Barre evening telegram. (Barre, Vt.) 1898-19??, 1902-12-01
FOR CuRRENCYREPORN
Comptroller Gidseiy Says We Need
More Elastic System.
HIS REPORT ASKS FOR Bill,
amman Document Gives Intere.t.
Eng Facfs Relative I, National
os"ki"@-Finances In Our
New POssessions,

washington. Dec. 1.-The annual 70
port OF William Il. Rldge!y comptrol
yer OIL Tile currency, has been prepare,
Tor transmission to congress. p"d
brief summary Of it is as follows:
me report starts with a table giving
taeu statement or the resources AN,
liabilities or all the national banks of =,
United states as shown by the Ave p,
ports or condition made in response tn T.,
call OF the comptroller. -
FROM this table it appears that OH Sem
r. is'z. the date OF the last call, 4,6)l asso
sauohs reported. with aggregate re-
sources OF solls'92s.9l2.j0. The loans am
discounts amounted to 49, 20s, III. 4sO. 80 O,
more than 80 per cent of the total r.,
:Arces Of t4e banks The items Of sur
p!us and undivided profits AMOUNT -.
spectively to 1926. 800, 953 So and sls9 2ls
eizJ The individual deposits reache
the highest point In the existence of iii,
aational banking system, 49, 2O9 273 s93 81
There was due to approved reserve agents
ether national banks, state banks and
bankers. trust companies and savings
banks the sum of 81 200. 81, 23339
From Sept. 80 1901 to Sept Is 1902
there was an increase of $4ls, 5sl.6i7.5i N
the aggregate resources of the reportln.
banks, the principal items Of interest be-
SAir A-OAhS anu uiSCOuntS, $2bl, 81 ,lf2. ~
United states bonds. s!2,5to 500 due from
national AMI other banks $3j,2i7,si..23
There was an Increase in capital stock cI
veOlSS537. In surplus and other profits q.
vs. ois&7.s1 and in individual deposits l..
RI. $50. 16O.fO
Organization of National Banks.
The act of 1863 provided for the organ
1ation OF national banking associations. ia
continue in operation for the perio,!
oamed In the articles OF association bu.
not for 4 longer period than twenty years
from Feb. 35 of that year Under thu
provisions Of this act 1873 associations
Wore organized, OF which ais are still in
existence.
On June 3. 1884 the national bank act of
D63 was repealed and re-enacted with Ger.
tain important amendments. Associations
under this act have been incorporated to
the number OF 1901 of which 374l are In
active operation.
The last amendment affecting the or
sanitation OF national banking asscc.a-
lions formed portion of the act of March
II. 1870. and empowered the comptroller
81 the currency to authorize the srganiza-
ton Of banks with minimum capital Of
tb.G0 in places having population not
exceeding 5000. From the date of the
passage Of the act to Oct 81 last there
have been organized sO5 associat ions.
with capital less than $5O.OO generally
with $4,000. the minimum amount au-
thorized under that act. One Of the banks
Of this class was placed in charge of
receiver and thirteen in voluntary liqui-
dalton, leaving 79l in active operation.
From March IA, 1900, to Oct 81, 1902,
there were organized l,212 associations,
with total capital Of SO, 1859. 500 and bond
Deposit as security for circulation Of 49,
III $50, Banks to the number of 4O7. with
capital Of $40. $50. 0O0 were organised under
the provisions of the act of 1864 and 805.
with capital of 81 09s, 500. under the &C,
OF March II. 1900.
State or private banks to the number of
$50. with an aggregate capital of $23. 9l5.-
s00. have been reorganized as national
banks since March IA. 1902. OF this num-
Der A2 with capital Of $s.7l5,0O0. were
with individual capital Of less than $780,
o00 and III, with capital Of 81. 900. were
OF the larger class. Banks of primary
organization numbered 69l. with a total
capital Of ST.. 73s. 500. of which number 49,
with a total capital Of $ll.5As. 500 were of
the class authorized by the act Of March
H. 1890. and 235. with an aggregate CAPT
tai Of &.l6 ,000 were organized, with an
Individual capital Of $4,000 and over.
During the year ended Oct. 81. 1902, 40
banks were chartered, with an aggregate
capital of t3l, 300. 000 Of which number 302.
with capital of $7,SO5,00o. were of the
smaller class. and 16S. with capital OF
t23 225, 900. had individual capital Of. $780,
On and over. There was an average Of
one and half banks organized OH every
secular day Of the year.
Banking In the New Prosecutions.
There are in operation in the territory Of
Hawaii two national banking assOcia-
tious. one located at Honolulu and the
ether at Wailuku, on the island Of Maui.
The aggregate capital Of these banks Is
e625, 900, their deposits $s4s.S3s and aggre-
gate resources $,4ss,3l9 There arc also in
opera ton in the territory. as shown by
t6turns furnished to this Office by the gov
ernor, three other Incorporated banks,
capitalized for $3.50. 900. and two private in
atitutions with capital of 81. 800. 900. The
arrrs9ate capital Of all the banks relative
to which information has been received is
o. s75, w: deposits, s.. $751; and total re-
sources. s., 755 GAL.
Through the courtesy OF the treasurer
Of Porto Rico this office has been placed in
possession of reports relating to the eight
INCORPORATED banks in operation in the ls-
land. from which 1t appears that these
in Institutions have united capital OF 81
~ T25. deposits of 81. 49,, 49, and assets OF
o6. t59 1873.
The treasurer Of the Philippine archi-
DsIago has transmitted to TINS once cop s
iss OF reports Of condition OF banks ana
banking institutions doing business there
In. The last statements submitted were
Tor the close of the year ended June ~,
tSes and relate to the condition OF eleven
banks, including branches The reported
e. pttal was 81, 400 900. the deposits Sls'l2z.-
~ and the assets $2S,sl4isS'
Branch Banks and Asset Currency
The bill reported at the last session or
congress by the. house committee on pans
snS And currency relating to branch banks
"a asset currency- has had very carer