The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-02
Highest Point Ever Reached, and an
Increase of S647 7,2OS,s95 Since
September 3, 1900.
PROFITS ALSO WERE LARGE
NET EARNINGS FOR THE YEAR
ENDED MARCH L, SS7,674,174.
New Banks Observation-Disclosures gislatiOn for
Extension of Charters RecOm-
mended-The Gold Standard.


port of William B. Ridgely. controller of
the currency, has been prepared for trans
mission to Congress. The report starts
with a detailed statement of the resources
and liabilities of the national banks. as
shown by the five reports of condition
made in response TO the call of the con-
troller. In commenting on this statement,
the controller says:
THE authorized capital stock of the 4279
National Banking Associations in existence
oct. 81, 1901. was 1868, PA 1876, which is a
net increase during the year of $50, I2lSO.
There was an increase in capital stock of
$21.674,5O0 by banks organized during the
year, including $4,000 of newly organized
associations which increased their capital
stock TO that amount subsequent TO the
date of organization. The associations
which were in existence Oct 81, 1900.
increased their capital stock during the
year To the extent of $2l, ,S15. .000 There was
a decrease of ca pital stock of $S,04OOO0 by
voluntary Hquidations This amount in
cludes the capital stock of banks which
have not yet deposited lawful money to re-
tire their circulation and withdraw thoir
bonds, the accounts being still carried
the books of this Office. During the year
thirteen associations, with capital stock or
81 $50, 900, were placed in charge of re-
ceivers, two of which, however, with COM
bined capital stock of 500 600, were proved
TO be solvent and permitted TO resume busi-
ness, leaving the number and capital stock
of insOlVent banks for the year eleven and
81 100000. respectively. There a fur
ther loss of capital stock of 50, 752. 200, by
the reduction of capital stock of active
sOCiatiOns. OF the thirty-nine associations
placed in voluntary liquidation twenty-five
were succeeded by or amalgamated with
other national banks; six were absorbed
by State banks or trust companies, and
eleven liquidated for the purpose of wind
ing UP their affairs
"The number of reporting associations in
creased from S,942 on Dec. Is, 1900. to 4,221
on Sept. 20. 1901. The aggregate resources
h H. 1,t lot, .,1l,r1 4
higher point than ever before in the his
tory Of the national banking system-name-
ly, So 695, ,34l, 1896 an Increase since Sept
3. 1900 Of $647, ,20S 1851. Each successive re-
volume of loans and discounts. on Dec.
l3 1900, the amount of assets Of this char
Sept. 30, 1901. 50. .O1s, ,6l5,9 $50, an increase
since the report on Sept 5, 1900, of $3Sl, ,S56,-
SECURITY FOR NOTES.
"On Feb. 13, 1900, the date Of report near
est to March IA Of that year, when the act
was approved authorizing the issue of cir
culating notes to the par value of bonds
deposited therefor. bonds for that purpose
were held by the treasurer of the United
States in trust to the amount of s236. .2S3, $50.
On Dec. Is, 1900 the amount had increased
TO 1906, SO, ,1sO and on Sept. 30. 1901. to $685.,
81, $50. Bonds on deposit as security for
government deposits increas ased from s1O1,-
4l4 $40 on Dec. 49, 1900. to slO7 1O7 100 on Sept.
30, 1901. The total investments of national
banks in government bonds on Dec. 13, 1900,
amounted to $4lSO61,9 $50. and on Sept. 80.
1901, to $444,376. 490
ION Feb. Is, 1900, the aggregate amount
of paid-in capital of 1904 banks reporting
s613,OS44 465. BY Dec. 49, 19O0 with
increase of banks to 3942, there was an in
crease of capital 10 S632, 1853 405. At date of
last report from the 4 221 banks their paid
in capital stock is shown to have been $3.50
341. $50. Compared with Sept. 8, 1900, the
paid-in capital stock has increased since
that date in the sum of SO 042, ,S49.2S. The
surplus and net undivided profits of the as
soCiations on Sept. CO. 1901. were $279 532,
S5S.62 and Sl51. OBS. 26 respectively, ap-
proXimately an amount equal to two thirds
OF the paid-in capital stock Since Sept. 5,
1900, the outstanding circulation of national
banks, as shown by the reports of cOndi-
ton, has increased in the sum of $39, ,914, $685.
standing on Sept. 30, 1901, at 1923, 500, ,597 So
There is still carried on the books of a few
associations converted from state banks
circulating notes issued by the latter to the
amount of S51.S74.5O.
f'National banks held the greatest amount
OF individual deposits during the existence
of the system on July 15, 1901, namely
| $2,941, ,S37, ,42S.77 Liabilities to depositors on
Dec. -, 1900 aggregated 81 623 997, IS. and
| crease since July 15 1901, of S40S4. 1876 Al. but
an increase since Sept. 10. 1900. of $429, ,5O4-
| $3.50.
Government deposits on Sept 30. 1901.
showed an increase over the amount held
Dec. Is, 1900, of S23, AS 992. 20, the aggre-
/ gate held on the latter date being Sl0l, 40S,-
| 774.93.
| LIABILITIES AND RESERVE
1.-The net amount of liabilities of national
banking associations on Sept 80. 1901. on
which reserve was required, aggregated $S,-
| 661. GA 311.74 the reserve required thereon
being 1853, 43,977.s7, and amount held S1.Ol2-
/ 299, ,l0257, or 2765 per cent. The composition
of this reserve was as follows:
Specie S3SS 536 S1 13
Legal tender noJes .............. l5l,OlS 90
| Due from reserve agents ....... 456. .63S 5l7 Is
/ Redemption fund with the
] treasurer of the United States is, ,104 962 90
I The refunding clause Of the act of March
| Il. 1900, resulted in a material change in
| the class Of bonds on deposit with the
! treasurer Of the United States in trust as
/ security for national bank circulation on
| oct 81, 1901, the bond deposit had increased
/ 10 $l29, SIS, $50. all of which. with the excep-
| ton OF about per cent, consisted of per
| cent. cOnsOls Of 1880.
! "On Oct 81. 1901 the outstanding circula-
! tiOn of national banks amounted TO 1888, So, =
75. an increase for the year of S2S 219. .447, and
since the passage Of the act OF March Il.
| 1900. of S105. SOC. 4S5''
The controller has prepared tables show
| ing the aggregate resources OF national,
| state savings banks private banks. and
| loan and trust companies from reports
made 10 him or obtained from other
sources. The result of this Investigation
| kinds I'm the country, with an aggregate
| capital of 81 13S. 1884: surplus and undi-
vided profits of $685.. .o95 and S27o. .s55. 293;
| espeCtiYely; deposits SS.6l9. .2S5 10; and
loans and discounts. 81, ,49l. .630. .743.
/ These consolidated returns are presented
| in details for each class of banks in each
STATE and geographical division. and all
| banks OF each class in geographical di-
! visions and in the United States. In the
| New England States there are shown to
be in operation. by these returns. Los