Daily capital journal. (Salem, Oregon) 1903-1919, 1914-12-15

unless it shall have a paid up unimpair-
ed capital and surplus Of at least $lOO,
600.
That section 4j94 be amended per.
mittng banks TO invest a certain per-
centage of their savings funds in prime
commercial paper Of short maturties,
also in mortgages ol real estate located
in the bordering states.
That the superintendent of banks be
empowered to appoint one of the exam
incrs us assistant superintendent, VINO,
in the absence of disability Of the 81.
perintcndent, shal have full authority
TO dlfiS the official seal of the depart.
ment and perform any and all other
r'ficial duties of the office.
That special provisions be made for
the disposal OF bank premises which
have been vacated and no longer used
for banking purposes.
That sectA 4j12 be amended com.
biniag the directors January meeting
with that OF the annual meeting and
requiring the cashier S report to be sub
tmittcd at every meeting.
That section 4572 be amended de-
fCriiug the report Of earnings and divi.
dends until after the annual meeting.
While conserving their own re-
sources and getting them in as liquid
shape as possible, the banks generally
have not in any way curtailed the le.
gitmate lines of credit of their Gus
toners, " says State Bank Superinten.
dent Sargent, in his annual report ia
the legislature, the advance copies OF
which were made public last evening
He also reports that, while there has
been a general shrinkage in nearly ev'
cry item of the bank statement since
the last report, October 81, banking
conditions generally throughout th,
state are entirely satisfactory, and the
/ adoption of safe and conservative meth
DDS have been noticeable.
On account OF the peculiar condi
tions brought about by the European
war the department, he says has moi
required any reductions in The bool
value Of securities, the market value.
Of which have been materially affecte,
as q result Of these conditions, but hay,
accepted generally the market yalue
I existing prior to the declaration o.
hostilties. "We believe he says
that we have been fully justified il
pursuing this policy and that any othe
would have worked an unnecessar,
hardship upon the banks at this time.
81 am pleased to report that ther
has been a general disposition or vii
lingness on the part Of the banks {,
clean up, so in spite of the fact th0
there has been a considerable loss II
deposits and profits, the assets hayI
been placed In satisfactory condition
through the elimination Of the bad an,
doubtful items. Banking condition
have also been greatly Strengthens
duriug the year through consolidation.
reorganizatOns and transfer Of busI
ness.
The report shows that at the date o
the Iast official call, October 81, ther
were 70 state institutions under th
supervision Of the department with tC
tal resources aggregating $6i ,022 ,00O.0i
being a gain Of six In the number o
banks and loss Of 80, 1863, ,076.7O in tC
tai resources. Total deposits in stat
q banks at date Of the last call, exclui
i've Of postal savings deposits, amount
ed TO s5O,252, ,9l53G, while the totr
cash and balance due from other bank
was $l5,7317dg, giving an average n
serve Of little over 81 per cent. I,
tai deposits compared with correspon,
q inc 4tntpnent Of October 81. 1918. sho,
= decrease Of 80, l9S, s92.Gs, about $500
Of which is accounted for in the eco
solidation Of the Security Savings
Trust company aud the First Nationi
Bank Of Portland.
He calls attention TO the fact tbs
e siK applications for the organizatio
. Of new banks in the state have been n
g fused during the past year because III
9 field was either already sufficient
!, served or the business to limited I