The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-12-30

cent industries Of Seattle, and as II by
magic every branch and artery of bust
ness and trade responded with new life
and activity. In a year the clearings had
aluIose doubled in volume, and then was
laid the foundation for the immense Alas
ka business which established permanent
ly Seattle's prosperity and which deter
mined for all time that here was located
the real gateway to the placer fields OF
the north
includes the following banks:
Puget Sound National, First National,
Seattle National National Bank of Com
merce. Boston National. Dexter Horton
& Co, Washington National and the Scan
dinavian-American.
Millions on Deposit.
Not less interesting than a study OF the
growth of the bank clearances during the
past five years is a comparison Of the
deposits in the banks In 1896 with those
at the close OF the last year OF the cen4
fury. Indeed, such a comparison reveals
as none other could the substantial nature
Of the prosperity with which Seattle IS
blessed. In every bank Of the city the
force of employees has been OF necessity
almost doubled In the past five years. In
dfvidual deposits have trehied in number
Long lines of depositors may be seen
standing every day before the windows OF
at noon and just before O'Clock. the
closing hour
In 1895 there was on deposit in the banks
OF Seattle approximately 100000 Accord
Ing to the statements of the national
banks given December IS, 1900. In response
to the regular call of the comptroller OF
the currency, ana also to the statements
Of the state banks. given on the same
date to q Post-Inteligencer reporter. the
deposits aggregated the enormous sum of
H1.1i2, 1885 The gain over one year ago
is seen by the following:
Deposits, 1900 .......s......... ST.. AZ, 792 IS
Deposits. 1899 ................. 1855 g2S 90
-------------
Increase ACKNOWLEDGEMENTS. s A. Lei, ss4 IS
Per cent. increase, 80.
The figures for the deposits OF 1900 do not
do full justice to the Seattle banks for
the reason that since December | ap-
proximately $4,000 was drawn by the city
and county TO pay interest In New York
on outstanding bonds. Thus It will be seen
that the deposits at the beginning of De-
cember aggregated approximately sis,ooo.-
600, which is practically three times the
sum on deposit In 1896
Results Are Permanent.
The figures cited unauestionably show
that the progress made by the business
houses of the city as exhibited I'm the ia
bles of bank clearings has resulted to the
permanent profit of the community to an
extent difficult to realize. Much lies be-
meath the simple statement OF deposits.
The tables show that in every department
business is now on a permanent and sub
stantial footing never before realized in
Seattle. Undoubtedly one cause for the
immense gain in material wealth in the
banks is the fact that the merchants are
now doing business on their own capital,
where formerly many were compelled TO
borrow from banks and from Eastern con-
Germs.
Moreover. Seattle has quit paying yearly
large sums to Eastern mortgage compa-
MES in the way of interest charges on real
property and Industrial institutions Debts
have been Cancelled right and left II 50
stated by an authority that where few
years ago ten mortgages were on file at
the court house. not more than one exists
today. TO be sure, much money is loaned
In Seattle, but 1t is owned by private par
ties. and the interest payments are kept
here and are used again and again in the
work of building up a commercial struc-
ture which shall be impervious to finan-
cial storms and to the caprices of specu-
lative eras.