The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1931-01-23
BANK FOOTINCS
CONTINUED from front page)

last call land LnaC Is small, anu
due to large county deposits. The c
bank showing the gain is the
Farmers & Merchants State Bank
of Plentywood. It's footing in Sep
TENDER were 1925, 622.80 while its
footings December 81 were $780,
225.46, or a gain of $4,6O2.66. The
decrease in the footings of some of
the other banks is considerable.
Comparison of FOOtings
A comparison of bank footings
published on September oath and
December 81 the Sd and 4th call
of the year, discloses the follow
ing facts:
The Citizens State Bank of
Dooley showed a balance of $751;
O76.51 at September call and $685.
346.77 at December call or a loss
of $4,729.74. Farmers State Bank
of Westby $183,693.01 and $149,-
494.78 or a loss of $34, 1928.
Farmers & Merchants State Bank
of Plentywood $299,622.8O as a
gainst $304,225.46 or a gain of $4,-
6O2.66. Security State Bank of |
Outlook, $191, 001.49 and $170, 169.-
IA or a loss of $2O,832.35. First |
State Bank of Medicine Lake
$2O4,513.18 against 92,809.41 or
a loss of $11, 7O3.77. The First
National Bank of Reserve, the on
lily national bank in the county,
S238, $3.50 as against $215,O 74.O9,
a loss of $23,614.SO-a total loss
for all banks of $88,475.73.
Banks Prepared
The banks of Sheridan county
are quite prepared for the damands
of the future and all have quite
large cash reserves and liquid as
sets. Long ago these banks quit
loaning money to any one on any
security, and have been collecting
where ever it was possible to get
a cent. Most of the banks moneys
are now invested in county, village
and school district warrants which
they buy in many cases at a dis
count and deposit with the county
as security for more funds. In fact
most of the sinking funds
of the county have been deposited
with the banks on this basis. These
warrants draw six per cent inter
est and constitute the main earn
ing of the banks. In case of nee
essity they can be sold for cash al
4 several place quickly and the
money made available to meet
daily demands.
Banks Can't Make Ends Meet
: However, the constantly decreas
tn ing deposits in the banks are max
I'D ing it harder and harder for thu
te banks to pay overhead not II
IL speak of paying dividends. TIL
in earnings of the banks are aug
en- mented as much as possible by
e system of discounts and charges o
every imaginable description tina
81, human ingenuity can conjure, iron
y taking exchange on every posslbl
ol check cleared, from discount1ng "a
o. madam money, discounting warrant
even where money is available fo
payment upon presentation an
charging service fees for handling {
accounts of $50 or under; selling III
sss hail, and life insurance, and convey
be. ancing-in fact by charging whel
De- ever it is possible to do so. But ST.
lty there are small earnings If an
lty above the running expenses or II
'a at banks.
a. Now. that the county has return
ed to the policy of investing Il
re sinking fund moneys in county al
oIe school district warrants, thus r
~ o drawing the same from deposits
81 the several banks, and by this meal
III - frafaraCf IN III
M sinking fund and the taxpayers, !
.a stead of allowing these earnings
10 go to the banks as County Treasur
CO., CO. holman has made it his policy
~ do. these earnings, now amountil
.e from $4,000 to $4,000 per year W
,afs be cut off from the banks, redu
az ing their earnings just that mu
,ev. more.
ney All OF which means that pecau
line Of the reduced earnings there "
be more consultations of banks
,on- the county during the impendi
months. In fact the sooner this
done the better it will be for
ohm concerned, for in this way thousar
80 of dollars of overhead expense
be saved, besides rendering
- 80 banks Just that much moer secure
An examination of the statemel
o.,s of the banks which is printed bel
go in an analysed manner, discloses {
s sn bank in the county that is not pi
' ing operating expenses, and VIII
is putting up the notes of the b.
- for borrowed money--the bank
old Dooley. This condition does not
OF list at the other banks.
A study of the deposits, the C
De- and liquid assets, and the loans
discounts of the county disclose
following facts: There are on der
you it in the banks OF the county,
from ject to checksQn certificates or
me posit and other time deposits,
are rowed money, cashiers checks,
adj to other banks, reserve for ia.
: in ETC., subject to demand, and payn
y to when due, the sum Of $S94,S8.
you and the banks have on hand to
nave. the same If required, the sum
,cess $500, 124.47, leaving balance or
FOR posits tied up in notes, etc.,
tba S3S8,26461, which are what is
termed frozen assets" and not aN
and able to meet demands.
The loans and discounts I
Ies S511,174.82 whic hincludes the a
$3S8,264.61, and the capital stocl
the banks which are not investe
me- banking houses and fixtures
other real estate, which amour
e not SOS, 092.02. This is also frozen a:
.verar not available to meet demands,
then. in final analysis of very little V
ps up The capital stock or paid in in
lonzo. ments in these banks amount
he old s130,0O0 of which over half is
. pole en- in other real estate and in
"and ing house furniture and fixt
vi" and from the balance must bC
Anile Quoted the $1,679.3O, the last .
operating loss Of the bank at d.
, clip Added to the capital stocl
,nalist $4,000 is the sum of SAT ,OOl
total SURPRISES and the $16,730.
ew of undivided profits, amounting
Secre- $193,730.57 In other words the
FEEDER ital stock, SURPRISES and undi
ink a profits, the last OF which is 81
a and to withdrawal and distribute
Ada any moment, amounts to $193, Z
ything the bankers money against SS9'
Z the 08 Of depositors money. The
tai stock or $130,00O carries {
"a oon. liability, If collectable. for the
- Tor lection Of the depositors.
money Bank Footings