Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1856-06-19
Ole 4ttgfelo Guquirtr.
litchfeld Conn, Thursday, June 18Th, 1855
Bank Commissioners, Reporz,.

Lttchheld, C0nn- Thursday, June 18th, 1856
$3.50 - :. - =. :. -.
Bank Commissioners Report
The annual report Of the Bank Commissioners
makes volume of about two hundred pages, more
than half of which is occupied with the statements of
Savings Banks and Savings Banks and Building As
sociations. 49, sats. = I'D =
The number of chartered banksin the State Is sew
enty, with capital of nearly nnao millions dollars.
The commissioners say that the great majority of
them are in hsghly prosperous condition, with
pie resources, making satisfactory dividends accum-
ulating yearly a handsome surplus, and are at the
present moment abundanty able to afford their vari-
Gus communities and customers, all the facilities
which healthy business state Of our various ccn-
mcrcial, manufacturing aad mechanical interests
require. .-,.5
The Commissioners report the usual complaint,
that while large loans are made out Of the State
some OF our own citizens are not accommodated. -
They call attention to the fact that some of the Di-
rectors have larger amount Of loans than what the
law authorizes under mistaken idea that the Act
Of 1912 has been repealed.
The banks Of the State are now above suspicion
and among the most reliable in the land and as at
tempts have been made by parties cut Of the State
to the control of some Of them for Legitimate
purposes, the commissioners recommend that in all
future charters for banks provision should be in
serted requiring majority of the stock to be owned
by citizens of the community asking for such charter
There now in operation in this State fifty Saw
ings Banks and Building Associations organized I'M
der the law of 1850. Fortythrec of these institu-
tons have made reports, showing capital actually
paid in of 81, 537 1872 an increase of S661 27O dur
ing the past year Total amount of deposits 81 $50
3J5, being slight decrease during the year. -Four
Of the institutions which have made no reports have
very large deposits, which would swell the amount
to over two million of dollars. Total amount of
loans first Of April last, SO, 49, s21, more than
two-thir!s Of which is on real estate. The number
of shareholders is 1900 shareholders indebted for
loans, 1889; number of depositors, 9,OC1
The commissioners evidently no friends of an
other class of institutions, which they say cannot Law
tho slightest claim to the title of building Associa-
TONS for they have but very little loaned upon real
estate, and very little to their own Shareholders
They receive deposits at per cent and loan their
money at the best rates they can get which in some
o'tA'SSs H.Ls luClH 10 uCclirc dividends
high as forty fifty per cent AS these institutions,
in the opinion of the commissioners are not within
the limits Of the law, it is recommended that they
should bc1rohbited from transacting further bust
ness allowing them due time to wind up their affairs
to prevent loss to themselves or those indebted to
them.
The Savings Banks pronounced in safe and
condition Mnsto IF
ing their annual dividend of six per cent have been
able to accumulate u surplus fund Some of the
banks have invested too large amount in bonds
and stock and some have not loaned rs much on
real estate security IS the law requires which is sup
posed to be rather from inattcnton than desire to
evade the law. The stocks and bonds held are how
ever, of the most reliable character. The whole
amount of deposites in these institutions is
sli 1913 loans on real estate s6Ol4, 226 on per-
sonal security, So, 429, 2l2 invested in bonds and
stocks S2,44O,0G2.
The tables accompanying the Report this year show
that the banking capital of the State has been in
creased in year. 81 800 000 that 1t now amounts
30 $ls $50 $780, that the circulation has risen from
SO 1873, 1888, to so 1877 1859 approximating somewhat
to the extended circulation of over $4,000, 90 in
1853 and Oh The specie in bank has risen to 81 COG
Cos, and bears better proportion to the circulation
than II has for time. The loans and discounts
are ST 20l 100 which is increase of So 200 600
last year. and greater than any other year except
1854 when they were about $500 900 more. The
deposits reach 81 SCI 23 which is larger than in any
previously reported year. and the loans to persons out
OF the State reach IS, 45l l02, which only falls So
500 short Of 1854.