New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-10-24
THE STATES PROSPERI1 Y.
BENEFICENT WORkING OF THE M'KINIEY
LAW AGAIN SHOWN.

STATE BANK DEPOSITS INCREASED OVER
slsOooOOO IL THE TWO YEARS SINCE IT'S
ENACTMENT-AN INCREASE OF NEARLY
$4,000 900 IY SAVINGS BANK De
PosITS IN THE EIGHTEEN
MONTHS ENDING JULY 1.
fvnoaA srAFF coRREsroHprYT oY THF rRrRrSr.l
Albany, Oct a3.-Charlcs NJ Preston, the Demo
cratic Superintendent of the BANK Department,
has again kindly furnished to the voters of the
State important information showing the pres
pcrty Of Ncw-York State since the Mckinley
Tariff act was pa SCI "a " in October, 1890. ms
time Mr. Preston shows the increase Of deposits
in the State banks and the greater amount oil
the resources of these banks since the noted tarif
act was passed. Llr Preston every four months
following the directions OF the State law publishes
a statement showing the financial condition OF
the State banks at the time of the issuing OF
this statement Ills statement for the quarterly
perod ending September 90, 1892 ls just COM
plctcd and will soon be printed in the Official
papers of the STATE. This document can b. com
pared proitaby with similar statement inade
by him regarding the condition OF the State banks
on September -, 1870, or "A few days prior to
tbe day when the Mckinley Tariff act became
law. The comparative table below shows the IN
creased prosperity Of the dcposiors and ol the
stockholdcr, in the State banks since the Mchn-
lev Tariff act went into operation:
Due dcposiior- ia state banks on sept"m q, =, e, o,-
Due e'' dcIosors in STATE banks scptcm- ,,o -,
Der p. 1880 l'','''
,,crooso ., ecnot................. SIS ~ $50
But the State banks themselves also pro~pcrcd.
Thus there was the following increase IN thclr
resources:
Total rou5ccs of State banks on seP''m ..7. 1913 600
h.r goo
Total resources Of State banks septm- c. ,oc
Der q, 1880
Increase OF resources. f2'l"o3of
This statement Of Superintendent Pres on is the
more markallr since, a. every ore knows iour-
ffths Of the banking capital of tie state is in
vested in =, National banks and most dcp'stois
usc the National banks. The same statement
shows that the capital OF the Stale banks has
mounted between September -, 1890, ana sep
,cmhcr %, Is92, from $29,jJ9,s2j 10 S32,335,-
7oo-an increase Of S2,gg3.s75: and that the
loans and discounts of these banks in the same
period ha ;c increased from =. i7.4iH.ol7 10 81
5222li, an advance of S2o.oSl,39l
Mention has heretofore been made in The Irib-
| me of the increase of deposits In III" Savings
hanks in 1891, the year following the passas" OF
the Mckinley act, that increase amounting 10 3l'
755I43. But the present year the savings nahk
deposits have been still larger in amount SHOW
ing the constantly increasing benefit "hich the
laboripr men Of New-York state derive from the
new t,rin law Superintendent Pr'stons reports
concerning the savings banks give the lo"o"inb
highly interesting totals.
Amount due .ayings hank dcpos';or' on n.oo s oa a.,
.%oSnt 1sIy due ss' Swing, bank dcpoeitor, on
-. - 100 o5s 20
In other words. two months after the passage
Of the Mckinley act--that is, on January /. lsoi-
the depositoIs in the savings banks OF the St''e
had 70 their credit tie sum Of Sj74 500, ,972 80;
and ciohtccn months aftcrward. on July /, 1892,
the Mckinley act all the time beng in operation,
they had 10 their credit the sum of S6lO,J6o,-
C31 35: mn incrcu>c Of S3j,S9o,o5 10. Inc
workinemen of Ncw-York state wer" thus S'''-
500 O5e 80 wcalthcr eighteen months lat"r thAh
they were the day the Mckinley act Vent iil''
active opcraton. II is the more surprising that
their savings bank deposits Increased TO such
LARGE amount. since aS already shown In The Irib-
unc they invested in building and loan associa-
tons in the cour~c Of thc year 1891 the large sum
of SIe,sg72O; an incrcosc of more than $1,000
900 in the amount of their investments IN tbs
dir elton over that of the year $50, when the
Mckinley act not in existence
The financial statement by Democratic oNcial'
nroyinr the benefit to- workingmen and to en-
Movers alike Of the Mckinley act IN Nrw-lork
State have row had added TO their number that OF
| { commissioner Preston, showing the prosp rity oi
the State BANKS and their deposiors. Perhaps 1t
would be well 10 add these recent figures to the
other, previously printed by The Tribune Here
is the interesting table, with the latest figures
added
Net Increase Of wages NewYorh state.
| in 1891 as reported by Commissioner
Peck (Dcm.) so'||'o~'
| Net increase OF production. New York
| State. In 1891, as reported by TOM
| missioner Peck Dem l..-........-.-.-- 3i3io'i'o
Net increase Of sayings bank deposits.
| New-YOrk State. In 1891 rs reported
| by Superintendent Preston (Dem.).... 13'1ooAio
| Amount invested in building and loan
| associations New York state In 1891.
as reported by Superintendent Preston
nemI ....................... Is.7s0.72O
! Increase In valuation Of real and per
eonaI property New-York state. In
| 1s9I as reported by Democratic Board
OF Equalization io@'of',|'o
Increase Of sum due savings bank de-
| posl,ors I'm the eighteen months,
January l. 1891, to July l. 1902. as
reported by superintendent Preston
(Dem.) o''Soo'""' ~
IncreaAe Of deposits in State banks
| from September ~, 1880, to sep
| tcmbcr 22 1891, reported by
| Superintendent Preston DEM 1e,213,S"o
Increase OF resources OF State banks
| from September ~. $780, to sep
-embcr -. 1891, reported by
| Superintendent Preston Dem.)...... a,l3O,3O4
| THREE MEN KILLED IN RlILW1Y WRECK.
| Clarks. Neb, oct a3.-A Union Pacific freight train
| was thrown over the track at Iavens siding, SIX
| miles east OF here Fourteen cars and coal were
| te lgIipS