St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-01
The Treasury Department
Furnishes Info alton on
Nat onal Banks.
Minnesota Has Fifty-Seven Of
These, With a Capital OF
$14,966, 800.
Their Earnings for the Year
Amount to Over a Million
Dollars.
The Total Number Of Shares
141,700, Mostly Held by
Mimi esotanS.

SPECIAL to the Globe.
WASHINGTON, Feb. 2S.-The officers
of the treasury department have pre-
pared some interesting information rel
alive to the annual operations of ma
tional banks, from which your corre-
spondent has complied the following
statement, III which the Minnesota
banks are alone concerned: While
four new national banks were organized
in the state during the last year, the net
increase was but one, as three banks
went out of business, There are fifty
seven national banks i'll Minnesota,
with a combined capital of Sl4.366,320,
or 800, 900 in excess of the like invest
ments Of a year ago. As an evidence OF
their prosperity. it can be said that
they have a total surplus fund OF
S2,64l,9 800. which was Increased
over 100000 in twelve months.
Besides. they hold as undivided profits
S1.S54,335. In common with other sec
tions,and from like causes, the outstand-
ing circulation of the Minnesota banks
has suffered Slight reduction, the
amount of which is now 81 ,4S6, $50. They
hold as individual deposits $25, 769,2l9,
which have been substantially increased
during the year. The total resources OF
these banks reach the large sum of $685.
O92,O76. OF course with this amount of
money available it is but natural to find
that their
LOANS AND DISCOUNTS
mount away I'D in the millions, the ex-
act amount being $37, 55,00S. Their
real estate is valued at $2,2S5, 773. The
officials have made this year much
more complete classification of the loans
and discounts of national banks than
has been customary IN the past, and in
consequence it is possible to secure
better insight into the management of
the funds committed to their keeping.
The statement for the Minnesota banks
Is as follows: They have out on paper,
Single name, unsecured, Sl4.346, S64.S9;
OH paper with one ar more lndorseFs,
otherwise unsecured. Sl5,599 1896; on
demand, with United States bonds,
STOCKS, or cOllaterals as security,
81 $40, 440.65; on time, with SIM
lar coliaterals as security, $685.
6SO.S4. While the Minnesota banks are
required TO keep lawful money re-
serve of S4, 234, 064, they actually hold as
such reserve the much larger sum OF
81, 46l. 1863. Since the origination OF the
national banking system eighty banks
have been organized in the state, but
tWenty-three have ceased OdO business
One of the two failures of national
banks during the year occurred in Min
nesOta. 1t was that of the First National
of Anoka Some facts relative thereto
may be of interest. The nominal assets
at the date of failure we're: Estimated
good, $50, 776; estimated doubtful. S44,-
69S; estimated worthless, $l7,225; addi-
tional assets received since date of Sus-
pension, S., 1873; total assets, Sl49, OBJ.
Offsets allowed and settled, $2,042.
Nominal value of remaining assets,
500, 10l. Collected from assets, S42, $50.
Loans paid and other disbursements,
Sl5,06l: dividends paid, $2l.04l; legal
expenses, SlS5; receivers salary and ex-
penses, S1.SS9. Amount OF claims
proved, $40, 1856. And now comes the
question of the
MONEY-MAKING CAPACITY
of the banks, for such institutions, like
other business enterprises, are carried
on for profit. 1t can be said in this
connection that the Minnesota banks re-
turn a fair average income on the
money invested, as can be seen from the
following statement. The gross earn
ings for the year amounted to S3,00S,
1915. From this, however, there must
be deducted for losses and premiums
$45. $50. 4S, and for expenses and taxes
81, 229, 69S.54. This leaves the net earn
ings 81 1927. 175.43. They paid in divi-
dendS 1868. 800. The net earnings were
7.91 per cent on the capital and surplus
fund, while the dividends were 5.74 per
cent OH both capital and surplus and 6.S2
per cent on the capital alone. Lastly,
as to the ownership of the banks. In this
connection it can be said that the stock
is largely held by the home people, and,
in addition, is pretty well distributed
there being no less than 3,057 share
holders. The total number of shares of
stock issued by the Mil nesOta national
banks, reduced to par value of 500 each,
is 141, 700. Of this number %, 229 shares
are owned by residents of the state and
46,471rshares are held by non-reSidents.
The number of shares held by natural
persons is 1856, 532; by religious, chart
table and educational institutions, 4l6;
by savings banks. loan and trust and IN
6urance companies, 1857; all other cor
pOratiOns, l65. There are 1896 natural
persons who are shareholders and fifty
eight corporations own stock, of which
1865 are residents and 1,0S9 are nom
residents. The number of shareholders
owning specific amounts of stock is as
follows: Owning shares to the par
value of 81 600 and less, 1893; over 81, 900
and less than 5000, l,2l4; over $1,000
and less than $4,000, TAP: over $4,000,
90.