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TWENTY-SIXTH ANNUAL REPORT

OF THE

BOARD OF COMMISSIONERS

OF

SAVINGS BANKS.

1901.

PART I.

RELATING TO

SAVINGS BANKS, INSTITUTIONS FOR SAVINGS, AND TRUST

COMPANIES.

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BOSTON:
WRIGHT & POTTER PRINTING CO., STATE PRINTERS,

18 Post OFFICE SQUARE.

1902.

Commonwealth of Massachusetts.

OFFICE OF THE BOARD OF COMMISSIONERS OF SAVINGS BANKS,

STATE Horse, Boston, Jan. 13, 1902. To the Honorable the Senate and House of Representatives in General Court

assembled. The Board of Commissioners of Savings Banks has the honor to present its twenty-sixth annual report, relating to the institutions now under the supervision of the Board.

The number of such institutions on the 31st of October last, to which date the statutes require the annual reports to be made, was 355, viz. :

186 savings banks,

36 trust companies, 128 co-operative banks,

3 collateral loan companies,

2 mortgage loan and investment companies, with aggregate assets of about $816,000,000.

Part I. of the report herewith submitted gives the statistics of

$596,094,818 80
189,769,619 75

186 savings banks with assets of .
36 trust companies with assets of
3 savings banks in hands of the courts.
1 trust company in hands of receiver.

Information regarding the institutions last mentioned is given on pages viii, ix and xiii ; abstracts from the annual reports of the others are appended hereto.

Part II., to be submitted later in the session, will include the reports of —

128 co-operative banks.

3 collateral loan companies.
1 mortgage loan company.
1 mortgage loan company in hands of receiver.

During the year ending October 31 last, two new institutions have commenced business, viz:

The Revere Co-operative Bank, at Revere; and the
Wrentham Co-operative Bank, at Wrentham.

SAVINGS BANKS.

Dividends. The following table gives the rates of dividends declared during the year, as compared with those of the previous fiscal year :

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Those banks (98 in number) which declared dividends at other than the rate of 2 per cent. semi-annually, made their dividends as follows:

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2 banks paid 14 per cent. the first term, 14 per cent. the second term. 4 11

13 1 13

2 2 18

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The total amount of dividends declared was $19,313,792.99, - an increase of $646,465.45 over the amount declared in the previous fiscal year; the average rate for the year was 3.75 per cent., as compared with 3.81+ the preceding year.

The decrease in rates of dividends within the last five years is shown by the fact that the number of

Banks paying less than 4 per cent. per annum in 1896 was 10; in 1901, 98 Banks paying 4 per cent. per annum

in 1896 was 157; in 1901, 88 Banks paying over 4 per cent. per annum in 1896 was 19; in 1901, 0

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