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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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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