The pioneer press. (Miller, Hand County, S.D.) 1893-190?, 1903-09-03

ror the past four or FIVE years IL
hesn the proud boast of the rest
IS of South Dakota that, taking
.onulation into consideration. the state
I'm year during that period led all the
nor states of the Union in the pro-
action of new wealth. And the best
-, ~ II was these boasts were fully
,hstantiated by figures which could
not be disputed.
conth Dakota has decided to make
me same claim again this year, and,
- was the case during the past few
vears Is once more prepared to fur
.,sh proof in support of the claim that
moro wealth will again be produced
within the limits of the state this yeat
,ban by any other state, according to
population.
Stories in reference TO the prosper
ans times now being enjoyed by the
people of South Dakota can scarcely be
exaggerated, for the strongest terms
are necessary to describe the exceed
Inely favorable conditions which exist
throughout the state.
information as to the financial condi-
,ion of the people of the state is fur
nished by the current reports of Ma
tlonal Bank Examiner Silsby and State
Rank Examiner Hemingway.
The report Of the former gives the
condition of the national banks from
January, 1899, 20 July 1, 1903, as fol-
lows:
1899. 1903. Increase.
Loans and discounts
s4,867,61s ss,S17,294 s4,s4s,675
Bonds and stocks
1.Sso,987 2,O62,SOS 7S1,371
Cash and exchange
2,OSS, 1897 S,7SS.44O 1,7O5,2o3
1ss,52o 27 $50 1000
Undivided profits
3S5,279 777,647 492,S6S
Deposits
6,119,427 12,8s7,27O s.27TS4s
Circulation
5Os,s75 $4,000 ssO,125
The report of State Bank Examiner
Hemingway in part shows the fol-
lowing:
Loans and discounts :. $13 900, 20l.6S
School and county war.
rants ................ zUV,5o0.oV
Stocks and bonds. ..... 14S,694.79
Due from other banks. 3,762, $3.50
Cash on hand ........... 1,330,656.z1
surplus ....... ......... $50, 05I.45
Deposits subject to check 7,745,43S.S1
Certificates of deposit.... S,903. 2S9.02
Due other banks. .... 21S160.24
Thus the banks of South Dakota
have aggregate deposits amounting to
over $29 900 900, or about $40 for each
man, woman and child in the state.
In January, 1899, there were twenty
i've national banks in South Dakota,
while now there are fifty-seven. Eight
cen new national banks were estab-
ished 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
idiiJ FEiuCtu INC NOluulG vi utDOSllo
and compelled many who had usually
had balances with the banks to borrow
money tc tide them over, the deposits
n the national banks show a gain over
1899 of more than 100 per cent.
Examiner Silsby calls attention to
he fact that during the past few years
many farmers have become stockhold-
rs, officers and directors in the ma
ional banks, which, he states, indi-
,ates very clearly that the South Da-
lota farmer is getting on Easy street
Ind has money to invest In legitimate
The reports of the national and state.
bank examiners, it must be remem-
,ered, were compiled at a time when
he deposits were at the lowest ebb
or the entire year.
During the early part,of the summer
money is being steadily paid out by
OF the state, especially by