The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-12-06
Bank Of Cuba. and 1,2G9 national
bank depositarles

The amount OF public moneys held
by the bank depositaries on June 80
1907, including funds to the credit oi
the treasurers general account AM
United States disbursing officers, was
Sl7S,74l.43S52, an increase since
June 80, 1906, OF $S8.297,5liSG. Or
June 30. 1907, there were 397 regular
| and SG2 temporary dcpositarles; BAG
were designated during the fiscal year
and 10 disconeinned. On Noyembe
| / 1907, the number of depositaries
was 1910 and the amount Of public
moneys held by them was $220,270
lG25.t3
National Banks.
Under the act of February %. 1863
establshingsthe national banking sys-
item, and the revised act OF June 3,
1864, and during the period ended
March 10, 1900, national banking as
sociations were organized to the mum
Ter Of 5,2G4 of which 3617 were In
existence on that date. 1878 having
been placed in voluntary liquidation
THE minimum amount Of capital CT
national banks, under these acts. was
$4,000, and the average capital Of
associations in existence at the close
CT business March 10, 1900 was
s170392. The assumed demand for
national banks in localities not war
ranting capital of $4,000 induced
the congress, under date Of March IA,
1900, to authorize the incorporation
OF associations with minimum capital
Of $4,000, but only in town with
not in excess OF 1000.
From the date of the act to the close
of business on August 81. 1907, a
period OF nearly seven and one ha'f
years. 2,333 banks were incorporated
under that act with authorized capital
Of SG0S40 300, the average capita
being S2G,07S. During. this same
period l,256 associations, with in
diyidual capital of $4,000 or ever.
and with aggregate capital of $780,
7l2,S00 We're authorized to begin
bG sinoss The number of banks char
tered under both acts in this period
was 1853 approximately the same
number as was in existence en- March
II, 1900 with capital Of $2ll,553,300.
In this total were AIS state
banks converted into national banks;
l1G4 Associations organized to sue
aeed state or private banks. closed
a ha11 be, f,fl
primary organization. The capital OF
banks Of the latter class aggregated
si09, ,Sa8 500. and that of converted
nil and Teorganized banks &10f,7la- |
900 During the year ended August |
81, 1907 charters were granted to 504 |
associations, the aggregate capital |
being $4,000, ,000t of which 315 |
ranks with aggregate capital of sS.-
10000 were organized under the act
,f March IA, l900--that is, with capt
al of less than s50,000-and 1S9 with
apital of $2G0S0,00O with individual
,apitaI OF $4,000 or over. OF the
,anks chartered during the year. 20
we're conversions of state banks, 14S
organizations to succeed state or pri-
ate banks, and 2S6 banks of primary
organization. While there was
ross increase in number of banks
'rganized during the year of 5Oi, the
Jet increase was but 420, as 81 banks
we're placed in voluntary liquidation
nd 8 closed as a result of insolvency.
Receivers were appointed for s banks
uring this period but in 5 instances
be receivers were discharged and the
anks permitted to resume business.
eving been placed in solvent condi-
lon OF the banks closed by volun-
lry liquidation, 81 were absorbed by
ther national banks, 80 by state
anking institutions. and II closed to Il
business.
From the date of incorporation Of I
he first national bank in 1868 to ,
ugust 81. 1907. 1883 associations ,
ere chartered, of which 6.5s2, with
uthorized capital of s904, 4,494, 775, c
ere in existence at the close of that !.
eriod Associations TO the number !
1922 have been placed In voluntary /,
quotation and i49 in the charge OF
eoeivers. The number of failures
approximately per cent
I the total number of banks char
red. and from records at command
[ the comptroller of the currency it
ppears that creditors Of insolvent
have received. on an
verage. nearly so per cent of the
nornts due.
In the act authorizing the incorpo-
ltion of banks with a minimum
lpital OF S25.O00 were included pro-
sions for the reduction of tax on :
rculation. where secured by per
mt consols. and for the issue OF cir
ilation to the par value of bonds
aposited. not in excess. however. of
e paidin capital stock AS primary :
suits OF this legislation. the author
ed capital stock of national banks
IS been increased TO the extent of
'SS. .1S6 ESQ. or to 1904 4.494.775. and
rculating notes Outstanding. secured :
? bonds. have reached S556.s45,917.
! increaye of s340.57f.I22. The total :
circulation secured by
'nds and by lawful money deposited =
r the reduction OF circulation or on F"
] i