Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-12-04

Comptroller u ~ cssssaey EeAlss oakss Vie
Aassal &spest.

port Of James II. kSkles, coupRolef o
the currency. viii be submitted directly 4
Cengress tomorrow. II shoss that Sss'
national banks were IN operation q II,
close Of the report year, with capita
ssock of SAYS .5SS, 40 rspresensed,n by s.&so,
eco shares, and held BY 100000 saazeholi
er. Atthe last report the total resource.
OF ihe hanks then in operation were s.,
100 .5hS .ss4.ss. he total circulation. DC
toeer 81, WAS o9.Sll ,aaS. net incresss
iarirg the year o. sSe, ,ss6,si During
the Year 1 ~ banks we're organised, In =
states and territories, With capital stoch
Of Sil ,sSo, ,tso.
Within The same period i5S banks SUE
pended, with capital stock of $50. 500 zoo
OF ;ais number So, with capital stock oi
SIS, ,so5, ,ooo. resumed. and ss passed into
the nsnds Of receivers. with capital stock
Of Sl0. $50 oo0, At the close CT the yeai
seven remaiaed in charge Of the examiners
pending resumption. The aggregate re-
sources or liabilities. October 5, lS9s, thu
date of the last report Of the condition,
compared with Sept. 80, 1899, wAs $780,
sSl, els less. Upon the 9aestion of re-
sumption Of national banks during the year
tie comptroller says:
with full know iedse Of the general
soiyeney OF these inslisaiions and the cause
which brought about the suspension, the pol
iey Was insugursted Of giving all the banks
which under ordinary circumstance 9, would
not have closed, and whose management
has been honest, an opportunity 10 resume
business. and the result OF this policy has
justified its adoption. In no instance vas
has
rowed or for which ~ an association II be
come liable, Whenever those active in the
management of the banks rcsuming. either
AS executive officers or directors, have been
debtors. their Indebtedness was paid or st,
cared, and whenever an impairment OF the
capital stock existed, such impairment was
made good BY voluntary or enforced as
sessment on the Shareholders.
In regard to the Clearing House certih-
Gates, the comptroller says; Their issu-
sAce at so early date in the nnanciAi de-
rsngemeni Of the country was most oppor-
tune in not only preventing an acute panic
hu, tended TO restore public confidence,
and he especially compliments the Clearing
House Association OF NeS York xnd the
associated banks OF that city Ihese amend
ments 70 the ia~ are recommended
/. That every association may is'ne c,r-
culsung notes equal TO the par value OF the
bonds deposited.
2. That the sen.i-annual duty on oircn'
lstion be reduced to equal one'fon'th OF
per cent per annum
3. Thai the comptroller of tue currencf, 4,
with the approvai of the sScret'ry OF the
treasury, b. empowered TO remove ofieers
AID directors Of bank for violations OF The
law.
4. That no executive othcsr OF bank
or employee thereof be permitted TO borrow
funds of such bank Ia any msnar except
upon Application TO and approval by the
b ,srd Of directors.
B. Thht the assistant cashier IN the abil
ia of cashisr Of national bank to &C,
b. authorized AMI empowered TO sigu cifou
/ ting notes OF such bank.
o. Tint the Law DE amended and there
be sppr ipri,te legislation o emp)usr some
c.4ss oi public Oh ecrs to admit ter the
general oaihs required by the provisions of
the national bank act.
I. Tia, bank examiners he r,qu red 10
take oath of office and p,yt, bond
<. Ihat the comptroller of the currency,
vitb the approval of u4e secretsry OF the
I a.ury b empowered to appoint to gen
er examiner, whose duty shall be TO visit
assist and supervise the various examiners
il the sever Il districts. to scare uniform.
i,y in method AMI greater efiici, ncy ia the
work.
9. That the law he amended 90 AZ to
proyile III 4 the comp. n.ation of all bank
ax.mjn,r re- be fixed by the comptroller OF the
currency. ei,h The approval of the secretary
of tletr.asnry.
Upon the subject of currency legislation
is the following: The comptroller ia of
the opiniop that, aside from the amend