The herald., 1897-11-07
OFFICE OF THE HERALD,
Los Angeles, Nov. G,

place III the gross oePooits VI tue Ha'iohui
banks throughout the country is the sub
feet OF considerable comment in eastern
Journals. The New York Financier says
that there were in the United States on Oc-
tober 5th last, seventy-six national banks
whose deposits we're in excess of s., 900 900.
On October 6, 1896, only fifty-three Of these
Institutions had deposits that large. or
the banks In the table, the National City of
New York is. of course. the largest, with
gross deposits exceeding s62, 100000. The
First National of Chicago is now the second
largest national bank in the country, with
tSS 900 deposits and 1t is closely followed
by the Hanover and National Park of New
York. Eleven banks of the same city fol-
low In numerical order, and the lead then
falls TO the west, the National Bank Of
Commerce, st. Louis, holding the position
of sixteenth in the United States. and the
largest west of Chicago. In this respect,
however, 1t leads by only a narrow margin,
its namesake, the National Bank of Com
merce Kansas City. A great deal of
credit is due the ST. Louis bank for the
showing 1t makes in this particular, the
Kansas City institution. 1t will be remem-
bered, having absorbed the business of sew
eral local banks during the year. while the
National Bank of Commerce, St. Louis.
has had no aid of this kind. The eighteenth
bank In. the country in the matter OF de-
posits IS the Fourth Street national, of
Philadelphia, which is the largest in the
state of Pennsylvania. and, for that matter,
the largest In the United States. exclusive
OF the four cities named. The widely scat
tered character Of the large banks is shown
In the fact that after having covered New
York. Chicago. Kansas City, ST. Louis
and Philadelphia, the next city mentioned
is Milwaukee, Wisconsin, where the First
national occupies the position OF twenty
second in the National system. The First
national, of Denver, Colorado, is the
largest national bank west of Kansas City,
and II may be added, is the largest in a ter
ritory exceeding in dimensions all that
portion of the United States east of the
Mississippi river. The Boston bank hav
Ing the heaviest deposits occupies the
twenty-ninth position in the list, and the
only other cities represented are ST. Paul,
Mimi; Brooklyn Detroit, Scranton, Pitts
burg, and Cincinnati. The First national
vi SCTdHtOI, located III Il CITY OF less tHdll
one hundred thousand should feel "A nat
ural pride in being in list of this charac-
ter. The First national 1t will be remem-
bered, has larger percentage of surplus
TO capital than any national bank in the
United States outside of New York City.
In this, however, il is being closely pressed
by the Farmers Deposit national of Pitts
burg. which is also in the list of s5,00o00o
banks
In the matter of relative increases by
percentages, the list shows great changes.
The National Eank of Commerce is first
with the proud record of 2l5.29 per cent
expansion. the Third national of St. Louis
is second and the Bankers national OF Chi
cago is third. These institutions have
made an average gain of more than l6G per
cent in their deposits in twelve months,
which is. to say the least. remarkable. The
Union national of Chicago Is next. and pre-
cedes the National City of New York
which is followed by the First national OF
Kansas City and the Wisconsin national OF
Milwaukee. The smaller cities seem TO
have enjoyed an exceptionally profitable
year. and appear well n the head of the list
in percentages. The average gain of the
seventy-siX banks enumerated was 46.7a
per cent. The total deposits of these
banks is now 1866, ,062 500 or an average OF
$12,1ll, 1853 for each bank. The increase in
the deposits of these banks in twelve
months has been s29I 76l. .5Co. or 50 9O5 900 for
each bank represented. On October G.
1896. the same banks held about one third
of the gross deposits of the 1876 national
banks in the United States. If the same
ratio holds good this year ii indicates an in
crease in deposits much larger than had
been anticipated. The actual figures COM
piled from the October, 1897, statements
have not yet been made public. so that es-
Inmates of this character are little better
than guess work.
The emperor of Russia has one estate
which covers over 100000, coo acres, and
which Is. in fact, more than three time =
as large as England: and he has another
estate which is more than twice the size
of Scotland. But an acre in London is
better than 100,o 900 acres in the Russian
steppes. The czar's biggest estate brings
him In only &950O0 year. Land in London
has been sold in recent years for as much
as f1OO square yard. An acre at that
price is worth 94S40, 600, and the interest on
that sum at only 2ls per cent is 9121, 900.
4 + +
The largest farm in the world is claimed
to be in Louisiana, owned and operated by
a syndicate Of northern capitalists and
embraces 100000 acres of land, which was
originally a big pasture for cattle. The
land is devoted to the cultivation Of cot
ton, corn, sugar and rice. East and west
the estate extends 100 miles. The Southern
Pacific railway runs through 1t for nearly
forty miles. A good deal of attention is
paid to raising cattle, of which the syndi-
cate owns 10000 head. The company oper-
ates several steamers on the navigable
rivers that run through their mammoth
farm, and they also have rice mills, ship
yard, ice plant and bank.
There are two objections to the proposed
establishment of postal savings banks
Mr.. Myron T. Herrick of Cleveland. o..
read a paper at a recent convention. enti-
tied "The Savings Bank" and In it said
this: 1T may be said in respect to its
savings banks deposits that the United
States stands alone. European countries
when contrasted with it make a very diff
ferent showing. 1t seems to me that an
argument for government assumption of
the guardianship of the peoples money
must be based on the promise that the
government could employ the money in
carrying a permanent debt, as does Great
Britain and other countries; but the debt
of our country IS not permanent in its
nature, and in prosperous times has been
rapidly liquidated. I am confident there
fore, that in the future, as in the past,
the people will view with misgiving any
movement in that direction. Besides this
scheme is not consistent with the spirit Of
our form Of government"
Another authority says: zone of the
strongest objections to postal savings