The Montgomery advertiser., 1904-04-22
SOUTHERN PROGRESS
REVIEW BY THE MANUFACTUR
 ERS' RECORD.
Exports From this Section Saved the Record of Outward Bound Amer ican Commerce-Great Bus
 mess Activity.

e Baltimore, April 21.--(Special.)- )-Ex- ports from the South last year saved the record of outwardbound American commerce. The increase in the value of exports over the preceding year was $3S.41S,613, of which $35,342,S95 was at Southern ports, and 65 per cent. or the total increase in the value of the country's exports during the year was the increase in the value of the cotton exported. The great business activity in the South compared with that in other parts of the country was clear ly indicated in the recent analysis Of Southern bank clearings and that ex- hibit Is reinforced by review in this weeks issue of The Manufacturers Record of the growth of national banks in the South and Southwest since the act of March 4th, 1900, authorizing the Incorporation of national banks with capital less than $50,000. The survey says
 During that period there were char tered in the entire country 1880 banks, of which 1,26U had capital less than $500 the average capital being about S26, 900. Of this number of small banks 463 or 36.74 per cent. were incorpor- ated in the South and Southwest. The number of larger banks incorporated in the United States was 670 and 234 of these were incorporated in the South and Southwest. amounting to 34.92 per cent of the total The entire number of national banks chartered in the South and Southwest since the approval of the act was. 697, or 36.6 per cent. of the total number incorporated in the entire country. There was on an av- craze If national banks incorporated per moEtn in those section since March 14th, 1900. The number of the smaller banks was particularly large, it be- ing 66.42 per cent. of the total there.
 Tt will be observed that in these in- corporations the South displayed an ac- tivity and progress beyond the aver age and some of the States made par ticulariy strong individual showings, Texas for instance. being second in the full list with a total of 217 banks, 14S being of the smaller class, the aggre- gate. capital being $9.65S,000, of which $3,96S.000 is represented in the smaller banks. the remainder. $5.690,00 being represented in the. 69- banks of the larger class Pennsylvania. which heads the list had a total of 219 incorpora- tions.
 The Southern and Southwestern States in which more than 25 national banks were incorporated during the period are Virginia 40; West Virginia 39; Alabama 2S; Kentucky 36; Missouri 26-although Maryland and Georgia came very near getting into this class with 24 banks. each. It is to be noted. however, that Alabama incorporated of the larger class nearly twice as manly banks as she did of the smaller, there being eighteen of the former and ten of the latter in her total South Caro- lima with a total of nine. incorporated six banks of the larger class; Florida with a total of TO- incorporated eight of the larger. Louisiana has nine of the larger and eight of the smaller and Arkansas six of each.
 The aggregate capital of the 697 new national banks in the South is 34.3S5, 900 or SO.63 per cent. of the to- tai aggregate capital. $112,253,000 of the 1880 banks incorporated in the en- tire country. The aggregate capital of the new larger banks in the South and Southwest is $22,195,000, or 27.94 per cent. of the aggregate capital of new banks of that class in the coun- try"
 Ut will be observed that these fig ures reflect strikingly the progress and development of the Southern and Southwestern portions of the United States far as the western boundaries of Oklahoma and Texas Moreover, the number of new banks being incorpor- ated in those sections shows no signs of decrease. Every day there are new charters and organizations in some of those States and territories to meet the expanding requirements of their respective communities. and this does not cover the large number of State banks and trust companies which are constantly being organized"