Bridgeton pioneer. (Bridgeton, N.J.) 1884-1919, 1917-01-04
new JERSEYS
PROSPERITY
Banks Show Enormous
Total of Deposits.
ALL BANKS SHARE
Business Conditions Better Show
ing 40 Less Failures Than
During lois.

trenton, Jan. THAT New Jersey
mas shared largely in the generaR
prosperity of the country during 1916
Is shown by the fact that the amount
! on deposit in the banks of the State
! at the close of the year reaches the
enormous total of $71S,0O0,0 900. State
| Banking and Insurance Commission
| er George M. LaMonte reports that
not only have the banks under his
Jurlsdict on very largely increased
their resources and deposits, but the
building and loan associations of the
State have increased in number, with
large increases in membership and
resources.
| The III trust companies, % State
banks and % savings banks of this
State have increased their deposits
more than $7O,OO0,0OO, and their re-
sources advanced more than $74.O00.-
600, during the year The figures Civ
en- by Commissioner LaMonte make
luS SuOWlnR.
Aggregate deposits at the begin
ming of the year, 97,01O 101.44;
present deposits, $467 ,3O3, ,5O7.s3; gain
for the year, $7O,293, ,4O639. Total
resources year ago, sac, ,04O, ,723. Al;
present resources, $550,349, ,742.S .S9;
gain during years, s74,3O9, 9,O194S.
The increase for the year in the
surplus funds of these financial insti-
tutions has been $1,sf5,26645. A year
ago the surplus amounted to 27,744.-
434 "a, while at. present these fnsds'
aggregate $29,649, ,701.09.
The National banks in the State
are not under the jurisdiction of the
State Banking Department, but their
last report to the Comptroller of the
Currency at Washington showed de-
posits of more than $25, 100000 bring
ing the cash on deposit in all the
banks of the State up to more than
$71S,OOO 900.
Business conditions in New JERSEY
improved in 1916 so that there were
40 less failures than in 1915. The
number in bankrupticie instituted in
the United States District Court dur
ing the past year from all sections
Of the State was 1886, compared with
4S6 during the preceding year.
Of these bankruptcies, 95 came
from Newark, and 81 from the other
towns in Essex county outside OF
Newark. This is not regarded as high
| for a county as populous as Essex,
and with So many thousands of busi-
ness enterprises.
Mortgage foreclosure suits in the
Court of Chancery, always a barom-
eter of business conditions, have
fallen off somewhat during the latter
half of 1916. Although no compila-
ton has been made it is roughly es-
timated that the number of such suits
brought during 1916 is less by nearly
!, one-third than in 1915.
The manufacturing industry for
: the IL months showed an expansion
F, valued at $2O,640,753. as represented
solely by the construction of new fac
!, tories. This is approximately 400 per
cent. greater than that of any preced-
ing year. The figures are from the
compilation of the State Bureau of
, Labor Statistics.
The report shows that during the
year there were 221 new industrial
plants started, while more or less ex-
tensive and costly additions have
been made to 25S existing establish
ments. The initial capital invested
in these new plants, including land,
buildings and machinery equipment.
is $11, sos, ,93S, and the cost of the
enlargements of existing factories is
/ S9,131,S15. The average amount ex-
pended on the new plants is small
fraction less than $52,077 each. while
the average expenditure for each en-
largement was $35,359.
The influence of the European war
,, is seen in the fact that the manufac-
ture of chemicals, used largely in ex-
plosives, leads all other industries in
paxv oonctr,at;o~