Show 1 I j ANNUAL REPORT I IM M I I OF Q COMPTROLLER f Condition of National and Other 1 I I Banks at Date of the Lat Latest LatI Lati Latest est Returns i I CIRCULATION IR i OF THE BANKSt BANKS t NGSI DIVIDENDS tj AND RECEIVERS APPOINTED 1 r The Tie annual report of or Hon Law La Lawf of o oi O 0 Murray comptroller f 1 raea r eo i tile the be currency made to con congress conI conf f K reM gress ellS on CU Dec Dee 7 Includes les statistical and nd I Information In relation to the thet condition of national and other banks at atA 1 t I A e of latest returns the figures fl gures t l 4 J to national banks ba ks being taken from 1 f reports to the comptroller of or the cur currency curI currency rency under date of or Sept S 1908 19 when r I I th re were In tn operation associations t p with paid In capital stock of or I r circulating notes outstanding t t and apt Individual deposits ot of f Leans and discounts amounted to and the banks held In their vault vaulta una gold and silver to the amount ot of S SO and legal tender notes The aggregate te resources of the I 1 brinks banks on the Vho date In question were ti In addition a to the tha paid pal l In capital stock of ot national banks Is the stockholders I c ers liability amounting amoun to The Tho surplus of or the banks Is 7 and their undivided 0 CI l 4 Thus the capital stockholders stoc holders liability surplus I fl and other profits aggregate 2 iliO U or over oer of the total J pf o or the banks It Is 19 estimated f that th tt there are re about shareholders In national banks and an l that the affairs of ot ofA A the associations a are arf managed by IJ approximately GhO directors The comptroller L IS t the number of d depositors d m jon na rut national rutI I banks at five anti and mil millions milL mu mut L t lions Capital Stock of National Banks I 1 The authorized capital stock of or the na national banks on Oat 31 1307 amounted to I since which h date there has bien tn an addition or Of S from banks I I during the year and 16 Jm Increases 8 of et c capital of or preexisting I I tanks The losses Josses were as follows uy liY t Voluntary liquidation WO by ex I a r tion of ot by failures by reductions of or capitalization I I Jj iii Old JIl banks These changes 1 fl iw w an apparent Intra Increase e of r capital dur durk k k the but this amount Uit true capital of a 1 number of ot as asAI AI closed dosell voluntarily or ether ther j I Wisa the stock accounts of or which have h e enot w not tint lieen heen closed on n the books of t of or f fi i fI u the amount so represented being 12 2 t roo 1 f are national banks with I 1 capital C ll of 50 each ench 2115 olIG wIth capital J ot R t over oer eOj to Inclusive 1623 i t tJ I It J with capital of or over Oer to in t i ii over o r to tTo over owr J to 10 03 over to toC C and six with capital ot of over Oer Ji f 1 i i 4 i Bank Circulation cr 1 on i j jf the date dat da f fl t 1 Uco of na d tI ul bank on Dec ec 21 j 1 1St to tot toI 1 t I Oct Q 31 litiS 1918 notes were Issued to the aul nt of or of or which 1 I r have hale been n redeemed re leaving out oU I 1 In the year ear Just jUl justI t J I coed closed lo the Ole issues amounted mounted to 11 I Iii ait amount exceeding g bs lIS iS t tl ti tJI I 1 ij 1 Issued 1118 during t SC ar r d Oct Ii 31 1307 I 1 4 In Murch 1900 lOO circulating notes out outa I a sf ba based ed on bonds bond deposited with 1 ii the treasurer of or the United States In Int InI I t t represented 31 35 3 per cent of or the max 1 hII ln Il Willie while on Oct 31 11 the Issued l I was nearly Oper 0 per cent vent of j 1 maximum I I On the tha of ot earnings asi il 11 n 1 I j OS S on an average capital and surplus i of or and und respectively the UH cr ru s earnings are art shown to be s sI 33 32 i etc charged off orr Ii I and expenses s and taxes paid 15 i iI I I fanning i net earnings of or The I I J aggregate amount of or dividends paid dur durI was an ar average I 1 of Itro 1089 per cent centi i The direct money receipts from national hanks banks by b the government of or the United t States are art represented by b the th taxes paid I Dh on June 1 and under tinder the th t II war revenue rev nue act of or 1898 S on deposits to I June 1 and on circulating notes to June 30 0 IMS 1908 exclusive of Interest paid pard on I public deposits under the art act of May M SO Q KOS ILOS In addition to the foregoing the j batik baks have been en assessed for tor the cost of ot redemption of or circulating notes plates from which circulating notes are printed and examination fees fee The taxes paid aggregate The expenses of or orthe n the tie currency bureau u Including amount appropriated and all other expenses es estimated estimated from frO 1563 to date Is stated at This Thill shows that the banks have H paid to the government over Oer and above i the th cost of ot the th operation of or the currency curr ncr bureau J Charters Issued l During the existence of the system national banking associations o to th number of 92 9 a have been chartered of f are In existence having been heen closed of oC which 1740 10 were placed In Involuntary involuntary voluntary liquidation i closed by b ex cx expiration of corporate existence and terminated by b insolvency ln The number of chartered cha ered Includes 1437 banks bank capital pital of ot 03 9 which were converted from Crom state banks under au authority authority aUthority of ot section t ot orthe the he revised stat statute ut ute During the past lias twelve month banks with authorized capital of t OO were chartered of ot which with capital of ot were organizations effected un on under der the act of ot March 14 1900 and an l 13 with capital of or under the act of or 1 4 Information In tor mati on received for the current year shows that there were In operation H banks other than national with ag aggregate gr ate resources of or l Ue I be returns include U 1120 commercial banks bank 1453 savings savIng banks hanks of or which 67 were of or the tue mutual class cla classI sl U e a without capital stock 1037 1407 private banks bank and loan and trust companies The capital capit l stock of the th commercial banks bank I aggregates nyc individual deposits deposit and resources Savings bank reports to the number of or 14 show de deposits deposits posits aggregating 91 and re resources resources sources 15 the number of de Is the average deposit being The Sti loan and trust companies with capital of or 84 T show aggregate resources of or 8 Reports were ere obtained from 1007 1001 private banks and bankers with capital of or 21 l 1 and aggregate resources of o ru Individual I Deposits Combining July JUl returns from na national banks with those from Crom other banks of ot approximate dates it Is shown that re returns urns turns were received from banks with aggregate capital of and aggregate resources of or The aggregate ate Individual deposits are arc l 1 Banks other than titan national held per cent of Individual deposits In n all banks and 55 35 per cent of o the aggregate resources Individual deposits In all aU reporting banks In 1900 aggregated ag for tor forthe forthe the tho current year deposits aggregate 12 1 an Increase of oC with within withIn within in the past eight years larg or over 76 iG 6 per percent percent percent cent On June 20 10 I Individual depos deposits its In all aU reporting banks aggregated 13 0 or greater grenter than the amount reported for tor the current year During the period ocle June 30 roo 0 1304 1901 as aa heretofore shown there was an Increase of ot in individual de deposits deposits deposits posits or over oer S per cent and amI from 1904 to 1908 1008 the Increase was approximately or about 28 per cent the In Increase Increase increase crease since 1900 1100 as before Stated being over 76 per cent In 1907 1007 the percentage of or cash holdings of or all banks to individual deposits was wan j per er r cent On or about June 3 of ot the OIl current year the banks of the country held In their vaults aults lOW 1070 pep pe cent to meet the demands of ot depositors National banks Increased their percentage of cash hold holdings logs InKs to 10 Individual deposits from rom 1570 to 2033 state banks from S to 1051 private vate ate banks from to loan and trust companies from to C and savings banks from to 12 12 per cent Cash in Banks BanksOn v On or about June Juneo CO iO 1908 1905 the banks of ot the country count lund had ha l on oni hand against in 1907 im a n gain of ot r L during the year eor About of ot the cash holdings gs of or the banks of Q the country is Jn in national banks The stock of t C money mone in the United States on Jun was On July Tul 1 of or the ent year ear It was reported at atS S being be an increase of 2300 Of or 0 the total stock tock of ot money morie in the country count 1003 per cent is held In the treas treasury tr ury as assets per Ier cent Is In report reporting reporting ing banks and per cent elsewhere the per capita not In the treasury or banks being b 1913 1915 or 21 i cents less than th n in 1907 1007 Tim Tho amount of money mone In circulation ex cx exclusive elusive clu he of coin and outer other oiher money mone in treas treasury treasur treasury ury ur as assets but Including money in re reporting porting banks Is OB p 0 a per capita Of jf C t as in 1907 1110 Bani resources es have hav more morp Chan doubled since but hut during the current cu Tent ear there has ha been a decrease of ot about one third of o 1 per ler cent The resources ot or all reporting banks on June 30 0 1908 1905 aggregated gatt gated SW In 1907 19 the aggregate ate re were 19 a loss of 61 GOV tim till current ear In 1900 resources of ot the country aggregated aggregated gated the tho Increase since that I date ate amounting to or lU per percent percent percent cent Banks Other Than National As heretofore stated there were in operation on July 13 1 1148 national banking associations with capital of ot individual In deposits of On or bout June 30 to lUS there were ere II In operation 1452 state savings and private private private vate banks and loan Joan and trust companies reporting aggregate ate capital and deposits of or and lInd respectively and banks blinks to the number of or with capital and deposits estimated at and respectively or a total of ot 2 banks and banking In Institutions Institutions with capital of ot Om and deposits of Since 1 the increase a e In the number of banks has bas been capital stock has Increased Jn In the sum of or and Individual deposits deposit 13 In 1900 na national national national banking bunking capital represented 54 51 per percent percent percent cent and deposits per cent of or the ag as aggregate aggregate capital and deposits depo respectively of or all nil reporting banking associations The percentage of ot capital of national banks bank to capital of or all aU banks in 1907 1900 was as 49 56 50 and of ot deposits to all deposits for the the pres present present present ent year the percentage of capital is II and of ot deposits depo During the period from lOO 1900 to IMS 1003 the percentage of ot capital capitalor of or banks other than national to the tal tat of or alt all banks has increased from 45 46 to toI and the percentage of Individual deposits ep in such banks has fallen from to In 1904 there was In opera operation operation tion lion In hi the United States one bank for fore every e el inhabitants In 1905 one for every 1182 In 1506 1906 one for tor every ec 39 29 6 In 1907 one for every and for tor the pres present present present ent year ear one for every eel inhabitants Banking Power of United States The bankIng power of or the United States In as aK represented by b capital surplus and other profits posits deposits d and circulation circulation tion of national and other reporting banks I together tog ther with estimated amount of or funds of ot this character In the tho banks is shown to be 1 Ct J an in inam amount am exceeding the worlds banking power In 1890 From the latest and most reliable data obtainable the banking pow power po power er of foreign countries Is estimated at The worlds banking power in 1890 according to Mulhall was W as the United States being credited cr with of this amount Since that year ear the banking power of bt the tha Unit United United United ed States has increased to the extent of or or ot over r per cent that of foreign countries or per cent and the combined banking pow power er or iSO per cent The ag aggregate aggregate banking power of pf the orld is 15 estimated at Of the 33 national banks for which re receivers r receivers celers were appointed during the thc year ended Oct 31 J 1 1908 19 9 banks with aggregate aggregate gate capital of ot were restored to solvency and authorized to resume busi business busIness ness while receivers proceeded to liquidate liquidate date the assets of 24 21 banks found to be bt Irretrievably Insolvent Insolent The nominal value of or assets taken charge of by the receivers of ot these 24 banks was the liabilities so far as reported being Dividends to the amount of oC have been n paid to creditors of the banks which failed during the year ear and the affairs of one such bank hay hav having hayIng ing log been finally settled the receivership was terminated Wrecking of Banks Noting the cause of ot failure of or banks placed In charge of receivers r during the year ear it appears that 7 banks were werl wrecked by b the cashier 1 by defalcation of officers and 3 chiefly through fraudulent fraudulent fraudulent lent management among amon other causes Of the remainder 4 t failed from excessive sire sive loans to others and depreciation of securities etc ete 3 by reason of or injudicious banking 2 from excessive loans to di dl directors directors rectors and others and 2 U from depreciation depreciation atlon of securities 1 from failure of ot large debtors and 1 tom general stringency in inthe Inthe inthe the money mone market m Since the tl e organization of the th national banking system to the close of or the pres ples present plesent ent eat report year ear national banks have navo been placed In charge of receivers Of OJ this number 21 u have ha e been restored to solvency and permitted to liquidate and resume business and an the affairs of have been finally settled and the reedy receiverships terminated leaving 77 jj active re receiverships r receiverships |