Bushwick High School - Senior Yearbook (Brooklyn, NY)

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N. H. DRILLING COMPANY 4 130 WEST 46th STREET New York C ty N Y

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MUTUAL SAVINGS BANKS An Introduction fCompiled by the Hamburg Savings Bankj ,Inst what is a mutual Savings Bank? In brief, a mutual Savings Bank is an institution, the profits of which, after deducting the amounts necessary to cover the expense of doing business, inure wholly to the benefit of the depositors, or are set aside as surplus for their greater security. Savings Banks came into existence both in this country and in Europe because of the desire of philanthropists to encourage self-providence and better living conditions among the poor of their countries. The Savings Banks accept the savings of their many depositors for safekeeping. The funds fdepositsj entrusted to the Savings Banks are invested principally in bonds and mortgages under strict require- ments of law and always with the safety of the funds in mind. In this manner the Savings Banks earn money to pay expenses, to pay divi- dends to the depositors and to set up reserves for the protection of the depositors. The Savings Bank have grown with the years. When additional services were needed by the depositors, they were provided so that today the following services are available at most mutual Savings Banks: Savings Accounts, Savings-Insurance Accounts, Mortgage Loans, School Savings, Payroll Savings, Safe Deposit Boxes. Savings Bank Money Orders, Savings Bank Life Insurance, Loans for Moderni- zation and Repairs, Banking by Mail, Christmas Club -Accounts, Travelers Checks and Foreign Remittance. In addition. there are many other services which a bank such as the Hamburg Savings Bank renders to the community it serves. In cooperation with the local police precinct, safety programs are provided in the neighborhood schools. Motion picture programs, both educational and entertaining. are available at no cost, to connnunity clubs and organizations. Christmas programs are provided in local movie houses and at the bank for the children of the area. In order to be of further service. the personnel of the Hamburg Savings Bank is constantly active assisting neighborhood drives such as Red Cross, Salvation Army, Boy Scouts, Girl Scouts. United Hospital Campaign and many others. Savings Banks occupy an important place in the life of the communities they serve. Offering the best in modern, convenient banking services is a part of their duty as good connnunity citizens.

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TWining 4--7000 ILlinois 9-5000 GLENRIDGE FARMS, Inc. APPROVED DAIRY PRODUCTS 56-38 58th STREET, IVIASPETH, L. I., N. Y. MUTUAL BISCUIT CO., INC. FFV COOKIES TRianglc 5-2136 - 2137 The Better Pie CALIFORNIA PIE and BAKING CO. 339 DOUCLASS STREET Brooklyn, New York IIC. STARR PHARMACY 42 ST. NICHOLAS AVENUE Brooklyn 37, New York Prescriptions Our Spcriafly Ts-I EV 2-9211 EVergreen 6-4266 Res.: Rlfpublic 9-8975 HERMAN BACKMEIER Wlwle-ale aml Retail PRIME ISICICF. IWIUYISIUNS 8 PU1i1.'I1l1Y 717 Knickm-rliockr-r Ave. Brooklyn 21, N. Y. The same delicious milk and chocolate drink which is served to you in your lunchroom may be purchased from your neighborhood grocer. EASTERN FARM PRODUCTS, Inc. 390 OAKLAND STREET EV!-:rgreen 9-4-630 Brooklyn, N. Y.