The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-05-30
MINNESOTA BANKS
SHOW BIG GROWTH
PUBLIC EXAMINER GIVES FIVE
YEARS FIGURES.
Increase in Number Of Institutions,
Capital, Surplus and Deposits Reveals
that State Enjoys Era of Wonderful
Prosperity-Percentage Figures Phe-
pomally Large. .-% -

Peter M. Kerst, public examiner, has
prepared an interesting statistical state
ment relative to the great growth of
banks thruout Minnesota, iemonstrat--
ing wonderful prosperity. >= ~ 81
Mr.. Kerst says: -.,,-..
1.-The banking growth Of Minnesota
during the last five years is something
phenomenal. During the five years end
ing Nov. 10, 1905, there was net in
crease of $50 banking corporations, Of
which 213 were state banks and l47 ne
number Of banks Of 1928 per cent. These
new banks added to the banking CAPT.
tai Of the state in five years, in the
shape Of paid-in capital stock, surplus
and undivided profits, upwards of ST.
100000, net capital increase of rs per
cent
The deposits of state and national
banks in Minnesota during this period
were swell ha by $s2, 900. 900. a growth
resources gained $4,000, 900, or 90 per
cent.
'The growth of over 100 per cent in
bank. deposits in five years is evidence
not only of the marked activity and
solid progress Of our commonwealth,
but Of the rapid and substantial pros
perity Of the state, industrially and
commercially as a whole.
. -. Growth in Deposits.
An advance from something less than
$90,0O0,OOO of bank deposits in Mime
sofa state and national banks in the
prosperous year Of 1900. to over $780,
100000 Of deposits in 1905, is not only
most conclusive index, but also a DOW,
erful tribute to Minnesota IS present era
Of growth in productive capacity and
income, as well as in financial devel-
opment.
During the two years ending with the
call of Nov. 10, 1905, Minnesota 8
financial institutions, including savings
banks and trust companies, but not in
Guiding private banks from which there
surplus Of $3s, 100000 in 1903, to to e5s
100000 in 1908. The DEPOSITS have
grown from $15S, 5ss 900 in 1908 to
5000, 1884 900 in 1905, net gain of $47,-
10000, or 81 per cent; while the re-
sources have grown from 1924, $685. 900
to $3.50, 100000, a net gain of $56, 644,-
600, or ~ per cent.
Increase In Banks.
For the year 1905 alone, there was q
net gain of seventy-two in the number
Of state and national banks. savings
banks and trust companies, with ap-
proximately 100000 of added capital
and surplus, $27, 100000 of increased de-
| posits, and $32,0Oo,Oo Of augmented re-
sources; and this in year when the de.
posts and resources Of the associated
banks Of New York showed heavy de-
cline.
Considering the setback which saw
ings banks experienced during the COM
mercial depression of 1898. the recent
increase in number of savings bank de-
positors in this state is gratifying; they
report growth as follows: :63,293 depos-
itors in 1902, 1883 in 1908. 76.432 in
1904, and 1889 in 1905, an increase of
80 per cent in the past three years. e.
Another gratifying feature is the dis.
position Of private bankers in this state
as fast as practicable, to put their bust.
ness into shape for incorporation unde,
| either the state or national banking
laws. During the sixteen months be.
ginning Jan. l, 1905, down to May l.
1906, eighty nine new state banks have
been chartered; Of these twenty -fou,
were private banks and two were ma
tional banks converted into state
banks; the remaining sixty-three are
new banks, brought into being by local
development or the development Of new
population centers, and by the added
productive capacity and commercial
needs OF our commonwealth.