The daily news. [volume] (Pensacola, Fla.) 1889-190?, 1900-02-05
RICH LITTLE TOWN.
CAOiZ. o., THE WEALTHlEST IN TIE
WORLD FOR ITS SIZE.

WORLD FOR lIS SIZE.
Contnias More Financial Enstitu-
lions Than Churches and schools.
Deposits In Banks Average $I,5OO
Per Capita.
Cadiz, O.. is the richest town of its
size in the world. With barely 1000
inhabitants and not a manufacturing
industry OF any sort it has four nation
nj banks and four prosperous loan as
sOciations, with a combined capitaliZa-
ton of $l,2l5,OOO 1t has more tinan-
Cial institutions than it has churches
and schools. Although it is one of the
smallest settlements in Ohio. there are
only four cities in the state which do
more business with money than it does.
Cincinnati, Cleveland. Columbus, Tole-
do and CadiZ is the way the list runs.
The isolation of the place makes its
position as a money center all the more
remarkable There is no waterway of
navigable size nearer than % miles.
and the forgotten, forSallcn and wholly
hopeless traVuSty of a branch railroad
that sQuirmS and twists and wriggleS
up steep hiIlsides and through ravines
TO the main line of the Panhandle IS
worse than no railroad ut all. Persons
have been known to walk the eight
miles rather than trust themselves to
the uncertain rOadbcd and Shaky cars.
Situated on group Of hills. with
crooked. i'll kept streets and sidewalks.
il is n typical sleepy country village.
But il has the money. Borrowers from
every state i'm the Union and from
some of its dependencies pay interest
for the funds of these banks and give
M the gilt edged securities which their
ShreWd maCnateS demand.
Figures concerning the banks of Cad
il are rather Interesting. recent re-
port shows that their combined CAPT
talization is but $39O.OOO. while they
possess surplus and undivided profits
Of $1Tl.359. The deposits amount to
S1.725.O52. and the discounts foot up
$1.594Si7 Considerable money, too.
has been earned for the stockholders
since their organization, With a cap
itaI stock Of $4,000 the First National
has paid i'm dividends since 1868 the
sum of SOD, So. The Farmers and
Mechanics. organized i'm 1850. has paid
out about $4,000 on Il capitalization Of
&JO.rnu. and the Fourth National i'm the
six yrarS of its existence has divided
$36.OGo among the holders of $4,000
stock Since 1866 the Harrison Ma
tional has distributed $3J4 900 on a
$lOO.W,O capitalization Thus it will be
seen tEat. counting the undivided prof
its, the banks of this out of the way
country settlement have earned for
their owners more than $l,000,000 on
an Investment of about one third that
amount. Leaving out the 400 colorcd
inhabitants. the deposits average about
$1,000 per capita.
There has never been n run: neither
has there been rumOr that any Of the
. institutions was unstable. The bank
officials are conservative and Shrewd
men. although they trusted not wisely
in the value of western farm securities
not long ago. None of them. no matter
what his wealth. possesses Il carriage.
There isn't butler or a lackey of any
sort in the town. Although the people
are cultured and well informed as Il
rule. there are but two university grad
uatrS in the place-the common pleas
judge and the Presbyterian preacher.
The youEg women. instead of going TO
college. have culture club" where
they eat cake and where the most stu
pid girls read brilliant but strangely
familiar essays on Shakespeare or
George Eliot. This plan is cheaper ana
has just a. good results
\ few months age Il wandering tool
Sharpcncr" ,lriftcd into the town. drill
ed an oil well ia one of the fertile val.
leyS in the nci@hhorh0od and struck Il
paying pool Sine" then the farmers
have been receiving fabulous bonuses
for their lands. ana dozen large for
tunes have been made. There Will
have 60 Ice another bank IN CadiZ soon