Norwich Bulletin Newspaper, January 1, 1920, Page 21

nefimnchl:hemfwtheeommuddlifeofNewlmdonl during the past year by the strong banks of Norwich, have all reflected the im- National bank transactions gun again to show an increase in deposits after a tem- porary intefruption in this due to the use the citizens patriotic subscriptions to relief purposes. record through the war years, found for their money in their warlounandfimdsforw NORWICH BANKS HAVE HAD HEAVY BUSINESS YEAR. According to the observation of Norwich banking men, the year 1919 opened with rather unusual condi- tions in financial circles. In the clos- ing months of 1918, just after the signing of the armistice that brought hositilities in the world war to an_ end, there had been a general business slump which carried over into. the early months of '1919. Call money was easy at 5% per cent and business was hesitating, not knowing what to ex- pect, But the halt in Norwich bu ness conditions was only temporary in a month or two the national s n to feel the efiects of the usiness in the adjustment Call money re- mained firm at that figure ever since, while there has been a tremendous de- mand for accommodation, all of which has been ably met by the financial re- sources of the strong Norwich bank- ing institutions. Little outside com- mercial paper has been bought by the Norwich national banks in the past vear, so great has been the call for money for local mercantile uses. As has beén the report from all over the country, the national banks have nev- er kept their money so busily em- ployed, and it has been a year of good business profits for them. What the business of the year has meant is shown in comparison with the figures for 1918 when the total transactions of the nauonal banks of Norwich reached $240,57%,719. In 1919 total transactions were $302,767,639. Savings banks of the city have re- wich National Banks for the Past Ten Years: - ‘145,648,727 16 113’3;’55?,979 14 173;»7,.10 240,578.719.22 302,767,639.24 sumed their gain in deposits, which was temporarily halted in the war Years by the diversion of the people’s savings into war loans and other calls. How much djversion amounted to can be realized when it is stated in the four war loans in which the total quo- ta for Norwich was $7,500,000, the total Norwich subscriptions were $9,077,900, with 35000 subscribers, jperson for Norwich on an estimated population of 30,000. have begun to show an increase again and with. the close of this year stand at, $31,888,033.74. At the close of ‘last year they were $31,145,503. The Dime Savings bank celebrated on Sept. 27, last its fiftieth anniver- sary of beginning busihess. President Francis J. Leavens, who was a direc- tor when the bank started and has been on th board ever since, presided at the banquet held for the anniver- sary. The bank statement showed that it came to the close of the half HAPPY NEW YEAR Closed All Day, Today THE ANNUAL ECONOMY SALE OF Women's and Misses’ Apparel Great Reductions In Wearing Apparel of All Kinds Now is the time to buy the warm, winter garments, for now the prices have reached the lowest levels. Next season’s prices will be higher than this, so the prudent buyer will take advantage of this chance to buy for this winter and for a year to come. Consider it an investment, not an expense, and get busy. Pretty Coats in Velour and Polo Cloth.” All the desirable colorings and designs. There’s a varied assortment for your selection. Very handsome models in Sil- vertone and Velour, in the best colorings. There are several styles, some trimmed with fur. Values to $49.50. Sporty little short Coats, new and fetching in style. Silver- tone and Polo Cloth, in Copenhagen, - Reindeer, and Brown. Values to $35.00. Coats For Chil young miss would be proud of them. Reduced 25 Per EVERY CENT OF $2.25 COATS $35.00 Coats Now Only $22.50 $49.50 Coats For Only $35.00 The Newest Short Coats For children from 8 to 14, we show a con- siderable number of very attractive coats, in sturdy weaves and good colorings. The Suits, Silvertones, ours, Serges in value to bargains. $22.50 $35.00 $25.00 dren Sale. to own one Cent. HANDSOME ASSORTMENT OF FINE, SHEER VOILE BLOUSES IN ROUND OR SQUARE COLLAR DESIGNS WHICH ARE WORTH B P R S S AP FURS AND FUR COATS AT SMASHING REDUCTIONS | $52.50 Suits For Only $35.00 Splendld variety, up to ‘the minute in style, and running Women’s and Misses’ Dresses A splendid collection of at- tractive frocks, in Tricotine, Jersey, Velvet and Silks. good selection of very recent models is offered in this sale. Values as high as $35.00. Handsome Georgette Sheer Georgette of beautiful quality was used charming Blouses, both white and colored. A variety of very pretty models is offered, values to $7. All Our Dress Skirts All of our handsome Dress Skirts have been reduced in price for this Economy In the lot you will fitd novelty plalds checks, and serges, with all the lat- est style features. Reduced 25 Per Cent. Dresses, Etc. Cheviots, Vel- and Checks a $52. 50 Rare $35.00 $25.00 Blouses in these in 00. $5.00 $LT5 which made an average of 5300 per! Savings .deposits, as has been saidl}“ cles by death during the past year, Col. Charles W. Gale vice president of the Thames National Bank, and John C. Averill, Savii the bank. Col Gale had been with ames. bank since 1865, entering [[it as a clerk. His death occurred on May .21, 1919. Oliver L. Johnson, a director of the bank, was elected vice president to succeed Col. Gale. Na- than A. Gibbs is sistant cashiers are William T. Cran- dall, Leonard P. Church, Walter M. Buckingham, and Henry L. Bennett. Mr. Averill had been president of the Chelsea Savings Bank since March 1915, his death ‘occurring on Aug. 13, 1919. Charles E. Chandler, ‘the well known civil engineer and a'vice pres- ident of the bank, was elected presi- dent to fill the yacancy caused by Mr. Averill's death. % TAXATION VALUES ON BANKS’ CAPITAL STOCK Tax Commissioner William H. Cor- bin has just annownced the value for purposes of taxation, fixed as of Oct. 1, 1919 by the board of equa upon the capital sto tional banking asse surance and inves L In Eastern Connecticut these are as follows for banks and trust compans ies: Par Share Value Valuation NORWICH. . 100 . 100 . 100 pe . 100 National of Commerc 100 230 National ¥V - 1 Windham Bank, .. Willimantic Co., National DA’ ‘Windham CDunlv National Bank, . 100 Danielson Trust Co., 100 Killingly Trust Co. 100 PUTNAM. First National Bank, 100 185 MYSTIC. Mystic River Na- tional Bank, ...... 50 100 STONINGTON. First National Bank, 100 105 BANKS OF NEW( LONDON MAINTAIN FINE RECORD During 1919, the banks of New Lon- don have ‘maintained their record for growth and at the same time have| done their part in the raising of the Victory Liberty Loan. There has been a slow-down indus- trially in and around New London, and it might reasonably be expected that the volume of bankinz business would be somewhat reduced. This, homever, does not appear to be the case. The education which people have received during the past two years has developed an acquaintance and familiarity with banks, has m- creased thrift, ang has kept in cir- culation money which might other- wise have been hoarded. The bank'clearings for the year are estimated. at $270,000,000- -against about $200,000.000, for the year pre- vious. The deposits in the commer- cial banks are approximately $5,000,- president of the Chelsea | cashier and the as- |C. , ing to be erected . for th “| imate! lmou, 00, 5 ik beenimo change in. circles during the Mm‘t with- the ex- ception that the Morris plan com<# pany has been moved from the Mar- liners Savings: Bank to the store of €. C. Perking on Washington steeet. This change was made necessary by the growth of fl:e Mariners savings for the space oc- plan company. resigned as trea- surer of ‘the Morris plan company and C. Perkins was glecteq in his place. Mr. Harwood remains vice-president The NationglBank- of Commerce, for many Years.:ocecupying cramped quarters in: the: Cracker, House block, has purchaged.a site for.a new build- sole use of the bank. :This'property is located on the; south side’sof State street adjoin- ing the First Baptist church. At the g bank west of the ght by many that . this - location was outside banking cent of “the. city, but the docation of the 'new Bank of Com- merce 'huildi at a point one hun- -1000," nd in the savlngs baan approx- ‘ - ~ Norwich $28,581,275 830,355 31,383,033 ‘Savings Bank Statistics forhut m ' Total Amount of Deposiis at the End of Each Year in Savings Banks of New Londo? County “New London Qther T $11,50,250 Totals wes 11,830,822 20,018,673 dred. ang fifty feet west of the Mari- nerg savings bank indicates the bus- ‘With building, every bank in New London will own its own iness growth of State street. the completion of thi. quarters. JOHN P, MURPHY, Postmaster The past year has been the most successful in- the history of the Nor- wich Post Office, The receipts from’ all sources and deposited in the Thames National Bank which is the désignated U. S. depository were $889, the. following 1691 and came from sources: Surplus money order Postal -Account | War Saving & Thrift Stamps | Revenue ' Stamps | Postal Savings !91!1100 $889,691.00 The business of the Norwich post office from Jan. 1st, te Dec. 31st, 1919 is shown as follows: Money Order Business. Domestic Issued. Amount Tees Number *{ Deposits NORWICH POSTOFFICE RECEPTS WERE $889,691 IN THE YEAR tnternational Money Orders. Issued. Main office Stations Amount $1,859.63 Registry Business. Meain ‘office Stations Main' office Insureg Business. 3 Cent fee—15,000 packages. 5 Cent fee—6,500 packages. Cent fee—1,000 packages. 5 Cent fee—300 packages. Postal Saving Business. New accounts opened 2 Balance on hand Money order, registr: insurance increased ({ifty over former vears. C. per 14,800 packages C. 0. D. Business, “cent. There was 3,561, 000 pieces of 'mail. cancelled, exclu- sive of Pargel Post packages, papers & circulars: There dre employed in the office 15 regular clerks, 21 regular carriers, 9 rural carriers, 22 substi- tute cle: city & rural carriers, and § clerksin charge of contiact sub- stations. All necessary repairs: huve been made to the- building so that it I8 in excellent condition,. particularly so as | to its ‘sanitary requirements. The {new lobby doeors ‘to the front entrance have made it possible to have the Iob- by warm during the cold season as Postmaster -John P. Murphy found it impossible to have it so with the old arrangement. There is a new and rger cancelling machine to be in- talled this month; also’ metal shelv- and lockers for ‘the stamp vault. rom the report of. the Postmaster General June 30, 1919, it is shown that there were 19,683 employed in the Railway Mail Service, their average nnual salary being $1,654. Clerks assistant postmasters . with total salaries of The number of city ear- employeq is 35,024. Their com- salaries for the year wWere $59,- The .‘rwerage increase of salaries to postal “employes since June 30, 1813 to June 20, 1919 was seventy per cent. Flirting With the Nomination. Mr, Marshall’'s enthusiastic defense of the striking miners and his care- Main office £00.. . packages H nmee | tUl indorsement-of labor unions would ! Stations ; 200 packages indicate possibly that he is not un- - 1,000 packages mindful that even a vice president has a chance in'an opem Reld —Pittshurgh Dispateh. The Worst Injustice. Suspended train service hits . hard- est the woman who didn’t want to go away until the train she would have gone on, had she wanted to go, was discontinued.—Teledo Blade. lufl Danbury. — Christmas cheer was brought to 25 needy families of Dan- bury -and vicinity by the Salvation Army, who distributed -large market baskets containing good things. Savings Bank Statistics for Last Decade Total Amount of Depasits at the End of Each Year in Savings Banks of Windham County Willimantic $692,454 647.268 Main - office $226, 17,487 Stations 158, 17,590 | Totals 35,077 " “Domestic Paid. X Amount Number Mzin office 22,763 $244,292.94 Putnam Other Towns Totals $2,826,525 $2,266,4% $a 3,380 2,851,538 1,742,412 5,241,368 287 ,154 2,510,126 6,387,137 S, 9 2,476,057 6,342,13/ 2,437,745 5,653310 6,848,970 2; 709,471 1,925,678 2225,537 3,079,012 written. S. ALPHEUS \ FRANK H. ALLEN HENRY H. GALLUP (INCORPORATED 1840) President, H. H. GALLUP Secretary, W. F. LESTER = Asst. Sec’y, A. L. PEALE Treas, W. H. PROTHERO NEW LONDOR COUNTY MUTUAL FIRE INSURANCE CMPANY is one of the oldest institutions of Eastern Connecticut. Through \the magnitude of its busmess and promptness in service it has become one of the most important factors in the fire insurance business in Connecticut. DIRECTORS JAMES K. GUY WALTER F.LESTER CHARLES R. MARVIN GILBERT WILLIAM H. PROTHERO. EDWIN A. TRACY OTTO E. WULF FRANK A. STEVENS N. DOUGLAS SEVIN ome Office Building 5961 BROADWAY, NORWICH, CONN. Strong solicitation is made for local business, and lines will be gladly accepted through any local lmurance Agency. A specialty is made of insurance on private dwellings, household furniture, barns and contents; but mercantile risks, churches, schoolhouses, and public property will also be under- LOSSES PAID SINCE ORGANIZATION OVER $1,000,000