University of South Carolina Libraries
BANK DEPOSITS ON INCREASE Growth .of Wealth in South Carolina Reflected in Board Statement ? Record breaking- deposits have been reported by the banks of South Car olina to the Federal Reserve Bank o? Richmond, the amount of money in current, or circulating, accounts and in savings deposits being far in excess cf aynthing ever before experienced in the history of banking in tho. State. Comparative figures just compiled show, for instance.- that from Jan uary 1. 1917 toVJ?nuary 1, 1919. the total volume of deposits in the South Carolina banks increased more th?n $50,000,000 o rab.out 59.67 per cent, notwithstanding that the people of the Palmetto State invested more than $83,350,000 in Liberty Bonds of the. .first four issues and gave tremen dous sums outright to' the Red Cross, the United War Work Campaign and to .other forms of war relief. . One of the features of the reports filed by the banks is the remarkable increase shown in savings deposits. This is not by any means confined to South Carolina but is true of the banks throughout the Fifth i Federal Reserve: District and. indeed, all over the United States. In South Carolina j the amount of money to the credit of savings accounts increased more I than $26,690,000 within the pe-j riod given above, or 73.60 "per cent. ? There are 426 .banks in the Palmetto Stated The figures here given a^e based upon the official reports filed by 302. In the Fifth Federal Reserve District 1,563 Of the 2.047,. banks re porting, total deposits show an in crease of . $438,950,000 or 43.33 per c?nt. and in the same period the sav ings deposits increased 32.87 per cent or $127,631,000. While many factors, bankers agree, contributed to.* this condition.\ there are two principal reasons, it is de clared, for the general phenomena? increase in deposits. One of course, is . the increased wage which workers received during the war period, this putting an immense volume of money into circulation. The.other?and this ' is considered far more important?is that the people of America began to learn for the first time that they could save regularly and system atically.. The millions of do?ar. worth of bonds bought were paid for from current earnings; that is. those who bought the bonds did not with draw their money generally ^fron; savings accounts to pay for them, and when the bonds were paid for the' people by force of their newlyt ac quired economic habit continued to save, piling up millions of dollars in , the batiks. When the Fifth loan? the Victory Lean?was offered and subscribed the volume of savings suf-j fered but litthe, if any. this issue also being paid for out of the current earnings of the public which had thoroughly schooled itself in this method of financing the government. Including the Victory Loan, South Carolina -subscribed $106.830.000 to help the United States win the war. this being exclusive of the large sums invested in War Savings Stamps. South Carolina's Liberty Bond holdings amount to $67.90 perenpila, which ranks well with the holdings of the other* States. Detail figures showing the amount of money saved by the people in South Carolina, within the period ncmed above, are as follows: Charleston. (14 cf the 18 hanks reporting) Increase of total deposits $4,088, 000 or 20.33 percent. Increase of savings deposits $1. 736.000 or 14.08 percent. Increase of demand deposits. $3. 233.000 or 51.47 percent. Columbia. (8 of the 11 banks reporting). Increase of total deposits, $8.586.- j 0Q0 or 73.95 per cent. 5 Increase of savings deposits $:'..208. 00 or 74.77 per cent. Increase of demand deposits $6.829, 000 or-145.48 per cent. Greenville. (13 of "the 23 banks reporting.) Increase of total deposits $2.523,000 01* 73.15 per cent. Increase of savings deposits $56S. 090 or 37.93 per cent. Increase of demand deposits $1.622. 000 or 99.64 per c^nt. ^ - Sparianbnr^. {19 of the 27 banks reporting). Increase of total deposits $2.959. 000 or 64.84 per cent. Increase of savings deposits $641. 000 or 38.26 per ce'nt. Increase of demand deposits $1. 743.000 or 91.06 per cent. Stuntcr. ? (7 of The 10 banks reporting) Increase of total deposits $2.213. 00f; or 9S.93 per cent. Increase of sayings deposits $803. 000 or 70.06 per cent. Increase of demand deposits $1,370. 000 or 113.22 per cent. Anderson. (16 of the j'j banks reporting). % Increase of iotal deposits $2.141. 000 or 52.72 per cent. Increase oC savings deposits $423. 000 or 4.".68 per cent.' Increase of demand deposits $1. 532,000 or 56.86 per cent. In (be percentage of total deposits Lee- made the highest South Carolina record?181\67 per cent. Colleton holds the record for the highest per cent of increased savings ?xsr..09. Figures showing briefly th*i> growth ?of deposit? in the hanks of the other parts of the Fifth Federal Reserve District fo?Iow: Maryland. V (242 of the 27S banks reporting.) Increase of total deposits. $97.1 '?'>. 000 or 26.21 per cent. Increase of savings deposits, 059.000 or 20.*9 per cent. District of Columbia. 42 of the 45 banks reporting.) Increase of total deposits, $5'.'.(>41. 000 or 5?K79 per cent. Increase of savings deposits $11. 324,00ft or 17.4-6 per cent. Virginia. (.281 of the ?76 banks reporting! Increase of toraf ..deposits, $1-1-7. -'1.00? or 5.4.6-S per cent. Increase of savings deposits $32, [701,000 or iZAWper cent. W est Virginia. (227 of the 2S? banks reporting) I Increase of total deposits $42,833, j 000 or 36.19 per cent, j Increas; Of*-savings deposits' $9,149, 000 or 18Co6 per cent North Carolina. (369 of the 537 banks reporting). Increase of total deposits $72,048, 000 or 57.15 per cent. Increase of savings deposits. $11. 703.000 or 32.S5 per cent. That the habit of saving is rapidly increasing is al<ro sho'v.-n by the recent report of John t Skeltoa Williams, Comptroller of the Currency.1 who shows that on the last day of June of this year the national banks of the United States had deposits which ex 1 Deeded , those of June 30. 19IS by nearly $2,000,000,000. MEXICAN BAN DITS CAPTURED _ \ Mer. Who Robbed American Sailors Held at Tampico Washington. Sept. S.?The State department is informed from Mexico I City that the Mexicans who held up ! and robbed American sailors from the j Cheyenne have beert caught and! are being held at Tampico. Berlin, Sept. 5.?The German re- j ply to the allies' note, protesting against Austrian ^representatives Nin j the German reichstag, stated that ? Germany could not oppose the Aus- ? trian-German desire for union with j Germany. ' NMMaOHKBMSBnsS THE HEMPHILL LEVY DUEL (Abbeville Press & Banner) In this day and time when the prevailing fashion is to "shoot him on the spot," the following challenge and rules for governing a duel will : be of interest. The papers were I found among the effects of the late [General Robert R. liemphill: and the late John ib'inphilj who sends the {challenge was his uncle. John Hemphill was horn in Ches ter county, the * ?on of Rev. John ; Hemphill, D .D.. for thirty years pas ter of Hopewell Church. He prac ! ticed law for a while in Sumter. j where he took an active part in the ; discussion of the then burning ques j lion of "nullification" and it is prob ! able that this duel \was the result 'of heated arguments then in progress. In later years John Hemphill moved K> Austin. Texas, where he became an eminent lawyer, serving for some years as Chief Justice of the State, and as a member of the Confederate States congress. He died in Rich mond and his body was carried back to the home of his adoption and bu rled at Austin. Tlie Challenge. Camden, Aug. 29,'1833. M. }L Levy. Sir: As you are the avowed au thor of the article over the. signature of "A Jew," in the Camden Journal of the 24th,' instant, of you I demand satisfaction. Mr. J. D. Cooke is au thorized on my part, to make the necessary arrangements for our meeting. Yours, etc. John Hemphill. Artfclcs or Combat: Articles = <n which the. combat is to be conduct? '! between John Hemp Esq., and Capt. M. M. I^evy: : Article !. Distance twelve yards. -. Weapons, smooth?be re pistols. ::. The parlies ,may hold their pistols with the muzzles directly up or directly down, with the variation of an i?i h either way. !. V" rrring to take place be tween he words ttrv and the count 01 six b ginning at one. / 5. T:> party winning" the word, his sscond. shall before the pistols are put into the hands of the com batants, pronounce audibly the words as they are to be given in t?re com- ? bat, and shall not afterwards vary! from thein. 6. Tli ? first word shall be ! "ready (V)" ;<nd after the pause of about :i second, th;- word "'fire*' ehail ? be given, and then the words None. ? two. three, four. five, six, Halt- -&1- j lowing about a second between each ; count. At the word '"Halt" the fir-i ing shall cease. 7. If, when the word is given.' "ready" either party shall say No?! a suspension shall place until : in- is prepared to receive the wora , aga-in. j S. The choice of positions and the word to be determined bv lot. 9. Besides the combatants and ? one second each, and the surgeons.! cither party may have four friends j on (ho ground. And the*'honor of i each> party is pledged that the time) and place of combat shall be kept, secret from all but those specially in vited or conc.oruvd in the combat. 10. Any gentleman invited under the above arrangement is to be so j invited under the pledge of his hon-; ? that he will keep secret the tirne and place of th<% combat. 11. The combat to take place this evening (Friday, ::0th August, 1833) ?t half past 5 o'clock. 12. The friends making the ar rangements for the combat shall meet half past 3 o'clock p. rn., at Car ter's Upper Mill to select a spot and ?ay :;ft; the ground. The second winning the word : !';;!! enquire cf the opposing second if he is ready, and upon receiving an affirmative answer, shall call th?* parties to their stations by the words ?'i '?Mit!vm"!!, fake your stations." l When the stations are assum ed by the parties each second shall hand his friend a pistol ready for use. 1",. The second of each shall be armed with a pistol to shoot down, at discretion, either of the parties vio lating any of the rules. IG. There shall he no conversa tion between the principals- on the ground?nor between the seconds of one party with the principals of the other?nor between the seconds in the presence or hearing ot* either principal. 17. A snap or Hash shall be con sidered a fire. 18. The parties shall be required to stand erect, and not to change this p??ition until the combat has ceased. 1 la. The pistols shall be loaded by the friends who shall be appointed for that purpose in the presence of each other. Accepted by us. as tie friends of rhe parlies. James D. ooke. Chapman Levy. Adjustment. Capt. Mi M. Levy and John Hemp hill, Esq., having met and exchanged a shot and Mr. Hemphill having re ceived a wound, and the combat thereby ceasing, in consequence of his inability to further prosecute it. Cant. Levy now withdraws all of fensive expressions in relation to Mr. Remphill "as contained in his re ply to Mr. Hemphill's observations in the Sumter Gazette, and Mr. Hemp-' hill therefore withdraw:; the offensive expressions which . gave rise to Capt. Levy's attack on him, (Ml Hemphill),. ? C. Levy. J. D. Cooke. We consider the above adjustment of the affair between Capt. Levy and J. Hemphill. Esq., honorable to- both parties. * 1 James Blair,, J. W. Can toy. I do not know what this duel was about, but the cold-blooded dignity with which two men arranged to kill each otner has a fascinating sound to me. . The last du-cl fought in South Carolina was between two Camden men, Col. E. B. C. Cash and the Hon. j William Shannon, who lost his life I in the combat. Col. Cash was ihter \ viewed shortly after by Major J. C . Hemphill. then a young' reporter on ; the News and Courier. Mary Hemphill Greene. ! Denver. Sep:. 5.?Honorary mera | bership in the Western Union Em i ployees** Association was denied PoSt | master Genejal ?urles?n in the con j vention today on the grounds that he I denied employees "benefit of retro ; active pay." Your motor can prove the value of Polarine Motor Oils more convincingly than all the laboratory tests in the world. Draw all the old oil out o? the crank case, fill with kerosene, spin the engine for twenty seconds, draw all the kero sene off? refill with Polarine?then take your car out and notice the added power and increased mileage. ? ONE UNIFORM QUALITY THREE CONSISTENCIES Polarine Oil I Polarine Oil Heavy Polarine Oil Extra Heavy Also, Polarine Transmission Oils and Greases for the lubrication of Motor Cars; Motor Trucks; Kerosene and Gasoline Tractors; Farm ?and Stationary Gas Engines; Motor cycles; Motor Boats, etc. For Sale by all Reliable Garages, Accessory* and Hardware Stores. For maximum, power and most miles per gallon, buy Standard Motor Gasoline?at reliable garages and dealers everywhere. Look for the sign?the sign of a reliable dealer. MOTOR CARS STANDARD OIL COMPANY (NEW JERSEY) Garages and Dealers Selling Polarine Oils: BlaekTilfc-. S. C. NTeril On rage Mutual Tradlns Co. Simmuns- Brown Bros Blackstoc-k. s. C. VV. S. Douglas Blanoy. S. C. Bonne.!!!. S. C. .Mrs. Effie Feagin Bowman. S. C M. M. Brown T. B. Ott .1. C. Evans BratichvHIc Branch villo Branch vifv Brraisoii. S. i M?i?rerth Bros s. C. Auto Supoly C?'> Supplv ("?(> Brunsen FTdw. Co. Buek Bort. s. ('. P. V. Richardson Camdfji. .v. <?, JL E. Board Lewis & Christmas James Stokes .r. c. Rose ( 'I'.i'l-U'.. S. C. Cberaw M<?: ??? ?;;'<?: T. E. Vrannamekcr (hosier, s. c. ILirdir* Motor Co. s. L. Bol>inson r. Wright C. C. Young ( In :<i >i<>. <;. Lucas An to Co. Co. Sens Square Deal Drug Co. Chopper. S. C. W. H. Broxby Bros. Cope. S. C. K, I?. H-r.ry E. E. Ritter Comvay. K. C. Burroughs & Collins A. T. Collins Horary F-tdw. Co. < ?00. s. C. W. II. Bundy Covington & Co. L. Xorris Peoples Pharmacy Snipes Bros^ E. Sfernberg X- Co. Darlinston. S. C. C. W. FCewith & Son Trpiipl.li> Ore. Co. .1. A. Walker T. C. Jeff erics <*ojr?-.Tsha!1 ETdwe. Co. Billon. S. C Palmetto Hdwe. Co. Monroe-M iller ]',-,. Doo P:isb St-u-e Billon HdweJ C<>. Monroe Auto Sales Co. Denmark, s. C. The Mayfield Co. D. P. Fork Broke, s C. W. B. Drake Ditnhar. S. C. Dunbar Merc Co.