Daily press. [volume] (Newport News, Va.) 1896-current, 1910-12-13
TWENTY SEVEN THOUSAND
FINANCIAL INSTITUTIONS
Combined Capital is Close to $1,000
100000 and includes Deposits OF
Nearly $4,000, 600, coo-oreas In
crease For Past Ten Years-Four
Years.

WASH INGTON, ID. u. Leg. L.
Another year of prosperity and soiid
growth for American banks is re-
corded in the annual report of the
comptrcller Of the currency, pre-
scented 10 congresstoday. Not only
the nationsl banks which come di-
rectly under the control and super
vision of the currency bureau, are
included in the comprehensive re-
view CT banking conditions, but state
banks, savings banks, trust com
panies and other financial insttu-
tions-some 1880 others are repre-
scented.
During the fiscal year of 1910 the
combined resources of the 1000 ma
tional banks of the United States
grew TO approximately S1,000.OVo. 600.
On September l last their loans and
discounts had reached the immense
sum CT $5.400, 600, 000-an amount
never before equalled in the history
OF the national banking system since
its creation in 1864. AT the same
time they were counting nearly $780,
OO0, 900 of overtfrafts in their assets,
practice which there is no law 10
stop.
over $4,000 Banks.
Combining all other banks in the
United States and its island posses
sions with those of the national sys-
TEN and allowing an estimate for
those not reported, it is evident from
the comptrolier's report that the
banking power of the nation has
grown in the last ten years from
1927 Of all sorts of banks. with
capital of sl.150,000,000 and irdi-
vidual deposits of s7,6Ss, 900. 900. TO
more ~ihan $4,000 banks with COM
bined capital close to $4,000, 000, 600
and individual deposits of nearly
SIG 900 100000. The deposits have
more than doubled in little mere than
q decade, and in the same time the
combined loans and discounts have
grown to more than $4,000. 900. G0o.
The volume of business is reflected
in reports which have been. assem-
bled from 1877 clearing. house ex-
changes showing combined clearings
of 1856, ZOO. 900, 900 for he year ended
on September 30. as against $685.
! SOC. 100000 for 1909. With the ex-
cepIion CT Kansas CITY. Neb.: Hous-
ton. Tex: GTeensburg. Pa: Free
mont. Neb.: Franklin. Pa: Colorado
Springs. Gel. and vicksburg. Miss.
the wear showed an increased volume
| Of business transacted. The New
York Clearing House Association rep
resented so per cent. Of the clear
hings OF all associations OF the coun-
try and during the current year has
reached s102, 900. 900 600. some $1,000
GGo COO greater than in 1909. For
those enormous transactions balances
of only little more than $4,000. 000.-
900 wer used.
Four Bank Failures.
Fear actual national bank failures
marked the year. Final settlement
OF he affairs of eighteen insolvent
banks was made in which depositors
received nesrly Sc per cent. These
admins trat;cns were made at an ay-
craze cost Of about per cent. on
collections. From the date Of the
first failure in 1865. 81 national
T, banks have been placed in the hands
cf receivers and - OF them have
have been restored 10 solvency.
More than 5000. 900 in dividends was
paid to dcpositors OF insolvent banks
during the year.
On the whole. II appears from the
report tbst national banking conseTv-
aiively conducted is a profitable on
! terprise. The net earnings Of the
1000 national hanks during the year
were more than si5s.0o5 Go. from
which dividends OF sl0s. 600. 900 were
paid a; tho rate OF more than 70 per
cent. on their capital The govern
ment. too. hes profted from the ex-
istenSe Of the national associations.
for since their beginning II has re-
ceired more than see. 90. ooa. OF
which more than % per cent. has
been fer circulation tax on the bank
notes -hey issue.
Cause 81 Failures.
With the exception OF banks which
have become insolvcnt as result Of
defaIcstions or oibcrl dishonesty.
failures have been almost wholly due
10 Incompetent or reckless manage.
renf. TIC report says. and persist
ent violations Of the national banking
laws and she practices governing con.
scrva:ivc banking
a large percentage n the banks
that have failed should have gons
into voluntary liquidation before they
reached me conditions Which have