Historical Newspapers of South Carolina

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Total Savings in South lina Have Gained Twt Six Million Dollars Deposits in South Carolin; increased more than $39,000 the last fiscal year, being nc ssiderably in excess of $173,0 The growth of the saving dep the same period was more tha 000,000 making between 25,0 35,000 more individual savii counts in the banks of the.sta ever before. These figures, r "in Columbia yesterday, were i ed by the war loan organizal the Fifth federal reserve i from information furnished 1 banks, the state bank examin the controller of currency in ington. Total savings in South Ci banks are put at $87,000,1 round numbers, having increa the fiscal year, ending June 30 from $61,000,000. There are V in the banks of the state mon 155,000 separate savings ace At the beginning of the fiscal the number was about 130,00 the 322 financial institutions c state, which reported to xhe wai organization. In the Fifth federal reservi trict, comprising Maryland, the trict of Columbia, the two Virj and the two Carolinas, there a: 224 banks and trust companies I, 700 banks reporting showed their total deposits increased $1,337,000,000 to more than $1 000,000 increase of about 209, 000. Savings deposits, represe the thrift of the people grew $565,000,000 to $670,000,000. crease of $105,000,000, while :numb?r of savings accounts ad1 ed from 1,746,000 to 2,054,0( gain of 308,000. Putting the po; tion of the district as not excee II, 000,000 persons the figures I a per capita saving of about $61 every man, woman and child, an .average of two savings account every ll people. Wasteful Spending on Wane The steady growth in savings the increase in the number of sav accounts are considered wholes signs that the tidal wave of wast spending and attendant high pi which has swept across the coui soon may be definitely checked. 1 seem to indicate, students of fine and economics believe, a tende toward increased production, a g ing determination to cut down i less expenditures and an earnest : ization that money must be sa for future needs and for wise inv ment if new wealth is to be crea and if the business of the country to be returned to normal conditi and placed upon a sound basis. Figures furnished the war loan ganization by t?ie controller of currency and by James H. Crs state bank examiner, show the markable growth of the natio: banks and trust companies in Soi Carolina. The national banks in 1 state early in the year reported to .deposits exceeding $106,573;0( while their savings deposits exceed $44,$70,000. In the Fifth federal i serve district the total deposits,, round numbers, were g^iven as $94! 000,000 with savings deposits aggi gating $286,600,000. For the South Carolina state ban / ing institutions, those operating u <ler state charters, comparative fi aires are given for the last two fisc years. The total amount on depos in those institutions increased in th; period from $101,398,000 to $144 335,000, a gain of $42,900, 000. ] the same period the savings increa ed $24,164,000; that is, from $46 658,000 in 1919 to $70,723,000 i 1920. From the banX examiners and coi missioners in the . other states con prising the district, the figure for the state banks and trust cora panies, exclusive of those in Wash ington, D. C., are given as follows Total deposits, $813,203,000 fo 1919; $997,493,000 for 1920, or ai increase of $178,264,000. Saving deposits (West Virginia's 1919 tota being estimated), $374,658,000 fo; 1919 and $465,948,000 for 1920, o: a gain of more than $60,240,000. The report from Washington, D C., being furnished by the chambei of commerce, gives the totals by cal endar years. The figures show a gain in total deposits of more than $12, 767,000 and an increase in the de posits of those banks doing strictly a savings business of nearly $5,000, 000. Money - in Liberty Bonds. This money accumulated in South Carolina and in the rest of the dis trict is in addition to the millions of dollars invested in Liberty bonds and government savings securities. The people of South Carolina, for in stance, subscribed $106,831,100 to the five issues of war bonds, and Jarge sums have .been invested, and still are being invested in -war saving stamps and treasury savings certifi cates. The Fifth federal reserve dis trict, subscribed more than $1,000, 000,000 to the five bond issues, and the bonds were paid for, the recprds show, largely from the savings or current earnings of the purchasers. South Carolina leads the district in the total increase in savings in the fiscal year, its gain being $26, 000,000. Its increase in deposits of all character exceeded $39,000,000. The increase in the number of in dividual savings accounts for the five states of the district and for the District of Columbia are given as fol lows: Maryland, 120,000; Virginia, 75,000; West Virginia, 47,000; North Carolina, 14,000; South Carolina, 25,000; District of Columbia, 27, 000. Total increase for the Fifth federal reserve district, 308,000. * Emphasis is again placed by the war loan organization upon the fig ures showing the rapidly increasing army of savers since it is believed that as the savings habit becomes more and more general throughout the nation economic conditions, as reflected ia all lines of business and industry, will necessarily improve because of the very fact that more and more money is being saved is in dication that less is being wasted in extravagant living. Moreover, as leading bankers have repeatedly stated, the savings habit stimulates production and thus adds directly to national welfare and prosperity. The State. . Official Cotton Graders at Work. J Clemson College, Sept. 24.-Nine teen official cotton graders have been appointed and are being maintained during the present season by the Ex tension Service of Clemson College and the Bureau of Markets of the U. |S. Department of Agriculture in co operatiop with the South Carolina State Warehouse Commissioner. These official graders are at the ser vice of the farmers who have cotton to sell and of the buyers in order that disinterested information as to the grade and staple of cotton may be obtained. The graders now in the service are as follows: R. C. Lawrence, Ander son; H. J. McCullough, Aiken; L. W. Tutt, Abbeville; W. B. Wise, Ben nettsville; John R. Harmon, Black ville; R .Lee Williamson, Bishopville; J. Ahrens, Columbia; J. W. Maynard, Camden; R. C. Banks, Dillon; W. P. Gordon, Edgefield; j J. E. Moore, Greenville; J. B. Ferguson, Kershaw; Henry Rush, Laurens; Henry Mc Rae, Manning; J. W. Britt, Newber ry; E. C. Seifert, Orangeburg; A. B. Smith, Rock Hill; A. J. Smith, St. Matthews; T. B. Sims, Sumter. These official graders make week ly reports to the Extension Service showing the number of farmers served, the number of bales classed and the price at which cotton was sold on the various days of the week. Reports from seven of the -?graders on markets where cotton had begun to move during the week ending Sep tember 18, shows the following aver age prices on each market for the week. St. Matthews-Strict middling 30.04, middling 28.71, strict low mid dling 25.71. Bishopville-Strict middling 29. 50, middling 28.25. Manning-Strict middling 29.08, middling 28.25. Bennettsville -Middling 29.08, strict low middling 25.25. - Kershaw-Middling 30.75. Edgefield-Strict middling 31.05, middling 30.25. Camden-Strict middling 29.37, The three highest average mar kets for the week were: For strict middling, Edgefield, St. Matthews and Camden; for middling, Kershaw, Edgefield and Bennettsville., Reports from various other grad ers show that owing to the lateness !of the season this year cotton had not begun to move during the week of September 18. Keep Well and Be Happy. If you would be happy you must keep your bowels regular. One ortwo of Chamberlain's Tablets taken im mediately after supper will cause a gentle movement of the bowels on the followering morning. Try it. For loans an real estate. See . CLAUD T. BURNETT, Lawyer. Over store of W. W. Adams & Co. T-7-20 NOTICE. The next regular teacher's examin ation will be held Friday, Oct. 1. White applisants report at court house colored applicants Macedonia. Work begins at nine o'clock. W. W. Fuller. Co. Supt. Education. I THORNHILL WAGONS are superior in material and workmanship, light running and guaranteed the most durable wagons made. Have just received a shipment of t good old Southern standard 60-ir track wagons. BBTTIS CANTELO Contractors and Builders Persons contemplating building of any kind should see us or write us for estimates, etc. We make a specialty of paper hanging and painting We have a large force of skilled men and can do work promptly. PARDUE & STEIFEL TRENTON, S. C. ROUTE 3 We Want to Help This bank desires to be of personal assistance to you. We have assisted others. Will you give us the chance? We cannot aid you unless we know what you want. < Come in and let's talk it over. Ask our satis?ed customers and they will tell you that we have helped them. The thing that gives this bank the right to live, to grow, to prosper, is the service it renders the community. Don't hesitate. Come right in and tell us how we can aerve you. The Bank of Trenton, S. C. All checks drawn on The Bank of Trenton can be cleared free of ex change through the Federal Reserve Bank. We Can Give You Prompt Service on Mill Work and Interior Finish Large stock of Rough and Dressed Lumber on hand for Immediate Delivery. Woodward Lumber Co. QUALITY-SERVICE Corner Roberts and Dugas Sta., Augusta, Ga, i ?TT m-an-a EBffl -O IT S NOT WHAT OU MAKE UT WHAT OU SAVE THAT uy^*-* COUNTS Copyright 1909, by C. E. Zimmerman Co. -No. 6? UVERY dollar that you spend foolishly, every proprotionate amount of money that you earn that it would be possible to save and da lot, is only money that you have to work for again. 3n the other hand every dollar you put in the bank is money that is going to constantly work for you. Which is the best; money always working for you, or you always working for your money. Come in and start that bank account. Don't put it off another day. BANK OF EDGEFIELD OFFICERS: J. C., Sheppard, President; A. S. Tompkins, vice-President 2. J. Mims, Cashier; J. H. Allen. Assistant Cashier. /DIRECTORS : J. C. Sheppard, Thos. H. Rainaford, John Rainsford, M. C. 'arker, A. S. Tompkins. J. G. Holland. E. J. Mime. J. H. Allen Consult Your Own Interest by Consulting Us When Buying / Metal or Composition Roofing Mantels, Tile, Grates Trim Hardware Wall Board Etc. Youngblood Roofing and Mantel Company 635 Broad St. Telphone 1697 AUGUSTA, GEORGIA