Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-02-20
BANK DEPOSITS
AND RESOURCES E
GAINING SLOWLY
Below Average in 1910, Says
Commissioner Lewis in
Report.
Especial to the Newark start

l5peciHl 10 tne ceWdIk Staf.I
TRENTON, Feb. 20.-Deposits in all
the banking Institutions of New Jersey
at the close of 1910 amounted to s45S.-
1853, 500, according to the annual report
of Banking and Insurance Commits
sioner Vivian M. Lewis, made public
today. The resources of all the ins5i-
tutions reached the enormous total Of
$613, los, 500, and the combined capital
aggregated $40, SIC, $50. These figures
include the national banks in New
Jersey, for the sake of showing the
grand totals, although Commissioner
Lewis has no Jurisdiction over the
national banks.
With the census of 1910 as a basis,
the report shows that for zach in
habitant in the State there was s1S0.e
on deposit In the various financial in-
situations Of the State, excluding the
national banks. The gains in our
and deposits Of domestic banking in
stitutions are much below the average
of recent years, exhibiting a marked
falling off as compared with the results
in 1909.
Growth slow, But Healthy.
During the year 1910 the total re-
sources increased only 8 per cent, and
the deposits slightly more than 2a per
cent, while in 1909 the resources In
creased nearly IL per cent. and the de-
posts 10 per cent. Mr.. Lewis shows
that, although the rate of in
former years has not been maintalned,
the institutions under his supervision
have shown a healthy growth COM
mensurate with the business activities
of the year.
The deposits OF the State institu-
lions, including rs savings banks, So
trust companies and 10 State banks.
amounted to $3.50, 955, 399, and those of
the national banks 8 3 ,16s. 408, 298. Tho
resources Of the State institutions ag-
gregated 1888. 454, 944, and those OF the
national banks 1854, 853, 6e6.
Three Glasses of Deposits.
The deposits In the State institutions
were divided among the three classes
as follows; Trust companies, $169, $685.
673; savings banks, S105. 228, III; State
banks, $14, 1888, 565. The Of tie
same institutions shows the following
divisions: Trust companies, $685. 766. 916;
savings banks, STA, 023, TAI; State banks,
SIS, 664, 837.
The number Of depositors in the av-
ings banks and trust companies was
7O6, S64, an increase Of 40, 06S for the
year The savings banks had 300 o6+
depositorS, an increase of 43,o6S fer
the year. Depositors In saving banks
aggregated 800. 1854. an increase Of S,S5S,
and those in trust companies Se9, $50,
an increase 1910.
Warning Asainst Big Interest
Commissioners Lewis, commenting
upon the situation disclosed by the re-
ports from the savings banks, sounds
a warning against the tendency to In
crease rates of interest to such ar ex-
tent as to entrenoh upon the margin
of assets over liabilities which should
be maintained, he holds, at an amount
adequate for the protection Of de-
positors at all times.
Average Interest Rate.
The average rate of interest paid de-
positors for the year was within a very
small fraction of 8a per cent.
The report shows that the total profits
OF the trust companies for the year
amounted to 81, 107, 705. SO, an increase Of
S176, 545.24 Total expenses were f3,-
1877, ee7. rs, an increase of 1929, SAG. 20. In
terest paid to depositors was $4,382.-
644.19, an increase of 1912, 1914. Divi-
dends to stockholders amounted to 81
$50. 750, an increase Of $50, 900. The total
amount of deposits bearing interest,
$151, b23 1913, showed a decrease of
$646, 069. "a. Commenting upon the
operation of the trust companies Com
missioner Lewis said:
Feel National Bank Competition.
OF the showing made by the nineteen
State banks still In operation Mr.. Lewis
said:
1.-THE returns Of these banks present
but little change from year to year.
Very few of them have been incor-
porated within the past decade, by far
the creator number of new domestic in
stitutions being trust companies. The
competition of the latter n of the
national banks, which are constantly
increasing in number, has been such
that the State banks al a body W
not been able to do much more than
hold their own. The exhibit of the
condition of the institutions as a whole
is an excellent one, according to con-
servative banking standards"
Commissioner Lewis urged that ade-
quate provision be made by the Legis-
lature for the supervision of persons
and corporations engaged In transmit
ting money to foreign countries.