The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1903-08-14
FaB MITCHELL CAPITAL
FRIDAY, AUGUST IA, 1903.
STATE NATIONAL BANKS
. Heavy Increase Along All Lines
OF Business in the Past Four
Years.

Geo. A. Silsby, of this city, nation
al bank examiner, has just compiled
a statement Of the condition of the
national banks in South Dakota and
compared it with the situation OF
four years ago, and the showing even
exceeds his expectations. Mr.. Sflsby
said he was prepared to find a heavy
increase but not to the extent his re-
port showed. Mr.. Silsby said:
SIN January, 1889, there were
twenty-five national banks in South
Dakota, while now there are fifty
seven. The comparative statement
given herewith shows the totals of
the smaller number for 1889, and of
the full number for 1908. But when
you realize that last year our crops
were seriously impaired by frosts
every month except July. which ma
terially reduced the volume of depos-
its and compelled many who usually
had balances with the banks to bor-
row money to tide them over YOU
would hardly expect that deposits
should show a gain over 1899 of more
than 100 per cent and yet that is ex-
actly what has occurred. The twenty
five banks alone made a net gain of
63 per cent.
"a careful perusal of the compar-
alive statement will evidence that
prosperity has come to the banks as
well as to the people who ~patronize
them, and the showing is just cause
for congratulation all along the line
The following statement gives the
conditions CT the national banks from
january, 1899. to July 1, 1903:
1895. 1903. Increase.
Loans and dis
ge sedas and di stocks! f,sssi 81 $ s s,saa,ss ; Els 81, 81
Cash and exchange 2.oss,2s7 3.7ss,44O 1,7O5,Ns
SSq nalSla ssii profits. So! ssS! : II M zE;5sS ]. 5S &c
5 Sssssissa ia::::: 9, i &; SE5 r. $ ss5:Ss5 s, & 55' s
Eighteen new national banks have
been established in the state during
the fiscal year just closed, June 80,
and all but two have been organized
with a capital of 1925. 0OO-the two
having a capital of $50, 600 each,n
said Mr.. Silsby. SIT is hard to..tell
which banks are the most successful,
the ones with the large or the small
capital, as all r doing a splendid
business. 1t is. noticeable that with
IN the past few- years that many
farmers are becoming stockholders,
OmcerS and directors in the national
banks. which certainly evidences the
iact that the agriculturist is getting
on easy street and has money to inE-
vest in legitimate enterprises.
"Ihe banks in the region of the
stock growing interests areas thrifty
as IN the older portions Of the state.
M there is no %perceptible dimuni-
zion In The stock growing. industry,
although there are indications that
Inc larger stockmen must give way
for the smaller, and that actual own
ershlp OF lands will soon be a neces-
sity.
Zone thing that goes to prove to
me conclusively that our people are
stronger financially than ever before
is the fact that the policy of the
nationals Of always requiring collat-
eral or chattel security with loans is
being Gradually eliminated, and that
men are now able to borrow money
at the banks on their names.
while l am not so thoroughly in
touch with the state banks, as they
are outside Of my Jurisdiction, yet I
nave made some Investigations as to
their progress and find they have
made similar gains, and the number
OF these institutions have been great
ly augmented in the past three
years. The total deposits in the
will exceed 1872, 900, 900. Esti-
mating the population at 45O, 900,
is probably above the actual
amount, the per capita is $71.lO.
Ih1s excellent financial condition
that the state has fully kept
touch with the progress .of..the
east, and is abundantly able to give !
a good report of herself in the ,fu-
ture, taking into consideration 'hhe
splendid crop that is being har-