Mohave County miner and our mineral wealth., 1919-01-25
NATIONAL BANKS IN
 SPITE OF BURDENS
 SHOW BIG INCREASE
Panic Averted By Railroad Control-Resources, Say ings and Depositors Gain Aggregate Pow Is Now Tremendous.

Despite tremendous war burdens national banks grew and prosperec last year, their resources, earnings and deposits establishing new higf records, according to the annual re port of John Skelton William, comp, troller of the currency. The report made public last Tuesday, said the success of the financial manage ment of the war was largely due to the conservative principles main tained by the banks and the federal reserve system, and the efficient di- rection of the individual institutions.
 It was the last report of MT. Will liams in his present term, which ex- pires February 2. It covered the year ending October 31, 1918, and said that half the $17,00O,000,0O0 of Liberty bonds marketed up to that date were sold through the national banks, yet the banks deposits increased nearly $2,000, ,000,000. I interest rates were kept low and stable, in spite of big demand for credit from many sources, MT. Williams said, and there were only two failures during the fiscal year. These are outstanding situa- tions which should make the nation proud of its national banking system, the comptroller declared.
 Railroad Control Saved Day
 "A financial catastrophe" which would have seriously affected banks and business in general last year was averted, said MT. Williams, by the governments taking control of the railroads.
 Resources of the 7,7O5 national banks on November 1, 1918, were re- ported as $19,S21 ,4O4, 4,OOO, as com pared with the aggregate resources of $22,371 ,O00,00 of the 21,175 state or private banking institutions last June. Gross earnings of the na- tional banks in the year ending last July 1, were S13,000,000, an increase If nearly $30O,OO0,OOO over the earn ngs for the year last preceding he outbreak of the European war, and ct earnings were $212,0O0,OOO new igh record.
 The banking power of the United states last June was calculated by the comptroller at $39,082, ,O00, ,000, an increase in the year of $4,609, ,000, ,000. This included national and state in- stitutions' capital, surplus, profits, circulation and deposits, and federal reserve banks capital and deposits.
 The banking power of the United States today is estimated to be seven times greater than in 1890, said the report.
 Savings Deposits Increase
 The comptroller's report shows that between June, 1916, and June, 1918, deposits in savings banks increased from $5,088 8,O00,O00 to $5,471 ,000, ,000, despite the large purchases during the war of Liberty bonds. The number of savings depositors also increased from II JAS, ,000 to II 1,379,000.
 The comptroller renewed many of lation, including the following:
 To prevent officers of banks from borrowing from their own institutions, to limit direct and indirect loans to one individual, firm or corporation; to provide for removal of directors guilty of persistent violations of the national bank act; to authorize nation al banks to establish branches; and to provide for rotations and vacations for book-keepers.
 Discussing failure of national banks, he comptroller entrusted present coalitions with those of the panic in 89S, when 153 national banks, with abilities of more than $SO,OOO OOO, uspended. In the first year of the var, on the other hand, there were only four national bank suspensions, representing liabilities of about $S00,00O.
 "An insurance premium of $3O per million dollars of deposits would be sufficient to guarantee deposits of all national banks against loss, pro- vided the percentage of less shown in the last four and a half years is maintained" said the report, com menting on the recommendation for government guarantee of deposits of $5,000 or less. This legislation, it was declared, would bring many millions IT