The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-04

The financial and business interests Of
Savannah has indicated on the pages of
the ledgers of the banks, have not suffer-
ed during the past year, despite the much
talked about ''hard tines and it is strict
ly within the bounds of conservative cal
culation to say that the prospect for the
approaching fall, and winter season is I'M
usually bright
More money has been released by the
banks of the city within the past month
or two than for several years during the
corresponding months of any year The
best part of it is that this money has been
invested in new business enterprises. and
keenly felt need of money but through a
purpose of investment and for the enlarge
ment of business in every line.
Much of the money that has been loaned
by the Savannah banks recently has gone
to the smaller banks in neighboring towns.
and they, in turn have let it out for such
purposes as named above. This serves to
show how the country around Savannah
is steadily improving, and how the bust
ness enterprises are in such condition as
give the local bankers of the smaller
towns reinsurance, and cause them to
lend money more freely than was the case
at this time a year ago.
A city, backed by a banking capital of
$,6950O0, with $S7S,S60 reserved, is capable
of meeting all the demands that NAV he
made upon it in the line of Improvement
and If financial strength is the only thing
required to induce a continuance of ma
terlal upbuilding and business activity.
Savannah is fortified strongly.
A canvass of the banks of Savannah
shows that there is more gold coin now on
hand than has been stored in their vaults
Tor long time. Last year it was a rare
thing to be paid gold currency over the
counters Of the banks in the south 1t is
different this year. There is more gold
coin in any one of the banks of the citv
perhaps at this time than was in all of
them at this time last year. This state
ment is Vouched for by the leading bank
ers of the city.
1T indicates that those who have held
the gold currency stored away for the
past year or two have at last released
1t, remarked one of the most prominent
financial men of the city, and this is Dret-
~ much the story they all tell,
The bankers are looking forward 10 a
brighter and better season this fan and
winter than Savannah has had for several
years, and this is saying a great deal
Last year at this time money was tight
everywhere. Particularly in the south
When the fall came on and the cotton
crop was being harvested it was pretty
generally understood by the farmers that
they would hold their cotton until after
the election, hoping that the price would
take leap upward after the national
campaign was wound to a close This
was one of the things that initiated
against prosperity, The banks would nor
lend much money, and business in this
section of the south was at a standstill,
pretty much.
These conditions do not obtain this wear.
Everything is changed A natural tide of
business has set in and will not be check
ed by any undue influence. The money
that is being borrowed is not for the pur-
pose of tiding over any such waiting
spell" as thLs mentioned as having pre-
vailed last year. On the contrary il is
loaned on legitimate business enterprises
all of which are prospecting.
I'VE have more money loaned out now
than last year at this time, and at the
same time our deposits are much larger.
said one of the banking men of Savannah.
The clearing house figures show that the
business for the year by the monthly re-
ports, has been a steady, healthful trade.
The opening up of bushes for the fan and
winter will soon be on, and the prospect
is extremely hattering
The business year just closed was one
OF anxiety and unsettled opinions during
a part of the time. The change of gov
eminent, involving possibly a less firm
control of national finances served TO
make hnanciers extremely careful, at
least, until the adjournment of congress.
There was. however, a plenty of money
available for all legitimate and well-bas-
ed business purposes. The railroad stu