Evening star., 1902-01-22
CONDITION OF THE BANKS
REPORTS SHOW 1T TO BE HIGHLY
SATISFACTORY.
Statement by the Controller of the
Currency-Increase in Loans
and Discounts.

William Barret Ridgely, controller Of the
currency, when asked in regard to the re-
ports of conditions of the national banks,
made the following statement:
The summary of the reports of condf-
tion of the national banks at the close of
business December 10, 1901, which has just
been completed and given to the press,
shows the business Of the banks to be in
a highly satisfactory condition. In fact,
it sets new high record in the main fea-
lures OF the report, such as aggregate re-
sources, individual deposits, capital cnd
surplus. At the time Of the last report,
September 30, 1901, these items had reached
the highest point ever known, but the re-
ports OF December 10 show a still further
rise. The aggregate, resources show an in
crease OF ~ I,3S3.341 53 since September 80
1901, and $3.50 O,640,942-97 since December l3,
1900, the total now reaching the enormous
sum Of 50, ~, 73o; ;6s5; 40 The individual de-
positS increased $36 6f4 732 40 since the last
report and $340, 400 443 "a during the last
year, the total now being 50, 1854, Al Z ,965. So
Ihe capital stock increased since Septem-
Der 30, 1901, by $9,99S, 7s4 and for the year
by $50, 1857 ,2o9. The surplus and undivided
profits increased SIS, 50 since Sep
tember 80, 1901, and .S45, ,002 01S.24 since De-
cember IL, 1900. The total capital, sur
plus and undivided profits on December
10, 1901, was 1,114, ,235, ,943.47.
Loans and Discounts.
1.-The loans and discounts show an in
crease since September 80, 1901, of Ss1,-
3490l1.o1, and since December 13, 1900, of
1851, '2OSO O3.69. The bills payable and re-
discounts show a reduction since last re-
port of $6,541 ,554. &C and an increase for the
year of Sc, 264, S15.OS Stocks and securities
increased since the last report by $685.
O2339, and for the year by S7S 100 $3.50. 49,
Ihere is decrease shown of 81 ,029, ,312. SO
In the amount of specie on hand since the
last report, but net increase of this item
Tor the year of $9,9S0 274.1S. The circula
tlon also shows decrease since last re-
port of -. 4.426, 2S5.5O, but an increase for
the year of $40, 500, ,992
Ihe item of real estate, other than
banking houses, which has steadily de-
creased since December l. 1885, shows a
iurther small decrease. This item reached
ITS maximum December /, 1898, of $780,
300, 1851. This was due to the real estate
wh1ch the banks had acquired during the
tunes OF depression. One of the first ef-
fects of the business revival was to en-
able the banks to sell this property, and
this item in the reports has shown a de-
crease at each report until it Is now re-
duced to 500 962 5000 The matter Of real
estate owned is one of the most frequent
causes OF criticism of bank reports and it
Is gratifying to see the reduction in that
item.
''The average reserve held by all the
deposits to capital stock is 6.3; to capital
and surplus A.
No Cause for Any Uneasiness.
Il was asked today by the correspondent
OF leading New York paper if 1 did not
feel some uneasiness over the large in
crease In the aggregate deposits without
corresponding increase in the reserve. l
replied that the average reserve of all the
banks in the country on December 10, 1901,
was 20. Il per cent, or LII per cent more
than the legal requirements of a reserve
city. AS long as the reserve is ample I
see no cause for any uneasiness in the in
crease 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. .,
The percentage of reserves each year
at the December statement has been as
follows: