Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-12-14
BANKS ARE THRIVING
Controller OF Currency Shows
General Conditions.
SUBMITS ANNUAL REPORT
Power Of Institutions Shown to Be
42e,Ns, 7o7y 600.
DIVIDENDS ARE ENORMOUS
National Concerns Pay Out $780,
900, 672-Average for Forty
Three Years Given.
DIVIDENDS ARE ENORMOUS

Business in general, as reflected in the
condition Of the banks of the United
States. has shared in the country's pros
perity. according to Lawrence o. Murray
in his annual report made public today.
The banking power Of the nation. rep
resented by capital. surplus. profits. de-
posits and circulation. reached during the
year the enormous total Of $22. 54S. 7O7 600.
a high record. showing an increase of
$50 per cent over 1911 and 27.S over 1905
Since 1900 the banking power has in
creased Ill per cent, or more than dou-
bled. During the last twelve years the
number Of banks has increased by over
1O1 per cent and their volume of business
crease Of over 127 per cent.
The controllers report consists of
mass Of statistics with analyses. most of
which previously have been published.
Rates on Money.
In connection with the rates on money,
which recently have been soaring, the
controller simply observes that the rates
were normal up to August with tight
ening of the money market thereafter.
According to the hast condition report,
September 4. the controller points out
that New York and Chicago were slightly
deficient in the amount of their legal re-
serves and st. Louis slightly excessive.
Banks In the major portion Of other re-
serve cities were also slightly deficient,
but the country banks maintained an ex-
cess Of the legal requirements.
Less than 20 per cent of the total
amount of national bank notes which the
national banks might circulate under the
law has been issued Based upon the
crease their circulation by 1921, 1921. O6O,
Mr. MURRAY saws,
The national banks. the report in
dictates, hold over 80 per cent of the bond
ed debt of the United States in the way
of security for circulation and public de-
posts and as investments.
During the fiscal year 1912. the national
banks paid dividends aggregating $l2O.-
3OO.S72. or 11.66 per cent on capital and
6.93 per cent on capital and surplus COM
were equivalent to $50 per cent of the
capital and surplus. During the last
fOrty-three years the banks have paid an
average annual dividend Of 9.17 per cent
on the capital stock.
Eight national banks, with an aggre-
gate capital of $1.1OO.OOO. failed during
the year ended October 81, while eighty
three national banks, with an aggregate
capital of $21. COS. 80, were placed in
voluntary liquidation.
Concerns in District.
Regarding banking and banks in the
District Of Columbia the controller says:
I'm addition to national banks and the
loan and trust companies, organized I'M
der authority of the act Of 1890. the act
of June 25. 1906 places under the super
vision OF the controller of the currency
all other banking institutions organized
under authority Of any act Of Congress
to do business in the District of Column
b1a, or organized by virtue Of the laws
OF any OF the states of the Union and
having an office or banking house located
within the District of Columbia where
deposits or savings are received. The
supervision In question extends to the re-
Quirements applicable to national banks
with respect to reports OF cOnd ton, earn
ings and dividends. and examinations 1t
Is further provided that the controller
shall have power when, In his opinion 1t
Is necessary, to take possession of any
such banking institution for the reason
and IN the manner and to the same ex-
tent as provided in the laws Of the United
States with respect to national banks.
including one savings bank recently
opened. but from which no report has
been received. there are fifty banking in
situations in the District of Columbia,
consisting Of eleven national banks, six
trust companies. thirteen savings banks
and twenty building and loan associa-
tions The aggregate capital of these
banking institutions September was
Of 1905 1873 The total individual deposits
were So. PIT 400. an increase of $8O21, sos
The number. capital. individual depos-
Its and aggregate resources of each class
OF financial institutions doing business in
the District of Columbia September 4.
1917, are shown in the following table:
Individual Aggregate
Number Capital deposits resources.
National
banks IL s6.1O2.00O $25. 995. sla $50 712 s62
Loan and
trust
co m
panies. S,65S,326 32,534,7O4 47946 OO2
s ings
banks. II 1901 $50 8,0O6. 3l2 10 6IS 752
B Hiding
and loan
aSsocia-
tions... 20 H,77S.531 17.lGO 293
on