The Montgomery advertiser., 1908-01-05
Best Evidence of Return
 ing Confidence.
BANKERS LOOKING FOR RETURN OF NORMAL STATUS
First National Had $570,0OO De
 posits in One Day.
roarth National Had s24o,ooo in De- posits oa The same Day An Banks Report Increased
 Deposits.

Int increase of deposits in the Mont gomery banks since Christmas has been nothing short of remarkable. And this in the face of panic and money strin- gency talk from other sections of the country.
 The deposits of the First National Bank on January 2, were $570,000. On the same day the deposits of the Fourth National Bank amounted to $240.000. When the bank statements were called for on December 3. the statement issued b. the Farley National Bank showed that bank had the deposits in that bank have increas- ed by $110,O00. There is not single bank in the city that does not report increased deposits.
 The information gathered from the bankers yesterday Is the best evidence of returning and restoring confidence that has been heard since the money panic started Every bank in the city united in the general statement that bank deposits were increasing rapidly. confidence was being restored and the outlook was very promising.
 Conditions have never been bad in Montgomery" said banker yesterday. Montgomery has $2,000,000 worth of cotton and she Is as strong as the Bank of England"
 From every bank in the city a state- ment was secured yesterday.
 There are. I think many evidences of restored confidence said President A. M. Baldwin. of the First National Bank. There can be no doubt that conditions are much better than they were few weeks ago. While 1t Is not our policy to make any announcement concerning our deposits, except those contained in the official statements, l may say that on a single day the End of January, we received in deposits the large total of $570,00O. This mind you were the deposits for one day. That I think is pretty good evidence of the return of confidence."
 President T. J. Reynolds, was equally sure of improved conditions and restored confidence and for the same sort of reason.
 "On one day we received in deposits $240,0o0." said President Reynolds. "This mind you in one day. That is an excellent evidence of improved con- dition and restored confidence. The outlook to me has improved a great deal"
 Another large increase in deposits was reported by President w. H. HoI- loway of the Montgomery Bank and Trust Company.
 Tn this morhing's business" said MT. Holloway, i've received $7.000 in cur dency in deposits. As MT. Steiner, our teller. said, It begins to look like old times No one familiar with business conditions can fail to see the improve ment. Our own deposits have increased very largely in the past few days.
 'HThe Bank of England has just re- duced its discount rate. The statement today by the Banking Association of New York was splendid. I am eonfi- dently looking for the restoration of 1oI aG a 6 a . 100000 dividend payments have been paid and circulated in New York. When that is done believe the New York banks will resume currency pay ments. The entire country will then improve rapidly. The banks in a Ala bama are stronger than have ever known them to be. have just return ed from Clanton where found the two banks there in excellent condition. The bank with which I am connected has fin cash 100 per cent of it's reserve. The loans of the two banks were less than their capital and profits.
 This has been bankers panic. The people themselves have been sensible. conservative and patriotic. Montgom- cry now has something like $2.000.000 worth of cotton and is as solid as the Bank of England"
 While our deposits since Christmas have been nothing astounding or phe- nomenal they have shown a first-class healthy increase and we are entirely satisfied with the business" said M Cody, President of the Exchange Ma tiona1 Bank and the Union Bank and Trust Company yesterday.
 With conditians becoming better in New York every day and the local sit- uation much better than it was before Christmas business in general is ap- preaching the normal rapidly" contin- ued Mir Cody. T know that our bank v1lV AuA xrrf< believe that every bank in the city is doing better than might have been ex- pected few weks ago.
 Not only have conditions in the East become better but right here in Mont gomery things are brightening up ev- cry day. The change is coming stead lily and I believe that within a remark ably short time that business condi- tions will again be on firm basis"
 Our business has simply been mag nifcent" said J. l.. Hall, of the Ala bama Bank and Trust Company, and I know of no other way to express 1t. Starting, as we did, in the midst of the panic and money stringency I was simply amazed at the amount of busl- ness we have done, and the amount that we received on deposit. Our de- posits are increasing rapidly. and soon as this embargo is taken off We ex- pect them to grow very largely"
 MT. Hall said that the AlaD Bank and Trust Company did not issue clearing house certificates for the req son that at the time they were issued his bank was not fin existence and since they begun business there has been no occasion to issue them, for the reason that their cash on hand at all times largely exceeds deposits. "Of course we take them on deposit" he said, land favor the course pursued by the banks in issuing them. We are making loans and transacting our business just as we would were there no money stringency."
 The deposits of the New Farley Ma tional Bank have shown a steady in- crease. notwithstanding the panic talk" said President Bouis B. Farley of that bank. But the figures will give you a better idea of this increase than anything I can say. You remem- Der on December 3 a statement was called for from all national bank s. That statement showed that there was on deposit in this bank $2S7, 7,760.17. To- day this bank has on deposit a little less than $40O.00O. I should consider this a good increase in ordinary times. We have on hand about 77 per cent of our cash reserve.
 "But conditions haveanever been bad in Montgomery. Still they are improv- ing very rapidly from what they were. Montgomery would never have issued fa. . I..a