La Junta tribune., 1916-12-30
BANK MANAGEMENT
Some Interesting Data on Economic
cal and Efficient Management OF
hanks In Colorado

During the month OF December, r.
Phillips. cashier of the First Ma
tional Bank of La Junta, sent out
letter of inquiry requesting the CO.
operation of officials OF the various
banks of Colorado in compiling data
relative to efficient and economical
bank management. About zoo letters
of inquiry were sent out to banks in
the state having a capital and sur
plus of from $4,000 to 100000,
and these are about equally divided
between national and state banks.
About one-half OF the banks to whom
letters of inquiry were mailed re-
sponded and gave the information
desired, Notwithstanding the fact
that the average banker has been
drilled in secretiveness and is slow
to give out anything pertaining to
his business.
Among the questions propounded
were the following: Name and loca-
tion of bank, capital and surplus.
demand deposits. number OF check
ing accounts. time deposits and rate
of interest paid, average rate OF in
terest on loans, Is there a demand
for all the money you have to loan.
number of employees who draw reg
ular salary. total salaries paid per
month. working hours, vacation al
lowed with pay. and many others
regarding space occupied by various
departments. etc.
The replies were tabulated and
some very interesting information de-
duced. but the benefit to be derived
from the tabulation depends large
ly upon the individual ability To fig
ure II out. There are 334 banks in
the state. and OF this number los
have capital and surplus less than
$4,000; l39 have capital and sur
plus of 5000 to $4,000: ca have
capital and surplus of $4,000 to
100000. and 20 have capital and
surplus of 100000 and over. Twelve
OF the twenty-three banks IN the
100000 class are In Denver. four
Greeley and Pueblo. and one each in
Glenwood Springs. Fort Collins and
Trinidad. All of the others are scat
tered equally over the state. Among
the replies there. were two banks
who reported no interest on time
deposits These banks are In the
same town and show combined de-
posits of nearly 100000. with a
capital and surplus of only $4,000.
There was one bank having a cap
ital and surplus of not over $4,000
that had demand deposits of s7ao.-
600.
Time deposits ranged from min
imum of $4,000 TO a maximum of
100000, and the rate OF interest
on the same from maximum OF
3 per cent To n minimum OF 30 per
cent. and the lowest average being
SO per cent. The rate OF interest
ON loans ranged from 6 to IL per
cent. with an average In the larger
banks OF s.3 per cent. and In the
smaller banks OF SO per cent,
The average salary per man per
bank ranged from a maximum In the
smaller banks OF s2i0 per month
to minimum OF s65 per month, The
Is tlll.70 per month. and In the
larger banks It ranged from $3.50
per month TO n minimum Of $50 per
month and an average OF $4,000.
In response TO the query concern
Ing working hours some banks re-
port Officers coming on duty as late
M . a. m. and In one Instance 10
a. m. The average OF all employees
II s n. m, to .. m. Two banks
report no vacations with pay and
only few report thirty days. The
average OF all il two weeks. The tab
ulation shows number OF interest
Ing facts that will be OF interest to
bankers all over the state. but we
are not able to give them In detail.
Mr.. Phillips spent hours OF time In
compiling the data and figuring the
averages. but feels that he has been
amply repaid by the great amount
Of definite Information derived IN
efficient and economical bank man
agoment.