The Indianapolis journal., 1903-08-07

claim the strong qualities and successful
operations of these banks and bankers, be-
cause their success is the strongest evidence
of the growth and prosperity of the city.
Indianapolis has seven national banks
and one State bank, but il also has six trust
companies and a number of firms who are
engaged in investment banking and loan
ing money on first mortgage. Other cities
may have a larger number of national
banks, but none have better class.
The seven national banks have an invest
ed capital stock of 81 900; their total sur
plus is sl54O.000, and they also hold in un-
divided profts S4l6, 1860 To put it in
another form the seven banks have in cap
ital stock, surplus and undivided profits
Sc, ,256, 1850. The total resources of these
banks is s42, ,IIO.S21.3i. The loans and dis
counts of the banks amount TO ST. 1l5. PISS.
and the individual deposits make the neat
little sum of sl56S5. .272.Ss. From these fig
ures it will be seen that indianapolis people
have some wealth, and the business of the
city requires considerable money for its
transaction. Three of the seven banks have
a capital stock of sl.OoO,O00 each; one has
s50O.oo0, two have 100000 each. and the
youngest has 100000. Only one of the
roll of honor at the present time, which
means to have surplus equal to or greater
than its capital stock, but this is accounted
for by the fact that the Indiana National.
which at time had surplus two and
one-half times the amount of its capital,
increased its capital from $500, 900 to 81 Oo0,-
600. The above figures indicate something
of the size and character of the banks. but
ton.
Only few years ago Indianapolis was
made a reserve city for other national
banks and between $SO0OOOO and $4,000 900
more money very quickly came to the
vaults of indianapolis banks. Since Feb
ruary a. 1901, three national banks
have been organized in indianapolis; and
Notwithstanding their exceptional growth,
all the older banks have increased the
amount of business they were doing he
fore the new banks came into the field.
One of the new banks has reached the large
amount of s53O2, 1853 deposits. The excep-
tional railway facilities are no mean con-
sideration in making indianapolis an i'm
portant financial center. Because of the
direct and quick communication with all
parts of the State, as well as other large
cities, the banks of our city have unusual
facilities for the dispatch of business in
the shortest time, and this is an important
item in business transactions.
Another thing worthy of note is the wide
| experience of the men who are al the head
of these banking institutions. In at least
three cases the presidents have filled al
most every position in a bank, from
messenger boy to bank president. These
men now hold their present positions be-
cause they won their way to the head by
marked business sagacity. They are now
! the heads of the Fletcher National, the In
diana National and the Merchants Nation
4 al. The vice president of one bank has filled
| the position of bank examiner, and is very
| familiar with all the details of banking
business.
! While thus directing attention in a COM
mandatory way to the officials of the banks
it should not be forgotten that the capital
| city has men Of equal reputation and abil-
ity managing the large trust companies The
largest trust company has capital of ST.
100000; one has 100000, one $5OO,OO0 and the
other three show paid-up capital stock as
follows: The Marion. $4,000 Central, $780,
600. and the Commercial, s11O,94S The six
| trust companies have paid-up capital stock
aggregating 81, ,94S4O. and a surplus and
undivided profits amounting to s6S6, ,2OS. .3s;
the two items making total of s., 237, ISL rs.
| The six trust companies hold deposits
amounting to over ss,OOOOOo, large part of
which is the savings of persons who make
small weekly or monthly deposits. The
total assets of the trust companies make
| the sum of $12,O07 164.41. and the total assets
of the seven national banks and the six
trust companies aggregate s54117. 7.4S5.75.
Among the financial Institutions of the
/ city, noted for their successful operations
| and rapid growth. none have made a better
showing than some of the life and fire in
] surance companies. They are of such re-
cent origin that it is not practicable to
| speak of them in an historical sense