Statement of Condition — January 1, 1948

ASSETS

Cash on Hand and in Banks   ................................... $ 10,253,507.01

United States Government Bonds   ......................    158,2.53,810.88

Bonds Guaranteed by United States

Government  .......................................................................            881,150.00

Veterans' Mortgage Loans    .....................................        12,745,183.59

F.H.A.  Insured  Mortgage Loans..........................      21,558,030.15

Other First Mortgage Loans, Less Reserve ,       68,332,379.18

Investment in Savings Banks Trust Company

and Institutional Securities Corporation             1,419,600.00

Banking   Houses   .....................................................................         1,750,000.00

Accrued Interest .....................................................................            826,395.53

Other Assets .............................................................................            224,739.02

8276,244,795.36

LIABILITIES

Due 212,364 Depositors ................................................ $254,037,545.75

Other Liabihties ....................................................................        1,883,249.61

Surplus for the  Protection  of  Depositors  at

Investment Value...........................................................      20,324,000.00

$276,244,795.36

Member Federal Deposit Insurance Corporation
 

TRUSTEES

George E. Roosevelt,   Jst Vice-President and

Roosevelt & Son           Chairman Executive Committee

Walbridge S. Taft,   Secretary of the Board
Cadwalader, Wickersham & 'I'afi

Ernest Iselin, 2nd Vice-President

Percy S. Vermilya, Srd Vice-President
President, Vermilya-Brown Company, Inc.

Rowland R. McElvare

Senior Executive Vice-President

DeCoursey Fai.es,  President

Samuel A. Welldon
Chairman of ihe Board,

The First National Bank of the City of New York

HowLAND S. Davis

Executive Vice-President, New \ovk Stock Exchange

O'Donnell Iselin

Robert H. Craft

Vice-President and Treasurer,
Guaranty Trust Company of New ^ork

Lucius Wilmerding

Harris, Upham and Company

George T. Bowdoin

Thatcher M. Brown, Jr.
G. H. Walker & Co.

Roland F. Elliman

Vice-President, Douglas L. Elliman & Co., Inc.

Theodore T, Scudder
Scudder, Stevens & Clark

John Fiske

President, Fiduciary Trust Company of New York