The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1914-12-12
9BUk REPORT IS
lssuEDBY DOYLE.
MICHIGAN BANKING COMMISSIONS
81 MAKES HIS QUARTERLY
STATEMENT.
BUSINESS SHOWS DECREASE
tais on to the Extent Of Ss,1s6. os7
n Four Notwithstanding the Same
Period, Loans Increase
sees, es4e6.

LAnsing.-The 461 state banks and
six trust companies under the super
vision OF the state banking depart.
ment show loss OF 1886. 0s7.75 in
aggregate business since the last re-
port Of the state banking department.
september ~. 1914. according to q re-
port issued by State Banking Commits
sioner T. H. Doyle.
For the first period there was a net
increase In loans amounting To $685.
6S4.66. and net decrease In deposits
amounting to $5,1S7.59S.ss.
The report issued compared with
the report Of October 81. 1913. which
Il. the report nearest the year period.
shows q net increase in loans OF $22,-
6iS.147,25. with total increases in de-
posits amounting to $19.1s5.45s.72.
The present report shows. In com
parison with the report issued Sep
TENDER IL. that loans and discounts
tcommercial) decreased $668, 440.82;
loans and discounts (savings) In
creased $1.1s3.7S8.3s; bonds and mort
cages commercially decreased $685.
70A31. while bonds and mortgages
(savings) increased $1,000, 051.41,
making the net increase in loans OF
$985.694.66.
For the same period commercial
deposits decreased s6.570,69466. while
savings deposits increased $685.
o00.67, a net decrease in deposits as
above mentioned OF 1913, $3.50. The
showing. however. of less than three
months period can hardly be taken as
fair average, and an analysis of the
report Of October Fl. 1918, nearer the
year period. is here given. For that
period loans and discounts (commer-
cial) increased sS,239, 096.36; loans
and discounts (savings) decreased
$1.646,979.1S; bonds and mortgages
commercially increased $685.. 019.9S,
while bonds and mortgages (savings)
increased $10.634, 01O,72. a net in
crease in loans of $22,619,147z5.
Commercial deposits increased for
the same period $12.460.3S4.9S. while
savings deposits Increased $685.
O74.74, a net increase in deposits Of
$19,135, 459.72.
The total reserve maintained by
Michigan state banks and trust COM
panies on October 81. 1914, was $67,-
100,430.51. or 1875 per cent. The to-
tai cash reserve amounted to $25.794,-
359.25. or 721 per cent. These re-
serves are divided as follows: Savings.
legal reserve. ss3.451.11634 or 1928
per cent: savings. cash reserve. $13.-
0.f96.09. or 6.17 per cent; CONNER
cial. legal reserve. $30.649.31417. or
22.SS per cent. and commercial, cash
reserve, $11,964.154.16. or 500 per cent.
The total reserve carried by Michigan
state banks is. therefore. $1O.t3O. 1909
over the requirements OF the state
banking lazy.
Based on savings deposits OF 1928.
S62.333.73. the law requires mortgage
ana tond- investments OF at least $112.-
446, 1908. The above figures show
that the mortgage and bond invest
ments exceed the requirements of1the
law by $42.770.017.79. The savings In
vestments, together with the savings
reserve, exceed the savings deposits
BY sS.662.114.02.
Since the first of the year the fol-
lowing IL new banks and their capital
stock have been organised in the state: