Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1913-01-03
NAG MORE FINANCIAL INsTlTU.
TUTIoNs THAN ANY OTHER
sTATE IN UNION.
YEAR SHOWS INCREASE IN
NUMBER AND Deposits
Moro Than 800 Private Banks, Which
May % Placed Under State Control
~ Proposed Law-Intsrsstins Dis.
closures in State Auditors Annual
Report.

Des Moines, Jan. 3.-That Iowa has
more banks than any other state In
the union is one of the interesting dis
closures made in the forthcoming an
nual report of the state banking de-
partment, which will soon be issued by
Auditor Of State Bleakley. This re-
port. compiled by Chief Clerk Clark
b. Ellis, shows there are in Iowa
total Of 1,7Gs financial institutions.
In view of the recent agitation Tor
examination Of private banks for
which 4 measure will be introduced
in the legislature, probably by SEN
ator Weber OF Ottumwa. it is inter-
esting to know that this latest official
report will show there are in Iowa
sos such institutions. Under the law
A it now stands these banks are SUD-
iect to no state supervision Whatever
Senator Weber and others would put
them on the same basis as state banks.
To Change Private Status.
While an effort Is being made to
put private banks under supervision
movement will also be made IN the
legislature to increase the Worklns
force in the bank examiners onice SO
that more thorough examination can
be made of the banks already unoer
the thumb of the state. With the SIX
examiners now employed it has eeen
impossible to examine the banks OF
tina state more than once a year ana
despite the efforts Of the field FORCES
too hanks this past year were not eA-
.mired at all. Minnesota and many
other states provide force so ina,
everv bank is examined at least twice
. year.
That there should be more exam
insrs without cost to the taxpayers Is
urged. At present the fees 1ro'i
banks under state supervision orins
into the state treasury $21,ooo. Inc
department Is now paying slo,eeo an
nually to examiners and so,0oo lot OF
ace expenses. This leaves a net prom.
from the department to the staee Oh
* 200. enough to hire two more exam.
inerx and pay both their salaries ano
travelling expenses. Then II the Sos
private banks are put under STATE su
nerviston this viii bring an additionu
revenue OF about $500 or enough 10
hive another two or three examiners.
The department will ask the leglsiat-
nra to provide four or Ave additional
examinsrs and such will not draw on
state funds outside the revenue OF the
department.
BIG Increase Shown.
The forthcoming report VIII sno"
that during the past year there mas
been a net increase IN the number Oh
banks Of thirty-fve and an increase III
deposits Of 31s2.424,s $685..
The department has Just com piieu
tho reports called for the close of busi-
ness Nov. 2e and the 73s savings banks
orr state banks and fifteen trust COM
panies reporting show consoiloa.eu
resources Of s34e,s17, 4s1.Ss. or an m
crease over September Of s1,ol '.o4e'9i,
A compared with the September can
there was decrease in deposits OF "
5s4s2e3e and an increase in overdra1's
Of $220,202.22.
The capital stock Of the banks re-
nort;e amounted to s3s,71s,3o0 with
surplus Of ss,722.012,03 and undivided
profits Of ss,2s7,373.25.
The total deposits in these osnAs
amount 70 s2s5,2ss, 72s.77. The total
amounts Of loans and discounts
amount to s2s3,72e. 7ss45, an increase
over the September call OF s1o,7os'-
9s1.77.
The average reserve on Nov. IS was
176 per cent,