The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1916-01-14
STATE BANKS HAVE
LARGE RESOURCES
Big Increase Shown Throughout the
State in Report.

Big Increase Shown Throughout the
State in Report.
Banking conditions in Montana dur
ing the past year are we'll described in
an article in the Financial Age of
New York, written by H. S. Magraw,
state bank examiner. It is one of
many articles carried at this time of
the year on conditions in this part Of
the nation.
Mr.. Magraw calls attention to the
fact that in ten short years the re-
sources of state, private and national
banks have increased 285 per cent.
He calls attention to the splendid fl
nancial condition of Montana, due to
the big crops and the metal output,
and concludes by showing that the
state got the lions share of prizes on
her agricultural produce at San Fran
cisco. He says that the present re-
sources of state and private banks
are $71, ,636.54. The article fol-
lows:
"The beginning of the year 1915 in
Montana showed little reflection of
the uncertainty which was felt in fl
nancial circles in other parts of the
country. The short crop of 1914 had
caused an unusual demand for money,
which condition continued up to har-
vest time.
"At the beginning of the year the
banking department of Montana, in
cooperation with the comptroller and
the supervisors of other states, began
a determined campaign against over
drafts. The bankers Of the state gave
their fullest cooperation and most
satisfactory results were accom-
plished. The call of September g
showing a decrease in this amount of
SO per cent since December 81, 1914
"The bankers are as glad to get rid
of the overdraft evil as we are.
ION March 6 the new bank act be-
came effective. This new law was the
result of an organized effort on the
part of the State Bankers associa.
ton and has proven very satisfac.
tory.
"The new law designates the state
examiner as superintendent of banks
but provides for bank examiners sep.
arate from examiners of public Of
fices which comes under the supelvi
sion of the state examiner.
Besides codification of the form.
er law the new bank act contains sew.
eral new and important features. The
principal ones are-direction giver
the superintendent of banks in grant
ing charters, prohibition of future or
ganization of private banks and pro
vision for two examinations year.
"The bumper crops of this year, to-
gether with the good prices that hay,
been obtained for all products, have
put Montana on a better basis thar
ever before.
"In these days of hundred millior
dollar banks the total resources of 211
state, 21 private and 65 nationa
banks in Montana (September 2
1879 1921 ,32O,11213 do not seem O.
great moment, yet the wonderful
growth of 285 per cent in state bank!
in ten years is just the beginning
The full significance of this growth
may only be realized by considering
that it has been brought about during
the period of agricultural develop
ment. Montana has 35 million acre.
of tillable land as yet only four mil
lion acres have been brought unde
cultivation.
Mining in Montana is now devel
oping rapidly and producing enor
mously; the livestock industry ha
long been recognized as Of great i'm
portance and the fact that all granite
prizes at the Panama-Pacific expo
sition were awarded to Montana indi
Gates the possibilities of our wor
derful empire. With a greater devel
opment of four great natural re
sources we may come to full res
lization of the "Treasure State"