The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-11-17
BUSINESS OF BANKS
Interesting Report Made By the
Comptroller Of Currency.
LOANS AND DEPOSITS
LOANS
INDICATE MAGNITUDE o
BANKING RESOURCES.
Rate of Growth, In Number of De-
posit Accounts Is Unparalleled
In the Financial History of the
Neutrality-suspicious. Covers the
Years 1889, 1894 and 1899.

Washington, Nov. 16.-Charles G..
Dawes, comptroller of the currency. has
just made public the results of the in
vestigation which he has made into
the number of loans and deposit ac-
counts, rates OF interest and resources
of the combined banks of the United
States in the years 1889. 1894 and 1899
In collecting this data nearly 10000 re-
ports from banks have been examined
and compiled.
The investigation into number of
loans and deposit accounts and aver
age loans and deposits is the first ever
made. covering the United States,
either in reference to the national sys-
tenn or banks other than national. The
results of this investigation indicate a
magnitude of banking resources and
rate of growth in number of deposit
accounts which is unparalleled in the
financial history of the world.
The comptroller states that the re-
suits for the combined banks are care
fully estimated upon the basis of ratios
found to exist in the reporting banks,
and that they may be regarded as sub
stantially accurate. He is careful to call
attention TO the fact that the number
of deposit accounts and loans given in
his figures must not be confused with
the number of depositors and borrow
ers, since the same individual may have
loans and deposits in several banks.
each of which would make a separate
report to the comptroller.
Growth of Deposits.
While, therefore, the actual number
of borrowers and depositors is much
less than the number of loans and de-
post accounts, the growth in the latter
is evidence of the general growth in
the individual depositors and borrow
ers.
The general deductions from the in
vestigation covering the last ten years
are given by the comptroller as fol-
lows: First. that the number of indi-
vidual depositors in the banks of the
United States is constantly increasing,
as indicated by the regular increase in
the number of deposit accounts of the
combined banking systems. estimated
as follows: July II. 1889, 1908 banks, re-
porting 6,70S.971; July IS. 1894, 9,50S
banks, reporting $685. 66; June 80. 1899,
9,7S2 banks. reporting 11,432,636
The estimated grand total for the
year 1899, based upon banks reporting
and statistics as to non-reporting
banks obtained from tax returns to
the commissioner of internal revenue.
shows 1S.l53,S74 deposit accounts in
1884 banks.
Demand From Borrowers.
Second, that there is a demand from
borrowers for the use of the greater
proportion of deposits of banks. and
while the number of individual borrow
ers is increasing. the depositors greatly
outnumber the borrowers, and the in
crease in the number of borrowers is
much less than the increase in the
number of depositors. as indicated by
the rate of increase in the number of
loans, estimated as follows: July u.
1889, 1908 banks, reporting Kiss, 541;
July Is, 1894. 9,50S banks reporting, D.
$780, June 80, 1899. 1872 banks report
ing, 3,911 ,664.
The estimated grand total for the
year 1899, based upon banks reporting,
and statistics as to non-reporting
banks. obtained from tax returns to
the commissioner of internal revenue,
shows 5,067, 252 loans in 12,S04 banks.
Third, that the growth of the banking
systems is being characterized by a
gradually lessening rate of interest
charged on loans.
Fourth. that gradually lessening
rate is being paid.upon deposits.
Fifth. that considering the large
clientage of national and savings
banks. the average deposit of the indi-
vidual or corporation is slowly increas-
ing.
Average Size of Loans.
Sixth, that the average size of the
loans, all classes of banks considered,
has not varied much in the last dec
ade.
Seventh, that the growth in the ag-
gregate of individual deposits has been
as follows: july II. 1889, 1908 banks re-
porting s3.776. 410, 402; July Is. 1894. 9.50S
banks reporting s4.S51. 215. 3O2: July so.
1899, 1882 banks reporting IS, 76S, Sos, 1861.
The estimated grand total for the year
1899, based upon banks reporting and
statistics as TO non-reporting banks,
obtained by tax receipts to the commits
sioner of Internal revenue, is s7,513, S54,-
361 in 12,S0i banks.
Eighth, that the growth in aggregate
loans has been as follows: July IL, 1889,
1908 banks reporting S3,475, 272, 262: July
is. 1894, 9,5OS banks reporting s4,0S5, 069.-
Az; June 80. 1899, 1882 banks reporting
S., 167, S95, GIG.
The estimated grand total for the
year 1899. based upon banks reporting
and statistics as to non-reporting
banks, obtained from tax returns to the
commissioner of internal revenue, is
S., 751 Isl, $40 in 12,S04 banks.
Fortunate Bicycle Riders