Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1883-11-24
FROM WASHINGTON.
OUR NATIONAL BANKS.
Annual Report Of the Comptroller d
Currency.

WASHINGTON, Nov. %
further installment of the annual report
of Couptroller Knox has been given to the
press Mr.. Knox says: Two hundred and
sixty three banks have been organized during
the year ended Nov. 1888, with an aggregate
capital of S2S .654, $50 Circulating notes
have been issued to these new associations
amounting to 81 ,909, 100 This Is the iarg-
est number of banks organized in any year
since 1865.
The resources Of 25Ol national banks Oct.
8. 1883, are 81 272.7 200. against 81 $50, 600,
900 for 1876 banks, Sept. IL. 1873.
The capital and circnlaticns OF banks IN
New England, Oct. 2, 1888, are a follows:
Massachusetts Capital, S99. Coz, 500; cr-
culalioh. S65, 399. 957.
Connecticut-Capi,al, s25 926, $50; circu-
lati0n. Sl1,ll0.99S.
Rhode Islsnd-Capital, $50, $40. $50; cir
cu'ation, sl4, Is7.20s
Msine-Capital, $40, $4,000; circulation.
SIS 0o0, 063
vermont-Capital, 81 $50, 900; circulation,
50 5l2,77
New Hampshire-Capital, So, f65, 900; cir
culation. S., 27S.237.
The table of % States having the largest
amount of capital shows Massachusetts has
the largest amount of capital and circulation
Pennsylvania with less capital, circulation
and loans has S35 100000 more individual
deposits than Massachusetts Since the last
annual report Illinois has advanced from the
9th to the 5tE place in the table, displaclng
Rhode Island Minnesota is now the l4th
State. taking the place of Vermont and dis
placing Iowa and New Hampshire. The
whole number of banks now in operation
which organized under the act of June 3rd,
1864, whose periods of succession will term
mate during each year previous to 1901, Is
1895. The capital and circulation OF banks
to expire in the next two years is as follows ::
In 1884, banks, 249; capital. SS9.6l1,51O;
circulation, $50, 526, S25 In 1885. banks,
727; capital. Sls5, 936, 7l9, circulation, Sl24.-
SO7, 45O Total excess of imports over ex-
ports of gold from date of resumption of specie
payment to Nov. lst. 1888. has been $780,
l95. $40, and the total estimate of gold pro-
duct of mines of the United States for the
same period has been about SlG7 800, 900.
The operations of the treasury department
for a series of years has largely reduced the
amount of interest receivable by national
banks on bonds held by them. During the
last year 81 per cents have been reduced
5000, 769, POO and during the year ending
Nov. lst, $40, 606,9 $50 has been called and
been chiefly replaced BY 3per cents. Sixteen
years ago the banks had on deposit as security
for circulation 1927 DOC, 900 in United States
bonds, of which amount $24l ZOO, 900 bore
interest at per cent. On July LIST, 1882,
they held 1927. 100000 of 81 per cent
bonds. These bonds have now entirely
disappeared from the list of securities
held BY the national banks, with the excep-
ton of 1852 200, which had been called. The
banks now hold SAL ,OO0, 900 4a's, 100000
900 As and S20l 900 900 3's, which have
been refunded from 81 per cents.
More than one half the bonds now held
by national banks are 3 per cents. If the
public debt continues to be paid as rapidly as
during the past year all these bonds will GER
tainly be called within three years.