EIGHTEENTH ANNUAL REPORT

OF THE

BOARD OF COMMISSIONERS

OF

SAVINGS BANKS.

1893.

PART I.

SAVINGS BANKS, INSTITUTIONS FOR SAVINGS, AND SAFE

DEPOSIT, LOAN AND TRUST COMPANIES.

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

18 Post OFFICE SQUARE.

1894.

Commonwealth of Massachusetts.

OFFICE OF THE BOARD OP COMMISSIONERS OF SAVINGS BANKS,

COMMONWEALTH BUILDING, Boston, January 23, 1894.

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 herewith the eighteenth annual report of the condition of the institutions placed by statute under its supervision.

By the provisions of chapter 126 of the Acts of 1890 the report is inade in two parts.

Part I, herewith presented, includes the following institutions :

.

185 savings banks and institutions for sav-
ings, with assets of

$124,579,334 38
23 safe deposit, loan and trust companies,
with assets of

92,947,301 40
1 trust company in the hands of a receiver,
with assets of

151,278 25
1 savings bank in the hands of a receiver, *

Part II. includes:

116 co-operative banks, with assets of .

2 collateral loan companies, with assets of
2 mortgage loan companies, with assets of

$17,085,921 93

429,452 65 1,912,005 53

Making a total of 330 institutions under the supervision of the board, with assets of $537,105,294.14,- an increase in institutions of 5, and in assets of $8,561,217.81.

* See page x for a statement of the affairs of this institution.

INCREASE IN INSTITUTIONS. The following table exhibits the increase in institutions during the year, with the dates of incorporation and commencement of business :

NAME.

Date of Incorpora

tion.

Date of Commencement of

Business.

Savings Banks. City Savings Bank, Pittsfield,

Apr. 13, 1893, June 1, 1893. Trust Companies. Beacon Trust Company, Boston,

June 14, 1892, May

4, 1893. Cambridge Safe Deposit and Trust Company, Cambridge,

May 8, 1890, Nov. 7, 1892. Plymouth County Safe Deposit and Trust Company, Brockton,

June 14, 1892, Sept. 1, 1893. Co-operative Banks. Middlesex Co-operative Bank, Lowell, Nov. 2, 1892, Nov. 3, 1892. Mt. Washington Co-operative Bank, Boston, June 20, 1893, June 21, 1893.

The Palmer Co-operative Bank has discontinued business during the year.

The Markets Savings Bank of Boston was chartered by the Legislature March 25, 18933, but up to the time of this report had not commenced business and consequently is not included in this report.

DIVIDENDS.

Rates of Dividends, showing Comparisons with Oct. 31, 1892.

ORDINARY DIVIDENDS PAID DURING THE YEAR ENDING Oct. 31, 1893.

Total amount of ordinary dividends for the year, $15,546,430 43
Total amount of extra dividends for the year,

109,135 38 Average rate of ordinary dividends for the year, 4.09 + per cent.

* The City Savings Bank of Pittsfield, which commenced business during the year.

Table showing Average Rate of Dividends each Year since 1876.

AGGREGATE STATEMENT OF LIABILITIES AND Assets, Showiny Increase or Decrease as compared with the year ending

Oct. 31, 1892.