Abstract

Hamstringing: the Mutuals
Curtis, J. C. | October 1, 1930 issue

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The article focuses on the mutual savings banks in the U.S., the most successful examples of cooperative enterprise. They have in aggregate ten billion dollars of assets and they deal with twelve million steady customers. There are about 600 of them and a large proportion are considerably more than a century old. They have no stockholders, but belong instead to their' depositors exclusively. They hold about one-fifth of all bank deposits in the country. Their mutuality, it is due, is diluted by the fact that borrowers have no rights in them comparable to what depositors have, but this is one of numerous imperfections that do not offset their essential significance as cooperative enterprise.

See Also:

SAVINGS banks; BANKS & banking, Cooperative; CAPITALISTS & financiers; ASSETS (Accounting); BUSINESS enterprises; UNITED States
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