The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-07-04
ANY NATIONAL
. BANKS STARTED
,nptroIIer Says That 43l Were
Established Last Year.
CREASE IN SHIP BUILDING
EEL STEAMERS BEING sUBsTI-
rUTED FOR WOODEN CRAFT.

WASHINGTON, July 3.-Mr. Ridge
ley. COMPTROLLER OF the currency.
has made the following state
mt: During the year ended June
81 1902. there were added to the ma
& nal bank system 437 national bank
associations, with aggregate au-
s. orizsa capital stock of $50, 4O7, 900 and
s. IN bond deposits as security for cir
lation Of ss.012.750.
81 ORGANIZATIONS effected under the act
March II, 1900, that is, with a cap
N stock of less than $4,000 Gin a
ge majority of cases the capital be-
VI x25, 900. numbered 273. with author
I'd capital stock of $7,247 900, the av-
Gage capital Of these associations be-
Il approximately $26.54e. Included in
IL total number OF organizations are
< banks, with total capital Of s23, 160.-
ID. the individual capital ranging up
bard from a minimum of $4,000.
Tin connection with the foregoing IT
<ay be stated that since the passage
i the act OF March IA. 1900. there have
3an organized / .061 banks. with ag-
kegate capital of So. 34s. 600 and with
8nd deposits of $15,442, 500. Banks of
Be- smaller class we've organized to
De number Of So2, with capital of
{. 402. 600, and 20 the number of 359
the larger class, with aggregate
pital Of s4s,s45,000.
Establishments Under New Law.
I"During the fiscal year in question
De net increase of national bank as
$ciations was 305, as three associa-
pms failed and were placed in charge
i receivers and sixty-six closed by
pituitary liquidation. Since the estab-
5hment of the system there have been
<ganized g,235 banks, of which 1876
-e in active operation, 1892 placed in
pituitary liquidation and 3S7 in the
barge Of receivers.
Ef.While the records showed that the
$tal authorized capital stock of ma
{onai banking associations has in
Ieased during the year from $647. $685.
n 70 1854, 061 ,695, there has been re-
Plcrfon during that period Of bonds on
Fpostt as security for circulation Of
/. Q55. 700
|"Circulation assured by bonds has de-
Feased IN the sum OF 1851 ,872, or
Tom 1923. $50, $50 to 1914, 23S, 81. Circula-
pn outstanding secured by lawful
|oney deposited with the treasurer of
b. United States on account of failed
PC Aquidating banks and those re-
Ieflg their circulation has increased
|on sz9.S51. SOB TO $42. 433. $50 which has
Fsuited in a net increase of outstaDd-
Il issues, secured both by bonds and
|wful money. of $2.929. sos.
"The material changes in denomina-
0ns OF notes outstanding are confined
the fives and to the tens and TWEEN
es. OF the bonds on deposit to secure
|rcuIation notes aggregating 1911, 49,
70, per cent consoIs of 1880, amount
$306, ZOOS. 200, or over 961z per cent of
he total deposits. The paid in capital
Jock of national banking associations
Sreased between April 80, 1901, and
II 80. 1902, to the extent of $50, 397, =
surplus and other profits, $44. $751;
7}rff-7rrs4 Ss2osits. $21S.024. 746; and
|ta1 resources to Ne zfent o& 1881, :
0s4. The aggregate resources of rees
erting associations in April, 1901, and
b were IS. $50. 794.s67 and $685., 1876. 45t
zspectively.''