The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-05
BANKS IN GOOD CONDITION.
THEY HAVE AMPLE MONEY TO SUP
PLY THE DEMAND.


The Uncertainty rs to the Financial
Situation the Only Thing Bankers
Are Worrying AbOut-NO Lack of
Capital to Meet Demands For the
Movement of the CrOps-The Far
mers Largely Responsible for the
Satisfactory Condition of the At
fairs.
The opening of the season of 1867 finds
the Savannah banks as well qualified to
cope with conditions as at any previous
time in their history. No inroads have
been made upon their surplus and capital
during the year, there deposits are large
and the volume of business is eminently
satisfactory.
Their position is so well secured that
even the lowering clouds of political and
financial agitation do not disturb their Sc
renity and they await with equanimity
whatever the future has in store for them.
Even should the worst come and free sill
yer reign, and the bankers seeming to re-
gard this as the worst thing that could
happen for themselves and everybody
else, they feel confident of their ability to
weather the storm and ride over the
| changed conditions.
All of the bankers who were interviewed
by the Morning News for the trade review
| take rather rosy view of the
situation and are inclined to COM
miserate their friends in other sections
of the country whose surroundings are not
so satisfactory.
| n
that the credit for this satisfactory con-
diHon of affairs is attributed largely to
the farmers and the way they have man
I aged things for themselves and their al
lies the merchants the factors and the
| bankers.
| The present early movement of cotton,
| with the comparatively good prices OBJ
! tanned, the bankers say, make them prac-
tically independent of New York. The
Savannah banks have ample money on
hand to supply all present demands for
the movement of the cotton crop, they
| say, and with the ready movement of the
crop now in progress this supply is being
| continually increased rather than dimin-
| shed.
"Our situation is an eminently satisfac-
| tory one" said Mr.. Horace A. Crane vice
| president of the Southern Bank. THE
| early movement of the cotton crop is the
most fortunate thing that could have
| happened, as it insures a plentiful supply
| of ready money for this section. Before
| November practically the whole of the
cotton crop in this section will have been
! marketed. The merchants and factors
| are being rapidly paid up the amounts
they have advanced, and their accounts
are being squared with the banks. Not
the least satisfactory feature of the sit
uaton is the condition of the farmers.
This crop has been produced upon very
economical basis, and at present prices
there is fair margin of profit for the
farmers. Fortunately for them the inn
mense cotton crop which was predicted
and which many of them seem to have
planted for will not be realized, and with
the present crop outlook prices are likely
to remain good Georgia has been es-
pecially fortunate in this regard.
! While poor crops are reported
in spots, tine state has, as US
ual, produced a good cotton crop, and
by the misfortunes of Texas and other
sections we are enabled to market 1t at
good price. AS we are not to blame
for the misfortunes of Texas and Louisi-
ana we are privileged to rejoice in our
own good fortune. With farmers and mer-
chants both independent, as now prom
Uses to be the case Georgia will certainly
be on a solid financial basis and well able
to weather whatever storms may arise
after November"
Mr.. NJ. B. Lane, vice president of the
Citizens Bank, took an equally roseate
view of the situation.
with plenty of money in the banks
and more coming in daily as the cotton
goes forward" said he, farmers receiv
ing a good price for their cotton, guano
notes being paid up rapidly and accounts
squared with merchants and factors, we
are in a fair way to get on the top wave of
prosperity The naval stores season Is
drawing to close and the factors are
sduaring up with the banks By end of
October all our products will have been
marketed and we will be entirely safe
from whatever evils may come after No
vember Farmers, merchants and bank
ers our conditions are all entirely sound
and there is every reason why we should
try to maintain the present standard OF
| values.
Business with the banks during the year
has been fairly satisfactory. There was
considerable improvement over the
previous year, as is shown by the clear
ing house statistics The clearances for
the year just ended were nearly $780, 900
greater than for the previous year. The
total cIearances for the year 1866 were
$l26, O92 507.2O, as compared with $l1S, 1885,
1876. being an increase of ST. 9O9, 81. 05
There was a steady increase up to April
and a slight decrease after that month
as compared with the same months of the
| previous year, the decrease during the
spring and summer being attributable to
the very low price received for naval
stores.
With the conditions stated the bank
| ers believe that business should be good
during the fall months.