Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1916-01-26
STATE BANKS IN
GOOD CONDITION
Banking Commissioner A. E. Koult
Submits Annual Report.
BIG INCREASE IN RESOURCES
Statement of the Wisconsin OFFICIAL
Shows Gain Of $780, 1876 Over
One Year Ago-Would Curb
Bio Borrowers.


Madison.-State Banking Commits
sion A. e. Koult filed his annual re-
port on banks in Wisconsin with Gov
ernor Philip. The commissioner SAID
in his report that the condition OF WIS
consin banks was gratifying.
There are 688 state banks, four mu-
tual savings banks and fifteen trust
companios doing business under the
Wisconsin state laws.
The aggregate capital investment OF
these institutions or November 10 last
was $22,89S,250, which was gain OF
81 ,078, 300 over that during the 'preced-
ing twelve months The total resources
of the institutions were 1888, 941, 92S,
an increase of s15,3S0, 1875 for the year.
The commissioner said that the
heavy demand upon the resources OF
the banks during the previous year OF
financial disturbance had been ADJUST
ed and a return to normal standards
had been made. The decrease in bills
payable and rediscounts was 81 ALB
and the increase in deposits was S14,-
9S7,317. The average reserve increased
during the year from 10 to q per cent.
The commissioner said that the banks
were in a position to supply their GUS
toners with sufficient funds to take
care of any reasonable demand that
might be made upon them.
The commissioner said that one or
the obstacles which have deferred
banks from increasing their capital
when deposits warranted had been the
taxing of banks upon their capital and
surplus If the tax was levied on the
income instead of the capital and sur
plus he believed that many more OF
the banks would voluntarily increase
their capital stock. He recommended
that the increase in capital stock be
based on the deposits of bank in
stead of upon the population OF the
city or village in which the bank was
located.
The commissioner recommended
that limitations on loans to person,
copartnership or corporation be re-
duced from 80 to 20 per cent of the
capital and surplus of bank and that
the limitations on loans approved by
the board of directors be reduced from
SO to 80 per cent of the capital and
surplus of a bank. The report coz
tains detailed statements on the re-
sources and liabilities of the state
banks and trust companies of Wiscon-
sin and other information regarding
their operation during the last year.
The report will be printed and may be
secured by persons interested on ap-
plication to the commissioner.
Restores Doctors Right to Practice.
Governor Phillip entered an execu-
tive order directing the restoration to
DR.. A. r. Law of Madison the right
to practice medicine in Wisconsin.
This action of the executive was
taken upon the urgent request of a
large number of prominent people of
Madison. Doctor Law was deprived
of the right to practice his profession
by Judgment of the circuit court of
Dane county, Judge e. Ray Stevens
sitting, upon his conviction of the
crime of manslaughter IN producing
a death by an illegal operation.
Upon that convict;c;. Doctor Law
was sentenced to serve eight years in
the state prison. Later, upon petition
of hundreds of citizens of Madison
and other cities, Governor McGovern
committed his sentence, and later
Doctor Law was pa-oled. On June To-
last Governor Phillip granted par
don to restore the doctor to citizen
ship. At that time the governor was
urged to restore to him the right to
practice, but he did mot do SO. Fol-
lowing that, however, petitions were
renewed, and it was urged and be
lieved by many that the order of res
toration of citizenship in effect re-
voked the order of the court denying
the right to practice.