Bates on Investments and Loans (Average on All, 5.06%).

Real estate loans (average rate, 5.01 per cent.): 5%, $2,929,093; 5%, $33,160; 6%, $24,800.
Personal loans (average rate, 6 per cent.): 6%, $717,282.

Bonds, stocks, etc. (average rate on amounts invested, 4.71 per cent.): 3%, $30,000; 4%, $676,400; 44% $82,600; 4%%, $619,000; 5%, $225,000; 5.15%, $5,000; 5.35%, $10,000; 5%%, $25,000; 6%, $197,500; 7%, $12,800; 8%, $10,250; 9%, $7,100; 10%. $20,000; 12%, $10,000; 20%, $18,300.

Number of loans not over $3,000 each, 394, amounting to $561,086. 65 real estate loans made during year, amounting to $202,350.

Dividends, Deposits and Withdrawals.

Ordinary dividends declared during year: Nov., 1917, 2%
May, 1918, 21⁄4%

Number of deposits during year, 10,957, amounting to

$109,966 23

110,739 62

741,879 59

$962,585 44

833,273 74

$129,311 70

15,000 Boston 448

13,000 Brockton 48

15,000 Buffalo, N. Y., 428

15,000 Canton, O., 528

5,000 Chelsea 328

20,000 Chelsea 4s 10,000 Chicago, Ill., 48 20,000 Cleveland, O., 41⁄2s 18,000 Dayton, O., 58 30,000 Fall River 48

9,000 Lewiston, Me., 48 60,000 Los Angeles, Cal., 428 48,000 New Bedford 48 8,000 New Britain, Conn., 448 20,000 Omaha, Neb., 428

6,000 Peoria, Ill., 48

17,000 Pittsfield 4s
10,000 Portland, Ore., 428
25,000 Portland, Ore., 68
10,000 San Francisco, Cal., 58
5,000 Schenectady, N. Y., 4s
30,000 Seattle, Wash., 48
10,000 Stamford, Ct., 428
30,000 Superior, Wis., 428
10,000 Toledo, O., 48
4,000 Attleboro 4s
36,000 Peabody 48

27,000 Warwick, R. I., 423
8,000 Van Buren, Me. (W. D.), 48

Railroad Bonds.

$15,000 Baltimore & Ohio 428
10,000 Baltimore & Ohio 58
35,000 Bangor & Aroostook 58
10,000 Boston & Albany 31⁄2s
40,000 Boston & Maine 428
32,000 Chic., Mil. & St. Paul 428
25,000 Chic., Mil. & St. Paul 5s
22,000 Chic., Mil. & St. Paul 68
50,000 Chicago & Northwest. 48
10,000 Chicago & Northwest. 59
10,000 Chi., St. Paul, Minn. & O. 6s
10,000 Cleveland & Pitts. 428
20,000 Conn. & Pass. Rivers 48
8,000 Dexter & Piscataquis 48
30,000 Fitchburg 48

30,000 Fremont, E. & Mo. V. 68
50,000 Louisville & Nashville 68
25,000 Maine Central 428
10,000 Maine Shore Line 68
25,000 Mil., L. S. & West. 58
10,000 Minn., St. P. & S. Ste. M. 58
15,000 Minneapolis Union Ry. 68
25,000 Mobile & Ohio 68
12,000 Montana Central 5s
20,000 New England 58
15,000 N. Y. C. & H. R. 31⁄2s
30,000 N. Y. C. & H. R. 48

Par Value.

$10,000 N. Y., Lack. & West. 6s 25,000 N. Y. & N. E. Term. 4s 50,000 N. Y., N. H. & H. 48 15,000 Northern Pacific 428 10,000 Pennsylvania 428 10,000 Penobscot Sh. Line 48 13,000 Portland & R. Falls 4s 35,000 P., Gr. F. & Con. 428

5,000 St. Johns. & Lake Ch. 5s 25,000 St. Paul, Minn. & Man. 41⁄2s 35,000 Vermont Valley 428 20,000 Wor., Nashua & R. 48

WARREN INSTITUTION FOR SAVINGS, BOSTON.

199 WASHINGTON STREET.

Incorporated February 21, 1829. Number of corporators, 61; number of trustees, 19.

JAMES O. Oris, President.

JOHN F. TURNER, Clerk of the Corporation.

FRANK D. BROWN, Treasurer.
MARSHALL JONES, Assistant Treasurer.

Board of Trustees: JAMES ADAMS, F. B. AUSTIN, J. W. AUSTIN, WILLIAM BACON, F. J. Bartlett, W. D. DEXTER, C. S. GILL, F. A. GOODHUE, G. S. HARRINGTON, EDWard Lawrence, Thomas MOTLEY, J. O. OTIS, A. R. ROBERTSON, C. P. SAMPSON, H. M. THOMPSON, F. H. TORREY, S. W. WEBB, H. K. WHITE, B. F. WILD.

Board of Investment: J. O. OTIS, JAMES ADAMS, J. W. AUSTIN, F. J. Bartlett, F. A. GOODHUE, H. K. WHITE.

Auditing Committee: W. D. Dexter, H. M. THOMPSON, S. W. WEBB.

Deposits draw interest from third Wednesday of January, April, July and October; dividends are payable the third Wednesday of April and October. Business hours: 9 A.M. to 2 P.M.; Saturdays, 9 A.M. to 12 M.; also Wednesdays, 3 to 4 P.M.

Bank building and fixtures (estimated value, $302,527.93; assessed value, $177,000)

Stocks of banks and trust companies

1,156 loans on real estate (average of each, $6,899.02)

70 loans on personal security

Real estate by foreclosure, etc. (assessed value, $7,900)

Taxes, insurance, etc., paid on mortgaged properties
War savings stamps and thrift stamps

Deposits in national banks or trust companies

Cash and cash items

Total Assets

$1,762,185 06

2,441,755 61

361,640 00

100,000 00

273,831 25

36,899 33

7,975,267 28

2,164,126 90 302,527 93 5,249 07 748 40 400 00 578,536 32 15,536 28

$16,018,703 43

Liabilities.

Due depositors on 22,957 accounts, averaging $641.53 each
(Accounts opened during year, 2,036: closed, 2,029; increase, 7)

Surplus:

a. Guaranty fund (4.99% of deposits; increase during year, $24,450) b. Profit and loss (decrease during year, $8,675.66)

Total Expenses for the Year, including State Taxes.

State Tax (Net). Salaries.

Rent. Advertising. Other Expenses.

.20

.57

Total.

Amount paid for
Cost per $1,000 of assets
Cost per $1,000 of assets not including State tax and rent

$22,487.21 $28,617.48 $12,300.00 $3,177.49 $9,149.75 $75,731.93
1.40
1.72

.77

4.66

2.49

Gross income received during the year, $756,259.51.

Rates on Investments and Loans (Average on All, 4.89%).

Real estate loans (average rate, 4.93 per cent.): 4%, $631,000; 4%. $40,000; 4%. $732,500; 44%. $351,500; 4%, $854,800; 44%, $73,500; 4%%, $23,000; 5%, $2,862,945; 54%, $63,700; 5%%, $2,033,756; 6%, $308,566.28.

Personal loans (average rate, 6 per cent.): 5%, $8,500; 6%. $2,075,626.90; 6%, $80,000.

Bonds, stocks, etc. (average rate on amounts invested, 4.33 per cent.): 3.10%, $3,600; 34%. $350,000; 4% $2,752,300; 44%, $929,750; 4%%, $377,000; 5%, $365,000; 5%, $50,000; 5.15%, $50,000; 5.20%, $50,000; 54%, $25,000; 5.35%, $75,000; 52%, $25,000; 8%, $3,300; 10%, $5,000; 12%. $2,200; 20%. $13,600.

Number of loans not over $3,000 each, 648, amounting to $914,315. 13 real estate loans made during year, amounting to $85,100.

Dividends, Deposits and Withdrawals.

Ordinary dividends declared during year: April, 1918, 24%
Oct., 1918, 24%

Number of deposits during year, 13,498, amounting to

Number of withdrawals during year, 16,068, amounting to

Net increase in amount due depositors

$319,039 01

320,356 44 1,715,283 81

$2,354,679 26

2,314,561 34

$40,117 92

25,000 Massachusetts 4s 55,000 Hampden Co. 4s 300,000 Boston 48 10,000 Hamilton, O., 58 77,000 Lynn 48 55,000 New Bedford 4s 3,000 Amesbury 48

4,800 Brookline 48

2,000 Lynnfield 428

10,000 Mansfield 4s

4,000 W. Springfield 48

Public Funds, Notes. $25,000 Hampden Co. 58 25,000 Middlesex Co. 58 25,000 Lowell 5.50% 25,000 New Bedford 5.25% 50,000 Pittsfield 5.35% 2,500 Revere 48 50,000 Somerville 5.15% 50,000 Woburn 5.20% 6,000 Bedford 4s 3,600 Brookline 3.10% 25,000 Plymouth 5.35%

SCHEDULE OF SECURITIES OWNED.

Railroad Bonds.

Par Value.
$100,000 Atch., Top. & Santa Fé 4s
100,000 Baltimore & Ohio 428
35,000 Bangor & Aroostook 58
30,000 Boston & Albany 4s
25,000 Boston & Albany 428
70,000 Boston & Albany 58
100,000 Boston & Maine 48
200,000 C., B. & Q. 48

50,000 Chic., Mil. & St. P. 4s
100,000 Chi., Mil. & St. Paul 428
25,000 Chi., Mil. & St. Paul 58
71,000 Concord & Montreal 48
52,000 Conn. & Pass. Rivers 4s

100,000 Fitchburg 4s
50,000 Ill. Central 31⁄2s
150,000 Ill. Central 4s

25,000 Indiana, Illinois & Iowa 48
100,000 Lake Shore & Mich. So. 48
50,000 Louisville & Nashville 58
100,000 Maine Central 428

50,000 Mich. Ct.-Det. & Bay City 58 125,000 Minn., St. P. & S. S. M. 48 50,000 Minn., S.S. M. & Atlantic 4s 100,000 N. Y. C. & H. R. 328 150,000 N. Y. C. & H. R. 48

Par Value.

$125,000 Old Colony 48

50,000 Pennsylvania 411⁄28 25,000 Portland Terminal Co. 4s 31,000 St. P., Minn. & Man. 48 25,000 Union Pacific 48 100,000 Vermont & Mass. 328 100,000 W. Virginia & Pitts. 48 50,000 Worc., Nash. & Roch. 4s

Street Railway Bonds. $60,000 Boston & Northern 4s 25,000 Holyoke 5s 50,000 Old Colony 48 141,000 West End 48 100,000 West End 58

Bank Stocks.

Shs.
158 Eliot Nl. Bk., Boston
93 First Nl. Bk., Boston
50 Nl. Union Bk., Boston
22 Old Colony Trust Co., Boston
43 Second Nl. Bk., Boston
33 Webster & Atlas NI. Bk., Boston

WASHINGTON SAVINGS INSTITUTION, LOWELL.

30 MIDDLESEX STREET.

Incorporated May 23, 1892. Number of corporators, 25; number of trustees, 13.

JOHN J. HOGAN, President.

FRANK A. GROVES, Treasurer.

CORNELIUS E. COLLINS, Clerk of the Corporation.

Board of Trustees: C. E. COLLINS, R. E. CROWLEY, J. E. DRURY, W. F. FARRELL, F. A. GROVES, C. H. HANSON, J. J. HOGAN, W. A. HOGAN, JOSEPH MARIN, PATRICK O'HEARN, T. B. O'HEARN, P. W. REILLY, PAUL VIGEANT.

Board of Investment: R. E. CROWLEY, J. E. DRURY, C. H. HANSON, J. J. HOGAN, PATRICK O'HEARN, JOSEPH MARIN.

Auditing Committee: PATRICK O'HEARN, W. F. FARRELL, Paul Vigeant.

Deposits draw interest from the second Saturday of February, May, August and November; dividends are payable the second Saturday of February and August. Business hours: 9 A.M. to 1 P.M.; also Saturdays, 7 to 9 P.M.

STATEMENT OF CONDITION, OCTOBER 31, 1918.

Assets.

Public funds, bonds and notes

Railroad bonds and notes

Street railway bonds

American Tel. & Tel. Co. bonds

Securities acquired in settlement of indebtedness

691 loans on real estate (average of each, $2,358.28)

35 loans on personal security

Bank building and fixtures (estimated value, 880,000; assessed value, $77,550)

$514,150 00

528,535 38

87,293 75

46,062 50

43,975 00

1,629,574 00

105,024 50

78,786 81

41,846 69

10,352 66

5,599 57

War savings stamps and thrift stamps

Deposits in national banks or trust companies

Cash and cash items

Total Assets

258 50

124,007 63 24,397 18

$3,239,864 17

Liabilities.

Due depositors on 8,203 accounts, averaging $375.23 each
(Accounts opened during year, 2,546; closed, 1,896; increase, 650)
Surplus:

a. Guaranty fund (3.21% of deposits; increase during year, $7,700) b. Profit and loss (decrease during year, $608.53)

$3,078,075 71

98,850 00 18,590 17

Rates on Investments and Loans (Average on All, 5.05%).

Real estate loans (average rate, 5.96 per cent.): 4%, $4,500; 5%, $9,000; 5%, $78,100; 6%, $1,537,974. Personal loans (average rate, 5.24 per cent.): 42%, $5,000; 6%, $88,024.50.

Bonds, stocks, etc. (average rate on amounts invested, 3.83 per cent.): 3%, $10,000; 3%, $50,000; 4%. $408,750; 44%, $260,150; 42%, $250,250; 5%, $110,000; 5.15%, $15,000.

Number of loans not over $3,000 each, 562, amounting to $883,874. 38 real estate loans made during year, amounting to $134,800.

Dividends, Deposits and Withdrawals.

Ordinary dividends declared during year: Feb., 1918, 2%
Aug., 1918, 2%
Number of deposits during year, 26,303, amounting to

Number of withdrawals during year, 8,592, amounting to

Net increase in amount due depositors

$53,829 96

54,618 99 1,037,547 42

$1,146,026 37

942,812 88

$203,213 49