The star. (Reynoldsville, Pa.) 1892-1946, 1892-11-30
CHANGE IN BANKING LAWS.
rHr COMPTROLLER or THE CURRENCY MARES
soMF IMPORTANT RECOMMENDATIONS
ABOUT NATIONAL BANEs.

sOME INFORMANT RECOMMENDATIONS
ABOUT NATIONAL BANKs.
Mr.. A. B. Hepburn, Comptroller Of the
Currency, In his annual report, just sub.
mitted, makes the following recommenda-
tions:
First-That the minimum deposit OF Gov
eminent bonds required OF National banks
be si, 900 IN case OF banks of $50, 900 capital
and 1000 in case of banks whose capital
exceeds s50.O00.
Second-That banks be allowed TO issue
circulating notes ooual 10 the par value Of
the bonds held TO secure circulation.
Third-rhat the monthly withdrawal OF
bonds, pledged to secure circulation, shall
not exceed 81, 100000.
Fourth--That the tax on National banks
ready paid into the Treasury si2670,ii2 30
in taxes upon circulation. The banks should
only be assessed an amount sufficient to de-
fray the actual cost to the Government Of
providing circulation.
Fifth-That the limit Of the amount
which may be loaned 10 any person, com
pany, corporation, or firm to- 10 per cent of
the capital stock of the bank. be so amend
So that an exception be made In favor of
the temporary loans secured by collat al
IN our largest business centers.
Sixih-rhat the Government issue bonds
having ~. 30 and 10 years to run, at low
rate of interest with which 10 retire p esent
bonded debt of the Unite States, which
bonds may be used as u basis to secure
National bank circulation.
Seventh--The comptroller shows that by
changli & n , per cent bond having the
same length of time to run for the per
cent bonds, outstanding at the market val
ne of each, on October 81, 1892, the Govern
ment could have saved S61. ibl. 5ji .60T.
Eighth-That bank examiners be required
to take an oath of office before entering up
on the discharge of their duties, and give
bond in such amount and such sureiies rs
the COmptrol er of Currency may require.
Ninth-rhat the Comptroller of Currency
be allowed 10 appoint two general cxamin.
ers. of CONSPICUOUS ability and experience.
io be pad out OF the public funds, whose
duty IL shall be to visit assist aud supervise
the various examiners in their several dis.
tricts, III order TO secure uniformity m meth.
cd and greater efficiency In work
Tenth--That the law he so amended as 10
prohibit officers and employees of "a bank
from borrowing its funds in any manner,
except upon application to, ard approval
OF, the board of directors
Eleventh--In order to facilitate the col
ltCtlOn VI uSsessintllls upon stoCkHOlucrs Ol
failed National banks, that the receivers OF
such banks he requested to file with the
County Clerk or Register of each county, in
which any stock,!older may reside. state.
ment showing the names of the stockhold.
crs who reside in such county and the
amount of stock held 10y them respectively
The filing OF such statement to constitute
lien upon any realty OF said stockholders.
which lien may be vacated upon motion
and by giving proper bond, and so be dis.
charged bv the receiver upon payment oi
the ass, ssment.
! Nearly 10 per cent. Of the banks are 10
| Gated west of the Mississippi river, and 50
per cent. in the Southern States.
The number Of banks Oh September %,
| 1892. was 3.7ss, having an aggregate capital
| of t693 s6S G66; surplus and undivided pro.
| fits. $40 52i ii9; individual banks deposits
a, I65, 40 9s3 0T bank deposits, $3.50, ,653, 2O2
| and total resources, s3, $40. .09i, s97.
| The circulat OH outstanding shows net
| increase for the year of l0,4s7, 226. The
| gold held by banks as compared with Sep
tember %. 1891, show an increase of S2l.
g0i, ll5 surplus and profits, increase, s9.663.-
| 020; individual deposits, incr ase. sl77, l0i, =,
9o2, and bank deposits increases, SlO0, ,i5s,
|