Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-01-02
First Days Business Of the New
Year an Enormous One at
The Local Banks.
SAVINGS SHOW GOOD INCREASE
Home Stocks Arc Somewhat Quiet in
View Of the Big Money Deals of
The Last Few Days.

year, considering That II IL a half holi-
day at the banks, looms up with Imam
cIal totals that break all recent records.
The bank clcarlngs. given IN another
column, show a falling of In totals for
the closing days Of 1903 as compared
with the same days in 1902, but the,
olearings fer today COMPARED with
those OF Jen. .. 1903. are almost three
times greater the actual figures heing
81, 437, ESQ 20 as compared with sjel,6s6.2l
for Jan, . Of last year. The enormous
Increase Is, of course. due first u the
paying of OF half a million dollars Of
the Church bonds, the money for which
came from several banks, tho disburse-
ment being made by Trustees Hills and
Eccles; all but $4,000 Of the issue was
paid off today. A second cause Is un-
derstood to have been the transfer OF
considerable money on account OF the
railroad and power deal. The second
call on the subscribers to the stock OF
the Fremont County Sugar company
amounting to $4,000 was also made for
today, and various concerns, including
the Utah Sugar company, the Amalga-
mated Sugar company, ard the Home
Fire Insurance company, have paid
dividends either on Dec. 81, or today,
the checks for which generally went 10
swell today's clearisgs,
It has been many years since the
banks received and paid out so large
a sum Of money as they did today, but
In the best posted financial circles, 1t
Is the general opinion that in a short
time the great part of the funds now
changing hands will have found It's
way back into the natural channels Of
trade, and that the tight mon& mar
ket, which Invariably marks the close
OF one year and the opening OF another,
will be Of short duration.
INCREASE IN SAVINGS.
The savings banks OF the city, where
the money Of the people largely goes,
and where In turn heavy loans are
made to the business public, form .
good barometer OF existing financial
conditions. Interviews with several OF
the leading institutions b. a News
representative today brought forth the
fact that the year 1904 opens In special.
IS buoyant form. and with every in.
dication cheering. MIR. George NJ. Can.
non, cashier Of the lions Savings Bank
and Trust company, furnished the fol-
lowing figures, which tell Enthusiastically
OF the trend Of business at that lnsti-
tuition:
Deposits Dec. 81, 1908 uu... : 3,62s. 065.9 %
Deposits Dec. 81, 1907. .u,.... $3.50, $50. 90
Increase during 1903 .,....s 77,5S5,0e
Total business assets Dec.
81, 1909 ....,."o......,s3,S 1858, i9i,1l
Total business assets Dec.
81, lyV2) .,.,""r".,U,. 3,672, 402, So
-
Increase In 1903 .,,,...n,..s Isl, 39l. As
Savings accounts opened to Dec.
81, l3O3 ,'.'.,,.. ,.,,,..,.,. 1885
Savings accounts opened TO Dec,
81, iSv@ ''"'" n,""D',.,,,,,.",34,ll5
New accounts in 1908 ,.....,.... 1891
At the Deseret Savings bank, Cashier
f.. A.. Smith said that the business Of
the bank had increased In 1903 consider
ably over that Of 1902. The volume Of
business was larger, and the deposits
were also in advance. As far as he
could observe, the year 1904 opened with
indications fully as good as those OF
1903. Their deposits we're larger TO-.
day than ever, and as their money was
all out and we'll placed. he felt they had
every reason to be satisfied.
jos, T. Caine, cashier OF the Utah
Commercial a Savings bank, said that
their savings department showed a
handsome increase for 1903 over 1902.
There was an excellent demand for
money and they had no difficulty in
making the best class OF loans az good
rates, which, Of course, is a healthy
indication.
5. II. Lynch, cashier of the Utah
Savings & Trust company, said that
their business showed an increase dur
ing 1908 and the outlook for 1904 was
good, Savings deposits were increas-
ing steadily. anS ~ the demand for
money vas excellent, he felt they had
no reason TO complain,
LOCAL STOCKS.
The locai stock market has been
rather quiet during the week. owing
to the holiday, and the strain on the
money market due TO the many deals
that marked the close of the old year.
Dividends were sent out today on
Home Fire and Amalgamated Sugar
preferred, Quotations generally have
not changed from last week, EXCEPT in
the following instances, reported by
Broker Cutler,
Deseret National stands s276 bid, State
bank sli9 bid, Utah Sugar preferred
sold at $50, eX-dIvidend, a slight ad.
vance; Utah common h offered at 1925,
a slight decline; Home Fire Is strong
at Sli2, ex-dlvidend, Amalgamated pre-
ferred sold at s9i so prior TO the receipt
Of the dividend, which would bring It
to $40, ex-diyidond, Church bonds
stand sl00,50 to SlOl, ex. the January
coupons.