The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-08
SECRET REWARDS
A GROWING EVIL
Dishonest Practice of Bank Off
GERS Receiving Personal
Compensation.

Washington, December The gen
eral business OF the country, as re-
Elected in banking operations, was
quite satisfactory" during the year
ending October 81 last, according to
the annual report of Lawrence O.
Murray, Comptroller of the Currency,
submitted to Congress to-day.
Mr.. Murray records q steady growth
in the volume of business and the cs-
tabiishment OF some high records II.
TINS connection. He points out, however
that while augmentinS some or the
important elements of banking during
the year. business did not reach tho
average of increase for he past ten
years.
The comptroller makes the startling
declaration that the dishonest prac-
ticc by officers of national banks of
receiving personal compensation for
loans made By the bank is a CROWN p
evil, and has already reached such
proportions as to call for criminal
legislation on the subject"
In this manner" he adds, either
the bank Is defrauded OF lawful in
tercst which it would otherwise re-
ceife or usurious interest is eXacted
OF borrower by n corrupt officer \
secret reward to the officers IS
sometimes deliberate bribe for OBJ.
tanning loan on insufficient security
! Mr. Murray urges that the taking O;
money or other valuables in this con
nection by bank officer be made an
offensc punishable by Imprisonment In
| the penitcnt!ary.
me aggregate amount OF assets OF
the national banks increased during
the year Approximately s55S,a5S. 900,
or 5.63 per cent. Loans and discounts,
the biggest item in banks resources.
increased only 3.6e per cent In the
lace OF an average ten-year increas Sc
OF 652 per cent
Individual deposits, representing So
per cent. of banks liabilities.
| reached the highest point in history
September l last, S54.4S9,995,Oll This
nigh record, however, was an Increase
OF only 669 per cent. over the previous
years. as compared with a ten-year
average of i.49.
The banking power OF the nation,
including the operations OF every bank
national, State and private-is esti-
! mated by the comptroller at s21,334,-
i56.1eo, an increase during the year
OF S?S5,2l2.i07. or over 10 per cent
The total banking capital is estimated
at S2,o32,4ll.oS5. and the total indi-
vidual deposits at 16,514.73o.351.
The net earnings of the national
banks during the fiscal year ended
which dividends were paid to the
amount OF s1lI,6s5.4l2. or 11.3S per
cent, on the capital. and 6,s3 per ent.
on the combined capital and surplus
Only Three Failures.
Only three national banks were
placed in the hands of receivers during
the year ended October 81
The United states holds the great
est stock OF gold and silver in the
world, according to statistics submit
ted by Mr. Murray for the calendar
year 1910. The total aggregate Of
gold in possession of the principal
countries was $4,000. 100. 900. of which
the United States held S1,7l0 000, 600.
or 26 PER cent, of tho total. The total
supply of silver was $2.599, 500, 900, this
countrys share being 1898. 100000, or
IS per cent.
Mr.. Murray recommends that Fed
cral or State corporations holding
stock in national banks be made liza
BILE to assessment as shareholders. He
also asks Congress to extend TO ton
years the statute of limitations for tho
prosecution of offenses under the ma
tIonal banking laws.