New-York tribune., 1891-12-30
INCREASED SURPLUS FUNDS
A PROSPEROUS YEAR FOR BANKS.
uLL REPORT HEAVY BUSINESS FOR 1871
LARGE p,ENINGs GENERAL.

Increased
an execution the banks have added to ther surplus
furas ,nee 1900 In some this Increase has not
Necn lsrre lnt in others il has amounted TO "o'e '~
the semiannual dividend IL speaks well fof be GU"
seryatism of the management OF New-,orhS ->"'
and state banks that they constantly seek to strengthen
their surplus funds and thus to entIehch u''"'S''
more strongly for n possible time OF trouble "
M -, ore on now i'm an unusually favorabd
oo,A,tion in regard 10 the amount OF deposiis' MANY
nj them have never before had so much money oi o
books The Increase in respect TO ths ''n0o '"'
slas In most cases been striking Inc year HIS oee"
a good one for earnings too. as rates nave vi V.'
whole been fairly satisfactory since January ias''
OF course there is an abnormal volume OF oepos's Vi
,o,d ts, NOW owing 10 the concentration OF fnds 10
nav Japusry interest and dividends. Many hunureus
of thousands OF dollars will be ABSORBED py i"NeS' "
this city next month. and while some Oh IL WIN -
turped 10 the banks great deal Will De ih'cs'eo o"'
aide or be used to pay living expenses.
An example OF a bank that has cnjosed uncommon
n,neritv this wear the Importers and Traders Ma
t,o,a, of No o47 broadway. 1t has increased It's semi
spnual dividend from : TO 10 per cent this Seal-dn
,,dicaton of good business and successful management
that speak for itself. :,
The Fourth National Bank. No. IA Nassanst-' Is
another big downtown institution which Is on the noou'
,e y, ,ooress Jts business larger and better thah
ever before The deposits now amOuht 10 p'sser sum
than they have ever done before and the stock Is quo
q, ,na highest figure IL has reached The report
IN tho Controller Of the Currency made at the eore Vi
business on December . showed csp'al s'o ~ "
S32OOO0O a surplus of 81, ,43o,oOo ahd he. Pio''S "
ss3es 4i9 So There was due banks ana lnoNiuual u'
p,stors s26.3157O2 81. tn Fourth Nsuohai o"n' %
-, n. in which if does business valued at S6OoooO'
Inc os,cers are J. Edward Simmons, president, Cor-
,o,;, y Hliss and James c. Cannon, vice-presdentsi
q II Patterson cashier. and j. A. Hltner' assistant
cashier. 49,, ,o ,s
I'm, United states Nations, Bank, which has had
handsome Offices at No. Al WGilst since Je Splihs Va
1900 has enioyed a remarkable growth In lis net ue
posits since July l. In the SIX months they nave III
.r.oa.d from about S3.7OO.O00 to about S6''oV'oOO
IT. csaal stock is 100000 and its surplus the same
The rand progress in respect to the amount OF net ue
posts is most pleasing Indication oil the me sae VI
fle banks business Its officers are james H. ra'Ner'
president: william p. Thompson vice PRESIDENT Henry
C. Hopkins. cashier; John j. MeAuhfe assistah'
cashier: Joseph W. Hartman. second assistant eaher'
The Continental National Bank, at NO Nassau-sI'
has aIso q pleasing year 10 look back on report
made bv II short while ago showed gross deposits oi
s76s2 9l1 against SG.5G1 ,997 in 1890 Inc ospi'al
stock is 81 100000, the surplus fund S2oO'ooo' anu
+he undivided profits $4o,143 81 on December -
The officers are experienced fnancers and properly con
servatlye In their MANAGEMENT OF the lhsuluuoh
affairs They are Edmund ID. Randolph, president
John T. Agnew. vice president; Alfred H. llmpsoh'
cashier: Theodore +. Qunta.d and Alexander D. se!-
uiour, assistant cashiers.
Another chapter TO the narrative OllbcreAseu oePoS
ts given by the Ninth National Bank, at No 4O' Broad
way Since John X. Ciley was elected It's president
IN November It's deposits have grown S7Oo0oO The
imnrovement has been steady and continuous and bids
fair 10 continue. Mr.. Cilley well known In busl
ness and financial circles the head OF the hrin OF
Ciley Co.. importers Of anu dealers In furs. hides ana
wool at No 1O1 GOld-st. Mr. Cllley was gallant
Union soldier and has had honorable and successful
career In business {. H. = Alueh Is vice pTesloeht anu
H. H. NaZro cashier
The Seventh National Bank. at No 1S4 Broadway,
(which WAS established in 1898 the seventh Ward
Bank has also chosen a new president thls year
Gardiner sherman retired or that Office In June,
but remained o director Colonel John McAnerney,
who had been vice president up 10 that time succeeded
him. Colonel McAnerney vas formerly In the iron
business and won fine reputation as merchant
James Hall OF the firm Of Oper, Hewitt Il Co.. took
his place as vicepresIdent j. d. W. Grady is cashier
and George W. Adams assistant cashier. On Decem-
her the banks capital stock 100000 It's surplus
fund 5000 the undivided profits were S25,642 w.
and the gross deposits amC united 10 81 736,6ff TO-
The unusually big crops have affected the business
OF the Corn Exchange Bank, at William and Beaver
sis 10 a considerable extent and favOrably The
Institutions patrons chiefly in the grain business
and they used lot Of ey in handling the heavy
harvests, the bank had exceptionally prosperous
year. The business IL ct the largest since the
bank was organized in 1853. The statement OF Its
Capital stock 81 900 900 surplus and profits Sl2ll
o55 5s due depositors, 959697S Il. The president
Is william A. Nash the cashier Loftin Love.
The Lincoln National Bank is one OF the biggest
uptown financial corporations IL is at No "a East
Forty St, and It's Offices especially hand
some and cOmmodious. There are hne pctnreS Oh
the walls and the ladies' waiting rooms are richly fur
nished. Colonel Thomas H. James, ex-POstmas'ef
General has been president Of the bank since us or
sanization in 1882. The present year has been an
entirely atisfactOry 20 ii. The customers nave
generally done well, and their prosperity has rejected
Itself on the bank The capital stock is SoOooo' the
surplus about 5000, and the deposits are about
s5OOOOOO. Alfrel Van Santvoord is Nlce-pIeNdeht
and William T. Cornell cashier The Lincoln safe
Deposit Company which has its Offices under the same
roof and is virtually under the same management j.
putting up large wing in Forty -frSst, stp ""1e
necessary by increased business, and has boug' "o
or three adjoining lots which 1t VIII Duld DeIoe
long to enlarge its vaults and coupon rooms. MI
James and Mr. Van santvoord are president ana vice
D. dent Of it, and John Il. Van Wormer Is the secIe
tafy and general manager.
The PEOPLES Bank at Canal and Thompson sts., is
nm old Institution, which forms the artery OF large
bnsiness interests on the West Side Its patrons are
of diversified trades, but among them are big iron
firms and steamboat companies. It's securities consist
largely of high class Of frstmotgage bonds.
IA vas founded in 1851 and has declared Its eighty
first consecutive semannual dividend, which Is pay
able January and is Que of per cent 1t has added
10 its surplus this year aud its deposits are running
heavier than ever before being 100000 ahead OF last
wear now In ten years its deposits have been doubled
and its surplus fund nearly tiped The officers are
Scott Foster PRESIDENT John A. c. Gray, vice-presi
dent: William Milne cashier; George A. Zabnskie,
assistant cashier.
The Oriental Bank is at No. 122 Bowery and while
its chief business comes from firms In the neghbor
hood 1t has patrons In all parts OF Manhattan Island
b.H In has
a semi annual dividend. For many years per cent
dividend has been declared twice year In addition
TO the tax dividend. When It's last quarterly report
was made on December IL, its capital stock was
$500 900 and Its surplus fund the same: Inc gross
denosits were 50 2S9.SO6 SO. Clinton W. Sarkey is
the president and Nelson G. Ayres the cashier.