Durango semi-weekly herald., 1905-01-02

4.25s ,s93. in 1890, TO 7.305.443 In 1904.
ing tl,524 .S44 SOC in 1890, and 81, ,060,-
1881 in 1904 The greatest gain has
occurred since 1897. The deposits have
doubled since that date. In 1890 the
average due each depositor was
$35s03, while in 1904 it is S4188s"
Has there been similar growth
of national bsnks?"
Yes. II has been even more rapid
The records show that since the pas
sage of the act OF March IA, 1900, plac-
ing the minimum capital at $685. 600,
tered, of which nearly Is per cent
were conversions OF state banks. Over
two-thirds of them were in New Eng
land and the eastern states. On the
14th of March, 1900. we had 3,617
national banks in operation. On the
last day of October, 1904, we had
j.i95. The capital has increased from
s6lG .30s .095 to 1851 1876 ,335
There were only twenty-six nation
al bank failures during the last year.
Six of these have been restored to
business. Eight OF the failures were
due 10 fraudulent management or the
dishonesty of the cashiers The fail
ures were in the following state:
Oklahoma. five New York, four Tex
as Indiana and Iowa two each; Colo
rado. Illinois. Connecticut West Vir-
ginia. Ohio. California. Indian Terri
tory. Georgia New Jersey Vermont
and Pennsylvania one each The
books show that every national bank
chartered in the State of Delaware is
still In operation, and that the other
states and territories in which no
failures occurred are Maine. Rhode
Island Arizona. Alaska. Hawaii and
Porto Rico One bank in West Virgin
If. temporarily in charge OF a receiver
was subsequently permitted TO resume
business. which practically adds that
state to the list of those in which no
failures have occurred
During the existence of our ma
tional banking system 1.549 national
banks, or 2G7 per cent OF the total
number organized, have been placed in
liquidation either by the vote OF stock
holders or by the expiration of char
ters. OF the total number of insolvent
banks 345 have been settled and the
receiverships terminated. The records
show that the creditors realized to-
tai of 7S.1l per cent on their claims
In New England the creditors OF the
nineteen national banks which have
failed received 1856 per cent of their
claims. The sixty.three banks which
failed in the eastern states paid 75.3
per cent; the sixty-three In the south.
ern states paid Gsl5 per cent; the
seventy-six in the middle states. $40
per cent; eighty-nine in the western
states. 69l7 and thirty-fve In the Pa
cifc states and territories paid zoos
per cent. The average cost OF liquida-
tion Of an insolvent bank. including
the receivers salary. legal and all
other expenses. Is shown to have been
S.i3 per cent. of the assets.
Was the number of failures this
year larger than usual?"
Yes. IT is larger than for any year
since 1897, when the number was the
same. In 1904 and 1901 there were
nine failures each In 1898 and 1899
there were ten each year. In 1900 there
were five and in 1902 there were only
four, which you will notice is quite a
difference from the twenty-six of the
current year. although, as have said
six of them were only brief suspen-
sions. According to Bradstreet's there
was corresponding number of dis
asters among other than national
banks, the largest number and the
greatest liabilities since the panic of
1898. Among the failures were thirty
seven state banks, seven savings
banks, eight trust companies and fifty
nrivate hauksn