Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1903-09-03

EOr the paos 800 -
y ~ heen the proud boast of the resi-.
.1 of South Dakota that, taking
N1aslation into consideration, the state
ss wear during that period led all the
10 states Of the Union in the pro-
.aor NJ new wealth. And the best
WI ~ II vas these boasts were fully
psastantiated by figures which could
~ be disputed.
south Dakota has decided to make
N " came claim again this year, and,
was the case during the past few
saors Is once more prepared to tur-
/, ..sh nroof in support OF the claim that
more wealth will again be produced
sithin the limits Of the state this yeat
.h.r nv any other state, according to
population.
stories in reference to the prosper
40 times now being enjoyed by the
y saonle of South Dakota can scarcely be
exaggerated, for the strongest terms
\ ~ necessary to describe the exceed.
Il ,rclv favorable conditions which exist
q throughout the state.
I information as to the financial condi-
,m OF the people of the state is fur
| r.shed by the current reports of Ma
y ,iopai Bank Examiner Silsby and State
w. rank Examiner Hemmingway.
the report of the former gives the
a condition of the national banks from
\ January, 1899, to July 1, 1903, as fol-
lows:
1899. 1903. Increase.
n Inans and discounts
s4367,61s s~9.317,294 s4,949, s75
Bonds and stocks
I.SSo,s3 2,062,3oS 1871
I Cash and exchange
2,oss,237 3~.73s.44o 1,7o5,zo
1ss,5zo 2H $50 1000
Undivided profits
Ss5.27s 777,647 4s2,S6S
Deposits
s,11s,427 1~2,ss7.27o 6.277,s4S
Circulation
503,s75 $4,000 3S0.125
The report of State Bank Examiner
Hemingway in part shows the fol-
loKing:
Loans and discounts .s13, 300, 20I.6S
School and county war
rants 200,3s3.S0
Stocks and bonds $780,. las, 694.79
Due from other banks. 1892, $3.50
Cash on hand ........... 1~,330,656.z1
Surplus 498,3 31.43
Deposits subject to check 7,745 1851
Certificates of deposit. -. S,903, 2S9.02
Due other banks. 1900. 2~18,160.24
Thus the banks Of South Dakota
have aggregate deposits amounting to
oyer s2S,e 00, 900, or about $40 for each
man. woman and child In the state.
In January, 1899, there were twenty
6Fe national banks In South Dakota,
while now there are fi~fty-seven. Eight
cen new national banks were estab-
lished in the state during the last fiscal
year.
Notwithstanding the crops were Sc
riously affected by frosts every month
except July of last year, which mate
rally reduced the volume of deposits
and compelled many who had usually
had balances with the banks to borrow
money TO tide them over, the deposits
~ the national banks show a gain owe
1873 of nor than 100 per cent.
Examiner Silsby calls attention to
tne fact that during the past few years
many farmers have become stockhold-
En-, officers and directors In the ma
tonal banks, which, he states, indi-
Gates very clearly that the South Da-
kota farmer is getting on Easy street
and has money to invest in legitimate
enterprises.
TIE reports Of the national and state
oank examiners, 1t must be remem-
oered, were compiled 1T a time when
lhe deposits were at the lowest ebb
lor the entire year.
During the early part OF the summer
money Is being steadily paid out by
residents OF the state, especially by