The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-22
CONDITION OF THE BANKS
STATEMENT BASED ON LATEST RE-
PORTS TO THE CONTROLLER.
National Banking Institutions in "a
FIOurishins State-ResOurces and
Surplus Increasing.

WASHINGTON, Jan. 21.-William Barrett
Ridgely, controller of the currency, has
made the following statement in regard to
the condition of national banks, as shown
by the latest reports: 1.-THE summary of
the reports of condition of the national
banks at the close of business Dec. 10, 1901,
shows the business of the banks to be in a
highly satisfactory condition, and sets
new high record in aggregate resources.
individual deposits, capital and surplus.
At the time of the last report, Sept. 30,
1901 these items had 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. SSS, 341
since Sept 30. 1901, and $780, ,942 since Dec.
ID, 1900, the total now reaching the enor-
nous sum of s.. 722, 100 6S5.
The individual deposits increased $50, Co.,
732 since the last report and $40, 425. AS dur
ing the last year, the total now being s., 1884,
417,965 Capital stock increased since Sept.
go 1901. by s9.99S. 7S4, and for the year by
$50, 9S7, 259. The surplus and undivided prof
its increased SIS. III since Sept. 80. 1901.
anu s45. OO2, O1s since Dec. Is. 1900. The total
capital, surplus, and undivided profits on
Dec. 10. 1901 was $1.1l4. 235. 943.
THE loans and discounts show in
since Dec. Is, 1900, of 1891, 720. SOB. The bills
payable and rediscOunts show a reduction
since last report 10 S6,5fl,5 54 and an in
crease for the year of S6264.Sl5. Stock and
securities increased since the last report
by s., 966, 023 and fOI the year by $1S, 100 9S9.
There Is a decrease shown of $5029,372 in
the amount of specie on hand since the
last report, but net increase of this item
for the year of s9,9S0274. The circulation
also shows decrease since last report of
s4,i26,2S5 but an increase for the year of
$40, 5O9.992.
The item of real estate, other than
banking house, which has steadily de-
creased since Dec. l. 1885, shows further
small decrease. This item reached its max
imum Dec. 1, 1898, of $50 965, ass This was
due to the real estate which the banks
had acquired during the times of depres-
sion. One Of the first effects OF the Dusl-
ness revival was to enable the banks 10
sell this property. and this item in the re-
ports has shown decrease at each report
until it is now reduced TO So ,962,67O.
THE average reserve held by all the
banks is 26.n per cent, or LII per cent.
more than the legal requirements Of a re-
serve city. The ratio of the total deposits
to capital stock is 6.3; TO capital and sur
plus, "A. AS long as the reserve is ample
there is no cause for any uneasiness in the
increase of deposits based on increase of
loans. 1t rather indicates an active, pros
porous condition of business and that the
banks are fulfilling their proper duties in
furnishing credits upon which to do the
very large business now being done in all
lines. This is what shows the difference
between good and bad times.
During the past year the banks have
shown their strength on several trying oc-
casions. On May there occurred one of
the most violent and sudden stock panics
in the history of the New York Stock EX-
change without making any trouble with
the national banks When the President
was killed in September last the banks met
the emergency splendidly and without any
signs of weakness anywhere. Among the
bankers and business men from every part
of the United States the report is unan-
imous that business is in splendid condi-
ton and their customers prosperous and
making money The iron. steel and coal
trades never were better and the amount of
railroad business is probably limited by the
cars and locomotives required to ham
die It."