The semi-weekly messenger., 1908-03-06

| Showing and Proves That Local Iii
nancial Institutions Are on a Sound
and Firm Basis-Address Was One
Of the Most Notable OF the Even
! Ing.
One of the notable addresses deliv
cred at Che chamber of commerce
| banquet last night and one of especial
interest was that of Mr.. C. N. Evans.
{ cashier of the Southern National bank
Of this city, who responded to t1e
toast THE Attitude of the Whining
ton Banks in the recent Panic. Mr.
Evans spoke in part as follows:
ITO this distinguished gathering Of
business men. professional men, ana
politicians men who read, traVel an4
touch elbows with the current analTs
of business, l could perhaps best re-
spond to my toast by reminding you OF
the recent press reports appearing IL
heavy headlines Of the great newspa-
were calling in clearing house ceru-
pers of the country announcing WIN
pride and enthusiasm that this clear
ing house association and that one
we're calling in clearing house cert
ficates, scrip currency and the ike,
thus resuming cash payments say
/ could best respond to my subject
In simply calling these facts to your
mind, and, in the same breath advise
you that, while the stream OF clearing
house certificates were daily passing
through the mail deposits received D.
the Wilmington banks, not one OF the
certificates bore the good name OF I'll ,
Wilmington Clearing House Assocla-
ton, and none were originated Dy
her banks.
"To truly represent to you the posi-
ton of Our banks, we vii select the
month Of November as being the crit
ical period, when the financial storm
winds were highest. On the first day
| Of that month there were five hundred
and forty three smaller banking insti-
| tutions carrying reserve deposits anc
active balances with the natlonal
! banks Of this city, and depending up
! OF theses national banks either Who'll
! ly or in part for their life's circulation
| currency and exchange. The total
| deposits Of our banks at this time in
| Guiding the deposits of our excellent
| savings banks. were over SIX mllhons
| Oh dollars; the total liabilities amount
ed TO about nne millions These tlg-
| ures viii convey some idea of the re-
| sponsibility which rested upon the
Eanks and bankers of the city or Wiz
mington when this perod came upon
Us.
I'D our special relations with tne
smaller banks dealing with us, II Is
One of our functions to 1uru'sn GU
|, rency, in return for deposits MADE up
of checks on various outside BANKING
points in the United States, principal
| present with your permission, fe7 y
| figures showing the actual WORK Der
| formed in the face of this currGnc.
famine. and 5under SotheT s1ehuou
! conditions then existing in the fnan
cal marts, you will, L am sure, feel
great pride in the achievements of tn
Wilmington banks. The figures l Civ
have been carefully complied by tn
officers of the different banks of tn
city, and are therefore correct.
Il have stated that there were fiV
hundred and forty three banks carry
ing balances with the national bank
of this city at that time; it is now m
! pleasure to advise you that in tn
, month of November alone, our ne
tiona banks shipped to these smalit
, institutions, without premium, nv
! hundred and fifty thousand dollars !
actual cash, while shipments aggrega
t ing about one thousand dollars WEI
{ made by one of the savings bank
3 Upon many of these shipments, M
I Toastmaster, depended the integrri1
D and business life Of some sHmll'
9 thanking institution doing business Wit
the Wilmington banks. Annoyed
rumors, threatened by i'll founded r
and
y ,ceeding against many OF these lit
banks.
, "Bnt what about the home demand
! The Associated Press was daily giv1I
= advices of cities, large and small, al
: extending throughout the United Stat
were restricting cash payments
some cases to limit of $1,000 on eat
e demand, and that clearing house &c
a tificates were being issued. Natural
d when this was done and became
e | most general, the demand upon poln
I which were making no restriction
= was increased, and throughout u
:. Carolinas there was interest to kno
a what Wilmington would do. Even /
. caIly there were manifest interest, II
i a trace of uneaSineSs, but while q
d situation was as usual, carefully di
2 cussed in the usual meeting Of o.
Clearing House Association, it was n
er a moment thought or consider
to issue certificates or interrupt, in al
way the usual functions Of our bank
:. Efforts of course were made to secu
+ any available currency without PREF
n ium. but it is safe TO state that n
- So much as one hundred thousand dc
4 lars wasoit:on:ed by our banks for &
" entire month. our dependence bell
q practically upon the usual deposi
le made at home and shipped in by out
I town customers, as well, of cours
!. as the usual shipments Of new Gu
= rency from the redemption bureau
ID Washington. We had large mills bo
- in and out Of town. dependent u
on us for their pay rolls. and our ban