The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-11-26
Two Thousand Eight Hundred and Fifty
Eight Banks Now in Operation, NineTenths
of Whose Shares Are Held in Small Sums.
Work of the Special Mail Delivery Sery.
ice in Indiana During the Year.
Receipts and Expenditures of the PostOffice De-
guEe 3O-0ther Washington News.
THE NATIONAL BANKS.
Figures Showing that Their Stock Is Very
Widely Distributed

Figures Showing that Their Stock Is Very
Widely Distributed.
Special to the indianapolis Journal
WASHINGTON, Nov 5.-The annual report of
the Comptroller of the Currency contains suc-
gestiops for the amendment of the national-b ank
laws in about dozen instances, including the
contingent liability of share holders, require
ments as to reserve, the limit on loans to indi-
vduas, more thorough examination of banks
and their protection against unequal State taxa
tion. Thirty-fve hundred and eighty national
banks have been organized in all, of which 2: 858
are now in operation; of these, ia have been or
ganized during the year; capital, S2l ,0C0, 600;
bonds, So, 700, 0C0; circulation, So 900 000 Twenty
four banks went into voluntary liquidation
during the year, one ceased to exist by eApira-
tion of charter and eight failed. The
failed banks have an aggregate capital of $685.
000 and surplus and undivided profits amount
ing to 1904 000 liabilities 81 1900 O00. The cred
itors of two Of these banks have been paid in
fnll, principal and interest. In two cases divi-
dends have reached 80 per cent--in one case, 70
per cent, and in one. 90 per cent The total
dividends paid during the year by all insolvent
banks exceed 81, Geo, 000 and the banks have been
finally wound up and their accounts closed, leav-
ing twenty-five insolvent banks still in the hands
of receivers
Since the beginning of the system, in 1868,
only l12 national banks have failed. OF these,
thirty eight have paid their credits in full. and
twenty have paid interest, besides-ffteen in
full, and five in part. An interesting compari.
SOD is made between national banks previously
existing as State institutions and those
originally organized under the national bank
law. In each case. only 2 per cent. of the num-
Der organized became insolvent Among the
corporations holding national bank stock the
greatest amount is held by savings banks, trust
companies and insurance companies More than
half the entire number of shareholders hold ten
shares or less: about one-thiri hold over ten
shares. but less than fifty, while those holding
more than ffty shares number but little more
than one-nintb of the whole body
The effect Of the reduction of the public debt
and the iigh premium on bonds upon the vol
ume of national bank circulation Is very fully
illustrated. The contraction in national bank
circulation during the year exceeds $50 900 900
Besides the usual table showing the condition of
national banks at various dates. the report this
year contains abstract which specifies each
item of their resources and liabilities. The
banks in the several States, reserve cities and
Territories have their condition stated separately
A large diagram exhibiting the main features
of the national banking system and their varia-
tions during the past twenty-one years accom-
panies the report From this it appears that the
aggregate deposits in the banks have increased
from 1922, 900, 900 in January, 1885, to $l,173,-
000,C in October 1885, while loans and dis
counts have risen from $500, 900, 600 at the for
mer date to 81, ,443, 100000 at the latter date
The specie held by the national banks in 1866
$19, ,0O0, 900; October 1875 it was only $S,.
600, 600, while in July, 1885, it was $i77, 900 Geo.
and is now $l56 000, ,O00