Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1899-09-28
Statement of the Financial COndi-
ton of South Dakota Bank.
ing Institutions.

To the Editor of the ArgusLeader: Some time since the variousb banking
institutions sin South Dakota were requested to furnish me with a statement c:
the total amount On deposit at the close of business, June 80, 1893, also to
classify them SO that an accurate record could be compiled, showing the ag-
gregate deposits, and their classification.
Nearly every bank responded, and l am thus enabled for the first time
In the history Of our young state-to lay before your readers and the gen
el public, the facts remive thereto.
lam confident the showing made will do much to dispel the idea, some
what prevalent in the East, that South Dakota is a drouth stricken and un-
profitable field for human endeavor. The tabulated statement is as follows:
Total deposits posts Of o,a all the banks $3.50. ). ). !. ). !. !. :. .sl2 74SS ss =
Deposits of merchants and business men. . ..... ... !. .... 49,. 4ys5ss2a74
Deposits OF farmers n stockmen $780,. ...... ...... ...... =. SSs go "a
Deposits IF laboringm men N women. =. =. ;. :" :. :. :. :. :. IasaSszaa
Deposits Of capitalists and those retired !. =. 80. ssss5al5
Deposits IF professional men, lawyers. doctors, etc). ). :. -. 2l7e34Ss
DEPOSITS epos # faMieS mn %. state. co county. and muaidpaiJ.. l.osssssas
These deposits. that represent only a portion of the money in the state
give a per capta-on a basis OF 100000 populatan-of ssiss.
The merchants and business men have $3.50 per cent of the total; the
farmer and stock men have 32Os per cent; the laboring people have s7 per
cent; the miners 7SO per cent; the capitalists have $3.50 per cent; professional
Grouped together in another form, W . find that Q very surprising resut
is obtained, and n hardly looked for in this state.
Take the merchants, capitalists and professional men, and their ggre-
gate deposit is s5s43sos7s; while the total of the farmers. stocklmen' la
the first class named.
The last o. June is about Is unpropihous a time $ could be selected to
find a farmer OF stock-grower with a bank account. 1t is the season when
his resources ire being exhausted, and when but small returns re coming in;
but If he is able to have a deposit of over sS,SsS0oo, what might We not *
pect in November when the crops have been garnered and sold. M the
cattle, hogs and other stock turned off?
Even the laboing mn is taken at a disadvantage; IS many of hem ire
compelled, by the rgor of winter, to lay idle for some months, and thus
would encroach upon the funds in bank, that would be again augmented in
the fall, when the seasons labors were just ended.
Again; many farmers and laboring men never use a bank IS a repository
for surplus funds, and the proverhial stocking buges with its hidden treas
ure, Wilde the rule with business and professional men is to employ the bank
to do their clearings
The magnitude o fte deposit in itself proves that our people are making
rapid and substantial progress IN these fertile plains and evidences the fact
that well directed effort in South Dakota brings ample reward. While the
of industrial activity is securing its fair proportion of the profits.
South Dakota is to be congratulated upon the spleadid showing made and
ures, and then correct their estimate of the glorious Sunshine State" Re-.
National Bank Examiner.