Audubon County Republican. [volume] (Audubon, Audubon Co., Iowa) 1885-1894, 1886-12-02
THE CURRENCY.
Report OF the Comptroller on tho Com
dition ofNationaI Hanks.

WASHINGTON, NoY. 25.--The annual report
Of the comptroller of the currency contains
suggestions for the amendment Of the nation
al bank laws In abont dozen instances, in
GLIDING the contingent liability OF share-hold.
ers, requirements as to reserve, the limit OF the
loans OF individuals, more thorough examina-
ton OF banks, and their protect on aga INST IN
equal state taxation. Three thousand five
hundred aud eighty national banks have been
organized In all, Of which 2,S5S are now in o T.
Grafton. or b csc ia have been organ zcd
du ing the year. Capital, SCI, zoo, 600; bonds,
g. 700, 900; circulation, $4,000 900. Twenty
four banks went into voluntary liquidation
during the year. One ceased to exist by ex-
piration of charter, and eight failed. The
failed banks have an aggregate capital Of
$3.50 900; surplus and undivided profits, $40,
0)0; liabilities, $4,000. The creditors OF two
of these banks have been paid In full, princi-
pal and interest. In two cases dividends have
reached 90 per cent In one case 75 per cent,
and one 20 per cent The total dividends paid
during the year by all insolvent banks exceed
8, G0),000, AMI the banks have been finally
wound up and their accounts closed, leav ng
twenty-five insolvent banks still In the hands
of receivers. Since the beginning Of the sys-
TEN, In 1853, only 112 national banks have
failed. or these, thlrty-eght have paid their
creditors In full, and twenty have paid interest
besides ID In full and 8 In part. An interest
ing comparison Is made between national
banks previously exlstin as State institutions
and those organized under the national bank
law, and In each case only 8 per cent OF the
number organized became insolvent. Among
corporations holding national bank stock, the
greatest amount is held by savings banks aud
trust companies and insurance companies,
More than half the entire number hold ten
shares or less. About one-thIrd hold over ten
shares but less than fifty, while those holding
more than 80 shares number but little more
than one-ninth Of the whole body.
The effect Of the reduction of the public
debt and high premium on bonds upon the
volume of national bank circulation is very
fully illustrated. The contraction in national
bank circulation exceeds $751; Besides the
usual tables showing the con litiou of national
banks at various dates the report this year
contains an abstract, which specifies each item
Of their resources and liabilities. The banks
In several States, reserve cities and TerrItor-
les have their condition stated separately. A
large diagram exhibiting the man features OF
the national banking system in the variations
during the past q years accompanies the re
port. From these It appears that the aggre-
gate deposits in the banks have increased
from s522,00O,0oO in January, 1885, to
81, ia, 600 in October, 1885, while loans
and discounts have risen from $500, 600 0)0 al
the former date to SLAB 0OO,00O at the latter
date.
The specie held by national banks in 1866
was sl9,0oo,C00 In October, 1876, It was only
$4,000, 900, while 10 JUL 1885, It was SLIT 900,
100, and now is 81, use, 100000.