New-York tribune., 1909-12-11
REPORT ON BANKS
EARNED 1913, ,OOO, 900.
Controller Finds 1mpie Secu-
1ty for Emergency Currency.

Washington, Dec. 10.-More than twenty
five million deposit accounts are carried
on the books OF the banks of all classes
I'm the United States and it's insular pos
sessions, according to statements con-
tained in the annual report of Lawrence
q. Murray. Controller of the Currency.
laid before Congress to-day The aggre
gate deposits on April IS. 1909. were about
slt.i25.523 los. The sum Of s5s7s. 73j.379 rep
resented savings deposited by 14,s9t,696 de-
positors. The average rate of interest paid
by national banks on savings accounts was
3-3i per cent; by state banks. S.7l: NUT
ual savings. 3S5: stock savings, $50; pri-
vate banks and loan and trpst companies
paying the same average rate. 343 per
cent
Loans and discounts. United States bonds
and lawful money represented approxi-
mately 20 per cent of the aggregate re-
sources Of national banks. and a like pro-
portion Of liabilities is represented by
capital. surplus and profits and individual
deposits. The Controller figures that. as
sumng the character OF bonds owned by
national banks 70 be I'm accordance with
the requirements of TIE act of May 20.
1905, the amount is more than sufficient as
security for the emergency currency.
amounting to s5NO.OOO.Oeo. authorized by that
law. Holdings of bonds and other similar
securities by national banks on September
showed investments of this character
amounting 10 SS9S, ,3Ss.542 The interesting
fact is disclosed that 800 c0.Oo0 is in for
eign government and other bonds and Sc
curities
Based on the latest returns. the Con-
trOller saws the lending power of the
national banks has been increased. as a
result of the law of June. 1906, to the ex-
tent of 81 per cent although. with sur
plus twice as great as the capital of the
banks. the authorized increase is 900 per
cent The law referred 70 increased the
limit of the liability 10 banks from 10
per cent of paid-in capital stock to 10
per cent of the capital and surplus, the
total however not to exceed 81 per cent
of the capital stock.
Because of the depreciation in the mar
ket price of government bonds in the
year, the computed profit on the issue or
national bank circulation increased slightly.
The gross earnings Of national banks in
the year We're SS4S.674.355, from which
losses and premiums were charged off to
the amount of S+.45S.7O5. being lie per
cent Of the gross earnings, and $l71,oS4.Sss
expenses and taxes. the net earnings being
Sl3l, ,1Na. tie, from Whlcn OlNluenuS dihouht-
ing to So, ,993. i49 We're paid.
Last April i'm round amounts the national
banks held 81 S26oO0.0O0 individual deposits;
savings banks. S5.7l3.0OoOOo; loan and trust
companies, 50, ,s25 coo0oo: state banks. s2.46e,-
o0o000. and private banks. slsS.oooco0. Geo
graphically the individual deposits reported
by banks in the Eastern States aggregated
sS,O47 o0O.eO: i'm the New England states,
s.. 10s 000 o0o: in the Middle Western States,
81 196 000, 900; IN the Southern States, H,O5s,-
000OO0; in the Pacific States. n@o; In
the Western States. s70NON0,coo. and s2s.Ooo.-
01o I'm the island possessions
Banks i'm the New England States held,
in round figures. SIS 10000 in actual cash;
those in the Eastern States. S716, 1000; in
the Southern States. S1O5. 500 O00; in the Mid
die Western States. 1878. 10000; in the West
ern States. 81, COO in the Pacific States.
$50 6lo00O and tho banks of the island pos
sessions. $4,000.
The banks Of the country have increased
their loans since 1908 by $685. 10000. from
$40 ass Oo0 I'm 1878 to S1l.373 10000 in 1898.