The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-12-05


lending power from the snlals poEl0Ns'9
Of Smail communities. ,..t ~ l,ia
n connection with this branch o. ms
renorf ne comptroller discusses q
ienFth the necessity Tor the estapl! y /,
mefit Of international and interco9iSolisi
branch banking. He Elbows tine Qlss.0-
vantnres as compared With toIelsn
trade under which American export
ana import now labOrs as teaulL u
Inferior banking facilities, and SHOWS
thnt theEe same DISADVANTAGES are 9
serious hlndrunce 20 the ndJugtment o.
our trade relations TO the aqvailtAseS
afforded by territorial expansion,
In this connection he discusses INC
Hawaiian and Porto Rican pahklns
and trade situations. HIS recommenoASs
lions in connection With thi9 pra''e4l "
MD reuort are made us follows:
The determination OF the relation OF
any new banking system TO the exist 1is.
ing banks and domestic credits OF fot-
10 Rico, differing as they do from ShOsS
81 this country, Involves many dirncult
questions: and legal provisions Tor tne
appolntment OF comnlisslon eEpecla!ly
CHARGED with the examination OF the
conditions OF domestlc banking ana
finances on the Islands, and with inc
recommendation Of the proper form OF
laws In connection herewith, 10 respeet"
fully urged upon Congress.
In view Of the conditions ana neeess!-
ties az our trade with our new terI i.,
tories OF Porto Rico and HawNall, anu
with other South American countries
rs well as with those territories over
which our country must exercise more
or less extended measure OF control the
comptroller earnestly recommends the
DassaEe of laws authorizing the lncor.
poratIon OF banks organized Tor the
nlrpoge OF carrying on International
and intorcolonial banking.
The comptroller states that up to ana
including October 81, 1885, there nave
have been organized 6l5l nauoneL
banks, % per cent Of which nave pee9
placed In voluntary llquldaton' ana
less than per cent In the charge OF re-
ceivers. AT the close OF the year mere
were In active operation SbSs associae
lions. with authorized capltah stock OF
| 1924, 552, 1876. The outstanding circulate
ing notes OF the banks on that date
amounted 10 $3.50, 54G,2Si, OF which S2l0.-
O4S .A56 were secured by bonds, ana the
remalnder--$9 800, S25--by lawful money
on deposit with the treasurer OF the
| United States for the account OF Hda'a-
atIng and In solvent banks and those
reducing circulation. The circulating
notes outstanding are S96S2Tu IN eX-
cess OF the amount On October 81 1897;
During the year there were organized
Sc banks. with total capital stock Oh
81, C65,0C0.
The comptroller is required by law to
publish in his annual report statistics
relative to banks chartered and operat-
ed under state authority. He states
that the returns from institutions OF
| thte rhnraCnr TO the number of 6,lA5
have been received, and, In addition,
statements from 76S private banks and
bankers. The aggregate resources OF
these institutions amount to 1851 ,S2S, :
357: lonns and discounts. $2,ASO,S74,S6O;
capital stock, 1870, O73.TSS; and deposits,
81. G64, 797, 296.
The total banking funds Of national
banks, as shown by reports on July IL,
1898, and other banks at date OF latest
returns, amount to S7,4i6. 255. 56S, an In
crease since 1897 OF $5s4, 02S,6sS