Public Institutions. 



277 



HINGHAM CO-OPERATIVE BANK. 



In the spring of 1889, a number of young men of Hingham, 

 learning of the success of the Massachusetts co-operative banks, 

 their almost absolute safety for depositors, the advantage of and 

 encouragement to saving offered by their system of monthly de- 

 posits, ranging from one dollar to twenty-five, according to the 

 desire of each shareholder, the immediate participation of every 

 dollar, as soon as paid, in an equal share of the profits of the in- 

 stitution with every other dollar, their advantage to borrowers by 

 giving them the opportunity to repay their loan in regular monthly 

 payments together with a small ultimate cost for interest, and 



