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

p WASHINGTON, Jan. H.-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 Dee. TO- 1901, shows the
business of the banks to be in a highly
satisfactory condition, and sets new
hlgh record in aggregate resources, indi-
vidual deposits, capital and surplus. At
the time of the last report, Sept go 1901
these items mad reached the highest point
ever known, but the reports of Dec. 10
show still further rise. The aggregate
resources show an increase of S27, 49,, 341
since Sept. 3d. 1901, and $3.50, $40 $40 since
Dee. Is, 1900 the total now reaching the
enormous sum of S., 722, 73O, 635
The individual deposits increased $685.
C64, 1872 since the last report and $780, 49,
AS during the last year, the total now
being 2,964, III, 965. Capital stock in
creased since Sept. 80, 1901, by $685., 784
pIus and undivided profits increased $18,-
S33, III since Sept. 80, 1901, and sac. 0O2. OILS
since Dec. Is, 1900. The total capital sur
plus and undivided profits on Dec 10,
1901, was $1,i14 225, 943.
The loans and discounts show an in
crease since Sept. so, 1901, of $81. 349, OH,
and since Dec. Is, 1900, of 1921, 720, SO3 The
bills payable and rediscounted show q
1880
and an increase for the year of Sc 264, 8l5
Stock and securities increased since last
report bv $2966,O23, and for the year by
S,100 939. There is a decrease shown ~
$7,029,Sl2 in the amount of specie on
hand since the last report. but a net in
crease of this item for the year of So $50
IA The circulation also shows a de-
crease since last report Of 81, 426, 2S5, but
an increase for the year of SIC, sos 1872
The item Of real estate, other than
banking houses. which has steadily de-
cir M
Z theT small decrease. This item reached
ITS maximum Dec. l, 1885, of $50 965. 4S8
This 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 enahIe
the banks to sell this property, and fhis
Item III the report has Shown a decrea Ga
at al, each report until it is now reduced to
The average reserve held by all the
banks is 26.n per cent, or III per cent
more than the legal requirements Of q.
reserve city. The ratio of total denoci+o
to capital stock is SO; to canitaI and SII1.
Plus, "A. AS long as the reserve is aTa-
PIE there is no cause for any unes si,ass
IN the increase OF deposits based on in
1t rather indicates an active prosperous
condition of business, and that the banks
are fulfilling their proper duties in fur
nlShln Ger cIeqits upon which to do the
very large business now being done in
all 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 Septemher
last the banks met the emergency Splen-
didlY and without any signs Of weakness
anywhere. Among the bankers and bus
iness men from every part of the United
States the report is unanimous that bus
tness is in splendid condition. and their
customers prosperous and making money.
4ne iron and steel and coal trades never.
were better and the amount of the rail-
road business is probably limited by the
die it.