The Meeker herald., 1893-08-05
st. LOUIS BANKS
Cash on Hand Amounting to Over 90
Per Cent of Cash Liabilities.

Per Cent of Cash Liabilities.
ST. LOUIS, July 27.-The St. Louis
clearing house has prepared state
ment showing the exact condition OF
the twenty-iour banks which have
mem bership in it The statement has
been prepared with great care and
shows that deposits payable on de-
mund at all these banks amount to
s44, $50, 900. The cash on hand amounts
to S1s,223, 600, or considerably in ex-
cess of 40 per cent of the total. Under
ordinary conditions 25 per cent is con-
sidered n safe margin and it is felt
that with nearly i3 per cent on hand
almost any kind of run could be
easily met. There has not, how
ever, been breath of suspic-
ion against any bank, and although
very large number of small deposit
ors are said to have withdrawn and to
have placed their money in safe de
post vaults, there is no evidence to
prove that this is SO, and the fact is
not generally credited. The banks
have time deposits amounting to near
ly $4,000 0O, while they have out
standing on demand and time loans,
exclusive # bonds deposited to secure
circulation, S62, % O,000. The capital
stock and surplus funds of these banks
opinion tnat the figures as returned by
them indicate an exceptionally healthy
condition and go to prove that there
is very little foundation for the dole
full forebodings which have appeared
in some eastern papers. If the banks
of all the large cities are as well
equipped as those of st. Louis, there
Will be very little financial stringency
when the fact becomes generally
known.
Building continues with great
activity in the city. The new Union
depot and the new $4,000, 900 hotel are
both being pushed towards compile
ton us rapidly AS possible, and the
fourteen-story office building on Olive
street, six blocks east of the EXPOSE
tion, will soon be out of the hands OF
the contractors. The site has also
been purchased for another hotel near
the Union depot, and there is also
much activity in the way of bridge
building. Up to within three or four
years ago the Eads bridge was practi-
cally the only means railroads had of
crossing the Mississippi river in this
section; now the merchants bridge is
in general use, and bridges which will
be of great Importance TO railroads
are being constructed over the Mis-
souri, river ut belltlOU tame anu over
the Mississippi at Alton. Both the
bridges are within easy driving
distance of the city and they
will be used by the burlington
and other roads for obtaining
access to the city without wasting
time at the relay depot in East ST.
LOUIS The distance between ST.
Louis and Alton will be reduced by
these bridges to sixteen miles, short
ening the time distance between St
Louis, Chicago and eastern points
from thirty to fifty minutes. A new
passenger depot will be erected for the
convenience of friends using these
bridges, which can also obtain access
to the Union depot by means of new
belt line.
The first shipment of hay ever made
from st. Louis to Europe has just been
completed. 1T. Louis is the center of
an immense hay district, but the
cost of shipment and the difficulty
in keeping hay IN good condition
through long ocean voyage have
kept shipments to Europe back. There
being, however, large shortage in
the French hay crop an experimental
shipment was made to France the
other day and If it proves n success
another important export business
will be built up. The hay was
shipped via New Orleans.