The story of Pittsburgh: Banking and finance

Banking and finance (Vol. 1, nr. 17)

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Multivolume work

Identifikator:: 1831622599

Document type:: Multivolume work

Title:: The story of Pittsburgh

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1919-1930

Collection:: Economics Books

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Volume

Identifikator:: 1831623951

URN:: urn:nbn:de:zbw-retromon-241167

Document type:: Volume

Title:: Banking and finance

Volume count:: Vol. 1, nr. 17

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1930

Scope:: [ca. 40] Seiten

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Multivolume work

Structure type:: Chapter

Title:: Statement of condition of national banks as of December 31, 1929

Collection:: Economics Books

Approximately $8505 is now on deposit in Savings Accounts of the Banks of Metropolitan Pittsburgh for each resident of the community, and it is estimated by the Pennsylvania Department of Internal Affairs that savings have increased in the district by 113%, since 1919. Pittsburgh retail stores sell each year an average of ap- proximately $431 for each resident of Allegheny County. New building construction in the Pittsburgh District is larger in volume than in the metropolitan area of almost any other city in the United States. $50,000,000 was spent for new buildings and repairs in Pittsburgh for 1928—representing approximately 6,000 jobs. Pittsburgh Bank Clearings show a gain of 399%, in the last seven years. Bank clearings figures are a true barometer of business activity. Pittsburgh income tax payers number 78 to each 1,000 residents, as against 72 for Detroit, 39 for Cleveland, 48 for Philadelphia, 62 for St. Louis, and 64 for Boston. This leadership indicates that prosperity is widely distributed among the families of the district. Pittsburgh is one of the country’s leading life insurance centers, indicating a fine sense of moral responsibility on the part of citizens, in addition to widespread individual pros- perity. It is undeniable that there is new civic consciousness throughout the district. Leaders in all lines of activity are displaying faith in team work to make secure Pittsburgh’s right to be considered as one of the world’s great cities.

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