The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-12-08

llCISdScu uurlHg the year Oy @oV1Vos-
S69.61, and the liabilities increased $685.
sos, 1850. Thus, the available cash
balance at the end of 1903 exceeded
that of 1902 by $26, 49S. 753.o7.
Increased receipts from customs
sales of lands, and from miscellaneous
sources nearly equaled the diminution1n
receipts from internal revenue The
increase of expenditures for the fiscal
year 1903 over those of 1902 resulted in
a reduction of the surplus revenue for
the year of $50, 9S9. 7OS-21.
For the first quarter of the fiscal year
1904 the receipts were Sc, 49,, AZ
greater than the expenditures.
The trust funds held for the redemp-
ton of the notes and certificates Tor
which they are pledged increased to
| 1893, O6S, 869, an increase for the year OF
$62. 459, $50.
Transactions in public debt items,
other than those. related to the trust
funds, caused net decrease of SIS, 625,-
444 in the public debt and reduced the
annual interest charge to the extent OF
| 81, 001, 372.20
The foreign holdings of United States
bonds are principally confined to the
registered class, and are dimin ms
In 1899 the amount was $24, 3S9, O2O- Al
the end of 1908 it was reduced TO $io,-
| S66, $50.
notes to the amount of SUCCESSFUL were
presented for redemption, an increase
over the previous year of $24, 560. 1863. me
exnenses incurred were STA, 477.62, which
| have been assessed upon the banks at
the rate of $O.e0262 per $1,000 or their
notes redeemed.
There is a continuous growth in the
ratio of public money of denominations
| Of so and below to the total puDnc
money in circulation, but the increase
in small bills hardly keeps pace with
\ the demand. The process OF changing
denominations under the act of March
IA, 1900 will reach its limit in about two
years, and the question OF rurtner pro
vision for small notes requires early at
| tentiOn The treasurer suggests tnat
gold certificates of the denomination OF
| $40 be authorized, and that the restric-
ton on the issue of 50 notes py natlon-
/ al banks be removed.
! Gold continues to accumulate in the
! treasury. The total holdings or golo on
| July l. 1903, were 1851, 789-43, an increase
for the year Of 81 22O, 489. On OctoDer
l. 1903 the total holdings of gold In the
treasury amounted to 1854, LIS I'm
| restricted use of gold coin and certifl-
Gates in all branches of business ana
the freedom with which they are pald
into and out of the treasury nave been
marked features of the treasury opera
tons during the past year.
i Transfers of currency by Telegraph
against deposits in New YORK TO COW
| er what is called money to move the
crops continue. DepositorS ma II con-
venient to offer gold certificates for the
exchange, and as small denominations
are almost always wanted for Local use
ury pays out United States notes OF the
denomination of SO and silver certifl-
Gates of SIS and below.
in the fiscal year 1903 amounted to
1851, 038, 900. and the number OF pieces
was 81 per cent greater than In IVY.
Reclamation amounted to S4SS, 55S, 22O
and the number of pieces was 22.l per
cent greater than in 1902.
A new record was made in the receipt
of all kinds of money for redemption
and exchange during the year. The
amount paid for was 1864 5O5' SOL, an IN
crease of $141, 228, 3f5 over the preceding
The sum of ss55o4O5o was sent to
the Philippines from May, 1898, to
The standard SILVER dollars in circu-
lation July 1. 1902 were $68, TAT, $40, and
the amount in circulation July l, 1903.
was $72, 80. 240. The amount distributed
at the expense of the government dur
ing the past fiscal year was $41 1s2.154.
/ Subsidiary silver coin amounting TO
$24, 112, 445 was distributed during the
year to depositors therefor. but the
amount in circulation shows an in
crease for the year Of only S7o05. 466.
4 The rate for transportation on ship
ments of silver coin during the year
was 5000 per $1,000
NATIONAL BANKS.
At the close of the year ended Oc-
tober 81, 1903, the notwithstanding sys-
tenn had been in operation for forty
years and eight months. During this
time 1929 national banks were organ
lied OF which 5e07 were banks Of pr1-
mary organization and 1,122 were state
banks converted into national assocla-
tons: 399 banks failed and were placed
in charge of receivers. and ], 483 went
into voluntary liquidation for the pur-
pose of consolidation with other banks
or retiring from business. The fall
ures We're sc per cent and the liQuida-
Of 70 1T11h
of banks organized.
During the year ended October 81
1903 $50 national banks were organ
lied, with a total capital of $34. 1873. 500
OF these banks. 343 were organized
with an Individual capital of less than
$50. 900, under authority of the act OF
Congress approved March IA, 1900, and
210 were organized with individual
of these banks. with an aggregate cap
ital of $2,43S, 500, were conversions OF
state banks: 1913. with an aggregate
capital of ss5.470,000, were reorganiza-
tons of state or private banks: and
BOG, with capital of SIS $4,000, were
banks of primary organization.
Under authority conferred by the
act of March IA, 1900, and from that
date to October. a. 1903 1,14S banks
with an individual capital of less thar
$4,000, and 617 banks with an individ-
. ual capital of $4,000 or over, have beer
0 organized under the misunderstanding
system. OF these banks, 207, with z
capital of $13. 92S, 500, were conversion:
! of state institutions: 561. with a cap
ital of $50, 405, 900, were reorganization
of state and private banks. and 997
with a capital of $54, 159. 500, were bank:
of primary organization.
1t is a notable fact that the banks
since the financial legislation of Marcel
IA, 1900 constitute nearly Dne-fourth o.
the number organized during the entire
existance of the national banking sys-
tenn.
!; The net increase for the year ended
October 81, 1903, in number of banks
! was 46S and in amount of capital stock
; $50, 931, 400. The number of association.
in active operation at the close of the
current year was 5, 147. with authorized
capital stock of $766. S67, O95. During tn,
year, II national banks exclusive %
. | one association placed in solvent condi