The weekly chieftain. [volume] (Vinita, Craig County, Okla.) 1905-1913, 1911-12-15
CORRUPT BANKERS
HIT BY OFFICIAL
Growing Evil, He Declares in His An
Annual Report-Growth in Bank
ing Not Up to Average.

Washington, ID. C. Dec. S.-Impris-
onment in the penitentiary as punish
ment of bank officials who accept
commission or other personal COM
pensation on loans made by their bank
is recommended by Lawrence o. Muir
ray, comptroller of the currency, in
his annual report to congress, publish
ed today.
The dishonest practice by officers
of national banks of receiving per-
lsonal compensation for loans made by
the bank is growing evil and has al
ready reached such proportions as to
call for criminal legislation on the
subject" says the comptroller
I'm this manner either the bank is
defrauded of lawful interest which it
would otherwise receive, or usurious
interest is exacted of borrower by
corrupt officer. A secret reward to
the officers is sometimes a deliberate
Ibribe for obtaining a loan on INSULT
cient security"
Mr.. Murray urges new laws for the
punishment of the offense
The report shows tnat the banking
business of the United States made a
substantial growth in the past year,
though the gains made were not up to
the average annual increases of the
past ten years.
The aggregate amount of assets of
the national banks increased during
|theyear approximately 1858, ,25S,0O0, or
5.63 per cent Loans and discounts
increased only 3.59 per cent in the
face of an average 10-year increase of
.6.52 per cent. Individual deposits, rep
resenting SO per cent of bank liabili-
ties, reached the highest point in his
tory, September 1, LASTS, 1895, oil.
This high record, however, was an in
crease of only $50 per cent over the
previous year, as compared with a
10-year average increase of 7.49 per
cent.
Banking Power II Million.
The banking power of the nation,
including national, state and private
banks, is estimated by the comptroller
at $21, 1874, ,456,7 100, an increase during
the year of $685., 5,212, ,407, or over 1.S
per cent. The total banking capital
is $2,O32, All ,0S5, and the total indi-
vidual deposits are $16,514,730,351.
The net earnings of the national
banks during the fiscal year ended
June 80 last were $156,9S5,513, from
which dividends were paid to the
amount of $114,6S5,412. or 11,3S per
cent on the capital, and 6.SS per cent
on the combined capital and surplus.
Only thre national banks were plac-
ed in the hands of receivers during
the year ending October 81.
Greatest st cks of Gold And Silver.
The United States holds the greatest
stock of gold and silver in the world,
according to statistics submitted by
Mr.. Murray for the calendar year
1910 The total aggregate of gold in
possession of the principal countries
was $6,604 100000, of which the Unit
ed States held LILO million dollars,
or 26 per cent of the total (The lat
est treasury report shows 1,797 mil
lion dollars OF gold in the United
States) The total supply of silver
was 1899 100000 this countrys share
being 729 100000 million dollars, or 2S
per cent.
Mr.. Murray recommends that fed
eral or state corporations holding stock
in national banks be made liable to
assessment as shareholders. He asks
congress to extend to ten years the
statute of limitations for the prosecu-
tion of offences under the national
banking law.