Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-07
STATE OF THE BANKS
Reports Submitted to Con-
trollet; Of Currency.
INCREASED BUSINESS
Il --ss,
GROWTH INcIRcULArIoN SINCE
THE ACT OF MARCH, 1900.
At Close Of Business April 80 Last It
Amounted to $780,
151, 72S.
INCREASED BUSINESS

|
151,72s.
The national banks Of the United States
| continue to share the prosperous conditions
with all other classes of business. The con-
troller Of the currency has completed the
compilation of the reports of national banks
| under the call sent out April o. These show
total of 4,845 banks at that time, an in
crease Of 70 since the last call, February 6,
1903.
The total resources of the 4s45 banks are
placed at the enormous figure Of $6.212-
792, 49, The paid up capital stock of these
banks is 34.903.3 1903. an increase of more
than s3,5O0,O00 over February 9, just lit
tie over two months. showing steady in
vestment in banks throughout the country.
The surplus funds Of the banks aggre-
gated 1854 ,033, 637. The total amount of ma
tional bank notes outstanding was $685.
093, 791.
The individual deposits of the banks con-
stltuted more than half of the liabilities,
and gave some idea of the wealth of the
people of the country. The total deposits
of individuals were So, 16S, 275,26O.
Every succeeding call for reports of the
condition of the national banks shows that
the deposits increase. and that the people
have billions of dollars laid away for hard
times. Besides the individual deposits the
banks held $14O,677, 4S5 of funds belonging
to the United States government. as secur-
ity for which they had on deposit with the
treasurer of the United States bonds for
about the same amount.
An idea of the increased business of the
nauonal banks may be gained from the in
crease in some Of the various items since
April 30, 1902. at which period a call for
reports was sent out by the controller In
the item of loans and discounts there was
M hotru ANri1
30, 1902, and April 8, 1903.
The capital stock of the banks increased
Jus, I26,99l, showing the investment interest
In these institutions There was likewise
an increase of $25312.0 52 in the amount OF
ational bank notes outstanding Indt-
vidual deposits increased during the same
period $56,5S5, O64, while deposits of govern
ment money increased 81, 923. POI. The total
resources increased $3.50, 657 ,O3S a remark
able Strengthening of the banking insti-
tut1ons under the supervision Of the
United States
During the period mentioned there was an
increase of 422 national banks.
Statement by Geographical Divisions.
In the New England states there were In
operation April 8 543 banks; % were tnsol-
vent; 14O in process Of liquidation by rea-
son of failure to renew charters, consolida-
ton. etc.
The eastern states. comprising New York,
New Jersey. Pennsylvania. Delaware,
Maryland and the District of Columbia.
had LIZA banks in operation, II insoIyent
and 24O in liquidation
In the southern states-Virginia West
Virginia, North Carolina. South Carolina,
Georgia, Florida Alabama MississipDi
Louisiana, Texas, Arkansas, Kentucky,
Tennessee and Porto Rico-there were SG6
banks; "a insolvent and 208 In liquidation.
Porto Rico has one bank operating under
the supervision of the United States.
The middle west, comprising Ohio, In
diana, Illinois. Michigan. Wisconsin, Mime
sofa, Iowa and Missouri. ]. 430 banks alive;
IS 1nsolvent and ST. in liquidation.
North Dakota, South Dakota, Nebraska,
Kansas, Montana, Wyoming. Colorado.
New Mexico. Oklahoma and the Indian ter
ritory, comprising the western states, have
GAS live national banks, 100 extinct, and 219
in liQuidat ton.
The Pacific coast states-Washingto
Oregon, California Idaho, Utah, Nevada,
Arizona, Alaska and Hawaii-have 1GA
banks in operation SO insolvent and 81 in
liquidation.
Banks Organized in April.
: During the entire month of April, there
were organized fifty-one national banking
associations. with authorized capital stock
Of S2.79O,O0O, and bond deposit as security
for circulation of $ee5.0OO the latter being
a fraction less than % per cent Of the cap
ital. OF the organizations. thirty-three,
with capital of 1855, 600, were Of the class
authorized by act of March IA. 19O0-that
Is, with capital of less than So, OOO-and IS
with capital Of 81. 1886 coo. associations with
individual capital of $4,000 or over
During this period three state banks, with
aggregate capital of 100000, were con-
verted; eighteen banks, with capital OF
$670. 600, reorganized from state or private
banks closed for the purpose, and thirty,
with capital Of $1,S2O,OO0, were organized
anew.
Since March IA, 1900. there have been
added to the national banking system l. 4Y3
banks. with total capital of sSS,92o.5OO. and
bond deposit as security for circulation of
SCI O64 500, the latter being trifie less than
"a per cent. of the maximum amount de-
postable.
Classified by capital STOCK, 800 banks,
with total of s25, $40. 500. We're OF the class
authorized by the act of 1900 and 500. with
an aggregate capital of $f3 ,0;5 600, orga-
aizations formed under the provisions of
the act of 1864 Further Subdiyldiur the or
CARNATIONS, it appears that 1872 banks, with
capital Of $12,526OOO, were conversions of
state banks; 461, with capital of $40, 41O 600.
organizations of state and private banks.
leaving $50, with capital of 59S) 5oO
banks of primary organization. the Latter
representing. approximately, 81 per cent Of
the total number organized during the ne
Rod. and nearly 80 per cent Of the aggre
gate authorized capital stock.
Increase in the Banks.
The number Of national banking associa
tons increased from March IA. 1900 to
April so. 1903, from 3617 to 4,914. and their
authorized capital stock from $616 3OS Oe5
to $743, 1O6. 695. During this period honda
on deposit as security for circulation in
creased from $244 .611 so to $3.50 .696. 100
and circulation secured by bonds from
$216,374 795 to $347 .584s355.
At the close of BUSINESS April 30, national
bank circulation outstanding secured by
bonds and by lawful money amounted to
Ss91. 1o1, 72s: and wAie there was an in
culation Of ss2}4541. there was red Glc-
ton Of $52s.o71iiin circulation secured by
deposits of lawful money, making a net
increase of SIS. 632 47O5 With the exception
Of s9.7s5,s7o. the outstanding circulation of
soils 81 1880 Bonds held by p the oe den e1n-
ment to secure public deposits aggregate
s153. 1859 of Which $17,99s.900 are state
and municipal Securities. and the balance
bonds of the United States.
n ~
In Commission and Out.