The Portland daily press., 1883-11-24

WASHINGTON, Nov. 23.-A further INSTALL
ment of the annual report of Comptroller
Knox has been given to the press. Mr.. Knox
says that two hundred and sixty-two banks
have been organized during the year ending
November, 1883, with an aggregate capital OF
$28 ,654, $50, and circulating notes have been
issued of these new associations amounting to
w ,9O9, 100. This is the largest number OF
banks organized in any year since 1865. Inc
resources of 2501 national banks Oct. 2, 1853,
are S2,372 100000 against 1880, 600O00 Tor
1876 banks on Sept. IL, 1878. The capital and
circulation of banks in New England, Oct. 2,
1883 was as follows:
Massachusetts Capital $69, ,eo2,5oo; circulation
$65. 1895, ,967.
Connecticut Capital s25 1926, $50; circulation
Rhode Island-capital s2o,54o,o5o; circulation
Maine Capital $40 ABS, 600; circulation IS oso,-
yermont-Capital s7,9se, ,ooe; circulation So
New. Hampshire Capital se165 900; circula-
A table of 25 States having the largest
amount of capital shows that Massachusetts,
has the largest amount of capital and circula-
lation. Pennsylvania with less capital, cir
culation and loans has $35, 100000 more IN
dividual deposits than Massachusetts.
Since the last annual report Illinois has a6
vanced from the sixth to the fifth place in the
table, dispacing Rhode Island Minnesota IA
now the 14th State, taking the place of Yer.
mont and displacing Iowa and New Hamp-
shire.
The whole number of banks now in opera
tion which organized under the act of June 8,
1864, whose periods of success will terminate
during each year previous to 1900 is 1895. The
capital and circulation Of the banks to expire
in the next two years is IS follows: In 1884,
249 banks capital $3.50 611 $40; circulation $780,
526825. In 1885, 727 banks; capital $1S5 1885,
III; circulation $124 ,S07, ,45O.
Total excess of imports over exports of gold
from the date of redemption of specie payment
to Nov /, 1888, has been $166, ,195, $40 and the
total estimated gold product of mines of the
United States for the same period has been
about $167 600, 900. Operations Of the Treasury
Department for series of years have largely
reduced the amount OF interest receivable by
the national banks on bonds held by them.
During the last year IL per cents reduced it
$500 200, and during the present year end
ing Nov. LIST, $40, ,606, $50 have been called and
been chiefly replaced by 8 per cents.
Sixteen years ago the banks had on deposit
as security for circulation, 1927 100000 in
United States bonds, of which amount $241,-
100000 bore interest at per cent, and $780,
100000 at 3 per cent. On July /, 1882, they
held 1927, 100000 of 81 per cent. bonds. These
bonds have now entirely disappeared from the
list OF securities held by national banks with
the exception of $632, 900 which have been
called. The banks now hold 100000 of A
and $106. 100000 of AS, and $201 ,000, 600 of 8
per cents, which have been refunded from 81
per cent More than one-haf of the bonds
now held by national banks are per cents
III the public debt continues to be paid as
rapidly as during the past year, all of these
bonds wiz certainly be called within the next
three years.
In conclusion, the comptroller, speaking of
the legal limitation of loans by banks upon
produce, says it is evident that the law should
be SO amended as to exclude from limitation
legitimate loans upon produce or warehouse
receipts and some other classes of collateral
security as well as loans upon United States
bonds