Professional and industrial history of Suffolk County, Massachusetts . and while the latter limit seemsunnecessarily large, if a low rate of annual dividends is insisted uponand fraudulent trusts prevented, the prowlers who prey upon thischarity mav be driven away and this advanced limit only availed of bypersons who deserve the privilege. In New York one rate of interestis allowed on all sums not exceeding $500, one per cent, less on surplusover $500 and up to $1,000, and one per cent, less on the excess over$1,000. The defalcations in the savings banks in Great Britain from 1844to 1857 amoun
Professional and industrial history of Suffolk County, Massachusetts . and while the latter limit seemsunnecessarily large, if a low rate of annual dividends is insisted uponand fraudulent trusts prevented, the prowlers who prey upon thischarity mav be driven away and this advanced limit only availed of bypersons who deserve the privilege. In New York one rate of interestis allowed on all sums not exceeding $500, one per cent, less on surplusover $500 and up to $1,000, and one per cent, less on the excess over$1,000. The defalcations in the savings banks in Great Britain from 1844to 1857 amounted to $1,330,000, of which the depositors lost about one-half, the balance was made up by government and the trustees, but thedistrust and recklessness caused by these frequent and wide-spreadfrauds was out of all proportion to the pecuniary loss. As the mosteftectual safeguard against malversation, it was enacted that not lessthan two persons, being trustees, managers, or paid officers employedfor this specific purpose, shall be present on all occasions of public.
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Keywords: ., bookauthordaviswil, bookcentury1800, bookdecade1890, bookyear1894
