FOREIGN COMPANIES. Of the three companies formerly doing business in this Commonwealth, we have to report as follows: MINNESOTA SAVING FUND AND INVESTMENT COMPANY. This company reports withdrawals paid and cancelled between Dec. 20, 1900, and Dec. 10, 1901, to Massachusetts members, $9,183, in addition to which there was about $25,000 of stock held in this Commonwealth exchanged for real estate. Stock held by Massachusetts members to the amount of $21,500 stood entered for withdrawal on Dec. 10, 1901. SECURITY SAVINGS AND LOAN ASSOCIATION OF MINNEAPOLIS. Hon. Robert D. Russell, the receiver of this company, died Feb. 13, 1901, and Robert Jamison was appointed his successor. Mr. Jamison reports, under date of November 6, last, that: "The assets of the association have just been disposed of, so that there remains but the formal winding up of the receivership and the payment of a small dividend to the shareholders." AMERICAN BUILDING, LOAN AND INVESTMENT SOCIETY OF CHICAGO. The receiver of this company, Henry W. Brant, Esq., reported, under date of Nov. 12, 1901, that a dividend of 4 per cent. would be paid on or about December 20 last. xxii REPORT — SAVINGS BANKS. [P.D. No. 8. CONCLUSION. The financial statements, and other statistics of the several institutions referred to in this report, will be found on the following pages. In the Appendix will be found the statutes relating to cooperative banks, being chapter 114 of the Revised Laws. Previous to 1893 the law authorized the printing of 1,500 copies of this part of the annual report, which number was not sufficient to meet the demand, and the Legislature of that year increased the number to 2,000; but this number appears to be in excess of the demand at present, about 300 copies of each year's report being now on hand. Under the circumstances, it would seem that for the next few years the Commonwealth might be spared some expense for printing by reducing the number to be printed to 1,700. STARKES WHITON, Board of Commissioners of Savings Banks. ABSTRACT OF ANNUAL REPORTS OF THE CO-OPERATIVE BANKS, SHOWING THEIR CONDITION AT CLOSE OF BUSINESS OCTOBER 31, 1901. ACUSHNET CO-OPERATIVE BANK-NEW BEDFORD. Incorporated Nov. 15, 1889. Commenced business Nov. 16, 1889. Detailed Statement of Receipts and Disbursements for the Year ending Amount. Total Amount of Loans at Specified Rates of Interest. DATE OF ISSUE. Reconciliation of Share Account with Dues and Profits Capital. Highest rate of premium or interest received on money sold during the year: 5 per cent. Lowest rate of premium or interest received on money sold during the year: 5 per cent. Rate of profits distributed: first term, 24 per cent.; second term, 24 per cent. Present number of members, 62 Smallest loan to any one member, Amount of expenses of the corporation for the year ending Oct. 31, 1901, $5,000 00 25 00 905 06 |