Smyrna times., 1922-12-27
BANK DEPOSITS IN DELAWARE
Show a Wonderful Effort on the Part
of People to Save-State Commits
missioner MediIl Makes Report

missioner Medill Makes Report
Bank deposits in the State and ma
tional banks throughout Delaware
have increased approximately $780,
900 during the year 1922, rejecting
the return of sound business condi-
tions in the State. Corresponding with
the increase in deposits, the banks re-
port increase in the number of depoSi-
tors, ranging from 10 to 20 per cent.
These figures show that the banks
have enjoyed an unusually prosperous
year, far outstripping the business of
1921. The bankers are a unit in the
belief that business in the incoming
year will reach an even higher level.
The $1,500,000 figures on the increase
deposits is not official, but it was
learned from reliable sources that this
sum is a reasonably accurate state
ment of the increase in deposits. In
the report of George L. Medill, State
Banking Commissioner, made public
several weeks ago, the latest figures
on the total deposits in State and ma
tional banks are given. These figures
show that on September Is there was
on deposit in the state banks, the sum
of $65,000,000 and in the National
banks up to June 80, the sum of $21,-
100000. Practically all the banks re-
port an increase in all branches of
their business, a notable feature of
which has been the growing tendancy
among people of moderate means to
lay aside a part of their earnings.
These depositors have steadily in
creased in number as the employment
crisis waned, and every bank has
more depositors of this class now than
at the beginning of the year.
Strong and Progressive Banking Laws
Reports from the bankers credit
much of the splendid conditions now
existant to the unusually strong and
progressive banking laws now pre-
vailing in the state, which are gener-
tally recognized throughout the coun-
try as banking legislation of the high
est order. The enactment OF. this leg
islation is credited to the active cam
/ paign of the Delaware Bankers As
sociation. The first legislation obtain
ed thru the activities of the associa-
/ tiOn was the act establishing the State
Banking Department in charge of a
commissioner which took the adminis-
tration of banking affairs out of the
! hands of the State Insurance Com
missioner. This act was passed in 1919
and has proven highly satisfactory.
During the legislative session of 1921,
the new banking code was passed,
bringing into one measure practically
all Legislation dealing with the banks
and trust companies. This measure is
considered a model enactment of its
kind, and some of it's features have
been since copied outside the State
During the past year through the es-
tablishment of a closer relationship
between the banks and their patrons
the sale of worthless stocks and Sc
curities to the bank customers has
been considerably reduced. The Della
ware Bankers Association has taken
leading part in this movement anO
placards containing warning against
such purchases have been posted in all
the banks with advice to '"Consult
Your Bankers" before making such
purchases. 1t is likely that the State
Bankers Association will present a
measure to the incoming Legislature
designed to wipe out the business if
"wild securities" and providing drastic
penalties for those convicted of such
practices.
Inspection of State Banks Completed
State Banking Commissioner George
L. Medill completed his inspection OF
the State banks and trust companies
last week, as provided for under the
act creating his office. In comment
ing on the result of his inspection Mr.
Medill made the following statement
Every State bank and trust company
has now been examined and, generally
speaking, have found conditions are
good. AS result of my calls on the
banks have noted that investment Sc
curities have increased considerably
in market value as compared with a
year ago. The increase in deposits
has been so large that the banks have
to borrow only little money in New
York and Philadelphia. In every re-
spect conditions are sound and there
is in evidence tendency pointing to a
continued improvement of conditions