The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-12-02

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Banks.
! WASHINGTON, Dec 1.-The report
of Comptroller of the Currency Eckles,
to be submitted to congress tomorrow,
gives information in detail in regard to
the organization, supervision and liqui-
dalton of the national banks for the
year ended October 81, 1895, and sim
liar information as far as obtainab BILE
relative to banks, banking companies
ana savings institutions organized and
DONG 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 bank note circu-
! lation.
National Banks
The total number of national banks
organized since the date the first GER
tificate 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 active operation on Oc-
tober 81 last 3,715, with an authorized
capital stock of 1864, 1861 The total
amount of their circulation outstand-
! ing was $213, SS7 $50, Of which amount
$50, 1S0, 961 was secured by United States
bonds, and $23, $3.50 by lawful money
deposited with the treasurer Of the
! United States.
During the present year 43 banks
xr-6r ,t.za1 Loco fLn, Lf,+xy
per cent. of the yearly average, with
an aggregate capital stock of $780,
900. OF these new banks %, with a cap
ital stock of 81, $4,000, are in the north
ern and northwestern section of the
country, and Is, with a capital stock
aggregating 81, 100000, in the south and
! southwest.
Increase in Circulation.
There was a net increase during the
year of $10,779,597 in the amount of
circulation secured by bonds, and a
gross increase of Sc, 322, $40 in the total
circulation.
On September %, 1895, the date of the
! last report of the condition of the 3,712
banks then reporting, their total re-
sources was So, 423, 629, 343.63, of which
So 059, 40S, 40227 represented their loans
and discounts, and 1855, 577, 5S0.61 money
of all kinds in bank.
Of their liabilities 81, 7O1, 653, 521.2S rep
resented individual deposits, $396,SSS,
35O.S6 surplus and net undivided profits,
and $1S2, 4S1, 610.50 outstanding circula-
ton secured by bonds.
Of the 3,715 banks in active operation,
2,901, with a capital stock Of $685., 49,
S32, are in the northern and northeast
ern half of the country, and 8l4, with
capital stock of 26,S4S, $50, in the south
and southwest. There are 2,611 nation
al banks located east of the Mississippi
river, with a capital stock Of $135,961,-
800.
The corporate existence of seventy
one national banks in sixteen states,
with a capital stock of $10,662,000, and
total circulation of $3,226,275 has been
| extended during the year.
Corporate Existence.
The number of banks leaving the
system by reason of the expiration of
their corporate existence was four, hav-
ing a capital stock of 100000, and
circulation of s123,7O0. Of these two
were located in New York and one
each in Maine and Pennsylvania.
During the year ending October 81,
1896, the corporate existence of twen-
ty-eight banks, with a capital aggre-
eating S3,453,S00 and circulation of
81, 80, 400, will expire. In the succeeding
ten years from 1896 to 1905 the corpo-
rate existence of $50 banks, having
capital stock of $129, 694, $50, and cir
culation of 34,011, 1887, will expire.
The number of banks leaving the
system during the year through Wolun-
tary liquidation was 81, having a capt.
tai stock of $685. 100, and circulation
of 81, $4,000.
Receivers for So banks have been APP
pointed during the year. The aggre-
gate capital stock of these banks was
IS, 2S5, O2O, and their circulation $1,000, 402.
OF these banks two, with capital
stock of $3.50, 900, were reported last year
as being in voluntary liquidation, and
nine. with a capital stock of 81, $50, 600,
were of the number of banks which
closed their doors in 1898, and subse-
ouently resumed business, but through
continued business depression and the
slow character of their assets, were I'm
able to meet their obligations, and were
thus compelled to go into insolvency.
In reference to receiverships the
comptroller says: In the majority of
instances no bank closes its doors
while it is possessed of quickly con-
vertible paper, and therefore there
come into the possession of the comp
troller only that which is slow, doubt
full. bad or absolutely worthless. Tt
thus follows that with little or no cash
received, but debts which are slow of
payment and much involved in or ne
cessitating litigation, the closing of
trusts is prolonged and the expense at
tendapt thereon increased. The rec
ords Of the Office, however, show that
such expense, as compared with any
other class of receiverships, is greatly
less and the result attained far more
substantial During the year 101 div
idends were paid, amounting to $780,
552
Amendments Recommended.
The following amendments to the law
are recommended:
.'First-Thar the comptroller with
the approval of the secretary of the
treasury, is empowered in an proper
cases to remove officers and directors
of national banks for violations of law
and mismana cement, first according
them hearing on charges preferred
'tSecond-That loans of any bank to