Excerpt from Annual Report of the Commissioner of Banks for the Year Ending October 31, 1922, Vol. 1: Relating to Savings Banks, Institutions for Savings, Trust Companies and Foreign Banking CorporationsIn presenting the annual report of the trust companies for the past year, it is with no little satisfaction that the Commissioner of Banks, after careful study and as the result Of all information ...
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can report that, in his opinion, the trust companies in Massachusetts are on a firmer basis to-day than for several years.This is the first year Since 1904 that no new trust companies have commenced business. Due to the consolidation of five com panics with others and the closing of one trust company by this Department, there are at the present time 104 trust companies in this Commonwealth doing business instead of 110 of one year ago. These companies Showed on December 31, 1921, total resources of a decrease of Since November, 1920, this being for the most part in the commercial departments. During this period the only gain shown was in the trust departments and amounted to The savings departments have decreased in assets, this being due to the closing of the five trust companies now in the possession of the Commissioner of Banks.It is interesting to note, however, that the aggregate deposits in savings departments of all other trust companies have increased. The average deposit in savings departments of trust companies on October 31, 1921, was or less than the previous year.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.