SAVINGS BANKS.    421

SAVINGS BANKS.

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Considerable space has been devoted relative to the standing
of the several savings banks in the State, as to their present condi-
tion and their officers. There are no money institutions in the
State, in which so many people have an interest, as in the savings
banks, now numbering over 95,000 depositors, with $ 29,671,114.18
on deposit. They have increased from twenty-one banks, in 1858, to
sixty-one, in 1873, having at the first date, 23,463 depositors, with
$ 3,588,658.23 on deposit. They were first established as beneficent
institutions, to protect the small funds of widows and orphans, and
the earnings of farmers and laborers, who receive a trifle more than
they expend. These savings banks fully establish the theory
of cooperation, and what can be one by it in any branch of busi-
ness in the State. No private money monopoly can stand for a
moment beside the.-e banks, controled by, 95,000 persons, who own
this vast amount of money, nearly all of which has been accum-
ulated within the past fifteen years, and enough to build, and stock,
all the cotton factories in the State.

Properly conducted savings banks, are an immense advantage to
the community. They aggregate small and idle sums, and help
largely to build up towns in the vicinity where they are located,
but if all the spare change is collected, and sent out of the State,
there is a question about the practical benefit of such institutions.
It should be remembered that high usury, for money loaned, incurs
greater risks.

ALTON SAVINGS BANK—ALTON.

Incorporated 1869. Charter expires 1889.

Presidentr—Henry Hurd.

Treasurer—Amos L. Rollins; salary, not fixed; bond, $25,000—a
copy of which is on file in office of Secretary of State.

AMOSKEAG SAVINGS BANK—MANCHESTER.

Incorporated 1852. Charter perpetual.

President—Moody Currier.

Treasurer—Moody Currier ; salary, $ 3,800; bond, $ 150,000—a copy
of which is on file in office of Secretary of State.

Clerks—George B. Chandler, Cashier; C. M. Currier, Teller; G. L.
Hadley, Book-keeper.

ASHLAND SAVINGS BANK—ASHLAND.

Incorporated 1872. Charter perpetual.

President -Nathaniel Batchelder.

Secretary—Jonathan F. Keyes; salary, $200; bond, $25,000—a copy
of which is on file in office of Secretary of State.