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Public
Document
No. 8
3tye (Eammnmimtiitf
nf Utesarijttartta
ANNUAL REPORT
OF THE
Commissioner of Banks
FOR THE
Year ending October
PART
31, 1928.
III
RELATING TO
CO-OPERATIVE BANKS AND SAVINGS AND
LOAN ASSOCIATIONS
Department of Banking and Insurance
Publication of this Document appboved by the Commission on Administbation and Finance
550
ll-'28
Order 3979
3H}? (Eommntmrntitij
nf iMaaBarijuartijs
Office of the Commissioner of Banks,
State House, Boston, January 16, 1929.
To
the
Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General Court assembled:
The annual report
Chapter 167, section
Banks, required by General Laws,
The complete report
covering the work of this department and containing statements of the institutions
under its supervision and other statistical information will be submitted as here-
Commissioner
of the
9, is
of
respectfully submitted herewith.
tofore at a later date.
Consolidated Statement of Resources of All Institutions under Supervision of the
missioner of Banks, October 31, 1928 l
Com-
Percentage of
Increase
Increase for
Assets
Year
1928
......
....
.....
......
.......
..
196 Savings banks
99 Trust companies:
99 Commercial departments
84 Savings departments
57 Trust departments
226 Co-operative banks
3 Savings and loan associations
Mass. Hospital Life Insurance Company
1 Foreign banking corporation, branch office
292 Credit unions
.
.
18 Persons, partnerships or corporations receiving deposits for safekeeping and transmission
835
154 National banks
$2,168,548,458 41
768,502,452
246,784,362
609,073,864
516,138,387
4,159,308
36,745,198
1,610,334
14,486,299
2,864,323 26
3
7.26
26
45
44
07
95
44
50
74
8.28
11.08
21.13
7.97
7.85
1.83
30.57
15.40
58,738,829
24,613,802
106,239,469
38,133,240
302,579
658,986
709,173
1,932,939
657,848 00
2
2
18.
7.58
2
2.61
14.17
7.37
12.34
4.93
2.32
.982
32.25
68 2 22.51
.
$4,368,912,990 29
$376,104,514 62
9.42
7.59
i
$1,560,911,000 00
$20,614,000 00
1.34
5.13
Figures of trust companies and national banks as of October
October business; credit unions as of June 30, 1928.
1
of
08
99
78'
56
06
85
60
70
$146,851,688 77
1927
3,
1928; co-operative banks as of the close
Decrease.
Assets of those receiving deposits for safekeeping are shown herewith in so far as they are within the
provisions of General Laws, Chapter 169.
4
Not under supervision of State Banking Department. Figures included to show total banking assets
of the Commonwealth.
2
3
Savings Banks
Savings bank assets increased during the year ending October 31, 1928, $146,851,689 and now total $2,168,548,458.41. The amount of this increase, as well
as the net increase in deposits, establishes a new high mark, although the net gain
in the number of accounts is the lowest since 1921.
The deposits have nearly
doubled in amount in the last decade and the average savings deposit has also had
a marked increase, rising from $631.53 in 1927 to $674.97 in 1928.
Seventy banks paid regular dividends during the year at the rate of 5%, the
average rate of all banks being 4.71%, a slight increase over the average rate of
the previous year. Five banks paid extra dividends.
Additions to the guaranty fund and profit and loss accounts during the year
amounted to $8,975,000, making the total surplus accounts $158,877,015 or 8%
of the deposit liability.
Due largely to the industrial depression in some of the larger cities there has been
an increase in the amount of real estate held under foreclosure but the total amount
so held is but 2/10 of 1 per cent of the total assets.
The increase of $5,346,000 in the amount of securities acquired in settlement
of indebtedness is primarily due to the re-organization and the subsequent refinancing of the Chicago, Milwaukee & St. Paul Railway Company. The market
value of the new bonds received in this re-organization and carried in this account
now shows an appreciation over the book value.
P.D.
ii
Our banking
statutes prohibit
ciation, excepting savings
8,
Part III.
any corporation, person, partnership or
asso-
banks and trust companies, using any name or other
words indicating that their business
is that of a savings bank or that their place
that of a savings bank. During the past year the contemplated establishment of a national bank with the word "savings" in its title clearly
violated the letter and spirit of these statutes although not contrary to the federal
statutes.
Upon learning of the proposed name the matter was reported to the
Attorney General and the statute affecting the situation was called to the attention
of the Comptroller of the Currency in Washington as well as to the persons interested in the formation of the new bank.
The savings banks, through the Massachusetts Savings Banks Association, were also informed of the new development
and they, to whom such a title means so much and who have jealously guarded
it through the past century, made preparations to contest this infringement of their
rights through the courts.
However, such action was avoided and the justice
of the stand of the savings banks acknowledged, when the use of the word "savings"
in the title of the national bank was abandoned.
of business or office
is
Trust Companies
many
Not
years have our trust companies made such substantial progress
in a twelve months' period as they have shown during the year ending October
Their aggregate assets on that date amounted to $1,624,360,680, being
3, 1928.
for
greater
this
by $189,592,101 than the amount reported last year.
is accounted for by the addition of six to the number
growth
While a part
of
of trust companies,
and the consolidation
of three national banks with two trust companies, there
has also been among the others an unusual increase in assets. To the progress
made, the commercial departments, the savings departments and the trust departments have all contributed. The greatest contribution was made by the trust
departments, the aggregate assets of which have increased from $502,834,395 in
October, 1927, to $609,073,865 in.October, 1928. This unprecedented growth of
trust department business is convincing evidence of the high regard in which the
corporate fiduciary is held by the public.
Coincidental with the increase in the deposits of the trust companies, corresponding additions have been made to their capital and surplus accounts, thereby
maintaining in general a proper ratio of capital to deposits.
The enactment of Chapter 128 of the Acts of 1928, an act authorizing banking
associations and corporations having their principal office in states granting
reciprocal privileges to act as fiduciaries in this Commonwealth, has proved beneficial to our trust companies in their fiduciary activities in connection with property situated outside Massachusetts.
To date only four banks outside this
Commonwealth, which have been called upon to act as fiduciaries over property
situated in Massachusetts, have availed themselves of the reciprocal privileges
of this act.
Co-operative Banks
The increase in the assets of co-operative banks during the past year, although
somewhat less than that shown in each of the preceding five years, has been substantial.
The lessened increase may be partially accounted for by two factors;
the diminished demand for real estate loans, and the disbursement by several
of the resulting accumulation of cash to holders of maturing shares in lieu
In spite of this partial curtailment
of the issuance of matured share certificates.
the increase in matured and paid-up share certificates for the year is more than
banks
eighteen millions of dollars.
Probably the most noticeable development in the business of the co-operative
banks is the increase in the amount of real estate held under foreclosure. The
book value of real estate so held in the aggregate is, however, less than 1% of the
total assets of these banks.
This ratio has been considerably exceeded at various
times in the past. The losses so far incurred have been limited to an amount not
exceeding the legal and other expenses incident to foreclosure.
It is a significant fact that a large part of the loans which have resulted in foreclosure were made within the last three or four years during the time when the
assets of co-operative banks were increasing at a rapid rate, and it is a matter
of record that on many of these loans only the first or very few payments were made.
P.D. 8, Part III.
Another contributing cause
iii
the custom of making loans on real estate in communities located at some distance from the main office of the bank and in localiThis condition of affairs
ties with which the security committee is not familiar.
has apparently been brought about by the desire of many to increase the business
of their banks through the sale of maturing and paid-up shares resulting in an
influx of money which could not be absorbed by the demand for loans from responsible "home owners" and consequently loans have been made to unreliable
parties and in a larger amount than warranted by the value of the property and
other circumstances. These facts should serve as a warning to security committees
and to directors that new loans should be made with due caution, that a fair and
conservative valuation should be placed on property, and in addition that the
ability of the borrower to meet his obligations regularly be determined as definitely
is
as possible.
A marked gain in the guaranty fund and surplus accounts has been shown during
the year, for the first time exceeding 3%, the aggregate of these two accounts now
being 3.11 per cent of the total liabilities. The increase in members for the year
numbers 15,494 as compared with 34,015, the average for the five-year period
The average real estate loan now stands at $3,497, an increase
just preceding.
of $70.
Credit Unions
Since the revision in 1926 of the statutes relating to credit unions there has been
a rapid increase in the number of such organizations, and during the year just
ended thirty-one have completed organization and commenced business.
There are several types of credit unions among which the industrial type is the
most numerous, more permanent and successful.
some industrial plant or occupation
success results from having
which all the members are
employed. The largest unit in this industrial group is that of the telephone employees, having a membership in their several credit unions of upwards of 11,500.
Included among the industrial group are the postal employees' credit unions of
which there are eleven now in operation and others in process of organization in this
Commonwealth. Among the postal employees throughout the United States
187 credit unions are now in operation.
The credit union, particularly that of the community type, in many cases is
short lived, the length of its existence depending on the sustained interest and
cohesive power of the group which promoted its organization. In some of these
cases the accounting and financial details incident to its proper management have
been found to be beyond the ability of those having its affairs in charge and voluntary liquidations have ensued. During the year nine credit unions completed
liquidation and twenty-two are now in process of closing up their affairs.
The most recent compilation of statistics of operation show dividends paid to
shareholders at an average rate of 6.8%. Rates of interest charged on personal
loans average 7.02% while those charged for the first and second mortgage loans
average 6.23% and 7.99% respectively. The net increase in membership for the
as a nucleus
Its'
in
months of this year was 2,535.
Supervision of these organizations is still largely a costly task of educating their
officers in accounting and banking methods, and the expense increases, of course,
as the credit unions grow in number.
first six
Private Bankers
In Massachusetts, as in many other states, the record of the so-called private
bankers, in so far as the receiving of deposits of money is concerned, has been in
general unfortunate and unsuccessful. There are a few outstanding exceptions to
this general rule.
In 1905, in an attempt to correct glaring abuses of trust and to prevent fraud
and failure among these bankers who in many cases lacked not only financial
training but also business experience, a law was enacted regulating the business
of receiving deposits of money for safe keeping.
From time to time since its enactment this law has been amended as weaknesses developed or necessity required,
but such increase in the rigidity of the statutory regulations has failed in actual
practice to remove the hazards incident to such banking when conducted as a
private enterprise.
iv
P.D.
8,
Part III.
Several factors have so adversely affected the business of the so-called private
bankers that a large number have discontinued entirely. It becomes increasingly
evident each year that, after a trial of more than twenty years, this phase of
banking has outlived its usefulness and should be eventually abolished, leaving
the banking business of the community to be transacted by our regularly incorporated banks. A bill seeking to accomplish this object has been prepared
and has been submitted accompanying the following recommendation.
#
Recommendation Relative
to
Deposits with Others than
Banks
The steady decrease in recent years in the number of others than banks licensed
to receive deposits of money for transmission to foreign countries and for safe
keeping, commonly called private bankers, has continued through the past year.
No new licenses have been issued during this period.
On October 31, 1928, there were eighteen persons, partnerships and corporations
licensed to receive deposits of money for transmission, eight of whom were also
licensed to receive deposits for safe keeping.
The peak of this class of banking
during the last decade came in 1920, at which time there were eighty-three licensed
to receive deposits for transmission, of whom fifty-six were also licensed to receive
deposits for safe keeping. The decline in the amount of business transacted
by these bankers is illustrated by the following comparison. On October 31, 1920,
the amount of deposits held for safe keeping was $3,079,657, as compared with
$1,826,722 on the same date in 1928. The amount transmitted by licensees for
the year ending October 31, 1920, was $23,933,943, as compared with $3,032,339
for the year ending October 31, 1928.
During the year ending October 31, 1928, there has been a decrease of eight in
the number of those receiving deposits for safe keeping. One was converted into
a trust company, four surrendered their licenses and discontinued the business,
and three were placed in the hands of receivers. Since that date one has surrendered his license, and it became necessary to revoke the license of another and
apply for the appointment of a receiver, thus further reducing the figures given.
With one exception all of those now licensed to receive deposits of money for safe
keeping have been engaged in this business for several years.
Formerly these bankers derived substantial profits from the fluctuations in
foreign exchange and from the transmission of money to foreign countries, but with
the stabilization of foreign exchange and the restriction of immigration, their
income diminished to such an extent as to cause many of them to discontinue
business.
The assimilation and Americanization of our residents of foreign birth, who
formerly transacted their financial affairs with the banker of their own nationality,
Furthermore,
still further reduces the field from which the business is drawn.
through the establishment of branches and extension of service, our regularly
incorporated banks and trust companies now furnish and have made available to our
residents of foreign birth banking facilities of every nature, and it is evident that
there is no real need for this form of banking.
In 1922 a special committee of the Legislature was appointed to investigate the
subject of private banking and the need of further regulation, and reported their
recommendations for the consideration of the General Court. The results of this
investigation and the changes in the law suggested, covered the subject fully and
While
(See House 1275, 1923.)
completely, and may be found in their report.
the changes enacted during the 1923 session of the Legislature, based on the recommendations of this committee, were progressive, they were, however, a modification
of the recommendations of the Special Committee.
Developments since then, and especially during the past year, have disclosed
additional weaknesses in this law and this, together with the evident lack of need
for this form of banking, seems to justify the recommendation that chapter 169
of the General Laws, which provides for the issuance of licenses permitting the
receipt of deposits for safe keeping by others than banks, be so amended as to
provide for the discontinuance of the issuance of such licenses and the eventual
termination of this form of banking.
P.D.
8,
Part
III.
Christmas Clubs
The following table shows the amount saved and distributed through the medium
Through the coof Christmas Clubs with the number of members thereof.
operation of the national banks, the figures include the amounts distributed by
those institutions, making the compilation more complete. For comparison with
last year the amounts distributed by all banks show an increase of $505,608 in
amount and 19,910 in membership. The figures this year were furnished by banks
located in 132 cities and towns, as compared with 127 one year ago.
Comparative Statement of Christmas Club Deposits
Amount
Members
No. of Banks
Distributed
1928
1928
1927
1928
1927
94
66
87
122
62
187,451
218,573
172,157
184,805
207,617
165,849
$9,858,285
10,880,306
8,616,713
$9,903,846
10,256,964
8,688,886
287
271
578,181
558,271
$29,355,304
$28,849,696
National banks
Savings banks
Trust companies
127
1927
Dividends Paid
Dividends paid to depositors in savings banks, savings departments of trust
companies and to shareholders in co-operative banks during the past year, compared with those paid in the previous year, are as follows:
Average Dividend (Per Cent.)
..........
..........
.......
Savings banks
Savings departments of trust companies
Co-operative banks:
Serial shares
Matured share
Paid-up
*
certificates
share certificates
One bank paid an
.
.
extra dividend of
1928
1927
4.71
4.28
4.70
4.24
5.63
5.29
5.00
5.65
5.31
5.02*
3%.
Triennial Verification of Depositors' Pass Books
triennal verification of depositors' pass books and accounts was made
during the first ten months of 1928 in all savings banks, savings departments of
trust companies, co-operative banks and credit unions.
The total amount of
deposits in all banks verified was $1,480,970,770 or 59.96% of the total deposits.
A comparison of the percentage of accounts and deposits verified in the years 1928
and 1925 is given below:
The
Percentage of
Deposits Verified
1928
....
Savings banks
Savings departments of trust companies
Co-operative banks
Credit Unions (shares and deposits)
*
Not
49.06
69.07
92.52
79.89
Percentage of
Accounts Verified
1925
1928
1925
43.55
68.10
93.88*
81.19
39.70
46.34
91.17
67.07
36.83
47.50
93.25*
70.87
verified in 1925, figures of 1922 used.
Unclaimed Dividends in Liquidation
Pursuant to the provisions of Chapter 240 of the Acts of 1925, all unclaimed
dividends in the hands of the Commissioner of Banks for the creditors of the
following liquidated institution were delivered to the State Treasurer, together
with schedules showing the names of the individuals to whom the money is due:
Dec. 31, 1928, Polish Industrial Association, Inc., Boston.
These funds will be held by the State Treasurer in trust for the various indi-
.
P.D.
vi
8,
Part III.
viduals for six years from the date of receipt by him when the remaining balances,
together with the interest earned thereon, if any, will escheat to the Commonwealth.
Treasurer and Receiver-General
The cash and securities held by the Treasurer and Receiver-General were examined by this department as of September 1, 1928, at the request of the Finance
Committee of the Executive Council, to whom a report was rendered.
Comparative statements and statistics relating to co-operative banks
follow
Respectfully submitted,
ROY
A.
HOVEY,
Commissioner of Banks.
CO-OPERATIVE BANKS
Organized and Commenced Business
Jan. 4, 1928, The Uphams Corner Co-operative Bank, Boston.
Jan. 10, 1928, The Commonwealth Co-operative Bank, Boston.
Apr. 10, 1928, Scituate Co-operative Bank, Scituate.
May 3, 1928, Glendale Square Co-operative Bank, Everett.
May 14, 1928, The King Square Co-operative Bank, Boston.
Additional Locations authorized during the Year ending October 31, 1928, for the Collection of Money under Provisions of G. L., Chap. 170, sec. 11
Number
Number
of
banks
............19
.........
10
approved
banks having branches
of locations
.
Total number of
Total number of branches
Permits issued
borrow
to
.
.
.
.
.
.
.
.
.
.
.
.114
248
Money during the Year ending fOctober
ofGL., Chap. 170, sec. 16
.....
...
Number issued
Number of banks borrowing
Amount of permits issued
.
.
.
.
31
,
under Provisions
1928
1927
1926
149
83
$4,484,500
182
98
$5,160,000
281
116
$8,134,500
Legislation enacted,
Chap. 44.
Chap. 292.
Relative to the filing of annual reports.
Relative to fees for examination and audit.
STATEMENTS RELATING TO CO-OPERATIVE BANKS
INDEX
STATEMENT
NUMBER
banks at close of October business
banks at close of June business
statements, year ending October 31
Aggregate statement of condition of
VII
all
...........
..........
..........
.........
........
Comparative statement
Comparative profit and
of condition of all
viii
loss
viii
Matured shares
Receipts and disbursements
for the year ending
ix
October 31, 1928
ix
X
X
Operating expenses
Statistics of business
Comparative exhibit
of each year
9.
10.
11.
12.
13.
14,
15.
16,
.
of interest rates
.
.
from
1.918 to
1928 on outstanding loans
n October 31
xi
xi
xii
.
Comparative exhibit of dividend rates from 1917 to 1928
Rates of interest on real estate and share loans October 31, 1928
Real estate by foreclosure
Real estate by foreclosure and common-form mortgages, 1890 to 1928
.....
Classification of shareholders
Statement of shares matured since last report
Principal assets of banks from 1879 to 1928, inclusive
Principal liabilities of banks from 1879 to 1928, inclusive
.
.
.
.
xiii
xiv
xiv
.
.
XV
xxvi
xxviii
P.D.
Part
8,
vn
III.
STATEMENT
No.
1
Aggregate Statement op Condition of All Co-operative Banks
Oct. 31, 1927,
221 Banks
Oct. 31, 1928,
ASSETS
Percentage op Investments to
Total Assets. October 31
226 Banks
1928
1927
1926
1925
1924
1923
.48
.11
.04
.10
.18
.46
92.98 93.61
1.86
1.86
94.46
2.01
94.37
2.15
94.03
2.29
94.00
2.45
Securities
$2,501,665 20
$547,774 72
480,109,721 47
9,597,600 75
447,671,719 31
8,901,592 43
1,030,250 00
869,219 00
.20
.18
.16
.13
.10
.07
198,690 00
541,163 95
173,880 00
181,780 69
.04
.11
.04
.04
.04
.02
.04
.02
.04
.02
.03
.03
3,696,420 92
1,717,710 86
1,158,870 37
1,696,710 68
.72
.33
.24
.36
.08
.37
.05
.37
.03
.38
.02
.30
388,929 80
1,006 33
19,682 91
355,871 67
577 89
20,466 01
—
-
—
-
-
177,857 75
222,872 22
12,837 02
163,544 96
215,537 18
27,199 59
—
.03
.04
.03
.05
.01
.04
.04
.01
—
—
—
65,803 47
132,297 03
31,776 77
88,093 49
.01
.03
.01
.02
.01
.01
.01
.06
.01
.01
—
15,946,869 97
16,116,069 91
3.09
3.37
2.64
2.55
2.74
2.46
$516,361,379 65
$478,220,684 67
100
100
100
100
100
100
Bonds and notes
Loans
Loans on real estate
Loans on shares
Loans on matured share
.
certificates
Loans on paid-up share
certificates
Common form mortgages
Real Estate
Real estate by foreclosure, etc.
Bank
building
.
Arrearages
Unpaid interest
Unpaid premiums
Unpaid fines
.
.08
.07
.07
.07
.07
.08
—
—
.01
.01
Miscellaneous
Furniture and fixtures
Temporary expense
Personal accounts
Insurance and taxes
paid
.
Sundry
assets
.04
.04
.04
.05
.04
.05
Cash
Cash and cash items
.
LIABILITIES
'
October 31, 1928 October 31, 1927
....
....
1928
Decrease
1928
Increase
Capital
Dues capital
Profits capital
...
Matured shares represented by
ficates
Paid-up shares represented by
$15,162,916 00
3,354,960 62
—
126,878,400 00
112,114,200 00
14,764,200 00
—
34,765,400 00
31,296,200 00
3,469,200 00
-
9,474,551 06
6,583,209 31
8,208,192 07
5,897,448 41
1,266,358 99
685,760 90
—
2,973,332
12,610
89,378
201
35,491
96
74
41
2,909,750 71
16,778 57
79,397 11
220 15
32,008 81
63,582 25
138,970
893,651
5,000
27,818
17,125
18,675
708,463
168,415
2,689,479
1,517,000
86,310
60
52
00
34
58
122,099 49
1,342,345 69
16,871 11
certi-
cates.
Surplus
Guaranty fund
Surplus
$258,828,441 00
51,931,576 96
certi-
.....
....
.....
.....
.....
......
....
.
$273,991,357 00
55,286,537 58
Undivided Earnings
Interest
Premiums
Fines
Transfer fees
Withdrawal
profits
15
31
$4,167 83
9,981 30
—
19 00
3,482 50
-
Miscellaneous
Forfeited share account
Matured share account
Retired share account
Personal accounts
Security committee
Due on foreclosure sales
Dividends, matured share certificates
Dividends on paid-up shares
Due on uncompleted mortgage loans
.
....
.
.
Bills
payable
Sundry
liabilities
....
.
v
.
59
59
27
13
00
51
$516,361,379 65
-
12,534
16,067
8,248
618,871
151,811
3,096,998
1,491,100
46,392
78
89
16
25
93
448,694 17
5,000
15,283
1,057
10,427
89,592
16,603
00
56
69
43
34
34
—
-
407,519 68
81
00
88
25,900 00
39,917 63
$478,220,684 67
$39,001,095 66
-
$860,400 68
—
P.D.
Vlll
STATEMENT
8,
Part
III.
No. 2
Comparative Statement of Condition of All Co-operative
Banks at the Close of Their June Business
assets
Loans
Loans
Loans
Loans
....
....
....
......
....
on real estate
on shares
on matured share certificates
on paid-up share certificates
Bonds and notes
Common-form mortgages
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
Insurance and taxes paid on mortgaged properties
Cash
Other assets
June, 1928
June, 1927
226
220
$467,689,249
9,348,099
923,984
179,599
1,198,694
323,315
2,545,341
1,676,452
194,511
35,758
19,760,308
68,247
.
50
75
00
00
76
70
68
34
40
58
03
11
$503,943,561 85
LIABILITIES
.........
Dues
capital
Profits capital
Matured share
Paid-up share
June, 1928
$269,053,424
53,298,263
123,868,400
33,871,800
124,646
1,035,659
9,004,378
6,262,806
3,433,998
652,500
2,683,775
393,747
117,651
142,511
certificates
certificates
Forfeited shares
.
Matured shares payable
Guaranty fund
Surplus
Net undivided earnings
Bills payable
Due on uncompleted loans
Dividends on matured share certificates
Dividends on paid-up share certificates
Other
....
liabilities
'
21
63
00
17
12
91
70
37
16
09
57
33
$460,432,226 26
June, 1927
00
79
00
00
15
78
41
12
38
00
16
69
04
33
$503,943,561 85
STATEMENT
$429,376,328
8,552,206
765,988
166,307
538,331
91,916
902,863
1,686,399
153,641
16,343
18,148,487
33,413
$252,889,763
49,969,991
105,723,200
30,408,200
121,795
710,931
7,758,055
5,582,150
3,261,097
606,000
2,881,395
324,671
102,302
92,671
00
47
00
00
30
41
07
86
50
00
57
95
63
50
$460,432,226 26
No. 3
Comparative Profit and Loss Statements, Year ending October 31
1928
1927
1926
Gross Income
Interest
$29,010,126
116,402
738,745
268,727
2,045
41,413
201,906
.
Premiums
Fines
Withdrawal
profits
Transfer fees
Security committee
Miscellaneous
.
....
....
....
09
01
34
44
35
62
i,435,643 82
5,246,761 79
02
57
71
87,777 89
494,767 72
225,806 83
97,783
617,452
244,359
2,012
36,564
156,442
19
1,834 14
53
50
29,349 65
72,074 14
$30,379,366 26
$27,590,258 34
$24,158,372 16
2,166,274 77
64,477 14
$1,927,382 69
71,320 20
41
Deductions
Current expenses
Furniture and fixtures
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
88
60
26
23
194,287 40
186,068 77
$27,954,326 95
$25,405,486 68
$22,231,823 19
$6,428,257 26
1,670,378 89
17,737,309 33
$5,374,096 58
1,484,722 79
16,453,178 63
$4,181,667 48
1,275,287 93
14,868,175 24
52,118,381 47
$2,093,488 68
$1,906,692 54
1,216,061 33
902,320 14
$1,163,805 69
929,682 99
$1,030,023 01
876,669 53
P.D.
8,
Part III.
IX
STATEMENT
No. 4
Matured Shares
YEAR
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
Num-
Num-
ber of
ber of
Banks
Series
62
86
104
128
135
149
167
178
180
170
204
220
218
228
218
253
251
265
266
262
277
285
296
303
322
368
385
409
428
449
463
38
49
64
73
86
87
94
95
98
95
110
114
115
112
114
119
127
127
127
128
131
130
136
139
149
159
162
170
175
179
183
Total
Value
of
Shares
matured
$602,349 12
923,071 12
1,022,403 58
1,153,123 44
1,197,405 10
1,353,951 34
1,586,587 40
1,556,979 47
1,594,008 36
1,716,425 03
2,284,508 06
2,970,928 80
2,564,155 15
3,458,541 43
3,903,000 95
5,105,479 94
5,535,693 01
6,026,107 13
6,240,459 01
7,095,216 65
8,709,542 01
9,795,956 02
10,351,277 98
12,162,769 82
15,436,072 70
21,903,386 37
28,935,344 02
38,542,292 16
45,525,062 82
46,729,780 14
45,535,944 96
Num-
Num-
ber of
Shares
ber of
2,979
4,569
5,079
5,730
5,938
6,708
7,873
7,737
7,916
8,554
11,346
14,766
14,641
17,156
19,388
25,363
27,551
30,046
31,075
35,333
43,387
49,355
51,550
60,568
76,918
109,100
144,259
191,985
227,813
232,628
226,977
Holders
Number of
Borrowers
701
1,135
1,252
1,483
1,389
1,615
1,785
1,683
1,802
1,980
2,465
3,103
3,122
3,488
4,036
5,122
5,474
5,589
5,806
6,624
7,583
8,698
8,845
10,674
12,796
17,482
22,404
27,901
31,944
32,395
30,620
STATEMENT
198
309
322
377
375
430
489
456
489
525
595
773
741
804
858
Amount
Loans
of
cancelled
$164,620
275,285
300,738
331,078
362,655
395,509
465,901
478,484
450,350
477,953
542,556
726,757
716,692
776,991
789,219
987,580
1,060
1,059
1,155
1,276
1,402
1,639
1,712
1,711
2,035
2,257
2,574
2,812
2,992
3,380
3,540
4,053
1,089,235
1,196,903
1,294,412
1,427,750
1,777,426
1,882,487
1,878,739
2,309,387
2,611,130
3,033,620
3,534,030
3,721,238
3,116,422
4,673,811
5,509,809
00
00
00
00
00
00
00
00
00
00
00
00
15
90
13
80
00
97
73
00
30
62
46
96
26
10
Average
Duration of
Series
139Vio months
1398/io
140«/io
1411/5
1421/a
14375
143 9 /io
1446/io
145Vio
145 7 /io
1461/n
146Vio
146V2
146 4 /io
146 3 /io
1457io
145 3 /io
1449/io
144Vio
144Vio
144Vio
1442/io
144
143 8 /io
143 5 /io
143 3 /io
143Vio
48
90
60
00
142 5 /io
32
1422/w
1429/io
142Vio
No. 5
Receipts and Disbursements for the Year ending October
31, 1928,
on Certain Accounts Not Shown Elsewhere
Disbursements
Receipts
....
Capital
Capital
Dues
capital
Profits capital
.
.
.
Matured share
Paid-up
certificates
share certificates
.
$86,571,726 00
5,823,215 11
22,014,100 00
6,016,200 00
Loans and Investments
Real estate loans repaid
Share loans repaid
Matured share loans repaid
Paid-up share loans repaid.
Mortgages repaid, common form
Bonds and notes sold
Dues
Dues
Dues
Dues
capital withdrawn
capital forfeited
capital retired
capital matured
Profits capital withdrawn
Profits capital forfeited
Profits capital retired
Profits capital matured
.
.
.
Matured share
Paid-up
certificates
share certificates
00
00
00
00
53
$38,283,832
479,868
153,613
32,491,497
7,006,133
70,856
61,339
13,067,234
7,249,900
2,547,000
00
00
132,501,344
8,414,723
1,011,472
263,090
396,531
3,539,910
01
80
00
00
01
24
18
38
71
Loans and Investments
100,063,341
7,718,715
850,441
238,280
37,147
1,586,019
85
48
00
00
75
76
....
Real estate loans
Share loans
Matured share loans
Paid-up share loans
Mortgages, common form
Bonds and notes purchased
P.D.
STATEMENT
8,
Part
III.
No. 6
Operating Expenses
Year ending
Classification
Amount
$1,297,041
276,273
95,195
515,568
Salaries
Rent
Advertising
Other expenses
.
Total
Oct. 31, 1928
Oct. 31, 1927 Oct. 30, 1926 Oct. 31, 1925 Oct. 31, 1924
Cost for
Cost for
Cost for
Cost for
Cost for
Each $1,000
Each $1,000
Each $1,000
Each $1,000
Each $1,000
of Assets
of Assets
of Assets
of Assets
of Assets
35
70
85
$2 45
49
00
$2 48
53
18
93
$4 23
$4 12
$2 51
54
18
17
1
$2,184,079 07
$2 59
45
18
02
$2 54
49
19
1 04
$4 14
$4 26
$4 45
1
STATEMENT
1
19
22
No. 7
Statistics of Business
1928
1927
Y"ear ending
October 31
1926
1925
1923
1924
Shares
Number in force
Number borrowed upon
Number issued
Number withdrawn
Number forfeited
Number retired
Number matured
.
.
Matured shares
Real Estate Loans
Number
Number
celled
of same
of loans
.
713
907
144,259
109,100
634,392
560,571
455,952
335,079
230,995
157,079
173,827
156,481
137,175
114,427
90,553
66,755
137,309
$3,497
130,620
$3,427
121,191
$3,317
111,549
$3,124
101,324
$2,895
92,485
$2,688
2,282
1,930
1,758
6.09
6.10
6.11
32,259
$132,501,344
31,459
$132,100,456
31,056
$126,289,716
38,208
6.09
35,215
32,847
6.12
29,941
6.12
512,590
497,220
11.49
of
Average rate of interest
made
561
227,813
5,331,753
2,341,397
1,491,593
848,223
12,704
can-
by maturity
shares
Number
4,461,029
1,739,776
1,290,324
664,443
10,168
5,679,453
2,592,799
1,529,192
927,375
21,364
125
232,628
repre-
sented by certificates
Paid-up shares represented by certificates
Average
3,990,288
1,484,012
1,176,991
586,642
7,519
4,929,461
2,061,007
1,442,120
771,053
9,198
1,452
191,985
5,889,523
2,784,311
1,485,209
1,015,923
31,107
1,132
226,977
6.08
6.05
during
6.01
-
—
28,094
6.11
25,029
6.12
466,492
439,553
382,274
357,117
11.42
11.43
11.21
11.67
11.17
$107.86
$104 44
$100 78
$96 62
$99 06
$93 97
tured share certificates
of holders of
paid-up share certi-
94,708
84,393
70,299
53,275
38,758
27,493
ficates
28,375
26,181
23,473
20,278
16,895
13,113
160,056
352,534
152,008
345,212
141,847
324,645
130,030
309,523
117,366
264,908
107,589
249,528
5.63
5.65
5.61
5.55
5.52
5.49
$2,184,079 07
$1,970,520 09
$1,766,722 00
$1,572,507 09
$1,389,403 23
$1,184,870 96
.42
.41
.41
.42
.44
.45
year
Amount
of
same
.
-
Share Loans
Number
Average rate of interest
Membership
Number of members
6.12
Average number of shares
held by each
member
Average profits to credit
of each member
Number of holders of maNumber
Borrowers
Number of borrowers
Number of non-borrowers
.
Miscellaneous
Average rate
of dividend
Total expenses during
year
Percentage of total expenses to total assets
Profits credited to shares
during year
$17,737,309 33 $16,453,178 63 $14,868,175 24 $13,373,025 05 $11,929,135 37 $10,635,984 86
Percentage of surplus and
guaranty fund to total
—
—
—
assets
3.11
2.83
2.95
Percentage of increase in
assets
7.97
12.39
15.23
18.37
17.83
17.62
P D.
8,
Part
III.
XI
STATEMENT
No. 8
Comparative Exhibit of Interest Rates from 1918 to 1928 on Outstanding
Loans on October 31 of Each Year
Amount
Percentage of Total Loans
of
Loans
1928
Oct. 31, 1928
$1,801,965 00
At 5 per cent
Between 5 and 6
per cent
.
At 6 per cent
Between 6 and 6 3 /io
per cent
1925
1.43
.92
.61
2,391,215 00
.49
.49
39,277,196 00
8.02
7.87
.
1924
2.21
1922
1923
3.38
1921
5.22
1920
1919
1918
7.55 10.16 13.53 17.18
.57
.64
1.05
1.08
.76
.72
.66
7.60 7.19
6.92
6.84
6.80 7.00 7.06
6.95
7.04
.53
64,982,565 29 13.27 15.53 18.88 15.97 13.89
1.72 2.30 2.55 2.76 2.73
8,438,391 00
.
At 7 per cent
Between 7 and 8
per cent
.37
1926
2.84 3.87 5.13 6.87 9.45 12.91 18.12 24.08 30.70 36.30 40.19
13,904,221 96
358,185,482 97 73.14 69.19 64.25 65.04 63.97 62.58 58.58 52.73 48.11 40.92 33.87
At 6 3 /io per cent (5
cents premium)
Between 6 3 /io and 7
per cent
1927
.
At 8 per cent
At more than 8 per
cent
.68
9.20 6.01
3.80 3.76
3.62
3.49
1.86
1.29
.54
.17
.96
.05
354,035 00
97,490 00
.07
.02
.05
.02
.04
.02
.07
.03
.07
.04
.10
.08
.21
.15
.32
.38
.31
.38
.06
.02
.03
.01
274,760 00
.06
.07
.08
.07
.07
.05
.05
.13
.11
.02
.01
STATEMENT
No. 9
Comparative Exhibit of Dividend Rates on Serial Shares from 1917 to
1928
Number op Banks paying at Each Rate
RATE OF
dividend
(PER CENT)
.
1
1928
1927
1926
1925
1924
1923
1922
1921
1920
1919
1918
1917
-
1
-
1
1
1
-
1
5
3
1
-
—
1
\/
1
1-74:
2H
2V2
2%
3
3M
3^
3M
4
4K
4^
-
-
:
-
1
1
-
-
1
1
-
1
1
3
4
1
1
1
-
434
-
1
-
4^
1
2
1
1
4M
4^
4Ve
4K
4 ^
4 ^
4^6
__
—
—
-
15
6
31
i
:
1
1
1
2
.
5
-
-
2
28
-
.
5We
5Vs
&Ai
5^6
2
:
—
1
25
2
-
-
5
5
:
—
—
—
29
1
7
:
:
—
1
—
30
—
-
—
—
1
34
1
-
—
-
8
16
1
—
-
—
1
2
38
1
5M
5^6
5Vs
•
.
5 9/f«
5Vs
.
5»/^2
5»/f6
5M
13
5 ^6
5.85
5V$
5.88
—
—
—
—
—
1
1
—
1
3
1
3
6
4
-
-
84
79
•
—
3
1
-
85
72
—
1
1
2
2
—
—
-
25
—
-
—
-
-
—
44
2
1
41
2
2
-
20
25
27
1
23
—
3
2
5
4
62
—
—
1
1
1
4
—
4
4
1
—
2
1
—
—
—
-
1
2
—
-
—
—
-
-
1
37
58
67
69
1
2
3
1
2
1
1
51
49
—
—
2
4
1
-
1
1
-
-
-
28
26
21
12
12
11
2
1
-
—
3
3
-
1
2
-
—
1
-
-
—
1
1
-
2
1
2
6
-
6
23
2
9
1
—
-
—
2
4
3
66
—
—
2
-
1
-
—
—
1
-
—
78
—
•
5V2
521/40
2
—
1
3
-
2
3
3
2
4
-
18
17
14
1
9
—
-
1
1
5i3/48
5",6
3
-
-
3
—
1
5%
5 7/fe
2
1
—
-
3
2
41
—
—
—
1
1
1
-
—
40
—
1
1
-
36
1
1
1
1
-
2
-
-
-
6
7
3
1
—
—
6
—
—
1
1
_
-
-
2
1
-
-
-
2
_
1
-
—
P.D.8, Part III,
Comparative Exhibit op Dividend Rates on Serial Shares from 1917
xii
to 1928
Number of Banks paying at Each Rate
RATE of
dividend
(PER CENT)
5Vio
5 15/i6
5.975
6
.
.
1928
1927
1926
_
-
_
_
-
-
—
71
69
1
-
6i/io
6^
61/s
6M
6^
3
1925
1924
1923
1922
1921
1920
1919
1918
1917
2
1
1
1
—
-
-
1
—
-
60
46
39
—
-
-
50
2
49
36
40
35
34
31
1
1
1
1
1
1
1
-
1
-
-
1
1
1
1
1
1
1
1
_
-
-
-
-
-
-
1
-
1
—
—
—
-
—
—
-
—
—
-
1
—
-
—
—
—
-
—
-
1
1
-
-
1
1
-
1
1
—
—
—
1
1
-
-
—
1
2
_
-
_
-
_
1
6^6
6
&
Concluded
9
/io
5
A
1
6%
1
-
GV&
7
8
.
.
Totals
Average rate
1
—
—
-
—
—
—
—
—
—
—
1
1
—
—
226
221
220
220
217
211
210
206
202
190
186
184
.
5.63
5.65
5.61
5.55
5.52
5.49
5.47
5.39
5.20
5.27
5.31
5.32
No. 10
Rates of Interest on Real Estate and Share Loans, October
5.00
5.20
5.25
5.30
5.50
5.75
6.00
6.10
6.12
6.25
6.30
6.37
6.40
6.42
6.48
6.50
6.52
6.57
6.60
6.66
6.75
6.88
1
—
.
STATEMENT
Rate
Per Cent
—
—
-
Real Estate
Share
Loans
Loans
$1,797,925
350
769,000
152,710
7,441,281
5,454,720
350,563,329
595,770
1,543,500
218,100
38,688,904
00
00
00
00
96
00
22
00
00
00
00
-
247,900 00
—
-
63,622,750 29
—
—
80,200 00
—
Rate
Per Cent
$4,040 00
—
300 00
-
85,860 00
-
7,622,153 75
10,095 00
-
23,750 00
588,292 00
525 00
11,660 00
280 00
19,600 00
996,385 00
125 00
115 00
1,400 00
90 00
1,160 00
375 00
7.00
7.01
7.25
7.40
7.46
7.50
7.75
8.00
8.25
8.50
8.64
8.75
9.00
9.25
9.50
9.75
10.00
10.25
10.50
10.75
12.00
Real Estate
Share
Loans
Loans
$8,225,981 00
.
—
.
64,000 00
.
-
.
.
164,600
119,100
93,800
58,500
50,350
.
.
.
.
.
.
-
00
00
00
00
00
00
00
700 00
500 00
.
.
.
.
.
.
.
.
-
.
Average rate
00
00
00
00
00
28,850
34,800
27,500
27,450
17,250
13,100
6,800
.
.
31, 1928
$212,410 00
65 00
-
350 00
90 00
890 00
4,940 00
3,690 00
1,500 00
100 00
1,500 00
1,150 00
350 00
1,200 00
650 00
—
1,450 00
1,050 00
—
10 00
$480,109,721 47
$9,597,600 75
6.09%
6.09%
P.D.
Part III.
8,
xiii
STATEMENT
No. 11
Real Estate by Foreclosure
Principal
....
Balance as shown in statement of October, 1927, 264 estates
Acquired during the year ending October. 1928
.
$1,158,870 37
1,336 estates:
Total loans eliminated by foreclosure
Interest and fines due at date of foreclosure
Taxes, insurance, etc., paid to date of foreclosure
Legal and other expenses to date of foreclosure.
$6,078,599
301,731
67,175
68,161
Value of shares credited to account
$6,515,668 03
435,379 48
.
.
.
.
.
20
77
68
38
6,080,288 55
$7,239,158 92
Received for 849 estates sold during year
Profits on estates sold during year
.
.
.
.
.
Losses on estates sold during year
Amounts charged off to cover depreciation or
prospective loss
.
.
.
.
.
.
.
$3,715,516 37
83,798 18
$3,631,718 19
106,806 95
27,046 85
$3,765,571 99
$3,473,586 93
Income and Expense
Rents, received since October, 1927
Expenses and taxes paid since October, 1927
.
Net
deficit for
the year
deficit
Deficit
Income applied
to reducing
Deficit applied to increasing
.
'
.
was disposed of as
to profit and loss
charged to profit and loss
This
Income credited
.
.
.
.
$75,130 08
297,001 07
$221,870 99
follows:
...
.
.
.
963 00
-
book value $3,653 68
book value 226,487 67
$222,833 99
222,833 99
Balance as shown in statement of October 31, 1928 (751 estates
assessed at $2,965,938)
$3,696,420 92
xiv
P.D.
STATEMENT
8,
Part III.
No. 12
Real Estate by Foreclosure and Common-Form Mortgages, 1890 to 1928
Real Estate by
Common-Form Mort-
Foreclosure
YEAR ENDING
OCTOBER 31
GAGES
Number
Number
Amount
of
of
Banks
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
.
.
28
33
41
46
58
72
83
84
89
85
86
90
82
78
88
64
57
52
35
45
40
47
62
59
72
79
.
61
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
40
28
30
.
19
.
.
22
31
46
76
123
.
.
.
.
.
Amount
Amount
Banks
14
16
18
.
Total
.
$49,833
67,556
98,480
105,197
139,136
184,550
282,609
531,041
782,370
890,604
993,150
1,041,708
946,147
839,223
730,486
580,426
529,701
365,051
334,862
244,553
215,309
161,274
139,819
162,525
187,546
270,693
318,583
381,279
552,944
336,882
137,395
76,059
87,836
45,182
82,554
178,336
340,681
1,158,870
3,696,420
19
3
5
3
4
6
9
10
19
86
99
75
92
28
61
25
42
57
06
29
90
20
23
30
31
32
41
14
12
41
45
49
52
52
51
74
26
38
85
82
70
71
45
47
48
50
43
43
19
58
07
14
21
41
43
66
69
48
45
40
36
13
60
70
47
93
01
86
60
37
92
STATEMENT
31
30
26
23
21
28
44
$7,800
10,147
9,960
22,990
43,649
31,724
25,827
77,750
106,972
124,970
181,383
313,125
324,392
367,239
398,298
407,569
383,335
370,950
330,958
305,997
274,015
245,284
215,319
196,747
176,433
193,513
170,006
159,722
175,955
165,900
166,178
134,272
97,953
83,166
75,661
68,909
64,560
181,780
541,163
00
88
00
00
59
55
78
36
99
27
54
26
66
15
50
18
61
40
07
23
26
21
69
75
09
33
56
13
52
93
02
73
28
89
86
60
34
69
95
$57,633
77,704
108,440
128,187
182,786
216,274
308,437
608,791
889,343
1,015,574
1,174,533
1,354,833
1,270,540
1,206,462
1,128,784
987,995
913,036
736,001
665,820
550,551
489,324
406,558
355,138
359,273
363,979
464,206
488,589
541,001
728,900
502,783
303,573
210,332
185,789
128,349
158,215
247,246
405,241
1,340,651
4,237,584
19
74
99
75
51
83
39
61
41
84
60
55
56
29
62
92
87
78
92
05
96
92
88
33
16
47
77
79
21
06
62
43
75
82
87
46
94
06
87
No. 13
Classification of Shareholders
Number
.....
of holders, Oct., 1927
Added during year
Withdrawn during year
Number
of holders, Oct.,
....
1928
Unmatured
Matured Share
Paid-up Share
Shares
Certificates
Certificates
432,174
75,633
84,393
17,282
26,181
4,970
68,720
6,967
2,776
439,087
94,708
28,375
P.D.
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XXV
P.D.
XXVI
8,
Part III.
STATEMENT
Principal Assets of Co-operative
Year
No.
of
Banks
Bonds and
Loans on
Loans on
Notes
Real Estate
Shares
Loans
on Matured
Share
Certificates
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
10
16
18
25
25
26
30
40
51
66
93
103
108
115
116
117
119
122
123
124
125
126
128
130
130
129
130
133
135
137
140
147
160
162
169
174
179
183
184
186
190
202
206
210
211
217
220
220
221
226
_
$2,050
-
51,779
17,793
30,527
84,254
62,391
114,131
157,884
125,365
82,927
115,439
82,668
86,526
132,350
237,754
214,922
346,140
445,876
294,890
203,450
111,879
149,849
122,789
89,110
154,449
335,400
75,924
200,397
1,232,157
3,053,233
3,417,811
2,975,161
3,283,745
1,672,718
1,222,571
559,303
373,579
174,169
547,775
2,501,665
$176,305
328,687
572,213
923,963
1,308,479
1,771,778
2,253,668
2,887,369
3,797,628
4,884,665
6,405,208
8,325,923
10,791,169
13,093,402
15,577,718
16,590,389
18,427,199
20,777,353
21,835,114
22,825,741
23,270,571
24,046,155
24,954,786
26,469,757
28,940,169
31,580,140
34,465,236
38,155,669
43,072,942
46,989,242
51,543,428
56,896,951
62,777,184
69,436,620
76,616,904
84,413,019
93,987,791
103,657,829
116,642,777
128,463,986*
142,524,526*
160,686,767*
181,161,476*
209,252,762*
248,864,747*
293,344,999*
348,503,053*
401,967,888
447,671,719
480,109,721
$7,623
15,558
26,013
36,511
63,872
87,984
112,743
151,944
195,406
241,316
267,545
363,793
520,801
599,121
815,771
784,732
851,331
989,834
962,510
1,009,018
1,109,349
1,155,074
1,208,597
1,275,680
1,547,442
1,554,301
1,599,559
1,742,547
2,128,793
2,258,420
2,238,821
2,401,321
2,476,655
2,567,721
2,794,939
2,935,764
3,220,953
3,324,625
3,717,687
3,820,342
3,961,156
4,895,533
5,782,203
5,883,660
6,498,179
7,157,473
7,933,099
8,548,671
8,901,592
9,597,601
—
—
—
-
—
$8,440
24,210
68,125
101,135
143,278
193,000
305,543
471,105
681,055
869,219
1,030,250
Loans
on Paid-up
CommonForm Mort-
Shares
gages
.
—
—
—
—
—
—
$12,965
24,370
66,455
119,160
139,364
174,360
173,880
198,690
* Including loans on real estate under chapter 47, General Acts of 1918.
-
—
—
$9,960
22,990
43,650
31,725
25,828
77,750
106,973
124,970
181,384
313,125
324,393
367,239
398,298
407,569
383,336
370,950
330,958
305,997
274,015
245,284
215,320
196,748
176,433
193,513
170,007
159,722
175,955
165,901
166,178
134,273
97,953
83,167
75,662
68,910
61,560
181,781
541,164
P.D.
8,
Part
xxvn
III.
No. 15
Banks from 1879 to
Real Estate
by
Arrearages
Foreclosure
$6,309
8,997
4,929
16,297
34,567
49,833
67,557
98,481
105,198
139,137
184,550
282,610
531,041
782,370
890,605
993,150
1,041,708
946,148
839,223
730,486
580,427
542,868
365,051
334,863
244,554
215,310
161,275
139,819
162,526
187,546
270,693
318,657
381,280
552,945
336,882
137,396
76,060
87,837
45,183
82,554
178,337
340,682
1,158,870
3,696,421
$4,954
5,241
9,134
15,153
21,773
27,541
32,957
38,829
51,640
66,880
65,940
—
56,550
66,178
87,214
107,438
117,085
149,267
150,893
163,172
172,561
163,729
166,565
154,291
149,970
154,031
156,673
130,379
156,582
197,190
188,780
171,072
167,335
187,216
150,616
152,827
161,714
162,698
171,705
182,826
174,416
156,652
195,789
219,917
220,824
247,227
282,792
330,977
376,916
409,619
1928, inclusive
Expense
Account
$2,559
3,694
4,822
6,498
6,099
6,222
7,380
9,286
11,538
14,072
20,324
24,129
23,919
24,345
25,562
23,358
23,842
25,265
24,982
23,837
24,650
25,087
25,920
27,380
32,510
31,068
26,481
31,346
32,800
35,217
36,820
40,405
48,495
47,683
52,854
58,483
73,876
73,451
70,453
84,947
110,326
126,446
181,179
233,796
219,600
258,748
291,044
345,028
379,082
400,730
Cash on
Bank
Building
_
-
-
-
'-
$52,158
317,627
523,138
658,778
802,155
1,193,081
1,351,566
1,564,024
1,696,711
1,717,711
Hand and
in
Banks
$13,279
16,698
40,101
49,121
66,340
76,474
96,345
128,842
145,331
268,426
313,045
394,386
380,080
687,115
351,837
829,267
795,397
484,511
872,216
771,407
1,024,462
1,057,177
858,162
1,033,439
783,477
922,583
1,092,096
1,085,708
753,702
967,631
1,257,809
1,330,282
1,558,529
1,769,385
1,564,444
2,504,427
3,537,604
5,372,783
4,288,823
3,804,092
4,078,519
4,424,538
4,714,234
6,791,707
6,516,229
8,551,645
9,422,475
11,232,781
16,116,070
15,946,870
Other
Total Assets
Year
$515
534
860
$205,235
372,462
653,143
4,889
4,699
1,924
2,934
3,805
5,477
13,456
1,036,135
1,471,262
1,971,923
2,512,336
3,229,072
4,211,949
5,505,112
7,106,629
9,264,833
11,874,530
14,620,276
17,085,922
18,584,671
20,552,667
22,906,692
24,597,843
25,793,354
26,744,647
27,721,748
28,674,208
30,391,666
32,919,739
35,614,048
38,725,082
42,557,575
47,220,075
51,339,904
55,945,634
61,498,838
67,573,381
74,484,048
81,708,343
90,781,470
101,543,318
113,305,907
126,695,037
140,201,034
154,879,639
173,979,204
196,195,049
225,092,157
264,755,632
311,962,991
369,273,906
425,511,319
478,220,685
516,361,380
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
Assets
-
54,990
16,661
11,147
15,378
4,309
7,407
14,140
17,972
27,909
12,040
17,324
18,819
28,228
21,955
28,219
50,901
39,846
44,365
22,931
17,546
19,633
15,834
31,174
14,863
17,571
21,250
25,460
30,433
54,268
33,734
24,781
28,852
25,381
23,522
67,596
258,582
87,124
147,070
210,938
P.D.
XXV111
8,
Part III.
STATEMENT
Principal Liabilities of Co-operative
Year
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
No. of
Dues
Profits
Banks
Capital
Capital
10
16
18
25
25
26
30
40
51
66
93
103
108
115
116
117
119
122
123
124
125
126
128
130
130
129
130
133
135
137
140
147
160
162
169
174
179
183
184
186
190
202
206
210
211
217
220
220
221
226
$193,519
355,088
633,264
998,400
1,432,422
1,932,475
2,464,337
3,170,096
4,127,679
5,374,777
6,267,286
8,009,038
10,216,145
12,512,367
14,516,478
15,644,530
17,217,776
19,053,082
20,319,076
21,246,168
22,034,825
22,859,955
23,741,905
25,299,943
27,478,895
29,750,625
32,325,730
35,507,667
39,250,508
42,576,682
46,220,344
50,695,747
55,589,298
61,264,523
67,312,569
74,457,577
82,034,231
90,509,866
99,886,278
108,916,004
118,002,683
130,207,195
143,151,471
156,727,689
172,914,135
193,803,117
215,545,845
237,164,920
258,828,441
273,991,357
Matured
Share Certificates
_
-
—
$702,296
1,070,812
1,414,690
1,814,094
2,243,839
2,535,983
2,910,815
3,360,263
3,709,416
3,943,901
4,057,313
4,133,131
4,160,596
4,284,428
4,582,909
4,915,582
5,353,179
5,896,481
6,577,060
7,275,908
7,977,730
8,851,254
9,693,365
10,616,439
11,596,081
12,775,303
14,268,195
15,906,349
17,791,531
19,889,946
22,032,252
24,515,870
27,307,566
30,273,860
33,560,143
37,868,535
42,469,885
47,014,910
51,931,577
55,286,538
..
-
—
—
—
-
—
—
$322,800
1,615,600
2,810,400
4,108,800
6,024,000
8,419,400
11,470,400
14,822,000
20,577,200
31,415,800
46,199,000
67,015,800
91,190,400
112,114,200
126,878,400
Paid-up
Shares
_
—
—
—
—
—
'-
—
-
—
—
—
$466,800
2,790,000
6,949,800
13,351,000
18,110,600
22,885,400
27,435,000
31,296,200
34,765,400
Guaranty
Fund
—
$44
1,890
5,084
7,825
11,906
18,233
27,207
39,195
54,105
68,491
88,129
107,444
126,216
145,693
165,376
183,131
201,942
219,298
237,161
258,699
276,411
304,313
341,406
379,819
436,369
499,048
567,984
644,989
736,663
971,803
1,171,022
1,381,561
1,646,486
1,904,416
2,172,857
2,511,440
2,825,465
3,210,045
3,698,750
4,309,287
5,052,301
5,955,217
7,033,707
8,208,192
9,474,551
Surplus
$690
4,060
2,782
5,104
8,165
12,409
14,749
18,442
24,017
33,225
16,243
25,967
41,314
61,974
82,675
111,508
128,347
161,740
190,683
216,456
241,170
270,233
293,491
314,212
332,530
373,996
413,576
476,478
556,526
672,963
777,028
906,936
1,072,142
1,180,522
1,189,190
1,256,529
1,383,919
1,489,654
1,624,065
1,781,214
1,904,670
2,064,736
2,234,184
2,531,141
2,998,612
3,530,755
4,223,465
5,028,839
5,897,448
6,583,209
Undivided
Earnings
$4,296
2,871
2,999
4,808
6,788
12,244
16,035
17,496
21,761
30,074
77,980
99,625
125,538
137,995
131,683
141,051
146,875
161,541
174,801
177,591
172,425
157,931
158,896
161,598
177,797
208,976
196,431
220,511
259,288
279,099
309,986
331,802
365,285
401,954
448,982
573,984
666,356
722,080
784,219
859,294
990,410
1,098,247
1,162,789
1,335,477
1,597,484
1,942,139
2,327,465
2,738,662
3,038,155
3,111,014
P.D.
8,
xxix
Part III.
No. 16
Banks from 1879 to
1928, inclusive
Divi-
Forfeited
Share
Account
Retired
Share
Matured
Account
Account
Share
dends on
Share
Certifi-
Due on
Divi-
Matured dends on
Paid-up
Shares
Bills
Payable
Other
Uncompleted Liabilities
Total
Liabilities
Year
Loans
cates
$147
159
175
261
988
1,171
—
—
-
923
$2,798
1,808
1,823
1,092
998
2,815
3,157
4,599
7,559
7,255
8,916
13,856
13,832
12,833
11,332
13,412
13,608
13,129
10,916
11,196
14,249
14,743
17,685
16,320
18,216
15,876
25,708
22,986
29,462
26,578
33,441
39,421
37,416
37,027
32,895
53,122
62,481
58,176
66,640
91,028
91,489
105,188
104,645
118,051
122,100
138,971
-
2,148
680
235
3,573
573
2,131
2,932
6,049
6,328
23,198
28,910
20,654
451
809
1,479
4,528
1,129
371
4,674
1,606
371
1,783
5,114
3,079
20,930
640
2,350
48
-
—
5,000
_
—
—
$16,370
8,538
16,427
15,727
35,818
5,497
8,573
12,907
5,147
17,571
48,362
40,002
40,608
38,331
41,760
50,203
54,546
151,923
62,244
96,057
90,425
163,582
234,201
116,712
161,309
106,797
147,947
141,458
114,552
217,264
313,813
376,696
543,260
475,123
628,245
1,025,907
804,697
1,342,346
893,652
—
-
—
-
$28,702
42,245
55,547
72,392
88,480
121,491
184,468
266,296
368,130
514,291
618,871
708,464
_
—
-
—
—
-
—
$14,343
38,093
68,303
92,032
110,897
129,640
151,812
168,415
_
—
—
—
-
—
$473,500
247,647
356,300
1,389,200
1,818,500
3,451,500
2,937,600
1,491,100
1,517,000
_
—
—
—
—
—
—
$300,992
229,994
432,229
356,955
682,423
1,804,828
2,352,348
2,441,914
3,680,974
3,330,944
3,096,999
2,689,479
$6,583
10,284
13,923
27,562
22,899
13,580
11,604
14,323
28,577
35,945
10,748
27,585
30,089
15,379
17,878
10,223
21,508
20,313
31,003
19,254
18,276
13,867
20,194
21,866
35,878
31,146
62,486
39,638
25,606
20,392
35,059
30,098
14,886
21,385
34,451
20,446
28,313
35,458
89,331
117,758
251,263
55,655
40,765
43,240
48,240
104,369
108,776
69,658
83,244
149,930
$205,235
372,462
653,143
1,036,135
1,471,262
1,971,923
2,512,336
3,229,072
4,211,949
5,505,112
7,106,629
9,264,833
11,874,530
14,620,276
17,085,922
18,584,671
20,552,667
22,906,692
24,597,843
25,793,354
26,744,647
27,721,748
28,674,208
30,391,666
32,919,739
35,614,048
38,725,082
42,557,575
47,220,075
51,339,904
55,945,634
61,498,838
67,573,381
74,484,048
81,708,343
90,781,470
101,543,318
113,305,907
126,695,037
140,201,034
154,879,639
173,979,204
196,195,049
225,092,157
264,755,632
311,962,991
369,273,906
425,511,319
478,220,685
516,361,380
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
—
ABSTRACT OF ANNUAL REPORTS OF THE CO-OPERATIVE
BANKS SHOWING THEIR CONDITION AT CLOSE OF
BUSINESS, OCTOBER,
1928.
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
28, 1888.
Began business April
4,
1888
Geo. D. Witherell, Treasurer
William C. Brett, President
Board of Directors: A. W. Ames, H. W. Belcher, W. C. Brett, A. N. Calkins, W. C. Gilman, J. M. Hayes*,
E. H. Navlor, G. W. Orcutt, H. F. Packard, A. I. Randall*, A. B. Reed, C. E. Rice, F. E. Shaw* C. N.
Tanner, G. D. Witherell.
Regular meeting 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 paid-up share certificates
Real estate by foreclosure, etc.
Unpaid interest
Unpaid premiums
Unpaid fines
Furniture and fixtures
.
.
Temporary expense account
Insurance and taxes paid
Due from
trust companies
1928
Liabilities
$1,875,600 00
28,450 00
750 00
39,929 18
138 39
5 05
723 65
2,974 13
787 48
1,188 43
and na
tional banks
Cash and cash items
3,
Dues capital
Profits capital
L,
Matured share
Paid-up
certificates
share certificates
Forfeited share account
....
.
Guaranty fund
Surplus
Transfer fees
Bills payable for
2
money borrowed
Due on uncompleted
138,675
272,403
304,600
158,400
112
39,811
26,160
20,000
17,896
65
loans
Security committee
00
42
00
00
45
44
73
00
00
40
00
7,925 93
19,654 20
$1,978,126 44
$1,978,126 44
Membership
Serial Shares
Issued during year
6,855
Withdrawn during year
3,155
Forfeited during year
199
Matured during year
1,347
Shares in force
23,093
Shares now pledged
10,404
New series issued in January, April, July, October.
.
....
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
1,956
769
of:
Paid-up share
1,782
233
117
certificates
Profits Distributed
First term,
Unmatured Shares
second term, 1H%', third term,
1^%;
13^%; fourth term;
1^%.
Matured and Paid-up Share
Certificates
First term,
134%; second term, 134%;
1M%;
1M%-
fourth term,
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
704 real estate loans (average, $2,664 each; average rate, 6.3%): 6.3%, $1,875,600.
94 share loans (average, $303 each; average rate, 6.3%): 6.3%, $28,450.
2 loans on paid-up share certificates: 6.3%, $750.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
53,581.00
1.81
$766.95
$184.00
.39
.09
* Security Committee.
Advertising
Other
Expenses
$2,558.80
1.29
Total
$7,090.75
3.58
—
2
P.D.
ADAMS — ADAMS CO-OPERATIVE BANK
Incorporated December 17, 1895.
Began business March
10,
Part
III.
1896
Fred R. Shaw, President
Board of Directors:
8,
Frank Hanlon, Treasurer
W.
T. Adams, E. H. Arnold, R. C. Buntin, J. J. Carney*, A. M. Daniels, Hector Desautels,
A. E. Green, 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*, W. E. Stoddard, P. J. Vrabel.
Regular meeting for receipt
moneys the second Tuesday
of
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
Loans on real estate
Loans on shares
Due from trust companies and national banks
Cash and cash items
.
.
.
1928
9,
Liabilities
.
$934,720 00
35,800 00
.
50,000 00
34,468 64
.
Dues capital
Profits capital
Matured share
Guaranty fund
$809,489
179,385
9,000
25,208
28,699
2,970
certificates
Surplus
Due on uncompleted
loans
Dividends on matured share
cates
.
.
.
08
00
.
236 25
.
$1,054,988 64
Membership
Serial Shares
Issued during year
.
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in May, November.
.
.
1,956
1,962
.
.
.
240
.
.
.
14,015
5,950
.
....
-
91
certifi
$1,054,988 64
.
00
40
00
....
Members
Members who
Holders
are borrowers
1,223
.
422
.
1,221
9
of:
Unmatured shares
Matured share certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
3%.
Matured Share Certificates
5
5
First term, 2 /
s %8 %; second term, 2 /
Proportion of profits retained on voluntary withdrawals, 10%.
Rates and Averages on Loans
340 real estate loans (average, $2,749 each; average rate, 5.99%): 5%, $1,575;
82 share loans (average, $437 each; average rate, 6%): 6%, $35,800.
5H%,
$13,565;
6%,
$919,580.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$2,675.00
2.54
.
Other
Expenses
$734.44
Advertising
$225. 00
.21
1.25
14
Total
3,784.69
3.59
.70
AMESBURY — THE AMESBURY CO-OPERATIVE BANK
Incorporated April
William
W. Hawkes,
10, 1886.
Began business
May
1,
1886
John Gibbons, Treasurer
President
Board of Directors: R. E. Briggs*. G. E.
Collins,
John Gibbons, W. W. Hawkes*, Charles Schofield*.
Regular meeting 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
Real estate by foreclosure,
Unpaid interest
.
Personal accounts
Due from
trust
.
.
.
.
etc.
.
.
.
$906,325
13,955
7,739
4,033
71
00
00
01
88
Dues
62
Surplus
.
1928
.
.
36,817 99
100 00
$580,230 00
135,650 35
219,000 00
16.619 93
9,357 97
2,500 00
capital
Profits capital
Matured share
Guaranty fund
certificates
Due on uncompleted
companies and na-
tional banks
Cash and cash items
1,
Liabilities
Assets
loans
Dividends on matured share
cates
$969,042 50
* Security Committee.
.
certifi
5,684 25
$969,042 50
P.D.
8,
Part III.
3
Membership
Serial Shares
Issued during year
!
1,449
.
Withdrawn during year
546
37
.
Forfeited during year
....
Matured during year
1,791
10,771
4,798
Shares in force
Shares now pledged
New
Members
Members who
.
1,392
are borrowers
.
452
Unmatured shares
Matured share certificates
.
.
Holders
of:
.
—
May, November.
series issued in
.
1,270
193
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
3%.
term,
Matured Share
Certificates
second term,
2%%.
Proportion of profits retained on voluntary withdrawals, 10%.
Rates and Averages on Loans
418 real estate loans (average, $2,194 each; average rate, 6.3%): 6.3%, $906,325.
39 share loans (average, $358 each; average rate, 6.3%): 6.3%, $13,955.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
$600.00
Other
Expenses
$658.79
53,208.79
.62
.68
3.31
Salaries
Rent
$1,950.00
2.01
Advertising
Total
ARLINGTON — THE ARLINGTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Webster & Atlas Nat'l Bk., Boston; 191 Massachusetts Avenue, Arlington, and 10 Park Avenue, Arlington Heights)
Incorporated October 30, 1889.
Began business November
Horatio A. Phinney, President
14,
1889
Elbert L. Churchill, Treasurer
Walter T. Chamberlain, Assistant Treasurer
W. Allen, G. G. Allen*, S. M. Bartlett, W. G. Bott, J. G. Brackett, W. T. Chamberlain*,
E. L. Churchill, F. W. Hill, J. O. Holt*, H. P. Hopkins, W. H. Keefe, C. A. Moore, J. D. O'Leary, A. B.
Peirce, W. A. Peirce, H. A. Phinney, G. O. Russell, C. H. Stevens, A. O. Yeames.
Board of Directors: C.
Regular meeting for receipt
of
moneys the second Tuesday
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
Real estate by foreclosure, etc.
Due from trust companies and
tional banks
Cash and cash items
5,289,550 00
43,373
1,450
1,040
6,091
00
00
00
23
133,499 21
13,699 16
Dues capital
Profits capital
.
certificates
share certificates
Paid-up
Forfeited share account
.
Guaranty fund
.
.
.
.
Surplus
.
.
.
.
.
loans
Dividends on matured share
.
cates
.
.
.
certifi-
.
5,447 50
.
.
certifi-
3,720 00
.
$3,488,702 60
$3,488,702 60
Membership
Serial Shares
Issued during year
.
.
.
Withdrawn during year
.
.
.
Forfeited during year
.
....
.
Matured during year
.
.
.
Shares in force
Shares now pledged
.
.
.
series issued in
60,905 17
51,529 04
Due on uncompleted
Dividends on paid-up share
.
00
62
00
00
688 37
55,211 90
$2,112,016
465,784
435,800
297,600
r
.
Matured share
cates
New
1928
9,
Liabilities
11,472
5,615
190
1,145
44,636
18,325
....
Members
Members who
Holders
of:
—
are borrowers
Unmatured shares
Matured share certificates
Paid-up share certificates
3,253
908
.
3,009
330
224
.
February, May, August, No-
vember.
Profits Distributed
First term,
1H%;
Unmatured Shares
second term, 13^%; third term,
A%\
\X
fourth term,
1H%-
Matured and Paid-up Share
First term,
1M%;
1M%;
second term,
fourth term,
Certificates
1%%;
Proportion of profits retained on voluntary withdrawals, 25% on series less than 4 years old;
none.
* Security Committee.
third term,
1%%.
after 4 years,
—
P.D.
4
779 real
estate Joans (average,
6^%, $3,161,550.
Part
8,
III.
Rates and Averages on Loans
x
$4,223 each; average rate, 6.47%): 5%, $6,100; b A%,
$2,550; 6%, $119,350;
123 share loans (average, $353 each; average rate, 6.50%)
4 loans on matured share certificates: 6H%, $1,450.
2 loans on paid-up share certificates: 6Hj%, $1,040.
:
6%,
$50;
6J^%, $43,323.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$12,470.03
3.58
$950.00
$654.89
.27
.19
Other
Expenses
Advertising
Total
$17,922.84
5.14
$3,847.92
1.10
ATHOL — ATHOL CO-OPERATIVE BANK
Incorporated July
1,
1889.
Began business July
1889
15,
William G. Lord, President
Alice V.
Goodnow, Treasurer
Board of Directors: C. F. Amsden*, A. E. Caswell, R. L. Dexter, W. L. Edgar, H. C. Fay*, L. B. Fay, Alice
V. Goodnow, G. C. Longley, F. W. Lord, W. G. Lord*, Simon MacKay, F. S. Parmenter,* W. W. Woodward, E. L. Worrick*.
Regular meeting for receipt of moneys the third
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
15,
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
Furniture and fixtures
Insurance and taxes paid
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
$1,513,950 00
27,705 00
7,950 00
890 00
3,585 57
30,000 00
4,467 36
1,262 90
341 33
31 47
.
....
....
....
Dues capital
Profits capital
Matured share
.
cates
.
.
.
.
.
.
1,915 00
.
$1,619,406 36
Membership
Series Shares
.
.
.
.
.
6,842 50
.
certifi-
23,603 81
5,618 92
....
...
....
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
00
56
00
00
25
43
62
certifi.
.
Dividends on paid-up share
cates
$707,429
135,838
556,200
153,200
28,709
24,744
4,527
certificates
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on matured share
$1,619,406 36
.
1928
Liabilities
3,523
1,671
.
54
519
15,739
8,835
May, August, No.
.
....
Members
Members who
Holders
1,625
are borrowers
789
of:
Unmatured shares
Matured share certificates
Paid-up share
vember.
1,370
410
.
141
certificates
Profits Distributed
Unmatured Shares
First term,
l%%\
1%%\
second term,
fourth term,
1
Y
1H%;
Matured and Paid-up Share
First term, l\i%'<
1M%;
Certificates
second term, 134%; third term,
fourth term,
Proportion of profits retained on voluntary withdrawals,
third term,
%.
50%
1M%-
of last dividend.
Rates and Averages on Loans
average rate, 6%): 6%, $1,513,950.
341 share loans (average, $81 each; average rate, 6%): 6%, $27,705.
31 loans on matured share certificates: 6%, $7,950.
4 loans on paid-up share certificates 6%, $890.
968
real estate loans (average, $1,564 each;
:
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$2,648 80
1.63
Rent
$1,602.13
.99
* Security Committee.
Advertising
$115.55
.07
Other
Expenses
$3,560.18
2.20
Total
$7,926.66
4.89
—
.
P.D.
8,
Part
III.
ATTLEBORO
— ATTLEBOROUGH
Incorporated July 18, 1892.
CO-OPERATIVE BANK
Began business August
1892
17,
Solomon B. Jacobs, President
Herbert F. Conant, Treasurer
Board of Directors: M. F. Ashley*, C.
J. Brigham, A. N. Brownell, I. H. Bruce, H. E. Carpenter, H. F. Conant,
A. Cunningham, T. E. Fuller, E. D. Gilmore, S. B. Jacobs*, Joseph Kerkhoff, J. B. Moulton, E. A.
Remington, F. L. Torrey*, R. L. Torrey.
W.
Regular meeting for the receipt
of
moneys the
third
Wednesday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Common
17,
1928
Liabilities
$710,667 00
14,120 00
7,170 00
1,500 00
1,065 00
2,870 09
146 70
1,353 35
real estate
shares
matured share certificates
paid-up share certificates
form mortgages
Unpaid interest
Unpaid fines
Temporary expense account
Due from trust companies and na
tional banks
Cash and cash items
.
14,482 21
Dues
$295,667
53,653
275,000
74,600
13,160
capital
Profits capital
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
10,279
14,311
....
Interest
Fines
Bills payable for
253
money borrowed
Due on uncompleted
15,000
1,650
loans
00
43
00
00
04
08
26
54
00
00
200 00
$753,574 35
$753,574 35
Membership
Serial Sh<
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in January, July
1,287
533
273
....
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
6,452
4,143
762
338
of:
585
219
59
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
2%%;
second term,
2%%.
Matured and Paid-up Share
First term,
2^2%
;
Certificates
l
second term, 2 A%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
average rate, 6%): 6%, $710,667.
61 share loans (average, $231 each; average rate, 6%): 6%, $14,120.
11 loans on matured share certificates
6%, $7,170.
1 loan on paid-up share certificates: 6%, $1,500.
300
real estate loans (average, $2,369 each;
:
Total Expenses
Amount
paid for
Cost per $1,000 of assets
.
AVON
fepr
Year
Salaries
Rent
$2,891.90
3.83
$404.69
$161.05
.54
.21
— AVON
Other
Expenses
$668.73
Advertising
.89
Began business March
Benjamin F. Hunt, President
5,
1914
Arthur A. MacDonald, Treasurer
J. J. Collins, E. C. Crane, F. J. Curran, J. A. Gill, J. A. Gilligan, B. F. Hunt, W. W. LittleP. Lorch, A. A. MacDonald, P. E. McGonnigle, F. P. McNiff*, D. A. Nelson*, W. S. Reynolds,
Board of Directors:
W.
5.47
CO-OPERATIVE BANK
Incorporated February 24, 1914.
field,
Total
1,126.37
R. H. Sheehan.
Regular meeting for receipt of moneys the
* Security
first
Thursday
Committee (one vacancy).
of each
month.
—
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
...
$254,850 00
5,654 00
8,346 00
91 98
.
.
.
.
.
Dues capital
Profits capital
Matured share
Paid-up share
$157,984 00
36,729 50
87,600 00
1,800 00
5 00
2,457 01
1,188 27
2,509 43
61 90
25
16 67
6,050 00
78 00
certificates
certificates
Forfeited share account
27,491 25
46 80
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
$296,480 03
$296,480 03
Serial Shares
Membership
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
Part III.
1928
Liabilities
Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
8,
4,
1,344
412
45
493
.....
Members
Members who
Holders
are borrowers
of:
Unmatured shares
Matured share certificates
.
3,141
1,515
329
137
.
Paid-up share certificates
.
.
.
.
.
.
292
60
3
March, September.
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%\
term,
Matured Share
3%.
Certificates
second term,
2%%.
Paid-up Share Certificates
First term, 2V
2 %\ second term, 2V
2 %.
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
series less
than 7 years old; after 7 years,
Rates and Averages on Loans
114 real estate loans (average, $2,235 each; average rate, 6%): 6%, $254,850.
23 share loans (average, $246 each; average rate, 6%): 6%, $5,654.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
Other
Expenses
$463.45
1.56
Advertising
$543.73
$14.10
1.83
.05
Total
$1,021.28
3.44
BARNSTABLE — HYANNIS CO-OPERATIVE BANK
Incorporated
Thomas
March
11, 1925.
Began business April
18,
1925
Carl B. Mayo, Treasurer
Otis, President
Board of Directors: Louis Arenovski*, J. R. Baxter, Chester Bearse, J. C. Bearse, R. H. Bodman, E. S. Bradford*, M. G. Bradford, John Bursley, C. M. Chase, E. T. Chase, W. B. Chase*, M. H. Crocker, W. I.
Fuller*, E. C. Hinckley, J. E. Hinckley*, J. A. Holwav, J. M. Leonard, E. F. Maker, C. B. Mayo, C. W.
Megathlin, P. T. Morin, J. A. Nickerson, 2d, T. H. Nickerson, Thomas Otis*, J. G. Sears, F. G. Thacher*.
Walter Welch.
Regular meeting for receipt of moneys the third Saturday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Temporary expense account
Due from
tional
trust companies
banks
20, 1928
Liabilities
.
$205,525 00
3,436 00
63 71
and
Dues capital
Profits capital
Paid-up share certificates
Forfeited share account
.
16,485 27
Guaranty fund
Surplus
Interest
Fines
.
Due on uncompleted
Security committee
$225,509 98
* Security Committee.
loans
$179,991 00
16,779 05
21,200 00
497 15
1,111 01
729 72
1,272 41
39 64
3,800 00
90 00
$225,509 98
——
P.D.
8,
Part III.
Membership
Serial Shares
2,399
Issued during year
Withdrawn during year
711
.
New
now pledged
series issued in
Holders
3
6,947
1,182
Forfeited during year
Shares in force
Shares
Members
Members who
674
80
are, borrowers
of:
Unmatured shares
Paid-up share
661
28
certificates
January, April, July, October
Profits Distributed
Unmatured Shares
second term, 114%; third term,
fourth term, V/^%.
A%\
\X
First term,
1H%;
Paid-up Share Certificates
x
third term,
second term, \ /i%;
l%%;
First term,
\M%\
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
63 real estate loans (average, $3,262 each; average rate, 7%): 7%, $205,525.
17 share loans (average, $202 each; average rate, 7%): 7%, $3,436.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Advertising
$402.17
$170.70
1.79
.76
Other
Expenses
$305.77
Total
$878.64
3.91
1.36
BELMONT — WAVERLEY CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: State Street Trust Company, Boston; 261 Belmont Street and 499 Common Street, Belmont.)
Incorporated April
16, 1896.
Began business April
16,
1896
Irving F. Munroe, Treasurer
John P. Bradbury, President
Board of Directors: Samuel Alcock*, W. F. Beetle,
G. O. Gustin, F. H. Kendall, J. R. Logan*, G.
Weymouth, A. D. Whitcomb, U. S. Young.
J.
S.
R. Benton, J. P. Bradbury, A. E. Corbett, J. W. Flett,
Lovejoy, I. F. Munroe, F. E. Poor* A. L. Taylor, G. L.
Regular meeting 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
Banking house
Temporary expense account
Insurance and taxes paid
1928
8,
Liabilities
.
555,350 00
00
00
00
00
1,072 91
383 10
58,810
7.200
500
25,000
Due from
trust companies and na
banks
Cash and cash items
tional
Dues capital
Profits capital
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Interest
Fines
50,471 87
633 90
$1,684,130
390,481
494,000
294,000
57,351
41,561
14,512
269
281
22,790
42
.
Withdrawal profits
Due on uncompleted loans
Security committee
00
82
00
00
75
97
70
55
49
00
50
$2,999,421 78
$2,999,421 78
Membership
Serial Shares
Issued during year
13,979
Withdrawn during year
6,058
Forfeited during year
86
Matured during year
5,659
Shares in force
33,154
Shares now pledged
16,247
New series issued in January, April, July, October.
.
Members
Members who
.
Holders
.
.
are borrowers
.
2,595
.
.
762
.
.
2,236
.
.
.
.
.
'
of:
Unmatured shares
Matured share certificates
.
Paid-up share certificates
372
255
Profits Distributed
First term,
l
A%;
z
Unmatured Shares
\Y%%\ second term, 1%,%
fourth term,
Matured and Paid-up Share
First term,
1M%;
Certificates
second term, 134%; third term,
1H%\ fourth term, 1M%.
25% on series less than 4 years old;
Proportion of profits retained on voluntary withdrawals,
from 4 to 8 years old; after 8 years, none.
* Security
Committee.
third term,
l%%.
12
A% on series
X
—
P.D.
8,
Part
III.
Rates and Averages on Loans
618 real estate loans (average, 14,620 each; average rate, 6%): 6%, $2,855,350.
226 share loans (average, $260 each; average rate, 6%): 6%, $58,810.
33 loans on matured share certificates 6%, $7,200.
1 loan on paid-up share certificates: 6%, $500.
:
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
Other
Expenses
'.8,227.02
M47.65
2.74
.38
$720. 16
.24
$3,656.57
1.22
Total
$13,751.40
4.58
BEVERLY — THE BEVERLY CO-OPERATIVE BANK
Incorporated August 25, 1888.
Began business September
18,
George P. Brown, President
1888
Charles F. Lee, Treasurer
Harrie L. Ober, Assistant Treasurer
Board of Directors: F. E. Alger, G. P. Brown*, R. P. Brown, Samuel Cole, F. I. Cressey, J. F. Hill, C. F. Lee,
Thomas Lund, C. E. Ober, H. L. Ober, R. P. Pope, *John Prince, L. P. Stanton, E. S. Webber*, H. W.
Woodberry.
Regular meeting for receipt of moneys the third 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
Loans on paid-up share certificates
Unpaid fines
Furniture and fixtures
00
00
00
00
70
00
1,051 56
197 38
$3,618,300
71,980
13,490
1,510
198
12,000
.
Temporary expense account
Insurance and taxes paid
Due from
tional
trust companies
16, 1928
.
and na
Dues
capital
Profits capital
$1,993,626
375,635
832,000
366,200
15
70,535
66,726
24,871
5
.
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Transfer fees
-
banks
57,213 30
Withdrawal
297
profits
payable for money borrowed
Due on uncompleted loans
Bills
Personal accounts
27
.
$3,775,940 94
Membership
Issued during year
Forfeited during year
9,798
5,920
128
Matured during year
Shares in force
Shares now pledged
43,307
21,297
New series issued in
10
97
75
02
00
00
80
$3,775,940 94
Serial Shares
Withdrawn during year
30,000
16,000
00
48
00
00
00
82
.
....
Members
Members who
are borrowers
.
3,867
1,313
Unmatured shares
Matured share certificates
.
3,408
671
Holders
929
of:
Paid-up share
339
certificates
March, Septemt er.
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%;
First term,
2Y2 %;
Proportion of profits retained on voluntary withdrawals,
none.
25% on
second term,
Certificates
2%%.
Paid-up Share Certificates
second term, 2 3^%.
series less
than 4 years old; after 4 years,
Rates and Averages on Loans
1,053 real estate loans (average, $3,436 each; average rate, 6%): 53^%, $32,250;
255 share loans (average, $282 each; average rate 6%): 6%, $71,980.
21 loans on matured share certificates : 6%, $13,490.
6 loans on paid-up share certificates : 6%, $1,510.
6%,
$3,586,050.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
19,109.00
1,884. 14
2.41
.50
* Security
Committee.
Advertising
3.37
.11
Other
Expenses
$6,116.09
1.62
Total
$17,515.60
4.64
P.D.
8,
Part III.
BOSTON — THE ANDREW
632
9
SQUARE CO-OPERATIVE BANK
DORCHESTER AVENUE (SOUTH BOSTON DISTRICT)
Incorporated January 23, 1919.
Stanley
W.
Began business April
1919
1,
Chester F. Dlugokecki, Treasurer
Wisnioski, President
Board of Directors: Stefan Blaszkiewicz, Bronislan Czyzewski, C. F. Dlugokecki, Walenty Jaworski, Alexander
Matulewicz, Anthony Nadolny, Joseph Sinkiewicz, Vincent Skonieczny*, John Stemplewski*, Kazimierz
Szpakowski, John Uminski, S. W. Wisnioski, Anthony Zakrzewski, Stanley Zdonek*, H. J. Ziolkowski.
Regular meeting for receipt of moneys the third
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Due from
....
....
trust companies
.
$57,200 00
6,805 00
62 00
and na-
banks
Cash and cash items
tional
1928
Liabilities
Loans on real estate
Loans on shares
Temporary expense account
15,
3,599 87
5,799 04
Dues capital
Profits capital
58,377 00
8,111 58
5,800 00
Paid-up share certificates
Forfeited share account
Guaranty fuud
Surplus
140 61
368 51
263 99
334 37
13 68
25
8 00
47 92
Interest
Fines
.
Transfer fees
Security committee
Overs and shorts
.
$73,465 91
$73,465 91
Membership
Serial Shares
444
Issued during year
Withdrawn during year
528
Forfeited during year
34
Shares in force
1,687
Shares now pledged
571
New series issued in January, April, July, October.
Members
Members who are borrowers
.
.
.
.
202
44
Holders of:—
Unmatured shares
.
Paid-up share certificates
.
.
194
13
Profits Distributed
Shares and Paid-up Share Certificates
First term, 134%; second term, 1J4%; third term,
1H%; fourth term, 1H%TJ matured
Proportion of profits retained on voluntary withdrawals, 25% on series less than 2 years old; after 2 years,
none.
Rates and Averages on Loans
21 real estate loans (average, $2,724 each; average rate, 6%): 6%, $57,200.
23 share loans (average, $296 each; average rate, 6%): 6%, $6,805.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
Advertising
$416.00
5.67
$180.00
2.45
$25.50
Other
Expenses
$67.40
.91
.35
Total
$688.90
9.38
BOSTON — AUSONIA CO-OPERATIVE BANK
44
Incorporated
November
SCHOOL STREET
22, 1923.
Began business November
Lester R. Dingwell, President
Board of Directors: E. A. Bossi,
W.
J.
26, 1923
Leo
J.
S.
Hamburger, Treasurer
A. Bossi, C. C. Clayton, E. L. Deon, L. R. Dingwell, Catherine M. Ford,
S. Hamburger, V. E. Mazzucchelli*, G. S. Parker,
S. Gierasch*, Wellington Glover, J. F. Hamburger, L.
H. Sheeran, Lawrence Varnerin*, Alan White.
Regular meeting for receipt of moneys the fourth
* Security Committee.
Monday
of each
month.
10
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
....
....
$44,700 00
4,045 00
100 00
Dues
capital
Profits capital
Paid-up share
Forfeited share account
3,395 81
$43,647 00
4,136 44
1,800 00
307 00
297 88
529 99
1,500 00
certificates
....
.
Guaranty fund
Surplus
Bills payable for money borrowed
Dividends on paid-up share certifi
cates
.
.
22 50
.
$52,240 81
$52,240 81
Membership
Serial Shares
Issued during year
281
164
40
Withdrawn during year
New
series issued in
III.
Liabilities
Loans on real estate
Loans on shares
Furniture and fixtures
Due from trust companies and national banks
Forfeited during year
Shares in force
Shares now pledged
Part
22, 1928
1,414
420
February, May, August, No-
Members
Members who
.
Holders
of:
—
.
124
27
.
are borrowers
Unmatured shares
124
Paid-up share certificates
vember.
3
Profits Distributed
Unmatured Shares and Paid-up Share
134%;
First term,
third term,
Certificates
2}4%; fourth term,
1M%.
Proportion of profits retained on voluntary withdrawals, 20%.
Rates and Averages on Loans
16 real estate loans (average, $2,794 each; average rate, 6%): 6%, $44,700.
18 share loans (average, $225 each; average rate, 6%): 6%, $4,045.
Total Expenses for Year
Rent
Salaries
Other
Expenses
$112.55
2.16
Advertising
Amount paid
Cost
for
per $1,000 of assets
Total
$112.55
2.16
BOSTON — BACK BAY CO-OPERATIVE BANK
146
SUMMER STREET
(Other authorized locations for receipt of moneys: 222 Boylston Street and 83 Massachusetts
Avenue, Boston)
Incorporated
March
18, 1919.
Began business April
1,
1919
Hugh
Allen Curtis, President
James E. Tonry,
P. Duffill, Treasurer
Assistant Treasurer
of Directors: Allen Curtis*, E. L. Davis*, H. P. Duffill, W. A. Fleming, G. F. Garrity* S. F. Hyland,
G. E. Irving, E. C. Jessup, G. N. Jones, H. R. Lowd*, J. B. Otterson, Samuel Russell, E. H. Scheid*,
F. W. Sears, J. E. Tonry.
Board
Regular meeting 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
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
Furniture and fixtures
Temporary expense account
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
.
.
10, 1928
Liabilities
,097,940
25,944
3,400
30,539
2,585
1,500
00
00
00
52
00
00
688 91
7 95
54,300 43
1,627 35
Dues capital
Profits capital
$839,525
208,907
115,200
55
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
.
6,317
6,697
6,434
Interest
210
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Personal accounts
Other liabilities
Dividends on paid-up share
97
28,620
5,001
.
cates
$1,218,533 16
* Security Committee.
25
00
12
00
00
91
65
94
43
25
86
50
50
00
certifi
certifi-
1,440 00
$1,218,533 16
——
P.D.
8,
Part III.
11
Membership
Serial Shares
Members
Members who
Issued during year
7,449
2,277
Forfeited during year
190
Shares in force
14,724
Shares now pledged
6,201
New series issued in January, April, July, October.
Withdrawn during year
.
Holders
1,106
are borrowers
.
.
272
.
.
1,030
.
.
85
of:
Unmatured shares
.
Paid-up share certificates
Profits Distributed
Unmatured Shares
1J^%; second term, 1^%;
First term,
1H%5
Paid-up Share
215
real estate loans
Certificates
First term,
\\i%; second term, 1J4%;
1H%\
1M%-
fourth term,
Proportion of profits retained on voluntary withdrawals, 20% on series
none.
third term,
IV2 %.
fourth term,
third term,
than 5 years old; after 5 years,
less
Rates and Averages on Loans
average rate, 6.49%): 6%, $36,300; 63^%, $1,048,790; 7%.
(average, $5,107 each;
$12 850
57 share loans (average, $455 each; average
rate,
6.44%): 6%, $2,944;
6H%,
7%,
$22,970;
$30.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$3,339.00
2.74
.
Other
Expenses
Advertising
$614.17
$501.18
.50
.41
Total
$1,413.02
1.16
5,867.37
4.81
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 Summer Street Branch National Shawmut Bank, Boston
Incorporated January
5,
1921.
Began business January
17,
Bank
of
1921
Edward Fruh,
Harold R. Duffie, President
Treasurer
of Directors: J. S. Adie, J. E. Aitken, J. H. Braley, L. S. Breed, T. P. Buckley, A. W. Clark, J. H. Dearborn, L. J. Dickey, H. R. Duffie, Richard Duffie* Frank East, R. T. Fowler*, Albert Fruh, Edward Fruh,
C. H. Gilman, J. M. Graham, J. F. Henderson, J. T. Hosford* P. E. Maw, G. C. McClellan, T. J. McLaughlin, W. R. Messer, J. H. Mulhern, F. H. Newton, C. A. Noyes, J. A. Price, A. J. Robinson, F. T.
Board
Towle,
J. J.
Vogel,
I.
H. Ward,
J.
A. Whittemore,
Jr.,
G.
S.
Williams, R. G. Wilson, Jr.
Regular meeting 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
Due from trust companies and national banks
Cash and cash items
.
.
15, 1928
Liabilities
.
.
.
.
.
,
$483,800 00
17,331 00
133 04
7,453 64
30 02
Dues capital
Profits capital
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
.
Withdrawal
profits
Bills payable for money
Due on uncompleted
borrowed
loans
Security committee
$378,880
57,055
49,800
239
3,972
3,745
2,472
30
122
10,000
2,350
80
00
46
00
00
30
75
17
87
15
00
00
00
$508,747 70
$508,747 70
Membership
Serial Shares
Issued during year
2,283
Withdrawn during year
1,875
Shares in force
9,722
Shares now pledged
3,044
New series issued in January, April, July, October.
....
Members
Members who
Holders
703
158
are borrowers
of:
Unmatured shares
687
39
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
1H%;
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
5 years, none.
* Security
Committee.
\%%;
second term,
fourth term,
1%%.
1%%;
third term,
Paid-up Share Certificates
x
third term,
second term, \ /i%\
1M%;
fourth term,
20% on
\H%.
series less
than 5 years old, after
—
P.D.
12
Part
8,
III.
Rates and Averages on Loans
102 real estate loans (average, $4,743 each; average rate, 6%): 6%, $483,800.
56 share loans (average, $309 each; average rate, 6%): 6%, $17,331.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
;i,
.
170.00
2.30
Rent
Other
Expenses
$722.83
Advertising
$468.46
$75.60
.92
.15
Total
2,436.89
4.80
1.43
BOSTON — BOSTON CO-OPERATIVE BANK
53
STATE STREET
Main
(Other authorized location for receipt of moneys: 529
Incorporated April 30, 1888.
Harry H.
May
Began business
Street, Charlestown)
1888
2,
Herbert F. Taylor,
Hill, President
Jr.,
Treasurer
Board of Directors: W. L. Baker, R. I. Carney*, W. E. Cunningham*, H. B. Estabrook, Ferdinand Gianfranchi, H. H. Hill, J. R. Hope, C. H. Johnson*, W. L. Kelt, W. H. Neaves, A. W. Quennell, H. F.
Taylor, Jr.*.
Regular meeting for the receipt of moneys the
Monday
first
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
Bonds and notes
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Furniture and fixtures
Insurance and taxes paid
.
.
Personal accounts
Due from
.
trust companies
$6,850,950 00
103,430 00
23,180 00
Dues
capital
Profits capital
Paid-up
71,782 11
26,000 00
1,500 00
1,500 00
991 46
220 50
Surplus
Forfeited share account
....
.
Guaranty fund
Due on uncompleted
loans
Other liabilities
Dividends on matured share
.....
.....
ficates
certi-
Dividends on paid-up share
ficates
5,747 50
$7,300,135 17
Membership
Seria Shares
....
I
Issued during year
17,008
12,616
141
3,617
73,244
39,823
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
February,
40,988 75
certi-
$7,300,135 17
series issued in
22
00
00
30
87
53
00
704 00
580,852
2,981,000
459,800
5,179
114,705
51,545
36,860
certificates
share certificates
104,800 52
19,321 03
.
53,022.752 00
Matured share
970 00
80,989 55
14,500 00
and na-
tional banks
Cash and cash items
New
1928
1,
Liabilities
May
Members
Members who
Holders
6,784
1,632
are borrowers
of:
Unmatured shares
Matured share certificates
Paid-up share
4,399
2,181
.
369
certificates
August, No-
vember.
Profits Distributed
Unmatured Shares
second term,
fourth term, F,f6 %.
First term,
1 7/16
%;
l 7/ie%;
Matured Share
First term,
1H%;
1
Y%%
\
First term,
1M%;
third term,
Certificates
second term,
fourth term,
l 7/i6%;
1
%%
',
third term,
1%%.
Paid-up Share Certificates
second term, 13^%; third term,
1M%;
fourth term,
1M%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1
A%,
,347 real estate loans (average, $5,086 each; average rate, 6.04%) 5%, $51,850; 5K%, $4,000; b l
$9,200;
5M%, $8,000; 6%, $5,958,575; 6M%, $80,250; 6H%, $736,575; 6M%, $2,500.
278 share loans (average, $372 each; average rate, 6.02%): 6%, $99,970; 634%, $50; 6J^%, $2,070; 6M%,
$300; 7%, $850; 7^%, $100; 7%%, $90.
28 loans on matured share certificates : 6%, $23,180.
8 loans on paid-up share certificates : 6%, $970.
:
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$16,834.18
2.30
Rent
Advertising
$5,152.21
$1,668.74
.23
* Security Committee.
.71
Other
Expenses
$14,930.14
2.05
Total
$38,585.27
5.29
—
P.D.
8,
Part
III.
13
BOSTON — BRIGHTON CO-OPERATIVE BANK
BRIGHTON AVENUE (ALLSTON DISTRICT)
157
(Other authorized locations for receipt of moneys: 341 and 581 Washington Street, Brighton)
Incorporated
May
20, 1911.
Began business
May
22, 1911
James H. Dalton, Treasurer
James T. Knowles, President
Board of Directors: T. H. Connelly, J. H. Dalton, W. L. Durla.nd, J. H. Fitzpatrick, W. S. Fuller, Martin
Hays, J. T. Knowles*, G. H. McDermott, Assad Mudarri, H. K. Newhall, W. H. Parker*, Lee Rogers,
W. H. Short, P. T. Sprague, D. H. Stewart, H. M. Thompson* N. S. Waite, D. H. Wells.
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
10, 1928
Liabilities
....
....
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Furniture and fixtures
Due from trust companies and national banks
Cash and cash items
.
$1,426,550
59,776
2,085
5,789
4,820
00
00
00
56
Dues capital
Profits capital
16
Forfeited share account
.
.
.
.
Paid-up
certificates
share certificates
Guaranty fund
71,388 96
288 40
$926,129
173,177
274,200
155,200
355
.
Matured share
Surplus
.
14,912 19
10,217 42
11,245 00
.
.
Due on uncompleted
loans
Dividends on matured share
cates
certifi-
3,296 57
.
.
Dividends on paid-up share
certifi-
1,965 00
cates
$1,570,698 08
$1,570,698 08
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
.
.
.
.
.
.
7,712
3,952
62
1,776
21,177
8,769
...
.
00
87
00
00
03
.
.
.
.
.
.
.
.
.
....
Members
Members who
Holders
1,586
408
are borrowers
of:
Unmatured shares
Matured share certificates
Paid-up share
1,492
209
137
.
certificates
May, August, No-
vember.
Profits Distributed
First term,
Unmatured Shares
/%%\ second term, 1%%; third term,
\ %
1%%.
lVs%; fourth term,
Matured and Paid-up Share
First term,
Proportion of profits retained on voluntary withdrawals,
none.
1M%;
25% on
Certificates
134%; second term, 1J4%;
fourth term,
series less
third term,
1M%.
than 5 years old; after 5 years,
Rates and Averages on Loans
6%) 6%, $1,415,150; 7%, $11,400.
6%, $59,776.
271 real estate loans (average,
,264 each; average rate,
133 share loans (average, $449 each; average rate, 6%)
4- loans on matured share certificates :
6%, $2,085.
:
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
.
$3,547.66
2.26
$2,871.50
1.83
$197.40
Other
Expenses
$1,312.45
.13
.84
Advertising
Total
$7,929.01
5.06
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.
Began business September
Albert S. Apsey, President
14,
1
Court Street,
1920
Warren
F. Freeman, Treasurer
Board of Directors: C. R. Adams*, A. S. Apsey, G. W. Apsey, R. G. Boyd, W. F. Burnham, D. B. Church*,
M. J. Coleman, H. H. Davenport, W. S. Felton, W. T. A. Fitzgerald, W. F. Freeman*, W. F. Freeman,
Jr.*, L. L. Green, J. M. I,. Groby, A. N. Hederstedt, Clement Hernandez, J. G. Hickey, W. H. Keyes*,
G. D. Kimball* E. C. Mansfield, J. J. Martin, John McCloskey, E. A. Merriam, J. C. Percival, Bowen
Tufts, John Turner, D. R. Weedon.
Regular meeting for receipt of moneys the second Tuesday of each month.
* Security Committee.
—
P.D.
14
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
$239,100 00
4,235 00
10,000 00
4,805 00
60 00
601 03
.
Common
form mortgages
Furniture and fixtures
Temporary expense account
Due from trust companies and
banks
tional
1928
Liabilities
Loans on real estate
Loans on shares
Bonds and notes
Part III.
8,
9,
14,315 37
Dues capital
Profits capital
....
....
.....
Interest
Fines
Transfer fees
$273,116 40
Issued during year
Membership
New
1,338
....
.
.
.
.
series issued in
.
-
.
.
61
$273,116 40
Serial Shares
Shares in force
Shares now pledged
58
00
38
91
07
80
8 05
3,900 00
30 00
Withdrawal profits
Due on uncompleted loans
Security committee
Withdrawn during year
00
$195,354
34,836
26,600
3,409
6,197
2,702
77
Paid-up share certificates
Guaranty fund
Surplus
775
.
4,286
1,344
.
Members
Members who are borrowers
Holders
289
57
of:
Unmatured shares
March, June, September, De-
Paid-up share
271
28
certificates
cember.
Profits Distributed
First term,
l%%\
Unmatured Shares
second term, \Y%%\ third term,
1%%;
fourth term,
l%%.
Paid-up Share Certificates
First term, 134%; second term, 1J4%; third term,
1H%;
Proportion of profits retained on voluntary withdrawals,
none.
49
20%
on
fourth term,
series less
1M%-
than 5 years old; after 5 years,
Rates and Averages on Loans
average rate, 6.21%): 6%, $138,850; 6J^%, $100,250.
$385 each; average rate, 6.30%): 6%, $1,885; 6^%, $2,350.
real estate loans (average, $4,880 each;
11 share loans (average,
Total Expenses for Year
Rent
Advertising
$600.00
2.20
$51. #0
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,670.00
6.11
.
Other
Expenses
$444.22
Total
2,765.82
10.13
1.63
.19
BOSTON — CHARLESTOWN CO-OPERATIVE BANK
9
CITY SQUARE (CHARLESTOWN DISTRICT)
Incorporated April 30, 1913.
Began business June
7,
1913
John Burke, Treasurer
S. Sullivan, President
Charles
J. L. Bowen*, Angela R. Buckley, John Burke, J. A. Carroll, P. P. Coluci, J. J. Crowley,
Curran, A. J. Douglas*, H. M. Dowd, M. C. Greeley, J. J. Harrington, C. E. Herlihy, P. H. McCormack*, D. J. McGillicuddy, P. C. McMahon, C. S. Sullivan, Elizabeth V. Sullivan, J. H. Wilson.
Board of Directors:
J. F.
Regular meeting for receipt
of
moneys the
first
Saturday 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
Bonds and notes
.
.
Due from
tional
trust companies
banks
.
....
....
Temporary expense account
6,
1928
Liabilities
.
.
$487,925 00
9,125 00
300 00
1,620 00
550 00
548 10
and na-
Dues
$302,903
58,413
59,400
53,200
414
capital
Profits capital
.
Matured share
Paid-up
certificates
share certificates
Forfeited share account
.
Guaranty fund
7,590
19,459
6,150
Surplus
8,021 61
Interest
276
Fines
Transfer fees
.
Withdrawal profits
Security committee
Dividends on matured share
99 13
127 50
certifi-
4 86
cates
Dividends on paid-up share
cates
Overs and shorts
$508,089 71
* Security Committee.
00
78
00
00
00
94
88
23
37
25
.
certifi-
7 02
42 75
$508,089 71
—
P.D.
8,
15
Part III.
Membership
Serial Shares
Issued during year
Withdrawn during year
1,867
1,213
61
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
123
7,058
2,534
.....
Members
Members who
Holders
are borrowers
666
196
.
.
.
.
.
.
.
.
of:
Unmatured shares
Matured share certificates
.
Paid-up share certificates
593
45
41
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term,
1H%;
1M%;
second term, 23/2%; third term,
fourth term,
lV2 %.
Matured Share
Certificates
1K%;
second term, 13^%; third term,
fourth term, 1%%-
First term,
1X%;
First term,
1H%;
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
fourth term,
1M%-
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
6H%,
171 real estate loans (average, $2,853 each; average rate, 6.47%): 6%, $22,400;
33 shareloans (average, $276 each; average rate, 6}^%): QH%, $9,125.
1 loan on matured share certificate: 6J^%, $300.
8 loans on paid-up share certificates : 6^2%, $1,620.
$465,525.
Total Expenses for Year
Salaries
Amount paid
Cost
$1,438.00
2.83
for
per $1,000 of assets
.
Other
Expenses
Rent
Advertising
5245.30
.48
$285.24
>1,243.65
5,212.19
.56
2.44
6.31
Total
BOSTON — CODMAN CO-OPERATIVE BANK
563A
WASHINGTON STREET (DORCHESTER DISTRICT)
(Other authorized locations for receipt of moneys: First National Bank, 1440 Dorchester Avenue
and 555 Columbia Road, Dorchester; 417 Washington Street, Boston)
Incorporated June
Henry
S.
15, 1920.
Began business June
16,
1920
Thomas
Clark, President
Leavitt, Treasurer
Board of Directors: J. A. Anderson, T. H. Bilodeau, F. L. Brier*, H. S. Clark*, 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, F. M. Weymouth.
Regular meeting for receipt of moneys the third Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
17,
1928
Liabilities
....
....
Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Furniture and fixtures
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
.
$525,750 00
13,134 00
6,562 65
226 90
823 36
2,080 49
4,644 51
Dues capital
Profits capital
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
Withdrawal
$553,221 91
* Security Committee.
profits
$413,507
65,275
52,200
528
5,111
10,646
5,581
122
249
00
18
00
40
34
43
44
50
25
37
$553,221 91
—
-
P.D.
16
Issued during year
Withdrawn during year
New
Members
Members who
2,892
2,064
.
Forfeited during year
Shares in force
Shares
8,
Part
III.
Membership
Serial Shares
Holders
49
of:
Unmatured shares
10,054
3,261
now pledged
932
178
are borrowers
896
64
Paid-up share certificates
March, June, September, De-
series issued in
cember.
Profits Distributed
Unmatured Shares
1%%;
First term,
1V8 %;
second term,
fourth term,
l%%.
Paid-up Share
1%%;
Certificates
V/i%; second term, 1J4%;
fourth term, \\i%.
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
20%
on
series less
third term,
third term,
than 6 years old; after 6 years, none.
Rates and Averages on Loans
122 real estate loans (average, $4,309 each; average rate, 6.50%): 6^%, $525,750.
56 share loans (average, $235 each; average rate, 6.50%): 63^%, $13,134.
Total Expenses for Year
Amount
$2,364.50
4.27
paid for
Cost per $1,000 of assets
.
Other
Expenses
Rent
Advertising
$586.06
1.06
$395.40
51,073.82
1,419.78
.72
1.94
7.99
Salaries
Total
BOSTON — THE COMMONWEALTH CO-OPERATIVE BANK
Room
233 State
Incorporated October 25, 1927.
House
Began business January
10,
1928
Arthur E. Hoyt, Treasurer
Alexander Holmes, President
Board of Directors: C. H. Adams*, J. B. Baxter*, P. F. J. Carney*, R. K. Conant, C. H. Cox, A. W. Dean,
A. W. Gilbert, Alexander Holmes, A. E. Hoyt, W. A. Merrill*, W. E. Monk, E. H. Redstone* G. L. Rogers,
E. L. Sweetser, M. F. Weston.
Regular meeting for receipt of moneys the second Tuesday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
*
Loans on real estate
Loans on shares
Furniture and fixtures
Due from trust companies and national banks
Cash and cash items
.
.
.
.
....
.
$18,800 00
110 00
332 79
Dues capital
Profits capital
Surplus
19,894 66
90 20
Interest
Fines
.
profits
$39,227 65
$39,227 65
Membership
Serial Shares
.
.
.
4,437
Withdrawn during year
.
.
.
249
Shares in force
Shares now pledged
.
New
1928
$38,624 00
424 56
24 04
20 50
116 55
13 07
4 93
Guaranty fund
Withdrawal
Issued during year
9,
Liabilities
Assets
....
4,188
115
October.
series issued in January, April, July,
.
.
Members
Members who
Holders of: —
617
are borrowers
6
Unmatured shares
617
Profits Distributed
First term,
Unmatured Shares
.75%; second term, .75%; third term,
.75%.
Proportion of profits retained on voluntary withdrawals,
20% on series less than 5 years old;
Rates and Averages on Loans
5 real estate loans (average, $3,760 each; average rate, 6%): 6%, $18,800.
1 share loan (average, $110 each; average rate, 6%): 6%, $110.
* Security Committee.
after 5 years, none.
P.D.
8,
Part
17
III.
Total Expenses for Year
Rent
Salaries
Amount
Other
Expenses
$39.92
vertising
$28.80
paid for
Cost per $1,000 of assets
.
1.02
.73
BOSTON
— CONGRESS
80
Total
$68.72
1.75
CO-OPERATIVE BANK
FEDERAL STREET
(Other authorized location for receipt of moneys: Exchange Trust Company, 124 Boylston Street,
Boston)
Incorporated August
4,
1924.
Began business August
1924
11,
Arnold
Nicholas E. Peterson, President
Mary
S.
S. Potter,
Treasurer
Blakney, Assistant Treasurer
Board of Directors: W. B. Alexander, David Black*, Peter Boltz, Allan Brooks, D. L. Brown, J. F. Crowley,
H. E. Cryan, G. R. Ericson, A. B. Fletcher, G. W. Foster*, W. H. Haker, T. F. Lyons, N. E. Peterson*
A. S. Potter, James Reid, R. M. Sanders, A. J. C. Underhill, D. C. White*.
Monday
Regular meeting for receipt of moneys the second
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
$405,700 00
15,395 00
300 00
8,319 39
512 16
904 58
.
Personal accounts
Due from
tional
.
trust companies
and na
banks
Cash and cash items
.
15,632 07
100 00
-
Dues capital
Profits capital
Paid-up share
$333,001 00
31,743 98
43,800 00
297 72
2,385 35
3,924 70
28,000 00
2,275 00
887 95
certificates
Forfeited share account
.
Guaranty fund
Surplus
Bills payable for
.
.
"
.
.
money borrowed
Due on uncompleted loans
Personal accounts
Dividends on paid-up share
.
cates
certifi
547 50
.
$446,863 20
$446,863 20
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New series issued in February,
.
.
.
.
.
.
4,234
4,228
126
12,423
2,985
...
....
.
.
1928
Liabilities
,
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Furniture and fixtures
8,
.
Members
Members who are borrowers
Holders
of:
952
138
—
Unmatured shares
923
49
Paid-up share certificates
May, August, No-
vember.
Profits Distributed
Unmatured Shares
First term,
1%%;
second term,
1%,%; fourth term,
Paid-up Share
First term,
1M%;
third term,
Certificates
1J4%; second term,
fourth term,
l%%\
1%%.
1M%;
third term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
86
real estate loans (average,
,717 each;
average rate, 6.20%):
$8,000; 7%, $26,900.
52 share loans (average, $296 each; average rate, 6.14%):
1 loan on paid-up share certificate: 63^%, $300.
6%,
6%,
1,285;
$92,600;
6K%,
6M%,
6J^%, $278,200;
$1,865;
7%,
$2,245.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$1,807.00
4.04
Other
Expenses
Rent
Advertising
1,138.42
$240.60
5.85
1,021.87
2.54
.54
1.87
8.99
* Security Committee.
Total
—
18
BOSTON — THE
P.D.
8,
Part
50
STATE STREET
Uphams
(Other authorized locations for the receipt of moneys: Blue Hill National Bank, Milton;
Corner and Fields Corner Branches of First National Bank, Boston)
Incorporated August 21, 1890.
Walter
S.
III.
DORCHESTER CO-OPERATIVE BANK
Began business September
1890
10,
Pinckney Holbrook, Treasurer
Fox, President
Elizabeth R. Parker, Assistant Treasurer
Board of Directors: Asaph Churchill*, W. S. Fox*, I. C. Hersey, Pinckney Holbrook*, E. E. Jobling, Edward
Lanning, R. D. Mossman*. G. S. Parker, J. H. Pierce, N. W. Robinson*, C. W. Rollins, John Talbot*.
Regular meeting for receipt of moneys the second 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
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
Loans
Loans
Loans
Loans
.
.
'
10, 1928
Liabilities
,939,954 00
29,598 00
2,300 00
1,100 00
1,998 23
294 90
Dues capital
Profits capital
$1,130,489
211,683
417,400
185,800
34
5,436
43,174
16,320
20,390
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Matured share account
Guaranty fund
61,862 85
412 70
Surplus
Interest
Fines
324
265
.
Withdrawal profits
Due on uncompleted loans
Security committee
6,159
45
$2,037,520 68
Issued during year
Membership
5,067
4,183
89
657
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
18
00
00
00
33
00
25
02
22
64
04
00
$2,037,520 68
Serial Shares
Withdrawn during year
00
.....
Members
Members who
Holders
631
of:
Unmatured shares
Matured share certificates
23,970
10,791
1,971
are borrowers
Paid-up share
1,791
327
.
141
certificates
March, June, September, De-
cember.
Profits Distributed
First term,
1^%;
Unmatured Shares
second term, \Y%%; third term,
1%%;
fourth term,
l%%.
Matured and Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
20%
on
1J4%; second term,
fourth term,
series less
1M%.
Certificates
1M%;
third term,
than 4 years old; after 4 years,
Rates and Averages on Loans
556 real estate loans (average, $3,489 each; average rate, 5.99%): 5*4%, $35,695; 6%, $1,904,259.
67 share loans (average, $442 each; average rate, 6%): 6%, $29,598.
6 loa?is on matured share certificates : 6%, $2,300.
2 loans on paid-up share certificates : 6%, $1,100.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
7,839.17
L.424. 13
$210.00
3.85
.70
.10
Other
Expenses
$2,178.30
1.07
Total
$11,651.60
5.72
BOSTON — THE 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
John C. L. Dowling, Treasurer
Daniel F. Sennott, President
of Directors: J. B. Casey, J. B. Cassidy, F. W. Christopher, D. A. Cohen, R. V. Coleman*, J. W. Crowley*, T. J. Cudmore, J. C. L. Dowling, Frank Imhoff *, Percy Loring*, J. D. Lucas, F. J. Nash, P. N. Petrocelli, A. J. Post, D. F. Sennott*, F. F. Vogel.
Board
Regular meeting for receipt of moneys second
* Security
Committee.
Monday
of each
month.
—
P.D.
8,
Part III.
19
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Real estate by foreclosure,
Furniture and fixtures
1928
Liabilities
Dues capital
Profits capital
00
00
40
00
79
10 42
87 94
17 20
$350,800
8,945
33
350
406
etc.
Temporary expense account
Insurance and taxes paid
8,
....
.
Other assets
Overs and shorts
Due from trust companies and national banks
Cash and cash items
.
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
.
Interest
Fines
Transfer fees
Bills payable for
.
27,085 74
10 00
68
00
61
70
26
51
91
25
money borrowed
Due on uncompleted
9,000 00
loans
500 00
Security committee
Other
00
$276,638
37,641
36,600
426
2,894
3,237
709
71
22 19
4 38
liabilities
$367,746 49
$367,746 49
Membership
Serial Shares
....
Members
Members who are borrowers
Issued during year
1,823
Withdrawn during year
1.922
Forfeited during year
101
Shares in force
7,119
Shares now pledged
2,368
New series issued in January, April, July, October
.
Holders
659
110
of:
Unmatured shares
627
Paid-up share certificates
31
Profits Distributed
Unmatured Shares
First term,
1H%;
1%%;
second term,
fourth term,
1%%.
Paid-up Share
1%%;
Certificates
First term,
134%; second term, 1}4%)
1%%;
1^%.
fourth term,
third term,
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
83 real estate loans (average, $4,226 each; average rate, 6.50%): 6}4%, $350,800.
23 share loans (average, $389 each; average rate, 6.50%): 6%, $100; 6J^%, $8,845.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$2,200.00
5.98
.
BOSTON
— EDWARD
699
Rent
Advertising
$572.53
1.55
Other
Expenses
$733.56
Total
5,506.09
9.52
1.99
EVERETT CO-OPERATIVE BANK
COLUMBIA ROAD (DORCHESTER DISTRICT)
Incorporated August
11, 1916.
Began business September
George V. Wattendorf, President
14,
1916
Joseph H. Liverman, Treasurer
Board of Directors: G. C. Ambrose, J. D. Diggin, N. C. Fielding, P. C. Frisbie, P. F. Gallahue*, Maurice Garfink, J. H. Liverman, J. J. McGrail, J. J. Meade, M. J. Norton*, W. L. Norton*, C. H. O'Connor, F. M.
Wattendorf, G. V. Wattendorf*, J. A. Williamson.*
Regular meeting for receipt of moneys the second Thursday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
11,
1928
Liabilities
....
....
Loans on real estate
Loans on shares
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
$329,350 00
12,150 00
245 90
Dues capital
Profits capital
Matured share
Paid-up share
10,078 90
1,000 93
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
.
Withdrawal profits
Security committee
4,321
7,116
3,107
83
98
37
00
52
00
00
00
72
52
92
08
47
50
$352,825 73
$352,825 73
* Security
$197,932
34,231
72,400
33,400
97
Committee.
—
.
P.D.
Membership
20
Serial Shares
Issued during year
1,079
Withdrawn during year
Matured during year
727
407
.
Shares in force
Shares now pledged
New
Members
Members who
series issued in
March, June, September, De-
Part
III.
are borrowers
460
106
Unmatured shares
Matured share certificates
413
Holders
4,687
2,142
8,
of:
Paid-up share
21
26
certificates
cember.
Profits Distributed
Unmatured Shares
l%%\
First term,
1H%;
Proportion of profits
1X%;
25% on
1%%.
1%%;
third term,
Paid-up Share Certificates
second term, 134%; third term,
1M%;
First term,
retained on voluntary withdrawals,
second term,
fourth term,
fourth term,
series less
1M%.
than 6 years old; after 6 years,
none.
Rates and Averages on Loans
6.04%): 6%, $317,050; 7%, $12,300.
6%, $12,150.
71 real estate loans (average, $4,639 each; average rate,
86 share loans (average, $347 each; average rate, 6%):
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$780.00
2.21
$302.72
$36.23
Other
Expenses
$415.82
1.18
.10
Total
1,534.77
4.35
BOSTON — ENTERPRISE CO-OPERATIVE BANK
MERIDIAN STREET (EAST BOSTON DISTRICT)
271
Incorporated
Eben Hutchinson,
March
31, 1888.
Began business April
3,
1888
Robert F. Jordan, Treasurer
President
Board of Directors: H. P. Abbott*, H. E. Bragdon, W. E. Carsley, W. E. Foster, N. W. Gifford, R. J. Gove,
F. P. Gurney, E. S. Haskell, F. A. Healey, Eben Hutchinson, R. F. Jordan*, W. T. Keough, John Marno*,
C. H. Packard, W. C. Smith.
Regular meeting for receipt of moneys the third Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Liabilities
....
Loans on real estate
Loans on shares
Temporary expense account
,201,675 00
77,850 00
393 89
Insurance and taxes paid
Due from
trust
...
402 08
companies and na-
banks
Cash and cash items
tional
.
17, 1928
.
.
107,073 74
5,033 41
Dues capital
Profits capital
Matured share
$1,746,416
413,803
134,200
4
1,005
53,100
30,323
11,694
certificates
Forfeited share account
Matured share account
.
....
....
.....
.
Guaranty fund
Surplus
Interest
Fines
Transfer fees
220
Withdrawal profits
Due on uncompleted loans
Security committee
343
2
1,300
14
$2,392,428 12
Issued during year
Matured during year
Shares in force
Shares now pledged
New
series issued in April,
70
00
70
55
38
25
02
00
96
Membership
5,328
3,021
5
1,341
31,628
14,632
Forfeited during year
00
$2,392,428 12
Serial Shares
Withdrawn during year
00
56
00
.....
Members
Members who
Holders
are borrowers
2,456
.
904
.
2,419
102
of:
Unmatured shares
Matured share certificates
October
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2Y2 %;
term,
Matured Share
Certificates
second term,
Proportion of profits retained on voluntary withdrawals, 25%.
* Security Committee.
3%.
2Y2 %.
P.D.
8,
21
Part III.
Rates and Averages on Loans
818 real estate loans (average, $2,692 each; average rate, 6%): 6%, $2,201,675.
356 share loans (average, $219 each; average rate, 6%): 6%, $77,850.
Total Expenses for Year
Rent
Advertising
$6,746 00
$739.22
$433.00
2.82
.31
.18
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
$2,504.99
1.05
Total
$10,423.21
4.36
BOSTON — EUREKA CO-OPERATIVE BANK
TREMONT STREET
936
(Other authorized location for receipt of moneys: 559 Massachusetts Avenue, Cambridge)
Incorporated August
2,
1910.
Began business September
1,
1910
David E. Crawford, Treasurer
Robert A. Simmons, President
Board of Directors: D. E. Crawford*,
J.
O. Credle*, Walter Foster,
Shelton*, R. A. Simmons*.
Regular meeting for receipt of moneys the
W.
Heminway, Zaeheus Layne,
O.
Monday
first
of each
Lia
....
....
Loans on real estate
Loans on shares
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
.
.
.
.
.
.
$19,500 00
2,312 75
46 81
.
1,
00
27
00
00
83
48
44
09
90
48
1 76
63 77
$13,721
2,626
2,000
2,600
751
107
779
627
180
2
capital
Profits capital
Matured share
certificates
certificates
1,226 63
Forfeited share account
375 83
Matured share account
Guaranty fund
.
Surplus
Interest
Fines
.
Withdrawal
profits
Personal accounts
.
$23,462 02
$23,462 02
Membership
Serial Shares
Issued during year
I Withdrawn during year
Matured during year
| Shares in force
Shares now pledged
Ill
141
4
it
|
New
series issued in
1928
ailities
Dues
Paid-up share
P.
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
J.
....
—
Members
Members who
are borrowers
.
67
31
Unmatured shares
Matured share certificates
.
63
2
Holders
349
215
March, September.
of:
Paid-up share
3
certifica tes
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
€Ttziicctt€s
First term,
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
2>6%; second term, 2}4%.
series less
than 5 years old; after 5 years,
Rates and Averages on Loans
14 real
estate loans (average,
7%,
$1,393 each; average rate, 5.98%):
5H%,
$3,000;
6%, $14,900;
6%%,
$1,000;
$600.
17 share loans (average, $136 each; average rate, 6%): 6%, $2,313.
Total Expenses for Year
Salaries
Amount
Rent
paid for
Cost per $1,000 of assets
vertising
$40.00
1.74
.
* Security
Committee.
Other
Expenses
$213.21
9.27
Total
$253.21
11.01
—
22
P.D.
BOSTON — FANEUIL CO-OPERATIVE BANK
598
8,
Part
III.
WASHINGTON STREET (BRIGHTON DISTRICT)
(Other authorized locations for receipt of moneys: 195 Massachusetts Avenue, Boston; Bank of
Commerce and Trust Co., 21 Milk Street, Boston)
Incorporated April 10, 1916.
Began business
May
9,
1916
Thomas King,
Frederick T. Conley, President
Board
Treasurer
L. M. Birmingham, F. T. Conley, P. J. Donaghue, P. J. Donnellan*, A. R. Frost*, F. F.
Henderson, Thomas King*, J. F. Kinney*, F. L. Maguire, Donato Pellegrini, H. L. Young*.
of Directors:
Regular meeting for receipt of moneys the second Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
9,
....
....
Loans on real estate
Loans on shares
Due from trust companies and national banks
Cash and cash items
$217,778 00
7,525 00
....
....
Dues capital
Profits capital
Matured share
3,236 11
361 15
Paid-up
$137,914
25,614
25,200
15,400
certificates
share certificates
Forfeited share account
.
Guaranty fund
.
1,109
2,440
6,775
12,000
.....
.....
.....
.
.
Surplus
Bills payable for
money borrowed
Due on uncompleted loans
.
1,881
Security committee
Dividends on matured share
cates
cates
24
342 16
certifi-
197 96
$228,900 26
$228,900 26
Membership
Serial Shares
Issued during year
1,139
670
145
.
Shares in force
Shares now pledged
New
Members
Members who
Holders
series issued in
289
are borrowers
.
February, May, August, No-
.
.
.
.
.
.
81
of:
Unmatured shares
Matured share certificates
3,421
1,470
.
00
81
00
00
63
67
50
00
53
00
certifi-
Dividends on paid-up share
Withdrawn during year
Matured during year
1928
Liabilities
Paid-up share
certificates
.
263
23
21
vember.
Profits Distributed
Unmatured Shares
second term, V/(6 %;
F/i6%; fourth term, V/vtfo.
First term, V/{6 %;
third term,
Matured Share Certificates
Third term, lVf6
fourth term, l 7/fe%-
%
First term,
1H%;
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
;
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
fourth term,
series less
1M%-
than 6 years old; after 6 years,
Rates and Averages on Loans
63 real estate loans (average, $3,691 each; average rate, 6.28%): 6%, $130,552; 6 V2 %, $51,500; 7%, $35,726.
28 share loans (average, $342 each; average rate, 6.31%): 6%, $4,020; 6^%, $2,200; 7%, $1,305.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$260.00
1.14
$667.93
2.93
Advertising
Other
Expenses
$608.49
2.67
Total
$1,536.42
6.74
BOSTON — FARRAGUT CO-OPERATIVE BANK
236
K STREET (SOUTH BOSTON
Incorporated December 30, 1909.
DISTRICT)
Began business February
15,
1910
Theodore L. Kelly, Treasurer
Guilford D. Brown, President
Board of Directors: G. D. Brown*, 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 meeting for receipt of moneys the third Tuesday of each month.
* Security Committee.
—
P.D.
8,
23
Part III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Liabilities
$390,650 00
7,245 00
60 00
800 00
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Due from trust companies and national banks
Cash and cash items
.
.
.
.
.
.
.
.
.
1928
16,
.
.
.
.
.
.
....
....
Dues capital
Profits capital
Matured share
certificates
certificates
Paid-up share
Forfeited share account
22,836 18
261 85
Guaranty fund
Surplus
00
25
00
00
648 80
8,094 36
16,745
38,624
98,600
42,000
.
.
12,489 70
2,750 00
21 (JO
.
Due on uncompleted
loans
Security committee
Dividends on matured share
cates
.
.
certifi.
.
Dividends on paid-up share
cates
1,355 75
.
certifi-
524 17
.
$421,853 03
$421,853 03
Membership
Serial Shares
Issued during year
.
.
.
.
.
.
1,378
1,057
21
51
5,257
2,395
...
...
....
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
.
.
.
....
Members
Members who
Holders
624
are borrowers
181
of:
Unmatured shares
Matured share certificates
.
Paid-up share certificates
i
489
96
58
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share
First term,
1%%;
second term,
lVs%; fourth term,
1%%.
Certificates
1%%\
third term,
Paid-up Share Certificates
second term, 134%; third term,
1M%;
First term,
1M%; fourth term, 1M%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 4 years old; 20% on series
from 4 to 5 years old; 15% on series from 5 to 6 years old; 10% on series from 6 to ? years old; 5%
on series 7 to 8 years old; after 8 years, none.
lJj.2
Rates and Averages on Loans
average rate, 6.41%) 5}4%,
real estate loans (average, $2,751 each;
<
:
),400;
6%, $62,400;
6^%,
$307,900;
7%,
$10,950.
59 share loans (average, $123 each; average rate,
1 loan on matured share certificate: 6%, $60.
1 loan on paid-up share certificate: 6%, $800.
6%): 6%, $7,245.
Total Expenses for Year
Rent
Advertising
042. 00
$142.20
$196.85
2.47
.34
.47
Salaries
Amount
paid for
Cost per $1,000 of assets
.
.
.
.
.
$
L,
^Other
Expenses
$406.90
Total
1,787.95
4.24
.96
BOSTON — FEDERAL CO-OPERATIVE BANK
79
MILK STREET
(Other authorized location for receipt of moneys: 547 Columbia Road, Dorchester)
Incorporated January 29, 1890.
Began business February
6,
1890
Thomas
Daniel L. Mahoney, President
J.
Browne, Treasurer
Board of Directors: T. J. Browne, J. C. Denning*, T. P. Feenev, J. F. Finn*, J. A. Galvin, C. P. Hanlon, D. L.
Mahoney*, F. H. Maine, J. J. McGann, J. W. McGrath, W. J. Quinn, G. P. Reed, L. J. Rouleau, E. P.
Sullivan, J. F. Sullivan*, J. L. Walsh, G. S. Winchester.
Regular meeting for receipt of moneys the
first
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
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
Due from trust companies and na
tional banks
Cash and cash items
_
.
4,
1928
Liabilities
,282,270
23,620
9,965
6,285
8,982
2,200
00
00
00
00
40
00
....
....
....
.....
Dues capital
Profits capital
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted
38,573 74
2,163 47
loans
Security committee
Dividends on matured share
cates
.
.
.
Dividends on paid-up share
cates
$1,374,059 61
* Security Committee.
$637,076
125,516
522,000
33,000
21,672
19,298
7,750
156
00
87
00
00
13
61
00
00
certifi.
7,177 50
certifi-
412 50
$1,374,059 61
—
24
P.D.
Membership
Serial Shares
Issued during year
Forfeited during year
4,232
2,698
105
Matured during year
Shares in force
Shares now pledged
14,730
7,619
Withdrawn during year
New
series issued
.
Members
Members who are borrowers
Holders
429
of:
Paid-up share
1,127
382
29
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share
First term,
l%%\
1H%;
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
1%%;
second term,
fourth term,
First term.
32S
III.
1,368
Unmatured shares
Matured share certificates
718
in
Part
8,
1%%.
Certificates
1%%;
third term,
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
fourth term,
series less
Rates and Averages on Loans
average rate, 6.42%): 5%, $
real estate loans (average, $3,909 each;
IK %•
than 4 years old; after 4 years,
1,600;
hV2 %,
$68,160;
6%,
$42,040;
6^%,
$1,167,470.
188 share loans (average, $171 each; average rate,
20 loans on matured share certificates: 6%, $9,965.
6%): 6%, $23,620.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
54,757 07
3 46
.
Rent
$1,611. 73
1. 17
Advert ising
$620 29
45
Other
Expenses
$1,292.24
.94
Total
$8,281 33
6 02
BOSTON — FOREST HILLS CO-OPERATIVE BANK
3720
WASHINGTON STREET (FOREST HILLS DISTRICT)
(Other authorized locations for receipt of moneys: Bank of Commerce and Trust Company,
21 Milk Street, Boston, and Branch, 360 Centre Street, Jamaica Plain)
Incorporated
John
S.
March
20, 1914.
Began business
April 23, 1914
H. Leard, President
Arthur C. Brady, Treasurer
Board of Directors: J. B. Archibald*, A. C. Brady, P. J. Brady, J. F. Cronin, J. W. Cullen, M. F. Deveney,
R. J. Donnelly, W. F. Donnelly, R. T. Fowler*, J. M. Graham, F. T. Kelley*, C. F. Kreppel, J. S. H.
Leard, R. A. MacLellan*, W. T. McLaughlin*, C. C. Mitchell, W. F. Nolan, M. W. O'Brien, J. F. Shea,
R. F. Waul.
Regular meeting for receipt of moneys the last Wednesday 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
Temporary expense account
Due from
trust companies
tional banks
Cash and cash items
31, 1928
.
00
00
00
00
687 52
,300,350
27,240
3,985
1,000
and na
42,254 33
8,145 73
Dues
capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Matured share account
.
.
Guaranty fund
14,731
10,201
7,479
Surplus
Interest
237
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
Overs and shorts
.
$1,383,662 58
* Security Committee.
$706,349
130,640
419,400
79,000
2,238
10,414
87
2,750
120
10
00
77
00
00
90
57
83
54
27
69
75
64
00
00
62
$1,383,662 58
—
25
>.D. 8, Part III.
Membership
Serial Shares
6,382
2,649
105
ssued during year
Vithdrawn during year
forfeited during year
....
Members
Members who
Holders
17,954
7,574
lhares now pledged
"Jew series issued in January, April, July, October.
1,545
368
.
of:
Unmatured shares
Matured share certificates
980
/latured during year
ihares in force
are borrowers
Paid-up share
1,332
279
76
.
certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
1%%;
1M%;
20%
second term,
fourth term,
First term,
Proportion of profits retained on voluntary withdrawals,
none.
l%%\
1%%.
third term,
Paid-up Share Certificates
x
third term,
second term, \ /i%\
1M%;
fourth term,
on
Certificates
A%\
\ 3
series less
1%%.
than 6 years old; after 6 years,
Rates and Averages on Loans
average rate, 6%): 5J^%, $3,900; 6%, $1,296,450.
30 share loans (average, $210 each; average rate, 6%): 6%, $27,240.
8 loans on matured share certificates: 6%, $13,985.
1 loan on paid-up share certificates
6%, $1,000.
?77 real estate loans (average, $4,694 each;
:
Total Expenses for Year
Amount paid
for
ost per $1,000 of assets
.
Salaries
Rent
Advertising
3,715.00
2.69
$929.92
$20.00
.67
.01
Other
Expenses
$1,630.69
1.18
Total
$6,295.61
4.55
BOSTON — GERMANIA CO-OPERATIVE BANK
4
PARK STREET
(Other authorized location for receipt of moneys: Atlantic National Bank, 114 Dudley Street,
Roxbury
Incorporated October
3,
1885.
District)
Began business October
20, 1885
Paul
Joseph F. Wessling, President
J.
Dorr, Treasurer
Cecelia V. Wessling, Assistant Treasurer
J. Braun, C. H. Dirksmeier*, P. J. Dorr*, J. P. Geishecker*, J. C.
A. McDonald, E. J. O'Neil, J. V. Peard, J. F. Wessling*, H. A. Whelan.
Board of Directors: Valentine Baier*, F.
Hagelstein, T. P. Halligan,
M.
J.
Regular meeting for receipt of moneys the Wednesday after 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
Real estate by foreclosure, etc.
Temporary expense account
Due from trust companies and
.
banks
Cash and cash items
1928
Liabilities
Loans
Loans
Loans
Loans
tional
17,
$2,456,900
41,475
12,725
3,675
22,691
1,323
na65,035
6,425
.
00
00
00
00
97
Dues capital
Profits capital
Forfeited share account
.
30
Guaranty fund
.
.
Surplus
.
.
.
.
.
81
89
Matured share
Paid-up share
Interest
Fines
Transfer fees
.
certificates
certificates
....
...
Withdrawal profits
Due on uncompleted loans
Security committee
$2,610,251 97
* Security Committee.
00
84
00
00
929 63
51,981 33
20,391 52
$1,326,028
256,906
719,600
215,000
12,984 10
223 92
1 00
226 63
5,950 00
29 00
$2,610,251 97
—
26
P.D.
Membership
Serial Shares
Issued during year
6,188
4,627
136
Matured during year
1,226
Shares in force
27,630
Shares now pledged
14,184
New series issued in January, April, July, October.
Withdrawn during year
.
Forfeited during year
Members
Members who
Part
8,
III.
2,595
are borrowers
774
Unmatured shares
Matured share certificates
2,209
541
169
Holders
of:
Paid-up share
certificates
Profits Distributed
First term,
iy8 %;
Unmatured Shares
1%%', second term, l%%;
Matured Share
First term,
1VK %;
l 5/f6%;
IVK %.
Paid-up Share
H%;
Proportion of profits retained on voluntary withdrawals,
none.
25%
%;
l 5/f6
third term,
Certificates
134%; second term, 1J4%;
fourth term,
on
Certificates
second term,
fourth term,
First term,
third term,
1%%.
fourth term,
series less
third term,
1M%-
than 5 years old; after 5 years,
Rates and Averages on Loans
611 real
$4,021 each; average rate, 5.91%): 5%, $217,800; 6%, $2,239,100.
155 share loans (average, $267 each; average rate, 6%): 53^%, $50; 6%, $41,425.
22 loans on matured share certificates : 6%, $12,725.
5 loans on paid-up share certificates : 6%, $3,675.
estate loans (average,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
BOSTON
— THE
Advertising
3,798.92
2,913.50
$50.00
3.37
1.12
.02
Other
Expenses
$2,763.45
1.06
Total
$14,525.87
5.57
BROMFIELD STREET
Incorporated July
S.
Rent
GUARDIAN CO-OPERATIVE BANK
36
Royal
Salaries
2,
1886.
Began business August
Wentworth, President
6,
1886
William D. Eldredge, Treasurer
Herbert W. Lewis, Assistant Treasurer
of Directors: W. H. Bain, W. D. Eldredge*, W. S. Fracker*, H. C. Hathaway, F. A. Hinchcliffe, J. T.
Kaler, P. B. Roberts, C. C. Swett*, F. C. Toward*, Joseph Uttley, R. S. Wentworth* F. A. Wyman,
Board
H. L. Young*.
Regular meeting for receipt of moneys the
first
Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Common
5,
1928
Liabilities
real estate
51,
shares
matured share certificates
paid-up share certificates
form mortgages
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
.
923, 000 00
37,950 00
9,550 00
500 00
13,418 00
95,793 38
3,253 05
423 30
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
Interest
87,866 64
14,008 28
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
00
79
00
00
73
72
91
87
35
06
00
1,019 22
8,200 00
418 00
$2,185,762 65
$2,185,762 65
* Security
$906,238
161,674
679,000
156,200
275
112,287
49,429
57,467
51,463
2,080
8
Committee.
—
P.D.
8,
27
Part III.
Membership
Serial Shares
.....
Members
Members who
3,986
3,228
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in June, December
.
Unmatured shares
Matured share certificates
.
Holders
673
Forfeited during year
are borrowers
1,123
18,891
10,624
1,685
471
of:
1,198
477
119
Paid-up share certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%;
First term,
23^%; second term,
second term,
Paid-up Share
Proportion of profits retained on voluntary withdrawals, 20% on series
none.
less
Certificates
2%%.
Certificates
2H%-
than 8 years old;
after 8 years
Rates and Averages on Loans
382
average rate, 6.01%):
real estate loans (average, $5,034 each;
$1,200; 7%, $9,600.
138 share loans (average, $275 each; average rate, 6%):
15 loans on matured share certificates: 6%, $9,550.
1 loan on paid-up share certificate : 6%, $500.
6%,
5J^%, $14,200; 6%, $1,898,000;
6V2 %,
$37,950.
Total Expenses for Year
Salaries
Amount
$4,398.99
2.01
paid for
Cost per $1,000 of assets
.
Rent
Other
Expenses
Advertising
$725.79
$413.28
.33
.19
$2,387.44
1.09
Total
$7,925.50
3.62
BOSTON — HARVARD CO-OPERATIVE BANK OF DORCHESTER
378
WASHINGTON STREET (DORCHESTER DISTRICT)
Incorporated March
William
J.
7,
1911.
Began business April
12,
1911
Walter D. Loring, Treasurer
Dowling, President
Board of Directors: T. S. Bell, J. F. Cooney, J. F. Cooper, F. P. Dannahy, W. J. Downing, W. E. Elton*, H. K.
Lambert, W. D. Loring, W. E. McGerigle*, J. A. McMurry, John Morton, J. F. Murphy, P. A. Pascarelli,
C. W. Rodgers, J. L. Scollins, F. W. Stalder, H. R. Stoddard*, Abraham Trachtenberg, R. M. Walsh*,
L. A. Waterhouse*.
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
Real estate by foreclosure,
etc.
Unpaid interest
Temporary expense account
Due from
trust
.
00
00
00
00
27,498 83
6,093 93
922 47
,249,200
10,312
2,500
2,000
companies and na
tional banks
Cash and cash items
10, 1928
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Interest
62,317 36
972 13
Fines
.
Withdrawal profits
Due on uncompleted loans
Security committee
,.
$1,361,816 72
* Security
$588,954
102,825
497,800
121,000
868
17,684
18,047
6,863
155
00
66
00
00
75
96
73
80
65
05
66
7,430 12
120 00
$1,361,816 72
Committee.
—
28
P.D.
Issued during year
Withdrawn during year
8,
Part
III.
Membership
Serial Shares
4,179
3,484
32
.
Forfeited during year
Members
Members who
Holders
Matured during year
265
Shares in force
15,091
Shares now pledged
7,077
New series issued in January, April, July, October.
1,345
are borrowers
.
.
320
.
.
1,030
.
.
.
.
of:
Unmatured shares
Matured share certificates
.
Paid-up share
certificates
363
97
Profits Distributed
Unmatured Shares and Matured Share
First term,
1%%;
Proportion of profits retained on voluntary withdrawals,
none.
268
real estate loans
20%
on
second term,
fourth term,
First term,
1M%;
1%%;
l%%.
1%%;
Certificates
third term,
Paid-up Share Certificates
X
second term, \ A%\
third term,
1M%;
fourth term,
1M%-
than 5 years old; after 5 years,
series less
Rates and Averages on Loans
average rate, 6.45%): 5J^%,
(average $4,661 each;
6^%,
6%, $60,150;
5,500;
$1,162,550.
6M%,
46 share loans (average, $224 each; average rate, 6.50%):
3 loans on matured share certificates: 6J^%, $2,500.
3 loans on paid-up share certificates: 6H%. $2,000.
$10,312.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
1,234.02
3.11
1,268.98
.93
$32.03
Other
Expenses
Total
$3,898.04
2.87
.02
),433.07
6.93
BOSTON — HIGHLAND CO-OPERATIVE BANK
1109
COLUMBUS AVENUE (ROXBURY DISTRICT)
(Other authorized location for receipt of moneys: State Street Trust Company, Corner State and
Congress Streets, Boston)
Incorporated February 24, 1899.
Began business February
Cornelius Vander Pyl, President
27, 1899
Clarence E.
MacKay,
Treasurer
Board of Directors: W. J. Bleiler*, B. D. Brawley, L. F. Clough, J. W. Colgan, Joseph Esselen*, C. B. Faunce,
F. C. Gerlach, D. E. Hersee, Charles Liffler, C. E. MacKay, H. J. Muller*, W. I. Nichols, H. S. Ormsby,
S. J. Rantin*, G. H. Richmond, Mark Shack, W. M. Simpson, Cornelius Vander Pyl.
Regular meeting for receipt
of
moneys the
third
Monday
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
Loans on paid-up share certificates
Unpaid interest
Temporary expense account
.
,463,840
29,970
1,100
1,500
2,601
1,045
00
00
00
00
Dues capital
Profits capital
17
Forfeited share account
85
Guaranty fund
Due from
trust companies and na
banks
Cash and cash items
tional
15, 1928
Matured share
Paid-up share
certificates
certificates
.
Surplus
57,949 81
1,229 47
Interest
Fines
Transfer fees
.
1
Withdrawal profits
Due on uncompleted loans
Security committee
Overs and shorts
.
232
4,400
95
5
00
86
00
00
82
28
05
58
08
25
38
00
00
00
$1,559,236 30
$1,559,236 30
* Security
$948,091
185,142
233,200
106,400
487
33,204
25,486
22,143
347
Committee.
—
P.D.
8,
29
Part III.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
.
.
.
.
.
.
3,229
1,915
61
...
....
.
.
.
.
18,866
8,216
.
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
504
Matured during year
Snares in force
Shares now pledged
New series issued in February, August.
.
.....
Members
Members who
1,435
456
of:
Paid-up share
1,345
169
99
certificates
Profits Distributed
Unmatured Shares
First term,
3%; seqond
term,
3%.
Matured and Paid-up Share
First term,
Proportion of profits retained on voluntary withdrawals,
none.
10% on
Certificates
2}4%; second term, 2J^%.
series less
than 6 years old; after 6 years,
Rates and Averages on Loans
5%, $25,800;
average rate, 5.97%):
(average,
,862 each;
$1,351,035; 6H%, $32,000.
74 share loans (average, $405 each; average rate, 6%): 6%, $29,970
k loans on matured share certificates: 6%, $1,100.
/ loan on paid-up share certificates: 6%, $1,500.
379
real estate loans
%',
5H%,
$55,005;
6%,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$4,150.00
2.67
$290.00
$50.00
.18
.03
Other
Expenses
$1,048.65
Total
$5,538.65
3.55
.67
BOSTON — HOMESTEAD CO-OPERATIVE BANK
BROMFIELD STREET
36
Incorporated September
11, 1877.
Began business September
Walter H. Roberts, President
12,
1877
William D. Eldredge, Treasurer
Herbert
W.
Lewis, Assistant Treasurer
Board of Directors: W. H. Bain, W. D. Eldredge*, W. S. Fracker* F. A. Hinchcliffe, J. T. Kaler, P. B. Roberts,
W. H. Roberts, C. C. Swett*. F. C. Toward*, Joseph Uttley, R. S. Wentworth*, F. A. Wyman, H. L.
Young*.
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Due from
trust companies
tional banks
Cash and cash items
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
10,
.
,869,000 00
29,650
8,200
8,000
112,094
1,528
56
00
00
00
44
93
30
Dues
capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Retired share account
Matured share account
Guaranty fund
and na
42,153 68
11,688 28
Surplus
Interest
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
00
85
00
00
03
00
10
03
81
81
1,245 40
2 50
392 10
10,650 00
161 00
$2,082,371 63
$2,082,371 63
* Security
$867,677
172,153
776,600
130,000
936
5,000
100
50,803
43,357
23,292
Committee.
—
30
P.D.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
3,677
3,321
.
667
973
....
New
series issued in
Members
Members who
Part
III.
1,662
are borrowers
352
Unmatured shares
Matured share certificates
1,159
Holders
18,434
10,929
8,
of:
Paid-up share
514
95
certificates
March, September.
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%\
First term,
2Y2 %;
20%
Proportion of profits retained on voluntary withdrawals,
none.
373
on
second term,
Paid-up Share Certificates
X
second term, 2 A%.
series less
than 8 years old; after 8 years,
Rates and Averages on Loans
average rate, 6%): 53^%, $17,800; 6%, $1,835,600;
QH%,
real estate loans (average, $5,011 each;
7%, $8,100.
share loans (average, $221 each; average rate, 6%):
10 loans on matured share certificates : 6%, $8,200.
6%,
13.',.
Certificates
2%%.
$7,500;
$29,650.
Total Expenses for Year
Rent
Adven ising
Other
Expenses
$725 96
35
$478 81
23
$2,334.06
1.12
Salaries
Amount
$4,398 95
paid for
Cost per $1,000 of assets
.
2 11
Total
$7,937 78
3 81
BOSTON — HYDE PARK CO-OPERATIVE BANK
1172
RIVER STREET (HYDE PARK DISTRICT)
(Other authorized locations for receipt of moneys: 105 Readville Street, Readville; National
Shawmut Bank, Summer Street, Boston)
Incorporated
Everett
W.
March
26, 1886.
Began business
May
5,
1886
Frederick P. McGrath, Treasurer
Lewis, President
Board of Directors: H. E. Astley, J. E. Farrell, J. A. Galvin, E. C. Jenney, E. H. Kearney*, Charles Larsson,
E. W. Lewis, 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.
Regular meeting for receipt
of
moneys the
Wednesday
first
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
1928
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
Temporary expense account
Personal accounts
Overs and shorts
Due from trust companies and
tional banks
Cash and cash items
.
.
.
.
5,
m
,935,350 00
48,050
9,840
2,440
7,781
62,500
4,000
00
00
00
13
00
00
1,491 03
80 00
110 50
Dues
capital
Profits capital
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
Withdrawal
35,164 25
4,458 08
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Personal accounts
Other liabilities
Bills
.
00
81
00
00
21
63
44
52
810 91
75
402 16
50,000 00
18,320 00
125 00
119 06
159 50
$3,111,264 99
$3,111,264 99
* Security
$1,471,319
288,698
841,600
315,600
5,379
50,836
38,039
29,854
Committee.
——
P.D.
31
Part III.
8,
Membership
Serial Shares
10,288
6,519
111
2,769
32,530
16,784
Issued during year
Withdrawn during year
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
Members
Members who
Holders
3,214
are borrowers
945
,.
.
of:
Unmatured shares
Matured share certificates
.
.
Paid-up share certificates
2,698
.
.
667
274
.
,
.
.
March, June, September, De-
series issued in
cember.
Profits Distributed
Unmatured Shares
\%%\
First term,
iy8 %;
second term,
1%%.
fourth term,
\%%\
Matured and Paid-up Share
First term, 1}4%',
1%%;
second term,
fourth term,
third term,
Certificates
1M%;
third term,
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.
10%
on
series
Rates and Averages on Loans
756 real estate loans (average, $3,883 each; average rate, 6%): 5%, $7,200; 6%, $2,928,150.
168 share loans (average, $295 each; average rate, 6%): 6%, $48,050.
21 loans on matured share certificates : 6%, $9,840.
5 loans on paid-up share certificates : 6%, $2,440.
Total Expenses for Year
Rent
Salaries
Amount
$6,167.00
1.98
paid for
Cost per $1,000 of assets
.
Other
Expenses
Advertising
.
$540.97
$328.50
$2,530.29
.17
.11
.81
Total
$9,566.76
3.07
BOSTON — JAMAICA PLAIN CO-OPERATIVE BANK
702
CENTRE STREET (JAMAICA PLAIN DISTRICT)
Incorporated February
7,
1920.
Began business February
19,
1920
George
Robert D. Webster, President
Ganer, Treasurer
J.
Beering, Joseph Chiccarelli, P. M. Connolly*, W. E. Corkum, C. H. Curtis, Herbert
Board
Dillingham, E. C. Donahue, W. T. Driscoll, W. W. Foley, R. T. Fowler*, G. J. Ganer, Lillian E. Goodwin,
J. L. Griffin, Joseph Harriman, W. R. Hicks, B. E. Holland, J. B. Kavanaugh, G. W. Kenyon* R. B.
Kenyon, F. P. Kinney, J. R. MacKinnon, H. C. Maguire, Alice E. McMurrough, P. J. Oswald, John
Perrins, F. A. Pflug, D. B. Ruggles, G. C. Russell, R. D. Webster.
of Directors: F.
W.
Regular meeting 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
Due from trust companies and
tional banks
Cash and cash items
.
1928
18,
Liabilities
$357,100 00
14,895 00
38 13
Dues capital
Profits capital
Paid-up share certificates
Forfeited share account
.
10,778 18
5 95
Guaranty fund
Surplus
Due on uncompleted
loans
Security committee
Dividends on paid-up share
cates
certifi
425 00
.
$382,817 26
$382,817 26
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New
series issued in
00
37
00
00
68
89
00
32
$287,727
52,795
34,000
200
3,428
3,753
150
337
1,362
1,054
70
....
Members
Members who are borrowers
Holders
591
115
of:
Unmatured shares
6,623
2,226
Paid-up share
570
27
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share
IH%;
1%%;
second term,
fourth term, 1^%.
First term,
Certificates
A%;
l 3
third term,
Paid-up Share Certificates
1J€%; second term, 1M%; third term,
fourth term, \\i%.
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
* Security Committee.
series less
than 5 years old; after 5 years,
—
Y
32
P.D.
8,
Part III.
Rates and Averages on Loans
73 real estate loans (average, $4,892 each; average rate, 6%): 6%, $353,600; 63^%. $3,500.
42 share loans (average, $355 each; average rate, 6.01%): 6%, $14,595; 63^%, $300.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$684.00
1.80
$180.00
$37.80
.47
.10
Other
Expenses
$286.74
Total
$1,188.54
3.11
.74
BOSTON — JOSEPH WARREN CO-OPERATIVE BANK OF ROXBUR
2371
WASHINGTON STREET (ROXBURY DISTRICT)
(Other authorized locations for receipt of moneys: National Rockland Bank, 50 Congress
Street, Boston; Atlantic National Bank, 88 Summer Street, Boston)
Incorporated April 26, 1910.
Frank D.
Began business
May
16,
1910
Waldo H. Chandler, Treasurer
Littlefield, President
Board of Directors: A. L. Bacon, H. C. Byrne, W. H. Chandler. G. H. Corey, F. G. Cressey, J. G. Ferguson*,
E. S. Fields, M. J. Finn, A. J. Foster, T. P. Gormley, I. B. Howe, W. J. Kelly, F. D. Littlefield, W. H.
Reed, F. W. Rugg, E. J. Ryan, A. W. Smith*, H. E. Stevens*, F. S. Waterman.
Regular meeting 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
Bonds and notes
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
.
.
Personal accounts
Due from
.
trust companies
Liabilities
,354,475
66,707
4,330
1,250
1,000
5,666
55,700
1,626
00
00
00
00
00
Dues capital
Profits capital
91
Matured share account
Guaranty fund
00
63
50 00
and na
banks
Cash and cash items
Matured share
Paid-up share
00
20
00
00
385 75
18,054 00
$1,451,270
243,487
461,400
242,800
certificates
certificates
Forfeited share account
.
.
51,427 51
71,417 24
3,000 00
Surplus
Due on uncompleted
Personal accounts
50,605 56
10,695 96
tional
15, 1928
loans
28 00
.
Dividends on matured share
certifi
5,802 36
cates
Dividends on paid-up share
certifi
3,035 00
cates
$2,552,107 06
$2,552,107 06
Membership
Serial Shares
Issued during year
6,930
5,705
Withdrawn during year
Forfeited during year
49
Matured during year
Shares in force
Shares now pledged
631
32,251
14,271
New
series issued in
....
Members
Members who are borrowers
Holders
2,887
836
of:
Unmatured shares
Matured share certificates
Paid-up share
2,626
377
197
.
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured and Paid-up
Share Certificates
First term,
1M%;
/i%\ second term,
\ x
1M%;
third term,
fourth term, \\i%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
$3,562 each; average rate, 5.98%): 5K%, $97,750;
349 share loans (average, $191 each; average rate, 6%): 6%, $66,707.
7 loans on matured share certificates: 6%, $4,330.
3 loans on paid-up share certificates : 6%, $1,250.
661 real
estate loans (average,
6%,
$2,256,725.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$7,713.00
3.02
* Security
Rent
Advertising
Other
Expenses
$2,400.00
$12.50
52,715.49
.94
.01
1.06
Committee.
Total
$12,840.99
5.03
—
P.D.
8,
Part
33
III.
BOSTON — THE KING SQUARE CO-OPERATIVE BANK
ADAMS STREET (DORCHESTER
418
Incorporated
May
14, 1928.
DISTRICT)
Began business
May
14,
1928
Frank H. Lamont, Treasurer
Lester P. Sherman, President
Daniel
J.
O'Leary, Assistant Treasurer
Board of Directors: Timothy Ahern, A. E. Beaton, John Bowen, J. H. Carey, Albert Carroll*, Frank Colby,
W. H. Dick, John Graham*, J. J. Healey, J. J. Kincade*, F. H. Lamont*, J. J. Lamont, P. F. Lamont,
W. H. Lewis, A. J. McGillivray* Phillip McMorrow, R. A. Noonan, D. J. O'Leary, L. P. Sherman, J. E.
Sullivan, F. L. Tegan, G. A. Vail.
Regular meeting for receipt of moneys the second
Monday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
Loans on real estate
Due from trust companies and national banks
Cash and cash items
....
._
.
.
.
.
.
$6,000 00
616 47
1,409 64
Dues capital
Profits capital
$7,900 00
117 30
6 81
2 00
Guaranty fund
Surplus
$8,026 11
$8,026 11
Membership
Serial Shares
...
....
...
Issued during year
Withdrawn during year
Shares in force
Shares now pledged
New series issued in February,
.
1928
Liabilities
.
.
1,660
60
1,600
30
.....
Members
Members who are borrowers
Holders
189
2
of:
Unmatured shares
189
May, August, No-
vember.
Profits Distributed
First term,
Unmatured Shares
134%; second term, \\i%.
Proportion of profits retained on voluntary withdrawals, 20%.
2 real
estate loans (average,
Rates and Averages on Loans
6%, $6,000.
$3,000 each; average rate, 6%):
Total Expenses for Year
Salaries
Amount
Rent
Advertising
Other
Expenses
Total
paid for
Cost per $1,000 of assets
.
BOSTON — LOWER MILLS CO-OPERATIVE BANK
1170
WASHINGTON STREET (DORCHESTER DISTRICT)
Incorporated August 10, 1927.
Began business September
1,
Alexander H. Copley, President
1927
Lewis Sears, Treasurer
J. J. Ahern*, C. H. Chute*, A. H. Copley*, P. J. Cushing, A. L. Draper, J. W. Drusdill,
G. F. Everett, F. A. Gaskins, E. P. Hoye, W. H. Morrill, Lewis Sears, W. S. Weaver.
Board of Directors:
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
Temporary expense account
Overs and shorts
.
.
Due from
trust companies and nabanks
Cash and cash items
tional
1928
Liabilities
....
....
Loans on real estate
Loans on shares
Furniture and fixtures
10,
$39,500
704
256
102
4
00
00
86
68
83
Dues capital
Profits capital
Paid-up share certificates
Guaranty fund
Surplus
....
Interest
3,167 77
66 16
Fines
Withdrawal profits
Due on uncompleted loans
Security committee
Other liabilities
$43,802 30
* Security Committee.
$34,895 00
765 61
1,800 00
44 93
2 80
400 54
32 36
17 23
5,700 00
6 00
137 83
$43,802 30
—
34
P.D.
Membership
Serial Shares
Issued during year
886
Withdrawn during year
306
Shares in force
3,016
Shares now pledged
291
New series issued in March, June, September, December.
....
.
.
.
.
.
.
.
.
8,
Part III.
.....
Members
Members who
Holders
are borrowers
Unmatured shares
.
283
18
.
.
...
of:
Paid-up share certificates
281
2
.
.
Profits Distributed
Unmatured Shares
1M%;
second term,
fourth term, 1}4%-
First term,
1U%\
Proportion of profits
1M%;
third term,
Paid-up Share Certificates
Fourth term, \\i%.
retained on voluntary withdrawals, 25% on series less than 3 years old; after 3 years
none.
Rates and Averages on Loans
9 real estate loans (average, $4,389 each; average rate, 6%): 6%, $39,500.
9 share loans (average, $78 each; average rate, 6%): 6%, $704.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
BOSTON
— THE
1442
Rent
Advertising
$55.50
1.28
$22.50
.51
Other
Expenses
$272.04
6.20
Total
.04
7.99
MASSACHUSETTS CO-OPERATIVE BANK
DORCHESTER AVENUE (DORCHESTER DISTRICT)
(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
1908
28,
Joseph R. Churchill, President
Ansley
M.
Johnson, Treasurer
C. Briscoe, F. J. Carey, J. R. Churchill, D. J. Ferguson, L. J. Hayford*, 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, F. I. Wilkins.
Board of Directors:
J.
Regular meeting for receipt of moneys the
last business
day
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.
Banking house
Furniture and fixtures
Temporary expense account
.
Building expense
Due from
.
trust companies
31, 1928
Liabilities
Assets
,998,975 00
39,598 00
11,750 00
670 79
24,000 00
2,183 68
3,596 68
314 11
and na
tional banks
Cash and cash items
Dues capital
Profits capital
$1,496,306
225,822
2,025,800
116,000
.
Matured share
certificates
certificates
Paid-up share
Forfeited share account
Matured share account
495
.
108,811
46,913
45,421
40,952
.
Guaranty fund
Surplus
Interest
20,611 66
33,524 59
786
Fines
Transfer fees
.
Due on uncompleted
6 10
27,275 00
loans
288 00
346 07
Security committee
Other
liabilities
$4,135,224 51
$4,135,224 51
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
00
04
00
00
64
92
24
56
44
50
17,895
12,990
252
2,212
43,586
22,392
Members
Members who are borrowers
Holders
of:
—
Unmatured shares
Matured share certificates
.
Paid-up share certificates
4,762
.
.
.
.
.
.
.
.
992
3,667
1,429
79
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares and Matured Share
First term, l*Hi%;
iy8 %;
second term,
fourth term,
First term,
Certificates
third term,
1%%.
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
1M%; fourth term, 1M%Proportion of profits retained on voluntary withdrawals, none.
* Security Committee.
1%%;
—
P.D.
8,
Part III.
35
Rates and Averages on Loans
836 real estate loans (average, $4,783 each; average rate, 6.17%): 53^%, $16,100; 6%, $2,583,300; 6J^%,
$1,355,515; 7%, $44,060.
6H%,
195 share loans (average, $203 each; average rate, 6.50%):
34 loans on matured share certificates: 6J^%, $11,750.
$39,598.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
...
Salaries
Rent
$16,401.22
3.97
$1,200.00
Other
Expenses
Advertising
.29
Total
£2,519.66
.61
>.15
.11
),577.03
4.98
BOSTON — THE MATTAPAN CO-OPERATIVE BANK
1575
BLUE HILL AVENUE (MATTAPAN DISTRICT)
Room
(Other authorized location for receipt of moneys: 294 Washington Street,
Incorporated
November
14, 1910.
Began business December
219,
Boston)
20, 1910
William R. Landers, Treasurer
Charles K. Thurston, President
Frieda
M. Anderson,
Assistant Treasurer
Board of Directors: J. F. Ballard, W. H. Crosby, W. G. Cruckshank*, G. T. Curley, E. E. Erickson, W. A.
Guild, L. W. Kent, W. R. Landers*, J. B. Patterson, T. S. Richardson*, T. W. Roulston, F. N. Russell,
S. B. Small, P. D. Smith, J. A. Spencer, C. K. Thurston, J. P. Weldon, J. F. Willett.
Regular meeting for receipt of moneys the third Tuesday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
16, 1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Temporary expense account
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
11,949,145 00
21,560 00
13,665 00
1,492 11
4 95
.
.
15,174 29
886 50
Dues capital
Profits capital
Matured share
certificates
Paid-up share certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
6,997
18,915
Interest
Fines
390
.
Withdrawal
profits
Bills payable for money
72
50,000
68,417
181
183
150
borrowed
Due on uncompleted loans
Security committee
Personal accounts
Due on foreclosure sales
.
$2,001,927 85
$2,001,927 85
Membership
Serial Shares
Issued during year
Withdrawn during year
8,617
3,513
127
1,992
18,705
10,624
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
00
09
00
00
98
50
96
25
79
94
68
00
52
50
64
00
$670,355
117,969
960,600
87,200
164
5,020
15,308
.....
Members
Members who
Holders
are borrowers
1,833
500
.
of:
Unmatured shares
Matured share certificates
Paid-up share
1,274
654
66
.
certificates
March, June, September, De-
cember
Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, l%,%\ second term, 1%%\ third term,
IH%;
fourth term,
1%%.
Paid-up Share
Certificates
First term,
1%%', second term, 134%;
1M%;
1M%-
fourth term,
third term,
Proportion of profits retained on voluntary withdrawals, none.
420
Rates and Averages on Loans
average rate, 6.01%): 6%, $1,926,245;
loans (average, $287 each; average rate, 6%): 6%, $21,560.
on matured share certificates 6%, $13,665.
real estate loans (average, $4,641 each;
75 share
27 loans
6%%,
$22,900.
:
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
3,082.62
3.03
L,
Other
Expenses
Total
Rent
Advertising
444. 44
.72
$215.75
52,181.85
),924.66
.11
1.09
4.95
* Security Committee.
—
36
P.D.
Part III.
8,
MEETING HOUSE HILL CO-OPERATIVE BANK
BOSTON
240
BOWDOIN STREET (DORCHESTER DISTRICT)
(Other authorized locations for receipt of moneys: First National Bank, 67 Milk Street, Boston;
555 Columbia Road and 1432 Dorchester Avenue, Dorchester)
Incorporated April 22, 1914.
May
Began business
1914
14,
William E. Wight, President
John H. Dorsey, Treasurer
Board of Directors: W. L. Cahalan, William Campbell, J. T. Cavanagh, 2d, J. J. Comfrey, F. S. Devlin, H. J.
Dixon, J. H. Dorsey*, J. F. Fennessey, R. S. Fitzgerald, T. B. Kelly, J. P. Landers*, Daniel Leary*,
C. J. Murphy, M. J. O'Hare, Ambrogio Piotti*. Erhardt Schatz, R. F. Sheehan, W. E. Wight*.
Regular meeting for receipt of moneys the second Thursday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
11,
1928
Liabilities
Loans
Loans
Loans
Loans
on real estate
on shares
on matured share certificates
on paid-up share certificates
Furniture and fixtures
Due from trust companies and na
tional banks
Cash and cash items
00
00
00
00
400 00
,202,250
20,846
4,115
1,200
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
....
.
Guaranty fund
27,185 76
308 40
Surplus
Bills payable for
11,571
6,208
30,000
money borrowed
Due on uncompleted loans
Overs and shorts
Dividends on matured share
200
5
.
certifi
5,714 50
cates
Dividends on paid-up share
certifi
1,050 00
ficates
$1,256,305 16
$1,256,305 16
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
.
.
.
.
.
.
4,271
2,650
...
38
458
....
.
.
00
93
00
00
24
90
29
00
00
30
$599,490
101,918
415,600
84,000
546
.
.
.
.
.
.
15,249
6,889
....
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
1,253
323
of:
Paid-up share
1,124
320
89
certificates
May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
z
third term,
First term, \Y%%; second term, \ /%%\
\%%;
l%%.
fourth term,
First term,
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
1K%; fourth term, 1%%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 4 years old; 20% on series
from 4 to 5 years old; 15% on series from 5 to 6 years old; 10% on series from 6 to 7 years old; 5% on
series from 7 to 8 years old after 8 years, none.
;
Rates and Averages on Loans
250 real estate loans (average, $4,809 each; average rate, 5.98%) 53^%, $35,650; 6%, $1,166,600.
63 share loans (average, $330 each; average rate, 6%): 6%, $20,846.
10 loans on matured share certificates: 6%, $4,115.
2 loans on paid-up share certificates : 6%, $1,200.
:
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
3,587.47
.
2.86
Rent
Advertising
$94.35
.53
.77
Other
Expenses
$960.73
.76
.07
Total
$5,612.08
4, 46
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 20, 1881.
Bertram D.
Began business February
10,
1882
Albert E. Duffill, Treasurer
Blaisdell, President
Girard N. Jones, Assistant Treasurer
Board of Directors: H. E. Abbey, J. H. Aubin*. B. D. Blaisdell, A. E. Duffill, Frank Fanning*, W. F. Freeman*, H. F. French*, R. N. Hall, C. N. Marland, A. J. Mercer, C. S. Patten*, H. A. Perkins*, F. M.
Perry, J. C. Pineo, C. D. Rice, C. W. Sherman, J. A. Sparrow* F. O. Whitney*.
Regular meeting for receipt of moneys the second
* Security Committee.
Monday
of
each month.
—
P.D.
8,
Part III.
37
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
Bonds
1928
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
Common form mortgages
Real estate by foreclosure, etc.
Temporary expense account
.
.
.
.
$27,686,865
658,490
67,890
8,840
300,000
49,996
219,719
16,270
00
00
00
00
00
20
48
21
1,835 34
467 32
Insurance and taxes paid
Security committee
Due from trust companies
8,
and na
banks
Cash and cash items
724,483 84
297,818 33
tional
Dues
capital
Profits capital
Matured share
Paid-up share
$16,381, 949 00
3,466, 288 61
.
.
6,519, 400
2,301, 200
00
00
6, 263 69
667, 467 69
209, 217 24
290, 010 49
468 75
925 33
38 00
3 109 50
177 584 85
752 57
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Premiums
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Other
liabilities
$30,032,675 72
$30,032,675 72
Membership
Serial Shares
[ssued during year
86,666
61,327
2,997
8,567
364,548
163,430
Withdrawn during year
Forfeited during year
Matured during year
Members
Members who
Holders
are borrowers
.
.
.
.
.
22,397
4,811
.
.
1,786
of:
Unmatured shares
Matured share certificates
.
Shares in force
Shares now pledged
^ew series issued in March, June, September, De-
26,943
7,407
.
Paid-up share
cember.
certificates
Profits Distributed
Unmatured shares
First term, 1J^%; second term, 13^%;
V/{6 %; fourth term, V/^%.
Matured Share
First term,
l%%;
A%;
\ X
l%%.
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
20%
series less
1^%;
third term,
Certificates
\\i%; second term,
fourth term,
on
Certificates
second term,
fourth term,
third term,
1M%-
1M%;
third term,
than 5 years old; after 5 years,
Rates and Averages on Loans
$4,769 each; average rate, 6.04%): 5%, $230,650; b\i%, $179,150; 5^%,
$109,800; 5M%, $33,150; 6%, $23,956,215; 6^%, $14,400; 6K%, $3,114,350; 6M%. $10,300;
7%, $36,400; 7*4%, $450; 8%, $2,000.
',589 share loans (average, $254 each; average rate, 6.14%):
5%, $570; 5M%. $50; 53^%, $600; 6%,
$476,070; 6^%, $174,990; 7%, $4,980; 7^%, $50; 8%, $1,180.
X
<6
191 loans on matured share certificates: 6%, $42,090;
A%, $25,250; 7%, $550.
31 loans on paid-up share certificates : 6%, $5,280; 6J^%, $3,560.
',806 real estate loans (average,
Total Expenses for Year
Salaries
imount paid
4,193.33
for
"ost per $1,000 of assets
.
2.14
Rent
Advertising
$16,875.00
.56
511,711.25
.39
Other
Expenses
$22,034.46
.14,814.04
.73
3.82
Total
BOSTON — METROPOLITAN CO-OPERATIVE BANK
80
Incorporated
'red
May
FEDERAL STREET
14, 1915.
Began business
May
24, 1915
F. Oscar Chase, Treasurer
E. Bolton, President
G. A. Bleyle, F. E. Bolton, H. M. Chamberlain, L. W. Chandler, F. O. Chase*, R. D.
Ellis, B. M. Golding*, J. W. A. Gordon*, H. H. Hale*, J. C. Hall, E. L. Harris,
Hastings, T. E. McCarthy, C. A. Palmer*, W. J. Peterson, Guy Richardson, Annie M. Stone,
oard of Directors:
Crook*,
J.
H. Dunn, B. P.
Theodora M.
C. L. Titus, H. F. Weiler.
Regular meeting for receipt of moneys the third
* Security Committee.
Monday
of
each month.
—
P.D.
38
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
$693,900 00
13,749 00
1,490 00
180 00
608 60
1,292 67
2 71
14 24
shares
matured share
certificates
paid-up share certificates
Furniture and fixtures
Insurance and taxes paid
Security committee
Overs and shorts
.
trust companies
Part
III.
Liabilities
real estate
Due from
8,
15, 1928
and na
Dues capital
Profits capital
00
21
00
00
1,478 24
7,903 55
5,967 47
8,582 13
278 37
75
190 88
4,790 00
$311,218
54,442
270,400
57,200
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
banks
Cash and cash items
5,486 58
5,727 80
tional
Withdrawal profits
Due on uncompleted loans
$722,451 60
$722,451 60
Membership
Serial Shares
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
2,699
1,367
593
May,
7,472
3,548
August, No-
.....
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
740
183
of:
582
183
58
Paid-up share certificates
vember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
%
First term, \ /%%\
second term, \V%%\ third term,
1H%;
fourth term,
1%%.
Paid-up Share Certificates
First term, 1J4%; second term, 134%; third term,
1%%;
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, 25% on series less than 3 years old;
3 to 6 years old; after 6 years, none.
20%
on
series
Rates and Averages on Loans
153 real estate loans (average, $4,535 each; average rate, 6%): 6%, $693,900.
66 share loans (average, $208 each; average rate, 6%): 6%, $13,749.
2 loans on matured share certificates: 6%, $1,490.
1 loan on paid-up share certificates: 6%, $180.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
5,267.00
$930.63
1.28
4.52
Advertising
Other
Expenses
$1,287.76
1.78
Total
$5,485.39
7.58
BOSTON — MINOT CO-OPERATIVE BANK
379
NEPONSET AVENUE (NEPONSET DISTRICT)
(Other authorized locations for receipt of moneys: National Rockland Bank, 2343 Washington
Street, Roxbury, and 50 Congress Street, Boston)
Incorporated June 19, 1923.
Henry B. Barham,
Began business July
1,
1923
William G. Henry, Treasurer
President
Board of Directors: C. J. Adams, H. B. Barham, J. J. Crowley, Matthew Cummings, J. J. Gallivan, J. M.
Griffin, W. G. Henry, W. J. Henry*, A. W. Hunt, D. W. Jones, J. J. Lynch, J. H. Murphy, E. H. Oxner,
J. P. Riley*, D. J. Sullivan*, P. J. Sullivan, N. N. Wood.
Regular meeting for receipt of moneys the second
* Security Committee.
Monday
of
each month.
—
P.D.
8,
39
Part III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on paid-up share
Furniture and fixtures
Liabilities
.
.
certificates
Due from
.
.
Temporary expense account
Personal accounts
.
....
,
.
.
trust companies
$133,900
6,295
300
80
33
85
Dues capital
Profits^capital
00
00
00
00
80
00
00
88
05
1,290 96
.
....
.
.
.
726 47
32 24
4 54
6,500 00
600 00
36 00
Interest
7,280 25
3,869 38
Fines
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Dividends on paid-up share certifi Bills
cates
182 50
.
$151,843 43
$151,843 43
Membership
Serial Shares
Issued during year
...
...
....
.
.
.
Withdrawn during year
Forfeited during year
Shares in force
New
Members
Members who
2,138
861
44
Holders
now pledged
.
.
478
84
are borrowers
of:
Unmatured shares
4,662
1,082
series issued in January, April, July, October.
Shares
00
79
$113,857
12,223
15,200
196
993
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
and na-
banks
Cash and cash items
tional
1928
8,
Paid-up share
.
464
28
certificates
Profits Distributed
Unmatured Shares
1%%;
First term,
1%%;
second term,
fourth term,
First term,
1%%;
third term,
1%%.
Paid-up Share Certificates
second term, 1%%; third term,
1M%;
1M%; fourth term, 1M%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
6%): 6%, $133,900.
6%, $6,295.
41 real estate loans (average, $3,266 each; average rate,
42 share loans (average, $150 each; average rate, 6%):
1 loan on paid-up share certificates: 6%, $300.
Total Expenses for Year
Salaries
Amount
$320 00
2.11
paid for
Cost per $1,000 of assets
.
.
Rent
-
Other
Expenses
$230.70
1.52
Advertising
$69 .30
.46
Total
$620 00
4.09
.
BOSTON — THE MT. WASHINGTON CO-OPERATIVE BANK
445
WEST BROADWAY (SOUTH BOSTON DISTRICT)
Incorporated June 20, 1893.
Michael
J.
Began business June
21, 1893
John M. Shea, Treasurer
Murray, President
Board of Directors: J. F. Creed, C. A. Curtis, R. N. Daley, T. J. Giblin, R. A. Grimes, F.
Logan, M. J. Logan, F. W. Lyons, Francis Magurn, C. P. Mooney*. M. J. Mullen, M.
Shea, Alfred Smart, J. T. Sullivan.
J.
J.
Hannon*, E. L.
Murray*, J. M.
Regular meeting for 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
Due from trust companies and na
tional banks
Cash and cash items
Loans
Loans
Loans
Loans
17, 1928
Liabilities
,674,950 00
40,880 00
13,070 00
460 00
5,400 00
6,749 05
270 00
61,397 84
6,028 74
Dues capital
Profits capital
Matured share
00
89
00
00
40
45
92
90
00
343 58
$1,808,544
358,271
1,257,400
223,600
1,537
78,830
51,900
8,957
3
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Security committee
Personal accounts
Dividends on matured share
.
.
certifi-
17,033 99
cates
Dividends on paid-up share
cates
2,782 50
$3,809,205 63
$3,809,205 63
* Security
certifi-
Committee.
—
40
P.D.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
series issued in
Holders
28
765
Matured during year
New
Members
Members who
8,369
6,157
.
February,
M
8,
Part
3,134
1,083
are borrowers
of:
Unmatured shares
Matured share certificates
38,253
20,467
ay, August, No-
III.
Paid-up share
vember.
2,684
881
176
certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
iy %;
8
1%%;
Certificates
second term, 1|Hj%; third term,
1%%.
fourth term,
Paid-up Share Certificates
second term, 134%; third term,
First term, 1}4%',
1M%-
1H%', 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
Rates and Averages on Loans
923
,982 each; average rate, 5.98%):
real estate loans (average,
5%, $15,400;
5V2 %,
$137,700;
6%,
$3 521 850
290 share loans (average, $141 each; average rate, 6%)
53 loans on matured share certificates : 6%, $13,070.
2 loans on paid-up share
certificates:
6%,
:
6%, $40,880
$460.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
3,962.00
$2,000.00
1.83
.53
Other
Expenses
Advertising
$4,019.28
1.05
Total
$12,981.28
3.41
BOSTON — NODDLE ISLAND CO-OPERATIVE BANK OF EAST BOSTON
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. Bagley, Robert 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, C. E. McGinn, J. S. Murray*, A. J. Porter*, A. J. L.
Rausch, C. A. Rollins, A. L. Tallman, J. W. Veader.
Regular meeting for receipt
of
moneys the second Wednesday
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
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Temporary expense account
.
$543,830 00
11,538 00
5,335 00
200 00
5,753 47
55 00
Due from
trust companies and na
banks
Cash and cash items
tional
10, 1928
Dues
capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
31,717 00
365 34
Interest
Premiums
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
Personal accounts
Other liabilities
Overs and shorts
.
$598,793 81
$598,793 81
* Security
.
$275,716 00
54,859 59
220,400 00
13,200 00
51 77
10,724 53
15,890 72
6,339 23
46 11
150 97
50
680 47
525 21
60 00
121 30
4 00
23 41
Committee.
—
P.D.
8,
41
Part III.
Membership
Serial Shares
1,674
Issued during year
1,076
Withdrawn during year
27
Forfeited during year
144
Matured during year
6,438
Shares in force
3,183
Shares now pledged
September,
Dein
March,
June,
issued
series
New
cember.
.
.
Members
Members who
Holders
of:
are borrowers
—
Unmatured shares
Matured share certificates
.
Paid-up share certificates
639
255
.
.
.
.
.
.
572
178
.
.
15
Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, 1M%; second term, 13^%; third term,
1H%;
1%%.
fourth term,
First term,
1H%:
Paid-up Share Certificates
second term, 1%%; third term,
1M%;
1M%-
fourth term,
15% on
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; after 8 years, none.
series
Rates and Averages on Loans
198 real estate loans (average, $2,747 each; average rate, 6.94%): 6%, $30,480; 7%, $513,350.
45 share loans (average, $256 each; average rate, 7%): 7%, $11,538.
4 loans on matured share certificates: 7%, $5,335.
1 loan on paid-up share certificates
7%, $200.
:
Total Expenses for Year
Rent
Advertising
$400.00
$35.00
.67
.06
Salaries
Amount paid
$1,500.00
2.50
for
per $1,000 of assets
Cost
.
Other
Expenses
$911.96
Total
},846.96
4.75
1.52
BOSTON — THE NORTH DORCHESTER CO-OPERATIVE BANK
39
SAVIN HILL AVENUE (DORCHESTER DISTRICT)
Incorporated July 20, 1907.
Began business August
20, 1907
John M. Donovan, President
Daniel
Daly, Treasurer
J.
of Directors: J. J. Broderick*, W. J. Burke, H. A. Carey, D. J. Daly, W. D. Desmond, Jr., J. S. Donahue,
M. Donovan, M. J. Driscoll*, W. P. Gafney, P. F. Gallahue, T. J. Gorman, W. H. Kehoe*. C. J. Lavis,
F. X. Moritz, D. G. Slattery.
Board
J.
Regular meeting 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
Due from trust companies and national banks
Cash and cash items
.
.
16,
.
....
20,400 00
23,167 00
3,150 00
6,142 19
21,333 55
....
....
....
.....
....
Dues capital
Profits capital
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
Personal accounts
Dividends on matured share
.....
ficates
Dividends on paid-up share
cates
.
Shares in force
Shares now pledged
New
series issued in
00
93
00
00
16,402 91
13,291 53
7,200 00
22 00
3,656 37
certifi-
690 00
.
$974,192 74
Membership
Serial Shares
Issued during year
$506,825
98,304
274,200
53,600
certi-
$974,192 74
Withdrawn during year
Matured during year
1928
Liabilities
2,736
1,670
406
10,412
5,312
February, May, August, No-
Members
Members who
.
Holders
.
.
are borrowers
.
.
.
.
.
.
.
.
.
.
858
255
of:
Unmatured shares
Matured share certificates
.
Paid-up share certificates
677
173
36
vember.
Profits Distributed
Unmatured Shares and Matured Share
First term,
1
A%;
3
1%%;
second term,
fourth term,
First term,
Certificates
third term,
1%%.
Paid-up Share Certificates
second term, 134%; third term,
1M%;
1M%; fourth term, 1%%.
Proportion of profits retained on voluntary withdrawals, none.
* Security Committee.
1%%;
—
P.D.
42
Rates and Averages on Loans
185 real estate loans (average, $4,975 each; average rate, 5.96%): 5J^%,
65 share loans (average, $356 each; average rate, 6%): 6%, $23,167.
7 loans on matured share certificates: 6%, $3,150.
6%,
),100;
8,
Part III.
$854,300.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
.
Salaries
Rent
$3,257.98
3.34
$573.50
.59
$118.50
Other
Expenses
$572.63
Total
$4,522.61
.12
.59
4.64
Advertising
BOSTON — PIONEER CO-OPERATIVE BANK
BROMFIELD STREET
36
Incorporated July 26, 1877.
Began business August
6,
1877
William D. Eldredge, Treasurer
Walter H. Roberts, President
W.
Herbert
Lewis, Assistant Treasurer
Board of Directors: W. H. Bain, E. E. Bridge, W. D. Eldredge*, W. S. Fracker*, J. T. Kaler, P. B. Roberts,
W. H. Roberts, C. C. Swett*, F. C. Toward*, Joseph Uttley, R. S. Wentworth* F. A. Wyman, H. L
Young*.
Regular meeting for receipt of moneys the
first
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Common
....
real estate
shares
1,
1928
Liabilities
matured share certificates
paid-up share certificates
form mortgages
.
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
.
....
$1,836,650 00
23,000 00
7,700 00
950 00
15,600 00
111,423 09
1,150 03
161 63
Dues capital
Profits capital
,497 00
Matured share
166,344 34
805,600 00
168,800 00
certificates
Paid-up share certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
530 03
Interest
74,991 68
24,671 45
59
78
6,211
48,077
50,380
11,307
Fines
Transfer fees
15
18
557 88
1 50
182 43
7.700 00
108 00
.
Withdrawal profits
Due on uncompleted loans
Security committee
$2,096,297 88
$2,096,297 88
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in April, October.
3,164
2,595
.
776
....
Members
Members who
Holders
1,626
are borrowers
.
435
.
.
1,032
.
.
.
.
of:
Unmatured shares
Matured share certificates
1,069
16,847
9,984
.
.
Paid-up share
certificates
564
132
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%;
First term,
2y2 %;
Proportion of profits retained on voluntary withdrawals,
none.
20%
on
second term,
Certificates
2%%.
Paid-up Share Certificates
second term, 2%%-
series less
than 8 years old; after 8 years,
Rates and Averages on Loans
367
real estate loans (average, $5,004 each;
average rate, 5.99%):
$4,800.
76 share loans (average, $303 each; average rate, 6%):
8 loans on matured share certificates: 6%, $7,700.
2 loans on paid-up share certificates : 6%, $950.
6%,
5^%,
$15,050;
6%,
$1,816,800;
7%,
$23,000.
Total Expenses for Year
Salaries
Amount
pa,id for
.
Cost per $1,000 of assets
$4,398.96
2.10
Other
Expenses
Rent
Advertising
$725.85
$461.99
£2,509. 15
5,095.95
.35
.22
1.19
3.86
* Security Committee.
Total
—
P.D.
8,
43
Part III.
BOSTON
REAL ESTATE CO-OPERATIVE BANK
WATER STREET
7
(Other authorized locations for receipt of moneys: Atlantic National Bank, Post Office Square
and 238 Huntington Avenue)
Incorporated February
William
J.
9,
1920.
Began business March
20, 1920
Dorothy R. Ballard, Acting Treasurer
Keville, President
Board of Directors: C. J. Bliss, W. E. Chamberlain, W. C. Codman, D. J. Cronin*, A. D. Dowd*, R. G. Jones*,
W. J. Keville*, H. F. Mason, W. J. McDonald, J. P. Merrill, E. K. Newhall, A. L. Richmond, I. H. Rosenbaum, Frank Ross*, J. M. Rothwell, C. R. Tuckett, Frederick Viaux*, W. C. Weeks*, C. H. Welch, Willard
Welsh, Henry Whitmore, Arnold Whittaker, Lombard Williams.
Regular meeting 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
Liabilities
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Common form mortgages
Real estate by foreclosure, etc.
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
$2,911,100 00
67,050 00
300 00
00
40
60
28
509 51
282 86
22,600
26,340
51
2,261
.
.
Personal accounts
Due from
.
trust companies
25, 1928
and na
banks
Cash and cash items
tional
46,668 56
56 16
Dues capital
Profits capital
Paid-up share
$2,267,749
409,851
302,200
6,010
28,741
14,724
32,695
certificates
Forfeited share account
Guaranty fund
.
Surplus
.
Withdrawal profits
Due on uncompleted loans
Security committee
$3,077,220 37
Membership
Serial Shares
Issued during year
17,840
10,262
166
56,380
17,729
.
Forfeited during year
Shares in force
Shares now pledged
New
series issued in
01
93
07
542 61
2 25
131 62
13,715 00
856 50
Interest
Fines
Transfer fees
$3,077,220 37
Withdrawn during year
00
96
00
42
Members
Members who
Holders
3,388
812
are borrowers
of:
Unmatured shares
Paid-up share
3,247
233
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
X
1^4%; second term, \ A%\
fourth term,
2 %.
First term,
1M%;
First term,
1H%;
W
third term,
Paid-up Share Certificates
second term, 1J4%; third term,
1M%;
fourth term,
1%%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
646 real estate loans (average, $4,506 each; average rate, 7%): 7%, $2,911,100.
166 share loans (average, $404 each; average rate, 7%): 7%, $67,050.
1 loan on paid-up share certificates: 7%, $300.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$4,930.65
1.60
.
Rent
$1,820.65
.59
Other
Expenses
$930.75
55,973. 16
Total
$13,655.21
.30
1.95
4.44
Advertising
BOSTON — ROSLINDALE CO-OPERATIVE BANK OF BOSTON, MASS.
748
SOUTH STREET (ROSLINDALE DISTRICT)
Incorporated
George
Board
W.
March
7,
1898.
Began business April
20,
P. Babb, President
of Directors: F.
M.
Frank M. Aldrich, Treasurer
W.
W.
P. Babb*, Georgina H. Cleary, W. L. Donohoe, J. A. Johnson, W. T.
Reth, E. L. Sawyer, H. A. Schmidt, A. K. Spaulding, F. R. Woodman*.
Aldrich*, G.
Kirley, R. O. Pacht, J.
1898
Regular meeting for receipt
of
moneys the fourth Wednesday
* Security
Committee.
of
each month.
—
44
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
on real estate
on shares
on matured share certificates
on paid-up share certificates
Furniture and fixtures
trust companies
Dues capital
Profits capital
,111,900 00
19,075 00
2,910 00
III.
.
$622,240
121,264
314,800
109,800
129
Matured share
Paid-up
860 00
429 00
539 40
.
Temporary expense account
Part
Liabilities
Loans
Loans
Loans
Loans
Due from
8,
24, 1928
certificates
share certificates
Forfeited share account
Guaranty fund
and na
18,463
21,540
5,747
86
63
2,400
12
Surplus
tional banks
Cash and cash items
59,030 63
21,802 37
Interest
Fines
.
Withdrawal profits
Due on uncompleted loans
Security committee
$1,216,546 40
00
26
00
00
40
72
46
25
24
07
00
00
$1,216,546 40
Membership
Serial Shares
.....
Members
Members who
Issued during year
3,448
Withdrawn during year
1,955
Matured during year
629
Shares in force
13,059
Shares now pledged
6,576
New series issued in January, April, July, October.
Holders
are borrowers
1,257
310
.
of:
Unmatured shares
Matured share certificates
1,096
249
84
.
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
second term,
V'AsP/o',
l 5Xe%'>
1^%.
lVfe%; fourth term,
Matured and Paid-up Share
First term,
1M%;
fourth term,
Certificates
1M%;
134%; second term,
1M%-
third term,
third term,
Proportion of profits retained on voluntary withdrawals, 20%.
Rates and Averages on Loans
800 real estate loans (average, $3,706 each; average rate, 5.97%: 5%, $21,250; 5)^%, $9,000; 6%, $1,081,650.
136 share loans (average, $140 each; average rate, 6%) 6%, $19,075.
16 loans on matured share certificates : 6%, $2,910.
2 loans on paid-up share certificates : 6%, $860.
:
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$4,619.88
3.80
$725.78
$166.35
.60
.13
Other
Expenses
$1,750.75
1.44
Advertising
Total
;7,262.76
5.97
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
John F. Mungovan, President
1,
1889
Clarence E.
MacKay,
Treasurer
Board of Directors: Wm. Armstrong, H. G. Bean, F. C. Bleiler* W. F. Bleiler, J. G. Cleary, W. F. Collins, H. E.
Hoffman, J. T. Hosford, T. F. Hunt*, G. E. Jacobs, S. R. Keith, D. J. Kelly, Charles Liffler, C. E. MacKay,
R. A. MacLellan*, H. F. Malley, J. F. Mungovan, J. F. Murphy, S. J. Rantin*, F. W. Rugg, A. E. Taylor,
A. K. Williams.
Regular meeting for receipt of moneys,
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
Unpaid interest
Due from trust companies and national banks
Cash and cash items
3,
1928
Liabilities
,329,085 00
26,505 00
1,625 00
2,806 43
Dues
$884,736 00
183,423 76
251,200 00
1,015 94
7,986 15
39,182 87
28,094 36
3,600 00
capital
Profits capital
Matured share certificates
Forfeited share account
Matured share account
.
.
42,180 44
3,317 21
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on matured share
cates
$1,405,519 08
* Security Committee.
.
.
certifi
6,280 00
$1,405,519 08
——
P.D.
8,
45
Part III.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in May, November.
3,866
2,693
31
.
575
18,072
7,929
.....
Members
Members who
1,399
are borrowers
.
422
Unmatured shares
Matured share certificates
.
1,345
183
Holders
of:
Profits Distributed
Unmatured Shares
3%; second
First term,
23^%; second term,
term,
Matured Share
Proportion of profits retained on voluntary withdrawals,
332
10% on
series less
Certificates
A%.
2X
than 6 years old; after 6 years, none.
Rates and Averages on Loans
5%, $32,850;
,003 each; average rate, 5.96%):
real estate loans (average,
3%.
First term,
5^%,
6%, $1,200,510;
$58,625;
6J^%, $37,100.
87 share loans (average, $304 each; average
3 loans on matured share
certificates
:
6%,
rate,
6%): 6%, $26,505
$1,625.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
.
Salaries
Rent
$4,150.00
2.95
$290.00
$50.00
.21
.03
Advertising
Other
Expenses
BOSTON — SHAWMUT CO-OPERATIVE BANK OF DORCHESTER
1769
J.
IN
BOSTON
DORCHESTER AVENUE (DORCHESTER DISTRICT)
Incorporated December 29, 1913.
Daniel
Total
$5,586.13
3.97
$1,096.13
.78
Began business January
19,
1914
Thomas Rush,
Gallagher, President
Treasurer
Board of Directors: S. T. Archer, W. E. Costello, H. R. Crane* J. E. Daley, D. J. Gallagher, Edith Jameson,
E. W. Jameson* G. H. Kelley, A. J. Mahan, T. A. Mitchell, A. R. Nicolle, J. E. Nolan, W. J. Ogar, T. F.
Quinn* Thomas Rush, G. L. Starks, J. F. White.
Regular meeting for receipt of moneys the third
Monday
each month.
of
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
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 interest
Temporary expense account
Due from
trust companies
00
00
00
00
7,236 28
1,035 00
279 98
$560,700
15,645
4,555
150
.
and
Dues capital
Profits capital
$274,473
47,115
228,800
31,200
87
3,258
2,350
3,479
66
9,266
Matured share
Paid-up share
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
1,394 62
9,440 77
Fines
....
Due on uncompleted
loans
Security committee
Personal accounts
.
Membership
Serial Shares
Issued during year
2,483
Withdrawn during year
1,766
Forfeited during year
47
Matured during year
436
Shares in force
7,211
Shares now pledged
3,426
New series issued in January, April, July, October.
.
.
.
.
.
.
...
....
.
.
41
$600,436 65
$600,436 65
.
00
50
00
00
90
96
47
43
53
6 00
332 45
Interest
na>
tional banks
Cash and cash items
.
15, 1928
.
.
.....
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
682
194
of:
Paid-up share
certificates
585
186
22
Profits Distributed
Unmatured Shares and Matured Share Certificates
1%%; second term, 1^8%; third term?
First term,
1^%;
fourth term,
1^%.
Paid-up Share Certificates
First term, 134%; second term, 1M%; third term,
1M%;
fourth term,
1H%-
Proportion of profits retained on voluntary withdrawals, none.
* Security Committee.
46
P.D.
Rates and Averages on Loans
,280 each; average rate, 6.30%): 5J£%,
131 real estate loans (average,
1414,400.
85 share loans (average, $184 each; average rate, 6%):
7 loans on matured share certificates: 6%, $4,555.
1 loan on paid-up share certificates : 6%, $150.
8,
Part III.
6%, $140,300;
5,000;
6J^%,
6%, $15,645
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
.
$3,134.22
5.22
$360.00
$27.40
Other
Expenses
$473.68
.60
.04
.79
Rent
Advertising
Total
$3,995.30
6.65
BOSTON — SOUTH BOSTON CO-OPERATIVE BANK
362
BROADWAY (SOUTH BOSTON
Incorporated June 11, 1913.
William H.
DISTRICT)
Began business June
21, 1913
John H. Casey, Treasurer
Griffin, President
Board of Directors: J. J. Callahan, J. H. Casey, G. J. Conners, W. H. Griffin*, W.
J. A. Hopkins, F. J. Horgan, F. W. Horgan* E. V. Keating, John McGrath*
han, D. F. O'Keefe, P. E. A. Sheridan, C. G. Stream, W. H. Taylor.
Monday
Regular meeting for receipt of moneys the third
P. Hickey, E. L. Hopkins*,
J. B. Meehan, F. J. Mona-
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
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Temporary expense account
Due from
trust companies
15, 1928
.
00
00
00
00
1,728 66
236 99
$199,625
10,100
380
200
banks
Cash and cash items
Matured share
Paid-up share
$143,445 00
24,049 85
23,400 00
19,800 00
1,005 89
5,020 50
3,738 95
6,100 06
1,868 16
70 98
24 96
116 36
certificates
certificates
Forfeited share account
Matured share account
Guaranty fund
and na
16,367 24
2 82
tional
Dues capital
Profits capital
Surplus
Interest
Fines
.
Withdrawal
Due on
profits
foreclosure sale
$228,640 71
$228,640 71
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
1,924
869
20
72
3,780
1,260
Members
Members who are borrowers
Holders
of:
.
.
.
—
Unmatured shares
Matured share certificates
.
Paid-up share
certificates
.
.
.
.
.
.
.
.
.
401
157
368
18
22
March, June, September, De
cember.
Profits Distributed
Unmatured Shares and Matured and Paid-up
Share Certificates
second term, \\i%\ third term,
fourth term, 1M%-
First term,
1M%;
1M%;
Proportion of profits retained on voluntary withdrawals, 20% on series less than 4 years old;
4 to 6 years old; after 6 years, none.
10% on series from
Rates and Averages on Loans
118 real estate loans (average, $1,690 each; average rate, 6%): 5^%, $6,100; 6%, $193,525.
37 share loans (average, $273 each; average rate, 6%): 6%, $10,100.
1 loan on matured share certificates : 6%, $380.
1 loan on paid-up share certificates: 6%, $200.
Total Expenses for Year
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
$800.00
3.50
Rent
Advertising
$240.00
$20.00
1.05
.09
* Security Committee.
Other
Expenses
$781.51
3.41
Total
L.841.51
8.05
—
P.D.
8,
Part
III.
806
Incorporated
Edgar
November
TREMONT STREET
8, 1921.
Began business November
8,
1921
Jesse Goode, Treasurer
P. Benjamin, President
Board of Directors : E. P. Benjamin*,
J. B. Hall, Mildred B. Joyner, D.
Jr.,
47
BOSTON — SOUTH END CO-OPERATIVE BANK
T. G. Schuyler* C.
J.
J.
M.
Burrell, W. J. Fubler, J. B. Goddard, Jesse Goode*, C. H. Greene,
W. L. Leach, E. V. Roundtree, E. Z. Roundtree*, A. P. Russell,
Klugh,
Shepherd, G. A.
S.
Tell, C. S.
Winter.
Regular meeting for receipt of moneys the second Thursday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
.
$131,220 00
12,920 00
100 00
850 00
Dues
00
03
00
53
1,797 01
capital
Profits capital
Paid-up share
$107,499
18,897
15,600
2,220
certificates
Forfeited share account
.
Guaranty fund
3,081 76
1,744 65
Surplus
2,917 41
Due on uncompleted
Personal accounts
cates
700 00
68 17
37 26
loans
.
Other liabilities
Dividends on paid-up share
certifi
180 00
.
$149,916 41
$149,916 41
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New series issued in February,
1928
Liabilities
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Furniture and fixtures
Due from trust companies and national banks
Cash and cash items
.
11,
399
664
50
2,213
1,013
....
Members
Members who
Holders
are borrowers
410
94
.
of:
Unmatured shares
415
27
Paid-up share certificates
May, August, NoProfits Distributed
vember.
Unmatured Shares
First term,
1H%;
1%%;
second term,
fourth term,
1%%;
Paid-up Share
Certificates
First term,
1J4%; second term, 1}£%',
1M%;
1M%.
fourth term,
third term,
1M%third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
48 real estate loans (average, $2,733 each; average rate, 6^%): 6*4%, $131,220.
52 share loans (average, $248 each; average rate, 6H%): 6%%, $12,920.
1 loan on paid-up share certificates : 6%%,
Total Expenses for Year
Salaries
Amount
$300.00
2.00
paid for
Cost per $1,000 of assets
.
Rent
Advertising
$342.09
2.28
$78.04
.52
Other
Expenses
$653.31
4.35
Total
L,373.44
9.15
BOSTON — SUFFOLK CO-OPERATIVE BANK
44
BROMFIELD STREET
Incorporated December 11, 1885.
Began business January
John A. Havey, President
1,
1886
Ernest A. Hale, Treasurer
Board of Directors: W. R. Anderson, R. D. Birch, H. A. Gilman, G. R. Glendining, J. A. Grace, E. A. Hale,
J. A. Havey*, E. W. Hunter*, J. H. Miley, C. S. Patten^, H. W. Prout, H. A. Stockwell, A. M. Wyman.
Regular meeting for receipt of moneys second
* Security Committee.
Monday
of
each month.
—
48
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
82,120
17,430
4,780
97,303
9,200
5,000
3,000
.
....
....
.....
Dues
,489,200 00
.
capital
Profits capital
00
00
00
99
00
00
00
•
.
$2,264,830
400,821
1,539,200
477,800
.
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Surplus
Due on uncompleted
loans
...
Dividends on matured share
152,943 58
14,576 17
cates
certifi-
18,935 92
.....
.
Dividends on paid-up share
00
87
00
00
90 52
58,890 33
39,337 60
69,675 00
.
Guaranty fund
cates
certifi-
5,972 50
$4,875,553 74
$4,875,553 74
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
Part III.
1928
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
Common form mortgages
Unpaid interest
Furniture and fixtures
Due from trust companies and na
tional banks
Cash and cash items
Loans
Loans
Loans
Loans
Bonds
8,
8,
Membership
.....
Members
Members who are borrowers
13,594
10,313
10
1,144
52,037
26,165
Holders
4,667
1,176
of:
Unmatured shares
Matured share certificates
Paid-up share
3,726
1,157
.
368
certificates
May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured and Paid-up
Share
First term,
1M%;
Certificates
1}4%; second term, \\i%;
fourth term,
third term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
864 real estate loans (average, $5,196 each; average rate, 5.98%): 5H%, $110,750; 6%, $4,378,450.
432 share loans (average, $190 each; average rate, 6%): 6%, $82,120.
41 loans on matured share certificates : 6%, $17,430.
13 loans on paid-up share certificates : 6%, $4,780.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$16,614.96
3.41
.
BOSTON
Other
Expenses
Advertising
4,740.53
.97
$2,772.33
57
Total
$8,144.64
1.67
12,272.46
6.62
— TELEPHONE WORKERS
119
MILK STREET,
Incorporated March 20, 1925.
CO-OPERATIVE BANK
ROOM 109
Began business April
Charles F. Donahoe, President
30,
1925
William B. Brigham, Treasurer
Charles F. Donahoe, Assistant Treasurer
Board of Directors: William Brennan, W. B. Brigham, W. L. Broder, Lillian F. Capeless, R. C. Colby, J. J.
Coughlan, H. B. Crawford, Chester Crispin, C. F. Donahoe, Rolland Farnham, F. D. Field*, E. G. Horrigan, C. E. Lovejoy, J. R. McLeish*, T. F. Moore, C. H. Morgan, Josephine L. Reynolds, H. W. Sawyer*
E. L. Shanney, Frances Van Tassel, A. E. Whiton,
Regular meeting for receipt of moneys
last business
day
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
....
Loans on real estate
Loans on shares
Temporary expense account
Overs and shorts
Due from trust companies and national banks
Cash and cash items
.
.
31, 1928
Liabilities
.
.
$247,000 00
10,010 00
80 22
1 00
5,796 09
316 95
Dues
capital
Profits capital
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
.
....
.....
Interest
Fines
Withdrawal profits
Security committee
Other liabilities
Suspense
1,511 11
45
82
20
218
46
75
00
92
1,162 71
$263,204 26
$263,204 26
* Security
....
00
43
00
00
1,090 87
1,208 01
$216,167
20,205
21,400
92
Committee.
P.D.
8,
49
Part III.
Membership
Serial Shares
1,828
1,885
Issued during year
Withdrawn during year
.
77
Forfeited during year
Members
Members who
Holders
—
.
.
.
.
140
...
Unmatured shares
7,977
1,998
series issued in January, April, July, October.
Shares in force
Shares now pledged
New
of:
875
are borrowers
Paid-up share certificates
861
10
Profits Distributed
Unmatured Shares
second term, 1H%;
fourth term, 1)4%.
First term, lJ-^%;
1H%;
First term,
1H%;
Proportion of profits retained on voluntary withdrawals,
none.
20%
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
fourth term,
on
third term,
series less
1M%-
than 5 years old; after 5 years,
Rates and Averages on Loans
$4,186 each; average rate, 6.40%): 6 2 /6%, $247,000.
81 share loans (average, $124 each; average rate, 6.40%): 6 2 A%, $10,010.
59 real
estate loans (average,
Total Expenses for Year
Rent
Salaries
Amount paid
Cost
Advertising
$83.00
$566.00
2.11
for
per $1,000 of assets
.
Other
Expenses
$83.33
.31
Total
$722.33
2.74
.32
BOSTON — TRIMOUNT CO-OPERATIVE BANK
73
TREMONT STREET
(Other authorized locations for receipt of moneys: 156 Maverick Street, East Boston, and 178 Blue
Hill
Incorporated
May
Avenue, Roxbury)
18, 1911.
Began business June
12,
Frank A. Teele, President
1911
George H.
Wyman,
Treasurer
Board of Directors: F. L. Brier*, V. D. Caldwell, W. F. Casey*, Crescenzo De Simone, K. S. De Witt*, W. B.
Grant, B. E. Holland, Herman Hormel, G. A. C. Knight, J. F. McDermott, E. J. Owen, E. F. Power, L. H.
^ Robbins, W. T. H. Salter, F. A. Teele*, J. W. Webber, H. C. Whitcomb, G. F. Wollinger, G. H. Wyman,
W.
F.
Wyman.
Regular meeting 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.
Furniture and fixtures
Temporary expense account
.
.
.
,732,975 00
.
.
.
Other assets
Due from trust companies and
tional banks
Cash and cash items
.
.
.
8,
1928
Liabilities
.
62,018
17,265
1,780
17,251
2,242
3,043
522
00
00
00
Matured share
Paid-up
certificates
share certificates
63
63
13
Forfeited share account
08
Interest
ni
.
Dues capital
Profits capital
Guaranty fund
Surplus
Fines
Transfer fees
.
65,149 58
10,577 22
Withdrawal
Bills
profits
payable for money borrowed
Due on uncompleted
Security committee
Personal accounts
.
Other
liabilities
$3,912,824 27
* Security Committee.
loans
$1,401,998
242,978
1,772,600
295,200
00
10
00
00
717 84
39,236 71
52,355 03
36,305 81
1,123 91
4 £0
263 16
30,000 00
31,427 43
362 50
7,529 04
722 24
$3,912,824 27
—
50
P.D.
Membership
Serial Shares
Issued during year
Withdrawn during year
12,203
6,884
124
1,575
38,167
22,990
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
Members
Members who
8,
Part
III.
are borrowers
3,419
1,026
Unmatured shares
Matured share certificates
2,721
1,482
.
Holders
.
.
.
of:
Paid-up share
270
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
1%,%; second term, 1%,%; third term,
First term,
1%%;
fourth term,
1
%%.
Paid-up Share Certificates
First term, 1M%; second term, 134%; third term,
1M%;
fourth term,
Proportion of profits retained on voluntary withdrawals,
20%
on
1M%.
real estate loans only.
Rates and Averages on Loans
1,006 real estate loans (average, $3,711 each; average rate, 6.40%): 6%, $205,475;
846 share loans (average, $179 each; average rate, 6%): 6%, $62,018.
46 loans on matured share certificates : 6%, $17,265.
9 loans on paid-up share certificates: 6%, $1,780.
6%%,
5,527,500.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$8,100.60
2.07
.
.
Rent
Advertising
Other
Expenses
$2,630.38
$770.95
$2,896.54
.67
.20
.74
Total
$14,398.47
3.68
BOSTON — UNION CO-OPERATIVE BANK OF BOSTON
73
TREMONT STREET
(Other authorized location for receipt of moneys: Industrial Bank and Trust Company, 1762 Washington Street, Boston)
Incorporated June 30, 1911.
Edward E. Ginsburg,
Began business September
13,
1911
Morris Bernstein, Treasurer
President
Board of Directors: Morris Bernstein*, Benjamin Darena, S. S. Dean*, A. R. Frederick, Gabriel Giarla, E. E.
Ginsburg*, R. P. Greene, R. G. Hall*, T. C. Horgan, Van Courtlandt Lawrence, Thomas Nutile, Warren
Patten* G. G. Phair, M. J. Sawyer, William Selden.
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
.
10,
.
.
$395,670 00
15,770 00
4,500 00
6,467 27
583 82
22 75
Dues
capital
Profits capital
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Guaranty fund
Surplus
33,718 61
1,918 70
Interest
Fines
Transfer fees
.
Withdrawal profits
Security committee
Reserve fund
$458,651 15
* Security Committee.
00
70
00
00
00
27
02
85
30
1 25
217 46
36 00
197 30
$235,749
47,551
146,400
15,200
294
4,972
3,570
4,300
161
$458,651 15
——
P.D.
8,
Part
51
III.
Membership
Serial Shares
975
961
43
Forfeited during year
190
Matured during year
5,706
Shares in force
2,456
Shares now pledged
New series issued in March, June, September, December.
Issued during year
Withdrawn during year
.
.....
Members
Members who
Holders
are borrowers
495
118
.
of:
Unmatured shares
Matured share certificates
.
Paid-up share certificates
.
.
.
.
407
122
.
.
13
Profits Distributed
First term,
Unmatured Shares
13^%; second term, 1%%',
1X%;
1H%.
fourth term,
Matured Share
second term, 1%,%; third term,
fourth term, 1%%.
Paid-up Share Certificates
second term, 134%; third term,
1M%;
First term,
1H%1
Certificates
1^%;
First term,
iy8 %;
third term,
fourth term,
1M%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 6 years old;
from 6 to 7 years old; 5% on series from 7 to 8 years old; after 8 years, none.
15% on
series
Rates and Averages on Loans
92 real estate loans (average, $4,300 each; average rate, 6.54%): 6%, $27,900; 6H%, $310,720;
48 share loans (average, $328 each; average rate, 6.30%): 6%, $6,370; 6M%, $9,400.
2 loans on matured share certificates : 6J^%, $4,500.
7%,
$57,050.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
51,122.00
.
2.45
Rent
$26.35
Other
Expenses
$458.79
;2,487.96
.06
1.00
5.43
Advertising
$880.82
1.92
Total
BOSTON — THE UPHAMS CORNER CO-OPERATIVE BANK
COLUMBIA ROAD (DORCHESTER DISTRICT)
585
Incorporated January
Frank L.
4,
1928.
Began business January
4,
1928
Raymond
Brier, President
E. Bolles, Treasurer
Board of Directors: L. S. Bearse, R. E. Bolles, F. L. Brier, L. W. Eddy, H. S. Frost*, A. J. Gillie, J. M. Healey,
Ralph Lowe, Jr., J. J. Mahoney, A. L. McMahon, P. I. Minard* B. H. Modest, H. L. O'Neil, Abraham
Papp, William Phillips, O. D. Rollins, H. G. Sawyer, C. M. Stilphen, J. L. Taylor, Jr.*, L. M. Wilbur,
G. H. Wyman.
Regular meeting for receipt of moneys the second
Monday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
Liabilities
....
....
Loans on real estate
Loans on shares
Furniture and fixtures
Due from trust companies and national banks
Cash and cash items
$39,000 00
260 00
729 41
6,722 50
573 77
Dues
$41,551 00
743 43
4,400 00
31 74
capital
Profits capital
Paid-up share certificates
Guaranty fund
Surplus
37 03
493 00
24 58
75
4 15
Interest
Fines
Transfer fees
.
Withdrawal
profits
$47,285 68
$47,285 68
Membership
Serial Shares
Issued during year
Withdrawn during year
Shares in force
Shares now pledged
.
.
.
5,223
.
.
.
394
....
New
series issued in
.
1928
.
.
4,829
235
March, June, September, De-
Members
Members who are borrowers
Holders
505
12
of:
Unmatured shares
502
Paid-up share certificates
6
cember.
Profits Distributed
Unmatured Shares
Second term,
2%%;
Second term,
2^%;
third term,
Paid-up Share
Certificates
third term,
Proportion of profits retained on voluntary withdrawals, 20%.
* Security Committee.
2%%.
2J^%.
—
P.D.
52
8,
Part III.
Rates and Averages on Loans
8 real estate loans (average, $4,875 each; average rate, 6.5,0%):
4 share loans (average, $65 each; average rate, 6%): 6%, $260.
6K%,
139,000.
Total Expenses for Year
Salaries
Amount paid
Rent
Other
Expenses
Advertising
Total
for
per $1,000 of assets
Cost
.
BOSTON— VOLUNTEER CO-OPERATIVE BANK
260
TREMONT STREET
(Other authorized locations for receipt of moneys: Old Colony Trust Company, 17 Court Street,
52 Temple Place, 169 Summer Street, Boston)
Incorporated
John
J.
November
16, 1887.
Began business January
1888
James B. Dooley, Treasurer
Delea, President
May
1,
B. Grant, Assistant Treasurer
W. B. Buckley, H. G. Burgess, J. F. Crowley, J. J. Delea, J. J. Devereux,
T. A. Fitzgerald, W. A. Leonard*, D. F. McCormack*. O. T. O'Leary, E. J. Ripley,
Rudd*. Thomas Rush*, A. H. Sibley.
Board of Directors: George Adams,
J. B.
J. J.
W.
Dooley,
Regular meeting for 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
Real estate by foreclosure, etc.
Furniture and fixtures
.
Personal accounts
1928
Liabilities
Loans
Loans
Loans
Loans
Temporary expense account
Insurance and taxes paid
17,
.
.
trust companies and na
banks
Cash and cash items
$11,782,225
234,700
40,300
3,600
7,800
37,324
13,542
3,261
664
97
00
00
00
00
00
37
40
60
Dues capital
Profits capital
53
50
Interest
tional
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Matured share account
307,668 79
6,989 50
.
....
.
Guaranty fund
Surplus
Fines
.
.
.
.
00
01
00
00
18
13
00
47
95
30
00
814 00
404 65
.....
Due on uncompleted
Due from
$6,133,627
1,170,470
4,137,600
448,800
2,089
22,563
366,400
68,760
59,240
1,604
25,800
loans
Security committee
Personal accounts
.
$12,438,173 69
$12,438,173 69
Membership
Serial Shares;
36,229
Issued during year
28,734
Withdrawn during year
796
Forfeited during year
3,426
Matured during year
139,029
Shares in force
68,176
Shares now pledged
April,
October.
July,
New series issued in January,
.
....
Members
Members who
Holders
are borrowers
13,340
3,772
.
of:
Unmatured shares
Matured share certificates
10,755
3,312
.
Paid-up share certificates
360
Profits Distributed
Unmatured Shares and Matured Share
First term,
1%%;
1%%;
second term,
fourth term,
1%%.
Paid-up Share
First term,
1M%;
Certificates
third term,
Certificates
134%; second term,
fourth term,
1%%;
1%%.
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
3,288 real estate loans (average, $3,583 each; average rate, 6%) 5%, $1,400;
2,226 share loans (average, $105 each; average rate, 6%): 6%, $234,700.
81 loans on matured share certificates : 6%, $40,300.
9 loans on paid-up share certificates: 6%, $3,600.
:
5H%, $62,900; 6%, $11,717,925.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$23,482.00
1.89
* Security
Rent
Advertising
$5,069.69
.41
Committee.
$2,869.26
.23
Other
Expenses
$7,994.94
.64
Total
19,415.89
3.17
—
P.D.
8,
Part III.
53
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,
18S1.
Began business March
1881
3,
Frank
Francis A. Morse, President
S.
Mason, Treasurer
Roger W. Nutt, Assistant Treasurer
Board of Directors: W. K. Burlen, W. F. Cook, C. R. Gow, H. L. Hammond, I. G. Hersey, Jr.*, C. L. Hill,
R. M. Hull*, A. W. Joslin* W. M. Kingman, F. S. Mason, F. A. Morse, C. J. Nichols, W. A. Parsons,
E. L. Prescott, Benjamin Proctor.
Regular meeting for receipt of moneys the
Thursday
first
each month.
of
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.
Unpaid interest
Insurance and taxes paid
Other assets
Due from trust companies and na
tional banks
Cash and cash items
,485,350 00
76,000
3,650
2,600
6,300
86,427
17,500
216
9,121
.
00
00
00
00
53
00
Dues capital
Profits capital
Matured share
certificates
16
Paid-up share certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
94
Due on uncompleted
53,316 68
20,066 17
45 15
86 34
loans
.
Other liabilities
Dividends on matured share
certifi
21,608 27
Dividends on paid-up share
certifi
3,033 50
cates
$4,875,436 17
$4,875,436 17
Membership
Serial Shares'
Issued during year
23,213
16,111
851
2,518
55,930
25,507
August, No-
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
series
issued in February,
00
75
00
00
257 12
1,854 83
78,697 36
.
.
Personal accounts
176,383 46
11,887 08
$2,341,755
436,515
1,655,600
262,600
cates
New
1928
Liabilities
Loans
Loans
Loans
Loans
.
4,
May,
.....
Members
Members who
Holders
4,899
are borrowers
1,401
of:
Unmatured shares
Matured share certificates
Paid-up share
vember.
3,819
1,189
199
.
certificates
Profits Distributed
Unmatured Shares
First term, VAt>%\ second term,
l 7/fe%; fourth term, V/m%.
Matured Share
Paid-up Share
1H%;
Proportion of profits retained on voluntary withdrawals,
none.
15% on
series less
l 5/f6
%;
third term,
Certificates
1}4%\ second term,
fourth term,
i%; third term,
Certificates
First term, l 5/f6%; second term,
l 5/r6%; fourth term, 16/16%.
First term,
l 7/
1M%;
third term,
1M%-
than 6 years old; after 6 years,
Rates and Averages on Loans
1,183 real estate loans (average, $3,792 each; average rate, 6.40%): 5%, $35,550;
$435,150; 6M%, $3,863,600.
297 share loans (average, $256 each; average rate, 6.48%): 5%%, $950; 6%, $1,400;
19 loans on matured share certificates: 63^%, $3,650.
19 loans on paid-up share certificates : 6J^%, $2,600.
5^%,
$151,050;
6%,
63^%, $73,650.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of
.
.
a,ssets
$14,182.35
2.91
* Security
Rent
Advertising
$4,118.74
$2,278.13
.84
.47
Committee.
Other
Expenses
$7,026.07
1.44
Total
$27,605.29
5.66
—
54
P.D.
BOSTON
8,
Part III.
WORKINGMEN'S CO-OPERATIVE BANK
73
CORNHILL
(Other authorized locations for receipt of moneys: Old Colony Trust Company, 17 Court Street;
52 Temple Place; 167 Summer Street, and 83 Massachusetts Avenue; National Shawmut
Bank, 69 Beacon Street; Park Square Building, 542 Commonwealth Avenue; 28 Harrison
Avenue; 28 Haymarket Square; Revere Building, Bowdoin Square; 239 Trernont Street, and
248 Huntington Avenue; Beacon Trust Company, 89 State Street, Boston.)
Incorporated June
9, 1880.
Began business June
11,
1880
Frank E. Burbank, Treasurer
James D. McLellan, President
Warren A. McCorrison,
Assistant Treasurer
Board of Directors: A. T. Baker, C. L. Billman, D. M. Blair*, J. W. Blaisdell, F. E. Burbank, G. B. Doane,
J. E. Gaskin*, Gay Gleason, L. A. Haskell, J. D. McLellan, S. N. Miller*, C. M. Nichols*, R. J. Rodday*.
R. B. Tyler, E. W. Vinal, Frank Vogel, J. W. Webb, L. O. White.
Regular meeting 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 matured share certificates
Loans on paid-up share certificates
Bonds and notes
Common form mortgages
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
.
.
Temporary expense account
Insurance and taxes paid
Personal accounts
12, 1928
Liabilities
.
$18,693,505
431,750
21,700
19,650
342,633
5,125
150,090
538,098
5,873
19,633
168
00
00
00
00
07
00
46
56
64
50
17
447 22
.
Due from
trust companies and na
banks
Cash and cash items
tional
1,028,729 04
19,666 83
Dues capital
Profits capital
$12,206,285
2,101,917
4,020,800
1,920,200
10,629
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
17
1,600 52
.
....
....
.....
.
384,677
359,696
190,670
5,424
Interest
Fines
Transfer fees
Due on uncompleted
16
66,925
2,655
24
1,017
611
3,919
loans
Security committee
Personal accounts
.
Other liabilities
Due on foreclosure sales
Rent and income
.
.
64
08
19
57
50
00
00
04
50
88
65
$21,277,070 49
$21,277,070 49
Membership
Serial Shares
Issued during year
Withdrawn during year
00
75
00
00
53,897
48,032
.
Forfeited during year
1,852
6,892
Matured during year
254,735
109,506
New series issued in March, June, September, December.
Shares in force
Shares now pledged
Members
Members who
20,240
5,761
.
Holders
are borrowers
of:
Unmatured shares
Matured share certificates
Paid-up share
17,625
3,007
1,561
.
certificates
Profits Distributed
Unmatured Shares and Matured and Paid-up
Share
First term,
1M%;
Certificates
1M%", second term,
fourth term,
1M%;
third term,
1M%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
4,608 real estate loans (average, $4,057 each; average rate, 5.95%): 5%, $329,750; 5J4%, $317,650; 5%%,
$589,525; 6%, $17,456,580.
1,959 share loans (average, $220 each; average rate, 5.99%): 5%, $200; 5M%, $250; 5}4%, $600; 6%,
$430,700.
86 loans on matured share certificates: 6%, $21,700.
60 loans on paid-up share certificates : 6%, $19,650.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
.
Salaries
Rent
$58,785.23
2.76
$18,000.00
.85
* Security Committee.
$8,812.01
Other
Expenses
$14,398.40
.41
.68
Advertising
Total
$99,995.64
4.70
—
P.D.
8,
55
Part III.
BRAINTREE — THE
BRAINTREE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Braintree National Bank, Old Colony Trust
Company, 17 Court Street and 167 Summer Street, Boston)
Began business October
Incorporated June 24, 1889.
James H.
1889
15,
Charles B. Cummings, Treasurer
Kilbrith, President
Charles R. Cummings, Assistant Treasurer
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, 0. 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.
Regular meeting for receipt of moneys, 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.
Temporary expense account
Insurance and taxes paid
16, 1928
Liabilities
,896,150 00
9,680 00
650 00
.
trust companies and na
banks
Cash and cash items
Matured share
00
68
00
00
11 59
25,601 34
22,051 24
47,567 10
2,367 50
1,494 27
587 29
7,991 73
414 00
195 02
11 36
31 28
$861,152
178,857
738,400
72,600
certificates
18,982 84
2,995 06
354 16
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
18,236 46
12,284 88
Interest
Due from
tional
Dues capital
Profits capital
.
Premiums
Fines
.
Withdrawal profits
Due on uncompleted loans
Security committee
Personal accounts
.
Other liabilities
Overs and shorts
.
$1,959,333 40
$1,959,333 40
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in June, December
5,281
2,702
188
....
Members
Members who
816
17,542
10,387
1,565
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
483
of:
1,147
500
59
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
term,
Matured Share
Proportion of profits
3%.
Certificates
second term,
2%%.
Paid-up Share Certificates
First term, 2Y2 %; second term, 2Y2 %.
retained on voluntary withdrawals, 1 /e on series less than 8 years old; after 8 years
none.
Rates and Averages on Loans
489 real estate loans (average, $3,878 each; average rate, 6.30%): 6.3%, $1,896,150.
28 share loans (average, $346 each; average rate, 6.30%): 6.3%, $9,680.
3 loans on matured share certificates : 6.3%,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
BRIDGEWATER
Salaries
Rent
$5,981.15
3.05
$600.00
.31
— BRIDGEWATER
Alfred F. Field,
Jr.,
May
27, 1902.
$7,386. 18
.01
.40
3.77
J.
Strann at State Farm)
Began business June
16,
1902
Fred W. Capel, Treasurer
President
Board of Directors: G.
Total
CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: H.
Incorporated
$19.00
Other
Expenses
$786.03
Advertising
W. H.
J. Alcott,
Bassett, C. H. Bixby, J. A. Bowman, F.
B. F. Casey, S. B. Cholerton*, A. E. Cox, J. J. English, A. F. Field, Jr.*,
S. J. Kingston, Frederick Waite, B. E. Ward, R. W. White, A. H. Willis*.
Regular meeting for receipt
of
moneys the
* Security
third
Committee.
Monday
of
W.
J.
Capel,
Thomas
Carroll,
H. Jones, C. F. Jordan,
each month.
—
56
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Part III.
Liabilities
real estate
$466,840
5,625
400
140
897
shares
matured share
8,
15, 1928
certificates
paid-up share certificates
Temporary expense account
.
Paid-up share
54
Forfeited share account
Due from
trust companies and na
banks
Cash and cash items
Dues
00
00
00
00
capital
Profits capital
Matured share
certificates
certificates
Guaranty fund
tional
16,492 53
Surplus
126 37
Interest
00
$262,997
42,092
107,800
46,200
324
9,649
4,213
31
00
00
64
65
09
94
50
50
29
90
62
11,397
Fines
Transfer fees
324
Withdrawal profits
Due on uncompleted loans
225
.
1
Personal accounts
2,899
2,395
.
$490,521 44
$490,521 44
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in June, December.
1,348
749
30
322
.
....
Members
Members who
.
Holders
6,033
2,696
.
.
596
221
.
are borrowers
.
.
...
of:
Unmatured shares
Matured share certificates
.
.
Paid-up share
.
.
certificates
531
89
34
Profits Distributed
Unmatured Shares
3%; second
First term,
term,
3%.
Matured and Paid-up Share
A%;
First term, 2 l
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
second term,
Certificates
2^%-
than 5 years old; after 5 years,
series less
Rates and Averages on Loans
217 real estate loans (average, $2,151 each; average rate, 6%): 6%, $466,840.
32 share loans (average, $176 each; average rate, 6%): 6%, $5,625.
2 loans on matured share certificates: 6%, $400.
1 loan on paid-up share certificates : 6%, $140.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
.
Salaries
Rent
$1,469.13
2.99
$240.00
$77.25
.49
.16
Other
Expenses
$833.44
1.76
Advertising
Total
J.649.82
5.40
BROCKTON — CAMPELLO CO-OPERATIVE BANK
Incorporated October
Edward H.
3,
1877.
Began business October
8,
1877
William B. Nash, Treasurer
Keith, President
Board of Directors : L. H. Carr, 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, 3rd, C. E. Moore, W. B.
Nash, W. T. Packard, Lars Peterson, H. C. Ripley*, F. M. Wade, H. H. Williams.
Regular meeting for receipt of moneys the second
Monday
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
Real estate by foreclosure, etc.
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
8,
1928
Liabilities
.
....
.
Other assets
Due from trust companies and na
tional banks
Cash and cash items
00
00
00
00
800 00
49,512 89
70 50
$5,103,200
125,000
8,450
4,550
2,321 80
3,183 31
5,950 00
229,139 18
3,754 43
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
Other liabilities
46
101,519
40,640
25,787
00
10
00
00
78
46
39
81
783 61
3 00
397 82
24,108 00
3,141 14
$5,535,932 11
$5,535,932 11
* Security
$3,184,768
733,336
1,015,200
406,200
Committee.
—
P.D.
8,
Part III.
57
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in April, October.
.....
Members
Members who
12,441
7,911
.
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
280
2,203
60,926
30,260
4,695
1,918
of:
4,238
669
288
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
Matured Share
3%.
Certificates
First term,
2%%\
First term,
2J^%; second term, 2J^%.
second term,
Paid-up Share
2%%.
Certificates
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
1,635 real estate loans (average, $3,121 each; average rate, 6%): 6%, $5,103,200.
516 share loans (average, $242 each; average rate, 6%): 6%, $125,000.
16 loans on matured share certificates : 6%, $8,450.
8 loans on paid-up share certificates: 6%, $4,550.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$10,937.97
1.98
.
Other
Expenses
Advertising
$1,199.84
.22
$249.29
$2,533.79
.04
.46
Total
$14,920.89
2.70
BROCKTON — THE 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 August
1,
1911.
Began business September
14,
Walter E. Johnson, President
1911
Arvid E. Wetzell, Treasurer
Board of Directors: S. P. Alden, D. W. Battles, William Cochran, W. R. Cook, J. J. Cooper, J. L. Emery*,
J. H. Gordon, E. L. Gowdy, W. F. Hall*, W. E. Johnson, P. S. Jones, M. D. Long, W. L. Merrill, H. G.
Morse, 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.
Regular meeting for receipt of moneys the second Thursday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
1928
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
Furniture and fixtures
.
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
.
tional banks
Cash and cash items
11,
,482,200 00
32,060 00
5,995 00
645 00
4,829 25
158 88
90 00
1,375 67
331 19
48,227 10
1,047 41
Dues capital
Profits capital
Matured share
Paid-up
certificates
share certificates
Forfeited share account
.
Guaranty fund
Surplus
Interest
Transfer fees
Withdrawal profits
Due on uncompleted loans
Security committee
Personal accounts
$1,576,959 50
* Security Committee.
$700,876
145,929
478,600
155,400
44
27,077
28,639
00
92
00
00
00
96
18
8,159 15
2 25
498 40
31,592 08
30 00
110 56
$1,576,959 50
—
P.D.
Membership
58
Serial Shares
Issued during year
Forfeited during year
4,916
2,706
131
Matured during year
Shares in force
Shares now pledged
15,512
8,772
Withdrawn during year
New
series issued in
Members
Members who
Holders
8,
Part
1,482
are borrowers
561
of:
Unmatured shares
Matured share certificates
355
III.
Paid-up share
1,191
333
122
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, 1%%; second term, 13 8%; third term,
_
/
1H%\
fourth term,
iy8 %.
Paid-up Share
Certificates
134%; second term,
fourth term, 1J£%.
First term,
1H%\
1M%;
Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old;
from 5 to 8 years; after 8 years, none.
third term,
10% on
series
Rates and Averages on Loans
$3,088 each; average rate, 6%): 6%, $1,482,200.
128 share loans (average, $250 each; average rate, 6%): 6%, $32,060.
33 loans on matured share certificates : 6%, $5,995.
5 loans on paid-up share certificates : 6%, $645.
4.80 real estate loans (average,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
.
BROCKTON
Rent
$4,957.68
3.14
$649.50
$314.10
$1,456.90
.41
.22
.92
— SECURITY
Incorporated December
Other
Expenses
Salaries
17, 1877.
Advertising
Total
$7,408.27
4.69
CO-OPERATIVE BANK
Began business December
20,
Bernard B. Winslow, President
1877
Milton E. Smith, Treasurer
Ralph E. Colby, Assistant Treasurer
Board of Directors: C. R. Carleton, 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, J. J. Hurley, J. B. Nye, David Perkins,
H. A. Poole* F. N. Sherburne, M. E. Smith, G. A. Thatcher, E. M. Thompson, B. B. Winslow, F. T.
Youngquist.
Regular meeting 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.
Unpaid fines
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
.
.
.
$6,035,700
128,200
23„400
7,700
116,606
1,219
1,365
4,340
2,076
00
00
00
00
01
94
00
41
94
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Surplus
Interest
Transfer fees
Due on uncompleted
64,197 68
36,276 95
226
....
.....
.
Guaranty fund
Personal accounts
161,110
156,417
34,492
11
13,230
loans
205
.
series issued in
00
87
00
00
20
00
60
74
75
00
77
$6,421,082 93
Membership
Serial Shares
New
1928
$3,056,742
599,646
1,800,800
598,200
$6,421,082 93
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
18,
Liabilities
15,547
11,568
845
2,284
66,574
34,304
....
Members
Members who
Holders
are borrowers
.
6,264
2,023
.
5,143
1,290
of:
Unmatured shares
Matured share certificates
Paid-up share
582
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term, l;Hs%;
1M%;
second term,
fourth term,
l%%;
Matured and Paid-up Share
First term,
1M%;
Certificates
second term, 1}4%', third term,
IH%] fourth term, 1M%Proportion of profits retained on voluntary withdrawals, none.
* Security Committee.
third term,
l%%.
—
P.D.
Part
8,
59
III.
Rates and Averages on Loans
1,650 real estate loans (average, $3,658 each; average rate, 5.98%): bY2 %, $223,000; 6%, $5,812,700.
576 share loans (average, $222 each; average rate, 5.99%): 5^%, $1,280; 6%, $126,920.
57 loans on matured share certificates : 6%, $23,400.
16 loans on paid-up share certificates : 6%, $7,700.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$16,476.56
2.56
.
Rent
Other
Expenses
Advertising
4,215.27
.66
$2,499.40
.39
Total
$31,367.70
4.88
$8,176.47
1.27
BROOKLINE — BROOKLINE CO-OPERATIVE BANK
Incorporated March
John W.
13, 1895.
May
Began business
2,
1895
Anna N.
Shields, President
Mary
Patten, Treasurer
Corbett, Assistant Treasurer
S.
Board of Directors: 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 meeting for receipt of moneys the
Thursday
first
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
4,
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Bonds and notes
Real estate by foreclosure, etc.
Furniture and fixtures
Insurance and taxes paid
Other assets
Due from trust companies and na
tional banks
Cash and cash items
.
....
.
52,123,775 00
49,500 00
1,150 00
20,000 00
762 49
150 00
156 68
20 22
168,049 25
410 51
Dues capital
Profits capital
.
.
Matured share
.
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on matured share
....
.....
.....
cates
.
.
.
.
.
...
....
.
5,391 81
certifi-
2,275 00
$2,363,974 15
Membership
.
.
00
79
00
00
40
27
88
00
certifi-
Dividends on paid-up share
Serial Shares
.
225
39,247
20,396
24,300
.
$2,363,974 15
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
$1,391,520
271,017
427,600
182,000
.
cates
.
1928
.
.
6,003
3,575
99
905
29,545
11,644
Members
Members who
Holders
2,334
.
.
are borrowers
556
.
of:
Unmatured shares
Matured share certificates
Paid-up share
2,119
327
139
.
certificates
May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
z
First term, \ /%%;
second term, 1%%; third term,
1%%;
fourth term,
W %.
%
Paid-up Share Certificates
First term, 1)4%; second term, 1M%; third term,
1M%;
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, 25%.
Rates and Averages on Loans
482 real estate loans (average, $4,406 each; average rate., 5.99%): 5J^%, $42,950; 6%, $2,080,825.
147 share loans (average, $337 each; average rate, 6%)": 6%, $49,500.
8 loans on matured share certificates: 6%, $1,150.
Total Expenses for Year
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
$5,506.26
2.33
* Security
Rent
Advertising
.25
.42
Committee.
$56.10
.02
Other
Expenses
$3,296.66
1.40
Total
,9,846.27
4.17
—
60
BROOKLINE — COOLIDGE
P.D.
8,
Part III.
CORNER CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 209 Washington Street, Boston)
Incorporated June 23, 1920.
Began business June
23, 1920
James D. Henderson, President
George R. Slader, Treasurer
of Directors: W. D. Allen, Samuel Barkin, G. M. J. Bates*, A. M. Berger, S. E. Burke, B. G. Carlson,
A. J. Caulfield, Eric Courtney, A. P. Crosby*, J. C. Duane, R. C. Floyd, J. S. Hathaway, J. D. Henderson*, J. H. Henderson, J. H. King, P. M. Leavitt, M. D. Mealey, H. E. Page, W. W. Paige*, J. M. Pullman, Sydney Rabinovitz, G. H. Richardson, D. A. Rollins, H. A. Rutherford, Meyer Sawyer, G. R. Slader,
William Smith, Jr., E. H. Sondheim, W. H. Stevens, E. L. Sturtevant, J. E. Thomas, G. H. Wyman.
Board
Regular meeting 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
Insurance and taxes paid
Due from
trust companies
.
$621,000 00
37,995 00
666 71
6 60
.
.
and na-
banks
Cash and cash items
tional
17, 1928
Liabilities
24,598 86
1,378 48
.
Dues capital
Profits capital
.
.
$501,398
78,247
64,200
472
.
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
.
Fines
6,453
12,702
6,151
.....
Interest
.
.
.
.
.
.
.
276
payable for money borrowed
Due on uncompleted loans
Security committee
Overs and shorts
Bills
15,000
658
43
41
.
$685,645 65
$685,645 65
Membership
Serial Shares
Issued during year
2,606
Withdrawn during year
2,196
Shares in force
11,889
Shares now pledged
4,129
New series issued in March, June, September, December.
....
.
.
.
.
.
.
.
.
00
87
00
76
68
77
24
98
00
07
00
28
....
Members
Members who
Holders
are borrowers
767
163
.
of:
Unmatured shares
.
722
57
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
1H%;
1%%;
second term,
1%%.
fourth term,
Paid-up Share
First term,
1M%;
third term,
Certificates
1J4%; second term,
fourth term,
1%%;
1M%-
1M%!
third term,
Proportion of profits retained on voluntary withdrawals, none.
110 real
estate
loans
(average,
Rates and Averages on Loans
6.19%): 6%,
5,645 each; average rate,
$17,000.
89 share loans (average, $427 each; average rate, 6.08%)
:
6%, $37,590;
,800;
6^%,
6H%,
$175;
7%,
$204,200;
7%,
$230.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
.
Salaries
Rent
$1,530.00
2.23
$666.64
.97
$170.99
Other
Expenses
$607.69
52.975.-32
.25
.89
4.34
Advertising
Total
CAMBRIDGE — CAMBRIDGE CO-OPERATIVE BANK
Incorporated September
5,
1877.
Began business September
John P. McCormick, President
12,
1877
Fred
Donald N.
W.
Sleeper, Treasurer
Sleeper, Assistant Treasurer
J. Callahan*, J. S. Condinho, T. J. Conroy*, E. W. Coyle, T. F. Hurley, F. L. Kirchgassner, W. E. Knight, G. E. Lakschewitz, W. L. Laverty, E. J. Martin*, E. J. Martin, 2d, F. C. McBride, J. P. McCormick, Lorenzo Nocella, Henry Reno, D. N. Sleeper, F. W. Sleeper, C. J. Williams.
Board of Directors: F.
Regular meeting for receipt
of
moneys the second Wednesday
* Security
Committee.
of
each month.
—
P.D.
8,
Part
61
III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities
Assets
Loans on real estate
Loans on shares
Loans on matured share
1928
10,
$695,510 00
8,885 00
200 00
7,451 86
.
certificates
Real estate by foreclosure, etc.
Due from trust companies and national banks
Cash and cash items
....
$351,973 00
68,580 62
281,200 00
Dues
capital
Profits capital
Matured share
Guaranty fund
certificates
8,761 17
3,992 98
5,000 00
Surplus
10,881 18
313 67
Due on uncompleted
loans
45 00
Security committee
Dividends on matured share
cates
.
.
.
certifi
.
3,688 94
,
$723,241 71
$723,241 71
Sei rial S
Membership
hares
Issued during year
2,362
1,769
Withdrawn during year
Matured during year
416
Shares in force
Shares now pledged
New
series issued in
F jbrua ry,
M ay,
Members
Members who
Holders
are borrowers
of:
Unmatured shares
Matured share certificates
8,195
3,935
865
214
.
.
.
.
.
.
.
722
212
August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share
First term,
y %;
1
8
l%%;
second term,
fourth term,
1
Certificates
l%%\
third term,
%%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
179 real estate loans (average, $3,885 each; average rate, 6.43%): 6%, $89,600; 63^%, $605,910.
34 shareloans (average, $261 each; average rate, 6.50%): 6%, $190.; GH%, $8,695.
1 loan on matured share certificates : 6J^%, $200.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
$3,604.00
4.98
$230 00
32
Advert sing
$6 25
01
Other
Expenses
$796.07
1.10
Total
$4,636.32
6.41
CAMBRIDGE — CENTRAL SQUARE CO-OPERATIVE BANK
(.Other authorized location for receipt of
moneys: Harvard Trust Company, Harvard Square,
Cambridge)
Incorporated June 12, 1922.
Henry
Began business June
12,
1922
John D. Crowley, Treasurer
F. Ramhofer, President
Board of Directors: R. A. Ahern, S. A. Anderson, D. A. Buckley, J. A. Carrig*, J. D. Crowley, T. F. Downey,
H. H. Fiske, C. A. Geilfuss, F. J. Good, C. T. MacDonald, B. E. McDermott, E. F. O'Shea, Jr., Samuel
Pill, J. W. Powers*, H. F. Ramhofer, W. H. Reardon, Jr., J. E. Shea, J. J. Shine*, W. J. Whelan, J. F.
White* J. M. Whouley*.
Regular meeting 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 paid-up share
.
.
.
.
certificates
.
....
.
banks
1928
Liabilities
Temporary expense account
Due from trust companies and
tional
18,
$402,000
15,740
100
380
00
00
00
01
Dues
capital
Profits capital
Paid-up share certificates
Forfeited share account
Guaranty fund
na-
15,627 44
Surplus
Interest
Fines
.
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Bills
10,000 00
3,000 00
8 00
$433,847 45
$433,847 45
* Security
$326,829 00
39,649 70
43,000 00
1,348 04
2,783 52
3,588 21
3,336 21
124 22
180 55
Committee.
—
P.D.
Membership
62
Serial Shares
Issued during year
Members
Members who
1,804
1,490
Withdrawn during year
Forfeited during year
Shares in force
Holders
182
8,689
Shares now pledged
2,570
New series issued in March, June, September, December.
8,
Part III.
674
are borrowers
121
shares
633
47
of:
Unmatured
Paid-up share certificates
Profits Distributed
Unmatured Shares
1%%;
First term,
1%%;
1%%.
Paid-up Share
Proportion of profits retained on voluntary withdrawals,
25%
on
fourth term,
series less
third term,
Certificates
1M%;
134%; second term,
First term,
1M%;
\%%;
second term,
fourth term,
1M%.
third term,
10%
than 5 years old;
thereafter.
Rates and Averages on Loans
72 real estate loans (average, $5,583 each; average rate, 6%): 6%, $402,000.
49 share loans (average, $321 each; average rate, 6%): 6%, $15,740.
/ loan on paid-up share certificates : 6%, $100.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.75
.87
>1,847.70
.
4.25
$120.45
Other
Expenses
$825.89
5,175.79
.27
1.93
7.32
Advertising
Total
CAMBRIDGE — THE COLUMBIAN CO-OPERATIVE BANK OF CAMBRIDGE,
MASS.
(Other authorized location for receipt of moneys: Brown Durrell Company, 104 Kingston Street,
Boston)
Incorporated
May
6,
1892.
Began business June
6,
1892
Herbert H. Dyer, Treasurer
Sherman R. Lancaster, President
Buffum, W.
E. Burrage, H. H. Dyer, A. B. Fopiano, A. N. HederBoard of Directors: J. A. Blevins*, A. F.
stedt*, J. P. Kelley, S. R. Lancaster*, H. L. Lincoln*, H. B. Mclntire, C. H. Montague*, A. F. Pettingell, J.
E. Spilse,
J.
W.
Waters.
Regular meeting for receipt of moneys the second
Monday
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
Unpaid fines
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
8,
Liabilities
$749,475 00
17,845 00
3,875 00
350 00
2,823 00
4,225 68
430 32
2,641 65
....
....
....
Dues
capital
Profits capital
Matured share
Paid-up
certificates
share certificates
Guaranty fund
Surplus
.
Dividends on matured share
cates
.
.
Dividends on paid-up share
16,656 34
cates
.
.
.
New
series issued in
91
00
00
95
83
.
3,086 74
certifi.
.
1,603 34
$798,344 77
Membership
1,761
1,665
385
Shares in force
Shares now pledged
00
22 78
Serial Shares
Issued during year
$465,485
102,038
126,400
65,800
26,841
7,088
certifi-
.
$798,344 77
Withdrawn during year
Matured during year
1928
9,140
4,155
May, November
....
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
883
204
of:
Paid-up share
736
103
52
certificates
Profits Distributed
Unmatured Shares
First term,
2%%;
second term,
2%%.
Matured and Paid-up Share
First term,
2%,%; second term,
Proportion of profits retained on voluntary withdrawals, 25%.
* Security
Committee.
Certificates
2Y2 %.
-
P.D.
8,
Part
63
III.
Rates and Averages on Loans
183 real estate loans (average, $4,095 each; average rate, 5.96%): 5%, $32,650; 6%, $706,925;
45 share loans (average, $396 each; average rate, 6%): 6%, $17,845.
6 loans on matured share certificates: 6%, $3,875.
1 loan on paid-up share certificates: 6%, $350.
6K%>
$9,900.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
.
Salaries
Rent
$2,814.00
3.53
$602.64
$42.52
Other
Expenses
$314.47
.76
.05
.39
Advertising
Total
$3,773.63
4.73
CAMBRIDGE — INMAN CO-OPERATIVE BANK
Incorporated June
Charles
16, ,1913.
Began business July
1913
Edmund
President
S. Cahill,
7,
T. Howard, Treasurer
Board of Directors : J. J. Bovle, C. S. Cahill*, J. J. Canney, J. S. Cassedy, E. A. Counihan, Jr., A. B. Fopiano,
M. F. Groden, R. L. Ham, M. J. Harty*, E. T. Howard, J. H. Hurley, J. F. Kelley, Thomas Leighton,
A. E. Lynch*, G. F. McKelleget, L. T. Myles, J. H. O'Brien, D. F. Owens, J. J. Quinlan, F. F. Rogers,
Jr.,
E.
Coeur.
J. St.
Regular meeting for receipt of moneys the third
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
15, 1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Due from trust companies and naLtional banks
Cash and cash items
.
$2,156,800 00
53,743 00
4,475 00
205 57
648 03
417 57
Dues
$1,146,867
238,914
732,800
94,200
1,770
19,490
6,815
6,837
capital
Profits capital
.
Matured share
certificates
share certificates
Paid-up
Forfeited share account
Guaranty fund
Surplus
49,142 70
50 00
72
238 00
50
677 95
16,800 00
70 00
Interest
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
$2,265,481 87
$2,265,481 87
Membership
Serial Shares
Issued during year
Withdrawn during year
.
Forfeited during year
7,048
4,172
77
Matured during year
1,721
Shares in force
25,655
Shares now pledged
13,026
New series issued in January, April, July, October.
.
.
00
57
00
00
05
99
09
Members
Members who
2,247
are borrowers
675
Unmatured shares
Matured share certificates
1,815
Holders
of: —
Paid-up share
543
73
certificates
Profits Distributed
Unmatured Shares
First term,
1J^%; second term, 1/^%;
1>£%; fourth term,
Matured Share
First term,
\Y% %;
1%%;
1%%;
third term,
Certificates
134%; second term,
fourth term,
1%%;
1%%.
Paid-up Share
First term,
Certificates
second term,
fourth term,
third term,
VA%.
1M%;
third term
1M%-
Proportion of profits retained on voluntary withdrawals, 25%.
Rates and Averages on Loans
447 real estate loans (average, $4,825 each; average rate, 6%): 6%, $2,155,600; 7%, $1,200.
220 share loans (average, $244 each; average rate, 6%): 6%, $53,743.
8 loans on matured share certificates: 6%, $4,475.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$5,253.00
2.32
Rent
Advertising
$817.29
$91.20
.36
.04
* Security Committee.
Other
Expenses
$1,901.91
.84
Total
$8,063.40
3.56
,
64
P.D.
8,
Part
III.
NORTH CAMBRIDGE CO-OPERATIVE BANK
CAMBRIDGE
(Other authorized location for receipt of moneys: 424 Massachusetts Avenue, Lexington)
Incorporated June 27, 1912.
Began business July
9,
1912
Edward
John McKenzie, President
Griffin, Treasurer
S. P. Bowen, H. C. Brown, H. E. Clark, J. J. Conley, J. W. Connor*, J. B. Dore, O. C.
I. Freeburn, Isidore Gottesman, Edward Griffin, J. H. Harrington, T. E. Kennedy, John D.
D. Lynch, T. W. Lynch, C. O. Mason, F. X. Masse, John McKenzie*, P. J. Nelligan, James
Proudfoot, L. J. Reynolds, E. L. Tyler, A. E. Viano, F. E. Viano*.
Board of Directors:
Francis*, T.
Lynch*,
J.
Regular meeting for receipt of moneys the second Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
$2,
Dues capital
Profits capital
00
00
00
00
6,319 96
666 99
12 50
676,200
73,066
4,184
750
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
trust companies and na
banks
Cash and cash items
$1,304,958
254,330
951,400
225,400
4,985
31,483
14,124
14,508
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
Due from
Interest
25,641 25
31,081 99
tional
'
.
360
30
Fines
Withdrawal profits
Due on uncompleted loans
Security committee
Personal accounts
Other
13,241
435
535
.
2,130
liabilities
$2,817,922 69
Membership
.....
Members
Members who
Issued during year
10,940
6,112
159
Forfeited during year
Matured during year
2,480
31,165
Shares in force
Shares now pledged
15,901
April,
July, October.
New series issued in January,
.
....
.
00
39
00
00
97
41
26
32
37
37
40
00
20
00
$2,817,922 69
Serial Shares
Withdrawn during year
1928
Liabilities
real estate
shares
matured share certificates
paid-up share certificates
.
9,
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
.
Paid-up share
2,633
760
.
2,114
650
.
199
certificates
Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, \V%%; second term, \ %A%; third term,
iys %;
fourth term,
First term,
1M%;
Proportion of profits
retained on voluntary withdrawals,
25%
on
l%%.
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
fourth term, \\i%.
series less
than 3 years old; after 3 years,
none.
Rates and Averages on Loans
594 real estate loans (average, $4,505 each; average rate, 6%): 6%, $2,676,200.
150 share loans (average, $487 each; average rate, 6%): 6%, $73,066.
IS loans on matured share certificates: 6%, $4,184.
.3 loans on paid-up share certificates : 6%, $750.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
55,770. 50
2,120.01
2.05
.75
Advertising
$136.40
Other
Expenses
$2,636.38
.94
.05
Total
$10,663.29
3.79
CAMBRIDGE — RELIANCE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 553 and 2074 Massachusetts Avenue)
Incorporated July 16, 1889.
Began business July
16,
1889
Edward W. White,
Fred L. Beunke, President
Treasurer
Harry R. Andrews, Assistant Treasurer
Board of Directors: F. L. Beunke*, A. S. K. Clark, J. F. Downey, S. T. Gano, R. C. Grovestein* A. W. Haines,
J. W. Hunnewell, H. F. Peak*, C. F. Pierce, E. A. Snow, W. H. Sprague, S. I. B. Stodder, J. F. Sullivan,
E.
W.
White.
Regular meeting for receipt
of
moneys the second Wednesday
* Security Committee.
of each
month.
P.D.
8,
Part
65
III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities
Assets
I
|
on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Real estate by foreclosure, etc.
Banking house
Loans
Loans
Loans
Loans
.
....
....
Unpaid
10, 1928
interest
Furniture and fixtures
$4,094,475
92,250
25,635
2,605
5,709
8,684
89,800
13,248
Dues capital
Profits capital
00
00
00
00
Matured share certificates
Paid-up share certificates
Forfeited share account
14
11
.
Guaranty fund
Surplus
00
33
1,700 00
1,416 30
796 12
301 70
Temporary expense account
Insurance and taxes paid
.....
Other assets
Overs and shorts
Due from trust companies and national banks
Interest
Withdrawal profits
Due on uncompleted loans
Security committee
....
Personal accounts
44 00
943 38
.
570 19
$4,384,957 00
Membership
Serial Shares
Issued during year
Forfeited during year
244
Matured during year
1,176
....
New
Members
Members who
11,027
8,176
.
Holders
of:
4,199
1,305
— are borrowers
Unmatured shares
Matured share certificates
48,075
24,395
series issued in January, April, July, October.
.
10
1,953 10
$4,384,957 00
Shares in force
Shares now pledged
12
00
50
47,752 96
Cash and cash items
Withdrawn during year
00
78
00
00
406 96
25
413 81
Fines
Transfer fees
13 15
.
$2,221,065
435,500
1,323,800
220,200
2,603
147,000
9,856
21,170
.
Paid-up share
.
3,529
941
177
certificates
Profits Distributed
Unmatured Shares
First term,
1
A%;
3
1%%;
second term,
fourth term,
Matured Share
First term,
5
l /f6
%;
First term,
Proportion of profits retained on voluntary withdrawals,
956
real estate loans (average,
l 6/fc%\
third term,
Certificates
second term,
fourth term,
1%%;
1%%.
l s/fc%;
third term,
\V^%.
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
1M%; fourth term, 1M%25% on series less than 5 years
Rates and Averages on Loans
average rate, 5.96%): 5%, $16,075; 5Vb%,
,282 each;
old;
$350.;
10%
thereafter.
5M%,
$266,675;
6%,
$3,811,375.
817 share loans (average, $112 each; average rate, 6%):
50 loans on matured share certificates: 6%, $25,635.
4 loans on paid-up share certificates : 6%, $2,605.
6%,
$92,250.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
CANTON
Rent
$9,771. 69
52,027.70
$490.16
2.23
46
11
— CANTON
Incorporated January
Other
Expense
Salaries
10, 1891.
Advertising
$2,658. 19
.61
Total
1,947.74
3.41
CO-OPERATIVE BANK
Began business February
10,
1891
James E. Grimes, Treasurer
John B. Robinson, President
Board of Directors: R. J. Baldwin, F. H. Bisbee, E. C. Britton*, H. B. Capen, 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* O. P. Wolfe.
Regular meeting for receipt of moneys the second Tuesday of each month.
* Security Committee.
66
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
9,
Part III.
1928
Liabilities
....
....
Loans on real estate
Loans on shares
Common form mortgages
Temporary expense account
Due from trust companies and national banks
Cash and cash items
Dues capital
Profits capital
,088,150 00
Forfeited share account
Matured share account
837 02
Guaranty fund
Surplus
21,395 56
5,274 73
Interest
Premiums
'
.
Withdrawal profits
Due on uncompleted loans
$1,156,147 31
$1,156,147 31
Serial Shares
Membership
Issued during year
Members
Members who
2,643
1,466
Withdrawn during year
Matured during year
Holders
684
Shares in force
Shares now pledged
of:
1,295
— are borrowers
463
Unmatured shares
16,068
6,509
February, August.
series issued in
06
95
07
1 75
613 90
8,500 00
.
Fines
Transfer fees
New
00
06
00
24
08
20
$856,237
191,715
15
29,648
29,384
22,312
16,281
904
534
.
40,440 00
50 00
1,295
Profits Distributed
Unmatured Shares
First term, 3 1 /io%; second term, 3 l /io%.
Proportion of profits retained on voluntary withdrawals, 25%.
Rates and Averages on Loans
878 real estate loans (average, $2,878 each; average rate 6.30%): 6 3 /io%, $1,088,150.
86 share loans (average, $470 each; average rate, 6.30%): 6 3 /io%, $40,440.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
CHELSEA
Salaries
Rent
$2,000.00
1.73
$300.00
— CHELSEA
.26
Total
$3,202.79
2.77
.78
CO-OPERATIVE BANK
(Other authorized location for receipt of moneys:
Incorporated October 25, 1910.
Other
Expenses
$902.79
Advertising
Room
12,
Pemberton
Began business November
Fred A. Pitcher, President
2,
Bldg., Boston)
1910
George
I.
M. Hayes,
Treasurer
Board of Directors: G. H. Akins, J. E. Beck, M. J. Casey*, J. M. Curley, T. F. Driscoll, W. S. Fracker*. J. H.
Gilmore, G. I. M. Hayes, C. S. Hobart, Eben Hutchinson, G. A. Johnson*, B. P. Nicholls, F. E. Parlin,
F. A. Pitcher, Clarence Richmond, S. H. Robie, Abram Salter, David Walper, R. S. Wentworth, C. A.
West, C. H. Wilbar.
Regular meeting 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
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Insurance and taxes paid
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
....
.
•
.
3,
1928
Liabilities
$890,400 00
20,645 00
1,000 00
4,465 89
3,256 91
413 49
50 07
7 28
Dues capital
Profits capital
.
Matured share
Paid-up share
Forfeited share account
Guaranty fund
Surplus
.
.
.
loans
.
.
Dividends on paid-up share
$939,943 60
* Security Committee.
.
.
$116,595
76,218
375,400
27,600
839
no
72
00
00
12
13,749 66
12,787 12
11,249 73
.
Dividends on matured share
cates
,
.
Due on uncompleted
cates
.
certificates
certificates
Security committee
18,726 55
978 41
.
.
135 00
.
certifi.
5,024 25
certifi-
345 00
$939,943 60
P.D.
8,
Part
67
III.
Membership
Serial Shares
Issued during year
Withdrawn during year
4,603
3,101
Ill
.
Forfeited during year
.
.
Matured during year
Shares in force
Shares now pledged^
New
series issued in
617
10,191
5,220
Members
Members who
1,018
are borrowers
385
Unmatured shares
Matured share certificates
858
311
23
Holders
of:
—
Paid-up share
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares
V/^%; third term,
First term, l 7/f6 %; second term,
l 7/fe%; fourth term, V/^%.
Matured Share
First term,
1%%;
second term,
fourth term, 1%%.
Paid-up Share
First term,
1M%;
Certificates
1%%;
third term,
Certificates
1M%
\\i%; second term,
fourth term,
1%%\
1M%.
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
380 real estate loans (average, $2,698 each; average rate, 6.09%): 6%, $794,050; 7%, $96,350.
57 share loans (average, $362 each; average rate, 6%): 6%, $20,645.
2 loans on matured share certificates: 6%, $1,000.
Total Expenses for Year
Salaries
Amount
$3,156 00
3 36
paid for
Cost per $1,000 of assets
.
CHELSEA
— THE
Rent
Other
Expenses
Advertising
$576 59
$331 55
35
61
$1,051.89
1.12
Total
$5,116.03
5.44
PROVIDENT CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 108 Water Street, Boston; 377 Washington
Avenue, Chelsea; Horace Memorial Hall, Webster Avenue, Chelsea)
Incorporated September 25, 1885.
Began business September
28, 1885
Walter L. Martin, President
Charles W. Gould, Treasurer
Board of Directors: A. B. Atwood, W. B. Denison, C. W. Gould, W. D. Grover*, E. K. Hamill, G. E. Hutchins*.
T. M. Killick, B. T. Martin, W. L. Martin, R. O. Rockwell, Jr.*, H. M. Russell, J. F. Tierney, E. H.
Walker.
Regular meeting for receipt of moneys the fourth Monday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Bonds and notes
Real estate by foreclosure, etc.
Insurance and taxes paid
Overs and shorts
Due from trust companies and
tional banks
22, 1928
Liabilities
$1,615,300
52,800
93,802
27,621
101
00
00
19
34
06
20 00
.
38,922 34
Dues capital
Profits capital
$1,083,743
236,214
411,000
8,000
60
34,361
39,992
3,510
.
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Personal accounts
Other liabilities
Dividends on matured share
.
...
61
92
71
00
200 00
64 20
.
cates
00
49
00
00
certifi
11,220 00
Dividends on paid-up share
certifi
200 00
cates
$1,828,566 93
$1,828,566 93
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in May, November.
3,496
1,936
57
939
20,594
9,587
Members
Members who
1,805
— are borrowers
508
Unmatured shares
Matured share certificates
1,690
Holders
of:
Paid-up share
314
6
certificates
Profits Distributed
Unmatured Shares
First term, 2
A%;
1
second term,
Matured Share
First term,
2%%;
2M%-
Certificates
23^%; second term, 2Yi%.
retained on voluntary withdrawals, 25%.
First term,
Proportion of profits
Certificates
second term,
Paid-up Share
2%%.
* Security Committee.
68
P.D.
8,
Part III.
Rates and Averages on Loans
X
437 real estate loans (average, $3,696 each; average rate, 5.90%) 5M%, $650; 5 A%,
$29,250; 6%, $1,585,400.
109 share loans (average, $484 each; average rate, 6%): 6%, $52,800.
:
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Advertising
),342.00
$720.00
$897.95
3.47
.39
.49
Total
$2,641.28
1.44
$10,601.23
5.79
CHELSEA— VICTORY CO-OPERATIVE BANK
Incorporated February 24, 1920.
Thomas
Began business March
8,
1920
Daniel H. Sullivan, Treasurer
F. Driscoll, President
James Bloomberg, W. F. Callahan, J. J. Carroll, T. F. Driscoll*, J. J. Foley, G. W. Ford*
C. A. Malone, J. J. McBride, D. J. McCarty, C. J. McDonough, W. J. Murdock, J. F. Murphy, J. L.
Murphy, F. W. Proctor, Julius Rosenberg, Abram Salter, Joseph Slotnick, J. M. Smith, Daniel H. Sullivan*, D. Henry Sullivan, J. F. Sullivan, Maurice Tobey, E. J. Voke.
Board
of Directors:
Regular meeting 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 paid-up share
certificates
.
Temporary expense account
Due from
trust companies and nabanks
Cash and cash items
tional
8,
1928
Liabilities
$332,975 00
12,650 00
70 00
29.75
....
....
....
Dues
Paid-up share
certificates
Forfeited share account
Guaranty fund
4,588 60
13 85
Surplus
Interest
Fines
.
.
3,889
9,594
3,792
70
.
.....
Withdrawal
229
profits
payable for money borrowed
Due on uncompleted loans
Security committee
5,000
Bills
300
15
$350,327 20
$350,327 20
Membership
Serial Shares
Issued during year
1,142
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New
series issued in
00
92
00
78
89
66
29
29
37
00
00
00
$263,702
46,402
16,600
730
capital
Profits capital
724
5
5,565
2,285
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Paid-up share
479
148
.
...
.
470
20
.
'.
.
certificates
March, June, September, De-
cember.
.
.
Profits Distributed
First term,
iy8 %;
Unmatured Shares
\V%%\ second term, 1%%;
fourth term,
Paid-up Share
First term,
1M%;
Certificates
\\i%; second term,
fourth term,
Proportion of profits retained on voluntary withdrawals, 25% on series
to 8 years old; after 8 years, none.
less
third term,
\%%.
\%%\
third term,
1H%15%
than 5 years old;
on
series 5
Rates and Averages on Loans
6^%,
109 real estate loans (average, $3,056 each; average rate, 6.42%): 6%, $191,000;
38 share loans (average, $333 each; average rate, 7%): 7%, $12,650.
1 loan on paid-up share certificates: 7%, $70.
$3,500;
7%,
$138,475.
Total Expenses for Year
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
$1,000.00
2.85
Rent
Advertising
$480.00
$169 95
1.37
.48
Other
Expenses
$290.21
.82
Tota
1
$1,940. 16
5.
52
CHESTER — CHESTER CO-OPERATIVE BANK
Incorporated December 31, 1923.
Began business January
1924
Alfred E.
Frank Fay, President
Board
10,
Hemenway,
Treasurer
of Directors: J. E. Cooney, S. J. Donnelly*, Frank Fay, A. E. Hemenway, J. H. Keefe, C. F. Pease*,
J. L. Ripley, Thomas Rose*, L. N. Smith, W. H. Stevens, M. W. Terrill.
Regular meeting for receipt of moneys the second Thursday of each month.
* Security Committee.
P.D.
Part III.
8,
69
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
Temporary expense account
Due from
trust companies and nabanks
Cash and cash items
tional
Dues capital
Profits capital
$62,900 00
3,143 00
245 00
4,450 80
31 29
$56,799 00
5,126 47
6,400 00
446 68
820 63
1,589 89
88 18
25
35 95
1,169 50
5 00
.
Paid-up share certificates
Guaranty fund
Surplus
Interest
Fines
Transfer fees
1,550 53
1G0 93
.
Withdrawal profits
Due on uncompleted loans
Security committee
$72,481 55
$72,481 55
Membership
Serial Shares
Issued during year
Withdrawn during year
1928
Liabiltes
....
....
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Real estate by foreclosure, etc.
11,
....
.
Forfeited during year
Shares in force
Shares now pledged
New series issued in January, July.
Members
Members who
305
393
25
Holders
of:
200
50
— are borrowers
Unmatured shares
1,558
447
190
Paid-up share certificates
12
Profits Distributed
Unmatured Shares and Paid-up Share
First term,
Proportion of profits retained on voluntary withdrawals,
25%
Certificates
2Y2 %.
2}i%; second term,
of the last dividend.
Rates and Averages on Loans
32 real estate loans (average $1,966 each; average rate, 6%): 6%, $62,900.
18 share loans (average, $175 each; average rate, 6%): 6%, $3,143.
1 loan on paid-up share certificates: 6%, $245.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
Advertising
-
$175.00
2.41
-
Other
Expenses
$128.50
1.78
Total
$303 50
4 19
CHICOPEE — ALDENVILLE CO-OPERATIVE BANK
Incorporated July 31, 1920.
Lionel
J.
Began business September
1920
1,
Joseph C. Drapeau, Treasurer
Dugas, President
Board of Directors: Frank Auchter, J. O. Beauchamp, Homer Cartier, G. A. Charpentier, A. J. Croteau, Edward Denette, Joseph Desmarais, Symphorien Desrochers*, C. E. Drapeau, J. C. Drapeau, L. J. Dugas,
A. O. Gilbert, J. J. Harnisch, George Laroche, H. J. Lavoie, Alfred Menard, Nicolas Nadeau*, C. E.
Poirier, Amedee Robert, E. H. Sittard*, O. J. Terrien, Amherst Theroux.
Regular meeting for receipt of moneys the last Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
Loans on real estate
Loans on shares
Due from trust companies and national banks
Cash and cash items
26, 1928
Liabilities
$78,700 00
2,925 00
....
....
....
Dues capital
Profits capital
Paid-up share
2,578 69
804 82
certificates
Forfeited share account
.
Guaranty fund
Surplus
Due on uncompleted
loans
Dividends on paid-up share
cates
certifi
90 00
$85,008 51
$85,008 51
* Security
00
04
00
47
1,800 00
2,345 00
1,500 00
$60,859
10,635
7,200
579
Committee.
70
P.D.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New
....
....
....
....
<
series issued in
8,
Part
Members
Members who
388
239
Holders
17
1,363
of:
165
37
— are borrowers
Unmatured shares
475
Paid-up share
III.
163
certificates
11
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares
First term,
1M%;
1J^%; second term,
IK%.
fourth term
Paid-up Share
First term,
1X%;
1^%;
third term,
Certificates
V/i%\ second term, 1J4%;
third term,
IK%.
fourth term,
Proportion of profits retained on voluntary withdrawals, 100% on series less than 1 year old; 50% on series
from 1 to 2 years old; 25% on series from 2 to 3 years old; after 3 years, none.
Rates and Averages on Loans
28 real estate loans (average, $2,811 each; average rate, 6%): 6%, $78,700.
9 share loans (average, $325 each; average rate, 6%): 6%, $2,925.
Total Expenses for Year
Rent
Salaries
Amount
$550.00
6.47
paid for
Cost per $1,000 of assets
.
Other
Expenses
$482.00
5.67
Advertising
$73.48
.86
Total
$1,105.48
13.00
CHICOPEE — CHICOPEE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: King's Drug Store, Chicopee Falls)
Incorporated June 12, 1909.
Frederick
M.
Began business August
3,
1909
Joseph R. Hastings, Treasurer
Nichols, President
Board of Directors: F. M. Beesley*, N. B. Carter, James Crompton, S. E. Fletcher, F. C. Flint, J. R. Hastings,
J. B. Higgins, H. L. Holt, J. P. Kirby, C. A. Ludden*, E. F. McDonnell, F. M. Nichols*, E. J. O'Neil, Jr.,
J. A. O'Rourke, P. C. Pond, W. H. Trumbull, Samuel Weiner.
Regular meeting for receipt of moneys the
first
Tuesday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
2,
Liabilities
....
on real estate
on shares
on matured share certificates
on paid-up share certificates
.
Real estate by foreclosure, etc.
Temporary expense account
Taxes paid
Due from trust companies and national banks
.....
.
....
$636,350 00
25,116 00
5,400 00
175 00
4,761 90
1,701 56
231 60
....
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
....
.....
.
.
.
.
Interest
25,128 37
Fines
Transfer fees
Withdrawal profits
Due on uncompleted loans
Other liabilities
Overs and shorts
.
series issued in
00
89
00
00
06
61
89
92
22
75
$698,864 43
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
$430,939
69,880
95,800
43,800
614
12,142
23,739
20,304
613
475 11
400 00
150 00
3 98
$698,864 43
New
1928
1,198
1,225
92
172
7,877
4,547
....
Members
Members who
are borrowers
Holders of: —
Unmatured shares
Matured share certificates
Paid-up share
.
.
certificates
840
338
786
85
46
May, November.
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
First term,
23^%; second term, 2J^%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old; 20% on series
from 5 to 6 years old; 15% on series from 6 to 7 years old; 5% on series from 7 to 8 years old; after
8 years, none.
* Security Committee.
P.D.
8,
71
Part III.
Rates and Averages on Loans
254 real estate loans (average, $2,505 each; average rate, 5.98%): 5%, $10,000;
81 share loans (average, $310 each; average rate, 6%): 6%, $25,116.
4 loans on matured share certificates: 6%, $5,400.
1 loan on paid-up share certificates
6%, $175.
A%,
M00; 6%,
bx
$619,250.
:
Total Expenses for Year
Rent
Advertising
$720.00
$128.00
1.03
.18
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,575.00
2.25
.
CHICOPEE
— THE
Other
Expenses
$721.83
Total
$3,144.83
4.49
1.03
CHICOPEE FALLS CO-OPERATIVE BANK
Incorporated September 13, 1923.
Began business November
2,
1923
Fred H. Harper, Treasurer
William E. Donnelly, President
J. O. Beauchamp, W. T. Burgess, Ralph Cunningham, E. J. Darcy, Henry
Desplaines, W. E. Donnelly,* Joseph Dumont, Joseph Gagne, Charles Galyuszka, W. J. Golden, W. L.
Goyette, F. H. Harper, James Hulton*, J. J. Kelly*, C. R. Loveland, Edwin Megargel, D. W. O'Connell,
J. D. O'Connor, Patrick O'Toole, John Reid, Jr., W. M. Rogers, Apollinary Roman, Michael Shea, Ben-
Board of Directors: Peter Bardzik,
jamin Simpson, D. R. Spence*, Arthur Woodhall.
Regular meeting for receipt of moneys the
first
Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
1928
5,
Liabilities
Loans on real estate
Loans on shares
Overs and shorts
Due from trust companies and
tional banks
Cash and cash items
$84,250 00
7,350 00
8 65
.
$76,751
8,369
9,600
10
.
Paid-up share
certificates
Forfeited share account
3,726 12
2,367 77
00
85
00
00
706 73
2,024 96
Dues capital
Profits capital
.
Guaranty fund
Surplus
Dividends on paid-up share
cates
certifi
240 00
.
$97,702 54
$97,702 54
Membership
Serial Shares
Issued during year
337
402
Withdrawn during year
Forfeited during year
5
Shares in force
Shares now pledged
New
series issued in
1,943
768
....
Members
Members who
Holders
of:
— are borrowers
224
83
.
Unmatured shares
Paid-up share
217
13
certificates
May, November
Profits Distributed
Unmatured Shares and Paid-up Share
2}i%; second term,
retained on voluntary withdrawals, 25%.
First term,
Proportion of profits
Certificates
2Y2 %.
Rates and Averages on Loans
36 real estate loans (average, $2,340 each; average rate, 6%): 6%, $84,250.
47 share loans (average, $156 each; average rate, 6%): 6%, $7,350.
Total Expenses for Year
Rent
Advertising
$137.50
$37.00
$22.03
1.41
.38
.22
Salaries
Amount
paid for
Cost per $1,000 of assets
.
CLINTON
— CLINTON
Incorporated September 23, 1887.
Other
Expenses
$234.65
2.40
Total
$431.18
4.41
CO-OPERATIVE BANK
Began business October
William L. Hubbard, President
20, 1887
Charles L. Stevens, Treasurer
Katherine T. Durkin, Assistant Treasurer
Board of Directors: P. J. Cannon, D. V. Carruth, W. J. Cox, H. E. Greenwood, L. M. Hills, N. L. Howe*,
W. L. Hubbard, G. C. Hudson*, E. H. Jaquith, S. W. McRell, H. W. Pickford, B. D. Richter, C. L.
Stevens*, A. R. Stevenson, F. F. Wallace.
Regular meeting for receipt of moneys the third Thursday of each month.
* Security Committee.
.
72
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
18,
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Dues capital
Profits capital
,103,875 00
$1,077,935
228,486
904,000
131,600
20
41,307
39,630
13,499
.
24,290 00
Matured share
1,260 00
certificates
share certificates
Paid-up
48,300 00
143,691 91
733 91
1,366 74
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
Forfeited share account
.
Guaranty fund
Surplus
Interest
banks
Cash and cash items
117,312 00
3,705 33
tional
Fines
Transfer fees
919
.
1
Due on uncompleted
loans
7,100
19
15
Security committee
Overs and shorts
.
$2,444,534 89
Issued during year
.
.
Members
Members who
5,211
6,267
.
Forfeited during year
.
.
2,355
— are borrowers
777
Unmatured shares
Matured share certificates
1,889
Holders
67
Matured during year
706
Shares in force
23,633
Shares now pledged
11,670
New series issued in January, April, July, October.
.
54
00
00
36
78
98
06
32
00
00
50
35
Membership
....
....
....
.....
.
00
$2,444,534 89
Serial Shares
Withdrawn during year
Part III.
1928
of:
Paid-up share
.
649
122
certificates
Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, 1^%; second term, 1J^%; third term,
P/f6 %; fourth term,
First term,
1H%)
1%%.
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
1H%-
fourth term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
692
real estate loans
(average,
5,040 each;
average rate, 6.14%):
5^%,
,900;
6%,
$1,754,930;
7%,
$287 045
78 share loans (average, $332 each; average rate, 6.31%): 6%, $16,615; 7%, $7,675
4 loans on matured share certificates : 6%, $735; 7%, $525.
Total Expenses for Year
Rent
Advertising
$6,965.85
$747.37
$154.36
2.84
.35
.06
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
Other
Expenses
;i,721.07
.70
Total
$9,588.65
3.95
CLINTON — WACHUSETT CO-OPERATIVE BANK
Incorporated
James
J.
March
6,
1913.
Began business March
13,
1913
Lyman
Goodwin, President
C. Ayers, Treasurer
C. Millie Leighton, Assistant Treasurer
Board of Directors: E. R. B. Allardice, L. C. Ayers, G. A. Brown, H. A. Burdett, J. H. Coughlin, J. M. Donnelly, J. W. Forrester, J. F. Fuller, J. J. Goodwin, G. H. Hager*, J. D. Hamilton, H. F. Hartwell, F. E.
Howard*, G. Krauss, N. E. Mather, W. R. Mitchell*, J. B. O'Toole*. J. H. O'Toole, E. O. Pratt, A. J.
Ruane, A. T. Saunders, N. A. Seymour, F. G. Stowers.
Regular meeting for receipt of moneys the second 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
form mortgages
Common
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
11,
1928
Liabilities
$1,793,300
28,710
10,315
50
70,700
165,581
1,375
1,870
00
00
00
00
00
66
73
93
Dues capital
Profits capital
.
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
13,104 40
1,501 65
Withdrawal profits
Due on uncompleted loans
Security committee
$2,086,509 37
* Security
$865,545
166,328
875,200
108,000
1,052
29,650
11,815
17,475
885
2
00
23
00
00
42
40
59
20
58
25
09
183
10,279 11
92 50
$2,086,509 37
Committee.
P.D.
8,
73
Part III.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
Members
Members who
1,051
1,053
Holders
of:
are borrowers
Paid-up share
2,083
628
.
Unmatured shares
Matured share certificates
20,389
9,760
series issued in
....
—
4,976
3,805
1,663
701
138
.
certificates
March, June, September, De
cember.
Profits Distributed
Unmatured Shares
second term, 1>2%; third term,
1H%;
First term,
iy2 %;
1^%.
fourth term,
Matured Share
Certificates
A%\
\X
second term, 13^%; third term,
13^%; fourth term, l%%.
First term,
Paid-up Share
Certificates
134%; second term, 134%;
134%; fourth term, \\i%.
First term,
Proportion of profits retained on voluntary withdrawals,
584
50%
of last 3
months' dividend.
Rates and Averages on Loans
$3,071 each; average rate, 6.44%): 6%, $46,500;
(average,
$4,200.
SO share loans (average, $359 each; average rate, 6.53%):
16 loans on matured share certificates: 63^%, $10,315.
1 loan on paid-up share certificates : 63^%, $50.
real estate loans
63^%,
$£ 3,730;
7%,
third term,
63^%, $1,742,600;
7%,
$1,980.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$4,437.65
2.13
$1,654.91
.79
$415.71
Other
Expenses
$2,436.08
5,944.35
.20
1.17
4.29
Advertising
Total
COHASSET — PILGRIM CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Rockland Trust Co., Scituate, and Second
National Bank, Boston)
Incorporated April 26, 1916.
Edward
Began business
May
1916
16,
Edward
F. Willcutt, President
L. Stevens, Treasurer
Board of Directors: D. L. Agnew, E. T. Brickett, W. A. Burton, Gilman Churchill, E. W. Crowell, H. E. Fernald, H. T. Fogg, T. L. Grassie, J. E. Harney*, F. L. Higgins, C. E. Howe, George Jason, M. L. Kerr,
F. F. Martin, Jr., M. H. Meyer, D. S. Pitkin, A. F. Servan* Walter Shuebruk, E. L. Stevens, James
Stinson, R. H. Tisdale, C. H. Trott*. G. T. Vedeler, E. F. Willcutt*, J. N. Willcutt, C. M. Woods.
Regular meeting 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
Real estate by foreclosure, etc.
Furniture and fixtures
Insurance and taxes paid
Other assets
Due from trust companies and
tional banks
Cash and cash items
$495,800 00
11,668 00
9,881 66
184 75
59 30
....
3 12
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
12,804 87
101 84
Interest
Due on uncompleted
loans
Forfeited during year
.
.
Matured during year
Shares in force
Shares now pledged
.
New
.
.
series issued in
.
.
.
.
.
.
.
273 51
6,956
9,998
167
4,162
63
66
66
50
Membership
Serial Shares
....
....
....
00
40
00
00
$530,503 54
$530,503 54
Issued during year
$323,518
61,118
69,400
54,400
508 18
Security committee
Withdrawn during year
16, 1928
Liabilities
1,465
1,102
95
577
7,621
2,820
Members
Members who
are borrowers
893
228
Unmatured shares
Matured share certificates
790
66
Holders
of:
—
Paid-up share
certificates
37
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Paid-up Share Certificates
First term, \\i%; second term, 1M%; third term,
1M%;
Proportion of profits
fourth term,
1M%-
Matured Share Certificates
Fourth term, 134%.
retained on voluntary withdrawals, 20% on series less than 4 years old; 12^% on
from 4 to 8 years old; after 8 years, none.
* Security Committee.
series
74
P.D.
8,
Part
III.
Rates and Averages on Loans
200 real estate loans (average, $2,479 each; average rate, 6%): 6%, $495,800.
45 share loans (average, $259 each; average rate, 6%): 6%, $11,668.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Salaries
Rent
Advertising
U19.33
$460.45
$83.20
),72
5,533.70
4.00
.87
.15
1.64
6.66
Total
CONCORD — CONCORD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: West Concord; South Lincoln; Bedford; Maynard; Walden Street, Concord)
Incorporated December
Raymond D.
19, 1921.
Began business February
15,
1922
Benjamin Moody, Treasurer
Willard, President
J. L. Adams, E. B. Caiger, W. B. Conant, J. J. Connorton, C. M. Cox*, L. W. Cram,
Kennan Damon, H. B. Daniels, G. M. Dimond, R. D. Donaldson*, J. A. Finigan*, W. N. How, E. R.
Howard, G. H. Lovejoy, Bernard McGrath, Benjamin Moody, Thomas Peterson, B. L. Pratt, W. A.
Board of Directors:
Rodday* Raymond Wheeler*, R. D.
Willard, T. A. Wilson.
Regular meeting for receipt of moneys the third Wednesday
each month.
of
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on paid-up share
Furniture and fixtures
.
.
Liabilities
.
.
certificates
.
.
Temporary expense account
Due from
tional
trust companies
banks
$599,498 00
34,144 00
1,140 00
455 31
1,115 72
and na-
Dues capital
Profits capital
$490,964
62,113
61,000
53
4,673
4,764
9,264
142
9,700
18
.
Paid-up share
certificates
Forfeited share account
.
Guaranty fund
Surplus
6,304 02
.
Cash and cash items
17, 1928
36 47
.
Interest
Fines
.
.
.
Due on uncompleted
loans
Security committee
$642,693 52
$642,693 52
Membership
Serial Shares
....
....
.....
....
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New
series issued in
.
.
00
98
00
00
70
26
24
34
00
00
.
.
7,029
5,984
25
11,043
4,280
Members
Members who
Holders
of:
—
1,021
are borrowers
263
Unmatured shares
Paid-up share
970
76
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Paid-up Share Certificates
1%%', second term, 1M%; third term,
First term,
1M%;
fourth term,
1H%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
172 real estate loans (average, $3,485 each; average rate, 6%): 6%, $599,498.
166 share loans (average, $206 each; average rate, 6%): 6%, $34,144.
9 loans on paid-up share certificates : 6%, $1,140.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Total
Salaries
Rent
Advertising
>,825.00
$345.80
$209.40
51,141.06
1,521.26
4.40
.53
.33
1.77
7.03
DANVERS — THE DANVERS CO-OPERATIVE BANK
Incorporated August 22, 1892.
Began business August
29, 1892
Arthur E. Perkins, Treasurer
Harry E. Jackson, President
Board of Directors: C. E. Bragdon*, W. C. Cook*, L. S. Couch*, H. E. Jackson, F. W. Marsh*, H. T. Merrill,
C. F. A. Morse, C. F. Newbegin*, J. E. Nightingale, A. E. Perkins, M. C. Pettingell, H. M. Wilkms.
Regular meeting for receipt of moneys the
last
* Security Committee.
Monday
of each
month.
P.D.
75
Part III.
8,
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on matured share
Furniture and fixtures
.
.
Liabilities
.
certificates
tional
Matured share
....
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
1,048 53
.
and na30,406 67
255 61
Cash and cash items
$524,774
93,083
417,000
96,400
30
20,115
.
500 00
trust companies
banks
Dues capital
Profits capital
$1,160,240 00
16,550 00
4,765 00
Temporary expense account
Due from
29, 1928
23,101
12,219
.
Interest
Fines
Transfer fees
Withdrawal
553
•
.
331
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Accrued interest
20,000
5,892
81
182
Bills
.
.
.,
$1,213,765 81
$1,213,765 81
Membership
Serial Shares
Issued during year
Withdrawn during year
00
22
00
00
00
92
21
98
73
50
83
00
00
00
42
24
765
Forfeited during year
....
Matured during year
Shares in force
Shares now pledged
New series issued in February, Augusl
....
—
Members
Members who
3,256
1,702
.
Holders
of:
are borrowers
Unmatured shares
Matured share certificates
12,159
6,482
1,210
429
.
957
299
72
.
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
2%%\
second term,
Matured Share
A%;
First term, 2 5
372
25%
Certificates
h
second term, 2 /%%.
Paid-up Share Certificates
second term, 2)^%.
on series less than 5 years old; after 5 years,
First term,
Proportion of profits retained on voluntary withdrawals,
none.
2%%.
2%%;
Rates and Averages on Loans
average rate, 5.99%): 5V2 %, $24,050; 6%, $1,136,190.
loans (average, $324 each; average rate, 6%): 6%, $16,550.
on matured share certificates: 6%, $4,765.
real estate loans (average, $3,119 each;
51 share
6 loans
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
2,339.26
1.93
$649.60
$491.99
.53
.41
Other
Expenses
$1,758.99
1.45
Total
$5,239.84
4.32
DEDHAM — THE DEDHAM CO-OPERATIVE BANK
Incorporated February
Dennis
J.
11, 1886.
Began business February
16,
1886
Anne
Hurley, President
F. Smith, Treasurer
Albert D. Hibbard, Assistant Treasurer
Board of Directors: M. A. Carney, E. N. Cartwright, A. N. Daniels*, A. D. Hibbard, D. J. Hurley, P. W.
Hutchison, F. B. Kingsbury, L. J. Murray, Anne F. Smith, Jeremiah Sweeney*, F. H. Valentine, A. O.
Withington*, J. W. Withington.
Regular meeting for receipt of moneys the third Tuesday 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
Real estate by foreclosure, etc.
Unpaid interest
Unpaid premiums
Unpaid fines
Insurance and taxes paid
Other assets
Cash and cash items
.
.
.
16,
1928
Liabilities
$2,854,550
47,795
2,600
150
1,700
8,025
10,404
764
997
676
80
40,883
00
00
00
00
00
03
33
20
03
04
00
25
Dues capital
Profits capital
$1,710,302
410,091
347,400
283,400
.
Matured share
Paid-up share
.
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
.
.
.
.
.
.
.
Due on uncompleted
loans
Dividends on matured share
cates
Dividends on paid-up share
cates
$2,968,624 88
* Security Committee.
.
.
.
.
00
09
00
00
48 56
62,109 40
86,835 48
52,869 20
certifi.
.
8,484 15
certifi-
7,085 00
$2,968,624 88
76
P.D.
Membership
Serial Shares
Issued during year
Withdrawn during year
8,607
3,995
.
Forfeited during year
73
Matured during year
2,379
33,508
16,296
Shares in force
Shares now pledged
New
series issued in
Members
Members who
.
Holders
.
.
.
— are borrowers
of:
8,
Part III.
2,629
.
987
....
Unmatured shares
Matured share certificates
Paid-up share
.
2,612
257
206
.
certificates
May, November.
Profits Distributed
Unmatured Shares
3%; second
First term,
term,
3%.
Matured and Paid-up Share
2%%; second term,
Certificates
First term,
23^%
Proportion of profits retained on voluntary withdrawals, 25%.
Rates and Averages on Loans
867 real estate loans (average, $3,292 each; average rate, 6.30%): 6 3 /io%, $2,854,550.
205 share loans (average, $233 each; average rate, 6.30%): 6 3 /io%, $17,795.
11 loans on matured share certificates : 6%, $2,600.
1 loan on paid-up share certificates: 6%, $150.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$6,087.72
2.05
.
DIGHTON
— NORTH
Rent
Other
Expenses
Advertising
$84.75
51,541.01
.52
Total
$10,326.39
3.48
52,612.91
.03
DIGHTON CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Engine Hall, Dighton)
Incorporated April
Edward
14, 1890.
Began business April
21, 1890
Dwight
T. Cocker, President
F. Lane, Treasurer
Board of Directors: W. J. Aspinwall, C. R. Briggs, L. E. Briggs*, C. F. Brownell*, H. T. Childs, Alexander
Chisholm, E. T. Cocker, J. F. Driscoll, J. H. Goff, D. F. Lane, Helen H. Lane, E. E. Lincoln*, H. B
Seekell, E. E. Spencer, E. F. Walker.
Regular meeting 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
Unpaid interest
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
8,
$566,650
8,730
2,065
200
2,796
84
54
00
00
00
00
Dues capital
Profits capital
21
Forfeited share account
83
00
Guaranty fund
1,437 74
574 99
Matured share
Paid-up share
certificates
certificates
12
12,625
5,171
2,715
52
3,500
Surplus.
Interest
Fines
.
Due on uncompleted
loans
57
$582,592 77
$582,592 77
Membership
Serial Shares
Issued during year
Shares in force
Shares now pledged
New
series issued in April, October.
00
57
00
00
68
76
52
78
46
00
00
$313,020
65,237
168,000
12,200
.
Security committee
Withdrawn during year
Matured during year
1928
Liabilities
1,406
1,176
Members
Members who
156
6,356
3,195
Holders
of:
530
217
— are borrowers
472
Unmatured shares
Matured share certificates
Paid-up share
130
12
certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%', second term, 2Y%%.
First term,
2}i%; second term, 23^%.
Paid-up Share
Certificates
Proportion of profits retained on voluntary withdrawals, none.
* Security Committee.
Certificates
P.D.
8,
77
Part III.
Rates and Averages on Loans
6%,
53^%, $38,550;
(average,
,891 each; average rate, 5.95%): 5»/io%. $13,150;
$514,950.
5,730.
19 share loans (average, $459 each; average rate, 6%): 6%,
4 loans on matured share certificates: 6%, $2,065.
1 loan on paid-up share certificates: 6%, $200.
196
real estate loans
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
EAST BRIDGEWATER
$14.75
$1,098.48
1.88
— EAST
Other
Expenses
$225.36
Advertising
.39
.03
Total
$1,338.59
2.30
BRIDGEWATER CO-OPERATIVE BANK
Incorporated February 25, 1913.
Began business April
1,
1913
Fred E.
Charles L. Nutter, President
Fuller, Treasurer
Board of Directors: C. E. Bennett, H. W. Collamore, L. R. Fisher, F. E. Fuller*, A. L. Leland, H. L. Moorhouse*, E. T. Morse, W. E. Murphv, J. F. Murray, C. L. Nutter, S. K. Nutter* James O'Brien, M. F.
Roach*, G. A. Root*, A. B. Shaw, G. A. Simpson, F. F. Smith, H. C. Thorndike, E. N. West.
Regular meeting for receipt of moneys the third
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Bonds
on real estate
on shares
on matured share
certificates
and notes
Real estate by foreclosure, etc.
Due from trust companies and na
tional banks
Cash and cash items
15, 1928
Liabilities
$442,075 00
10,675 00
600 00
1,000 00
3,313 25
Dues
00
32
00
00
00
41
29
62
54
50
41 17
280 50
$170,920
30,954
227,000
23,600
8
6,878
3,856
2,246
111
capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
6,656 30
1,577 80
Surplus
Interest
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
$465,897 35
$465,897 35
J
Membership
Serial Shares
Issued during year
Withdrawn during year
1,099
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
490
40
327
4,117
2,464
Members
Members who
Holders
of:
538
203
— are borrowers
Unmatured shares
Matured share certificates
398
195
Paid-up share certificates
19
series issued in April, October.
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%\
second term,
Certificates
2%%.
Paid-up Share Certificates
second term, 2K%-
A%\
First term, 2 X
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
184 real estate loans (average, $2,403; each; average rate, 6%): 6%, $442,075.
18 share loans (average, $593 each; average rate, 6%): 6%, $10,675.
1 loan on matured share certificates: 6%, $600.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
Advertising
Other
Expenses
1,322.99
$180.00
>.34
2.84
.39
50
* Security Committee.
Total
L,
739. 33
3.73
P.D.
78
8,
EASTHAMPTON — EASTHAMPTON CO-OPERATIVE BANK
Incorporated
March
Began business April
24, 1900.
W.
of Directors:
F. Coyle*, B.
William L. Pitcher, Treasurer
H. Grange*, Anthony Kendrew, P. M. Kugler,
Pike,
W.
J.
A. Laprade, E.
Monday
first
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
....
1928
1,
Liabilities
....
....
....
Dues capital
Profits capital
00
00
00
32
1,992 02
779 47
$361,350
4,840
325
5,294
Matured share
$198,057 00
40,978 99
109,400 00
45 92
7.930 30
11,847 96
10,000 00
certificates
Forfeited share account
.
Guaranty fund
Surplus
Bills payable for
money borrowed
Dividends on matured share
5,534 52
779 35
cates
certifi
2,634 51
$380,894 68
$380,894 68
Membership
Serial Shares
....
.
Shares in force
Shares now pledged
New
series issued in
....
Members
Members who
683
484
Issued during year
Withdrawn during year
Matured during year
S.
L. Pitcher*.
Regular meeting for receipt of moneys the
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Unpaid interest
Furniture and fixtures
Due from trust companies and national banks
Cash and cash items
III.
1900
2,
William F. Coyle, President
Board
Part
Holders
190
3,996
2,045
of:
— are borrowers
Unmatured shares
Matured share certificates
.
444
126
.
394
115
May, November.
Profits Distributed
Unmatured Shares and Matured Share
First term,
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
2%%;
second term,
series less
Certificates
2%%.
than 4 years old; after 4 years,
Rates and Averages on Loans
98 real estate loans (average, $3,687 each; average rate, 6%): 6%, $361,350.
40 share loans (average, $121 each; average rate, 6%): 6%, $4,840.
1 loan on matured share certificates : 6%, $325.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
EASTON
Salaries
Rent
$500.00
$300.00
1.31
.79
— THE NORTH
$6.00
Other
Expenses
$282.21
$1,088.21
.01
.74
2.85
Advertising
Total
EASTON CO-OPERATIVE BANK
Incorporated April 23, 1889.
Began business April
23,
1889
Harry C. Holmes, Treasurer
Lorenzo B. Crockett, President
Board of Directors: J. A. Anderson, A. W. Bailey*, John Baldwin, F. L. Crockett, L. B. Crockett, G. H. DeWitt*, H. C. Holmes, W. N. Howard, H. H. Mitchell, M. E. Reynolds, W. S. Rice, A. B. Sladen* J. M.
Smith, W. A. Smith, H. G. Thompson.
Regular meeting for receipt of moneys the third
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
.
1928
Liabilities
Assets
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Unpaid interest
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
15,
$986,800
15,015
740
19,836
6,494
150
763
00
00
00
88
05
00
64
46,075 16
547 74
Dues
capital
Profits capital
.
Matured share
.
.
.
.
certificates
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on matured share
.
.
cates
.
.
.
Dividends on paid-up share
cates
$1,076,422 47
* Security"Committee.
.
.
_
.
00
34
00
00
39
5,972 28
8,700 00
$594,645
139,833
199,800
104,400
15,664
certifi.
4,797 46
certifi-
2,610 00
$1,076,422 47
P.D.
8,
Part
79
III.
Membership
Serial Shares
Issued during year
Forfeited during year
2,994
1,710
137
Matured during year
Shares in force
Shares now pledged
11,758
5,352
Withdrawn during year
.
....
New
series issued in
......
—
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders of
770
:
Paid-up share
1,036
407
931
147
75
certificates
May, November.
Profits Distributed
First term,
Unmatured Shares
second term, 3%.
3%;
Matured and Paid-up Share
First term, 23^ %; second term,
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
Certificates
2}4%.
than 5 years old; after 5 years,
series less
Rates and Averages on Loans
875 real estate loans (average, $2,631 each; average rate, 6%): 6%, $986,800.
85 share loans (average, $429 each; average rate, 6%): 6%, $15,015.
2 loans on paid-up share certificates : 6%, $740.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
U68.00
$300.00
$55.32
Other
Expenses
$786.21
2.94
.28
.05
.73
Advertising
Total
$4,309.53
4.00
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
1890
14,
Charles B. Ladd, President
Board
Ernest R. Fall, Treasurer
Boyd, E. R. Fall*, C. S. Hallett, G. E. Hunt, F. E. Jennings, C. B. Ladd*, R. S.
Leighton, C. C. Nichols, J. W. Philbrick*, W. J. Rockwood, W. C. Simes, E. B. Slocum.
of Directors: F. E.
Regular meeting for receipt of moneys the third
Monday
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
Temporary expense account
trust companies and na
banks
Cash and cash items
52,698,200 00
41,543 00
7,250 00
150 00
879 33
Dues capital
Profits capital
00
54
00
00
1,913 20
$1,281,236
227,362
1,103,800
133,400
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
71,367 15
200 00
43,772 18
20,072 75
7,677 83
Surplus
Interest
239 45
1 25
114 28
Fines
Transfer fees
.
Withdrawal
profits
$2,819,589 48
$2,819,589 48
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
.
....
Matured during year
6,725
5,195
34
830
30,149
15,675
series issued in January, April, July, October.
Shares in force
Shares now pledged
New
1928
Liabilities
Due from
tional
15,
Members
Members who
.
.
2,818
.
are borrowers
842
Unmatured shares
Matured share certificates
2,311
Holders
of:
—
Paid-up share
856
102
certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
1%%;
1%%;
second term,
fourth term,
First term,
\%%.
1
A%;
3
Committee.
third term,
Paid-up Share Certificates
second term, 1J4%; third term,
1%%;
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.
* Security
Certificates
10% on
series
80
P.D.
8,
Part
III.
Rates and Averages on Loans
698 real estate loans (average, $3,866 each; average rate, 6%): 6%, $2,698,200.
204 share loans (average, $204 each; average rate, 6%): 6%, $41,543.
23 loans on matured share certificates : 6%, $7,250.
1 loan on paid-up share certificates: 6%, $150.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
>,895.02
.
$2,126.45
.75
2.44
EVERETT
— GLENDALE
$656.86
Other
Expenses
$3,067.63
.23
1.08
Advertising
Total
$12,745.96
4.50
SQUARE CO-OPERATIVE BANK
Began business
Incorporated April 27, 1928.
May
31,
Wallace E. Symmes, President
1928
George Cameron, Treasurer
Board of Directors: Harris Bass, Joseph Bloomberg*, L. M. Bloomberg, George Cameron, H. H. Cameron,
J. J. Davis, J. J. Fitzgibbon, C. T. Hall, F. C. Hosea, B. G. Hunt, T. F. Jones, C. C. Lang, A. W. Marshall, J. P. Mulrenan, W. E. Symmes*, G. C. Torngren, H. E. Weir, Emerson Whitman*.
Regular meeting for receipt of moneys the second Saturday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
13,
Liabilities
....
....
Loans on real estate
Loans on shares
Due from trust companies and national banks
Cash and cash items
Dues capital
Profits capital
$15,000 00
60 00
$13,452
54
3
7
155
21
5,875
.
Guaranty fund
4,488 84
Surplus
20 85
Interest
Fines
.
Due on uncompleted
loans
$19,569 69
Membership
....
....
.....
....
65
2,984
91
Shares in force
Shares now pledged
series issued in June,
Members
Members who
3,049
Withdrawn during year
New
00
50
33
95
48
43
00
$19,569 69
Serial Shares
Issued during year
1928
Holders
of:
263
— are borrowers
Unmatured
6
263
shares
September.
Profits Distributed
Unmatured Shares
First term,
1}4%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
4 real estate loans (average, $3,750 each; average rate, 6%): 6%, $15,000.
2 share loans (average, $30 each; average rate, 6%): 6%, $60.
Total Expenses for Year
Salaries
Amount paid
Cost
Rent
Advertising
Other
Expenses
Total
for
per $1,000 of assets
.
FALL RIVER
— THE
FALL RIVER CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Office Fall River Bleachery, Office Lincoln
&
Hood)
Incorporated December
1,
1888.
Began business December
12,
1888
Rodolphus N. Allen, Treasurer
George O. Lathrop, President
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*.
Regular meeting for receipt of moneys the second Wednesday of each month.
* Security Committee.
P.D.
8,
Part III.
81
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.
Banking house
Dues capital .
Profits capital
$4,578,500 00
88,200 00
5,450 00
1,850
8,490
5,667
18,000
2,572
.
Temporary expense account
Insurance and taxes paid
$2,888,112
560.150
597,800
443,400
47
100.151
93,872
48,091
Matured share
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Bills
Due
.
payable for money borrowed
on uncompleted loans
$4,788,647 58
Membership
Serial Shares
Issued during year
.....
—
Members
Members who
12,876
11,565
.
are borrowers
Forfeited during year
98
Matured during year
1,640
59,043
Unmatured shares
Matured share certificates
26,499
Paid-up share certificates
....
Shares in force
Shares now pledged
series issued in
11
75,468 91
3,967 11
$4,788,647 58
New
00
00
00
99
32
05
95
1,241 07
50,000 00
5,781 09
certificates
share certificates
Paid-up
00
00
50
00
34
373 15
98 75
9 82
Other assets
Overs and shorts
Due from trust companies and national banks
Cash and cash items
Withdrawn during year
1928
Liabilities
....
....
.....
....
....
Loans
Loans
Loans
Loans
10,
Holders
of:
4,733
1,887
.
4,430
423
305
.
March, Septemb( >r.
Profits Distributed
Unmatured Shares
First term,
2%%;
second term,
2%%.
Matured and Paid-up Share
First term,
Certificates
23^%; second term, 2 V2 %.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1,684 real estate loans (average, $2,719 each; average rate, 5.97%): 5H%, $188,950; 6%, $4,389,550.
830 share loans (average, $267 each; average rate, 5.99%): 5^%, $350; 6%, $87,850.
12 loans on matured share certificates: 6%, $5,450.
4 loans oil paid-up share certificates: 6%, $1,850.
Total Expenses for Year
$1,380.27
$506.65
Other
Expenses
$6,021.46
.29
.10
1.26
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$11,142.13
2.33
.
FALL RIVER
— THE
Advertising
Total
$19,050.51
3.98
LAFAYETTE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Fall River Trust Co. Branch, 1465 Pleasant
Street)
Incorporated April
Edmond
11, 1894.
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.
Hickey, 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 meeting 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
Real estate by foreclosure,
Unpaid interest
etc.
Temporary expense account
Due from
tional
trust companies
banks
3,
1928
Liabilities
,947,875
41,200
7,043
5,825
3,999
00
00
45
85
96
and
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
45,662 42
Surplus
Interest
Fines
.
Withdrawal profits
Due on uncompleted loans
Overs and shorts
.
$2,051,606 68
$2,051,606 68
* Security
00
42
00
00
85
37
06
63
1,317 70
12 40
3,133 00
25
$1,258,430
212,201
250,200
174,600
231
44,347
48,725
58,407
Committee.
82
P.D.
Membership
Serial Shares
Issued during year
Forfeited during year
Matured during year
New
series issued in
Holders
— are borrowers
of:
Unmatured shares
Matured share certificates
741
26,902
11,480
Shares in force
Shares now pledged
Part III.
......
Members
Members who
6,234
4,361
2
Withdrawn during year
8,
1,899
614
.
1,758
.
.
165
116
.
Paid-up share certificates
May, November
Profits Distributed
Unmatured Shares
2%%;
First term,
second term,
2%%.
Matured and Paid-up Share
A%\
First term, 2 X
second term,
Proportion of profits retained on voluntary withdrawals, none.
|
Certificates
2%%.
Rates and Averages on Loans
522 real estate loans (average, $3,732 each; average rate, 5.97%): 5^%,
132 share loans (average, $312 each; average rate, 6%): 6%, $41,200.
6%,
19,550;
$1,828,325.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$429.14
$5,670.30
2.76
.
FALL RIVER
— PEOPLES
Incorporated February 18, 1882.
Other
Expenses
Advertising
Total
$7,855.37
3.83
51,755.93
.86
.21
CO-OPERATIVE BANK
Began business March
15,
1882
Charles H. Durfee, Treasurer
Abner P. Davol, President
Nathaniel B. Durfee, Assistant Treasurer
Board of Directors: F. E. Arnzen,
J.
B. Clifton, A. P. Davol*, C. H. Durfee*, J. E. Estes, E. B. Mills, James
H. Smith*, Michael Sweeney*, L. E. Wood.
Sinclair, F.
Regular meeting 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
Bonds and notes
Real estate by foreclosure, etc.
Furniture and fixtures
Due from trust companies and
tional banks
17, 1928
Liabilities
.....
....
Dues capital
Profits capital
$975,250 00
19,950 00
15,075 00
7,889 27
1,447 20
Matured share
certificates
....
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on matured share
.
25,092 45
cates
.
.
.
.
.
Dividends on paid-up share
cates
$572,444
118,230
212,600
92,400
19,536
20,617
51
1,250 00
.
.
certifi.
5,315 00
.
certifi-
2,310 00
.
$1,044,703 92
$1,044,703 92
Membership
Serial Shares
Issued during year
343
Shares in force
Shares now pledged
New
series issued in
......
Members
Members who
2,593
2,185
Withdrawn during year
Matured during year
00
54
00
00
87
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
11,932
5,746
.
May, November.
Paid-up share
915
304
.
...
790
163
64
.
certificates
Profits Distributed
Unmatured Shares
First term,
2%%;
second term,
2M%-
Matured and Paid-up Share
First term, 2]/
2 %\ second term,
Certificates
2%%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
258 real estate loans (average, $3,780 each; average rate, 5.97%): bY2 %, $55,900; 6%, $919,350.
46 share loans (average, $433 each; average rate, 6%): 6%, $19,950.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Advertising
53,249.96
1,204.31
$286.95
3.10
1.15
.27
* Security
Committee.
Other
Expenses
$889.62
.85
Total
5,630.84
5.37
P.D.
8,
Part
III.
FALL RIVER
— TROY
83
CO-OPERATIVE BANK
Incorporated July 10, 1880.
Began business July
20,
1880
Edward W. Bertenshaw,
Jerome C. Borden, President
Treasurer
Board of Directors: F. S. Akin, F. B. Albro, James Allardice*, E. W. Bertenshaw, J. C. Borden, T. D. Covel*,
G. H. Eddy, J. H. French, J. E. O'Connor, S. S. Read, C. C. Rounseville, E. N. Slade*, Joseph Turner*,
W. R. Woodman.
Regular meeting for receipt of moneys the third Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
16,
$4,754,386 96
81,900 00
3,900 00
on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
1,250
9,000
42,320
25,000
19,166
1,815
Real estate by foreclosure, etc
Banking house
Unpaid interest
Unpaid fines
Temporary expense account
Insurance and taxes paid
Due from trust companies and
tional banks
00
00
53
00
71
38
770 59
2 04
.
Dues capital
Profits capital
$3,008,765
573,635
775,600
429,200
5,159
8,956
124,927
81,765
22,825
.
Matured share
Paid-up
Forfeited share account
Matured share account
Guaranty fund
Surplus
....
Interest
Fines
Due on uncompleted
Reserve for taxes
.
.
11,206 87
2,042 04
loans
.
$5,044,631 26
Membership
10,898
10,078
.
Forfeited during year
293
Matured during year
1,544
....
62,215
27,679
Shares in force
Shares now pledged
New
16
105,119 05
Serial Shares
Issued during year
00
00
00
08
06
73
62
93
547 77
certificates
share certificates
$5,044,631 26
Withdrawn during year
1928
Liabilities
.....
—
Members
Members who
are borrowers
.
4,520
1,497
Unmatured shares
Matured share certificates
.
4,152
561
Holders
of:
Paid-up share
295
certificates
series issued in April, October.
Profits Distributed
Unmatured Shares
2%%;
First term,
second term,
2%%.
Matured and Paid-up Share
2^%;
second term,
Proportion of profits retained on roluntary withdrawals, none.
First term,
Certificates
2Y2 %.
Rates and Averages on Loans
1,3S1 real estate loans (average, $3,572 each; average rate, 5.97%): 5^%, $224,887 6%, $4,529,500.
817 share loans (average, $258 each; average rate, 6%): 5M%, $200; 6%, $81,700.
4 loans on matured share certificates: 53^%, $1,800; 6%, $2,100.
4 loans on paid-up share certificates: 6%, $1,250.
Total Expenses for Year
Salaries
Amount paid
Cost
$12,148.00
2.41
for
per $1,000 of assets
.
Rent
Advertising
$2,108.36
.42
$333. 17
.06
Other
Expenses
$2,272.67
.45
Total
$16,862.20
3.34
FALMOUTH — FALMOUTH CO-OPERATIVE BANK
Incorporated
Rawson C.
May
22, 1925.
Began business June
9,
of Directors: W. F. Bourne, Sumner Crosby, E. K. Dean, G. E. Dean,
C. B. Fisher, E. P. Hatch, C. L. Hubbard, C. A. James, R. C. Jenkins,
Board
J.
B. Miskell*
I.
1925
Edward K. Dean,
Jenkins, President
Treasurer
John De Mello*, W. A. Dyer,
M. R. Lawrence, G. C. Look,
H. Robbins*.
Regular meeting 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
Temporary expense account
Due from trust companies and
tional banks
9,
1928
Liabilities
$127,800 00
3,275 00
278 31
Dues capital
Profits capital
.
Paid-up share certificates
Guaranty fund
19,372 15
Surplus
....
Interest
Fines
Due on uncompleted
Security committee
$150,725 46
* Security
loans
$125,026 00
7,261 69
11,200 00
503 58
1,333 01
3,793 48
77 70
1,500 00
30 00
$150,725 46
Committee.
84
P.D.
Membership
Serial Shares
Issued during year
962
401
Withdrawn during year
Shares in force
Shares now pledged
New
4,206
798
series issued in June,
December.
Members
Members who
Holders
of:
—
8,
Part III.
368
44
are borrowers
Unmatured shares
Paid-up share
360
9
certificates
Profits Distributed
Unmatured Shares
2^%;
First term,
X
second term, 2 A%.
Paid-up Share
Second term, 2}i%.
Certificates
Proportion of profits retained on voluntary withdrawals, none.
S3
Rates and Averages on Loans
average rate, 7%): 7%, $127,800.
$298 each; average rate, 7%): 7%, $3,275.
real estate loans (average, $3,873 each;
11 share loans (average,
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of asests
$73.28
$350.00
2.32
.
Other
Expenses
$190.03
Advertising
Total
$613.31
4.07
1.27
.48
FITCHBURG — FIDELITY CO-OPERATIVE BANK
Incorporated April 25, 1888.
Began business
May
8,
1888
Wylon G. Hayes,
David H. Merriam, President
Amy
Treasurer
Richardson, Assistant Treasurer
Board of Directors: G. B. Bartlett, M. F. Dunn, F. H. Foss, W. C. Goodwin, W. A. Hartwell, W. G. Hayes,
H. O. Irving, D. H. Merriam*, Oscar Monroe*, G. L. Parmenter*, W. E. Putney*, G. R. Wallace, Jr.,
D. I. Walsh, H. H. Wheelock.
Regular meeting 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 certificates
Loans on paid-up share certificates
Bonds and notes
Real estate by foreclosure, etc.
Banking house
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional banks
.
$3,840,855 00
43,061 00
5,330 00
900 00
97,673 47
44,494 43
20,000 00
4,161 90
268 26
318,713 40
Dues capital
Profits capital
00
20
00
00
595 58
102,425 46
95,200 12
43,251 69
978 91
4,050 00
1 50
$1,861,906
382,248
1,467,400
417,400
.
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Due on uncompleted loans
Overs and shorts
.
$4,375,457 46
$4,375,457 46
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
.
....
New
series issued in
30, 1928
Liabilities
10,107
9,067
480
1,470
39,672
20,758
.....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
.
3,383
1,198
.
2,718
1,106
305
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term,
iy8 %;
1%%;
second term,
fourth term,
1%%.
1%%;
Matured and Paid-up Share
First term, 1}4%'< second term,
1M%;
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1,075 real estate loans (average, $3,573 each; average rate, 6%): 6%, $3,840,855.
170 share loans (average, $253 each; average rate, 6%): 6%, $43,061.
9 loans on matured share certificates: 6%, $5,330.
1 loan on paid-up share certificates: 6%, $900.
* Security Committee.
third term,
Certificates
1%%;
third term,
P.D.
8,
85
Part III.
Total Expenses for Year
Amount
$12,530.00
2.86
paid for
Cost per $1,000 of assets
.
FITCHBURG
— FITCHBURG
Incorporated October 27, 1877.
$1,800.00
$890.00
Other
Expenses
$5,028.08
.41
.20
1.15
Rent
Salaries
Advertising
Total
),248.08
4.62
CO-OPERATIVE BANK
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,
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, D. J. Whooley.
Regular meeting for receipt of moneys the
last business
day
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
Liabilities
....
....
on real estate
on shares
on matured share certificates
on paid-up share certificates
$7,392,945
95,072
12,842
700
29,288
30,000
.
Real estate by foreclosure, etc.
Banking house
trust companies and national banks
Cash and cash items
Due from
31, 1928
...
00
00
00
00
11
00
Dues capital
Profits capital
$3,661,356
794,891
2.161,000
766,400
182,601
186,086
33,550
.
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
224,038 99
1,000 00
$7,785,886 10
$7,785,886 10
Membership
Serial Shares
Issued during year
Withdrawn during year
18,501
13,154
.
Forfeited during year
558
Matured during year
Shares in force
Shares now pledged
3,869
72,887
40,860
August, No-
....
New
February, May,
series issued in
00
90
00
00
97
23
00
Members
Members who
Holders
of:
6,218
2,198
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
vember.
5,103
1,517
560
certificates
Profits Distributed
Unmatured Shares
First term,
1%%;
second term,
l%%.
15*%; fourth term,
1%%;
Matured and Paid-up Share
1M%; second term,
fourth term, 134%.
First term,
1M%;
third term,
Certificates
V/i%;
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
2,355 real estate loans (average, $3,139 each; average rate, 6%): 6%, $7,392,945.
289 share loans (average, $329 each; average rate, 6%): 6%, $95,072.
24 loans on matured share certificates : 6%, $12,842.
2 loans on paid-up share certificates : 6%, $700.
Total Expenses for Year
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
$17,364.00
2.23
Rent
Advertising
$1,000.00
.13
$1,082.62
.13
Other
Expenses
$9,288.45
1.20
Total
5,735.07
3.69
FOXBOROUGH — THE FOXBOROUGH CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 1000
Incorporated February 25, 1889.
Main
Began business March
Street, Walpole)
19,
1889
Harry P. Boyce, Treasurer
Forrest Bassett, President
Board of Directors: Forrest Bassett*, H. P. Boyce, E. H. Bristol, B. P. Crocker, F. N. Griffiths, P. J. Haigis,
H. E. Newton*, F. H. Richards, H. G. Smith*, J. H. Smith*, H. M. Stowell*. Thomas Tierney*.
Regular meeting for receipt of moneys the third Wednesday of each month.
* Security Committee.
86
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
17,
....
00
00
00
00
242 25
655 39
490 39
23
$1,034,450
25,455
3,070
8,890
....
....
13,142 88
155 24
.
....
....
....
.....
Dues capital
Profits capital
$716,547
159,104
149,200
20,482
Matured share certificates
Guaranty fund
Surplus
15,661
6,112
Interest
Fines
Transfer fees
512
Withdrawal
356
profits
Bills payable for money
Due on uncompleted
2
borrowed
15,000
3,490
81
loans
Security committee
$1,086,551 38
Membership
2,590
1,057
.
92
698
....
series issued in
00
23
00
84
82
25
57
75
92
00
00
00
$1,086,551 38
Serial Shares
New
III.
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Overs and shorts
Due from trust companies and national banks
Cash and cash items
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Part
1928
13,659
5,734
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
March, September.
1,230
483
.
1,188
127
.
Profits Distributed
Unmatured Shares
First term,
3%; second
3%.
term,
Matured Share
Certificates
2V2 %;
second term,
Proportion of profits retained on voluntary withdrawals, 25%.
First term,
425
2Y2 %.
Rates and Averages on Loans
average rate, 6%): 6%, $1,034,450.
loans (average, $499 each; average rate, 6%): 6%, $25,455.
on matured share certificates 6%, $3,070.
real estate loans (average, $2,434 each;
51 share
7 loans
:
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Advertising
Total
$,396.00
$386.90
$172.53
;i,134.28
5,089.71
3.13
.35
.16
1.04
4.68
FRAMINGHAM — FRAMINGHAM CO-OPERATIVE BANK
Incorporated April 16, 1889.
Began business
May
6,
1889
Harrie L. Davenport, Treasurer
Alvah T. Bridges, President
Chester A. Dunlap, Assistant Treasurer
Board of Directors: G. L. Avery, A. E. Bent, A. T. Bridges, H. L. Davenport, H. S. Dennison, C. H. Eames*,
F. H. Fales*, A. H. Fiske, C. N. Hargraves, F. H. Hilton, R. E. Kerwin, I. W. Kokins, Howard Mason,
B. L. Moore, R. H. O'Brien*, David Robertson, H. F. Scott, J. E. Stripp, J. H. Temple, A. J. Travis,
H. S. Varney.
Regular meeting for receipt of moneys the
first
Monday
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
Real estate by foreclosure,
Unpaid
.
.
.
etc.
interest
Insurance and taxes paid
Due from trust companies
tional banks
.
'
.
....
Cash and cash items
1,
1928
Liabilities
00
00
00
00
45,145 97
,756,245
98,310
15,015
4,300
11,288 51
251 96
and na106,217 47
715 72
Dues
capital
Profits capital
Matured share
....
certificates
.
.
.
.
.
.
.
.
.
.
.
.
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
Security committee
Dividends on matured share
.
cates
.
.
Dividends on paid-up share
cates
$6,037,489 63
* Security Committee.
$2,744,948
578,682
1,889,200
565,600
120,768
65,832
41,650
123
00
76
00
00
45
42
00
00
certifi.
.
23,615 00
certifi-
7,070 00
$6,037,489 63
-
P.D.
8,
Part
87
III.
Membership
Serial Shares
Issued during year
Withdrawn during year
13,388
10,581
.
Forfeited during year
426
Matured during year
1,832
Shares in force
Shares now pledged
New
series issued in
February, May,
55,653
32,579
August, No-
Members
Members who
Holders
of:
5,525
1,850
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
vember.
3,832
1,420
513
certificates
Profits Distributed
Unmatured Shares
First term,
iyS %;
1%%;
second term,
fourth term,
iys %.
1%%\
Matured and Paid-up Share
First term, 114%', second term,
IM%\
fourth term,
third term,
Certificates
1%%;
third term,
\U%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1,579 real estate loans (average, $3,645 each; average rate, 5.73%): 5%, $86,250; 5H%, $236,125; 5%%,
$5,406,720; 6%, $27,150.
l
$30,900; 6%, $64,490.
341 share loans (average, $288 each; average rate, 5.81%): 5%, $2,920; 5 A%,
43 loans on matured share certificates : 5%, $2,400; 6%, $12,615.
7 loans on paid-up share certificates: 5%, $2,100; 5^%, $1,260; 6%, $940.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$13,349.72
2.21
$754.77
$581.66
Other
Expenses
$3,706.65
.13
.10
.61
Total
$18,392.80
3.05
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
Willis A. Kingsbury, Jr., Treasurer
Blodgett, President
Anna M. Mulcahy,
Assistant Treasurer
Board
W. Blodgett, F. B. Burns, 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. M. Merriam, J. J. Murphv, T. G. Portmore, J. J. Prindiville, J. P. Shay, J. J. Slattery, J. S. Stone, W. E. Sullivan* A. E. Svenson, E. S. Taylor, W. H. Twiss, H. F. Twombly*.
of Directors: E.
Regular meeting 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 paid-up share certificates
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
$961,400 00
17,971 00
350 00
9,939 06
5,293 61
564 26
500 00
571 22
198 21
27 60
....
Personal accounts
Due from
.
trust companies
and
Dues capital
Profits capital
>752,787 00
.
Paid-up share
134,905
99,000
197
10,292
6,755
5,974
189
10,225
39
certificates
Forfeited share account
.
Guaranty fund
Surplus
....
Interest
Fines
Due on uncompleted
loans
Security committee
16
04
31
31
65
01
00
$1,020,365 47
Membership
Serial Shares
....
....
....
6,935
5,939
Forfeited during year
106
in
Shares
force
19,168
Shares now pledged
5,913
New series issued in January, April, July, October.
.
99
00
23,390 27
160 24
$1,020,365 47
Issued during year
1928
m
tional banks
Cash and cash items
Withdrawn during year
15,
Liabilities
.
.
.
.
.
.
.
Members
Members who
1,321
335
are borrowers
Holders of: —
Unmatured shares
Paid-up share
1,254
102
certificates
Profits Distributed
First term,
m%;
\
Unmatured Shares
second term, 1J^%; third term,
A%;
X
fourth term,
iy2 %.
Paid-up Share
Certificates
1J4%; second term,
fourth term, l\i%.
First term,
1M%;
Proportion of profits retained on voluntary withdrawals, none.
* Security Committee.
1M%;
third term,
P.D.
88
Rates and Averages on Loans
277 real estate loans (average, $3,471 each; average rate, 6.99%): 6%, $2,700; 7%,
61 share loans (average, $295 each; average rate, 7%): 7%, $17,971.
1 loan on paid-up share certificates
7%, $350.
Part III.
8,
,700.
:
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
1,439.10
.
4.35
FRANKLIN
— DEAN
Other
Expenses
Advertising
$298.00
$1,448.58
1.42
Total
$1,660.79
1.63
.29
r,846.47
7.69
CO-OPERATIVE BANK
Incorporated June 15, 1889.
Began business July
1889
2,
Jacob F. Geb, President
Orestes T. Doe, Treasurer
Board of Directors: W. F. Bennett, B. P. Chapman, A. B. Chilson, O. T. Doe, J. F. Geb, H. W. Hosie, C. B.
Hutchinson, W. S. Johnson, A. H. Mann, A. C. Mason*, L. A. Pond, J. M. Supple*, P. A. Woodward*
Regular meeting 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
Loans on paid-up share certificates
Temporary expense account
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
.
.
.
.
.
.
.
.
.
.
.
2,
1928
Liabilities
$661,050
11,290
175
510
130
00
00
00
83
69
17,293 25
182 60
Dues capital
Profits capital
$470,931
90,939
42,200
42,800
9,528
10,163
13,348
.
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Interest
Fines
Transfer fees
269 14
25
510 21
9,825 00
116 00
.
Withdrawal profits
Due on uncompleted loans
Security committee
$690,632 37
$690,632 37
Membership
Serial Shares
Issued during year
Withdrawn during year
Matured during year
.
Shares in force
Shares now pledged
New
series issued in
00
77
00
00
58
43
99
......
1,371
1,176
Members
Members who
199
9,058
3,726
Holders
of:
— are borrowers
....
Unmatured shares
Matured share certificates
Paid-up share
January, July.
747
264
.
713
40
37
.
certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
3%.
Matured and Paid-up Share
A%;
First term, 2 l
Proportion of profits retained on voluntary withdrawals,
second term,
50%
Certificates
2^%.
of last dividend.
Rates and Averages on Loans
340 real estate loans (average, $1,944 each; average rate, 6%): 6%, $661,050.
44 share loans (average, $256 each; average rate, 6%): 6%, $11,290.
2 loans on paid-up share certificates : 6%, $175.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
$1,200.00
1.74
* Security Committee.
Advertising
Other
Expenses
$263.60
$1,463.60
.38
2. 12
Total
P.D.
8,
89
Part III
GARDNER
THE CHAIR-TOWN CO-OPERATIVE BANK
Began business January
Incorporated January 22, 1915.
Otto
W.
26, 1915
Frank B. Edgell, Treasurer
Siebert, President
Agnes V. Whitney, Assistant Treasurer
Board of Directors: M. E. S. Anderholm, C. J. Ballou, N. Beaudet, H. W. Blake, G. W. Bourn, E. A. Brooks,
A. B. Bryant, H. H. Cohen*, E. W. Crouch, D. D. Dora*, F. B. Edgell, O. Hakkinen, S. H. Hartshorn,
G. A. Keyworth, John Kuczynski, P. H. Loughlin, J. E. Millet, G. L. Minott, C. P. Pearson, L. E. Robillard*, A. Rosenberg, F. A. Rothlis, D. W. Siebert, O. W. Siebert*, J. H. L. Smead, L. E. Smith*, A. H.
Stone, R. M. Tappin, F. A. Thatcher, C. E. Thompson, J. A. Timpany, J. O. Torppa, F. D. Tousignant,
Marden Turner, Glen Underwood, G. R. Warfield.
Regular meeting for receipt of moneys the fourth 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
Common form mortgages
Real estate by foreclosure, etc.
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Due from
tional
....
trust companies
banks
23, 1928
Liabilities
$865,950
20,933
250
24,594
67,131
Dues capital
Profits capital
00
00
00
00
79
$608,307
139,164
189,000
97,800
195
20,545
18,053
3,643
333
110
.
Matured share
certificates
share certificates
Paid-up
Forfeited share account
Guaranty fund
1,791 67
Surplus
576 55
182 52
Interest
Premiums
and na96,012 39
Fines
Transfer
00
63
00
00
66
55
75
31
20
88
50
67 44
200 00
fee's
Withdrawal profits
Due on uncompleted loans
51,077,421 92
$1,077,421 92
Membership
Serial Shares
Members
Members who
Issued during year
2,079
Withdrawn during year
2,224
Forfeited during year
171
Matured during year
452
Shares in force
12,069
Shares now pledged
4,958
New series issued in January, April, July, October.
.
362
Unmatured shares
Matured share certificates
1,068
Holders
....
1,222
— are borrowers
of:
Paid-up share
194
93
certificates
Profits Distributed
Unmatured Shares
13^%; second term, lJ-^%;
13^%; fourth term, 13^%.
First term,
Matured Share
First term,
5
l /f6
%;
1M%;
A%\
\ Z
IVK %.
Paid-up Share
First term,
Certificates
1%,%; second term,
fourth term,
Proportion of profits retained on voluntary withdrawals,
50%
third term,
Certificates
134%; second term, 134%;
fourth term,
third term,
third term,
1M%-
of last dividend.
Rates and Averages on Loans
300 real estate loans (average, $2,886 each; average rate, 6.44%): 6%, $478,650; 7%, $387,300.
60 share loans (average, $349 each; average rate, 6.43%): 6%, $11,233; 63-2%, $1,180; 7%, $8,520.
1 loan on matured share certificates: 6%, $250.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
3,894.02
3.61
Rent
$1,797.96
1.67
Advertising
$269.53
.25
Other
Expenses
$2,241.42
2.08
Total
$8,202.93
7.61
GARDNER — GARDNER CO-OPERATIVE BANK
Incorporated January 14, 1889.
Began business March
Louis A. Greenwood, President
12,
1889
Harrison Greenwood, Treasurer
Board of Directors: A. A. Bent, C. A. Brown, Hosea Carter, Jr.*, D. K. Dickerman, H. E. Drake, F. M. Favor,
Harrison Greenwood*, L. A. Greenwood, J. H. Hager*, C. H. Hedstrom, H. S. Kendall, G. R. Lowe,
J. W. McVine, Carroll St. Hilaire, H. H. Smith.
Regular meeting for receipt of moneys the second Tuesday of each month.
* Security Committee.
90
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
form mortgages
Real estate by foreclosure, etc.
Banking house
Common
8,
9,
Liabilities
$1,664,835
18,355
2,070
500
7,796
14,592
33,000
Dues capital
Profits capital
00
00
00
00
Matured share
Interest
Premiums
Due from
trust companies and na
banks
Cash and cash items
.
200 00
$1,868,509 72
$1,868,509 72
Membership
Serial Shares
Issued during year
.....
Members
Members who
3,100
2,211
Withdrawn during year
Forfeited during year
Holders
83
799
20,009
9,146
Matured during year
Shares in force
Shares now pledged
series issued in
51
05
381 44
392 26
3 00
.
Withdrawal profits
Overs and shorts
125,862 95
tional
certificates
Paid-up share certificates
Guaranty fund
Surplus
Fines
00
86
00
00
75
85
$1,049,779
224,314
360,800
156,800
33,699
22,927
17,595
1,816
.
01
46
00
1,012 56
285 74
Temporary expense account
Insurance and taxes paid
New
Part III.
1928
of:
— are borrowers
1,753
616
.
Unmatured shares
Matured share certificates
1,574
297
.
Paid-up share certificates
130
March, September.
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%,%; second term, 2Y%%.
term,
Matured Share
Paid-up Share
3%.
Certificates
Certificates
2J^%; second term,
Proportion of profits retained on voluntary withdrawals, 10%.
Rates and Averages on Loans
554 real estate loans (average, $3,005 each; average rate, 6%): 6%, $1,664,835.
59 share loans (average, $311 each; average rate, 6%): 6%, $18,355.
4 loans on matured share certificates: 6%, $2,070.
1 loan on paid-up share certificates: 6%, $500.
Total Expenses for Year
First term,
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$4,316.65
2.31
.
GLOUCESTER
— GLOUCESTER
Incorporated March
2,
1887.
Advertising
$505.00
$122.82
.27
.07
2Y2 %.
Other
Expenses
Total
$2,026.43
1.08
$6,970.90
3.73
CO-OPERATIVE BANK
Began business April
14,
1887
Arthur
Maurice F. Foley, President
J.
Hall, Treasurer
Board of Directors: M. F. Bucklev, E. C. Carroll, R. E. Cunningham, J. W. Darcy, M. F. Foley*, J. A. Hanson,
Edward Hodgkins, Frederick Lane*, F. W. Lothrop*, J. J. Lowrie, J. F. MacPhee*, D. O. Marshall,
G. E. Merchant, A. E. Presson*, F. A. Shackelford.
Regular meeting 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 certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Banking house
Temporary expense account
Insurance and taxes paid
Overs and shorts
Due from trust companies and na
.
tional banks
Cash and cash items
11,
1928
Liabilities
,189,700 00
00
00
00
60
95
343 58
256 91
65 59
66,685
6,825
150
3,030
7.239
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
324
.
Guaranty fund
65,612
31,995
5,639
Surplus
Interest
....
Premiums
Fines
89,362 19
1,762 75
$1,944,809
441,865
675,400
171,200
.
Due on uncompleted
867 or,
480 23
13,231 25
121 00
5 40
loans
Security committee
Personal accounts
.
Due oh
911 20
foreclosure sales
Other liabilities
Dividends on matured share
1,529 54
certifi
9,286 75
cates
Dividends on paid-up share
cates
certifi
2,142 50
$3,365,421 57
$3,365,421 57
* Security
00
49
00
00
00
32
86
98
Committee.
P.D.
8,
Part
91
III.
Membership
Serial Shares
Issued during year
Members
Members who
7,991
4,102
Withdrawn during year
Holders
84
850
Forfeited during year
Matured during year
Unmatured shares
Matured share certificates
38,636
17,466
January,
April,
July,
October.
series issued in
Shares in force
Shares now pledged
New
of:
3,840
1,396
— are borrowers
Paid-up share
3,559
596
138
certificates
Profits Distributed
Unmatured Shares
First term, \
IH%;
A%;
second term,
X
fourth term,
l
A%.
Matured Share
iy8 %;
First term,
1M%;
third term,
Certificates
1%%;
second term,
fourth term, l%%.
First term,
A%\
\X
l
1%%;
third term,
Paid-up Share Certificates
second term, 134%; third term,
1M%;
1M%
fourth term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1,820 real estate loans (average, $2,416 each; average rate, 6.3%): 6»/io%, $3,188,800; 6 */»%, $900.
168 share loans (average, $409 each; average rate, 6.33%): 6 3 /io%, $61,250; 6 37 /ioo%, $525; 6 2 / 6 %, $1,650;
6 42/ioo%, $280; 652/ioo%, $125; 6"/ioo%, $115; 6«/io%, $1,400; 6«>/ioo%, $90; 6M%, $160; 68s/ioo%, $375;
7Vioo%, $65; 71/5%, $350; 7 4 <7ioo%, $90; 73^%, $40; 8%, $60; 8 6Vioo%, $100; 12%, $10.
15 loans on matured share certificates: 6*/io%, $6,100; 6«/ioo%, $175; 6 2 /5 %, $450; 6Vo%, $100.
1 loan on paid-up share certificates : 62/5%, $150.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$75.39
51,123.44
.33
),375.83
.
2.79
Other
Expenses
Advertising
Total
$13,176.39
3.91
$2,601.73
.77
.02
GRAFTON — GRAFTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Millbury, 13-15 Federal Street, Worcester;
Whitinsville)
Incorporated October 19, 1887.
Began business November
Ellsworth E. Howe, President
10,
1887
Harold A. Simmons, Treasurer
Kathrina A. Dodge, Assistant Treasurer
S. L. Davenport, E. J. Driscoll, C. H. Earnshaw, W. O.
Leonard, F. C. Martin, H. L. Reynolds*, H. A. Simmons*, E. W. Stone.
Board of Directors: R. E. Allen, F. A. Anderson*,
Halpin, E. E. Howe, R.
S.
Regular meeting 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.
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
11,
1928
Liabilities
!,756,105 00
53,535 00
24,084 71
449 01
Dues
.....
....
capital
Profits capital
Matured share
Paid-up
certificates
share certificates
Guaranty fund
Surplus
.
.
Due on uncompleted
.
.
loans
Dividends on matured share
cates
Dividends on paid-up share
cates
$2,964,900 19
* Security
.
....
Forfeited share account
127,915 66
2,810 81
.
$1,767,405
395,366
583,400
67,400
.
.
.
.
734
.
.
.
.
59,923
45,067
27,875
00
16
00
00
84
41
28
00
certifi-
16,043 50
certifi-
1,685 00
$2,964,900 19
Committee.
P.D.
Membership
92
Serial Shares
Issued during year
Shares in force
Shares now pledged
New
series issued in
Members
Members who
6,421
3,724
1,252
34,940
15,685
Withdrawn during year
Matured during year
Part III.
3,856
are borrowers
977
Unmatured shares
Matured share certificates
3,650
Holders
May, November
8,
—
of:
Paid-up share
434
46
certificates
Profits Distributed
Unmatured Shares
3%.
First term,
3%; second
First term,
2%%;
First term,
2}4%; second term, 2J^%.
term,
Matured Share
Paid-up Share
50%
Proportion of profits retained on voluntary withdrawals,
Certificates
second term,
2%%.
Certificates
of last dividend.
Rates and Averages on Loans
872 real estate loans (average, $3,161 each; average rate, 6 50%): 6%%, $2,756,105.
263 share loans (average, $204 each; average rate, 7%): 7%, $53,535.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
GREAT BARRINGTON
Salaries
Rent
$5,314.88
1.79
$500.00
$239.60
.17
.08
— THE
Advertising
Other
Expenses
$2,853.62
.96
Total
$8,908. 10
3.00
HOUSATONIC CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: P. J. Kane's Store, Depot Street, Housatonic,
and office of Clerk of Central District Court, Great Barrington)
Incorporated June
12, 1889.
Began business July
1,
Elmer C. Herrick, President
Board
1889
Dennis C. Killeen, Treasurer
of Directors: F. E. Chamberlin, C. P.
Comstock* James Doon, Sr., J. F. Gerard*, Charles
J. F. Mack*, G. C. Najar.
Gillett, E. C.
Herrick, D. C. Killeen,
Regular meeting for receipt of moneys the
first
Monday
each month.
of
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
Loans on real estate
Loans on shares
Due from trust companies and national banks
Cash and cash items
1,
Liabilities
$384,400 00
6,150 00
Dues capital
Profits capital
$218,481
40,377
86,600
36,800
.
6,459 13
729 07
Paid-up
certificates
share certificates
Guaranty fund
.
.
Due on uncompleted loans
Dividends on matured share
cates
.
certifi.
.
.
Dividends on paid-up share
cates
.
920 00
.
$397,738 20
Membership
Serial Shares
Shares in force
Shares now pledged
New
series issued in
2,056 65
certifi-
$397,738 20
Issued during year
00
60
00
00
7,257 07
4,245 88
1,000 00
.
Matured share
Surplus
Withdrawn during year
Matured during year
1928
989
952
189
4,511
2,285
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
May, November.
Paid-up share
530
200
.
474
73
37
.
certificates
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
First term, 2 3^%; second term,
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
series less
23^%.
than 5 years old; after 5 years,
Rates and Averages on Loans
177 real estate loans (average, $2,172 each; average rate, 5.49%): 5%, $3,600;
87 share loans (average, $228 each; average rate, 5.50%): 5J^%, $6,150.
* Security
Committee.
5M%,
$380,800.
P.D.
8,
93
Part III.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
GREENFIELD
Salaries
Rent
Advertising
$900.00
2.26
$18.00
$119.27
.05
.30
— GREENFIELD
.53
Total
$1,249.93
3.14
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Turners
and East
Other
Expenses
$212.66
Falls, Millers Falls,
Shelburne Falls
Northfield)
Incorporated June 21, 1905.
Began business July
11,
1905
Henry
William B. Allen, President
S. Franklin, Treasurer
Catherine V. Studer, Assistant Treasurer
Board of Directors: W. B. Allen, F. R. Andrews, G. E. Davis, P. E. Fay*, H. S. Franklin, L. W. Griswold,
F. E. Hawks*, F. A. Loomis* M. H. Nichols, C. E. Powers, A. H. Rist, A. C. E. Stimson*, W. H. Weissbrod, G. H. Wilkins, C. E. Winslow.
Regular meeting for receipt of moneys the second Tuesday 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
$1,828,400 00
61,575 00
7,590 00
Dues capital
Profits capital
610 00
2,423 54
Paid-up share
Temporary expense account
Due from
tional
trust companies
and na -
banks
Matured share
00
24
00
00
00
74
37
83
1,131 93
2 25
2,750 00
$1,206,244
195,554
355,200
150,400
5
34,282
26,541
38,430
certificates
certificates
Forfeited share account
....
....
.....
.
Guaranty fund
109,416 78
527 04
Cash and cash items
Surplus
Interest
...
Fines
Transfer fees
Due on uncompleted
loans
$2,010,542 36
$2,010,542 36
Membership
Serial Shares
Issued durihg year
Withdrawn during year
6,072
5,080
.
Forfeited during year
198
410
27,661
Matured during year
Shares in force
Shares now pledged
New
1928
9,
Liabilities
11,600
....
Members
Members who
Holders
of:
— are borrowers
2,412
878
.
Unmatured shares
Matured share certificates
2,169
305
.
143
Paid-up share certificates
series issued in January, July.
Profits Distributed
Unmatured Shares and Matured Share
2%%;
First term,
2J^%; second term, 2}i%.
second term,
Paid-up Share
Certificates
2%%.
First term,
Certificates
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
714 real estate loans (average, $2,561 each; average rate, 6%): 6%, $1,828,400.
157 share loans (average, $392 each; average rate, 6%): 6%, $61,575.
11 loans on matured share certificates: 6%, $7,590.
4 loans on paid-up share certificates : 6%, $610.
Total Expenses for Year
Salaries
Amount paid
Cost
$5,515.32
2.74
for
per $1,000 of assets
.
GROVELAND
Rent
— THE
41
47
Advertising
Other
Expenses
Total
$117.64
$1,872.73
$.442.10
.06
.93
4.20
GROVELAND CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 111 Merrimack Street, Haverhill)
Incorporated
November
4,
1895.
Began business November
Harry W. Vaughan, President
19,
1895
George Mitchell, Treasurer
Board of Directors : A. H. Amazeen*, Theodore Dewhurst, H. W. Hardy, John Magee, J. W. McGinley, George
Mitchell*, C. H. Pike, R. T. Shea, E. L. Sides, F. R. Spofford, A. G. Twombly*, H. W. Vaughan*, A. L.
Wales*.
Regular meeting for receipt of moneys the third Tuesday of each month.
* Security Committee.
'
94
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
.
Temporary expense account
Insurance and taxes paid
Personal accounts
.
Other assets
Overs and shorts
Due from trust companies and national banks
Dues
$585,650 00
9,075 00
1,287 65
188 07
2,936 94
capital
Profits capital
.
.
Matured share certificates
Guaranty fund
Surplus
25
80
....
.....
Interest
15,112 10
586 82
4 00
Fines
Transfer fees
Withdrawal
8,320 56
profits
272 66
payable for money borrowed
Due on uncompleted loans
Other
6,000 00
3,050 00
66 47
liabilities
$607,459 27
$607,459 27
Serial Shares
New
series issued in
III.
1928
$303,375 00
56,676 30
194,200 00
13,797 23
14,318 69
.
Bills
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
Part
Liabilities
....
.....
....
....
Loans on real estate
Loans on shares
8,
16,
Membership
.....
Members
Members who
1,070
696
.
Holders
15
of:
— are borrowers
Unmatured shares
Matured share certificates
355
5,924
3,201
May, November.
644
284
.
560
158
.
Profits Distributed
Unmatured Shares
3%; second
First term,
Proportion of profits
term,
3%.
Matured Share Certificates
5
First term, 2 h/%%\ second term, 2 A%.
retained on voluntary withdrawals, 25% on series less than 2 years old; 10% thereafter.
Rates and Averages on Loans
255 real estate loans (average, $2,297 each; average rate, 6%): 6%, $585,650.
30 share loans (average, $302 each; average rate, 6%): 6%, $9,075.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$1,900.00
3.13
$292 63
48
$98 40
16
Other
Expenses
$251.91
.41
Total
$2,542. 94
4. 18
HAVERHILL — CITIZEN'S CO-OPERATIVE BANK
Incorporated August 22, 1887.
William
W.
Began business September
1887
12,
Daniel C. Hunt, Treasurer
Spaulding, President
Board of Directors: H. M. Goodwin, D. C. Hunt*, N. C. Johnson*, H. E. Lewis*, F. D. McGregor, C. A.
Pingree,
W. W.
Spaulding.
Regular meeting for receipt of moneys the second
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Due from trust companies and
.
banks
Cash and cash items
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
tional
8,
00
00
00
00
33
479 03
2,490 83
,929,955
65,285
5,325
4,200
7,479
na-
Dues capital
Profits capital
.
Matured share certificates
Forfeited share account
.
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
54,472 25
4,129 71
Withdrawal profits
Due on uncompleted loans
$2,073,816 15
* Security Committee.
00
70
00
07
25
50
93
69
25
52 09
$1,341,652
308,299
317,400
156
44,992
44,076
10,394
361
6,430 67
$2,073,816 15
P.D
.
8,
Part
95
III.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
....
New
.....
Members
Members who
3,339
2,316
21
1,322
24,081
11,767
.
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
series issued in April, October.
2,168
877
.
2,049
249
.
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
Matured Share
3%.
Certificates
2Y2 %\
second term,
Proportion of profits retained on voluntary withdrawals, 10%.
First term,
2Y2 %.
Rates and Averages on Loans
785 real estate loans (average, $2,459 each; average rate, 6%): 6%, $1,929,955.
265 share loans (average, $246 each; average rate, 6%): 6%, $65,285.
14 loans on matured share certificates: 6%, $5,325.
Total Expenses for Year
Rent
Salaries
Amount
83,572.00
paid for
Cost per $1,000 of assets
.
1.72
$35.10
Other
Expenses
$1,972.70
.02
.95
Advertising
L.028.17
.50
Total
$6,607.97
3.19
HAVERHILL — HAVERHILL CO-OPERATIVE BANK
Began business September
Incorporated August 20, 1877.
Edward A.
3,
1877
James G. Page, Treasurer
Fitts, President
Edna E. Gage,
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 meeting for receipt of moneys the
first
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Due from
....
....
....
....
trust companies and nabanks
Cash and cash items
tional
$2,956,725 00
104,160 00
900 00
52
77
07
68
6,338
25,714
133
3,068
64,295 90
532 50
....
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
certifi
7,040 00
$3,161,868 44
Membership
Serial Shares
Issued during year
.
.
.
6,596
4,426
231
2,025
40,250
18,249
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
....
New
series issued in
$2,170,395 00
503,267 32
281,600 00
524 21
204 50
157,897 88
3,339 53
25,000 00
12,600 00
.
$3,161,868 44
Withdrawn during year
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Unpaid interest
Insurance and taxes paid
Personal accounts
1,
.....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
May, November.
.
3,415
.
Profits Distributed
Unmatured Shares
First term,
3M%;
second term, 3%.
Matured Share
Proportion of profits
Certificates
2J^%; second term, 2J^%.
retained on voluntary withdrawals, 10%.
First term,
Rates and Averages on Loans
1,052 real estate loans (average, $2,811 each; average rate, 6%): 6%, $2,956,725.
491 share loans (average, $212 each; average rate, 6%): 6%, $104,160.
1 loan on matured share certificates: 6%,
* Security
Committee.
3,519
1,297
245
96
P.D.
Part III.
8,
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.44
.25
58,087.00
.
2.56
HINGHAM
— THE HINGHAM
$286.68
Other
Expenses
$2,153.06
.09
.68
Advertising
Total
$11,329.18
3.58
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Office of Rhodes Ripley Co., 35 Kneeland Street,
Boston; store of F. A. Loud & Co., East Weymouth)
Incorporated June
1889.
1,
Began business June
1889
5,
Ira G. Hersey, President
George
Marsh, Treasurer
S.
Board of Directors: C. S. Cushing*. 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 meeting 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
Real estate by foreclosure, etc.
Unpaid interest
Unpaid fines
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
....
Dues capital
Profits capital
00
00
00
32
72
695 78
563 76
,499,150
50,675
2,150
7,720
5,475
$983,540 00
210,969 29
334,800 00
1,239 53
2,073 85
35,361 31
27,196 63
183 00
5,400 00
.
Matured share
certificates
Forfeited share account
Matured share account
.
.
Guaranty fund
Surplus
Interest
Due on uncompleted
38,500 79
435 74
loans
Dividends on matured share
cates
certifi
4,603 50
.
$1,605,367 11
$1,605,367 11
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
1928
3,
Liabilities
....
Members
Members who
3,617
2,216
60
.
....
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
532
19,616
8,254
May, August, No-
1,667
604
.
1,614
290
.
Profits Distributed
vember.
Unmatured Shares
First term,
l
A%;
l
second term,
13^2%; fourth term,
\y2 %.
Matured Share
A%\
\X
third term,
Certificates
1%%;
second term, \V%%; third term,
l 8 %; fourth term, 1%%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years; 10% on series from
5 to 10 years old; 5% thereafter.
First term,
/
s
Rates and Averages on Loans
480 real estate loans (average, $3,123 each; average rate, 6%): 534%, $1,150; 6%, $1,498,000.
288 share loans (average, $176 each; average rate, 6%): 6%, $50,675.
6 loans on matured share certificates: 6%, $2,150.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$4,415.00
2.75
$305.83
$95.80
.19
.06
Advertising
Other
Expenses
$1,171.77
.73
Total
$5,988.40
3.73
HOLBROOK — THE HOLBROOK CO-OPERATIVE BANK
Incorporated June
9,
1888.
Began business June
11,
1888
Frederic
Fred A. Gardner, President
W.
Blanchard, Treasurer
of Directors: F. W. Blanchard, F. B. Brooks*, J. H. Card, F. B. Diman* W. B. Emery, L. E. Flye,
P. H. Fraher, F. A. Gardner*, John King, W. W. Lincoln, G. W. Porter, J. W. Porter, F. G. Reed, E. S.
Rogers, A. T. South worth, Q. E. White, G. T. Wilde, W. B. Wilde.
Board
Regular meeting for receipt of moneys the second Tuesday of each month.
* Security
Committee.
P.D.
8,
Part
97
III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
1928
9,
Liabilities
$722,200 00
12,815 00
1,075 00
4,215 00
953 37
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Temporary expense account
Due from trust companies and national banks
Cash and cash items
Dues capital
Profits capital
Matured share
certificates
share certificates
Paid-up
Guaranty fund
Surplus
20,882 44
1,311 47
582
371
2,105
90
Fines
$763,452 38
$763,452 38
Membership
Serial Shares
Issued during year
1,411
706
20
545
.
Forfeited during year
....
Matured during year
Shares in force
Shares now pledged
New
series issued in June,
64
00
00
07
53
63
59
67
75
50
13,091
18,379
Interest
Withdrawal profits
Due on uncompleted loans
Security committee
Withdrawn during year
00
$427,571
89,684
168,200
22,200
21,175
.
7,840
4,118
.....
—
Members
Members who
Holders
of:
are borrowers
681
289
.
Unmatured shares
Matured share certificates
670
144
23
.
Paid-up share certificates
December.
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
First term,
2V2 %\
term,
Matured Share
3%.
Certificates
second term,
2%%.
Paid-up Share Certificates
second term, 2V2 %.
Proportion of profits retained on voluntary withdrawals, 25%.
Rates and Averages on Loans
285 real estate loans (average, $2,534 each; average rate, 6%): 6%, $722,200.
32 share loans (average, $400 each; average rate, 6%): 6%, $12,815.
3 loans dn matured share certificates : 6%, $1,075.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$1,500.00
1.97
$120.00
$25.60
.16
.03
Other
Expenses
$819.29
Advertising
1.07
Total
$2,464.89
3.23
HOL YOKE — THE 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 meeting for receipt of moneys the
last
Tuesday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
Bonds
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
Real estate by foreclosure,
etc.
....
Unpaid interest
Unpaid fines
Temporary expense account
Due from trust companies and na
tional banks
Cash and cash items
30, 1928
Liabilities
$1,446,210
36,205
3,575
4,275
95,000
5,523
6,283
00
00
00
00
00
67
15
361 02
713 17
Dues
capital
Profits capital
.
Matured share
certificates
share certificates
Paid-up
Guaranty fund
Surplus
Interest
Fines
*
Transfer fees
Security committee
.
.
$951,901
168,230
302,400
130,600
35,113
42,572
7,635
146
00
81
00
00
45
34
91
71
1 50
60 00
34,825 21
5,690 50
$1,638,661 72
* Security Committee.
$1,638,661 72
98
P.D.
Issued during year
Part
Members
Members who
4,207
Withdrawn during year
8,
III.
Membership
Serial Shares
2,988
Forfeited during year
52
Matured during year
396
Shares in force
20,652
Shares now pledged
8,495
New series issued in January, April, July, October.
.
655
Unmatured shares
Matured share certificates
1,663
Holders
....
1,805
— are borrowers
of:
Paid-up share
245
103
certificates
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
\\i%\ second term,
First term,
\
x
/i%\
third term,
1)4%', fourth term, 1M%Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
564 real estate loans (average, $2,564 each; average rate, 6%): 6%, $1,446,210.
146 share loans (average, $248 each; average rate, 6%): 6%, $36,205.
7 loans on matured share certificates: 6%, $3,575.
4 loans on paid-up share certificates: 6%, $4,275.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
54,995.45
$508.23
$329.94
3.05
.31
.20
Other
Expenses
Total
$1,469.22
.90
$7,302.84
4.46
Advertising
HOLYOKE — HOLYOKE CO-OPERATIVE BANK
Incorporated July 24, 1880.
Charles L.
Newcomb,
Began business August
25,
1880
Frank
President
J.
Phelps, Treasurer
W. F. Bachelder, F. A. Brainerd, John Hildreth, E. D. Lamb, C. L. Newcomb, R. E.
Philip O'Brien, F. J. Phelps*, G. W. Ritter, L. M. Thorpe, J. B. Williams*, L. M. Yoerg.
Board of Directors:
Newcomb*,
Regular meeting for receipt of moneys the fourth 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
Bonds and notes
Common form mortgages
Real estate by foreclosure, etc.
Insurance and taxes paid
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
.
24, 1928
Liabilities
$1,619,350
32,900
2,000
159,000
9,200
34,272
178
56
00
00
00
00
00
32
87
40
Dues capital
Profits capital
$1,313,796 00
262,634 29
247,800 00
.
Matured share
certificates
Forfeited share account
422 00
.
Guaranty fund
58,375 92
51,516 31
Surplus
Due on uncompleted
cates
400 00
loans
Dividends on matured share
certifi
7,434 00
.
85,320 93
100 00
$1,942,378 52
$1,942,378 52
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
4,221
3,300
176
231
25,547
9,398
Members
Members who
2,055
531
.
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
May, November
.
1,989
182
.
Profits Distributed
Unmatured Shares and Matured Share
First term,
Proportion of profits retained on voluntary withdrawals,
25%
on
Certificates
23^%; second term, 3%.
series less
than 5 years old;
10%
thereafter.
Rates and Averages on Loans
estate loans (average, $3,672 each; average rate, 5.99%): 5^%, $44,800; 6%, $1,574,550.
90 share loans (average, $366 each; average rate, 6%): 6%, $32,900.
5 loans on matured share certificates: 6%, $2,000.
441 real
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$5,494.00
2.83
$1,085.92
.56
* Security Committee.
Advertising
$8.10
Other
Expenses
£1,019. 46
.52
Total
$7,607.48
3.91
-
P.D.
8,
Part III.
HUDSON — HUDSON
99
CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 6
J.
Maynard)
Street,
Began business November
Incorporated October 22, 1885.
Elwin
Mason
19,
1885
Norman M. Hunter,
Prescott, President
Gertrude
W.
Treasurer
Fi London, Assistant Treasurer
Board of Directors: G. F. Allen*, E. W. Dunbar, 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, C. B. Wheeler,
A. E.
Woodbury.
Regular meeting for receipt of moneys the third Thursday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
18, 1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Banking house
Due from trust companies and na
tional banks
Cash and cash items
.
Dues capital
Profits capital
$2 453,800 00
49,050 00
2,450 00
2,050 00
26,280 76
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
80,966 03
50 00
Guaranty fund
.
Surplus
.
.
.
.
.
Due on uncompleted
cates
.
loans
00
99
00
00
85
34
77
00
certifi.
.
.
Dividends on paid-up share
cates
.
...
Dividends on matured share
7,743 34
.
certifi-
3,257 50
.
$2,614,646 79
$2,614,646 79
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in fo'rce
Shares now pledged
New series issued in February,
$1,315,140
280,948
644,200
260,600
1,059
53,174
24,647
23,875
i
.
....
—
Members
Members who
4,908
2,831
135
1,207
25,668
13,984
.
Holders
of:
are borrowers
Unmatured shares
Matured share certificates
Paid-up share
2,517
950
.
2,228
538
229
.
certificates
May, August, No-
vember.
Profits Distributed
Unmatured Shares
1^8%; second term, l%%;
First term,
lVs%; fourth term,
Matured and Paid-up Share
1%%;
First term,
1M%;
second term,
fourth term,
third term,
1%%.
1%%.
Certificates
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, /e. On mortgage loan accounts no withdrawal loss
money is entirely devoted to repayment of loan.
l
if
Rates and Averages on Loans
836 real estate loans (average, $2,935 each; average rate, 5.83%): 5^%, $807,600; 6%, $1,646,200.
r
206 share loans (average, $238 each; average rate, 5.93%): oY
2 %, $6,550; 6%, $42,500.
13 loans on matured share certificates : 6%, $2,450.
8 loans on paid-up share certificates : 6%, $2,050.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$4,188.78
1.60
.
IPSWICH
— IPSWICH
1,241.00
.48
Walter E.
Hay ward,
8,
1913.
$432.07
.16
Other
Expenses
Total
$2,065.88
.79
$7,927.73
3.03
CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Office of
Incorporated July
Advertising
J. A.
Marshall,
Began business July
14,
Main
1913
Frederick
President
Street, Rowley)
S.
Witham, Treasurer
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 meeting for receipt of moneys the second
* Security
Committee.
Monday
of
each month.
P.D.
100
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
.
.
certificates
Temporary expense account
Personal accounts
Overs and shorts
Dues from trust companies and national banks
Dues capital
Profits capital
$595,770 00
10,095 00
1,000 00
350 55
55 00
77 77
$349,584
65,550
127,200
50,200
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
1,772 67
1,089 81
Interest
48
Fines
Withdrawal profits
Due on uncompleted loans
16
4,400
$610,210 80
$610,210 80
Membership
Serial Shares
Issued during year
....
New
Members
Members who
1,457
1,046
.
Shares in force
Shares now pledged
253
Holders
.
of:
900
274
are borrowers
—
Unmatured shares
Matured share certificates
7,708
3,313
series issued in January, April, July, October.
.
00
24
00
00
00
83
67
77
35
94
00
10
7,672
2,625
2,902
Guaranty fund
Surplus
Cash and cash items
Withdrawn during year
Matured during year
III.
1928
Liabilities
....
....
....
....
Loans on real estate
Loans on shares
Loans on matured share
Part
8,
8,
.
Paid-up share
851
105
45
certificates
Profits Distributed
First term,
1H%;
Unmatured Shares
1}4%; second term, 1 ZA%\
fourth term,
Matured and Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
1J4%; second term,
fourth term,
10% on
series less
third term,
1%%.
1M%.
Certificates
1M%;
third term,
than 4 years old; after 4 years,
Rates and Averages on Loans
average rate, 6.1%): 6 1 /io%, $595,770.
31 share loans (average, $326 each; average rate, 6.1%): 6'/io%, $10,095.
1 loan on matured share certificates: 6 1 /io%, $1,000.
2^2
real estate loans (average, $2,462 each;
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,615.00
2.65
.
Rent
Advertising
$526.99
$122.00
.86
.20
Other
Expenses
$827.95
Total
5,091.94
5.07
1.36
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
Directors: R. V. Baketel, J. H. Bevington, R. W. Bevington*, O. W. Boothby, B. R. Bradley*, T. T.
Clark, D. J. Costello*, B. E. Crowell, W. D. Currier, N. F. DeCesare, D. C. Farr, G. E. Folk, A. C. Gaunt,
H. D. Grimes, F. H. Hardy, C. H. Kitchin, W. M. Lamont, F. W. McLanathan, W. A. Pedler, W. T.
Rochefort, F. A. Sherman, C. F. Smith, R. J. Watt, D. K. Webster, Jr.
Regular meeting for receipt of moneys the
last
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 certificates
Real estate by foreclosure, etc.
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
.....
....
Other assets
Overs and shorts
Due from trust companies and national banks
....
Cash and cash items
26, 1928
Liabilities
$1,061,100 00
16,818 00
875 00
61,233 88
498 50
401
50
21
42
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
29
Guaranty fund
14
Surplus
88
39
12,366 30
76 06
Interest
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Security committee
00
54
00
00
09
66
76
5,374 70
157 89
50
37 30
1,385 00
30 00
$1,153,483 44
$1,153,483 44
* Security
$769,419
152,454
88,800
89,600
168
26,851
19,204
Committee.
3
101
.D. 8, Part III.
Membership
Serial Shares
3,994
3,258
ssued during year
Vithdrawn during year
.
411
374
17,636
forfeited during year
Matured during year
Members
Members who
400
Unmatured shares
Matured share certificates
1,244
Holders
thares in force
6,092
>hares now pledged
^ew series issued in January, Apri I, July, October.
1,314
are borrowers
—
of:
Paid-up share
59
58
certificates
Profits Distributed
Unmatured Shares
1J^%; second term, \ X
fourth term, 1*4%.
A%\
First term,
1H%;
Matured and Paid-up Share
1M%;
First term,
1M%;
'roportion of profits retained on voluntary withdrawals,
25%
third term,
Certificates
1%%;
second term,
third term,
fourth term, \\i%.
on
than 5 years old; after 5 years-
series less
none.
Rates and Averages on Loans
6.49%): 6%, $21,700;
(average, $2,714 each; average
m share loansloans
$16,818.
(average, $152 each; average
6.5%):
loan on matured share certificates :
A%,
ox
rate,
11
1
J
$1,039,400.
6 A%,
rate,
real estate
(
6J^%, $875.
Total Expenses for Year
Amount paid
for
^ost per $1,000 of assets
.
Salaries
Rent
4,129.00
3.58
$696.00
$6.25
.60
.01
Advertising
Other
Expenses
Total
$1,330.11
1.15
5,161.36
5.34
LAWRENCE — LAWRENCE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Andover National Bank, Andover)
Incorporated
'"'rederic
March
12, 1888.
Began business April
6,
1888
William A. Whitney, Treasurer
N. Chandler, President
Ethel H. Bevington, Assistant Treasurer
Thomas Bredbury, F. A. Buttrick, F. N. Chandler, W. S. Donald, F. H. Eaton, Albert
Emerton, J. B. Ewart, W. H. Glover, C. A. Leach, F. D. McAllister, R. F. Pickels, C. A. Stone*, W. A.
Whitney*, H. P. Wilkinson*.
'oard of Directors:
Regular meeting for receipt of moneys the
Saturday of each month.
first
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
tional banks
?ash and cash items
,597,300 00
37,030 00
300 00
64,138 11
1,071 36
Dues
capital
Profits capital
.
Matured share certificates
Forfeited share account
.
Guaranty fund
Surplus
79,321 69
100 00
Due on uncompleted
loans
.....
Dividends on matured share
cates
.
^orfeited during year
....
Matured during year
hares in force
hares now pledged
Jew series issued in February,
00
48
00
00
87
31
00
1,482 50
$1,779,261 16
Membership
Serial Shares
ssued during year
$1,295,477
277,374
115,600
13
49,194
40,019
100
certifi-
$1,779,261 16
Vithdrawn during year
1928
Liabilities
joans on real estate
joans on shares
jOans on matured share certificates
teal estate by foreclosure, etc.
nsurance and taxes paid
)ue from trust companies and na
.
6,
3,916
4,343
361
Members
Members who
Holders
of:
1,968
— are borrowers
Unmatured shares
Matured share certificates
717
24,539
_
.
9,735
May, August, No-
.
.
.
...
.
.
.
567
1,915
93
Profits Distributed
vember.
Unmatured Shares
First term,
l 7/(6%;
second term,
V/fc%\ fourth term,
V^%.
Matured and Paid-up Share
First term,
'roportion of profits retained on voluntary withdrawals,
1M%;
25% on
1M%;
second term,
fourth term,
none.
* Security Committee.
series less
1%%.
l 7/f6
%;
third term,
Certificates
1M%;
third term,
than 5 years old; after 5 years,
102
P.D.
8,
Part
III.
Rates and Averages on Loans
453 real estate loans (average, $3,526 each; average rate, 6.47%): 6%, $101,550; 6hi%, $1,495,750.
165 share loans (average, $224 each; average rate, 6.49%): 6%, $850; 6J^%, $36,180.
2 loans on matured share certificates: 63^%, $300.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$7,264.04
4.08
.
Other
Expenses
Advertising
$87.00
$1,221.60
.69
.05
Total
$10,464.63
5.88
$1,891.99
1.06
LAWRENCE — THE MERRIMACK CO-OPERATIVE BANK
Main
(Other authorized location for receipt of moneys: 14
Incorporated April
John
J.
2,
1892.
Began business April
Street, Andover)
28, 1892
Cornelius A. McCarthy, Treasurer
Hurley, President
J. Batal, J. A. Brogan, F. J. Buckley, J. J. Flynn, L. E. Garneau, R. E. Hardy, F. C.
A. Hurley*, J. J. Hurley, J. A. Levek, C. A. McCarthy, James McDowell, J. P. Mulholland,
J. F. O'Connell, J. J. Petroske*, F. J. Quinn*, A. H. Rogers, M. A. Sullivan, M. J. Sullivan, Simeon Viger,
Fergus Waters.
Board of Directors: A.
Harmon,
J.
Regular meeting for receipt of moneys the
Friday of each month.
first
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.
Unpaid interest
Unpaid fines
Insurance and taxes paid
.
Personal accounts
Certificates of deposit
.
trust companies
$2,007,950 00
87,815 00
2,280 00
Dues capital
Profits capital
600 00
2,500 00
9,725 88
6,724 84
680 01
625 27
550 00
100,000 00
Paid-up share
and na
tional banks
Cash and cash items
85,488 99
15,254 68
$1,481,753
299,635
343,200
130,000
.
Matured share
certificates
certificates
Forfeited share account
Matured share account
1,122
.
2,063
41,123
13,524
105
.
Guaranty fund
Surplus
Due on uncompleted
Personal accounts
loans
1,837
.
Overs and shorts
Dividends on matured share
20
.
4,194 98
cates
Dividends on paid-up share
certifi
1,614 16
cates
$2,320,194 67
Membership
Serial Shares
Issued during year
5,441
4,287
.
Forfeited during year
95
....
Matured during year
series issued in
Members
Members who
February, May,
30,345
13,270
August, No-
2,585
are borrowers
764
Unmatured shares
Matured share certificates
2,457
Holders of: —
1,603
Shares in force
Shares now pledged
New
00
62
00
00
22
00
89
37
00
44
99
certifi
$2,320,194 67
Withdrawn during year
1928
Liabilities
Loans
Loans
Loans
Loans
Due from
5,
Paid-up share
vember.
268
114
certificates
Profits Distributed
Unmatured Shares
First term,
1%%;
1%%;
second term,
fourth term,
1V8 %.
1%%\
Matured and Paid-up Share
First term,
1%%;
Proportion of profits retained on voluntary withdrawals,
none.
20%
on
1M%;
second term,
fourth term,
series less
third term,
Certificates
1M%;
third term,
1M%-
than 4 years old; after 4 years,
Rates and Averages on Loans
545 real estate loans (average, $3,684 each; average rate, 6%): 5%, $5,000; 5j^%, $5,000; 6%, $1,997,950.
414 share loans (average, $212 each; average rate, 6%): 6%, $87,815.
5 loans on matured share certificates: 6%, $2,280.
3 loans on paid-up share certificates: 6%, $600.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$5,495.00
2.37
$1,800.00
.77
* Security Committee.
Advertising
$887.50
.38
Other
Expenses
$1,962.35
.85
Total
$10,144.85
4.37
P.D.
S,
103
Part III.
THE LEOMINSTER CO-OPERATIVE BANK
LEOMINSTER
Incorporated
May
8,
1888.
May
Began business
18,
1888
Alfred N. Litch, President
Ward
J.
Healey, Treasurer
Ethel H. Divall, Assistant Treasurer
Board of Directors: R. B. Andrews*, L.
Holman, T. C. Howe, A. N. Litch,
W. Browning, H. R. Davis, F. S. Farnsworth, J. W. Healey, W.
M. McPhee, C. W. Rehor, F. H. Robertson*, F. A. Whitney*.
E.
J.
Regular meeting for receipt of moneys the third Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
19,
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
Real estate by foreclosure, etc.
Due from trust companies and na
tional banks
Cash and cash items
Loans
Loans
Loans
Loans
Bonds
$2,067,670
22,140
7,350
550
50,000
12,525
Dues
00
00
00
00
00
83
capital
Profits capital
.
Matured share
Paid-up share
.
certificates
certificates
Forfeited share account
.
Guaranty fund
.
Surplus
.
Due on uncompleted
29.200 67
5,705 56
.
.
.
.
.
Personal accounts
loans
.
.
Dividends on matured share
cates
.
Dividends
on.
cates
.
.
.
certifi.
.
....
....
....
....
.....
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
.
.
Membership
....
Members
Members who
3,626
3,109
186
Holders
February, May,
of:
— are borrowers
592
21,964
11,601
August, No-
2,213
670
.
Unmatured shares
Matured share certificates
1,765
452
168
.
Paid-up share certificates
.
.
2,574 17
.
$2,195,142 06
Serial Shares
Withdrawn during year
00
87
00
00
70
67
90
00
25
7,207 50
.
.
paid-up share
.
$1,065,764
218,871
576,600
212,200
1,349
55,142
51,129
4,200
102
certifi-
$2,195,142 06
Issued during year
1928
vember.
Profits Distributed
Unmatured Shares
First term,
1^%;
\%%\
second term,
fourth term,
A%;
\ %
1%%.
Matured and Paid-up Share
Certificates
U<£%; second term, 1}4%]
fourth term, 1}4%.
First term,
1H%]
Proportion of profits retained on voluntary withdrawals,
none.
10% on
series less
third term,
third term,
than 6 years old; after 6 years,
Rates and Averages on Loans
average rate, 6%): 6%, $2,067,670.
81 share loans (average, $273 each; average rate, 6%): 6%, $22,140.
10 loans on matured share certificates 6%, $7,350.
1 loan on paid-up share certificates
6%, $550.
597
real estate loans (average, $3,463 each;
:
:
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
LEOMINSTER
Rent
$6,070.00
2.77
$356.00
$306.27
.16
.14
— MUTUAL
Incorporated November
Andrew E. Harper,
Salaries
19, 1919.
Advertising
Other
Expenses
$3,364.56
1.53
Total
$10,096.83
4.60
CO-OPERATIVE BANK
Began business December
17,
Raymond
President
1919
L.
Middlemas, Treasurer
Frances E. MacLaren, Assistant Treasurer
Board of Directors : F. W. Barr, Arthur Beland*, L. H. Bourbeau, F. W. Boynton* H. H. Chase, C. T. Foster*,
J. H. Goguen, A. E. Harper, W. N. Howe, L. A. Jalbert, S. G. Johnson, P. H. Killelea* R. C. Lubin,
Peter McKenna, R. L. Middlemas, P. J. Moore, F. J. Morin, D. F. Ouimet, Michele Padavono*, A. T.
Rhodes, J. C. Richardson, R. A. Robillard, Augustus Rosse, J. D. Shea.
Regular meeting for receipt of moneys the third Friday of each month.
* Security
Committee.
104
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.....
certificates
.
Temporary expense account
Due from
....
banks
Cash and cash items
tional
....
....
....
Dues capital
Profits capital
$323,400 00
19,743 00
360 00
7 71
550 00
505 55
Paid-up share
00
76
00
88
1,600 00
860 66
.
Guaranty fund
Surplus
Interest
Withdrawal
5,425 03
161 69
profits
Bills payable for money
Due on uncompleted
Other
1,702 17
54 51
3,000 00
borrowed
400 00
26 00
loans
liabilities
$350,152 98
Serial
....
Members
Members who
Holders
57
Shares in force
Shares now pledged
series issued in
Membership
1,691
1,091
.
Forfeited during year
New
$350,152 98
S hares
Issued during year
Withdrawn during year
III.
1928
$261,390
46,453
34,600
65
certificates
Forfeited share account
and na-
trust companies
Part
Liabilities
....
Loans on real estate
Loans on shares
Loan on paid-up share
Unpaid fines
Furniture and fixtures
8,
19,
of:
— are borrowers
Unmatured
5,790
2,260
568
192
.
546
33
shares
Paid-up share
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares and Paid-up Share Certificates
First term, 1J4%; second term, \\i%\ third term,
1X%;
Proportion of profits retained on voluntary withdrawals,
none.
10% on
fourth term,
series less
l%%.
than 6 years old; after 6 years,
Rates and Averages on Loans
129 real estate loans (average, $2,507; each; average rate, 6%): 6%, $323,400.
68 share loans (average, $313 each; average rate, 6%): 6%, $19,743.
2 loans on paid-up share certificates: 6%, $360.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
Advertising
$1,535.55
$931.90
2.66
$146.45
4.39
Other
Expenses
$334.36
.42
Total
2.948.26
8.42
.95
LEXINGTON — LEXINGTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: American Trust Company, Boston;
Bedford; R. D. Donaldson, Lincoln)
Incorporated June 29, 1916.
Began business July
12,
J.
M. Chase,
1916
William E. Mulliken, Treasurer
Hallie C. Blake, President
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, D. B. Lewis, H. A. Martin, G. C. McKay,
W. E. Mulliken*, H. B. Needham, C. S. Ryan, J. W. Smith, C. H. Spaulding* Matthew Stevenson,
E. C. Stone, J. A. Wilson.
Board of Directors:
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
Due from
trust companies
tional banks
Cash and cash items
1928
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
Temporary expense account
Insurance and taxes paid
10,
.
,316,250 00
30,150 00
3,350 00
Dues capital
Profits capital
700 00
316 18
317 28
Paid-up share
and na
46,544 44
474 97
.
Matured share
certificates
certificates
Forfeited share account
Guaranty fund
14,021
Surplus
22,476
6,645
125
Interest
Fines
Withdrawal
213
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Personal accounts
Bills
.
20,000
73,879
90
291
00
44
00
00
94
44
63
38
S3
22
00
24
00
75
$1,398,102 87
$1,398,102 87
* Security
$732,853
146,689
254,600
125,600
616
Committee.
P.D.
8,
Part
105
III.
Membership
Serial Shares
Members
Members who
7,852
2,871
Issued during year
Withdrawn during year
.
1,602
18,518
7,750
series issued in January, April, July, October.
Matured during year
Shares in force
Shares now pledged
New
380
Unmatured shares
Matured share certificates
1,297
Holders
40
Forfeited during year
1,416
are borrowers
of:
—
95
110
Paid-up share certificates
Profits Distributed
Unmatured Shares
1%%;
First term,
IH%;
second term, 13^%; third term,
fourth term,
\V2 %.
Matured Share
1%%;
First term,
1%%;
fourth term,
1M%;
25%
819
fourth term,
on
1%%;
third term,
\%%.
Paid-up Share Certificates
second term, 1M%; third term,
\M%\
First term,
Proportion of profits retained on voluntary withdrawals,
none.
Certificates
second term,
1X%.
than 6 years old; after 6 years,
series less
Rates and Averages on Loans
average rate, 6.5%): 5J^%, $4,600; 6%, $26,500; 63^%, $1,250,650;
real estate loans (average, $4,126 each;
7%,
$34,500.
57 share loans (average, $529 each; average rate, 6.5%):
3 loans on matured share certificates : 6J^%, $3,350.
1 loan on paid-up share certificates: 6J^%, $700.
<o
A%,
x
$30,150.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
LOWELL — B.
F.
Other
Expenses
Total
Salaries
Rent
Advertising
$2,749.35
1.97
$645.17
$254.75
;i,775.00
5,424.27
.46
.18
1.27
3.88
BUTLER CO-OPERATIVE BANK
Incorporated October 30, 1901.
Began business November
1,
1901
Gardner W. Pearson, Treasurer
H. Stanley Crysler, President
Board of birectors: L. D. Abbott*, H. S. Crysler*, W. B. French, W. R. Jeyes, R. E. Jodoin, F. G. McKittrick, Alice F. D. Pearson, F. H. Pearson, G. W. Pearson*, M. G. Rogers, H. A. Smith.
Regular meeting for receipt of moneys the
first
Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
.
.
5,
1928
Liabilities
.
Real estate by foreclosure, etc.
Overs and shorts
Due from trust companies and
tional banks
.
.
$178,350
4,600
21,196
23
00
00
05
26
7,406 01
130 33
Cash and cash items
Matured share
Paid-up share
$93,841
18,004
72,200
21,200
64
3,980
2,315
93
7
certificates
certificates
Forfeited share account
na-
.
....
Dues capital
Profits capital
.
Guaranty fund
Surplus
Security committee
Personal accounts
.
Membership
Serial Shares
Issued during year
317
234
158
85
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
February,
12
48
00
33
$211,705 65
$211,705 65
Withdrawn during year
00
72
00
00
00
M ay,
....
Members
Members who
Holders
1,963
1,105
of:
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
241
87
.
185
61
.
22
certificates
August, No-
vember.
Profits Distri bute d
Unmatured Shares and Matured Share Certificates
First term, \Y%%; second term, \%%; third term,
1^%;
fourth term,
1%%.
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
25% on
fourth term,
series less
* Security Committee.
Certificates
lJi%; second term, 1J4%;
third term,
1M%-
than 4 years old;
10%
thereafter.
106
P.D.
Rates and Averages on Loans
74 real estate loans (average, $2,410 each; average rate, 6.05%): 6%, $166,250;
IS share loans (average, $354 each; average rate, 6%): 6%, $4,600.
6^%,
8,
$10,100;
Part
7%,
III.
$2,000.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
$324.73
1.53
.
Other
Expenses
Rent
Advertising
$180.00
$99.22
1.14
.85
.47
1.41
Salaries
Total
$903.09
4.26
LOWELL — LOWELL CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Saco-Lowell Shops, 350 Dutton Street, Lowell;
Post Offices at North Billerica, Bill erica Center; North Chelmsford, Chelmsford Center
and Tewksbury Center, Store of J. A. Leclerc, Forge Village)
May
Began business
Incorporated April 29, 1885.
14,
1885
Charles C. Drew, Treasurer
Francis E. Appleton, President
Norman U. Armour,
Assistant Treasurer
Board of Directors: F. E. Appleton, Arthur Bartlett*, H. L. Bishop, F. E. Bramhall, Adam Cochrane, W. H.
Dorr, C. C. Drew, O. H. P. Green, E. C. Hart, F. B. Kenney, John Kerr*, S. E. Qua, R. E. Runels, W. F.
Sanborn, A. A. Stewart*.
Regular meeting for receipt of moneys the
first
Friday after the tenth 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
,493,750
105,015
10,340
2,020
100,848
79,694
28,331
2,772
3,626
Real estate by foreclosure, etc.
Banking house
Unpaid interest
Unpaid fines
Insurance and taxes paid
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
....
.
12, 1928
Liabilities
.
Dues capital
Profits capital
00
00
00
00
86
99
Guaranty fund
16
Surplus
22
63
Due on uncompleted loans
Due on foreclosure sales
Matured share
certificates
certificates
Paid-up share
Forfeited share account
.
....
32,514 70
57,136 98
18,185 34
Dividends on paid-up share
certifi
7,150 00
$5,916,102 59
$5,916,102 59
Membership
Serial Shares
Issued during year
....
....
....
....
.....
....
Forfeited during year
514
1,749
New
series issued in
February, May,
....
Members
Members who
11,946
7,222
Matured during year
Shares in force
Shares now pledged
31
certifi
cates
cates
Withdrawn during year
00
74
00
00
56
96
00
384 48
281 20
Rents
Dividends on matured share
52 05
.
$2,999,969
609,862
1,476,600
572,000
1,573
116,894
63,291
49,910
.
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
60,185
31,737
August, No-
Paid-up share
vember.
6,184
2,015
.
5,340
1,270
.
504
certificates
Profits Distributed
Unmatured Shares
A%;
1 S
1%%;
second term, l,3/8%; third term,
fourth term, 1J4%.
First term,
Matured and Paid-up Share
First term, \}/i%: second term,
1H%;
Proportion of profits retained on voluntary withdrawals,
25%
on
fourth term,
series less
l
Certificates
134%;
third term,
A%.
l
than 4 years old;
10%
thereafter.
Rates and Averages on Loans
1,707 real estate loans (average,
,218 each; average rate, 5.96%): 5%, $190,700;
$5,267,200; 63^%, $5,300.
275 share loans (average, $382 each; average rate, 6%) 6%, $105,015.
23 loans on matured share certificates : 6%, $10,340.
10 loans on paid-up share certificates : 6%, $2,020.
5K%,
$30,550;
6%,
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$15,682.02
2.65
* Security
r,315.23
1.23
Committee.
Advertising
Other
Expenses
$2,692.68
.46
$6,025.26
1.02
Total
11,715.19
5.36
.
P.D.
107
Part III.
8,
LOWELL — MIDDLESEX CO-OPERATIVE BANK
Incorporated
Elbert
J.
November
Began business November
2, 1892.
3,
1892
William M. Sherwell, Treasurer
Gilmore, President
Board of Directors: C. W. Churchill, H. W. Coburn, C. W. Dana* Arthur Genest, E. J. Gilmore* H. G. Hill,
A. G. Jenkins, N. D. Keables* F. S. Kingsbury, S. G. Pillsbury, W. M. Sherwell, J. C. Sullivan.
Regular meeting for receipt of moneys the last Friday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Liabilities
....
....
Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Unpaid interest
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
.
26, 1928
$2,180,750
38,780
37,999
10,995
7,070
capital
Profits capital
Matured share
Paid-up share
18
53
246 66
certificates
certificates
....
.....
Forfeited share account
.
.
cates
.
.
.
.
Membership
New
series issued in
February,
....
Members
Members who
4,502
2,449
161
.
....
.
2,645 00
.
$2,303,886 70
Serial Shares
.
5,297 50
.
certifi-
$2,303,886 70
.
48,996
30,077
9,400
00
08
00
00
00
36
76
00
certifi-
.
Dividends on paid-up share
.
2
.
Due on uncompleted loans
Dividends on matured share
cates
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
$1,278,394
293,674
423,800
211,600
Giiaranty fund
Surplus
22,587 79
5,457 12
.
.....
....
Dues
00
00
42
.
Holders
,
23,369
12,197
August, No-
Paid-up share
vember.
2,405
797
.
Unmatured shares
Matured share certificates
808
May
of:
— are borrowers
2,021
395
186
.
certificates
Profits Distributed
Unmatured Shares
/%%; second term, l zA%\ third term,
1V8 %; fourth term, \\i%.
First term,
l 3
Matured and Paid-up Share
V/i%\ second term,
134%; fourth term, 1J4%.
First term,
Proportion of profits retained on voluntary withdrawals,
687 real
estate loans (average,
6H%,
25%
on
series less
Certificates
\
A%\
X
than 4 years old;
third term,
10%
thereafter.
Rates and Averages on Loans
5%, $67,250; 5J^%, $14,900; 6%, $2,097,800;
$3,174 each; average rate, 5.97%):
$800.
110 share loans (average, $353 each; average rate, 6%): 6%, $38,780.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
57,065.67
.
3.07
Other
Expenses
Advertising
$2,258.11
.98
$375.90
>2,427.73
.16
1.05
Total
$12,127.41
5.26
LYNN — EQUITABLE CO-OPERATIVE BANK
Incorporated October
Frederick
W. Hixon,
2,
1877.
Began business October
8,
1877
Edwin C. Lewis,
President
Treasurer
Jessie T. Seeton, Assistant Treasurer
J. E. Blanchard, 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 of Directors:
Regular meeting for receipt of moneys the
* Security
first
Wednesday
Committee.
of each
month.
.
P.D
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
108
Assets
Loans
Loans
Loans
Loans
Bonds
.
$10,874,650
325,370
23,330
9,090
300,000
5,198
24,952
.
Real estate by foreclosure,
etc.
Unpaid
interest
Furniture and fixtures
trust companies
00
00
00
00
00
32
Dues capital
Profits capital
14
Guaranty fund
Matured share
certificates
share certificates
Paid-up
Forfeited share account
Matured share account
.
948
.
253,056
132,531
57,788
Surplus
Interest
Fines
Transfer fees
1,220
4
5,145
.
and na
tional banks
Cash and cash items
Due on uncompleted loans
Other liabilities
Due on foreclosure sales
226,356 81
96,775 25
437
4,836
.
Issued during year
Members
Members who
27,459
20,851
.
Forfeited during year
278
Matured during year
4,573
146,047
66,678
....
Shares in force
Shares now pledged
series issued in April,
01
00
00
77
14
93
97
24
99
25
00
50
51
Membership
Serial Shares
New
00
$11,888,620 31
$11,888,620 31
Withdrawn during year
III.
$7,369,808
1,621,190
1,374,800
1,061,600
5,252
.
478 60
2,366 34
52 85
Temporary expense account
Insurance and taxes paid
Due from
Part
1928
Liabilities
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
.
8,
3,
Holders
of:
11,228
4,052
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
10,388
1,059
775
certificates
October
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
3%.
Matured and Paid-up Share
A%;
First term, 2 X
Certificates
X
second term, 2 A%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
8,726 real estate loans (average, $2,919 each; average rate, 6%): 53^%, $7,900; 6%, $10,866,350; 7%, $400.
1,488 share loans (average, $219 each; average rate, 6%): 5%, $350; 5>^%, $240; 6%, $323,130; 7%, $1,650.
66 loans on matured share certificates: 6%, $23,330.
27 loans on paid-up share certificates : 6%, $9,090.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
£20,456.29
$2,595.08
.22
1.72
Other
Expenses
Advertising
$685.97
Total
$7,554.32
.63
.06
51,291.66
2.63
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.
7,
1909.
Began business April
26, 1909
Edward M. Barney,
Holder, President
Treasurer
of Directors: E. H. Ballard, E. M. Barney*, Lydia L. Barney, James Bennett, W. A. Bishop, E. E.
Boyer*, E. P. Butterfield*, T. J. Dumas, Harold Forsyth, G. B. Grant, J. M. Holder*. E. J. Kenneally,
C. E. Lundgren, W. M. Nye, H. R. Stanbon, G. T. Till* Harry Turner*.
Board
Regular meeting for receipt of moneys the
last
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
...
.
29, 1928
Liabilities
.
.
$1,367,985 00
.
.
355 40
Dues capital
Profits capital
.
Matured share
.
.
58,917 44
.
.
540 48
Paid-up
certificates
share certificates
Guaranty fund
Surplus
Interest
Fines
.
Withdrawal profits
Due on uncompleted loans
Security committee
Reserve for furniture and fixtures
7,642
204
49
7,491
4
500
00
80
00
00
25
80
06
64
30
47
00
00
$1,427,798 32
$1,427,798 32
* Security
$461,440
69,581
714,200
134,200
14,620
17,864
Committee.
P.D.
8,
109
Part III.
Membership
Serial Shares
.
Shares in force
Shares now pledged
New
series issued in
Members
Members who
4,488
2,055
1,252
12,500
6,843
Issued during year
Withdrawn during year
Matured during year
1,289
are borrowers
345
Unmatured shares
Matured share certificates
760
479
105
Holders
—
of:
Paid-up share
January, April, July, October
certificates
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
1M%;
1M%;
1J4%; second term,
First term,
third term,
1H%-
fourth term,
Proportion of profits retained on voluntary withdrawals, January and July dividends if shares are withdrawn
after these dividends are declared and before the April and October bank days, otherwise none.
Rates and Averages on Loans
345
real estate loans (average,
5,965 each; average rate,
5.99%):
5H%,
6%,
$5,000;
L,
7%,
362,235;
$750.
Total Expenses for Year
Rent
Salaries
Amount
$3,475.00
2.43
paid for
Cost per $1,000 of assets
.
Other
Expenses
Advertising
Total
52,873.64
$1,160.36
51,536.53
9,045.53
2.01
.81
1.08
6.33
LYNN — LYNN CO-OPERATIVE BANK
Incorporated
November
18, 1891.
Began business November
Frank E. Wells, President
23, 1891
Charles B. Bethune, Treasurer
Pauline Crabtre, Assistant Treasurer
Board of Directors: 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.
Regular meeting 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
Furniture and fixtures
Due from trust companies and na
tional banks
Cash and cash items
1928
Liabilities
,618,425 00
72,735
5,400
3,750
9,590
16,495
00
00
00
39
14
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
72,044 20
2,061 90
00
46
00
00
296 45
71,385 63
$1,927,110
377,753
945,000
377,600
.
.
.
56,021 12
13,350 00
.
Due on uncompleted loans
Dividends on matured share
cates
.
.
.
certifi.
Dividends on paid-up share
cates
22,544 97
.
certifi-
9,440 00
.
$3,800,501 63
$3,800,501 63
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in May,
1,
9,233
6,829
20
1,272
39,682
21,235
......
Members
Members who
Holders
of:
— are borrowers
....
Unmatured shares
Matured share certificates
Paid-up share
.
.
certificates
November
Profits Distributed
Unmatured Shares
First term,
2%%;
second term,
2%%.
Matured and Paid-up Share
First term,
2}4%; second term,
Proportion of profits retained on voluntary withdrawals, none.
* Security
Committee.
Certificates
A%.
2l
2,942
1,259
2,529
629
285
P.D.
110
Rates and Averages on Loans
$3,323 each; average rate, 5.90%): 53^%,
1,089 real estate loans (average,
$4,700.
170 share loans (average, $428 each; average rate, 5.90%):
15 loans on matured share certificates : 6%, $5,400.
5 loans on paid-up share certificates: 6%, $3,750.
hY2 %,
6%,
,850;
6%,
$75;
8,
Part III.
$3,564,875;
7%,
$72,660.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$12,547.00
3.30
.
Other
Expenses
Advertising
$73.40
$3,043. 18
.80
$5,415.16
1.42
.02
Total
$21,078.74
5.54
MALDEN — FELLSWAY CO-OPERATIVE BANK
Incorporated April
Francis
J.
7,
1915.
Began business June
7,
1915
Daniel F. McBride, Treasurer
Welsh, President
Board of Directors: L. E. Blake, N. E. Boyle, H. A. Buckley*, E. E. Burns, P. F. J. Carney, W. E. Cunningham, W. J. Driscoll, I. L. Fine, E. W. FitzGerald, W. W. Hall, Jr., A. J. Harty, H.W. Hibbett, A. S.
Kenney, D. F. McBride, G. A. McCormack, Albert Osterland, J. A. Pagum, D. P. Rossiter, Annie G.
Ryan, F. J. Welsh*, S. F. Welsh*.
Regular meeting 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
Furniture and fixtures
Temporary expense account
Due from trust companies and national banks
Cash and cash items
1,
1928
Liabilities
$596,350 00
6,500 00
350 00
665 53
Dues
$329,992
65,617
159,600
34,200
219
8,843
13,844
capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
14,484 99
469 02
Guaranty fund
Surplus
00
04
00
00
65
34
47
6,381 15
Interest
82 43
1 00
33 46
5 00
Fines
Transfer fees
.
Withdrawal profits
Security committee
$618,819 54
$618,819 54
Membership
Serial Shares
Issued during year
1,504
Withdrawn during year
985
Forfeited during year
20
Matured during year
226
Shares in force
6,615
Shares now pledged
3,083
New series issued in March, June, September, December.
.
....
Members
Members who
693
are borrowers
174
Unmatured shares
Matured share certificates
568
118
27
Holders
of:
—
Paid-up share
certificates
Profits Distributed
Unmatured Shares and Matured Share Certificates
1%,%; second term, l 3A%\ third term,
First term,
1^%;
fourth term,
1^%.
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
20% on
Certificates
\x
/i%\ second term, 1}4%',
fourth term,
series less
third term,
1M%-
than 5 years old; after 5 years,
Rates and Averages on Loans
145 real estate loans (average, $4,113 each; average rate, 6.47%): 6%, $38,400; 6^%, $557,950.
17 share loans (average, $382 each; average rate, 6.44%): 6%, $1,250; 63^%, $5,250.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
,743.32
2.82
Rent
$1,227.85
1.98
* Security Committee.
Advertising
$67.26
.11
Other
Expenses
$891.63
1.44
Total
$3,930.06
6.35
P.D.
8,
Part
Ill
III.
MALDEN
— MALDEN
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Second National Bank, Boston, Corbett and
Wise, 89 State Street, Boston)
May
Began business
Incorporated April 27, 1887.
9,
1887
Lawrence H. Marston, Treasurer
Lloyd Makepeace, President
H. C. Bacon, H. H. Barrett, F. A. Bayrd, J. M. Corbett, G. D. Crawford*, E. G. Davis,
Board
Alexander Grant, C. L. Hamilton, Lloyd Makepeace, L. H. Marston, William Niedner, L. W. Pillsbury,
C. E. Ransom, E. S. Stackpqle* E. B. Stiles*.
of Directors:
Regular meeting for receipt of moneys the second
Monday
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
Furniture and fixtures
Due from trust companies and na
tional banks
Cash and cash items
8,
....
$5,721,275 00
78,805 00
20,750 00
Dues capital
Profits capital
1,800 00
6,000 00
Paid-up share
Matured share
00
42
00
00
1,217 79
2,304 16
89,056 17
102,488 56
95,000 00
49,725 00
2,000 00
$2,512,392
464,735
2,337,400
338,400
certificates
certificates
Forfeited share account
Matured share account
.
....
....
....
.
Guaranty fund
200,968 38
1,000 00
Surplus
Bills payable for
money borrowed
Due on uncompleted loans
Other liabilities
Dividends on matured share
cates
certifi
Dividends on paid-up share
cates
31,678 33
certifi
4,200 95
$6,030,598 38
$6,030,598 38
Membership
Serial Shares
Issued during year
Withdrawn during year
294
Matured during year
2,674
61,992
33,272
Shares in force
Shares now pledged
series issued in
....
—
Members
Members who
17,664
11,139
.
Forfeited during year
New
1928
Liabilities
Holders
of:
are borrowers
Unmatured shares
Matured share certificates
Paid-up share
6,048
1,737
.
4,698
1,630
.
240
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share
First term,
1H%;
1%%;
second term,
fourth term,
First term,
20%
on
1%%;
Certificates
third term,
Paid-up Share Certificates
second term, 134%; third term,
1M%;
1H%', fourth term,
Proportion of profits retained on voluntary withdrawals,
none.
l%%.
series less
1M%.
than 5 years old; after 5 years,
Rates and Averages on Loans
1,483 real estate loans (average, $3,858 each; average rate, 6.01%): 5%, $14,000; 5M%. $122,150;
$33,950; 6%, $5,150,725; 6H%, $400,450.
424 share loans (average, $186 each; average rate, 6.11%): 6%, $61,040; 6*^%, $17,765.
52 loans on matured share certificates: 6%, $11,740; 6J/£%, $9,010.
1 loan on paid-up share certificates: 6%, $1,800.
53^%,
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
MANSFIELD
Incorporated
Salaries
Rent
Advertising
$13,003.00
2.15
$3,376 13
.56
$1,392.88
— MANSFIELD
March
1.0,
1883.
.23
Other
Expenses
$4,572.01
.76
Total
22,344.02
3.70
CO-OPERATIVE BANK
Began business March
Daniel C. Richardson, President
21, 1883
Herbert E. King, Treasurer
Board of Directors: L. B. Allen, O. P. Cook*, C N. Crane* T. J. Fox*, J. R. Hodges, H. E. King, Austin
Mason, W. P. McDermott, William Olliff, J. W. Rathburn, D. C. Richardson, K. C. Sherman, A. E.
Shields, H. W. Snyder, R. W. Wheeler.
Regular meeting for receipt of moneys the third Wednesday of each month.
* Security
Committee.
H2
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Part
8,
III.
17, 1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
Unpaid premiums
Unpaid fines
Other assets
Due from trust companies and m
tional banks
Cash and cash items
capital
Profits capital
Matured share
650 00
3,000 00
15,432 09
8,671 40
182 18
515 31
27 79
....
....
.
....
....
Dues
,543,500 00
19,600 00
Paid-up
certificates
share certificates
Guaranty fund
Surplus
Due on uncompleted
loans
.
.
.
.
.
.
Dividends on matured share
cates
certifi-
7,396 64
.....
Dividends on paid-up share
52,788 06
2,216 75
00
86
00
00
08
00
6,650 00
$917,235
230,232
301,000
143,000
28,607
8,887
cates
certifi-
3,575 00
$1,646,583 58
$1,646,583 58
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in May, November.
......
Members
Members who
2,870
1,560
148
.
....
Holders
728
16,441
8,467
of:
— are borrowers
1,487
690
....
.
.
Unmatured shares
Matured share certificates
.
.
.
Paid-up share
.
.
.
certificates
1,365
220
157
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
3%.
term,
Matured Share
Certificates
second term,
2%%.
Paid-up Share Certificates
First term, 23^%; second term, 2%%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 4 years old;
from 4 to 7 years old; after 7 years, none.
10% on
series
Rates and Averages on Loans
623 real estate loans (average, $2,477 each; average rate, 6.12%): 6 12 /ioo%, $1,543,500.
67 share loans (average, $293 each; average rate, 6.48%): 6 48/io;%, $19,600.
2 loans on matured share certificates: 6%, $650.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
MARBLEHEAD
— THE
Incorporated
Salaries
Rent
Advertising
$5,002.50
3.04
$324.00
$95.00
.20
.06
Other
Expenses
$805.70
Total
3,227.20
3.79
.49
MARBLEHEAD CO-OPERATIVE BANK
May
5,
1886.
May
Began business
6,
1886
Henry C.
John A. Martin, President
Millett, Treasurer
Board of Directors: E. D. Chapman, H. A. Coffin, G. N. Dennis, W. L. Graves, R. B. Hamson, W. T. Harris,
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 meeting for receipt of moneys the
Thursday
first
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
....
.....
....
Loans on real estate
Loans on shares
Bonds and notes
Unpaid interest
Unpaid fines
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
4,
1928
Liabilities
$628,450 00
15,850 00
13,003 36
893 40
110 02
190 78
Dues capital
Profits capital
.
Matured share
Paid-up
....
.
Guaranty fund
.
28 00
.
loans
Dividends on matured share
.
.
.
.
.
.
.
.
.
cates
Overs and shorts
$473,268 00
107,822 40
54,400 00
13,200 00
9,114 11
10,436 27
3,254 90
certifi-
1,360 00
cates
Dividends on paid-up share
certifi-
....
330 00
33 00
$673,218 68
$673,218 68
* Security
.
Surplus
Due on uncompleted
14,693 12
.
certificates
share certificates
Committee.
P.D.
8,
113
Part III.
Membership
Serial Shares
Issued during year
Withdrawn during year
1,558
Forfeited during year
12
145
8,744
3,679
Matured during year
Shares in force
Shares now pledged
New
series issued in
Members
Members who
963
Holders
— are borrowers
of:
.
979
305
.
967
78
....
Unmatured shares
Matured share certificates
Paid-up share certificates
12
May, November.
Profits Distributed
Unmatured Shares
3%; second
First term,
3%.
term,
Matured and Paid-up Share
Certificates
A%;
X
second term, 2 A%.
Proportion of profits retained on voluntary withdrawals, 25% on series less than 8 years old; 10% on series
from 8 to 10 years old; after 10 years, none.
First term, 2 X
Rates and Averages on Loans
$2,319 each; average rate, 6%): 6%, $628,450.
42 share loans (average, $377 each; average rate, 6%): 6%, $15,850.
271 real
estate loans (average,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$2,493.00
3.70
$120.00
$69.00
.18
.10
Other
Expenses
$378.15
Total
3,060.15
4.54
.56
MARLBOROUGH — THE MARLBOROUGH CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Westborough Drug Company, Westborough)
Incorporated April 16, 1890.
Sumner
May
Began business
1,
1890
Alexander Berry, Treasurer
P. Willard, President
Board of Directors: E. E. Allen, J. F. Bigelow* C. A. Cook*, J. A. Curtis, W. S. Field, F. B. Fletcher*, A. M.
Forbush*, James Golden, L. F. Ingalls, A. C. Lamson, F. W. McKenzie, H. E. Moineau, F. W. Pratt,
J. E. Warren*, S. P. Willard, C. E. Williams, T. F. Williams, S. P. Wood.
Regular meeting 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 o'n matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Due from
trust companies
$2,668,800
41,050
13,280
500
39,103
25,000
3,934
4,982
00
00
00
00
Dues capital
Profits capital
62
Forfeited share account
00
39
62
1,459 25
and na
tional banks
Cash and cash items
11,
100,000 00
24,722 78
$1,372,044
258,834
1,078,600
59,600
11
47,392
19,242
77,325
3,955
.
Matured share
Paid-up share
certificates
certificates
Guaranty fund
Surplus
Fines
Transfer fees
Withdrawal profits
Due on uncompleted loans
$2,922,832 66
Shares in force
Shares now pledged
New
series issued in
71
97
$2,922,832 66
Membership
Serial Shares
Issued during year
00
79
00
00
80
55
74
75
1,703 81
3,850 00
202 41
68 13
Interest
Other liabilities
Due on foreclosure sales
Withdrawn during year
Matured during year
1928
Liabilities
5,093
3,408
1,041
27,091
14,684
May, November
Members
Members who
Holders
of:
2,807
1,046
— are borrowers
Unmatured shares
Matured share certificates
Paid-up
2,366
834
45
share certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%\
term,
Matured Share
3%.
Certificates
second term,
2%%.
Paid-up Share Certificates
X
second term, 2 A%.
on series less than 5 years old; after 5 years,
First term,
2A%\
Proportion of profits retained on voluntary withdrawals, 20%
the last six months' dividend.
* Security
Committee.
114
P.D.
Rates and Averages on Loans
1,192 real estate loans (average, $2,239 each; average rate, 5.98%): 5V2 %, $74,200; 6%,
298 share loans (average, $138 each; average rate, 6%): 6%, $41,050.
24 loans on matured share certificates: 6%, $13,280.
1 loan on paid-up share certificates
6%, $500.
8,
Part III.
$2,594,600.
:
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$3,800.00
1.30
.
MEDFIELD
— THE
Rent
Other
Expenses
Advertising
$2,800.00
$3,184.64
1.09
.96
Total
$9,784.64
3.35
MEDFIELD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 25 South Street, Medfield; E. V. Mitchell Factory,
Medneld; Thome's Grain Store,
Incorporated December 29, 1905.
Millis)
Began business January
Ellery C. Crocker, President
8,
1906
Laprelette
W.
Wheeler, Treasurer
Board of Directors: W. F. Abell* J. L. Atherton, A. L. Clark, L. K. Conant, E. C. Crocker, H. N. Cushman,
F. E. Day, J. A. Fitts* M. E. Griffin, Frank Hamm, G. P. Holbrook, M. B. La Croix, L. E. Mayo, F. M.
Parkhurst, J. W. Payson, E. F. Richardson, H. H. Thorne* L. W. Wheeler.
Regular meeting for receipt of moneys the second
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
....
.
.
.
.
.
.
.
$1,121,175
19,405
3,595
8,135
5,000
1,420
00
00
00
60
00
15
54 67
Dues capital
Profits capital
$509,524
94,320
410,600
85,800
26,800
14,883
.
Matured share
certificates
Paid-up share certificates
Matured share account
Guaranty fund
Surplus
Interest
19,126 58
698 05
343 47
25
11,848 68
95 00
Fines
Transfer fees
.
Due on uncompleted
loans
$1,178,610 05
$1,178,610 05
Membership
Serial Shares
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in January, July.
00
92
00
00
00
10
9,051 38
15,343 25
Security committee
.
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Banking house
Temporary expense account
Other assets
Due from trust companies and national banks
Cash and cash items
.
8,
2,848
1,769
347
11,535
6,361
Members
Members who
1,086
— are borrowers
402
Unmatured shares
Matured share certificates
876
340
73
Holders
of:
Paid-up share
certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
term,
Matured Share
3%.
Certificates
second term,
2% %.
Paid-up Share Certificates
second term, 2Y2 %.
A%\
First term, 2 X
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
$3,288 each; average rate, 6%): 6%, $1,121,175.
53 share loans (average, $366 each; average rate, 6%): 6%, $19,405.
8 loans on matured share certificates: 6%, $3,595.
341 real
estate loans (average,
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
Advertising
$2,749.98
$781.62
$5.32
2.33
.66
.01
* Security Committee.
Other
Expenses
$1,050.60
.89
Total
L587.52
3.89
P.D.
8,
115
Part III.
MEDFORD — HILLSIDE
CO-OPERATIVE BANK OF MEDFORD
(Other authorized locations for receipt of moneys: 39 Boylston Street, Boston; Old Colony Trust
Co., 17 Court Street, Boston)
Began business February
Incorporated January 26, 1906.
1906
6,
Fred W. Sleeper, Treasurer
Samuel L. Conner, President
Donald N.
Sleeper, Assistant Treasurer
W. H. Atkins, G. G. Brayley*, C. A. E. Clark, S. L. Conner, G. I. Crowe* J. T. Dennison*,
Enright, J. Fisher, E. R. Fleming, F. B. Gilman, A. C. Green, H. S. Johnson, A. F. Kearin, E. B.
Munro, W. E. Ober, H. C. O'Brien, A. D. Perry, G. C. Rockwood, D. N. Sleeper, F. W. Sleeper, C. A.
Board
of Directors:
C.
W.
Winslow.
Regular meeting for receipt of moneys the
first
Tuesday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
.
.
.
.
.
.
.
$1,035,105
16,785
5,046
2,900
Dues capital
Profits capital
00
00
00
00
$521,895 00
104,522 23
396,000 00
16,405 83
.
Matured share
Guaranty fund
certificates
Surplus
Due on uncompleted
13,154 93
2,222 03
.
9,099 31
21,770 59
75 CO
loans
Security committee
.....
Dividends on matured share
cates
certifi-
5,445 00
$1,075,212 96
$1,075,212 96
Seria
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Furniture and fixtures
Due from trust companies and national banks
Cash and cash items
.
2,
Membership
Shares
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in Fe bruar y.
Holders
368
M W,
of:
are borrowers
Unmatured shares
Matured share certificates
12,762
5,800
A ugust,
....
—
Members
Members who
4,444
2,917
1,121
.
280
.
953
316
No-
vember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
First term, 1%%; second term, \Y%%\ third term,
1^%;
fourth term,
1%%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
228
real'estate loans (average,
$4,540 each; average rate, 6.40%): 5%, $2,000;
6H%,
$850,705.
45 share loans (average, $373 each; average rate, 6.43%):
9 loans on matured share certificates: 63^2%, $5,046.
6%,
$2,075;
6K%,
5H%.
$5,600;
6%, $176,800;
$14,710.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
Advertising
$5,173 44
4 81
$830.00
$304 50
28
.77
Other
Expenses
$748.02
.70
Total
$7,055.96
6.56
MEDFORD — THE MEDFORD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 501 High Street, West Medford; 2 Dexter Street,
South Medford; 257 Spring Street, East Medford; American Trust Company, 50 State
Street, Boston)
Incorporated June 21, 1886.
Began business July
7,
1886
Forrest E. Thompson, Treasurer
Lewis H. Lovering, President
Board of Directors: G. H. Archibald, W. N. Curtis, W. F. Cushing*, F. G. Grady, W. P. Hart*, C. H. Loomis,
F. W. Lovering* L. H. Lovering*, D. G. Melville, J. J. Mulkerin, A. E. Ritchie, L. H. Robbins*, J. W.
Rockwell, E. H. Savage, C. S. Taylor, A. W. Teel, H. P. Van De Bogert.
Regular meeting for receipt of moneys the
* Security
first
Wednesday
Committee.
of each
month.
P.D.
116
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
3,
Part
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Bonds and notes
Real estate by foreclosure, etc.
Banking house
Insurance and taxes paid
Other liabilities
Due from banks and trust companies
Cash and cash items
Dues
,026,950 00
100,060 00
capital
Profits capital
$2,408,315
501,462
1,746,200
395,800
15
110,261
137,714
3
.
Matured share
25,290 00
Paid-up share
1,600 00
40,000 00
11,590 49
18,000 00
498 82
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
Withdrawal
46 96
profits
Suspense
Due on uncompleted loans
Security committee
Personal accounts
Other liabilities
Dividends on matured share
.
144,681 12
4,086 28
24,010 25
Dividends on paid-up share
certifi
4,947 50
cates
$5,372,803 67
$5,372,803 67
Membership
Serial Shares
....
....
....
Shares in force
Shares now pledged
.
New
series issued in
.
.
.
Members
Members who
11,718
7,097
.
.
.
.
.
4.725
.
.
— are borrowers
1,622
Unmatured shares
Matured share certificates
3,723
1,223
Holders
1,841
51,673
27,947
February, May, August, No.
11
certifi-
cates
Issued during year
00
83
00
00
00
03
87
462 60
41,921 83
495 00
601 15
593 50
.
.
.
Withdrawn during year
Matured during year
III.
1928
of:
Paid-up share
274
certificates
vember.
Profits Distributed
Unmatured Shares
1}4%; second term, 1%%;
fourth term, 1J4%.
First term,
1^%;
First term, 1
third term,
Matured Share Certificates
3
A%; second term, 1%%; third term,
1%%.
\Y%%; fourth term,
Paid-up Share Certificates
First term, 1M%; second term, l}i%; third term,
1M%;
Proportion of profits retained
1M%-
fourth term,
on voluntary withdrawals, 15%.
Rates and Averages on Loans
average rate, 6.45%) 5%,$: ,100; 5^%, $68,750; 5%, $385,850;
!, 586 each;
1,^02 real estate loans (average,
6^%, $4,570,250.
593 share loans (average, $169 each; average rate, 6.50%): 5^%, $120; 6%, $50; 6^%, $99,890.
70 loans on matured share certificates: 6%, $1,800; 6J^%, $23,490.
4 loans on paid-up share certificates : 6j^%, $1,600.
:
Total Expenses for Year
Salaries
Amount
$17,204.74
3.20
paid for .
Cost per $1,000 of assets
Rent
Advertising
$828.44
$1,646.20
.15
.31
Other
Expenses
$3,163.16
.59
Total
$22,842.54
4.25
MEDFORD — WEST MEDFORD CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: American Trust Company, Boston; J.Frank
Cahalan, Central Block, Medford Square, Medford)
Incorporated
Albert
W. Hathaway,
May
9,
1924.
Began business June
10,
1924
Arthur
President
W. Byam,
Treasurer
Wendell H. Marden, Assistant Treasurer
Board of Directors: F. W. Abbott, J. B. Adams*, E. R. Brackett, A. W. Byam, J. F. Cahalan, L. M. Child,
W. F. Colby, T. D. Collins*, M. G. P. Cressy, J. J. Curtin, J. R. Gaffey, A. D. Hall*, S. C. L. Haskell,
A. W. Hathaway, F. W. Holmes, W. F. Hosmer, K. G. Lewis, W. H. Marden, W. G. Perry, W. F. Pinkham, W. J. Reilly, Henry Risman, L. O. White, W. F. Wiltshire*.
Regular meeting for receipt of moneys the second Wednesday of each month.
* Security Committee.
P.D.
8,
Part III.
117
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
10,
Liabilities
Loans on real estate
Loans on shares
Furniture and fixtures
Temporary expense account
Due from trust companies and
tional banks
$335,700 00
12,820 00
126 38
266 39
Dues
$281,359
28,301
32,800
337
2,114
4,358
3,818
79
34
5,075
160
25
capital
Profits capital
.
Paid-up share
certificates
Forfeited share account
.
Guaranty fund
9,551 62
Surplus
....
Interest
Fines
Withdrawal profits
Due on uncompleted loans
Security committee
Other liabilities
$358,464 39
....
....
....
....
Issued during year
Shares in force
Shares now pledged
New
series issued in
00
79
00
47
77
73
65
52
46
00
00
00
$358,464 39
Membership
Serial Shares
Withdrawn during year
1928
1,422
1,061
Members
Members who
8,267
2,272
Holders
of:
734
— are borrowers
107
Unmatured shares
March, June, September, De-
Paid-up share
712
31
certificates
cember.
Profits Distributed
Unmatured Shares
First term,
1%%;
\%%\
second term,
fourth term,
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
third term,
Certificates
1J4%; second term,
fourth term,
1%%;
1%%.
1M%;
third term,
1M%}/%
1%.
of
Rates and Averages on Loans
67
real estate loans (average, $5,010 each;
average rate, 6.5%):
51 share loans (average, $251 each; average rate, 6.5%):
6K%,
$335,700.
6J^%, $12,820.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$300.00
$147. 12
.41
$371.50
.83
Other
Expenses
$760.86
2.12
1.03
Total
$1,579.48
4.39
MEDWAY — MEDWAY CO-OPERATIVE BANK
-r
(Other authorized locations for receipt of moneys: Bellingham Woolen Co., North Bellingham;
Herman Shoe
Incorporated September
William
W.
7,
1915.
Co., Millis)
Began business October
5,
1915
Daniel
Ollendorff, President
M. Malloy,
Treasurer
Board of 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, W. W. Ollendorff*, J. H. Reardon, E. F. Richardson,
A. L. Saunders, C. A. Smith,
J. J. Sullivan.
Regular meeting for receipt of moneys the
first
Tuesday
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
Real estate by foreclosure, etc.
Temporary expense account
Due from trust companies and na
tional banks
Cash and cash items
2,
1928
Liabilities
$527,020 00
7,030 00
1,400 00
5,236 30
227 26
1,538 72
144 25
Dues
capital
Profits capital
.
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
.
....
Interest
Fines
Withdrawal profits
Due on uncompleted loans
Security committee
$542,596 53
* Security Committee.
$326,886 00
69,136 35
103,400 00
17,800 00
474 60
7,590 86
12,508 04
2,637 04
82 59
63 05
2,000 00
18 00
$542,596 53
.
118
P.D.
Issued during year
Withdrawn during year
Matured during year
Members
Members who
1,364
1,022
....
.
202
Shares in force
Shares now pledged
New
8,
Part III.
Membership
Serial Shares
are borrowers
673
222
Unmatured shares
Matured share certificates
632
82
Holders
6,649
3,084
series issued in April, October.
of:
—
Paid-up share
18
certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
First term,
2%%;
Matured Share
Proportion of profits retained on voluntary withdrawals,
none.
20%
on
3%.
term,
Certificates
second term,
2%%.
Paid-up Share Certificates
second term, 2?^%.
series less
than 5 years old; after 5 years,
Rates and Averages on Loans
$2,622 each; average rate, 6.40%): 6%, $12,400; 6J^%, $514,620.
29 share loans (average, $242 each; average rate, 6.50%): 6j|%, $7,030.
1 loan on matured share certificates: 6^2%. $1,400.
201 real
estate loans (average,
Total Expenses for Year
Rent
Advertising
$333.99
$91.30
.61
.17
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,225.00
2.26
.
Other
Expenses
$748.46
1.38
Total
2,398.75
4.42
MELROSE — MELROSE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Factories No. 1 and No. 2, Boston Rubber Shoe
Company, Melrose Highlands Branch of Melrose Trust Company)
Incorporated April
4,
1890.
Began business April
20, 1890
Charles H. Adams, President
James Arthur Fulton, Treasurer
Board of Directors: C. H. Adams, C. L. Allen, A. L. Carr, H. E. Child, Sanford Crandon, J. C. Crolly, W. A.
Dole*, J. H. Duffill, Robert Friend, J. A. Fulton, W. R. Lovett, C. G. Schaedel*. F. A. Stevens, F. R.
Upham*, H. P. Waterhouse, W. E. Waterhouse.
Regular meeting for receipt of moneys the Saturday following the
first
Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
6,
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Temporary expense account
1Due from trust companies and national banks
Cash and cash items
.
....
$2,255,225 00
42,748 00
5,600 00
Dues capital
Profits capital
770 00
559 56
Paid-up share
Matured share
certificates
certificates
Forfeited share account
....
....
.....
.
Guaranty fund
64,618 48
10 19
Surplus
Interest
Fines
Transfer fees
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Personal accounts
Bills
.
$2,369,531 23
* Security Committee.
$1,265,789
257,871
493,600
225,000
00
01
00
00
80 00
37,656 47
17,085 02
5,649 30
279 69
25
160 17
50,000 00
16,240 00
31 00
89 32
$2,369,531 23
P.D.
8,
119
Part III.
Membership
Serial Shares
Members
Members who
Issued during year
6,336
Withdrawn during year
4,078
Forfeited during year
10
471
Matured during year
Shares in force
27,472
Shares now pledged
13,332
New series issued in January, April, July, October.
.
2,584
are borrowers
.
.
.
Unmatured shares
Matured share certificates
.
.
.
Paid-up share certificates
.
.
.
Holders
of:
—
710
....
2,138
420
206
Profits Distributed
Unmatured Shares
V4%%\ third term,
First term, V/(§%; second term,
l 7/le%; fourth term, ll{6 %.
Matured Share
Certificates
First term, l 6/f6 %; second term,
l 5/fe%; fourth term,
w %.
W
Paid-up Share
l 5/f6
%;
Certificates
First term,
1^C%; second term, 1J4%;
1H%1
1H%-
fourth term,
third 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.
third term,
10% on
series
Rates and Averages on Loans
601 real estate loans (average, $3,752 each; average rate, 5.99%): 5^%, $21,900;
115 share loans (average, $372 each; average rate, 6%): 6%, $42,748.
12 loans on matured share
5 loans on paid-up share
certificates :
certificates :
6%,
6%,
6%,
$2,233,325.
$5,600.
$770.
Total Expenses for Year
Rent
Advertising
1,014.35
.43
$263.35
Salaries
Amount
paid for
Cost per $1,000 of assets
$5,418.00
2.29
Other
Expenses
Total
$8,668.65
3.66
$1,972.95
.83
.11
MERRIMAC — THE ECONOMY CO-OPERATIVE BANK
Incorporated July 26, 1889.
Fred
Began business August
12,
Clifton B. Heath, Treasurer
Hardwick, President
S.
Board of Directors: G.
W.
Davis, H.
G.
1889
M. Emery*, F. S. Hardwick, C. B. Heath, Zenas
A. W. Sawyer*, I. A. Williams, T. W. Wright.
Lovell, C.
Regular meeting for receipt of moneys the second
Monday
of each
Assets
$157,575
8,725
659
34
96
436
....
.
Temporary expense account
tional
8,
1928
Liabilities
Loans on real estate
Loans on shares
Unpaid interest
Unpaid premiums
Unpaid fines
trust
Morrell*,
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Due from
W.
S. Preble,
Dues
00
00
40
85
28
Guaranty fund
50
Premiums
companies and na
5,062 53
.
Surplus
Interest
Fines
banks
$134,062 00
30,505 50
4,029 80
1,091 89
2,561 31
135 45
99 90
103 71
capital
Profits capital
.
Withdrawal
profits
$172,589 56
$172,589 56
Membership
Serial Shares
Issued during year
Withdrawn during year
Retired during year
Matured during year
Shares in force
Shares now pledged
New series issued in February, August.
291
279
123
82
Members
Members who
.
Holders
of:
—
273
133
.
.
are borrowers
.
Unmatured shares
2,251
1,304
273
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
3%.
Proportion of profits retained on voluntary withdrawals, 10%.
Rates and Averages on Loans
113 real estate loans (average, $1,394 each; average rate, 6.30%): 63 /io%, $157,575.
43 share loans (average, $203 each; average rate, 6.30%): 6 3 /io%, $8,725.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$1,000.00
5.79
* Security
Rent
$150.00
.87
Committee.
Advertising
:
Other
Expenses
$265.95
1.54
Total
$1,415.95
8.20
120
P.D.
METHUEN — METHUEN CO-OPERATIVE BANK
Incorporated April
4,
Began business April
1923.
13,
Part III.
1923
Raymond
Frank A. Gordon, President
8,
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
Saturday of each month.
last
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Real estate by foreclosure,
Unpaid interest
27, 1928
Liabilities
$137,800
4,135
3,590
100
28
56
etc.
....
Temporary expense account
Other assets
Due from trust companies and
tional banks
00
00
Dues capital
Profits capital
81
00
60
01
Paid-up share certificates
Forfeited share account
$110,651 00
16,292 98
7,000 00
1,164 46
1,510 48
3,853 06
840 73
29 30
46 81
5 572 14
.
Guaranty fund
Surplus
Interest
Fines
1,250 54
Withdrawal profits
Due on uncompleted loans
;
$146,960 96
$146,960 96
Membership
Serial Shares
Issued during year
....
....
.....
....
Shares in force
Shares now pledged
New
series issued in
Members
Members who
348
584
Withdrawn during year
Holders
2,352
of:
Unmatured
855
January, April, July, October.
198
63
— are borrowers
202
shares
Paid-up share
6
certificates
Profits Distributed
Unmatured Shares
First term,
A%;
1 S
1%%;
second term,
fourth term,
\ %
/%%\
Paid-up Share
Certificates
First term,
134%; second term, 1J€%;
1M%;
1M%-
Proportion of profits retained on voluntary withdrawals,
25% on
fourth term,
series less
third term,
1%%.
third term,
than 5 years old; after 5 years,
none.
Rates and Averages on Loans
43 real estate loans (average, $3,205 each; average rate, 6.50%): 6J^%, $137,800.
19 share loans (average, $218 each; average rate, 6.50%): 63>-2%, $4,135.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
MIDDLEBOROUGH
Salaries
Rent
$324.50
2.21
$44.81
Advertising
.30
— THE MIDDLEBOROUGH
Other
Expenses
$234.65
1.60
Total
$603.96
4.11
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: C. N. Atwood, Atwood's Mills, Rock; office
of Edwin L. Ballard, Hyannis; W. I. Fuller, Main Street, Osterville; residence of G. W. Jones,
Falmouth; National Rockland Bank, Boston)
Incorporated
May
1,
1889.
Began business
May
21, 1889
Walter L. Beals, Treasurer
Alvin C. Howes, President
Dunham,
Irene B.
Assistant Treasurer
Board of Directors: C. N. Atwood*, L. O. Atwood, W. L. Beals, S. L. Brett, G. N. Dupont, I. R. Hardy, A. C.
Howes*, J. H. Kennedy, L. B. Mendall, L. T. Perkins, H. W. Sears, Jr., D. D. Sullivan*, J. V. Sullivan,
A. A. Thomas, Lorenzo Wood*.
Regular meeting for receipt of moneys the third Tuesday of each month.
* Security
Committee.
P.D.
8,
Part
121
III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on matured share
.
.
Liabilities
Dues capital
Profits capital
00
00
00
22
39
06
257 07
,365,800
21,790
5,000
5,901
28,241
3,376
.
certificates
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and na
tional
1928
16,
banks
Matured share
certificates
Paid-up share certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
Due on uncompleted loans
Security committee
Suspense
Due on foreclosure sales
Dividends on matured share
.
.
134,571 73
1,942 01
Cash and cash items
$996,336 00
199,566 47
1,094,200 00
191,800 00
213 40
740 60
35,693 46
14,043 10
15,949 79
90 00
759 52
119 87
.
certifi
14,969 77
cates
Dividends on paid-up share
certifi
2,397 50
cates
$2,566,879 48
$2,566,879 48
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February,
....
Holders
of:
are borrowers
21,053
12,445
August, No-
Paid-up share
vember.
2,284
984
.
Unmatured shares
Matured share certificates
712
May,
.....
—
Members
Members who
4,780
2,721
190
.
1,774
783
128
.
certificates
Profits Distributed
Unmatured Shares and Matured Share Certificates
1%%; second term, \Y%%; third term,
First term,
1V8 %;
fourth term,
l%%.
Paid-up Share
First term,
1M%;
Certificates
1J4%; second term,
fourth term,
A%.
\x
/i%;
third term,
\X
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
935 real estate loans (average, $2,530 each; average rate, 6%): 53^%, $2,100; 6%, $2,363,700.
65 share loans (average, $335 each; average rate, 6%): 5%%, $200; 6%, $21,590.
14 loans on matured share certificates : 6%, $5,000.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$7,482.04
2.91
.
— MILFORD
MILFORD
Incorporated
J.
March
31, 1887.
$616.43
Other
Expenses
$2,380.35
.1,638.86
.24
.93
4.53
Advertising
$1,160.04
.45
Total
CO-OPERATIVE BANK
Began business April
1,
1S87
Walter F. Mann, Treasurer
Allen Wallace, President
Minnie
S.
Walker, Assistant Treasurer
Board of Directors: C. F. Austin, H. S. Chadbourne* C. E. Cooney, G. C. Eastman*, F. A. Gould, W. D.
Howard, P. J. Lawless, L. B. Libbey, R. Mainini, W. F. Mann, W. S. Marden, J. A. Wallace, Arthur
Webb*, T. J. Welch*, F. A. Whipple.
Regular meeting 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
Real estate by foreclosure, etc.
Unpaid fines
Furniture and fixtures
.....
.....
.
Temporary expense account
Other assets
Due from trust companies and national banks
....
Cash and cash items
1,
1928
Liabilities
$1,906,350 00
33,280 00
750 00
260 00
3,420 31
599 30
400 00
892 47
322 50
Dues
capital
Profits capital
.
Matured share
certificates
Paid-up share certificates
Guaranty fund
»
Surplus
.
.
Interest
Withdrawal profits
Due on uncompleted loans
Due on foreclosure sales
$1,084,435
220,545
443,200
187,000
48,867
28,718
2,136
00
57
00
00
98
12
81
86 21
5,350 00
3 58
73,422 23
646 46
$2,020,343 27
* Security
$2,020,343 27
Committee.
122
Seria
P.D.
Membership
Shares
Issued during year
3,819
Withdrawn during year
2,338
Matured during year
931
Shares in force
21,233
Shares now pledged
11,022
New series issued in January, \pril, July, October.
8,
Part
Members
Members who
III.
2,330
— are borrowers
884
Unmatured shares
Matured share certificates
2,180
Holders
of:
Paid-up share
388
160
certificates
Profits Distributed
Unmatured Shares
First term, 134%', second term,
1
A%;
S
\%%.
fourth term,
\%%\
Matured and Paid-up Share
First term, \}/i%\ second term,
1H%,
1%%.
fourth term,
Proportion of profits retained on voluntary withdrawals,
50%
third term,
Certificates
1J4%;
third term,
of the last dividend.
Rates and Averages on Loans
5^%,
estate loans (average, $2,450 each; average rate, 5.93%): 5M%, $144,250;
$1,733,250.
21 A share loans (average, $156 each; average rate, 6%): 6%, $33,280.
3 loans on matured share certificates : 6%, $750.
2 loans on paid-up share certificates : 6%, $260.
778 real
$28,850;
6%,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
MILLBURY
Salaries
Rent
3,296.00
$549.43
3.12
.27
— MILLBURY
Incorporated January 30, 1926.
Warren B.
$23.50
Other
Expenses
$1,577.73
3,446.66
.01
.79
4.19
Advertising
Total
CO-OPERATIVE BANK
Began business February
1926
10,
Edward
Harris, President
F. Rice, Treasurer
W. W. Brierly, R. W. Brigham, D. J. Dempsey*, T. A. Dowd, G. K. Fisher, W. F. Germaine, W. B. Harris, C. F. Holman*. F. W. Hooper, C. E. Home, E. F. Hull, E. A. Landry, H. J. Lavallee, C. T. Lund, Alcide Mayotte, J. J. Mulhane, B. O. Paine, H. B. Proctor, E. F. Rice, M. J. Roach,
W. A. Roberts, C. E. Watson, J. H. Welsh, A. D. Windle, A. J. Winter, E. W. Witter*.
Board of Directors:
Regular meeting
for receipt of
moneys the second Wednesday
month.
of each
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on
real estate
Temporary expense account
Due from
trust
10,
1928
Liabilities
$186,300 00
73 00
companies and
Dues capital
Profits capital
Paid-up share
tional banks
Cash and cash items
5,816 13
25 00
$151,261 00
9,871 85
18,000 00
115 00
649 48
1,215 98
2,015 07
50 60
14 15
5,000 00
4,000 00
21 00
.
certificates
Forfeited share account
....
....
.....
.
Guaranty fund
Surplus
Interest
Fines
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Bills
$192,214 13
$192,214 13
Membership
Serial Shares
....
....
....
.....
....
962
Issued during year
Withdrawn during year
545
Forfeited during year
5
Shares in force
6,221
Shares now pledged
963
New series issued in March, June, September, December.
....
Members
Members who
Holders
of:
— are borrowers
Unmatured
530
53
.
519
shares
Paid-up share
11
certificates
Profits Distributed
Unmatured Shares
X
1J^%; second term, \ A%\
13^%; fourth term, li^%.
First term,
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
* Security Committee.
Certificates
1J4%; second term,
fourth term,
50%
third term,
\
x
/i%\
1H%of last dividend.
third term,
P.D.
8,
53 real
Part III.
123
estate loans (average,
Rates and Averages on Loans
$3,515 each; average rate, 6.50%): 63^%, $186,300.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$134.00
$20.00
$25.00
Other
Expenses
$123.94
.70
.10
.13
.65
Advertising
Total
$302.94
1.58
MILTON — MILTON CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 227 Copeland Street, West Quincy)
Incorporated July
John
J.
9, 1919.
Began business September
1919
17,
Gallagher, President
Clifford
H.
Coffin, Treasurer
Board of Directors: A. O. Allen, Josiah Babcock. Jr., P. J. Bannin, G. A. Berry, Johanna Berry, Stephen
Bianchi, E. F. Byrnes, J. J. Casey, C. H. Coffin, Helen F. Crowley, J. H. Duffy, Philip Egan, J. J. Gallagher* A. W. Ham, D. A. Heffernan*, R. C. Kelley, J. F. Kerrigan, E. P. Ledwith, N. A. McDonald,
James McLeod, W. P. Melley, W. S. Miles, J. F. Mitchell, E. J. Morgan*, J. E. O'Connell, Fred Preston,
E. C. Soulis, J. R. Travers, C. B. White.
Regular meeting for receipt of moneys the fourth
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Furniture and fixtures
Temporary expense account
Due from trust companies and
tional banks
Cash and cash items
22, 1928
Liabilities
$421,250
20,640
150
210
Dues capital
Profits capital
00
00
00
84
$325,996
59,128
44,400
4
3,560
.
Paid-up share
certificates
Forfeited share account
Guaranty fund
10,907 86
2,161 74
15
1,662 42
3,727 09
97 14
Surplus
Interest
Fines
Transfer fees
.
25
Withdrawal
profits
Bills payable for money
Due on uncompleted
140 81
15,000 00
borrowed
1,500 00
loans
Security committee
104 00
$455,320 44
$455,320 44
Issued during year
Withdrawn during year
Forfeited during year
Shares in force
Shares now pledged
New
Membership
Serial Shares
'
series issued in
.
00
58
00
00
....
Members
Members who
1,474
1.192
17
7,172
2,691
Holders
of:
— are borrowers
571
144
.
Unmatured shares
Paid-up share
547
33
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term,
1H%;
second term,
fourth term,
First term,
1M%;
1%%;
l%%.
1%%;
third term,
Paid-up Share Certificates
second term, 1}4%'< third term,
1M%;
fourth term,
1%%.
Proportion of profits retained on voluntary withdrawals, on series less than 4 years old, the last quarterly
dividend; on series from 4 to 8 years old, %, and after 8 years,
of last quarterly dividend.
%
Rates and Averages on Loans
96 real estate loans (average, $4,388 each; average rate, 6%): 6%, $421,250.
48 share loans (average, $430 each; average rate, 6%): 6%, $20,640.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$623.00
1.35
$255.63
$57.60
Other
Expenses
$818.62
.56
.13
1.80
* Security
Committee.
Advertising
Total
$1,754.85
3.84
124
P.D.
NATICK — HENRY WILSON CO-OPERATIVE BANK
Began business November
Incorporated October 23, 1SS6.
12,
8,
Part III.
1886
Harvey H. Whitney, Treasurer
George F. Whitney, President
Board of Directors: A. P. Balcom, Peter Cashion, Richard Folev, J. S. M. Glidden*, H. H. Johnson, 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 meeting for receipt of moneys the second Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Common
Liabilities
....
real estate
shares
matured share
paid-up
certificates
share certificates
J,
167,400
18,400
10,200
650
.
form mortgages
23,950
41,601
Real estate by foreclosure, etc.
Due from trust companies and national banks
....
Dues
00
00
00
00
00
83
....
capital
Profits capital
Matured share
Paid-up
.
.
.
certificates
share certificates
.....
....
.....
.....
Guaranty fund
Surplus
Due on uncompleted
loans
Other liabilities
Dividends on matured share
34,218 15
cates
cates
2,907 50
....
Members
Members who
7,660
4,536
1,007
29,180
16,704
....
.
.
Shares in force
Shares now pledged
series issued in
19,637 75
Membership
Issued during year
New
13
00
00
45
68
00
264 47
$3,296,419 98
Serial Shares
.
00
certifi-
$3,296,419 98
.
$1,241,250
274.419
1,428,200
232,600
46,665
26.737
23.738
certifi-
Dividends on paid-up share
Withdrawn during year
Matured during year
12, 1928
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
February, May, August, No-
Paid-up share
3,170
921
.
2,546
803
.
148
certificates
vember.
Profits Distributed
Unmatured Shares
13^%; second term, 1}4%;
iy2 %; fourth term, 1V2 %.
First term,
Matured Share
First term,
iy8 %;
\
A%\
X
third term,
Certificates
second term, 1}4%; third term,'
fourth term,
l%%.
Paid-up Share Certificates
First term, 1H%; second term, 1)4%; third term,
1M%;
fourth term,
1%%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
821 real estate loans (average, $3,858 each; average rate, 6.50%): 6%, $16,900; 6J^%, $3,149,450;
$1 050
80 share loans (average, $230 each; average rate, 6.50%): 6^%, $18,300; 7%, $100.
36 loans on matured share certificates : 6H%, $10,200.
2 loans on paid-up share certificates : 63^%, $650.
7%,
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
NEEDHAM
Salaries
Rent
7,362.75
2.23
$753.31
$192.60
.23
.06
— THE NEEDHAM
Advertising
Other
Expenses
$4,064.89
1.23
Total
$12,373.55
3.75
CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: American Trust Company, 50 State Street,
Boston)
Incorporated April 21, 1892.
Began business
May
Amos H.
W.
1892
William G. Moseley, Treasurer
Walter F. Snow, President
Board of Directors:
9,
Shepherdson, Assistant Treasurer
F. Alden*, J. F. Buckley*, G. W. Holt*, C. M. Locke*, W. C.
W. F. Snow, F. J. Stanwood, S. H. Wragg*.
Mason, E. W. Smith,
Regular meeting for receipt of moneys the second Wednesday of each month.
* Security
Committee.
P.D.
8,
125
Part III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
10,
Liabilities
Loans
Loans
Loans
Loans
on real estate
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Banking house
Insurance and taxes paid
Other assets
Due from trust companies and m
tional banks
Cash and cash items
$6,681,074 00
91,367 00
6,490 00
330 00
13,860 00
20,000 00
2,112 18
....
1
43
Dues capital
Profits capital
53,173,621 00
.
731,414 95
2,153,200 00
312,400 00
Matured share
Paid-up
certificates
share certificates
Forfeited share account
454 50
00
74
00
63
.
Guaranty fund
111,458
86,260
150,000
113,450
Surplus
Bills payable for
money borrowed
Due on uncompleted loans
16,725 21
300 00
$6,832,259 82
$6,832,259 82
Membership
Serial Shares
Issued during year
Withdrawn during year
Matured during year
20,132
10,655
5,055
67,110
39,242
....
.
Shares in force
Shares now pledged
New
series issued in
1928
May, November.
.....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
.
6,326
1,843
.
4,617
1,803
244
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
term,
Matured Share
3%.
Certificates
second term,
2%%.
Paid-up Share Certificates
First term, 2V
2 %; second term, 2V
2 %.
Proportion of profits retained on voluntary withdrawals, on series
after 7 years, none.
less
old, the last dividend;
than 7 years
Rates and Averages on Loans
1,782 real estate loans (average, $3,749 each; average rate, 6.30%): 6 3 /iu%, $6,681,074.
341 share loans (average, $268 each; average rate, 6.30%): 6 3 /w%, $91,367.
25 loans on matured share certificates : 6 3 /io%, $6,490.
1 loan on paid-up share certificates : 6 3 /io%, $330.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
11,135.21
1.63
.
Rent
Other
Expenses
Advertising
$993.87
$508.58
.15
.07
$6,469.75
.95
Total
$19,107.41
2.80
NEW BEDFORD — ACUSHNET CO-OPERATIVE BANK
Incorporated
November
15, 1889.
Began business November
16,
1889
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,
J. O. Thompson, Jr., B. A. Tripp, H. W. Tripp*,
E. E. F. Potter, C. R. Price*, Frederic Taber, F. H. Taber,
E. H. Wefer*, S. F. Winsper.
Regular meeting for receipt of moneys the fourth Saturday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Liabilities
....
Loans on real estate
Loans on shares
.
.
.
$2,488,800 00
53,450 00
3,597 76
.
148,172 83
.
Real estate by foreclosure, etc.
Due from trust companies and national banks
.
.
27, 1928
.
Dues
capital
Profits capital
Matured share
Paid-up
....
....
certificates
share certificates
Forfeited share account
Guaranty fund
Surplus
.
Dividends on matured share
.
.
.
.
.
.
cates
$2,694,020 59
* Security
00
76
00
00
487 31
52,711 57
39,123 92
certifi-
cates
Dividends on paid-up share
$1,439,026
295,785
593,800
261,800
8,013 53
certifi-
3,272 50
$2,694,020 59
Committee.
126
P.D.
Serial Shares
Issued during year
Forfeited during year
Matured during year
Holders
III.
29,134
14,766
February, May, August,
of:
2,579
— are borrowers
Unmatured shares
Matured share certificates
866
Shares in force
Shares now pledged
series issued in
Part
Members
Members who
6,046
5,914
162
Withdrawn during year
New
8,
Membership
Paid-up share
2,162
449
180
certificates
No
vember.
Profits Distributed
Unmatured Shares and Matured Share Certificates
%
First term, l%%; second term, \ /%%\
third term,
1H%;
l%%.
fourth term,
Paid-up Share Certificates
First term, 134%; second term, 1*4%', third term,
1M%;
A%.
\X
fourth term,
Proportion of profits retained on voluntary withdrawals,
50%
months' dividend.
of last 6
Rates and Averages on Loans
745 real estate loans (average, $3,341 each; average rate, 6%): 6%, $2,488,800.
144 share loans (average, $371 each; average rate, 6%): 6%, $53,450.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
57,687. 12
$1,200.00
.45
2.85
Other
Expenses
Advertising
$21.00
Total
$1,801.09
.67
.01
$10,709.21
3.98
NEW BEDFORD — NEW BEDFORD CO-OPERATIVE BANK
Incorporated July
11, 1881.
Began business August
19,
Lot B. Bates, President
1881
William F. Desmond, Treasurer
Board of Directors: L. B. Bates*, S. J. Besse, W. F. Desmond, W. B. Gardner, John Gibson*, E. F. Nicholson,
E. E. F. Potter, C. R. Price*, Frederic Taber, F. H. Taber, J. O. Thompson, Jr., B. A. Tripp, H. W.
Tripp*, E. H. Wefer*, S. F. Whisper.
Regular meeting 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
Real estate by foreclosure,
Banking house
Personal accounts
Due from
tional
,218,125 00
69,850 00
etc.
'
.
trust companies
19,
1928
Liabilities
54,880 08
40,000 00
1,837 39
Dues
capital
Profits capital
.
Matured share
certificates
certificates
Paid-up share
....
Forfeited share account
Guaranty fund
and
banks
152,329 01
$1,821,560
367,989
865,600
341,600
.
Surplus
.
.
.
258
.
73,541
49,181
1,333
.
.
Due on uncompleted
loans
Dividends on matured share
cates
certifi-
...
.
Dividends on paid-up share
cates
certifi-
$3,537,021 48
Issued during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
....
....
....
....
....
February, May,
4,270 00
$3,537,021 48
Membership
Serial Shares
Withdrawn during year
11,687 56
.....
.
00
32
00
00
08
28
90
34
7,188
6,077
347
765
37,139
18,910
August, No-
......
Members
Members who
Holders
of:
— are borrowers
....
.
Unmatured shares
Matured share certificates
Paid-up share
vember
.
.
certificates
3,079
1,121
2,554
625
259
Profits Distributed
Unmatured Shares and Matured Share
First term,
1^%;
1%%;
second term,
fourth term,
1^%.
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
50%
* Security Committee.
1M%;
third term,
1H%-
of last 6
Rates and Averages on Loans
958 real estate loans (average, $3,359 each; average rate, 6%): 6%, $3,218,125.
164 share loans (average, $426 each; average rate, 6%): 6%, $69,850.
third term,
Certificates
1J4%; second term,
fourth term,
Certificates
1%%;
months' dividend.
P.D.
8,
127
Part III.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
11,208.28
$1,800.00
$129.86
3.16
.51
.04
Other
Expenses
Advertising
Total
$14,904.07
4.21
$1,765.93
.50
NEWBURYPORT — NEWBURYPORT CO-OPERATIVE BANK
Incorporated
March
Began business April
15, 1888.
1888
9,
George E. Stickney, Treasurer
Charles E. Hale, President
Webster D. Adams, Assistant Treasurer
Board of Directors: W. D. Adams, G. E. Cooper*, C. E. Hale, N. N. Jones*. L N Kent, H. W. Little, F. E.
Page, L. L. Peavey, C. W. Perry, H. A. Pistorius, W. F. Runnells, G. E. Stickney*, A. M. Weatherby.
Monday
Regular meeting for receipt of moneys the second
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 premiums
Unpaid fines
Liabilities
etc.
....
Temporary expense account
trust companies
Dues capital
Profits capital
00
00
93
08
05
557 90
371 67
$1,656,825
6,600
7,662
6,060
20
.
Due from
1928
8,
00
25
00
00
38
54
24
25 80
224 40
212 89
$1,220,684
255,347
263,600
106
38,620
41,076
9,803
.
Matured share certificates
Forfeited share account
.
Guaranty fund
Surplus
Interest
Premiums
and
tional banks
Cash and cash items
149,268 28
2,334 59
Fines
.
Withdrawal
profits
$1,829,700 50
$1,829,700 50
Membership
Serial Shares
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in April, October.
Members
Members who
3,621
2,408
469
24,333
8,551
2,245
— are borrowers
662
Unmatured shares
Matured share certificates
2,152
185
Holders
of:
Profits Distributed
Unmatured Shares and Matured Share
First term,
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
3%; second
series less
term,
Certificates
3%.
than 7 years old; after 7 years,
Rates and Averages on Loans
654 real estate loans (average, $2,533 each; average rate, 6.95%): 6-/io%, $107,525; 7%, $1,549,300.
28 share loans (average, $236 each; average rate, 7%): 7%, $6,600.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$26.95
$6,207.60
3.39
.
Advertising
37
Other
Expenses
SI, 132. 48
.62
.01
Total
$8,035.91
4.39
NEWTON — THE AUBURNDALE CO-OPERATIVE BANK
295
Auburn
Street,
Auburndale
(Other authorized location for receipt of moneys: Atlantic National Bank, 88
Boston)
Incorporated February
8, 1910.
Began business February
William K. Corey, President
15,
Summer
Street,
1910
Charles E. Valentine, Treasurer
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 meeting for receipt of moneys the
first
* Security Committee.
Tuesday
of each
month.
128
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on matured share certificates
Furniture and fixtures
Temporary expense account
Due from trust companies and na
tional banks
Cash and cash items
8,
Part
2,
1928
III.
Liabilities
00
00
00
00
795 40
,453,875
23,724
2,375
1,000
Dues
capital
Profits capital
Matured share
Guaranty fund
Surplus
34,299 77
4,301 84
certificates
share certificates
Paid-up
....
Due on uncompleted
13
00
00
30
12
13,673 23
Interest
Fines
00
$693,118
122,634
532,400
117,800
28,940
6,065
.
229 34
5,428 89
82 00
loans
Security committee
$1,520,371 01
$1,520,371 01
Serial Shares
Membership
....
....
....
.....
....
Issued during year
4,672
Withdrawn during year
3,374
Matured during year
373
Shares in force
17,315
Shares now pledged
8,305
New series issued in March, June, September, De-
Members
Members who
1,265
.
— are borrowers
330
Unmatured shares
Matured share certificates
998
347
Paid-up share
104
Holders
of:
certificates
cember.
Profits Distributed
Unmatured Shares
First term, V/{s%', second term, ¥/{(,%; third term,
l 7/i6%; fourth term, V/^%.
Matured Share
First term,
1H%;
1%%;
Certificates
second term,
l%%.
fourth term,
Paid-up Share
\%%\
third term,
Certificates
134%; second term, 134%;
134%; fourth term, 134%.
First term,
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
276 real estate loans (average, $5,267 each; average rate, 6%): 6%, $1,453,875.
49 share loans (average, $484 each; average rate, 6.01%): 6%, $23,029; 63^%, $695.
5 loans on matured share certificates: 6%, $1,700; 6}4%> $675.
Total Expenses for Year
Rent
Advertising
651.91
$208.50
.43
.13
Salaries
Amount
paid for
Cost per $1,000 of assets
$3,179.96
2.09
.
Other
Expenses
Total
5,041.63
3.31
51,001.26
.66
NEWTON — THE NEWTON CO-OPERATIVE BANK
299 Walnut Street, Newtonville
(Other authorized locations for receipt of moneys: 73 Tremont Street, Boston; 281 Washington
Street, Newton; Saco Lowell Shops, Newton Upper Falls)
Incorporated June 14, 1888.
Began business September
4,
Frank H. Stuart, President
1888
J.
Cheever
Fuller, Treasurer
Alden V. Keene, Assistant Treasurer
Board of Directors: C. R. Brown, W. M. Cahill, T. C. Donovan, H. W. Fitts, C. A. FitzGerald*, G. S. Fuller,
J. C. Fuller, J. E. Gibson, T. L. Goodwin*, W. T. Halliday, W. T. Hannigan, H. H. Hawkins*, G. A.
Haynes*, A. V. Keene, F. H. Stuart*, R. C. Thompson, G. M. Weed, T. W. White.
Regular meeting for receipt of moneys the
first
Tuesday
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
Real estate by foreclosure, etc.
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Due from
trust companies
tional banks
Cash and cash items
2,
1928
Liabilities
$3,479,300 00
44,910 00
2,150 00
Dues capital
Profits capital
325 00
6,400 00
15,756 08
500 00
3,572 78
596 78
Paid-up share
Fines
41,483 16
3,440 99
Withdrawal profits
Due on uncompleted loans
Security committee
and na
.
Matured share
•
.
.
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Interest
$3,598,434 79
* Security Committee.
$1,896,908
379,338
865,000
356,000
538
43,545
13,497
35,550
00
42
00
00
84
35
04
95
793 53
777 50
6,137 66
347 50
$3,598,434 79
P.D.
8,
Part
129
III.
Membership
Serial Shares
17,402
8,930
1,937
46,068
19,203
Issued during year
Withdrawn during year
Matured during year
....
.
Shares in force
Shares now pledged
New
series issued in
March, June, September, De-
Members
Members who
Holders
of:
3,797
1,038
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
3,203
649
276
certificates
cember.
Profits Distributed
First term,
l
l 7/f6
Unmatured Shares
term, V/^%\ third term,
%; second
/fe%; fourth term,
7
First term,
1M%;
1M%;
Matured Share Certificates
/s%; second term, 134%;
\ 3
fourth term,
First term,
V&%.
third term,
1M%-
Paid-up Share Certificates
second term, 1M%; third term,
1M%;
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, 25% on series less than 5 years old; 10% on
from 5 to 8 years old; after 8 years, none. On series 88 or those issued subsequently, none.
series
Rates and Averages on Loans
$3,923 each; average rate, 6.06%): 5%, $4,800; 5H%, $25,300;
6*/io%, $1,137,200; 7%. $16,700.
138 share loans (average, $325 each; average rate, 6.05%): 6%, $37,160; 6Vio%, $7,750.
8 loans on matured share certificates: 6%, $1,700; 6 3 /io%, $450.
2 loans on paid-up share certificates : 6%, $325.
887 real
estate loans (average,
6%, $2,295,300;
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$15,240.45
4.23
$4,211.10
1.17
Advertising
$750.64
.21
Other
Expenses
Total
$6,605.50
1.84
$26,807.69
7.45
NEWTON — NEWTON SOUTH CO-OPERATIVE BANK
7
Lincoln Street, Newton Highlands
(Other authorized locations for receipt of moneys: A. Leslie Harwood, Jr., 68 Devonshire Street,
Boston; G. W. Thompson, 80 Langley Road, Newton Centre; Thomas L. Aiken, 301 Eliot
Street,
Newton Upper
Falls)
Incorporated July
8,
Began business September
1913.
18,
1913
Charles
Clarencfe S. Luitwieler, President
W.
Mercer, Treasurer
Board of Directors: T. L. Aiken, R. F. Alvord*, D. A. Ambrose, H. W. Bail, G. W. Barker*, E. F. Beck, E. S.
Drowne, C. W. Fewkes, A. S. Kendall*, C. S. Luitwieler, C. W. Mercer, J. E. Parker*, G. W. Pratt,
G. W. Thompson*, J. A. Waters, James Willing.
Regular meeting 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 paid-up share certificates
Real estate by foreclosure, etc.
Temporary expense account
Due from
tional
trust companies
banks
.
18,
1928
Liabilities
$854,920
27,905
180
23,354
603
00
00
00
Dues capital
Profits capital
17
57
Paid-up share certificates
Guaranty fund
Surplus
and na
32,822 59
.
Matured share
certificates
Interest
Fines
.
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Bills
Security committee
$939,785 33
* Security
Committee.
$493,599
99,689
214,600
77,200
00
62
00
00
56
66
72
67
123 10
10,000 00
4,300 00
145 00
15,046
18,141
6,888
51
$939,785 33
130
P.D.
Membership
Serial Shares
Issued during year
2,711
1,644
Withdrawn during year
Matured during year
434
Shares in force
Shares now pledged
New
series issued in
8,
Part III.
Members
Members who
Holders
of:
790
219
— are borrowers
Unmatured shares
Matured share certificates
10,135
4,818
March, September.
Paid-up share
623
167
75
certificates
Profits Distributed
Unmatured Shares
First term,
2%%;
First term,
2%%;
First term,
23^%; second term,
second term,
Matured Share
Certificates
second term,
Paid-up Share
2%%.
2%%.
Certificates
A%.
2X
Proportion of profits retained on voluntary withdrawals, 25% on series less than 6 years old;
from 6 to 8 years old; after 8 years, none.
10% on
series
Rates and Averages on Loans
174 real estate loans (average, $4,913 each; average rate, 6%): 6%, $854,920.
44 share loans (average, $634 each; average rate, 6%): 6%, $27,905.
1 loan on paid-up share certificates: 6%, $180.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$844.74
$1,749.75
1.86
.
Advertising
Other
Expenses
$1,070.71
1.14
.90
Total
5,665.20
3.90
NEWTON — NONANTUM CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 325 Watertown Street, Newton)
Incorporated March 28, 1917.
Began business
May
8,
Frank H. Stuart, President
1917
Alden V. Keene, Treasurer
Warren W.
Oliver, Assistant Treasurer
Board of Directors: C. R. Brown, W. M. Cahill, J. E. Callanan, E. O. Childs, T. C. Donovan, H. W. Fitts,
C. A. FitzGerald*, G. S. Fuller, J. E. Gibson, T. L. Goodwin, H. H. Hawkins*, G. A. Haynes*. J. W.
House, A. D. Howlett, M. P. McKinnon, B. M. Rich, F. H. Stuart* R. C. Thompson, T. W. White.
Regular meeting for receipt of moneys the second Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
9,
Liabilities
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Furniture and fixtures
Due from trust companies and m
tional banks
Cash and cash items
$256,800 00
8,460 00
590 00
1,340 00
5,313 71
1,202 90
Dues
00
98
00
88
3,509 75
$196,774
38,986
26,600
2,810
capital
Profits capital
.
Paid-up share certificates
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on paid-up share
cates
4,692 50
certifi
332 50
.
$273,706 61
$273,706 61
Membership
Serial Shares
....
....
.....
Issued during year
Withdrawn during year
Shares in force
Shares now pledged
New series issued in February,
.
1928
.
.
.
935
789
4,032
1,514
....
—
Members
Members who
Holders
of:
are borrowers
317
82
.
296
29
Unmatured shares
May, August, No-
Paid-up share
certificates
vember.
Profits Distributed
Unmatured Shares
First term,
1%%;
second term,
fourth term,
First term,
Proportion of profits
W%%;
* Security Committee.
third term,
Paid-up Share Certificates
second term, \\i%; third term,
A%;
\X
1J€%; fourth term, 1%%.
retained on voluntary withdrawals, 20% on series less than 5 years
none.
l%%\
1^%.
old; after 5 years,
P.D.
8,
Part III.
131
Rates and Averages on Loans
59 real estate loans (average, $4,352 each; average rate, 6.08%): 6%, $215,200; 6 3 /io%, $28,600; 7%, $13,000.
23 share loans (average, $367 each; average rate, 6.05%): 6%, $7,150; 6 3 /io%, $1,310.
2 loans on paid-up share certificates : 6%, $590.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
$371.38
Other
Expenses
$338.76
J.212.64
1.36
1.24
8.10
Salaries
Rent
$1,502.50
5.50
Advertising
Total
NEWTON — WEST NEWTON CO-OPERATIVE BANK
1349
Washington
Street,
(Other authorized location for receipt of moneys:
Incorporated June 16, 1892.
West Newton
Room
Washington
715, 387
Began business June
22,
Street, Boston)
1892
Alfred E. Thayer, Treasurer
Charles E. Hatfield, President
Board of Directors: W. B. Baker*, F. J. Burrage, H. F. Cate, Alice L. Frost*, R. S. Harrison, C. E. Hatfield*,
F. M. Lowe*, M. F. Lucas*, Francis Newhall*, Ellery Peabody, W. S. Redfield, J. A. Reed, A. E. Thayer,
S. B. Thomas, H. L. Whittlesey*, J. E. Whittlesey.
Regular meeting for receipt of moneys the fourth Wednesday 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
Loans on paid-up share certificates
Bonds and notes
.
-
Temporary expense account
Due from
tional
trust companies
,186,050 00
22,840 00
2,965 00
300 00
170,083 86
889 90
and
banks
Dues capital
Profits capital
00
50
00
00
90
09
13,667 39
$788,473
157,992
241,200
128,400
383
22,537
.
Matured share
certificates
share certificates
Paid-up
Forfeited share account
Guaranty fund
Surplus
na-
14,761 21
11,043 91
Cash and cash items
24, 1928
Interest
Fines
8,365 11
380 62
119 75
35,000 00
12,395 44
14 00
5 08
.
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Overs and shorts
Bills
.
$1,408,933 88
$1,408,933 88
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
.
...
Matured during year
Shares in force
Shares now pledged
New
series issued in
3,796
3,062
29
632
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
16,667
6,893
1,306
388
.
1,204
188
.
Paid-up share certificates
112
March, June, September, De-
cember.
Profits Distributed
First term,
Unmatured Shares
V/§%\ second term, V/{(,%;
third term,
1V(6%; fourth term, F/f6 %.
Matured and Paid-up Share
First term, 1}£%'< second term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
fourth term,
10% on
series less
Certificates
1M%;
third term,
1M%-
than 5 years old; after 5 years,
Rates and Averages on Loans
317
loans (average, $3,741 each;
average rate, 5.99%):
6%, $1,171,650.
71 share loans (average, $322 each; average rate, 6%): 6%, $22,840.
3 loans on matured share certificates: 6%, $2,965.
1 loan on paid-up share certificates: 6%, $300.
real
estate
53 /io%
,
$2,400;
5H%,
$12,000;
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
Other
Expenses
$3,602.25
2.56
$906.40
$269.20
$1,127.92
.64
.19
.80
* Security Committee.
Total
$5,905.77
4.19
•
132
P.D.
NORTHAMPTON
8,
Part III.
THE NORTHAMPTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 103 Main Street, Easthampton; 127
Florence; 36 Main Street, Amherst)
Incorporated
May
21, 1889.
May
Began business
Main
Street,
24, 1889
Louis L. Campbell, President
Herbert R. Graves, Treasurer
Harold Y. Beastall, Assistant Treasurer
Board of Directors: O. B. Bradley, L. L. Campbell*, C. H. Chase*, F. L. Clapp, W. M. Cochran*, W. N. Doane,
G. A. Dragon, H. R. Graves, H. B. Haven*, R. W. Irwin, J. W. O'Brien*, E. E. Wood.
Regular meeting for receipt of moneys the
first
Monday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Common
Liabilities
real estate
shares
matured share certificates
paid-up share certificates
form mortgages
Real estate by foreclosure, etc.
Banking house
Furniture and fixtures
Temporary expense account
Insurance and taxes paid
Personal accounts
Due from trust companies and na
tional banks
$5,057,250
128,980
14,555
5,420
2,200
34,899
35,000
496
8,617
601
9
.
.
.
00
00
00
00
00
02
00
80
42
35
78
65,000 00
99,586 14
,
Cash and cash items
Dues
00
66
00
00
70
74
74
36
29
25
1,231 41
30,400 00
458 36
capital
Profits capital
$2,894,059
505,061
1,223,200
466,800
3,184
110,462
74,621
138,171
4,959
5
.
Matured share
certificates
certificates
Paid-up share
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
Withdrawal profits
Due on uncompleted loans
Building expense
.
$5,452,615 51
$5,452,615 51
Membership
Serial Shares
Issued during year
Withdrawn during year
11,418
8,909
.
Forfeited during year
422
Matured during year
1,526
59,574
30,518
Shares in force
Shares now pledged
New
series issued in
1928
1,
Members
Members who
are borrowers
5,553
1,704
Unmatured shares
Matured share certificates
4,406
931
Holders
of:
—
Paid-up share
367
certificates
May, November.
Profits Distributed
Unmatured Shares
First term,
2%%;
First term,
2%%;
second term, 2
Matured Share
/ %.
7
s
Certificates
second term,
2%%.
Paid-up Share Certificates
l
First term, 2 A%;
second term, 2%%Proportion of profits retained on voluntary withdrawals, 25% on series less than 4 years old; after 4 years,
none.
Rates and Averages on Loans
real estate loans (average, $3,633 each; average rate, 6%): 6%, $5,057,250.
share loans (average, $391 each; average rate, 6%): 6%, $128,980.
loans on matured share certificates 6%, $14,555.
loans on paid-up share certificates: 6%, $5,420.
1,392
330
19
6
:
Total Expenses for Year
Rent
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
Ll,243.13
2.06
Other
Expenses
Advertising
$1,500.00
.28
Total
',3,337.51
5,080.64
.61
2.95
NORWOOD — THE NORWOOD CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Bird
Incorporated September 20, 1889.
&
Son, Inc., East Walpole)
Began business October
1,
1889
John W. Schaeffer,
R. Russell Williamson, President
of Directors: A. P. Allen, F. G. Allen, R. T. Barr, E. H. Bartlett, D. E. Callahan,
Fisher*, G. F. Gavin, H. W. Gay*, H. H. Miller, J. E. Pendergast, J. W. Schaeffer,
W. F. Tilton, R. R. Williamson.
Board
Regular meeting for receipt of moneys the
first
* Security Committee.
Tuesday
of
Jr.,
Treasurer
Henry Crosby*,
Jr.,
each month.
F. L.
G. A. Stuntzner*,
P.D.
8,
Part IIL
133
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Loans on matured share
Bonds and notes
Banking house
Unpaid fines
Furniture and fixtures
.
certificates
tional
Dues capital
Profits capital
00
00
00
00
Matured share
Guaranty fund
61
Surplus
494 27
343 42
890 48
Interest
$3,557,400
64,250
10,100
25,000
4,697
Temporary expense account
Insurance and taxes paid
Due from
00
77
00
52
56
50
1 00
188 64
$2,426,819
567,071
622,800
67,262
34,415
10,511
.
certificates
Transfer fees
Withdrawal profits
Due on uncompleted loans
Security committee
Overs and shorts
139 50
2 00
19 98
.
trust companies
1928
Liabilities
....
Personal accounts
Transfer stamps
2,
18,995 81
3 00
.
33 99
.
and na -
banks
84,515 53
250 00
Cash and cash items
$3,748,102 79
$3,748,102 79
Membership
Serial Shares
Issued during year
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New series issued in April, October.
.
.
.....
—
Members
Members who
8,980
3,966
2,660
45,358
19,586
Holders
of:
are borrowers
3,460
1,132
.
Unmatured shares
Matured share certificates
3,287
501
.
Profits Distributed
Unmatured Shares
3%; second
First term,
term,
Matured Share
A%\
3%.
Certificates
l
second term, 2 A%.
First term, 2 1
Proportion of profits retained on voluntary withdrawals, 25%.
Rates and Averages on Loans
993 real estate loans (average, $3,582 each; average rate, 6%): 6%, $3,557,400.
149 share loans (average, $431 each; average rate, 6%): 6%, $64,250.
14 loans on matured share certificates: 6%, $10,100.
Total Expenses for Year
$1,963.66
$179.15
Other
Expenses
$2,532.76
.52
.05
.68
Rent
Salaries
Amount, paid for
56,037.31
1.61
.
Cost per $1,000 of assets
Advertising
Total
),712.91
2.86
ORANGE — ORANGE CO-OPERATIVE BANK
Incorporated January
8,
1889.
Began business January
Eben E. Gridley, President
23, 1889
William L. Kimball, Treasurer
Board of Directors: R. W. French, G. W. Fry, H. C. Gates, E. E. Gridley, E. S. Hall*, G. P. Harrington,
F. A. Howe, H. M. Johnson, W. L. Kimball, J. A. McKenna*, F. E. Parker, L. H. Rogers, S. J. TenBroeck*.
(2 Vacancies.)
Regular meeting for receipt of moneys the fourth Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
on real estate
on shares
remporary expense account
insurance and taxes paid
Due from trust companies and national banks
Iroans
lioans
24, 1928
Liabilities
$798,955 00
15,619 00
536 51
176 24
Matured share
Guaranty fund
Surplus
16,463 42
....
....
....
Dues capital
Profits capital
Interest
Fines
Transfer fees
.
Withdrawal
certificates
.
.
.
profits
payable for money borrowed
Due on uncompleted loans
Overs and shorts
Bills
.
$831,750 17
* Security
$436,929
84,514
260,000
13,945
00
16
00
07
12,261 79
16,404 77
417 70
25
224 83
5,000 00
2,050 00
2 60
$831,750 17
Committee.
134
P.D.
Issued during year
1,794
Withdrawn during year
954
.
Forfeited during year
11
Matured during year
353
....
Shares in force
Shares now pledged
New
series issued in
8,
Part
III.
Membership
Serial Shares
8,998
4,477
.....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
January, July.
965
413
.
877
177
.
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2M%;
3%.
term,
Matured Share
Certificates
second term,
25%
Proportion of profits retained on voluntary withdrawals,
2%%.
of last dividend.
Rates and Averages on Loans
392 real estate loans (average, $2,038 each; average rate, 6%): 6%, $798,955.
30 share loans (average, $521 each; average rate, 6%): 6%, $15,619.
Total Expenses for Year
Rent
Advertising
$150.00
$50.40
.18
.06
Salaries
Amount
$1,150.00
1.38
paid for
Cost per $1,000 of assets
.
Other
Expenses
$687. 13
.83
Total
2,037.53
2.45
PEABODY — THE PEABODY CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 289 Lincoln Ave., Cliftondale)
Incorporated
May
28, 1888.
Began business June
1888
16,
Roy N. Howe,
Patrick H. O'Conor, President
Treasurer
Board of Directors: C. S. Batchelder, T. F. Hayes, R. N. Howe, H. V. Hunt, Justus Jones*, M. E. Kelley,
D. C. Manning, P. H. O'Conor, L. P. Osborn, L. P. P. Osborne, Alonzo Raddin*, W. F. Sawyer, F. B.
Sloan*, G. F. Woodbury, P. J. Woods.
Regular meeting for receipt of moneys the third Saturday 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
Insurance and taxes paid
Personal accounts
.
Overs and shorts
Mortgage balance
Due from trust companies and national banks
Liabilities
$4,230,800
35,350
3,450
1,450
7,602
1,918
41
1,380
....
00
00
00
00
46
73
Dues capital
Profits capital
18
Surplus
77
Interest
.
6 18
.
94 58
Cash and cash items
20, 1928
Matured share
Paid-up share
certificates
certificates
Forfeited share account
890
87,759
76,171
40,530
....
....
.....
.
Guaranty fund
Fines
Transfer fees
Withdrawal
77,133 15
35 77
$2,291,674
456,679
878,400
425,400
Bills
Due
1,025 81
2 25
428 45
profits
payable for money borrowed
on uncompleted loans
Membership
Serial Shares
Issued during year
9,480
6,760
Forfeited during year
93
Matured during year
1,970
Shares in force
Shares now pledged
New
series issued in
90,000 00
10,300 00
$4,359,262 82
$4,359,262 82
Withdrawn during year
00
79
00
00
78
49
57
68
46,517
24,445
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
4,192
1,452
.
3,798
692
335
.
certificates
March, June, September, De-
cember.
Profits Distributed
First term,
Unmatured Shares
second term, \Y%%\ third term,
1%%;
1^8%; fourth term,
l%%.
Matured and Paid-up Share Certificates
1H%', second term, l}i%\ third term,
First term,
1M%;
fourth term,
Proportion of profits retained on voluntary withdrawals,
* Security Committee.
1%%.
10%
for 54
months.
135
P.D. 8, Part III.
Rates and Averages on Loans
\,SS8 real estate loans (average, $3,048 each; average rate, 5.97%): 5}4%, $250,900; 6%, $3,979,900.
116 share loans (average, $305 each; average rate, 6%): 6%, $35,350.
7 loans on matured share certificates 6%, $3,450.
!
:
2 loans on paid-up share
certificates
:
6%,
$1,450.
Total Expenses for Year
Rent
Salaries
Imount paid
$7,179.97
1.65
for
?ost per $1,000 of assets
.
PITTSFIELD
— THE
W. Plumb,
$364.94
!956.46
.22
Total
$13,216.88
3.03
$4,715.51
1.08
.08
PITTSFIELD CO-OPERATIVE BANK
Incorporated February
Arthur
Other
Expenses
Advertising
Began business March
15, 1889.
5,
1889
Lorenzo H. Gamwell, Treasurer
President
loard of Directors: G. S. Adams, R. A. Barbour, 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 meeting for receipt of moneys the second Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
9,
....
....
....
....
joans on real estate
-,oans on shares
joans on matured share certificates
joans on paid-up share certificates
Bonds and notes
.
leal estate by foreclosure, etc.
Jnpaid interest
Due from trust companies and national banks
$2,165,750
57,321
5,045
2,560
161,035
2,904
5,594
$1,547. 807 00
00
00
00
00
Dues capital
Profits capital
13
10
01
Forfeited share account
.
.
310,655
452,000
189,400
115
75,291
55,330
2,425
.
Matured share
Paid-up
certificates
share certificates
Guaranty fund
.
Surplus
.
.
Due on uncompleted
.
...
loans
Dividends on matured share
159,062 93
89,788 19
?ash and cash items
cates
.
.
cates
21
91
55
00
11,300 00
.
certifi-
4,735 00
.
$2,649,060 36
$2,649,060 36
Membership
Serial Shares
.
....
—
Members
Members who
5,342
4,934
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
40
778
29,668
....
Shares in force
>hares now pledged
^ew series issued in
69
00
00
certifi.
.
Dividends on paid-up share
ssued during year
Withdrawn during year
forfeited during year
Matured during year
1928
Liabilities
of:
Paid-up share
13,447
2,503
884
2,240
383
150
certificates
May, November.
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
First term,
1%
of
2^%;
on
second term,
2%%;
extra dividend
the above.
all
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
'91 real estate
loans (average, $3,134 each; average rate, 5.93%): 5%, $148,600;
'78 share loans (average, $322 each; average rate, 6%): 6%, $57,321.
10 loans on matured share certificates: 6%, $5,045.
5 loans on paid-up share certificates : 6%, $2,560.
6%,
2,017,150.
Total Expenses for Year
Rent
Salaries
Amount paid
for
I?ost per $1,000 of assets
18,471.54
.
3.20
PITTSFIELD
— UNION
Incorporated January 10, 1911.
L,
Advertising
551. 03
$502.68
.58
.19
Other
Expenses
$1,551.31
.58
Total
$12,076.56
4.55
CO-OPERATIVE BANK
Began business January
3eorge H. Cooper, President
17, 1911
(Office Vacant), Treasurer
William C. Stevenson, Assistant Treasurer
J. Bridgman*, F. H. Cande, C. C. Chesney, G. H. Cooper, T. F. Cosgriff, W. M. Crane,
M. Crane, J. B. Cummings, F. W. Dutton* D. F. Farrell*. E. E. Ferry, W. J. Foss, D. J. Gimlich* Harry Holden, E. N. Huntress*, Joseph Insull, J. F. Kahl, L. F. Lyons, D. T. Noonan, J. J. Pender, T. F. Plunkett, W. C. Root, H. J. Ryan, J. R. Savery, R. F. Stanton, W. C. Stevenson, D. P. Sweeney, H. W. Toby, W. A. Whittlesey, G. L. Willis.
loard of Directors: H.
Jr., Z.
Regular meeting for receipt of moneys the third Tuesday of each month.
* Security
Committee.
P.D.
136
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
on real estate
on shares
on matured share certificates
on paid-up share certificates
Temporary expense account
Due from trust companies and na
tional banks
Cash and cash items
Loans
Loans
Loans
Loans
8,
Part
III.
16, 1928
Liabilities
,013,283
35,244
2,875
1,620
386
Dues
22
00
00
00
60
capital
Profits capital
Matured share
certificates
share certificates
Paid-up
Forfeited share account
Surplus
....
Interest
Fines
Due on uncompleted
00
00
76
92
23
38
81
13,318
15,143
4,818
114 12
9,604 15
.
Guaranty fund
16,137 32
1,270 76
00
59
$689,179
95,698
135,400
107,400
.
loans
Security committee
38 75
$1,070,796 90
$1,070,796 90
Membership
Serial Shares
Members
Members who
5,819
4,304
10
176
18,581
7,099
Issued during year
Withdrawn during year
Forfeited during year
.
.
Unmatured shares
Matured share certificates
.
.
.
Paid-up share certificates
.
.
.
of:
466
....
.
Holders
Matured during year
Shares in force
Shares now pledged
New series issued in January, April, July, October
1,646
— are borrowers
1,558
104
104
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
134%; second term, 134%;
134%; fourth term, 134%-
First term,
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
326 real estate loans (average, $3,108 each; average rate, 5.94%): 5%, $52,850; 6%, $960,433.
136 share loans (average, $259 each; average rate, 6%): 6%, $35,244.
3 loans on matured share certificates: 6%, $2,875.
1 loan on paid-up share certificates: 6%, $1,620.
Total Expenses for Year
Rent
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
Advertising
52,700.00
$900.00
$521.22
2.52
.84
.49
Other
Expenses
$895. 66
.84
Total
$5,016.88
4.69
PLYMOUTH — THE PLYMOUTH CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: American Trust Company, 50 State Street,
Boston)
Incorporated June
7,
1882.
Began business June
20,
1882
Elmer E. Avery, Treasurer
John B. Washburn, President
Board of Directors: A. L. Barnes, Joseph Barnes*, E. K. Bartlett*, E. L. Burgess*, H. M. Douglas, W. J.
Engstrom, H. F. Goddard, F. J. Heavens, M. S. O'Brien*, F. R. Snow, H. R. Talbot, L. C. Tripp, J. B.
Washburn*, A. P. Whiting.
Regular meeting for receipt of moneys the third Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities
Assets
Loans on real estate
Loans on shares
Common form mortgages
Real estate by foreclosure,
54,036,000 00
etc.
Temporary expense account
Insurance and taxes paid
Personal accounts
Due from
tional banks
Cash and cash items
97,660
2,654
128,528
6,092
00
00
15
44
835 42
59 55
.
trust companies
16, 1928
Dues capital
Profits capital
.
Forfeited share account
Matured share account
Guaranty fund
Surplus
Interest
Premiums
and
58,974 13
88,639 56
Fines
Withdrawal profits
Due on uncompleted loans
Due on foreclosure sales
Overs and shorts
.
1
53
$4,419,443 25
$4,419,443 25
* Security
00
64
93
07
90
50
52
43
80
1,642 35
00
9,550
129 58
$3,208,315
778,163
189
177,461
78,182
58,993
96,483
5,227
5,102
Committee.
P.D.
8,
Part
137
III.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in June, December.
Members
Members who
15,161
4,481
.
Holders
577
of:
.
,
Unmatured shares
7,194
51,835
22,201
4,220
1,670
.
.
— are borrowers
.
»
.
4,220
.
Profits Distributed
Unmatured Shares
%;
First term, 3Vio
Proportion of profits retained on voluntary withdrawals,
25%
on
series less
second term, 2 9 /io %.
10%
than 5 years old;
thereafter.
Rates and Averages on Loans
1,502 real estate loans (average, $2,687 each; average rate, 6.30%): 6»/io% $4,036,000.
344 share loans (average, $284 each; average rate, 6.30%): &/*>%, $97,660.
f
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Advertising
7,546. 10
$1,099.00
$305.20
1.71
.25
.07
Total
$14,859.68
3.36
$5,909.38
1.33
QUINCY — THE QUINCY CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Quincy Trust Company, 27 Billings Road, Norfolk Downs; American Trust Company, 50 State Street, Boston)
Incorporated April 17, 1889.
Began business
May
7,
1889
Frank W. Crane, President
Frank A. Reed, Treasurer
Lillian A.
Moodie, Assistant Treasurer
Board of Directors: G. W. Abele, E. R. Atwood, L. S. Cleaves, F. W. Crane, R. E. Foy, J. P. Granahan, J. B.
Grossman, J. F. Hunt*, Perry Lawton, A. D. Martin, C. J. McGilvray, J. W. Nightingale, F. A. Reed,
J. G. Roberts, E. R. Stone, F. E. Tupper*, C. H. Wilson, J. F. Young*.
Regular meeting 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
Real estate by foreclosure, etc.
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
3,
1928
Liabilities
,874,050 00
85,330 00
9,000 00
27,589 26
838 73
100,000 00
151,250 15
Dues
$3,097,299
686,180
1,905,600
311,200
capital
Profits capital
.
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Personal accounts
Dividends on matured share
323 45
34
....
.
100,776
103,752
13,550
39
.
cates
.
Dividends on paid-up share
cates
25,448 51
certifi
3,889 17
.
$6,248,058 14
$6,248,058 14
Membership
Serial Shares
Issued during year
Withdrawn during year
.
16,165
10,355
Forfeited during year
242
Matured during year
5,239
67,245
32,632
1 Shares in force
1 Shares now pledged
New
series issued in
11
00
00
certifl
.
.
.
00
56
00
00
Members
Members who
.
.
Unmatured shares
Matured share certificates
.
Holders
of:
—
.
.
.
Paid-up share
5,861
1,780
.
.
are borrowers
,
.
4,864
1,313
238
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares
First term,
A%;
l l
second term,
1J^%; fourth term,
1^%.
Matured Share
First term,
1H%;
1%%;
l%%.
Paid-up Share
First term,
third term,
1%%;
third term,
Certificates
\%%.
Proportion of profits retained on voluntary withdrawals, none.
Committee.
X
134%; second term, 134%;
134%; fourth term,
* Security
A%;
Certificates
second term,
fourth term,
\
third term,
138
P.D.
8,
Part III.
Rates and Averages on Loans
$3,795 each; average rate, 6.07%): 53^%, $72,650; 6%, $314,000; Q14%,
1,548 real estate loans (average,
$5,487,400.
411 share loans (average, $208 each; average rate, 6.50%):
10 loans on matured share certificates : 63^%, $9,000.
6%,
6^2%, $85,255.
$75;
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
$8,088.00
1.29
$1,867.70
.30
Other
Expenses
Advertising
$334.50
$4,547.72
.73
.05
Total
$14,837.92
2.37
QUINCY — SHIP BUILDERS CO-OPERATIVE BANK
(Other authorized location for receipt of moneys:
Incorporated January 16, 1920.
Room
3,
Hancock
1359
Began business February
William R. Hurley, President
13,
Street, Quincy)
1920
Herbert A. Brecht, Treasurer
Board of Directors: H. A. Brecht, J. E. Burkhardt, J. Campagna, Olaf Carlberg, T. J. Donlin, L. D. Duncan,
Jr.*, R. Harmon, D. M. Holman, W. R. Hurley, G. Husband, M. J. L. Kennedy, W. T. McCormick,
W. J. Martin, N. Millar, W. J. Nolan, B. Rappaport* W. H. Rideout* J. E. Robbie, C. R. Young. (2
Vacancies.)
1
Regular meeting for receipt of moneys the second Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
12,
Liabilities
Loans on real estate
Loans on shares
Due from trust companies and national banks
$433,650 00
24,525 00
4,225 36
3,924 57
Cash and cash items
....
Dues capital
Profits capital
$321,191 00
54,579 74
46,000 00
1,101 40
4,030 10
3,162 51
30,000 00
5,170 00
25 00
490 18
Paid-up share certificates
Forfeited share account
.
Guaranty fund
Surplus
Bills payable for
.
.
.
.
money borrowed
Due on uncompleted
Security committee
loans
.
Other liabilities
Dividends on paid-up share
cates
.
.
.
.
.
.
.
certifi
575 00
.
$466,324 93
$466,324 93
Membership
Serial Shares
Issued during year
....
....
.....
....
Withdrawn during year
.
.
2,602
1,961
.
Forfeited during year
77
Shares in force
Shares now pledged
New
series issued in
1928
....
Members
Members who
Holders
of:
— are borrowers
798
174
.
Unmatured shares
8,644
3,019
Paid-up share
771
48
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares
First term,
1H%;
\
A%\
X
second term,
fourth term,
iy2 %.
Paid-up Share
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
114 real
estate loans
20%
on
series less
third term,
than 3 years old; after 3 years,
Rates and Averages on Loans
average rate, 6.43%): 6%, $23,300;
6%, $825; 6M%.
1M%;
1M%-
(average, $3,804 each;
$342,000.
62 share loans (average, $396 each; average rate, 6.24%):
third term,
Certificates
\\i%\ second term,
fourth term,
1^%;
6M%,
$68,350;
0>V2 %,
$23,700.
Total Expenses for Year
Rent
Advertising
$180.00
$212.66
$255.45
.39
.46
.55
Salaries
Amount
paid for
Cost per $1,000 of assets
.
* Security Committee.
Other
Expenses
$482.79
1.04
Total
$1,130.90
2.44
P.D.
8,
Part
139
III.
QUINCY — THE WOLLASTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys; Atlantic Pharmacy, Atlantic; 1135 Old South
Building, Boston)
Incorporated April
8,
1889.
Began business April
16,
1889
j
Herbert
Frederick H. Bishop, President
Arthur
W. Hood,
W. Pinkham,
Treasurer
Assistant Treasurer
Board of Directors: C. S. Adams, C. W. Bailey, C. H. Baker, F. H. Bishop, Thomas Fenno, J. B. Geddes,
A. W. Hood, E. R. Johnson, A. W. Macfarland, C. A. Macfarland*, A. M. MacMurray, Arthur Murphy*,
N. G. Nickerson*, N. H. Nickerson, H. W. Pinkham, W. S. Pinkham, R. W. Poole, A. H. Richards,
G. E. Thomas, C. F. Wilde.
Regular meeting 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
Real estate by foreclosure, etc.
Loans
Loans
Loans
Loans
.
Temporary expense account
Insurance and taxes paid
Mortgage balances
Overs and shorts
....
.
Other assets
Due from trust companies and na tional banks
Cash and cash items
.
16,
$4,683,610
93,890
7,690
1,000
2,005
1,623
1,063
9,919
31
00
00
00
00
17
57
09
24
64
487 48
.
Matured share
.
$2,737,740
615,119
1,209,400
126,600
.
certificates
Paid-up share certificates
Forfeited share account
Matured share account
Guaranty fund
Surplus
252
.
15,796
80,126
35,581
9,043
....
....
.....
.
Interest
Fines
751
401
30,000
9,939
68
Withdrawal
69,511 82
47
.
....
Dues capital
Profits capital
profits
Bills payable for money
Due on uncompleted
Personal accounts
Other
borrowed
loans
.
.
.
$4,870,832 48
Membership
Serial Shares
Issued during year
13,370
9,078
.
94
Forfeited during year
....
Members
Members who
Holders
2,255
Shares in force
56,571
.
.
Shares now pledged
26,857
New series issued in January, April, July, October.
.
.
of:
— are borrowers
4,195
1,310
.
Unmatured shares
Matured share certificates
Matured during year
.
00
42
00
00
69
97
65
07
60
55
92
00
50
93
10 18
liabilities
$4,870,832 48
Withdrawn during year
1928
Liabilities
3,654
816
97
.
Paid-up share certificates
.
Profits Distributed
Unmatured Shares
V/^%; third term,
First term, 1 74&%', second term,
lWe%; fourth term, F/f6 %.
Matured Share
First term,
1H%;
1%%;
Certificates
second term,
fourth term,
1%%.
Paid-up Share
A%\
\ Z
third term,
Certificates
First term, 1}4%', second term, \}/i%\ third term,
Proportion of profits retained on voluntary withdrawals,
none.
1H%:
25% on
fourth term,
series less
\%%.
than 5 years old; after 5 years,
Rates and Averages on Loans
1,118 real estate loans (average,
,208 each; average rate, 6%): 5>£%, $80,600;
$70,500.
277 share loans (average, $339 each; average rate, 6%): 6%, $93,450; 6J^%, $440
14 loans on matured share certificates : 6%, $7,690.
1 loan on paid-up share certificates : 6%, $1,000.
6%,
$4,532,510;
6J^%,
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$12,375.93
2.54
Rent
Advertising
Other
Expenses
$1,293.02
$354.35
82,994.81
.27
.07
.61
* Security Committee.
Total
$17,018.11
3.46
y
P.D.
140
RANDOLPH — THE RANDOLPH CO-OPERATIVE BANK
Incorporated January 29, 1889.
Began business February
8,
Part
III.
1889
7,
Franklin
W. Hayden,
Board
James Fardy*, T. A. Fardy, H. W. French, D. J. Hand, F. W. Hayden*, A. H. Holbrook,
H. F. Howard, J. T. Leahy, M. E. Leahy, F. D. McCarty, R. E. O'Brien*, A. C. Wilde.
Herman W.
President
French, Treasurer
of Directors:
Regular meeting for receipt of moneys the
first
Thursday
each month.
of
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
,473,400
8,870
3,940
1,400
11,679
1,657
.
Temporary expense account
Insurance and taxes paid
Due from
trust companies
00
00
00
00
68
Dues capital
Profits capital
51
Guaranty fund
$555,330
106,538
711,000
117,000
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
14
15,664
7,488
22,147
Surplus
76 78
and na
Interest
banks
Cash and cash items
885
Fines
Transfer fees
45,330 93
4,009 45
tional
3
Withdrawal profits
Due on uncompleted loans
Security committee
$1,550,364 35
Membership
Serial Shares
Issued during year
....
Matured during year
12,441
7,897
1,458
— are borrowers
558
Unmatured shares
Matured share certificates
994
453
95
Holders
468
Shares in force
Shares now pledged
series issued in
Members
Members who
3,095
1,717
193
.
Forfeited during year
New
00
94
00
0C
22
85
75
87
28
00
299 14
13,974 30
18 00
$1,550,364 35
Withdrawn during year
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
.
4,
of:
Paid-up share
certificates
February, August.
Profits Distributed
Unmatured Shares
2%%.
First term,
2V8 %;
First term,
2%%;
First term,
2)4%\ second term, 2\b%.
second term,
Matured Share
Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
Certificates
second term,
series less
2%%.
Certificates
than 5 years old; after 5 years,
Rates and Averages on Loans
6%): 6%, $1,473,400.
loans (average
,723 each; average rate,
27 share loans (average, $329 each; average rate, 6%)
5 loans on matured share certificates : 6%, $3,940.
2 loans on paid-up share certificates: 6%, $1,400.
54-1 real estate
.870.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
READING
$5,001.82
3.23
— READING
Rent
Advertising
.11
.31
$83.01
Other
Expenses
$1,077.98
Total
5,644.92
.69
.05
4.28
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Branch Office, Wilmington; New England
Trust Company, Boston; Office of C. S. Harriman & Co., No. Wilmington; Office of F. R.
Batchelder, North Reading.
Incorporated November 27, 1886.
Began business 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* H. Raymond Johnson,
Henry R. Johnson*, G. A. Parker, C. M. Spencer.
Regular meeting for receipt of moneys the Tuesday following the
* Security Committee.
first
Monday
of each
month.
P.D.
8,
Part III.
141
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
on real estate
on shares
on matured share certificates
on paid-up share certificates
Furniture and fixtures
Insurance and taxes paid
.
.
trust companies and
banks
Cash and cash items
83,770 00
10,580 00
6,600 00
Matured share
certificates
$1,645,358
377,070
529,600
291,400
.
.
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Bills payable for money borrowed
Due on uncompleted loans
.
Other liabilities
Dividends on matured share certifi.
1,400 00
358 55
85 00
m
....
...
....
Dues capital
Profits capital
551,650 00
•
Due from
1928
Liabilities
Loans
Loans
Loans
Loans
Personal accounts
2,
.
878
.
52,003
10,852
75,000
29,955
.
.
.
205
.
.
.
.
75,807 25
1,730 63
tional
cates
.
Dividends on paid-up share
12,373 36
.
certifi-
7,285 00
cates
$3,031,981 43
$3,031,981 43
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
00
30
00
00
00
22
75
00
00
80
Members
Members who
9,446
5,127
70
1,952
32,711
16,945
Holders
— are borrowers
of:
Unmatured shares
Matured share certificates
_
Paid-up share
certificates
.
2,920
1,026
.
.
2,561
.
.
.
.
.
.
.
.
.
410
271
May, November.
Profits Distributed
Unmatured Shares
First term,
2%%\
second term,
2%%.
Matured and Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.
25%
Certificates
2V2 %\
second term, 2Y2 %.
on series less than 5 years old; after 5 years,
First term,
Rates and Averages on Loans
848 real estate loans (average, $3,363 each; average rate, 6%): 6%, $2,851,650.
179 share loans (average, $468 each; average rate, 6%): 6%, $83,770.
IS loans on matured share certificates: 6%, $10,580.
5 loans on paid-up share certificates: 6%, $6,600.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$7,802.92
2.57
.
REVERE
— REVERE
Advertising
$520. 95
.17
$2,550.00
.84
Other
Expenses
$2,778.78
.92
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Revere Trust Company, Revere;
Trust Company, 50 State Street, Boston)
Incorporated October
1,
1901.
Total
$13,652.65
4.50
Began business October
14,
American
1901
Nelson S. Burbank, President
Willis G. Bond,t Treasurer
Board of Directors: A. M. Bommer, W. G. Bond*, E. W. Brown, N. S. Burbank*, S. J. Clark, A. F. Cornell*,
H. J. Cornell. A. H. Curtis, T. F. Driscoll, C. F. Gallagher, G. A. Gove, A. S. Hall, W. E. Hancock, D. C.
Landry, 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.
t
Deceased.
Alpha
J.
Smart
elected Treasurer,
November
14.
Regular meeting 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
Furniture and fixtures
Due from trust companies and naLtional banks
Cash and cash items
10,
1928
Liabilities
$809,165 00
22,850 00
1,675 00
8,795 17
1,000 00
437 80
7,636 71
10,014 60
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
Security committee
.
Other liabilities
Dividends on matured share
cates
$861,574 28
* Security Committee.
.
.....
.....
Dividends on paid-up share
cates
.
.
$455,080
96,765
228,600
32,000
32
15,010
20,904
5,000
4,400
38
200
00
45
00
00
85
25
48
00
00
00
00
certifi-
3,143 25
certifi-
400 00
$861,574 28
P.D.
142
Issued during year
2,106
1,420
Withdrawn during year
Forfeited during year
1
Matured during year
Shares in force
Shares now pledged
152
9,676
5,037
New
series issued in
8,
Part
III.
Membership
Serial Shares
Members
Members who
Holders
980
340
— are borrowers
of:
Unmatured shares
Matured share certificates
Paid-up share
841
233
36
certificates
February, May, August, No-
vember.
Profits Distributed
"Unmatured Shares
second term, l 7/f6 %; third term,
V/6%1 fourth term, V/^%.
First term,
V/{%%'>
First term,
1^8%; second term,
Matured Share
W %\
%
Certificates
l%%.
fourth term,
Paid-up Share
third term,
Certificates
First term, 1}4%'< second term,
\Y±%\ fourth term,
l%%;
\Vi%\
third term,
1M%-
Proportion of profits retained on voluntary withdrawals, 25% on series less than 6 years old;
from 6 to 7 years old; 5% on series from 7 to 8 years old; after 8 years, none.
15% on
series
Rates and Averages on Loans
283 real estate loans (average, $2,859 each; average rate, 6.11%): 6%, $618,065; 6J^%, $191,100.
88 share loans (average, $260 each; average rate, 6.14%): 6%, $16,275; 6>£%, $6,575.
5 loans on matured share certificates: 6%, $1,175; 61^%, $500.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$2,190.00
539.31
.74
$299.24
2.54
Other
Expenses
$570.30
.35
.66
Total
$3,698.85
4.29
ROCKLAND — ROCKLAND CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys:
W.
Incorporated February 21, 1911.
Francis
J.
Thomas Drew
&
Began business March
Geogan, President
Board of Directors: F.
Company,
9,
1911
Charles
S. Alger, S.
W.
Joseph Estes, F. J. Geogan, C. J.
C. A. Townsend*, H. T. Wright.
J.
Higgins, Treasurer
Baker*, L. E. Blanchard, J. D. Carney, E. S. Damon*, J. H. Dunn,
Higgins, Edward Hurley, M. W. Murrell, B. L. Stetson, J. E. Sullivan,
Regular meeting for receipt
of
moneys the second Thursday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
.
.
.
.
.
.
.
$1,044,700 00
28,315 00
12,511 11
315 17
31,916 40
653 28
.
Dues capital
Profits capital
.
Matured share
certificates
Forfeited share account
Matured share account
.
.
Guaranty fund
Surplus
Interest
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
13,582
13,454
4,226
10,233
08
08
56
98
91
25
23
42
00
Withdrawal profits
Due on uncompleted loans
Security committee
Overs and shorts
214
876
59
53
24 13
$1,118,410 96
Membership
Serial Shares
Issued during year
00
73
00
252
$1,118,410 96
Withdrawn during year
$684,780
145,574
244,400
738
Fines
Transfer fees
.
series issued in
11, 1928
Liabilities
Loans on real estate
Loans on shares
Real estate by foreclosure, etc.
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
So. Hanover;
Hanover; John F. Brooks, No. Hanover)
S. Curtis,
1,885
1,531
82
220
13,019
6,106
.....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
March, September.
.
1,259
376
1,169
.
190
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
3%.
Matured Share Certificates
second term, 2%%.
on series less than 5 years old; 10% on
First term,
2%%;
Proportion of profits retained on voluntary withdrawals, 25%
from 5 to 7 years old; after 7 years, none.
* Security Committee.
series
P.D.
8,
Part III.
Rates and Averages on Loans
421 real estate loans (average, $2,481 each; average rate, 6%): 6%, $1,044,700.
57 share loans (average, $497 each; average rate, 6%): 6%, $28,315.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
SALEM
— THE
Incorporated
Vincent
Salaries
Rent
Advertising
$1,504.50
1.35
$434.61
$115.50
.39
.10
Other
Expenses
$330.49
Total
2,385. 10
2.13
.29
ROGER CONANT CO-OPERATIVE BANK
November
9, 1894.
Began business November
13,
1894
Joshua B. Merrill, Treasurer
S. Peterson, President
Board 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. Stanley, G. A. Wilkins*. E. F. Woodman.
Regular meeting for receipt of moneys the second Tuesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
9,
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Unpaid interest
Due from trust companies and na
tional banks
Cash and cash items
,765,320
53,649
6,450
1,130
6,908
00
00
00
00
65
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
68,979 24
5,061 17
$1,355,929
268,111
836,400
273,800
149
48,942
58,433
40,000
11,854
.
Surplus
.
.
.
payable for money borrowed
Due on uncompleted loans
Bills
Dividends on matured share
cates
.
.
cates
.
10,455 00
.
certifi-
3,422 50
.
$2,907,498 06
$2,907,498 06
Membership
Serial Shares
Issued during year
Shares in force
Shares now pledged
.
New
series issued in
....
....
.
..
.
.
.
.
.
.
.
.
00
69
00
00
70
00
46
00
71
certifi-
.
Dividends on paid-up share
Withdrawn during year
Matured during year
1928
.
.
8,623
4,839
1,583
29,837
15,894
....
—
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
February, May, August, No-
of:
Paid-up share
2,595
903
2,150
595
226
certificates
vember.
Profits Distributed
Unmatured Shares
First term,
l 5/f6
%;
second term,
K %.
fourth term,
l 5,'iG%;
W
l 5/f6
Matured and Paid-up Share
%;
Certificates
134%; second term, 134%;
fourth term, 134%.
First term,
1M%;
Proportion of profits retained on voluntary withdrawals,
none.
740
136
19
8
25%
on
series less
third term,
third term,
than 4 years old; after 4 years,
Rates and Averages on Loans
average rate, 6%): 6%, $2,765,320.
loans (average, $394 each; average rate, 6%): 6%, $53,649.
on matured share certificates 6%, $6,450.
on paid-up share certificates: 6%, $1,130.
real estate loans (average, $3,737 each;
share
loans
loans
:
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
57,141.10
$1,652.70
$480.86
2.46
.57
.16
* Security Committee.
Advertising
Expenses
$4,435.64
1.63
Total
$13,710.30
4.72
144
P.D.
SALEM — SALEM CO-OPERATIVE BANK
Incorporated April
S.
7,
Began business April
1888.
13,
Herbert Wilkins, President
8,
Part
III.
1888
Albert C. Mackintire, Treasurer
Marion C. Groves,
Assistant Treasurer
Board of Directors: G. A. Bodwell, W. E. Curtis*, E. P. Lane, A. C. Mackintire, F. A. Neff, A. F. Smith*,
C. C. Tuttle, F. W. Waite, S. H. Wilkins*, W. F. Williams.
Regular meeting for receipt of moneys the second Friday 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
Temporary expense account
Insurance and taxes paid
Loans
Loans
Loans
Loans
:
.
.
....
Personal accounts
Cash and cash items
Dues capital
Profits capital
00
00
00
00
96
314 09
18 00
1,945 00
,326,370
107,563
4,700
3,600
1,304
.
Other assets
Due from trust companies and
tional banks
12, 1928
Liabilities
m
$2,664,188
543,442
925,200
453,400
3,426
88,983
63,626
22,522
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
Transfer fees
552
.
335,994 64
13,714 68
1
Withdrawal profits
Due on uncompleted loans
Overs and shorts
171
29,990
20
.
$4,795,524 37
00
28
00
00
81
28
04
73
70
50
03
00
00
$4,795,524 37
Membership
Serial Shares
Members
Members who
10,032
Issued during year
Withdrawn during year
8,766
257
Forfeited during year
1,990
Matured during year
54,208
Shares in force
25,489
Shares now pledged
New series issued in January, April, July, October
Holders
of:
—
4,810
1,507
are borrowers
Unmatured shares
Matured share certificates
Paid-up share
4,168
794
361
certificates
Profits Distributed
Unmatured Shares
First term,
1%%;
1%%;
second term,
fourth term,
1%%.
1%%;
Matured and Paid-up Share
First term,
1%%;
\\i%\ second term,
fourth term,
third term,
Certificates
1K%;
third term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1,154 real estate loans (average, $3,749 each; average rate, 6%): 6%, $4,326,370.
335 share loans (average, $321 each; average rate, 6%): 6%, $107,563.
12 loans on matured share certificates : 6%, $4,700.
6 loans on paid-up share certificates : 6%, $3,600.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$11,761.54
2.45
Rent
$2,968.26
.62
Advertising
$75.00
.02
Other
Expenses
$3,718.38
.77
Total
$18,523.18
3.86
SANDWICH — SANDWICH CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Falmouth National Bank, Falmouth;
of C. M. Chase, Hyannis; Office of L. A. Law, Provincetown)
Incorporated October
1,
1885.
Began business December
Jerome R. Holway, President
15,
Office
1885
Fletcher Clark, Treasurer
Board of Directors: W. C. Bartley, E. S. Clark, Fletcher Clark*, J. W. Freeman, J. R. Holway*, T. F. Kelleher*, L. A. Law, J. W. Liberty, W. E. R. Nye, A. R. Pope, O. L. Small, E. S. Talbot.
Regular meeting for receipt of moneys the third Tuesday of each month.
* Security Committee.
P.D.
8,
Part
145
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.
Banking house
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and
tional banks
Cash and cash items
16,
Liabilities
00
00
00
67
73
98
743 27
,403,550
24,050
9,900
43,524
24,412
3,295
88,850 43
8,291 59
....
....
Dues capital
Profits capital
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Security committee
Personal accounts
Dividends on matured share
.
.
.
.
.
.
.
...
.
.
.
.
.
.
$1,036,267
225,382
216,200
52,000
2,041
29,659
31,063
6,756
4
162
cates
.
.
.
.
10
00
59
5,783 25
.
1,300 00
$1,606,618 67
$1,606,618 67
Membership
Serial Shares
5,353
2,705
175
.
....
series issued in
10
26
certifi-
cates
New
00
09
00
00
28
certifi-
v
Dividends on paid-up share
Tssued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
1928
....
—
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
636
25,098
7,977
of:
Paid-up share
2,162
715
2,042
207
50
certificates
May, November.
Profits Distributed
Unmatured Shares
First term, 3 3/|ii%; second term, 3 5.i6 %.
Matured Share
Certificates
2%%.
First term,
2%%;
First term,
2}4%; second term, 2>2%.
second term,
Paid-up Share
Certificates
Proportion of profits retained on voluntary withdrawals, 10%.
Rates and Averages on Loans
$2,107 each; average rate, 7.24%): 5M%, $36,550; 5%%, $6,850; 6%, $276,050;
6M%, $55,100; 6H%, $120,450; 6M%, $59,400; 7%, $144,300; 7}4%, $64,000; 7}4%, $164,150;
7M%. $119,100; 8%, $91,800; 8^%, $58,500; 8 2 %, $50,350; 8%%, $28,850; 9%, $34,800; 9M%,
$27,500; 9V2 %, $27,450; 9M%, $17,250; 10%, $13,100; 10M%, $6,800; 10^%, $700; 10%%, $500.
51 share loans (average, $472 each; average rate, 7.89%): 5}i%, $950; 6%, $3,550; 63^%, $1,400; 6%%,
$700; 7%, $600; 73^%, $700; 7%%, $4,850; 8%, $2,450; 8M%, $1,500; 8%%, $1,500; 9%, $1,150;
9M%. $350; 9V2 %, $1,200; 9%%, $650; 10^%, $1,450; 10^%, $1,050.
666 real
estate loans (average,
V
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Rent
Advertising
53,363.00
$271.66
$79.25
2.09
.17
.05
Other
Expenses
$3,222.93
2.01
Total
$6,936.84
4.32
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
Thomas
March
31, 1911.
Eegan business
P. Parsons, President
May
10,
1911
Horace C. Ramsdell, Treasurer
Board of Directors: J. B. Allen*, J. G. Bryer, H. W. Dyer, A. D. Hitchings, G. I. Hull, G. L. Little, W. L. C.
Niles, K. L. Norris, T. P. Parsons, H. A. B. Peckham, J. A. Raddin*, H. C. Ramsdell, C. H. Stocker*.
A. L. Waitt, John Walkey*, D. B. Willis*.
Regular meeting for receipt of moneys the second Wednesday of each month.
* Security Committee.
146
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
8,
Liabilities
....
Loans on real estate
Loans on shares
Unpaid interest
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
.
.
$776,270
8,665
2,750
300
32
....
00
00
50
00
Dues capital
Profits capital
21
Forfeited share account
Matured share
Paid-up
certificates
share certificates
.
6,277
2,910
30,000
4,950
127
Surplus
Bills payable for
money borrowed
Due on uncompleted loans
Dividends on matured share
cates
5,160 88
certifi
1,750 00
$819,166 78
$819,166 78
Membership
Serial Shares
Issued during year
1,889
1,555
183
9,031
4,326
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
series issued in
00
00
00
53
06
00
00
00
certifi
Dividends on paid-up share
cates
31
43
....
....
....
Guaranty fund
31,063 62
85 45
00
$420,122
79,026
198,800
70,000
Security committee
New
Part III.
10, 1928
....
Members
Members who
Holders
— are borrowers
of:
Unmatured shares
Matured share certificates
May, November.
Paid-up share
956
295
.
792
152
52
.
certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%;
First term,
2)4%; second term, 2J^%.
second term,
Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
series less
Certificates
2%%.
Certificates
than 2 years old; after 2 years,
Rates and Averages on Loans
$2,762 each; average rate, 6%): 6%, $776,270.
28 share loans (average, $376 each; average rate, 6%): 6%, $8,665.
281 real
estate loans (average,
Total Expenses for Year
Rent
Advertising
$437.20
$139.04
.53
.17
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,500.00
1.83
.
Other
Expenses
$1,041.77
1.27
Total
$3,118.01
3.80
SCITUATE — SCITUATE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: The Butler Store, Marshfield)
Incorporated
March
29, 1928.
Began business April
10,
1928
John F. McJennett, Treasurer
Williams B. James, President
S. A. Agnew, T. B. Alexander, F. A. Beals, C. A. Brown, G. P. Bryant, J. W. Burke, P. F.
F. Crowley, Ellsworth Curtis*, W. J. Davidson, A. E. Dorr, Ignatius Francis, A. W. George,
W. P. Grovestein, W. B. James, C. C. Langille, J. F. McJennett, E. B. Page, J. W. Parker*, W. J.
Pettis, F. L. Sinnatt, W. F. Smith*, W. M. Wade, J. A. Ward, William Wolf.
Board of Directors:
Burke,
J.
Regular meeting for receipt
of
moneys the
first
Tuesday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on
real estate
Furniture and fixtures
Temporary expense account
Due from
trust
$16,700 00
148 50
16 29
companies and
tional banks
Cash and cash items
2,
1928
Liabilities
3,650 34
7 73
....
....
.....
Dues capital
Profits capital
Paid-up share certificates
Guaranty fund
Surplus
Interest
Fines
Due on uncompleted
loans
Security committee
Personal accounts
.
Other
liabilities
$20,522 86
* Security Committee.
.
.
.
$18,946 00
277 15
1,000 00
3 15
2 94
69 42
15 25
200 00
5 00
10
3 85
$20,522 86
P.D.
147
Part III.
8,
Membership
Serial Shares
Issued during year
....
....
.....
....
Withdrawn during year
Shares in force
Shares now pledged
New
.....
Members
Members who
2,986
102
2,884
Holders
— are borrowers
of:
316
7
.
Unmatured shares
Paid-up share
Series issued in January, April, July, October.
315
1
certificates
Profits Distributed
Unmatured Shares
1%%;
Third term,
fourth term,
Paid-up Share
Fourth term, 1J4%-
A%.
1 3
Certificates
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
6%, $16,700.
7 real estate loans (average, $2,386 each; average rate, 6%):
Total Expenses for Year
Rent
Salaries
Amount
Other
Expenses
$165.00
8.04
Advertising
paid for
Cost per $1,000 of assets
.
SHARON
— THE SHARON
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: National Shawmut
Street and 148 State Street, Boston)
Incorporated January 19, 1912.
John
J.
Total
$165.00
8.04
Bank
Began business February
of Boston, 179
Summer
1912
12,
Nathaniel Wheeler, Treasurer
Rafter, President
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 meeting for receipt of moneys the third
Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
real estate
shares
matured share certificates
paid-up share certificates
Temporary expense account
Insurance and taxes paid
Due from trust companies and na
tional
15, 1928
Liabilities
$837,825 00
15,890 00
4,510 00
1,180 00
944 61
100 00
Dues capital
Profits capital
$466,247
72,565
249,000
68,200
612
9,744
10,407
13,268
241
.
.
.
.
Matured share
certificates
certificates
Paid-up share
Forfeited share account
Guaranty fund
Surplus
banks
37,292 06
1,431 53
Cash and cash items
Interest
Fines
Transfer fees
.
152 42
8,670 00
60 00
$899,173 20
$899,173 20
Membership
Serial Shares
Issued during year
....
.....
....
.
.
.
.
Withdrawn during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
61
77
3 00
Withdrawal profits
Due on uncompleted loans
Security committee
Forfeited during year
00
63
00
00
26
88
63
.
.
.
.
.
.
.
.
3,116
1,945
35
115
11,637
4,845
Members
Members who
Holders
of:
933
272
— are borrowers
Unmatured shares
Matured share certificates
813
214
60
Paid-up share certificates
February, May, August, No-
vember.
Profits Distributed
First term,
1%%;
Unmatured Shares
second term, 1^2%; third term,
1K%;
fourth term,
A%.
\X
Matured Share
First term,
1^%;
1%%;
1%%.
Paid-up Share
First term,
1M%;
1%%;
less
third term,
Certificates
1}4%\ second term, 134%;
fourth term, \\i%.
Proportion of profits retained on voluntary withdrawals, 25% on series
none.
* Security Committee.
Certificates
second term,
fourth term,
third term,
than 5 years old; after 5 years,
148
P.D.
Rates and Averages on Loans
$3,565 each; average rate, 6.25%): 6%, $115,600;
285 real estate loans (average,
86 share loans (average, $441 each; average rate, 6.30%): 6 3 /io%, $15,890.
6 loans on matured share certificates: 63 /io%, $4,510.
2 loans on paid-up share certificates : 6 3 /io%, $1,180.
8,
Part
III.
6 3 /io%, $722,225.
Total Expenses for Year
Rent
Advertising
$387.94
$161.05
.43
.18
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,902.90
2.11
.
Other
Expenses
$851.16
3,303.05
.95
3.67
Total
SHIRLEY — SHIRLEY CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Residence of Walter G. Phelps, Littleton;
Office of Hollingsworth & 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
of Directors: A. L. Annis, G. W. Balch, G. F. Buxton, Michael Cotter, J. W. Desmond, F. H. Fowler*,
R. G. Hillman, Walter Knowles*, E. N. Livermore*, H. H. Lynch, T. F. Mullen, D. C. Parsons, W. G.
Phelps, J. T. Smith, J. M. Stevenson*.
Board
^\
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
certificates
.
Temporary expense account
Mortgage balances
$193,335 00
7,255 00
1,740 00
466 75
2,929 55
Due from trust companies and national banks
Cash and cash items
Dues
$120,602
20,088
34,800
21,000
2,557
capital
Profits capital
.
Paid-up
certificates
share certificates
Guaranty fund
Surplus
3,226 58
3,215 65
1,199 71
Interest
Fines
86 21
48 34
10,000 00
27 14
.
profits
Bills payable for money
borrowed
Security committee
$212,168 53
$212,168 53
Membership
Serial Shares
Issued during year
....
....
....
.....
....
.
Forfeited during year
Matured during year
.
.
.
585
716
16
39
Shares in force
Shares now pledged
New
00
71
00
00
38
1,759 04
Matured share
Withdrawal
Withdrawn during year
1928
Liabilities
....
....
Loans on real estate
Loans on shares
Loans on paid-up share
10,
2,784
1,186
series issued in January, April, July, October.
....
—
Members
Members who
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
of:
416
164
376
52
31
Paid-up share certificates
Profits Distributed
First term,
1%%]
Unmatured Shares
second term, l}i%\ third term,
1M%!
fourth term,
1H%.
Matured and Paid-up Share
First term,
1M%;
134%; second term,
fourth term,
1%%.
Certificates
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, 10%.
Rates and Averages on Loans
100 real estate loans (average, $1,933 each; average rate, 6%): 5%, $1,000; 6%, $192,335.
32 share loans (average, $217 each; average rate, 6%): 6%, $7,255.
2 loans on paid-up share certificates: 6%, $1,740.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$873.46
4.12
$245.00
1.15
$61.36
* Security Committee.
.29
Other
Expenses
$463.45
2.18
Total
1,643.27
7.74
P.D.
8,
Part III.
149
SOMERVILLE — CENTRAL CO-OPERATIVE BANK
—
(Other authorized locations for receipt of moneys: Branch Somerville Trust Company, 338 Broadway and School Street; Somerville National Bank, 15 Bow Street, Somerville)
Incorporated January 16, 1915.
Began business February
1915
1,
Charles E. Mongan, President
John
McCarthy Treasurer
J.
Board of Directors: W. F. Bennett, J. H. Brine, J. W. Campbell, M. H. Dewire, J. E. Donovan, J. H. Kelley,
T. F. Kennefick, M. T. Kennedy*, J. T. Kiley, J. E. Locatelli, A. B. Mahoney, J. F. McCarthy*, J. J.
McCarthy*, J. F. McGann, M. J. McGuire, C. E. Mongan*, J. J. Murphy, J. L. Murphy, J. P. Phillips,
K. C. Ringer, F. F. Rogers, M. J. Ryan, W. J. Shanahan.
Regular meeting for receipt of moneys the fourth
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
Common form mortgages
Real estate by foreclosure, etc.
Unpaid interest
Furniture and fixtures
Due from trust companies and ns
tional banks
Cash and cash items
22, 1928
Liabilities
.
$1,150,950
27,980
6,520
5,700
7,638
5,279
1,050
.....
....
00
00
00
00
73
Dues capital
Profits capital
Forfeited share account
.
61
Guaranty fund
.
8f>
Surplus
certificates
share certificates
Paid-up
.
.
.
.
Due on uncompleted
loans
Security committee
65,299 52
8,490 55
Dividends on matured share
5,662 28
Dividends on paid-up share
cates
certifi-
930 00
.
$1,278,909 26
$1,278,909 26
Membership
Serial Shares
Issued during year
....
Matured during year
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
545
Shares in force
Shares now pledged
series issued in
....
Members
Members who
5,378
3,222
101
.
Forfeited during year
New
15
32
61
16
51
certifi-
cates
Withdrawn during year
00
23
00
00
$615,301
129,839
416,600
74,400
785
11,017
3,695
20,626
52
Matured share
14,750
6,922
Paid-up share
1,350
333
.
1,087
315
.
50
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares and Matured Share
Certificates
First term, l 7/(^%; second term, l 7xfc%; third term,
1^6%; fourth term, V4t%.
Paid-up Share
Certificates
134%; second term,
fourth term, 1}£%.
First term,
1M%;
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, 20% on series less than 6 years old; 15% on series
ffom 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
222 real estate loans (average, $5,184 each; average rate, 6.44%): 6%, $117,300; 6J^%, $1,033,650.
96 share loans (average, $291 each; average rate, 6.50%): 6%, $890; 6K%, $27,090.
15 loans on matured share certificates : 6^%, $6,520.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Salaries
Rent
Advertising
$4,796.62
3.75
$775.25
$263.50
,1,752.59
.60
.21
1.37
Total
$7,587.96
5.93
SOMERVILLE — SOMERVILLE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: Somerville Trust Company Branch, 338 Broadway, Winter Hill; Atlantic National Bank, 41 Bedford Street, Boston)
Incorporated
J.
May
4, 1880.
Began business June
7,
Frank Wellington, President
1880
Daniel
S.
Farnum, Treasurer
Etta F. Smith, Assistant Treasurer
Board of Directors: A. W. Blake, E. P. Carr, O. W. Codding, L. M. Conwell, D. S. Farnum, C. I. Horton,
L. A. Penney*, J. S. Pike, R. W. Place, S. T. Richards, F. W. K. Smith, W. M. Snow, I. B. Walker*,
J. M. Webster*, J. F. Wellington, H. E. Wemyss, B. T. Williston.
Regular meeting for receipt of moneys the
first
* Security Committee.
Monday
of each
month.
150
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
$1,985,750 00
69,730 00
756 17
101 62
Temporary expense account
Insurance and taxes paid
trust companies
and
Dues capital
Profits capital
$1,607,528 00
359,880 26
358 30
47,000 00
14,710 49
9,328 36
.
Forfeited share account
Guaranty fund
Surplus
banks
Cash and cash items
66,126 09
1,224 34
tional
Interest
...
Fines
Transfer fees
237 07
1 25
180 76
80,000 00
4,400 00
51 00
12 73
Withdrawal
profits
Bills payable for money
Due on uncompleted
borrowed
loans
Security committee
Overs and shorts
.
$2,123,688 22
$2,123,688 22
Membership
Serial Shares
Issued during year
....
....
.....
....
6,217
4,992
Forfeited during year
119
Matured during year
1,462
Shares in force
29,546
Shares now pledged
12,941
New series issued in January, April, July, October.
Withdrawn during year
Part III.
1928
Liabilities
Loans on real estate
Loans on shares
Due from
8,
1,
.
.
.
.
.
.
.
.
....
Members
Members who
Holders
of:
— are borrowers
2,407
1,071
.
Unmatured shares
2,407
Profits Distributed
Unmatured Shares
V,((%\ second term, l 7/f6 %; third term,
fourth term, 1%%.
First term,
1%%;
Matured Share
Certificates
1J4%; second term, 134%;
fourth term, 1)£%.
First term,
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, on series less than 4 years old, Yi last dividend; on
series from 4 to 8 years old, J^ last dividend; after 8 years, none.
Rates and Averages on Loans
$2,662 each; average rate, 5.97%) 5%, $
325 share loans (average, $215 each; average rate, 6%): 6%, $69,730.
746 real
estate loans (average,
:
),800;
5J^%, $1,300; 6%, $1,944,650.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$5,900.00
2.78
.
Advertising
1,544.74
.73
$558. 50
.26
Other
Expenses
Total
$2,533.00
1.19
),536.24
4.96
SOMERVILLE — WEST SOMERVILLE CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 1136 Broadway, Teele Square, Somerville;
157 Boston Avenue, Ball Square, Somerville; 310 Broadway, Somerville)
Incorporated
November
29, 1890.
Began business December
11,
1890
Ralph M. Smith, Treasurer
Fred F. Stockwell, President
Annie M. Duran, Assistant Treasurer
Board of Directors: E. A. F. Burtnett, Z. E. Cliff, C. F. Crocker, W. H. Dolben, F. S. Emery, E. W. Evans,
H. C. Fallis* F. A. P. Fiske, F. H. Foster, W. E. Harris*, J. W. F. Hobbs, C. R. Horton, J. W. Jones,
J. M. Kent, H. P. Knight, E. D. Lacount, W. C. Mentzer, F. E. Moore, W. H. Peak, G. R. Reed, W. N.
Robbins*, Peter Salvi, E. A. Shaw, R. M. Smith, F. F. Stockwell, J. F. Terry, G. E. Wardrobe, H. E.
Weldon.
Regular meeting for receipt of moneys the third Monday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Loans
Loans
Loans
Loans
Bonds
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
Real estate by foreclosure, etc.
Banking house
Temporary expense account
Insurance and taxes paid
Due from
trust companies
banks
Cash and cash items
tional
15, 1928
Liabilities
Assets
,238,500
80,510
4,410
1,290
00
00
00
00
203,367
17,546
25,000
3,316
14
47
00
75
330 18
and na
Dues
capital .
Profits capital
Matured share certificates
Paid-up share certificates
Forfeited share account
Matured share account
.
.
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
45,400 83
13,157 25
Withdrawal profits
Due on uncompleted loans
Security committee
Other liabilities
Reserve for furniture and fixtures
$3,632,828 62
* Security Committee.
00
55
00
00
488 53
1,405 81
47,671 35
20,352 31
29,346 10
799 12
4 00
1,476 72
10,100 00
89 00
535 00
$2,075,097
442,354
649,000
352,400
1,709 13
$3,632,828 62
P.D.
8,
Part
151
III.
Membership
Serial Shares
.
Forfeited during year
....
Matured during year
Shares in force
Shares now pledged
New
series issued in
Members
Members who
10,870
7,757
148
2,159
41,332
18,991
Issued during year
Withdrawn during year
Holders
of:
—
3,284
are borrowers
906
....
Unmatured shares
Matured share certificates
Paid-up share certificates
.
.
.
.
.
.
.
.
.
3,064
465
303
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term, V/{6 %; second term, l 7/f6 %; third term,
1 746%; fourth term, F,f6 %.
Matured and Paid-up Share Certificates
1M%; second term, V/i%\ third term,
1M%; fourth term, \\i%.
First term,
Proportion of profits retained on voluntary withdrawals, one-sixth.
722 real
estate loans (average,
Rates and Averages on Loans
5%, $1,500;
$4,485 each; average rate, 6.07%)
:
5^%,
$60,150;
6%,
$2,646,200;
6K%,
$530,650.
341 share loans (average, $236 each; average rate, 6%):
18 loans on matured share certificates: 6%, $4,410.
6 loans on paid-up share certificates: 6%, $1,290.
6%,
$80,510.
•
Total Expenses for Year
Rent
Salaries
Amount paid
Cost
8,897. 13
for
per $1,000 of assets
.
2.45
SOMERVILLE
— WINTER
Advertising
Total
$5,376.83
1.48
$1,345.15
$2,737.36
.75
Other
Expenses
.37
$18,356.47
5.05
HILL CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 1164 Broadway, West Somerville; Highland
Trust Company, Union Square and Davis Square, Somerville)
Incorporated
George
S.
May
8,
1906.
Began business June
13,
1906
Ray R.
Lovejoy, President
Rideout, Treasurer
Harriett A. Osborne, Assistant Treasurer
Board of Directors: J. B. Adams, G. G. Brayley*, J. A. Breen, J. L. Carter, A. L. Durgin, B. F. Freeman,
H. E. Frost, H. B. Gerrish, C. C. Grimmons, Thomas Gullion, J. J. Hayes, J. A. Kilev, W. F. Lewis,
G. S. Lovejoy, A. W. Morrill, C. N. Page, N. P. Reed, S. M. Rich, R. R. Rideout*, A. W. Russell, A. E.
Sargent, C. L. Shea*.
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Temporary expense account
Insurance and taxes paid
.
Cash and cash items
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Furniture and fixtures
Overs and shorts
Due from trust companies and
tional banks
10,
m
,826,205 29
99,690 00
28,290 00
720
20,810
629
6,168
00
91
00
69
1,299 09
108 21
Dues capital
Profits capital
.
.
.
Matured share
certificates
share certificates
Paid-up
Forfeited share account
Matured share account
.
.
Guaranty fund
Surplus
Interest
Fines
Transfer fees
.
682,434 83
2,156 29
Withdrawal profits
Due on uncompleted loans
Security committee
Other
liabilities
$10,668,512 31
* Security
$4,461,621
947,597
4,479,600
377,000
1,547
121
136,785
107,421
112,229
2,670
9
1,764
39,670
00
37
00
00
26
23
00
44
36
73
75
17
00
375 00
100 00
$10,668,512 31
Committee.
152
P.D.
Membership
Serial Shares
Issued during year
24,398
Withdrawn during year
20,881
Forfeited during vear
83
Matured during year
6,852
Shares in force
98,271
Shares now pledged
52,973
New series issued in March, June, September, December.
8,
Part
Members
Members who
.
Holders
....
9,689
2,275
— are borrowers
of:
Unmatured shares
Matured share certificates
Paid-up share
III.
7,366
3,046
270
certificates
Profits Distributed
Unmatured Shares and Matured Share
l%%\
First term,
1
A%\
X
fourth term, 114%.
Paid-up Share
Certificates
First term, 1)4%', second term,
Proportion of profits retained on voluntary withdrawals,
none.
Certificates
second term, 1J^%; third term,
1H%\
25% on
1J4%;
third term,
fourth term, l\i%.
series less
than 6 years old; after 6 years,
Rates and Averages on Loans
1,959 real estate loans (average, $5,016 each; average rate, 6.49%): 5^%, $22,500;
$9,664,870.
437 share loans (average, $228 each; average rate, 6.50%): 6J^%, $99,690.
59 loans on matured share certificates: 63^%, $28,290,
2 loans on paid-up share certificates: 6H%, $720.
6%, $138,835; 614%,
Total Expenses for Year
Rent
Advertising
$3,037.95
$1,767.50
.28
.17
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
$26,162.42
2.45
.
Other
Expenses
$16,292.33
1.53
Total
$47,260.20
4.43
SOUTHBRIDGE — THE SOUTHBRIDGE CO-OPERATIVE BANK
Incorporated March
8,
1910.
Began business April
7,
1910
Edward D.
Joseph G. E. Page, President
Desrosier, Treasurer
Ernest A. Desrosier, Assistant Treasurer
Board of Directors:
Duplessis,
J.
J. L. Berthiaume, F. A. Bouvier, L. A. Caron, M. B. Clemence, E. D. Desrosier*, Antoine
C. Gabree*, Ronaldo Guilmette, J. V. Laughnane, David Lenti*, Joseph Metras*, H. B.
Ouellette, J. G. E. Page, A. J. Peloquin, H. J. Tetreault.
Montague, Elzebert
Regular meeting for receipt
of
moneys the
first
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.
.
Temporary expense account
Overs and shorts
Due from
tional
trust companies
banks
$964,200 00
37,128 00
4,285 00
1,450 00
4,638 18
523 76
50
and na-
Dues capital
Profits capital
1928
$563,741
106,100
213,000
97,600
69
14,742
9,920
4,954
115
.
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Fines
Transfer fees
.
Bills
Due
profits
payable for money borrowed
on uncompleted loans
12
$1,030,698 44
$1,030,698 44
Membership
Serial Shares
....
....
....
.....
....
Issued during year
2,358
Withdrawn during year
1,803
Forfeited during year
58
Matured during year
201
Shares in force
12,580
Shares now pledged
6,979
New series issued in January, April July, October.
.
00
30
00
00
36
53
32
28
25
55 28
11,000 00
9,400 00
Interest
18,473 00
Withdrawal
.
4,
Liabilities
.
.
....
—
Members
Members who
Holders
of:
are borrowers
Unmatured shares
Matured share certificates
Paid-up share
1,216
432
.
1,081
189
.
95
certificates
Profits Distributed
Unmatured Shares
First term,
2%%;
second term, 1%,%; third term,
1H%.
Matured and Paid-up Share
First term,
1M%.
25% on
Certificates
23^%; second term, 134%;
series less than 4 years old;
Proportion of profits retained on voluntary withdrawals,
from 4 to 6 years old; after 6 years, none.
* Security
Committee.
third term,
20% on
series
P.D.
8,
153
Part III.
Rates and Averages on Loans
326 real estate loans (average, $2,958 each; average rate, 6%): 6%, $964,200.
97 share loans (average, $383 each; average rate, 6%): 6%, $37,128.
<9 loans on matured share certificates : 6%, $4,285.
2 loans on paid-up share certificates: 6%, $1,450.
Total Expenses for Year
Rent
Salaries
Amount
$1,973.95
1.92
paid for
Cost per $1,000 of assets
.
SPRINGFIELD
$306.02
Total
$3,299.40
3.20
$1,019.43
.98
.30
— HAMPDEN
Incorporated July 21, 1919.
Other
Expenses
dvertising
CO-OPERATIVE BANK
Began business September
3,
1919
Henry W. Lloyd, President
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*, H. R. King*, H. W. Lloyd*, T. K. McAllister, E. L. McCracken, E. S. Munson,
F. L. H. Sjostrom, W. J. Wilson.
Regular meeting for receipt of moneys the
Wednesday
first
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
Real estate by foreclosure, etc.
$490,800
32,610
330
10,435
893
Temporary expense account
Due from
tional
trust companies
banks
3,
1928
Liabilities
00
00
00
35
07
and na
Dues capital
Profits capital
Paid-up share
00
41
00
88
6,808 47
5,770 28
4,062 54
145 21
50
204 79
10,000 00
4,320 00
$396,765
66,815
54,600
682
.
certificates
Forfeited share account
Guaranty fund
Surplus
15,106 66
.
Interest
,
Fines
Transfer fees
.
Withdrawal
Bills
Due
profits
payable for money borrowed
on uncompleted loans
$550,175 08
$550,175 08
Membership
Serial Shares
....
....
.....
....
Issued during year
2,463
Withdrawn during year
2,218
Forfeited during year
74
Shares in force
8,557
Shares now pledged
3,557
New series issued in March, June, September, December.
.
Proportion of profits
.
.
.
....
Members
Members who
Holders
of:
— are borrowers
785
233
.
Unmatured shares
Paid-up share
771
63
certificates
Profits Distributed
Unmatured Shares and Paid-up Share Certificates
First term, l\i%\ second term, 134%; third term,
1M%; fourth term, 1*4%.
retained on voluntary withdrawals, 50% on series less than 1 year old; 25% on series
from 1 to 5 years old; after 5 years, none.
Rates and Averages on Loans
158 real estate loans (average, $3,208 each; average rate, 6%): 6%, $490,800.
79 share loans (average, $413 each; average rate, 6%): 6%, $32,610.
1 loan on paid-up share certificates: 6%, $330.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
SPRINGFIELD
Salaries
Rent
$2,450.00
4.45
$613.94
$259.00
1.12
.47
— HIGHLAND
Other
Expenses
$1,158.25
2.10
Advertising
Total
1,481.19
8.14
CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 36
Oak
Street, Indian Orchard;
12
Pynchon
Street, Springfield)
Incorporated June
12, 1920.
Began business July
6,
1920
Herman
Walter L. Spaulding, President
C. Heiden, Treasurer
of Directors: L. E. Bauer, E. W. Carman, W. H. Daggett, B. E. Dibble, C. H. Gardner, W. W. Gumble*. H. C. Heiden*, C. R. Hutchinson, W. K. Kaynor, D. M. Ladd, William MacMartin, J. R. Morrissey, J. H. Paradis, C. L. Richards, Carlos Ruggles, Jr., W. J. Schlatter*, W. L. Spaulding, F. N. Wheeler.
Board
Regular meeting for receipt of moneys the
* Security
first
Committee.
Monday
of each
month.
P.D.
154
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
.
8,
1,
Part III.
1928
Liabilities
$270,150 00
14,305 00
150 00
.
Temporary expense account
Due from
trust companies and
banks
Cash and cash items
Dues capital
Profits capital
$214,553
32,493
29,200
403
2,751
2,738
.
Paid-up share
certificates
Forfeited share account
tional
2,290 40
1,741 44
Guaranty fund
Surplus
12
70
Interest
1,180 10
Fines
32 34
13 53
5,241 23
30 00
Withdrawal profits
Due on uncompleted loans
Security committee
$283,636 84
$288,636 84
Membership
Serial Shares
Issued during year
Withdrawn during year
00
79
00
03
1,302
1,239
....
.
Forfeited during year
56
Shares in force
5,130
Shares now pledged
1,942
New series issued in January, April, July, October.
Members
Members who
Holders
—
of:
Unmatured
519
139
are borrowers
502
34
share.s
certificates
Paid-up share
Profits Distributed
Unmatured Shares and Paid-up Share Certificates
X
First term, \ A%;
second term, \\i%\ third term,
1H%; fourth term, 134%.
Proportion of profits retained on voluntary withdrawals,
none.
100% on
series less
than
1
year old; after
1
year,
Rates and Averages on Loans
86 real estate loans (average, $3,141 each; average rate, 6%): 6%, $270,150.
53 share loans (average, $270 each; average rate, 6%): 6%, $14,305.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
SPRINGFIELD
Salaries
Rent
Advertising
$1,430.00
4.95
$724. 13
2.51
$51.75
— SPRINGFIELD
Incorporated April
13, 1882.
Other
Expenses
$682.48
2.37
.18
Total
$2,888.36
10.01
CO-OPERATIVE BANK
Began business
May
9,
H. W. Morrill, President
1882
A. C. Wentworth, Treasurer
Board of Directors: Charles Adams*, W. D. Bigelow*, E. A. Hall*, H. L. Hines, H. B. Hopson, A. L. Janes,
H. W. Morrill, H. A. Noble, A. B. Sanderson* H. A. Sanderson, A. C. Wentworth*, D. R. Winter*.
Regular meeting
for receipt of
moneys the second Tuesday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
on real estate
on shares
on matured share certificates
on paid-up share certificates
and notes
Common form mortgages
Real estate by foreclosure, etc.
Banking house
Unpaid interest
Unpaid fines
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash and cash items
....
.
1928
Liabilities
Assets
Loans
Loans
Loans
Loans
Bonds
.
9,
.
$3,274,050
125,495
13,930
1,730
110,000
14,694
56,602
100,000
13,848
1,392
Dues
00
00
00
00
00
00
Guaranty fund
61
Surplus
00
42
75
Personal accounts
543 13
00
32
00
00
12 00
83,978 14
116,205 06
3,900 00
9 91
13 95
.
Matured share
Paid-up
certificates
share certificates
Forfeited share account
Due on uncompleted
.
loans
.
Overs and shorts
Dividends on matured share
.
cates
428,055 22
8,682 25
$2,258,755
418,839
963,200
273,200
capital
Profits capital
.
Dividends on paid-up share
cates
$4,149,023 38
* Security Committee.
certifi-
24,080 00
.
certifi-
6,830 00
$4,149,023 38
P.D.
8,
Part
155
III.
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Holders
357
908
Matured during year
Shares in force
Shares now pledged
New
Members
Members who
9,360
7,135
.
.
.
4,148
1,294
.
.
.
3,642
.
.
.
.
.
.
.
Unmatured shares
Matured share certificates
.
45,843
20,978
series issued in
of:
— are borrowers
Paid-up share certificates
776
250
May, November.
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
First term,
2J^%; second term, 23^%.
Proportion of profits retained on voluntary withdrawals, 100% on series less than
from 1 to 8 years old; after 8 years, none.
1
year old;
10% on
series
Rates and Averages on Loans
932 real estate loans (average, $3,513 each; average rate, 5.99%): 5%, $[
617 share loans (average, $203 each; average rate, 6%): 6%, $125,495.
Ifi loans on matured share certificates : 6%, $13,930.
6 loans on paid-up share certificates : 6%, $1,730.
6%,
>,750;
$3,237,300.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$11,002.00
2.65
.
Other
Expenses
$9,382.26
2.26
Advertising
$1,799.89
$96.07
.43
.02
Total
$22,280.22
5.36
STONEHAM — STONEHAM CO-OPERATIVE BANK
Incorporated January
10, 1887.
Began business February
1,
1887
Charles Baldwin, President
Frank J. Howell, Treasurer
Board of Directors: Charles Baldwin*, G. R. Barnstead, F. H. Berry, E. R. Boyd, Andrew Christensen, S. H.
Green*, B. J. Hinds, C. W. Houghton, F. J. Howell, W. A. Leavitt, E. M. Noonan, O. W. Richardson,
W. O. Richardson, W. H. White*, E. L. Young.
Regular meeting 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
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and na
tional banks
Cash»and cash items
,583,200
47,720
8,740
2,580
2,011
1,120
164
....
....
.....
00
00
00
00
Dues capital
Profits capital
60
21
Forfeited share account
10
Surplus
.
.
.
.
Paid-up
.
Guaranty fund
Due on uncompleted
47,397 01
15,131 22
loans
Dividends on matured share
.....
.....
cates
61
51
93
76
certifi-
15,108 65
certifi-
$1,708,064 14
4,121 66
$1,708,064 14
Membership
Serial Shares
series issued in
02
00
00
148,092
534,200
166,200
281
25,287
12,074
8,183
certificates
share certificates
cates
New
1928
,514 00
.
Matured share
Dividends on paid-up share
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
9,
Liabilities
4,101
2,992
46
362
17,986
9,652
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
.
1,724
745
1,445
.
Paid-up share certificates
425
147
May, November
Profits Distributed
Unmatured Shares and Matured Share
First term, 2J/S %; second term, 2]4%.
Certificates
Paid-up Share Certificates
second term, 2J^%.
A%;
First term, 2 X
Proportion of profits retained on voluntary withdrawals, 25% until last term profits amount to $1, then $1
per share on series less than 6 years old; after 6 years, none.
Rates and Averages on Loans
513 real estate loans (average, $3,086 each; average rate, 6%): 5%, $3,450; 5J^%, $4,400; 6%, $1,575,350.
214 share loans (average, $223 each; average rate, 6%): 6%, $47,720.
13 loans on matured share certificates : 6%, $8,740.
5 loans on paid-up share certificates : 6%, $2,580.
* Security
Committee.
156
P.D.
8,
Partem.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$4,953.01
2.90
$630.88
$391.00
.37
.23
Other
Expenses
>1,405.26
.82
Total
$7,380.15
4.32
STOUGHTON — THE STOUGHTON CO-OPERATIVE BANK
Incorporated March 23, 1886.
Began business April
10,
1886
George Monk, President
Ralph
'
S.
Blake, Treasurer
Board of Directors: R. S. Blake, F. D. Clapp*, E. E. Curtis, A. L. Holmes*, J. J. Kennedy, H. W. Lowe, P. J.
McGarvey, George Monk, Cornelius Miirphy, F. C. Phillips, M. F. Powers, W. G. Pratt,* E. B. Southworth, R. P. Swan.
Regular meeting for receipt of moneys the second Saturday 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.
Due from trust companies and
tional banks
Cash and cash items
.
13,
Dues capital
Profits capital
,216,550 00
28,030 00
5,311 42
$708,649
152,595
245,400
127,800
48
26,404
10,286
9,036
.
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Personal accounts
40,421 90
4,656 16
.
foreclosure sale
.
Dividends on matured share
51
5,845 29
Dividends on paid-up share
certifi
3,195 00
cates
$1,294,974 48
$1,294,974 48
Membership
Serial Shares
series issued in
19
69
certifi
cates
New
00
99
00
00
58
254 68
5,458 55
.
Due on
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
1928
Liabilities
Members
Members who
2,788
1,732
56
471
13,598
6,662
1,358
— are borrowers
540
Unmatured shares
Matured share certificates
1,178
193
Holders
of:
Paid-up share
113
certificates
May, November
Profits Distributed
Unmatured Shares
First term,
2%%;
second term,
2%%.
Matured and Paid-up Share
A%\
First term, 2 X
Proportion of profits retained on voluntary withdrawals,
none.
25%
on
Certificates
second term, 2Y%%.
series less
than 5 years old; after 5 years,
Rates and Averages on Loans
494 real estate loans (average, $2,463 each; average rate, 6%): 6%, $1,216,550.
46 share loans (average, $609 each; average rate, 6%): 6%, $28,035.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
Advertising
$5,054.00
3.91
$546.82
$227.41
.42
.17
Other
Expenses
$948.09
.73
Total
3,776.32
5.23
SWAMPSCOTT — SWAMPSCOTT CO-OPERATIVE BANK
Incorporated July 21, 1920.
Reuben H.
Began business September
1,
1920
Joshua Mills, Treasurer
Mitchell, President
Board of Directors: C. B. Anderson, H. S. Baldwin, P. E. Bessom* J. M. Caunt, H. K. Gardiner, C. B. Humphrey, H. M. Kelley, J. W. Libby, H. D. Linscott, Joshua Mills* R. H. Mitchell, D. F. Nugent, O. G.
Poor*, D. B. H. Power, C. E. Rolfe, Joseph Shmishkiss*, C. F. Smith, C. G. Woodbridge.
Regular meeting for receipt of moneys the
* Security
first
Committee.
Tuesday
of each
month.
P.D.
8,
Part
157
III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
1928
2,
Liabilities
....
....
...
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Temporary expense account
Due from trust companies and national banks
Cash and cash items
.
.
.
.
.
.
Dues capital
Profits capital
$424,100 00
16,151 00
400 00
368 60
$331,908 00
55,391 71
43,000 00
78 00
5,124 11
8,974 08
4,257 44
137 83
64 04
500 00
2 00
.
.
.
.
Paid-up share certificates
Forfeited share account
.
Guaranty fund
Surplus
8,392 61
25 00
....
Interest
Fines
Withdrawal profits
Due on uncompleted loans
Security committee
$449,437 21
$449,437 21
Membersrlip
Serial Shares
....
....
.....
Issued during year
Shares in force
Shares now pledged
New
series issued in
.
.
.
....
Members
Members who
1,129
1,348
6,480
2,551
Withdrawn during year
.
Holders
— are borrowers
of:
456
124
.
Unmatured shares
March, June, September, De-
Paid-up share
429
34
certificates
cember.
Profits Distributed
Unmatured Shares and Paid-up Share
1M%;
First term,
1M%;
second term,
fourth term,
1%%.
Certificates
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
102 real estate loans (average, $4,157 each; average rate, 6.10%): 6%, $418,600; 7%, $5,500.
22 share loans (average, $734 each; average rate, 6%): 6%, $16,151.
1 loan on paid-up share certificates: 6%, $400.
Total Expenses for Year
Amount paid
Cost
for .
per $1,000 of assets
Salaries
Rent
51,646.58
$467.52
1.04
3.67
Other
Expenses
$411.46
Advertising
$1.40
.91
Total
$2,526.96
5.62
TAUNTON — EAST TAUNTON CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: O'Keefe & O'Keefe, 39 Crocker Building,
Taunton; Harrison K. Dean, Taunton Cotton Mills, East Taunton)
Incorporated November
12, 1909.
Began business November
Arthur E. Robbins, President
15, 1909.
Albert H. Chace, Treasurer
Board of Directors: C. R. Barstow* A. H. Chace, P. H. Corr, C. W. Davol, H. K. Dean*, Luther Dean, E. L.
Hall, E. W. Hart, J. C. Hart, C. E. O'Gara, C. D. Pierce, A. E. Robbins, H. L. White*, G. R. Williams,
G. E.
Wood.
Regular meeting for receipt of moneys the
first
Monday on
or after the fifteenth 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.
Insurance and taxes paid
Due from trust companies and national banks
.
.
15,
.
.
....
$283,150
4,770
14,046
78
00
00
99
40
16,444 11
Dues capital
Profits capital
$142,748 00
29,656 60
127,200 00
7,958 55
7,428 35
.
Matured share certificates
Guaranty fund
Surplus
Dividends on matured share
cates
certifi
3,498 00
.
$318,489 50
$318,489 50
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in May,
1928
Liabilities
875
687
91
225
3,141
1,592
.....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
November
.
309
136
.
250
91
Profits Distributed
Unmatured Shares and Matured Share
2%%;
second term,
Proportion of profits retained on voluntary withdrawals, none.
First term,
* Security
Committee.
2%%.
Certificates
158
P.D.
8,
Part
III.
Rates and Averages on Loans
126 real estate loans (average, $2,247 each; average rate, 6%): 6%, $282,750; 7%, $400.
10 share loans (average, $477 each; average rate, 6%): 6%, $4,770.
Total Expenses for Year
Rent
Salaries
Amount paid
for
Cost per $1,000
Other
Expenses
$231.26
Advertising
$1,200.00
3.77
.
of assets
Total
1,431.26
4.50
.73
TAUNTON — MECHANICS' CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 3 Taylor Building)
Incorporated September
Began business September
14, 1877.
1877
17,
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 meeting for receipt of moneys the Wednesday after the
first
Monday
after the fifteenth of each
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on real estate
Temporary expense account
Insurance and taxes paid
.
Due from
trust companies and
banks
Cash and cash items
24, 1928
Liabilities
on shares
on matured share certificates
on paid-up share certificates
Common form mortgages
Real estate by foreclosure, etc.
Banking house
Personal accounts
Dues capital
Profits capital
$3,785,145 00
38,975 00
18,705 00
$1,653,865
337,732
1,664,000
153,400
69,345
47,795
20,474
.
Matured share
certificates
share certificates
Paid-up
00
00
33
00
06
1,001 27
184 05
1,200
2,800
43,992
21,000
1,146
Guaranty fund
Surplus
Interest
964
Fines
Transfer fees
.
1
Due on uncompleted
8,500
loans
810
30
35
Building income account
Application fees
na-
tional
41,375 82
1,431 94
Overs and shorts
.
Membership
Serial Shares
Issued during year
.
.....
Members
Members who
9,548
7,775
Forfeited during year
302
Matured during year
1,510
Holders
of:
— are borrowers
37,212
20,759
series issued in January, April, July, October.
3,624
1,381
.
Unmatured shares
Matured share certificates
Shares in force
Shares now pledged
New
00
40
00
00
93
40
90
90
75
00
74
00
45
$3,956,956 47
$3,956,956 47
Withdrawn during year
month
2,833
1,229
112
.
Paid-up share certificates
Profits Distributed
Unmatured Shares
First term, Pvf6 %; second term,
l 7/fe%; fourth term, VAs%-
Matured Share
third term,
Certificates
1VS %;
second term,
\Y%%\ fourth term, 1%%.
First term,
l 7/fe%;
1%%;
third term,
Paid-up Share Certificates
second term, \\i%; third term,
A%;
First term, \ X
IH%;
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
1,255 real estate loans (average, $3,016 each; average rate, 5.96%): 53 /i ,%, $74,460;
$3,526,345.
115 share loans (average, $339 each; average rate, 6%): 6%, $38,975.
34 loans on matured share certificates: 5%%, $200; 6%, $18,505.
1 loan on paid-up share certificates : 6%, $1,200.
53^%, $181,310: 6%,
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
$10,169.03
2.57
* Security
126.21
$305.75
Other
Expenses
$2,611.36
11
.08
.66
Rent
Salaries
Committee.
Advertising
Total
$13,512.35
3.42
P.D.
8,
Part
159
III.
OLD COLONY CO-OPERATIVE BANK
TAUNTON
Incorporated February
7,
Began business March
1918.
11,
1918
James H. Carney, Treasurer
Joseph E. Bostock, President
Board of Directors: L. J. Antine, J. E. Bostock, C. M. Brackett, J. H. Carney, J. P. Corr*, W. J. Dana*, J. J.
Donovan, A. G. Foster, H. J. Hebert, Noah Lemaire, Andrew McGlynn, H. J. McNelly, Gaetano Orsi,
H. M. Poole*, J. T. Sherry, M. C. Silvia, M. F. Silvia, N. L. Stone, J. M. Westgate, W. T. Wordell.
Regular meeting for receipt
of
moneys the second Monday
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Liabilities
Assets
Due from
.
.
trust companies
Dues capital
Profits capital
$126,650 00
7,200 00
21 05
1,100 00
Loans on real estate
Loans on shares
Temporary expense account
Suspense
1928
8,
$116,115 00
23,195 73
1,042 99
1,099 04
782 40
1,357 76
28 78
28 75
4 00
150 00
.
Forfeited share account
Guaranty fund
and
Surplus
5,573 44
3,259 96
tional banks
Cash and cash items
Interest
Fines
.
Withdrawal profits
Security committee
Other
liabilities
$143,804 45
$143,804 45
Membership
Serial Shares
....
Issued during year
.
Withdrawn during year
Shares in force
Shares now pledged
New
.
.
.
of:
155
45
are borrowers
—
Unmatured shares
918
March, June, September, De.
series issued in
Holders
2,415
.
.
.
Members
Members who
365
457
.
.
.
cember.
155
Profits Distributed
Unmatured Shares
First term,
V>/\<b°7o\
second term,
1^6%; fourth term,
Proportion of profits retained on voluntary withdrawals,
none.
34
25%
on
series less
l b/{(,%;
third term,
l 5 /i6%.
than 2 years old; after 2 years,
Rates and Averages on Loans
average rate, 6%): 6%, $126,650.
$655 each; average rate, 6%): 6%, $7,200.
real estate loans (average, $3,725 each;
11 share loans (average,
Total Expenses for Year
Rent
Salaries
Amount
Advertising
$350.00
2.43
paid for
Cost per $1,000 of assets
.
Other
Expenses
$296.93
2.06
Total
$646.93
4.49
TAUNTON — TAUNTON CO-OPERATIVE BANK
Incorporated
March
6,
Began business March
1880.
Frederick E. Goff, President
17,
1880
Albert C. Francis, Treasurer
Board of Directors : J. F. Barden, H. H. Church, T. W. Dean*, A. C. Francis, J. P. Galligan, F. E. Goff, Theron
Gorham, H. S. Hastings, F. W. Hayman*, H. N. Hopkins*, G. A. King, B. C. Pierce, P. B. Reid, A. R.
White, L.
M.
Witherell.
Regular meeting for receipt of moneys the
first
Tuesday
after the fifteenth of each
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.
Unpaid interest
Unpaid fines
Due from trust companies and na
tional banks
Cash and cash items
....
month.
16,
1928
Liabilities
00
00
00
87
44
1,131 66
$2,651,050
51,750
7,400
26,121
11,270
Dues
.
Matured share certificates
Guaranty fund
Surplus.
Due on uncompleted
loans
Dividends on matured share
53,460 36
7,353 20
cates
$2,809,537 53
* Security
$1,501,693
310,673
911,400
30,232
20,619
8,300
capital
Profits capital
.
00
23
00
47
83
00
certifi
26,619 00
$2,809,537 53
Committee.
160
P.D.
Membership
Serial Shares
Issued during year
Forfeited during year
6,401
5,841
174
Matured during year
Shares in force
Shares now pledged
612
31,594
15,903
Withdrawn during year
New
series issued in
.
8,
Part III.
Members
Members who
2,558
— are borrowers
977
Unmatured shares
Matured share certificates
2,172
Holders
of:
May, November.
699
Profits Distributed
Unmatured Shares and Matured Share
3%; second
First term,
term,
Certificates
3%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
836
real estate loans
(average,
,171 each;
5^%,
average rate, 5.90%): 5 3 /io%, $34,300;
$2,539,350.
127 share loans (average, $407 each; average rate,
14 loans on matured share certificates: 6%, $7,400.
$77,400;
6%,
6%): 6%, $51,750.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$7,553.26
2.68
$517.86
$58.85
Other
Expenses
$1,456.63
.18
.03
.52
Tota
1
$9,586. 60
3. 41
TAUNTON — THE 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, J. M. Fitzgerald*, G. W. Grigor,
A. R. Leonard, K. E. Leonard, J. A. McDonald, C. S. Parker, H. H. Presbrey, J. A. Quigley, J. C. Silva,
Jr., A. C. Staples* E. A. Telow, J. G. Williams, H. S. Wood.
Regular meeting 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
Common form mortgages
Real estate by foreclosure, etc.
Temporary expense account
Insurance and taxes paid
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
.
16, 1928
Liabilities
,759,250
17,100
6,550
400
6,400
23,785
2,509
19
12
00
00
00
00
00
71
43
38
45
Dues
$826,951
148,201
709,400
43,000
30,157
15,810
31,143
capital
Profits capital
.
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Interest
.
payable for money borrowed
Due on uncompleted loans
Security committee
Other
liabilities
$1,842,697 13
$1,842,697 13
Membership
Serial Shares
Issued during year
Withdrawn during year
.
Forfeited during year
....
Matured during year
Shares in force
Shares now pledged
New series issued in January, July.
29
927 91
3 00
30,000 00
6,900 00
190 00
13 00
Fines
Transfer fees
Bills
26,112 36
557 80
00
85
00
00
01
07
4,998
4,055
55
367
19,015
9,400
.....
Members
Members who
Holders
of:
— are borrowers
.
Unmatured shares
Matured share certificates
Paid-up share
479
32
certificates
Unmatured Shares
/ %;
7
8
second term,
Matured Share
2%%.
2%%;
First term,
l
2J^%; second term, 2 A%.
second term,
Certificates
Proportion of profits retained on voluntary withdrawals, none.
* Security
2%%.
Certificates
First term,
Paid-up Share
Committee.
664
1,391
.
Profits Distributed
First term, 2
1,751
P.D.
8,
Part
161
III.
Rates and Averages on Loans
(average, $2,913 each; average rate, 5.97%): 5 3 /io%, $28,400;
$1,662,100.
47 share loans (average, $364 each; average rate, 6%): 6%, $17,100.
11 loans on matured share certificates: 6%, $6,550.
1 loan on paid-up sliare certificates: 6%, $400.
604
5*4%, $68,750;
real estate loans
6%,
Total Expenses for Year
Rent
Advertising
1,652.08
$180.00
$129.94
2.52
.10
.07
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Other
Expenses
Total
$2,168.33
1.18
7,
130. 35
3.87
TEMPLETON — THE BALDWINVILLE CO-OPERATIVE BANK
Incorporated July 16, 1889.
Began business July
24, 1889
Elwin L. Thompson, President
Clesson A. Stevens, Treasurer
Board of Directors: W. P. Abbott, A. L. Adams, R. D. Cook, C. A. Fletcher, F. L. Hager, W. P. Hawley,
W. S. Kenney, C. W. Nichols, W. E. Norton, W. F. Oliver, C. A. Stevens*, B. F. Stuart, T. J. Symons*
E. L. Thompson*, H. R. Wheeler.
Regular meeting for receipt of moneys the fourth 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,
Unpaid fines
.....
etc.
Temporary expense account
Insurance and taxes paid
Due from
....
trust companies
24, 1928
Liabilities
Dues
$247,700 00
2,375 00
996 47
16 41
432 88
333 84
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
and na-
tional banks
Cash and cash items
$160,983
32,859
27,800
26,800
293
capital .
Profits capital
7,422
2,390
3,426
24
Surplus
5,441 50
4,703 32
Interest
Withdrawal
profits
$261,999 42
$261,999 42
Membership
Serial Shares
Issued during year
Withdrawn during year
174
58
Shares in force
Shares now pledged
series issued in
'
January,
,
are borrowers
.
Unmatured shares
Matured share certificates
.
Holders
5
Matured during year
......
—
Members
Members who
656
371
.
Forfeited during year
Retired during year
New
00
58
00
00
21
40
53
26
44
of:
169
....
Paid-up share
3,272
1,687
417
Fury.
383
24
27
certificates
Profits Distributed
Unmatured Shares
3%; second
First term,
term,
3%.
Matured and Paid-up Share
First term,
25%
Proportion of profits retained on voluntary withdrawals,
on
Certificates
2J^%; second term, 2J^%.
series less
than 5 years old; after 5 years, none.
Rates and Averages on Loans
179 real estate loans (average, $1,384 each; average rate, 6.35%): 6%, $73,800; 6J^%, $173,900.
6 share loans (average, $396 each; average rate, 6.50%): 6>£%, $2,375.
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
$750.00
2.86
.
TISBURY
— THE
Rent
Advertising
$150.00
Other
Expenses
$327.90
1.25
.57
Total
$1,227.90
4.68
MARTHA'S 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. Bodfish, L. E. Briggs, C. J. Darling, A. O. Fischer, A. B. Hillman, H. N. Hinckley.
F. P. Luce, S. C. Luce, Jr., W. G. Manter, O. S. Mayhew, U. E. Mayhew* Archie Mellen* R. W. Norton,
H. L. Peakes, L. W. Renear*.
Regular meeting for receipt of moneys the second Wednesday of each month.
* Security Committee.
162
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
....
....
8,
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Due from trust companies and national banks
$532,225 00
4,750 00
400 00
Dues capital
Profits capital
.
.
.
.
.
.
certificates
certificates
Forfeited share account
.
Guaranty fund
.
.
.
.
.
.
.
.
.
.
Dividends on matured share
certifi-
cates
5,527 50
Dividends on paid-up share
cates
.
.
.
certifi.
680 00
.
$563,908 02
$563,908 02
Membership
Serial Shares
1,828
Withdrawn during year
Matured during year
521
772
Shares in force
Shares now pledged
New
series issued in
00
80
00
00
36
58
33
01
44
$252,169
55,235
201,000
27,200
15
7,717
13,827
93
442
Matured share
Paid-up share
26,533 02
.
Surplus
Security committee
Personal accounts
Issued during year
Part III.
10, 1928
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
5,106
2,891
May, November
Paid-up share
521
207
.
440
174
26
.
certificates
Profits Distributed
Unmatured Shares and Matured Share
First term,
2%%\
First term,
2^%;
second term,
Certificates
2%%.
Paid-up Share Certificates
second term, 2}4%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
222 real estate loans (average, $2,397 each; average rate, 6.02%): 6%, $522,625; 7%, $9,600.
22 share loans (.average, $216 each; average rate, 6%): 6%, $4,750.
1 loan on matured share certificates: 6%, $400.
Total Expenses for Year
Rent
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
WAKEFIELD
Advertising
$75.00
$1,175.00
2.08
Other
Expenses
$450.75
.13
— WAKEFIELD
.79
Total
$1,700.75
3.00
CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Odd Fellows Lower Hall, 393 Main Street,
Wakefield)
Incorporated January 31, 1887.
Began business March
1887
5,
Warren B. Wiley, President
Charles E. Walton, Treasurer
of Directors: G. W. Bears, A. H. Boardman, Elizabeth E. Boit, C. W. Boynton, E. J. Connelly, H. M.
Dolbeare, H. F. Eaton, Harry Foster, F. S. Hartshorne*, Thomas Hickey, L. M. Howe, C. E. Montague*,
J. W. O Connell, G. E. Smith, G. H. Stout*, W. H. Tay, C. E. Walton, W. B. Wiley*.
Board
Regular meeting for receipt of moneys the
first
Saturday 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
Unpaid interest
Unpaid fines
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
.....
....
6,
1928
Liabilities
00
00
00
79
403 46
32 26
$1,237,700
29,550
100
3,936
Dues capital
Profits capital
.
Matured share
certificates
Forfeited share account
.
Guaranty fund
Surplus
Due on uncompleted
loans
$910,584
181,424
136,600
5,154
33,266
31,101
3,054
00
21
00
49
59
75
27
29,137 47
325 33
$1,301,185 31
* Security Committee.
$1,301,185 31
\D.
8,
Part III.
163
Membership
Serial Shares
5sued during year
Withdrawn during year
orfeited during year
[atured during year
lares in force
lares now pledged
ew series issued in
3,178
2,244
15
.
Members
Members who
686
16,586
7,263
1,602
— are borrowers
559
Unmatured shares
Matured share certificates
1,532
Holders
of:
May, November.
126
Profits Distributed
Unmatured Shares and Matured Share
X
First term, 2 A%\
second term, 23^%.
roportion of profits retained on voluntary withdrawals,
none.
25%
on
series less
Certificates
than 5 years old; after 5 years
Rates and Averages on Loans
5%, $96,100; 5H%, $837,650; 6%, $303,950.
5^%, $11,700; 6%, $17,850.
37 real estate loans (average, $2,541 each; average rate, 5.58%):
05 share loans (average, $281 each; average rate, 5.80%):
1
loan on matured share certificates:
5^%,
$100.
Total Expenses for Year
mount paid
for
ost per $1,000 of assets
.
Salaries
Rent
S3.175.00
$92.00
$362.40
2.44
.07
.28
Other
Expenses
Advertising
Total
5,712.51
$2,083.11
1.60
4.39
WALPOLE — WALPOLE CO-OPERATIVE BANK
3ther authorized locations for receipt of moneys: Multibestos Company, Walpole;
Son, Inc., East Walpole)
Incorporated June
11, 1912.
Began business June
14,
Bird and
1912
Otis J. A. Dionne, Treasurer
arry A. Whiting, President
oard of Directors: H. M. Bonney, C. W. Bunker, T. M. Connell, O. J. A. Dionne, W. E. Everett, O. J. Fisher,
C. B. Gove* J. M. Gray, C. E. Hartshorn, W. H. Maguire*, N. L. McCully* P. A. Moore, H. A. Morse,
D. F. O'Brien, B. D. Rogers, A. W. Smith, H. E. Towne, H. A. Whiting.
Regular meeting for receipt of moneys the second Friday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
oans on real estate
oans on shares
dans on matured share certificates
emporary expense account
>ue from trust companies and na.
tional
banks
....
ash and cash items
13, 1928
Liabilities
$591,550 00
7,020 00
1,080 00
507 68
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Guaranty fund
7,778 96
3,085 28
Interest
.
Withdrawal profits
Due on uncompleted loans
12
Membership
Serial Shares
Withdrawn during year
[atured during year
6,980
4,873
5,699
75
$611,021 92
$611,021 92
isued during year
00
89
00
00
62
70
90
45 69
4,320 00
Surplus
Fines
$279,275
48,351
212,600
48,800
2,396
1,130
316
Members
Members who
Holders
of;
—
633
205
are borrowers
Unmatured shares
Matured share certificates
hares in force
7,127
hares now pledged
3,297
Few series issued in March, June, September, De-
Paid-up share
536
150
30
certificates
cember.
Profits Distributed
Unmatured Shares
X
third term,
1}4%; second term, \ A%\
fourth
term,
IV2 %.
13^%;
First term,
Matured Share
First term,
iy8 %;
fourth term,
First term,
roportion of profits retained on voluntary withdrawals,
none.
l%%.
z
\ /%%\
third term,
Paid-up Share Certificates
second term, 1%%; third term,
1M%;
1M%; fourth
25% on series
* Security Committee.
Certificates
\Y%%\ second term,
term, l)i%.
less
than 5 years old; after 5 years,
P.D.
164
8,
Part III,
Rates and Averages on Loans
188 real estate loans (average, $3,233 each; average rate, 6%): 6%, $591,550.
19 share loans (average, $369 each; average rate, 6%): 6%, $7,020.
8 loans on matured share certificates: 6%, $1,080.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
$695.00
1.13
$188.50
$47.45
Other
Expenses
$561.37
.31
.08
.92
Advertising
Total
$1,492.32
2.44
WALTHAM — WALTHAM CO-OPERATIVE BANK
Incorporated October
Edward
13, 1880.
Began business October
20,
1880
Earl F. Caswell, Treasure!
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 meeting for receipt of moneys the
Thursday
last
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
Furniture and fixtures
25, 1928
Liabilities
.
Temporary expense account
Insurance and taxes paid
$7,713,225
98,430
16,725
5,550
14,817
2,375
6,149
Matured share
certificates
share certificates
Paid-up
Forfeited share account
....
.
Guaranty fund
Surplus
....
.....
Interest
888
Fines
Transfer fees
37,319 01
700 00
tional
$3,619,746
741,560
2,409,000
782,000
1,365
130,320
34,261
37,529
capital
Profits capital
Due from
trust companies and na
banks
Cash and cash items
....
Dues
00
00
00
00
25
03
03
Bills
6
54,000
83,500
payable for money borrowed
Due on uncompleted
loans
Security committee
Other
312
800
liabilities
Membership
Serial Shares
Issued during year
....
....
....
....
.....
....
Forfeited during year
13
00
00
95
55
29
79
96
25
00
00
00
00
$7,895,290 92
$7,895,290 92
Withdrawn during year
00
....
—
Members
Members who
27,438
24,389
Holders
200
of:
are borrowers
Unmatured shares
Matured share certificates
Matured during year
2,081
Shares in force
79,771
Shares now pledged
40,324
New series issued in January, April, July, October.
Paid-up share
.
7,925
2,366
.
5,587
1,870
743
certificates
Profits Distributed
First term,
VM;
Unmatured Shares
second term, VAs%\ third term,
V/m %;
fourth term, V/fc%.
Matured and Paid-up Share Certificates
1M%; second term, 1M%; third term,
First term,
1M%;
fourth term,
1M%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
£,478 real estate loans (average, $3,119 each; average rate, 6%): 5%, $1,675; 6%, $7,711,550.
740 share loans (average, $133 each; average rate, 6%): 6%, $98,430.
65 loans on matured share certificates: 6%, $16,725.
29 loans on paid-up share certificates: 6%, $5,550.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$17,680.54
2.24
* Security
!,960.71
.50
Committee.
Advertising
$2,374.77
.30
Other
Expenses
Total
$7,892. 15
$31,908. 17
1.00
4.04
P.D.
8,
Part
165
III.
WALTHAM — WATCH CITY CO-OPERATIVE BANK
Incorporated March 25, 1914.
Began business April
1914
6,
Leonard
Joseph P. Morrissey, President
J.
Rooney, Treasurer
Board of Directors: Warren Ames, C. G. Chase, D. S. Cormier, A. J. Doherty, J. J. Fahy, E. F. Flannery*,
T. F. Flannery, Marshall Floyd, P. L. Flynn, A. W. Gray*, C. H. Green, Philip Hanagan, J. P. Lewis,
Dominic Mangone, E. O. Maxwell, J. A. McCarty, J. P. Morrissey*, T. F. Neelon, C. L. Reade, L. J.
Rooney, J. T. Ryan, W. E. Sawyer* Royce Taylor, T. A. Tracey*.
Regular monthly meeting for the receipt of moneys, the
last
Thursday
of each
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans on real estate
Loans on shares
Furniture and fixtures
.
.
Due from
.
....
trust companies
25, 1928
Liabilities
Temporary expense account
Personal accounts
month.
$341,325
2,375
750
417
15
00
00
Dues capital
Profits capital
18
Matured share
90
42
Paid-up share
.
.
Guaranty fund
5,312 72
1,968 00
.
certificates
certificates
Forfeited share account
Matured share account
and na-
tional banks
Cash and cash items
164,941
25,134
109,800
37,800
1,484
21
2,111
1,384
.
Surplus
....
Withdrawal profits
Due on uncompleted loans
Security committee
Dividends on matured share
1,347 50
Dividends on paid-up share
certifi
427 50
cates
$352,164 22
$352,164 22
Membership
Serial Shares
Issued during year
Members
Members who
3,232
1,388
.
Forfeited during year
....
Matured during year
Holders
280
352
of:
565
102
— are borrowers
Unmatured shares
Matured share certificates
Shares in force
Shares now pledged
New
88
22
certifi
cates
Withdrawn during year
41
40
864 16
38 55
19 35
6,775 00
15 00
Interest
Fines
00
25
00
00
5,399
1,939
April,
July,
October.
series issued in January,
Paid-up share
495
85
32
certificates
Profits Distributed
First term,
1M%;
Unmatured Shares
second term, l}i%; third term,
1%%;
fourth term,
1M%-
Matured and Paid-up Share
1M%5
1%%;
Certificates
1M%;
third term,
Other
Expenses
$717.15
2.03
Total
$2,970.90
8.44
second term,
fourth term, \\i%.
First term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
88 real estate loans (average, $4,112 each; average rate, 6%): 6%, $341,325.
19 share loans (average, $125 each; average rate, 6%): 6%, $2,375.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$949. 68
2 70
$946.37
2.69
$357 70
1 02
/
WARE — WARE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Office of T. D. Potter
Lumber Company,
Bondsville)
Incorporated March 23, 1920.
Began business April
10,
1920
Flynn R. Person, Treasurer
Charles B. Wetherby, President
Board of Directors: Cyrille Ballard, E. J. Brannigan*, B. W. Buckley*, L. B. Campbell, L. H. Cummings*,
W. N. Howard*, J. H. Jolliffe, C. H. Leahan, R. G. Livermore, A. F. McBrinn, L. H. Moore, G. H. Morgan, W. N. Newcomb, F. R. Person, J. H. Schoonmaker*, B. W. Southworth, L. E. St. Onge, J. G. West,
C. B. Wetherby, C. E. Williams, M. C. Wood.
Regular meeting for receipt of moneys the second Friday of each month.
* Security
Committee.
166
P.D.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
$533,780 00
13,808 00
400 00
9,451 15
115 18
16 03
2 80
Temporary expense account
Insurance and taxes paid
Overs and shorts
.
tional
trust companies
and
Dues capital
Profits capital
Paid-up share
13,515 28
certificates
Forfeited share account
Guaranty fund
6,617 10
15,326 57
2,341 63
Surplus
Interest
Fines
n;
banks
00
58
00
77
$418,880
74,191
48,000
919
.
42 40
.
Withdrawal profits
Due on uncompleted loans
6 73
4,762 66
$571,088 44
$571,088 44
Membership
Serial Shares
Issued during year
1,063
Withdrawn during year
787
50
Forfeited during year
Members
Members who
Holders
of:
7,630
3,284
series issued in January, April, July, October.
707
227
— are borrowers
Unmatured
Shares in force
Shares now pledged
New
Part III.
Liabilities
Loans on real estate
Loans on shares
Loans on paid-up share certificates
Real estate by foreclosure, etc.
Due from
8,
12, 1928
686
52
shares
Paid-up share
certificates
Profits Distributed
Vnmatured Shares and Paid-up Share Certificates
First term, 1;!4%; second term, 1J4%; third term,
134%; fourth term,
Proportion of profits retained on voluntary withdrawals,
none.
20%
on
1M%-
than 4 years old; after 4 years,
series less
Rates and Averages on Loans
189 real estate loans (average, $2,824 each; average rate, 6%): 6%, $533,780.
40 share loans (average, $345 each; average rate, 6%): 6%, $13,808.
1 loan on paid-up share certificates: 6%, $400.
Total Expenses for Year
Rent
Advertising
$240.00
$42.90
.42
.07
Salaries
Amount
paid for
Cost per $1,000 of assets
$1,003.12
1.76
.
Other
Expenses
$349.20
Total
L,
635. 22
2.86
.61
WAREHAM — WAREHAM CO-OPERATIVE BANK
Incorporated
May
1,
1918.
Began business June
1918
Edward
James T. Hennessy, President
Board of Directors: F. B. Barden, E.
1,
L.
Bartholomew,
J. J.
Crocker, J. L. Eldridge, A. E. Griffin, I. C. Hammond,
J. C. Makepeace, G. H. Smith, J. W. Whitcomb*.
C. Bodfish, Treasurer
Beaton, E. C. Bodfish*, G. E. Cornwell, T. M.
J. T. Hennessy*, George Lang, F. M. Larchar,
Regular meeting 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
$263,350 00
9,023 00
69 68
Temporary expense account
Due from
trust companies
banks
Cash and cash items
tional
9,
1928
Liabilities
....
....
....
Dues capital
Profits capital
Paid-up share
certificates
Forfeited share account
and
5,479 77
53 31
.
Guaranty fund
Surplus
.....
Interest
Fines
Withdrawal profits
Due on uncompleted loans
$277,975 76
* Security Committee.
$195,791 00
39,392 46
27,800 00
26
33
79
77
65 25
1 90
2,175 00
3
3,014
6,506
3,225
$277,975 76
P.D.
8,
167
Part III.
Membership
Serial Shares
630
205
Issued during year
Withdrawn during year
.
Forfeited during year
7
Holders
series issued in
of:
360
105
— are borrowers
Unmatured shares
3,612
1,535
Shares in force
Shares now pledged
New
Members
Members who
Paid-up share
345
26
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term,
1%%;
second term,
l%%.
lVs%; fourth term,
Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.
series less
third term,
Certificates
134%; second term,
fourth term, \\i%.
First term,
1M%;
25% on
1%%;
\
A%\
X
third term,
than 5 years old; after 5 years,
Rates and Averages on Loans
109 real estate loans (average, $2,416 each; average rate, 6.90%): 6%, $17,150; 6J^%, $2,000; 7%, $244,200.
22 share loans (average, $410 each; average rate, 7%): 7%, $9,023.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$740.00
2.66
$100.00
$149.46
.36
.54
Other
Expenses
Total
L.217.58
$228. 12
.82
4.38
WATERTOWN — THE WATERTOWN CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 591 Mt. Auburn Street, Watertown; Atlantic
National Bank, 10 Post Office Square; 88 Summer Street; 41 Bedford Street; 1199 Washington Street; and 238 Huntington Avenue; 98 Canal Street, Boston)
Incorporated June 23, 1888.
Began business June
28, 1888
Ulysses S. Young, Treasurer
Pierce L. Fish, President
Lowell A. Warren, Assistant Treasurer
Board of Directors: A. W. Belding, Arturo De Filippo*, P. L. Fish, Andrew Hawes*, J. H. Hood, W. H. Iliffe,
W. H. Lucas* J. M. Magurn, W. L. Mayo, B. F. McGlauflin*, W. P. McGuire* H. W. Otis, U. S. Young.
Regular meeting for receipt
of
moneys the
Thursday
last
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
Real estate by foreclosure, etc.
Banking house
Temporary expense account
Overs and shorts
Due from trust companies and
25, 1928
Liabilities
.
m
tional banks
Cash and cash items
$13,530,700
138,040
27,445
7,460
21,175
118,239
48,000
10,973
41
00
00
00
00
00
89
00
20
00
207,296 31
1,200 00
.
Dues capital
Profits capital
$6,978,556
1,579,024
3,730,800
1,386,600
165,243
40,367
138,662
3,489
.
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
Interest
Fines
.
.
.
.
Withdrawal profits
Due on uncompleted loans
Security committee
659
85,167
1,150
848
Suspense
00
30
62
78
93
88
51
00
86
$14,110,570 40
$14,110,570 40
Membership
Serial Shares
Issued during year
74,917
Withdrawn during year
55,725
Matured during year
7,008
Shares in force
154,727
Shares now pledged
74,482
New series issued in March, June, September, December.
....
00
52
00
.
.
Members
Members who
Holders
of:
—
11,064
3,219
are borrowers
Unmatured shares
Matured share certificates
Paid-up share
9,308
2,779
1,235
certificates
Profits Distributed
Unmatured Shares
^%;
First term, 1 7
second term, l 7/fe%; third term,
l 7/fe%; fourth term, V/^%.
Matured and Paid-up Share
\\i%\ second term, 134%;
1M%;
1M%-
fourth term,
Proportion of profits retained on voluntary withdrawals, none.
* Security
Certificates
First term,
Committee.
third term,
P.D.
168
3,085
702
69
20
8,
Part III.
Rates and Averages on Loans
real estate loans (average, $4,386 each; average rate, 6%): 6%, $13,530,700.
share loans (average, $197 each; average rate, 6%): 6%, $138,040.
loans on matured share certificates: 6%, $27,445.
loans on paid-up share certificates: 6%, $7,460.
Total Expenses for Year
Rent
Advertising
),219.75
.72
$4,507.15
Salaries
Amount
paid for
Cost per $1,000 of assets
$37,127.21
2.63
.
.32
Other
Expenses
$20,658.88
1.46
Total
$72,512.99
5.13
WEBSTER — THE WEBSTER CO-OPERATIVE BANK
W.
(Other authorized location for receipt of moneys:
Incorporated August
2,
1889.
C. Lewis, Southbridge)
Began business August
8,
1889
James
George F. Hart, President
Board
P. Bergin, Treasurer
James Brennan, E. J. Blaszczak, F. E. Cassidy, J. W. Dobbie, G. F. Hart*,
W. C. Klebart, C. W. Kosmaler, J. E. La Bonte, J. P. Love*, J. P. Love,
Merritt, H. B. Montague, J. N. O Kane, H. H. Steinberg, Alexander Wylie.
of Directors: J. P. Bergin*,
W. H.
Jr.,
King, August Kisro,
Henry
Regular meeting 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,
Banking house
Furniture and fixtures
11, 1928
Liabilities
,200,430 00
18,470 00
8,953
6,200
1,452
1,396
etc.
Temporary expense account
$762,417
154,123
149,800
122,800
103
30,076
capital
Profits capital
11
Matured share
00
60
89
Paid-up
Due from
trust companies and na
banks
Cash and cash items
....
Dues
certificates
share certificates
Forfeited share account
.
Guaranty fund
Surplus
18,391 80
5,121 98
tional
16,101
17,341
Interest
Premiums
887
420
Fines
Transfer fees
.
1
Withdrawal profits
Due on uncompleted loans
Security committee
102
6,141
100
Membership
Serial Shares
Issued during year
Withdrawn during year
.
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in February, August
-
....
.
61
00
00
09
37
65
27
20
45
00
36
63
75
$1,260,416 38
$1,260,416 38
.
00
2,458
2,047
46
455
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
14,876
6,746
Paid-up share
1,346
442
.
1,248
113
.
95
certifical ,es
Profits Distributed
Unmatured Shares
3%; second
First term,
term,
3%.
Matured and Paid-up Share
First term,
Proportion of profits retained on voluntary withdrawals,
none.
25% on
Certificates
23^%; second term, 2*4%.
series less
than 5 years old; after 5 years,
Rates and Averages on Loans
$2,994 each; average rate, 6.30%): 6 3 /io%, $1,200,430.
83 share loans (average, $222 each; average rate, 6.30%): 6 3 /io%, $18,470.
401 real
estate loans (average,
Total Expenses for Year
Salaries
Amount
paid for
Cost per $1,000 of assets
.
$3,000.00
2.38
Rent
$1,658.34
1.32
* Security Committee.
$38.40
Other
Expenses
$1,179.89
.03
.93
Advertising
Total
$5,876.63
4.66
P.D.
Part III.
8,
169
WELLESLEY CO-OPERATIVE BANK
WELLESLEY
(Other authorized locations for receipt of moneys: Old Colony Trust Company, 17 Court Street;
52 Temple Place, Boston)
Began business January
Incorporated January 24, 1911.
25, 1911
George N. Smith, President
Orrin E. Stevens, Treasurer
of Directors: H. P. Bell*, F. T. Donlon, P. J. Fitzpatrick, B. W. Guernsey, Louis Harvey, G. M. Hirst,
E. T. Madden*, G. M. Nay, H. L. Peabody, T. R. Pierce, G. N. Smith*, H. P. Smith*, Isaac Sprague,
Jr., M. C. Spring, Ct E. Stevens*.
Board
Regular meeting for receipt of moneys the second Wednesday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
Real
on
on
on
on
Dues capital
Profits capital
$3 711,775 00
45,985 00
5,495 00
2,230 00
90,970 91
5,565 59
142 28
.
matured share
certificates
paid-up share certificates
estate by foreclosure, etc.
....
Temporary expense account
Taxes paid
Due from trust companies and na
tional banks
Cash and cash items
$2,108,354
411,818
1,094,800
335,600
146
45,919
26,857
36,707
2,087
38,986
.
;
.
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Interest
Fines
239,618 31
339 89
.
Due on uncompleted
loans
Security committee
Other
liabilities
14
80
17
Membership
Issued during year
Holders of
532
....
Matured during year
February, May,
:
are borrowers
.
Unmatured shares
Matured share certificates
1,849
Shares in force
Shares now pledged
.....
—
Members
Members who
14,926
9,070
.
Forfeited during year
series issued in
50
98
97
$4,102,121 98
Serial Shares
New
00
02
00
00
360 00
484 40
$4,102,121 98
Withdrawn during year
1928
Liabilities
real estate
shares
10,
48,930
20,934
August, No-
Paid-up share
vember.
3,405
934
2,759
770
252
.
certificates
Profits Distributed
First term,
Unmatured Shares
13^%; second term, V/i%\
V4%;
1V2 %.
fourth term,
Matured Share
Certificates
1%%;
second term,
fourth term, 1%%.
First term,
iy8 %\
Paid-up Share
1%%;
third term,
Certificates
First term,
134%; second term, 134%;
fourth term, 134%.
1M%;
third term,
third term,
Proportion of profits retained on voluntary withdrawals, none.
t
Rates and Averages on Loans
810 real estate loans (average. $4,582 each; average rate, 6.50%): 63^%, $3,711,775.
147 share loans (average, $313 each; average rate, 6.50%): 6J^%, $45,985.
15 loans on matured share certificates: 63^ %, $5,495.
6 loans on paid-up share certificates: 63^%. $2,230.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
WESTFIELD
$15,980.74
3.90
— WESTFIELD
Incorporated December 13, 1881.
George E. Shepard,
Jr.,
Other
Expenses
$6,002.65
1.46
Advertising
1,835.55
$266.15
.45
.06
Total
$24,085.09
5.87
CO-OPERATIVE BANK
Began business December
President
19,
1881
James H. Clark, Treasurer
Board of Directors: R. T. Carrier, J. H. Clark*, C. H. Cooley, Jr., T. J. Cooley, H. S. Eaton, R. M. Fletcher,
F. N. Gibbons, J. O. McKean, H. S. Miller, A. G. Norton* O. E. Parks, G. E. Shepard, Jr.*, D. A. Snow,
F. E. Tibbals, C. B. Warren.
Regular meeting for receipt of moneys the third
* Security Committee.
Monday
of each
month.
P.D.
170
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
Furniture and fixtures
.
Overs and shorts
.
Due from
tional
00
00
00
00
60,000 00
13,999 00
8,000 00
,314,435
67,241
9,865
1,900
trust companies
4,572 10
439 38
150 00
86 94
and
banks
Part III.
Liabilities
Temporary expense account
Insurance and taxes paid
Personal accounts
8,
15, 1928
103,290 40
Dues
capital
Profits capital
Matured share
certificates
certificates
Paid-up share
Forfeited share account
943
.
Guaranty fund
Surplus
Fines
54,799
40,538
57,116
....
Interest
.
00
34
00
00
90
65
68
00
92
$1,232,085
207,513
757,400
213,400
.
.
1,081
Withdrawal profits
Due on uncompleted loans
Security committee
Due on foreclosure sale
Building income account
528 10
00
00
40
83
16,450
16
192
1,913
.
$2,583,978 82
$2,583,978 82
Membership
Serial Shares
Issued during year
Withdrawn during year
*
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New series issued in June, December
5,614
4,804
100
622
26,278
13,979
Members
Members who
2,216
— are borrowers
965
Unmatured shares
Matured share certificates
1,859
Holders
of:
Paid-up share
512
172
certificates
Profits Distributed
Unmatured Shares
First term, 25-8%; second term,
2%%.
Matured and Paid-up Share
First term,
2>3%; second term,
Proportion of profits retained on voluntary withdrawals,
25%
Certificates
A%.
2X
of last dividend.
Rates and Averages on Loans
838 real estate loans (average, $2,761 each; average rate, 6%): 6%, $2,314,435.
152 share loans (average, $442 each; average rate, 6%): 6%, $67,241.
19 loans on matured share certificates : 6%, $9,865.
4 loans on paid-up share certificates : 6%, $1,900.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
f8.284.92
,567.70
.99
3.21
$244.70
Other
Expenses
$2,519.48
.09
.97
Advertising
Total
$13,616.80
5.26
WEST SPRINGFIELD — THE WEST SPRINGFIELD CO-OPERATIVE BANK
Incorporated April
8,
1897.
May
Began business
12,
1897
Wilson B. Chandler, Treasurer
Willis J. Eldred, President
Board of Directors: M. L. Brown, C. M. Bryan, J. M. Carroll, W. B. Chandler, C. D. Clark*, C. H. Craig, Jr.,
H. W. Egan, W. J. Eldred, J. F. McCarthy*, W. H. Pierce, A. F. Royce* F. P. Sargent, F. O. Scott, E. L.
Stoughton, R. D. Toomey.
Regular meeting 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
Loans on paid-up share certificates
Unpaid interest
Unpaid fines
Insurance and taxes paid
Due from trust companies and national banks
Cash and cash items
....
10,
1928
Liabilities
,513,075
57,541
12,365
3,900
10,610
1,410
00
00
00
00
85
46
161 41
40,720 27
4,115 81
Dues capital
Profits capital
.
Matured share
Paid-up share
certificates
certificates
Forfeited share account
.
Guaranty fund
Surplus
Due on uncompleted loans
Due on foreclosure sale
Overs and shorts
Dividends on matured share
.
.
cates
cates
$2,643,899 80
* Security Committee.
00
80
00
00
690
43,776
60,895
9,062
4,611
59
66
47
39
50
96
52
certifi-
10,175 00
.
Dividends on paid-up share
$1,225,026
217,614
814,800
254,000
certifi-
3,187 50
$2,643,899 80
P.D.
8,
Part
171
III.
Membership
Serial Shares
Issued during year
Forfeited during year
6,808
4,735
107
Matured during year
970
Withdrawn during year
Shares in force
Shares now pledged
New
series issued in
February, May,
Members
Members who
—
.
.
Unmatured shares
Matured share certificates
.
.
.
Paid-up share
.
.
.
of:
2,386
1,182
....
.
Holders
28,506
15,887
August, No-
are borrowers
vember.
certificates
2,104
627
209
Profits Distributed
Unmatured Shares
/
First term, V>/\t>%\ second term, l 5/j 6 %; third term,
Hle%; fourth term, P/f6 %.
Matured and Paid-up Share
\\i%\ second term,
First term,
\
VA%-
\\i%\ fourth term,
Certificates
A%\
l
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
888 real estate loans (average, $2,999 each; average rate, 6%): 6%, $2,513,075.
600 share loans (average, $96 each; average rate, 6%): 6%, $57,541.
43 loans on matured share certificates ' 6%, $12,365.
12 loans on paid-up share certificates 6%, $3,900.
Total Expenses for Year
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
10,734.33
L,
542. 81
$177.38
.58
.07
4.06
Other
Expenses
Advertising
$2,460.34
.93
Total
$14,914.86
5.64
WEYMOUTH — THE NORTH WEYMOUTH CO-OPERATIVE BANK
(Other authorized locations for receipt of moneys: 729 Broad Street, East
Street,
Weymouth;
19 Lincoln
North Weymouth)
Incorporated September 26, 1910.
Began business October
1910
1,
Edwin R. Sampson,
George A. Walker, President
Treasurer
Board of Directors: A. H. Alden*, C. W. Burgess, J. W. Colgan, P. J. Derrig, S. G. Dunbar*, R. H. Haskins,
W. A. Hodges, J. P. Holbrook, W. J. Holbrook, W. B. Mathewson, P. T. Pearson, E. R. Sampson, E. L.
Saunders, F. H. Torrey, J. H. Tower, G. A. Walker, R. H. Whiting*, W. H. Wilde.
Regular meeting for receipt of moneys the
first
Saturday evening
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
Bonds and notes
Real estate by foreclosure, etc.
Fu/niture and fixtures
Overs and shorts
Due from trust companies and na
tional banks
Cash and cash items
.
6,
,231,000 00
20,113 00
348 00
1,000 00
7,423 15
800 00
4 05
.....
Dues capital
Profits capital
Matured share
Paid-up share
certificates
certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted
103,280 30
7,103 41
.
.
.
loans
Security committee
Dividends on matured share
cates
.
.
.
......
cates
3,606
2,017
63
Matured during year
1,354
13,815
6,774
series issued in
595 00
Membership
Forfeited during year
New
11,380 39
$1,371,071 91
Serial Shares
Shares in force
Shares now pledged
00
45
00
00
00
53
54
00
00
certifi-
$1,371,071 91
Issued during year
$707,215
171,796
427,000
23,800
141
11,375
3,580
14,150
38
certifi.
Dividends on paid-up share
Withdrawn during year
1928
Liabilities
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
1,255
433
.
1,099
292
.
18
certificates
May, November
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2%%;
First term,
X
23^%; second term, 2 A%.
term,
Matured Share
* Security
25%
on
Committee.
Certificates
second term,
Paid-up Share
Proportion of profits retained on voluntary withdrawals,
none.
3%.
series less
2%%.
Certificates
than 4 years old; after 4 years,
172
P.D.
8,
Part III,
Rates and Averages on Loans
393 real estate loans (average, $3,132 each; average rate, 6%): 6%, $1,231,000.
76 share loans (average, $265 each; average rate 6%): 6%, $20,113.
2 loans on matured share certificates: 6%, $348.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
£3,127.30
$370.26
2.28
.27
Other
Expenses
Advertising
$2.00
51,049.55
.77
Total
$4,549.11
3.32
WEYMOUTH — SOUTH SHORE CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: Office Weymouth Light and Power Company,
Jackson Square, East Weymouth)
Incorporated April
18, 1890.
May
Began business
5,
1890
Charles G. Sheppard, President
Charles G. Jordan, Treasurer
Board of Directors: G. E, Bicknell, E. R. Bond, J. H. Curran, Jacob Dexheimer, J. F. Dwyer, Thomas
gerald*, E. A. Hunt, C. G. Jordan, Joseph Kelley, W. P. Kelley, J. E. Ludden* W. W. Macaulay,
Mulligan, W. E. Pray, C. M. Price, C. G. Sheppard*, C. F. Vaughan, J. R. Walsh.
Regular meeting for receipt of moneys the
first
Monday
of
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
Due from trust companies and na
tional banks
Cash and cash items
1,
,431,315 00
26,491 00
3,035 00
Dues capital
Profits capital
800 00
Paid-up share
8,825 87
4,695 79
.
.
Matured share
certificates
certificates
Forfeited share account
Surplus
Bills payable for
.
21,752 22
10,452 58
.
Guaranty fund
17,281
12,261
20,000
13,225
.
.
.
money borrowed
Due on uncompleted loans
cates
certifi
5,864 95
....
cates
certifi
1,215 00
$1,507,367 46
$1,507,367 46
Membership
Serial Shares
Forfeited during year
....
Matured during year
Shares in force
Shares now pledged
New
series issued in
00
89
00
00
00
26
28
00
00
249 17
206 91
.
Dividends on paid-up share
.
1928
$730,682
163,973
446,800
95,600
8
.
.
Issued during year
E.
Liabilities
Personal accounts
Other liabilities
Dividends on matured share
Withdrawn during year
J.
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Fitz-
3,542
1,943
57
715
15,146
7,905
.....
Members
Members who
Holders
of:
— are borrowers
.
Unmatured shares
Matured share certificates
Paid-up share
1,393
534
1,211
319
64
.
certificates
February, May, August, No-
vember.
Profits Distributed
Unmatured Shares
First term,
1V2 %\
l%%\
second term,
fourth term,
\
A%.
l
A%;
l
third term,
X
Matured Share
Certificates
First term, V>4?,%\ second term, 1 546%; third term,
l 5/[6%; fourth term, V/&%.
Paid-up Share
First term,
1M%;
Certificates
\\i%\ second term, 134%;
fourth term,
1%%.
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
486 real estate loans (average, $2,945 each; average rate, 6%): 6%, $1,431,315.
90 share loans (average, $294 each; average rate, 6%): 6%, $26,491.
10 loans on matured share certificates: 6%, $3,035.
1 loan on paid-up share certificates: 6%, $800.
* Security
Committee.
third term,
P.D.8, Part
173
III.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
54,136.50
$634. 14
.42
2.74
Other
Expenses
Advertising
$2.00
Total
$1,176.67
.78
5,949.31
3.94
WEYMOUTH — SOUTH WEYMOUTH CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: 719 Broad Street, East
Incorporated February 28, 1889.
Began business March
9,
Weymouth)
1889
Everett N. Hollis, Treasurer
D. Frank Daly, President
Board of Directors: A. E. Barnes*, F. T. Barnes, G. L. Barnes*, R. P. Burrell, G. W. Conant, C. F. Daly, D. F.
Daly*, W. H. Holbrook, E. N. Hollis, J. E. Horace, L. K. Jones, Joseph Kelley, E. E. Merchant*, E. J.
Pitcher*, J. F. Reardon, J. H Stetson, F. I. Stoddard, Gordon Willis.
Regular meeting for receipt of moneys the second Saturday 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
Unpaid interest
Furniture and fixtures
Insurance and taxes paid
Due from trust companies and national banks
....
1928
13,
Liabilities
00
00
29
00
725 06
31 72
,979,880
23,685
23,711
4,500
40 92
....
....
Dues
Matured share certificates
Forfeited share account
.
Guaranty fund
Surplus
Bills payable for
19,702
20,000
23,229
82
58
126 18
money borrowed
Due on uncompleted
loans
Security committee
Personal accounts
.
Other liabilities
Dividends on matured share
cates
certifi
9,408 97
.
$2,032,573 99
$2,032,573 99
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
.
00
67
00
05
91
82
00
65
00
74
$950,936
223,805
750,800
519
33,904
capital
Profits capital
6,773
3,006
104
1,607
20,560
10,777
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
February, May, August, No-
2,042
678
.
1,662
534
.
Profits Distributed
vember.
Unmatured Shares
First term,
l}i%; second term, 1J^%;
third term,
13^%; fourth term, l}/£%.
Matured Share
iy8 %;
Proportion of profits retained on voluntary withdrawals,
none.
25%
Certificates
1%%;
second term, lYs%; third term,
fourth term, 1%%.
First term,
on
series less
than 8 years old; after 8 years,
Rates and Averages on Loans
627 real estate loans (average, $3,158 each; average rate, 6.02%): 6%, $1,883,380; 6J^%, $96,500.
62 share loans (average, $382 each; average rate, 6%): 6%, $23,685.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$5,281.38
2.60
$459.32
1.55
.23
10
* Security Committee.
Advertising
Other
Expenses
$692.37
.34
Total
$6,637.62
3.27
P.D.
174
WHITMAN — THE WHITMAN CO-OPERATIVE BANK
8,
Part
III.
(Other authorized location for receipt of moneys: American Trust Company, 50 State Street,
Boston)
Incorporated
March
6,
Began business March
1889.
1889
11,
George D. Soule, President
Harrison D. Soule, Treasurer
Carleton E. Staples, Assistant Treasurer
Board of Directors: W. F. Alden, William
A. F. Curtis, G. A. Dorr*,
I.
Bliss, B. F.
O. Estes*,
W.
Bowker, W. H. Cook, E. P. Copeland, F. E. Cummings,
M. F. Greaney, J. B. Nye, G. D. Soule* H. D.
L. Fairbanks,
Soule.
Regular meeting
for receipt of
moneys the second Monday
month.
of each
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Loans
Loans
Loans
Loans
on
on
on
on
Common
real estate
shares
matured share certificates
paid-up share certificates
form mortgages
Real estate by foreclosure,
,386,500 00
84,530 00
13,430 00
Dues capital
Profits capital
175 00
39,184 60
108,965 12
19,537 64
2,233 71
209 55
Paid-up share
etc.
Furniture and fixtures
Insurance and taxes paid
Personal accounts
.
Due from trust companies and
tional banks
Cash and cash items
8,
1928
Liabilities
m
$3,927,784
846,423
2,368,200
138,400
305,049
101,881
36,518
9,691
.
Matured share
certificates
certificates
Matured share account
Guaranty fund
.
87
87
75
235 60
7,626 23
Surplus
Due on uncompleted
Personal accounts
loans
.
Other liabilities
Dividends on matured share
114,487 77
6,850 93
00
88
00
00
37
certifi-
32,562 75
cates
Dividends on paid-up share
certifi
1,730 00
cates
$7,776,104 32
$7,776,104 32
Membership
Serial Shares
Withdrawn during year
Members
Members who
Forfeited during year
Holders
Issued during year
29,059
15,525
1,207
Matured during year
8,271
Shares in force
89,808
Shares now pledged
39,420
New series issued in Fe bruary, May, August, No-
of:
7,747
2,451
— are borrowers
Unmatured shares
Matured share certificates
Paid-up share
vember.
6,336
1,726
certificates
Profits Distributed
Unmatured Shares
A%;
First term, \ X
1H%;
second term,
fourth term,
l
A%.
Matured Share
1H%;
Paid-up Share
First term,
1M%;
1%%;
third term,
Certificates
/i%\ second term,
\x
fourth term,
third term,
Certificates
\%%\
second term,
fourth term, \%%.
First term,
1A%\
l
1%%.
1M%;
third term,
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
2,852 real estate loans (average, $3,141 each; average rate, 6.30%): 6 3 /io%, $7,386,500.
264 share loans (average, $320 each; average rate, 6.30%): 6 3 /w%, $84,530.
27 loans on matured share certificates: 6 s /io%, $13,430.
1 loan on paid-up share certificates : 6 3 /ic%, $175.
Total Expenses for Year
Rent
Salaries
Amount
$15,978.56
2.05
paid for
Cost per $1,000 of assets
.
$1,700.00
.22
Advertising
$440.23
.06
Other
Expenses
$7,667.59
.99
Total
$25,786.38
3.32
WINCHENDON— WINCHENDON CO-OPERATIVE BANK
Incorporated September
Silas A.
Greenwood, President
9, 1891.
Began business September
*
16,
1891
Austin R. Paull,
Jr.,
Treasurer
Board of Directors: Perley Aldrich, R. P. Bartlett, H. O. Bateman, Robert Callahan*, L. W. Davis, H. H.
Elliott, R. B. Greenwood*, J. G. Henry, W. E. Holden, J. B. Humphrey, Alexander Orr, W. H. Prichard,
Honore Richer, A. M. Royse, T. C. Sparhawk*, A. S. Washburn.
Regular meeting for receipt of moneys the third Wednesday of each month.
* Security
Committee.
P.D.
8,
175
Part III.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
17,
Liabilities
Loans on real estate
Loans on shares
Furniture and fixtures
$520,240 00
12,971 00
67 69
301 63
Temporary expense account
Due from
trust companies and
banks
Cash and cash items
Dues capital
Profits capital
Matured share
certificates
share certificates
Paid-up
Surplus
Interest
209 55
904 00
.
Due on uncompleted
loans
$555,876 66
$555,876 66
Membership
Serial Shares
1,355
992
.
2
131
6,640
3,197
....
New
series issued in
10
00
00
00
09
00
92
61
10,388
8,846
5,754
Guaranty fund
Fines
00
$303,436
51,877
127,400
47,000
.
Forfeited share account
21,589 22
707 12
tional
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
1928
Members
Members who
Holders
of:
—
750
350
are borrowers
Unmatured shares
Matured share certificates
Paid-up share
656
106
53
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares and Matured and Paid-up Share
Certificates
First term,
1M%;
1J4%; second term, 134%;
fourth term,
third term,
1H%-
Proportion of profits retained on voluntary withdrawals, none.
Rates and Averages on Loans
263 real estate loans (average, $1,978 each; average rate, 5.97%): 5J^%, $16,630; 6%, $503,610.
87 share loans (average, $149 each; average rate, 6%): 6%, $12,971.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
WINCHESTER
Incorporated
John
Salaries
Rent
$1,590.00
2.86
$139 40
25
— WINCHESTER
November
13, 1893.
$100 00
Other
Expenses
$618.20
18
1.11
Advertising
Total
$2,447. 60
4.
40
CO-OPERATIVE BANK
Began business November
13,
1893
Ernest R. Eustis, Treasurer
Challis, President
of Directors: W. T. Carleton, John Challis, E-. R. Eustis, Vincent Farnsworth, G. A. Fernald, J. J.
Fitzgerald*, C. A. Gleason* D. W. Hawes, A. H. Hildreth, James Hinds, Raymond Merrill, C. W. Nash,
Board
S.
E.
Newman,
S. S.
Symmes*.
Regular meeting 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
Bonds and notes
Real estate by foreclosure, etc.
Certificate of indebtedness
Due from trust companies
tional banks
Cash and cash items
1,
1928
Liabilities
,332,700
65,445
3,260
1,800
52,148
2,630
50,000
00
00
00
00
44
59
00
and na
129,303 84
108 26
Dues
.....
....
capital
Profits capital
Matured share
certificates
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Due on uncompleted loans
Dividends on matured share
....
.....
.
cates
.....
Dividends on paid-up share
cates
.
.
certifi-
13,450 00
certifi-
.
.
5,380 00
$2,637,396 13
$2,637,396 13
* Security
.
00
03
00
00
365 47
62,811 44
60,729 19
11,000 00
$1,441,567
288,893
538,000
215,200
Committee.
176
P.D.
Issued during year
Part III.
Members
Members who
3,937
2,726
53
671
26,751
13,666
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
8,
Membership
Serial Shares
1,979
— are borrowers
693
Unmatured shares
Matured share certificates
1,704
Holders
of:
Paid-up share
374
167
certificates
May, November
series issued in
Profits Distributed
Unmatured Shares
2%%-\ second term,
First term,
2%%.
Matured and Paid-up Share
Certificates
23^%; second term, 23^%.
First term,
Proportion of profits retained on voluntary withdrawals, 20% on series
none.
2^
than
less
years old; after
2H years,
Rates and Averages on Loans
578 real estate loans (average, $4,036 each; average rate, 5.84%): 53^%, $736,050; 6%, $1,596,650.
106 share loans (average, $617 each; average rate, 5.80%): 5^%, $24,945; 6%, $40,500.
7 loans on matured share certificates: 53^%, $3,025; 6%, $235.
2 loans on paid-up share certificates: 53-3%, $1,800.
Total Expenses for Year
Amount paid
Cost
for
per $1,000 of assets
.
Salaries
Rent
$6,690. 58
$806.67
$702.25
2.54
.30
.27
Other
Expenses
Advertising
Total
$1,370.66
.52
$9,570. 16
3.63
WINTHROP — THE WINTHROP CO-OPERATIVE BANK
Began business March
Incorporated February 15, 1907.
13,
1907
Almon E. Whittemore,
Allen E. Newton, President
Treasurer
Gertrude A. Manning, Assistant Treasurer
Board of Directors: H. W. Aiken, F. G. Curtis, E. E. Dawson, Augustus De Cort, Jeremiah Green, L. E. Griffin,
A. F. Henry, Henry Hutchinson, H. A. Kelly, Gerard La Centra, H. M. McNeil, W. G. McNeil*, A. E.
Newton, C. W. O'Keefe, E. A. Thomas*, G. W. Walker, A. E. Whittemore*.
Regular meeting 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
Bonds and notes
Banking house
certificates
....
Temporary expense account
Other assets
Overs and shorts
Due from trust companies and na
tional banks
,156,750
111,950
4,950
62,000
19,000
2,139
1,035
00
00
00
00
00
1
00
.
....
Dues capital
Profits capital
Matured share
Paid-up share
Surplus
....
....
.....
Matured during year
Shares in force
Shares now pledged
New
seriee issued in
69,558
50,592
31,359
Interest
688
Withdrawal profits
Due on uncompleted loans
Security committee
223
1
32,907
428
717
liabilities
00
07
00
00
98
09
28
80
75
50
06
36
00
27
$3,489,841 16
i'
Membership
Serial Shares
Forfeited during year
623
.
Fines
Transfer fees
$3,489,841 16
....
....
....
....
....
$1,894,535
368,406
849,000
190,800
Guaranty fund
Other
Issued during year
.
certificates
certificates
Forfeited share account
41
53
131,978 55
36 67
Cash and cash items
Withdrawn during year
10, 1928
Liabilities
6,945
5,946
11
Members
Members who
2,713
.
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
589
37,884
19,478
Paid-up share
934
.
2,323
606
142
.
certificates
March, June, September, De-
cember.
Profits Distributed
Unmatured Shares
First term, \
1%%;
A%;
Z
second term,
fourth term,
1%%.
Matured Share
1%%;
third term,
Certificates
First term, l 5/f6 %; second term, l 5/f6 %; third term,
134%; fourth term, 134%.
Paid-up Share
First term,
Proportion of profits
134%;
retained on voluntary withdrawals, 10% on
none.
* Security Committee.
Certificates
134%; second term, 134%;
fourth term,
series less
third term,
l%%.
than 5 years old; after 5 years,
P.D.
8,
177
Part III.
Rates and Averages on Loans
756 real estate loans (average, $4,176 each; average rate, 6%): 6%, $3,156,750.
170 share loans (average, $659 each; average rate, 6%): 6%, $111,950.
8 loans on matured share
certificates :
6%,
$4,950.
Total Expenses for Year
$1,306.26
$803.65
Other
Expenses
$1,807.06
.37
.23
.52
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
$10,219.37
2.93
.
Advertising
Total
$14,136.34
4.05
WOBURN — WOBURN CO-OPERATIVE BANK
(Other authorized location for receipt of moneys: McLaughlin and Dennison, Wilmington)
Incorporated February 21, 1887.
Began business March
10,
1887
Redmond
Frank W. Greydon, President
E. Walsh, Treasurer
Board of Directors: J. H. Bates, F. J. Brown*, L. B. Buchanan, J. C. Buck, T. E. Caulfield, J. F. Deland*,
H. B. Dow, F. W. Greydon* W. H. Keleher, E. N. Leighton, A. H. Linscott* J. G. Maguire, F. H. Murray, E. M. Neilson, J. H. Parker, H. P. Peterson, W. A. Prior, R. E. Walsh*.
Regular meeting for receipt of moneys the second Thursday of each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
Personal accounts
00
00
00
00
73
70
00
485 09
8 01
$5,422,200
61,020
11,180
5,010
16,778
79,049
2,013
.
.
Due from trust companies and
tional banks
Cash and cash items
m
76,506 08
1,508 29
Dues
00
64
00
00
24
98
78
93
705 68
capital
Profits capital
$2,891,861
637,205
1,291,600
540,800
127,923
122,760
31,067
1,195
.
Matured share
certificates
Paid-up share certificates
Guaranty fund
Surplus
....
Interest
Fines
Withdrawal profits
Due on uncompleted loans
Security committee
Other liabilities
29,490 13
125 02
1,023 50
$5,675,758 90
$5,675,758 90
Membership
Serial Shares
Issued during year
....
....
....
....
14,135
8,022
Forfeited during year
157
Matured during year
2,808
Shares in force
.
60,534
.
.
Shares now pledged
29,367
New series issued in January, April, July, October.
Withdrawn during year
.
.
1928
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
Temporary expense account
Insurance and taxes paid
11,
.
.
.
Members
Members who
Holders
of:
6,199
2,058
— are borrowers
Unmatured shares
Matured share certificates
.
Paid-up share
5,070
932
397
certificates
Profits Distributed
First term,
Unmatured Shares
1}4%\ second term, \Yi%\
13^%; fourth term,
Matured and Paid-up Share
First term,
1H%;
Proportion of profits retained on voluntary withdrawals,
none.
20%
on
1%%;
second term,
fourth term,
series less
third term,
1H%.
1%%.
Certificates
1M%;
third term,
than 5 years old; after 5 years,
Rates and Averages on Loans
1,832 real estate loans (average, $2,960 each; average rate, 6.30%): 6 3 /io%, $5,422,200.
203 share loans (average, $301 each; average rate, 6.30%): 6 3 /io%, $61,020.
18 loans on matured share certificates: 63 /io%, $11,180.
5 loans on paid-up share certificates: 63 /io%, $5,010.
Total Expenses for Year
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
2,157.63
2.14
Rent
$3,639.00
.64
* Security Committee.
Advertising
$460.28
.08
Other
Expenses
$5,502.12
.97
Total
$21,759.03
3.83
•
P.D.
178
WORCESTER — EQUITY CO-OPERATIVE BANK
Incorporated February
George
W.
9,
1887.
Began business March
17,
R.
Part
III.
1887
Raymond
Brooks, President
8,
P. Harold, Treasurer
Huntington, Assistant Treasurer
S.
J. Bean, G. W. Brooks*, Henry Duckworth, Albert Erickson, R. P. Harold, J. J. HigUrgel Jacques, J. J. Kittredge, James Montgomery, H. A. Mower*, William Tolley, J. H. Turner,
C. C. Winn, W. A. Winn*, E. M. Woodward.
Board of Directors: A.
gins,
Regular meeting for receipt
of
moneys the second Tuesday
of
each month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
,095,400 00
90,070 00
1,570 00
30,496 25
4,699 13
1,483 36
43,600 00
2 33
Temporary expense account
Insurance and taxes paid
.
Due from
.
.
.
trust companies
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
Suspense
Overs and shorts
9,
and
ni
tional banks
Cash and cash items
44,880 26
1,000 00
Dues
capital
Profits capital
$2,135,817
425,331
440,400
85
77,896
81,301
50,110
1,883
4
1,399
75,000
12,470
.
Matured share
Forfeited share account
.
Guaranty fund
Surplus
Interest
Fines
Transfer fees
Withdrawal
profits
payable for money borrowed
Due on uncompleted loans
Bills
....
Security committee
Suspense
Due on foreclosure sales
$3,313,201 33
$3,313,201 33
Membership
Serial Shares
Issued during year
Withdrawn during year
Forfeited during year
Matured during year
Shares in force
Shares now pledged
New
series issued in
00
29
00
00
70
72
83
47
50
56
00
00
282 00
10,872 06
347 20
certificates
10,209
7,048
211
1,795
46,231
17,966
....
Members
Members who
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
February August.
3,713
1,164
.
3,560
355
.
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
23^%; second term,
3%.
term,
Matured Share
Certificates
Proportion of profits retained on voluntary withdrawals, 50% of last dividend on series
after 5 years, none.
2H%less
than 5 years old;
Rates and Averages on Loans
965 real estate loans (average, $3,208 each; average rate, 5.99%): 5%%, $40,650; 6%, $3,054,750.
836 share loans (average, $268 each; average rate, 6%): 6%, $90,070.
5 loans on matured share
certificates
:
6%,
$1,570.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
$7,557.55
2.28
$3,534.00
1.07
Advertising
$889 15
27
Other
Expenses
$1,828.59
.55
Total
$13,809. 29
4. 17
WORCESTER — HOME CO-OPERATIVE BANK
Incorporated June 10, 1882.
Jeremiah
J.
Began business June
16,
1882
Raymond
Higgins, President
Raymond
S.
P. Harold, Treasurer
Huntington, Assistant Treasurer
Board of Directors: A. J. Bean, A. L. Bemis, G. W. Brooks*, Earle Brown, Albert Erickson, R. P. Harold,
H. A. Hawkins, J. J. Higgins, Urgel Jacques, James Montgomery, H. A. Mower*, J. H. Turner, C. C.
Winn, W. A. Winn*, E. M. Woodward.
Regular meeting for receipt of moneys the third Tuesday of each month.
* Security Committee.
;
P.D.
8,
Part lit.
179
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
$2,756,250
72,240
2,350
54,338
6,315
1,649
9,500
2
.
Temporary expense account
Insurance and taxes paid
....
Suspense
Overs and shorts
Due from
.
trust companies
1928
Liabilities
Loans on real estate
Loans on shares
Loans on matured share certificates
Real estate by foreclosure, etc.
.
16,
Dues capital
Profits capital
00
00
00
51
Forfeited share account
Guaranty fund
51
Surplus
00
33
Interest
34 00
48
78
65
.
72,172
76,059
74,628
2,893
Fines
Transfer fees
18
5 50
1,525 48
.
Withdrawal
44,338 47
1,000 00
.
certificates
85
and na
tional banks
Cash and cash items
$1,971,132 00
349,578 47
346,400 00
.
Matured share
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Personal accounts
Suspense
40,000 00
8,250 00
131 50
505 00
1,725 46
2,925 42
17 75
Bills
....
.
Expense on furniture and
Due on foreclosure sales
fixtures
$2,947,984 67
$2,947,984 67
Membership
Serial Shares
Issued during year
9,870
6,957
Withdrawn during year
Holders
336
835
814
Forfeited during year
Retired during year
Matured during year
of:
— are borrowers
Unmatured shares
Matured share certificates
43,194
16,400
Shares in force
Shares now pledged
New
....
Members
Members who
series issued in June,
3,457
1,077
.
3,295
280
.
Profits Distributed
December
Unmatured Shares
First term,
3%; second
First term,
23^%; second term,
term,
Matured Share
Proportion of profits retained on voluntary withdrawals,
50%
of last dividend
on
3%.
Certificates
2H%-
series less
than 5 years old
after 5 years, none.
Rates and Averages on Loans
867 real estate loans (average, $3,179 each; average rate, 5.99%): 5V£%, $15,200; 6%, $2,741,050.
329 share loans (average, $219 each; average rate, 6%): 6%, $72,240.
4 loans on matured share certificates: 6%, $2,350.
Total Expenses for Year
Salaries
Amount paid
Cost
7,647.55
for
per $1,000 of assets
.
2.59
Rent
Advertising
$956.30
$3,534.00
1.20
.32
Other
Expenses
$1,912.41
.65
Total
$14,050.26
4.76
WORCESTER — THE INDEPENDENT CO-OPERATIVE BANK
Incorporated
May
8, 1911.
May
Began business
31, 1911
Andrew W. Sigourney, Treasurer
Wallace T. Morley, President
Board of Directors: W. H. Balcom, C.
Bavis, H. J. Clarkson, M. E. Costello, M. W. Donahue, H. J. Greene,
G. W. Kalat, W. T. Morley, A. A. Parker, J. J. Power*, A. F. Richardson, H. C. Robinson*, H. A. Rousseau, D. A. Scott, A. W. Sigourney*.
S.
Regular meeting for receipt of moneys the last Tuesday 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
Real estate by foreclosure, etc.
Due from trust companies and na
tional banks
Cash and cash items
30, 1928
Liabilities
$783,050 00
25,545 00
6,075 00
925 00
3,010 76
Dues capital
Profits capital
.
Matured share
Paid-up
certificates
share certificates
....
Forfeited share account
Guaranty fund
54,624 10
4,033 60
.
Surplus
.
.
Due on uncompleted
loans
Security committee
Dividends on matured share
cates
cates
31
00
00
45
98
38
00
00
.....
3,284 34
certifi-
1,055 00
$877,263 46
$877,263 46
* Security
00
certifi-
.
Dividends on paid-up share
$440,920
74,037
250,200
84,400
27
9,112
11,533
2,600
93
Committee.
P.D.
180
Issued during year
2,731
1,989
Withdrawn during year
Forfeited during year
146
Matured during year
453
Shares in force
Shares now pledged
New
series issued in
8,
Part III.
Membership
Serial Shares
11,093
4,806
February, May, August,
Members
Members who
1,050
— are borrowers
282
Unmatured shares
Matured share certificates
887
177
56
Holders
of:
Paid-up share
certificates
No
vember.
Profits Distributed
Unmatured Shares
First term,
W%%\
1%%;
second term,
fourth term,
1-
Matured Share
1M%5
third term,
Certificates
First term, l 5/f6 %; second term,
l 5/ie%; fourth term, Wk%.
First term,
A%;
\ %
'
l &/(6
%;
third term,
Paid-up Share Certificates
second term, 1}4%', third term,
1M%;
fourth term,
Proportion of profits retained on voluntary withdrawals,
50%
1%%.
of last dividend.
Rates and Averages on Loans
$3,711 each; average rate, 6.09%): 6%, $630,900;
71 share loans (average, $360 each; average rate, 6%): 6%, $25,545.
9 loans on matured share certificates: 6%, $6,075.
2 loans on paid-up share certificates : 6%, $925.
211 real
estate loans (average,
6^%,
$152,150.
Total Expenses for Year
Amount
paid for
Cost per $1,000 of assets
.
Salaries
Rent
Advertising
$2,336.36
2.66
$1,236.62
1.40
$235.49
Other
Expenses
$733.47
.27
.84
Total
$4,541.94
5.17
WORCESTER — WORCESTER CO-OPERATIVE BANK
Incorporated October
19, 1877.
Began business October
19,
1877
Raymond
Willard A. Winn, President
Raymond
S.
P. Harold, Treasurer
Huntington, Assistant Treasurer
J. H. Baker, A. J. Bean, A. L. Bemis, G. W. Brooks*, Earle Brown, C. E.
Cather, R. P. Harold, J. J. Higgins, Urgel Jacques, H. A. Mower*, J. H. Turner, C. C. Winn, W. A.
Winn*, E. M. Woodward.
Board of Directors : D. E. Armitage,
Regular meeting for receipt of moneys the fourth 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
Common form mortgages
Real estate by foreclosure, etc.
Banking house
Temporary expense account
Insurance and taxes paid
.
.
....
Suspense
Overs and shorts
Due from
trust companies
banks
Cash and cash items
tional
and
23, 1928
m
,090,900
80,570
3,740
11,000
47,733
86,000
1,865
2,167
42,716
2
00
00
00
00
95
00
85
78
83
34
Dues
capital
Profits capital
.
Matured share
certificates
Forfeited share account
Surplus
Interest
Fines
Transfer fees
626 88
50
.
Withdrawal
1,000 00
profits
payable for money borrowed
Due on uncompleted loans
Security committee
Personal accounts
.
Suspense
Building income account
Due on foreclosure sales
.
$3,401,923 32
* Security Committee.
366 40
74,923 76
76,316 63
2,352 22
Bills
34,226 57
.
Guaranty fund
$2,240,342 00
464,835 19
467,800 00
.
1,031 10
25,000 00
20,957 36
435 25
89
42
92
80
3,069
11,933
10,631
1,300
$3,401,923 32
P.D.
8,
Part III.
181
Membership
Serial Shares
Issued during year
Forfeited during year
355
Matured during year
Shares in force
Shares now pledged
1,655
49,210
17,971
New
Members
Members who
11,321
7,426
Withdrawn during year
.
Holders
of:
....
.
— are borrowers
Unmatured shares
Matured share certificates
.
series issued in April, October.
.
3,841
1,147
.
.
3,711
.
.
386
.
.
.
.
Profits Distributed
Unmatured Shares
First term,
3%; second
First term,
2^%;
term,
Matured Share
Proportion of profits retained on voluntary withdrawals,
50%
3%.
Certificates
2^%.
second term,
of last dividend
on
series less
than 5 years old;
after 5 years, none.
Rates and Averages on Loans
947 real estate loans (average, $3,264 each; average rate, 5.99%): 53/£%, $30,700; 6%, $3,060,200.
235 share loans (average, $343 each; average rate, 6%): 6%, $80,570.
10 loans on matured share certificates : 6%, $3,740.
Total Expenses for Year
$7,452.54
5,534.01
$967.20
Other
Expenses
$2,066.85
2.19
1.04
.28
.61
Rent
Salaries
Amount
paid for
Cost per $1,000 of assets
.
Advertising
Total
$14,020.60
4.12
WRENTHAM — WRENTHAM CO-OPERATIVE BANK
Began business March
Incorporated February 26, 1901.
Oliver
J.
13,
1901
Charles B. McDougald, Treasurer
Goodspeed, President
Board of Directors: F. L. Blatchford, E. A. Dart*, D. S. Farrington*, G. W. Gilmore, O. J. Goodspeed, L. C.
Jenness, C. B. McDougald, W. H. Stewart, A. H. Thomas, J. A. Warren, G. P. Willard*, C. C. Winter.
Regular meeting 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
Temporary expense account
Insurance and taxes paid
Due from trust companies and national banks
.
10, 1928
Liabilities
.
.
.
.
.
.
....
Dues capital
Profits capital
$229,350 00
3,340 00
117 24
70 26
Matured share
Paid-up share
$161,387
33,959
26,800
14,000
126
4,200
2,990
certificates
certificates
Forfeited share account
.
Guaranty fund
12,873 41
Surplus
....
.....
.
2,031 13
Interest
Fines
53 60
60
200 00
1 67
Withdrawal profits
Due on uncompleted loans
Interest on paid-up share certificates
$245,750 91
$245,750 91
Membership
Serial Shares
Issued during year
Forfeited during year
13
Matured during year
98
Shares in force
Shares now pledged
New
series issued in
....
Members
Members who
576
318
Withdrawn during year
00
82
00
00
08
73
28
Holders
of:
— are borrowers
Unmatured shares
Matured share certificates
3,116
1,265
Paid-up share
289
99
.
270
30
14
.
certificates
March, September.
Profits Distributed
Unmatured Shares
First term,
3%; second
term,
3%.
Matured and Paid-up Share
A%\
First term, 2 X
second term,
Proportion of profits retained on voluntary withdrawals, 25%.
92
Certificates
2^%.
Rates and Averages on Loans
average rate, 6%): 6%, $229,350.
$477 each; average rate, 6%): 6%, $3,340.
Total Expenses for Year
real estate loans (average, $2,493 each;
7 share loans (average,
Salaries
Amount paid
Cost
for
per $1,000 of assets
.
Rent
$399.96
1.62
* Security
Committee.
Advertising
$6.00
.02
Other
Expenses
Total
$242. 12
.98
$648.08
2.62
P.D.
.82
YARMOUTH
Part III.
THE CAPE COD CO-OPERATIVE BANK
Incorporated July
Howard
8,
19,
Began business August
1921
4,
1921
Gorham
Hinckley, President
Pulsifer, Treasurer
ioard of Directors: T. H. Arden, Jr., C. R. Bassett, L. B. Boston, T. S. Crowell*. T. T. Hallet*, R. H. Hefler*,
F. H. Hinckley* R. M. Kelley*. R. H. Nye, Gorham Pulsifer, B. F. Sears, C. W. Swift, F. C. Swift,
P. M. Swift, T. W. Swift.
Regular meeting for receipt of moneys the
Thursday
first
of each
month.
STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS, OCTOBER
Assets
.
1928
Liabilities
....
....
...
,oans on real estate
joans on shares
nsurance and taxes paid
4,
.
.
.
.
Due from trust companies and national banks
....
....
....
Dues capital
Profits capital
$280,800 00
6,190 00
160 15
$215,570
40,242
29,600
232
Paid-up share certificates
Forfeited share account
Guaranty fund
Surplus
Bills payable for money borrowed
Due on uncompleted loans
Dividends, paid-up share certifi
.
13,771 49
^ash and cash items
28 75
cates
2,712
4,023
6,000
2,200
370 00
$300,950 39
$300,950 39
Membership
Serial Shares
....
....
.....
....
ssued during year
Withdrawn during year
Shares in force
Shares now pledged
*Jew series issued in February,
00
93
00
00
02
44
00
00
....
—
Members
Members who
1,161
513
4,885
Holders
of:
are borrowers
451
136
.
Unmatured shares
1,636
May, August, No-
Paid-up share
430
28
certificates
vember.
Profits Distributed
Unmatured Shares
1}4%; second term, 1jHj%;
fourth term, IV2 %.
First term,
l
A%\
x
Paid-up Share
1M%;
'roportion of profits retained on voluntary withdrawals,
none.
25%
on
Certificates
134%; second term,
fourth term, l}£%-
First term,
series less
third term,
1M%;
third term,
than 5 years old; after 5 years,
Rates and Averages on Loans
10 real estate loans (average, $2,553 each; average rate, 7%): 7%, $280,800.
16 share loans (average, $387 each; average rate, 7%): 7%, $6,190.
Total Expenses for Year
Salaries
Amount paid
for
I!ost per $1,000 of assets
.
Rent
Advertising
$1,070,00
$35.00
3.55
.11
Other
Expenses
$296.92
Total
51,401.92
.98
4.64
STATEMENTS OF CERTAIN SAVINGS AND LOAN
ASSOCIATIONS
Subject to the Supervision of the Commissioner of Banks under
the Provisions of General Laws, Chapter 93, Section 34
ATTLEBORO
— ATTLEBOROUGH
Established January, 1876.
SAVINGS AND LOAN ASSOCIATION
Began business January, 1876
Caleb Slade, Treasurer and Secretary
larvey E. Clap, President
>
I. Babcock, A. M. Briggs, M. L. Carter, H. E. Clap*, A. M. Dunhamf, Joseph Finberg, A. A.
French*t, C. S. Holden, R. M. Hortonf, A. S. Ingraham, H. P. Kent*, W. L. King*, W. J. Luther, H. K;
Richardsonf, Oscar Wolfenden.
Directors: F.
Regular monthly meeting, fixed by by-laws, third
* Security Committee.
Monday
of each
month.
P.D.
8,
183
Part III.
STATEMENT OF CONDITION, OCTOBER
31, 1928
Assets
Liabilities
....
Loans secured by mortgages upon
real estate
1,017,273 94
Loans secured by pledge of shares
Loans secured by other collateral
Real estate owned by the association
Real estate sold, deeds not passed
Real estate by foreclosure
Unpaid dues
67
90
25
00
13
04
53
83
966 23
6,730 00
.
Temporary expense
Real estate expense
Taxes
Deposited in banks
Cash in hands of treasurer
.
Bank
stock
00
00
138,450
13,800
140,713
7,369
971
2,880
4,121
1,358
1,445
22,647
.
$1,954, 000 00
3,908 matured shares at $500 each
163 shares, series 40 at $483.57 each
254 shares, series 41 at $435.94 each
254 shares, series 42 at $390.58 each
146 shares, series 43 at $347.38 each
245 shares, series 44 at $306.27 each
470 shares, series 45 at $267.22 each
571 shares, series 46 at $230.18 each
139 shares, series 47 at $212.39 each
292 shares, series 48 at $195.08 each
143 shares, series 49 at $178.23 each
484 shares, series 50 at $161.83 each
160 shares, series 51 at $145.87 each
360 shares, series 52 at $130.34 each
276 shares, series 53 at $115.23 each
429 shares, series 54 at $100.52 each
325 shares, series 55 at $86.20 each
360 shares, series 56 at $72.27 each
180 shares, series 57 at $58.71 each
753 shares, series 58 at $45.51 each
230 shares, series 59 at $32.67 each
1,090 shares, series 60 at $20.17 each
292 shares, series 61 at $8.00 each
Dues paid in advance
Due on construction loans
Interest
Rents
78 821
110 728
99 207
50 717
75 036.
125 ,593
131 ,432
29, 522
56 ,963
25 486
78 ,325
23 ,339
46 ,922
91
76
32
48
15
40
78
21
36
89
72
20
40
48
31 ,803
43 ,123 08
28 ,015 00
26 ,017 20
10 ,567 80
34 ,269 03
7 ,514
21 ,985
2 ,336
2 ,566
8 ,670
57 ,477
2 ,359
141 ,643
.
Guaranty fund
20
44 ,138
Fines
Surplus fund
Reserve for contingencies
Rent from safe deposit boxes
.
,592
107
Suspense
,424
$3,358,727 52
10
30
00
00
00
05
00
64
66
47
36
00
77
$3,358,727 52
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 shares 168)
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
......
1,184
255
698
105
1,602
.
.
$120,000.00
1,020
.
5%,
.
5V2 %, 6%
5V2 %
$11,170.90
1,414
314
237
.
$2.00
NORTON — NORTON SAVINGS AND LOAN ASSOCIATION
Established 1890.
Austin
M.
Sweet, President
Began business 1890
George B. Clements, Treasurer and Secretary
Directors: J. G. Adair, G. B. Clements, B. F. Fales*, J. A. Freemanf, C. H. Makepeace*t. G. H. O'Brien*,
G. F. Sawyer, A. T. Sturdy, A. M. Sweet, A. G. Walker, A. S. Watson, W. C. S. Wood.
Regular monthly meeting, fixed by by-laws, for receipt of moneys the third
*
Loan
or Building Committee.
Monday
of each
t Auditors.
month.
184
P.D.
STATEMENT OF CONDITION, OCTOBER
Assets
.
.
'
.
.
.
Loans secured by pledge of shares
Real estate owned by the association
Real estate sold by agreement
Temporary expense
Unpaid dues
.
.....
...
.
.
-.
.
Real estate expense
Suspense
Deposited in banks
Cash in hands of treasurer
.
Part III.
Liabilities
Loans secured by mortgages upon
real estate
8,
31, 1928
.
.
.
.
$273,346 80
26,339 03
5,990 33
2,957 62
498 44
558 00
82 35
500 00
8,317 24
352 29
421 matured shares at $300 each
29 shares, series 30 at $291.81 each
89 shares, series 31 at $255.39 each
71 shares, series 32 at $220.70 each
36 shares, series 33 at $187.67 each
105 shares, series 34 at $156.21 each
231 shares, series 35 at $126.25 each
141 shares, series 36 at $97.71 each
109 shares, series 37 at $70.53 each
107 shares, series 38 at $44.65 each
98 shares, series 39 at $20.00 each
Dues paid in advance
Interest account
Bills payable
Guaranty fund and surplus
Rents
,
12
6,756
16,402
29,163
13,777
7,687
4,777
1,960
05
75
11
77
55
00
448 00
8,539 01
20,000 00
23,818 03
300 12
12,100 69
50 00
....
payments
Committee fees
Partial
$126,300 00
8,462 49
22,729 71
15,669 70
,
.
$318,942 10
$318,942 10
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
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 annually January first.
Required monthly dues upon each share
205
50
96
......
54
244
$6,000.00
190
....
.
6%,
6H%
6%
6%
$1,150.00
93
94
.
PLAINVILLE
— PLAINVILLE
SAVINGS AND LOAN ASSOCIATION
Established December, 1879.
Byron
S.
1.00
Began business February, 1880
Walter E. Barden, Treasurer and Secretary
Gardiner, President
Directors: F. W. Averill, W. E. Barden, D. A. Barrows, M. G. Day, J. J. Eidenf, T. E. A. Fuller, B. S. Gardinerf, H. A. Gardnerf, N. C. Grant, H. A. Hall, C. F. Henrichf, Rufus Kingf, J. W. Martin, Jr., E. E.
Osterholmf, E. W. Pinkf, R. I. Rhodes, C. E. Riley, F. W. Sears, F. E. Sturdy, H. B. Thompson.
Loan
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
Assets
....
Loans secured by pledge of shares
Loans secured by other collateral
Real estate owned by the association
Unpaid dues
Unpaid interest
Furniture and fixtures
Deposited in banks
Cash in hands of treasurer
.
1928
Liabilities
Loans secured by mortgages upon
real estate
10,
$459,426 85
14,714 24
200 00
1,500 00
776 00
98 50
200 00
7,355 19
247 66
h
1,606 matured shares at $151.87 each
435 shares, series 45 at $130.36 each
88 shares, series 46 at $114.99 each
310 shares, series 47 at $100.04 each
242 shares, series 48 at $85.49 each
251 shares, series 49 at $71.33 each
282 shares, series 50 at $57.55 each
278 shares, series 51 at $44.14 each
427 shares, series 52 at $31.09 each
282 shares, series 53 at $18.40 each
291 shares, series 54 at $6.05 each
Due on construction loans
Dues paid in advance
Interest paid in advance
Bills payable
Overs and shorts
Guaranty fund
Undivided profits
.
Forfeited shares
$484,518 44
t Auditors.
$243,903 22
56,706 60
10,119
31,012
20,688
17,903
16,229
12,270
13,275
5,188
"
1,760
2,680
1,366
1,505
20,000
6
15,000
14,862
38
12
40
58
83
10
92
43
80
55
85
00
90
00
00
00
67
47
$484,518 44
P.D.
8,
Part III.
185
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 in February and August.
Required monthly dues upon each share
.
....
.
.
.
567
50
296
40
739
,000.00
308
6%
5%
5V2 %
,559.03
580
351
150
$2.00
186
P.D.
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 Report
Savings Banks, General Remarks
Trust Companies, General Remarks
Treasurer and Receiver-General, General Remarks
1
186
ii
...
vi
vii-xxix
....
....
....
....
.
.
.
iii
iii
182
i
ii
vi
Index to the Annual Reports
[Alphabetically by
Name]
CO-OPERATIVE BANKS
Name
Location
Acusb.net Co-operative Bank
Adams Co-operative Bank
Aldenville Co-operative Bank
Amesbury Co-operative Bank
Andrew Square Co-operative Bank
Arlington Co-operative Bank
Athol Co-operative Bank
Atlantic Co-operative Bank
Attleborough Co-operative Bank
Auburndale Co-operative Bank
Ausonia Co-operative Bank
Avon Co-operative Bank
Back Bay Co-operative Bank
Baldwinville Co-operative Bank
Bellevue Co-operative Bank
Beverly Co-operative Bank
B. F. Butler Co-operative Bank
Boston Co-operative Bank
Braintree Co-operative Bank
Bridgewater Co-operative Bank
Brighton Co-operative Bank
Brookhne 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
Commonwealth 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
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
.
.
.
New
Bedford
Adams
Page
125
2
Chicopee
Amesbury
69
Arlington
Athol
2
9
3
4
Lawrence
100
Boston
.
Attleboro
Newton
Boston
Avon
.
Boston
Templeton
Boston
Beverly
5
127
9
5
10
161
11
8
Lowell
105
Boston
12
55
55
13
59
Braintree
Bridgewater
Boston
Brookline
Boston
Cambridge
Brockton
Canton
Yarmouth
Somerville
Cambridge
Gardner
Boston
Chelsea
Chester
Chicopee
Chicopee
Haverhill
Holyoke
Clinton
Boston
Cambridge
Boston
Concord
Boston
Brookline
Danvers
Franklin
Dedham
Boston
Boston
East Bridgew ater
Easthampton
Taunton
Merrimac
Boston
Boston
Lynn
13
60
56
65
182
149
61
89
14
66
68
70
71
94
97
71
15
62
16
74
17
60
74
88
75
18
18
77
78
157
119
19
20
.
Worcester
Boston
Everett
Fall River
Falmouth
Boston
Boston
Boston
Maiden
Fitchburg
107
178
21
79
80
83
22
22
23
110
84
P.D.
8,
187
Part III.
Name
Location
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
Glendale Square Co-operative Bank
Gloucester Co-operative Bank
Grafton Co-operative Bank
Greenfield Co-operative Bank
Groveland Co-operative Bank
Guardian Co-operative Bank
Hampden Co-operative Bank
Harvard Co-operative Bank
Haverhill Co-operative Bank
Henry Wilson Co-operative Bank
Highland Co-operative Bank
Highland Co-operative Bank
Hillside Co-operative Bank
Hingham Co-operative Bank
Holbrook Co-operative Bank
Holyoke Co-operative Bank
Home Co-operative Bank
Homestead Co-operative Bank
Housatonic Co-operative Bank
Hudson Co-operative Bank
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
King Square 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
Lower Mills 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
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
.
Fitchburg
Boston
Foxborough
Framingham
.
Gardner
Boston
.
Everett
Gloucester
.
Grafton
Greenfield
.
Groveland
Boston
.
Springfield
.
Boston
.
Haverhill
.
Natick
Boston
.
Springfield
.
Hingham
.
.
.
.
.
.
Medford
Holbrook
Holyoke
Worcester
Boston
Great Barrington
Hudson
Barnstable
Boston
Worcester
Cambridge
Ipswich
Boston
Boston
Boston
Fall River
Lawrence
Leominster
Lexington
Lynn
.
Lowell
Boston
Lynn
Maiden
.
Mansfield
Marblehead
Marlborough
Tisbury
Boston
Boston
Taunton
Medfield
Medford
Medway
Boston
Melrose
Boston
Lawrence
Methuen
Boston
Middleborough
Lowell
Milford
Millbury
Milton
Boston
Brockton
Boston
Leominster
Needham
New
Bedford
Newburyport
Newton
Newton
Boston
Newton
Abington
Northampton
Cambridge
Dighton
Boston
Easton
Weymouth
Norwood
Taunton
Orange
Peabody
Fall River
Cohasset
Boston
Pittsfield
Page
P.D.
188
Name
8,
Part III.
Location
Plymouth Co-operative Bank
Plymouth
.
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
Scituate 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 Middlessex 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
Uphams Corner 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 Hill Co-operative Bank
Winthrop Co-operative Bank
Woburn Co-operative Bank
Wollaston Co-operative Bank
Worcester Co-operative Bank
Workingmen's Co-operative Bank
Wrentham Co-operative Bank
Chelsea
.
Quincy
Randolph
Reading
Boston
Cambridge
Revere
Rockland
Salem
Boston
Boston
Salem
Sandwich
Saugus
.
.
.
.
Scituate
Brockton
Sharon
Boston
Quincy
Shirley
Somerville
.
Boston
Southbridge
Boston
.
Framingham
Weymouth
Weymouth
Springfield
.
Stoneham
.
Stoughton
Boston
.
Swampscott
Taunton
Boston
Boston
.
Fall River
.
Boston
Pittsfield
Boston
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
182
183
184
