The Birmingham age-herald., 1908-06-30
STATE FUNDS ARE
 ID BE DIVIDED UP New Depository Laws Are De-
 cIared Constitutional FINE REPORT ON ALL BANKS National and State Banks of Misslssip-
 pi Are in Good Condition, the Former Handling Greater Average of Business.
FINE REPORT ON ALL BANKS

Jackson, Miss, June Especial )-rhe supreme court today, Chief Justice Whit field dissenting, declares the state ana the levee district depository laws, two separate acts of the last legislature, con stitutional, and in a short while the two funds will be divided among several banks. At present all state funds are kept in the state treasury vaults and funds of the leyee board in bank at Clarksdale. The constitutionality of both acts was attacked, but that as to the state law was friendly suit instituted by State Treasurer Edwards for his own protection in case of loss of the state funds. The court declared the law as to state funds bunglesome and objectionable in many respects. One feature of the law that was objected to by all the mem bers of the court was that which allows banks securing recognition as deposito- ries to put up security bonds as collate-' ral to secure their loans, such bonds be- ing declared no security whatever.
 According to the total figures given out by State Auditor E. J. Smith on the condition of the national as well as the state banks of Mississippi. there are 316 ! state banks and 29 national banks doing | business in the state, but only 26 of the nationals are included in the report. The national bank at Moss Point sent it's re- port Saturday, but too late to be nclud- ed The national banks at Shaw and at Lumberton did not respond to the audi tors request one way or the other. This is the first time in the history of combination report all the banks, wherefore the informs furnished is not only interesting hu 4luable.
 The total capital paid III, state and na- tional, Is given at $15, no 556.50. of which s3,As,545 is by national banks, and $12- 4s6,s11 by the state banks. showing that the national average about 10 or F times the capital paid in as to the state banks. The individual deposits in the state banks are SILICA 19O, while in the na- tionals they are $S,942,2 2ss, with another average largely in favor of the nationals.
 The same is true of the cash on hand
 item, the 316 state banks showing s, 6S1,- 422 with $1.26OS54 for the nationals. 1 The loans and discounts from the state banks are $SS560,SS5 while for the na- l tionals they are $9,64s, ,65S, another item i that is 12 times in favor of the nationals l on the average.
 | The total resources and liabilities of the
 state banks are $5es76.S65, while the na-
 tional banks show s1S,9SS, ,6s5, or s75 s65, ,O2S
 for both state and national, and here
 also the average in favor of the 26 na-
 tional banks is maintained at about the | same ratio.
 The national banks are capitalized at $5O,0OO to s1OO,OOO while many of the state 1 banks are capitalized at $25000 and sev- | eral at less.
 1 It is reported that the big cotton mill 1 at kosciusko, which has been idle some time, has been sold to northern and east | ern capitalists and that it will resume operations in the very near future This mill was built some six or eight years ago, and it was supposed to be prosper ing until announcement came that it had shut down few months since. The cot ton mills of this section have not been prospering of late, and the weaker ones have been forced to adopt strenuous measures of retrenchment and reform to keep their big wheels moving even on shorter hours
 Will Elliott, young farmer of Attala county, was struck by lightning a few days since, and instantly killed. rain coming up while he was in his field he sought shelter in a cotton house, which was struck by lightning. He was not missed till meal time. and failing to ap- pear after repeated callings search was instituted, resulting in the finding of his small chiIdrap