The advocate and Topeka tribune., 1892-08-03

l VNAUo 80 MA49 Oh puEoIA5eD e&Cn one 1OE nlm-
self, but not for any Of the others, is liable
under the law for twice the amount of the
capital stock which he owns, but nomore.
1t must not be supposed that the de-
posltor, If plundered of his hard earnings
placed for safe keeping, can fall back ON
any general law for the collection Of debt,
outside the provisions of the law under
which the national banking system was
created, and under which 1t is now sus-
tAlned.
Taking the whole system as a unit, the
total classed as individual deposits
amount to sl,74S,787, ,545lO. Double the
paid in capital stock, which is the total
liability under the law for "all contracts,
debts, and engagements" !" the amount is
$1,S64, ,464,316. The liability under the
law 10 the difference between the two
sums last named, that is, they owe as
whole to individual depositors- moth
ing of other contracts, debts, and en-
gsgements" -sS79, 1925, ,29O 10 more than
can be collected by law. Should
''paniC" sweep over this country, such as
has desolated business many times with
in the memory Of men now in active
business, who would profit by the defal-
cations TO depositors? Hundreds Of the
smaller national banks do not get depos-
its up to the amount Of their liability.
Such, under ordinary circumstances,
may be regarded responsible, or, in
other words, such are not protected and
encouraged by law In defalcatlons from
their depositorS and patrons.
Turning to recent sworn official re-
ports Of very few of the largest banks
in the great financial centers, we are able
to see at glance to what extent such In
stitutions may under protection of law
victimize their patrons, including the
country banks who keep funds on deposit
with them. The list might be increased
to scores, but the following table will
serve to illustrate:
Name Of bank. Liability 10 amount of de-
depOsttOrS postts on hand
for 1UtiOh theV
Continental National,
American National '''''''' ''''V O'OO''''O'''
Chicago ;.;..... 2,OOOOOO...... 1873, 2S3OS
lcas UnlGago 600, ,000..... 2,ll7,331 36 |
SU4nlcagO M@Gl DanK. l,OOO,UOO...." 6,34 S6476
Bank, Chicago. 1000 OOO 1885,, ,SlS 68 |
National Bank OF IlI-
nolS, Chicago 100000. 1928, $50
Chase National, New
:, York .;.a..;....;. 1,OOO,OOO...... l744S 10000
New York .;;... 100000, O,..... 2o,S47y 10000
Fourth Naiion ;'iis;i New 2OO0OOO' "'Ol'lOOO0
York. 6,4OO,OOO...... 2O,114 10000
Western Natl, New
York. ;......s;... 4,2OO,OOO...... 1852, 10000
First National, Phila-
FSrmers and Mech. 1OOOOO'''' 4O''OOOOO
" Hst Nssl PnladelPhla 100000 0.... S,655OO0.00
Notsn NsSl, boston. 2OOOOOO.... ,ls5,1OO.OO
National Bank Of Re
PUBLIC, BostOn...... 5000, O,000..... 4831, 10000
VIII somebody attempt to prove why
bankers should be shielded by law from
Meeting their promises and obligations,
while they habltually mouth over to each
'ther the fears, that everybody else Is or
nay be untruStWoFthyP Is not the very
mpudence which they assume towards
he public intended to cover their own
lefectsH
The following bank stocks were sold
N the exchange in New York last week:
8 shares Mercantile National Bank al. .23O
2 shares National Bank Of Commerce at. 1872
4 shares Continental National Bank at.....,l35
shares Corn Exchange Bank kat..........2 .255
shares Merchants National Bank at...... 153
Shares In the same class Of banks In
A 4 :