The Detroit times., 1911-12-07
CONTROLLERS REPORT
SHOWS BUSINESS HAS
Been GOOD IN PAST YEAR
Increase In Volume of Business
In Twelve Months, Amounts
to- $553, 1858, 900.
28,551 BANKS IN COUNTRY.
Banking Power Is $21, 1884, 1885,
100, An Increase of
$285,212,4O7.

WASHINGTON. Dec. THE gem
eral business OF the country has been
quite satisfactory in the past year,
according to the controller OF the cur
rency who submitted his annual re-
Fort to congress today. The increase
In the volume OF business, as shown
by the aggregate amount Of assets OF
the banks, was approximately $685.
25S,000, or 6.63 per cent. The princi-
pal assets OF the banks--that is,
loans and discounts, cash, invest
ments In United States and other
bonds and securities-fgure princi-
rally In the aggregate increase, but
the increase In loans and discounts OF
S196.250,435 was only 3.59 per cent,
against an average annual percentage
OF increase since 1901 of 6.52 per
cent. The loans of the banks on
Sept. 1, 1911. 1868 ,073. During
this period the cash In banks in
creased from $500, 6,139,718 to $941, 1884,
369p that is, s45.222,651, or per cent.
The Investments in United States
bonds. exclusive 81 premiums, rNEe-
sented by the securities deposited for
circulation and public deposits and
amount In bank, increased from $740,-
592, 100 to $766,218.220. and invest
nents in other bonds and securities
rose from 1856, 1854, $50 to $1,033,655,-
sos. The aggregate investment in
United States bonds, exclusive Of
premiums, and In other bonds on
Sept. 1, 1910, was $1.6O5, ,646.956, as
against S1,799, ,s73,725 on Sept. 1, 1911,
the increase being $194 4,226.769, or
l21 per cent On the liability side OF
the statement the principal increase
was necessarily In the individual de-
lost account, which rose from $5,-
145, ,658, 1868 to $5.4S9 ,995,012, or 1884,
1876, 644. The percentage OF increase
in deposits was 6.69, as against an
average annual percentage OF In
crease In deposits was $50, as against
an average annual percentage OF IN
crease for the past 10 years OF LAB.
This increase In deposits was attend
ed by an increase In capital stock
from 81 127aKsf2 s,t6s kls025, a., ,sS4,
or $22,706 ,26i j and the sufpfus ana
other undivided profits rose from
1914, ,037, ,76s to 1904. .434,53T, or an ad-
dition OF $30,396.76S.
Confining comparisons to conditions
shown by the reports from Nov. 10,
1910, to Sept. 1. 1911, 1t will be noted
that the number Of banks has In
creased from 1904 to 1901.
The total number Of banks In oper-
alton in the country on June z. 1911,
is show nto be 2S,551, namely, 1877
national banks, 17,115 other reporting
banks, and 4,159 nonreporting banks.
The capital (known and estimated) or
these banks is $2,032.411 ,0s5.56; sur,
plus and profits. $2.105, 5,574,839.70; de-
posits, S16,514,730.351.s1: circulation,
$6S174513 making the banking power
of the United States 21,334, ,456, ,790.07,
an increase during the year OF $780,
212.4O7, or over 13 per cent.
Sixty per cent of the Sit failures
OF national banks have been caused
by violations of the national banking
laws; 23 per cent were caused by In
judicious banking; 13 per cent by
in values and general strin-
gency in the money market, while 4
per cent resulted from the failure or
large debtors and other minor causes.
Criminal violations of law caused
about 81 per cent of the failures, %
per cent being caused by fraudulent
management, per cent by defalca-
tions, and per cent were wrecked
b ythe cashier or other employe. Ex-
cessive loans caused 20 per cent OF
the failures, and heavy investments In
real estate or mortgages about 3 per
cent