The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-10-29
CONDITION OF TIE STATE BANKS.
The Report Of the Examiner on Their Opera
tons During the Last Year.

Mr.. w. o. Foley, the State bank examiner,
filed with Auditor Rice yesterday his report for
the fiscal year ending with October 1t shows
that there are now twenty eight banks operating
under the Indiana State law. two having been
organized during the year-the Dubois county
bank at Jasper, with a capital stock of 500, 900,
and the Jackson county bank at Seymour, with
a capital stock of $40, 000 The State Bank at
Franklin has, within the last year, returned to
the national bank system. The Citizens Bank
of Monon has increased its capital
stock from $4,000 to $50, 600. and
the State Bank at Warsaw from
$50, 900 to 100000. In making this change the
surplus which had been accumulated was made
part Of the new capital, which amounted in
the Citizens Bank to So, 600, and in the State to
SAL 000 The increase of surplus in the different
banks is as follows: Bank of Westfeld 800;
Citizens, Attica, 5000: Citizens Hope, $341 GA;
Citizens Portland, $243 Is; Citizens, Mobiles
vile, $3.50; Citizens, New Castle $780, Cti
zens, Petersburg $500; Commercial Union
City 81, 500; Farmers Frankfort 50, 500 Farmers,
Middletown, $175Ol; Farmers, Mooresville, $3.50;
Farmers, Winchester, 81 100; Farmers, Attica,
81, O75.33 Farmers, Sullivan, $6500 Hunting
burg Bank 81, 1888 03; Lake City, Warsaw, $2S 81;
Peoples. Portland, 81. 900; Randolph County
Bank. Winchester, $1,000; Ridgevie Bank,
$780, and State Bank Warsaw, 81 0O0 The
examiner states that several of the banks not
credited with having placed anything in the sur
plus fund have already set aside, to that account
amounts far beyond the legal requirements
The twenty-six banks that were in operation
a. year ago show an aggregate gain
of assets amounting to $137, 77O41. The
reserve this year is 80 per cent of the deposits,
while last year it was 81 per cent. The aggre-
gate resources of the twenty eight banks are oil
vldea as follows: Loans and discounts So, $685..
64O.26 overdrafts, $50 461 II; bonds and securi-
ties, $40, 900; banking houses, $751; 8O8 &c. furni-
ture and fixtures, SAG, 329. 25 real estate, $751;
49, current expenses taxes and interest,
$29, 584. 49, cash. 1891 914 81; due from banks
and bankers, 1927, S79 II; total, 81 121, 3D. The
liabilities are: Capital stock paid In s.. 5l7, 100;
surplus, 1920 $50 90; undivided earnings, SILL
565.12; deposits, ST. $50 Ol9 81; due to banks and
bankers, $4,M4 So; bills payable, ST., 500; total,
81, l2l, $40
''The deposits in some of the banks" Mr..
Foley says, have had a very encouraging in
crease, while others have hardly held their own,
and in some there has been a very heavy falling
off. All regard the prospects for the future,
however, as favorable, for throughout the State
nearly all kinds of crops have been very heavy
They claim that they do not thrive on the mig
others prosper, and there is an abun-
dance in the land. The business
is done on a sound basis. The
unearned dividends are being paid, and perhaps,
with the exception of one case, there were hone
paid where they should not have been paid. No
serious losses have been sustained during the
year. All have been able to make some money,
and some have been very prosperous. The st.
Joseph Valley Bank of Elkhart paid dividend
of 29a per cent, and earned 80. Two or
three paid 15 and carried good round sum to
the surplus. The majority paid 10, and but one
paid s."
Il made particular inquicy," the examiner also
says ''as to whether any Of the banks held
township orders. l did not find to exceed SO, 900
worth in all, and in every case they were regu-
larly issued None of them have done any bust
ness with r. B. Pollard or any of his associates
One cashier received a letter from Andrews &
Co., of Chicago, Offering to sell him this class Of
paper, of which they said they received large
amounts in exchange for school furnituren