IMMIGRANT INSTITUTIONS 
113 
While the aggregate sum held by these 31 banks is 
comparatively insignificant, yet it represented the 
savings of over 3,000 laborers, the average of de 
posits being $65.45. The extent of this business is 
well illustrated by the investigation made in Massa 
chusetts, which gives the number of immigrant bank 
ers furnishing bonds to the State Treasurer and the 
amount of money received by these bankers as de 
posits and for transmission abroad: 
YEAR 
NUMBER 
AMOUNT 
I907 
68 
$5,635,722.63 
1908 
59 
4,451,940.26 
J 9°9 
64 
4>3 00 -953- 00 
1910 
85 
6,377,84900 
1911 
76 
6,336,72700 
1912 
97 
7,110,860.00 
TRANSMISSION OF MONEY ABROAD 
Immigrant banks act as agents in the transmission 
abroad of immigrant money.* 
The amount of money sent abroad by various cor 
responding banking houses of immigrant banks in the 
two and one-half years ending June 30, 1909, was 
$*41,047,381.92 in 1907, $77,666,035.46 in 1908, and 
$30,780,645.65 January 10th to June 30, 1909. These 
figures were furnished "by four general banking houses, 
the financial departments of an express company and 
of a steamship company and three large Italian banks, 
including the New York office of the Bank of Naples. 
f A s a rule, immigrant "banks in the interior communities do not handle 
thfm 8n mone y except as an accommodation to their patrons, buying from 
anri m SUc k. small sums as are not exchanged upon their arrival at New York, 
securing for them, usually from New York or local banks, such as 
y may wish on departure for Europe.