| Show FIGURES TELL STORY OF SAt T LAKES GROWTH I I c I Gain of Thirtyeight Millions in Bank Clearings I I During the Year 1899 1 I f Deposits Ha increased From Twelve Iillions to Seventeen I I Seven-teen lillionsAdvance In Local Stocks 1 Money is the blood of trade and the bank is the pUlse that indicates its quantity quality and circulation Measured by this test Salt Lake at the close of the year is in robust health Never was money so plentiful never did it circulate so freely The bank clearings the test taken the world over as the best and final index of a citys > business tell an eloquent elo-quent story for Salt Lakes commercial advance in 1899 Here are the figures compared with those of 1898 in itself a great year 1893 1599 January 135973 111610r0 February 569S59 691931 March 669329 7826846 April 644Wl 7iil3370 May 0133su 9Si1m June 6SS421 9391060 July 689113 9733334 August 71919S 9614285 September 693336 16OJS507 October 7871699 129i1473 November 950SSS3 124J418 December IOS269S3 12500000 Totals SSlUS19 102351 Gain In 1580 837908507 Percentage gin 41 per cent The clearings given for December estimated as to the last two days of the month The total will be found very nearly correct Beat Other Cities A full page mlghtbe written on the business conditions of Salt Lake City and Yet nothing could be said so eloquent elo-quent or striking as these figures on the bank clearings During the year Salt Lake judged by her bank clearings clear-ings passed every city of equal size in the Union and took her position in MaDf aItles sOI11e of which have threetlmes th paou etlnt Never not even in the halcyon days of the h6om did the clearing here compare with these of the year just closed hey indicate in-dicate a volume ot business and an activity in trade that must be gratify into every citizen of the state Millions on Deposit Another proof that Salt Lake is fast becoming a financial center of importance import-ance 15 the fact that there is now on deposit in the local banks 17000000 compared with 12000000 a year ago Here is a gain of 5000000 or 42 percent per-cent in one year To the 17000000 on deposit may be added fully 1000000 in the safety deposit vaults and tOOOOOO I the capitalization ot the banks and a total of 22000000 is obtained as the medium of exchange at hand for the transaction of the business of the city Another evidence of the prosperity I of the people is found In the bank loans They are now 9800000 against 8200000 a year ago Here is an increase in-crease of but 1600000 compared with an increase in deposits of 5000000 It is wen known too that during the year many loans held on real estate by eastern loan companlis were paid off in part or wholly that in many cases local money was got to accomplish accom-plish this and that this fact swells the item of loans at the local banks Salt Lake has a financial record that Is a matter for just pride to all her I people While in all parts of the country I coun-try banks long established were going down in the panic of 9345 and G the j banks of Salt Lake stood firm as the rock of Gibraltar The reputation won I then by nome financiers for conservatism f conserva-tism and careful business methods has grown stronger with each year that I has passed since until now Salt Lake is considered the natural financial center I cen-ter and clearing house for all this vast I intermountain region Salt Lakes Banks j The banks In the clearing house association as-sociation of Salt Lake arc the Bank of Commerce the Commercial National I I Nation-al the Deseret National fcConlick Co the National Bank of the Repub I IIc the State Bank of Utah the Utah I Commercial Savings the Utah Xa I tlonal Walker Bros and Wells Fargo j I Co In addition to these there are r doing a general banking business the I Deseret Savings T R Jonq < Co B H Shettler the Utah Title Insurance Trust company and the Zions Say Ings Bank Trust company This makes fifteen banking institutions In all furnishing unexcelled banking faculties fa-culties By their last reports made early in December these banks are all shown to be in good condition and doIng good business ready to make a still better record in the year to come than the enviable en-viable one made in the year just closed In midsummer the Salt Lake clear ing house altered its rules to provide I for the closing of the banks at 12 oclock every Saturday in the year This rule is now In full force and Is greatly appreciated by the 200 employees em-ployees Low Commercial Stocks Another most encouraging lades to alt who dish well to the city 1s the growing tendency of men or means to Invest in good dividend paying local stocks This tendency was never so strongly manifested as during the year just closed Many men who have won fortunes from Utahs mines and herds in addition to buying good homes and business blocks in Salt Lake have purchased pur-chased large blocks Clf stock in Salt Lake institutions as investments there by demonstrating their faIth in the citys future This demand taken together to-gether with the prosperity of the institutions i in-stitutions themselves has caused a radical advance In the price of the stockS The advance was general along I the whole line It from ranged 10 percent per-cent on some up to 30 per cent on I others The average advance In all the I reliable local stocks may be placed at fully 20 per cent for the year just closed I Nor is this all The strong demand for these stocks and bonds has resulted re-sulted in bringing many of them back from the east so that it is safe to say that there are more Salt Lake stocks now held by Salt Lake people and by more different people than ever before in the citys history The proof that the advance in these stocks is substantial sub-stantial is found In the fact that the prices did not decline a point during the recent Wall street flurry but that the stocks were in as strong demand then as before |
