The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1913-03-22
MICHIGAN BANKS
SHOW. INCREASE
TRUST COMPANIES ARE iNcLuD.
ED IN REPORT BY COMMITS
SioNER {. n. DOYLE.
TOTAL GAIN IS s4,835, 9O7.11
Reserve Maintained by the Four Hun
dred and Forty-SIx Banks and
Five Trust Companies 10
$63,37o, $780, SO.


Lansing Michigan state banks and
trust companies show gain of $4.-
1886, 907.11 in aggregate business since
the report Of the state banking COM
missioner issued November 26, 1912.
These figures are given in a re-
port OF the 446 banks and five trust
companies doing business in Michi-
gan, issued by Commissioner e. H..
Doyle. The report shows the condi-
ton at the close of business Febru-
airy 4.
The loans and discounts of the
| commercial department amount to
| $1O2. 866,719 while the loans and
discounts of the savings department
total $42,477,24424. The bonds,
mortgages and securities OF the
commercial department amounted to
$1S,957 15O,43, and of the savings de-
partment $136,695,2 20.41.
AS compared with the report Of
November 26, 1912, there has been
an increase in the commercial de-
posits of $4,010,969.72, while the saw
| ings deposits have increased $2,2S5,-
605.57 In the same time. BY CON-
| pairing the last report with the sta
tistics compiled by Banking Commits
sioner Doyle year ago, an Increase
OF $14,052,747.23 is shown in the saw
ings deposits and an increase of S.
| 420.9017S in the commercial ac-
| counts.
In the last year there have been in
| creases in capital stock of the vari-
| Gus state banks to the extent OF
| $2,49s ,206.52. Since the report OF
| February 20, 1912, the commercial
loans and discounts have increased
| $40 0SS,9SS.67, the savings loans and
discounts $1,746.230.26, while the
commercial bonds and mortgages
have advanced $3,970,242.24 and the
savings bonds and mortgages $751;
| 1859, S33.6S.
The total reserve maintained by
Michigan state banks and trust
companies on February 4, 1913, was
s63,370, 3S2.66, or 19.47 per cent. The
total cash reserve amounted to $22,-
64S.7S1.61, or 6.93 per cent.
These reserves are divided as fol-
lows: Savings legal reserve, $685.
102,27S.S3, or 1876 per cent; saw
ings cash reserve. $l2,246,933.95, or
5S5 per cent; commercial legal re-
serve, $2S,26S. 1888. or 24.37 per
cent; commercial cash reserve, $780,
301.S47.66, or SIS per cent
The total reserve carried by
Michigan state banks is therefore
$12,065, 49S09 over the requirements
of the banking law.
| Based on savings deposits of $209,-
41S,012.62, the law requires mort
gage and bond improvements of at
least $1O4,5S9,4 4O2S The report
shows that the mortgage and bond
investments exceed the require.
ments of the law by $32, 1903
The savings investments together
with the savings reserve. exceed the
savings deposits by 4,s56,73O,S6.
Bill stirs Up Trouble.
! II Senator Allswede can so amend
and broaden the trunk line highway
bill as to cover practically every road
in every county OF the lower PENN
sula, he might be sure of unanim-
ity Of support that would assure its
passage.
But the senator Is finding 1t a
hard fight to satisfy 80 senators and
100 representatives without meeting
the wants of the scores who focked
here for a hearing, and already the
| measure has been so overloaded to
meet added suggestions that 1t may
fail from sheer exhaustion, 1t Is said,
because 1t has to carry too great a
| load.
| The browning blow came when a
delegation came to the public hearing
In the senate and favored change
In the central meridian north and
south highway which would take the
road out of Senator Allswede's home
village, Sanford.
This proposal urged by Mount
Pleasant, Clare, Gladwin, etc,
would entirely skip Midland county,
and It met with roar of protest.
| The Mount Pleasant folk wanted to
have the road continue north from
Alma to Mount Pleasant, then to
Glare. Gladwin and over to the
meridian line. Under the proposed
plan 1t cuts east from Alma and st.
Louis to the meridian. and then goes
north through Midland and particu-
larry through Sanford. where Senator
Allswede. author of the trunk line
road bill, makes his home.
Nearly fifty attended the meeting.
Charity Workers VIII Meet.