The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-12-15
A GOOD BUSINESS YEAR
HAS BEEN EXPERIENCED BY BANKS
AND TRUST COMPANIES.
The Heads OF Local Financial Institu-
lions Are Pleased with the
General Prosperity.

son knows for himself how he has pros
pered and perhaps paid little attention to
what others have been doing and the condi-
ton of their affairs. The heads Of the
leading financial institutions in this city
agree that business generally is better and
prospects brighter than for several years.
]. p. Frenzel. speaking for the Indiana
Trust Company, said: II can say that In
so far as the general prosperity is re-
fected in the business of our company Ii
may be found I'm the reduction of the de-
mend for loans on mortgage security and in
the large increase in deposits. The client
age of our company is not composed Of the
active business men, merchants and manu-
facturers, but of people of modest affairs
and limited means, there being many wild
cws. clerks and mechanics among them.
An increased deposit from this class of ac-
counts means better earnings and steadier
employment.
"a popular form of investment with
our company is first mortgage on real es-
tate, also first mortgage farm oans. The
demand for loans upon this kind Of security
has decreased remarkably and is now. to
use a stock phrase. dull and featureless.'
This means, of course, that the people
nave been making and saving money and
are sharing in the general prosperity"
GENERAL PROSPERITY.
o. N. Frenzel, the vice president Of the
Merchants National Bank, says that his
bank has shared in the general prosperity
Of the past year. when the merchants
and manufacturers of our growing city
make up their balance sheets for 1892" said
Mr.. Frenzel. ''there will be agreeable sur
prises. indianapolis has seldom known a
better year. Our deposits have increased
and so have our loans. This indicates bus
mess prosperity. When business is active
the banking transactions increase. The
daily transactions through our bank at this
time are twice as many as they were last
year"
Trust Company, Is enthusiastic regarding
the financial conditions in the city and
briefly outlined the years business and flu
ture prospects as follows:
1.-The Marion Trust Company is now be-
ginning its fourth year and is the youngest
of the trust companies doing business In
this city. Its careful, conservative man
agement has been so satisfactory to Its
stockholders that its capital stock is not
on the market. In connection with a gen.
eral trust business this company has made
a special feature Of it's savings department
and for the accommodation OF the workers
of the city has. during the last year. kept
its office open for the receipt of deposits on
Saturday nights from z to 8 p. m, which
has resulted in a large increase in this de-
partment.
1.-The last year has been satisfactory to it's
directors in every respect, the business hav-
ing largely increased along all its lines. and
IL Is evident that the people are becoming
aware of the necessity of these corpora
lions In this city.
'The new year will begin with every pros
pect OF an increase of business. as we are
so Dlaiply recovering from the business
depression of the last few years that only
those willfully blind can fail to see that
general prosperity is again with U.S."
A GOOD YEAR.
Macy w. Malott. assistant cashier of
the Indiana National Bank, said: 1.-The
past year has been a good year for gen.
eral business and the banks have shared in
the general prosperity by reason % the
better demand for money. There have been
very few failures in Indianapolis and else
where and the city is in a very healthful
condition financially. We enter the new
year with fiattering prospects for bust
ness. The increased demands for money
have caused a slight advance in interest
rates and this has somewhat postponed
business projects"
Henry Eitel. president Of the Union
Trust Company. said: Business has been
good. The first of the year there was
quite a plethora of money, bat with the
increased demands occasioned by unusual
activity there were increased demands for
loans, and while interest rates ruled low
for the first six months there has In the
last quarter been a decided Improvement,
SO that on the whole the banks have had a
very prosperous year and seemed 10 have
enjoyed the same activity as In mercantile
circles. While the East has suffered be-
cause of stringency 1t has NOT been no
ticed here. There has been pleaty of money
for legitimate demands.
HtNa hQUa had mQnV nQrttQQ with MD
loans ready to pay them off. and especially
during the first six months of the year, but
that tendency has ceased somewhat since
the increase of better interest rates. From
the number of loans repaid during the year
1 should judge there has been a gen.
erai enjoyment of prosperity in all lines
price for money has, I think. caused a
falling of in new building and will prob
ably occasion some inactivity in the real
estate oan in future and may have some
effect on unimproved property"
MR.. FLETCHER TALKS.
Mr.. %Stoughton J.. Fletcher, speaking for
the Fletcher National Bank. discussed the
banking business as follows:
1.-THE year 1899, to Indianapolis bankers
In general, has been a profitable one. A
greater portion of the year the banks have
been running with large reserves and with
constantly increasing deposits (the deposits
Of other banks showing an increase Of
AaA&oS ~ ISa ~ 49,
disposition of their depositors to borrow
or use their funds. until the last few
months of the year there has been a more
active demand for funds and a constantly
increasing working of their deposits.
lone of the reasons Indianapolis banks
nave increased in their deposits and totals
is that Indianapolis Is now a reserve
city, and being so, becomes a center and
more convenient for the reserve balances
of other national banks in the State and
territory tributary to Indianapolis. These
deposits will continue to increase. and In
dianapolis will become a money center and
a factor in financial affairs. something that
could and should have been twenty years
ago had there not been lacking that cor
dial harmony of well regulated banking
business which seems to exist how.
THE present stringency in New York
does not affect Indianapolis business in
the least, and though similar stock jobbing
so-called 'panics' may come, we look for
uniformly good business next year"
NJ. B. Wilson. president of the Capital
National Bank, said that his bank had re-
ceived its share OF the general prosperity,
as was evidenced by the fact that its de-
posits on Jan. 1, 1899. were 81, 4S9. $4,000.
while on Dec. / they had increased to
81, 357, or. IL.
He said tina while there had been some
~stringency in the Eastern money market.
very little had been felt in this part of the
country and. in his opinion. all danger
was now past, as IL was understood by
bankers all over the country that on Jan.