The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-03-15
sAvANNAR's MONEY POWER.

AMe9ni1cent Galaxy of Strong Banks
and Loan Compantes-A City OF the
Soundest Commercial Methods and
Financial Institutions.
BY COL. I. W. AVERY.
Advdnce Proofs Baltimore Manufacturer
Record. German Translation By Arno
KnOTT.
Savannah, with her great and varied
commerce and unusual ocean and railway
transportation, has necessarily had to have
the best banking facilities, and has as strong
and well-handled q lot of banks as the
whole country can show.
Probably no city Of the south, and really
OF the United States, can surpass this place
in the sound methods and solid stability of
her banking institutions, and none are both
more safely and enterprisingly managed.
The transactions OF Savannahs clearing
house last year showed $1,000, 900 Of BUSH
ness exclusive of that of her private banks,
or IS, 100000 month, and it is doubtful if
any southern city outside Of New Orleans
could equal this. With all OF her banks in
cluded her clearances would run to over
500 600 900.
Savannah's financial business is especially
rich in foreign exchange, and last Year the
rates of exchange aiutained a very high
standard and several times exceeded the cost
of exporting gold.
The bank!capital, surplus, deposits and
loans are as follows:
Merchants National Bank. capital $780,
600, surplus S200,000, deposits Sab, 600,
loans, ETC.. 81, 10, 900. business 81 1854 900.
Citizens Bank, capital 100000, surplus
$74, 900, deposits S522,0O0, loans. etc.,
ST. 1l2, 900, business 81, 1888, Ala.
Southern Bank, capital $4,000, surplus
100000, deposits 81, $4,000, loans, etc.,
S231S. 600 business SO 35l 1856
National Bank OF Savannah capital $780,
900, surplus Sl53,5S9, deposits $441 ,867,
loans, ETC., S739, 7S6, business 1899, 90S.
Savannah Bank and Trust Company,
capital 100000, surplus S48, 5000, deposits
$685., 225, loans, etc, S943, 1856, business Sl,-
159, Sl3.
Germania Bank, capital $500, 900, surplus
$l2,32S, deposits 1898, 752, loans, ETC., $685.
SOL, business S570,0
Chatham Bank. capital $3.50 900. surplus
$4,000.
Oglethorpe Saving and Trust Company
capital Sl25, 900, surplus $31 900.
Title Guarantee and Loan Company,
capital Sl39, 400, surplus SIS 900.
Savannah Savings Bank, capital S62. 800
The building aud loan and real estate as
socatlons are large, enterprising, and -four
ishing Among the leading ones are these
Chatham Real Estate and Improvement
Company, capital S5O0.000.
"a Sauuan InVeStuleht company capital
$500, 000
Merchants and Mechanics Loan ard
Building Association, capital $500, 600.
Excelsior Loan and Investment Company,
capital $40, COO.
German American Mutual Loan and
Building Association. capital 100000.
homeseekers' Mutual Loan Association,
capital $1,000
Equitable Loan and Building Association,
capital 100000.
Savannah Real Estate Loan and Build
Ing Company, capital $l25,000.
Savannah Cottage and Improvement Com
panY, capital 800, 900.
New South Building and Loan Associa-
ton, authorized capital $50, 900. 600.
ational Assured Building and Loan As
ISOLATION, authorized capital 1925, 600, 900.
With ten banks of over s. 600, coo capital
and 81 100000 reserve, with 5000, 900 of
deposits making $1,000 600 of loans and
discounts and aggregating $40 100000 of
business, it will be seen that the city does
great volume Of money dealings, represent
Ing massive current of commerce.
Add to this aggregate Of straight banking
operations. representing daily trade over
tne world, the transactions OF the dozens
and more real estate, building and loan in-
eVtutions, with their 5000, 900 OF money,
IMPROVING property, erecting homes and
creating values and it will be found that
savannah is very active place in its tinan-
cial progress.
p One large banking institution, the Central
railroad Bank, has been a powerful factor
III Savannah's prosperity and advance in
commercial power. Backed by the 81 $780,
wv OF the Central railroad. 1t has been one
Of the leading financial establishments of
Tue south. In consequence OF the road be-
ing IN the hands of able men for rehabili-
tauon, the transactions of the bank have
9een temporarily and purposely diminished.
normal functions the bank will soon be-
come anew the powerful money agency in
oavannah's and the states remarkable de-
velopmeDt.
The details OF these banks will be dis
oussed in another article,