AGGREGATE STATEMENT OF LIABILITIES AND ASSETS,

Showing Increase or Decrease as compared with the Year ending

It will be seen by the foregoing table that there has been an increase in the deposits over 1891, of $23,493,476.54. This increase is the largest for any year in the history of savings banks, except the years 1870 and 1871, when the increase was respectively $23,626,080.90 and $27,958,980.00. As the falling off in deposits was justly attributed last year to the bond investment and endowment orders, which diverted deposits from savings banks, so the increase is largely due to the fact that many of these organizations have gone into the hands of receivers, and the remainder of them are eking out an unprofitable existence. It is a fair inference, then, that the exposure of the methods of these orders by receivers has influenced depositors to return to the savings banks.

The number of open accounts is 1,189,936, an increase of 58,733 over 1891, giving an average deposit of $330.37 to each account.

The increase in the number of deposits is 206,545, and in the amount deposited $9,130,099.07, while the increase in the number of withdrawals is only 14,941, and in the amount withdrawn $2,485,302.89.

The number of deposits made during the year is 1,175,295 and the amount deposited $82,535,534.15, an average of $70.23; while the number of withdrawals for the same period is 820,138, and the amount withdrawn $73,658,237.93, making an average of $89.81.

A comparison of these averages seems to indicate, as stated above, that the small depositor, who was temporarily diverted from the savings bank to patronize the endowment and bond orders, is returning his money to the savings institutions. This result is very gratifying, for there is no institution that can care for the savings of the poor man with greater safety, with more intelligence and so little expense, and at the same time earn a greater return on the deposit consistent with safety, than our own savings institutions. And it is worthy of note, in this connection, that, though the assets of our savings banks are $415,898,159.44, the expense of investing and caring for this vast sum is only $936,829.59, or less than one-quarter of one per cent.

The increase in the assets of the banks during the year is $25,332,192.34, of which the increase in the amount invested in public funds and loans on real estate form the larger part, being respectively $7,497,285.71 and $12,127,471.47, an ag gregate of $19,624,757.18.

The increase in the amount of bank stocks held by the banks is the largest in ten years, being $636,910.41. A large part of this increase may be attributed to the increase in the capital stock of the National Bank of the Commonwealth and of the Lincoln National Bank, both of Boston, the stock of which banks was held by savings banks at the close of Oct. 31, 1891, to the extent of $277,362.25. At the close of business Oct. 31, 1892, savings banks held stock of these two banks to the amount of $589,953.50, showing an increase of $312,591.25. The remainder of the increase would then be $324,319.16, an amount less than the average for the preceding ten years.

Personal loans with collateral have increased $1,895,878.51. Personal loans without collateral have decreased $469,708.30. The loans on personal security have increased $1,426,170.21. These figures indicate that in the item of loans on personal security the banks are requiring that notes be backed with collateral.

The increase or decrease in other items of the assets may be determined by reference to the table of comparative aggregates at the end of this volume.

From the annual reports of the one hundred and eighty-four savings banks, we compile the following statements: —

The final decree of the court in this case was passed July 8, 1892, ordering the receivers to pay into the treasury of the Commonwealth dividends unpaid to the amount of $2,732.78. The order has been complied with, and a copy of the statement filed with the State auditor. The books and papers of the bank have been deposited with this Board. Total dividends declared, 6013 per cent.

Reading Savings Bank.

All the books and papers relating to the affairs of this bank have been deposited with the commissioners. Dividends to the amount of 50 per cent. have been declared, of which none remain unpaid.

Stockbridge Savings Bank.

This bank was placed in the hands of a receiver April 10, 1891, with assets of $285,274.49 and amount due depositors of $303,158.61. A dividend of 33 per cent. was ordered by the supreme judicial court, July 28, 1891, of which $283.43 remains unpaid Dec. 20, 1892. A second dividend of 163 per cent. was ordered, Jan. 15, 1892, of which $1,066.81 remains unpaid Dec. 20, 1892.

The character of the loans both upon real estate and personal security remaining in the hands of the receiver is such that it is difficult to realize their full value, and forced sales would result in considerable loss. Many loans have been disposed of during the year at fair values, and all of them have been examined with a view to settlement or sales. An action upon the bond of the late treasurer has been commenced, and something will be realized from this source, but how much cannot at present be estimated.

The receiver will soon be prepared to make his application to the court for the payment of a further dividend of not less than 121 per cent.

Following is a statement of the condition of the bank Oct. 31, 1892

VERIFICATION OF DEPOSITORS' PASS Books.

During the year the savings banks have been called upon to make an examination and verification of their depositors' pass This is the second examination under the law of

books.