Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1889-11-26
JUST FILL THE BILL.
The Comptroller Of the Currency Reports
on National Banks.


on National Banks.
WASHINGTON. Nov. 25.-The Forthcoming
report of Hon. Mr.. Lacey, the comptrollel
Of the currency, covers the year ended Oc-
tober 81, 1889, at which time there We're il
existence 1919 national banks, the larges,
number in operation since the inangura.
ton of the system. These associations
possess an aggregate capital of 1920, ia, 2S5
The last reports of condition exhibit theil
resources and liabilities on the Both day OF
September, 1889. The number reporting al
that time was 1920. \ summary of these
reports shows capital of s6l2, 5S4 ,095; sur
plus Sl97 49,, 761; undivided profits SS4. S66,
1863; gross deposits including amounts due
banks, 81. $50, 935, 16I; loans and discounts
Sl.6O5, 129, s'39, all of which items show an
increase over any previous date.
The amount of circulation outstanding
was 1903 662, 732, of which $131, 1888 1874 was
secured by United States bonds and the
remainder, S'-,219, 1896, was represented by
deposit of lawful money in the treasury.
States bonds (of which SAG, All 200 were to
secure circulating notes., Sl64, 326, 449 of
specie and Se6, 1872, 1913 of legal tender notes.
Within the year 2l1 banks were organ
lied, having an aggregate capital of $2l,-
10000 These banks deposited with the
treasurer to secure circulation s., 31S, $50 in
United States bonds, upon which were is
sued s., ,975 in circulating notes. Thir-
ty-slx OF the new banks were organized in
Texas, the largest number in any one state;
Pennsylvania now has the largest number
OF associations in operation; MasSachu-
sets leads in point of capital stock and
New York in respect to deposits and vol
ume of business.
Tae large number of new banks entering
the system and their wide distribution is
an evidence, the comptroller SAYS that the
system is adapted to the varied conditions
existing within the extreme limits of the
national domain. Within the wear fort ~
one banks went into voluntary liquidation
and only two failed, leaving the net addi-
tions to The Svsfe II los. as against ninety
last year. One hundred and TWENTY-FIVE
Is the annual average annual increase since
the inauguration of the system Notwith-
standing this increase, says the comp
troller, the system has not kept pace
with the needs of the people for in
creased banking facilities. This growing
tendency TO incorporate under the statutes
of the several states is charged directly to
the fact, says the comptroller, that no
profits result to the banks by rerson of the
deposit of bonds and issue of circulating
loss results in many western states and
territories where the interest is the high
est and banking facilities most needed. 1t
is deemed certain by the comptroller that
withdrawal of bonds held III excess of the
minimum required will continue so long
as the present conditions exist and it is as
serted that legislation is needed TO prevent
contraction of the volume of national
bank currency.
In the opinion of the comptroller the
laws governing national banks should be
amended as to produced the following
notifications: F'irst-The minimum de-
post OF bonds to secure circulation should
be fixed at 10 per cent of capital in respect
to associations having a capital of $500, 900
or less and for ali banks having greater
capital, minimum deposit of $4,000 in
bonds should be required
Second-CIrculatlon should be issued to
the par value of the bonds deposited.
Ihlrd-Semi-annual duty on calculations
should be so regulated as to equal one
fourth OF per cent per annum.
1t is held that these changes IN the law
would do little more than TO save the
national banks from loss on account of
ejaculation il the present premium on
l nlted States bonds Is maintained
In submitting his recommendation the
comptroller states he has been largely in
huenced by the increased accessions To the
system from western and southern states
and the evidence daily accommodating that
1t is not only adapted to the wants of
vast area now inauequately supplied with
banking facilities but that its adoption
has become more fully appreciated, it be-
ing of the greatest Importance to those re-
gions that the abundant capital of the
older states be utilized, and through no
other agency can this be so effectually &C
complished.
GENERAL CLkRkSON'S REPORT.
WASHINGTON, Nov. 25.-The annual re-
port OF First Assistant Postmaster General
j. 5. Clarkson shows that 2,110 fourth
class post offices were established during
the last fiscal year, as against 1854 ostab-
lished during the previous year; / ,l47 post
offices were discontinued during the same
time. making the total number OF post
offices in operation on July /, 1850, IS, 500, /
of which number 2,6S3 We're presidential
offices. The increase in the whole num-
Der of post offices in operation
at the end OF the fiscal
The whole number of appointments of
postmssteTs for the year Is shown to have
been 70 $50, of which s, S54 were on resigna-
tions and commissions expired, 1888 on re-
553 on death of postmasters. 2.T0
on establishment of postofiices- BY the
annual adjustment OF the salaries of post
which took effect July /. 1889. 46
offices Of the third-class were reduced TO
fourth-class, and Is, offices OF the fourth
class were raised TO the third-class. leav-
ing Z, Go presidential offices in operation on
July l, 1889. The number of money-order
offices IN operation at the close of the |
fiscal year was $3.50. an increase of Az /
for the year. The number of money order /
stations in operation July /, 1889 was IA, |
an increase OF "A over the previous year.
The number OF postal note offices in opera |
tion at the end of the year wss 5S7.
The report shows that on June 30. lSS6 1
there Were 4ol free delivery post offices in /
an increase of IS FOR the wear. In 1
about 45 other offices the free delivery i
service has been established since June 81 1
1889. The number of carriers in the service
on July l, 1855. was S,25i, an increase of 4
l,g1I over the previous year This I
large increase, it is said, is mainly 4
due to the enactment of the law /