The age-herald., 1899-11-05
BIRMINGHAM THE ACKNOWLEDGED
 FINANCIAL CENTER OF THE STATE
Money Marts of Days Gone By Now Pay Tribute to Metropolis.
 Volume of Business.

est bank has the largest deposit line of any bank in Alabama. There are sixty-fye banking towns in Alabama. A compilati tiof, of recent bank statements shows that the deposits of Birmingham banks are equal to those of Mobile and Montgomery combined. ana that they exceed the total deposits of the other sixty-two towns in the state. Bir, mingham Is the only city in Alabama hav5 ing clearing house organization, making daily settlements, and giving out figures for publication; so comparison with other places in the state a to clearances cannot be made. The transactions of the Birming- ham banks are now averaging about $1 750. GOO per day, and 1t Is not regarded as an over-estimate to say that the banks pay out over their counters one million dollars actual cash per week.
 The banks in more than fifty of the bank ing towns in Alabama keep accounts with Birmingham banks and mercantile firms and individuals all over the state are deal- ing with our banks to such an extent as to warrant the assumption that one-third of the bank deposits of Birmingham belong to non-residents.
 In the boom days of 1886 and 1887 Birm- ingham was speculative and industrial center, but it was not a money center, for while money came here for investment. other communities did not look, to any great extent, to Birmingham for advances on crops or for discounts on commercial paper. At the present time, however. the banks of Birmingham are a powerful fac- tor in the handling of crops. the cotton re- ceipts Of Birmingham amounting to from 100000 to 125,000 bales annually. Tn addition to providing for the payment for this large amount of cotton, and taking care of the cash pay rolls of the greatest industrial dis trict in the south, the Birmingham banks handle large blocks of exchange for corres- pondent banks over the state Owing to its geographical position and railroad facil- ities, Birmingham Is the distributing point for checks and collection items on all towns throughout Alabama and our banks do a very large miscellaneous collection busi- ness.
 Besides it's excellent system of banks, Birmingham is we'll equipped with all the other essentials of a great financial center, having several building and loan associa- tions local fire insurance company. three industrial insurance companies, abstract and title companies, stock and money bro- kers and numerous agencies of loan compa, nies. fire and life insurance companies, etc,
 Local promoters have taken prominent parts in various amalgamations of indus- tries that have recently been made in this district, and have been instrumental in To- eating new enterprises here, the outlay in- volving millions of dollars. Birmingham has thus entered the realm of "high" finance.
 Into the office of the tax collector of Jeff ferson county at Birmingham is paid one- sixth of all the taxes collected In the state of Alabama. and the entire amount of di- rect federal taxation In Alabama passes in and out of Birmingham, as the office of the United States collector of internal revenue for the district of Alabama is located here.
 The Birmingham postofice Is the largest in the state. its receipts being far in ex- cess of those of either Mobile or Montgom- cry.
 There can be no doubt of the permanence of Birminghams commanding position among the cities of Alabama as money center. It has already the largest financial institutions. public and private, in the state, and has only just fairly entered it's metro- politan career. Recognized for fifteen years as headquarters for southern enterprise and development it will in the course of few months when the industries now being con structed in the district are completed, be selling every year to the outside world pro- ducts whose total value will reach $35.OOO.- GOO to s4G 900, ,000-nearly double the sum real- ized last year for the entire cotton crop Of Alabama
 The conclusion, therefore, is inevitable that Brminghams position as arancial center is assured and that It's growth in this respect will be commensurate with its industrial progress. ..-il