The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-22
BUSINESS OF BANKS
TO BE IN SATISFACTORY
CONDITION
NEW RECORD MADE LAST YEAR
Financial Institutions Are Furnish
ing Credits for Big Volume
CT business Now Be
ing Done.

WASHINGTON. Jan. 21-William Bar
rett Ridg!ey, comptroller of the currency,
has made the following statement in re-
gard to the condition of the national
banks as shown by the latest report:
The summary of the reports of the
condition Of the national banks at the
close Of business Dec. 10, 1901, shows the
business Of the banks to be in highly
satisfactory condition, and sets a new
ugh record in aggregate resources, indi-
Eidual deposits, capital and surplus. At
the time OF the last report, Sept. 80, 1901,
these items mad reached the highest point
ever known, but the reports of Dec 10
show a still further rise. The aggregate
resources show an increase of $27, 1888, 341
since Sept. 30, 1901, and $3.50, $40, 942 since
Dec. IS, 1900 the total now reaching the
ENORMOUS sum of 1922 730, 635.
The individual deposits increased S36
CO.. 1872 since the last report, and S340, 42O
445 during the last year, the total now
being -, 964, III, 9G5. Capital stock in
creased since Sept. So 1901, by SO, 998 784,
and for the year by $50, 937, 259. The sur
Plus and undivided profits increased SIS
S33 III since Sept. co. 1901. and S45, 0O2 dis
since Dec. 10, 1900 The total capitai sur
plus and undivided profits on Dec. 10.
1901, was LA 225, 943
ne loans ana discounts show an in
crease since Sept. so, 1901, of S81, $40 OIL
and since Dec. 10, 1900, of 1921 100, 803. The
bills payable and rediscounted show a
reduction since last report Of Sc, 81, 554,
ana an increase for the year of Sc 1854 S15
Stock and securities increased since last
report bv S2966, 023, and for the year bv
0Og59. There is a decrease shown Of
4l.uzS'oI7 IN the amount Of specie on
hSnd since the last report, but q net in
crease Of this item for the year of Sc. $50
ga. The circulation also shows a de-
crease since last report Of $4,426,2S5, but
an increase for the year of $40 500 1922
The item of real estate other than
banking houses. which has steadily de-
creased since Dec. 1, 1898, shows a fur
. theT small decrease. This item reached
ITS maximum Dec. !, 1898, Of $50, 965 498
his was due to the real estate which
the banks had acquired during the time
of depression. One of the first effects
OF The business revival was to enable
the banks to sell this property. and This
Item in the report has shown a decrease
at each report until it is now reduced tn
So, 962 go. ~
The The average az n reserve held by all the
banks IS Z6.u per cent, or III per cent
more than the legal requirements Of a
reserve city. The ratio Of total deposits
70 capital stock is So; to capital and sur
Plus, "A. AS long as the reserve is oIo
PIE there is no cause for any uneasineas
In the increase Of deposits based on in9
crease of loans. ~
1t rather indicates an active. prosperous
condition of business, and that +ba no 80
arc fulfilling their proper duties in fIIr0
n1sEing credits upon which to do tho
very large business now being done in
al lines. This is what shows the differ
ence between good and bad times.
During the past year the banks have
Shown their strength on several trvine
occasions. On May 8 there occurred one
OF the most violent and sudden stock
parties in the history Of the New York
Ste ok exchange without making anv
trouble with the national banks. When
the president was killed in September
last the banks met the emergency spIen-
oldlT and without any signs of weakness
anywhere. Among the bankers and T1Ic
iness men from every part of the United
States the report is unanimous that bus
tness is in splendid condition, and their
1ne iron and steel and coal trades never
were better and the amount of the rail
road business is probably limited by the
cars and locomotives required to han