000
3,200

00
00
00
00
00

$58,686 00

3

BANK COMMISSIONER

No. 8]

Abington Savings Bank — Concluded
T otal A m ount

of

L oans

on

4 per cent.
4i “
“
44 “
“
4| “
“
5* “
“
Si “
“
6
“
6f “
“
(<

•
.
.
.

Totals

.
813,909 56
92,553 00
271,600 87
.

.

Average rate

and

W

00
00
00
00
16
00
00

ate of

Interest

Other Loans

Total Loans

$15,000 00
8,000 00
49,500 00

$15,000
8,000
228,625
10,000
992,949
187,303
379,129
25.000
30.000

90,000 00
235 00

00
00
00
00
56
00
03
00
00

$422,583 16

$162,735 00

$1,876,006 59

5 .2 0 per cent.

5 .5 2 per cent.

4 .7 2 per cent.

5 .2 3 per cent.

Salaries
$4,027 01
. 1497 of 1 %

Amount paid for
% of total assets

E a c h S p e c if ie d R

$1,290,688 43

T otal E xpen ses

D e p o s it s

$66,500
10,000
89,040
94,750
107,293
25.000
30.000

$112,625 00

.
.

U

b e a r in g

Loans on Personal
Security

Loans on Real
Estate

Rate

•J

O c t . 31, 1908,

for

Y

i t h d r a w a l s d u r in g

Amount of deposits .
Number of same
Amount of withdrawals
Number of same
Net increase in deposits

.

e a r , e x c l u s iv e

Rent
$541 67
. 0201 of 1 %
Y

of

St a t e T a x e s

Advertising
$19 55
. 0007 of 1 %

ear

Other Expenses
$713 35
. 0265 of 1 %

B a n k B u il d in g

and

Total
$5,301 58
. 1970 of 1 %

F ix t u r e s

$31,000
35,000
39,600
30

. $254,144 54
2,285
. $330,204 28
3,633
. $19,963 31

Book value
Estimated value
Assessed value .
Net income

Y

Number opened during year
Number closed
“
“
Total number Oct. 31, 1908 .
Average balance
“
“

00
00
00
02

D e p o s it A c c o u n t s
D iv i d e n d s

d e c l a r e d d u r in g

April, 1908, 2 %
Oct., 1908, 2 %
Ca s h

on

ear

. $47,833 82
. 48,189 23 $96,023 05

D e p o s it

in

B anks

Abington N ’l Bank, Abington
First National Bank, Boston

. $15,483 45
.
68,164 98

M is c e l l a n e o u s

Number of corporators, 49; trustees, 17
Gross income rec’d during year . $124,696 18
State tax (net) paid “
“
.
5 ,5 5 2 0 2
D ate

of

417
402
5,004
$498 52

S t a t is t ic s

of

L oans

585
No. not exceeding $3,000 each
$728,452 43
Amount of same
621
No. of loans on real estate .
$2,078 40
Average amount of same
Amount loaned on real estate
$127,529 35
during year
No. of new real estate loans
37
made during year

E x a m i n a t i o n , May 1

AMHERST SAVINGS BANK, AMHERST
P r e sid e n t,

E. F. C o o k
C l e r k o f the C o r p o r a ti o n ,

B o a rd of In v e stm e n t:

T reasu rer,

E. D. B a n g s

G eorge Cu tler

E. F. C o o k , D. W . P a l m e r , W m . E. B r id g m a n , G. S. K

e n d r ic k

Incorporated April 5, 1864. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July


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Federal Reserve Bank of St. Louis

4

R E PO R T OF THE

[Pub. Doc

Amherst Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
. $168,875
Railroad bonds .
. 572,400
Street railway bonds
. 125,000
Boston Terminal Company bonds . 1 1 0 , 0 0 0
Bank and trust company stocks . 117,003
41,700
Loans to counties, cities or towns .
“
“ railroad companies
.
99,625
“
on railroad stocks
100
“
“ bank and trust co. stocks
1,516
600
“
“ depositors’ books .
“
“ real estate
.1,927,972
“
“ personal security
. 509,706
.
15,000
Bank building and fixtures .
Real estate by foreclosure, etc.
.
23,875
Deposits in banks, on interest
.
24,607
“
“
“
not on interest
5,000
Cash on hand
405
Checks and cash items
4,187

00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

.

33
00
00
00
00
00

Interest, rents, etc.

op

173,096 56
46,886 14
74,085 91

72
00
00
68

28
00

46
50

$3,747,573 97

Schedule

.$3,453,505 36

Securities Owned

Public funds .
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.

$3,747,573 97

Par Value
$169,000
580,000
125,000
110,000
41,700
50,000

00
00
00
00
00
00

50,000 00

Estimated
Market Value
$174,332
563,895
129,000
107,800
41,700
50,000

50
00
00
00
00
00

50,000 00

Book Value
$168,875
572,400
125,000
110,000
41,700
49,625

00
00
00
00
00
00

50,000 00

$1,125,000 00 $1,116,727 50 $1,117,600 00
Shs.
100
34
80
4
4
23
28
47
56
100
100
30
67
78
78
15
60
117
38
115
28
8
20
6

B a n k a n d T r u st C o m p a n y S tock s

First National Bank, Amherst .
Barre National Bank, Barre
N ’l Bank of the Republic, Boston
Second National Bank, Boston
State National Bank, Boston
Conway National Bank, Conway
City National Bank, Danbury, Ct.
First National Bank, Easthampton .
Franklin County N ’l B ’k, Greenfield .
Citv National Bank, Holyoke .
Holyoke National Bank, Holyoke
N ’l Bank of Com., New London, Ct. .
Northampton N ’l Bank, Northampton
Hampshire Co. N ’l B ’k, Northampton
First N ’l Bank, Northampton .
Berkshire N ’l Bank, North Adams
First National Bank, Norwich, Ct.
Thames N ’l Bank, Norwich, Ct.
Palmer National Bank, Palmer
Chapin National Bank, Springfield
Croker National Bank, Turners Falls .
Ware National Bank, Ware
City National Bank, Worcester
Mechanics National Bank, Worcester


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$10,000 00
3,400 00
-

400
400
2,300
2,800
4,700
5,600
10,000
10,000
3,000
6,700
7,800
7,800

00
00
00
00
00
00
00
00
00
00
00
00
—

6,000
11,700
3,800
11,500
2,800
800

00
00
00
00
00
00
-

600 00
$112,100 00

$17,500
3,400
4,000
860
580
2,300
4,200
4,700
5,600
12,000
18,000
4,950
13,400
8,034
10,140
37
6,000
20,475
3,800
11,500
3,920
880
20
690

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
50
00
00
00
00
00
00
00
00

$14,910 00
3,400 00

$156,986 50

$117,003 33

-

400
400
2,293
2,800
4,700
5,600
10,000
10,000
3,000
6,700
7,800
7,800

00
00
33
00
00
00
00
00
00
00
00
00
—

6,000
11,700
3,800
11,500
2,800
800

00
00
00
00
00
00
-

600 00

BANK COMMISSIONER

No. 8]

5

Amherst Savings Bank — Concluded
T otal A m ount

of

L oans

on

O c t . 31, 1908,

E a c h S p e c if ie d R

Loans on Personal
Security

Loans on Real
Estate

R ate

b e a r in g

Other Loans

“

“

4i
4f

“
“

“
“

5

“

“

“

“

“

“

“

“

5
5

Ì
i

5f
6
6

“

Ì

6f

“

“

“

“

“

.
.
.

.
.
.

.
.
.
.
.
.

.
.
.
.
.
.

Totals .
Average rate

$79,500 00
11,000 00
1,785,636 72
23,301 00
28,535 00

D e p o s it s

and

00
00
00
00
00
00
00
00

50,000 00
1,426 00
50,415 00

00
00
00
00
72
00
00
00
00
00
00

$509,706 00

$143,541 00

$2,581,219 72

4 .9 9 per cent.

5 .7 0 per cent.

5 .0 3 per cent.

5 .13 per cent.

for

Y

Salaries
$7,389 39
.0019 of 1 %
W

$18,000
23,700
79,500
36.000
1,896,381
50.000
147,727
75.000
159,011
55,900
40.000

$1,927,972 72

T otal E xpen ses

Amount paid for
% of total assets

$25,000
60,745
50.000
123,000
75.000
80,061
55,900
40.000

Interest

Total Loans

$18,000 00
23,700 00

3 f per cent.
4

ate of

e a r , e x c l u s iv e

i t h d r a w a l s d u r in g

Y

ear

$358,663 48
5,058
$480,852 08
5,165
$12,034 44

Amount of deposits .
Number of same
Amount of withdrawals
Number of same
Net increase .in deposits

of

Advertising

Rent

St a t e T a x e s

Other Expenses
$499 81
.0001 of 1 %

B a n k B u il d in g

and

Total
$ /,889 20
0020 of 1 %

F ix t u r e s

Book value
Estimated value
Assessed value .
Net income

$15,000
15,000
9,050
845

00
00
00
19

D e p o s it A c c o u n t s
D iv i d e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Ca s h

on

d u r in g

Y

ear

. $67,116 14
. 67,106 90 $134,223 04

D e p o s it

in

Number opened during year
Number closed
“
Total number Oct. 31, 1908 .
Average balance “
“

654
556
7,292
$473 60

Banks

First National Bank, Amherst
Pynchon N ’l Bank, Springfield

S t a t is t ic s o f L o a n s
. $29,304 48
1,027
.
3 02 .8 0* No. not exceeding $3,000 each
Amount of same
.
$1,223,639 97
No. of loans on real estate .
766
M is c e l l a n e o u s
Average amount of same
. $2,516 93
Number of corporators, 18; trustees, 14
Gross income rec’d during year . $187,069 52 Amount loaned on real estate
during year .
.
. $157,810 00
State tax (net) paid “
“
.
6,391 68
No. of new real estate loans
made during year .
86
D a t e o f E x a m i n a t i o n , December 3
* In liquidation.

ANDOVER SAVINGS BANK, ANDOVER
P r e s id e n t,

Jo h n H . F l in t
C l e r k o f the C o r p o r a t i o n ,

B o a rd o f In v e stm e n t:

T r e a s u r e r , F r e d e r i c S. B o u t w e l l
F r e d e r ic S. B o u t w e l l

Jo h n H . F l in t , L e w is T . H

ardy,

J o s e p h A. S m a r t

Incorporated April 2, 1834. Open for business every business day, except Wednesdays,
9 a .m . to 12 m ., 2 to 4 p .m .; Wednesdays, 9 a .m . to 12 m .; the third Wednesday o f
March, June, September and December, 9 a .m . to 12 m ., 2 to 4 p .m .
Deposits commence to draw interest the third Wednesday of March, June, September
and December. Dividends are payable the third Wednesday of June and December


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

6

[Pub. Doc,

R E PO R T OF THE
Andover Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908

A ssets
Public funds
. $475,558
Railroad bonds .
.1,103,263
.
49,000
Street railway bonds
Boston Terminal Company bonds .
2 0 ,0 0 0
.
42,865
Telephone company bonds
Bank and trust company stocks . 141,275
.
35,000
Loans to railroad companies
2,660
“
on railroad stocks
“
“ bank and trust co. stocks
2 ,0 0 0
“
“ real estate
.1,771,146
. 637,350
“
“ personal security
Real estate by foreclosure, etc.
8,869
.
23,210
Deposits in banks, on interest
2 ,8 8 8
“
“
“
not on interest
7,154
Cash on hand
Checks and cash items
316

L ia b il it ie s
00

75
00
00
00
00
00
00
00

.$3,965,984 31

Deposits .
Surplus:
Guaranty fund
Profit and loss

.

op

Interest, rents, etc.
Less current
Expenses .

. $72,960 28
.

2,457 31

70,502 97

50
00

27
28
49
43
90
$4,322,557 62

Par Value

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone company bonds
Bonds and notes which are not now
investments
.
.
.
.

00

86,070 34

$4,322,557 62

Schedule

2 0 0 ,0 0 0

.
.
.
legal
.

$460,700
1,048,000
49,000
20,000
48,000

00
00
00
00
00

115,000 00

Estimated
Market Value
$454,538
1,015,140
49,430
19,600
43,380

75
00
00
00
00

112,825 00

Book Value
$460,558
1,039,542
49,000
20,000
42,865

00
50
00
00
00

113,721 25

$1,740,700 00 $1,694,913 75 $1,725,686 75

Shs.
141
32
10
63
50
120
225
6
187
89
58
129
110
50
118
25
172
100
25

B a n k a n d T r u s t C o m p a n y S to ck s

Andover National Bank, Andover
Boylston National Bank, Boston
Faneuil Hall National Bank, Boston .
First National Bank, Boston
Merchants National Bank, Boston
Metropolitan National Bank, Boston .
N ’l Bank of the Republic, Boston
National Security Bank, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
New England National Bank, Boston
Old Boston National Bank, Boston .
Second National Bank, Boston
South End National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
Webster & Atlas N ’l Bank, Boston
Bay State National Bank, Lawrence .
Union National Bank, Weymouth


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$14,100
3,200
1,000
6,300
5,000
12,000

00
00
00
00
00
00

600
18,700
8,900
5,800
12,900
11,000
5,000
11,800
875
17,200
7,500
250

00
00
00
00
00
00
00
00
00
00
00
00

$142,125 00

$15,510
3,200
1,380
19,782
10,850
14,400
11,250
1,800
54,230
14,240
8,120
14,319
23,650
4,750
17,110
25
24,940
11,100
137

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
50

$250,793 50

$14,100
3,200
1,000
6,300
5,000
12,000

00
00
00
00
00
00

600
18,700
8,900
5,800
12,900
11,000
5,000
11,800
25
17,200
7,500
250

00
00
00
00
00
00
00
00
00
00
00
00

$141,275 00

No. 8]

BANK COMMISSIONER

7

Andover Savings Bank — Concluded
T otal A m ount

op

L oans

on

Loans on Real
Estate

R ate
4rJ per cent.
4+ “
“
4f “
“
5

“

.
.

.
.

.

“

“

“

“

“
“
“
“

“
“
“
“

•
.
.
.
.
.
.
.

5f
6
6£
6|
7

“

“

8

“

“

Totals

28,351 00

.
.
.

.

Average rate

117,503 00

and

W

D iv i d e n d s

Ca s h

on

in

35,000 00
550 00
2,510 00

$25,000
297,600
10,000
1,719,192
75.000
53,901
40.000
125,263
50.000
25.000
7,200
20.000

00
00
00
50
00
00
00
00
00
00
00
00

5 .0 6 per cent.

5 .1 9 per cent.

5 .0 5 per cent.

5 .0 9 per cent.

for

Y

.

e a r , e x c l u s iv e

Rent
$999 96
.0231 of 1 %
Y

d u r in g

Y

State T a x e s

$5,888 49
20,210 28

Other Expenses
Total
$1,520 57
$7,975 53
.0352 of 1 %
. 1845 of 1 %

D e p o s it A c c o u n t s

Number opened during year
Number closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“
S t a t is t ic s

ear

B anks

Andover National Bank, Andover
New England N ’l Bank, Boston .

of

Advertising
$25 00
0006 of 1 %

ear

. $412,078 63
5,290
$569,023 90
5,030
$3,149 56

. $77,066 81
. 76,728 90 $153,795 71

D e p o s it

$1,600 00

$2,448,156 50

it h d r a w a l s d u r in g

declared

00
00
00
00
00
00
00
00
00
00
00
00

Total Loans

$39,660 00

Amount of deposits .
Number of same
Amount of withdrawals
Number of same
Net decrease in deposits
Dec., 1907, 2 % .
June, 1908, 2 % .

Other Loans

I nterest

$637,350 00

Salaries
$5,430 00
. 1256 of 1 %

Amount paid for
% of total assets

ate of

$1,771,146 50

T otal E x pe n se s

D e p o s it s

$25,000
232,000
10,000
122,900
75.000
25.000
40.000
5,250
50.000
25.000
7,200
20.000

$64,000 00

.
.

E a c h S p e c if ie d R

b e a r in g

Loans on Personal
Security

1,561,292 50

“

5i
5

i

O c t . 31, 1908,

of

634
643
7,994
$496 12

L oans

No. not exceeding $3,000 each
605
Amount of same
.
. $977,687 19
No. of loans on real estate .
749
Average amount of same
. $2,364 68
Amount loaned on real estate
during year .
.
. $158,500 00
No. of new real estate loans
made during year .
.
69

M is c e l l a n e o u s

Number of corporators, 3 7; trustees, 13
Gross income rec’d during year . $205,022 44
State tax (net) paid
“
“
10,334 95

D ate

of

E x a m i n a t i o n , May 22

ARLINGTON FIVE CENTS SAVINGS BANK, ARLINGTON
P r e s id e n t,

W

i l l ia m G . P e c k
C l e r k o f th e C o r p o r a t i o n ,

B o a rd of In v e stm e n t:

W

il l ia m

H

enry

T reasu rer,
B lasdale

H

enry

B lasdale

G. P e c k , G e o r g e H i l l , E d w a r d S. F e s s e n d e n

Incorporated April 2, 1860. Open for business every business day, 3 to 5.30
Wednesdays and Saturdays, 7 to 9 p .m .

p .m .;

also

Deposits commence to draw interest the first Saturday of January, April, July and October
Dividends are payable the first Saturday of January and July"


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF THE

[Pub. Doc,

Arlington Five Cents Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
.
.
.
$627,050
Railroad bonds .
.
.
.
262,000
Street railway bonds .
.
.
62,000
Bank and trust company stocks .
6,002
Loans to counties, cities or towns .
3,298
“
on bank and trust co. stocks
5,500
“
“ depositors’ books
.
.
100
“
“ real estate $1,157,699 08
Less, due on mtge. loans 14,750 00 1,142,949
Loans on personal security .
.
13,225
Bank building and fixtures .
.
100
Taxes, insurance, etc., paid on
mortgaged properties
.
.
12
Deposits in banks, on interest
.
74,292
Cash on hand
.
.
.
.
4,862
Checks and cash items
.
.
Ill

00
00
00
19
64
00
00
08
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

.$1,957,088 05
.
.

Interest, rents, etc.
Less current
Expenses,
.

. $14,001 97
.

1,808 73

op

Shs.

10
50
33
12
12

$2,201,503 34

Par Value

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$572,050
217,000
37,000
3,298

legal
.

00
00
00
64

A m ount

of

L oans

4 per cent.
5
“
“
5* “
“

.
•
.

.
.

“

“

“

“

.

.

“

“

“

“

.
.

.
.

Totals

on

11
50
00
64

$572,050
217,000
37,000
3,298

00
00
00
64

125,000 00

126,437 50

125,000 00

$960,941 75

$954,348 64

$1,000 00
5,000 00
-

1,200 00
1,200 00

O c t . 31, 1908,

Loans on Real
Estate

R ate

7

$573,158
221,032
37,015
3,298

Book Value

B a n k a n d T r u s t C o m p a n y S to ck s

First National Bank, Arlington .
Atlantic National Bank, Boston
N ’l Bank of the Republic, Boston
National Union Bank, Boston
Dedham National Bank, Dedham

T o t a l

i
i

Estimated
Market Value

$954,348 64

$8,400 00

5
6
6

12,193 24

50
49
44
00

$2,201,503 34

Schedule

80
132,109 25

1 0 0 ,1 1 2

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$823,066
165,050
94,650
58,182
1,400
600

b e a r in g

$1,800
7,000
1,650
1,920
1,260

00
00
00
00
00

$722 63
3,613 14

$13,630 00

$6,002 19

E a c h Sp e c if ie d R

Loans on Personal
Security

Other Loans

-

867 15
799 27

ate of

I nterest

Total Loans

$3,298 64
5,600 00

$3,298
838,741
165,050
95,800
60,182
1,400
600

$13,225 00

$8,898 64

$1,165,072 72

5 .2 0 per cent.

4 .6 2 per cent.

5 .13 per cent.

52
00
00
56
00
00

$10,075 00

$1,142,949 08
5 .13 per cent.

1,150 00
2,000 00

64
52
00
00
56
00
00

No. 8]

BANK COMMISSIONER

9

Arlington Five Cents Savings Bank — Concluded
T otal E xpen ses

Amount paid for
% of total assets
D e p o s it s

and

W

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Ca s h

on

.

d u r in g

e a r , e x c l u s iv e

Y

ear

. $255,410 12
5,477
$327,624 14
4,092
$2,353 14
Y

ear

. $37,421 77
. 37,145 39 $74,567 16

D e p o s it

in

M is c e l l a n e o u s

Number of corporators, 38; trustees, 15
Gross income rec’d during year . $101,463 00
State tax (net) paid “
“
3,883 51
of

State T a x e s

Other Expenses
$811 91
.0369 of 1 %

B a n k B u il d in g

Total

$5,970 30
.2712 of 1 %

F ix t u r e s

and

Book value
.
Estimated value
Assessed value .

.
.
.

$100 00
25,000 00
24,226 00

Number opened during year
Number closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“

.
.
.

411
376
6,195
$315 90

D e p o s it A c c o u n t s

B anks

First National Bank, Arlington . $18,490 41
Atlantic National Bank, Boston . 47,851 58
Faneuil Hall N ’l Bank, Boston .
7,950 50

D ate

of

Advertising

Rent

i t h d r a w a l s d u r in g

Amount of deposits .
Number of same
Amount of withdrawals
Number of same
Net increase in deposits
D iv i d e n d s

Y

for

Salaries
$5,158 39
.2343 of 1 %

S t a t is t ic s

of

L oans

No. not exceeding $3,000 each
214
Amount of same
.
. $231,678 31
No. of loans on real estate .
329
Average amount of same
. $3,474 00
Amount loaned on real estate
during year .
.
. $121,165 33
No. of new real estate loans
made during year .
.
24

E x a m i n a t i o n , December 7

ASSABET INSTITUTION FOR SAVINGS, M AYNARD
P r e s id e n t,

C. J. B o d f is h
C l e r k o f th e C o r p o r a t i o n ,

B o a rd of In v e stm e n t:

H. A. W

T reasu rer,
il s o n

C. J. B o d f is h , C. H . P e r s o n s , A . G . H
J. W . O g d e n

A. T. H

ayn es,

aynes

S. R . K

Incorporated March 31, 1904. Open for business every business day, 10
also Fridays, 7 to 8 p .m .; Saturdays, 3 to 4 p .m .

it c h i n ,

to 1

a .m .

p .m .;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July
B a l a n c e S h e e t , O c t o b e r 31, 1908

75
00
00*
00
77
53
19
08

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss
Bills payable

$36,601 74
368 00
1,213 69
5,000 00
00

$ 1,472
300
31,638
6,500
304
2 ,6 7 6
45
215

97

180

00
O

A ssets
Railroad bonds .
.
Loans to counties, cities or towns
“
on real estate
.
“
“ personal security
Furniture and fixtures
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand

Interest, rents, etc.
L e ss current

Expenses .
$ 43,152 32

31 l i t
$ 43,152 32

* This amount is in excess of the legal limit.
f Excess of expense over interest collected since close of bank’s fiscal year.

Schedule

of

Securities Owned

Railroad bonds
.
.
.
.
Loans to counties, cities or towns


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Par Value
.

Estimated
Market Value

Book Value

$1,500 00
300 00

$1,427 50
300 00

$1,472 75
300 00

$1,800 00

$1,727 50

$1,772 75

10

R E PO R T OF THE

[Pub. Doc.

Assabet Institution for Savings — Concluded
T otal A m ou nt

L oans

of

5
5
6

O c t . 3 1 , 1908,

Loans on Real
Estate

R ate
4

on

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

per cent.

i

“

“

“

“

“

“

Totals

$31,638 00

$6,500 00

$300 00

$38,438 00

5 .2 4 per cent.

4 .0 0 per cent.

5 .19 per cent.

T otal E xpen ses

and

for

Salaries
$250 00
.0058 of 1 %

Amount paid for
% of total assets
W

1,600 00

Y

e a r , e x c l u s iv e

Rent

i t h d r a w a l s d u r in g

Amount of deposits .
Number of same
Amount of withdrawals
Number of same
Net decrease in deposits

Y

of

Advertising

ear

declared

Jan., 1908, 1 |%
July, 190S, l f %
Ca sh

on

D e p o s it

.
.
in

d u r in g

$707 74
636 89

Y

Total
$345 67
.0080 of 1 %

D e p o s it A c c o u n t s

66

$15,373 58
352
$30,560 67
404
$13,842 46

Number opened during year
Number closed
“
Total number Oct. 31, 1908 .
Average balance “
“

ear

No. not exceeding $3,000 each
Amount of same
.
. $38,138
Number of loans on real estate
Average amount of same
.
$988
Amount loaned on real estate
during year .
.
.
500
No. of new real estate loans
made during year .
.

$1,344 63

B anks

Old Colony Trust Co., Boston
.
Hudson National Bank, Hudson .
First N ’l Bank, Marlborough
.

St a t e T a x e s

Other Expenses
$95 67
.0022 of 1 %

S t a t is t ic s
D iv id e n d s

00
00
00
00

5 .1 9 per cent.

.

Average rate

$300
27,618
5,450
5,070

$4,900 00

$22,718 00
5,450 00
3,470 00

.
.
.

Interest

Total Loans

$300 00
.
.
.

D e p o s it s

ate of

45 19
$956 33
1,720 20 *

D ate

of

of

146
456
$80 27

L oans

39
00
32
69
00
1

E x a m i n a t i o n , February 18

M is c e l l a n e o u s

Number of corporators, 29; trustees, 21
Gross income rec’d during year .
$2,438 21
State tax (net) paid “
“
69 22
* This amount, in excess of the legal limit, has since been reduced.

ATHOL SAVINGS BANK, ATHOL
P r e s id e n t,

L e v i B. F a t

T rea su rer,

C l e r k o f th e C o r p o r a t i o n ,
B o a rd of In v e stm e n t:

W m . G. A v e r y

W m . G. A v e r y

C h a r l e s F . A m s d e n , G e o r g e D. B a t e s , L e v i B . F a y , L u c i e n L o r d ,
H e n r y R . St o w e l l

Incorporated Feb. 12, 1867.

Open for business every business day, 9

a .m .

to 3

p .m .

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

11

Athol Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s
Public funds
.
.
.
.
$84,090
Railroad bonds .
.
.
.
498,062
Street railway bonds .
.
.
60,000
Boston Terminal Company bonds .
50,000
Telephone company bonds .
.
26,203
Bank and trust company stocks .
20,000
Loans to counties, cities or towns .
62,300
“
on bank and trust co. stocks
1,250
“
“ real estate
.
.
.1,701,313
“
“ personal security .
. 728,884
Real estate by foreclosure, etc.
.
300
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
5,053
Furniture and fixtures
.
.
8,500
Deposits in banks, on interest
. 101,982
Cash on hand
.
.
.
.
1,126

60
50
00
00
13
00
00
00
91
38
00

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$3,021,258 61
.
.

Interest, rents, etc.
Less current
Expenses .

. $60,073
.

of

of

L oans

Rate

4 per cent.
4Ì “
“
4T “
“
54 “
“
5g “
“
5i “
“
5Ì

“

“

6
61
61
6f
7

“
“
“

“
“
“

“

“

!

Totals .
Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

!

on

$3,349,067 72

Par Value

$83,000
500,000
40,000
50,000
30,000
62,300

.
.
.

legal
.

Shs.
Bank and Trust Company Stocks
41 Millers R iver National Bank, A thol
10 Eliot National Bank, Boston
22 National Bank of Commerce, Boston .
77 National Shawmut Bank, Boston
50 Springfield S. Dep. & Tr. Co., Springfield

T otal A m ou nt

O c t . 3 1 , 1908,

00
00
00
00
00
00

2 0 ,0 0 0

00

$785,300

00

$4,100

00

Book Value

$84,235 0 0
493,300 0 0
42,500 0 0
49,000 0 0
27,112 50
62,300 0 0

$84,090 60
498,062 50
4 0,000 0 0
50,000 0 0
26,203 13
62,300 0 0

20,700

00

2 0 ,0 0 0

$779,147 50

00

$780,656 23

00

1 ,0 0 0

00

00

2 ,2 0 0

00

00

00

1 0 ,0 0 0

00

7,700
5,000

00

00
00

$44,770

00

$2 0 , 0 0 0

00

00
00

7,700
5,000
$2 0 , 0 0 0

b e a r in g

Estimated
Market Value

$6,970
1,950
3,520
22,330

1 ,0 0 0
2 ,2 0 0

Loans on Personal
Security

$ 4 6 4,250 00
5 2,500 00
1,029 ,1 3 8 93

$2,913
2 5.000
61 ,6 1 5
35.0 0 0
25.0 0 0
8 4,900
253,3 0 0
3 0.000
8 3,500
2 5.000
102,655

47
00
00
00
00
00
00
00
00
00
91

$4,100

00

E a c h S p e c if ie d R

Loans on Real
Estate

17,950 00
137,474 98

57,278 61

36
00
99
85

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

86

2,795 25

$3,349,067 72

Schedule

148,868 40
121,662 1 0

Other Loans

$40,000 00
7 .500 00
12,300 00

2 .500 00
1,250 00

ate of

00

00

I nterest

Total Loans

$40,000
474,663
7 7.500
1,103,053
3 5.000
2 5.000
105,350
3 9 2 ,0 2 4
30.0 0 0
83.5 0 0
2 5.000
102,655

00
47
00
93
00
00
00
98
00
00
00
91

$ 1 ,7 0 1 ,3 1 3 91

$7 2 8 ,8 8 4 38

$63,5 5 0 00

$2,4 9 3 ,7 4 8 29

4 .9 4 per cent.

5 .9 7 per cent.

4 .3 5 per cent.

5 . 2 2 per cent.

12

REPORT OF THE

[Pub. Doc.

Athol Savings Bank — Concluded
T otal E x pen ses
A m ount paid for
% of total assets

Salaries
$6,341 35
. 1893 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$660 00
.0 1 9 7 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
. $ 4 2 6,428 74
N um ber of same
5,472
Am ount of withdrawals
. $ 5 1 0,252 3 4
N um ber of same
5,542
N et increase in deposits
. $32,3 9 7 36

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $57,600 87
July, 1908, 2 % .
. 5 8,620 09 $116,220 96

C a s h o n D e p o s it i n B a n k s
A thol National Bank, Athol
.
Millers R iver NT Bank, A th ol
.
First National Bank, Boston
.
N ortham pton
National
Bank,
N ortham pton
.
.
.

of

Advertising
$150 96
0 045 of 1 %

$5,000 00
58 ,5 9 4 76
2 8 ,3 8 8 23
10,000 00

State T a x e s
Other Expenses
$ 1,508 27
.0 4 5 0 of 1 %

Total
$ 8,660 58
.2 5 8 5 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

926
828
7,766
$389 03

St a t is t ic s of L o an s
N o. not exceeding $ 3,000 each
229
A m ount of same
.
. $2 5 6 ,6 6 7 91
No. of loans on real estate .
335
Average amount of same
.
$ 5,078 54
A m ount loaned on real estate
during year
.
.
. $213,750 00
N o. of new real estate loans
m ade during year .
.
25

D ate

of

E x a m i n a t i o n , N ovem ber 30

M is c e l l a n e o u s
Num ber of corporators, 4 4 ; trustees, 12
Gross income rec’d during year . $161,738 56
State ta x (net) paid “
“
.
7,021 65

ATTLEBOROUGH SAVINGS BANK, NORTH ATTLEBOROUGH
President, A l b e r t T o t t e n
Treasurer, E d w a r d E . K in g
Clerk of the Corporation, H a r r y D . H u n t
Board of Investment: A l b e r t T o t t e n , G e o r g e W . C h e e v e r , A l f r e d R . C r o s b y ,
E d g a r L . H i x o n , M a r k E . R o w e , O r v i l l e P. R ic h a r d s o n , F r e d E . S t u r d y
Incorporated Feb.

2

, 1860.
Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 1 2 m .

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the fifteenth day of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
.
.
.
$27,000
Railroad bonds .
.
.
.
281,912
Boston Terminal Company bonds .
50,000
Bank and trust company stocks .
6,250
Loans on depositors' books .
.
500
“ real estate
.
.1,468,738
“
“ personal security .
. 645,510
Bank building and fixtures .
.
25,026
Real estate by foreclosure, etc.
.
43,350
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
23,338
Deposits in banks, on interest
.
48,092
“
“
“
not on interest .
608
Cash on hand
.
.
.
.
8,219
Checks and cash items
.
.
51


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00

00
00
00
96
00
00
01

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss
Interest, rents, etc.
Less current
Expenses .

.$2,400,645 81
.

125,000 00
95,155 47

$8,327 46
532 05

7,795 41

04
08
60
75
25

$2,628,596 69

$2,628,596 69

13

BANK COMMISSIONER

No. 8]

Attleborough Savings Bank — Concluded
Schedule

op

Securities Owned

Public funds .
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Boston Terminal Company bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

of

L oans

per cent.
“
“

4i

“

“

4f
5

“

“

“
“

“
“

5Ì
5Ì

•■

•

$28,750
3 6.000
2 7.000
5,200
693,1 5 4

“

“
“

“

6i

“

“

7

“

“

00
00
00
00
00

$2 , 0 0 0 0 0
259,8 7 5 00
4 9,000 00

$2 , 0 0 0 0 0
281,912 00
50,000 00

2 5,000 00

25 ,0 0 0 00

25,0 0 0 00

$335,875 00

$358,912 00

$5,000 00

$ 6,400 00

$ 6,250 00

b e a r in g

E a c h S p e c if ie d R

ate of

Other Loans

$167,700 00
56,000 00
3 9,900 00
00

234,410 00

.

$1,4 6 8 ,7 3 8 96

$645,510 00

5 .3 4 per cent.

5 .6 7 per cent.

Am ount paid for
% of total assets

Salaries
$4 ,3 6 6 31
.1 6 6 2 of 1 %

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

for

Y

e a r , e x c l u s iv e

Rent
$ 1,395 72
.0 531 of 1 %
Y ear
$478,614 22

d u r in g

6,122
$623,382 8 6
6,850
$53,619 52

D i v i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 45,707 37
O c t., 1908, 2 %
. 45,441 75 $91,149 12
C a s h o n D e p o s it i n B a n k s
Eliot National Bank, Boston
. $44,032 60
Manuf. N ’l B ’k, N o. Attleborough
4 ,059 48
Jewelers’ N ’l B ., N o. Attleborough
608 60
M is c e l l a n e o u s
N um ber of corporators, 9 1 ; trustees, 17
Gross income rec’d during year . $133,571 8 6
State ta x (net) paid “
“
.
5 ,084 53
E x a m i n a t i o n , January 28


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

6 .0 0

Interest-

Total Loans

$28,750
3 6 .000
2 7 .000
5,200
8 6 0 ,8 5 4
56.000
2 36,630

00
00
00
00
00
00
00

1 0 0 ,0 0 0

00

$500 00

716,4 1 4 96
400 00
47,500 00

$500 00

$ 2 ,1 14,748 96

per cent.

5 .4 4 per cent.

4 7,500 00

T otal E xpen ses

o f

$2 , 0 0 0 0 0
295,000 00
50,000 00

1 0 0 ,0 0 0

4 8 1 ,5 0 4 96
400 00

Average rate

D ate

Book Value

Loans on’ Personal
Security

196,730 00

“

5f
6

T otals

O c t . 3 1 , 1908,

Loans on Real
Estate

Rate

4
R

on

Estimated
Market Value

$372,000 00
Shs.
Bank and Trust Company Stocks
50 Manufacturers N ’l B ’k, No. Attleborough

T otal A m ount

Par Value

of

St a t e T a x e s

Advertising
$267 33
.0101 of 1 %

Other Expenses
$ 1,500 49
.0 5 7 0 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

Total
$7,529 85
.2 8 6 4 of 1 %

F ix t u r e s
. $25,0 2 6 00
.
30 ,0 0 0 00'
.
15,750 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance
“
“

880
1,072'
6,739
$356 23'

St a t is t ic s o f L o an s
N o. not exceeding $ 3,000 each
461
A m ount of same
.
. $508,329 61
No. of loans on real estate .
565
Average amount of same
.
$2,599 54
A m ount loaned on real estate
during year
.
.
. $ 2 5 5,195 06
N o. of new real estate loans
made during year .
.
96-

14

R E PO R T OF THE

[Pub. Doc,

BARRE SAVINGS BANK, BARRE
President, C. H . F o l l a n s b y
Treasurer, M . B . H
Clerk of the Corporation, F r a n k A . R ic h

ancock

Board of Investment: C. H . F o l l a n s b y , J o h n C. B a r t h o l o m e w , G e o r g e W . C o o k ,
G e o r g e N . H a r w o o d , Ch a r l e s F . A t w o o d
Incorporated M ay
9

1

, 1869. Open for business every business day, except Saturdays,
to 12 m ., 1 to 3 p .m .; Saturdays, 9 a .m . to 1 2 m .

a .m .

Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the fifteenth day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
on real estate
personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposit in bank, on interest .
“
not on interest
■Cash on hand
Checks and cash items

. $96,700 0 0
. 198,100 0 0
.
31,500 0 0
.
13,500 0 0
.
28,456 0 0
.
24,500 0 0
.
1 0 ,0 0 0 0 0
. 395,275 97
9,000 0 0
.
13,235 26
.
1 0 ,0 0 0 0 0
.
1 1 ,0 0 0 0 0
3,375 89
520 8 6
1

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

$773,364 17
39,000
27,280

Interest, rents, etc.
$6,307 63
Less current
Expenses .
$685 50
Taxes
.
102 00
787 50

op

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
B onds and notes which are not now
investments
.
.
.
.

$845,164 98

Estimated
Market Value

Par Value

.
.

legal
.

Shs.
Bank and Trust Company Stocks
36 First National Bank, Barre
20 Boylston National Bank, Boston
25 Eliot National Bank, Boston
23 First National Bank, Boston
32 National Bank of Commerce, Boston .
50 N 'l Market Bank of Brighton, Boston .
3 4 Second National Bank, Boston .
30 Tremont National Bank, Boston
7 W are National Bank, W are
25 City National Bank, Worcester .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

5,520 13

00

$845,164 98

Schedule

00
68

$91,700
185,000
26 ,5 0 0
15,000
24 ,5 0 0

00
00
00
00
00

$93,541
171,937
2 7,230
13,556
24,5 0 0

00
50
00
25
00

Book Value

$91,700
179,487
26 ,5 0 0
13,500
2 4 ,500

00
50
00
00
00

4 0,000 00

38,6 7 5 00

3 8,612 50

$382,700 00

$369,439 75

$374,300 00

$3,600 00

$3,600 00

2 ,0 0 0

00

2 ,0 0 0

00

2 ,500
2 ,300
3,200
5,000
3 ,400
1,050
700

00
00
00
00
00

4 ,8 7 5
7,222
5,120
5,100
7,310
30
770
25

00
00
00
00
00
00
00
00

00

00
-

$ 23,750 00

$ 36,052 00

$3,600
2 ,0 6 0
2 ,9 5 0
5 ,405
3 ,4 5 6
5,150
5,100

00
00

00
00
00
00
00

_
735 00
-

$28,456 00

No. 8]

BAN K COMMISSIONER

15

Barre Savings Bank — Concluded
T otal A m ou nt

of

L oans

on

O c t . 31, 1908,

Loans on Real
Estate

R ate

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

3 f per cent.
4
4i
5
5Ì
5i

6

“

“

.

“

“

.
.
.
.
.

“

“

“

“

“

“

“

"

T otals

.
.
.
.
.

Average rate

$ 25,000
193,701
10,400
64,790
101,384

00
97
00
00
00

1 0 ,0 0 0

00

$ 9,000 00

$34,5 0 0 00

$ 4 3 8,775 97

5 .3 1 per cent.

5 .6 1 per cent.

4 .1 8 per cent.

5 .2 3 per cent.

for

Salaries
$ 1,600 00
.1 8 9 3 of 1 %

Y

e a r , e x c l u s iv e

Rent
—
—

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits
.
.
. $ 70,070 38
N um ber of same
.
.
.
936
A m ount of withdrawals
.
. $99,261 6 6
N um ber of same
.
.
.
1,027
N et increase in deposits
.
.
$963 6 6
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $15,0 1 6 12
July, 1908, 2 % .
. 15,138 82 $ 3 0 ,1 5 4 94
C a s h o n D e p o s it i n B a n k
First National Bank, Barre

.

$14,375 89

M is c e l l a n e o u s
Num ber of corporators, 3 5 ; trustees, 16
Gross income rec’d during year . $ 3 7 ,9 1 4 09
State ta x (net) paid “
“
1,473 72
of

00

00
00
00
97
00
00
00

$3 9 5 ,2 7 5 97

T otal E x p e n se s

D ate

$15,000
9 ,500
2 5,000
203,701
10,400
71,790
1 03,384

$7,000 00
2 ,0 0 0

I nterest

Total Loans

$15,0 0 0 00
9 ,5 0 0 00

.

Am ount paid for
% of total assets

ate of

E x a m i n a t i o n , March 20

of

Advertising
$2 00
0 0 0 2 of 1 %

St a t e T a x e s
Other Expenses
$514 33
.0 6 0 8 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$ 2,116 33
.2 5 0 3 of 1 %

F ix t u r e s
. $13,2 3 5
.
13,235
7,000
99

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

26
26
00
98

165
161
1,921
$402 58

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
174
A m ount of same
.
. $2 1 2 ,8 9 5 97
Num ber of loans on real estate
207
Average amount of same
.
$1,909 54
Am ount loaned on real estate
during year
.
.
. $14,740 00
N o. of new real estate loans
made during year .
.
13

BASS RIVER SAVINGS BANK, SOUTH YARM OUTH
President, C h a r l e s G . B a k e r
Treasurer, H ir a m D . L o r in g
Clerk of the Corporation, M a n t o n H . C r o w e l l
Board of Investment: C h a r l e s G . B a k e r , E d w i n B a x t e r , G e o . H . L o r in g ,
E . L . Je n k in s , H e n r y H . Se a r s
Incorporated April 15, 1874.

Open for business every business day, 9
2 t o 4 p .m .

a .m .

to 12

m .,

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first day of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

16

[Pub. Doc,

R E PO R T OF TH E
Bass River Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
L ia b il it ie s

A ssets
$4,912 50
Public funds
.
.
.
.
Railroad bonds .
.
.
.
119,031 25
6 ,0 0 0 0 0
Street railway bonds
4,521 0 0
Telephone company bonds .
Bank and trust company stocks
5,001 17
14,903 13
Loans to railroad companies
“
on bank and trust co. stocks
6,825 0 0
347,099 90
“
“ real estate
“
“ personal security .
13,225 50
Real estate by foreclosure, etc.
3,373 75
Stocks, bonds, etc., taken to secure
indebtedness .
16 0 0
7,471 29
Deposits in banks, on interest
“
“
“
not on interest .
17 05
1,689 09
Cash on hand
.
.
.
.
300 0 0
Checks and cash items

Deposits .
Surplus:
Guaranty fund
Profit and loss

$496,523 76
25,000
11,554

Interest, rents, etc.
Less current
Expenses .

.

$1,582 69

of

$534,386 63

.
.

$ 5,000 00

.
.
.

.

op

L oans

now legal
.
.

4% per cent.
5

“

“

“

“

5Ì

“

“

6
7

“

“

“

“

Totals

O c t . 3 1 , 190 8 ,

.
.
.

.
.
.

.
.

Average rate

$ 4 ,900
76 ,8 9 8
6,700
57,450
197,951
3 ,2 0 0

00

00
00
00
75

25 ,0 0 0 00

25 ,0 0 0 00

$ 1 5 1,000 00

$144,563 75

6 ,0 0 0

00

4,521 00
24,903 13
$149,367

88

$1 ,1 0 0 0 0
1,295 00
2 ,400 00
900 00

$1 ,5 9 5
37
3 ,0 9 6
1 ,125

00
00
00
00

$1,472 50

$5,6 9 5 00

$ 5,853 00

$5,001 17

b e a r in g

00
00
00
00
90
00

$4,912 50
109,031 25

—

2 ,400 00
1,128 67

E a c h S p e c if ie d R a t e
Other Loans

$ 5,000 00

$15,028 13

8 ,2 2 5 50

6 ,700 00

op

Interest

Total Loans

$4,900
9 6 ,9 2 6
6,700
57,450
212,877
3,200

00
13
00
00
40
00

$347,0 9 9 90

$13,2 2 5 50

$21,7 2 8 13

$382,053 53

5 .6 2 per cent.

5 .3 0 per cent.

5 .6 4 per cent.

Salaries
$1,969 00
.3 6 8 5 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

6 ,0 0 0

$5,000
104,075
5,970
4 ,518

Book Value

5 . 6 6 per cent.

T otal E x pen ses
A m ount paid for
% of total assets

00

Loans on Personal
Security

Loans on Real
Estate

R ate

5Ì

on

1 1 0 ,0 0 0

5,000 00

Shs.
Bank and Trust Company Stocks
11 State National Bank, Boston
37 Trem ont National Bank, Boston
2 4 First National Bank, New Bedford
9 First National Bank, Y arm outh

T otal A m ou nt

Estimated
Market Value

Par Value

Securities Owned

Public funds .
.
.
.
Railroad bonds
.
.
.
Street railway bonds
.
.
Telephone com pany bonds
Bonds and notes which are not
investments
.
.
.

1,308 85

273 84

$534,386 63

Schedule

00
02

por

Y

e a r , e x c l u s iv e

Rent
$100 00
.0 1 8 7 of 1 %

of

Advertising
$30 00
.0 0 5 5 of 1 %

St a t e T a x e s
Other Expenses
$469 84
.0 8 7 8 of 1 %

Total
$ 2,568 84
.4 8 0 5 of 1 %

BANK COMMISSIONER

No. 8]

17

Bass River Savings Bank— Concluded
D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

Y ear
$65,372 27
912
$74,611 07
1,072
$ 9 ,614 43

D e p o s it A c c o u n t s
Num ber opened during y ea r
Num ber closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“

d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 9 ,3 6 4 04
O ct,, 1908, 2 %
.
9 ,4 8 9 19 $18,853 23
C a s h o n D e p o s it i n B a n k s
N ational Shawmut Bank, Boston
N ew England N ’l Bank, Boston .
First National Bank, Hyannis

$17 05
5 ,848 25
1,623 04

M is c e l l a n e o u s
N um ber of corporators, 2 8 ; trustees, 17
Gross income rec’d during year . $26,443 06
State ta x (net) paid “
“
767 47

132
101
1,595
$311 30

S t a t is t ic s o e L o a n s
N o. not exceeding $ 3,000 each
232
A m ount of same
.
. $171,343 40
N o. of loans on real estate .
243
Average am ount of same
.
$ 1 ,428 39
A m ount loaned on real estate
during year
.
.
. $51,100 00
N o. of new real estate loans
made during year .
.
30
D ate

op

E x a m i n a t i o n , October 22

BAY STATE SAVINGS BANK, WORCESTER
President, W

H art
Treasurer, G e o r g e M cA l e e r
Clerk of the Corporation, J o h n B . R a t ig a n

il l i a m

Board of Investment: W il l i a m H a r t , J a m e s E a r l y , J e r e m i a h H
J a m e s A . M c D e r m o t t , N i c h o l a s J. M o o n e y

ennesy,

Incorporated March 9 , 1895. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 1 p .m ., and for deposits only, 6 to 8 p .m .
Deposits commence to draw interest the first day of March, June, September and
December.
Dividends are payable the fifteenth day of March and September

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Loans on real estate
“
“ personal security
Taxes, insurance, etc., paid
mortgaged properties
Deposits in banks, on interest
Cash on hand

. $95,949 25
. 219,628 25
.
10,412 50
. 796,902 05
.
45,575 0 0
on
218 35
.
60,543 1 0
753 90

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

.$1,185,220 76
20,436 00
14,371 83

Interest, rents, etc.
Less current
Expenses .

. $10,468 44
514 63

$1,229,982 40

S chedule

of

Securities O wned

Public funds .
.
.
.
Railroad bonds
.
.
.
Street railway bonds
.
.
Bonds and notes which are not
investm ents
.
.
.

.
.

.
.
.
.
now legal
.
.

Shs.
Bank and Trust Company Stocks
3 Trem ont National Bank, B oston .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

9,953 81

$1,229,982 40

Par Value

$87,000 00
2 2 1 ,0 0 0
1 0 ,0 0 0

00
00

Estimated
Market Value

Book Value

$ 85,000 00
2 0 1 ,3 6 5 00
9 ,9 5 0 00

$89,089 25
219,6 2 8 25
10,412 50

7 ,0 0 0 00

6,720 00

$325,000 00

$ 3 0 3,035 00

$105 00

$3 00

6,860

00

$325,990 00

[Pub. Doc.

R E PO R T OF THE

18

Bay State Savings Bank — Concluded
T otal A m ount

of

L oans

.

.

6

.

.

Totals

$17,300
700
3 ,8 2 5
2 3,750

—

.

Average rate

725,422 05
10,980 00

E a c h S p e c if ie d R

—

-

4 .9 7 per cent.

Y

$77,800
700
729,247
3 4,730

—

5 .3 2 per cent.

e a r , e x c l u s iv e

of

$842,477 05

-

4 .9 9 per cent.

St a t e T a x e s

Rent

Advertising

Other Expenses

$ 1,000 0 0
.0 8 1 3 of 1 %

$699 9 6
.0 5 6 9 of 1 %

$ 464 67
.0 3 7 7 of 1 %

$307 93
.0 251 of 1 %

Y ear
$ 2 2 8 ,4 3 4 98
2 ,502
$ 2 2 6,842 70

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
T otal num ber O ct. 31, 1908 .
Average balance
“
“
.

d u r in g

2,110

00
00
05
00

-

Salaries

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

I nterest

Total Loans

_

$45,5 7 5 00

for

ate of

Other Loans

00
00
00
00

$796,902 05

T otal E x pen ses
Am ount paid for
% of total assets

b e a r in g

Loans on Personal
Security

$60,5 0 0 00

4-| per cent.
4Ì “
“
5
“
“
“

O c t . 31, 1908,

Loans on Real
Estate

R ate

“

on

Total
$2,472 56
2 0 1 0 of 1 %

468
358
2,831
$418 65

$45,703 65
St a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
158
A m ount of same
.
. $266,862 05
N o. of loans on real estate .
251
Average amount of same
.
$ 3 ,1 7 4 90
A m ount loaned on real estate
during year
.
.
. $100,790 00
70 N o. of new real estate loans
40*
m ade during year .
.
24

D iv i d e n d s d e c l a r e d d u r i n g Y e a r
M ar., 1908, 2 %
. $21,691 72
Sept., 1908, 2 %
. 2 2 ,419 65
$44,111 37

C a s h o n D e p o s it i n B a n k s
Merchants N ’l Bank, W orcester
W orcester Trust Co., W orcester

$11,2 0 7
49,3 3 5

M is c e l l a n e o u s
N um ber of corporators, 8 6 ; trustees, 21
Gross income rec’d during year .
$54,9 1 6 46
State ta x (net) paid “
“
.
2,071 81

D ate

of

E x a m i n a t i o n , January 10

* This amount, in excess of the legal limit, has since been reduced.

BELMONT SAVINGS BANK, BELMONT
President, J. H e n r y F l e t c h e r
Treasurer, W in t h r o p L . C h e n e r y
Clerk of the Corporation, T h o m a s W . D a v i s
Board of Investment:

J. H e n r y F l e t c h e r , F r e d e r ic D o d g e , J o s e p h O . W
Ch a r l e s W . W in n , I sa a c H . L o c k e

Incorporated March 5, 1885.

e l l in g t o n ,

Open for business every business day, 3 .3 0 to 5 .3 0
also W ednesdays, 7 to 8 p .m .

p .m

;

Deposits commence to draw interest the third W ednesday in January, April, July and
October. Dividends are payable the third W ednesd ay in January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

19

Belmont Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
“
on real estate
“
“ personal security
Real estate by foreclosure, etc.
Premiums .
.
.
.
.
Furniture and fixtures
Deposit in bank, on interest .
Cash on hand
.
.
.
.
Checks and cash items

L ia b il it ie s
$56,000 0 0
116,912 50
1 0 ,0 0 0

6,975
2,600
700
209,515
19,340
5,377
750
1,622
8,411
1,676
26

00
00
00
00
00
00

94
75
06

$420,604 26

Deposits .
Surplus:
Guaranty fund
Profit and loss

12,400 00
2,702 63

Interest, rents, etc.
Less current
Expenses .
Suspense account

$4,391 23
427 82

88
68

50
$439,908 31

$439,908 31

Schedule

op

Par Value

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$56,000 00
107,500 00

of

L oans

on

O c t . 31, 1908,

Loans on Real
Estate

Rate

00

9 ,5 5 0 00

9 ,550 00

$192,200 00

$187,512 50

$190,587 50

$2,400 00

8 ,0 0 0

00

1 0 ,0 0 0

6
6*
y
8

.
.
.

“
“

“
“
“

it

“
“
“

U

.

.

“

“

!

!

$91,500 00
106,015 00
1 2 ,0 0 0

00

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00

6 ,975 00
700 00

$3,312 00
580 00

$2,400 00

00

200

00

$ 2,600

00

$3,892 00

$2 ,6 0 0

00

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$ 5 ,000 00
7 ,300 00
5,200 00
1,690 00
100

.

1 0 ,0 0 0

200

$700 00
.
.
.

“
“

T otals

$56,400
103,757
9 ,8 7 5
7,230
700

Book Value

$56,000 00
107,362 50

00

per cent
5
5i
5f

Estimated
Market Value
00
50
00
00
00

1 0 ,0 0 0

700 00
legal
.

Shs.
Bank and Trust Company Stocks
2 4 Faneuil H all N ’l Bank, Boston .
2 National Shawmut Bank, Boston

T otal A m ou nt

3,963 41
238 01

00

ate of

I nterest

Total Loans

$700
96,5 0 0
106,015
7,300
17,200
1,690

00
00
00
00
00
00

100

00

50 00

50 00
$209,515 00

$19,3 4 0 00

$700 00

$229,555 00

5 .3 1 per cent.

5 .7 0 per cent.

4 .5 0 per cent.

5 .3 4 per cent.

20

R E PO R T OF THE

[Pub. Doc,

Belmont Savings Bank — Concluded
T otal E xpen ses

fob

Salaries
Am ount paid for
% of total assets

$850 00
.1 9 3 2 of 1 %

D e p o s it s a n d W it h d r a w a l s
A m ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

Y

e a r , e x c l u s iv e

Rent
$75 00
.0 1 7 0 of 1 %
Y eab
. $73,263 51
.
1,555
. $66,1 0 6 6 8
.
743
. $22,311 50
d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $7 ,5 0 0 91
July, 1908, 2 % .
.
7,653 76 $15,1 5 4 67

Ca s h o n D e p o s it in B a n k
Faneuil H all N ’l Bank, Boston

.

$8,411

88

M is c e l l a n e o u s
Num ber of corporators, 4 0 ; trustees, 17
Gross income rec’d during year . $19,470 64
State ta x (net) paid “
“
.
967 06

of

State T a x e s

Advertising
$15 72
.0 0 3 5 of 1 %

Total

Other Expenses
$459 92
.1 0 4 5 of 1 %

$ 1 ,400 64
.3 1 8 2 of 1 %

D e p o s it A cc o u n ts
Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance
“
“
.

183
110
1,564
$268 92

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
93
Am ount of same
.
. $112,755 00
N o. of loans on real estate .
100
Average am ount of same
.
$2 ,0 9 5 15
A m ount loaned on real estate
during year
.
.
. $18,0 5 0 00
N o. of new real estate loans
m ade during year .
.
9

D ate

of

E x a m i n a t i o n , September 9

BENJAMIN FRAN KLIN SAVINGS BANK, FRANKLIN
President, E l is h a P. C h a p m a n
Treasurer, C h a r l e s L . S t e w a r t
Clerk of the Corporation, C h a r l e s L . S t e w a r t
Board of Investment: E l is h a P. C h a p m a n , E d w a r d H . S h e r m a n , W a l t e r M. F i s h e r ,
A d e l b e r t D . T h a y e r , J a m e s O . C h i l s o n , O r e s t e s T . D o e , H o r a c e W . H o s ie
Incorporated Feb. 20, 1871.

Open for business every business day, 9
1 to 4 P.M.

a .m .

to

1 2 m .,

and

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the fifteenth day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
.
.
.
Railroad bonds .
.
.
.
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
“
on bank and trust co. stocks
“
“ depositors’ books .
“
“ real estate
“
“ personal security
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on mort­
gaged properties
Furniture and fixtures .
Deposits in banks, on interest
“
“
“
not on interest .
Cash on hand
.
.
.
.
Checks and cash items .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2 0 , 0 0 0
201,282
8,775
9,090
13,000
500
100

00
00
00
00
00
00
00
00

142,905
166,395 44
7,685 2 2

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

Interest, rents, etc.
Less current
Expenses .
$987 35
Taxes
. 154 36

$571,709 65
15,151 65
3,816 79

$8,604 15
$1,141 71

7,462 44

16 39
1,512 80
24,231 0 1
1 ,0 0 0

00

815 31
832 36
$598,140 53

$598,140 53

21

BANK COMMISSIONER

No. 8]

Benjamin Franklin Savings Bank — Concluded
Schedule

op

Par Value

Securities Owned

$2 0 , 0 0 0 0 0
173,000 00

Public funds .
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

1 0 ,0 0 0

of

L oans

Totals

.
.

19,550 00

19,975 00
$243,0 5 7 00

$560 00
7 ,500 00
840 00

$ 16 0 0
9 ,0 0 0 00
840 00

—
$8 ,2 5 0 00
840 00

$8,900 00

$9,8 5 6 00

$ 9,090 00

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

$2 2 , 0 0 0 0 0
45 ,6 0 5 00

.

Average rate

Total Loans

Other Loans

$13,000 00

$28,000

00

8 8 ,0 0 0

00

71 ,8 0 5
2 7,100
2 7,500
6 5 ,495
15,000

00
00
00
44
00

25,7 0 0
15.000
2 7,500
2 ,1 9 5
15.000

00
00
00
44
00

500 00

$1 4 2 ,9 0 5 00

$1 6 6 ,3 9 5 44

$ 13,600 00

$322,900 44

5 .4 1 per cent.

5 .0 3 per cent.

4 .0 5 per cent.

5 .1 6 per cent.

00

63,200 00

for

Salaries
$1,885 00
.3 1 4 7 of 1 %

Y

e a r , e x c l u s iv e

Rent
$240 00
.0 4 0 0 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
. $ 1 0 6,946 41
Am ount of deposits .
1,859
N um ber of same
. $1 3 4 ,6 0 6 91
A m ount of withdrawals
1,993
N um ber of same
.
$ 8,805 82
N et decrease in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, l f %
. $9,499 53
July, 1908, \ \ %
.
9 ,3 5 5 15 $ 1 8 ,8 5 4
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
Second National Bank, Boston .
Franklin National Bank, Franklin

68

$12,816 55
9 ,6 9 5 18
2,719 28

M is c e l l a n e o u s
N um ber of corporators, 3 6 ; trustees, 2 0
Gross income rec’d during year . $26,631 18
State ta x (net) paid “
“
2 ,0 5 8 62


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

I nterest

00

T otal E xpen ses
Am ount paid for
% of total assets

ate of

6 6 ,0 0 0

1 2 ,1 0 0

.
.

$2 0 ,0 0 0 0 0
181,307 00
8 ,7 7 5 00
13,000 00

50
00
50
00

$2 3 0 ,9 7 5 00

$15,0 0 0 00
.
.
.
.
-

$20,2 4 7
169,140
9 ,0 3 7
13,000

00

2 0 ,0 0 0

O c t . 31, 1908,

Loans on Real
Estate

Rate

4 per cent.
4i “
“
5
“
“
5* “
“
5f “
“
6
“
“
6*
“
“

on

Book Value

$236,000 00
Shs.
Bank and Trust Company Stocks
16 Trem ont National Bank, Boston
75 Franklin National Bank, Franklin
12 N ’ l Bank of W rentham , W rentham

T otal A m ount

00

13,000 00

Estimated
Market Value

100

00

of

State T a x e s

Advertising
$42 08
0070 of 1 %

Other Expenses
$605 76
.1 011 of 1 %

Total
$2,772 8 4
4628 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

290
285
2,493
$229 32

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
128
Am ount of same
.
. $103,400 44
No. of loans on real estate .
108
Average am ount of same
.
$1,323 18
Am ount loaned on real estate
during year
.
.
.
$6,661 0 6
N o. of new real estate loans
m ade during year .
.
8
D ate

of

E x a m i n a t i o n , M a y 20

22

R E PO R T OF THE

[Pub. Doc,

BERKSHIRE COUNTY SAVINGS BANK, PITTSFIELD
President, A r t h u r H . R ic e
Clerk of the Corporation, W
Board of Investment:
Incorporated Feb.

2

R

o ber t W . A dam ,
L e v i A . St e v e n s ,

Treasurer, R
L . A dam

obert

W . A dam

il l i a m

W il l i a m H . S l o a n , A
F ra n k W . D utton

lexan der

K

ennedy

, 1846. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 1 2 m .

Deposits commence to draw interest the first d ay of January, April, July and
Dividends are payable the first d ay of January and July

October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
. $167,000
Public funds
Railroad bonds .
.1,520,112
Street railway bonds
. 562,500
Telephone company bonds .
.
78,750
Bank and trust company stocks . 182,000
Loans to counties, cities or towns .
34,400
“
on bank and trust co. stocks
5,700
“
“ real estate
.2,831,655
“
“ personal security
. 233,755
Bank building and fixtures .
. 150,000
Deposits in banks, on interest
.
26,773
“
“
“
not on interest
3,620
Cash on hand
1,003
Checks and cash items
524

00

50
00
00
00
00
00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

Interest, rents, etc.

30
40
58
50

Schedule of Securities Owned

Shs.
45
125
60
100
75
105
100
15
75
24
35
55
60
200
150
250
50
130
76
10

$5,797,794 28

Par Value
.
.
.

legal
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Merchants National Bank, Boston
N ’l Bank of Commerce, Boston
N ’l Bank of the Republic, Boston
National Shawmut Bank, Boston
New England N ’ l Bank, Boston
Second National Bank, Boston
State National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
H a d ley Falls N ’l Bank, H olyoke
Lee National Bank, Lee .
N orth A dam s N ’l B ’k, North A dam s .
Agricultural N ’l Bank, Pittsfield
Berkshire Loan & Trust Co., Pittsfield
Pittsfield National Bank, Pittsfield
Third National Bank, Pittsfield
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .
Springfield N ’l Bank, Springfield
Housatonic N ’l Bank, Stockbridge


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

277,000 00
1,750 64
10,034 75

$5,797,794 28

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

$5,509,008 89
.

§1 6 7 ,0 0 0
1,417,000
3 85,000
9 0,000
3 4,400

00
00
00
00
00

Estimated
Market Value

Book Value

$164,320 0 0
1,428,667 50
3 74,700 0 0
8 1 ,337 50
3 4 ,400 0 0

$167,000 0 0
1 ,403,987 50
385,000 0 0
78,750 0 0
34,400 0 0

300,000

00

276,300

00

2 93,625

$ 2 ,3 93,400

00

$ 2 ,3 59,725

00

$ 2 ,3 62,762 50

$4,500
12,500

00

00
00

$4,500
12,500

00

6 ,0 0 0

00

00

6 ,0 0 0

00

7,500
10,500

00

1 0 ,0 0 0

00

1 ,0 0 0

00

$6,300
2 7,125
9,600
5,000
21,750
14,700
21,500
2 ,175
10,875
3 ,312
5,775
6,325
16,800
28,000
2 4,000
56,250
5,000
19,500
1 5 ,960
1,600

$164,000

00

$301,547

00

00

1,500
7,500
2,400
3,500
5,500

00

6 ,0 0 0

00

00
00
00
00

2 0 ,0 0 0

00

15,000
25,000
5,000
13,000
7,600

00
00
00
00
00

00

00

00
00

7,500
10,500

00

00

1 0 ,0 0 0

00

00

1,500
7,500
2,400
3 ,500
5,500

00

00
00
00
00

00

00
00
00
00
00

00

6 ,0 0 0

00

00

2 0 ,0 0 0

00

00

18,000
40,000
5,000
13,000
7,600

00

00
00
00
00

00
00
00
00

00

1 ,0 0 0

00

00

$182,000

00

No. 8]

BANK COMMISSIONER

23

Berkshire County Savings Bank — Concluded
T otal A m ount

of

L oans

on

O c t . 3 1 , 1908,

Loans on Real
Estate

R ate

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

3 % per cent.

4

“

5
5i
6

“

«
“

“
“

“

“

T otals

.
.
.

.
.
.

.

Average rate

$567,700 00
2 ,2 5 3 ,9 5 5 00
1 0 ,0 0 0

00

$2 , 0 0 0

32,0 0 0 00

00

6 ,1 0 0

00

567,700
2,4 0 5 ,7 1 0
109,000
15,000

00
00
00
00

$ 2 3 3,755 00

$40,100 00

$ 3 ,1 05,510 00

5 .2 5 per cent.

4 .7 8 per cent.

4 .9 2 per cent.

for

Y

e a r , e x c l u s iv e

Rent

Salaries
$ 1 4 ,3 0 5 32
.2 4 6 7 of 1 %

$1,200 00
0207 of 1 %
d u r in g Y e a r
. $ 9 8 2,494 22
.
15,015
$1,185,941 76
.
13,640
.
$8,133 99

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 1 { %
. $91,2 9 0 25
July, 1908, 2 % .
. 104,023 30 $195,313 55
C a s h o n D e p o s it i n B a n k s
Agricultural N ’l B ’k, Pittsfield .
Pittsfield N ’l Bank, Pittsfield
.
Third National Bank, Pittsfield .
Berkshire Loan & T r. Co., P ittsf’d

$2,021
1 ,048
550
26 ,7 7 3

96
34
10
30

M is c e l l a n e o u s
N um ber of corporators, 4 8 ; trustees, 2 2
Gross income rec’d during year . $2 6 8 ,7 2 4 38
State ta x (net) paid “
“
12,198 83
of

00

6 ,1 0 0

Total Loans

4 .9 0 per cent.

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

D ate

$2 , 0 0 0

I nterest

$ 2 ,8 3 1 ,6 5 5 00

T otal E xpen ses
A m ount paid for
% of total assets

$119,755 00
109,000 00
5,000 00

00

ate of

of

State T a x e s

Advertising
$83 40
.0 0 1 4 of 1 %

Other Expenses
$1,820 87
.0 3 1 4 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

Total
$ 17 ,40 9 59
.3 0 0 2 o f 1 %

F ix t u r e s
. $150,000
. 150,000
. 115,000
3 ,3 6 5

and

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number O ct. 3 1 , 1908 .
Average balance “
“

00
00
00
24

2 ,110
2 ,2 8 4
15,283
$360 47

St a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
786
Am ount of same
.
$1,0 7 3 ,2 6 0 00
N o. of loans on real estate .
964
Average amount of same
.
$ 2,937 40
Am ount loaned on real estate
during year
.
.
. 464,7 2 5 00
No. of new real estate loans
made during year .
167

E x a m i n a t i o n , December 1, 2

BEVERLY SAVINGS BANK, BEVEKLY
President, R . R . E n d ic o t t
Treasurer, C h a r l e s H . K il h a m
Clerk of the Corporation, C h a r l e s H . K il h a m
Board of Investment:

R . R . E n d ic o t t , J o s e p h A . W a l l i s , R
G e o r g e B u t m a n , J o seph H . B a k e r

Incorporated Feb. 2 3 , 1867.

oland

Open for business every business day, 8 .3 0
also Saturdays, 7 .3 0 to 9 p . m .

W . B otden,

a .m .

to 1 .3 0

p

.m . ;

Deposits commence to draw interest the fourth W ednesday of January, April, July and
October. Dividends are payable the fourth W ednesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF TH E

24

[Pub. Doc,

Beverly Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
$27,170
Public funds
.
Railroad bonds .
.
.
.
331,146
52,500
Telephone company bonds .
113,157
Bank and trust company stocks
5,000
Loans to counties, cities or towns .
400
“ on bank and trust co. stocks
1,862,623
“
“ real estate
“
“ personal security
561,107
60,000
Bank building and fixtures .
Real estate by foreclosure, etc.
4,653
Stocks, bonds, etc., taken to secure
20,470
indebtedness .
.
. _ .
Rents and expenses of bank build12
ing
.
.
.
.
.
Deposits in banks, on interest
24,966
Cash on hand
.
.
.
.
1,236

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

00

25
00

37

.$2,897,271 13
.

06

Interest, rents, etc.
Less current
Expenses .

68
00

.

$1,600 44
268 51

62
00

70
19
$3,064,443 50

Estimated
Market Value

Par Value

Schedule of Securities Owned

Shs.
200
63
100
200
15
18
71
87
100

$25,0 0 0 00
316,0 0 0 00
6 0,000 0 0
5 ,000 00

.
.

legal
.

60 ,0 0 0

Bank and Trust Company Stocks
Beverly National Bank, Beverly
First National Bank, Boston
National Bank of Commerce, Boston .
National Shawmut Bank, Boston
Old Colony Trust Co., Boston .
National Grand Bank, Marblehead
First National Bank, Salem
National Exchange Bank, Salem
Merchants National Bank, W orcester

of

L oans

54
5i

5*
5f
6
6i
6

*

“
“
“
“
“
“
“

T otals

“
“
“
“
“
“
“

$131,000 00
198,800 00

•
!

!

.
.
.
.
.
.

.
•
.
.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1,408 ,0 6 3 59

44 ,8 8 8 47
79,871 00

$1,8 6 2 ,6 2 3 06
4 .9 3 per cent.

00
00
00
00

$27,170
277,6 4 6
52.500
5,000

00
25
00
00

57,300 00

53.500 00

$466,000 00

$ 4 1 5,985 00

$ 4 1 5,816 25

$2 0 , 0 0 0 0 0
6,300 00
1 0 ,0 0 0

00

2 0 ,0 0 0

00

1,500 00
1,800 0 0
2 ,8 4 0 00
3 ,0 4 5 00
1 0 ,0 0 0

O c t . 31, 1908,

Loans on Real
Estate

R ate

4 per cent.
4* “
“
43. “
“

on

$ 25,000
274,4 6 0
5 4,225
5,000

Book Value

00

00

$75,4 8 5 00

T otal A m ou nt

1,331 93

63

$3,064,443 50

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

150,000 0 0
15,840 44

00
00

b e a r in g

$30,000
19,782
16,000
5 8,000
9 ,3 7 5
2 ,070
1,065
435
15,800

00
00
00

1 0 ,0 0 0

00
00
00
00
00
00

36 ,5 6 2 37
11,850 00
1,800 0 0
2 ,840 00

$ 1 5 2,527 00

$ 1 1 3,157 37

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$ 5,000 00
$ 1 6 0,000
15.000
65,739
5 0.000
7 5.000

00

00
06
00
00

400 00

135,368 62
35.0 0 0 00
25.0 0 0 00
$5 6 1 ,1 0 7

68

5 .3 3 per cent.

$2 0 , 0 0 0 0 0
15,105 00
00

15,000 00

ate of

I nterest

Total Loans

$136,000
3 58,800
15.000
1,474,202
50.000
75.000
4 4,888
215,239
35 .0 0 0
2 5.000

00
00
00
65
00
00
47
62
00
00

$ 5,400 00

$2,4 2 9 ,1 3 0 74

4 .0 7 per cent.

5 .0 3 per cent.

No. 8]

BANK COMMISSIONER
Beverly Savings Bank —
T otal E xpen ses

Am ount paid for
% of total assets

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

Y

for

Salaries
$6,483 70
.2 1 1 5 of 1 %

Advertising

$100 00
.0 0 3 3 of 1 %

Y ear
. $456,778 90
.
8 ,607
. $543,448 58
.
7,473
. $20,8 3 7 90

Other Expenses
$1,840 85
.0 601 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

d u r in g

Total
$8,4 2 4 55
.2 7 4 9 of 1 %
F ix t u r e s
. $ 60,000 0 0
.
75,000 00
.
52,750 00
4 ,312 27

and

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number Oct. 31 1908 .
Average balance
“
“
.

C a s h o n D e p o s it i n B a n k s
Beverly National B ’k, Beverly
. $23,3 9 8 08
First National Bank, Boston
.
1,568 62
M is c e l l a n e o u s
N um ber of corporators, 6 4 ; trustees, 24
Gross income rec’d during year . $144,070 16
State ta x (net) paid “
“
.
4 ,5 7 8 29
of

Concluded

e a r , EXCLUSIVE OF STATE T A X E S

Rent
—

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $53,601 90
O ct., 1 9 0 8 ,2 %
. 53 ,9 0 5 6 8 $107,507 58

D ates

25

E x a m i n a t i o n , June 5, December 7 -1 1

1,125
981
8 ,786
$329 75

S t a t is t ic s o f L o a n s
No. not exceeding $3,000 each
659
Am ount of same
.
. $823,319 0 6
N o. of loans on real estate .
789
Average am ount of same
.
$ 2,360 73
A m ount loaned on real estate
during year
.
.
. $ 2 5 4,587 83
N o. of new real estate loans
made during year .
.
99

BLACKSTONE SAVINGS BANK, BOSTON
President, L o u is A . F r o t h in g h a m
Treasurer, A r t h u r E . R
Clerk of the Corporation, J o h n F . T u r n e r
Board of Investment:

o berts

L o u is A . F r o t h in g h a m , E d w a r d A . C a r l i s l e , J o h n O ’H
H e n r y H . Sa v a g e , Joh n E . W elc h

Incorporated April 23, 1901.

Open for business every business day, 9

a .m .

to 1 .1 5

are,

p .m .

Deposits commence to draw interest the third Saturday of January, April, July and O cto­
ber. Dividends are payable M onday following the third Saturday of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
Railroad bonds .
Bank and trust company stocks
Loans on real estate
“
“ personal security
Premiums .
.
.
.
Furniture and fixtures .
Deposits in banks, on interest
Cash on hand
Checks and cash items

.
.

$28,500
42,250
1,296
275,450
39,600
2,884
1,700
43,658
1,028
672

.
.
.

L ia b il it ie s
00

74
00
00
00

Deposits .
Surplus:
Guaranty fund
Profit and loss

$433,627

83
00

53
36
06

Interest, rents, etc.
Less current
Expenses .

$51 18

$437,040 52

Schedule op Securities Owned

Public funds .
Railroad bonds

.

.
.

.
.

.

.

Shs.
Bank and Trust Company Stocks
12 Metropolitan National Bank, Boston


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

20

50 98
$437,040 52

Estimated
Market Value

Book Value

$29,0 0 0 00
43 ,0 0 0 00

$29,2 2 5 00
4 1 ,930 00

$28,500 00
4 2,250 74

$72,000 00

$ 71,155 00

$70,750 74

$ 1,440 00

$1,2 9 6 00

Par Value

.
.

86

2,663 37
698 31

$ 1 ,2 0 0

00

26

R E PO R T OF TH E

[Pub. Doc.

Blackstone Savings Bank — Concluded
T otal A m ou nt

L oans

of

5
51
5i

6

“

“

6

f

.

“

“

“

“

.

“

“

.

“

“

T otals

O c t . 3 1 , 190 8 ,

Loans on Real
Estate

Rate

4 per cent.
4i “
“

on

.

.

.

Average rate

E a c h S p e c if ie d R a t e

Loans on Personal
Security

Other Loans

$ 7 ,000 00
17,000 00
4 ,0 0 0 00

—

$1 0 6 ,0 2 0 0 0
2 ,700 00
121,950 00
4 4,780 00
-

Total Loans

$7,000 00
17,000 00

-

-

7 ,000 00

-

1 1 0 ,0 2 0

00

-

2 ,700
128,950
44,780
4 ,600

00
00
00
00

—

-

-

4 ,600 00

I n terest

of

-

$ 2 7 5,450 00

$39,6 0 0 00

-

$315,050 00

5 .3 9 per cent.

4 .7 9 per cent.

-

5 .3 1 per cent.

T otal E xpen ses
A m ount paid for
% of total assets

b e a r in g

Salaries
$1 ,0 5 0 0 0
.2 4 0 2 of 1 %

D e p o s it s a n d W it h d r a w a l s
A m ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

for

Y

e a r , e x c l u s iv e

Rent
$600 0 0
.1 3 7 2 of 1 %
Y ear
$175,083 62
1,603
$96,5 5 2 57
977
$91,4 6 0 6 8

d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 6,412 59
O ct., 1908, l f %
.
6 ,5 1 7 0 4 $12,929 63
Ca s h o n D e p o s it in B a n k s
Old Colony Trust Co., Boston
L iberty Trust Co., Boston .
First National Bank, Boston
N ew England Tr. Co., Boston .
Puritan Trust Co., Boston .
First National Bank, Reading

$ 7,379
8,729
1 0,628
9 ,4 5 9
5,059
2,401

06
95
42
98
37
75

of

State T a x e s

Advertising
$129 98
0 297 of 1 %

Other Expenses
$ 244 08
.0 5 5 8 of 1 %

Total
$2 ,0 2 4 0 6
4631 of 1 %

D e p o s it A c c o u n t
N um ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance
“
“
.

3 74
195
1,203
$360 45

St a t is t ic s o f L o a n s
N o. not exceeding $3 ,0 0 0 each
A m ount of same
.
. $122,980
N o. of loans on real estate .
Average am ount of same
.
$ 2,810
A m ount loaned on real estate
during year
.
.
. $147,880
N o. of new real estate loans
m ade during year .
.
D ate

of

62
00
98
71
00
49

E x a m i n a t i o n , January 21

M is c e l l a n e o u s
N um ber of corporators, 3 3 ; trustees, 18
Gross income rec’d during year . $17,0 1 8 67
State ta x (net) paid “
“
.
828 27

BOSTON FIVE CENTS SAVINGS BANK, BOSTON
President, W

R. E vans
Treasurer, J o s e p h C. H
Clerk of the Corporation, J o s e p h H . C a n n e l l

il m o t

olm es

Board of Investment: W i l m o t R . E v a n s , A r t h u r B . C h a p i n , C h a r l e s L . D e a n , W il l i a m
R . D u p e e , R o b e r t F . H e r r i c k , F r e d e r i c k C. M c D u f f i e , N a t h a n i e l J. R u s t
Incorporated April 7, 1854. Open for business every business day, 9 a .m . to 2
Saturdays, for deposits only, from 3 to 5 and 6 to 8 p .m .

p .m . ;

also

Deposits commence to draw interest the second W ednesd ay of January, April, July and
October.
Dividends are payable the second W ednesd ay of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

27

BAN K COMMISSIONER

No. 8]

Boston Five Cents Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s
1,797,613 31
1,166,280 50
CO
CD

Interest, rents, etc.
Less current
Expenses .

o

1 ,0 0 0

.
.

$35,917,497 03

Deposits .
Surplus:
Guaranty fund
Profit and loss
tH

$6,828,500 0 0
.4,105,000 0 0
. 485,000 0 0
. 314,000 0 0
. 634,297 0 0
. 400,000 0 0
16,902,398 75
.8,189,000 0 0
. 195,000 0 0

m

A ssets
Public funds
Railroad bonds .
Street railway bonds .
Bank and trust company stocks
Loans to counties, cities or town s
“
“ railroad companies
“
on real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
Checks and cash items

42

517 52

62,589 90

00

799,013 1 0
87,145 82
3,626 07
$38,943,980 74

$38,943,980 74

Estimated
Market Value

Par Value

Schedule op Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.

.
.
.

00

00
00

$6,562,500
3,931 ,0 0 0
485,000
634,297

2 0 0 ,0 0 0

00

2 0 0 ,0 0 0

00

637,940

00

640,000

00

00

00

$ 6,667,310
3 ,9 1 5,910
483,8 2 5
634,972

00
00

$ 6,562,500
3,971 ,0 0 0
485,000
634,297

00

2 0 0 ,0 0 0

640,000

00
00

Book Value

00

00
00
00

legal
$12,4 9 2 ,7 9 7 00 $12,5 3 9 ,9 5 7 00 $12,45 2 ,7 9 7 00

Shs.
130
47
168
200
517
50
1,000
3 65
113
400
50
100

Bank and Trust Company Stocks
Boylston National Bank, Boston
Merchants National Bank, Boston .
N ’l Bank of Commerce, Boston
National Rockland Bank, Boston .
National Shawmut Bank, Boston .
National Union Bank, Boston
Second National Bank, Boston
State National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
W inth rop National Bank, Boston .
First N ’l Bank, Marlborough .
Third National Bank, Springfield .

T otal A m ou n t

of

L oans

R ate

3^ per cent.
3f
“
“
3f
“
“
3 .8 0 “
“
3 .8 5 “
“
07

<<

<<


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

on

O c t . 31, 1908,

Loans on Real
Estate
$ 1 ,2 95,000 00
475,000 00
731,500 00

$13,000
4,700
16,800

00

00
00

2 0 ,0 0 0

00

00

00

51,700
5,000

00

$13,000
10,199
26,880
3 3,000
149,930

00

8 ,0 0 0

00

51,700
5,000

1 0 0 ,0 0 0

00

00

1 0 0 ,0 0 0

00

36,500
11,300
4 0 ,000
5,000

00

00

00

1 1 2 ,0 0 0

00

00

6,250

00

3 6,500
11,300
40,000
5,000

00

00

215,000
5 2,925
16,385

$13,000
4,700
16,800

00

2 0 ,0 0 0

00

00
00

00
00

00

00

00

00
00
00

1 0 ,0 0 0

00

2 0 ,0 0 0

00

1 0 ,0 0 0

00

$314,000

00

$663,569

00

$314,000

00

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

_

Other Loans

$ 7 ,500 00

—

—

-

-

_

—

2 0 ,0 0 0

-

-

5 0,000 00

399,0 0 0 00

00

—

00

—

ate of

I nterest

Total Loans

$ 1 ,3 02,500 00
4 75,000 00
7 31,500 00
2 0 ,0 0 0

00

50,000 00
3 99,000 00

28

R E PO R T OF THE

[Pub. Doc.

Boston Five Cents Savings Bank — Concluded
T otal A m ou nt

of

L oans

4 .5 5
4f
4f
5
5i

“
“
“

“
“
“

5f

“

“

6

“

“

6
6

i
f

“

.

“

.

Totals

and

$1,034,297 00 $26,125,695 75

4 .2 3 per cent.

4 . 8 8 per cent.

4 .71 per cent.

declared

April, 1908, 2 %
Oct., 1908, 2 %
Ca s h

on

00

75
00
00
00

for

Y

e a r , e x c l u s iv e

Rent
$9,000 00
.0231 of 1 %

i t h d r a w a l s d u r in g

Amount of deposits .
Number of same
Amount of withdrawals
Number of same
Net increase in deposits
D iv i d e n d s

Y

ear

$8,877,827 05
193,893
$9,994,371 00
173,816
. $182,569 25
Y

d u r in g

ear

$645,978 65
653,134 55 $1,299,113

D e p o s it

in

20

B anks

Commercial N ’l Bank, Boston
Eliot National Bank, Boston
Faneuil Hall N ’l Bank, Boston
First National Bank, Boston
N ’l Shawmut Bank, Boston
N ’l Security Bank, Boston .
Second National Bank, Boston
Winthrop N ’l Bank, Boston
Beacon Trust Co., Boston .
City Trust Co., Boston
.
Old Colony Trust Co., Boston
First National Bank, Malden
Pynchon N ’l Bank, Springfield

.
.
.
.
.
.
.
.
.
.
.
.
.

$26,720
50,963
35,357
50,650
122,616
42,319
139,039
94,662
47,585
133,621
30,296
25,000
180

7,000 00
150,000 00
_
-

2 0 0 ,0 0 0
-

2 0 0 ,0 0 0

00

_
-

-

of

4 .61 per cent.

St a t e T a x e s

Other Expenses
$12,494 32
.0321 of 1 %

B a n k B u il d in g

and

Book value
.
Estimated value
Assessed value .

.
.
.

Total
$94,823 84
.2435 of 1 %

F ix t u r e s

. $195,000 00
. 350,000 00
. 414,000 0 0

D e p o s it A c c o u n t s

Number opened during year
Number closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“
St a t is t ic s

49
83
10
57
03
59
81
42
37
21
50
00
18*

00
_

Advertising

of

18,338
18,491
200,269
$179 34

L oans

No. not exceeding $3,000 each
386
Amount of same
.
. $741,740 0 0
No. of loans on real estate
839
Average amount of same
. $20,145 8 8
Amount loaned on real estate
during year .
.
$1,883,800 00
No. of new real estate loans
made during year .
.
68
D ate

M is c e l l a n e o u s

Number of corporators, 50; trustees, 19
Gross income rec’d during year $1,707,849 93
State tax (net) paid “
“
.
96,040 5 4


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00

$8,189,000 00

Salaries
$73,329 52
. 1883 of 1 %
W

2 0 0 ,0 0 0

$16,902,398 75

T otal E x pen ses

D e p o s it s

—

00

00

00
00
00
00
00
00
00
75
00
00
00
00
00
00
00
00

13,550 00
-

6 ,0 0 0

Amount paid for
■% of total assets

1 0 0 ,0 0 0

5,935,847
111,500
3,636,400
300,000
6,082,625
150,000
56,000
807,333
3,284,900
493,650
786,390
25,000
743,550
302,000
305,000
2,500

3,330,600 00
—
50,000 00
242,000 00
713,900 00
447,000 00
705,000 00
25,000 00
530,000 00
302,000 00
305,000 00
2,500 00

565,333
2,371,000
46,650
81,390

Average rate

$25,000 00

00
-

1,136,000 00

Interest

Total Loans

74,797 00

-

1 0 0 ,0 0 0

.

1 0 0 ,0 0 0

$300,000 00

2,745,025 00
—

.

“

Other Loans

-

$5,561,050 00
111,500 00
2,500,400 00

.

ate of

$25,000 00

-

.
.

“

Loans on Personal
Security

_

3 .9 0 per cent. .
3 .9 2 “
“
.
4
“
“
4i
“
“
.
4i
“
“
4f
“
“
.
“
“
“

O c t . 31, 1908, b e a r i n g E a c h S p e c if ie d R
— Concluded

Loans on Real
Estate

Rate

“
“
“

on

* In liquidation.

of

E x a m i n a t i o n , January 21, 22,

29

BANK COMMISSIONER

No. 8]

BOSTON PENNY SAVINGS BANK, BOSTON
President, J o h n R

Treasurer, W i l l i a m H . D u r k e e
Clerk of the Corporation, L o u is M. C l a r k

eynolds

Board of Investment: J o h n R e y n o l d s , M a t t h e w B i n n e y , A l b e r t H . H ig g i n s ,
R ic h a r d W . H u s t e d , W il l i a m A p p l e t o n R u s t , R . E l m e r T o w n s e n d
Incorporated March 9, 1861. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 12 M.
Deposits commence to draw interest the second W ednesday of January, April, July and
October. Dividends are payable after the second W ednesd ay of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
.
.
. $55,000
193,315
Railroad bonds .
132,750
Street railway bonds .
4,578,040
Loans on real estate
2,043,250
“
“ personal security
81,000
Bank building and fixtures .
Stocks, bonds, etc., taken to secure
2,100
indebtedness .
.
.
Deposits in banks, on interest
138,353
Cash on hand
8,220
Checks and cash items
1,887

00
00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

.$6,902,820 52
.
.

00

Interest, rents, etc.
Less current
Expenses .
.

00
01
53
81

$13,379 25
2,283 42

$7,233,916 35

.
.

Far Value
$55,000 00
186,000 0 0
135,000 00

.
.

now legal
.
.

1 0 ,0 0 0

00

$386,000 00

T otal A m ount

of

L oans

Rate
4

per cent.

4Ì

4f
4f
5
5i
5i

5f
6

61
61
7
8

U

iC

it

t(

tc
a
tc
(C
u
u
u
((
u
U

u
u
u
u
u
u
u
u
a
((

Totals

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

on

O c t . 3 1 , 1908,

Loans on Real
Estate
$2 2 , 0 0 0
176,500
4,350,540

00

29,000

00

$4,578,040

b e a r in g

Estimated
Market Value

Book Value

$56,550 00
173,080 00
136,950 00

$55,000 00
183,315 00
132,750 00

9,550 00
$376,130 00

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

00

4 .9 8 per cent.

$600,000
50,000
495,000
204,250
25,000
339,000
60,000
145,000
25,000
90,000
5,000
5,000
$2,043,250

1 0 ,0 0 0

00

$381,065 00

ate of

Interest

Total Loans

00

-

00

-

00

-

00

—

00

-

$2 2 , 0 0 0
776,500
50,000
495,000
4,554,790
25,000
368,000
60,000
145,000
25,000
90,000
5,000
5,000

-

$6,621,290

-

5 .0 5 per cent.

00
00

11,095 83

$7,233,916 35

Schedule op Securities Owned

Public funds .
.
.
.
Railroad bonds
.
.
.
Street railway bonds
Bonds and notes which are not
investments
.
.
.

184,000 00
136,000 00

00

—

00

-

00

—

00

-

00

—

00

-

00

—

00

5 .0 8 per cent.

00
00
00
00
00
00
00
00
00
00
00
00
00
00

30

R E PO R T OF THE

[Pub. Doc,

Boston Penny Savings Bank — Concluded
T otal E xpen ses
Am ount paid for
% of total assets

Salaries
$20,842 08
.2 881 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$1,753 2 6
.0 2 4 2 of 1 %

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

d u r in g Y e a r
$1,4 9 0 ,2 2 9 88
.
24,619
$ 1 ,5 9 6 ,4 9 4 01
.
2 0,333
. $14 6 ,8 9 4 48

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$125,246 88
O ct., 1 9 0 8 ,2 %
127,911 73 $253,158 61
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $68,1 6 7 94
Second National Bank, Boston .
70,1 8 5 07
M is c e l l a n e o u s
N um ber of corporators, 6 3 ; trustees, 31
Gross income rec’d during year . $339,131 46
State ta x (net) paid “
“
.
11,634 78
D ate

of

of

St a t e T a x e s

Advertising
$818 23
.0 113 of 1 %

Other Expenses
Total
$4,229 54
$27,643 71
0585 of 1 %
.3821 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

F ix t u r e s
. $ 81,000 00
.
81 ,0 0 0 00
.
56,200 00

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

3 ,2 9 4
3 ,2 4 4
18,405
$375 0 5

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
114
Am ount of same
.
. $ 2 4 4,815 00
N o. of loans on real estate .
541
Average am ount of same
.
$8,462 18
Am ount loaned on real estate
during year
.
.
. $430,440 00
No. of new real estate loans
m ade during year .
.
26

E x a m i n a t i o n , April 2 7 ,2 8

BRAINTREE SAVINGS BANK, SOUTH BRAINTREE
President, B e n j . F . D y e r
Clerk of the Corporation, C. H . H
Board of Investment: B . F . D y e r , L . B . H

Treasurer, C. H . H

obart

obart

o l l is ,

W . A . M cK

ean

Incorporated March 21, 1870. Open for business every business day, 8 .3 0 a .m . to 12 m .;
2 to 4 .3 0 p .m ., except W ednesdays, from June 1 to O ct. 1, 8 .3 0 a .m . to 12 m .; also
M onday evenings, 6 to 7.30
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets

Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Telephone company bonds
Bank and trust company stocks
Loans on real estate
“
“ personal security
Deposits in banks, on interest
Cash on hand
Checks
.
.
.
.

. $25,000
. 146,635
. 23,000
. 20,000
9,302
.
10,900
. 231,379
. 67,595
8,217
1,263
1,278

00
00
00
00
50
00
00
00
61
51
70

L iabilities

Deposits .
Surplus:
Guaranty fund
Profit and loss

18,478 19
5,211 27

Interest, rents, etc.
L ess current

Expenses .

. $11,262 65

110 02

$544,571 32

Public funds .
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.
.

.
.

.
.

.

.

.
.
.

11,152 63

$544,571 32

Par Value

Schedule op Securities Owned

$509,729 23

$25,0 0 0 00
128,000 00
10,000 00

Estimated
Market Value

Book Value

$25,4 3 0 75
125,470 00
9 ,975 00

$25,0 0 0 00
126,807 50
10,000 00

BANK COMMISSIONER

No. 8]

31

Braintree Savings Bank — Concluded
Estimated
Market Value

Book Value

$ 2 0 ,0 0 0 00
13,000 00

$ 1 9 ,6 0 0 00
9 ,037 00

$20,0 0 0 00
9 ,302 50

33 ,0 0 0 00

3 2,725 00

3 2,827 50

$2 2 9 ,0 0 0 00

$ 2 2 2,237 75

$ 2 2 3,937 50

Par Value

Schedule of Securities O wn e d
Boston Terminal Com pany bonds
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
Bank and Trust Company Stocks
36 National Shawm ut Bank, Boston
15 State National Bank, Boston
7 Merchants National Bank, Boston
8 W inth rop National Bank, Boston
25 Brockton National Bank, Brockton
11 Union National Bank, W eym o u th

$5 ,4 0 0
1,500
700
800
2 ,5 0 0

00
00
00
00
00
-

$10,9 0 0 00

T o tal A mount

of

L oans

i
i

T otals

O c t . 31, 1908,

.

.
.
.

.

Average rate

-

$ 1 9 ,6 8 4 50

$ 1 0 ,9 0 0 00

E ac h Sp e c if ie d R a t e

of

I nterest

Total Loans

Other Loans

$5 ,0 0 0
164,019
12,000
81 ,7 0 0
3 6,255

00
00
00
00
00

-

31 ,7 0 0 00
30 ,6 6 0 00
$231,379 00

$67,5 9 5 00

-

$2 9 8 ,9 7 4 00

5 .1 9 per cent.

5 .5 0 per cent.

-

5 .2 5 per cent.

for

Salaries
$800 00
. 1468 of 1 %

Y

e a r , e x c l u s iv e

Rent
$150 00
.0 2 7 5 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
A m ou n t of deposits .
. $97,489 43
N um ber of same
1,633
A m ou n t of withdrawals
. $112,6 1 3 31
1,514
N um ber of same
N et increase in deposits
.
$ 4 ,089 98
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $9,6 7 0 66
July, 1908, 2 % .
.
9 ,543 20 $ 19,213 86
C a s h o n D e p o s it i n B a n k s
N ational Shawm ut Bank, Boston
N ational Granite Bank, Quincy .

$6,6 4 5 21
1,572 40

M is c e l l a n e o u s
N um ber of corporators, 3 8 ; trustees, 9
Gross income rec’ d during year . $ 2 5 ,0 4 2 47
State ta x (net) paid “
“
1,373 18


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00

$ 1 2 ,0 0 0 00
50,000 00
5,595 00

T otal E xpen ses
A m ou n t paid for
% of total assets

$5,4 0 0
1,500
700
800
2 ,500

00
00
00
00
00
50

$5 ,0 0 0 00
164,019 00

.

.
.

b e a r in g

Loans on Personal
Security

Loans on Real
Estate

R ate
4 % per cent.
5
“
“
5
“
“
5
“
“
6
“
“

on

$ 1 0 ,4 4 0
2,175
1,519
2 ,2 4 0
3 ,2 5 0
60

of

Advertising
$9 00
.0 0 1 6 of 1 %

St a t e T a x e s .
Other Expenses
$421 40
.0 7 7 3 of 1 %

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

Total
$1 ,3 8 0 40
.2 5 3 3 of 1 %

219
192
1,587
$321 19

S t a t is t ic s o f L o a n s
N o. not exceeding $3 ,0 0 0 each
1 64
A m ou n t of same
.
. $178,329 00
N o. of loans on real estate .
179
Average am ount of same
.
$1,2 9 2 62
A m ount loaned on real estate
during year
.
.
. $ 4 0 ,1 0 0 00
N o. of new real estate loans
m ade during year .
.
26
D ate

of

E x a m i n a t i o n , A ugust 28

32

REPORT OF THE

[Pub. Doc

BRIDGEW ATER SAVINGS BANK, BRIDGEW ATER
President, L a f a y e t t e K e i t h
Treasurer, S a m u e l P . G a t e s
Clerk of the Corporation, G e o r g e M . H o o p e r
Board of Investment:

J o h n H . F a i r b a n k s , P a u l O. C l a r k , E d w a r d A . H
G u s t a v e s J. L o w e , S a m u e l P . G a t e s

Incorporated March 19, 1872.

Open for business every business day, 8
2 t o 6 p .m .

a

.m .

ew ett,

to 12.30

p .m

.;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
P u b lic fu n d s
.
.
.
.
R a ilr o a d b o n d s .
.
.
.
S treet ra ilw a y b on d s
T e le p h o n e c o m p a n y b on d s
B a n k a n d tru s t c o m p a n y s to c k s .
L oa n s t o railroad com p a n ie s
on ra ilroa d stoc k s
b a n k a n d tru st c o . s to c k s
“
“ real esta te
“
“ p erson al s e cu rity
B a n k b u ild in g a n d fixtu res .
R e a l esta te b y fo re clo s u re , e tc.
T a x e s , in su ra n ce, e t c ., p a id o n
m o rtg a g e d p rop erties
D e p o s it in b a n k , o n in te re st .
Cash on h a n d
.
.
.
.

L ia b il it ie s
$69,997
2 16,505
4 0,000
13,137
48,241
10,000
250
400
3 48,576
102,473
9,718
12,500

50
00
00
50
75
00
00
00
79
63
61
00

D e p o s its .
.
S urplus:
G u a r a n ty fu n d
P r o fit a n d loss

.

.

$ 829,314 8 2
40,0 00 00
5,148 54

In te r e s t, ren ts, e t c .

.

$ 5,416 14

Less current
E xpenses .
T axes
.

$122 02
233 46

3 55 48

309 06
3,472 88
3,941 30
$879 ,5 2 4 02

Schedule or Securities Owned

Public funds .
Railroad bonds
Street railway bonds
Telephone com pany bonds
Bonds and notes which are not now legal
investments

Shs.
Bank and Trust Company Stocks
13 A bington National Bank, Abington
4 4 B oylston National Bank, Boston
10 Faneuil H a ll National Bank, Boston
15 First National Bank, Boston
55 Fourth National Bank, Boston .
10 Merchants National Bank, Boston
6 National Security Bank, Boston
69 National Shawm ut Bank, Boston
20 National Rockland Bank, Boston
22 State National Bank, B o ston
10 South E n d National Bank, Boston
60 Brockton National Bank, Brockton
22 H om e National Bank, Brockton
25 Blue H ill National Bank, Milton
8 Plym outh National Bank, Plym outh
36 Bristol County N ’l Bank, T aunton


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

5,060 66

$ 879,524 02

Estimated
Market Value

Par Value

$45,0 0 0
211,000
15,000
15,000

00
00
00
00

$46,756
212,017
14,975
13,556

25
50
00
25

Book Value

$44,997
211,505
15,000
13,137

50
00
00
50

65,000 00

66,675 00

65,000 00

$351,000 00

$ 3 5 3,980 00

$ 3 4 9,640 00

$ 1,300
4 ,400
1,000
1,500
5,500
1,000
600
6,900
2,000
2 ,200
1,000
6,000
2 ,200
2 ,500
800
3 ,600

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$42,500 00

$ 1 ,300
4 ,400
1,380
4 ,7 1 0
8 ,800
2,170
1,800
2 0,010
3 ,300
3 ,190
950
7,800
4 ,4 0 0
3,125
896
3 ,816

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$72,047 00

$ 1,300
5,546
1,000
1,500
5,875
1,000
600
10,350
2 ,770
2,200
1,000
6,000
2 ,200
2 ,500
800
3,600

00
75
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$48,241 75

33

BANK COMMISSIONER

No. 8]

Bridgewater Savings Bank — Concluded
T otal A mount

of

L oans

Totals

O c t . 31, 1908,

137,576 79

.

Average rate

$15,5 0 0
35 .0 0 0
10.000
229,6 5 0
10,000
10,000
151,550

40 0 00

250 00

00
00
00
00
00
00
42

$10,6 5 0 00

$461,7 0 0 42

5 .3 4 per cent.

5 .1 3 per cent.

4 .0 8 per cent.

5 .2 7 per cent.

for

Salaries
$ 2,000 00
.2 2 7 4 of 1 %

Y

e a r , e x c l u s iv e

Rent
—
—
d u r in g Y e a r
. $133,079 39
.
1,920
. $153,809 79
.
2,082
. $10,6 2 0 26

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $15,638 60
O ct., 1908, 2 %
. 15,712 06 $31,3 5 0 66

C a s h o n D e p o s it i n B a n k
First National Bank, Boston

.

$3 ,4 7 2 88

M is c e l l a n e o u s
Num ber of corporators, 1 5 ; trustees, 13
Gross income rec’ d during year . $43,521 75
State ta x (net) paid “
“
.
1,981 05

of

Total Loans

Other Loans

00
00
00
00
00
63

I nterest

$102,4 7 3 63

D e p o s it s a n d W it h d r a w a l s
A m ount of deposits
.
.
Num ber of same
.
.
A m ount of withdrawals
.
Num ber of same
.
.
N et increase in deposits
.

D ate

ate of

$ 3 4 8,576 79

T otal E xpen ses
A m ount paid for
% of total assets

$9 ,5 0 0
10,000
49 ,2 5 0
10,000
10,000
13,723

180,000 00

•
.

E a c h S p e c if ie d R

$10,0 0 0 00

$ 5 ,500 00
2 5 ,500 00

.
.
.

b e a r in g

Loans on Personal
Security

Loans on Real
Estate

Rate

4 per cent.
4^ “
“
4f “
“
5
“
“
5* “
“
5* “
“
6
“

on

of

Advertising

St a t e

taxes

Other Expenses
$1,619 12
.1 841 of 1 %

B a n k B u il d in g
B ook value
Estim ated value
Assessed value .
N et income

and

Total
$ 3 ,619 12
. 4 1 1 5 of 1 %

F ix t u r e s
$ 9,718
9 ,000
7 ,000
506

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

61
00
00
96

234
241
2,557
$324 33

S t a t is t ic s o f L o a n s
244
N o. not exceeding $ 3 ,0 0 0 each
. $ 2 2 7,850 42
A m ount of same
239
N o. of loans on real estate
$ 1,458 48
Average am ount of same
A m ount loaned on real estate
$ 3 0 ,4 3 0 -0 0
during year
N o. of new real estate loans
25
made during year .

E x a m i n a t i o n , August 25

BRIGHTON- FIVE CENTS SAVINGS BANK (Brighton District),
BOSTON
President, N . W

San born
Treasurer, E d w a r d D . B l is s
Clerk of the Corporation, E d w a r d D . B l is s

arren

Board of Investment: N . W a r r e n S a n b o r n , B e n j a m in M . F i s k e , W
G r a n v il l e A . F u l l e r , F r a n k G . N e w h a l l

ebster

F. W

arren,

Incorporated March 28, 1861. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m . ; and for deposits only, 7 to 9 P . M .
Deposits commence to draw interest the first Saturday of January, April, July and October
Dividends are payable M onday after the first Saturday of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

34

[Pub. Doc,

REPORT OF THE
Brighton Five Cents Savings Bank— Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
L ia b il it ie s

A ssets
. $125,000 00
P u b lic fu n d s
. 3 21,700 00
R a ilr o a d b on d s .
.
20,000 00
S treet ra ilw a y b o n d s
B o s to n T e rm in a l C o m p a n y b
s .
20,000 00
.
10,300 00
B a n k a n d tru s t c o m p a n y s to c k s
L o a n s o n real esta te
. 844 ,53 7 00
. 2 64,846 11
“
“ p erson a l s e c u r ity .
.
10,000 00
B a n k b u ild in g a n d fixtu re s .
R e a l e sta te b y fo re clo s u re , e tc.
8 ,0 0 0 00
T a x e s , in su ra n ce, e t c ., p a id o n
222 04
m o r tg a g e d p rop erties
D e p o s its in b an k s, o n in terest
.
54,085 54
5,125 84
Cash on h a n d
C hecks a n d cash item s
347 78

.$ 1 ,5 8 1 ,3 7 7 03

D e p o s its .
S u rplu s:
G u a r a n ty fu n d
P ro fit a n d loss

55,500 00
18,899 79

In te re s t, ren ts, e t c .

. $30,383 47

L e s s cu rren t

E xpenses .

.

1,995 98

$1,6 84 ,1 6 4 31

$ 1,684,164 31

Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Bonds and notes which are not now
investm ents
.
.
.
.

$12 0 ,0 0 0
322,0 0 0
10,000
2 0 ,0 0 0

.
.
.
legal
.

Shs.
Bank and Trust Company Stocks
15 Eliot National Bank, Boston
6 First National Bank, Boston
10 Merchants National Bank, Boston
10 M etropolitan National Bank, Boston
3 0 N T Market B ank of Brighton, Boston
3 Old Boston National Bank, Boston
2 Second National Bank, Boston .
13 State National Bank, Boston
12 Trem ont National Bank, Boston
10 W ebster & Atlas N T Bank, Boston
4 Union Market N T Bank, W atertow n

.
.

.

00
00
00
00

of

L oans

Si

.

“

.

.

“

6

“

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00

15,000 00

15,325 00

15,000 00

$4 7 5 ,3 2 0 00

$4 8 6 ,7 0 0 00

$1 ,5 0 0
600
1,000
1,000
3 ,0 0 0
300
200
1,300
4 20
1,000
4 00

$2 ,9 2 5
1,884
2 ,1 7 0
1,200
3 ,0 6 0
333
4 30
1,885
12
1,450
52 0

$ 1 ,5 0 0
600
1,000
1,000
3 ,0 0 0
3 00
200
1,300

00
00
00
00
00
00
00
00
00
00
00

b e a r in g

$15,869 00

$ 1 0 ,3 0 0 00

_

of

I nterest

Total Loans

-

$2 6 4 ,8 4 6 11

-

$1,1 0 9 ,3 8 3 11

5 .0 6 per cent.

5 .1 1 per cent.

-

5 .0 7 per cent.

-

19,000 00
42 ,5 7 5 00

00
00
00
00
00
00
11

Other Loans

00
00
00
00
00
00
00
00

1,000 00
4 00 00

E a c h S p e c if ie d R a t e

Loans on Personal
Security
$ 1 5 ,0 0 0
4 0 ,0 0 0
10,000
9 8 ,0 0 0
2 5,000
4 0 ,0 0 0
36 ,8 4 6

00
00
00
00
00
00
00
00
00
00
00

$844,5 3 7 00

-

$782,9 6 2 00

“

5*

$1 2 0 ,0 0 0
3 2 1 ,7 0 0
10,000
20 ,0 0 0

50
50
00
00

$ 1 5 ,0 0 0
4 0 ,0 0 0
10,000
880,9 6 2
2 5,000
5 9 ,0 0 0
79,421

—

.
.

“

Totals

.
.
.
.
.

“

O c t . 31, 1908,

Loans on Real
Estate

R ate

4^ per cent.
4+ “
“
4f “
“
5
“
“

on

$119,9 0 7
3 10,537
9 ,9 5 0
19,600

Book Value

$ 4 8 7,000 00

$10,7 2 0 00

T otal A m ount

28,387 49

—

00
00
00
00
00
00
11

BANK COMMISSIONER

No. 8]

35

Brighton Five Cents Savings Bank — Concluded
T otal E xpen ses

fob

Salaries
A m ount paid for
% of total assets

Y

e a r , e x c l u s iv e

Rent

$ 4,809 96
. 2855 of 1 %

D e p o s it s a n d W it h d r a w a l s
A m ou n t of deposits .
N um ber of same
A m ount of withdrawals
Num ber of same
N et increase in deposits

Y ear
$ 2 9 7,002 48

d u r in g

7,002
$354,056 61
5,267
$1,633 85

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $ 29,305 88
July, 1908, 2 % .
. 2 9,382 10 $58,687 98
C a s h o n D e p o s it in B a n k s
First National Bank, Boston
. $ 2 0 ,3 2 4 25
N ’l M kt. B ’k of Brighton, Boston .
33,761 29
M is c e l l a n e o u s
N um ber of corporators, 5 4 ; trustees, 12
Gross income rec’d during year . $77,8 8 8 28
State ta x (net) paid “
“
3,289 35
D ate

of

E x a m i n a t i o n , September 8

of

St a t e T a x e s

' Advertising

Other Expenses

Total

$48 00
.0 0 2 9 of 1 %

$903 51
.0 5 3 6 of 1 %

$5,761 47
.3 4 2 0 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income
.

and

.
.
.
.

F ix t u r e s
. $ 1 0 ,0 0 0
.
1 0 ,000
.
9 ,8 0 0
.
12

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

00
00
00
78

742
714
6,059
$260 99

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
225
A m ount of same
.
. $3 2 6 ,0 7 0 00
N o. of loans on real estate .
328
Average am ount of same
.
$ 2 ,5 7 4 80
A m ount loaned on real estate
during year
.
.
. $ 3 2 ,5 0 0 00
N o. of new real estate loans
m ade during year .
.
18

BRISTOL COUNTY SAVINGS BANK, TAUNTON
President, E z r a D a v o l
Treasurer, A . C. P l a c e
Clerk of the Corporation, A . C. P l a c e
Board of Investment: E z r a D a v o l , W m . H . F o x , E v e r e t t D . G o d f r e y ,
S il a s D . P r e s b r e y , E d w in A . T h o m a s
Incorporated March 2, 1846. Open for business every business day, except Saturdays,
9 a .m . to 1 p .m .; Saturdays, 9 a .m . to 4 p .m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets

L ia b il it ie s

$1,130,000
P u b lic fu n d s
1,270,000
R a ilr o a d b on d s .
.
50,000
S treet ra ilw a y b on d s
B o s to n T erm in a l C o m p a n y b o n d s . 200,000
.
157,300
B a n k a n d tru st c o m p a n y s to c k s
L o a n s t o cou n ties , cities o r to w n s . 418,000
. 140,000
“
“ ra ilroa d com p a n ie s
500
“
on
p u b lic fu n d s .
.
18,000
“
“ ra ilroa d b on d s
4.025
s
“
“ b a n k a n d tru st co . s to c kis
375
“
“ d e p o sito rs ’ b o o k s
1,412,715
“
“ real estate
1,382,366
“
“ p erson al s e cu rity
.
20,000
B a n k b u ild in g a n d fixtu res
.
62,314
D e p o s its in b an k s, o n interest
4,951
Cash o n h a n d
116
C hecks a n d cash item s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00
00
00
00
00
00
00
66
00
19
06
52

$6,270,663 43

D e p o s its .
S urplus:
G u a r a n ty fu n d
P r o fit a n d loss
In te re s t, ren ts, e tc.

.$ 5 ,8 5 6 ,0 0 1 09
.

3 00,000 00
8 7,8 34 39

. $27 ,75 5 11

L e s s cu rren t

E xpenses .

9 27 16

2 6,827 95

$6,270,663 43

REPORT OF THE

36

[Pub. Doc,

Bristol County Savings Bank — Continued

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investm ents
.
.
.
.

Shs.
100
100
100
150
100
50
100
100
100
108
100
25
15
100
100
150
200

Estimated
Market Value

Par Value

Schedule op Securities Owned

$ 9 6 0,000
1 ,270,000
5 0 ,0 0 0
200,0 0 0
418,0 0 0
30 ,0 0 0

.
.
.

legal
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Faneuil H a ll National Bank, Boston
Metropolitan National Bank, Boston
Merchants National Bank, Boston
N ’l Bank of Commerce, Boston
National R ockland Bank, Boston
National Union Bank, Boston .
Peoples National Bank, Boston
Second National Bank, Boston
State National Bank, Boston
N ’l B ank of the Republic, Boston
Trem ont National Bank, Boston
First N ’l B ’k of Easton, N o. Easton
Third National Bank, Springfield
Bristol County N ’l Bank, Taunton
Machinists National Bank, Taunton
Taunton National Bank, Taunton

.
.

00
00
00
00
00
00

2 82,082 50

280,0 0 0 00

$3,1 7 9 ,8 3 2 50

$ 3 ,2 0 8 ,0 0 0 00

$10,0 0 0
10,000
10,000
15,000
10,000
5 ,0 0 0
10,000
10,000
10,000
10,800

$14,000
13,800
12,000
32 ,5 5 0
16,000
8 ,250
16,000
12,000
2 1,500
15,660
5 ,000
25
2 ,100
2 0,000
10,600
2 1,750
2 0,400

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$158,175 00

T otal A m ount

of

L oans

T otals

O c t . 31, 1908,

Loans on Real
Estate

Rate

4 per cent.
4f “
“
4Î “
“
4f “
“
41 “
“
5
“
“
5Ì “
“
5| “
“
5Ï “
“
5Ì “
“
6
“
“
6Ì “
“
6§ “
“
6f “
“
6f “
“
7
“
“

on

Loans on Personal
Security

—

.
.

.

$ 2 4 3,625 00
162,000 00
711,905 00
4 ,5 0 0 00
-

95,0 2 5 00
.

-

195,660 00
.
.
.
.
.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-

-

.
.

-

-

—

$ 3 2 0,700
270,500
100,000
9 9 ,7 0 0
25 ,0 0 0
30 ,0 0 0
118,500
57 ,0 0 0
150,966
2 5,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$10,0 0 0
10,000
10,000
15,000
10.000
5 ,0 0 0
10,000
10,000
10,000
10,800

00
00
00
00
00
00
00
00
66
00
-

7 5,000 00
50 ,0 0 0 00
60 ,0 0 0 00

00
00
00
00
00
00
00
00
00
00
—

1,500
10,000
10,000
15,000
2 0,000

$241,635 00

00
00
00
00
00

$15 7 ,3 0 0 00

E a c h S p e c if ie d R a t e

b e a r in g

_
.
.
.
.
.
.
.
.
.

00
00
00
00
00
00

280,0 0 0 00

-

.

$9 6 0 ,0 0 0
1,270 ,0 0 0
5 0 ,0 0 0
200,0 0 0
4 1 8 ,0 0 0
3 0 ,0 0 0

$3,2 0 8 ,0 0 0 00

S75
1,500
10,000
10,000
15,000
2 0 ,000

.

00
00
00
00
00
00

$954,525
1,240,775
5 0,000
196,000
425,9 5 0
3 0 ,000

Book Value

of

Interest

Other Loans

Total Loans

$20,0 0 0
9 0 ,0 0 0
102,800
13,000

$ 2 0 ,0 0 0
90 ,0 0 0
667,125
445,5 0 0
100,000
960,1 0 5
29 ,5 0 0
30 ,0 0 0
363,525
57 ,0 0 0
3 7 8 ,2 2 6
25 ,0 0 0
2 5 ,000
7 5 ,000
5 0 ,000
6 0 ,000

00
00
00
00
-

148,500 00
-

150,000 00
3 1 ,6 0 0 00
-

25 ,0 0 0 00
-

-

00
00
00
00
00
00
00
00
00
00
66
00
00
00
00
00

$1,4 1 2 ,7 1 5 00

$1,3 8 2 ,3 6 6 66

$5 8 0 ,9 0 0 00

$3,375,981 66

5 .0 6 per cent.

5 .2 8 per cent.

5 .0 0 per cent.

5 .1 3 per cent.

BANK COMMISSIONER

No. 8]

37

Bristol County Savings Bank — Concluded
T otal E xpen ses
A m ount paid for
% of total assets

for

Y

e a r , e x c l u s iv e

Salaries

Rent

$10,8 7 7 66
. 1734 of 1 %

$158 59
. 0025 of 1 %

D i v i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$ 1 1 2,868 82
O ct., 1908, 2 i %
126,784 45 $239,653 27

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $25,033 89
N ational Shawm ut Bank, Boston
6 ,920 80
Bristol County N ’l B ank, T aunton
3 0,359 50

M is c e l l a n e o u s
N um ber of corporators, 6 1 ; trustees, 14
Gross income rec’ d during year . $ 3 0 3,986 17
State ta x (net) paid “
“
2 0,796 41

of

St a t e T a x e s

Other Expenses

Total

$1,9 0 4 44
0303 of 1 %

$ 1 2 ,9 4 0 69
.2 0 6 2 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
. $735,051 91
A m ount of deposits .
8 ,617
N um ber of same
A m ount of withdrawals
$1,0 0 6 ,7 0 6 17
N um ber of same
11,807
. $32,0 0 0 99
N et decrease in deposits

D ate

of

Advertising

and

F ix t u r e s

. $20,000 00
.
.

30,0 0 0 00
3 1 ,5 0 0 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

1,130
1 ,424
12,651
$462 89

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
391
A m ount of same
.
. $ 4 0 2 ,4 7 0 00
N o. of loans on real estate .
452
Average am ount of same
.
$3,1 2 5 47
A m ount loaned on real estate
during year
.
.
. $2 1 5 ,5 5 0 00
N o. of new real estate loans
made during year .
.
42

E x a m i n a t i o n , March 5, 6

BROADW AY SAVINGS BANK, LAW RENCE
President, W m . F. R u t t e r
Treasurer, C l i n t o n O. A n d r e w s
Clerk of the Corporation, C l in t o n O. A n d r e w s
Board of Investment: W m . F . R u t t e r , A l b e r t S. L a n g , W m . E . H
L a n g d o n E . L o c k e , W il b u r E . R o w e l l

eald,

Incorporated March 9, 1872. Open for business every business day, except Saturdays,
9 a .m . to 1 p .m .; Saturdays, 9 a .m . to 12 m ., 2 to 3 and 7 to 8 p .m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the third W ednesd ay of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b ilitie s

A ssets
P u b lic fu n ds
R a ilr o a d b on d s
S treet ra ilw a y b on d s
B a n k a n d tru s t c o m p a n y sto c k s
L oa n s t o cou n ties , cities o r to w n s
“
“ ra ilroa d com p a n ie s
“
o n b a n k a n d tru st c o . s to c k
“
“ real esta te
“
“ p erson a l s e c u r ity
.
B a n k b u ild in g and fixtu res .
D e p o s its in b an k s, o n interest
“
“
“
n o t on in terest
C ash on h a n d


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

. $272,000 00
. 4 10,762 50
.
4 8,000 00
.
55,500 00
8,000 00
.
25,000 00
s
14,450 00
2 ,393,030 00
. 395,875 00
.
40,000 00
.
9 2,804 31
5,000 00
9,068 42
$ 3,769,490 23

D e p o s its .
S urplus:
G u a r a n ty fu n d
P ro fit a n d loss
In te re s t, ren ts, e tc.

.$ 3 ,5 3 5 ,4 9 5 47
.

168,000 00
55,000 00

. $11,491 33

L e s s cu rren t

E xpenses .

496 57

10,994 76

$3,769,490 23

REPORT OF THE

[Pub. Doc,

Broadway Savings Bank— Concluded
Schedule

of

Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.
Shs.
140
100
25
5
100
140

Estimated
Market Value

Par Value

$ 2 2 2,000
401,000
43 ,0 0 0
8 ,000
2 5,000

.
.
.
legal
.

$223,812
372,350
44 ,6 6 0
8 ,000
25,187

00
00
00
00
00

L oans

78,875 00

77,937 50
$763,762 50

00
00
00
00
00
00

$40,600
16,000
3,625
725
11,100
16,100

5
5t
5i

“

“

“
“

“
“

■
.

6

“
“

“
“

.
.

7

T otals

b e a r in g

.
.

.

.

Average rate

T otal
A m ount paid for
% of total assets

$7,5 0 0 00
146,500 00
2 ,1 4 8 ,1 3 0 00

$25,0 0 0
165,000
100,350
25.0 0 0
13.000
67,525

18,150 00
7 1,850 00
900 00

E a c h S p e c if ie d R

$55,500 00

ate of

Other Loans

Interest

Total Loans

$8,0 0 0
32,5 0 0
311,5 0 0
2,2 7 5 ,3 3 0
2 5,000
3 1,150
151,975
900

2 6,850 00

12,600 00

00
00
00
00
00
00
00
00

$395,875 00

$47,4 5 0 00

$2,8 3 6 ,3 5 5 00

5 .0 0 per cent.

4 .9 4 per cent.

5 .0 9 per cent.

4 .9 9 per cent.

Y

e a r , e x c l u s iv e

expen ses

for

Salaries
$ 5,316 64
. 1410 of 1 %

Rent
—
—

C a s h o n D e p o s it i n B a n k s
N ’l Shawm ut Bank, Boston
. $ 11,731 12
Lawrence N ’l Bank, Lawrence
.
8 6 ,0 7 3 19
M is c e l l a n e o u s
N um ber of corporators, 2 2 ; trustees 19
Gross income rec’ d during year . $ 1 8 2 ,2 7 4 9 4
State tax (net) paid “
“
.
5 ,3 1 9 9 0
E x a m i n a t i o n , October 28


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00

00
00
00
00
00
00

$ 2 ,3 9 3 ,0 3 0 00

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 6 6 ,4 7 4 72
O ct., 1908, 2 %
. 6 6 ,0 7 8 41 $ 1 3 2 ,5 5 3 13

of

$ 21,000
10,000
2 ,500
500
7,500
14,000

$88,1 5 0 00

Loans on Personal
Security

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
A m ount of deposits
.
.
. $82 4 ,8 6 1 35
N um ber of same
.
.
.
9 ,3 9 7
A m ount of withdrawals
.
$ 1,0 1 1 ,0 8 5 35
Num ber of same
.
.
.
8 ,6 2 2
N et decrease in deposits
.
. $ 5 3 ,6 7 0 87

D ate

00
00
00
00
00
00

$8,0 0 0 00
.
•
.

00
00
00
00
00

$752,885 00

$ 14,000
10,000
2,500
500
7,500
14,000

O c t . 31, 1908,

Loans on Real
Estate

Rate

4 per cent.
4Ì “
“
4* “
“

on

$ 2 2 2,000
387,825
4 3,000
8 ,000
2 5,000

8 0,000 00

$48,500 00

of

50
00
00
00
50

$779,0 0 0 00
Bank and Trust Company Stocks
National Shawm ut Bank, Boston
National B ank of Commerce, Boston
W ebster & Atlas N ’l Bank, Boston
State National Bank, Boston
B a y State National Bank, Lawrence
Lawrence National Bank, Lawrence

T otal A mount

Book Value

of

St a t e T a x e s

Advertising
$49 00
0013 of 1 %

Other Expenses
$1,6 9 0 86
.0 4 4 1 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$ 7,056 50
. 1864 of 1 %

F ix t u r e s
$40,0 0 0
4 0 ,0 0 0
3 2,500
$260

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

00
00
00
86

1,532
1,579
7,809
$452 73

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
428
A m ou n t of same
.
. $69 9 ,7 8 0 00
N o. of loans on real estate .
630
Average am ount of same
.
$3 ,7 9 8 46
A m ount loaned on real estate
during year
.
..
. $1 3 8 ,6 5 0 00
N o. of new real estate loans
m ade during year .
.
47

No. 8]

BANK COMMISSIONER

39

BROCKTON SAVINGS BANK, BROCKTON
President, B a a l i s S a n f o r d
Treasurer, C h a r l e s C. C r o o k e r
Clerk of the Corporation, C h a r l e s C. C r o o k e r
Board of Investment: B a a l i s S a n f o r d , B r a d f o r d E . J o n e s , F r e d . B . H o w a r d ,
E d w ard M. T hom pson, F r e d . H . P ac k a rd
Incorporated March 3, 1881. Open for business every business day, except Saturdays,
9 a .m . to 2 p .m .; Saturdays, 9 a .m . to 12 m .; and for deposits only, 7 to 8 .3 0 p .m .
from September 15 to June 15
Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the fifteenth day of April and October
B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
.
.
.
$405,700 00
Railroad bonds .
.
.
.
838,475 00
Boston Terminal Company bonds . 100,000 00
Bank and trust company stocks .
27,500 00
Loans on real estate
. $2,016,646
Less, due on mtge. loans
22,800 1,993,846 00
Loans on personal security
.
. 739,590 00
Bank building and fixtures
.
.
88,000 00
Real estate by foreclosure, etc.
.
5,070 89
Taxes, insurance, etc., paid on mort­
gaged properties
.
.
.
826 07
Deposits in banks, on interest
. 179,718 06
Cash on hand
.
.
.
.
12,498 59
Checks and cash items
.
.
606 4b

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.
.
.

.
.

Shs.
25
9
2 00
50

.
.
legal
.

Bank and Trust Company Stocks
National Shawm ut Bank, Boston
Trem ont National Bank, Boston
Brockton National Bank, Brockton
H om e National Bank, Brockton

.

Par Value

Estimated
Market Value

Book Value

$40 5 ,7 0 0 00
843.0 0 0 00
100.000 00

$403,091 00
799,475 00
9 8 ,0 0 0 00

$4 0 5 ,7 0 0 00
832,475 00
100,000 00

6 ,000 00

6 ,000 00

6 ,0 0 0 00

$ 1 ,3 5 4 ,7 0 0 00

$1,3 0 6 ,5 6 6 00

$1,3 4 4 ,1 7 5 00

$2,5 0 0
315
2 0,000
5 ,0 0 0

$7 ,2 5 0
9
26 ,0 0 0
10,000

00
00
00
00

$ 27,815 00

T otal Am ount

of

L oans

on

O c t . 31, 1908,

Loans on Real
Estate

R ate

43.

“

“

5
5J
5*
5f
5f

“

“

.

.

$7 8 2 ,5 0 0 00
7 0,000 00
950,1 4 6 00

“
“
“
“
“

“
“
“
“
“

.
.

.
.

69,425 00

4 £ per cent.

6

Totals

.
.

.
.

.

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-

121,775 00

6,145 43
206 67

$4,391,831 01

I

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Boston Terminal Com pany bonds
Bonds and notes which are not now
investments
.
.
.
.

175,000 00
36,838 91

Interest, rents, etc.
. $6,807 92
Less current
Expenses .
.
.
662 49
Balance due on foreclosure sale .

$4,391,831 01

Schedule op Securities Owned

$4,173,640 00
.
.

b e a r in g

$2 ,5 0 0 00

$43,259 00

$27,5 0 0 00

E a c h S p e c if ie d R

Loans on Personal
Security
$ 2 4 5,500 00
—

217,9 4 0
50,0 0 0
125,500
13,000
6 5,000
2 2,650

00
00
00
00

Other Loans

_

ate of

I nterest

Total Loans

-

$1,0 2 8 ,0 0 0
7 0,000
1,168,086
5 0 ,0 0 0
194,925
13,000
65 ,0 0 0
144,425

-

00
00
00
00
00
00

20 ,0 0 0 00
5 ,0 0 0 00

—
—
-

00
00
00
00
00
00
00
00

$ 1 ,9 9 3 ,8 4 6 00

$7 3 9 ,5 9 0 00

-

$2,7 3 3 ,4 3 6 00

4 .8 5 per cent.

5 .0 4 per cent.

-

4 .9 2 per cent.

REPORT OF THE

40

[Pub. Doc

Brockton Savings Bank — Concluded
T otal E xpen ses

Salaries
A m ount paid for
% of total assets

fob

Y

e a k , e x c l u s iv e

Rent

$9 ,3 2 0 03
.2 1 2 2 of 1 %

$1 ,2 0 0 00
.0 2 7 3 of 1 %

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N e t decrease in deposits
.

d u r in g Y e a r
$ 1 ,1 2 6 ,8 2 7 57
.
19,074
$1,3 1 6 ,4 2 3 60
.
17,585
. $37,7 8 5 40

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$75,8 4 5 19
O ct., 1908, 2 %
. 75,965 44 $ 1 5 1,810 63
C a s h o n D e p o s it i n B a n k s
City Trust Co., Boston
.
. $53,461 73
Brockton N ’l Bank, Brockton
.
5 4,229 19
H om e National Bank, Brockton .
7 2 ,027 14
M is c e l l a n e o u s
N um ber of corporators, 5 9 ; trustees, 17
Gross income rec’d during year . $ 1 9 4,977 87
State ta x (net) paid “
“
9 ,9 0 5 41
D ate

of

of

St a t e T a x e s

Advertising

Other Expenses

$420 00
.0 0 9 6 of 1 %

$ 1,537 39
0350 of 1 %

B a n k B u il d in g
B ook value
E stim ated value
Assessed value .
N e t income

and

Total
$ 1 2 ,4 7 7 42
.2 8 4 1 of 1 %

F ix t u r e s

. $88,000 00
. 110,000 00
.

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

107,650 00
2 ,3 4 0 02

2,356
2,363
15,265
$273 41

S t a t is t ic s o f L o a n s
N o. not exceeding $3 ,0 0 0 each
409
A m ount of same
.
. $620,221 00
N o. of loans on real estate .
498
Average am ount of same
.
$4 ,0 0 3 71
A m ount loaned on real estate
during year
.
.
. $ 1 4 9,325 00
Num ber of new real estate loans
m ade during year .
.
29

E x a m i n a t i o n , August 27, 28

BROOKLINE SAVINGS BANK, BROOKLINE
President, C h a r l e s H . S t e a r n s
Clerk of the Corporation, W
Board of Investment:

m.

Treasurer, W
E . L in c o l n

m.

E . L in c o l n

A l f r e d E . K e n r ic k , H o r a c e Ja m e s , E d w a r d M . F a r n s w o r t h ,
Ja m e s H . B o o d y , Ch a r l e s H . S t e a r n s

Incorporated Feb. 24, 1871. Open for business every business day, 9 a .m . to 1 p .m .; also
M ondays and W ednesdays, 3 to 5 p .m .; Saturdays, except in August, 6 to 8 p .m .
Deposits commence to draw interest the second M onday of January, April, July and
October. Dividends are payable after W ednesday following the second M onday of
January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
ASSETS ,
$117,740
Railroad bonds .
.
.
1,194,742
Street railway bonds .
.
. 199,255
Telephone company bonds
.
. 110,728
Bank and trust company stocks .
525
Loans on railroad bonds
.
. 50,000
“
“ bank and trust co. stocks
3,500
“
“ real estate
. $2,403,976
Less, due on mtge. loans
6,000 2,397,976
Loans on personal security .
1,319,887
Bank building and fixtures
.
. 25,723
Real estate by foreclosure, etc.
. 162,474
Taxes, insurance, etc., paid on mort­
gaged properties
.
.
.
1,131
Deposits in banks, on interest
. 110,681
Cash on hand
.
.
.
.
4,159
Checks and cash items
.
.
836


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L ia b il it ie s

76

Deposits .
Surplus:
Guaranty fund
Profit and loss

00

Interest, rents, etc.
Less current
Expenses .

25
60

00

00
00
00

.$5,528,412
.

111,260
12,501

. $50,859 41
.

3,671 36

47,188

50
68
62
35
36
52
41

$5,699,362 05

$5,699,362 05

BANK COMMISSIONER

No. 8]

41

Brookline Savings Bank — Concluded

Public funds .
.
.
.
Railroad bonds
.
.
.
Street railway bonds
.
.
Telephone com pany bonds
Bonds and notes which are not
investm ents
.
.
.

Estimated
Market Value

Par Value

Schedule op Securities Owned

.
.

$1 2 0 ,0 0 0
1,123 ,8 0 0
80 ,0 0 0
123.000

.
.
.

.

now legal
.
.

00
00
00
00

$1 1 7 ,1 0 0
1,107,405
82 ,8 0 0
111,161

147.000 00

Book Value

00
50
00
25

$1 1 7 ,7 4 0
1 ,151,453
83 ,3 6 0
110,728

25
20
00
76

1 59,184 40

151,160 00

$ 1 ,5 9 3 ,8 0 0 00 $ 1 ,5 6 9 ,6 2 6 75 $ 1 ,6 2 2 ,4 6 6 61
Shs.
Bank and Trust Company Stocks
15 T rem ont National Bank, Boston
75 Central National Bank, Boston .

T otal A mount

of

L oans

R ate

2 £ per cent.
3
“
“
4
“
“
4i “
“
4f “
“
5
“
“
5i “
“
5* “
“
5f “
“
6
“
“
6i “
“
6f “
“
7

“

“

Totals

.
.

.

.

.

.
.

.
.

.
.

.
.

.
.

.
.

.
.
.

.
.

on

O c t . 31, 1908,

.

$525 00

E a c h S p e c if ie d R a t e

$25,0 0 0 00

00
00
00
00
00
-

6 0,600 00
-

11,350 00

'

-

4 9 5 ,0 0 0
130,000
169,500
75,000
140,000
25 ,0 0 0
142,087
42,8 0 0
7 0,000
5 ,5 0 0

Other Loans

—

—

—

00
00
00
00
00
00
50
00
00
00

I nterest

Total Loans

_

—

of

$25,0 0 0
2 6,500
7 2,500
913,0 0 0
147,000
2 ,0 1 5 ,0 2 6
7 5,000
200,6 0 0
2 5,000
153,437
42,8 0 0
7 0,000
5 ,5 0 0

$ 5 0 ,0 0 0 00
-

3 ,500 00
—
—
-

-

00
00
00
00
00
00
00
00
00
50
00
00
00

$ 2 ,3 9 7 ,9 7 6 00

$ 1 ,3 1 9 ,8 8 7 50

$53,5 0 0 00

$3,7 7 1 ,3 6 3 50

4 .8 9 per cent.

5 .0 8 per cent.

4 .5 3 per cent.

4 .9 5 per cent.

for

Salaries
$8 ,0 9 7 98
. 1421 of 1 %

Y

e a r , e x c l u s iv e

Rent

d u r in g Y e a r
$ 1 ,0 2 5 ,0 9 7 48
.
17,512
$ 1 ,0 4 2 ,7 2 7 28
.
11,206
$1 8 5 ,6 8 4 12

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $57,371 18
N ’l Shawm ut Bank, Boston
.
3 1,707 92
Brookline N ’l Bank, Brookline .
21 ,6 0 2 26
M is c e l l a n e o u s
N um ber of corporators, 3 6 ; trustees, 16
Gross income rec’ d during year . $268,5 2 8 42
State ta x (net) paid “
“
1 4,214 06
E x a m i n a t i o n , April 29, 30


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 1,515 00

b e a r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
$ 1 0 0,458 72
July, 1908, 2 % .
102,855 20 $203,313 92

of

$7 ,6 5 0 00

_
$26,5 0 0
7 2,500
368,000
17,000
1 ,842,026

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

Da t e

$525 00

Loans on Personal
Security

T otal E xpen ses
Am ount paid for
% of total assets

$15 00
1,500 00

Loans on Real
Estate

-

Average rate

$525 00
7,125 00

of

Advertising
$59 00
.0 0 1 0 of 1 %

St a t e T a x e s
Other Expenses
$2,291 80
0402 of 1 %

B a n k B u il d in g
B ook value
.
Estim ated value
Assessed value .

and

.
.
.

Total
$10,4 4 8 78
. 1833 of 1 %

F ix t u r e s
. $25,723 68
.
3 0 ,0 0 0 00
.
22,0 0 0 00

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

1,998
1,606
15,812
$349 63

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
127
A m ount of same
.
. $ 2 2 3 ,5 0 0 00
N o. of loans on real estate .
323
Average am ount of same
.
$7 ,4 2 4 00
A m ount loaned on real estate
during year
.
.
. $ 1 5 0,900 00
N o. of new real estate loans
m ade during year .
.
23

42

R E PO R T OF THE

[Pub. Doc,

CAMBRIDGE SAVINGS BANK, CAMBRIDGE
President, J o h n T . G . N ic h o l s
1
Treasurer, O s c a r F . A l l e n
Clerk of the Corporation, O s c a r F . A l l e n
Board of Investment:

E d w i n D r e s s e r , J o h n T . G. N ic h o l s , E d w a r d R . C o g s w e l l ,
E n och B e a n e , Jam es F. P e n n e ll

Incorporated April 2, 1834. Open for business every business day, 8 a .m . to 1
the first Thursday in each m onth, for deposits only, 3 to 5 p .m .

p .m .;

also

Deposits commence to draw interest the fourth Thursday of January, April, July and
October. Dividends are payable the Friday after the fourth Thursday of January
and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“
on railroad stocks
“
“ depositors’ books .
“
“ real estate
“
“ personal security
Bank buildins: and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand
Checks
.
.
.
.

. $368,350 00
. 718,465 00
. 306,000 00
.
50,000 00
.
33,705 00
.
21,000 00
.
55,000 00
875 00
250 00
3,257,052 00
. 853,700 00
.
66,500 00
8,595 52
.
35,217 72
5,000 00
5,922 41
654 53
$5,786,287 18

Shs,
100
30
5
46
58
48
60
46
25

.

legal
.

Bank and Trust Company Stocks
Merchants .National Bank, Boston
National Rockland Bank, Boston
National Union Bank, Boston .
State National Bank, Boston
Trem ont National Bank, Boston
Charles R iver N ’l Bank, Cambridge
First National Bank, New Bedford
Newton National Bank, New ton
Naum keag National Bank, Salem


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

259,500 00
250,430 31

. $69,063 33
.

4,418 92

64,644 41

$5,786,287 18

•

$ 3 6 8,500
717,165
256,000
50,0 0 0
21,0 0 0
5 5,000

.

.$5,211,712 46
.
.

Interest, rents, etc.
Less current
Expenses .
,

Estimated
Market Value

Par Value

Schedule or Securities Owned

Public funds .
.
.
.
.
Railroad bonds
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

00
00
00
00
00
00

$ 3 6 0,727
7 00,594
254,3 8 0
49 ,0 0 0
20 ,4 9 0
55 ,1 2 0

50
98
00
00
00
00

Book Value

$ 3 6 8,350
706,465
256,0 0 0
50 ,0 0 0
21 ,0 0 0
5 5 ,0 0 0

00
00
00
00
00
00

62,0 0 0 00

63 ,3 9 0 00

62 ,0 0 0 00

$1,5 2 9 ,6 6 5 00

$1,5 0 3 ,7 0 2 48

$1,5 1 8 ,8 1 5 00

$10,0 0 0
3 ,0 0 0
500
4 ,6 0 0
2 ,030
4 ,8 0 0
6 ,000
2 ,3 0 0
2 ,500

$21,7 0 0
4 ,9 5 0
800
6 ,670
58
9 ,6 0 0
7 ,740
2 ,300
3 ,625

$ 10,000
3 ,0 0 0
500
4 ,6 0 0
5
4 ,8 0 0
6 ,000
2 ,300
2 ,500

00
00
00
00
00
00
00
00
00

$35,7 3 0 00

00
00
00
00
00
00
00
00
00

$57,443 00

00
00
00
00
00
00
00
00
00

$33,705 00


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

44

R E PO R T OF THE

[Pub. Doc,

Cambridgeport Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
.
.
.
$867,145
Railroad bonds .
.
.
.
455,387
Street railway bonds .
.
. 106,712
Boston Terminal Company bonds . 212,000
Telephone company bonds .
.
21,875
Bank and trust company stocks
. 17,400
Loans on public funds .
.
.
2,500
“
“ real estate
.
.
3,299,016
“
“ personal security .
.
5,000
Bank building and fixtures .
. 269,000
Real estate by foreclosure, etc.
. 200,903
Taxes, insurance, etc., paid on mort­
gaged properties
.
.
.
2,187
Deposits in banks, on interest
.
74,663
Cash on hand
.
.
.
.
5,987
Checks and cash items
.
.
746

00

50
50
00
00
00
00
10

00
00
32

Deposits .
.
Surplus
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

$5,540,524 57

Estimated
Market Value

Par Value
.
.
.

$783,000
436,000
105,000
200,000
2 5,000

legal
.

Shs.
Bank and Trust Company Stocks
50 Trem ont National Bank, Boston
14 National City Bank, Cambridge
100 H arvard Trust Co., Cambridge

00
00
00
00
00

$753,472
418,375
106,650
196,000
22,593

L oans

T otals

O c t . 3 1 , 190 8 ,

Loans on Real
Estate

R ate

3^- per cent.
4
“
“
4\ “
“
44 “
“
5" »
«
5i “
“
6
“
“

on

.
.
.
.
.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.
.

$ 85,000
78 ,5 0 0
6 3 ,000
1,151,351
1,9 1 2 ,0 6 5
1,500
7 ,6 0 0

00
00
00
00
10
00
00

Book Value

50
00
00
00
75

$783,145
427,687
106,712
2 12,000
21,875

00
50
50
00
00

114,000 00

111,850 00

111,700 00

$ 1 ,6 63,000 00

$1,608,941 25

$ 1,663,120 00

$1,750 00
1,400 00
10,000 00

$50 00
1,750 00
16,500 00

$1,000 00
1,400 00
15,000 00

$18,300 00

$17,400 00

$13,150 00 ,

of

44,831 62

06
76
98
35

Schedule of Securities Owned

T otal A m ou nt

269,966 84
7,666 54

Interest, rents, etc.
. $53,719 50
Less current
Expenses
$5,026 11
Taxes
.
3,861 77 8,887 88

$5,540,524 57

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Bonds and notes which are not now
investments
.
.
.
.

.$5,218,059 57
.

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$ 5,000 00
$2 ,5 0 0 00

$ 3 ,2 9 9 ,0 1 6 10

$ 5 ,000 00

$ 2,500 00

4 .7 5 per cent.

5 .0 0 per cent.

6 .0 0 per cent.

ate of

I nterest

Total Loans

$85,000
7 8,500
63,000
1,151,351
1,917 ,0 6 5
1,500
10,100

00
00
00
00
10
00
00

$ 3 ,3 0 6 ,5 1 6 10
4 .7 5 per cent.

BANK COMMISSIONER

No. 8]

45

Cambridgeport Savings Bank — Concluded
T otal E xpen ses

for

Salaries

Y

e a r , e x c l u s iv e

Rent

Am ount paid for
$9,871 9 4
% of total assets .1 7 8 2 of 1 %

$3,200 00
.0 5 7 8 of 1 %

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits
.
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

d u r in g

$7 ,0 9 4
7,157
5,116
7,683
47,612

69
03

22
77
05

M is c e l l a n e o u s
N um ber of corporators, 3 9 ; trustees, 16
Gross income rec’d during year . $2 1 9 ,1 2 5 23
State ta x (net) paid “
“
.
7 ,073 85
of

Other Expenses
$1,579 98
.0 2 8 6 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

Total
$14,709 17
2 656 of 1 %

F ix t u r e s
. $269,000
. 200,000
. 209,200
2 ,2 3 5

an d

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal num ber O ct. 3 1 , 1908 .
Average balance “
“
.

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, l f %
. $ 86,797 57
July, 1908, 2 %
. 98 ,0 5 8 85 $184,856 42

D ate

St a t e T a x e s

$57 2 5
.0 0 1 0 of 1 %

Y ear
. $912,859 36
.
1 9,244
$ 1 ,1 5 1 ,6 5 6 21
.
18,992
. $53,9 4 0 43

C a s h o n D e p o s it i n B a n k s
Charles R iver N ’l B ’k, Cambridge
N ational City Bank, Cambridge .
Cambridge Trust Co., Cambridge
Central Trust Co., Cambridge
.
H arvard Trust Co., Cambridge .

of

Advertising

00
00
00
60

1,733
1,889
17,921
$291 17

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
463
A m ount of same
.
. $638,590 43
N o. of loans on real estate .
540
Average am ount of same
.
$6,109 29
Am ount loaned on real estate
during year
.
.
. $ 3 2 8,260 00
N o. of new real estate loans
made during year .
.
46

E x a m i n a t i o n , January 30, 31

CANTON INSTITUTION FOR SAVINGS, CANTON
President, W

S. S h e p a r d
Treasurer, W
Clerk of the Corporation, N a t h a n i e l W . D u n b a r

il l is

Board of Investment:

alter

A m es

F r a n c is D . D u n b a r , W i l l i s S. S h e p a r d , T h o m a s E . G r o v e r ,
E dw ard H . R . R e v e r e , H en ry F. B u sw ell

Incorporated March 4, 1835. Open for business every business day, except Saturdays,
8 a .m . to 12 m ., 1.30 to 4 p .M .; Saturdays, 8 a .m . to 12 m .
Deposits commence to draw interest the first day of January, April, July, and October
Dividends are payable the first Tuesday of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00

GO

. $93,000 00
. 205,800 00
.
19,000 00
.
13,107 50
.
12,000 00
.
38,800 00
. 242,367 14
. 122,400 00
1,100 00
.
23,662 50
1,940 13
41 00
Io

A ssets
Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
“ on real estate
“
“ personal security .
Real estate in possession
Deposits in banks, on interest
Cash on hand
Checks and cash items

27

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss
Interest, rents, etc.
Less current
Expenses .

$707,817 45
40,000 00
23,922 25
.

$1,657 57
179 00

1,478 57

$773,218 27

46

R E PO R T OF TH E

[Pub. Doc,

Canton Institution for Savings — Concluded
Par Value

Schedule of Secubities Owned

Public funds
Railroad bonds
Street railway bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

$83,000
207,000
19,000
15,000
38,800

00
00
00
00
00

L oans

4

H

per cent.
“

“

“

“

“

“

5f

“
“
“
“

“
“
“
“

6
6è
6f

T otals

.

.

.
.

.

.
.
.

.
.

.

Average rate

$10,000
2 1,000
141,517
19,300

50,550 00

1 0 ,0 0 0 00

$3,768
1,160
4,050
5,250

00
00
00
00

$ 1 ,2 0 0 0 0
800 0 0
5,000 0 0

$14,228 0 0

$ 1 2 ,0 0 0 00

E a c h S p e c if ie d R

b e a r in g

5,000 00

ate of

Other Loans

$23,000
4 6.000
160,517
39 ,3 0 0
35 .0 0 0
54,750
25 .0 0 0
20 .0 0 0

$13,000 00
$25,000
18,200
2 0,000
3 5.000
4,200

00
00
00
00
00

800 00

$ 2 4 2,367 14

$122,400 00

$ 38,800 00

5 .1 1 per cent.

5 .5 1 per cent.

4 .9 9 per cent.

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

for

Y

e a r , e x c l u s iv e

Rent
$139 50
.0 1 8 0 of 1 %
d u r in g Y e a r
.
$92,656 80
.
1,436
. $133,483 32
.
2 ,0 0 4
. $ 13,660 40

D i v i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $13,610 45
O ct., 1908, 2 %
. 13,555 67 $27,1 6 6 12
Ca s h o n D e p o s i t i n B a n k s
First National Bank, Boston
.
Neponset National Bank, Canton

$ 1 1 ,0 9 4 69
12,567 81

M is c e l l a n e o u s
N um ber of corporators, 2 7 ; trustees, 14
Gross income rec’d during year . $36,312 76
State ta x (net) paid “
“
.
2 ,190 46

of

St a t e T a x e s

Advertising
$210 00
.0271 of 1 %

Other Expenses
$321 3 4
.0 4 1 5 of 1 %

Interest

Total Loans

25 ,0 0 0 00

Salaries
Am ount paid f or
$2,000 00
% of total ass«its .2 5 8 6 of 1 %

50
00

$369,707 50

2 0.000 00

T otal E x pen ses


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

25
00

00
00
00

1 0 ,0 0 0 0 0

Loans on Personal
Security

00
00
14
00

$83,000
205,800
19,000
13,107
38,800

00
00
00

$368,456 25

$ 1 ,2 0 0 0 0
800 0 0
5,000 0 0
5,000 0 0

O c t . 31, 1908,

Loans on Real
Estate

R ate

5

on

$ 83,255
202,880
19,965
13,556
38,800

1 0 ,0 0 0 0 0

$ 1 2 ,0 0 0 0 0

of

Book Value

$372,800 0 0
Shs.
Bank and Trust Company Stocks
12 First National Bank, Boston
8 W ebster & A tlas N ’l Bank, Boston
50 Neponset National Bank, Canton
60 Dedham National Bank, Dedham

T otal A m ou nt

Estimated
Market Value

00
00
14
00
00
00
00
00

$403,567 14
5 .1 2 per cent.

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

Total
$ 2 ,670 84
.3 4 5 2 of 1 %

261
315
2,629
$269 23

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
121
Am ount of same
.
. $129,117 14
N o. of loans on real estate .
134
Average am ount of same
.
$ 1,808 71
A m ount loaned on real estate
during year
.
.
.
$2,600 00
N o. of new real estate loans
made during year .
.
4
D ate

of

E x a m i n a t i o n , February 28

BANK COMMISSIONER

No. 8]

47

CAPE AN N SAVINGS BANK, GLOUCESTER
President, S y l v e s t e r C u n n in g h a m
Treasurer, D a n i e l T . B a b s o n
Clerk of the Corporation, D a n i e l T . B a b s o n
Board of Investment:

S y l v e s t e r C u n n in g h a m , R o b e r t R . F e a r s , J o h n J. P e w ,
F red A . B a r k e r

Incorporated April 15, 1846. Open for business every business day, 9 a .m . to 3
Saturdays, 6.30 to 8.30 p .m . ; during August, 9 a .m . to 1 p .m .

p .m .;

also

Deposits commence to draw interest the third business day in January, April, July and
October. Dividends are payable the first day of M ay and N ovem ber

B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
As&1/lsi
. $32,977
Railroad bonds .
.
.
.
111,914
Street railway bonds .
.
. 30,000
Telephone oompany bonds .
. 17,375
Bank and trust company stocks .
58,553
Loans to counties, cities or towns .
25,012
“
“ railroad companies
. 79,980
“
on bank and trust co. stocks
850
“
“ real estate
.
.
1,569,247
“
“ personal security .
. 746,235
Bank building and fixtures .
. 57,000
Real estate by foreclosure, etc.
.
15,538
“
“
in possession
.
. 37,337
Taxes, insurance, etc., paid on mort­
gaged properties
.
.
.
237
Deposits in banks, on interest
. 76,508
Cash on hand
.
.
.
.
9,172
Checks and cash items
.
.
819

50
50
00

00

00
15
50

00

84
58

00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

.

Interest, rents, etc.
. $20,770 58
Less current
765 98
Expenses .
Suspense account
Due on foreclosed properties

66

47
$2,868,760 47

Par Value

.
.
.

legal
.

Bank and Trust Company Stocks
N ’l Bank of Commerce, Boston
Merchants National Bank, Boston
National Shawmut Bank, Boston
New England National Bank, Boston
Old Boston National Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W ebster and Atlas N ’l Bank, Boston .
Cape Ann N ’l Bank, Gloucester
Gloucester N ’l Bank, Gloucester


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

20,004 60
2,563 46
220 01

98
54

Schedule of Securities Owned

Shs.
100
100
50
50
25
50
37
25
16
61
34

150,000 00
29,458 30

48
27

$2,868,760 47

Public funds .
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

.$2,666,514 10

$33,000
112,000
2 0,000
2 0,000
2 5,000
50,000

00
00
00
00
00
00

Estimated
Market Value

Book Value

$33,000
109,180
19,900
18,075
25,000
50,000

$32,977
111,914
20,0 0 0
17,375
2 5,012
5 0,000

00
00
00
00
00
00

50
50
00
00
15
00

40,000 00

40,100 00

3 9,980 50

$300,000 00

$295,255 00

$297,259 65

$10,000
10,000
5,000
5,000
2 ,500
5,000
3 ,700
875
1,600
6,100
3 ,400

00
00
00
00
00
00
00
00
00
00
00

$ 53,175 00

$16,000
21,700
14,500
7,000
2,775
10,750
5,365
25
2,320
9 ,150
3,400

00
00
00
00
00
00
00
00
00
00
00

$92,985 00

$10,000
10,000
10,000
5 ,000
2 ,500
5,000
4 ,0 5 5
875
1,600
6,100
3,423

00
00
00
00
00
00
00
00
00
00
00

$58,553 00

REPORT OF THE

48

[Pub. Doc,

Cape Ann Savings Bank — Concluded
T otal A m ount

of

L oans

4i

“

“

4f
4f
5
5i
5f
6

«
“

“
“

“

“

“

“
“
“

“
“

6i

“

“

7

“

“

T otals

O c t . 31, 1908,

Loans on Real
Estate

R ate

4 per cent.
4i “
“
4f “
“

on

.
.
.
.
.
.

-

44,000 00
-

426,033 11
4 5,950 00

.

-

9 6 6 ,3 1 4 73
.
.
.

Average rate

.
.

-

2 ,5 0 0 00

$ 31,000
10,000
2 5,000
72,000
4 0,000
70,500
8 9,393
114,350
2 5,000
218,9 9 2
2 5,000
2 5,000

—
-

54,980 50
-

2 5,850 00
-

-

5 .5 6 per cent.

5 .3 5 per cent.

5 .0 9 per cent.

for

Y

e a r , e x c l u s iv e

Rent
$828 84
.0 2 8 8 of 1 %

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $50,033 92
O ct., 1908, 2 %
. 5 0,482 78 $1 0 0 ,5 1 6 70
C a s h o n D e p o s it i n B a n k s
National Shawmut Bank, Boston
Cape A n n N ’l Bank, Gloucester .
Gloucester N ’l Bank, Gloucester .

$64,968 80
852 48
10,687 26

M is c e l l a n e o u s
Num ber of corporators, 3 9 ; trustees, 11
Gross income rec’d during year . $138,881 42
State ta x (net) paid “
“
.
4 ,418 49

$115,450
10,000
5 0,012
116,000
4 0 ,000
70,500
570,406
160,300
2 5 ,000
1,211,157
2 5 ,000
2 7 ,500

-

$25,012 15

$105,842 65

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $358,497 41
N um ber of same
7,291
A m ount of withdrawals
$508,767 90
N um ber of same
8 ,755
N et decrease in deposits
$49,753 79

of

00
00
00
00
00
00
25
00
00
33
00
00

$ 2 ,4 2 1 ,3 2 6 07

of

St a t e T a x e s
Other Expenses
$1 ,9 4 6 93
.0 6 7 5 of 1 %
and

.
.
.

00
00
15
00
00
00
86
00
00
06
00
00

5 .4 7 per cent.

Advertising
$106 55
0037 of 1 %

B a n k B u il d in g
Book value
.
E stim ated value
Assessed value .

Interest

Total Loans

$746,235 58

Salaries
A m ount paid for
$5,883 19
% of total assets .2 0 5 0 of 1 %

ate of

Other Loans

$1,5 6 9 ,2 4 7 84

T otal E xpen ses

D ate

E a c h S p e c if ie d R

Loans on Personal
Security

$84,450 00
.
.
.
.
.
.
•
.

b e a r in g

Total
$ 8 ,765 51
.3 0 5 0 of 1 %

F ix t u r e s
. $57,000 00
.
60,000 00
.
5 0,000 00

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance
“
“
.

927
1 ,194
9 ,3 3 3
$285 70

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
810
A m ount of same
.
. $937,641 90
N o. of loans on real estate .
844
Average am ount of same
.
$1,859 29
A m ount loaned on real estate
during year
.
.
. $89,9 2 5 0 0
N o. of new real estate loans
m ade during year .
.
64

E x a m i n a t i o n , M ay 28, 29

CAPE COD F IV E CENTS SAVINGS BANK, H ARW ICH
President, A l e x a n d e r T . N e w c o m b
Treasurer, A l p h o n s o L . W
Clerk of the Corporation, A l p h o n s o L . W e e k e s

eekes

Board of Investment: A l e x a n d e r T . N e w c o m b , E l e a z e r K . C r o w e l l , J o s h u a C r o w e l l ,
H e n r y H . F i s k , O l i v e r E . E l d r i d g e , A u g u s t u s C. S n o w
Incorporated March 16, 1855.

Open for business every business day, 9

a .m .

to 1

p .m .

Deposits commence to draw interest the second W ednesd ay of January, April, July and
October. Dividends are payable the second W ednesd ay of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

49

Cape Cod Five Cents Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
.
.
.
.
Railroad bonds .
.
.
.
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
on railroad bonds
“
“ railroad stocks
bank and trust co. stocks
“ real estate
“
“ personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
in possession
Taxes, insurance, etc., paid on mortgaged properties
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Deposit in bank, on interest .
Cash on hand
.
.
.
.
Checks and cash items

$20,000
273,125
13,500
19,301
113,688
46,000
25,000
500
327,515
439,630
1,800
18,743
100

L ia b il it ie s
00
00
00
00
33
00
00
00
20
70
00
69
00

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$1,223,838 28
60,000 00
30,067 40

Interest, rents, etc.
Less current
Expenses .

.

$4,211 37
205 60

285 60
1
17,000
1,675
45

00
00
93
00

$1,317,911 45

$1,317,911 45

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns

.

$20,000
2 76,000
15,000
113,688

.

00
00
00
33

$424,688 33
Shs.
Bank and Trust Company Stocks
50 Fourth National Bank, Boston .
46 State National Bank, Boston
31 National Bank of Commerce, Boston .
15 NT Bank of the Republic, Boston
7 Faneuil H all National Bank, Boston .
38 Cape Cod National Bank, Harwich
21 First N ’l B ’k of Y arm outh , Y arm ou th p’t

$5,000 00
4,600 00
3.100 00
700 00
3,800 00
2 .100 00
$19,300 00

T otal A m ount

of

L oans

Rate

4
4.1 5
4i
4*
4f
4*
5
5Ì
54
6
7

per cent.
“
“
“
“
“
“
“
“
“
“
“
“
“
“
"
“
“
“
“
“

T otals

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

on

4,005 77

O c t . 31, 1908,

Loans on Real
Estate

b e a r in g

_
-

—
-

171,788 30
-

8 ,522 00
89,889 00
3 3,317 40

-

55,000
2 0,000
49,500
60,000
70,000
72,130
18,000

$20,000
2 63,480
13,556
113,688

$20,000
273,1 2 5
13,500
113,688

00
00
25
33

$410,7 2 4 58
$8,000
6,670
4 ,960
750
9 66
4,940
2 ,625

00
00
00
00
00
00
00

$28,911 00

Other Loans

$57,200 00
15,000 00

-

$95,000 00

$23,998 50

Book Value

E a c h S p e c if ie d R

Loans on Personal
Security

—

Estimated
Market Value

00
00
00
00
00
70
00

-

17,200 00
66,500 00
-

26,833 33
-

2 ,455 00
-

00
00
00
33

$420,313 33
$ 5,000
4 ,600
3 .100
1
700
3 ,800
2.100

00
00
00
00
00
00
00

$19,301 00

ate of

I nterest

Total Loans

$57,200
15,000
95 ,0 0 0
41 ,1 9 8
1 21,500
2 0,000
248,121
6 0,000
7 8,522
164,474
5 1,317

00
00
00
50
00
00
63
00
00
70
40

$327,515 20

$439,630 70

$ 1 8 5,188 33

$ 9 5 2 ,3 3 4 23

5 .4 6 per cent.

5 .1 6 per cent.

4 .4 9 per cent.

5 .1 4 per cent.

50

R E PO R T OF THE

[Pub. Doc.

Cape Cod Five Cents Savings Bank — Concluded
T otal E x pen ses
Salaries
Am ount paid for
$4 ,5 1 4 00
% of total assets .3 4 2 5 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$200 00
.0 1 5 2 of 1 %

of

Advertising
$10 50
.0 0 0 8 of 1 %

State T a x e s

Total

Other Expenses
$491 04
.0 3 7 2 of 1 %

$5 ,2 1 5 54
.3 9 5 7 of 1 %

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

d u r in g Y e a r
B a n k B u il d in g a n d F i x t u r e s
. $150,1 6 0 60 Book value
.
.
.
$1,800 00
.
2 ,0 9 8 Estim ated value
.
.
3 ,0 0 0 00
. $168,930 87 Assessed value .
.
.
1,750 00
.
2 ,2 1 4
. $ 27,692 14
D e p o s it A cc o u n ts
Num ber opened during year
330
D iv i d e n d s d e c l a r e d d u r i n g Y e a r
Num ber closed
“
“
281
April, 1908, 2 %
. $ 2 3 ,0 2 5 65
T otal num ber O ct. 3 1 , 1908 .
3 ,915
O c t., 1908, 2 %
. 2 3 ,4 3 6 76 $46,462 41 Average balance “
“
.
$312 60

C a s h o n D e p o s it i n B a n k
Cape Cod N ’l Bank, Harwich

.

$17,000 00

M is c e l l a n e o u s
N um ber of corporators, 4 1 ; trustees, 15
Gross income rec’d during year . $65,875 58
State ta x (net) paid “
“
.
4,072 78
D ate

of

E x a m i n a t i o n , October 21

St a t is t ic s o f L o an s
N o. not exceeding $ 3 ,000 each
316
A m ount of same
.
. $ 1 6 7 ,5 3 4 20
N o. of loans on real estate .
342
Average am ount of same
.
$957 65
A m ount loaned on real estate
during year
.
.
. $19,3 1 5 00
N o. of new real estate loans
m ade during year .
.
36

CENTRAL SAVINGS BANK, LOW ELL
Branch Office, North Chelmsford
President, C l a r e n c e W . W h id d e n
Treasurer, A r t h u r J. M u r k l a n d
Clerk of the Corporation, A r t h u r J. M u r k l a n d
Board of Investment: A r t h u r G. P o l l a r d , A m a s a P r a t t , C h a r l e s W . W
H e n r y W . B a r n e s , C l a r e n c e W . W h id d e n
Incorporated March 3, 1871.

Open for business every business day, 9
also Saturdays, 7 to 9 p .m .

a .m .

il d e r ,

to 1

p .m .;

Deposits commence to draw interest the first Saturday of February, M ay, A ugust and
Novem ber. Dividends are payable the first Saturday of M ay and N ovem ber

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
.
.
.
. $755,700
Railroad bonds
.
.
.
. 834,700
Street railway bonds
97,750
Boston Terminal Company bonds . 100,000
Bank and trust company stocks
12,200
Loans to counties, cities or towns .
83,824
on railroad bonds
3,000
“ bank and trust co. stocks
1,400
“ depositors’ books .
775
“
“ real estate
2,457,946
“
“ personal security .
656,341
Bank building and fixtures .
25,000
37,472
Real estate by foreclosure, etc.
“
“
in possession,
4,500
Stocks, bonds, etc., taken to secure
indebtedness
.
.
.
.
40
Deposits in banks, on interest
82,038
Cash on hand
.
.
.
.
8,361
Checks and cash items
13,851


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
15
00
60

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

Interest, rents, etc.

.$4,808,453 17
.

240,000 00
23,710 25

.

102,735 33

No. 8]

BANK COMMISSIONER

51

Central Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
100
50
15
72

Estimated
Market Value

Par Value

Schedule op Securities Owned

.
.
.

$735,700
837,000
100,000
100,000
8 3 ,8 2 4

legal
.

00
00
00
00
00

$7 3 1 ,1 3 4
8 26,622
9 9,500
9 8,000
8 3 ,8 2 4

L oans

Loans on Real
Estate

Rate
3^ per cent.
3i »
«
4
“
“
4* “
“
4* “
“
4f “
“
4Î “
“
5
“
“
5i “
“
5i

6

“

“

“

“

Totals

.
.
•
•
•
•
.
•
.

.
.

$ 1 ,8 7 6 ,5 2 4 00

$ 1 ,8 58,680 50

$ 1 ,8 7 1 ,9 7 4 00

$ 9,500 00
5,000 00

$2,000
5,000
45
12,240

-

7,200 00

$171,909
2 5.000
125.000
103,787
2 0.000
135.000
75 ,6 4 5

E a c h S p e c if ie d R

$12,200 00

ate of

Other Loans

Interest

Total Loans
$2,000
15,310
185,864
4 ,000
523,2 4 4
2 5 .000
125,000
2 ,0 3 1 ,9 5 3
2 0 .000
150,410
120,505

00
00
00
00
00
00
00
00
00
00
00

9 ,8 5 0 00

$ 2 ,4 5 7 ,9 4 6 00

$656,341 00

$88,999 00

$ 3 ,2 0 3 ,2 8 6 00

4 .8 9 per cent.

5 .0 8 per cent.

3 .9 7 per cent.

4 .8 9 per cent.

1,925,991 00
15,410 00
44,860 00

T otal E xpen ses

Salaries
Am ount paid for
$10,835 16
% of total assets . 2093 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$1,500 00
. 0289 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
. $ 6 6 7,575 84
N um ber of same
7,588
A m ount of withdrawals
. $ 8 3 8,054 89
N um ber of same
8,733
N et increase in deposits
. $12,452 59
D iv i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, 2 %
. $ 91,429 06
M ay, 1 9 0 8 ,2 %
. 91 ,5 0 2 58 $182,931 64


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7,200 00

00
00
00
00
00
00
00

•

Average rate

_

$ 5,000 00

$ 2,000 00
15,310 00
59 ,6 6 4 00

•

.

b e a r in g

00
00
00
00

$19,2 8 5 00

Loans on Personal
Security

$126,200 00
4,000 00
341,485 00

00
00
00
00
00

20 ,0 0 0 00

O c t . 31, 1908,

on

$735,700
834,7 0 0
97 ,7 5 0
100,000
83 ,8 2 4

19,600 00

$21,700 00

of

00
50
00
00
00

2 0,000 00

Bank and Trust Company Stocks
Central National Bank, Boston
Old Lowell National Bank, Lowell
Prescott National Bank, Lowell
Union National Bank, Lowell .

T otal A m ount

Book Value

2 ,1 7 5 00

of

Advertising
$638 29
.0 1 2 3 of 1 %

State T a x e s
Other Expenses
$3 ,1 8 5 79
.0 6 1 5 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$16,159 24
.3 121 of 1 %

F ix t u r e s
. $ 25,000
.
3 5,000
.
2 8 ,000
1 ,006

D e p o s it A cc ou n ts
N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

00
00
00
30

1,003

1,001
9 ,247
$520 00

52

R E PO R T OF THE

[Pub. Doc.

Central Savings Bank — Concluded
C a s h o n D e p o s it i n B a n k s
Old Colony Trust Co., Boston
.
Appleton National Bank, Lowell .
U nion National Bank, Lowell
.

$19,6 1 8 13
10,000 00
52,420 02

M is c e l l a n e o u s
N um ber of corporators, 6 2 ; trustees, 18
Gross income rec’d during year . $23 3 ,0 0 8 87
State ta x (net) paid “
“
.
11,201 33
D ate

of

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
627
A m ount of same
.
. $945,741 00
N o. of loans on real estate .
857
Average am ount of same
.
$ 2,868 00
Am ount loaned on real estate
during year
.
.
. $342,910 00
N o. of new real estate loans
made during year .
.
148

E x a m i n a t i o n , January 15, 16

CHARLESTOWN FIVE CENTS SAVINGS BANK, BOSTON
President, C h a r l e s F . B y a m
Treasurer, A u g u s t u s W . S t o v e r
Clerk of the Corporation, F r e d E . C o a t e s
Board of Investment: C h a r l e s F. B y a m , G e o r g e M. S t a r b i r d , G e o r g e H . P e n d e r g a s t ,
C h a r l e s M . H o s m e r , W a l t e r S. G l id d e n
Incorporated April 7, 1854. Open for business every business d ay, except Saturdays,
9 a .m . to 2 p .m .; W ednesdays, 3 to 5 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest on the third W ednesd ay of January, April, July and
October. Dividends are payable on the third W edn esd ay of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
$1,036,975
Railroad bonds .
. 789,052
Street railway bonds
. 100,000
Boston Terminal Company bonds . 110,000
Telephone company bonds
.
30,575
Bank and trust company stocks . 232,250
Loans to counties, cities or towns . 150,000
“
“ railroad companies
. 170,000
‘ on public funds .
. 125,000
“ railroad bonds
. 255,000
“
“ bank and trust co. stocks
73,500
“
“ depositors’ books
4,815
“ real estate
3,104,778
personal security
2,603,100
Bank building and fixtures
.
70,000
Real estate by foreclosure, etc.
.
49,596
in possession
6,900
Deposits in banks, on interest
. 368,444
Cash on hand
10,460
Checks and cash items
1,218

00
50
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
54
53
60

L ia b il it ie s
D e p o s its ............................................ $8,341,379 80
Surplus:
Guaranty fund
.
.
.
415,000 00
Profit and loss
.
.
.
494,894 77

Interest, rents, etc.
. $43,395 19
Less current
Expenses . $1,015 40
Taxes
.
1,989 19 3,004 59

$9,291,665 17

Public funds
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$9,291,665 17

Par Value

Schedule op Securities Owned

.
.

40,390 60

$1,037,000
776,200
100,000
110,000
35,000

00
00
00
00
00

Estimated
Market Value
$ 1,051,302
788,377
100,975
107,800
31,631

50
00
00
00
25

Book Value

$ 1 ,0 36,975
772,052
100,000
110,000
3 0,575

00
50
00
00
00

No. 8]

BANK COMMISSIONER

53

Charlestown Five Cents Savings Bank — Continued
Schedule

op

Securities Owned

Loans to counties, cities or towns
“
“ railroad companies .
Bonds and notes which are not now legal
investments
.

Shs.
12
145
250
300
250
150
224
263
27
24
123
111
150
13
75
25
50
67
147

Bank and Trust Company Stocks
Andover N ’l Bank, Andover
Boylston National Bank, Boston
Commonwealth Trust Co., Boston
Eliot National Bank, Boston
First National Bank, Boston
First W a rd National Bank, Boston .
Metropolitan National Bank, Boston .
National Bank of Commerce, Boston .
N ’l Market Bank of Brighton, Boston
Second National Bank, Boston .
State National Bank, Boston
W ebster-A tlas National Bank, Boston
H om e National Bank, Brockton
Conway National Bank, Conway
W achusett National Bank, Fitchburg
Union National Bank, Lowell .
Essex Trust Co., L ynn
Blue H ill National Bank, Milton
New ton National Bank, Newton

Par Value

Estimated
Market Value

Book Value

$150,000 00
150,000 00

$150,000 00
150,000 00

$150,000 00
150,000 00

37,000 00

3 7,257 50

3 7 ,000 00

$2,395,200 00

$ 2,417,343 15

$2,386,602 50

$1,200
14,500
38,750
58,500
78,500
26,250
26,880
42,080
2 ,754
5,160
17,835
16,095
30,000
1,300
7,125
4,250
10,000
6,700
7,350

$1,200
14,500
25,000
30,000
25,000
14,800
22,400
26,300
2,700
2 ,400
12,300
11,100
15,000
1,300
7,500
2,500
5,000
6,700
6,550

$1,200
14,500
25,000
30,000
25,000
15,000
22,400
26,300
2,700
2,400
12,300
11,100
15,000
1,300
7,500
2,500
5,000
6,700
7,350

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$233,250 00

T otal A m ount

of

L oans

5Ì

“

“

5f

“

“

5i

“

“

6
6i
6i
6f
y

“

“

“
“
“
((

“
“
“
a

Totals

O c t . 31, 1908,

Loans on Real
Estate

Rate

2 per cent.
3f “
“
4
“
“
4| “
“
4f “
“
4* “
“
4| “
“
4| “
“
5
“
“
5* “
“
5i “
“

on

.
.
.
•
•
.
.
.
•
.
.
•
■
.
.
•
.

.
.
.

$20,000 00
101,500 00
3 1,000 00
-

.
.
.
.

•
.
.

815,925 00
88,650 00
-

1,863,878 00
126,750 00
—

57,075 00
-

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

—
-

b e a r in g

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$395,229 00

E a c h S p e c if ie d R

Loans on Personal
Security
$50,000 00
—
25,000 00
8 0 ,000 00
2 5 ,000 00
633,000 00
2 31,300 00
3 98,500 00
2 5 ,000 00
73,300 00
2 10,000 00
50,000 00
50,000 00
227,000 00
115,000 00
238,000 00
3 2,000 00
140,000 00

Other Loans

-

$75,000 00
75,000 00
-

110,140
50,000
50,000
96 ,2 7 5

00
00
00
00
-

45,000 00
133,400 00
—
125,000 00
10,000 00
—
8,500 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$232,250 00

ate of

I nterest

Total Loans

$ 50,000
2 0,000
2 01,500
186,000
2 5,000
1,559 ,0 6 5
369,9 5 0
50,000
2 ,3 5 8 ,6 5 3
2 5,000
118,300
470,150
5 0,000
5 0,000
4 0 9 ,0 7 5
125,000
238,0 0 0
32,0 0 0
148,500

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$ 3 ,1 04,778 00

$ 2 ,6 03,100 00

$778,315 00

$6,4 8 6 ,1 9 3 00

4 .8 5 per cent.

5 .2 8 per cent.

5 .0 3 per cent.

5 .0 5 per cent.

RE PO R T OF THE

54

[Pub. Doc.

Charlestown Five Cents Savings Bank — Concluded
T otal E xpen ses

Salaries

for

Y

e a r , e x c l u s iv e

A m ount paid for
$16,742 9 8
% of total assets .1 8 0 2 of 1 %

of

St a t e T a x e s

Advertising

Rent

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
$1,1 2 6 ,2 8 8 01
Am ount of deposits .
16,160
N um ber of same
$ 1 ,3 23,233 15
A m ount of withdrawals
16,098
N um ber of same
. $118,280 02
N et increase in deposits
D iv i d e n d s d e c l a r e d d u r i n g Y e a r
April, 1908, 2 %
$156,737 85
O ct., 1908, 2 %
. 158,487 31 $315,2 2 5 16
C a s h o n D e p o s it i n B a n k s
City Trust Co., Boston
.
Commonwealth Tr. Co., Boston
Metropolitan N ’l Bank, Boston
National Security Bank, Boston
Second National Bank, Boston

. $2 0 1 ,4 4 4 54
.
50,000 00
.
2 5,000 00
.
5,000 00
.
8 7 ,000 00

M is c e l l a n e o u s
N um ber of corporators, 4 3 ; trustees, 22
Gross income rec’d during year . $4 5 1 ,2 6 6 00
State ta x (net) paid “
“
.
23 ,0 3 8 91

Total

Other Expenses
$1,740 65
.0 1 8 7 of 1 %

$1,500 00
.0 161 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

$19,983 63
2150 of 1 %

F ix t u r e s
$70,0 0 0
70 .0 0 0
70 .0 0 0
3,461

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

00
00
00
09

2 ,0 6 5
2 ,0 6 8
19,873
$419 73

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
619
Am ount of same
.
$ 1 ,0 01,290 00
N o. of loans on real estate .
927
Average amount of same
.
$3,349 27
Am ount loaned on real estate
during year
.
.
. $272,900 00
N o. of new real estate loans
made during year .
.
88
D ate

of

E x a m i n a t i o n , April 28, 29, 30

CHELSEA SAVINGS BANK, CHELSEA
President, B e n j a m in F . D o d g e
Treasurer, A l b e r t A . F ic k e t t
Clerk of the Corporation, A l b e r t A . F ic k e t t
Board of Investment: G e o r g e E . M o r r i l l , B e n j a m in F . D o d g e , A b r a m T . C o l l i e r ,
C h a r l e s G . R o b e r t s , W il l i a m G r a n t m a n
Incorporated April 29, 1854.

Open for business every business day, 8
also Saturdays, 4 to 8 p .m .

a .m .

to 1

p .m .,

Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the fifteenth day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
. $605,470
. 713,908
Railroad bonds .
Street railway bonds
. 105,000
.
37,301
Telephone company bonds
Bank and trust company stocks .
41,000
38,010
Loans to counties, cities or towns .
“
on bank and trust co. stocks
1,950
“
“ depositors’ books .
2,000
2,559,278
“
“ real estate
“
“ personal security
1,459,475
Bank building and fixtures .
.
17,969
Real estate by foreclosure, etc.
.
14,629
Deposits in banks, on interest
.
31,936
“
“
“
not on interest
6S5
Cash on hand
9,466
Checks and cash items
1,287


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L ia b il it ie s
00
75
00
25
00
00
00
00
00
00
69
84
56
34
26
72

$5,639,368 41

.$5,111,271 65

Deposits .
Surplus:
Guaranty fund
Profit and loss
Interest, rents, etc.
Less current
Expenses .
Insurance account

.
.

255,500 00
228,788 50

. $51,128 22
.

9,064 60

42,063 62
1,744 64

$5,639,368 41

No. 8]

55

BANK COMMISSIONER
Chelsea Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
31
200
52
87
25
15

Estimated
Market Value

Par Value

Schedule op Securities Owned

.
.
.

8550,000
7 11,000
105,000
4 2,000
38 ,0 1 0

legal
.

00
00
00
00
00

8558,672
697,470
105,850
37,9 5 7
3 7,510

L oans

Loans on Real
Estate

R ate

3 f per cent.
4
“
“

67,300 00

6 5,675 00
8 1 ,4 99,690 00

83,100
2 0,000
5,200
8,700
2,500
1,500

89,7 3 4
4 3,400
8,320
12,615
2 ,625
2 ,550

8 3 ,100
2 0 ,000
5,200
8,700
2 ,500
1,500

00
00
00
00
00
00

H

4f
5
5i
5i
5f
6

“

“
“

“

“

“

“

“

“

.
.

2 ,1 0 8 ,4 9 6 00
.
.
.
.

“

“

T otals

.
.

“

“
“

.

Average rate

.
.
.
.

168,795 00
255,687 00

E a c h S p e c if ie d R

8595,000
277,500
276,5 5 0
125,000
56.000
10.000
119,425

00
00
00
00
00
00
00

00
00
00
00
00
00

841,0 0 0 00

ate of

Interest

Other Loans

Total Loans

816,660 00
21 ,3 5 0 00

816,660
23 ,3 5 0
6 19,300
277,5 0 0
2 ,3 8 6 ,0 4 6
125,000
2 2 4 ,7 9 5
10,000
378,0 6 2

1,000 00

2 ,9 5 0 00

00
00
00
00
00
00
00
00
00

82,5 5 9 ,2 7 8 00

8 1 ,4 5 9 ,4 7 5 00

841,960 00

8 4 ,0 60,713 00

5 .1 2 per cent.

4 .8 7 per cent.

4 .0 6 per cent.

5 .0 2 per cent.

T otal E xpen ses
Salaries
A m ount paid for
813,387 52
% of total assets .2 3 7 4 of 1 %
D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

for

Y

e a r , e x c l u s iv e

Rent
8204 17
.0 0 3 6 of 1 %
d u r in g Y e a r
8 1 ,4 0 4 ,9 7 7 08
.
19,696
81,5 6 6 ,4 4 3 99
.
20,1 1 2
. 8 28,306 12

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. 893,802 56
O ct., 1908, 2 %
. 9 5,970 47 8189,773 03


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

b e a r in g

00
00
00
00
00
00

8 7 9 ,2 4 4 00

Loans on Personal
Security

8 2,000 00
2 4,300 00

00
75
00
25
00

8 1 ,5 04,760 20

O c t . 31, 1908,

on

8549,470
704,233
105,000
37,301
38 ,0 1 0

66,000 00

8 41,000 00

of

50
00
00
50
20

8 1 ,5 12,010 00
Bank and Trust Company Stocks
JEirst .National Bank, Boston
Merchants National Bank, Boston
N ’l Bank of Commerce, Boston
State National Bank, Boston
.
Chelsea Trust Company, Chelsea
Union National Bank, Lowell .

T otal A m ount

Book Value

of

St a t e T a x e s

Advertising
8418 79
0074 of 1 %

Other Expenses
8 2 ,4 7 4 30
.0 4 3 8 of 1 %

B a n k B u il d in g
B ook value
.
E stim ated value
Assessed value .

and

.
.
.

Total
816,4 8 4 78
.2 9 2 2 of 1 %

F ix t u r e s
. 817,969 69*
.
18,000 0 0 ;
.
13,850 0 0 1

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 3 1 , 1908 .
Average balance “
“
.

1,983
2,901
17,611
8290 2 3

56

R E PO R T OF THE

[Pub. Doc.

Chelsea Savings Bank — Concluded
C a s h o n D e p o s it i n B a n k s
First W a rd National Bank, Boston $11,3 0 2
National Shawmut Bank, Boston
6,721
Chelsea Trust Company, Chelsea .
13,912
First National Bank, Chelsea
.
685

S t a t is t ic s o f L o a n s
87 N o. not exceeding $ 3,000 each
868
51
Am ount of same
.
$1,3 0 2 ,8 0 8 00
18 N o. of loans on real estate .
1,075
3 4 * Average amount of same
.
$ 2,380 72
Am ount loaned on real estate
M is c e l l a n e o u s
during year
.
.
. $609,200 00
N um ber of corporators, 9 8 ; trustees, 31
N o. of new real estate loans
-Gross income rec’d during year . $283,141 75
made during year .
.
193
'State ta x (net) paid “
“
.
11,101 67
D a t e o f E x a m i n a t i o n , N ovem ber 24,
25, 27
* In liquidation.

CHICOPEE SAVINGS BANK, CHICOPEE
President, J o h n B . W o o d
Treasurer, C h a r l e s A . C h a p m a n
Clerk of the Corporation, L u t h e r W h it e
Board of Investment:

J o h n B . W o o d , W il l ia m J. F u l l e r , C o r n e l i u s J. D r is c o l l
N e l s o n B . Ca r t e r

Incorporated Feb. 27, 1845.

Open for business every business day, 9

. to 3 f .m .

a .m

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first day of January and July
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
on railroad stocks
depositors’ books .
“
“ real estate
“ _ “ personal security .
Deposits in banks, on interest
Cash on hand

$132,603
422,632
109,575
65,000
14,200
92,600
4,000
825
912,712
221,015
44,727
3,690

95
50
00
00
00
00
00
00
14
00
10
84

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
L,917,465 89
84,500 00
11,457 38

Interest, rents, etc.
Less current
Expenses .

. $11,280 39
.

1,122 13

$2,023,581 53

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
Boston Terminal Com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

legal
.

Shs.
Bank and Trust Com pany Stocks
6 6 Chapin National Bank, Springfield
50 U nion Trust Co., Springfield


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,023,581 53

Par Value
.
.

10,158 26

$ 1 3 3,000
417.000
110.000
6 5.000
92 ,6 0 0

00
00
00
00
00

Estimated
Market Value
$135,000
389,0 7 2
109,075
6 3,700
92,6 0 0

00
50
00
00
00

Book Value

$132,603
412,882
109,575
65,000
92 ,6 0 0

95
50
00
00
00

10.000 00

9 ,5 0 0 00

9 ,7 5 0 00

$827,600 00

$798,947 50

$822,411 45

$6,600 00
5,000 00

$ 6 ,600 00
8 ,000 00

$6,600 00
7,600 00

$11,600 00

$14,600 00

$14,200 00

BANK COMMISSIONER

No. 8]

57

Chicopee Savings Bank — Concluded
T otal A m ou nt

of

L oans

5*
6
7*

“
“
“

“
“

T otals

O c t . 31, 1908,

Loans on Real
Estate

R ate
3 f per cent.
4
“
“
4i “
“
4f “
“
5
“
“

on

.
.
.
.
.
.

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$118,250 00
15,000 00
779,462 14

$15,000
15,000
7 8 ,950
1 11,315
750

00
00
00
00
00

$19,000
25,100
133,250
40 .0 0 0
891,737
111,315
750
10.000

10,000 00
33 ,3 2 5 00

10,000 00

•

Interest

Total Loans

$19,000 00
2 5 ,100 00

.
.
.
.
.
.

00
00
00
00
14
00
00
00

$912,712 14

$2 2 1 ,0 1 5 00

$97,4 2 5 00

$1,2 3 1 ,1 5 2 14

4 .9 3 per cent.

5 .2 0 per cent.

4 .7 0 per cent.

4 .9 6 per cent.

.

Average rate .

ate of

T otal E xpen ses

for

Y

e a r , e x c l u s iv e

Salaries
A m ount paid for
$2 ,9 7 6 03
% of total assets .1 4 7 0 of 1 %

Rent
$400 00
.0 1 9 8 of 1 %

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

d u r in g

Y ear
$309,370 56
3,681
$406,878 10
3 ,796
$23,219 68

of

St a t e T a x e s

Advertising
$5 00
.0 0 0 2 of 1 %

Other Expenses
$792 06
.0 391 of 1 %

D e p o s it A c c o u n t
Num ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

Total
$4,173 09
.2061 of 1 %

571
672
3 ,764
$509 42

S t a t is t ic s o f L o a n s
No. not exceeding $3,000 each
480
A m ount of same
.
. $518,117 00
N o. of loans on real estate .
520
Average amount of same
.
$1,7 5 5 21
A m ount loaned on real estate
70
during year
.
.
. $148,8 2 5 00
34 N o. of new real estate loans
94*
m ade during year .
.
74
52
D a t e o f E x a m i n a t i o n , October 23
33
27

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 %
. $37,098 18
July, 1908, 2 % .
. 37,189 68 $74,287 86
C a s h o n D e p o s it i n B a n k s
Chapin N ’l Bank, Springfield
Chicopee N ’l Bank, Springfield
Pynchon N ’l Bank, Springfield
Springfield N ’l Bank, Springfield .
Springfield S. D . & T r . Co., Springfield
.
.
.
.
.
U nion Trust Co., Springfield

$ 1 ,060
3 ,758
100
11,464
6 ,9 7 4
2 1,368

M is c e l l a n e o u s
N um ber of corporators, 5 6 ; trustees, 17
Gross income rec’d during year . $92,8 8 4 26
State ta x (net) paid “
“
.
5,021 70
* In liquidation.

CHICOPEE FALLS SAVINGS BANK, CHICOPEE FALLS
President, G e o r g e S. T a y l o r
Clerk of the Corporation, H
Board of Investment:

enry

Treasurer, H
J. B o y d

Ja m e s F l in t , G e o r g e M . M o r t o n , W
F r e d N . W it h r e l

enry

oodm an

J. B o y d
S. P a g e ,

Incorporated M ay 11, 1875. Open for business every business day, 9 a .m . to 3 p .m .;
also Thursdays and Saturdays, 6 to 8 p .m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF THE

58

[Pub. Doc

Chicopee Falls Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Boston Terminal Company bonds .
Bank and trust company stocks
Loans on depositors’ books .
“
“ real estate
“
“ personal security .
Furniture and fixtures
Deposits in banks, on interest
Cash on hand
.
.
.
.
Checks and cash items

L ia b il it ie s
$11,000
103,918
20,000
10,000
18,455
1,450
729,215
200,031
2,500
59,689
485
1,078

00
75
00
00
00
00
88
85
00
41
43
56

.$1,098,318 65

Deposits .
Surplus:
Guaranty fund
Profit and loss

30,692 47
24,799 29

Interest, rents, etc.
Less current
Expenses .

.

$4,916 55
902 08

$1 157,824 88

$1,157,824 88

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds

.
.
.

$11,000
105,000
20,000
10,000

00
00
00
00

$146,000 00
Shs.

16
20
50
13
40
25
4
20

Bank and Trust Company Stocks
Franklin Co. N ’l Bank, Greenfield
H adley Falls N ’l Bank, Holyoke
H om e National Bank, H olyoke .
Palmer National Bank, Palmer .
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .
Agaw am National Bank, Springfield .
Springfield S. D. & Tr. Co., Springfield .

$1,600
2 ,000
5,000
1,300
4 ,000
2 ,500
55
2 ,000

L oans

of

Totals

O c t . 31, 1908,

Loans on Real
Estate

R ate

4-lr per cent.
5
“
“
6
“
“

on

00
00
00
00
00
00
00
00

.

.

Average rate

$11,000
103,918
2 0 ,000
10,000

50
00
00
00

$25,000 00
173,781 85
1,250 00

$ 1,450 00

$200,031 85

$ 1,450 00
5 .0 0 per cent.

Y

e a r , e x c l u s iv e

Rent
$300 00
. 0259 of 1 %

of

Advertising
$3 90
.0 0 0 3 of 1 %

00
00
00
00
00
00
00
00

$18,455 00

E a c h S p e c if ie d R a t e

4 .9 4 per cent.

for

$1,600
2,000
5,000
1,300
4 ,000
2 ,500
55
2 ,000

$23,680 00

Other Loans

00
75
00
00

$144,918 75

00
00
00
00
00
00
00
00

$729,2 1 5 88

Salaries
$2 ,6 2 6 60
. 2268 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$10,697
96 ,8 0 0
19,750
9 ,800

4 .9 4 per cent.

T otal E xpen ses
Am ount paid for
% of total assets

Book Value

$1,600
2,760
6,250
1,300
4,000
3 ,750
20
4,000

Loans on Personal
Security

$78,000 00
6 5 1 ,2 1 5 88

.
.

b e a r in g

Estimated *
Market Value

$137,047 50

$18,455 00

T otal A m ount

4,014 47

of

I nterest

Total Loans

$103,000 00
826,447 73
1,250 00
$930,697 73
4 .9 4 per cent.

St a t e T a x e s
Other Expenses
$365 86
.0 3 1 5 of 1 %

Total
$3 ,2 9 6 36
.2 8 4 5 of 1 %

No. 8]

BANK COMMISSIONER

59

Chicopee Palls Savings Bank — Concluded
D e p o s it s a n d W it h d r a w a l s
Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

Y ear
$202,547 40
3,379
$ 2 4 3,364 00
3,151
$924 29

d u r in g

D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $20,629 86
July, 1908, 2 % .
. 21,111 03 $41,740 89

C a s h o n D e p o s it i n B a n k s
H om e National Bank, H olyoke . $21,002 89
U nion Trust Co., Springfield
256 36
Springfield S. D . & Tr. Co., Springfield
.
.
.
.
.
8 ,6 2 4 68
Chapin N ’l Bank, Springfield
6,759 48
Pynchon N ’l Bank, Springfield
248 0 9 *
Springfield N ’l Bank, Springfield .
21 ,3 7 4 93
Chicopee N ’l Bank, Springfield .
1,422 98

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

403
486
2 ,766
$397 07

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
275
Am ount of same
.
. $354,297 73
N o. of loans on real estate .
276
Average am ount of same
.
$ 2 ,642 08
A m ount loaned on real estate
during year
.
.
. $42,800 00
N o. of new real estate loans
m ade during year .
.
19

D ate

of

E x a m i n a t i o n , October 14

M is c e l l a n e o u s
N um ber of corporators, 4 5 ; trustees, 15
Gross income rec’d during year . $54,597 47
State ta x (net) paid “
“
.
1,802 88
* In liquidation.

CITIZENS SAVINGS BANK, PALL RIVER
President, J o h n C. M i l n e
Treasurer, E . E . H a t h a w a y
Clerk of the Corporation, G e o r g e H . E d d y
Board of Investment:

J o h n C. M i l n e , S a m u e l W . H a t h a w a y , H
W il l ia m F. T h o m a s , J a m e s M . S w i f t

Incorporated October, 1851.

H . E arl,

enry

Open for business every business day, 9

a .m .

to 2

p .m .

Deposits commence to draw interest the first M onday of March, June, September and
December. Dividends are payable the second M onday of June and December

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
$75,500 00
Railroad bonds .
1,528,300 00
Street railway bonds
70.000 00
Telephone company bonds .
97,426 00
Bank and trust company stocks
252,412 50
Loans to counties, cities or towns
9,633 22
“
on real estate $2,279,202 00
Less, due on mtge. loans 9,220 12 2,269,981 88
731,390 00
Loans on personal security .
Bank building and fixtures .
95.000 00
30,474 34
Real estate by foreclosure, etc.
16,899 07
Real estate in possession
94,719 05
Deposits in banks, on interest
Cash on hand
.
.
.
5,765 29
158 27
Checks and cash items .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$5,277,659 62

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

Interest, rents, etc.
Less current
Expenses .

.$4,837,269 S9
.

244,751 34
91,429 47

$111,448 84
.

7,239 92

104,208 92

$5,277,659 62

60

R E PO R T OF THE

[Pub. Doc.

Citizens Savings Bank — Continued
Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
6
93
89
50
77
25
188
50
114
255
1,070
506
161
800
40

Estimated
Market Value

Par Value
.
.
.

$75,000
1,528,300
50,000
109,000
9,633

legal
.

00
00
00
00
22

$79,625
1,742,032
49,750
98,508
9,633

Book Value

00
00
00
75
22

$75,000
1,528,300
50,000
9 7,426
9,633

00
00
00
00
22

20,500 00

21,210 00

20,500 00

$1,792,433 22

$2,000,758 97

$1,780,859 22

Bank and Trust Company Stocks
Commonwealth Trust Co., Boston .
Eliot National Bank, Boston .
First National Bank, Boston .
Merchants National Bank, Boston .
National Bank of Commerce, Boston
N ’l Bank of the Republic, Boston .
National Shawmut Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Fall R iver National Bank, Fall R iver
Massasoit-Pocasset N ’l B ’k, F. R iver
Metacomet N ’l Bank, Fall River
National Union Bank, Fall R iver .
Pocasset National Bank, Fall R iver
Union National Bank, Lowell

$600
9,300
8,900
5,000
7,700

00
00
00
00
00

18,800
5,000
11,400
2 5,500
107,000
50,600

00
00
00
00
00
00

$930
18,135
27,946
10,850
12,320
1,250
54,520
10,750
16,530
33,150
171,200
65,780
322
1,600
6,800

4,000 00
$253,800 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$600
9,300
8,900
5,000
7,700
18,800
5,000
11,400
24,112
107,000
50,600

00
00
00
00
00
00
00
00
50
00*
00

4,000 00

$432,083 00

$252,412 50

* Over legal limit.

T otal A m ou nt

of

L oans

4 per cent.
44 “
“
'
5
“
“
5i “
“
54 “
»

.
.
.
.

.
.
.

6

.

.

Totals

“

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

“

on

.

Average rate

b e a r in g

Loans on Personal
Security

$214,000 00
249,000 00
1,123,118 00

ate of

Other Loans

I nterest

Total Loans

$9,633 22
$425,000
241,3 1 5
35,000
11,875
18,200

576,248 88
107,615 00

$223,633
674,000
1,364,433
3 5,000
588,123
125,815

00
00
00
00
00

22
00
00
00
88
00

$2,269,981 88

$731,390 00

$9,633 22

$3,0 1 1 ,0 0 5 10

5 .0 3 per cent.

4 .7 5 per cent.

4 .0 0 per cent.

4 .9 6 per cent.

T otal E xpen ses
Salaries
A m ount paid for
$14,449 99
% of total assets .2 7 3 8 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
-

-

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
. $641,622 83
N um ber of same
6,116
A m ount of withdrawals
. $849,047 63
Num ber of same
8,053
N et decrease in deposits
. $19,958 46


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

E a c h S p e c if ie d R

of

St a t e T a x e s

Advertising Other Expenses
$2,972 91
.0 5 6 3 of 1 %
B a n k B u il d in g
Book value
Estim ated value
Assessed value .
Net income

and

Total
$17,422 90
.3301 of 1 %

F ix t u r e s
$95,000
100,000
9 2,000
1,006

00
00
00
87

61

BANK COMMISSIONER

No. 8]

Citizens Savings Bank — Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, 2 %
. $93,943 40
June, 1908, 2 %
. 9 3 ,522 9 4 $ 187,466 34
C a s h o n D e p o s it i n B a n k s
Eliot National Bank, Boston
First National Bank, Boston
National Shawmut Bank, Boston
Second National Bank, Boston .
Massasoit-Pocasset National B ’k,
Fall R iver
.
.

$4,439
51,719
10,681
9 ,4 8 4

66
43
32
83

18,393 81

M is c e l l a n e o u s
Num ber of corporators, 6 0 ; trustees, 20
Gross income rec’d during year . $266,263 32
State ta x (net) paid “
“
.
10,636 59

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

1,162
1,274
7,897
$612 54

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
374
Am ount of same
.
. $514,857 10
N o. of loans on real estate .
531
Average amount of same
.
$4 ,2 7 4 91
Am ount loaned on real estate
during year
.
.
. $146,899 38
N o. of new real estate loans
made during year .
.
41
D ate

of

E x a m i n a t i o n , M ay 28, 29

CITY S A V I N G S BANK OF PITTSFIELD, PITTSFIELD
President, F r a n c is W . R o c k w e l l
Treasurer, H ir a m B . W
Clerk of the Corporation, J. F r e d K a h l
Board of Investment: H

e l l in g t o n

R . P e i r s o n , J a c o b G im l ic h , A r t h u r A . M i l l s ,
H ir a m B . W e l l in g t o n

enry

Incorporated April 13, 1893. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 6 p .m .
Deposits commence to draw interest the tenth day of January, April, July and October
Dividends are payable the tenth day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
L

A ssets

$67,000 00
Public funds
.
.
.
.
245,053 75
Railroad bonds .
.
.
.
53.000 00
Street railway bonds
50.000 00
Boston Terminal Company bonds .
8,750 00
Telephone company bonds
5,285 00
Bank and trust company stocks
223 00
Loans on railroad stocks
300 00
“
“ bank and trust co. stocks
340 00
“
“ depositors’ books
.
929,640 96
“
“ real estate
134,400 00
“
“ personal security
74,800 18
Bank building and fixtures .
10,483 45
Real estate by foreclosure, etc.
2,454 70
Premiums .
.
.
.
.
19,414 52
Deposits in banks, on interest
14,967 37
“
“
“
not on interest .
5,321 07
Cash on hand
.
.
.
.

ia b il it ie s

,584,359 12

Deposits .
Surplus:
Guaranty fund
Profit and loss

26,550 00
4,235 45

$9,398 72
Interest, rents, etc.
Less current
Expenses .. $2,288 27
3,109 29
Taxes
.
821 02

$1,621,434 00

$1,621,434 00

Par Value

Schedule of Securities Owned

Public funds
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

.
.
.

6,289 43

$ 67,000 00
249,0 0 0 00
4 3 ,100 00

Estimated
Market Value
$67,530 00
236,5 2 5 00
44,919 00

Book Value

$ 67,000 00
245,033 75
4 3 ,100 00

62

REPO RT OF THE

[Pub. Doc,

City Savings Bank — Concluded

Boston Terminal Company bonds
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

$50,0 0 0 00
10,000 00

10,000

Shs.
Bank and Trust Company Stocks
5 Agricultural NT Bank, Pittsfield
10 Third National Bank, Pittsfield .
10 ¿Lousatonic National Bank, Stockbridge

T otal A m ou nt

of

L oans

.
.
.
.

.
.
.
.

Totals
Average rate

$500 00
00
00

$ 1,400 00
2 ,250 00
1,600 00

$1,300 00
2,450 00
1,535 00

$ 2,500 00

$ 5,250 00

$ 5,285 00

E a c h S p e c if ie d R a t e

Other Loans

of

Interest

Total Loans

$50,000 00
00
757,249 96
17,000 00
30 ,6 5 4 00

210,000

$8,000 00
123,450 00

$600 00

2,950 00

263 00

$134,400 00

$863 00

$ 1 ,0 64,903 96

4 .9 9 per cent.

5 .3 0 per cent.

4 .9 0 per cent.

Salaries
$3,761 48
.2 3 1 9 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$750 00
.0 4 6 2 of 1 %
Y ear
$641,527 57
8,793
$349,291 52
4,596
$340,141 33

d u r in g

C a s h o n D e p o s it i n B a n k s
Agricultural NT Bank, Pittsfield .
Pittsfield NT Bank, Pittsfield
Third National Bank, Pittsfield .
Berkshire L . & Tr.^Co., Pittsfield

$5,351
4 ,136
4,980
19,914

15
00
22
52

M is c e l l a n e o u s
N um ber of corporators, 3 6 ; trustees, 13
Gross income rec’d during year . $59,843 04
State ta x (net) paid “
“
.
1,966 66
E x a m i n a t i o n , August 7


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

9 ,900 00
$423,783 75

b e a r in g

D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $22,259 46
July, 1908, 2 % .
. 2 5,645 82 $47,9 0 5 28

of

9 ,0 0 0 00
$416,011 50

$929,640 96

D e p o s it s a n d W it h d r a w a l s
A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

D ate

00

4 .8 8 per cent.

T otal E xpen ses
A m ount paid for
% of total assets

$50,000 00
8 ,750 00

$429,1 0 0 00

Loans on Personal
Security

$50,000 00
202,000 00
633,199 96
17,000 00
27,441 00

Book Value

$49,000 00
9 ,037 50

1,000
1,000

O c t . 31, 1908,

Loans on Real
Estate

Rate

4r| per cent.
H
“
“
5
“
“
5Ì “
“
6 “ “

on

Estimated
Market Value

Par Value

Schedule of Securities Owned

of

Advertising
$230 52
.0 1 4 2 of 1 %

St a t e T a x e s
Other Expenses
$1 ,1 9 4 67
.0 7 3 6 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value
N et income

an d

.

Total
$5,936 67
.3 659 of 1 %

F ix t u r e s
. $78,800
88,800
36,000
448

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“
.

18
00
00
75

1,980
869
4,849
$326 73

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
301
Am ount of same
.
. $ 3 6 3,263 03
N o. of loans on real estate .
292
Average amount of same
.
$3,183 70
A m ount loaned on real estate
during year .
.
. $226,111 78
N o. of new real estate loans
made during year .
.
88

63

BANK COMMISSIONER

No. 8]

CITY FIVE CENTS SAVINGS BANK, H AVERH ILL
President, S a m u e l W . H o p k in s o n
Treasurer, G e o . W . N o t e s
Cleric of the Corporation, G e o . W . N o y e s
Board of Investment:

J o h n E . G a l e , S y l v a n u s P . G a r d n e r , Sa m u e l W . H
G e o r g e N ic h o l s , 2d, P h il i p C. S w e t t

o p k in s o n ,

Incorporated March 31, 1870. Open for business every business day, except Saturdays,
9 a .m . to 2 p .m . ; Saturdays, 9 a .m . to 12.30 p .m ., and 7 to 8.30 p .m .
Deposits commence to draw interest the first day of March, June, September and December
Dividends are payable the first W ednesday of June and December

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

Public funds
.
.
.
.
$247,000
Railroad bonds .
.
.
.
492,477
Street railway bonds .
.
. 105,000
Boston Terminal Company bonds . 150,000
Telephone company bonds .
.
35,608
Bank and trust company stocks .
30,925
Loans to counties, cities or towns .
39,100
“
“ railroad companies
.
40,000
“
on railroad bonds
.
.
300
“
“ railroad stocks
.
.
1,800
“
“ bank and trust co. stocks
2,600
“
“ real estate
$758,025 00
Less, due on mtge. loans 2,500
00 755,525
Loans on personal security .
. 589,755
Real estate in possession
.
.
1,596
Taxes, insurance, etc., paid on
mortgaged properties
.
.
273
Deposits in banks, on interest
.
48,473
Cash on hand
.
.
.
.
2,572
Checks and cash items
.
.
1,114

00
50
00
00
75
00
00
00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.$2,343,018 11

.

.

Interest, rents, etc.
$46,772 75
Less current
Expenses .
.
.
3,511 93
Insurance, due mortgagor .

94
67
79
90
$2,544,123 40

.
.
.

legal
.

Bank and Trust Company Stocks
Merchants National Bank, Boston
National Bank of Commerce, Boston .
Trem ont National Bank, Boston
First National Bank, Haverhill
Haverhill National Bank, Haverhill .
Merrimack National Bank, Haverhill
Haverhill Trust Go., Haverhill .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value

Schedule of Securities Owned

Shs.
25
9
15
132
56
32
50

43,260 82
183 47

00
00
85

$2,544,123 40

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

118,000 00
39,661 00

$245,000
467,000
105,000
150,000
40,000
24,100
40,000

00
00
00
00
00
00
00

$ 2 4 0,914
4 49,535
105,950
147,000
36,150
2 3,976
4 0,375

00
00
00
00
00
00
00

Book Value

$245,000
464,877
105,000
150,000
35,608
24,100
40,000

00
50
00
00
75
00
00

32,000 00

31,100 00

29,600 00

$1,103,100 00

$1,075,000 00

$ 1 ,0 94,186 25

$2,500
900
525
13,200
5,600
3,200
5,000

$5,425
1,440
15
17,820
10,080
4,320
6,000

00
00
00
00
00
00
00

$30,925 00

00
00
00
00
00
00
00

$45,100 00

$2,500
900
525
13,200
5,600
3,200
5,000

00
00
00
00
00
00
00

$30,925 00

64

R E PO R T OF THE

[Pub. Doc,

City Five Cents Savings Bank — Concluded
T otal A m ount

of

L oans

on

O c t . 31, 1908,

Loans on Real
Estate

Rate

b e a r in g

E a c h S p e c if ie d R a t e

Loans on Personal
Security

“

“

H

“

“

4f
5
5Ì
5*
6
6*

“

“

“

“

«
“
“
“

“
“
“
“

Totals

.
.
-

.
.

.
■

.

$12,000 00

$165,000
2 5.000
165,280
62,500
15.000
33.000
123,975

708,925 00
5,200 00
.29,400 00

,

$ 7 5 5,525 00

Average rate

Am ount paid for
% of total assets

for

Y

2,700 00
300 00
2 ,000 00

5 .2 5 per cent.

e a r , e x c l u s iv e

$ 1 ,4 29,080 00

4 .7 5 per cent.

5 .1 1 per cent.

of

Rent

Advertising

$4,763 96
. 1872 of 1 %

$1,550 00
.0 6 0 9 of 1 %

$60 85
.0 0 2 4 of 1 %

Y ear
$414,089 79
11,480
$500,340 83
8,226
$ 2,722 56

d u r in g

D i v i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, 2 %
. $44,605 75
June, 1908, 2 %
. 44,367 85 $88,973 60
C a s h o n D e p o s it i n B a n k s
First National Bank, Haverhill . $33,473 67
Haverhill N ’l Bank, Haverhill
. 10,000 00
Haverhill Trust Co., Haverhill
.
5,000 00
M is c e l l a n e o u s
N um ber of corporators, 5 8 ; trustees, 12
Gross income rec’d during year . $119,596 65
State ta x (net) paid “
“
.
7,559 74

00
00
00
00
00
00
00
00
00

$83,8 0 0 00

Salaries

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
Num ber of same
Am ount of withdrawals
N um ber of same
Net increase in deposits

$4,600
5,500
2 02,000
2 5 ,000
9 1 7 ,9 0 5
62,500
2 2,900
62,700
125,975

4 3,700 00

$589,755 00

5 .0 3 per cent.

T otal E x pen ses

$ 4,600 00
5,500 00
2 5,000 00

00
00
00
00
00
00
00

Interest

Total Loans

Other Loans

3 % per cent.

4

o f

St a t e T a x e s

Other Expenses

Total
$6,959 58
2736 of 1 %

$584 77
.0 2 3 0 of 1 %

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance
“
“
.

1,424
1,326
9 ,685
$241 92

S t a t is t ic s o f L o a n s
No. not exceeding $ 3,000 each
279
A m ount of same
.
. $386,205 00
N o. of loans on real estate .
312
Average am ount of same
.
$2,421 56
Am ount loaned on real estate
during year
.
.
. $120,875 00
No. of new real estate loans
made during year .
.
57
D ate

of

E x a m i n a t i o n , December 9

CITY INSTITUTION FOR SAVINGS, LOW ELL
President, F r e d A . B u t t r ic k
Treasurer, F r a n k W . H
Clerk of the Corporation, F r a n k W . H u r d
Board of Investment: H e n r y C. C o o p e r , L e o n a r d H u n t r e s s , F r a n k
C h a r l e s P. C o n a n t , F r e d A . B u t t r ic k
Incorporated April 12, 1837.

Open for business every business day, 9
also Saturdays, 7 to 9 p .m .

a .m

urd

Co b u r n ,

. to 1

p .m . ;

Deposits commence to draw interest the second Saturday of January, April, July and
October. Dividends are payable the second Saturday of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

65

City Institution for Savings — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
Railroad bonds .
Street railway bonds
Bank and trust company stocks
Loans to railroad companies
Loans on bank and trust co. stoc
“
“ real estate
“
“ personal security
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand

$1,119,000
.2,168,625
. 621,000
. 271,675
9,975
ss
17,863
.3,072,498
.1,724,828
.
64,470
. 139,465
1,109

00
00
00
00
00
73
43
35
04
19
43

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$8,476,083 21
.
.

Interest, rents, etc.

112,736 24

$9,210,510 17

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Bonds and notes which are
investments
.
.

Shs.
80
124
44
100
150
400
550
36
65
40
2 65
131
118
85
25
610
51
220
100
100
25
42

.
.

.
.
.
.
not now
.
.

$9,210,510 17

Estimated
Market Value

Par Value

Schedule op Securities Owned

$1,000,000 00
2 ,163,000 00
475,000 00

.
.
.
legal
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Boylston National Bank, Boston
Merchants National Bank, Boston
Metropolitan N ’l Bank, Boston
N ’l Bank of Commerce, Boston
N ’l Bank of the Republic, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
New England N ’l Bank, Boston
Old Boston National Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & Atlas N ’l B ’k, Boston
B ay State National Bank, Lawrence .
Appleton National Bank, Lowell
Old Lowell National Bank, Lowell
Prescott National Bank, Lowell
Union National Bank, Lowell .
W am esit National Bank, Lowell
First National Bank, Marlborough
Framingham N ’l B ’k, So. Fram ingham

of

L oans

4

5

i

O c t . 31, 1908,

Loans on Real
Estate

R ate

4

on

per cent.
“

“

.

“

“

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

$923,475 00
542,290 32
1,593,231 71

$998,547 50
2 ,123,255 00
476,375 00

Book Value

$1,000,000 00
2 ,168,625 00
474,000 00

279,000 00

270,925 00

275,975 00

$3,917,000 00

$3,869,102 50

$3,918,600 00

$8,000
12,400
4,400
10,000
15,000

00
00
00
00
00

55,000
3,600
6,500
4,000
26,500
13,100
4,130
8,500
1,875
61,000
5,100

00
00
00
00
00
00
00
00
00
00
00

10,000
10,000
2,500
4,200

00
00
00
00

$11,200
12,400
9,548
12,000
24,000
20,000
159,500
5,760
9,100
4,440
56,975
18,995
118
12,320
2,775
62,830
5,100
660
17,000
10,100
3,125
6,090

$265,805 00

T otal A m ou nt

440,000 00
181,690 72

b e a r in g

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$464,036 00

E a c h S p e c if ie d R a t e

Loans on Personal
Security
$46,128 54
294,225 00
1 ,237,325 84

Other Loans

$3,202 48
—

15,875 00

$8,000
12,400
4,400
10,000
15,000

00
00
00
00
00

60,000
3,600
6,500
4,000
26,500
13,100

00
00
00
00
00
00

8,500
1,875
61,000
5,100

00
00
00
00

15,000
10,000
2,500
4,200

00
00
00
00

$271,675 00

of

Interest

Total Loans

$972,806 02
8 36,515 32
2,846 ,4 3 2 55

66

R E PO R T OF THE

[Pub. Doc.

City Institution for Savings — Concluded
T otal A m ount

of

L oans

on

O c t . 31, 1 9 0 8 ,' b e a r i n g E a c h S p e c if ie d R
— Concluded

Loans on Real
Estate

R ate

Loans on Personal
Security

5(f per cent.
s*

6

“

“

“

“

T otals

.

Average rate

Other Loans

I nterest

Total Loans

$1 ,9 2 5 00
11,576 40

$25,000 00
69,000 00
53,148 97

$8,761 25

$25,000 00
79,686 25
64,725 37

$3,072,498 43

$1,724,828 35

$27,838 73

$4,8 2 5 ,1 6 5 51

4 .6 1 per cent.

4 .9 4 per cent.

5 .0 4 per cent.

4 .7 3 per cent.

T otal E x p e n se s
Am ount paid for
% of total assets

ate of

Salaries
$15,991 68
.1 7 3 6 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$ 1,625 00
.0 1 7 6 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
. $865,044 43
Am ount of deposits .
N um ber of same
13,605
$1,4 2 3 ,2 7 5 78
A m ount of withdrawals
N um ber of same
23,918
. $227,182 71
Net decrease in deposits

D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
$ 1 6 6,384 95
July, 1908, 2 % .
164,663 69 $331,048 6 4

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
National Shawmut Bank, Boston
National Union Bank, Boston
.
Appleton N ’l Bank, Lowell
.
Pynchon N ’l Bank, Springfield .

$1,790
17,882
30,900
87,891
1,000

92
51
59
17
00*

of

Advertising

$11 00
.0001 of 1 %

St a t e T a x e s
Other Expenses
$ 1,504 61
.0 1 6 3 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
Total number O ct. 31, 1908 .
Average balance “
“

Total
$19,132 29
.2 0 7 6 of 1 %

1,557
2,248
18,698
$453 31

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 00 each
361
Am ount of same
.
. $51 0 ,6 1 7 02
N o. of loans on real estate .
459
Average amount of same
.
$6,6 93 90
A m ount loaned on real estate
during year
.
.
. $ 1 0 3 ,1 6 5 00
No. of new real estate loans
made during year .
.
26

D ate

of

E x a m i n a t i o n , M ay 7, 8

M is c e l l a n e o u s
Num ber of corporators, 2 8 ; trustees, 12
Gross income rec’d during year . $401,581 07
State ta x (net) paid “
“
.
26,261 99
* In liquidation.

CLINTON SAVINGS BANK, CLINTON
President, L u c iu s F i e l d
Treasurer, C. L . S. H a m m o n d
Clerk of the Corporation, C. L . S. H a m m o n d
Board of Investment: E d m o n d A . E v a n s , L u c iu s F i e l d , E b e n S. F u l l e r , G e o . P. T a y l o r ,
John E . T h a y e r
Incorporated M ay 15, 1851.
9 a .m . to 12

Open for business every business day, except Saturdays,
1 to 3 p .m .; Saturdays, 9 a .m . to 1 p .m .

m.;

Deposits commence to draw interest the second M onday of January, April, July and
October. Dividends are payable the second M onday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

67

Clinton Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e e 31, 1908
A

L

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Boston Terminal Company bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
“
“ railroad companies
“
on bank and trust co. stocks
“
“ real estate
“
“ personal security
Real estate by foreclosure, etc.
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Premiums .
.
.
.
.
Furniture and fixtures .
Deposits in banks, on interest
“
“
“
not on interest .
Cash on hand
.
.
.
.

$266,100
504,150
30,000
52,200
52,500
152,000
60,000
2,090
892,801
637,100
8,173

00
00
00
00
00
00
00
00
21
00
92

58,077
10,000
1,222
58,947
12,452
19,431

00
00
50
67
10
38

ia b il it ie s

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$2,659,989 06
.

Interest, rents, etc.
Less current
Expenses .

.

$2,682 21
162 04

$2,817,245 78

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Loans to railroad companies .
.
Bonds and notes which are not now
investments
.
.
.
.

Shs.

30
55
350
40
50

.
.
.

$259,500
505.000
3 0.000
50.000
152.000
60.000

.
legal
.

Bank and Trust Company Stocks
Metropolitan National Bank, Boston .
W ebster & A tlas N ’l Bank, Boston
First National Bank, Clinton
Fitchburg N ’l Bank, Fitchburg
First National Bank, New Bedford

Estimated
Market Value
00
00
00
00
00
00

of

L oans

O c t . 31, 1908,

Loans on Real
Estate

R ate

4 per cent.
4i “
“
4f “
“

on

.

.

“

“

.

.

4f

“

“

-

.

5
5
5

i
i

“

“

.

“

“

“

“

.
.

$ 1,052,242 00

$1,064,450 00

$3,000
5,500
35,000
4.000
5.000

$3,600
7 ,9 7 5
42,000
6,000
6,450

$3,000
5,500
3 5,000
4.000
5.000

5f
6
6^

“
“
“

“
“*
“

00
00
00
00
00

.

-

-

2 7,175 00
.

.

—

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$105,000
100,000
9 1,550
50,000
74,300
55,000
61,250
25,000
75,000

00
00
00
00
00

$66,025 00

00
00
00
00
00
00
00
00
00

Other Loans

$67,000
10,000
25,000
20,000

00
00
00
00
—

26,800 00
25,000 00
-

40,290 00
-

-

00
00
00
00
00

$52,500 00

E a c h S p e c if ie d R a t e

Loans on Personal
Security

-

100 00
T otals

b e a k in g

-

853,0 2 6 21
.
.

00
00
00
00
00
00

$1,061,500 00

-

-

$261,100
504,150
3 0.000
52,200
152,000
60.000

5,000 00

—

4,000 00

00
00
00
00
00
00

4 ,950 00

$8,500 00
.

$262,047
492,195
3 1,850
49.000
152,200
60.000

Book Value

5,000 00

$52,500 00

T otal A m ount

2,520 17

$2,817,245 78

Par Value

Schedule of Securities Owned

134,000 00
20,736 55

of

Inteeest

Total Loans

$75,500
10,000
2 5,000
129,000
100,000
9 71,376
75,000
74,300
55,000
128,715
25,000
75,100

00
00
00
00
00
21
00
00
00
00
00
00

$892,801 21

$637,100 00

$214,090 00

$1,743,991 21

5 .0 2 per cent.

5 .4 1 per cent.

4 .7 5 per cent.

5 .1 3 per cent.

REPO RT OF THE

[Pub. Doc.

Clinton Savings Bank — Concluded
T otal E x pen ses
Am ount paid for
% of total assets

Salaries
$6,688 50
.2 3 7 4 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$1,000 00
.0 3 5 6 of 1 %

D e p o s it s a n d W it h d r a w a l s
Am ount of deposits
.
.
Num ber of same
.
.
A m ount of withdrawals
.
Num ber of same
.
.
N et increase in deposits
.

Y ear
. $409,137 07
.
6,230
. $460,722 98
.
5,920
. $ 48,442 03

d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $49,936 15
O ct., 1908, 2 %
. 50,091 79 $100,027 9 4

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $58,947 67
First National Bank, Clinton
.
12,452 10

M is c e l l a n e o u s
Num ber of corporators, 3 9 ; trustees, 16
Gross income rec’d during year . $125,382 14
State ta x (net) paid “
“
.
8,223 14

of

Sta t e T a x e s

Advertising
$40 33
.0 0 1 4 of 1 %

Other Expenses
$678 02
.0 2 4 0 of 1 %

Total
$ 8,406 85
.2 9 8 4 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
Total number Oct. 31, 1908 .
Average balance “
“

919
989
7 ,4 6 8
$356 17

S t a t is t ic s o f L o a n s
No. not exceeding $3,000 each
416
A m ount of same
$481,511 21
No. of loans on real estate .
429
Average amount of same
$2,081 12
Am ount loaned on real estate
during year
$94,729 38
N o. of new real estate loans
made during year .
58
D ate

of

E x a m i n a t i o n , January 17

COHASSET SAVINGS BANK, COHASSET
President, C a l e b F . N ic h o l s
Treasurer, C a l e b L o t h r o p
Clerk of the Corporation, C a l e b L o t h r o p
Board of Investment: C a l e b F. N ic h o l s , D a n ie l N . T o w e r , H
Ch a r l e s W . G a m m o n s
Incorporated Feb. 28, 1845.
8.30 a .m . to 12.30

erbert

L. B row n,

Open for business every business day, except Saturdays,
1.30 to 4 p .m .; Saturdays, 8.30 a .m . to 12 m .

p .m .,

Deposits commence to draw interest the first T uesday of January, April, July and O ctober
Dividends are payable W ednesday after the first Tuesday of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L

ssets

$90,356 25
Railroad bonds .
.
.
.
40,000 00
Street railway bonds
10,000 00
Boston Terminal Company bonds .
8,687 50
Telephone company bonds
630 00
Bank and trust company stocks
75,750 00
Loans to counties, cities or towns .
1,500 00
“
on bank and trust co. stocks
“
“ real estate
$628,126 10
Less, due on mtge. loans
391 31 627,734 79
180,473 00
Loans on personal security .
14,000 00
Bank building and fixtures .
6,610 73
Real estate by foreclosure, etc.
24,425 84
Deposits in banks, on interest
2,071 15
Cash on hand
.
.
.
.
770 22
Checks and cash items .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,083,009 48

ia b il it ie s

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

.$1,006,098 69
49,550 00
12,147 16

. $16,477 40
.

1,263 77

15,213 63

$1,083,009 48

BANK COMMISSIONER

No. 8]

69

Cohasset Savings Bank — Concluded

Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns

.
.

$92,000
4 0,000
10,000
10,000
75,750

of

L oans

per cent.

H

“
“

4f
5

“
“

•

•

.
.

.

“

“

5\

“

“

.

5|

“

“

.

6
6

“

i

“

T otals

O c t . 31, 1908,

$16,000 00
28,500 00
3 82,155 09
79,885 00
121,194 70

“

Average rate

25
00
00
50
00

$224,793 75

$630 00

$18 00

$630 00

b e a r in g

E a c h S p e c if ie d R a t e
Other Loans

of

Total Loans

$26,750 00
3 5.000 00

00
00
00
00
00
00
00

I nterest

$42,750
93.500
22.500
420,155
104,385
10,000
182,167
10,000

14.000 00
1,500 00

00
00
00
09
00
00
70
00

$627,734 79

$180,473 00

$77,250 00

$885,457 79

5 .2 1 per cent.

5 .4 1 per cent.

4 .4 5 per cent.

5 .1 8 per cent.

T otal E x p e n se s
Salaries
Am ount paid for
$2,286 50
% of total assets .2 109 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$250 00
.0 2 3 0 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
. $116,233 75
Am ount of deposits .
1,634
Num ber of same
. $150,280 12
Am ount of withdrawals
1,826
Num ber of same
.
$4,457 19
N et increase in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $19,256 63
July, 1908, 2 % .
. 19,246 93 $38,503 56
C a s h o n D e p o s it i n B a n k s
W ebster and A tlas N ’l B ’k, Boston
Hingham N ’l Bank, Hingham
.

$9,737 35
14,688 49

M is c e l l a n e o u s
N um ber of corporators, 4 0 ; trustees, 13
Gross income rec’d during year . $ 50,756 91
State ta x (net) paid “
“
.
1,849 38
D a t e o f E x a m i n a t i o n , August 28


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$90,356
40,000
10,000
8,687
75,750

00
00
00
50
00

$219,597 50

$30,000
2 2.500
2 4.000
24.500
10.000
59,473
10,000

.

.

$85,135
3 9,875
9,800
9,037
75,750

Loans on Personal
Security

Loans on Real
Estate

R ate
4

on

00
00
00
00
00

Book Value

$227,750 00

Shs.
Bank and Trust Company Stocks
18 Tremont National Bank

T otal A m ou nt

Estimated
Market Value

Par Value

Schedule op Securities O wn e d

of

St a t e T a x e s

Advertising
$7 13
.0 0 0 6 of 1 %

Other Expenses
$794 63
.0 733 of 1 %

B a n k B u il d in g
Bank value
Estim ated value
Assessed value .
Net income

and

Total
$3,338 26
.3 0 7 8 of 1 %

F ix t u r e s
$14,000 00
15.000 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

11.000 00
398 28 '

201
173
2,396
$420 19

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
203
Am ount of same
$182,626 01
N o. of loans on real estate .
281
$2,233 93
Average amount of same
Am ount loaned on real estate
during year
75,149 86
No. of new real estate loans
made during year .
23

REPO RT OF THE

70

[Pub. Doc.

COMMONWEALTH SAVINGS BANK, LYNN
President, J o s e p h G. P in k h a m
Treasurer, W i l l ia m M . B a r n e y
Clerk, of the Corporation, Ch a s . N e a l B a r n e y
Board of Investment: W il l ia m M. B a r n e y , T h o m a s C a m p b e l l , 2 d , W
P a t r ic k B . M a g r a n e , E u g e n e A . P u t n a m
Incorporated March 28, 1900.

M. L i b b e y ,

alter

Open for business every business day, 9
also Saturdays, 3 to 6 p .m .

a .m

. to 1 p .m . ;

Deposits commence to draw interest the first W ednesday of March, June, September and
December.
Dividends are payable the day following the first W ednesday of June
and December

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
$9,940 00
Railroad bonds .
.
.
.
117,332 50
Street railway bonds
9,000 00
Telephone company bonds
2,606 25
Bank and trust company stocks
6,500 00
Loans to counties, cities or towns .
1,000 00
“
on bank and trust co. stocks
3,500 00
“
“ depositors’ books
125 00
“
“ real estate
$502,291 36
Less, due on mtge. loans 5,020 00 497,271 36
Loans on personal security .
61,963 42
Premiums .
.
.
.
.
9,212 50
Furniture and fixtures .
3,200 00
Deposits in banks, on interest
3,595 35
Cash on hand
.
.
.
.
4,505 39
Checks and cash items
25 72

Deposits .
.
Surplus:
Guaranty fund

.

.
.

Interest, rents, etc., .
Less current
Expenses . $1,853 13
Taxes
.
512 43

.
.

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

2,365 56

legal
.

Shs.
Bank and Trust Company Stocks
20 Commercial National Bank, Boston
20 Metropolitan National Bank, Boston .
5 Peoples’ National Bank, Boston,
20 Manufacturers’ National Bank, Lynn .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

92 96

.$729,777 49

Par Value

.
.

9,000 00

$2,458 52

$729,777 49

Schedule of Securities Owned

$720,684 53
.

$10,000
117,800
4,000
3,000
1,000

00
00
00
00
00

Estimated
Market Value

Book Value

$10,007
117,818
4,030
2,711
1,000

$9,940
117,332
4^000
2,606
1,000

50
00
00
25
00

00
50
00
25
00

5,000 00

5,100 00

5,000 00

$140,800 00

$140,666 75

$139,878 75

$2,000
2,000
500
2,000

00
00
00
00

$6,500 00

$2,800
2,400
600
2,300

00
00
00
00

$8,100 00

$2,000
2,000
500
2,000

00
00
00
00

$6,500 00

BANK COMMISSIONER

No. 8]

71

Commonwealth Savings Bank — Concluded
T otal A m ount

of

L oans

5

“

5Ì

“

“

5i

“

“

6

“

“

Totals

O c t . 31, 1908,

Loans on Real
Estate

R ate

4 per cent.
4f “
“

on

.

.

.
.
.
.

.
.
.
.

.

Average rate

$4,500
344,381
3,000
139,950
5,440

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$20,000 00

$1,000 00

25,111 13

3 ,6 2 5 00

00
36
00
00
00

ate of

I nterest

Total Loans

$21,000
4,500
373,117
. 3,000
156,802
5,440

16,852 29

00
00
49
00
29
00

$497,271 36

$61,963 42

$4,625 00

$563,859 78

5 .1 5 per cent.

4 .8 1 per cent.

4 .7 8 per cent.

5 .1 1 per cent.

T otal E xpenses

for

Y

e a r , e x c l u s iv e

Salaries
Am ount paid for
$2,762 83
% of total assets .3 7 8 5 of 1 %

Rent
$ 1,535 91
.2 1 0 6 of 1 %

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
Num ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

d u r in g

Y ear
$215,744 27
3,363
$216,192 29
2,840
$23,707 56

D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, l \ %
. $11,325 85
June, 1908, 2 %
. 12,829 73 $24,155 58
C a s h o n D e p o s it i n B a n k s
Metropolitan N ’l Bank, Boston .
Manufacturers’ N ’l Bank, L ynn .

$1,848 51
1,746 84

M is c e l l a n e o u s
Num ber of corporators, 3 0 ; trustees, 18
Gross income rec’d during year . $34,446 77
State tax (net) paid “
“
.
1,043 25

of

St a t e T a x e s

Advertising
$354 50
0485 of 1 %

Other Expenses
$350 01
.0 479 of 1 %

Total
$5,003 25
.6 8 5 5 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“
.

428
386
2 ,0 9 4
$344 16

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
107
Am ount of same
.
. $163,491 36
No. of loans on real estate .
155
Average amount of same
.
$3,208 20
Am ount loaned on real estate
during year
.
.
. $102,311 0 0
N o. of new real estate loans
made during year .
.
20
D ate

of

E x a m i n a t i o n , April 21

CONW AY SAVINGS BANK, CONW AY
President, A . P. D e l a b a r r e
Treasurer, A . C. G u il f o r d
Clerk of the Corporation, A . C. G u il f o r d
Board of Investment:

J. B . P a c k a r d , H . D. P e a s e , A . P. D e l a b a r r e , C. L. B o y d e n ,
C. F . E l m e r

Incorporated March 10, 1887.

Open for business every business day, 9

a .m .

to 2

p .m .

Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the first day of M ay and N ovem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

[Pub. Doc,

REPORT OF THE

72

Conway Savings Bank — Continued
B alance

A

S h e e t , O c t o b e r 31, 1908
L

ssets

$6,000
27,500
5,000
5,000
4,000
10,400
20,000
301,240
46,018
1,070
500
15,544
2,054

Public funds
.
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“
on real estate
“
“ personal security
Real estate by foreclosure, etc.
Furniture and fixtures .
Deposits in banks, on interest
Cash on hand

00
00
00
00
00
00
00
00*
50
50
00
62
49

ia b il it ie s

.

Deposits .
Surplus:
Guaranty fund
Profit and loss

$427,496 32
12,000 00
4,831 79

$444,328 11

$444,328 11
* This amount exceeds the legal limit and will be corrected.

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$5,000
2 3,000
5,000
5,000
10,400

legal
.

Shs.
Bank and Trust Company Stocks
20 Conway National Bank, Conway
10 City National Bank, Holyoke
10 No. A dam s National Bank, N o. Adam s

T otal A m o u n t of L oans on

4 per cent.
5
“
“
5i “
“

.
.

.
.

6

.

.

“

T otals

“

.

Average rate

T otal

Am ount paid for
% of total assets

$ 5,045
22 ,7 9 5
5,350
4,900
10,400

$5,000
22,500
5,000
5,000
10,400

00
00
00
00
00

00
00
00
00
00

2 6,000 00

2 5,777 50

2 6 ,000 00

$74,400 00

$74,267 50

$73,900 00

$ 2,000 00
1,000 00
1,000 00

$2,000 00
1,200 00
1,150 00

2,000 00
1,000 00
1,000 00

$4,000 00

$4,350 00

$4,000 00

Loans on Personal
Security

$293,680 00

Other Loans

$8,000 00
22 ,4 0 0 00

Total Loans

$8,000
3 5 2 ,9 7 5
5,000
11,682

00
95
00
55

7,560 00

$36,895 95
5,000 00
4 ,122 55

$30 1 ,2 4 0 00

$46,0 1 8 50

$30,400 00

$377,658 50

5 .0 3 per cent.

5 .1 4 per cent.

4 .7 3 per cent.

5 .0 2 per cent.

E xpenses

Salaries
$800 00
.1 8 0 0 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Book Value

O c t . 31, 1908, b e a r i n g E a c h S p e c i f i e d R a t e o f In t e r e s t

Loans on Real
Estate

R ate

00
00
00
00
00

Estimated
Market Value

for

Y e a r , exclusive

Rent
$200 00
.0 4 5 0 of 1 %

of

Advertising
$23 00
.0 051 of 1 %

St a t e

T axes

Other Expenses
$168 44
.0 379 of 1 %

Total
$1,191 44
.2 6 8 0 of 1 %

BANK COMMISSIONER

No. 8]

73

Conway Savings Bank — Concluded
D eposit A c c o u n t s

D eposits a n d W i t h d r a w a l s d u r i n g Y e a r

A m ount of deposits .
Num ber of same
A m ount of withdrawals
Num ber of same
Net decrease in deposits

.

.

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
“
.
Average balance “

$48,303 12
695
$73,810 58
541
$ 9 ,184 60

105
95
1,194
$358 03

Statistics o f L o a n s
D ividends d e cl a r e d

M ay, 1908, 2 % .
N o v ., 1908, 2 %

Cash

o n

.
.

during

$ 8 ,124 72
8 ,198 14

Y ear

$ 16,322 86

D eposit in B a n k s

Old Colony Trust Co., Boston
.
Conway National Bank, Conway .
Pynchon N ’l Bank, Springfield
.

$ 4,306 81
11,136 5 5 f
101 2 6 *

N o. not exceeding $3,000 each
163
Am ount of same
.
. $232,150 17
N o. of loans on real estate .
165
Average amount of same
.
$1,825 69
Am ount loaned on real estate
during year
.
.
. $11,650 00
N o. of new real estate loans
made during year .
.
8

D ate

of

E x a m i n a t i o n , April 23

M iscellaneous

N um ber of corporators, 2 1 ; trustees, 21
Gross income rec’d during year . $20,793 03
State ta x (net) paid “
“
.
553 80
* In liquidation.

t This amount, in excess of the legal limit, has since been reduced.

COUNTY SAVINGS BANK, CHELSEA
President, A

Treasurer, G

D. B o s s o n

lbert

Clerk of the Corporation, V
B oard

of

Investment:

e r n o n

T. R

e o rg e

S. H

A l b e r t D. B o s s o n , G e o r g e W . M o s e s , W i l l i a m
D e n n i s A. O ’B r i e n , R o y a l S. W e n t w o r t h

Incorporated Feb. 27, 1890.

oberts

A. F i e l d

Open for business every business day, 8
also Saturdays, 4 to 9 p .m .

a .m

ixon

,

. to 1 p .m .;

Deposits commence to draw interest the third Saturday of January, April, July and
October. Dividends are payable the M onday following the third Saturday of April
and October.

B alance

S h e e t , O c t o b e r 31, 1908

Public funds
.
A ^SETS
$153,537 50
Railroad bonds .
.
.
.
207,262 86
Street railway bonds .
.
.
58,625 00
Boston Terminal Company bonds .
5,000 00
Telephone company bonds .
.
11,407 50
Bank and trust company stocks .
16,035 50
Loans to counties, cities or towns . 130,775 37
“
“ railroad companies
.
25,000 00
“
on bank and trust co. stocks
15,500 00
“
“ real estate
.
.
. 812,344 85
“
“ personal security .
. 252,475 00
Bank building and fixtures .
.
12,889 77
Real estate by foreclosure, etc.
.
2,160 47
Deposits in banks, on interest
.
82,747 02
Cash on hand
.
.
.
.
1,335 52


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,787,096 36

L

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses

ia b il it ie s

.

.

.$1,684,501 50
50,000 00
51,173 69

$2,019 28
598 11

1,421 17

$1,787,096 36

74

R E PO R T OF THE

[Pub. Doc

County Savings B a n k — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

Shs.

25
25
11
7
3
12
50
25
6

Estimated
Market Value

Par Value

Schedule op Securities Owned

.
.
.

$134,100
213,900
4 1,000
5,000
13,000
130,775
2 5,000

legal
.

Bank and Trust Company Stocks
First W ard National Bank, Boston
M t. Vernon National Bank, Boston
National Shawmut Bank, Boston
National Union Bank, Boston
New England National Bank, Boston .
Second National Bank, Boston .
State National Bank, Boston
Chelsea Trust Company, Chelsea
Dedham National Bank, Dedham

00
00
00
00
00
37
00

$ 1 3 3,034
200,903
4 1,945
4,900
11,748
130,775
25,000

50
00
00
00
75
37
00

Book Value

$133,537
206,262
40 ,6 2 5
5,000
11,407
130,775
25,000

50
86
00
00
50
37
00

3 9,000 00

40 ,0 5 6 25

39,000 00

$601,775 37

$588,362 87

$591,608 23

$2,500
2 ,112
1,100
700
300
1,200
5,000
2 ,500
600

00
50
00
00
00
00
00
00
00

$ 4,375
550
3,190
1,120
420
2,580
7 ,250
2 ,750
630

$16,012 50

00
00
00
00
00
00
00
00
00

$22,865 00

$2,500
100
2 ,200
700
300
1,200
5 ,935
2 ,500
600

00
00
00
00
00
00
50
00
00

$16,035 50

T o t a l A m o u n t o f L o a n s o n O c t . 31, 1908, b e a r i n g E a c h S p e c i f i e d R a t e o f In t e r e s t
Loans on Real
Estate

R ate

3 .4 5 p e r cen t.
Q1
“
“
“
“

3f
3 .8 0
07
0-g

“
“
“

3 .9 4
4

“

“

“

“

4*
4 .4 2

“

“

•

“

“

.

.

<<
.

4*
4f
5
51
51
5f

“
“

“
“

•
.

“

“

.

“
«
“

“
“
“

.
•

6

“

“

Totals

_

.

3 .5 7 5 “

.

A v e ra g e ra te

Other Loans

_

—
$ 1 7 1 ,1 0 0 0 0
7 ,4 0 0 0 0
1 2 5 ,4 0 0 0 0
—
5 0 8 ,4 4 4 8 5

$ 3 0 ,0 0 0
1 6 ,6 6 0
1 0 ,0 0 0
5 ,0 0 0
1 ,9 7 3
7 ,0 0 0
5 ,0 0 0
5 0 ,1 4 2

—

—
$ 5 0 ,0 0 0 0 0
—
2 5 ,0 0 0 0 0
3 0 ,0 0 0 0 0
3 4 ,5 0 0 0 0

Total Loans

00
00
00
00
37
00
00
00

5 ,0 0 0 0 0
1 5 ,5 0 0 0 0
2 0 ,0 0 0 0 0
—
5 ,0 0 0 0 0

—

150 00
2 5 ,0 0 0 0 0
8 7 ,8 2 5 0 0

$ 3 0 ,0 0 0
1 6 ,6 6 0
1 0 ,0 0 0
5 ,0 0 0
1 ,9 7 3
7 ,0 0 0
5 ,0 0 0
5 0 ,1 4 2
5 0 ,0 0 0
5 ,0 0 0
4 0 ,5 0 0
3 0 ,0 0 0
2 2 5 ,6 0 0
7 ,4 0 0
1 2 5 ,5 5 0
2 5 ,0 0 0
6 0 1 ,2 6 9

00
00
00
00
37
00
00
00
00
00
00
00
00
00
00
00
85

$ 8 1 2 ,3 4 4 8 5

$ 2 5 2 ,4 7 5 0 0

$ 1 7 1 ,2 7 5 3 7

$ 1 ,2 3 6 ,0 9 5 2 2

5 .7 1 p e r c e n t.

5 .1 9 p e r ce n t.

4 .0 5 p e r ce n t.

5 .3 5 p e r ce n t.

T otal E xpenses

Salaries
Am ount paid for
$7,120 83
% of total assets .3 9 8 4 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Loans on Personal
Security

for

Y ear, exclusive

Rent
$561 47
.0 3 1 4 of 1 %

of

Advertising
$313 45
0175 of 1 %

St a t e

T axes

Other Expenses
$1,603 17
.0 8 9 7 of 1 %

Total
$9,598 92
.5 3 7 0 of 1 %

BANK COMMISSIONER

No. 8]

75

County Savings Bank — Concluded
B ank

D eposits a n d W i t h d r a w a l s d u r i n g Y e a r

A m ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits

.
.
.
.
.

B uilding a n d

F ixtures

Book value
Estim ated value
Assessed value .

. $506,445 36
.
6,808
. $550,622 69
.
6,528
. $17,442 14

. $12,889 77
.
13,000 00
.
10,300 00

D eposit A c c o u n t s
D ividends d e c l a r e d

April, 1908, 2 %
O ct., 1908, 2 %

Cash

o n

during

. $30,358 38
. 31,261 09

Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

Y ear

$61,619 47

Statistics o f L o a n s

D eposit in B a n k s

First W a rd National Bank, Boston $27,500 00
State National Bank, Boston
.
20,000 00
Chelsea Trust Co., Chelsea .
.
35,247 02

No. not exceeding $ 3,000 each
469
Am ount of same
.
. $544,925 22
N o. of loans on real estate .
488
Average am ount of same
.
$ 1,664 64
Am ount loaned on real estate
during year
.
.
. $111,318 91
No. of new real estate loans
made during year
.
.
52

M iscellaneous

N um ber of corporators, 9 3 ; trustees, 39
Gross income rec’d during year . $91,728 20
State ta x (net) paid “
“
.
2 ,406 34

D ate

of

827
844
5,276
$319 27

E x a m i n a t i o n , February 21

CROCKER INSTITUTION FOR SAVINGS, TURNERS FALLS
President, I s a a c C h e n e r y
Clerk of the Corporation, N
Board of Investment: J a m

es

Incorporated April 3, 1869.

A. G

u n n

Treasurer, N
o r m a n

, E dward

o r m a n

P. F a r w e l l

P. F a r w e l l

L. G

o d d a r d

, M yron

Open for business every business day, 9

B. A

a .m

llen

. to 3 p .m .

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first d ay of January and July

B alance

A

Sh e e t , O c t o b e r

L ia b il it ie s

ssets

. $108,017
Public funds
. 195,153
Railroad bonds
.
45,500
Street railway bonds .
.
28,380
Telephone company bonds .
7,500
Bank and trust company stocks
6,200
Loans to counties, cities or towns
.
10,000
“ railroad companies
21,230
on bank and trust co. stockcs
4,713
“ depositors’ books .
.1,104,249
“ real estate
. 196,265
“ personal security
.
43,200
Bank building and fixtures .
4,725
Real estate by foreclosure, etc.
5,600
Premiums .
.
30,544
Deposits in banks, on interest
3,000
“
“
“
not on interest
1,083
Cash on hand
146
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

31, 1908

50
75
00
00
00
00
00
00
00
65
62
00
00
00
23
00
80
25

$1,815,508 80

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$1,738,101 99
69,600 00
7,806 81

$1,815,508 80

REPO RT OF THE

76

[Pub. Doc.

Crocker Institution for Savings — Concluded
Schedule

op

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$109,000
178,000
3 4 ,000
3 2 ,000
6,200

legal
.

of

L oans

on

O c t . 3 1 ,1 9 0 8 ,

“

“

•

5

“

“

54

“

“

6

“

“

.
.
.

Totals

.

Average rate

.

$25,000 00
1,079,249 65

.

$401,200 00

$388,461 25

$393,251 25

$7,500 00
175 00

$10,500 00
5 00

$7,500 00
-

$ 7,675 00

$10,5 0 5 00

$7,500 00

b e a r in g

E a c h S p e c if ie d R
Other Loans

$ 1,500
2,000
2 1,930
16,713

$133,656 62
57 ,8 3 4 00
4 ,775 00

I nterest

Total Loans

00
00
00
00

$ 1 ,500
27,000
1,234 ,8 3 6
74,547
4,775

00
00
27
00
00

$42,143 00

$ 1 ,3 4 2 ,6 5 8 27

4 .9 9 per cent.

5 .1 7 per cent.

5 .1 6 per cent.

5 .0 2 per cent.

D e p o s it s a n d W it h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

for

Y

e a r , e x c l u s iv e

Rent

of

Advertising

$68 00
.0 0 3 7 of 1 %
d u r in g Y e a r
. $204,3 7 5 72
.
2,792
. $293,501 48
.
3 ,1 3 5
. $21,219 50

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $33,827 36
July, 1908, 2 % .
. 34,0 7 8 90 $67,9 0 6 26
C a s h o n D e p o s it i n B a n k s
N ational Shawmut Bank, Boston
First National Bank, Greenfield .
Crocker N ’l B ’k, Turners Falls .

$9,5 0 6 47
5 ,096 86
18,940 90

M is c e l l a n e o u s
N um ber of corporators, 3 0 ; trustees, 17
Gross income rec’d during year . $85,900 67
State ta x (net) paid “
“
.
2 ,972 79
E x a m i n a t i o n , August 4


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ate of

$ 1 9 6,265 62

Salaries
Am ount paid for
$ 2 ,6 5 4 35
% of total assets . 1460 of 1 %

of

50
75
00
00
00

$1,1 0 4 ,2 4 9 65

T otal E xpen ses

D ate

$108,017
175,553
3 3 ,600
2 8 ,380
6,200

4 1,500 00

4^ per cent.

4|

25
00
00
00
00

40 ,2 2 5 00

Loans on Personal
Security

Loans on Real
Estate

R ate

$1 0 6 ,5 7 6
171,110
3 5,430
2 8,920
6,200

00
00
00
00
00

Book Value

4 2,000 00

Shs.
Bank and Trust Company Stocks
75 Crocker N ’l Bank, Turners Falls
5 Trem ont National Bank, Boston

T otal A m ou nt

Estimated
Market Value

Par Value

S ecurities O w ned

St a t e T a x e s
Other Expenses
$731 63
.0 4 0 2 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$3,453 98
. 1899 of 1 %

F ix t u r e s
. $43,200
.
43,200
.
2 5,000
1,186

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

00
00
00
16

401
441
4 ,168
$417 01

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
3 34
A m ount of same
.
. $310,129 65
N o. of loans on real estate .
391
Average am ount of same
.
$2 ,8 2 4 16
A m ount loaned on real estate
during year
.
.
. $ 68,200 00
N o. of new real estate loans
m ade during year .
.
32

77

BANK COMMISSIONER

No. 8]

DANVERS SAVINGS BANK, DANVERS
President, C h a r l e s H . W h it e
Treasurer, J. F r a n k P o r t e r
Clerk of the Corporation, J. F r a n k P o r t e r
Board of Investment: J o s h u a A r m i t a g e , C h a r l e s N . P e r l e y , I s a a c D . P o p e ,
C h a r l e s H . P r e s t o n , C h a r l e s H . W h it e
Incorporated March 20, 1850. Open for business every business day, except Saturdays,
8 a .m . to 12 m . and 1 to 3 p .m .; Saturdays, 8 a .m . to 12 m .
Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Boston Terminal Company bonds .
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
“
“ railroad companies
“
on bank and trust co. stocks
“
“ depositors’ books
“
“ real estate
.
.
.1
“
“ personal security
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
mortgaged properties
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Furniture and fixtures .
Deposits in banks, on interest
“
“
“
not on interest .
Cash on hand
.
.
.
.
Checks and cash items .

$29,000
333,860
64,400
85,000
38,607
44,740
8,100
25,000
3,510
450
183,113
436,934
55,458

00
00
00
00
50
33
00
00
00
00
64
58
75

.$2,240,056 66

Deposits .
Surplus:
Guaranty fund
Profit and loss

.

Interest, rents, etc.
Less current
Expenses .

. $10,533 50
208 33

1

2,150
75,787
2,000
3,165
2,394

00
00
41
00
13
79
$2,397,869 18

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

legal
.

Bank and Trust Company Stocks
N ’l Bank of Commerce, Boston
State National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
Danvers National Bank, Danvers
First National Bank, New Bedford
W arren National Bank, Peabody
Asiatic National Bank, Salem .
National Exchange Bank, Salem
Naum keag National Bank, Salem
Salem National Bank, Salem


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

10,325 17

4,196 05

$2 397,869 18

Shs.
60
37
8
75
125
20
51
100
4
21

113,000 00
34,487 35

$29,000
336,000
65,000
8 5,000
43 ,0 0 0
8 ,100

00
00
00
00
00
00

Estimated
Market Value

Book Value

$28,595
317,6 0 5
64,675
8 3,300
38,861
8 ,0 2 5

$29,000
333,860
64,400
85 ,0 0 0
3 8 ,607
8 ,100

00
00
00
00
00
00

00
00
00
00
50
00

2 5,000 00

2 5,000 00

2 5,000 00

$591,100 00

$566,061 00

$583,967 50

$6,000
3,700
800
7,500
12,500
2 ,000
5,100
3,500
400
2,100

$9,600
5 ,365
1,160
8 ,250
16,125
2 ,100
5,100
500
580
1,260

00
00
00
00
00
00
00
00
00
00

$43,600 00

00
00
00
00
00
00
00
00
00
00

$50,040 00

$6,000
4,431
880
8 ,250
14,947
2 ,000
5,100
750
281
2,100

00
25
83
00
25
00
00
00
00
00

$44,740 33

R E PO R T OF THE

78

[Pub. Doc.

Danvers Savings Bank — Concluded
T otal A m ount

of

L oans

Loans on Real
Estate

R ate

3 f per cent.
41

„

,t

.

4f

“

“

.

.

.
.

.
.

.
.

.
.

.

.

5
Si

5J
5|
6
64
6
6

7

*
f

“

“

“
“
“
“

“
“
“
“

“
“

“
“

“

“

“

“

T otals

O c t . 3 1 , 1908,

on

b e a r in g

Loans on Personal
Security

$90,800 00
493,310 00
3 ,000 00
518,007 00

$2,500 00
3,500 00
2 5,600 00
4,860 00

2 0 .0 0 0

$2,500
195,300
25.0 0 0
558,210
3 .000
527,667

00

2 0 .0 0 0

128,434 58
1 0 ,0 0 0

600

.

Average rate

00
00
00
00
00
00
00

205,931 22

00

00

1 0 ,0 0 0

104,400 00
4 ,000 00
1 ,1 0 0

Interest

of

Total Loans

4 ,800 00

7 6,896 64

.
.
.

Other Loans

$1 0 1 ,0 0 0 0 0
2 5.000 00
3 9,300 00

■

.
.
.

E a c h S p e c if ie d R a t e

00

104,400 00
4.000 00

00

1 ,1 0 0

00

$ 1 ,1 83,113 64

$ 4 3 6,934 58

$37,060 00

$1,6 5 7 ,1 0 8 22

5 .2 5 per cent.

5 .6 0 per cent.

4 .9 5 per cent.

5 .3 4 per cent.

T otal E x pen ses
Salaries
A m ount paid for
$2,800 0 0
% of total assets .1 1 6 6 of 1 %

for

Y

e a r , EXCLUSIVE OF STATE T A X E S

Rent
$400 00
.0 1 6 6 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
. $258,387 8 8
N um ber of same
3,523
A m ount of withdrawals
. $338,179 79
N um ber of same
3,767
N et increase in deposits
.
$6,779 03
D iv i d e n d s d e c l a r e d d u r in g Y e a r
A pril, 1908, 2 %
. $43,178 45
O c t., 1908, 2 %
4 3,392 49 $86,570 94
C a s h o n D e p o s it i n B a n k s
Faneuil H all N ’l Bank, Boston .
Merchants N ’l Bank, Salem
.
Danvers National Bank, Danvers

$67,3 8 4 11
4 ,417 52
5 ,985 78

M is c e l l a n e o u s
N um ber of corporators, 5 3 ; trustees, 19
Gross income rec’d during year . $ 1 1 9 ,3 9 9 9 5
State ta x (net) paid “
“
.
4 ,7 2 6 59

Advertising
$ 15 50
.0 0 0 6 o f 1 %

Other Expenses
$ 1 ,1 28 0 2
.0 4 6 9 o f 1 %

Total
$ 4,3 43 52
.1 8 0 7 o f 1 %

D e p o s it A cc ou n ts
N um ber opened during year
Num ber closed
“
“
T otal number O ct. 3 1 ,1 9 0 8 , .
Average balance “
“

482
449
5,837
$383 76

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
372
A m ount of same
.
. $ 4 4 3,588 64
N o. of loans on real estate .
4 24
Average amount of same
.
$ 2,790 36
A m ount loaned on real estate
during year
.
.
. $ 1 4 2,845 00
N o. of new real estate loans
made during year .
.
69
D ate

of

E x a m i n a t i o n , April 21, 22

DEDHAM INSTITUTION FOR SAVINGS, DEDHAM
President, W

W arren
Treasurer, A l f r e d H
Clerk of the Corporation, A l f r e d H e w i n s

in s l o w

Board of Investment: A u g u s t u s B . E n d ic o t t , D o n G l e a s o n H i l l , W
C l if t o n P. B a k e r , J o h n H . B u r d a k i n

e w in s

in s l o w

W

arren,

Incorporated March 19, 1831. Open for business every business day, except Saturdays,
9 a .m . to 12.30 p .m ., 2 to 4 p .m .; Saturdays, 9 a .m . to 1 2 m .
Deposits commence to draw interest the first day of February, M ay, August and N ovem ­
ber. Dividends are payable on .M onday following the second Saturday of M ay and
Novem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

79

Dedham Institution for Savings — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

. $853,500
Public funds
. 927,228
Railroad bonds
.
198,000
Street railway bonds
31,000
Bank and trust company stocks .
80,806
Loans to counties, cities or towns .
“
“ railroad companies
. 1 0 0 ,0 0 0
“
on bank and trust co. stocks
500
. 693,225
“
“ real estate
.1,411,537
“
“ personal security
.
35,000
Bank building and fixtures .
6 ,0 0 0
Real estate by foreclosure, etc.
.
93,490
Deposits in banks, on interest
2 ,0 0 0
“
“
“
not on interest

00
75
00
00
25

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.$4,074,780 06

.

.
.

00

00
00
50
00
00
68
00

$4,432,288 18

$4,432,288 18

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
75
25
60
150

$759,000
9 02,000

.
.
.

2 0 0 ,0 0 0

legal
.

Bank and Trust Company Stocks
National B ank of Commerce, Boston .
National Union Bank, Boston .
Peoples’ National Bank, Boston
D edham National Bank, Dedham

T otal A m ou nt

of

L oans

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

Rate

4 per cent.
M
“
“
4i “
“
4f «
“
5
5i «
“

on

81,650

00
00

$762,267 50
872,5 1 5 0 0
200,500 0 0
81,805 0 0

$758,500 0 0
892,228 75
198,000 0 0
80,806 25

00
00

$ 2 ,1 50,975

$7,500
2,500

00
00

6 ,0 0 0

00

15,000

00

$1 2 ,0 0 0
4,000
7,200
15,750

$31,000

00

$38,950

b e a r in g

2 30,000

00

00

$ 2 ,1 59,535

00

00

$7,500
2,500

00

233,887 50

230,000

00

Loans on Personal
Security

.
$6,500 00
.
574,650 00
.
2 ,500 00
109,575 00

$25,000
682,000
7 0.000
305.000
105.000
131,100
2 6,437

6 ,0 0 0

00

00

15,000

00

00

$31,000

00

Other Loans

00
00

00
00
00
00
50

“

“

6%

“

“

.

1 2 .0 0 0

6f
7

“

“

■
.

3 0.000 00
25.000 00

.

.

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00

00

E a c h S p e c if ie d R

6

T otals

Book Value

$2,172,650

5Ï

“

00
00

Estimated
Market Value

$44,650 00
.
•
.
.
.

203,845 16
153,662 96

3 6 ,156 25
75.000 00
25.000 00
500 00

00

ate of

I nterest

Total Loans
$44,650
2 5.000
724,656
70.000
954,6 5 0
130,000
133,600
136,512

00
00
25
00
00
00
00
50

1 2 .0 0 0

00

3 0.000 00
2 5.000 00

$693,2 2 5 00

$ 1 ,4 11,537 50

$181,306 25

$ 2 ,2 8 6 ,0 6 8 75

5 .1 5 per cent.

4 .9 0 per cent.

4 .6 9 per cent.

4 .9 6 per cent.

80

R E PO R T OF THE

[Pub. Doc,

Dedham Institution for Savings — Concluded
T otal E xpen ses

Salaries
Am ount paid for
$ 6,774 00
% of total assets . 1528 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$ 1 ,000 00
.0 2 2 5 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
A m ount of deposits .
. $480,312 39
Num ber of same
6,113
Am ount of withdrawals
. $ 6 5 3,815 55
N um ber of same
7,213
N et decrease in deposits
. $16,983 75
D i v i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, 2 %
. $78,341 40
M ay, 1908, 2 %
. 78,178 01 $156,519 41
C a s h o n D e p o s it i n B a n k s
N ational Shawmut Bank, Boston
D edham National Bank, D edham

$15,030 60
8 0,460 08

M is c e l l a n e o u s
N um ber of corporators, 7 4 ; trustees, 15
Gross income rec’d during year . $ 2 0 6,392 19
State ta x (net) paid “
“
.
1 6,366 85
D ate

of

E x a m i n a t i o n , M ay 4

of

St a t e T a x e s

Advertising Other Expenses
$819 02
.0 1 8 5 of 1 %
B a n k B u il d in g
B ook value
Estim ated value
Assessed value .
N et income

std

Total
$8,593 02
.1 9 3 8 of 1 %

F ix t u r e s
. $35,000
.
50,000
.
62,500
1,045

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

00
00
00
94

807
1,067

10,010
$407 07

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
235
A m ount of same
.
. $348,425 00
N o. of loans on real estate .
303
Average amount of same
.
$2,287 87
A m ount loaned on real estate
during year
.
.
. $ 28,000 0 0
N o. of new real estate loans
made during year .
.
15

DORCHESTER SAVINGS BANK, DORCHESTER
President, F r e d ’ k L . W a l k e r
Treasurer, G e o . W . B r a d f o r d
Clerk of the Corporation, F r a n k M . W h it m a n
Board of Investment:

F r e d ’ k L . W a l k e r , Jn o . B . L . B a r t l e t t , H e r b e r t W . B u r k e ,
W m . H . R o b e y , E d w i n S. W o o d b u r y

Incorporated April 16, 1894. Open for business every business day, except Saturdays,
2 to 7 p .m . ; Saturdays, 2 to 9 p .m .
Deposits commence to draw interest the second W ednesd ay of January, April, July and
October. Dividends are payable the second Thursday of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L ia b il it ie s

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Telephone company bonds .
Loans to counties, cities or towns .
“
“ railroad companies
‘ on bank and trust co. stocks
“
“ real estate
“
“ personal security
Real estate by foreclosure, etc.
Furniture and fixtures .
Deposits in banks, on interest
Cash on hand
.
.
.
.
Checks and cash items

$68,226
95,806
3,000
4,525
8,840
5,125
4,555
408,275
74,422
3
500
24,404
1,760
145

87
25
00
00
00
00
00
00

91
50

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

$677,757 98
9,951 57
11,656 36

$813 52
243 48

570 04

00
02

90
00

$699,935 95

$699,935 95

81

BANK COMMISSIONER

No. 8]

Dorchester Savings Bank — Concluded
Schedule

op

Par Value

Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

T otal A m ou nt

of

L oans

on

$65,887
94,000
3,000
5,000
8,900

.
.
.

legal
.

O c t . 31, 1908,

3^ per cent.
4
<<
“
4f
5
5i
6
7

“

“

“

“

“

“

“

“

T otals

:
.
.

:
.
.

.

.

6 ,0 0 0

fob

Salaries
Am ount paid for
$1 ,3 4 5 78
% of total assets .1 9 2 2 of 1 %
D e p o s it s a n d W it h d r a w a l s
Am ount of deposits .
Num ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

Y

$186,912 00

$176,410 12

$185,523 12

00

1 0 ,0 0 0

00

of

Interest

Total Loans

Other Loans

$1,940 00
6,900 00

$1,940 00
16,900 00

9 ,1 2 5 00

331,8 2 5 00
29 ,3 2 5 00
105,227 91

1 0 ,0 0 0

555 00

6 ,0 0 0

e a r , e x c l u s iv e

$450 00
.0 6 4 2 of 1 %
Y ear
. $ 2 6 3,966 06
8,954
. $274,540 12
6,359
. $10,042 41

d u r in g

$5,683 79
16,236 64
2,483 59

M is c e l l a n e o u s
N um ber of corporators, 2 0 ; trustees, 16
Gross income rec’d during year . $30,435 57
State ta x (net) paid “
“
.
1,392 84

00

00

$18,520 00

$501,217 91

4 .5 0 per cent.

5 .1 3 per cent.

$74,422 91
5 .4 6 per cent.

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, l f %
. $10,175 91
O ct., 1908, l f % )(
. 10,440 56 $20,616 47


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

E a c h S p e c if ie d R a t e

$1 0 ,0 0 0

Rent

C a s h o n D e p o s it i n B a n k s
W inth rop National Bank, Boston
Liberty Trust Co., Boston .
.
Mechanics Trust Co., Boston
.

87
25
00
00
00

10,125 00

15,000 00
39,422 91

5 . 2 0 per cent.

T otal E xpen ses

$ 66,226
92 ,8 0 6
3 ,000
4 ,5 2 5
8,840

37
00
00
75
00

00

$408,2 7 5 00

.

Average rate

$64,296
86 ,1 8 5
2 ,9 8 5
4 ,518
8,900

9 ,5 2 5 00

b e a r in g

$322,700 00
14,325 00
65,250 00

Book Value

10,125 00

Loans on Personal
Security

Loans on Real
Estate

Rate

00
00
00
00
00

Estimated
Market Value

of

Sta t e T a x e s

Advertising

Other Expenses

$132 00
.0 1 8 8 of 1 %

$710 26
.1 0 1 4 of 1 %

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

Total
$ 2,638 0 4
3766 of 1 %

894
838
6,128
$110 60

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
78
Am ount of same
.
. $ 1 3 1,425 00
N o. of loans on real estate .
155
Average amount of same
.
$2 ,6 3 4 03
Am ount loaned on real estate
during year
.
.
. $59,200 00
N o. of new real estate loans
made during year
21
D a t e o f E x a m i n a t i o n , August 31 an d
September 1

82

REPO RT OF THE

[Pub. Doc.

EAST BOSTON SAVINGS BANK, EAST BOSTON
President, G e o r g e T . S a m p s o n
Clerk of the Corporation, W

m.

Treasurer, W
B. P ig e o n

m.

B. P ig e o n

Board of Investment: J o h n T h o m p s o n , W m . B . P i g e o n , A . R . H o o p e r , J o h n E . L y n c h ,
F r e d e r i c k P e a s e , G e o . M. P o r t e r , R o b e r t J. G o y e
Incorporated April 26, 1848.
also Saturdays, 7 to 9
1 p . m . Saturdays

Open for business every business day, 9 a . m . to 2 p .m . ;
. ; during June, July, August and September, close at

p .m

Deposits commence to draw interest the third W ednesd ay of January, April, July and
October.
Dividends are payable the M onday following the third W ednesday of
January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
. $535,000
Railroad bonds .
. 937,875
Street railway bonds
. 2 0 0 ,0 0 0
Bank and trust company stocks . 125,300
Loans to railroad companies
60,000
' on real estate
.2,661,993
personal security
. 465,134
Bank building and fixtures .
.
1 0 ,0 0 0
Real estate by foreclosure, etc.
3,638
Taxes, insurance, etc., paid on
mortgaged properties
4
Deposits in banks, on interest
. 215,378
Cash on hand
9,788
Checks and cash items
311

00
00
00
00
00
00

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$4,774,577 16
.

83
00

69

Interest, rents, etc.
Less current
Expenses,

. $37,707
.

26
54
15
72

Shs.
100
20
150
150
50
170
300
100
113
25

.
.
.

.
.
.

now legal
.
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Commercial National Bank, Boston
First National Bank, Boston
First W a rd National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston
National Shawmut Bank, Boston
Second National Bank, Boston .
State National Bank, Boston
Trem ont National Bank, Boston


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

33,196 92

$5,224,424 19

Par Value

Schedule op Securities Owned

00

4,510 08

$5,224,424 19

Public funds
.
.
.
Railroad bonds
.
.
.
Street railway bonds
.
.
Loans to railroad companies .
Bonds and notes which are not
investments
.
.
.

237,129 8 6
179,520 25

$457,000
939,000
175,000
60,000

00
00
00
00

Estimated
Market Value
$468,550 0 0
969,102 50
175,750 0 0
60,175 0 0

Book Value

$457,000
937,8 7 5
175,000
60,000

00
00
00
00

103,000

00

106,140

00

103,000

00

$1,734,000

00

$1,779,717 50

$ 1 ,7 32,875

00

$1 0 ,0 0 0

00

2 ,0 0 0

00

15,000
15,000
5,000
17,000
30,000

00

1 0 ,0 0 0

00

11,300
875

00
00

$14,000
2,800
47,100
26,250
10,850
27,200
87,000
21,500
16,385
25

$116,175

00

$253,110

00
00
00
00

00

$ 1 0 ,0 0 0

00

00

2 ,0 0 0

00

00

15,000
15,000
5,000
17,000
40,000

00

00
00
00
00

00
00
00
00

00

1 0 ,0 0 0

00

00

11,300

00

$125,300

00

00
00

83

BAN K COMMISSIONER

No. 8]

East Boston Savings Bank — Concluded
T

otal

A m ount

of

L oans

T otals

O c t . 31, 1908,

•
.
•
.
.

.
•
.

.

Average rate

b e a r in g

$160,000

00

2 2 ,0 0 0

00

$ 25,000
172,500
50.000
77,539
5 5.000
34,700
5 0 ,395

2,3 4 3 ,8 9 3 00
96 ,5 0 0 00
3 9,600 00
$ 2 ,6 61,993 00
5 .0 0 per cent.

4 .9 0 per cent.

Salaries
A m ount paid for
$11,551 17
% of total assets . 2 2 1 1 of 1 %

for

Y

e a r , e x c l u s iv e

Rent

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $928,111 00
17,094
N um ber of same
$1,0 8 0 ,3 4 0 58
Am ount of withdrawals
17,749
N um ber o£ same
. $23,176 28
N et increase in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $88,797 18
July, 1908, 2 % .
. 88,631 64 $177,428 82
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $66,920 76
Second National Bank, Boston .
69 ,8 8 4 13
First W a rd N ’l Bank, Boston
.
78,573 65
M is c e l l a n e o u s
N um ber of corporators, 3 0 ; trustees, 25
Gross income rec’d during year . $250,060 25
State ta x (net) paid “
“
■
10,261 58
of

ate of

$ 25,000
3 32,500
7 2.000
2,4 5 6 ,4 3 2
55.000
131,200
114,995

$35,000 00

2 5,000 00
$ 60,000

00
00
00
00
00
00
83

$ 3 ,1 87,127 83

00

4 .9 9 per cent.

5 .4 1 per cent.

of

State T a x e s

Advertising
$303 14
0058 of 1 %

Other Expenses
$2,321 05
.0 4 4 4 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value
.
N et income
.

Interest

Total Loans

Other Loans

00
00
00
00
00
00
83

$4 6 5 ,1 3 4 83

T otal E xpen ses

D ate

E a c h S p e c if ie d R

Loans on Personal
Security

Loans on Real
Estate

R ate

4 per cent.
44 “
“
4} “
“
5
“
“
5i “
“
5i “
“
6“ “ “

on

an d

.
.
.
.

Total
$14,1 7 5 36
.2 7 1 3 of 1 %

F ix t u r e s
• $ 10,000
.
2 5,000
.
2 3,600
.
217

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

00
00
00
78

1,639
1,586
15,560
$306 84

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
928
Am ount of same
.
$ 1 ,6 26,632 00
N o. of loans on real estate .
1,103
Average am ount of same
.
$2,413 41
Am ount loaned on real estate
during year
.
.
. $ 2 3 4,050 00
N o. of new real estate loans
made during year .
.
105

E x a m i n a t i o n , M ay 1

EAST BRIDGEW ATER SAVINGS BANK, EAST BRIDGEW ATER
President, E d w a r d H o b a r t
Treasurer, C h a r l e s F . M a n n
Clerk of the Corporation, C h a r l e s F . M a n n
Board of Investment:

E d w a r d H o b a r t , E l ia b N . W A r d , R
E z r a S. W h i t m a r s h , I s a a c N . N u t t e r

ic h a r d

W . N utter,

Incorporated March 8 , 1870. Open for business every business day, except W ednesdays
and Saturdays, 9 a .m . to 12 m ., 2 to 4 p .m .; Saturdays, 9 a .m . to 12 m .; W ed nesd ays,
6.30 to 8 p .m .
Deposits commence to draw interest the first Tuesday of January, April, July and October
Dividends are payable the first T uesday of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

84

R E PO R T OF THE

[Pub. Doc,

East Bridgewater Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
$15,000
Railroad bonds .
.
.
.
167,350
14,750
Street railway bonds
Boston Terminal Company bonds .
25,000
Bank and trust company stocks
24,600
Loans to counties, cities or towns .
20,475
“
“ railroad companies
14,987
“
on
bank and trust co. stocks2,500
“
“ depositors’ books
290
“
“ real estate
963,703
“
“ personal security
418,737
Bank building and fixtures .
1 0 ,0 0 0
11,619
Deposits in banks, on interest
Cash on hand
.
.
.
.
1,224
Checks and cash items
1,501

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

00
00
00
00
00
00

.

.

.$1,549,795

.
.

.
.

.
.

50
00
00

25
50

Interest, rents, etc.
Less current
Expenses .
.

. $33,456 59
.

1,607 91

$1,691,739 69

Par Value
.
.
.

$5,000
146,000
15,000
2 5,000
2 0 ,4 7 5

legal
.

Shs.
Bank and Trust Company Stocks
12 First National Bank, Boston
75 Fourth National Bank, Boston .
2 4 State National Bank, Boston
15 State Street Trust Co., Boston .
20 W ebster and A tlas N ’l Bank, Boston .
50 Brockton National Bank, Brockton
25 H om e National Bank, Brockton
25 Plym outh Co. S. D. & Tr. Co., Brockton

00
00
00
00
00

L oans

5
5i

5f
6
6i

“
“
“
“
“

Totals

“
“
“
“
“

.

.

$15,000 00

.
.
•

.
.

700,491 00
102,725 00

.

145,487 25

-

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Book Value

$ 4,975
139,075
14,925
2 4,500
20 ,4 7 5

$5,000
143,300
14,750
25 ,0 0 0
20 ,4 7 5

00
00
00
00
00

00
00
00
00
00

50,000 00

49 ,0 5 0 00

49,037 50

$253,000 00

$257,562 50

$1 ,2 0 0 0 0
7,500 00
2 ,400 00
1,500 00

$3,768 00

$1 ,2 0 0 0 0
7 ,500 00
2 ,400 00
1,500 00

2 ,0 0 0

00

5,000 00
2 ,500 00
2 ,500 00

O c t . 31, 1908,

Loans on Real
Estate

R ate

4 per cent.
44 “
“
4f “
“

on

Estimated
Market Value

$ 2 6 1,475 00

$24,600 00

of

68

90
60
94

Schedule of Secubities Owned

T otal A m ou nt

31,848

00

$1,691,739 69

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

86

76,850 0 0
33,245 15

b e a r in g

1 2 ,0 0 0

00

3 ,480
3 ,7 5 0
2 ,900
6,500
5,000
2 ,500

00
00
00
00
00
00

$39,898 00

E a c h S p e c if ie d R

Loans on Personal
Security

$145,000
40 .0 0 0
75,800
6 3,400

00
00
00
00

1 0 .0 0 0

00

47 ,5 3 7 50
37 ,0 0 0 00

Other Loans

$15,000 00
5 ,475 00
17,487 50

2 ,0 0 0

00

5,000 00
2 ,5 0 0 00
2 ,5 0 0 00
$24,600 00

ate of

I nterest

Total Loans

$15,000
165,475
4 0.000
793,778
166,125
1 0 .0 0 0

00
00
00
50
00
00

290 00

193,314 75
3 7,000 00

$963,703 25

$418,737 50

$ 38,252 50

$ 1 ,4 2 0 ,6 9 3 25

5 .1 9 per cent.

5 .1 1 per cent.

4 .5 4 per cent.

5 .1 5 per cent.

BANK COMMISSIONER

No. 8]

85

East Bridgewater Savings Bank — Concluded
T otal E xpen ses
Salaries
Am ount paid for
$3,057 25
% of total assets . 1807 of 1 %
D e p o s it s a n d W it h d r a w a l s
Am ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

for

Y

e a r , e x c l u s iv e

Rent
$107 70
.0 0 6 3 of 1 %
d u r in g Y e a r
. $194,745 9 4
.
1,985
. $224,117 78
.
2,299
. $29,590 89

D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $29,163 94
July, 1908, 2 % .
. 29,798 79 $58,962 73
Ca sh o n D e p o s it in B a n k s
Commercial N ’l Bank, Boston
.
Fourth National Bank, Boston .
Plym ou th Co. Safe Deposit &
Trust Co., Brockton
.
.

$2,519 27
7,869 73
1,230 90

M is c e l l a n e o u s
N um ber of corporators, 4 2 ; trustees, 18
Gross income rec’d during year . $84,896 33
State ta x (net) paid “
“
.
3,121 52
D ate

of

of

St a t e T a x e s

Advertising
$39 98
.0 0 2 3 of 1 %

Other Expenses
$921 93
.0 5 4 4 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

Total
$ 4,126 8 6
.2 4 3 7 of 1 %

F ix t u r e s
. $ 10,000 00
.
10,000 00
.
8 ,5 0 0 00

and

.
.
.

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

300
228
3,381
$458 39

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
237
Am ount of same
.
. $291,082 25
N o. of loans on real estate
.
335
Average am ount of same
. $2 ,8 7 6 72
Am ount loaned on real estate
during year
.
.
. $ 1 9 1,075 00
N o. of new real estate loans
made during year .
.
47

E x a m i n a t i o n , N ovem ber 16

EAST CAMBRIDGE SAVINGS BANK, EAST CAMBRIDGE
President, G u s t a v u s G o e p p e r
Clerk of the Corporation, W

m.

Treasurer, W
E . L loyd

m.

E . L loyd

Board of Investment: G u s t a v u s G o e p p e r , A l v i n F . S o r t w e l l , D a v id P r o u d f o o t ,
W m . G o e p p e r , Ch a s . W . D a il e y
Incorporated April 29, 1854. Open for business every business day, except Saturdays,
9 a .m . to 1 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the fifteenth day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

Public funds
.
.
.
.
$190,000
Railroad bonds .
.
.
.
470,292
Street railway bonds .
.
. 155,000
Telephone company bonds .
.
31,575
Bank and trust company stocks .
57,800
Loans to counties, cities or towns .
9,000
“
“ railroad companies .
.
70,000
100
“
on bank and trust co. stocks
“
“ depositors’ books .
.
3,000
“
“ real estate
.
.
.2,787,044
“
“ personal security .
. 931,550
Bank building and fixtures .
.
30,178
Real estate by foreclosure, etc.
.
9,136
Taxes, insurance, etc., paid on
mortgaged properties
.
.
1,752
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
31,975
Deposits in banks, on interest
.
51,819
Cash on hand
.
.
.
.
19,516
Checks and cash items
.
.
1,847

00
36
00
00
00
00
00
00
00
35
00
86
58

.$4,442,752 04

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest
Less current
Expenses .

.
.

$261

10

621 43

360 33*

39
24
25
47
48

$4,851,587 98
* Excess of expense over interest collected during month of October.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

226,160 71
183,035 56

$4,851,587 98

86

R E PO R T OF TH E

[Pub. Doc,

East Cambridge Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
12
20
50
90
67
58
54
20
8

50
106
26
33
11
35
30
13

Estimated
Market Value

Par Value

Schedule op Securities Owned

.
.
.

$190,000
476,000
155,000
3 5 ,000
9,000

legal
.

Bank and Trust Company Stocks
Eliot National Bank, Boston
Faneuil H all N ’l Bank, Boston
First W a rd National Bank, Boston
Metropolitan N ’l Bank, Boston
N ’l Bank of Commerce, Boston
N ’l Bank of the Republic, Boston
National Union Bank, Boston .
N ew England N ’l Bank, Boston
State National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
Lechmere N ’l Bank, Cambridge
National City Bank, Cambridge
Concord National Bank, Concord
Fall R iver N ’l Bank, Fall River
First National Bank, Marlborough
Merchants N ’l Bank, Newburyport
New ton National Bank, Newton

.

00
00
00
00
00

$ 1 8 9,984
472,7 7 5
162,975
31,631
9 ,000

of

L oans

Loans on Real
Estate

R ate

4^ per cent.
4f “
“
4f “
“
5
“
“
5i “
“
5i “
“
5f “
“
6
6

i

6i

“
“

Totals

“
“
“

.
.
.
.
■
•

.
.
.
.
•
■

.
.
.

.
.
.

.

Average rate

7 9,050 00
29 ,1 8 8 30

70,000 00

70,000 00
$925,867 36

$ 1 ,2 0 0

00

2 ,0 0 0

00

$2,340
2 ,7 6 0
8,750
10,800
10,720
2,900
8 ,640
2,800
1,160
7 ,250
19,080
2 ,678
4 ,9 5 0
1,430
4 ,3 7 5
750
650

-

5,400 00
2 ,0 0 0

00

800 0 0
5,000 00
10,600 0 0
2 ,600 0 0
3,300 00
1 ,1 0 0

00

3 ,5 0 0 00
600 0 0
650 00

$203,000
6 0 ,000
149.000
152,050
116.000
145,000
6 0,000
3 5,000
9 ,0 0 0
2 ,5 0 0

Y

73,100 00

00

00
00
00
00

4 .9 4 per cent.

of

St a t e T a x e s

Advertising
$403 75
.0 0 8 3 of 1 %

Other Expenses
$2,823 47
.0 5 8 2 of 1 %

00

800 0 0
5,000 00
10,600 0 0
2 ,600 0 0
3 ,300 00
1 ,1 0 0

00

2 ,850 00
600 0 0
650 00
$57,800 00

ate of

00

e a r , e x c l u s iv e

Rent
$753 74
.0 1 5 5 of 1 %

00
00
00
00
00
00
00
00

$9,000 00

$82,100

-

5,400 00
2 ,0 0 0

00

00

$931,550 00

00

00

Other Loans

00
00

00

2 ,0 0 0

4 ,000 00
9 ,000 00
6,700 00

00
00
00

$92,033 00

00

$ 1 ,2 0 0

00

00

5 .0 3 per cent.

for

00
00
00

E a c h S p e c if ie d R

5 . 0 2 per cent.

Salaries
A m ount paid for $10,266 23
% of total assets .2 1 1 6 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

b e a r in g

$ 2 ,7 8 7 ,0 4 4 35

T otal E xpen ses

00
36
00
00
00

$936,365 25

Loans on Personal
Security

$ 2 ,6 78,806 05

$190,000
4 70,292
155,000
3 1 ,5 7 5
9 ,000

70,000 00

5,000 00
9 ,000 00
6,700 00

O c t . 31, 1908,

on

00
00
00
25
00

$935,000 00

$59,450 00

T otal A m ount

Book Value

Interest

Total Loans

$2 1 2 , 0 0 0
6 0,000
149.000
2 ,9 0 3 ,9 5 6
116.000
2 2 4 ,0 5 0
60,000
6 4,188
9 ,0 0 0
2 ,500

00
00

00
05
00

00
00

30
00
00

$ 3 ,8 0 0 ,6 9 4 35
5 .0 2 per cent.

Total
$ 14,247 19
.2 9 3 6 of 1 %

No. 8]

BANK COMMISSIONER

87

East Cambridge Savings Bank — Concluded
D e p o s it s a n d W it h d r a w a l s
A m ount of deposits .
Num ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

Y ear
$765,660 50
13,205
$ 9 3 1,364 15
11,884
$21,905 91

d u r in g

Y
April, 1908, 2 \ %
O ct., 1908, 2 i %

Ca s h

on

ear

$93,489 18
$187,609 56

D e p o s it

in

B anks

$16,342 35
City Trust Co., Boston
Cambridge Trust Co., Cambridge .
15,142 08
Lechmere N ’l Bank, Cambridge . 2 0,334 82

M is c e l l a n e o u s
N um ber of corporators, 4 1 ; trustees, 17
Gross income rec’d during year . $237,004 12
State ta x (net) paid “
“
8 ,2 5 6 55

D ate

of

B a n k B u il d in g
Book value
Estim ated value
Assessed value .

and

F ix t u r e s
$ 30,178 8 6
4 0,000 0 0
3 7,000 00

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
T otal num ber O ct. 3 1 ,1 9 0 8 .
Average balance “
“

1,375
1,587
11,427
$388 79

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
852
Am ount of same
.
$1,348,469 35
N o. of loans on real estate .
1,135
Average amount of same
$ 2,455 54
Am ount loaned on real estate
during year
.
.
. $ 3 9 8,385 00
N o. of new real estate loans
made during year .
.
137

E x a m i n a t i o n , July 28, 29

EASTHAMPTON SAVINGS BANK, EASTHAMPTON
President, F. W . P it c h e r
Treasurer, C. H . J o h n s o n
Clerk of the Corporation, F . E . J u d d
Board of Investment: F . W . P i t c h e r , G e o . L . M a n c h e s t e r , F . P . N e w k i r k
Incorporated Feb. 10, 1869. Open for business every business day, except Saturdays,
9 a . m . to 3 p .m .; Saturdays, 9 a .m . to 12 m ., 7 to 8 p .m .
Deposits commence to draw interest the fourth Tuesday of January, April, July and
October. Dividends are payable the fourth Tuesday of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to railroad companies
“ on bank and trust co. stocks
“
“ depositors’ books
“
“ real estate
“
“ personal security
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Furniture and fixtures
Deposits in banks, on interest
Cash on hand
.
.
.
.
Checks and cash items .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$19,284 27
133,145 0 0
21,925 0 0
18,900 0 0
90,522 50
1 0 ,0 0 0

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$1,289,251 47
60,500 00
4,729 74

00

300 0 0
350 0 0
732,212 28
174,114 18

Interest, rents, etc.
Less current
Expenses .

$4,817 94
1,080 05

3,737 89

74,647 97
2 ,2 0 0

00

78,519 93
2,029 43
6 8 54

$1,358,219 10

$1,358,219 10

R E PO R T OF THE

[Pub. Doc

Easthampton Savings Bank — Continued
Par Value

Schedule of Securities Owned

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.

.
.

.
.
.

.

.
.
.

$15,000 00
129,000 00
15,000 00
2 1 ,0 0 0

not now legal
.
.
.

00

31 ,0 0 0 00

66

19
100
10
20
60
122
100
165
50

Bank and Trust Company Stocks
First National Bank, A dam s
State National Bank, Boston
First National Bank, Eastham pton .
Monson National Bank, Monson
Hampshire Co. N 'l Bank, N ’hampton
Pittsfield National Bank, Pittsfield .
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .
Springfield National Bank, Springfield
First National Bank, W estfield

T otal A m ount

of

L oans

4 f per cent.
5
“
“
5i “
“

.
-

.

5i

•

•

.

.

6
6

Y

V

“
“
“
“

“
“
“
“
<<

.
.

$40,000
588,693
3 9,197
42,681
550
2 1,090

.

$203,254 27

$6,600 0 0
1,900 00

$7,590 00
2 ,7 5 5 00

$ 8 ,250 00
2,372 50

1 0 ,0 0 0

00

1 0 ,0 0 0

00

1 0 ,0 0 0

00

1 ,0 0 0

00

1 ,2 0 0

00

1 ,2 0 0

00

Average rate

5

5 .0 6 per cent.

T otal E xpen ses

Salaries
Am ount paid for
$ 3,037 41
% of total assets .2 2 3 6 of 1 %
D e p o s it s a n d W it h d r a w a l s
A m ount of deposits .
N um ber of same
A m ou n t of withdrawals
N um ber of same
N e t increase in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

for

2,060 0 0
9 ,6 0 0 00

00

6 ,0 0 0

00

1 2 ,2 0 0

00

1 2 ,2 0 0

1 0 ,0 0 0

00

16,500 00
5,000 00

15,000 00
3 4 ,650 00
6,750 00

$71,200 00

$101,805 00

b e a r in g

Y

Other Loans

2 ,0 0 0

00

$1 0 ,0 0 0

2 ,0 0 0

00

2 ,0 0 0

00

9 ,6 0 0
14,008
16,500
2 0,092
6,500

00
00
00
00
00

$90,522 50

of

I nterest

Total Loans

$ 40,000
652,890
4 1,197
44,681
550
136,658
299
700

00

650 00

00
46
50
50
00
00
00
00

$ 1 7 4,114 18

$10,650 00

$916,976 46

per cent.

5 .0 6 per cent.

5 .1 8 per cent.

.6 8

e a r , e x c l u s iv e

of

Rent

Advertising

$450 00
.0331 of 1 %

$105 90
.0 0 7 7 of 1 %

Y ear
. $249,892 74
3 ,6 8 4
. $271,143 64
3,173
. $26,693 09

d u r in g

00

E a c h S p e c if ie d R a t e

114,918 00
299 00
700 00

$732,212 28

.

27
00
00
00

$197,248 75

$54,197 18

!

T otals

$15,284
123,545
14,925
18,900

50
50
00
75

00

Loans on Personal
Security

00
28
50
50
00
00

$15,382
117,137
14,775
18,978

30 ,6 0 0 00

2 ,0 0 0

O c t . 31, 1908,

Loans on Real
Estate

R ate

5f

on

Book Value

30,9 7 5 00

$2 1 1 , 0 0 0
Shs.

Estimated
Market Value

St a t e T a x e s

Other Expenses
$1,140 92
0840 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 3 1 ,1 9 0 8 .
Average balance “
“

Total
$4 ,7 3 4 23
.3 4 8 4 of 1 %

582
484
3,750
$343 80

89

BANK COMMISSIONER

No. 8]

Easthampton Savings Bank — Concluded
S t a t is t ic s o f L o a n s
No. not exceeding $3,000 each
506
Am ount of same
.
. $ 5 1 8,895 46
N o. of loans on real estate .
455
Average am ount of same
.
$1,609 25
Am ount loaned on real estate
$5,000 0 0
during year
.
.
. $66,841 00
5,000 0 0
N o. of new real estate loans
29,818 31
made during year .
.
72
2 0 1 62*
28,500 0 0
1 0 ,0 0 0 0 0
D a t e o f E x a m i n a t i o n , July 8

D iv i d e n d s d e c l a r e d d u r i n g Y e a r
Jan., 1908, 2 % .
. $23,8 1 4 22
July, 1908, 2 % .
. 2 4,129 77 $47,943 99
C a s h o n D e p o s it i n B a n k s
First National Bank, A dam s
Conway National Bank, Conway
First N ’l Bank, Eastham pton
Pynchon N ’l Bank, Springfield
Springfield N ’l Bank, Springfield
W are National Bank, W are
M is c e l l a n e o u s
Num ber of corporators, 3 2 ; trus
Gross income rec’d during year
State ta x (net) paid “
“

is, 18
$62,460 50
2 ,194 51
* In liquidation.

EAST W EYM OUTH SAVINGS BANK, EAST WEYMOUTH
President, N . D . C a n t e r b u r y
Treasurer, J o h n A . R a y m o n d
Clerk of the Corporation, J o h n A . R a y m o n d
Board of Investment: N . D . C a n t e r b u r y , T . H . E m e r s o n , W m . H . P r a t t , J o h n W . B a t e s
E d m u n d G. B a t e s , C i i a s . B . C u s h in g
Incorporated Feb. 20, 1872.
9 a .m . to 1 2

Open for business every business day, except; Saturdays,
to 5 p .m ., Saturdays, 9 a .m . to 1 2 m .

m ., 2

Deposits commence to draw interest the tenth day of January, April, July and October
Dividends are payable the tenth day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

$36,000 00
Public funds
112,400 00
Railroad bonds .
15,000 00
Street railway bonds
26,350 00
Telephone company bonds .
5,240 00
Bank and trust company stocks
400 00
Loans on bank and trust co. stocks
“
“ real estate $1,016,033 65
Less, due on mtge. loans 2,600 00 1,013,433 65
355,465 00
Loans on personal security .
27,225 17
Bank building and fixtures .
Stocks, bonds, etc., taken to secure
2,000 00
indebtedness
18,433 30
Deposits in banks, on interest
2,769 53
Cash on hand
.
.
.
.
208 0 0
Checks and cash items

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.
.
.

.$1,481,733 34
.
.

$1,614,924 65

Public funds
.
.
Railroad bonds
.
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.

.
.

$36,000 00
114,000 00
3 0,000 00

not now legal
.
.
.

/

74,075 00
59,116 31

$1,614,924 65

Par Value

Schedule op Securities Owned

.
.

Estimated
Market Value

Book Value

$ 36,050 00
115,250 00
2 7,112 50

$36,000 00
112,400 00
2 6,350 00

15,000 00

15,375 00

15,000 00

$ 1 9 5,000 00

$193,787 50

$189,750 00


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

91

BANK COMMISSIONER

No. S]

ELIOT FIV E CENTS SAVINGS BANK, BOSTON
President, J o h n C a r r
Treasurer, F r a n k E . G r a n g e r
Clerk of the Corporation, F r a n k E . G r a n g e r
Board of Investment: J o h n C a r r , W il l ia m S. L e l a n d , G r e e n l e a f C. G e o r g e ,
G e o r g e E . B u l l a r d , T h o m a s S. L o c k w o o d , A l b e r t J. F o s t e r
Incorporated Feb. 4, 1864. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the second W ednesday of January, April, July and
October. Dividends are payable the Thursday following the second W ed nesd ay of
April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L ia b il it ie s

ssets

. $562,500
Public funds
.1,359,356
Railroad bonds .
. 132,000
Street railway bonds
9,037
Telephone company bonds
2 0 ,1 0 0
Bank and trust company stocks .
Loans on bank and trust co. stocks
440
.2,312,211
“
“ real estate
. 2,004,245
“
“ personal security
.
35 615
Real estate by foreclosure, etc.
“
“
in possession
37,000
375
Short and surplus account
. 284,343
Deposits in banks, on interest
5,000
“
“
“
not on interest

.$6,427,782 67

Deposits .
Surplus:
Guaranty fund
Profit and loss

00

25
00

50

.

34
83
07

Interest, rents, etc.
Less current
Expenses .

00

.

$2,016 07

.

1,150 21

.
.
.

.

$6,762,224 77

$537,500 00
1,349,000 00
132,000 00

.
.
.

1 0 ,0 0 0

not now legal
.
.
.

L oans

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

$15,000
111,400
23,000
531,040

00
00
00
00

00
50
00
50

$537,500
1 ,338,356
132,000
9 ,037

00
25
00
50

46,000 00

46,1 2 5 00

4 6,000 00

$ 1,989,780 00

$ 2,062,893 75

$3,000 00
17,100 00

$6,510 00
2 0,520 00

$3,000 00
17,100 00

O c t . 3 1 , 190 8 ,

Loans on Real
Estate

Rate

3^ per cent.
4
“
“
4i “
“
4* “
“

on

00

$514,965
1,287,787
131,865
9 ,037

Book Value

$2,0 7 4 ,5 0 0 00

$2 0 , 1 0 0

of

Estimated
Market Value

Par Value

Shs.
Bank and Trust Company Stocks
30 Merchants National Bank, Boston
171 Peoples’ National Bank, Boston

T otal A m ount

86

00

Schedule op Securities Owned

.
.

865

26
52

$6,762,224 77

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.

268,102 75
65,473 49

00
00

b e a r in g

00

$ 27,030 00

E a c h S p e c if ie d R

Loans on Personal
Security

_
—

$175,000 00
772,300 00

Other Loans

_
—
-

$2 0 , 1 0 0

ate of

00

Interest

Total Loans

$ 15,000
111,400
198,000
1 ,303,340

00
00
00
00

92

RE PO R T OF THE

[Pub. Doc,

Eliot Five Cents Savings Bank — Concluded
T otal A m ount

of

L oans

R ate

4 f per cent.
5

“

“

5i

“

“

.
.

5Ì

5f
6
6Ï

.

O c t . 31, 1908, b e a r i n g E a c h S p e c if ie d R
— Concluded

on

Loans on Real
Estate

Loans on Personal
Security

$ 4,500 00
1,550,671 34

$25,000
296,500
3 85.000
150.000
50.000
7 5 ,445
75.000

1 ,2 0 0

00

“
“

“
“

.
.

.
.

46,300 00

“

“

.

.

2 9,100 00

“

“

Totals

.

Average rate

$ 2 ,0 0 4 ,2 4 5 83

4 .8 4 per cent.

4 .9 4 per cent.

T otal E x pen ses
Salaries
Am ount paid for
$13,802 8 6
% of total assets .2041 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$3,000 00
.0 4 4 4 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
Am ount of deposits .
$1,159,241 40
N um ber of same
19,171
Am ount of withdrawals
$1,2 8 0 ,2 6 5 25
N um ber of same
16,932
N et increase in deposits
. $116,773 15
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$ 1 1 8,156 29
O ct., 1908, 2 %
. 119,640 71 $237,797 00
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $103,946 61
Merchants National Bank, Boston 107,668 54
Peoples’ National Bank, Boston .
77 ,7 2 8 37
M is c e l l a n e o u s
N um ber of corporators, 5 3 ; trustees, 24
Gross income rec’d during year . $295,343 47
State ta x (net) paid “
“
.
18,576 2 0

Other Loans

00
00
00
00
00
83
00

$2,312,211 34

ate of

Total Loans

$ 29,500
1,847,171
386,200
196,300
50.000
104,985
75.000

$440 00

6 .0 0

I nterest

00
34
00
00
00
83
00

$440 00

$4,3 1 6 ,8 9 7 17

per cent.

4 .8 9 per cent.

of

St a t e T a x e s

Advertising
$79 00
0 0 1 2 of 1 %

Other Expenses
$2,431 83
.0 3 5 9 of 1 %

Total
$19,313 69
.2 8 5 6 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

2 ,137
1,951
18,370
$349 91

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,000 each
254
Am ount of same
.
. $497,361 3 4
N o. of loans on real estate .
499
Average amount of same
.
$4,633 69
Am ount loaned on real estate
during year
.
.
. $90,4 8 5 00
N o. of new real estate loans
made during year .
.
21
D ate

of

E x a m i n a t i o n , April 28, 29

ESSEX SAVINGS BANK, LAW REN CE
President, W

E. P arker
Treasurer, A l b e r t I. C o u c h
Clerk of the Corporation, A l b e r t I . C o u c h

alter

Board of Investment:

W

alter

Incorporated March 15, 1847.

E . P a r k e r , J o s e p h Sh a t t u c k , H
J u s t in E . V a r n e y

enry

Open for business every business day,
also Saturdays, 2 t o 4 p .m .

9

K. W
a .m .

to

ebster,

1

p .m .;

Deposits commence to draw interest the third W ednesd ay of January, April, July and
October. Dividends are payable the third W ednesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

93

BANK COMMISSIONER

No. 8]

Essex Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

$1,216,600 0 0
Public funds
.1,795,000 0 0
Railroad bonds .
. 2 0 0 ,0 0 0 0 0
Street railway bonds
Bank and trust company stocks . 121,700 0 0
Loans to counties, cities or towns .
85,300 0 0
. 1 0 0 ,0 0 0 0 0
“
“ railroad companies .
“
on bank and trust co. stocks
6 ,1 0 0 0 0
.5,964,193 84
“
“ real estate
00
.1,539,225
“
“ personal security .
.
30,000 0 0
Bank building and fixtures .
80
.
148,185
Deposits in banks, on interest
.
23,053 92
Cash on hand

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

$10,210,678 36

.

.
.

$11,229,358 56

$11,229,358 56

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
40
122
200
75
250
100
10
90
109
50
146
300
100

$ 1 ,1 66,600 0 0
1 ,725,000 00
150,000 00
8 5,300 00

.
.
.
legal
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
First National Bank, Boston
Merchants National Bank, Boston
N ational B ank of Commerce, Boston .
National Bank of the R epublic, Boston
N ational Shawmut Bank, Boston
National Union Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
B a y State National Bank, Lawrence .
Lawrence National Bank, Lawrence .

T otal A m ou nt

of

L oans

on

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

Rate

4 per cent.
4i “
“
4| “
“

.
.

4i

“

“

.

4f

“

“

5

“

“

.
.

.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$524,500
8 2,000
55,000
1 ,304,150
392,000
3 ,4 3 3,043

Estimated
Market Value

Par Value

Schedule of Securities Owned

00
00

00
00
00
84

520,000 00
498,680 20

$ 1,162,290 00
1,848,050 0 0
153,500 0 0
85,550 0 0

Book Value

$ 1 ,1 66,600 0 0
1,725,000 00
150,000 00
8 5,300 00

270,000 00

272,025

00

270,0 0 0 00

$3,396,900 00

$ 3 ,5 21,415

00

$ 3 ,3 96,900 00

$4,000 00

$ 4,000 00

1 2 ,2 0 0

00

1 2 ,2 0 0

00

00

$5,600
3 8,308
43,400

00

2 0 ,0 0 0

00

2 0 ,0 0 0

00

7,500 00

1 2 ,0 0 0

00
00

00

1 0 ,0 0 0

00

1 ,0 0 0

00

9 ,0 0 0
10,900
1,750
14,600
2 2,500

00
00
00
00
00

1 0 ,0 0 0

00

12,500
29,000
1,600
19,350
15,805
50
21,170
2 4,975
11,500

$123,450 00

$235,258

-

b e a r in g

00

00

$75,000 00
5 0,000 00

00

1 ,0 0 0

00

9 ,0 0 0 00
10,900 00
—
14,600 00
22,5 0 0 00

00
00
00
00

1 0 ,0 0 0

00

Other Loans

$65,300 00
2 0 ,0 0 0

00

106,100

00

2 93,000 00
00

396,7 7 5 00

1 0 ,0 0 0

00
00

00

$121,700 00

E a c h S p e c if ie d R a t e

Loans on Personal
Security

8 ,0 0 0

7 ,500 00
-

of

Interest

Total Loans

$664,800
152.000
55,000
1,597 ,1 5 0
400.0 0 0
3 ,9 3 5 ,9 1 8

00
00
00
00
00
84

94

R E PO R T OF THE

[Pub. Doc.

Essex Savings Bank — Concluded
To t a l A m o u n t

of

L oans

.

5*

6

"
“

“
“

•

6*

"

“

■

T otals

O c t . 31, 1908, b e a r i n g E a c h S p e c if ie d R a t e
— Concluded

Loans on Real
Estate

R ate

5J per cent.
5f “
“

on

.

.

Average rate

Other Loans

I nterest

Total Loans

$400 00
173,100 00

$1 5 0 ,0 0 0 00
100,000 00
2 48,750 00
172,700 00
45 ,0 0 0 00

$ 5 ,9 64,193 84

$1,5 3 9 ,2 2 5 00

$191,400 00

$7,6 9 4 ,8 1 8 8 4

4 .7 9 per cent.

5 .1 1 per cent.

4 .5 8 per cent.

4 .8 5 per cent.

.
.

T otal E x pen ses
A m ount paid for
% of total assets

Loans on Personal
Security

of

Salaries
$15,9 5 4 39
.1 4 2 9 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$262 73
.0 0 2 3 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
$ 1 ,8 2 5 ,1 1 6 15
N um ber of same
31,823
A m ount of withdrawals
$2,4 5 2 ,8 6 2 93
N um ber of same
27,587
N et decrease in deposits
. $192,662 19
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$194,740 23
O ct., 1908, 2 \ %
. 2 4 0 ,3 4 4 36 $ 4 3 5,084 59
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $57,327 90
W inth rop National Bank, Boston
30 ,8 5 7 90
B a y State N ’l Bank, Lawrence .
10,000 00
Merchants N ’l Bank, Lawrence .
5 0,000 00
M is c e l l a n e o u s
N um ber of corporators, 3 0 ; trustees, 13
Gross income rec’d during year . $ 5 4 8,084 82
State ta x (net) paid “
“
.
2 3 ,578 36

$ 1 5 0,000 00
100,000 00
249,1 5 0 00
3 45,800 00
4 5,000 00

-

of

Sta t e T a x e s

Advertising

Other Expenses
$3,520 02
.0 3 1 3 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

Total
$19,737 14
.1 7 6 5 of 1 %

F ix t u r e s
. $30,000 00
.
50,000 00
.
4 7,000 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

3,932
4,554
26,747
$381 75

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
771
Am ount of same
.
$ 1 ,1 40,693 84
N o. of loans on real estate .
1,174
Average amount of same
.
$ 5,080 23
A m ount loaned on real estate
during year
.
.
. $ 3 8 9,750 00
N o. of new real estate loans
m ade during year .
.
150
D ate

of

E x a m i n a t i o n , January 29

EVERETT SAVINGS BANK, EVERETT
President, J a m e s P. S t e w a r t
Clerk of the Corporation, H

Treasurer, S a m u e l P. C a n n e l l
K . Y e a z ie

enry

Board of Investment: W o o d b u r y A . H a m , G e o r g e W . P l a i s t e d , S a m u e l P . C a n n e l l ,
Jo sep h W . P h il b r ic k , F r a n k B . W oods
Incorporated March 1, 1889.

Open for business every business d ay, 9 to 11
also Saturdays, 7,30 to 8.3 0 p .m .

a .m .,

2 to 4

p .m . ;

Deposits commence to draw interest the second W ednesd ay of January, April, July and
October. Dividends are payable the next day following the second W ed nesd ay in
April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

95

BANK COMMISSIONER

No. 8]

Everett Savings B a n k — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L ia b il it ie s

ssets

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

$55,937 50
Public funds
.
.
.
.
63,550 00
Railroad bonds .
.
.
.
32,940 00
Street railway bonds
37,413 00
Loans to counties, cities or towns .
476,450 00
“
on real estate
17,000 00
“
“ personal security
21,000 00
Bank building and fixtures .
11,504 34
Deposits in banks, on interest
1,409 64
“
“
“
not on interest .
3,946 15
Cash on hand
.
.
.
.
13 00
Checks and cash items

.

.

.

.
.

Interest, rents, etc.
Less current
Taxes
.
.

$698,088 86

.
.

.
.

.

$296 67

.

243 66

Estimated
Market Value

Par Value

Schedule op Securities Owned

$56,000
65.000
33.000
37,413

.
.
.

$ 56,305
6 1 ,975
33 ,5 8 5
37,569

00
00
00
00

of

L oans

on

O c t . 3 1 ,1 9 0 8 ,

3 f per cent.
n

4
44
5
54
6'
64

“
“
“
“
“
“
“

T otals

“
“
“
“
“
“
“

.

.
.
.
.
.

.

•

$45,000
6,500
340,100
21,300
63,550

00
00
00
00
00

Average rate

ate of

I nterest

Other Loans

Total Loans

$2,000
5,913
19,500
10,000

$2,000
5,913
64.500
16.500
3 40,100
2 1,300
63,550
17,000

00
00
00
00

00
00
00
00
00
00
00
00

$476,450 00

$ 17,000 00

$37,413 00

$530,863 00

5 .0 5 per cent.

6 .5 0 per cent.

4 .1 0 per cent.

5 .0 3 per cent.

T otal E xpenses
Salaries
A m ount paid for
$ 2,736 30
% of total assets .3 7 9 4 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$300 00
.0 4 1 6 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
. $3 2 3 ,2 4 4 14
A m ount of deposits .
7,428
N um ber of same
. $295,385 23
Am ount of withdrawals
5,395
Num ber of same
. $51,778 81
Net increase in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

50
00
00
00

$189,840 50

$17,000 00

•

.

$55,937
63,550
3 2 ,940
3 7 ,413

00
00
00
22

E a c h S p e c if ie d R

Loans on Personal
Security

Loans on Real
Estate

R ate

b e a r in g

Book Value

$ 1 8 9,434 22

$191,413 00

T otal A m ount

53 01
$721,163 63

$721,163 63

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns

16,200 00
6,821 76

of

St a t e T a x e s

Advertising
$20 00
.0 0 2 7 of 1 %

Other Expenses
$454 04
.0 6 2 9 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$3,510 34
.4 8 6 6 of 1 %

F ix t u r e s
$21,000
21,000
12,800
233

00
00
00
06

96

REPO RT OF THE

[Pub. Doc,

Everett Savings Bank— Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 11,728 91
O ct., 1908, 2 %
. 12,190 99 $23,919 90
C a s h o n D e p o s it i n B a n k s
W inth rop National Bank, Boston
National Security Bank, Boston .
City Trust Company, Boston
.
First National Bank, Chelsea
.
First National Bank, Malden
.

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
Total num ber O ct. 31, 1908 .
Average balance “
“
.

898
580
4,561
$153 06

$ 4 ,0 0 4
2 ,000
3 ,5 0 0
1,409
2 ,0 0 0

34
00
S t a t is t ic s o f L o a n s
00 N o. not exceeding $ 3,000 each
176
6 4 * A m ount of same
.
. $291,000 00
00 N o. of loans on real estate .
193
Average am ount of same
.
$2,468 65
M is c e l l a n e o u s
Am ount loaned on real estate
N um ber of corporators, 4 0 ; trustees, 20
during year
.
.
. $84,150 00
Gross income rec’d during year . $31,326 53 N o. of new real estate loans
State ta x (net) paid “
“
.
943 07
made during year .
.
33
D ate

of

E x a m i n a t i o n , March 10

* I n liq u id a tio n .

FAIRH AVEN INSTITUTION FOR SAVINGS, FAIRH AVEN
President, T h o m a s A . T r i p p
Treasurer, C h a r l e s H . M o r t o n
Clerk of the Corporation, C h a r l e s H . M o r t o n
Board of Investment: T h o m a s A . T r i p p , J o h n B . H u s s e y , L e v i
G e o r g e B. L u t h e r , W a l t e r H . J u d d
Incorporated Feb. 10, 1832.

Open for business every business day, 9

M.

Sn o w ,

a .m .

to 1

p .m .

Deposits commence to draw interest the last M onday of January, April, July and October
Dividends are payable the last M onday of April and October
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets

P u b lic fu n d s
R a ilr o a d b o n d s .
.
.
.
S treet ra ilw a y b on d s
B a n k a n d trust c o m p a n y sto c k s
L oa n s to cou n ties, cities o r to w n s .
o n b a n k a n d tru st c o . sto c k s
“
“ real estate
“ p erson a l s e cu rity
B a n k b u ild in g a n d fixtu res .
R e a l e sta te b y fo reclos u re , etc.
S to c k s, b on d s, e tc ., tak en t o secu re
in d eb ted n ess
.
.
.
.
D ep os it in b an k , on in terest .
n o t on interest
Cash o n h a n d
.
.
.
.
C hecks a n d cash item s

L ia b il it ie s

$55,001
167,760
19,737
36,960
21,721
435
543,320
74,900
4,500
3,244

20
00
50
00
12
00
97
00
00
99

1,400
22,217
5,000
55
10

00
03
00
67
00

D e p o s its .
S urplus:
G u a r a n ty fu n d
P ro fit a n d loss

$922,166 87
19,895 00
13,085 72

In te re s t, ren ts, e tc.

.

«1 ,1 2 7 03

L e s s cu rren t

E xpenses .

11 14

$956,263 48

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$956,263 48

Par Value

Schedule of Securities Owned

.
.
.

1.115 8 9

$55,000
170,000
20,000
21,800

00
00
00
00

$266,800 00

Estimated
Market Value

Book Value

$56,106
160,270
2 0,625
2 1,933

$55,001
167,760
19,737
21,721

00
00
00
00

$258,9 3 4 00

20
00
50
12

$264,219 82

BANK COMMISSIONER

No. 8]

97

Fairhaven Institution for Savings — Concluded
Schedule

Shs.
50
22
211
90
68
13

of

Securities Owned

Par Value

Bank and Trust Company Stocks
Eliot National Bank, Boston
State National Bank, Boston
N ’l Bank of Fairhaven, Fairhaven
First National Bank of New Bedford .
Mechanics NT Bank, New Bedford
Merchants N ’l Bank, New Bedford

$5,000
2,200
16,880
9 ,000
6,800
1,300

00
00
00
00
00
00

$41,180 00

T otal A m ou nt

of

L oans

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

Rate

3 f per cent.
4
“
“
4.30 “
“
41 “
“
H
“
“
4f “
“

.
.
.
.

5
5i

“

“

.

“

“

.

5f
6

“
“

“
“

.
.

H

“

“

.

Totals

on

.
.
.

—

—

-

-

-

$280,434 75
145,932 80

.

Average rate

-

116,453 42
500 00

00
00
00
00
00
00

$769
2,000
9 ,000
5,000
19,952
2 5,000
298,8 3 4
147,332
5,000
126,988
500

—
—

435 00
$22,1 5 6 12

$640,377 09
5 .2 7 per cent.

for

Y

e a r , e x c l u s iv e

Rent
Y ear
$170,713 43
1,177
$146,297 46
1,074
$58,511 44

d u r in g

d u r in g

. $ 16,765 71
. 17,329 76

Y

ear

$34,0 9 5 47

E x a m i n a t i o n , M a y 18, 19

of

St a t e T a x e s

Advertising
$31 55
.0 0 3 4 of 1 %

Other Expenses
$524 60
.0 5 4 8 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income
.
e p o s it

A

and

.
.
.
.

00
00
00
25

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

Total
$2,997 15
.3 1 3 4 of 1 %

F ix t u r e s
.
$4,500
.
6,000
.
3,800
.
22

of

L

235
142
1,656
$556 85

oans

N o. not exceeding $ 3,000 each
289
A m ount of same
.
. $308,561 22
N o. of loans on real estate .
338
Average am ount of same
.
$ 1,607 40
Am ount loaned on real estate
during year
.
.
. $119,362 59
N o. of new real estate loans
made during year .
.
53

* T h is a m o u n t, in ex c e ss o f th e le ga l lim it, has s in ce b e e n r e d u c e d .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

12
00
00
00
00
00
75
80
00
42
00

4 .3 5 per cent.

M is c e l l a n e o u s
N um ber of corporators, 3 6 ; trustees, 18
Gross income rec’d during year . $44,413 69
State ta x (net) paid “
“
.
1,587 16
of

12
00
00
00
00

5 .0 0 per cent.

C a s h o n D e p o s it i n B a n k
N ’l Bank of Fairhaven, Fairhaven $27,217 0 3 *

D ate

I nterest

Total Loans

—

-

D
declared

of

5 .3 5 per cent.

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits
iv id e n d s

$36,960 00

Other Loans

$769
2,000
9 ,0 0 0
5,000
4,952

00
00
00
00
00
00

$74,900 00

Salaries
Am ount paid for
$2,441 00
% of total assets .2 5 5 2 of 1 %

D

$5,000
2 ,200
12,660
9 ,0 0 0
6,800
1,300

00
00
00
00
00
00

$543,320 97

T otal E xpen ses

April, 1908, 2 %
O ct., 1908, 2 %

$ 9,750
3 ,190
14,770
11,610
10,404
2 ,5 7 4

E a c h S p e c if ie d R a t e

-

$ 15,000
2 5,000
18,400
1,400
5,000
10,100

-

Book Value

$ 52,298 00

Loans on Personal
Security

-

.
.

b e a r in g

Estimated
Market Value

REPO RT OF THE

98

[Pub. Doc.

PALL RIVER SAVINGS BANK, PALL RIVER
President, R

H enry
Treasurer, C. A . B a s s e t t
Clerk of the Corporation, N e w t o n R . E a r l

obert

Board of Investment:

H e n r y C. H a w k i n s , R o b e r t H e n r y , C h a r l e s M . A l l e n ,
D a v id J. B u r d i c k , L . E l m e r W o od

Incorporated March 11, 1828.

Open for business every business day, 9

a .m .

to 2

p .m .

Deposits commence to draw interest the first M onday of January, April, July and October
Dividends are payable the first M onday of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
$625,000
Railroad bonds .
.
.
.2,831,000
Boston terminal company bonds . 250,000
Bank and trust company stocks . 360,400
Loans to counties, cities or towns . 225,000
“
“ railroad companies
. 125,000
on bank and trust co. stocks
4,000
“
“ real estate $3,170,607 00
Less, due on mtge. loans 11,000 00 3,159,607
Loans on personal security .
.1,291,400
Bank building and fixtures .
.
30,000
Deposits in banks, on interest
.
32,018
Cash on hand
.
.
.
.
2,830

00
00
00
00
00
00
00
00
00
00
34
73

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$8,336,373 53
.

Interest, rents, etc.
$103,127 23
Less current
Expenses . $1,819 50
Taxes
.
768 00
2,587 50

$8,936,256 07

Schedule of Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Boston Terminal Com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
150
5
4 00
3
150
232
100
715
50
650
929
220

Bank and Trust Company Stocks
Eliot National Bank, Boston
First National Bank, Boston
Faneuil H all National Bank, Boston .
National Bank of Commerce, Boston .
National Shawmut Bank, Boston
Second National Bank, Boston
State National Bank, Boston
Fall R iver N ational Bank, Fall R iver .
First National Bank, Fall River
Massasoit-Pocasset N ’l B ’k, Fall R iver
M etacom et N ’l Bank, Fall R iver
Merchants N ’l Bank, New Bedford


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

427,000 00
72,342 81

100,539 73

$8,936,256 07

Par Value

$625,000
2 ,8 3 1,000
250,000
225,000
50,000

00
00
00
00
00

Estimated
Market Value
$641,375
3 ,0 3 7 ,4 0 5
245,000
226,000
50,000

00
00
00
00
00

Book Value

$625,000
2,8 3 1 ,0 0 0
250,000
225,000
50,000

00
00
00
00
00

75,000 00

75,000 00

75,000 00

$4,056,000 00

$4,274,780 00

$ 4 ,0 56,000 00

$29,250
1,570
55,200
480
43,500
49,880
14,500
9 2,950
9 ,500
104,000
120,770
43,560

$15,000
500
40,000
300
15,000
2 3,200
10,000
71,500
5,000
65,000
92,900
22,000

$15,000
500
4 0,000
300
15,000
23,200
10,000
71,500
5,000
65,000
9 2 ,900
2 2 ,000

00
00
00
00
00
00
00
00
00
00
00
00

$360,400 00

00
00
00
00
00
00
00
00
00
00
00
00

$565,160 00

00
00
00
00
00
00
00
00
00
00
00
00

$360,400 00

BANK COMMISSIONER

No. 8]

Fall River Savings Bank —
T otal A m ou nt

of

L oans

on

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

4f
5
H

6
64
6f

“
“
“

“
“
“

“
“
“
“

“
“
“
“

T otals

$407,800 00

.

.
.

.
.

•

.
.
.

.
.
.

.

Average rate

1 ,507,695 00
1 ,243,887 00
225 00

$175,000
830.000
25.000
35,400

$175,000
1,237,800
2 5.000
1,697 ,0 9 5
1 ,393,887
201,2 2 5
2 5.000
5 0.000

$154,000 00
150,000 00
50,000 00

151.000 00
25 .0 0 0 00
50.000 00

I nterest

Total Loans

Other Loans

00
00
00
00

of

00
00
00
00
00
00
00
00

$ 1 ,2 91,400 00

$ 3 5 4,000 00

$4,8 0 5 ,0 0 7 00

5 .1 3 per cent.

4 .7 9 per cent.

5 .3 5 per cent.

5 .0 6 per cent.

Salaries
A m ount paid for
$22,460 00
% of total assets .2 5 1 3 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$670 18
.0 0 7 5 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
$1,130,501 65
N um ber of same
.
.
.
15,652
Am ount of withdrawals
.
$ 1 ,5 8 5 ,0 3 4 78
N um ber of same
.
.
.
17,927
N et decrease in deposits
.
. $130,399 38
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$162,902 87
O ct., 1 9 0 8 ,2 %
. 161,230 88 $324,133 75
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
$6,335 72
Fall R iver N ’l Bank, Fall R iver .
2,600 00
Massasoit-Pocasset N a t’l B ’k, Fall
R i v e r .................................................23,0S2 62
M is c e l l a n e o u s
N um ber of corporators, 81 ; trustees, 19
Gross income rec’d during year . $463,627 85
State ta x (net) paid “
“
.
22,969 66
of

E a c h S p e c if ie d R a t e

$3,1 5 9 ,6 0 7 00

T otal E xpen ses

D ate

C onclud ed

Loans on Personal
Security

4J per cent.
H

b e a r in g

99

of

St a t e T a x e s
Total
$24,2 5 2 99
2713 of 1 %

Advertising Other Expenses
—
$1,792 99
.0 2 0 0 of 1 %
B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

F ix t u r e s
. $30,0 0 0 00
.
30 ,0 0 0 00
.
40 ,0 0 0 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

2 ,152
2,501
1 7,355
$480 34

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
573
A m ount of same
.
. $897,569 00
N o. of loans on real estate .
9 17
Average amount of same
.
$3,4 4 5 59
A m ount loaned on real estate
during year
.
.
. $ 2 2 8,310 00
N o. of new real estate loans
made during year .
.
45

E x a m i n a t i o n , September 3 , 4

FALL RIVER FIVE CENTS SAVINGS BANK, FALL RIVER
President, J a m e s M a r s h a l l
Treasurer, C h a r l e s L . H
Clerk of the Corporation, L e o n a r d N . S l a d e

olm es

Board of Investment: A b n e r P. D a v o l , H o l d e r B . D u r f e e , O l i v e r S. H
E d w a r d B . J e n n i n g s , C h a r l e s S. W a r i n g
Incorporated April 10, 1855.

Open for business every business d ay, 9

a .m .

aw es,

to 2

p .m .

Deposits commence to draw interest the first M onday of March, June, Septem ber and
December. Dividends are payable the second M onday of June and Decem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

100

R E PO R T OF THE

[Pub. Doc.

Pall River Five Cents Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
. $191,000
Railroad bonds .
.
.
. 2,476,700
Telephone company bonds .
45,250
Bank and trust company stocks
224,300
Loans to railroad companies
50,000
on real estate
1,963,228
“ personal security
756,658
Bank building and fixtures .
45,000
Real estate by foreclosure, etc.
49,614
St9 cks, bonds, etc., taken to secure
indebtedness .
.
.
.
2,830
Deposits in banks, on interest
53,498
Cash on hand
.
.
.
.
14,067

00
00
00
00
00
43
35
00
45

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.$5,422,838 84

.

.

Interest, rents, etc.

152,240 71

00
92
53

$5,872,147 68

Schedule of Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.

Shs.
383
100
465
31 5
443
35
340
57
150
300
40
107
150
36
50
13
100

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Faneuil H all National Bank, Boston .
Mechanics National Bank, Boston
Mechanics Trust Co., Boston
Metropolitan National Bank, Boston .
National Bank of Commerce, Boston
National Bank of the R epublic, Boston
New England N ational Bank, Boston .
State National Bank, Boston
W ebster & A tlas N ’ l Bank, Boston
Dedham National Bank, Dedham
Massasoit-Pocasset N ’l B ’k, Fall River
M etacom et National Bank, Fall R iver
National Union Bank, Fall River
Leominster N ’l Bank, Leominster
Palmer National Bank, Palmer
Taunton National Bank, Taunton

$5,872,147 68

Par Value

Estimated
Market Value

Book Value

$ 1 9 1 ,0 0 0 0 0
2 ,4 6 0 ,7 0 0 0 0
5 0 ,0 0 0 0 0

$ 1 9 5 ,1 0 5 0 0
2 ,7 0 1 ,2 8 5 0 0
4 5 ,2 5 0 0 0

$ 1 9 1 ,0 0 0 0 0
2 ,4 6 0 ,7 0 0 0 0
4 5 ,2 5 0 0 0

6 6 ,0 0 0 0 0

6 6 ,3 4 0 0 0

6 6 ,0 0 0 0 0

$ 2 ,7 6 7 ,7 0 0 0 0

$ 3 ,0 0 7 ,9 8 0 0 0

$ 2 ,7 6 2 ,9 5 0 0 0

$ 3 8 ,3 0 0 0 0
1 0 ,0 0 0 0 0
3 1 ,5 0 0 0 0
4 4 ,3 0 0 0 0
3 ,5 0 0 0 0
5 ,7 0 0
1 5 ,0 0 0
3 0 ,0 0 0
4 ,0 0 0
1 0 ,7 0 0
1 5 ,0 0 0

00
00
00
00
00
00

5 ,0 0 0 0 0
1 ,3 0 0 0 0
1 0 ,0 0 0 0 0
$ 2 2 4 ,3 0 0 0 0

T otal A m ou nt

of

L oans

4 J p e r ce n t.

“

“

5
5

“

“

6

i

$ 2 0 2 ,3 6 8 4 2

“

“

“

“

.
.
.
.

“

“

.

T o ta ls

O c t . 31, 1908,

Loans on Real
Estate

R ate

4f

on

.

A v e r a g e ra te


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.
.

8 7 8 ,0 6 5 0 0
7 6 5 ,7 9 7 0 0
1 1 6 ,9 9 8 01

275,000 00
22,068 13

b e a r in g

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$ 3 8 ,3 0 0 0 0
1 0 ,0 0 0 0 0

$ 3 1 1 ,4 5 2 0 0

$ 2 2 4 ,3 0 0 0 0

E a c h Sp e c if ie d R

Loans on Personal
Security
$ 3 6 7 ,5 0 0
2 6 ,0 0 0
2 0 ,2 0 0
2 5 ,1 5 8
2 1 7 ,8 0 0
1 0 0 ,0 0 0

$ 5 3 ,6 2 0
1 3 ,8 0 0
4 ,6 5 0
3 1 ,5 0 0
5 3 ,1 6 0
5 ,6 0 0
1 7 ,0 0 0
7 ,9 8 0
2 1 ,7 5 0
4 3 ,5 0 0
4 ,2 0 0
1 7 ,1 2 0
1 9 ,5 0 0
72
6 ,5 0 0
1 ,3 0 0
1 0 ,2 0 0

00
00
00
35
00
00

Other Loans

$ 5 0 ,0 0 0 0 0

3 1 ,5 0 0 0 0
4 4 ,3 0 0 0 0
3 ,5 0 0 0 0
00
00
00
00
00
00

5 ,7 0 0
1 5 ,0 0 0
3 0 ,0 0 0
4 ,0 0 0
1 0 ,7 0 0
1 5 ,0 0 0

5 ,0 0 0 0 0
1 ,3 0 0 0 0
1 0 ,0 0 0 0 0

ate of

Interest

Total Loans

$ 5 6 9 ,8 6 8
2 6 ,0 0 0
9 4 8 ,2 6 5
2 5 ,1 5 8
9 8 3 ,5 9 7
2 1 6 ,9 9 8

42
00
00
35
00
01

$ 1 ,9 6 3 ,2 2 8 4 3

$ 7 5 6 ,6 5 8 3 5

$ 5 0 ,0 0 0 0 0

$ 2 ,7 6 9 ,8 8 6 7 8

5 .2 0 p e r ce n t.

5 .0 3 p e r ce n t.

5 .0 0 p e r ce n t.

5 .1 5 p e r ce n t.

No. 8]

BANK COMMISSIONER

101

Fall River Five Cents Savings Bank — Concluded
T otal E xpen ses
Salaries
A m ount paid for
$12,100 98
% of total assets .2 0 6 0 of 1 %
D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

fob

Y

e a r , e x c l u s iv e

Rent
$1,549 61
.0 2 6 3 of 1 %
d u r in g Y e a r
. $901,796 91
.
2 6 ,843
$1,161,419 43
.
21,169
. $ 51,466 08

D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, 2 %
$103,819 2 4
June, 1908, 2 %
. 104,337 20 $208,156 44
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
National Shawmut Bank, Boston .
Metacomet N ’l B ’k, Fall R iver .

$21,919 91
2 ,398 39
29,180 62

M is c e l l a n e o u s
N um ber of corporators, 3 2 ; trustees, 24
Gross income rec’d during year . $294,333 66
State ta x (net) paid “
“
.
15,115 90
D ate

of

of

State T a x e s

Advertising Other Expenses
—
$1,591 63
.0271 of 1 %
B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

Total
$15,242 22
.2 5 9 4 of 1 %

F ix t u r e s
. $ 45,000 00
.
77,000 00
.
7 7,000 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

2,581
2,686
2 1,136
$269 32

S t a t is t ic s o f L o a n s
No. not exceeding $ 3,000 each
456
Am ount of same
.
. $633,817 00
N o. of loans on real estate .
646
Average amount of same
.
$3,039 05
Am ount loaned on real estate
during year
.
.
. $102,250 00
No. of new real estate loans
m ade during year .
.
34

E x a m i n a t i o n , October 20, 21, 22

FARMERS’ AND MECHANICS’ SAVINGS BANK, SOUTH
FRAMINGHAM
President, W

H ow e
Clerk of the Corporation, H

il l a r d

Board of Investment:

Treasurer, J u l i a n W . P h i l l ip s
C. K i n g m a n

a r r is o n

G e o r g e E . Cu t l e r , Sid n e y A . P h il l ip s , Jo e l T . W
F r a n k G . S t e a r n s , J u l ia n W . P h il l i p s

h it n e y ,

Incorporated April 23, 1883.
Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the third Tuesday of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

A ssets
$112,012 50
R a ilr o a d b on d s .
.
.
.
13,393 75
T e le p h o n e c o m p a n y b on d s
18,508 45
B a n k an d trust c o m p a n y sto c k s
43,000 00
L oa n s t o cou n ties, cities o r to w n s .
100 00
“
o n ra ilroa d b on d s
100 00
“
“ b a n k an d tru st co . sto c k s
850 00
“
“ d e p o s ito r s ’ b o o k s
435,937 01
“
“ real estate
274,906 77
“
“ p erson a l s e cu rity
10,385 49
R eal esta te b y foreclos u re, e tc.
3,052 15
“
“
in possession
S tock s, b o n d s, e tc ., tak en t o secure
8,620 00
in d eb ted n ess
.
.
.
.
1,040 00
F u rn itu re a n d fixtures
17,351 42
D e p o s it in b an k , o n in terest .
1,485 63
Cash o n h a n d
.
.
.
.
57 36
C hecks a n d cash item s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$940,800 53

D e p o s its .
S urplus:
G u a r a n ty fu n d
P ro fit a n d loss

In te re s t, rents, e tc.

$865,933 49
3 6,050 00
36,229 24

.

$2,854 58

L ess cu rren t

E xpenses .

266 78

2,587 80

$940,800 53

102

R E PO R T OF THE

[Pub. Doc

Farmers’ and Mechanics’ Savings Bank — Concluded
Estimated
Market Value

Book Value

$95,000 00
15,000 00
4 3,000 00

$91,387 50
13,556 25
4 3,000 00

$94,618 75
13,393 75
43,000 00

2 0,000 00

19,250 00

17,393 75

$173,000 00

$167,193 75

$168,406 25

Par Value

Schedule op Securities Owned

Railroad bonds
.
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
16
9
9
100
10

Bank and Trust Company Stocks
Eliot National Bank, Boston
Second National Bank, Boston
Northborough N ’l B ’k, Northborough
Fram ingham N ’l B ’k, So. Fram ingham
First N ’l B ’k of W . New ton, W . New ton

$1,600
900
900
10,000
1,000

00
00
00
00
00

$3,120
1,935
1,035
13,000
1,300

00
00
00
00
00

$2 ,0 8 4
1,358
900
13,166
1,000

$20,390 00

$14,400 00

00
25
00
20
00

$18,5 0 8 45

•

T otal A m ount

of

L oans

4i
4f

5
51
H

5f

per cent.
“
;;
“
“
“
«

“
;;
“
“
u
»

$16,000 00
16,000 00

.

.

352,132 01

.

.

$20,000
79,200
2 5.000
65.000
4 5.000
40 ,7 0 6

1,200 00

6

T otals

.

.
•

.

.

.

.

.

Average rate

5 0,605 00

of

Other Loans

00
00
00
00
00
77

Interest

Total Loans

$16,000
16,000
3 5 .000
4 49,332
2 5.000
66,200
4 5 .000
102,361

$15,000 00
18,000 00

11,050 00

00
00
00
01
00
00
00
77

$435,937 01

$ 2 7 4,906 77

$44,0 5 0 00

$754,893 78

5 .0 6 per cent.

5 .3 9 per cent.

5 .1 7 per cent.

5 .1 9 per cent.

T otal E xpen ses
Salaries
Am ount paid for
$ 2,455 9 4
% of total assets .2 6 1 0 of 1 %

for

Y

ea r , e x c l u s iv e

Rent
$358 20
.0 3 8 0 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits
.
.
. $203,199 22
N um ber of same
.
.
.
4,519
A m ount of withdrawals
.
. $189,961 86
N um ber of same
.
.
.
3,519
N et increase in deposits
.
. $44,427 15
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 15,348 52
O ct., 1908, 2 %
. 15,841 27
$31,189 79
C a s h o n D e p o s it i n B a n k
Fram ingham National Bank, So.
Fram ingham
.
.
. $17,351 42
M is c e l l a n e o u s
N um ber of corporators, 29 ; trustees, 10
Gross income rec’d during year . $ 45,910 38
State ta x (net) paid “
“
.
1,740 94


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

E a c h S p e c if ie d R a t e

b e a r in g

Loans on Personal
Security

Loans on Real
Estate

R ate

4

O c t . 31, 1908,

on

of

St a t e T a x e s

Advertising
$76 00
.0 0 8 0 of 1 %

Other Expenses
$383 60
.0 4 0 7 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
Total number O ct. 31, 1908 .
Average balance “
“

Total
$3,273 74
3477 of 1 %

741
608
4 ,176
$207 36

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
186
A m ount of same
$201,287 01
N o. of loans on real estate .
202
Average am ount of same
$ 2,158 10
Am ount loaned on real estate
during year
$39,175 00
N o. of new real estate loans
m ade during year .
22
D ate

of

E x a m i n a t i o n , September 4

103

BANK COMMISSIONER

No. 8]

FITCHBURG SAVINGS BANK, FITCHBURG
President, C h a r l e s E . W a r e
Treasurer, F r e d e r i c C. N ic h o l s
Clerk of the Corporation, E b e n e z e r B a i l e y
Board of Investment: H e n r y G . M o r s e , J. L o v e l l J o h n s o n , C a r m i M . P a r k e r ,
G e o r g e R . W a l l a c e , C h a r l e s E . W a r e , F r a n k H . F o ss
Incorporated Feb. 12, 1846. Open for business every business clay, except Saturdays,
8 .4 5 a .m . to 3 p .m . ; Saturdays, 8.4 5 a .m . to 12 m . ; also Tuesdays, 6 to 8.3 0 p .m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first d ay of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
L

P u b lic fu n d s
.
.
.
.
$430,000
R a ilro a d b o n d s .
.
.
.
505,000
S tr eet ra ilw a y b on d s
.
.
.
75,000
B o s t o n T erm in a l C o m p a n y b o n d s .
50,000
B a n k a n d tru st c o m p a n y s to c k s
. 128,400
L oa n s t o ra ilroa d com p a n ie s
.
3 0,000
“
o n p u b lic fu n d s .
.
.
25,000
“
“ real esta te
.
.
.2 ,4 5 8 ,4 2 0
“
“ p erson a l s e cu rity
.
.1 ,2 3 7 ,6 50
B a n k b u ild in g a n d fixtu res .
.
75,000
S to c k s, b o n d s, e tc ., tak en t o secu re
in d eb ted n ess
.
.
.
•
10
D ep os its in ban k s, o n in te re st
. 182,831
“
“
“
n o t on in terest .
5,000
Cash on h a n d
.
.
.
.
5,381

00
00
00
00
00
00
00
00
00
00

D e p o s its .
.
S urplus:
G u a r a n ty fu n d
P r o fit a n d loss

ia b il it ie s

.

.$ 4 ,8 4 6 ,3 9 0 15

.

.

8 7,7 25 46

In te re s t, ren ts, e tc.

00
26

00

88
$ 5,2 07 ,6 9 3 14

$ 5,207,693 14

Shs.
60
225
2 00
40
170
257
100
5
67
10

.
.
.
legal
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Merchants National Bank, Boston
National Shawmut Bank, Boston
State National Bank, Boston
Safety Fund N ’l Bank, Fitchburg
Fitchburg N ational Bank, Fitchburg .
Fitchburg S. D . & T r. Co., Fitchburg .
Townsend National Bank, Townsend .
Crocker N ’l Bank, Turners Falls
W orcester Trust Go., W orcester


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value

Schedule op Secubities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Bonds and notes which are not now
investments
.
.
.
.

240 ,00 0 00
33,5 77 53

$ 3 9 4,038
505,000
73,000
5 0,000

66
00
00
00

$399,859
493,7 4 0
73 ,4 3 5
49,000

95
00
00
00

Book Value

$392,000
505,0 0 0
7 3,000
5 0,000

00
00
00
00

7 0,000 00

7 1,890 00

70 ,0 0 0 00

$1,0 9 2 ,0 3 8 66

$ 1 ,0 8 7 ,9 2 4 95

$1,0 9 0 ,0 0 0 00

$6,000
2 2,500
2 0,000
4,000
17,000
2 5,700
10,000
500
6,700
1,000

$8,400
48,8 2 5
58,000
5,800
17,000
3 8,550
15,000
500
9 ,3 8 0
2 ,600

$6,000
22 ,5 0 0
30 ,0 0 0
4 ,000
17,000
25 ,7 0 0
1 5,000
500
6,700
1,000

00
00
00
00
00
00
00
00
00
00

$113,4 0 0 00

00
00
00
00
00
00
00
00
00
00

$2 0 4 ,0 5 5 00

00
00
00
00
00
00
00
00
00
00

$ 1 2 8,400 00

104

R E PO R T OF THE

[Pub. Doc.

Fitchburg Savings Bank — Concluded
T otal A m ount

of

L oans

Loans on Real
Estate

Rate

4 per cent.
4i “
“
4* “
“
4f “
“
5

“

“

5i

»

»

5i

“

“

5f
6

“

“

“

“

“

“

T otals

O c t . 31, 1908,

on

.
.
.
.
.
.
.
.

.

Average rate

.
.
.
.
.
.
.

$ 3 1 1,300
141,830
449,9 0 0
23 ,0 0 0
1,498 ,2 6 5

b e a r in g

E a c h S p e c if ie d R a t e

Loans on Personal
Security

00
00
00
00
00

$75,000
9 5.000
2 0.000
438,700
10,000
520,600
25 ,0 0 0
2 7,850
25 ,5 0 0

3 2 ,6 2 5 00
1,500 00

Other Loans

00
00
00
00
00
00
00
00
00

of

I nterest

Total Loans

$311,300
2 16,830
544.900
4 3.000
1 ,991,965
10.000
553,2 2 5
2 5,000
29 ,3 5 0
2 5 ,500

$55,000 00

00
00
00
00
00
00
00
00
00
00

$ 2 ,4 5 8 ,4 2 0 00

$ 1 ,2 37,650 00

$55,0 0 0 00

$3,7 5 1 ,0 7 0 00

4 .7 4 per cent.

5 .1 5 per cent.

5 .0 0 per cent.

4 .8 8 per cent.

T otal E xpen ses
Salaries
Am ount paid for
$6,9 0 5 54
% of total assets . 1326 of 1 %

for

Y

e a r , e x c l u s iv e

Rent

of

St a t e T a x e s

Advertising
$466 27
.0 0 8 9 of 1 %

Other Expenses
$ 3 ,738 37
.0 7 1 7 of 1 %

Total
$11,110 18
2133 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $82 5 ,8 6 4 84
o OQO
N um ber of same
Am ount of withdrawals
$ 8 9 1,010 46
N um ber of same
7,724
N et increase in deposits
$1 1 6 ,9 7 4 24

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income
.

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $90,4 8 5 06
July, 1908, 2 % .
. 9 1 ,6 3 4 80 $182,119 86

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
Merchants National Bank, Boston
N ational Shawmut Bank, Boston
Fitchburg N ’l Bank, Fitchburg .
Fitchburg Safe Deposit and Trust
Co., Fitchburg

$ 20,000 00
80,570 50

20,000 00
5 7,260 76

10,000 00

M is c e l l a n e o u s
N um ber of corporators, 4 7 ; trustees, 26
Gross income rec’d during year . $243,391 71
S tate ta x (net) paid “
“
.
10,746 74

and

.
.
.
.

F ix t u r e s
. $75,000
. 125,000
. 105,000
.
3 ,189

00
00
00
80

1,572
1,284
10,454
$463 59

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,000 each
462
A m ount of same
.
. $672,190 00
N o. of loans on real estate .
603
Average amount of same
.
$ 4,076 98
A m ount loaned on real estate
during year
.
.
. $ 4 2 3 ,2 5 0 00
N o. of new real estate loans
made during year .
.
109
D ate

of

E x a m i n a t i o n , February 7

FLORENCE SAVINGS BANK, FLORENCE
President, L o u is F . P l im p t o n
Treasurer, M. E . G o u l d
Clerk of the Corporation, M. E . G o u l d
Board of Investment:

L o u is F. P l i m p t o n , H . B . H
C. E . G o u l d

Incorporated Feb. 14, 1873.

aven,

A . M. W

are,

Open for business every business day, 10

W

m.

a .m .

H . R ice
to 2

p .m

.

Deposits commence to draw interest the second T uesday of January, April, July and
October. Dividends are payable the second Tuesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

105

Florence Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
L ia b il it ie s

A ssets

PuMic funds
Railroad bonds .
Street railway bonds .
Telephone company bonds .
Bank and trust company stocks
Loans to railroad companies
“
on depositors’ books
“
“ real estate
“
“ personal security
Bank building and fixtures .
Deposits in banks, on interest
Cash on hand

$21,900 00
87,717 50
14,400 00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

18,037
5,000
185
301,465
45,664
4,357
18,382
458

Interest, rents, etc.
Less current
Expenses .

10,000 00

50
00
00
93
20
93
65
23

.

$499,219 67

.

21,540 00
6,742 60

$70 42
3 75

$527,568 94

$527,568 94

.
.

.
.
.

$22,000
70,000
15,000
11,000

.
.
.

.

not now legal
.
.
.

of

L oans

5 per cent.
“

“

T otals

O c t . 31, 1908,

.

Average rate

24 ,1 7 5 00

2 4,300 00

$134,841 15

$139,017 50

00
00
00
50

$10,6 2 5 00
5,200 00
.5,670 00

$18,037 50

$ 21,495 00

$8,500
4,000
5,400
137

b e a r in g

$ 8,500
4,000
5,400
137

_

E a c h S p e c if ie d R

00
00
00
50

$18,037 50

ate of

Interest

Total Loans

Other Loans

$45,5 6 4 20
100 00

$ 5,185 00

$3 5 2 ,0 6 5 13
250 00

$ 3 0 1,465 93

$45,6 6 4 20

$ 5,185 00

$3 5 2 ,3 1 5 13

5 .0 0 per cent.

5 .0 0 per cent.

for

Y

e a r , e x c l u s iv e

Rent

Salaries
A m ount paid for
$812 00
% of total assets .1 5 3 9 of 1 %

_

Y ear
. $85,563 86
1,808
. $113,537 64
1,775
,952 60

d u r in g


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
50
00
00

$ 3 0 1,315 93
150 00

T otal E xpen ses

Am ount of deposits .
Num ber of same
Am ount of withdrawals
Num ber of same
N et decrease in deposits

$21,900
68,417
14,400
10,000

00
00
00
15

2 5 ,000 00

Loans on Personal
Security

Loans on Real
Estate

R ate

6

on

$21,725
64 ,0 7 5
14,925
9,941

00
00
00
00

Book Value

$143,000 00
Shs.
Bank and Trust Company Stocks
85 H om e National Bank, H olyoke .
40 First National Bank, Northam pton
54 Hampshire Co. NT Bank, Northam pton
10 Agaw am National Bank, Springfield .

T otal A m ount

Estimated
Market Value

Par Value

Schedule op Securities Owned

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.

66 67

5 .0 0 per cent.

5 .0 0 per cent.

of

St a t e T a x e s

Advertising
$23 50
.0 0 4 4 of 1 %

Other Expenses
$269 15
.0 5 1 0 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$1 ,1 0 4 65
.2 0 9 3 of 1 %

F ix t u r e s
$4,357
5,000
3,000
36

93
00
00
23

106

R E PO R T OF THE
Florence Savings Bank —

D

iv id e n d s

declared

April, 1908, 2 %
O ct., 1908, 2 %
Cash

on

D

.
.

e p o s it

d u r in g

Y

$9,5 2 6 25
9 ,4 9 4 93
in

B

D

ear

Concluded

e p o s it

A

ccounts

N um ber opened during year
“
“
N um ber closed
T otal number Oct. 31, 1908 .
Average balance “
“
.

$19,021 18

anks

First N ’ l Bank, N ortham pton
.
Hampshire Co. National Bank,
Northam pton
.
.
.
Pynchon N ’l Bank, Springfield
.

[Pub. Doc.

183
229
1,728
$288 89

$12,008 65
S t a t is t ic s

of

L

oans

6,171 57
N o. not exceeding $3,000 each
201
202 4 3 * A m ount of same
.
. $2 8 0 ,2 6 5 13
N o. of loans on real estate .
189
M is c e l l a n e o u s
Average am ount of same
.
$1 ,5 9 5 05
N um ber of corporators, 3 2 ; trustees, 17
A m ount loaned on real estate
Gross income rec’d during year . $24,4 3 6 75
during year
.
.
. $14,100 00
State ta x (net) paid “
“
.
810 81
N o. of new real estate loans
made during year .
.
9
D a t e o f E x a m i n a t i o n , April 9, 10
In liquidation.

POXBOEOUGH SAVINGS BANK, FOXBOROUGH
President, L . E . G r a y
Clerk of the Corporation, W

Treasurer, W
il l ia m

Board of Investment: L . E . G r a y , A . H . M e s s i n g e r , F
A . J. H a r t s h o r n

H . T

il l ia m

H. T

orrey

W

A. Y

orrey

B

o rrest

assett

,

Incorporated April 18, 1855. Open for business every business d ay , 9
also W ednesdays and Saturdays, 6 to 8 p . m .

m.

a .m

.

oung

to 3

p .m

,

.;

Deposits commence to draw interest the first day of March, June, September and Decem ­
ber.
Dividends are payable W ednesday after the second M onday of June and
December

B

alance

Sh

ee t

, O

ctober

31, 1908

A ssets

Railroad bonds .
. $114,620 00
Street railway bonds
5,231 25
Telephone company bonds .
7,872 50
Bank and trust company stocks .
30,277 00
Loans to counties, cities or towns
4,500 00
“ railroad companies
5,000 00
“
on real estate
. 277,725 00
4,998 50
“
“ personal'security
Real estate by foreclosure, etc.
300 00
Deposit in bank, on interest .
5,407 71
Cash on hand
6,027 26

L ia b il it ie s

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

$412,045 58
21,150 00
21,405 79

Interest, rents, etc.
. $8,056 54
Less current
Expenses .
$659 19
Taxes
.
39 50
698 69

$461,959 22

Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value

Schedule of Securities Owned

.
.

legal
.

7,357 85
$461,959 22

$108,000
5.000
9 .0 0 0
4 ,500
5 .000

00
00
00
00
00

$101,780
4 ,9 7 5
8 ,133
4 ,500
5 ,075

00
00
75
00
00

Book Value

$103,620
5,231
7,872
4 ,500
5,000

00
25
50
00
00

11,000 00

10,505 00

11,000 00

$142,500 00

$134,968 75

$137,223 75

BANK COMMISSIONER

No. 8]

107

Foxborough Savings Bank — Concluded
Schedule of Securities Owned

Shs.
Bank and Trust Company Stocks
3 4 B oylston National Bank, Boston
27 Commonwealth Trust Co., Boston
8 Faneuil H all National Bank, Boston
20 Metropolitan National Bank, Boston
11 N ational B ank of Commerce, Boston
60 National Shawmut Bank, Boston
10 M t. Vernon National Bank, Boston
14 Old Boston National- Bank, Boston
13 State National Bank, Boston
12 Tremont National Bank, Boston
8 W ebster & A tlas N ’l Bank, Boston
3 6 D edham National Bank, Dedham
60 Fram ingham N ’l B ’k, S. Framingham
6 N ’l Bank of W rentliam , W rentham

.
.
.

.

Par Value

Estimated
MarketjValue

Book]Value

$3,400
2,700
800
2 ,000
1,100
6,000
845
1,400
1,300
420
800
3,600
6,000
420

$3,400
4 ,1 8 5
1,104
2 ,400
1,760
17,400
220
1,554
1,885
12
1,160
3 ,780
6,000
420

$3,400
2 ,700
800
1,900
1,100
6,000
845
1,400
1,300
12
800
3 ,600
6,000
420

00
00
00
00
00
00
00
00
00
00
00
00
00
00

$45,280 00

$30,785 00

T

otal

A

m ount of

L

oans on

ct.

4 per cent.
5
“
“
5£ “
“
6
“
“

E

otal

W

S p e c if ie d R

ach

Loans on Personal
Security

OtherJLoans

Cash

on

D

e p o s it

.
.

6 .0 0 per cent.

4 .7 6 per cent.

5 .8 4 per cent.

for

Y

e a r

,

e x c l u s iv e

of

State

Other Expenses

$96 00
.0 2 0 7 of 1 %

$12 00
.0 0 2 5 of 1 %

$158 50
.0 3 4 3 of 1 %

d u r in g

Y

D

ear

. $66,898 01
.
1,369
. $91,607 57
.
1,614
.
$8,902 27

d u r in g

Y

ear

$15,807 29

ank

$5,407 71

is c e l l a n e o u s

N um ber of corporators, 2 9 ; trustees, 22
Gross income rec’d during year . $ 24,168 56
State ta x (net) paid “
“
.
588 76


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

a xes

Advertising

.
.
.
.
.

B

T

Rent

W inth rop National Bank, Boston
M

00
00
00
50

5 .8 8 per cent.

$ 7,894 82
7 ,912 47
in

$4,500
3 6,100
2,000
249,623

$292,223 50

it h d r a w a l s

D ec., 1907, 2 %
June, 1908, 2 %

terest

$ 9,500 00

xpen ses

declared

In

Total Loans

$4,500 00
5,000 00

A

e p o s it

Total
$1,841 46
.3 9 8 4 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.
St a t is t ic s

iv id e n d s

of

$ 4 ,998 50

A m ount of deposits .
N um ber of same
.
Am ount of withdrawals
Num ber of same
.
N et decrease in deposits
D

ate

$ 4,998 50

Salaries
Am ount paid for
$ 1,574 96
% of total assets .3 4 0 9 of 1 %
e p o s it s a n d

E

$30,277 00

$277,725 00

.

.

T

b e a r in g

00
00
00
00
00
00
00
00
00
00
00
00
00
00

$31,100 00
2,000 00
244,6 2 5 00

•

.

Average rate

D

31, 1908,

Loans on Real
Estate

R ate

T otals

O

00
00
00
00
00
00
00
00
00
00
00
00
00
00

of

L

164
177
1,636
$251 86

oans

N o. not exceeding $3,000 each
207
A m ount of same
.
. $232,823 50
N o. of loans on real estate .
208
Average amount of same
.
$ 1,335 21
Am ount loaned on real estate
during year
.
.
. $35,3 5 0 00
N o. of new real estate loans
made during year .
.
30
D

ate

of

E

x a m in a t io n

,

September 18

108

REPO RT OF THE

[Pub. Doc,

FRANKLIN SAVINGS BANK OF THE CITY OF BOSTON,
BOSTON
President, J a m e s E . W h i t n e y
Clerk of the Corporation, E
Board of Investment:
H

en ry

Jam

W. H

es

E . W h it n e
, E dmund

a r t

Incorporated March 15, 1861.

y

, J.

Treasurer, J o h n H . S t u r g i s
G. F i s h e r

dgar

A

rth ur

Ja c o b s , J.

H

om er

P

ie r c e

,

D. C o d m a n , I s a a c W . C h ic k

Open for business every business day, 9

a .m

.

to 2

p .m

.

Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the first day of February and August

B

A

alance

Sh

eet

, O

ctober

31, 1908
L

ssets

SI,240,000 00
Public funds
Railroad bonds .
.2,361,431 25
Street railway bonds
. 100,000 00
Boston Terminal Company b
s . 300,000 00
Bank and trust company stocks . 179,450 00
Loans to counties, cities or tow: s . 175,000 00
“ railroad companies
. 424,625 00
on public funds .
.
25,000 00
.
25,000 00
“ railroad bonds
.6,640,184 51
“ real estate
“ personal security
.1,822,500 00
Bank building and fixtures .
. 200,000 00
Taxes, insurance, etc., paid on
mortgaged properties
157 43
Deposits in banks, on interest
. 288,923 96
7,758 66
Cash on hand
Checks and cash items
25 05

ia b il it ie s

Deposits .
Surplus:
Guaranty fund
Profit and loss

$12 834,438 35
640,000 00
183,646 27

Interest, rents, etc.
$141,209 65
Less current
Expenses . $8,032 57
Taxes
.
2,706 00 10,738 57
Fire insurance due mortgagors

$13,790,055 86

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

Shs.
41
93
50
100
142
79
355
20
200
200
132
138
42

legal
.

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Boylston National Bank, Boston
Commonwealth Trust Co., Boston
First National Bank, Boston
Fourth National Bank, Boston
National Bank of Commerce, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Old Boston National Bank, Boston
Second National Bank, Boston
State National Bank, Boston
W ebster & Atlas N ’l Bank, Boston
Naum keag National Bank, Salem


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1,500 16

$13 790,055 86

Par Value

.
.
.

130,471 08

$ 1 ,1 90,000
2,237 ,0 0 0
100,000
300,000
175,000
175,000

00
00
00
00
00
00

Estimated
Market Value
$1,191,910
2,198 ,7 9 5
104,500
294,000
175,187
175,875

00
00
00
00
50
00

Book Value

$1,190,000
2 ,2 2 3 ,5 5 6
100,000
300,000
175,000
174,625

00
25
00
00
00
00

450,000 00

446,500 00

437,875 00

$4,627,000 00

$4,586,767 50

$4,6 0 1 ,0 5 6 25

$5,740
9 ,300
7,750
31,400
22,720
12,640
102,950
3,200
22,200
43,000
19,140
20,010
6,090

$4,100
9,300
7,500
10,000
14,200
7,900
53,250
2,000
20,000
20,000
13,200
13,800
4,200

$4,100
9,300
5,000
10,000
14,200
7,900
35,500
2,000
2 0,000
20,000
13,200
13,800
4,200

00
00
00
00
00
00
00
00
00
00
00
00
00

$159,200 00

00
00
00
00
00
00
00
00
00
00
00
00
00

$306,140 00

00
00
00
00
00
00
00
00
00
00
00
00
00

$179,450 00

BANK COMMISSIONER

No. 8]

109

Franklin Savings Bank — Concluded
T otal A m ount

of

L oans

4%

“

4f
4f
5
5i
5^

.

“

“

“

“

.
.

“
“
“

.

5%
5%

“

“

“

“

6

“

“

“

“

“

“

“

“

T otals

Loans on Personal
Security

00
00
00
00
00
51

—

-

116,850 00
-

.
.
•
.
.

-

-

2 50,000 00
50,000 00
50,000 00
124,625 00
2 5,000 00
2 5,000 00
-

82,500 00
25 ,0 0 0 00

—

-

00
00
00
00
00
00
51
00
00
00
00
00
00
00
00
00
00
00

$6,6 4 0 ,1 8 4 51

$1,8 2 2 ,5 0 0 00

$ 6 4 9,625 00

$ 9 ,1 12,309 51

4 .5 7 per cent.

4 .9 3 per cent.

5 .1 4 per cent.

4 .6 8 per cent.

for

Salaries
A m ount paid for
*28,3 8 7 36
% of total assets .2 0 5 9 of 1 %

Y

e a r , e x c l u s iv e

«981 48
.0071 of 1 %

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Feb., 1908, 2 %
$238,209 38
A u g ., 1908, 2 %
. 241,0 1 4 0 4 8479,223 42

C a s h o n D e p o s it in B a n k s
First National Bank, Boston
.
National Shawmut Bank, Boston
Second National Bank, Boston .
B a y State Trust Co., Boston
.

$73,117
70,529
77,758
67,518

19
84
17
76

M is c e l l a n e o u s
N um ber of corporators, 7 3 ; trustees, 45
Gross income rec’d during year . $624,812 29
State ta x (net) paid “
“
.
28,740 53

E x a m i n a t i o n , October 27

of

Advertising

Rent

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
$ 1 ,8 71,130 87
N um ber of same
15,859
$2,051,639 64
Am ount of withdrawals
N um ber of same
17,427
. $298,714 65
N et increase in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-

—

00
00
00
00
00
00
00
-

3 9,160 00

.

-

-

-

795,000
50,000
9 4 ,500
2 55,000
100,000
2 70,500
100,000

$ 75,000
255,000
54,500
1,764,000
374,000
4 0,000
1 ,698,772
50,000
250,500
3,5 4 1 ,9 0 2
150,000
387,3 5 0
100,000
50,000
246,2 8 5
2 5,000
2 5,000
25 ,0 0 0

50,000 00

-

Interest

Total Loans

-

$50,000 00

156,000 00
3,036 ,9 0 2 00

T otal E xpen ses

of

ate of

Other Loans

-

-

Average rate

D ate

E a c h S p e c if ie d R

$75,000 00
$255,000
54,500
1,714,000
324,000
4 0,000
903,772

.

“
“
“

6i

b e a r in g

.

“

6|
7

O c t . 3 1 , 1908,

Loans on Real
Estate

Rate

3 .4 5 per cent.
3*
“
“
3|
“
“
4
“
“
H
“
“
4f
“
“

on

830 00
.0 0 0 2 of 1 %

Sta t e T a x e s

Other Expenses

Total

$3,608 15
.0261 of 1 %

$33,0 0 6 99
2393 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

F ix t u r e s
. $ 2 0 0,000 00
. 200,000 00
. 164,000 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“
.

2,343
1,877
24,511
$523 62

S t a t is t ic s o f L o a n s
No. not exceeding $3,000 each
348
A m ount of same
.
. $ 6 3 0,176 00
N o. of loans on real estate .
709
Average amount of same
.
$9 ,3 6 5 56
Am ount loaned on real estate
during year
.
.
. $ 9 2 2,350 00
N o. of new real estate loans
made during year .
.
73

110

REPO RT OF THE

[Pub. Doc,

FRANKLIN SAVINGS INSTITUTION, GREENFIELD
President, H

en ry

F. N a s h
Treasurer, C h a r l e s A
Clerk of the Corporation, J o h n E . D o n o v a n

Board of Investment:

H

en r y

L

Incorporated April 2, 1834.

F. N
N

ij c iu s

ash
im s

, Joseph W . Ste
, D ana M alone

ven s

, Joseph

Open for business every business day, 9

G

a .m

llen

r is w o l d

.

to 3

,

p .m

.

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first d ay of January and July

B

A

alance

Sh

eet

, O

ctober

31, 1908

ssets

Public funds
. $576,500
Railroad bonds .
.1,398,165
Street railway bonds
. 175,000
Telephone company bonds
.
21,625
Bank and trust company stocks .
47,000
Loans to counties, cities or towns . 125,925
“ on public funds .
.
70,000
“ bank and trust co. stocks
45,300
“ depositors’ books .
1,156
real estate
.2,171,967
“ personal security
.1,430,266
Real estate by foreclosure, etc.
8,008
Deposits in banks, on interest
. 133,818
Cash on hand
1,559
Checks and cash items
1,900

L ia b il it ie s

00
00
00
00
00
00
00
00
00
71
66
65
77
81
13

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$5,828,533 63
.

Interest, rents, etc.
Less current
Expenses .

. $60,657 94
3,331 16

$6,208,192 73

Public funds
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.

153
5
34
140
25
10
45
40
18

.
.

legal
.

Bank and Trust Company Stocks
National Bank of Commerce, Boston .
Faneuil H all National Bank, Boston .
W ebster & A tlas National B ’k, Boston
First National Bank, Greenfield
Franklin Co. N ’l Bank, Greenfield
N o. A dam s National Bank, N . A dam s
First N ’l Bank, N ortham pton .
Hampshire Co. N ’l B ’k, N ortham pton
Pittsfield National Bank, Pittsfield


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

57,326 78

$6,20S,192 73

Par Value

Schedule op Securities Owned

300,000 00
22,332 32

$516,500
1 ,401,000
175,000
2 5,000
125,925

00
00
00
00
00

Estimated
Market Value
$527,267
1 ,439,667
177,875
22,593
125,925

00
50
00
75
00

Book Value

$ 5 1 6,500
1,398 ,1 6 5
175,000
21 ,6 2 5
1 25,925

00
00
00
00
00

60,000 00

61,600 00

6 0,000 00

$2,3 0 3 ,4 2 5 00

$2,3 5 4 ,9 2 8 25

$2,2 9 7 ,2 1 5 00

$15,300
500
3 ,400
14,000
2,500
1,000
4,500
4,000
1,800

$24,480
690
4,930
2 1 ,000
2,500
1,150
5,850
4 ,120
2,880

$15,300
500
3 ,4 0 0
14,000
2 ,500
1,000
4 ,500
4,000
1,800

00
00
00
00
00
00
00
00
00

$47,000 00

00
00
00
00
00
00
00
00
00

$67,600 00

00
00
00
00
00
00
00
00
00

$47,000 00

BANK COMMISSIONER

No. 8]

111

Franklin Savings Institution — Concluded
T o t a l A m o u n t o f L o a n s o n O c t . 31,1908, b e a r i n g E a c h S p e c i f i e d R a t e o f In t e r e s t

Loans on Real
Estate

Rate

4 per cent.
4i “
«
4i “
“
4f “
“
5
“
“
5Ì “
“
5i “
“
5* “
“
6
“
“
6f «
64 “
“
6Ì “
“
7
“
“

.
.

Loans on Personal
Security

$110,000 00
4 9,000 00
928,070 00
.

-

-

.

-

.
.

.
.

-

-

Totals
Average rate

Total

Total Loans

$95,300 00
3 ,1 2 5 00
4 0,500 00

—

$ 2 4 2,000
4 5,000
270,300
2 5,000
50,000
115,000
294,9 6 6
2 5,000
223,0 0 0
7 5,000
65,000

1,084,897 71
•
.

Other Loans

00
00
00
00
00
00
66
00
00
00
00

$205,300
5 2 ,125
1 ,210,570
45,000
1,387,653
25 ,0 0 0
50,000
185,000
295,9 6 6
25,000
223,0 0 0
75,000
65,000

—

3 2,456 00
-

7 0,000 00
1,000 00
-

-

00
00
00
00
71
00
00
00
66
00
00
00
00

$2,1 7 1 ,9 6 7 71

$ 1 ,4 3 0 ,2 6 6 66

$242,381 00

$3,8 4 4 ,6 1 5 37

4 .7 2 per cent.

5 .6 0 per cent.

4 .6 6 per cent.

4 .9 9 per cent.

E xpenses

Salaries
A m ount paid for
$8,643 32
% of total assets . 1392 of 1 %

for

Y ear, exclusive

Rent
$360 00
.0 0 5 8 of 1 %

D eposits a n d W i t h d r a w a l s d u r i n g Y e a r

A m ount of deposits .
N um ber of same
Am ount of withdrawals
Num ber of same
N et increase in deposits

$612,178 57
7,082
$834,635 50
7,410
$ 3,755 55

of

Advertising
$38 00
.0 0 0 6 of 1 %

St a t e

Taxes

Other Expenses
$2 ,3 8 4 51
.0 3 8 4 of 1 %

Total
$11,425 83
.1 8 4 0 of 1 %

D eposit A ccou n t s

N um ber opened during year
N um ber closed
“
“
Total num ber O ct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

of

L

1,212
1,002
12,043
$483 97

oans

N o. not exceeding $ 3 ,000 each
508
A m ount of same
.
. $6 3 4 ,1 8 8 06
N o. of loans on real estate .
470
Average am ount of same
.
$4,621 20
C a s h o n D e p o s it in B a n k s
A m ount loaned on real estate
State National Bank, Boston
. $38,555 32
during year
.
.
. $ 2 4 0,275 00
First National Bank, Greenfield .
90 ,2 6 3 4 5 * N o. of new real estate loans
Franklin Co. N ’l Bank, Greenfield
5,000 00
m ade during year .
.
68
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .

d u r in g

Y

ear

$112,997 98
. 113,214 50 $ 2 2 6,212 48

M iscellaneous

D ate

of

E x a m i n a t i o n , December 3, 4

N um ber of corporators, 1 9 ; trustees, 17
Gross income rec’d during year . $290,971 89
State ta x (net) paid “
“
.
18,222 68
* This amount, in excess of the legal limit, has since been reduced.

GARDNER SAVINGS BANK, GARDNER
President, C h a r l e s W . C o n a n t
Clerk of the Corporation, F

rancis

Treasurer, J o h n
S. W h i t t e m o r e

D. E

dgell

Board of Investment: C h a r l e s W . C o
A lec

n a n t , S. W . A. S t e v e n s , E z r a O s g o o d ,
E. K n o w l t o n , E u c l i d L. B r o o k s

Incorporated M ay 26, 1868. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

112

R E PO R T OF THE

[Pub. Doc.

Gardner Savings Bank — Continued
B

A

alance

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

ssets

$264,932
Public funds
.
.
.
.
521,348
Railroad bonds .
.
.
.
91,187
Street railway bonds
Boston Terminal Company bonds .
8,080
Bank and trust company stocks
91,800
80,050
Loans to counties, cities or towns .
“
“ railroad companies
20,000
25,000
“
on railroad bonds
20,700
“
“ bank and trust co. stocks
“
“ depositors’ books .
785
“
“ real estate
1,170,834
822,016
“
“ personal security
Bank building and fixtures .
57,471
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
3,517
Deposits in banks, on interest
54,683
1,090
Cash on hand
.
.
.
.
Cash item .
.
.
.
.
56

85
75
50
00
00
00
00
00
00
00
19
66
00

151,500 00
41,739 47

Interest, rents, etc.
Less current
Expenses .

. 849,396 27
.

2,837 23

$3,233,553 62

Par Value

Schedule of Secuhities Owned

Shs.
18
3
50
20
25
20
10
50
80
5
54
5
8
30
316
12
100
34
100
28

.
.
.

$207,000
496,0 0 0
9 0 ,0 0 0
8 ,0 0 0
80 ,0 5 0
2 0,000

00
00
00
00
00
00

Estimated
Market Value
$211,567
491,012
9 1 ,1 7 5
7,840
8 0,210
2 0,062

50
50
00
00
31
50

Book Value

$212,259
495,348
91,1 8 7
8 ,0 8 0
8 0 ,0 5 0
2 0,000

85
75
50
00
00
00

legal

Bank and Trust Company Stocks
Millers R iver National Bank, A thol .
First National Bank, Barre
Eliot National Bank, Boston
First National Bank, Boston
Mechanics Trust Co., Boston
Merchants National Bank, Boston
Metropolitan National Bank, Boston .
N ’l Bank of the Republic, Boston
National Shawmut Bank, Boston
New England National Bank, Boston .
State National Bank, Boston
Conn. R . N ’l B ’k, Charlestown, N . H .
First National Bank, Clinton
Fitchburg S. D. & Tr. Co., Fitchburg .
First National Bank, Gardner .
Leominster N ’l Bank, Leominster
Orange National Bank, Orange
Crocker N ’l Bank, Turners Falls
First National Bank, W inchendon
Mechanics National Bank, W orcester .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

46,559 04

50
66
11
40

$3,233,553 62

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investm ents
.

$2,993,755 11

Deposits .
Surplus:
Guaranty fund
Profit and loss

7 8,000 00

7 3 ,153 75

7 8,673 00

$979,050 00

$975,021 56

$985,599 10

$1,800
300
5,000
2,000
2 ,500
2 ,000
1,000

00
00
00
00
00
00
00
-

8 ,000
500
5,400
500
800
3 ,000
3 1,600
1,200
10,000
3 ,400
10,000
2 ,800

00
00
00
00
00
00
00
00
00
00
00
00

$91,800 00

$3 ,0 6 0
300
9 ,7 5 0
6,280
2 ,500
4 ,340
1,200
2 ,500
2 3,200
700
7,830
500
920
4 ,500
3 4,760
1,560
18,500
4,760
13,500
3 ,220

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$143,880 00

$1,800
300
5,000
2 ,0 0 0
2 ,5 0 0
2,000
1,000

00
00
00
00
00
00
00
-

8 ,000
500
5,400
500
800
3 ,000
3 1 ,600
1,200
10,000
3 ,400
10,000
2,800

00
00
00
00
00
00
00
00
00
00
00
00

$91,800 00

BANK COMMISSIONER

No. 8]

113

Gardner Savings Bank — Concluded
T

A

otal

m ount of

L

oans

on

ct

3-J per cent.
4
“
“
4i “
“
4f “
“
5
“
“
5* “
“
5f “
“
6
“
“
6| “
“
U
(l

T

iv id e n d s

Other Loans

E

on

D

e p o s it

$ 2 ,1 3 9 ,3 8 5 85

4 .9 0 per cent.

5 .5 0 per cent.

4 .6 0 per cent.

5 .1 1 per cent.

for

Y

ear

,

e x c l u s iv e

Rent
$600 00
.0 1 8 5 of 1 %
d u r in g

Y

B

ear

d u r in g

Y

State

of

an k

ear

B

B

. $35,422 49
.
19,261 17

is c e l l a n e o u s

ate

of

E

x a m in a t io n

,

axes

Total
$ 9,217 82
.2 8 4 9 of 1 %

u il d in g

and

F

ix t u r e s

.

$57,471 00
—*

N um ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

9 75
1,061
7,771
$ 385 24

e p o s it

A

.
.

ccounts

14

anks

N um ber of corporators, 4 8 ; trustees, 18
Gross income rec’d during year . $159,412 76
State ta x (net) paid “
“
.
8,823 25
D

T

Other Expenses
$2 ,5 2 5 82
.0781 of 1 %

Book value
.
Estim ated value
D

. $56,602 43
. 56,992 71 $ 1 1 3,595

2 ,4 8 5 00

Advertising
$7 00
.0 0 0 2 of 1 %

$24,465 09

First National Bank, Boston
First National Bank, Gardner
M

00
00
00
00
19
00
00
66
00
00

$1 4 6 ,5 3 5 00

423,309
8 8,500
10,000
190,207
25 .0 0 0
65.000

$452,481 05
5,396
$541,611 10

in

$6,000
65,550
2 38,900
9 ,4 1 2
1,410,831
116,000
10,000
192,692
2 5.000
65.000

$20,000 00

S t a t is t ic s
Ca sh

Total Loans

$ 8 2 2,016 66

xpen ses

declared

n terest

$1,1 7 0 ,8 3 4 19

it h d r a w a l s

Jan., 1908, 2 % .
July, 1908, 2 % .

I

4 5,000 00
2 7,500 00

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits
D

ate of

00
00
00
66
00
00

Salaries
Am ount paid for
$6,0 8 5 00
% of total assets .1 881 of 1 %
W

S p e c if ie d R

ach

Loans on Personal
Security

.
.

otal

and

E

b e a r in g

$218,900 00
9 ,4 1 2 00
942,522 19

.
.
.

.

e p o s it s

3 1 , 1908,

$6,000 00
65,550 00

.
.
.
.
•
.
.
.

Average rate

D

.

Loans on Real
Estate

Rate

Totals

O

of

L

oans

N o. not exceeding $ 3,000 each
706
Am ount of same
.
. $771,521 13
N o. of loans on real estate .
731
Average amount of same
.
$1,601 69
Am ount loaned on real estate
during year
.
.
. $ 1 4 7,926 80
N o. of new real estate loans
made during year .
.
113

July 28, 29
* In process of construction.

GEORGETOWN SAVINGS BANK, GEORGETOWN
President, W . M . B r e w s t e r
Clerk of the Corporation, G
Board of Investment: H . H

ow ard

N

oyes

, Ch

Treasurer, E . S. F
e o

arles

.

S. W

E. T

ic k e t t

eston

yler

, Sylvester

A. D

onoghue

Incorporated M ay 26, 1868. Open for business every business day, except Saturdays,
9 a . m . to 2 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the fourth W ednesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

114

R E PO R T OF THE

[Pub. Doc,

Georgetown Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds .
Telephone company bonds
Bank and trust company stocks
Loans to railroad companies
“
on real estate
“
“ personal security
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
mortgaged properties
Deposit in bank, on interest .
“
“
“
not on interest
Cash on hand
.
.
.
.
Checks and cash items

$73,612
101,818
16,103
4,381
12,400
5,000
407,663
45,754
14,868

50
75
75
25
00
00
30
70
80

650
19,417
2,000
301
30

38
75
00
14
55

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.

37,000 00
1,919 86

Interest, rents, etc.

91 98

$704,002 87

$704,002 87

Par Value

Schedule op Securities Owned

Public funds
.
.
.
Railroad bonds
.
.
.
Street railway bonds
.
.
Telephone com pany bonds
Loans to railroad companies .
Bonds and notes which are not
investm ents
.
.
.

.
.

.
.
.

.

$52,0 0 0
9 0,000
15,000
5,000
5,000

now legal
.
.

Shs.
Bank and Trust Company Stocks
55 Georgetown N ’i Bank, Georgetown
50 E ssex National Bank, Haverhill
20 First National Bank, Ipswich

T

otal

A

m ount of

L

oans on

5Ì

per cent.
“

“

.

.

6

“

“

.

.

6¿
7
8

“

“

“

“

“

“

.
.
.

.
.
.

T otals

ct.

31, 1908,

Loans on Real
Estate

R ate

5

O

.

Average rate

T

otal

E

00
00
00
00
00

Estimated
Market Value

Book Value

$ 52,570
8 3,982
16,050
4 ,5 1 8
5,000

$ 53,612
9 0,103
15,000
4,381
5,000

00
50
00
75
00

50
75
00
25
00

33 ,0 0 0 00

3 3 ,0 5 5 00

32 ,8 1 8 75

$200,000 00

$ 1 9 5,176 25

$200,9 1 6 25

$5,500 00
5,000 00
2,000 00

$5,500 00
5,000 00
2 ,000 00

$5,400 00
5,000 00
2 ,000 00

$12,5 0 0 00

$12,500 00

$12,400 00

b e a r in g

E

ach

S p e c if ie d R

Loans on Personal
Security

ate

Other Loans

of

I

n terest

Total Loans

79
00
51
00
00

$24,781 94
307 76
10,665 00

10,000 00

-

$352,082
2 ,532
8 6,802
100
1,900
10,000

$407,663 30

$45,7 5 4 70

-

$453,418 00

5 .1 9 per cent.

5 .8 9 per cent.

-

5 .2 6 per cent.

$327,300
2 ,225
76,137
100
1,900
-

xpen ses

Salaries
Am ount paid for
$1,583 00
% of total assets . 2248 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$664,991 03

for

Y

e a r

,

Rent
$275 00
. 0390 of 1 %

—

-

-

—

—

e x c l u s iv e

of

Advertising
$8 50.
.0 0 1 2 of 1 %

State

T

73
76
51
00
00
00

axes

Other Expenses
$622 58
.0 8 8 4 of 1 %

Total
$2,4 89 08
.3 5 3 4 o f 1 %

115

BANK COMMISSIONER

No. 8]

Georgetown Savings Bank — Concluded
D

e p o s it s

and

W

it h d r a w a l s

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

Y

d u r in g

.

ear

• $37,7 5 4 31
702
$79,197 49
1,086
$ 15,505 64

D

e p o s it

A

ccounts

N um ber opened during year
Num ber closed
“
“
Total number O ct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

of

L

95
122
1,636
$406 47

oans

N o. not exceeding $3,000 each
332
Am ount of same
.
. $3 3 2 ,5 8 4 33
N o. of loans on real estate .
356
Average amount of same
.
$1 ,1 4 5 12
Am
ount
loaned
on
real
estate
C a s h o n D e p o s it in B a n k
during year
.
.
.
$9 ,0 7 5 00
Georgetown N ’l B ’k, Georgetown $21,417 75 *
N o. of new real estate loans
made during year .
.
12
M is c e l l a n e o u s
N um ber of corporators, 4 1 ; trustees, 15
Gross income rec’d during year . $ 3 3 ,0 4 6 78 D a t e o f E x a m i n a t i o n , January 31
State ta x (net) paid “
“
■
1,173 04
D

iv id e n d s

declared

April, 1908, 2 %
O ct., 1908, 2 %

Y

d u r in g

ear

•. $13,0 8 5 57
. 12,851 97 $25,937 54

* This amount, in excess of the legal limit, has since been reduced.

GRAFTON SAVINGS BANK, GRAFTON
President, A

lbert

L . F is h e r
Treasurer, J o s e p h A . D
Clerk of the Corporation, J o s e p h A . D o d g e

Board of Investment:

A
E

L. F

lbert

is h e r

P. U

dw ard

sh er

, Cl a r e n c e R.
, O l iv e r M . W

P

ratt

,

Solon

odge

F. S m

it h

,

in g

Incorporated March 13, 1869. Open for business every business day, except Saturdays,
9 a . m . to 12 m . ; 1.30 to 3 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifteenth d ay of January and July

B

A

alance

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

ssets

$10,400
82.200
30,757
8,750
500
253,107
3,193
10,873
1,638

Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans on real estate
“
“ personal security
Deposit in bank, on interest .
Cash on hand

00
00
50
00
00
00
39
72
86

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

$370,136 10

.

15,000 00
10,433 43

5,850 94

Interest, rents, etc.

$401,420 47

$401,420 47

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.

.
.

.
.
.

.

Estimated
Market Value

Par Value

Schedule op Secumties Owned

.
.
.

not now legal
.
.
.

Bank and Trust Company Stocks
6 Spencer National Bank, Spencer .

$10,400
8 3,000
2 6,000
10,000

00
00
00
00

$10,579
81,490
2 6 ,645
9 ,0 3 7

60
00
00
50

$10,400
8 2,200
25 ,7 5 7
8 ,750

00
00
50
00

5,000 00

4,250 00

5,000 00

$134,400 00

$132,002 10

$132,107 50

$600 00

$900 00

$500 00

Shs.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Book Value

116

R E PO R T OF THE

[Pub. Doc.

Grafton Savings Bank — Concluded
T

otal

A

m ount op

L

oans on

ct.

4£ per cent.
5
“
“
5* “
“
6
“
“

.

.

.

.

$20,375
175,072
8,450
49,210

T

E

otal

W

E

ach

Loans on Personal
Security

S p e c if ie d R

ate

Other Loans

of

I

n terest

Total Loans

$3,193 39

-

$253,107 00

$3,193 39

-

$256,300 39

5 .1 7 per cent.

6 .0 0 per cent.

-

5 .1 8 per cent.

xpen ses

Salaries
Am ount paid for
$ 1,115 47
% of total assets .2 7 7 8 of 1 %

e p o s it s a n d

b e a b in g

00
00
00
00

.

Average rate

D

31, 1908,

Loans on Real
Estate

R ate

Totals

O

ear

,

e x c l u s iv e

Rent
$100 00
.0 2 4 9 of 1 %

it h d r a w a l s d u r in g

A m ount of deposits
.
N um ber of same
.
A m ount of withdrawals
N um ber of same
.
N et increase in deposits

.
.
.
.

Y

Sta

of

Advertising
$13 20
.0 0 3 2 of 1 %

D

ear

. $49,402 25
.
534
. $54,602 89
.
608
.
$ 8,735 62

.

-

-

Y

for

$20,375
175,072
8 ,4 5 0
52,403

-

e p o s it

T

te

axes

Other Expenses
$482 85
.1 2 0 2 of 1 %

A

Total
$1,711 52
.4 261 of 1 %

ccounts

Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

00
00
00
39

of

L

111
68
849
$435 96

oans

N o. not exceeding $ 3,000 each
156
A m ount of same
.
. $166,257 00
$13,9 3 6 26
N o. of loans on real estate .
175
Average amount of same
.
$ 1,446 32
C a s h o n D e p o s it in B a n k
Am ount loaned on real estate
W orcester Trust Co., W orcester . $10,873 7 2 *
during year
.
.
. $14,1 5 0 00
N o. of new real estate loans
M is c e l l a n e o u s
made during year .
.
11
N um ber of corporators, 5 0 ; trustees, 22
Gross income rec’d during year . $18,915 02
D a t e o f E x a m i n a t i o n , March 26
State ta x (net) paid “
“
.
556 86
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .

.
.

d u r in g

Y

ear

$6,988 61
6,947 65

* This amount, in excess of the legal limit, has since been reduced.

GRANITE SAVINGS BANK, ROCKPORT
President, H

en ry

H . T

h ursto n

Clerk of the Corporation, N
Board of Investment:
Jam

H
es

en ry

A

H. T

bbott

a t h a n ie l

h u rsto n

, N

,

a t h a n ie l

Treasurer, G

rafton

R

,

ic h a r d s o n

B e n j . N. T a r r , G
R i c h a r d s o n , J r .*

B

utm an

Jr.
eorge

A.

L

o w e

Incorporated March 21, 1884. Open for business every business day, 9 a . m . to 12
W ednesdays and Saturdays, 2 to 3 p . m . ; Saturdays, 6 to 7 p .m .

,

m

.;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the eighth day of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

* Since resigned.

BANK COMMISSIONER

No. 8]

117

Granite Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns .
“
on real estate
“
“ personal security
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Furniture and fixtures .
Deposits in banks, on interest
“
“
“
not on interest .
Cash on hand
.
.
.
.

$68,000
25,140
5,000
1,800
4,400
10,100
207,516
23,255

00
00
00
00
00
00
00
00

5,400
250
21,594
311
369

00
00
96
10
93

Deposits .
Surplus:
Guaranty fund
Profit and loss

.

$357,337 14
12,850 00
2,071 00

878 85

Interest, rents, etc.

$373,136 99

$373,136 99

S chedule

of

Par Value

S ecurities O wned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

$57,000
2 4,500
5,000
2 ,000
10,100

.
.
.
legal
.

Shs.
Bank and Trust Company Stocks
15 Gloucester S. D . & T . Co., Gloucester .
12 Cape Ann N ’l Bank, Gloucester .
12 Rockport National Bank, Rockport

T otal A m ount

of

L oans

O c t . 31, 1908,

“

“

6

“

T otals

$ 57,000
2 3,390
5,000
1,800
10,100

34
50
00
50
00

“

.
.

“

.

.

.

Average rate

$111,600 00

$110,117 34

$110,040 00

$1 ,5 0 0 00
1,200 00
1,200 00

$3,000 00
1,800 00
1,200 00

$2,000 00
1,200 00
1,200 00

$3,900 00

$6,000 00

$4,400 00

b e a r in g

E ac h S p e c if ie d R

ate of

Other Loans

I nterest

Total Loans
$ 10,100
13,000
8,750
209,021

00
00
00
00

$4,200 00
203,3 1 6 00

$13,000 00
4,550 00
5 ,705 00

$ 2 0 7,516 00

$23,255 00

$ 10,100 00

$240,871 00

5 .9 8 per cent.

5 .3 4 per cent.

4 .0 0 per cent.

5 .8 4 per cent.

T otal E xpenses
Salaries
Am ount paid for
$ 1,150 98
% of total assets .3 0 8 4 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00

12,750 00

$10,100 00
.
.

“

$ 57,107
2 3,082
5,130
1,807
10,100

12,890 00

per cent.

5
5J

Book Value

13,000 00

Loans on Personal
Security

Loans on Real
Estate

R ate

4

on

00
00
00
00
00

Estimated
Market Value

for

Y

e a r , e x c l u s iv e

Rent

$200 00
.0 5 3 6 of 1 %

of

St a t e T a x e s

Advertising
$39 65
.0 1 0 6 of 1 %

Other Expenses
$202 75
.0 5 4 3 of 1 %

Total
$1,593 38
.4 2 6 9 of 1 %

118

[Pub. Doc.

R E PO R T OF THE
Granite Savings Bank — Concluded

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits
.
.
. $69,463 17
N um ber of same
.
.
.
1,225
Am ount of withdrawals
.
. $73,381 88
N um ber of same
.
.
.
1,088
N et increase in deposits
.
.
$ 9,298 37

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $6,549 62
O ct., 1908, 2 %
.
6,667 46 $13,217 08

C a s h o n D e p o s it i n B a n k s
Cape A n n N ’l Bank, Gloucester
City National Bank, Gloucester
Gloucester Safe Deposit & Trust
Company, Gloucester
.
Gloucester N ’l Bank, Gloucester
R ockport N ’l Bank, Rockport

. $ 6,297 79
. 6 ,056 02
.
.
.

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

129
127
1,349
$ 264 88

St a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
262
A m ount of same
.
. $201,471 00
N o. of loans on real estate .
242
Average am ount of same
.
$857 50
Am ount loaned on real estate
during year
.
.
. $26,0 3 8 00
N o. of new real estate loans
made during year .
.
32

9 ,490 2 1 *
D ate
2 6 04
36 00

of

E x a m i n a t i o n , March 3

M is c e l l a n e o u s
N um ber of corporators, 3 5 ; trustees, 12
Gross income rec’d during year . $17,851 71
State ta x (net) paid “
“
.
744 44
* This amount, in excess of the legal limit, has since been reduced.

GREAT BARRINGTON SAVINGS BANK, GREAT BARRINGTON
President, W

C. H i n m a n
Treasurer, C l a r e n c e R . S a b i n ,
Clerk of the Corporation, C l a r e n c e R . S a b i n

il l ia m

Board of Investment: W . C. H i n m a n , O. C. B i d w e l l , W . W . N o r t o n , A . S. F a s s e t t ,
F. H . T urner
Incorporated Feb. 3, 1869.

Open for business every business day, 9
1 to 3 P . M .

a .m .

to 12

m.;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first d ay of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908

$75,000 00
Public funds
.
.
.
.
331,675 00
Railroad bonds .
.
.
.
59,850 00
Street railway bonds
70,000 00
Boston Terminal Company bonds .
18,900 00
Telephone company bonds
67,959 26
Bank and trust company stocks
4,500 00
Loans to counties, cities or towns .
9,100 00
“
on bank and trust co. stocks
100 00
“
“ depositors’ books .
639,965 00
“
“ real estate
131,738 00
“
“ personal security
12,650 43
Deposits in banks, on interest
7,084 34
“
“
“
not on interest .
991 77
Cash on hand
.
.
.
.
362 92
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,429,876 72

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

.$1,340,696 47
50,600 00
14,127 04

. $26,035 25
.

1,582 04

24,453 21

$1,429,876 72

BANK COMMISSIONER

No. 8]

119

Great Barrington Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.

Shs.
6
35
32
25
54
14
52
46
24
50
36
1
25
100

Estimated
Market Value

Par Value

Schedule op Securities Owned

$65,000
333,000
25,000
70,000
2 1,000
4,500

.
.
.

00
00
00
00
00
00

$65,300
319,590
24 ,9 2 5
68,600
18,978
4,500

Bank and Trust Company Stocks
First National Bank, Adam s
Atlantic National Bank, Boston
Faneuil H all National Bank, Boston .
Merchants National Bank, Boston
New England National Bank, Boston
National Union Bank, Boston .
Peoples National Bank, Boston
N ’l Mahaiwe Bank, G t. Barrington
Lee National Bank, Lee .
Monson National Bank, Monson
N o. A dam s National Bank, No. Adam s
Pittsfield National Bank, Pittsfield .
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .

otal

A

m ount of

L

oans on

4 per cent.
4* “
“
5
“
“
6
“
“

.
.

.

.

T

otal

E

e p o s it s a n d

W

45,000 00

43 ,3 2 5 00

4 4,850 00

$545,218 75

$ 5 5 9,925 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00

$690
4 ,900
4 ,4 1 6
5,425
7,560
2 ,240
6,240
7,360
3 ,960
6,000
4,140
160
2 ,500
15,000

b e a r in g

E

$873
4,663
4,421
3 ,392
7,290
1,890
6 ,894
5 ,925
3 ,4 1 6
6,000
4 ,248
135
3 ,050
15,760

ach

S p e c if ie d R

ate

Other Loans

$131,013 00
725 00

34
75
00
50
00
00
00
00
67
00
00
00
00
00

$67,959 26

$70,591 00

Loans on Personal
Security

00
00
00
00

00
00
00
00
00
00
00
00
00
00
00
00
00
00

of

In

terest

Total Loans

$ 6,500
34 ,5 0 0
725,348
19,055

$13,600 00
100 00

00
00
00
00

$ 6 3 9,965 00

$131,738 00

$13,700 00

$785,403 00

5 .0 0 per cent.

5 .0 0 per cent.

4 .9 9 per cent.

xpen ses

it h d r a w a l s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00

4 .9 9 per cent.

Salaries
A m ount paid for
$ 2,927 00
% of total assets .2 0 4 7 of 1 %

A m ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits

$65,000
331,6 7 5
2 5,000
70,000
18,900
4,500

$563,500 00

$600
3 ,500
3,200
2,500
5,400
1,400
5,200
4 ,600
2 ,400
5,000
3 ,600
100
2 ,500
10,000

31, 1908,

$6,500
3 4 ,500
580,735
18,230

•

Average rate

D

ct.

Loans on Real
Estate

R ate

T otals

O

00
00
00
00
75
00

legal

$50,000 00

T

Book Value

.
.
.
.
.

for

Y

ear

,

e x c l u s iv e

Rent
$ 1,000 00
.0 6 9 9 of 1 %
d u r in g

Y

ear

. $283,558 84
.
3 ,9 0 4
. $274,497 49
.
3 ,236
. $57,842 73

of

State

Advertising
$42 15
.0 0 2 9 of 1 %
D

e p o s it

T

a xes

Other Expenses
$587 49
.0 4 1 0 of 1 %
A

Total
$ 4 ,556 64
3185 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

558
499
4,229
$317 02

120

R E PO R T OF THE

[Pub. Doc.

Great Barrington Savings Bank — Concluded
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Cash

on

D

Y

d u r in g

. $ 24,043 38
. 2 4 ,738 00

e p o s it

in

B

ear

$48,781

anks

N ’ l Mahaiwe B ank, G t. Barrington
Berkshire L . & Tr. Co/, Pittsfield .
Pynchon N ’ l Bank, Springfield .
Springfield Safe Deposit & Trust
Com pany, Springfield
.
.
M

$ 7,084
2 ,1 3 5
201
10,312

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
230
38 Am ount of same
.
. $ 2 7 9 ,6 8 3 43
N o. of loans on real estate .
240
Average am ount of same
.
$ 2 ,6 6 6 52
3 4 A m ount loaned on real estate
86
during year
.
.
. $ 1 3 1 ,6 5 0 25
6 2 * N o. of new real estate loans
made during year .
.
39
95
D a t e o f E x a m i n a t i o n , October 17

is c e l l a n e o u s

N um ber of corporators, 3 9 ; trustees, 16
Gross income rec’d during year . $62,306 64
State ta x (net) paid “
“
.
2,893 56
* In liquidation.

GREENFIELD SAVINGS BANK, GREENFIELD
President, R

A b e r c r o m b ie
Treasurer, W i l l i a m
Clerk of the Corporation, S a m u e l D . C o n a n t

obert

Board of Investment:

R

obert

L

evi

Incorporated March 19, 1869.

A

, W il l ia m A . F o
, J oh n H. Sa n d e r so n

b e r c r o m b ie

J. G

u n n

rbes

F. A

, Seorem

Open for business every business d ay, 9

a .m

ik e n

B.

.

Sl a

to 3

te

,

p .m

.

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first day of January and July

B

alance

Sh

ee t

Public funds
.
AsSE,1S_
_ $4,000
Railroad bonds .
.
.
.
875,993
Street railway bonds .
.
. 110,000
Telephone company bonds .
.
49,956
Bank and trust company stocks .
49,400
Loans to counties, cities or towns .
60,050
“ on railroad stocks
.
.
500
“
“ bank and trust co. stocks
500
“
“ depositors’ books
.
.
560
“
“ real estate
.
.
.1,220,340
“
“ personal security
.
. 197,014
Real estate by foreclosure, etc.
. 127,117
“
“
in possession
.
. 210,880
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
23,500
Miscellaneous advances
.
.
3,965
Deposits in banks, on interest
. 106,858
Cash on hand
.
.
.
.
2,552

, O

ctober

3 1 , 1908
L ia b il it ie s

00
75
00
50
00
00
00
00
00
41
52

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$2,930,535 17
97,953 96
3,181 81

Interest, rents, etc.
Less current
Expenses .
.

. $14,349 69
.

2,830 21

98

00
46
65
95

$3,043,190 42


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$3,043,190 42

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.

11,519 48

20

.
.
.

$4,000
877,0 0 0
6 0,000
55.000
60,050

00
00
00
00
00

Estimated
Market Value

Book Value

$4,100
826,092
59,200
49 ,7 0 6
60,050

$4,000
855,073
60,000
49 ,9 5 6
60,050

00
50
00
25
00

00
75
00
50
00

legal
7 2.000 00

7 3 ,310 00

70,920 00

$1,1 2 8 ,0 5 0 00

$ 1 ,0 72,458 75

$ 1 ,1 00,000 25

No. 8]

121

BANK COMMISSIONER
Greenfield Savings Bank — Concluded

Shs.
38
34
100
60
12
67
25
75
18
50
15

Estimated
Market Value

Par Value

Schedule op Securities Owned

Bank and Trust Company Stocks
Conway National Bank, Conway
First National Bank, Greenfield
Franklin Co. National Bank, Greenfield
N o. A dam s National B ank, N o. Adam s
First National Bank, Northam pton .
Palmer National Bank, Palmer
Shelburne Falls N ’l B ’k, Shel. Falls .
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .
Union Trust Co., Springfield
Crocker National Bank, Turners Falls

$3,800
3 ,400
10,000
6,000
1,200
6,700
2 .500
7 .500
1,800
5,000
1.500

00
00
00
00
00
00
00
00
00
00
00

$3,800
5.100
10,000
6,900
1,560
6.700
3 ,6 2 5
7,500
2 .700
8 ,250
2 .100

$ 49,400 00

T

otal

A

m ount of

L

oans on

per cent.

1

4
5
5-h
6

Totals

E

b e a r in g

T

28,0 0 0
1 ,066,640
450
250

ach

Loans on Personal
Security

S p e c if ie d R

.
.

.

.

.

E

otal

Other Loans

W

Jan., 1908, 2 % .
July, 1908, l f %
on

D

in

00
00
00
41
00
52

$ 1 ,4 7 8 ,9 6 4 93

5 .7 1 per cent.

4 .2 4 per cent.

4 .7 1 per cent.

xpen ses

for

Y

ear

,

e x c l u s iv e

Rent
$505 00
.0 1 6 5 of 1 %
d u r in g

Y

1,560 00

of

State

Advertising
$125 05
0041 of 1 %
D

ear

. $279,790 86
3,507
. $ 5 3 0,195 83
4,368
. $138,783 23
d u r in g

Y

ear

B

anks

$28,170
5 0,106
34
28,547

42
49
38
36

e p o s it

T

axes

Other Expenses
$1,509 01
.0 4 9 5 of 1 %
A

Total
$ 7,288 01
.2 3 9 2 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.
of

L

523
732
6,779
$432 29

oans

N o. not exceeding $3,000 each
584
Am ount of same
.
. $ 6 3 6,035 47
N o. of loans on real estate .
651
Average amount of same
.
$ 1 ,8 7 4 56
A m ount loaned on real estate
during year
.
.
.
4 6 ,5 9 4 00
N o. of new real estate loans
made during year .
.
31
D

is c e l l a n e o u s

N um ber of corporators, 2 4 ; trustees, 14
Gross income rec’d during year . $121,182 47
State ta x (net) paid “
“
.
7,059 31


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$125,000
54,000
3 3 ,500
1,111,452
8 ,825
146,187

4 .5 7 per cent.

N ’l Bank of Commerce, Boston
Franklin Co. N ’l B ’k, Greenfield
Orange National Bank, Orange
U nion Trust Co., Springfield
M

nterest

$61,610 00

. $59,8 9 4 80
. 5 1,726 9 4 $111,621 74

e p o s it

I

$ 1 9 7,014 52

it h d r a w a l s

declared

of

Total Loans

$45,500 00
5,500 00
9 ,0 5 0 00

S t a t is t ic s
iv id e n d s

Cash

ate

$1,2 2 0 ,3 4 0 41

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits
D

$49,400 00

35 ,7 6 2 00
8 ,3 7 5 00
144,377 52

Salaries
A m ount paid for
$ 5,148 9 5
% of total assets .1691 of 1 %
and

00
00
00
00
00
00
00
00
00
00
00

00
41
00
00

.

.

e p o s it s

$3,800
3 ,400
10,000
6,000
1,200
6,700
2 .500
7 .500
1,800
5,000
1.500

$58,2 3 5 00

$ 8,500 00
.

Average rate

D

3 1 ,1 9 0 8 ,

00
00
00
00
00
00
00
00
00
00
00

$ 1 2 5,000 00

“
“
“
“
“

“
“
“
“

ct.

Loans on Real
Estate

R ate

H

O

Book Value

ate

of

E

x a m in a t io n

,

February 6

122

REPO RT OF THE

[Pub. Dpc,

HAMPDEN SAVINGS BANK, SPRINGFIELD
President, C h a r l e s L . G a r d n e r
Treasurer, J o h n B . P h e l p s
Clerk of the Corporation, J o h n B . P h e l p s
Board of Investment:

C h a r l e s L . G a r d n e r , F . H . S t e b b i n s , D w i g h t O. G i l m o r e ,
F. E . Ca r p e n t e r

Incorporated April 13, 1852. Open for business every business day, except Saturdays,
9 a .m . to 4 p .m . ; Saturdays, 9 a .m . to 12 M.
Deposits commence to draw interest the fifteenth day of February, M ay, August and
Novem ber. Dividends are payable the fifteenth day of February and August
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
L ia b il it ie s

A ssets

Public funds
. $125,000
Railroad bonds .
.1,363,842
Street railway bonds
. 124,000
Boston Terminal Company bonds . 250,000
Bank and trust company stocks .
38,200
Loans to counties, cities or towns
2,500
‘ on railroad bonds
4,200
“ railroad stocks
.
14,500
“ bank and trust co. stock s
11,500
“
“ real estate
.1,319,520
“
“ personal security
. 790,100
.
73,222
Deposits in banks, on interest
Cash on hand
2,381

00
00
00
00
00
00
00
00
00
00
41
71
06

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$3 889,417 51
194,800 00
19,515 58

Interest, rents, etc.
Less current
Expenses .

. $17,210 03
.

1,976 94

$4,118,966 18

S chedule

of

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Boston Terminal Company
Loans to counties, cities or

Shs.
50
64
30
25
213
50

.
.

.
.
.
.
bonds
towns

$4 118,966 18

Par Value

S ecurities O w ned

.
.
.

$125,000
1 ,375,000
125.000
250.0 0 0
2 ,500

Bank and Trust Company Stocks
National B ank of the Republic, Boston
Hampshire Co. NT B ’k, Northam pton
First National Bank, Norwich, Conn.,
U ncas National Bank, Norwich, Conn.
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .

00
00
00
00
00

of

L oans

R ate

4

on

O c t . 3 1 ,1 9 0 8 ,

“

“

6

“

“

“

“

“

“

T otals

$116,750
1,314 ,1 2 5
123,625
245,000
2 ,500

00
00
00
00
00

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.

$125,000
1,363 ,8 4 2
124.000
250.0 0 0
2 ,5 0 0

00
00
00
00
00

$1,8 6 5 ,3 4 2 00

$6,400
3 .000
2 ,500
2 1,300
5.000

$2,500
6,592
2 ,400
2 .5 0 0
21,3 0 0
7 .500

$ 6,400
3 .000
2 ,500
21 ,3 0 0
5.000

00
00
00
00
00

b e a r in g

00
00
00
00
00
00

$42,792 00

E a c h S p e c if ie d R

Loans on Real
Estate

Loans on Personal
Security

$ 61,300 00
1 ,258,220 00

$40,000
578,069
169,031
3 ,000

Other Loans

$ 2,500 00
.
.
.
.

Book Value

$1,8 0 2 ,0 0 0 00

per cent.

4Ì
5
5Ì

Estimated
Market Value

$ 1 ,8 77,500 00

$38,200 00

T otal A m ount

15,233 0 9

00
34
07
00

3 0,200 00

00
00
00
00
00

$ 38,200 00

ate of

I nterest

Total Loans

$2,500
101,300
1,866,489
169,031
3 ,000

00
00
34
07
00

$1,3 1 9 ,5 2 0 00

$790,100 41

$32,700 00

$2,1 4 2 ,3 2 0 41

4 .9 7 per cent.

5 .0 8 per cent.

4 .9 2 per cent.

5 .0 1 per cent.

No. 8]

BANK COMMISSIONER
Hampden Savings Bank —
T otal E x pen ses

Salaries
A m ount paid for
$ 7,106 64
% of total assets .1 7 2 5 of 1 %

for

Y

D e p o s it s a n d W it h d r a a v a l s
Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

of

Advertising
$246 97
.0 0 5 9 of 1 %

Y ear
$776,297 94
7,975
$833,583 17
6,955
$89,069 98

d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
F eb., 1908, 2 %
. $72,553 88
A u g ., 1908, 2 %
. 73,801 33 $146,355 21
C a s h o n D e p o s it i n B a n k s
Eliot National Bank, Boston
Chapin National Bank, Springfield
Chicopee N ’l Bank, Springfield
Third National B ’k, Springfield .
U nion Trust Co., Springfield

Concluded

e a r , e x c l u s iv e

Rent
$ 2,000 00
.0 4 8 5 of 1 %

$ 3 ,446 22
3 4 ,008 80
4,988 69

123

St a t e T a x e s
Other Expenses
$904 82
.0 2 1 9 of 1 %

Total
$10,258 43
.2 4 8 8 of 1 %

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

1,444
1,381
7,547
$515 35

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
239
A m ount of same
.
. $360,401 07
N o. of loans on real estate .
275
Average amount of same
.
$ 4,798 24
A m ount loaned on real estate
during year
.
.
. 2 44,300 00
N o. of new real estate loans
m ade during year .
.
20

10,000 00
20,779 00

D ate

of

E x a m i n a t i o n , August 3

M is c e l l a n e o u s
N um ber of corporators, 4 7 ; trustees, 16
Gross income rec’d during year . $178,073 15
State ta x (net) paid “
“
.
11,336 56

HAVERH ILL SAVINGS BANK, H AVERH ILL
President, E l b r id g e G. W o o d
Treasurer, R
Clerk of the Corporation, R a y m o n d N o y e s
Board of Investment: E l b r id g e G . W

ood,

W

m.

aym ond

W . Sp a u l d in g , W

N oyes
E m erson

arren

Incorporated Feb. 8, 1828.
Open for business every business day, except Saturdays,
9 a .m . to 2 p .m .; Saturdays, 9 a .m . to 12.30 p .m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the fourth W ednesday of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
L ia b il it ie s

A ssets

Public funds
.
.
.
. $668,500
Railroad bonds .
.
.
. 1,848,473
94,000
Street railway bonds
180,250
Bank and trust company stocks
55,000
Loans to counties, cities or towns .
75,000
“
“ railroad companies
15,950
. “ on railroad stocks
18,550
“
“ bank and trust co. stocks
1,408,600
“
“ real estate
1,753,762
“
“ personal security
25,000
Bank building and fixtures .
3,750
Real estate in possession
Taxes, insurance, etc., paid on
329
mortgaged properties
420
Expense on real estate in possession
280,803
Deposits in banks, on interest
5,000
“
“
“
not on interest .
11,192
Cash on hand
.
.
.
.
1,241
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
75
00
00
00
00
00
00
00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .
.
.

.

.

.$5,858,283 86
.
.

.

Due on foreclosed estate

296,000 00
288,914 53

$2,434 05
20 00

2,414 05
210 64

16
82
31
00
77
27

$6,445,823 08

$6,445,823 08

124

REPO RT OF THE

[Pub. Doc.

Haverhill Savings Bank — Continued
Schedule op Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
.
Street railway bonds
.
.
.
.
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
50
100
187
225
450
141
16
100
96
375
300
50

Estimated
Market Value

Par Value

$592,500
1,861,000
94,000
55,000
2 5 ,000

00
00
00
00
00

$588,407
1,776,405
9 3,780
54,475
25,000

A

m ount of

L

oans on

3^ per cent.
4
“
“
4i “
“
4* “
“
4f “
“
4f »
“
5
“
“
51 “
“

•
.
•
.
.
.

£>î
6
6i

. . .

T otals

“
“
“

•
.
.
.
.
.

•

.

Average rate

T

126,000 00

$2,663,562 50

$2,740,973 75

45,000
14,100
1,600
10,000
9 ,600
37,500
30,000
3,750

e p o s it s

31, 1908,

otal

E

and

W

$1,000
13,800
29,920
11,250
130,500
20,445
2,320
10,000
12,960
67,500
40,500
5,550

00
00
00
00
00
00
00
00


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

E

b e a r in g

$345,745 00

ach

Loans on Personal
Security

_

_

—

—

$80,000
555,800
25,000
150,000
177,662
397,500
51,750
2 5,000
241,0 5 0
5 0,000

00
00
00
00
00
00
00
00
00
00
00
00

S p e c if ie d R

$10,000 00
18,700 00
45,000
14,100
1,600
10,000
9,600
37,500
30,000
3,750

$180,250 00

ate of

Other Loans

00
00
00
00
00
00
00
00

In

terest

Total Loans

$35,000 00
2 0,000 00

$ 35,000
20,000
8 0 ,000
946,300
2 5,000
162,500
1 ,197,362
416,000
65,550
25,000
3 04,150
50,000

00
00
00
00
00
00
00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00

2 6,250 00
-

$1,4 0 8 ,6 0 0 00

$1,7 5 3 ,7 6 2 00

$164,500 00

$ 3 ,3 26,862 00

4 .8 9 per cent.

5 .0 4 per cent.

4 .7 2 per cent.

4 .9 6 per cent.

$390,500 00
-

12,500 00
962,4 5 0 00
6,300 00
3 6,850 00
-

xpen ses

it h d r a w a l s

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

00
75
00
00
00

$2,753,500 00
$4,750 00
10,000 00
18,700 00

-

Salaries
A m ount paid for
$10,440 00
% of total assets .1 6 1 9 of 1 %
D

ct.

Loans on Real
Estate

Rate

“
“
“

O

$592,500
1,848,473
94,000
55,000
25,000

125,495 00

Bank and Trust Company Stocks
Central National Bank, Boston
Faneuil H a ll National Bank, Boston .
Fourth National Bank, Boston
N ’l Bank of the Republic, Boston
National Shawmut Bank, Boston
State National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
Essex National Bank, Haverhill
First National Bank, Haverhill
Haverhill National Bank, Haverhill .
Merrimack National Bank, Haverhill
B a y State N ’l Bank, Lawrence .

otal

50
00
00
00
00

126,000 00

$185,000 00

T

Book Value

for

Y

e a r

,

e x c l u s iv e

Rent
$ 1,295 73
.0201 of 1 %
d u r in g

Y

ear

. $656,683 53
11,164
. $908,700 73
12,197
. $28,320 04

-

57,250 00
18,500 00
7 ,500 00
-

of

State

T

a xe s

Advertising Other Expenses
$ 1 ,316 93
.0 2 0 4 of 1 %
B

an k

B

u il d in g

Book value
Estim ated value
Assessed value .

and

F

Total
$13.052 66
.2 0 2 4 of 1 %
ix t u r e s

$25,000 00
59,300 00
59,300 00

BANK COMMISSIONER

No. 8]

125

Haverhill Savings Bank — Concluded
D

iv id e n d s

declared

April, 1908, 2 %
O ct., 1908, 2 %
Cash

on

D

Y

d u r in g

e p o s it

in

B

anks

$100,999
45,000
9 4,804
45,000

First National Bank, Boston
First National Bank, Haverhill
Haverhill N ’l Bank, Haverhill
Merrimack N ’l Bank, Haverhill.
M

D

ear

$111,977 20
. 111,719 96 $223,697 16
04
00
27
00

is c e l l a n e o u s

N um ber of corporators, 4 3 ; trusl ;es, 12
$299,740 16
Gross income rec’d during year
20,986 59
State ta x (net) paid “

e p o s it

A

ccounts

N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

of

L

1,089
1,377
15,396
$380 51

oans

No. not exceeding $ 3 ,000 each
357
Am ount of same
.
. $489,620 00
N o. of loans on real estate .
451
Average amount of same
.
$3,123 28
Am ount loaned on real estate
during year
.
.
. $121,750 00
No. of new real estate loans
made during year .
.
37
D

ate

E

of

x a m in a t io n

,

January 13, 14

H AYDENVILLE SAVINGS BANK, H AYDENVILLE
President, B

yron

L

Treasurer, W . M. P

o o m is

Clerk, of the Corporation, A
Board of Investment:
T

B

yron

hom as

P. L

L

lfred

o o m is ,

a r k in

u r r in g t o n

G. Cone

G eorge M arks, L em
, T . I. B r e c k e n r id g e

uel

C.

G

raves

,

Incorporated March 17, 1869. Open for business every business day, except Saturdays,
9 a .m . to 4 p .m . ; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the second Tuesday of January, April, July and
October. Dividends are payable the second Tuesday of January and July

B

A

alance

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

ssets

$31,000 00
Public funds
.
.
.
.
Railroad bonds .
.
.
.
89,055 00
10,500 00
Boston terminal company bonds .
8,737 50
Telephone company bonds .
23,700 00
Bank and trust company stocks
11,926 61
Loans to counties, cities or towns .
“
on bank and trust co. stocks
275 00
“
“ depositors’ books
2,025 00
309,334
56
“
“ real estate
32,482 10
“
“ personal security .
1,370 83
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
97 00
mortgaged properties
2,600 00
Furniture and fixtures .
18,479 28
Deposits in banks, on interest
1,968 87
Cash on hand
.
.
.
.
695 40
Checks and cash items

$519,650 31

Deposits .
Surplus:
Guaranty fund
Profit and loss

22,000 00
592 74

Interest, rents, etc.
Less current
Expenses .

.

$2,631 38
627 28

$544,247 15

$544,247 15

Par Value

Schedule or Securities Owned

Public funds
.
.
Railroad bonds
.
.
Boston Terminal Company
Telephone com pany bonds
Loans to counties, cities or


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.
bonds
towns

.
.

2,004 10

$31,000
91 .0 0 0
10.000
10,000
11,926

00
00
00
00
61

$153,926 61

Estimated
Market Value

Book Value

$31,810
8 7 ,770
9 ,800
9 ,037
11,926

$ 31,000
89,0 5 5
10,500
8 ,737
11,926

00
00
00
50
61

$ 1 5 0,344 11

00
00
00
50
61

$151,219 11

126

R E PO R T OF THE

[Pub. Doc.

Hayden ville Savings Bank — Concluded
Schedule op Securities Owned

Estimated
Market Value

Par Value

Shs.
Bank and Trust Company Stocks
18 Conway National Bank, Conway
21 First National Bank, Eastham pton
25 City National Bank, H olyoke
25 H om e National Bank, H olyoke .
25 Park National Bank, H olyoke
42 First National Bank, Northam pton
40 Hampshire Co. N ’l Bank, Northam pton
9 N ortham pton N ’l Bank, Northam pton
10 Chicopee N ’l Bank, Springfield .

$1,800
2 ,100
2.500
2.500
2 .500
4,200
4 .000
900
1.000

00
00
00
00
00
00
00
00
00

$1,800
2,100
3 ,000
3 ,1 2 5
2.500
5,460
4,120
1,800
1.500

$21,500 00

T

otal

A

m ount of

L

oans on

O

ct.

3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

b e a r in g

E

“

“

5
5%

“

“

“

“

6
6J

“
»

“
“

Totals

■
.
.
.

ach

Loans on Personal
Security

$263,152 11
7,800 00
3 8,382 45

.
.
.

T

otal

E

S p e c if ie d R

Other

e p o s it s

and

W

iv id e n d s

Cash

on

D

e p o s it

$6,500
3 ,500
274,128
7,800
6 2 ,114
2 ,000

00
00
72
00
55
00

5 .8 1 per cent.

4 .5 5 per cent.

5 .1 7 per cent.

xpen ses

for

Y

.
.
.
.
.

ear

,

Rent
$200 00
0367 of 1 %
Y

e x c l u s iv e

State

of

Advertising
$48 34
.0 0 8 8 of 1 %
D

ear

e p o s it

d u r in g

B

T

axes

Other Expenses
$601 64
.1 1 0 5 of 1 %
A

Total
$ 2,333 30
.4 2 8 7 of 1 %

ccounts

. $110,312 00
Num ber opened during year
.1,632
Num ber closed
“
“
. $114,762 04
T otal number O ct. 31, 1908 .
.1,305
Average balance “
“
.
. $14,993 29
Y

ear

$19,443 33

anks

$ 6,345 50
12,133 78

is c e l l a n e o u s

N um ber of corporators, 4 7 ; trustees, 24
Gross income rec’d during year . $ 2 5 ,9 4 6 21
State ta x (net) paid “
“
.
725 16


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total Loans

$356,043 27

H am p. Co. N ’l B ’k, N ortham pton
N ortham pton
National
Bank,
N ortham pton
.
.
.
M

n terest

$14,2 2 6 61

. $ 9,697 45
.
9 ,7 4 5 88
in

Loans

I

$32,482 10

it h d r a w a l s d u r in g

declared

of

$3 0 9 ,3 3 4 56

S t a t is t ic s
D

ate

5 .1 3 per cent.

Am ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits

Jan., 1908, 2 % .
July, 1908, 2 % .

$23,700 00

$6,500 00
3,500 00
3,951 61

$ 7 ,025 00

00
00
00
00
00
00
00
00
00

275 00

Salaries
A m ount paid for
$1,483 32
% of total assets .2 7 2 5 of 1 %
D

$1,800
2 ,100
2 ,700
3 .0 0 0
2 ,5 0 0
5.000
4.000
1,600
1.000

2 3,457 10
2 ,000 00

.

Average rate

00
00
00
00
00
00
00
00
00

$25,405 00

4^ per cent.
4*

Book Value

of

L

212
170
1,527
$340 30

oans

N o. not exceeding $ 3,000 each
441
Am ount of same
.
. $273,043 27
N o. of loans on real estate .
314
Average amount of same
.
$985 14
A m ount loaned on real estate
during year
.
.
. $14,871 00
N o. of new real estate loans
made during year .
.
33
D

ate

of

E

x a m in a t io n

,

April 9

No. 8]

BANK COMMISSIONER

127

HINGHAM INSTITUTION" FOR SAVINGS, HINGHAM
President, F r a n c is H . L in c o l n
Clerk of the Corporation, H

Treasurer, H o w a r d P. H
P. H e r s e y

F r a n c is H . L in c o l n , M o r r is F . W
F r e d e r ic M . H e r s e y

Board of Investment:

ersey

ow ard

h it o n ,

H

W . C u s h in g ,

enry

Incorporated April 2, 1834. Open for business every business day, except Saturdays,
8 a .m . to 12 m ., 1 to 4 p .m . ; Saturdays, 8 a .m . to 12 m .
Deposits commence to draw interest the first T uesday of January, April, July and October
Dividends are payable the W ednesday following the first T uesday of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L ia b il it ie s

ssets

P u b lic fu n d s
.
.
.
. $127,125
R a ilr o a d b on d s .
583,865
S treet ra ilw a y b on d s
90,000
B o s t o n T e rm in a l C o m p a n y b o n d s . 114,000
T e le p h o n e c o m p a n y b on d s
3 1,712
B a n k a n d tru st c o m p a n y sto c k s
8,977
L o a n s t o cou n ties, cities o r to w n s .
4 1,572
“
on real esta te
1,018,664
“
“ p erson a l s e cu rity
560,127
B a n k b u ild in g a n d fixtu res .
5,000
R e a l esta te b v foreclos u re, e tc.
7,699
S tock s, b on d s, e t c ., tak en to secure
in d eb ted n ess
.
.
.
.
36,546
D e p o s its in b an k s, o n in terest
34,339
“
“
“
n o t on in terest .
1,510
Cash on h a n d
.
.
.
.
1,453

00
00
00
00
50
00
20
26
37
00
40

D e p o s its .
.
S urplus:
G u a r a n ty fu n d
P r o fit a n d loss

.

.

.$ 2 ,4 6 8 ,3 1 8 28

.
.

In te re s t, rents, e t c .

.
.

.
.

. $44,962 86

Less current
E xpenses .
T axes
.

$1,962 34
51 73

2,014 07

$123,000
588,000
9 0 ,000
100,000
3 5 ,000
41,572

.
.
.

L oans

on

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

“

“

.

4

“

“

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

$119,000
560,655
9 0,300
9 8,000
31,631
4 2,216

Book Value

00
00
00
00
25
40

$122,125
5 83,865
9 0,000
114,000
31,712
41,572

00
00
00
00
50
20

5,000 00

4,850 00

5,000 00

$982,572 20

$946,652 65

$ 9 8 8,274 70

$1,750 00
8,900 00
140 00

$50 00
10,235 00
77 00

$8,900 00
77 00

$10,790 00

$10,362 00

$8,977 00

b e a r in g

-

$ 39,155 00

E a c h S p e c if ie d R

Loans on Personal
Security

3-j per cent.
3f

00
00
00
00
00
20

Estimated
Market Value

legal

Shs. Bank and Trust Company Stocks
50 Tremont National Bank, Boston
89 H ingham National Bank, H ingham
14 Union National Bank, W eym o u th

of

$2,6 62 ,5 9 2 01

Par Value

Schedule op Securities Owned

T otal A m ount

4'2,948 79

87
12
00
29

$ 2,662,592 01

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

127,503 00
23,821 94

-

Other Loans

$ 8,900 00
12,000 00
6,800 00

-

ate of

I nterest

Total Loans

$8 900 00
12,000 00
4 5,955 00

128

[Pub. Doc.

REPO RT OF TH E
Hingham Institution for Savings — Concluded

T otal A m ou nt

of

L oans

H

“

“

5i
5|

“
“

“
«

5i

“

“

5f

“

«

6

“

“

6£

“

“

7

“

“

T otals

•
.

Loans on Personal
Security
$60,000
193,800
135,000
2 0,000
2 7 ,800
3 5 .000
2 5 .000
1,750
5,300
55,427
1,050

$103,000 00
87,300 00
.

■

5

O c t . 3 1 , 1908, b e a r i n g E a c h S p e c if ie d R a t e
— Concluded

Loans on Real
Estate

Rate

4£ per cent.
4* “
“
4f “
“

on

.
•
.
•
.

.

.
.

.
.

658,819 26

.
52,700 00
.
7 6,990 00

.

Average rate

Other Loans

00
00
00
00
00
00
00
00
00
37
00

of

Interest

Total Loans

$163,000
294,972
135,000
2 0,000
686,619
3 5.000
2 5.000
54,450
5,300
132,417
1,050
700

$13,872 20

700 00

00
20
00
00
26
00
00
00
00
37
00
00

$1,0 1 8 ,6 6 4 26

$560,127 37

$41,572 20

$1,620,363 83

4 .9 4 per cent.

4 .8 0 per cent.

3 .9 8 per cent.

4 .8 7 per cent.

T otal E xpen ses

for

Y

D e p o s it s a n d W it h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

e a r , e x c l u s iv e

Rent

Salaries
Am ount paid for
$5,349 97
% of total assets .2 0 0 9 of 1 %

Y ear
. $226,200 07
.
2 ,2 5 8
. $337,409 47
.
3,051
. $14,963 81

d u r in g

D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $48,327 18
July, 1908, 2 % .
. 4 7,918 41 $96,245 59

of

St a t e T a x e s

Advertising
$65 50
.0 0 2 4 of 1 %

Other Expenses
$1,421 83
.0 5 3 4 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

Total
$6,837 30
.2 5 6 7 of 1 %

F ix t u r e s
.
$5,000 00
.
5,000 00
.
3 ,5 0 0 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

382
424
5,002
$493 46

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
W ebster & A tlas N ’l B ’k, Boston .
H ingham N ’l Bank, H ingham
.

S t a t is t ic s o f L o a n s
$ 4,038 21 N o. not exceeding $ 3,000 each
2 85
1,510 00 Am ount of same
.
.$ 3 6 8 ,1 8 5 00
30 ,3 0 0 91
No. of loans on real estate .
338
Average am ount of same
. $3 ,0 1 3 79
M is c e l l a n e o u s
A m ount loaned on real estate
N um ber of corporators, 5 6 ; trustees, 13
during year
.
.
. $93,0 0 4 57
Gross income rec’d during year
. $ 1 1 9,465 67 N o. of new real estate loans
State ta x (net) paid “
“
.
6,883 54
made during year .
.
32
D ate

of

E x a m i n a t i o n , August 26

HOLLISTON SAVINGS BANK, HOLLISTON
President, G e o r g e A . B a r t l e t t
Treasurer, J a m e s F . F i s k e
Clerk of the Corporation, J a m e s F . F i s k e
Board of Investment: G e o r g e A . B a r t l e t t , J o s e p h H . D e w i n g , A l o is e M a e d e r ,
Ch a r l e s A . C r o w l e y , F r a n k T . D a n i e l s
Incorporated Feb. 27, 1872. Open for business every business day, except Saturdays,
9 a .m . to 12 m ., 1.30 to 3.30 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first day of March, June, September and December
Dividends are payable the first Tuesday of June and December


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

129

Holliston Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
P u b lic fu n d s
R a ilr o a d b o n d s .
.
.
.
S treet ra ilw a y b on d s
B o s t o n T e rm in a l C o m p a n y b o n d s .
T e le p h o n e c o m p a n y b o n d s
.
B a n k a n d tru st c o m p a n y sto c k s
L oa n s t o cou n ties, cities o r to w n s .
“
o n b a n k a n d tru st co . s to c k s
d e p o s ito r s ’ b o o k s .
real estate
“ p erson a l s e cu rity
B a n k b u ild in g a n d fixtu res .
R e a l e sta te b y fore clo s u re , e tc.
S to c k s , b o n d s, e tc ., tak en t o secure
in d eb ted n ess
.
D e p o s its in b an k s, on in terest
Cash o n h a n d
.
.
.
.

$70,470
74,677
9,000
3,000
6,160
9,875
73,020
458
400
150,772
9,670
5,948
7,187

60
50
00
00
00
00
00
28
00
39
00
22
11

D e p o s its .
.
S urplus:
G u a r a n ty fu n d
P ro fit a n d loss

L iabilities
.
.

.

2 0,255 00
2 5,053 06

4,900 00
14,033 16
1,247 93
$440,820 19

$440,820 19

Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or tow ns
Bonds and notes which are not now
investm ents
.
.
.
.

.
.
.

$65,500
63,000
9 ,000
3 ,000
7,000
7 3,050

legal
.

Shs.
Bank and Trust Company Stocks
18 State National Bank, Boston
30 Franklin National Bank, Franklin
20 Blue Hill National Bank, Milton
29 Fram ingham N ’l B’k, So. Fram ingham

00
00
00
00
00
00

of

L oans

5i

6

“
“

Totals

“
“

O c t . 31, 1908,

Loans on Real
Estate

R ate

3^ per cent.
3| “
“
4
“
“
4* “
“
5
“
“

on

.

.

.

.

.

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$65,470
61,947
9 ,000
3 ,000
6,160
73,020

60
50
00
00
00
00

18,370 00

17,730 00

$235,071 25

$ 2 3 6,328 10

$1,800
3,000
2,000
2,900

b e a r in g

00
00
00
00

-

-

—

$2,610
3,510
2,500
3 ,770

00
00
00
00

$1,800
3,000
2,000
3 ,0 7 5

$12,390 00

-

Other Loans

00
00
00
00

$9,875 00

E a c h S p e c if ie d R a t e

Loans on Personal
Security

-

—

•

.

00
00
00
00
25
00

19,000 00

_
.

$65,420
60,010
8 ,980
2,940
6,326
73,025

Book Value

$239,550 00

$9,700 00

T otal A m ount

$ 395,512 13

of

Interest

Total Loans

»

$7,970
2 ,0 0 0
6 0 ,050
3 ,0 0 0
458

00
00
00
00
28

$ 7,970
2 ,000
6 0,050
3 ,0 0 0
76 ,1 1 8
6 ,825
7 8,357

00
00
00
00
28
00
39

$72,010 00
6 ,825 00
71,937 39

$ 3,650 00

$150,772 39

$9,670 00

$ 73,878 28

$234,320 67

5 .4 9 per cent.

5 .6 2 per cent.

3 .9 7 per cent.

5 .0 2 per cent.

—

6,020 00

-

40 0 00

[Pub. Doc.

R E PO R T OF THE

130

Holliston Savings Bank — Concluded
T otal E xpen ses

for

Salaries

Y

e a r , e x c l u s iv e

A-mount paid for
$1,423 33
% of total assets .3 2 2 8 of 1 %

Ca s h o n D e p o s i t i n B a n k s
N ational Shawmut Bank, Boston
Fram ingham National Bank, So.
Fram ingham
.
.
.

8 ,1 2 8 01

and

Total
$1,882 19
. 4268 of 1 %

F ix t u r e s
$ 5,948
6,300
6,300
135

D e p o s it A cc ou n ts
N um ber opened during year
N um ber closed
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

$5 ,9 0 5 15

M is c e l l a n e o u s
N um ber of corporators, 4 2 ; trustees, 24
Gross income rec’d during year . $19,556 31
S tate ta x (net) paid “
“
.
1,023 65

Other Expenses
$158 86
.0 3 6 0 of 1 %

B a n k B u il d in g
B ook value
Estim ated value
Assessed value .
Net income

D iv i d e n d s d e c l a r e d d u r i n g Y e a r
D ec., 1907, 2 %
. $7,613 41
June, 1908, 2 %
. 7,558 33 $15,171 74

of

St a t e T a x e s

$300 00
.0 6 8 0 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r i n g Y e a r
. $53,2 5 2 72
A m ount of deposits .
920
N um ber of same
. $69,895 09
A m ount of withdrawals
1,175
N um ber of same
.
$ 1,470 63
N et decrease in deposits

D ate

of

Advertising

Rent

22
00
00
05

118
133
1,206
$327 95

S t a t is t ic s o f L o a n s
246
N o. not exceeding $ 3,000 each
$218,320 67
Am ount of same
168
N o. of loans on real estate .
$897 45
Average am ount of same
Am ount loaned on real estate
$ 7 ,367 39
during year
N o. of new real estate loans
12
made during year .

E x a m i n a t i o n , October 30

HOLYOKE SAVINGS BANK, HOLYOKE
President, W

W h it in g
Treasurer, C h a r l e s W . J o h n s o n
Clerk of the Corporation, A l b e r t G. M a g n a

il l i a m

Board of Investment:

W

W h it in g , R o b e r t R
M a r d e n W . P r e n t is s

il l i a m

J a m e s A . Cl o u g h ,

ussell,

Incorporated Feb. 21, 1855. Open for business every business d ay, except Saturdays,
9 a .m . to 4 p .m .; Thursdays, 7 to 8 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the third M onday of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L ia b il it ie s

ssets

P u b lic fu n d s
.
.
.
. $495,082
R a ilr o a d b on d s .
.
.
. 1,893,778
259,200
S treet ra ilw a y b on d s
4 5,000
T e le p h o n e c o m p a n y b o n d s
.
189,428
B a n k a n d tru st c o m p a n y s to c k s
149,845
L o a n s t o cou n ties , cities o r to w n s .
4 4,894
“
“ ra ilroa d com p a n ie s
25,000
“
on ra ilroa d b on d s
7,500
“
“ ra ilroa d s to c k s
2,500
“
“ b a n k a n d tru st co . sto c k s
400
“
“ d e p o s ito r s ’ b o o k s .
2 ,207,310
“
“ real esta te
853 ,21 5
“
“ p erson a l s e cu rity
S to c k s, b o n d s , e tc ., ta k e n t o secure
1,718
in d eb ted n ess
.
.
.
.
4,500
F u rn itu re a n d fixtures
256,209
D e p o s its in b an k s, on in terest
21,290
Cash o n h a n d
.
.
.
.
150
C hecks a n d cash item s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

50
75
00
00
00
00
00
00
00
00
00
00
00

.$ 5 ,9 8 1 ,8 5 0 33

D e p o s its .
S urplus:
G u a r a n ty fu n d
P ro fit a n d loss

In te re s t, ren ts, e t c .

.

3 03,400 00
59,383 6S

$116,633 44

L ess cu rren t

E xpenses .

.

4,246 29

112,387 15

75
00
01
15
00

$6,457,021 16

$6,457,021

16

No. 8]

BANK COMMISSIONER

131

Holyoke Savings Bank — Continued
Schedule op Securities Owned

Estimated
Market Value

Par Value

Public funds
.
.
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.

8383,000
1,795,000
145,000
50,000
150,000

Shs.
Bank and Trust Company Stocks
14 First National Bank, Adam s
20 Greylock National Bank, Adam s
50 First National Bank, Am herst .
20 Millers R iver National Bank, A thol .
19 Conway National Bank, Conway
21 First National Bank, Eastham pton .
15 Fitchburg S. D . & T . Co., Fitchburg .
5 First National Bank, Greenfield
48 Franklin Co. N ’l Bank, Greenfield
38 City National Bank, H olyoke .
2 36 H a d ley Falls N ’l Bank, H olyoke
390 H olyoke National Bank, H olyoke
7 1 /H o m e National Bank, Holyoke
5 Union National Bank, Lowell .
25 Monson National Bank, Monson
5 First National Bank, Newburyport .
90 First National Bank, Northam pton .
37 Hampshire Co. N ’l B ’k, Northam pton
50 Northam pton N ’l B ’k, Northam pton .
38 Palmer National Bank, Palmer
6 Pittsfield National Bank, Pittsfield
117 Chicopee National Bank, Springfield .
31 Springfield National B ’k, Springfield .
2 15 Third National Bank, Springfield
97 Townsend National Bank, Townsend .
26 W are National Bank, W are
4 First National Bank, W estfield

00
00
00
00
00

8377,470
1,721,340
149,022
45,187
150,500

otal

A

m ount of

L

oans on

T otals

ct.

31, 1908,

Loans on Real
Estate

Rate

3 .4 0 per cent.
3^
“
“
3f
“
“
3 .7 0 “
“
3 .8 5 “
“
H
“
“
4
“
“
4i
“
“
4 .4 0 “
“
4*
“
“
4f
“
“
5
“
“
5*
“
“
5b
“
“
5f
“
“
6
“
“

O

401,531 50

402,8 8 4 00
82,892,800 25

81,400
2,000
5,000
2,000
1,900
2,100
1,500
500
4,800
3,800
23,600
39,000
7,100
500
2,500
500
9 ,000
3,700
5,000
3,800
600
11,700
3,100
21,500
9 ,700
2,600
400

$1,610
3,700
5,500
3,400
1,900
2,100
1,875
750
4,800
4,560
32,568
70,200
8 ,875
850
3,000
550
11,700
3,811
10,000
3,800
960
17,550
6,510
43,000
12,125
2,860
540

$1,400
2,000
5,000
2,000
1,800
2,000
1,500
500
4,800
3,790
26,668
3 9,000
7,100
500
2,500
500
10,000
3,700
8,700
3,600
570
14,000
3,100
32,000
9,700
2,600
400

b e a r in g

E

Loans on Personal
Security

-

-

-

380,500 00

-

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

—
-

-

-

.

-

-

—
$17,000 00

1,778,310 00
—
3 1,500 00
-

50
75
00
00
00

$2,845,051 00

—

.
.

$381,082
1,768,788
145,000
45,000
149,845

8 2,931,400 00

-

.
.

00
00
00
50
00

408,000 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$169,300 00

T

Book Value

-

$149,920
138,800
198,495
102,000
100,700
12,500
150,800

00
00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

8259,094 00

ach

S p e c if ie d R

Other Loans

$10,000
2,000
9 ,000
2 0,000
20,000
12,500
16,345
4,000
15,000
60,000
3,500
20 ,2 9 4
25,000

00
00
00
00
00
00
00
00
00
00
00
00
00
-

12,500 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$189,428 00

ate

of

In

terest

Total Loans

$10,000
2 ,000
9 ,000
2 0,000
20,000
12,500
16,345
2 1,000
15,000
590,420
142,300
1,997,099
127,000
132,200
12,500
163,300

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$ 2 ,2 07,310 00

$853,215 00

$230,139 00

$ 3 ,2 9 0 ,6 6 4 00

4 .9 1 per cent.

5 .1 4 per cent.

4 .4 1 per cent.

4 .9 4 per cent.

[Pub. Doc.

REPORT OF THE

132

Holyoke Savings Bank — Concluded
T otal E xpen ses

Salaries
Am ount paid for
$8,988 62
% of total assets . 1392 of 1 %

for

Y

e a r , E X C L U S IV E

Rent
$1,200 00
.0 1 8 5 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
$1,1 1 3 ,3 2 8 56
A m ount of deposits .
2 3,033
N um ber of same
$ 1 ,3 22,183 30
Am ount of withdrawals
18,607
N um ber of same
. $16,103 86
N et increase in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
$112,013 18
July, 1908, 2 % .
. 112,945 42 $ 2 2 4,958 60
C a s h o n D e p o s it i n B a n k s
$ 46,768 03
International Tr. Co., Boston
N ational Shawmut B ’lc, Boston .
70,398 74
17,152 98
City National Bank, H olyoke
15,138 45
H adley Falls N ’l Bank, H olyoke .
75,401 83
H olyoke National Bank, H olyoke
10,301 07
H om e National Bank, H olyoke .
5,000 00
First N ’l Bank, N ortham pton
5 ,352 36
N ’ham pton N ’l B ’k, N ’ ham pton .
Springfield S. D . & T . Co., Spring10,695 55
field
.
.
.
.
.

OF

St a t e T a x e s

Other Expenses

Advertising
$49 90
.0 0 0 7 of 1 %

Total
$12,610 01
1951 of 1 %

$2,371 49
.0 3 6 7 of 1 %

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

2,292
2,617
13,990
$427 58

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
270
A m ount of same
.
. $369,600 00
N o. of loans on real estate .
445
Average amount of same
.
$ 4,960 24
A m ount loaned on real estate
during year
.
.
. $ 1 8 0,425 00
N o. of new real estate loans
made during year .
.
48
Date

of

E x a m i n a t i o n , October 22

M is c e l l a n e o u s
N um ber of corporators, 6 6 ; trustees, 20
Gross income rec’d during year . $298,479 30
State ta x (net) paid “
“
.
17,967 84

HOME SAVINGS BANK, BOSTON
President, G e o r g e E . B r o c k
Treasurer, C h a r l e s S. N o r r is
Clerk of the Corporation, C h a r l e s S. N o r r is
Board of Investment:

H

e n r y C. J a c k s o n , J. H e n r y R u s s e l l , C h a r l e s F . C u t l e r ,
I ra G. H er sey, R o bert B atcheller

Incorporated March 17, 1869. Open for business every business day, 9 a .m . to 2
also Saturdays, 4 to 7 p .m . for deposits only, except during July and August

p .m .;

Deposits commence to draw interest the tenth day of January, April, July and October
Dividends are payable the third W ednesday of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L

ssets

. $440,454
Public funds
.2,014,685
Railroad bonds .
. 200,000
Street railway bonds
30,000
Boston Terminal Company bonds .
Bank and trust company stocks . 125,000
Loans to counties, cities or towns . 203,000
“
“ railroad companies
. 200,000
“
on railroad bonds
4,500
2.500
“ bank and trust co. stocks
5,619,432
“ real estate
3,354,900
“ personal security
Real estate in possession
21,376
2.500
Premiums .
.
.
.
Deposits in banks, on interest
373,933
10,528
Cash on hand
1,704
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

37
75
00
00
00
00
00
00
00
25
00
02
00
41
49
50

$12,604,514 79

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

ia b il it ie s

$11,563,613 05
.
.

566,000 00
389,697 49

. $88,115 50
2,911 25

85,204 25

$12,604,514 79

BANK COMMISSIONER

No. 8]

133

Home Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Term inal Company bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investm ents
.
.
.
.

Shs.
50
125
200
200
50
125
200
400
75
25

Estimated
Market Value

Par Value

Schedule of Securities Owned

$4 3 7 ,2 7 4
2 ,0 3 1 ,3 6 6
200,000
3 0,000
203,000
200,000

.
.
.

legal
.

37
50
00
00
00
00

$448,847
2,097 ,8 1 9
2 09,335
2 9,400
203,000
200,000

L oans

3,570 00

3 ,500 00

$3,191,971 89

$3,0 8 8 ,1 4 0 12

$7,000
39,250
43,400
10,000
5,100
20,000
28,000
86,000
10,875
3 ,625

$5,000 00
12,500 00
2 0,000 00
-

5,000
12,500
20,000
4 0,000
7,500
2 ,500

T otals

O c t . 31, 1908,

Loans on Real
Estate

Rate

3 per cent.
3Ì “
“
4
“
“
4i “
“
4Ì “
“
H
4§ “
“
4i “
“
4 .5 5 “
“
4f “
“
5
“
“
5i “
“
54 “
“
6
“
“
64 “
“
6-f “
“

on

.
.
.
.
.
.

.
.
.
.
■
.
.

00
00
00
00
00
00

-

9 6,000 00
105,000 00
-

1,840,350 00
—

.
.
.
.
.
.
.

.

Average rate

.
.
.
.
.

21,000
2 ,1 0 8 ,8 8 2
4,000.
7 4,350
29 ,2 5 0

00
25
00
00
00

00
00
00
00
00
00
00
00
00
00

$5,000 00
12,500 00
2 0 ,000 00
5,000 00
12,500 00
20,000 00
4 0 ,000 00
7,500 00
2 ,5 0 0 00

$253,250 00

$125,000 00

E a c h S p e c if ie d R

$ 20,000 00
—
283,000 00
100,000 00
1,138,000 00

ate of

Total Loans

Other Loans

_

$20,000
2 ,000
1 ,641,600
100,000
1 ,309,000
105,000
75,000
3 ,1 5 1 ,8 5 0
4 0,000
225,9 0 0
2 ,2 6 8 ,3 8 2
14,000
74,3 5 0
229,2 5 0
8 ,000
120,000

-

„ $20,000 00
-

75,000 00

-

-

75,000 00
1,259,000 00
204,900 00
155,000 00

I nterest

-

52,500 00
40,000 00
—

00
00
00
00
00
00
00
00
00
00
25
00
00
00
00
00

120,000 00

4,500 00
10,000 00
200,000 00
8 ,0 0 0 00
-

$5,6 1 9 ,4 3 2 25

$ 3 ,3 54,900 00

$410,000 00

$9,3 8 4 ,3 3 2 25

4 .5 8 per cent.

4 .4 7 per cent.

5 .2 3 per cent.

4 .5 9 per cent.

-

-

-

-

T otal E x pen ses
Salaries
Am ount paid for
$ 20,083 33
% of total assets .1 5 9 3 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

b e a r in g

Loans on Personal
Security

$2,000 00
1 ,338,600 00

37
75
00
00
00
00

3 ,500 00

$125,000 00

of

$43 6 ,9 5 4
2 ,0 1 4 ,6 8 5
200,000
30 ,0 0 0
2 03,000
2 00,000

39
50
00
00
00
00

$3,1 0 5 ,1 4 0 87
Bank and Trust Company Stocks
Atlantic National Bank, Boston
First National Bank, Boston
Merchants National Bank, Boston
N ’l B ank of the Republic, Boston
N ’l Market B ’k of Brighton, Boston .
National Union Bank, Boston .
New England N ’l Bank, Boston
Second National Bank, Boston
State National Bank, Boston
W ebster & Atlas N ’l Bank, Boston

T otal A m ount

Book Value

for

Y

e a r , e x c l u s iv e

Rent
$12,000 00
0952 of 1 %

of

Advertising
$637 66
.0 0 5 1 of 1 %

State T a x e s
Other Expenses
$7,173 86
.0 5 6 9 of 1 %

Total
$ 3 9 ,8 9 4 85
.3 1 6 5 of 1 %

134

REPORT OF THE

[Pub. Doc

Home Savings Bank — Concluded
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
$2,738,431 60
N um ber of same
28 ,2 0 4
A m ount of withdrawals
$2,282,521 72
N um ber of same
2 3 ,197
N et increase in deposits
. $ 8 6 9,917 26
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$201,971 56
O ct., 1 9 0 8 ,2 %
. 2 1 2 ,0 3 5 82 $414,007 38
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $ 1 2 1,518 81
City Trust Co., Boston
.
. 2 5 2 ,4 1 4 60
M is c e l l a n e o u s
N um ber of corporators, 3 7 ; trustees, 35
Gross income rec’d during year . $ 5 9 0,030 60
State ta x (net) paid “
“
.
2 8,497 09

D e p o s it A cc o u n ts
N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

4,268
2,661
32,153
$359 63

St a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,000 each
137
A m ount of same
.
. $2 5 9 ,1 2 5 00
N o. of loans on real estate .
483
Average am ount of same
. $ 1 1 ,6 3 4 43
A m ount loaned on real estate
during year
.
.
. $ 8 7 5,007 25
N o. of new real estate loans
made during year .
.
84
Date

of

E x a m i n a t i o n , July 2 3 , 24

HOOSAC SAVINGS BANK, NORTH ADAMS
President, O. A . A r c h e r
Treasurer, W . W . R
Clerk of the Corporation, H . E . W e t h e r b e e

ic h m o n d

Board of Investment: S. H . F a i r f i e l d , E . B i s s a i l l o n , W . W . B u t l e r
Incorporated April 19, 1871. Open for business every business day, except Saturdays,
9 a .m . to 4 p .m .; Saturdays, 9 a .m . to 2 p .m .
Deposits commence to draw interest the first day of March, June, September and
December. Dividends are payable the first day of June and December

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

ssets

Public funds
Railroad bonds
Telephone company bonds
Loans on railroad bonds
depositors’ books .
“ real estate
personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
in possession
Premiums .
.
.
.
Suspense account
Deposits in banks, on interest
not on interest
Cash on hand
Checks and cash items

.
.
.

$25,000
345,046
13,575
215
765
. 679,316
. 146,120
. 100,000
.
74,245
1,737
7,896
947
4,840
6.796
838
1,739

ia b il it ie s

o
00
©

05
O

D e p o s i t s ............................................ $1,300,469 96
Surplus:
Guaranty fund
.
.
.
51,164 44
Profit and loss
.
.
.
2,446 03

43

$1,409,080 43

Schedule of Securities Owned

Public funds
Railroad bonds
.
.
.
.
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
Bank and Trust Company Stocks
53 Berkshire National Bank, N o. A dam s .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L

00
88
00
00
00
55
31
00
22
31
25
05
68
64
63
91

Bills payable

55,000 00

Estimated
Market Value

Book Value

$ 10,000 00
351,000 00
15,000 00

$9 ,5 1 6 25
318,297 50
13,556 25

$10,000 00
345,0 4 6 88
13,575 00

15,000 00

15,900 00

15,000 00

$391,000 00

$357,270 00

$383,621 88

Par Value

—

$132 50

“

BANK COMMISSIONER

No. 8]

135

Hoosac Savings Bank — Concluded
T otal A m ount

of

L oans

O c t . 31, 1908,

Loans on Real
Estate

R ate

5 per cent.
5^ “
“
6
“
“
T otals

on

.

.

.

Average rate

b e a r in g

Loans on Personal
Security

$ 2 6 5,818 00
8,000 00
4 05,498 55

$765 00

104,080 57

215 00

Total Loans

$308,622 74
8 ,000 00
509,7 9 4 12

$679,3 1 6 55

$146,120 31

$980 00

$826,416 86

5 .7 1 per cent.

5 .0 1 per cent.

5 .6 2 per cent.

for

Y

e a r , e x c l u s iv e

Salaries
A m ount paid for
$4,900 00
% of total assets .3 4 5 9 of 1 %

Rent
$1,000 00
.0 7 0 5 of 1 %

D e p o s it s a n d W it h d r a w a l s
Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

d u r in g

Y ear
$279,120 58
4,280
$409,842 22
4 ,506
$82,782 14

D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, l \ %
. $23,0 1 4 28
June, 1908, 2 %
. 24,9 2 5 22 $47,939 50

C a s h o n D e p o s it i n B a n k s
Second National Bank, Boston .
N orth A dam s N ’l Bank, N . A dam s
Berkshire L . & T . Co., Pittsfield .

$3,933 18
907 50
6,796 64

M is c e l l a n e o u s
N um ber of corporators, 2 0 ; trustees, 15
Gross income rec’d during year . $63,893 58
State ta x (net) paid “
“
.
2 ,532 80

of

Other Loans

$42,039 74

I nterest

ate of

5 .6 0 per cent.

T otal E x pen ses

D ate

E a c h S p e c if ie d R

of

St a t e T a x e s

Advertising
$555 18
.0391 of 1 %

Other Expenses
$724 10
.0 511 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$7,179 28
.5 0 6 6 of 1 %

F ix t u r e s
. $ 100,000 00
.

120,000 00

.

9 1 ,500 00
3 ,3 9 6 42

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

855
998
4,540
$286 45

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
373
Am ount of same
.
. $ 4 2 3,088 62
N o. of loans on real estate .
315
Average amount of same
.
$ 2 ,180 37
Am ount loaned on real estate
during year
.
.
. $24,200 00
N o. of new real estate loans
made during year .
.
8

E x a m i n a t i o n , February 5, 6

HOPKINTON SAVINGS BANK, HOPKINTON
President, W

il l i a m

A . F r a il
Treasurer, F r e d A . W
Clerk of the Corporation, F r e d A . W o od

o od

Board of Investment: W . A . F r a i l , M. V . P h i p p s , J. D . S t e w a r t , J. B . M o o r e ,
W . C. P i e r c e , W . A . W o o d
Incorporated March 23, 1867. Open for business every business day, except W ednesdays
and Saturdays, 9 a .m . to 2 p .m .; W ednesdays and Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first Saturday of February, M ay, A ugust and
Novem ber. Dividends are payable the first Saturday of M ay and N ovem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

REPORT OF THE

136

[Pub. Doc,

Hopkinton Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
“
“ railroad companies
“
on depositors’ books .
“
“ real estate
“
“ personal security .
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
mortgaged properties
Deposits in banks, on interest
“
“
“
not on interest .
Cash on hand
.
.
.
.

$55,000
161,718
12,775
33,411
800
5,000
575
97,876
12,540
36,474

00
75
00
50
00
00
00
00
00
40

77
9,123
1,000
757

85
98
00
05

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

.

21,152 72
11,926 25

$427,129 53

$427,129 53

S chedule

Par Value

S ecurities O wned

op

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
. ■

$ 55,000
152,000
8,000
800

.
.
.

00
00
00
00

L oans

4 per cent.
4^ “
“
4f “
“
5
“
“

.

.

.

.

5*

•

“
“

T otals

“
“

.

Average rate

O c t . 3 1 , 1908,

Loans on Real
Estate

R ate

6

on

;


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 8,000
13,500
3 ,500
29 ,7 5 0
15,000
2 8 ,1 2 6

Book Value

$54,062
145,817
8 ,0 0 5
800

$55,000
151,718
7,800
800

50
50
00
00

00
75
00
00

2 0 ,000 00

19,300 00

19,975 00

$235,800 00

$ 2 2 7,985 00

$235,293 75

$1,000
5,000
5,000
1,500
2 ,500

00
00
00
00
00
-

2 ,800
500
1,000
2 ,500
500

00
00
00
00
00
-

2 ,000 00
$ 24,300 00

of

Estimated
Market Value

legal

Shs. Bank and Trust Company Stocks
10 Greylock National Bank, Adam s
50 Atlantic National Bank, Boston .
50 Commonwealth Trust Co., Boston
15 Faneuil H all National Bank, Boston .
25 First National Bank, Boston
15 National Bank of the Republic, Boston
28 National Shawmut Bank, Boston
5 State National Bank, Boston
10 W ebster & A tlas N ational Bank, Boston
2 5 Franklin National Bank, Franklin
5 N atick National Bank, N atick .
54 Quinsigamond N ’l Bank, W orcester
20 W orcester National Bank, W orcester .

T otal A m ount

$394,050 56

b e a r in g

$1,850
7,000
7,750
2,070
7,850
750
8,120
725
1,450
2 ,9 2 5
875
810
3,900

00
00
00
00
00
00
00
00
00
00
00
00
00

$46,0 7 5 00

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$800 00

'

$1,500
6,250
7,500
1,950
2 ,750
4,200
500
1,187
2 ,750
500
4 04
3,920

00
00
00
00
00
00
00
50
00
00
00
00

$33,411 50

ate of

I n terest

Total Loans

$8,800
13.500
13.500
3 5 ,250
15,000
30,741

00
00
00
00
00
00

00
00
00
00
00
00

$10,000 00
500 00
2 ,0 4 0 00

575 00

$ 9 7 ,8 7 6 00

$12,540 00

$ 6,375 00

$116,791 00

5 .2 0 per cent.

4 .9 6 per cent.

4 .9 6 per cent.

5 .1 6 per cent.

5,000 00

BANK COMMISSIONER

No. 8]

137

Hopkinton Savings Bank — Concluded
T otal E x pen ses

Salaries
A m ount paid for
$1 ,8 7 5 00
% of tota l assets .4 3 8 8 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$275 00
.0 6 4 3 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits
.
.
. $ 43,353 78
N um ber of same
.
.
.
697
Am ount of withdrawals
.
. $82,190 51
N um ber of same
.
.
.
1,008
N et decrease in deposits
.
. $24,0 7 5 13
D iv i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, l f %
. $6,982 65
M ay, 1908, 2 %
.
7,778 95 $14,761 60
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $5,323 97
H opkinton N ’l Bank, Hopkinton
4,800 01
M is c e l l a n e o u s
N um ber of corporators, 3 0 ; trustees, 14
Gross income rec’d during year
. $18,262 64
State ta x (net) paid “
“
.
1,190 18

of

St a t e T a x e s

Advertising

Other Expenses

$6 00

$112 00

.0 0 1 4 of 1 %

.0 2 6 2 of 1 %

Total
$ 2,268 00
.5 3 0 7 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

87
109
1 ,284
$306 89

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
A m ount of same
$60,8 7 6
N o. of loans on real estate .
Average am ount of same
$ 1,087
A m ount loaned on real estate
during year
$4,550
N o. of new real estate loans
made during year
D ate

of

81
00
90
51
00
7

E x a m i n a t i o n , N ovem ber 2

HUDSON SAVINGS BANK, HUDSON
President, G e o r g e B . C o c h r a n
Treasurer, D a n i e l W . S t r a t t o n
Clerk of the Corporation, F r e d O . W e l s h
Board of Investment:

G e o r g e B . Co c h r a n , J o h n H . R
C h a r l e s J. S a w y e r

o b in s o n ,

G e o r g e A . T r ip p ,

Incorporated Feb. 26, 1869. Open for business every business day, 9
1.30 to 4.30 p .m .; also 6 to 8 p .m . Saturdays

a .m .

t o 12

m .,

Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable Thursday following third W ed nesd ay of January
and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
.
.
.
$194,000 00
Railroad bonds .
.
.
.
416,500 00
Street railway bonds .
.
.
69,700 00
Boston Terminal Company bonds .
20,000 00
Telephone company bonds .
.
17,400 00
Bank and trust company stocks
.
6,500 00
Loans to counties, cities or towns .
39,900 00
“
on bank and trust co. stocks
1,100 00
“
“ real estate
$770,280 00
Less, due on mtge. loans 1,388 60 768,891 40
Loans on personal security .
.
6,125 00
Bank building and fixtures .
.
43,500 00
Real estate by foreclosure, etc.
.
2,284 66
Taxes, insurance, etc., paid on
mortgaged properties
.
.
2,246 60
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
100 00
Deposits in banks, on interest
.
39,121 05
Cash on hand
.
.
.
.
1,823 59
Checks and cash items
.
.
285 63


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,629,477 93

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

Interest, rents, etc.
Less current
Expenses .

.$1,544,531 64
62,900 00
16,839 51

.

$6,079 41
872 63

5,206 78

$1,629,477 93

REPORT OF THE

138

[Pub. Doc,

Hudson Savings Bank — Concluded

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

$179,000
3 95,000
3 0 ,000
2 0,000
2 0,000
3 9,900

.
.
.

legal
.

Shs.
Bank and Trust Company Stocks
65 Hudson National Bank, Hudson

T otal A m ount

of

L oans

3^ per cent.
4
“
“

.

Ì
5
5Ì

“

“

.
.

6
7

“
“

“
“

.
.

.

“

“

.

.

“

7

i

O c t . 31, 1908,

Loans on Real
Estate

R ate

4

on

00
00
00
00
00
00

$178,040
393,640
3 0,700
19,600
18,075
3 9,610

.

Average rate

$493,3 7 5
243,201
31 ,1 1 5
450
750

79,650 00

79,500 00

$ 7 5 9,315 75

$757,500 00

$6,500 00

$ 9,425 00

$6,500 00

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

00
40
00
00
00

00
00
00
00
00
00

ate of

Other Loans

I nterest

Total Loans

$26,400
9 ,0 0 0
4 ,500
493,3 7 5
249,851
31,690
450
750

00
00
00
00
40
00
00
00

$ 6,050 00
75 00

600 00
500 00

$768,891 40

$6 ,1 2 5 00

$41,000 00

$ 8 1 6,016 40

5 .2 0 per cent.

5 .5 1 per cent.

3 .7 8 per cent.

5 .1 3 per cent.

Salaries
Am ount paid for
$3 ,2 9 5 00
% of total assets .2 0 2 2 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$500 00
.0 3 0 6 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits
.
.
. $ 2 6 1 ,5 1 5 00
N um ber of same
.
.
.
4 ,0 1 8
Am ount of withdrawals
.
. $ 3 7 2 ,6 4 7 49
N um ber of same
.
.
.
5,099
N et decrease in deposits
.
. $ 5 2 ,3 1 4 51
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $ 2 9 ,6 9 6 37
July, 1908, 2 % .
. 29,1 21 61 $ 58 ,81 7 98
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $12 ,96 1 76
H udson National Bank, Hudson .
2 6,1 59 29
M is c e l l a n e o u s
N um ber of corporators, 4 0 ; trustees, 19
Gross income rec’d during year . $ 7 6 ,5 8 6 67
State ta x (net) paid “
“
.
3 ,5 5 4 54
E x a m i n a t i o n , February 18


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$179,000
3 92,000
29,700
2 0,000
17,400
39,900

$26,400 00
9 ,0 0 0 00
4 ,500 00

T otal E x pen ses

of

00
00
00
00
00
75

8 0,000 00

.

.

Book Value

$763,900 00

“

T otals

D ate

Estimated
Market Value

Par Value

Schedule op Securities Owned

of

St a t e T a x e s

Advertising
$16 25
0010 of 1 %

Other Expenses
$268 80
.0 1 6 5 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Tota
$4,080 0 5
.2 5 0 4 of 1 %

F ix t u r e s
. $43,500
.
4 3,500
.
36,600
1,999

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

00
00
00
36

613
740
5,142
$300 37

S t a t is t ic s o f L o a n s
No. not exceeding $ 3,000 each
388
Am ount of same
.
. $414,755 00
N o. of loans on real estate .
425
Average amount of same
.
$1,809 15
Am ount loaned on real estate
during year
.
.
. $51,861 40
N o. of new real estate loans
made during year .
.
40

BANK COMMISSIONER

No. 8]

139

HYDE PARK SAVINGS BANK, HYDE PARK
President, R

B l e a k ie
Treasurer, A r t h u r H . B u r t
Clerk of the Corporation, A r t h u r H . B u r t

obert

Board of Investment: R o b e r t B l e a k i e , D a v i d P e r k i n s , F r e d e r i c k N . T i r r e l l ,
H e n r y S. B u n t o n , F r a n k l i n C. G r a h a m
Incorporated March 8, 1871. Open for business every business day, 11
also Saturdays, for deposits only, 6 to 8 p .m .

a .m .

to 4

p .m .;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifteenth day of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
AbSLTS
Railroad bonds .
.
.
.
Street railway bonds .
.
.
Telephone company bonds .
.
Bank and trust company stocks .
Loans to counties, cities or towns .
“
“ railroad companies
.
“
on bank and trust co. stocks
“
“ depositors’ books .
.
“
“ real estate
$789,280 00
Less, due on mtge. loans
771 22
Loans on personal security .
.
Bank building and fixtures .
.
Real estate by foreclosure, etc.
.
Taxes, insurance, etc., paid on
mortgaged properties
.
.
Deposits in banks, on interest
.
Cash on hand
.
.
.
.
Checks and cash items
.
.

L ia b il it ie s

$42,340
311,587
21,000
18,100
10,600
18,000
50,000
4,300
1,390

50
50
00
00
00
00
00
00
00

788,508
172,775
4,000
15,657

78
00
00
92

83
51,076
3,506
6,297

79
83
20
77

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$1,383,632 86
69,459 98
43,783 88

Interest, rents, etc.
Less current
Expenses .

. $23,575 71
1,228 14

$1,519,224 29

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.

.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$44,000
292,000
12,000
20,000
18,000
50,000

00
00
00
00
00
00

Estimated
Market Value

Book Value

$42,697
295,130
12,000
18,075
18,000
5 0,375

$42,340
289,587
12,000
18,100
18,000
50,000

50
00
00
00
00
00

50
50
00
00
00
00

legal

Shs.
Bank and Trust Company Stocks
10 First National Bank, Boston
20 Merchants National Bank, Boston
31 National Bank of Commerce, Boston .
19 National Bank of the Republic, Boston
6 Second National Bank, Boston .
25 State National Bank, Boston
14 hirst National Bank, Newburyport
\

$1,519,224 29

Par Value

Schedule or Securities Owned

22,347 57

34,000 00

33,190 00

31,000 00

$470,000 00

$469,467 50

$461,028 00

$1,000 00
2,000 00
3,100 00
600 00
2,500 00
1,400 00
$10,600 00

00
00
00
00
00
00
00

$1,000 00
2,000 00
3,100 00

$19,845 00

$10,600 00

$3,140
4,340
4,960
950
1,290
3 ,6 2 5
1,540

600 00
2,500 00
1,400 00

140

RE PO R T OF THE

[Pub. Doc.

Hyde Park Savings Bank — Concluded
T

otal

A

m ount of

L

ct

44 per cent.
5" “
“
54 “
“
6“ “
“

.
.
.

T

E

otal

W

iv id e n d s

Jan., 1908, 2 % .
July, 1908, 2 % .
C ash

on

D

in

Other Loans

of

In

terest

Total Loans

$ 1 7 2,775 00

$73,690 00

$ 1 ,0 34,973 78

5 .2 2 per cent.

5 .0 7 per cent.

5 :3 8 per cent.

5 .2 1 per cent.

xpen ses

for

d u r in g

.

ear

,

e x c l u s iv e

Y

Y

ear

$51,679 32

anks

$6,953
19,471
6,287
18,365

11
34
13
25

is c e l l a n e o u s

N um ber of corporators, 3 2 ; trustees, 15
Gross income rec’d during year . $76,247 22
State ta x (net) paid “
“
.
2 ,9 4 4 43

of

Advertising
$5 00
0003 of 1 %

State

T

00
78
00
00

axes

Other Expenses
$865 85
.0 5 6 9 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

ear

. $299,050 08
7,053
$367,397 67
6,071
$16,668 27

d u r in g

B

Y

Rent
$960 02
.0 631 of 1 %

Commonwealth Tr. Co., Boston .
First National Bank, Boston
.
National Shawmut Bank, Boston
H y de Park N ’l Bank, H y d e Park .
M

Loans on Personal
Security

ate

$788,5 0 8 78

. $25,848 98
. 25,830 3 4

e p o s it

S p e c if ie d R

$16,000
776,0 8 8
4 5,600
197,285

it h d r a w a l s

declared

ach

$43,690 00
4,000 00
2 6,000 00

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits
D

E

$160,400 00
1,400 00
10,975 00

Salaries
A m ount paid for
$ 3,126 96
% of total assets .2 0 5 8 of 1 %

and

b e a r in g

00
78
00
00

.

e p o s it s

31, 1908,

$16,000
571,998
40,200
160,310

.
.
.

Average rate

D

.

Loans on Real
Estate

Rate

T otals

O

oans on

Total
$4,957 83
.3261 of 1 %

F ix t u r e s
.
$ 4 ,0 00 00
.
2 0,000 00
.
2 1 ,5 0 0 00

and

.
.
.

D e p o s it s A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number O ct. 3 1 , 1908 .
Average balance “

652
778
5,6 4 8
$ 2 4 4 97

“ .

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,0 00 each
302
Am ount of same
.
. $ 4 $ 8 ,4 4 5 00
N o. of loans on real estate .
351
Average amount of same
.
$ 2 ,2 4 6 46
Am ount loaned on real estate
during year
.
.
. $ 5 3 ,0 5 0 00
N o. of new real estate loans
made during year .
.
20
D ate

of

E x a m i n a t i o n , June 25

INSTITUTION FOR SAVINGS IN NEWBURYPORT AND ITS
V IC IN IT Y , NEWBURYPORT
President, H

B. L

en ry

Treasurer, W

it t l e

Clerk of the Corporation, G
Board of Investment: H

en ry

T

B. L

hom as

Incorporated Jan. 31, 1820.

it t l e

C. S im

, L

eorge

aw ren ce

pson

, F

ran k

F. A

il l ia m

B

eorge

W .

alch

v e r y

B. C u s h i n g ,
F . M o r r il l

G

Open for business every business day, 8.30

a .m

.

P

ip e r

to 2

p .m

,

.

Deposits commence to draw interest the third W ednesd ay of January, April, July and
October. Dividends are payable the fourth W ednesd ay of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

141

BANK COMMISSIONER

No. 8]

Institution for Savings in Newburyport, etc. — Continued
B

A

alance

Sh

eet

, O

3 1 , 1908

ctober

L ia b il it ie s

ssets

Public funds
$1,938,500
Railroad bonds .
.2,000,532
Bank and trust company stocks . 277,920
Loans to counties, cities or towns .
34,800
railroad companies
.
85,000
“
on bank and trust co. stocks
1,855
“
“ real estate
.1,618,461
“
“ personal security
.1,228,984
Bank building and fixtures .
.
25,000
.
39,643
Real estate by foreclosure, etc.
“
“
in possession
490
Stocks, bonds, etc., taken to secure
7,694
indebtedness
Deposits in banks, on interest
. 107,607
Cash on hand
1,931

00
50
00
00
00
00
00
37
00
28
55

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

. $6,S34,16S 45

.

.
.

2,171 32

Interest, rents, etc.

70
46
28
$7,368,420 14

$7,368,420 14

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

Shs.
100
240
100
173
221
250
208
100
100
520
101
250
225
60
56
1,226
112
23

Bank and Trust Company Stocks
Commonwealth Tr. Co., Boston
Faneuil H all N ’l Bank, Boston
First National Bank, Boston .
Merchants National Bank, Boston .
N ’l B ank of Commerce, Boston
National Shawmut Bank, Boston
National Union Bank, Boston
New England National B ’k, Boston .
Old Boston National Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W ebster & A tlas N ’l B ’k, Boston
Gloucester N ’l Bank, Gloucester
First National Bank, Newburyport .
Merchants N ’l Bank, Newburyport .
Ocean National Bank, Newburyport
W arren National Bank, Peabody

$1,825,500
1,924,532
34,800
75,000

00
50
00
00

otal

A

m ount of

L

oans on

ct.

31, 1908,

Loans on Real
Estate

R ate

3^ per cent.
4
“
“
4Ì “
“

O

.

.

.

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$64,500 00
9 5,000 00

Estimated
Market Value
$1,827,780
1,958,916
34,800
75,000

Book Value

00
99
00
00

$1,820,500
1,924,532
34,800
75,000

00
50
00
00

204,000 00

212,600 00

204,000 00

$4,063,832 50

$ 4,109,096 99

$ 4,058,832 50

$10,000
24,000
10,000
17,300
22,100
25,000
20,800
10,000
10,000
52,000
10,100
8,750
22,500
6,000
5,600
24,520
5,600
2,300

$15,500
33,120
31,400
37,541
35,360
72,500
33,280
14,000
11,100
111,800
14,645
250
32,625
6,000
6,160
30,650
6,720
2 ,334

$10,000
2 4 ,000
10,000
17,300
2 2 ,100
25,000
20,800
10,000
10,000
52,000
10,100
100
22,500
6,000
5,600
24,520
5,600
2,300

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$286,570 00

T

341,000 00
191,080 37

b e a r in g

E

ach

Loans on Personal
Security

-

”

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
50

$494,985 50

S p e c if ie d R

Other Loans

$3,000 00
31,800 00

ate

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$277,920 00

of

In

terest

Total Loans

$ 3,000 00
96 ,3 0 0 00
95 ,0 0 0 00

[Pub. Doc

REPO RT OF THE

142

Institution for Savings in Newburyport, etc. — Concluded
T

otal

A

m ount of

L

ct.

4-^ per cent.
4f “
“
5
“
“
5* “
“
5f “
“
6
6i “
“
6£ “
“
7
“
“

.
•
•
.
.
•
.

$425,4 0 0
2 70,950
711,821
5,850

.

T

otal

E

and

W

D

iv id e n d s

April, 1908, 2 %
O ct., 1 9 0 8 ,2 %

Other Loans

87
00
00
00
00
50
00
00
00

Total Loans

$579,171
495,450
8 4 3 ,6 7 6
321,100
120,000
249,4 0 2
2 5.000
4 1.000
100,000

$11,8 5 5 00

75,000 00

87
00
00
00
00
50
00
00
00

$121,655 00

$ 2 ,9 69,100 37

5 .3 1 per cent.

5 .0 7 per cent.

.
.
.
.
.

for

Y

e a r

,

e x c l u s iv e

Rent
$2 ,3 0 5 32
.0 3 1 2 of 1 %
d u r in g

Y

B

ear

. $645,939 93
.
6,907
. $926,730 36
.
9 ,1 8 4
. $17,867 60

d u r in g

Y

State

of

Advertising
$10 00
.0001 of 1 %
ank

B

T

a xes

D

u il d in g

e p o s it

Total
$11,129 73
.1 5 0 8 of 1 %

Other Expenses
$1,332 15
.0 1 8 0 of 1 %
and

Book value
.
Estim ated value
Assessed value .
A

F

ix t u r e s

.
.
.

. $25,000 00
.
3 5,000 00
. 3 5,000 00

ccounts

Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

ear

$131,212 67
. 131,710 16 $262,922 83

S t a t is t ic s

of

L

1,075
1,184
13,366
$51131

oans

N o. not exceeding $3,000 each
462
A m ount of same
.'
. $430,841 00
N o. of loans on real estate .
487
Average amount of same
.
$3,323 32
A m ount loaned on real estate
during year
.
.
. $108,730 00
N o. of new real estate loans
made during year .
.
57

M is c e l l a n e o u s N um ber of corporators, 8 3 ; trustees, 24
Gross income rec’d during year . $ 3 4 7 ,2 7 9 3 4
State ta x (net) paid “
“
.
2 3 ,5 6 5 0 6
of

'

5 .4 3 per cent.

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
. $ 67 ,62 2 28
First N ’ l Bank, New buryport
.
3 9 ,9 8 5 18

D ate

terest

$ 1 ,2 2 8 ,9 8 4 37

it h d r a w a l s

declared

In

4 .7 7 per cent.

xpen ses

Am ount of deposits .
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et decrease in deposits

ate of

$1,618,461 00

Salaries
Am ount paid for
$7,483 26
% of total assets .1 0 1 5 of 1 %
e p o s it s

$153,771
224,5 0 0
120,000
3 15,250
120,000
129,462
2 5.000
4 1.000
100,000

00
00
00
00

4 4,940 00

.

S p e c if ie d R

ach

Loans on Personal
Security

-

Average rate

D

31, 1908, b e a r i n g E
— Concluded

Loans on Real
Estate

Rate

Totals

O

oans on

E x a m i n a t i o n , March 5, 6

INSTITUTION FOR SAVINGS IN ROXBURY AND ITS
V IC IN IT Y , BOSTON
President, C h a r l e s G a s t o n S m i t h
Clerk of the Corporation, R
Board of Investment: C h a r l e s G

aston

E

Sm

d w in

it h

Treasurer, R
obert

, John

G. M

D. W

obert

G. M

o l in e u x

o l in e u x
il l ia m s

, Ja m

es

A. H

ouston

,

U . C u r t is

Incorporated Feb. 22, 1825. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the third W ednesd ay of January, April, July and
October. Dividends are payable Thursday following the third W ed nesd ay of April
and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

143

BANK COMMISSIONER

No. 8]

Institution for Savings in Roxbury and its Vicinity— Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
Railroad bonds
*Street railway bonds
Boston Terminal Company bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies .
“
on public funds .
“
“ real estate
“
“ personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
Checks and cash items

. $716,000
.4,065,930
. 517,000
. 150,000
. 139,281
.
55,760
.
40,000
. 368,000
5,215
.3,511,403
.1,443,900
. 155,000
.
93,425
. 325,627
.
17,089
5,212

00
00
00
00
25
00
00
00
00
42
00
00
00
33
98
67

$10,951,559 29

Deposits .
Surplus:
Guaranty fund
Profit and loss

.

88,883 37

Interest, rents, etc.

$11,608,844 65

$11,608,844 65

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
. . .

Shs.
50
15
210
21
173
55
39
16
10

Estimated
Market Value

Par Value

Schedule of Securities Owned

$716,000
4 ,0 6 6,000
520,000
150,000
150,000
40,000
218,000

.
.
.

00
00
00
00
00
00
00

L oans

O c t . 31 1908,

Loans on Real
Estate

Rate

3 f per cent.
4
“
“
4i “
“
4f “
“
4* “
“
4f “
“
4f “
“

on

.
•
•
.
•
•


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.

50
00
00
00
50
00
00

$716,000
3,9 9 0 ,0 8 0
517,000
150,000
139,281
40,000
218,000

00
00
00
00
25
00
00

230,000 00

227,200 00

225,850 00

$ 6 ,0 60,000 00

$ 5 ,8 45,145 00

$5,996,211 25

$5,000 00
1,500 00
2 1,000 00
-

17,300
5,500
3,900
560
1,000

00
00
00
00
00

$55,760 00

of

$710,977
3,838 ,1 0 5
527,700
147,000
135,562
40,600
218,000

Book Value

legal

Bank and Trust Company Stocks
Atlantic National Bank, Boston
National Bank of Commerce, Boston .
Peoples National Bank, Boston
NT Bank of the Republic, Boston
National Rockland Bank, Boston
Second National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas National B ’k, Boston

T otal A m ount

555,000 00
13,401 99

$11,000 00
510,000 00
67.500 00
1,302,900 00
2 0,000 00
32 .5 0 0 00

b e a r in g

$7,000
2,400
25,200
1,050
2 8,545
11,825
5,655
16
1,450

00
00
00
00
00
00
00
00
00

$5,000 00
1,500 00
2 1,000 00

$83,541 00

$55,760 00

E a c h S p e c if ie d R

Loans on Personal
Security

$50,0 0 0 00
5 0,000 00
757.0 0 0 00
128.000 00

Other Loans

$1,400 00

-

17,300
5,500
3 ,900
560
1,000

ate of

00
00
00
00
00

I nterest

Total Loans

$11,000
510,000
117.500
5 0 .000
2 ,0 6 1 ,3 0 0
20 .0 0 0
160.500

00
00
00
00
00
00
00

144

R E PO R T OF THE

[Pub. Doc

Institution for Savings in Roxbury and its Vicinity— Concluded
T

otal

A

L

m ount of

oans on

O

ct

.

31, 1908, b e a r i n g E
— Concluded

Loans on Real.
Estate

Rate

Loans on Personal
Security
$35,000
56,600
50.000
2 5.000
186,400
2 8 .000
2,000
900
75,000

4F per cent.
5

“

“

5i
5§
5i
6
6i
7

“
“
“

“
“
“

“

“

“
“
“

“
“
“

7i

T otals

.
.
•
.
.
.
.
.

.
.

$ 1 ,5 07,903 42

.
.
.
.
.

4 5,500 00
14,100 00

.

Average rate

T

otal

E

e p o s it s a n d

W

iv id e n d s

April, 1908, 2 %
O ct., 1908, 2 %
Cash

on

D

in

Total Loans

$35,000
1 .796,978
5 0.000
2 5.000
• 2 33,240
2 20,100
2,000
900
75.000

$232,4 7 5 00
1,340 00
178,000 00

00
42
00
00
00
00
00
00
00

$ 4 1 3,215 00

$5,3 6 8 ,5 1 8 42

5 .4 3 per cent.

4 .7 8 per cent.

xpen ses

for

Y

e a r

,

e x c l u s iv e

Rent
$ 3,826 03
.0 3 2 8 of 1 %
d u r in g

Y

d u r in g

Y

ear

B

B

is c e l l a n e o u s

an k

B

T

a xe s

Other Expenses
$4,517 9 4
.0 3 8 9 of 1 %

u il d in g

D

e p o s it

A

F

and

Book value
.
Estim ated value
Assessed value .

Total
$30,377 61
.2 6 1 3 of 1 %
ix t u r e s

.
.
.

. $155,000 00
. 150,000 00
. 175,000 00

ccounts

Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

anks

N um ber of corporators, 4 6 ; trustees, 14
Gross income rec’d during year . $508,828 24
State ta x (net) paid “
“
.
3 4,491 39

State

of

Advertising
$25 00
.0001 of 1 %

ear

$ 1 ,9 2 5 ,2 8 4 65
36,100
$ 2 ,2 3 8 ,3 9 6 28
3 3 ,866
. $94,068 15

B oylston National Bank, Boston .
$9 ,6 8 5 89
City Trust Co., Boston
.
.
29 ,0 7 5 27
Commonwealth Tr. Co., Boston .
61 ,2 4 5 31
National Rockland Bank, Boston 123,091 63
N ational Shawmut Bank, B oston
93 ,6 3 3 48
Second National Bank, Boston .
8 ,8 9 5 75
M

00
00
00
00
00
00
00
00
00

n ter e st

4 .8 9 per cent.

$ 2 0 2,758 72
. 204,421 06 $407,179 78

e p o s it

Other Loans

I

$1,4 4 3 ,9 0 0 00

it h d r a w a l s

declared

of

4 .6 5 per cent.

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits
D

ate

$3,5 1 1 ,4 0 3 42

Salaries
Am ount paid for
$22,008 64
% of total assets .1 8 9 5 of 1 %
D

S p e c if ie d R

ach

of

L

3 ,3 8 4
3 ,3 8 6
28,867
$379 34

oans

N o. not exceeding $ 3,000 each
462
A m ount of same
.
. $ 8 0 9,918 00
N o. of loans on real estate .
741
Average amount of same
.
$4 ,7 3 8 73
Am ount loaned on real estate
during year
.
.
. $326,050 00
N o. of new real estate loans
made during year .
64
D

ate

of

E

x a m in a t io n

,

February 19, 20

IPSW ICH SAVINGS BANK, IPSW ICH
President, C h a r l e s A . S a y w a r d
Clerk of the Corporation, G

eo

.

Treasurer, G
E. F a r l e y

eo

.

E. F

Board of Investment: C h a s . A . S a y w a r d , T h o m a s FI. L o r d , J o h n A . B
Geo. H . G r e e n , W a l t e r E. L o r d
Incorporated March 2 0 ,1 8 6 9 .

Open for business every business d ay, 8.30
also Saturdays, 3 to 5 p . m .

a .m

.

arley

la k e

,

to 12.30

p .m

.

Deposits commence to draw interest the fourth W ednesd ay of January, April, July and
October. Dividends are payable the fourth W ednesd ay of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

145

BANK COMMISSIONER

No. 8]

Ipswich Savings Bank — Continued
B

A

Sh

alance

, O

ee t

31, 1908

ctober

L ia b il it ie s

ssets

$119,500 00
Public funds
.
212,452 50
Railroad bonds .
26,650 00
Bank and trust company stocks
4,925 00
Loans to counties, cities or towns .
456,832 90
“
on real estate
10,850 00
“
“ personal security .
3,808 24
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
602 35
mortgaged properties
33,676 43
Deposits in banks, on interest
2,616 83
Cash on hand
.

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

$809,221 81

.

41,000 00
17,575 95

Interest, rents, etc.
Less current
Expenses .

$4,972 38
855 89

$871,914 25

$871,914 25

Schedule op Securities Owned

Public funds
.
.
.
Railroad bonds
.
.
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
5
15
26
8
12
43
19
122
13
13
14
50

Bank and Trust Company Stocks
Trem ont National Bank, Boston
Gloucester National Bank, Gloucester
First National Bank, Ipswich .
National Grand Bank, Marblehead
Asiatic National Bank, Salem .
First National Bank, Salem
Mercantile National Bank, Salem
Merchants National Bank, Salem
National Exchange Bank, Salem
Naum keag National Bank, Salem
Salem National Bank, Salem
Salem Safe Dep. & Trust Co., Salem .

Par Value

Estimated
Market Value

Book Value

$106,500 00
207,000 00
4 ,925 00

$104,852 50
192,185 00
4 ,925 00

$106,500 00
2 02,452 50
4 ,925 00

2 3,000 00

2 3 ,250 00

23,000 00

$341,425 00

$325,212 50

$336,877 50

$175
1,500
2,600
800
1,200
1,720
1,900
6,100
455
1,300
1,400
5,000

$5
1,500
2,652
920
1,200
645
1,919
9 ,760
65
1,885
840
7,500

00
00
00
00
00
00
00
00
00
00
00
00

otal

A

m ount of

L

oans on

5i
6

per cent.
“
“
“
“

T otals

“
“
“
“

ct.

31, 1908,

Loans on Real
Estate

R ate

4
5

O

.
.

.
.

.

.

.
.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 2,000
261,161
1,300
2 5,527
166,844

b e a r in g

E

ach

Loans on Personal
Security

00
00
00
50
40

10,700 00

$ 4 5 6,832 90

$ 10,850 00

5 .3 8 per cent.

$150 00

5 .9 8 per cent.

00
00
00
00
00
00
00
00
00
00
00
00

$175
1,500
2,600
800
1,200
1,720
1,900
6,100
455
1,300
1,400
7,500

S p e c if ie d R

Other Loans

$2 ,4 2 5 00
2 ,500 00

$4,9 2 5 00
4 .5 0 per cent.

00
00
00
00
00
00
00
00
00
00
00
00

$ 26,650 00

$28,891 00

$24,150 00

T

4,116 49

ate

of

In

terest

Total Loans

$ 4,425
263,811
1,300
2 5,527
177,544

00
00
00
50
40

$472,607 90
5 .3 9 per cent.

146

R E PO R T OF THE

[Pub. Doc.

Ipswich Savings Bank — Concluded
T otal E xpen ses
Salaries
A m ount paid for
$2,221 00
% of total assets .2 5 4 7 of 1 %

for

Y

e a r , E X C L U S IV E

Rent
$240 00
.0 2 7 5 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
Am ount of deposits .
. $1 1 6 ,9 2 4 96
N um ber of same
1,949
Am ount of withdrawals
. $157,921 12
N um ber of same
1,998
N et decrease in deposits
. $ 10,142 35

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $15,5 0 5 13
July, 1908, 2 % .
. 15,348 68 $30,853

OF

STATE

Advertising
$62 00
.0071 of 1 %

81

C a s h o n D e p o s it i n B a n k s
Fourth National Bank, Boston . $10,749 0 6
First National Bank, Ipswich
.
9,890 3 4
Merchants National Bank, Salem
8,120 52
Salem Safe D . & Trust Co., Salem
4 ,916 51

TAXES

Other Expenses
$662 58
.0 7 5 9 of 1 %

Total
$ 3,185 58
.3 6 5 3 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
Total num ber O ct. 31, 1908 .
Average balance “
“

335
285
2 ,995
$270 19

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
208
A m ount of same
.
. $208,707 90
N o. of loans on real estate .
238
Average amount of same
.
$1,919 46
A m ount loaned on real estate
during year
.
.
. $17,3 0 7 00
N o. of new real estate loans
made during year .
18

D ate

of

E x a m i n a t i o n , July 23

M is c e l l a n e o u s
N um ber of corporators, 2 2 ; trustees, 14
Gross income rec’d during year . $36,008 24
State ta x (net) paid “
“
.
1,687 17

LAW RENCE SAVINGS BANK, LAW RENCE
President, R

obert

Board of Investment: R

H. T ew ksbury
Treasurer, L e w i s A . F o y e
Clerk of the Corporation, L e w i s A . F o y e
obert H
A l v in

. T e w k s b u r y , W il l i a m T . M c A l p i n e , L e w i s G . H
E . M a c k , Ja m e s I . M il l ik e n

Incorporated March 10, 1868. Open for business every business day, 9
also Saturdays, 2 to 4 and 7 to 8 p .m .

a .m .

to 1

olt,

p .m .;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
.
.
.
$208,000
Railroad bonds .
.
.
.
369,192
Bank and trust company stocks .
14,325
Loans to counties, cities or towns .
99,000
“
on bank and trust co. stocks
8,500
“
“ real estate
.
. .2,614,058
“
“ personal security
. . 628,101
Bank building and fixtures
. .
33,000
Deposits in banks, on interest
.
52,467
Cash on hand
.
.
.
.
8,463
Checks and cash items
. .
109


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
50
00
00
00
42
83
00
52
98
25

$4,035,218 50

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.
. '

.$3,770,383 91
.

Interest, rents, etc.
. $85,513 87
Less current
Expenses . $2,270 41
Taxes
.
567 79
2,838 20

130,000 00
52,158 92

82,675 67
$4,035,218 50

BANK COMMISSIONER

No. 8]

147

Lawrence Savings Bank — Continued
Schedule

op

Par Value

Estimated
Market Value

Book Value

$198,000 00
383,000 00
69,000 00

$ 1 9 5,925 00
348,3 6 0 00
69,070 00

$198,000 00
3 69,192 50
69,000 00

Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
legal
.

40,000 00

4 0,000 00

4 0 ,000 00

$690,000 00

$65 3 ,3 5 5 00

$676,192 50

Shs.
Bank and Trust Company Stocks
20 Fourth National Bank, Boston .
20 Merchants National Bank, Boston
20 National Bank of Commerce, Boston .
10 National Shawmut Bank, Boston
20 State National Bank, Boston
20 Tremont National Bank, Boston
22 W ebster & A tlas National B ’k, Boston .
15 B a y State National Bank, Lawrence .
20 Lawrence National Bank, Lawrence

$2,000
2,000
2,000
1,000
2,000
700
2,200
1,125
2,000

00
00
00
00
00
00
00
00
00

$3,200
4,340
3 ,200
2 ,900
2 ,900
20
3 ,190
1,665
2,300

$15,0 2 5 00

T

otal

A

m ount of

L

ct.

31, 1908,

Loans on Real
Estate

Rate

2

O

oans on

b e a r in g

“

—

“

“

-

“
“
“
“
“
“

“
“
“
“
“
“
“

“

“

3f
3.8 0
4
4i
4Ì

“

4f
4J
5

“

5-Ì

“

“

5i

“

“

“

“

6

T otals

-

$85,000 00

50,000 00

-

-

183,100
2 5,000
55,000
44,101
2 5,000
100,100
70,800

-

58,000 00
2,137 ,3 4 3 42
-

4,600 00
34 ,1 1 5 00

Average rate

T

otal

E

e p o s it s

and

W

I

n terest

Total Loans
$25,000
5 0,000
2 ,500
10,000
2 0,000
170,000
20,000
489,600
2 5,000
113,000
2 ,1 8 9 ,9 4 4
2 5,000
104,700
104,915

00
00
00
00
00
00
-

8,500 00
—

-

00
00
00
00
00
00
00
00
00
00
42
00
00
83

$107,500 00

$ 3 ,3 49,660 25

4 .9 1 per cent.

4 .6 2 per cent.

4 .0 9 per cent.

4 .8 3 per cent.

it h d r a w a l s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00
83

of

$628,101 83

xpen ses

Am ount of deposits
.
Num ber of same
.
Am ount of withdrawals
N um ber of same
.
N et decrease in deposits

ate

$2,6 1 4 ,0 5 8 42

Salaries
A m ount paid for
$ 5,338 47
% of total assets .1 3 2 2 of 1 %
D

-

$14,3 2 5 00

-

$2,500
10,000
20,000
35,000
2 0,000
11,500

-

-

-

Other Loans

$25,000 00
50,000 00

2 95,000 00

.

S p e c if ie d R

ach

00
00
00
00
00

2 ,200 00
1,125 00
2 ,000 00

$23,7 1 5 00

Loans on Personal
Security

per cent.

2i
3i

E

$ 2 ,000
2,000
2,000
1,000
2,000

00
00
00
00
00
00
00
00
00

.
.
.
.
.

for

Y

e a r

,

e x c l u s iv e

d u r in g

Y

of

Advertising

Rent
ear

. $864,067 91
.
13,563
$1,1 4 3 ,7 5 2 52
.
10,918
. $135,619 24

B

an k

B

State

T

axes

Other Expenses
$ 1,935 05
.0 4 7 9 of 1 %
u il d in g

Book value
Estim ated value
Assessed value .
N et income

and

F

Total
$7,273 52
.1801 of 1 %
ix t u r e s

$33,000
40,000
3 3,450
8 84

00
00
00
54

R E PO R T OF THE

148

Lawrence Savings Bank —
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Gash

on

D

D

ear

e p o s it

B

in

an ks

.
.
.

$18,1 1 6 84
1 2,274 91
2 2 ,0 7 5 77

is c e l l a n e o u s

N um ber of corporators, 2 5 ; trustees, 15
Gross income rec’d during year . $1 9 3 ,2 5 4 77
State ta x (net) paid
“
.
6,560 37
D

ate

op

E

x a m in a t io n

December 16, 17

,

Concluded

e p o s it

A

ccounts

N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

. $72,259 57
. 71 ,8 0 5 80 8 1 4 4,065 37

Merchants N ’l Bank, Boston
Arlington N ’l Bank, Lawrence
Merchants N ’l Bank, Lawrence
M

Y

d u r in g

[Pub. Doc,

S t a t is t ic s

of

L

1,886
2 ,232
9 ,0 3 6
$417 2 6

oans

N o. not exceeding $ 3,000 each
458
Am ount of same
.
. $687,643 00
N o. of loans on real estate .
715
Average amount of same
.
$ 3,656 02
Am ount loaned on real estate
during year
.
.
. $275,190 0 4
N o. of new real estate loans
m ade during year .
.
64

LEE SAVINGS BANK, LEE
President, G

eorge

a ir d
Treasurer, E
Clerk of the Corporation, J o h n L . K i l b o n

K . B

Board of Investment: G

eorge

K. B

a ir d

, B

en n ett

T. G

ale

dw ard

, Ch

arles

S. R

ogers

H. Sh a y lo r

Incorporated March 5, 1852.
Open for business every business day, except Saturdays,
9 a .m . to 3 p . m . ; Saturdays, 9 a . m . to 12.30 p . m .
Deposits commence to draw interest the first d ay of March, June, September and
December. Dividends are payable the first day of June and December

B

A

alance

Sh

eet

, O

ctober

31, 1908
L

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Boston Terminal Company bonds .
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns .
“
“ railroad companies .
“
on railroad stocks
“
“ bank and trust co. stocks
“
“ depositors’ books .
“
“ real estate
“
“ personal security .
Bank building and fixtures .
Deposits in banks, on interest
“
“
“
not on interest .
Cash on hand
.
.
.
.

$33,700
384,275
69,000
53,000
4,000
112,000
34,650
5,000
6,000
6,200
50
358,110
173,083
15,000
23,040
5,141
3,536

00
00
00
00
00
00
00
00
00
00
00
25
78
00
06
31
87

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

ia b il it ie s

.

.$1,171,984 01

.

.

$1,285,787 27

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or tow ns
Bonds and notes which are not now
investments
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,285,787 27

Par Value

Schedule of Securities Owned

.
.
.

legal
.

58,500 00
55,303 26

$33,500
375,000
40.000
5 0.000
5,000
34,6 5 0

00
00
00
00
00
00

Estimated
Market Value

Book Value

$34,552
3 6 7 ,0 7 5
40 .6 5 0
49 ,0 0 0
4 ,518
3 4.650

$33,700
370,7 0 0
4 0.000
53.000
4 ,000
3 4,650

50
00
00
00
75
00

00
00
00
00
00
00

5 0.000 00

4 8 ,2 2 5 00

47 ,5 7 5 00

$ 5 8 8,150 00

$578,671 25

$583,625 00

BANK COMMISSIONER

No. 8]

149

Lee Savings Bank — Continued
Schedule

of

Securities Owned

Estimated
Market Value

Par Value

Book Value

Shs.

Bank and Trust Com pany Stocks
40 First National Bank, Am herst .
10 Atlantic National Bank, Boston
20 First National Bank, Boston
60 N ’l Bank of Commerce, Boston
30 National Bank of the Republic, Boston
20 New E ngland National Bank, Boston .
30 Second National Bank, Boston
40 State National Bank, Boston
40 W ebster & A tlas National B ’k, Boston
20 N ’l Mahaiwe Bank, G t. Barrington
100 Lee National Bank, Lee .
70 N o. A dam s N ational Bank, N o. Adam s
20 Agricultural N ’l Bank, Pittsfield
90 Pittsfield National Bank, Pittsfield .
5 Third National Bank, Pittsfield
50 Chapin National Bank, Springfield
72 Chicopee National Bank, Springfield .
50 Springfield N ’l Bank, Springfield
51 Third National Bank, Springfield
75 Housatonic N ’l Bank, Stockbridge
20 Merchants N ational Bank, W orcester .

$4,000
1,000
2,000
6,000

00
00
00
00

2,000
3,000
4,000
4,000
2,000
10,000
7,000
2,000
9,000
500
5,000
7,200
5,000
5,100
7,500
2,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$6,400
1,400
6,280
9 ,600
1,500
2,800
6,450
5,800
5.800
3,200
16,500
8,050
5,600
14,400
1,125
5,000
10,800
10,500
10,200
12,000
3 ,160

$88,300 00

T

otal

A

m ount of

L

oans on

O

ct.

3 1 , 1908,

Loans on Real
Estate

Rate

b e a r in g

E

$ 1 4 6,565 00

S p e c if ie d R

ach

Loans on Personal
Security

A\ per cent.
5
5i

“
“
“
“
“

5i

5f
6

T otals

“
“
“
“
“

.
.

.
.

.
.

.
.

$302,119 00
2,800 00
53,191 25

.

Average rate

T

otal

E

e p o s it s

and

W

iv id e n d s

D ec., 1907, 2 %
June, 1908, 2 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2,800
5,000
4,200
4,800
2 ,500
10,000
7,000
4,500
11,000
1,000
6,000
10,000
6,200
10,000
8,000
3,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$112,000 00

ate

of

I

n terest

Other Loans

Total Loans

$29,800
17,200
300
4 ,550

$29,800
387,719
10.300
22 ,3 5 0
11.300
121,625

00
00
00
00

50 00

00
00
00
00
00
03

$51,900 00

$ 5 7 8 ,0 9 4 03

5 .1 5 per cent.

5 .5 0 per cent.

4 .7 5 per cent.

5 .2 4 per cent.

xpen ses

it h d r a w a l s

declared

00
00
00
00

$173,083 78

for

Y

e a r

,

e x c l u s iv e

Rent
$475 76
.0 3 7 0 of 1 %
d u r in g

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits
D

00
00
00
00
78

$5,000
1,000
4,000
6,000

$358,110 25

Salaries
Am ount paid for
$ 3,167 86
% of total assets .2 4 6 3 of 1 %
D

$68,400
10,000
15,000
11,300
68,383

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

Y

ear

.$ 1 9 4 ,6 1 1 21
2 ,3 9 4
. $221,030 24
2,292
. $ 1 7 ,7 8 4 41
d u r in g

. $21,959 98
. 2 2 ,243 46

Y

ear

$44,203 44

of

State

Advertising
$11 50
0009 of 1 %
B

an k

B

u il d in g

Book value
.
Estim ated value
Assessed value .
D

e p o s it

T

axes

Other Expenses
$833 27
.0 6 4 8 of 1 %

A

and

F

Total
$4,488 39
.3 4 9 0 of 1 %
ix t u r e s

. . .
,
.

.
.

$15,000 00
17,000 00
7 ,500 00

ccounts

N um ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“

360
363
3,129
$374 56

REPO RT OF THE

150

[Pub. Doc,

Lee Savings Bank — Concluded
Cash

on

D

e p o s it

B

in

M

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,0 0 0 each
2 50
Am ount of same
.
. $ 2 3 2 ,7 8 5 25
N o. of loans on real estate .
245
Average am ount of same
.
$1,4 61 67
Am ount loaned on real estate
during year
.
.
. $ 5 0 ,6 2 5 00
N o. of new real estate loans
m ade during year .
43

anks

First National Bank, Boston
.
Lee National Bank, Lee
.
.
Berkshire L. & Tr. Co., Pittsfield .
Pynchon N ’l Bank, Springfield .
Springfield N ’l Bank, Springfield .
Springfield Safe Deposit & Trust
Company, Springfield
.
.

$4,682
6,842
6,550
141
3 ,342

22
81
00
31*
92

6,622 11

is c e l l a n e o u s

D ate

N um ber of corporators, 4 8 ; trustees, 11
Gross income rec’d during year . $58,449 50
State ta x (net) paid “
“
.
3 ,1 1 8 23

of

E x a m i n a t i o n , October 19

* In liquidation.

LEICESTER SAVINGS BANK, LEICESTER
President, C h

as

. T. M

Treasurer, P

unroe

Clerk of the Corporation, P
Board of
A

lo n zo

Investment:
B. D

a v id s o n

arkm an

T.

D

arkm an

T.

D

en n y

en n y

Ch a s. T . M u n r o e , Ch a s. A . D e n n y , T h
, J a m e s J. K n ig h t , W a l t e r E . S p r a g u e , W

eo

.

E.

alter

W oodcock,
C. W a tso n

Incorporated April 17, 1869. Open for business every business day, except Saturdays,
9 a .m . to 1 p .m ., 2 to 4 p .m . ; Saturdays, 9 a .m . to 1 p .m .
Deposits commence to draw interest the first day of March, June, September and
December. Dividends are payable the first day of June and December

B

A

alance

Sh

eet

, O

ctober

3 1 , 1908
L ia b il it ie s

ssets

Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“
on public funds .
“
“ real estate
“
“ personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposit in bank, on interest .
Cash on hand
Checks and cash items

. $179,000 00
. 193,975 00
.
36,000 00
.
12,320 00
9.S75 00
.
16,600 00
5,000 00
750 00
. 240,790 72
.
54,845 44
7,500 00
2,298 76
.
14,550 48
6,232 30
40 93

Deposits .
Surplus:
Guaranty fund
Profit and loss

$723,356 17
36,340 85
4,608 05

Interest, rents, etc.
Less current
Expenses .

. $16,537 60
.

1,064 04

$779,778 63

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$779,778 63

Par Value

Schedule op Securities Owned

.
.
.

legal
.

15,473 56

$134,000
195,000
3 6.000
14.000
16,600

00
00
00
00
00

Estimated
Market Value
$132,710
184,777
3 6,440
12,652
16,537

00
50
00
50
50

Book Value

$134,000
193,975
3 6.000
12,320
16,600

00
00
00
00
00

50.000 00

48,837 50

50.000 00

$445,600 00

$ 4 3 1,955 00

$442,895 00

BANK COMMISSIONER

No. 8]

151

Leicester Savings Bank — Concluded
Schedule

op

Securities Owned

Shs.
Bank and Trust Company Stocks
10 Commonwealth Trust Co., Boston
54 State National Bank, Boston
15 W eb ster & A tlas National B ’k, Boston .
6 M illbury National Bank, Millbury

Par Value

Estimated
Market Value

Book Value

$1,000
5,400
1,500
600

$1,550
7,830
2 ,1 7 5
510

$1,500
6 ,075
1,700
600

00
00
00
00

$8,500 00

T

A

otal

m ount of

L

oans on

ct.

3 £ per cent.
4
“
“
4* “
“
5
“
“

.

5i

“

“

.

6

“

“

$ 3,275
198,651
5,050
33 ,8 1 4

■

and

E

otal

W

Loans on Personal
Security

00
37
00
35

on

D

for

Y

ear

,

e x c l u s iv e

Rent
$6,333 00
.0081 of 1 %

d u r in g

.

Y

ear

$ 60,946 27
536
$88,919 39
894
$224 03

.

Y

d u r in g

B

in

ear

$28,197 15

of

E

x a m in a t io n


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

,

1,600 00

State

of

Advertising

B

an k

B

.

$ 14,550 48

March 26

T

a xe s

Other Expenses
$733 53
.0 9 4 0 of 1 %

u il d in g

and

F

Total
$ 2,496 86
. 3201 of 1 %

ix t u r e s

$7,500 00
9 ,000 00
5,500 00

Book value
Estim ated value
Assessed value .

e p o s it

A

ccounts

Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

S t a t is t ic s

an k

is c e l l a n e o u s

ate

5,000 00

00
00
00
37
00
79

$ 3 1 7,986 16

N um ber of corporators, 3 3 ; trustees, 13
Gross income rec’d during year . $34,206 44
State ta x (net) paid “
“
.
2,347 85

D

$ 2,500
13,250
3 ,2 7 5
214,551
15,050
69,359

5 .1 8 per cent.

State National Bank, Boston

M

Total Loans

$ 22,350 00

. $ 1 4 ,1 1 4 91
. 14,082 2 4

e p o s it

terest

4 .3 1 per cent.

xpen ses

declared

In

$ 54,845 44

it h d r a w a l s

D ec., 1907, 2 %
June, 1908, 2 %

Cash

of

Other Loans

$10,900 00
10,000 00
33 ,9 4 5 44

D
iv id e n d s

ate

5 .7 1 per cent.

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

D

S p e c if ie d R

ach

$ 9,875 00

$240,790 72

Salaries
Am ount paid for
$1,700 00
% of total assets .2 1 8 0 of 1 %

e p o s it s

E

00
00
00
00

5 .1 4 per cent.

.

T

b e a r in g

$12,0 6 5 00

$2 ,5 0 0 00
13,250 00

.
■

Average rate

D

31, 1908,

Loans on Real
Estate

Rate

T otals

O

00
00
00
00

of

L

111
111
1,464
$494 09

oans

174
N o. not exceeding $ 3,000 each
$189,353 72
Am ount of same
180
N o. of loans on real estate .
Average amount of same
$ 1 ,337 72
A m ount loaned on real estate
during year
$14,250 00
N o. of new real estate loans
made during year .
15

152

R E PO R T OF THE

[Pub. Doc,

LENO X SAVINGS BANK, LENOX
President, W

D. C u r t is
Clerk of the Corporation, M

Treasurer, H
A. B r o w

il l ia m

Board of Investment: W

il l ia m

D. C u r t is , H
H

Incorporated April 4, 1890.
9 a . m . to 12.30

u rray

Sedgw

en r y

en ry

A. B

E.

a r ry

K

endall

n

elden

, T

homas

P

ost

,

ic k

Open for business every business d ay, except Saturdays,
., 1.30 to 3 p . m . ; Saturdays, 9 a . m . to 12 m .

p .m

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first Tuesday of January and July

B

A

alance

Sh

eet

, O

ctober

3 1 , 1908

ssets

Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
on public funds .
railroad bonds
depositors’ books .
“ real estate
personal security .
Deposits in banks, on interest
not on interest
Cash on hand
Checks and cash items

.
.
.
.
.

$57,275
197,935
17,625
10,700
48,409
7,150
375
3,234
380
207,470
25
4,699
2,285
764
50

.

00
00
00
00
00
00
00
25
00
00
00
51
93
03
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L

ia b il it ie s

.

.

.

12,300 00
2,753 78

Interest, rents, etc.
Less current
Expenses .

.

$6,959 44
618 16

$558,377 72

Schedule or Securities Owned

Public funds
Railroad bonds
Street railway bonds
Telephone company bonds
Loans to counties, cities or towns


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

6,341 28

$558,377 72

Par Value

$57,000
193,000
17,000
12,000
7,480

00
00
00
00
00

$286,480 00
Shs.
Bank and Trust Com pany Stocks
57 Lee National Bank, Lee
80 Lenox National Bank, Lenox
15 Palmer National Bank, Palmer .
20 Agricultural NT Bank, Pittsfield
19 Pittsfield National Bank, Pittsfield
14 Chicopee National Bank, Springfield .
10 Chapin National Bank, Springfield
2 4 Third National Bank, Springfield
2 5 Springfield National Bank, Springfield
25 Springfield S. Dep. & Tr. Co., Springfield
12 Housatonic National Bank, Stockbridge
10 Mechanics National Bank, W orcester .

$536,982 66

$5,700
8 ,000
1,500
2,000
1,900
1,400
1,000
2 ,400
2 ,500
2,500
1,200
1,000

00
00
00
00
00
00
00
00
00
00
00
00

$31,100 00

Estimated
Market Value

Book Value

$57,762
187,625
16,375
10,845
7,480

$ 57,275
197,935
17,625
10,700
7,150

50
00
00
00
00

$280,087 50

$ 9 ,405
14,000
1,500
5,600
3 ,040
2,100
1,000
4,800
5,250
5,000
1,920
1,150

00
00
00
00
00
00
00
00
00
00
00
00

$54,765 00

00
00
00
00
00

$290,6 8 5 00

$ 9,565
11,245
1,500
5,005
2,980
2,100
1,200
4,800
3 ,500
3 ,750
1,764
1,000

00
00
00
00
00
00
00
00
00
00
00
00

$48,409 00

No. 8]

BANK COMMISSIONER

153

Lenox Savings Bank —Concluded
T

otal,

A

m ount of

L

oans on

31, 1908,

ct.

Loans on Real
Estate

R ate

4 per cent.
5 “
“
6 “
“
T otals

O

.

E

otal

W

iv id e n d s

$25 00

$ 11,139 25

$ 2 1 8,634 25

6 .0 0 per cent.

4 .3 7 per cent.

5 .0 5 per cent.

xpen ses

for

Y

e a r

,

e x c l u s iv e

Rent

it h d r a w a l s

declared

Cash

on

D

.
.

e p o s it

d u r in g

of

State

Advertising

$200 00
.0 3 5 8 of 1 %

Y

$2 50
.0 0 0 4 of 1 %

ear

. $ 1 1 6,714 03
1,842
. $130,355 96
1,092
.
$4,680 08

d u r in g

$8,563 42
9 ,7 5 8 59

in

B

Y

ear

$18,322 01

anks

L en ox National Bank, Lenox
.
Berkshire Loan & T . Co., Pittsfield

M

Total Loans

$207,470 00

D

e p o s it

A

$2 ,2 8 5 93
4,699 51

is c e l l a n e o u s

T

a xes

Other Expenses

Total

$247 75
.0 4 4 3 of 1 %

$ 1 ,7 2 4 25
.3 0 8 6 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
*»“
T otal number Oct. 31, 1908 .
Average balance “
“

S t a t is t ic s
D

n terest

5 .0 9 per cent.

A m ount of deposits .
N um ber of same
A m ou n t of withdrawals
N um ber of same
N e t increase in deposits

Jan., 1908, 1 £ %
July, 1908, 2 % .

I

$ 7,150 00
192,389 25
1 9,095 00

A m ount paid for
$ 1 ,2 7 4 00
% of total assets .2 281 of 1 %

e p o s it s a n d

Other Loans

of

$ 7,150 00
3 ,6 1 4 25
375 00

Salaries

D

ate

$25 00

.

T

S p e c if ie d R

ach

Loans on Personal
Security

$ 1 8 8,775 00
18,695 00

.

Average rate

E

b e a r in g

of

L

268
215
1,436
$373 9 4

oans

N o. not exceeding $ 3,000 each
59
Am ount of same
.
. $69,990 00
N o. of loans on real estate .
75
Average amount of same
.
$ 2 ,766 26
A m ount loaned on real estate
during year
.
.
. $11,900 00
N o. of new real estate loans
made during year .
.
2

D

ate

of

E

x a m in a t io n

,

October 19

N um ber of corporators, 3 ; trustees, 15
Gross income rec’d during year . $ 23,368 20
S tate ta x (net) paid “
“
.
1,257 05

LEOMINSTER SAVINGS BANK, LEOMINSTER
President, A

H . H all
Treasurer, C h a r l e s A . J o s l i n
Clerk of the Corporation, C h a r l e s A . J o s l i n

rth ur

Board of Investment:
D . Cu

Clesson K
N ic k e r

r t is

, H a m il t o n M a y o , A
, M il t o n H . B o s w o r t h

en n ey
son

rth u r

H .

H

a ll

,

Incorporated March 16, 1865. Open for business every business d ay, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifteenth d ay of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

154

REPO RT OF TH E

[Pub. Doc,

Leominster Savings Bank — Continued
B

A

alance

Sh

eet

, O

31, 1908

ctober

ssets

Public funds
. $411,000
Railroad bonds .
. 224,191
Street railway bonds
. 20,000
Bank and trust company stocks . 21,000
Loans to counties, cities or towns . 146,705
on railroad stocks
700
“ bank and trust co. stockis
3,800
“ depositors’ books .
1,255
“ real estate
.1,204,240
“ personal security
. 292,534
Bank building and fixtures .
. 80,130
Real estate by foreclosure, etc.
1,367
Deposits in banks, on interest
. 50,333
364
not on interest
Cash on hand
.
10,740

00
25
00
00
11
00
00
00
46
00
50
40
21
61
78

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

. $2,320,075 90
.

Interest, rents, etc.

. $31,743 27

L ess current

Expenses .

.

4,260 37

$2,468,362 32

Schedule

op

Securities Owned

$411,000
227,0 0 0
2 0,000
146,705

.
.

Shs.
Bank and Trust Company Stocks
80 Safety Fund N ’ l Bank, Fitchburg
150 Leominster N ’l Bank, Leominster

T

otal

A

m ount of

L

oans on

3^ per cent.
4
“
“
4i “
“
4* “
“
4f “
“
5
“
“
“

Totals

ct

.

31, 1908,

Loans on Real
Estate

Rate

6

O

.
.
•
.
.

.
.
.
.

“

.

Average rate

T

otal

E

$17,000
77.000
3 5.000
1,059 ,7 6 5
15,475

Estimated
Market Value
00
00
00
11

$406,797
2 1 4 ,0 6 5
2 0,000
144,260

Book Value

50
00
00
11

$411,000
224,191
2 0 ,000
146,705

00
25
00
11

$ 8 0 4,705 11

$785,122 61

$801,8 9 6 36

$8,000 00
15,000 00

$8,000 00
19,500 00

$6,000 00
15,000 00

$ 23,000 00

$ 27,500 00

$21,000 00

b e a r in g

E

ach

Loans on Personal
Security

S p e c if ie d R

ate

Other Loans

$117,500
2 0 ,2 0 5
5.000
4 .000

00
11
00
00

of

I

n terest

Total Loans

$117,500
20 ,2 0 5
2 2 ,000
81 ,0 0 0
3 5 ,000
1,3 4 9 ,9 0 4
2 3 ,625

00
11
00
00
00
46
00

00
00
00
46
00

$2 8 4 ,3 8 4 00
8 ,150 00

5 ,755 00

$1,2 0 4 ,2 4 0 46

$2 9 2 ,5 3 4 00

$152,460 11

$1,6 4 9 ,2 3 4 57

4 .9 6 per cent.

5 .0 3 per cent.

3 .6 7 per cent.

4 .8 5 per cent.

xpen ses

Salaries
Am ount paid for
84,908 26
% of total assets . 1988 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

27,482 90

$2,468,362 32

Par Value

Public funds
» .
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or tow ns

113,000 00
7,803 52

for

Y

e a r

,

Rent
$1,800 00
.0 7 2 9 of 1 %

e x c l u s iv e

of

Advertising

$8 00
.0 0 0 3 of 1 %

State

T

a xes

Other Expenses
$873 14
.0 3 5 3 of 1 %

Total
$7,589 40
.3 0 7 4 of 1 %

155

BANK COMMISSIONER

No. 8]

Leominster Savings Bank— Concluded
D

W

e p o s it s a n d

it h d r a w a l s

Am ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits

d u r in g

Y

B

ear

D
D

iv id e n d s

declared

Jan., 1908, 2 % ,
July, 1908, 2 % .
Cash

on

D

Y

d u r in g

. $44,0 0 5 75
. 43 ,9 6 4 45

e p o s it

B

in

$87,970 20

$364 61
21 ,5 3 4 40
28,798 81

of

E

x a m in a t io n

F

and

ix t u r e s

$80,130
8 2,000
5 9,040
1,128

e p o s it

A

50
00
00
02

ccounts

856
1,013
6,563
$353 51

S t a t is t ic s

of

L

oans

595
N o. not exceeding $ 3,000 each
$695,7 0 6 46
Am ount of same
632
N o. of loans on real estate .
$ 1,905 44
Average amount of same
A m ount loaned on real estate
$223,930 00
during year
N o. of new real estate loans
80
made during year

is c e l l a n e o u s

ate

u il d in g

anks

N um ber of corporators, 3 5 ; trustees, 15
Gross income rec’d during year . $108,701 14
State ta x (net) paid “
“
.
5,822 97
D

B

Num ber opened during year
Num ber closed
“
T otal number O ct. 31, 1908 .
Average balance “
“

ear

Old Colony Trust Co., Boston
.
Safety Fund N ’l Bank, Fitchburg
Leominster N ’l Bank, Leominster
M

an k

Book value
. $384,756 27
Estim ated value
.5,412
. $465,175 74 Assessed value .
N et income
.6,371
.
$ 7 ,550 73

.
.
.
.
.

February 7

,

LEXINGTON SAVINGS BANK, LEXINGTON
President, G

O. W h i t i n g
Clerk of the Corporation, A

eorge

Board of Investment:
Jam

es

G eorge
E . Cron

e

Treasurer, B
u gu stu s

radley

C. W

h it c h e r

E . Scott

O. W h i t i n g , I r v i n g S t o n e , G e o r g e W .
, C h a r l e s B . D a v is , F r a n k D . P e ir c e

Spau

l d in g

,

Incorporated March 11, 1871. Open for business every business day, except Saturdays,
2 to 5 p . m . ; Saturdays, 10 a . m . to 12 m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the third W ednesd ay of April and October

B

alance

Sh

ee t

, O

ctober

31, 1908
L ia b il it ie s

A ssets

Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds .
Loans to counties, cities or towns
“
“ railroad companies
“
on real estate
“
“ personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposit in bank, on interest .
Cash on hand
Checks and cash items

$50,000
119,440
20,000
8,761
15,000
5,000
288,446
28,915
25,218
200
13,685
2,239
220

00
00
00
25
00
00
53
00
08
00
76
65
00

$544,001 35

Deposits .
Surplus:
Guaranty fund
Profit and loss

27,000 00
3,934 34

Interest, rents, etc.
Less current
Expenses .

.

$2,393 85
203 27

$577,126 27

$577,126 27

Par Value

Schedule op Securities Owned

Public funds,
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

.
.
.

2,190 58

$50,000 00
105,000 00
2 0,000 00

Estimated
Market Value

Book Value

$ 50,850 00
104,042 50
19,750 00

$50,000 00
104,800 00
2 0,000 00

156

R E PO R T OF TH E

[Pub. Doc,

Lexington Savings Bank — Concluded
Schedule or Securities Owned

Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.

T otal A m ou nt

of

L oans

4J per cent.
4f “
“
5
“
“

.

5i

.

“
“

“
“

Totals

O c t . 31, 1908,

Loans on Real
Estate

R ate

6

on

.
.

Average rate

.
.

$ 8,000
14,500
2 0 3 ,2 3 6
3 ,2 5 0
5 9,460

15,120 00

14,640 00

$221,000 00

$218,800 00

$218,201 2 5

$8,761 25
15,000 00
5,000 00

E a c h S p e c if ie d B a t e

of

Other Loans

Total Loans

$15,000 00

$23,000
14,500
217,3 7 6
3 ,250
7 9,235

$14,140 00
1 4,775 00

I nterest

5,000 00

00
00
53
00
00

$28,9 1 5 00

$20,000 00

$337,361 53

5 .5 1 per cent.

4 .8 7 per cent.

5 .1 6 per cent.

for

Y

Salaries
$ 1,650 00
.2 8 5 8 of 1 %

C a s h o n D e p o s it i n B a n k
Fourth National Bank, Boston

e a r , e x c l u s iv e

Rent

Y ear
. $ 8 9 ,0 0 6 98
1 693
. $98,2 4 5 39
.
1,325
. $10,973 60

d u r in g

.

$13,6 8 5 76

M is c e l l a n e o u s
N um ber of corporators, 3 2 ; trustees, 25
Gross income rec’d during year . $26,630 55
State ta x (net) paid “
“
.
1,081 09

E x a m i n a t i o n , N ovem ber 16


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

16.000 00

b e a r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $10,092 66
O ct., 1908, 2 %
. 10,119 35 $20,2 1 2 01

of

$ 9,037 50
15,000 00
5,000 00

$ 2 8 8,446 53

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

D ate

$10,0 0 0 00
15.000 00
5,000 00

Loans on Personal
Security

00
00
53
00
00

Book Value

5 .1 9 per cent.

T otal E xpen ses
A m ount paid for .
% of total assets .

Estimated
Market Value

Par Value

of

Advertising

St a t e T a x e s
Other Expenses
$389 57
.0 6 7 5 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$2,039 57
.3 5 3 3 of 1 %

F ix t u r e s
. $25,218
.
27,000
.
22,600
332

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

08
00
00
97

203
194

1,852
$293 74

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
A m ount of same
.
. $1 3 9 ,9 8 6
N o. of loans on real estate .
Average amount of same
.
$ 2 ,913
Am ount loaned on real estate
during year
„
.
. $13,400
N o. of new real estate loans
made during year .

82
53
99
60
00
7

BANK COMMISSIONER

No. 8]

157

LOW ELL FIVE CENTS SAVINGS BANK, LOW ELL
President, J o h n A . F a u l k n e r
Treasurer, A u s t in K . C h a d w i c k
Clerk of the Corporation, A u s t in K . C h a d w i c k
Board of Investment: A r t h u r S t a p l e s , S a m u e l H . T h o m p s o n , G e o r g e L . H
W il l i a m F . W i l d e r , F r a n k E . D u n b a r , A u s t in K . C h a d w i c k
Incorporated April 12, 1854.

Open for business every business day, 9
also Saturdays, 7 to 9 p .m .

a .m .

ooper,

to 1

p .m .;

Deposits commence to draw interest the first Saturday of January, April, July and October
Dividends are payable M onday following the first Saturday of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets

L ia b il it ie s

Public funds
.
.
.
.
$100,000
Railroad bonds .
.
.
.
750,000
Street railway bonds
130,000
Telephone company bonds
45,000
Bank and trust company stocks
57,100
Loans to railroad companies
40,000
“ on bank and trust co. stocks
100
“
“ depositors’ books .
900
real estate $2,063,830 00
Less, due on mtge. loans 7,200 00 2,056,630
Loans on personal security
.
. 668,377
Bank building and fixtures
.
.
50,000
Stocks, bonds etc., taken to secure
indebtedness .
.
.
3,950
Deposits in banks, on interest
.
52,051
Cash on hand
.
.
.
.
6,469
Checks and cash items
.
.
1,527

00
00
00
00
00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$3,605,196 49
.

Interest, rents, etc.

70,377 47

00
16
00
00
21
00
73

$3,962,105 10

Schediti,e or Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Telephone com pany bonds
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

Shs.
52
5
10
100
40
25
32
35
138
66
188
20

Bank and Trust Company Stocks
B oylston National Bank, Boston
Faneuil H all National Bank, Boston
Merchants National Bank, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
Old Lowell National Bank, Lowell
Union National Bank, Lowell .
Prescott National Bank, Lowell
W am esit National Bank, Lowell


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

189,000 00
97,531 14

;,962,105 10

Par Value

$100,000
750,000
120,000
50,000

00
00
00
00

Estimated
Market Value
$99,925
719,275
121,275
45,187

00
00
00
50

Book Value

$100,000
750,000
120,000
45,000

00
00
00
00

50,000 00

50,550 00

50,000 00

$ 1 ,0 70,000 00

$ 1 ,0 36,212 50

$1,065,000 00

$5,200
500
1,000
10,000
4,000
2,500
3,200
1,225
13,800
6,600

$5,200
690
2 ,170
2 9,000
6,400
5,375
4,640
35
13,800
11,220
564
2 ,020

00
00
00
00
00
00
00
00
00
00
-

2,000 00
$50,0 2 5 00

00
00
00
00
00
00
00
00
00
00
00
00

$81,1 1 4 00

$5,200
500
1,000
15,000
4,000
2,500
3,200

00
00
00
00
00
00
00

13,800 00
9,900 00
2,000 00
$57,100 00

158

R E PO R T OF THE

[Pub. Doc.

Lowell Five Cents Savings Bank — Concluded
T

otal

A

m ount of

L

oans on

4 per cent.
4Ì »
“
4i

“

“

“

“

5i
5|

“
»

“
»

5i
6

“

“

“

“

T otals

.
.
.
.
•
.
.
.

“

“

5

ct

31, 1908,

.

Loans on Real
Estate

R ate

4f

O

$ 90,000
189,000
4 50,750
10,800
1 ,259,330

.
.
.
.

Average rate

T

00
00
00
00
00

otal

E

e p o s it s

and

W

iv id e n d s

Jan., 1908, 2 % .
July, 1908, 2 % .
C ash

on

D

in

$41,000 00

$2,7 6 7 ,0 0 7 16

5 .0 0 per cent.

4 .8 8 per cent.

xpen ses

for

Y

e a r

,

e x c l u s iv e

Rent

d u r in g

Y

d u r in g

Y

B

Sta

of

Advertising
8250 90
.0 0 6 3 of 1 %
B

ear

8674,830 33
21,858
8836,531 34
15,656
825,447 73
ear

B

an k

u il d in g

10,000 00
30,569 83

is c e l l a n e o u s

N um ber of corporators, 4 9 ; trustees, 16
Gross income rec’d during year . $183,789 41
State ta x (net) paid “
“
.
7,442 40

T

a xes

F

and

Total
812,5 7 8 62
.3 1 7 3 of 1 %

ix t u r e s

.
.
.

850,0 0 0 00
50,000 00
6 1,450 00

Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

3 ,072
3 ,3 6 4
1 6 ,065
8224 41

D

e p o s it

A

.
.
.

ccounts

S t a t is t ic s

81,372 55
10,108 83

te

Other Expenses
8 2 ,347 72
.0 5 9 2 of 1 %

Book value
.
Estim ated value
Assessed value .

anks

N ational Shawmut Bank, Boston
N ational Union Bank, Boston
.
Middlesex Safe Deposit and Trust
Company, Lowell .
.
.
U nion National Bank, Lowell
.
M

4 0,600 00

00
00
00
00
16
00
00
00
00

$668,377 16

. 868,387 93
. 6 7,865 35 8136,253 28

e p o s it

$90,000
2 39.000
558,950
10,800
1 ,4 7 1,007
100.000
2 5,000
153,800
117,450

5 .1 1 per cent.

it h d r a w a l s

declared

nterest

Total Loans

$400 00

16
00
00
00
00

I

4 .8 1 per cent.

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits
D

of

$2,0 5 6 ,6 3 0 00

Salaries
A m ount paid for
89,980 00
% of total assets .2 5 1 8 of 1 %
D

180,077
100,000
2 5 ,000
146,400
59,100

ate

Other Loans

$50,000 00
107,800 00

7,400 00
5 8,350 00

.

S p e c if ie d R

ach

Loans on Personal
Security

.
.

E

b e a r in g

L

of

oans

N o. not exceeding $ 3,000 each
521
Am ount of same
.
. $701,821 74
N o. of loans on real estate .
617
Average am ount of same
.
$ 3,333 27
A m ount loaned on real estate
during year
.
.
. $ 1 4 7,785 00
N o. of new real estate loans
m ade during year .
.
61
D

ate

of

E

x a m in a t io n

,

April 29, 30

LOW ELL INSTITUTION FOR SAVINGS, LOW ELL
Branch Offices, Forge Village and Graniteville
President, A . S t . J o h n C h a m b r e
Clerk of the Corporation, E
Board of Investment:
Ch

G

eorge

as

. H . H

Incorporated Feb. 20, 1829.

B

o w ers

obso n

, E

,

Treasurer, E
dw ard

Joh

n

dw ard

B . Ca

dw ard

B. Ca

rn ey

rn ey

J. C o l t o n ,
B . Ca r n e y

H

a r ry

Open for business every business day, 9
Saturdays, 7 t o 9 p . m .

D

a .m

u n lap

.

to 1

,

p .m

.;

Deposits commence to draw interest the first Saturday of February, M ay, August and
Novem ber. Dividends are payable the M onday following the first Saturday of M ay
and Novem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

159

Lowell Institution for Savings — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A

L

ssets

$102,812
Public funds
.
.
.
.
695,551
Railroad bonds .
.
.
.
89,987
Street railway bonds
109,700
Bank and trust company stocks
Loans to counties, cities or towns . 885,093
25,000
“
“ railroad companies
700
“ on bank and trust co. stocks
“
“ real estate $1,746,727 22
Less, due on mtge. loans 8,867 50 1,737,859
1,546,250
Loans on personal security .
36,944
Bank building and fixtures .
64,891
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
2,343
mortgaged properties
8,704
Premiums .
82,456
Deposits in banks, on interest
8,151
Cash on hand
.
.
.
.

50
25
50
00
80
00
00

ia b il it ie s

.$5,035,730

Deposits .
Surplus:
Guaranty fund
Profit and loss

.

72
00
67
95
61
01
70
03
$5,396,446

$5,396,446 74

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

Shs.
344
161
473
30
89

277,518
83,198

.
.
.

$1 0 0 ,0 0 0

00

6 8 8 ,0 0 0

00

90,0 0 0 00
885,093 80

legal
.

Bank and Trust Company Stocks
Merchants National Bank, Boston
New England National Bank, Boston
Second National Bank, Boston
Old Lowell National Bank, Lowell
Union National Bank, Lowell .
• ,

Estimated
Market Value

Book Value

$99,192
674,462
89 ,5 5 0
8 6 7 ,6 2 4

$99,812
677,551
8 9 ,987
885,093

50
50
00
00

50
25
50
80

46,000 00

4 6,490 00

4 6,000 00

$ 1 ,8 09,093 80

$ 1 ,7 77,319 00

$ 1 ,7 9 8 ,4 4 5 05

$34,400
16,100
47,300
3,000
8 ,900

$74,648
2 2,540
1 01,695
3 ,000
15,130

$34,400
16,100
4 7,300
3 ,000
8 ,900

00
00

00
00
00

$109,700 00

00
00
00
00
00

$217,013 00

00
00

00
00
00

$109,700 00

----------♦-----------------------------------------------------------------

T otal A m ount

of

L oans

O c t . 31, 1908,

Loans on Real
Estate

Rate

3Jper cent.
3Ì
“
“
3 .3 0 “
“
3|
“
“
3i
“
“
3 .5 5 “
“
3|
“
“
3 .8 0 »
“
3£
“
“
3 .9 0 “
“
4
“
“
4|
“
“
4 tf
“
“

on

—

-

-

_

_

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

—

_

_
-

-

-

-

-

-

•

-

_

2 40,000 00
7 5 ,000 00

E a c h S p e c if ie d R a t e

Loans on Personal
Security

—

$122,029 10

.

b e a r in g

$52,950 00
-

of

I nterest

Other Loans

Total Loans

$36,650
54,210
3 3,260
88 ,8 5 4
211,740

$36,650
54,210
3 3,260
88 ,8 5 4
333,769

1 0 ,0 0 0

00
00
00
00
00
00

214,039 80

1 0 ,0 0 0

00
00
00
00
10
00

214,039 80

00

1 ,2 2 0

00

2 2 ,250 00
58,400 00
82,810 0 0
4 5 ,660 00

2 2 ,250
58,400
375,7 6 0
45,660
75,000

00
00
00
00
00

1 ,2 2 0

160

REPORT OF THE

[Pub. Doc,

Lowell Institution for Savings — Concluded
T otal A m ou nt

of

L oans

per cent.
“
“
“
“
4f
“
“
5
“
“
Si “
“
5i
“
“
5i “
“
6
“
“
6i
“
“
6i
“
“

Loans on Personal
Security

.
.
.
.
•
.
.
.
.
.

.
.
.
.
.
.
.
.
.

.

Average rate

$ 24,000 00

00

1 0 0 ,0 0 0

816,648 12

$ 1 2 8,500 00
50.000 00
412,7 5 0 00

00

2 1 1 ,0 0 0

263,200 00

7 3,000 00
2 6 ,682 50

Interest

Total Loans

$50,000 00
243,750 00

169.000 00
1 1 1 .0 0 0

ate of

Other Loans

$ 1 0 4,500 00

\\

T otals

O c t . 31, 1908, b e a r i n g E a c h S p e c if ie d R
— Concluded

Loans on Real
Estate

R ate

4|

on

2 7,700 00

00

1,107 ,5 4 8

12

1 0 0 ,0 0 0

00

1 0 0 ,0 0 0

00

1 0 0 ,0 0 0

00

1 0 0 ,0 0 0

00

4 3,400
517,950
5 0.000
25 .0 0 0

00
00
00
00

116,400
5 44,632
5 0.000
25 .0 0 0

00
50
00
00

$1,737,859 72

$1,5 4 6 ,2 5 0 00

$910,793 80

$ 4 ,1 94,903 52

4 .6 5 per cent.

5 .2 9 per cent.

3 .6 5 per cent.

4 .6 7 per cent.

T otal E xpen ses
Salaries
A m ount paid for
$11,461 67
% of total assets .2 1 2 3 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$800 00
.0 1 4 8 of 1 %

of

Advertising
$529 15
.0 0 9 8 of 1 %

St a t e T a x e s
Other Expenses
$ 1 ,845 75
.0 3 4 2 of 1 %

Total
$14,6 3 6 57
.2 7 1 0 of 1 % .

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $562,993 41
N um ber of same
7 ,995
A m ount of withdrawals
$811,821 62
N um ber of same
11,857
N et decrease in deposits
$66,529 56

B a n k B u il d in g
B ook value
.
Estim ated value
Assessed value .
N et income

D iv i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, l f %
. $85,717 44
M ay, 1908, 2 %
. 96,581 21 $ 1 8 2,298 65

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
M iddlesex S. D . & T . Co., Lowell
U nion National Bank, Lowell
W am esit National B ’k, Lowell
N aum keag N ’l Bank, Salem

$37,1 6 6 69
5.000 00
33,2 9 0 01

2.000 00
5 ,000 00

M is c e l l a n e o u s
N um ber of corporators, 3 5 ; trustees, 1 1
Gross income rec’d during year . $2 4 0 ,0 3 6 44
State ta x (net) paid “
“
.
16,710 03

and

.

F ix t u r e s
. $ 3 6 ,9 4 4
59.970
59.970
600

67
00
00
15

1 ,106
1,348
1 1,314
$445 09

St a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,000 each
183
Am ount of same
.
. $283,590 67
N o . of loans on real estate .
2 76
Average am ount of same
.
$ 6 ^ 9 6 59
Am ount loaned on real estate
during year
.
.
. $321,8 0 0 00
N o. of new real estate loans
m ade during year .
.
67
D ate

of

E x a m i n a t i o n , October 2 9 , 30

LUDLOW SAVINGS BANK, LUDLOW
President, J a m e s W . H a n n u m
Treasurer, G e o . A . B i r n i b
Clerk of the Corporation, G e o . A . B i r n i e
Board of Investment: J a m e s W . H

G e o . D . G r e e n , M. H . L y o n s, E . E . F u l l e r ,
W . S. C o l w e l l

annum,

Incorporated Feb. 23, 1888. Open for business every business d ay, 10
1 to 3 p . m . ; also W ednesdays and Fridays, 7.3 0 to 9 p . m .

a

.m .

to 12

m

.,

Deposits commence to draw interest the first d a y of January, April, July and O ctober
Dividends are payable the first d ay of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

161

BANK COMMISSIONER

No. 8]

Ludlow Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L ia b il it ie s

ssets

Public funds
Railroad bonds .
Street railway bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“ on depositors’ books .
“
“ real estate
“
“ personal security .
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand

$11,322 90
86,694 65

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

8,888 10
1,100 00

39,500
15,049
175
272,440
11,182
49,801
178
1,693

00
98
00
34

.

7,554 13
2,824 85

Interest, rents, etc.
Less current
Expenses .
.

00

13
84
75

$486,983 00

.

.

$782 84

.

118 13

$498,026 69

$498,026 69

.
.
.

of

L oans

6

“

T otals

.

“

•

T otal E xpen ses
Salaries
Am ount paid for
$900 00
% of total assets .1 8 0 7 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

for

6 ,1 0 0

00

$11,1 6 5
8 2,510
6 ,496
39 ,5 0 0

Y

$11,322
8 6 ,6 9 4
6,670
3 9,500

00
00
50
00

90
65
46
00

17,000 00

17,220 00

17,267 62

$156,891 50

$ 1 6 1,455 63

$ 1 ,2 0 0

00

$ 11,182

e a r , e x c l u s iv e

ate of

Other Loans

00

I nterest

Total Loans

175 00

$293,187 32
11,843 50
33 ,3 1 6 50

$54,7 2 4 98

$338,347 32

5 .0 0 per cent.

5 .1 2 per cent.

$54,549 98

00

5 .5 6 per cent.

$ 1 ,1 0 0

00

E a c h S p e c if ie d R

$3,642 00
2 ,400 00
5 ,140 00

Rent
$237 9 4
.0 4 7 7 of 1 %

Book Value

$159,600 00

b e a r in g

$ 2 3 4,995 34
9 ,443 50
28,001 50

5 .1 2 per cent.

Average rate

00

Loans on Personal
Security

$272,440 34

.

00

8 6 ,0 0 0

$1 ,0 0 0

O c t . 31, 1908,

Loans on Real
Estate

R ate

5 per cent.
5^ “
“

on

$1 1 ,0 0 0

3 9,500 00
legal
.

Shs.
Bank and Trust Company Stocks
10 City National Bank, H olyoke

T otal A m ount

Estimated
Market Value

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

664 71

of

St a t e T a x e s

Advertising
$9 59
.0 0 1 9 of 1 %

Other Expenses
$234 65
.0 471 of 1 %

Total
$1,382 18
.2 7 7 5 of 1%

162

REPORT OF THE

[Pub. Doc.

Ludlow Savings Bank — Concluded
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $ 1 3 5,636 60
N um ber of same
.
.
.
2,640
Am ount of withdrawals
.
. $169,527 95
N um ber of same
.
.
' .
2,020
N et decrease in deposits
.
. $16,221 72
D iv i d e n d s d e c l a r e d d u r in g Y e a &
April, 1908, 2 %
. $ 8 ,865 91
O ct., 1908, 2 %
.
8,803 72 $17,669 63
C a s h o n D e p o s it i n B a n k s
Chapin N ’l Bank, Springfield
Chicopee N ’l Bank, Springfield
Springfield Safe Deposit & Trust
Company, Springfield
Springfield N ’l B ’k, Springfield
Third National Bank, Springfield
U nion Trust Co., Springfield
Pynchon National B ’k, Springfield

$799 26
10,715 07
8,781
12,001
5,500
12,0 0 4
178

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

425
504
1,858
$262 10

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
211
Am ount of same
.
. $192,097 3 4
N o. of loans on real estate .
231
Average amount of same
.
$1,179 40
Am ount loaned on real estate
during year
.
.
. $1 2 ,0 1 0 0 0
N o. of new real estate loans
made during year .
11

31
15 D a t e
00
34
84*

of

E x a m i n a t i o n , October 16

M is c e l l a n e o u s
N um ber of corporators, 4 1 ; trustees, 23
Gross income rec’d during year . $ 2 3 ,5 9 4 56
State ta x (net) paid “
“
.
1,041 39
* In liquidation.

LYN N FIVE CENTS SAVINGS BANK, LYNN
President, R

E. H armon
Clerk of the Corporation, H

o l l in

Board of Investment: R

o l l in

Incorporated M ay 15, 1855.

Treasurer, H e n r y E . N e w h a l l
E. N ew hall

enry

E . H a r m o n , H e n r y A . P e v e a r , J a m e s S. N e w h a l l ,
R u f u s K im b a l l

Open for business every business day, 9
also Saturdays, 3 t o 6 p .m .

a .m .

to 1

p .m .;

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first d ay of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L ia b il it ie s

ssets

Public funds
. $561,817
Railroad bonds .
.1,420,394
Street railway bonds
.
1 0 ,0 0 0
Telephone company bonds .
8,737
Bank and trust company stocks .
59,737
Loans to counties, cities or towns . 102,684
“
“ railroad companies
.
80,000
“ on public funds .
. 138,700
“
“ railroad bonds
. 724,300
“
“ bank and trustco. stock« s
7,000
“
“ real estate $1,567,550 71
Less, due on mtge. loans 20,394 11 1,547,156
Loans on personal security .
.1,112,750
Bank building and fixtures .
.
33,661
Real estate by foreclosure, etc.
2,193
Taxes, insurance, etc., paid on
mortgaged properties
60
Stocks, bonds, etc., taken to secure
indebtedness .
4,875
Deposits in banks, on interest
92,830
Cash on hand
.
12,314
Checks and cash items
1,037

05
51
00

50
69
81
00
00
00
00

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.

.$5,336,644 14
.
.

271,000 0 0
220,133 48

92,473 97

60
00

99
64
90
00
16
71
03

$5,920,251 59

$5,920,251 59

BANK COMMISSIONER

No. 8]

163

Lynn Five Cents Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investm ents
.
.
.
.

Shs.
14
2
63
45
30
2 66
78

Estimated
Market Value

Par Value

Schedule of Securities Owned

.
.
.

$ 5 3 0,755
1 ,355,615
10,575
9 ,037
104,024
5,000

$524,335 00
1,371,000 00
1 0 ,0 0 0

00

1 0 ,0 0 0

00

102,684 81
5,000 00
legal
.

Bank and Trust Company Stocks
Boylston National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
Georgetown N ’l Bank, Georgetown
Essex Trust Company, Lynn
City National Bank, Lynn
Central National Bank, L ynn .

of

L oans

on

193,265 00

185,965 25
$ 2 ,1 83,633 87

.

200

00

2 ,2 0 5
4 ,500
3 ,000
2 6 ,600
7,800

00
00
00

$1,400
290
63
4 ,050
6,450
3 9,900
14,040

00

00

b e a r in g

“

“

.
.

$21,300 00

.

642,275 00

“

“

4i

“

“

4f

“

“

5

“

“

.

5i
5*

“
“

“
“

•
•

6
6*

“

“

.
.

T otals

.

Average rate

694,925 71
.

188,655 89

$66,193 00

$59,737 69

2 93.000 00
80 ,0 0 0 0 0
159,750 00

00

5 00
4 ,555 00
6 ,0 0 0

ate of

00

I nterest

Total Loans

Other Loans

$175,000 00
195.000 00
195.000 00

1 0 ,0 0 0

$ 24,575 00
99,109 81

2 0 ,0 0 0

00

2 0 ,0 0 0

00

229.0 0 0
60,000
230.0 0 0
50.000
4 0 .000

00

425,3 0 0
255,0 0 0
1,067 ,2 7 5
50.000
1 ,0 2 7 ,9 2 5
8 0 .000
653,4 0 5

00
00
00
00
71

00

00
00
00

305.0 0 0 00

1 0 ,0 0 0

00

00

89
00

$ 1 ,5 4 7 ,1 5 6 60

$ 1 ,1 07,750 00

$1,0 5 7 ,6 8 4 81

$3,712,591 41

5 .3 3 per cent.

5 .2 2 per cent.

5 .0 6 per cent.

5 .2 2 per cent.

T otal E xpen ses
Salaries
A m ount paid for
$15,157 43
% of total assets .2 5 6 0 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$ 1,375 00
.0 2 3 2 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
$ 1 ,2 11,097 15
Am ount of deposits .
3 5,965
N um ber of same
$ 1 ,4 72,347 19
A m ount of withdrawals
36,629
N um ber of same
$60,912 37
N et decrease in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

3 7,963 72
9 ,613 97

200

$24,5 7 5 00
9 9,109 81

.
•
.
.

4i

$1,400 00

00
00
00
00
00
00
00

E a c h S p e c if ie d R

3 f per cent.
4

00

8 ,737 50
102,684 81
5,000 00

$2,208,271 82

Loans on Personal
Security

Loans on Real
Estate

Rate

1 0 ,0 0 0

193,000 00

$1,400 00

O c t . 31, 1908,

$521,817 05
1 ,349,429 26

05
00
00
50
27
00

$ 2,216,019 81

$45,7 0 5 00

T otal A mount

Book Value

of

Advertising

State T axes
Other Expenses
$4,718 06
.0 7 9 6 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$21,250 49
.3 5 8 9 of 1 %

F ix t u r e s
. $33,661 99
.
3 4,000 0 0
.
32,600 0 0
1,407 36

164

REPORT OF THE

[Pub. Doc.

Lynn Five Cents Savings Bank — Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $ 99,981 08
July, 1908, 2 % .
. 1 0 0 ,3 5 6 59 $ 2 0 0 ,3 3 7

67

C a s h o n D e p o s it i n B a n k s
Merchants National Bank, Boston
N ational Shawmut Bank, Boston
Central National Bank, L yn n
.
National City Bank, L yn n .
.

48
77
59
32

$ 14 ,53 7
3 2 ,0 6 0
2 ,0 2 8
4 4,2 03

M is c e l l a n e o u s
N um ber of corporators, 6 1 ; trustees, 29
Gross income rec’d during year . $30 2 ,9 7 9 0 4
State ta x (net) paid “
“
.
1 9,167 69
D ate

op

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“

4,451
5,379
26,730
$199 64

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
578
Am ount of same
.
. $723,520 90
N o. of loans on real estate .
701
Average am ount of same
.
$ 2,207 07
Am ount loaned on real estate
during year
.
.
. $185,975 00
N o. of new real estate loans
made during year .
.
83

E x a m i n a t i o n , Novem ber 2 3 , 2 4

LYNN INSTITUTION FOR SAVINGS, LYNN
President, C h a r l e s S. P u r in t o n
Treasurer, F r e d e r i c k L . B u b i e r
Clerk of the Corporation, F r e d e r i c k L . B u b i e r
Board of Investment:

C h a r l e s S. P u r i n t o n , J o s e p h B . B r e e d , L u t h e r S. J o h n s o n ,
B e n j a m in F . S p i n n e y

Incorporated June 20, 1826. Open for business every business day, 9
also Saturdays, 2.3 0 to 5.30 p .m .

a .m .

to

1

p .m .;

Deposits commence to draw interest the first day of February, M ay, A ugust and N ovem ber
Dividends are payable the first day of M ay and N ovem ber

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
.
.
.
$748,500 00
Railroad bonds .
.
.
.1,359,812 50
Street railway bonds .
.
. 100,000 00
Boston Terminal Company bonds .
80,000 00
Bank and trust company stocks .
85,800 0 0
Loans to counties, cities or towns . 62,050 0 0
“ on bank and trust co. stocks 4,600 00
“ depositors’ books
.
.
397 00
“ real estate
.
.
.1,709,507 00
“ personal security
. .1,861,760 00
Bank building and fixtures
. .
40,000 00
Deposits in banks, on interest
.
250,747 50
Cash on hand
.
.
.
.
88,955 30
Checks and cash items
. .
4,431 7 4

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

.

.

$6,396,561 04

Schedule op Securities Owned

Public funds
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

.
.
.

.$5,854,019 06
.
.

295,000 00
247,541 98

$6,396,561 04

Par Value

Estimated
Market Value

$750,000 00
1 ,355,100 00

$745,350 63
1,442 ,0 5 8 50
9 9 ,7 5 0 00

1 0 0 ,0 0 0

00

Book Value
$748,500 00
1,348,812 50
1 0 0 ,0 0 0

00

BANK COMMISSIONER

No. 8]

165

Lynn Institution for Savings — Continued
Par Value

Schedule op Securities O wn e d

$80,000 0 0
6 2,050 00

Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

1 1 ,0 0 0

Bank and Trust Company Stocks
National Rockland Bank, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Second National Bank, Boston
Central National Bank, L ynn .
Essex Trust Company, L ynn
National City Bank, L ynn

00

1 0 ,0 0 0

00

of

L oans

2 1,300 00

O c t . 31, 1908,

_

per cent.

2

2\

“

“

3^ “
“
3 .6 0 per cent.
3f
“
“

4
4i

4i
4§
43

.

.

.

.

“

“
<<

“

a

.

“

“

.

“
“

“
“

“

“

“

11,500 00
1 ,071,052 00
2 ,850 00
3 20,380 00
-

“

6

“

“

.

61

“

“

•

T otals

—

.

Average rate

1 0 0 ,0 0 0

00
00
00
00

1 1 2 ,0 0 0

00

50,000
550,0 9 7
50,000
116,500
1 ,734,752
2 ,850
75,000
4 26,680

00
00
00
00
00
00
00
00

1 0 0 ,0 0 0

00

00

150,585 00
800 0 0

$1,8 6 1 ,7 6 0 00

$ 67,047 00

$ 3 ,6 3 8 ,3 1 4 00

4 .6 0 per cent.

3 .8 5 per cent.

4 .8 1 per cent.

5 .0 7 per cent.

Y

e a r , e x c l u s iv e

Rent
$241 80
.0 0 3 8 of 1 %

60

$1 0 0 ,0 0 0
129,000
14,800
6 ,500
18,750

00

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
$ 1 ,0 44,563 00
Am ount of deposits .
18,051
N um ber of same
$ 1 ,4 32,867 22
Am ount of withdrawals
20,183
N um ber of same
. $94,358 14
N et decrease in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-

00

$1,7 0 9 ,5 0 7 00

for

-

4,600 00
-

6 6,750 00
800 0 0

Salaries
Am ount paid for
$11,511 17
% of total assets .1 7 9 9 of 1 %

-

-

I nterest

Total Loans

337 00

-

00

ate of

00

75,000 00
106,300 00

00

1 0 ,0 0 0

$85,800 00

-

—

83,7 7 5 00
r-

T otal E xpen ses

2 2 ,0 0 0

2 0 ,0 0 0

21 ,3 0 0 00

_

00
00
00
00
00
00

00

$1 0 ,0 0 0 0 0
7,800 00
9 ,2 0 0 00
7,500 00

—
$ 14,800 00
6,500 00
18,750 00

-

7 5,000
50,000
3 44,810
50,000
105,000
659,100

00
00
00
00
00
00

Other Loan3

-

$15,000 00
2 04,950 00

“
“

5%

-

1 1 ,0 0 0

$2,3 5 0 ,3 6 2 50

00

E a c h S p e c if ie d R

$1 0 0 ,0 0 0 0 0
129,000 00
-

—

—

“
“
“

54
5 .1 0
5i

b e a r in g

00

$ 1 5 9,415 00

Loans on Personal
Security

Loans on Real
Estate

R ate

5f

on

$80,0 0 0 0 0
6 2,050 00

$ 16,500
2 2 ,620
14,720
1 6,125
3 6 ,000
2 1 ,500
31 ,9 5 0

$85,800 00

T otal A m ou nt

$78,400 00
6 1 ,862 19

$ 2,438,421 32

$1 0 ,0 0 0 0 0
7,800 00
9 ,200 00
7 ,500 00
2 0 ,0 0 0

Book Value

1 1 ,0 0 0

00

$ 2 ,3 58,150 00
Shs.
100
78
92
75
200
100
213

Estimated
Market Value

-

of

State T a x e s

Advertising
$289 00
.0 0 4 5 of 1 %

Other Expenses
$3,017 24
.0 4 7 2 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .

and

Total
$15,059 21
.2 3 5 4 of 1 %

F ix t u r e s
. $ 40,000 00
.
6 0,000 0 0
.
34,5 0 0 00

166

REPORT OF THE

[Pub. Doc

Lynn Institution for Savings — Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$109,841 20
O ct., 1908, 2 %
108,630 21
E xtra dividend: —
O ct., 1907, 1 4 %
75 ,4 7 4 67 $293,946 08

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

C a s h o n D e p o s it i n B a n k s
N ational Shawmut Bank, Boston $ 83,128
Central National Bank, L ynn
.
25 ,0 0 0
Essex Trust Company, L ynn
. 117,619
N ational Security Bank, L ynn
.
2 5 ,000

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3 ,000 each
473
Am ount of same
.
. $ 7 2 7,934 00
N o. of loans on real estate
.
598
Average amount of same
.
$ 2 ,858 71
Am ount loaned on real estate
during year
.
.
. $288,502 26
N o. of new real estate loans
made during year .
.
66

37
00
13
00

M is c e l l a n e o u s
N um ber of corporators, 6 1 ; trustees, 33
Gross income rec’d during year . $308,421 6 6
State ta x (net) paid “
“
.
2 0 ,i 2 6 59

D ate

of

1,871
2 ,048
15,732
$372 11

E x a m i n a t i o n , M ay 4

MALDEN SAVINGS BANK, MALDEN
President, R o s w e l l R . R o b in s o n
Treasurer, F r a n c is A . S h o v e
Clerk of the Corporation, F r a n c i s A . S h o v e
Board of Investment: A l l a n J. C h a s e , J o h n P. H o l d e n , R o s w e l l R . R
E v e r e t t J. S t e v e n s , D a n i e l P. W i s e , J o s e p h W i g g i n
Incorporated April 2, 1860. Open for business every business day, 8.3 0
also Saturdays, for deposits, 7 to 8.3 0 p .m .

o b in s o n ,

a .m .

to 1

p .m .

;

Deposits commence to draw interest the second W edn esd ay of January, April, July and
October. Dividends are payable the second W ednesd ay of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A

ssets

Public funds
. $911,452 0 0
Railroad bonds .
. 696,060 0 0
Street railway bonds
. 149,750 0 0
Boston Terminal Company bonds .
50,000 0 0
Telephone company bonds
.
22,600 0 0
Bank and trust company stocks .
18,300 0 0
Loans to counties, cities or towns .
84,150 0 0
“ railroad companies
.
59,942 0 0
“
on bank and trust co. stockis
2,500 0 0
“ real estate
.2,627,683 0 0
“ personal security
.1,207,185 0 0
Real estate by foreclosure, etc.
12,254 92
Deposits in banks, on interest
.
55,159 99
Cash on hand
2,296 8 8
Checks and cash items
75 0 0

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

.$5,492,140 35
.
.

Interest, rents, etc.
Less current
Expenses .

.

$8,672 16

.

1,009 79

$5,899,408 79

Schedule of Securities Owned

Public funds
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

.
.
.

209,000 0 0
190,606 07

7,662 37

$5,899,408 79

Par Value

Estimated
Market Value

Book Value

$890,250 00
684.000 00
150.000 00

$8 9 2 ,6 0 5 00
655,645 00
152,635 00

$888,452 00
676,060 00
149,750 00

No. 8]

BANK COMMISSIONER

167

Malden Savings Bank — Continued
Schedule of Securities Owned

Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

Shs.
Bank and Trust Company Stocks
23 Atlantic National Bank, Boston
27 First National Bank, Boston
30 Merchants National Bank, Boston
13 National Bank of Commerce, Boston
5 National Rockland Bank, Boston
10 Old Boston National Bank, Boston
7 State National Bank, Boston
6 8 First National Bank, Malden

T otal A m ount

of

L oans

on

Loans on Real
Estate

Rate

Estimated
Market Value

$ 50,000 00
2 5,000 00
8 4,150 00

$ 49,000 00
2 2 ,593 75
8 4 ,185 00
00

9 3 ,000 00

91,8 5 0 00

92 ,9 8 0 00

$ 1 ,9 86,400 00

$ 1 ,9 58,513 75

$ 1 ,9 7 3 ,9 5 4 00

$2,300
2,700
3,000
1,300
500

00
00
00
00
00

$3,220
8 ,478
6,510
2 ,080
825

00

$2,300
2 ,700
3 ,000
1,300
500

00
00
00
00
00

1 ,0 0 0

00

1 ,1 1 0

00

1 ,0 0 0

00

1 0 ,0 0 0

00

1 0 ,0 0 0

4i

“

“

.

«

«

4i

“

“

.

4f

“

“

.

5
5Ì

“

“

“

“

54 “
5|„ “

“
“

.
.
.
.
.

6

“

“

.

64

“

“

.

Totals

.

Average rate

.

.
.

$33,000
51,400
112,500
2 9 ,000
1 ,480,242

00

1,015 00
18,428 00

700 00
6,800 0 0

$18,300 00

$41,6 6 6 00

$18,300 00

b e a r in g

E a c h S p e c if ie d R a t e

Loans on Personal
Security

Other Loans

$9,000 00
•72,650 00

00
00
00
00
00

$2 0 , 0 0 0 0 0
421.000 00
27 ,7 8 5
40 ,0 0 0
201.5 0 0
181.000
176,400
139.500

256,200 00
665,341 00

5,000 00

00
00
00

49,980 00

00

of

I nterest

Total Loans

$ 9,000
105,650
7 1,400
538.500
29.0 0 0
1 ,558,007
4 0.000
4 57,700
181,000
851,7 0 3
139.500

00
00
00
00
00
00
00
00
00

00
00

9 ,9 6 2 00

$ 2 ,6 27,683 00

$ 1 ,2 0 7 ,1 8 5 00

$ 1 4 6,592 00

$3,9 8 1 ,4 6 0 00

5 .2 7 per cent.

5 .3 3 per cent.

4 .4 7 per cent.

5 .2 5 per cent.

.

T otal E xpen ses
Salaries
Am ount paid for
$9,373 64
% of total assets . 1588 of 1 %
D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
.
N um ber of same
.
.
Am ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00

700 00
6,800 0 0

3 f per cent.
4

Book Value

$50,0 0 0 00
22,6 0 0 0 0
8 4,150 00
9 ,9 6 2 00

.

O c t . 31, 1908,

Par Value

for

Y

e a r , e x c l u s iv e

Rent
$ 2,102 97
.0 3 5 6 of 1 %
d u r in g Y e a r
$ 1 ,0 4 8 ,6 8 4 2 2
.
2 2,439
$1,2 1 9 ,1 2 9 11
.
19,013
. $ 34,468 20

of

St a t e T a x e s

Advertising
$262 75
.0 0 4 4 of 1 %

Other Expenses
$1,587 80
.0 2 6 9 of 1 %

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 3 1 , 1908 .
Average balance “
“
.

00
00

Total
$13,327 16
.2 2 5 7 of 1 %

2,299
1,946
1 6 ,835
$326 23

REPORT OF THE

168

[Pub. Doc.

Malden Savings Bank — Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$102,079 78
O ct., 1908, 2 %
. 102,833 31 $204,913 09
C a s h o n D e p o s it i n B a n k s
Boston S. Dep. & T . Co., Boston .
First National Bank, Boston
N ational Shawmut B ’k, Boston .
W in th rop National Bank, Boston
First National Bank, Malden

$6,752 06

10,000 00
10,000 00
1 8,306 94
10,100 99

S t a t is t ic s o p L o a n s
N o. not exceeding $ 3,000 each
924
Am ount of same
.
.$ 1 ,3 4 8 ,9 7 8 00
N o . of loans on real estate .
1 ,116
Average am ount of same
.
$ 2 ,3 5 4 50
Am ount loaned on real estate
during year
.
.
. $ 2 6 7,186 00
N o. of new real estate loans
m ade during year .
.
118
D ate

op

E x a m i n a t i o n , M ay 6, 7

M is c e l l a n e o u s
N um ber of corporators, 4 4 ; trustees, 15
Gross income rec’d during year . $ 2 9 3,297 74
State ta x (net) paid “
“
.
14,295 29

MARBLEHEAD SAVINGS BANK, MARBLEHEAD
President, N a t h a n P . S a n b o r n
Treasurer, W il l i a m F . N u t t in g
Clerk of the Corporation, J o h n G . B r o u g h t o n
Board of Investment: N a t h a n P . S a n b o r n , E v e r e t t P a i n e , W
J ohn L. G il b e r t , F r a n k P . H am m ond
Incorporated March 18, 1871.

il l i a m

Open for business every business day, 8.3 0

L. H

ooper,

a .m .

to 1

Deposits commence to draw interest the first d ay of February, M ay, August
Novem ber. Dividends are payable the first d ay of M ay and N ovem ber

p .m .

and

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L

ssets

Public funds
.
.
.
.
$169,320 00
Railroad bonds .
.
.
.
37,890 00
Street railway bonds ,
14,550 00
Bank and trust company stocks
3,840 00
Loans to counties, cities or towns .
18,700 00
“
“ railroad companies
9,950 00
“
on real estate
76,665 00
Stocks, bonds, etc., taken to secure
6 ,0 0 0 0 0
indebtedness .
.
.
.
Deposits in banks, on interest
10,156 18
Cash on hand
.
.
.
.
1,221 57

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

ia b il it ie s

.

.

.

15,794 65
2,035 03

r

$348,292 75

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

.
.
legal
.

Shs.
Bank and Trust Company Stocks
20 M t. Vernon National Bank, Boston
54 Marblehead JNational Bank, Marblehead
3 8 National Grand Bank, Marblehead


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$330,463 07

$348,292 75

Par Value

Estimated
Market Value

Book Value

$175,000 00
4 1,000 00
19,500 00

$173,990 00
3 9,280 00
18,800 0 0

$169,320 00
37,890 00
18,700 00

2 5,000 00

25 ,0 0 0 00

2 4,500 00

$260,500 00

$257,070 00

$250,410 00

$1,690 00
3 ,240 00
3 ,800 00

$440 00

$40 00

4,370 00

3 ,800 00

$8,730 00

$4,810 00

$ 3,840 00

_

_

BANK COMMISSIONER

No. 8]

169

Marblehead Savings Bank — Concluded
T

otal

A m ount

of

L oans

T otals

O c t . 31, 1908,

b e a r in g

_

.
.
.

-

—

9 ,950 00

-

I nterest

$9,300
9 ,4 0 0
7,200
3 6,800
9 ,9 5 0

00
00
00
00
00

1 ,1 0 0

00

00

-

-

31,5 6 5 00

-

-

$76,665 00

-

$28,650 00

$ 1 0 5,315 00

5 .3 7 per cent.

-

4 .2 7 per cent.

5 .0 6 per cent.

1 ,1 0 0

.

Average rate

$9,300 00
9 ,400 00
-

—

_

of

Total Loans

Other Loans

—

$7,200 00
36,800 00

.
.
.
.
.

E a c h S p e c if ie d R a t e

Loans on Personal
Security

Loans on Real
Estate

Rate

3 4 per cent.
4
u
“
44 “
“
5
«
“
54 “
“
54 “
“
6
“
“

on

T otal E xpen ses

for

Salaries
A m ount paid for
$800 00
”% of total assets .2 2 9 7 of 1 %

Y

e a r , e x c l u s iv e

Rent
$100 00
.0 2 8 7 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
A m ou n t of deposits .
.
. $50,471 8 8
626
N um ber of same
$111,183 15
A m ount of withdrawals
1,001
N um ber of same
$48,459 1 6
N et decrease in deposits

31 ,5 6 5 00

of

State T a x e s

Advertising
$81 0 0
.0 2 3 2 of 1 %

Other Expenses
$186 17
.0 5 3 4 of 1 %

Total
$ 1,167 17
.3 3 5 0 of 1 %

D e p o s it A cc o u n ts
Num ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

151
288
1,549
$213 34

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
Am ount of same
.
. $51,9 6 5
N o. of loans on real estate .
Average am ount of same
.
$1,197
A m ount loaned on real estate
during year
.
.
.
$ 1,850
$ 1,302 00
8 ,8 5 4 18* N o. of new real estate loans
m ade during year .
.

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 6,136 71
O ct., 1908, 2 %
.
6 ,115 40 $12,252 11

74
00
64
89

C a s h o n D e p o s it i n B a n k s
W in th rop National Bank, Boston
N ’l Grand Bank, Marblehead
.

00

M is c e l l a n e o u s
N um ber of corporators, 8 0 ; trustees, 19
Gross income rec’ d during year . $16,0 5 6 35
S tate ta x (net) paid “
“
.
1 ,484 02

D ate

of

2

E x a m i n a t i o n , April 9

* This amount, in excess of the legal limit, has since been reduced.

MARLBOROUGH SAVINGS BANK, MARLBOROUGH
President, W

D. B urdett
Treasurer, C h a r l e s F . H
Clerk of the Corporation, C h a r l e s F . H o l y o k e

il l i a m

Board of Investment: W

i l l ia m D .
W alter

B u r d e t t , B e n j a m in F . G r e e l e y , W
B . M o r s e , L o u is P. H o w e

olyoke

alter

P.

Frye,

Incorporated April 3, 1860. Open for business every business day, except Saturdays
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 12.30 p .m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the third W ednesd ay of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF THE

170

[Pub. Doc

Marlborough Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
L ia b il it ie s

Public funds
.
.
.
.
$414,925
Railroad bonds .
.
.
.
667,637
Street railway bonds .
.
. 43,000
Boston Terminal Company bonds .
75,000
Telephone company bonds .
.
22,625
Bank and trust company stocks .
70,200
6 8 ,0 0 0
Loans to counties, cities or towns .
“
“ railroad companies
.
1 0 ,0 0 0
“ on bank and trust co. stocks
10,500
“ real estate
.
.
. 891,863
“
“ personal security
.
. 75,335
Bank building and fixtures .
.
40,350
Real estate by foreclosure, etc.
.
45,920
Taxes, insurance, etc., paid on
mortgaged properties
.
.
1,054
Deposits in banks, on interest
.
44,062
Cash on hand
.
.
.
.
2,577

00
50
00

00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$2,297,476 20
.

00
00
00
00
00

Interest, rents, etc.
. $24,249 42
Less current
Expenses . $3,003 72
Taxes,
.
2,074 21
5,077 93

19

Teller’s overs

245 33

51
73
57

8

60
52
50
15
107
100
14
8

.
.
.

legal
.

Bank and Trust Company Stocks
Boylston National Bank, Boston
Faneuil H all National Bank, Boston .
First National Bank, Boston
Fourth National Bank, Boston .
Mechanics National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston .
National Bank of the Republic, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W eb ster & A tlas N ’l Bank, Boston
First National Bank, Clinton
First National Bank, Marlborough
Peoples National Bank, Marlborough
New ton National Bank, New ton
City National Bank, W orcester .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,483,050 50

Estimated
Market Value

Par Value

Schedule op Securities Owned

Shs.
12
70
46
12
5
50
15
50
125
25

19,171 49

00

$2,483,050 50

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

120,204 19
45,953 29

$ 4 0 5,000
669,000
43,000
75,000
25 ,0 0 0

00
00
00
00
00

6 8 ,0 0 0

00

2 0 ,0 0 0

00

$408,610
648,960
44 ,1 3 5
7 3 ,500
2 2,593
67,770

00
00
00
00
00
00

2 0,500 00

Book Value

$4 0 4 ,9 2 5
667,637
4 3,000
75,000
2 2 ,6 2 5

00
50
00
00
00

6 8 ,0 0 0

00

2 0 ,0 0 0

00

$ 1 ,3 05,000 00

$1,2 8 6 ,0 6 8

00

$1,3 0 1 ,1 8 7 50

$1 ,2 0 0 0 0
7,000 00
4,600 00

$ 1 ,2 0 0
9 ,660
1 4,444
1,920
50
10,850
2,400
2 ,500
36 ,2 5 0
4 ,000
1,720
8 ,700
52
7 ,250
1,800
1 3,375
11,500
700

00

$1 ,2 0 0 0 0
7,000 00
4 ,600 00

1 ,2 0 0

00
-

5,000 00
1,500 00
-

12,500 00
2 ,500 00
800 0 0
6 ,0 0 0

00

1,820 0 0
5,000 00
1,500 00
10,700 00
1 0 ,0 0 0

00

700 00
$ 72,020 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00

00
00
00

1 ,2 0 0

00
-

5,000 00
1,500 00
12,500 00
2,500 00
800 0 0
6 ,0 0 0

00
-

5,000 00
1,500 00
10,700 00
1 0 ,0 0 0

00

00

700 00
-

$128,379 00

$70,200 00

8

No. 8]

BANK COMMISSIONER
Marlborough Savings Bank —

171

Concluded

T o t a l A m o u n t o f L o a n s o n O c t . 31, 1908, b e a r i n g E a c h S p e c i f i e d R a t e o f I n t e r e s t

Loans on Real
Estate

R ate

3£
3|

Loans on Personal
Security

Other Loans

Total Loans

$1 0 ,0 0 0
2 9.000
7.000
4 .000
13.000
5.000

$ 1 0 ,0 0 0
2 9 .000
181,800
4.000
124,900
5.000

per cent.
“
“

“
«

$174,800 00

4*
4-J4 .6 0
4f

“
“
“

“
“

8 1 ,900 00

“

“
“

5
5i

“
“
“
“

“
“
“
“

4

5f
6

T otals

8 ,0 0 0

$30,000 00

8 .0 0 0

v

2 0 ,500 00

22 ,1 8 5 00
11,400 00
1 0 ,0 0 0

311,913 00
.

00
00
00
00
00

00

2 98,920 00
16,330 00

Average rate

00

00

00
00

00
00
00
00

341,6 0 5 00
2 7 ,730 00

00

1 0 .0 0 0

1,750 00

00

3 13,663 00

$891,863 00

$75,3 3 5 00

$ 88,500 00

$1,0 5 5 ,6 9 8 00

5 .1 1 per cent.

5 . 0 0 per cent.

4 .2 4 per cent.

5 .0 3 per cent.

T o t a l E x p e n s e s f o r Y e a r , e x c l u s iv e o f St a t e T a x e s

Salaries
Am ount paid for
$5,741 00
% of total assets .2 3 1 2 of 1 %

Rent
$ 1,375 03
.0 5 5 3 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits

$371,611 70
5,932
$461,010 43
5,784
$ 2 ,235 16

D iv id e n d s d e c l a r e d d u r in g Y e a r

Jan., 1908, 2 % .
July, 1908, 2 % .

. $43,7 7 4 00
. 43,389 57

C a s h o n D e p o s it in

$87,163 57

B anks

First N ’l Bank, Marlborough
Peoples N ’l Bank, Marlborough

$22,0 0 4 72
2 2,058 0 1

M is c e l l a n e o u s

of

Other Expenses
$1,351 79
.0 5 4 4 of 1 %

B a n k B u il d in g a n d

Book value
.
Estim ated value
Assessed value .

Total
$ 8,508 08
.3 4 2 5 of 1 %

F ix t u r e s

.
.
.

. $40,350 00
.
4 0,350 00
.
36,3 9 5 00

D e p o s it A c c o u n t s

Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

881
973
7,792
$294 85

S t a t is t ic s o f L o a n s

.
.

N um ber of corporators, 5 6 ; trustees, 20
Gross income rec’d during year . $107,1 8 6 51
State ta x (net) paid “
“
.
5 ,828 63
D ate

Advertising
$40 26
.0 0 1 6 of 1 %

N o. not exceeding $3,000 each
403
A m ount of same
.
. $ 4 3 2,546 00
N o. of loans on real estate .
451
Average am ount of same
.
$1,977 52
Am ount loaned on real estate
during year
.
.
. $95,310 00
N o. of new real estate loans
m ade during year .
.
39

E x a m i n a t i o n , M ay 14, 15

MECHANICS’ SAVINGS BANK, HOLYOKE
P r e s id e n t, L e m u e l S e a r s
T rea su rer, C h a r l e s
C l e r k o f th e C o r p o r a t i o n , N a t h a n P. A v e r y
B o a rd of In v e stm e n t: L e m u e l S e a r s , H e n r y E . G a y l o r d , H .

B . P rescott

P. T e r r y , H

enry

G. Sears,

C h a r l e s E . M a c k in t o s h

Incorporated March 16, 1872. Open for business every business day, except Saturdays,
9 a .m . to 4 p .m . ; Saturdays, 9 a .m . to 12 m . ; also Thursdays, 7 to 8 p .m .
Deposits commence to draw interest the first day of February, M ay, August and
Novem ber. Dividends are payable after third M onday of M ay and N ovem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

172

R E PO R T OF THE

[Pub. Doc

Mechanics’ Savings Bank, Holyoke — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
$25,000 0 0
Public funds
.
31,700 0 0
Railroad bonds .
3,500 0 0
Street railway bonds .
26,200 0 0
Telephone company bonds .
Bank and trust company stocks
102,977 0 0
Loans to counties, cities or towns . 245,500 0 0
45,000 0 0
“
“ railroad companies
“
on bank and trust co. stocks
2 2 ,2 0 0 0 0
00
1.44S.222
“
“ real estate
.
232,661 8 6
“
“ personal security .
16,119 44
Real estate by foreclosure, etc.
Stocks, bonds, etc., taken to secure
6 ,0 0 0 0 0
indebtedness .
500 0 0
Furniture and fixtures
132,129 73
Deposits in banks, on interest
6,043 2 0
Cash on hand
.
.
.
.
1,753 61
Checks and cash items

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

.$2,122,450 03
89,240 00
81,882 08

Interest, rents, etc.
Less current
Expenses .

$55,981 65
4,173 92

127 00

$2,345,506 84

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
11

418
282
3
50
50

$2,345,506 84

Par Value

Schedule op Securities Owned

.
.
.

$ 25,000 00
1 0 ,0 0 0

00

3 ,500 00
3 0 ,000 00
2 45,500 00

legal
.

Bank and Trust Company Stocks
First National Bank, Boston
City National Bank, H olyoke .
H a dley Falls National Bank, H olyoke
H olyoke National Bank, H olyoke
H om e National Bank, H olyoke
Third National Bank, Springfield

of

L oans

3 .6 0 per cent.
3f
“
“
3 .8 5 “
“
3 .9 0 “
“
4
“
“

.

4^
4f
5
5i

»
“
“
“

“
“
“
“

:

6

“

“

.

Book Value

$25,700
9 ,8 5 0
3 ,652
2 7,112
2 4 8 ,4 3 5

$ 25,000
9 ,600
3 ,500
2 6,200
245,5 0 0

$383,617 00

$376,900 00

00

00
00

00
00
00

b e a r in g

$3 ,4 5 4
50,160
38 ,9 1 6
540
6,250

00
00
00
00
00

1 0 ,0 0 0

00

$109,320 00

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,4 4 8 ,2 2 2 00
5 .0 0 per cent.

128,280

00

6 2,175 00
17,206 8 6
$232,661

86

5 .1 5 per cent.

$630
46,9 5 4
4 1 ,0 4 4
348
5,500
8 ,5 0 0

50
00
50
00
00
00

$102,977 00

ate of

I nterest

Total Loans

$25,000 00
5 0 .000 00
35 .0 0 0 00

00

1 0 .0 0 0

00

68,500 00

00
00
00
00
00
00

5,000 00

68,500
25 .0 0 0
5 0.000
1 ,616,227
2 5.000
64,175
24,681

$312,700 00

$ 1 ,9 93,583

86

$25,000 00

2 ,4 7 5 00

00

00

$384,000 00

$25,0 0 0 00
5 0.000 00
3 5.000 00

$ 1,445,747 00

00
00
00

67,100 00

1 0 .0 0 0

Average rate

00
00
50
50
00

68,867 00

$ 1 ,1 0 0
41,800
2 8,200
300
5,000
5 ,000

O c t . 3 1 , 190 8 ,

Loans on Real
Estate

Rate

Totals

on

Estimated
Market Value

7 0 ,000 00

$ 81,400 00

T otal A m ou nt

51,807 73

Suspense account

50.000 00
4 2,200 00
2 5 .0 0 0 00
2 ,0 0 0

00

4 .3 0 per cent.

86

4 .9 0 per cent.

173

BANK COMMISSIONER

No. 8]

Mechanics’ Savings Bank, Holyoke — Concluded
T

otal

E

xpen ses

for

Am ount paid for
$ 6 ,628 01
% of total assets .2 8 2 6 of 1 %
D

e p o s it s a n d

W

Y

,

e x c l u s iv e

.
.
.
.

Y

State

D

ear

iv id e n d s

declared

o v ., 1907, 2 %
M ay, 1908, 2 %

. $ 39,618 21
. 39,271 80

N

Cash

on

D

Y

d u r in g

e p o s it

in

B

M

Total

e p o s it

$8 ,2 9 4 26
.3 5 3 6 of 1 %

A

ccounts

Num ber opened during year
“
Num ber closed
“
T otal number O ct. 31, 1908 .
Average balance “
“
.
of

L

766
809
4 ,875
$435 39

oans

N o. not exceeding $3,000 each
382
A m ount of same
.
. $517,202 00
N o. of loans on real estate .
437
Average amount of same
.
$ 3 ,3 1 4 01
Am ount loaned on real estate
during year
.
.
. $75,480 00
N o. of new real estate loans
m ade during y e a r ' .
.
20

ear

$78,890 01

anks

$1,623 19
47 ,8 8 6 42
5 0.000 00

First National Bank, Boston
City National Bank, H olyoke
H olyoke N ’l Bank, H olyoke
H a d ley Falls N ’l B ’k, H olyoke
H om e N ’l Bank, H olyoke .
Produce N ’l Bank, So. Deerfield
Pynchon N ’l Bank, Springfield

a xes

$902 13
.0 3 8 4 of 1 %

S t a t is t ic s
D

T

Other Expenses

$129 12
.0 0 5 5 of 1 %

. $392,647 02
.
5,860
. $467,825 90
.
4,829
.
$3,711 13

.

of

Advertising

$635 00
.0271 of 1 %

it h d r a w a l s d u r in g

Am ount of deposits
.
N um ber of same
.
A m ount of withdrawals
N um ber of same
.
N et increase in deposits

ear

Rent

Salaries

20.000 00
10,000 00
2 ,500 00

D

120 12*

ate

of

E

x a m in a t io n

,

September 28,

29, 30

is c e l l a n e o u s

N um ber of corporators, 4 8 ; trustees, 17
Gross income rec’d during year . $113,575 8 8
State ta x (net) paid “
“
.
2 ,772 3£
* In liquidation.

MECHANICS’ SAVINGS BANK, LOW ELL
President, C h a r l e s L . H i l d r e t h
Treasurer, C h a r l e s C . H
Clerk of the Corporation, C h a r l e s C . H u t c h i n s o n
Board of Investment:
H

Jacob R ogers, Claren ce H . N elson , W
C. P e r h a m , C h a r l e s C. H u t c h in s o n

alter

u t c h in s o n

L. P

a r k e r

,

aven

Incorporated March 1, 1861.

Open for business every business day, 9
also Saturdays, 7 to 9 p . m .

a .m

.

to 1

p .m

.;

Deposits commence to draw interest the first Saturday of March, June, September and
December. Dividends are payable on the M onday following the first Saturday of
June and December.
B

A

alance

eet

, O

ctober

31, 1908
L ia b il it ie s

ssets

Public funds
Railroad bonds .
Street railway bonds
Bank and trust company stocks
Loans on depositors’ books .
“
“ real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Sh

$604,000
523,850
175,000
20,245
50
1,055,414
571,825
71,000
6,010
20,996
6,060
2,152

00
00
00
00
00
08
00
00
39
83
29
89

$3,056,604 48

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.
.
.

.$2,838,654 71
.
.

.
.

155,000 00
5,730 20

Interest, rents, etc.
. $62,526 23
Less current
Expenses . $3,987 8 6
Taxes
.
1,318 80
5,306 6 6

57,219 57
$3,056,604 48

174

REPORT OF THE

[Pub. Doc

Mechanics’ Savings Bank, Lowell— Concluded
Par Value

Estimated
Market Value

Book Value

$605,000 00
530.000 00
175.000 00

$ 6 0 0,638 75
508,9 2 5 00
174,250 00

$604,000 00
523,850 00
175,000 00

$ 1,310,000 00

$ 1 ,2 83,813 75

$ 1 ,3 02,850 00

$845 00
10,500 00
3 ,900 00

14,700 00
6,630 00

$845 00
15,500 00
3 ,900 00

$15,2 4 5 00

$21,550 00

$20,245 00

Schedule of Securities Owned

Public funds
.
Railroad bonds
.
Street railway bonds

.
.

.
.
.

.
.
.

.
.
.

.

Shs.
Bank and Trust Company Stocks
10 M t. Vernon National Bank, Boston
105 New England N ’l Bank, Boston
39 Union National Bank, Lowell .

T

A

otal

m ount of

L

oans

on

4 per cent.
4Ì «
“
4* “
“
5
“
“
Si “
“
5f “
“
“

.
.

.
•

.

.

.
4,100 00

.

T

otal

E

e p o s it s

and

W

iv id e n d s

Cash

on

D

for

Y

e a r

of

E

d u r in g

Y

ear

Y

d u r in g

ear

. $ 56,156 02
. 5 5,555 53 $111,711 55

x a m in a t io n

B


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

,

$50 00

08
00
00
00
00
00
00

, EXCLUSIVE OF STATE T A X E S

Rent

Advertising
$158 30
0052 of 1 %
B

an k

B

Other Expenses
$320 32
.0 1 0 4 of 1 %

u il d in g

and

F

Total
$ 10,158 80
.3 323 of 1 %
ix t u r e s

Book value
Estim ated value
Assessed value .
N et income
e p o s it

A

$71,000
64.000
64.000
1,709

00
00
00
72

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

426
522
5,163
$549 81

anks

.
.

$ 3,388 48
17,608 35

is c e l l a n e o u s

ate

$119,592
75.000
353,3 7 5
8 30,222
145,000
5 0.000
54,100

4 .8 6 per cent.

N um ber of corporators, 4 0 ; trustees, 17
Gross income rec’d during year . $137,499 64
State ta x (net) paid “
“
.
8 ,5 9 5 13
D

Total Loans

$ 1 ,6 27,289 08

State National Bank, Boston
Union National Bank, Lowell
M

n terest

$50 00

$ 2 8 5,514 99
2 ,6 1 4
$435,802 6 8
4,198
$38,5 7 6 14

in

00
00
00
00
00
00
00

I

5 .0 0 per cent.

it h d r a w a l s

e p o s it

Other Loans

of

$ 5 7 1,825 00

xpen ses

declared

ate

4 .9 5 per cent.

D
D

S p e c if ie d R

ach

4 .7 9 per cent.

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

D ec., 1907, 2 % .
June, 1908, 2 % .

E

00

$ 1 ,0 5 5 ,4 1 4 08

Salaries
A m ount paid for
$9,680 18
% of total assets .3 1 6 7 of 1 %
D

$29,725
75.000
9 5 .000
*127,100
145,000
50.000
50.000

258,3 7 5 00
703,072 00

Average rate

b e a r in g

$220

Loans on Personal
Security

$89,867 08
.
.

“

Totals

31, 1908,

ct.

Loans on Real
Estate

R ate

6

O

.

Novem ber 18

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3,000 each
382
A m ount of same
.
. $424,257 0 0
N o. of loans on real estate .
463
Average amount of same
.
$2,279 51
A m ount loaned on real estate
during year
.
.
. $113,149 00
N o. of new real estate loans
made during year .
.
30

175

BANK COMMISSIONER

No. 8]

MECHANICS’ SAVINGS BANK, READING
President, E

dw ard

H. P a lm e r
Clerk of the Corporation, E

Board of Investment: E

dw ard

H. P

, M

alm er

Treasurer, L
N. H

dgar

oses

E. N

M. B

e w is

ancroft

u nt

ic h o l s ,

E

dw ard

F. P

ark er

Incorporated March 20, 1891. Open for business every business day, except Saturdays,
8.3 0 to 11 a . m ., 2.3 0 to 4 p . m . ; Saturdays, 8.30 a . m . to 12 m .
Deposits commence to draw interest the first Saturday of M arch, June, September and
December. Dividends are payable the second Saturday of June and December

B

A

Sh

alance

eet

, O

31, 1908

ctober

L

ssets

Public funds
Railroad bonds .
Street railway bonds
Bank and trust company stocks
Loans to counties, cities or towns
“ on real estate
“
“ personal security
Furniture and fixtures .
Deposit in bank, on interest .
Dash on hand
Checks and cash items

2.100 00
39,350
130,920
17,698
500
5,752
1,465
900

ia b il it ie s

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

#12,441 69
87,334 38
5.100 00
00
00
20
00
07
28
09

.

.

$286,349 36
6,311 73
6,013 36

Interest, rents, etc.

4,887 26

$303,561 71

$303,561 71

Estimated
Market Value

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns

$ 12,135
8 2,612
4 ,9 7 5
39 ,2 8 5

$1 2 ,0 0 0 0 0
8 5,000 00
5,000 00
3 9,350 00

.
.
.

$141,350 00
Shs.
Bank and Trust Company Stocks
21 First National Bank, Reading, .

T

otal

A

m ount of

L

oans

on

O

ct.

$2 , 1 0 0

31, 1908,

E

ach

“

“

.

.

4

“

“

.

.

•
.
.

.
.

H

“

“

5
6

“
“

“
“

Totals

.

otal

00

E

$ 11,775 00
5,923 20

115,010 00
14,710 00

I

n terest

$2,850
400
2,300
3 5,000
126,785
2 0,633

00
00
00
00
00
20

$130,920 00

$17,698 20

$39,350 00

$ 1 8 7,968 20

5 .1 0 per cent.

5 .3 3 per cent.

4 .4 0 per cent.

4 .9 6 per cent.

xpen ses

Salaries
Am ount paid for
$448 14
■% of total assets .1 4 7 6 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1 ,1 0 0

00

of

00

Total Loans

Other Loans

$2,850 00
400 00
$ 1 ,2 0 0

$2 , 1 0 0

ate

35,000 00

Average rate

T

S p e c if ie d R

69
38
00
00

$ 1 4 4,226 07

$1,890 00

00

3^- per cent.
3|

$12,441
8 7 ,3 3 4
5,100
39 ,3 5 0

00
50
00
25

$139,007 75

Loans on Personal
Security

Loans on Real
Estate

R ate

b e a r in g

Book Value

for

Y

e a r

,

Rent
00
.0 2 1 7 of 1 %
$66

e x c l u s iv e

of

Advertising
$24 00
.0 0 7 9 of 1 %

State

T

a xes

Other Expenses
$325 56
.1 0 7 2 of 1 %

Total
$863 70
.2 8 4 4 of 1 %

176

REPO RT OF THE

[Pub. Doc

Mechanics’ Savings Bank, Reading — Concluded
D

e p o s it s

and

W

it h d r a w a l s

Am ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et decrease in deposits

d u r in g

.
.
.
.

Y

D

ear

. $ 7 1 ,9 3 4 87
.
1,546
. $ 92,585 60
.
1,581
. $11,225 51

.

e p o s it

A

S t a t is t ic s
D

iv id e n d s

declared

D ec., 1907, l f %
June, 1908, I f %
Cash

on

D

.
.

e p o s it

$4,763 97
4,661 2 5
in

B

$9 ,4 2 5 22

.

of

L

2 84
192
1,658
$172 70

oans

N o. not exceeding $3,000 each
103
Am ount of same
.
. $ 1 2 9,168 20
N o. of loans on real estate
89
Average am ount of same
L,471 01
A m ount loaned on real estate
during year
5,325 00
N o. of new real estate loans
m ade during year .
8-

ear

ank

First National Bank, Reading
M

Y

d u r in g

ccounts

Num ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
“
Average balance “

$5,752 07

is c e l l a n e o u s

N um ber of corporators, 2 3 ; trustees, 12
Gross income rec’d during year . $13,670 87
State ta x (net) paid “
“
.
822 61

D

ate

of

E

x a m in a t io n

,

August 24

MEDFORD SAVINGS BANK, MEDFORD
President, G

eorge

Board of Investment:
Incorporated Feb.

O. F o s t e r
Clerk, of the Corporation, J. G

G eorge
E dw ard

26,

1869.
3 to 6

O. F

oster

F. A

llen

, E dw
, H ar

Treasurer, C h a r l e s B . B
il m a n

ard
ve y

W

uss

a it e

S. R a n d a l l , C h
A . H an scom

Open for business every business
. ; also Saturdays, 7 to 9 p . m .

H .

arles

day,

P

a r k e r

to 11

8

a .m

,.

.,.

p .m

Deposits commence to draw interest the first Saturday of February, M ay, August and
Novem ber. Dividends are payable the second Saturday of M ay and N ovem ber

B

A

alance

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

ssets

Public funds
Railroad bonds .
Street railway bonds
Bank and trust company stocks
Loans on real estate
“
“ personal security .
Bank building and fixtures .
Real estate in possession
Deposits in banks, on interest
Cash on hand
Checks and cash items

. $140,500
. 595,626
. 121,906
.
80,650
.1,167,582
. 287,082
.
2 0 ,0 0 0
.
22,623
.
64,283
3,131
1,633

00
00
00
00

79
98

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$2,302,345 94
.

00

44
51

Interest, rents, etc.

53,932 82

00

43

$2,505,019 15

Schedule of Secuhities Owned

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Bonds and notes which are
investm ents
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

116,200 0 0
32,540 39

.
.
.
.
.
.
.
not now legal
.
.
.

$2,505,019 15

Par Value

Estimated
Market Value

Book Value

$140,500 00
582,000 00
5 0,000 00

$142,8 3 5 00
588,822 50
4 9,750 00

$140,500 00
585,626 00
50,000 00

7 8,000 00

78,640 00

8 1 ,9 0 6 00

$ 8 5 0,500 00

$860,047 50

$ 8 5 8,032 00

177

BANK COMMISSIONER

No. 8]

Medford Savings Bank— Concluded

Shs.
10
50
80
100
100
75
80
75

Estimated
Market Value

Par Value

Schedule of Securities Owned

Bank and Trust Company Stocks
Commercial National Bank, Boston .
Fourth National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston .
National Shawmut Bank, Boston
New England National Bank, Boston
Second National Bank, Boston
State National Bank, Boston

00

1 0 ,0 0 0

. 00

1 0 ,0 0 0

00

7 .500 00
8 ,0 0 0

00

7.500 00

otal

A

m ount of

L

oans

“
“
“
“
“
“

4f
5
5i
6

;;

•

“
“
“

.
■
■
.

T otals

ct.

.
•
•

.

T

E

otal

and

W

D

iv id e n d s

Cash

on

D

of

E


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Total Loans

Other Loans

$1,800
8 0,500
50.000
50.000
1 ,1 3 0 ,5 0 4
4 4.000
97,861

00

00
00
00

5 .0 1 per cent.

.
d u r in g

B

,

terest

-

. $39,671 07
. 44,449 26

x a m in a t io n

In

4 .9 7 per cent.

for

Y

e a r

,

e x c l u s iv e

Rent
$ 1,116 73
.0 4 4 6 of 1 %
Y

ear

. $308,609 00
.
6,219
. $459,699 02
.
5,932
. $66,969 69
Y

ear

$84,120 33

of

State

B

an k

B

. $52,4 1 6 06
.
7 ,2 0 6 44
.
4,661 01

January 31

T

u il d in g

68

00
09

a xes

Total
$7,827 44
.3 1 2 3 of 1 %

Other Expenses
$1,401 71
.0 5 5 9 of 1 %

Advertising
$31 00
.0 0 1 2 of 1 %

and

Book value
.
Estim ated value
Assessed value .

ix t u r e s

$20,000 00
20 ,4 5 0 00
20 ,4 5 0 00

N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

617
619
6 ,904
$333 48

D

e p o s it

A

.
.
.

F

.
.
.

S t a t is t ic s

anks

is c e l l a n e o u s

ate

of

5 .0 2 per cent.

N um ber of corporators, 8 2 ; trustees, 17
Gross income rec’d during year . $118,359 40
State ta x (net) paid “
“
.
5,425 78
D

ate

$1,4 5 4 ,6 6 5 77

N ’l B ank of Commerce, Boston
N ’l Shawmut Bank, Boston
Medford N ’l Bank, Medford
M

$80,650 00

-

.
.
.
.

in

00
00
00
00
00

$ 2 8 7,082 98

it h d r a w a l s d u r in g

e p o s it

00
00
00
00

$1,1 6 7 ,5 8 2 79

xpen ses

declared

00

S p e c if ie d R

ach

Loans on Personal
Security

$50,000
50.000
5 0.000
58,100
2 5.000
5 3 ,982

00

00

-

A m ount of deposits
.
N um ber of same
.
A m ount of withdrawals
N um ber of same
.
N et decrease in deposits

N o v ., 1907, l f %
M ay, 1908, 2 %

E

6 ,0 0 0

12,800
11,400
17,500
9 ,7 5 0
13,200
9 ,000

00
00
00
00
00
98

Salaries
Am ount paid for
$ 5,278 00
% of total assets .2 1 0 6 of 1 %
e p o s it s

b e a r in g

1 ,0 7 2 ,4 0 4 6 8
19,000 00
4 3 ,878 11

Average rate

D

31, 1908,

$1,800 0 0
3 0,500 00

per cent.

4i
4*

O

Loans on Real
Estate

R ate

4

on

00

00

00

$110,335 00

$57,000 00

T

$1 ,0 0 0

8 ,0 0 0

17,360
16,000
2 9 ,000
10,500
17,200
10,875

$ 1,400 00

$1 ,0 0 0 0 0
5.000 00
8 .0 0 0

Book Value

ccounts

of

L

oans

N o. not exceeding $ 3 , 0 0 0 each
491
A m ount of same
.
. $742,890 37
N o. of loans on real estate .
581
Average amount of same
.
$2,009 60
A m ount loaned on real estate
during year
.
.
. $118,950 00
N o. of new real estate loans
made during year .
.
61

178

R E PO R T OF TH E

[Pub. Doc,

M ED W AY SAVINGS BANK, M EDW AY
President, A . E . B

Treasurer, W . H . U

ullard

Clerk of the Corporation, W . H . U

pton

pton

Board of Investment: A . E . B u l l a r d , G e o . W . B u l l a r d , S. G . C l a r k , W . P . C l a r k ,
*
F . C. C l a r k , W . L . P a l m e r , E . F . R i c h a r d s o n
Incorporated Feb. 2 0 , 1871. Open for business every business day, except Saturdays,
9 a . m . to 12 m ., 2 to 5 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the first d ay of March, June, September and
December. Dividends are payable on or after the fifteenth of June and December

B

A

alance

Sh

eet

, O

31, 1908

ctober

L ia b il it ie s

ssets

Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds .
Loans to counties, cities or towns
“
on real estate
“
“ personal security .
Deposits in banks, on interest
Cash on hand

. $65,400 00
. 143,960 00
.
1 0 ,0 0 0 0 0
7,030 00
.
35,889 07
. 141,155 96
.
35,054 00
703 36
745 61

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.

20,519 03
11,912 60

Interest, rents, etc.

8,700 59

$439,938 00

$439,938

Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$62,400
144,000
1 0 ,0 0 0

00

8 ,0 0 0

00

15,000

14,597

00

Shs.
Bank and Trust Company Stocks
30 Central National Bank, Boston .

T

otal

A

m ount of

L

oans on

Totals

ct.

31, 1908,

Loans on Real
Estate

R ate

4 per cent.
4^ “
“
5
“
“
5i
“
“
5i “
“
6
“
“
6J
“
“

O

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

b e a r in g

E

Loans on Personal
Security

.

.
.
.
.

ach

1 0 ,0 0 0

00

00

13,950

00

$600

00

00

00

$262,279 07

00

S p e c if ie d R

Other Loans

$500 07
13,089 00
2 0,500 00

ate

of

In

terest

Total Loans

$500
13,089
84 ,6 8 5
1,450
17,600
9 2 ,9 7 4
1,800

07
00
96
00
00
00

2 ,600 0 0
90 ,3 7 0 00

$16,000 0 0
1,450 00
15,000 00
2 ,6 0 4 00

$141,1 5 5 96

$ 3 5 ,0 5 4 00

$ 35,889 07

$212,099 03

5 .6 4 per cent.

5 .2 9 per cent.

4 .8 9 per cent.

5 .4 6 per cent.

$48,185 96
.
.
.
.

$2,850

$62,400
133,010

7,030 0 0
35,889 07

$267,010 82

$265,289 07

00

Book Value

$64,329 75
134,255 0 0
10,700 0 0
7,240 0 0
35,889 07

00
00

35,889 07
legal
.

$398,805 78

1,800

00

00

BANK COMMISSIONER

No. 8]

179

Medway Savings Bank — Concluded
T

E

otal

xpen ses

for

A m ount paid for
$1,300 00
% of total assets .2 9 4 7 of 1 %

D

e p o s it s a n d

W

Y

,

e x c l u s iv e

of

State

iv id e n d s

declared

D ec., 1907, 2 %
June, 1908, 2 %

Ca sh

on

D

.
.

e p o s it

Total

$150 00
.0 3 4 0 of 1 %

$29 02
.0 0 6 5 of 1 %

$396 6 6
.0 8 9 9 of 1 %

$ 1,875 6 8
.4 2 5 1 of 1 %

•

Y

.

D

ear

$85,280 12
1,155
$99,512 04
1,410
$832 9 4

d u r in g

Y

$7,497 52
7,567 3 4

in

B

ear

$ 1 5 ,0 6 4

86

anks

Eliot National Bank, Boston
.
N ational Shawmut Bank, Boston

M

axes

Other Expenses

A

e p o s it

ccounts

$78 8 8
624 48

of

L

oans

N o. not exceeding $ 3,000 each
134
Am ount of same
.
. $119,019 96
N o. of loans on real estate .
129
Average amount of same
.
$ 1 ,0 9 4 23
Am ount loaned on real estate
during year
.
.
. $ 13,950 00
N o. of new real estate loans
made during year .
13

D

is c e l l a n e o u s

140
182
1,669
$238 9 4

Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“

S t a t is t ic s
D

T

Advertising

it h d r a w a l s d u r in g

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

e a r

Rent

Salaries

ate

of

E

x a m in a t io n

N ovem ber 2

,

N um ber of corporators, 3 2 ; trustees, 10
Gross income rec’d during year . $21,6 7 4 62
State ta x (net) paid “
“
.
1,331 10

MELROSE SAVINGS BANK, MELROSE
President, M

oses

S. P

Treasurer, F

age

Clerk of the Corporation, F
Board of Investment: M

oses

ran k

M. H

S. P a g e , Ch a r l e s H . A
C h a r l e s C. B a r r y

ran k

M. H

oyt

oyt

dam s,

Joh

n

L

arra b e e

,

Incorporated April 5, 1872. Open for business every business day, except Saturdays,
8 a . m . to 2 p . m . ; Saturdays, 8 a .m . to 12 m . , and 7 to 9 p . m .
Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the third W ednesday of January and July

B

A

alance

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

ssets

$180,875 00
Public funds
.
32.000 00
Railroad bonds .
.
.
.
10.000 00
Street railway bonds .
38,860 00
Loans to counties, cities or towns .
34,800 00
“
“ railroad companies
490 00
“ on bank and trust co. stocks
100 00
“
“ depositors’ books .
809,622 8 8
“
“ real estate
401,888 25
“
“ personal security
2,720 38
Real estate by foreclosure, etc.
19,231 06
Deposits in banks, on interest
2,170 48
Cash on hand
.
.
.
.
2,583 00
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,535,341 05

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .
.

.

.

.$1,373,335 56
47,959 45
88,897 75

. $26,684 13
.

1,535 84

25,148 29

$1,535,341 05

180

R E PO R T OF THE

[Pub. Doc,

Melrose Savings Bank — Concluded
Schedule op Securities Owned

Estimated
Market Value

Par Value

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$181,000 0 0
2 9.000 00
1 0 .0 0 0

$182,237
28 ,0 5 5
10,700
3 9,010

00

3 8,860 00
•
45,000 00

legal
.

$303,860 00

T

otal

A

m ount of

L

O

oans on

ct.

31, 1908,

Loans on Real
Estate

R ate

6*

“
“
“
“
“
“
“
“
“
“

7

“

4V
4f
4f
5
5|
5Ì

5f
6

T otals

“
“

.
.
.
.
.

$10,250 00

494,552 78
8 2 ,353 96

•
.
.
.
.

222,4 6 6 14

$809,622

E

and

W

for

xpen ses

Salaries
A m ount paid for
$3,219 8 8
% of total assets .2 0 9 6 of 1 %
e p o s it s

88

5 .3 2 per cent.

otal

00

00
00
00
00
00
25
00
00

2 ,2 0 0

00

Y

.
.
.
.
.

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Cash

on

D

e p o s it

d u r in g

B

Y

of

In

terest

Total Loans

$ 33,860 00

$47,860 00

5,000 00

3 4,800 00

590 00

1 0 ,0 0 0

00

120,250
15.000
35 .0 0 0
5 76,352
35 .0 0 0
128,096
2 5.000
266,002

00
00
00
78
00
21
00
14

2 ,2 0 0

00

25 .0 0 0 00

4 .5 2 per cent.

5 .2 1 per cent.

,

e x c l u s iv e

State

of

Advertising
$236 94
0 154 of 1 %
D

ear

ear

$48,1 4 4 74

$19,231 06

is c e l l a n e o u s

N um ber of corporators, 4 9 ; trustees, 13
Gross income rec’d during year . $76,017 08
State ta x (net) paid “
“
.
2 ,7 5 8 56


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ate

5 .1 4 per cent.

an k

Melrose National Bank, Melrose .
M

3 9,800 00
$296,5 3 5 00

$1,285,761 13

. $375,987 34
.
8,160
. $329,683 82
.
6,057
. $94,448 26

. $23,6 5 4 27
. 2 4,490 47
in

43 ,4 7 5 00

$74,250 00

e a r

Y

00

$303,477 50

Other Loans

e p o s it

T

a xes

Other Expenses
$1,432 01
.0 9 3 2 of 1 %
A

Total
$5,488 83
.3 5 7 2 of 1 %

ccounts

Num ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
S t a t is t ic s

iv id e n d s

1 0 .0 0 0

3 8,860 00

$401,888 25

Rent
$600 00
.0 3 9 0 of 1 %

it h d r a w a l s d u r in g

Am ount of deposits .
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits
D

$180,875 00
27 .0 0 0 00

25 .0 0 0 00

.

T

1 0 ,0 0 0

105,000
15.000
3 5 .000
47.000
3 5 .000
4 5 ,742
2 5 .000
42 ,9 4 6

50
00
00
00

S p e c if ie d R

$14,000 00
.
.
.
.
.
.
•
.
.
.
.

“
“
“
“
“
“
“
“
“

Average rate

D

ach

Loans on Personal
Security

per cent.

4
R

E

b e a r in g

Book Value

of

L

1,053
637
6 ,194
$221 72

oans

N o. not exceeding $3,000 each
502
Am ount of same
.
. $692,722 8 8
N o. of loans on real estate .
529
Average amount of same
.
$1,530 4 8
A m ount loaned on real estate
during year
.
.
. $ 1 4 2,575 00
N o. of new real estate loans
made during year .
.
76
D

ate

of

E

x a m in a t io n

,

September 25

181

BANK COMMISSIONER

No. 8]

MERRIMAC SAVINGS BANK, MERRIMAC
President, T

H . H

homas

Board of Investment: T

Treasurer, F r e d e r i c k C. G
C. G r a n t

oyt

Clerk of the Corporation, F
hom as

H . H

o yt

, H

rant

r e d e r ic k

en ry

H . Sto

ry

, H

O. D

erbert

elano

Incorporated April 19, 1871. Open for business every business day, except Saturdays,
8.30 a . m . to 12 m . , 1.30 to 3 p . m . ; Saturdays, 8.30 a . m . to 12 m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the fourth W ednesday of April and October
B

A

alance

Sh

eet

, O

31, 1908

ctober

L

ssets

P u b lic fu n d s
.
.
.
.
R a ilr o a d b on d s .
.
.
.
S tr eet ra ilw a y b o n d s
B o s t o n T e rm in a l C o m p a n y b o n d s .
T e le p h o n e c o m p a n y b o n d s
.
B a n k a n d tru st c o m p a n y sto c k s
L oa n s t o cou n ties, cities o r to w n s .
“
“ ra ilroa d com p a n ie s
“
o n ra ilroa d stoc k s
“
“ b a n k a n d tru st c o . s to c k s
“
“ real estate
“
“ p ers on a l s e cu rity
.
R e a l esta te b y fore clo s u re , e tc.
S to c k s , b o n d s, e tc ., tak en t o secure
in d e b te d n e s s .
.
.
.
F u rn itu re a n d fixtures
D e p o s it in b a n k , o n in terest .
“
“
“
n o t o n in terest
C ash o n h a n d
.
.
.
.

$59,000
130,896
15,000
20,000
7,000
5,100
2,500
20,000
100
675
118,117
55,479
18,100

00
33
00
00
00
00
00
00
00
00
50
92
94

350
940
3,000
1,036
752

00
92
00
81
44

D e p o s its .
.
S u rplu s:
G u a r a n ty fu n d
P r o fit a n d loss

.

ia b il it ie s

$434,638 64

.

2 2,500 00
911 22

$ 458,049 86

$458,049 86

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

otal

A

m ount of

L

oans on

4L per cent.
5
“
“
“
“
“

T otals

“
“

ct.

.
•
.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•
•

$59,090
122,925
14,925
19,600
7 ,230
2 ,500
5,000

00
00
00
00
00
00
00

$59,000 00
130,896 33
15,000 00

15,000 '00

15,000 00

15,000 00

$257,500 00

$246,270 00

$254,396 33

$5,100 00

$5,100 00

$5,100 00

2 0 ,0 0 0

00

8 ,0 0 0

00

2 ,500 00
5,000 00
legal
.

31, 1908,

Loans on Real
Estate

R ate

5i
5*
6

O

Book Value

$59,000 00
133,000 00
15,000 00

.
.
.

Shs.
Bank and Trust Company Stocks
51 First National Bank, Merrimac .

T

Estimated
Market Value

Par Value

Schedule op Securities Owned

b e a r in g

E

ach

Loans on Personal
Security

$77,935 00

$479 92
2 5.000 00

300 00
39,882 50

15,000 00
5,000 00

1 0 .0 0 0

S p e c if ie d R

Other Loans

$ 2,500 00
2 0 ,0 0 0

00

2 0 ,0 0 0

ate

of

I

n terest

Total Loans

$2,979 92
122,935 00
1 0 ,0 0 0

00

275 00
500 00

00

7 ,000 00
2 ,500 00
5,000 00

00

15,575 00
4 5,382 50

$118,117 50

$ 55,479 92

$23,2 7 5 00

$196,872 42

5 .3 4 per cent.

5 .2 6 per cent.

4 .9 7 per cent.

5 .2 7 per cent.

182

R E PO R T OF THE

[Pub. Doc,

Merrimac Savings Bank — Concluded
T

E

otal

xpen ses

for

Salaries
Am ount paid for
S I ,510 35
% of total assets .3 2 9 7 of 1 %

D

e p o s it s a n d

W

it h d r a w a l s

A m ount of deposits
.
N um ber of same
.
A m ount of withdrawals
N um ber of same
.
N et decrease in deposits

Y

ear

,

e x c l u s iv e

Rent
S220 00
.0 4 8 0 of 1 %

d u r in g

.
.
<.
.
.

Y

State

of

Advertising
S26 50
.0 0 5 8 of 1 %

D

ear

. $43,963 27
.
736
. $71,982 74
.
1,047
. $11,196 77

e p o s it

iv id e n d s

declared

April, 1908, 2 %
O ct., 1908, 2 %

Ca sh

on

D

.
.

e p o s it

$8,429 22
8 ,393 48

B

in

ear

$16,822 70

an k

First National Bank, Merrimac

M

Y

d u r in g

.

$ 4,036 81

a xes

A

Total
$ 2 ,078 24
.4 5 3 7 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

S t a t is t ic s
D

T

Other Expenses
$321 39
.0 701 of 1 %

of

L

91

102
1,468
$296 07

oans

N o. not exceeding $3,000 each
84
A m ount of same
$84,071 42
N o. of loans on real estate .
88
Average amount of same
$ 1,342 24
A m ount loaned on real estate
during year
$4,400 00
N o. of new real estate loans
made during year .
7

is c e l l a n e o u s

N um ber of- corporators, 4 0 ; trustees, 16
Gross income rec’d during year . $20,693 44
State ta x (net) paid “
“
.
1,354 31

D

ate

of

E

x a m in a t io n

,

July 20

MERRIMACK RIVER SAVINGS BANK, LOW ELL
President, C h

as

.

E. A d a m s
Treasurer, N
Clerk of the Corporation, N . G . L a m s o n

Board of Investment:

Ch

as

W

Incorporated Feb. 24, 1871.

. F. Y arnum , P erley P. P er
m . H . F u l le r , N . G . L am son

h am

ath an

, H

G. L

erbert

Open for business every business day, 9
also Saturdays, 7 t o 9 p . m .

a .m

am son

C. T

a ft

,

. to 1 p .m . ;

Deposits commence to draw interest the first Saturday of February, M ay, August and
Novem ber.
Dividends are payable M onday after the first Saturday of M ay and
Novem ber

B

alance

Sh

eet

, O

ctober

31, 1908

A ss e t s

Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“ railroad companies
on public funds .
depositors’ books .
real estate
“ personal security
Real estate by foreclosure, etc.
in possession
Deposits in banks, on interest
Cash on hand


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.

$9,000 0 0
320,750 0 0
44,200 0 0
9,037 50
43,400 0 0
1 ,0 0 0

.
.

25,000
25,000
699
.1,154,252
. 807,149
7,155
.
24,200
.
14,485
4,215

00
00
00
00

L ia b il it ie s

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.

.

.

.$2,234,501 96
.

117,000 00
75,546 10

62,497 30

57
00

72
00

84
73

$2,489,545 36

$2,489,545 36

183

BANK COMMISSIONER

No. 8]

Merrimack River Savings Bank — Continued
Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

S'ns.
25
20
28
25
31
40
51
54
31
27
102

$9,000 00
294,000 00
45,000 00

.
.
.

A

m ount of

L

oans on

4f

5
5i
5i
5f
6
6i
6i
7

“
“
“
“
“
“
“

“
“
“
“
“
“
“

“
“

“
“

T otals

O

.
.

.
10,300 00
.
.
.
.
•

28,2 3 5 00

.

T

E

otal

W

$ 3 9 5,385 00

$408,987 50

2 ,0 0 0

00

2,800
2 ,500
3 ,100
4,000
5,100
5,400
3,100
2,700

00

$ 3,500
3 ,900
3 ,8 6 4
7,850
4,960
4,800
8 ,160
5 ,9 9 4
4 ,4 9 5
3 ,9 1 5
10,302

1 0 ,2 0 0

00

00
00
00
00
00
00
00

b e a r in g

E

$2,500 00

00
00
00
00
00
00
00
00
00
00

S p e c if ie d R

ate

In

terest

Total Loans

$45,000
456.300
125,000
8 8 3 ,0 1 6
25.0 0 0
236.3 0 0
5 0.000
7 6 ,6 8 4
25.0 0 0
5 0.000
65.000

$31,699 00

00
2 0 ,0 0 0

00

of

00

00
00
00
00
00

1 0 ,2 0 0

00

$ 43,400 00

Other Loans

00
00
00

00

00
00
00
00
00
00
00

00

$61,740 00

ach

2 ,0 0 0

2 ,800
2,500
3 ,100
4,000
5,100
5,400
3 ,100
2,700

00

00
00
00
57
00
00
00
00
00
00
00

$807,149 00

$51,699 00

$2,0 3 7 ,3 0 0 57

5 ?3 5 per cent.

5 .3 9 per cent.

5 .0 8 per cent.

xpen ses

it h d r a w a l s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00

4 .8 9 per cent.

A m ount paid for
$6,649 9 8
% of total assets .2 671 of 1 %
e p o s it s a n d

1 ,0 0 0

$1,1 7 8 ,4 5 2 57

Salaries

Am ount of deposits
.
N um ber of same
.
A m ount of withdrawals
N um ber of same
.
N et decrease in deposits

00

$414,000 00

$2 1 0 , 0 0 0
125.000
2 ,700
2 5.000
226.000
50.000
28,449
2 5.000
50.000
65.000

8 48,617 57

.
.
.
.
.
.
.
.

1 ,0 0 0

30,000 00

Loans on Personal
Security

$45,000 00
2 46,300 00

.
.

00
00
00
50

28,900 00

$2,500 00

31, 1908,

$9,000
290,7 5 0
4 4,200
9 ,0 3 7

3 0 ,000 00

legal
.

Loans on Real
Estate

Average rate

D

ct.

00
50
00
50

2 5,000 00

$43,400 00

R ate

4 per cent.
4i “
“

00

$9,090
277,582
4 4,775
9 ,0 3 7

2 5,000 00

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Eliot National Bank, Boston
Faneuil H all National Bank, Boston .
First National Bank, Boston
Fourth National Bank, Boston
Metropolitan National Bank, Boston .
National Bank of Commerce, Boston .
Old Boston National Bank, Boston
State National Bank, Boston
W ebster & A tlas National B ’k, Boston
W am esit National Bank, Lowell

otal

00

1 ,0 0 0

Book Value

25,000 00

*

T

1 0 ,0 0 0

Estimated
Market Value

.
.
.
.
.

for

Y

e a r

,

e x c l u s iv e

of

State

T

a xes

Kent

Advertising

Other Expenses

$500 00
.0 2 0 0 of 1 %

$85 15
.0 0 3 4 of 1 %

$607 09
.0 2 4 4 of 1 %

d u r in g

Y

ear

D

e p o s it

A

Total
$ 7,842 22
.3 1 4 9 of 1 %

ccounts

Num ber opened during year
. $2 4 0 ,8 2 6 81
N um ber closed
“
“
.2,380
. $385,867 94 T otal num ber O ct. 31, 1908 .
Average balance “
“
.
.3,147
. $57,749 98

381
439
3 ,7 1 6
$601 32

184

RE PO R T OF THE

[Pub. Doc.

Merrimack River Savings Bank — Concluded
D

iv id e n d s

declared

N o v ., 1907, 2 %
M ay, 1908, 2 %
Cash

on

D

Y

d u r in g

. $44,1 2 5 8 6
. 43 ,1 6 5 29

e p o s it

in

B

S t a t is t ic s

$87,291 15

anks

State National Bank, Boston
.
W am esit National Bank, Lowell .
M

ear

$ 3 ,0 8 4 10
11,401 74

is c e l l a n e o u s

N um ber of corporators, 2 6 ; trustees, 26
Gross income rec’d during year . $ 1 2 5,048 09
State ta x (net) paid “
“
.
5,370 35

of

L

oans

N o. not exceeding $3,000 each
296
A m ount of same
.
. $44 0 ,2 1 4 0 0
N o. of loans on real estate .
393
Average amount of same
.
$ 2 ,998 60
A m ount loaned on real estate
during year
.
.
. $ 98,475 00
N o. of new real estate loans
m a d e d u rin g y e a r .
.
28
D ate

of

E x a m i n a t i o n , October 26

MIDDLEBOROUGH SAVINGS BANK, MIDDLEBOROUGH
President, D

a v id

G. P

Board of Investment: D

Treasurer, A n d r e w
M. W o o d

ratt

Clerk of the Corporation, A
a v id

G. P

ratt

, G

M. W

ood

n d rew

eorge

R. Sa m p so n , G

eorge

Incorporated March 15, 1873.
Open for business every business day,
2 to 4 p . m . ; also M ondays, 7 to 8 p . m .

9

«E. D
a .m

.

oane

to 12

m

.,

Deposits commence to draw interest the first M onday of January, April, July and
October.
Dividends are payable the first M onday of April and October

B

alance

Sh

eet

, O

ctober

31, 1908

A ssets

Public funds
Railroad bonds
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
railroad companies
on real estate
personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
Checks and cash items .

. $146,160 25
. 296,175 0 0
.
60,000 0 0
8,800 0 0
3,900 0 0
.
80,750 0 0
.
25,000 0 0
. 882,990 0 0
. 133,850 0 0
.
40,000 0 0
.
36,825 0 0
.
42,054 74
561 80
176 0 0

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

.

.

.$1,636,759 16
82,000 0 0
33,784 34

Interest, rents, etc.
Less current
Expenses .

.

$4,725 24
25 95

$1,757,242 79

Schedule of Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
Street railway bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
Bank and Trust Company Stocks
11 Tremont National Bank, Boston
12 Middleborough NT B ’k, Middleborough
27 Plym outh .National Bank, Plym outh .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

4,699 29

$1,757,242 79

Par Value

$147,000 0 0
291,000 0 0
60,000 0 0
1 0 ,0 0 0 0 0

80,750 0 0

Estimated
Market Value
$145,262
271,705
61,370
9 ,037
8 0,750

50
00
00

50
00

Book Value

$146,160
286,175
60/100
8,800
80,750

25
00
00
00
00

35,000 0 0

3 4,550 0 0

35,000 0 0

$623,750 0 0

$602,675 0 0

$616,885 25

$385 0 0
1 ,2 0 0 0 0
2,700 0 0
$ 4,285 0 0

$11 0 0

1,500 0 0
3 ,0 2 4 0 0
$4,535

00

$ 1 ,2 0 0 0 0
2,700 0 0

$3,900

00

No. 8]

BANK COMMISSIONER

185

Middleborough Savings Bank — Concluded
T

otal

A

m ount of

L

oans on

$21,500
63,000
553,565
53 ,0 7 5
191,850

per cent.

41

“

“

5

“
“
“

“
“
“

6

T otals

.
.

.
.

T

E

otal

Loans on Personal
Security

W

00
00
00
00
00

2 8,716 00
25,850 00
44,2 8 4 00

iv id e n d s

C ash

on

D

$ 1 ,1 22,590 00
5 .1 3 per cent.

for

Y

e a r

,

e x c l u s iv e

Rent
$500 00
.0 2 8 4 of 1 %

it h d r a w a l s d u r in g

Y

Y

d u r in g

B

in

B

ear

ank

of

E

x a m in a t io n

,

axes

B

u il d in g

and

F

Total
$ 5,446 58
.3 0 9 7 of 1 %
ix t u r e s

e p o s it

A

$40,000
47,000
3 6,000
1,819

$62,181 67

00
00
00
87

ccounts

546
449
5,342
$306 39

anks

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3,000 each
397
Am ount of same
$375,949 00
N o. of loans on real estate .
391
Average amount of same
$ 2,258 28
Am ount loaned on real estate
during year
.
.
. $45,600 00
N o. of new real estate loans
made during year .
.
30

is c e l l a n e o u s

ate

T

Other Expenses
$ 1 ,246 58
.0 7 0 8 of 1 %

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

ear

N um ber of corporators, 3 5 ; trustees, 20
Gross income rec’d during year . $82,381 58
S tate ta x (net) paid “
“
.
3 ,3 0 6 99
D

State

Book value
Estim ated value
Assessed value .
N et income

$17,674 26
Atlantic National B ’k, Boston
W inth rop National B ’k, Boston .
17,639 77
Middleborough National Bank,
Middleborough
6,140 71
600 0 0 *
Pynchon N ’l Bank, Springfield .
M

of

Advertising

$241,953 67
4,273
$303,296 27
3 ,926
$839 07

. $ 31,050 93
. 31,130 74

e p o s it

5,000 00

00
00
00
00
00

$105,750 00

xpen ses

declared

$ 83,050
9 6 ,200
623,281
7 8,925
2 4 1 ,1 3 4

4 .5 4 per cent.

D
D

n terest

Total Loans

$46,550 00
13,200 00
4 1,000 00

00

I

of

$133,850 00

A m ount of deposits .
N um ber of same
A m ount of withdrawals
Num ber of same
N e t increase in deposits

April, 1908, 2 %
O ct., 1908, 2 %

Other Loans

$15,000 00
2 0 ,0 0 0

ate

5 .2 4 per cent.

Salaries
A m ount paid for
$3,700 00
'% of total assets .2 1 0 5 of 1 %
and

S p e c if ie d R

ach

$882,990 00

5- ,

e p o s it s

E

b e a r in g

5 .1 8 per cent-.

.

Average rate

D

31, 1908,

ct.

Loans on Real
Estate

R ate

4

O

October 23
* In liquidation.

MIDDLESEX INSTITUTION FOR SAVINGS, CONCORD
President, H

ar ve y

W

Treasurer, C h a r l e s E . B

h eeler

Clerk of the Corporation, H
Board of Investment:

H

a r ve y

W

h eeler

Stedm

, E

an

erbert

dw ard

B

W . H

J. B

row n

osm er

artlett

, L

o r in g

N. F

o w le r

,

u t t r ic k

Incorporated March 4, 1835.
Open for business every business day, except Saturdays,
9 a . m . to 2 p . m . ; Saturdays, 9 a . m . to 12.15 p .m .
Deposits commence to draw interest the first day of March, June, Septem ber and
December. Dividends are payable the first day of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

[Pub. Doc

R E PO R T OF TH E

186

Middlesex Institution for Savings — Continued
B

A

alance

Sh

eet

, O

31, 1908

ctober

L ia b il it ie s

ssets

$2 0 , 0 0 0
473,600
45,000
53,550
31,675

Public funds
Railroad bonds .
Street railway bonds .
Boston Terminal Company bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“
on real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand

1 0 ,0 0 0

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

00
00
00
00
00
00
00
00

24,000
35,000
676,885 71
550,400 0 0
10,500 0 0
5,000 0 0
29,000 0 0
4,501 64
693 72

.

. $1,835,321 39

.

93,800 00
3,326 22

Interest, rents, etc.
. $40,214 31
Less current
Expenses . $2,750 11
Taxes
.
105 74 2,855 85

$1,969,806 07

$1,969,806 07

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

.
.
.

legal
.

Shs.
Bank and Trust Company Stocks
3 Concord National Bank, Concord .
1 Central National Bank, Boston
2 Trem ont National Bank, Boston, .

T

otal

A

m ount of

L

oans on

O

ct

.

31, 1908,

Loans on Real
Estate

R ate

$2 0 , 0 0 0
435,000
4 5,000
5 0 ,000
3 5,000
2 4,000

00

60,000

00
00
00
00
00

H
4f
5
5i
5i

5f
6

6i
6i

“

“
“
“
“
“
»
“
“
“

Totals

Book Value

$19,550
427,5 2 5
44 ,8 7 5
49,0 0 0
31,631
2 3 ,5 0 5

$2 0 , 0 0 0
4 5 1 ,4 7 5
45,000
53,550
3 1 ,6 7 5
2 4 ,000

00
00
00
00
25
00

.
.
.
.
.

.

.

.

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$631,877 71
15,650 00
2 9 ,358 00

00
00
00
00
00

5 9,025 00

57,125 00

$690,261 25

$717,825 00

$1 0 ,0 0 0 0 0
9 5 00
70 00

$15,000 00

$ 10,165 00

$ 15,022 00

b e a r in g

E

ach

Loans on Personal
Security

20

00

2

00

S p e c if ie d R

Other Loans

$1 0 ,0 0 0

$1 0 ,0 0 0

ate

of

I

Total Loans

00

00
00
00
00

1 0 .0 0 0

00

1 0 .0 0 0

35 ,0 0 0 00

00

00

n terest

$126,000
7 5 .000
30 .0 0 0
8 0.000
150,000
25 .0 0 0
2 9,400
25 .0 0 0

00
00

00

-

$15,0 0 0
9 ,000
126,000
75.000
696,877
8 0.000
165,650
2 5.000
5 8 ,758
2 5.000

$ 15,000 00
9 ,0 0 0 00
.
.
.
.
.

00

00

“

“
“
“
“
“
“
“
“
“

Estimated
Market Value

$704,000 00

3^ per cent.
4

37,358 46

00
00
00

00
71
00

00
00
00
00
00

$ 6 7 6,885 71

$ 5 5 0,400 00

$59,000 00

$ 1 ,2 8 6 ,2 8 5 71

5 .0 5 per cent.

5 .1 9 per cent.

4 .4 6 per cent.

5 .0 8 per cent.

BANK COMMISSIONER

No. 8]

Middlesex Institution for Savings —
T otal E xpen ses

for

Salaries

Y

e a r , e x c l u s iv e

Rent

A m ount paid for
$5,8 7 5 00
% of total assets .2 9 8 2 of 1 %

d u r in g Y e a r
. $ 2 4 0,798 33
.
4,077
. $341,863 77
.
3,943
. $30,641 39

D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, 2 %
. $35,251 65
June, 1908, 2 %
. 3 5,172 40 $70,424 05
C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
Concord National Bank, Concord

$19,000 00
14,501 64

M is c e l l a n e o u s
N um ber of corporators, 1 9 ; trustees, 11
Gross income rec’d during year . $94,425 62
State ta x (net) paid “
“
.
5,973 29
of

C oncluded

St a t e T a x e s

Advertising

$522 47
.0 2 6 5 of 1 %

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

D ate

of

187

Total

Other Expenses
$384 15
.0 1 9 5 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

$6,781 62
.3 4 4 2 of 1 %

F ix t u r e s
. $10,500 00
.
12,000 00
.
8 ,500 00

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

564
560
5,617
$326 74

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
256
A m ount of same
.
. $362,710 71
N o. of loans on real estate .
306
Average am ount of same
.
$ 2,212 04
Am ount loaned on real estate
during year
.
.
. $109,600 00
N o. of new real estate loans
made during year .
.
36

E x a m i n a t i o n , Novem ber 13

MILFORD SAVINGS BANK, MILFORD
President, Z ib e o n C. F i e l d
Treasurer, J a m e s E . W
Clerk of the Corporation, J a m e s E . W a l k e r

alker

Board of Investment: C h a r l e s F . C l a f l i n , Z i b e o n C. F i e l d , C l if f o r d A . C o o k
Incorporated April 24, 1851. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 1 p .m .
Deposits commence to draw interest the second Saturday of January, April, July and
October. Dividends are payable the second Saturday of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

A ssets
. $467,000 00
P u b lic fu n d s
. 574,612 50
R a ilr o a d b o n d s .
. 125,000 00
S treet ra ilw a y b on d s
B o s t o n T erm in a l C o m p a n y b o n d s .
50,000 00
.
4 3,125 00
T e le p h o n e c o m p a n y b o n d s
.
.
72,097 50
B a n k a n d tru st c o m p a n y sto c k s
L oa n s t o cou n ties, cities o r to w n s . 113,300 00
.
25,000 00
“
“ ra ilroa d com p a n ie s
.
60,000 00
“
o n ra ilroa d b on d s
“
“ b a n k a n d tru st co . s to c k s
4,930 00
250 00
“
“ d e p o s ito r s ’ b o o k s .
. 614,090 54
“
“ real estate
. 567,262 50
“
“ p erson a l s e cu rity
.
25,000 00
B a n k b u ild in g a n d fixtu res .
.
29,630 60
R e a l esta te b y fore clo s u re , e t c .
.
23,351 83
D e p o s its in b an k s, on in terest
9,879 11
“
“
“
n o t o n in terest
735 23
Cash o n h a n d


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,805,264 81

D e p o s its .
.
S urplus:
G u a r a n ty fu n d
P ro fit a n d loss

.

.

.$ 2 ,6 2 7 ,6 5 2 12
.

130,588 41
47,0 24 28

$2,805,264 81

188

R E PO R T OF TH E

[Pub. Doc,

Milford Savings Bank — Continued
Schedule op Securities Owned

Par Value

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or tow ns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
10
25
56
100
47
33
12
80
260

T

.
.

A

m ount of

L

oans on

O

ct.

“
“
“
“
“
“
“
“
“

7

T otals

“

■
.
.
.
.
.
•
.

61,000

00

61,050

00

$1,394,818 75

$1,398,037 50

$ 1 ,0 0 0

00

$ 1 ,0 0 0

00

1

00

5,600

00

31, 1908,

“
“
“
“
“
“
“
“

.
•

.
.

00
00

1 0 ,0 0 0

00

4,700
3,300

00

1 ,2 0 0

00

8 ,0 0 0

00

26,000

00

$1,400
25
17,584
29,000
7,520
4,785
1,740
12,800
41,600

$59,800

00

$116,454

b e a r in g

E

00

00
00
31
00
00
00
23

8 ,400 0 0
15,000 0 0
7,496 50
3,300 0 0

00
00
00
00

1 ,2 0 0

00

00

8 ,0 0 0

00

27,700

00

00

$72,097 50

00

ate

Other Loans

otal

E

W


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

I

nterest

$ 70,500
25 ,9 0 0
127.400
4 8 ,500
2 5 2 ,7 5 6
53.000
523,852
2 01.400
55 ,6 7 4
25 .0 0 0
850

2 ,9 5 0 00
33 ,8 5 0 00
700 00
180 0 0

00
00
00
00
31
00
50
00
23
00
00

$ 5 6 7,262 50

$203,480 00

$ 1 ,3 84,833 0 4

4 .8 1 per cent.

5 .1 3 per cent.

3 .9 7 per cent.

4 .7 0 per cent.

xpen ses

for

Y

.
.
.
.
.

e a r

,

Rent
-

it h d r a w a l s d u r in g

Am ount of deposits .
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et decrease in deposits

of

Total Loans

$70,500 00
2 5,900 00
69,400 00

00
00
00
00
50
00
00
00

00

$614,090 54

Salaries
Am ount paid for
$ 4 ,658 0 0
% of total assets .1 6 6 0 of 1 %
e p o s it s a n d

00
00
00

850 00

Average rate

D

$25,000
2 5.000
95 .0 0 0
4 0.000
121,262
197,500
38 ,5 0 0
2 5.000

61,000

00

S p e c if ie d R

ach

Loans on Personal
Security

.

.

T

$33,000
2 3,500
1 54,806
13,000
368,7 4 0
3 ,200
1 6,994

.
.
.

$435,000 0 0
570,612 50
125,000 0 0
50,000 0 0
4 3,125 0 0
113,300 0 0

$1,411,300

00
00

3Jf per cent.
3f
4
R
4i
4f
5
H
6
6i

$444,232 50
557,035 0 0
126,550 0 0
49,000 0 0
45,187 50
111,763 75

00
00

legal
.

Loans on Real
Estate

R ate

Book Value

$435,000
577,000
125,000
50,000
50,000
113,300

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Continental National Bank, Boston
First National Bank, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
State National Bank, Boston
W ebster & A tla s N ’ l Bank, Boston
H om e National Bank, Milford .
Milford National Bank, Milford

otal

Estimated
Market Value

Y

ear

. $ 4 5 0,906 51
.
6,592
. $581,593 31
.
8 ,246
. $31,701 87

e x c l u s iv e

of

Advertising
$71 65
.0 0 2 5 of 1 %
B

an k

B

State

T

a xes

Other Expenses
$968 11
.0 3 4 5 of 1 %

u il d in g

Book value
Estim ated value
Assessed value .
N et income

and

F

Total
$ 5,697 76
.2031 of 1 %

ix t u r e s

. $25,000 0 0
.
2 5,000 0 0
.
24,000 0 0
568 29

BANK COMMISSIONER

No. 8]

189

Milford Savings B an k — Concluded
D

iv id e n d s

declared

April, 1908, 2 %
O ct., 1908, 2 %
Ca sh

on

D

d u r in g

Y

. $49,347 99
. 4 9 ,636 9 4

e p o s it

B

in

$98,984 93

anks

First National Bank, Boston
.
N ational Shawmut Bank, Boston
Milford National Bank, Milford .
M

D

ear

$ 1,278 30
10,073 53
21,879 11

is c e l l a n e o u s

N um ber of corporators, 4 8 ; trustees, 13
Gross income rec’d during year . $129,730 23
State ta x (net) paid “
“
.
9 ,2 5 9 84
D

ate

of

E

x a m in a t io n

,

December 18

e p o s it

A

ccounts

N um ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
S t a t is t ic s

of

L

8 08
1,060
8,487
$309 61

oans

N o. not exceeding $ 3,000 each
368
A m ount of same
.
. $373,020 73
N o. of loans on real estate .
269
Average amount of same
.
$ 2,282 8 6
Am ount loaned on real estate
during year
.
.
. $50,449 23
N o. of new real estate loans
made during year .
.
41

M ILLBURY SAVINGS BANK, MILLBURY
President, I r a N . G o d d a r d
Treasurer, I r v i n g B. S a y l e s
Clerk of the Corporation, I r v i n g B . S a y l e s
Board of Investment: I r a N . G
H

en ry

W .

Ca

rter

Incorporated April 10, 1854.
9 a . m . to 12

oddard

, G

, D a m i e n D u c h a r m e , A u g u s t u s S. W
J. D u d l e y , J a c o b R . L in c o l n

in t e r

,

eorge

Open for business every business day, except Saturdays,
., 1 to 3 p .m . ; Saturdays, 9 a . m . to 12 m .

m

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifteenth day of January and July

B

alance

Sh

ee t

, O

ctober

31, 1908
L ia b il it ie s

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds .
.
.
Telephone company bonds
.
.
Bank and trust company stocks .
Loans to counties, cities or towns .
“
on bank and trust co. stocks
“
“ real estate
.
.
.
“
“ personal security .
.
Bank building and fixtures .
.
Real estate by foreclosure, etc,
.
Taxes, insurance, etc., paid on
mortgaged properties
.
.
Stocks, bonds, etc., taken to secure
indebtedness . . _ .
.
.
.
Deposits in banks, on interest
.
Cash on hand
.
.
.
.

$70,000
333,520
83,000
26,207
40,700
46,500
11,560
562,653
294,558
21,500
10,055

00
00
00
50
00
00
00
00
63
00
04

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.$1,422,971 10

.

70,500 00
50,143 14

Interest, rents, etc.
Less current
Expenses .
.

. $25,095 20
.

794 46

45 81
22,831 25
44,127 72
656 03
$1,567,914 98

$1,567,914 98

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

24,300 74

.
.
.
legal
.

$45,000
293,000
63,000
2 9,000
46,500

00
00
00
00
00

90 ,0 0 0 00
$566,500 00

Estimated
Market Value

Book Value

$45,562
293,187
64,840
2 6,208
46,500

$45,000
2 92,120
63,000
2 6,207
4 6,500

50
50
00
75
00

00
00
00
50
00

8 7,000 00

86,400 00

$563,298 75

$559,227 50

R E PO R T OF THE

190

[Pub. Doc

Millbury Savings Bank — Concluded
Schedule op Securities Owned

Estimated
Market Value

Par Value

Shs.
50
23
57
35
25
53
10
114

Bank and Trust Company Stocks
First W a rd National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston
Second National Bank, Boston
South E nd National Bank, Boston
State National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
M illbury National Bank, M illbury
10 Mechanics N ational Bank, W orcester
30 W orcester N ational Bank, W orcester

.

$5,000
2 .300
5,700
3 .5 0 0
2 .5 0 0
5.300

00
00
00
00
00
00
1,000 00
11,400 00
1,000 00
3 ,000 00

.

.
.
.

$8,750
4,991
9 ,1 2 0
7 ,525
2 ,3 7 5
7 ,6 8 5
1,450
9 ,690
1,150
5,850

$40,700 00

T

A

otal

m ount of

L

oans on

O

31, 1908,

ct.

Loans on Real
Estate

R ate

b e a r in g

E

6
6i
7

“
“
“
“
“
“
“
((

“
“
“
“
“
“
“
U

T otals

.
.
.
.
.
.
.

S p e c if ie d R

ach

Loans on Personal
Security

$ 11,050 00
510,133 00

E

e p o s it s

and

W

Other Loans

Cash

on

D

for

Y

e a r

of

E

d u r in g

d u r in g

B


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

,

7,000 00
60 00

Y

Advertising
$25 0 5
0015 of 1 %
ear

. $142,2 0 2 15
.
1,742
. $183,977 70
.
1,952
. $13,070 13

. $ 27,260 57
. 27 ,5 8 5 11

x a m in a t io n

4 ,500 00

00
00
00
63
00
00
00
00
00

, EXCLUSIVE OF STATE T A X E S

Rent
-

Y

ear

$54,8 4 5 68

B

an k

B

Other Expenses
$755 65
.0481 of 1 %

u il d in g

and

F

Total
$2,599 70
.1 6 5 6 of 1 %
ix t u r e s

Book value
Estim ated value
Assessed value .
N et income
e p o s it

A

$21,500
18,000
11,800
3 74

00
00
00
03

ccounts

N um ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

261
24 4
2 ,8 9 4
$491 70

anks

$23,929 07
2 0 ,1 9 8 65

is c e l l a n e o u s

ate

$ 2,000
4 4.500
11,050
634,891
25.0 0 0
61.500
9 6,330
25.0 0 0
15.000

$915,271 63

N um ber of corporators, 3 6 ; trustees, 20
Gross income rec’d during year . $73,3 5 3 57
State ta x (net) paid “
“
.
3 ,8 3 6 62
D

Total Loans

5 .1 6 per cent.

First National Bank, Boston
.
M illbury National Bank, M illbury
M

nterest

$ 58,060 00

.
.
.
.
.

in

63
00
00
00
00
00

I

4 .2 4 per cent.

xpen ses

declared

e p o s it

of

$294,5 5 8 63

it h d r a w a l s

Jan., 1908, 2 % .
July, 1908, 2 % .

ate

5 .5 2 per cent.

D
iv id e n d s

$40,700 00

$562,653 00

A m ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits
D

00
00
00
00
00
00
1,000 00
11,400 00
1,000 00
3 ,000 00

5 .0 6 per cent.

Salaries
Am ount paid for
$1,819 00
% of total assets .1 1 6 0 of 1 %
D

$120,2 5 8
25 .0 0 0
54,500
54,800
25 .0 0 0
1 5 .000

4 1,470 00

.

otal

$5,000
2.300
5,700
3 .500
2 .5 0 0
5.300

$2,000 00
4 4,500 00

.
.
.
.
.
.
.

Average rate

T

00
00
00
00
00
00
00
00
00
00

$58,5 8 6 00

3^- per cent.
4
H
5
5Ì
5%

Book Value

March 27

S t a t is t ic s

of

L

oans

N o . not exceeding $ 3,000 each
252
A m ount of same
.
. $2 5 4 ,2 8 0 00
N o. of loans on real estate .
292
Average amount of same
.
$1,9 2 6 89
A m ount loaned on real estate
during year
.
.
. $ 24,800 00
N o. of new real estate loans
made during year .
.
18

No. 8]

BANK COMMISSIONER

191

MILTON SAVINGS BANK, MILTON
President, H . C l if f o r d G a l l a g h e r
Treasurer, W m . B . T h u r b e r
Clerk of the Corporation, F r e d e r i c k A . G a s k i n s
Board of Investment: N a t h a n i e l H . S t o n e , H . C l if f o r d G a l l a g h e r ,
G e o . W i g g l e s w o r t h , J o h n T a l b o t , T h o m a s K . C u m m in s
Incorporated M ay 18, 1905.

Open for business Tuesdays and Saturdays, 4 to 7
Thursdays, 4 t o 6 p .m .

p .m

.,

Deposits commence to draw interest the second Thursday of March, June, Septem ber and
December. Dividends are payable the fourth Thursday of March and September

B a l a n c e S h e e t , O c t o b e r 31, 1908
L iabii i t ies

A ssets

Public funds
Railroad bonds .
Telephone company bonds .
Loans to railroad companies
“ on real estate
“
“ personal security .
Deposits in banks, on interest
Cash on hand

.
.
.
.
.

$15,115
102,972
4,343
20,000
23,500
80,045
4,917
300

00
50
75
00
00
00
86
00

$245,193 74

Deposits .
Surplus:
Guaranty fund
Profit and loss

1,676 70
1,185 25

Interest, rents, etc.
Less current
Expenses .

.

T otal A m ount

of

L oans

Loans on Real
Estate

R ate

4V per cent.
4f “
“
5
“
“
5i “
“
T otals

O c t . 31, 1908,

on

.
.
.

.

Average rate

.
.
.

Estimated
Market Value

Book Value

$ 14,750 00
104,665 00
4 ,5 1 8 75

$15,1 1 5 00
102,972 50
4,343 75

20,0 0 0 00

2 0,200 00

2 0 ,000 00

$145,000 00

$144,133 75

$142,431 25

b e a r in g

E a c h S p e c if ie d R

$40,000
10,000
2 5 ,0 4 5
5,000

ate of

Other Loans

00
00
00
00

$20,000 00

I nterest

Total Loans

$ 40,000
17,000
6 1,545
5,000

00
00
00
00

$23,5 0 0 00

$ 8 0 ,0 4 5 00

$20,000 00

$ 1 2 3,545 00

4 .9 3 per cent.

4 .7 5 per cent.

5 .0 0 per cent.

4 .8 2 per cent.

Salaries


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$15,000 00
105,000 00
5,000 00

Loans on Personal
Security

$7,000 00
16,500 00

T otal E x pen ses
Am ount paid for
% of total assets

$251,194 11

Par Value

Public funds
.
.
.
.
.
Railroad bonds
.
..
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

3,138 42

40 00

$251,194 11

Schedule of Secueities Owned

i

$3,178 42

—
—

for

Y

e a r , e x c l u s iv e

Rent

of

Advertising

St a t e T a x e s
Other Expenses
$160 00
.0 6 3 6 of 1 %

Total
$160 00
.0 6 3 6 of 1 %

192

R E PO R T OF THE

[Pub. Doc.

Milton Savings Bank — Concluded
D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et increase in deposits
.

Y ear
$107,123 50
2 ,2 0 6
$60,9 8 4 16
862
. $52,9 2 7 38

d u r in g

.
.
.
.

297
88
1,220
$200 98

St a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
6
A m ount of same
.
. $10,5 4 5 00
N o. of loans on real estate .
7
Average am ount of same
.
$3,357 14
A m ount loaned on real estate
during year
.
.
. $11,500 00
N o. of new real estate loans
made during year .
.
3

D iv i d e n d s d e c l a r e d d u r in g Y e a r
M ar., 1908, l f %
. $3,141 68
Sept., 1908, l f %
.
3 ,6 4 6 36
$6,788 0 4

_ C a s h o n D e p o s it i n B a n k s
City Trust Co., Boston
Old Colony Trust Co., Boston
Blue H ill National Bank, M ilton .

D e p o s it A cc ou n ts
N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

$ 1,058 91
1,863 54
1 ,995 41

D ate

of

E x a m i n a t i o n , August 27

M is c e l l a n e o u s
N um ber of corporators, 2 0 ; trustees, 17
Gross income rec’d during year . $10,276 65
State ta x (net) paid “
“
.
932 23

MONSON SAVINGS BANK, MONSON
President, E d w a r d D . C u s h m a n
Treasurer, C h a r l e s A . B r a d w a y
Clerk of the Corporation, C h a r l e s A . B r a d w a y
Board of Investment:

E d w a r d D . C u s h m a n , A r t h u r D . N o r c r o s s , C a r l o s M. G a g e ,
L y m a n C. F l y n t

Incorporated March 29, 1872. Open for business every business day, except Saturdays,
9 a .m . to 12 m ., 1 to 4 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets

Public funds
. $143,893
Railroad bonds .
. 280,065
Street railway bonds
.
54,950
Boston Terminal Company bonds .
35,000
Bank and trust company stocks .
22,515
Loans to railroad companies
.
10,000
on railroad stocks
300
“ bank and trust co. stock.s
6,800
“ depositors’ books .
150
“ real estate
1,025,287
“ personal security .
. 114,050
Bank building and fixtures .
.
26,000
Deposits in banks, on interest
.
74,142
“
“
“
not on interest
1,713
Cash on hand
3,315


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L iabilities

75
00
00
00
00
00
00
00
00
00
00
00
96
35
35

$1,798,182 41

Deposits .
Surplus:
Guaranty fund
Profit and loss
Interest, rents, etc.
Less current
Expenses .

.$1,654,182 20
86,000 00
44,086 33
. $14,334 50
420 62

13,913 88

$1,798,182 41

BANK COMMISSIONER

No. 8]

193

Monson Savings Bank — Continued
Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

$144,000
282,000
45,000
3 5,000
10,000

.
.
.

legal
.

$147,786
274,1 6 5
4 4,450
3 4,300
10,000

00
00
00
00
00

L oans

Totals

O c t . 31, 1908,

.
.

.

Average rate

.
.

$ 8,250
1,006 ,7 9 7
2 ,000
8 ,240

00
00
00
00

$526,000 00

$519,101 25

$ 5 2 3,908 75

$2,500
3,000
175
1,200
2 ,500
1,500
9 ,000
2,500
151
300

$4,000
6,510
5
3 ,768
3 ,000
1,500
10,800
4 ,250
10
330

$ 2,500
3 ,000
5
1,200
2 ,500
1,500
9 ,0 0 0
2 ,500
10
300

00
00
00
00
00
00
00
00
25
00

b e a r in g

00
00
00
00
00
00
00
00
00
00

$22,5 1 5 00

$34,173 00

E a c h S p e c if ie d R

ate of

Other Loans

I nterest

Total Loans
$ 8,250
1,097 ,9 9 7
17,300
3 3,040

$6,800 00
300 00
10,150 00

$84,400 00
15,000 00
14,650 00

00
00
00
00
00
00
00
00
00
00

00
00
00
00

$1,0 2 5 ,2 8 7 00

$ 1 1 4,050 00

$17,250 00

$ 1 ,1 56,587 00

5 .0 0 per cent.

5 .1 9 per cent.

5 .5 9 per cent.

5 .0 3 per cent.

T otal E xpen ses
Salaries

for

Y

e a r , E X C L U S IV E

Rent

A m ount paid for
$ 3 ,090 00
% of total assets .1 7 1 8 of 1 %
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits
.
.
. $ 173,073 01
N um ber of same
.
.
.
1,945
A m ount of withdrawals
.
. $ 2 6 9,455 88
N um ber of same
.
.
.
2 ,198
N et decrease in deposits
.
. $ 3 1 ,7 7 4 24
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 32,483 55
O ct., 1908, 2 %
. 32 ,1 2 5 08 $64,6 0 8 63


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

75
00
00
00
00

9 ,9 5 0 00

Loans on Personal
Security

Loans on Real
Estate

R ate

4 1 per cent.
5
“
“
5i “
“
6
“
“

on

$143,893
2 80,065
45,000
3 5,000
10,000

8 ,400 00

$22,826 25

of

25
00
00
00
00

10,000 00

Shs.
Bank and Trust Company Stocks
25 National Bank of Commerce, Boston .
30 Merchants National Bank, Boston
5 Tremont National Bank, Boston
12 First National Bank, Boston
2 5 City National Bank, H olyoke
15 Palmer National Bank, Palmer .
90 Monson National Bank, Monson
2 5 Union Trust Co., Springfield
11 Agaw am National Bank, Springfield .
3 W a re National Bank, W are

T otal A m ount

Book Value

OF

Advertising

St a t e T a x e s
Other Expenses

Total

$777 52
.0 4 3 2 of 1 %

$ 3 ,867 52
.2 1 5 0 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value
.
N et income
.

and

.
.
.
.

F ix t u r e s
. $26,000
.
26 ,0 0 0
.
18,000
.
598

D e p o s it A cc ou n ts
Num ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

00
00
00
64

289
329
3 ,422
$483 40

194

R E PO R T OF THE

[Pub. Doc.

Monson Savings Bank — Concluded
C a s h o n D e p o s it i n B a n k s
Monson National Bank, Monson .
N ortham pton
National
Bank,
N ortham pton
.
.
.
Chapin N ’l Bank, Springfield
Chicopee N ’l Bank, Springfield
Pynchon N ’l Bank, Springfield
Springfield N ’l B ’k, Springfield
Springfield Safe Deposit & Trust
Com pany, Springfield
.
Third National Bank, Springfield
U nion Trust Co., Springfield

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
273
A m ount of same
.
. $422,397 00
00 N o. of loans on real estate .
382
41
Average am ount of same
.
$2,6 8 4 00
09
Am ount loaned on real estate
25*
during year
.
.
. $73,340 00
30 N o. of new real estate loans
m ade during year .
.
23

$1,713 35
10,000
.
6,877
.
6,791
.
125
. 14,056

9 ,990 00
11,302 91
. 15,000 00

.

D ate

of

E x a m i n a t i o n , A ugust 12

M is c e l l a n e o u s
Num ber of corporators, 3 0 ; trustees, 13
Gross income rec’d during year
. $84,698 82
State ta x (net) paid “
“
.
2 ,668 06
* In liquidation.

NANTUCKET INSTITUTION FOR SAVINGS, NANTUCKET
President, A l m o n T . M o w e y
Treasurer, L i z z i e S. R
Clerk of the Corporation, L i z z i e S. R i d d e l l

id d e l l

Board of Investment: A l m o n T . M o w r y , R e u b e n C. S m a l l , H e n r y B r o w n ,
E r n e s t H . J e r n e g a n , G e o r g e C. R u l e , J a m e s A . H o l m e s , J r., E d w a r d G. T h o m a s
Incorporated April 2, 1834. Open for business every business d ay from M ay to N ovem ber,
9 a .m . to 1 p .m .; N ovem ber to M ay, 10 a .m . to 1 p .m .
Deposits commence to draw interest the first M onday of January, April, July and October
Dividends are payable the second M onday of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets

L iabilities

Public funds
.
.
.
.
$46,000 00
Railroad bonds .
.
.
.
94,500 00
Street railway bonds .
12,000 00
Boston Terminal Company bonds .
20,000 00
Bank and trust company stocks
5,700 00
Loans to railroad companies
10,000 00
“
on bank and trust co. stocks
3,000 00
“
“ depositors’ books .
475 00
“
“ real estate
470,312 00
“
“ personal security .
82,683 00
Bank building and fixtures .
4,500 00
Deposits in banks, on interest
13,595 87
Cash on hand
.
.
.
.
829 14
Checks and cash items
384 88

Deposits .
Surplus:
Guaranty fund
Profit and loss

$692,891 72
36,684 59
18,883 11

Interest, rents, etc.
Less current
Expenses .

. $16,243 05
722 58

$763,979 89

Public funds
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

$763,979 89

Par Value

Schedule op Securities Owned

.
.
.

15,520 47

$23,000 00
8 9,500 00
12,000 00

Estimated
Market Value

Book Value

$23,1 7 5 00
8 7,130 00
11,790 00

$23,000 00
8 9,500 00
12,000 00

No. 8]

BANK COMMISSIONER

195

Nantucket Institution for Savings — Concluded
Estimated
Market Value

Par Value

Schedule of Securities Owned

Boston Terminal Com pany bonds
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
Bank and Trust Company Stocks
10 Boylston National Bank, Boston
15 Eliot National Bank, Boston
8 Metropolitan National Bank, Boston
10 Old Boston National Bank, Boston
5 N ’l Bank of Fairhaven, Fairhaven
10 Pacific N ’l Bank, Nantucket

$ 20,000 00
10,000 00

$ 19,600 00
10,000 00

$20,0 0 0 00
10,000 00

2 8,000 00

26 ,7 0 5 00

2 8,000 00

$182,500 00

$178,400 00

$182,500 00

$1,000
1,500
800
1,000
400
1,000

.

00
00
00
00
00
00

$1,000
2 ,9 2 5
960
1,110
400
1,300

$5,700 00

T otal A m ou nt

of

L oans

on

O c t . 31, 1908,

Loans on Real
Estate

R ate

5
5i
6

6f-

“
“
“
“

“
“
“
“

Totals

.
.
.
.

.
.
.
.

.

Average rate

b e a r in g

$20,000
2 1,587
13.000
18,096
10.000

$258,041 00
56,700 00
155,571 00

$5,700 00

ate of

Other Loans

00
00
00
00
00

I nterest

Total Loans

$20,000
281,8 2 8
69,700
184,942
10,000

$2,200 00
11,275 00

00
00
00
00
00

$82,683 00

$13,4 7 5 00

$566,470 00

5 .4 5 per cent.

5 .8 4 per cent.

5 .4 1 per cent.

for

Y

e a r , EXCLUSIVE OF STATE T A X E S

Rent

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits
.
.
. $ 8 7 ,3 6 6 02
N um ber of same
.
.
.
1,0 5 2
Am ount of withdrawals
.
. $ 1 1 3 ,2 8 0 29
N um ber of same
.
.
.
1,440
N et increase in deposits
.
.
$ 2 ,3 69 47
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $ 13 ,34 9 10
July, 1908, 2 ± %
. 1 4 ,9 34 64 $28 ,28 3 74
C a s h o n D e p o s it i n B a n k s
Eliot National Bank, Boston
.
Pacific National Bank, Nantucket

$ 9 ,0 8 5 45
4 ,5 1 0 42

M is c e l l a n e o u s
N um ber of corporators, 3 6 ; trustees, 19
Gross income rec’d during year . $ 37 ,84 2 81
State ta x (net) paid “
“
.
1 ,1 9 4 89
E x a m i n a t i o n , September 9 , 10


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

E a c h S p e c if ie d R

00
00
00
00
00
00

$470,3 1 2 00

Salaries
A m ount paid for
$1,612 50
% of total assets .2 1 1 0 of 1 %

of

$1,000
1,500
800
1,000
400
1,000

5 .3 9 per cent.

T otal E x pen ses

D ate

00
00
00
00
00
00

$ 7,695 00

Loans on Personal
Security

4 f per cent.

Book Value

Advertising
$3 45
0004 of 1 %

Other Expenses
$471 47
.0 6 1 7 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$2 ,0 8 7 42
.2 7 3 2 of 1 %

F ix t u r e s
.
$ 4,500
5.000
5.000
159

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

00
00
00
28

177

144
1,633
$424 30

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
221
A m ount of same
.
. $165,029 00
N o. of loans on real estate .
288
Average am ount of same
.
$1,633 02
Am ount loaned on real estate
during year
.
.
. $76,160 00
N o. of new real estate loans
made during year .
45

196

R E PO R T OF THE

[Pub. Doc.

NATICK FIVE CENTS SAVINGS BANK, NATICK
President, H e n r y C. M u l l i g a n
Treasurer, F r e d e r i c k O . B a s t o n
Clerk of the Corporation, F r e d e r i c k O . B a s t o n
Board of Investment: W il l ia m N u t t , F r a n k H . H a y e s , H e n r y C. M u l l i g a n ,
W a l t e r B . R o b in s o n , C h a r l e s A . P o o k e , J o h n B . L e a m y
Incorporated April 5, 1859.

Open for business every business day, 9

a .m

. to 3 p .m

Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the second Tuesday of M ay and N ovem ber

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets

Public funds
. $457,331
Railroad bonds .
. 514,155
Street railway bonds
. 192,980
Bank and trust company stocks .
33,900
Loans to counties, cities or towns . 162,700
railroad companies
.
10,000
on bank and trust co. stocks
1,575
depositors’ books .
300
“ real estate
1,759,859
“ personal security
.
71,536
Bank building and fixtures .
.
27,348
Real estate by foreclosure, etc.
.
14,888
in possession
5,136
Taxes, insurance, etc., paid on
mortgaged properties
710
Deposits in banks, on interest
. 111,858
Cash on hand
3,711

L iabilities

25
00
00
00
00
00
00
00
00
00
29
89
44

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$3,056,102 96
.
.

53
82
42

$3,367,990 64

Schedule op Securities Owned

Public funds
.
Railroad bonds
.
Street railway bonds
.
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.

Shs.
7
9
46
10
46
10
20
6
5
33
120
17
10

Bank and Trust Company Stocks
B oylston National Bank, Boston
First National Bank, Boston
Merchants National Bank, Boston
Metropolitan National Bank, Boston .
National Bank of Commerce, Boston .
Second National Bank, Boston
South E nd National Bank, Boston
State National Bank, Boston
W e b ste r & A tlas National B ’k, Boston
Dedham National Bank, Dedham
N atick National Bank, N atick .
Fram ingham N ’l B ’k, S. Fram ingham
First National Bank, W e st New ton .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

154,400 00
157,487 68

$3,367,990 64

Estimated
Market Value

Par Value

$428,500
496,000
193,000
162,700

00
00
00
00

$425,861
4 96,245
193,015
162,801

25
00
00
00

Book Value

$428,331
493,2 2 5
192,980
162,700

25
00
00
00

62,000 00

6 1 ,175 00

59,930 00

$ 1,342,200 00

$ 1 ,3 39,097 25

$ 1 ,3 37,166 25

$700
900
4,600
1,000
4,600
1,000
2,000
600
500
3,300
12,000
1,700
1,000

$700
2 ,8 2 6
9,982
1,200
7,360
2 ,150
1,900
870
725
3,465
21,000
2,210
1,400

$700
900
4,600
1,000
4,600
1,000
2,000
600
500
3,300
12,000
1,700
1,000

00
00
00
00
00
00
00
00
00
00
00
00
00

$33,900 00

00
00
00
00
00
00
00
00
00
00
00
00
00

$55,788 00

00
00
00
00
00
00
00
00
00
00
00
00
00

$33,900 00

No. 8]

BANK COMMISSIONER

197

Natick Five Cents Savings Bank — Concluded
T otal A m ou nt

of

L oans

R ate

on

O c t . 3 1 , 1908,

b e a r in g

E a c h S p e c if ie d R

“
“

“
“

.
.

.
.

5
5i
6

“

“

“

“

.
.

.
.

“

“

T otals

.

Average rate

Loans on Personal
Security

$ 1 ,6 64,283 00
36,5 6 5 00
59,011 00

$ 2 3 ,3 7 5
36,911
10,000
1,250

$1,7 5 9 ,8 5 9 00

$71,5 3 6 00

$ 1 7 4,575 00

$ 2 ,0 0 5 ,9 7 0 00

5 .0 4 per cent.

4 .9 3 per cent.

3 .9 8 per cent.

4 .9 4 per cent.

Other Loans

for

Salaries

Y

D e p o s it s a n d W it h d r a w a l s
Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

00
00
00
00

e a r , e x c l u s iv e

Rent

Am ount paid for
$5 ,1 1 7 64
% of total assets .1 5 1 9 of 1 %
Y ear
$496,928 56
10,669
$644,761 76
10,027
$32,0 4 5 38

d u r in g

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
.
N ew England N ’l Bank, Boston .
N atick National Bank, N atick
.

$60,000 00
15,000 00
36 ,8 5 8 82

M is c e l l a n e o u s
N um ber of corporators, 3 7 ; trustees, 16
Gross income rec’d during year . $1 5 1 ,2 2 6 71
State ta x (net) paid “
“
.
6 ,018 66

$ 37,300
120,400
2 3 ,3 7 5
1 ,718,069
4 6 ,5 6 5
60,261

16,875 00

of

Advertising
$39 50
.0 0 1 2 of 1 %

D iv i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, 2 %
. $58,1 8 5 94
M ay, 1908, 2 %
. 57,601 88 $115,787 82

of

Total Loans

$ 37,300 00
120,400 00

T otal E x pen ses

D ate

I nterest

Loans on Real
Estate

3 ^ per cent.
4
4i

ate of

00
00
00
00
00
00

State T a x e s
Other Expenses

Total

$ 1,582 84
.0 4 6 9 of 1 %

$6,739 98
.2 001 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

and

.
.
.

F ix t u r e s
. $ 27,348 29
.
25 ,0 0 0 00
.
2 9,600 00

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

928
1,116
11,203
$272 79

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
881
Am ount of same
.
$ 1 ,2 1 5 ,3 6 2 00
N o. of loans on real estate .
921
Average am ount of same
.
$ 1,910 81
A m ount loaned on real estate
during year
.
.
. $ 1 0 6,955 00
N o. of new real estate loans
made during year .
.
53

E x a m i n a t i o n , September 2 , 3

N E W BEDFORD FIV E CENTS SAVINGS BANK, N E W
BEDFORD
President, L o u m S n o w
Treasurer, W il l i a m H . P i t m a n
Clerk of the Corporation, G e o r g e H . H . A l l e n
Board of Investment: L o u m S n o w , T h o m a s W i l c o x , W i l l ia m R . W i n g , P a r k m a n M . L u n d ,
O t is N . P i e r c e , W il l ia m B a y l i e s , A n d r e w G. P i e r c e , J r., A r t h u r L . T u c k e r ,
W il l i a m O . D e v o l l
Incorporated April 14, 1855.

Open for business every business day, 9
also Saturdays, 7 to 9 p .m .

a .m .

to 1

p .m .;

Deposits commence to draw interest the second W ednesday of January, April, July and
October. Dividends are payable the second W ednesd ay of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF THE

198

[Pub. Doc,

New Bedford Five Cents Savings Bank — Continued
B

Sh

alance

eet

$1,688,327
Public funds
. 912,597
Railroad bonds .
. 149,000
Street railway bonds .
Bank and trust company stocks . 146,000
29,100
Loans to counties, cities or towns .
. 100,000
“
“ railroad companies
.
50,000
“
on public funds .
.
50,000
“
“ railroad bonds
“
“ bank and trust co. stocks
25,000
1,610
“
“ depositors’ books .
3,609,599
“
“ real estate
2,958,385
“
“ personal security .
.
84,000
Bank building and fixtures .
100
Real estate by foreclosure, etc.
. 112,635
Deposits in banks, on interest
.
22,104
Cash on hand
2,765
Checks and cash items

, O

50
50
00
00
00
00
00
00
00
00
97
87
00
00
29
46
00

3 1 , 1908

ctober

.$9,332,242 58

Deposits .
Surplus:
Guaranty fund
Profit and loss
Interest, rents, etc.
Less current
Expenses .

$22,330 85
.

3,166 49

Estimated
Market Value

Par Value

Schedule of Securities Owned

Shs.
100
40
15
200
100
3 25
12
568
100

$ 1,611,000
916,000
149,000
29,100
50,000

00
00
00
00
00

A

m ount of

L

oans on

ct.

.
.
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.
.

$ 1 5 0,000
4 2 1 ,1 3 4
8 1,500
1,275 ,6 6 6

00
00
00
97
-

1,571,749 00

$1,610,327
912,597
149,000
29,100
50,000

50
50
00
00
00

128,000 00

$2,883,100 00

$ 2,863,712 50

$2,8 7 9 ,0 2 5 00

$10,000
4,000
1,500
20,000
10,000
32,500
1,200
56,800
10,000

$21,700
11,600
2,175
2 6,000
11,700
41,925
1,836
112,464
20,000

$10,000
4,000
1,500
2 0,000
10,000
32,500
1,200
56,800
10,000

31, 1908,

Loans on Real
Estate

Rate

4 per cent.
4Ì “
“
44 “
“
4f “
“
5
“
“
5i “
“
5i “
“
5f “
“

O

75
00
00
75
00

129,135 00

Bank and Trust Company Stocks
Merchants National Bank, Boston
National Shawmut Bank, Boston
State National Bank, Boston
M etacom et N ’l Bank, Fall R iver
Franklin National Bank, Franklin
First National Bank, New Bedford
Mechanics N ’l Bank, New Bedford
Merchants N ’l Bank, New Bedford
Third National Bank, Springfield

otal

$1,622,228
880,200
152,670
29,478
50,000

Book Value

128,000 00

00
00
00
00
00
00
00
00
00

$146,000 00

T

19,164 36

$9,941,225 59

$9,941,225 59

Public funds
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

472,000 00
117,818 65

.
.

b e a r in g

E

ach

Loans on Personal
Security
$50,000
2 5,000
788,716
747,500
2 3 3 ,3 4 4
2 03,500
474,300
3 6,000

00
00
87
00
00
00
00
00

00
00
00
00
00
00
00
00
00

$249,400 00

S p e c if ie d R

Other Loans

$9,100 00
50,000 00
64,000 00
-

50,970 00
8 1,000 00
400 00

00
00
00
00
00
00
00
00
00

$146,000 00

ate

of

I

n terest

Total Loans

$59,100
225,0 0 0
1 ,273,850
829,000
1 ,559,980
284,500
2,0 4 6 ,4 4 9
3 6,000

00
00
87
00
97
00
00
00

199

BANK COMMISSIONER

No. 8]

New Bedford Five Cents Savings Bank — Concluded
T

otal

A

m ount op

L

oans on

“
“
“

•
.
.
.

T

otal

E

e p o s it s a n d

W

Cash

on

D

$255,710 00

$6,8 2 3 ,6 9 5 84
5 .1 0 per cent.

por

Y

e a r

,

e x c l u s iv e

Rent
$2,500 00
.0251 of 1 %
d u r in g

Y

d u r in g

Y

ear

in

B

State

B

an k

B

T

a xes

u il d in g

A

F

and

Book value
.
Estim ated value
Assessed value .
N et income
.
e p o s it

Total
$22,519 29
.2 2 6 3 of 1 %

Other Expenses
$ 2,047 61
.0 2 0 5 of 1 %

ix t u r e s

.
.
.
.

. $84,000 00
. 1 15,000 00
. 8 9 ,3 2 5 00
.
206 44

ccounts

Num ber opened during year
Num ber closed
“
“
Total number O ct. 31, 1908 .
Average balance “
“
.

3 ,3 4 5
3,309
30,379
$307 19

anks

$38,4 3 4
First National Bank, Boston
1,199
W ebster & A tlas NT B ’k, Boston .
7 ,946
First N ’l Bank, N ew Bedford
7 ,496
Mechanics N ’l B ’k, New Bedford
4,139
Merchants N ’l B ’k, New Bedford .
5 3 ,253
Third N ’l Bank, Springfield
165
Pynchon N ’l Bank, Springfield .
M

of

Advertising
$15 00
.0001 of 1 %

ear

$1,725,759 60
30,9 2 6
$2,095,803 84
2 4,844
. $18,640 24

$175,433 14
. 175,970 86 $ 3 5 1,404 00

e p o s it

00
00
00
00
00

4 .7 7 per cent.

it h d r a w a l s

April, 1908, 2 %
O ct., 1908, 2 %

$ 2 4 6,965
50.000
4 8,850
50.000
114,000

$240 00

5 .0 8 per cent.

xpen ses

declared

n terest

$ 2 ,9 5 8 ,3 8 5 87

D
iv id e n d s

I

Total Loans

Other Loans

00
00
00
00
00

•

op

5 .1 5 per cent.

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits
D

ate

$ 3 ,6 09,599 97

Salaries
A m ount paid for
$ 17,956 68
% of total assets .1 8 0 6 of 1 %
D

$ 1 3 7,175
5 0.000
4 8,850
50.000
114,000

•
.

Average rate

S p e c if ie d R

ach

Loans on Personal
Security

•

“
“
“

Totals

31, 1908, b e a r i n g E
— Concluded

$109,550 00

6 per cent.
6i “
“
6i

ct.

Loansjon Real
Estate

R ate

6f
7

O

05
66
02
51
83
49
73*

is c e l l a n e o u s

N um ber of corporators, 1 2 4 ; trustees, 38
Gross income rec’d during year . $472,067 87
State ta x (net) paid “
“
.
29 ,6 3 5 47

S t a t is t ic s

of

L

oans

N o. not exceeding $3,000 each
1,028
Am ount of same
.
$ 1 ,4 53,549 00
N o. of loans on real estate .
1,269
Average amount of same
.
$2 ,8 4 4 44
A m ount loaned on real estate
during year
.
.
$ 1 ,1 7 5 ,1 0 4 31
N o. of new real estate loans
made during year .
.
283
D

ate

of

E

x a m in a t io n

,

M ay 19, 20

* In liquidation.

N E W BEDFORD INSTITUTION FOR SAVINGS, N E W BEDFORD
President, W

il l ia m

W . Crapo
Treasurer, G e o r g e H . B
Clerk of the Corporation, E d m u n d W o o d

atch elor

Board of Investment: W i l l i a m W . C r a p o , T h o m a s B . T r i p p , O l i v e r P r e s c o t t , Jr.,
C l a r e n c e A . C o o k , G i d e o n A l l e n , Jr., E d w a r d T . P i e r c e , T h o m a s S. H a t h a w a y
Incorporated June 16, 1825.

Open for business every business day, 9
also Saturdays, 7 to 9 p . m .

a .m

.

to 1

p .m

.;

Deposits commence to draw interest the first M onday of January, April, July and October
Dividends are payable the first M onday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF THE

200

[Pub. Doc

New Bedford Institution for Savings — Continued
B

alance

Sh

eet

, O

ctober

3 1 , 1908

A ss e t s

L ia b il it ie s

Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“ on railroad bonds
“
“ bank and trust co. stocks
“
“ depositors’ books .
“
“ real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
mortgaged properties
Deposits in banks, on interest
Cash on hand
.

,024,339
,591,678
336,000
30,000
704,060
363,712
154,625
725
35,700
1,410
,806,609
i,085,803
167,500
17,268

75

00
00

00

Deposits .
Surplus:
Guaranty fund
Profit and loss

$16,632,858 70
.
.

96

00
00
00
00

Interest, rents, etc
Less current
Expenses .

. $42,255 49
667 63

00
33

970 04
346,511 90
31,654 82

Schedule of Securities Owned

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Boston Terminal Com pany bonds
Loans to counties, cities or towns
L oans to railroad companies .
Bonds and notes which are not now legal
investm ents
.

Bank and Trust Com pany Stocks
E liot National Bank, Boston .
First National Bank, Boston .
Merchants National B ’k, Boston
N ’l B ank of Commerce, Boston
National Shawm ut Bank, Boston
National Union Bank, Boston
N ew England N ’l Bank, Boston
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W eb ster & A tla s N ’l Bank, Boston
Fairhaven N ’l Bank, Fairhaven
Fall R iver N ational B ’k, Fall R iver
M etacom et N ’l Bank, Fall R iver
First National Bank, New Bedford
Mechanics N ’l Bank, New Bedford
Merchants NT Bank, New Bedford
Third National Bank, Springfield


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

41,587 86

48
76

$17,698,569 04

$ 1 7 ,698 ,56 9 04

Shs.
90
170
2 30
460
612
130
40
564
134
175
60
22
200
3 75
1 ,3 5 6
1 ,000
1 ,0 9 6
200

840,500 00
183,622 48

00

Estimated
Market Value

Par Value

$ 2,882,100
3 ,6 6 4,000
336,000
30,000
363,712
9 5,000

00
00
00
00
96
00

$ 2 ,8 88,685
3 ,5 2 5 ,3 8 5
339,7 5 5
29,400
366,0 8 6
9 5,000

00
00
00
00
64
00

Book Value

$2,873,339
3 ,5 9 1 ,6 7 8
3 36,000
30,000
3 63,712
9 4,625

75
00
00
00
96
00

211,000 00

212,1 2 5 00

211,000 00

$7,581,812 96

$7,4 5 6 ,4 3 6 64

$ 7 ,5 0 0 ,3 5 5 71

$9,000
17,000
23,000
46,000
61,200
13,000
4,000
56,400
13,400
6,125
6,000
1,760
20,000
37,500
135,600
100,000
109,600
2 0,000

$17,550
53,380
49,910
73,600
177,480
20,800
5,600
121,260
19,430
175
8,700
1,540
26,000
48,750
174,924
153,000
217,0 0 8
40,000

$9,000
17,000
23,000
46,000
9 1,800
13,000
4,000
56,400
13,400

00
00
00
00
00
00
00
00
00

6,000
1,760
20,000
3 7,500
135,600
100,000
109,600
2 0,000

00
00
00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$679,585 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$1,2 0 9 ,1 0 7 00

$704,060 00

201

BANK COMMISSIONER

No. 8]

New Bedford Institution for Savings — Concluded
T

otal

A

m ount of

L

oans on

4§

“
“

4

“

“

Ì

4f
5
5
5

i
i

5f
6
6i
6J
6f

■*j

“

“

“

“

“

“

“

“

“
“
“
“
“

-

-

$255,000
160,000
5 0,000
1,183 ,0 0 0
629,000
468,990
7 5,000
3 4 8 ,7 8 5
353,0 0 0
504,5 2 8
2 5,000
617,000
50,000
366,5 0 0

818,3 8 8 15
12,000 00
8 75,328 73
7 91,505 60
—

5 0 ,887 00
—

-

Average rate

T

otal

E

e p o s it s

and

W

April, 1908, 2 %
O c t., 1 9 0 8 ,2 %

Cash

on

D

e p o s it

00
00
00
00
00

$80,000
35 ,0 0 0
35 ,0 0 0
1 ,3 9 2 ,7 2 5
410,5 0 0
5 0,000
2 ,0 6 1 ,0 7 6
641,000
1,384 ,3 1 8
125,000
1 ,162,290
353,0 0 0
652,1 7 5
2 5,000
6 25,000
50,000
366,5 0 0

-

59 ,6 8 7 96
-

40,0 0 0 00
5 0,000 00
22,0 0 0 00
—

96,7 6 0 00
-

8 ,000 00
-

-

00
00
00
00
00
00
11
00
86
00
60
00
63
00
00
00
00

5 .3 1 per cent.

4 .6 7 per cent.

5 .0 2 per cent.

xpen ses

for

.
.
.
.
.

Y

e a r

,

e x c l u s iv e

Rent
$2 ,5 5 5 63
.0 1 4 4 of 1 %

d u r in g

Y

d u r in g

Y

ear

B

of

State

Advertising
$29 75
.0 001 of 1 %

B

ear

$2,4 2 5 ,5 1 9 41
.
2 7,680
$ 3 ,1 7 5 ,2 5 5 10
.
28,5 8 0
. $108,579 53

an k

B

T

a xe s

u il d in g

A

e p o s it

Total

Other Expenses
$ 2,883 11
.0 1 6 2 of 1 %

F

and

Book value
.
Estim ated value
Assessed value .

$27,500 21
.1 5 5 1 of 1 %

ix t u r e s

.
.
.

.
.

. $167,500 00
167,500 00
153,0 0 2 00

ccounts

N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 3 1 , 1908 .
Average balance “
“
.

S t a t is t ic s

anks

First National Bank, Boston
. $121,408 64
International T r. Co., Boston • .
51,282 89
National Shawmut Bank, Boston
87 ,5 0 2 92
First N ’l Bank, New Bedford
.
27,877 76
Mechanics N ’l B ’k, New Bedford .
28,920 00
Merchants N ’l B ’k, New Bedford .
28,512 70
Pynchon N ’l Bank, Springfield
.
1,006 9 9 *

M

00
00
00
00
00
13
00
00
00
63
00
00
00
00

Total Loans

4 .6 8 per cent.

$320,460 72
. 3 2 0 ,6 9 5 44 $ 6 4 1 ,1 5 6 16

in

$ 10,000
35 ,0 0 0
3 5,000
174,225
2 5,500

terest

$ 9 ,4 4 8 ,5 8 6 20

it h d r a w a l s

declared

Other Loans

In

$556,172 96

D
iv id e n d s

of

$5,0 8 5 ,8 0 3 76

A m ou n t of deposits
.
N um ber of same
.
A m ou n t of withdrawals
N um ber of same
.
N e t decrease in deposits

D

ate

$3,8 0 6 ,6 0 9 48

Salaries
A m ount paid for
$22,031 72
% , of total assets .1 2 4 4 of 1 %

D

—

-

.

S p e c if ie d R

ach

_

—

963,5 0 0 00
2 25,000 00

cc U

E

b e a r in g

Loans on Personal
Security

-

"
“
“
“
“

Totals

31, 1908,

$70,000 00

3f
per cent.
3 .9 0 “
“
3 .9 5 “
“
4
“
“

“
“

ct.

Loans on Real
Estate

R ate

4i

O

of

L

3 ,959
3,799
32 ,0 6 0
$518 80

oans

N o. not exceeding $ 3 ,000 each
577
A m ount of same
.
. $ 7 9 5 ,5 0 8 29
N o. of loans on real estate .
703
Average am ount of same
.
$ 5 ,4 1 4 81
A m ount loaned on real estate
during year
.
.
. $448,0 2 0 00
N o. of new real estate loans
made during year .
.
131

is c e l l a n e o u s

N um ber of corporators, 1 1 8 ; trustees, 32
Gross income rec’d during year . $832,466 22
State ta x (net) paid “
“
.
59,581 70


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

D

ate

* In liquidation.

of

E

x a m in a t io n

,

Septem ber 1, 2

202

R E PO R T

OF THE

[Pub. Doc,

NEWBURYPORT FIVE CENTS SAVINGS BANK,
NEWBURYPORT
President, C h a r l e s T h t j r l o w
Treasurer, J. A . M a y n a r d
Clerk of the Corporation, J. A . M a y n a r d
Board of Investment: C h a r l e s T
G

Incorporated April 24, 1854.

,

h u rlo w

eorge

W . R

W

m. R . Joh n so n ,

W

m. F . H ouston,

ic h a r d s o n

Open for business every business d ay, 8.30

a .m

.

to 2

p .m

.

Deposits commence to draw interest the last M onday of January, April, July and October
Dividends are payable the first M onday of M ay and N ovem ber

alance

Sh

ee t

, O

A ssets
Public funds
.
.
.
. $561,375 00
Railroad bonds .
.
.
.
388,740 00
Street railway bonds
49,600 00
Telephone company bonds .
21,700 00
Bank and trust company stocks
49,450 00
Loans to counties, cities or towns .
53.500 00
‘ on public funds .
10,000 00
“ bank and trust co. stocks
3,200 00
“
“ real estate
816,775 00
“
“ personal security
319,300 00
Bank building and fixtures .
30,000 00
Real estate by foreclosure, etc.
17.500 00
Deposits in banks, on interest
89,895 51
Cash on hand
.
.
.
.
4,615 15

ctober

3 1 , 1908

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

Interest, rents, etc.
Less current
Expenses .

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or tow ns
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

Shs.
10
8
35
18
23
243
24
10
8
25
38
56
89

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Boylston National Bank, Boston
First National Bank, Boston
National B ank of Commerce, Boston .
National B ank of the R epublic, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
New England National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W eb ster & A tlas N ’l Bank, Boston
First National Bank, New buryport .
Ocean National Bank, New buryport .


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

47

110,000 00
123,002 10

$1,406 72
462 63

$2,415,650 66

Schedule of Securities Owned

to
00
Vi
o

B

944 09

$2,415,650 66

Par Value

$513,000
382,000
50,000
2 5 ,000
53,500

00
00
00
00
00

Estimated
' Market Value
$510,112
365,462
5 0,925
22,593
53,845

50
50
00
75
00

Book Value

$512,375
3 75.440
49,600
21,700
53,500

00
00
00
00
00

64,000 00

63,225 00

62,300 00

$1,087,500 00

$ 1 ,0 66,163 75

$1,0 7 4 ,9 1 5 00

$1,000
800
3,500
1,800

00
00
00
00

24,300
2,400
1,000
800
875
3,800
5,600
4,450

00
00
00
00
00
00
00
00

$1,400
800
10,990
2,880
1,150
70,470
3,840
1,400
1,160
25
5,510
6,160
5,340

$1,000
800
3,500
1,800
575
24,300
2 ,400
1,000
800

$50,3 2 5 00

00
00
00
00
00
00
00
00
00
00
00
00
00

$111,125 00

00
00
00
00
00
00
00
00
00
_

3,800 00
5,600 00
4,450 00
$50,0 2 5 00

BANK COMMISSIONER

No. 8]

203

Newburyport Five Cents Savings Bank — Concluded
T otal A m ount

op

L oans

4

4f
5

“

“

“

“

“

“

“

“

5*
5

“

“

“

“

5f
6
6i

“
“
“

“
“
“

((

((

i

Totals

b e a r in g

.
.
.
.

Loans on Personal
Security

.
772,500 00

•
■

20,150 00

.
.

23 ,0 7 5 00

.

.

Average rate

$20,000
15.000
83.000
2 0.000
48,300
3 7.500
7 3.000
10.000
12.500

Other Loans

Total Loans

$ 1,050
33 .5 0 0
4 0.000
15.000
8 65,500
2 3,200
68,450
3 7.500
96,0 7 5
10.000
12.500

$33,500 00
20,000 00

00
00
00
00
00
00
00
00
00

I nterest

10,000 00
3 ,200 00

00
00
00
00
00
00
00
00
00
00
00

$816,775 00

$319,300 00

$66,700 00

$ 1 ,2 0 2 ,7 7 5 00

5 .4 5 per cent.

4 .3 5 per cent.

5 .1 0 per cent.

for

Y

e a r , e x c l u s iv e

Salaries
Am ount paid for
$ 4,268 30
% of total assets .1 7 6 6 of 1 %

Rent
$800 00
.0 3 3 2 of 1 %

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

d u r in g

Y ear
$238,127 19
2,917
$310,989 89
3 ,105
$10,189 46

D i v i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, 2 %
. $41,759 10
M ay, 1908, 2 %
. 41,293 06 $83,052 16
C a s h o n D e p o s it i n B a n k s
Fourth National Bank, Boston
N ational Shawmut B ’k, Boston
First N ’l Bank, New buryport

$39,652 49
2 ,750 00
47,493 02

M is c e l l a n e o u s
N um ber of corporators, 6 6 ; trustees, 24
Gross income rec’d during year . $109,313 29
State ta x (net) paid “
“
.
6 ,174 72
of

ate of

5 .0 3 per cent.

T otal E xpen ses

D ate

E a c h S p e c if ie d R

$1,050 00

per cent.

i

O c t . 31, 1908,

Loans on Real
Estate

R ate

0
4

on

of

St a t e T a x e s

Advertising
$203 00
.0 0 8 4 of 1 %

Other Expenses
$913 18
.0 3 7 8 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$ 6,184 48
.2 5 6 0 of 1 %

F ix t u r e s
$30,000
35 .0 0 0
35.0 0 0
1,499

D e p o s it A c c o u n t s
N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

00
00
00
13

521
433
5,072
$430 14

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
286
A m ount of same
.
. $292,0 7 5 00
N o. of loans on real estate .
357
Average am ount of same
.
$2,287 88
Am ount loaned on real estate
during year
.
.
. $94,100 00
N o. of new real estate loans
made during year . . .
21

E x a m i n a t i o n , July 22

NEWTON- SAVINGS BANK, N EW TO N
President, C h a r l e s T . P u l s i f e r
Treasurer, A d o l p h u s J. B l a n c h a r d
Clerk of the Corporation, W il l i a m F . B a c o n
Board of Investment:

C h a r l e s T . P u l s i f e r , S a m u e l M. J a c k s o n , F r a n c i s M u r d o c k ,
W il l i a m F . H a r b a c h , H e n r y E . B o t h f e l d

Incorporated June 17, 1831. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 1 p .m .
Deposits commence to draw interest the tenth day of January, April, July and October
Dividends are payable the day next after the T uesday following January 10 and
July 10


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

204

R E PO R T OF THE

[Pub. Doc

Newton Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L

ssets

Public funds
. $116,500
Railroad bonds .
. 891,337
Street railway bonds
. 300,000
Boston Terminal Company bonds . 150,000
Telephone company bonds
.
31,618
Bank and trust company stocks
1,114
Loans on public funds .
.
34,000
“
“ real estate
3,060,823
“
“ personal security
1,124,731
Bank building and fixtures .
.
50,000
Real estate by foreclosure, etc.
.
79,205
Taxes, insurance, etc., paid on
mortgaged properties
4,712
Stocks, bonds, etc., taken to secure
indebtedness
.
50,907
Suspense account
357
Real estate, income and expense
account .
.
.
.
7,154
Deposits in banks, on interest
. 209,633
Cash on hand
8,258
Checks and cash items
586

00
51
00
00
75
50
00
28
66
00
30

ia b il it ie s

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$5,781,174 10
.

Interest, rents, etc.

71,054 40

25
50
33
50
74
28
33

$6,120,940 93

$6,120,940 93

Schedule of Securities Owned

8101,500
9 00,000
3 00,000
150,000
3 5 ,000

Shs.
Bank and Trust Company Stocks
2 4 N ew ton National Bank, New ton

of

L oans

4 per cent.
44 “
“
4f “
“
5
“
“

.
.
.

51

•

54
5£
6
64
7

Totals

“
“
“
“
“

.
.
.
.
.

“

O c t . 31, 1908,

Loans on Real
Estate

R ate

“
“
“
“
“
“

on

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.
.
.
.
.

849,200
176,300
18,000
2 ,7 7 3 ,8 7 3
3 ,200
40 ,2 5 0

Estimated
Market Value

Par Value

Public funds
.
.
.
.
Railroad bonds
Street railway bonds
Boston Terminal Company bonds
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

T otal A m ount

00
00
00
28
00
00

224,500 00
44,212 43

00
00
00
00
00

8101,991
851,050
302,950
147,000
3 2,812

Book Value

25
00
00
00
50

8101,500
891,337
300,000
150,000
31 ,6 1 8

00
51
00
00
75

15,000 00

14,300 00

15,000 00

8 1 ,5 01,500 00

8 1 ,4 50,103 75

81,4 8 9 ,4 5 6 26

81,200 00

81,200 00

8 1,114 50

b e a r in g

E a c h S p e c if ie d R a t e

Loans on Personal
Security

8 1 3 4,000 00
150,000 00
262,6 0 0 00
3 2 3 ,0 5 0
5 0,000
173,581
5,000
26 ,5 0 0

Other Loans

825,000 00

of

Interest

Total Loans

849,200
310.300
168,000
3,0 6 1 ,4 7 3
3 ,200
363.300
50,000
182,581
5,000
26,5 0 0

00
00
00
28
00
00
00
66
00
00

00
00
66
00
00

9 ,0 0 0 00

83,0 6 0 ,8 2 3 28

81,124,731 66

8 34,000 00

8 4 ,2 1 9 ,5 5 4 9 4

4 .9 6 per cent.

5 .2 9 per cent.

5 .2 6 per cent.

5 .0 5 per cent.

BANK COMMISSIONER

No. 8]

205

Newton Savings Bank — Concluded
T otal E xpen ses

Salaries

for

Y

e a r , e x c l u s iv e

Rent

Am ount paid for
$13,3 6 4 77
% of total assets .2 1 8 3 of 1 %

$2,500 00
.0 4 0 8 of 1 %

D e p o s it s a n d W i t h d r a w a l s
A m ount of deposits
.
.
N um ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

d u r in g Y e a r
. $672,642 65
.
10,488
$ 1 ,0 41,350 61
.
12,626
. $171,177 77

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, l f %
. $99,403 43
July, 1908, l f %
. 9 8 ,1 2 6 76 $197,530 19

of

St a t e T a x e s

Advertising

Other Expenses

$81 00
.0 0 1 3 of 1 %
B

an k

B

Total
$ 17,568 01
2870 of 1 %

$1,622 24
.0 2 6 5 of 1 %

u il d in g

and

F

ix t u r e s

$ 50,000
5 0,000
53,600
1,530

Book value
Estim ated value
Assessed value .
N et income
D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
T otal number O ct. 31, 1908 .
Average balance “
“

00
00
00
80

1,080
1,308
15,496
$373 07

C a s h o n D e p o s it i n B a n k s
St a t i s t i c s o f L o a n s
First National Bank, Boston
. $ 1 5 2,625 86
347
New ton Tr. Co., New ton Centre .
57,007 8 8 * N o. not exceeding $3,000 each
$6 5 1 ,9 2 4 20
A m ount of same
687
N o. of loans on real estate .
M is c e l l a n e o u s
$ 4 ,455 34
Average am ount of same
N um ber of corporators, 1 5 ; trustees, 15
Gross income rec’d during year . $280,150 78 Am ount loaned on real estate
during year
.
.
. $410,303 20
State ta x (net) paid “
“
.
13,490 32
N o. of new real estate loans
m
ade
during
year
.
70
D a t e o f E x a m i n a t i o n , M ay 5, 6
* This amount, in excess of the legal limit, has since been reduced.

NEW TON CENTRE SAVINGS BANK, NEW TON CENTRE
President, S e w a r d W . J o n e s
Treasurer 'pro tem, E . F . H
Clerk of the Corporation, W m . M . F l a n d e r s
Board of Investment:

ayw ard

S e w a r d W . J o n e s , D w i g h t Ch e s t e r , D . H . A n d r e w s ,
E . T . Co lbu r n , H e n r y H . K en da ll

Incorporated Feb. 25, 1896. Open for business every business day, except Saturdays,
9 to 11.30 a .m ., 1.30 to 2.30 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the fifteenth day of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A

L ia b il it ie s

ssets

$65,790 00
Public funds
.
.
.
.
212,747 50
Railroad bonds .
.
.
.
57,000 00
Street railway bonds
8,737 50
Telephone company bonds .
2,500 00
Bank and trust company stocks
5,000 00
Loans to railroad companies
800 00
“
on railroad bonds
300 00
“
“ bank and trust co. stocks
“
“ real estate
$307,777 50
Less, due on mtge. loans 2,000 00 305,777 50
80,400 00
Loans on personal security .
16,500 00
Real estate by foreclosure, etc.
12,811 15
Premiums .
.
.
_ .
15 00
Expense foreclosed properties
4,263 05
Deposit in bank, on interest .
525 79
Cash on hand
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$773,167 49

$746,704 07

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
.
Less current
Expenses .
$736 38
Taxes
.
314 01
Suspense account

14,189 17
8,545 48

$4,743 42
1,050 39

3,693 03
35 74

$773,167 49

206

R E PO R T OF THE

[Pub. Doc.

Newton Centre Savings Bank— Concluded
Schedule op Securities Owned

Public funds
.
.
Railroad bonds
Street railway bonds
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.

.

Par Value

.

.

.

.

.

$66,000
220,000
26,000
10,000

not now legal
.
.
.

otal

A

m ount op

L

oans on

R ate

4-J- per cent.
5
“
“
5i “
“
6

6i

“

“

“

“

T otals

.
.

.
.

.
.

.
.

.

Average rate

T

otal

E

O

ct.

e p o s it s a n d

W

36,000 00
$ 3 4 9,275 00

$500 00
2,000 00

$1,570 00
4,000 00

$500 00
2,000 00

$2,500 00

$5,570 00

$2,500 00

E

$3,500
285,9 2 2
10,955
5,400

$15,000
3 0 ,000
2 0,000
10,400
5,000

ach

S p e c if ie d R

iv id e n d s

Cash

on

D

e p o s it

00
00
00
00
00

Total Loans

$ 18,500
322,922
30 ,9 5 5
15,800
6,100

$5,000 00

1,100 00

00
50
00
00
00

$80,400 00

$6,100 00

$394,277 50

5 .2 7 per cent.

5 .0 7 per cent.

xpen ses

for

Y

e a r

,

e x c l u s iv e

Rent
$686 28
.0 8 8 8 of 1 %
d u r in g

Y

State

op

Advertising
$7 58
.0 0 0 9 of 1 %
D

ear

. $147,493 46
3,381
. $193,147 02
2,280
. $20,9 3 5 52
d u r in g

B

Y

ear

$24,718 0 4

an k

$4,263 05

is c e l l a n e o u s

N um ber of corporators, 2 9 ; trustees, 19
Gross income rec’d during year . $37,112 81
State ta x (net) paid “
“
.
2,153 79


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

n terest

5 .2 5 per cent.

N ew ton Trust Co., New ton Centre
M

I

$305,777 50

. $ 1 2 ,5 1 4 18
. 12,203 86
in

op

5 .0 2 per cent.

it h d r a w a l s

declared

ate

Other Loans

e p o s it

A

T

axes

Other Expenses
$1,153 97
.1 4 9 3 of 1 %

Total
$ 3 ,027 01
.3 9 1 5 of 1 %

ccounts

N um ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

D

00
50
00
50

$346,582 50

Loans on Personal
Security

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits

Jan., 1908, l f %
July, 1908, l f %

$65,790
2 12,747
2 6 ,000
8,737

50
50
00
50

$358,000 00

b e a r in g

00
50
00 '
00

$64,912
209,782
26,710
9 ,037

3 6,140 00

Loans on Real
Estate

Salaries
Am ount paid for
$1,179 18
% of total assets .1 5 2 5 of 1 %
D

31, 1908,

Book Value

36,000 00

Shs.
Bank and Trust Company Stocks
5 First National Bank, Boston
20 New ton Trust Co., New ton Centre

T

00
00
00
00

Estimated
Market Value

op

L

356
328
2,973
$251 16

oans

N o. not exceeding $ 3,000 each
71
Am ount of same
.
. $118,202 50
N o. of loans on real estate .
108
Average am ount of same
.
$2,849 79
Am ount loaned on real estate
^ during year
.
.
.
$9,000 00
N o. of new real estate loans
made during year .
.
3
D

ate

of

E

x a m in a t io n

,

September 16

BANK COMMISSIONER

No. 8]

207

NONOTUCK SAVINGS BANK, NORTHAMPTON
President, H

en r y

L. W

Treasurer, J o h n P

il l ia m s

Clerk of the Corporation, R
Board of Investment: O

r v il l e

W .

P

W . L

obert

ro tjty,

I

saac

B

r in c e

ym an

r id g m a n

, Joh

n

P

r in c e

Incorporated Feb. 9 , 1899. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m .
D eposits commence to draw interest the first W ednesday of March, June, September and
December. Dividends are payable the first W edn esday of June and December

B

A

alance

Sh

ee t

, O

ctober

31, 1908
L ia b il it ie s

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Bank and trust company stocks .
Loans to counties, cities or towns .
“
on bank and trust co. stocks
“ depositors’ books .
“
“ real estate
“
“ personal security .
Taxes, insurance, etc., paid on
mortgaged properties
Premiums .
.
.
.
.
Furniture and fixtures
Deposits in banks, on interest
Gash on hand
.
.
.
.
Checks and cash items

$14,892
53,200
24,726
2,200
1,650
955
505,372
162,819

43
00
00
00
00
00
73
02

470
1,532
211
36,620
1,494
62

95
13
65
21
10
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

$780,397 41

.

14,800 00
6,231 59

Interest, rents, etc.
Less current
Expenses .

$6,474 11
1,696 89

$806,206 22

$806,206 22

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now legal
investm ents
.

Shs.
Bank and Trust Company Stocks
10 Greylock National Bank, Adam s
5 Millers R iver National Bank, A thol
33 First National Bank, Northam pton
50 Chapin National Bank, Springfield
40 Chicopee National Bank, Springfield
23 Third National Bank, Springfield
7 H am pden National Bank, W estfield


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value

Schedule op Securities Owned

.

4,777 22

$15,100 00
55,000 00
2 ,200 00

$13,800 00
41,337 50
2,200 00

Book Value

$14,892 43
4 3,200 00
2,200 00

10,000 00

8 ,500 00

10,000 00

$ 82,300 00

$65,837 50

$70,292 43

$1,000
500
3 ,300
5,000
4,000
2 ,300
700

00
00
00
00
00
00
00

$16,800 00

$1,850
850
4,290
5,000
6,000
4 ,600
1,120

00
00
00
00
00
00
00

$23,710 00

$2 ,0 5 0
875
4,162
5 ,3 1 6
6,200
5 ,072
1,050

00
00
50
00
00
50
00

$24,7 2 6 00

208

R E PO R T OF THE

[Pub. Doc.

Nonotuck Savings Bank — Concluded
T otal A m ount

of

L oans

5
5

“
i “

6

“
T otals

“

“
“

O ct. 31, 1908,

Loans on Real
Estate

Rate

4 per cent.
4* “
“

on

E a c h S p e c if ie d R

b e a r in g

Loans on Personal
Security

ate of

Other Loans

Total Loans

$ 3,500 00
■
.
.
.

.

Average rate

.
.
.

$5,400
130,939
21,4 8 0
5,000

5 00,812 73
1,060 00

00
02
00
00

Interest

$3,500
5,400
6 36,556
2 1 ,480
6,060

$4 ,8 0 5 00

00
00
75
00
00

$505,372 73

$162,819 02

$4 ,8 0 5 00

$6 7 2 ,9 9 6 75

4 .9 9 per cent.

5 .0 8 per cent.

5 .0 0 per cent.

5 .0 1 per cent.

T otal E xpen ses
Salaries
A m ount paid for
$2 ,0 5 0 00
% of total assets .2 5 4 2 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$400 00
.0 4 9 6 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r i n g Y e a r
A m ount of deposits .
. $137,1 4 2 37
N um ber of same
1,921
A m ount of withdrawals
. $ 1 8 9,102 26
N um ber of same
1,774
N et decrease in deposits
. $25,430 64
D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, l f %
. $13,4 2 0 54
June, 1908, l f %
. 13,108 71 $26,529 25
Ca sh o n D e p o s it in B a n k s
First N ’l Bank, N ortham pton
. $18,560 97
H am pshire County N ational Bank,
Northam pton
.
.
.
14,203 02
Springfield National Bank, Springfield
.................................................
2 ,179 52
H am pden Trust Co., Springfield .
1,676 70

of

Advertising

State T a x e s
Other Expenses
$1,0 1 5 07
.1 2 5 8 of 1 %

Total
$3,4 6 5 07
.4 2 9 6 of 1 %

D e p o s it A cc o u n ts
Num ber opened during year
N um ber closed
“
“
T otal number Oct. 3 1 , 1908 .
Average balance “
“
.

287
31 3
2 ,093
$372 8 6

St a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
2 66
Am ount of same
.
. $344,487 73
N o. of loans on real estate .
296
Average am ount of same
.
$1 ,7 0 7 34
A m ount loaned on real estate
during year
.
.
. $ 2 5 ,8 4 4 00
N o. of new real estate loans
m ade during year .
.
20
D ate

of

E x a m i n a t i o n , April 10

M is c e l l a n e o u s
N um ber of corporators, 5 0 ; trustees, 20
Gross income rec’d during year . $37,949 78
State ta x (net) paid “
“
.
1,297 00

NORTH ADAMS SAVINGS BANK, NORTH ADAMS
President, H . W . C l a r k
Treasurer, Y . A . W
Clerk of the Corporation, V . A . W h i t a k e r
Board of Investment: G e o r g e L . R

ic e ,

Ch a r l e s E . W

in c h e l l ,

h it a k e r

H . T o r r e y Ca d y

Incorporated April 2 6 , 1848. Open for business every business d ay, except Saturdays,.
9 a .m . to 4 p .m . ; Saturdays, 9 a .m . to 2 p .m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

BANK COMMISSIONER

209

North Adams Savings Bank — Contiuued
B

A

Sh

alance

ee t

, O

31, 1908

ctober

L

ssets

Public funds
. $25,700
Railroad bonds .
. 419,270
Street railway bonds
.
86,000
Bank and trust company stocks .
88,835
Loans to counties, cities or towns .
71,813
on bank and trust co. stock.s
2,550
“
“ depositors’ books
1,300
“
“ real estate SI,920,923 89
Less, due on mtge. loans 1,757 46 1,919,166
Loans on personal security .
. 621,731
Bank building and fixtures .
.
50,315
Real estate by foreclosure, etc.
. 244,194
Taxes, insurance, etc., paid on
268
mortgaged properties
Deposits in banks, on interest
.
10,394
“
“
“
not on interest
647
Cash on hand
9,561

00
00
00
00
32
00
00

ia b il it ie s

Deposits .
Surplus:
Guaranty fund
Profit and loss

. $3,340,507 16
.

Interest, rents, etc.
Less current
Expenses .

43
02
36
39

. $11,300 06
.

1,056 35

$3,551,746 97

Estimated
Market Value

Book Value

$25,747
3 93,610
39 ,4 2 5
69,578

13
00
00
52

$25,700 00
4 19,270 00
4 0,000 00
7 1 ,8 1 3 -3 2

46,000 00

4 3 ,920 00

4 6,000 00

$597,513 32

$572,280 65

$602,783 32

Par Value

Schedule of Securities Owned

Shs.
490
400
400
30

.

$25,700
414,0 0 0
4 0,000
71,813

- .
.
legal
.

Bank and Trust Company Stocks
Berkshire N ’l Bank, N o. Adam s
North A dam s National B ’k, N . A dam s
North A dam s Trust Co., N . A dam s .
Pittsfield N ’l Bank, Pittsfield

00
00
00
32

$1,225
4 6,000
44,000
4,800

—

$40,000 00
40,000 00
3,000 00
$83,000 00

T

otal

A

m ount

of

L

4
41
4i
5
5i

6

“
“
“
“
“
“

T otals

“
“
“
“
“
“

O

ct

.

3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

3 .4 0 per cent.
3i
“
“
31
“
“

oans on

b e a r in g

E

Loans on Personal
Security

$105,000 00

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$225,800
31,600
336,687
2,800
1,322,279

00
00
38
00
05

155,000
135,580
31,700
194,451

00
00
00
00

$50
4 0,000
45 ,7 8 5
3 ,000

$96,025 00

ach

.
.
.
.
.

10,243 71

32
96
03
14

$3,551,746 97

Public funds
.
.
.
.
Railroad bonds
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

200,000 00
996 10

S p e c if ie d R

Other Loans

$18,580
19,200
11,533
18,000

00
00
32
00

00
00
00
00

$88,8 3 5 00

ate

of

I

nterest

Total Loans

$18,580
19,200
11,533
123,000
2 25,800
187,100
479,292
3 4 ,500
1,517 ,5 5 5

00
00
32
00
00
00
38
00
07

00
00
00
02

500 00
7 ,0 2 5 00

$1,9 1 9 ,1 6 6 43

$621,731 02

$75,663 32

$ 2 ,6 16,560 77

5 .5 4 per cent.

5 .0 4 per cent.

3 .8 2 per cent.

5 .4 1 per cent.

825 00

REPORT OF THE

210

North Adams Savings Bank —
T

E

otal

xpen ses

for

Salaries

D

e p o s it s

and

W

D

iv id e n d s

Cash

on

D

.

declared

d u r in g

e x c l u s iv e

Y

d u r in g

Y

B

ear

ear

. $ 69,108 08
. 65,200 00 $134,308 08

e p o s it

B

in

$ 4,148 45
6 ,246 51
647 03

is c e l l a n e o u s

ate

of

E

x a m in a t io n

,

State

an k

B

T

axes

Other Expenses
$l-,458 14
.0 4 1 0 of 1 %

u il d in g

F

and

Book value
.
Estim ated value
Assessed value .

Total
$14,013 59
.3 9 5 3 of 1 %
ix t u r e s

.
.
.

$50,3 1 5 36
7 5,000 00
62,000 00

N um ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

762
1,710
7,570
$441 29

D

e p o s it

A

.
.
.

ccounts

S t a t is t ic s

anks

Num ber of corporators, 3 4 ; trustees, 13
Gross income rec’d during year . $150,3 2 6 31
State ta x (net) paid “
“
.
6,497 28
D

Concluded

of

Advertising
$228 50
0064 of 1 %

. $299,038 51
4,891
1,008 ,4 5 0 93
8 ,454
$5 7 5 ,1 0 4 34

N ew England N ’l Bank, Boston .
N orth A dam s N ’l B ’k, N . A dam s .
N o. A dam s Trust Co., N . A dam s .
M

,

$744 82
.0 209 of 1 %

it h d r a w a l s

April, 1908, 2 %
O ct., 1908, 2 %

e a r

Rent

A m ount paid for
$11,582 13
% of total assets .3 2 7 0 of 1 %

A m ount of deposits .
N um ber of same
A m ount of withdrawals
Num ber of same
N et decrease in deposits

Y

[Pub. Doc,

of

L

oans

No. not exceeding $ 3,000 each
595
Am ount of same
.
. $661,270 00
N o. of loans on real estate .
493
Average amount of same
.
$ 3,892 83
Am ount loaned on real estate
during year
.
.
. $56,725 00
N o. of new real estate loans
m ade during year .
.
18

February 5

NORTHAMPTON INSTITUTION FOR SAVINGS,
NORTHAMPTON
President, O

l iv e r

W alker
Treasurer, L . D . D
Clerk of the Corporation, T . G. S p a u l d i n g

Board of Investment: L . D . D

ru r y

, A

rth ur

W

atson

, F

ran k

ru ry

E. C l a r k

Incorporated March 1, 1842. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first W ednesd ay of January, April, July and
October. Dividends are payable the first W ednesd ay of April and October

B

A

alance

Sh

eet

ctober

31, 1908
L ia b il it ie s

ssets

. $694,000
Public funds
.1,387,625
Railroad bonds .
. 100,000
Street railway bonds
Boston Terminal Company bonds . 220,000
.
45,000
Telephone company bonds .
14,400
Bank and trust company stocks .
40,000
Loans to counties, cities or towns .
.
50,000
“
“ railroad companies
“
on bank and trust co. stocks
12,358
1,066
“
“ depositors’ books .
.1,717,325
“
“ real estate
. 522,217
“
“ personal security .
.
27,000
Bank building and fixtures .
Real estate by foreclosure, etc.
.
41,856
“
“
in possession
.
19,131
625
Premiums .
.
.
.
. 178,991
Deposits in banks, on interest
.
19,050
Cash on hand
.
7,990
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

, O

00
00
00
00
00
00
00
00
00
00
50
83
00
79
69
00
68
73
26

$5,098,638 48

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

.$4,779,257 76
.

.

250,000 00
62,689 05

$7,637 55
945 88

6,691 67

$5,098,638 48

211

BANK COMMISSIONER

No. 8]

Northampton Institution for Savings — Continued
Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.

$676,000
1 ,307,000
100,000
200,000
50,000
40,000

.
.
.

00
00
00
00
00
00

$679,385
1,286,800
107,000
196,000
45,187
40,000

A

m ount of

L

oans on

3 .8 5 per cent.
4
“
“
“
“

4t

165,030 00

163,500 00

$ 2,541,000 00

$2,519,402 50

$2,5 3 6 ,6 2 5 00

$2,000
1,500
5,000
900
5,000

$4,340
2 ,400
10,750
1,170
10,000
20

$2,000
1,500
5,000
900
5,000

00
00
00
00
00
-

“
“

.

$40,000
106,000
276,100
4 7,000
1 ,241,450
6,000

•

1*

::

::

:

“
“
“
“

“
“
“
“

-

Totals

:

T

otal

E

and

W


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

n terest

$ 15,000
51.000
114,000
277,100
47.000
1 ,390,583
2 04,980
2 5.000
2 18,153
150

00
00
00
00

00
00
00
00
00
50
00
00
83
00

$1 0 3 ,4 2 4 00

$ 2 ,3 42,967 33

4 .8 4 per cent.

5 .6 3 per cent.

4 .7 1 per cent.

5 .0 1 per cent.

xpen ses

it h d r a w a l s

April, 1908, l f %
O ct., 1 9 0 8 ,2 %

I

$522,217 83

$86,359
198,980
25,000
2 11,878

for

Y

e a r

,

e x c l u s iv e

$1,360 50
.0 2 6 6 of 1 %
d u r in g

Y

d u r in g

Y

5,500 00
150 00

of

State

Advertising

Rent

ear

. $686,377 30
10,505
. $934,513 69
10,234
. $76,046 64

Am ount of deposits .
Num ber of same
A m ount of withdrawals
Num ber of same
N et decrease in deposits
declared

of

Total Loans

Other Loans

$15,000
11,000
8 ,000
1,000

00
00
00
00
50
00

ate

$ 1 ,7 17,325 50

A m ount paid for
$ 8,095 79
% of total assets .1 5 8 7 of 1 %

iv id e n d s

S p e c if ie d R

ach

Loans on Personal
Security

775 00

Salaries

D

E

$14,400 00

6 2,774 00

.

.

e p o s it s

b e a r in g

00
00
00
00
00

00
00
00
83

-

Average rate

D

31, 1908,

00
00
00
00
00
00

$28,680 00

.

5i
5f

6
6Ì

ct.

Loans on Real
Estate

R ate

4i

O

00
00
00
00
00
00

168,000 00

$14,400 00

otal

$676,000
1 ,292,125
100,000
220,000
4 5,000
40,000

00
00
00
00
50
00

legal

Shs.
Bank and Trust Company Stocks
20 Merchants National Bank, Boston
15 National Bank of Commerce, Boston .
50 Second National Bank, Boston .
9 First N ’l Bank, Northam pton
50 Northam pton N ’l Bank, Northam pton
20 City National Bank, W orcester .

T

Book Value

ear

. $80,786 56
. 91,303 19 $172,089 75

$37 00
.0 0 0 7 of 1 %
B

an k

B

T

a xes

Other Expenses

Total

$1,190 94
.0 2 3 3 of 1 %

$10,684 23
2094 of 1 %

u il d in g

and

Book value
.
Estim ated value
Assessed value .
D

e p o s it

A

.
.
.

F

ix t u r e s

. $27,000 00
.
35,000 00
.
2 9 ,500 00

ccounts

Num ber opened during year
Num ber closed
“
Total number O ct. 31, 1908 .
Average balance “
“

1,429
1,406
1 2 ,135
$393 84

212

REPORT OF THE

[Pub. Doc.

Northampton Institution for Savings — Concluded
Cash

on

D

e p o s it

B

in

S t a t is t ic s

anks

Second National Bank, Boston . $32,971 69
First N ’l Bank, Northam pton
.
38,299 45
Hampshire County National Bank,
Northam pton
.
.
.
10,000 00
N ortham pton
National
Bank,
Northam pton
.
.
.
9 7,720 54
M

of

L

oans

N o. not exceeding $3,000 each
576
A m ount of same
.
. $694,875 00
N o. of loans on real estate .
605
Average am ount of same
.
$ 2,838 55
Am ount loaned on real estate
during year
.
.
. $310,751 85
No. of new real estate loans
made during year .
.
66

is c e l l a n e o u s

N um ber of corporators, 1 6 ; trustees, 16
Gross income rec’d during year . $230,153 92
State ta x (net) paid “
“
.
13,263 00

D

ate

of

E

x a m in a t io n

,

April 9, 10

NORTH AVENUE SAVINGS BANK, CAMBRIDGE
President, C h a r l e s F . S t r a t t o n
Clerk of the Corporation, W
Board of Investment: C h a r l e s F . S t r a t t o n , W
E

dw ard

Incorporated March 7, 1872.

L. G

r u e b y

Treasurer, M
H. G

il l ia m

arren

, L

eroy

il t o n

L. W

alton

oodnow

L. H ooper, W
S. B r o w n

il l ia m

Open for business every business day, 9
also Saturdays, 6 to 8 p . m .

E. H

a .m

.

u t c h in s ,

to 1

p .m

.;

Deposits commence to draw interest the tenth day of January, April, July and October
Dividends are payable the tenth day of January and July

B

A

alance

Sh

ee t

, O

ctober

31, 1908
L

ssets

Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Boston Terminal Company bonds .
Bank and trust company stocks
Loans to counties, cities or towns .
railroad companies
on railroad bonds
“
“ bank and trust co. stocks
“
“ depositors’ books .
real estate
“ personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
.
.
.
.

$182,408
285,978
46,495
5,000
1,350
45,455
15,000
900
200
1,300
808,826
361,224
37,970
8,435
46,219
1,974

75
50
00
00
00
00
00
00
00
00
00
11
06
83
00
03

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

ia b il it ie s

.

.

.$1,750,131 25
70,200 00
28,405 03

$1 ,848,736 28

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

Sh.s.
Bank and Trust Company Stocks
15 First National Bank, Marlborough


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,848,736 28

Par Value

$183,600
280,000
8,000
5,000
45,455

00
00
00
00
00

Estimated
Market Value
$181,910
259,720
7,870
4,900
45,475

00
00
00
00
75

Book Value

$182,408
274,978
7,995
5,000
45,455

75
50
00
00
00

64,500 00

64,441 25

64,500 00

$586,555 00

$564,317 00

$580,337 25

$1,500 00

$1,875 00

$1,350 00

No. 8]

BANK COMMISSIONER

213

North Avenue Savings Bank — Concluded
T

A

otal

m ount of

L

oans on

31, 1908,

ct.

Loans on Real
Estate

R ate

b e a r in g

$25,000
15.000
50.000
7 7.000
2 5.000
50
7 1,600
5,200
5,000
60.000
2 7 ,3 7 4

4 0,850 00
2 7,625 00

.

T

otal

E

e p o s it s

and

W

on

D

5 .1 8 per cent.

Y

for

e a r

,

e x c l u s iv e

Rent

d u r in g

Y

x a m in a t io n

,

B

axes

u il d in g

and

F

Total
$4,922 13
.2 661 of 1 %

ix t u r e s

Book value
Estim ated value
Assessed value .
D

$61,592 55

e p o s it

A

S t a t is t ic s

anks

is c e l l a n e o u s

E

an k

T

Other Expenses
$1,630 88
.0 8 8 2 of 1 %

$37,970 06
40,0 0 0 00
3 1,400 00

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

ear

N um ber of corporators, 2 6 ; trustees, 16
Gross income rec’d during year . $82,7 3 4 79
State ta x (net) paid “
“
.
4,383 54
of

B

ear

. $ 4 1 5,686 08
8 ,508
$358,256 40
5,875
$119,022 23

d u r in g

B

Y

State

of

Advertising
$53 75
.0 0 2 8 of 1 %

Eliot National Bank, Boston
. $ 12,776 49
Faneuil H a ll N ’l Bank, Boston .
16,412 44
National Shawmut Bank, Boston
17,030 07

ate

6,900 00

4 .4 8 per cent.

.

in

16,500 00

00
00
00
00
00
00
00
00
00
00
00
11

5 .5 8 per cent.

. $30,083 97
. 31 ,5 0 8 58

e p o s it

$ 39,455
2 5.000
19.000
57,500
822,351
2 5 .000
40,900
106,125
5,200
5,000
60.000
2 7 ,3 7 4

5 .0 5 per cent.

it h d r a w a l s

Jan., 1908, 2 % .
July, 1908, 2 % .

D

Total Loans

$1,2 3 2 ,9 0 5 11

xpen ses

declared

n terest

$ 62,855 00

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits
iv id e n d s

00
00
00
00
00
00
00
00
00
00
11

I

$36 1 ,2 2 4 11

Am ount paid for
$3,237 50
% of total assets .1 751 of 1 %

M

Other Loans

of

$808,826 00

Salaries

Cash

ate

$39,455 00

Average rate

D

S p e c if ie d R

ach

Loans on Personal
Security

$4,000 00
7,500 00
728,851 00

T otals

D

E

§

................................................>0

O

of

L

973
641
6,201
$282 23

oans

N o. not exceeding $ 3,000 each
224
A m ount of same
$359,712 00
N o. of loans on real estate .
287
Average amount of same
$2,818 21
Am ount loaned on real estate
during year
$94,330 00
N o. of new real estate loans
made during year .
57

September 18

NORTH BROOKFIELD SAVINGS BANK, NORTH BROOKFIELD
President, G

R. H a m a n t
Treasurer, C h a r l e s E . B a t c h e l l e r
Clerk of the Corporation, C h a r l e s E . B a t c h e l l e r

eorge

Board of Investment: G

eorge

R. H
G

Incorporated Feb. 28, 1854.
9 a . m . to 1

am an t

eorge

, Su

R. D

m ner

H

olm es,

E. A

llen

H

arw o o d

,

oane

Open for business every business day, except Saturdays,
., 2 to 4 p . m . ; Saturdays, 9 a . m . to 12 m .

p .m

Deposits commence to draw interest the first three days of January, April, July and
October. Dividends are payable the third day of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

[Pub. Doc.

RE PO R T OF THE

214

North Brookfield Savings Bank — Continued
B

alance

Sh

ee t

, O

31, 1908

ctober

L ia b ilitie s

A ssets
$75,500 00
Public funds
.
.
.
.
127,000 00
Railroad bonds .
.
.
.
10,000 00
Street railway bonds
25,000 00
Boston Terminal Company bonds .
1,400 00
Bank and trust company stocks
21,000 00
Loans to counties, cities or towns .
319,725 00
“
on real estate
8,000 00
Bank building and fixtures .
22,706 29
Real estate by foreclosure, etc.
7,685 59
Deposits in banks, on interest
2,142 54
Cash on hand
.
.
.
.
10 00
Checks
.
.
.
.
.

$556,423 12

Deposits .
Surplus:
Guaranty fund
Profit and loss

39,500 00
16,968 40

Interest, rents, etc.
Less current
Expenses .

.

$7,931 06

$620,169 42

$620,169 42

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

7,277 90

653 16

$57,500
127,000
10,000
2 5,000
2 1,000

.
.
.

legal
.
'

00
00
00
00
00

Estimated
Market Value

Book Value

$59,140
129,102
10,700
2 4,500
2 0,550

$57,500
127,000
10,000
2 5,000
2 1,000

00
50
00
00
00

00
00
00
00
00

18,000 00

19,200 00

18,000 00

$258,500 00

$263,192 50

$258,500 00

$1,000 00
400 00

$1,950 00
440 00

$1,000 00
400 00

$1,400 00

$2,390 00

$1,400 00

Bank and Trust Company Stocks
10 Eliot National Bank, Boston
4 W a re National Bank, W are

Shs.

T

otal

A

m ount of

L

oans on

O

ct.

31, 1908,

Loans on Real
Estate

R ate

b e a r in g

E

S p e c if ie d R

ach

Loans on Personal
Security

Other Loans

“
“

T otals

“
“

.

.

.

Average rate

otal

E

D

e p o s it s

and

W

it h d r a w a l s

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

for

Y

e a r

,

$21,000 00

$340,725 00

3 .9 2 per cent.

5 .1 0 per cent.

e x c l u s iv e

Rent
$340 59
.0 5 4 9 of 1 %
d u r in g

Y

ear

. $61,825 15
1,032
. $ 94,954 70
1,339
. $ 11,275 37

Total Loans

-

$ 3 1 9,725 00

xpen ses

n terest

-

-

Salaries
A m ount paid for
$1,336 10
% of total assets .2 1 5 4 of 1 %

I

$18,000 00
147,800 00
174,925 00

$144,800 00
174,925 00

5 .2 7 per cent.

T

of

$ 18,000 00
3 ,000 00
-

3 f per cent.
5
h\

ate

of

Advertising

B

an k

B

State

T

a xes

Other Expenses
$598 71
.0 9 6 5 of 1 %
u il d in g

Book value
Estim ated value
Assessed value .

and

F

Total
$2,275 40
.3 6 6 8 of 1 %
ix t u r e s

$8,000 00
10,000 00
10,000 00

No. 8]

BANK COMMISSIONER

215

North Brookfield Savings Bank — Concluded
D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $10,933 56
July, 1908, 2 % .
. 10,920 62 $21,8 5 4 18
C a s h o n D e p o s it i n B a n k s
National Shawmut Bank, Boston
W orcester Trust Co., W orcester .

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

$1,590 17
6,095 42

M is c e l l a n e o u s
Num ber of corporators, 3 4 ; trustees, 14
Gross income rec’d during year . $29,739 66
State ta x (net) paid “
“
.
767 51
D ate

o f

E x a m i n a t i o n , March 26

163
153
2 ,016
$276 00

S t a t is t ic s o f L o a n s
No. not exceeding $3,000 each
227
Am ount of same
$ 2 2 9,875 00
No. of loans on real estate .
248
Average am ount of same
$1,289 21
A m ount loaned on real estate
during year
$7,925 00
No. of new real estate loans
made during year .
6

NORTH EASTON SAVINGS BANK, NORTH EASTON
President, W

H . A m es
Treasurer, C h e s t e r R . F ie l d
Clerk of the Corporation, C h e s t e r R . F ie l d

il l ia m

Board of Investment: W

m.

Incorporated Feb. 8, 1864.
9 a .m . to 12

H . A m es, W . K . G o w a r d , O a k es A m es, H . W . F r e n c h ,
G . E . Sh e p a r d
Open for business every business day, except Saturdays,
m

., 1.30 to 3 p .m . ; Saturdays, 9 a .m . to 12 m .

Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the fifteenth day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Telephone company bonds .
Bank and trust company stocks
Loans to railroad companies
“ on real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Premiums .
.
.
.
Deposits in banks, on interest
Cash on hand

L ia b il it ie s
. $46,550 00
. 241,716 67
.
15,000 00
5,000 00
8,808 61
.
10,621 72
.
70,000 00
. 871,207 17
. 690,000 00
.
39,000 00
6,842 47
.
14,459 69
.
75,391 65
2,075 72

.$1,994,915 50

Deposits .
Surplus:
Guaranty fund
Profit and loss

94,287 06
6,029 76

Interest, rents, etc.
Less current
Expenses .

.

$1,699 67
258 29

$2,096,673 70

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Bonds and notes which are not now
investm ents
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,096,673 70

Par Value

Schedule of Securities Owned

.
.
.
legal
.

1,441 38

$46,550
2 40,000
15,000
5,000
10,000

00
00
00
00
00

Estimated
Market Value

Book Value

$46,550
224,725
14,925
4,900
9,037

$46,550
236,7 1 6
15,000
5.000
8,808

00
00
00
00
50

00
67
00
00

61

75,000 00

74,450 0 0

75,000 0 0

$401,550 00

$378,347 50

$392,075 28

216

R E PO R T OF THE

[Pub. Doc

North Easton Savings Bank — Concluded
Schedule of Securities Owned

Shs.
Bank and Trust Company Stocks
40 National Shawmut Bank, Boston
12 Tremont National Bank, Boston
38 Bristol Co. National Bank, Taunton

T otal A m ou nt

of

L oans

on

O c t . 31, 1908,

Loans on Real
Estate

R ate

;;

5 i

“

5f
6
6i

“
“

“

7

“

“

“

T o ta ls

“

•
.
■
■
.
.
.
.

“
“
«

.

A v e r a g e ra te

2 1 8 ,4 1 2 3 9
.
.
.

$ 4,000 00
420 00
3 ,800 00

$ 11,600 00
12 00
3 ,9 2 8 00

$6,000 00
61 72
4,560 00

$8,220 00

$ 15,540 00

$10,621 72

b e a r in g

$ 2 2 8 ,0 0 0
6 0 ,0 0 0
4 0 .0 0 0
3 1 .0 0 0
1 0 5 .0 0 0
1 0 5 .0 0 0
9 9 .0 0 0
1 2 .0 0 0
1 0 ,0 0 0

$ 1 5 ,0 0 0 0 0
5 0 7 ,4 0 5 0 0

.

Estimated
Market Value

E a c h S p e c if ie d R

Loans on Personal
Security

4 .j p e r c e n t .
4f
5
5i

Par Value

1 2 4 ,7 8 9 7 8
4 ,5 0 0 0 0
1 ,1 0 0 0 0

Book Value

ate of

Other Loans

00
00
00
00
00
00
00
00
00

Interest

Total Loans

$ 2 2 8 ,0 0 0
7 5 .0 0 0
6 1 7 ,4 0 5
3 1 .0 0 0
3 2 3 ,4 1 2
1 0 5 ,0 0 0
2 2 3 ,7 8 9
1 6 ,5 0 0
1 1 ,1 0 0

$ 7 0 ,0 0 0 0 0

00
00
00
00
39
00
78
00
00

$ 8 7 1 ,2 0 7 17

$ 6 9 0 ,0 0 0 0 0

$ 7 0 ,0 0 0 0 0

$ 1 ,6 3 1 ,2 0 7 17

5 .2 7 p e r ce n t.

5 .2 1 p e r c e n t.

5 .0 0 p e r ce n t.

5 .2 4 p e r ce n t.

T otal E xpen ses

for

Salaries

Y

e a r , e x c l u s iv e

Rent

Am ount paid for
$ 3 ,1 8 4 88
% of total assets . 1519 of 1 %
D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $214,321 61
N um ber of same
2 212
A m ount of withdrawals
$ 3 0 6 ,0 4 9 3 5
N um ber of same
2 ,7 1 8
$ 1 4 ,7 1 2 7 8
N et decrease in deposits
D iv i d e n d s d e c l a r e d d u r i n g Y e a r
April, 1908, 2 %
. $38,642 23
O ct., 1908, 2 %
. 3 8 ,372 73 $77,0 1 4 96

of

Advertising
$13 00
.0 0 0 6 of 1 %

Sta t e T a x e s

Other Expenses
$1,123 56
.0 5 3 5 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$4,321 44
.2 0 5 6 of 1 %

F ix t u r e s
$39,000
40,0 0 0
2 1,260
111

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

C a s h o n D e p o s it i n B a n k s
N ational Shawmut B ’k, Boston .
First N ’l B ’k of Easton, N . E aston

00
00
00
89

367
386
4 ,1 5 5
$480 12

S t a t is t ic s o p L o a n s
$ 55,136 64 *
N o. not exceeding $3,000 each
20 ,2 5 5 01
267
Am ount of same
.
. !$308,267 89
344
N o. of loans on real estate .
M is c e l l a n e o u s
Average am ount of same
$2,532 57
N um ber of corporators, 2 0 ; trustees, 19
Am ount loaned on real estate
Gross income ree’d during year . $ 99,261 71
during year
.
.
. $78,901 96
State ta x (net) paid “
“
.
5 ,9 0 8 34
N o. of new real estate loans
made during year .
.
33
D a t e o f E x a m i n a t i o n , M ay 20
This amount, in excess of the legal limit, has since been reduced.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

217

BANK COMMISSIONER

’No. 8]

NORTH END SAVINGS BANK, BOSTON
President, C l in t o n V i l e s
Treasurer, F r a n k E . B u x t o n
Clerk of the Corporation, J o h n H . C o l b y
Board of Investment: C l in t o n V i l e s , W m . G. S h i l l a b e r , J o h n T . B u r n e t t ,
C h a r l e s E . W i g g i n , F r e d e r ic O. N o r t h , S i d n e y F . S q u i r e s , C a r l e t o n E . N o y e s
Incorporated Feb. 17, 1870. Open for business every business day, 9
also Saturdays, for deposits only, until 8 p .m .

a .m .

to 2

p .m .;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

A ss e t s

. $61,235
Public funds
. 559,046
Railroad bonds .
Boston Terminal Company bonds . 217,108
40,000
Loans to counties, cities or towns .
“ on bank and trust co. stocks
500
650
“
“ depositors’ books .
.2,414,452
“
“ real estate
.1,563,621
“
“ personal security
.
14,917
Real estate by foreclosure, etc.
. 239,658
Deposits in banks, on interest
4,490
Cash on hand

00
65
00
00
00
00
80
00
63
96
82

.$4,778,982 05

Deposits .
Surplus:
Guaranty fund
Profit and loss

.
.

Interest, rents, etc.
Less current
Expenses .

. $40,227 03
.

6,638 72

Public funds
.
.
Railroad bonds
.
.
Boston Terminal Company
Loans to counties, cities or

.
.
.
.
bonds
towns

Par Value

$60,000
555,000
205,0 0 0
4 0,000

.
.

Shs.
Bank and Trust Company Stocks
13 Tremont National Bank, Boston

T

otal

A mount

of

L oans

.

4i

“

“

.
■

44
5
5Ì
5Ì
6

“

“

'

“

“

“

.
.
.

.
.

“
“

“

.

.

T otals

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

3 f per cent.
4
“
“
4i “
“

on

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

$167,250 00
5,000 00
530,377 80
1,510 ,6 2 5
64,500
20,000
116,700

00
00
00
00

33,588 31

$5,115,680 86

$5,115,680 86

Schedule of Securities Owned

174,600 00
128,510 50

00
00
00
00

Estimated
Market Value

Book Value

$56,800
523,775
200,900
4 0,000

$61,235
559,046
217,1 0 8
40 ,0 0 0

00
00
00
00

$860,000 00

$821,475 00

$455 00

$13 00

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

$3,000 00
632,500
270.000
9 8,400
200.000
128,000
231,721

00
00
00
00
00
00

Other Loans

$ 40,000 00
150 00

500 00

500 00

00
65
00
00

$877,389 65

ate of

I nterest

Total Loans
$40,000
170,400
5,000
1 ,162,877
'2 7 0 ,0 0 0
1,609 ,5 2 5
2 64,500
148,000
348,921

00
00
00
80
00
00
00
00
00

$ 2 ,4 14,452 80

$1,563,621 00

$41,1 5 0 00

$ 4 ,0 19,223 80

4 .8 7 per cent.

4 .9 7 per cent.

3 .6 7 per cent.

4 .9 2 per cent.

218

RE PO R T OF THE

[Pub. D o c.’

North End Savings Bank — Concluded
T

E

otal

xpen ses

for

Salaries
Am ount paid for
$11,673 97
% of total assets .2281 of 1 %
D

e p o s it s

and

W

Y

ear

,

e x c l u s iv e

Rent
$5,500 00
.1 0 7 6 of 1 %

it h d r a w a l s d u r in g

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

Y

State

of

Advertising
' $354 0 0
.0 069 of 1 %
D

ear

$ 1 ,0 9 0 ,8 1 4 60
14,093
$ 1 ,0 8 0 ,7 1 4 13
11,225
. $ 1 8 3,146 36

e p o s it

iv id e n d s

declared

Cash

on

D

e p o s it

B

in

ear

89

anks

Beacon Trust Company, Boston
City Trust Company, Boston
First National Bank, Boston
Metropolitan N ’l Bank, Boston
National Security Bank, Boston
Puritan Trust Company, Boston
U nited States Trust Co., Boston
M

Y

d u r in g

. $86,297 88
. 86,748 01 $ 1 7 3,045

.
.

. $12,300
50,000
10,000
.
9 1,958
.
5 0,000
.
7,700
.
17,700

00
00
00

a xe s

A

Total
$21,717 45
.4 2 4 4 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
Total number Oct. 31, 1908 .
Average balance “
“
.
S t a t is t ic s

D

Jan., 1908, 2 % .
July, 1908, 2 % .

T

Other Expenses
$4,189 48
.0 8 1 8 of 1 %

of

L

1,710
1,389
11,867
$402 71

oans

N o. not exceeding $3,000 each
292
Am ount of same
.
. $487,783 50
N o. of loans on real estate .
469
Average amount of same
.
$ 5,148 08
Am ount loaned on real estate
during year
.
.
. $317,490 00
N o. of new real estate loans
made during year .
.
65

96

00
00
00

D

ate

of

E

x a m in a t io n

,

M ay 27

is c e l l a n e o u s

N um ber of corporators, 2 0 ; trustees, 20
Gross income rec’d during year . $232,602 61
State ta x (net) paid “
“
.
10,775 58

NORTH MIDDLESEX SAVINGS BANK, AYER
President, D

a n ie l

W .

F

letch er

Clerk of the Corporation, E
Board of Investment:

D

a n ie l

O

W .

l iv e r

F

dw ard

Treasurer, S a r a h T . T
A. R ic h a r d s o n

, H o w a r d B. W
, P eter T arbell

letch er

K. P

ie r c e

h it e

,

F

ran k

uten

A.

P

atch

,

Incorporated March 5, 1885. Open for business every business day, except Saturdays
9 to 1 1 a . m ., 12.30 t o 3 p . m . ; Saturdays, 8 a . m . to 1 p . m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifth day of January and July

B

alance

Sh

eet

, O

A ssets
Public funds
.
.
.
. $57,000 00
Railroad bonds .
.
.
. 219,450 00
Street railway bonds .
60,000 00
Boston Terminal Company bonds .
55,773 37
Bank and trust company stocks
14,249 71
Loans to counties, cities or towns . 112,600 00
“
“ railroad companies
10,000 00
on bank and trust co. stocks
2,700 00
“
“ depositors’ books .
350 00
“ real estate
527,630 91
“ personal security
108,116 00
Bank building and fixtures .
35,000 00
Real estate by foreclosure, etc.
3,380 09
Deposits in banks, on interest
8,000 00
“
“
“
not on interest .
987 94
Cash on hand
.
.
.
.
447 13
Checks and cash items
218 84


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,215,903 99

ctober

31, 1908

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.$1,153,473 69
.

35,000 00
19,016 97

Interest, rents, etc.
$9,850 65
Less current
Expenses . $1,067 58
Taxes
.
477 04
1,544 62

S,306 03

Tellers’ overs

.

107 30

$1,215,903 99

No. 8]

BANK COMMISSIONER

219

North Middlesex Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.

40
5
10
5
10
15
20
20

Estimated
Market Value

Par Value

Schedule of Securities Owned

.
.
.

$57,000
221,0 0 0
60,000
50,000
112,600

legal
.

00
00
00
00
00

$ 54,555
212,410
60,900
49,000
112,600

L oans

on

10,000 00

$510,600 00

$499,565 00

$514,823 37

$4,000
500
1,000
500
1,000
1,500

00
00
00
00
00
00

$ 6,000
700
1,950
600
2 ,900
2 ,1 7 5
60
3 ,400

_

2,000 00

O c t . 31, 1908,

Loans on Real
Estate

R ate

b e a r in g

4
4*

4f
5
5i

6

“
“

“
“

.

.

.

.

“
“
“
“
“

“
“
“
“
“

.
.
.
.

T otals

•

.

Average rate

.
.

$9 ,4 9 4
2 6,600
3 ,9 5 0
401,3 8 0
14,000
7 2,206

E a c h S p e c if ie d R

Loans on Personal
Security

$ 1 3 ,1 2 5
37,800
18,300
38,891

“»

5 .1 0 per cent.

5 .4 1 per cent.

3 .8 9 per cent.

for

Y

$ 51,000
4 ,500
6 6,594
26 ,6 0 0
1 7,075
4 52,230
32,300
111,097

13,050 00

$ 1 2 5,650 00

e a r , e x c l u s iv e

Rent

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $173,484 84
N um ber of same
3,251
Am ount of withdrawals
$246,433 01
N um ber of same
2 ,950
N et decrease in deposits
$31,473 78
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, l f %
. $ 1 9 ,5 3 5 96
July, 1908, 2 % .
. 21,9 3 8 43 $41,4 7 4 39


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00

of

Advertising

I nterest

Total Loans

$1 0 8 ,1 1 6 00

Salaries
Am ount paid for
$2,699 04
% of total assets .2 219 of 1 %

ate of

$51,000 00
4,500 00
57,100 00

71
00
00
20
00
00

25
00
00
00
00
46
00
00

$14,249 71

Other Loans

$527,630 91

T otal E x pen ses

$4,247
970
1,355
840
1,500
2,127
210
3 ,000

00
00
00
00
00
00
00
00

$ 17,785 00

3-j per cent.
3-J

00
00
00
37
00

10,100 00

$10,500 00

of

$57,000
219,450
60,000
55,773
112,600

00
00
00
00
00

10,000 00

Bank and Trust Company Stocks
First National Bank, Ayer
Commercial National Bank, Boston
Eliot National Bank, Boston
Peoples National Bank, Boston .
National Shawmut Bank, Boston
State National Bank, Boston
Prescott National Bank, Lowell .
Merchants National Bank, W orcester .

T otal A mount

Book Value

00
00
71
00
00
20
00
00

$ 7 6 1,396 91
4 .9 4 per cent.

St a t e T a x e s
Other Expenses
$1,311 92
.1 0 7 9 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income
.

and

.
.
.
.

Total
$ 4,010 96
.3 2 9 8 of 1 %

F ix t u r e s
. $ 35,000
.
3 6,500
.
27,7 3 4
.
1,237

D e p o s it A cc o u n ts
N um ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

00
00
88
71

405
469
4 ,0 6 8
$283 54

220

R E PO R T OF THE

[Pub. Doc.

North Middlesex Savings Bank — Concluded
C a s h o n D e p o s it i n B a n k s
First National Bank, A yer .
.
National Shawmut Bank, Boston

$ 8 ,6 0 7 68
380 26

M is c e l l a n e o u s
Num ber of corporators, 2 5 ; trustees, 20
Gross income rec’d during year . $ 5 5 ,7 4 2 9 4
State ta x (net) paid “
“
,
2 ,7 2 3 12
D ate

of

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
359
Am ount of same
.
. $425,448 91
N o. of loans on real estate .
335
Average amount of same
.
$1 ,5 7 5 01
Am ount loaned on real estate
during year
.
.
. $39,000 00
N o. of new real estate loans
made during year .
.
20

E x a m i n a t i o n , A p ril 2 4

ORANGE SAVINGS BANK, ORANGE
President, A d e l b e r t W . B a l l o u
Treasurer, G e o r g e W . A n d r e w s
Clerk of the Corporation, G e o r g e W . A n d r e w s
Board of Investment: A . W . B a l l o u , J. D . H
Incorporated March 30, 1871.

ow e,

A . J. F is h e r

Open for business every business day, 9

a .m .

to 3

p .m .

Deposits commence to draw interest'the first d ay of February, M ay, August and N ovem ber
Dividends are payable the first day of February and August

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
.
.
.
$129,848
Railroad bonds .
.
.
.
404,864
Street railway bonds
20,000
Boston Terminal Company bonds .
10,000
Telephone company bonds .
33,322
Bank and trust company stocks
19,225
Loans to counties, cities or towns .
48,400
“
“ railroad companies
15,000
on bank and trust co. stocks
3,225
“ real estate
1,141,230
“ personal security
75,351
Bank building and fixtures .
7,500
Real estate by foreclosure, etc.
2,917
in possession
5,899
Stocks, bonds, etc., taken to secure
indebtedness .
6,000
Premiums .
.
.
.
.
4,210
Deposits in banks, on interest
37,000
“
“
“
not on interest .
3,442
Cash on hand
.
.
.
.
6,121

L ia b il it ie s
75
75
00
00
50
00
00
00
00
00
00
00
31
30

Deposits .
Surplus:
Guaranty fund
Profit and loss

.11,833,712 52
72,500 00
48,985 64

Interest, rents, etc.
Less current
Expenses .

. $19,447 47
1,088 90

00
00
00
12
00

$1,973,556 73 •


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,973,556 73

Estimated
Market Value

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or t o m s
Bonds and notes which are not now
investments
.
.
.
.

18,358 57

.
.
.

legal
.

$109,000
405,000
20,000
10,000
37,000
48,400

00
00
00
00
00
00

$108,646
381,5 6 5
21,400
9,800
3 3,438
48,490

25
00
00
00
75
00

Book Value

$108,848
399,8 6 4
20,000
10,000
33,322
48,400

75
75
00
00
50
00

41,000 00

40,057 50

41,000 00

$670,400 00

$643,397 45

$661,436 00

221

BANK COMMISSIONER

No. 8]

Orange Savings B a n k — Concluded
j

Schedule of Securities Owned

Shs.
6
20
15
8
43
100
10

Bank and Trust Company Stocks
Millers R iver National Bank, Athol
First W a rd National Bank, Boston
Trem ont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
Franklin Co. N ’l Bank, Greenfield
Orange National Bank, Orange
Third National Bank, Springfield

.

Par Value

Market V'afue

Boob Value

$600
2 ,000
525
800
4,300
10,000
1,000

$1,020
3 ,500
15
1,160
4,300
18,500
2 ,000

$600
2,000
525
800
4,300
10,000
1,000

00
00
00
00
00
00
00

of

L oans

T otals

O c t . 31, 1908,

b e a r in g

_

.

.

.
.

.
.

.
.

.
.

.

Average rate

$5,500
30,000
1,089 ,8 1 5
7,300
8 ,8 1 5

00
00
00
00
00
00
00

$ 1 ,1 41,230 00

$75,351 00

$66,625 00

$1,2 8 3 ,2 0 6 00

5 .0 0 per cent.

5 .5 6 per cent.

4 .5 1 per cent.

5 .0 1 per cent.

for

Y

-

e a r , e x c l u s iv e

Rent
* $90 00
.0 0 4 5 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $249,240 52
3,390
N um ber of same
$27 1 ,9 2 4 16
Am ount of withdrawals
3,534
Num ber of same
$46,657 86
N et increase in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Feb., 1908, 2 %
. $34,280 26
A u g ., 1908, 2 %
. 35,061 24 $69,341 50
C a s h o n D e p o s it i n B a n k s
A th ol National Bank, A thol
.
N ortham pton
National
Bank,
Northam pton
.
.
.
Orange National Bank, Orange .

$10,000 00
7,000 00
2 3,442 12

M is c e l l a n e o u s
N um ber of corporators, 2 3 ; trustees, 10
Gross income rec’d during year . $89,058 35
State ta x (net) paid “
“
.
3 ,0 2 5 24
E x a m i n a t i o n , February 6


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,000
17,300
2 8,500
3 3,500
1,131 ,1 9 5
3 2,300
38,411

00
00
00
00
00

$20,580 00
2 5,000 00
29,771 00

Salaries
A m ount paid for
$ 3,178 96
% of total assets .1611 of 1 %

of

$2,000
17,300
23,000
3 ,500
20,800

Interest

Total Loans

Other Loans

—

of

00
00
00
00
00

T otal E x pen ses

D ate

E a c h S p e c if ie d R a t e

Loans on Personal
Security

Loans on Real
Estate

R ate

?>\ per cent.
4
“
“
Ai “
“
4f “
“
5
“
“
5i
“
“
6
“
“

on

00
00
00
00
00
00
00

$19,2 2 5 00

$ 30,495 00

$ 19,225 00

T otal A m ount

00
00
00
00
00
00
00

-

25 00

of

St a t e T a x e s

Advertising
$43 12
.0 0 2 2 of 1 %

Other Expenses
$1 ,1 4 5 11
.0 5 8 0 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$4,457 19
.2 2 5 8 of 1 %

F ix t u r e s
$7,500
7,500
7,700
215

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
T otal number Oct. 31, 1908 .
Average balance “
“

00
00
00
53

473
450
5,547
$330 57

S t a t is t ic s o f L o a n s
317
No. not exceeding $3,000 each
$296,576 00
A m ount of same
365
N o. of loans on real estate .
$3 ,1 2 6 66
Average amount of same
Am ount loaned on real estate
during year
.
.
. $108,680 00
N o. of new real estate loans
made during year .
.
35

222

R E PO R T OF THE

[Pub. Doc.

PALMER SAVINGS BANK, PALMER
President, E l b r id g e G. H a st in g s
Treasurer, C h a r l e s L . W
Clerk of the Corporation, C h a r l e s L . W a id

a id

Board of Investment: E . G. H a s t in g s , H . G. L o o m is , W . E . S t o n e , C. F . Sm it h
H . E . W . Cl a r k
Incorporated March 4, 1870. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 12 m .; also Fridays, 7.30 to 9 p .m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets

Public funds
. $299,000
Railroad bonds .
. 310,615
Street railway bonds
.
10,000
Bank and trust company stocks
.
18,100
Loans to counties, cities or towns
6,272
railroad companies
.
15,000
on bank and trust co. stocks
5,480
depositors’ books .
1,025
real estate
.1,432,044
personal security
. 113,721
Bank building and fixtures .
.
60,200
Insurance, bank building
250
Deposits in banks, on interest
.
83,290
not on interest
2,500
Cash on hand
9,299
Checks and cash items
1

L ia b il it ie s

00
00
00
00
00
00
00
00
00
00
00
00
84
00
87
55

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$2,223,765 95
111,000 00
28,659 91

Interest, rents, etc.
Less current
Expenses .

.

$5,218 73

.

1,845 33

$2,366,799 26

Schedule op Securities Owned

.
.
.

$289,000
314,000
10,000
6,272

legal
.

Shs.
Bank and Trust Com pany Stocks
33 Monson National Bank, Monson
98 Palmer National Bank, Palmer .
50 Chapin National Bank, Springfield

T otal A m ount

of

L oans

4^ per cent.
5
“
“

6
6*

“
“
“

T otals

«
“
“

O c t . 31, 1908,

Loans on Real
Estate

R ate

5i

on

.
.
■

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

$ 1 ,3 47,849
3 5,070
4 8,925
200

$2,366,799 26

Par Value

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

3,373 40

00
00
00
00

Estimated
Market Value
$290,547
3 09,210
9 ,9 5 0
6,272

Book Value

00
00
00
00

$289,000
3 1 0 ,6 1 5
10,000
6,272

00
00
00
00

2 5 ,0 »0 00

25 ,4 5 0 00

2 5,000 00

$644,272 00

$641,429 00

$640,887 00

$3,300 00
9 ,800 00
5,000 00

$ 3 ,960 00
9 ,800 00
5,000 00

$ 3,300 00
9 ,800 00
5,000 00

$18,100 00

$18,760 00

$ 18,100 00

b e a r in g

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$6,272 00
2 0,550 00
955 00

a te of

I nterest

Total Loans

$6,272
1 ,412,210
90 ,5 6 5
49 ,2 9 5
200

00
00
00
00
00

00
00
00
00

$58,811 00
54,540 00
370 00

$ 1 ,4 3 2 ,0 4 4 00

$113,721 00

$27,777 00

$1,5 5 8 ,5 4 2 00

5 .0 4 per cent.

5 .2 4 per cent.

4 .9 0 per cent.

5 .0 5 per cent.

223

BANK COMMISSIONER .

No. 8]

Palmer Savings Bank — Concluded
T otal E xpen ses

Salaries

fob

Y

e a r , e x c l u s iv e

Rent

St a t e T a x e s

$35 35
.0 0 1 4 of 1 %

$625 GO
.0 2 6 4 of 1 %

$4,166 63
Am ount paid for
■% of total assets .1 760 of 1 %

of

Advertising

an d

F ix t u r e s
$60,200
60,200
49,9 7 5
1,603

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
T otal number Oct. 31, 1908 .
Average balance “
“

D i v i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $42,383 28
July, 1908, 2 % .
. 42,693 43 $ 85,076 71
C a s h o n D e p o s it i n B a n k s
Palmer National Bank, Palmer . $ 23,755
9 ,783
Springfield N ’l B ’k, Springfield
Springfield Safe Deposit & Trust
2 4,578
Com pany, Springfield
25,173
U nion Trust Co., Springfield
2,500
Taunton S. D. & T . Co., Taunton .

$6,206 50
.2 6 2 0 of 1 %

$1,379 52
.0 5 8 2 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
Net income

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $364,771 43
Num ber of same
.
.
.
4 ,275
Am ount of withdrawal* , .
. $448,668 45
N um ber of same
.
.
.
4,282
N et increase in deposits
.
.
$1,179 69

Total

Other Expenses

00
00
00
87

749
766
5,356
$415 19

S t a t is t ic s o f L o a n s
502
N o. not exceeding $3,000 each
$609,498 00
A m ount of same
547
37 N o. of loans on real estate .
$2,617 99
15 Average amount of same
0 0 * A m ount loaned on real estate
during year
.
.
. $ 95,358 85
N o. of new real estate loans
M is c e l l a n e o u s
made during year .
.
46
Num ber of corporators, 5 2 ; trustees, 17
Gross income rec’d during year . $107,2 5 5 02
D
a
t
e
o
f
E
x
a
m
i
n
a
t
i
o
n
,
March
18,
19
State ta x (net) paid “
“
.
3,659 85
42
90

* In liquidation.

PENTUCKET SAVINGS BANK, HAVERH ILL
President, G e o r g e H . C a r l e t o n
Clerk of the Corporation, R

Treasurer, R a y m o n d L . K n o w l e s
L. K now les

aym ond

Board of Investment: G e o r g e H . C a r l e t o n , J o s e p h W . V i t t u m , O l i v e r T a y l o r ,
C h a r l e s H . S. D u r g in
Incorporated March 17, 1891. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m . ; Saturdays, 9 a .m . to 12.30 p .m . and 7 to 8.3 0 p .m ., except during
July and August
Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the first W ednesday of February and August

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
“ on bank and trust co. stocks
“
“ depositors’ books .
“
“ real estate
“
“ personal security
Bank building and fixtures .
Deposits in banks, on interest
-Cash on hand


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L ia b il it ie s

.$1,270,932 67

$52,000 00
228,410 04
20,000 00

Deposits .
Surplus:
Guaranty fund
Profit and loss

17,643
4,200
18,075
13,800
75
553,439
281,741
41,500
69,529
1,718

$5,278 17
Interest, rents, etc.
Less current
Expenses . $1,562 01
2,176 33
Taxes
.
614 32

10,000 00
75
00
00
00
64
00
25
00
54
54

$1,312,132 76

30,685 00
7,413 25

3,101 84

$1,312,132 76

224

R E PO R T OF THE

[Pub. Doc.

Pentucket Savings Bank — Concluded
Schedule of Securities Owned

Far Value

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.
.

$44,000
235,000
15.000
10.000
2 0,000
1 8,075

legal
.

Shs.
Bank and Trust Company Stocks
35 Fourth National Bank, Boston .
7 State National Bank, Boston

T otal A m ount

of

L oans

Loans on Real
Estate

R ate

4 per cent.
41 «
a
5
“
5i
“
5 %. “

6
6i
6i
7

“
“
“

“

“

“
“
“

“
“
“

T otals

O c t . 31, 1908,

on

00
00
00
00
00
00

Estimated
Market Value

Book Value

$44,816
2 17,372
14,925
9 ,800
18.075
18.075

$44,000
2 28,410
15.000
10.000
17,643
18,075

00
50
00
00
00
00

13,000 00

1 3,205 00

13,000 00

$ 3 5 5,075 00

$336,268 50

$346,1 2 8 79

$3,500 00
700 00

$ 5 ,600 00
1,015 00

$3,500 00
700 00

$4,200 00

$ 6 ,615 00

$4,200 00

b e a r in g

E a c h S p e c if ie d R a t e

Loans on Personal
Security

of

Other Loans

.
.

.
.

.
.

$ 27,500 00
445,909 00
4,200 00

$90,000
14,191
5 0.000
3 0.000
4 6,050
10.000
16,000
2 5 ,500

75,830 00

.

Average rate

00
25
00
00
00
00
00
00

$18,0 7 5
117,500
4 60,100
58,200
3 0,800
121,955
10,000
2 5,000
25 ,5 0 0

4.000 00
800 00
75 64
9 .000 00

$281,741 25

$31,9 5 0 64

$867,130 89

5 .1 1 per cent.

5 .4 8 per cent.

4 .9 4 per cent.

5 .2 2 per cent.

Salaries
Am ount paid for
$3,452 65
% of total assets .2 6 3 0 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$ 1,000 00
. 0762 of 1 %

of

St a t e T a x e s

Advertising
$158 41
0120 of 1 %

Other Expenses
$1,2 8 4 32
.0971 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $246,569 98
N um ber of same
3 ,806
A m ount of withdrawals.
$257,982 28
N um ber of same
3 ,353
N et increase in deposits
$ 35,792 96

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Feb., 1908, 2 %
. $23,400 62
A u g ., 1908, 2 %
. 23,8 0 4 64 $ 47,205 26

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

C a s h o n D e p o s it i n B a n k s
Beacon Trust Co., Boston .
.
First National Bank, Haverhill .
Haverhill Trust Co., Haverhill
.

$ 8,135 04
31 ,2 5 5 59
3 0 ,1 3 8 91

M is c e l l a n e o u s
N um ber of corporators, 2 7 ; trustees, 16
Gross income rec’d during year . $63.8 2 4 49
State t a x ( n e t ) paid “
“
.
3 ,4 8 3 8 5
of

E x a m i n a t i o n , February 3


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
25
00
00
64
00
00
00

$553,439 00

T otal E xpen ses

D ate

I nterest

Total Loans

$18,0 7 5 00
.
.
.

00
04
00
00
75
00

and

Total
$5,895 38
.4 4 8 3 of 1 %

F ix t u r e s
$ 41,500
4 1.500
32 .5 0 0
2 ,9 7 4

00
00
00
42

492
390
3 ,3 8 4
$375 57

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
17!
A m ount of same
.
. $237,101 8!
N o. of loans on real estate .
21i
Average amount of same
.
$ 2,538 T.
Am ount loaned on real estate
during year
.
.
. $65,9 5 5 G1
N o. of new real estate loans
made during year .
.
3(

No. 8]

BANK COMMISSIONER

225

PEOPLE’S SAVINGS BANK, BROCKTON
L. D ouglas
Treasurer, A u g u s t u s T . J o n e s
Clerk of the Corporation, C h a r l e s P . H o l l a n d

President, W

il l i a m

Board of Investment:

W il l i a m L . D o u g l a s , E m e r y M. L o w , F r a n c is B . G a r d n e r ,
F r e d P. R ic h m o n d , E d w a r d B . M e l l e n

Incorporated Feb. 8, 1895. Open for business every business day, except Saturdays,
9 a .m . to 2 p .m .; Saturdays, 9 a .m . to 12 m .; Saturday evenings, except between
June 15 and Sept. 15, 7 to 8.3 0 p .m ., for deposits only
Deposits commence to draw interest the first day of March, June, September and December
Dividends are payable the Friday following the first Tuesday of March and September

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
$151,077
Railroad bonds .
.
.
380.353
Street railway bonds
38,400
Telephone company bonds .
28,157
Bank and trust company stocks
3,300
Loans to counties, cities or towns .
13,760
“
on railroad bonds
/
100
“ depositors’ books .
880
“
“ real estate
1,558,293
“
“ personal security
169,829
Bank building and fixtures .
47,990
Real estate by foreclosure, etc.
900
Taxes, insurance, etc., paid on
mortgaged properties
76
1,825
Premiums .
Furniture and fixtures .
1,000
Bank building expense account
255
Deposits in banks, on interest
120,180
8,932
Cash on hand
.

50
13
00
50
00
63
00
00
63
48
60
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
. . .

40 500 00
8,328 57

Interest, rents, etc.
. $7,928 28
Less current
Expenses . $1,976 13
Taxes
.
430 54
2,406 67

.
.
.

$151,100
401,500
18,000
32,000
13,800

legal
.

Shs.
Bank and Trust Company Stocks
20 Brockton National Bank, Brockton
13 Plym outh Co. S. D . & T . Co., Brockton

of

L oans

O c t . 31, 1908,

Loans on Real
Estate

Rate

3 .3 3 per cent.
3£
“
“
4
<<
“

on

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$2,525,311 62

Par Value

Schedule of Secuhities Owned

T otal A m ount

_
~

5,521 61

52
00
00
00
21
42

$2,525,311 62

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.$2,470,961 44

00
00
00
00
00

Estimated
Market Value
$147,715
368,925
17,955
28,920
13,760

50
00
00
00
63

Book Value

$151,077
380,353
17,400
28,157
13,760

50
13
00
50
63

30,000 00

30,565 00

30,000 00

$646,400 00

$598,801 13

$611,748 76

$2,000 00
1,300 00

$2,600 00
1,300 00

$2,000 00
1,300 00

$3,300 00

$3,900 00

$3,300 00

b e a r in g

E a c h S p e c if ie d R a t e

Loans on Personal
Security

_

Other Loans

$1,800 00
4 ,960 63
7,000 00

of

Interest

Total Loans

$1,800 00
4 ,960 63
7 ,000 00

[Pub. Doc.

R E PO R T OF THE

226

People’s Savings Bank, Brockton — Concluded
T otal A m ount

L oans

of

4 % per cent.

6
6*
7

“

;;

“
“
“
“
“

“
“

Totals

•
.
.
•
.
•
.

“
“

.

Loans on Personal
Security

.

$282,250 00
5,300 00
9 5 6 ,4 4 5 00

*

$16,500
2 5.000
950
72.000
30,379
2 5.000

176,398 63
137,900 00

•

.

Average rate

O c t . 3 1 , 1908, b e a r i n g E a c h S p e c if ie d R a t e
— Concluded

Loans on Real
Estate

Rate

4f
5
5i
5*

on

Other Loans

00
00
00
00
48
00

of

Interest

Total Loans

$ 2 8 2,250
5,300
9 7 2 ,9 4 5
2 5.000
177,348
210,880
3 0,379
2 5.000

$980 00

00
00
00
00
63
00
48
00

$ 1 ,5 58,293 63

$169,829 48

$14,740 63

$1,7 4 2 ,8 6 3 74

5 .0 5 per cent.

6 .0 2 per cent.

3 .8 8 per cent.

5 .1 4 per cent.

T otal E xpen ses

Salaries
Am ount paid for
$ 4,728 36
% of total assets .1 8 7 2 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$1,100 00
.0 4 3 5 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r i n g Y e a r
$ 1 ,1 05,252 72
Am ount of deposits .
26,551
N um ber of same
$ 1 ,0 8 3 ,0 2 5 60
Am ount of withdrawals
2 0,746
N um ber of same
. $ 1 0 2,104 87
N et increase in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
M ar., 1908, l f %
. $36,806 37
S ept., 1908, 2 %
. 43,071 38 $79,877 75
C a s h o n D e p o s it i n B a n k s
Brockton N ’l Bank, Brockton
. $44,961 52
H om e National Bank, Brockton . 54,090 06
P lym outh County Safe Deposit &
Trust Company, Brockton
.
2 1,128 63
M is c e l l a n e o u s
N um ber of corporators, 6 4 ; trustees, 25
Gross income rec’d during year . $116,757 98
State ta x (net) paid “
“
.
4,471 88

of

Advertising
$ 1,464 38
.0 579 of 1 %

State T a x e s

Other Expenses

Total

$2,700 88
.1 0 7 0 of 1 %

$9,993 62
.3 9 5 7 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value

and

.
.

F ix t u r e s
. $47,990 60
.
—*

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

3,382
2,793
1 2,424
$198 88

St a t i s t i c s o f L o a n s
N o. not exceeding $3,000 each
275
Am ount of same
.
. $385,643 63
N o. of loans on real estate .
397
Average amount of same
.
$3 ,9 2 5 17
Am ount loaned on real estate
during year
.
.
. $214,050 00
N o. of new real estate loans
made during year .
.
35
D ate

of

E x a m i n a t i o n , M ay 8

* In process of construction.

PEOPLES SAVINGS BANK, HOLYOKE
President, J o h n T i l l e y
Treasurer, F . FI. C h a m b e r l i n
Clerk of the Corporation, J o h n H i l d r e t h
Board of Investment: J o h n T i l l e y , J. A . S u l l i v a n , J. N . H
G e o r g e P. B . A l d e r m a n

ubbard,

J. D . H

ardy,

Incorporated March 19, 1885. Open for business every business day, except Saturdays,
9 a .m . to 4 p .m .; Saturdays, 9 a .m . to 12 m .; also Thursdays, 7 to 8 p .m .
Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the third Tuesday of M ay and N ovem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

No. 8]

227

BANK COMMISSIONER
Peoples Savings Bank, Holyoke — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908

A ssets
Railroad bonds .
. $252,078
Street railway bonds
500
Boston Terminal Company bonds .
75,000
Telephone company bonds .
.
39,859
Bank and trust company stocks .
67,320
Loans on railroad stocks
2,500
“ bank and trust co. stocks
16,425
.1,563,752
real estate
“
“ personal security .
. 340,006
. 160,930
Deposits in banks, on interest
Cash on hand
.
16,356
21
Checks and cash items
,

75
00
00
00
00
00
00
80
34
67
48
25

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

58,000 00
92,117 69

$2,534,750 29

$2,534,750 29

Estimated
Market Value

Par Value

Schedule of Secuhities Owned

Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds

.
.

$255,000
500
75,000
45,000

00
00
00
00

$ 2 3 8,625
520
7 3,500
4 0,668

$375,500 00
Shs.
70
20
110
100
21
145
50

Bank and Trust Company Stocks
City National Bank, H olyoke .
H a d ley Falls National Bank, H olyoke
H olyoke National Bank, H olyoke
H om e National Bank, H olyoke
Monson National Bank, Monson
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .

$ 7,000
2,000
11,000
10,000
2 ,100
14,500
5,000

of

L oans

6

“

T otals

“

O c t . 31, 1908,

Loans on Real
Estate

R ate

4-| per cent.
5
“
“
5* “
“

on

.
•
.

.

00
00
00
00
00
00
00

$8,400
2 ,760
19,800
12,500
2,520
14,500
7 ,500

$534,363 80
1,029,389 00

.

00
00
00
00
00
00
00

E a c h S p e c if ie d R

$15,725 00
700 00
2 ,500 00

75
00
00
00

$367,437 75

$7,233
2,700
18,150
11,250
2,512
17,675
7,800

00
00
00
00
00
00
00

$67,320 00

ate of

Other Loans

$241,363 67
34,200 00
64,442 67

$252,078
500
75,000
39,859

I nterest

Total Loans

$534,363
1 ,286,477
3 4,900
66,942

80
67
00
67

$1,5 6 3 ,7 5 2 80

$34 0 ,0 0 6 34

$18,925 00

$ 1 ,9 2 2 ,6 8 4 14

4 .8 3 per cent.

5 .2 4 per cent.

5 .1 5 per cent.

4 .9 1 per cent.

T otal E xpen ses
Salaries
Am ount paid for
$6,050 02
% of total assets . 2387 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
75

$67,980 00*

Loans on Personal
Security

.

Average rate

b e a r in g

Book Value

$353,313 75

$51,600 00

T otal A m ou nt

.$2,384,632 60

for

Y

e a r , e x c l u s iv e

Rent
$ 1,200 00
.0 4 7 3 of 1 %

of

St a t e T a x e s

Advertising
$ 85 65
0034 o f 1 %

Other Expenses
$ 1 ,5 2 8 36
.0 6 0 3 o f 1 %

Total
$ 8,864 03
.3 4 9 7 of 1 %

R E PO R T OF THE

228

[Pub. Doc

Peoples Savings Bank, Holyoke — Concluded
D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
Num ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

Y ear
$677,177 16
10,945
$676,552 10
7,262
$84,823 90

d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
N o v ., 1907, 2 %
. $42,001 23
M ay, 1908, 2 %
. 42,197 61 $ 84,198 84

C a s h o n D e p o s it i n B a n k s
H a dley Falls N ’l Bank, H olyoke . $ 50,000 00
H olyoke N ’l Bank, H olyoke
.
58,000 00
H om e National Bank, H olyoke .
52,930 67

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“ '
“
T otal number Oct. 31, 1908 .
Average balance “
“

1,505
1,339
6,223
$383 20

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
231
A m ount of same
.
. $342,598 80
N o. of loans on real estate .
340
Average am ount of same
.
$4,599 27
A m ount loaned on real estate
during year
.
.
. $127,400 00
N o. of new real estate loans
m ade during year .
.
25

D ate

of

E x a m i n a t i o n , December 4

M is c e l l a n e o u s
N um ber of corporators, 4 7 ; trustees, 17
Gross income rec’d during year . $111,498 69
State ta x (net) paid “
“
.
3 ,030 79

PEOPLE’S SAVINGS BANK, WORCESTER
President, S a m u e l R . H e y w o o d
Treasurer, C h a r l e s M . B e n t
Clerk of the Corporation, F r e d e r i c k J. B a r n a r d
Board of Investment: S a m u e l R . H e y w o o d , A l e x a n d e r D e W i t t , W
C h a r l e s M. T h a y e r , H a r r y W . G o d d a r d

i l l ia m

W . Jo h n so n ,

Incorporated Mttv 13, 1864. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 1 p .m ., 6 to 8 p .m .
Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable on the second day of February and August

B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
.
.
$1,624,210
Railroad bonds .
.
.
.2,897,278
Street railway bonds
.
.
.
172,492
Bank and trust company stocks . 225,924
Loans to counties, cities or towns . 143,865
“
“ railroad companies
.
44,000
“
on bank and trust co. stocks
2,551
“
“ real estate $5,149,579 65
Less, due on mtge. loans 4,175 00 5,145,404
Loans on personal security .
.1,707,350
Bank building and fixtures .
. 135,000
Real estate by foreclosure, etc.
.
17,849
“
“
in possession
.
.
4,374
Taxes, insurance, etc., paid on
mortgaged properties
.
.
29
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
10,000
Deposits in banks, on interest
. 240,811
Cash on hand
.
.
.
.
16,970


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
25
50
00
00
00
00
65
00
00
56
45

L ia b il it ie s
Deposits .
.
.
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .
.
Suspense

$11,674,911 97
.

595,000 00
22,642 78

$103,088 75
.

7,582 88

95,505 87
51 00

84
00
52
85

$12,388,111 62

$12,388,111 62

BANK COMMISSIONER

No. 8]

229

People’s Savings Bank, W orcester — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
54
100
97
59
25
100
59
200
200
65
2 05
100
155
30
262

Estimated
Market Value

Par Value

Schedule of Securities Owned

$ 1 ,5 93,000
2,8 6 4 ,5 0 0
173,000
143,865

.
.
.
legal
.

00
00
00
00

$1,579,523
2 ,8 0 0 ,5 4 0
171,695
143,865

9 7 ,7 7 5 00

9 9 ,0 0 0 00

$4,7 9 3 ,3 9 8 00

$4,8 8 1 ,8 4 5 75

$5,400
10,000
9,700
5,900
2 ,500
10,000
5,900

$5,400
15,500
13,386
18,526
2,500
21,700
9 ,440
10,000
58,000
9 ,120
22 ,7 5 5
2 1,500
22 ,4 7 5
4,350
51,090

$6,750
15,300
12,730
12,980
3 ,0 2 5
14,141
6 ,965
8 ,1 1 4
3 0,000
9 ,5 8 6
23 ,9 3 5
16,960
19,318
4,200
41,920

00
00
00
00
00
00
00
-

2 0 ,000
6,500
2 0 ,500
10,000
15,500
3,000
2 6,200

00
00
00
00
00
00
00

3-^ per cent.
3f “
“
4
“
“
4i “
“

.

.
.
.
.
.
•

.
.
.

354,750 00
9 0,000 00

-

5f
6
6i
6b
6f
7
7i

“
“
“
“
“
“
“
“
“
“
“
“
“

T otals

“
“
“
“
“
“
“
“
“
“
“
“
“

$60,000 00
-

724,127 00
65,000 00
-

3 ,8 9 2,452 65
.

—

.
.
.
.
.
.
.

Average rate

T otal

16,300 00

.

-

-

.
.
.

-

-

00
00
00
00
00
00
00
00
00
00
00
00
00

00
00
00
00
00
-

44,000 00
-

-

'

-

-

$ 2,775
73,9 6 5
382,850
164,400
15,000
869,0 7 8
543,600
2 5,000
4 ,2 3 1 ,0 0 2
75,000
212,0 0 0
138,500
7 7,500
2 5,000
54,000
3 8,500
9 0,000
2 5,000

00
00
00
00
00
00
00
00
65
00
00
00
00
00
00
00
00
00

$ 5 ,1 4 5 ,4 0 4 65

$ 1 ,7 07,350 00

$ 1 9 0,416 00

$ 7 ,0 43,170 65

4 .8 5 per cent.

5 .2 7 per cent.

4 .2 2 per cent.

4 .9 3 per cent.

E xpen ses

Salaries
A m ount paid for
$17,853 88
% of total assets .1 441 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

130,000
478,600
25,000
294,550
75,000
212,000
138,500
61,200
25,000
54,000
38,500
90 ,0 0 0
2 5,000

$ 2 2 5,924 00

Total Loans

_
$73,965
28,100
14,400
15,000
14,951

—

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

R ate of In terest

Other Loans

_

—

-

4f
4f
4-|
5
5i

E a c h S p e c if ie d

b e a r in g

$ 2,775 00
.
.

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$285,742 00

Loans on Personal
Security

Loans on Real
Estate

Rate

00
25
50
00

99 ,0 0 0 00

$151,100 00

31, 1908,

$ 1 ,5 99,210
2 ,8 6 7 ,2 7 8
172,492
143,865

$ 4 ,8 73,365 00
Bank and Trust Company Stocks
B oylston National Bank, Boston
Commonwealth Trust Co., Boston
Faneuil H all National Bank, Boston .
First National Bank, Boston
Mechanics Trust Company, Boston .
Merchants National Bank, Boston
N ’l Bank of Commerce, Boston
National Bank of the Republic, Boston
National Shawmut Bank, Boston
New England National B ’k, Boston .
Old Boston National Bank, Boston
Second National Bank, Boston
State National Bank, Boston
W ebster & A tlas National B ’k, Boston
W orcester National Bank, W orcester .

T otal A m ou nt of L oan s on O ct.

00
00
00
00

Book Value

f o r

Y e a r ,

Rent
$1,452 24
.0 1 1 7 of 1 %

e x c l u s iv e

o f

Advertising
$ 2,745 0 6
.0221 of 1 %

State

T a x e s

Other Expenses
$ 6,324 62
.0 5 1 0 of 1 %

Total
$ 28,375 80
.2 2 9 0 of 1 %

230

R E PO R T OF THE

[Pub. Doc.

People’s Savings Bank, Worcester — Concluded
D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits
.
.
Num ber of same
.
.
A m ount of withdrawals
.
N um ber of same
.
.
N et decrease in deposits
.

d u r in g Y e a r
$ 1 ,6 60,800 55
.
25,419
$2,2 0 0 ,9 1 8 61
.
26,780
. $94,930 20

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Feb., 1908, 2 %
$222,660 86
A u g ., 1908, 2 %
. 222,527 00 $445,187 86
C a s h o n D e p o s it i n B a n k s
N ’l Shawmut Bank, Boston
Springfield N ’l B ’k, Springfield
Merchants N ’l B ’k, W orcester
W orcester Tr. Co., W orcester

$97,560
2 3,524
37,825
81,901

35
33
57
27

M is c e l l a n e o u s
N um ber of corporators, 1 4 7 ; trustees, 26
Gross income rec’d during year . $561,769 89
State ta x (net) paid “
“
.
30,547 61

D ate

of

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

F ix t u r e s
. $135,000
. 150,000
.
86,000
4,931

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

00
00
00
05

3 ,128
3,723
25 ,2 3 4
$462 66

St a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
1,316
A m ount of same
.
$1,838,721 00
N o. of loans on real estate .
1,769
Average amount of same
.
2 ,908 65
A m ount loaned on real estate
during year
.
.
. $221,200 00
N o. of new real estate loans
made during year .
.
66

E x a m i n a t i o n , July 6, 7 , 8

PLYMOUTH SAVINGS BANK, PLYMOUTH
President, C h a r l e s S. D a v i s
Treasurer, J a m e s D . T h u r b e r
Clerk of the Corporation, J o h n R u s s e l l
Board of Investment: C h a r l e s S. D a v i s , C h a r l e s B . S t o d d a r d , C h a r l e s G. H
I s a a c M. J a c k s o n , F r a n c is J. H e a v e n s

athaw ay,

Incorporated June 11, 1828.

to 1

Open for business every business day, 9
2 t o 3 p .m .

a .m .

p .m .;

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first T uesday of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
on railroad stocks
“ real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

. $171,000 00
. 708,235 00
.
25,000 00
.
99,900 00
.
45,835 00
. 237.867 00
.
35,100 00
4,500 00
. 760,030 00
. 615,875 00
.
25,000 00
8,021 63
.
43,157 11
4,871 98
$2,784,392 72

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

.$2,520,401 37
.

130,000 00
85,261 16

. $50,535 77
.

1,805 58

48,730 19

$2,784,392 72

No. 8]

BANK COMMISSIONER

231

Plymouth Savings Bank — Continued

Public funds
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

Shs.

7
100
228
108
427
100
86
55
270
97
97
80
100
18
278
184
100
171

Estimated
Market Value

Par Value

Schedule op Securities Owned

$135,000
680,000
2 5,000
100,000
52,000
35,100

.
.

legal
.

Bank and Trust Company Stocks
Abington National Bank, Abington .
First W ard National Bank, Boston .
Merchants National Bank, Boston
National Bank of Commerce, Boston .
National Shawmut Bank, Boston
National Union Bank, Boston .
New England National B ’k, Boston .
Old Boston National Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
Brockton National Bank, Brockton .
H om e National Bank, Brockton
Union National Bank, Lowell .
Old Colony National Bank, Plym outh
P lym outh National Bank, Plym outh .
Third National Bank, Springfield
Bristol Co. National Bank, Taunton .

00
00
00
00
00
00

$ 1 4 1,975
705,6 4 5
2 6,750
98 ,0 0 0
46,800
3 5,100

of

L oans

y

u (C

Totals

O c t . 31, 1908,

.
.

$10,300 00

.
.
.

.

416,0 1 4 00

73,950 00

75,000 00
$ 1 ,0 85,070 00

$700
10,000
22,800
10,800
42,700
10,000
8,600
5,500
27,000
9 ,700
3 ,3 9 5
8 ,000
10,000
1,800
27,800
18,400
10,000
17,100

$700
17,500
49,417
17,280
123,830
16,000
12,040
6 ,105
5 8,050
14,065
97
10,400
20 ,0 0 0
3 ,060
3 1,970
2 1,160
2 0,000
18,126

$687
10,000
2 2,800
9 ,180
42,700
10,000
8 ,600
5,000
2 7,000
9 ,700

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$439,800 00

.

127,575 00

.
.

.
.

206,141 00

.
.

.

-

.

-

.

-

-

-

-

.

Average rate

00
00
00
00
00
00
00
00
00
00
00

—

—
-

-

00
00
00
00
00
00
00

$ 2 3 7,867 00

I nterest

Total Loans
$ 12,200
9,900
127,800
75,500
508,789
2 5,000
2 1 7 ,0 7 5
2 5,000
246,741
5 0,000
6 0,000
3 2,500
2 5,000

00
00
00
00
00
00
00
00
00
00
00
00
00

$760,030 00

$615,875 00

$ 39,600 00

$ 1 ,4 1 5 ,5 0 5 00

5 .3 4 per cent.

5 .4 8 per cent.

4 .1 4 per cent.

5 .3 7 per cent.

T otal E xpen ses
Salaries
Am ount paid for
$ 6 ,050 01
% of total assets .2 1 7 2 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$12,200 00
9 ,9 0 0 00
17,500 00

00
00
00
00
00
00
00
00
00
00

7,600
9 ,500
1,800
27,800
18,400
10,000
17,100

ate of

Other Loans

—

$100,000
7 5,500
9 2 ,7 7 5
25,0 0 0
8 9,500
2 5,000
40,6 0 0
50,000
6 0,000
3 2,500
2 5,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

E ac h S p e c if ie d R

b e a r in g

—

—

00
00
00
00
00
00

$ 1 ,1 28,220 00

_
.
.

$131,000
6 73,235
2 5,000
9 9 ,900
4 5,835
35,100

75,000 00

Loans on Personal
Security

Loans on Real
Estate

R ate

34 per cent.
4
“
“
4-| “
“
4f “
«•
5
“
“
5i “
“
5i “
“
5f “
“
6
“
“
61 “
“
61 “
“
6f “
“

on

00
00
00
00
00
00

$ 1 ,1 02,100 00

$244,2 9 5 00

T otal A m ount

Book Value

for

Y

e a r , e x c l u s iv e

Rent
—
-

of

Advertising
-

St a t e T a x e s
Other Expenses
$889 16
.0 3 1 9 of 1 %

Total
$6,939 17
.2 491 of 1 %

232

RE PO R T OF THE

[Pub. Doc.

Plymouth Savings Bank — Concluded
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $266,2 8 6 00
N um ber of same
3,827
A m ount of withdrawals
$385,667 11
N um ber of same
4,461
N et decrease in deposits
$9,882 75

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

D iv i d e n d s d e c l a r e d d u r i n g Y e a r
Jan., 1908, 2 % .
. $48,6 2 6 31
July, 1908, 2 \ %
. 60,872 05 $109,498 36

D e p o s it A cc o u n ts
Num ber opened during year
Num ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

C a s h o n D e p o s it i n B a n k s
N ational Shawm ut Bank, Boston
Old Colony N ’l B ’k, P lym outh
.
P lym outh N ’l Bank, P lym outh .

$ 1 ,2 4 4 80
2 2 ,5 7 4 23
19,338 08

M is c e l l a n e o u s
N um ber of corporators, 3 1 ; trustees, 18
Gross income rec’d during year . $148,063 51
State ta x (net) paid “
“
.
7 ,107 34
D ate

of

and

*

F ix t u r e s
. $25,000
.
4 2,500
.
42 ,5 0 0
.
358

00
00
00
87

533
524
6,390
$394 42

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each '
437
A m ount of same
.
. $442,9 5 5 00
N o. of loans on real estate .
480
Average am ount of same
.
$1,583 39
A m ount loaned on real estate
during year
.
.
. $57,250 00
N o. of new real estate loans
made during year .
.
50

E x a m i n a t i o n , April 9 , 10

PLYMOUTH FIVE CENTS SAVINGS BANK, PLYMOUTH
President, E v e r e t t F. S h e r m a n
Clerk of the Corporation, W
Board of Investment:

Treasurer, W il l ia m W . B r e w s t e r
W . Brew ster

il l ia m

T h o m a s N . E l d r id g e , Ch a r l e s P . H a t c h , W
C h a r l e s A . S t r o n g , W il l ia m W . B r e w s t e r

Incorporated April 6, 1855.

alter

Open for business every business day, 9
also Saturdays, 7 to 8 p .m .

L . B oyden

a .m .

to 3

p .m .,

Deposits commence to draw interest the second T uesday of January, April, July and
October. Dividends are payable the second Tuesday of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
.
.
.
$271,600
Railroad bonds .
.
.
.
427,005
Street railway bonds .
75.000
Bank and trust company stocks
32,900
Loans to counties, cities or towns .
92,160
“
“ railroad companies
25.000
“
on railroad bonds
1,200
“
“ railroad stocks
2,500
bank and trust co. stocks
3,275
“
“ depositors’ books .
40
“
“ real estate $1,023,320 00
Less, due on mtge. loans 1,200 00 1, 022,120
Loans on personal security .
155,305
Bank building and fixtures .
12,523
Real estate by foreclosure, etc.
2,053
Taxes, insurance, etc., paid on
mortgaged properties
76
Suspense
.
.
.
.
.
206
Deposits in banks, on interest
26,589
Cash on hand
.
.
.
.
5,278
Checks and cash items
319


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

L ia b il it ie s
.

00
00
00
00
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

00
00
00

Interest, rents, etc.
Less current
Expenses .
.

$2,017,842 83
101,500 00
11,512 18

00

. $26,601 85
.

2,304 25

24,297 60

00
00
52
21
65
84
05
68
66

$2,155,152 61

$2,155,152 61

233

BANK COMMISSIONER

No. 8]

Plymouth Five Cents Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

Estimated
Market Value

Par Value

Schedule oe Securities Owned

8235,000
4 15,200
7 5,000
92,1 6 0

.
.
.
legal
.

$23 9 ,2 0 4
399,4 6 2
7 8,570
9 2 ,1 6 0

00
00
00
00

L oans

on

8 4,400 00

8 1,437 50

$902,360 00

$ 8 9 0,765 00

$1,600
2 ,100
1,000
2 ,500
800

$5 ,0 2 4
3 ,6 7 5
2 ,170
3 ,000
1,280
750
13,920
2 ,1 7 5
2 ,1 7 5
5,200
8,740
6 ,175
2 ,000

$1,600
2,100
1,000
2 ,500
800

00
00
00
00
00
-

4,800
1,500
1,500
4 ,000
7,600
4 ,500
1,000

O c t . 31, 1908,

00
00
00
00
00
00
00

b e a r in g

E a c h S p e c if ie d R

3 4 per cent.
3f “
“

4

“

“

4i

“

“

1*

::
“
“

“
“
“

“
<<

“
<<

5i
54
6

T otals

:

$38,500 00
889,9 9 5 00

9 3 ,6 2 5 00

.

Average rate

$25,000
44,9 0 5
10,000
3 5.000
25,4 0 0
15.000

$155,3 0 5 00

5 .0 7 per cent.

5 .4 0 per cent.

Salaries
A m ount paid for
$4,867 34
% of total assets .2 2 5 8 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$295 20
.0 1 3 7 of 1 %

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r
. $295,597 66
A m ount of deposits .
5,937
N um ber of same
. $339,260 57
Am ount of withdrawals
4,402
N um ber of same
. $32,268 26
N et increase in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00

$1,0 2 2 ,1 2 0 00

T otal E x pen ses

00
00
00
00
00
00
00
00
00
00
00
00
00

-

ate of

I nterest

Other Loans

Total Loans

$ 2 ,000
10,000
3 2 ,160
16,000
32 ,7 2 5
3 0,490

$ 2,000
10,000
32 ,1 6 0
16,000
9 6 ,2 2 5
965,3 9 0
10,000
3 5 ,800
1 19,025
15,000

00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00

$1,3 0 1 ,6 0 0 00

$ 1 2 4,175 00

5 .0 4 per cent.

4 .3 9 per cent.

of

00
00
00
00
00
00
00

$32,900 00

800 00

Advertising

00
00
00
00
00

4,800
1,500
1,500
4 ,000
7 ,600
4 ,500
1,000

$56,2 8 4 00

Loans on Personal
Security

Loans on Real
Estate

R ate

00
50
00
00

$ 8 9 3,796 12

$32,900 00

op

$236,600
4 05,567
7 5 ,000
9 2 ,1 6 0

12
00
00
00

8 5,000 00

Shs.
Bank and Trust Com pany Stocks
16 First National Bank, Boston
21 First W a rd National Bank, Boston
10 Merchants National Bank, Boston
2 5 M etropolitan National Bank, Boston .
8 National Bank of Commerce, Boston .
15 National B ank of the Republic, Boston
48 National Shawmut Bank, Boston
15 State National Bank, Boston
15 W ebster & Atlas National Bank, Boston
40 Brockton National Bank, Brockton
7 6 Old Colony National Bank, Plym outh .
45 P lym outh National Bank, Plym outh .
10 Third National Bank, Springfield

T otal A m ou nt

Book Value

St a t e T a x e s
Other Expenses
$1,321 05
.0 6 1 2 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$6,483 59
.3 0 0 8 of 1 %

F ix t u r e s
. $12,523
.
14,000
.
16,300
293

52
00
00
31

234

REPORT OF THE

[Pub. Doc.

Plymouth Five Cents Savings Bank — Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $ 3 7 ,5 9 8 41
July, 1908, 2 % . .
. 3 8 ,3 3 2 76 $75,931
C a s h o n D e p o s it i n B a n k s
N ’l Shawmut Bank, Boston
.
Old Colony N ’l Bank, Plym outh .
P lym outh N ’l Bank, Plym outh .

17

$ 8 ,1 95 45
8 ,5 1 2 46
9,881 14

M is c e l l a n e o u s
N um ber of corporators, 3 0 ; trustees, 21
Gross income rec’d during year . $ 10 3 ,9 9 7 01
State ta x (net) paid “
4 ,5 8 5 63

“

D ate

of

.

E x a m i n a t i o n , M ay 22

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

717
640
6,745
$299 16

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
596
A m ount of same
.
. :$ 623,090 00
N o. of loans on real estate .
635
Average amount of same
$1,609 64
Am ount loaned on real estate
during year
$62,945 00
N o. of new real estate loans
made during year
47

PROVIDENT INSTITUTION FOR SAVINGS IN THE TOWNS
OF SALISBURY AND AMESBURY, AMESBURY
President, S e t h C l a r k
Treasurer, A l f r e d C. W
Clerk of the Corporation, C h a r l e s L . A l l e n
Board of Investment: A l f r e d C. W

ebster,

D a n ie l W

ebster,

ebster

G eo rg e F. B ag ley

Incorporated Feb. 28, 1828. Open for business every business day, except Saturdays,
9 a .m . to 2 p .m .; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the third W ed n esd ay of January, April, July and
October. Dividends are payable the fourth W ednesd ay of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
.
.
.
.
$865,000 00
Railroad bonds .
.
.
.
604.000 00
Street railway bonds
210.000 00
Boston Terminal Company bonds . 100,000 00
Telephone company bonds
25,000 00
Bank and trust company stocks
57,675 00
Loans to railroad companies
5.000 00
on real estate
615,000 00
“ personal security
556,580 00
Bank building and fixtures .
5.000 00
Real estate by foreclosure, etc.
17,771 05
Taxes, insurance, etc., paid on
mortgaged properties
286 61
Real estate under agreement
5,500 00
Deposits in banks, on interest
56,157 25
Cash on hand
.
.
.
.
7,692 91

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s

Interest, rents, etc.
Less current
Expenses .
.

$2,844,822 51
142,126 34
142,620 20

.

$1,604 17

.

510 40

$3,130,662 82

Schedule of Securities Owned

Public funds
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

.
.
.

1,093 77

$3,130,662 82

Par Value

Estimated
Market Value

Book Value

$866,000 00
604.000 00
210.0 0 0 00

$869,230 00
592,462 50
208,3 0 0 00

$ 8 6 5,000 00
6 04.000 00
210.0 0 0 00

No. 8]

BANK COMMISSIONER

235

Provident Institution for Savings, etc., Amesbury — Continued

Boston Term inal Com pany bonds
Telephone com pany bonds
Bonds and notes which are not now legal
investm ents
.
.
.
.
.

Shs.

119
35
26
35
30
80
120
25
15
21
27
51
24
32
45
7

Estimated
Market Value

Par Value

Schedule of Securities Owned

$100,000 00
3 0,000 00

$98,000 00
27,112 50

$100,000 00
2 5 ,000 00

5,000 00

5,000 00

5,000 00

$ 1 ,8 15,000 00

$ 1 ,8 00,105 00

$1,8 0 9 ,0 0 0 00

$11,900
3,500
2,600
3,500
3,000

$14,875
3,500
3,588
7,595
4,800
4,000
34,800
4,000
2,100
2,331
5,805
7,395
24
4,640
4,995
1,190

$11,900
3 ,500
2 ,600
3,500
3 ,000

Bank and Trust Com pany Stocks
Powow R iver N ational B ’k, Am esbury
Boylston National Bank, Boston
Faneuil H all National Bank, Boston .
Merchants National Bank, Boston
National Bank of Commerce, Boston .
National Bank of the Republic, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
New England National Bank, Boston .
Old Boston National Bank, Boston .
Second National Bank, Boston .
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston .
B a y State N ’ l Bank, Lawrence .
Union National Bank, Lowell .

00
00
00
00
00
-

12,000
2 ,500
1,500
2 ,100
2,700
5,100
840
3,200
3 ,375
700

00
00
00
00
00
00
00
00
00
00

of

L oans

5

5i
5f
5*
6
7

“
“
“
“
“
“

.
“
“
“
“
“

O c t . 31, 1908,

Loans on Real
Estate

R ate

4^ per cent.
4f “
“

on

$ 99,000
7 5 .000
255,0 0 0
2 5 .000
30 .0 0 0
2 4 .000
48,580

Totals
Average rate

379,700 00
.
.
.
.

2 ,000 00
207,100 00
1,200 00

-

12,000
2 ,500
1,500
2,100
2,700
5,100

00
00
00
00
00
00
-

3,200 00
3 ,3 7 5 00
700 00
$ 57,675 00

ate of

Other Loans

00
00
00
00
00
00
00

00
00
00
00
00

Interest

Total Loans

$124,000
75.000
639,700
2 5.000
3 0.000
2 6.000
2 55,680
1,200

$5,000 00

00
00
00
00
00
00
00
00

$615,000 00

$556,580 00

$ 5,000 00

$1,1 7 6 ,5 8 0 00

5 .3 2 per cent.

5 .0 1 per cent.

5 .0 0 per cent.

5 .1 7 per cent.

T otal E x pen ses
Salaries
A m ount paid for
$5,730 00
% of total assets .1 8 3 0 of 1 %

for

Y

e a r , EXCLUSIVE OF STATE T A X E S

Rent
-

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
.
. $244,658 00
N um ber of same
3 ,176
A m ount of withdrawals
$365,858 39
N um ber of same
4,896
$11,872 62
N et decrease in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

E a c h S p e c if ie d R

Loans on Personal
Security

$25,000 00
•
.
.
•
.
.
.

b e a r in g

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$105,638 00

$58,5 1 5 00

T otal A mount

Book Value

Advertising

Other Expenses
$731 02
.0 2 3 3 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .

an d

.
.
.

Total
$6,461 02
.2 0 6 3 of 1 %

F ix t u r e s
.
$5,000 00
.
7,000 00
.
9 ,0 0 0 00

236

RE PO R T OF THE

[Pub. Doc.

Provident Institution for Savings, etc., Amesbury — Concluded
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $ 54,663 01
O ct., 1908, 2 %
. 54 ,6 6 4 76 $109,327
C a s h o n D e p o s it i n B a n k s
Powow R iver N ’l B ’k, A m esbury .
Boston S. D . & T . Co., Boston
.

D e p o s it A cc o u n ts
Num ber opened during year
Num ber closed
“
T otal number O ct. 31, 1908 .
Average balance “
“

77

$30,000 00
2 6,157 25

St a t is t ic s o f L o an s
N o. not exceeding $3,000 each
318
A m ount of same
$290,400 00
N o. of loans on real estate .
329
Average amount of same
1,869 30
A m ount loaned on real estate
during year
$32,100 00
N o. of new real estate loans
made during year
27

M is c e l l a n e o u s
Num ber of corporators, 3 7 ; trustees, 12
Gross income rec’d during year . $140,477 36
State ta x (net) paid “
“
.
9 ,990 57
D ate

of

386
472
7 ,072
$402 26

E x a m i n a t i o n , July 21

THE PROVIDENT INSTITUTION FOR SAVINGS IN THE
TOW N OF BOSTON, BOSTON
Vice-President, L o u is C u r t i s
Clerk of the Corporation, S. H

Treasurer, H e n r y P a r k m a n
W olcott

u n t in g t o n

Board of Investment: L o u is C u r t i s , G o r d o n A b b o t t , C h a r l e s E . C o t t i n g ,
W a l t e r H u n n e w e l l , W il l ia m F a r n s w o r t h , P h il ip St o c k t o n , P h il ip D e x t e r ,
Ch a r l e s F . A d a m s , 2 d
Incorporated December 13, 1816.

Open for business every business day, 9

a .m

. to 2 p . m .

Deposits commence to draw interest the first W edn esday of January, April, July and
October. Dividends are payable after the third W ed n esd ay of January and July

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908

Public funds
.
.
.
$8,078,800 00
Railroad bonds .
.
.
.
7,207,400 00
Street railway bonds .
.
. 350,000 00
Boston Terminal Company bonds .1,000,000 00
Telephone company bonds .
. 360,000 00
Bank and trust company stocks . 424,700 00
Loans tocounties, cities or towns . 663,220 00
“
“ railroad companies
. 700,000 00
“ on railroad stocks
.
.
18,800 00
“
“ bank and trust co. stocks
700 00
“
“ real estate
.
.
23,708,345 00
“
“ personal security .
.5,357,475 00
Bank building and fixtures
.
. 570,000 00
Real estate by foreclosure, etc.
.
50,823 03
Taxes, insurance, etc., paid on
mortgaged properties
.
.
77 17
Deposits in banks, on interest
. 842,102 76
“
“
“
not on interest .
7,412 54
Cash on hand
.
.
.
.
73,743 76
Checks and cash items
.
.
664 50

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

. 2,380,000 00
.
457,419 05

Interest, rents, etc.
Less current
«
Expenses .

$488,331 32
.

23,733 95

$49,414,263 76

Public funds
.
Railroad bonds
.
Street railway bonds


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.
.
.

.
.
.

.

.
.
.

464,597 37

$49,414,263 76

Par Value

Schedule of Securities Owned

$46,112,247 34

$ 7 ,4 98,800 00
6,948 ,0 0 0 00
350,0 0 0 00

Estimated
Market Value
$ 7 ,5 09,950 00
6 ,8 4 8 ,6 3 5 00
348,7 5 0 00

Book Value

$7,4 9 8 ,8 0 0 00
6 ,920,800 00
350,0 0 0 00

No. 8]

BANK COMMISSIONER

237

The Provident Institution for Savings, etc., Boston — Continued
Schedule

op

S ecurities O wned

Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.

Par Value

Estimated
Market Value

$ 1,000,000 00
400.0 0 0 00
663,220 00

$980,000 00
361,5 0 0 00
654,0 5 5 60

Book Value

$ 1,000,000 00
360.0 0 0 00
663,220 00

200.000 00

200,000 00

200.000 00

1 ,366,600 00

1 ,3 8 3 ,0 4 4 00

1 ,366,600 00

$ 1 8 ,4 2 6 ,6 2 0 00 $1 8 ,2 8 5 ,9 3 4 60 $ 1 8 ,359,420 00
Shs.
1,000
75
200
312
350
350
848
500
500
612

Bank and Trust Company Stocks
Merchants National Bank, Boston
N ’ l Bank of Commerce, Boston
National Shawm ut Bank, Boston
National Union Bank, Boston
New England National B ’k, Boston
Old Boston National B ’k, Boston
Second National Bank, Boston
State National Bank, Boston .
Trem ont National Bank, Boston
W eb ster & A tlas N ’ l Bank, Boston

$ 100,000 00
3 1.200
3 5.000
3 5.000
8 4,800
50.000
17,500
61.200

12,000 00

00
00
00
00
00
00
00

of

H

5Ì
5Ì

5f
6
6i
6^
6f

Loans on Personal
Security

“

•

“

.

“
“
“
“
“

»
“
“
“
«

—

-

“

“

“

“

“

“

“
“

“
“
“
“

“
“
“
“

-

.
.
.

-

783,000 00

$100,000
150,000
2 ,6 5 2 ,8 7 5
17,600
270,000
451,000
606,000
100,000
8 5,000
50,000
425,000
450,000

-

2 ,2 9 1 ,2 5 0
2 3 ,000
685,470
4 7 ,000
3 ,000

00
00
00
00
00
-

800 00
-

-

.

Average rate

00
00
00
00
00
00
00
00
00
00
00
00

I nterest

Total Loans

$1,5 0 8 ,0 0 0
1 ,440,000
119,410
89,800
4 5,000
9,1 0 1 ,0 1 0
3,8 8 4 ,5 0 0
4 ,2 7 5 ,3 2 5
7 5,000
883,000
150,000
4 ,9 6 1 ,1 2 5
4 0,600
1,455,870
499,800
609,000
100,000
136.100
50,000
425,000
600,000

00
00
00
00

-

17,000 00
500,400 00
1,800 00
-

50,300 00
-

150,000 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$23,70 8 ,3 4 5 00

$5,3 5 7 ,4 7 5 00

$1,3 8 2 ,7 2 0 00

$30,4 4 8 ,5 4 0 00

3 .7 7 per cent.

5 .1 1 per cent.

4 .5 8 per cent.

4 .0 5 per cent.

T otal E xpen ses
Salaries
A m ount paid for
$62,033 23
% of total assets . 1255 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ate of

_
8 0,000 00
7 5,000 00
_

-

00
00
00
00
00

61.200 00

_
$119,410
89,800
45,000
254,010

—

8 ,847,000 00
3,8 8 4 ,5 0 0 00
4,1 9 5 ,3 2 5 00
-

.
.

$424,700 00

3 1.200
3 5.000
3 5.000
84,800
5 0.000

Other Loans

-

-

“

$ 7 6 8 ,7 3 0 00

-

-

.

20,000 00

E a c h S p e c if ie d R

b e a r in g

$ 1 ,5 08,000 00
1 ,440,000 00

“

Totals

O c t . 3 1 , 1908,

.

“

“

3f
4
4 .0 5
4|
4f
4*
4f
5

on

Loans on Real
Estate

R ate

3ijr
per cent.
3|
“
“
3f
“
“
3Ä
;;
“
3 .6 0 “
“

L oans

7 ,500 00

00
00
00
00
00
00
00
00

5 8.000
4 9,920
49 .0 0 0
3 8,850
182,220
72,500
500
8 8,740

$442,200 00

T otal A m ount

$ 100,000 00

$217,000 00

7,500 00

20,000 00

for

Y

e a r , e x c l u s iv e

Rent
-

of

Advertising
-

St a t e T a x e s
Other Expenses
$ 12,440 83
.0 251 of 1 %

Total
$74,4 7 4 06
.1 5 0 6 of 1 %

R E PO R T OF THE

238

[Pub. Doc.

The Provident Institution for Savings, etc., Boston — Concluded
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits
.
.
$ 6 ,4 42,227 37
N um ber of same
.
.
.
9 4 ,2 4 4
A m ount of withdrawals
.
$ 7 ,8 76,397 60
N um ber of same
.
.
.
9 2 ,7 3 4
N et increase in deposits
.
. $ 3 0 1,505 79

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income

and

.
.
.

F ix t u r e s
. $570,000 00
1,266 ,0 0 0 00
1 ,266,000 00
7 ,7 7 4 40

D e p o s it A c c o u n t s
Num ber opened during year
10,0 1 4
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Num ber closed
“
“
10,163
Jan., 1908, 2 % .
$867,973 16
103,651
July, 1908, 2 % .
. 867,702 86 $1,7 3 5 ,6 7 6 02 T otal number O ct. 31, 1908 .
Average balance “
“
.
$444 88
C a s h o n D e p o s it in B a n k s
S t a t is t ic s o f L o a n s
City Trust Co., Boston
$72,389 40
N o. not exceeding $3,000 each
71
Merchants National B ’k, Boston . 117,179 06
.
. $ 1 4 6,895 00
97 ,9 0 4 26 A m ount of same
N ational Shawmut B ’k, Boston .
N
o.
of
loans
on
real
estate
.
450
N ational Union Bank, Boston
101,207 54
. $52,6 8 5 21
N ew England N ’l Bank, Boston . 103,400 05 Average am ount of same
Old Boston National B ’k, Boston 101,153 22 Am ount loaned on real estate
during year
.
.
. $ 5 9 9,500 00
134,347 53
O ld Colony Trust Co., Boston
12,190 48 N o. of new real estate loans
Second National Bank, Boston .
made during year .
.
13
7,412 54
State National Bank, Boston
W ebster & A tla s N ’l B ’k, Boston . 102,331 22
D a t e o f E x a m i n a t i o n , June 6, 7, 8
M is c e l l a n e o u s
N um ber of corporators, 1 0 2 ; trustees, 35
Gross income rec’d during year $ 1 ,9 8 9 ,9 9 6 70
State tax (net) paid “
“
. 101,578 69

QUINCY SAVINGS BANK, QUINCY
President, G e o r g e W . M o r t o n
Treasurer, C l a r e n c e B ü r g in
Clerk of the Corporation, C l a r e n c e B ü r g in
Board of Investment: G e o r g e W . M o r t o n , J o h n Q . A . F i e l d , R
John F. W elch

upert

F . Cl a f l in ,

Incorporated March 18, 1845. Open for business every business day, except Saturdays,
8.3 0 a .m . to 3 p .m .; Saturdays, 8.30 a .m . to 12 m .
Deposits commence to draw interest the first Tuesday of January, April, July and October
Dividends are payable the day following the first T uesday of April and October

B a l a n c e S h e e t , O c t o b e r 3 1 , 1908
A ssets
Public funds
.
.
.
.
Railroad bonds .
.
.
.
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans on bank and trust co. stocks
“
“ real estate $1,792,734 49
Less, due on mtge. loans 3,651 40
Loans on personal security .
Bank building and fixtures .
Taxes, insurance, etc., paid on
mortgaged properties
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Deposits in banks, on interest
Cash on hand
.
.
.
.
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$539,490
970,946
74,000
50,896
48,780
18,400

00
25

00
25
38

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

00

1,789,083 09
529,387 50
83,568 14

Interest, rents, etc.
Less current
Expenses .

.$3,899,153 95
.

171,700 00
78,027 18

. $17,340 68
.

1,018 63

16,322 05

493 21
19,199
39,043
1,354
561

99
02
35
00

$4,165,203 18

$4,165,203 18

No. 8]

BANK COMMISSIONER

239

Quincy Savings Bank — Continued

Public funds
.
.
Railroad bonds
.
.
Street railway bonds
.
Telephone com pany bonds
Bonds and notes which are
investments
.
.

Shs.
200
37
100
100

.
.

.
.
.

Estimated
Market Value

Par Value

Schedule op Securities Owned

.
.
.

.

$539,490
941,000
75,000
58,000

not now legal
.
.
.

00
00
00
00

$536,872
8 8 1 ,8 0 5
7 4,625
52,417

A m ount

of

L oans

4
4i
4f
5

5£
5i
5£

6
6*
6Î

per cent.
“
“
“
“
“
“
“
“
“
“

Totals

“
“
«
“
“
"
“
“
“
“

.
■

.

.
.
•
.
.
.
■
.

.

.

Average rate

.
.
.

$4,800
4 0 .000
189,150
10.000
1,278,747

4 8 ,000 00

4 2,875 00
$ 1 ,6 35,332 50

$20,000
1,295
10,000
10,000

$31,000
37
15,000
12,500

00
00
00
00

b e a r in g

$76,750
145,000
64.000
2 5.000
67,500
2 5.000
51,137
50.000
2 5.000

5 2,955 00
2 13,430 71

.

$30,000 00

$58,537 00

$48,780 38

_

7 ,7 9 5 38
10,985 00

ate of

Other Loans

00
00
00
00
00
00
50
00
00

I nterest

Total Loans

$4,800
4 0.000
265,900
155,000
1 ,3 4 2,747
25.0 0 0
138,855
2 5.000
264,5 6 8
5 0.000
2 5.000

$18,400 00

00
00
00
00
38
00
00
00
21
00
00

$ 1 ,7 89,083 09

$529,387 50

$18,400 00

$2,3 3 6 ,8 7 0 59

5 .0 6 per cent.

5 .2 8 per cent.

5 .5 0 per cent.

5 .1 1 per cent.

T otal E xpen ses
Salaries
Am ount paid for
$7,580 96
% of total assets .1 8 2 0 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$900 00
.0 2 1 6 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
. $723,800 36
N um ber of same
12,754
A m ount of withdrawals
. $906,803 00
N um ber of same
10,506
N et decrease in deposits
. $38,379 77
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $72,216 95
-Oct., 1 9 0 8 ,2 %
. 7 2,405 92 $144,622 87


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00

E a c h S p e c if ie d R

Loans on Personal
Security

00
00
00
00
38

00
25
00
25

$ 1 ,5 93,720 00

O c t . 31, 1908,

Loans on Real
Estate

R ate

4*

on

$539,490
928,071
74,000
5 0,896

50,000 00

Bank and Trust Company Stocks
Commonwealth Trust Co., Boston
Trem ont National Bank, Boston
National Granite Bank, Quincy
N ’l M t. W ollaston Bank, Quincy

otal

50
00
00
50

$1,663,490 00

$41,295 00

T

Book Value

of

St a t e T a x e s

Advertising
$92 00
.0 0 2 2 of 1 %

Other Expenses
$1,363 18
.0 3 2 7 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
N et income

and

Total
$9 ,9 3 6 14
.2 3 8 5 of 1 %

F ix t u r e s
$83,568
83 ,5 6 8
6 8,500
2,099

D e p o s it A cc o u n ts
N um ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“

14
14
00
44

1,448
1,366
12,745
$305 93

240

RE PO R T OF THE

[Pub. D oc.

Quincy Savings Bank — Concluded
C a s h o n D e p o s it i n B a n k s
N ational Shawm ut Bank, Boston
N ’l Granite Bank, Q uincy .
.
N ’l M t. W ollaston Bank, Quincy .

St a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
623
A m ount of same
.
. $974,913 49
N o. of loans on real estate .
609
Average am ount of same
.
$ 2,937 73
A m ount loaned on real estate
during year
.
.
. $235,490 13
N o. of new real estate loans
made during year .
.
75

$12,443 42
13,611 48
12,988 12

M is c e l l a n e o u s
N um ber of corporators, 3 9 ; trustees, 11
Gross income rec’d during year . $188,639 28
State ta x (net) paid “
“
.
9 ,7 8 4 41
D ate

of

E x a m i n a t i o n , April 23, 24

RANDOLPH SAVINGS BANK, RANDOLPH
President, A sa P . F r e n c h
Clerk of the Corporation, H
Board of Investment:

Treasurer, H e r b e r t W . P r a t t
W . P ratt

erbert

Ch a r l e s H . H o w a r d , D a n ie l B. W h it e , R
R oyal T. M an n , H er b e r t W . P ratt

A. T hayer,

ufus

Incorporated April 14, 1851.
Open for business every business day, except Saturdays,
9 a .m . to 1 p .m ., 2 to 3 p .m . ; Saturdays, 9 a .m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
Railroad bonds .
.
.
.
Street railway bonds
Boston Terminal Company bonds .
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns .
“ railroad companies
on bank and trust co stocks
“ real estate
“
“ personal security .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
,

$96,000
572,827
50.000
25.000
22,500
40,100
17,700
145,000
10.000
281,090
512,821
6,957
66,184
4,889

00
50
00
00
00
00
00
00
00
00
00
42
60
34

Deposits .
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.$1,734,089 28
86,457 91
21,643 23

Interest, rents, etc.
Less current
Expenses .

$9,250 91
371 47

$1,851,069 86

Schedule op Securities Owned

Public funds
Railroad bonds
Street railway bonds
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

8,879 44

$1,851,069 86

Par Value

$83,000
554,000
50,000
25,000
25,000
17,700
120,000

00
00
00
00
00
00
00

Estimated
Market Value

Book Value

$83,411
534,145
51,625
24,500
22,593
17,700
120,000

$83,000
547,827
50,000
25,000
22,500
17,700
120,000

25
00
00
00
75
00
00

00
50
00
00
00
00
00

63,000 00

61,940 00

63,000 00

$937,700 00

$915,915 00

$929,027 50

241

BANK COMMISSIONER

No. 8]

Randolph Savings Bank — Concluded
Estimated
Market Value

Par Value

Schedule op Securities Owned

Shs.
Bank and Trust Company Stocks
75 Atlantic National Bank, Boston
50 National Bank of Commerce, Boston .
25 National Union Bank, Boston
50 New England National Bank, Boston .
67 State National Bank, Boston
8 W ebster & A tlas National Bank, Boston
50 H om e National Bank, Brockton
35 National City Bank, Lynn
16 Blue H ill National Bank, Milton
2 5 Taunton National Bank, Taunton
6^ Union National Bank, W eym o u th

$7,500
5.000
2.500
5.000
6,700
800
5.000
3.500
1,600
2.500
60

00
00
00
00
00
00
00
00
00
00
00

$10,500
8,000
4.000
7.000
9 ,7 1 5
1,160
10,000
5,250
2 .000
2 ,550
33

$40,160 00

T otal A m ount

of

L oans

Totals

O c t . 31, 1908,

Loans on Real
Estate

Rate

3 § per cent.
4
“
“
4* “
“
5
“
“
5Ì “
“
Si “
“
5f “
“
6
“
“
6* “
“
7
“
“

on

b e a r in g

Book Value

00
00
00
00
00
00
00
00
00
00
00

$7,500
5.000
2 .500
5.000
6,700
800
5.000
3 .500
1,600
2 .5 0 0

$40,100 00

$60,208 00

E a c h S p e c if ie d R

Loans on Personal
Security

ate of

Other Loans

$3,000 00
2 9,700 00
186,065 00

.
.
.

4,000 00
•
.
.
.

.

Average rate

58,325 00
.
.

$92,500
76,450
2 5.000
109,921
75.000
60,700
4 8,250
2 5 .000

00
00
00
00
00
00
00
00

Interest

Total Loans

$15,000
3,000
122,200
3 1 5 ,2 1 5
2 5 .000
123,921
75.000
2 1 4 ,0 2 5
4 8 ,250
2 5 .000

$15,000 00
.
.
.

00
00
00
00
00
00
00
00
00
00

52,700 00
10,000 00
9 5,000 00

00
00
00
00
00
00
00
00
00
00

$281,090 00

$512,821 00

$172,700 00

$966,611 00

5 .1 5 per cent.

5 .4 9 per cent.

5 .4 3 per cent.

5 .3 8 per cent.

T otal E xpen ses

Salaries
Am ount paid for
8 2,528 00
% of total assets .1 3 6 5 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$300 00
.0 1 6 2 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $179,503 24
N um ber of same
1,753
$254,742 21
A m ount of withdrawals
N um ber of same
2 ,5 2 4
$ 8 ,060 10
N et decrease in deposits

of

Advertising

St a t e T a x e s
Other Expenses
$ 1,616 28
.0 873 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

Total
$ 4,444 28
.2 4 0 0 of 1 %

287
302
3,699
$468 79

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
101
A m ount of same
.
. $ 9 8 ,3 9 4 00
N o. of loans on real estate .
124
Average am ount of same
.
$2 ,2 6 6 85
C a s h o n D e p o s it i n B a n k s
A m ount loaned on real estate
during year
.
.
. $36,600 00
State National Bank, Boston
. $ 56,807 7 9 *
H om e National Bank, Brockton .
9 ,3 7 6 81
No. of new real estate loans
made during year .
.
15
M is c e l l a n e o u s
N um ber of corporators, 3 2 ; trustees, 12
D a t e o f E x a m i n a t i o n , September 17
Gross income rec’d during year . $83,693 31
State ta x (net) paid, “
“
.
6 ,8 6 5 54
D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
. $33,590 22
O ct., 1908, 2 %
. 33 ,5 8 8 65 $ 67,178 87

* This amount, in excess of the legal limit, has since been reduced.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

242

REPO RT OF THE

[Pub. Doc.

ROCKLAND SAVINGS BANK, ROCKLAND
President, J. A . T o r r e y
Treasurer, H . W . B u r r e l l
Clerk of the Corporation, H . W . B u r r e l l
Board of Investment:

J. A . T o r r e y , A m o s A . P h e l p s , A . C u l v e r , H . E . F u l l e r
E. P. T orrey

Incorporated March 30, 1868. Open for business every business day, except Saturdays
9 a .m . to 12 m ., 1 to 4 p .m .; Saturdays, 9 a .m . to 12 m .; also Fridays, 7 to 8 p .m .
’
Deposits commence to draw interest the first Tuesday of January, April, July and October
Dividends are payable the first W ednesday after the first Tuesday of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to railroad companies
on real estate
“ personal security
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
Checks and cash items

. $62,500 00
. 362,673 50
.
25,000 00
.
17,650 00
5,270 00
.
10,000 00
. 840,770 00
. 189,362 74
.
64,250 00
4,648 26
.
46,404 05
1,400 78
1,183 52

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

74,520 39
19,673 09

Interest, rents, etc.

29,920 35

81,631,112 85

Schedule of Securities Owned

$1,631,112 85

Par Value

Public funds
.
.
.
.
.
Railroad bonds
Street railway bonds
Telephone com pany bonds
Bonds and notes which are not now legal
investments
.
.
.
.
.

$56,500
365,000
25,000
20,000

Shs.
Bank and Trust Company Stocks
12 A bington National Bank, Abington
15 State National Bank, Boston
63 First National Bank, Rockland .
2 5 Rockland Trust Co., Rockland .
7 Union National Bank, W e ym o u th

00
00
00
00

of

L oans

T otals

.
.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

$260,983 00
2 8,100 00
551,687 00

Book Value

$56,666
350,757
2 4,925
18,075

$56,500
362,673
2 5,000
17,650

87
50
00
00

00
50
00
00

16,000 00

16,175 00

16,000 00

$466,599 37

$477,823 50

$1,200 00
1,500 00
2,500 00
70 00

O c t . 3 1 ,1 9 0 8 ,

Loans on Real
Estate

R ate

4^ per cent.
5
“
“
5i “
“
6
“
“

on

Estimated
Market Value

$482,500 00

$5,270 00

T otal A m ount

.81,506,999 02

b e a r in g

00
00
00
00
50

$1,200 00
1,500 00

$6,728 50

$5,270 00

E a c h S p e c if ie d R

Loans on Personal
Security
$25,000
3 0,200
45,482
88,680

$1,200
2,175
315
3,000
38

00
00
74
00

Other Loans

$10,000 00

2,500 00
70 00

ate of

Interest

Total Loans

$ 25,000
301,183
73,582
640,367

00
00
74
00

$840,770 00

$189,362 74

$10,000 00

$1,0 4 0 ,1 3 2 74

5 .6 7 per cent.

5 .5 2 per cent.

5 .0 0 per cent.

5 .6 3 per cent.

BANK COMMISSIONER

No. 8]

243

Rockland Savings Bank — Concluded
T otal, E x p e n s e s
Salaries
Am ount paid for
$ 3,295 36
% of total assets .2 0 2 0 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$400 00
.0 2 4 5 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
. $2 6 0 ,6 0 4 70
N um ber of same
4,356
$318,0 1 4 61
Am ount of withdrawals
4,492
Num ber of same
$604 76
Net decrease in deposits

C a s h o n D e p o s it in B a n k s
Boston S. D. & Tr. Co., Boston . $20,010 16
Rockland Trust Co., Rockland
.
26,393 89
M is c e l l a n e o u s
Num ber of corporators, 5 0 ; trustees, 15
Gross income rec’d during year . $79,015 27
State ta x (net) paid “
“
.
3,229 90
of

E x a m i n a t i o n , January 27

St a t e T a x e s
Other Expenses
$ 1 ,068 90
.0 6 5 5 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
Net income

and

Total
$4,779 26
.2 9 2 9 of 1 %

F ix t u r e s
$64,250
6 4,250
60,330
299

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

D iv i d e n d s d e c l a r e d d u r in g Y e a r
Jan., 1908, 2 % .
. $28,283 26
July, 1908, 2 % .
. 28,521 89 $ 56,805 15

D ate

of

Advertising
$15 00
.0 0 0 9 of 1 %

00
00
00
94

572
601
4,769
$315 99

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
614
A m ount of same
.
. $ 5 3 6,274 00
N o. of loans on real estate .
620
Average amount of same
.
$1 ,3 5 6 08
A m ount loaned on real estate
during year
.
.
. $1 4 1 ,1 8 5 00
N o. of new real estate loans
made during year .
.
57

SALEM SAVINGS BANK, SALEM
President, C h a r l e s S. R e a
Treasurer, E d w a r d L . M i l l e t t
Clerk of the Corporation, F r a n k S. P e r k i n s
Board of Investment: C h a r l e s S. R e a , G e o r g e R . J e w e t t , D a n i e l A . V
G e o r g e H . A l l e n , W il l i a m P . M c M u l l a n , R o b e r t O sg o o d
Incorporated Jan. 29, 1818.

Open for business every business day, 8 .4 5
also Saturdays, 7 to 9 p .m .

arney,

to 1.15

a .m .

p .m . ;

Deposits commence to draw interest the third W ednesday of January, April, July and
October.
Dividends are payable the fourth W ednesday of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ss e t s

L ia b il it ie s

Public funds
$1,248,300
.2,321,912
Railroad bonds
. 300,000
Street railway bonds
Boston Terminal Company bonds . 100,000
Telephone company bonds
.
87,000
Bank and trust company stocks . 169,660
Loans to counties, cities or towns . 172,125
“
“ railroad companies
. 149,625
1,500
“
on railroad stocks
“
“ bank and trust co. stocks
1,400
“
“ real estate
.2,319,505
“
“ personal security
.1,762,300
.
60,000
Bank building and fixtures .
Deposits in banks, on interest
.
55,889
Cash on hand
21,311
2,336
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
50
00
00
00
00
00
00
00
00
00
00
00
36
43
75

$8,772,865 04

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

.$8,115,840 13
.
.

405,000 00
248,553 91

.

$4,608 45

.

1,137 45

3,471 00

$8,772,865 04

[Pub. Doc

R E PO R T OF THE

244

Salem Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

Shs.

20
25
62
583
502
60
80
223
63
45

Estimated
Market Value

Par Value

Schedule of Securities Owned

$ 1 ,1 2 6 ,3 0 0
2 ,2 9 6 ,0 0 0
3 0 0 ,0 0 0
1 00,000
100,000
172,125
5 0,000

.
.
.

legal
.

00
00
00
00
00
00
00

$ 1 ,1 18,355
2,245 ,4 4 7
3 06,500
9 8,000
90 ,3 7 5
167,567
50,000

266,0 0 0 00

$4,4 1 6 ,4 2 5 00

$4,346,620 00

$ 4 ,3 78,962 50

$ 2,000
2,500
6,200
58,300
5 0 ,200
6,000
8 ,000
2 2 ,300
6,300
4 ,500

$3,000
2,500
19,468
126,511
80,320
17,400
12,800
47,945
9 ,135
5,175

$ 2,000
2 ,500
6,200
58,300
50,200
9 ,0 0 0
8 ,000
2 2,300
6,660
4 ,500

Si

4
41

“
“
“

“
“
“

O c t . 31, 1908,

on

00
00
00
00
00
00
00
00
00
00

.

—

—

-

-

-

.

4f
5
5i
54
of
6
6f
6f
7

»
“

ct
“
“
“
“
“
“
“

Totals

“
“
11
“
“
“
“
“
“
“

.

424,700 00
125,000 00
1 ,0 8 7 ,3 5 5 00

.

9 ,0 5 0 00

-

—

18,100 00
—

.

.

-

$ 2 ,3 1 9 ,5 0 5 00
4 .6 2 per cent.

Average rate

T otal E xpen ses
Salaries
Am ount paid for 815,2 7 5 61
% of total assets .1741 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

for

Other Loans

$20,000
3 0,000
15,450
2 9,800
8 ,3 7 5
6 4,000

Y

-

-

-

-

$ 50,000
7 20,000
156,600
175,700
8 0,000
2 5 0 ,0 0 0
5 0 ,000
200,000
15,000
5 0 ,000
15,000

00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00
00

-

4 ,500
500
52,400
50,000

00
00
00
00
-

49 ,6 2 5 00
-

00
00
00
00
00
00
00
00
00
00

$169,660 00

E a c h S p e c if ie d R a t e

-

$24,200 00
562,100 00
69,000 00
-

4¡

b e a r in g

00
00
00
00
00
00
00
00
00
00

$324,254 00

Loans on Personal
Security

Loans on Real
Estate

R ate

3 .1 0 per cent.
3 .1 5 “
“
3 .2 0 “
“
3f
“
“

L oans

00
50
00
00
00
00
00

270,3 7 5 00

$166,300 00

op

$ 1 ,1 2 6 ,3 0 0
2,2 7 7 ,9 1 2
3 0 0 ,0 0 0
100,000
87,0 0 0
172,125
4 9 ,6 2 5

272,000 00

Bank and Trust Company Stocks
Beverly National Bank, Beverlv
Boylston National Bank, Boston
First National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston .
National Shawmut Bank, Boston
National Union Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
National Grand Bank, Marblehead

T otal A mount

00
50
00
00
00
50
00

Book Value

of

I nterest

Total Loans

$ 20,000
3 0,000
15,450
29,800
32,5 7 5
626,100
69,000
50,000
1,149,200
282,100
1,315 ,4 5 5
130,000
259,0 5 0
5 0,000
267,7 2 5
15,000
5 0,000
15,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$ 1 ,7 62,300 00

$324,650 00

$ 4 ,4 0 6 ,4 5 5 00

5 .0 5 per cent.

4 .4 2 per cent.

4 .7 7 per cent.

e a r , e x c l u s iv e

Rent
$ 2,500 00
.0 2 8 5 of 1 %

of

St a t e T a x e s

Advertising
$582 81
.0 0 6 6 of 1 %

Other Expenses
$ 1 ,715 44
.0 1 9 6 of 1 %

Total
$20,073 86
.2 2 8 8 of 1 %

No. 8iJ

BANK COMMISSIONER

245

Salem Savings Bank — Concluded
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
A m ount of deposits .
. $833,100 95
Num ber of same
10,208
Am ount of withdrawals
$1,162,429 22
N um ber of same
12,058
N et decrease in deposits
. $19,0 3 6 66

D iv i d e n d s d e c l a r e d d u r in g Y e a r
April, 1908, 2 %
$154,852 75
O ct., 1 9 0 8 ,2 %
. 155,438 86 $310,291 61

C a s h o n D e p o s it in B a n k s
N ’l Bank of Commerce, Boston .
Asiatic National Bank, Salem
.

$29,471 81
26,417 55

M is c e l l a n e o u s
N um ber of corporators, 1 2 4 ; trustees, 23
Gross income rec’d during year . $389,550 97
State ta x (net) paid “
“
.
27,981 40

D ate

o f

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income

and

,.

F ix t u r e s
. $60,000
.
6 3,000
.
63,000
1,716

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
Total number O ct. 31, 1908 .
Average balance “
“

00
00
00
94

1,306
1,383
16,794
$483 25

S t a t is t ic s o f L o a n s
N o. not exceeding $3,000 each
235
Am ount of same
.
. $ 3 4 2,120 00
No. of loans on real estate .
369
Average amount of same
.
$6 ,2 8 5 92
A m ount loaned on real est ate
during year
.
.
. $287,430 00
N o. of new real estate loans
made during year .
.
65

E x a m i n a t i o n , August 17, 18, 19

SALEM FIVE CENTS SAVINGS BANK, SALEM
President, H

enry

Board of Investment:

A. H ale
Treasurer, J o h n S. W
Clerk of the Corporation, J o h n S. W i l l ia m s
H

e n r y M.
H enry

B atch elder, F ra n k A. B ro w n , W
A . H a l e , M a t t h e w R o bso n

i l l ia m s

il l ia m

Incorporated March 9, 1855. Open for business every business day, 8 .4 5
also Saturdays, for deposits only, 7 to 9 p .m .

a .m .

R . Co l b y ,

to 1.15

p .m . ;

Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the eighth day of February and August

B a l a n c e S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

Public funds
.
.
.
$1,465,250
Railroad bonds .
.
.
.1,219,200
Street railway bonds .
.
. 134,000
Boston Terminal Company bonds .
10,000
Bank and trust company stocks . 295,017
Loans to counties, cities or towns .
82,150
“
“ railroad companies
. 60,000
“
on railroad bonds
.
.
2,500
“
“ railroad stocks
.
.
4,800
“
“ bank and trust co. stocks
2,000
“
“ real estate
.
.
.2,867,275
“
“ personal security
.
.1,581,525
Bank building and fixtures
.
. 114,000
Real estate by foreclosure, etc.
.
51,124
Taxes, insurance, etc., paid on
mortgaged properties
.
.
696
Deposits in banks, on interest
. 121,651
Cash on hand
.
.
.
.
19,078
Checks and cash items
.
.
1,713


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00
00
00
00
00
00
45
00
03

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.

.

.

.$7,462,967 62
.
.

379,600 00
100,327 14

89,086 59

93
63
16
15

$8,031,981 35

$8,031,98 1 35

246

R E PO R T OF THE

[Pub. Doc.

Salem Five Cents Savings Bank — Continued
Schedule op Securities Owned

Public funds
Railroad bonds
Street railway bonds
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

Shs.
115
200
50
90
335
165
2 46
100
120
65
125
75
50
40
77
130
25
200
450
100
162
153

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Boylston National Bank, Boston
Faneuil H all National Bank, Boston
First National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
New England National Bank, Boston
Old Boston National Bank, Boston
Second National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
W arren National Bank, Peabody
Asiatic National Bank, Salem .
First National Bank, Salem
Mercantile National Bank, Salem
Merchants National Bank, Salem
National Exchange Bank, Salem
Naum keag National Bank, Salem
Salem National Bank, Salem

$1,2 9 7 ,8 5 0 00
1 ,176,500 00

120,000 00
10,000 00
8 2,150 00

of

R ate

L oans

on

Estate

287,500 00

$ 2 ,9 79,000 00

$3,0 7 3 ,6 8 4 50

$ 2 ,9 70,600 00

$11,500 00

$16,100 00

$ 11,500 00

20,000 00

20,000 00

20,000 00

5.000
9 .000
3 3.500
16.500
24,600

6,900
2 8,260
7 2,695
2 6,400
71,340
16,000
16,800
7 ,215
26 .8 7 5
10.875
50
5,800
8 ,0 8 5
13.000
375

5.000
12.300
33.500
16.500
40 ,7 7 5
11.400
13,600
6,500
16.400

6.500
12.500
7.500
1,750
4.000
7,700
13.000

00
00
00
00
00

00
00
00
00
00
00
00

4
R
44

$181,500
79,700
910,000
7,000
34,200
1,368,600

4f

4f
5
5i
5%

194,200 00

54

IO 50 CDr- C-

70,875
4,600
1,600
15,000

.3 0
T otals

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00

00
00
00
00
00
00
00
00
00

8,200 00
4.000 00
7,700 00
12,642 00

20,200 00

20,000 00

22 .5 0 0
3 .500
16,200
15,300

3 6.000
500
2 3,490
9 ,180

00
00
00
00

2 3.500 00

$436,140 00

$295,017 00

b e a r in g

00
00
00
00

Utner Loans

$65,000 00
25,000 00
373,272 50

$12,900 00
63,250 00
15,200 00

-

245,702
264,150
20,000
210,000
129,400
113,500
87,000
27,000
21,500

16,200 00
15.300 00

E a c h S p e c if ie d R a t e

Security

00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

1.000 00
20.000 00

per cent.

3f

00 $ 1,297,750 00
00
1,173,200 00
00
120,000 00
00
10,000 00
00
8 2,150 00

295,792 50

10,000 00
12,000 00

O ct . 31, 1908,

51,319,065
1,245,160
121,975
9 ,800
8 1 ,892

Book Value

292,5 0 0 00

$273,550 00

T otal A m ount

Estimated
Market Value

Par Value

95
00
00
00
00
00
00
00
00

60,000 00

100 00

of

I nterest

lotal Loans

$12,900
309,750
104,700
1,298,472
7,000
279,902
1,692,750
20,000
210,000
323.600
113,500
157,975
3 1,600
23,100
15,000

00
00
00
50
00
95
00
00
00
00
00
00
00
00
00

$ 2 ,8 67,275 00

$ 1 ,5 81,525 45

$151,450 00

$ 4,600,250 45

4 .8 2 per cent.

5 .0 2 per cent.

4 .4 2 per cent.

4 .8 8 per cent.

BANK COMMISSIONER

No. 8]

247

Salem Five Cents Savings Bank — Concluded
T otal E xpen ses
Salaries
Am ount paid for
$ 15,092 16
% of total assets .1 8 7 9 of 1 %

for

Y

e a r , e x c l u s iv e

Rent
$2,500 00
.0311 of 1 %

D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
.
$ 1 ,3 06,749 49
N um ber of same
26,338
$ 1 ,5 70,648 98
Am ount of withdrawals
N um ber of same
2 1,058
. $15,837 26
Net increase in deposits
D iv i d e n d s d e c l a r e d d u r in g Y e a r
Feb., 1908, 2 %
$139,450 40
A u g ., 1908, 2 %
. 140,286 35 $279,736 75
C a s h o n D e p o s it in B a n k s
Second National Bank, Boston .
Asiatic National Bank, Salem
.
Mercantile National Bank, Salem
Merchants National Bank, Salem

$50,750
7,000
18,742
4 5,158

00
00
95
68

M is c e l l a n e o u s
Num ber of corporators, 1 6 7 ; trustees, 30
Gross income rec’d during year . $382,441 29
State ta x (net) paid “
“
.
21,019 18
D ate

of

of

Sta t e T a x e s

Advertising
$653 40
0079 of 1 %

Other Expenses
$3,413 90
.0 4 2 5 of 1 %

B a n k B u il d in g
Book value
.
Estim ated value
Assessed value .
N et income
.

an d

.
,
.
.

Total
$21,659 46
.2 6 9 4 of 1 %

F ix t u r e s
$114,000 00
.
114,000 00
.
110,000 00
.
3 ,6 2 6 82

D e p o s it A c c o u n t s
Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

3,342
3 ,434
2 3 ,352
$319 58

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
449
A m ount of same
.
. $ 6 5 0,775 00
N o. of loans on real estate .
636
Average am ount of same
.
$ 4 ,5 0 8 29
Am ount loaned on real estate
during year
.
.
. $216,350 00
No. of new real estate loans
made during year .
.
69

E x a m i n a t i o n , April 22, 23

SEAMEN’S SAVINGS BANK, PROVINCETOWN
President, L y s a n d e r N . P a i n e
Clerk of the Corporation, W

Treasurer, W il l ia m H . Y
FI. Y o u n g

Board of Investment: L y s a n d e r N . P a i n e , A . L o u is P u t n a m , H
A r t e m a s P. FI a n n u m , G e o r g e F. M i l l e r
Incorporated April 14, 1851.

oung

il l i a m

em an

Open for business every business day, 9
1 to 3 P.M.

S. C o o k ,

a .m .

to 12

m .,

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the Friday preceding the third M onday of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
.
.
.
.
$70,600 00
Railroad bonds .
.
.
.
31,212 50
Street railway bonds
10,000 00
Telephone company bonds .
9,000 00
Bank and trust company stocks
7,895 00
Loans to counties, cities or towns .
12,460 00
“ railroad companies
10,000 00
“
on bank and trust co. stocks
200 00
“
“ real estate
223,262 15
“
“ personal security
49,254 21
Bank building and fixtures .
8,000 00
Real estate by foreclosure, etc.
19,372 43
Deposits in banks, on interest
10,139 97
Cash on hand
.
.
.
.
4,577 44


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$465,973 70

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.

Interest, rents, etc.
. $5,635 35
Less current
Expenses . $1,626 94
Taxes
.
159 14
1,786 08

$447,607 79
13,264 08
1,252 56

3,849 27

$465,973 70

248

R E PO R T OF THE

[Pub. Doc

Seamen’s Savings Bank — Continued
Par Value

Schedule of Securities Owned

Public funds
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

$ 53,600
26 ,3 0 0
10,000
10,000
12,460

00
00
00
00
00

Estimated
Market Value

Book Value

$54,247
2 5,702
10,700
9 ,037
12,460

$53,600
26,212
10,000
9 ,0 0 0
12,460

74
00
00
50
00

00
50
00
00
00

32 ,0 0 0 00

31 ,2 5 0 00

32 ,0 0 0 00

$ 1 4 4,360 00

$143,397 24

$143,272 50

Shs.
Bank and Trust Compamj Stocks
50 Central National Bank, Boston .
20 Eliot National Bank, Boston
2 5 National Bank of the Republic, Boston
17 Second National Bank, Boston .
10 ¡State National Bank, Boston
22 Trem ont National Bank, Boston
4 W ebster & A tlas National B ’k, Boston .
5 H om e National Bank, Brockton .
10 Blue liiii National Bank, Milton
13 First National Bank, Provincetown

$4,7 5 0 00
2 ,0 0 0 00
1,700 00
1,000 00
770 00
400 00
500 00
1,000 00
1,300 00

$ 1 ,000
3 ,9 5 0
1,250
3 ,655
1,450
22
580
1,000
1,250
1,300

$13,4 2 0 00

00
00
00
00
00
00
00
00
00
00

—

$ 2 ,0 0 0 00
-

1,700 00
1,000 00
_
400 00
500 00
1,000 00
1,295 00

$15,457 00

$ 7,895 00

T o t a l A m o u n t o f L o a n s o n O c t . 3 1 , 1 9 0 8 , b e a r in g E a c h S p e c if ie d R a t e o f I n t e r e s t

Loans on Real
Estate

Rate

4 per cent.
R
“
“
5
“
“
5* “
“
54 “
“
6
“
“
T otals

.
.
•
•
.

$ 3,500
49,651
4 ,000
67,500
98 ,6 1 0

.

.

.

Average rate

00
87
00
00
28

Loans on Personal
Security

$24,1 0 0 00

$ 1,250 00
1,230 00
19,980 00

2 ,0 0 0 00
23 ,1 5 4 21

200 00

Total Loans

$1,2 5 0
4 ,730
93,731
4 ,000
6 9,500
121,964

00
00
87
00
00
49

$223,262 15

$49,2 5 4 21

$22,6 6 0 00

$295,176 36

5 .5 8 per cent.

5 .4 9 per cent.

4 .9 2 per cent.

5 .5 2 per cent.

T o t a l E x p e n s e s f o r Y e a r , e x c l u s iv e

Salaries
Am ount paid for
$2,309 9 5
% of total assets .4 9 5 7 of 1 %

Rent
-

D e p o s it s a n d W it h d r a w a l s d u r in g Y e a r

Am ount of deposits .
Num ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

Other Loans

.

. $92,709 17
1,248
$88,207 51
1,381
$18,562 25

of

Advertising

State T a x e s

Other Expenses
$1,391 03
.2 9 8 5 of 1 %

B a n k B u il d in g

and

Total
$ 3,700 98
. 7942 of 1 %

F ix t u r e s

Book value
Estim ated value
Assessed value .
N et income

$ 8,000
8 ,0 0 0
7 ,3 8 0
62

00
00
00
50

D e p o s it A c c o u n t s
D iv id e n d s d e c l a r e d d u r in g Y e a r

Jan., 1908, i \ %
July, 1908, l f %

.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 6,948 59
7,112 00

$ 14,060 59

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

227
173
1,922
$232 88

249

BANK COMMISSIONER

No. 8]

Seamen’s Savings Bank — Concluded
C a s h o n D e p o s it i n B a n k s
National Shawmut B ’k, Boston .
First N ’ l Bank, Provincetown
.

$2 ,3 3 4 76
7,805 21

M is c e l l a n e o u s
Num ber of corporators, 6 3 ; trustees, 13
Gross income rec’d during year . $20,849 72
S tate ta x (net )paid “
“
.
822 19
D ate

of

S t a t is t ic s o f L o a n s
N o. not exceeding $ 3,000 each
316
Am ount of same
.
. $220,953 22
N o. of loans on real estate .
256
Average anlount of same
.
$872 11
Am ount loaned on real estate
during year
.
.
. $35,447 00
N o. of new real estate loans
made during year .
.
65

E x a m i n a t i o n , October 20

SHELBURNE FALLS SAVINGS BANK, SHELBURNE FALLS
President, G e o r g e W . J e n k s
Clerk of the Corporation, H

Treasurer, W
N ew ell

Board of Investment: E d w i n B a k e r , C. W . H
Incorporated March 28, 1855.

S. B a l l

il f r e d

erbert

aw ks,

W . S. B a l l

Open for business every business day, 9

a .m .

to 3

p .m .

Deposits commence to draw interest the tenth day of January, April, July and October
Dividends are payable the tenth day of April and October

B a l a n c e S h e e t , O c t o b e r 31, 1908

Public funds
.
.
.
.
$252,000
Railroad bonds .
.
.
.
604,034
Street railway bonds .
.
. 120,000
Boston Terminal Company bonds .
50,000
Telephone company bonds .
.
28,175
Bank and trust company stocks .
21,800
Loans to counties, cities or towns .
19,995
“
“ railroad companies
.
25,000
“
on bank and trust co. stocks
400
“
“ depositors’ books
.
.
700
“
“ real estate
.
.
• 498,253
“
“ personal security
.
. 36,425
Bank building and fixtures .
.
9,000
Deposits in banks, on interest
.
18,309
“
“
“
not on interest .
1,628
Cash on hand
.
.
.
.
2,301
Checks and cash items
.
.
171

00
37
00
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

L ia b il it ie s
.
.
.
.

.
.

00
00
00
00
00
50
00
00
30
17
57
95

Interest, rents, etc.
. $10,959 69
Less current
Expenses .
$366 70
Taxes
.
147 44
514 14

.
.
.

legal
.

Shs.
Bank and. Trust Company Stocks
50 N orth Adam s NT Bank, No. A dam s .
30 First National Bank, Northam pton .
138 Shelburne F. NT B ’k, Shelburne Falls

10,445 55

$1,688,194 74

Estimated
Market Value

Par Value

Schedule of Securities Owned


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

78,500 00
9,158 97

88

$1,688,194 74

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

.$1,590,090 22
.
.

$232,000
615,0 0 0
120,000
5 0,000
30,0 0 0
19,995

00
00
00
00
00
00

$235,085
581,437
120,975
49 ,0 0 0
2 7,112
19,995

00
50
00
00
50
00

Book Value

$232,000
6 04,034
120,000
50,000
2 8,175
19,995

00
37
00
00
88
00

4 5,000 00

45,162 50

45,0 0 0 00

$1,1 1 1 ,9 9 5 00

$ 1,078,767 50

$1,0 9 9 ,2 0 5 25

$ 5,000 00
3 ,000 00
13,800 00

$5,750 00
3 ,9 0 0 00
2 0,700 00

$5,000 00
3 ,0 0 0 00
13,800 00

$ 21,800 00

$30,350 00

$21,800 00

R E PO R T OF THE

250

[Pub. Doc.

Shelburne Palls Savings Bank — Concluded
T otal A m ou nt

of

on

O c t . 31, 1908,

Loans on Real
pstate

R ate

5 per cent.
6 “
»
T otals

L oans

.

Average rate

Loans on Personal
Security

Other Loans

I nterest

Total Loans

$498,253 50

$ 36,425 00

$46,095 00

$580,773 50

5 .1 1 per cent.

5 .5 4 per cent.

5 .0 1 per cent.

5 .1 1 per cent.

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

for

Y

e a r , e x c l u s iv e

Rent
-

Y ear
$196,895 66
2 ,364
$241,283 43
2,679
$16,019 81

d u r in g

Y

ear

. $29,996 73

C a s h o n D e p o s it i n B a n k s
First National Bank, Boston
Shelburne Falls National Bank,
Shelburne Falls

$60,407 58

$18,309 30
1,628 17

M is c e l l a n e o u s
Num ber of corporators, 3 2 ; trustees, 11
Gross income rec’d during year . $ 67,360 64
State ta x (net) paid “
“
.
4 ,875 56

of

of

$ 16,675 00
19,750 00

Salaries
Am ount paid for
$2 ,0 0 0 00
% of total assets .1 1 8 4 of 1 %

D ate

E a c h S p e c if ie d R a t e

$444,053 50
54 ,2 0 0 00

T otal E xpen ses

April, 1908, 2 %
O ct., 1908, 2 %

b e a r in g

$45,7 9 5 00
3 00 00

of

Advertising

$20 00
.0011 of 1 %

$506,523 50
7 4,250 00

St a t e T a x e s
Other Expenses
$930 26
.0551 of 1 %

B a n k B u il d in g
Book value
Estim ated value
Assessed value .
Net income

and

Total
$ 2,950 26
.1 7 4 6 of 1 %

F ix t u r e s
$ 9,000
12,000
6,900
71

D e p o s it A c c o u n t s
N um ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

00
00
00
06

213
311
4 ,646
$342 24

S t a t is t ic s o f L o a n s
No. not exceeding $ 3 ,000 each
180
A m ount of same
$164,423 50
No. of loans on real estate .
185
Average amount of same
$2,693 26
A m ount loaned on real estate
during year
.
.
. $41,425 00
N o. of new real estate loans
made during year .
.
20

E x a m i n a t i o n , August 7

SOMERVILLE SAVINGS BANK, SO M ERVILLE
President, A l b io n A . P e r r y
Treasurer, F r e d e r ic W . S t o n e
Clerk of the Corporation, F r e d e r i c W . S t o n e
Board of Investment: A l b io n A . P e r r y , J. W a l t e r S a n b o r n , P h i l i p E b e r l e ,
F r a n k P . L a d d , W il l ia m E . W h i t n e y
Incorporated Feb. 24, 1885. Open for business every business day, except Saturdays,
9 a .m . to 1 p .m .; Saturdays, 9 a .m . to 12 m .; M ondays, 7 .3 0 to 8 .3 0 p .m .
Deposits commence to draw interest the first day of March, June, September and December
Dividends are payable the fifteenth day of June and December


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

251

BANK COMMISSIONER

No. 8]

Somerville Savings Bank — Continued
B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
.
Public funds
.
Railroad bonds .
.
Street railway bonds
Boston Terminal Company bonds .
Telephone company bonds .
Loans to counties, cities or towns
.
“
on real estate
.
“
“ personal security
Real estate bv foreclosure, etc.
Taxes, insurance, etc., paid on
mortgaged properties
.
Premiums .
.
.
.
Expense foreclosed properties
.
Deposits in banks, on interest
Cash on hand
Checks and cash items

L ia b il it ie s
$275,145
267,894
65,000
50,000
4,512
49,845
809,810
242,300
800

88
38
00
00
50
00
50
00
21

155
16,512
46
92,430
995
114

68
65
57
01
47
00

.$1,780,451 S3

Deposits .
Surplus:
Guaranty fund
Profit and loss

59,000 00
4,775 24

$32,816 85

Interest, rents, etc.
Less current
Expenses .

2,204 28

723 21

$1,875,562 85

$1,875,562 85

T otal A m ount

of

L oans

T otals

$241,5 5 0
272,0 0 0
6 0 ,000
5 0 ,000
5 ,000
4 9,845

.
.
.

legal
.

O c t . 31, 1908,

•
•
.
.
•
.
•

.

Average rate

Book Value

$241,362
267,8 9 4
6 0,000
5 0,000
4,512
4 9,845

00
00
00
00
75
13

3 9 ,2 0 0 00

38,783 00

$717,3 9 5 00

$704,023 88

$712,397 76

b e a r in g

.

25.0 0 0
40.0 0 0
6 5.000
5 1,100

.
$42,0 0 0
7 43,235
20 ,2 2 0
4 ,355

00
50
00
00

88
38
00
00
50
00

39 ,0 0 0 00

E a c h S p e c if ie d R a t e

I nterest

$40,000
20 ,0 0 0
5 ,375
10,000
5 9 ,470
4 0 ,000
107,000
794,3 3 5
2 0 ,2 2 0
5,555

$5 ,3 7 5 00
10,000 00
34 ,4 7 0 00

00
00
00
00

of

Total Loans

Other Loans

$40,0 0 0 00
20 ,0 0 0 00

1,200 00

00
00
00
00
00
00
00
50
00
00

$8 0 9 ,8 1 0 50

$242,3 0 0 00

$49,8 4 5 00

$1,1 0 1 ,9 5 5 50

4 .9 9 per cent.

3 .9 4 per cent.

3 .8 9 per cent.

4 .7 1 per cent.

T otal E x pen ses
Salaries
A m ount paid for
$4 ,1 9 0 00
% of total assets .2 2 3 3 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$241,722
2 5 9 ,9 8 0
5 9,925
49,0 0 0
4,518
49,67S

00
00
00
00
00
00

Loans on Personal
Security

Loans on Real
Estate

Rate

2 per cent.
2* “
“
3| “
“
H
“
“
4
“
“
4L “
“
4* “
“
5
“
“
H
“
“
6
“
“

on

Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

30,612 57

Stamp savings system

for

Y

e a r , e x c l u s iv e

Rent
$500 00
.0 2 6 6 of 1 %

of

Advertising
—
-

St a t e T a x e s
Other Expenses
$503 01
.0 2 6 8 of 1 %

Total
$5,193 01
.2 7 6 7 of 1 %

252

REPO RT OF THE

[ Pub. Doc.

Somerville Savings Bank — Concluded
D e p o s it s a n d W i t h d r a w a l s d u r in g Y e a r
Am ount of deposits .
. $ 4 8 8,650 21
Num ber of same
13,513
Am ount of withdrawals
. $ 4 8 9,094 54
N um ber of same
9 ,5 9 0
N et increase in deposits
. $62,772 45
D iv i d e n d s d e c l a r e d d u r in g Y e a r
D ec., 1907, 2 %
. $31,176 30
June, 1908, 2 %
. 3 2 ,0 4 0 48 $63,2 1 6 78
Ca s h o n D e p o s it in B a n k s
First National Bank, Boston
.
Fourth National Bank, Boston .
National Shawmut Bank, Boston
Somerville N ’l B ’k, Somerville
.

$38,587
40,333
6,719
6,789

44
51
97
09

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
.

1,675
1,505
10,793
$164 94

S t a t is t ic s o f L o a n s
N o. not exceeding $3 ,0 0 0 each
330
Am ount of same
.
. $514,466 18
N o. of loans on real estate .
388
Average amount of same
.
$ 2,087 14
Am ount loaned on real estate
during year
.
.
. $ 1 1 0,750 00
N o. of new real estate loans
made during year .
.
44
D ate

of

E x a m i n a t i o n , N ovem ber 17

M is c e l l a n e o u s
N um ber of corporators, 4 1 ; trustees, 20
Gross income roc’d during year . $82,5 7 4 56
State ta x (net) paid “
“
.
4 ,855 78

SOUTH ADAMS SAVINGS BANK, ADAMS
President, F r a n c is E . M o l e
Treasurer, G e o . H . H
Clerk of the Corporation, C h a r l e s F . S a y l e s

olden

Board of Investment: F r a n c is E . M o l e , J a m e s C. C h a l m e r s , N . H . B i x b y ,
A sa S. H a r r i n g t o n , C. F. S m it h
Incorporated M ay 1, 1869.

Open for business every business day, 9
1.30 t o 3 p .m .

a .m

. to 12.30 p . m .

Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first day of January and July

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
Railroad bonds .
Street railway bonds .
Bank and trust company stocks
Loans to counties, cities or towns
on real estate
“
“ personal security
Real estate by foreclosure, etc.
Furniture and fixtures
Deposits in banks, on interest
Cash on hand

. $108,836 00
. 186,397 50
.
50,000 00
22,000 00
. ’ 40,542 17
. 584,003 41
. 112,757 43
.
10,054 47
992 50
.
23,368 84
1,490 81

Deposits .
Surolus:
Guaranty fund
Profit and loss

L ia b il it ie s
.$1,070,665 52
49,000 00
14,333 65

Interest, rents, etc.

.

$7,403 93

Expenses .

959 97

$1,140,443 13

$1,140,443 .13

______________________________ _

Schedule or Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value
.
.

legal
.

6,443 96

$10 4 ,5 0 0
187,000
3 0 .0 0 0
40,542

00
00
00
17

$ 1 0 4,520
174,345
3 0 ,3 0 5
4 0 ,542

00
00
00
17

Book Value

$103,8 3 6
186,397
3 0 .0 0 0
40,542

00
50
00
17

25 .0 0 0 00

2 4 ,3 0 0 00

25.0 0 0 00

$387,042 17

$374,012 17

$38 5 ,7 7 5 67

No. 8]

BANK COMMISSIONER

253

South Adams Savings Bank — Concluded
Schedule or Securities Owned

Siis.
130
10
10
12
13
35
5
5

Par Value

Bank and Trust Company Stocks
First National Bank, A dam s
Conway National Bank, Conway
Lenox National Bank, Lenox .
Lee National Bank, Lee .
First National Bank, Newburyport .
No. A dam s National B ’k, N . A dam s .
Third National Bank, Pittsfield
W illiam stow n N ’l B ’k, W illiam stow n

$13,0 0 0
1,000
1,000
1,200
1,300
3 ,5 0 0
500
500

00
00
00
00
00
00
00
00

$22,000 00

T otal A m ount

of

L oans

“

Totals

“

O c t . 31, 1908,

Loans on Real
Estate

Rate

4 per cent.
4* “
“
5
6
“
“
7

on

b e a r in g

.

.

Average rate

.

$13,0 0 0
1,000
1,000
1 ,200
1,300
3 ,5 0 0
500
500

00
00
00
00
00
00
00
00

E a c h S p e c if ie d R

Loans on Personal
Security

$556,464 90
2 7,388 51
150 00

00
00
00
00
00
00
00
00

$22,0 0 0 00

a te of

Other Loans

I nterest

Total Loans

$30,0 0 0
10,542
657,464
39,1 4 5
150

$1 0 1 ,0 0 0 00
11,757 43

00
17
90
94
00

$584,003 41

$112,757 43

$40,542 17

$737,303 01

5 .0 5 per cent.

5 .1 0 per cent.

4 .1 3 per cent.

5 .0 0 per cent.

Salaries
$2,100 00
. 1841 of 1 %

D e p o s it s a n d W i t h d r a w a l s
Am ount of deposits .
.
Num ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits

for

Y

e a r , e x c l u s iv e

Rent
$700 00
.0 613 of 1 %

Y ear
. $ 2 1 7,044 24
2 ,806
$261,7 6 6 32
2 ,505
$ 6,924 13

d u r in g

D iv i d e n d s d e c l a r e d d u r in g Y e a r
.Tan., 1908, l f %
. $17,691 17
July, 1908, 2 % .
. 2 0,106 78 $37,797 95
C a s h o n D e p o s it i n B a n k s
First National Bank, A dam s
.
First National Bank, Boston
.

$20,943 98
2 ,4 2 4 86

M is c e l l a n e o u s
N um ber of corporators, 3 3 ; trustees, 11
Gross income rec’d during year . $52,2 1 4 18
State ta x (net) paid “
“
.
2 ,3 9 0 69


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$14,9 5 0
1,000
1,500
1,980
1 ,430
4 ,0 2 5
1,125
500

$30,0 0 0 00
10,542 17

T otal E x pen ses
Am ount paid for
% of total assets

Book Value

$26,5 1 0 00

-

.

Estimated
Market Value

of

Advertising
$89 00
0078 of 1 %

St a t e T a x e s
Other Expenses
$1,018 14
.0 8 9 2 of 1 %

D e p o s it A c c o u n t s
Num ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

Total
$3,907 14
3 424 of 1 %

460
465
3 ,018
$354 76

S t a t is t ic s o f L o a n s
No. not exceeding $3 ,0 0 0 each
358
Am ount of same
.
. $398,103 41
N o. of loans on real estate .
381
Average amount of same
.
$ 1,532 81
Am ount loaned on real estate
during year
.
.
. $58,359 27
N o. of new real estate loans
made during year .
.
42
D ate

of

E x a m i n a t i o n , August 5

254

R E PO R T OF THE

[Pub. Doc.

SOUTH BOSTON SAVINGS BANK, SOUTH BOSTON
President, J o h n E . A l d e n
Treasurer, E d w a r d H . B a r t o n
Clerk of the Corporation, E d w a r d H . B a r t o n
Board of Investment: J o h n E . A l d e n , W i l l ia m S. C r o s b y , C h a r l e s T . G a l l a g h e r ,
G e o r g e H . B o n d , J. A l f r e d M i t c h e l l , E z r a H . B a k e r , J. C a r l t o n N ic h o l s ,
W a l t e r J e n n e y , J o h n L. S p a u l d in g , Jr.
Incorporated March 3, 1863. Open for business every business day, except Saturdays,
9 a .m . to 3 p .m .; Saturdays, 9 a .m . to 1 p .m .; also M ondays, 7 to 9 p .m ., for deposits
only
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the first day of M ay and Novem ber

B a l a n c e S h e e t , O c t o b e r 31, 1908
A ssets
Public funds
$924 ,000 00
Railroad bonds .
1,007 ,418 75
Boston Terminal Company bonds
150 ,000 00
Bank and trust company stocks
26 ,800 00
Loans to railroad companies
50 ,000 00
on real estate
3,274, 295 00
982 000 00
“
“ personal security
Bank building and fixtures .
50 000 00
Real estate in possession
33 656 33
Taxes, insurance, etc., paid o
mortgaged properties
214 67
Deposits in banks, on interest
240 ,960 46
Cash on hand
13 ,925 86
Checks and cash items
374 50

L ia b il it ie s
Deposits .
Surplus:
Guaranty fund
Profit and loss

3,305,941 35
311,740 00
135,964 22

3,753,645 57

Schedule

of

Secukities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Boston Terminal Com pany bonds
Bonds and notes which are not now
investments
.
.
.
.

Shs.
3
75
22
18
36
100
14

.
.
legal
.

Bank and Trust Company Stocks
First National Bank, Boston
National Bank of Commerce, Boston .
Old Boston National Bank, Boston .
Second National Bank, Boston
State National Bank, Boston
W ebster & Atlas N ’l Bank, Boston .
W inthrop National Bank, Boston

$6,753,645 57

Par Value

Estimated
Market Value

Book Value

$873,000 00
986,0 0 0 00
150,000 00

$843,532 50
996,9 1 5 00
147,000 00

$ 8 7 3,000 00
982,418 75
150,000 00

126,000 00

126,758 34

126,000 00

$2,1 3 5 ,0 0 0 00

$ 2 ,1 14,205 84

$ 2 ,1 31,418 75

$300
7 ,500
2 ,200
1,800
3 ,6 0 0
10,000
1,400

$942
12,000
2,442
3 ,8 7 0
5 ,220
14,500
3 ,9 2 0

$300
7 ,500
2 ,2 0 0
1,800
3 ,6 0 0
10,000
1,400

00
00
00
00
00
00
00

$ 26,800 00

T otal A m ou nt

of

L oans

O c t . 31, 1908,

Loans on Real
Estate

Rate

4 § per cent.
44 “
“
4Î «
“

on

.
.

.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

—

~

b e a r in g

00
00
00
00
00
00
00

$42,8 9 4 00

E a c h S p e c if ie d R

Loans on Personal
Security

Other Loans

$ 5 0 ,0 0 0 0 0
3 9 2 ,0 0 0 0 0
6 5 ,0 0 0 0 0

—

—

00
00
00
00
00
00
00

$26,8 0 0 00

ate of

Interest

Total Loans

$ 5 0 ,0 0 0 0 0
3 9 2 ,0 0 0 0 0
6 5 ,0 0 0 0 0

BANK COMMISSIONER

No. 8]

255

South Boston Savings Bank— Concluded
T

otal

A

m ount of

L

oans on

ct

.

31, 1908, b e a r i n g E
— Concluded

per cent.
“
“
5* “
“
5| “
“
6 “
6i “ “
5i

.
•
■
.
•

T

E

$ 50,000 00

$4,3 0 6 ,2 9 5 00

5 .0 2 per cent.

4 .9 5 per cent.

5 .0 0 per cent.

xpen ses

for

and

W

it h d r a w a l s

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

Y

e a r

,

e x c l u s iv e

Rent

Am ount paid for
$15,461 56
% of total assets .2 289 of 1 %
e p o s it s

.

$1,800 00
.0 2 6 7 of 1 %
d u r in g

Y

iv id e n d s

declared

ear

$ 1 ,2 31,202 90
30 ,9 9 4
$1,424,542 36
26,577
. $37,833 21

Cash

on

D

e p o s it

d u r in g

Y

B

$40,111 57
88,3 4 4 20
75,083 95
37,4 2 0 74

is c e l l a n e o u s

Num ber of corporators, 7 0 ; trustees, 23
Gross income rec’d during year . $313,3 6 5 76
State ta x (net) paid “
“
.
12 ,4 7 5 16
D

ate

of

E

x a m in a t io n

,

State

—
B

B

an k

T

a xes

Total

$1,799 18
.0 2 6 6 of 1 %

$ 19,060 74
.2 822 of 1 %

u il d in g

A

5 .0 0 per cent.

Other Expenses

and

Book value
.
Estim ated value
Assessed value .
N et income
.
e p o s it

00
00
00
00
00
00

F

ix t u r e s

.
.
.
.

. $50,0 0 0
. 114,600
. 6 4,000
.
2,699

00
00
00
73

ccounts

Num ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

2,663
2,888
26,363
$239 19

anks

Boylston National B ’k, Boston
Second National Bank, Boston .
State National Bank, Boston
M attapan Deposit & Trust Com­
pany, South Boston
M

ear

$ 1 1 5,310 24
. 115,862 43 $231,172 67
in

of

Advertising

D
D

April, 1 9 0 8 ,2 % .
O ct., 1 9 0 8 , 2 % .

Total Loans

$982,0 0 0 00

Salaries

D

terest

$3,2 7 4 ,2 9 5 00

7 1,400 00

otal

In

$ 3 ,3 5 0 ,3 9 5
165,000
7 2,500
90 .0 0 0
96 ,4 0 0
2 5.000

22,5 0 0 00

Average rate

Other Loans

of

$ 50,000 00

■

.

ate

00
00
00
00
00
00

$120,000
165,000
5 0.000
90 .0 0 0
25.0 0 0
25.0 0 0

$ 3 ,1 80,395 00

5

S p e c if ie d R

ach

Loans on Personal
Security

Loans on Real
Estate

R ate

Totals

O

S t a t is t ic s

of

L

oans

N o. not exceeding $3,000 each
1,061
A m ount of same
.
$ 1 ,6 6 6 ,2 6 5 00
N o. of loans on real estate .
1,440
Average amount of same
.
$2,273 81
A m ount loaned on real estate
during year
.
.
. $ 1 4 9,230 00
N o. of new real estate loans
made during year .
.
75

March 16, 17

SOUTHBRIDGE SAVINGS BANK, SOUTHBRIDGE
President, C a l v i n

P a ig e
Treasurer, J o h n A . H
Clerk of the Corporation, J o h n A . H a l l

D.

Board of Investment: C a l v i n D. P

, H . S. C h e
C. M . W e lls

a ig e

n ey

,

F. L. C h

a p in

, G

eo

.

all

W. W

ells

,

Incorporated April 20, 1848. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the third W ednesday of January and July


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

256

REPORT OF THE

[Pub. Doc,

Southbridge Savings Bank — Continued
B

Sh

alance

eet

, O

31, 1908

ctober

A ss e t s

Public funds
.
Railroad bonds .
.
.
.
Street railway bonds
Bank and trust company stocks
Loans to counties, cities or towns .
“ railroad companies
on railroad bonds
“ depositors’ books .
real estate
“
“ personal security
Bank building and fixtures .
Stocks, bonds, etc., taken to secure
indebtedness .
.
.
.
Deposits in banks, on interest
Cash on hand
.
.
.
.

$380,211
451,485
45.000
23,665
217,235
189,218
125,000
675
863,225
212,030
33.000

00
00
00
21
00
75
00
00
00
00
00

L iabilities

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

. $2,3S7,529 72
.

Interest, rents, etc.
Less current
Expenses .
.

. $34,312 42
.

1,819 97

Schedule of Securities Owned

$2,591,481 76

Estimated
Market Value

Par Value

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

.
.
.

$ 3 4 5,400
448,5 0 0
4 5,000
217,2 3 5
130.000

00
00
00
00
00

$350,381
4 59,205
46 ,2 7 5
218,3 5 5
130,487

Bank and Trust Company Stocks
Boylston National Bank, Boston
National Bank of Commerce, Boston .
New England National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
Southbridge N ’l Bank, Southbridge .
W are National Bank, W are

otal

A

m ount

of

L

oans on

4f
5
5i
5i

6

Totals

“
“
“
“
“
“
“
“
“

•
.
.

■
.
.

.

.

.
.

.
.

.

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

25
00
00
00
50

$343,211
4 46,485
45,0 0 0
217,2 3 5
129,625

31, 1908,

$ 74,000 00
—
127,300 00
187,000 00
3 1,500 00
421,425 00
—

6,400 00
15,600 00

00
00
00
00
00

102.000 00

104,546 50

101,593 75

$1,2 8 8 ,1 3 5 00

$ 1 ,3 09,250 25

$ 1,283,149 75

$ 1,800
1,000
2 ,200
100
10,000
6,000

$ 1,800
1,600
3 ,0 8 0
145
20,0 0 0
6,600

$ 1,800
1,236
2 ,2 0 0
178
11,290
6,960

b e a r in g

E

Loans on Personal
Security

_

3^ per cent.
“
“
“
“
“
“
“
“
“

ct.

Loans on Real
Estate

R ate

4
R
H
4i

O

Book Value

legal

00
00
00
00
00
00

$ 21,100 00

T

32,492 45-

15.000 00
34,910 22
826 58

$2,591,481 76

Shs,
18
10
22
1
100
60

124,000 00
47,459 59

—

$33,225 00

ach

S p e c if ie d R

Other Loans

$7,000 00
117,835 00
25,0 0 0 00

-

$ 29,000 00
100,000 00
4 6,650 00
—
-

36 ,3 8 0 00

00
00
00
00
00
00

-

5 0,000 00
-

126,768
25 ,0 0 0
900
179,625

75
00
00
00

00
25
00
96
00
00

$ 23,665 21

ate

of

I

n terest

Total Loans

$7,000
191,835
2 5,000
127,300
266,0 0 0
131,500
594,843
25 ,0 0 0
7,300
231,6 0 5

00
00
00
00
00
00
75
00
00
00

$ 8 6 3,225 00

$212,0 3 0 00

$532,128 75

$1,607,383 75

4 .7 1 per cent.

4 .9 8 per cent.

5 .0 2 per cent.

4 .8 1 per cent.

BANK COMMISSIONER

No. 8]

257

Southbridge Savings Bank — Concluded
T

otal

E

xpen ses

for

Salaries
Am ount paid for
$3,491 64
% of total assets . 1347 of 1 %

D

e p o s it s a n d

W

Y

it h d r a w a l s d u r in g

A m ount of deposits
.
Num ber of same
.
A m ount of withdrawals
N um ber of same
.
N et decrease in deposits

.
.
.
.

ear

,

e x c l u s iv e

Rent

Y

ear

. $320,177 50
.
4,489
. $462,328 89
.
4,561
. $55,733 86

iv id e n d s

.

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Cash

on

D

Y

d u r in g

ear

. $43,3 9 0 27
. 43 ,0 2 7 26

e p o s it

B

in

B

$ 86,417 53

$3,508 24
2 8,806 79
2 ,5 9 5 19

is c e l l a n e o u s

N um ber of corporators, 4 1 ; trustees, 17
Gross income rec’d during year . $116,917 02
State ta x (net) paid “
“
.
7,632 83
D

ate

of

E

x a m in a t io n

,

an k

B

T

a xes

Other Expenses
$ 2,478 20
.0 9 5 6 of 1 %

u il d in g

and

F

Total
$6,122 29
.2 3 6 2 of 1 %

ix t u r e s

A

e p o s it

$33,0 0 0
33 ,0 0 0
2 7 ,3 4 5
135

00
00
00
27

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

657
661
6,452
$370 04

anks

Eliot National Bank, Boston
Southbridge N ’l B ’k, Southbridge
W orcester Trust Co., W orcester .
M

St a te

Book value
Estim ated value
Assessed value .
N et income
D

D

of

Advertising
$152 45
.0 0 5 9 of 1 %

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3,0 0 0 each
340
A m ount of same
$ 3 3 8,240 00
342
N o. of loans on real estate .
$2,5 2 4 04
Average amount of same
A m ount loaned on real estate
during year
$38,7 5 0 00
No. of new real estate loans
made during year .
28

March 25

SOUTH SCITUATE SAVINGS BANK, N O EW ELL
President, J o s e p h H . C o r t h e l l
Treasurer, H o r a c e T . F
Clerk of the Corporation, C h a r l e s A . L i t c h f i e l d
Board of Investment:

G

r a n v il l e

Ca

Incorporated April 2, 1834.

l v in

D.

D

S. W

, Joseph
, H orace

am on
est

C. O

T. F

t is

, A

n d rew

J. L

ogg

it c h f ie l d

,

ogg

Open for business every business day, except W ednesdays,
9 a . m . t o 12 m ., 1 t o 4 P .M .

Deposits commence to draw interest the last Saturday of January, April, July and October
Dividends are payable the M onday following the last Saturday of January and July

B

alance

Sh

eet

, O

ctober

31, 1908
L iabilities

A ssets

$25,000 00
Public funds
.
.
.
.
118,275 00
Railroad bonds .
.
.
.
25,000 00
Street railway bonds
4,500 00
Telephone company bonds .
20,340 00
Bank and trust company stocks
16,600 00
Loans to counties, cities or towns .
11,000 00
“
“ railroad companies
1,000 00
“
on railroad stocks
210 00
“
“ bank and trust co. stocks
400,213 95
“
“ real estate
39,444 00
“
“ personal security
5,000 20
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
236 24
mortgaged properties
14,809 09
Deposits in banks, on interest
1,003 34
Cash on hand
.
.
.
.
593 02
Checks and cash items


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$683,224 84

$638,090 99

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

32,000 00
5,121 89

.

$8,694 20
682 24

8,011 96

$683,224 84

REPORT OF THE

258

[Pub. Doc

South Scituate Savings Bank — Continued
Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or tow ns
Loans to railroad companies
Bonds and notes which are not now
investments

.
.
.

$25,0 0 0
116,000
25 ,0 0 0
5 ,000
16,600
1 ,000

00
00
00
00
00
00

A

»

m ou n t of

L

3^ per cent.
4
“
“
5
“
“
5Ï “
“
6
“
“
y
a
a

.
.

.

otal

E

1 4,850 00

1 4,400 00

$193,721 75

$2 0 0 ,3 7 5 00

$1,5 6 0
1,570
4 ,1 6 0
4 ,8 0 0
3 ,2 0 0
1,400
5 ,805
1,740
1,450
2 ,3 0 0
121

00
00
00
00
00
00
00
00
00
00
00

W

E

$800
9 00
2 ,6 0 0
3 ,5 0 0
2 ,7 0 0
1,000
3 ,8 0 0
1,680
1 ,140
2 ,0 0 0
220

$20,3 4 0 00

$28,1 0 6 00

ach

Loans on Personal
Security

S p e c if ie d R

ate

Other Loans

00
00
00
00
00
00
00
00
00
00
00

of

In

terest

Total Loans

$1 ,0 0 0 00
9 ,6 0 0 00
1 8,000 00

$1 ,0 0 0
9 ,6 0 0
142,242
8 5 ,2 7 5
2 2 9 ,9 8 0
370

00
00
00
00
95
00

$400,213 95

$ 3 9 ,4 4 4 00

$28,8 1 0 00

$468,467 95

5 .6 3 per cent.

5 .4 7 per cent.

4 .6 1 per cent.

5 .5 6 per cent.

xpen ses

it h d r a w a l s

Am ount of deposits .
N um ber of same
.
.
Am ount of withdrawals
N um ber of same
.
.
N et increase in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

b e a r in g

00
00
00
00
00
00
00
00
00
00
00

$16,542 00
8 ,8 5 0 00
14,052 00

Salaries
Am ount paid for
$1,857 0 0
% of total assets .2 7 2 0 of 1 %

e p o s it s a n d

00
00
00
00
00
00

00
00
95
00

.

T

$25,0 0 0
113,875
25 ,0 0 0
4 ,5 0 0
16,600
1,000

50
50
00
75
00
00

15,000 00

$800
500
2 ,6 0 0
3 ,0 0 0
2 ,0 0 0
1,000
2 ,7 0 0
1,200
1,000
2 ,0 0 0
220

31, 1908,

$ 1 0 7,700
7 6,425
215,7 1 8
3 70

.

Average rate

D

ct

Loans on Real
Estate

R ate

T otals

O

oans on

$ 24,762
106,757
25,2 0 0
4 ,518
16,633
1,000

$ 2 0 3,600 00

$17,0 2 0 00

otal

Book Value

legal

Shs.
Bank and Trust Company Stocks
8 E liot National Bank, Boston
5 First National Bank, Boston
2 6 Fourth National Bank, Boston .
3 0 National Bank of Commerce, Boston .
2 0 National Union Bank, Boston
10 New England National Bank, Boston .
27 Second National Bank, Boston .
12 State National Bank, Boston
10 W e b ste r & A tlas N ’ l Bank, Boston
2 0 H ingham National Bank, H ingham
22 Union National Bank, W e y m o u th

T

Estimated
Market Value

.
.
.

Y

ear

,

e x c l u s iv e

Rent
$150 00
.0 2 1 9 of 1 %

d u r in g

.
.

.

for

Y

ear

$ 50,278 35
410
. $67,3 4 2 55
671
.
$7,742 73

2 10 00

of

State

Advertising
$51 85
.0 0 7 6 of 1 %

D

e p o s it

T

a xe s

Other Expenses
$516 29
.0 7 5 7 of 1 %

A

Total
$ 2,575 09
.3 7 7 2 of 1 %

ccounts

N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

86
77
1,349
$473 01

BANK COMMISSIONER

No. 8]

259

South Soituate Savings Bank — Concluded
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Ca sh

on

D

e p o s it

in

B

S t a t is t ic s

ear

.
.

of

L

oans

N o. not exceeding $3,0 0 0 each
3 94
Am ount of same
.
. $ 3 3 6,317 95
N o. of loans on real estate .
360
Average am ount of same
.
$1,111 70
Am ount loaned on real estate
during year
.
.
. $31,387 00
N o. of new real estate loans
made during year .
.
28

$ 24,806 93

anks

Second National Bank, Boston
Rockland Trust Co., Rockland
M

Y

d u r in g

. $12,279 49
. 12,527 4 4

$3,759 68
11,049 41

is c e l l a n e o u s

N um ber of corporators, 3 1 ; trustees, 12
Gross income rec’d during year . $33,8 8 6 72
State ta x (net) paid “
“
.
923 62

D

ate

of

E

x a m in a t io n

Septem ber 4 , 5

,

SOUTH W EYM OUTH SAVINGS BANK, SOUTH W EYMOUTH
President, J o s e p h D

ye r

Clerk of the Corporation, G
Board of Investment:

Joseph

G. W

D

il l is

eo

.

Treasurer, G
E. R eed

, A. B . R a y m o n d , E. J. P
T . L. T i r r e l l , G . L. B a r n e s

ye r

,

eo

it c h e r

.

E. R

, R .

eed

W .

H

u n t

,

Incorporated March 6, 1868. Open for business every business day, except Saturdays,
9 a . m . to 12 m . , 2 to 4 p . m . ; Saturdays, 9 a . m . to 12 m . ; also M ondays, 7 to 8 p . m .
Deposits commence to draw interest the second W edn esday of January, April, July and
October. Dividends are payable the second W ednesd ay of January and July

B

alance

Sh

eet

, O

ctober

31, 1908
L iabilities

A ssets

$185,000 00
Public funds
.
.
.
.
309,397 50
Railroad bonds .
.
.
.
89,625 00
Street railway bonds
9,900 00
Boston Terminal Company bonds .
8,800 00
Telephone company bonds .
22,950 00
Bank and trust company stocks
5.000 00
Loans to counties, cities or towns .
15,000 00
“
“ railroad companies
665 00
“ on bank and trust co. stocks
300 00
“ depositors’ books .
449,906 53
“
“ real estate
178,892 32
“
“ personal security .
3.000 00
Real estate by foreclosure, etc.
Stocks, bonds, etc., taken to secure
1.950 00
indebtedness .
20,932 35
Deposits in banks, on interest
2,756 39
Cash on hand
.
.
.
.

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.$1,207,893 23

.

60,500 00
19,107 53

Interest, rents, etc.
Less current
Expenses .
.

. $17,868 82
.

1,294 49

$1,304,075 09

$1,304,075 09

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or tow ns
Bonds and notes which are not now
investm ents
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value

Schedule o r Securities O wned

.
.
.

$1 7 5 ,0 0 0 00
3 1 6 ,0 0 0 00
85 .0 0 0 00
1 0 .0 0 0
1 0 ,0 0 0

00
00

5,000 00
legal
.

16,574 33

$175,292
291,8 1 5
85,8 5 0
9 ,8 0 0
9 ,0 3 7
5 ,000

50
00
00
00
50
00

B ook

Value

$ 1 7 5,000
309,3 9 7
84 ,6 2 5
9 ,9 0 0
8 ,8 0 0
5 ,000

00
50
00
00
00
00

30 ,0 0 0 00

30 ,1 2 5 00

3 0 ,0 0 0 00

$ 6 3 1,000 00

$606,920 00

$622,722 50

260

REPORT OF THE

[Pub. Doc,

South Weymouth Savings Bank — Concluded

Shs.
30
30
25
13
50
105
30

Estimated
Market Value

Par Value

Schedule op Securities Owned

Bank and Trust Company Stocks
National Bank of Commerce, Boston .
New E ngland National Bank, Boston .
National Bank of the Republic, Boston
Trem ont National Bank, Boston
First National Bank, So. W e y m o u th .
H am pden Trust Co., Springfield
Union National Bank, W eym o u th

$ 3 ,000 00
3 .0 0 0 00
455
5 .000
1 0 ,500
300

$ 4,800
4 ,2 0 0
1,250
13
5 ,000
12,075
165

00
00
00
00

$22,2 5 5 00

T

otal

A

m ount

of

L

oans on

O

31, 1908,

ct.

Loans on Real
Estate

R ate

E

b e a r in g

ach

Loans on Personal
Security

44
4f
5

H

54
6
6f

“
“

“
“

“

“

“

“

“

“

“

“

“

“

T otals

.

$ 40,000
20 ,0 0 0
8 3,892
15.000

$7,500 00

•

172,665 9 4
.
.
.
.

.
.

32,4 0 0 00
237,3 4 0 59

T

otal

and

W

Other Loans

E

00
00
32
00

iv id e n d s

declared

D

e p o s it

n terest

$ 5,000
4 7,500
20 ,0 0 0
271,5 5 8
15.000
3 2 ,4 0 0
2 4 8 ,3 0 5
10.000

00
00
00
26
00
00
59
00

$20,9 6 5 00

$649,763 85

5 .5 5 per cent.

5 .0 3 per cent.

4 .8 1 per cent.

5 .3 8 per cent.

xpen ses

for

Y

ear

,

e x c l u s iv e

Rent
$450 00
.0 3 4 4 of 1 %

d u r in g

Y

State

of

Advertising
$40 50
.0031 of 1 %
D

ear

. $ 1 2 7,416 44
1,592
. $160,905 66
1,698
. $13,131 75
d u r in g

. $23,2 3 7 69
. 2 3,383 28
in

I

Total Loans

15,000 00

e p o s it

B

Y

ear

$46,6 2 0 97

anks

First National Bank, Boston
.
First NT Bank, South W eym o u th

$ 5,868 22
1 5,064 13

T

a xes

Other Expenses
$527 41
.0 4 0 5 of 1 %
A

Total
$ 3,654 58
.2 8 0 0 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“ .
T otal number Oct. 3 1 , 1908 .
Average balance “
“
.
S t a t is t ic s

M

of

$178,892 32

it h d r a w a l s

Jan., 1908, 2 % .
July, 1908, 2 % .
on

ate

$ 4 4 9,906 53

A m ount of deposits .
Num ber of same
Am ount of withdrawals
Num ber of same
N et increase in deposits

Cash

$22,9 5 0 00

965 00

Salaries
A m ount paid for
$2 ,6 3 6 67
% of total assets .2 0 2 0 of 1 %

D

$27,503 00

5 ,000 00
11,550 00

10.000 00
1 0 ,000 00

.

.

e p o s it s

$ 3,000 00
3 ,3 0 0 00
100 00

$ 5,000 00
.

Average rate

D

00
00
00
00
00
00
00

S p e c if ie d R

per cent.

4

Book Value

of

L

207
188
2 ,528
$477 80

oans

N o. not exceeding $ 3 ,0 0 0 each
240
A m ount of same
.
. $ 2 8 6,826 53
N o. of loans on real estate .
272
Average amount of same
.
$ 1 ,6 5 4 06
A m ount loaned on real estate
during year
.
.
. $ 1 2 0,075 00
N o. of new real estate loans
made during year .
.
51

is c e l l a n e o u s

N um ber of corporators, 3 3 ; trustees, 20
Gross income rec’d during year . $62,5 4 0 31
State ta x (net) paid “
“
.
3 ,883 34


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

D

ate

of

E

x a m in a t io n

,

September 9

BANK COMMISSIONER

No. 8]

261

SPENCER SAVINGS BANK, SPENCER
President, J. W . T e m p l e
Clerk of the Corporation, W
Board of Investment: J. W . T

em ple

,

Treasurer, W
Y. P

alter

N . E . C r a i g , M. A . Y

V. P

alter

rou ty

routy

oung

,

C. H . A

llen

E . M. K

,

an e

Incorporated April 5, 1871. Open for business every business, day, except Saturdays,
9 a . m . to 12 m ., 1 to 4 p . m . ; Saturdays, 8 a . m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fourth day of January and July

B

alance

Sh

, O

eet

ctober

31,

1908

A ssets

L iabilities

$165,400 00
Public funds
.
.
.
.
Railroad bonds .
.
.
. 407,342 21
29,500 00
Street railway bonds
Telephone company bonds
17,500 00
5,800 00
Bank and trust company stocks
27,400 00
Loans to counties, cities or towns .
“
“ railroad companies
14,825 00
2,600 00
“
on bank and trust co. stocks
“
“ real estate
392,915 20
“
“ personal security
63,675 00
17,988 24
Bank building and fixtures .
972 56
Real estate by foreclosure, etc.
4,210 00
“
“
in possession
6,111 50
Premiums .
.
.
.
.
4,326 11
Deposit in bank, on interest .
266 87
Cash on hand
.
.
.
.
Checks and cash items
51 12

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$1,083,920 25
54,943 00
7,723 95

Interest, rents, etc.
Less current
Expenses .
.

. $14,983 01
.

«686 40

$1,160,883 81

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

.
.
.

$ 1 4 7,400
3 6 6 ,0 0 0
14,000
20 ,0 0 0
27 ,4 0 0

legal
.

Shs.
Bank and Trust Company Stocks
58 Spencer National Bank, Spencer

T

otal

A

m ount op

L

oans on

H
5

5*

6

“
“

“

■

.

“

“

•

“

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

31, 1908,

.
.

3 2 5 ,2 3 5 20
1 1,300 00
1 ,380 00

$147,492
346,162
13,930
18,075
27 ,4 0 0

00
00
00
00
00

Book Value

50
50
00
00
00

$ 1 4 7,400
361,979
14,000
17,500
27 ,4 0 0

00
71
00
00
00

9 7 ,5 0 0 00

95 ,5 4 5 00

9 3,687 50

$ 6 7 2,300 00

$ 6 4 8,605 00

$661,967 21

$ 5,800 00

$ 8 ,410 00

$ 5,800 00

b e a r in g

E

ach

Loans on Personal
Security

S p e c if ie d R

Other Loans

$27,4 0 0 00
2 ,6 0 0 00

$55,0 0 0 00

•

“

T otals

ct.

Loans on Real
Estate

R ate

4 per cent.
4* “
“

O

$1,160,883 81

Par Value

Schedule of Securities Owned

14,296 61

$ 10,000
1 5,100
2 0 ,0 7 5
1 8,500

00
00
00
00

14,825 00

ate

of

I

nterest

Total Loans

$27,4 0 0
5 7,600
10,000
3 5 5 ,1 6 0
31 ,3 7 5
19,880

00
00
00
20
00
00

$ 3 9 2,915 20

$63,6 7 5 00

$44,8 2 5 00

$501,4 1 5 20

4 .9 5 per cent.

5 .4 0 per cent.

4 .3 5 per cent.

4 .9 5 per cent.

[Pub. Doc.

REPORT OF THE

262

Spencer Savings Bank — Concluded
T

otal

E

xpen ses

for

Y

e a r

, E X C L U S IV E

D

e p o s it s

and

W

it h d r a w a l s

.
.
.
.
.

d u r in g

Y

B

ear

. $ 1 3 2,315 31
.
2 ,556
. $189,919 9 4
.
3 ,0 9 8
. $ 1 5 ,5 9 4 22

iv id e n d s

declared

Cash

on

D

d u r in g

Y

. $21,0 4 6 25
. 2 0 ,9 6 4 16

e p o s it

B

in

$ 42,010 41

$4 ,3 2 6 11

is c e l l a n e o u s

ate

of

E

x a m in a t io n

,

u il d in g

A

and

.

F

.
.
.
.

.
.

$1,791 53
.1 5 4 3 of 1 %

ix t u r e s

.
.
.
.

$17,988
2 0 ,0 0 0
18,000
523

24
00
00
68

ccounts

321
496
3,563
$304 21

an k

N um ber of corporators, 3 9 ; trustees, 10
Gross income rec’d during year . $ 5 1 ,8 6 5 10
State ta x (net) paid “
“
.
3 ,239 83
D

e p o s it

Total

$437 03
.0 3 7 6 of 1 %

N um ber opened during year
N um ber closed
“
“
T otal num ber O ct. 31, 1908 .
Average balance “
“
.

ear

Spencer National Bank, Spencer .
M

B

an k

TAXES

Other Expenses

B ook value
Estim ated value
Assessed value
N et income
D

D

Jan., 1908, 2 % .
July, 1908, 2 % .

STATE

$4 50
.0 0 0 4 of 1 %

A m ount paid for
$1,3 5 0 00
% of total assets .1 1 6 3 of 1 %

A m ount of deposits
.
N um ber of same
.
A m ount of withdrawals
N um ber of same
.
N et decrease in deposits

OF

Advertising

Rent

Salaries

March 27

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3 ,0 0 0 each
209
A m ount of same
.
. $ 2 5 2,802 92
N o. of loans on real estate .
225
Average am ount of same
.
$1,7 4 6 29
A m ount loaned on real estate
during year
.
.
. $ 3 9 ,7 0 0 00
N o. of new real estate loans
m ade during year .
.
6

SPRINGFIELD FIVE CENTS SAVINGS BANK, SPRINGFIELD
President, R

O. M o r r i s
Clerk of the Corporation, H

Treasurer, D

obert

Board of Investment: O l i v e r M

arsh

, N

en ry

e w r ie

D. M

D. W

a n ie l

J. M a r s h

arsh

in t e r

, W

il l ia m

H . G

ray

Incorporated April 27, 1854. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m . ; also M ondays, 7 to 9 p . m .
Deposits commence to draw interest the fifteenth day of January, April, July and October
Dividends are payable the twentieth day of January and July

B

A

alance

Sh

ee t

ctober

31, 1908
L

ssets

. $614,000
Public funds
.1,422,500
Railroad bonds .
. 250,000
Street railway bonds
Boston Terminal Company bonds . 250,000
40,000
Loans to counties, cities or towns .
3,000
“
on railroad bonds
“
“ street railway bonds
2.000
25,000
“
“ Boston Terminal bonds .
.
15.250
“
“ railroad stocks
“
“ bank and trust co. stocks
32,775
1,218
“
“ depositors’ books .
.3,374,918
“
“ real estate
.1,135,900
“
“ personal security .
. 116,000
Bank building and fixtures .
3,000
Real estate by foreclosure, etc,
. 323,624
Deposits in banks, on interest
.
39,520
Cash on hand


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

, O

00
00
00
00
00
00
00
00
.00
00
00
20
00
00
00
12
75

$7,648,706 07

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.

ia b il it ie s

.

.

.-17,277,344 38
.
,

318,000 00
34,509 01

18,852 68

$7,648,706 07

263

BANK COMMISSIONER

No. 8]

Springfield. Five Cents Savings Bank — Concluded

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
.
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

T

otal

A

m ount op

L

oans on

4% per cent.
4f “
“

5

“

“

“

"

“

“

“

“

5Ì
6

Totals

ct.

.

-

.
.
.
.

.
.
•
•

.

T

otal

E

and

W

45 ,5 0 0 00

$2,6 1 4 ,0 0 0 00

$2,574,769 00

$ 2 ,5 7 6 ,5 0 0 00

b e a r in g

Cash

on

D

e p o s it

Loans on Personal
Security
$14,0 0 0
6 ,200
9 6 0 ,3 3 0
2 3 ,0 0 0
108,2 0 0
2 4 ,1 7 0

n terest

$ 9 2 5,795
75 ,2 0 0
3 ,4 5 8 ,1 9 6
2 3 ,0 0 0
123,7 0 0
2 4 ,1 7 0

$50,0 0 0 00
53,743 00
1 5 ,500 00

00
00
20
00
00
00

$119,243 00

$ 4,630,061 20
4 .9 5 per cent.

for

Y

e a r

,

e x c l u s iv e

d u r in g

Y

B

ear

$ 1 ,3 2 6 ,2 6 0 47
22,967
$1,4 7 0 ,5 5 6 93
18,249
. $128,478 53
d u r in g

Y

B

State

of

ear

an k

B

T

a xes

Other Expenses
$ 4,458 55
.0 5 8 2 of 1 %

Advertising
$681 10
.0 0 8 9 of 1 %

Rent
-

u il d in g

F

and

A

ix t u r e s

. $11 6 ,0 0 0
. 1 75,000
. 160,100
1,362

B ook value
Estim ated value
Assessed value .
N et income
e p o s it

Total
$19,153 39
.2 5 0 3 of 1 %

00
00
00
65

ccounts

Num ber opened during year
N um ber closed
“
T otal num ber O ct. 3 1 , 1908 .
Average balance “
“

3 ,125
3 ,056
19,720
$369 03

an ks

$15,000 00
7 6,304 47
99,7 9 4 71
3 7,964 47
94,5 6 0 47

is c e l l a n e o u s

N um ber of corporators, 3 5 ; trustees, 15
Gross income rec’d during year . $341,861 02
State ta x (net) paid “
■ 20,321 32


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

I

Total Loans

Other Loans

00
00
00
00
00
00

of

4 .8 5 per cent.

Lee National Bank, Lee
Chicopee N ’l Bank, Springfield .
Springfield N ’l B ’k, Springfield .
Springfield Safe Deposit & Trust
Company, Springfield
U nion Trust Co., Springfield
M

ate

5 .0 6 per cent.

$135,905 50
. 136,869 49 $ 2 7 2,774 99
in

S p e c if ie d R

ach

$ 1 ,1 3 5 ,9 0 0 00

it h d r a w a l s

Jan., 1908, 2 % .
July, 1908, 2 % .

E

4 .8 6 per cent.

xpen ses

declared

00
00
00
00
00

47 ,5 0 0 00

D
iv id e n d s

$6 1 4 ,0 0 0
1,377 ,0 0 0
2 5 0 .0 0 0
2 5 0 .0 0 0
40 ,0 0 0

00
00
00
00
00

$3,3 7 4 ,9 1 8 20

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits
D

$62 1 ,0 4 0
1,373 ,9 2 5
2 4 6 ,5 0 0
2 4 5 ,0 0 0
4 0 ,8 0 4

00
00
00
00
00

Book Value

50 .0 0 0 00

3 1 , 1908,

Salaries
Am ount paid for
$14,013 74
% of total assets .1 8 3 2 of 1 %

e p o s it s

legal
.

$861,795 00
6 9,000 00
2 ,4 4 4,123 20

Average rate

D

$6 1 4 ,0 0 0
1 ,4 1 0 ,0 0 0
2 5 0 .0 0 0
2 5 0 .0 0 0
4 0 .0 0 0

.
.
.

Loans on Real
Estate

R ate

5i

O

Estimated
Market Value

Par Value

Schedule of Securities Owned

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3 ,0 0 0 each
562
A m ount of same
.
. $ 9 1 1,705 00
N o. of loans on real estate .
767
Average am ount of same
.
$4 ,4 0 0 15
A m ount loaned on real estate
during year
.
.
■ $ 5 9 0,698 20
N o. of new real estate loans
m ade during year .
.
141
D

ate

of

E

x a m in a t io n

,

July 9, 10

264

REPORT OF THE

[Pub. Doc

SPRINGFIELD INSTITUTION FOR SAVINGS, SPRINGFIELD
President, W

N. C a l d w e l l
Treasurer, J o s e p h S h a t t u c k , Jr.
Clerk of the Corporation, J o s e p h S h a t t u c k , Jr.

in f o r d

Board of Investment: A . W . D
Jo seph

Sh

a ik o n ,

F

attuck

r e d e r ic k

H

a r r is

Jr., ¡-A r t h u r B . W

,

, Jam

es

W. K

ir k h a m

,

est

Incorporated June 16, 1827. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m . ; also M ondays, 7 to 9 p . m .
Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the first d ay of January and July

B

A ssets

alance

Sh

eet

, O

ctober

31, 1 9 0 8

\

Public funds
.
.
.
.
$747,000
Railroad bonds .
.
.
.4,723,610
Street railway bonds .
.
. 423,000
Telephone company bonds
.
.
45,250
Bank and trust company stocks . 459,316
Loans to counties, cities or towns .
53,000
“
“ railroad companies
. 100,000
on railroad bonds
.
.
7,700
railroad stocks
.
.
43,850
“
“ bank and trust co. stocks
22,100
“ depositors’ books
.
.
7,050
“ real estate
.
.
.8,861,940
“
“ personal security
.
.2,154,550
Bank building and fixtures
. 280,000
Taxes, insurance, etc., paid on
mortgaged properties
.
.
2
Deposits in banks, on interest
. 156,077
Cash on hand
.
.
.
.
23,757
Checks and cash items
.
.
3,125

00
25

00
00
00

L iabilities

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.
.
.

$17,009,537 61
.
.

.
.

877,300 00
98,160 82

Interest, rents, etc.
$142,869 28
Less current
Expenses . $12,658 50
Taxes
.
3,880 00 16,538 50

126,330 78

00

00

00
00
00
00

00
00

00
97
21
41
37

$18,111,329 21

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.

Shs.
30
125
200
150
30
150
25
50
530
43
70
72
75
50

Estimated
Market Value

Par Value
.
.
.

legal
.

Bank and Trust Company Stocks
First National Bank, Adam s
First National Bank, Boston
Second National Bank, Boston
Atlantic National Bank, Boston
Eliot National Bank, Boston
Merchants National Bank, Boston
M t. Vernon National Bank, Boston
National Bank of Commerce, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Old Boston National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas NT Bank, Boston


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$18,111,329 21

$747,000
4,7 1 6 ,0 0 0
423,000
50,000
53,000

00
00
00
00
00

$737,740
4 ,465,385
424 840
45,187
53,000

00
00
00
50
00

Book Value

$747,000
4 ,6 7 3,610
423,000
4 5,250
53,000

00
25
00
00
00

150,000 00

150,000 00

150,000 00

$ 6 ,1 39,000 00

$5,876,152 50

$ 6,091,860 25

$3,000
12,500
2 0,000
15,000
3 ,000
15,000
2,112
5,000
53,000
4 ,300
7 ,000
7 ,200
2 ,625
5,000

$ 3,450
3 9,250
4 3,000
21 ,0 0 0
5,850
3 2,550
550
8 ,000
153,700
6,880
7,770
10,440
75
7 ,250

$ 3,000
12,500
2 0,000
18,000
3 ,000
19,000

00
00
00
00
00
00

5,000
7 9,500
4 ,300
7 ,000
7,200

00
00
00
00
00

00
00
00
00
00
00
50
00
00
00
00
00
00
00

00
00
00
00
00
00
00
00
00
00
00
00
00
00

5,000 00

No. 8]

BANK COMMISSIONER

265

Springfield Institution for Savings — Continued
Schedule of Securities Owned

Shs.
50
20 0
60
50
50
15
50
70
100
44
402
216
350
125
3 00
25
25
40

Par Value

Bank and Trust Company Stocks
— Concluded
W achusett National Bank, Fitchburg
City National Bank, H olyoke .
H adley Falls National B ’k, H olyoke .
H olyoke National Bank, H olyoke
Leominster National B ’k, Leominster
Lee National Bank, Lee .
Hampshire Co. N ’l B ’k, Northam pton
Northam pton N ’l B ’k, Northam pton .
Palmer National Bank, Palmer
Pittsfield National Bank, Pittsfield .
Third National Bank, Springfield
Chapin National Bank, Springfield
Chicopee National Bank, Springfield .
Springfield N ’l Bank, Springfield
Springfield S. D. & T . Co., Springfield .
First National Bank, W estfield
H am pden National Bank, W estfield .
W are National Bank, W are

$5,000
20,000
6,000
5,000
5,000
1,500
5,000
7,000
10,000
4,400
40,200
2 1 ,600
3 5 ,000
12,500
3 0 ,000
2,500
2 ,500
4 ,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$371,937 50

Estimated
Market Value

Book Value

$ 4 ,750
24 ,0 0 0
8 ,280
9 ,0 0 0
6,500
2,475
5,150
14,000
10,000
7,040
80,400
21 ,6 0 0
5 2 ,500
26 ,2 5 0
60,000
3,375
4 ,000
4 ,400

$ 5,000
2 1,500
8 ,500
6,000
5,000
1,500
5,000
13,000
10,000
5,000
66,000
2 4,616
4 7,500
15,000
3 2,700
3,000
2 ,500
4,000

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$683,485 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$459,316 00

T o t a l , A m o u n t o f L o a n s o n O c t . 31, 1908, b e a r i n g E a c h S p e c i f i e d R a t e o f I n t e r e s t

Loans on Real
Estate

Rate

3?f per cent.
3f “
“
4
“
“
4i “
“
4| “
“
4* “
“
4f “
«
5
“
“
5i «
“
5* “
“
5f “
«
6
“
“
T otals

•
.
•
•
.
.
.
■
.
.

•
.
.

.
.

_

_

—

—

$572,000
105,000
15,000
3 ,3 3 2 ,4 5 0
738,150
4,0 6 4 ,3 4 0

00
00
00
00
00
00
-

35,0 0 0 00
.

-

-

..

Average rate

T otal

Loans on Personal
Security

—

—

-

-

00
00
00
00
00
00
00

—

180,700 00
-

-

00
00
00
00
00
00
00
00
00
00
00
00

$233,7 0 0 00

$ 1 1 ,2 5 0 ,1 9 0 00

4 .7 1 per cent.

5 .0 5 per cent.

4 .6 7 per cent.

4 .7 8 per cent.

for

Y e a r , exclusive

Rent
$ 3,748 67
.0 2 0 6 of 1 %

D eposits a n d W i t h d r a w a l s d u r i n g Y e a r

A m ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$44,000
9 ,0 0 0
572,000
105,000
15,000
3 ,5 5 2 ,4 5 0
969,7 5 0
5,4 5 7 ,9 9 0
100,000
285,0 0 0
4 0,000
100,000

-

$2,1 5 4 ,5 5 0 00

E xpenses

D ividends decl a r e d

$44,0 0 0 00
9 ,0 0 0 00

-

$220,000
231,6 0 0
1 ,212,950
100,000
250,0 0 0
4 0,000
100,000

Total Loans

$ 8 ,8 6 1 ,9 4 0 00

Salaries
Am ount paid for
$ 31,158 37
% of total assets . 1720 of 1 %

Jan., 1908, 2 % .
July, 1908, 2 % .

Other Loans

$3,2 1 2 ,6 3 8 40
53,070
$3,633,551 64
43,972
. $218,463 21
during

Y ear

$318,618 47
. 3 20,757 98 $639,376 45

of

Advertising
$2,018 11
0111 of 1 %
B ank

St a t e

T axes

Other Expenses
$7,819 25
.0 431 of 1 %

B uilding a n d

Book value
.
Estim ated value
Assessed value .

.
.
.

Total
$44,7 4 4 40
.2 4 6 8 of 1 %

F ixtures

. $2 8 0 ,0 0 0 00
. 2 8 0 ,0 0 0 00
. 2 4 9 ,7 0 0 00

D eposit A c c ou n t s

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

6,876
6,262
4 5 ,2 4 7
$375 92

266

R E PO R T OF TH E

[Pub. Doc,

Springfield Institution for Savings — Concluded
Cash

o n

D eposit in B a n k s

Statistics o f

National Shawmut B ’k, Boston .
Chapin N ’l Bank, Springfield
.
Chicopee N ’l Bank, Springfield .
Pynchon N ’l Bank, Springfield
.
Springfield Safe Deposit & Trust
Company, Springfield
.
.
Third N ’l Bank, Springfield
.
U nion Trust Co., Springfield
.

L oans

$15,918
14,450
61,810
686

78 No. not exceeding $ 3,000 each
1,249
21 A m ount of same
.
$1,8 4 8 ,0 4 0 00
99
N o. of loans on real estate .
1,549
2 4 * Average amount of same .
$5,721 07
A m ount loaned on real estate
18,947 47
during year
.
.
$2,0 8 2 ,3 4 0 00
2 3,295 97 N o. of new real estate loans
2 0,967 55
made during year .
.
300

M iscellaneous

D ate

of

N um ber of corporators, 5 8 ; trustees, 11
Gross income rec’d during year . $777,529 46
State ta x (net) paid “
“
.
45,879 57

E x a m i n a t i o n , October 15, 16

* In liquidation.

STONEHAM FIVE CENTS SAVINGS BANK, STONEHAM
President, V

m.

B. S t e v e n s
Clerk of the Corporation, F

Board of Investment: W

m.

r e d

Treasurer, F r e d . E . N i c k e r s o n
. E. N i c k e r s o n

B. S t e v e n s , C h a s . A . B
D a v i d T. St r a n g e

ailey

, Is a a c

Sw a s e y ,

Incorporated March 28, 1855. Open for business every business day, except Saturdays,
8 .3 0 to 11 a .m ., 2 .3 0 to 4 p .m .; Saturdays, 8 .3 0 a .m .to 12 m .; also Tuesdays, 6 to 8 p .m .
Deposits commence to draw interest the first Saturday after the first W ed nesd ay of
February, M ay, August and Novem ber. Dividends are payable the first W ednesdav
of M ay and N ovem ber

B alance

S h e e t , O c t o b e r 3 1 , 1908

A ssets

Public funds
.
.
.
. $128,880 00
Railroad bonds .
.
.
. 361,182 50
Street railway bonds
79,400 00
Boston Terminal Company bonds .
10,000 00
Telephone company bonds
9,725 00
Bank and trust company stocks
6,000 00
Loans on railroad bonds
15,000 00
“
“ real estate
$295,506 00
Less, due on mtg. loans
95 00 295,411 00
Loans on personal security .
1,300 00
Real estate by foreclosure, etc.
27,252 24
Deposits in banks, on interest
18,175 10
Cash on hand
.
.
.
.
3,119 69

L iabilities

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

$885,107 68
45,352 88
8,353 06

Interest, rents, etc.
. $19,510 83
Less current
Expenses . $1,455 97
Taxes
. 1,422 95
2,878 92

$955,445 53

Schedule of Secubities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Telephone com pany bonds
Bonds and notes which are not now
investments
.
.
.
.

$114,000
3 6 6 ,0 0 0
80 ,0 0 0
10,000
11,000

legal
.

Shs.
Bank and Trust Company Stocks
60 Stoneham National Bank, Stoneham


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$955,445 53

Par Value
.
.
.

.

16,631 91

00
00
00
00
00

Estimated
Market Value
$ 1 1 4,405
344,9 6 7
80 ,8 5 0
9 ,8 0 0
9,941

00
50
00
00
25

Book Value

$113,8 8 0
3 61,182
79 ,4 0 0
10,000
9 ,7 2 5

00
50
00
00
00

1 5,000 00

15,000 00

15,000 00

$596,0 0 0 00

$574,963 75

$589,187 50

$6 ,0 0 0 00

$ 6,000 00

$6 ,0 0 0 00

No. 8]

267

BANK COMMISSIONER
Stoneham Five Cents Savings Bank —

C oncluded

T o t a l A m o u n t o f L o a n s o n O c t . 31, 1908, b e a r i n g B a c h S p e c i f i e d R a t e o f I n t e r e s t

Loans on Real
Estate

R ate

4 per cent.
“B
4f

5
5i
6

7

“
“
“
“
“
“

T otals

“
“
“
“
“
“

.
.

$ 5,000
5 1,000
9 ,0 0 0
168,926
4 ,9 2 5
5 6,260
300

.

.
■
.
.

.
.

.

Average rate

T otal

Loans on Personal
Security

00
00
00
00
00
00
00

Other Loans

$15,0 0 0 00
$1 ,3 0 0 00

$ 15,000 00

$311,711 00

5 .0 8 per cent.

6 .0 0 per cent.

5 .0 0 per cent.

5 .0 8 per cent.

E xpenses

for

Y e a r , exclusive

Rent
$350 00
.0 3 6 6 of 1 %

$168,698 06
3 ,9 1 4
$208,557 98
3 ,470
$ 8,305 42

of

Advertising

St a t e

o n

. $16,859 42
. 14,695 08

Y ear

$31,5 5 4 50

D eposit in B a n k s

First National Bank, Boston
Stoneham N ’l Bank, Stoneham

.
.

$ 4,000 00
14,175 10

Total
$3,025’ 75
.3 1 6 6 of 1 %

N um ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.
Statistics o f

during

T axes

Other Expenses
$75 75
.0 0 7 9 of 1 %

D eposit A ccou n t s

D eposits a n d W i t h d r a w a l s d u r i n g Y e a r

Cash

00
00
00
00
00
00
00

$1 ,3 0 0 00

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits

N o v ., 1907, 2 %
M ay, 1908, l f %

$5 ,0 0 0
51 ,0 0 0
9 ,0 0 0
183,926
4 ,9 2 5
5 7,560
3 00

$295,411 00

Salaries
A m ount paid for
$ 2,600 00
% of total assets .2 721 of 1 %

D ividends d e c l a r e d

Total Loans

367
267
3,891
$227 47

L oans

N o. not exceeding $ 3 ,0 0 0 each
200
Am ount of same
.
. $ 1 9 7 ,3 0 6 00
N o. of loans on real estate .
211
Average amount of same
.
$1 ,4 0 0 05
A m ount loaned on real estate
during year
.
.
. $11,8 0 0 00
N o. of new real estate loans
m ade during year .
.
11

M iscellaneous

Num ber of corporators, 2 1 ; trustees, 16
Gross income rec’d during year
. $39,227 98
State ta x (net) paid “
“
.
2 ,8 3 7 07

D ate

of

E x a m i n a t i o n , N ovem ber 18

SUFFOLK SAVINGS BANK FOR SEAMEN AND OTHERS,
BOSTON
President, F

rancis

L. H i g g i n s o n

Clerk of the Corporation, L

ewis

Treasurer, L
R. T u c k e r

Board of Investment: F r a n c i s L. H i g g i n s o n , A u g u s t u s P. L
J a m e s R . H o o p e r , J o h n P. L y m a n , T h o m a s M o t l e y , R
Incorporated March 7, 1833.

ewis

oring
obert

R. T

u c k e r

, T h o m a s P. B e a l ,
T . P a i n e , 2d

Open for business every business day, 9

a .m

. to 2 p .m .

Deposits commence to draw interest the second W ednesday of January, April, July and
October. Dividends are payable the third W ednesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

R E PO R T OF THE

268

[Pub. Doc.

Suffolk Savings Bank for Seamen and Others, Boston — Continued
B

Sh

alance

eet

, O

31,

ctober

1908

L iabilities

A ssets

Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Telephone company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
“
on real estate
“
“ personal security
Bank building and fixtures .
Old bank building
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand

$3,090,000
.7,400,905
. 500,000
.3,200,000
. 180,656
. 151,500
. 379,000
. 600,000
12,854,719
.6,792,000
.1,000,000
. 238,316
2,385
.1,211,481
. 257,282

00
00
00
00
25
00
00
00
00
00
00
27
17
15
51

$35,923,788 70

Deposits .
Surplus:
Guaranty fund
Profit and loss

1,784,898 00
79,915 79

Interest, rents, etc.
Less current
Expenses .

. $73,520 97
.

$37,858,245 35

$37,858,245 35

Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Com pany bonds
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investm ents
.
.
.
.

.
.
.

69,642 86

3,878 11

$3,0 9 0 ,0 0 0
7 ,4 6 1 ,0 0 0
5 00,000
3 ,2 0 0 ,0 0 0
200,0 0 0
379,0 0 0
100,000

00
00
00
00
00
00
00

$3,0 2 9 ,0 7 5
7,3 5 2 ,5 7 5
498,5 0 0
3 ,1 3 6 ,0 0 0
180,750
379,0 0 0
100,000

Book Value

00
00
00
00
00
00
00

$3,0 9 0 ,0 0 0
7,400 ,9 0 5
500,000
3 ,2 0 0 ,0 0 0
180,656
3 79,000
100,000

00
00
00
00
25
00
00

legal
500,0 0 0 00

.

500,000 00

5 04,000 00

$ 1 5 ,4 3 0 ,0 0 0 00 $ 1 5 ,1 7 9 ,9 0 0 00 $15,350,561 25
Shs.

658
169
100
170
93
417

Bank and Trust Company Stocks
Merchants National Bank, Boston
National B ank of Commerce, Boston .
National Union Bank, Boston .
State National Bank, Boston
Trem ont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston

$65,800
16,900
10,000
17,000
3 ,255
41 ,7 0 0

00
00
00
00
00
00

$154,655 00

T

otal

A

m ount of

L

oans

O

ct.

31, 1908,

Loans on Real
Estate

Rate

3 per cent.
3i “
“
H
“
“
3f “
“
3£ “
“
4
u
“
4i “
“
4f “
»
“
“
4f “
“
4f “
“

on

b e a r in g

E

Loans on Personal
Security

ach

$ 1 4 2,786
27 ,0 4 0
16,000
2 4,650
93
60,465

S p e c if ie d R

.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.
.

$ 1 ,7 5 0 ,0 0 0
3 ,4 3 6 ,3 0 0
1,196 ,0 0 0
7 0,000
3 ,4 8 9 ,0 0 0
9 2 2 ,0 0 0

.

00
00
00
00
00
00
-

1 ,0 0 0 ,7 0 0 00
—

182,000 00

-

-

40 ,0 0 0 00

—

—

-

$ 1 0 0,000 00
1,3 0 0 ,0 0 0 00
-

2 ,8 0 3 ,5 0 0 00
175,000 00
220,0 0 0 00

39 ,0 0 0
7 5,000
45 ,0 0 0
85 ,0 0 0

ate

of

I

n terest

Total Loans

Other Loans

-

00
00
00
00
00
00

$151,500 00

$ 2 7 1,034 00

$45,0 0 0 00
.
■
.
.

$65,800
16,900
10,000
17,000
100
4 1 ,700

00
00
00
00
00
00

00
00
00
00
-

—

$45,0 0 0
1,7 5 0 ,0 0 0
3 ,4 7 6 ,3 0 0
1 ,1 9 6,000
70,0 0 0
3 ,6 2 8 ,0 0 0
2 ,2 9 7 ,0 0 0
4 5 ,0 0 0
3 ,8 8 9 ,2 0 0
175,000
4 0 2 ,0 0 0

00
00
00
00
00
00
00
00
00
00
00

No. 8]

BANK COMMISSIONER

269

Suffolk Savings Bank for Seamen and Others, Boston — Concluded
T o t a l A m o u n t o f L o a n s o n O c t . 31, 190S, b e a r i n g E a c h S p e c i f i e d R a t e o f In t e r e s t

— Concluded
Loans on Real
Estate

R ate

5 per cent.
5i “
“
5i “
“
5i “
“
6
“
“
6i “
“
6* “
“
6| “
“
T otals

Loans on Personal
Security

$807,219 00
.
.
.

.
1,500 00
.

•

.
.

.
.

.

Average rate

T otal

$54 6 ,5 0 0
100,000
420.0 0 0
25.0 0 0
2 2 5 .0 0 0
5 0.000
100.000
727,0 0 0

Cash

o n

$1,6 5 3 ,7 1 9
3 0 0 .0 0 0
421,5 0 0
25 .0 0 0
3 7 5 .0 0 0
5 0.000
100.000
727,000

150,000 00

00
00
00
00
00
00
00
00

$ 6 ,7 9 2 ,0 0 0 00

$9 7 9 ,0 0 0 00

$ 2 0 ,625,719 00

4 .9 1 per cent.

4 .8 8 per cent.

4 .2 6 per cent.

E xpenses

D ividends d e cl a r e d

$300,0 0 0 00
200,0 0 0 00

3 .8 7 per cent.

for

Y ear, exclusive

Rent
$15,582 00
.0411 of 1 %

.

during

$ 5 ,8 83,942 48
67,770
$ 6 ,6 65,468 85
68,061
. $551,742 09
Y ear

$6 6 2 ,7 7 4 56
670,493 9 0 $1,3 3 3 ,2 6 8 46

B ank

St a t e

T axes

Other Expenses
$8,608 28
.0 2 2 8 of 1 %

B uilding a n d

Book value
.
Estim ated value
Assessed value .

Total
$ 68,374 45
.1 8 0 5 of 1 %

F ixtures

.
.
.

$1,0 0 0 ,0 0 0 00
1,000 ,0 0 0 00
. 9 8 0 ,0 0 0 00

D eposit A ccou n t s

Num ber opened during year
N um ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

D eposit in B a n k s

City Trust Co., Boston
.
. $194,029 35
First National Bank, Boston
. 114,511 52
Merchants National B ’k, Boston . 148,228 53
National Union Bank, Boston
. 145,007 28
N ew England N ’l Bank, Boston . 2 0 0 ,7 9 4 08
Second National Bank, Boston . 205,047 53
W ebster & Atlas N ’l Bank, Boston 2 03,862 86

of

Advertising
$169 2 0
.0 0 0 4 of 1 %

D eposits a n d W i t h d r a w a l s d u r i n g Y e a r

April, 1908, 2 %
O ct., 1 9 0 8 ,2 %

00
00
00
00
00
00
00
00

Total Loans

$ 1 2 ,854,719 00

Salaries
A m ount paid for
$44,0 1 4 97
% of total assets .1 1 6 2 of 1 %

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

Other Loans

Statistics o f

9 ,397
7,948
77,261
$464 97

L oans

N o. not exceeding $ 3,000 each
52
A m ount of same
.
. $112,2 5 2 00
N o. of loans on real estate .
321
Average amount of same
. $ 40,045 85
Am ount loaned on real estate
during year
.
.
. $864,4 5 0 00
N o. of new real estate loans
m ade during year .
.
29

M iscellaneous

N um ber of corporators, 1 3 5 ; trustees, 37
Gross income rec’d during year $1,547,161 70
State ta x (net) paid “
“
.
9 1,409 57

D ate

of

E x a m i n a t i o n , January 21, 22

SUMNER SAVINGS BANK, EAST BOSTON
President, G

e o

.W.

Treasurer, W

H argrave

Clerk of the Corporation, W

m

m . I. C a l h o u n

. I. C a l h o u n

Board of Investment:

G e o . W . H a r g r a v e , T h o m a s F. C r o a k , F r a n k C. W o o d ,
C h r i s t i a n R a u s c h , T h o m a s A r t h u r , R i c h a r d F. K e o u g h , A n d r e w P. F i s h e r

Incorporated March 11, 1897. Open for business every business day, 9 a .m . to 2 p .m .; also
Saturdays, 7 to 9 p .m .; during June, July, August and September, close Saturdays
at 1 p .m .
Deposits commence to draw interest the second W ednesday of February, M ay, A ugust
and Novem ber. Dividends are payable the third W ednesd ay of M ay and N ovem ber


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

270

R E PO R T OF TH E

[Pub. Doc.

Sumner Savings Bank — Continued
B alance

31, 1908

Sh e e t , O c t o b e r

A ssets

L ia b il it ie s

Public funds
’.
.
.
. $39,000 00
Deposits .
.
.
.
$811,444 59
Railroad bonds .
132,012 50
Surplus:
Street railway bonds .
. ■
19,650 00
Guaranty fund
11,000 00
Boston Terminal Company bonds .
3,000 00
Profit and loss
3,600 47
Bank and trust company stocks
2.500 00
Loans on bank and trust co. stocks
7.500 00
“ real estate
570,795 61*
“
personal security
45,150 00
Interest, rents, etc.
. $10,694 08
Taxes, insurance, etc., paid on
Less current
mortgaged properties
30 00
Expenses . $1,946 25
Deposit in bank, on interest .
11,064 24
Taxes
.
551 49
2,497 74
8,196 34
Cash on hand
.
.
.
.
3,539 05
$834,241 40

$834,241 40

* This amount, in excess of the legal limit, has since been reduced.

S chedule o r Securities O wned

Par Value

Public funds
Railroad bonds
Street railway bonds
Boston Terminal Com pany bonds

$ 39,000
135,000
20 ,0 0 0
3 ,0 0 0

Shs.
Bank and Trust Com pany Stocks
2 5 Columbia Trust Co., E ast Boston

T

otal

A

L

m ount of

O

oans on

ct

. 31, 1908,

Loans on Real
Estate

R ate

$38,062
123,360
19,900
2 ,9 4 0

$39,000
132,012
19,650
3 '0 0 0

50
00
00
00

“

“

.

“

“

.

“

“

6

“

»

.
.

$193,662 50

$2,500 00

$ 3,000 00

$ 2,500 00

E

ach

Loans on Personal
Security

S p e c if ie d R

ate

of

Other Loans

T

E

17,150 00

$3 ,0 0 0 00
4 ,5 0 0 00

$5 7 0 ,7 9 5 61

$45,1 5 0 00

$7,5 0 0 00

$ 6 2 3,445 61

5 .1 2 per cent.

5 .3 6 per cent.

5 .8 0 per cent.

5 .1 5 per cent.

xpen ses

Salaries
Am ount paid for
$2 ,3 3 0 00
% of total assets .2 7 9 2 of 1 %
and

W

for

Y


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.
.
.
.

e a r

,

e x c l u s iv e

Rent
$420 00
.0 5 0 3 o f 1 %

it h d r a w a l s d u r in g

Am ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et increase in deposits

00
00
00
00
61

3 6 ,7 0 0 00
5 5 ,097 61

.
.

otal

n terest

$ 1 5 ,0 0 0
478,998
13,000
3 9 ,7 0 0
7 6,747

1 3,000 00

Totals, .

I

Total Loans

$478,998 00

Average rate,

00
50
00
00

$184,262 50

$15,0 0 0 00

5
5Ì
5Ì

e p o s it s

Book Value

$197,0 0 0 00

b e a r in g

4 f per cent.

D

00
00
00
00

Estimated
Market Value

Y

ear

. $243,283 36
.
3 ,136
. $258,643 34
.
3,169
. $13,6 3 7 30

of

Sta

Advertising
$177 00
.0 2 1 2 of 1 %
D

e p o s it

te

T

a xe s

Other Expenses
$ 9 4 2 51
.1 1 2 9 o f 1 %
A

Total
$ 3 ,8 6 9 51
.4 6 3 6 o f 1 %

ccounts

N um ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
.

462
381
2 ,4 9 7
$324 96

271

BANK COMMISSIONER

No. 8]

Sumner Savings Bank — Concluded
D ividends

declared

N o v ., 1907, 2 %
M ay, 1908, 2 %
Cash

o n

D eposit in

Statistics o p

Y ear

during

. $14,519 03
. 14,478 25

$28,997 28

B ank

Columbia Tr. Co., E . Boston

.

$ 1 1 ,0 6 4 24

M iscellaneous

N um ber of corporators, 2 3 ; trustees, 23
Gross income rec’d during year . $38,733 86
State ta x (net) paid “
“
.
1,133 08

Loans

N o. not exceeding $3 ,0 0 0 each
239
A m ount of same
.
. $418,913 00
N o. of loans on real estate .
268
Average am ount of same
.
$2,129 83
A m ount loaned on real estate
during year
.
.
. $ 2 7 ,9 0 0 00
N o. of new real estate loans
m ade during year .
.
13
D ate

of

E x a m i n a t i o n , September 18

TAUNTON SAVINGS BANK, TAUNTON
President, H

e n r y

F. B a s s e t t

Clerk of the Corporation, H

e n r y

Treasurer, H
R. W o o d

e n r y

R. W

ood

Board of Investment: A r t h u r M . A l g e r , H e n r y F . B a s s e t t , H e n r y S. C u l v e r ,
H e n r y M . L o v e r i n g , N a t h a n N e w b u r y , E d w a r d H . T e m p l e , D a n i e l A. T r e f e t h e n
Incorporated Feb. 9, 1869. Open for business every business day, 9 a .m . to 1 p . m . ; also
Saturdays, 2 to 5 p .m ., and the Saturday before quarter days, 7 .3 0 to 9 p .m ., for
deposits only
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July

B alance

A

S h e e t , O c t o b e r 31, 1908
L ia b il it ie s

ssets

. $517,920
Public funds
. 786,290
Railroad bonds .
.
88,928
Street railway bonds .
10,000
Boston Terminal Company bonds .
58,664
Bank and trust company stocks .
86,121
Loans to counties, cities or towns .
.
50,000
“ railroad companies
.
50,000
on railroad bonds
.
25,000
“ railroad notes
730
“ bank and trust co. stock s
32
“ depositors’ books .
. 708,509
“ real estate
.1,012,025
“ personal security
6,330
Real estate by foreclosure, etc.
.
66,324
Deposits in banks, on interest
2,500
“
“
“
not on interest
3,000
Cash on hand
608
Checks and cash items

97
78
40
00
00
39
00
00
00
00
44
69
00
50
88
00
54
98

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .
.

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

2,586 77

Due on foreclosed estate

.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

legal
.

.

57,541 25
1,660 67

$3,472,987 57

Estimated
Market Value

Par Value

.
.
.

160,000 00
59,057 47

. $60,128 02
.

$3,472,987 57

Schedule op Securities Owned

.$3,194,728 18
.

$46 2 ,0 0 0
764.0 0 0
80,0 0 0
10,000
85 ,6 0 0

00
00
00
00
00

$ 4 6 2,295
7 33,017
79 ,3 7 5
9 ,8 0 0
8 6,433

00
50
00
00
50

Book Value

$474,669
770,263
8 3 ,7 7 4
10,000
86,121

81
05
03
00
39

111,650 00

114,433 26

$ 1 ,5 1 1 ,6 0 0 00 $1,482,571 00

$1,539,261 54

1 10.000 00

272

R E PO R T OF THE

[Pub. Doc

Taunton Savings Bank — Continued
Schedule op Securities Owned

Shs.
10
12
10
6
33
5
10
20
5
17
17
200
34
9
116

Estimated
Market Value

Par Value

Bank and Trust Company Stocks
Atlantic National Bank, Boston
Boylston National Bank, Boston
Continental National Bank, Boston .
Merchants National Bank, Boston
M t. Vernon National Bank, Boston
National Bank of Commerce, Boston .
New England National Bank, Boston
Second National Bank, Boston
Trem ont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston .
First National Bank, New Bedford .
Merchants National B ’k, N . Bedford .
Bristol County National B ’k, Taunton
Machinists National Bank, T aunton .
T aunton National Bank, Taunton

$1 ,0 0 0 00
1,200 00
600
2 ,788
500
1,000
2 ,0 0 0
175
1.700
1.700
20,0 0 0
3 ,4 0 0
9 00
11,600

$1 ,4 0 0
1,200
10
1,302
726
8 00
1,400
4 ,300
5
2 ,4 6 5
2 ,193
39 ,6 0 0
3 ,6 0 4
1,305
11,832

00
50
00
00
00
00
00
00
00
00
00
00

$48,563 50

T

otal

A

m ount of

L

b e a r in g

E

ach

Loans on Personal
Security

$75,0 0 0 00

—

-

$65,2 0 0 00
5 ,000 00

2 6 5 ,0 0 0
2 2 2 ,0 0 0
15,000
140,000
6 5,000
25 ,0 0 0
3 5 ,0 0 0
5 0,025
85 ,0 0 0
2 0 ,0 0 0
1 5,000

-

547,9 9 0 69
-

19,000 00
-

71,319 00
-

-

.

Average rate

T

otal

E

and

W


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00
00
00
00
00
00

S p e c if ie d R

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$58,6 6 4 00

ate

of

In

terest

Other Loans

Total Loans

$ 2 0 ,3 2 0
9,019
40,181
6 6,600

$20,3 2 0
8 4,019
40,181
396,8 0 0
2 2 7 ,0 0 0
1 5 ,000
738,490
6 5,000
44 ,1 5 0
3 5 ,0 0 0
146,456
8 5 ,0 0 0
20 ,0 0 0
1 5,000

99
03
37
00
—

5 0,500 00
-

150 00
-

2 5,112 44
-

-

99
03
37
00
00
00
69
00
00
00
44
00
00
00

$708,509 69

$ 1 ,0 1 2 ,0 2 5 00

$211,883 83

$1,9 3 2 ,4 1 8 52

5 .0 5 per cent.

4 .7 0 per cent.

5 .0 1 per cent.

xpen ses

it h d r a w a l s

Am ount of deposits
.
N um ber of same
.
Am ount of withdrawals
N um ber of same
.
N et decrease in deposits

$ 1,090
1,248
1
700
700
500
1,300
2 ,9 0 0
10
2 ,3 8 0
2 ,1 2 5
27 ,2 0 0
3 ,9 1 0
1,260
1 3 ,340

5 .0 6 per cent.

Salaries
Am ount paid for
$ 5,607 92
% of total assets .1 6 1 4 of 1 %

e p o s it s

31, 1908,

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$72,132 00

_

4
per cent.
4ir
“
“
4 .3 0 “
“
4i
“
“
4f
“
“
R
;;
;;
5
5i
“
“
&2
5f
“
“
6
“
u
6i
“
“
6f
“
“
7
“
“

D

ct.

Loans on Real
Estate

Rate

Totals

O

oans on

Book Value

.
.
.
.
.

for

Y

e a r

,

e x c l u s iv e

Rent
$600 00
.0 1 7 2 of 1 %

d u r in g

Y

ear

. $460,1 8 5 12
.
5,627
. $ 5 8 4,512 70
.
6 ,854
.
$1 ,7 5 0 46

of

State

Advertising
$304 92
.0 0 8 7 of 1 %
D

e p o s it

T

axes

Other Expenses
$1,387 43
.0 3 9 9 of 1 %
A

Total
$7 ,9 0 0 27
.2 2 7 2 of 1 %

ccounts

N um ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

891
901
7,592
$420 80

No. 8]

BANK COMMISSIONER

273

Taunton Savings Bank — Concluded
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Cash

on

D

Y

d u r in g

e p o s it

B

in

anks

National Shawmut B ’k, Boston .
Second National B ’k, Boston
.
T aunton National B ’k, Taunton .
M

St a t is t ic s

ear

. $61,041 70
. 61,535 42 $122,577 12

$1 10
2 9,407 65
39,4 1 6 13

L

of

oans

No. not exceeding $ 3 ,000 each
307
Am ount of same
.
. $362,001 39
No. of loans on real estate .
366
Average am ount of same
.
$ 1,935 82
Am ount loaned on real estate
during year
.
.
. $84,3 1 4 63
No. of new real estate loans
made during year .
.
48

is c e l l a n e o u s

N um ber of corporators, 6 8 ; trustees, 22
Gross income rec’d during year . $156,859 57
State ta x (net) paid “
“
.
12,325 64

D

ate

of

E

x a m in a t io n

,

M ay 12, 13

TEMPLETON SAVINGS BANK, BALD W IN VILLE
President, M . A . W

Treasurer, A

il s o n

Clerk of the Corporation, A
Board of Investment: M . A . W

il s o n

H

sa

, G il m a n W a it e , F
Jo h n E . M u r p h y

sa

H

, G

e o

osm er

osm er

L. H

ran k

osm er

. S. St o

n e

,

Incorporated April 19, 1871. Open for business every W ed nesd ay and Saturday, the
last tw o weeks in March, June, September and December, the first week in January
and July, and the first three days in April and October, 9 a . m . to 12 m ., 1 to 4 p . m .
Deposits commence to draw interest the first d ay of January, April, July and October
Dividends are payable the fifteenth day of January and July

B

A

alance

Sh

eet

, O

ctober

31, 1908
L

ssets

Public funds
Railroad bonds .
Bank and trust company stocks
Loans to counties, cities or towns
“
on real estate
“
“ personal security
Bank building and fixtures .
Deposit in bank, on interest .
Cash on hand

.
.
.
.
.
.

$57,600
60,000
9,455
55,584
194,293
162,636
8,408
10,969
1,286

00
0Ö
00
53
00
00
72
30
57

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

ia b il it ie s

.

.

$526,632 52
26,150 00
506 29

Interest, rents, etc.
Less current
Expenses .
.

.

$8,290 13

.

1,345 82

$560,233 12

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$560,233 12

Par Value

Schedule op Secubities Owned

.
.
legal
.

6,944 31

Estimated
Market Value

Book Value

$25,600 00
5 6,000 00
55 ,5 8 4 53

$26,0 7 6 00
5 1,730 00
5 5,584 53

$25,6 0 0 00
5 5,000 00
55 ,5 8 4 53

37,0 0 0 00

37 ,6 3 5 00

37 ,0 0 0 00

$1 7 4 ,1 8 4 53

$ 1 7 1,025 53

$1 7 3 ,1 8 4 53

274

R E PO R T OF THE

[Pub. Doc

Templeton Savings Bank — Concluded
Schedule op Securities Owned

Shs.
Bank and Trust Company Stocks
2 Millers R iver National Bank, A thol
10 National Bank of Commerce, Boston .
10 National Rockland Bank, Boston
3 State National Bank, Boston
5 Trem ont National Bank, Boston
3 W ebster & A tlas National Bank, Boston
10 Fitchburg N ’l Bank, Fitchburg .
12 First National Bank, Gardner
3 0 Orange National Bank, Orange .
14 First National Bank, W inchendon

Par Value

Estimated
Market Value

Book Value

$200
1,000
1,000
300
175
3 00
1,000
1,200
3 ,0 0 0
1,400

$340
1,600
1,650
435
5
435
1.500
1.500
5,550
1,890

$200
1,000
1,000
180
175
300
1,000
1,200
3 ,0 0 0
1,400

00
00
00
00
00
00
00
00
00
00

$ 9,575 00

T

A

otal

m ount of

L

oans on

O

ct

31, 1908,

.

Loans on Real
Estate

R ate

b e a r in g

$14,905 00

S p e c if ie d R

ach

Loans on Personal
Security

4i

“
“
“
“
“
“
“
“
“

4f
5
5i
6
6*
7
8

T otals

.

T

.

2 9,328 00

E

otal

W

iv id e n d s

Ca sh

on

D

$412,513 53

4 .3 3 per cent.

5 .2 3 per cent.

xpen ses

it h d r a w a l s

for

Y

e a r

,

e x c l u s iv e

Rent

d u r in g

Y

e p o s it

.
.

d u r in g

$9,921 87
10,098 49
B

in

Y

ear

ear

$ 2 0 ,C

B

) 36

E

x a m in a t io n


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

,

an k

B

T

a xes

Other Expenses
$245 82
.0 4 3 7 of 1 %
u il d in g

and

F

ix t u r e s

Book value
Estim ated value
Assessed value .
N et income
e p o s it

A

Total
$ 1,345 82
.2 4 0 0 of 1 %

$8,408
9 ,0 0 0
7 ,100
293

72
00
00
16

ccounts

N um ber opened during year
Num ber closed
“
“
Total num ber O ct. 3 1 , 1908 .
Average balance “
“

149
136
1,405
$ 374 82

an k

N um ber of corporators, 3 4 ; trustees, 20
Gross income rec’d during year . $2 5 ,9i
58
State ta x (net) paid “
“
.
1,41 i 0 2
of

State

of

Advertising

; 42
729
! 82
752
i 96

declared

12,000 00
4 ,500 00

53
00
00
00
00
00
00
00
00
00

5 .6 5 per cent.

is c e l l a n e o u s

ate

$39,0 8 4
2 ,0 0 0
2 0 ,0 0 0
18,000
2 0 7 ,5 6 5
15,400
7 8,318
20 ,0 0 0
3 ,1 4 6
9 ,0 0 0

5 .1 4 per cent.

1 30
M

Total Loans

$55,5 8 4 53

D
D

terest

$ 1 6 2,636 00

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

Jan., 1908, 2 % .
July, 1908, 2 % .

00
00
00
00
00
00
00
00

In

$194,293 00

Salaries
Am ount paid for
81 ,1 0 0 00
% of total assets .1 9 6 3 of 1 %
and

$20,0 0 0
18,000
32,6 0 0
10,900
4 8,990
20,0 0 0
3 ,146
9 ,0 0 0

162,965 00

.

e p o s it s

of

$2,0 0 0 00

.
.
•
.
.
.
.
.

Average rate

D

ate

$39,0 8 4 53

“
“
“
“
“
“
“
“
“

00
00
00
00
00
00
00
00
00
00

$9 ,4 5 5 00

Other Loans

per cent.

4

D

E

00
00
00
00
00
00
00
00
00
00

M ay 2 7

S t a t is t ic s

of

L

oans

N o. not exceeding $3 ,0 0 0 each
173
Am ount of same
.
. :$ 168,484 00
N o. of loans on real estate .
169
Average am ount of same
$1,149 66
A m ount loaned on real estate
during year
$10,973 00
N o. of new real estate loans
made during year .
13

275

BANK COMMISSIONER

No. 8]

UNION SAVINGS BANK, FALL RIVER
President, J e r o m e C . B o r d e n
Clerk of the Corporation, M
Board of Investment:

Treasurer, A
B. H

e l v in

Je r o m e C. B o r d e n , C y r u s C. R o u n s e
F r e d e r i c k O. D o d g e , A . H o m e r S k i n

Incorporated April 2 4 , 1869.

W .

dam

G

if f o r d

orton
v il l e

, T

D.

hom as

Co

vel

,

n er

Open for business every business day, 9
Saturdays, 6 to 8 p . m .

a .m

.

to 2

p .m

.;

Deposits commence to draw interest the fifteenth day of February, M ay, A ugust and
Novem ber. Dividends are payable the nineteenth day of M ay and N ovem ber

B

alance

Sh

eet

, O

31,

ctober

1908

L ia b il it ie s

A ssets

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

$113,140 00
Public funds
371,309 30
Railroad bonds .
25.000 00
Boston Terminal Company bonds
62,700 00
Bank and trust company stocks
130,000 00
Loans to railroad companies
“ on real estate $1,354,820 00
Less, due on mtge. loans 3,710 80 1,351,109 20
789,830 00
Loans on personal security .
38.000 00
Bank building and fixtures .
2,814 28
Real estate by foreclosure, etc.
67,399 84
Deposits in banks, on interest
3,194 52
Cash on hand
1,107 10
Checks and cash items .

.

.$2,671,805 56

.

26,936 53

Interest, rents, etc.

$2,955,604 24

$2,955,604 24

$ 1 1 3,250
3 3 4 .0 0 0
25 .0 0 0
4 0.000

Public funds
.
.
. /
.
Railroad bonds
.
.
.
.
.
Boston Terminal Company bonds
Loans to railroad companies .
Bonds and notes which are not now legal
investments
.
.
.
.
.

T

Bank and Trust Company Stocks
Fall R iver N ’ l Bank, Fall R iver
Massasoit-Pocasset N ’l B ’k, Fall River
Metacomet N ’l Bank, Fall R iver
National Union Bank, Fall River
Pocasset National B ’k, Fall R iver

otal

A

m ount of

L

oans on

5
5Ì
5Ì

6

“
“
“
“

Totals

“
“
“
“

ct.

31, 1908,

Loans on Real
Estate

R ate

4 4 per cent.
4f “
“

O

•
.
.

.
.

.

.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Estimated
Market Value

Par Value

Schedule op Securities Owned

Shs.
102
2 25
300
170
35

$509,525 00
8 3 8 ,5 8 4 20
3 ,0 0 0 00

98,000 00
158,862 15

.

$114,387
343,0 8 0
24 ,5 0 0
4 0,000

00
00
00
00

Book Value

$ 1 1 3,140
3 27,822
25 .0 0 0
4 0 .0 0 0

50
00
00
00

00
64
00
00

137.000 00

135,545 00

133,486 66

$649,2 5 0 00

$657,512 50

$639,449 30

$10,200 00
22 ,5 0 0 00
3 0 ,0 0 0 00

$ 13,260
36 .0 0 0
39 .0 0 0
3 40
70

00
00
00
00
00

$10,2 0 0 00
22 ,5 0 0 00
3 0 ,0 0 0 00

$ 62,700 00

$88,6 7 0 00

$62,7 0 0 00

b e a r in g

E

ach

Loans on Personal
Security
$ 4 4 5,000
5 2,500
2 0 4 ,9 5 0
2 5 ,0 0 0
26,6 0 0
35,7 8 0

00
00
00
00
00
00

S p e c if ie d R

Other Loans

$ 1 3 0,000 00

ate

of

I

n terest

Total Loans

$445,0 0 0
5 2 ,500
844,4 7 5
2 5 ,0 0 0
8 6 5 ,1 8 4
38 ,7 8 0

00
00
00
00
20
00

$1,3 5 1 ,1 0 9 20

$ 7 8 9,830 00

$1 3 0 ,0 0 0 00

$ 2 ,2 70,939 20

5 .3 1 per cent.

4 .7 7 per cent.

5 .0 0 per cent.

5 .1 1 per cent.

276

R E PO R T OF TH E

[Pub. Doc.

Union Savings Bank— Concluded
T

otal

E

xpen ses

for

Salaries

Y

e a r

,

e x c l u s iv e

Rent

of

State

Advertising

Am ount paid for
$3 ,4 9 8 44
% of total assets .1 1 8 3 of 1 %
D

e p o s it s

and

W

it h d r a w a l s

A m ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits

d u r in g

.

Y

B

ear

. $505,037 59
6,365
$5 3 2 ,4 4 4 49
6,032
$72,2 0 5 53

iv id e n d s

declared

N o v ., 1907, 2 %
M ay, 1908, 2 %
Cash

on

D

d u r in g

Y

. $49,237 45
. 5 0,374 98

e p o s it

B

in

$99,612 43

of

E

x a m in a t io n

,

u il d in g

and

F

ix t u r e s

e p o s it

A

$ 38,000
38 ,0 0 0
38 ,0 0 0
41

00
00
00
77

ccounts

787
771
5 ,344
$499 96

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3 ,0 0 0 each
472
A m ount of same
$ 7 0 5,520 00
No. of loans on real estate .
598
Average am ount of same
$2,259 38
A m ount loaned on real estate
during year
$ 1 4 1,070 00
N o. of new real estate loans
made during year .
49

is c e l l a n e o u s

ate

$ 4 ,880 98
.1 6 5 0 of 1 %

anks

N um ber of corporators, 4 6 ; trustees, 15
Gross income ree’d during year . $143,637 17
State ta x (net) paid “
“
.
5 ,834 93
D

Total

$1,382 54
.0 4 6 7 of 1 %

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“

ear

Fall R iver N 'l Bank, Fall R iver . $17,123 24
Massasoit-Pocasset National Bank,
Fall R iver
.
.
.
.
5 0,276 60
M

B

a xes

Book value
Estim ated value
Assessed value .
N et income
D

D

an k

T

Other Expenses

M ay 18

UNION INSTITUTION FOR SAVINGS IN THE CITY
OF BOSTON — BOSTON
President, T

B. F i t z p a t r i c k
Clerk of the Corporation, T

Treasurer, T

hom as

hom as

M

h os

.

J. K

elly

cL a u g h l in

Board of Investment: T h o m a s B . F i t z p a t r i c k , M i c h a e l M . C u n n i f f , W i l l i a m J . P o r t e r ,
H e n r y Y . C u n n i n g h a m , J o s . D . F a l l o n , E d m u n d R e a r d o n , M i c h a e l J. W a r d
Incorporated Feb. 11, 1865.

Open for business every business day, 9

a .m

.

to 2

p .m

.

Deposits commence to draw interest the second W ednesd ay of February, M ay, August
and Novem ber. Dividends are payable the third W edn esd ay of M ay and N ov em b er

B

A

alance

Sh

eet

ctober

31, 1908
L ia b il it ie s

ssets

Public funds
.
.
.
. $944,000
Railroad bonds .
.
.
. 344,340
Street railway bonds
53,000
Boston Terminal Company bonds . 192,000
Bank and trust company stocks
93,750
Loans to counties, cities or towns .
10,000
“
“ railroad companies
10,000
‘ on bank and trust co. stocks
11,125
“
“ real estate
4,363,826
2,224,729
“
“ personal security
225,000
Bank building and fixtures .
38,339
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
mortgaged properties
815
Stocks, bonds, etc., taken to secure
11,000
indebtedness .
.
.
.
245,662
Deposits in banks, on interest
19,722
Cash on hand
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

, O

00
00
00
00
00
00
00
00
15
48
00
34

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.

.

.

.$8,080,587 78
.
.

405,000 00
297,956 94

3,765 71

31
00
66
49

$8,787,310 43

$8.,787,310 43

277

BANK COMMISSIONER

No. 8]

Union Institution for Savings, etc. — Continued
Schedule

op

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.

Shs.
13
38
20
16
100
60
92
25
59
5
300
5
5
100
85
50
29

Estimated
Market Value

Par Value

Securities Owned

$944,000
346,0 0 0
53 ,0 0 0
192,000
10,000

.
.
.

00
00
00
00
00

$ 9 4 4,808
3 2 6 ,8 8 0
5 3,285
188,160
10,000

A

m ount of

L

oans on

4 per cent.
4i “
“

U

5i

5|
6

“

“

“
“
“
“
"
“

“
“
“
“
“
“

Totals

ct.

31, 1908,

Loans on Real
Estate

Rate

4f
4f
5
5i

O

.
.
•
.
.
.
.
.

.
.
.
.

otal

1 0 ,000 00

10,000 00

$1,5 5 5 ,0 0 0 00

$ 1 ,5 5 3 ,3 4 0 00

$ 1,300
3 ,8 0 0
2 ,0 0 0
1,600
10,000
6 ,000
9 ,2 0 0
2,112
5 ,900
500
30 ,0 0 0
500
500
10,000
8 ,5 0 0
1,750
2 ,9 0 0

$1 ,3 0 0
7 ,4 1 0
2 ,7 6 0
5 ,024
16,000
6 ,000
11,040
550
9 ,4 4 0
510
87 ,0 0 0
8 00
555
9 ,5 0 0
12,325
50
4 ,2 0 5

$1 ,3 0 0
3 ,8 0 0
2 ,0 0 0
1,600
10,000
6 ,000
9 ,2 0 0
1,000
5 ,900
500
30 ,0 0 0
500
500
10,000
8 ,5 0 0
50
2 ,9 0 0

00
00
00
00
00
00
00
50
00
00
00
00
00
00
00
00
00

E

S p e c if ie d R

ate

Other Loans

of

In

terest

Total Loans

$10,0 0 0 00

$27,0 0 0
29.0 0 0
2 ,7 0 3 ,7 2 0
3 9 0 .0 0 0
25.0 0 0
2 ,7 2 6 ,7 0 5
5 0.000
412,7 0 4
187.000
6 8,550

00
00
27
00
00
88
00
48
00
00

$ 4 ,3 6 3 ,8 2 6 15

$ 2 ,2 24,729 48

$31,1 2 5 00

$6,6 1 9 ,6 8 0 63

4 .7 5 per cent.

4 .9 6 per cent.

4 .4 9 per cent.

4 .8 3 per cent.

2,3 2 7 ,7 0 5 88

xpen ses

for

Y

$ 7 6 9,500
3 4 5 .0 0 0
25 .0 0 0
389.0 0 0
5 0.000
409,229
187.000
5 0.000

$93,7 5 0 00

$174,469 00

ach

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

11,125 00

18,550 00

E

b e a r in g

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

00
00
00
00
00
48
00
00

Salaries
A m ount paid for
817,8 6 0 59
% of total assets .2 0 3 2 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
27
00

.

Average rate

00
00
00
00
00

$1,5 3 3 ,1 3 3 75

Loans on Personal
Security

3 ,475 00

.

T

$17,000
29 .0 0 0
1 ,923,095
4 5.000

$ 9 4 4,000
3 4 4 ,3 4 0
53,0 0 0
192,000
10,000

10,000 00

Bank and Trust Company Stocks
Boylston National Bank, Boston
Eliot National Bank, Boston
Faneuil H all National Bank, Boston .
First National Bank, Boston
Fourth National Bank, Boston
Mechanics Trust Company, Boston
Metropolitan National Bank, Boston .
M ount Vernon National Bank, Boston
National Bank of Commerce, Boston .
N ’l Market B ank of Brighton, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Old Boston National Bank, Boston
South E nd National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston

otal

75
00
00
00
00

legal

$96,562 50

T

Book Value

ear

, E X C L U S IV E

Rent
8 6 ,000 00
.0 6 8 2 of 1 %

10,000 00

OF

Advertising
$431 80
.0 0 4 9 of 1 %

State

T

axes

Other Expenses
$3,681 91
.0 4 1 8 of 1 %

Tot'al
$27,9 7 4 30
.3181 of 1 %

R E PO R T OF THE

278

[Pub. Doc.

Union Institution for Savings, e tc .— Concluded
D

e p o s it s a n d

W

it h d r a w a l s

A m ount of deposits .
N um ber of same
Am ount of withdrawals
Num ber of same
N et decrease in deposits

.

d u r in g

Y

B

ear

$ 1 ,5 0 2 ,3 8 5 63
15,751
$ 1 ,8 2 1 ,9 4 6 05
15,563
. $ 1 4 ,0 3 6 68

D
D

iv id e n d s

declared

N o v ., 1907, 2 %
M ay, 1908, 2 %

Ca sh

on

D

Y

d u r in g

e p o s it

B

in

u il d in g

F

and

ix t u r e s

e p o s it

A

$225,000 00
3 1 1 .2 0 0 00
3 11.200 00
4 ,1 0 6 f4 6

ccounts

N um ber opened during year
Num ber closed
Total number O ct. 31, 1908 .
Average balance “
“

1,905
1,531
20,837
$387 79

anks

B oylston National Bank, Boston .
Commercial N ’l Bank, Boston
Federal Trust Co., Boston .
Mechanics Trust Co., Boston
N ational Shawmut B ’k, Boston .
South E nd National B ’k, Boston
United States Trust Co., Boston .

M

ear

$ 1 5 3,235 31
. 152,288 43 $305,523 74

B

an k

Book value
Estim ated value
Assessed value .
N et income

$ 15,555
11,916
13,088
15,512
160,803
11,302
17,481

68
86
94
90
76
63
89

S t a t is t ic s

of

L

oans

N o. not exceeding $ 3 ,0 0 0 each
442
A m ount of same
.
. $798,898 74
N o. of loans on real estate .
839
Average amount of same
.
$5,201 22
Am ount loaned on real estate
during year
.
.
. $466,693 00
N o. of new real estate loans
made during year .
.
74

is c e l l a n e o u s

Num ber of corporators, 3 5 ; trustees, 23
Gross income rec’d during year . $398,993 90
State ta x (net) paid “
“
.
19,029 69

D

ate

of

E

x a m in a t io n

,

M ay 5 , 6

UXBRIDGE SAVINGS BANK, UXBRIDGE
President, C h a r l e s E . S e a g r a v e
Treasurer, C h a r l e s A . B
Clerk of the Corporation, C h a r l e s A . B a r t o n
Board of Investment: C h a r l e s E . S e a g r a v e , C h
W

. E. H

m

Incorporated June 3, 1870.
8 .3 0 a . m . to 12

m

, A

ayw ar d

rth u r

as

W

. W .

Scott, A

rth ur

arton

R. T

a ft

,

h eelock

Open for business every business day, except Saturdays,
1.30 to 4 p . m . ; Saturdaj^s, 8.3 0 a . m . to 12 m .

.,

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifth day of January and July

B

A

alance

ee t

, O

ctober

31, 1908
L ia b il it ie s

ssets

Public funds
Railroad bonds
Street railway bonds
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
“
on real estate
“
“ personal security
Real estate by foreclosure, etc.
Premiums .
.
.
.
Furniture and fixtures
Expenses on foreclosed properties
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Sh

.
.
.
.
.
.
.

$14,268
164,938
26,985
10,567
26,060
6,000
333,711
12,345
8,000
6,606
375
189
5,000
5,389
165

00
75
00
50
00
00
00
00
00
00
00
26
00
46
91

$620,600 88

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

$566,036 19
27.712 00
17,494 14

. $10,157 63
796 08

9,361 55

$620,600 88

279

BANK COMMISSIONER

No. 8]

Uxbridge Savings Bank — Concluded
Estimated
Market Value

Par Value

Schedule op Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com panv bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

$ 10,000
157,000
10,000
12,000
6 ,000

.
.
.

legal
.

$9,725
148,855
9 ,9 5 0
10,845
6 ,000

00
00
00
00
00

A

m ount of

L

oans on

ct.

4 per cent.
4* “
“
5
“
“
5i “
“
6
“
64 “
“

27 ,2 8 0 00

29 ,8 5 0 00

$212,655 00

$222,259 25

$ 6,400
1,015
3 ,4 0 0
2 ,0 0 0
5 ,900
800
7 ,800

$9 ,2 8 0
29
4 ,9 3 0
2 ,3 0 0
6,903
680
7 ,0 2 0

00
00
00
00
00
00
00

otal

W

S p e c if ie d R

ach

E

declared

on

D

e p o s it

n terest

Total Loans

$3 ,0 0 0
3 .0 0 0
323,1 8 5
1,250
12,621
9 .0 0 0

$ 6 ,000 00

$ 3 5 2,056 00
5 .0 6 per cent.

xpen ses

.
.
.
.
.

for

Y

e a r

,

e x c l u s iv e

Rent
$300 00
. 0482 of 1 %
d u r in g

Y

of

State

Advertising
$55 75
0089 of 1 %
D

ear

$ 96,199 66
•
850
. $86,699 58
.
939
. $ 3 0 ,3 2 6 46

d u r in g

B

Y

ear

$20,826 38

anks

$ 5,000 00
5,389 46

A

e p o s it

Ta

xe s

Other Expenses
$532 86
.0 8 5 7 of 1 %

Total
$2,421 13
.3 8 9 4 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“
•
of

L

177
143
1,482
$381 94

oans

N o. not exceeding $3,0 0 0 each
126
A m ount of same
.
. $14 6 ,7 0 6 00
N o. of loans on real estate .
146
Average amount of same
.
$ 2 ,2 8 5 69
A m ount loaned on real estate
during year
.
.
. $ 4 1 ,4 0 0 00
N o. of new real estate loans
made during year .
13

is c e l l a n e o u s

N um ber of corporators, 3 2 ; trustees, 20
Gross income rec’d during year . $27,6 0 5 88
State ta x (net) paid “
“
.
967 56


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00
00

4 .2 5 per cent.

First National Bank, Boston
.
Blackstone N ’l Bank, Uxbridge .
M

I

$12,3 4 5 00

. $ 1 0 ,3 2 4 33
. 10,502 05
in

of

6 .3 6 per cent.

it h d r a w a l s

Jan., 1908, 2 % .
July, 1908, 2 % .
Cash

ate

Other Loans

S t a t is t ic s
iv id e n d s

$26,0 6 0 00

$333,711 00

Am ount of deposits .
N um ber of same
.
A m ount of withdrawals
N um ber of same
;
N et increase in- deposits
D

$31,142 00

5 .0 2 per cent.

Salaries
A m ount paid for
$ 1,532 52
% of total assets . 2 465 of 1 %
and

$6 ,4 0 0 00
—
3 ,4 0 0 00
2 ,0 0 0 00
5 ,900 00
80 0 00
7 ,5 6 0 00

$3,3 4 5 00
9 ,0 0 0 00

■

T

E

Loans on Personal
Security

$323,185 00
1,250 00
9 ,2 7 6 00

•

.

e p o s it s

b e a r in g

00
00
00
00
00
00
00

$3,0 0 0 00
3 ,0 0 0 00

•
.

Average rate

D

31, 1908,

Loans on Real
Estate

Rate

Totals

O

00
75
00
50
00

29,0 0 0 00

$27,3 1 5 00

otal

$ 9,268
157,073
10,000
10,567
6,000

00
00
00
00
00

$224,000 00
Shs.
Bank and Trust Company Stocks
64 State National Bank, Boston
29 Tremont National Bank, Boston
34 W ebster & A tlas National B ’k, Boston .
2 0 First National Bank, Clinton
59 Franklin National Bank, Franklin
8 Millbury National Bank, Millbury
78 Blackstone National Bank, Uxbridge .

T

Book Value

D

ate

of

E

x a m in a t io n

,

July 27

280

R E PO R T OF THE

[Pub. Doc

W AKEFIELD SAVINGS BANK, W AKEFIELD
President, E

dw ard

A. R

Treasurer, R

ic h

Clerk of the Corporation, R
Board of Investment: R

B

ic h a r d

F

r it t o n

, John

H. A

ran k

ic h a r d

B

W . W

B

ic h a r d

r it t o n

r it t o n
h it e

, W

m

. A. P

rescott

,

tw ood

Incorporated M ay 2 6 , 1869. Open for business every business day, 2 to 5 p . m . ; also
M ondays and the first business day of February, M ay, August and N ovem ber,
6 to 8 p . m .
Deposits commence to draw interest the first day of February, M ay, August and N ovem ber
Dividends are payable the third W ednesday of February and August

B

A

alance

Sh

eet

, O

31, 1908

ctober

L ia b il it ie s

ssets

$184,400 00
Public funds
.
.
.
.
302,862 50
Railroad bonds .
.
.
.
23,000 00
Street railway bonds
Boston Terminal Company bonds .
50,000 00
9,200 00
Bank and trust company stocks
402,340 00
Loans on real estate
24,050 00
“
“ personal security .
13,817 00
Bank building and fixtures .
41,473 14
Real estate by foreclosure, etc.
Taxes, insurance, etc., paid on
482 03
mortgaged properties
Stocks, bonds, etc., taken to secure
2,000 00
indebtedness .
18,208 08
Premiums .
25,128 57
Deposits in banks, on interest
2,846 53
Cash on hand
.
.
.
.
708 81
Checks and cash items .

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$1,054,59,1 98
38,191 88
919 50

Interest, rents, etc.
Less current
Expenses .

.

$7,773 43
960 13

$1,100,516 66

$1,100,516 66

Estimated
Market Value

Par Value

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Bonds and notes which are not now
investments
.
.
.
.

$ 1 7 4,500
276,0 0 0
23 ,0 0 0
5 0,000

.
.
.
legal
.

Shs.
Bank and Trust Company Stocks
17 New England National Bank, Boston .
16 Second National Bank, Boston .
59 W akefield National Bank, W akefield .

00
00
00
00

otal

A

m ount of

L

5

6

per cent.
“

“

“

“

Totals

O

ct.

31, 1908,

Loans on Real
Estate

R ate

5*

oans on

•

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 1 7 0,545
267,003
22 ,9 8 0
4 9,000

Book Value

00
00
00
00

$174,4 0 0
275,8 6 2
23 ,0 0 0
5 0 ,000

00
50
00
00

40 ,0 0 0 00

39 ,2 0 0 00

37 ,0 0 0 00

$563,5 0 0 00

$548,728 00

$560,262 50

$1 ,7 0 0 00
1,600 00
5 ,900 00

$2,3 8 0 00
3 ,4 4 0 00
8 ,8 5 0 00

$1 ,7 0 0 00
1,600 00
5 ,900 00

$ 1 4 ,6 7 0 00

$9 ,2 0 0 00

$ 9 ,200 00 '

T

6,813 30

b e a r in g

E

ach

Loans on Personal
Security

S p e c if ie d R

Other Loans

ate

of

I

n terest

Total Loans

$357,3 5 7 00
9 ,2 0 0 00
3 5 ,783 00

$19,8 0 0 00
3 ,5 0 0 00
750 00

-

-

$ 3 7 7,157 00
12,700 00
3 6,533 00

$ 4 0 2,340 00

$24,0 5 0 00

-

$4 2 6 ,3 9 0 00

5 .1 0 per cent.

5 .1 0 per cent.

-

5 .1 0 per cent.

281

BANK COMMISSIONER

.No. 8]

Wakefield Savings Bank — Concluded
T

otal

E

xpen ses

for

Salaries
A m ount paid for
$2 ,2 9 0 75
•% of total assets .2 0 8 0 of 1 %
D

e p o s it s

and

W

it h d r a w a l s

Am ount of deposits .
Num ber of same
.
A m ount of withdrawals
N um ber of same
.
Net decrease in deposits

.
.
.
.
.

Y

ear

,

e x c l u s iv e

D

iv id e n d s

declared

Cash

on

D

B

$838 1 9
.0761 of 1 %

d u r in g

Y

B

ear

Y

of

E

x a m in a t io n

,

u il d in g

e p o s it

A

F

and

$3,522 79
.3 1 9 8 of 1 %
ix t u r e s

$13,817
13,817
1 0,000
3 60

.

$35,0 2 4 93

00
00
00
00

ccounts

610
696
4,902
$215 13

Num ber opened during year
Num ber closed
“
T otal number O ct. 31, 1908 .
Average balance “
“

ear

anks

S t a t is t ic s

$6,567 26
18,561 31

of

L

oans

243
N o. not exceeding $ 3,0 0 0 each
$ 2 7 3,540 00
A m ount of same
264
N o. of loans on real estate .
$1 ,5 2 4 01
Average am ount of same
A m ount loaned on real estate
$17,5 5 0 00
during year
N o. of new real estate loans
13
made during year .

is c e l l a n e o u s

ate

B

an k

Book value
Estim ated value
Assessed value .
N et income
.

- $236,743 49
.
5,848
. $325,892 54
.
5,748
. $54,1 2 4 12

N um ber of corporators, 6 4 ; trustees, 15
Gross income rec’d during year . $45,631 60
S tate ta x (net) paid “
“
■
2 ,8 1 5 52
D

Total

$33 25
.0 0 3 0 of 1 %

W inthrop National B ’k, Boston .
W akefield N ’l Bank, W akefield .
M

a xes

$360 00
.0 3 2 7 of 1 %

d u r in g

in

T

Other Expenses

. $17,711 53
. 17,313 40

e p o s it

State

Advertising

D

Feb., 1908, l f %
A u g ., 1908, l f %

of

Rent

April 10

W ALES SAVINGS BANK, W ALES
President, M i n e r H . C o r b i n
Treasurer, H . A . M
Clerk of the Corporation, H . A . M c F a r l a n d
Board of Investment: O. C. S w
Incorporated April 2, 1870.

it z e r

, L

a

R

oy

S

q u ir e

,

C. G . T

cF a r la n d

h om pson

Open f o r business every business day, 10
1 to 3 P .M .

a .m

.

to 12 M .,

Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the first day of January and July

B

A

Sh

alance

ee t

, O

ctober

31,

1908

L ia b il it ie s

ssets

Bank and trust company stocks
Loans on real estate
“
“ personal security .
Real estate by foreclosure, etc.
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand

$1,025
5,418
200
2,829
3,632
19
331

00
00
00
25
39
97
85

$10,468 52

Deposits .
Surplus:
Guaranty fund
Profit and loss

1,341 00
1,394 72

Interest, rents, etc.
Less current
Expenses .

$343 38
91 16

Schedule

op

Securities O wned

Shs.
Bank and Trust Company Stocks
3 Tremont National Bank, Boston
10 Monson National Bank, Monson


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

252 22
$13,456 46

$13,456 46

Par Value

Estimated
Market Value

Book Value

$105 00
1,000 00

$3 00
1 ,200 00

$ 1 ,025 00

$ 1,105 00

$ 1,203 00

$ 1,025 00

282

R E PO R T OF THE

[Pub. Doc.

Wales Savings Bank — Concluded
I

otal

A

m ount of

L

O

oans on

Loans on Real
Estate

R ate

5 per cent.
6

“

T

E

otal

W

iv id e n d s

Ca sh

on

D

e p o s it

$200 00

-

$ 5,618 00

-

5 .7 9 per cent.

for

Y

d u r in g

.

d u r in g

B

e a r

,

e x c l u s iv e

Rent

Y

Y

State

of

Advertising

ear

$ 1,500 77
13
$ 5 ,3 1 4 97
37
$3 ,3 9 0 89

D

e p o s it

T

a xes

Other Expenses
$188 9 0
1 .4 0 3 8 %
A

Total
$263 90
1 .9 6 1 2 %

ccounts

Num ber closed during year .
T otal num ber Oct. 31, 1908 .
Average balance “
“
S t a t is t ic s

of

L

oans

N o. not exceeding $3 ,0 0 0 each
A m ount of same
N o. of loans on real estate .
Average amount of same

e a i!

$423 31

85
$123 15

15
$ 5,618 00
14
$387 00

anks

Palmer National B ’k, Palmer
H am pden Tr. Co., Springfield
Pynchon N ’l Bank, Springfield
Springfield N ’l B ’k, Springfield
Springfield Safe Deposit & Trust
Company, Springfield
.
Third National B ’k, Springfield
U nion Trust Co., Springfield
M

Total. Loans

5 .0 0 per cent.

$228 87
194 44

in

terest

$ 5 ,418 00

.

.
.

Other Loans

In

of

5 .8 2 per cent.

it h d r a w a l s

Jan., 1908, l f %
July, 1908, l f %

ate

$ 1,150 00
4,468 00

xpen ses

declared

S p e c if ie d R

-

A m ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits
D

ach

Loans on Personal
Security

Salaries
A m ount paid for
$75 00
% of total assets .5 5 7 4 of 1 %

e p o s it s a n d

E

$200 00

.

Average rate

D

b e a r in g

$950 00
4 ,468 00

“

T otals

31, 1908,

ct.

.
.
.
.
.
.
.

$19
419
93
2,491

97
D
67
51*
13

ate

of

E

x a m in a t io n

,

October 16

45 98
432 35
149 75

is c e l l a n e o u s

N um ber of corporators, 2 0 ; trustees, 12
Gross income rec’d during year .
$832 78
State ta x (net) paid “
“
.
23 64
* In liquidation.

W ALTH AM SAVINGS BANK, W ALTH AM
President, E

nos

T.

L

Treasurer, G

uce

Clerk of the Corporation, W
Board of Investment: H
Ch

arles

en ry

O. M

N. F is h
o r r il l

er

, T

il l ia m

, E

nos

hom as

B. Com

eorge

R .

B

eal

sto ck

T. L u c e , N a t h
H . A rm strong

an

W

arren

Incorporated xIa oCob18’ 1858' ° P en for business every business day, except Saturdays,
8 .3 0 a . m to 2 .3 0 p . m . ; Saturdays, 8 .3 0 a . m . to 12 m . ; also W ednesdays, 7 to 8 p . m .
for deposits only
’
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the second W ednesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BANK COMMISSIONER

No. 8]

283

Waltham Savings Bank — Continued
B

Sh

alance

eet

, O

31,

ctober

1908

A ssets

L i ABILITIES

. $724,000
Public funds
.1,011,450
Railroad bonds .
Telephone company bonds .
.
65,625
Loans to counties, cities or towns
12,000
“
on bank and trust co. stocks
300
250
“
“ depositors’ books .
.1,999,095
“
“ real estate
4,900
“
“ personal security
.
46,594
Bank building and fixtures .
Real estate by foreclosure, etc.
.
53,000
Premiums .
.
.
.
4,625
. 140,560
Deposits in banks, on interest
.
10,482
Cash on hand
Checks and cash items
1,419

00
00
00
00
00
00
80
00
00
00
00
79
79
00

Deposits .
Surplus:
Guaranty fund
Profit and loss

.$3,866,372 63
.

Interest, rents, etc.
$ / ,625 97
Less current
Expenses . $1,198 38
Taxes
.
811 60
2,009 98

$4,074,302 38

T

otal

A

m ount op

L

oans on

4 per cent.
4* “
“

6

“

i

“

“

“

T otals

.
.

$674,0 0 0
1 ,018,000
75 ,0 0 0
12,000

legal
.

00
00
00
00

$646,547
S99,935
67,781
12,000

Book Value

50
00
25
00

$674,0 0 0
991,4 5 0
65,625
12,000

.
•
.

6 8,000 00

70 ,0 0 0 00

$1,8 4 9 ,0 0 0 00

$ 1 ,6 94,263 75

$1,8 1 3 ,0 7 5 00

31, 1908,

.

Average rate

T

otal

E

$ 75,000
1 ,436,575
8 00
486,7 2 0

b e a r in g

E

ach

Loans on Personal
Security

S p e c if ie d R

ate

Other Loans

00
00
00
80

of

In

terest

Total Loans

$12,000
7 5,000
1 ,4 3 6,575
2 ,0 0 0
490,970

00
00
00
00
80

$900 00
4 ,000 00

3 00 00
250 00

$ 1 ,9 9 9 ,0 9 5 80

$ 4,900 00

$12,5 5 0 00

$2,0 1 6 ,5 4 5 80

5 .2 3 per cent.

5 .9 1 per cent.

4 .0 7 per cent.

5 .2 2 per cent.

xpen ses

Salaries
Am ount paid for
8 8,167 11
% of total assets .2 0 0 4 of 1 %


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00

7 0,000 00

$12,0 0 0 00

•
.
•
.

“

“

ct.

Estimated
Market Value

Par Value

Loans on Real
Estate

R ate

5
5

O

5,615 99

$4,074,302 38

Schedule of Securities Owned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

196,800 00
5,513 76

for

Y

e a r

,

Rent
$1,419 31
.0 3 4 8 of 1 %

e x c l u s iv e

of

Advertising
$189 05
.0 2 9 5 of 1 %

State

T

a xe s

Other Expenses
$1,203 33
.0 0 4 6 of 1 %

Total
$10,978 80
.2 6 9 4 of 1 %

284

R E PO R T OF THE

[Pub. Doc

Waltham Savings Bank— Concluded
D

e p o s it s

and

W

it h d r a w a l s

Y

d u r in g

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

B

ear

. $ 6 4 9,368 83
12,722
. $821,848 07
13,425
. $26,645 43

D
D

iv id e n d s

declared

April, 1908, 2 %
O c t., 1908, 2 %

Cash

on

D

d u r in g

Y

e p o s it

B

in

M

$73,7 4 0 23
19,438 3 8
47,382 18

of

E

x a m in a t io n

and

e p o s it

A

F

ix t u r e s

.
.
.

. $ 4 6 ,5 9 4 00
.
52 ,0 0 0 00
.
4 5 ,0 0 0 00

ccounts

of

L

1,164
1,384
13,401
$288 51

oans

N o. not exceeding $3 ,0 0 0 each
592
Am ount of same
.
. $9 1 1 ,3 7 5 00
N o. of loans on real estate .
741
Average am ount of same
.
$ 2,697 8 4
Am ount loaned on real estate
during year
.
.
. $3 7 8 ,0 4 0 00
N o. of new real estate loans
m ade during year
.
.
89

is c e l l a n e o u s

ate

u il d in g

S t a t is t ic s

anks

N um ber of corporators, 1 0 0 ; trustees, 12
Gross income rec’d during year . $169,332 10
State ta x (net) paid “
“
.
9,629 9 0

D

B

N um ber opened during year
N um ber closed
“
T otal num ber O ct. 31, 1908 .
Average balance “
“

ear

. $72,973 10
. 72,8 6 0 71 $145,833 81

First National Bank, Boston
.
Boston S. D . & Tr. Co., Boston .
W alth am National B ’k, W a lth a m

an k

Book value
.
E stim ated value
Assessed value .

September 16, 17

,

W ARE SAVINGS BANK, W ARE
President, L

N. G il b e r t
Clerk of the Corporation, G

e w is

Board of Investment: C a l v i n H
H

en ry

it c h c o c k

K. H

yd e

, F

, W

Treasurer, F
eorge
il l ia m

r e d e r ic k

W .

D

r e d e r ic k

D. G

il m o r e

unham

C. E a t o n , F
D . G il m o r e

ran k

M. S i b l e y ,

Incorporated March 5, 1850. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the third d ay of January, April, July and October
Dividends are payable the third day of January and July

B

alance

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

A ssets

. $17,800
Public funds
Railroad bonds .
.1,248,575
Street railway bonds
. 143,000
Telephone company bonds .
.
65,000
Bank and trust company stocks . 316,678
19,800
Loans to counties, cities or towns .
“
“ railroad companies
. 120,000
450
“
on railroad stocks
“
“ bank and trust co. stocks
1,200
“
“ depositors’ books
2,645
.2,690,878
“
“ real estate
“
“ personal security
.1,147,336
Bank building and fixtures .
.
37,000
3,000
Real estate by foreclosure, etc.
.
20,000
Premiums .
.
.
.
.
66,474
Deposits in banks, on interest
“
“
“
not on interest
3,730
Cash on hand
.
41,205


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
17
00
00
00
00
00
75
17
00
00
00
28
24
81

$5,944,773 42

Deposits .
Surplus:
Guaranty fund
Profit and loss

Interest, rents, etc.
Less current
Expenses .

. $5,586,624 06
.

257,500 00
29,765 34

. $74,840 06
.

3,956 04

70,884 02

$5,944,773 42

BANK COMMISSIONER

No. 8]

285

Ware Savings Bank — Continued

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Loans to railroad companies .
Bonds and notes which are not now
investments
.
.
.
.

Shs.
5
5
40
68
117
81
156
3 75
34
15
233
187
45
117
75
123
50
10
100
41
50
546
25
25

Estimated
Market Value

Par Value

Schedule of Securities Owned

■SI 7,800
1 ,104,000
145,000
75,000
19,800
75,000

.
.
.

legal
.

Bank and Trust Company Stocks
Greylock National Bank, Adam s
First National Bank, Am herst .
Millers R iver National Bank, A th o l .
Atlantic National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston .
National Bank of the Republic, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
Peoples National Bank, Boston
Second National Bank, Boston
State National Bank, Boston
Trem ont National Bank, Boston
W ebster & A tlas N ’ l Bank, Boston
First National Bank, Eastham pton .
City National Bank, H olyoke .
Monson National Bank, Monson
Southbridge N ’l Bank, Southbridge .
Chapin National Bank, Springfield
Chicopee' National Bank, Springfield .
Union Trust Company, Springfield
W are National Bank, W are
City National Bank, W orcester
W orcester Trust Company, W orcester

00
op
00
00
00
00

$18,554
1,156,747
151,400
67,781
19,800
75,000

otal

A

m ount of

L

oans

on

O

ct

.

Loans on Real
Estate

R ate

“

“

4*
4f
5

“
“
“
“
“
“

“
“
“
“
“
“
“
“

5Ì
Bi

5f

6
6*

“

Totals

!

'

$ 21,700 00
4 5 3 ,9 9 0 00

.
.
.

.
.

1 ,801,490 38

.
•
.
•

413,1 4 5 18
.

.

Average rate


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

553 19

00
00
00
00
00
00

197,600 00

$1,6 4 1 ,6 0 0 00

$1,696,583 50

$ 1 ,6 14,175 00

$500
500
4 ,000
6,800
11,700
8 ,100

00
00
00
00
00
00

37,500
3 ,400
1,500
2 3,300
18,700
1,575
11,700
7,500
12,300
5,000
1,000
10,000
4,100
5,000
54,600

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$925
800
6,800
9 ,5 2 0
25,389
12,960
7,800
108,750
5,440
1,800
50,095
2 7 ,115
45
16,965
7 ,500
14,760
6,000
1,500
10,000
6,150
8 ,000
60,060
25
6,500

$775
780
7,400
9 ,618
15,588
9,259
316
56,250
4,688
2 ,400
37,743
2 5,938

00
00
00
50
00
50
00
00
00
00
50
50

13,659
7,500
13,246
7,500
1,750
14,800
6,975
7,600
67,166

17
00
00
00
00
00
00
00
00

b e a r in g

E

Loans on Personal
Security

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

S p e c if ie d R

Other Loans

$14,0 0 0 00
5 ,800 00
$ 2 6 0,300
150.000
274,8 4 0
120.000
172,196
50 .0 0 0
5 0.000
70 .0 0 0

00
00
00
00
17
00
00
00

5,725 00
$316,678 17

$394,899 00

ach

3-£ per cent.
4~

$17,800
1 ,095,975
143,000
65,000
19,800
7 5,000

207,3 0 0 00

2 ,500 00

31, 1908,

75
50
00
25
00
00

205,0 0 0 00

$231,275 00

T

Book Value

45 .0 0 0 00
4 ,2 9 5 00
75 .0 0 0 00

ate

of

In

terest

Total Loans

$14,0 0 0
27,5 0 0
714,2 9 0
150.000
2 ,1 2 1 ,3 3 0
120.000
589,6 3 6
5 0.000
125,553
70 .0 0 0

00
00
00
00
38
00
35
00
19
00

$2,6 9 0 ,8 7 8 75

$ 1 ,1 4 7 ,3 3 6 17

$1 4 4 ,0 9 5 00

$ 3 ,9 82,309 92

4 .9 8 per cent.

5 .1 2 per cent.

5 .3 5 per cent.

5 .0 3 per cent.

286

[Pub. Doc,

R E PO R T OF THE
Ware Savings Bank — Concluded
T

otal

E

xpen ses

Y

for

Salaries
Am ount paid for
$9,4 3 0 00
% of total assets .1 5 8 6 of 1 %

D

e p o s it s

and

W

,

e a r

e x c l u s iv e

it h d r a w a l s

d u r in g

Y

declared

B

ear

. $6 6 4 ,6 1 0 84
6,685
. $886,959 36
6,852
.
$ 4,457 79

Jan. 3, 1908, 2 %
July 3, 1908, 2 %

Cash

on

D

d u r in g

Y

e p o s it

B

in

M

ear

of

E

x a m in a t io n

,

B

u il d in g

e p o s it

A

and

F

ix t u r e s

$37,0 0 0 00
3 7 ,0 0 0 00
21,7 2 5 00

ccounts

S t a t is t ic s

anks

$30,719 2 0
10,755 08
2 8,730 2 4

L

of

1,068
1,069
10,269
$544 02

oans

N o. not exceeding $3 ,0 0 0 each
513
Am ount of same
.
. $6 1 5 ,8 6 4 9 4
N o. of loans on real estate .
604
Average amount of same
.
$4 ,4 5 5 09
Am ount loaned on real estate
during year
.
.
. $175,0 2 8 27
N o. of new real estate loans
made during year
.
.
30

is c e l l a n e o u s

ate

an k

Num ber opened during year
Num ber closed
“
T otal number O ct. 31, 1908 .
Average balance “
“

N um ber of corporators, 2 5 ; trustees, 10
Gross income rec’d during year . $291,888 19
State ta x (net) paid “
“
.
12,864 12

D

Total
$ 11,437 00
1923 of 1 %

Book value
Estim ated value
Assessed value .

$108,649 57
. 109,241 16 $217,8 9 0 73

First National Bank, Boston
.
N ational Shawmut B ’k, Boston .
W are National Bank, W are
.

a xe s

$1,551 15
0261 of 1 %

D
iv id e n d s

T

Other Expenses

$455 85
.0 0 7 6 of 1 %

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et decrease in deposits

D

State

of

Advertising

Rent

August 1 3

W AREHAM SAVINGS BANK, W A E E H A M
President, J o h n C. M a k e p e a c e
Clerk of the Corporation, F
Board of Investment: G

erard

C. T

o bey

, E

Treasurer, F
ran k

dw ard

A.

A. G

B

ra n k

A. B

esse

esse

am m ons,

John

H

u xtable

Incorporated April 13, 1847. Open for business every business day, except Saturdays,
9 a . m . to 2 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the first Tuesday of January, April, July and October
Dividends are payable the first Tuesday after the first M onday of January and July

B

alance

A ssets

Public funds
Railroad bonds .
Boston Terminal Company bonds
Bank and trust company stocks
Loans to counties, cities or towns
“
on real estate
“
“ personal security
Real estate by foreclosure, etc.
“
in possession
Deposits in banks, on interest
“
“
“
not on interest
Cash on hand


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Sh

eet

, O

ctober

31, 1908
L ia b il it ie s

. $ 66,000 00

. 198,625 00
.
25,000 00
.
88,987 45
.
71,442 78
. 497,015 76
. 223,200 00
.
16,500 00
6,800 00
.
24,114 24
713 33
5,555 87

$1,223,954 43

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.
.
.

.$1,118,924 33
.
.

.
.

Interest, rents, etc. . $47,998 12
Less current
Expenses .
$841 92
Taxes
.
16 60
858 52

57,000 00
890 50

47,139 60
$1,223,954 43

No. 8]

BANK COMMISSIONER

287

Wareham Savings Bank — Continued
Schedule

of

Par Value

Securities O wned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Boston Terminal Company bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.
.
.

Shs.
3
41
131
100
50
30
80
52
74
66
50
25
179

.
.

$60,0 0 0
173,000
25 ,0 0 0
7 1 ,4 4 2

legal
.

00
00
00
78

A

m ount of

L

oans on

O

ct.

“

41

“

“

4i

“

“

4f

“

“

5
5i
6
6i

“

“

6f
7

“
“

“

“

“

“

“

“
“

T otals

.
■
.
.
.
.
.
.
.

“

.
•
.
.
.
.
.
.
.

32 ,8 5 0 00
$361,067 78

00
00
00
00
00

$330
5,740
13,100
21,7 0 0
8 ,0 0 0
1,500
23,2 0 0

-

8 ,0 0 0 00
00
00
00
00
00

15,910
9 ,5 7 0
5 ,250
4 ,9 5 0
19,690

.

T

ach

$36,000 00
4 ,300 00
$15,0 0 0
45 ,8 0 0
15.000
5 7,400
2 5 .0 0 0
50.000
15.000

otal

E

and

W


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$88,987 45

ate

of

I

n terest

Other Loans

Total Loans

$23,5 0 0
31,9 4 2
5 .000
6.000
5 ,000

$23,5 0 0
67,942
5 ,000
10,300
20 ,0 0 0
427,7 8 5
20 ,1 0 0
127,030
25 .0 0 0
50.000
15.000

00
78
00
00
00

00
78
00
00
00
76
00
00
00
00
00

$ 2 2 3,200 00

$71,442 78

$791,658 54

5 .0 6 per cent.

5 .9 6 per cent.

4 .0 2 per cent.

5 .2 1 per cent.

xpen ses

it h d r a w a l s

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
.Net increase in deposits

00
00
00
00
00
00
00

S p e c if ie d R

50
26
70
84
50
00
00
80
32
77
28
50
98

$ 4 9 7,015 76

Salaries
A m ount paid for
$2 ,1 0 0 00
% of total assets .1 7 1 5 of 1 %
e p o s it s

E

00
00
00
00
00

$ 1 2 8,940 00

Loans on Personal
Security

“

Average rate

D

b e a r in g

$322
4,679
11,737
10,949
7,053
10
12,000
8
7,572
8 ,9 3 7
5,428
2,612
1 7,674

00
00
00
00
00
00
00

-

-

7 ,400
6 ,600
5,000
2 ,5 0 0
17,900

381,9 8 5 76
5,100 00
6 9,630 00

00
00
00
78

34,6 5 0 00

_

3 f per cent.
4

$60,0 0 0
171,775
25 ,0 0 0
71,442

00
00
00
78

$353,409 78

$300
4 ,100
13,100
10,000
5,000

31, 1908,

Loans on Real
Estate

Rate

$57,337
165,480
24,5 0 0
71,442

36 ,0 0 0 00

Bank and Trust Company Stocks
Andover National Bank, Andover
Atlantic National Bank, Boston
B oylston National Bank, Boston
Merchants National Bank, Boston
National Bank of Commerce, Boston .
N ’l Bank of the Republic, Boston
National Shawmut Bank, Boston
National Suffolk Bank, Boston .
Second National Bank, Boston .
W ebster & A tlas N ’l Bank, Boston
Falm outh National Bank, Falm outh .
Merchants N ’l Bank, New Bedford
N ational Bank of W areham , W areham

otal

Book Value

$365,442 78

$79,900 00

T

Estimated
Market Value

.

for

Y

e a r

,

e x c l u s iv e

Rent
$675 00
.0 551 of 1 %
d u r in g

Y

ear

. $ 2 1 0,205 25
3 ,165
$225,499 60
2 ,286
$26,1 0 4 75

of

State

Advertising

D

e p o s it

T

a xes

Other Expenses
$482 96
.0 3 9 4 of 1 %
A

Total
.$3,257 96
.2 6 6 0 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
T otal number Oct. 31, 1908 .
Average balance “
“

574
499
3,389
$330 16

288

REPORT OF THE

[Pub. Doc,

Wareham Savings Bank — Concluded
D

iv id e n d s

declared

Jan., 1908, 2 % .
July, 1908, 2 % .
Cash

on

D

Y

d u r in g

. $20,175 77
. 2 1,223 33

e p o s it

B

in

ear

S t a t is t ic s

$41,399 10

anks

Boston Safe D . & T r . Co., Boston . $ 2 4 ,1 1 4 24
N ’l B ’k of W areham , W areham .
713 33
M

is c e l l a n e o u s

of

L

oans

N o. not exceeding $ 3,000 each
246
A m ount of same
.
. $200,083 54
N o. of loans on real estate .
222
Average amount of same
.
$ 2,238 8 0
A m ount loaned on real estate
during year
.
.
. $142,925 00
N o. of new real estate loans
made during year .
.
48

Num ber of corporators, 2 5 ; trustees, 13
Gross income rec’d during year . $56,3 1 5 52
State ta x (net) paid “
“
.
2 ,5 5 8 41

D

ate

of

E

x a m in a t io n

,

September 8

W ARREN SAVINGS BANK, W ARREN
President, W

il l ia m

A . Jen k s
Treasurer, F r e d e r i c k W . K
Clerk of the Corporation, J o s e p h G. H a s t i n g s

Board of Investment: E
I

dw ard

saac

F

a ir b a n k s

E. M

oore

, F

, M

B

arcus

r e d ’k

W. K

urrou gh s,

E

im b a l l

J. B

dgar

uck

,

im b a l l

Incorporated Feb. 24, 1882. Open for business every business day, except Saturdays,.
9 a . m . to 1 p . m . , 2 to 4 p . m . ; Saturdays, 9 a . m . to 12 m .
Deposits commence to draw interest the first day of January, April, July and October
Dividends are payable the fifteenth day of April and October

B

alance

Sh

eet

, O

ctober

31, 1908

A ssets

Public funds
Railroad bonds .
Telephone company bonds .
Bank and trust company stocks
Loans to counties, cities or towns
“
“ railroad companies
on railroad stocks
“ real estate
“ personal security
Real estate by foreclosure, etc.
in possession
Deposits in banks, on interest
Cash on hand
Checks and cash items

L ia b il it ie s

.
.

$11,000
147,542
9,050
4,218
9,000
.
30,000
300
. 445,227
8,871
2,634
2,097
.
35,507
3,977
222

00
50
00
75
00
00
00
75
76
46
50
64
79
73

Deposits .
Surplus:
Guaranty fund
Profit and loss

$671,847 65
23,492 38
11,310 62

Interest, rents, etc.
Less current
Expenses .

.

$3,104 75
104 52

$709,650 88

S chedule

op

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investm ents
.
.
.
.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$709,650 88

Par Value

S ecurities O w ned

.
.

legal
.

3,000 23

$11,0 0 0
150,000
10,000
9 ,0 0 0

00
00
00
00

Estimated
Market Value

Book Value

$11,0 0 0
1 40,350
9 ,0 3 7
9 ,0 0 0

$11,0 0 0
147,542
9 ,0 5 0
9 ,0 0 0

00
00
50
00

00
52
00
00

3 0 ,0 0 0 00

30 ,4 2 5 00

30 ,0 0 0 00

$2 1 0 ,0 0 0 00

$199,812 50

$206,592 52

BANK COMMISSIONER

No. 8]

289

Warren Savings Bank — Concluded
S chedule

of

Estimated
Market Value

Par Value

Securities O w ned

Shs.
Bank and Trust Company Stocks
3 National Bank of Commerce, Boston .
6 Trem ont National Bank, Boston
2 W ebster & A tlas N ’l Bank, Boston
3 Conway National Bank, Conway
10 City National Bank, H olyoke
10 H a dlev Falls National B ’k, H olyoke .
10 H om e National Bank, H olyoke .
9 A gaw am National Bank, Springfield .
8 City National Bank, W orcester .

$300
210
2 00
300
1,000
1,000
1,000
123

00
00
00
00
00
00
00
75

$480
6
29 0
300
1,200
1,380
1,250

of

L oans

on

3 4 per cent.
4
“
“
4| “
“
5
“
“
“

.

•

.

.

Average rate

E

and

W

300 00

5 .0 6 per cent.

5 .1 8 per cent.

4 .7 2 per cent.

xpen ses

it h d r a w a l s

for

Y

e a r

,

e x c l u s iv e

Rent
$300 00
.0 4 2 2 of 1 %
d u r in g

.

Y

ear

. $94,218 97
1,381
$134,783 39
1,607
$14,607 48

State

of

Advertising
—
D

e p o s it

A

declared

April, Ì9 0 8 , 2 %
O ct., 1908, 2 %
Cash

on

D

d u r in g

Y

. $13,051 85
. 12,905 09

e p o s it

in

B

anks

Pynchon N ’l Bank, Springfield .
Springfield N ’l Bank, Springfield .
Springfield Safe Deposit & Trust
Company, Springfield
.
.
Third National Bank, Springfield
U nion Trust Co., Springfield
.
W orcester Trust Co., W orcester .
M

5 .0 4 per cent.

axes

Total
$1,6 07 70
.2 2 6 3 o f 1 %

ccounts

Num ber opened during year
N um ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.
of

L

194
231
2 ,1 8 6
$307 34

oans

No. not exceeding $ 3,0 0 0 each
170
A m ount of same
.
. $275,129 29
N o. of loans on real estate .
203
$25,956 94
Average amount of same
.
$2,193 24
Am ount loaned on real estate
during
year
.
.
.
$48,950
00
$118 54*
2 ,026 74 N o. of new real estate loans
m ade during year .
.
16
8 ,6 1 6 97
D
a
t
e
o
f
E
x
a
m
i
n
a
t
i
o
n
,
August
11
13,902 07
7 ,2 8 4 42
3 ,558 90
ear

is c e l l a n e o u s

N um ber of corporators, 4 4 ; trustees, 11
Grosji income rec’d during year . $32,847 02
State ta x (net) paid “
“
.
1,102 71


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
76
93
82
00

$493,399 51

Other Expenses
$107 70
0151 of 1 %

S t a t is t ic s
iv id e n d s

T

Interest

$ 4,000
5 ,000
4,371
4 3 6 ,0 1 4
2 9,042
14,970

30 ,0 0 0 00

$8,871 76

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits
D

-

Total Loans

$445,227 75

Salaries
Am ount paid for
$ 1,200 00
% of total assets .1 6 9 0 of 1 %
e p o s it s

76
00
00
00

00
00
00
00
00
75

$ 4,218 75

ate of

Other Loans

$39,3 0 0 00

.

otal

$4,371
725
25
3 ,7 5 0

$405,289 93
29,017 82
10,920 00

“

T

-

160
3 00
1,125
1,250
1,030
23

$4 ,0 0 0 00
5,000 00

.

D

E a c h S p e c if ie d R

.

6

T otals

b e a r in g

$330 00

$ 4,914 00

Loans on Personal
Security

Loans on Real
Estate

R ate

5Ì

O c t . 31, 1908,

00
00
00
00
00
00
00

8 00

$4,133 75

T otal A m ou nt

Book Value

* In liquidation.

REPORT OF THE

290

[Pub. Doc

W ARREN FIVE CENTS SAVINGS BANK, PEABODY
President, A

rth ur

Board of Investment:

A

F. P o o l e
Treasurer, A
Clerk of the Corporation, A . H . M e r r i l l
rth u r

L

evi

F. P
P

oole

resto n

, G e o r g e E. S p a u l d in
, W m . F red M unroe

g

lbert

, W

H. M

il l ia m

Incorporated April 28, 1854. Open for business every business day, 8 .3 0
also Saturdays, 7 to 9 p . m ., for deposits only

a .m

.

e r r il l

F. S a w

y e r

to 1.15

p .m

,

.;

Deposits commence to draw interest the third W ednesd ay of February, M ay, August
and Novem ber. Dividends are payable the third W ednesd ay of M ay and N ovem ber

B

alance

Sh

eet

, O

ctober

31,

1908

L ia b il it ie s

A ssets

$479,040
Public funds
.
.
.
.
481,812
Railroad bonds . . .
100,000
Street railway bonds
Telephone company bonds .
19,275
Bank and trust company stocks
91,069
4,500
Loans to counties, cities or towns .
15,000
“
on bank and trust co. stocks
1,478,815
“
“ real estate
702,206
“
“ personal security
28,000
Bank building and fixtures .
Taxes, insurance, etc., paid on
95
mortgaged properties
44,764
Deposit in bank, on interest
Cash on hand
.
.
.
.
3,551
2,295
Checks and cash items

00
50
00
00
00
00
00
00
29
00

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$3,076,031 58
.
.

Interest, rents, etc.

66,718 06

14
62
70
00

$3,450,424 25

S chedule

op

Shs.
107
50
100
44
50
22
35
50
18
2 00
33
50
97
48
100
19
9
11

.
.
.

Estimated
Market Value

$398,500
473,000
8 5,000
22 ,0 0 0
4,500

00
00
00
00
00

$ 4 0 2,232
486,5 8 5
8 8 ,8 5 0
19,882
4 ,505

50
00
00
50
62

Book Value

$39 8 ,0 4 0
471,812
8 5 ,0 0 0
19,275
4 ,5 0 0

00
50
00
00
00

legal

Bank and Trust Com pany Stocks
Atlantic National Bank, Boston
Eliot National Bank, Boston
Faneuil H a ll National Bank, Boston .
First National Bank, Boston
Merchants National Bank, Boston
M t. Vernon National Bank, Boston .
New England National Bank, Boston
National B ank of the Republic, Boston
Second National Bank, Boston
National Shawmut Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas N ’l Bank, Boston
National Grand Bank, Marblehead
W arren National Bank, Peabody
Asiatic National Bank, Salem .
National Exchange Bank, Salem
Merchants National Bank, Salem


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$3,450,424 25

Par Value

S ecurities O w ned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Telephone com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now
investments
.
.

152,500 00
155,174 61

106,000 00

107,620 00

106,000 00

$1,0 8 9 ,0 0 0 00

$ 1 ,1 0 9 ,6 7 5 62

$ 1 ,0 8 4 ,6 2 7 50

$ 10,700
5,000
10,000
4,400
5.000
1,859
3,500

00
00
00
00
00
00
00

$10,7 0 0
5 ,000
10,000
4 ,400
5 ,000
559
3 ,5 0 0

1,800
2 0 ,000
3 ,300
1,750
9 ,700
4 ,800
10,000
1,900
315
550

00
00
00
00
00
00
00
00
00
00

$14,9 8 0
9 ,7 5 0
13,800
13,816
10,850
484
4 ,9 0 0
2 ,5 0 0
3 ,8 7 0
5 8 ,000
4 ,785
50
14,065
5 ,520
10,500
1,900
45
8 80

$ 94,574 00

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$1 7 0 ,6 9 5 00

00
00
00
00
00
00
00
-

1,800 00
20 ,0 0 0 00
3 ,3 0 0 00
-

9 ,7 0 0
4 ,5 9 5
1 0,000
1,900
65
550

00
00
00
00
00
00

$91,069“ 00

BANK COMMISSIONER

No. 8]

291

Warren Five Cents Savings Bank — Concluded
T

A

otal

m ount of

L

oans on

“

5f
6

“
“

“
“

T otals

.
.

.
.

.
•
.
.
.

.
.

$ 32,000
217,0 0 0
20 ,0 0 0
1 ,135,685

T

W

00
00
00
00

$110,000
150.000
81,600.
7 0.000
120.000
5 0.000
120,606

$19,5 0 0 00

4 .9 4 per cent.

5 .2 0 per cent.

4 .9 6 per cent.

xpen ses

it h d r a w a l s

.

for

Y

ear

,

e x c l u s iv e

d u r in g

Y

B

ear

. $395,042 22
6,204
$482,375 79
5,560
$30,249 75

N o v ., 1907, 2 %
M ay, 1908, 2 %
D

e p o s it

B

in

.

$44,7 6 4 62

is c e l l a n e o u s

ate

of

E

x a m in a t io n

,

u il d in g

A

e p o s it

00
00
00
00
00
00
00
00
29

5 .0 2 per cent.

a xes

and

.
.
.
.

F

Total
$8,243 24
.2 3 8 6 of 1 %
ix t u r e s

.
.
.
.

$28,000
38 ,0 0 0
32 ,0 0 0
316

00
00
00
35

ccounts

872
831
7 ,084
$ 434 22

ank

N um ber of corporators, 4 1 ; trustees, 20
Gross income rec’d during year . $ 1 6 2,990 81
State ta x (net) paid “
“
.
8 ,240 99
D

B

terest

$2,200,521 29

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
.

ear

. $58,7 2 0 39
. 58,862 93 $117,583 32

W arren National B ’k, Peabody
M

Y

d u r in g

an k

T

In

$ 4,500
32.0 0 0
3 2 7 .0 0 0
170.000
1 ,217,285
85 .0 0 0
179,445
5 0.000
135,291

Other Expenses
$ 1,345 39
.0 3 8 9 of 1 %

Book value
.
Estim ated value
Assessed value .
N et income
.
D

declared

State

of

Advertising
$161 25
.0 0 4 6 of 1 %

Rent
$1 ,0 0 0 00
.0 2 8 9 of 1 %

of

Total Loans

$7 0 2 ,2 0 6 29

14,685 00

E

otal

and

iv id e n d s

on

ate

Other Loans

$ 1 ,4 7 8 ,8 1 5 00

Am ount of deposits .
N um ber of same
A m ount of withdrawals
N um ber of same
N et increase in deposits

Cash

S p e c if ie d R

ach

15,000 00

Salaries
A m ount paid for
$ 5,736 60
% of total assets .1 6 6 2 of 1 %

D

E

Loans on Personal
Security

5 9 ,445 00

.

e p o s it s

b e a r in g

00
00
00
00
00
00
29

.

Average rate

D

. 31, 1908,

$4 ,5 0 0 00

4 per cent.
4i “
«
4i «
“
4r| “
“
5
“
“
5* “
“
“

ct

Loans on Real
Estate

R ate

Bi

O

Novem ber 27

S t a t is t ic s

L

of

oans

N o. not exceeding $ 3,000 each
226
Am ount of same
.
. $ 2 8 4,335 00
N o. of loans on real estate .
348
Average amount of same
.
$4,249 46
A m ount loaned on real estate
during year
.
.
. $3 1 0 ,5 2 5 00
No. of new real estate loans
made during year .
.
61

W ARREN INSTITUTION FOR SAVINGS (CHARLESTOWN
DISTRICT) BOSTON
President, C h a r l e s R . L a w r e n c e
Clerk of the Corporation, M
Board of Investment: C h a r l e s R . L
G

eo

. N. Sw

allow

, Jam

es

A

aw ren ce

dam s,

Ch

, Jam

arles

Treasurer, F
arsh all

es

H. W

F. F

ran k

D. B

row n

Jones
, H e n r y H. Ch a n d
, J a m e s W . A u s t in

h it m a n

a ir b a n k s

ler

,

Incorporated Feb. 21, 1829. Open for business every business day, except Saturdays,
9 a . m . to 2 p . m . ; Saturdays, 9 a . m . to 12 m . ; also W ednesdays, 3 to 4 p . m .
Deposits commence to draw interest the third W ednesday of January, April, July and
October. Dividends are payable the third W ednesday of April and October


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

REPORT OF THE

292

[Pub. Doc

Warren Institution for Savings, etc., Boston — Continued
B

alance

Sh

eet

, O

31,

ctober

1908

A ssets

Public funds
. . .
.
$1,879,000
Railroad bonds .
.
.
.1,590,000
Street railway bonds .
.
. 100,000
Boston Terminal Company bonds . 100,000
Bank and trust company stocks .
83,200
Loans to counties, cities or towns . 453,600
“
on real estate
.
.
.4,974,610
“
“ personal security
.
.1,975,100
Bank building and fixtures
.
.
34,500
Taxes, insurance, etc., paid on
mortgaged properties
.
.
201
Deposits in banks, on interest
. 276,898
Cash on hand
.
.
.
.
21,110

00
00
00
00
00
00
00
00
00
32
20
34

L ia b il it ie s

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

$10,502,768 80

.
.

.
.

.
.

Interest, rents, etc.
. $26,327 78
Less current
Expenses . $1,976 59
Taxes
.
854 70
2,831 29

$11,488,219 86

Schedule

op

Public funds
.
.
.
.
.
Railroad bonds
.
.
.
.
.
Street railway bonds
.
.
.
.
Boston Terminal Com pany bonds
Loans to counties, cities or towns
Bonds and notes which are not now legal
investments
.
.
.
.
.

Estimated
Market Value

00
00
00
00
00

otal

A

m ount of

oans on

O

ct.

.
.
.
.

50,000 00
$4,1 2 2 ,6 0 0 00

$ 6,225
3 0,810
7,850
2 4,070
32 ,0 0 0
16,240
9 ,245
20 ,0 1 0
54
4 ,785
3 ,045

$1,500
15,800
2 ,500
8 ,300
2 0,000
11,600
4,300
13,800


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

b e a r in g

00
00
00
00
00
00
00
00
00
00
00

_
—

6 7,000 00

E

ach

Loans on Personal
Security

_

-

.

00
00
00
00
00

50,000 00

—

$ 4 8 6,000 00
360,0 0 0 00
1 ,6 0 7,900 00

$ 1 ,8 29,000
1,590,000
100,000
100,000
453,600

$ 4 ,0 32,035 00

15,800
2 ,500
8 ,300
2 0,000
11,600
4,300
13,800
1,890
3 ,300
2 ,1 0 0

31, 1908,

Loans on Real
Estate

Rate

3 .1 0 per cent.
3 .1 5 “
“
3£
“
“
3f
“
“
3 .9 0 “
“
4
“
“
41
“
“
4i
“
“

L

50
00
00
00
50

50,000 00

$85,090 00

T

$1,792,527
1 ,543,300
100,000
98 ,0 0 0
448,207

Book Value

$ 4 ,1 22,600 00
O
O
IO

Bank and Trust Company Stocks
City Trust Co., Boston
Eliot National Bank, Boston
First National Bank, Boston
National Shawmut Bank, Boston
National Union Bank, Boston .
New England National B ’k, Boston
Second National Bank, Boston
State National Bank, Boston
Tremont National Bank, Boston
W ebster & A tlas N ’ l Bank, Boston
Naum keag National Bank, Salem

$ 1 ,8 29,000
1 ,590,000
100,000
100,000
453,600

&

Shs.
15
158
25
83
2 00
116
43
138
54
33
21

23,496 49

*11,488,219 86

Par Value

S ecurities O wned

519,400 00
442,554 57

$154,334 00

S p e c if ie d R

Other Loans

$26,1 0 0 00
100,000 00

—
—

00
00
00
00
00
00
00
00
00
00
00

_

5 0,000
15,000
137,500
25 ,0 0 0
5 0,000

00
00
00
00
00

ate

00
00
00
00
00
00
00
00

3 ,300 00
2,100 00
$ 83,200 00

of

I

nterest

Total Loans

$26,100
100,000
4 86,000
4 1 0 ,0 0 0
15,000
1 ,745,400
2 5 ,0 0 0
117,000

00
00
00
00
00
00
00
00

BANK COMMISSIONER

No. 8]

293

Warren Institution for Savings, etc., Boston— Concluded
T

otal

A

m ount of

L

oans on

O

ct

. 31, 1908,

b e a r in g

E

S p e c if ie d R

ach

ate

of

In

terest

— Concluded
Loans on Real
Estate

Loans on Personal
Security

$606,550
15,000
1,745 ,7 1 0
6 ,000
5 0,850
29 ,6 0 0

$ 1 ,0 29,600
35 .0 0 0
290,5 0 0
25 .0 0 0
160,000
110,000
7 5.000
170,000
8 0 .0 0 0

R ate

Al\ per cent.
4£

“
“
“

5i “ “

.
.
.
.

.
.
.
.

6
6i
6f

.
.
■

.
.

.

.

5
5i

“
“
“

“
“
“

7

“
“
“

“ “
Totals

.

Average rate

T

otal

E

e p o s it s a n d

W

iv id e n d s

Ca sh

D

on

$ 4 5 3,600 00

$ 7 ,4 0 3 ,3 1 0 00

3 .8 1 per cent.

4 .5 5 per cent.

Y

ear

,

e x c l u s iv e

Rent
$2,232 98
.0 1 9 4 of 1 %
d u r in g

Y

d u r in g

Y

ear

B

in

of

E

x a m in a t io n

,

B

an k

B

T

a xes

Other Expenses
$ 4,327 16
.0 3 7 6 of 1 %

u il d in g

and

D

e p o s it

A

F

Total
$ 2 6 ,8 7 4 69
.2 3 3 8 of 1 %
ix t u r e s

.
.
.

. $34,5 0 0 00
.
45 ,0 0 0 00
.
51 ,8 0 0 00

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number Oct. 31, 1908 .
Average balance “
“
St a t is t ic s

. $154,936 64
. 121,961 56

is c e l l a n e o u s

ate

St a te

Book value
.
Estim ated value
Assessed value .

anks

N um ber of corporators, 9 5 ; trustees, 19
Gross income rec’d during year . $484,229 24
State ta x (net) paid “
“
.
26,547 48
D

of

Advertising
$48 00
.0 0 0 4 of 1 %

ear

$ 1 ,0 82,232 04
11,204
$1,3 6 9 ,0 9 0 17
13,871
. $112,181 30

City Trust Co., Boston
.
Second National Bank, Boston
M

for

$198,609 05
. 2 0 0 ,4 3 0 38 $399,039 43

e p o s it

00
00
00
00
00
00
00
00
00

5 .1 2 per cent.

it h d r a w a l s

April, 1908, 2 %
O ct., 1 9 0 8 ,2 %

$1,6 8 6 ,1 5 0
5 0.000
2 ,0 3 6 ,2 1 0
3 1 .0 0 0
210,8 5 0
139,600
7 5.000
170,000
8 0 .0 0 0

$ 1 ,9 7 5 ,1 0 0 00

xpen ses

declared

$50,000 00

4 .3 8 per cent.

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et increase in deposits
D

00
00
00
00
00
00
00
00
00

Total Loans

$ 4 ,9 7 4 ,6 1 0 00

Salaries
Am ount paid for $ 20,266 55
% of total assets .1 7 6 4 of 1 %
D

00
00
00
00
00
00

Other Loans

of

L

1,427
1,559
20,809
$504 72

oans

N o. not exceeding $ 3,0 0 0 each
601
Am ount of same
.
. $916,185 00
No. of loans on real estate .
816
Average am ount of same
.
$ 6,096 33
Am ount loaned on real estate
during year
.
.
. $ 4 4 8,650 00
N o. of new real estate loans
made during year .
.
104

December 10, 11

W ASHINGTON SAVINGS INSTITUTION, LOW ELL
President, J o h n J . H o g a n
Clerk of the Corporation, T
Board
G
R

of
eo

.

Treasurer, T
h os.

H.

M

h os.

H. M

urph y

urph y

Investment: J o h n J . H o g a n , P a t r i c k O ’ H e a r n , T h o m a s C . L e e ,
M. H a r r i g a n , P e t e r F . C o n a t o n , L e m u e l W . H a l l , C h a r l e s H . H a n s o n ,

obert

E . Cr

o w ley

Incorporated M ay 23, 1892.

Open for business every business day, 9
also Saturdays, 7 to 9 p . m .

a .m

.

to 1

p .m

.:

Deposits commence to draw interest the second Saturday of February, M ay, August and
Novem ber. Dividends are payable the second Saturday of February and August


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

REPORT OF THE

294

[Pub. Doc

Washington Savings Institution — Continued
B

alance

Sh

eet

, O

ctober

31, 1908

A ssets

L ia b il it ie s

$54,809
Public funds
.
.
.
.
88,794
Railroad bonds .
.
.
.
Loans to counties, cities or towns . 109,595
1,000
“ on bank and trust co. stocks
“
“ depositors’ books .
375
“
“ real estate
1,276,040
“
“ personal security
228,025
1,000
Real estate in possession
Taxes, insurance, etc., paid on
605
mortgaged properties
3,500
Furniture and fixtures
87,398
Deposits in banks, on interest
3,292
Cash on hand
.
.
.
.
1
Checks and cash items

70
13
00
00
00
86
00
00

.$1,803,149 80

Deposits .
Surplus:
Guaranty fund
Profit and loss

37,000 00
781 56

Interest, rents, etc.
Less current
Expenses .

56
00
93
48
25

. $14,546 70
.

1,040 15

$1,854 437 91

S chedule

op

T

otal

A

m ount of

L

oans on

Totals

$ 55,250 00
90 ,0 0 0 00
109,595 00

$55,6 9 0 00
8 1 ,9 1 0 00
1 09,430 00

$54,809 70
8 8 ,7 9 4 13
109,595 00

$ 2 5 4,845 00

$247,0 3 0 00

$253,198 83

O

.
.

ct.

31, 1908,

b e a r in g

E

ach

Loans on Personal
Security

S p e c if ie d R

.
$ 1 2 7,650 00
1 ,097,540 86

5 0,850 00

T

otal

E

and

W

terest

$ 4,500
20 ,1 3 5
5,172
27 ,2 2 0
37 ,5 6 8
1 27,650
1,268 ,2 1 5
25 .0 0 0
15.000
8 4,575

00
00
00
00
00
00
86
00
00
00

$228,0 2 5 00

$1 1 0 ,9 7 0 00

$ 1 ,6 1 5 ,0 3 5 86

4 .9 8 per cent.

5 .2 0 per cent.

4 .1 8 per cent.

4 .9 6 per cent.

xpen ses

it h d r a w a l s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

00
00
00
00
00

15,000 00
375 00

33 ,3 5 0 00

In

$ 1 ,2 7 6 ,0 4 0 86

Salaries
A m ount paid for
$ 3 ,442 03
% of total assets .1 8 5 6 of 1 %

Am ount of deposits .
N um ber of same
A m ount of withdrawals
Num ber of same
N et increase in deposits

of

Total Loans

1,000 00

$169,675 00
25 ,0 0 0 00

•
.

ate

Other Loans

$ 4,500
20 ,1 3 5
5,172
27 ,2 2 0
37 ,5 6 8

.

e p o s it s

Book Value

•
■

Average rate

D

Estimated
Market Value

Par Value

Loans on Real
Estate

Rate

3 .3 0 per cent.
3Ì
“
“
3£
“
“
4
“
“
R
»
“
4*
“
“
5
“
“
5*
“
“
5f
«
“
6
“
“

$1,854,437 91

Securities O w ned

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Loans to counties, cities or towns

13,506 55

for

Y

ear

,

e x c l u s iv e

Rent
$825 00
.0 4 4 4 of 1 %
d u r in g

Y

ear

. $449,189 38
6,690
. $493,187 60
6,757
. $23,3 0 5 01

of

State

Advertising
$361 60
.0 1 9 4 of 1 %
D

e p o s it

T

axes

Other Expenses
$981 82
.0 5 2 9 of 1 %
A

Total
$ 5 ,610 45
.3 0 2 3 of 1 %

ccounts

Num ber opened during year
Num ber closed
“
“
T otal number O ct. 31, 1908 .
Average balance “
“

1,000
976
4,853
$371 55

No. 8]

BANK COMMISSIONER

295

Washington Savings Institution — Concluded
D

iv id e n d s

declared

F eb., 1908, 2 %
A u g ., 1908, 2 %

d u r in g

Y

. $33,382 76
. 3 3 ,9 2 0 47

S t a t is t ic s

ear

of

L

oans

N o. not exceeding $ 3 ,0 0 0 each
504
Am ount of same
.
. $6 4 6 ,5 5 0 86
N o. of loans on real estate .
573
C a s h o n D e p o s it in B a n k s
Average amount of same
.
$ 2 ,226 95
First National Bank, Boston
. $19,052 83 Am ount loaned on real estate
Lowell Trust Co., Lowell
.
*
68,346 10*
during year
.
.
. $ 1 5 8,905 00
N o. of new real estate loans
M is c e l l a n e o u s
made during year .
.
65
Num ber of corporators, 2 8 ; trustees, 14
Gross income rec’d during year . $85,866 33 D a t e o f E x a m i n a t i o n , N ovem ber 19, 20
State ta x (net) paid “
“
.
2,779 32
$67,303 23

* This amount, in excess of legal limit, has since been reduced.

W ATERTOW N SAVINGS BANK, W ATERTOW N
President, J u l i a n A . M e a d
Clerk of the Corporation, W
Board of Investment: J u l i a n A . M

ead

, H

Treasurer, J o h n F. G
ard

erbert

H .

M. O
Sa

reen

t is

w y e r

, G

eorge

S. W

r ig h t

Incorporated April 18, 1870. Open for business every business day, except Saturdays,
9 a . m . to 3 p . m . ; Saturdays, 9 a . m . to 1 p . m . ; also Thursdays, 7 to 8 .4 5 p . m .
Deposits commence to draw interest the first Thursday of January, April, July and October
Dividends are payable the fifteenth day of April and October

B

alance

Sh

eet

, O

ctober

31, 1908

A ssets

Public funds
Railroad bonds .
Street railway bonds
Boston Terminal Company bonds
Bank and trust company stocks
Loans on real estate
“
“ personal security .
Bank building and fixtures .
Real estate by foreclosure, etc.
Deposits in banks, on interest
Cash on hand
Checks and cash items

L ia b il it ie s

$157 ,8 3 0
2 69,700
77,000
44,5 00
6,800
738,468
4,100
38,4 45
3 8,684
3 5,5 02
3,181
131

50
00
00
00
00
00
00
46
26
67
09
25

Deposits .
.
Surplus:
Guaranty fund
Profit and loss

.

.

.$ 1 ,3 3 9 ,8 5 6 24
5 2,190 62
22,0 52 92

Interest, rents, etc.
Less current
Expenses .

$730 76
4 8 7 31

$1,4 14 ,3 4 3 23

S chedule

op

Public funds
.
.
.
.
Railroad bonds
.
.
.
.
Street railway bonds
.
.
.
Boston Terminal Company bonds
Bonds and notes which are not now
investments
.
.
.
.

.
.
.
legal
.

Shs.
Bank and Trust Company Stocks
42 National Shawmut Bank, Boston


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$1,4 14 ,3 4 3 23

Par Value

Se curities O wned

243 45

$141,800
263,000
35,0 0 0
40,000

00
00
00
00

Estimated
Market Value
$141,995
2 4 2 ,0 9 0
3 4 ,825
39 ,2 0 0

00
00
00
00

Book Value

$147,830
269,7 0 0
35,0 0 0
4 4,500

50
00
00
00

48,000 00

4 8,830 00

52,000 00

$527,800 00

$ 5 0 6,940 00

$549,030 50

$4,200 00

$12,180 00

$6,800 00

REPORT OF THE

296

[Pub. Doc,

Watertown Savings Bank — Concluded
T

A

otal

m ount of

L

4-|- per cent.
5
“
“
5i “
“
5f “
“
6
“
“

.
.
.
.

otal

E

W

Ca sh

on

D

e p o s it

of

E

$742,568 00

-

5 .0 2 per cent.

for

Y

ear

,

e x c l u s iv e

Rent
$642 43
.0 4 5 4 of 1 %

d u r in g

Y

ear

$251,413 10
4,488
$340,231 37
3,923
$44,673 97

B

,

00
00
00
00
00

-

Y

. $21,992 80
. 22,151 50

x a m in a t io n

$43,5 0 0
639,368
4 5,000
2 ,0 0 0
12,700

—

$ 4 ,1 0 0 00

ear

$44,1 4 4 30

-

-

St a te

of

Advertising
$74 40
.0 0 5 3 of 1 %

B

an k

B

$ 3 ,478
25,3 7 6
1,060
5,586

77
91
92
07

T

a xes

Other Expenses
$782 11
.0 5 5 2 of 1 %

u il d in g

F

and

Total
$5,9 4 4 44
.4 2 0 2 of 1 %

ix t u r e s

Book value
Estim ated value
Assessed value .
D

e p o s it

A

$38,445 46
3 8,445 46
28 ,3 5 0 00

ccounts

Num ber opened during year
Num ber closed
“
“
T otal num ber Oct. 31, 1908 .
Average balance “
“
S t a t is t ic s

anks

is c e l l a n e o u s

ate

Total Loans

_

Num ber of corporators, 2 8 ; trustees, 14
Gross income rec’d during year . $62,279 82
State ta x (net) paid “
“
.
2 ,588 87
D

terest

5 .6 2 per cent.

Boston Safe D. & T . Co., Boston .
Faneuil H a ll NT Bank, Boston .
N ational Shawmut Bank, Boston
U nion Market N T B ’k, W atertow n
M

Other Loans

In

$ 7 3 8,468 00

d u r in g

in

of

5 .0 2 per cent.

it h d r a w a l s

April, 1908, l f %
O ct., 1908, l f %

ate

—

xpen ses

declared

S p e c if ie d R

ach

—

—

Am ount of deposits .
N um ber of same
Am ount of withdrawals
N um ber of same
N et decrease in deposits
iv id e n d s

E

Loans on Personal
Security

12,700 00

Salaries
Am ount paid for
$ 4,445 50
% of total assets .3 1 4 3 of 1 %

e p o s it s a n d

b e a r in g

$ 2,100 00
2 ,0 0 0 00
-

.
.

.

T

D

31, 1908,

$ 43,500 00
6 39,368 00
42 ,9 0 0 00

.

Average rate

D

.

ct

Loans on Real
Estate

Rate

T otals

O

oans on

of

L

556
671
4,093
$327 35

oans

N o. not exceeding $ 3 ,0 0 0 each
219
A m ount of same
$355,749 00
N o. of loans on real estate .
276
Average amount of same
$2,675 60
Am ount loaned on real estate
during year
$50,800 00
N o. of new real estate loans
made during year .
24

June 23

WEBSTER FIVE CENTS SAVINGS BANK, WEBSTER
President, G

eorge

T racy
Treasurer, F r e d e r i c k W . J o h n s o n
Clerk of the Corporation, L o