The record-union., 1895-12-02

1853, to the close OF the heporIs
Five Thousand and Twenty-three.
While There Were In Operation On
October 31st of the Present Year
Thirty-seven Hundred and Fifteen.
WASHINGTON, Dec. 1.-The report
OF Hon. James H. Eckels, Comptroller
OF the Currency, submitted to Congress
gives information in detail in regard to
the organization, supervision and Hqui-
dation of the national banks for the
year ended October 81, 1895, and SINH
lar information as far as obtainable
relative TO banks, banking companies
and saving institutions organized and
doing business under the laws of the
several States and Territories.
In addition to the foregoing, the re.
port shows briefly the various systems
of banking in operation in foreign coun-
tries and in the States and Territories
comprising the Union, as affording in
formation as to the different methods
employed to facilitate commercial ex-
changes and sustain a bank note circu-
lation.
The total number of national banks
organized since the date the first GER
Jificate of authority was issued, June
20 1868 to the close of the report year.
has been 5,023, making a yearly aver
age of 152. OF the number organized
there were in operation on october 3lSt
last 3,7l5, with an authorized capital
stock of S664 1876, 80, represented by
Sh
capital stock of $17S,77 for each
bank; average number of shares to
each 2,136, and of shareholders a. The
total amount of their circulation out
standing was $213,SS $50, of which
amount $3.50, 1S0,96l was secured by
United States bonds, and S23, ,106, ,669
by lawful money deposited with the
Treasurer of the United States.
During the past year forty-three
banks We're organized, located in
twenty different States, with an aggre-
gate capital stock of 81 $50, 600. OF
these new banks twenty eight, with a
capital stock of S2.03U0O0, are in the
Northern and Northwestern section of
the country, and fifteen. with capital
stock aggregating S2,360,OUO, in the
South and Southwest. The number OF
banks organized during the year was
less than 30 per cent. of the yearly
average. There was net increase dur
ing the year of S10,II9 59T in the
amount of circulation secured by bonds,
and a gross increase of S6,33222, o4O in the
total circulation.
on September %. 1875. the date of
the last report of the condition of the
ZIP banks then reporting, their total
resources was s., ,423. 629, 343 63, of
which $2059, 40S, 402 - represented
their loans and discounts, and S3j6,-
5l1, $50 81 money of all kinds in bank;
CT their liabilities, 81, IO1 ,6o3,o2l Is
represented individual deposits, 1886.
SIS, 800 S6 surplus and net undivided
profits. and $1S2, 4S1 go % outstand-
ing circulation secured by bonds.
OF the Bib banks in active opera
tion. 2901. with capital stock of 9J3b,-
-. .S32. are in the northern and north
eastern half of the country, and Sl4,
with a capital stock of S126, ,S4S, 800, in
tn" South and Southwest. There are
261f national banks located east of the
Mississippi River with capital stock
of $J27 .612, 1872, and 1.1O4 west of the
Mississippi, with a capital stock of
$135, ,36l $50.
The corporate existence of seventy
one national banks in sixteen States,
with a capital stock of SO, 166 900, and
. total circulation of S3,226,2I has
been extended during the year.
The number of banks leaving the sys-
tenn by reason of the expiration OF their
corporate existence was four having a
capital stock Of 100000 and circula-
tion of $l23, 100 OF these. two were To-
Gated in New York, and one each in
Maine and Pennsylvania. new asso-
citation. with a capital stock of $4,000
and circulation Of S22,JOO, succeeded TO
one Of the two in New York.
During the year ending october 81,
1886. the corporate existence of twenty
eight banks, with a capital stock agSre-
eating -. ABB, 800 and circulation of 81
310.40O will expire. In the succeeding
ten wears. from 1886 10 1909, the corpO-
rate existence of SS9 banks, having a
capital stock Of S12J694,90O and cir
ctlation of $34.0l1 ,SSI, viii expire.
The number of banks leaving the sys-
TEN during the year through voluntary
liquidation was fifty having a
capital stock of S6,093. 100 and a circu-
lation of 81 152UG
Receivers Tor thirty-siX banks have
been appointed during the year. The
aggregate capital stock of these banks
was 50. 235. .020 and their circulation
81 uG:}. 4ti2. OF these banks two, with a
capital stock of $50, eco. were reported
last year as being in voluntary liquida-
ton and nine, with capital stock OF
S2150. 600 were of the number of banks
which closed their doors in 1S93, and
subsequently, resumed business, but
through continued business depression
and the slow character of their assets
were unable to meet their obligations,
and were thus compelled TO go into in
soIvency. Abstracts of the reports of
1888 and 1894 are given for the purpose
Of COMPARISON. those OF 1898 showing
the extreme conditions of the year Of
greatest financial depression and serious
banking loss.
Thedollowing amendments TO the law
are recommended.
First-That the Comptroller, with the
approval Of the Secretary of the Treas
ury be empowered in all proper cases
to remove officers and directors or Ma
tional banks for violations of law and
mismanagement, first according them
hearing on charges preferred
SecOnd-That the loans of any bank
TO its executive officers and employees be
restricted. and made only upon the ap-
prevail of the Board of Directors, sepa-
rate written record thereof being kept.
Third-That the Assistant Cashier, in
the absence of the Cashier. be author
ized TO sign the circulating notes of the
bank and reports Of condition.
Fourth-That some class of public Off
GERS be empowered TO administer the
general oaths required by the National
Bank Act
Fifth-That Bank Examiners be re-
quired TO take an cath of Office and exc
cute bond before entering upon the
discharge of their duties.
SiNth-That upon a day in each year.
to be designated by the Comptroller.
the directors of National banks shall be
required TO make an examination of
the affairs of the banks. and submit
TO the Comptroller report thereon upon
blanks TO be furnished for such purpose.
Seventh-That the Comptroller be
authorized to issue the National Bank
ing Associations circulating notes to