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Public Document

No. 8

€:bt Commontoealtlb of g^a00act)u$ett0

ANNUAL REPORT

COMMISSIONER OF BANKS
Year ending October

Part
RELATIlSrG

31, 1923

III
TO

CO-OPERATIVE BANKS, SAYINGS AND LOAN
ASSOCIATIONS

Department of Banking and Insurance

Publication of this Document approved by the Commission on Administration and Financb

C!)e Commontoealtf) of ^a00ac[)U0ett0

Office of the Commissioner of Banks,
State House, Boston, January 16, 1924.

To

the

General Court of Massachusetts:

The annual

report of the Commissioner of Banks, required by Section 9, ChapLaws, is respectfully submitted herewith. The complete report
covering the work of this department and containing statements of the institutions
under its supervision and other statistical information will be submitted as heretofore at a later date.
The banking power of Massachusetts is steadily increasing. Assets under the
super^dsion of this department now aggregate $2,933,225,101.74, an increase of
$110,384,660.25 since the last annual report of the Commissioner. This growth
has been general throughout the Commonwealth, not being confined to any one
section, and the resultant condition reflects not only the prosperity of our citizens
but their confidence in our financial institutions. It is interesting to note that the
total banking assets in institutions under state supervision represent two-thirds
of the total banking power of the Commonwealth.
ter 167, General

Consolidated Statement of All Institutions under Supervision of the Commissioner of

Banks.
October 81, 1923

iii
P.D. 8, Part III.
another indication that the pubUc is availing itself of the many advantages
offered by these banks. It is easy to measure the gain in dollars and cents but the
benefits accruing to the Commonwealth through the operation of banks of this
nature can only be estimated. A feature which is worthy of notice is that real
estate foreclosed and held in possession of the banks, amounting to only $45,182.93,
is the smallest amount outstanding on this account since 1889, which is remarkable
in view of the total amount of real estate loans held which approximates

is

$250,000,000.
The aggregate assets of trust companies, however, have not shown an increase.
What might be misunderstood through the conversion of six trust companies into
national banks as a tendency to give up state charters for those under Federal
control is explained mainly by reason of consolidations with national banks. It
is difficult to say why, under these consofidations, national bank charters were
chosen rather than state chartei:s, but it is conceivable that the difference between
the banking laws of this Commonwealth and the national bank act, particularly
with respect to taxation and the segregation of savings deposits, may have been
contributory reasons. The taxation question, it is hoped, will receive consideration soon.
The wisdom of requiring the savings deposits to be segregated will
be more evident, I believe, as time goes on.
Credit unions are now in operation under laws of the Commonwealth which
do not give the public the protection which, in my opinion, they have a right to
expect. Supervision of these institutions has been and is very expensive, owing
not only to the inadequacy of the present laws, but also because of the lack of
financial experience among those in charge of many of the credit unions, as well
as frequent changes in management. Careful consideration of all phases of this
subject has made it quite apparent to me that the statutes regulating this business
should be revised in many important respects. Changed conditions have, I believe,
led the credit unions away from the original intent of the framers of the law.
Although at the present time performing a meritorious service, they should, in
my opinion, remain true to the purpose for which they were originally established.
Unless there are radical changes in the laws governing them, it is my judgment that
a situation is very likely to arise wliich will subject the savings of members to unnecessary hazard.
In order properly to safeguard this business and to insure its operation in the
proper direction, I strongly recommend that consideration be given to corrective
legislation. Therefore, I respectfully urge that a committee be appointed to study
and recommend changes in the present laws. In this connection I particularly
call attention to the unrestricted deposit privileges and the lack of regulations
covering the loaning of funds. In view of the good work being done by these institutions, I beheve that they are entitled to the benefit of remedial legislation.
In the last annual report mention was made of the inadequacy of General Laws,
Chapter 169, and the speculative tendencies of those doing business under its
provisions.
These conditions, together with suggestions for remedial legislation,
had been submitted to the Joint Special Committee appointed by the legislature
to consider and recommend a re-arrangement and revision of the laws relating
to "Deposits with Others than Banks." In consequence of this, the legislature
enacted Chapter 473 of the Acts of 1923, amending General Laws, Chapter 169.
This legislation would have remedied many of the existing conditions and would
have placed this class of business on a comparatively firm basis, but just prior to
the date of its taking effect, August 23, 1923, a petition calling for a referendum
was filed and the act is now in abeyance pending action at the next state election.
I take pleasure in presenting herewith certain statistics concerning the various
institutions under the supervision of this department which indicate their healthy
condition; also, information showing the progress made in the liquidation of those
institutions in the possession of the Commissioner.

Respectfully submitted,

JOSEPH

C.

ALLEN,

Commissioner of Banks.

'

P.D.

iv

8,

Part III.

CO-OPERATIVE BANKS.
New

Co-operative Banks.

Methuen Co-operative Bank, Methuen, commenced business Apr. 13,
Minot Co-operative Bank, Boston, commenced business July 1, 1923.

1923.

Legislation, Acts of 1923.

Chap. 100 (amending G. L., chap. 170, sec. 7) Requiring officers of co-operative banks
to quahfy within thirty days of election or office be declared vacant, and providing
for removal from office of a director who for six months fails both to attend regular meetings of the board and to perform duties devolving upon him.
Chap. 21 (amending G. L., chap. 170, sec. 31) Changing the limit for investment of
funds in banking houses from two to five per cent of the dues capital and not t6
exceed one hundred thousand dollars.
Chap. 8 Enabling the Reliance Co-operative Bank, Cambridge, to hold real estate not
to exceed in

amount

$100,000.

Chap. 25 Increasing the amount allowed the Workingmen's Co-operative Bank, Boston,
to invest in real estate to $550,000.

P,D.

Part III.

8,

STATEMENTS EELATING TO CO-OPEMTIYE BANKS.

INDEX.
Statement

Number
1.

2.
3.
4.
5.
6.
7.

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

Aggregate statement of condition of all banks
Comparative profit and loss statements for the

Matured shares
Receipts and disbursements

for the year

last three years

.

ending October 31, 1923

Operating expenses

Statistics of business

Comparative exhibit of interest rates from 1912 to 1923 on outstanding loans on
October 31 of each year
Comparative exhibit of dividend rates from 1911 to 1923
Rates of interest on real estate and share loans October 31, 1923
Real estate by foreclosure
Real estate by foreclosure and common-form mortgages, 1890 to 1923
Statement of shares matured since last report
Principal assets of banks from 1879 to 1923, inclusive
Principal liabilities of banks from 1879 to 1923, inclusive

VI
vi
vii
viii

viii

ix

.

9.

10.
11.
12.
13.
13.

XI
xii
xiii

xxii

xxiv

VI

P.D.

8,

Part IH.

STATEMENT
Aggregate Statement of Condition

P.D.

No.

Part III.

8,
1.

OF All Co-operative Banks.

LIABILITIES.

Oct. 31, 1923.

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

Oct. 31, 1922.

1923

1923
Increase.

Decrease.

Capital.

Dues capital
Profits capital

Matured shares represented by
Paid-up shares represented by

certificates
certificates

$172,914,135
33,560,142
31,415,800
13,351,000

00
56
00
00

$156,727,689
30,273,859
20,577,200
6,949,800

00
73
00
00

$16,186,446
3,286,282
10,838,600
6,401,200

00
83
00
00

Surplus.

Guaranty fund

4,309,286 91
2,998,611 95

Surplus

3,698,749 76
2,,531,140 76

610,537 15
467,471 19

Undivided Earnings
Interest

Premiums

.

Fines
Transfer fees

Withdrawal

profits
Forfeiture profits

1,532,105
10,321
30,003
180
24,703
169

01
98
71
45
83
48

91,488
475,122
9,481
7,099
4,422
184,467
68,303
2,352,347
1,389,200
27,238

60
65
03
08
27
70
44

60
56
03
72
06
988 37

1,275,531
8,397
27,601
140
22,818

256,573
1,924
2,402
39
1,885

41

42
68
73
77

Miscellaneous.
Forfeited share account
Matured share account

Personal accounts
Security committee

Due on

.

foreclosure sales

Dividends, matured share certificates
Dividends on paid-up shares
Due on uncompleted mortgage loans
Bills payable
.

Sundry

liabilities

....

91, 027 75
543, 260 61

51

85
5, 549 55
7, 896 03
121, 490 69
38, 092 88
1,804, 828 52
356, 300 00
19, 742 21

$264,755,631 85

$225,092,156 68

69

00

STATEMENT

No.

3.

Matured Shares.
Year.

460 85
68,137 96
570 82

10, 051

1,549 53

3,473 76

$39,736,476 60

$73,001 43

P.D.

ii

STATEMENT

No.

Receipts and Disbursements for the Year ending October
Receipts.

Loans and Investments.

Dues
Dues
Dues
Dues

capital (withdrawn)
capital (forfeited)
capital (retired)
capital (matured)
Profits capital (withdrawn)
Profits capital (forfeited)
Profits capital (retired)
Profits capital (matured)
.

.

....

Real estate loans eliminated
maturity of shares
Real estate loans repaid
Share loans repaid
.

.

Matured share loans repaid

.

Paid-up share loans repaid
Uncompleted mortgage loans
Mort^aees
Notes and bonds
Real estate by foreclosure
.

.

....
....
..."

288,044 26
2,271,803
41,116,359
4,822,415
188,103
86,860
10,459,477
14,866
1,082,021
342,014

10
73
79

00
00

Dividends on matured share
cates

Fines
Transfer fees
.

.

.

Withdrawal

profits
Forfeited profits

Rents
Expenses

Bank

.

]

'.

.

[
'
'.

.

'

"
.

.

.

.

.

.

.

"

building

]

Matured share loans
Paid-up share loans
Uncompleted mortgage loans
Mortffaees

Notes and bonds
Real estate by foreclosure

.

Personal accounts
Certificates of deposit
Security committee
Surplus
.

.

payable
Sundries

Bills

.

.

31, 1022

02

00
00
00
04
29
84

80

.....

Income and Expenses.
14,598,644 68

Interest

Dividends on matured share
4,288
4,126
59,115
306,982
1,609
191,694

49

$112,914
53,380
5,757,934
12,366,200
7,674,400
219,808
953,200
51,318
30,473
2,298,700
309,657

48
02
60
00
00
62
00
05
94
00
03

37
18
36
43
34
1,777 68
31 ,653 52
35,379 31
338 00

cates

.

Dividends on paid-up shares

Temporary expense
Permanent expense

Bank

building

193,581 28

certifi'

.

.

1,246,843
505,699
1,188,805
32,187
161,120

32

112,543
53,380
5,826,090
1,527,600
1,273,200
220,066
963,000
36,908
58,070
1,270,800
257,428

05
02
86
00
00
00

69
81

79

33

Miscellaneous
Forfeited share account
Retired share account
Matured share account
Matured share certificate
Paid-up share account
Personal accounts
Certificates of deposit
Security committee
.

Surplus
Bills payable
Sundries
.

.

.

00
78
35

00
41

Cash.

C.4.SH.

Cash on hand Oct.

83,288,282
5,436,935
237,725
128,945
9,912,058
77
627,912
296,906

11

15
14

Miscellaneous.
Forfeited share account
Retired share account
Matured share account
Matured share certificate
Paid-up share account

00
00
00
00
58
30
87

21
11

certifi

Dividends on paid-up shares

Premiums

....
....

Real estate loans
Share loans

Income and Expenses.
Interest

$20,718,343
132,427
122,763
15,217,080
3,268,379
22,287
43,843
6,139,459

Loans and Investments.

.

Real estate loans eliminated

.

31, 1923.

Capital.
$52,377,103 00
2,124,719 24

.

.

.

foreclosure

Part III.

Disbursements.

Capital.

Dues capital
Profits capital

8,

4.

6,519,.506 87

Cash on hand Oct.

STATEMENT

31, 1923

6,236,229 16

$166,756,979 70

$166,756,979 70

No.

5.

Operating Expenses.

P.D.

IX

Part III.

8,

STATEMENT

No.

6.

Statistics of Business.

Year ending

31.

1920

1921

1922

1923

Octtober

1919

1918

Shares.

Number in force Oct. 31
Number borrowed upon
Number issued
Number withdrawn
Number forfeited
Number retired
Number matured

.

.

.

....
....

552
76,918

3,214,511
1,102,487
783,328
495,571
7,040
361
60,568

2,994,723
968,334
931,299
394,256
4,271
1,262
51,550

2,514,763
854,256
631,862
332,108
5,937
2,915
49,355

2,273,216
785,192
418,319
328,367
8,023
2,238
43,387

157,079

102,886

74,110

57,352

42,097

30,120

66,755

34,749

92,485

84,053

77,582

72,068

67,476

62,910

6.01
25,029

5.95

5
21,682

5.78

5.70

5.64

18,690

18,498

19,446

5.85

5.76

34,234
261,979

33,774
34,275
247,224

$80 45

3,990,288
1,484,012
1,176,991
586,642
7,519

3,517,465
1,257,510
917,368
527,526
9,418

907
109,100

Matured shares represented by
certificates

Paid-up shares represented by
certificates

Loans.

Number

of

Oct. 31

real

Average rate

loans

estate

.

.

.

of

interest, real
estate loans, Oct. 31
Number of share loans Oct. 31
Average rate of interest, share

loans, Oct. 31

23,212

6.12

.

Membership.

Number added
Number withdrawn
Number of members

.

Oct. 31
Average number of shares held
by each member Oct. 31
Average profits to credit of each
member Oct. 31
Number of holders of matured
share certificates
Number of holders of paid-up
share certificates
.

.

.

.

79,139
49,179
357,117

65,386
47,020
327,157

70,478
36,260
296,197

57,502
44,908
308,791

9.19

11.17

10.75

10.41

10.11

$93 97

$92 54

$88 43

$82 77

$84 10

27,493

18,637

13,113

7,181

107,589

98,826

90,982

83,604

78,590

74,410

Borrowers.

Number
Number

of borrowers Oct. 31
of non-borrowers Oct,

31

228,331

217,809

212,593

183,389

172,814

5.47
5.49
,184,870'96 $1,023,011 61

5.39
$873,658 26

5.20
$783,902 38

5.27
$628,453 44

5.31
$542,274 62

.45

.44

.45

.40

.39

249,528

Miscellaneous
Average rate

.

of dividend
Total expenses during year
Percentage of total expenses to
.

....
....

total assets
Profits credited to shares during

year
Percentage of surplus and guarantv fund to dues and profits
capital Oct. 31

Percentage of increase in assets

.45
1,635,984 86

9,601,424 04

3.54
17.62

14.73

,708,732 73 $7,765,502 69 ;6,944,874 32 $6,312,964 82

3.19
12.77

3 33

STATEMENT

No.

3.16
12.33

3.15
10.47

3.07
10.66

7.

Comparative Exhibit of Interest Rates from 1913 to 1923 on Outstanding
Loans on October 31 of Each Year.
Percentage of Total Loans.

Amount of
Loans
Oct. 31, 1923.

At

5 per cent

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

Between 5 and 6 per cent
At 6 per cent
Between 6 and 6%o per cent
At 6%o per cent (5 cents premium
Between 6%o and 7 per cent
.

At

7

per cent

7 and 8 per cent
At 8 per cent
At more than 8 per cent

Between

.

$8,631, 425
32,960, 220
159,804, 488
2,691, 794
17,479, ,296

00

1923

3.38

1922

5.22

1921

1920 1919

1918

1917 1916 1915 1914

1913

7.55 10.16 13.53 17.18 20.67 21.53 24.36 29.54 34.79

99 12.91 18.12 24.08 30.70 36.30 40.19 40.53 40.40 37.96 35.62 32.35
07 62.58 58.58 52.73 48.11 40.92 33.87 29.96 29.00 27.85 25.31 23.13
.85
.95
.75 1.01
.65
.72
.66
.68
.76
00 1.05 1.08
00 6.84 6.80 7.00 7.06 6.95 7.04 7.12 7.15 7.24 7.31 7.47
.94
1.24
.97
1.00
.96
.95
1.29
23,490 ,728 55 9.20 6.01 3.62 1.
.10
.13
.11
.05
.17
.05
.54
3.76 3.49
9,715, ,218 76 3
.14
.15
.17
.06
.04
.06
.03
.31
.32
.21
.10
255, 800 00
.03
.02
.05
.02
.02
.01
.38
.38
.15
199, ,590 00
J.02
.07
.01
.01
.02
.01
.11
.05
.13
134, 365 00

$255,362,926 37

P.D.

STATEMENT

No.

Comparative Exhibit of Dividend Rates prom 1912 to

RATE OF

DIVI-

8,

Part III.

8.

1923.

P.D.

8,

Part III.

xi

STATEMENT

No.

9.

Rates of Interest on Real Estate and Share Loans, October
Rate Pek Cent.

31,

1923.

P.D.

xii

STATEMENT

No.

8,

Part III.

11.

Real Estate by Foeeclosure and Common-form Mortgages,

1890 to 1923.

P.D.

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P.D.

8,

Part III.

STATEMENT
Pkincipal Assets of Co-operative

P.D.

No.

8,

Part III.

13.

Banks from
Real Estate

by
Foreclosure.

1879 to 1923, inclusive.

XXIV

P.D.

8,

Part III.

STATEMENT
Principal Liabilities of Co-operative

Year.

P.D.

8,

No. 13

Part III.

— Concluded.

Banks feom

1879 to 1923, inclusive.

XXV

ABSTEACT OF ANNUAL EEPORTS OF THE CO-OPERATIVE BANKS
SHOWING THEIR CONDITION AT CLOSE OF BUSINESS,
OCTOBER,

1923.

ABINGTON — NORTH ABINGTON CO-OPERATIVE BANK.
Other authorized location tor receipt
Incorporated

William C. Brett,

March

of

moneys, 216 Union

23, 1888.

Street, Rockland,

Began business April

4,

Mass.

1888.

Geo. D. Witherell, Treasurer,

President.

Board of Directors: A. W. Ames, E. P. Boynton, W. C. Brett, H. R. Burbeck, A. N. Calkins, D. R.
CouGHLAN, J. M. Hayes, A. L. Merrill, E. H. Naylor, G. W. Orcutt, J. A. Radcliffe,* A. I.
Randall, A. B. Reed, F. E. Shaw,* F. G. Wheatley,* G. D. Witherell.
Regular meetings for receipt of moneys the

first

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets

Loans on real estate
Loans on shares
Unpaid fines
Temporary expense account
Real estate by foreclosure
Cash
.

....

$1,067,300 00

1923.

2

P.D.

ADAMS — ADAMS CO-OPERATIVE BANK.
Incorporated December 17, 1895.

George

Began business March

Part III.

8,

10, 1896.

Feank Hanlon,

B. Adams, President.

Treasurer.

Board of Directors: G. B. Adams, E. H. Arnold, R. C. Buntin, J. J. Carney,* A. B. Daniels, Hector
Desautels, a. E. Green, S. L. A. Hall,* Frank Hanlon, A. W. Jones, Henry Kaiser, C. J.
Menard, W. S. Morton, D. A. Murphy, F. R. Shaw, F. W. Smith, P. P. Smith,* P. J. Vrabel.
Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OP THE OCTOBER BUSINESS,
Assets
$717,745 00
20,765 00
176 00
17,991 10

Loans on real estate
Loans on shares
Common form mortgages
Cash
.

.

.

Dues

Matured share certificates
Guaranty fund
Surplus

Matured share dividends

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

by

3,195
1,220

.

.

250

certificates

12,311
4,293
190

17

00
50
43
00
00

$766,677 10

$766,677 10

Shares.

00

$573,947
106,463
38,000
14,420
18,996
3,900
950

capital
Profits capital

Due on uncompleted loans

Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented

1923.

Liabilities.

Membership.
Added during year
Withdrawn during year
Members

234
107

....

Borrowers

1,204

372

Profits Distributed.

Unmatured Shares and Matured Share
Certificates.
First term, 2}>i%; second term, 2}4

%.

Proportion of profits retained on voluntary withdrawals, 10%.

Rates and Averages on Loans.
S16

!39.68 each;
real estate loans (average, $2,239.68

average rate, 5.89%): 5%, $55,625;

5^%,

$42,605;

6%,

$Diy,oio.
$619,515.

50 share loans (average, $415.30 each;

average rate, 6%):

6%, $20,765.

Total Expenses for Year.
Advertising.

Other Expenses.

$225.00

$34.44

$570.98

.30

.05

.75

Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets

.

$2,250.01
2.97

Total.

$3,080.43
4.07

AMESBURY — AMESBURY CO-OPERATIVE BANK.
Incorporated April

William W. Hawkes,

10, 1886.

Began business

May

1,

1886.

John Gibbons,

President.

Board of Directors: R. E. Briggs,* G. E. Collins, John Currier,*
Regular meetings for receipt of moneys

the

first

W. W. Hawkes,* Charles

Monday

of each

Treasurer.

Schofield.

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Unpaid interest
Cash
.

.

1923.

Liabilities.

Assets
$471,500
8,680
839
6,959

00
00
49
94

Dues

capital

Profits capital

Guaranty fund
Surplus

Due on uncompleted
$487,979 43

* Security Committee.

loans

$389,387 00
78,758 36
6,143 06
5,491 01
8,200 00

$487,979 43

P.D.

8,

Part III.
scares.

P.D.

Part III.

8,

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets

$3,413.80
2.51

.

Other Expenses.

Advertising.

$570.00

$144.00

Total.

$1,416.88
1.04

.42

$5,544 68
.

4.08

ATHOL — ATHOL CO-OPERATIVE BANK.
Incorporated July

William G. Lohd,

1,

1889.

Began business July

15, 1889.

Alice V. Goodnow, Treasurer.

President.

Board of Directors: C. F. Amsden,* A. E. Caswell, R. L. Dexter, W. L. Edgar, H. C. Fay, L. B. Fay,
Alice V. Goodnow, G. C. Longley, F. W. Lord, G. F. Lobd, W. G. Lord,* Simon MacKay, F. S.
P.\RMENTER,* W. W. WoODWARD, E. L. WORRICK.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

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

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share

$6,500
746,450
21,770
2,575

.

.

Common form

certificates

mortgages

Unpaid interest
Unpaid fines
Permanent expense accoimt
Cash

1923.

Liabilities.

00
00
00
00

1,090 18
1,784 90
163 01

.....

150 00
17,486 16

.

Dues

capital

Profits capital

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus

.

.

.

.

.

2,679 74

Over and short account
Dividends on matured share
.

.

13

00
00
14,179 63
16,854 46

Due on uncompleted loans
tificates

00

$430,373
87,987
180,800
59,200

45 30
cer-

4,369 99

.

Dividends on paid-up share certificates

.

.

.

.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

.

.

.

.

.

.

960

.

.

.

16

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

2,168

228

$797,969 25

Membership.
Added during year
Withdrawn during year
Members
Borrowers

9,069
4,564

904
296

1,480 00

.

$797,969 26

179
120

....
....

902
480

Profits Distributed.

Unmatured Shares.
First term,

2%%;

First term,

2}4%; second term, 2J^%.

second term, 2M%.
Matured and Paid-up Share Certificates.

Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Sates and Averages on Loans.
640 real estate loans (average, $1,382.31 each; average rate, 6%): 6%, $746,450.
116 share loans (average, $187.67 each; average rate, 67c): 6%, $21,770.
5 loans on matured share certificates: 6%, $2,575.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets

.

.

ATTLEBORO

Salaries.

Rent.

Advertising.

Other Expenses.

$1,725.00

$214.41

$72.15

2.16

.27

.09

$2,485.84
3.14

— ATTLEBOROUGH

Incorporated July 18, 1892.

Solomon B. Jacobs,

Total.

$4,497.40

5.66

CO-OPERATIVE BANK.

Began business August

17, 1892.

Harry

President.

E. Carpenter, Treasurer.

Board of Directors: M. F. Ashley,* C. J. Brigham, A. N. Brownell, I. H. Bruce, H. E. Carpenter,
T. S. Carpenter, W. A. Cunningham, Joseph Finberg, C. C. Grant,* S. B. Jacobs,* Joseph KekkHOFF, T. E. McCaffrey, E. A. Remington, F. L. Torrey, R. L. Torrey.
Regular monthly meeting for the receipt of moneys the third Wednesday in each month.
* Security Committee.

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
.

.

.

.

.....

Temporary expense account
Cash

$339,065 00
16,990 00
3,800 00
22.5 00
5,340 00
5,181 71
1,907 59
64 71
528 16
23,425 70

Dues

Paid-up

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

Shares.
Issued during year
"Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
.

.

717
334
29
219

.

certificates
share certificates

Guaranty fund

5,351 12
7,862 13

Surplus
Interest

66 82
25
234 12
3,525 00

Fines
Transfer fees
.

Withdrawal profits
Due on uncompleted loans

$396,527 87

486
78

certificates
certificates

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

Membership.
Added during year
Withdrawn during year
Members
Borrowers

3,725
2,041

Matured shares represented by

00
55
00
00
88

$213,412
47,271
97,200
15,600
6,004

capital

Profits capital

Matured share

$396,527 87

Paid-up shares represented by

1923.

Liabilities

35
28
411
216

Profits Distributed.

Unmatured Shares.
First term,

2M%;

second term,

2%%.

Matured and Paid-up Share
First term,

2J^%; second term,

Certificates.

2H%-

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
181
62
S
2

real estate loans (average, SI, 873. 29 each;

average rate, 6%): 6%, $339,065.

share loans (average, $274.03 each; average rate, 6%):
loans on matured share certificates: 6%, $3,800.
loans on paid-up share certificates: 6%, $225.

6%, $16,990.

Total Expenses for Year.
Salaries.

Amount paid
Cost

$999.96
2.53

for
per $1,000 of assets

Advertising.

Other Expenses.

$215.46

$31.50

.54

.08

$546.08
1.38

Rent.

Total.

$1,793.00
4.53

AVON — AVON CO-OPERATIVE BANK.
Incorporated February 24, 1914.

William Gbart,

Began business March

5,

1914.

William W. Littlefield, Treasurer.

President.

Board of Directors: J. J. Collins, E. C. Crane, J. T. Dolan,* William Geary, J. A. Gill, J. A. GilliGAN, B. F. Hunt, L. W. Littlefield, A. A. MacDonald, P. E. McGonnigle, F. P. McNiff,* D. A.
Nelson,* E. S. Olson, R. H. Sheehan, J. S. Smith.
Regular meetings for receipt of moneys the

first

Thursday

of every

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

1923.

P.D.

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

.

Added during year
Withdrawn during year
Members

448
277

Issued during year

Withdrawn during year

8,

Part III.

....
...

Membership.

Shares.

.

Shares in force
Shares now pledged
Paid-up shares represented by certificates

1,997

......

Borrowers

742
4

37
35
227
103

Profits Distributed.

Unmatured Shares.
First term,

3%; second term, 3%.

Paid-up Share Certificates.
Second term, 23/2%.
Proportion of profits retained on voluAtary withdrawals, 25%; after 7 years, none.

Kates and Averages on Loans.
77 real estate loans (average, $1,489 each; average rate, 6%): 6%, $114,650.
Z6 share loans (average, $241.15 each; average rate, 6%): 6%, $6,270.

Total Expenses for Year.
Rent.

Salaries.

Amount

Advertising.

.

Other Expenses.

$6.65

$217.50
1.75

paid for
Cost per $1,000 of assets

$128.76

Total.

$352.91
2.84

.05

BALDWINVILLE — BALDWINVILLE CO-OPERATIVE BANK.
Incorporated July 16, 1889.

Elwin

Began business July

L. Thompson, President.

24, 1889.

Clesson A. Stevens, Treasurer,

Board of Directors: G. H. Alexander,* R. D. Cook, L. C. Day, F. R. Ellis, C. A. Fletcher, F. L.
Hageh, W. p. Hawley, A. M. Jones, C. W. Nichols, W. F. Oliver, C. A. Stevens,* B. F. Stuart,
E. L. Thompson,* E. B. Waite, P. C. Young.
Regular meetings for receipt of moneys the fourth Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense account
Cash

.....
.

.

$191,360 00
6,450 00
357 01
1,506 04

Dues

capital
Profits capital

$145,626 00
31,003 18

Matured share

5,400
1,000
4,159
1,925
2,851
104

Paid-up

certificates
share certificates

Guaranty fund
Surplus
Interest

Fines
Transfer fees
.

Withdrawal
Bills

50

$199,673 05

Membership.

Shares
433
281
58

Issued during year

Shares in force
Shares now pledged

00
00
92
63
34
82

101 66
7,500 00

profits

payable

$199,673 05

Withdrawn during year
Matured during year

1923.

Liabilities.

....

2,679
1,133

Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year

Members
Borrowers

....
....

65
52
358
170

Profits Distributed.

27
5

Unmatured Shares.
First term,

3%; second term, 3%.

Matured and Paid-up Share
First term, 2>^%,;

Certificates.
second term, 2J^%.

Proportion of profits retained on voluntary withdrawals, 25%.

Bates and Averages on Loans.
144 r^O'l estate loans (average, $1,328.88 each; average
25 share loans (average, $258 each; average rate, 6%)

:

rate, 6%): 6%, $191,360.
6%,, $6,450.

* Security Committee.

P.D.

8,

Part III.
Total Expenses for Year.
Salaries.

Amount paid
Cost

for
per $1,000 of assets
.

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Unpaid fines
Permanent expense account

....

.

.

.

.

$1,913,100 00
35,970 00
400 00
201 77

650 00
233 58

.

Temporary expense account
Insurance and taxes paid
Cash

.

109 59
30,793 75

Dues

$1,182,502
215,807
247,800
190,000

capital
Profits capital

Matured share
Paid-up

certificates
share certificates

22
30,469
30,396
15,348
4

Forfeited share account

Guaranty fund
Surplus
Interest

Transfer fees

Withdrawal
Bills

loans

$1,981,468 69

$1,981,458 69

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

Shares.
Issued during year
Forfeited during year

.

.

.

.

.

.

.

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

7,903
3,480
16

963
28,583
10,965

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

Membership.
Added during year
Withdrawn during year
Members
Borrowers

593
393
2,751

865

Profits Distributed.

1,239

950

00
97
00
00
00
60
92
83
25

257 12
60,000 00
8,850 00

profits

payable

Due on uncompleted

Withdrawn during year

1923.

Liabilities

Unmatured Shares.
First term,

3%; second term, 2%%.

Matured Share
First term,

2M%;

Certificates.
second term, 2J^%.

Paid-up Share Certificates.
2>i%; second term, 2K%-

First term,

Proportion of profits retained on voluntary withdrawals,

25% on

series

not over 4 years old; after 4 years,

nothing.

Rates and Averages on Loans.
739 reaZ estate Zoans (average, $2,588.75 each; average rate, 5.93%) 5^%, $279,200; 6%, $1,633,900.
/S4 s/iare Zoares (average, $268.43 each; average rate, 6.05%): 6%, $34,320; 7%,, $1,650.
^ loans on paid-up share certificates: 6%, $400.
:

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets
.

.

Other Expenses.

Salaries.

Rent.

Advertising.

$4,791.43
2 42

$600.00

$134.38

$1,742.36

.30

.07

.88

.

,

Total.

$7,268.17
3.67

BOSTON — ANDREW SQUARE CO-OPERATIVE BANK.
632

DORCHESTER AVENUE (SOUTH BOSTON DISTRICT).
Incorporated January 23, 1919.

Began business April

1,

Chester

HiPOLiT Wahshewski, President.

1919.
F.

Dlugokecki, Treasurer.

Board of Directors: J. Bohkowski, J. Ciskowski,* C. F. Dlugokecki, F. Domurat, J. Kordaszewski,
A. KuLAS, F. Lachacz, M. Lisowski, A. Nadolnt, J. Sadlowski, A. Stelak, J. Stemplewski,* W.
Ukbanowski, a. Walezak, H. Warshewski, L. Zawalich,* S. Zdonek, H. Ziolkowski.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on

real estate

Loans on shares
Temporary expense account
.

....

Personal accounts

Cash

Liabilities.

$19,200 00
2,825 00
39 20
1,192 49
3,782 76

$27,039 45

1923.

P.D.

8,

Part III.

Membership.

Shares.
Issued during year
"Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates

576
566
58
1,030
164
13

40
45

Added during year
Withdrawn during year
Members

....
....

Borrowers

105

22

Profits Distributed.

Unmatttred Shares.
1M%; second term, 1^%; third term,
1?^%; fourth term, 1^%.

First term,

Paid-up Share Certificates.
First term,

1M%;
Proportion of profits retained on vbluntary withdrawals,
none.

1M%;

second term,
1 34%-

25% on

series

Bates and Averages on Loans.
:

:

Total Expenses for Year.
for
of assets

Cost per $1,000

.

third term,

not over 2 years old; after 2 years,

7 real estate loans (average, $2,742.85 each; average rate, 6%) 6%, $19,200.
i5 sAare Zoares (average, $188.33 each; average rate, 6%) 6%, $2,825.

Amount paid

1^%:

fourth term,

10

P.D.

8,

Part III.

Rates and Averages on Loans.
ae reaZesiaieZoans (average, $5,025 each; average rate, 6.15%): 6%, $110,457; 7%, $20,200.
20 share loans (average, $226 each; average rate, 6%): 6%, $4,526.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

Salaries.

Rent.

Advertising.

$316.75
2.16

$180.00
1.23

$217.37
1.48

Other Expenses.

Total.

$193.63
1.32

$907.75
6.19

BOSTON — BELLEVUE CO-OPERATIVE BANK.
1882

CENTRE STREET (WEST ROXBURY DISTRICT).

(Other authorized location for receipt of moneys Roslindale Branch of First National
Boston.)
:

Incorporated December 15, 1920.

Harold R. Duffie,

Began business January

of

17, 1921.

Edward Fruh,

President.

Bank

Treasurer.

Board of Directors: J. E. Aitken, Richard Blaikie, L. S. Breed, T. P. Buckley, A. W. Clark, J. W.
Ctjllen, J. H. Dearborn, L. J. Dickey, S. W. C. Downey, H. R. Duffie, Richard Duffie,*
Frank East, R. T. Fowler,* Albert Fruh, Edward Feuh, C. E. Oilman, J. M. Graham, Clayton
Havey, J. T. HosroRD,* G. C. McClellan, T. J. McLaughlin, W. J. McLaughlin, W. R. Messeb,
H. L. Morse, F. H. Newton, R. O. Pacht, F. T. Towle, H. C. Towne, I. S. Ward, J. S. Whittemore, J. A. Whittemore, Jr., George Williams.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Cash
.

....

Liabilities.

$111,500 00
1,340 00
160 00
25 00
6,010 48

$119,035 48

C

1923.

P.D.

8,

11

Part III.

BOSTON — BOSTON CO-OPERATIVE BANK.
63

STATE STREET.

(Other authorized location for the receipt of moneys: 521 Franklin Street, Melrose Highlands.)
Incorporated April 30, 1888.

Albert Goodman,

Began business

May 2,

1888.

Herbert

President.

F.

Taylor,

Jr.,

Treasurer,

Chandler, W. E. Cunningham,* H. B. Estabrook, Albert
Board of Directors: R. I. Carney,*
Goodman, H. H. Hill, D. J. Holmes, J. R. Hope, C. H. Johnson,* E. E. Sodergren, H. F. Taylor,*
John Tein.
L. "W.

Regular meetings for the receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Unpaid interest
Unpaid fines
Insurance and taxes paid
Cash
.

....

$2,802,350 00

1923.

12
P.D. 8, Part III.
Board of Directors: Joseph Abbott, H. W. Askenasy, J. H. Dalton, J. H. Fitzpatrick, W. S. Fuller,
Martin Hays, J. T. Knowles,* G.H. McDermott, H. K. Newhall, W.H. Parker,* H. S. Rowen,
W. H. Short, P. T. Sprague, D. H. Stewart, H. M. Thompson,* N. S. Waite, D. H. Wells.
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account

.

Cash

.

$453,500 00
18,915 00
1,147 44
5,659 89

.

.

.

.

.

Dues

00
69
00
00
1,066 73
4,508 93

capital
Profits capital

$344,754
54,685
13,600
52,400

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus

Due on uncompleted

$479,222 33

....
....
....
.....
....
Shares.

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

.

4,319
2,048
12

210

00
64
17

$479,222 33

Membership.
Added during year
Withdrawn during year
Members
Borrowers

10,771
2,992

68
262

17

4,166
3,200
166
674

loans

Dividends on matured shares
Dividends on paid-up shares

.

1923.

Liabilities

328

....
....

160
894
172

Profits Distributed.
First term,

Unmatured Shares.
1%%; second term, 1J^%;

third term,

iys%; fourth term, 1?^%.

Matured Share Certificates.
1M%; third term, 1J4%; fourth term,

Second term,

1M%.
Paid-up Share Certificates.
First term,

1M%;
Proportion of profits retained on voluntary withdrawals,
years, none.

1M%;

second term,

fourth term,

25% on

1H%<

third term,

1H%-

series less

than 5 years old; after 5

Bates and Averages on Loans.
ISl real estate loans (average, $3,747.93 each; average rate, 6.14%): 6%, $389,650; 7%, $63,850.
5/ sAare Zoans (average, $370.88 each; average rate, 6%) 6%, $18,915.
:

Total Expenses for Year.

Amount paid

for
Cost per $1,000 of assets
.

.

Salaries.

Rent.

Advertising.

Other Expenses.

Total.

$1,000.00
2.09

$975.00
2.03

$204.00

$1,187.62
2.48

$3,366.62
7.03

.43

BOSTON — BUSINESS MEN'S CO-OPERATIVE BANK.
20

PEMBERTON SQUARE.

(Other authorized locations for receipt of moneys Exchange Trust Company,
and 124 Boylston Street, Boston.)
:

Incorporated July 21, 1920.

Albert

S.

Began business September

Court Street,

14, 1920.

Warren

Apsey, President.

1

F.

Freeman, Treasurer.

Board of Directors: C. R. Adams,* A. S. Apsey, G. W. Apsey, J. Bitzer, W. F. Burnham, C. G. Fitzgerald, W. T. A. Fitzgerald, W. F. Freeman,* W. F. Freeman, Jr., W. C. Gray, L. L. Green,
J. M. L. Groby, a. N. Hederstedt, P. A. Hendrick, J. G. Hickey, F. E. Huntress, T. Jackson,
W. Jones,* C. S. Judkins, W. H. Keyes,* G. D. Kimball, F. J. Lon, E. C. Mansfield, J. J. Martin,
J. McCloskey, E. a. Merriam, M. A. O'Leary, J. B. Richards,* B. Tufts, J. Turner, G. F. Welch,
F. F. Whittier.
Regular meetings for receipt of moneys the second Tuesday of each month.
* Security Committee.

P.D.

8,

13

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets.

....

Loans on real estate
Loans on shares
Temporary expense account
.

Cash

.

.

.

.

$108,200 00
500 00
37 00
4,644 19

$113,381 19

1923.

14

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

P.D.

.

.

.

8,

Part III.

....
......
......
Membership.

Shares.

Issued during year
Withdrawn during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates

5,690

Added during year
Withdrawn during year
Members

1,193

Borrowers

2,155
1,291

1

.

161
120
556

.

.

127

Profits Distributed.

Unmatured Shares.
First term,

1M%;

IH%;

second term, 1}4%', third term,

fourth term,

1K%.

Paid-up Share Certificates.
First term,

1M%;
Proportion of profits retained on voluntary withdrawals,
4 to 5 years;

10% from

5 to 6 years;

1M%;

second term,

fourth term,

20% on

5% from

1M%;

third term,

1M%-

series less than 4 years old;
6 to 7 years; after 7 years, none.

15% from

Rates and Averages on Loans.
112 real estate loans (average, S2,006.70 each; average rate, 6.68%): 6%, $72,700; 7%, $152,050.
S4 share loans (average, $332.50 each; average rate, 6.81%): 6%, $500; 7%, $7,480.

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

Salaries.

Rent.

$457.50
1.90

$154.57
.64

Advertising.

P.D.

8,

Part III.

15
Bates and Averages on Loans.

46 real estate loans (average, $2,767.39 each; average rate, 6J^%): 6K%i $127,300.
13 share loans (average, $131.38 each; average rate, 7%): 7%, $1,708.

Total Expenses for Year.

Amount paid

for

.

Cost per $1,000 of assets

Salaries.

Rent.

Advertising.

Other Expenses.

$666.08
4.93

$120.00

$44.67

.89

.33

$303.45
2.24

Total.

$1,134.20
8.39

BOSTON — DORCHESTER CO-OPERATIVE BANK.
50

STATE STREET.

(Other authorized locations for the receipt of moneys: Blue Hill National Bank, Milton;
Uphams Corner and Fields Corner Branches of First National Bank, Dorchester.)
Incorporated August 21, 1890.

Laban Pratt,

Began business September

10, 1890.

PiNCKNEY HoLBBOOK,

President.

Evelyn D. Crocker,

Treasurer.

Assistant Treasurer.

Board of Directors: Asaph Churchill,* W. S. Fox,* I. C. Hebsey, Pinckney Holbrook, E. E.
JoBLiNG, Edward Lanning, R. D. Mossman,* G. S. Parker, J. H. Pierce,* Laban Pratt,* N. W".
Robinson,* John Talbot.*
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans

....

on real estate
on shares
on matured share certificates
on paid-up share certificates
.

.

Temporary expense account
Insurance and taxes paid
Cash
.

.

.

.

.

.

.

.

.

.

.

$1,235,145 00
29,600 00

800 00
700 00
1,191 14

166 73
27,328 79

Dues capital
Profits capital

$875,258
165,992
90,000
78,800
121
22,280
23,750
10,278
13,286
168
230
14,578
142

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share atecount

Guaranty fund
Surplus

....

Interest

Fines

Withdrawal profits
Due on uncompleted loans
Security committee
Cash over and short

....
....
.....
....
Shares.

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

.

.

.

4,904
2,773
66

370

.

12

00
13

63
67
71

$1,294,931 66

Membership.
Added during year
Withdrawn during year
Members
Borrowers

19,264
6,842

450
394

00
24
00
00
37

40
50
44 99

$1,294,931 66

.

1923.

Liabilities

273
216

....
....

1,749

545

Profits Distributed.

Unmatured Shares.
1^%; second term, 1^%; third term,
iys%; fourth term, 1^%.

First term,

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
1M%; fourth term, 1M%.

First term,

Proportion of profits retained on voluntary withdrawals,

20%

during

first

4 years.

Rates and Averages on Loans.
476

real estate loans

(average, $2,594.84 each;

average rate, 5.90%):

5%, $300;

5^%,

$989 971.
es

s;iare Zoans (average,

$428.98 each; average rate, 5.98%)

:

53^%, $1,030; 6%, $28,570.

loan on matured share certificate: 6%, $800.
S loans on paid-up share certificates: 6%, $700.
1

* Security

Committee.

$244,874; 6%,

P.D.

16

8,

Part III.

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets
.

Advertising. Other Expenses.

Salaries.

Rent.

$5,052.22
3.90

$625.00

$61.75

.48

.05

$1,377.04
1.07

Total.

$7,116.01
5.50

BOSTON — DUDLEY CO-OPERATIVE BANK.
66

WARREN STREET (ROXBURY

Incorporated March 29, 1922.

DISTRICT.)

Began business April

C. Joseph Connell, President.

Board of Directors:
J.

J. J.

C. L. Dowling,

L.

Dowling, Treasurer.

B. Cassidy, G. S. Clarkson, C. J. Connell, T. A. Donnelly,*
A. Gaston, E. L. Hanrihan, V. A. Heath, M. J. Kelly,* G. H. McCaffrey,
McIntire,
H. Miller, M. J. O'Brien,* A. O. O'Malley, A. J. Post, D. F.
C.

Billington,*

W.

10, 1922.

John C.
J.

D. G. McDonald,* S.
Sennott,* F. F. Vogel, Walter White.

Regular monthly meeting for receipt of moneys second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

....

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Permanent expense account
Temporary expense account
Over and short account
Cash
.

.

.

.

.

.

.

.

.

$81,400 00
1,655 00
100 00
783 30
123 24
6 00
214 22

Dues capital
Profits capital
Paid-up share

certificates

Forfeited share account

Guaranty fund
Surplus

....

Interest

Fines

Due on uncompleted

loans

Security committee

$84,281 76

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

.

.

Forfeited during year

Shares in force
Shares now pledged
Paid-up shares represented by certificates
.

.

.

.

00
22

00
56
33

218 75
517 57
63 10
6,500 00

$84,281 76

Membership.

Shares.

Issued during year

$65,153
2,517
8,600
555
145

8 00
3 23

Suspense

Withdrawn during year

1923.

Liabilities

1,811
1,002

66
4,715
645
43

Added during year
Withdrawn during year
Members
Borrowers

....
....

269
199

570
32

Profits Distributed.

Unmatured Shakes and Matured and Paid-up
Share Certificates.
\%%; second term, 1%%;
iya%; fourth term, 1%%.

First term,

third term,

Paid-up Share Certificates.
1M%! second term, 1M%; third term,

First term,

1K%;

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
19 real estate loans (average, $4,284.21 each; average rate, 6H%): &i4%, $81,400.
iS sfeare ioares (average, $127.30 each; average rate, 6%) 6%, $1,655.
S loans on paid-up share certificates: 6%, $100.
:

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

P.D.

8,

17

Part III.

STATEMENT OF CONDITION AT THE CLOSE OP THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense account
Cash

.....
.

.

1923.

Iiiabilities

$124,750 00
5,640 00
99 50
3,632 99

Dues

$102,366 00
12,843 15

capital
Profits capital

Paid-up share

13,000 00

certificates

Forfeited share account

277 00
920 90

Guaranty fund

1,186 44
1,451 84
38 31

Surplus
Interest

Fines

.

Withdrawal
Bills

38 85

profits

payable

2,000 00

$134,122 49

$134,122 49

;3
Shares.
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates
.

1,230

627
20
3,455

Membership.
Added during year
Withdrawn during year
Members
Borrowers

954
65

119
67

....
....

366
66

Profits Distributed.

Unmatured Shares.
second term, 1%%;
1H%.

First term, 1J^%;

1H%;

third term,

fourth term,

Paid-up Share Certificates.
134%; second term, 1M%; third term,

First term,

1M%;
Proportion of profits retained on voluntary withdrawals,

fourth term, l}-i%.

25%

the

first

6 years; after 6 years, none.

Bates and Averages on Loans.
^S reai estate ?oaws (average, $2,901.14 each; average rate, 6^%): 6%, $33,450; 7%, $91,300.
S3 share loans (average, $245.22 each; average rate, 6%): 6%, $5,140; 6J^%, $500.

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

BOSTON
271

Salaries.

Rent.

Advertising.

Other Expenses.

$490.00
3.80

-

$90.25

$121.67
2.25

— ENTERPRISE

Total.

$701.92
6.47

CO-OPERATIVE BANK.

MERIDIAN STREET (EAST BOSTON DISTRICT).

Incorporated March 31, 1888.

Eben Hutchinson,

.42

Began business April

3,

1888.

Robert

President.

F. Jordan, Treasurer.

Board of Directors: H. P. Abbott,* H.E. Beaqdon, W. E. Caeslet, W. E. Fostee, N. W. Gifpoed, R. J.
Gove, F. P. Gueney, E. S. Haskell, F. A. Healey, Eben Hutchinson, R. F. Joedan,* W. t!
Keough, John Marno,* C. H. Packard, W. C. Smith.
Regular meetings for receipt of moneys the third Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets

Loans on real estate
Loans on shares
Temporary expense account
.

Tax titles
Cash
.

.

.

$1,649,900 00

1923.

18
Shares.

P.D.

8,

Part III.

BOSTON
(598

— FANEUIL

19

CO-OPERATIVE BANK.

WASHINGTON STREET (BRIGHTON

(Other authorized location for receipt of moneys:
Incorporated April 10, 1916.

Frederick T. Conlet,

President.

Room

617,

DISTRICT).

Tremont

Began business

May

9,

Building, Boston, Mass.)

1916.

Thomas King,

Treasurer.

H. Buckley, J. J. Butler, F. T. Conley, W. J. Connbll, P. J. Donaghub, A. R.
Board
Frost,* J. J. Igoe, Thomas King,* J. F. Kinney,* F. L. Maguirb, Frank Nicholson, W. J.
O'Connor,* Donato Pellbgrim, Bernard Pullmar, C. E. Smith, J. B. Welch, H. L. Young*
of Directors: F.

Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Permanent expense account
Cash
.

....

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by

1923.

P.D.

20

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OP THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
.

Suspense

Cash

.

.

....
....

$200,000 00

1923.

P.D.

8,

21

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
.

Cash

.

.

.....

$736,170 00

1923.

22

P.D.

8,

Part III.

STATEMENT OF COITDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

....

Loans on real estate
Loans on shares

.

Temporary expense account
Cash

Liabilities.

$428,750 00
16,460 00
71 43
'

.

.

10,484 12

$456,765 55

1923.

P.D.

8,

23

Part III.
Membership.

Shares
Issued during year

Added during year
Withdrawn during year
Members

4,582
3,072
55

.

Withdrawn during year
Forfeited during year

.

568

Matured during year

Borrowers

21,115
8,640

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

336
315

....
....
.

2,075

588

Profits Distributed.

1,113

Unmatured Shares and Matured and Paid-up

397

Share Certificates.
First term,

1M%;
Proportion of profits retained on voluntary withdrawals,

1M%;

second term, 1H%'< third term,

fourth term,

25% up

1^%-

to 8 years; after 8 years, none.

Bates and Averages on Loans.
estate loans (average, $3,051.02 each; average rate, 5.59%): 5%, $599,550; 6%,
97 share ioares (average, $307.99 each; average rate, 5.85%): 5%, $4,175; 5J^%, $850;
1 loan on paid-up share certificate: 6%, $200.

491 real

$898,500.

6%, $24,850.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets

$5,839.33
3.72

.

.

Advertising.

$1,350.23

$30.00

.84

.01

Other Expenses.

Total.

$2,148.41
1.36

;9,367.97

5.93

BOSTON — GUARDIAN CO-OPERATIVE BANK.
36
Incorporated July

Royal

S.

Wentworth,

BBOMFIELD STREET.
2,

1886.

Began business August

6,

1886.

William D. Eldredge,

President.

Treasurer.

Board of Directors: J. W. Cousins, W. D. Eldredge, G. R. Farrell, W. S. Fracker,* H. C. Hathaway,
Joseph Hendry, F. A. Hinchcliffe, J. T. Kaler, P. B. Roberts, C. C. Swett,* F. C. Toward,*
Joseph Uttley, R. S. Wentworth,* H. L. Young.*
Regular meetings for receipt of moneys the

first

Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense account
Insurance and taxes paid

Cash

....

$801,293
154,376
74,800
27,600
163
5,032
27,257
32,605
28,477
551

Dues capital
Profits capital

$1,050,350 00
48,150 00
2,306 03
93 91
57,504 17

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Matured share account
Guaranty fund
Surplus
Interest

Fines
Transfer fees

353 00
$1,158,404 11

....

Membership.
Added during year
Withdrawn during year
20 Members

Shares.

3,621
2,376

.

Forfeited during year

Matured during year

.....
.....
.

Borrowers

630

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

51

4,700 00

$1,158,404 11

Withdrawn during year

00
53
00
00
68
23
27
62
97

6 00
1,187 30

Withdrawal profits
Due on uncompleted loans
Security committee

Issued during year

1923.

Liabilities

15,315
6,382

Profits Distributed.

374
138

Unmatured Shares.
First term,

2%%;

second term,

2%%.

Matured Share

Certificates.
First term, 2^^%; second term, 25^%.

I

Paid-up Share Certificates.
2M%; second term, 2M%).

First term,

Proportion of profits retained on voluntary withdrawals, 25 %.
* Security Committee.

204
226
1,286

379

24

P.D.

8,

5^%.

$182,200; 6%,

Part III.

Rates and Averages on Loans.
294

real estate loans (average, $3,572.62 each;

$763,200; 6H%, $11,600; 7%, $93,250.
123 share loans (average, $391.46 each; average

average rate, 6.01%): 5%, $100;
rate,

6%): 6%, $48,150.

Total Expenses for Year.
Salaries.

Amount paid

for

.

Cost per $1,000 of assets

P.D.

8,

Part

25

III.

BOSTON
11C9

HIGHLAND CO-OPERATIVE BANK.

COLUMBUS AVENUE (ROXBURY

Incorporated February 24, 1899.

Cornelius Vander Pyl,

DISTRICT).

Began business February

27, 1899.

Clarence E. MacKat,

President.

Treasurer.

Board of Directors: W. J. Bleiler,* B. D. Brawley, A. A. Brown, M. W. Cole, J. W. Colgan, Joseph
Engel, Joseph Esselbn,* C. B. Faunce, D. E. Hersee, Charles Liffler, C. E. MacKay, H. J.
MtJLLER,* W. I. Nichols, H. S. Ormsby, S. J. Rantin,* G. H. Richmond, R. B. Rugg, Cornelius

Vander Ptl.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured sliare certificates
Loans on paid-up share certificates
Unpaid interest
Temporary expense account

.....

Personal accounts

Cash

.

$951,440 00

1923.

26

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Temporary expense account
Cash

.....

00
00
00
00

$972,300
32,200
700
871

998 55
41,177 60

Dues capital
Profits capital

$699,195
150,183
105,200
23,800
967
29,714
20,854
10,615

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

00
27

00
00
01

56
64
19

276 41
1 75
553 32
6,700 00
186 00

Withdrawal profits
Due on uncompleted loans
Security committee
$1,048,247 15

$1,048,247 15

Membership.

Shares.
Issued during year

1923.

Liabilities

2,804
1,766
10

.

Withdrawn during year
Forfeited during year

Matured during year

665

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

.....
.....
.

Borrowers

13,627
5,007

330

Profits Distributed.

.526

119

189
198
1,153

Unmatured Shares.
First term,

2%%;

second term,

Matured Share
First term,

2%%

;

3^%-

Certificates.

second term,

2^%.

Paid-up Share Certificates.
First term, 2H% second term, 2]4%.

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
258

real estate loans (average,

768.60 each; average rate, 5.99%)

$15,600; 7%, $95,800.
105 share loans (average, $306.67 each; average
1 loan on matured share certificates: 6%, $700.

rate, 6%,):

6%,

:

Total Expenses for Year.

Amount paid

for

.

Cost per $1,000 of assets

5^%, $228,350;

$32,200.

6%, $623,550;

6H%,

P.D.

8,

27

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans

Liabilities

on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Permanent expense account
Temporary expense account

Cash

$1,390,200
28,190
2,200
2,570
1,850

Dues

00
00
00
00
00

.

$879,741
154,648
204,400
142,600
4,573
2,425
26,259
22,889
11,950

capital
Profits capital
.

Matured share

certificates
share certificates

Paid-up

Forfeited share account
Matured share account

583 54
1,124 01
2,716 92
33,275 74

....

Personal accounts

1923.

.

.

Guaranty fund

00

GO
44
67
54

57
32
40 43
25
261 00
12,660 GO
141 GO
119 06

Surplus
Interest

Fines
Transfer fees
.

Withdrawal profits
Due on uncompleted loans
Security committee
Personal accounts

00
93

.

$1,462,710 21

$1,462,710 21

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

7,737
4,279
132

.

606
399

....
....
.

588

Borrowers

22,314
9,295

2,272

623

Profits Distributed.

1,022

Unmatured Shares.
1%%; second term, 1%%; third term,
13^%; fourth term, 1^%.

713

First term,

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
1M%; fourth term, 1M%-

First term,

Proportion of profits retained on voluntary withdrawals,
none.

15%

first

4 years;

10%

4 to 8 years; after 8 years,

Rates and Averages on Loans.
SS4

real estate loans (average, $2,653.05 each;

$5,650;

5M%,

$2,750;

6%,

average rate, 5.97%): 5%, $26,300;

5K%,

$9,300;

5J^%

$1,346,200.

99 share loans (average, $284.74 each; average rate, 6%): 6%, $28,190.
4 loans on matured share certificates: 6%, $2,200.
7 loans on paid-up share certificates: 6%, $2,570.

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets
.

.

Salaries.

Rent.

$3,953.35
2.70

$804.25

$166.13

.54

.11

Advertising.

Other Expenses.

$1,731.92
1.18

Total.

$6,655.65

4.55

BOSTON — JAMAICA PLAIN CO-OPERATIVE BANK.
702

CENTRE STREET (JAMAICA PLAIN DISTRICT).

Incorporated February

Robert D. Webster,

7,

1920.

Began business February

19, 1920.

Ltla E. Henderson,

President.

Treasurer^

Board of Directors: F. W. Beering, F. P. Broderick, P. M. Connoll,* C. H. Curtis, Herbert Dillingham, W. T. Driscoll, Horace Dunklb, R. T. Fowler,* G. J. Ganer, E. V. Grabill, J. L. Griffin, L. E. Henderson, W. R. Hicks, B. E. Holland, J. B. Kavanaugh, G. W. Kenyon,* L. E.
Knott, S. T. Knott, H. C. Maguire, Alice E. McMurrough, P. J. Oswald, John Perrins,
Maurice Rosen, Joseph Rowen, D. B. Ruggles, G. C. Russell, H. E. Smith, R. D. Webster.
Regular meetings for receipt of moneys the third Thursday of each month.
* Security Committee.

28

P.D.

8,

Part III.

STATEMENT OP CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Overs and shorts
Cash

....
.

$96,200 00

1923.

P.D.

8,

Part

2&

III.

Membership.
Added during year
Withdrawn during year
Members

Shares.
Issued during year
Withdrawn during year
Forfeited during year

6,882
4,012

.

60
784

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

519
303

....
....
.

Borrowers

24,521
8,493

2,436

642

Profits Distributed.

828
396

Unmatitrbd Shares and Matttked and Paid-up-

Share Certificates.
second term, 1}4%', third term
fourth term, 1M%-

First term, 1}4,%\

1M%;

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
604

real estate loans (average, $2,849.28 each;

average rate, 5.86%): 5%, $10,900; 5}i%, $376,270; 6%»

$1,048,865.

J80 share loans (average,' $150.69 each; average rate, 6%): 6%, $27,124.
2 loans on matured share certificates: 6%, $1,300.

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets
.

.

Salaries.

Rent.

$6,200.00

$450.00

4.05

.29

Advertising.

Other Expenses.

Total.

$1,955.71
1.28

S,605.71

5.62

BOSTON — MASSACHUSETTS CO-OPERATIVE BANK.
1468

DORCHESTER AVENUE (DORCHESTER DISTRICT).

(.Other authorized location for receipt of

Incorporated

May

19, 1908.

moneys: 28 Tremont

May 28,

Began business

Street, Boston.)

1908.

Ansley M. Johnson,

Joseph R. Churchill, President.

Treasurer.

Board of Directors: J. L. Barney, J. C. Briscoe, W. M. Brummett,* F. J. Carey, J. R. Churchill,
H. A. Gillman, G. O. Goudey, L. J. Hayford,* A. M. Johnson, B. C. Kelley, Roger Mansfield,
Alexander Mason, J. F. Masters, J. J. Moore, E. J. Owen, J. R. Patterson, E. A. Retzel,
J. J. Scarry, A. W. Thompson, J. O. White,* F. I. Wilkins.
Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE Or THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense account

New
Cash

....

Building

Fund

.

,160,625 00
19,867 00
1,128 33

500 00

,

37,416 62

Dues capital
Profits capital

$743,915
131,632
230,800
7,200

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account

425

Guaranty fund

11,030
9,324
12,489

Surplus
Interest

Fines
Transfer fees

$1,219,636 95

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

73

00
00
35
58
23
78

50,000 00
22,400 00
108 00
$1,219,536 95

Membership.

Shares.
.

Withdrawn during year

00

205 58
5 70

.

payable
Due on uncompleted loans
Security committee
Bills

Issued during year

1923.

Liabilities

8,089
4,051
32

799
20,219
6,853

Added during year
Withdrawn during year
Members
.

Borrowers

451
289
1,674

420

Profits Distributed.

1,154

36

....
....

Unmatured Shares.
1%%;

First term, 1J^%; second term,
lj-i%; fourth term, 1%%.

third term,

Matured Share Certificates.
1%%; second term, 1?^%; third term,
iys%; fourth term, 1J^%.

First term,

Paid-up Share Certificates.
1M%; second term, 1}4%; third term,
fourth term, 1M%-

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, none.
* Security

Committee.

30

P.D.

8,

Part III.

Sates and Averages on Loans.
real estate loans (average,
241.97 each; average rate, 6.37%): 5}4%, S148,100; 6%, $170,100; GH%,
S669,775; 7%, $172,650
111 share loans (average, $178.98 each; average rate, 6.58%): 6%, $1,015; 6^%, $14,422; 7%, $4,430

S5S

1

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets

.

Salaries.

Rent.

$5,849.22
4.80

$275.00

$268.84

$797.60

.22

.22

.65

Other Expenses.

Advertising.

Total.

$7,190.66
5.89

BOSTON — MATTAPAN CO-OPERATIVE BANK.
2

OAKLAND STREET (DORCHESTEB

DISTRICT).

(Other authorized location for receipt of moneys: 294 Washington Street, Boston.)
Incorporated November 14, 1910.

Charles K. Thurston,

Began business December

20, 1910.

William R. Landers, Treasurer.

President.

Directors: W. H. Crosbt, W. G. Cruckshank,* Walter Curley, Joseph Engel, W. R. LandW. T. Mayburt, W. J. Meagher, D. A. Mower, C. W. Muldoon, T. S. Richardson,* T. W.
RouLSTON, F. N. Russell, F. H. Shumway, S. B. Small, P. D. Smith, C. C. Thurston, J. F. "Willett.

Board of

ers,*

Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Overs and shorts

....

Cash

1923.

Liabilities

$569,005 00
18,525 00
345 00
515 38
5 12
9,336 68

Dues capital
Profits capital

$400,947
63,586
61,800
33,000
562
5,443
4,747
5,666
89
56

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines

Withdrawal

profits

payable
Due on uncompleted loans
Security committee

00
54

00
00
75
74
97
60
13

45

15,000 00
6,800 00

Bills

32 00

$597,732 18

$597,732 18

3
Membership.

Shares.
Issued during year

4,066
2,570
140

.

"Withdrawn during year
Forfeited during year
Jtlatured during year
Shares in force

383

Added during year
Withdrawn during year
.

Borrowers

11,190
3,659

Shares now pledged

Matured shares represented by
Paid-up shares represented by

309

certificates
certificates

165

403
239

....
....

Members

1,609

233

Profits Distributed.

Unmatured Shares and Matured Share
Certificates.
First term, 1%6%; second teim,
15/16%; fourth term, 1J^%.

1%%%;

third term,

Paid-up Shares.
l}i%; third term,

First term, 1}^%; second term,

lJi%; fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
181 real

estate loans (average,

$3,143.09 each;

average rate, 6%): 5}^%, $36,700;

6%, $475,225; 6}4%,

$57,080.

87 share loans (average, $212.93 each; average

rate,

6%): 6%, $18,525.

Total Expenses for Year.
paid for
Cost per $1,000 of assets

$1,970.64
3.29
* Security

Advertising.

Other Expenses.

$360.00

$83.28

$363.29

52,777.21

.60

.14

.61

4.64

Rent.

Salaries.

Amount

Committee.

Total.

P.D.

8,

31

Part III.

MEETING HOUSE HILL CO-OPERATIVE BANK.

BOSTON

235

BOWDOIN STREET (DORCHESTER

Incorporated April 22, 1914.

Began business

DISTRICT).

May

14, 1914.

John H. Dobsey,

WiLLi.^M E. Wight, President.

Treasurer.

Board of Directors: William Campbell, J. T. Cavanagh, 2d, J. J. Comfhey, F. S. Devlin, H. J. Dixon,
J. H. DoRSEY,* J. F. Fennessey, R. S. Fitzgerald, J. A. Flynn, T. B. Kelly, J. P. Landers,
Daniel Leary,* C. J. Leonard,* R. M. Merrick, C. J. Murphy, M. J. O'Hare, Ambrogio Piotti,*
C. T. Reaedon, Erhardt Schatz, R. F. Sheehan, W. E. Wight.*
Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Insurance and taxes paid

Cash

....

$404,750 00
10,285 00
20 17
7,581 81

$422,636 98

Shares.

1923.

Liabilities

Dues

capital
Profits capital
.

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Suspense
Dividends on paid-up shares
Cash over and short
.

S332,784 00
57,901 22
22,000 00

998 05
3,836 59
3,723 44
1,077 84

32 80
252 52
30 52
$422,636 98

32

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on real estate,
of

1918

$150,000 00

....

section 47, Acts

Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Cash

.....

i

1923.

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense account
Over and short account
Cash

....
.

Liabilities.

$264,400 00
23,195 00
327 83
6 51
11,447 95

$299,377 29

33
1923.

P.D.

34

8,

Part III.

Membership.

Shares.
Issued during year
Shares in force
Shares now pledged

Added during year

1,279
1,279
15

174
174

Members
Borrowers

1

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
1 real estate loan (average, .53,000;

average rate, 6%): 6%, $3,000.

Total Expenses for Tear.
Rent.

Salaries.

Other Expenses.

Advertising

Amount paid
Cost

Total.

$5.90
1.35

for .
per $1,000 of assets

$5.90
1.35

BOSTON — MT. WASHINGTON CO-OPERATIVE BANK.
445

BROADWAY (SOUTH BOSTON

Incorporated June 20, 1893.

Michael

J.

Murray,

DISTRICT).

Began business June

21, 1893.

John M. Shea,

President.

Treasurer.

Board of Directors: J. F. Creed, C. A. Curtis, R. N. Daley, T. J. Giblin, T. R. Grimes, F. J. HanNON,* E. L. Logan, M. J. Logan, F. W. Lyons, Francis Magurn, C. P. Mooney,* M. J. Mullen,
M. J. Murray,* J. M. Shea, Alfred Smart.
Regular meetings for receipt of moneys the third Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates

LTnpaid interest
L^npaid fines
Permanent expense account
Personal accounts

00
00
00
00
40
204 80
150 GO

$1,983,749
31,340
3,100
1,850
2,167

.

....

2 54
86,264 98

.

Cash

Dues

capital
Profits capital

$1,290,524
253,914
394,200
95,800
25
37,434
22,910
7,463
195
5,164
1,197

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Surplus

Due on uncompleted
Personal accounts

loans

.

Dividends on matured shares
Dividends on paid-up shares
$2,108,828 72

Shares.
Issued during year

1923.

Liabilities

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

10,061
4,044
13
1,034
29,974
11,197
1,971

479

00
44
00
00
00
33
57
45
41
02

50

$2,108,828 72

Membership.
Added during year
Withdrawn during year
Members

748
420

.

....
.

Borrowers

.

.

2,475

.

732

Profits Distributed.

Unmatured Shares and Matured Share Certificates.
Wie%; second term,
fourth term, lB/ia%.

First term,

1%6%;

1%6%;

third term,

Paid-up Share Certificates.
1M%; second term, 1}4%; third term,
fourth term, 1^%.

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, 20% on series less than 4 years old; 10% on series
4 to 6 years old; after 6 years, none.

Rates and Averages on Loans.
average rate, 5.83%): 5%, $61,450; 5M%- $3,200; 53^%,
$550,400; 6%, $1,368,699.
average
rate, 5.97%,): 53^%, $1,790 6%, $29,550.
107 share loans (average, $292.90 each;
4. loans on matured share certificates: 6%, $3,100.
share
3 loans on paid-up
certificates: 6%, $1,850.

658

real estate loans (average, $1 ,014.82 each;

* Security

Committee.

P.D.

8,

35

Part III.
Total Expenses for Year.
Salaries.

Amount paid

for

Cost per $1,000 of assets

Rent.

P.D.

36

8,

Part III.

BOSTON — NORTH DORCHESTER CO-OPERATIVE BANK.
SAVIN HILL AVENUE (DORCHESTER DISTRICT).

39

Incorporated July 20, 1907,

Peteb

F.

Hanley,

Began business August

20, 1907.

Daniel

President.

J.

Daly, Treasurer.

Board of Directors: J. J. Beodebick,* H. A. Cakey, D. J. Daly, J. S. Donahue, J. M. Donovan, M. J.
Driscoll,* p. F. Gallahue, T. J. Gorman, P. F. Hanley,* W. H. Kehoe, C. J. Lavis, F. X. Moritz,
William Mukphy, W. L. Norton, D. G. Slattery.
Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares

$516,950 00
17,255 00
318 99
41 84
94 00
1 80
15,159 62

.

LTnpaid interest

Unpaid fines
Permanent expense account
.

Personal accounts

1923.

Liabilities.

.

Cash

....
....
...

Dues

capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus

.

.

.

.

.

.

.

Dividends on matured share

2,541
1,288
163
8,765
3,683
183

229

14

08

457 50
568 62
$649,821 26

$649,821 25

Shares,

00
00

certifi-

cates

.

91

certifi-

cates

Dividends on paid-up share

Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

00

$381,573
71,625
36,600
45,800
7,580
5,616

Membership.
Added during year
Withdrawn during year
Members

176
108
706

Borrowers

171

....
....
.

.

Profits Distributed.

Unmatured Shares and Matured and Paid-up
Share Certificates.

1M%;

First term,

1H%;

second term, 1}4%; third term,

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
139 real estate loans (average, $3,719 each; ^average rate, 5.82%): 5}^%, $190,950; 6%, $326,000.
3S share loans (average, $539.22 each; average rate, 6%): 6%, $17,255.

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets

.

Salaries.

Rent.

Advertising.

$1,846.34

$392.07

$121.44

.34

.71

.22

Other Expenses.

$549.12
1.00

Total.

$2,908.97
5.27

BOSTON — PIONEER CO-OPERATIVE BANK.
36

BROMFIELD STREET.

Incorporated July 26, 1877.

Edeic

Began business August

6,

1877.

William D. Eldredge,

Eldridge, President.

Treasurer.

Board of Directors: W. H. Bain, E. E. Bridge, J. W. Cousins, Edric Eldridge, W. D. Eldredge, G. R.
Fareell, W. S. Frackee,* Joseph Hendry, J. T. Kalee, P. B. Robeets, W. H. Roberts, C. E.
SwETT,* F. C. TowAED,* JOSEPH Uttley, R. S. Wentwoeth,* H. L. Young.*
Regular meetings for receipt of moneys the

first

* Security Committee.

Monday

of each

month.

P

D

37

S Part III

STATfiMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities

Assets.

$947,500 00
38,1.50 00
470 85
65,446 37

Loans on real estate
Loans on shares

....

Temporary expense account
Cash

Dues

S668,692
148,662
108,000
43,000
465
5,611
25,720
28,867
4,754
127

capital
Profits capital

.

Matured share certificates
Paid-up share certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
Interest

Fines
Transfer fees

00
72
00
00
53
42
09
39
55
16

25
150 11
17,500 00
16 00

Withdrawal profits
Due on uncompleted loans
Security committee

$1,051,567 22

$1,051,567 22

....

Membership.

Shares
Issued during year

1923.

3,215
1,822

.

Withdrawn during year
Forfeited during year

1

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

697

Added during year
Withdrawn during year

.....
.....

Members
Borrowers

12,411
5,509

540
215

190
188
1,036

315

Profits Distributed.

Unmatured Shares.
First term,

First

'2%%\ second term,

2%%.

Matured Share Certificates.
term, 2^%; second term, 2%%.
Paid-up Share Certificates.
2)2%; second term, 2}-^%.

First term,

Proportion of profits retained on voluntary withdrawals, 259

Rates and Averages on Loans.
258

real estate loans (average, $3,672.48 each;

700

s/iare Zoares

average rate, 5.98%): 5J^%, $194,950; 6%, $667,900; 6J^?

$4,500; 7%, $80,150.
(average, $381.50 each; average rate, 6%)

:

5>^%, $50; 6%, $38,100.

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

Salaries.

Rent.

Advertising.

$2,984.99
2.84

$732.66

$88.46

.70

.08

Other Expenses.

Total.

$5,170.15

$1,364.08
1.30

BOSTON — REAL ESTATE CO-OPERATIVE BANK.
8

CONGRESS STREET.

(Other authorized locations for receipt of moneys: Massachusetts Trust Co., and Citizens
National Bajik.)
Incorporated February

Frederick O. Woodruff,

9,

1920.

Began business March

28, 1920.

George

President.

I.

Robinson,

Jr.,

Treasurer.

Board of Directors: C. J. Bliss, W. E. Chamberlain, R. M. Dobbins, A. D. Down,* M. F. Foley, A. A.
Hastings, W. J. Keville,* Eldon MacLeod, H. F. Mason, W. J. McDonald, J. P. Merrill,
W. A. MuLLER, E. K. Newhall, M. W. Norris, A. L. Richmond, I. H. Rosbnbaum, Frank Ross,*
DoN.^LD Stimpson,* FREDERICK ViAux, W. C. Weeks,* C. H. Welsh, Willard Welsh, Alexander
Whiteside, F. O. Woodruff.
Regular meetings for receipt of moneys the
* Security

last

Committee.

Wednesday

in each

month.

38

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account

....

Personal accounts

Cash

.

$457,725

1923.

P.D.

8,

39

Part III.
Membership.

Shares,
Issued during year

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

221
140
871
226

Added during year
Withdrawn during year

2,365
1,338
193
8,356
3,620

.

Withdrawn during year
Matured during year

....
....

Members
Borrowers

Profits Distributed.

203
282

Unmatured Shares and Matured and

P.^id-up

Share Certificates.
First term, 23^%; second term, 23^%.

Proportion of profits retained on voluntary withdrawals, 20%.

Rates and Averages on Loans.
174

real estate loans (average, $2,849.13 each;

average rate, 5.84%): 5%, $51,600;

$53,650; 6%,

.51'^%,

$390,500.
SI share loans (average, $250.18 each; average rate, 6%): 6%, $20,265.

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

Salaries.

Rent.

Advertising.

Other Expenses.

$1,891.92
3.43

$305.41

$71.72

$714.78

.55

.13

1.30

Total.

$2,983.83
5.41

BOSTON — ROXBURY CO-OPERATIVE BANK.
1109

COLUMBUS AVENUE (ROXBURY

Incorporated October

John

F.

Mungovan,

3,

1889.

DISTRICT).

Began business November

1,

1889.

Clarence E. MacKay,

President.

Treasurer.

Board of Directors: F. C. Blbilek,* A. A. Brown, M. J. Collins, Joseph Driscoll, H. C. Dunbar,
Stephen Duncan, Joseph Engel, W. E. Greener, O. J. Hermann, H. E. Hoffman, J. T. HosFORD, T. F. Hunt,* G. E. Jacobs, A. M. Leon.\rd, Charles Liffler, Charles Lifpler, Jr., C. E.
MacKat,R. a. McLellan,* J. F. Mungovan, T. F. Quinn, S. J. Rantin,* F. W. Rugg, A. E. Taylor,
Frank Tucker, A. K. Williams.
Regular meetings for receipt of moneys,

first

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest
Cash

certificates

.....

$1,005,730
28,045
1,000
2,004
43,851

00
00
00
41
78

Dues

$749,810
158,903
105,800
669
25,613

capital
Profits capital
.

Matured share

certificates

Forfeited share account

.

Guaranty fund

18,850
18,400

Surplus

Due on uncompleted

loans
Cashier's overs
Matured share dividends

20
2,564

Shares

c

4,068
2,533

.

44
521

....

Membership.
Added during year
Withdrawn during year
Members
Borrowers

.....
.....

215
135
1,267

398

Profits Distributed.

529

certificates

17

00
22
68
27
00
59
26

=3

15,140
6,111

by

00

$1,080,631 19

$1,080,631 19

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented

1923.

Liabilities

Assets.

First term,

Unmatured Shares.
2^%; second term, 25^%.

Matured Share
First term,

Certificates.

2>i%; second term, 23^%.

Proportion of profits retained on voluntary withdrawals, 20% on series less than 4)^ years old;
series 43^ to 83^ years old; after 83^ years, none.

10% on

Rates and Averages on Loans.
average rate, 5.78%): 5%, $208,975;
6%, $480,350; 63^%, $103,265; 7%, $34,800.
82 share loans (average, $342.02 each; average rate, 6%): 6%, $28,045.
$ loans on matured share certificates: 6%, $1,000.

S16

real estate loans (average, $3,182.69 each;

* Security

Committee.

53^%, $178,340;

40

P.D.

8,

Part III.

Total Expenses for Year.
Salaries.

Amount paid

for

.

Cost per $1,000 of assets

$2,826.51
2.61

Rent.

Advertising.

Other Expenses.

$291.56

$96.65

$855.43

.27

.09

.79

Total.

$4,070.15
3.76

BOSTON — SHAWMUT CO-OPERATIVE BANK.
DORCHESTER AVENUE (DORCHESTER

1769

Incorporated December 29, 1913.

D-\NiEL

J.

Gallagher,

DISTRICT).

Began business January

19, 1914.

Thomas Rush,

President.

Treasurer.

Board of Directors: N. A. Burckh.^rdt, W. E. Ccstello, H. R. Crane, J. E. Daley, J. H. Devenney,
D. J. Gallagher, T. H. Hanlon,* Edith .Jameson, A. J. Mahan,* P. J. McCarthy,* M. H. Murphy, W. J. Ogar, Mary O'Toole, W. H. Parkeb, T. F. Quinn, Thomas Rush, G. L. Stahks, John
Swift, J. F. White.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT Or CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Liabilities.

Loans on real estate
Loans on shares

Temporary expense account
Cash
.

.

.

.

.

$287,535
7,785
83
5,459

00
00
00
29

$300,862 29

1923.

P.D.

8,

41

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets.

Loans on real estate
Xioans on shares

Temporary expense account
Cash
.

.

.

.

.

$129,650 00
3,310 00
267 22
4,416 43

$137,643 65

1923.

42

P.D.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates

8,

Part III.

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

Membership.
Added during year
Withdrawn during year
Members

717
407

.

127
2,845

......

Borrowers

398
25

75
76
518
42

Profits Distributed.

Unmatured Shares.
1^%;
1^%.

First term, 1?^%; second term,

third term,

iys%; fourth term,

Paid-up Share Certificates.
134%; third term,

First term, 1}4%; second term,

1M%;

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
16 real estate loans (average, $2,815.64 each; average rate, 63^%): 6}^%, $45,050.
18 share loans (average, $82.61 each; average rate, 63-^%,): 6J^%, $1,487.
1 loan 071 paid-up share certificates: 6J^%, $165.

Total Expenses for Year.
Rent.

Salaries.

Amount paid
Cost

for
per $1,000 of assets
.

Advertising.

$100.80

-

1.81

-

Other Expens

Total.

$131.90
2.37

$232.70
4.18

BOSTON — SUFFOLK CO-OPERATIVE BANK.
44

BKOMFIELD STREET.

Incorporated December

Albert N. Murray,

11, 1885.

Began business January

1,

1886.

Ernest A. Hale,

President.

Treasurer.

Board of Directors: W. L. Anderson, R. D. Birch, H. A. Oilman, G. R. Glendining, J. A. Grace, E. A.
Hale, P. R. Harmon, J. A. Harvey,* E. W. Hunter,* J. H. Milby, A. N. Murray, C. S. P.\tten,*
H. A. Stockwell, George Taylor, C. A. Whittemorb, A. M. Wyman.
Regular meetings for receipt of moneys second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans

on
on
on
on

real estate

shares

matured share

paid-up
LTnpaid interest

Cash

certificates
share certificates

.....

$1,671,175
55,425
4,750
4,800
2,654
48,078

00
00
00
00
38
39

Dues

$1,175,379
185,178
202,000
154,200
10
16,817
8,811
40,125
2,433
1,927

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Surplus

Due on uncompleted

loans

Dividends on matured shares
Dividends on paid-up shares

Membership.

Shares.
.

Withdrawn during year
Forfeited during year

11,142
6,136
5

Matured during year

583

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

00
75
00
00
00
69
39
00
44
50

$1,786,882 77

$1,786,882 77

Issued during year

1923.

Liabilities

31,731
11,026
1,010
771

Added during year
Withdrawn during year

762
497

.

Members

'.

Borrowers

.

.

.

.

.

.

.

2,878

658

Profits Distributed.

Unmatured Shares and Matured and Paid-up
Share Certificates.
First term, 1J4%; second term, 1/4,%; third term,

1K%:

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.
* Security

Committee.

P.D.

8,

43

Part III.
Bates and Averages on Loans.

434 real estate loans (average, $3,850.63 each; average rate, 5.87%): 5}4%, $412,375; 6%, $1,258,800.
3S4 share loans (average, $171.06 each; average rate, 6%): 6%, $55,425.
8 loans on matured share certificates: 6%, $4,750.
4 loans on paid-up share certificates: 6%, $4,800.

Total Expenses for Year.
Salaries.

Amount

paid for

$6,449.00
3.61

.

Cost per $1,000 of assets

Advertising.

Rent.

$1,083.96

$1,701.19

.61

.95

Other Expenses.

$2,944.61
1.65

Total.

$12,178.75
6.82

BOSTON — TRIMOUNT CO-OPERATIVE BANK.
73
Incorporated

Frank

May

TREMONT STREET.
18, 1911.

Began business June

12, 1911.

George H. Wyman,

A. Teele, President.

Treasurer.

D. Caldwell, W. F. Casey, Crescenzo Db Simone, K. S. De Witt,*
Nelson Floyd,* W. B. Grant, F. D. Ham, B. E. Holland, G. W. Judkins, G. A. C. Knight, J. F.
McDermott, F. E. Patten, L. H. Robbins, W. I. H. Salter, F. A. Teele,* J. W. Webber, H. C.
Whitcomb, G. F. Wollinger, G. H. Wyman, W. F. Wyman.

Board

of Directors: F. L. Brier,* V.

Regular meetings for receipt of moneys the second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Permanent expense account
Temporary expense account
Rent
Cash

.....
.....

Liabilities.

$554
942,500
24,858
900
2,160

73

00
00
00
00
1,201 00
911 76
366 66
31,804 39

$1,005,256 54

1923.

44

P.D.

8,

Part III.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

.

Salaries.

Rent.

$4,210.26
4.19

$1,237.53
1.23

Advertising.

$469.08
.47

Other Expenses.

Total.

$1,479.00
1.47

$7,395.87
7.36

BOSTON — UNION CO-OPERATIVE BANK.
107

SALEM STREET.
Room

(Other authorized location for receipt of moneys:
Incorporated June 30, 1911.

Edward

649, 73

Began business September

Tremont

Street.)

13, 1911.

Thomas Nutilb,

E. Ginsberg, President.

Treasurer.

Morris Bernstein, A. F. Bianco, Vincent Brogna, H. Delle Donne, A. R. Fredbrick, Gabriel Giarla, E. E. Ginsberg, Albert Goodman, Morris Gordon, Lotns Jacobvitz,*
Van Courtlandt Lawrence, J. L. McN.amara, Joseph Nutile, Thomas Nutile, Richard PinkSOHN, M. J. Sawyer,* I. W. Shapira,* C. B. Strout.

Board

of Directors:

Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Temporary expense account
Insurance and taxes paid
Cash

....

$1,000 00
224,150 00
15,625 00
71 20
85 19
7,932 20

$248,863 59

1923.

45
8, Part III.
Board of Directors: G. N. Adams, "W. B. Buckley, H. G. Btjbgbss, J. F. Crowley, J. J. Delba, J. J.
Devereux, W. T. a. Fitzgerald, W. A. Leonard,* D. F. McCormack,* O. T. O'Leary, J. A. Reed,*
E. J. Ripley, J. J. Riidd,* A. H. Sibley.

P.D.

Regular meetings for receipt

of

moneys the third Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Temporary expense account
Cash

.....

1923.

Liabilities

Assets.

00
00
00
00
1,621 22
198,598 03

$5,422,725
112,825
2,450
1,100

Dues

$3,949,176
707,771
566,000
221,600
1,642
40,454
175,000
14,592
27,326

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share account

Guaranty fund
Surplus
Interest

Personal accounts

16

00
00
13

70
00
63
75

593 15
35,000 00
162 73

Fines

Due on uncompleted

00

loans

.

$5,739,319 25

$5,739,319 25

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

29,611
18,821
154
1,850
94,327
32,639
2,830
1,108

Added during year
Withdrawn during year
Members

1,619
1,099
8,601

Borrowers

2,393

....
....
.

Profits Distributed.

Unmatured Shares.
l%e%; second term, 1%@%;
1%6%; fourth term, 15A6%.

First term,

third term,

Matured and Paid-up Share

Cortipicates.
1J^%; second term, 134%; third term,
fourth term, 1M%.

First term,

1K%;

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
1,886 real estate loans (average, $2,875.25 each; average rate, 5.87%): 5%, $4,700; 514%, $1,351,950; 6%,.
$4,066,075.
1,088 share loans (average, $103.70 each; average rate, 6%): 6%, $112,825.
6 loans on matured share certificates: 6%, $2,450.
2 loans on paid-up share certificates: 6%, $1,100.

Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$12,389.48

2.16

Rent.

Advertising.

$2,353.55 $1,516.68
.41

.26

Other Expenses.

P.D.

46

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans
Cash

on
on
on
on

real estate

shares

.

.

matured share

.

certificates
certificates

.....
paid-up share

1923.

Liabilities

$1,873,300
96,700
1,500
1,000
67,623

Dues

00
00
00
00
30

00
33
00
00
53
200 80

capital
Profits capital

$1,345,789
291,130
161,800
151,600
197

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account
Matured share account

.

.

Guaranty fund

32,378 10
16,771 43

Surplus

Due on uncompleted

35,380 00

loans

Security committee
Personal accounts
Dividends on paid-up share
cates
Dividends on matured share
cates

....

397 20
456 24

.

certifi

1,895 00
certifi-

2,127 67

$2,040,123 30

$2,040,123 30

Membership.

Shares.

Added during year
Withdrawn during year

10,013
3,319
31
1,043
29,252
11,738

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
.

Shares in force
Shares now pledged

Matured shares represented by certificates
Paid-up shares represented by certificates

742
338

....
....
.

Members
Borrowers

2,454

680

Profits Distributed.

809
758

1%%;

Unmatured Shares.
1%%;

Wia%; second term,
fourth term, 1%%.

First term,

third term,

Matured Share Certificates.
1M%; second term, 1%6%; third

First term,

l%e%; fourth term,

term,

15/i8%.

Paid-up Share Certificates.

1}4%; second term,
fourth term, 1M%-

First term,

1M%;

1M%;

third term,

Proportion of profits retained on voluntary withdrawals, 15%.

Rates and Averages on Loans.
614

real estate loans (aveTage, $3,644.55 each;

average rate, 5.71%): 5%, $280,550; 5>^%, $506,550; 6%,

$1,086,200.

173 share loans (average, $558.95 each; average rate, 5.85%): 5%, $4,400; 5^A%, $18,300; 6%, $74,000.
5 loans on matured share certificates: 6%, $1,500.
jS loans on paid-up share certificates: 6%, $1,000.

Total Expenses for Year.
Salaries.

Amount paid
Cost

for
per $1,000 of assets

$5,758.63
2.82

.

.

Rent.

Advertising.

$1,410. .36

$1,462.11

.69

.71

Other Expenses.

$2,866.39
1.40

Total.

$11,497.49
5.62

BOSTON — WORKINGMEN'S CO-OPERATIVE BANK.
73
Incorporated June

James D. McLellan,

9,

CORNHILL.

1880.

Began business June

11, 1880.

Frank

President.

Frances R. Burnham,

E. Bubbank, Treasurer.

Assistant Treasurer.

Board of Directors: A. T. Baker, C. L. Billman, D. M. Blair,* J. W. Blaisdell, F. E. Burbank, J. E.
Gaskin,* H. D. Heathfield, J. D. McLellan, S. N. Miller,* J. B. Neagle, C. M. Nichols,*
R. J. RoDDAY,* W. J. Tyler, E. W. Vinal, Frank Vogbl, J. W. Webb, L. O. White.
Regular meetings for receipt of moneys the second Friday of each month.
* Security Committee.

P.D.

8,

Assets.

$101,062
11,472,674
275,750
2,950
4,900

50
00
00
00

Dues

00

Forfeited share account
Matured share account

1,000 00

518,108 56
13,221 59
15,248 07
144 73
362,502 43

....

Personal accounts

.

capital
Profits capital

$8,520,078
1,462,851
1,158,200
1,077,000
9,778
6,247
150,642
33,351
119,858
2,602
19
209,930
2,377

.

Matured share

certificates
share certificates

Paid-up

.

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees
.

Due on uncompleted
Security committee
Personal accounts

Rent and income
Paddock building

loans

.....
....
Shares.

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

"Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged

.

Matured shares represented by

.

71,188
37,271

507

.

rental

43 75

.

3,800
208,049

$12,767,561 88

Membership.
Added during year
Withdrawn during year
Members

certificates

Paid-up shares represented by certificates

.

.

5,791
5,385

4,737
2,544
17,560
4,222

....
.

Borrowers

.

.68,121

.

00
72
00
00
29
07
98
42
68
88
25
00
50

704 14
13,876 20

.

$12,767,561 88

Issued during year

1923.

Liabilities

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Common form mortgages
Banking house
Permanent expense account
Temporary expense account

Cash

47

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

.

.

.

Profits Distributed.

Unmatured Shares and Matured and Paid-up
Share Certificates.
1M%; second term, 1M%I third term,
fourth term, 1M%.

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, none.

Kates and Averages on Loans.
$3,310.06 each; average rate, 5.75%): 5%, $1,143,450; 5M%, $769,150;
5J^%, $2,372,324; 5^%, $1,000; 6%, $7,186,750.
1,205 share loans (average, $228.83 each; average rate, 5.9%): 5%, $4,450; 5^%, $4,600; 514%, $17,750;
6%, $248,950.
11 loans on matured share certificates: 5}-^%, $150; 6%, $2,800.
18 loans on paid-up share certificates: 6%, $4,900.

3,466 real

estate loans (average,

Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

Rent.

$37,680.06 $12,000.00
2.95
.94

Advertising.

Other Expenses.

$3,949.11

$10,383.97

.31

.81

Total.

$64,013.14
5.01

BRAINTREE — BRAINTREE CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys:

Braintree National Bank,

Elm

Street,

Braintree.)
Incorporated June 24, 1889.

James H. Kilbrith,

Began business October

15, 1889.

Charles B. Cummings,

President.

Treasurer.

Directors: H. B. Blewett, G. T. Burnham, C. B. Cummings,* C. R. Cummings, H. W. Doane,
Marion C. Gillett, D. B. Hall, H. D. Higgins, L. S. Howland, L. S. Joslin, J. H. Kilbrith,*
Roger Lakin,* Joseph Landers, H. W. Mansfield, J. W. Mulcaht, O. B. Oakman, F. G. Pennock, N. P. Potter, W. A. Ross, G. E. Sampson, Edward Shat, H. S. Snow, G. W. Stevens, C. A.
Sullivan, J. H. Sullivan, L. W. Thayer, H. L. White, R. E. Whitman, H. W. Woodworth.

Board of

Regular meetings for receipt of moneys, third Tuesday of each month.
* Security Committee.

48

P.D.

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

1923.

Liabilities

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash

Dues

$595,850 00
4,586 00

capital
Profits capital

Paid-up

1,388 19

....

certificates
share certificates

Guaranty fund

33 40
28,886 25

Premiums

752
421

Fines
Transfer fees

2

Withdrawal profits
Due on uncompleted loans
Security committee

478

00
00
43
04
36
20
78
50
67

16,326 00

99 00
32 35

Suspense
$631,491 84

$631,491 84

....

Shares.
2,942

.

51

8,551
7,836
14,230

Surplus
Interest

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

00

S375,140
70,621
109,800
27,200

.

Matured share

748 00

909
19

362

Membership.
Added during year
Withdrawn during year
Members

235
116
831

Borrowers

239

.....
.....

9,271
3,258

Profits Distributed.

549
136

Unmatured Shares.
First term,

3%; second term, 3%.

Matured Share
First term,

2^%;

Certificates.
second term, 2%%.

Paid-up Share Certificates.
2]4%; second term, 23^%.

First term,
I

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
average rate, 6.3%): 6.3%, $595,850.
Zoans (average, $199.39 each; average rate, 6.3%)): 6.3%, $4,586.

S24. real estate loans (average, $2,660.04 each;
;2S s^iare

Total Expenses for Year.
Rent.

Salaries.

Amount paid

for

.

.

Advertising.

$2,373.33

$480.00

$79.80

3.76

.76

.13

Cost per $1,000 of assets

Other Expenses.

$651.74
1.03

Total.

$3,584.87
5. 68

BRIDGEWATER — BRIDGEWATER CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: H.
Incorporated

Alfred

F. Field,

Jr.,

May 27,

1902.

J.

Stram at State Farm, Mass.)

Began business June

16, 1902.

Fred W. Capel,

President.

Treasurer.

Board of Directors: G. J. Alcott,* C. H. Bixby, J. A. Bowman, F. W. Capel, Thomas Carroll, S. B.
Cholerton,* a. E. Cox, Jr., J. J. English, A. F. Field, Jr.,* W. P. Hutchinson, H. L. Jenkins,
J. H. Jones, S. J. Kingston, W. S. Prophett, Frederick Waite, B. E. Ward, R. W. White, A. H.
Willis.

Regular meetings for receipt of moneys the third

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Temporary expense account
Cash

....

$4,000

1923.

P.D.

8,

Part III.

49

....

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

1,337

.

413
14

72
4,188

Added during year
Withdrawn during year
Members

84
38
427

Borrowers

139

.....
.....

Profits Distributed.

1,377

121

Unmatured Shares.
First term,

3%; second term, 3%.

Matured Share
First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

Certificates.

23^%; second term, 2yi%.

series less

than 5 years old; after 5 years,

Rates and Averages on Loans.
133 real estate loans (average, $1,906. .55 each; average rate, 6%): 6%, $251,665.
17 share loans (average, $137.65 each; average rate, 6%): 6%, $2,340.

Total Expenses for Year.
Salaries.

Amount

$645.87
2.46

paid for
Co.st per $1,000 of assets
.

Rent.

Advertising.

Other Expenses.

$96.00

$30.35

$142.39

.37

.12

.54

Total.

$914.61
3.49

BROCKTON — CAMPELLO CO-OPERATIVE BANK.
Incorporated October

Edward H. Keith,

3,

1877.

Began business October

8,

1877.

Frank W. Clark,

President.

Treasurer.

Board of Directors: L. H. Carr, F. W. Clark, T. F. Crowell, A. E. Cushing, Harry Dunbar, W. H.
Emerson, F. R. Hayward,* G. M. Howard, E. A. Keith, E. H. Keith, H. L. Kingman,* A. B.
Marston, C. E. Moore, W. T. Packard, Lars Peterson, H. C. Ripley,* F. M. Wade, H. H.
Williams.
Regular meetings for receipt of moneys the second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Loans on real estate
Loans on shares
Common form mortgages
Real estate by foreclosure, etc.
Unpaid fines
Temporary expense account
Insurance and taxes paid
Cash
.

.

.

.

.

.

.

$2,964,550 00
104,200 00

.

.

800 00
2,634 66
306 60
1,618 59
29 71
54,677 57

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus
Interest

Transfer fees

$2,129,143
451,965
259,400
194,000
47,000
25,537
9,840
2

$3,128,817 13

18

85

$3,128,817 13

....

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Retired during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

00

00
00
00
52

50
568 08
11,360 00

Withdrawal profits
Due on uncompleted loans

.

1923.

Liabilities

12,035
6,505
53

Added during year
Withdrawn during year
Members

200
963
47,115
18,531

Borrowers

1,297

970

687
373

.....
.....

3,677
1,363

Profits Distributed.

Unmatured Shares.
First term,

3%; second term, 3%.

Matured Share
First term,

First term,

2%%;

Certificates.
second term, 2%%.

Paid-up Share Certificates.
23^%; second term, 23^%.

Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old;
from 5 to 8 years old; after 8 years, none.
* Security

Committee.

10% on

series

P.D.

50

8.

Part III.

Rates and Averages on Loans.

1,326 real estate loans (averaee, 82,235.71 each; average rate, 6%): 6%, $2,964,550.
392 share loans (average, $356.85 each; average rate, 6%): 6%, $104,200.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

Other Expenses.

Salaries.

Rent.

$7,813.00
2.49

$813.85

$321.67

$1,653.43

.26

.10

.52

Advertising.

Total.

$10,601.95
3.37

BROCKTON — MONTELLO CO-OPERATIVE BANK.
W. L. Douglas Shoe Co., E. E. Taylor Co.,
Keith Co.)

(Other authorized locations for receipt of moneys:

and George

Incorporated August

Walter

E.

Began business September

11, 1911.

14, 1911.

Arvid E. Wetzell, Treasurer.

E. Johnson, President.

Board of Directors: S. P. Alden, D. W. Battles, J. J. Cooper, J. L. Emery,* J. H. Gordon, E. L. Gowdt,
F. Hall,* H. C. Johnson, W. E. Johnson, M. D. Long, W. L. Merrill, A. E. Nelson, C. D.
Nevins, C. a. Noyes, J. B. Nye,* W. B. Packard, A. R. Perkins, F. L. Price, C. C. Reed, B. E.
Schwartz, B. J. Torrey, E. L. Tribon, A. E. Wetzell.

W

Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

....
.....

Loans on real estate
Loans on shares
Unpaid fines
Permanent expense account
Temporary expense account
Insurance and taxes paid
Dividends on paid-up share
cates

•

.

cates

Cash

$732,150
29,605
25
517
832
56

.

.

.

.

Dues capital
Profits capital

04

•Matured share certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus

00
87
85

185 01

•

.

certifi-

531 66
18,563 43

.

.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

.

_

22

130,706
58,000
15,600
19
11,303
12,423
6,283

Interest

00
00
00
15

43
14

50
129 42
4,750 00

Withdrawal profits
Due on uncompleted loans

$782,466 86

$782,466 86

.

00

.'?543,252

.

Transfer fees

......
.

00
00

certifi•

Dividends on matured share

1923.

Liabilities

.

2,659
1,360
23

408

Membership.
Added during year
Withdrawn during year
Members
.

Borrowers

10,042
4,345

290
78

244
166
906
342

....
....

Profits Distributed.
First term,

Unmatured Shares.
1^%; second term, 1%"/

third term.

iys%; fourth term, 13^%.

^Iatured Share Certificates.
Fourth term, 13^%.

Paid-up Share Certificates.

1M%; second term,
fourth term, 1^%-

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, 25% under 5 years;
8 years, none.

10% from

1M%;

third term,

5 to 8 years; after

Rates and Averages on Loans.
S95 real estate loans (average, $2,481.86 each; average rate, 6%); 6%, $727,400.
SO sAoreioarJS (average, $370.06 each; average rate, 6%) 6%, $29,605.
:

Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets
.

$2,569.36
3.28

Rent.

Advertising.

Other Expenses.

$327.17

$352.72

$683 70

.42

.45

.87

* Security Committee.

.

Total.

$3,932.95
5.02

P.D.

8,

Part III.

51

BROCKTON — SECURITY CO-OPERATIVE BANK.
Incorporated December 17, 1877.

Bradfoed E. Jones,

Began business December

President.

Milton E. Smith,

20, 1877.

Grant D. Anthont,

Treasurer.

Assistant Treasurer.

Board of Directors: G. D. Anthony, J. T. Corcoran, A. L. Cushman, G. N. Gordon, J. H. Gordon
J. W. Hall,* S. M. Hatward,* Embert Howard, B. E. Jones, Kenneth McLeod
J B Nye'
David Perkins, H. A. Poole,* G. A. Thatcher, E. M. Thompson, E. T. Vinal, H. E. Williams'
B. B. WiNSLOW, F. T. YOUNGQUIST.
'

Regular meetings for receipt of moneys the third Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid fines
Permanent expense account
Temporary expense account
Insurance and taxes paid
.

Cash

....

$15,000

1923.

P.D.

52

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Keal estate by foreclosure,
Unpaid interest
Unpaid fines
Cash
.

.

.

$25,000 00
00
45,500 00
101 02
1,255 83
153 54
69,879 65

1,256,2.50
etc.

.

.

.

Matured share
Paid-up share

certificates
certificates

Forfeited share account

Shares.
.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

5,372
2 224

59
454
21,280
7,094
193
97
'

.

Guaranty fund
Surplus

Due on uncompleted
$1,398,140 04

Issued during year

Dues capital
Profits capital

loans

1923.

P.D.

8,

Part

53

III.

Membership.

Shares.
Isiued during year

2,978
1,129
141
7,384
1,207
119

.

Withdrawn during year
Forfeited during year
Shares in force

Shares now pledged
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members
Borrowers

224
106

.

.

.

.

.

.

.

552
49

.

Profits Distributed.

Unmatured Shares.
1%%; second term, 1^%; third term,
13^%; fourth term, 13^%.

First term,

Paid-up Share Certificates.
1M%; second term, l}4%; third term,

First term,

1M%;

fourth term,

1^%-

Proportion of profits retained on voluntary withdrawals, none.

Bates and Averages on Loans.
SS

real estate loans (average, $5,647.57 each;

7M%.

7^%,

$2,500;

average rate, 6.54%) 6%; $47,500;
;

6H%,

$85,169; 7%, $43,000;

$8,200.

SO share loans (average, $178.25 each; average

rate,

6.18%): 6%, $2,515; 6}^%, $770; 7%, $280.

Total Expenses for Year.
Salaries.

Amount paid

Rent.

Advertising.

-

for
of assets
.

Other Expenses.

-

Total.

$619.92
3.13

$619.92
3.13

Cost per $1,000

CAMBRIDGE — CAMBRIDGE CO-OPERATIVE BANK.
Incorporated September

Feed A. Ober,

5,

1877.

Began business September

12, 1877.

Fred W. Sleeper,

President.

Treasurer

Board of Directors: F. J. Callahan,* J. S. Condinho, T. J. Conroy,* E. W. Coyle, T. J. Conroy, T. F.
Hurley, F. L. Kirchgassner, W. E. Knight, E. J. Martin,* E. J. Martin, 2d, J. P. McCoRivticK,
P. F. McGeary, Lorenzo Nocellos, F. A. Ober, Henry Reno, D. N. Sleeper, F. W. Sleeper,
C. J. Williams.
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Unpaid interest
Cash

$50 00
289,150 00
7,414 00

427 16
5,927 37

Dues capital
Profits capital

$221,245
43,022
34,400
2,178

Matured share certificates
Guaranty fund

Gates

62

00
51

....

60 00

certifi

$302,968 53

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates

00

1,589 40

Surplus
Security committee

Dividends on matured share

.

1923.

Liabilities

473 00
$302,968 53

Membership.
1,987

739
13

122
5,304
1,721
172

Added during year
Withdrawn during year
Members
Borrowers

....
....

165
71

562
146

Profits Distributed.

Unmatured Shares and Matured Share CerFirst term,

l^%;

tificates.
second term, 1?^%; third term,

12%4%; fourth term, 1J^%.
Proportion of profits retained on voluntary withdrawals, 1 to 4 years inclusive, 25%; 5 to 8 years inclusive,
15%; nothing thereafter.

Bates and Averages on Loans.
117 real estate loans (average, $2,471.36 each; average rate, 6%): 6%, $289,150.
S9 share loans (average, $255.65 each; average rate, 6%): 6%, $5,589; 6K%, $1,825.
* Security

Committee.

P.D.

54

8,

Part III.

Total Expenses for Tear.

Amount

paid for

.

.

Cost per $1,000 of assets

Other Expenses.

Salaries.

Rent.

$1,080.00
3.57

$150.00

$50.39

$421.14

$1,701.53

.50

.17

1.39

5.63

Advertising.

Total.

CAMBRIDGE — CENTRAL SQUARE CO-OPERATIVE BANK.
Incorporated June 12, 1922.

Henry

F.

Ramhofer,

Began business June

15, 1922.

William H. Reardon,

President.

Jr.,

Treasurer.

Board of Directors: R. H. Ahern, E. L. Bishop, D. A. Buckley, R. R. Cameron, J. A. Carrig,* A. A.
Crawford, T. F. Downey, H. H. Fiske, Einar Evenson, C. A. Geilfuss, F. J. Good, D. R. Morgan, B. E. McDeemott, H. J. O'Brien, S. W. Pill, J. W. Powers, H. F. Ramhofer,* W. H. Reardon, Jr., J. J. Shine, W. J. Whelan, J. F. White.*
Regular meetings for receipt of moneys the third Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Dividends on paid-up share
.

cates

Cash

.

Liabilities.
.

.

......
.

.

$59,200
110
602
26

00
00
68
64

certifi.

.

30 00
1,442 04

$61,111 36

1923.

P.D.

8,

Assets,

Bonds and notes
Loans on real estate
Loans on shares

Common
Unpaid
Unpaid

.«5,000

form mortgages

interest
fines

....
.

.

Insurance and taxes paid

Cash

55

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

.

00

1923

56

P.D.
Shares.

8,

Part III.

Membership.

Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates
.

5,501
2,590
115
18,527
6,762

.....431
......

Added during year
Withdrawn during year
Members
Borrowers

.

155

.

.

.

.

.

.

.

.

255

1,625

.

413

Profits Distributed.

Unmatured Shares.
First term, 1.50%; second term, 1.44%; third term,

1.50%; fourth term, 1.50%.

Paid-up Share Certificates.
First term, 1.25%,; second term, 1.25%,; third term,

1.25%; fourth term, 1.25%.
Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
Z64 real estate loans (average, $3,581.91 each; average rate, 6.02%) 6%, $925,526; 7%, $20 100
149 share loans (average, $278.93 each; average rate, 6%); 6%, $40,230; 7%, $1,330.'
1 loan on paid-up share certificates: 6%, $100.
:

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$2,350..56

$464.21

2.36

.47

Advertising.

-

Other Expenses.

$1,949.18
1.95

Total.

54,763.95

4.78

CAMBRIDGE — NORTH CAMBRIDGE CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: 424 Massachusetts Avenue, Lexington.)
Incorporated June 27, 1912.

Began business July

r. E. ViANO, President.

9,

1912.

Edward

Griffin, Treasurer.

Conley, J. W. Connor,* O. C. Francis,* T. I.
Preebijrn, Isidore Gottesman, Edward Griffin, J. H. Harrington, T. E. Kennedy, John D.
Lynch,* J. D. Lynch, W. B. McCoy, .John McKenzie,*C. O. Mason, F. X. Masse, P. J. Nelligan,
James Proudfoot, L. J. Reynolds, E. L. Tyler, F. E. Viang,* John J. Viano.

Board of Directors:

S. P.

Bowen, H.

C.

Brown,

J. J.

Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on paid-up share

certificates

Temporary expense account
Cash
.

.

.

...

$981,000 00
59,1.54 00
850 00
397 29
8,132 52

1923.

P.D.

8,

57

Part III.
Rates and Averag^es on Loans.

£95 real estate loans (average, $3,325.42 each; average rate, 6%): 6%, $981,000.
1S9 share loans (average, $458.55 each; average rate, 6%): 6%, $59,154.
S loans on paid-up share certificates: 6%, $850.
Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$2,922.52
2.78

Rent.

Advertising.

$358.13

$383.61

.34

.37

Other Expenses.

58

P.D.

CANTON — CANTON CO-OPERATIVE BANK.
Incorporated January

John B. Robinson,

10, 1891.

Began business February

President.

8,

Part III.

10, 1891.

James E. Grimes, Treasurer

Board of Directors: R. J. Baldwin, F. H. Bisbee, E. C. Britton,* H. W. Curtis, W. S. Draper,
EsTEY,* John Everett,* M. H. Galligan, J. E. Grimes, P. M. Leavitt, Hugh McPherson,
O'Leary, J. B. Robinson,* L. E. Smith, D. G. Trayers.*
Regular meetings for receipt of moneys the second Tuesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

J.
J.

1923.

G.
A.

P.D.

8,

Part

59

III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBEB BUSINESS,

.

...

Liabilities

Assets.

Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines
Cash

1923.

$349,875 00
14,232 00
946 47
132 46
2,985 21

Dues

252,849

capital
Profits capital

Matured share certificates
Paid-up share certificates
Forfeited share account
Matured share account
.

.

Guaranty fund
Surplus

Due on uncompleted loans
Personal accounts
Dividends on paid-up share
.

cates

...

Dividends on matured share
cates

$368,171 14

certifi-

certifi

60

P.D.

Issued during year

8,

Part III.

Membership.

Shares.
.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates

.....248

Added during year
Withdrawn during year
Members

3,426
2,206
850
17,076
6,311

.

.

.

.

......
"

.

Borrowers

247

.

.

.

.

249

1,544

465

Profits Distributed.
First term,

Unmatured Shares.
2%%; second term, 2%%.

Matured Share
First term,

Certificates.

25^%; second term,

2%%.

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
SS7

real estate loans (average, $2,899.68 each;

average rate; 5.86%):

$823,375.

5M%.

$11,650;

5M%,

$287,150; 6%,

7S share loans (average, $501.28 each; average rate, 5.96%); 5}^%, $2,350; 6%, $36,750.

Total Expenses for Year.
Salaries.

Amount

paid for

.

.

Cost per $1,000 of assets

$5,249.00
4.30

Rent.

$129.00
.11

Advertising.

$314..50
.26

Other Expenses.

$2,612.38
2.14

Total.

$8,304.88
6.81

CHELSEA — VICTORY CO-OPERATIVE BANK.
Incorporated February 24, 1920.

Thomas

Began business March

F. Driscoll, President.

8,

1920.

Daniel H. Sullivan,

Treasurer.

M. Bloomberg, Campbell Bosson, W. F. Callahan, J. J. Carroll, W. J. Cas.siDY, T. F. Driscoll, Joseph Finger, J. J. Foley, G. W. Ford,* G. A. Innes, C. A. Malone, J. J.
McBride, D. J. McCarty, C. J. McDonough, W. J. Murdock, J. F. Murphy, J. L. Murphy, F. W.
Proctor, Jr., T. F. Punch, Julius Rosenberg, Abraham Salter, Joseph Slotnick, J. M. Smith,
Daniel H. Sullivan,* D. Henry Sulliv.-^n,
F. Sullivan, J. F. Tierney,* Maurice Tobey,

Board

of Directors:

J.

.T.

E.

J.

Yoke.
Regular meetings for receipt of moneys the second

Monday

of each

month.

^

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Cash

Liabilities.

$91,350 00
2,230 00

350 00

....

9 00
5,538 58

$99,477 58

....
....
Shares.

Issued during year

Withdrawn during year

Shares in force
Shares now pledged
Paid-up shares represented by certificates

1,471

530
3,480
604

66

1923.

P.D.

8,

Part III.

61

Rates and Averages on Loans.

41 real estate loans (average, 12,228.05 each; average rate, 6.92%): 6%, $2,750; 6J^%, $8,500; 7%, $80,100
15 share loans (average, $148.60 each; average rate, 6.91%): 6%, $185; 7%, $2,045.

Total Expenses for Year.
Salaries.

Amount

paid for

Rent.

Other Expenses.

Advertising.

$300.00
3.03

.

Cost per $1,000 of assets

$48.50

Total.

$114.96
1.16

.49

$463.46.

4.68

CHICOPEE — ALDENVILLE CO-OPERATIVE BANK.
Incorporated July 31, 1920.

Lionel

J.

Dugas,

Began September

1,

1920.

Joseph C. Dbapeau, Treasurer.

President.

Board of Directors: Frank Auchtee, J. H. Beauchamp, J. A. M. Brochu, Homer Cartier, J. L. CharBONNEAU, A. L. Codaire, J. A. Croteau, C. E. Day, O. Desrochek^, Symphorien Desrochers,.
J. C. Drapeau, Raoul Ducharme,* L. J. Dugas, J. J. Harnisch, M. B. Howard,* N. F. LachaPELLE, J. A. Lamothe, Gborge Laroche, H. J. Lavoib, Nicolas Nadeau, J. A. Paradis, Ambdee
Robert, O. J. Terrien,* B. J. Tessier, A. Thbroux.
Regular meetings for receipt of moneys the

last

Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Insurance and taxes paid
Cash

$30,350 00
1,635 00
75 00
35 00
3,850 42

....

Dues capital
Profits capital

$27,848 00

.

1,966 1&
3,600 00

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans

90 00

.

185 00

510 93
1,680 00
20 47
44 86

Tellers' overs

Dividends on paid-up shares
$35,945 42

....
....

$35,945 42

Membership.

Shares.

Issued during year

1923.

Liabilities

512
225

Withdrawn during year

Shares in force
Shares now pledged
Paid-up shares represented by certificates

1,205

251

Added during year
Withdrawn during year
Members
Borrowers

7»

.

31

.

.

.

.

.

.

.

.

196

28

18

Profits Distributed.

Unmatured Shares and Paid-dp Share CertifiFirst term,

1H%;

1M%;

cates.
second term,

fourth term,

Proportion of profits retained on voluntary withdrawals, 100% on series under
1

to 2 years;

25% on

series

from 2 to 6 years;

1M%;

1

year;

50% on

after 6 years, none.

Rates and Averages on Loans.
14 real estate loans (average, $2,167.14 each; average rate, 6%) 6%, $30,350.
i6 «/iare toons (average, $102.19 each; average rate, 6%); 6%, $1,635.
;

Total Expenses for Year.
Salaries.

Amount

paid for

.

Cost per $1,000 of assets

Rent.

$120.00
3.34

third term,

1M%-

Advertising.

$10.00
.28

Other Expenses.

series

from

'

P.D.

62

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

1923.

Liabilities

Assets.

Dues

$399,200 00
U,571 00
24 S 49
522 85
'2,619 09

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Cash

....

capital
Profits capital

Paid-up

00
98
00
00
06
99
00
96
45
08
02

$310,234
45,578
34,000
4,800
639
4,842
5,510
6,088
148
108
5,100
110

.

.

.

Matured share

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines

Withdrawal profits
Due on uncompleted loans
Over and short

89

$417,161 43

$417,161 43

a

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

2,109
1,123
108
136
8,244
2,620
170

Added during year
Withdrawn during year

172
129

Members

872
226

....
....
.

Borrowers

Profits Distributed.

Unmatured Shares and Matured Share Cer-

24

tificates.
First term, 2}'^%; second term,

2}4%.

Paid-up Share Certificates.
Second term, 2J^%.
Proportion of profits retained on voluntary withdrawals, 25% up to 5 years;
7 years; 5%, 7 to 8 years; after 8 years, none.

20%

15%

5 to 6 years;

6 to

Rates and Averages on Loans.
173 real estate loans (average, $2,307.51 each; average rate, 5.8%,) 5%, $64,200;
S3 share loans (average, $274.92 each; average rate, 6%): 6%, $14,571.
:

5M%, $7,100;

6%, $327,900.

Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets

.

.

Rent.

-

$1,000 00

Advertising.

Other Expenses.

$162.81

.

2.40

1.60

.39

Total.

$1,831.49
4.39

CLINTON — CLINTON CO-OPERATIVE BANK.
Incorporated September 23, 1887.

William

L.

Hubbard,

Began business October

20, 1887.

Charles

President.

Annette

L.

Stevens, Treasurer.

V. Durkin, .Assistant Treasurer.

Board of Directors: P. J. Cannon, W. J. Cox, W. R. Dame, G. S. Gibson,* C. H. Hastings, Charles
Heinvitz, L. M. Hills, N. L. Howe,* W. L. Hubbard, G. C. Hudson, E. H. Jaquith, A. J. Laythe,
C. L. Stevens,* A. R. Stevenson, F. F. Wallace.
Regular meetings for receipt of moneys the third Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Unpaid interest
Permanent expense account
Temporary expense account

Cash

....

1923.

Liabilities

Assets,

00
00
01
00
538 47
32,052 50

$1,209,425
22,155
2,224
600

Dues capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Due on uncompleted

loans

Security committee

Proceeds of foreclosure sale

00
78
00
00

17,707
16,021
6,461
103

26

1

00

67
16
17
14

9,200 00

30 00
292 80
$1,266,994 98

$1,266,994 98

* Security

$763,331
143,170
194,400
115,600
676

Committee.

P.D.

8,

63

Part III.
Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

6,727
2,485
93

.

....
....

Borrowers

582

405

18,802
7,125

146
1,812

613

Profits Distributed.

972
578

Unm-\tured Sh.mies and Matured Share Certificates.
First term, 1}'2%; second term, 13')%; third term,

1>J%; fourth term, 1M%.
Paid-up Share Certificates.
\\i%\ second term,
fourth term, 1,14%-

First term,

1K%;

1M%;

tliird

term,

Proportion of profits retained on voluntary withdrawal, none.

Rates and Averages on Loans.
519

real estate loans (average, $2,330.29 each;
$2.30,1300; 7%, .$715,7.50.

average rate, 6.4.5%): 5%, $71,025; 5}4%, $192,350; 6?

137 share loans (average, $161.68 each; average rate,

6.;

)%): 51

$1,075; 6%, $2,640; 7%, $18,440.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$3,284.00
2.59

Other E.^pensea.

Advertising.

$600.00

$207.75

.47

.16

$2,632.98
2 OS
.

Total.

$6,724 73
5.30
.

CLINTON — WACHUSETT CO-OPERATIVE BANK.
Incorporated March

William A. Fuller,

6,

Began business March

1913.

13, 1913.

Lyman

President.

C. Ayers, Treasurer.

Board of Directors: E. R. B. Allardice, L. C. Ayers, G. A. Brown, J. H. Coughlin, T. S. Davis, J. M.
Donnelly, J. W. Forrester, W. A. Fuller, J. ,j. Goodwin, G. H. Hager,* H. F. Hartwell, F. E.
Howard,* P. Maitl.a.nd, N. E. Mather, W. R. Mitchell,* J. B. O'Toole,* J. H. O'Toole, E. G.
Osgood, A. O. Perham,* E. O. Pratt, A. J. Ruane, A. T. Saunders, N. A. Sey'mour, F. G. Stowers,
E. T. WiLLsoN, Jr.
Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Temporary expense account

Cash

.....

761,560 00
29,073 00
1.50

00

.590 81

14,516 93

Dues

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
Security committee

Bank

loans

.

Forfeited during year

Shares in force
Shares now pledged
Paid-up shares represented by ce

GO
81

00
76
04
53
34

29
3 50
114 47
17,350 00
13 00

$805,890 74

....

Membership.

Shares
Issued during year

$560,372
102,085
76,800
194
6,987
2,965
8,867
137

30,000 00

$805,890 74

Withdrawn during year

1923.

Liabilities

4,493
2,643
37
14,287
4,850

Added during year
Withdrawn during year
Members
Borrowers

384
First term,

.....
.....

270
179
1,275

406

Profits Distributed.
Unmatured Shares.
1}^%; second term, lj'2%; third term.

1)4%; fourth term,

1H%.

Paid-up Share Certificates.
First term, 1}4'%; second term, 134%; third term,
fourth
term, 131%.
134%;
Proportion of profits retained on voluntary withdrawals, .50% of last 3 months dividend.
* Security

Committee.

P.D.

64

8,

Part III.

Rates and Averages on Loans.
301 real estate loans (average, $2,530.10 each; average rate, 6.79%): 5%, $3,200; 5>^%, $1,200; 6%, $154,000;
7%, $603,160.
105 share loans (average, $276.88 each; average rate, 6.92%): 6%, $2,280; 7%, $26,793.
S loans on paid-up share certificates: 7%,, $150.

Total Expenses for Year.
Salaries.

Amount paid
Cost

for
per $1,000 of assets
.

.

$1,734.63
2.15

Rent.

Advertising.

$250.00

$401.49

.31

.50

Other Expenses.

P.D.

8,

Part III.

65

CONCORD — CONCORD CO-OPERATIVE BANK.

(Other authorized locations for receipt of moneys: Concord Junction; General Store, South
Lincoln; Bedford, Mass.)
Incorporated December

Raymond D. Willard,

19, 1921.

Began business February

1.5,

1922.

Benjamin Moody,

President.

Treasurer.

Board of Dirertor.i: E.B. Caiger, W. B. Conant, W, E. Conant, .J. J. Connorton, C. M. Cox,* Kennan
Damon, H. B. Daniels, R. D. Donaldson,* J. A. Finigan,* G. C. Gould, J. W. Hendrickson,
Samuel Hoar, G. H. Lovejoy, Benjamin Moody, James Naglb, Thomas Peterson, B. L. Pratt,
W. A. Rodday,* Raymond Wheeler, R. A. Whittier,* R. D. Willard, R. L. Wilson, T. A. Wilson.
Regular meetings for receipt of moneys the third Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Permanent expense account
Temporary expense account

Cash

.....

$94,800 00

1923.

P.D.

66

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash

1923.

Liabilities

$1,000 00
513,865 00

....

Dues

$335,614
59,611
49,800
29,000
36

capital
Profits capital

Matured share

11,215 00
100 00

Paid-up share

627 97
135 20
12,722 SO

Matured share account
Guaranty fund

certificates
certificates

Forfeited share account

402 12
9,043 21
10,118 57
5,692 36

Surplus
Interest

211 90
50

Fines
Transfer fees

Withdrawal

123 18
40,000 00

profits

Bills pa.vable

13 06

Accrued interest
$539,665 97

$539,665 97

Membership.

Shares.
Issued during year

1,829

.

Withdrawn during year
Matured during year

641
155
7,270

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members
.

.....717
.

.

.

.

......

.

Borrowers

3,039

.

.

.

145

Proportion of profits retained on voluntary withdrawals,

Sh.vre Certificates.

2}4%; second term, 23^%.

25% on

series less

than 5 years.

Bates and Averages on Loans.
average rate, 5.87%) 53^%, $127,525; 6%, $386,340.
rate, 5.98%,): 53^%, $335; 6%, $10,880.
:

S7 share loans (average, $303.11 each; average

Total Expenses for Year.
Salaries.

paid for

.

Cost per $1,000 of assets

.

$1,400.00
2.59

96

279

Unmatured Shares.
2%%; second term, 2^%.

Matured and Paid-up
First term,

2-42 real estate loans (average, $2,123.41 each;

135

.

Profits Distributed.

249
First term,

Amount

00
07
00
00
00

Rent.

$517.03
.96

Advertising.

$235.30
.44

Other Expenses.

P.D.

8,

67

Part III.
Membership.

Shares.
Issued during year

4,771
1,712

.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged

895
20,511
7,856

.

Matured shares represented by
Paid-up shares represented by

certificates
certificates

349
175

P.D.

68

8,

Part III.

Sates and Averages on Loans.

estate loans (average, $2,389.39 each; average rate, 5.75%): 5.3^o, $78,375; 5i4%, 359,875; 6%,
8196,265.
21 share loaris (average, $275 each; average rate, 5.86%): 5.3%, $425; 5^%, $1,145; 6%, $4,205.
3 loans on matured share certificates: 6%, $1,130.

140 real

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

Salaries.

Rent.

$500.00
1.45

$100.00

Advertising.

Other Expenses.

-

Total.

$274.55

$874 55

.80

2..54

.29

.

EAST BRIDGEWATER — EAST BRIDGEWATER CO-OPERATIVE BANK.
Incorporated February

Charles L. Ntjtteh,

12, 1913.

Began business

April

1,

1913.

Ferd E. Fuller,

President.

Treasurer.

Board of Directors: J. R. Baker, W. B. Bannerm.^n, G. A. Burrell, L. R. Fisher, F. E. Fuller,* U. G.
Johnson, A. L. Leland, H. L. Moorhouse,* E. T. Morse, W. E. Murphy, J. F. Murray, C. L.
Nutter,* S. K. Nutter, James O'Brien, M. F. Roach,* G. A. Root, A. B. SHAW,i,H. C. Thorndikb,
G. M. Webber.*
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Permanent expense account
Cash

....

$1,000
203,150
4,720
551
3,148

00
00
00
39
95

$212,570 34

1923.

P.D.

8,

EASTHAMPTON — EASTHAMPTON CO-OPERATIVE BANK.
Incorporated March 24, 1900.

William

69

Part III.

F.

Began business April

2,

1900.

William

Coyle, President.

L. Pitcher, Treasurer.

Board of Directors: W. F. Coyle,* F. C. Howard, A. J. Kienle,* P. M. Kugler,
A. D. Sanders.
Regular meetings for receipt of moneys the

first

Monday

of each

W.

L. Pitcher,*

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Unpaid interest

$209,210
5,433
441
5,846

Cash

00
00

Dues

16

Matured share

92

$163,565
32,533
15,600
86
3,750
4.985

capital
Profits capital
.

certificates

Forfeited share account

.

Guaranty fund
Surplus

Dividends on matured share
cates

$220,931 08

Shares.

1923.

Liabilities

Assets.

.

.

.

00
42
00
71

90
38

certifi.

.

410 67
$220,931 OS

70

P.D.

Issued during year

8,

Part III.

Membership.

Shares
2,282

.

Withdrawn during year

981

Forfeited during year

10

Matured during year

220

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

107
55
837

Borrowers

328

9,0 nl

3,273

306
156

Distributed.
Unmatured Shares.
First term, 3%; second term, 3%.
Profiits

Matched and Paid-up Share
First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

Certificates.

23^%; second term, 234%.

series less

than 5 years old; after 5 years,

Kates and Averages on Loans.
S20 real estate loans (average, $1,915.31 each; average rate, 6%): 6%, $612,900.
24 share loans (average, $201.63 each; average rate, 6%): 6%, $4,840.

Total Expenses for Tear.

Amount

paid for

.

.

Cost per $1,000 of assets

Salaries.

Rent.

$1,721.84

$192.00

2.70

.30

Advertising.

Other Expenses.

$31.03
04

Total.

$480.51

$2,425.35

.75

3.79

EVERETT — EVERETT CO-OPERATIVE BANK.
Incorporated September 24, 1890.

Charles B. Ladd,

Began business October

14, 1890.

Ernest R. Fall,

President.

Treasurer.

D. P. Bailey, F. E. Boyd, E. R. Fall,* C. S. Hallett, G. E. Hunt, F. E. Jennings,
C. B. Ladd,* C. C. Nichols, J. W. Philbrick,* W. J. Rockwood, W. C. Simes, E. B. Slocdm.

Board

of Directors:

Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Unpaid fines
Permanent expense account
Temporary expense account
Cash

....

.....

$1,150,626 00

1923.

P.D.

8,

71

Part III.
Total Expenses for Year.

Amount

paid for

Cost per $1 ,000

.

of assets

Other Expenses.

Salaries.

Rent.

Advertising.

$3,850.08
3.20

$1,425.36
1.19

$88.00

$1,088.50

>6,451.94

.07

.90

5.36

Total.

FALL RIVER — FALL RIVER CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: Massasoit-Pocasset National Bank, Office
Fall River Bleachery, Office Conanicut Mills, Office Lincoln & Hood.)
Incorporated December

George

1,

1888.

Began business December

12, 1888.

RuDOLPHUS N. Allen,

O. Lathrop, President.

Treasurer.

A. E. Brownell, Assistant Treasurer.

Board of Directors: R. N. Allen, Jefferson Borden, .Jr., S. H. Borden, C. A. Brown,* M. R. Brown,
R. W. BuRRELL, C. E. Bury, C. D. D.wol, E. J. French, J. W. Grant,* H. M. Hathaway, P. H.
Hood, E. B. Jennincs, G. O. Lathrop, C. K. Lincoln, E. A. Lincoln,* E. B. Lovell, F. J. McLane,
R. G. Riley, F. E. Westgate.
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Temporary expense account

....

Paid-up share dividend account

Cash

$19,505
2,861,250
69,050
3,100
3,340
148

88
00
00
00
00

32
924 39
10 00
40,679 74

Dues

capital
Profits capital

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Bills payable
Over and short account

Membership.

Shares.
.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

19,878
12,350
5
751
57,425
17,366

951
454

00
27
00
00
688 99

$2,169,731
368,958
190,200
90,800

45,071 34
54,506 95
27,746 32
280 82
50,000 00
24 64

$2,998,008 33

$2,998,008 33

Issued during year

1923.

Liabilities

Assets.

Added during year

.

72

P.D.

Part III.

8,
STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

Assets.

Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest

certificates

$1,292,900 00
37,000 00
3,350 00

974 70

Temporarj' expense account

2,188 71

Cash

16,'291

07

$1,352,704 48

Shaxes.
Issued during year

.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

1923.

P.D.

8,

Part III.

Issued during year

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

Shares in force
Shares now pledged

Paid-up shares represented by

Added during year
Withdrawn during year

3,141
2,062
115
10,509
3,906
289

.

Withdrawn during year
Matured during year
Matured shares represented by

73

Membership.

Shaxes.

certificates
certificates

Members
Borrowers

91
50
763
214

Profits Distributed.

14

Unm.^tured Shares.
First term,

2%%;

second term,

2^%.

Matured Share

Certificates.
First term, 2^2%; second term, 23^2%.

Paid-up Share Certificates.
Second term, 23^2%.
Proportion of profits retained on voluntary withdrawals, none.

Rates and Averag'es on Loans.
171 real estate loans (average, $3,649.41 each; average rate, 5.84%): 5}4%. $184,7.50; 6%, $439,300.
4S share loans (average, $445.35 each; average rate, 5.92%); 5}^%, $3,100; 6%, $10,050.
1 loan on matured share certificates: 6%, $150.

Total Expenses for Year.
Rent.
-

Salaries.

Amount

paid for

$2,2.50.00

.

.

FALL RIVER

— TROY

Incorporated July

Jerome C. Borden,

Advertising.

18, 1880.

Other Expenses.

$194.34

$616.03

.29

.94

3.42

Cost per $1,000 of assets

Total.

$3,060.37

CO-OPERATIVE BANK.
Began business July

20, 1880.

I^^dward

President.

W. Bertensh.vw,

Treasurer.

Board of Directors: F. B. Albro, James Ali.ardice,* E. W. Bertenshaw, J. C. Borden, T. D. Covel,*.
G. H. Eddy, J. H. French, George Grime, J. E. O'Connor, S. S. Read, C. C. Rounseville, Jr.,
E. N. Slade,* Jo.seph Turner,* W. R. Woodman.
•

.

Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
^onds and

notes

Loans on real estate
Loans en shares
Loans on matured share

Common

certificates

form mortgages
Unpaid interest
Unpaid fines
Temporary expense account

....

.....

Suspense account

Cash

.

$19,780
3,193,650
57,900
3,600
9,000
3,895

.50

00
00
00
00
93

420 74
634 66
63 49
20,450 32

Dues

$2,221,682 00
,391,7.30 75
338,000 00
110,600 00
360 65
78,596 83
65,732 60
68,212 67
15,386 40
181 67
28,912 07

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Matured share account
Guaranty fund
Surplus
Interest

Fines

Due on uncompleted

loans

$3,319,395 64

$3,319,395 64

.....
....

Membership.

Shares.
Issued during year
W/'ithdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now- pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

1923.

Liabilities

Assets,

9,903
21

Added during year
Withdrawn during year
Members

1,.326

Borrowers

16,811

56,650
18,314

Profits Distributed.

1,690

553

First term,

Unmatured Shares.
2^%; second term, 254%.

Matured and Paid-up
First term,

Sh.a.re

Committee.

Certificates.

2)^%; second term, 2J-2%-

Proportion of profits retained on voluntary withdrawals, none.
* Security

865
647
4,071
1,072

74

P.D.

8,

Part III.

Bates and Averages on Loans.
9S9 real estate loans (average, $3,437.72 each; average rate, 5.86%): 514%, S881,750; 6%, $2,311,900.
198 share loans (average, $292.42 each; average rate, 5.93%); 5}4%, $7,650; 6%, $50,250.
6 loans on matured share cerlificales: 5y2%, $1,800; 6%, $1,800.

Total Expenses for Year.
Salaries.

Amount

paid for

.

.

Cost per $1,000 of assets

$9,328.13
2.81

Rent.

$75r).00
.23

Advertising.

Other Expenses.

Total.

$108.16

$1,971.91

$12,158.20

.03

.59

3.66

FITCHBURG — FIDELITY CO-OPERATIVE BANK.
Incorporated April 25, 1888.

David H. Mehriam,

Began business

May

8,

1888.

W. G. Hayes,

President.

Treasurer.

Board of Directors: G. B. Bartlett, M. F. Dunn, F. H. Foss,* W. G. Hayes, H. O. Irving, W. C. .Johnson,
D. H. Merriam,* S. W. Miller, Osc.^r Monroe,* G. L. Parmenter, W. E. Putney,* A. L. Walker,
G. R. Wallace, Jr., D. I. Walsh, H. H. Wheelock.
Regular meetings for receipt of moneys the

last

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates

Real estate by foreclosure, etc.
Banking house
Temporary expense account
Insurance and taxes paid

....

Certificates of deposit

Cash

$2,992,830 00

1923.

P.D.

8,

75

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities

Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Banking house
Cash
.

.

.

.....

S4,506,962
86,366
4,270
2,580
30,000
63,849

Dues

00
00
00
00
00

.

Matured share
Paid-up

certificates
share certificates

Matured share account
Guaranty fund

11

00

$2,488,990
481,641
988,200
466,800
33,866
94,219
92,709
25,000
22,600

capital
Profits capital

.

Surplus
Bills payable

Due on uncompleted

loans

14

00
00
99
45
53

00
00

$4,694,027 11

$4,694,027 11

Membership.

Shares.
Issued during year

1923.

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged

Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

19,406
10,645
115
2,261
59,002
26,987
4,941
2,334

1,035

....
....
.

Borrowers

750

.

4,812
1,918

Profits Distributed.

Unmatured Shares.
1^%; second term, 1%'^,
iyg%; fourth term, 1%%.

third term,

First term,

Matured and Paid-up Share Certificates.
1M%; second term, V/i%; third term,
1M%: fourth term, 1M%-

First term,

Proportion of profits retained on voluntary withdrawals, none.

Bates and Averages on Loans.
1,791 real estate loans (average, S2,516.45 each; average rate, 6%): 6%, $4,506,962.
350 share loans (average, $246.76 each; average rate, 6%); 6%, $86,366.
8 loans on matured share certificates: 6%, $4,270.
6 loans on paid-up share certificates: 6%, $2,580.

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets
.

.

Advertising.

Salaries.

Rent.

$8,570.16
1.82

$1,000.00

$911.83

.21

.20

Other Expenses.

Total.

$13,931.65
2.97

$24,413.64
5.20

FOXBOROUGH — FOXBOROUGH CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: Walpole.)
Incorporated February 25, 1889.

Began business March

Frederick

F. A. Pettee, President.

Board of

Directors:

Newton,*

19, 1889.

S.

Lane, Treasurer.

H. E.
Forrest Bassett,* E. H. Bristol, B. P. Crocker,
H. Richards, H. G. Smith, * J. H. Smith,* H. M. Stowell,* Thomas
P. J. Haigis, F. S. Lane,

F. A. Pettee, F.

TiERNEY.*
Regular meetings for receipt of moneys the third Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Common form mortgages
Temporary expense account
Insurance and taxes paid
Cash

....

1923.

Liabilities

Assets.

$679,000 00
12,250 00
1,500 00
482 99
45 62
239 42

Dues

capital
Profits capital
.

Matured share account
Guaranty fund
Surplus
Interest

Fines

Withdrawal profits
Due on uncompleted loans

00
42
00
00
73
29
74

54
31

$693,518 03

$693,518 03

* Security

$522,492
116,861
15,545
13,418
14,138
5,864
142
118
4,937

Committee.

76
Shares.

P.D.

8,

77

Part III.
Total Expenses for Yeax.
Salaries.

Amount

paid for
Cost per $1,000 of assets

.

.

$8,457.96
2.44

Rent.

Advertising

Other Expenses.

Total.

$750.53

$595.55

$2,122.20

11,926.24

.22

17

.61

3.44

FRAMINGHAM — SOUTH MIDDLESEX CO-OPERATIVE BANK.
Incorporated November 19, 1920.

Edward W. Blodgett,

Began business January

13, 1921.

John M. M3erriam,

President.

Treasurer.

Carpenter,
Board of Directors: C. G. Bancroft, E. W. Blodgett, E. A. Bowers, R. J.
James Chalmers, G. R. Coolidge, H. E. Dix, A. S. Faewell, H. W. Fit?.patrick, E. H. Howard,
Slattery,
Prindiville,
P.
Shay,
J.
J.
J.
P. A. McGowan, W. E. Marchant, T. G. Portmore, J. J.
G. R. Stratton, W. E. Sullivan,* A. E. Svenson, Albert Tosi, W. H. Twiss, H. F. Twombly.*
Callahan,*

Regular meetings for receipt of moneys the third

Monday

of each

S. P.

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines
Permanent expense account
Temporary expense account
Cash
.

....

1923.

78

P.D.

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Temporary expense account
Loss on liberty bonds

....

Discount

Cash

$600 00
330.425 00
9,415 00
448 20
63 27
379 17
10,236 52

Dues capital
Profits capital

$255,061
42,981
4,995
6,785
6,273
137

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal
Bills

payable
loans

$341, .567 16

Matured during year

117
6,506
1,867

606

Shares in force
Shares now pledged

Added during year
Withdrawn during year
Members

88

125

.

....

Borrowers

Profits Distributed.

Unmatured Shakes.
First term,

3%; second term, 3%.

Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Rates and Averag^es on Loans.
S16 real estate loans (average, $1,483.45 each; average rate, 6%): 6%, $320,425.
30 share loans (average, $313.83 each; average rate, 6%): 6%, $9,415.

Total Expenses for Tear.
Salaries.
.

-23

Membership.
1,905

.

paid for

10

69
39

$341,567 16

Shares.
Issued during year
Withdrawn during year

Cost per $1,000 of assets

00

25
176 16
20,000 00
5,156 46

profits

Due on uncompleted

Amount

1923.

Liabilities

.

$1,000.00
2.93

Rent.

-

Advertising.

$10.80
.03

Other Expenses.

50
564
158

P.D.

8,

Part III.

....

2,715
1,713

.

"Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by

13

11,250
4,106

Added during year
Withdrawn during year
Members

.....
.....

Borrowers

Profits Distributed.

243

certificates

Unmatured Shares.
First term,

3%; second term, 3%.

Paid-up Share Certificates.
2J^%; second term, 2^4%.

First term,

Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Rates and Averages on Loans.
average rate, 6%): 6%, $634,850.
87 share loans (average, $373.06 each; average rate, 6%): 6%, $32,457.

^46

real estate loans (average, $2,580.69 each;

Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets
.

79

Membership.

Shares.
Issued during year

.

$1,801.31
2.65

Rent.

Advertising.

$142.96

$492.04

.21

.72

;her

Expenses.

189
147
1,113

333

P.D.

so

8,

Part III.

Total Expenses for Tear.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

$2,300.00
1.82

.

Other Expenses,

Advertising.

Total.

$621.32

$148.80

$714.87

$3,784.99

.49

.12

.56

2.99'

GLOUCESTER — GLOUCESTER CO-OPERATIVE BANK.
Incorporated

Maurice

March

2,

1887.

Began business April

14, 1887.

Everett Lane,

F. Foley, President.

Treasurer.

Board of Directors: M. F. Buckley, E. C. Carroll, J. W. Darcy, M. F. Foley,* J. A. Hawson, Edwari>
HoDGKiNS, Everett Lane, Frederick Lane,* F. W. Lothrop,* J. J. Lowrie, J. F. Macphee,*
D. O. Marshall, G. E. Merchant, A. E. Presson, F. A. Shackelford.*
Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Temporary expense account
Insurance and taxes paid
Security committee
Cash
.

.

1923.

Liabilities

$1,644,850
18,725
2,425
591

GO
00
00
08

397 63
4 00

.....

80,925 72

Dues

capital
Profits capital
.

Matured share
Paid-up share

certificates
certificates

Forfeited share account
Matured share account

.

.

Guaranty fund
Surplus
Interest

Premiums
Fines
Transfer fees
.

Due on uncompleted

loans

Personal accounts
Application for loan
.

Dividend on matured shares
,

cates

Dividendss on paid-ups hare
cates

$1,747,918 43

Membership

Shares.
Issued during year

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares novir pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

6,040
2,156
16
852
23,343
8,835

Added during year
Withdrawn during year
Members
.

Borrowers
Profits Distributed.

1,584

143

Unmatured Shares.
First term, 1J4%; second term, 1!^%; third term,

iy2%; fourth term, 13^%.

Matured Share Certificates.
l%%; second term, 1%%; third

First term,

l%%;

fourth term,

term»

\%%.

Paid-up Share Certificates.

1M%; second term,
fourth term, l]4%.

First term,

1M%;

1M%;

third term,

P.D.

8,

Part III.

81

GRAFTON — GRAFTON CO-OPERATIVE BANK.

(Other authorized locations for receipt of moneys: Worcester, 13-15 Federal

Began business November

Incorporated October 19, 1887.

Ellsworth E. Howe,

10, 1887.

Oliver M. Wing, Treasurer.

President.

Kathebine a. Dodge,

St.; Whitinsville.)

Assistant Treasurer

of Directors: R. E. Allen, F. A. Andeeson,* S. L. Davbnpobt,* G, A. Dearborn, E. J. Driscoll,
Earnshaw, W. O. Halpin, E. E. Howe, L. N. Leland, F. C. Martin, H. L. Reynolds, C L
Seabuey,* T. F. Smith, O. M. Wing.

Board

C. H.

Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets

,256,385 00

Loans on real estate
Loans on shares
Unpaid interest
Tellers shorts and overs
Cash

31,900
3,584
31
35,701

00
53

Dues capital
Profits capital
certificates

61

Forfeited share account

82

Guaranty fund

.

28,1.56 21

19,969 47
12,200 00

Due on uncompleted

loans
Dividends on matured share
cates

.....

certifi-

2,794 00

$1,327,602 96

Shares
Issued during year

.

5,305
1,473

.

,,

25
538

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates

00
44
00
84

$960,756
201,903
101,600
223

.

Matured share
Surplus

Withdrawn during year

1923.

Liabilities

.

$1,327,602 96

....

Membership.
Added during year
Withdrawn during year
Members

520

.....
.....

Borrowers

21,930
7,223

191
2,718

596

Profits Distributed.

508

Unmatobbd Shares.
First term,

3%; second term, 3%.

Matured Share

2%%;

First term,

Proportion of profits retained on voluntary withdrawals,

Certificates.
second term, 2%%-

50%

of last dividend.

Rates and Averag^es on Loans.
627 real estate loans (average, $2,384.03 each; average rate, &W7o): Q}4%, $1,256,385.
104 share loans (average, $306.73 each; average rate, 7%): 7%, $31,900.

Total Expenses for Tear.
Salaries.

Amount

paid for

.

.

Cost per $1,000 of assets

$2,699.94
2.03

Rent.

Advertising.

$500.00
.38

Other Expenses.

-

$1,230.04
.92

Total.

$4,429.98
3.33

GREAT BARRINGTON — HOUSATONIC CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: P. J. Kane's Store, Depot Street, Housatonic,
and office of Clerk of Central District Court, Great Barrington.)
Incorporated June

Elmer

12, 1889.

Began business July

C. Herbick, President.

1,

1889.

D. C. KiLLEEN, Treasurer.

Board of Directors: C. P. Comstock,* J. F. Gerard,* Charles Gillett, E. C. Heebick, P.
D. C. KiLLEEN, J. F. Mack, G. C. Nagee, R. N. Obton.
Regular meetings for receipt of moneys the

first

* Security Committee.

Monday

of each

month.

J.

Kane

*

P.D.

82

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
$232,800 00
3,295 00
342 38
40 60
2,994 08

Loans on real estate
Loans on shares
Unpaid interest
Unpaid premiums
Cash
.

Dues

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus

Due on uncompleted

loans

Membership.

Shares.
.

Withdrawn during year
Matured during year
Shares in force
Sliares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

887
522
49
3,705
1,345
82

56

$173,777
32,311
16,400
11,200
3,285

00
98
00
00
44

1,497 64
1,000 00

$239,472 06

$239,172 06

Issued during year

1923.

Liabilities

Assets.

P.D.

8,

Part III.

83
Membership.

Shaxes.
Issued during year

5,632

.

Withdrawn during year

2,67.5

Forfeited during year

Matured during year

•

Shares in force
Shares now pledged
Matured shares represented by certifioates
Paid-up shares represented by certificates

34
291
17,070
6,081

982
28

P.D.

84

8,

Part III.

Rates and Averages on Loans.
215 real estate loans (average, $2,073.95 each; average rate, 6%): 6%, $445,900.
16 share loans (average, $450.93 each; average rate, 6%) 6%, $7,215.
2 loans on matured share certificates: 6%, $700.
:

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets

.

.

Salaries.

Rent.

$1,320.00

$192.00

$4.00

$252.13

.87

.42

.01

.54

Other Expenses.

Advertising.

Total.

$1,768.13
3.84

HAVERHILL — CITIZENS' CO-OPERATIVE BANK.
Incorporated August 22, 1887.

WiLLi.\M

W.

Began business September

12, 1887.

Daniel C. Hunt,

Spaulding, President.

Treasurer.

Board of Directors: H. M. Goodwin, D. C. Hunt,* N. C. Johnson, H. E. Lewis,* F. D. McGregoe,
C. A. PiNGREE,* W. W. Spaulding.
Regular meetings for receipt of moneys the second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash
.

.

_

.

$1,411,945 00
60,451 00

500
770
436
202

00
70
99
78

43,460 61

Dues

capital
Profits capital
.

Matured share

certificates

Forfeited share account

Guaranty fund
Interest

Withdrawal
Bills

Due

profits

payable
on uncompleted loans

$1,517,767 08

Shares in force
Shares now pledged
Matured shares represented by certificates

4,559
2,594

569
22,977
9,102
657

43 68
37
98

02

36
25

68 09
25,000 00
11,813 61
$1,517,767 08

Membership.

Shares.
.

Withdrawn during year
Matured during year

$1,081,923 00
216,293 72
131,400 00
21,299
22,761
7,034
127
2

Surplus
Fines
Transfer fees

Issued during year

1923.

Liabilities

P.D.

8,

85

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines

Liabilities.

00
92,325 00

Dues

17,368 29

Matured share

1,575,250

248 25
60,509 23

.

Cash

capital
Profits capital
.

certificates

Forfeited share account

Matured share account
Guaranty fund

.

.

Surplus
Bills payable

Due on uncompleted

loans

Matured share certificate dividend

Membership.

Shaxes.
.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates

9,090
4,257
157
1,252

38,339
15,395

728

$1,980,556 00
429,015 71
145,600 00

327 05
72
38
94
00
GO
97

8,262
54,579
42,369
50,000
32,100
2,889

$2,745,700 77

2,745,700 77

Issued during year

1923.

P.D.

86
Issued during year

Part III.

8,

.....
....
......
Membership.

Shares.

Added during year
Withdrawn during year

2,902
1,330
72

.

Withdrawn during year
Forfeited during year

Matured during year

Members
Borrowers

655

Shares in force
Shares now pledged
Matured shares represented by certificates

14,338
5,728

253
196
1,383

436

Profits Distributed.

Unmatured Shares.
1^%;

1%%; second term,
fourth term, 15^%.

First term,

1%%;

Matured Share

third term,

Certificates.

1J4%; second term, 1}4%'< third term,
fourth term, l}47o-

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old;
from 5 to 10 years old; 5% after 10 years.

10% on series

Bates and Averages on Loans.
411 real estate loans (average, $2,404.01 each; average rate, 5.96%): o}4%, $51,600; 6%, $936,450.
231 share loans (average, $121.72 each; average rate, 6%): 6%,, $26,900.

Total Expenses for Year.
Rent.

Advertising.

$450.00

$59.00

.43

.06

Salaries.

Amount paid
Cost

for
per $1,000 of assets

.

.

$3,565.00
3.44

Other Expenses.

Total.

5,241.79

$1,167.79
1.13

5.06

HOLBROOK — HOLBROOK CO-OPERATIVE BANK.
Incorporated June

Arthur W. Paine,

Began business June

9, 1888.

11, 1888.

Frederic W. Blanchard, Treasurer.

President.

Board of Directors: A. C. Belcher, Leonard Belcher, F. W. Blanchard, F. B. Brooks, F. B. Diman,*
L. E. Flye, F. a. Gardner,* W. F. Gleason, John King, A. W. Paine,* Howard Platts, G. W.
Porter, J. W. Porter, E. S. Rogers, A. T. Southworth, G. E. White, G. T. Wilde, W. B. Wilde.
Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Loans on matured share

certificates

Common

form mortgages
Real estate by foreclosure,

etc.

....

$520,025
19,900
800
3,998
2,078

Unpaid interest
Unpaid fines
Temporary expense account
Cash

.....

00
00
00
50
92

Dues capital
Profits capital
.

.

Matured share

certificates
share certificates

Paid-up

Guaranty fund
Interest

781 57
3,964 56

Fines
Transfer fees
profits

payable

Due on uncompleted

loans

Membership.
1,307

646
5

252
6,854
2,773
359
14

6,824 40

$564,098 20

$654,098 20

Shares.

00
49
00
00
49

404 62
2 50
643 49
5,000 00

.

Withdrawal

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

$356,906
74,725
71,800
2,800
11,780
10,108

13
13,103 08

Surplus

2,251 13
298 52

Bills

.

1923,

Liabilities

Assets.

P.D.

8,

87

Part III.
Total Expenses for Tear.

Amount paid
Cost

for
per $1,000 of assets
.

Other Expenses.

Salaries.

Rent.

$900.00
1.62

$120.00

$482.01

.22

.87

Advertising.

Total.

$1,502.01
2.71

HOLYOKE — CITY CO-OPERATIVE BANK.
Incorporated July

Daniel Phoulx,

16, 1889.

Began business July

23, 1889.

Pierre Bonvouloir, Treasurer.

President.
S. J.

BoNvouLOiR, Assistant Treasurer.

Directors: Samuel Bail, W. G. Beaudro, L. T. Beaulieu,* Louis Bibeau, Pierre BonvouJ. Bonvouloir, J. E. Brindamour, T. J. Carmody, C. E. Ducharme, O. E. Genest, Arthur
Hebert, L. a. Lafrance, O. O. Lamontagne, A. F. Larose, Joseph Lussier, G. W. Messier,
Daniel Phoulx,* Homer Stebbins.

Board of

loir,* S.

Regular meetings for receipt of moneys the last Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
Temporary expense account
Cash
.

.

.

....

.....

$880,280 00

1923.

P.D.

?

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds
Loans
Loans
Loans

and notes

$12,000 00

on real estate
on shares
on matured share certificates
Common form mortgages
Permanent expense account
Insurance and taxes paid

Cash

.

1,234,950 00
28,100 00

250 00
8,200 00
3,968 71

Dues

.

Matured share

certificates

Forfeited share account

.

Guaranty fund
Surplus

54

82

$1,304,570 36

$1,304,570 36

Membership

Shares.
Issued during year

00
30
00
70

$890,189
177,212
164,600
555
35,577
36,435

capital
Profits capital

38 00
17,063 65

.

.

.

1923.

Liabilities

5,188
2,033
25

.

"Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged

583

Added during year
Withdrawn during year
Members

335
207

.

1,701

457

Borrowers

19,.349

Profits Distributed.

6,892

Matured shares represented by

823

certificates

Unmatured Shares and Matured Share CertifiFirst term,

Proportion of profits retained on voluntary withdrawals,

2^%;

25% on series

cates.
second term,

2M%-

not over 5 years old;

10%

thereafter.

Bates and Averages on Loans.
average rate, 5.89%); 5^%, $250,850; 6%, $984,100.
55 share loans (average, $510.90 each; average rate, 5.96%): 5^%, $1,900; 6%, $26,200.
2 loans on matured share certificates: 6%, $250.

Jfi& real estate loans (average, $3,072.01 each;

Total Expenses for Year.

Amount paid

for

Cost per $1,000 of assets

Salaries.

Rent.

$4,400.96
3.37

$1,025.46

Advertising.

Other Expenses.

Total.

$503.17

$5,957.79
4.57

128 20
.02
.

.79

.39

HUDSON — HUDSON CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: John C. King, Fowler Block, Maynard.)
Incorporated October 22, 1885.

Ellsworth

S.

Began business November

19, 1885.

Frank E. Brown,

Locke, President.

Mabel M. Wood,

Treasurer.

Assistant Treasurer.

Board of Directors: G. F. Allen, F. E. Brown,* A. L. Fletcher,* G. A. Fuller, N. M. Hunter, R. F.
Kerrigan, R. S. Lamson,* E. S. Locke, F. E. Morris, C. A. Packard, E. J. Prescott,* C. H. Robinson, F. H. Robinson, S. M. Robinson,* J. N. Tower, C. B. Wheeler, C. M. Witt, M. M. Wood,
A. E. Woodbury.
Regular meetings for receipt of moneys the third Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Bonds and notes
Loans on real estate
Loans on shares

$500 00
1,443,200 00
.

Real estate by foreclosure,

.

etc.

LTnpaid interest
Insurance and taxes paid

Cash

.

.

.

.

1923.

Liabilities.

Assets.

.

48,800
4,646
2,707
19
21,096

Dues

capital
Profits capital

Matured share

00
39

Paid-up

....
....

certificates
share certificates

14

Forfeited share account

31

Guaranty fund

08

Surplus

Due on uncompleted

.

loans

Dividends on matured share
cates

.

.

.

Dividends on paid-up share
cates

.

.

.

.

.

.

.

$1,051,867
228,913
131,800
45,000

GO
37
00
00

526 10
29,646 43
16,051 04
13,145 00

certifi-

...

2,894 98

certifi-

1,125 00

$1,520,968 92

$1,520,968 92

* Security

.

Committee.

P.D.

8,

89

Part III.
Membership.

Shaxes.
Issued during year

.

"Withdrawn during year
Forfeited during year
Matured during year
Shares in force
iShares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

3,874
1,686

36
507
19,572
8,719

659
225

P.D.

90

8,

Part III.

Total Expenses for Tear.
Salaries.

Amount

$716.64
2.23

paid for
Cost per $1,000 of assets
.

Rent.

Advertising.

Other Expenses.

$186.00

$22.50

.58

.07

$468.20
1.45

Total.

$1,393.34
4.33

LAWRENCE — ATLANTIC CO-OPERATIVE BANK.
Incorporated March 26, 1891.

Feank W. McLanathan,

Began business April

30, 1891.

Benjamin R. Bradley,

President.

Treasurer.

Board oj Directors: R. V. Baketel, F. E. Batcheller, J. H. Bevington, R. W. Bevington,* O. W.
BooTHBY, B. R. Bradley, Thomas Clark,* B. E. Crowell, W. D. Currier, A. C. Gaunt, C. H.
KiTCHiN, W. M. Lamont, F. W. McLanathan, W. A. Pedler, S. E. Rollins,* C. H. Rooks,* F. A.
Sherman, D. K. Webster, Jr.
Regular meetings for receipt of moneys the last Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF TH? OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense account
Cash

....

Liabilities.

$563,700
27,490
76
13,532

00
00
00
34

$604,798 34

1923.

P.D.

8,

91

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities .

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Permanent expense account
Cash

$8,650
1,377,500
32,625
2,300
777
30
92,955

.....

Personal accounts

.

00
00
00
00

Dues

.

Matured share

certificates
share certificates

Paid-up

79

Forfeited share account

00

Guaranty fund

24

$1,048,628 00
213,580 23
88,000 00

capital
Profits capital

8
28,448
18,745
25,000

Surplus

Due on uncompleted

loans
Dividends on matured share
cates

.

.

cates

certifi-

$1,514,838 03

Membership

Shares.

6,540
3,757

Withdrawn during year
Matured during year
Shares in force
Shares now pledged

1,127 50

.

.

$1,514,838 03

....
....

1,100 00

.

.

.

65
65

00

certifi-

.

.

.

00
00

90., 200

.

Dividends on paid-up share

Issued during year

1923.

430
23,674
8,703

Matured shares represented by certificates
Paid-up shares represented by certificates

440
451

Added during year
Withdrawn during year

422
347

.

Members

1,986

537

Borrowers
Profits Distributed.

Unmatured Shares.
1H%; second term, 1?^%; third term,
l'W6%; fourth term, !%«%.

First term,

Matured and Paid-up Share

Certificates.

First term, l}i%; second term, 1}4%'< third term,

fourth term,

1H%;
Proportion of profits retained on voluntary withdrawals,

25%

first

1^%-

5 years; after 5 years, none.

Bates and Averages on Loans.
430 real

$3,203.48 each; average rate, 6.26%): 5%, $70,250; 6%, $458,250;

estate loans (average,

6^%,

$849,000.

154 share loans (average, $211.85 each; average rate, 6.44%):
S loans on matured share certificates: 6M%, $2,300.

6^%,

6%,, $4,050;

$28,575.

Total Expenses for Year.

Amount paid

for

Cost per $1,000 of assets

Other Expenses.

Total.

Salaries.

Rent.

$5,318.65
3.51

$1,080.12

$242 78

$1,476.16

58,117.71

.71

.16

.98

5.36

Advertising.
.

LAWRENCE — MERRIMACK CO-OPERATIVE BANK.
264
Incorporated April

John

J.

Hurley,

2,

ESSEX STREET.
1892.

Began business April

28, 1892.

Cornelius A. McCarthy, Treasurer.

President.

Board of Directors: A. J. Batal, F. W. Boody, J. A. Brogan, T. J. Buckley, L. E. Garneau, F. C. Harmon, J. A. Hurley,* J. J. Hurley, J. A. Levek, C. A. McCarthy, J. A. McDowell, J. P. MulHOLLAND, J. F. O'CONNELL, J. J. PeTROSKE,* FrANK QuINN,* A. H. ROGERS, M. A. SuLLIVAN,
M. J. Sullivan, Simeon Viger, Fergus Waters, B. L. Weeks.
Regular meetings for receipt of moneys the

first

Friday of each month.

•

STATEMENT OF CONDITION AT THE CLOSE OP THE OCTOBER BUSINESS,
Liabilities

Assets.

Loans on real estate
Loans on shares
Loans on paid-up share
Unpaid interest
Unpaid fines
Cash
.

.

_

.

certificates

....
.....

,585,900 00
81,625 00

175 00
1,960 28
458 01
38,797 77

Dues

capital
Profits capital
.

.

.

Matured share
Paid-up share

certificates
certificates

Forfeited share account

.

Guaranty fund
Surplus
Bills payable

Due on uncompleted loans
Dividends on matured share
cates

Dividends on paid-up share
cates

$1,708,916 06

1923.

92

P.D.

8,

Part III.

.....
....

Membership.

Shares.
Issued during year
"Withdrawn during year
Forfeited during year
Matured during year

Added during year
Withdrawn during year
Members

8,650
4,647
191
163
28,018
10,464

.

Shares in force
Shares now pledged
ISIatured shares represented by certificates
Paid-up shares represented by certificates

Borrowers

.

.

.

.

578
368
2,422

.619

.

Profits Distributed.

330
215

Unmatured Shares.
1%%; second term, 1%%; third term
1?^%; fourth term, 1^%.

First term,

Matched and Paid-up Share

Certificates.

First term, l}4%', second term, 1}4%', third term,

1M%;

fourth term,lM%.

20% on series
from 4 to 8 years; after 8 years, none.

Proportion of profits retained on voluntary withdrawals,

less

than 4 years; 10% on

series

Rates and Averages on Loans.
433

real estate loans (average,

5K%,

,662.58 each; average rate, 5.98%): 5%, $21,900;

$9,800;

6%,

$1,554,200.

$268 50 each; average rate, 6%)
loan on paid-up share certificates: 6%, $175.

50.4 sAore Zoa?is (average,
1

.

6%, $81,625

:

Total Expenses for Year.
Salaries.

Amount paid

for

$5,100.00

.

Coat per $1,000 of

Rent.

Advertising.

Other Expenses.

$1,500.00

$1,471.54
86

$1,300.21

J9,371.75

.76

5.48

2.98

assets

Total.

LEOMINSTER — LEOMINSTER CO-OPERATIVE BANK.
Incorporated

Alfred N. Litch,

May

8,

Began business

1888.

May

IS, 1888.

President.

J.

Ward Hbaley,

Treasurer.

Board of Directors: R. B. Andrews, C. E. Bigelow,* L. W. Browning, H. R. Davis, F. S. Farnsworth,
J. W. Healey, W. E. Holman, T. C. Howe, A. N. Litch, F. H. Robertson,* F. W. Tenney, F. A.
Whitney.*
Regular meetings for receipt of moneys the third Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Xoans on shares
Loans on matured share
Unpaid interest

Cash

certificates

.....

$1,440,050
40,075
1,450
2,260
35,259

00
00
00
53
81

Dues

capital
Profits capital

Matured share
Paid-up

....
....

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus

.

Due on uncompleted

.

.

.

.

.

.

.

.

.

.

loans

Dividends on matured share
cates

.

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

5,601
2,786

41
518
19,724
8,460

740
712

.

1,850 00
1,780 00

Membership.

Shares.

_

$1,519,095 34

$1,519,095 34

.

408
30,951
29,357
6,800

GO
96
00
00
68
39
31
00

certifi-

cates

Withdrawn during year

.

$949,539
208,008
148,000
142,400

certifi.

Dividends on paid-up share

Issued during year

1923.

Liabilities.

P.D.

8,

Part III.

93
Rates and Averages on Loans.

528 real estate loans (average, $2,727.36 each; average rate, 6%): 5%, $1,000;
85 share loans (average, $471.47 each; average rate, 6%): 6%, $40,075.
3 loans on matured share certificates: 6%, $1,450.

1,439,050.

6"^

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

Salaries.

Rent.

Advertising.

$3,572.00
2.35

$264.73

$210..57
.14

.17

Other Expenses.

Total.

$797.08

j4,844.38

.52

3.18

LEOMINSTER — MUTUAL CO-OPERATIVE BANK.
Incorporated November

Fred M. Johnson,

President.

19, 1919.

Began business December

17, 1919.

Arthur

L.

Wass, Treasurer.

of Directors: H. C. Bascom,* Arthur Beland,* L. H. Bourbeau, F. W. Boynton,* H. H. Chase,
F. H. Cook, C. T. Foster,* E. P. Hadley, A. E. H.^rper, W. N. Howe, L. A. Jalbert, F. M.
Johnson, Ralph Joslin, P. H. Killelea,* J. A. Lovering, R. C. Lubin, Peter McKenna, D. F.
Ouimet, F. T. Platt, R. A. Robillard, Augustus Rosse, J. D. Shea, Alexander Snow, E. R.
Stuart, A. L. Wass, R. V. Worthen.

Board

Regular meetings for receipts of moneys the third Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

1923.

94

P.D.

LEXINGTON — LEXINGTON CO-OPERATIVE BANK.

8,

Part III.

(Other authorized locations for receipt of moneys: American Trust Company, Boston; E.
Harrod, East Lexington; J. M. Chase, Bedford; R. D. Donaldson, Lincoln.)
Incorporated

Hallie C. Blake,

May

Began business July

10, 1916.

W.

12, 1916.

William E. Mulliken, Treasurer

President.

_

Board of Directors: "W. H. Ballard, A. I. Bicknell, H. C. Blake,* A. H. Burnham, J. M. Chase, F. D.
Cloyes, T. a. Custance,* F. P. Cutter, R. D. Donaldson, B. C. Earle, E. W. Harrod, D. B.
Lewis, H. A. Martin, G. C. McKay, W. E. Mulliken,* C. S. Ryan, J. W. Smith, C. H. SpauldING,* Matthew Stevenson, E. C. Stone, J. A. Wilson.
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OP THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Temporary expense account
Cash

$340,475 00
6,825 00
144 39
10,065 00

....

Dues

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

Guaranty fund
Surplus

Membership.
2,099

976
66
7,324
2,053
147

10,

00
45
07

104 60
13,712 92
10 00

$357,509 39

$357,509 39

Shares.

00

30 07

Fines

Withdrawal profits
Due on uncompleted loans
Security committee

Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates

$267,109
37,496
29,400
635
2,710
4,636

12
1,665 06

Interest

.

1923.

Liabilities.

Assets.

P.D. 8 Part

95

III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities

Assets.

Loans on real estate
Loans on shares
Loans on paid-up share
Cash

.

Dues capital
Profits capital

$110,300 00
2,275 00

.....
.

.

Paid-up

888 44

certificates
share certificates

Forfeited share account

.

Surplus
Bills payable

Due on uncompleted

44
00

15,254
5,000
9,200
2
1,595
1,936
3,000
1,800

Matured share

1,800 00

certificates

S77,475 00

.

Guaranty fund
loans

$115,263 44

00
00
83
17

00
00

$115,263 44

Membership

Shaxes.
Issued during year

1923.

Added during year
Withdrawn during year
Members

431
432

.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

43
41
187
64

.

10
1,619

Borrowers

674
25

Profits Distributed.

46

Unmatured Shares.

1H%; second term, 1}4%; third term,
fourth term, 1^%.

First term,

1K%;

Matured and Paid-up Share Certificates.
First term, 1M%; second term, 1M%; third term,
1M%; fourth term, 1M%.
Proportion of profits retained on voluntary withdrawals,

25% on series less than 4

years old;

10% thereafter.

Bates and Averages on Loans.
55reoZesta<eioans (average, $1,869 .49 each; average rate, 5.99%) 5%, $15,800; 5J^%, $4,400; 6%, $67,850,
6M%, $9,800; 7%, $12,450.
8 share loans (average, $284.37 each; average rate, 6.22%): 6%, $1,350; 7%, $925.
1 loan on paid-up share certificates: 6%, $1,800.
:

Total Expenses for Year.

Amount paid

for

.

Cost per $1,000 of assets

Salaries.

Rent.

Advertising.

Other Expenses.

$193.20
1.67

$150.00
1.30

$50.26

$147.43
1.27

.43

Total.

$540 89
4.67
.

LOWELL — LOWELL CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: Saco-Lowell Shops, 350 Dutton Street,
Lowell.)

Began business

Incorporated April 29, 1885.

May

14, 1885.

Charles C. Drew,

Francis E. Appleton, President.

Norman N. Armour,

Treasurer.

Assistant Treasurer.

Board of Directors: S. W. Abbott,* F. E. Appleton, Arthur Bartlett, H. L. Bishop.'F. E. Bramhall,
B. W. Clements, Adam Cochrane, W. H. Dorr, C. C. Drew, O. H. P. Green, F. B. Kenney, John
Kerr, W. F. Sanborn,* A. A. Stewart, G. H. Taylor.*
Regular meetings for receipt of moneys the

first

Friday after the tenth of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
Permanent expense account

....

Cash

.....

1923.

Liabilities.

00
00
00
00
33
772 36
59 02
34,428 86

$3,625,850
79,855
3,800
2,400
6,608

Dues

capital
Profits capital

Matured share
Paid-up

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

certificates
share certificates

.

.

.

.

.

.

Forfeited share account

Guaranty fund
Surplus
payable

Bills

Due on uncompleted

loans

Dividends on matured share
cates

$3,753,773 57

* Security

00
67

00
00
04
42
94
00
00

certifi-

4,393 50

cates

Dividends on paid-up share

$2,297,868
478,154
351,400
370,400
69
48,649
27,354
130,000
40,855

certifi-

4,630 00
$3,753,773 57

Committee.

96

P.D.

8,

Part III.

Membership.

Shaxes.
Issued during year

14,701
6,530

.

Withdrawn during year
Forfeited during year

1,163

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

941
5,19a

Borrowers

1,552

1,271

.

86

Matured during year

Added during year
Withdrawn during year
Members

50,364
21,250

Profits Distributed.

1,757
1,852

Unmatured Shares.
1%%;
1^%.

First term, 15^%; second term,

third term^

fourth term,

1H%;

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
l}4%; fourth term, 1M%.

First term,

Proportion of profits retained on voluntary withdrawals,
years,

25% on

series less

than 4 years old; after 4

10%.

Rates and Averages on Loans.
1,SS7 real estate loans (average, $2,711.92 each; average rate, 5.82%): 5%, $649,850; 53^%, $55,750; 6%,
$2,854,850; 6}4%, $65,400.
S15 share loans (average, $371.41 each; average rate, 6.04%): 5%, $2,980; 5J^%, $770; 6%, $61,800:
63^%, $14,305.
5 loans on matured share certificates: 6%, $3,800.
4 loans on paid-up share certificates: 6%, $2,4O0.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets

$7,799.90
2.08

.

Advertising.

Other Expenses.

Total.

$4,967.02
1.32

$15,584.44
4.15

$1,239.39 $1,578.13
.42

.33

LOWELL — MIDDLESEX CO-OPERATIVE BANK.
Incorporated November

William M. Sherwell,

2,

1892.

Began business November

3,

1892.

William D. Brown,

President.

Treasurer.

Board of Directors: W. D. Brown, M. J. Burns, H. W. Coburn, C. W. Dana, Arthur Genest, E. J.
GiLMORE, S. C. GuLLINE, N. D. IVEABLES,* W. R. KiLLPATRICK,* F. S. KiNGSBURY, S. G. PiLLSBURY,
W. M. Sherwell.*
Regular meetings for receipt of moneys the last Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets

Loans on real estate
Loans on shares
Unpaid interest
Permanent expense account

Cash

,594,500 00

26,520 00
2,659 51
1,643 97

....

Personal accounts

223 11
14,331 52

.

Dues capital
Profits capital
Matured share
Paid-up

....
...
....

certificates
share certificates

.

.

.

.

.

.

Forfeited share account

Guaranty fund

Surplus
Due on uncompleted loans
Dividends on matured share

Shares
4,472
2,525
614
21,623
8,989

Shares in force
Shares now pledged

Matured shares represented by certificates
Paid-up shares represented by certificates

528
830

6,188 67
8,500 00
1,295 00

2,107 50

$1,639,878 11

.

00

47
00
00
2 00
21,571 47

certifi-

cates

Withdrawn during year
Matured during year

$1,097,038
230,975
105,600
166,600

certifi-

cates

Dividends on paid-up share

Issued during year

1923.

Liabilities.

$1,639,878 11

Membership.
Added during year
Withdrawn during year
Members

....
....
.

Borrowers

340
206
2,382

593

Profits Distributed.

Unmatured Shares.
1%%; second term, l%%; third term,
1?^%; fourth term, 1%%.

First term,

Matured and Paid-up Share Certificates.
1M%; second term, lJi%; third term,
13^%; fourth term, 1H%-

First term,

Proportion of profits retained on voluntary withdrawals,

25% on

years, 10%.
* Security

Committee.

series less

than 4 years old; after 4

P.D.

8,

97

Part III.
Rates and Averages on Loans.

635

5^%,

real estate loans (average, $2,980.37 each; average rate, 5.79%): .5%, $328,650;

$1,204,600; QVo%, $30,800.
as share loans (average, $457.24 each; average

6M%,

5%,

rate, 5.99%):

$1,350; 5J^%, $360;

$30,450; 6%,

6%,

.$22,410;

$2,400.

Total Expenses for Year.
paid for
Cost per $1,000 of assets

$4,096.12
2.50

.

.

Other Expenses.

Advertising.

Rent.

Sahiries.

Amount

$190.73

.$918.75
.56

$1,722.61
1.05

.12

Total.

.$6,934.21

4.23

LYNN — EQUITABLE CO-OPERATIVE BANK.
Incorporated October

Frederick W. Hixon,

2,

1877.

Began business October

1877.

8,

Edwin

President.

C. Lewis, Treasurer.

Jessie T. Seeton, Assistayit Treasurer.
3. E. Blanchard, T. B. Curtis, A. J. Higgins, F. W. Hixo.n-, H. W. Howard,* Charles
Leigiiton, E. C. Lewis,* C. L. Long,* F. L. Perkins,* J. C. F. Phinney, F. J. Richards, J. T. Seeton,
Seymour, A. B. Tolman, F. A. Turnbull, J. W. Whyte.

Board of Directors:
Z. L.

Regular meetings for receipt of moneys the

first

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
L^npaid interest
Permanent expense account
Temporary expense account
Insurance and taxes paid

Cash

1923.

Liabilities

$220,000 00
7,506,250 00
203,280 00

600 00
00
27
60
60
401 11
149,743 95
5,040
12,533
10,478
1,065

Dues

capital
Profits capital
.

Matured share
Paid-up share

certificates
certificates

Forfeited share account
Matured share account

.

.

Guaranty fund
Surplus
Interest

....

Fines
Transfer fees
Due on uncompleted loans
Personal accounts
.

Discount
Insurance
$8,109,392 53

.....
....
Shares

Issued during year

Membership

.

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

Withdrawn during year
Forfeited during year

Matured during year

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

.

.

34,200
20,851
203
3,232
121,862
46,472
2,722
3,244

.A.dded during year

Withdrawn during year
Members
Borrowers
Profits Distributed.
First term,

Unmatured Shares.
2^4%; second term, 2?4%.

Matured and Paid-up Share
First term,

Certificates.
2^2%; second term, 23-2%-

98

LYNN — LINCOLN CO-OPERATIVE BANK.

P.D.

Part III.

8,

(Other authorized location for receipt of moneys: 325 Union Street, Lynn.)
Incorporated April

7,

Jesse M. Holder, President.

1909.

Began business April

26, 1909.

Edward M. Barney,

,

Treasurer.

Board of Directors: E. H. Ballard, E. M. Barney,* L. L. Barney, James Bennett, W. A. Bishop, E. E.
BoYER, E. P. BnTTERFiELD,*T. J. DuMAS, G. B. Grant, J. M. Holder,* E. J. Kenneally, W. M. Nye,
A. E. Quick, H. R. Stanbon, G. T. Till,* H. T. Turner,* C. G. Woodbridge.
Regular meetings for receipt of moneys the last

Monday

month.

of each

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Bonds and notes
Loans on real estate
Temporary expense account
Gash

....

1923.

Liabilities

Assets.

Dues capital
Profits capital

$14,830 25
429,100 00
165 09
15,134 28

$254,040
43,434
98,400
44,800
3,083
3,126
2,670
98
9
9,565

.

Matured share

certificates
share certificates

Paid-up

Guaranty fund

11

31
53
24
66
40
2 00

Surplus
Interest

Fines

00
37
00
00

.

Withdrawal profits
Due on uncompleted loans
Security committee

$459,229 62

$459,229 62

Membership.

Shares,
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
]P aid-up shares represented by certificates
.

Added during year
Withdrawn during year
Members

2,619
1,224

205

....
.

341

Borrowers

6,675
2,229

.

.

.

145
524
154

.

Profits Distributed.

492
224

Unmatured Shares and Matured and Paid-up
Share Certificates.

1M%; second term,
fourth term, 1M%-

First term,

1M%;

1M%;

third term,

Proportion of profits retained on voluntary withdrawals, January and July dividends if shares are withdrawn after these dividends are declared and before the April and October bank days; otherwise,
none.

Rates and Averages on Loans.
ISi real

estate loans (average,

$2,786.36 each;

average rate, 5.97%):

5H%,

$63,950; 6%, $345,100; 7%,

$20,050.

Total Expenses for Year.

Amount paid
Cost

for
per $1,000 of assets

.

.

Salaries.

Rent.

$1,187.05
2.58

$567.00
1.24

Advertising.

Other Expenses.

$265.65

$983.13
2.14

.58

Total.

$3,002.83
6.54

LYNN — LYNN CO-OPERATIVE BANK.
Incorporated November

Frank

18, 1891.

Began business November

23, 1891.

Charles B. Bethune,

E. Wells, President.

Treasurer.

Board of Directors: W. P. Babb, C. B. Bethune,* R. S. Campbell,* David Johnson, I. W. Perkins,
G. E. Powers, F. C. Reed,* Frank Strickland, J. H. Sutherland, F. A. Trafton, E. E. Wells,
F. E.

Wells.
Regular meetings for receipt of moneys the
* Security

first

Monday

Committee.

of each

month.

P.D.

8,

99

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Cash
.

.

.

.....

$10,000
2,163,700
47,495
2,300
1,420
5,729
25,316

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

Dues

00
00
00
00
00
08
26

capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus

Due on uncompleted

.

loans

Personal accounts
Dividends on matured share
cates

.

.

.

.

.

.

.

.

.

00
96
00
00
350 41

$1,297,354
247,170
367,800
216,000

29,950 16
20,558 12
62,517 66
45 00

certifi-

.

.

.

Dividends on paid-up share

8,814 03

.

_

certifi-

5,400 00

cates

$2,255,960 34

$2,255,960 34

.....
....

Membership.

Shares.
Issued during year

Forfeited during year

12,451
5,948
14

Matured during year
Shares in force
Shares now pledged

31,934
13,258

.

Withdrawn during year

Added during year
Withdrawn during year
Members
Borrowers

992

Matured shares represented by
Paid-up shares represented by

1923.

'

.

.

.

.

926

.

Profits Distributed.

1,839
1,080

certificates
certificates

.

781

442
2,469

Unmatured Shares.
First term,

2^i%; second term,

2^%-

Matured and Paid-up Share
First term,

2M%;

Certificates.
second term, 2>^%.

Proportion of profits retained on voluntary withdrawals, none.

Bates and Averages on Loans.
average rate, 6%): 5M%, $349,725; 6%, $1,6.39,325; 7%,
$174,650.
iS5 s/iareZoons (average, $349.22 each; average rate, 6.10%): 5H%. S2,425; 6%, $36,815; 7%, $8,255.
8 share loans on matured share certificates: 6%, $2,300.
4 loans on paid-up share certificates: 6%, $1,420.

810

real estate loans (average, $2,671.23 each;

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

Salaries.

Rent.

$6,897.15
3.05

$1,349.02

$457.78

.60

.20

Advertising.

Other Expenses.

$3,107.42
1 38
.

Total.

$11,811.37
5 23
.

MALDEN — FELLSWAY CO-OPERATIVE BANK.
Incorporated April

Francis

J.

Welsh,

7,

1915.

Began business June

7, 1915.

Daniel

President.

F.

McBride,

Treasurer.

Board of Directors: A. H. Benoit, N. E. Boyle, H. A. Buckley,* E. E. Burns, J. J. Bushell, P. F. J.
Carney, W. E. Cunningham, F. C. Doucette, W. J. Driscoll, E. W. Fitzgerald, J. J. Fitzgerald,*
F. A. Hannan, a. J. Harty, H. W. Hibbett, A. S. Kenney, J. V. Kimball, D. F. McBride, G. A.
McCoRMACK, C. A. McKeever, p. J. McShane, Albert Osterland, J. A. Pagum, D. P. Ros8ITER, A. G. Ryan, F. J. Welsh, S. F. Welsh.*
Regular meetings for receipt of moneys the

first

Monday

of each

month and Saturday evening previous

thereto.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Cash

....

1923.

100
Shares.

P.D.

8,

101

Part III.
Rates and Averages on Loans.

1,072 real estate loans (average, 82,164.92 each; average rate, 5.99%): 5%, $188,140; 5H7o, S494,000;
5J^%, $96,075; 5H%, $11,700; 6%, $419,675; 6H%, $550; 6^%, $1,066,600; 6H%, $600; 7%,
$43,450.
S29 share loans (average, $194 each; average rate, 6.34%): 5%, $120; 5M%- $3,980; 5M%, $430; 6%,
$8,995; 6M%, S50; 63^%, $50,250.

Total Expenses for Year.
Salaries.

Amount

paid for
Cost per $1,000 of assets

.

.

$6,409.51
2.61

Rent.

Advertising,

$1,571.89

$662.84

.64

27

Other Expenses.

$4,376.34
1.79

Total.

$13,020.58
5.31

MANSFIELD — MANSFIELD CO-OPERATIVE BANK.
Incorporated

Daniel C. Richardson,

March

10, 1883.

Began business March

21, 1883.

Herbert

President.

E. King, Treasurer.

Board of Directors: H. W. Buttehwohth, O. P. Cook,* C. N. Crane,* T. J. Fox,* J. R. Hodges, H. E.
King, Austin Mason, William Ollipf, J. W. Rathburn, D. C. Richardson, K. C. Sherman, A. E.
Shields, H. W. Snyder, John Somers, W. L. Winter.
Regular meetings for receipt of moneys the third Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest
Unpaid premiums
Unpaid fines
Cash

certificates

....
.....
.

$8,100
964,100
32,870
500
3,536
74
210
23,073

00
00
00
00
05
92
35
02

Dues capital
Profits capital

Matured share
Paid-up

Guaranty fund
Surplus

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

certificates
share certificates

Due on uncompleted loans
Personal accounts
Dividends on matured share

.

.

.

.

.

1,650 00

$1,032,464 34

Membership.
3,011
1,374
13
15

433
13,292
5,776

803
330

65
00
22

3,915 00

$1,032,464 34

Shares.

00
98
00
00
49

certifi-

cates

Issued during year
Withdrawn during year
Forfeited during year
Retired during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

$635,660
139,519
160,600
66,000
13,961
4,024
7,000
133

certifi-

cates

Dividends on paid-up share

.

1923.

Liabilities.

Assets.

102

MARBLEHEAD
Incorporated

John Lanct,

P.D.

8,

MARBLEHEAD CO-OPERATIVE BANK.
May

5,

1886

Began business

May

6,

1886.

Henby

President.

Part III.

C. Millett, Treasurer.

Board of Directors: E. D. Chapman, H. A. Coffin, G. N. Dennis, R. B. Hamson, W. T. Harris,
Hooper, John Lancy,* J. L. Litchman, J. A. IMartin,* Frank Millett,* H. C. Millett,
Paine, E. W. Stone, A. L. Swasey, Richard Tutt.
Regular meetings for receipt of moneys the

first

Thursday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines
Insurance and taxes paid
Cash
.

.

.

.

.

Shares.
Issued during year

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged

$19,003 36

J.
J.

1923.

B.

D.

P.D.

8,

103

Part III.

....

Membership.

Shares.
Issued during year

5,705
2,206

.

Withdrawn during year
Matured during year

1,181

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented bj' certificates

19,528
8,801
1,896
85

Added during year
Withdrawn during year
Members

509
363

.....
.....

Borrowers

.

2,097

789

Profits Distributed.

Unmatured Shares.
2%%.

First term, 23-4%; second term,

Matured Share
First term,

2M%;

Certificates.
second term, 2%%.

Paid-up Share Certificates.
First term, 2}^%; second term, 2]4%.

Proportion of profits retained on voluntary withdrawals, 20% on series
years, the last six months' dividend.

than 5 years old;

less

after

5

Rates and Averages on Loans.
8S4

real estate loans (average, $1,795.21 each;

average rate, 5.87%): 5%, $33,700; 5J^%, $315,200; 6%,

$1,130,350.

S99 share loans (average, $102.34 each; average rate, 5.99%,): 5}i%, $710; 6%, $29,890.
15 loans on matured share certificates: 6%, $5,370.

Total Expenses for Year.
Salaries.

Amount paid

for

.

.

Cost per $1,000 of assets

$2,580.00
1.68

Total.

Rent.

Advertising.

Other Expenses.

$690.00

$375.00

$1,155.72

$4,800 72

.45

.24

.75

3.12

.

MEDFIELD — MEDFIELD CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: 25 South Street, Medfield; E. V. Mitchell
Factory, Medfield; Thome's Grain Store, Millis.)
Incorporated December 29, 1905.

Ellery C. Crocker,

Began business January

8,

1906.

Laprelette W. Wheeler,

President.

Treasurer.

Clark,
Board of Directors: W. F. Abell,* M. C. Adams,* J. L. Atherton, E. M. Bent, M. H. Blood,
L. K. CoNANT, E. C. Crocker, J. A. Fitts,* S. C. French, M. E. Griffin, G. P. Holbrook, t,. J.
Keyou, L. E. Mayo, J. W. Payson, E. F. Richardson, H. H. Thokne, L. W. Wheeler.
A. L.

Regular meetings for receipt of moneys the second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Banking house
Permanent expense account
Temporary expense account
Cash

.....

$640,900 00

1923.

P.D.

104

8,

Rates and Averages on Loans.
349 real estate ioans (average, $2,.57.3.90 each; averajre
47 share loans (average, S372.32 each; average rate,
2 loans on matured share certificates: 5%, $690.
.

rate,

67l)

6%): 6%, $640,900.
C%, $17,499.

Total Expenses for Year.
Salaries.

Amount

paid for

.

Cost per $1,000 of assets

.

Rent.

$1,551.62

$252.71

2.27

.38

Advertising.

Other Expenses.

Part III.

P.D.

8,

105

Part III.

MEDFORD

MEDFORD CO-OPERATIVE BANK.

<Other authorized locations for receipt of moneys: 161 Devonshire Street, Boston; Chamber of
Commerce, 486 High Street, West Medford, 79 Milk Street, Boston.)
Incorporated June 21, 1886.

Lewis H. Lovebing,

Began business July

7,

1886.

Elisha G. Pierce, Treasurer.

President.

of Directors: G. H. Archibald. H. L. Buss,* W. F. Gushing,* W. P. Hart,* William Leavens,
C. H. LooMis, F. W. LovERiNG, L. H. Lovering,* D. G. Melville, J. J. Mulkerin, E. G. Pierce,
J. F. Reagan,* A. E. Ritchie, L. H. Robbins, J. W. Rockwell, C. S. Taylor, A. W. Teel, J. R.

Board

Teel.
Regular meetings for receipt of moneys the

first

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Insurance and taxes paid
War savings stamps
Revenue stamps
Cash

.....

1923.

Liabilities.

$3,204,150 00
94,990 00
10,150 00
243 85
82 94
74 33
56,577 05

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

Dues capital
Profits capital

Matured share certificates
Paid-up share certificates
Forfeited share account
Matured share account

Guaranty fund
Surplus
Bills

payable

Due on uncompleted

.

loans

Dividends on matured share
cates

.

.

Dividends on paid-up share
cates

Suspense

.

.

.

.

.

.

.

$1,908,738
428,120
802,000
61,000
10
4,587

00
04
00

00
00
43

44,41375
35,174 62
30,000 00
39,462 97

certifi-

...

11,027 60

certifi-

762 50
971 36
$3,366,268 17

106

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...
...
...

Assets.

Bonds and notes
Loans on real estate
Loans on shares
Permanent expense account
Cash

....

$300 00
212,150 00
6,340 00
337 61
1,39S 53

Dues

capital
Profits capital

Paid-up share certificates
Guaranty fund
Surplus
Interest

Fines

.

Withdrawal
$220,526 14

Shares.

1923.

Liabilities

.

profits

.

•.

$182,293
24,669
9,000
1,493

00
46
00
35

1,834 85
1,198 18
12 80

24 50
$220,526 14

P.D.

8,

107

Part III.
Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

378

Added during year
Withdrawn during year
Members

4,645
2,551

....
....
.

11

Borrowers

537
17,345
6,217

231
1,719

441

Profits Distributed.

597
540

First term,

1%%;

Unmatured Shares.
l%%; second term, 1%%;

third term,

fourth term, 1?^%.

Matured and Paid-up Share Certificates.
1M%; second term, 1J^%; third term,
1H%; fourth term, 1}4%.

First term,

Proportion of profits retained on voluntary withdrawals, 25% on series less than 2 years old;
from 2 to 5 years old; after 5 years, none.

10% on

series

Rates and Averages on Loans.
381 real estate loans (average, $2,708.70 each; average rate, 5.91%): 5%, $1,990; 5H%, $171,725; 6%,
$858 300
es share loans (average, $303.58 each; average rate, 5.98%): 5K%, $530; 6%, $18,292.
1 loan on paid-up share certificates: 6%, $500.

Total Expenses for Year.
Salaries.

Amount

paid for

Cost per $1,000

.

.

of assets

$2,118.25
1.97

Advertising.

Other Expenses.

$504.69

$265.72

$862.84

.46

.24

.83

Rent.

Total.

$3,751.50
3.50

MERRIMAC — ECONOMY CO-OPERATIVE BANK.
Incorporated July 26, 1889.

Fred

S.

Hahdwick,

Began business August

12, 1889.

Clifton B. Heath, Treasurer.

President.

Board of Directors: G. H. Chamberlin, G. W. Davis,* F. S. Hardwick, C. B. Heath, Zenas Lovell,
C. W. MoRRELL,* G. S. Preble, A. W. Sawyer,* F. C. Williams, I. A. Williams.
Regular meetings for receipt

of

moneys the second Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Unpaid interest
Unpaid premiums
Unpaid fines
Temporary expense account
.
Cash
.

.

.

.

.

$121,850 00

1923.

P.D.

108

8,

Part III.

Total Expenses for Year.

Amount

paid for
Cost per Sl.OOO of assets
.

Salaries.

Rent.

$600.00
4.53

$100.00

Advertising.

.75

-

Other Expenses.

$215.65
1.63

Total.

$915.65
6.91

METHUEN — METHUEN CO-OPERATIVE BANK.
Incorporated April

James H. Lyons,

President.

4,

1923.

Began business April

13, 1923.

Fr.4.nk A.

Yosdon, Treasurer.

Board of Directors: H. E. Brown, H. A. Crigg, Thom.\s Dow,* J. D. Emerson, A. C. Gaunt, B. B. Gordon, F. A. Gordon, A. H. Gammons, B. E. Hill,* R. B. Kinney, J. H. Lord, J. H. Lyons, A. J.
Richardson, E. E. Richardson,* C. A. Stevens.
Regular meetings for receipt of moneys the last Saturday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Permanent expense account
Cash

.....

Shares.
Issued during year
Withdrawn during year
Shares in force
Shares now pledged
.

1923.

P.D.

8,

109

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets.

....

Loans on real estate
Loans on shares
Loans on matured share
War savings stamps
Cash

.$1,204,700 00
13,860 00
950 00
certificates
103 00
47,967 81
.

.

.

.

.

.

$1,267,580 81

Shaxes.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

4,108
1,743
12

463
15,037
6,534
1,855
240

1923.

110

P.D.

8,

Part III.

Ill
Rates and Averages on Loans.

40 real estate loans (average, $3,392.50 each; average rate, 6%): 6%, $135,700.
14 share loans (average, $273.57 each; average rate, 6%): 6%, $3,830.

Total Expenses for Year.

Amount

paid for

Cost per $1,000

.

of assets

Salaries.

Rent.

Advertising.

Other Expenses.

$250.00
1.66

$376.09
2.49

$68.50

$245.08
1.62

.45

Total.

$939.67
6.22

NATICK — HENRY WILSON CO-OPERATIVE BANK.
Incorporated October 23, 1886.

Daniel C. Fblton,

Began business November

12, 1886.

Habvey H. Whitney,

President.

Treasurer.

Board
Balcom, Peter Cashion, D. C. Fblton,* Richard Foley, W. A. Laughton,
M. E. McGrath, L. E. Pulsifer, D. W. Richardson, E. W. Rogers, J. E. Sweetland, G. F. WhitWhitney,*
ney,* H. H.
N. P. Young.
of Directors: A. P.

Regular meetings for receipt of moneys the second Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

.....
....

Assets.

Loans on real estate
Loans on shares
Common form mortgages
Unpaid interest
Cash

....

1923.

Liabilities.

$697,450 00
11,900 00
1,850 00
2,463 49
12,093 42

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

....

Matured share account
Guaranty fund
Surplus

.

.

.

.

Dividends on matured share
cates

.

.

.

Dividends on paid-up share
cates

$726,756 91

.

.

.

.

.

certifi.

.

certifi.

.

$458,611

112

P.D.

NEEDHAM — NEEDHAM CO-OPERATIVE BANK.
Began business

Incorporated April 21, 1892.

Walter

F. Snow, President.

Board of Directors:

J.

May

9,

8,

Part III.

1892.

William G. Moseley,

Treasurer.

Buckley,* F. G. Clews,* G. W. Holt,* C. M. Locke,* W. C. Mason, E.
Smith, W. F. Snow, F. J. Stanwood, S. H. Wragg.*

W.

F.

Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Banking house
Permanent expense account

Cash

Dues capital
Profits capital

$2,539,710 00
66,405 00

.

$1,820,501
413,660
235,200
69,000

Matured share

275 00
4,500 00
6,865 08
31,000 00
2,500 00
194 00
2,523 66

.....

Personal accounts

Paid-up

Forfeited share account

.

Guaranty fund

10

44,410 24
37,468 11
33,690 99

Surplus

Due on uncompleted

00

00
00
42 30

certificates
share certificates

loans

$2,653,972 74

$2,653,972 74

....

Membership.

Shares.
Issued during year

1923.

Liabilities

Added during year
Withdrawn during year

11,091
5,143
5

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

796

560
304

.....
.....

Members
Borrowers

39,136
15,306

3,001

882

Profits Distributed.

1,176

Unmatured Shares.

345

First term,

3%; second term, 3%.

Matured Share
First term,

2M%;

Certificates.
second term, 2%%-

Paid-up Share Certificates.
First term, 23^^%; second term, 23>-^%.

Proportion of profits retained on voluntary withdrawals, on series less than 7 years old the last dividend;
after 7 years, none.

Rates and Averages on Loans.
847 real estate loans (average, $2,998.48 each; average rate, 6.3%): 6.3%, $2,539,710.
247 share loans (average, $268.85 each; average rate, 6.3%): 6.3%, $66,405.
1 loan on matured share certificates: 6.3%; $275.

Total Expenses for Tear.

Amount paid

for
of assets
.

Cost per $1,000

.

Advertising.

Salaries.

Rent.

$4,448.60
1.68

$674.96

$197.00

.26

.07

Other Expenses.

$2,870.78
1.08

Total.

;8,191.34

3.09

NEW BEDFORD — ACUSHNET CO-OPERATIVE BANK.
Incorporated November 15, 1889.

Frederic Taber,

Began business November

William

President.

16, 1889.

F.

Desmond,

Treasurer.

Board of Directors: L. B. Bates,* S. J. Besse, W. F. Desmond, W. B. Gardner, John Gibson,* E. F.
Nicholson, E. E. F. Potter, C. R. Price,* Frederic Taber, F. H. Taber, J. O. Thompson, Jr.,
B. a. Tripp, H. W. Tripp,* E. H. Wefer,* S. F. Winsper.
Regular meetings for receipt of moneys the fourth Saturday of each month.
Security Committee.

P.D.

8,

113

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines

Liabilities

$1,342,900
49,075
1,293
145
63,493

.

Cash

1923.

Dues

00
00
90

capital
Profits capital

18

Paid-up

77

Forfeited share account

$973,794
166,317
99,000
124,400

.

Matured share

certificates
share certificates

1

Guaranty fund

217 75
40,000 00
5,333 33

Interest

payable

.

Due on uncompleted

loans
Dividends on matured share
cate
Dividends on paid-up share
cate

....

certifi-

1,122 50
certifi-

1,555 00

.

$1,456,907 85

$1,456,907 86

Membership.
Added during year
Withdrawn during year
Members

Shaxes.
8,323
5,643
5

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

15

22,515 15
22,651 97

Surplus
Bills

GO

00
00
00

565
468

....
....
.

420

Borrowers

25,465
8,773

2,151

599

Profits Distributed.

495
622

Unmatured Shares.
1%%; second term, 1?^%; third term,
fourth term, 13^%.

First term,

1^%;

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
1M%; fourth term, lJi%.

First term,

Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Rates and Averages on Loans.
476 real estate loans (average, $2,821.22 each; average rate, 6%): 6%, $1,342,900.
123 share loans (average, $398.98 each; average rate, 6%): 6%, $49,075.

Total Expenses for Year.

Amount paid

for
per $1,000 of assets

Cost

.

Salaries.

Rent.

$3,841.52

$1,209.83

$245.83

2.64

.83

.17

Advertising.

Other Expenses.

Total.

$1,563.25
1.07

$6,860.43
4.71

NEW BEDFORD — NEW BEDFORD CO-OPERATIVE BANK.
Incorporated July

11",

1881.

Began business August

19, 1881.

William

Lot B. Bates, President.

Desmond,

F.

Treasurer.

Board of Directors: L. B. Bates,* S. J. Besse, W. F. Desmond, W. B. Gardner, John Gibson,* E. F.
Nicholson, E. E. F. Potter, C. R. Price,* Frederick Taber, F. H. Taber, J. O. Thompson, Jr
B. a. Tripp, H. W. Tripp,* E. H. Weper,* S. F. Winsper.
Regular meetings for receipt of moneys the third Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines
.

Cash'

1923.

Liabilities

,841,975 00

72,900 00
2,116 77
227 08
81,500 82

Dues capital
Profits capital

:,

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest
Bills

payable

Due on uncompleted

loans

Dividends on matured share
cates

$1,998,719 67

Security Committee.

00
42
00
00
04
73
43
05
00
00

certifi

cates

Dividends on paid-up share

282,454
238,635
168,800
141,200
215
38,432
42,367
380
80,000
2,500

1,970 00
certifi-

1,765 00

$1,998,719 67

Shares.

P.D.

8,

Part III.

115
Rates and Averages on Loans.

638 real estate loans (average, $1,940.70 each; average rate, 6.61%): 6%, S399,950; 7%, $644,150.
17 share loans (average, $236.76 each; average rate, 6.64%): 6%, $1,450; 7%, $2,575.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for

Cost per $1,000

.

$3,635.18
3.38

.

of assets

Advertising.

$814.28

$74.73

.75

.07

Other Expenses.

Total.

$1,289.89
1.20

$5,814.08

5.40

NEWTON — AUBURNDALE CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys

Summer
Incorporated February

William K. Corey,

8,

:

Comnaionwealth Atlantic National Bank, 88

Street, Boston.)

1910.

Began business February

15, 1910.

Charles E. Valentine,

President.

Charles

S.

Cowdret,

Treasurer.

Assistant Treasurer.

Board of Directors: F. H. Allison, C. D. Anslet, G. A. Bacon, G. P. Bropht, E. T. Cadt, W. K. Cobet,
C. S. Cowdret, C. B. Floyd, J. H. Gordon,* W. F. Hadlock,* H. A. Hansen, L. H. Hilton, G. F.
Rowland,* C. P. Hutchinson, J. A. Leonard, W. H. Nash,* W. J. Spaulding, H. L. Tange,* C. E.
Valentine, H. A. Wbntworth, G. M. Winslow.
Regular meetings for receipt of moneys the

Tuesday

first

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Temporary expense account

Cash

......

Dues

$575,809 00
10,725 00
900 00
262 25
31,192 06

capital
Profits capital

00
66
00
00
5,391 74
3,485 87

$328,905
57,319
169,000
40,400

.

Matured share

certificates
share certificates

Paid-up

Guaranty fund
Surplus
Interest

Fines

....

Due on uncompleted

5,761 46

107 58
8,400 00
117 00

loans

Security committee

$618,888 31

$618,888 31

Membership.

Shares.
Issued during year

1923.

Liabilities

3,593
1,539

.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged

176
120
613

Borrowers

169

....
....
.

604
8,851
3,334

Matured shares represented by certificates
Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

845
202

Profits Distributed.

Unmatured Shares and Matured Share Certificates.
First term, 15^%; second term, lJi%; third term,

13^%; fourth term,

1%%.

Paid-up Share Certificates.
First term,

1M%;

1M%;

second term,

fourth term,

1M%;

third term,

1M%-

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averag'es on Loans.
138

real estate loans (average,

,172.53 each; average rate, 5.97%): 5;^^%, $54,600; 6%, $500,184;

$21,025.
SI share loans (average, $346 each; average rate, 6.10%): 6%,
1 loan on matured share certificates: 6%, $900.

,670;

6M%,

6H%,

$2,055.

Total Expenses for Year.

Amount

paid for

Cost per $1,000

.

of assets

Salaries.

Rent.

Other Expenses.

Total.

$1,123.30
1.81

$120.00

$15.00

$344.38

.20

.02

.56

$1,602.68
2.59

* Security

Committee.

Advertising.

P.D. 8,.PartIII.

116

NEWTON — NEWTON CO-OPERATIVE BANK

(Other authorized locations for receipt of moneys: 73 Tremont

St.,

Boston, and Newton Upper

Falls.)

Incorporated June 14, 1888.

James W. French,

Began business September

President.

Samuel W. French,

4,

1888.

Cheevbr Fuller,

J.

Treasurer.

Assistant Treasurer.

Board of Directors: C. R. Brown,* W. M. Cahill, J. E. Callanan, T. C. Donovan, C. A. Fitzgerald,*
J. W. French,* S. W. French, G. S. Fuller, J. C. Fuller,* P. McVicar,* F. H. Stuart,* G. M.

Weed.
Regular meetings for receipt

of

moneys the

first

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

1923.

Liabilities

Loans on real estate
Loans on shares
Temporary expense account
Insurance and taxes paid
Cash

....

Dues capital
Profits capital

00
00
40

,344,875
11,575
1,623
141

Paid-up

31
77,778 69

certificates
share certificates

Forfeited share account

504
29,695
9,379
14,390
185 15
327 01

Guaranty fund
Surplus
Interest

Fines

Withdrawal

profits

$1,435,993 40

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Retired during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

$1,435,993 40

Membership.
Added during year
Withdrawn during year
Members

6,097
3,813

.

00
90
00
00
27
29
46
32

$1,046,419
195,692
109,800
29,600

.

Matured share

356
280

....
....
.

40
373
244
23,696

Borrowers

2,024

605

Profits Distributed.

7,065

Unmatured Shares.

549
148

First term,

l''/i6%',

second term, 1%6%; third term,

1%6%; fourth term, l%e%.

Matured Share

Certificates.

First term, 1}4%', second term, 1}4%', third

1H%;

fourth term,

term

1^%-

Paid-up Share Certificates.
Fourth term, 1M%Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old 10%, 5 to 8 years;
after 8 years, none.
;

Bates and Averages on Loans.
average rate, 6.41%): 5%, $25,575; 5J^%, $291,750; 6%,
$310,800; 7%, $716,750.
rate, 6.95%): 5^%, $350; 6%, $2,800; 7%, $8,425.
each;
average
SI share loans (average, $373.38

678

real estate loans (average, $2,326.77 each;

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets

.

.

Salaries.

Rent.

$4,931.00

$1,320.00

$812.73

.34

.92

.56

Advertising.

Other Expenses.

$1,836.91
1.28

Total.

8,900 64
.

6.20

NEWTON — NEWTON SOUTH CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: A. Leslie Harwood, Jr., 68 Devonshire
Street; G. W. Thompson, 80 Langley Road, Newton Centre; Thomas L. Aiken, 301 Eliot
Street,

Newton Upper

Falls.)

Incorporated July

Clarence

S.

S,

1913.

Began business September

18, 1913.

Charles W. Mercer,

LuitwiSler, President.

Treasurer.

Board of Directors: T. L. Aiken, R. F. Alvord,* D. A. Ambrose, G. W. Barker,* J. M. Beck,* W. J.
Cozens,* E. S. Drowne, C. W. Fewkes, A. L. Harwood, Jr., A. S. Kendall, C. S. Luitwieleb,
C. W. Mercer, J. E. Parker, J. E. Peakes, G. W. Pratt, T. J. Sullivan, G. W. Thompson,* James
Willing.
Regular meetings for receipt of moneys the third Thursday of each month.
* Security

Committee.

P.D.

8,

117

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Unpaid fines

....
.

Temporary expense account
Cash

$414,600 00

1923.

P.D.

118
Issued during year

2,165

.

Withdrawn during year
Forfeited during year
Shares in force

Shares now pledged
Paid-up shares represented by

8,

Part III.

.....
....

Membership.

Shares.

certificates

860
30
4,240
777
53

Added during year
Withdrawn during year

196
89

Members

404
47

Borrowers
Profits Distributed.

Unmatured Shares.
1%%;
1%%.

First term, 1J^%; second term,

third term,

13^%; fourth term,

Paid-up Share Certificates.
First term, X}4,%', second term,

1M%;

fourth term,

1M%;

third term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Kates and Averages on Loans.
loans (average, S3,304.54 each; average
real
US share
loans (average, $200 each; average rate, 6%):

rate,

estate

6.42%): 6%, $83,800; 7%, $61,600.

6%, $600.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

Salaries.

Rent.

$230.00
1.49

$499.69
3.24

Advertising.

Other Expenses.

$46.31
.30

$588.80
3.82

Total.

$1,364.80

8.85

NEWTON — WEST NEWTON CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys:
Incorporated June 14, 1892.

Charles E. Hatfield,

Boom

71S, 387

Began business June

Washington Street, Boston.)

22, 1892.

Alfred E. Thayer,

President.

Treasurer.

Board of Directors: F. J. Burrage, H. F. Gate, R. S. Harrison, C. E. Hatfield,* F. M. Lowe,* M. F.
Lucas,* Francis Newhall, Ellert Peabody, J. B. Ross, A. E. Thayer, S. B. Thomas, H. L.
Whittlesey,* J. E. Whittlesey.
Regular meetings for receipt of moneys the fourth Wednesday of each month.

STATEMKNT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Temporary expense account
Overs and shorts
Cash

.....
.

$795,600 00
15,150 00
200 00
718 57
2 54
24,689 10

1923.

P.D.

8,

119

Part III.
Rates and Averages on Loans.

266

real estate loans (average, $2,990.98 each;

average rate, 5.84%): 5.3%, $151,400; 5.5%, $36,400; 6%,

$607,800.

40 share loans (average, 378.75 each; average rate, 5.93%): p.3%, $260; 5.5%, $1,600;
1 loan on matured share certificates: 6%, $200.

6%, $13,290.

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

Other Expenses.

Salaries.

Rent.

Advertising.

$3,096.35
3.70

$697.55

$140.57

$747.16

.83

.18

.89

Total.

$4,681.63
5.60

NORTHAMPTON — NORTHAMPTON CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: 92 Maple Street, Florence; 103
Easthanapton.)
Incorporated

May

21, 1889.

May

Began business

Main

Street,

24, 1889.

H. R. Graves, Treasurer.

L. L. Campbell, President.

Board of Directors: O. B. Bbadley, L. L. Campbell,* C. H. Chase, F. L. Clapp, W. M. Cochran,* W. N.
DoANE, G. A. Dragon, H. R. Graves,* H. B. Haven,* R. W. Irwin, J. W. O'Brien,* E. E. Wood, Jr.
Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Banking house
Permanent expense account
Temporary expense account
Personal accounts
Building account

Cash

....
.

.

$2,971,600
80,890
3,670
1,200
3,400
40,245
299
4,406
27
116
54,883

00
00
00
00
00

Dues

$1,871,593
317,548
559,400
150,600
1,050
4,015
49,819
45,685
80,625

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

46

Forfeited share account
Matured share account

16

Guaranty fund

90
00
49
22

Surplus
Fines
Transfer fees

Withdrawal
Bills

Due

00
17

00
00
82
00
03
17

51
866 15
5 00
822 08
8 30
55,000 00
23,700 00

Interest

profits

Forfeiture profits

.

payable
on uncompleted loans

$3,160,738 23

$3,160,738 23

Membership.

Shares,
Issued during year

1923.

Liabilities

Assets.

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

12,468
5,498
32
1,283
43,124
17,860
2,797
753

Added during year
Withdrawn during year

.....
.....
.

Members
Borrowers

.

.

.

857
516
3,820
1,274

Profits Distributed.

Unmatured Shares.
First term, 2J^%; second term, 2J^%.

Matured Share
First term,

2M%;

Certificates.
second term, 2M%.

Paid-up Share Certificates.
23^%; second term, 2J^%.

First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

series less

than 4 years old; after 4 years,

Rates and Averag-es on Loans.
1,031 real estate loans (average, $2,882.25 each; average rate, 6%): 6%, $2,971,600.
243 share loans (average, $332.88 each; average rate, 6%) 6%, 180,890.
11 loans on matured share certificates: 6%, $3,670.
2 loans on paid-up share certificates: 6%, $1,200.
:

* Security Committee.

P.D.

120

8,

Total Expenses for Year.
Salaries.

Amount

paid for

Cost per $1,000

.

of assets

.

$6,525.00

2.06

Rent.

-

Advertising.

$56.00
.02

Other Expenses.

Part III.

P.D.

8,

121

Part III.

STATEMENT OF CONDITION AT THE CLOSE Or THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares

Common

form mortgages

Temporary expense account

....

Insurance and taxes paid

Cash

Liabilities.

S9,808 17
432,375 00
12,122 50
385 00
399 36
57 13
12,170 28

$467,317 44

1923.

Shares.

P.D.

8,

123

Part III.
Total Expenses for Year.
Rent.

Salaries.

Amount

paid for

$5,753.25
3.01

.

Cost per $1,000 of assets

PITTSFIELD

— UNION

Incorporated January

4, 1911.

Advertising.

Other Expenses.

Total.

$456.00

$530.00

$1,658.74

$8,397.99

.24

.28

.87

4.40

CO-OPERATIVE BANK.
Began business January

17, 1911.

William C. Moulton,

Clifford Francis, President.

Treasurer.

Board of Directors: "W. A. Burns, C. C. Chesnet, C. F. Coogan,* G. H. Cooper, T. F. Cosgriff, W. M.
Crane, Jr., Z. M. Crane, J. B. Cummings, F. W. Dutton,* J. H. Enright, D. F. Farrell, W. J. Foss,
Clifford Francis, D. J. Gimlich,* Harry Holden, E. N. Huntress, Joseph Insull,* W. C. Moulton, J. F. Pender, D. H. Pike,* T. F. Plunkett, J. B. Ruscitta, H. J. Ryan, J. R. Savery, R. F.
Stanton, W. C. Stevenson, D. P. Sweeney, J. W. Synan, J. F. Titus, G. H. Tucker, J. McA.
Vance, D. J. Walsh, W. A. Whittlesey.
Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Temporary expense account
Cash

$24,614
390,700
10,902
167
4,710

....

Dues capital
Profits capital

82
00
00
51
74

Surplus

....

38 91
$431,095 07

Membership.
Added during year
Withdrawn during year
Members

Shares.
5,688
2,125
10

500

Borrowers

1,137

163

Profits Distributed.

208

certificates

453
203

....
....
.

10,981
2,502

by

00
63
74

6,290 00

loans

$431,095 07

.

79

1,810 00

Interest

Fines

00

$318,888
52,692
41,600
4,403
5,281

.

Matured share certificates
Guaranty fund

Due on uncompleted

Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented

1923.

Liabilities

Unmatured Shares.
First term, 1}^%; second term, 13^%; third term,

11^%; fourth term,

1^%-

Matured Share
Fourth term, 1M%.

Certificates.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
135

real estate loans (average, $2,885.93 each;

average rate, 5.65%): 5%, $137,050; 6%, $253,650.
rate, 5.94%): 5%, $630; 6%, $10,272.

S8 share loans (average, $389.35 each; average

Total Expenses for Year.
Rent.

Salaries.

Amount paid

for
of assets

$660.00
1.53

$1,250.00

.

Cost per $1,000

2.89

Advertising.

Other Expenses.

$308.87
.72

$615.98
1.43

Total.

$2,834.85
6.57

PLYMOUTH — PLYMOUTH CO-OPERATIVE BANK.
Other authorized location for receipt

of

moneys American Trust Company,
:

50 State Street,

Boston.)
Incorporated June

Washburn,

John

B.

Board

of Directors: A. L.

7,

1882.

Began business June

20, 1882.

Elmer E. Avery,

President.

Treasurer.

Barnes, Joseph Barnes,* E. K. Bartlett, E. R. Bbaman, E. L. Burgess,*
Eleazar Davies, H. M. Douglas, F. J. Heavens, M. S. O'Brien,* E. L. Sampson, F. R. Snow,
H. R. Talbot, L. C. Tripp, J. B. Washburn,* H. O. Whiting.*
Regular meetings for receipt of moneys the third Tuesday of each month.
* Security Committee.

124

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares

Common

form mortgages

Real estate by foreclosure, etc.
Unpaid interest
Unpaid premiums
Unpaid fines
Temporary expense account
Insurance and taxes paid

$29,700
2,342,750
84,650
4,573
4,700
4,515

Cash

00
00
00
00
56

Dues capital
Profits capital

14

Surplus

....
.

$1,872,967
407,323
59
88,893
33,775
13,889
61,737
3,109
2,310

.

Forfeited share account

Matured share account
Guaranty fund

225 62
697 15
3,559 87
215 65
105 00
71,480 25

.

.

Personal accounts

Interest

Premiums
Fines

Withdrawal
Bills

760

profits

payable

57,000
5,300

Due on uncompleted

loans
Teller's over and short account

46

$2,547,172 24

00
16

36
60
07
55
59
21
00
83
00
00
87

$2,547,172 24

Membership.

Shares.
Issued during year

1923.

Liabilities

Added during year
Withdrawn during year
Members

7,499
1,772

.

Withdrawn during year
Forfeited during year

76

Matured during year
Shares in force
Shares now pledged

34,973
13,592

526
322

....
....
.

Borrowers

1,700

3,410
1,283

Profits Distributed.

Unmatured Shares.
First term, 3.1%; second term,

Proportion of profits retained on voluntary withdrawals,

25% on series less than

3%.

5 years old;

10%

thereafter.

Rates and Averages on Loans.
1,301 real estate loans (average, $1,800.73 each; average rate, 6.3%,): 6.3%, $2,342,750.
344 share loans (average, $246.08 each; average rate, 6.3%); 6.3%, $84,650.

Total Expenses for Year.
Rent.

Salaries..

Amount

paid for
Cost per $1,000 of assets
.

.

$4,774.46
1.87

Advertising.

$404.02

$206.42

.16

.08

Other Expenses.

$3,050.02
1.20

Total.

$8,434.92
3.31

QUINCY — QUINCY CO-OPERATIVE BANK.
Incorporated April 17, 1889.

Frank W. Crane,

Began business

May

7,

1889.

Frank A. Reed,

President.

Treasurer.

Board of Directors: G. W. Abele, L. S. Cleaves, F. W. Crane, R. E. Foy, J. P. Granahan, J. B. Grossman, J. F. Hunt,* Perry Lawton, C. J. McGilvray, J. W. Nightingale, F. A. Reed, J. G.
Roberts, E. R. Stone, H. O. Studley, F. E Tupper,* C. H. Wilson, J. F. Young.*
Regular meetings for receipt of moneys the

first

Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest

$46,222 76

certificates

Insurance and taxes paid

.....

Certificate of deposit

Cash

1923.

P.D.

8,

Part III.

125
Membership.

Shares.
Issued during year

.

Withdrawn during year
Forfeited during year
Matured during year
Shares in force

Shares

now pledged

Matured shares represented by
Paid-up shares represented by

certificates
certificates

Added during year
Withdrawn during year
Members

10,257
4,026
121
1,287
40,010
16,137
2,327

796
407

....
....
.

Borrowers

3,703
1,138

Profits Distributed.

Unmatured Shares.

518

1M%; second term, 114%
fourth term, lH7c-

First term,

1}^%;

third term,

<

Matured Share Certificates.
\%%; second term, 1%%; third term,

First term,

iys7o; fourth term, 1?^%.

Paid-up Share Certificates.

1M%I second term, 134%; third term,
fourth term, 134%.

First term,

1M%;
Proportion of profits retained on voluntary withdrawals,
none.

25% on

series less

than 5 years old; after 5 years,

Rates and Averagres on Loans.
S4S

rea/ estate ioans (average, $2,809.54 each; average rate, 6.16%):

53^%, 8536,600; 6%, $709,350; 63^%,

$1,420,300.

S79 share loans (average, $244.35 each; average rate, 6.40%); 53^%, $1,975; 6%, $8,500; 6J^%, $57,700.
1 loan on matured share certificates: 63^%, $1,000.

Total Expenses for Tear.
Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$4,691.34
1.61

Rent.

Other Expenses.

Advertising.

Total.

$846.31

$146.28

$2,232.56

$7,916 49

.29

.05

.77

2.72

QUINCY — SHIPBUILDERS CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: Central Building, Hancock Street, Quincy.
Incorporated January 16, 1920.

H. Fred Lalley,

Began business February

13, 1920.

Edward

President.

>

B. Derr, Treasurer.

Board of Directors: J. B. Bruton,* Olaf Carlburg, D. Crowley, E. B. Derr, T. J. Donlin, L D Duncan, Jr., F. FoY,* L. D. Greene, R. M. Harmon, D. M. Holman,*W. R. Hurley, G. J. Husband,
H. F. Lalley, W. McCormick, N. Miller, W. H. Rideout, C. E. Sullivan, W. Walsh, C. R.

Young.

Regular meetings for receipt of moneys the second Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Unpaid interest
Cash

$81,650
4,825
79
4,124

00
00
94
45

Dues capital
Profits capital

$76,530
5,864
6,800
147
341
761
35
200

.

Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus
Security committee
Personal accounts

.

$90,679 39

00
07
00
81

20
31
00
00

$90,679 39

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates
.

1923.

Liabilities

Membership.
3,818
1,051

137
4,906
704
34

Added during year
Withdrawn during year

490

Members

606
54

....
....
.

Borrowers

153

Profits Distributed.

Unmatured Shares.
114%; second term, 13^%; third term,
13^%; fourth term, 13^%.

First term,

Paid-up Share Certificates.
134%; second term, 134%; third term,
13€%; fourth term, 13^%.

First term,

Proportion of profits retained on voluntary withdrawals, 20% on series less than 3 years old
from 3 to 6 years old; after six years, none.
* Security Committee.

;

15% on

series

P.D.

126

8,

Part III.

Rates and Averages on Loans.
37 real estate loans (average, $2,206.76 each; average rate, 6%) 6%, $81,150; 6K%. S500.
17 share loans (average, $283.82 each; average rate, 6.13%): 6%, $2,260; 6H%, $2,565.
:

Total Expenses for Year.
Rent.

Salaries.

Amount paid
Cost

Advertising.

Other Expenses.

Total.

$101.88
1.12

$212.67
2.35

$314.55
3.47

for
per $1,000 of assets
.

QUINCY — WOLLASTON CO-OPERATIVE BANK.
(

other authorized locations for receipt of moneys Atlantic Pharmacy, Atlantic
:

;

1135 Old South

Bldg., Boston.)

Incorporated April

Frederick H. Bishop,

8,

Began business April

1889.

16, 1889.

Herbert W. Pinkham,

President.

Treasurer.

Board of Directors: C. S. Adams, C. W. Bailey, C. H. Baker, L. M. Baker, F. H. Bishop, John Buchanan,
Thomas Fenno, A. W. Macfarland, C. A. Macfarland,* Arthur Murphy,* N. G. Nickerson,*
N. G. Nickerson, Jr., H. W. Pinkham, W. S. Pinkham, R. W. Poole, A. H. Richards, G. E.
Thomas, H. T. Whitman, C. F. Wilde.
Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Real estate by foreclosure, etc
Permanent expense account

Cash

Dues

$2,211,880 00
47,575 00
232 29

....

.

.

Matured share

certificates
share certificates

Paid-up

00

$1,742,178
384,028
146,600
29,000
217
28,025
9,208
3,926

capital
Profits capital

300 00
1,150 50
477 28
132 00
98,524 72

Temporary expense account
Insurance and taxes paid
Security committee fees

1923.

Liabilities

Assets.

Forfeited share account

Guaranty fund

79
00
00
69

00
29
90
289 28
'
75
368 19
16,195 00
233 90

Surplus
Interest

Fines
Transfer fees
.

Withdrawal profits
Due on uncompleted loans
Interest on bank balances

$2,360,271 79

$2,360,271 79

Membership.

Shares.

Added during year
Withdrawn during year
Members

10,388
5,313
1,112
36,832
13,074
733
145

Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

611
419

....
....
.

Borrowers

.

3,005

835

Profits Distributed.

Unmatured Shares.
First term, lyi6%; second term, 1}^%; third term,

1H%:

fourth term, 1}4%.

Matured Share
First term, 15/i8%; second

Certificates.
term 1^%; third term,

13^%; fourth term, 1?^%.

Paid-up Share Certificates.

1M%; second term,
fourth term, 1M%.

First term,

1M%;

1%%;

25% on series less than 5 years old; 20% on
from 6 to 7 years old; after 7 years, none.

Proportion of profits retained on voluntary withdrawals,

from 5 to 6 years old; 10% on

series

third term,

series

Rates and Averages on Loans.
real estate loans (average, $2,587 each; average rate, 6.20%): 5}^%, $444,350; 5?^%, $33,250; 6%,
.$401,180; 6M%, $20,400; 6}^%, $1,308,600; 6%%, $3,200; 7%, $200; 9%, $700.
$20; 6%, $2,830; 6M%.
171 share loans (average, 8278.22 each; average rate, 6.48%): 5i^%, $200;

855

$250;

6H%,

5M%,

$43,595; 7%, $500; 8i^%, $80;

9M%,

$100.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

Advertising.

.57

$1,281.83

$100.36

3.44

.54

.04

$8,110.

* Security

Committee.

Other Expenses.

Total.

$2,769.94
1.18

$12,262.70
5.20

P.D.

8,

127

Part III.

RANDOLPH — RANDOLPH CO-OPERATIVE BANK.
Incorporated January 29, 1889.

Franklin W. Hayden,

Began business February

7,

1889.

Herman W. French,

President.

Treasurer.

Board of Directors: James Fardy, T. A. Fardy, J. H. Field, H. W. French,* D. J. Hand, F. W. Hayden,*
A. H. Holbrook, H. F. Howard, J. T. Leahy, M. E. Leahy, F. D. McCarty, R. E. O'Brien.*
Regular meetings for receipt of moneys the

first

Thursday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Temporary expense account
Insurance and taxes paid
Cash

.....

$544,850 00

1923.

P.D.

128

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

Loans
Loans
Loans
Loans

on
on
on
on

real estate

shares

.

.

.

matured share
paid-up

certificates
share certificates

.....

$1,287,350
44,800
180
2,050

00
00
00
00

203 41
31,866 13

Insurance and taxes paid

Cash

1923.

Liabilities

Assets.

Dues capital
Profits capital

$959,018
209,153
74,400
80,400
26,882
2,400
10,050
365

.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus
Due on uncompleted loans
Personal accounts
Dividends, matured share certificates
Dividends, paid-up share certificates
.

$1,366,449 54

00
30
00

00
74

00
00
49

1,770 01
2,010 00

$1,366,449 64

—^2
Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

4,930
2,301

46
343

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

Membership.
Added during year
Withdrawn during year
Members
Borrowers

20,219
8,040

372
402

Unmatured Shares.
3%; second term, 3%.

First term,

Matured and Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.

25% on

Certificates.

2^4%; second term, 2}^%.

series less

than 5 years old; after 5 years,

Rates and Averages on Loans.
484 real estate loans (average, $2,659.81 each; average rate, 6%): 6%, $1,287,350.
154 share loans (average, $290.91 each; average rate, 6%): 6%, $44,800.
1 loan on matured share certificates: 6%, $18().
4 loans on paid-up share certificates: 6%, $2,050.

Total Expenses for Year.
Salaries.

paid for

.

Cost per $1,000 of assets

.

$3,265.00
2.39

596

Profits Distributed.

First term,

Amount

281
192
1,842

Rent.

Advertising.

$480.00

$363.50

.35

.27

Other Expenses.

P.D.

8,

Part

129

III.

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

1,488

Added during year
Withdrawn during year
Members

669

Borrowers

222

144
120

....
....
.

858
3
181
6,032
2,235
171

Profits Distributed.

54

Unmatubed Shares.
First term, 2>g%; second term, 2J^%.

Matured Share
First term,

Certificates.

2J^%; second term,

2M%-

Paid-up Sh.ire Certificates.
First term, 23^%; second term, 2}^%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 6 years old;
from 6 to 7 years old; 5% on series from 7 to 8 years old; after 8 years, none.

15% on

series

Rates and Averages on Loans.
$1,980.03 each; average rate, 6.3%): 5}4%, $1,290; 5M%, $1,400;
$126,600; 6^/^%, $207,315.
S3 share loans (average, $220.86 each; average rate, 6.45%): 6%, $1,910; 63^%, $18,409.
2 loans on matured share certificates: 6J^%, $850.

170 real

estate loans (average,

6%

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for

Other Expenses.

Advertising.

-

$1,500.00
3.95

.

Cost per $1,000 of assets

$113.20

$905.05
2.38

.30

Total.

$2,518.25
6.63

ROCKLAND — ROCKLAND CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys:

W.

S. Curtis,

Hanover; John

Incorporated February 21, 1911.

George W. Kelley,

S.

Thomas Drew & Company,

So. Hanover;

Brooks, No. Hanover.)

Began business March

1911.

9,

Charles

President.

J.

Higgins, Treasurer.

Board of Directors: F. S. Alger, S. W. Baker,* J. D. Carney, E. S. Damon,* J. H. Dunn, F. J. Grogan,
C. J. Higgins, G. W. Kelley, M. W. Murrill, James O'Donovan, J. F. Spence, B. L. Stetson,
C. A. TowNSEND,* H. T. Wright.
Regular meetings for receipt of moneys the second Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Loans on real estate
Loans on shares
Unpaid fines
Permanent expense account
Temporary expense account
Cash
.

....

1923.

Liabilities

$597,965 00
13,385 00
14 68
75 00
294 31
6,121 57

Dues capital
Profits capital

Matured share

$420,820
78,020
104,200
29

certificates

Forfeited share account

Matured share account
Guaranty fund

.

1

.

4,443
1,592
5,513

Surplus
Interest

Transfer fees

Withdrawal

profits

Forfeiture profits

102
8
3,120
3

.

Due on uncompleted

loans

Overs and shorts
$617,855 56

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
.

2,559

946
35

422

00
95
00
00
74
95
04
80
50
30
00
00
28

$617,855 56

Membership.
Added during year
Withdrawn during year
Members

.160
......
......
.

Borrowers

10,652
3,538

.

.

.

.

.

.

.

115

1,219

352

Profits Distributed.

521

Unmatured Shares.
First term,

3%; second term, 3%.

Matured Share
First term,

2%%;

Certificates.
second term, 2Ji%.

Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old;
from 5 to 7 years old; after 7 years, none.
* Security

Committee.

10% on

series

P.D.

130

8,

Part III.

Bates and Averages on Loans.
316 real estate loans (average, $1,892.29 each; average rate, 6%) 6%, $597,965.
Se share loans (average, $371.80 each; average rate, 6%): 6%, $13,385.
:

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

Salaries.

Rent.

$881.32
1.43

$204.31

$122.95

$584.48

.33

.20

.95

Other Expenses.

Advertising.

Total.

$1,793.06
2.91

SALEM — ROGER CONANT CO-OPERATIVE BANK.
Incorporated November

Vincent
Board of

W.
M.

S.

Directors:

S.
J.

9,

1894.

Began business November

I.

Felton,

J.

13, 1894.

Joshua B. Merrill, Treasurer.

Peterson, President.

K. Annablb, R. B. Buckham,* J. N. Clark, G. W. Creesy,* G. B. Farrington,
H. GiFFORD, J. B. Merrill, C. F. A. Morse,* V. S. Peterson,* L. D. Pedrick,

Reardon, R. a. Stanley, G. A. Wilkins,* E.

F.

Woodman.

Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

.

.

.

.

.

.

.

Dues

.

$1,255,055 00
37,185 00

Matured share

.

600 00
70 00
1,874 53
18,623 91

Guaranty fund

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Cash
.

.

$840,654
165,977
107,400
130,600

00
85
00
00
46 00
20,6.59 00

capital
Profits capital

Paid-up

.

certificates
share certificates

Forfeited share account

.

Surplus
Bills payable

25,937 64
10,000 00
7,634 19

Due on uncompleted loans
Due on foreclosure sale

1,524 76

.

Dividends on matured share

certifi-

1,342 50

cates

Dividends on paid-up share

certifi

1,632 50

cates

$1,313,408 44

$1,313,408 44

Membership.

Shares.
Issued during year

1923.

Liabilities

Assets.

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged

Matured shares represented by certificates
Paid-up shares represented by certificates

4,821
2,648

33
190
18,534
7,669

537
653

P.D.

8,

Part III.

Incorporated April

George W. Pickering,
Board

7,

Began business April

1888.

13, 1888.

Albert C. Mackintire,

President.

G. A. Bodwell, W. E. Curtis, J. C. Entwisle, E. P. Lane,
W. Pickering,* G. W. Pitman,* H. E. Reynolds, S. H. Wilkins,* W.

of Directors:

G.

131

SALEM — SALEM CO-OPERATIVE BANK.

Treasurer,

A. C. Mackintire
F. Williams.

Regular meetings for receipt of moneys the second Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
Temporary expense account

....

$2,632,420
77,063
2,025
2,400
5,663

53
50
00

00
40
729 37

1,077 35
30,287 82

Dues capital
Profits capital

$1,834,590
379,099
181,400
244,000

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Shares.
10,920
5,716

.

Forfeited during year

26
881
42,236

Matured during year
Shares in force
Shares now pledged

$2,751,666 97

Membership.
Added during year
Withdrawn during year
Members

3,950

Borrowers

1,194

Matured shares represented by

certificates
certificates

.

Profits Distributed.

907
1,220

710
452

....
....

15,403

Paid-up shares represented by

00
00

8,200 00

$2,751,666 97

Withdrawn during year

00
34

32 28
46,285 58
44,048 60
13,480 66
244 74
75
285 02

Withdrawal profits
Due on uncompleted loans

Issued during year

1923.

Liabilities

Unmatured Shares.
First term,

3%; second term, 3%.

Matured and Paid-up Share
First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

Certificates.

2J4%; second term, 2J4%.

series less

than 4 years old;

after 4

Bates and Averages on Loans.
359 real estate loans (average, $2,744.96 each; average rate, 6%): 6%, $2,632,420.53.
235 share loans (average, $327.93 each; average rate, 6%): 6%, $77,063.50.
5 loans on matured share certificates: 6%, $2,025.
4 loans on paid-up share certificates: 6%, $2,400.

Total Expenses for Year.

Amount

paid for

Cost per $1,000

.

of assets

Salaries.

Rent.

$5,955.00
2.16

$996.53
).53

$184.80

.36

.07

Advertising.

Other Expenses.

$4,590.89
1.67

Total.

11,727.22

4.26

SANDWICH — SANDWICH CO-OPERATIVE BANK.
<Other authorized locations for receipt of moneys: Falmouth National Bank, Falmouth: office
of C. M. Chase, Hyannis; office of L. A. Law, Provincetown.)
Incorporated October

Jerome R. Holway,

1,

1885.

Began business December

President.

15, 1885.

Fletcher Clark,

Treasurer.

Board of Directors: E. S. Clark, Fletcher Clark,* E. W. Haines, J. R. Holway,* E. S. S. Keith
Kelleher,* L. a. Law, J. W. Liberty, W. E. R. Nye, A. R. Pope, O. L. Small, E. S. Talbot.'
Regular meetings for receipt of moneys the third Tuesday of each month.
* Security Committee.

T F

P.D.

132

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares

Common

form mortgages

Real estate by foreclosure, etc

Unpaid

interest

....

Insurance and taxes paid

Cash

1923.

Liabilities

Dues capital
Profits capital

$753,900 00
11,200 00
680 00
260 75
2,520 53
119 98
70,205 77

$578,735
148,211
70,800
2,042
15,352
21,013
2,350
381

.

Matured share

certificates

Forfeited share account

.

Guaranty fund
Surplus

Due on uncompleted
Personal accounts

loans

.

$838,887 03

....

Membership.
Added during year
Withdrawn during year
Members

3,443
1,223

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates

00
97
84
32

00
41

$838,887 03

Shares
Issued during year

Withdrawn during year

GO
49

73
222
12,176
4,251
354

269
97

.....
.....

Borrowers

1,419

515

Profits Distributed.
First term,

Unmatured Shares.
3^%; second term, 3}^%.

Matured Share
First term,

2%%;

Certificates.
second term, 2J^%.

Proportion of profits retained on voluntary withdrawals, 10%.

Rates and Averages on Loans.
A90

each; average rate, 6.93%): 5%, $24,100; 5J^%, $150; 5}4%,
$48,650; 5%%, $8,450; 6%, $195,700; 6M%, $23,750; 6J^%, $75,850; 6M%, $15,350; 7%, $56,800;
7M%, $25,650; 73^%, $64,800; 7%%, $36,150; 8%, $.54,850; 8^%, $30,000; 8}^%, $41,100; 8M%,
$18,150; 9%, $12,750; 9^%, $6,600; 93^%, $6,200; 9%%, $4,.300; 10%, $4,550.
S9 share loans (average, $386.20 each; average rate, 7.55%) 53^%, $1,100; 5%%, $300; 6%, $2,550;
6M%, $50; 6J^%, $700; 7%, $200; 7}^%, $450; 7^%, $150; 8%, $650; 8M%, $1,050; 8H%,
$600; 8%%, $650; 9%, $8.50; 9M%, $650; 9H%, $650; 10%, $600.
real estate loans (average, $1,538.57

:

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

Advertising.

Other Expenses.

Total.

$2,039.00

$100.00

$57.00

$250.26

$2,446.26:

2.43

.12

.07

.30

2.92

SAUGUS — SAUGUS CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: Town Hall, Saugus; Office of F. H.Griswold,
Winter Street, East Saugus.)
Incorporated March 31, 1911.

Thomas

Began business

May

10, 1911.

Horace

P. Parsons, President.

C. Ramsdell, Treasurer.

Allen,* J. G. Bryer, G. A. Burnham, H. W. Dyer, G. I. Hull, G. L. Little^
W. L. C. Niles, K. L. Norris, H. A. Parker,* T. P. Parsons, H. A. B. Peckham, J. A. Raddin.
Ramsdell,
H.
Stocker,* John Walkey, D. B. Willis.*
H. C.
C.

Board

of Directors: J. B.

Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Unpaid interest
Personal accounts

Cash

.

$5,000 00

1

1923.

P.D.

8,

133

Part III.
Membership.

Shares.
Issued during year

2,112

.

Withdrawn during year

1,021
5

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

153
6,151

Added during year
Withdrawn during year
.

Borrowers

.

.

.

143
597
150

.

Profits Distributed.

1,978

123

50

238

....

Members

Unmatured Shakes.
First term,

2%%;

second term,

Matured Share
Second term, 2M%-

2%%.

Certificates.

Paid-up Share Certificates.
2M%; second term, 2J^%.

First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

series less

than 2 years old; after 2 years,

Rates and Averages on Loans.
1S4 real estate loans (average, $2,079.62 each; average rate, 5.99%): 5J^%, $2,200; 6%, $276,475.
SO share loans (average, $508.16 each; average rate, 6%): 6%, $15,245.

Total Expenses for Year.
Salaries.

Amount

$475.00
1.55

paid for
Cost per $1,000 of assets

Rent.

Advertising.

$192.00

$112.82

.62

.37

Other Expenses.

$709.27
2.32

Total.

$1,489.09
4,86

SHARON — SHARON CO-OPERATIVE BANK.
Incorporated January
J.

EvELETH Griffith,

19, 1912.

Began business February

12, 1912.

George Hall,

President.

Treasurer.

Board of Directors: F. V. Brittain,* W. B. Brigham, W. E. Clark, A. W. Curtis, J. A. Cushman, G. A.
Dennett,* J. P. Eaton, J. R. Gillespie,* H. F. Nelson,* R. L. Pollard, F. A. Prince, T. F. Quinn,*
J. J. Rafter, G. A. Stetson, Rudolf Stolab, J. S. Stbesanger, F. M. Wattendohf, Nathaniel

Wheeler, A. E. Wright.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Liabilities.

Assets,

Bonds and notes
Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Cash

....

$6,400 00
201,330 00
6,162 00

200 00
240 21
7,735 59

$222,067 80

1923.

134

P.D.

8,

Part III.

Rates and Averages on Loans.
83 real estate loans (average, $2,425.66 each; average rate, 5.987o):
S8 share loans (average, $220 each; average rate, 6%): 6%, $6,162.

5^%,

$7,500; 6%, $193,830.

Total Expenses for Year.

Amount

paid for

.

Cost per $1,000 of assets

Salaries.

Rent.

$450.00
2.03

$143.38

$83.25

.65

.37

Advertising.

Other Expenses.

$465.59
2.09

Total.

^,142.22
5.14

SHIRLEY — SHIRLEY CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: Residence of Walter G. Phelps, Littleton;
Office of D. Chester Parsons, Ayer.)
Incorporated December 27, 1907.

D. Chester Parsons,

Began business January

1,

1908.

Frederick H. Fowler, Treasurer.

President.

Board of Directors: A. L. Annis, G. F. Buxton, Michael Cotter, J. W. Desmond, A. G. Dunn, A. E.
Felch, F. H. Fowler,* Frank Gregory, E. N. Livermore,* H. H. Lynch, T. F. Mullen, D. C.
Parsons, J. T. Smith, J. M. Stevenson.*
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense account
Temporary expense account
Cash

....

Liabilities.

$89,800
2,670
80
92
6,342

00
00
00
22
81

$9a,98S 03

1923.

P.D.

8,

135

Part III.

SOMERVILLE — CENTRAL CO-OPERATIVE BANK.

(Other authorized location for receipt of moneys: 44 Union Square, Somerville.)
Incorporated January 15, 1915.

Charles E. Mongan,

Began business February

1915.

1,

John M. McCarthy,

President.

Treasurer.

Board of Directors: O. H. Belding, J. H. Brine, J. W. Campbell, W. E. Cotter,* M. H. Dewire, J. A.
Donovan, J. H. Kelley, T. F. Kennefick, M. T. Kennedy,* J. E. Locatelli,* J. F. McCarthy,*
J. J. McCarthy, J. M. McCarthy, M. H. McGuire, C. E. Mongan, D. B. Mtjlcahey, J. J. Murphy,
C. E. Powers, J. P. Phillips, F. F. Rogers, M. J. Ryan, W. J. Shanahan, F. B. Smith, T. F.
Tracy,* M. W. White.
Regular meetings for receipt of moneys the fourth

Monday

month.

of each

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

1923,

Liabilities

Assets.

Dues

$.321,250 00

Loans on real estate
Loans on shares
Permanent expense account
Cash

....

$294,015 00
52,688 99
4,600 00
11 00
3,237 60
1,600 49
107 50
3 00

capital
Profits capital

22,405 00
373 00
12,235 58

.

Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus

.

.

Dividends on paid-up shares
Application fee

$356,263 58

$356,263 58

....
....

Membership.
Added during year
Withdrawn during year
Members

Shares.

Issued during year
Withdrawn during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates

1,572
1,032
6,654
2,340

127

....
.

100
708
163

.

Borrowers

.

.

.

.

23
Profits Distributed.

Unmatured Shares.
1%6%

First term, 15/i6%; second term,

;

third term,

l%e%; fourth term, 15^6%Paid-up Share Certificates.

,

First term, 1}4%; second term, 1}^%; third term,

1M%;

fourth term,

1H%-

Proportion of profits retained on voluntary withdrawals, 25% on series under 6 years old; 20% on series
from 6 to 7 years old; 15% on series from 7 to 8 years old; 10% on series from 8 to 9 years old; 5%
on series after 9 years old.

Rates and Averages on Loans.
105 real estate loans (average, $3,059.52 each; average rate, 5.99%): 5J^%, $23,550; 6%, $297,700.
67 share loans (average, $393.07 each; average rate, 5.99%): 5i4%, $30; 6%, $22,375.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

.

Salaries.

Rent.

Advertising.

$1,147.00
3.22

$723.18
2.03

$27.00

Other Expenses.

.08

$490 85
1.38
.

Total.

$2,388.03
6.71

SOMERVILLE — SOMERVILLE CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: Commonwealth- Atlantic National Bank, 41
Bedford Street, Boston.)
Incorporated
J.

Frank Wellington,

May

4,

1880.

Began business June

Etta

7,

1880.

Daniel

President.

S.

Farnum,

Treasurer.

F. Smith, Assistant Treasurer.

of Directors: F. C. Aybr,* E. A. Binney, A. W. Blake, E. J. Cambridge, E. P. Carr, O. W. Codding, D. S. Farnum, T. H. Locke, Thomas Miller, L. A. Penney,* J. S. Pike, S. T. Richards,
C. A. Slager,* F. W. K. Smith, I. B. Walker,* J. F. Wellington, B. T. Williston.

Board

Regular meetings for receipt of moneys the
* Security

first

Committee.

Monday

of each

month.

136

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

1923.

P.D.

8,

137

Part III.
Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

7,847
3,943

57
614
26,854
9,933

782
730

P.D.

138

8,

Part III.

.....
....
......
Membership.

Issued during year

18,698
5,637
74
2,270
38,794
15,212
3,610

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

269

Added during year
Withdrawn during year
Members
Borrowers

.

.

.

.

.

.

1,581

728
3,404

879

Profits Distributed.

Unmatured Shares and Matured Share Certificates.

Krst term, 1M%; second term, 1J^%; third term,
1J4%; fourth term, 1?^%.
Paid-up Share Certificates.
134%; third term,

First term, 1}4%', second term,

1M%;

fourth term, 1}4%-

Proportion of profits retained on voluntary withdrawals, 25% on series less than 6 years old;
series from 6 to 9 years old; after 9 years, none.

12J^% on

Rates and Averages on Loans.
$3,586.30 each; average rate, 6.36%): 5%, $10,000; 5^%, $161,350; 6%,
$386,025; 6^%, $2,060,625.
165 share loans (average, $347.64 each; average rate, 6.43%): 6%, $8,015; 6M%, $49,345.
5 loans on matured share certificates: 6)^%, $4,590.
1 loan on paid-up share certificates: 6J^%, $230.

7S0 real

estate loans (average,

Total Expenses for Tear.
Rent.

Salaries.

Amount paid

for

.

Cost per $1,000 of assets

$10,625.50
3.93

Advertising.

Other Expenses.

$1,640.37 $4,179.52
1.55
.61

$3,349.60
1.24

Total.

$19,794.99
7.33

SOUTHBRIDGE — SOUTHBRIDGE CO-OPERATIVE BANK.
Incorporated March
J.

Anatolb Caron,

8,

1910.

Began business April

7,

1910.

E. D. Desrosier, Treasurer.

President.

Directors: H. U. Bail,* J. L. Berthiaume, F. A. Bouvier, C. A. Chapman, J. B. Demers,*
A. L. Desaulniers,* E. D. Desrosier, Antoine Duplessis, W. P. Gendreau, Ronaldo GuilMETTE, Victor Laperle, H. B. Montague, Elzebert Ouellette, H. J. Tetreault, V. P. Tetreault.

Board of

Regular meetings for receipt of moneys the

first

Thursday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Temporary expense account

.....

Security committee

Cash

$362,225

1923.

P.D.

8,

Part III.

139
Rates and Averages on Loans.

H9

real estate loans (average, $2,431.04 each; average rate, 6%): 6%, $362,225.
73/ sAareZoaws (average, $166.64 each; average rate, 6%) 6%, $21,830.
1 loan on matured share certificates: 6%, $250.
/ loan on paid-up share certificates: 6%, $160.
;

Total Expenses for Year.
Salaries.

Amount paid

for

.

Cost per $1,000 of assets

Rent.

-

$683.30
1.73

Advertising.

Other Expenses.

Total.

$99.62

$322.61

$1,105.53

.25

.81

2.79

SPRINGFIELD — HAMPDEN CO-OPERATIVE BANK.
Incorporated July 21, 1919.

Henry W. Lloyd,

Began business September

3,

1919.

Harry R. King,

President.

Treasurer.

Board of Directors: Frank Attchteh, B. Bearg, C. L. Beckwith, H. A. Bellows,* E. E. Bohner, B. L.
Bragg, Jr., F. C. Brigham, R. S. Clark, C. E. Day, A. E. Emerson, T. H. Flemming, Jr., L. P.
Fletcher, H. Fritz, G. Haas, M. B. Howard,* J. R. Hunt, H. R. King, H. W. Lloyd,* G. E. Mayer,
T. K. McAllister, E. L. McCracken,* T. E. Morris, E. S. Munson, F. W. Noeris, R. S.,
Redfield, J. C. Sanburn, W. K. Tuohet, T. W. Walsh.
Regular meetings for receipt of moneys the

first

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense
Temporary expense
Cash
.

Liabilities.

$183,100 00
6,140 00

200 OQ
354 40
10,871 35

$200,665 75

1923.

140

SPRINGFIELD

— HIGHLAND

P.D.

8,

Part III.

CO-OPERATIVE BANK.

(Other authorized locations for receipt of moneys: 164 Main Street, Indian Orchard; 12Pynchon
Street, Springfield.)

Incorporated June

12, 1920.

Began business July

6,

1920.

Herman

W.\LTEB L. Spaulding, President.

C. Heiden, Treasurer.

Board of Directors: R. R. Aggas, C. M. Bugbee, H. W. Butterfield, E. W. Carman, J. W. Crane,*
W. H. Daggett, B. E. Dibble, H. I. Dumas, C. H. Gardner, W. W. Gumble, H. C. Heiden,* C. R.
Hutchinson, W. K. Kaynor, J. R. Morrissey, J. S. Nelson, J. H. Pabadis, J. D. Pond, C. L.
Richards, Carlos Ruggles, Jr., W. J. Schlatter,* A. O. Sinclair, W. L. Spaulding.
Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense
Temporary expense
Cash

Liabilities.

$85,950
6,125
604
270
9,743

00
00
58
20
36

$102,693 14

1923.

P.D.

8,

Part III.

.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates

Common

form mortgages
Unpaid interest
Unpaid fines
Overs and shorts
Cash

....
.

.

Liabilities
$1.5,000 00

2,491,675 00
68,235 00
1,490 00

925 00
1,400 00
7,107 22
764 54
26 05
48,166 88

Dues

capital
Profits capital
.

Matured share
Paid-up share

certificates
certificates

Forfeited share account

.

Guaranty fund
Surplus

Due on uncompleted
Personal accounts

loans

.

Dividends on matured share
cates

Dividends on paid-up share
cates

$2,634,789 69

141
1923.

142

P.D.

8,

Part III.

143
Rates and Averages on Loans.

real estate loans (average, $1,676.49 each; average rate, 6%): 6%, $752,745.
37 share loans (average, $314.73 each; average rate, 6%): 6%, $11,645.

J^.1^9

Total Expenses for Tear.
Rent.

Salaries.

Amount

paid for

.

Cost per $1,000 of

.

assets

$3,763.83
4.72

Other Expenses.

Advertising.

$150.00

$89.68

$599.53

.18

.11

.75

Total.

$4,603.04
5.76

SWAMPSCOTT — SWAMPSCOTT CO-OPERATIVE BANK.
Incorporated July 21, 1920.

Reuben H. Mitchell,

Began business September

1,

1920.

Joshua Mills, Treasurer.

President.

Board of Directors: C. B. Anderson, H. S. Baldwin, P. E. Bessom,* J. H. Blizard, H. A. Cahoon, J. M.
Caunt, H. L. Doyle, William Dunbar, S. L. Fisher, H. K. Gardiner, Loring Grimes, C. B.
Humphrey, H. M. Kellby, J. W. Libby, H. D. Linscott, Joshua Mills,* R. H. Mitchell, S. M.
Moran, D. F. Nugent, O. G. Poor, D. B. H. Power, C. E. Rolfe, Joseph Shmishkiss,* C. F. Smith,
J. L. Taylor,* J. M. Thomson, C. G. Woodbridge.*
Regular meetings for receipt of moneys the

first

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense
Temporary expense
Cash

$161,350 00

1923.

P.D.

144

TAUNTON — EAST TAUNTON CO-OPERATIVE BANK.

Part III.

8,

(Other authorized locations for receipt of moneys: O'Keefe & O'Keefe, 39 Crocker Building;
Harrison K. Dean, Taunton Cotton Mills, East Taunton.)
Incorporated November

Ahthub E. Robbins,
Board

Began business November

12, 1909.

15, 1909.

Albert H. Chace,

President.

Treasurer.

C. R. Barstow,* A. H'. Chace, E. M. S. Chandler,* P. H. Corr, H. K. Dean,*
J. C. Hart, C. E. O'Gara, C. D. Pierce, A. E. Robbins, J. T. Sherry,
Whitters, G. R. Williams, C. E. Wood.

of Directors:

Luther Dean, E. W. Hart,

J.

P.

Regular meetings for receipt of moneys the

first

Monday on

or after the fifteenth of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...
...

Assets.

Dues capital
Profits capital

$211,100 00
3,580 00
1,209 75

Loans on real estate
Loans on shares
Unpaid interest
Cash

$131,608 00
23,210 34
62,000 00
4,111 16
6,254 86

Matured share certificates
Guaranty fund

1.3,999 61

.

Surplus

Due on uncompleted

loans

1,000 00

....

Dividends on matured share
cates

certifi-

1,705 GO

$229,889 36

$229,889 36

Shares.
Issued during year

Membership.
Added during year
Withdrawn during year
Members

60
299

Borrowers

112

65

....
....
.

.

Withdrawn during year
Matured during year

700
82
3,175
1,172

Shares in force
Shares now pledged

Matured shares represented by

1923.

Liabilities

certificates

Profits Distributed.

310

Unmatured Shares and Matured Share
First term,

2%%;

cates.
second term,

Certifi-

2^%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
average rate, 6%): 7%, $400; 6%, $210,700.
6 share loans (average, $596.67 each; "average rate, 6%): 6%, $3,580.

106 real

estate loans (average, $1,991.51 each;

Total Expenses for Year:
Salaries.

Amount

$700.00
3.19

paid for
Cost per $1,000 of assets
.

Rent.

Advertising.

-

Other Expenses.

$30.00

$128.09

.13

.55

Total.

$858.09
3.87

TAUNTON — MECHANICS' CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: 3 Taylor Building; Taunton Post Office,
for employees only.)
Incorporated September

Herbert

O.

Woolley,

14, 1877.

Began business September

17, 1877.

Arthur R. Knox,

President.

Treasurer.

J. B. Ayers, F. W. Boynton, F. G. Burt, H. H. Culver, N. A. Cushman,* P. F.
Francis, J. M. Hardy,* A. H. Knowles, A. R. Knox, F. R. Knox,* W. A. Rayment, L. J. Schmidt,
W. L. Tidd, J. S. Williams, H. O. Woolley.

Board of Directors:

Regular meetings for receipt of moneys the Wednesday after the
month.
* Security

Committee.

first

Monday

after the fifteenth of each

P

D

145

8 Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Permanent expense
Temporary expense
Insurance and taxes paid
.

.

_

Cash

.

....

Building account

.

_

.

$10,486 80

1

1923.

146
Shares.

P.D.

8,

Part

III.

147

TAUNTON — WEIR CO-OPERATIVE BANK.

(Other authorized location for receipt of moneys: District Court Building, Court Street,
Taunton.)
Incorporated July

Arthur

11, 1884.

Began business July

16, 1884.

Kenneth

C. Staples, President.

E. Leonard, Treasurer.

Board of Directors: H. D. Atwell, H. L. Blood,* Harry Carlow, R. W. Chase, Randall Dean, J. M.
Fitzgerald,* G. W. Grigor, A. R. Leonard, K. E. Leonard, J. A. McDonald, C. S. Parker, H. H,
Pbesbrey, J. A. QuiGLEY, A. C. Staples,* E. A. Tetlow, J. G. Williams, H. S. Wood.
Regular meetings for receipt of moneys the sixteenth of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Loans on real estate
Loans on shares
Temporary expense
Cash

$1,003,650
15,500
2,164
17,873

00
00

Dues capital
Profits capital

93
20

Matured share
Paid-up

S598,545
103,952
262,200
28,200

00
72

12,101
17,212
111
2

59

00
00
16,333 23

certificates
share certificates

Guaranty fund
Surplus
Interest

Fines
Transfer fees
Application fees

Due on foreclosure

12

76
25
118 GO
15 38
396 08

Suspense
sales

$1,039,188 13

$1,039,188 13

Membership.

Shares.
Issued during year

1923.

Liabilities

Added during year
Withdrawn during year
Members

3,924
2,345

.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

13,894
5,560
1,311
141

193
139

....
....
.

659

Borrowers

1,222

505

Profits Distributed.

Unmatured Shares and Matured Share CertifiFirst term,

2M%;

cates.
second term,

2M%.

Paid-up Share Certificates.
First term, 23^%; second term, 23-^%.
Proportion of profits retained on voluntary withdrawals, none.

Bates and Averages on Loans.
471 real

estate loans (average,

$2,130.89
0.89 each; average rate, 5.81%): 5.:
5.3%, $176,400; 51^%, $152,500; 6%,

$674,750.

47 share loans (average, $329.80 each; average

rate, 5.96%): 5.3%, $500;

S14%, $500; 6%, $14,500.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

$3,148.37
3.03

Advertising.

$120.00

$44.25

.12

.04

Other Expenses.

Total.

$2,263.40
2.18

$5,576.02

5.37

TISBURY — MARTHA'S VINEYARD CO-OPERATIVE BANK.
Incorporated April 22, 1909.

Henry

Began business

Board of

Directors: E.

Mayhew, U.

E.

May

14, 1909.

Roy W. Norton,

L. Peakes, President.

Treasurer.

D. Bodfish, L. E. Briggs, A. O. Fischer, S. C. Luce, Jr., W. G. Manter,* O. S.
L. Peakes, W. H. Renear,* W. A. Robinson, G. L.

Mayhew,* R. W. Norton, H.

Smith.

Regular meetings for receipt of moneys the second Wednesday of each month.
* Security

Committee.

P.D.

148

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

$186,495 00
4,960 00
12,053 35

Loans on real estate
Loans on shares
'
Cash
.

Liabilities.

.

$204,108 35

Shaxes.
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

580
451
45
2,839
1,136

95
120

1923.

P.D.

8,

149

Part III.
Rates and Averages on Loans.

459 real estate loans (average, $2,022.11 each; average rate, 5.27%): 5%, $411,300; 5M%, $516,850.
93 share loans (average, $280.10 each; average rate, 5.47%): 5%, $1,500; 5^%, $24,550.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

.

Salaries.

Rent.

$2,875.00
2.97

$50.00

$323.50

.05

.33

Advertising.

Other Expenaes.

$1,204.76
1.24

Total.

84,453.26
4.59

WALPOLE — WALPOLE CO-OPERATIVE BANK.
Incorporated June

11, 1912.

Began business June

14, 1912.

A. Dionne, Treasurer.

John B. Roonet,

President.

Board

C. E. Barrett, R. K. Bullard, C. W. Bunker, H. W. Caldwell, O. J. A. Dionne,
C. B. Gove,* Julius Guild, C. E. Hartshorn, M.
A. Whiting.*

oj Directors:

E.
J.

Otis

J.

W. Everett, N. W. Fisher, O. J. Fisher,*
Hawkins, W. H. Maguirb, J. B. Rooney, H.

Regular meetings for receipt of moneys the second Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

...

Assets.

Loans on real estate
Loans on shares
Temporary expense
Cash
.

$270,050 00
8,430 00
11 79
16,290 77

.

Dues capital
Profits capital

Paid-up share certificates
Guaranty fund
Surplus
Interest

Fines

....

Withdrawal
$294,782 56

Shares.

1923.

Liabilities

profits

$225,337
55,218
8,200
2,048

00
84

00
69

1,131 22

2,788 72

45 00
13 09
$294,782 56

P.D.

150

WALTHAM — WALTHAM CO-OPERATIVE BANK.
(Other authorized location for receipt of moneys: 229
Incorporated October

Moody

Began business October

13, 1880.

Part III.

Street.)

20, 1880.

Earl

En-n-ARD P. Smith, President.

8,

F. Caswell, Treasurer.

Board of Directors: H. A. Bacon, W. P. Bartel, A. S. Batchelder, G. M. Bates, F. H. Bent, John
Berrio, E. H. Bull,* E. F. Caswell, J. E. Cobb, T. I. Curtin, C. W. Durgin, G. A. Fiel, E. L.
FoLSOM, C. F. French, W. N. Fuller, F. P. Havens, W. E. Peterson, E. P. Smith,* J. L. Totten.*
Regular meetings for receipt

of

moneys the

third

Thursday

each month.

of

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
Permanent expense
Insurance and taxes paid

Cash

Dues capital
Profits capital

$4,400,182 50
85,795 00
12,890 00

Paid-up

.

Guaranty fund

50 00

Surplus
Bills payable

517 37
100 00
30,028 96

.

484,734 83
950,600 00
444,400 00
346 13
56,616 73
53,178 34
60,000 00
69,975 00

certificates
share certificates

Forfeited share account

7,079 16
17,702 83

....

2,416,618 00

.

Matured share

905 00

.

Personal accounts

1923.

Liabilities

Due on uncompleted

loans

1,500 00
11,644 29
5,637 50

Fire insurance

Dividends on matured shares
Dividends on paid-up shares

$4,666,260 82

$4,665,260 82

Membership.
Added during year
Withdrawn during year
Members

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

20,925
13,241
84

1,557

.

802

....
.

Borrowers

1,606
56,109
23,653
4,753
2,222

.

.

6,302
1,829

.

Profits Distributed.

Unmatured Shares.
First term, 1?^%; second term,

1%6%;

1J|%; third term,

fourth term, VA«7o-

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
1}4%; fourth term, 1M%.

First term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
1,653 real estate loans (average, $2,661.94 each; average rate, 5.98%): 5%, $101,700; 6%, $4,298,482.50.
454 share loans (average, $188.98 each; average rate, 6%): 5%, $250; 6%, $85,545.
31 loans on matured share certificates: 5%, $45; 6%, $12,845.
7 loans on paid-up share certificates: 6%, $905.

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$13,221.39

2.90

Advertising.

Other Expenses.

$2,317.42 $1,119.11

1,072.56

.25

1.99

.51

Total.

$25,730.48
5.65

WALTHAM — WATCH CITY CO-OPERATIVE BANK.
Incorporated March 25, 1914.

Anthony

J.

Doherty,

Began business April

6,

1914.

Paul

President.

L. Flynn, Treasurer.

Board of Directors: M. P. Collins,* T. E. Deehan, A. J. Doherty, J. J. Fahey, E. F. Flannery,* T. J.
Flannery, J. J. Flynn, P. L. Flynn, J. J. Harold, F. J. Kelly, P. H. Kelly, J. P. Morrissey,*
C. L. Reade, J. A. Saunders, W. E. Sawyer,* P. H. Sheridan, Matthew Sullivan, D. J. Tracey,
T. A. Tracey.*
Regular meetings for receipt of moneys the third Thursday of each month.
* Security

Committee.

P.D.

8,

151

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

1923.

P.D.

152

8,

Part III.

Rates and Averages on Loans.
72 real estate loans (average, $2,654.16 each; average rate, 6%): 6%, $191,100.
54 share loans (average, $177.22 each; average rate, 6%): 6%, $9,570.
i loan on paid-up ^hare certificates: 6%, $1,000.

Total Expenses for Year.
Salaries.

Amount

paid for

Rent.

Advertising.

Other Expenses.

-

$400.00

.

1.91

Cost per $1,000 of assets

$507.66
2.43

Total.

$907.66
4.34

WAREHAM — WAREHAM CO-OPERATIVE BANK.
Incorporated

James T. Hennessy,

May

1,

1918.

Began business June

1,

1918.

Edward

President.

C. Bodfish, Treasurer.

Board of Directors: F. E. Barrows, J. J. Beaton, E. C. Bodfish,* T. M. Crocker, J. L. Eldridge, C. S.
Gleason, Abthuk Griffin, I. C. Hammond, J. T. Hennessy,* George Lang, F. M. Laechar, J. C.

Makepeace, C. B. Morse,

J.

W. Whitcomb.*

Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Temporary expense
Cash

Liabilities.

$82,050 00
1,803 00
"43 87
2,497 70

$86,394 57

1923.

P.D.

8,

153

Part III.

WATERTOWN — WATERTOWN CO-OPERATIVE BANK.

(Other authorized location for receipt of moneys: 591 Mt. Auburn Street, East Watertown.)
Incorporated June 23, 188S.

Charles E. Fay,
Board

Began business June

28, 1888.

Ulysses

President.

Chables Brigham,

oj Directors:

Condon,

P. P.

F.

Fish, A. A. Glidden, Andrew Hawes,* W. H. Lucas,*
F. D. Tarlton, J. F. Tufts, U. S. Young.

W.

S.

Young,

Treasurer.

D. Evans, C. E. Fay, P. L.
L. Mayo, W. P. McGuire, H. W. Otis,

E, Critchett,*

J.

Regular meetings for receipt of moneys the last Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
.

Paid-up

certificates
share certificates

Surplus
Fines
Bills

profits

payable

Due on uncompleted

loans

Application fees

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

Membership.

Shares.

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

.

.

.

.

.

48
00
00
00

$5,550,508 95

$5,550,508 95

Withdrawn during year
Matured during year

24
80

54,868
782
880
100,000
56,200
339

Interest

Withdrawal

00
00

61
18,737 64

Guaranty fund

4,049 23
75,134 72

18

633,417
968,400
648,200
47,794

Matured share

GO
.5,2.30 00
47,000 00
9,.500 00
6,.535

.....

3,120,889 00

Dues capital
Profits capital

>5,272,900 00
130,160 00

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certi6cates
Banking house
Permanent expense
Temporary expense
Cash

Issued during year

1923.

Liabilities

Assets.

Added during year
Withdrawn during year
Members

28,100
12,105

....
....
.

1,955

Borrowers

74,005
31,046
4,842
2,741

.

1.548

588
5,330
1,654

Profits Distributed.

Unmatured Shares.
First term, iyi6%; second term, iyi6%; third term,

1^16%: fourth term, iyi6%.

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
1M%: fourth term, 1M%-

First term,

Proportion of profits retained on voluntary withdrawals,
none.

20% on

series less

than 5 years old; after 5 years,

Rates and Averages on Loans.
$3,929.14 each; average rate, 6%); 6%, $5,272,900.
Jf91 share loans (average, $265.09 each; average rate, 6%): 6%, $130,160.
19 loans on matured share certificates: 6%, $6,-535.
11 loans on paid-up share certificates: 6%, $5,230.

l,3/f2 real estate loans (average,

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets
.

.

$15,171.44
2.73

Advertising.

$2,204.28 $1,832.08
.40

Other Expenses.

Total.

$10,302..53

$29,510.33

.33

WEBSTER — WEBSTER CO-OPERATIVE BANK.
(Other authorized locations for receipt of moneys: First National Bank, Webster; W. C. Lewis,
Southbridge.)
Incorporated August

George

2,

1889.

Began business August

F. Habt, President.

8,

1889.

C.

M. Nash,

Treasurer,

Board of Directors: James Brennan, H. J. Clarke, J. W. Dobbie, G. F.Hart,* R. W. Homan, W. H.
King, August Klsro, W. C. Klebart, C. W. Kosmaler, J. P. Love,* Henry Merrett, James
McGeary, H. B. Montague, C. M. Nash, L. E. Pattison,* A. N. Racicot, Ike Shea, H. H. Sternberg.

Regular meetings for receipt of moneys the second Thursday of each month.
* Security

Committee.

154

P.D.

Part III.

8,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Temporary expense
Cash

1923.

Liabilities

$15,000
659,615
8,185
722
24,084

Dues

00
00
00

.

Matured share

79
81

certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Premiums
Withdrawal profits
Due on uncompleted loans
Over and short

157
3,266
22

$707,607 60

$707,607 60

Membership.
Added during year
Withdrawn during year
Members

Shares.
2,333

.

Withdrawn during year
Matured during year

187
111

....
....
.

997
257

Shares in force
Shares now pledged
Matured shares represented by certificates

84

87
93
02
90
36
27
00
59

500
98

Fines

Issued during year

00
82
00

$514,391
99,781
54,000
515
15,453
9,316
10,103

capital
Profits capital

Borrowers

11,737
3,626

1,093

272

Profits Distributed.

270

Unmatured Shares.
First term,

3%; second term, 3%.

Matured Share
First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

Certificates.

2}4%; second term, 2J^%.

series less

than 5 years old; after 5 years,

Rates and Averages on Loans.
264 real estate loans (average, $2,498.55 each; average rate, 6.3%): 6.3%, $659,615.
34 share loaris (average, $240.73 each; average rate, 6.2%): 6.3%, $7,985; 6%, $200.

Total Expenses for Tear.

Amount

paid for
Cost per $1,000 of assets
.

.

Salaries.

Rent.

$1,575.03
2.22

$200.04

$24.50

$666 85

2,466.42

.28

.03

.94

3.77

Advertising.

Other Expenses.

Total.

.

WELLESLEY — WELLESLEY CO-OPERATIVE BANK.
Incorporated January 24, 1911.

George N. Smith,

Began business January

25, 1911.

Orrin E. Stevens,

President.

Treasurer.

H. P. Bell,* F. T. Donlon, P. J. Fitzpatrick, B. W. Guernsey, E. T. Madden,*
G. M. Nay, H. L. Peabody, T. R. Pierce, G. N. Smith,* H. P. Smith,* Isaac Sprague, Jr., M. C.
Spring, O. E. Stevens,* G. A. Sweetser.

Board

of Directors:

Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share
Temporary expense
Cash
.

.

$154 68
1,307,200 00
22,315 00
certificates

1923.

Liabilities

500 00
1,103 55

34,639 80

Dues capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

payable

Due on uncompleted
$1,366,913 03

Security Committee.

00
56
00
00
29
54
25
55

420 38

Fines
Bills

$831,293
155,772
241,600
48,200
4,080
11,212
2,706
15,983

loans

25,000 00
29,644 46

$1,365,913 03

P.D.

8,

155

Part III.
Membership.

Shares,
Issued during year

Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

518
248

Added during year
Withdrawn during year
Members

9,600
2,986

.

Withdrawn during year

52

Borrowers

1,082

22,935
7,574

.

.

.

.

1,634

.

.

.

.

419

Profits Distributed.

Unmatured Shares.
second term, VA%; third term,
1}4%; fourth term, 1H%.

1,208

241

m%;

First term,

Mattjred Share Certificates.
First term, iys%; second term, l^fo) third term,

iys%; fourth term.

1^%.

Paid-up Share Certificates.
First term, 1M%; second term, 1H%\ third term,
114%; fourth term, 1M%.
Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
434 real estate loans (average, $3,011.98 each; average rate, 6^%): 6H%, $1,900; 63^%, $1,305,300.
100 share loans (average, $223.15 each; average rate, 6H%): 6J^%, $22,315.
1 loan on matured share certificates: 63^%, $500.

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets

.

.

Salaries.

Rent.

Other Expenses.

Total.

$2,750.00
2.01

$483.47

$105.30

$1,260.69

$4,599.46

.36

.08

.92

3.37

Advertising.

WESTFIELD — WESTFIELD CO-OPERATIVE BANK.
Incorporated December

Sumner

13, 1881.

Began business December

19, 1881.

James H. Clark, Treasurer.

B. Campbell, President.

Board of Directors: S. B. Campbell,* R. T. Carrier, J. H. Clark,* C. H. Cooley, Jr., T. J. Coolet,
H. S. Eaton, F. N. Gibbons, H. W. Kittredge, J. O. McKean, H. S. Miller, A. G. Norton, O. E.
Parks, G. E. Shepard, Jr.,* D. A. Snow, F. E. Tibbals.
Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share .certificates
Loans on paid-up share certificates
Unpaid interest
Permanent expense
Temporary expense
.

.

Personal accounts

.

Overs and shorts

.

_

.

$40,000 00
1,345,970 00
51,981 00
1,820 00

725 00
6,192 50

400 00
1,935 03
175 00
59 31
4,681 05

Cash

Dues

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

5,582
3,028
10

542

.

Matured share
Paid-up

certificates
share certificates

Matured share account
Guaranty fund
Surplus
Interest

Fines

Withdrawal profits
Due on uncompleted loans

$1,453,938 89

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

Membership.
Added during year
Withdrawn during year
Members
Borrowers

19,767
8,398

972
685

00
56
00
00
28
37
33
77
489 91
233 67
15,494 00

$868,947
150,108
194,400
137,000
602
30,971
29,797
25,894

capital
Profits capital

$1,453,938 89

.

1923.

Liabilities

Assets.

706

Profits Distributed.
First term,

Unmatured Shares.
2^%; second term, 2*^%.

Matured and Paid-up Share
First term,

2M%;

Proportion of profits retained on voluntary withdrawals,
* Security

364
290
1,718

Committee.

Certificates.
second term, 2J^%.

25%

of last dividend.

156

P.D.
Rates and Averages on Loans.

8,

Part III.

581

'real estate loans (average, $2,316.66 each; average rate, 6%): 6%, SI, 345,970.
309 share loans (average, .$168.25 each; average rate, 6%); 6%, $51,981.
S loans on matured share certificates: 6%, 81,820.
3 loans on paid-up share certificates: 6%, $725.

Total Expenses for Year.

Amount

paid for

.

Salaries.

Rent.

$4,8-48.30

$333.27

$153.40

3.33

.23

.11

Cost per $1,000 of assets

Advertising.

Other Expenses.

Total.

$1,500.51
1.03

$6,835.48
4.70

WEST SPRINGFIELD — WEST SPRINGFIELD CO-OPERATIVE BANK.
Incorporated April

Willis

J.

8,

1897.

Began business

May

12, 1897.

Wilson B. Chandler,

Eldeed, President.

Treasurer.

Board of Directors: M. L. Brown, J. M. Carroll, W. B. Chandler, C. D. Clark,* H. W. Egan, W. J.
Eldred, G. a. Hill, J. F. McCarthy,* J. W. Mead, W. H. Pierce, A. F. Royce,* F. P. Sargent,
F. O. Scott, E. L. Stoughton, R. D. Toomey.
Regular meetings for receipt of moneys the second Wednesday of each month,

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
Permanent expense
Cash

....

.....

1923.

Liabilities
,197,5.50

25,250
3,330
1,090
2,875

00
00
00
00

Dues capital
Profits capital

17

Forfeited share account

00
45
00
00
00
49
17,251 25
10,000 00
20,950 00

$707,770
123,344
229,600
123,400
102
17,719

.

Matured share
Paid-up

certificates
share certificates
.

Guaranty fund

395 46
729 59
23,329 47

Surplus
Bills payable

Due on uncompleted

loans

Dividends on matured share
cates
cates

certifi-

2,870 00

....

Dividends on paid-up share

certifi-

1,542 50

$1,254,549 69

$1,254,549 69

Membership.
Added during year
Withdrawn during year
Members

Shares.
Issued during year
Withdrawn during year
Matured during year
.

Shares in force
Shares now pledged

Matured shares represented by certificates
Paid-up shares represented by certificates

5,403
3,201
677
17,107
7,379
1,148

340
294

....
....
.

.

Borrowers

1,534

602

Profits Distributed.

617

Unmatured Shares and Matured and Paid-up
Share Certificates.
First term,

1M%;

1J^%; second term, 134%; third term,

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans.
$2,385.56 each; average rate, 5.98%); 5%, $20,100;
136 share loans (average, $185.66 each; average rate, 6%): 6%, $25,250.
4 loans on matured share certificates: 6%, .$3,330.
3 loans on paid-up share certificates: 6%, $1,090.

'503 real estate loans (average,

%, $1,177,450.

Total Expenses for Year.
Salaries.

Amount paid
Cost

for
per $1,000 of assets
.

.

$5,510.01
4.39
* Security

Rent.

$910.17

Committee.

Advertising.

$237.80
.19

Other Expenses.

$3,299.61

Total.

$9,957.59
7.18

P.D.

8,

Part III.

WEYMOUTH — NORTH WEYMOUTH CO-OPERATIVE BANK.

(Other authorized locations for receipt of moneys: 729 Broad Street, East
19 Lincohi Street, North Weymouth.)
Incorporated September 26, 1910.

George A. Walker,

Began business October

1,

Weymouth;

1910.

Edwin R. Sampson,

President.

157

Treasurer.

Board of Directors: A. H. Alden,* A. W. Baetlett, T. R. Blanchahd, J. W. Colgan, W. P. Denbhoeder,
P. J. Derrig, S. G. Dunbar,* W. A. Hodges, J. P. Holbrook, W. J. Holbrook, E. R. Sampson, W. T.
Seabury, F. H. Torrey, J. H. Tower, G. A. Walker, R. H. Whiting,* W. H. Wilde, R. S. Wilder.
Regular meetings for the receipt of moneys the

first

Saturday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Permanent expense
Cash

$1,000 00

1923.

P.D.

158

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest
Unpaid fines
Cash

$2,000 00

certificates

....
.....

1923.

P.D.

8,

Part III.

159
Membership.

Shares.
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
.

2,692
1,032

588
12,556
5,062

708

P.D.

160

8,

Part III.

Rates and Averages on Loans.
1,142 real estate loans (average, $2,157.40 each; average rate, 6.3^) 6.3%,
139 share loa7is (average, $255 each; average rate, 6.3%) 6.3%, $35,445.
3 loans on matured share certificates: 6.3%, $2,885.

2,463,750.

:

:

Total Expenses for Year.

Amount

paid for
Cost per $1,000 of assets
.

.

Salaries.

Rent.

Advertising.

Other Expenses.

Total.

$6,694.07

$450.00

$452.17

$2,472.89

2.58

.17

.17

.95

$10,069.13
3.87

WINCHENDON — WINCHENDON CO-OPERATIVE BANK.
Incorporated September

9,

1891.

Silas A. Greenwood, President.

Began business September

16, 1891.

Austin R. Paull,

Jr.,

Treasurer.

Board of Directors: Peblet Aldrich, H. O. Bateman, Robert Callahan,* L. W. Davis, H. H. Elliott,
R. B. Greenwood,* J. G. Henry, W. E. Hold en, Alexander Orr, F. H. Parker, W. H. Pritchard,
HoNOBE Richer, A. M. Rotse, T. C. Sparhawk,* A. S. Washburn, S. E. White.
Regular meetings for receipt of moneys the third Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Permanent expense
Temporary expense
Cash

$317,888 84

1923.

P.D.

8,

Part III.

161

WINCHESTER — WINCHESTER CO-OPERATIVE BANK.
Incorporated November 13, 1893.

Howard D. Nash,

Began business November

President.

13, 1893.

Ebnest R. Eustis,

Treasurer.

Board of Directors: W. T. Cableton, John Challis, E. R. Eustis, Vincent Farnsworth, G. A. Fbrnald
J. J. Fitzgerald,* C. A. Glbason,* A. H. Hildreth, Jambs Hinds, Raymond Mbrbill, C. C Miller'
H. D. Nash,* S. E. Newman, F. J. O'Hara, S. S. Symmes.*
Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,

.....

Assets.

....

Loans on real estate
Loans on shares
Loans on matured share
Cash

.

.

certificates

.

.

1923.

Liabilities.

$1,481,750
33,470
1 10
40,807

00
00
00

Dues capital
Profits capital

21

Paid-up

.

.

.

$1,031,975 00

.

Matured share

certificates
share certificates

....

Forfeited share account

Guaranty fund
Surplus

.

.

.

.

.

Due on uncompleted loans
Dividends on paid-up share
cates

.....
.....

Dividends on matured share
cates

.

certificertifi-

$1,556,137 21

Shares.
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

4,543
2,526

553
21,028

Membership.
Added during year
Withdrawn during year
Members
.

.

Borrowers

8,510

706
541

....

.

.

.

.

Profits Distributed.

Unmatured Shares, Matured and Paid-up Share
Certificates.
First term,

2}^%; second term, 2}4%.

P.D.

162

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share
Banking house
Temporary expense
Cash

.

.

certificates

.....

$15,000 00
00
00
00
00

1,915,500
59,075
2,540
19,000
1,443

46

46,771 68

$^,059,330 14

Shares.
Issued during year

....
Liabilities

.

Withdrawn during year
Forfeited during year
Matured during year
Shares in force

Shares now pledged

Matured shares represented by certificates
Paid-up shares represented by certificates

7,087
4,749
25

615
30,080
11,837
1,843

270

Dues

capital

1923.

p.

D. 8,Part

163

III.

Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
, Paid-up shares represented by certificates

Added during year
Withdrawn during year
Members

9,409
4,419

.

645

....
....
.

45

Borrowers

1,114

40,442
17,119

269
4,191
1,473

Profits Distributed.
Unmatured Shakes.
1}4%] second term, 1J^%; third term,
13^%; fourth term, 1J^%.

1,850
1,321

First term,

Matured and Paid-up Share Certificates.
1M%; second term, 1M%; third term,
IM; fourth term, 1M%.

First term,

Proportion of profits retained on voluntary withdrawals,
none.

20% on

series less

than 5 years old; after 5 years,

Rates and Averages on Loans.
1,S94 real estate loans (average, $2,301.70 each; average rate, 6.3%) 6.3%, $2,978,400.
271 share loans (average, $233.21 each; average rate, 6.3%): 6.3%, $63,200.
1 loan on matured share certificates: 6.3%, $320.
1 loan on paid-up share certificates: 6.3%, $170.
:

Total Expenses for Year.
Rent.

Salaries.

Amount paid for
Cost per $1,000 of assets
.

Other Expenses.

Advertising.

Total.

$8,090.92

$944.25

$350.00

$2,804.97

$12,190.14

2.62

.30

.11

.91

3.94

WORCESTER — EQUITY CO-OPERATIVE BANK.
Incorporated February

George W. Brooks,

9,

1887.

Began business March

17, 1887.

George

President.

O. Bridges, Treasurer.

Board of Directors: Harry Ballard, Henry Brannon,* G. O. Bridges,* G. W. Brooks, Albert Erik.son,
G. F. Hall, J. J. Higgins,* E. P. Ingraham, Urgel Jacques,* J. J. Kittredgb, James Montgomery]
H. A. Mower, William Tolley, N. G. Williams.
Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Temporary expense

?50,470 50
2,007,800 00
66,200 00

300 00
5,507 86
1,810 97
85,000 00
44,295 55

.....

Certificates of deposit

Cash

Dues

capital
Profits capital

$1,578,386
306,155
203,200
31,800
60
47,630
56,269
27,890
891

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

1

Withdrawal profits
Due on uncompleted loans
Forfeited profits
Due on foreclosure sales

1,129
7,900

20
49

.

$2,261,384 88

.

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
,

00
13

00
00
00
75
95
75
59
50
41
00
30
50

$2,261,384 88

Membership.

Shares.
Issued during year

1923.

Liabilities

7,802
4,373
34

867
33,297
11,669
1,016
159

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

Added during year
Withdrawn during year
Members
.

Borrowers

.

.

'

.

.

527
397
2,828
'817

Profits Distributed.

Unmatured Shares.
First term,

2M%;

second term, 2H%Matured and Paid-up Share Certificates.
First term, 2M%; second term, 2^%.

Proportion of profits retained on voluntary withdrawals, one-half of last dividend.
* Security Committee.

P.D.

164

8,

Part III.

Rates and Averages on Loans.

estate loans {average, %2,872.3S each: average rate, 5.92%): 5%, S24,900; 5^%, $18,600; 5M%,
Slo.SOO; oVs'^c, $10,400; 53-^%, $213,5.50; 55,^^, SSOO; 5M%, $2,400; 5J^%, $3,000; 6%, $1,713,150;
6H%. $2,350; 6M%, $250; 6}^%, $1,400; 7%, $1,200.
JSrs/iore/oons (average, $336.04 each; average rate, 5.99%): 5^%, $1,300: 6%, $64,900.
2 loans on matured share certificates: 6%, $300.

699 real

Total Expenses for Year.
Rent.

Salaries.

Amount

paid for
Cost per $1,000 of assets

$3,346.69
r.48

.

.

Advertising.

Other Expenses.

$765.79

$147.69

$1,230.68

.34

.07

.54

Total.

$5,490.85
2.43

WORCESTER — HOME CO-OPERATIVE BANK.
Incorporated June
Edw-'^.rd p.

Board

10, 1882.

Began business June

16, 1882.

George

Ingraham, President.

O. Bridges, Tresaurer.

Bean, Henry Brannon,* G. O. Bridges,* G. W. Brooks, William Forsberg,
HiGGiNS,* E. P. Ingrah.^m, Urgel Jacques,* James Montgomery, W. H. Towne, J. H. Turner,

of Directors: A. J.

J. J.

M. Woodward.

C. C. Winn, E.

Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates

Common

form mortgages

Temporary

e-xpense
Certificates of deposit

Cash

.....

$74,721
1,947,700
38,800
3,850

50
1,224
2,726
30,000
2,765

89
00
00
00
00
00
92
00
92

Dues capital
Profits capital
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus

24

00
00
0§
58
12

85
89
1 60
1,455 29
10,750 00
906 17

Interest

Fines
Transfer fees

$2,101,838 73

$2,101,838 73

.....
......
Membership.

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
.

00

$1,444,809
260,324
209,200
24,600
83
46,398
58,226
43,758
1,325

.

Matured share

Withdrawal profits
Due on uncompleted loans
Due on foreclosure sales

.

1923.

Liabilities

Assets.

Added during year
Withdrawn during year
Members

8,410
4,551
14
1,201

Borrowers

31,285
11,158

.

.

.

.

653
411
2,707

806

Profits Distributed.

1,046

Unmatured Shares.

123

First term,

2%%\

second term,

2%%.

Matured and Paid-up Share
First term,

2H%;

Certificates.
second term, 23^%.

Proportion of profits retained on voluntary withdrawals, one-half of last dividend.

Rates and Averages on Loans.
$2,766.62 each; average rate, 5.92%): 5%, $18,700; 5^%, $750; 53i%,
$23,900; 5M%, $16,600; 53^%, $212,950; 55^%, $10,000; 5M%, $800; 6J^%, $2,000; 6%, $1,657,100;
63^%, $1, .500; 634%, $1,400; 6^%, $2,000.
161 share loans (average, $240.99 each; average_ rate, 5.99%): 53^%, $500; 6%, $38,300.
5 loans on matured share certificates: 6%, $3,850.
1 loan on paid-up share certificates: 6%, $50.

70A real

estate loans (average,

Total Expenses for Tear.
Salaries.

Amount paid
Cost

for
per S1,000 of assets
.

S3,325.71
1.58
* Security

Rent.

Advertising.

Other Expenses.

$765.82

$139.45

$1,231.60

.36

.07

.59

Committee.

Total.

$5,462.58
2.60

P.D.

8,

165

Part III.

WORCESTER — INDEPENDENT CO-OPERATIVE BANK.
Incorporated

May

8,

1911.

Began business

May

31, 1911.

Harry

Louis H. Buckley, President.

C. Robinson, Treasurer.

Board of Directors: W. H. Balcom, L. H. Buckley, M. E. Costello, M. W. Donahue, J. L. Haerop,*
G. C. Hunt, Christian Nelson,* G. A. Olin, J. J. Power,* A. F. Richardson, H. C. Robinson,
H. A. Rousseau, D. A. Scott.
Regular meetings for receipt of moneys the last Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Loans on real estate
Loans on shares
Cash

Dues capital
Profits capital

$318,200 00
19,248 00
4,427 33

$254,129
50,702
10,000
17,800
3,014
4,229
2,000

.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus

Due on uncompleted

loans

00
18

00
00
29
86
00

$341,875 33

$341,875 33

Membership.

Shares.
Issued during year

1923.

Liabilities

Added during year
Withdrawn during year
Members

1,736

.

Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates

183

....
....
.

679
74

Borrowers

5,574
2,055
50

558
157

Profits Distributed.

Unmatured Shares and Paid-up Share CertieiFirst term,

1M%;

1M%;

cates.
second term,

1M%;

third term,

1M%-

fourth term,

Matured Share
1M%.

Certificates.

First term,

Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Rates and Averagres on Loans.
10? real estate loans (average, $3,119.61 each; average rate, 6%): 6%, $318,200.
55 share loans (average, $349.96 each; average rate, 6%): 6%, $19,248.

Total Expenses for Year.
Rent.

Salaries.

Amount paid

for

.

Cost per $1,000 of assets

$1,260.00
3.68

$509.00
1.49

Advertising.

Other Expenses.

$81.38
.24

$497.07
1.45

Total.

12,347.45

6.86

WORCESTER — WORCESTER CO-OPERATIVE BANK.
Incorporated October

Henry Brannon,

19, 1877.

Began business October

19, 1877.

George

President.

O. Bridges, Treasurer.

Board of Directors: David Armitagb, A. J. Bean, A. L. Bemis, Henry Brannon,* G. O. Bridges,* G. W.
Brooks, Earle Brown, E. P. Fitzgerald, William Forsberg, J. J. Higgins,* E. P. Ingraham,
Urgel Jacques,* W. H. Towne, W. A. Winn, E. M. Woodward.
Regular meetings for receipt of moneys the fourth Tuesday of each month.
* Security

Committee.

166

p.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Assets.

Bonds and notes
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Permanent expense
Temporary expense

Bank buildina; account
Certificates of deposit
Cash

.

S45,505

1923.

P.D.

8,

Part III.
742
176
22
16
2,4S8
759
67

.

167

....

Membership.
Added during year
Withdrawn during year
Members

Shares.
Issued during year
Withdrawn during year
Retired during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates

59

.....
.....

Borrowers

28
274
78

Profits Distributed.

Unmatured Shares.
23^%; second term, 3%.

First term,

Matured Share

Certificates.

2}^%; second term,

First term,

2M%.

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans.
69 real estate loans (average, $1,788.05 each; average rate, 6%) 6%, .1123,376.
9 share loans (average, $702.77 each; average rate, 6%): 6%, $6,325.
:

Total Expenses for Year.
Rent.

Salaries.
'

Amount paid
Cost

.

Other Expenses.

Advertising.

-

$400.00
2.94

for
per $1,000 of assets

-

Total.

$435.91
3.20

$35.91
.26

YARMOUTH — CAPE COD CO-OPERATIVE BANK.
Incorporated July
F.

Howard Hinckley,

Jr.,

19, 1921.

Began business August

4,

1921.

Gorham

President.

Pulsifbr, Treasurer.

Board of Directors: C. R. Bassett, J. H. Clark,* T. S. Ckowell, H. J. D.widson, T. T. Hallett,* R. H.
Heeler, F. H. Hinckley, Jr.,* C. R. Howes, R. M. Kelley, Thomas Otis, Gorham Pulsipee,
H. B. Ryder, C. W. Swift, F. C. Swift, T. W. Swift.
Regular meetings for receipt of moneys the

first

Thursday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF THE OCTOBER BUSINESS,
Loans on real estate
Loans on shares
Cash

1923.

Liabilities

Assets.

$50,450 00
659 00
5,819 90

Dues

$46,815 00
2,548 58
5,400 00
229 00
159 96
208 86
1,500 00

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus

Due on uncompleted

loans

.....

Dividends on paid-up share
cates

certifi

67 50

$56,928 00

$56,928 90

Shares.
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates
.

658
131

38
2,299

Membership.
Added during year
Withdrawn during year
Members

68
29
305

....
....
.

Borrowers

325
27

32

Profits Distributed.

Unmatured Shares.
First term,

m%;

1M%;

second term,

fourth term,

1M%;

third term,

1^%.

Paid-up Share Certificates.
Second term, 1M%; third term, 1M%; fourth term,

1M%.
Proportion of profits retained on voluntary withdrawals,

25%

for first 5 years; after 5 years, none.

Rates and Averages on Loans.
36

average rate, 7%o): 7%,, $50,450.
6 share loans (average, $109.83 each; average rate, 7%): 7%, $659.
real estate loans (average, $1,940.38 each;

Total Expenses for Year.
Salaries.

Amount paid

for

.

Cost per $1,000 of assets

$215.00
3.84

Rent.-

-

Security Committee.

Advertising.

$12.50
.22

Other Expenses.

$188.68
3.37

Total.

$416.18
7.13

P.D.

168

8,

Part III.

STATEMENTS OF CERTAIN SAYINGS AND LOAN ASSOCIATIONS.
Subject to the Supekvision of the Commissioner of Banks under the
Provisions of General Laws, Chapter 93, Section 34.

ATTLEBORO — ATTLEBOROUGH SAVINGS AND LOAN ASSOCIATION.
Established January, 1876.

Frank W. Weaver,

Began business January, 1876.

Caleb Slade, Treasurer and

President.

Secretary.

Babcock, M. L. Carter, H. E. Clap,* A. M. Dunham,! Joseph Finberg, A. A. FRENCH.f
C. S. HoLDEN, R. M. HoRTON.t A. S. It^graham, H. p. Kent,* W. L. King,* W. J. Luther, H. K.
RicHARDsoN,t F. W. Weaver,* Oscar Wolfenden.

Directors: F.

I.

Regular monthly meeting, fixed by by-laws, third

Monday

STATEMENT OF CONDITION, OCTOBER
Assets.

....
....

,118,549 88
83,324 00
15,400 00

Loans secured by pledge of shares
Loans secured by other collateral
Real estate owned by the associa'
tion
Real estate sold, deeds not passed
Real estate by foreclosure

92,113
5,818
1,709
2,632
2,976
1,493

LTnpaid dues
Temporary expense
Real estate expense
.

Taxes

in

Bank

stock

86
14

00
00
89
14

1,861 62
50,000 00
63,472 55
7 70

.

Liberty Loan Bonds
Deposited in banks
Income tax refund

Cash

31,

month.

1923.

Liabilities.

Loans secured by mortgages upon
real estate

of each

hands of treasurer

493 11
6,730 00

.

2,824 matured shares at $.500 each
shares, ser: es 35 at $476.10 each
shares, ser es 36 at $429.77 each
shares, ser es 37 at $385.64 each
shares, ser; es 38 at $343.59 each
shares, ser es 39 at $303.58 each
171 shares, ser: es 40 at $265.46 each
274 shares, ser es 41 at .$229.16 each
295 shares, seri es 42 at $194. .57 each
161 shares, ser; es43 at $161.64 each
302 shares, seri es 44 at $130.30 each
621 shares, ser es 45 at $100.51 each
637 shares, ser; es 46 at $72.27 each
162 shares, .ser: es 47 at $58.71 each
442 shares, ser es 48 at $45.51 each
171 shares, sen es 49 at $32.67 each
774 shares, series 50 at
D.17 each
222 shares, series 51 at
00 each

204
229
170
249
271

Dues paid in advance
Construction loans
Interest

Rents

.

Guaranty fund
Fines
Surplus fund
Cancelled shares
Rent from safe deposit boxes

Suspense

.

.

Miscellaneous

....

......

57
58
00
00
00
45
00
38
57
61

50
75
470 43

65

1,357

$96,000
776
5%, 514%, 6%

.

^y%%
5J^%
$8,067.85
1,029

.

442
153

.

or Building Committee.

71

99
02
42

127

.

Loan

15

04
60

549

'.

*

80
91
18
66
84

1,044

Largest loan to any one person
Number of borrowers (on share loans 109), total
Rates of interest charged to borrowers
Rate of dividend declared on matured shares
Rate of dividend declared on unmatured shares
Amount paid for salaries during the year
.'
Number of shares issued during the year
Number of shares withdrawn during the year
during
the
year
Number of shares matured
New series are issued January and July of each year.
Required monthly dues upon each share
.

40
33

.

of shareholders of unmatured shares
Largest number of unmatured shares held by any one member
Number of holders of matured shares
Largest number of matured shares held by any one person
Total number of members holding either matured or unmatured shares
.

97,124
98,417
65,558
85,553
82,270
45,393
62,789
57,398
26,024
39,350
62,416
46,035
9,511
20,115
5,586
15,611
1,776
2,036
5,350
43,571
3,288
125,364
10
29,396
4,077
82

,446,581 89

$2,446,581 89

Number

,412,000 00

$2.00
t Auditors.

P.D.

8,

Part III.

NORTON — NORTON SAVINGS AND LOAN ASSOCIATION.
Established 1890.

Austin M. Sweet,
Directors: G. B.

Began business

George

President.

1890.

B. Clements, Treasurer and Secretary.

Clemens, J. A. Freemant,! C. H. Makepeace,*+ G. H. O Brien,* G. F. Sawyer, A. T.
Sturdy, A. M. Sweet, A. G. Walker, W. C. S. Wood.

Regular monthly meeting for receipt of moneys the third

STATEMENT OF CONDITION, OCTOBER
Assets.

......
.....

Loans secured by mortgages on
estate

169

real

Loans secured by pledge of shares
Real estate owned by the association
Real estate sold by agreement
.

Temporary expense
Unpaid dues

Real estate expense
Deposited in banks or trust companies

S131,683

Monday

31,

of each

1923.

month.

P.D.

170

STATEMENT OF CONDITION OCTOBER
Assets.

....

Loans secured by mortgages upon
real estate

.

Loans secured by pledge of shares
Loans secured by other collateral
Real estate owned by the association
Unpaid dues
Unpaid interest
Unpaid rents
Furniture and fixtures
Liberty Loan Bonds
Deposited in banks or trust com
.

panics

Cash

in

hands

of treasurer

$287,558
8,195

317

10,

1923.

8,

Part III.

P.D.

8,

171

Part III.

GENERAL INDEX.
PAGE
Co-operative Banks, Abstracts of Annual Reports
Co-operative Banks, Alphabetically by Corporate Name
Co-operative Banks, General Remarks
Co-operative Banks, Legislation
Co-operative Banks, Tables of Statistics
Credit Unions, General Remarks
Credit Unions, Recommendations
Others than Banks, General Remarks
Savings and Loan Associations, Abstracts of Annual Reports
Savings Banks, General Remarks
Trust Companies, General Remarks

1

.

171
ii

.

iv

.

168

.

Index to the Annual Reports.
[Alphabetically by Corporate

Name.]

CO-OPERATIVE BANKS.
CORPORATE NAME.
Acushnet Co-operative Bank
Adams Co-operative Bank
Aldenville Co-operative Bank
Amesbury Co-operative Bank
Andrew Square Co-operative Bank
Arlington Co-operative Bank
Athol Co-operative Bank
Atlantic Co-operative Bank
Attleborough Co-operative Bank
Auburndale Co-operative Bank
Avon Co-operative Bank
Back Bay Co-operative Bank
Baldwinville Co-operative Bank
Bellevue Co-operative Bank
Beverly Co-operative Bank
B. F. Butler Co-operative Bank
Boston Co-operative Bank
Braintree Co-operative Bank
Bridgewater Co-operative Bank
Brighton Co-operative Bank
Brookline Co-operative Bank
Business Men's Co-operative Bank
Cambridge Co-operative Bank
Campello Co-operative Bank
Canton Co-operative Bank
Cape Cod Co-operative Bank
Central Co-operative Bank
Central Square Co-operative Bank
Chair-Town Co-operative Bank
Charlestown Co-operative Bank
Chelsea Co-operative Bank
Chicopee Co-operative Bank
Citizens' Co-operative Bank
City Co-operative Bank
Clinton Co-operative Bank
Codman Co-operative Bank
Columbian Co-operative Bank
Concord Co-operative Bank
.

.

.

.

.

.

.

.

LOCATION.

New

Bedford

Adams

.

Chicopee

Amesbury
Boston

.

Arlington

Athol

.

Lawrence
Attleboro

Newton
Avon
Boston

.

Baldwinville

Boston
Beverly
Lowell

Boston

.

.

.

Braintree

Bridgewater
Boston
Brookline
Boston
.

.

Cambridge
Brockton

Canton

.

Yarmouth
Somerville

Cambridge
Gardner
Boston
.

Chelsea
Chicopee
Haverhill
.

Holyoke
Clinton

.

Boston
Cambridge
Concord
.

112
2
61
2
8
3
4

9b
4
115
5
9
6
10
7

94
11

47
48
11
51
12

53
49
58
167
135
54
78
13

58
61
84
87
62
14

54
65

172

P.D.

CORPORATE NAME.
Coolidge Corner Co-operative Bank
Danvers Co-operative Bank
Dean Co-operative Bank
Dedham Co-operative Bank
Dorchester Co-operative Bank
Dudley Co-operative Bank
East Bridgewater Co-operative Biank
Easthampton Co-operative Bank
East Taunton Co-operative Bank
Economy Co-operative Bank
Edward Everett Co-operative Bank
Enterprise Co-operative Bank
Equitable Co-operative Bank
Equity Co-operative Bank
Eureka Co-operative Bank
Everett Co-operative Bank
Fall River Co-operative Bank
Faneuil Co-operative Bank
Farragut Co-operative Bank
Federal Co-operative Bank
Fellsway Co-operative Bank
Fidelity Co-operative Bank
Fitchburg Co-operative Bank
Forest Hills Co-operative Bank
Foxborough Co-operative Bank
Framingham Co-operative Bank
Gardner Co-operative Bank
Germania Co-operative Bank
Gloucester Co-operative Bank
Grafton Co-operative Bank
Greenfield Co-operative Bank
Groveland Co-operative Bank
Guardian Co-operative Bank
Hampden Co-operative Bank
Harvard Co-operative Bank
Haverhill Co-operative Bank
Henry Wilson Co-operative Bank
Highland Co-operative Bank
Highland Co-operative Bank
Hillside Co-operative Bank
Hingham Co-operative Bank
Holbrook Co-operative Bank
Holyoke Co-operative Bank
Home Co-operative Bank
Homestead Co-operative Bank
Housatonic Co-operative Bank
Hudson Co-operative Bank
Hyde Park Co-operative Bank
Independent Co-operative Bank
Inman Co-operative Bank
Ipswich Co-operative Bank
Jamaica Plain Co-operative Bank
Joseph Warren Co-operative Bank
Lafayette Co-operative Bank
Lawrence Co-operative Bank
Leominster Co-operative Bank
Lexington Co-operative Bank
Lincoln Co-operative Bank
Lowell Co-operative Bank
Lynn Co-operative Bank
Maiden Co-operative Bank
Mansfield Co-operative Bank
Marblehead Co-operative Bank
Marlborough Co-operative Bank
Martha's Vineyard Co-operative Bank
Massachusetts Co-operative Bank
Mattapan Co-operative Bank
Mechanics' Co-operative Bank
Medfield Co-operative Bank
Medford Co-operative Bank
Medway Co-operative Bank
Meeting House Hill Co-operative Bank
Melrose Co-operative Bank
Merchants' Co-operative Bank
Merrimack Co-operative Bank
Methuen Co-operative Bank
.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

LOCATION.

Brookline

Danvers
Franklin

Dedham
Boston
Boston
East Bridgewater
.

.

Easthampton
Taunton
Merrimac
Boston
Boston

.

.

Lynn
Worcester
Boston
Everett
Fall River
Boston
Boston
Boston
.

.

.

.

.

Maiden

.

Fitchburg
Fitchburg

Boston
Foxborough
.

Framingham
Gardner
Boston

.

Gloucester
Grafton
Greenfield

Groveland
Boston
.

Springfield

Boston

.

Haverhill

Natick
Boston

.

.

Springfield

Medford

Hingham
Holbrook
Holyoke
Worcester
Boston
Great Barrington
.

Hudson
Boston
Worcester
.

Cambridge
Ipswich
Boston
Boston

.

.

Fall River

Lawrence
Leominster
Lexington

Lynn
Lowell

Lynn
Maiden

.

.

Mansfield

Marblehead
Marlborough
Tisbury
Boston
Boston

.

.

Taunton
Medfield

Medford

Medway
Boston
Melrose
Boston
Lawrence
.

.

Methuen

8,

Part III.

P.D.

8,

Part

III.

173

COKPOKATE NAME.
Metropolitan Co-operative Bank
Middleborough Co-operative Bank
Middlesex Co-operative Bank
Milford Co-operative Bank
Milton Co-operative Bank
Minot Co-operative Bank
Montello Co-operative Bank
Mt. Washington Co-operative Bank
Mutual Co-operative Bank
Needham Co-operative Bank
New Bedford Co-operative Bank
Newburyport Co-operative Bank
Newton Co-operative Bank
Newton South Co-operative Bank
Noddle Island Co-operative Bank
Nonantum Co-operative Bank
North Abington Co-operative Bank
Northampton Co-operative Bank
North Cambridge Co-operative Bank
North Dighton Co-operative Bank
North Dorchester Co-operative Bank
North Easton Co-operative Bank
North Weymouth Co-operative Bank
Norwood Co-operative Bank
Old Colony Co-operative Bank
Orange Co-operative Bank
Peabody Co-operative Bank
People's Co-operative Bank
Pilgrim Co-operative Bank .
Pioneer Co-operative Bank
Pittsfield Co-operative Bank
Plymouth Co-operative Bank
Provident Co-operative Bank
Quincy Co-operative Bank
Randolph Co-operative Bank
Reading Co-operative Bank
Real Estate Co-operative Bank
Reliance Co-operative Bank
Revere Co-operative Bank
Rockland Co-operative Bank
Roger Conant Co-operative Bank
Roslindale Co-operative Bank
Roxbury Co-operative Bank
Salem Co-operative Bank
Sandwich Co-operative Bank
Saugus Co-operative Bank
Security Co-operative Bank
Sharon Co-operative Bank
Shawmut Co-operative Bank
Ship Builders Co-operative Bank
Shirley Co-operative Bank
Somerville Co-operative Bank
South Boston Co-operative Bank
Southbridge Co-operative Bank
South End Co-operative Bank
South Middlesex Co-operative Bank
South Shore Co-operative Bank
South Weymouth Co-operative Bank
Springfield Co-operative Bank
Stoneham Co-operative Bank
Stoughton Co-operative Bank
Suffolk Co-operative Bank
Swampscott Co-operative Bank
Taunton Co-operative Bank
Trimount Co-operative Bank
Troy Co-operative Bank
Union Co-operative Bank
Union Co-operative Bank
Victory Co-operative Bank
Volunteer Co-operative Bank
Wachusett Co-operative Bank
Wakefield Co-operative Bank
Walpole Co-operative Bank
Waltham Co-operative Bank
Ware Co-operative Bank
Wareham Co-operative Bank
.

.

.

.

.

.

.

.

.

.

Boston
Middleborough
Lowell
Milford
Milton
Boston
Brockton
Boston
Leominster
.

.

.

.

.

Needham

New

Bedford

Newburyport

Newton
Newton
Boston

.

Newton
Abington

Northampton
Cambridge
Dighton
Boston
Easton

.

.

Weymouth
Norwood
Taunton
Orange
Peabody

.

.

Fall River

.

Cohasset
Boston

.

.

.

.

.

.

.

.

.

.

.

Pittsfield

Plymouth
Chelsea

.

Quincy
Randolph
Reading
Boston
Cambridge
Revere
Rockland
Salem
Boston
Boston
Salem
Sandwich
Saugus
Brockton
Sharon
Boston
Quincy
.

.

.

.

.

.

.

.

Shirley
Somerville
.

Boston
Southbridge
Boston
.

.

Framingham

Weymouth
Weymouth
Springfield

Stoneham
Stoughton
Boston
.

Swampscott
Taunton
Boston
.

Fall River

Boston

.

Pittsfield

Chelsea

.

Boston
Clinton
Wakefield
Walpole
.

.

Waltham
Ware
Wareham

P.D.

174
CORPOBATE NAME.
Watch City Co-operative Bank
Watertown Co-operative Bank
Waverley Co-operative Bank
Webster Co-operative Bank
Weir Co-operative Bank
Wellesley Co-operative Bank
Westfield Co-operative Bank
West Newton Co-operative Bank
West Roxbury Co-operative Bank
West Somer-valle Co-operative Bank
West Springfield Co-operative Bank
Whitman Co-operative Bank
Winchendon Co-operative Bank
Winchester Co-operative Bank
Winter Hill Co-operative Bank
Winthrop Co-operative Bank
Woburn Co-operative Bank
Wollaston Co-operative Bank
Worcester Co-operative Bank
Workingmen's Co-operative Bank
Wrentham Co-operative Bank
.

.

SAVINGS

AND LOAN

Attleborough Savings and Loan Association
Norton Savings and Loan Association
Plainville Savings and Loan Association
.

ASSOCIATIONS.

8,

Part III.