The Paducah sun. [volume] (Paducah, Ky.) 1898-1906, 1905-12-30
Banks Declare Usual Dividends
Out of 6 Months Earnings.
The Tax Bills of the Banking Institu-
tioDs Show Burden They Are
Carrying.
NEWS or COMMERCIAL WORLD
Bank clearings this week. $3.50. 695
Same week last year. 49,. 52S,353


The bank clearings this week show
an increase over, the same week last
year. The increase is larger than the
figures show as in the week last year
there were six business days and in
this week only FIVE.
The directors of the banks met at
different hours today to declare theii
semi-annual dividends. The City Ma
tional declared a 6 per cent dividend.
The First National per cent. The
American Geman per cent. The
Citizens Savings per cent, The Pa
ducah Banking Co per cent The
Mechanics and Farmers 2 1-2 per
cent. The Globe Bank and Trust Co.
passed its entire earrings to the undi-
vided profits account, paying no div
idend.
The gross earnings of the banks
the past six months were larger than
ever before, but the net earnings
were less. This is due to the tax bur-
dens the banks are carrying, and I'M
less something is done the probabili-
ties are that the banks will reduce
their dividends. AS one banker re-
marked: THE banks are doing more
business today than at any time be-
fore in their history yet the share
holders will get less. The taxes have
been raised and raised on us until
they have become, indeed. burden.
We shall have 10 have relief or the
stockholders will have TO be satisfi-
ed with less return on, their stock.
There Is a proposition on foot now 10
cut all the dividends | per cent next
year unless we get some relief. This
Is not to be done by one bank but by
all. Take the way we are assessed,
there is no justice in II. We are pay
ing on every dollar of our capitaliza-
ton, yet our next door neighbors in
mercantile lines get off with a one
third assessment. is there any fair
ness in that? If every one paid dol.
lar for dollar we should have no COM
plant, as the rate would be reduced
proportionately, but wnen we pay Oh
everything we have and other people
pay on one-third of what they have If
is not equitable at all"
The same complaint is made at all
the banks. Below is list of the tax
es paid by each of the banks. and IL
will be seen that some of them are
| paying over G per cent on their cap
italization. verify burden.
City National--Capital 100000;
taxes $1O,727, per cent.
! Amer. Ger-Capital $230,000; tax
es $4,000. per cent.
Citizens-Capital $1OO,OOO; taxes
$4,000. as per cent. .
First Nat-Capital 100000; tax
es $4,000. So per cent.
Paducah Bank. Co-Capital $780,
900; taxes s3.s21, 3.S per cent.
Globe Bank-Capital s150,O0O;
taxes $4,000. 4.3 per cent.
Mechanics and Farmers '-Capital
$4,000; taxes $3.50. 2 1-2 per
cent.
This Is interesting information and
will appeal to owners of bank stocks
Ii an individual was taxed at such
rates there would be few capitalists
in the city.
The reports from all lines of bust
ness are that this year has been the
best year in history and that the
promises of the new year are all that
could be desired. Every section of the
country reflects the same healthy
prosperity and the same reports are
heard
The national banks elect their di-
rectors the second Tuesday of next
month.
There are no changes, as far as
known. in the personnel OF any prom
inent houses the first of the year,
The banks and postofflce will be
closed New Years day, but the retail
establishments will be open as usual.