Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-08
RIDCLEY MAKES REPORT
Comptroller Of Currency Tells Of Work
Of His Bureau.
NATIONAL BANKS ARE IN GOOD CONDITION
Supervision of These Installations Can'
not BE Complete without Cooper
alton Between United states
ana Boards of Directors.

and Boards of Directors.
WASHINGTON, Dec. THE annual re-
port Of William b. Ridgely, comptroller
Of the currency, has been prepared for
transmission to congress. The report
begins with a table giving a detailed state
ment Of the resources and liabilities OF
all the national banks of the United states,
as shown by the five reports of condition
made in response to the call OF the comp
troller.
National banks have made I'VE reports
during the period beginning November 10,
1904 and ending August 25, 1896, and that
there has been an increase In banks IN
that time from Sag TO 800. Loans ana
discounts representing over so per cent
II the banks aggregate resources steadily
incTsased from w ~ IS s4l5S on Eoyem i9es
The increase in bonds on deposit as Sc
curity for circulation was from $425, 1S9,ON
to NI7,5S2 $50. the increase being approx
vestments in government bonds - that Is,
as security for circulation and public de-
posits and amount held - represented APP
proximately 7.6 per cent of their resources.
The amount invested in securities of this
character on November 10, 1904, was S54S,-
10000 and on August g. 1905, 1851 100000.
the net increase being only 100000 by
reason OF the large Withdrawals during the
year of government deposits and the CO.
incident release OF like amount of Sc
curities. At date of the first repo"t in
question the holdings Of specie anu legal
tender notes aggregated $642, 100000. These
holdings increased on January II to $685.
10000, fell 10 S64l 900 on March IA, in
Creased TO $649.20O,Q0O on May %. and on
August rs last reached 1855, 100000 The per-
centage of specie and legal tender notes
70 the total resources was SO on the last
named date, as against ~ on September 8
and 80 on November 10, 1904 The three
items of loans, United States bonds. and
awful money represented lo2 per cent Of
he aggregate resources. s7.472 $50, $685., on
The pAid-in capital stock on August 25
1906. was $3.50, 229, and the earnings -
surplus and other undivided profits - were
Ie0,200,0W. On November TO- 1904, the
oapital paid In was slightly in excess of
I,vSed aad t9 ssos Surplus UdG o and other pn
u. 1903, the stockholders interest, repre-
ssnted by capital. surplus. and profits, was
cent of, the total liabilities. The reported
outstanding circulating notes on November
~, 1904 were $4l9120.020 and on August 25,
100000
OF the liabilities on August Is, 1896, Sill
per cent represented individual deposits,
which latter amounted to 1892 6S1, 7l3.23 an
increase since November 10, 1904, of S112-
100000 The government deposits, including
deposits OF United States disburslng of
hcers, decreased from O3OO. 900 on Novem-
ner TO- 1904 to S62,OOoO0O on August %,
The deposits on which reserve is reouired
that Is, individual deposits and net bank
balances-amounted on August 25 1915 70
N,fsS,OoaOo9' OF which N,S42. 100000 was held
Chicago and st. Louis), $1,275,O 900 by
banks in other reserve cities (the aggregate
VIII 900 900 by associations classed as coun-
try banks.
Capital, Circulation and Bonds.
In the last year there was gross addi-
osnks 20 Of rs of w SsRt; 9s %epa
800, and s25, SoS,74O from old associations MS
increase. however, was but $50, 500, 40 as
here was a loss of s2S, 49,, 800 as result
u voluntary liauidations. failures and re-
The average capital of the 3,617 national
banks in existence on March IA. 1900, was
$1,000. At the close of business on Oc-
lober 81 1905. the average capital OF the
5,SbS banks then In operation had been re-
auced to $4,000 the reduction being due
uf less than $4,000, under authority of the
act of March - 1900 the latter being
although the exceptions raised the average
OF that class of banks to approximately
5000; The average capital of the 947 banks
organized under authority of the act OF
1854, and from March IA, 1900. to October
81, 1905, was 100000, making an average for
me 2,1O2 banks organized during the period
n question of approximately 10000.
Al the close OF business on october 81
1905. registered bonds to the amount Of
Sy93, 9l2,1e0 were on deposit with the treas.
urer OF the United States. in trust as Sc.
curity for national bank circulation, OF
which $4S3, 49,, 300. or nearly 9S per cent
were per cent consols of 1903, there beine
still on deposit as security for circulation
per cent bonds of 1908 to the amount OF
S2,215,540 fours of 1907, to the amount oil
$50 and tours of 1875 to the amount OF
u, t60, 000 The average market price of
per cent consols in November, 1904 wa;
l0i.7SSS. The maximum price was reached
in March, 1906, namely, 105.1389. In October
1906, the average market price of these con
soils fell to 103,4295, giving them an average
investment value in October of 1895
The percentage of outstanding circula
ton to the paid-ln capital of nationa
banks. as shown by reports of condition
periodically from January, 1866, to Decem
ber 1885, materially exceeded 80 and ranged
from maximum of 1913 at the close of 1S6
to sos at the close of 1856. From the latte
date there was a gradual decrease to IS,
ln July 1891. From October, 1893. TO March
1895 the average was approximately % pc
cent and thereafter steady and slight IN
,.rease to 1873 per cent in December, 1899
The act of March IL, 1900, resulted in al
increase Of the rate to 3S.3 per cent OF
April % of that year and 47S at the clos
nf tho year With the exception of July
1907 when the rate was A per cent, tn
proportion OF circulation to capital has ex
ceeded As per cent since the date las
named and reached a maximum or 5S6 pc
,cnt IN August, 1905.
Organization of National Banks.
From the date OF the granting of tn
first charter to a national banking asso