| Show frankforth Frank forts system of banks of all the schemes designed for email savings and to encourage the poor to lay by small sums the penny savings stamp system established in 1882 on the main is the most frankfort is distinguished aloag european cities by the large average wealth of its citizens and by its exceptional prominence in all that pertains to banking and finance many great banking families had their origin in frankfort from which branches have been established at paris london vienna and new york there are today not less than banking houses public and private in the city it might naturally be expected then in view of these facts that some original features in the line of savings banks should be found there the frankfort savings bank is a private corporation established in 1823 nearly seventy years ago when frankfort was a free city and independent of all state allegiance and control it began with depositors with marks to their credit in 1889 there were depositors with an aggregate capital of marks the receipts and withdrawals that year being and marks respectively there are three departments connected with this institution the savings deposit bank which comprises a central office and two branches in different parts of the city the weekly savings bank a separate bureau under the same management but differing from it in that it collects from each depositor a stated weekly deposit and the penny savings institution which is adapted to the methods of the humblest class of depositors whose savings are limited to a few pennies per day or week new york recorder |
