New Britain Herald Newspaper, January 18, 1928, Page 3

0 :'tl‘le avings ank 0) ew Dritain L 1 : : : L SSaa , ¢ ¢ Dividends to Depositors & ’ . Repertof E. N: Stanley, President : . ket July L IMT - 2B v e ok w m w 465.895.80 SAVINGS BANK OF: NEW-BRITAIN - A . = ’» ; January 1, 1228 . ; o e o 4303554 943.537.34 * “For the Year Ending:Decemiber 31, 1927 : 5 ‘. s Surplus Larpings for the year . . . st Jenely Savings lc:'k':: New Britain. 0 Ao k ; z PUOFIT AND LOSS ACCOUNT Gentiemeh: - - S s : ' Balance January 1, 1527 wor o om P v $215,746.70 ‘We have met here teday for. the apnual meeting and T am. §lad to weicome 3 b 4 > £ Surplus E:\rvnmxl 12 S > T 131,!90.30 you.to this.meeting and express my appreciation at the large number present.’ : ‘ S ST Profit on United States Securities sold or matured . 7.765.76 The business to be transacted ia the reading of the roport of the president, v i Profit on Railroad Bonds matured * ‘the election of dircctora, and, if you gee fit, the election of seven Ancorperators S i ki Profit on tn_t\- and Town Bonds matured to 811" vacancies. The incorporators are the representatives of the deposifors i 2 . Profit on Foreign Government Londs sold R 15 & Mutyal Savings Bank such this iy, and 1 shail endegvor in this report % & G % Viquidation Thvidend Third National Bank, New York to cléarly inform you of the condition ofthe bank and of its.operation during ! ¥ o 3 fale ef collateral security upon loan previously charged Ahe year 1937.:s0 that.you may Be fully posted upon all the affairs of this ¥ : i SN ST to Profit and Loss institution; which in the last analysis you centrol. Vi i) o, % STATEMFNT - JANUARY 1, 1938 : Less on Railroad Gonds told e ¥ e Loss on Rafsed 5-dellar bill Deposits ' . . . . .$20,853,346.93 - i Charged off from premiumns Loans on Real Estate .$11,783,731.00 Interest: :Account . . 100.000.00. 4 Railroad Equipment Certifcates . Loan on Stocks and Sucplus Fund .. . . 1,250,000.00, . % Public Utilities Bonds i e o 5 Bonds . . . . . 836,117.13 . Profit and Loss. Ac- % T'nited States lionds 2 LA 625 00 Lamta Cities: and aiens count % 103.869.40 3 t Foroign Government Ton. : B 1.037 82 SRR 000, . i State Bonds s Mk % 127.50 United Btates Bonds and * . City and Town Bonds . . ., . n um 473 88 'loeu:ltlol G,a w 3 .; 1,400,378.70 Railread Bonds . . S . 62.89 1892171 oreign Governmen! . H m!t“::. anm Ny ’1,1::‘:::.:: ) Transfer to Surplus Fund . ST . 25000000 ate Bonds . . . .$00. ; 3alanc uary 928 . . 03,862 City and Town Icna: 1.91,610.30 ¢ R Ehhi Railroad Bonds ., . . 1,148,020.00 ¢ $364,928.61 ha’llnru!d Equipment Cer- T A The payment of 5% interest on all deposits has been continued as the earn- » lln ;tll‘lt .!. d- . 11"-""" ings undantly warranted 1t. The surplus carnings for the vear, after making Bub;e b 'y Bonds . .“'.‘“ 4 - adequate charge-offs from premiums on bonds, were $120, 468,29 ‘There were nl:‘ Sz tk(. . ‘. k . 162 also other profits acquired throvgh the sale or maturity of bonds and stocks, eH atate, nking I amounting to $17,667 41, resulting in an increase of surplus of $138,122.79, e l:e'::e A‘ece‘unt‘ . e 3 li A ; $260.000 was transferred from TProfit and Loss aecount to permanent Surplus i - Fun Deposits- in Banks and - ~ . Reasonable economy of operation has been maintained,—the cost for ex- Th s IR s E . . g penzes and taxes having heen $4.22 per thousand of deposits. The average cost . i 3 for all the Mutual Savines Banks of the tate for the vear ending October 1, e P TR 1927." according to the Bank Commissioner's report, was $6.65 per thousand of $22,308.216.03 $22,806.215.38 deposits. Exclusive of taxes, thece amounts. are, respectively, $2.76 ours and oo - Lo $4.89 average for the state Number of secounts, Jenuary 1, I oS oy . L SURPLUS Opened during the year Y ; p y X & 2 3 A 2 Surplus Fund o e $1,280,000.08 Reopened during the year , i 3 3 X Profit and Loes Account . & 1w 15 108,869 40 STATE BONDS $1.353,06.40 $25,000 par walne purchazed at a cost of | T £ i e o TnePaRew = Colnas o LR Market Value of Securities in excess of Rook Value "o 907,748.87 5 § : , Total Surplus . s Se . $2,261,618.217 Tncréave in accounts o FOREIGN GOVERSMENT BONDS g n:| '.;amulr_v L, U:th.' '::e I:nanm value :;v al ;las? kcl n;urvl(es was in ex- b 8410007 par Faiile. parchasid alialcit ot o o ; cess of the -values at which thev are carried on the books and in the statement Total accounts-Januars 1, 1928 -, ‘. $11%3,000 par value eold at a cost of . . gt of condition, and were as follows: : -United States Securities g $71,589.90 DEPOSITS 4 3 ; > vernme: P Amount deporited dUrinE YOAr . = » m w. m . » o $6,622.0001 SRS e e o o ek 2 Syt ; Bl e R R i Amount, withdrawn during yeer « w''re = L "l.lol.zf CITY AND TOWN RONDS * rm; and 'lgon: BOREE .« 5 s i zgssgxi: ifet guin.in deposita.vor the year .. w w ~ - o n . 187817898 < $120.000 jpar valueipurchased af a. cost of ) ALEE R La:l;::: et ettt R RS While the net gain in the number of accounts is met large, you il ‘notics $12,500 par value maturad and paid 18.500.00 Fublic l'mm‘{ Bonds”, ; 33,421 25 that thers are mamy new accounts opened, thus making contact with a largs ¥ Bank Stocks R i 263.003.00 rumber of individusls new as depositors. & . TRCPRRBAL <% i LT e 3 % e PRl SIS o S8 o g The net gain in deposits for the year is $37,500 greater than in 1926, % 3 $307.743.87 S RATLROAD BONDS e REAL ESTATE IO:!:“ I bt 5 ::::g; rar :jl:‘m P'Jlr;h:'fi 8t 2 cost of Since the last annual meeting the grim reaper has been very active among mbolu MDIM ‘"‘Hlln e ”:! - ,I'! ‘. s "s-Mo par <.|‘. i ?'_9»‘4" it 3 % our incerporators, and I am under the sad necessity of reporting the loss by ' yeoa! , oo 96,188. bion P.::f"l: ::"“.; :;4 ;;:a pai death of the following incorporators: ———— 4 valy Henry E. Russell Joseph Bchilling Increase {uflu the year = » $1,211,097.00 TR L A - S R R g, $4.465.00 George W. Traut Frnst T. Fromen George M. Landers Benfamin A. Hawley OOLLATERAL LOANS RAILROAD EQUIPMENT CERTIFICATFS John A. Abrahamson Loans made during the year = $307320.78 $198,000 par value purchased at a cost £217,24119 They were all men who had held positions of prominence in the community, Loans paid during the year 339,356.43 $1,000 par value matured and paid 1,000.00 and able and active citizens, and were highly prized as incorporators and their 5 S — ——— loss is deeply felt. Mr. Traut was one of our directors and in that position’ con- ecrease during the vear . $32,035.70 Inerease “w w % % w6 owo. - mo . . . $216,241.19 tributed very materially to the successful management of the bank and his cordial interest and cooperation and genial presence will be very greatly missed, LOANS TO CTITES AND TOWNS PUBLIC UTILITY BONDSE Mr.. Edward F. Hall has been elected a, director to Il this vacancy. $10,000 matured and patd $782.000 par value purchased at a cost 5 £ $520.318.%5 A contributing factor toward the successful operation of every corporation 850,000 par value called for pavyment at s 3 2,500 00 is the “esprit de corps” of its organiization, and this we are fortunate in pos- meseing in our force of officers and employees. I wish to make acknowledgment UNITED STATES TREASURY NOTES INEEANON i o PR T e i Gt A e e ©of their helpfulness and cooperation, and of their faithful and efficlent service, $300,000 matured end paid and especially do I wish to make mention of the eplendid assistance rendered me $300,000 sold at . . W . . 830131078 BANKE STOCKS fn the conduct of the affairs of the bank by our treasurer, Mr. Lucas, Decroase o w w'm u w w i | 350121878 25 shares New Britain Trust Company cubscribed for at BEARSGLO Y Eb T ) . N . $175 per share F. N. STANLEY, UNITED STATES GOVERNMENT BONDS frdralae. ma oE U i e : $4.875.00 Prestdent $400,000 par valug purchased at a cost . 5 5.625.00 : 5 2SR e p S New Britain, Connecticut, $100,000 par value :old at a cost of . | . ':39 5;: 2 The new investments have been wall diversified, —the parcentage of the tatal January 18, 1928 $204,500 called_for payment and paid g 4 amount invested in each class being approximately: Increpse | o el h e w . - $130,598.78 ;;::fii“cl':\e‘;::::m. Eend’< e a5 4:? POINTS OF INTEREST lN THE City and Town Bonds g g g 4 Railroad Equipment Certificates . IR~ 2, g s e o e S YEAR'S RECORD gy et e chralngs Ity 118 peving Yo s o e S Lt g et s Increase in Sssets' neit .33,211,895.3 ot ot o G it e T i e depositor in full -nm addition, $10.85 for cch $100 ; VL e een A Increase in Excess Market Of hi' looount. this last amount being one loan which is undar foreclosure proceedings and & Aot 2o npon which. judgment «will thortly be rendered. Thers will be no loss incurred v | 252 m 44 P Likewise it is clearly shown that the rate of interest a8 the value of the property is several times the amount of war olai aijge .......... i y U0, Closed during the yeer ' = Decrease . . . . ., , N e e s $10,000.00 INCORPORATORS Andrew J. Sloper Charles B. Oldershaw Charles J. Parker Henry §. Walter Edward N. Stanley Charles F. Smith Arlan P. Francis August Barckhardt ‘John B. Miner Frank J. Porter Frederick G. Platt. DIRECTORS Charles B. Oldershaw Edward N. Stanley Charles F. Smith . .-of 5% paid each year on sl deposits for the years, has been comfortably earned and a. i added to the surplus each year. The incregse in during this period has been $397,022.09, .. Elbridge M. Wightman -, Lucyan Bojnowski Frederick S. Cramberlain John Kelly E. Allen Moore Richard Vogel . Clarence F. Benneit John A. Anderson - John’ Skrit: Bernard F. Gaffney. George 8. Taleott John A, Anderéon E. Allen Moore Charles J. Parker st three -sum surplus EARNINGS Gross. Earnings for tha year o W W g $1178,781.74 Leas Taxes ¢ . $43,413.16 Less Expenses . . . L X T ) PTES 44N Net' Earnings for the vear . .. . .. ., . 1.080,927.34 OFFICERS, DIRECTORS AND INCORPORATORS August E. Wallen Howard S. Hart Angelo M. Paonesea Matthew R. Matinowsky Abraham Buol Paul K. Rogers Isasc D. Russell Carlisle H. Baldwin George Berson * Philip Corbin Patrick F. King Frederick W. Macomber Marcus White Edward J. Skinner John W. Maraland George P. Hart Noah Lucas Emanuel M. DiNonno * Ernest ‘W. Christ ¢ Elisha H. Cooper . Raymond Gilpatric F. MeDon John'B. Minor -Pétrick F. MeDonough Howard S. Hart Edward F. Hall oug "y Frederick A. Searle Elias T. Ringrose Morris D. Saxe James L. Doyle Maurice Stanley Edward E. OTren John Tomaszeski Curtis L. Sheldon Tsaac D. Russell Ernest W. Christ Noah Lucas Maurice Stanley Transferred to Surplu Pardon C. Rickey Eteo’:!ge TI.C Kfi‘(flba“ Sam Waskowitz Stanley R. y Johnstone Vance ii‘a“ nlpehy % .sr'r":;‘h Martin H. Horwitz Rodman W. Chamberlain Baba Y. Jones William H. Hart Louis W. Young Edward F. Hall Carl J. Hart Boleslaus J. Monkiewicz Arthur G. Kimball Thomas Linder Howard S. Humphrey Maurice H. Pease Benjamin W. Alling Richard E. Pritchard Gardner C. Weld Frederick G. Hausmann OFFICERS Edward N. Stanley, President Noah Lucas, Treasurer Charles F. Smith, Vice-President Charles B. Oldershaw, Asst. Treasurer-and Secretsry = | The Largest Bank and the Oldest Savings Bank in New Britai