The Saint Paul globe., 1896-12-09
REPORT OF THE COMPTROLLER
OF THE CURRENCY SENT TO
CONGRESS.
TEN CHANGES SUGGESTED.
MOST IMPORTANT OF THE
AMENDMENTS.
MONOPOLY Is POssIBLE
Grave Dangers TO the Governme t
of a Banking Side Issue Clearly
Set Forth,

V<aoI114NGIO1N, Dec. S.-Ihe annual
report of Hon. James H. Eckels. comp
tfoller OF the currency, submitted to
congress today, contains information in
detaal in regard to the organization,
supervision, and liquidation of national
banks for the year ended Oct. 81.
1886. During the year twenty eight
banks were organized, with a capital
stock aggregating $3.245, 900. These
banks were located in fifteen states
and the District Of Columbia OF the
number, eight were in Pennsylvania.
two each in New York, Georgia. North
Carolina, Ohio and West Virginia. and
one each in Alabama, Illinois. Kansas.
Kentucky, Maine Missouri. Texas.
Virginia, Wisconsin and the District
of Columbia. The capital stock Of the
twelve located in the Eastern states
| aggregates $1,1S0,e00 of the six located
In the Western states, $875, 900. and the
ten In the Southern states, s1,19O, 900.
The state of Georgia is first in the
amount of capital stock represented by
the new banks organized. the aggre-
gate being $780, GOO; PENNSYLVANIA next.
with $520,000, and the District of Colum-
bla next with $500,OOO. The total num-
Der of national banks organized since
June 80, 1863, the date of the granting
Of the first certificate Of authority. Is
| 5,O51, making an average Of 153 for
each year. Of this number. 3.679 were
In active operation on Oct. 81. 1896
With an authorized capital stock ae-
a SaIeSatlng ag So6O, Ol4,8 $50, represented by
zoe,502 shareholders, or an ayera ge
capital stock of $176, ,682, of shares of
STOCK 1895, and of shareholders 78. The
totat amount of circulating notes out
standing on Oct. 81, 1885, was s234,-
ooS,S01. OF which amount $7091, POS was
secured by bonds still held for account
| OF lnSolVent and liQuidating banks and
SlS,747, 43O by lawful money deposited
Tor account of the same and by active
banks reducing circulation The net
increase in circulation secured by
bonds during the year was $26, ,329. .O53.
ana the gross increase in the total cir
culation was $21, ,099, ,429. The total re-
| sources Of the 1876 banks reporting on
oct =, 1896, the date of the last re-
port OF condition, were S., ,263 685. .313.S3
OF which $1,S93, 268. 839.31 represented
loans and discounts and $685., ,165, ,733. IS
| money of all kinds in bank.
Of their liabilities, S., ,597, ,s91, ,058. .73 rep-
resented individual deposits. 1886. .342.
oo4.O surplus and net undivided profits,
and $209,944,019.50 outstanding circulat-
ing notes secured by bonds
During the year the corporate ex-
lstence of rs banks was extended, the
| aggregate capital stock of which was
| $3,153,S00, and their total circulation
| $l,l75, 400. One bank left the system
] during the year by reason of the expi-
ration of it's corporate existence. This
| bank was located in North Carolina
1t had capital stock Of 100000 and
| circulation of 800, 000 but was succeed
ed by a new association, with capital
stock of $780, 900 and circulation
amounting to $22, 500.
During the year ending Oct 81, 1897,
the corporate existence of 10 banks will
expire, with capital stock aggregat-
| ing $2,2S9,000 and circulation amount
! ing to $685. Of these banks, are in
New York, each in Colorado, Michi-
gan and Ohio. and 1 each in New
! Hampshire, Pennsylvania and Texas.
! Between 1897 and 1906 the corporate
existence of 993 banks will expire with
a capital stock of $146, 461, $50, and cir
cu1ation amounting to $39,003,872.
The number of banks that went into
! voluntary liquidation during the year
was 81, with a capital stock of So, 745, 900
and circulation amounting to s1,262, 815.
Receivers were appointed during the
! year for 27 banks, the aggregate capt.
tai stock of which was So, s05, 900 and
their circulation 800. Of these, 4
| closed their doors in 1893 and subse-
! quently resumed business, but through
| continued business depression, and the
| slow character of their assets, were un-
able to meet their obligations and were
compelled to go into insolvency.
| A comparison of the data prescribed
| for past year with that for the year
| 1896, shows decrease of 36 in the num-
Der of active banks and of $4,3O5,O00 in
capital stock. The number of banks
| organized is Is less, and the number of
banks going into voluntary liquidation
| II less There has been a decrease OF
| 9 in the number of receivers appointed,
| and 45 in the number Of extensions OF
| corporate existence. TIL number OF ex-
! pirations of charters decreased 3, and
| the number of new banks organized to
| succeed expiring associations remains
unchanged.
| Abstracts are given of the reports OF
condition made in response to the five
| calls required by law. In this cOnnec-
ton the comptroller states:
BANKS AND BUSINESS.
| Complaint has been not infrequently
heard during the past years that those
engaged in banking have been unfair
] toward the business public in the mat
! ter of withholding credit. careful
study of the returns given, shows that
! such restriction has resulted from
necessity and not from choice. The
Unsettled currency conditions which
| have r-so q marked the course of
the country of late, have made deposi-
| tors more easily frightened into de-
| manding their deposits, and to meet
such calls on demand large amounts
| of idle money had to be always kept
| in bank. Ia such case it could not be
otherwise than that loans on the one
hand should be called in and new
| credit denied on the other.
| In the appendix of the report a table
| is presented showing the semi-annual
! dividends and the net earnings or
banks in excess of such dividends, by
states. reserve cities, and geographical
! divisions, for the current and prior
| wears and also a table showing the
| number of banks, capital surplus diyf-
dcnds, net earnings, and ratio or dlv1--
dends to capital for each year for
/ tWenty-seven years, and the average
| The average rate of dividend PAID Tor
the current year was So, the per cent
of dividends based on capital and sur
plus 5, and the per cent of net earnings
| on capital and surplus 5.4
The report also contains all the in
! formation that could be obtained re-
| lative to the resources, liabilities, and
| condition of banks, banking companies,
| and savings institutions other than
| territorial authority. This information
| is said to be substantially complete,
! except from the states of Delaware,
| Maryland, South Carolina, Georgia,
! Alabama, Louisiana, Texas, Arkansas,
/ Tennessee, Washington, Oregon, Utah,
Nevada, Idaho, and the Indian terri
tory and territory Of New Mexico.
| According to this data the number
| of banks organized under state au-
| thority and in operation at the close of
/ the. fiscal year, June 30, 1896, was 5, 70S,
I and the number from which the comp
/ troller received reports, 1856. Reports
were also received from S24 private
|