SAVINGS BANKS.

Dividends.

The rates of dividends declared during the year, as compared
with those declared during the year ending Oct. 31, 1897, are
shown in the following table:
:-

The 24 banks which declared dividends at rates other than

the general rate of 2 per cent., semi-annually, made dividends

as follows:

Exhibit B.

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

The total amount of dividends declared was $17,768,299.79,

- an increase of $432,780.33 over the total for the year end-
ing Oct. 31, 1897.

No bank made an extra dividend during the year; in fact,
the great amount of labor involved in computing an extra divi-
dend in the form prescribed by statute has of late years caused
the banks generally to avoid the necessity of making an extra

dividend by occasionally paying a semi-annual dividend at a

rate slightly in excess of their ordinary rate.

It will be noticed, by a comparison with last year's return,

that the rates of dividends are gradually being reduced; while

17 banks paid over 4 per cent. during the year ending Oct. 31,

1897, only 11 have exceeded that rate the past year; the num-

ber paying less than 4 per cent., as shown by the present

report, is 2 in excess of the number shown in the previous

report.

The following statement shows the rates of dividends during

the past year, as compared with rates of those declared in the

year ending Oct. 31, 1893, -five years ago: -

5 banks paid 5 per cent.; in 1898, 0.

In 1893,

At the present time it seems probable that extra dividends

cannot be expected in the future; in fact, the ruling rates for

money at present are so low that in some cases banks will find

it difficult to maintain the rates at which their regular dividends

have heretofore been made.

The earning capacity of the banks at present, as compared

with that existing five years ago, is in part evidenced by the

following statement of loans existing Oct. 31, 1893, as com-

pared with those outstanding at date of the present report:-

At the former date loans at less than 4 per cent.

amounted to

$11,903,555 00

20,919,628 00

At the former date loans at 4 per cent. amounted

to .

At the former date loans at over 4 per cent.

amounted to

The present report shows loans at less than 4 per

263,163,911 00

The present report shows loans at 4 per cent. to

The present report shows loans at over 4 per cent.

to be

The decrease in earning capacity would be made still more
evident were a classification made of the rates of interest re-
ceived on investments in public funds, railroad bonds, etc.,
which rates are much lower than those prevailing five years
ago.

Business of the Banks.

The following statement gives certain statistics of the busi-
ness of the banks, together with the increase, or decrease, in
the items, as compared with the preceding year: -

A comparison with the returns of Oct. 31, 1893, discloses an

increase during the five years, in loans secured by mortgages

of real estate, of 13,968 in number and of $45,399,303 in

amount. The average of such loans was in 1893 $2,768.21;

in the present returns it is $2,842.50.

The number of loans of all kinds not exceeding $3,000 each

has risen from 56,421 in 1893 to 66,874 in 1898,- an increase
of 10,453 in the five years.

The above statements demonstrate the truth of the oft-repeated
remark, that the banks as a whole are a great accommodation to
small borrowers who can offer satisfactory security for loans.

Liabilities and Assets.

A classified statement of the aggregate liabilities and assets of the banks is contained in Exhibit D, which follows; the increase, or decrease, in the several items, as compared with those given in our previous report, is also shown therein.

Exhibit D.

AGGREGATE STATEMENT OF LIABILITIES AND ASSETS,

Showing Increase or Decrease, as compared with the Year ending Oct. 31,

* Consisting of interest and suspense accounts, taxes and insurance paid, real estate expenses, etc.

The total amount of deposits, say $488,642,923.92, represents a total of 1,406,722 open accounts, — an average to each of $347.36, as against $342.35 on Oct. 31, 1897, at which date the number of accounts open was 1,384,329.

The total amount deposited during the year, exclusive of dividends, was $82,608,619.69; the number of deposits being 1,246,565, these figures indicate a decrease of 1,638 in number and of $205,393.09 in amount of deposits, as compared with the previous year.

The deposits during the year average $66.27 to each, — a decrease of 7 cents from the average of the preceding year.

The total sum withdrawn from the banks during the year was $83,382,101.76, the number of withdrawals being 1,117292, an increase of $4,047,293.88 in amount and of 46,020 in number, as compared with the previous year.

The sums withdrawn during the year average $74.63 to each withdrawal, an increase of 57 cents from the average of the

preceding year.

Deducting the deposits and assets of those banks which have gone into receivers' hands during the year from the aggregate deposits and assets on Oct. 31, 1897, the present return shows an increase of $17,045,496.01 in the aggregate deposits and of $18,461,346.33 in the aggregate assets over the previous

return.

The guaranty fund amounts in the aggregate to $21,092796.85,- an increase of $947,986.92 over the total on Oct. 31, 1897.

Undivided earnings show an amount of $6,053.68 less than on Oct. 31, 1897.

Investments.

By reference to the preceding table, it will be seen that since the previous statement the holdings of the banks in—

an aggregate of rising $10,750,000 in assets which, while they do not produce a large rate of income, are considered among