Daily press. [volume] (Newport News, Va.) 1896-current, 1906-12-07
CONDITION OF THE
BANKS OF COUNTRY
William 3. RIdge|y, Comptroller Of
The Currency Prepares His
Annual Report.
NUMBER OF BANKS INCREASE
The Amount of Loans and Dlscountu
on September &. 1906 w,as s4,2os,-
316 But There Was a Large Re.
esrve Fund to Protect it-some
Interesting Facts and Figures.


been prepared for transmission 20
Congress. The report begins with
Il table giving a detailed Statement;
of the resources and liabilities of ali
the national banks of the United
States, as shown by the five reports
OF condition made In response to the
call of the Comptroller.
1t appears from these reports that
there has been an increase in banks
from November g. 1905, to Septem-
Der 4. 1906. from 1888 to 6,l37.
anu that loans and discounts repre-
sentng over so per cent OF the
hahks' aggregate resources. steadily
Increased from $i.016,735 497.99 on
November 8, 1905, to $i.29S, 9S3 ,316.ll
on September 1906. The aggregate
resources of the banks are In loans
End bonds, securities, etc, and law
full money, the loans amounting to
$i29S,9S3, BIG; United States bonds
on deposit to secure circulation
SEA 03g $50: Government loans, S97,-
Hi, $50. and held in bank, $7,5SS, $50;
other bonds and securities, $70l,-
|2l0,755; specie. $iG4,i37,2 90; legal
tender notes, slGl.575.12O. The paid
in capital stock is shown to be $685.
0Gc,796: surplus $40 .2l5,134; other
undivided profits SlSO,5G9,S57; cir
culatimg notes outstanding, $5l7,9GA,-
5ll; Individual deposits. S4,I99,93S,
80; United States deposits and de-
posts OF United States disbursing
officers s107,S31,Sl3.
Since August %, 1905. the date of
the corresponding call. increases have
occurred as follows: Loans and dis.
counts, S30O, i74.l63: United States
bonds. $I7,3l5,040; capital stock $50
( l9G,567: surplus and other profits,
$40 pal ,023: circulation outstanding,
! $iS,9Si,722; individual deposits,
S379 256, 597. The amount of Legal
tender notes held ON September 4,
August %. 1906. and the amount due
to other banks and bankers was less
to the extent of $35,S76,120. The alb
stracts further show that from No.
vembcr ., 1865, there was gradual
increase in the volume of loans from
I$l,0lG735, 497 to 81 29S,9S3,316 on
September 4. 1906. Individual depos-
It's amounting to S39S9,52 1874 at the
beginning of this period to the en-
tent Of 500 100000 by January %,
1906; fell oil to the extent of $110,-
600 600 on April &, but between that
date and June is increased $77,00O,-
900. The total increase in individual
ldcposits from November Q. 1906, to
September 1 1906, was approximately
$40, 100000.
Loans and Discounts
Periodical reports of conditions
made to this Office by national bank
| Ing associations show the amount
and chahracter of loans, classified as
demand paper. With one or more
individual of firm names; demand
paper collateral by stocks. bonds,
aud other securities: time paper, sim
gle name and time paper secureu
by stocks. bonds, etc.
The amount of loans and discounts
Oh September 4, 1906, was $4,29S,-
9S3,3lG of which s1,016,793,3i3 were
held by the 81 banks in the reserve
cities of New York, Chicago, and ST.
Louis. Accommodations of this char
acter granted by the 295 banks in
the IS reserve cities amounted to
Sl,lGl, 1851 lS9. The total for banks
in both classes of reserve cities was
$2,17S.777532 divided as follows:De-
mand. single name paper, S171,7S7,-
594: demand. secured by stocks,
bonds etc, $621.324,914; time paper,
two or more individual or firhl
names, s571,779,4S2; time paper, sin
gle name, $406.43O,691; time paper
secured by stocks, bonds. etc. S407,-
45iS5l.
Loans granted by the 5,7S1 country
banks aggregated S2,120,205, 1874, clas-
sified as follows: Demand, single
name paper. 2,901,651: demand pa
per, with collateral. $206,691 $50:
time paper, single name. S3G9,694.-
$ilG,G62,4S7.
With the abstract of reports OF
condition of national banks at each
cali is presented statement of
the amount of deposits on which re-
serve is required. together with a
classification of, and the amount and
per cent of reserve held. National
banks located in the central reserve
cities-New York, Chicago. and st.
Louis-are required TO hold n cash
reserve of % per cent; banks in 9TH
or reserve cities 25 per cent. of
which, however one-half may be dc.
posted to their credit with central
reserve city banks; and Is per cent
by banks not located in reserve
cities, three-fifths of which reserve
may consist of balances due fro.-
approved correspondents in central
OF other reserve cities.
On November 0. 1905, the deposit
liabilities of banks were $4,667, 1926 !
425 and the reserve held 1855. 1893, 9G3.
o. 21.17 per cent The New Yors
City national banks held reserved
of 1926 per cent but the deficiency
In the other central reseve cities
brought the average of the three
cities down to 24.55. and while the
other reserve city banks held roll