The Seattle Star Newspaper, September 11, 1909, Page 4

Feared R. R. SPENCER, Ist Vice Pres. The National Bank of Commerce OF SEATTLE UNITED -SFATES DEPOSITARY STATEMENT OF CONDITION AT CLOSE OF BUSINESS, SEPT. 1, 1909 RESOURCES Loans and discounts ...... ... ‘2 7,120,320. 88 Overdrafts ........ SeWeeecee senuee 2,022.14 State, county and city warrants cat esse 6D Real estate, furniture and fixtures....... ccseseeveess 28,220.64 Foreign government, R. R. and oth- > ee ee oe edbrecboacces osseee ee 686,353.54 U.S. government bonds .......0c0. cee veces e coerees 1,152,500,.00 Cash—In vault .......... . -$1,871,648.98 BOE ROE hbo Ure vp cesicse oes . 3,867,006 .60 In U.S. treasury ...cssseese08 oes 29,152.50— 5,767,808.08 Tetal hac wee 600 osc ntediesceeece: coseeeecn 90s: ol 4GG,020.a7 LIABILITIES EDMM wig vicvecencs o< a and profits ...... Bond account Circulation ..... Padwiek cay Kbbsves reese Acceptances under letters RIE A nia cic sche Se asiceee . a ee owas swbesenvn eG OnGGl.2e BOE sca sess + «+ 2,241,736.87 United States . «» 848,504.18— 12,176,902.28 OUD. Sia cose cs ress PE ee. are NGby -“avews $14,894,020. 27. OFFICERS M. F, BACKUS, President. O. A. SPENCER, Asst. Cashier. RALPH S. STACY, 2nd Vice Pres. E. OLMSTEAD, Asst. Cashier. J. A. SWALWELL, Cashier, E. L. GRONDAHL, President. JOHN ERIKSON, Vice President. A. H. SOELBERG, Vice Pres. & Cashier. ARTHUR C. KAHLKE, Asst. Cashier. Condensed Statement of Condition The State Bank of Seattle SEATTLE, WASHINGTON AS RENDERED TO THE STATE EXAMINER AT THE CLOSE OF BUSINESS SEPTEMBER 1, 1909. Resources Loans-and discounts ...... .....+6+ covet iwe ne 6000 os 083,716.74 Banking house, furniture and fixtures ..... ...-eeee-05 10,000.00 Expenses and taxes paid ... . 7,733.58 Interest accrued ..... ... 5,410.09 COMET TESOUECES. 5 oie cans Tees ece EME eee ah akk ee 5,552.17 U. S. and other high-grade bonds ... .. ..$ 77,791.44 County Warrants 5.0. coces ccc verss oe oe 17,834.38 Cash on hand and due from other banks .... 394,949.93— 490,575.75 MT ee al bs sik as bie e si nsece es saiee Sets ian $1,202,988. 33 Liabilities Re NN NE ON 65s. sic cbc end bce ieee be bee cde $ 100,000.00 Surplus and undivided profits ........... .0008 onigaes 13,798.38 NE ai inn ki iii did'p 945 oo 6 We ca, oak ne io 45.00 Individual deposits Nb a siinscpecatiedvass b4.4> Savings deposits and time certificates .., . -$667 832.15 53,245.11 . 368,067.69 1,089,144.95 Total SD NE Ee COLIN $1,202, 988, 33 ee ee Deposits July 15,1908 ......... 2.4. 593,596.64 Deposits September 15, 1908..... + 642,540.28 Deposits November 27,1908 666 seseee ees 685,897.16 Deposits February 5, 1909 ...... ..ss00 0s 771 fore Deposits April 28, WP ves ioksas. eee 806, 5.81 Depowits Fine 23, 1908 iiss cove bivds wees 883,502.36 Deposits September 1, 1909 1,089, 144,95 Conservative Business Invited R. S. WALKER, Asst. Cashier. voowrnmr 11, TR. north era yOanrtTE |CLEARING HOUSE STATEMENT GIVES | FINANCIAL STATUS ||SEATTLE BANKS HAVE MADE REMARKABLE PROGRESS AND HAVE GROWN BETTER STEADILY IN PAST YEAR Record Made Here Stands Out Far in Advance of 1 That of Other Cities in the United States and the Banks Have Much to Be Proud of, Says Secre- tary of the Clearing House. Never before in the history of Seattle banks have the savings deposited by the people of thia city been so enormous or the gen eral condition of these institutions #o healthy as they are today. This ts the unanimous opinion of local bankers, as expressed by them in predicting for this community an era of prosperity that will eclipse all previous strides made in the commercial develop ment of the city > Nothing more convincingly indicates this remarkable and nat- ural growth than the figures of the Seattle clearing house, which are generally accepted ag a barometer by which to judge commer cial progress. At the request of The Star, J, W. Spangler, mana wer of the credit department of Dexter Horton & Co."s bank, today prepared figures showing that during the cight months ending Aw | with Gust 31, 1909, the clearings were §260,933,575, as compared $265,894.056 for the corresponding period of last year, Clearings Surpass Ail. The records show that these figures surpass those of Bt. Paul, Indinnapolls, Buffalo, .Peovidence, St Joseph, Mo, and ali Pacific const cities, with the emteption of fan Francteco. “When a city’s bank cleartngs are on the (ncreane Ike Seattle's you may rest assured that that city is enjoying a period of prosper ity,” eald Mr. Spangler. “It is perbage the only safe and sane way to judge the status of commercial development. Increasing bank clearings presage prosperity, Of that there is no doubt. The healthy increase here points to better conditions fm all commercial Hoes. The outlook, as far as can be determined by the usually accepted signs, is ox | tremely eveournging. With the resumption of lumber and shingle mill operations, business ‘Is certain to surpase all previous reo orda.” Millions in the Banks. Mr. Spangler submitted figures showing that on Sept. 1 of this year there was deposited In Seattle's banks $75,376,206, as againat $69,368,791 on June 23, 1999. Only three times im the past three years have there been any setbacks to check the steady increase, The heaviest one dates from August 22, 1907, the beginning of the so- called financial panic of that year, when the deposits were $69,135, 439. By January 14, 1908, they had stumped to $57,143,028. Another evidence of the growth of the Seattle banks is found in the fact that in three years their capital stock, In the aggregate, has increased from $3,521,600, on Sept. 4, 1906, to $6,197,000 on Sept. 1, 1909. The statements of national banks called for by the | interesting figures, which substantiate Interviews granted The Star today by some of the leading bankers of the city. Seattle Banks Were Never More Prosperous. M. F. Backus, president of the National Bank of Commerce—-The banks of Seattle whre never more prosperous than they are at present. The deposits are greater than they have been in some time. This is always an encouraging indication, presaging, as it does, prosperity for everybody, This condition can be attributed to several causes. One of them fs the output of gold in Alaska. This has been enormous of late. Another is the extraordinary pack of fish this year. Much of this has already been sold, and the pro ceeds are now in the banks, The millers and grain buyers will han- die in this state this year the greatest crop of grain in many yoars. This ie « sign of prosperity that nover fails. The A-Y.P. expost- tion, I might add, Is another cause for increased deposits. The out- look for greater commercial activity in all Ines is even brighter than it has been. | C. B. REMSBERG, Presider J HARWOOD MORRIS, Cashier The Ploneer Bank of the North Ind, CONDENSED STATEMENT OF SEPTEMBER 1, 1909 | RESOURCES. | Loans, discounts and, averdrafts i] Banking house, furniture and fixtures 1 Other real estate, . Capital paid in axe H] Surplus and undivided profits . Deposits Cashier's checks ..... Total 0.164 scvecsveseed soossvvevecesesserooeeves $212,518.81 Growth of Deposits since November Ist, 1906+ Total Deposits | November 1, 1905 ... ees e$ 12,787.61 Japuary 1, 1906... + July 1, 1906 January 1, 1907 , July 1, 1907 January 1, 1004, July 1, 1908 . January |, 1909" September 1, 1909 6) ),667 60 We invite a careful study of this statement andrask you to do your banking with your home bank comptrotier of the currency, and printed today, also show some | ont State Bank | 8. P. DIXON, Viee President. | if i THE SEATTLE INATIONAL BANK REPORT MADE TO THE COMPTROLLER OF THE CUR. RENCY, SEPTEMBER 1, 1909. 2 THE FIGURES Capital stock ....$ Surplus) and = un- WHAT THEY MEAN Investments of stockholders. 500,000 ..00 5 divided profits.. 353,894.66 } CHCUIARIOR « c0.050.. 1 SUOD0O00 :, Meee eee Oe same om to anda an Deposits... .... + 8,775,369.36} ""vomen, the federal, state, county a a atau approve our standing met) 5 Total.... . $10,129,264 02 Loans «se. se++.$ $404,466.78} U. S. bonds, at par 1,400,000..00 } R. R. bonds and warrants...... Money safely placed for aetive circ Same as cash. 1,075,995.83 } Migharato nrontmenta Furniture and fix- Pesees, eas tures RABIN AT} Seoul at tener Cash and exchange on hand 5F Sal law only requires 26 per cent; per cent is extra margin of security, Total .... .....$10,129,264.02 Comparative Growth Shown by Statements ~ ed Years September 4, 1906 . ces ahene 2 eens ae ii August 22, 1907 ....... eres escce 66 SUR MOO. ES oa September 23, 1908 ag adae boned come Pee [ September, ISOP 6s. . cccsccnss sovincss Mtoe New Accounts opened since January, 1909, 1,533. OFFICERS E. W. ANDREWS, President. E. G. AMES, Vice President. J. W. MAXWELL, Cashier. H. C. MacDONALD, Asst. Northwest Trust & Safe Deposit COLMAN BUILDING, SEATTLE AT THE CLOSE OF BUSINESS, SEPTEMBER 1, 1909 Safe deposit equipment Furniture and fixtures .......... Government and railroad bonds ..... .. . .$ 82,000.00 393,209.58— 475,209.58 Cash on hand and due from banks , Total Surplus and undivided profits ......... * Deposits It is our aim to pay our depositors such interest and to afford — them such facilities as are in accordance with sound business principles. Qn this basis we invite your account. E. SHORROCK, Pres. JOHN P. HARTMAN, Vice Pres. J. V. A. SMITH, Cashier. accommodations % Securtty and facilities for 7 Reserve funds avaliable to meet needs of de Amount Pe Cc. L. LAMPING, Asst. Cashier Report of the Financial Condition | Leste ilecabes < Glen Cee $1,212,741.35 | Capital stock gaid th... 0.06 Mi Tel ce see déas sev¥as $ 100,000.00 ALEXANDER MYERS, See