The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-13
TINCEY'S REPORT SHOWS
THRIVING CONDITION IN
FINANCE AND COMMERCE

There has been greater increase of
activity among the mining. commercial
and financial interests OF the state dur
ing the last tive years than there had
ever before been during a correspond
Ing period in the business history Of
the state. according TO the report OF
Secretary of State Charles S. TinEey
which was filed with ,iovernar Cutler
yesterday afternoon, and which will
be submitted TO the legislature some
time next week
The report covers the Interim be-
tween jan l. 1905, and Nov 80. 1906.
The receipts for this period were s123.-
s51.44 rs compared with $SeS09.l5 for
the two years from Jan. l. 1908 20 Dec.
81. 1904. OF the total amount received
$40. $50 was from insurance companies
for annual fees and licenses.
The expenses of the biennium were
S15-5I3.21 which was more than cOsered
by the appropriation IF slG-J0e made by
the last legislature.
Secretary Tfnsey st0tes in his report
that his Office needs a complete modern
system of fling cases to cost 1900
The work in his Office is steadily in
creasing in volume. and additional
clerks must be hired. He asks for an
appropriation of $500 for clerical ex-
peLses for the next two years, and q
contingent fund of $4,000 viii also be
required.
The last legislature appropriated
$500 for bronze medals for Indian wsr
veterans. and these medals have been
exhausted. An appropriation of $3.50
Is asked for in order that more medals
may be secured to give the veterans
who have not heen supplied medals.
In that section OF his report dealing
with banks and banking, Secretary
Tingey says that at the beginning Of
the biennium there We're twenty-seven
corporate or state banks and six pri-
vate banks in opera ton here. Their
combined resources were s52.6S2. or. In
1905 Wells, Fargo & Co.'s bank discon-
tinued business in the state. Its re-
sources were $2S,1T0, go. At the close
Of business Oct. e. 1906, there were
forty-nine banks in operation Of
which number three were private in
stitutions. Their combined resources
were S35,011, S35. Two other banks were
incorporated since that date and be-
fore the close OF business for 1906
These were the Farmers & Merchants
bank OF Provo with capitalization for
100000, and the Japanese-American
bank at Ogden. capitalized for $780, 00
From reports submitted il is evil
dent that the banks coming under the
supervision OF this Office" says the re-
port. ARE in q healthy and solvent
condition, and the reports show
steady and general increase III the
volume OF business"
Under the head OF corporations, Sec
rotary Tingey reports that S2S corpora
tons have been formed since his last
report was filed. and that their aggre-
gate Capitalization was S159 12S. $50
There were eighty-four churches and
religious interpretations, with an ag-
gregate Capitalization Of S447310 For
eign CORPORATIONS admitted for business
purposes were 122, capitalized for 500
$4,000 There were land patents is
sued for seventy-one acres of land.
and COZ commissions were given To no
taries public.
Insurance Department.
The insurance department is given
special consideration. There are one
fire and two life insurance companies
organized within the state These are
the Home Fire, with a capitalize ton
of $3.50. 900; the Continental Life Insur-
ance & Investment COMPANY, with Il
capitalization of $500 000, and the Bea-
eficial Life Insurance company. capt.
talized for 100000, a total capitaliza-
ton Of $3.50. 900
There are ninety-seven foreign fire
insurance companies operating here;
fcTty-one foreign life companies. three
casualty companies and eleven corpo-