Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1916-01-11
WILLIAMS GIVES
ANNUAL REPORT
To NATIO NAL s


ed in the financial history of any coun-
try" is the way John Skeleton VIII
liams, Comptroller of the Currency,
describes in his annual report to Con-
gress, the operation of the national
banks under his charge, during the
period from October 1914 to November
1915, the first year under he Federal
Reserve system.
Mr.. Williams gives a comparative
statement of the condition of the ma
t.onal banks to back up his statement.
He shows that net resources of the
banks increased in the year $1,743,-
S7S, GAS, that deposits increased 49,
O81 ,53O,164 and that loans and dis
count increased $917 45O,502 Available
cash INCREASED in the same period
1862 100000 and on November 10, 1915,
the reoprting national banks had ex.
cess reserves of 1891 100000. Tables
show the comparative condition of
banks with net deposits of $1,989, 300,-
600 and loans and discounts of $685.
4OS, 4O2 while in November 1915 there
were 1911 reporting banks with net
deposits of $9,O79,471, 447, loans and
discounts of 1928, 92S,973.
THE reserves held by the national
banks November 10, 1885, says the re-
port, exceeded by $587,OOOOO0 the
greatest reserves ever held at any
time prior to the passage of the Fed
eral Reserve act. Loans and discounts
amounted to more than the total loans
and discounts of all banks, including
national, state, savings and private
banks and loan and trust companies
as late as the year l9O2."
Mr.. Williams says that the banking
power" of the United States-the cap
ital surplus, circulating deposits, ETC.,
of all reporting banks, national and
otherwise with an estimate of the fig
ures for non-reporting banks, national
AID otherwise with an estimate of the
figures for non-reporting banks, am
oUnted in June 1915, to $25 ,597 100 900,
All INCREASE in year of about $1,057,-
100000 Savings bank dispositions in
creased by 1926 during the eyar
ending last June with total deposits of
$4,997, 706,013 an increase of eliza
1853. The average deposits however
decreased from S444.36 to S442.83
while the number of banks increased
from 2,100 to 2,159.
The Comptroller's principal recon-
mendation for legislation is for an
amendment to the Bank law authoriz-
ing and directing the Department of
Justice to bring suits against usurers
upon information furnished either by
the Comptroller or through other
sources.
Other recommendations given under
heading ITO Prevent Bank Failures"
proposes: To prohibit officers from
borrowing from their own banks: to
prevent loans to directors except with
the approval of the board; to require
officers and employees to give surety
bends; to limit direct and indirect
loans to one individual, firm or cor
poration; to prevent or limit over
drafts; to require certificates of de-
post to be signed by two directors; to
prevent erasures on the books of
bank; to limit interest paid on depos-
| its; to authorize the establishment of
branches in the United States; to per-
nit branches in Alaska and insular
possessions; to authorize minimum in
terest charges,-which ordinarily
right be usurious-on small loans and
to authorize the Comptroller to bring
proceedings against directors for loss
es sustained by bank through viola
ton of the bank act.
The report renews the Comptroller's
recommendation of last year for other
Legislation, including the giving of
Authority to the Comptroller to re-
move directors guilty of persistent Vi
Oiations of the bank act.
"'RaDlxc " save Mr. williams Nroor1v,