Savings bank sag sets June mark

The nation's mutual savings banks experienced a net deposit outflow of $1.4 billion in June, a record loss for that month, according to figures released by the National Association of Mutual Savings Banks.

"As one measure of just how serious the situation is, our industry's first-half outflow of $6.2 billion is rapidly approaching our worst loss for a full year -- a $7 billion outflow recorded in 1979," associati on president Saul B. Klaman commented.