The leader., 1905-05-27
Mississippi State News

Of the United States. pages Alb and
Ala, Mississippi had fewer business
failures in 1903 than any State in the
Southern group, West Virginia being
next. For that year the liabilities of
failed concerns in Mississippi amount
ed to $3.50, 0,533, West Virginia $751;.
which amounted to $4,181, ,443.
While Mississippi has done well In
other fields, there being perceptible
awakening in most all lines, 1t Is in
banking where she Is the most su-
preme. The increase in the banking
industry has been marvellous; so much
SO, in fact, as to attract the attention
Of the whole country.
Taking 1888 as a starting point.
which is the first year in which banks
were required to make statement to
the auditor, the increase has been
gradual for all the years intervening,
and in the last few years has been
wonderful.
In 1888 Mississippi had thirty State
and twelve national banks. The State
banks showed the following:
Loans and discounts ....$ S.7fS, 20
Capital paid in ......... 1850, 14S.47
surplus ................ 54s4OV.oo
Undivided profits ....... 216,454O5
Deposits ............. 4,593,97S.S2
And the twelve national banks the
following:
Loans and discounts ....$ 2.646,S03,7S
Capital paid in ......... 1,105,000.O0
Surplus ................ 242.z6y.59
Undivided profits ....... 92.263.05
Deposits ........... 1,672,516.67
In 1900, twelve years later, the num-
Der of banks operating had more than
trebled, their capital had almost done
the same. and the other items showed
proportionate increase.
The last statement called for by the
auditor on the State banks and by the
comptroller of the currency on the
national banks showed, on March is
and Ia, 1905, respectively, the follow
ing:
State Banks-221-
Loans and discounts =. $50, ,743, 1904
Capital paid in ......... 9,007837.27
Surplus ................ 1,56l ,35S.90
Undivided profits ....... 1,543, ,234.12
National Banks-26-
Loans and discounts ....$ S,664,0 .SS
Capital paid in ......... 3,O20,000.00
surplus ..........sssss. 9U9, ,b34. Az
Undivided profits ...... 422,018.52
Deposits .s,........... 9,526, ,394. 81
Tue percentage of increase in State
and national banks from 1888 to 1905
was as follows:
In number of banks. 80. .48S per cent.
Loans ..................51 .514 per cent.
Tanita1 236 nor cent
Surplus ................. .3l9 per cent.
Undivided profits ...... .536 per cent.
Deposits ..............56 566 per cent.
This table effectually answers the
criticism that banks are being organ
lied in Mississippi faster than sound
business conditions warrant It will
be noted that the increase in deposits
was Is per cent. greater than the in
crease in number of banks organized,
and the items "loans" and undivided
profits" increased, respectively, 26 and
Al per cent. over the ratio in the num-
Der of banks organized.
This record is excel,ed by that of
no State except Texas, which has or
ganized about twenty more banks than
Mississippi. In the small number Of
failures l think we lead the world
Mr.. President. I could draw these
figures out and extend them to other
fields, but as think they are suffi-
cient to clearly demonstrate the high
ly prosperous condition of our grand
old State and the progress being made
along industrial lines, and feeling that
l have already consumed enough of
your valuable time. deem it proper to
bring this document to c.ose.