The Miller press. [volume] (Miller, S.D.) 190?-current, 1913-04-03
OF BANKS
AN INTERESTING REPORT MADE
BY THE STATE BANK
EXAMINER.
HAPP ENINGS OVER THESTATE
What Is Going on Here and There
That is Of interest to the Read.
ers Throughout South Da-
kota and Vicinity.

Mitchell.-State Bank Examiner
Wingfield has issued the statement
showing the condition of the state and
national banks made under the call of
February 4. The statement coVer
practically the years business of 1912.
There Is a decrease of 81, 1888, 432.09 in
first real estate mortgages, while in
the total of the there is a
decrease of S., O08, 555. so, the total for
the February call being s107, 276,-
0S8.11. In the liabilities there is a de-
crease in deposits subject to check of
$1,674,377, while there is a decrease
Of 1921, 070.25 in the savings de-
posits.
In discussing the financial condi-
tons as prevail throughout the state,
the state bank examiner makes the
following statement:
The reserve condition of the banks
at this time is normal and shows a
slight decline Of thirty-two-one-hun-
dredths of l per cent, but remained
strong at 29.10 per cent, notwithstand-
ing the decline in deposits of $780,
600, and a distribution of dividends to
stockholders CT $3.50, 900.
Deposits showed the heaviest aver
cge decline for any similar period for
many months, due in large part to
interest and tax payments and the
March i settlements. A large amount
is required for settlements and real
estate loans that mature around Feb
ruary / to March l, most of which
money goes out of the state. The
country in general has in the past
three years been depleted in the mat
ter of live stock, but early spring ship
ments have begun and cattle are again
being put back on the ranges, ranch
es and farms, Notwithstanding that
they are going higher in price. The
money mat is used for buying grazing
cattle is a prime factor in the educ
ton of deposits in the state.
To take care of the demands of bus
mess and Offset the heavy withdraw
ais of funds, banks increased their
bills payable and rediscounts $780, 900
and reduced loans 50, 000, 900, thus pro-
viding $~2,450,000 of funds whereby to
hquidate $~4,325,000 actual withdraw
ais. The balance of the funds neces-
sary to take are of Withdrawals was
realized from liquidation of bank bal
ances, bonds, warrants and other Sc
curities. The natural conclusion is
thai the demand for money is strong,
with good offering for security at rath.
er advanced rates.
This call, as compared with that of
November 26, 1912, shows the result
Of the past years business. Undivid-
I'D profits was reduced So S3.172.51.
This is accounted for by the following
items being credited out of the ac-
count: Expenses, $1,441, 526. 73; ad-
vanced to surplus, $179, 565. Is; stock
dividends increase in capital from
profit %account), SOS, 900; for bonds and
securities to secure savings deposits
and circulation, 1898, 1868. The net
earnings on al aggregate capital stock
investment of s12, 255, 900 for the one
half year is $3.50, 900. Most banks pay
semi-annual dividends, so that the
showing of ar earning of $3.50, 900 rep
resents approximately one-half year.
The report shows that two banks
have suspended business since the call
was made in November, and that there
are o 625 national and state banks,
with private banks and trust compa-
MES doing business in the state.