FRAUDULENT SAVINGS - BA2ocs. —A number of associations have lately
started in the suburbs, the promoters of which profess to afford servants and others moving in the subordinate ranks of society all the security of savings-banks, with a much larger rate of interest than those establishments pay. In one or two cases it is stated that as much as five per cent is allowed for monies paid in; and all the character of savings-bank business being assumed, the party de- positing is permitted by the managers to withdraw, at any time, sums from 11. to 51. If a larger demand is made upon the establishment, proper notice must be given; and should it extend to a greater amount than 251., three months is fixed as the date of repayment. It is not alone the high rate of interest proffered on these deposits, which in ordinary money transactions is not considered as indicating a safe basis of business, that has excited suspicion of the associations, but the stronger fact, that in one particular instance several poor servant-girls who had so disposed of their savings have experienced considerable difficulty in getting them returned when they have applied for them.—Titnes.
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