Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1902-12-01
CONDITION OF
THE CURRENCY
Annual Report Of Comptroll-
er William B. Ridgely is
Ready for Congress.
A DETAILED STATEMENT
Banks Should Have the Power to
Issue q Limited Amount of
Notes Secured by Bonds
for Emergencies.

| Washington, Dec. 1.-The annual re-
port OF William b. Ridgely, comptroller
of the currency has been prepared fol
transmission to congress. The report
starts with a table giving a detailed
statement of the resources and liabili-
| ties of all the national banks of the
United States, as shown by the five re-
ports of condition made in response tc
the call of the comptroller. From this
table it appears that on September II
last, the date of the last call, 4601 as
sociations reported, with aggregate re-
sources of $6,113,92S, S,912.50. The loans
and discounts amounted to $3,20S, 127
4S0.69, or more than so per cent of the
items of surplus and undivided profits
amounted respectively to 1926, 1893, 953 .66
and $169, 216,512O3. The individual de-
posits reached the highest point in the
existence Of the national banking sys-
tenn s3,2O9, ,273 S93.93. There was due to
approved reserve agents, other nation
al banks, state banks and bankers,
trust companies, and savings banks,
the sum of $1,000, ,341, ,233.39
From September 30, 1901, to Septem-
ber Is, 1902, there was an increase of
$41S, ,617.54 in the aggregate resource
es of the reported banks, the principal
items of interest being loans and dis
counts, $261, ,511, 1929; United States
bonds, $12,57O,52O; due from national
and other banks $35, ,217, ,372.29. There was
an increase in capital stock of $50, 193,-
537; in surplus and other profits of
s65, ,04S 357.81; and in individual deposits
of $271, $50, 66O.6O.
There are in operation In the Terri
tory of Hawaii two national banking
associations-one located at Honolulu
and the other at Wailuku on the Is
land Of Maui. The aggregate capital
of these banks is $525,0OO, their deposits
s646,93S, and aggregate resources
81 1898 There are also in operation
in the territory three other incorporat-
ed banks, capitalized for $S5O,OO0, and
two private institutions with capital of
81, 3OO,0 900. The aggregate capital of all
the banks relative to which informa-
ton has been received is $2,675,0OO; de-
posits, $4,S5S,132; and total resources
$S, 755, GAL.
The application for authority to or
ganze The First National Bank of
Porto Rico at San Juan, by those in
terested in the bank named was re-
newed from time to time, until in the
early part of November, 1902, it was
possible to comply with the conditions
precedent to the organization of the
The bank was chartered
on November 10, with capital of $780,
900, and board of directors elected,
who are citizens Of the United States,
and the requisite proportion residents
also of the island. 1t is understood to
be the intention of the organizers to
gradually liquidate The American Col
onial Bank and transfer it's business to
The First National Bank of Porto Rico
and to increase the capital stock as
may demand.
Eight other incorporated banks are
in operation in the island, that have a
united capital Of $1,417725, deposits of
s2,4S9, 449, and assets of IS, ,359,1S9
The treasurer Of the Philippine ar
has transmitted copies Of
reports of condition of banks and
banking institutions doing business
therein. The last statements submit
ted were for the close Of the year end
ed June 80, 1902, and relate to the con-
dition of II banks, including branches.
The reported capital was 81 100000, the
deposits $1S,122,S66 and the assets $780,
914,4S9. sg
The comptroller closes his report
with a thorough discussion Of the nec-
essity for a greater elasticity in the
and recommends that nation
Al banks be given the authority to sup
ply limited amount of notes secured |
BY two-thirds their value in bonds and |
made absolutely safe to the noteholder |
~ the guarantee fund raised by the
ak on circulation.