OCR Text |
Show utaiTbIksTbofit from libert! loans Statistics Show Increased Savings and Commercial Commer-cial Deposits. PROSPERITY IS AIDED Increase in Resources After Second Issue Was $4,000,000. Each of the two Liberty loan bond issues of 1917 were followed by increased in-creased savings aud commercial deposits depos-its in the banks of Utah and by . increased in-creased total resources of the banks themselves, as shown by the figures of the state bank coinmisioncr in his annual an-nual report which is now being completed. com-pleted. Instead of taking money away and decreasing bank deposits, the Liberty loan campaigns have had tho directly opposite effect of increasing bunk deposits, de-posits, the figures show, indicating that a most healthy stale of finances exists throughout tho state of Utah. In fact, the Liberty loan drives aid prosperity, it is declared, and they stimulate stim-ulate saving among tho peoplo that is strikingly evidenced by the iucrease iu savings deposits iu tho banks which have followed each of the Liberty loan drives in this state. Savings Increased. Savings deposits in the banks of the state jumped nearly $1,000,000 after the first Liberty loan call in .lime and after the second in Soptember they increased in-creased correspondingly. Commercial deposits increased at a 'healthy ratio also. The total sa vines' doposits in the banks of Utah at "the end of the first quarter of 1917 and just before the first Liberty loan call amounted to $ifl.011,38a.20, as shown by the quarterly quar-terly report of the state bank commissioner commis-sioner for that period. The report issued immediately after the first Liberty Lib-erty loan drive showed the total savings sav-ings deposits to be $29,955,894.73. The report issued immediately after tho second loan in September shows the total savings deposits to be $30,006,611.35. Resources Enlarged. Commercial deposits in the banks of the state before the first Liberty loan were $25,4.81,148.03 and after the first loan they were increased to $26,403,-474.82. $26,403,-474.82. Following the second Liberty loan the commercial deposits jumped to $30,247,050.25, or an increase of nearly $4,000,000 in the third quarter of the year. This is considered a remarkable re-markable increase in commercial deposits. de-posits. Total resources of the banks of the state prior to the first Liberty loan were $75,709,064.70 and following tbiB loan they jumped to $78,553,149.53. After the second loan they jumped to $S2,782.657.05. The increase in resources after the second Liberty loan was more than $4,000,000, and while the figures for the last quarter of 1917 have not been completed as yet, it is estimated that a still greater increase in resources will be shown by them when they are compiled. |