Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1903-11-13
SIGNS OF PROSPERITY.

SIGNS OF PROSPERITY.
Because Of the fair prices that cot
ton growers have been receiving for
their product this year and last, the
evidences Of prosperity throughout
the south are more marked than they
have been at any time since the war.
This Is the news from every section
Of the cotton growing region, and 1t
will be encouraging to our readers to
know that York county. is also enjoy
ing her proper share Of this wide
spread bounty.
There is no better index. to local
financial conditions probably than the
deposit accounts at the banks, and
these show up nicely. We have no
doubt that they are in healthy con-
dition in all the financial institutions
of the county; but for the purposes Of
this article. we have only taken the
trouble to get statements from the
banks at Yorkville. The deposits of
the Loan and Savings bank now foot
| up SlfOUUU, llOSc VI IhS = IL 81 va
tional bank aggregate $4,000.
The significance Of these figures can
be best appreciated in the light OF the
fact that last year at this time the de-
posits Of the Loan and Savings bank
were only 100000, and the deposits OF
the First National were nil, that insti-
tuition not then. being in existence.
The $4,000 which 1t now holds, has
been accumulated only within the past
three months.
And 1t is also worthy Of remark that
this Is not the season when deposits
run highest. Most Of the money col
lected by business men up to this time,
has been going to pay bills north, and
this process has not yet been COM
pleted. AS rule deposits do not
reach their largest volume until the
middle of January, and at that time
last year the deposits Of the Loan and
Savings bank amounted to 100000. the
largest In the history Of that institu-
ton. Assuming that the ratio of pros
perity will continue through next jan
uary in the same proportion, the fig
ures then ought to run up over $780,
900. This condition Of affairs has been
generally noted, and the suggestion
that money may become so plentiful
as to warrant a reduction in interest
rates Is common.
How will this situation likely affect
81 of {ota ha ak.
ed President McNeel, Of the Loan and
Savings bank, yesterday
1T will not affect the interest rate
at ALL" he said. while we have more
money than we have ever had at this
season, we also have more use for
it. The demand Is greater than 1t has
ever been and we can. use all we can
get. You need not count on any reduc-
ton in interest rates soon, and not
only that you need not wish for re-
duction. A stiff demand for money at
| s per cent, is a much better indica-
tion Of good times than large amount
Of idle money going begging at low
er rate. It means that people are busy
and that there is something doing"
President Wilkins, Of the First Ma
tional bank is also well pleased with
the present situation and the prospects.
He thinks that the deposit account that
has been worked UP by the First Ma
tional represents new business almost
entirely, and he considers that the OUT
look Is encouraging. The idea Of re-
duction in interest rates does not. en-
ter into his calculations any more than
1t does into the calculations OF Mr.. Nc
Neel. I'VE are having no trouble" he
said yesterday, I'm getting rid OF all
the money we care to spare, and we
could lend great deal more on gilt
edge security If we had it and cared
to go out Of the county with 1t. i
don't think you need look for any
reduction in interest rates soon. It Is
my observation that most Of the peo-
pie around here who have money, know
pretty we'll how to use all they have
and a good deal more, and so long as
they are disposed to keep things as
they are now, there is not much danger
Of money stagnation. I'll warrant you
that you will see ready cash too scarce
before 1t is too plentiful"
From the best information to be
gathered, the idea that money Is be-
coming a drug, arises from the fact
that various individuals have small
amounts that they are unable to dis
pose of on long time loans at 8 per
cent; but this can be accounted for
otherwise. Loans of this character
usually involve certain heavy expenses
that are exacted Of borrowers, and most
borrowers who have first t-class security
to offer can generally get accommoda-
tions through the banks on more satis-
factory terms. People who are In
touch with the market and who are
not looking for anything beyond good
security and per cent are finding but
little trouble in disposing Of all the
money they can control
LOCAL tAcoNlcs.
Accident to Mr.. G. L. Riddle.
News was received here this morn
ing of serious accident that occurred