Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-12-17
BANK FAILURES
|. ONLY 5 PERCENT
CONTROLLER RIDGLEY SHOWS
SPLENDID CONDITION OF Ma
TI0NAL BANKS UNDER OPER-
ALTON OF PRESENT Law

Early in the year conditions in
the United States and abroad evi.
denced the probability of contraction
of business in general and lightness
of the money market, but the extra
ordinary conditions developed in Oc-
tober were not foreshown to any ap-
preciable extent in the bank reports
as whole up to August %. There
was steady increase in the volume
of loans and discounts from $4,000
045,29 on November IL, 1905, to
$4,67S,5S3,96S on August %, 1907.
the total increase being $312,53S,-
673. This increase was due in part
to the fact that SIC banks, with au-
thorized capital of $34,967, 900,
were chartered during the year, but
mainly to the increase in business of
the older associations.
The SO banks located in the CEN
trail reserve cities, New York, Chi
cago and st. Louis, held $1,061.-
212,415; and the 306 banks in the
other 40 reserve cities held inyest-
ments of this character to the
amount of $1,242,440,O2S, the total
for both classes of reserve cities be-
ing $2,303,652,443.
On August IL, 1907, the deposits
on which reserve was required
amounted to $5,2256,085,OS7, the
reserve $1,121, 358.395, the average
being 21.33 per cent that of the
central reserve city banks, 26.1SI
per cent, of other reserve city banks
25.46 per cent, and of country
banks 1888 per cent. The average
on January 26 for all banks reach
ed 1851 per cent, the highest Of the
year.
In the year closed October 81
1907, there was gross addition to
the capital stock Of national banks
of $76,14S,000, the losses being, by
liquidation, $111,325,O0O; expira-
ton of charters, 100000; by fail
ures, 1925, 900; by reduction Of au-
thorized capital, $4,000: total de-
crease, $13.OSO,OOO, the apparent
net increase being $63,O6S,O00.
The average capital of the $3.50
associations in existence Oct. 81.
1907. was $136,733.
The authorized capital stock of
oil fha rafinoa1 boDES ~ +bo o1oSa
of the current report was $909,274,-
IT'S; circulation outstanding, $685.
1854, secured by bonds deposited
to the amount of $566,994,91O. The
aggregate circulation outstanding
was $6O9, 9S0,466, which includes
$47252,S52 deposited with the
treasurer on account of liquidation
and insolvent banks and those re-
ducing their circulation.
There was an increase in national
bank circulation between 1900 and
1907 of 1855, 100000, over 14O per
cent
The average capital of 6,O43
banks reporting was $S42,6S5,9
on which dividends were paid to the
amount of $99,72S,239. an average
of 11.S per cent.
The gross earnings were $314.-
701 1872, against which were charg-
ed losses and premiums of $30,922,-
1872 and expenses of S12t .R43,975
leaving the net amount OF earnings
$152,235,43
The average annual rate of divi-
dends declared by national banks
since March /, 1869. is S.76 per
cent, and the aggregate amount OF
dividends declared has reached to-
tai of 1,925,OSS,959. on average
annual capital of $57S,251,374 with
with the proportion of aggregate
dividends to average capital being
393 per cent.
Charters of four associations ex-
pired by limitation and 80 aSocia-
lions were placed in voluntary liqui-
dation. their aggregate capital being
SI1,I40, OOO.
The business of 27 banks. with
aggregate capital OF $6,39O,0OO was
absorbed by other associations, five
banks, including four the charters
of which expired, were liquidated
for the purpose of recognizing; 3s
were closed to reorganized as state
banks, and the remainder (14) clos
ed to discontinue business.
The average life of an active re-
ownership is approximately four
years. and the expense of admins
tration of a trust based upon the
nominal value of the assets Of the
banks closed has been 430 per cent.