SAVINGS-BANKS (ante). While in England no laws were passed affecting the organization of savings-banks until 1817, in Boston, Mass., one was incorporated Dec. 13, 1816, and began business in the following spring. In 1818 this was followed by the incorporation of savings-banks in Salem, Mass., and Baltimore; and one in Philadelphia in 1819. In the latter year they appeared in Hartford, CORR. ; Newport and Providence, IL I.; Bristol, B. I.; and Portland, Me. The following statement for 1876, of the first nine savings-banks incorporated in the United States, includes the names of all those above indicated, excepting that of Portland, which failed in 1838, and of Bristol, R. I., which never organized: The mode of organization differs in different states, sonic banks being organized on the mutual and some on the joint-stock plan. In some states the incorporators are author ized to add to their number, and to elect therefrom trustees or directors. In others the
trusteeship is vested in the corporators, who may sometimes fill vacancies, while in some cases these are filled by external and appointed authority. The following tables exhibit the resources and liabilities, number of depositors, amount of deposits, and aver age to each depositor for the years and in the banks designated: Between 1871 and 1877 18 savings-banks failed in New York city, depositors $8,973,093. There were in that city at the close of 1880 24 savings-banksdoing busi ness. In the gate of Massachusetts 14 savings-banks have beep placed in the hands of receivers between 1875 and 1880, and are under perpetual injunction. The amount due depositors by these banks was $9,976,229.05. The number of savings-banks in Massa chusetts, Oet. 31, 1880, was 164.