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EIGHTEENTH ANNUAL REPORT
BOARD OF COMMISSIONERS
SAVINGS BANKS, INSTITUTIONS FOR SAVINGS, AND SAFE
DEPOSIT, LOAN AND TRUST COMPANIES.
18 Post OFFICE SQUARE.
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
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-
Part II. includes:
116 co-operative banks, with assets of .
2 collateral loan companies, with assets of
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 :
Date of Incorpora
Date of Commencement of
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.
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
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.