Daily press. [volume] (Newport News, Va.) 1896-current, 1906-12-07

serve ranging, from 2l.23 to 32.4O.
he average for these cities was but
2177. The average reserve held by
the country banks was 2.03 per cent
III excess of the requirement. On
January 29,190G. the average reserve
for the central reserve city banks
was 2G.5l: other reserve city banks
2o.7O. making the average for both
classes 300. The average for the
country banks was 1903. On April
6, 1906 the reserve held by the cen
| trail reserve city banks averaged
2i.G0 per cent, and that of other
| reserve city banks 24.69. an average
for both classes of 24.64. The aver
| age for the country banks exceeden
| the requirement by 207 per cent
Tie June is, 1906. statement shows
| The average reserve held by the
central reserve city banks to have
exceeded the requirement by .95 Of
per cent; Chicago and St Louis
banks were deficient, but the excess
q New York City banks made the
average for all good. The other re-
serve city banks had an average ..
@5.42 per cent and the count! !,
banks 1871 On September 4. 1906
the deposit liabilities of all the banks
aggregated $i,927 $50 ,451, and the re
guve held by all banks in the ce!.
,ial and other reserve cities was
deficient, amounting to 2437 and 24
30 per cent. respectively. The aver
age reserve of the country banks
was 1911 per cent
Relation Of Capital to other Items
In connection with the general
statements in relation to the con
ditiOn of national banks it is inte,'
esting to note changes which have
occurred in the relation Of capital
etc, to individual deposits. etc This
| IL based upon the reports made 20
this Office on or about September
1886, 1905. and 1906. AS will be
noted the ratio of capital to indivi,.
ual deposits In 1896 was as 81 toS2.46
in 1905, 81 TO $4.7S; in 1906 was rs
81 to $500 and, including with cap
ital surplus and other Undivided prof
its. the ratios were in 1896, 81 to
| Sligo; 1905, 81 to S2.66: 1906, 81 tc
S2.77. 'rne proportion Of capital to
aggregate resources has gradually de.
creased from 81 to S5.O3 in 1896 to 81
to $500 in 1906 The relation OF
snocie and legaltender notes to indi
vidual deposits varied from 81 to S513
In 1896 to 81 TO S5.74 in 1905 and to
81 10 sui III 1906.
Capital, Bonds, and Circulation.
During the year ending Octbore 81
l?OG there was Il gross increase
Of Si9.935, 800 In the authorized cap
itai stock of national banks, o
which $2S,517,000 was from OLE
barks increasing their capital, ant
S2!.ilS,000 from newly chartered
banks. The loss of capital was SIS,
iOJ,SO0 which includes $l3,223. OOC
by associations placed in voluntar,
liGridation and as a result of ex
piration of the corporate existence
OF two associations: S1536,S0O by
banks reducing their capital. ant
SGoO,O00 by insolvent national banks,
Tho net increase as result of thes,
changes was $S4.525, 700. but this in
Guides S6l2,000 the capital of bank
closed but for which lawful none,
has not been deposited for the re
tircment of circulation and releas
Of bonds on deposit as securit
therefor. The books of the ofIic
slow the actual net increase a
S23 ,913 roo.
The authorized capital stock o
| national banks nj the close OF tn
cirlent report yea; was $S45 ,939, n;
bonds on deposit as security 70
circulation, s539,653, $50; circulation
, outstanding secured by bonds 500
93", 169; circulation secured by dc
pests of lawful money, by bank
reducing their circulation. thos
placed In voluntary liquidation. an;
on account OF insolvent nationa
banks, Si6,23S,SlG, making the az
gregate circulation outstanding $3.50
III, 1855. Bonds on deposit as sc
curity for circulation are as fo
lows: TWO per cent consols O
1880, s492, l70,65O; Panama Cana
lends. $l4.AS2.OSO; fours of 1907
S25.l24.650; fours OF 1925. $4,6O2
100; threes of 1908, S3.273, roo
Earnings and Dividends.
In the year ended March l 1906
shareholders nf national banks wcrt
paid dividends TO the amount of $50,
SS1,5 on $773.544,247 capital, tn,
average rate being 1914 per cent
the highest since 1870 Based or
capital and surplus the ratio wa.
G.S per cent. The net earnings were
S1lS,662,529. or 95 per cent of tn,
combined capital and surplus. Tht
average rate of dividends paid b.
national banks annually from 1877
to 1906 thirty-seven years, wa!
S.42 per cent, were s2,313,396.55G
from which dividends were paid tt
the amount of S1,7S0,712714, which
IS over three times the averag,
|