The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1914-11-27
FINANCIAL CONDITION WITH AND
WITHOUT SALOONS


The large increase of deposits in
afbe financial institutions of Mt. Yer.
non during the period that the city
has been without saloons. is irrefut-
able evidence of the better financial
condition that exists among the peo.
pie and demonstrates that the savings
of many people are being placed
where they earn interest and for use
In legitimate way that benefits the
whole community. In the statements
yTnade below it should be borne In
rmind that there has been no increase
~of population in Mt. Vernon during
.the period covered.
The election under the county Oh.
ntion law was held on December 1,
-190S, and saloons were voted out of
Mt. Vernon, there being no saloons In
4 any other part Of the county at that
ritime. Under the law the saloons
went out of business with the closing
: of the year and there have been no
saloons In Mt. Vernon since January
s 4, 1909.
The annual statements of the build.
ing and loan associations at the close
of business on December 81, 1908,
show that they had on that date an ag-
sregate deposit Of s434, ,304.77.
The last annual statements of the
building and loan companies, made ON
Dec. 81, 1913, show they had an ag.
f, ,gregate deposit then Of S796 6.3o9.47.
This shows an increase of deposits
In the building and loan associations
,sof 62,O94.7O.
AS statements Of the building and
loan associations are made only once
4 a year, their deposits at the present
istime cannot be definitely determined
and will not be exactly known until
the annual statement is drawn Off
rtheir books on the last day of next
month. Inquiry, however, of the sec.
lretaries of each of the three assOcia-
tions made few days ago, reveals
the fact that there has been very
fheaithy growth during the present
year and that the annual statements
Gu Dec. 81, 1914 will show an increase
of deposits of over 100000.
The deposits, therefore, in the build
ing and loan associations at the pres
ent time amount to $896,399.47 as
against $434,304.77 when saloons we're
voted out, making an aggregate in
: crease of 62,094.70 since Mt. Vernon
!, has been without saloons. In other
F, words, the deposits in building and
lnan associations have more than dou
bled.
The banks of the city also show q
9ery marked increase In deposits dur
ing the period named.
The last published statements of the
banks Of Mt. Vernon whom the city
had saloons, was on Nov. q. 1908, and
they showed an aggregate of deposits
of 1898, ,59395.
The most recent statements of the
banks of Mt. Vernon were made OF
eOctober 81, 1914 and show aggregat,
deposits OF $2,l05, ,9O5.74, being an In
=. crease OF $112,3I179 in favor of sa
\ Sioonless town.
BY uniting the deposits Of all tn,
banks and the building and loan as
toclations of the city II will he oh
served that In 1908, with saloons II
q existence. the total of the money ol
a deposit In the city was $2.427 .S9S.72
In 1914. when there are no saloons
v rhe total deposits In banks and build
f ing and loan associations are $2.902
s305.2l.
" The total increase In deposits
" shown by the sworn statements Of tn
n several financial institutions referre
no, is $474.406.49. Add to this the cor
servatiye estimate given by the SCI
% setaries of the three building and loa
associations OF over 100000 Az bein
the increase for this year, and the to
al increase is $574, ,40649.
I; The above figures can be verified b
H H'snquirles of the cashiers of banks an
secretaries OF the building and lon
associations. Much OF the large II
screase In deposits OF the financial II
M stitutions OF Mt. Vernon represent
savings that would otherwise hav
gone Into saloons. II does not. how
eyer. represent all the savings
any manner OF means, as much NOR
money ID now spent for clothing an
fDOd than was spent when saloon
i we're here to get good portion OF 1
} There is also another phase to tn
financial end Of the proposition. A
the present time the deposits In tn
X building and loan associations aggr'
ttsate about 100000. All this none
{dtaws interest for the depostors. q
+ the aggregate deposits in the bank
y about si.oOo.Ooo draws interest Th