The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-09-23
While Deposits Are Twelve
Millions Above Those OF
September Call of 1916
CITY'S FIRM HOLD ON
FINANCIAL LEADERSHIP
Hearty and Generous Co-ope-
ration for Upbuilding of
Whole South Prime Reason
for Its Banking Growth

Richmond's title TO the claim long
made by It's friends that it is the imam
ciaI capital of the South is vindicated
today as never before.
In banking resources its nineteen
financial institutions are showing rap
Id but healthy growth. showing IN
ereases In every essential department
of the banking business. having gained
in one year ST., o00,00 in assets and
s12 900. 600 IN deposits
II is not the fact alone or prfncf-
pally. however. that Richmond has
money in the banks that is daily Civ
ing II q firner hold on the financial
premiership. 1t is the more signth-
cant and more far reaching fact that
those funds are being distributed In
q fashion that rebounds to the credit
and increased reputation of the city's
banking and financial community
The funds modified here by reason
of the stability and tried trustworthi-
ness of the city's banks are not held
solely for Richmond's development
but they are now and have for years
been used literally, carefully and
promptly to assist In the legitimate
development of the entire South.
Rtchrnond's Triumphant Answer.
That was Richmond's triumphant
answer In its whirlwind campaign for
the Federal Reserve bank--not that
it had more money or even near SO
much as at least One OF its com peti-
tors, but that the money 1t had was
used for the common financial well
fare OF the South.
All OF the city's bank and trust
companies have published their re-
ports in response TO the call issued
September II by the comptroller OF
tshe~earrency and not only are these
f~ures row available. but condensed
statement showing all of the essential
figures In detail are published else
where in The Virginian this morning
The totals are extremelv satisfactory
to every man who takes pride in the
progress Of the city
Assets Increase SIT 90 600.
The total assets of the banks rs
shown by this statement now reach
the Hpienssit sun Of sT2.sfG.sg4 40
and increase OF approximately seven
teen million OF dollars over the re-
port of September IL. 1915. when the
totals was, In round numbers. $685.
600. coo
Richmond people have more money
In Ia nix than ever before, the tndi-
vfdual deposits being sse,35n.12esN
while the total deposits are ss3sss,-
~ twelve millions of dollars over the
report of one year ago.
Richmond is strong in its banking
capital Not only has II several Of
the largest and strongest banks in the
South. with traditions OF success and
enterprise behind them for deca des
hut its aggregate hanging capital
surplus and profits are now not far
from twenty million dollars, divided
as follows; capital. sa.s7s.750. sur
Plus. s7.1Sl eco and undivided pro
fits, hess interest and expenses. So
2ss.5e64s
Interesting figures showing the ex-
tent and scope OF teh banking bust
ness here are those indicating the
total loans and discounts. which are
now s75.4ss23a2o. However In ad
dition To the volume OF commercial
paper handled as indicated by these
figures the Richmond banks own
stocks and bonds of a market value
OF t11. 5f4, 1884. while they conduct
their business by the use OF reaI
estate. furniture and fixtures having
an aggregate worth of s..1as.essss
Richmond had been growing stead
lily for years In its banking interest
but the day George Seay and his as
sociates got the reserve hank bug in
their systems might be termed the
red letter day in Richmond ffnan-
cia1 career. When they got started,
with banking statistics of the talking
kind several yards long not only
available but so inoculated In their
systems that banking figures Just
ozed out whenever they opened their
mouths, Richmond was a made bank
ing town. With all OF its progress
however OF the past two years its
friends and wvide-awake bankers know
that the city is Just on the threshold
Of its financial career As It's gener-
ous financial policy has helped and
vii continue ohelp develop the en-
tire South. so will the development
o fthe South continuously dehound to
the financial and comemrcial growth
OF Richmond.
List OF Ranks.
A list of the banks of the city fol-
lows:
American National. Bank of Com
merce and Trusts, Broad Street bank,
Broadway National. Central National,
Church Hin bank, First National. Me-
chanics and Merchants, Merchants
National. Manchester National. Ma
tional State and City. Planters Ma
tional. Richmond Trust and Savings
company, Savings Bank OF Richmond.
South Richmond bank, Union Sank
OF Richmond. Virginia Trust COM
pany, West End Eank, and Old Do
minion Trust company.
Banking totals do not include Fed
eral Reserve bank figures or increases.
which would make total bank assets
of two hundred millions.
FEDERAL, RESERVE RANK