Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-10
S34.72 Per Capita Circulation
in Bank and Pocket.
TREASURY HAS SOME MORE
Banking Power of United States Is
$17,e42, 705,274.
OVER THIRD OF WORLDS CASH
Controller Murray's Annual Report
Sent to Congress-Conditions Of
Fiduciary Institutions.

INC annual report l]aWTeuCe W. Mui
.ay. controller of the currency. made to
congress December {. includes statistical
and general information in relation to the
condition OF national and other banks at
date of latest returns, the figures relat-
ing TO national banks being taken from
reports to the controller of the currency
under date of September %. 1908. when
there were in operation 6.s5S associations.
with paid IN capital stock of 1927, 463. 172.
circulating notes outstanding $613726. 155,
and individual deposits OF $4.54S. 135. 49,.
Loans and discounts amounted to 81, $780,
6l2 1911; and the banks held In their
vaults gold and silver to the amount Of
$3.50. 1s5. 500. and legal tender notes. $685.
23s,51J The aggregate resources Of the
banks on the date in question were $9,O27,
26o.4S4. In addition to the paid in capita.
stock of national banks Is the stockhod-
ers' liability, amounting to 1921 4G3, 172.
The surplus of the banks is $685. $50. 2O7.
and their undivided profits 500. O99, sol.
Thus the capital. stockholders Liability,
surplus and other profits aggregate
S2.61O So, 1852. or over one-fourth OF the to-
tai liabilities of the banks. 1t is esti-
mated that there are about 10000 share
holders in national banks.' and that the
affairs of the associations are managed by
approximately $1,000 directors. The con-
troll er estimates the number of depositorS
i'll national banks at $500, 0OO-
The authorized capital stock of the ma;
tional banks October 81, 1907. amounted to
5000. c74,7 75 since which date there has
been an addition of Sc, s23 600 from banks
organized during the year and 6OS0. 900
from increases of capital Of pre-existing
banks.
The losses were as follows: BY volun-
tary liquidation. s11.O4O.0O0; by expiration
Of charters. 81 $4,000 by failures. $656O.-
100 by reductions of capitalization of old
banks. S1,1i2 These changes show an
apparent increase of capital during the
wear of S21 ,03O, 200, but this amount in
cludes the capital Of a number of asso-
Citations closed voluntarily or otherwise.
the stock accounts Of which have not
been closed on the books of this Office. the
amount SO represented being $2,Os5,0O0.
Banks and Capital.
There are ISIS national banks, with
capital of 1900 each; 2116 with capital
of over 900 to $4,000 Inclusive; 1923,
with capital of over $4,000 to 100000 IN
elusive: 757 over 100000 to $3.50, 600: 476
over S250.OOO to 81 10000; 60 over 81 Co.,
700 to $1,000 900, and with capital Of
over $5,OoO.OOO
From the date of the first issue of ma
tional bank circulation, December H. 1853.
to October 81, 1908, notes were issued to
the amount Of S4.172. 614.94 of which
s. SOC. 769, 95S have been redeemed. leav-
Ing outstanding $685., S44. $751; In the year
just closed the issues amounted to $751;
OH, 40. an amount exceeding by $l3O,S9S-
600 the sum issued during the year end
ed October 81, 1907.
In March. 1900. circulating notes out
standing, based on bonds deposited with
the Treasurer of the United States in
trust. represented 80 per cent Of the maxi
mum issuable. while October 81, 1908, the
amount Issued was nearly 20 per cent OF
the maximum.
Consolidating the reports Of earnings
and dividends for the year ended July 1.
1908. on an average capital and surplus
of 1898 932. O1O and S54S. $50, 476 respective
~, the gross earnings are shown to be
$50. 454 COZ; losses. ETC.. charged off. $780,
J6S26J, and expenses and taxes paid
S1Jo.551, 049. leaving net earnings of $131.-
,2SS. The aggregate amount of divi-
dends paid during the periods was $97,
:;;36, Do. an average of 1889 per cent.
The direct money receipts from national
banks by the government of the United
States are represented by the taxes paid
on capital to June /. 1883, and under the
war-revenue act Of 1898: on deposits to
June ]. 1888 and on circulating notes to
June 80. 1905. exclusive of interest paid
on public deposits under the act of May
20. 1908. In addition to the foregoing, the
banks have been assessed for the cost Of
redemption of circulating notes. plates
from which circulating notes are printed,
and examination fees.
The taxes paid aggregate S1SO.472,155.94.
The expenses of the currency bureau, in
Guiding amount appropriated and all other
expenses estimated from 1863 to date, is
stated at $22.SS4 .46. This shows that
the banks have paid to the government
over and above the cost of the operation
of the currency bureau, $157 So. 59s.4S.
During the existence of the system, ma
tional banking associations to the number
OF 9.263 have been chartered. of which
6S7a are in existence, $3.50 having been
cIn Of rx-ht <l. 4 ;r1
voluntary liquidation, ia closed by eX-
piration of corporate existence, and 476
terminated by insolvency. The number
OF banks chartered include, 1.437 banks.
with capital of 1915 2Oo. 32S, which were
converted from state banks under author
ity Of section 5l54 of the Revised Statutes.
New Banks Chartered.
During the past twelve months 32S
banks, with authorized capital of $22,-
nnb uera cbartered of which 1Qi