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Public

Document

No. 8

Cl)e CommonUiealtl) of ^a0$acf)U0ett0

ANNUAL REPORT
OF THE

Commissioner of Banks
FOR THE

Year ending October

Part

30, 1926

III

RELATING TO

CO-OPERATIVE BANKS AND SAVINGS AND
LOAN ASSOCIATIONS

Department op Banking and Insurance

Publication op this Document appboved by the Commission on Administration and Finance
500 12-'26

Order 7248

^iit

(UnmnmtmtMi of MnBB^limtttB
Office of the Commissioner of Banks,
State House, Boston, January 19, 1927.

To

the

Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General Court assembled.

The annual report
Chapter 167, section
covering the work

Commissioner of Banks, required by General Laws,
respectfully submitted herewith. The complete report
of this department and containing statements of the instituof the

9, is

tions under its supervision
heretofore at a later date.

and other

statistical

information will be submitted as

Consolidated Statement of Resources of All Institutions under Supervision of the
Commissioner of Banks, October 30, 1926}

P.D.

ii

The General Court,

8,

Part III.

two measures which are of
Chapter 351 legaUzed for investment, bonds
of certain pubhc utility corporations and Chapter 283 permitted the investment
in certain railroad equipment obligations. While the latter opened new avenues
of investment, the public utility issues offered broader opportunities and presented
more difficult problems in determining eligibihty. In consequence of this legislation there devolved upon this department the responsibility of analyzing the terms
of the indentures under which pubhc utility bonds were issued, as well as certain
features of the financial condition of the issuing corporations whose securities might
become eligible for investment, in order to determine that each issue actually
complied with the requirements of the act. In accordance with estabhshed policy,
strict construction and interpretation have been applied to every provision of this
act, one result of which was the admission to eUgibility of the bonds of companies
operating in only twenty-six states. By reason of this and other strict apphcations of the provisions of the statute, the list of bonds available for investment
is not as large as had been generally expected; but it is gratifying to note that
vital

at its previous session, enacted

importance to savings banks.

certain of the corporations are making the necessary changes in their indentures
to meet these rulings and interpretations.
The importance of this act to our savings banks is indicated by the fact that it
has made available for investment pubhc utihty bonds of issues exceeding
provision of the act, however, hmits a bank's investment in
$500,000,000.
the bonds of any such corporation to 2 per cent of its deposits and its total investments in such bonds to 15 per cent of its deposits. To October 30, 1926,
approximately $18,500,000, shghtly more than 1 per cent of the aggregate deposits, have been invested in such securities.

A

Trust Companies.
Trust company reports rendered as of October 30, 1926, showed total assets in
ah departments of $1,352,486,086, an increase during the year of more than
$71,000,000. To this increase the commercial departments contributed $6,000,000,
the savings departments $14,000,000 and the trust departments more than
$51,000,000. The trust departments merit a special word. At the present time
fifty-three trust companies are authorized to exercise fiduciary powers.
The expansion of the service of corporate trusteeship has been so rapid that during the
last ten years the assets of trust departments have increased $365,000,000 and
have reached a total of $466,000,000, comprising 35 per cent of the aggregate
assets of all trust companies.
The General Court, at its last session, enacted legislation, in the absence of
enabling provisions in the general law, authorizing three trust companies to estabUsh additional offices, two of which are located in adjoining towns. This policy
extends banking facilities to small communities where the establishment of separate institutions would be unwarranted.
During the year two new trust companies were incorporated, the Mystic Trust
Company, Medford, and the University Trust Company, Cambridge. Inquiries
have been made by officers of certain national banks with regard to converting
their institutions into trust companies, but this process, unlike that of the conversion of trust companies into national banking associations, is surrounded under
the present statutes with legal technicalities which acted as a deterrent.

Co-operative Banks.

The

rapid growth of co-operative banks has continued throughout the yea,r,
although the increase in assets is shghtly less than that of the previous year.
One important feature of their growth during the past few years has been the
rapid increase in the amount represented by matured and paid-up share certifiThere are at the present tune 93,777 members holding such certificates
cates.
representing $118,625,400, an average of $1,265 each. This amount constitutes
28.58 per cent of the total liabilities of all co-operative banks. This, in a large
measure, is the result of the sale of shares of a prior series and since some banks
do not issue such shares, in many banks the percentage of such habihties to total
liabilities is considerably in excess of the ratio mentioned.

P.D.

8,

Part III.

The demand

iii

mortgage loans has continued unabated and in some sections
has exceeded the funds accumulated, causing borrowing by many banks. At the
present time nearly $3,000,000 are being borrowed to meet apphcations for such
loans. The average amount of each real estate loan held by all co-operative banks
now stands at $3,290. A total of 31,056 new loans, averaging $4,067 each, was
for

made during the year.
The voluntary hquidation

of the

Shawsheen Co-operative Bank, Andover, was

effected during the past few months. This bank commenced business on April 1,
1924. As a result of the transfer of the offices of a large textile concern from Andover to Boston, the removal from the vicinity of many of those interested in the
bank and the unavailing efforts to interest local residents in the continuation of

the bank,

it

ceased business on

was completed on September

8,

May

7,

1926.

1926, and commenced liquidation which
All shareholders were paid in full.

Credit Unions.

Under the provisions

Chapter 171

of the General Laws, as recodified during
the last session of the Legislature, the annual reports of credit unions to this department hereafter will be made as of the last business day of December. For
this reason the figures relating to credit unions in this abstract are as of June 30,
1926, the date of the last report made to this department.
A comparison of the total assets of credit unions as of October 31, 1925, and
June 30, 1926, shows an increase of $822,300 for that period and a normal rate for
the full year.
In 1924 and again in 1925 it was recommended that the statutes governing the
operation of credit unions be revised in order that their development might be
along proper lines. This revision was accomplished by the enactment of Chapter
273 of the Acts of 1926, which has already corrected many unsatisfactory conditions and will be increasingly beneficial in the future.
Section 4 of this act entitled "Credit Union Banking Restricted," has had farreaching effect. Its provisions prohibit any person, partnership or corporation
from receiving deposits of money from members on account of shares or deposits
and loaning the same in the way and manner of a credit union. Thus many groups
which heretofore had been doing business of this nature under declarations of trust
and other agreements were forced to seek credit union charters. Since this act
became effective, 156 such groups have been granted certificates to incorporate
by the Board of Bank Incorporation, many of wiiich have completed their organization and have commenced business.
of

Private Bankers.
Individuals, partnerships and corporations licensed by this department to
engage in the business of recei^dng deposits of money for safekeeping or for the
purpose of transmitting the same to foreign countries now number thirty-one.
The outstanding development in this business during the year has been the decrease in the total amount of money transmitted to foreign countries from
$7,713,197 in 1925 to $6,571,525 in 1926. This falling off is attributable to the
operation of the laws restricting immigration and to the partial stabilization of
the ItaUan lira. As the stabilization of exchange progresses, a further decrease in
the transmission of funds abroad may be expected.

Christmas Clubs.
Christmas clubs have developed to such an extent that, for the first time since
this plan has been in operation, figures were obtained from savings banks and
trust companies showing the number of members and the amounts distributed to
them at the termination of the club year.
In ninety-nine cities and towns,

—

IV

P.D.

8,

Part III.

.

P.D.

v

Part III.

8,

CO-OPERATIVE BANKS
Organized and Commenced Business.

Feb. 10, 1926.

Millbury Co-operative Bank, Millbury.

Voluntary Liquidation.

Shawsheen Co-operative Bank, Andover.
Additional Locations authorized during the Year for the Collection of
Provisions of G. L., Chap. 170, sec. 11.

Number
Number

of

Money under

banks

6

43

approved
banks having branches

of locations

.114

Total number of
Total number of branches

Permits issued

Number

to

borrow

241

Money under

issued, 281, to 116 banks.

Provisions of G. L., Chap. 170,

sec. 16.

Total amount authorized, $8,134,500.

Legislation enacted.

Providing for the election of such officers as are necessary but not
provided for by statute; also, permitting a co-operative bank having assets

Chap. 150.

in excess of five

milHon dollars to have additional assistant treasurers.

Special Act authorizing Investment of an Additional
for Banking Purposes.

Chap.

47.

Springfield Co-operative

Sum

of

Money

in Real Estate

Bank, Springfield.

STATEMENTS EELATING TO CO-OPEEATIVE BANKS

INDEX
STATEMENT

NUMBER
1
2.

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

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

4.

Matured shares
Receipts and disbursements

5.

Operating expenses

3.

for the year

last three

years

ending October 30, 1926

6. Statistics of business
7.

Comparative exhibit
of

8.
9.

each year

of interest rates

PAGE
yi
vii
yii
viii
viii

ix

from 1916 to 1926 on outstanding loans on October 31

Comparative exhibit of dividend rates from 1915 to 1926
Rates of interest on real estate and share loans October 30, 1926
Real estate by foreclosure
Real estate by foreclosure and common-form mortgages, 1S90 to 1926

10.
11.
12. Classification of shareholders
13. Statement of shares matured since last report
14. Principal assets of banks from 1879 to 1926, inclusive
15. Principal liabilities of banks from 1879 to 1926, inclusive

.

.

.

.

.

.

.

.

x
x
xi
xii
xiii
xiii

siv
xxiv
xxvi

P.D.

STATEMENT

No.

8,

Part III.

1

Aggregate Statement of Condition of All Co-operative Banks

P.D.

8,

Part III.

vii

STATEMENT

No. 2

Comparative Profit and Loss Statements for the Last Three Years
1926

Gross Income
.

Fines

Withdrawal

1,834 14
29,349 65
72,074 14

22,889 43
73,161 42

96
06
95
49
87
1,735 27
25,373 06
96,017 68

$24,158,372 16

$20,624,354 50

$17,472,526 34

29
23
92
04

$1,318,2.53 00

$22,231,823 19

$18,940,212 02

$16,013,142 08

$4,181,667 48
1,275,287 93
14,868,175 24

$2,931,620 24
1,025,764 59
13,373,025 05

$1,997,350 56
803,369 57
11,929,135 37

$1,906,692 54

$1,609,802 14

$1,283,286 58

$1,030,023 01
876,669 53

$875,496 82
734,305 32

$718,382 72
564,903 86

$23,246,761
87,777
494,767
225,806

Interest

Premiums

profits

79
89
72
83

$19,826,203
80,878
402,322
217,064

58
34
24
81

Forfeiture profits

Transfer fees
Security committee
Miscellaneous

....

1,834 68

$16,741,147
69,987
331,239
204,462
2,562

Deductions
Current expenses
Permanent expense
Interest

on retired and matured shares

Miscellaneous

Net income

...

.

.....
.

.

Distribution of Earnings
Dividends on matured share certificates
Dividends on paid-up shares
Profits credited to shares

Balance

Of which

:

—

.....
....

Transferred to guaranty fund
Transferred to surplus

$1,684,202
66,004
18,562
157,779

STATEMENT

88
60
26
23

No. 3

Matured Shares

$1,507,141
54,292
23,237
99,471

50,294 53
13,157 62
77,679 11

P.D.

viii

STATEMENT

Part III.

No. 4

Receipts and Disbuesements for the Year ending October
Receipts

8,

30, 1926

P.D.

8,

Part III.

STATEMENT

No. 6

Statistics op Business

P.D.

STATEMENT

8,

Part III.

No. 7

Comparative Exhibit of Interest Rates from 1916 to 1926 on Outstanding
Loans on October 31 of Each Year
Percentage op Total Loans

Amount
of

Loans

Oct. 30, 1926

At 5 per cent
Between 5 and 6 per
cent
At 6 per cent
Between 6 and 6Vio
per cent
At 6'Vio per cent (5
cents premium)
Between 6Vio and 7
per cent
At 7 per cent
Between 7 and 8 per
cent
At 8 per cent
At more than S per
cent
.

.

.

.

.

.

1926 1S25

1924 1923 1922 1921 1920 1919 1918 1917 1916
1

7.55 10.16 13.53

$3,792,100 00

20.67

21,076,828 00 5.13 6.87 9.45 12.91 18.12 24.08 .30.70 36.30 40.19 40.53 40.40
263,755,009 35 64.25 65.04 63.97 62.58 58.58 52.73 48.11 40.92 33.87 29.96 29.00
2,163,980 00

31,191,648 00

.63

.57

.64

77,495,559 80 18.88 15.97 13.89
10,448,943 70 2.55 2.76 2.73

178,295 OOl
93,100 00

321,095 00

1.05

1.08

.68

.76

.72

.66

.65

.75

7.60 7.19 6.92 6.84 6.80 7.00 7.06 6.95 7.04 7.12 7.15
9,20 6.01 3.62
3.80 3.76 3.49

1.86

1.29
.17

.96
.05

1.00

.54

.21
.15

.32
.38

.31

.06
.02

.03
.01

.06
.02

.05

.13

.02

.01

.07
.04

.04
.02
.07

.07

STATEMENT

.05

.38

.08

.01

.01

No. 8

Comparative Exhibit of Dividend Rates on Serial Shares from 1915 to
1926

RATE

P.D.

8,

Part III.

xi

Comparative Exhibit of Dividend Rates on Serial Shares from 1915 to
192Q

rate

— Concluded

P.D.

STATEMENT

8,

Part III.

No. 10

Real Estate by Foreclosuee
Princi'pal

Balance as shown in statement of October, 1925, 52 estates
Acquired during the year ending October, 1926,
300 estates:
$1,115,300 00
Total loans eliminated by foreclosure
55,450 58
Interest and fines due at date of foreclosure
10,952 97
Taxes, insurance, etc., paid to date of foreclosure
32,083 71
Legal and other expenses to date of foreclosure

$178,336 86

.

.

Value

of shares credited to

$1,213,787 26
101,801 69

account

[,111,985 57

[,290,322 43

Received for 266 estates sold during year
Profits on estates sold during year

,384 83

44,053 43
,331 40

Losses on estates sold during year
Amounts charged off during year to cover depreciation or prospective loss

....

9,134 24
3,623 13

962,088 77

$328,233 66

Income and Expense
Rents, etc., received since October, 1925
Expenses and taxes paid since October, 1925

Net

deficit for

This net

$12,447 94

the year

deficit

was disposed

to profit and loss
Deficit charged to profit and loss

Income credited

Income applied
value

.

to reducing
.

.

.

Deficit applied to increasing

value

$7,610 55
20,058 49

....
....

of as follows:

book
.

.

$4,371 55

book
16,819 49
12,447 94

12,447 94

$12,447 94

Balance as shown in statement of October 30, 1926 (86 estates
assessed at $275,645)

$340,681 60

P.D.

8,

Part III.

xiii

STATEMENT

No.

11

Real Estate by Foeeclosure and Common-form Mortgages,

1890 to 1926

"^

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XXIV

P.D.

8,

Part III.

STATEMENT
Principal Assets of Co-operative

YEAR

P.D.

8,

XXV

Part III.

No. 14

Banks from 1879 to
Real Estate

by
Foreclosure

1926, inclusive

XXVI

P.D.

8,

Part III.

STATEMENT
Peincipal Liabilities of Co-opeeative

YEAR

P.D.

8,

XXVll

Part III.

No. 15

Banks from 1879 to

1926, inclusive

ABSTRACT OF ANNUAL REPORTS OF THE CO-OPERATIVE
BANKS SHOWING THEIR CONDITION AT CLOSE OF
BUSINESS OCTOBER,

1926.

ABINGTON — NORTH ABINGTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 216 Union Street, Rockland, American Trust
Company, Boston, Abington National Bank)
Incorporated March 23, 1888.

Began business April

4,

William C. Brett, President

1888

Geo. D. Witherell, Treasurer

Directors: A. W. Ames, H.
A. L. Merrill, E. H. Naylor, G.

Board of

W.
W.

Belcher, W. C. Brett, A. N. Calkins, W. C. Oilman, J. M. Hayes,*
Orcutt, J. A. Radcliffe*, A. I. Randall, A. B. Reed, F. E. Shaw*,

C. N. Tanner, G. D. Witherell.

Regular meetings for receipt of moneys the

Wednesday

first

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

6,

....

Assets

1926

Liabilities

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

$1,434,750 00
34,200 00

200 00
2,200 00
20,223 63
386 20
379 38
379 19
19,990 83

....

.....

Dues capital
Profits capital

$911,799

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share account

.

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

Guaranty fund
Surplus
Interest

Premiums

Transfer fees
Bills payable for

money borrowed
Due on uncompleted loans

Security committee

$1,512,709 23

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

Forfeited during year

Matured during year

.

.

.

.

....
—

Membership

Shares

Issued during year

Withdrawn during year

4,40,j

2,308

50
647

Shares in force
19,252
Shares now pledged
8,446
Matured shares represented by certificates
1 ,004
Paid-up shares represented by certificates
471
New series issued in January, April, July, October.

Members
Members who
Holders

of:

are borrowers

.

Unmatured shares
Matured share certificate?
Paid-up share

certificates

Profits Distributed

Unmatured Shares
First term,

1H%;

second term, lJ-^%; third term,

l)i%; fourth term, l}47oMatured and Paid-up Share
First term, l}4,%;

1M%;

second term,

fourth term,

1%%.

Certificates

1M%;

third term,

P.D.

Part IIL

8,

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

Began business March

10,

1896

Frank Hanlon, Treasurer

Fred R. Shaw, President

Board of Directors: W. T. Adams, E. H. Arnold, R. C. Bnntin, J. J. Carney*, A. M. Daniels, Hector Desautels,
A. E. Green, S. L. A. HaU*, 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 OF BUSINESS, OCTOBER
Assets

1926

13,

Liabilities

Loans on real estate
Loans on shares

Dues capital
Profits capital

$900,680 00
31,730 00
25,000 00

Certificate of deposit

Cash

$731,965
138,873
53,200
21,569
28,307
2,000

.

Matured share
Guaranty fund

19,902 15

certificates

Surplus

Due on uncompleted

loans

....

Dividends on matured share
cates

1,396 50

Membership

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

.

60
00

$977,312 15

Shares

Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
New series issued in May, November.
.

73
00
32

certifi-

$977,312 15

.

00

Members
Members who

2,770
1,742

348

Holders

of:

1,291

— are borrowers

408

....
...
.

.

.

Unmatured shares
Matured share certificates

14,574
5,000

266

1,284

48

Profits Distributed

Unmatured Shares
First term, 2"}i%; second term,

Matured Share

2%%.

Certificates

First term, 2}-^%; second term,

2%%.

Proportion of profits retained on voluntary withdrawals, 10%.

Rates and Averages on Loans

5M%,

S5Sreoies<a«e/oans (average, $2,665 each; average rate 5.96%): 5%, .S17,925;
74 share loans (average, $429 each; average rate, 6%): 6%, $31,730.

$24,665;

6%,

$858,090.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$2,650.02
2.71

$225 00

$112.42

Other
Expenses
$575.67

Total
$3,563.11

.11

.59

3.64

.

AMESBURY — AMESBURY CO-OPERATIVE BANK
Incorporated April

W. Hawkes,

William

10, 1886.

Began business

May

1,

1886

John Gibbons,

President.

Board of Directors: R. E. Briggs*, G. E.

Collins,

John Gibbons, W. W. Hawkes*, Charles

Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real e.state
Loans on shares
Unpaid interest
Cash
.

Treasurer-

Sohofield"'.

4,

1926

Liabilities

$766,200 00
19,530 00
1,929 23
25,977 09

Dues capital
Profits capital
.

Guaranty fund
Surplus

Due on uncompleted
$813,636 32

* Security Committee.

loans

$619,842 00
165,015 18
11,937 59
7,641 55
9,200 00

$813,636 32

P.D.

8,

Part III.
Shares

P.D.

4

8,

Part III.

Rates and Averages on Loans
631 real estate loans (.average, $3,853 each; average rate, 6.44%): 5%, $9,750; 5^%, $3,400;
63^%, $2,161,700.
83 share loans (average, $500 each; average rate, 6.49%); 6%, $650; 6J-^%, $40,877.
3 loans on matured share certificates: 6}/^%, $950.
2 loans on paid-up share certificates: 63^%, $800.

Total Expenses

Amount

paid for

Cost per $1,000

of assets

6%, $256,200;

P.D.

8,

Part III.

5

ATTLEBORO — ATTLEBOROUGH CO-OPERATIVE BANK
Incorporated July 18, 1892.

Began business August

Solomon B. Jacobs, President

17,

1892

Herbert F. Conant, Treasurer

Board of Directors: M. F. Ashley*, A. N. Brownell, I. H. Bruce, H. E. Carpenter, T. E. Fuller, E. D. Gilmore,
S. B. Jacobs*, Joseph Kerkhoff, J. B. Moulton, E. A. Remington, F. L. Torrey*, R. L. Torrey.
Regular meetings for the receipt of moneys the third Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Unpaid interest
Unpaid fines
Loans
Loans
Loans
Loans

20,

1926

Liabilities

$529,802
11,732
8,125
2,600
5,340

.

Temporary expense account
Insurance and taxes paid
Cash

....

00
00
00
00
00

Dues capital
Profits capital

$250,427
50,671
180,400
51,600
9,790
7,104
10,747

.

Matured share
Paid-up

certificates
share certificates

Guaranty fund

1,737 69

Surplus

84 76
920 53
135 34
12,512 87

Interest

Fines

Withdrawal
Bills

......
—
Membership

1,350

428
156
5,474
3,649

902
258

Members
Members who
Holders

of:

are borrowers

....

Unmatured shares
Matured share certificates
Paid-up share

.

certificates

Profits Distributed

Unmatured Shares
First term,

2%%;

second term,

2M%-

Matured and Paid-up Share
Fir.st

Rates and Averages on Loans
308 real estate loans (average, .Sl,720 each; average rate, 6%): 6%, $529,802.
48 share loans (average, $244 each; average rate, 6%): 6%, $11,732.
9 loans on matured share certificates: 6%, $8,125.
3 loans on paid-up share certificates: 6%, $2,600.

Total Expenses for Year
Salaries

$1,466.65
2.56

'

Certificates

term, 2>'2%; second term, 2J^%.

Proportion of profits retained on voluntary withdrawals, 25%.

.

16

79
06

$572,990 19

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
New series issued in January, July.

paid for
Cost per $1,000 of assets

69

141 58
107 91
12,000 00

profits

payable for money borrowed

$572,990 19

Amount

00
00
00

696
287
519
196
43

P.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

4,

Assets

Loans on real estate
Loana on shares
Loans on matured share

certificates

Temporary expense account
Cash

Part III.
1926

Liabilities

$170,800 00
3,635 00
400 00
93 50
5,770 94

Dues capital
Profits capital

$111,943 00
22,125 25
37,200 00
1,000 00
30 00
1,532 56
702 56
1,758 30
62 82
75
44 20
2,000 00
2,300 00

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans

Bills

»180,699 44

$180,699 44

Membership

Shares
512
267

Issued during year

Withdrawn during year
Forfeited during year
Matured during year
Shares in force

10
179
2,470

Shares now pledged

1,060

Matured shares represented by certificates
Paid-up shares rei)resented by certificates
New series issued in March, September.

Members
Members who
Holders

are borrowers

....
...

of:

Unmatured shares
Matured share certificates
Paid-up share

.

.

.

...

certificates

186

264
105
251
28
2

Profits Distributed

5

Umnatured Shares
First term,

3%; second

term,

Matured Share
First term,

2M%;

3%.

Certificates

second term,

2^%-

Paid-up Share Certificates
First term, 2}4%; second term, 2^%Proportion of profits retained on voluntary withdrawals,
none.

90

25%

on

series less

than 7 years old; after 7 yeara,

Rates and Averages on Loans
average rate, 6%): 6%, $170,800.
(average, $242 each; average rate, 6%): 6%, $3,635.

real estate loans (average, $1,897 each;

15 share loans
1 loan on matured share

certificates:

6%,

$400.

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of assets
.

$322 50
.

Rent

Advertising

P.D.

8,

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
New series issued in January, July.

600
489
4

Members
Members who

.

416

.

.

189

Unmatured shares
Matured share certificates

388

Holders

112
3,245
1,509
100
149

.

.

are borrowers

of:

—

....

Paid-up share

19

28

certificates

Profits Distributed

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

2yi%; second term, 2J^%.

series less

than 5 years old; after 5 years,

Rates and Averages on Loans

UA29 each; average rate, 6.29%): 6%,, $109,000; 63^%, $153,900.
15 share loans (average, $217 each; average rate, 6.26%): 6%, $1,550; 6>^%, $1,700.

184- real estate loans {average,

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

Salaries

Rent

$750.00
2.71

$150.00
.54

$95.00

Other
Expenses
$259.61

Total
$1,254.61

.34

.96

4.55

Advertising

BARNSTABLE — HYANNIS CO-OPERATIVE BANK
Incorporated

Thomas

March

11, 1925.

Began business April

IS,

1925
Carl B. Mayo, Treasurer

Otis, President

Directors: Louis Arenovski*, J. R. Baxter, Chester Bearse, J. C. Bearse, R. H. Bodman, E. S. Bradford*, M. G. Bradford*, John Burslev, C. M. Chase, E. T. Chase, W. B. Chase* M. H. Crocker, W. I.
FuUer*, E. C. Hinckley, J. E. Hincklev*, J. A. Holwav, J. M. Leonard, E. W. Lovell, E. F. Maher, C. B.
Mayo, P. T. Morin, J. A. Nickerson, 2d, Thomas Otis*, J. G. Sears, F. G. Thacher.

Board of

Regular meetings for receipt of moneys the

thii'd

Saturday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

16,

192S

P.D.

8,

Part III.

Rates and Averages on Loans
26 real estate loans (average, $2,924 each; average rate, 7%): 7%, $76,025.
4 share loans (average, $171 each; average rate, 7%): 7%, $684.
Total Expenses for Year
Salaries

Amount

paid for

Rent

Advertising
$164.5.5

.

1.87

Cost per $1,000 of assets

Other
Expenses
.S386.61
4 39

Total
.$551,16

6 26

.

.

BELMONT — WAVERLEY CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 53 State Street, Boston, 261 Belmont Street,
and 102 Trapelo Road, Belmont)
Incorporated April

4,

1896.

Began business April

13,

1S96
Irving F. Munroe, Treasurer

John P. BTSLdhnry, President

Board of Directors: Samuel Alcock*, W. F. Beetle, J. P. Bradbury, A. E. Corbett, J. W. Flett, G. O. Gustin,
F. H. Kendall, J. R. Logan*, G. S. Lovejoy, I. F. Munroe, F. E. Poor*, A. L. Taylor, G. L. Weymouth,
A. D. Whitcomb, U. S. Young.
Regular meetings for receipt

of

moneys the second Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

11,

1926

P.D.

Part III.

8,

9

BEVERLY — BEVERLY CO-OPERATIVE BANK
Incorporated August 25, ISSS.

Began business September

1888

18,

George P. Brown, President

Charles F. Lee, Treasurer
Harrie L. Ober, Assistant Treasurer

Board of
Lee,

H.

Brown*, Samuel Cole, F. I. Cressey, J. H. Girdler*, J. F. Hill, C. F.
C. E. Ober, H. L. Ober, R. P. Pope, John Prince, L. P. Stanton, E. S. Webber*,

F. E. Alger, G. P.

Directors:

Thomas Lund,

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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
Cash
.

.

1926

19,

Liabilities
.

....

.....

$2,975,450
62,750
14,270
2,070
170
16,300

00
00
00
00

Dues capital
Profits capital

302,403
645,600
298,400
9
51,424
49,033
21,940
3
227
75,000
9,000

certificates
share certificates

Paid-up

17

Forfeited share account

00

Guaranty fund

1,081 91

Surplus

44,888 02

Interest

Transfer fees

Withdrawal

00

.'$1,663,938

.

Matured share

profits

payable for money borrowed
Due on uncompleted loans
Bills

$3,116,980 10

71

00
00
00
11

18

92
25
93

00
00

$3,116,980 10

....
—

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
New series issued in March, September.

8,331
4,549

24
657
37,618
17,240
3,228

Members
Members who

are borrowers

3,564
1,152

Unmatured shares
Matured share certificates

3,151

Holders

of:

Paid-up share

1,492

539
287

certificates

Profits Distributed
Unmatured Shares and Matured Share
First term,

2%%;

First term,

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

second term,

Paid-up Share

Proportion of profits retained on voluntary withdrawals,
none.

25% on

series less

Rates and Averages on Loans
947 real estate loans (average, $3,142 each; average rate, 5.98%): aY2%,
202 share loans (average, $311 each; average rate, 6%): 6%, $62,750.

Certificates

2M%-

Certificates

than 4 years old; after 4 years,

131,000;

6%,

$2,844,4,50.

14 loans on matured share certificates: 6%, $14,270.
6 loans on paid-up share certificates: 6%, $2,070.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$6,163.83
1.98

$1,936.50

$97 55

.62

.03

Other
Expenses

Advertising

$5,289 99
1.70

.

.

Total
$13,487.87

4.33

BOSTON — ANDREW SQUARE CO-OPERATIVE BANK
632

DORCHESTER AVENUE (SOUTH BOSTON DISTRICT)

Incorporated January 23, 1919.
Stanley

W.

Began business April

Wisnioski, President

1,

1919

Chester F. Dlugokecki, Treasurer

Board of Directors: John Borkowski, Stefan Blaszkiewicz, John Ciskowski*, C. F. Dlugokecki, Roman Kalnicki,
John Kordaszewski, Michael Lisowski, Anthony Nadolny, Wincenty Skonieczny, Alexander Stelak, John
Stemplewski*, Hipolit Warshewski, S. W. Wisnioski, Joseph Wojdenski, Ludwik Zawalich*, Stanley
Zdonek, H. J. Ziolkowski.
Regular meetings for receipt of moneys the third
* Security Committee.

Monday

of each

month.

P.D.

10

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

8,
18,

Part III.
1926

P.D.

8,

Part III.
Shares

P.D.

12

Part III.

8,

Rates and Averages on Loans

6i^%, S107,000; 7%, $32,350.
estate loans (^avevage, %5,165 each; average rate, 6.34%): 6%, $113,750;
^1 share loans (average, $331 each; average rate, 6.15%); 6%, S4,979; 634%, $1,820; 7%,, $160.

49 real

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$1,032.00

353.04
1.26

$155.18

Other
Expenses
$1,112.98
3.97

.55

Total
$2,653.20
9.46

BOSTON — BELLEVUE CO-OPERATIVE BANK
1882

CENTRE STREET (WEST ROXBURY DISTRICT)

(Other authorized locations for receipt of moneys: Roslindale Branch of First National
Boston and Citizens National Bank of Boston)

Bank

of

business January 17, 1921

Incorporated December 15, 1920.

Edward Fruh,

Harold R. Duffie, President

Treasurer

E. Aitken, L. S. Breed, T. P. Buckley, A. W. Clark, J. H. Dearborn, L. J. Dickey, S.
W. C. Downey, H. R. Duffie, Richard Duffie*, Frank East, R. T. Fowler*, Albert Fruh, Edward Fruh,
C. H. Oilman, J. M. Graham, C. L. Havey, J. F. Henderson, J. T. Hosford*, G. C. McClellan, T. J.
McLaughlin, W. T. McLaughlin, W. R. Messer, H. L. Morse, J. H. Mulhern, F. H. Newton, R. O.
Pacht. P. S. Peters, F. T. Towle, H. C. Towne, I. H. Ward, J. A. Whittemore, Jr., G. S. WilUams, R. G.
Wilson, Jr.
Regular meetings for receipt of moneys the third Monday of each month.

Board of Directors:

J.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

18,

$311,400 00
6,185 00
38 06
7,899 24

Loans on real estate
Loans on shares
Temporary expense account
Cash

Dues

$257,491
29,302
30,200
244

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

Interest

.

.

.

.....
—
Membership

Shares

.....

00
00

$325,522 30

$325,522 30

....

67

59 28
48 59
2,250 00
15 00

Fines

Withdrawal profits
Due on uncompleted loans
Security committee

2,347
Issued during year
1,321
.
Withdrawn during year
7,780
Shares in force
1,861
Shares now pledged
151
Paid-up shares reijresented by certificates
New series issued in January, April, July, October.

00

1,958 47
2,305 01
1,648 28

Guaranty fund
Surplus

.

1926

Liabilities

Assets

Members
Members who
Holders

of:

615
83

are borrowers

Unmatured shares

.

Paid-up share

607
27

certificates

Profits Distributed

Unmatured Shares
First term,

1M%;

second term,

1?^%; fourth term,

Paid-up Share

Proportion of profits retained on voluntary withdrawals,
none.

64
«S

20% on

series less

than 5 years

Rates and Averages on Loans
average rate, 6%): 6%,, $311,400.

real estate loans (average, $4,866 each;
sfcore

foons (average, $269 each; average rate, 6.17%):

6%,

$5,135;

Total Expenses for Year

Amount

paid for

.

Coat per $1,000 of assets

7%,

third term,

Certificates

l}i%; second term,
fourth term, 1M%-

First term,

1H%;

l%e%;

1%%.

$l,OoO.

1M%;
old;

third term,

after 5 years,

P.D.

8,

Part III.

13

BOSTON

— BOSTON
53

CO-OPERATIVE BANK

STATE STREET

(Other authorized location for the receipt of moneys:
Incorporated April 30,

Albert

Goodman,

Franklin Street, Melrose Highlands)

541

Began business

18.S8.

May

2,

188S

Herbert F. Taylor,

President

Jr.,

Treasurer

Irene C. Nilson, Assistant Treasurer

Board of Directors: R. I. Carney*, L. W. Chandler, W. E. Cunningham*, H. B. Estabrook, Albert Goodman,
H. H. Hill, J. R. Hope, F. J. Howell, C. H. Johnson*, W. L. Kelt, H. F. Taylor, Jr.*, John Tein.
Regular meetings for the receipt of moneys the

first

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Insurance and taxes paid
Overs and shorts

....

1926

Liabilities

$6,445,300
84,840
8,100
2,195
21,229

00
00
00

Dues

19

Paid-up

capital
Profits capital

$2,874,198
630,627
2,534,000
185,800

Matured share

certificates
share certificates

85

Forfeited share account

1,294 38
586 16

Matured share account
Guaranty fund

56 84
25,000 00
352,268 79

.....

Certificate of deposit

Cash

4,

....

Assets

413

.

1,001

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

84,925
55,472
400,000
135,045

Surplus
payable for

money borrowed
Due on uncompleted loans

Bills

Personal accounts
cates

Dividends on paid-up share
cates

638

.

Dividends on matured share

00
84
00
00
46
35
60
23
00
00
98

certifi-

36,426 25

certifi-

2,322 50

$6,940,871 21

$6,940,871 21

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

....
—

Membership

Shares

Members
Members who

Issued during year
27,590
Withdrawn during year
15,062
Matured during year
5,935
Shares in force
70,728
Shares now pledged
37,747
Matured shares represented by certificates
12,670
929
Paid-up shares represented by certificates
New series issued in February, May, August, No-

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

of:

Paid-up share

6,414
1,408

4,539
1,738
127

certificates

Profits Distributed
Unmatured Shares and Matured. Share

vember.

First term,

iyi6%; second term,
iyia%; fourth term, VAe^o-

Certificates

l'5.i(j%;

third term,

Paid-up Share Certificates
1M%; second term, 1J4%; third term,
fourth term, 1M%-

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
1,S19 real estate loans (average, $5,287 each; average rate, 6.10%): 5%, $120,000; oli%, $17,500; 5Vo%,
$26,800; 5M%, $17,500; 6%, $4,660,575; 614%, $141,000; 6M%, $1,429,525; 6^%, $32,400.
176 s/ioreZoaras (average, $482 each; average rate, 6.14%): 5%, .$90; 5H%,$S20; 514%, $40; 6%, $61,650;
6?-^%, $15,280; 6?^%, $1,990; 7%, $2,460; 7M%, $1,180; 7}^%, S140; 7^%. S90; 8%, $1,580;

9%,

$20.

IS loans on matured share

certificates:

6%,

$6,820; C^}4%, $1,280.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$14,898..38

$4,161.84

Advertising

$351.91

Other
Expenses
$8,956 63
.

1.29
* Security

Committee.

Total
$28,368.76
4.09

P.D.

14

BOSTON — BRIGHTON

Part III.

8,

CO-OPERATIVE BANK

BRIGHTON AVENUE (ALLSTON DISTRICT)

157

(Other authorized locations for receipt of moneys: 341 and 581 Washington Street, Brighton)

Incorporated

May

May

Began business

17, 1911.

22, 1911

James H. Dalton, Treasurer

James T. Knowles, President

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, Assad Mudarri, 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 receipts of

moneys the second Wednesday

each month.

of

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

.

.

.....

13,

....

Dues capital
Profits capital

$940,500 00
38,340 00
380 00
360 00
7,265 60
20,812 89

$603,356
98,734
97,800
92,600
286
9,952
9,032
75,000

Matured share

certificates
share certificates

Paid-up

Forfeited share account

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

Guaranty fund

Surplus
Bills payable for

money borrowed
Due on uncompleted loans
Dividends on matured share
oates

Diwlends on paid-up share
catea

18,.530

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

Forfeited during year

Matured during year

00
63
15
19

00
00

1,171 68

certifi'

1,195 00

$1,007,658 49

....
—

Membership

Shares

Issued during year

00
84
00

certifi

$1,007,658 49

Withdrawn during year

1926

Liabilities

Members
Members who

5,672
2,842
41
331
16,935
6,185

Holders

of:

are borrowers

Unmatured shares
Matured share certificates

Shares in force
Shares now pledged
489
Matured shares represented by certificates
463
Paid-up shares represented by certificates
New series issued in February, May, August, No-

Paid-up share

1.374

305

.

1,213

72

.

89

certificates

Profits Distributed

Unmatured Shares
iyg%; second term, IH%;
lVs%; fourth term, 1?-^%.

vember.

First term,

Matured and Paid-up Share
First term,

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

25% on

1M%;

second term,

fourth term,

series less

third term,

Certificates

1M%;

third term,

1M%-

than 5 years

old;

after 5 years,

Rates and Averages on Loans
195
175
1
1

$4,823 each; average rate, 6.01%): 6%, $925,600;
6%, $38,340.
.s/iore tooras (average, $219 each; average rate, 6%)
loan on matured share certificates: 6%, $380.
$360.
share
certificates: 6%,
loan on paid-up

real estate loans (average,

7%,

$14,900.

:

Total Expenses for Year

Amount

paid for

Cost per $1 ,000

.

of assets

Salaries

Rent

Advertising

$1,985.00
1.97

$3,125.15
3.10

$523.86

* Security

Committee.

Other
Expenses
$1,926.44
1.87

Total
$7,560.45
7.46

P.D.

8,

Part III.

15

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. Apsey, President

Began business September

14,

1

Court Street,

1920

Warren

F.

Freeman, Treasurer

Adams*, A. S. Apsey, G. W. Apsey*, Jacob Bitzer, W. F. Burnham, W. S. Felton,
W. F. Freeman*, W. F. Freeman, Jr.*, W. C. Gray, L. L. Green, J. M. L. Groby,
W.
A. N. Hederstedt, J. G. Hickey, Thomas Jackson, W. H. Keyes*, G. D. Kimball*, F. J. Low*, E. C. Mansfield, J. J. Martin, John McCloskey, E. A. Merriam, Bowen Tufts, John Turner, D. R. Weedon, C. S.

Board of

Directors: C. R.
T. A. Fitzgerald,

Whittier, F. F. Whittier.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

13,

1926

•

P.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

6,

16

Assets

Bonds and notes
Loans on real estate
Loans on shares
certificates

.....

Temporary expense account
Cash

1926

Liabilities

Dues capital
Profits capital

.1550 00
360,750 00
11,235 00

Loans on paid-up share

Part III.

Paid-up

295 00
147 25
14,617 22

Forfeited share account

Guaranty fund
Surplus

17,159 18
3,885 12
191 31
40 13
15 00

Fines

Withdrawal profits
Security committee
$387,594 47

$387,594 47

......
—
Membership

Shares
j

Issued during year

53

00
00
85
5,438 35

certificates
share certificates

Interest

955

Members
Members who

149

Holders

,150

Withdrawn during year
Matured during year

00

$267,840
44,848
20,000
27,400
776

.

Matured share

Shares in force
,290
Shares now pledged
,906
Matured shares represented by certificates
100
1.37
Paid-up shares represented by certificates
New series issued in March, June, September December.

I

'

!

of:

are borrowers

....
...
.

Unmatured shares
Matured share certificates
Paid-up share

.

.

...

certificates

616
167

587
19
28

Profits Distributed

Unmatured Shares
1M%; second term, 1^4%', third term,
fourth term, 1J^%.

First term,

1M%;

Matured Share Certificates
Second term, 23^%; third term, 1 14%; fourth term,
Paid-up Share

Second term,

2^%;

Certificates

third term, 114,%; fourth term.

Proportion of profits retained on voluntary withdrawals, 20% on series less than 4 years old; 15% on series from
4 to 5 years old; 10% on series from 5 to 6 years old; 5% on series from 6 to 7 years old; after 7 years, none.

Rates and Averages on Loans
$2,540 each; average rate, 6.45%); 6%, $35,850; 6>^%, $324,900.
3S share loans (average, $295 each; average rate, 6.50%): 6J^%, $11,235.
5 loans on paid-up share certificates: 63^%, $295.

i.^2 reo? esiafe ?oa»s (average,

Total Expenses for Year

Amount

paid for

Cost per $1,000

Salaries

Rent

Advertising

$948 50
2.45

$132.00

$51.00

.34

.13

.

.

of assets

Other
Expenses
$403.49
1.04

Total
$1,5.34.99

3.96

BOSTON — CODMAN CO-OPERATIVE BANK
WASHINGTON STREET (DORCHESTER DISTRICT)

563

(Other authorized locations for receipt of moneys: First National Bank, 1436 Dorchester Avenue,
and 555 Columbia Road, Dorchester)
Incorporated June 15, 1920.

Henry

S.

Began business June

16,

1920

Thomas

Clark, President

Leavitt, Treasurer

of Directors: J. A. Anderson, T. H. Bilodeau, W. J. Buckner, F. L. Brier, H. S. Clark*, T. E. Gushing,
A. H. Davison, H. M. Drown*, H. E. Eichel, R. C. Foster, William Jardine, Thomas Leavitt, H. D.
MacRichie, J. C. McGee, R. J. McNulty, J. F. Murray, C. H. Pike*, Charles Shulman, B. L. Walker,

Board

F.

M. Weymouth.
Regular meetings for receipt of moneys the third Wednesday of each month.
* Security Committee.

P.D.

8,

17

Part III.

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

....

Temporary expense account
Cash

1926

20,

Liabilities

Dues

355,350 00
7,451 00

.

Paid-up share

200 00
195 87

13

00
40
2,352 38

certificates

Forfeited share account

Guaranty fund

11,811 03

00

$282,265
32,409
37,000
790

capital
Profits capital

5,501 01
3,879 72

Surplus
Interest

76 22
75
150 79
10,000 00
500 00
82 50

Fines
Transfer fees

Withdrawal

profits
Bills payable for money

Due on uncompleted

borrowed

loans

Security committee

$375.007 90

$375,007 90

Membership

Shares

Members
Members who

2,120
Issued during year
1,412
Withdrawn during year
178
year
during
Forfeited
8,190
Shares in force
2,150
Shares now pledged
185
Paid up shares represented by certificates
New series issued in March, June, Septe nber, December.

Holders

of:

— are borrowers

Paid-up share

783
118

....
...

Unmatured shares

.

.

.

757
41

certificates

Profits Distributed

Unmatured Shares
1M%; second term, 1%%; third term,
fourth term, 1^-8%.

First term,

1^%;

Paid-up Share

Certificates

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

1M%;

third term,

Other
Expenses
$601.68
1.60

Total
$2,975.40
7.93

First term,

1^%;

Proportion of profits retained on voluntary withdrawals, 20%.

Rates and Averages on Loans
93 real estate loans (average, $3,820 each; average rate, 6.50%): 63^%, $355,350.
25 share loans [avevage, $298 each; average rate, 6.60%) 6H%), $5,841; 7%, $1,610.
:

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

Salaries

Rent

$1,742.32
4.65

$560.65
1.49

Advertising

$70 75
.

.19

BOSTON — CONGRESS CO-OPERATIVE BANK
10

Incorporated August

4,

STATE STREET
1924.

Began business August

11,

1924

Arnold

Philip L. Carret, President

S. Potter,

Treasurer

Gilbert King, Assista7it Treasurer

Board of Directors: W. B. Alexander, David Black, Allan Brooks, P. L. Carret, J. W. Cooke, Zenas Crocker, Jr.,
J. F. Crowley, G. R. Ericson, William Everett, G. W. Foster*, E. F. Gray, W. H. Haker, C. A. Holcomb,
William Ittman, Gilbert King, L. E. Knox, T. F. Lyons, R. A. Pease, N. E. Peterson*, A. S. Potter, James
Reid, Jr., R. M. Sanders, A. J. C. Underhill, D. C. White, Jr.*.
Regular meetings for receipt of moneys the second

Monday

of

each month.

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

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

13,

1926

Liabilities

Assets
$198,900 00
8,384 00
6,730 72

Dues

capital
Profits capital

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Bills payable for money borrowed
Due on uncompleted loans
Dividends on paid-up share certifi.

cates

$214,014 72

* Security Committee.

$163,569
9,355
20,400
349
678

00
63
00

00
82

1,084 52
15,000 00
3,322 75

255 00
$214,014 72

P.D.

18
Shares

8,

Part III.

P.D.

8,

Part III.

19

Rates and Averages on Loans
(average, $3,075 each; average rate, 5.94%): 5>^%, $90,950; 6%, $1,574,820.

545 real estate loans
70 s/tore toons (average, $472 each; average rate, 6%)
3 loans on matured share certificates: 6%, $1,400.
3 loans on paid-up share certificates: 6%, $1,800.

:

6%,

$33,017.

Total Expenses for Year

Rent

Salaries

Amount

$7,855.80

paid for
Cost per $1,000 of assets
.

$305.88

Other
Expenses
$1,740.28

.17

.98

Advertising

$750.00

4.42

Total
$10,651.96
5.99

BOSTON — DUDLEY CO-OPERATIVE BANK
53

WARREN STREET (ROXBURY

DISTRICT)

(Other authorized locations for the receipt of moneys: 50 Congress Street, Boston, and 1050 Dorchester Avenue, Dorchester)
Incorporated

March

29, 1922.

Began business

April 10, 1922

C. Joseph Connell, President

.John

C

L. Dowling, Treasurer

Board of Directors: J. B. Cassidy, D. A. Cohen, R. V. Coleman*, C. J. Connell, T. J. Cudmore, J. C. L. Dowling*,
V. A. Heath, Percy Loring*, J. D. Lucas, S. C. :McIntire*, F. J. Nash, P. N. Petrocelli, A. J. Post, D. F.
Sennott*, F. F. Vogel.

Regular monthly meeting for receipt of moneys second

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Permanent expense account

Temporary expense account

....

Other assets

Cash

.

11,

192G

Liabilities

$247,300 00
12,228 00
995 00
148 .54
142 50
9,058 37

Dues

$209,556 00

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees
.

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans

Bills

Security committee

Personal accounts

.

Other liabilities
Dividends on paid-up share
cates

Overs and shorts
Paid-up share suspense
$269,872 41

certifi-

PD.

20

Part III.

8,

BOSTON — EDWARD EVERETT CO-OPERATIVE BANK
699

COLUMBIA ROAD (DORCHESTER DISTRICT)

(Other authorized location for receipt of moneys: 723 Dudley Street, Dorchester)
Incorporated August 11, 1916.

Began business September

14,

1916

Joseph H. Liverman, Treasurer

George V. Wattendorf, President

Board of Directors: J. D. Diggin, N. C. Fielding, J. A. Flynn, P. C. Frisbie, P. F. Gallahue*, Maurice Garfink,
J. H. Liverman, T. J. Mahoney, T. A. McCarthy, J. J. McGrail, M. J. Norton*, W. L. Norton*, C. H.
O'Connor, F. M. Wattendorf, G. V. Wattendorf*, J. A. Williamson*.
Regular meetings

for receipt of

moneys the second Thursday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

14,

Assets

S23 1,400 00
12,695 00
113 00
4,859 06

Loans on real estate
Loans on shares

....

Temporary expense account
Cash

Dues

$175,536
29,832
25,600
142

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

Guaranty fund

2,737
5,045
2,518

Surplus
Interest

Fines

Withdrawal
Bills

profits

payable for money borrowed

....
....
.

.

.

12

00
00
55
64
58
46

77
77 71
7,500 00

....
—

Membership

Shares

1,056
Issued during year
996
Withdrawn during year
4,441
Shares in force
1,493
Shares now pledged
128
Paid-up shares represented by certificates
New series issued in March, June, September, December.

00

$249,067 06

$249,067 06

.

1926

Liabilities

Members
Members who
Holders

of:

are borrowers

397
95

.

Unmatured shares
Paid-up share

385
24

certificates

Profits Distributed

Unmatured Shares
First term,

1^%;

second term,

1H%;

third term,

13^%; fourth term, 15^%.
Paid-up Share Certificates
1M%; second term, 1M%; third term,
fourth term, 1M%-

First term,

1M%;

Proportion of profits retained on voluntary withdrawals, 25% on series
none.

less

than 6 years old; after 6 years,

Rates and Averages on Loans
63
SS

real estate lomis (aveTUge, S3,e,73 each;
sfea7-ei!oa7is

average rate, 6.71%):

(average, $397 each; average rate, 5.98%):

6%,

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

$65,400;

7%,

$166,000.

5)^%, $450; 6%, $12,245.

P.D.

8,

21

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

....

20,

Dues

,925,300 00
100,000 00
1,136 49

$1,642,128 00
385,611 25
730 10
41,000 00
25,648 93
11,604 77
301 88

capital
Profits capital
.

Forfeited share account

Guaranty fund

320 97
85,390 02

Surplus
Interest

Fines
Transfer fees

2 00
703 97

Withdrawal profits
Due on uncompleted loans
Security committee

4,950 00
66 58

$2,112,747 48

$2,112,747 48

.....
—
Membership

Shares
Issued during year

Members
Members who

4,585
3,036

Withdrawn during year
Forfeited during year

40

Matured during year

1,187

Holders

of:

Unmatured

30,380
13,044

Shares in force
Shares now pledged

New

1926

Liabilities

are borrowers

2,458

912

.

shares

2,458

Profits Distributed

series issued in April, October.

Unmatured Shares
First term,

3%; second

term,

3%.

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans
average rate, 6%): 6%, $1,925,300.
456 share loans (average, $221 each; average rate, 6%): 6%, $100,600.
789

real estate loans (average, $2,440 each;

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

86,680.00
3.16

$748 50

$296.00

.35

.14

.

Other
Expenses
$2,415.56
1.14

Total
$10,140.06
4.79

BOSTON — EUREKA CO-OPERATIVE BANK
936

TREMONT STREET

(Other authorized location for receipt of moneys: 559 Massachusetts Avenue, Cambridge)
Incorporated August

2,

1910.

Began business September

Robert A. Simmons, President

1,

1910

David E. Crawford, Treasurer

Board of Directors: H. E. Braithwaite, W. A. Cox, D. E. Crawford*, J. O. Credle*, I. D. Ford, Walter Forster,
W. H. Hamilton, W. A. Hemingway, Zacheus Layne, Phillip Lyons, Jr., A. C. Miller, H. W. Finn, J. P.
Shelton*, R. A. Simmons*, A. W. Wade, Nina C. Wilson.
Regular meetings for receipt of moneys the

first

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

4,

1926

P.D.

22

Part III.

8,

....

Membership

Shares

Members
Members who

286
155

Issued during year

Withdrawn during year
Forfeited during year

16

Matured during year

26
518
223

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in March, September.

97

— are borrowers

32

Unmatured shares
Matured share certificates

93

Holders

of:

Paid-up share

3

.

certificates

1

9

Profits Distributed

1

Unmatured Shares and Matured and Paid-up Share
Certificates

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

First term,

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans
20

real estate loans (average,

7%,

$953 each; average

5.91%): 5>^%, $5,400; 6%, $12,050; 6J^%, $1,000

rate,

;

$600.

10 share loans (average, $169 each; average rate, 6%): 6%, $1,685.
1 loan on matured share certificates: 6%, $150.
1 loan on paid-up share certificates: 6%, $25.

Total Expenses for Year

Rent

Salaries

Amount

Other
Expenses
$219.62
9.55

Advertising

paid for
Cost per $1,000 of assets
.

Total

$219.62
9.5&

BOSTON — FANEUIL CO-OPERATIVE BANK
598

WASHINGTON STREET (BRIGHTON DISTRICT)

(Other authorized locations for receipt of moneys:
setts

Room 940,

18

Tremont

Street,

and 195 Massachu-

Avenue, Boston)

Incorporated April 10, 1916.

Began business May

9,

1916

Thomas King,

Frederick T. Conley, President

Treasurer

of Directors: J. J. Butler, J. J. Cherry, F. T. Conley, D. J. Cronin, P. J. Donaghue, P. J. Donnellan, A.
R. "Frost*, S. A. Gates, A. W. Grinnell, Thomas King*, J. F. Kinney*, F. L. Maguire, W. J. O'Connor*,
H. L. Young*.

Board

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Permanent expense account
Cash

....

13,

$123,626
4,920
122
5,457

00
00

Dues capital .
Profits capital

34
87

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Bills payable for money borrowed
Dividends on paid-up share certifi.

cates

.

.

.

.

.

$134,126 21

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

series issued in

$96,447 GO
14,770 18
11,000 00
1,903 24
1,710 63
5,157 66
3,000 00
137 50

$134,126 21

....
—

Membership

Shares

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

New

1926

Liabilities

841
592
2,641

Members
Members who
Holders

of:

are borrowers

.

Unmatured shares

783
55

Paid-up share

235
54
228

certificates

17

February, May, August, NoProfits Distributed

vember.

Unmatured Shares
second term, l'v46%; third term,
iyie%; fourth term, iyi6%.

First term, V'/i6%;

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

First term,

1H%;
Proportion of profits retained on voluntary withdrawals,
none.
* Security

25% on

Committee.

series less

than 6 years old;

after 6 years

P.D.

8,

23

Part III.
Rates and Averages on Loans

39 real estate loans (average, $3,170 each; average rate, 6.67%): 6%, $16,200; 6J^%, $49,100; 7%, $58,326.
16 share loans (average, $325 each; average rate, 6.69%): 6^A%, $3,060; 7%, $1,860.

Total Expenses for Year

Amount

paid for

.

Salaries

Rent

$246 00
1.83

$390.00

.

Cost per $1,000 of assets

BOSTON
236

— FARRAGUT

$1,048.29
7.82

Total
$1,684.29
12.56

CO-OPERATIVE BANK

K STREET (SOUTH BOSTON

Incorporated December 30, 1909.

Other
Expenses

Advertising

DISTRICT)

Began business February

Guilford D. Brown, President

15,

1910

Theodore L. Kelly, Treasurer

Board of Directors: G. D. Brown=iS Allan Campbell*, C. J. Collins, J. H. Corney, A. G. Hawley, T. L. Kelly,
H. T. Morse, J. C. Murphy, Richard Nason, M. J. O'Leary, P. F. Pfund, C. W. Pike*, E. J. Powers,
P. H. Raftery*, J. J. Rooney, E. R. Spinney*, E. H. Willey, A. R. Wood.
Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

.....
....
Liabilities

Dues capital
Profits capital

Matured share
Paid-up share

certificates
certificates

Forfeited share account
Matured share account

....
.....
.

.

Guaranty fund

Surplus
Security committee

.....
.....

Dividends on matured share
cates

Dividends on paid-up share
cates

certifi-

certifi-

19,

192G

24

P.D.

8,

Part III.

BOSTON — FEDERAL CO-OPERATIVE BANK
79

MILK STREET

(Other authorized location for receipt of moneys: 547 Colun^bia Road, Dorchester)
Incorporated January 29, 1890.

Began business February

Browne, J. F. Crowley,
P. Hanlon, D. L. Mahoney*, F. H. Maine,

Board

of Directors:

T.

L. J. Rouleau, E.

6,

1890

Thomas

Daniel L. Mahoney, President

J.

Browne, Treasurer

J. C. Denning*, T. P. Feeney, J. F. Finn*, J. A. Galvin, C.
McGrath,
J.
J. J.
J. Quinn*, G. P. Reed,.
P. Sullivan, J. F. Sullivan*, J. L. Walsh, G. S. Winchester.
J.

W.

McGann,

Regular meetings for receipt of moneys the

first

W.

Thursday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages

Unpaid interest
Overs and shorts
Cash

.....

7,

1926

Liabilities

$978,080 00
22,560 00
4,930 00
1,440 00
3,275 00
3,776 58
46 39
47,133 34

$1,061,241 31

Dues capital
Profits capital
.

.

.

.

,

.

.

.

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund

.

.

.

.

.

.

.

.

Surplus

.

Due on uncompleted

loans
Di\'idends on matured share certificates
Dividends on paid-up share certificates
.

.

.

.

.

.

.

.

.

.

$575,622

P.D.

8,

Part III.

25

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets
Xioans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates

Temporary expense account
Overs and shorts
Cash

27,

192G.

Liabilities

$809,100 00
24,728 00
100 00
5,400 00
322 17
5 00
18,405 89

Dues

capital
Profits capital

$504,703

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

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans
Bills

Security committee

$858,061 06

Forfeited during year

....
—

Membership

Shares
Issued during year

Withdrawn during year

6,375
2,621
19

932
Matured during year
Shares in force
13,815
Shares now pledged
4,807
Matured shares represented by certificates
661
383
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

certificates

Profits Distributed

Unmatured Shares
l%%; second term, l%%;
IViVc; fourth term, 15^%.

First term,

Matured Share
Third term,
First term,

1

%%;

third term,

Certificates

fourth term, 15^%.

Paid-up Share Certificates
second term, 114%; third term,

1M%;

l]i%; fourth term,

1M%-

26

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

....

Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates
Temporary expense account
Cash
.

.

.

.

.

8,

Part III.
1926

23,

Liabilities

Dues capita!
Profits capital

$2,172,601 00
42,350 00
7,925 00
950 00
1,297 12
40,354 33

$1,220,944
221,624
541,400
190,400
3,887
44,954
18,830
10,356

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account

.

Guaranty fund
Surplus
Interest

00
91

GO
00
25
73
11

06
120 16
1 00
213 63
12,744 60

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
$2,265,476 45

$2,265,476 45

Membership

Shares
Issued during year

Members
Members who

6,097
3,698

Withdrawn during year
Forfeited during year

62
892

Matured during year

Holders

Shares in force
26,746
Shares now pledged
12,594
Matured shares represented by certificates
2,707
Paid-up shares represented by certificates
952
New series issued in January, April, July, October.

of:

2,401
are borrowers

—

....
.

.

.

732

Unmatured shares
Matured share certificates

.

.

.

420

Paid-up share

.

.

.

156

certificates

2,269

Profits Distributed

Unmatured Shares
First term, l%e%; second term,
IVsVc; fourth term, 1?^%.

Wi&%;

third term,

Matured Share Certificates
1^10%; second term, l°/i6%; third term,
fourth term, 15/i6%.

First term,

1%Q%;

Paid-up Share Certificates
second term, 1J^%; third term,

First term, \]4,%;

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

25% on

1M%-

fourth term,

series less

than 5 years

old;

after 5 years,

Rates and Averages on Loans
577 rea? estate Zoores (average, $3,765 each; average rate 5.83%) 5%, $361,200; 6%, $1,811,400.
137 share loans (average, $309 each; average rate, 6%): 5)4%, $250; 6%, $42,100.
16 loans on matured share certificates: 6%, $7,925.
2 loans on paid-up share certificates: 6%, $950.
:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$7,259.91
3.21

$3,479.52
1.54

$30.00
.01

Other
Expenses
$2,513.18
1.11

Total
$13,282.61
5.87

BOSTON — GUARDIAN CO-OPERATIVE BANK
36
Incorporated July

Royal

S.

BROMFIELD STREET
2,

1S86.

Began business August

Wentworth, President

6,

1886

William D. Eldredge, 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

* Security Committee.

Friday of each month.

P.D.

8,

27

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

....

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

.

.

.

Liabilities

00
00
00
40
76
423 45

$1,681,000
39,450
5,300
8,267
3,064

98,061 31

$1,836,166 02

Share
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
New series issued in June, December.

5,427
2,702
61

822
18,627
9,.567
2,270

652

1,

192G

•

28

P.D.

8,

Part III.

....

Membership

Shares
Issued during year

5,969
2,388
71
1,081
13,630
5,666
1,577

Withdrawn during year
Forfeited during year

Matured during year

Shares in force
Shares now pledged
Matured shares represented by certificates
476
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Members
Members who

1,237

— are borrowers

267

Unmatured shares
Matured share certificates

1,017

Holders

of:

Paid-up share

246
77

certificates

Profits Distributed
Unmatured Shares and Matured Share

\%%\

Certificates

1%%;

third term,

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

third term,

First term,

second term,

irs%; fourth term, iys%.
First term,

1M%;

Proportion of profits retained on voluntary withdrawals, 20% on series
none.

less

than 5 years old; after 5 years^

Rates and Averages on Loans
S31 real

estate

loans (average, .14,530 each;

average rate, 6.41%):

$869,350.
44 share loans (average, $354 each; average rate, 6.50%"):
^ loans on matured share certificates: Qj^'y'o, $2,000.

6}^%,

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

o}4%, $50,300; 6%, $81,500;

$15,596.

6}4%.

P.D.

8,

Part

29

III.

Membership

Shares
Issued during year
Forfeited during year

3,771
2,660
61

Matured during year

604

Withdrawn during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in February, August.

Members
Members who
Holders

of:

1,414

— are borrowers

Unmatured shares
Matured share certificates

17,690
7,380
841

428

....
.

Paid-up share

certificates

.

.

1,3.34

.

.

.

117

.

.

.

106

Profits Distributed

606

Unmatured Shares

2%%;

First term,

second term, 3%.

Matured and Paid-up Share Certificates
First term, 2H%; second term, 23^%.
Proportion of profits retained on voluntary withdrawals,
none.

10%

on

series less

than 6 years old; after 6 years

Rates and Averag^es on Loans
(average, $3,-594 each; average rate, 5.94%):
$1,051,705; 61-^%, $57,600.
77 share loans (average, $3.54 each; average rate, 6%): 6%, $27,245.
1 loan on paid-up share certificates: 6%, $1,000.

5.50 real

estate

loans

5%,

$44,200;

5i^%, $104,405;

6%,

Total Expenses for Year
$3,600.00

Rent
$290.00

2 71

.22

Salaries

Amount

paid for

.

Cost per $1,000 of assets

$50.00

Other
Expenses
$482.40

.04

.36

Advertising

Total
$4,422.40
3.33

BOSTON — HOMESTEAD CO-OPERATIVE BANK
36

BROMFIELD STREET

Incorporated September 11, 1877.

Began business September

Walter H. Roberts, President

12,

1877

William D. Eldredge, Treasurer

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

....

Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Temporary expense account
Cash
.

.

.

.

.

.

13,

1926

Liabilities

$1,740,950
36,000
9,600
2,854
1,026
85,002

Dues capital
Profits capital

00
00
00
90
84

Forfeited share account

59

Guaranty fund

$873,311
187,923
610,400
106,400

.

Matured share

certificates
share certificates

Paid-up

967 01
40,529 65
30,409 14
18,781 67
600 95
2 50
442 69
5,500 00
166 00

Surplus
Interest

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
Security committee
$1,875,434 33

$1,875,434 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
New series issued in March, September.

00
72
00
00

....
—

Membership

5,941

2,496
34
1,606
18,837
9,931
3,052

Members
Members who

1,548

are borrowers

462

Unmatured shares
Matured share certificates

1,270

Holders

of:

Paid-up share

532

336

77

certificates

Profits Distributed

Unmatured Shares and Matured Share
First term,

2?4%; second

First term,

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

term,

Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.

20% on

* Security Committee.

series less

Certificates

2J^%.

Certificates

than 8 years old; after 8 years,

P.D.

30

8,

Part III.

Rates and Averages on Loans
360

real estate loans

5^%,

average rate, 5.98%):

(average, $4,836 each;

$'

1,400;

6%,

$1,641,850;

7%,

S12,700.

14s share loans (average, $252 each; average rate, 6%): 6%, $36,000.
13 loans on matured share certificates: 6%, $9,600.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$3,836.68
2.05

$724.13

Advertising
$209 58
.

.38

.11

Other
Expenses
$2,081.66
1.11

Total
$6,852.05

3.65

BOSTON — HYDE PARK CO-OPERATIVE BANK
1172

RIVER STREET (HYDE PARK DISTRICT)

(Other authorized location for receipt of moneys: 105 Readville Street, Readville)
Incorporated

Everett

W.

March

26, 1886.

May

Began business

1886

5,

Frederick P. McGrath, Treasurer

Lewis, President

Directors: H. E. Astley, J. E. Farrell, J. A. Galvin, E. C. Jenney, E. H. Kearney*, Charles Larsson,
E. W. I;e-svis, F. P. McGrath, I. H. Morse, T. J. O'Donnell, M. W. Riley, J. E. Sheridan*, H. L. Smith,
C. F. Stack*, G. E. Stanford.

Board of

Regular meetings for receipt of moneys the

first

Wednesday

each month.

of

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Banking house
Permanent expense account
Temporary expense account
.

Personal accounts

Bank

building,

.

.

$2,319,650
42,590
3,890
1,280
66,445
8,348
1,737
2,003
1,593

.

income and expense

00
00
00
00
22

Dues

25
33
74
34
60

Guaranty fund

12
48,648 16

Other assets

Cash

capital
Profits capital

certificates
share certificates

Paid-up

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

40,552
36,980
24,170
573
3
377
40,377
197
119

Surplus
Interest

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
Security committee
.

.

....
—

Membership

9,506
6,012
15
1,187
30,144
13,192
2,582

Forfeited during year

•

00
00
20
20
40
94
44
00
82
00
00
06

$2,496,198 64

Shares

Withdrawn during year

.

00
58

692

Forfeited share account

Personal accounts

Matured during year

1926

$1,336,538
255,017
516,400
244,200

.

Matured share

$2,496,198 64

Issued during year

8,

Liabilities

.

Shares in force
Shares now pledged
Matured shares represented by certificates
1,221
Paid-up shares represented by certificates
New series issued in March, June, September, December.

Members
Members who

2,916

are borrowers

808

Unmatured shares
Matured share certificates

2,609

Holders

of:

Paid-up share

428
218

.

certificates

Profits Distributed

Unmatured Shares
15^%; .second term, 15^%;
fourth term, 1?^%.

First term,

1H%;

Matured and Paid-up Share
First term,

1M%;

1M%;

second term,

1^%-

fourth term,

third term,

Certificates

1M%;

Proportion of profits retained on voluntary withdrawals, 15% on series less than 4 years old;
from 4 to 8 years old; after 8 years, none.

third term,

10% on

series

Rates and Averages on Loans
635 real estate loans {averaze, $3,Q53 each; average rate, 6%); 5%, $7,200; 6%, $2,312,450.
152 share loa?is (average, $281 each; average rate, 6%): 6%, $42,590.
14 loans on matured share certificates: 6%, $3,890.
7 loans on paid-up share certificates: 6%, $1,280.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

•

Salaries

Rent

$5,599.59
2.24

$843.71
.34

Security Committee.

Advertising
$652 25
.

.26

Other
Expenses
$2,926.25
1.17

Total
$10,021.80
4.01

P.D.

8,

Part

31

III.

BOSTON
702

JAMAICA PLAIN CO-OPERATIVE BANK

CENTRE STREET (JAMAICA PLAIN DISTRICT)

Incorporated February

7,

1920.

Began business February

19,

1920

George

Robert D. Webster, President

J.

Ganer, Treasurer

Beering, P. M. Connolly*, W. E. Corkum, C. H. Curtis, Herbert Dillingham, W. T.
Board of Directors: F.
Driscoll, W. W. Foley, R. T. Fowler*, G. J. Ganer, J. L. Griffin, Joseph Harriman, Lyla E. Henderson,
W. R. Hicks, B. E. Holland, J. B. Kavanaugh, G. W. Kenyon*, R. B. Kenyon, L. E. Knott, J. R. MacKinnon, H. C. Maguire, Alice McMurrough, P. J. Oswald, John Perrins, F. C. Pflug, Maurice Rosen,
D. B. Ruggles, G. C. Russell, H. E. Smith, R. D. Webster.

W.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Overs and shorts

Cash

.1247,600 00

10,010 00
37 38
18,138 35

22,

1926

32

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Cash

Part III.
1926

Liabilities

Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Banking house
Other assets

8,
18,

$1,000 00
1,967,475 00

00
00
00

42,626
3,080
800
41,494
50
53,931

....

Dues capital
Profits capital
Paid-up

certificates
share certificates

18

Forfeited share account
Matured share account

00

Guaranty fund

61

Surplus

Due on uncompleted
Personal accounts

458 28

.

loans

.

cates

2,512 50

$2,110,456 79

....
—

Membership

Shares

Matured during year

00
00

4,030 00

$2,110,456 79

Forfeited during year

59

certifi

cates

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

83

certifi

Dividends on paid-up share

Issued during year

15

13,614
38,693
54,921
8,550
5

.

Dividends on matured share

Withdrawn during year

00
44
00
00

$1,253,998
210,273
322,400
201,000

Matured share

6,714
4,783

69
860

Shares in force
29,246
Shares now pledged
11,736
Matured shares represented by certificates
1,612
Paid-up shares represented by certificates
1.005
New series issued in February, May, August, No-

vember.

Members
Members who
Holders

of:

are borrowers

2,684

735

.

Unmatured shares
Matured share certificates

2,508

288
166

Paid-up share certificates

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term,

1M%;

second term,

1}4%; fourth term,

1M%.

1M%;

third term,

Proportions of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
593 real estate loans (average, .|3,323 each; average rate, 5.95%): 5^%, $196,275; 6%, $1,771,200.
260 share loans (average, $164 each; average rate, 6%): 6%, $42,626.
6 loans on matured share
i? loatis on paid-up share

certificates:
certificates:

6%,
6%,

$3,080.
$800.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$7,484.00
3.55

$840.00

Advertising

$4.20

.40

Other
Expenses
$2,266.59
1.07

Total
$10,594.79
5.02

BOSTON — MASSACHUSETTS CO-OPERATIVE BANK
DORCHESTER AVENUE

1442

(Other authorized locations for receipt of moneys: American Trust Company, 50 State Street, and
Bank of Commerce and Trust Company, 21 Milk Street, Boston)
Incorporated

May

19, 1908.

May

Began business

28,

Board of

1908

Ansley

Joseph R. Churchill, President

M. Johnson,

Treasurer

C. Briscoe, F. J. Carey, J. R. Churchill, D. J. Ferguson, L. J. Haj'ford*,
A. M. Johnson*, B. C. Kelley, Roger Mansfield, J. F. Masters, J. J. Moore, E. J. Owen*, E. A. Retzel,
J. J. Scarry, A. W. Thompson, J. O. White, F. I. Wilkins.
Directors: J.

li.

Barnev,

J.

Regular meetings for receipt of moneys the last business day of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Banking house
Permanent expense account
Temporary expense account

.....

Building expense

Cash

30,

1926

Liabilities

52,775,110
34,446
15.140
24,000
2,800
3,068

00
00
00
00
00
23

95 72
79,241 12

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees
Bills payable for

money borrowed
Due on uncompleted loans

Security committee

Suspense
$2,933.901 07

* Security Committee.

.

.

.

$1,237,686
196,343
1,271,400
18,800
3,248
27,115
24,651
29,984
661
3
100,000
23,700

00
31

00
00
03
76
54

58
84
02
00
00
290 00
16 99

$2,933,901 07

P.D.

8,

33

Part III.

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

......
Membership

Shares

Issued during year

17,043
10,179
121
2,774
37,753

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
1*5,036
Shares now pledged
6,357
Matured shares represented by certificates
94
certificates
Paid-up shares represented by
New series issued in March, Juno, September, December.

Members
Members who
Holders

of:

— are borrowers

3,440

767

....
.

.

Unmatured shares
Matured share certificates
Paid-up share certificates

.

2,938

.

.

.

798

.

.

.

12

Profits Distributed

Unmatured Shares and Matured Share
First term,

1H%;

1%%;

.second term,

fourth term,

1^%.

Paid-up Share

Certificates

third term,

1J^%;

Certificates

1}4%; second term,
11-4%; fourth term, l}i%.

First term,

1M%;

third term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
average rate, 6.47%): 5^%, 864,550; 6%, $106,300;
$2 5''2 300' 7% $81 960
1S9 share Zo'ans '(average,' $182 each; average rat_e, 6.50%): 6%, $200; 6}^%, $33,546; 7%, $700.
38 loans on matured share certificates: 6}-^%, $15,140.

664

real estate loans

(average, $4,179 each;

G}^%,

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$14,574.59
4.96

$1,200.00

$363.25

.40

.12

Other
Expenses

Total
$20,153.95
6.84

$4,016.11
1.36

BOSTON — MATTAPAN CO-OPERATIVE BANK
1575

BLUE HILL AVENUE (MATTAPAN DISTRICT)

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

Began business December

20,

Room

219, Boston)

1910

William R. Landers, Treasurer

Charles K. Thurston, President

Crosby, W. G. Cruckshank*. G. T. Curlev, E. E. Erickson, W. A.
Guild, W. R. Landers*, J. B. Patterson, T. S. Richardson*, T. W. Roulston, F. N. Russell, S. B. Small,
P. D. Smith, C. K. Thurston, J. P. Weldon, J. F. Willett, P. J. Williams.

Board of Directors:

3. F.

Ballard,

W. H.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

19,

1926

Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Temporary expense account
Overs and shorts
Cash

,153,695
19,755
4,560
1,297

00
00
00
72

116 54
15,435 02

Dues capital
Profits capital

$542,167

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans
Bills

Security committee

$1,194,859 28

....
.....16
....
.....
....
.

cember.

.

....
—

Membership

Shares

Issued during year
4,992
Withdrawn during year
3,505
Forfeited during year
Matured during year
892
Shares in force
13,636
Shares now pledged
6,344
Matured shares represented by certificates
2,191
Paid-up shares represented by certificates
143
New series issued in March, June, September, De-

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

certificates

Profits Distributed

Unmatured Shares and Matured Share
First term,

1%%;

Certificates

second term, 13-s%; third term,

1?^%; fourth term, 1.?^%.
First term,

1M%:

Paid-up Share Certificates
second term, \}/i%\ third term,

1M%;

fourth term,

1M%-

P.D.

34

8,

Part III.

Rates and Averages on Loans
293

real estate loans (average, $3,951 each;

average rate, 6.01%):

$29,600.
67 share loans (average, $295 each; average rate,
6 loans on matured share certificates: 6%, $4,560.

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

5J^%, $16,700; 6%, 81,107,395; 6}4%,

6%): 6%, $19,755.

Salaries

Rent

$4,081.34
3.41

$1,491.85
1.25

P.D.

8,

Part

35

III.

Total Expenses for Year

Amount

paid for

Cost per SI, 000

,

of assets

Salaries

Rent

$3,539.93
4.14

$844 34

$125.52

.98

.15

Advertising

.

Other
Expenses
$1,036.12
1.21

Total
$5,545.91

6.48

BOSTON — MERCHANTS CO-OPERATIVE BANK
24

SCHOOL STREET

(Other authorized locations for receipt of moneys: branches of First National Bank of Boston,
Uphams Corner, Fields Corner, Roslindale, Hyde Park, Brighton and Allston.)
Incorporated December

Bertram D.

2,

1881.

Began business February, 1882
.Mbert E. DuffiU, Treasurer

Blaisdell, President

Girard N. Jones, Assistant Treasurer

Board of Directors: H. E. Abbey, J. H. Aubin*, B. D. Blaisdell, A. E. Dviffil!, Frank Fanning*, W. F. Freeman*, H. F. French*, R. L. Hall, C. N. Marland, A. J. Mercer, C. S. Patten*, H. A. Perkin.s*, F. M.
Perry, J. C. Pineo, C. D. Rice, C. W. Sherman, J. A. Sparrow*, F. O. Whitney*.
Regular meetings for receipt of moneys the second

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

11,

1926

Liabilities

$24,020,630
488,160
52,100
5,530
7,027
16,794
872,349

00
00
00
00
82
44

Dues capital
Profits capital

61

Surplus

3,831,521

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Interest

Fines

....

Tran.sfer fees
Withdrawal profits

Due on uncompleted
Security committee
Fire insurance

Reserve fund
$25,462,611 87

loans

P.D.

36

Part III.

8,

BOSTON — METROPOLITAN CO-OPERATIVE BANK
80
Incorporated

May

FEDERAL STREET
14, 1915.

May

Began business

24,

1915

Fred E. Bolton, President

F. Oscar Chase, Treasurer

H. M. Chamberlain, L. W. Chandler, F. O. Chase* R. D. Crook* J. H.
Dunn, B. P. Ellis, B. M. Golding*, J. W. A. Gordon, H. H. Hale*, J. C. Hall. E. L. Harris, Theodora M.
Hastings, T. E. McCarthy, C. A. Palmer*, W. J. Peterson, Guy Richardson, Annie M. Stone, C. L.
Titus, H. F. Weiler.

Board of

Directors:

F. E. Bolton*,

Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

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

.....

18,

1926

Liabilities

00
00
00
55
1,156 33
83
16,009

$496,575
31,980
180
252

Dues capital
Profits capital
Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans

Bills

....

Security committee

Suspense
Overs and shorts
Due on foreclosure sale
$546,153 71

.

$373,874

P.D.

8,

37

Part III.

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

.....

11,

1926

P.D.

38
Issued during year

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

Withdrawn during year

Part III.

8,

....

Membership

Shares

Members
Members who

9,679
6,057

Forfeited during j'ear

30

Matured during year

2,003
35,626
16,046
4,554

Shares in force
Shares now pledged
Matured shares represented by certificates
569
Paid-up shares represented by certificates
New series issued in February, May, August, No-

3,180

— are borrowers

939

Unmatured shares
Matured share certificates

2,677

Holders

of:

Paid-up share

668
105

certificates

Profits Distributed
Unmatured Shares and Matured Share

vember.

1?^%; second term,
iya%; fourth term, 1?^%.

First term,

Paid-up Share
First term, 1}4%',

Certificates

1%%;

third term,

Certificates

second term,

1^%;

third term,

1M%.

1}4%; fourth term,

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

10% on

series

average rate, 5.94%): 5%, $15,400; 5)4%, $293,600;
S2 625 500
i5e s^iare ?o'ans '(average, $202 each; average rate, 6%) 5i^%, $230; 6%, $31,260.
17 loans on matured share certificates: 6%, $5,280.
1 loan on paid-up share certificates: 6%, $3,000.

6%,

Rates and Averages on Loans

8W

real estate loans

(average, S3,579 each;

:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Rent

Salaries
.$6,407.00

$2,000.00

2.10

.65

Other
Expenses

Advertising

$3,347.43
1.10

Total
$11,754.43
3.85

BOSTON — NODDLE ISLAND CO-OPERATIVE BANK
272

MERIDIAN STREET (EAST BOSTON DISTRICT)

Incorporated February 23, 1911.

James

S.

Began business March

4,

1911

James H.

Murray, President

Cline, Treasurer

Board of Directors: E. C. R. Baglev, Robt. Bonney, Thomas Boyd, J. L. Case, M. J. Cashman, A. S. Cassidy*,
G. J. Clarson, J. H. Cline, J. H. Coakley, C. W. Crocker, C. J. Donohue*, P. D. Emmons, F. S. Ferreira,
J. J. Flaherty, Edward Gluckler, R. H. Houghton, J. S. Murray*, A. J. Porter, A. J. L. Rausch, C. A.
Rollins, A. L. Tallman, J. W. Veader.
Regular meetings for receipt of moneys the second Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

13,

192G

.

•

P.D.

8,

39

Part III.

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

Forfeited during year

Matured during year

Members
Members who

1,888

964

Holders

16
177
5,782

.

.

.

.

1

Certificates

third term,

M 7o

Paid-up Share

Certificates

l\i%; second term, 1^4%
lJi%; fourth term, VA%.

First term,

25% on series less than 6 years
from 7 to 8 years; after 8 years, none.

Proportion of profits retained on voluntary withdrawals,

5%

121
10

.

l>o%; second term, 13^%;
,

539

...
.

certificates

ll-i%; fourth term

years;

191

.

Profits Distributed
Unmatured Shares and Matured Share
First term,

539

....

Paid-up share

.

.

of:

arc borrowers

Unmatured shares
Matured share certificates

Shares in force
2, .335
Shares now pledged
605
Matured shares represented by certificates
26
Paid-up shares represented by certificates
New series issued in March, June, September, December.
.

......
—
Membership

Shares

Issued during year

Withdrawn during year

old;

I

third term,

15% from

6 to 7

Rates and Averages on Loans
161 real estate loans (average, .S2,550 each; average rate, 6,64%): 6%, $151,540;
28 share loans (average, $i257 each; average rate, 7%): 7%, $7,180.
S loans on matured share certificates: 7%, $175.

7%,

$259,094.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$800.00
1.82

$400.00

$72.00

.91

.16

Other
Expenses
$598.00
1.35

Total
$1,870.00

4.24

BOSTON — NORTH DORCHESTER CO-OPERATIVE BANK
39

SAVIN HILL AVENUE (DORCHESTER DISTRICT)

Incorporated July 20, 1907.

Began business August

20, 1907

Daniel

John M. Donovan, President

Daly, Treasurer

J.

Directors: J. J. Broderick*, H. A. Carey, D. J. Daly, J. S. Donahue, J. M. Donovan, M. J. DriscoU*,
W.P. Gafney, P. F. Gallahue, T. J. Gorman, W. H. Kehoe*, C. J. Lavis, F. X. Moritz, D. G. Slattery.

Board of

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

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

,

19,

1926

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

Assets

Liabilities

$723,900 00
21,326 00
2,155 00

.....

272 00
22,435 55

Dues capital
Profits capital

Matured share

certificates

Paid-up share certificates
Guaranty fund
Surplus
Personal accounts
Dividends on matured share
cates

Dividends on paid-up share
cates

certificertifi-

$770,088 55

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

vember.

....
—

Membership

Shares

Issued during year
2,052
Withdrawn during year
1,510
Forfeited during year
38
Matured during year
396
Shares in force
9,751
Shares now pledged
4,323
Matured shares represented by certificates
703
Paid-up shares represented by certificates
308
New series issued in February, May, August, No-

Members
Members who
Holders

of:

are borrowers

.

Unmatured shares
Alatured share certificates
Paid-up share certificates

.

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

1J^%; second term,
VA7o; fourth term 1 M %

First term,

,

1M%;

third term,

P.D.

40

8,

Part III.

Rates and Averages on Loans
155 real estate loans (average, $4,670 each; average rate, 5.92%): 6%%: $110,600; 6%, $613,300.
46 share loans (average, $464 each; average rate, 6%): 6%, $21,326.
4 loa7is on matured share certificates: 6%, $2,155.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

52,479.80

$532.13

$72.40

Other
Expenses
$408.92

3.22

.70

.09

.53

Total
$3,493.25
4.54

BOSTON — PIONEER CO-OPERATIVE BANK
36

BROMFIELD STREET

Incorporated July 26, 1877.

Began business August

6,

1877

William D. Eldredge, Treasurer

Walter H. Roberts, President
Directors: W. H. Bain, E. E. Bridge, J.
Joseph Hendry, J. T. Kaler, P. B. Roberts,
R. S. Wentworth*, H. L. Young*.

Board of

W. Cousins, W. D. Eldredge*, G. R. Farrell, W. S. Fracker*,
W. H. Roberts, C. C. Swett*, F. C. Toward*, Joseph Uttley,

Regular meetings for receipt of moneys the

first

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
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
Mortgage balance
Cash

Liabilities
,688,200 00

22,700 00
6,900 00

600 00
537 51
169 55
70 60
88,455 SO

.....
.

$1,807,633 46

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
New series issued in April, October.

5,639
2,683
16
1,203
16,957
8,825
2,852

784

4,

1926

•

P.D.

8,

Part III.

41

BOSTON

REAL ESTATE CO-OPERATIVE BANK
7

WATER STREET

(Other authorized locations for receipt of moneys: Atlantic National Bank and Citizens National

Bank)
Incorporated February

9,

1920.

Began business March

Frederick O. Woodruff, President

20,

George

1920
I.

Robinson,

Jr.,

Treasurer

Board of Directors: C. J. Bliss, W. E. Chamberlain, W. C. Codman, D. .1. Cronin*, A. D. Dowd*, R. G. Jones*,
W. J. Keville*, H. F. Mason, W. J. McDonald, J. P. Merrill, E. K. Newhall*, A. L. Ri.^hmond, G. I.
Robinson, Jr.*, I. H. Rosenbaum, Frank Ross*, C. R. Tuckett, Frederick Viaux, W. C. Weeks*, C. H.
Welch, Willard Welsh, Henry Whitmore, Arnold Whittakcr, Lombard Williams, F. O. Woodruff.
Regular meetings for receipt of moneys the 25th of each month, unless falling on Saturday, Sunday or holiday,
when next business day succeeding.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

Cash

27,

1926

Liabilities

00
70
00
50
322 56

100
34,854
1,900
1,156

.SI, 587,

.

54,524 18

.

Dues capital
Profits capital
.

Paid-up share

certificates

Foifeited share account

.

Guaranty fund
Surplus
Interest

....

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
Security committer
$1,679,857 94

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

Membership

Shares

Issued during year
15,391
Withdrawn during year
8,741
Forfeited during year
666
Shares in force
40,699
Shares now pledged
10,325
Paid-up shares represented by certificates
824
New series issued in March, June, September, December.

Members
Menibers who are borrowers
Holders of:

—

Unmatured shares
Paid-up share certificates
Profits Distributed

Unmatured

Sliares

second term, l}4%; third term,
lJ-^%; fourth term, 1}^%.

First term, 13-i%;

Paid-up Share Certificates
1M%; second term, 1M%;
fourth term, 114%.

First term,

1M%;

third term,

P.D.

42

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

.

....

.

"

.

1926

27,

Liabilities

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

Part III.

8,

Dues capital
Profits capital

$834,350 00
16,125 00
3,845 00
860 00
67 55
564 89
73,890 93

00
20
00
00
00
13,061 48

S508,529
93,132
188,800
88,800
48

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account

.

Guaranty fund
Surplus

66
94
09
00
48 00

15,394
3,576
103
14,725

Interest

Withdrawal profits
Due on uncompleted loans
Security committee
Dividends on matured share

certifi-

2,375 00

cates

Dividends on paid-up share

certifi

1,110 00

cates

$929.703 37

$929.703 37

Membership

Shares

Members
Members who

3,030
Issued during year
1,961
Withdrawn during year
5
Forfeited during year
475
Matured during year
11,230
Shares in force
4,828
Shares now pledged
944
Matured shares represented by certificates
444
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Holders

of:

1,190

— are borrowers

300

....
.

Unmatured shares
Matured share certificates
Paid-up share

.

.

1,049

...
.

certificates

.

159
75

.

Profits Distributed

Unmatured Shares
First term,

1M%'. second term, 1}^%;

Matured and Paid-up Share
First term,
1

M%

1J^%; second term,

fourth term

;

,

third term,

Wi9%.

l^/i6%; fourth term,

1

M%

Certificates

1M%;

third term,

•

Proportion of profits retained on voluntary withdrawals, 20%.

Rates and Averages on Loans
256 real estate loans (average. $3,259 each; average rate, 5.95%) 5%, $24,050; 5i^%, $33,300; 6%, $777,000
96 share loans (average, $168 each; average rate, 6%): 6%, $16,125.
7 loans on matured share certificates: 6%, $3,845.
2 loans on. paid-up share certificates: 6%, $860.
:

.

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

Salaries

Rent

Advertising

$3,380.00
3.64

$740.89

$328.94

.80

.35

Other
Expenses
$1,199.57
1.29

Total
$5,649.40
6.08

BOSTON — ROXBURY CO-OPERATIVE BANK
1109

COLUMBUS AVENUE (ROXBURY DISTRICT)

(Other authorized location for receipt of moneys: State Street Trust Co., corner State and Congress Streets. Boston)
Incorporated October

3,

1889.

Began business November

1,

1889

Clarence E.

John F. Mungovan, President

MacKay,

Treasurer

Board of Directors: Wm. Armstrong, H. G. Bean, F. C. Bleiler*. Joseph Driscoll, Joseph Engel, J. W. Fitzgerald, H. E. Hoffman, J. T. Hosford, T. F. Hunt*, G. E. Jacobs, S. R. Keith, D. J. Kelly, Charles
Liffler, Charles Liffler, Jr., C. E. MacKay, R. A. MacLellan*, S. G. Mathewson, H. F. Malley, J. F. Mungovan, J. F. Murphy, S. J. Rantin*, F. W. Rugg, A. E. Taylor, A. K. Williams.
Regular meetings for receipt

of

moneys,

first

Wednesday

* Security Committee.

of

each month.

P.D.

8,

43

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
I^oans on shares
Loans on matured share certificates
Unpaid interest
Cash
.

.

.

.....

6,

Liabilities

,149,560 00

26,365 00

315 00
2,034 14

40,795 84

.$785,650 00

Dues capita!
Profits capital
.

Matured share

153,542
185,600
961
24,521

certificates

Forfeited share account
Matured share account

.

Guaranty fund

.34,525

Surplus

Due on vmcompleted

Ioo,ns

Dividends on matured share
cates

Overs and shorts
$1,219,069 98

70
00

72
99
39
26,677 19
2,950 00

.

certifi

4.640 00

99
$1,219,069 98

P.D.

44

Part III.

8,

......
Membership

Shares

Members
Members who

3,045
1,553
38
1,058
7,027
2,873

Issued during year

Withdrawn during year
Forfeited during year

Matured during year

Holders

— are borrowers

of:

Unmatured shares
Matured share certificates

Shares in force
Shares now pledged
"610
Matured shares represented by certificates
114
Paid-up shares represented by certificates
October.
New series issued in January, April, July,

775
169

....
.

.

707
119
20

...

.

Paid-up share certificates

.

.

Profits Distributed

Unmatured Shares

li%2%; second

First term,

term,

'

Matured Share
Second term,

l%%;

1%%;

third term,

1^%.

iy8%; fourth term,

Certificates

third term,

\%%;

fourth term,

Paid-up Share Certificates
second term, l%%\ third term,

1M%;

First term,

1M%-

1}^%; fourth term,

Proportion of profits retained on voluntary withdrawals, none.

116

real estate loans (average,

Rates and Averages on Loans
average rate, 5.55%): 5i^%, $21,860; 6%, $210,300; 63'^%,

,898 each;

$220 000
60 share loai'is (average. $171 each; average
loan on matured share certificates:
1 loan on paid-up share certificates:
1

rate,

6%): 6%, $10,240

G%, $75.
6%, $100.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

BOSTON
362

— SOUTH

Rent
$330.00

.

Total
$3,377.72
7.18

.77

.55

.70

BOSTON CO-OPERATIVE BANK

9,

1913.

DISTRICT)

Began business June

21, 1913

Francis

Griffin, President

Directors: P. J. Cuddver, J. P. Dempsey*, W.
kins*, J. A. Hopkins, F. W. Horgan*, J. P. Kirby,

Board of

Murphy, A.

Other
Expenses
$358.02

Advertising
$259 70

BROADWAY (SOUTH BOSTON

Incorporated June

William H.

Salaries

$2,430.00
5.16

J.

Monahan, Treasurer

H. Griffin, L. J. Halloran, W. P. Hickey, E. L. HopJohn McGrath, J. B. Meehan, F. J. Monahan, P. B.
W. H. Taylor, E. T. A. Welch.

F. R. Novelline, Daniel O'Keefe, P. E. A. Sheridan,

Regular meetings for receipt

of

moneys the

third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Temporary expense account
Cash

....

18,

1926

Liabilities

$178,500 00
8,360 00
201 00
7,379 13

Dues capital
Profits capital

.

Matured share
Paid-up share

certificates

certificate.?

Forfeited share account
Guarant.v fund
Surplus

.

Interest

profits

Security committee

Proceeds of foreclosure sale

.377 19
2,577 62
3,899 71

91
30 77
25
107 33
103 99
116 36

$194,440 13

$194,440 13

* Security

00
00
00
00

2,1.30

Fines
Transfer fees

Withdrawal

$128,914
22,182
14,600
19,400

Committee.

P.D.

8,

Part

45

III.

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

......
Membership

Shares
Issued during year

Withdrawn during year
Matured during year

Members
Members who

594
578
82

Holders

— are borrowers

of:

Paid-up share

.372

129

....
...

Unmatured shares
Matured share certificates

Shares in force
2,899
Shares now pledged
1,560
Matured shares represented by certificates
73
97
Paid-up shares represented by certificates
New series issued in March, June, September, December.

certificates

.

.

.

332

...

10
28

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term, l}4,%;

m,%\

second term, 1)4%; third term,

fourth term,

Proportion of profits retained on voluntary withdrawals,

25%

1}^%.

after 18th series.

Rates and Averages on Loans
;oe reoi estafe Zooms (average, Sl,684 each; average rate, 5.96%): 5 J^%, $13,900; 6%, $164,600.
23 share loans (average, $363 each; average rate, 6%): 6%, $8,360.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
,

Salaries

Rent

$700,00
3.60

$180.00

Other
Expenses
$123.03

.93

.63

Advertising

Total
$1,003.03
5.16

BOSTON — SOUTH END CO-OPERATIVE BANK
806
Incorporated

November

TREMONT STREET
8,

1921.

Began business November

8,

1921

Edgar P. Benjamin, President

Jesse Goode, Treasurer

Board of Directors: E. P. Benjamin*, J. M. Burrell, E. D. Cooke, W. J. Fubler, C. N. Garland, C. H. Greene,
J. B. Goddard, Jesse Goode*, J. B. Hall, Mildred B. Joyner, D. S. Klugh, W. L. Leach, E. V. Roundtree
E. Z. Roundtree*, A. P. Russell, T. G. Schuyler, C.

J.

Shepherd. S. A. Tasco, G. A. Tell*.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

14,

1926

Liabilities

Loans on real estate
Loans on shares
Unpaid interest
Cash

$110,870 00
7,362 80
225 71
3.043 81

.

Dues

capital
Profits capital

$91,877 00
11,781 41
10,600 00
1,574 78
1,081 12
2,354 89
2,000 00

.

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus

.

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

6 67

.

certifi

cates

Other

132 50
93 95

liabilities

$121,502 32

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

$121,502 32

Withdrawn during year
Forfeited during year

.....
—
Membership

Shares

Issued during year

623
630
56

Shares in force
2,584
Shares now pledged
948
Paid-up shares represented by certificates
53
New series issued in February, May, August, November.

Members
Members who
Holders

of:

are borrowers

Unmatured shares

621
86

610
14

Paid-up share certificates
Profits Distributed

Unmatured Shares
First term,

1%%;

second term,

IM%;

third term.

lH7o: fourth term, 15^%.
First term,

1M%;

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

1M%;

fourth term,

1M%.

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

Committee.

P.D.

46

8,

Part III.

Rates and Averages on Loans
42 real estate loans (average, $2,639 each; average rate, 6.50%): 6J^%, $110,870.
63 share loans (average, $116 each; average rate, 6.-30%): 63'2%, $7,362.

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

Salaries

Rent

Advertising

$220.00
1.83

$95 00

$25.00

.79

.20

.

Other
Expenses
$526.14
4.16

Total

$866.14
6.98

BOSTON — SUFFOLK CO-OPERATIVE BANK
44

BROMFIELD STREET

Incorporated December 11, 1885.

Began business January

1,

Albert N. Murray, President

1886

Ernest A. Hale, 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. Havey*, Walter Humphreys, E. W. Hunter*, J. H. Miley, A. N. Murray*, C. S.
Patten*, S. C. Sperry, H. A. Stockwell, George Taylor, A. M. Wyman.
Regular meetings for receipt of moneys second

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

.....

11,

1926

Liabilities

,368,020
74,875
19,130
2,585
5,022
7,000
73,931

00
00
00
00

Dues capital
Profits capital

87

Paid-up

00
40

Guaranty fund

....
...
....

Matured share

certificates
share certificates

.

.

$1,695,627
272,017
1,073,600
361,400

Forfeited share account

Surplus

Due on uncompleted

loans

90 52
36,210 52
20,869 07
73,100 00

.

Dividends on matured share

certifi-

cates

13,131 88

Dividends on paid-up share

certifi-

4,517 50

cates

$3,550,564 27

$3,550,564 27

Issued during year

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

Forfeited during year

....
—

Membership

Shares

Withdrawn during year

00
78
00
00

Members
Members who

17,307
9,061
2
2,833
46,002
20,062
5,368
1,807

Holders

of:

are borrowers

Unmatured shares
Matured share certificates

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in February, May, August, November.

4.190

974

.

3,498

970
286

.

Paid-up share certificates

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term, 1}4%',

1M%:

second term, 1J^%; third term,

fourth term,

1^%-

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
each; average rate, 5.96%) 5J^%, $204,400;
3SS share loans (average, $196 each; average rate, 6%): 6%, $74,875.
31 loa7is on matured share certificates: 6%, $19,130.
7 loans on paid-up share certificates: 6%, $2,585.

691 real

estate loans {average, $4:,874:

:

6%,

$3,163,620.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$11,697.36
3.29

$4,719.60
1.33

$3,109.33

* Security

Committee.

.88

Other
Expenses
$10,777.99
3.03

Total
$30,304.28
8.53

P.D.

8,

Part III.

47

"

BOSTON — TELEPHONE WORKERS CO-OPERATIVE BANK
119
Incorporated

MILK STREET, ROOM

March

20, 1925.

109

Began Business

April 30, 1925

William B. Brigham, Treasurer

Charles F. Donahoe, President

Charles F. Donahoe, Assistant Treasurer

Board of Directors: W. Brennan, W. B. Brigham, W. L. Broder*. Lillian F. Capeless, J. J. Coughlin, H. B.
Crawford, Rose A. Davis, C. F. Donahoe, R. M. Eastman, R. Farnham, F. D. Field, Nina C. Gordon,
C. W. Grad, J. J. Hartin, J. R. McLeish*, C. H. Morgan, H. W. Sawyer*, E. L. Shanney, A. E. Whiton,
B.

M. Wood.
Regular meetings for receipt of moneys

last business

day

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

30,

1926

P-D.

48

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

Part

8,
11,

....

III.

1926

Liabilities

Assets

Dues

00
00
00
00
323 36
2,305 55
86,887 18

Surplus

00
44
00
00
503 84
19,904 33
16,190 54

Interest

24,817 16

Fines
Transfer fees

499 34
10 75
350 88
80,000 00
15,000 00
142 50
308 14
64 17

$1,053,045
200,651
944,600
130,000

capital
Profits capital

$2,337,225
41,577
12,865
4,905

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

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund

Withdrawal

profits
Bills payable for money

Due on uncompleted

borrowed

loans

Security committee

....

Personal accounts
Suspense

.

$2,486,088 09

$2,486,088 09

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

....
—

Membership

Shares

Members
Members who

14,412
Issued during year
4,634
Withdrawn during year
40
Forfeited during year
3,391
jMatured during year
28,509
Shares in force
14,461
Shares now pledged
4,723
Matured shares represented by certificates
650
Paid-up shares represented by certificates
New series issued in March, June, September, December.

Holders

of:

2,757

747

are borrowers

Unmatured shares
Matured share certificates

2,221

709
135

.

Paid-up share certificates

.

Profits Distributed
Unmatured Shares and Matured Share
First term,

iyg%; second term,

15^%; fourth term,

Certificates

\%%;

third term,

\%%.

Paid-up Share

Certificates

First term, 1}4%; second term,
lJi"c; fourth term, IM'-o-

1H%;

third term,

Proportion of profits retained on voluntary withdrawals, 20%.

Rates and Averages on Loans
633 real estate loans (average. $3,692 each; average rate, 6%): 6%, $261,195; 63^%. $2,076,030.
246 share loans (average, $169 each; average rate, 6%) 6%, $41,577.
43 loans on matured share certificates: 6%, $12,865.
9 loans on paid-up share certificates: 6%, $4,905.
:

Total Expenses for Year
Salaries

Amount

$7,461.14
3.00

paid for
Cost per $1,000 of assets
.

Rent

Advertising

$2,748.59
1.10

$1,853.16

Other
Expenses
$3,349.76
1 34

.75

.

Total
$15,412.65
6 19
.

BOSTON — UNION CO-OPERATIVE BANK
TREMONT STREET

73

Incorporated June 30, 1911.

Edward

Began business September

13,

1911

Morris Bernstein, Treasurer

E. Ginsburg. President

Directors: Morris Bernstein*, A. F. Bianco, J. A. Borgatti, Benjamin Darena, H. Delle Donne, A. R.
Frederick, Gabriel Giarla, E. E. Ginsburg*, T. C. Horgan, Louis Jacobvitz*, Van Courtlandt Lawrence,
Thomas Nutile, J. A. O'Hearn, Warren Patten, A. E. Salmon, M. J. Sawyer*, W. E. Selden, I. W. Shapira*, C. B. Strout.

Board of

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

Committee.

P.D.

8,

49

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

1926

18,

Liabilities

$1,250
311,550
15,440
150
7,385

Dues

00
00
00
00
86

S21 5,980 00
52,627 23
85,600 GO

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share account

303 17
57 50
34,577 96

400 00
503 81
25
22
40
64
89 16
191 58
500 00
30 00
575 20

.

4,015
3,897
2,653
3,651

.

Guaranty fund
Surplus
Interest

....

Fines
Witlidrawal profits

Due on uncompleted

loans

Security committee

Reserve fund
$370,714 49

$370,714 49

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

....
—

Membership

Shares

Members
Members who

Issued during year
2,332
873
Withdrawn during year
41
Forfeited during year
267
Matured during year
5,054
Shares in force
Shares now pledged
2,079
Matured shares represented by certificates
428
2
Paid-up shares represented by certificates
New series issued in March, June, September, December.

488

are borrowers

105

Unmatured shares
Matured share certificates

444
77
2

Holders

of:

Paid-up share

.

certificates

Profits Distributed
Shares and Matured Share Certificates
third term,
11^%; fourth term, VA%.

U iiniatured

lJi%; second term, l}-^%;

First term,

Paid-up Share

Certificates

\}4%; second term, 1}^%;
lk'%; fourth term, l}i%.

First term,

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.

third term,

15% on

series

Rates and Averages on Loans
76 real estate loans (average, m,099 each; average rate, 6.56%): 6%, $33,900: 6,^%, $203,100; 7%, $74,550.
58 share loans (average, .$266 each; average rate, 6%): 6%, $15,440.
1 loan on paid-up share certificates: 6%, $150.

Total Expenses for Year
Salaries

Amount

$395.00
1.07

paid for
Cost per $1,000 of assets
.

Rent

Advertising

$352 67

$183.90

.95

.50

.

Other
Expenses
$587.06
1.58

Total
$1,518.63
4.10

BOSTON — VOLUNTEER CO-OPERATIVE BANK
120
Incorporated

John

J.

November

TREMONT STREET
16, 1887.

Began

bu-siness

May
Directors:

1,

1888

James B. Dooley, Treasurer

Delea, President

Board of

January

B. Grant, Assistant Treasurer

George Adams, W. B. Buckley, H. G. Burgess, J. F. Crowley, J. J. Delea, J.
T. A. Fitzgerald, W. A. Leonard*, D. F. McCormack*, O. T. O'Leary,
Rudd*, A. H. Sibley.

W.

J.

B. Doolev,

E.

J. Ripley, J. J.

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

Committee.

J.
J.

Devcreux,
A. Reed*,

P.D.

50

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

20,

....

Assets

Part III.

8,

1926

Liabilities

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

$10,516,450
199,725
25,925
2,250
3,016
198
236,685

00
00
00
00
89
59
30

Dues capital
Profits capital

certificates
share certificates

Paid-up

Forfeited share account

Matured share account
Guaranty fund
Surplus
Interest

Fines
payable for

money borrowed
Due on uncompleted loans

11

00
82
75
11,

00
00
448 43

Bills

Personal accounts

00
32
00
00
24

$5,391,503
1,012,313
3,451,200
295,800
1,219
12,409
300,000
19,277
57,762
1,342
350,000
90,975

Matured share

.

$10,984,250 78

$10,984,250 78

....
—

Membership

Shares
Issued during year

49,057
25,710
319
8,170
132,287
60,899
17,256

Withdrawn during year
Forfeited d\iring year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
1,479
Paid-up shares represented by certificate:
New series issued in January, April, July, October.

Members
Members who
Holders

of:

12,699
3,469

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

10,296
2,773

.

250

certificates

Profits Distributed

Unmatured Shares and Matured Share
First term,

X%%\

second term,

l%%;

Certificates

third term,

1?^%; fourth term, \Vs%.
First term,

1M%;

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

1M%;

fourth term,

1M%-

Proportion of profits retained on voluntarj- withdrawals, none.

Rates and Averages on Loans
,494 each; average rate, 5.97%): 5%, $3,300;
3,010 real estate loans (average,
$9,922,650.
1,730 share loans (average, $115 each; average rate, 6%): 6%, $199,725
49 loans on matured share certificates: 6%, $25,925.
3 loans on paid-up share certificates: 6%, $2,250.

5J^%, $590,500;

6%,

Total Expenses for Year

Amount

paid for

.

Salaries

Rent

Advertising

Other
Expenses

$18,459.25

$3,212.16

$1,380.82

$4,995.21

28,047.44

.29

.13

.45

2.55

Cost per $1,000 of assets

Total

BOSTON — WEST ROXBURY CO-OPERATIVE BANK
31

ST.

JAMES AVENUE, BOSTON

(Other authorized locations for the receipt of moneys: 689 Centre Street, Jamaica Plain, and
1908 Centre Street, West Roxbury; 1 Belgrade Avenue, Roslindale; 555 Columbia Road, 1438
Dorchester Avenue, Dorchester; 67 Milk Street, Boston, and 3 Dexter Row, Charlestown)
Incorporated February

1,

1881.

Began business March

3,

1881

Frank

Francis A. Morse, President

S.

Mason, Treasurer

Directors: W. K. Burlen, W. E. A. Clough, W. F. Cook, C. R. Gow, H. L. Hammond, I. G. Hersey,
Jr.* C. L. Hill, A. W. Joslin*, W. M. Kingman, F. S. Mason, F. A. Morse, C. J. Nichols, W. A. Parsons,
E. L. Prescott, Benjamin Proctor, Jr., J. T. Whitman*.

Board of

Regular meetings for receipt of moneys the

first

* Security Committee.

Thursday

of

each month.

P.D.

8,

Part III.

51

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Unpaid interest
Insurance and taxes paid
Cash

7,

1926

Liabilities

$3,842,850
50,050
6,000
2,050
6,075
12,272

Dues

00
00
00
00
00

capital
Profits capital

17

Matured share account
Guaranty fund

404 12
101,446 39

$1,801,379
348,256
1,443,600
236,800
1,824
22,969
52,163
30,471
62,807

.

Matured share
Paid-up

Forfeited share account

.

.

Surplus

Due on uncompleted
Personal actcounts

00
51

00
00
07
20
40
95
20
582 48

certificates
share certificates

loans

.

Other liabilities
Dividends on matured share

4,087 31
certifi

cates

13,859 06

Dividends on paid-up share

certifi

cates

2,317 50

$4,021,147 68

$4,021.147 68

....
—

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
New series issued in February, May, August,

,976
,758

230
,622

Members
Members who

972

Matured share

,384
,218

Paid-up share

3,500
1,062

certificates
certificates

200

Profits Distributed

184

No-

vember.

4,658
1,075

are borrowers
Holders of:
LTnmatured shares

Unmatured Shares
First term,

nie%;

1H%;

second term,

fourth term,

1%6%.

Mahired Share
First term, 1^1(1%;

1H%;

third term,

Certificates

.second term,

iyia%; third term,

1^16%; fourth term, 1%6%.

Paid-up Share Certificates
1J^%; second term, l}i%;
fourth term, lH7o-

First term,

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

15% on

series less

third term,

than 6 years old; after 6 years,

Rates and Averages on Loans

6%

(average, $4,105 each; average rate, 6.29%): 5%, $126,400; 5J^%, $268,100;
$697,600; 6i-^%, $2,750,750.
216 share loans (average. $231 each; average rate, 6.16%); 5%, $50; 5K%, $1,150; 6%, $6,750; 6}4%,
$42,100.
]5 loans on matured share certificates: 6%, $300; 6}^%, $5,700.
3 loans on paid-up share certificates: 6^2%, $2,050.

936

real estate loans

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

Salaries

Rent

$12,444.95
3.09

$3,438.-56
.85

P.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

8,

52

Assets

Loans
Loans
Loans
Loans

.

.

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

....

Personal accounts

Cash

.

192G

Liabilities

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

Part III.

$17,934,040
330,550
12,300
17,750
10,049
530,137
10,214
14,103
33
112
482,585

00
00
00

Dues

00

Paid-up

17
16

Forfeited share account
Matured share account

04
36
57
25
48

Guaranty fund

capital
Profits capital

$11,290,023
1,940,693
3,256,800
1,935,400
9,858
9,827
276,496
228,442
176,611
4,195
21
207,930
2,949
163
1,802

.

Matured share

certificates
share certificates
.

.

Surplus
Interest

Fines
Transfer fees

Due on uncompleted

loans

Security committee

Personal accounts

.

Rent and income
Real estate by foreclosure

14

00
00
16

88
75
26
91

89
50
00
50
71

46
202 33
456 54

.

Other

00

liabilities

$19,341,875 03

$19,341,875 03
I

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

....
—

Me mbership

Shares

Members
Members who

66,102
Issued during year
46,673
Withdrawn during year
709
year
during
Forfeited
_8,883
Matured during year
255,803
force
in
Shares
103,343
Shares now pledged
16,284
Matured shares represented by certificates
9,677
Paid-up shares represented by certificates
DeSeptember,
June,
March,
in
issued
series
New
cember.

Holders

of:

20,721
5,465

are borrowers

Unmatured shares
Matured share certificates
Paid-up ihare

18,374
2,265
1,836

.

certificates

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term, 114%',

second term, 1J^%; third term,

1J€%; fourth term,

1M%.

Proportions of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
each; average rate, 5.91%): 5%, $546,800; 5M%, $449,200; 5)4%,
$1,222,040; 5^4%, $1,000; 6%, $15,715,000.
average rate, 5.98%): 5%, $1,650; 5}i%, $1,600; 5i^%, $2,650;
each;
(average,
$215
loans
share
536

A S59 real
1

estate loans (averAse, $S,Q34:

6%,

$324,6.50.

39 loans on matured share

certificates:

50 loans on paid-up share

certificates:

6%,
6%,

$12,300.
$17,750.

Total Expenses for Year

Amount paid

for

Cost per $1,000

.

.

of assets

Salaries

Rent

Advertising

Other
Expenses

Total

$51,080 89

$12,000.00

$540.85

$10,923.40

.$74,545.14

2.64

.62

.03

.56

3.85

BRAINTREE — BRAINTREE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Braintree National Bank, Elm Street, Braintree, Old Colony Trust Company, 17 Court Street, and 167 Summer Street, Boston.)
Incorporated June 24, 1889.

James H.

Began business October

15,

1889

Charles B. Cummings, Treasurer

Kilbrith, President

Board of Directors- H. B. Blewett, G. T. Burnham, J. B. Crowe, C. B. Cummings*, C. R. Cummings, H. W.
Doane Marion C Gillett, D. B. Hall, H. D. Higgins, L. S. Joslin, J. H. Kilbrith*, Roger Lakin*, Joseph
Landers O B Oakman, F. G. Pennock, N. P. Potter, W. A. Ross, G. E. Sampson, H. S. Snow, G. W.
Stevens 'C A Sullivan, J. H. Sullivan, L. W. Thayer, H. L. White, R. E. Whitman, H. W. Woodworth.
Regular meetings for receipt of moneys, third Tuesday of each month.
* Security

Committee.

P.D.

8,

Part III.

53

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

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

19,

1926

Liabilities

,314,550 00
13,700 00
1,760 00

463 35
2,372 92
96 34
41,234 39

.....

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Premiums
Fines

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans
Bills

....

Security committee

Suspense
$1,374,177 00

....
—

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
New scries issued in June, December.

5,125
1,791
53
1,294
13,908
7,199
2,374
155

Members
Members who
Holders

of:

are borrowers

.

Unmatured shares
Matured share certificates
Paid-up share

certificates

Profits Distributed

Unmatured Shares
First term,

First

3%; second

term,

3%.

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

First term,

Certificates

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

.Sfi.30,314

54

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Part III.

8,

1926

18,

Liabilities

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

$395,640 00
3,470 00
758 11

....

8 19
9,003 48

Dues capital
Profits capital

$246,877
44,682
57,400
38,200
225
7,519
3,451
9,722
364

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

18

03
75
36 20
400 GO

,

.

Withdrawal profits
Due on uncompleted loans
$408,879 78

00
49
00
00
50
80
83

$408,879 78

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
New series issued in June, December.

1,214

482
20
135

Members
Members who
Holders

are borrowers

Unmatured shares
Matured share certificates

5,611
2,135

Paid-up share

552
183

....
...

of:

certificates

287

.

.

.

507
55
27

...

Profits Distributed

191

Unmatured Shares

3%; second

First term,

term,

3%.

Matured and Paid-up Share

Proportion of profits retained on voluntary withdrawals,
none.

25%

Certificates

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

First term,

on series

les.s

than 5 years old; after 5 years.

Rates and Averages on Loans
187 real estate loans (average, $2,116 each; average rate, 6%): 6%, $395,640.
20 share loans (average $174 each; average rate, 6%): 6%, $3,470.

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

Salaries

Rent

Advertising

$1,293.46
3.17

$240.00

$70.06
.17

Other
Expenses
$408.97
1.00

Total
$2,012.49
4.93

BROCKTON — CAMPELLO CO-OPERATIVE BANK
Incorporated October

Edward H.

3,

1877.

Began business October

1877

S,

Frank W. Clark, Treasurer

Keith, President

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.

Board of

Directors: L.

H. Carr, F.

Regular meetings for receipt of moneys the second

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

.....

11,

1926

Liabilities

Dues capital
Profits capital

00
00
00
00
800 00
5,071 00

Guaranty fund

1,799 89

Surplus

$4,558,400
117,650
2,650
3,800

97 68
99, .504 11

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Interest

Fines

.

....

Withdrawal profits
Due on uncompleted loans
Legal account

$4,789,772 68

* Security Committee.

$2,882,976
637,216
673,000
455,400

00
50

00
00

46 78
78,500 00
30,814 17
19,137 80
464 62
928 90
8,595 00
2,692 91

$4,789,772 68

P.D.

8,

Part III.

55

.....
Membership

Shares
Issued during year
Forfeited during year

98

Matured during year
Shares in force
Shares now pledged

1,634
50,611
27,240
3,365
2,277

Matured shares represented by
Paid-up shares represented by

New

Members
Members who

10,497
6,920

Withdrawn during year

certificates
certificates

Holders

— are borrowers

of:

4,355
1,762

.

Unmatured shares
Matured share certificates
Paid-up share

4,108

425
305

certificates

Profits Distributed

series issued in April, October.

Unmatured
First term,

3%; second

Matured Share
First term,

2%%;

Share.t

term,

3%.

Certificates

second term,

2U%.

Paid-up Share Certificates
First term, 2K%; second term, 2}4%.
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.

10% on

series

;

Rates and Averages on Loans
1,794 ^sol estate loans (average, $2,541 each; average rate,
411 share loans iavBTage, $286 each; average rate, 6%)
9 loans on matured share certificates: 6%, $2,650.
10 loans on paid-up share certificates: 6%, $3,800.
:

6%): 6%, $4,558,400.

6%,

$117,650.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

$9,016.00
1.88

$1,170.00

$24.90

$2,912.34

.24

.01

.60

Total
$13,123.24
2.73

BROCKTON — MONTELLO CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: W. L. Douglas Shoe Co., E. E. Taylor Co., and
Geo. E. Keith Co.)
Incorporated Augu.st 11. 1911.

Began business September

Walter E. Johnson, President

14, 1911

Arvid E. Wetzell, Treasurer

of Directors: S. P. Alden, D. W. Battles, William Cochran, W. R. Cook, J. J. Cooper, J. L. Emery*,
H. Gordon, E. L. Gowdy, W. F. Hall*, H. C. Johnson, W. E. Johnson, P. S. Jones, M. D. Long, W. L.
Merrill, A. E. Nelson, R. A. T. Nelson, C. D. Nevins, J. B. Nye*, A. R. Perkins, F. L. Price, C. C. Reed,
B. J. Torrey, E. L. Tribou, A. E. Wetzell.

Board

J.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

fines

....

certificates

Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash
.

.

.

14,

1926

Liabilities

$1,097,650 00
14,365 00
975 00
10 38

225 00
1,060 50
80 64
45,394 63

Dues capital
Profits capital

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

.

* Security

00
13

00
00
00
48
18,819 35
8,014 59
2 25

Transfer fees

Withdrawal profits
Due on uncompleted loans
Due on foreclosure sale
$1,159,761 15

$505,455
97,343
434,600
63,800
54
19,225

286 79
12,050 00
110 56
$1,159,761 15

Committee.

P.D.

56

Part III.

8,

....

Membership

Shares
3,363
2,113

Issued during year

Withdrawn during year

43
807

Forfeited during year

.....

Matured during year
Shares in force
Shares now pledged

1

1,759
6,012
2,173

Matured shares represent,ed by certificates
319
Paid-up shares represented by certificates
New series issued in March, June, September December.

Members
Members who
Holders

of:

1,182

— are borrowers

Unmatured shares
Matured share certificates
Paid-up share

440
968
301

.

44

certificates

Profits Distributed

Unmatured Shares and Matured Share
First term,
1

1%%;

second term,

^8%; fourth term,

First term,

1M%;

1

Certificates

l%%;

third term,

ys%.

Paid-up Share Certificates
second term, lJi%; third term,

1K%;

1M%.

fourth term,

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.

10% on

series

Rates and Averages on Loans
$2,807 each; average rate, 6%): 6%, $1,097,650.
99 share loans (average, $145 each; average rate, 6%): 6%, $14,365.
share
certificates: 6%, $975.
£ loans on matured

391 real

estate loans (average,

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

$215.92

Other
Expenses
$978.17

Total
$5,771.02

.19

.84

4.98

Salaries

Rent

Advertising

$3,976.05
3.43

$600.88

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

Began business December

20, 1877

Grant D. Anthony, Treasurer

Bernard B. Winslow, President
Milton E. Smith, Assistant Treasurer

Board of Directors: G. D. Anthony, J. T. Corcoran*, H. S. Crocker, C. W. Dailey, Fred Drew, G. N. Gordon,
J. H. Gordon, M. J. Gordon, S. M. Havward*, J. N. Howard, ,1. J. Hurlev, Kenneth McLeod, J. B. Nve,
David Perkins, H. A. Poole*, F. M. Sherburne, G. A. Thatcher, E. M. Thompson, 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 BUSINESS, OCTOBER
Loans
Loans
Loans
Loans

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

.

Unpaid

fines

.

....

Real estate by foreclosure,

etc.

$5,518,350
112,220
10,140
5,700
4,030

00
00
00
00

Dues capita!
Profits capital

54

Forfeited share account

282 08
2,902 24
1,209 30
67,137 90

Temporar.v expense account
Insurance and taxes paid

Cash

1926

21,

Liabilities

Assets

.....

$2,856,424
563,045
1,465,600
552,000
23
126,590
105,176
39,325
5
13,782

.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus
Interest

Transfer fees

Due on uncompleted

loans

34
37

75
00

$5,721,972 06

$5,721,972 06

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

00
60
00
00
00
00

......
—
Membership

Shares

16,071
Issued during year
10,148
Withdrawn during year
141
Forfeited during year
2,654
Matured during year
62,963
Shares in force
31,029
Shares now pledged
7,328
Matured shares represented by certificates
certificates
2,760
by
represented
shares
Paid-up
New series issued in March, June, September, December.

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
.

Paid-up share

certificates

.

.

.

5,995
1,885

.

.

.

.

.

4,988
1,069

.

.

.

563

.

Profits Distributed
First term,

V nmatured Shares
1%%; second term, 1%%;
1H%.

third term,

lVs%: fourth term,

Matured and Paid-up Share

1H%<

second term,
First term,
IH'/c; fourth term,

Ui%.

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

Certificates

1M%;

third term,

P.D.

Part

8,

57

III.

Rates and Averages on Loans
1,653 real estate loans (average, $3,553 each; average rate, 5.96%): 5)4%, $419,400; 6%, $5,098,950.
509 share loans (average, $220 each; average rate, 5.99%); 5}4%, $1,710; 6%, $110,510.
S8 loans on matured share certificates: 6%, $10,140.
S3 loans on paid-up share certificates: 6%, $5,700.

Total Expenses for Year
Other

Amount paid

for
of assets
.

.

Cost per $1,000

Salaries

Rent

Advertising

Expen.se3

$11,623.58
2.03

$3,889.28

$1,914.59

.68

.33

.$4,788.16
.84

Total
22,215.61

3.88

BROOKLINE — BROOKLINE CO-OPERATIVE BANK
Incorporated March

John W.

Shields, President

Board of

Directors:

13, 1S95.

Began business

May

1895

2,

Anna N.

Patten, Treasurer

C. A. Bowditch*. C. A. Delano*. Dennis Driscoll*, F. W. Files*, C. A. Leavitt, E. B.
Moore, W. D. Paine*, J. W. Shields*, H. A. Varney.

Regular meetings for receipt of moneys the

first

Thursday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

7,

$25,000 00
1,869,275 00

49,850 00
1,577 69
189 34
2,890 97

.

....
....

Dues capital
Profits capital
Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guarantv fund
Surplus

.

.

Due on uncompleted

.

.

.

.

.

.

.

.

loans

.

Dividends on matured share

$1,267,979
252,619
161,000
190,600
1,015
30,394
20,349
20,100

certifi-

2,382 50

cates

$1,948,783 00

$1,948,783 00

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

....
—

Membership

Shares

Forfeited during year

Matured during year

17

2,342 06

Dividends on paid-up share

Issued during year

00
00
00
62
73
92
00

certifi-

cates

Withdrawn during year

1926.

Liabilities

6,309
3,723
56

Members

527

Unmatured shares
Matured share certificates

2,036
151

995

Shares in force
27,082
Shares now pledged
10,356
Matured shares represented by certificates
805
Paid-up shares represented by certificates
953
New series issued in February, May, August, No-

vember.

2,167

IMembers who are borrowers
Holders of:
Paid-up share

146

certificates

Profits Distributed

Unmatured Shares and Matured Share

1?^%; second term,
lJi%.

First term,

!%%,

Certificates

third term,

1^-8'%; fourth term,

Paid-up Share

Certificates

1J^%; second term,
fourth term, 11^%.

First term,

1M%:

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans
464

real estate loans

(,a.\-eTa,ge.,

m,02Q each; average

rate,

5.91%): 5i/2%, $133,400; 6%,

131 share loans (average, $381 each; average rate, 5.99%);

5H%,

$150;

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of assets
.

6%,

$49,700.

1J^%;

third term,

P.D.

58

Part III.

8,

BROOKLINE — COOLIDGE CORNER CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 209 Washington Street, Boston)
Incorporated June 23, 1920.

Began business June

23,

1920

George R. Slader, Treasurer

James D. Henderson, President

W. D.

Allen, Samuel Barkin, G. M. J. Bates*, A. M. Berger, B. G. Carlson*, A. J. Caulfield, Eric Courtney, A. P. Crosby*, Earl Davidson, W. J. Davidson, R. C. Floyd, E. A. Hale, J. S. Hathaway, J. D. Henderson*, J. H. Henderson, M. D. Mealey, F. A. Niccolls, C. A. Norwood, W. W. Paige*,
J. M. Pullman, G. H. Richardson, D. A. RolHns, G. R. Slader, William Smith, Jr., E. H. Sondheim, W. H.
Stevens, E. L. Sturtevant, J. E. Thomas, G. H. Wyman.

Board of Directors:

Regular meetings

for receipt of

moneys the

third

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Temporary expense account
Cash

....

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

20,

1926

Liabilities

.S464,650 00

13,334 00

325 73
4,187 70

Dues capital
Profits capital
Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines

.....

Withdrawal

profits

money borrowed
Due on uncompleted loans
Bills

payable for

Security committee
Overs and shorts

$482,497 43

'.

$364,807 00

P.D.

8,

Part III.

59

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

13,

Liabilities

Dues

$499,350 00
10,194 00
360 00
22,589 09

capital
Profits capital

$303,489
59,360
156,800
5,203
3,395
2,000
200

.

Matured share certificates
Guaranty fund
Surplus

Due on uncompleted

loans

Security committee

....

Dividends on matured share
cates

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

Withdrawn during year
Matured during year

.

.

13

39
00
00

2,044 91

$532,493 09

....
—

Membership

Shares
.

00
66
00

certifi

$532,493 09

Issued during year

1926

Members
Members who

2,113
1,178

are borrowers

745
183

Unmatured shares
Matured share certificates

660
120

Holders

272

Shares in force
7,063
Shares now pledged
2,894
Matured shares represented by certificate.-^
784
New series issued in February, May, August. November.

of:

Profits Distributed

U nmatured Shares and Matured Share Certificates
First term, 1%%; second term, 1?'8%; third term,
1 %%; fourth term, 1 %%.

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.

15% on

series

Rates and Averages on Loans
i5S 7-ea? esia^e Zoores (average, $3,264 each; average rate, 6.36%)
32 share loans (average, $.319 each; average rate, 6.44%): 6%,
1 loan on matured share certificates: QY2%' $360.

6%,

:

$137,050; 6}4%, $362,300.

$1,2.59;

G}4%,

$8,935.

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

Salaries

Rent

Advertising

S2,079.00
3.91

$162.00

$122.05

Other
Expenses
$830.93

.30

.23

1.56

Total
$3,193.98
6.00

CAMBRIDGE — CENTRAL SQUARE CO-OPERATIVE BANK
Harvard Trust Company, Harvard Square,
Cambridge)

(Other authorized location for receipt of moneys:
Incorporated June 12, 1922.

Henry

Began business June

15,

1922

F. Ramhofer, President

John D. Crowley, Treasurer

Board of Directors: R. A. Ahern, Samuel Anderson, D. A. Buckley, R. R. Cameron, J. A. Carrig*, R. N.
Cazmay, J. D. Crowley, T. F. Downey, H. H. Fiske, C. A. Geilfuss, F. J. Good, J. F. Hayes, C. T.
MacDonald, B. E. McDermott*, E. E. McGonty, D. R. Morgan, E. F. O'Shea, Jr., S. W. Pill, J. W.
Powers*, H. F. Ramhofer, W. H. Reardon, Jr., M. W. Ryan, J. E. Shea, J. J. Shine*, W. J. Whchn, J. F.
White*, J. M. Whouley.
Regular meetings for receipt of moneys the third Thursday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Temporary expense account
Cash

21,

1926

Liabilities

5245,400 00
6,955 00

Dues capital
Profits capital

421 87
7,827 55

Paid-up share

.

certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines

Withdrawal profits
Security committee
Rents
.

$260,604 42

$260,604 42

* Security

$213,873 00
15,991 76
23,600 00
1,246 55
1,194 69
1,885 07
2,489 49
97 60
139 26
12 00
75 00

Committee.

60
Shares

P.D.

8,

61

Part III.
Total Expenses for Year

Amount

paid for

$2,433.12
3.42

.

Cost per $1,000 of assets

$462 80

$11.25

Other
Expenses
$289.61

.65

.02

.41

Rent

Salaries

Advertising

.

Total
$3,196.78

4.50

CAMBRIDGE — INMAN CO-OPERATIVE BANK
Began business July

Incorporated June 16, 1913.
Charles

7,

1913

Edmund

President

S. Cahill,

T.

Howard, Treasurer

Board of Directors: J. J. Boyle, C. S. Cahill*, J. J. Cannev, J. S. Cassedy*, E. A. Counihan, Jr., A. B. Fopiano,
M.' F. Groden, R. L. Ham, M. J. Harty*, W. F. Havertv, E. T. Howard, J. H. Hurley, J. F. Kelley,
Thomas Leighton, Jr., A- E. Lynch*, G. F. McKelleget, L. T. Mylcs, J. H. O'Brien, D. F. Owens, J. J.
Quinlan*, F. F. Rogers,

Jr.,

E.

J. St.

Coeur.

Regular meetings for receipt of moneys the third

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

.....

1926

18,

Liabilities

Dues capital
Profits capital

,564,661 00

$1,001,637
208,487
334,800
64,200

.

54,382 00
5,335 00

Mat\ired share certificates
Paid-up share certificates
Forfeited share account

800 00
444 82

Interest

6,156 21

.

Fines
Transfer fees

126 78
1

Withdrawal profits
Due on uncompleted loans
Security committee

$1,648,497 23

Membership

Shares
Issued during year

Members
Members who

6,368
3,571

Forfeited during year

00

401 50
14,400 00
37 00

$1,648,497 23

Withdrawn during year

12

Surplus

Guaranty fund

22,874 41

00

00
00
548 45
13,280 24
4,421 93

Holders

102

Matured during year

1,443
Shares in force
23,305
Shares now pledged
9,819
Matured shares represented by certificates
1,674
Paid-up shares represented by certificates
321
New series issued in January, April, July, October.

of:

—

1,962
are borrowers

....
.

.

.

Unmatured shares
Matured share certificates

.

.

.

Paid-up share

.

.

.

certificates

539
1,816

249
61

Profits Distributed

Unmaticred Shares
1^%; second term, l}i%; third term,
fourth term, 1}4%-

First term,

13^%;

Matured Share

Certificates

1%%; second term, 15-s%; third term,
fourth term, 15^%.

First term,

1^%;

Paid-up Share

Certificates

134%; second term,
l}i%; fourth term, l}i%-

First term,

1K%;

third term,.

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averag^es on Loans
376 real estate loans (average, $4,161 each; average rate, 6%): 6%, $1,563,461; 7%, $1,200.
22S share loans {average, $245 ea.ch; average rate, 6.01%); 6%, $53,882; 7%, $500.
9 loans on matured share certificates: 6%, $5,335.
1 loan on paid-up share certificates: 6%, $800.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

$4,129.00
2.51

$714.81

$170.89

$1,420.69

.43

.11

.86

* Security

Committee.

Total
$6,435.39
3.91

62

P.D.

8,

Part III.

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

Began business July

9,

1912

Frank E. Viano, President

Edward

Griffin, Treasurer

Bowen, H. C. Brown, H. E. Clark, J. J. Conley, J. W. Connor* J. B. Dore, O. C.
Francis*, T. I. Freeburn, Isidore Gottesman, Edward Griffin, J. H. Harrington, T. E. Kennedy, John D.
I>ynch*, J. D. Lynch, T. W. Lynch, John McKenzie*, C. O. Mason, F. X. Masse, P. J. Nelligan, James

Board of Directors:
Proudfoot, L.

S. P.

J.

Reynolds, E. L. Tyler, A. E. Viano, F. E. Viano*.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

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

Bank

discount

Cash

00
00
00
00
78
230 00
82,275 51

$1,787,850
55,185
10,930
1,015
231

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines

Withdrawal

profits

Bills payable for money borrowed
Due on uncompleted loans

Security committee
Personal accounts

$1,937,717 29

Shares
Issued during year

Withdrawn during year
Forfeited during year

Matured during year

13,

1926

Liabilities

10,359
5,010
57
1,732
26,499
11,227
2,645

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
494
New series issued in January, April, July, October.

.

$1,036,059

P.D.

8,

Part

63

III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Banking house
Unpaid interest
Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash
Loans
Loans
Loans
Loans

1926

13,

....

Assets

Liabilities

$3,651,375
76,485
12,565
2,740
6,633
89,800
9,406
1,360

00
00
00
00

Dues capital
Profits capital

41

Forfeited share account

00

Guaranty fund

18

Surplus

Paid-up

00
763 91
417 79

....

$2,005,091
386,299
1,091,400
208,200
1,006
103,000
3,181
20,056

Matured share

.

Interest

Fines
Transfer fees

Withdrawal

26,897 14

00
19

00
00
88
00
86
85
409 34
25
318 91
50,000 00

certificates
share certificates

profits

payable for money borrowed
Due on uncompleted loans
Bills

9,425 15

54 00

Security committee

$3,878,443 43

$3,878.443 43

Membership

Shares
Issued during year

Members
Members who

12,129
6,589

Withdrawn during year
Forfeited during year

Matured during year
2,287
Shares in force
45,209
Shares now pledged
20,289
Matured shares represented by certificates
5,457
Paid-up shares represented by certificates
1,041
New series issued in January, April, July, October.

—

.

.

Unmatured shares
Matured share certificates

.

.

.

Paid-up share certificates

.

.

.

of:

4,029
1,218

....
.

Holders

77

are borrowers

3,497

801
185

Profits Distributed

Unmatured Shares
l%o; second term, 1%6%;
fourth term, l«/ie%.

First term,

1%6%;

third term,

Matured Share Certificates
l^io%; second term, 1%6%; third term,
fourth term, 1%6-

First term,

1%8%;

Paid-up Share

Certificates

First term, l^i%', second term,
fourth term 1
1 hi

%

Proportion of profits retained on voluntary withdrawals,

25%

on

M%

,

;

series less

than 5 years

1M%;

old;

10%

third term.

thereafter.

Rates and Averages on Loans
891 real estate loans (a.verage, $4,098 each; average rate, 5.93%):
$481,300; 57/10%, $500; 6%, $3,141,075.
715 share loans (average, $107 each; average rate, 6%): 6%, $76,485.
19 loans on matured share certificates: 6%, $12,565.
6 loans on paid-up share certificates: 6%, $2,740.

5%,

5!^%

$27,300;

$1,200;

51^%,

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

Salaries

Rent

$8,580.04
2.21

$2,024.98

$169.00

Other
Expenses
$1,738.18

.52

.04

.45

Advertising

Total
$12,512.20
3.22

CANTON — CANTON CO-OPERATIVE BANK
Incorporated January

10, 1S91.

Began business February

John B. Robinson, President

10,

1891

James E. Grimes, Treasurer

Board of Directors: R. J. Baldwin, F. H. Bisbee, E. C. Britton*, H. B. Capen, H. W. Curtis, J. G. Estey*,
John Everett*, M. H. Galligan, J. E. Grimes, P. M. Leavitt, J. A. O'Leary, J. B. Robinson*, T. I. Sheehan,
L. E. Smith, D. G. Trayers*.
Regular meetings for receipt of moneys the second Tuesday of each month.
* Security

Committee.

64

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

12,

$981,350
29,380
150
900
25,652

....

00
00
00
49
08

Dues capital
Profits capital

$770,672 00
169,017 36
15 00
36,801 84
22,759 24
18,317 00
13,418 59
821 45
384 51

.

Forfeited share account
Matured share account

Guaranty fund
Surplus
Interest

Premiums
Fines
Transfer fees
.

1 00
724 58

Withdrawal profits
Due on uncompleted loans
$1,037,432 57

4,500 00

$1,037,432 57

.....
—
Membership

Shares
Issued during year

2,482
1,377

Withdrawn during year
Matured during year

748

Shares in force
Shares now pledged
series issued in

14,952
5,838

Members
Members who
Holders

of:

are borrowers

Unmatured shares

February, August.

Profits Distributed

Unmatured Shares
second term, 3Vio%.

First term, 3i/io%;

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans

4t5

average rate, 6.30%); 63/io%, $981,350.
69 share loans (average, $426 each; average rate, 6.30%): 63/io%, $29,380.
real estate loans (average, $2,364 each;

Total Expenses for Year
Salaries

Amount

paid for

.

Cost per $1,000 of assets

1926

Liabilities

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

New

Part III.

8,

$1,875.00
l.SO

1,292

484
1,292

P.D.

65

Part III.

8,

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

......
Membership

Shares

Issued during year

Withdrawn during year
Forfeited during year

2,070
1,077
14

317
Matured during year
8,436
Shares in force
3,724
Shares now pledged
899
Matured shares represented by certificates
98
Paid-up shares represented by certificates
New series issued in February, May, August, November.

Members
Members who
Holders

of:

— are borrowers

....

Unmatured shares
Matured share certificates
Paid-up share certificates

.

.

...
.

.

Unmatured Shares and Matured Share

1%%\ second term,
1J^%; fourth term, 1?^%.

First term,

1?^%;

1M%;

1^%-

Rates and AveraE^es on Loans
$2,067 each; average rate, 6.28%): 6%, $443,750;
share loans (average, $343 each; average rate, 6%); 6%, $15,784.
loan on matured share certificates: 6%, $900.
estate loans (average,

Total Expenses
Salaries

Amount

paid for

Cost per $1,000

.

of assets

99
4.34

.$2,818

777
133
15

Certificates

third term,

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

fourth term,

Proportion of profits retained on voluntary withdrawals, none.

4.6
1

.

875
339

Profits Distributed

First term, 1)4,%',

298 real

.

7%,

$172,325.

P.D.

66

Part III.

8,

Rates and Averages on Loans
414

'6'J'

,405 each;

estate loans (average
$1,297,450.

108 share loans (average, $413 each; average

5%,

average rate, 5.95%):
rate,

$4,300;

6%,

5J^%, $107,650;

6%): 6%, $44,630.

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

Salaries

Rent

Advertising

$5,025.25
3.25

$903.04

$598.75

.58

.39

Other
Expenses

Total

$2,541.74
1.64

$9,068.78
5.86

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

Thomas

Began business March

8,

1920

Daniel H. Sullivan, Treasurer

F. Driscoll, President

Board of Directors: J. M. Bloomberg, Campbell Bosson. W. F. Callahan, J. J. Carroll, T. F. Driscoll, J. J.
Foley, G. W. Ford*, C. A. Malone, .1. J. McBride, D. J. McCarty, C. J. McDonough, W. J. Murdock,
J.

F Murphy,

J. L.

Murphy,

F.

W.

Proctor,

Jr.,

Julius Rosenberg, Abraham Salter, Joseph Slotnick, J. M.
J. F. Sullivan, J. F. Tierney*, Maurice Tobey, E. J.

Smith, Daniel H. Sullivan*, D. Henry Sullivan,
Yoke, J. F. Webber.

Regular meetings for receipt of moneys the second

Monday

of

each month.

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

.

.

.

1926

11,

Liabilities

Assets

.

$231,150 00
5,950 00
27 05
3,899 62

Dues capital
Profits capital

$185,792 00
24,118 00
16,000 00
456 29
2,098 84

.

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus

5,802 11
2,905 36
41 26

Interest

Fines
Transfer fees

Withdrawal
Bills

Due

25

.

62 56

profits

payable for money borrowed
on uncompleted loans

2,600 00
1,150 00

$241,026 67

$241,026 67

....
—

Membership

Shares
Issued during year

1,342

Withdrawn during year

761
50
Forfeited during year
5,097
Shares in force
1,506
Shares now pledged
80
Paid-up shares represented by certificates
New series issued in March, June, September, December.

Members
Members who
Holdens

of:

517
107

are borrowers

Unmatured shares
Paid-up share

507
19

certificates

Profits Distributed

Unmatured Shares
First term,

1H%;

1%%;

second term,

fourth term,

First term,

1^%-

1%%;

third term,

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

1M%;

134%; fourth term, 1J^%.
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.

15% on

series

Rates and Averages on Loans
S5 rea/ esio^e /oores (average, $2,719 each; average rate, 6.86%): 6%, $27,-300; 6)^%,
£3 share loans (average, $270 each; average rate, 7%): 7%, $5,950.

.$8,500;

7%,

$195,.3.50

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$866.66
3.59

$420.00
1.74

* Security Committee.

Advertising

$80.25
.33

Other
Expenses
$303.97
1.26

Total

$1,670.88
6.92

P.D.

8,

67

Part III.

CHESTER — CHESTER

CO-OPERATIVE BANK

Incorporated December 31, 1923.

Began business January

Board of Directors:
C. F. Pease*,

10,

1924

Alfred E.

Frank Fay, President

Hemenway,

Treasurer

E. Cooney, S. J. Donnelly*, Frank Fay, John Hakola, A. E. Hemenway, J. H. Keefe,
E. Ranta, J. L. Ripley, Thomas Rose*, L. N. Smith, W. H. Stevens, M. W. Terrill.

J.
J.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on

.

$43,500 00
2,190 00
55 64

real estate

Loans on shares
Temporary expense account
Cash
.

.

.

14,

1,770 21

,

Dues capital
Profits capital
Surplus

$40,536 00
1,924 37
3,600 00
142 65
377 87

Interest

862 40

.

Paid-up share certificates
Guaranty fund
Fines
Transfer fees

30 21

25

Withdrawal profits
Security committee

12 10

30 00
$47,515 85

$47,515 85

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

269
437

Withdrawn during year
Shares in force
Shares now pledged
Paid-up shares represented by certificates
New series issued in January, July.
.

.

.

....
—

Membership

Shares

Issued during year

1,655

416
IS

Members
Members who
Holders

of:

are borrowers

on voluntary withdrawals,

25%

of the last distribution.

6%) 6%, $43,500.
6%, $2,190.
:

Total Expenses for Year
Salaries

Amount

paid for

.

Cost per $1 ,000 of assets

$85.00
1.95

Rent

Certificates

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

Rates and Averages on Loans
21 real estate loans (average, $2,071 esich; average rate,
16 share loans (average, $137 each; average rate, 6%);

37

204
5

shares
Paid-up share certificates

Profits Distributed
Unmatured Shares and Paid-up Share

of profits retained

208

.

Unmatured

First term,

Proportion

1926

Liabilities

Assets

P.D.

68
Shares

8,

Part III.

P.D.

8,

69

Part III.

Rates and Averages on Loans
SS6 real estate loans (.avorage, $2,508 each; average rate, 5.94%) 5%, $27,500;
82 share loans (average, $294 each; average rate, 6%): 6%, $24,078.
2 loans on matured share certificates: 6%, $1,400.
3 loans on paid-up share certificates: 6%, $260.
:

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

5M%.

$7,100;

0%, $532,130.

70

P.D.

8,

Part III.

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

Began business October

Hubbard, President

20,

1887

Charles L. Stevens, Treasurer

Katherine T. Durkin, Assistant Treasurer

Cannon, W. J. Cox, H. E. Greenwood, C. H. Hastings, Charles Heinritz, L. M.
N. L. Howe*, W. L. Hubbard, G. C. Hudson*, E. H. Jaquith, H. W. Pickford, B. D. Richter,

Board of Directors: P.
Hills,

J.

C. L. Stevens*, A. R. Stevenson, F. F. Wallace.

Regular meetings for receipt

of

moneys the

third

Thursday

month.

of each

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets
:,287,105 00

Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Temporary expense account

25,812 00
400 00
10,434 75
1,077 45
89 28
28,513 05

.....

Personal accounts

Cash

21,

1926

Liabilities

.

Dues capital
Profits capital

$1,066,216
219,005
800,600
143,200

Matured share

certificates
share certificates

Paid-up

00
71

00

00
48 36

Forfeited share account

Guaranty fund

32,081 48
28,068 96
13,424 62

Surplus
Interest

Fines
Transfer fees
Bills payable for

413 90

.

1 60
40,000 00
10,350 00

money borrowed

Due on uncompleted

loans

Security committee

21 00

$2,353,431 53

$2,353,431 53

....
—

Membership

Shares
Issued during year

Alembers

7,741
4,355
6
1,457
25,083
12,763
4,003

Withdrawn during year
Forfeited during year

Matured during year

Members who

787

Unmatured shares
Matured share certificates

1,994
691

Holders

Shares in force
Shares now pledged
Matured shares represented by certificates
716
Paid-up shares represented by certificates
New series issued in January, April, July, October.

2,425

are borrowers

of:

Paid-up share

.

136

certificates

Profits Distributed

Uyimatured Shares and Matured Share Certificates
1M%\ second term, 13^%; third term,

First term,

13^%; fourth term, 1>^%.
Paid-up Share

Certificates

1M%; second term,
fourth term, 134%.

1M%;

First term,

1H%;

third term,

Proportion of profits retained on vohmtary withdrawals, none.

Rates and Averages on Loans
719

real estate loans

(average, $3,181 each;

average rate, 6.84%):

53^%,

3,675;

6%,

$144,200;

7%,

S2,002,230.

55 sAaretoares (average, $.397 each; average rate, 6.99%); 53^%, $75; 6%,
3 loans on matured share certificates, 7%, $400.

);

7%,

$25,637.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets

CLINTON

Salaries

Rent

$5,952.15
2.52

$750.11

$153.06

Other
Expenses
$1,813.50

.32

.06

.77

— WACHUSETT

Incorporated March

James

J.

6,

1913.

Advertising

Total
$8,668.82
3.67

CO-OPERATIVE BANK

Began business March

13,

1913

Lyman

Goodwin, President

C. Ayers, Treasurer

C. Millie Leighton, Assistarit Treasurer
L. C. Avers, G. A. Brown, H. A. Burdett, J. H. Coughlin, J. M. DonW. Forrester, J. F. Fuller, J. J. Goodwin, G. H. Hager*, J. D. Hamilton, H. F. Hartwell, F. E.
Howard*, N. E. Mather. W. R. Mitchell*, J. B. O'Toole*, J. H. O'Toole, A. O. Perhajn*, E. O. Pratt,
A. J. Ruane, A. T. Saunders, N. A. Seymour, F. G. Stowers, E. T. Willson, Jr.

Board of Directors: E. R. B. AUardice,
nelly, J.

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

P.D.

8,

*

Part III.

71

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

Liabilities

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

14, 1926

Real estate by foreclosure, etc.
Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash

.....

$847,576 00
185,.371 70
572,000 00
88,800 00
258 29
17,678 67

Dues capital
Profits capital

$1,670,570 00
28,620 00
3,075 00
5.50 00
8,320 64
500 00
1,188 88
411 57
40,493 87

.

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account

Guaranty fund

8,246 70
20,209 99

Surplus
Interest

579 89
2 25
162 15
12,755 82
88 50

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
Security committee

$1,753,729 96

$1,753,729 96

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

.

.

....
—

Membership

Shares

Members
Members who

9,164
Issued during year
4,444
Withdrawn during year
351
Forfeited during year
1,746
Matured during year
20,803
Shares in force
9,376
Shares now pledged
2,860
Matured shares represented by certificates
certificates
444
represented
by
Paid-up shares
New series issued in March, June, September, December.

Holders

.

of:

2,072
571

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

1,733

475

.

113

certificates

Profits Distributed

Unmatured Shares and Matured Share

1>^%;

Paid-up Share

Proportion of profits retained on voluntary withdrawals,

Certificates

lli%; second term,

fourth term,

50%

1M%-

1M%;

real estate loans (average, $3,488 each;

average rate, 6.95%):

SI s^iore tooTis (average, $353 each; average rate, 7%)
S loans on matured share certificates : 7%, .$3,075.
S loans on paid-up share certificates: 7%, $550.

:

7%,

6%,

$28,620.

Total Expenses for Year

Amount

paid for

Cost per $1,000

.

of assets

third term,

of last 3

months' dividend.

$81,800;

7%,

Rates and Averages on Loans
479

third term,

fourth term,

First term,

1M%;

Certificates

l}4%; second term, lJ-^%;
13^%.

First term,

$1,.588,770.

72

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Real estate by foreclosure,
Personal accounts

etc.

.

Cash

19,

$370,850 00
7,454 00
3,527 42
84 90
11,481 56

Dues capital
Profits capital

$288,746 00
.59,036 95
31,200 00
298 51
4,625 62
7,882 .54
1,000 00
223 26

.

Paid-up share

certificates

Forfeited share account

.

Guaranty fund

Due on uncompleted

loans

Security committee

Dividends on paid-up share
cates

.

.

.

certifi-

385 00

.

$393,397 88

$393,397 88

Forfeited during year

....
—

Membership

Shares

Withdrawn during year

782
535
36

5,371
Shares in force
2,124
Shares now pledged
156
Paid-up shares represented by certificates
August,
in
February,
May,
Noseries
issued
New
vember.

Members
Members who
Holders

of:

are borrowers

600
183

.

Unmatured shares
Paid-up share

572
28

certificates

Profits Distributed

Unmatured Shares and Paid-up Share

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

First term,

1M%;

1M%I

Proportion of profits retained on voluntary withdrawals, 20% on series less than 4 years old;
from 4 to 8 years old; after 8 years, none.

Rates and Averages on Loans
167 real estate loans (average, $2,221 each; average rate, 6%): 6%, .$370,850.
£3 share loans (average, $324 each; average rate, 6%): 6%, $7,454.

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of assets
.

1926

Liabilities

Surplus

Issued during year

Part III.

8,

$1,165.00
2.96

Rent
1.05

dvertising

Certificates

third term,

123^% on

series

P.D.

73

Part III.

8,

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

......
Membership

Shares

Issued during year

Withdrawn during year

5,651
4,861

36
9,355
Shares in force
2,831
Shares now pledged
241
Paid-up shares represented by certificates
New series issued in February, May, August, NoForfeited during year

vember.

Members
Members who
Holders

of:

— are borrowers

Unmatured shares
Paid-up share

....

certifinates

Profits Distributed
Unmatured Shares and Paid-up Share
First term,

1M%;

1M%;

second term,

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
131 real estate loans (average, $3,402 each; average rate,
S6 share loa7is (average, $155 each; average rate, 6%):
1 loan on paid-up share certificates: 6%, $300.

6%): 6%, S411,600.
6%, $13,31'.

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

.

\M%;

895
186

866
70

Certificates

third term,

P.D.

74

8,

Part III.

Rates and Averages on Loans
295

real estate loans (average, $2,731 each;

5H%.

average rate, 5.96%):

41 share loans (average, $369 each; average rate, 6%):
6 loans on matured share certificates: 6%, $1,445.

6%,

6%,

$64,150;

$741,390.

$15,125.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$2,253.04
2,68

$273.85

$412.33

.33

.49

Other
Expenses

Total
$4,449.29
5.30

$1,510.07
1.80

DEDHAM — DEDHAM CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Office of
Incorporated February 11, 1886.

W. W. Baker, Westwood)

Began business February

16, 1886.

Anne

Frank W. Power, President

F. Smith, Treasurer

of Directors: W. W. Baker, M. A. Carney, E. N. Cartwright, A. N. Daniels*, A. D. Hibbard, D. J.
Hurley, P. W. Hutchison, F. B. Kingsbury, F. W. Power, J. J. Sweeney*, F. H. Valentine, A. O. Withington*, J. W. Withington.

Board

Regular meetings for receipt of moneys the third Tuesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages

Loans
Loans
Loans
Loans

.

,175,740 00

40,305 00
850 00
1,700 00
1,700 00

.

5,199 91
268 50

Unpaid interest
Unpaid premiums
Unpaid fines
Insurance and ta.xes paid
Cash

....
.

554 64
534 17
47,055 41

....
...
....

Dues capital
Profits capital
Matured share
Paid-up

certificates
share certificates

.

.

.

.

$1,447,221
344,928
215,200
128,200

Surplus

Due on uncompleted

loans
Dividends on matured share
cates
Dividends on paid-up share
cates

00
38

00
00
28 00

Forfeited share account

Guaranty fund

45,686 59
55,483 00
28,698 19

.

certifi-

5,257 47
certifi-

3,205 00

$2,273,907 63

$2.273,907 63

......
—
Membership

Shares
Issued during year

Withdrawn during year

1926

19,

Liabilities

.

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in IMay, Nov ember.

5,809
2,292
15
1,244
27,893
12,858
1,076
641

Men\bers

Members who

2,364

are borrowers

819

Unmatured .ahares
Matured share certificates

2,341

Holders

of:

....

Paid-up share

177

116

certificates

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

Matured and Paid-up Share
First term,

Certificates

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

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans
721 real estate loans (average, $3,018 each; average rate, 6.3%); 63/io%, $2,175,740.
loS share loans (average, $255 each; average rate, 6.3%): 6%o%> $40,305.
3 loans on matured share certificates: 6%, $850.
2 loans on paid-up share certificates: 6%, $1,700.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$6,642.05
2.92

$554.11

* Security Committee.

Advertising

$25.00
.01

Other
Expenses
$2,785.46
1.23

Total
$10,006.62

P.D.

8,

75

Part III.

DIGHTON — NORTH DIGHTON CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Engine Hall, Dighton)
Incorporated April

Edward

14, 1890.

Began business April

21, 1S9(J

Dwight

T. Cocker, President

Board of

W.

Directors:

J.

F. Lane, Treasurer

Briggs, L. E. Briggs*, C. F. Brownell*, H. T. Childs, Alexander
F. Driscoll, J. H. Goff, D. F. Lane, Helen H. Lane, E. E. Lincoln* H. B.

AspinwaU, C.

11.

Chisholm, E. T. Cocker, J.
SeekeU, E. E. Spencer, E. F. Walker.

Regular meetings for receipt

of

moneys the second Monday

month.

of each

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

192G

13,

....

Assets

Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Unpaid interest
Temporary expen.se account
Insurance and taxes paid
Pass book account
Cash

.8487,010 00

00
00
1,860 28
145 ,55
100 20
44 80

4,38.5
2,64.5

.....
.

10,.364 71

Dues

$288,522 00

capital
Profits capital

54,281
123,000
11,200
5
8,959
5,200
2,288
44
12,000
1,000
54

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Bills payable for

money borrowed

Due on uncompleted

loans

Security committee

$505,555 54

2S
00
00

00
95
53
16
62
00
00
00

$506,555 54

......
—
Membership

Shares
Issued during year

1,367

Withdrawn during year
Matured during year

988
151
6,370
2,705

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in April, October.

Members

615

who

516
217

are borrowers

.

.

.

Unmatured shares
Matured share certificates

.

.

.

101

Paid-up share certificates

.

.

.

11

A'lembers

Holders

of:

....

472

56
Profits Distributed

Unmatured Shares

atid

Matured Share

First term,

2J^%; second term,

First term,

2}4%;

Paid-up Share

Certificates

2%%.

Certificates

.second term, 2^-i%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
average rate, 5.90%): 5Vio%, $35,875; 5>^%, $44,000;
$407,135.
15 share loans (average, $292 each; average rate, 5.98%) 5Vio%, $125; 6%, $4,260.
4 loans on matured share certificates: 6%, $2,645.

19d real

estate loans

(average, .$2,497 each;

6%,

:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of

.

a.s.sets

EAST BRIDGEWATER

Salaries

Rent

$750.00
1.48

$71.35

— EAST

Incorporated February

Other
Expenses
$308.58

Advertising

.14

.61

Total
$1,129.93
2.23

BRIDGEWATER CO-OPERATIVE BANK

12, 1913.

Began business April

Charles L. Nutter, President

1,

1913

Fred E. Fuller, Treasurer

W.

B. Bannerman, 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, H. C. Thorndike, G. M. Webber*.

Board of Directors:

J.

R. Baker,

Regular meetings for receipt of moneys the third
* Security Committee.

Monday

of

each month.

P.D.

76

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

....

8,

Part III.

15, 1926

P.D.

8,

Part III.

77

....

Shares

Membership

Issued during year
Withdrawn during year

585
398

Forfeited during year

10

Matured during year

80

Shares in force
Shares now pledged
Matured shares represented

New

series issued in

Members
Members who

3,668
1,644
bj' certificate;

May, November.

327

110

Unmatured shares
Matured share certificates

391
73

of:

25% on

series less

Rates and Averages on Loans
87 real estate loans (avejage, $3,361 each; average rate, 6%): 6%, $292,390.
28 share loans (average, $179 each; average rate, 6%): 6%, $5,020.
1 loan on matured share certificates: 6%, $325.

Total Expenses for Year

paid for

Cost per $1,000

.

of assets

.

Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, 2H%; second term, 2^%.

Proportion of profits retained on voluntary withdrawals,
none.

Amount

420

— are borrowers

Holders

than 4 years old; after 4 years,

P.D.

78

Part III.

8,

Rates and Averages on Loans
344 '''^ol estate loans (average, $2,389 each; average rate, 6%): 6%, $821,650.
34 share loans (average, $394 each; average rate, 6%): 6%, $13,490.
1 loan on paid-up share certificates: 6%, $900.

Total Expenses for Year

Amomt paid for
Cost per $1,000

.

of assets

Salaries

Rent

$3,144.67
3.59

$273.00

$5.00

.31

.01

Other
Expenses
$719.07

Advertising

Total
$4,141.74
4 73

.82

.

EVERETT — EVERETT CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: American Trust Co., 50 State Street, Boston)
Incorporated September 24, 1890.

Began business October

Ernest R.

Board of Directors: D. P. Bailey, F. E. Boyd, E. R.
Ladd*, C. C. Nichols,

1890

14,

Charles B. Ladd, President

J.

W.

Philbrick*,

Fall, Treasurer

G. E. Hunt, F. E. Jenniogs, C. B.
C. Simes, E. B. Slocum.

Fall*, C. S. Hallett,

W.

Rockwood, W.

J.

Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

....

1926

18,

Liabilities

Dues capital
Profits capital

$2,194,900 00
41,380 00
6,565 00

650
197
766
27,063

$1,113,922 00
201,756 4(>
854,400 00
44,400 00

.

Matured share

certificates
share certificates

Paid-up

00
11

Forfeited share account

75

Guaranty fund

43

Surplus

367
29,832
11,779
8,191

69
77
34
1 75
92 52
6.700 00
78 00

Interest

Transfer fees

Withdrawal profits
Due on uncompleted loans
Security committee
$2,271,522 29

$2,271,522 29

Forfeited during year

Matured during year

......
—
Membership

Shares
Issued during year

Withdrawn during year

76

7,677
3,616

Members
Members who

11
1,251

Holders

of:

are borrowers

....
.

Unmatured shares
Matured share certificates

Shares in force
27,611
13,946
Shares now pledged
Matured shares represented by certificates
4,272
222
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Paid-up share

.

.

...
.

certificates

.

.

Profits Distributed
Unmatured Shares and Matured Share
First term,

1^%;

1J8%; second term,

fourth term,

First term,

1M%;

1%%.

1%%;

2,863

744
2,289

670
40

Certificates

third term,

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

1M%;

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, 15% on series less than 5 years old;
from 5 to 8 years old; after 8 years, none.

10% on

series

Rates and Averages on Loans
616 real estate loans (average, $3,563 each; average rate, 6%): 6%, $2,194,900.
21S share loans (average, $192 each; average rate, 6%): 6%, $41,380.
So loans on matured share certificates: 6%, $6,565.
2 loans on paid-up share certificates: 6%, $650.

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

$5,589.08
2.46
* Security

Advertising

Other
Expenses

1,956.92

$568.88

$1,951.99

.86

.25

.86

Rent

Salaries

Committee.

Total
$10,066.87

.

P.D.

8,

Part III.

79

FALL RIVER

FALL RIVER CO-OPERATIVE BANK

(Other authorized locations for receipt of moneys: Massasoit-Pocasset National Bank, Office
Fall River Bleachery, Office Lincoln & Hood)
Incorporated December

1888.

1,

Began business December

12,

1888

Rudolphus N.

George O. Lathrop, President

Allen, Treasurer

Annie E. Brownell, Assistant Treasurer

Board of Directors: R. N. Allen, Jefferson Borden, Jr., S. H. Borden, M. R. Brown, R. W. Burrell, C. E. Bury,
C. D. Davol, E. J. French, H. M. Hathaway, P. H. Hood, E. B. Jennings, G. O. Lathrop, C. K. Lincoln,
E. A. Lincoln*, E. B. Lovell, F. J. McLane*, R, G. Riley, J. J. Sampson, F. E. Westgate.
Regular meetings for receipt

moneys the second Wednesday

of

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
liOans on real estate
Loans on shares
Loans on matured share certificates
I,oans on paid-up share certificates
Common form mortgages
Real estate by foreclosure, etc.

,085,600 00

00
00
00
00
1,451 07

94,750
3,250
1,700
2,680

Temporary expense account
Personal accounts
Deposit in savings account
Security committee

Cash

14,

1926

Liabilities

....

Dues capital
Profits capital

$2,742,299
507,367
425,400
379,000

Matured share
Paid-up

Forfeited share account

.

Guaranty fund

1,216 19
211 lo
11,187 45

Surplus

96 50
72,212 32

Due on uncompleted

Interest

Fines

....

Personal accounts

Due on

10

41,887 15
814 13
26,550 00
13 68

loans

.

foreclosure sale

00

00
00
47 99
74,936 25
76,029 44

certificates
share certificates

9 94

.

$4,274,354 68

$4,274,354 68

Membership

Shares
Issued during year

14,390
12,291

Withdrawn during year

157

Forfeited during year

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in March, September,

1,236
59,689
24,442
2.127
1,895

Members
Members who

are borrowers

4,718
1,741

Unmatured shares
Matured share certificates

4,505
317

Holders of

:

Paid-up share

260

certificates

Profits Distributed

»

U nmatured
First term, 2

Shares

5^%; second term, 2Ji%.

Matured and Paid-up Share Certificates
23^%; second term, 214%.

First term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
l,d01 real estate loans (average, $2,722 each; average rate, 5.96%): 53^%, $357,800; 6%, $3,727,800.
J41 sAare Zoans (average, $278 each; average rate, 5.98%): 5>-^%, $3,900; 6%, $90,850.
•5 loans on matured share certificates:
5J^%, $2,300; 6%, $950.
3 loans on paid-up share certificates: 6%, $1,700.

Total Expenses for Year

.\mount paid for
Cost per $J,000 of assets
.

FALL RIVER

Salaries

Rent

Advertising

Other
Expenses

$9,184.30

1,255.78

$337.61

$2,078.41

.08

.49

— LAFAYETTE

Total
$12,856.10
3.01

CO-OPERATIVE BANK

(Other authorized location for receipt of moneys: Fall River Trust Co. Branch, 1465 Pleasant
Street)

Incorporated April 11, 1894.

Edmond

Began business

May

3,

1894

Samuel E. Robinson, Treasurer

Cote, President

Board of Directors: J. C. Brady, Amable Chouinard*, Edmond Cote, W. E. Fawcett, Elzear Fournier, W. J.
Hickev, A. H. Leeming, Hubert Legare, Joseph Menard, Nathan Miller*, C. E. Peloquin*, A. S. Phillips,
Oliva St. Denis, F. M. Silvia, R. C. Small, N. P. Tessier, J. E. Torphy.
Regular meetings for receipts of moneys the
* Security

first

Wednesday

Committee (one vacancy)

of each

month.

^^

P.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

6,

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

Part III.
1926

Liabilities
SI, 651, 900

42,950
100
3,549
3,062
21,181

.....

Temporary expense account
Cash

Dues capital
Profits capital

00
00
00
83
38
00

$1,120,508
186,856
156,600
135,600
167
34,100
33,782
49,833

00
60
00
00
85
36
83
45
991 86
2 20
4,300 00

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines

Withdrawal profits
Due on uncompleted loans
$1,722,743 21

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

$1,722,743 21

Shares

.

New series

issued in

.

.....
—
Membership

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

6,767
4,863
lo

Member.?

Members who

'

.

Holders

469
24,364
9^675

of:

1,649

are borrowers

549

....

Unmatured shares
Matured share certificates

.

Paid-up share

.

783
678

1,649

',

certificates

.

105
93

'

.

Profits Distributed

May, November.

Unmatured Shares
First term,

2J4%; second term, 2^4%.

Matured and Paid-up Share
First term,

23^%; second term,

Certificates.

2H%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans

5U%

467 real estate loans {average, $3,537 each; average rate, 5.95%)
110 share loans (average, $390 each; average rate? 6%) 5^%! $200
1 loa7i on matured share certificates: 6%, $100.
:

$169 400-

6% $4^ 750
,(;,-,.

:

6%

SI 48 2 500
^^'^^^'-^OO.

Total Expenses for Year

Rent

Salaries

Amount

paid for
Cost per $1,000 of assets

$572.92

Other
Expenses
$1,161.96

.33

.67

Advertising

$4,474.96
2.59

.

Total
$6,209.84
3.59

FALL RIVER — PEOPLES CO-OPERATIVE BANK
Incorporated February IS, 1882.

Began

busine.ss

March

Abner P. Davol, President

r'i,„..i„„ tr

Nathaniel B. Durfee. Assistant Treasurer

Board

of Directors:

W

H

16, 1882.

Blanchette F. C. Brownell*,

bstes, C. E. Mills,

James

Sinclair,

^

''^''

t-v
r
^^ °"'^"''

m
^''""'''"'

B. Clifton, A. P. Davol* Charles H. Durfee*. J
-.
Michael Sweeney*, L. E. Wood.

J.

.

E

j^-

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Permanent expense account

....

Deposit in savings account

Cash

20,

1926

Liabilities

$902,950 00
23,.300 00
2,000 00
5,000 00
11,777 30

Dues capital
Profits capital
.

.

.

.

.

Paid-up

.

.

•

.

Dividends on paid-up share
$945,027 30

[

,

[

'

loans
Dividends on matured share

cates

.

.

....'."

Guaranty fund

Due on uncompleted
cates

.

.

certificates
share certificates

Surplus

* Security

.

Matured share

.

$554,105
113,150
151,400
85,400
16,313
17,838

00
88
00
00

34
08
900 00

certifi.

.

3,785 00

certifi-

2,135 00

$945,027 30

Committee.

P.D.

8,

Part

81

III.

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

Membership

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 ceitificates

New series

issued in

3,370
2,452

398
11,738
5,560

757
427

Members
Members who

.

.

.

889

.

.

.

are borrowers

289

Unmatured shares
Matured share certificates

793

Holders

of:

—

....

Paid-up share

May, November.

121
61

.

certificates

Profits Distributed

Unmatured Shares

2J|%; second term,

First term,

2^%-

Matured and Paid-un Share

Certificates

2J^%; second term, 21^%.

First term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
S34 real estate loans (average, $3,858 each; average rate, 5.94%): o}4%. $93,950; 6%, SS09,000.
56 share loans (average, $423 each; average rate, 5.99%): 5}47o, $350; 6%, $22,950.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$2,250.00
2.38

$2,006 00

$159.32

2.12

.17

Other
Expenses
$854.15

Advertising

.

.91

Total
$5,269.47
5.58

FALL RIVER — TROY CO-OPERATIVE BANK
Incorporated July IS, 1880.

Began business July

20,

1880

Edward W. Bertenshaw,

Jerome C. Borden, President
Board of Directors: F. S. Akin, F. B. Albro, James Allardice*, E.
G. H. Eddy, J. H. French, George Grime, J. E. O'Connor, S.
Joseph Turner*, W. R. Woodman.

S.

Bertenshaw, J. C. Borden, T. D. Covel*,
Read, C. C. Rounseville, Jr., E. N. Slade*,

Regular meetings for receipt of moneys the third Tuesday

of eacli

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Liabilities

Dues capital
Profits capital
.

Matured share
Paid-up share

certificates
certificates

Forfeited share account
Matured share account

.

.

Guaranty fund
Surplus
Interest

Fines

....

Due on uncompleted
Personal accounts

Other

Treasurer

W.

liabilities

.

loans

21, 192S

P.D.

82

8,

Part III.

Rates and Averages on Loans
1,S27 real estate loans (average, $3,538 each; average rate, 5.95%): 5}4%, $427,250; 6%, $3,913,374.
28£ share loans (average, $275 each; average rate, 5.99%): 5M%, $850; 6%, $76,700.
9 loans on matured share certificates: 5}4%< $1,800; 6%, $5,150.
4 loans on paid-up share certificates: 6%, $1,300.

Total Expenses for Year
Other

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Exi)enBes

$10,753.00

$1,744.00

$699.97

.38

.15

.$555.16
.12

Total
$13,752.13
3.00

FALMOUTH — FALMOUTH CO-OPERATIVE BANK
Incorporated

Rawson

May

22. 1925.

Began business June

9,

1925
Stanley C. Giiford, Treasurer

C. Jenkins, President

Board of Directors: W. F. Bourne, G. E. Dean, John De Mello, C. B. Fisher, S. C. GifFord, E. P. Hatch*, C. L.
Hubbard, C. A. James, R. C. Jenkins, M. R. Lawrence, G. C. Look, J. B. Miskell*, I. H. Robbins*, Arthur
Underwood, L. C. Weeks.
Regular meetings for receipt

of

moneys the second Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Permanent expense account
Temporary exjjense account
Cash

.....

$39,000
185
72
12,075

00
66
91
97

Shares
Issued during year
Withdrawn during year
Shares in force
Shares now pledged
New series issued in June, December.
.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
12 real

estate loans (average,

$3,250 each; average rate, 7%):

7%,

$39,000.

12,

1926

P.D.

8,

83

Part III.

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

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

.

.

foreclosure, etc.

....
.

.

Matured share

350 00
1,120 06
20,000 00

Paid-up

2,251 61
723 91

Surplus

certificates
share certificates

Forfeited share account

Guaranty fund
Interest

loans

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

Forfeited during year

61
77

....
—

Membership

Shares

Withdrawn during year

00
00
64
60

$4,114,708 88

$4,114,708 88

Issued during year

01

530 25
21,900 00

Fines

Due on uncompleted

00

$1,806,405
344,680
1,330,200
406,400
16
82,304
83,846
38,425

capital
Profits capital

313 82
80,000 00
47,667 48

Personal accounts
Certificate of deposit

Cash

1926

Liabilities

Dues

$3,901,815 00
57,637 00
2,830 00

by
Banking house
Temporary expense account
Insurance and taxes paid
Real estate

26,

Members
Members who

10,596
8,455

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

75

1,245
Matured during year
40,788
Shares in force
21,696
Shares now pledged
6,651
Matured shares represented by certificates
2,032
Paid-up shares represented by certificates
New series issued in March, June, September, December.

of:

Paid-up share

3,74S
1,243

2,846

965
300

certificates

Profits Distributed

Unmatured Shares
First term,

1%%;

second term, 1?^%; third term,

13^%; fourth term, 13^%.
Matured and Paid-up Share
First term,

IH%\

1M%;

Certificates

second term, lJi%;

fourth term,

third term,

1M%-

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
1,111 rcaiestete toons (average, $3,511 each; average rate, 5.99%): 5%, $2,4.50;
327 share loans (average, $253 each; average rate, 6%): 6%, $57,637.
7 loans on matured share certificates: 6%, $2,830.
1 loan OH paid-up share certificates : 6%, $350.

6%,

$3,899,365.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

$11,030.00
2.68

$1,800.00

$1,250.00

$3,866.45

.30

.94

Total
$17,946.45
4 35
.

FITCHBURG — FITCHBURG CO-OPERATIVE BANK
Incorporated October 27, 1S77.

Began business November

8,

1877

John W. Parshley, Treasurer

Jabez F. Fisher, President

Board of Directors: W. M. Allen, Ebenezer Bailey, E. W. Baker, B. A. Cook*, M. A. Coolidge. F. N. Dillon,
Michael Donlon, F. L. Drury, J. F. Fisher, W. A. Hardy*, W. W. Henry, W. T. Hidden, T. F. Howarth,
J. L. Johnson, David Lowe, O. M. Lowe*, A. S. Morse, G. V. Upton.
Regular meetings for receipt of moneys the last business day of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

31, 1926

Liabilities

$6,349,904 00
98,347 00
9,450 00
1,720 00

30,000 00
116,115 27

Dues capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Matured share account
Guaranty fund

.

Surplus

Due on uncompleted

00
71

00
00
95
75
1.35,595 86
25,175 00

$6,605,536 27

$6,605,536 27

* Security

loans

$3,247,019
665,933
1,711,400
663,800
14,764
141,847

Committee.

84

P.D.

Issued during year

Withdrawn during year
Forfeited during year

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

.

.

.

19,113
13,928
122
3,192
69,201
35,867
8,557
3,319

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in February, May, August, November.

— are borrowers

....
.

.

.

Unmatured shares
Matured share certificates

.

.

.

Paid-up share

.

.

.

of:

certificates

Unmatured Shares
1%%; second term, l%%;
15-8%; fourth term, 1?-^%.

First term,

Matured and Paid-up Share

1M%;

1M%.

Rates and Averages on Loans
$2,862 each; average rate, 6%): 6%, S6,349,904.
3S9 share loans (average, S299 each; average rate, 6%): 6%, $98,347.
16 loans on matured share certificates: 6%, $9,450.
3 loans on paid-up share certificates: 6%, $1,720.
estate loans (average,

Total Expenses for Year
Salaries
.

5,068
1,279
.508

third term,

Certificates

second term, 1}4%', third term

Proportion of profits retained on voluntary withdrawals, none.

paid for
Cost per $1,000 of assets

6,030
2,114

Profits Distributed

lH7o; fourth term,

Amount

Part III.

......

Members
Members who
Holders

First term,

2,219 real

8,

Membership

Shares

P.D.

8,

Part

85

III.

Rates and Averages on Loans
real estate loans (average, $2,149 each; average rate,
41 share loans (average, $336 each; average rate, 6%):

S99

6%): 6%,

6%,

.SS57,(>()(I.

$13,7S0.

Total Expenses for Year
Salaries

Amount

paid for

Cost per $1,000

.

of assets

P.D.

86

8,

Part III.

FRAMINGHAM — SOUTH MIDDLESEX CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Caswell's News Store, Ashland)
Incorporated

Edward W.

November

19, 1920.

Began business January

13,

1921

John M. Merriam, Treasurer

Blodgett, President

Anna M. Mulcahy,

Assistant Treasurer

Board of Directors: C. G. Bancroft, E. W. Blodgett, E. A. Bowers, R. J. Callahan*, S. P. Carpenter, James
Chalmers, G. R. Coolidge, Louis Demarini, A. S. Farwell, E. H. Howard, P. A. McGowan, W. E. Marchant, J. J. Murphy, T. G. Portmore, J. J. Prindiville, D. J. Riley, J. P. Shay, J. J. Slattery, W. E. Sullivan*, A. E. Svenson, E. S. Taylor, W. H. Twiss, H. F. Twombly*, C. C. Willis.
Regular meetings for receipt

of

moneys the

third

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on

real estate

1«,

1926

P.D.

8,

Part

87

III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Temporary expen.sc account
Cash

....

5,

1926

Liabilities

$531,975 00
0,365 00
400 00
7,932 13

Dues capital
Profits capital

.

Matured share

certificates
share certificates

Paid-up

Guaranty fund
Surplus

$378,096
64,090
31,200
26,000
7,524
8,526

00
67
00
00
62
72
10,791 37
215 86

Interest

Fines
Transfer fees

Withdrawal
Bills

Due

50
226 39
15,000 00
4,400 00

profits

payable for money borrowed
on uncompleted loans

$546,672 13

$546,672 13

......
—
Membership

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
New series issued in January, July.

1,481

908
108
8,280
3,086
156

Members
Members who

are borrowers

683
222

Unmatured shares
Matured share certificates

657

Holders

of:

....

Paid-up share

certificates

131)

Profits Distributed

Unmatured Sharea
First term,

3%; second

term, '2^/i%.

Matured and Paid-up Share Certificates
First term, 2]4%\ second term, 2>^%.
Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Rates and Averages on Loans
296 real estate loans (average, $1,797 each; average rate, 6%): 6%, $531,975.
33 share loans (average, $198 each; average rate, 0%): 0%, $6,365.

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of assets
.

$1,200.00
2.19

Rent

Advertising

31

24

P.D.
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

New

8,

Part III.

Membership

Shares
3,761
2,041
1,089
14,307
6,174

Members
Members who

1,363

— are borrowers

408

Unmatured shares
Matured share certificates

1,267

Holders

of:

Paid-up share

628
546

44
107

certificates

Profits Distributed

series issued in .January, April, July, October.

Unmatured Shares
First term,

1J^%;

1J^%; second term, 1J^%;

fourth term,

Matured Share
Fourth term, .91%.
First term,

1M%;
Proportion

of profits retained

third term,

1^%.

Certificates

Paid-up Share Certificates
second term, 1J-C%; third term,

IH%;

fourth term,

on voluntary withdrawals,

50%

1H%-

of last dividend.

Rates and Averages on Loans
345 real estate loans (average, $3,200 each; average rate, 6.45%): 6%, $607,000; 7%, $496,900.
63 share loans (average, $292 each; average rate, 6.-58%) 6%, $5,688; 63-^%, $3,935; 7%, $8,800.
:

Total Expenses for Year
Salaries

Amount

paid for

Cost per $1,000

.

of assets

P.D.

8,

Part III.

89

.....
Membership

Shares
Issued during year
Forfeited during year

4,047
2,136
89

Matured during year

925

Withdrawn during year
Shares in force
Shares now pledged
Matured shares represented by certificate.s
Paid-up shares represented by certificates
New series issued in March, September.

20..566

9,249
1,517

Member.'!

Members who

670

Unmatured shares
Matured share certificates

1,654

of:

Paid-up share

.

certificates

Profits Distributed

819

Unmatured Shares
First term,

3%; second

term,

3%.

Matured Share Certificates
First term, 2^i%; second term, 2^%.
First term,

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

2H%;

Proportion of profits retained on voluntary withdrawals, 10%.

Rates and Averages on Loans
681 real estate loans (average, $2,452 each; average rate, 6%): 6%, $1,669,885.
96 share loans (average, $346 each; average rate, 6%): 6%, $33,250.
3 loans on matured share certificates: 6%, $745.
1 loan on paid-up share certificates: 6%, $1,000.

Total Expenses for Year

Sa

Amount

paid for

Cost per $1 ,000

.

of assets

1,842

— are borrowers

Holders

262
135

90

P.D.

Issued during year

6,914
2,965
21

Withdrawn during year
Forfeited during year

8,

....

Part III.

Membership

Shares

Matured during year
898
Shares in force
32,083
Shares now pledged
13,996
Matured shares represented by certificates
2,707
Paid-up shares represented by certificates
815
New series issued in January, April, July, October.

Members
Members who
Holders

of:

3,543
1,222

— are borrowers

Unmatured shares
Matured share certificates
Paid-up share

3,23a
517

.

125

certificates

Profits Distributed

Unmatured Shares
First term,

1M%;

second term, 13-2%: third term,

1>^%; fourth term, 11^%.
Matured Share
First term,

1%%;

Certificates

second term,

l%%;

third term,

13^%: fourth term, 1J^%.
Paid-up Share

Certificates

First term,

114%; second term, l\i%;

1M%;

1M%.

fourth term,

third term,

Proportion of profits retained on voluntary withdrawals, none

Rates and Averages on Loans
1,121 reo? es<a«e ?oa«s (average, $2,276 each; average rate, 6.3%): 6 Vio%, 82.550,975; 6Vio%, $600; 6Vio%,
$100.
s;iore?oana (average, $330 each; average rate, 6.34%): 6 Vio%, $43,950; 65Vioo%, $175; 6Vio%, $1,200;
6"/,oo%,$115; 65 2/ioo%,$250; 66/io%, $2,300; 6' Vioo%, $160; 685/ioc%, $70; 6S8/iao%, $300; 7Vio%f
$350; 7<Vioo%, $45; 75/io%, $40; 8%, $30; 864/ioo%, $75; 9%, $20; 10%%, $30.
16 loarxs on matured share certificates: 6Vio%, $7,400; 6-*Vioo%, $175; 6%%, $150; 6K%. $200; 7K%, $50;
86 4/100%,, $25.
1 loan on paid-up share certificates: 6'/io%,$100.

H9

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of
.

a.ssets

P.D.

8,

91

Part III.

.....
Membership

Shares

New

series issued in

Members
Members who

6,583
2,738
10
1,076
30,871
12,821
1,769

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

3,513

— are borrowers

845

Unmatured shares
Matured share certificates

3,454

Holders

of:

Paid-up share

287
11

certificates

Profits Distributed

48

May, November.

Unmatured Shares

3%; second

First term,

3%.

term,

Matured Share Certificates
First term, 25^%; second term, 2^4%.
First term,

Paid-up Share Certificates
second term, 2}4%.

2^%;

Proportion of profits retained on voluntary withdrawals,

50%

of last dividend.

Rates and Averages on Loans
750 real estate loans (average, $2,967 each; average rate, 6. .50%): 6H%, $2,225,220.
179 share loans (average, $276 each; average rate, 7%c): 7%, $49,548.
Total Expenses for Year

Rent

Advertising

Other
Expenses

$500.00

$202.16

$2,242.35

.21

.09

.97

Salaries

Amount

$4,806.53
2.08

paid for
Cost per $1,000 of assets
.

Total
$7,751.04
3.35

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 Harrington)
Incorporated June

12, 1889.

Began business July

1,

Soard

of Directors:

1889

Dennis C. Killeen, Treasurer

Elmer C. Herriek, President

F. E. Chamberlin, C. P. Comstock*, J. F. Gerard*, Charles Gillett, E. C. Herriek, P. J.
Kane*, D. C. Killeen, J. F. Mack, G. C. Najar.

Regular meetings for receipt

of

moneys the

first

Monday

each month.

of

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
X/oans on real estate
Loans on shares

Cash

5,

$314,700 00
6,698 00
23,939 25

.

....
....

Dues capital
Profits capital
Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus

Due on uncompleted loans
Dividends on matured share

.

.

.

.

.

.

00
78
00
00
5,309 44
2,423 69
400 00
1,278 34

Dividends on paid-up share

certifi-

835 00

cates

$345,337 25

$345,337 25

Membership

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
series issued in

$211,095
38,595
52,000
33,400

certifi-

cates

New

1926

Liabilities

809
828
98

...

Members
Members who
.

Holders

of:

— are borrowers

Unmatured shares
Matured share certificates

4,304
2,013

Paid-up share

260

.

.

certificates

507
190

468
52
36

167

May, November.

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term,

Proportion

of profits retained

on voluntary withdrawals,

25% on

none.
* Security

Committee.

2K%;

second term, 232%.

series less

than 5 years old; after 5 years,

92

P.D.

8,

Part III.

Rates and Averages on Loans
estate loa}is {average, $1,919 esLch; average rate, 5.47%): 5%, $15,400; 5J^%, $299,300.
30 share loans (average, $223 each; average rate, 5.50%): 53^%, $6,698.

164 real

Total Expenses for Year

Rent

Salaries

Amount

paid for
Cost per $1,000 of assets

$147.46

Other
Expenses
$162.58

.42

.47

Advertising

$900.00
2.60

.

Total
$1,210.04
3.49

GREENFIELD — GREENFIELD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Turners Falls, Millers Falls and Shelburn&
Falls)

Incorporated June 21, 1905.

Began business July

11,

1905

Henry

William B. Allen, President

S. Franklin, Treasurer

Catherine V. Studer, Assistant Treasurer
Directors: W. B. Allen, F. R. Andrews, G. E. Davis, P. E. Fay*, H. S. Franklin, L.
F. E. Hawks*, F. A. Loomis*, M. H. Nichols, C. E. Powers, A. H. Rist, A. C. E. Stimson,
brod, G. H. Wilkins, C. E. Winslow.

W. Griswold,
W. H. Weiss-

Board of

Regular meetings for receipt

of

moneys the second Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

15, 1926

Liabilities

00
00
00
00
750 00
2,006 02
59,784 48

$1,509,725
47,785
8,430
1,080

.....

Dues capital
Profits capital

$967,554 00
145,290 41

.

Matured share

,301,600

Paid-up

127,200
201
24,561
22,569
31,370

certificates
share certificates

Guaranty fund
Surplus
Interest

Transfer fees

3 75
8,400 00

Withdrawal profits
Due on uncompleted loans

Due on

25 49

foreclosure sales

$1,629,560 50

$1,629,560 50

....
—

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
New series issued in January, July.

7,006
4,117

47
187
25,153
9,716

Members
Members who

723

Unmatured shares
Matured share certificates

2,010

of:

Paid-up share

636

Profits Distributed
Unmatured Shares and Matured Share

2%%;

second term,

Paid-up Share

Rates and Averages on Loans
average rate, 6%):

share loans (average, $370 each; average rate,
loans on matured sfiare certificates: 6%, $8,430.
loans on paid-up share certificates: 6%, $1,080.

6%,

Total Expenses for Year
Salaries

paid for

Cost per $1,000

.

of assets

$1,509,725.

6%): 6%, $47,785.

2%%.

Certificates

Proportion of profits retained on voluntary withdrawals, none.

Amount

263
134

.

certificates

1,.508

First term, 23^2%; second term,

real estate loans (average, $2,555 each;

2,248

are borrowers

Holders

First term,

591
1S9
1£
S

00

00
39
95
25
42
783 84

Forfeited share account

2^%-

Certificates

P.D.

8,

Part III.

93

GROVELAND — GROVELAND CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 111 Merrimack Street, Haverhill)
Incorporated

November

4,

1895.

Began business November

19,

Harry W. Vaughan, President

1895

George Mitchell, Treasurer

Board of Directors: A. H. Amazeen*, Theodore Dewhurst, H. W. Hardy, John Magee, Frank McCormick,
J. W. McGinley, George Mitchell*, C. H. Pike, E. L. Sides, F. R. Spofford, A. G. Twombly*, H. W.
Vaughan*, A. L. Wales*.
Regular meetings for receipt

of

moneys the

third

Tuesday

of each

month

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Temporary expense account

Cash

522,650 00

7,580 00

550 00
1,300 35
1,537 65
2,930 48

.....

Personal accounts

19, 1926

....

Assets

.

Dues capital
Profits capital

Matured share

$292,353 GO

certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans

Bills

Overs and shorts
$536,548 48

1,069

672

Forfeited during year

33

Matured during year

273

Shares in force
Shares now pledged
Matured shares represented by certificates
.

New

series issued in

....
—

Membership

Shares
Issued during year

Withdrawn during year

.

.

.

5,712
2,821

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates

.

Profits Distributed

694

May, November.

Unmatured Shares
First term, 2 5-^%; second term,

Matured Share
First term,

2%%.

Certificates

23^%; second term, 23^%.

94

P.D.

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

....

Part

III.

11, 1926

Liabilities

Dues

,717,439 60
58,170 00
1,365 00

Temporary expense account
Taxes paid
Cash

8,

capital
Profits capital

Matured share

438 05
1,389 16
31,840 78

$1,239,609 00
267,262 09
208,600 00

.

certificates

Forfeited share account

48 68

.

Guaranty fund

35,057 91
41,073 68
9,382 01
250 57
1 50

Surplus
Interest

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans
Dividends on matured share

85 48
4,230 00

....

cates

certifi

5,041 67

$1,810,642 59

$1.810,642 59

.....
—
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
New series issued in April, October.

Members
Members who

4,514
2,809
5

746
23,422
10,166
1,043

2,095

are borrowers

800

Unmatured shares
Matured share certificates

2,032
166

Holders

of:

.

Profits Distributed

Unmatured Shares
First term,

2f^%; second term, 3%.

First term,

2J^%; second term, 234%-

Matured Share

Certificates

Proportion of profits retained on voluntary withdrawals, 10%.

Rates and Averages on Loans
704 real estate loans (average, $2,440 each; average rate, 6%): 6%, $1,717,439.
308 share loans (average, $189 each; average rate, 6%) 6%, $58,17().
6 loans on matured share certificates: 6%, $1,365.
:

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

Salaries

Rent

Advertising

Other
Expenses

$3,399.96
1.88

$1,029.00

$201.20

$1,644.71

.57

.11

.91

Total
$6,274.87
3.47

HAVERHILL — HAVERHILL CO-OPERATIVE BANK
Incorporated August 20, 1877.

Edward A.

Began business September

3,

1877

James G. Page, Treasurer

Fitts, President

Edna

E. West, Assistant Treasurer

Board of Directors: C. A. Bodwell, C. H. Clark*, W. G. Cogswell, E. A. Fitts*, M. J. Fowler*, G. E. Frye,
E. J. Kempton, S. A. McGregor, E. H. Moulton, J. G. Page, W. W. Roberts, J. H. Sayward.
Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Real estate by foreclosure,
Unpaid interest
Unpaid fines
Cash
.

....

4,

1926

Liabilities

52,888,650 00
etc.

.

.

.

.

.

.

.

.

91,440 00
3,045 15
23,528 75
398 18
39,868 37

Dues

capital
Profits capital

Matured share

certificates

Forfeited share account

Matured share account
Guaranty fund

.

....
....
.

Surplus
Bills payable for

money borrowed
Due on uncompleted loans
Dividends on matured share
cates

$3,046,930 45

* Security

$2,090,865
461,541
251,800
17
20,364
78,889
76,021
30,000
31,135

00
88
00
58
35
69
95
00
00

certifi-

6,295 00

$3,046,930 45

Committee.

P.D.

8,

Part III.

95

.....
—
Membership

Shares
Issued during year

7,272
5,150
116
1,785
38,557

Withdrawn during year
Forfeited during year

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

New

series issued in

Members
Members who
Holders

of:

are borrowers

3,453
1,270

.

Unmatured shares
Matured share certificates

3,354

212

.

17,9.38

Profits Distributed

1,259

May, November.

Unmatured Shares
First term,

2H%', second term, 3%.
Matured Share

Firist

term,

2H%;

Certificates

second term, 2}4%.

Proportion of profits retained on voluntary withdrawals, 10%.

Rates and Averages on Loans
1,045 real estate loans (average, S2,764 each; average rate,
S35 share loans (average, $406 each; average rate, 6%):

6%): 6%, $2,888,650.

6%,

$91,440.

Total Expenses for Year

Amount

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

Salaries

Rent

Advertising

Other
Expenses

$7,735.10

$796.08

$326.75

$1,927.47

.26

.11

.63

Total
$10,785.40
3.54

HINGHAM — HINGHAM CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Office of Rhodes Ripley Co., 76 Essex Street,
Boston; store of F. A. Loud & Co., East Weymouth)
Incorporated June

1,

1889.

Began business June

5,

1889

George

Ira G. Hersey, President

S.

Marsh, Treasurer

Board of Directors: C. S. Gushing*. Edmund Daly, J. W. Douglas, W. B. Fearing*, W. B. Foster, F. M. Hersey*, I. G. Hersey, K. A. Hersey*, J. T. Hollis, Frederick Humphrey, C. H. Marble, G. S. Marsh, J. J.
Moore, E. R. Ripley, W. C. Shute, W. W. Simmons, E. F. Skinner*, George Whiting.
Regular meetings for receipt

of

moneys the

first

Wednesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

,300,450 00
certificates

....
.....

45,625
2,300
3,120
379
14,060

00
00
79
98
66

6,

1926

P.D.

96

8,

Part III.

Rates and Averages on Loans
440 real estate loans {sLverage, $2,955 each; average rate, 6%) 534%, $6,150; 6%,
ids share loans (average, $225 each; average rate, 6%); 6%, $45,625.
:

4 loans on matured share

certificates:

6%,

SI, 294, 300.

$2,300.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$3,700.00

$303.96

$96.40

.22

.07

Other
Expenses
$943.08
.69

Total
$5,043.44
3 69
.

HOLBROOK — HOLBROOK CO-OPERATIVE BANK
Incorporated June

9,

188S.

Began business June

11,

1888

Frederic

Alva T. Southworth, President

W.

Blanchard, Treasurer

Leonard Belcher, F. W. Blanchard, F. B. Brooks, F. B. Diman*, L. E. Flye, P. H. Fraher,
F. A. Gardner*, W. F. Gleason, John King, W. W. Lincoln, Howard Platts, G. W. Porter, J. W. Porter,
E. S. Rogers, A. T. Southworth*, G. E. White, G. T. Wilde, W. B. Wilde.

Board

of Directors:

Regular meetings for receipt

of

moneys the second Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities

Assets

Loans
Loans
Loans
Loans

on real estate
on shares
on nnatured share certificates
on paid-up share certificates
Common form mortgages
Unpaid interest

$672,9.50 00

17,050 00

600 00
225 00
00
00
62
20

1,478
1,000
1,009
34
5,998

Temporary expense account
Insurance and taxes paid
Cash

....

31

$700,345 13

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
New series issued in June, December.

1,479

749
256
7,625
3,982

652
65

20,

1926

P.D.

8,

97

Part III.

HOLYOKE — CITY CO-OPERATIVE BANK
Incorporated July 16, 1889.

Began business July

23,

1889
Pierre Bonvouloir, Treasurer

Daniel Proulx, President
S. J.

Bonvouloir, Assistant Treasurer

Board of Directors: Samuel Bail, W. G. Beaudro, Louis Bibeau, Pierre Bonvouloir*, S. J. 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, Edward Pauze*, Daniel Proulx*, Homer Stebbins.
Regular meetings for receipt of moneys the

last

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

26, 1926

98

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

Liabilities

certificates

Common

form mortgages
Real estate by foreclosure,
Overs and shorts

.....
etc.

.

Cash

Dues

$12,000 00
1,619,800 00
29,650 00
1,650 00
9,650 00
17,344 14
20 40
99,148 11

$1,136,502 00
216.224 22
335,000 00

capital
Profits capital
.

Matured share

certificates

Forfeited share account

422 00
48,383 63
42,080 80
600 00

.

Guaranty fund
Surplus

Due on uncompleted

loans

....

Dividends on matured share
cates

certifi

10,050 00

$1,789,262 65

$1,789,262 65

Members
Members who

5,284
2,997

Forfeited during year

234
890

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

....
—

Membership

Shares
Issued during year

Withdrawn during year

New

Part III.

8,

30, 1926

522

Unmatured shares
Matured share certificates

1,978

Holders

24,432
9,170
1,675

1,978

are borrowers

of:

243

.

Profits Distributed

May, November.

Unmatured Shares and Matured Share
First term,

Proportion of profits retained on voluntary withdrawals,

25% on

Certificates

2)^%; second term, 3%.

series less

10%

than 5 years old;

thereafter.

Rates and Averages on Loans
435 real estate loans (average, $3,560 each; average rate, 5.97%.): 5J-^%, $109,200; 6%, $1,510,600.
67 share loans (average, $443 each; average rate, 5.99%): 5}^%, $500; 6%, $29,150.
6 loans 071 matured share certificates: 6%, $1,65().

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

Salaries

Rent

Advertising

$5,202.64
2.91

$1,098.38

$225.93

Other
Expenses
$1,178.92

.61

.12

.66

Total
$7,705.87
4 30
.

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

El win

J.

Incorporated October 22, 1885.

Began business November

19,

1885

Norman M. Hunter,

Prescott, President

Gertrude

W.

Treasurer

Fi London, Assistant Treasurer

Board of Directors: G. F. Allen*, Gertrude W. Fi London, A. L. Fletcher*, N. M. Hunter, R. F. Kerrigan, R. S.
Lamson*. F. E. Morris, C. A. Packard, E. G. Persons, E. J. Prescott*, H. A. Reardon, C. H. Robinson,
F. H. Robinson, S. M. Robinson*, Frank Taylor, C. J. Tower, J. N. Tower, C. B. Wheeler, A. E. Woodbury.
Regular meetings for receipt of moneys the third Thursday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Cash

.....

21,

1926

Liabilities

,109,450 00

64,300
2,000
2,550
5,765
36,507

00
00
00
54
27

Dues

capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

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

Guaranty fund

Surplus
Bills payable for

money borrowed
Due on uncompleted loans
Dividends on matured share certifi
cates

Dividends on paid-up share
cates
Special insurance

00
00
00
00
37
27
69
00
00

4,199 19

certifi-

.

Reserve for permanent expense

2,702 60
129 79
1.350 00

$2,220,572 81

$2,220,572 81

* Security

$1,263,629
276,841
353,200
216,200
180
41,637
18,753
20,000
21,750

Committee.

P.D.

8,

99

Part III.

.....
Membership

Shares
Issued during year

.

.

.

.

.

.

.

Forfeited during year

.

.

.

.

Members
Members who

5,207
2,231
132

.

Withdrawn during year

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

Holders

24,468
Shares in force
12,395
Shares now pledged
1,766
Matured shares represented by certificates
1,081
Paid-up shares represented by certificates
New series issued in February, May, August, November.

Paid-up share

2,364

895

.

Unmatured shares
Matured share certificates

944

Matured during year

— are borrowers

of:

2,189

317
194

.

certificates

Profits Distributed

Unmatured Shares

1%%;

First term,

second term,

third term.

1%'',

lVs%: fourth term, ljg%.
Matured and Paid-up Share

1M%;

First term,

Certificates

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

1M%.

11^%; fourth term,

Proportion of profits retained on voluntary withdrawals, one-sixth. On mortgage loan accounts no withdrawal loss if money withdrawn is entirely devoted to repayment of loan.

Rates and Averages on Loans
$2,761 each; average rate, 5.7%): 5H%, $1,145,250; 6%, $964,200.
277 share loans (.average, $232 each; average rate, 5.8%): 5J^%, $20,300; 6%, $44,000.
loans
matured
share
certificates:
8
on
6%, $2,000.
5 loans on paid-up share certificates: 6%, $2,550.

764 real

estate loans (average,

Total Expenses for Year

Rent

Salaries

Amount

paid for

$3,972.90

.

1,221.59
.55

Cost per $1 ,000 of assets

Other
Expenses
$1,736.32

Advertising
$499 85
.

Total
$7,430.66
3.34

.78

.22

IPSWICH — IPSWICH CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Office of
Incorporated July

8,

1913.

J.

A. Marshall,

Began business July

14,

Main

Street, Rowley)

1913

Frederick S. Witham, Treasurer

Walter E. Hayward, President

Board of Directors: G. A. Barker, F. M. Burke*, C. F. Chapman, H. N. Doughty, C. E. Goodhue*, W. E.
Hayward, C. M. Kelly, F. W. Kyes, E. J. Marcorelle, J. A. Marshall*, D. E. Measures, W. J. Riley*,
G. A. Schofield*, F. P. Trussell, F. S. Witham.

Regular meetings for receipt of moneys the second

Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

.

Cash

11, 1926

Liabilities

$458,490 00
11,655 00
1,500 00
90 00
83 31
159 00
85 00
13,980 69

Dues capital
Profits capital

$325,571
65,406
50,400
29,000
10
5,526
1,778
2,559

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account

Guaranty fund
Interest

Fines

37

$486,043 00

$486,043 00

......
—
Membership

Shares
Issued during year

55

40
73
77 90
13 05
5,700 00

Surplus

Withdrawal profits
Due on uncompleted loans

Withdrawn during year
Matured during year

00
00
00
00

1,141

822
117
6,785

Members
Members who
Holders

of:

are borrowers

....
...

Unmatured shares
Matured share certificates

Shares in force
Shares now pledged
2,691
Matured shares represented by certificates
252
Paid-up shares represented by certificates
145
New series issued in January, April, July, October.

Paid-up share

certificates

.

.

...

848
251

825
44
30

Profits Distributed

Unmatured Shares

1%%;

second term,
First term,
1 ^^5%; fourth term, 1J^%.

\%%;

Matured and Paid-up Share

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

First term,

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

10% on

Committee.

series less

third term,

Certificates

1M%;

third term,

than 4 years old; after 4

ye.ars,

P.D.

8.

Part III.

Other
Expenses
$557 84
1.15

Total
$2,292.19
4.71

100
Rates and Averag^es on Loans
20A real estate loans (average, $2,247 each; average rate, 6.1%): 6Vio%, $458,490.
44 share loans (average, $264 each; average rate, 6.1%): 6Vio%, $11,655.
^ loans on matured share certificates: 6i/io%, $1,500.
1 loan on paid-up share certificates: 6i/io%, $90.

Total Expenses for Year

Amount paid

for
of assets
.

Salaries

Rent

Advertising

11,122.46

$477.89

$134.00

2.30

.98

.28

Cost per $1,000

,

LAWRENCE — ATLANTIC CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 56 Main Street, Andover)
Incorporated

March

26, 1891.

Began business April

Frank W. McLanathan, President

30,

1891

Benjamin R. Bradley, Treasurer

of Directors: R. V. Baketel, J. H. Bevington, R. W. Bevington*, O. W. Boothbv, B. R. Bradley*, D. J.
Costello*, B. E. Crowell. W. D. Currier, N. F. De Cesare, D. C. Farr, G. E. Folk, A. C. Gaunt, H. D.
Grimes, C. H. Kitchin, W. M. Lament, F. W. McLanathan, W. A. Pedler, W. T. Rochefort, S. E. Rollins,
F. A. Sherman, D. K. Webster, Jr.

Board

Regular meetings for receipt

of

moneys the

last

Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Permanent expense account
Temporary expense account
Overs and shorts
Cash
.

.

.

.

29, 1926

....

Assets

Liabilities

$881,050
20,368
13,818
557

00
00

Dues capital
Profits capital

27
39

Matured share

423 92
13 89
.

17,683 12

$627,246
122,656
54,600
69,800
216
20,515
14,045
5,432
172

certificates
share certificates

Paid-up

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

354

profits

payable for money borrowed
Due on uncompleted loans

10,000
8,850
24

Bills

Security committee

Forfeited during year

Matured during year

4,675
2,718

227
287

Shares in force
16,601
Shares now pledged
5,282
273
Matured shares represented by certificates
349
Paid-up shares represented by certificates
New series issued in January, April, July, October.

.....
—

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

certificates

l}i%; second term, l}>i%;

1M%;

1M%.

fourth term,
less

Salaries

third term,

than 5 years old; after 5 years,

Rates and Averages on Loans

Total Expenses for Year

third term,

Certificates

First term,

284 real estate loans (average, $3,102 each; average rate, 6.47%): 6%, $51,750; 63^%, $829,300.
113 share loans (average, $180 each; average rate, 6.50%): 6J^%, $20,368.

.

45
56

Unmatured Shares

Proportion of profits retained on voluntary withdrawals, 25% on series
none.

of assets

1.237

Profits Distributed

Matured and Paid-up Share

paid for

339

...

1}4%; second term, 1}4%;
13^%; fourth term, 1^%-

Cost per $1,000

1,300

.

First term,

Amount

51

47
75
92
00
00
00

Membership

Shares
Issued during year

28
74

$933,914 59

$933,914 59

Withdrawn during year

00
92
00
00
00

P.D.

8,

101

Part III.

LAWRENCE — LAWRENCE CO-OPERATIVE BANK
(Other authorized location for receipt of mdneys: Andover National Bank, Andover)
Incorporated

March

12, 188S.

Began business April

6,

1888

William A. Whitney, Treasurer

Frederic N. Chandler, President

Board of Directors: Thomas Bredbury, F. A. Buttrick, F. N. Chandler, Andrew Craig, W. S. Donald, F. H.
Eaton, Albert Emerton, W. H. Glover, C. A. Leach, J. R. Marjerison, R. F. Pickels, C. A. Stone*, H. B.
Taylor, W. A. Whitney*, H. P. Wilkinson*.
Regular meetings for receipt of moneys the

first

Saturday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities

Assets

Loans
Loans
Loans
Loans

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

.

Real estate by foreclosure, etc.
Permanent expense account
Insurance and taxes paid

.....

Personal accounts

Cash

.

.

,677,650 00

00
00
00
69
686 92
52 39
215 00

31,170
1,150
1,350
22,071

50,329 19

$1,784,675 19

2,

1926

102

p.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

2,

Assets

1926

Liabilities

Loans
Loans
Loans
Loans

on real estate
on shares
on matured share certificates
on paid-up share certificates
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Insurance and taxes paid

Matured share

400 00
2,91.5 00

Paid-up

.

certificates
share certificates

8,168 10

Forfeited share account

60
493 03
171 62
75,000 00
78,057 44

Matured share account
Guaranty fund

3,22.3

Certificates of deposit

....
...
....

Dues capital
Profits capital

,914,700 00
103,980 00

.

Cash

Part III.

Surplus

Due on uncompleted

.

.

.

.

.

.

.

loans

certifi-

2,544 13

cates

Dividends on paid-up share

certifi-

cates

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

50

1,1.37

$2,187,108 79

$2.187,108 79

....
—

Membership

Shares

Issued during year

78

00
00

52
85
30,672 01
10,700 00
4,345 00

.

Dividends on matured share

00

$1,510,765
324,943
208,600
91,000
2,400

Members
Members who

6,717
5,022

Withdrawn during year
Forfeited during year

80

Matured during year

1,233
30,698
12,642
1,043

777

Unmatured shares
Matured share certificates

2,522
161

Holders

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
455
New series issued in February, May, August, November.

2,593

are borrowers

of:

Paid-up share

.

89

certificates

Profits Distributed

Unmatured Shares
1%%; second term, 13's%; third term,
lj-i%; fourth term, 1%%.

First term,

Matured and Paid-up Share

Certificates

First term,

114%\ second term, 114%',

1M%;

IH%-

Proportion of profits retained on voluntary withdrawals,
none.

fourth term,

20% on

series less

third term,

than 4 years old; after 4 years,

Rates and Averages on Loans

5H /c,

501 real estate loans (average, $3,822 each; average rate, 5.99%); 5%, $8,700;
391 share loans (average, $266 each; average rate, 6%): 6%, $103,980.
1 loan on matured share certificates: 6%, $400.
19 loans on paid-up share certificates: 6%, $2,915.

6%,

$5,000;

$1,901,000.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

Total

$5,160.00
2.36

$1,800.00

$1,969.78

$1,806.97

.?10,736.75

.82

.90

.83

4.91

LEOMINSTER — LEOMINSTER CO-OPERATIVE BANK
Incorporated

May

8,

1888.

Began business

May

18,

1888

Alfred N. Litch, President

J.

Ward

Healoy, Treasurer

Board of Directors: R. B. Andrews*, L. W. Browning, H. R. Davis, F. S. Farnsworth, J. W. Healev, W. E.
Holman, T. C. Howe, A. N. Litch, J. M. McPhee, 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 BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest
Certificates of deposit

Cash

,884,930 00
certificates

15,

1926

Liabilities

32,035 00
2,950 00
1,381 27
50,000 00
55,448 46

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
Dividends on paid-up share
cates
.

.

00
37

00
00
35
71

22
00

certifi-

...

7,776 08

certifi-

2,295 00

$2,026,744 73

$2,026,744 73

* Security

.

.

$974,083
195,918
577,600
183,600
379
43,719
40,873
500

Committee.

P.D.

Part

8,

103

III.

Membership

shares

Members
Members who

299
620

Issued during year

Withdrawn during year

897

Matured during year
1,283
Shares in force
10,599
Shares now pledged
888
Matured shares represented by certificates
918
Paid-up shares represented by certificates
New series issued in February, May, August ^o-

2,179
are borrowers

653

Unmatured shares
Matured share certificates

1,758

Holders

19

Forfeited during year

of:

Paid-up share

461
141

certificates

Profits Distributed

Unmatured Shares

vember.

First term.

IH%;

second term,

l?/s%; fourth term,

1

1

'^^o

third term.

J-i%.

Matured Share Certificates
l]4%\ second term, l%%; third term,
1?.^%; fourth term, 1 J^%.

First term,

First term,

1M%;

'

Proportion of profits retained on voluntary withdrawals,
none.

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

1M%;

fourth term,

10% on

series less

1M%.

than 6 years old; after 6 years,

Rates and Averages on Loans
$3,301 each; average rate,
87 share loans (average, $368 each; average rate, 6%);
7 loans on matured share certificates: 6%, $2,9.50.

571 real

estate loans (siveTage,

6%)
6%,

:

6%, $1,884,930.
$32,035.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$5,156.00
2.54

$362 00

$217.25

Other
Expenses
$1,928.74

.11

.95

.

Total
$7,663.99
3.78

LEOMINSTER — MUTUAL CO-OPERATIVE BANK
Incorporated
(Office

November

19, 1919.

Began business December

17,

1919

Arthur L. Wass, Treasurer

Vacant) President

Board of Directors: H. C. Bascom*, Arthur Beland*, L. H. Bourbeau, F. W. Boynton*, H. H. Chase, F. H.
Cook, C. T. Foster*. H. H. Goquen, E. P. Hadley, A. E. Harper, W. N. Howe, L. A. Jalbert, P. H. Killelea*,
Peter McKenna, D. F. Ouimet, Michele Padavono, J. C. Richardson, R. A. Robillard, Augustus Rosse,
J. D. Shea, A. L. Wass, R. V. Worthen.
Regular meetings for receipt of moneys the third Friday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Unpaid fines
Permanent expense account
Temporary expense account
Overs and shorts
Cash

....

$243,275

15, 1926

104

P.D.

8,

Part III.

Rates and Averages on Loans
100 real estate loans (average, $2,433 each; average rate, 6%'): 6%, $243,275.
42 share loans (average, $340 each; average rate, 6%): 6%, $14,260.
1 loan on paid-up share

certificates:

6%,

$180.

Total Expenses for Year

Amount paid
Cost

for
per $1 ,000 of assets
.

Salaries

Rent

$1,647.14
6.28

$793.10
3.02

•

Advertising

$62 69
.

.24

Other
Expenses
$518.10
1.98

Total
$3,021.03
11.52

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

May

10, 1916.

Began business July

12,

E.

W.

1916

William E. Mulliken, Treasurer

Hallie C. Blake, President

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.

Board of

Regular meetings for receipt

of

moneys the second Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

certificates

Temporarj' expense account
Insurance and taxes paid

Cash

Liabilities

5762,275 00
28,000 00
1,000 00

254 88
340 52
13,798 59

Dues

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans

Bills

Security committee

15,

1926

P.D.

8,

Part

105

III.

LOWELL — B.

F.

BUTLER CO-OPERATIVE BANK

Incorporated October 30, 1901.

Began business November

Board of Directors

:

L.

1,

1901

Gardner W. Pearson, Treasurer

H. Stanley Crysler, President

D. Abbott*, H. S. Crysler*, W. R. Jeyes, R. E. Jodoin, F. A. Major,
F. H. Pearson, G. W. Pearson*, M. G. Rogers, H. A. Smith.

Regtilar meetings for receipt of

moneys the

first

G. MoKittrick,

F.

Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Real estate by foreclosure,
Cash

7,

$144,850 00
1,425 00
1,867 96
10,982 25

etc.

.

Dues capital
Profits capital

$84,070
17,396
37,600
14,000

.

Matured share

certificates
share certificates

Paid-up

Forfeited share account

3
3,310
1,834

.

Guaranty fund
Surplus

Due on uncompleted

900

loans

Security committee

11

00
00
00
27
93
00
00

—

....
—

Membership

Shares
641
280

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

Withdrawn during year

00
01

$159,125 21

$159,125 21

Issued during year

1926

Liabilities

.

.

.

.

.

.

.

.

Forfeited during year

9

Shares in force
1,920
855
Shares now pledged
IMatured shares represented by certificates
188
Paid-up shares represented by certificates
70
New series issued in February, May, August, November.

Members
Members who
Holders

of:

210
66

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

187
47
15

.

certificates

Profits Distributed
Unmatured Shares and Matured Share

Certificates

1%%; second term, l?-s%;
fourth term, l^s%.

First term,

1%%;

Paid-up Share Certificates
X}i%; second term, \\i%:
fourth term, 1M%.

First term,

1M%;
Proportion of profits retained on voluntary withdrawals

25%

on

series less

than 4 years

old;

10%

third term,

third term,

thereafter.

Rates and Averages on Loans
60 real

estate loans (average,
7%, $5,4,50.

$2,414 each; average rate, 6%):

6 share loans (average, $238 each; average

rate,

5%,

Total Expenses for Year
Salaries

.\mount paid for
Cost per $1,000 of assets
.

$10,600;

6%, $117,200; G}4%. $11,600:

6.19%): 6%, $1,125; &i4%, $50; 7%, $250.

P.D.

106

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

Dues

.S4,S74,000 00

.....
.

$2,649,063 00

capital
Profits capital

00
00
00
99
99
89
93
66
90S 65
206 95
86,394 48
99,520
16,470
1,410
13,435
79,668
14,378
1,458
2,875

....

Cash

519,1.30 54

Matured share

1,280,800 00

certificates
share certificates

Paid-up

Forfeited share account

517,800
303
86,405
44,623
50,000
20,750
24

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

Guaranty fund

Surplus
Bills payable for

money borrowed
Due on uncompleted loans
Due on foreclosure sale
Dividends on matured share
cates

Dividends on paid-up share
cates

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

15,355 38

certifi

6,472 50

$5,190,728 54

Membership

Shares

Withdrawn during year
Forfeited during year

00
58
75
59
00
00
20

certifi

$5,190,728 54

Issued during year

1926

Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Banking house
Unpaid interest
Unpaid fines
Permanent expense account
Insurance and taxes paid
Personal accounts

Part III.

8,
15,

Members
Members who

12,104
6,895

400

Holders

of:

— are borrowers

.

6,131
1,866

.

.

.

5,378
1,160

.

.

.

486

....

Unmatured shares
Matured share certificates

3,523
Matured during year
56,944
Shares in force
28,210
Shares now pledged
6,404
Matured shares represented by certificates
2,589
Paid-up shares represented by certificates
New series issued in February, May, August, November.

.

.

Paid-up share

certificates

Profits Distributed

Unmatured Shares
First term,

1%%;

second term, l?-8%; third term,

1,3/r%: fourth term,

1^%-

Matured and Paid-up Share
First term.

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

25% on

1M%;

second term,

fourth term,
series less

Certificates

1M%;

third term,

1M%10%

than 4 years old;

thereafter.

Rates and Averages on Loans
1

573

$4,531,500;

6^%,

.2^7 sAareZoa7is (average,

5%, $294,100

average rate, 5.94%);

real estate loans (average, $3,100 each;

%, 836,050;

6%

$12,350.

$373 each; average

21 loans on matured share certificates:
6 loans on paid-up share certificates:

6%,
6%,

rate,

6.01%): 5%,, $280; 6%, $95,970; 6)^%,

.$3,270

$16,470.
$1,410.

Total Expenses for Year

Rent

Salaries

Amount

$10,267.10
1.98

paid for
Cost per $1,000 of assets
.

Other
Expenses
$8,416.63
1 62

Advertising

3,264.07

$2,-560.43

.

Total
$27,508.23
5 30
.

LOWELL — MIDDLESEX CO-OPERATIVE BANK
Incorporated

November

2,

1892.

Began business November

3,

1892

William D. Brown, Treasurer

William M. Sherwell, President

Board of Directors: W. D. Brown, H. W. Coburn, C. W. Dana*, Arthur Genest, E. J. Gilmore, S. C. Gulline,
N. D. Keables*, F. S. Kingsbury, S. G. Pillsbury, W. M. Sherwell*, P. J. Wilson.
Regular meetings for receipt of moneys the

last

Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Leans on real estate
liOans on shares
Real estate by foreclosure,
Unpaid interest
Cash
.

.

.

.

29,

1926

Liabilities

Assets
,926,150 00
etc.

.

48,280
9,715
6,494
31,196

on
34
38
38

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

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

33

00

3,882 50
certifi-

2,360 00

$2,021,836 10

$2,021,836 10

* Securitv

00
20

00
00
00
07

certifi-

cates

Dividends on paid-up share

$1,196,594
257,895
310,600
188,800
2
37,157
18,645
5,900

Committee.

P.D.

8,

Part

107

III.

Membership

Shares
Issued during year

Members
Members who

507
355
6S

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
New series issued in February, May, August

Holders

of:

2,294
are borrowers

—

741

....

Unmatured shares
Matured share certificates

,016
,287
,200

Paid-up share

553
944

certificates

.

.

.

,

.

.

.

.

.

1,969

263
173

Profits Distributed

•^O"

Unmatured Shares

vember.

First term,

1%%;

second term,

1%%.

\ys%\ fourth term,

\%%\

Matured and Paid-up Share

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

First term,

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

25% on

Certificates

1M%;
10%

than 4 years old;

series less

third term,

third term,

thereafter.

Rates and Averages on Loans
(average, $3,189 each; average rate, 5.78%): 5%, $190,200; 5^%. $19,300;
$1,715,650; 6J^%„ $1,000.
71 share loans (average, $680 each; average rate, 6%): 5%, $130; 6%, $47,300; 6^%, $850.

604

real estate loans

6%,

Total Expenses for Year

Amount paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$5,012.00
2.46

$963 30

$104.89

.49

.05

.

Other
Expenses
$832.24

Total
$6,912.43
3.41

.41

LYNN — EQUITABLE CO-OPERATIVE BANK
Incorporated October
Frederick

W.

2,

1877.

Began business October

8,

1877

Edwin

Hixon, President

C. Lewis, Treasurer

Jessie T. Seeton, Assistant Treasurer

of Directors: J. E. Blanohard, T. B. Curtis, A. J. Higgins, F. W. Hixon, H. W. Howard*, Charles Leighton, E. C. Lewis*, C. L. Long*, W. D. Martin, F. L. Perkins*, F. J. Richards, Z. L. Seymour, A. B. Tolman, F. A. Turnbull, J. W. Whyte.

Board

Regular meetings for receipt of moneys the

first

Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Permanent expense account
Temporary expense account
Insurance and taxes paid
Cash

....

6,

1926

Liabilities
D,06 1,400 00

303,530
12,820
5,960
19,478
4,478
2,794

00
00
00
72
60
42
574 36
289,614 24

Dues

capital
Profits capital

$6,555,007
1,341,859
1,342,000
1,040,600
6,171
3
204,334
118,745
55,346
1,065
5
35,512

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Due on uncompleted

loans

$10,700,650 34

257

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in April, October.

......
—
Membership

32,366
22,852

Forfeited during year

36
10

80
38
30
00
20

$10,700,650 34

Shares
Issued during year

Withdrawn during year

00
24
00
00
96

4,112
137,605
61,671
6,710
5,203

Members
Members who
Holders

of:

are borrowers

....
.

Unmatured shares
Matured share certificates

.

Paid-up share certificates

.

.

.

.

.

.

.

Profits Distributed

Unmatured Shares
First term,

2%%;

second term, 3%.

Matured and Paid-up Share Certificates
First term, 2H%; second term, 2>4%.
Proportion of profits retained on voluntary withdrawals, none.
* Security

Committee.

10,994
3,848
10,178
1,053

786

P.D.

108

8,

Part III.

Rates and Averages on Loans

5M%,

3,841 real estate loans (average, $2,619 each; average rate, 5.97%):
$4,600.
1,253 share loans (average, $242 each; average rate, 6.01%): 5%, $350;
$4,220.
47 loans on matured share certificates: 6%, $12,820.
S3 loans on paid-up share certificates: 6%, $5,960.

$571,600;

6%,

$9,485,200;

7%,

5J^%, $570; 6%, $298,390; 7%,

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

Total

820,480.70
1.91

52,676.63
.25

$5.50

$6,244.84

529,407.67

.58

2.74

LYNN — LINCOLN CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 48 Central Square, Lynn, and 50 State Street,
Boston)
Incorporated April
Jesse

M.

Board of

7,

1909.

Began business April

Directors: E. H.
Butterfield*, T. J.

Ballard, E.

E P

H. R. Stanbon, G. T.

26, 1909

Edward M. Barney,

Holder, President

M. Barney*,

Dumas, G. B. Grant,
Harry Turner*.

W. A. Bishop,
Kenneally, W. M. Nye,

I..

L. Barney. .James Bennett,

J.

M.

Holder*, E.

J.

Treasurer

E. E. Boyer,
A. E. Quick,

Till*,

Regular meetings for receipt of moneys the

last

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities

Assets

Loans on real estate
Temporary expense account
Cash

....

$946,810 00
120 50
11,040 16

$957,970 66

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

3,303
1,846

597
9,968
4,877
1,886

459

25, 1926

P.D.

8,

109

Part III.

LYNN — LYNN CO-OPERATIVE BANK
Incorporated

November

18, 1891.

Began business November

23, 1891

Charles B. Bethune, Treasurer

Frank E. Wells, President
Pauline Crabtre, Assistant Treasurer

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, O. L. Upham, E. E. Wells, F. E. Wells.

Board

of Directors:

Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

,192,660 00

66,375 00

00
3,760 00
.5,485

.....

9,139 14
104,619 43

Dues capital
Profits capital
Matured share
Paid-up

....
....

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Bills payable for

.

.

.

.

.

.

.

money borrowed
Due on uncompleted loans
.

Dividends on matured share
Dividends on paid-up share
cates

$3,332,038 57

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
series issued in

May, November

1926

.

.

$1,697,157
315,284
788,600
323,600
122
52,417
42,248
100,000
36,445

00
48
00
00
81

44
88
00
94

certifi-

18,072 02

cates

New

4,

Liabilities

certifi-

8,090 00

$3,382,038 57

P.D.

8,

OCTOBER

4,

110

STATEMENT OF CONDITION AT THE

CLOSE OF BUSINESS,

Part III.
1926

Liabilities

Assets

Dues

$460,850 00
9,800 00
435 02
724 97
8,272 39

Loans on real estate
Loans on shares
Temporary expense account
Rent and light
Cash

....

S353,777 00
76,606 92
27,400 00
1,167 25
5,616 09
9,958 41
5,364 93
100 41

capital
Profits capital
.

Paid-up share

certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

75
74 62
16 00

Withdrawal profits
Security committee

$480,082 38

$480,082 38

......
—
Membership

Shares

Members
Members who

1,143

Issued during year

776
85

Withdrawn during year
Forfeited during year

....

Holders of:
LTnmatured shares
Paid-up share certificates

6,514
Shares in force
2,471
Shares now pledged
137
Paid-up shares represented by certificates
New series issued in March, June, September, De^
cember.
.

.

730
162

are borrowers

714
20

Profits Distributed

Unmatured Shares
l^/u%; second term, 1^/16%;
lVi6%; fourth term, lVi6%.

First term,

Paid-up Share

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

series less

1M%;

term,

third

1M%.

fourth term,

20% on

Certificates

lJi%; second term,

First term,

third term,

than 5 years old; after

5 years,

Rates and Averages on Loans
131 real estate loans (average, $3,518 each; average rate, 6.42%): 5^%, $13,400; 6%, $44,600;
$402,850.
31 share loajis {average, $316 each; average rate, 6.35%): 6%, $2,900; 6}^%, $6,900.

6>^%

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$1,120.00

$616.94

Advertising
$74 25
.

.16

Other
Expenses
$530 55
1.10
.

Total
;2,341.74

4.87

MALDEN — MALDEN CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Second National Bank, Boston)
Incorporated April 27, 1887.

May

Began business

Board of Directors: H. C. Bacon, H. H. Barrett, F. A. Bayrd,
Grant, G. H. Hartley, Lloyd Makepeace, William Niedner,
pole,* E.

9,

1887

Lawrence H. Marston, Treasurer

Lloyd Makepeace, President
J.

L.

M.
W.

Corbett, G. D. Crawford*, Alexander
Ransom, E. S. Stack-

Pillsbury, C. E.

B. Stiles*.

Regular meetings for receipt

of

moneys the second Monday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on real estate
Loans on shares
Loans on matured share certificates
Insurance and taxes paid
Cash
.

.

11,

1926

Liabilities

Assets
.

,312,500 00

65,645 00
6,210 00
363 29
171,385 74

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

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

.

.

.

.

Guaranty fund

Surplus
Bills payable for

money borrowed

Due on uncompleted

loans

Dividends on matured share

.

.

cates

$4,556,104 03

* Security

00
SO
00

00
45
87
34

00
82

certifi-

19,703 75

cates

Dividends on paid-up share

$1,997,409
394,406
1,782,200
113,200
1,026
57,063
57,524
90,000
42,204

certifi-

1,365 00

$4,556,104 03

Committee.

P.D.

8,

Part III.

111

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

....

Membership

Shares

Issued during year

Withdrawn during year

19,905
7,4.30

Forfeited during year

.30

5,763
Matured during year
49,656
Shares in force
25,868
Shares now pledged
8,911
Matured shares represented by certificates
566
Paid-up shares represented by certificates
New series issued in February, May, August, November.

Members
Members who
Holders

5,603
1,458

— are borrowers

of:

Unmatured shares
Matured share certificates
Paid-up share

4,253
1,258

.

92

certificates

Profits Distributed

Unmatured Shares and Matured Share

1%%;

First term,

second term,

l%%;

Certificates

third term,

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

1M%;

First term,

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

1M%.

fourth term,

20% on

series less

than 5 years

after 5 years,

old;

Rates and Averages on Loans
1,303 real estate loans (average, .?3,304 each; average rate. 6.37%): 5%, S33,100; 5M%, $290,175;
$46,100; 5M%-$500; 6%, $245,800; 6i^%, $3,672,225; 7%, $24,600.
338 share loans (average, $194 each; average rate, 6.48%): 6%, $1,365; 6M%, $64,280.
19 loans on matured share certificates: 6M%, $6,210.

5J^%,

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$8,836.62
1.94

$1,722.40

$1,097.39

.38

.24

Other
Expenses
$4,966.06
1 09
.

Total
$16,622.47
3 65
.

MANSFIELD — MANSFIELD CO-OPERATIVE BANK
Incorporated March 10, 1883.

Began business March

1883

21,

Herbert E. King, Treasurer

Daniel C. Richardson, President

H. W. Butterworth, O. P. Cook*, C. N. Crane*, T. J. Fox*, J. R. Hodges, H. E. King,
Austin Mason, William Olliff, J. W. Rathburn, D. C. Richardson, K. C. Sherman, A. E. Shields, H. W.
Snyder, John Somers, R. W. Wheeler.

Board of

Directors:

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share
Unpaid interest
Unpaid premiums
Unpaid fines
Cash

20, 1926

Liabilities

00
39,900 00
100 00

,330,1.50

certificates

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

Dues capital
Profits capital
.

.

.

.

.

.

.

.

.

$850,073

Matured share

5,181 92
108 61
315 18

Paid-up

48,577 57

Surplus

certificates
share certificates

...

Forfeited share account

Guaranty fund

.

.

Due on uncompleted
Personal accounts

.

.

.

Dividends on matured share
cates

.

.

.

Dividends on paid-up share
cates

.

.

.

loans

.

.

.

.

.

certifi.

.

certifi.

.

$1,424,333 28

Forfeited during year

3,160
1,850
20

Matured during year

415

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

New

series issued in

....
—

Membership

Shares
Issued during year

15,779
7,524
1,010

Members
Members who
Holders

of:

are borrowers

.

Unmatured shares
Matured share certificates
Paid-up share

certificates

Profits Distributed

565

May, November.

Unmatured Shares
First term,

3%; second

term,

3%.

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

P.D.

112

8,

Part III.

Rates and Averages on Loans
666 real estate loans (average, $2,350 each; average rate, 6.12%): 612/100%, $1,330,150.
87 share loans (average, $459 each; average rate, 6.48%): 6"/ioo%, $39,900.
i loan on matured share certificates : 6%, $100.

Total Expenses for Year

$244 50

$26.50

Other
Expenses
$825.30

.17

.02

.58

Rent

Salaries

Amount

$4,270.00
2.93

paid for
Cost per $1,000 of assets
.

Advertising

.

Total
$5,366.30
3.70

MARBLEHEAD — MARBLEHEAD CO-OPERATIVE BANK
Incorporated

May

5,

1886.

May

Began business

1886

6,

Henry C.

John Lancy, President

Millett, Treasurer

Board of Directors: E. D. Chapman. H. A. Coffin, G. N. Dennis, R. B. Hamson, W. T. Harris, John Lancv,
J. L. Litchman, J. A. Martin*, W. G. Martin, Frank Millett*, H. C. Millett, J. D. 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 BUSINESS, OCTOBER
Assets

Bonds and notes
Loans on real estate
Loans on shares
Unpaid interest
Unpaid fines
Insurance and taxes paid
Cash

$13,003 36
638,850 00
17,180 00

.

,

.

.

,

7,

1926

Liabilities

Dues

capital
Profits capital
.

.

.

.

.

.

.

.

,

Matured share

certificates
share certificates

1,196 70
185 12

Paid-up

Guaranty fund

.

.

.

.

260 76
28,468 62

Surplus

.

.

.

,

loans
Dividends on matured share
cates
Dividends on paid-up share
cates

$599,144 56

.

Due on uncompleted

....
....

certificertifi-

$423,928 00

P.D.

8,

Part

113

III.

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

Sumner

Westborough Drug Company, Westborough)

May

Began business

Incorporated April 16, 1S90.

1,

1S90

Claude E. Williams, Treasurer

P. Willard, President

J. F. Bigelow*, F. E. Brunelle, M. J. Buckley, C. A. Cook, J. A. Curtiss, W. S.
M. Forbush, A. C. Lamson, F. W. McKenzie, J. F. J. Otterson*, F. W. Pratt,
E. Warren*, S. P. Willard, C. E. Williams, T. F. Williams*, S. P. Wood.

Board of Directors: E. E. Allen,
Field. F. B. Fletcher*, A.
J.

Regular meetings for receipt of moneys the second Thursday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

14,

1926

Liabilities

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

Dues

00
00
00
04
58
333 42
78,444 13

S2,.328, 300

capital
Profits capital

39,730
14,180
4,560
3,147

certificates
share certificates

Paid-up

00
22
00
00

$1,181,348
205,600
895,200
51,800

.

Matured share

Forfeited share account

11 71

Guaranty fund

32,341
16,430
67,110
2,144
4
1,374
15,150
180

Surplus
Interest

Fines
Transfer fees
.

Withdrawal profits
Due on uncompleted loans
Security committee
$2,468,695 17

51

05
.57

72
00
39

00
00

$2,468,695 17

.....
—
Membership

Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Matui'ed shares represented by certificates
Paid-up shares represented by certificates
New series issued in May, November.

Members
Members who

6,508
3,079
69
1,695
24,975
13,628
4,476

Holders

of:

2,889
1,009

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

2.390

747
42

.

certificates

Profits Distributed

259

Unmatured Shares
First term,

3%; second

3%.

term,

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

Certificates

2]4%; second term, 2}i%.

Proportion of profits retained on voluntary withdrawals, 20% on series
the last six months' dividend.

than 5 years old; after 5 years,

less

Rates and Averages on Loans
1,190 real estate loans (average, $1,957 each; average rate, 6.05%): 5%, $3,350; 514%, $154,750Sl,771,200; 63^%, $399,000.
3^5 s/iareioan^ (average, $126 each; average rate, 6.19%): 5J^%, $300; 6%, .124,310; 6><%, $15 120
24 loans on matured share certificates: 6%, $11,250; 63^%, $2,930.

6%

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of assets

$3,500.00
1.42

,

Rent

Advertising

$945.00

$395.00

Other
Expenses
$1,500.38

.38

.16

.61

Total
$6,340.38
2.56

MEDFIELD — MEDFIELD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 23 South Street, Medfield; E. V. Mitchell Factory, Medfield; Thome's Grain Store, Millis)
Incorporated December 29, 1905.

Began business January

Ellery C. Crocker, President

Board of Directors: W. F. Abell*,
Cushman, F. E. Day, J. A.

Mayo,

J.

W.

8,

1906

Laprelette

W.

Wheeler, Treasurer

Atherton, R. B. Blood, A. L. Clark, L. K. Conant, E. C. Crocker,
Fitts*, M. E. Griffin, Frank Hamm, G. P. Holbrook, M. B. La Croix
Payson, E. F. Richardson, H. H. Thorne*, L. W. Wheeler.
J. L.

Regular meetings for receipt of moneys the second
* Security

Committee.

Monday

of each

month.

H N
L

e'

P.D.

114

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on matured share certificates
Banking house
Temporary expense account

Bank

building expense

8,

Liabilities

$887,925 00
15,005 00
2,735 00
5,000 00
1,279 59
167 93

Dues

$419,319
71,194
303,000
58,200
16,000
11,718
5,413

capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Matured share account
Guaranty fund
Surplus
Fines
Transfer fees
Due on uncompleted loans
Other liabilities

.....
—
Membership

2,463
1,312

Withdrawn during year
Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in January, July.

559

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates

9,931
5,267
1,515
291

Profits Distributed

Unmatured

3%; second

2%%;

First term,

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

second term, 2%%'.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans

6%,

rate, 6%): 6%, $887,925.
6%): 6%, $15,005.

average
rate,

$2,735.

Total Expenses
Salaries
.

$2,066.64
2.27

3%.

Certificates

First term,

Paid-up Share

2S share loans (average, $535 each; average

Sharet?

term,

Matured Share

real estate loans (average, $2,911 each;

840
.

Paid-up share certificates

First term,

paid for
Cost per $1,000 of assets

58
23

$912,112 52

Shares
Issued during year

Amount

96

00
00
00

341 47
3 50
9,594 13
266 16

$912,112 52

loans on matured share certificates:

00

17,061 49

Interest

.30-5

Part III.

11. 1926

Certificates

241
58

P.D.

8,

Part III.
Shares

116

P.D.

8,

Part

III.

Rates and Averages on Loans
1,^94 real estate loans (average,
,455 each; average rate, 6.37%): 5%, $3,900; 5)^%, $327,100; 6%, $512,050;
6>-2%, $3,627,950.
390 share loans (average, $249 each; average rate, 6.48%) 5}4%, $430 6%, $2,770; 6H%, $93,740.
46 loans on matured share certificates: 6%, $1,800; 6H%, $18,080.
3 loans on paid-up share certificates: 6J^%, $1,100.
:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Other
Expenses

Salaries

Rent

$13,889.18
2.94

$1,074.24

$1,066.60

$2,731.85

.23

.22

.58

Advertising

Total
$18,761.87
3.97

MEDFORD — WEST MEDFORD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: American Trust Company, Boston;
Cahalan, Central Block, Medford Square, Medford)
Incorporated
Albert

W. Hathaway,

May

9,

1924.

Began business June

10,

J.

Frank

1924

Arthur W. Byam, Treasurer

President

Directors: F. W. Abbott, J. B. Adam.s*, E. R. Brackett, A. W. Bvam. J. F. Cahalan, L. M. Child,
W. F. Colby, T. D. Collins*, M. G. P. Cressy, E. C. Farrington, J. R. Gaffev, A. D. Hall*, A. W. Hathaway, G. E. Healev, F. W. Holmes, W. F. Hosmer, W. H. Marden, D. B. Mulcahy*, W. G. Perry, A. C.
Peters, W. F. Pinkham, W. J. Reilly, L. O. White, W. F. Wiltshire*.

Board of

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

....

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

.

.

.

.

.

.

Liabilities

$163,600
4,968
155
63

00
00
72

01
8,777 93

$177,564 66

Shares
Issued during year

Withdrawn during year

1,680

875
160
Shares in force
6,862
Shares now pledged
1,173
66
Paid-up shares represented by certificates
New series issued in March, June, September, December.
Forfeited during year

13,

1926

P.D.

8,

117

Part III.

MEDWAY — MEDWAY

CO-OPERATIVE BANK

(Other authorized locations for receipt of moneys: Bellingham Woolen Co., North Bellinghanr>;

Herman Shoe
Incorporated September

W.

William

7,

1915.

Co., Millis)

Began business October

5,

1915

Daniel

Ollendorff, President

M.

Malloy, Treasurer

Directors: J. A. Cole*, J. F. Collins, P. B. Hart*, W. H. Holbrook, R. W. Hunter*, D. M. Malloy,
T. F. Malloy*, F. J. O'Donnell, R. M. O'Donnell, T. E. O'Donnell, W. W. Ollendorff* J. H. Reardon,
E. F. Richardson, A. L. Saunders, C. A. Smith.

Board of

Regular meetings

for receipt of

moneys

the

first

Tuesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Temporary expense account
Cash

....

5,

$389,620 00
12,365 00
179 19
12,444 11

Dues

$312,915 00
63,981 00
20,600 00
474 60
4,628 67
8,293 95

capital
Profits capital
.

Paid-up share certificates
Forfeited share account
Guaranty fund

.

Surplus

2,445 49

Interest

Fines
Transfer fees

68 63
50
106 46

Withdrawal profits
Due on uncompleted loans
Security committee
Personal accounts

1,000 00

10 00
84 00

.

$414,608 30

$414,608 30

.....
—
Membership

Shares
Issued during year

Withdrawn during year

1926

Liabilities

1,026

970
30

.

Forfeited during year

Shares in force
iShares now pledged
Paid-up shares represented by certificates
New series issued in April, October.

Members
Members who
Holders

of:

are borrowers

Unmatured shares

6,406
2,363
103

Paid-up share

667
194
658
18

certificates

Profits Distributed

Unmatured Shares
First term,

3%; second

term,

3%.

Paid-up Share Certificates
First term, 2)2%; second term, 2>2%Proportion of profits retained on voluntary withdrawals,
none.

20%

on

series less

than 5 years

old;

Rates and Averages on Loans
Ids real estate loans (average, $2,46& each; average rate, 6.99%) 6%, $28,000; 7%, $361,620.
38 share loans (average, $325 each; average rate, 6.95%): 6%, $450; 7%, $11,915.
:

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

after 5 years,

P.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

2,

118

....

Assets

Dues

•11,800,705 00

Matured share
Paid-up

certificates
share certificates

Forfeited share account

.

Guaranty fund

434 11
114 50
32,017 79

.

00
99
00
00
00
87
15,.54S 37
6,169 23
197 87
50
131 02

$1,037,628
197,811
363,800
180,800
15
25,823

capital
Profits capital

35,020 00
4,955 00
3,000 00
428 42

.....

Cash

1926

Liabilities

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

Part IIL

Surplu.s
Interest

Fines
Tran.sfer fees
Withdrawal profits
Bills payable for money

Due on uncompleted
Security committee
Personal accounts
Overs and shorts

borrowed

40,000 00

600 00
29 00
94 46

loans

.

25 51

$1,876,674 82

$1,876,674 82

....
—

Membership

Shares

Members
Members who

6,133
Issued during year
3,7.57
"Withdrawn during year
655
Matured during year
24,179
Shares in force
10,601
Shares now pledged
1,819
Matured shares represented by certificates
904
Paid-up shares represented by certificate,
October.
January,
April.
July,
in
New series issued

Holders

of:

are borrowers

2,546

638

.

Unmatured shares
Matured share certificates
Paid-up share

2,149
331
161

certificates

Profits Distributed

Unmatured Shares
lVi6%; third term,

First term, l^/i6%; second term,

lVi6%; fourth term, lVi6%.
Matured Share
Fir.st

Certificates

term, 16/i6%; second term, 15/i6%; third term,

lVi6%; fourth term, lVi6%.
Paid-up Share
First term,

1M%;

Certificates:

l}4%; second term,

1M%;

third term,

1M%-

fourth 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

6%,

average rate, 5.97%); 5}/^%, $82,850;
141 share loans (average, $248 each; average rate, 6%): 6%, $35,020.
6 loans on matured share certificates: 6%, $4,955.
6 loans on paid-up share certificates: 6%, $3,000.

537

real estate loans {aveTsige, $3,417 each;

$1,717,855.

Total Expenses for Year
Salaries

Amount

paid for

Cost per $1,000

$3,882.10

.

Rent
$912.80

Advertising

$248 60
.

.13

of assets

Other
Expenses
$2,028.91
1.08

,072.41

3.76

MERRIMAC — ECONOMY CO-OPERATIVE BANK
Began business August

Incorporated July 26, 1889.

Fred

S.

12, 1889

Clifton B. Heath, Treasurer

Hardwick, President

Board of Directors: G. W. Davis, H. M. Emery*, F.
G.

S. Preble,

A.

W.

S.

Hardwick, C. B. Heath, Zenas Lovell, C. W. Morrell*,

Sawyer*,

I.

A. Williams.

Regular meetings for receipt of moneys the second
* Security

Committee.

Monday

of

each month.

P.D.

8,

119

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

11,

Liabilities

Assets

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

iS

Dues

capital
Profits capital

160, 57 5 00

10,075 00
542 13
29 00

.

....

.81

.

Guaranty fund

75 76
287 27
.3,470 69

.

1,091 89

Interest

2,550 95
134 05
74 14
2.55 71

Premiums
Fines
AVithdrawal

profits

$175,054 85

.....
—
Membership

Shares
Issued during year
Withdrawn during year
Retired during year
Matured during year

Members
Members who

349
42
16

Holders

of:

Unmatured shares

313

Profits Distributed

February, August.

Unmatured Shares

3%; second

First term,

Proportion

313
144

are borrowers

2,476
1.166

Shares in force
Shares now pledged
series issued in

00
29,195 45
3,.360 66
38, .392

Surplus

$175,054 85

New

1926

of profits retained

term,

3%.

on voluntary withdrawals, 10%.

Rates and Averages on Loans
126 real estate loans (average. $1,274 each; average rate, 6.3%): 6Vio%, $160,575.
36 share loans (average, $279 each; average rate, 6.3%); 6Vii)%, $10,075.

Total Expenses for Year

Rent

Salaries

Amount

$800.00
4.57

paid for
Cost per $1,000 of assets
.

Advertising

$150.00

Other
Expenses
$118.70
.68

Total
$1,068.70
6.11

METHUEN — METHUEN CO-OPERATIVE BANK
Incorporated April

Frank

4,

1923.

Began business April

13,

1923

Raymond

A. Gordon, President

B. Kinney, Treasurer

Board of Directors: H. E. Brown, H. A. Cregg, Thomas Dow*. J. D. Emerson, A. H. Gammons, A. C. Gaunt,
B. B. Gordon, F. A. Gordon, B. E. Hill*, R. B. Kinney, J. H. Lord, C. I. Lyons, A. J. Richardson, E. E.
Richardson*, C. A. Stevens.

Regular meeting for receipt

of

moneys the

last

Saturday

of

each month.

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

....

$99,250 00
3,875 00
540 97
75 00
50 92
5,334 27

Dues capital
Profits capital

$93,192 00
8,782 20
2,000 00
1,027 28
644 82
919 96

.

Paid-up share

certificates

Forfeited share account

.

Guaranty fund
Surplus
Interest

Fines

....

748 81
12 94
942 57
855 .58

Withdrawal profits
Due on uncompleted loans
$109,126 16

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

$109,126 16

.....
—
Membership

Shares

Issued during year

Withdrawn during year

30, 1926

Liabilities

Assets

463
618

2,721
Shares in force
566
Shares now pledged
10
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Members
Members who
Holders

of:

are borrowers

256
54

L'^nmatured shares

Paid-up share

certificates

Profits Distributed

V nmatured

Sharts

l?s%; second term,
1V8%; fourth term, 1J^%.

First term,

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

Committee.

1 Jj'

third term,

P.D.

120

Part III.

8,

Rates and Averages on Loans
37 real estate loans (average, $2,682
1,682 each; average rate, 6.50%): 6J^%, $99,250.
17 share loans (average, $227 each; average rate, 6.50%); 6i4%, $3,875.

Total Expenses for Year

Amount

paid for
Cost, per $1,000 of assets
.

Salaries

Rent

Advertising

$128.00

$65.08

$23.75

.60

.22

Other
Expenses
$160.47

Total

$377.30
3.46

1.47

MIDDLEBOROUGH — MIDDLEBOROUGH CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: C. N. Atwood, Atwood's Mills, Rock; office
and residence of Edwin L. Ballard, Hyannis; W. I. Fuller, Main Street, Osterville; residence
of G. W. Jones, Falmouth; National Rockland Bank, Boston)
Incorporated Alay

1,

Began business

1889.

May

21,

1889

Alvin C. Howes, President

Walter L. Beals, Treasurer
Irene B.

Dunham,

Assistant Treasurer

Board of Directors: C. N. Atwood*, L. O. Atwood, W. L. Beals, S. L. Brett, G. N. Dupont, A. C. Howes*,
J. H. Kennedy, L. B. Mendall, A. F. Mitchell, H. W. Sears*, H. W. Sears, Jr., D. D. Sullivan*, J. V.
SulhVan, A. A. Thomas, Lorenzo "Wood*.
Regular meetings for receipt of moneys the third Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
"

Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Insurance and taxes paid

,887,100
17,670
4,470
5,610

Cash

Dues capital
Profits capital

00
00
00
96

.....

157,947
711,400
103,400
375
98,768

certificates
share certificates

Paid-up

Forfeited share account
Matured share account

.

loans

08
certifi

10,196 67

Dividends on paid-up share

certifi-

1,292 50

cates

$1,999,409 99

$1,999,409 99

....
—

Membership

Shares

Matured during year

92

12,105 46
32,726 61
117 00

cates

Forfeited during year

00

27,7.35 31

Dividends on matured share

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

00

00

Surplus

Due on uncompleted

Withdrawn during year

00
44

Guaranty fund
Security committee
Overs and shorts

Issued during year

1926

.•$84.3,345

.

Matured share

250 81
25,000 00
59,308 22

Certificates of deposit

19,

Liabilities

Members
Members who

4,929
2,335
57
1,111
18,571
10,002
3,557

843

Unmatured shares
Matured share certificates

1,655
611
71

Holders

Shares in force
Shares now pledged
Matured .shares represented by certificates
Paid-up shares repre.sented by certifi.cates
517
New series issued in February, May, August, November.

2,061

are borrowers

of:

.

Paid-up share certificates
Profits Distributed
Unmatured Shares and Matured Share

1%%; .second term,
fourth term, 13^^%.

First term,

1%%;

First term,

IH%;

1%%;

Certificates

third term,

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

1M%;

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
793 real

estate loans (average,

6%,

$2,380 each; average rate, 5.99%);

5%,

$2,300;

5^%,

$2,300; o}'-j%. $32,800;

$1,849,700.

65 share loans (average, $321 each; average rate, 5.99%): 5J^%, $200; 6%, $17,470.
12 loans on matured share certificates: 6%, $4,470.

Total Expenses for Year
Salaries

Amount paid

for

.

S6,534.53

Rent
$572.52

Cost per $1,000 of assets
* Security

Committee.

Advertising

Other
Expenses

$349.92

$1,871.17

Total
9,328.14

.17

.94

4.67

P.D.

121

Part III.

8,

MILFORD — MILFORD
Incorporated

March

CO-OPERATIVE BANK
Began business April

31, 1887.

1887

1,

Walter F. Mann, Treasurer

Lucius E. Heath, President

Minnie

S.

Walker, Assistant Treasurer

C F Austin, H. S. Chadbourne*, C. L. Clark*, C. E. Cooney, G. C. Eastman, L. E. Heath*,
Lawless, L. B. Libbey, R. Mainini, W. F. Mann, W. S. Marden, J. A. Wallace, Arthur Webb, T. J.
Whipple.
Welch*, F. A.

Board of Directors:

P

J.

Regular meetings for receipt of moneys the

first

Monday

of each

month.

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

.

4,

1926

Liabilities

Assets
.

....

Dues capital
Profits capital

00
00
00
00
92
400 00
474 26
10,418 46

$1,660,700
38,395
2,420
1,050
161

$1,011,855
206,614
254,400
168,200
38,509
18,953
4,937
30
10,400

.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus
Interest

Withdrawal profits
Due on uncompleted loans
Due on foreclosure sale

00
73
00
00
60
62
55
96
00

118 18

.

$1,714,019 64

$1,714,019 64

....
—

Membership

Shares

Members
Members who

4,000
Issued during year
2,127
Withdrawn during year
630
Matured during year
20,053
Shares in force
9,622
Shares now pledged
1,272
Matured shares represented by certificates
841
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Holders

of;

are borrowers

2,182

826

.

Unmatured shares
Matured share certificates
Paid-up share

2,161

218
153

certificates

Profits Distributed

Unmatured Shares
First term,

1%%;

second term, \^4%\ third term,

13^%; fourth term, 1?-^%.
Matured and Paid-up Share
First term,

1M%;

1J^%; second term,

fourth term,

Proportion of profits retained on voluntary withdrawals,

50%

1M%.

Certificates

1M%;

third term,

of the last dividend.

Rates and Averages on Loans
681 real

estate loans

(average, $2,439 each;

average rate, 6.86%)

5J€%, $266,050;

5M%,

$39,600;

6%,

$1,355,050.

195 share loans (average, $197 each; average rate, 6%): 5}4%, $185; 6%, $38,210.
7 loans on matured share certificates: 6%, $2,420.
S loans on paid-up share certificates: 6%, $1,0.50.

Total Expenses for Year

Rent

Salaries

Amount

paid for
Cost per $1,000 of assets
.

$5,065.00
2.95

Advertising

$529.13

$52.30

.31

.03

Other
Expenses
$3,754.02
2.19

Total
9,400.45

5.48

MILLBURY — MILLBURY CO-OPERATIVE BANK
Incorporated January 30, 1926.

Warren

Began

business February 10, 1926

Ralph W. Brigham, Treasurer

B. Harris, President

Board of Directors: W. W. Brierly, R. W. Brigham, D. J. Dempsev*, T. A. Dowd, G. K. Fisher, W. F. Germaine, W. B. Harris, C. F. Holman*, F. W. Hooper, C. E. Home, E. F. Hull, H. J. Lavallee, Alcide Mayotte, J. J. Mulhane, B. O. Paine, H. B. Proctor, E. F. Rice, G. W. Rice, M. J. Roach, W. A. Roberts,
C. L. Undergraves, C. E. Watson, J. H. Welsh, A. D. Windle, A. J. Winter, E. W. Witter*.
Regular meetings for receipt of moneys the second Wednesday of each month.
* Security

Committee.

122

P.D.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

8,

Part

13, 1926

III.

P.D.

Part III.

8,

123

....

Membership

Shares
Issued during year

Members
Members who

1,049

Withdrawn during year

812
30

Forfeited during year

Holders

of:

497
105

— are borrowers

Unmatured shares

5,840
Shares in force
1,912
Shares now pledged
152
Paid-up shares represented by certificates
New series issued in March, June, September, December.

Paid-up share

484
21

certificates

Profits Distributed

Unmatured Shares

1%%;

First term,

second term,

iys%; fourth term,

1^%-

Paid-up Share

1M%;

fourth term,

third term.

Certificates

1}4%; second term,

First term,

1M%;
1%%;

third term,

1%%.

Proportion of profits retained on voluntary withdrawals, on series 4 years old or less, 50% of last dividend;
from 4 to 8 years, 33J^% of last dividend; after 8 years, 25% of last dividend.

Rates and Averages on Loans
(average, $4,180 each; average rate,
share loans (average, $416 each; average rate, 6%):

72 real

32

estate loans

6%): 6%, $301,000.

6%,

$13,320.

Total Expenses for Year

Amount paid
Cost

for
per $1,000 of assets
.

Salaries

Rent

Advertising

$545.83

$254 23

$86.50

1.71

.80

.27

.

Other
Expenses
$420.44
1.32

Total
$1,307.00
4.10

NATICK — HENRY WILSON CO-OPERATIVE BANK
Incorporated October 23, 1886.

Began business November

12,

1S86

Harvey H. Whitney, Treasurer

George F. Whitney, President

Board of Directors: A. P. Balcom, Peter Cashion, Richard Foley, J. S. M. Glidden*, W. A. Laughton, M. E.
McGrath, L. E. Pulsifer, D. W. Richardson, E. W. Rogers, G. F. Whitney*, H. H. Whitney*, N. P. Young.
Regular meetings for receipt of moneys the second Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on

real estate

Xoans on

shares

8,

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

Assets

192G

Liabilities

$2,400,750 00
20,400 00

Loans on matured share certificates
Loans on paid-up share certificates
Common form mortgages
Cash

.....

Dues capital
Profits capital

$950,220 00

Matured share

700 00
600 00
1,850 00

Paid-up

16.483 29

Surplus

certificates
share certificates

Guaranty fund

Due on uncompleted loans
Personal accounts
Dividends on m.atured share
.

cates

Dividends on paid-up share
cates

certificertifi-

$2,440,783 29

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

vember.

....
—

Membership

Shares

Issued during year
9,975
"Withdrawn during year
2,812
Matured during year
1,738
Shares in force
22,873
Shares now pledged
12,839
Matured shares represented by certificates
5,598
Paid-up shares represented by certificates
251
New series issued in February, May, August, No-

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates

.

Paid-up share certificates
Profits Distributed
Unmatured Shares and Matured Share
First term, l}/i%;

1H%;

second term,

fourth term,

1^%-

Paid-up Share
First term,
1

M%

;

,

1

M%

Certificates

third term.

Certificates

1H%', second term,

fourth term

1M%;
1M%;

third term,

P.D.

124

8,

Part III.

Rates and Averages on Loans
619 real

estate loans (average, $3,878 each;
$3,650.

average rate, 6.49%):

6%,

70 share loans (average, .$291 each; average rate, 6.46%): 6%, $1,500;
3 loans on matured share certificates: 6}'^%, .$700.
1 loan on paid-up share certificates: 63-2%, $600.

$43,500;

6H%,

Total Expenses for Year
Salaries

Amount

paid for

J5,351.67

.

Cost per $1,000 of

a.ssets

2.19

Rent

63^%, $2,353,600; 7%,

$18,800;

Advertising

7%,

$100.

P.D.

8,

125

Part III.

NEW BEDFORD — ACUSHNET CO-OPERATIVE BANK
Incorporated

November

15, 1889.

Began business November

1889

16,

William F. Desmond, Treasurer

Frederic Taber, President

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.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
62,110,175 00
51,225 00
4,315 56

Loans on real estate
Loans on shares
Unpaid interest
LTnpaid fines

Cash

23, 1926

Liabilities

449 76

.

167,709 97

.

Dues capital
Profits capital
.

.

.

.

.

.

,

$1,354,907

Matured share
Paid-up

certificates
share certificates

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

Forfeited share account

.

Guaranty fund
Surplus
Interest

Dividends on matured share
cates

Dividends on paid-up share
cates

certificertifi-

$2,333,875 29

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

vember.

.

.

.

....
—

Membership

Shares

Issued during year
7,301
Withdrawn during year
5,421
48
Forfeited during year
Matured during year
1,423
Shares in force
29,411
Shares now pledged
13,081
Matured .shares represented by certificates
2,579
573
Paid-up share.s represented by certificates
New series issued in February, May, August, No-

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

.

certificates

Profits Distributed

Unmatured Shares
First term,

1%%;

arid

Matured Share

second term,

iys%; fourth term,

1%%.

Paid-up Share
First term,

1M%;

Certificates

third term,

Certificates

1}4%; second term,

fourth term,

1%%;

1M%-

1M%;

third term,

P.D.

126

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Real estate by foreclosure,
Banking house
Unpaid interest
Unpaid fines
Insurance and taxes paid
Cash
.

.

1926

Liabilities
;,739,800

58,125
12,820
40,000
5,643
533
307
120,985

etc.

.

Part III.

8,
15,

.

00
00

Dues capital
Profits capital

14

Matured share

00
34
30
90

Paid-up

41

Interest

.

.

.

.

,

.

.

.

,

certificates
share certificates

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

Forfeited share account

.

Guaranty fund
Surplus

.

.

.

Due on uncompleted
cates

Dividends on paid-up share
cates

.

,

loans

Dividends on matured share

00
76
00
00
258 08

$1,627,067
309,695
795,600
120,200

58,875
52,502
267
2,000

34

08
80
00

certifi-

10,246 53

certifi-

1,502 50

$2,978,215 09

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

vember.

.

.

....
—

Membership

Shares

Issued during year
8,005
Withdrawn during year
5,563
Forfeited during year
109
Matured during year
1,735
Shares in force
35,696
Shares now pledged
16,364
Matured shares represented by certificates
3,978
601
Paid-up shares represented by certificates
New series issued in February, May, August, No-

Members
Members who
Holders

of:

are borrowers

.

Unmatured shares
Matured share certificates
Paid-up share

certificates

Profits Distributed

Unmatured Shares and Matured Share
First term,

IH%;

1%%;

second term,

fourth term,

First term,

1%%;

Certificates

third term,

1%%.

Paid-up Share Certificates
second term, XM%; third term,

1M%;

1J€%; fourth term, lM7c-

P.D.

8,

127

Part III.

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

....

Membership

Shares

Issued during year

Forfeited during year
Retired during year

.

.

.

Members
Members who

3,762
1,952
_32
511

Withdrawn during year

...

634

Unmatured shares
Matured share certificates

2,047

Holders

228
21,893
7,336
1,336

Matured during year
Shares in force
Shares now pledged
M.atured shares represented by certifieates
New series issued in April, October.

2,235

— are borrowers

of:

1S8

Profits Distributed

Unmatured Shares and Matured Share

3%; second

First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

series less

term,

Certificates

3%.

than 7 years old; after 7 years,

Rates and Averages on Loans
average rate, 6.89%): 6 Vio%, $220,875;
16 share loans (average, $197 each; average rate, 7%): 7%, $3,150.
3 loans on matured share certificates: 7%, $700.

627

real estate loans (average, S2,2ol each;

7%,

,190,450.

Total Expenses for Year
Salaries

Amount paid

$5,223.26
3.53

for
Cost per $1,000 of assets
.

Rent
$624.00

$21.70

Other
Expenses
$2,269.70

.18,138.66

.01

1.53

5.49

Advertising

.42

Total

NEWTON — AUBURNDALE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Atlantic National Bank, 88
Boston)
Incorporated February

8, 1910.

Began business February

15,

Summer

Street,

1910

Charles E. Valentine, Treasurer

William K. Corey, President
Charles

S.

Cowdrey, Assistant Treasurer

Board of Directors: F. H. Allison, W. R. Amesbury, C. D. Ansley, G. A. Bacon, E. T. Cady, W. K. Corey,
William Coulson, C. S. Cowdrey, C. B. Floyd, J. H. Gordon*, W. F. Hadlock*, H. A. Hansen, G. F.
Howland*. C. P. Hutchinson, J. A. Leonard, H. H. Longfellow, W. H. Nash*, W. B. Smith, W. J. Spaulding, C. E. Valentine, H. A. Wentworth, G. M. Winslow*.
Regular meetings for receipt of moneys the

first

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Permanent expense account

00
00
00
00
682 32
51,999 56

,223,629
15,140
1,700
2,000

.....

Temporary expense account
Cash

Dues capital
Profits capital
.

Matured share
Paid-up

certificates
sh.ire certificates

Guaranty fund
Surplus
Interest

Fines

....

Due on uncompleted
Security committee
Overs and shorts

$1,295,150 88

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

Issued during ye.ar

Withdrawn during year
Matured during year

.

.

.

.

4,994
2,302
811
15,197
6,756
2,557

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
265
New series issued in March, June, September, December.

loans

6,

1926

P.D.

128

8,

Part III.

Rates and Averag^es on Loans

^^^

real estate loans (average, $5,056 each;

average rate, 6.27%):

5K%,

$37,600;

6M%,

6%, $268,404;

$917,625.

6H%,

S3 share loans (average, $459 each; average, rate 6.40%); 6%, $2,870;
4 loans on matured share certificates: 6}^%, $1,700.

$12,270.

Total Expenses for Year

Amotint paid for
Cost per $1,000 of
.

assets

Salaries

Rent

12,195.00
1.70

8430.00

Other
Expenses
$897.01

Advertising

$211.00
.16

.69

Total
$3,733.01
2 88
.

NEWTON — NEWTON CO-OPERATIVE BANK
299

WALNUT STREET, NEWTONVILLE

(Other authorized locations for receipt of moneys: 73 Tremont Street, Boston, and Saco Lowell
Shop, Newton Upper Falls)
Incorporated June

Began

14, 1888.

business September 4, 1888

James W. French, President

J.

Alden V. Keene,

Board

of Directors:

Gerald*,

J.

C. R. Brown*,
W. French*, S.

W. M. Cahill,
W. French, G.

J.

Cheever

Fuller, Treasurer

Assistatit Treasurer

E. Callanan, T. C. Donovan, H. W. Fitts, C. A. FitzC. Fuller, F. H. Stuart*, G. M. Weed.

S. Fuller, J.

Regular meetings for receipt of moneys the

first

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

5,

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

,102,150 00
30, son

875
400
2,666

278
43,580

00
00
00
80
43
55

Dues capital
Profits capital

$1,350,332
261,170
265,000
209,200
1,626
39,161
12,151
23,919

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Surplus
Interest

Fines

....

$2,180,750 78

$2,180,750 78

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

Forfeited during year
Matured during year

Shares in force
Shares now pledged

Matured shares represented by
Paid-up shares represented by
JSfew series issued in

cember.

certificates
certificates

....
—

Membership

Shares
Issued during year

00
07

00
00

24
20
67
77
349 63
444 95
17,395 25

.

Guaranty fund

Withdrawal profits
Due on uncompleted loans

Withdrawn during year

1926

Liabilities

8,386
5,368
29
673
30,852
11,705

Members
Members who

2,531

are borrowers

734

Unmatured shares
Matured share certificates

2,333

Holders

of:

Paid-up share

1,325
1,046

225
174

.

certificates

Profits Distributed

March, June, September, De-

Unmatured Shares
lVi6%; third term,

First term, l'/i6%; second term,

lVi6%; fourth term, V/is%.
Matured and Paid-up Share
First term,

1M%;

1M%;

second term,

fourth term,

Certificates

1M%;

third term,

1M%.

Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old; 10% on series
from 5 to 8 years old; after 8 years, none. On series 88 or those issued subsequently, none.

Rates and Averages on Loans
654 reaiesio/eZoons (average, $3,165 each; average rate, 6.17%): 5%, $6,400; 5J^%, $116,200; 6%, $841,400;
6 Vio%, $1,014,500; 7%, $123,650.
65 s/iare Joans (average, $466 each; average rate, 6.28%): 6%, $7,455; 6 Vio%, $22,395; 7%, $950.
3 loans on matured share certificates: 6%, $75; 6^/io%, $800.
1 loan on paid-up share certificates: 6Vio%>$400.
* Security Committee.

P.D.

8,

Part III.
Total Expenses for Year
Salaries

Amount

paid for

.

Cost per $1,000 of assets

$8,766.96
4.02

P.D.

130

8,

Part III.

NEWTON — NONANTUM CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 325 Water town Street, Newton)

Began business

Incorporated February 13, 1917.

May

1917

8,

Warren W.

Rupert C. Thompson, President

Oliver, Treasurer

Directors: T. H. Burns, E. O. Childs, J. J. Doherty*, J. E. Downey, R. H. Evans*, W. U. Fogwill,
J. E. Gibson, T. L. Goodwin*, T. D. Gotshall, W. T. Hannigan, H. H. Hawkins*, J. W. House, A. D.
Howlett, M. P. McKinnon, L. P. Mott, Leland Powers, B. M. Rich, G. E. Stuart*, R. C. Thompson,
G. F. Tracy, D. A. White, T. W. White.

Board of

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

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

$266,850
10,698
790
9,538

.....
.

.

.

13, 1926

Liabilities

Dues

00
00
00
86

$216,987 00
38,255 68
26,200 00
.557 15
2,526 88
3,003 48

capital
Profits capital
.

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Dividends on paid-up share
.

....

cates

certifi

346 67
$287,876 86

$287,876 86

....
....
.

.

Withdrawn during year

.

.

Members
Members who

1,191

953

Holders

5,150
Shares in force
1,655
Shares now pledged
131
Paid-up shares represented by certificates
New series issued in February, jMay, August, No.

.

.

.

......
...
—
Membership

Shares
Issued during year

.

of:

are borrowers

Unmatured shares
Paid-up share

.

certificates

...
.

.

.

414
93
411
28

Profits Distributed

vember.

Unmatured Shares
\y&%\ second term, 1%%; third term,
ys%; fourth term, 1 ys%.

First term,
1

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

First term,

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

20% on

series less

than 5 years old; after 5 years»

Rates and Averages on Loans
63 real estate loans (average, $4,236 each; average rate, 6.18%): 6%, $218,450
37 shareloans (average, $396 each; average rate, 6%): 6%, $10,698.
3 loans on paid-up share certificates: 6%, .$790.

;

7%,

$48,400.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$970.00

$285.49

Advertising

Other
Expenses
$306.47
1.07

Total
$1,561.96
5.44

NEWTON — WEST NEWTON CO-OPERATIVE BANK
(Other authorized location for receipt of moneys:
Incorporated June 14, 1892.

Room

715, 387

Began business June

Washington

Street, Boston)

22, 1892

Alfred E. Thayer, Treasurer

Charles E. Hatfield, President

Lowe*, M. F. Lucas*,
J. Burrage, Alice L. Frost, R. S. Harrison, C. E Hatfield*, F. M.
Francis Newhall*, EUery Peabody, J. A. Reed, A. E. Thayer, S. B. Thomas, H. L. Whittlesey*, J. h..
Whittlesey.

Board of Directors: F.

.

Regular meetings for receipt of moneys the fourth Wednesday of each month.
* Security

Committee.

P.D.

8,

131

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

27, 1926

Liabilities

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

$1.5,36.5

1,156,900
24,460
1,220

125
764
21,816

.....

62
00
00
00
00
S7
26

Dues

.S732,024 00

capital
Profits capital
.

143,020 69
178,400 00
121,600 00

Matured share

certificates
share certificates

Paid-up

Forfeited share account

Matured share account
Guaranty fund
Surplus
Interest

Fines

2.5

.

17,644 69
12,699 33
8,770 32

....

314 33
131 03
00
29 00
37 83

Withdrawal profits
Due on uncompleted loans
Security committee
Overs and shorts

4,1.54

.

$1,220,651 75

$1,220,651 75

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

....
—

Membership

Shares

Issued during year

00

1,801 53

.

4,142
2,390

Withdrawn during year
Matured during year

398

16,083
Shares in force
6,574
Shares now pledged
892
Matured shares represented by certificates
608
Paid-up shares represented by certificates
New series issued in March, June, September, December.

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

1,313

365

.

1.190

147
109

.

certificates

Profits Distributed

Unmatured Shares
First term, l'/i6%; second term, l'/i6%; third term,

lVi6%; fourth term, lVi8%.
Matured and Paid-up Share
First term,

1}4%;

1M%;

Proportion of profits retained on voluntary withdrawals, 10% on series
none.

less

Certificates

second term, 1J^%; third term,

fourth term,

1H%.

than 5 years old; after 5

Rates and Averages on Loans
314. real estate loans (average

684 each;

average rate, 5.94%):

$1,056,550.

SO share loans (average, $489 each: average rate, 6%): 6%, $24,460
3 loans on matured share certificates: 6%, $1,220.
1

loan on paid-up share certificates:

6%,

$125.

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

5Vio%, $77,850;

5M%,

$22,500;

6%,

P.D.

8,

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

4,

132

....

Assets

on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Real estate by toreclosure, etc.
Banking house
Temporary expense account

Loans
Loans
Loans
Loans

Cash

.

.

.

Dues

$4,59S,600 00
115,345 00
5,075 00

capital
Profits capital

900 00
200 00
53
00

Paid-up

15

Interest

18,737
39,000
7,589
110,846

$2,-558,915

certificates
share certificates

458,400
425
81,683
61,716
121,881
3,299
3

Forfeited share account

Guaranty fund
Surplus

00

00

431,891 07
1,128,800 00

Matured share

Fines
Transfer fees

1,259
20,000
26,050
1,243
725

profits

payable for money borrowed
Due on uncompleted loans

Bills

Personal accounts
Building account expense
.

GO
24
90
27
15
49
25
24
00
00
00
07

$4,896,292 68

$4.896,292 68

Membership

Shares
Issued during year

Members
Members who

13,058
8,759

Withdrawn during year

.

75

Forfeited during year

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

1926

Liabilities

Withdrawal

New

Part III.

Holders

of:

—

.

Unmatured shares
Matured share certificates

1,128
56,793
27,738
5,644
2,292

5,437
1,659

.

.

are borrowers

Paid-up share

4,376

864

.

371

certificates

Profits Distributed

May, November.

Unmatured Shares
First term,

2%%;

First term,

2%%.

second term,

Matured Share

Certificates

2^|%; second term,

2^%.

Paid-up Share Certificates
First term, 23^%; second term, 2}^%.

25%

Proportion of profits retained on voluntary withdrawals,
none.

on

series less

than 4 years old; after 4 years,

Rates and Averages on Loans
J,32S real estate loans (average, $3,478 each; average rate,
332 share loans (average $358 each; average rate, 6%):
13 loans on matured share certificates: 6%, $5,075.
4? loans on paid-up share certificates:
6%, $900.

6%): 6%, $4,598,600.
6%, $115,345.

Total Expenses for Year

Amount paid

for
of assets
.

Cost per $1,000

Salaries

Rent

$9,679.01
1.98

$1,500.00

Other
Expenses
$3,793.64

.31

.77

Advertising

Total
$14,972.65
3.06

NORWOOD — NORWOOD CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Bird
Walpole, Mass.)
Incorporated September 20, 1889.

Frank A.
Board

&

Son, Inc.,

Began business October

Employment

1,

1889

John W. Schaeffer,

Fales, President

of Directors: F. G. Allen, R. T. Barr, E.
Fisher*, H. W. Gay, J. A. Hartshorn*, H.
ner, W. F. Tilton, R. R. Williamson.

H.
H.

Office, East

Jr.,

Treasurer

Bartlett, D. E. Callahan, Henry Crosby, F. A. Fales*, F. L.
Miller, J. E. Pendergast, J. W. Schaeffer, Jr., G. A. Stuntz-

Regular meetings for receipt of moneysthe
* Security

first

Committee.

Tuesday

of each

month.

P.D.

8,

133

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Banking house
Unpaid fines
Permanent expense account
Temporary expense account
Transfer stamps
Cash
.

.

.

$2,

.

Shares
Issued during year

Withdrawn during year
Matured during year
Shares in force
now pledged
Matured shares represented by certificates
New series issued in April, October

.Shares

5,

1926

P.D.

134
Shares

8,

Part III.

P.D.

8,

Part III.

135
Rates and Averages on Loans

1,257 real estate loanx (average, $2,868 each; average rate, 5.93%): 5 H%, $434,920; 6%, $3,170,830.
ISS share loans (average, $336 each; average rate, 5.99%): 5}4%, $4.50; 6%, $44,300.
4 loans on matured share certificates : 6%, $2,700.
7 loans on paid-up share certificates: 6%, $1,350.

Total Expenses for Year

Amount paid
Cost

for
per $1,000 of assets
.

PITTSFIELD

Salaries

Rent

Advertising

$5,128.00
1.40

$860.47

$476 00

Other
Expenses
$2,728.25

Total
$9,192.72

.23

.13

.74

2.50

— PITTSFIELD

W. Plumb,

CO-OPERATIVE BANK

Began business March

Incorporated February 15, 1889.

Arthur

.

1889

5,

Lorenzo H. Gamwell, Treasurer

President

Board of Directors: G. S. Adams, J. L. Bacon, R. D. Bardwell, John Barker, L. H. Gamwell, R. H. Gamwell*,
A. M. Jones, Mathias McCormick, G. W. Pease*, H. R. Peirson, R. C. Pierce, A. W. Plumb*.
Regular meetings for receipt of moneys the second Tuesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
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

.....

13,

$50,000
2,171,800
52,386
4,845
6,280

Dues capital
Profits capital

00
00
00
00
00

$1,450,573
266,996
418,600
197,400

.

Matured share
Paid-up

Forfeited share account

.

Guaranty fund

.5,446 21
187,912 18

Surplus

Due on uncompleted loans
Dividends on matured share

17

12,500 00

....
....

certifi

10,060 00

4,935 00

$2,478,669 39

$2,478,669 39

....
—

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
series issued in

00

00
00
740 59
61,991 67
54,872 96

certificates
share certificates

cates
Di\fidends on paid-up share certifi
cates

New

1926

Liabilities

Members
Members who

5,404
4,988
31

Holders

of:

are borrowers

702
29,412

Unmatured shares
Matured share certificates

13,541
2,093

Paid-up share

2,598

932

.

2,598

386

.

161

certificates

Profits Distributed

987

May, November.

Unmatured Shares and Matured and Paid-up Share
Certificates

First term,

2}^%; second term, 2V^%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
average rate, 5.84%): 5%, $340,250; 6%, $1,831,550.
ISl share loans (average, $289 each; average rate, 6%) 5%, $100; 6%, $52,286.
7 loans on matured share certificates : 6%, $4,845.
7 loans on paid-up share certificates: 6%, $6,280.

737

real estate loatis (average, $2,947 each;

:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

$7,754.94
3.13
* Security

Advertising

Other
Expenses

$1,535.90

$697.71

$1,188.56

Total
$11,477.11

.62

.28

.60

4.63

Rent

Salaries

Committee.

P.D.

136

8,

Part III.

PITTSFIELD — UNION CO-OPERATIVE BANK
Incorporated January

4,

1911.

Began business January

17, 1911

William C. Moulton, Treasurer

Clifford Francis, President

W.

A. Burns, C. C. Chesnev, C. F. Coogan, G. H. Cooper, T. F. Cosjrriff,
B. Cummings, F. W. Dntton*, J. H. Enright, D. F. Farrell*, W. J.
Harry Holden, E. N. Huntress*, Joseph Insull, J. F. Kahl, W. C.
Moulton, D. T. Noonan, J. J. Pender, D. H. Pike*, T. F. Phinkett, J. B. Ruscitta, H. J. Ryan, J. R.
Saverv', R. F. Stanton, W. C. Stevenson, D. P. Sweenev, J. F. Titus, G. H. Tucker, J. McA. Vance, D. J.
Walsh, W. A. Whittlesey.
J. Bridgman,
Crane, J.
Jr., Z.

Board of Directors: H.

W. M.

Crane,

M.

Foss, Clifford Francis, D. J. Gimlich*,

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

....

20, 1926

Liabilities

$10,000
724,950
29,730
399
12,714

00
00
00

Dues capital
Profits capital

17

Paid-up

65

Forfeited share account

$516,927
65,256
103,800
66,600
253
8,370
8,674

.

Matured share

certificates
share certificates

3S
72
12
3,930 74
93 59
3,887 79

.

Guaranty fund
Surplus
Interest

Fines

....

Due on uncompleted

loans

$777,793 82

$777,793 82

Membership

Shares
Issued during year

5,774
3,729
68

Withdrawn during year
Forfeited during year

00
4S
00
00

280
Matured during year
16,544
Shares in force
5,413
Shares now pledged
519
Matured shares represented by certificates
333
Paid-up shares represented by certificate:
April,
July,
October.
in
January,
series
issued
New

Members
Members who
Holders

1,473
371

— are borrowers

of:

Unmatured shares
Matured share certificates
Paid-up share

1,407
.

certificates

75
50

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term,

1J^%; second term, lli%:

\H%;

1M%-

fourth term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
$2,854 each; average rate, 5.89%): 5%,,,?75,950;
117 share loans (average, 1254 each; average rate, 6%): 6%, $29,730.

2-54 reaZes(o(e/ocris (average,

Total Expenses for Year

Amount

paid for

.

Cost per $1,000 of assets

6%, $649,000.

third term,

P.D.

8,

137

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Common form mortgages
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Personal accounts

.

Overs and shorts

.

Cash

....

$3,621,100
90,800
2,664
11,046
4,504
70

00
00
00
55

34
06

64
119 78
61,360 94

$3,791,666 31

19,

1926

P.D.

138

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

Members
Members who

Forfeited during year

Holders

19,560
7,268
167
3,979
Matured during year
61,523
Shares in force
28,553
Shares now pledged
6,271
Matured shares represented by certificates
1,327
Paid-up shares represented by certificates
August,
NoFebruary,
May,
in
issued
series
New
.

.

.

Part III.

....

Withdrawn during year

Issued during year

8,

Membership

Shares

.

vember.

of:

5,469
1,651

— are borrowers

Unmatured shares
Matured share certificates
Paid-up share

4,824

916
213

certificates

Profits Distributed

Unmatured Shares

1M%;

First term,

second term,

1K%-

iy2%\ fourth term,

Matured Share
First term,

1%%;

IH%;

third term,

Certificates

second term,

1%%.

fourth term,

1M%;

1H%;

third term,

Paid-up Share Certificates
second term, 1H%', third term,

First term, 1}4%',

1M%;

1M%.

fourth term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
5i^%, $235,850;
1,415 real estate loans (average, S3,552 each; average rate, 6.41%):
$4,386,500.
rate,
average
6.50%)
$200;
each;
{average.
$257
6%,
63^%, $91,040.
355 share loans
4 loans on matured share certificates: 6H%. $3,300.
$1,800.
share
certificates:
paid-up
6}-^%,
1 loan on

6%,

$403,100;

6)4%.

:

Total Expenses for Year

Amount paid
Cost

$6,606.00
1.25

for
per $1,000 of assets
.

Other
Expenses

$1,733.10

$957.44

$4,971.05

Total
$14,267.59

.33

.18

.94

2.70

Rent

Salaries

Advertising

QUINCY — SHIPBUILDERS CO-OPERATIVE BANK
Room

(Other authorized location for receipt of moneys: Central Building,
Quincy)
Incorporated January 16, 1920.

H. Fred
Board

Began

Street,

Herbert A. Brecht, Treasurer

of Directors: J. F. Bruton*, J.

McCormick,

Hancock

business February 13, 1920

Lalley, President

F Foy* L D.

3,

Greene, R.

Campagna, Olaf Carlburg, D. Crowley, T.

M. Harmon, D. M. Holman, W. R.
Moorhead, W. H. Rideout*, H.

N. Millar, J. T.

Hurley, G.
I.

Sullivan,

J.

Donlin, L. D. Duncan, Jr.*,
Husband, H. F. Lalley, W. T.
J. Walsh, C. R. Young.

J.

W.

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

STATEMENT OF CONDITION AT THE CLOSE OF
Assets
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Cash

.....
.

.

.

OCTOBER

BUSINESS,

Liabilities

$269,150
12,770
500
8,920

00
00
00
54

Dues capital
Profits capital
.

Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Security committee
Dividends on paid-up share
.

cates

Reserve for advertising
$291,340 54

.

8,

1926

P.D.

8,

Part III.
Shares

P.D.

140

8,

Part III.

......
—
Membership

Shares
15,085
8,413

Issued during year

Withdrawn during year

73

Forfeited during year

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates

3,473
Matured during year
51,9in
Shares in force
22,880
Shares now pledged
5,155
Matured shares represented by certifipates
517
Paid-up shares represented by certificates
New series issued in January, April, July, October.

4,085
1,173

....
.

Paid-up share

.

.

3,577
701

...

.

certificates

.

.

82

Profits Distributed

Unmatured Shares

1J^%; second term, 1}^%;
1>2%; fourth term, 13^%.

First term,

Matured Share
First term,

1H%;

1%%;

Certificates

second term,

fourth term,

third term,

1%%;

third term,

154%.

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

First term, 1}4%',

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

fourth term,

25% on

series less

1M%-

than 5 years old; after 5 years,

Rates and Averages on Loans
average rate, 6.42%): 5}^%, $181,750; 5M%, $4,000;
$218,800; 6M%, $13,800; 6K^%. $3,503,950; 6%%, $1,500; 7%, $200; 9%, $700.
rate,
average
6.50%): 5M%, *10; 6J-^%, $82,o6o; 7%, $oOO.
each;
$291
(average,
255 s^iareZoans
13 loans on matured share certificates: 6}4%, $3,340.
$1,000.
certificates:
share
paid-up
6M%,
1 loan on

9S6

real estate loans (average, $3,980 each;

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

$263.19

Other
Expenses
$3,119.23

Total
$16,615.93

.06

.75

3.99

Salaries

Rent

Advertising

$11,895.92
2.86

$1,337.59

RANDOLPH — RANDOLPH CO-OPERATIVE BANK
Incorporated January 29, 1889.

Franklin

W. Hayden,

Began business February

7,

1889

Herman W.

President

French, Treasurer

Board of Directors: James Fardy*, T. A. Fardy, H. W. French, D. J. Hand, F W. Hayden*, AH. Holbrook.
H. F. Howard, J. T. Leahy, M. E. Leahy, F. D. McCarty, R. E. O'Brien*, A. C. TVilde.
Regular meetings for receipt of moneys the

first

Thursday

of

each month.

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

7,

1926

Liabilities

Assets
$1,084,150 00
8,790 00
1,990 00

700 00
500 00
1,459 10

20,412 86

Dues capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Interest

Fines
Transfer fees

Withdrawal profits
Due on uncompleted loans

00
17

00
00
47
00
5,540 43
16,060 62
541 80
1 50
111 97
11,305 00

$1,118,001 96

$1,118,001 96

* Security

$454,399
80,385
480,800
58,800
56
10,000

Committee.

P.D.

8,

Part

III.

141

.....
Membership

Shares
Issued during year
Forfeited during year

2,906
1,013
16

Matured during year

844

Withdrawn during year
Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in February, August.

Members
Members who
Holders

— are borrowers

of:

Unmatured shares
Matured share certificates

10,421
5,856
2,404

Paid-up share

294

1,145

.

475

.

875
334
47

certificates

Profits Distributed

Unmatured Shares
First term,

3%; second

First term,

2^%;

2%%.

term,

Matured Share

Certificates

second term,

2^%-

Paid-up Share Certificates
First term, 2},i%; second term, 2f^%.
Proportion of profits retained on voluntary withdrawals,
none.

25% on

series less

than 5 years old; after 5 years,

Rates and Averages on Loans
average rate, 6%): 6%, $1,084,150.
$140 each; average rate, 6%); 6%, $8,790.
share
on
matured
certificates:
6%, $1,990.
4 loans
3 loans on paid-up share certificates: 6%, $700.

416
63

real estate loans (average, $2,606 each;
s/iare Zoans (average,

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$3,704.78
3.31

$.392 99

$51,10

.35

.05

.

Other
Expenses
$1,548.16
1.38

Total
$5,697.03
5.09

READING — READING CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: New England Trust Company, Boston; Office
of C. S. Harriman & Co., No. Wilmington; Office of F. R. Batchelder, North Reading;
McLaughlin & Dennison, Wilmington)
Incorporated November 27, 1886.

Began

bvisiness

December

6,

1886

H. Raymond Johnson, Treasurer

Frank E. Crafts, President

Board of Directors: O. L. Akerley, F. R. Batchelder, P. M. Burgess, John Connelly, A. W. Coolidge, F. E.
Crafts, H. B. Currell*, J. L. Devaney, A. P. French, C. S. Harriman, E. N. Hunt*, Henry R. Johnson*.
H. Raymond Johnson, G. A. Parker, C. M. Spencer.
Regular meetings for receipt of moneys the Tuesday following the

first

Monday

of each

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

Cash

.

.

5,

192G

Liabilities

on real estate
on shares
on matured share certificates
on paid-up share certificates
Insurance and taxes paid

Loans
Loans
Loans
Loans

month.

.

.....

$2,193,050
63,760
2,300
2,890

00
00
00
00

880 81
70,136 62

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

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

Guaranty fund
Surplus

Due on uncompleted loans
Personal accounts
Suspense
Dividends on matured share
.

cates

Dividends on paid-up share
cates

00
91

00
00
34
65

81
50
284 00
24 24

certifi-

6,264 98

certifi

5,750 00

$2,333,017 43

$2,333,017 43

* Security

$1,428,589
325,368
272,400
230,000
29
38,557
6,338
19,410

Committee.

P.D.

142

Forfeited during year
Matured during year

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

Members
Members who

6,912
3,724
111
1,161
28,798
14,410
1,362
1,150

Holders

of:

— are borrowers

2,501

830

....
.

Unmatured shares
Matured share certificates
Paid-up share

2,320

239
229

.

certificates

Profits Distributed

May, November.

series issued in

Part III.

......

Shares
Issued during year

Withdrawn during year

New

8,

Membership

Unmatured Shares
First term,

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

Matured and Paid-up Share
First term, 23^2%; second term,

Proportion of profits retained on voluntary withdrawals,
none.

25%

on

series less

Certificates

2H%.

than 5 years old; after 5 years,

Rates and Averages on Loans
$3,220 each; average rate, 6%): 6%, $2,193,050.
167 share loans (average, $406 each; average rate, 6%): 6%, $63,760.
share
certificates:
6%, $2,300.
6 loans on matured
6 loans on paid-up share certificates: 6%, $2,890.
estate loans (average,

681 real

Total Expenses for Year

Rent

Advertising

$5,735.60

$480.00

$520.15

2.46

.21

.22

Salaries

Amount paid for
Cost per $1,000 of assets
.

Other
Expenses
$2,429 64
1.04
.

Total
$9,165.29

3.93

REVERE — REVERE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Revere Trust Company, Revere)
Incorporated October

Nelson

S.

1,

1901.

Began business October

14,

1901
Willis G.

Burbank, President

Bond, Treasurer

of Directors: A. M. Bommer, W. G. Bond*, E. W. Brown, N. S. Burbank*, S. J. Clark, A. F. Cornell*,
J. Cornell, A. H. Curtis, Joseph De Napoli, T. F. Driscoll, C. F. Gallagher, G. A. Gove, W. E. Hancock,
J. M. Liset, F. P. Morse, I. P. Park, W. E. Parker, E. O. Parkhurst, F. E. Rowe, J. B.
Shurtleff, B. C. Taylor, Roscoe Walsworth.

Board

H

D. C. Landry,

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Banking house
Unpaid interest
Unpaid fines
Permanent expense account
Cash
.

.

.

....

.....

13,

1926

P.D.

8,

Part III.

143

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

......
Membership

Shares

Issued during year

Withdrawn during year

2,590
1,254

36
291
Matured during year
8,395
Shares in force
3,929
Shares now pledged
712
Matured shares represented by certificates
70
Paid-up shares represented by certificates
New series issued in February, May, August, November.
Forfeited during year

Members
Members who
Holders

of:

— are borrowers

869
285

....
.

Unmatured shares
Matured share certificates
Paid-up share

.

.

785

...

.

certificates

.

136
18

.

Profits Distributed

Unmatured Shares
lVi6%; second term, lVi6%;
lVi6%; fourth term, lVi6%.

First term,

First term,

third term,

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

\%%;

iys%; fourth term, 15^%.
Paid-up Share

Certificates

First term,

1}4%; second term, 134%;

1K%;

1M%.

fourth term,

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.

third term,

15% on

series

Rates and Averages on Loans
$32 real estate loans (average, $2,603 each; average rate, 6.45%): 6%, $52,375; 6J^%, $551,615.
89 share loans (average, $246 each; average rate, 6.49%): 6%, $50; 6i^%, $21,850.
2 loans on matured share certificates: 63^%, $500.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$1,893.50
2.88

$635.23

$491.01

Other
Expenses
$636.08

.96

.75

.97

Total
$3,655.82
5.56

ROCKLAND — ROCKLAND CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Thomas Drew & Company, So. Hanover;
W. S. Curtis, Hanover; John F. Brooks, No. Hanover)
Incorporated February 21, 1911.
Francis J.

Board of Directors: F.

S. Alger, S.

9,

1911
J.

Higgins, Treasurer

W.

B. Estes, F. J. Geogan, C. J.
C. A. Townsend*, H. T. Wright.

J.

Began business March

Charles

Geogan, President

Baker*, L. E. Blanchard, J. D. Carney, E. S. Damon*, J. H. Dunn,
Higgins, Edward Hurley, M. W. Murrill, B. L. Stetson, J. E. Sullivan,

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Permanent expense account
Temporary expense account
Cash

14,

1926

P.D.

144

8,

Part III.

Membership

Shares
1,958
1,075
31
151
12,098
5,041

Issued during year

Withdrawn during year
Forfeited during year

Matured during year
Shares in force
Shares now pledged
ISIatured shares represented by certificates
New series issued in March, September.

Members
Members who
Holders

of:

1,219

— are borrowers

434

....
.

Unmatured shares
Matured share certificates

.

.

.

,

1,154

140

.

.

Profits Distributed

878

Unmatured Shares
First term,

3%; second

term,

3%.

Matured Share Certificates
First term, 2%%; second term, 2^%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.

10% on

series

Rates and Averages on Loans
393 real estate loans (average, $2,256 each; average rate, 6%): 6%, $886,425.
46 share loans (average, $400 each; average rate, 6%): 6%, $18,410.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

61,251.65

$423.78

$121.65

Other
Expenses
$783.52

.43

.12

.80

1.36

Total
$2,580.60
2.71

SALEM — ROGER CONANT CO-OPERATIVE BANK
Incorporated

Vincent

S.

November

9,

1894.

Began business November

13,

1894

Joshua B. Merrill, Treasurer

Peterson, President

,

of Directors: I. K. Annable, R. B. Buckham*, J. N. Clark, G. W. Creesy*, G. B. Farrington, W. S.
Felton, J. H. Gifford, J. B. Merrill, C. F. A. Morse*, V. S. Peterson*, L. D. Pedrick, M. J. Reardon, R. A.

Board

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 BUSINESS, OCTOBER
Assets

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

.

13,

1926

Liabilities

.

$2,087,740 00
46,536 00
2,625 00

600 00

.....

4,629 53
56,924 33

Dues capital
Profits capital

Matured share
Paid-up

....
....

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Bills payable for

.

.

.

.

.

.

.

money borrowed
Due on uncompleted loans

264
34,834
40,052
20,000
15,235

.

.

.

Dividends on matured share

$1,164,586
231,533
480,000
204,000

10

00
00
IS

00
27
00
31

certifi-

6,000 00

cates

Dividends on paid-up share

certifi-

2,550 00

cates

$2,199,054 86

$2,199,054 86

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

00

....
—

Membership

Shares

6,796
Issued during year
3,436
Withdrawn during year
52
Forfeited during year
1,053
year
Matured during
25,444
Shares in force
12,329
Shares now pledged
2,400
Matured shares represented by certificates
1,020
certificates
represented
by
shares
Paid-up
New series issued in February, May, August, No-

vember.

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

2,255

732

.

1,987

376
175

.

certificates

Profits Distributed

Unmatured Shares
1 Vi6%; second term, lVi6%;
lVi6%; fourth term, lVi6%.

First term,

Matured and Paid-up Share
First term,

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

25% on

Committee.

1}4%; second term,

fourth term,
series less

third term,

Certificates

1M%;

third term,

1M%.

than 4 years

old; after 4 years,

P.D.

8,

145

Part III.
Rates and Averages on Loans

595 real estate loans (average, $3,508 each; average rate, 6%): 6%, $2,087,740.
129 share loans (average, $360 each; average rate, 6%): 6%, $46,536.
7 loans on matured share certificates: 6%, $2,625.
2 loans on paid-up share certificates: 6%, $600.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$5,256.25
2.39

$1,656.75
.75

P.D.

146

Part III.

8,

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

1,

1885.

Began business December

15,

1885

Fletcher Clark, Treasurer

Jerome R. Holway, President

Board of Directors: E. S. Clark, Fletcher, Clark*, E. W. Haines, J. R. Holway*, E. S. S. Keith, T. F. 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.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on real estate
Loans on shares
Common form mortgages
Real estate by foreclosure,
Banking house

....
...

$1,139,600 00
15,100 00
etc.

Permament expense account
Insurance and taxes paid

Cash

.

.

.

.

19,

1926

Liabilities

Assets

.

Dues capital
Profits capital

.

Matured share

610 00
6,672 83
22,784 20

Paid-up

1,810 15
129 43
69,788 05

Surplus

certificates
share certificates

...

Forfeited share account

Guaranty fund

.

.

Due on uncompleted

.

.

.

.

loans

Personal accounts
Dividends on matured share
.

cates

.

.

.

cates

.

.

.

certifi.

Dividends on paid-up share

,

certifi.

,

$1,256,494 66

....
—

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
New series issued in May, November.

6,033
1,932

63
368
20,119
6,434

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

692
206

.

certificates

Profits Distributed

Unmatured Shares
second term, 3}4%-

First term,

3H%;

First term,

2J^%; second term,

Matured Share

Certificates

2%%.

Paid-up Share Certificates
First term, 2J^%; second term, 23^%.

$818,151

P.D.

8,

Part III.

147

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

May

Began business

10,

1911

Horace C. Ramsdell, Treasurer

P. Parsons, President

W

Board of Directors: J. B. Allen*, J. G. Bryer, H. W. Dyer, A. D. Hitchings, G. I. Hull, G. L. Little,
L C
Niles, K. L. Norris, H. A. Parker*, T. P. Parsons, H. A. B. Peckham, J. A. Raddin, H. C. Ramsdell'
C. H. Stocker*, John Walkey*, D. B. Willis*.
Regular meetings for receipt

of

moneys the second Wednesday

month.

of each

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Bonds and notes
Loans on real estate
Loans on shares
Loans on matured share certificates
Unpaid interest
Permanent expense account
Overs and shorts
Cash

13,

.....
....

Assets

1926

Liabilities

Dues capital
Profits capital

.S4,000 00
572,350 00
10,535 CO
1,300 00
1,381 75
639 17
13 30
28,531 20

Matured share
Paid-up

certificates
share certificates

.

....

Forfeited share account

Guaranty fund
Surplus
Bills payable for

.

.

.

.

money borrowed

Due on uncompleted

loans

.

Dividends on matured share

.

.

$346,461
60,540
141,000
38,200
50
4,569
'

58

20,000 00

.

1,870 00

.

certifi-

3,114 97

Dividends on paid-up share
cates

.

certifi-

.

.

.

955 00

.

$618,750 42

$618,750 42

....
—

Membership

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

31

00
00
00

1,989 56

cates

New

00

Members
Members who

2,279
1,327
3

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

487
8,078
3,147
705
191

of:

Paid-up share

First term,

2^4%; second term, 2§4%.

First term,

23^%; second term, 2J^%.

Paid-up Share

Proportion of profits retained on voluntary withdrawals,
none.

25%

on

649
120
36

certificates

Profits Distributed
Unmatured Shares and Matured Share

May, November.

775
245

series less

Certificates

Certificates

than 2 years old; after 2 years,

Rates and Averages on Loans
$2,345 each; average rate, 6%): 6%, $572,350.
SI share loans {average, $339 each; average rate, 6%) 6%, $10,535.
2 loans on matured share certificates: 6%, $1,300.

244

'I'eal

estate loans (average,

:

Total Expenses for Year

Amount paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$1,000.00
1.62

$456.00

$100.25

.74

.16

Other
Expenses
$1,185.89
1.91

Total
$2,742.14

4.43

SHARON — SHARON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Citizens National
Street and 148 State Street, Boston)
Incorporated January 19, 1912.

John

J.

Bank

of Boston, 179

Summer

business February 12, 1912

Rafter, President

Archie L. Kingsbury, Treasurer

Board of Directors: W. B. Brigham, F. V. Brittain*, W. E. Clark, W. G. Darrow, G. A. Dennett, J. P. Eaton,
J. R. Gillespie*, George Hall*, C. N. Merrill, H. F. Nelson, R. L. Pollard, T. F. Quinn, J. J. Rafter, G. A.
Stetson, Rudolf Stolar, J. S. Stressenger, A. H. Urann, A. E. Wright.
Regular meetings for receipt of moneys the third
* Security

Committee.

Monday

of each

month.

P.D.

148

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets
.

1926

Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Permanent expense account
Temporary expense account
.

Part III.

8,
18,

.

Prepaid interest

Cash

$605,375
15,590
2,905
135
750
194
30,186

00
00
00
00
60
99

Dues capital
Profits capital

19

Surplus

$310,571
38,773
221,400
35,000
168
5,998
7,240
8,479
188

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Interest

Fines
Transfer fees

Withdrawal

333
4,000
22,905
77

profits

payable for money borrowed
Due on uncompleted loans
Bills

Security committee

$655,136 78

00
34

00
00
26
94
14

60
32
75
93
00
00
50

$655,136 78

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

Membership

Shares

Members
Members who

3,756
Issued during year
1,883
Withdrawn during year
399
Matured during year
10,033
Shares in force
3,674
Shares now pledged
1,107
Matured shares represented by certificates
175
Paid-up shares represented by certificates
New series issued in February, May, August, No-

Holders

of:

— are borrowers

....

Unmatured shares
Matured share certificates
Paid-up share

.

.

.

...
.

.

certificates

.

881
224

777
195
29

Profits Distributed

vember.

Unmatured Shares
First term,

1%%;

second term,

1J^%; fourth term,

Matured Share
First term,

1%%;

third term,

Certificates

second term,

iys%; fourth term,

\%%;

1M%.

1

l%%;

third term,

^^8%.

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

First term,

1M%;
25%

Proportion of profits retained on voluntary withdrawals,
none.

on

series less

than 5 years old; after 5 years,

Rates and Averages on Loans
179 real estate loans (average, $3,381 each; average rate, 6.21%): 6%, $165,350; 6 Vio%, $440,025.
43 share loans {aversige, 299 e^ch; average rate, 6.28%) 6%, $900; 6 Vio%, $14,690.
6 loans onmatured share certificates: 6 Vio%, $2,905.
:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

$1,632.50
2.49

$413.53

$60.68

Other
Expenses
$705.22

.09

l.OS

Advertising

Total
$2,811.93
4.29

SHIRLEY — SHIRLEY CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Residence of Walter G. Phelps, Littleton;
Office of HoUingsworth & Vose, West Groton; Room 8, Savings Bank Building, Ayer)
Incorporated December 27, 1907.

Began business January

1,

1908

Frederick H. Fowler, Treasurer

D. Chester Parsons, President

Board of Directors: A. L. Annis, G. W. Balch, G. F. Buxton, Michael Cotter, J. W. Desmond, John Esielionis,
F. "H. Fowler*, R. G. Hillman, E. N. Livermore*, H. H. Lynch, T. F. Mullen, D. C. Parsons, W. G. Phelps,
J.

T. Smith,

J.

M.

Stevenson*.

Regular meetings for receipt

of

moneys the second Wednesday

* Security

Committee.

of

each month.

P.D.

8,

Part III.

149

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets
.

1926

Liabilities

Loans on real estate
Loans on shares
Loans on paid-up share certificates
Temporary expense account
Other assets
Cash
.

13,

.

....

$172,880 00
4,735 00
1,250 00
308 14

90 24
3,863 14

Dues

capital
Profits capital

$106,903 00

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus
Interest

Fines

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans

Bills

Security committee

$183,126 52

....
—

Membership

Shares
Issued during year

Withdrawn during year
Matured during year

731
428

21
2,794
Shares in force
1,091
Shares now pledged
1.39
Matured shares represented by certificates
81
Paid-up shares represented by certificates
New series issued in January, April, July, October.

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

.

certificates

Profits Distributed

Unmatured Share.

'i

First term,

1M%;

lii%; second term,

fourth term,

l%%;

Matured and Paid-up Share

l}4%; second term,
fourth term, 1}4%.

First term,

1M%;

third term,

1^%.
Certificates

1M%;

third term,

P.D.

150

8,

Part III.

Membership

Shares
4,431
1,344
10
12,001
4,615

Issued during year

Withdrawn during year
Forfeited during year

Shares in force
Shares now pledged
232
Paid-up shares represented by certificates
New series issued in February, May, August, No-

vember.

Members
Members who
Holders

of:

1,116

260

— are borrowers

Unmatured

shares
Paid-up share certificates

1,083

43

Profits Distributed

Unmatured Shares
lVi6%; second term, lVi6%;
lVi6%; fourth term, 1 Vi6%.

First term,

Paid-up Share

third term,

Certificates

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

First term,

1M%;

third term,

Proportion of profits retained on voluntary withdrawals, 20% on series less than 6 years old; 15% on aeries
from 6 to 7 years old; 10% on series from 7 to 8 years old; 5% on series from 8 to 9 years old; after
9 years, none.

Rates and Averages on Loans
162

real estate loans (average, $4,234 each;

$374 300
98 share loans (average,

.$496 each;

average rate, 6.26%):

oH%,

$17,350;

6M%,

average rate, 6.36%); 6%, $12,750;

6%,

$294,450;

6}^%,

$35,930.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets

Salaries

Rent

$3,099 22

$721 23

.

.

.

Advertising

$360.00

3.94

Other
Expenses

Total

$1,531.59
1.94

85,712.04

7.24

SOMERVILLE — SOMERVILLE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Atlantic National Bank, 41 Bedford Street,
Boston)
Incorporated
J.

May

4,

1880.

Began business June

7,

1880
Daniel

Frank Wellington, President

S.

Farnum, Treasurer

Etta F. Smith, Assistant Treasurer

W. Blake, E. P. Carr, O. W. Codding, L. M. Conwell, D. S. Farnum^
I. Horton, Thomas Miller, L. A. Penney*, J. S. Pike, S. T. Richards, C. A. Slager*, F. W. K. Smith,
B. Walker*, J. M. Webster, J. F. Wellington, H. E. Wemyss, B. T. Williston.

Board of Directors: E. A. Binney*, A.
C.
I.

Regular meetings for receipt of moneys the

first

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

4,

1926

P.D.

151

Part III,

8,

Rates and Averages on Loans
7^4 real estate loans (average, $2,522 each; average rate, 5.91%); 5%, $147,300; 5J^%, $9,900; 6%,
rate, 5.97%): 5%, $1,480; 6%, $62,280.

,668,950.

S49 share loans (average, $256 each; average

Total Expenses for Year

55,738.50

$1,179.56

$340.00

Other
Expenses
$1,521.82

8,779.88

2.91

.60

.17

.77

4.45

Rent

Salaries

Amount paid for
Cost per $1,000 of assets
.

Advertising

SOMERVILLE — WEST SOMERVILLE CO-OPERATIVE BANK

Total

i

(Other authorized locations for receipt of moneys: 1136 Broadway, Teele Square, Somerville;
157 Boston Avenue, Ball Square, Somerville; 310 Broadway, Somerville)

Began business December

Incorporated November 29, 1890.

11,

1890

Winsor L. Snow, Treasurer

Fred F. Stockwell, President

Annie M. Duran, Assistant Treasurer

Board of Directors Z. E. Cliff, W. H. Dolben, F. S. Emery, H. C. Fallis*. F. A. P. Fiske, F. H. Foster, J. W. F.
Hobbs, C. R. Horton, W. A. Jackson, J. W. Jones, H. P. Knight, C. H. Liverpool, E. D. Lacount, W. C.
Mentzer, F. E. Moore, W. H. Peak, G. R. Reed, W. N. Robbins*, E. A. Shaw, R. M. Smith, W. L. Snow*,
F. F. Stockwell, J. F. Terry, G. E. Wardrobe.
:

Regular meetings for receipt of moneys the third

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Banking house
Temporary expense account
Insurance and taxes paid
.

.

Cash

1926

18,

Liabilities

$2,763,700
84,430
5,870
2,310
25,203
2,195

.

.....

Dues capital
Profits capital

00
00
00
00
73

00
44
00
00
486 35

$1,751,289
352,539
459,800
286,600

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share account

11

.

13,176
28,681
14,694
25,137

.

Guaranty fund

99 10
58,800 07

Surplus
Interest

Fines
Transfer fees

425
4
1.000
7,180

Withdrawal profits
Due on unconapleted loans
Security committee
Building income account

90
1,502

$2,942,608 01

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

.

.

.

Forfeited during year

.

.

.

.

Matured during year
Shares in force
Shares now pledged

.

.

Matured shares represented by
Paid-up shares represented by

New

series issued in

.

.

certificates
certificates

90
46
38
33
50
82
00
00
82

$2,942,608 01

Membership

Shares

Issued during year

Withdrawn during year

01

.

Members
Members who

10,815
5,819
28
1,826
38,171
16,706
2,299
1,433

.

Holders

of:

—

.

.

are borrowers

.

.

.

....
.

.

.

Unmatured shares
Matured share certificates

.

.

.

Paid-up share

.

.

.

certificates

3,081

776
2,975

362
269

Profits Distributed

March, June, September, De-

Unmatured Shares
lVi6%; second term, lVi6%; third term,
fourth
term, lVi6%.
lVi6%;

cember.

First term,

Matured and Paid-up Share
First term,

1H%;

lj4%; second term,

fourth term,

1M%.

Certificates

1M%;

third term,

Proportion of profits retained on voluntary withdrawals, one-sixth.

Rates and Averages on Loans
625

real estate loans (average, $4,4:21 each; average rate,

6.06%): 5%, $1,500; 5}i%, $141,900; 6%, $2,080,950;

6yi%, $539,350.
343 share loa?is (average, $246 each; average rate, 6%)
17 loans on matured share certificates: 6%, $5,870.
7 loans on paid-up share certificates: 6%, $2,310.

:

6%,

$84,430.

Total Expenses for Year
Salaries

Amount

paid for

Cost per $1,000

.

of assets

P.D.

152

8,

Part III.

SOMERVILLE — WINTER HILL CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 1164 Broadway, West Somerville; Hisfhland
Trust Company, Union Square, Somerville)
/

Incorporated

George

S.

May

8,

1906.

Began business June

13,

1906

Ray R.

Lovejoy, President

Rideout, Treasurer

Harriett A. Osborne, Assistant Treasurer
J. B. Adams, J. M. Andrews*, G. G. Brayley*, J. A. Breen, J. L. Carter, L. B. Chandler*,
A. L. Durgin, B. F. Freeman, H. E. Frost, H. B. Gerrish, C. C. Grimmons, Thomas Gullion, J. A. Kiley,
R. M. Lavendar, W. F. Lewis, G. S. Lovejoy, A. W. Morrill, C. N. Page, N. P. Reed, S. M. Rich, R. R.
Rideout*, A. E. Sargent, C. L. Shea*, T. J. Shea.

Board of Directors:

Regular meetings for receipt of moneys the second Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Permanent expense account
Temporary expense account
Insurance and taxes paid
Personal accounts
Discount

Cash

....
.

13,

1926

P.D.

8,

Part III.

153

SOUTHBRIDGE — SOUTHBRIDGE
Incorporated

March

S,

CO-OPERATIVE BANK

Began business

1910.

April 7, 1910

Edward D.

Felix Gatineau, President

Desrosier, Treasurer

Ernest A. Desrosier, Assistant Treasurer
Bail*, J. L. Berthiaume, F. A. Bouvier, A. L. Desaulnier*, E. D. Desrosier*, Antoine
Duplessis, J. C. Gabree*, F. A. Gatineau, Ronaldo Guilmette, J. V. Laughnane, David Lenti, Joseph
Metras, H. B. Montague, Elzebert Ouellette, A. J. Peloquin, H. J. Tetreault.

Board of Directors: H. U.

Regular meetings for receipt of moneys the

first

Thursday

of each

month.

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

1926

7,

....

Assets

Liabilities

Dues capital
Profits capital

$762,225 00
38,040 00
1,160 00
900 00
88 61
21,261 70

00
65
00
00
15 00

$450,686
84,503
166,000
78,400

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund

9, .542

Surplus

3,371 05
4.102 68

Interest

Fines
Transfer fees

52

73 65
75

Withdrawal

profits
Bills payable for monej'

Due on uncompleted

59
20,000
6,900
21

borrowed

loans

Security committee

$823,G75 31

01

00
00
00

$823,675 31

......
Membership

Shares
Issued during year

3, .342

Withdrawn

1,658

dvu'ing year

Forfeited during year

11

Matured during year

338

Shares in force
Shares now pledged
Matured shares represented by certificates
Paid-up shares represented by certificates
New series issued in April, October.

Members
Members who

333

Unmatured shares
Matured share certificates

979
173
78

Holders

11,774
5,207

1,071

are borrowers

....

of:

Paid-up share

830
392

.

certificates

Profits Distributed

Unmatured Shares
First 'term,

3%; second

term,

3%.

Matured and Paid-u-p Share
First term,

Certificates

2}4%; second term, 2}|%.

Proportion of profits retained on voluntary withdrawals, 25% on series less than 4 years old;
from 4 to 6 years old; after 6 years, none.

20%

on

series

Rates and Averages on Loans
2SS
S5

real estate loans (average, $3,271 each;

average rate, 6%): 6%. $762,225.
s/jare Zoare.5 (average, $400 each; average rate. 6%)
6%, $38,040.
4 loans on matured share certificates: 6%, $1,160.
1 loan on paid-up share certificates: 6%, $900.
:

Total Expenses for Year

Rent

Salaries

.4mount paid for
Cost per $1,000 of assets
.

SPRINGFIELD

$1,393.28
1.69

— HAMPDEN

Incorporated July 21, 1919.

Henry W. Lloyd,

Other
Expenses
$675.87

Advertising

$323.64
.39

.82

Total
$2,392.79

2.90

CO-OPERATIVE BANK

Began business September

President

3,

1919

Harry R. King, Treasurer

Board of Directors: Frank Auchter, H. A. Bellows*, E. E. Bohner, B. L. Bragg, Jr., R. S. Clark, A. E. Emerson,
L. P. Fletcher, T. R. Geisel, J. R. Hunt, H. R. King*, H. W. Llovd*, G. E. Maver, T. K. McAllister,
E. L. McCracken, T. E. Morris, E. S. Munson, W. K. Tuohey, W. J. Wilson.
Regular meetings for receipt of moneys the
* Securitj-

first

Wednesday

Committee.

of

each month.

154

P.D.

8,

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

6,

1926

Assets

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

1

P.D.

8,

Part III.

155
Shares

156

P.D.

Part III.

8,

STONEHAM — STONEHAM CO-OPERATIVE BANK
Incorporated January 10, 1887.
Charles

J.

Began business February

1,

Emerson, President

1887

Frank

J.

Howell, Treasurer

Board of Directors: Charles Baldwin*, G. R. Barnstead, F. H. Berry, C. F. Buck, Andrew Christensen, E. L.
Clark, C. J. Emerson*, S. H. Green*, B. J. Hinds, C. W. Houghton, F. J. Howell, O. W. Richardson,
W. O. Richardson, W. H. White, E. L. Young.
Regular meetings for receipt

of

moneys the second Tuesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
I^oans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
LTnpaid fines

13,

1926

Liabilities

$1,367,200 00

00
00
1,910 00
4,261 07
.565 95
690 81

3.3,3.55

4,7.50

....

.....

Permanent expense account
Cash

54,735 51

Dues capital
Profits capital
.

.

.

.

.

.

.

.

,

$670,5.59

Matured share
Paid-up

certificates
share certificates

...

Forfeited share account

Guaranty fund
Surplus

.

.

.

.

.

Due on uncompleted

,

loans

Security committee

Dividends on matured share
cates
cates

Other

certifi-

....
.

.

.

.

Dividends on paid-up share

.

certifi-

liabilities

$1,467,468 34

Forfeited during year

4,519
2,770
27

Matured during year

447

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

New

series issued in

May, November.

....
—

Membership

Shares
Issued during year

16,843
8,289

Members
Members who

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

of:

Paid-up share

certificates

2,3.58

696

Profits Distributed
Unmatured Shares and Matured Share
First term,

2^8%;

First term,

2}^%: second term, 23^%.

sfecond term,

Paid-up Share

2]4%.

Certificates

Certificates

P.D.

8,

157

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Permanent expense account
Cash

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

00
00
00
03
00
31

Dues

capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus

Due on uncompleted
cates

loans

cates

$1,119.845 34

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

May, November.

2,623
1,450
10

328
12,534
5,922
1,127

544

certifi-

....

Dividends on paid-up share

series issued in

1926

Liabilities

$1,037,755
18,855
1,700
1,583
160
59,792

Dividends on matured share

New

9,

certifi-

$617,298

P.D.

158
Shares

8,

Part III.

P.D.

8,

159

Part III.

TAUNTON — MECHANICS' CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 3 Taylor Building)
Incorporated September 14, 1877.

Began business September

17,

1877

Arthur R. Knox, Treasurer

Herbert O. Woolley, President

Board of Directors: 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.
Regular meetings for receipt of moneys the Wednesday after the

first

Monday

after the fifteenth of each

mionth.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

20,

1926

P.D.

160

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Temporary expense account
Cash

....

Part III.

8,
11,

1926

Liabilities

$98,850
7,800
173
11,172

00
00

Dues

01
15

Forfeited share account

$96,923 00
16,420 59
1,757 09
906 56
743 14
1,202 12
25 64

capital
Profits capital
.

Guaranty fund
Surplus
Interest

Fines

Withdrawal

17 02

profits

$117,995 16

$117,995 16

....
—

Membership

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

Members
Members who

600
Issued during year
557
Withdrawn during year
87
Forfeited during year
2,078
Shares in force
833
Shares now pledged
New series issued in March, June, September, December.

Holders

of:

145

45

are borrowers

Unmatured shares
Profits Distributed

Unmatured Shares
First term,

5/i6%; second term, 15/16%; third term,

1

lVi«%: fourth term, lVi6%Proportion of profits retained on voluntary withdrawals,
none.

25% on

than 2 years old; after 2 years,

series less

Rates and Averag^es on Loans
$3,409 each; average rate, 6%): 6%, $98,850.
16 share loans (RveTage, $i87 each; average rate, 6%) 6%, $7,800.

S9

real estate loans (average,

:

Total Expenses for Year

Rent

Salaries

Amount

$220.00

$400 00
3.35

paid for
Cost per $1,000 of assets
.

Advertising

.

Other
Expenses
$141.44
1.20

Total
$761.44
6.41

TAUNTON — TAUNTON CO-OPERATIVE BANK
Incorporated

March

Began business March

6, 1880.

17,

of Directors: Thomas Baker*,
F. E. Goff, Theron Gorham, H.
A. R. White, L. M. Witherell.

Board

1880
Albert C. Francis, Treasurer

Frederick E. Go£f, President

H. Church, T. W. Dean*, A. C. Francis, J. P. Galligan,
W. Hayman, H. N. Hopkins*, G. W. King, B. C. Pierce,

J. F. Barden, H.
S. Hastings, F.

Regular meetings for receipt of moneys the

first

Tuesday

after the fifteenth of each

month.

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

certificates

....
.....

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

20,

1926

Liabilities

Assets
$2,356,850
44,550
4,450
5,700
537
40,399

00
00
00
02
70
93

Dues capital
Profits capital

Matured share certificates
Guaranty fund
Surplus
Bills payable for

money borrowed
Due on uncompleted loans
Dividends on matured share
cates

$1,326,618
248,690
787,400
29,354
18.943
10,000
8,435

00
65
00
43
57
00
00

certifi

23,046 00

$2,452,487 65

....
—

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
New series issued in May, November.

7, .595

Meml^ers

5,131

INIembers who are borrowers
Holders of:
LTnmatured shares

47
458
31,156
14,083
3,937

Matured share

certificates

.

.

Profits Distributed

Unmatured Shares and Matured Share
First term,

3%; second

term,

3%.

Certificates

P.D.

8,

Part III.

161
Rates and Averages on Loans

,105 each; average rate, 5.94%): 5Vio%, $115,100; 5}4%,
769 real estate loans (average,
$2 123 450
107 share loans' (aveTa.ge, $416 each; average rate, 5.99%): 53^%, $200; 6%, $44,350.
9 loans on matured share certificates: 6%, $4,450.

118,300;

6%,

Total Expenses for Year
Salaries

Amount paid

for

$6,815.52
2.77

.

Cost per $1,000 of assets

Rent
$595.96

Advertising

Other
Expenses

$104.20

$1,097.51

(8,613.19

.04

.45

3.50

Total

TAUNTON — WEIR CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: District Court Building, Court Street, Taunton)
Incorporated July 11, 1884.

Began business July

16,

1884

Kenneth E. Leonard, Treasurer

Arthur C. Staples, President

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. Presbrey, J. A. Quigley, A. C. Staples*, E. A. Tetlow, J. G. Williams.
Regular meetings for receipt

of

moneys the

sixteenth of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans
Loans
Loans
Loans

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

$1,561,700
22,500
5,550
250

Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Security committee
Suspense

Cash

7,8.30

1,801

524
46

....
.....

2
11,914

00
00
00
00
82
88
70
96
00
83

Dues capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Surplus
Interest

Fines
Transfer fees
Bills payable for

money borrowed
Due on uncompleted loans

$1,612,121 19

....
....

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

5,235
3,149
54

659
17,781
8,806
2,839

204

$755,323
134,412
567,800
40,800
25,374
16,374
26,326
307
2
35,000
10,400

00
83
00
00
71

64
23
03
75
00
00

$1,612,121 19

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
P.aid-up shares represented by certificates
New series issued in January, July.
.

16, 1926

Liabilities

162

P.D.

TISBURY — MARTHA'S

Part III.

8,

VINEYARD CO-OPERATIVE BANK

(Other authorized locations for receipt of moneys; Edgartown National Bank, Edgartown, and
office of Eben D. Bodfish, Oak Bluffs)
Incorporated April 22, 1909.

Henry

Began business

May

14,

1909

Roy W. Norton,

L. Peakes, President

Treasurer

Board of Directors: E. D. BodSsh, L. E. Briggs, C. J. Darling, A. O. Fischer, A. B. Hillman, H. N. Hinckley,
S. C. Luce, Jr., W. G. Manter*, O. S. Mayhew, U. E. Mayhew*, Archie Mellen*, R. W. Norton, H. L.
Peakes, L. W. Renear, G. L. Smith.
Regular meetings for receipt of moneys the second Wednesday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

...

Loans on real estate
Loans on shares
Loans on matured share
Cash

.....

certificates

13,

....

Assets

1926

Liabilities

$352,125 00
2,426 00
400 00
17,986 43

Dues capital
Profits capital

$205,608
42,527
76,200
28,400

Matured share
Paid-up

Guaranty fund
Surplus
Security committee
.

.

.

.

Dividends on matured share
cates

.

.

.

,

11,741 IS
14 73

.

2,095 50

certifi

710 00

$372,937 43

1,104

401
366
4,189

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

New

series issued in

May, November.

....
—

Membership

Shares
Issued during year

Withdrawn during year
Matured during year

1,890
381

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

.

.

certificates

142
Profits Distributed
Unmatured Shares and Matured Share
First term,

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

First term,

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

Paid-up Share

58

certifi

....

.

Dividends on paid-up share
cates

00

00
00
5,640 44

certificates
share certificates

Certificates

Certificates

P.D.

8,

Part III.

163

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
1,144,100 00

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

33,400
1,936
251
23
12,907

.

00
OS
70
23
47

Dues capital
Profits capital

00
26
00
55
80
63
10,346 24

$884,779
173,650
72,800
180
26,855
24,006

.

Matured share

certificates

Forfeited share account

.

Guaranty fund
Surplus

Due on uncompleted

loans

$1,192,618 48

$1,192,618 48

3,050
1,801
7
591
16,121
6,683

Withdrawn during year
Forfeited during year

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

....
—

Membership

Shares
Issued during year

New

1926

2,

Liabilities

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates

1,573

542

.

1,531

80

.

Profits Distributed

364

May, November.

Unmatured Shares and Matured Share
First term,

Proportion of profits retained on voluntary withdrawals,
none.

25% on

Certificates

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

series less

than 5 years old; after 5 years,

Rates and Averages on Loans
473 reaZes^aieZoores (average, $2,419 each; average rate, 5.40%): 5%, $218,700; 53^^%, $925,400.
120 share loans (average, $278 each; average rate, 5.48%): 5%, $1,100; 53^%, $32,300.

Total Expenses for Year

Rent

Advertising

$60.00

$394.00

Salaries

Amount

53,175.00

paid for
Cost per $1,000 of assets
.

2.66

.33

Other
Expenses
$1,615.78
1.36

Total
$5,244 78
.

4.40

WALPOLE — WALPOLE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Multibestos Company, Walpole; Bird and
Son, Inc., East Walpole)
Incorporated June 11, 1912.

Began business June

14,

Harry A. Whiting, President

1912
Otis

J.

A. Dionne, Treasurer

W. Bunker, H. W. Caldwell, T. M. Connell,
J. A. Dionne, W. E. Everett, O. J. Fisher, C. B. Gove*, C. E. Hartshorn, W. H. Maguire*, N. L.
McCully*, P. A. Moore, B. D. Rogers, A. W. Smith, H. E. Towne, H. A. Whiting.

Board of Directors: C. E. Barrett, H. M. Bonnev, R. K. Bullard, C.
O.

Regular meetings for receipt

of

moneys the second Friday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

.

.

.

8,

1926

Liabilities

.

$446,350 00
6,790 00
256 88
1,120 43

Duos capital
Profits capital
.

Matured share
Paid-up

certificates
share certificates

Guaranty fund
Interest
profits

payable for money borrowed

$454,517 31

* Security Committee.

01

00
00
33

77 66

Fines
Bills

00

3,394 76
4,656 40

Surplus

Withdrawal

$227,848
40,450
130,600
32,600
4,793

97 15
10,000 00
$454,517 31

P.D.

164
Issued during year

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

Part III.

8,

....

Membership

Shares

1,346

758
299

Withdrawn during year
Matured during year

Members
Members who
Holders

of:

— are borrowers

Unmatured shares
Matured share certificates

5,736
Shares in force
2,492
Shares now pledged
653
Matured shares represented by certificates
163
Paid-up shares represented by certificates
New series issued in March, June, September, December.

Paid-up share

515
183

.

463
69
25

.

certificates

Profits Distributed
Unmatured Shares and Matured Share
First term,
1

1%%]

Certificates

second term, 1?^%; third term,

ys%; fourth term,

1

%%.

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

First term,

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

25%

on

than 5 years old; after 5 years,

series less

Rates and Averages on Loans
153 real estate loans (average, S2,917 each; average rate, 6%): 6%, $446,350.
30 share loans (average, $226 each; average rate, 6%): 6%, $6,790.

Total Expenses for Year

Amount

paid for

Cost per $1,000

Salaries

Rent

$490 00
1.08

$199.69

.

.

of assets

Other
Expenses
$287.79

Advertising
IS 50
.

.02

.44

.63

Total

$985.98
2.17

WALTHAM — WALTHAM CO-OPERATIVE BANK
Incorporated October 13, 1880.

Edward

Began business October

20, 1880

Earl F. Caswell, Treasurer

P. Smith, President

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

Thursday

last

of each

month.

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

on real estate
on shares
on matured share certificates
on paid-up share certificates
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Permanent expense account
Insurance and taxes paid
Cash
.

....

28,

1926

Liabilities

Assets
$6,388,175
102,260
15,050
6,865
2,329
11,771
50
17,217
1,269
26,900

00
00
00
00
75
68
00
25
42

Dues capital
Profits capital

10

Dividends on matured share

.

.

.

.

.

.

.

,

$3,102,147

,

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Bills payable for
.

.

.

.

.

.

,

.

money borrowed

Due on uncompleted
cates

.

.

loans
certifi-

....

.

.

.

Dividends on paid-up share

.

_

,

certifi-

cates
Fire insurance

$6,571,888 20

....
—

Membership

Shares
Issued during year
26,478
Withdrawn during year
17,456
Matured during year
2,003
Shares in force
73,852
Shares now pledged
33,801
Matured shares represented by certificates
9,130
Paid-up shares represented by certificates
3,232
New series issued in January, April, July, October.

Members
Members who
Holders

of:

are borrowers

Unmatured shares
Matured share certificates
Paid-up share

.

.

certificates

Profits Distributed

Unmatured Shares
First term, 1

Vi6%

;

second term,

1

Vi6%

lVi6%; fourth term, 1>^%.
Matured and Paid-up Share
First term,

1M%;

1M%;

second term,

fourth term,

1M%.

Certificates

1M%;

third term,

P.D.

8,

Part III.

165
Rates and Averages on Loans

2,H6

real estate loans (average, $2,977 each; average rate,
5:27 .sAare tonras (average, $194 each; average rate, 6%)
:

6%): 5%, S2,200; 6%, $6,385,975

6%,

$102,260.

38 loans on matured share certificates: 6%, $15,050.
20 loans on paid-up share certificates: 6%, $6,865.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$17,993.25
2.74

$2,656.93

$2,207.05

.40

.33

Other
Expenses
511,549.30
1.76

Total
$34,406.53
5.23

WALTHAM — WATCH CITY CO-OPERATIVE BANK
Incorporated March 25, 1914.

Anthony

J.

Began business April

Doherty, President

6,

1914

Leonard

J.

Rooney, Treasurer

Board of Directors: C. H. Clark, M. P.

E

Collins*, Clarence Cormier, T. E. Deehan, A. J. Doherty,
F Flannery*; T. J. Flannery, P. L. Flynn, Philip Hanagan. ,T. J. Harold, F. J. Kelly, E. O. Maxwell, J. A McCarthy, J. P. Morrissey*, C. L. Reade, L. J. Rooney, W. E. Sawyer*, Lillian Shanley, B. W. Stanley,

T. A. Tracey*.

Regular meetings for receipt of moneys the

last

Thursday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....

Assets

Liabilities

Dues capital
Profits capital

Matured share
Paid-up share

certificates
certificates

Forfeited share account
Matured share account

.

.

Guaranty fund
Surplus
Interest

Fines

....
.....

Withdrawal
Bills

profits

payable for money borrowed

Security committee

....

Dividends on matured share
cates

certifi

28,

1926

P.D.

166

8,

Part III.

WARE — WARE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Office of T. D. Potter

Lumber Company,

Bondsville)
Incorporated
J.

H.

Jolliffe,

March

23, 1920.

Began

1920

bu-siness April 10,

Flynn R. Person, Treasurer

President

Board of Directors: Cyrille Ballard, E. J. Brannigan*, B. W. Buckley*, L. B. Campbell, L. H. Cummings*,
W. N. Howard, J. H. Jolliffe, A. F. McBrinn, L. H. Moore, W. N. Newcomb, F. R. Person, J. H. Schoonmaker*, H.W. Sibley*, B. W. Southworth, L. E. St. Onge, D. L. Washburn, J. G. West, C. B. Wetherby,
C. E. Williams, A. H. Wilson.
Regular meetings for receipt of moneys the second Friday of each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

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

Cash

.

8,

.

.....

$433,270 00
17,573 00
1,000 00
120 52
7,911 70

Dues

capital
Profits capital

S345,162
46,730
45,000
644
.

.

Paid-up share

certificates

Forfeited share account

Guaranty fund

3,737
8,382
2,164
32
32
7,000

Surplus
Interest

Fines

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans
Bills

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

....
—

Membership

Members
Members who
Holders

of:

are borrowers

Proportion of profits retained on voluntary withdrawals,
none.

second term,

fourth term,

20% on

series less

Rates and Averages on Loans

Total Expenses for Year

Rent

1M%.

1M%;

Certificates

third term,

than 4 years old; after 4

144 real estate loans (average, $3,008 each; average rate, 6%): 6%, $433,270.
66 share loans (average, $313 each; average rate, 6%): 6%, $17,573.
1 loan on paid-up share certificates: 6%, $1,000.

Cost per $1,000 of assets

792
53

certificates

Profits Distributed
Unmatured Shares and Paid-up Share

1M%;

Salaries

817
200

.

Unmatured shares
Paid-up share

First term, 1}4%',

.

67
00
87
57
89
56
41
80
00

$459,875 22

Shares

1,125
Issued during year
882
Withdrawn during year
10
Forfeited during year
7,699
Shares in force
2,882
Shares now pledged
225
Paid-up shares represented by certificates
New series issued in January, April, July, October.

paid for

00

987 45

$459,875 22

Amount

1926

Liabilities

P.D.

8,

Part III.

167

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

13, 1926

P.D.

168

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

Part III.

....
—

Membership

Shares

58,187
29,637
11,595
125,273
Shares in force
57,136
Shares now pledged
12,003
Matured shares represented by certificates
5,287
Paid-up shares represented by certificates
New series issued in March, June, September, December.
Issued during year

8,

Withdrawn during year
Matured during year

Members
Members who

are borrowers

.

9,068
2,610

Unmatured shares
Matured share certificates

.

8,127
1,901

Holders

of:

Paid-up share

948

certificates

Profits Distributed

Unmatured Shares
First term, l'/i6%; second term, 1^/16%; third term,

V/u%;

fourth term, lVi6%.

Matured and Paid-up Share

1M%;

First term,

Certificates

1M%;

second term,

third term,

13^%; fourth term, 1}^%.
Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
2,197 real estate loans (average, S4,645 each; average rate, 6%): 6%, 810,206,450.
629 share loans (average, S237 each; average rate, 6%): 6%, $149,200.
43 loa?is on matured share certificates: 6%, $15,790.
22 loans on paid-up share certificates: 6%, $5,740.

Total Expenses for Year
Salaries

Amount

paid for
Cost per $1,000 of assets
.

Rent

Advertising

)26,047.41

6,343.79

2.44

.59

$4,754 62
.44
.

Other
Expenses
$8,797.23
.82

Total
$45,943.05
4.29

WEBSTER — WEBSTER CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: W. C. Lewis, Southbridge)
Incorporated August

2,

1889.

Began business August

8,

1889

James P. Bergin, Treasurer

George F. Hart, President

Board

P. Bergin*, James Brennan, F. E. Cassidy, H. J. Clarke, J. W. Dobbie, G. F. Hart*,
King, August Kisro, W. C. Klebart, C. W. Kosmaler, J. P. Love*, Henry Merrett, James McGeary,

of Directors:

J.

W. H.
H.B.' Montague, C. M. Nash, A. N. Racicot, H. H. Sternberg, Alexander Wylie.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans on real estate
Loans on shares
Banking house
Temporary expense account
Overs and shorts
Cash

....

14, 1926

Liabilities

Assets
$1,109,055
23,525
6,200
1,133

00
00
00

Dues capital
Profits capital

91

Paid-up share

40

Forfeited share account

16,356 18

.

Matured share

certificates
certificates
.

Guaranty fund
Surplus
Interest

Premiums
Fines

Withdrawal

profits

payable for money borrowed
Due on uncompleted loans
Bills

$1,156,270 49

Membership

Shares
Issued during year
Withdrawn during year
Matured dvuing year
Shares in force
Shares now pledged
Alatured shares represented by certificates
Paid-up shares represented by certificates
New series issued in February, August.

2,674
1,392

406
15,170
6,344

585
529

Members
Members who are borrowers
Holders

of:

—

Unmatured shares
Matured share certificates
Paid-up share

certificates

Profits Distributed

Unmatured Shares
First term,

3%; second

term,

3%.

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

Certificates

2J^%.

P.D.

8,

Part III.

169
Rates and Averages on Loans

estate Zoans (average, $3,159 each; average rate, 6.3%)
6Vio%, $1,109,055.
share loans (average, $280 each; average rate, 6.3%): 6^/10%, $23,525.

S51 reaZ
84.

:

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Other
Expenses

Salaries

Rent

$3,000.00
2.59

$431.26

$118.00

$1,138.64

Total
4,687.90

.37

.10

.99

4.05

Advertising

WELLESLEY — V/ELLESLEY CO-OPERATIVE BANK
Incorporated January 24, 1911.

Began business January

25, 1911

George N. Smith, President

Orrin E. Stevens, Treasurer

Board of Directors: H. P. Bell*, F. T. Donlon, P. J. Fitzpatriok, 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.

Regular meetings

for receipt of

moneys the second Wednesday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

13, 192G

Liabilities

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

$2,972,975 GO

41,685 00
8,685 00
1,150 GO
2,660 71

.....

151 91
64,224 91

Dues capital
Profits capital

$1,578,667
302,543
858,600
196,800
3,237
28,173
13,331
38,106

.

Matured share

certificates
share certificates

Paid-up
Surplus
Interest

Fines
loans

$3,091,532 53

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

$3,091,532 53

Membership

Shares

Issued during year
13,228
Withdrawn during year
7,174
Forfeited during year
20
Matured during year
1,621
Shares in force
39,461
Shares now pledged
^.
16,339
Matured shares represented by certificates
4,293
Paid-up shares represented by certificates
984
New series issued in February, May, August, No.

.

.

vember.

Members
Members who
Holders

of:

— are borrowers

....
.

.

.

.

.

.

612

Paid-up share

.

.

.

161

certificates

Unmatured Shares
First term,

1J^%; second term, l}i%;

1M%;

1M%-

fourth term,

Matured Share Certificates
1^%; second term, lYsvo;
fourth term, 1^%.
Paid-up Share

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
641 real estate loans (average, $4,638 each; average rate, 6.50%): 6J^%, $2,972,975.
1S2 share loans (average, $342 each; average rate, 6. .50%); 6M%, $41,685.
11 loans on matured share certificates: 6J4%, $8,685.
4 loans on paid-up share certificates: 6K%, $1,150.<

Total Expenses for Year
Salaries

third term,

third term,

Certificates

1J4%; second term,
1J€%; fourth term, 134%.

First term,

.

2,370

profits Distributed

1^%;

paid for
Cost per $1,000 of assets

2,868
731

Unmatured shares
Matured share certificates

First term,

Amount

19

28
48
32
04
1,101 36
70,972 86

Forfeited share account

Guaranty fund

Due on uncompleted

00

00
00

1M%;

third term,

P.D.

170

8,

Part III.

WESTFIELD — WESTFIELD CO-OPERATIVE BANK
Incorporated December 13, 1881.

George E. Shepard,

Began business December

19,

1881

James H. Clark, Treasurer

President

Jr.,

Board of Directors: R. T. Carrier, J. H. Clark*, C. H. Cooley, Jr., T. J. Coolev, H. S. Eaton, R. M. Fletcher,
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

each month.

of

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Banking house
Unpaid interest
Permanent expense account
Temporary expense account
Insurance and taxes paid
Personal accounts

.

Overs and shorts

....

Certificate of deposit

Cash

1926

18,

Liabilities

$2,061,050
56,525
9,535
2,855
63,266
11,541
10,083
4.744
i;816
126
66
30,000
16,114

Dues

00
00
00
00
07
25

00
83
00
00
928 90
42,647 69

capital
Profits capital

$1,139,563
193,417
584,400
201,600

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account

Guaranty fund

27

Surplus

85
46
00
80
00

Interest

36,034 71
55,147 41
1,262 85
392 89
10,325 00
2,003 55

Fines

Withdrawal profits
Due on uncompleted loans
Building income account

13

$2,267,723 83

$2,267.723 83

......
—
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
New series issued in June, December.

6,868
3,854

84
1,342
25,588
12,478
2,922
1,008

Members
Members who
Holders

of:

are borrowers

....

Unmatured shares
Matured share certificates
Paid-up share

2,110

906

.

1,977

.

466
167

certificates

Profits Distributed

Unmatured Shares
First term,

2%%;

second term, 2J-s%-

Matured and Paid-up Share
First term,

Certificates

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

Proportion of profits retained on voluntary withdrawals,

25%

of last dividend.

Rates and Averages on Loans
755 real estate loans (average, $2,730 each; average rate, 6%): 6%, $2,061,050.
153 share loans (average, $369 each: average rate, 6%): 6%, $56,525.
SI loans on matured share certificates: 6%, $9, .535.
19 loans on paid-up share certificates: 6%, $2,855.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

$7,323.56
3.23

$2,539.87
1.12

$324.10
.14

Other
Expenses
$2,763.70
1.22

Total
$12,951.23
5.71

WEST SPRINGFIELD — WEST SPRINGFIELD CO-OPERATIVE BANK
Incorporated April

8,

1897.

Began business

May

12,

Wilson B. Chandler, Treasurer

Willis J. Eldred, President

L. Brown, C. M. Bryan, J.
W. J. Eldred, J. F. McCarthy*, J. W. Mead,
E. L. Stoughton, R. D. Toomey.

Board

of Directors:

M.

1897

M. Carroll, W. B. Chandler,
W. H. Pierce, A. F. Royce*,

Regular meetings for receipt of moneys the second Wednesday
* Security Committee.

of

C. D. Clark*, H. W. Egan,
F. P. Sargent, F. O. Scott,

each month.

P.D.

8,

Part III.

171

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Cash

192S

Liabilities

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

13,

00
00
00
00
23
875 73

,939,205
34,608
2,650
1,020
5,865

....

43,006 16

...
...

Dues capital
Profits capital

.

.

Matured share
Paid-up

.

.

,

$988,013 00

certificates
share certificates

Forfeited share account

Guaranty fund
Surplus
Bills payable for

.

.

.

,

.

.

money borrowed
Due on uncompleted loans
Dividends on matured share
cates

certifi-

....

.

.

.

Dividends on paid-up share
cates

.

,

certifi-

$2,027,230 12

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

Forfeited during year

Matured during year
Shares in force
Shares now pledged

.

.

Matured shares represented by
Paid-up shares represented by

New

series issued in

vember.

.

.

certificates
certificates

....
—

Membership

Shares
Issued during year

Withdrawn during year

6,937
4,495
165
824
25,578
11,906
2,724

Members
Members who

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

of:

Paid-up share

Profits Distributed

972

February, May, August, No-

certificates

Unmatured Shares
lVi6%; second term, lVi6%;
lVi6%; fourth term, 16/i6%.

First term,

Matured and Paid-up Share
First term, \\4,%;

1M%;

second term,

fourth term,

1M%.

third term,

Certificates

1M%;

third term,

P.D.

172
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

New

series issued in

May, November.

8,

Part III.

P.D.

8,

Part III.

173

....

Membership

Shares

Issued during year

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

Forfeited during year

3,269
2,092
3

Matured during year

467

.

.

.

.

Withdrawn during year

13,146
Shares in force
6,283
Shares now pledged
1,514
Matured shares represented by certificates
337
Paid-up shares represented by certificates
New series issued in February, May, August, No-

vember.

Members
Members who are borrowers
Holders

of:

1,262

—

472

Unmatured shares
Matured share certificates
Paid-up share

1,138

239
49

certificates

Profits Distributed

U nmalured

Shares

First term, 1

Vi6%; second term,
lVi6%; fourth term, 13^%.

1

Vi6%; third term,

Matured Share Certificates
1 Vi6%
second term, 1 Vi6%
lVi6%; fourth term, 15/i6%.

First term,

;

Paid-up Share

;

third term,

Certificates

First term,

1}4%; second term, l}4%;
lJi%; fourth term, 1M%.

third term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
425 real estate loans (average, $2,614 each; average rate, 6%): 6%, $1,110,965.
83 share loans (average, $286 each; average rate, 6%): 6%, $23,771.
4 loans on matured share certificates: 6%, $960.
i loan on paid-up share certificates: 6%, $800.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

$3,304.87
2.87.

$573.21

$24.50

$1,020.07

Total
$4,922.65

.50

.02

.89

4.28

WEYMOUTH — SOUTH WEYMOUTH CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 719 Broad Street, East
Incorporated February 28, 1889.

Began business March

D. Frank Daly, President

9,

Weymouth)

1889

Everett N. Hollis, Treasurer

Board of Directors: A. E. Barnes*, F. T. Barnes, G. L. Barnes, G. W. Conant, D. F. Daly*, H. E. Fitzgibbons,
J. F. Frawley*, W. H. Holbrook, E. N. Hollis, L. K. Jones, E. E. Merchant*, E. J. Pitcher*, J. F. Reardon
H. G. Soule, J. H. Stetson, Gordon Willis.
Regular meetings for receipt

of

moneys the second Saturday

of

each month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

9,

1926

P.D.

174

8,

Part III.

Rates and Averages on Loans

6^%,

6%, $1,281,680;
estate loans {average, $2,871 e&ch; average rate, 6%)
66 share loans (average, $463 each; average rate, 6%): 6%, $30,595.

451 real

:

$14,200.

Total Expenses for Year

Rent

Salaries

Amount

$3,835.00
2.80

paid for
Cost per $1,000 of assets
.

$173.55

Other
Expenses
$932.75

.13

.60

Advertising

$444.42

Total
$5,385.72
3.85

WHITMAN — WHITMAN CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: American Trust Company, 50 State Street,
Boston)
Incorporated

March

1889.

6,

Began business March

Board of

W.

Directors:

A

1889

11,

Harrison D. Soule, Treasurer

George D. Soule, President

F. Alden, William Bliss, B. F. Bowker, W. H. Cook, E. P. Copeland, F. E. Cummings,
I. O. Estes*, W. L. Fairbanks, M. F. Greaney, J. B. Nye, Martin Ratigan,

F. Curtis, G. A. Dorr*,
G. D. Soule*, H. D. Soule.

Regular meetings for receipt of moneys the second

Monday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

11, 1926

Liabilities

Assets

Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Permanent expense account
Temporary expense account
Insurance and taxes paid
Other assets
Cash

....
.....
.

$5,566,150
71,528
6,110
1,250
10,908
25,832
5,759
1,190
695
97,427

00
00
00
00
02
09
55

Dues capital
Profits capital

61

Surplus

$3,226,303
717,301
1,556,000
58,200
2
26,076
63,979
29,173
85,326
4,286
3,329

.

Matured share
Paid-up

certificates
share certificates

Forfeited share account
Matured share account

.

.

Guaranty fund

44

Interest

41

Premiums
Fines
Transfer fees

Due on uncompleted
Personal accounts

loans

16,859 61
10 54

.

$5,786.851 12

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

$5,786,851 12

......
—
Membership

Shares

28,806
Issued during year
11,118
Withdrawn during year
year
during
Forfeited
. ^29
5,868
Matured during year
74,563
force
Shares in
29,988
Shares now pledged
7,780
Matured shares represented by certificates
291
Paid-up shares represented by certificates
August,
NoMay,
February,
in
issued
series
New
•

00
66
00
00
99
00
88
37
87
97
98
25

•

vember.

Members
Members who

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

of:

....

Paid-up share

.

.

...

certificates

.

.

6,779
2,042
5,633
1,391

41

Profits Distributed

Unmatured Shares

1>^%; second term, \}i%;
11^%; fourth term, 1>^%.

First term,

Matured Share
First term,

1M%;

1%%;

First term,

1M%;

Certificates

second term,

fourth term,

third term,

1^%.

1%%;

third term,

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

1M%;

fourth term,

1M%.

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
^,0S9 real estate loans (average, $2,743 each; average rate, 6.3%): 6Vio%, $5,566,150.
S51 share loans {average, $285 each; average rate, 6.3%): 6Vio%, $71,528.
14 loans on matured share certificates: 6^/10%, $6,110.

Total Expenses for Year
Other

Amount

paid for

Cost per $1,000

.

of assets

.

Salaries

Rent

Advertising

$12,412.37
2.15

$1,128.30

$1,188.81

Expenses
$5,557.63

20,287.11

.19

.21

.96

3.51

'

Security Committee.

Total

P.D.

Part III.

8,

175

WINCHENDON — WINCHENDON CO-OPERATIVE BANK
Incorporated September

9,

1891.

Began business September

Board of

1891

Austin R. Paull,

Greenwood, President

Silas A.

16,

Jr.,

Treasurer

Perley Aldrich, R. P. Bartlett, H. O. Bateman, Robert Callahan*, L. W. Davis, H. H.
R. B. Greenwood*, J. G. Henry, W. E. Holden, J. B. Humphrey, Alexander Orr, W. H. Pritchard,

Directors:

Elliott,

Honore Richer, A. M. Royse, T. C. Sparhawk*, A.

S.

Washburn.

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

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Permanent expense account
Temporary expense account
Cash
.

.

.

.

20,

$448, .595
4,555
1,019
147
381
16,221

,

00
00

Dues capital
Profits capital

17

Matured share

69
09
01

Paid-up

$261,788
42,033
91,600
46,200
7,663

.

certificates
share certificates

Guaranty fund
Surplus
Interest

Fines

....

39

$470,918 96

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

....
—

Membership

Shares

Members

1,554
Issued during year
Withdrawn during year
1,220
195
Matured during year
6,033
Shares in force
2,553
Shares now pledged
4.58
Matured shares represented by certificates
231
Paid-up shares represented by certificates
New series issued in March, June, September, December.
.

21

00
00

115 09
10,000 00
2,404 00

$470,918 96

.

00

4,481 02
4,634 25

payable for money borrowed
Due on uncompleted loans
Bills

.

1926

Liabilities

681
246

Members' who are borrowers
Holders

.

of:

Unmatured shares
Matured share certificates

622
73
43

.

Paid-up share certificates

Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates

First term,

1J^%; second term, \]4,%\

1M%;

1M%.

fourth term,

third term,

Proportion of profits retained on voluntary withdrawals, none.

Rates and Averages on Loans
,.2i.4

sk

reaZes«o<e/ooras (average, $2,096 each; average rate, 5.94%)
5%, $8,900;
share loans (average, $142 each: average rate, 6%): 6%, $4,555.
:

5>i%, $33,730; 6%, $405,965.

Total Expenses for Year

Amount

paid for

.

'Cost per $1,000 of assets

Other
Expenses

Salaries

Rent

$1,500.00
3.19

$145.60

$48.00

.$873.20

.31

.10

1.85

Advertising

Total
$2,566.80
5.45

WINCHESTER — WINCHESTER CO-OPERATIVE BANK
Incorporated

Howard D. Nash,

November

13, 1893.

Began business November

13,

1893

Ernest R. Eustis, Treasurer

President

Directors: W. T. Carleton, John Challis, E. R. Eustis, Vincent Farnsworth, G. A. Fernald, J. J.
Fitzgerald*, C. A. Gleason*, A. H. Hildreth, James Hinds, Raymond Merrill, C. C. Miller, H. D. Nash*,

Board of
S.

E.

Newman,

S. S.

Symmes*.

Regular meetings for receipt of moneys the
* Security

first

Committee.

Monday

of each

month.

P.D.

176

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER

....
...

Assets

Cash

,147,400 00

46,705
4,345
4,800
7,318

00
00
00
50
870 82
34,145 68

.....
.

Dues capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Forfeited share account

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

Guaranty fund
Surplus

Due on uncompleted

loans

Security committee

Dividend on matured share
cates

Dividend on paid-up share
cates

certifi-

certifi

$2,245,585 00

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

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

New

series issued in

May, November.

....
—

Membership

Shares

Issued during year

4,

Part III.
192G

Liabilities

Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Personal accounts

8,

5,811
3,257

50
1,059
25,395
12,230
2,091
1,071

Members
Members who

are borrowers

.

Unmatured shares
Matured share certificates

.

Holders

of:

Paid-up share

certificates

$1,248,674 00

P.D.

8,

Part III.

177

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

Membership

Shares

Issued during year

Withdrawn during year
Forfeited during year

9,067
5,188
24
1,095
37,356
16,673
3,735

Matured during year
Shares in force
Shares now pledged
Matured shares represented by certificates
718
Paid-up shares represented by certificates
New series issued in March, June, September, December.

P.D.

178
Issued during year
11,638
Withdrawn during year
5,300
84
Forfeited during year
Matured during year
1,462
Shares in force
53,376
Shares now pledged
24,521
Matured shares represented by certificates
4,243
2,245
Paid-up shares represented by certificates
New series issued in January, April, July, October.

of:

— are borrowers

Unmatured shares
Matured share certificates
Paid-up share

5,159
1,862

.

4,899

673
368

.

certificates

Profits Distributed

Unmatured Shares

1M%;

second term, 13^%; third term,

13^%; fourth term,

1M%-

Matured and Paid-up Share
First term,

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

20%

on

1J^%; second term,

fourth term,
series less

1^%-

Rates and Averages on Loans

Total Expenses
for Year
*

paid for

.

of assets

Certificates

1M%;

third term,

than 5 years old; after 5 years,

1,667 real estate loans (average, $2,722 each; average rate, 6.3%): 6Vio%, $4,538,575.
184 share loans (average, $342 each; average rate, 6.3%): 63/io%, $63,000.
9 loans on matured share certificates: 6^/10%, $5,620.
S loa7is on paid-up share certificates: 6Vii)%i $750.

Cost per $1,000

Part III.

....

Members
Members who
Holders

First term,

Amount

8,

Membership

Shares

P.D.

8,

Part III.

179
Rates and Averages on Loans

849

5.98%): 5%, S4,000; 5}^%, $4,200; 5^^%, $4,500;
5}^%, $105,750; 5Ji%, $1,800; 6%, $2,606,100; 6^%, $1,000; 6}^%, $1,200; 7%, $1,000.

real estate loans iaver&ge, $3,215 each; average rate,

SOS share loans (average, $278 each; average rate, 6%): 5}^%, $300; 6%, $84,100.
8 loans on matured share certificates: 6%, $2,300.

Total Expenses for Year

Amount

paid for
Cost per $1,000 of assets
.

Salaries

Rent

Advertising

Other
Expenses

$5,433 53
1.89

$2,173.63

$559.06

$1,855.68

.76

.19

.65

.

Total
$10,021.90
3.49

WORCESTER — HOME CO-OPERATIVE BANK
Incorporated June 10, 1882.

Jeremiah

J.

Began business June

16,

1882

George O. Bridges, Treasurer

Higgins, President

Board of Directors: A. J. Bean, G. O. Bridges*, G. W. Brooks, Earle Brown, Albert Erickson, Wilhelm Forsberg,
H. A. Hawkins, J. J. Higgins*, Urge! Jacques*, James Montgomery, H. A. Mower, J. H. Turner, C. C.
Winn, W. A. Winn, E. M. Woodward.
Regular meetings for receipt

of

moneys the

third

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

19, 1926

P.D.

180

WORCESTER — INDEPENDENT
Incorporated

May

8, 1911.

8,

Partlll.

CO-OPERATIVE BANK

Began business

May

31, 1911

Andrew W.

Wallace T. Morley, President

Sigourney, Treasurer

Board of Directors: W. H. Balcom, C. S. Bavis, H. J. Clarkson, M. E. Costello, M. W. Donahue, H. J. Greene,
J. L. Harrop*. W. T. Morley, A. A. Parker, J. J. Power*, A. F. Richardson, H. C. Robinson, H. A.
Rousseau, D. A. Scott, A. W. Sigourney*.
Regular meetings for receipt of moneys the

last

Tuesday

of each

month.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

...

Loans on real estate
Loans on shares
Loans on matured share
Cash

....
....

......
certificates

8652,100 00
18,845 00
1,575 00
15,038 82

Dues

$389,687
76,169
144,000
48,600
5,198
6,602
10,000
4,550

capital
Profits capital

Matured share
Paid-up

certificates
share certificates

Guaranty fund

Surplus
Bills payable for

money borrowed

Due on uncompleted

loans

Dividends on matured share
cates

.

.

cates

$687,558 82

Shares
Issued during year
3,581
Withdrawn during year
1,128
Matured during year
732
Shares in force
10,440
Shares now pledged
3,966
Matured shares represented by certificates
720
Paid-up shares represented by certificates
243
New series issued in February, May, August, No-

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

.

.

.

.

.

.

.

99

00
00
73
83

certifi-

....

.

Dividends on paid-up share

00

00
00
240 00

Security committee

vember.

26, 1926

Liabilities

.

_

1,890 27

certifi

620 00

P.D.

8,

181

Part III.

STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets

26, 1926

182

P.D.

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
New series issued in March, September.

402
218
5

56
2,714

962
97

Holders

of:

— are borrowers

....

Unmatured shares
Matured share certificates
Paid-up share

.

.

certificates

Profits Distributed

17

Unmatured Shares

3%; second

term,

3%.

Matured and Paid-up Share
First term,

23^%; second term,

Proportion of profits retained on voluntary withdrawals, 25%.

Rates and Averages on Loans
79 real estate loans (average, $2,149 each; average rate, 6%): 6%, $169,836.
8 share loans (average, $573 each; average rate, 6%): 6%, $4,590.

Total

paid for

.

Cost per $1,000 of assets

Part III.

......

Members
Members who

First term,

Amount

8,

Membership

Shares

Certificates

2 J^%.

267
87

255
23
4

P.D.

8,

183

Part III.
Rates and Averages on Loans

65 real estate loans (average, $2,386 each; average rate, 7%): 7%, $155,100.
15 share loans (average, $186 each; average rate, 7%): 7%, $2,785.

Total Expenses for Year
Salaries

Amount

paid for

.

Cost per $1,000 of assets

$690.00
3.92

P.D.

184

Part III.

8,

Miscellaneous

Number 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
Largest loan to any one person
Number of borrowers (on share loans 135), 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
Number of shares matured during the year
New series are issued January and July of each year.
Required monthly dues upon each share

1,082

....
.

200
646
94
1,466

$96,000

905

5%,

5H%. 6%

5H%
5H%

$8,565.40
795
434
167

.
.

.

$2.00

.

NORTON — NORTON SAVINGS AND LOAN ASSOCIATION
Established 1890.

Austin

M.

Began business

1890.

George B. Clements, Treasurer and

Sweet, President.

Secretary.

Freemanf, C. H. Makepeace* t, G. H. O'Brien*,
Sweet, A. G. Walker, W. C. S. Wood.

Directors: J. G. Adair, G. B. Clements, B. F. Fales, J. A.

G. F. Sawyer, A. T. Sturdy, A.

M.

Regular monthly meeting, fixed by by-laws, for receipt of moneys the third

STATEMENT OF CONDITION, OCTOBER
Assets

Monday

30, 1926

of each

month.

P.D.

8,

Part III.

185

PLAINVILLE — PLAINVILLE SAVINGS AND LOAN ASSOCIATION
Established December, 1879.

Byron

Began business February,

W.

1880.

Walter E. Harden, Treasurer and Secretary.

S. Gardiner, President

W.

E. Harden, Donald Barrows, J. J. Eidenf, T. E. A. Fuller, B. S. Gardinert, Howard Gardnert, N. C. Grant, H. A. Hallt, Rufus Kingt, J. W. Martin, Jr., E. W. Pinkt, C. E. Riley, R. I.
Rhodes, F. W. Sears, Fred Sturdy, H. B. Thompsont.

Directors: F.

Loan

Averill,

or Building Committee:

Appointed from the Directors on each application for a loan.

Regular monthly meeting, fixed by by-laws, for receipt of moneys on or before the tenth of each month.

STATEMENT OF CONDITION, OCTOBER

10, 1926

Assets

....

Liabilities

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
Accrued interest
Furniture and fixtures
Liberty Loan bonds
Deposited in banks
Cash in hands of treasurer
.

$382,389 64
17,982 00
205 96
1,500 00
916 00
87 45
113 91
200 00
8,000 00
22,015 60
556 05

1,271 matured shares at $151.87 each
553 shares, series 43 at $130.09 each
403 shares, series 44 at $99.98 each
469 shares, series 45 at $71.33 each
108 shares, series 46 at $57.54 each
347 shares, series 47 at $44.14 each
309 shares, series 48 at $31.09 each
276 shares, series 49 at $18.40 each
283 shares, series 50 at $6.05 each
Dues paid in advance
Interest paid in advance
Bills

payable

Guaranty fund
Undivided

profits

Forfeited shares

$433,966 61

.

$193,026
71,939
40,291
33,453
6,214
15,316
9,606
5,078

77
77
94
77
32
58
81

40

1,712 15

532 00
1,464 85
30,000 00
11,000 00
14,290 78
38 47
$433,966 61

Miscellaneous

Number

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

....
.

.....

Largest loan to any one person
Number of borrowers
Rate 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
Number of shares matured during the year
New series are issued February and August of each year.
Required monthly dues upon each share
.

.

.

.

t Auditors.

592
50
258
31

757
$7,250
348

6%
5%
53^%
$1,492.96
574
370
148

$2.00

P.D.

186

8,

Part III.

GENERAL INDEX
Page
Co-operative Banks, Abstracts of Annual Report
Co-operative Banks, Alphabetically by Name
Co-operative Banks, General Remarks
Co-operative Banks, Legislation
Co-operative Banks, Tables of Statistics
Credit Unions, General Remarks
Private Bankers, General Remarks
Savings and Loan Associations, Abstracts of Annual Reports
Savings Banks, General Remarks
Trust Companies, General Remarks
Treasurer and Receiver-General, General Remarks

1

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

184
ii

V

.

_

vi-xxvii

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

183

INDEX TO THE ANNUAL REPORTS
[Alphabetically by

Name]

CO-OPERATIVE BANKS
Name

Location

Acushnet Co-operative Bank

.

Bank
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
Ausonia Co-operative Bank
Avon Co-operative Bank
Back Bay Co-operative Bank
Baldwin\'ille 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
Chester Co-operative Bank
Chicopee Co-operative Bank
Chicopee Falls 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
Congress Co-operative Bank
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 Bank
Easthampton Co-operative Bank
East Taunton Co-operative Bank
Economy Co-operative Bank
Edward "Everett Co-operative Bank
Enterprise Co-operative Bank

Adams

Co-operative

Alden\'ille Co-operative

New

Bedford

Adams

Page
125
2
67

.

Chicopee

.

Amesbury

2

Boston

9

.

.

.

.

.

.

.

Arlington
Athol

3
4

Lawrence

100

.

Attleboro

Newton
Boston

Avon

.

Boston
Baldwin\dlle

Boston
Beverly
Lowell

Boston
Braintree

Bridgewater
Boston
Brookline
Boston

Cambridge
Brockton

Canton

Yarmouth
Somerville

Cambridge
Gardner
Boston
Chelsea
Chester
Chicopee
Chicopee
Haverhill

Holyoke
Clinton

Boston
Cambridge
Concord
Boston
Brookline

Danvers
Franklin

Dedham
Boston
Boston
East Bridgewater

.

Easthampton
Taunton
Merrimac

.

Boston
Boston

5

127
10
5
11
6

12
9

105
13
52
53
14
57
15
58
54

63
182
149
59
87
15
64
67
68
69
93
97
70
16
60
72
17
58
73
86
74
18
19
75
76
158
118
20
20

P.D.

8,

187

Part III.

Name

Location

Equitable Co-operative Bank
Equity Co-operative Bank
Eureka Co-operative Bank
Everett Co-operative Bank
Fall River Co-operative Bank
Falmouth 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 Ba
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
Hyannis 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
Metropolitan Co-operative Bank
Middleborough Co-operative Bank
Middlesex Co-operative Bank
Milford Co-operative Bank
Millbury 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
.

.

.

.

.

.

.

.

.

Lynn

.

Worcester
Boston
Everett
Fall River

Falmouth
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
Barnstable
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
Boston
Middleborouggh
Lowell
Milford
Millbury
Milton

Boston
Brockton
Boston
Leominster

Needham

New

Bedford

Newburyport

Newton
Newton
Boston

Newton
Abington

Northampton
Cambridge
Dighton
Boston
Easton

P.D.

188

Name

8,

Part III.

Location

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
Shipbuilders' 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
Telephone Workers' 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
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 Medford Co-operative Bank
West Newton Co-operative Bank
West Roxbury Co-operative Bank
West Somerville Co-operative Bank
West Springfield Co-operative Bank
Whitman Co-operative Bank
Winchendon Co-operative Bank
Winchester Co-operative Bank
Winter HUl 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
.

.

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
Boston
Fall River
Boston
Pittsfield

Chelsea

Boston
Clinton
Wakefield

Walpole

Waltham
Ware
Wareham
Waltham
.

Watertown
Belmont
Webster
Taunton
Wellesley
Westfield

Medford

Newton
Boston
Somerville

West Springfield
Whitman
Winchendon
Winchester
Somerville

Winthrop

Woburn
Quincy
Worcester
Boston

Wrentham

SAVINGS AND LOAN ASSOCIATIONS
Attleborough Savings and Loan Association
Norton Savings and Loan Association
Plainville Savings and Loan Association

Attleboro

Norton
Plainville

183
184
185