The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
SAVANNAH'S TRADE YEAR.
Continued from Third Page)


FIN ASs
From business and financial standpoint
the past year has been one OF unPreceutu'-
ed prosperity for Savannah. Trade mas
increased in every line, and collections
have been remarkably good Inc wave
of PROSPERITY that followed the termlna-
ton of the late war has been in evidence
here, as much so as anywhere. w ME
the soldiers placed large sums In clrcu-
lauon. farmers and manufacturers nave
received a good price for their products
and the outlook for the future for SaVan-
nah is more fattorns than mas beeh
known for years.
An abundant supply of available money
has been on hand throughout the season
and discounts are lower than has ever
been the case before. New York bankers
reduced the rates on money and the banks
here were compelled to follow their eX-
ample TO be able TO compete with them
in business. The unusual supply on hand
also naturally had a tendency TO lower
the discounts. This reducing of interest
has been marked; for instance, at the
opening of the previous season, borrowers
paid per cent, while at the present mo-
ment banks are anxious TO make loans at
8 per cent one bank here recently prof
fered loan 10 a country bank, but re-
ceived prompt reply that no loan was re-
qured. as it had an ample surplus with
which 20 supply all demands
The Savannah banks have done an I'M
usually large business with country banks
owing 20 the fact that they have
been able to compete with the
banking houses Of the East. With DIS
counts reduced their rate of interest is
the same, and the express and other
charges less, and that added 10 the ex-
pediency on account of distance and also
a natural preference for Southern bank
ing houses, accommOda tons being equal,
has thrown a much greater volume OF
business toward Savannah banks than
has hitherto been the case.
For instance, the express charges on
$1,000 from New York city amounts to
$125, while from Savannah the charges
are only 10 TO 70 cents.
Then lumber, turpentine and rosin in
terests have created new demands for
money, large sums having been advanced
to parties buying immense tracts of tim
bered land. In fact, the revival of trade
in all lines has inspired confidence in
business men in general, and they are no
longer reluctant to obtain loans for car
rying on a more extensive business.
Much money is being advanced on cot
ton by country banks, and the prospects
for large demands for the removal of that
commodity are very good.
The banking capital of Savannah
amounts to 81 sos, coo, the same as the pre-
vious year, with a reserve of 81, 500 900, an
increase over last years reserve of 100000.
The deposits amount to $500 600. In 1893
the time of the crisis, the deposits for the
entire state of Georgia amounted to only
900. The banks are now perhaps IN
| a more solid condition than has ever been
| known. Their volume of business has
been unusually large, but with lower rates
| of interest their profits have been COM
| paratively small. Banks have paid divi-
| dends and added a small amount of sur
| plus. AS a rule, the dividends are too
| high, and in some cases they are being
LII
others, has reached the point when, real
izing small profits, there must be a large
| business to find it paying. While the
| stock of money on hand consists of al
| kinds, gold, silver and bills, and no pref
| erence is manifested anywhere for any
one kind gold seems 20 be the most plen-
| tful Much gold has been placed in cir
| culation during the year through the gov
| eminent having paid its soldiers in that
| specie, and paper money seems just now
| to be the scarcer article in the money
line Demands are going into Washington
from all over the country for an issue of
| gold certificates banking houses from
everywhere offering to pay express
| charges in order to get the bills.
| The banking capital and surplus Tin
Guiding undivided profits, of Savannah
will be seen in the following table:
Capital. Surplus.
Savannah Bank and Trust
| company Observation-Disclosures. 35U,DO 4b.iZl
| Chatham Bank .............. S150000 10, 800
| Citizens Bank ............... 100000 105, 701
| Germania Bank ,............ 100000 SO, 651
| Merchants National Bank. 100000 lis, 234
| National Bank of Savannah 600 $50, 00C
Oglethorpe Savings and
Trust Company ............ 125000 50,00C
| The Southern Bank of the
State of Georgia ........... 100000 S72, 295
Peoples Savings & Loan Co 10000 .......
| Railroads and all TRANSFORMATION comma
| MES have done an enormous amount OF
business. Not only has the volume o.
trade been greater, but rates have been
higher on freights and earnings have in,
creased greatly over the previous year
the earnings of the Central Of
crease over the previous year
Carrying supplies for the soldiers has beer
a great help for these lines, as wen as
furnishing them with transportation
| The movement of commercial and agri
cultural products has been an increase al
higher rates over the previous year, the
shipment of lumber and naval stores re
naming unusually steady during the sea
son. Increase in trade in all lines ha:
naturally benefited the transportatio
lines and the outlook for a good cottor
crop at fair prices, together with the grow
ing commercial interests are all indicative
| of a gratifying outlook for Savannah.
} railroads and steamship lines for The fu
ture They have done good business fol
the season and have all made money. Tit
wave of prosperity has apparently only
begun. Merchants are counting on a bet
ter business for The future than they hav,
experienced during the past season al
though that has been unusually good
Preparations were being made for ever
broader extension of all lines OF trad
for the coming year ana in almost ever!
class of business the demand is alread.
greater than the supply. More building
} is being done, new railroads are beini
, constructed and there Is an increase il
foreign demand for our products.
Hence, labor will demand a higher rat
of wages. more laborers will be employ
ed, farmers will dispose of their produc,
at a profit and merchants will do a larg
er and better business. There will b.
plenty of money at low rates on good Sc
} curity, hence those desiring to open III
new business enterprises viii End no diff
Guilty in procuring aid as banks hav,
a,.arN. facility To Offal~ for an pNtpD sio1, n