The L'Anse sentinel., 1915-06-12
MILLIONS GAINED
BYlSTATE BANKS
REPORT BY ssIoNER
sHoWs s1s,2sf,4ss lNcREAsE
IN THREE MoNTHs.
SAVINGS DEPOSITS ALSO GAIN

Advancement From March 4 to May I
eIossst In the History Of the
Michigan Banking De-
partment.
Lansing.-The 466 state banks and
six trust companies in Michigan show
gain Of $13,251. .4S9.90 in aggregate
business from March to May Of
the present year, and calamity howl
ers need to take notice, for this gain
marks the greatest increase In Michi-
gan banks for like period In the 26
years history of the state banking de-
partment, or since the department was
created.
That prosperity is apparent in the
state is also evidenced by the fact
that at the close of business May l.,
deposits amounted to 9.188. .197. SO.
divided as follows: Commercial de-
posits. subject to check, $104,351. .004-
go; commercial certificates of depos-
1t. $20.738.605.61; savings deposits,
$1S7 PIT .664.94, and savings certifi-
Gates Of deposits. $46,320,922.44. In
addition to this amount the 466 state
banks and six trust companies have
state money on deposit amounting to
$4,759,466.06. and postal savings de-
posits of s6S3, ,SS0.16, making grand
total in deposits of $364,611, ,533.S1.
The report of Banking Commission
er Merrick also shows that. compared
with the report of March 4, 1915. or
less than two months period. there
was net increase in loans of $685.
695.12, while deposits for the same
period increased $11,394, 1885. The
Increase in loans was made up as fol-
lows: Loans and discounts CONNER
cial), increase. $4.289, ,563.95; loans and
discounts (savings), decrease, $97,-
969.38; bonds and mortgages (com-
merciaD, increase, 1886, ,765.04; bonds
and mortgages (savings). increase, $3.-
| 439,335.51.
However, the two months compari-
son which marks the time since the
last report was made, is not by any
means the only favorable showing. for
Commissioner Merricks report, also
makes a comparison with the report
of June 80. 1914, or ten months
period. This comparison shows a
total increase in loans of $16,400,-
689.24 and total increase in deposits
amounting to $18,365, ,206.85. For this
period loans and discounts showed an
increase of commercially $4,000. SOL
.22; loans and discounts (savings), in
crease Of $S92,256.79; bonds and mort
cages (commerciaD, increase Of ST.
735,S92.32 and bonds and mortgages
(savings), increase $10,271 .857.91. For
the same period commercial deposits
increased $9,754, ,S02.19, while savings
deposits increased $S,610,404.66.
Capital stock increases for the ten
months period amounted to $1,066.-
900.
The total reserve maintained by
Michigan state banks and trust COM
panies on May 1, 1915, was $80,8S5.-
623.21, or 21.26 per cent. The total
cash reserve amounted to $23,053.-
651.10, or 6.61 per cent. These re-
serves are divided as follows: Com
mercial legal reserve, $39,458,3s8.44;
commercial cash reserve. $11,S52,-
91S.93; savings legal reserve, $41,427,-
134.77 and savings cash reserve, $13,-
| 200,722.17. Therefore the total reserve
carried by the state banks Is $780,
05,10736 over the requirements of
the banking law.
Based on savings deposits of 1884,
09S, ,587.38, the law requires mortgage
and bond investments of at least $115.-
602,S71.56. The report shows that the
mortgage and bond investments ex-
ceeds the requirements Of the law by
$43.932, ,2S462.
During the period January to May
26, the present year, seven new banks
have been organized in the state as
follows: Peoples State bank of Mid
dleton, capital stock $4,000; Crosse
Pointe Savings bank, Crosse Pointe.
$4,000: the Otsego County State bank,
Gaylord. $4,000; the Farmers and
Merchants State bank, Carson City,
$25,000; the Mcpherson State bank.
Howell, S150,000; State Bank Of Trout
Lake, $4,000, and Berrien County
bank, Benton Harbor. $4,000.
Additional prosperity is shown in
the number of state banks that have
Increased capital stock since the first
OF the year. They are as follows: Old
State bank. Fremont, $4,000 to $780,
600; First State bank of Alma, $4,000
to $4,000; Citizens Savings bank.
Owosso. $4,000 to $4,000; Alma Saw
ings bank, Alma, $4,000 to $4,000;
Old State bank, Fennville, $4,000 to
$4,000; the German-American bank.
Detroit, s250.000 to 100000; the Bay
City bank. Bay City. 100000 to $780,
900; the Bay County Savings bank.
Bay City, $4,000 to 100000.
interpretations.
Kuhlman Electric company. Bay
CITY * 0(0