The Minneapolis journal., 1903-12-07
BANKING STABLE
And PROSPEROUS
CONTROLLER OF CURRENCY Eek.
Tolls PUBLIC CONFIDENCE.

CONTROLLER OF CURRENCY EX-
Tolls PUBLIC CONFIDENCE.
| Increase in Number of Institutions
and Recommendations Banks
| Maintain Reserves Above Legal Re-
| quirements Circulation Larger
| Than Ever-Due to Treasury De-
Observation-Disclosures Fewer Than
Anticipated.
| Washington, Dec. 7.-''That there
| has not been more trouble with the
/ banks and disturbance of business
| generally during this period Of declin-
ing prices says William B. Ridgely,
| controller of the currency, in his an
nual report to the president, lis a
| great evidence Of the confidence Of
] our people in all our money and cur
| rency. If there had been the slightest
! doubt as to our monetary standard or
as to any Of our currency in circula-
| ton, we might have had q most severe
and far-reaching crisis. That we have
not only escaped this, but that there
has not been greater disturbance Of
general business shows what progress
and improvement there has been in
all our banking, financial and none
tary affairs since they were subjected
to serious strain of this kind
i On Sept. Is, 1902, there was an in
crease in number Of reporting asso-
Citations of AL and a net increase of
$196, sol, ,053.S7 in aggregate re-
sources, compared with the previous
years statement The increases of
the principal items of resources are
s201,a19,2e1; United States bonds,
$65,799,65O; specie, sS1,320, ,O47.92;
legal tenders, $14,992,241.
During this period the 1oanable
funds were augmented as follows:
Capital stock to the extent Of s4S,-
7,241; surplus and other profits,
s60,760,9S4.2 government deposits,
$25, ,671, 1871.
Notwithstanding the increase in
1oanable funds and the volume of
loans and discounts, there was a net
decrease from Sept. Is, 1902, to Sept,
8, 1903, in individual deposits Of $52,-
$40, ,394S6. This item reached the
maximum during the year, and also
during the existence of the national
banking system, on June 8. 1908
namely, s3,20O,993,509.22 From this
high water mark there was a decline
on Sept. 9 to $9,156,S33, ,499.07, OF
$44.660, 0,010.15.
| l. lie capital SIOCk anu surplus lullus
of the associations gradually increased
from $714,616,353 and $335,763,730.3s
respectively. on Nov. ,25, 1902, tt
s75s.722,s5s and s37o,3s0,6s4.26, re
spectively, on Sept 9, 1903.
United States Deposits.
5 The deposits of the United States
with the national banks have shown
. but slight variations during the year
\ the amount to the credit of the gov
ai,,or
8 464.809.47, and at the close of thu
8 year $140,411. 1926. Bills payabl
and rediscounts were at their mini
n mum on Feb. 6. 1903, and at that tim
e amounted to s22,921, ,S37.75, and wer
:, at their maximum, 47,O66,S ,S72.06, o.
h Sept. 8, 1908.
g United States bonds on deposit t.
S secure circulation increased from
n s341,32S,S2O on Nov. 25, 1902, t.
/, sa4a,11e,s2o on April 9, 1908; t.
), s368,941,37O on June 9, and to 1881,
n 56S,9So on Sept. 8. United State
It posits increased during the year from
i s131, ,376,700 on Nov. 25, 1902, to $136,
r 94O,020 on Sept. 9, 1903. Bonds othe
IL than United States securities depos
: tied to secure public deposits
= amounted on Nov. rs, 1902, to $19,
s 705, ,74e,s4, and steadily decreased t
j. SIS, 743,O55 on June 8, 1908. On Sep
j.; 8, 1903, however, securities of thi
Il character were on deposit to tn
e amount of $22,000,1S4.6O
e Specie Holdings.
&c The specie holdings with the bank
-, varied from a minimum of $3SS,616
ts 377.S5 on June 8, 19O3,- to a maximum
or S4l7 ,572, ,146.37 on Feb. of ths
r year. The amount Of gold in tn
81 - banks on the date last mentioned wa
=, sl05,2SS,12s gold treasury certificate
| III r011 n fr,oo ifoo 70
: payable to order, s42,215, 900, and gol
:, clearinghouse certificates, $72,435
- 600: total gold and gold certificate
- 3S,703,779. OF the holding Of 81
III yer. s11. .16o,o21 was in dollars: s5S
l61, 1,29S in certificates, and s9,547,0
20 20 S6S.367. On Sept. 9, 1903, the spec
[,e held amounted to $397,556,16s, class
Ill -. if1ed as follows: Gold coin, s1O5,569
= = S94; gold treasury certificates, .$119
~ 1920; gold treasury certificate
~ ~ payable to order, s27, ,1so,0OO; go
-. -, total gold and gold certificates, 1915
~ 424 la; silver certificates, $62,791
g 1858: silver dollars, $10,33s,143, ar
u fractional silver coin, $1,000, ,143; tot
~ silver, $82,132,054.
Liabilities and Loans.
= The deposit liabilities Of nations
banks on which reserve is require
amounted on Nov. 25, 1902, to $3,7O5
er 217,132, against which was held
cash, in funds credited by reser,
agents, and in the 5 per cent redem]
80 ton fund, .$9S7,074,21S, or 1854 p,
~ ~ cent. The legal reserve, howeve
:. amounted to 1917. 7.981.4S1. or 22.(
~. per cent. The deposit liabilities il
an creased on Feb. 6, 1903, to s3,S51
sr- 394,205; declined to s3,323,441,5S5 {
IS April g.. and to s3,S17,O35,O ,O31 {
IT. June 9. At date Of the report MAJ
on Sept g. 1908, the deposit liabiliti
IL had increased to $3,863, ,512.112
le- which legal reserve was held of $3.50
i'll 762,1S4 or 22.02 per cent The pc
of centage Of all available funds
ge deposit liabilities ranged from a mi
los imum of 1925 on April to a max
'sy mum of 27.70 on Feb. 6, and pc
centage of legal reserve was the 10,
est and highest on the same date
Ing being 21.6S and 22.4S. respectivel
OH The average rate per cent Of legal /
. serve maintained by the nation
banks of the city Of New York e
ceeded the requirements at date
~, each: report during the year, and v
ried from maximum of 28.41s,
II Nov. %. 1902, to minimum Of &c.
on April 9, 1903.
Ter The loans and discounts of nation
res banks reached their maximum in t
ne historyy of fha cyStnn1 m Sopt3 1 or