Show RECORDS SMASHED MASHED ON BANK RETURNS I St State te Inspector Insists on Greater Measure of r 1 o Se Security J 0 Haf of ot the several I Tabulated r Tabulated T reports state state state banks made mado t to tho the s state s ate bank commissioner show shoe that increase in resources or the general volume of or business has bas been such as to break in the records for an any similar period history of ot tho the state This Tills statement was waS waS' made in a 3 letter from N. N T. T Por- Por bank commissioner to the ter tec state several banks in the tho state operating 9 as state banks The commissioner points to this fact in order that ho he may ma call ll attention to the surplus fund arid and to ask If their undivided profits profit are arc being being- raised to tho the surplus fund He calls further attention at attention attention at- at to the fact that sever several l of the state banks have raised their surplus surplus sur sur- plus gradually and consistently to the level lovel of the total of the capital stock and then shows that others by a similar simi l lar lar- r. r process have attained a 3 halfway position up the scale and nd that others are content to add only what the law requires e. e He concludes his letter thus While we havo have urged now we must mut Insist that in each instance where safe sate banking bankIng bank bank- Ing InI makes the tho need plain a substantial s part of the bank profits must be transferred to surplus Let it be lie made m de beneficiary benefi benen- bench bench- clear to each stockholder or clary ciary who would deplete net not earnings i to swell his dividend account at the expense of or tho the surplus that such practice practice tice cannot obtain at the present tl trine time ne |