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Annual Report of the Board of Commissioners of Saving Banks

Annual Report of the Board of Commissioners of Saving Banks

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Описание
Excerpt from Annual Report of the Board of Commissioners of Saving Banks: 1881

To the Honorable Senate and House of Representatives.

The Commissioners of Savings Banks respectfully present their Sixth Annual Report for the consideration of the Legislature.

The number of savings banks now doing business in the Commonwealth is one hundred and sixty-five, one more than last year.

The Brockton Savings Bank of Brockton, which was incorporated by the last Legislature, commenced business in May last, under favorable circumstances. The bank supplies an urgent need in this large manufacturing community, which had been deprived of the facilities of a savings bank since the failure of the North Bridge water Savings Bank, in 1877.

There are now twelve banks in the hands of receivers. The final dividend of ten percent has been allowed, by decree of the Supreme Judicial Court, in the West Boston Savings Bank of Boston.

There have been six dividends in all allowed by the Court, amounting to eighty-five percent of the principal of the deposits.

The final account of the receivers of the Rockport Savings Bank has been presented to the Supreme Judicial Court, and a dividend of about fourteen percent will probably be allowed, which, with the three previous dividends, will return to the depositors about eighty-four percent of the principal of their deposits.

The receivers of the Mercantile Savings Institution of Boston and the Hyannis Savings Bank expect to present their final accounts to the Court during the winter. The final dividends to the depositors will probably be payable early in the spring.

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