The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-12-02

Washington City. Dec. 1.-The report OF
hon James II. Eckels, comptroller Of the
currency, 10 he submitted TO congress to-
morrow, gives Information in detail in re-
gard 10 the organization. supervision and
Aauidatlon or the national banks for the
year ended October 81. ls95. and similar in
formation. as far as obtGinable. relative
20 banks. banking companies. and savings
institutions organized and doing business
under the laws Of the several states and
territories. In addition TO the foregoing,
the report shows briefly the various sys-
TENS or banking in operation in foreign
countries. and in the states and territories
comprising the Union. as affording infor-
nation as 20 the different methods employ
ed 70 faciitate commercial exchanges and
sustain a bank note circulation.
Ine total number of national banks or
ganized since the date the first certificate
OF authority was issued. June % 1861. 10 the
ciose or the report year has been 5.0Z3
making yearly average of l5s OF the
number organized there we're in active
operation on October 81 last 3.7l5. with an
authorized capital stock Of 1864, I3egl5. The
totai amount Of their circulation outstand-
Ing was s2l2.sS7.s .s30 of which amount Sla0. =
IS',S5l was secured by United States bonds.
and ". '06. $50 10y lawful money deposited
with the treasurer Of the United stafes
'urlng the report year 43 banks were or
gained being less than 30 per cent Of the
yearly average, with an aggregate cspital
stock Of 3. 4.S90o 60. OF these new banks %
WIN a capital stock OF 81, ,530. 600 are in
the northern and northwestern section Of
tue country, and l5 with a capital stock ag-
gregatng S2.3e0.000 In the South and
Southwest. There was a net Increase dur
ing the year OF 80, .597 in the amount of
circulation secured by bonds, and a gross
increase OF s6.322.540 in the total circula-
ton
on September 2S. 1895. the date Of the
last report OF the condition Of the am
banks then reporting. their total resources
We're s.. 6ls. 3i3 SO. of which 5000 40s. -
40-.Z3 represented their l6an~and discounts
ana sSsS.5I1. .5S061 money of all kinds i'm
oank. OF their liabilities, 81 70i. .e59 5e1. u
represented individual deposits. 1886. SIS. =
""oS surplus and net undivided profits
and slS2,is1 .6l050 outstanding c!rculatio,
secured by bonds. OF the 2.715 banks in ac
i've operation. 2.901, with capital stock
OF SaSb,'@9.52. are in the northern and
nor heastern half OF the country. and SI4
with a capital stock of Sf26 SIS. $50. i'm the
South and Southwest. There are 2.3l1 ma
uonai banks located east OF the Nississ
lppi river with a capital stock OF Ss27. 60
49, ana l.loi west Of the Mississippi, with
capital stock of sI35, Sol 800 The cornor-
y
teen states with capital stock of $40 $50
90 and total circulation OF g. 296. .o75 has
been extended during the year The num-
Der or banks leaving The system, by rea-
son OF the expiration Of their carnorate
existence, was 1. having a capital stoc.S
OF S"V"'"" and circulation of $1o3.7o0 or
these, two were located IA New York and
one each in Maine and PennsvIvarta
During the year ending October 81. 1896
the corporate existence Of 2S hanks. with a
capital stock ggregating So i5a 500 and 4
circulation OF $l.3l0400. viii expire In The
succeeding ten years from 1895 10 1905 me
corporate existence Of $50 banks. with a
capNaI stock Of $i29eat9o5 and circula-
lion az S34,0ll, ,SS7, will expire. The Num-
Der or banks leaving the system during the
year through voluntary liquidation was Il
having a capital stock Of S6O93. 100 and oir-
cuation Of Sl15a 0o0
Receivers for thirty-six hanks have bean
appointed during he year. The aggra(. H.
captal stock of these banks was g. 235 Gon
and their circulation slonS 402. OF these
banks TWO, with o capital OF $50 con yvera
reported last year as being I'm voluntary
hq1idauon. and nine with 4 canitai stock
OF S1.'3a@0. were OF the number OF hanks
which closed their doors i'm lS93 and s,,h
sequenly resumed business. hut tbrourh
continued business depression and the
slow character Of their assets vvsrs ~,
thus compelled 10 so into insolvency In
reference 10 receiverships. the comntroller
SAYS:
In the majority or instances no hanl,
closes its doors while IL is nossassea -
quickly convertible paper. and tberefors
there comes into the possession of ,bA
comptroller only that which is slow
doubtful. bad or absolutely worthless -
t0ns follows that with but little or no
cash received, hut debts which are slow
Of payment and much involved I'm or Nc
cessttatine litigation. the closing Of trusts
Is prolonged and The expense attendant
thereon Increased. The records ~ the
office. however. show that such expense
as compared with any other class or re-
ceiverships, is greatly less and the results
attained far more substantial"
Daring the year l9l dividends we're naia
amounting to S,3So55e The foiIoNfnr
amendments 70 the law are recorurnan.gaa,
First-That the comptroller with fha
approval of the secretary of the treasury.
he empowered in all proper cases to re-
move officers and directors Or national
aEemeut. first according them a bearing
on charges preferred.
Second That thr loans 81 auv bank ~
its executive officers ana empl0vas ba rs-
strictea and made only upon approval ~
the board of directors a separate written
record thereof being kept
Tairt-Thst the assistant cashier in trs
absence 81 the cashier. be authorized p,
sfEn the circulating notes OF the hank ana
reports or condition.
Fourta-Thst some class ~ public off
GERS he enpowrre5 20 administer the rar-
eral oaths required by the national hark
acc
FiTh-Thaf bank examines t- r.aft.re4
20 take an oath of offi-s ana execute a
bond befora entering upon the discharge
os fheir duties.
sixth -Thaf upon q day In ea-h wear -
he designated hy the CouptroIfer. tne d.
rectors Of national hanks shan be required
- make al examination Of the AFFAIRS 90
the hanks and submit 10 t7e comptroller
a report thereon upon rlauks 10 he fur
nfshe8 for suca purpose
Seventh-T1at the comptroller be au-
thar!aza 20 issue 90 rational associations
circulating notes 20 the uar vaIee ~ me
bonds deposited hy thera wien the r~ess-
u~er of the United States 10 secure sg~b
notes
E.ghtb-That the sens-an0lal TAX lsz4eg
t!onaI hanks - reduced - as % equal bur
one-fourth q / per cent Per a1nuu
WITH tbe exception 81 the stxfa amend
r,e7t suggested. the comptroller saws all
thesa ~ecou ouaraaudatlons havo heretofore
hen made "a congress The sixtn amend
rner,t - made adV5sao be t7at the G .rs-.-ovs
- ssra national hanks may he co-n--ilsf
o., know from an examination require. al
,rofr hands ~ fhe contitiau ot t1e banks
~ whose 1osuaEeTant thfE TarJtesuate.