The times. [volume] (Richmond, Va.) 1890-1903, 1899-12-31
THE YEAR WITH
THE CITY BANKS
Heads of financial Institutions Give
Their Views.
REAL, GENUINE PROSPERITY.
what n Review OF Local Banking
Transactions for Twelve Months
sbow-Thc Prospects Bright
and Ever Frightening.
REAL, GENUINE PROSPERITY

The year 1900 hns proved very satsiac-
tory TO the banking institutions of Rich
mond. Their transactions have been on
an enlarged scale; there has been re-
markable increase in deposits ana an
equally gratifying increase In loans
BANKERS are IN position TO accurately
gauge prosperity as II IS reflected in the
financial transactions Of large corpora
lions and enterprises, as well as IN the
smaller business ventures. some express
sions Of opinion were obtained last week
nom gentlemen well known ia connection
with leading banking Institutions when
are In the nature OF a summary OF the
whole years industrial activity.
NIX r. A. CATLnN.
MIR. r. A. Catlin, president OF the Sc
curity Bank. said.
.sThe banking business of Richmond FOR
the current year il most satisfactory
The increase in loans in 1893 over those
Of the preceding year amounts 10 I'i-o'-
s,I61 and the increase in deposits
amounts 10 s2s90. 262 - There has been
Of late a great demand on our banks, but
II was unacoompanied by that panicky
feeling which was observed ia other
quarters Merchants and manufactures
have. from years OF experience learned
fhat they need not feel any apprehension
about tight money markets, for their
wants are always supplied, even though
the money has to be borrowed at loss.
.arhis fact makes Richmond desirable
point in which 10 embark in business
and TO that extent the banks are unusu-
ally helpful 10 the community IheH
conservative management too, makes
afHV.9ffEn Investment and
hence there is never trouble in raising
an the capital that business demands.
This explains. too. the feeling Of safety
that pcrvades this community IN times
Of panic Even in 1893. when checks OF
more than $50 were rot honored, no APP
piehension was shown by depositors.
eat this time the balances on hand are
not very large. but almost invariably by
January Is there Is a relaxation OF bust
ness. and unused money returns TO the
banks. and It is expected there will be
no exception 10 this within the next few
weeks.
General business has been steadily and
rapidly growing since the lst Of July. as
is evidenced BY The reports 'of our mer-
chants and manufacturers, ana also by
the Postofiice Department which SHOWS
that Richmond has a percentage of In
crease of business nearly double that of
any other city in the country.
"Our houses are now practically ali
occupied. which facs gives value to them,
and when real estate shall have once
more reasserted itself. which it viii do,
no doubt. in the near future. we may feel
assured Of real substantial prolonged
prosperity. The GEAR Of English reyerses
i'm the Transvaal and the coming Presi-
dental election may cause apgrehen-
sion I'm the minds of the timid, but
rhlnk they viii not materially interrupt
the progress the whole country seems 10
be making.
A MOST PROSPEROUS YEAR.
Mr. W. NJ Habiston. yice-president Of
the National Bank Of Virginia, said
THE past year has been The most pros
perous IN the history Of the country
There has never been known the demand
for goods like the present. Our factories
and industrial enterprises are running on
full time and unable 10 supply the de-
mand The recent panic in New York
was a stockholders affair and in no way
connected with the Industrial develop
ment OF the coutry: 1t has in no way at
lected the industrial enterprises. ana
very little The value Of the gilt-edge Sc
curities.
The pan't was certain TO come, and
ii D. well that It struck the country so
vel pre- AIRED II will bring halt TO an
specuiations and cause investors 10 look
Ior substantial securities. IL Will help
The real estate market by turning The at
teniion of the investing public 10 the low
prices OF real estate. which will be the
next field 10 respond TO the prosperity
Of the country.
The banks of this city are very con-
eervative. They show a remarkable in
crease within the last twelve months.
Exclusive Of the trust companies, their
deposits December !. lSqs. were H2ll7.654,
on December 3 1892 ne deposits were
si37i9.2i an Increase OF nearly 81 100000
The prospects for 1900 are most encour-
aging There Is no city in the South that
has better prospects before &C than Rich
mond. and no city that is taking better
advantage OF the times and improving as
rapidly. The field for advantageous in
vestments here rs large"
THE BEST ron YEARS.
Mr.. J. ". Lockwood, vie president OF