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ANNUAL REPORT OF THE COMPTROLLER OF THE CURRENCY TO THE THIRD SESSION OF THE FIFTY-THIRD CONGRESS THE UNITED STATES. DECEMBER 3, 1894. WASHINGTON: T PRINTING OFFICE, 1894. THE A SURY D E PA RTMENT, Document No. 1721. Comptroller of the Currency—2d ed 9 TABLE OF CONTENTS. Page. NATIONAL BANKS IN OPERATION 3 Authorized capital stock of national banks 3 Number of shares and shareholders of national b a n k s 3 Aggregate resources, loans, deposits, and circulation of national banks 3 Change in circulation during t h e year 3 Number and capital of national banks organized during the year 3 Number, capital, and circulation of national banks extended during the year 4 Number and capital of banks olaced in voluntary liquidation during the year 4 Changes in number of banks organized and passed out of t h e system during the year 4 Resources and liabilities of national banks at date of each report from December 2, 1892, to October 2,1894 4 G Reports of 1893 and 1894 compared 7 Earnings and dividends of national b a n k s 9 Consolidation of banks 9 Banks other than national 10 Principal items of resources and liabilities of national and other banks 12 Number, assets, and liabilities of building and loan associations in the United States 13 I n t e r e s t of women in banks 13 Insolvent national banks 14 Receiverships 14 Insolvent banks other t h a n national 15 Investigations undertaken 16 Use of credit instruments in retail transactions 17-24 Depositors in national and other banks 24-27 Revenue to the Government 28 Service to t h e public 29 Amendments recommended 31 Conclusion 30 APPENDIX Digest Tables in Index to Report Index to Appendix tables 39 45 139 411 419 R EPORT OF THE COMPTROLLER OF THE CURRENCY. TREASURY DEPARTMENT, OFFICE OF THE COMPTROLLER OF THE CURRENCY, Washington, December 3, 1894. SIR : I liave the honor to herewith submit, as required by law, for the consideration of Congress, the annual report of the Comptroller of the Currency. It is the thirty-second report made since the organization of the Bureau, and covers the year which ended October 31, 1894. The records of the Bureau show that on October 31 the total number of national banks in operation was 3,756, with an authorized capital stock of $67.2,671,365, represented by 7,955,076^ shares of stock owned by 287,842 shareholder thus giving to each bank in the system an average capital stock of $179,002, with 2,117 shares and 76 shareholders. In this total number of banks in the system Pennsylvania leads with 406; New York follows with 334; Massachusetts is next with 267, and the three following in order of numbers are Ohio, 246; Texas, 218; and Illinois, 217. In the item of capital stock Massachusetts is first, with $97,992,500, with the several States following next in the order named, viz: New York, $87,346,060; Pennsylvania, $74,168,390; Ohio," $45,240,100; Illinois, $38,506,000; Texas, $23,255,000; Connecticut, $.22,791,070, and Missouri, $20,840,000. On October 2,1894, the dale of their last report of condition, the total resources of the 3,755 banks then reporting were $3,473,922,055.27, of which their loans and discounts aggregated $2,007,122,191.30, and money of all kinds in bank, $422,428,192.45. Of their liabilities, $1,728,418,819.12 represented individual deposits, $334,121,082.10 surplus and net undivided profits, and $172,331,978 circulating^ notes outstanding. The total amount of circulation of national banks October 31, as shown by the books of the office, was $207,472,603, a net decrease during the year of $1,741,563, and a gross decrease of $8,614,864 in circulation secured by a deposit of bonds. During the year but 50 banks, located in 22 States, were organized, with a total capital stock of $5,285,000. This is the smallest number of banks organized, as well as the minimum amount of capital, in any one year since 1879. In point of numbers Pennsylvania leads with 8 banks, followed by Illinois with 5, Minnesota 4, Ohio and Texas 3 each; the remaining 27 are distributed among the other States. In point of capital stock Kentucky is first, with $800,000, Pennsylvania second, with $600,000, Missouri third, with $575,000, and Ohio fourth, with $510,000. An examination of the geographical location of these banks shows 27, 3 4 REPORT OF THE COMPTROLLER OF THE CURRENCY. with a capital stock of $2,410,000, in the Northern and Eastern States; 10, with a capital stock of 81,550,000, in the Southern States; and 13, with a capital stock of $1,325,000, in the Western or trans-Mississippi division. The charters of forty-one national banks, having a capital stock of $5,143,000 and a circulation of $1,678,050, distributed throughout 18 States were extended during the year. Of these, 9 are located iu Illinois, 5 in Indiana, and 4 each in Ohio and Kentucky. (The details as to the distribution or the remainder will be found in the table.) The aggregate capital stock of the leading States is as follows: Kentucky, $825,000; Illinois, $698,000; California, $500,000; Massachusetts, $500,000, and Texas, $500,000. Within the year 79 banks, with an aggregate capital stock of $10,475,000, have passed out of the system by voluntary liquidation, and 21, including 2 which failed during the year 1893, with a capital stock of $2,770,000, have become insolvent and been placed in charge of receivers. Ten banks, with a capital stock of $1,575,000, which were in the hands of receivers at the date of the last report, have resumed business during the year. The charters of 6 banks, reporting a capital of $665,000 and a circulation of $283,950, expired by limitation, 5 of which were succeeded by new associations, with a capital stock aggregating $600,000 and circulation amounting to $92,250. By a comparison of the statements contained in the last report with the operations of the present year, it is observed that the number of new banks decreased 69; the number of voluntary liquidations increased 33; the number of receivers appointed decreased 44. The number of extensions of corporate existence increased 1; the number of expirations increased 2, and the number of banks organized to succeed expiring associations increased 1. The total number of active banks decreased 40. ' The following abstract of the reports made in response to the five calls required by law indicates the changes which have characterized the status of the banks at different periods throughout the year covered by this report. For the purpose of facilitating comparison with the year preceding the reports of condition for that year are also given. SUMMARY OF THE STATE AND CONDITION OF EVERY NATIONAL BANK REPORTING DURING THE YEAR ENDED OCTOBER 2, 1894. Dec. 19,1893. Feb. 28,1894. M a y 4,1894. I J u l y 18,1894. O c t . 2 ; 1894. 3,787 banks. 3,777 banks. 3,774 b a n k s . 3,770 b a n k s . 3,755 b a n k s . RESOURCES. Loans and discounts.'$1,871.574,769. 95;$1,872,402,605. 96 $1,926,680,824.98 $1,944,441,315.10 $2,007,122,191. 30 TJ. S. bonds to secure ; circulation 204, 809, 350. 00 200, 808, 850. 00 200, 469, 250. 00 201, 335,150, 00 199, 642, 500. 00 TJ. S. bonds to secure j 14, 720, 000. 001 14, 926, 000. 00 15, 226, 000. 00 U. S. deposits 14, 43G, 000. 001 14, 445, 000. 00 14, 805, 200. 00 U. S. bonds on hand. 12, 875,100. 00 10, 662, 200. 00 3, 049, 000. 00: 17, 250,150. 00 Premiums on U. S. 13, 806, 470.18 j 15, 606, 786.13 15,133, 458. 23 bonds 14, 930, 896. 78! 14, 624, 279. 03 Stocks, securities, 159, 749, 363. 92 174, 305,552. 50 185, 324, 549. 67 191,137,435.661 193,300,072.44 etc Banking house, furniture, and fix73, 642, 314. U\ 74,143, 833. 68 74, 802, 956.73 74, 929, 982. 52; 75,183, 745. 64 tures Other real estate and 20,145, 599. 88 21,174, 855. 07 21, 877, 508. 22 22, 708, 391. 20 18, 679, 746. c mortgages owned.. Due from national banks (notreserve 108,265, 460. 75 112,672,823.4l| 119, 303,798.52| 111,775,552.18 122,479,067. agents) REPORT OF THE COMPTROLLER OF THE CURRENCY. SUMMARY or THE STATE AND CONDITION OF EVERY NATIONAL BANK DURING THE YEAR ENDED OCTOBER 2, 1894—Continued. 5 REPORTING Dec. 19,1893. Feb. 28,1894. May 4,1894. July 18,1894, Oct. 2,1894. 3, 787 banks. 3,777 b a n k s . 3,774 banks. 3,770 banks. 3,755 banks. RESOURCES—cont'd. Due from S t a t e banks and bankers Due from approved reserve agents Checks and other cash items* Exchanges for clearing house Bills of other national bank p Fractional p a p e r currency, nickels, and cents Gold coin Gold Treasury certificates Gold clearing-house certificates Silver dollars Silver Treasury certificates Silver fractional coin Legal-tender notes . . IT. S. certificates of deposit for legaltender notes Five-percent r e demption fund with Treasurer . . . Due from U.S.Treasurer Total. 28, 682, 998. 64 27, 335,317.15 29, 628, 495. 01 212, 630, 636. 30 240, 891, 926. 63 257, 854,100. 32 i 27, 063, 816. 38 27,973, 911. 86 258, 089, 227. 51 248, 849, 607. 59 13, 519, 016. 51 12, 633, 797. 31 12, 549, 614. 34 11, 865, 939. 23 15, 576, 975. 25 71, 943,165. 75 70, 299, 653. 62 76,002, 055. 47 66, 511, 835. 77 88, 524, 052.17 21,497,840.00 19, 866, 610. 00 20, 754, 988. 00 19, 650, 333. 00 18, 580, 577.00 988, 602. 57 1, 061, 927. 79 143, 928 989. 41 124, 904, 826. 09 1, 014, 037. 51 128,180,158.36 1, 041, 630.44 125, 051, 677.14 952, 932. 95 125, 020, 290.92 44, 877,100. 00 41,516,110.00 41, 928, 330. 00 40, 560, 490. 00 37, 810,940. 00 14, 702, 000. 00 7, 530,135. 00 32, 765, 000. 00 7, 741, 205. 00 34, 721, 000. 00 7, 489, 931.00 34, 023, 000. 00 7, 016, 489. 00 34, 096, 000. 00 6,116, 354. 00 41, 580, 654. 00; 38, 075,412. 00 5, 943, 584.19 6, 041, 850.15| 146,131,292.00 138,216,318.00 28, 784, 897. 00 5,422,172. 58 120, 544, 028. 00 34, 776, 253. 00 43,181,166.00 6, 058, 278. 25 5, 439,171. 02 131, 626, 759. 00 142, 768. 676 00 35, 045, 000. 00 46, 030, 000. 00; 8, 876, 042. 25 8, 751, 434.40 2, 029, 141. 92 2,132, 772. 09| 31, 255, 000. 00| 50, 045, 000. 00 45,100, 000.00 8, 713, 498.44 8, 791, 946. 90 8, 723, 223.16 2, 301, 480.28 1, 920, 783. 31 897, 645. 20 3, 242, 315, 326.70 3,324, 734, 901. 89,3, 433, 342, 378. 08 3, 422, 096, 423. 33 3,473, 922, 055. 27 LIABILITIES. Capital stock paid in. 681, 812, 960. 00 678, 536, 910. 00 675, 868, 815. 00 671, 091,165. 00 668, 861, 847. 00 Surplus fund 246, 739, 602. 09 246, 594, 715.96| 246, 314,185. 63 245, 727, 673. 71 245,197, 517. 60 Undivided profits, less expenses and taxes paid 100, 288,668.05 84, 569, 294.46 86, 874, 385. 87| 89, 394, 262. 20 88, 923, 564.50 National-bank notes 179, 973,150. 50 174, 436, 269.10 172, 626, 013. 50 171, 714, 52. 50 172, 331, 978.00 outstanding State-bank notes out75,059.50 71, 483. 50 standing 71,480.50 66, 290. 50 66, 290. 50' Due to other national 298, 805, 834. 56 343,143, 745. 59 359, 539, 488. 04 352, 002, 081.10 343, 692, 316. 63 banks Due to State banks 151, 313, 715. 25 173, 942, 000.98 182, 937, 307.10 181,791, 906. 23 183,167, 779. 62 and bankers 2, 332, 506. 1, 536, 354. 03 Dividends u n p a i d . . . 2, 576, 245. 95 1, 217, 903.99 2, 586, 504.77 • 1 . 23 2 3 1, 586, 800,444. 5011. 670, 958,769. 07] 1 677,801, 200. 85 1, 728, 418, 819.12 Individual deposits . 1, 539, 399, 795. 10, 017. 29 1.00 "1,925,967.44! 538, 365. 64 U. S. deposits 10, 024,909. 62 10, 391, 11, 029, Deposits of U. S. dis3, 469, 398. 77 3, 643, 346. 71 3, 317, 341. 85 bursing officers 3, 099, 504. 08 3, 716, 537. 80 Notes and bills re11, 465, 546.18 7, 729,558. 98 905, 541.10 8,195, 566. 99 discounted 11,453,427.95 14, 388, 362.94 9, 234, 205. 50 9, 999, 098.81 Bills payable 224, 464. 78 12, 552, 277. 78 Liabilities other than 2, 973, 863. 64 those above stated. 2,265,513.73 2,313,836.70 2,422,567.04! 2,938,543.20 i Total. 3, 242, 315, 326. 70 3, 324, 734, 901. 89;3, 433, 342, 378. 08 3, 422, 096, 423. 33^, 473, 922, 055. 27 6 REPORT OF THE COMPTROLLER OF THE CURRENCY. SUMMARY OF THE STATE AND CONDITION OF EVERY NATIONAL BANK DURING THE YEAR ENDED OCTOBER 3, 1893. REPORTING Dec. 9,1892. M a r . 0,1893. M a y 4,1893. | J u l y 12,1893. Oct. 3, 1893. 3,784 banks. 3,806 b a n k s . 3,830 b a n k s , j 3,807 b a n k s . 3,781 b a n k s . RESOURCES. Loans and discounts. $2,106,615,720. 28 $2,159,014,092. 48$: ;2,1C1,401,858. 59 $2,020,483,671. 04 $1,813,03*4,107. 51 U. S. bunds to secure circulation 160, 449, 250. 0.00 170, 090, 550. 00; 172, 412, 550. 00: 170, 588, 050. CO 200, <4G3, 853. 00 TJ. S. bonds to secure deposits. 15,321,000. 00 15, 351, 000. 15, 261, 000. 00: 15, 256. 000. 14, 816,000.00 U. S. bonds on hand. 4,148, 000. 00 4, 372, 600. 3, 519, 550. • 2 , 760, 950. 0J Stocks, securities, 00! 3, 078, 050. etc 153,648,180. 153, 420, 770. 150, 747, 862. 61 148, 509, 950. 46 Due from approved 80! 149, 690, 701. reserve agents 204, 948,159. 202, 012, 051. 174, 312,119. 33 158, 499, 044. 28 Due from other na44 159, 352, 677. tional banks 142, 023, ICG. 36 124, 384, 884. 121, 673, 794. 81 94, 740, 011. 97 24| 111, 950, 506. Due from S t a t e banks and bankers. 30,120, 300. 34,403,231. 32, 681, 708. 24, 229,103.* 2 90 27, 211, 234, Banking house, furniture, and fixtures 72, 294, 304. 72, 080, 344. 73, 386, 921. 72, 322, 823. C8 79; 72, 750, 830. Other realestateand mortgages owned.. 15, 920, 087. 17, 030, 004. 16, 646, 853. 10, 828, 949. 40 69i C u r r e n t expenses 1 6 ) 632, 410. 14, 204, 970. 10, 992, 932. 11, 740, 470. and taxes paid 11, 071,096.65 23; 4, 892, 772. Premiums on U. S. 13, 913, 289. 13, 270, 091. bonds 12, 935, 077. CG; 13, 981,807.44 74; 11, 933, 004. Checks and other 18, 755, 010. cash items 17, 546, 973. 16, 755,332. 61 15, 359, 764. 56 93: 16, 707, 680. Exchanges for clear125,142, 839. 7 114,977,271. 110, 522, 668. ing-house 44 106, 181, 394. 59 i Bills of other na18,248,700. tional banks 20, 085, 088. 081 107, 7G5, 890. 00 20,488,78!. 22, 402,611.00 00 20,135, 054. Fractional currency, 945, 532. 952, 810.. 990 nickels, and cents. 893, 909. 952, 032.48 1, 026, 813.90 94, 754, 328. 05 101, 006, 531. 58; 95, 799J S01..08 6 Gold coin 129, 740,438.19 99, 857, 235. Gold Treasury certificates 62, 783, 410. 00! 50, 550,100. 00 73,118, 480. OOi 69, 198, 790. 00 47, 522, 510. 00 Gold clearing-houso 6, 237, 000. 5, 073, 000. 00i 080, 000. 00 4, 939, 000 certificates 4, 285, 000. 7, 615, 574. 00! 965, 844. 00 7, 380, 457 Silver coin, dollars.. 7, 593, 084. 7, 212, 800 Silver Treasury cer21,095,114.00 24,003,511.00| 22,026,180.00 28, 385, 889. 00 22,550,089.00 tificates Silver coin, frac5, 438, 877. 5, 635, 679.. 71) 6.119, 574. C, 140,115.23' .74. 63 tional 6, 009,178.88 103,511,163. OOJ 1 1 4 , 709, 352. 00 Legal-tender notes .. 102, 276, 335 00 90, 935, 774. 00 95, 833, 077. U. S. certificates of 14, 675, 000. 6, 470, 000. 12, 130,000. 1 oo! 7, 020, 000. 00 deposit 00 0, 660, 000. Five per cent re7, 401, 830. 7, 467, 989. 977. 414. 18 7, 282, 413. demption fund 771 7, G00, 004. Due from Treasurer, other than 5 per 1,202,749.85 1, 550, 891. 28' 1, 010, 074. 42 1,208,405.03: 1,322,444.60 cent fund Total 3, 480, 349, 667.19 3, 459, 721, 235. 78.3, 432,170, 697. 25.3, 213, 261, 731. 94 3, 109, 563, 284. 36 LIABILITIES. Capital stock paid in 689, 698, 017. 50, 239, 931, 932. 08 Surplus fund Undivided profits... 114, 603. 884. 52 National-bank notes 145, 069, 409. 00 outstanding State-bank n o t e s 74, 176. 50| outstanding 1, 308, 137.97j Dividends unpaid... Individual deposits . , 764, 456, 177.111 349. 92; U. S. deposits 9, 673, j Deposits of C. S. dis210. 37j bursing oflicers 4, 034, Due to other national 449. 03; banks . 323, 339, Due to State banks j and bankers 160, 778, 117.18! Notes and bills re15, 775, 618. 63 discounted 9, 318, 249. 82! Bills payable 1, G88, 817. 50| Other liabilities Aggregate 688, 642, 876. 00! 688, 701, 200. 00! 085, 780,718.56 245, 478, 362. 77| 246,139,133. 32; 249, 138, 300. 30 103, 067, 550.151 106, 966, 733. 57; 93, 944, 649. 73 678,540,338.93 246, 750, 781. 32 103, 471, 662. 87 151, 694,110. 00 182, 959, 725. 90 149,124, 818. 00 155, 070, 821. 50 75, 075.50 75, 075. 50 75, 072. 50 75, 069. 1, 350, 392. 19! 2,579, 556. 38j 2, 874, 697. 3, 879, 673. 50 817.511, , 451,124, 330. 751. 439, 374. 141, 749, 930, 556, 761,230.17 10, 546, 135. 9, 057, 243. 49j 9, 813,762. 10, 379, 842. 66 50 59 55 51 4, 293, 739 93 3, 321, 271.84 3, 776, 438. 21 304, 785, 330. 02 275,127, 229. 28 238, 913,573.51 226, 423, 979. 00 100, 901, 051. 78 153, 500, 923. 94 125, 979; 422.16 122, 891, 098. 21 18,953, 306. 98| 21,506, 247. 53J • 3,051, 379.82! 940,438. 56 381, 451. 27 689, 265.68 21, 066, 737.01 27, 426, 937. 54 31, 632, 352.16 3, 927,760. 14,021,596. 18,180, 228. 2, 913, 047. |3, 480, 349, 067.19 3, 459, 721, 235. 78J3, 432,170, 697. 25 3, 213, 201, 731. 94 3,109, 503, 284. 30 REPORT OF THE COMPTROLLER OF THE CURRENCY. 7 REPORTS OF 1893 AND 1894 COMPARED. The changed condition of the national banking interests, despite the severe and prolonged financial and business depression of the year, as shown by a comparison of the tables, is not less marked than was that between the years 1892 and 1893. -The recovery of public confidence in the banks during the year 1894 has been not less rapid than was th ^apparent loss of such confidence in 1893. Individual deposits declined from $1,764,456,177 on December 9,1892, to their lowest point, $1,451,124,330, on October 3, 1893, but from the last-named date they began steadily to increase to $1,539,399,795 on December 19, 1893, $1,586,800,444 on February 28, 1894, $1,670,958,769 on May 4,1894, $1,677,801,200 on July 18,1894, until on October 2,1894, they had reached the sum of $1,728,418,819, or an amount but $36,000,000 less than on December 9, 1892, the highest point reached during the two years named. In this connection is to be considered that on December 9,1892, these deposits were held by 3,784 banks, with a capital stock of $689,698,017, while on October 2, 1894, they were held by only 3,755 banks, with a capital stock of but $668,861,847. At the last-named date the banks had a surplus fund of $245,197,517, and net undivided profits of $88,923,564, as against, on December 9, 1892, a surplus fund of $239,931,932, and undivided profits, after deducting expenses and taxes, of $100,398,914. During the two years named the national-bank notes outstanding increased from $145,669,499, on December 9, 1892, to $182,959,725 on October 3, 1893, after which date they decreased until July 18, 1894, when the amount of $171,714,552 was reached. Between that date and October 2, 1894, the amount again increased, reaching $172,331,978. The amount due to other national banks on December 9, 1892, was $323,339,449. It gradually decreased to $226,423,979 on October 3, 1893, but after that date again increased, and on October 2,1894, stood at $343,692,310. So also with the amount due State banks and bankers. On December 9, 1892, it was $160,778,117, but decreased by October 3, 1893, to $122,891,098, and after that date again increased, standing on October 2, 1894, at $183,167,779. On October 3, 1893., the liabilities of the banks for money borrowed in different forms amounted to $80,126,026, which liability had by December 19, 1893, decreased to $28,827,772. The same items of liability on October 2, 1894, aggregated $26,944,248. The total liabilities of the banks which on December 9, 1892, were $3,480,349,667 had on October 3, 1893, decreased to $3,109,563,284, the lowest point touched during the two years under consideration, and after that time increased gradually until on October 2, 1894? was $3,473,922,055, an amount but $6,000,000 less than on December 9, 1892. A study of their resources shows that the loans and discounts which on December 9, 1892, stood at $2,166,615,720, and on May 4, 1893, at $2,161,401,858, had by October 3, 1893, decreased to $l,84&|63i,167, the lowest point touched during the two years. By December 19, 1893, however, this item of resources had increased to $1,871,574,769; on February 28, 1894, $1,872,402,605; on May 4,1894, $1,926,686,824; on July 18, 1894, $1,944,441,315, and on October 2,1894, to $2,007,122,191, a recovery at the last-named date of $163,488,024, as compared with the lowest point reached on October 3, 1893. The amount of United States bonds to secure circulation on December 9, 1892, was $166,449,250, increasing gradually during 1893 until on October 3, 1893, it stood at $206,463,850, the highest point reached 8 REPORT OF THE COMPTROLLER OF THE CURRENCY. during the two years. After October 3, 1803, commenced a slight decrease, the amount of bonds held for circulation on October 2, 1894, being $199,642,500. The amount of bonds held to secure United States deposits shows little variation between the dates named. On December 9, 1892, it was $15,321,000, and on October 2, 1894, $15,226,000. Of United States bonds held for'investment the banks had on December 9,1892, $4,148,600, the item decreasing in amount until on October 3,1893, when they held $2,760,950. On December 19,1893, the amount had slightly increased, reaching $3,049,000, but on February 28, 1894, it increased to $17,250,150, this marked increase being chiefly due to investments made by the banks in the 5 per cent bonds sold by the Treasury during the period intervening between the two dates named. After February 28,1894, the amount of these bonds held for investment gradually decreased until on October 2,1894, when the banks held $10,662,200. The amount of stocks, securities, etc., was on December 9, 1892, $153,648,180, but steadily decreased until October 3, 1893, when it amounted to but $148,569,950. An increase then began and continued, as is shown by the following: December 19, 1893, $159,749,363; February 28,1894, $174,305,552; May 4, 1894, $185,324,549; July 18, 1894, $191,137,435, and October 2, 1894, $193,300,072. This movement commencing at the close of the monetary stringency and continuing while the cash resources of the banks were being replenished by depositors, indicates the extent to which this form of investments was resorted to' by the banks during a period of easy money. The amount invested in banking houses, furniture, and fixtures was on December 9, 1892, $72,294,364, and with slight variations gradually increased during the i)eriod to $75,183,745 on October 2f 1894. Of other real estate and mortgages owned the banks held on December 9, 1892, $15,926,687, the amount increasing during the year to $16,828,949, after which date there was a gradual and steady increase until, on October 2, 1894, the amount reached $22,708,391, thus showing the extent to which real-estate security was acquired by the banks as a result of the financial stringency for the purpose of saving debts previously contracted. The item due from national banks, which on December 9, 1892, was $142,623,106, decreased until, on October 3, 1893, it was but $94,740,014. It then began to increase until, on October 2, 1894, it reached the amount of $122,479,067; so also the amount due from State banks and bankers, which on December 9, 1892, was $34,403,231, decreased to $24,229,106 on October 3, 1893, after which time it again slightly increased to $28,682,998 on December 19,1893. The variation during 1894 was slight, standing on October 2, $27,973,911. The amount due from reserve agents on December 9, 1892, was $204,948,159, decreasing by October 3,1893, to $158,499,644, and thereafter increasing steadily until on July 18, 1894, the amount of $258,089,227 was reached, the item standing at $248,849,607 on October 2, 1894. Exchanges for clearing house, which on March 6, 1893, had reached the large amount of $125,142,839, decreased to $106,181,394 on October 3, 1893, still further to $71,943,165 on December 19, 1893, and to $70,299,653 on February 28, 1894, increasing to $76,002,055 on May 4, 1894, decreasing again by July 18, 1894, to $66,511,835, and again sharply increasing between the last named date and October 2,1894, to $88,524,052. Representing, as does this item, the volume of checks drawn by their depositors exchanged by associated banks, the fluctuations are interesting as measuring the ebb andflowof business activity during the period under consideration. REPORT OF THE COMPTROLLER OF THE CURRENCY 9 The specie held on December 9,1892, amounted to $209,895,260, and gradually decreased to $186,761,173 on July 12, 1893, after which it as gradually increased until on May 4, 1894, it amounted to $259,941,923, decreasing thereafter to $250,670,652, and further to $237,250,654 on October 2, 1894. So the amount of legal-tender notes and United States certificates of deposit therefor, which on July 12, 1893, had decreased to $102,493,677, increased thereafter until the sum of these items amounted on May 4, 1894, to $192,161,292, then decreasing to $188,261,318 on July 18, 1894, and farther to $165,644,028 on October 2, 1894. It is interesting to note that the lawful money reserve in bank, which had reached its lowest point, $289,244,850, on July 12, 1893, steadily increased thereafter until May 4,1894, the amount of it was $452,103,214. It then decreased to $438,931,970 on July 18,1894, and further to $402,894,682 on October 2,1894, such decrease in cash resources between May 4,1894, and October 2,1894, being accounted for by the marked increase in the item of loans and discounts during the same period, due to the gradual revival of business between the two dates named, but more particularly between July 18, 1894, and October 2, 1894, EARNINGS AND DIVIDENDS. The law requiring dividend reports from national banks went into effect in March, 1869, and since that date the abstracts for semiannual periods have been incorporated in the annual reports issued by this Bureau. The number, capital, surplus, dividends, net earnings, and ratios of dividends to capital, dividends to capital and surplus, and net earnings to capital and surplus, annually, from March, 1869, to March, 1894, are shown by such abstracts. The average capital and surplus were $522,797,940 and $149,931,336, respectively 5 the average annual dividends paid amount to $44,355,814 and the net earnings to $55,237,454. The rate per cent of dividends declared varies from 10.5 in the year ended March 1,1870, to 6.8 in 1894, the average for the twenty-five years being S.5. The total dividends paid and the net earnings are shown to amount to $1,108,895,358 and $1,380,936,361, respectively. CONSOLIDATION OF BANKS. During the year, as already stated, 79 national banks withdrew from the system by voluntary liquidation, a number larger than in any previous year except 1885. Many active banks have reduced their capital stock to a greater or less degree since the last report, while the number of banks organized has been comparatively small. The cause is probably to be found in the reduced earnings of the banks, consequent upon the contraction in the volume of business for the year. While the average percentage of net earnings on capital and surplus since 1869, when the act of Congress became operative requiring national banks to report earnings and dividends, is 8.2 per cent and of dividends 6.6 per cent, net earnings during the year past have only amounted to 5.6 per cent and dividends to 5 per cent. This is the smallest percentage of dividends ever paid, and the percentage of earnings falls below all years except 1878 and 1879. The continued stagnation in commercial circles, with its attendant business embarrassments, has in some instances consumed surplus and undivided profits, and even demanded substantial assessments upon the shareholders to make good impairment of capital. In order to place such 10 REPORT OF THE COMPTROLLER OF THE CURRENCY. banks upon a dividend-paying basis, expenses must be reduced until the earnings again exceed them. How to accomplish this purpose has demanded very serious consideration. Two methods appear to promise favorable results. Either a reduction of capital or a consolidation of banking interests will produce a curtailing of expenses. If the reduction can be accomplished without loss of business, its results may be fairly satisfactory. However, such action frequently tends to breed distrust rather than create confidence. No one can deny that bankingxhas overreached itself in many communities. Profits are sought by several institutions when one strong bank only could be able to make them, the others conducting their business at either an actual loss, or at least without profit. The consolidation of rival concerns in such localities would add quite largely to the available banking capital, and at the same time escape a large proportion of expense. It would also tend to check reckless banking springing from an unwholesome competition to obtain business. Such a course invites public confidence and goes to justify it. During the year this plan has been adopted by national banks at Louisville, Indianapolis, Denver, Dallas, and in other places with satisfactory results. Unquestionably it will hereafter receive careful attention from conservative bankers, and, without in anywise tending toward monopoly in banking concerns, it will be productive of benefit to all interests. BANKS, OTHER THAN NATIONAL. In compliance with the provisions of the law requiring that the Comptroller shall present to Congress a general statement of the resources, liabilities, and condition of banks and banking companies, other than national, namely: State, savings, privatebanks, andloan and trust companies, the following information is submitted. It has been furnished to this office by the officers of the various States and Territories of the Union having supervision of these institutions, and is complete except as to Delaware, Maryland, West 'Virginia, South Carolina, Georgia, Florida, Alabama, Arkansas, Tennessee, Arizona, Idaho, Indian Territory, Oklahoma, Montana, Nevada, New Mexico, Oregon, and Utah. The number of banks and savings institutions organized under State authority, and in active operation July 1,1894, was 5,033, and reports of condition have been -received from 4,834 of this number. A compilation of these returns will be found in the appendix, tabulated by classes and States and the source of information indicated. In addition to the returns from banks organized under State authority, reports of condition have been received from 904 private banks and bankers. As the reports almost uniformly indicate the condition of such banks in the months following the monetary stringency of 1893, a comparison with the returns of the preceding year is herewith made to show the extent to which these banks were affected by the panic. The principal items of resources and liabilities are as follows: Items. Loans Bonds, etc. Cash . Capital Surplus and profits. Deposits TotnJ resources 1893. I ' 1894. $2, 340, 605, 313 ! $2, 133, 628, 978 1, 009, 604, 350 1, 010, 248, 230 205, 645, 203 229, 373, 004 406, 007, 240 398, 735, 390 346, 206, 287 352, 424, 784 3,070,462,680 2,973,414,101 3, 979, 008, 533 3, 868, 474, 997 REPORT OF THE COMPTROLLER OF THE CURRENCY. 11 From the above statement an increase is to be noted in the following items: Investments in stocks and bonds, $643,880; cash on hand, $23,727,801$ surplus and undivided profits, $6,218,497. The following items show a decrease: Loans and discounts, $206,976,335; capital stock, $7,271,850; deposits, $97,048,579, and total resources, $110,533,536. The total number of State banks from which reports were received is seven more thgfti reported in 1893, though the capital stock is $6,000,000 less, being but $214,435,573. The deposits are $658,107,494; loans and discounts, $665,988,823; investments in stocks and bonds, $84,541,728; total resources, $1,077,164,813. The decrease in loans is about $91,030,000; deposits, $49,000,000, and total resources, $53,000,000. The amount of dividends paid by the State banks in Rhode Island, Connecticut, Pennsylvania, Michigan, and North Dakota is official, and the percentage is based on the entire capital employed by all banks in each State, With the exceptions above noted the average rates are based on the capital and dividends of dividend-paying banks. Information on this subject, in full or in part, was received from 1,265 banks, located in twenty-six States, capitalized in the sum of $69,601,357, on which dividends amounting to $5,145,440, an average rate of 7.4 per cent, were paid. The incompleteness of such returns is owing to the fact that in a large majority of States in which public officers are charged with the supervision of banks and the compilation of banking statistics, no provision is made for procuring statements of dividends paid. In a number of instances, however, the State officials very courteously made a special call in order that the desired information might be placed at the disposal of this Bureau. Reports of condition were received from 1,024 savings banks and savings institutions, of which 646.are mutual and 378 stock savings banks. The resources of the latter class amount to less than 15 per cent of the total of both. Of the mutual savings institutions 635 are located in the Eastern and Middle States, 1 in a Southern, and 10 in three of the Western States. The total loans of banks of this class amount to $822,404,433; investments in stocks and bonds, $742,923,542; deposits, $1,538,305,070; and total resources, $1,691,432,501. The total loans of all savings banks amount to $1,026,622,425-3stock and bond investments, $778,587,866; deposits subject to check, $29,971,962; savings deposits, $1,747,961,280; and total resources, $1,980,744,189. A comparison of these returns with those of 1893 indicates a decrease in the following items: Loans, $20,152,272; stocks and bonds, $20,784,610; deposits, $30,867,020; total resources, $33,030,958. The number of savings depositors is 52,912 less, and the average amount due each depositor $3.69 less than last year. It appears from the annual reports of public officers in the Eastern and Middle States that the large decrease in deposits in savings banks was the result of the panic, withdrawals from the banks being due to fear, inspired by a lack of confidence, a desire to make other investments, or, where industrial depressions occurred, for subsistence. From reports of savings banks, made as late as June 30 last, it appears that they are again approaching their normal condition, and their deposits are now^ constantly increasing. The tables in the appendix show in detail, by States, the condition of each and of both classes of savings banks and the average deposit by States and geographical divisions, the number of depositors in all savings banks, amount of savings deposits and average due by States 12 REPORT OF THE COMPTROLLER OF THE CURRENCY. in 1892-'93 and in 1893-'94, and the growth of savings banks in number, depositors, and amount of savings deposits from 1820 to 1894. There have been received reports of condition of 224 loan and trust companies, which show loans amounting to $374,421,713; stocks and bonds, $142,224,151; capital, $97,068,092; deposits, $471,298,816; total resources, $705,186,944. Nine hundred and four private banks and bankers, having an aggregate capital of $26,652,167; deposits, $66,074,549; loans, $66,596,017; stocks and bonds, $4,894,485, and total resources, $105,379,051, reported. In order to make a proper comparison, a condensed statement is herewith given, showing the principal items of resources, liabilities, and total resources of each class of banks referred to: Loan and trust ! Savings banks. companies. State banks. Items, Loans United States bonds Other bonds $665, 988, 823 604, 055 83, 937, 673 244, 435, 573 102> 453, 492 658,107, 494 1,077,164,813 Capital Surplus and profits. Deposits Resources Private banks. 374, 421, 713 J $1, 026, 622, 425 | $66, 596, 017 13,449,411 108, 950, 804 534,102 128, 774, 740 669, 637, 062 4, 360, 383 97, 068, 092 30, 579, 558 26, 652,167 75, 303, 366 165, 609, 461 9, 058, 465 471, 298, 816 1, 777. 933, 242 66, 074, 549 705,186, 944 1,980,744,189 105, 379, 051 Similar information with respect to national and other banks and total of all banks is shown in the following statement: Items. Loans United States bonds Other bonds Capital Surplus and profits . Deposits Total.resourees National banks. All other banks. $1, 991, 874, 273 $2,133, 628, 978 123,538,372 240,154, 979 886, 709, 858 193, 300, 072 398, 735, 390 668, 861, 847 352, 424, 784 334,121, 082 2, 973, 414,101 1, 742,160, 267 3, 473, 922, 055 3, 868, 474, 997 Total. $4, 125,503 251 363, 693, 351 1, 080, 009 930 1, 067, 597, 237 686, 545, 866 4, 715, 574, 36? 7, 342, 397 052 The total amount of capital stock reported by national banks on July 18 last, and of State, stock savings, private banks, and loan and trust companies at the date of the latest returns obtainable by this Bureau, is $1,069,826,555, an average of $15.63 per capita. The aggregate capital reported in 1893 was $1,091,793,959, an average of $16.29. The estimated population of the United States on the date mentioned was 68,473,000; the total banking funds, namely, capital, surplus, undivided profits, and deposits of national and other banks, $6,407,003,338, making a per capita average of $93.57. The decrease in these funds, as compared with 1893, is $5,936,616. The average per capita on the latter date was $95.68. The amount of specie, paper currency, etc., held by national banks on July 18 last, arid by other banks on or about the same date, was $688,996,937, of which amount the gold reported was $133,398,786; silver, $16,827,146; specie, not classified, $20,480,340; paper currency, $397,587,281; fractional currency, $1,041,630, and cash not classified, $119,661,754. In connection with the information obtained relative to the condition of banks other than national, it is not out of place to here incorporate REPORT OF THE COMPTROLLER OF THE CURRENCY. 13 a summary of the annual report of the Commissioner of Labor, issued May last, which is devoted exclusively to the laws and rules governing, methods of operating, condition of, and statistics relative to building and loan associations of the United States. It appears from the report that associations of this character have existed in the country since about 1840, since which date their growth has been very rapid. It is stated that the number in operation is 5,83.8, of which 1,079 are located in Pennsylvania, 721 in Ohio, 669 in Illinois, 445 in Indiana, 418 in New York, 366 in Missouri, 288 in New Jersey, 240 in Maryland, 148 in Kentucky, 133 in California, 115 in Massachusetts. In no other State does the number reach 100. Nearly complete data show that the number of shares in force is 13,255,872, and the number of shareholders 1,745,725. The number of male and female shareholders was 919,614 and 307,828, respectively. The assets and liabilities of the associations are as follows: Assets. Loans on real estate Loans on association stock Loans on other securities Cash . . . Other assets Total Liabilities. $470,142, 524 17,352,193 6,001,671 14, 056, 406 21, 300, 091 Borrowed money Dues paid in Profits Other liabilities $13,283, 265 370, 003, 478 80, 664,116 33,775 366 31,126, 660 528, 852, 885 Total 528, 852, 885 - Tables showing in detail information submitted by State and other banks, the condition of the loan and trust companies in the District of Columbia October 2, 1894, and of the chartered banks in the Dominion of Canada on July 31, 1894, will be found under their appropriate headings in the appendix. INTEREST OF WOMEN IN BANKS. In April, 1893, as the result of an inquiry instituted by this Bureau, reports were received from national banks showing the number and value of shares of stock owned therein by women, the number of women employed, and the amount paid them as compensation by the banks. In June last similar information was submitted by banks incorporated under State authority. The returns from banks of the latter class are shown in detail in the table appearing in the appendix. A condensed statement of such information from national and other banks is as follows: 1893. National 1894. All other banks (3,806). banks (3,211). Number of shares issued Value of shares issued Number of shares issued held by women . . . Value of shares issued held by women Percentage of shares issued held by women Percentage of capital held by women Number of women shareholders Number of women employes Compensation of women employes Average compensation of women employes. 7, 099,413 $688, 642, 876 1, 733, 772 $130, 681, 494 24.4 18.9 70,697 3, 618, 084 $307,151, 716 481, 098 $38, 074, 712 13.3 12.4 23,146 $185,797. 00 $485 11 $262, 847. 00 $450. 42 383 584 14 REPORT OF THE COMPTROLLER OF THE CURRENCY. INSOLVENT NATIONAL BANKS. During the year there were placed in the hands of receivers 21 national banking associations, having an aggregate capital of $2,770,000; surplus and undivided profits, $715,889; outstanding circulation, $453,154; other liabilities, $5,470,313; and total liabilities, $9,409,356. By comparison with the number and liabilities of all banks on October 2, last, the number of failures was 0.56 of 1 per cent the capital 0.4 of 1 per cent, and the liabilities 0.27 of 1 per cent. The greatest number of failures occurred in Oregon, in which State 4 banks, with capital aggregating $425,000, were closed. In Kansas 3 banks, with capital of $450,000, and the same number in Nebraska, with capital of $260,000, failed. There were 2 failures each in Texas and Missouri, the aggregate capital being $175,000 and $450,000 respectively. In each of the following-named States but 1 bank was compelled to close, the capital being as indicated: New York, $50,000; Pennsylvania, $85,000; Alabama, $50,000; Michigan, $300,000; Colorado, $200,000; South Dakota, $75,000, and Washington, $250,000, RECEIVERSHIPS. Within the period covered by this report the affairs of 143 insolvent national banks have demanded the supervision of the Comptroller. Of these, 10 have been restored to solvency and have resumed business in charge of their proper officers. The accounts of 8 have been finally closed; 25 have been placed upon the inactive list, the accounts beingkept open only to await the result of pending litigation, or to prevent too great sacrifice in disposing of remaining assets. On October 31 receivers were in charge of 100 trusts in i>roeessof active liquidation. The number of receiverships in active operation during the past year has been greater than in any former year since the origin of the nationalbanking system. For this reason, it seems appropriate to here present some statistics concerning the administration of insolvent banks. It has been found necessary to place the affairs of 267 national banks in the hands of receivers since June 20, 1863, when the Comptroller's certificate of authority to begin business was issued to the first bank. Of these 12 have been restored to solvency, leaving the assets of 255 to be distributed by forced liquidation. The affairs of 130 of these have been fully administered and the trusts closed. The nominal value of the general assets of the 255 banks, as they passed into the possession of the receivers, amounted to $158,010,847. Assessments have been levied against shareholders of insolvent banks amounting to $24,051,050, making the total resources of these trusts $182,061,897, an average of $713,576 for each receivership. The total liabilities of these failed banks were $109,036,458, an average of $413,123 for each receivership. The different receivers have collected in cash from the general assets $64,925,321, and from assessments against shareholders $10,119,452, making a total of cash collected $75,044,773. This amount is increased by $21,871,822 by reason of offset settlements, etc., making gross collections aggregating $96,916,595. There is an uncollected balance of assets in the hands of receivers amounting to $43,846,521. Assets valued at $3,926,137 have been returned to the shareholders of the banks that have paid all claims allowed against them, including interest in full. These figures show REPORT OF THE COMPTROLLER OF THE CURRENCY. 15 an average of over 72 per cent of the nominal value realized from a forced collection of these items. The total cost of securing this large aggregate of collections was $5,857,727, or an average on all trusts of a trifle over 6 per cent of the gross proceeds. When the extremely complicated and, in many instances, desperate condition of these trusts is considered, it will be seen that the expenses have been kept at a very low figure. It is gratifying to know that each year the percentage of cost to collections of assets is lessened. The balance of the cash collected by the different receivers, after deducting the expenses of the trusts, has been disposed of as follows: settlements by offsets and otherwise, which discharged $21,871,822 of the gross liabilities, required cash payments of $0,460,506. This leaves a balance of liabilities footing up $8S,064,636, of which 64§ per cent has already been paid in dividends, amounting to $56,933,633. Including the settlements already mentioned, an average of 71y per cent has already been paid upon gross liabilities of all insolvent national banks. The proceeds of the assets yet to be collected will materially increase this average. Shareholders of those banks that have more than paid in full have received in cash from receivers $1,077,344. On October 31, 1894, the cash balance remaining in the hands of the Comptroller and the receivers amounted to $1,723,563. The average time required for the complete liquidation of the 130 receiverships which have been finally terminated was five and twofifths years. The longest time taken to settle the affairs of any trust was in the case of the second bank thai failed, which was eighteen and three-fourths years. The third failed bank comes next with seventeen years. The shortest time within which the affairs of an insolvent national bank have been settled by a receiver was four months and eight days, the next shortest time being four months and fourteen days. It should be explained that the length of time required to settle the affairs of the second and third failed banks was owing to the fact that at that time no legal precedents had been established, and all important questions arising in the liquidation of their assets were required to be determined in court. The litigation thus engendered was the principal cause of the prolongation of these trusts. It is gratifying to know that the average life of receiverships is rapidly growing shorter, being approximately proportioned to the increased experience in settling the affairs of such banks. The first receiver for a national bank was appointed April 14, 1865. The average term of receiverships for the ten years prior to October 31, 1874, was eight years one month and seventeen days. For the succeeding decade the average is six years three months and fourteen days, and for the last ten years the average is but two years ten months and twenty-four days. INSOLVENT BANKS OTHER THAN NATIONAL. Through the courtesy of Mr. Albert O. Stevens, editor of Bradstreet's, this Bureau has been placed in possession of statistics with respect to the failure of banks other than national during the year ended August 31 last. This information in tabular form, showing the number of failures, assets, and liabilities by States, etc., will be found in the appendix. An abstract is herewith given, in connection with similar information 16 REPORT OF THE COMPTROLLER OF THE CURRENCY. with respect to tlie banks which closed during the first eight months of 1893. 1894. Class. ! No. Assets. Liabilities.) No. j Assets. Liabilities. • !- 172 l$41 281, 848 47 | 17073, 938 13 14 337, 500 6 1 760, 803 177 20 237, 259 State banks Saving banks Loan and trust companies. Mortgage companies Private banks Total . j ! $36, 903,266 16, 830,809 22, 354,000 1, 790,000 19, 315,455 $1, 773, 678 2, 646, 008 420, 000 33,000,000 i 1, 749, 600 415 | 94,291,348 97,193, 530 65 | 39,589,286 $2,009,967 2, 077, 943 • 477,00U 37, 500, 000 2, 235, 600 44, 900, 510 By eliminating the failures of mortgage companies, which do not do a banking business, from the total for the year, the number of failures is reduced to 62, and their assets and liabilities to $6,589,286 and $7,400,510, respectively. By comparing these figures with those of 1892, when the failures were 69, the assets, $6,125,189, and the liabilities, $11,024,628, it is evident that the banking business of institutions of the classes named has about resumed its normal condition. The following table indicates the number of banks of each class in operation on July 1, 1894, and the number and percentage of national and other banks closed during the year. Class. Number j Banks closed. doing j business xjinTY1 July 1, Nnm- I Per cent. uei< 1894. National banks State banks State and savings banks .. Loan and trust companies. Private banks 3,775 4,359 5,033 .58 .62 .71 3,858 .54 *One bank has resumed, 1 will probably resume, and 1 will go into voluntary liquidation, leaving 19 in the hands of receivers. The number of all banks, exclusive of loan and trust companies, reported to be in existence on the date in question is 12,666; the number of failures 79, and the percentage of failures, 0.62. INVESTIGATIONS UNDERTAKEN. The increasing importance of the bank as a means for facilitating the daily business transactions of every character and the many interests centering in it, warranted the instituting and carrying on of'a number of investigations upon lines which it was believed would afford the general public and the lawmaking powers added information upon questions not only affecting them in their relation to the banks, but to the whole monetary problem. They involved the use of credit instruments in daily retail transactions, the extent to which banks are used as banks of deposit by the people, as a source of profit to the Government and utility to the public. These investigations have been carried on without other expense to the Government than the trifling cost involved in the printing of the necessary extra blanks sent to the banks upon three occasions when calls for reports of condition were made upon them. The information furnished by the officers of these institu 17 REPORT OF THE COMPTROLLER OF THE CURRENCY. tions was wholly gratuitous, and the Comptroller desires to here acknowledge his indebtedness to them for the courtesy shown by them in so readily complying with his request and aiding him in his undertaking. THE USE OF CREDIT INSTRUMENTS IN RETAIL TRANSACTIONS. The use of credit instruments in the daily transactions of the business of the country has been largely discussed in former reports, but this office had not undertaken to systematically gather information upon the subject of the use of them in retail transactions alone. The inquiries made relative to their use had been general in their character, and thus the returns received embraced in the largest measure the part they played in transactions of very large magnitude. It seems desirable in this instance to confine them exclusively to the everyday business involved in daily living, and, therefore, at the suggestion of David Kinley, P H . D.? professorln charge of the department of political economy in the University of Illinois, who had interested himself in the matter, and of his colleague, Mr. A. P. Winston, the following circular and blank form for a reply thereto were prepared and sent out to each bank under the supervision of the Comptroller: TREASURY DEPARTMENT, OFFICE OF THE COMPTROLLER OF THE CURRENCY, - National Bank, To the Cashier of the • Washington, D. C, May 15, 1894. SIR : An investigation is about to be undertaken looking toward the collection and publication of statistics relative to the use of credit instruments in retail transactions throughout the country, and the assistance of banks and bankers, generally, is earnestly desired. I shall, therefore, be exceedingly thankful to have your cooperation in this investigation by having you furnish this office, at your early convenience, the information called for iit the inclosed blank, as well as such other data bearing on the subject as may be at your command. It is suggested that the most satisfactory results will be obtained by giving the data requested, as shown by the deposits on the " settling day/ 7 in your community, nearest to the close of the fiscal year ending June 30, 1894. Respectfully, yours, JAMES H. ECKELS, Comptroller, June —, 1894. Hon. JAMES H. ECKELS, Comptroller of the Currency: SIR : In compliance with your request of May 15, I give herewith the information desired with respect to deposits, etc., of retail merchants with this bank on June—, 1894: Deposits.* Depositors. cerGold. Silver. Gold tificates. Silver certificates. Grocers, retail Butchers, retail Clothiers, retail Furniture dealers, retail... Fuel dealers, retail * Please omit cents. Checks and other instruments of credit. Total. . Total 8182 CUR Treasury notes. 2 18 REPORT OF THE COMPTROLLER OF THE CURRENCY. 1. What is the usual period of credit granted "by the retail merchants in your community ? . 2. Is it the custom in your community for employers to pay wages by checks? 3. If it is the custom for employers to pay wages by checks, do the employe's as a rule present such checks for payment at the bank, or are they cashed by the merchants ? . Very respectfully, Cashier National Bank, Eeplies more or less complete were received from 2,465 out of a total of 3,774. Upon their receipt an analysis of them was undertaken by Prof. Kinley, in conjunction with the Comptroller, and while neither the returns nor the analysis based upon them are as thorough as might be wished, they at least throw some light upon an important phase of the use of credit instruments and justify the making of the inquiry. It is proposed to undertake during the ensuing year another investigation touching the same subject, but in a way that will, it is believed, call out more fully the exact facts. There was of course no way of getting anything like complete returns of retail transactions throughout the country. The best that could be done Avas to select a few of those kinds of retail trade which in the aggregate represent the largest percentage of retail business; that is to say, those employments were selected the purchase of whose products represents the largest part of expenses for living. In his report for 1890, on the cost of production of iron, steel, etc., the TJ. S. Commissioner of Labor gives data respecting the cost of living, from which it appears that the expenditure for food, clothing, furniture, and fuel is ordinarily about 72.G per cen.t of the total expenditure of the average family of five persons in those industries. It seemed likely that the mode of payment of the purchases of products in these lines would be fairly representative of the mode of payment in other classes of retail transactions, and therefore of all classes of retail transactions. Owing to some slight misunderstanding the blanks sent out did not cover these classes of transactions quite as fully as was intended. Under clothiers, for instance, it was intended to include dealers in dry goods. It was intended further to insert among the classes whose deposits were called for, "general stores," because, as is well known, in' most country districts one store covers most, if not all, the classes of trade mentioned in the schedule. Notwithstanding these omissions, it is thought, however, that the returns are fairly representative of the character of the composition of the circulating medium of those places throughout the country which are sufficiently developed to have a national bank. It may be said that a large amount of the retail trade on the day in question is not represented, and that this omission vitiates the statistics materially. It must be remembered, however, that a large part of the trade concerning which there are no returns is in the small country towns where there are no national banks. In these places most of the trade is done on the basis of book credit, farmers bringing in their produce being credited with its value on the books of the dealers and securing their supplies on the basis of such credit. In all these transactions very little money is used. So far as money is not used in these transactions they would go to swell the amount of REPORT OF THE COMPTROLLER OF THE CURRENCY. 19 the credit in retail business. Moreover, the returns came from national banks only. It is not unlikely that if returns had been received from State and private banks throughout the country they would show the same proportion of credit instruments used. The total number of State and private banks at the time of the investigation was about 8,200; the number of national banks was about 3,700. If the State and private banks did only half as much business as the national banks the total amount of retail transactions represented would be $9,000,000, and this is about two-thirds of the average daily expenditure in retail transactions throughout the country, as estimated from the average expenditure given by the I3ommissioner of Labor in his report for 1890, assuming the family expenditure he describes as the average of the country. It is doubtless true, also, that the returns from these banks would more largely increase the per cent of credit than the per cent of money in the returns, for they are mostly located in those parts of the country where credit seems to be more largely used. Moreover, there are many instances in which the percentage of checks used for payments in the other kinds of retail transactions is much larger than in those for which returns were obtained. This is shown by the extra returns written in on many of the blanks. For example, in 8 banks in the State of Pennsylvania alone there were $6,687 in checks deposited by dealers of the kinds specified in the circular, and $50,428 in checks deposited by other classes of retail dealers. Instances of this kind would arise largely from some peculiar character of the x^lace, like the predominance of some particular trade, but wherever they occur they would tend to swell the proportion of checks. The amount of retail payments which the returns cover is $5,999,065, or in round numbers $6,000,000. Of this amount 58.9 per cent was in checks and store orders, and 41.1 per cent in the various kinds of money. The percentages for the different States are as follows: TABLE I. State. Alabama...... Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Idaho Illinois Indiana Iowa Kentucky Kansas Louisiana Maine Maryland Massachusetts Michigan Mississippi Minnesota Missouri Per cent Per cent |of money, of checks.j 35 40.6 39.7 58.4 29.5 45.4 4G.3 3i 29.8 45.7 44.8 54.7 40. G 46.1 34.3 33.6 37.7 41.9 50.5 45.1 13.5 56.8 35.7 65 59.4 GO. 3 41.6 70.5 54.6 53.7 66 70.2 54.3 55.2 45.3 59.4 53.9 65.7 66.4 62.3 58.1 49.5 54.9 86.5 43.2 64.3 State. Per cent j Per cent of money, of checks. Montana Nebraska New Hampshire New Jersey New Mexico New York North Carolina.. North Dakota... Ohio Oklahoma Oregon Pennsylvania Rhode Island. South Dakota Tennessee Texas Utah Vermont Virginia West Virginia "Washington.. Wisconsin Wyoming 72.7 64.4 57.1 51 83.6 57.5 49.5 56.3 45.2 60.8 49 52.1 59 37.6 57.1 67.5 56.3 62.2 74.8 64 66.8 59.5 43.6 20 REPORT OF THE COMPTROLLER OF THE CURRENCY. The following table shows the returns for groups of States according to population: TABLE II. Population. 5, 000, 000, 3, 500. 000, 2, 000, 000, 1, 500, 000, upward upward upward upward P e r cent of check. States. . . . . 500,000, upward . New York and P e n n s y l v a n i a Illinois and Ohio Missouri, Texas, M a s s a c h u s e t t s , Indiana, and Michigan Iowa, K e n t u c k y , Georgia, Tennessee, Wisconsin, Virginia, North Carolina, a n d Alabama New Jersey 1 f Kansas, Minnesota, California, A r k a n s a s , Louisiana, Nebraska, Maryland, W e s t Virginia, Connecticut, and M a i n e . . . Below 500, 000 54.8 50.2 55.9 61.2 6Q. 4 58.7 In Table III the returns are given for the States grouped geographically, according to the grouping of the census, as North Atlantic division, South Atlantic division, etc. TABLE III. Division. Percent. 56.1 62 3 54.3 65.6 59.7 North Atlantic South Atlantic North Central JSouth Central Western Population. 17,400, 000 8, 900, 000 22,400, 000 11, 000, 000 3, 000, 000 The order of these groups of States as respects density of population, beginning with the lowest, is Western, South Central, North Central, South Atlantic, and North Atlantic. Figures showing the j)ercentage of checks to total receipts in groups of cities according to population: TABLE I n cities of— 500,000 and over 200, 000 and ovei 100, 000 and ove] 50, 000 and ove] 25, 000 and ov< 10, 000 and ov< Below 10,000.. IV. Per cent. 55.9 65.3 70.9 53.8 53.0 66.1 55.6 The number of cities of the first class whose statistics are included above was 4; of the second, 11; of the third, 10; of the fourth, 25; of the fifth, 41; of the sixth, 59; of the seventh, 309. It is not clear to what extent national-bank notes were returned as Treasury notes. The omission of these, if they were omitted to any large extent, can be allowed for on the assumption that the proportion of these notes used of the denominations of $20 and less bears the same proportion to the total amount of these notes of the demoninations mentioned that the silver certificates returned bear to the total silver certificates of the same denominations. That amount would be $400,000. If this is included on the money side of the returns the percentage of checks would become 53.8. This would not alter the proportion of credit instruments used more than 5 per cent. Another element which ought to be considered, concerning which there is no way of getting data, but which would go to swell the credit REPORT OF THE COMPTROLLER OF THE CURRENCY. 21 side of the account, is the large amount of store orders and store checks used, especially in the mining districts and in country districts throughout the South. These are issued in payment of wages, and reduce the amount of money paid out in wages as well as in retail payments. These store orders, as well as the book credit accounts mentioned above, obtain very largely in places whose supplies are furnished through u general stores." The business of these stores is therefore probably more largely a credit than a cash business. The inclusion of these in the returns would therefore have swelled the per cent of credit instruments. From all these considerations it may be safely inferred that the percentage of credit instruments shown is at least not too large. A study of the tables shows that the extent of the use of credit instruments in retail transactions varies widely in different parts of the country. Mississippi heads the list and South Dakota shows the smallest percentage. The larger daily use of credit throughout the cotton-growing States was to be expected,and the figures bear out the supposition. Alabama shows 65 per cent in checks and orders, Georgia 70.2 per cent, and Texas 67.5 per cent. The same is true in general of the great wheat-growing States of the Northwest. Eeferring to Table III, it is found that the highest percentage of checks is in the South Central division and the lowest in the North Central division. Grouping the division of States somewhat differently, it is found that the percentage of retail transactions done on credit is larger in the South Atlantic and South Central divisions than in the North Atlantic and North Central divisions, while the Western group of States is intermediate. It is commonly assumed that the use of checks and other credit instruments increases with the population. While it is not safe to draw any very definite conclusions from the results of a single investigation, and that, too? so defective as the present one necessarily was, yet there are some indications from the returns that the above assumption is not in strict accordance with the facts. It would rather appear that the rate of increase in the use of credit instruments in retail transactions decreases relatively to the growth of population after a certain density of population is reached. The returns from States grouped according to population, as in Table II, seems to show this, and the returns from the cities appear to bear out the conclusion. The same relation holds for the population groups of Table III. The conclusion holds when the groups in the tables are arranged either in the simple order of population, or in the order of the density of population in the groups. The results for the cities, grouped according to population, is shown in Table IY. In the first class there are represented 4 cities whose population is 500,000 or more; the second class contains 11 cities whose population is between 200,000 and 500,000; the third class 10 cities of between 100,000 and 200,000 population; the fourth class 25 cities of between 50,000 and 100,000; the fifth class 41 cities of between 25,000 and 50,000; and the sixth class 59 cities of between 10,000 and 25,000. The percentage of checks falls from 66.1, in the group of cities of 10,000 and over to 53.0 in the cities of 25,000; rises again to 70.9 in the cities of 100,000 and more, and gradually falls to 55.9 when the cities of 500,000 are reached. It will be seen from these figures that the movement of the use of checks in the cities of the country corresponds approximately to the movement in the country at large. The data are not sufficient for the foundation of a law, but they indicate that the conclusion stated above 22 REPOKT OF THE COMPTROLLER OF THE CURRENCY. as to the relation of the extent of the use of checks to the population may be true. The most important practical question connected with the investigation is whether or not the returns throw any light on the legitimacy of the continual demand for more money in certain sections of the country. Bearing in mind the difficulties which always interfere with the drawing of fair conclusions from incomplete data, it may be said that, so far as they go, the returns do not fully justify, if at all, this demand. There are wide differences as to the extent of the use of credit instruments in retail business between States of the same general character of population and economic condition, but it would seem, from such results as this investigation show, that if there is a real demand and necessity for a continuous larger medium of exchange, the satisfaction of that demand could and would be met by an increase in the use of credit instruments. It is fair to presume that their use would follow, as the absolute business needs of the people are always properly met by those engaged in carrying on business of each community. That it is not so met is evidence that the need is not as real as many would suppose from the constant demand made upon Congress to simply increase the volume of the currency. Moreover, if that argument, which is based solely upon the demand for more money, were in any large measure sound, it would amount merely to a demand for an increase in the use of credit, since the purpose served by bank notes in the majority of instances could be equally well served by bank discounts and credit deposits 3 in other words, by the use of checks. There are certain other items of interesting information furnished by the investigation. One is the distribution of the different kinds of money in the country. It is a commonly observed fact that gold coin in ordinary daily transactions is common in some parts of the country and scarce in others; that silver and silver certificates are used to a relatively much larger extent in some sections than in others, and finally that Treasury notes and national-bank notes also have a pretty well defined area of circulation. Thus we find gold used in retail transactions more largely, for example, in California, Colorado, South Dakota, Oregon, Minnesota, Missouri, Nebraska, Texas, Washington, and Wyoming than in the other States. Silver and silver certificates constitute a larger part of the paying medium in retail business in Alabama, Arkansas, North Carolina, Connecticut, Delaware, Florida, Georgia, Kentucky, Maryland, Ohio, and Texas than in other States. Treasury and bank notes enter more largely in Massachusetts, New York, Maine, Michigan, Indiana, Illinois, North Dakota, Kansas, and Iowa, but the data are not very satisfactory. The distribution of money in a country is a matter of no little interest and importance, concerning which information is very desirable. The returns do not throw any new light on the length of the period of credit in retail transactions, It varies from a few days to six or nine months, and in some cases a year, the longer period being in the agricultural districts. Moreover, there is no uniformity among retail tradesmen even in the same locality. In the 23 largest cities of the country the average period of credit varies from one and one-tenth, to one and four-tenths months. The returns are therefore too meager to furnish any satisfactory conclusion of a general nature in so complex a matter. As to the method of payment of wages, the custom varies greatly in different States. So far as the results show in those States whose population may be roughly described as being of medium density, wages are paid more largely by checks than by cash. In the most 23 REPORT OF THE COMPTROLLER OF THE CURRENCY. tMckly settled States, however, the opposite is true. Cash is used, of course, more largely than checks for this purpose in States which have a considerable number of large cities and whose industrial character is manufacturing. As illustrating these points, the following table is given, showing the ratio between the number of banks which report that wages are paid by checks to the number which report payment by cash: States. Arizona . . . Alabama .. California . Colorado .. Florida Idaho.----Illinois Indiana Iowa . Nebraska, New Hampshire New Jersey New Mexico New York Ohio. Oklahoma Pennsylvania Ehoclo Island 3 to 1 I Indian Territory \ 0.4 to 1 I Kansas 0. 5 to 1 Kentucky 9.7 to 1 Maryland 0.3 to 1 Massachusetts . 0. 75 to 1 Michigan 1.5 to 1 Minnesota 0.22 to 1 Missouri , 1.2 to 1 Montana i4 to 1 South Dakota .. 0. 2 to 1 Tennessee i 0.3 to 1 Texas. . j G to 1 Utah | 0.17 to 1 Vermont i 0. 2 to 1 Virginia | 0. 7 to 1 Washh I 0. 43 to 1 Wisconsin:.----\ 0. 09 to 1 Wyoming Ilatio. -. I 0. 25 1.7 0. 44 0.07 0.15 ! 2 :|J-7 1.8 0.5 1.2 I 1.5 ! 0. 07 i 0.7 i 2. 5 \ 0. 8 ' 8 to 1 to 1 to I to 1 to 1 to I to I to I to L tot to I to I tol to I tol to 1 tol to 1 The figures in the above table show the proportion of those banks reporting that ifc is the custom in their community to pay wages by checks. Besides these a considerable number of banks report that in their localities wages are paid about equally by checks and by cash. This is true principally of New York and Pennsylvania. One or two banks note the interesting fact that since the currency dearth in 1893 the custom of paying wages by checks has grown in their localities. On the other hand, one or two report that they discourage the practice of payment by checks. A question was inserted in the blanks sent out asking whether in the places in which wages are paid by checks the employes, as a rule, present their checks for payment at* the banks or have them cashed by the merchants. The purpose of this question was to get some information as to how far wage payment by check diminished the amount of money which the banks have to carry to meet drafts for pay rolls. Evidently if the employes immediately carry their checks to the banks the situation is not different from what it would be if the employers draw the amount of their pay rolls from the banks and pay the wages in cash. If, however, the employes paid part of their bills with the checks by presenting- them to the merchants, obviously they would entail a smaller draft on the cash in the banks. The returns, so far as they indicate anything, show that about half the pay checks are cashed by the banks and half by the merchants, the proportions, according to 650 replies, being 327.by the banks and 300 by the merchants. There are several interesting facts of minor importance given in the returns. A fact, noted by several banks, was the influence of the railroad strike of last summer. In some cases the receipts of thebanks had fallen off almost entirely for several days, including that selected for securing the statistics asked for. Still another fact brought out clearly, although, of course, it was known with more or less certainty before, is that a considerable number of banks, especially in the large cities, have no depositors in retail business at all. In New York City, for example^ 24 REPORT OF THE COMPTROLLER OF THE CURRENCY. 24 banks report that they have no such deposits or only an exceedingly small amount of them. This fact has an important bearing on the apparent discrepancy between the percentage of checks reported in the returns of this investigation and those secured by the Comptroller of the Currency in previous investigations. The present inquiry has to do with the checks used in retail transactions only. Previous inquiries have dealt with the amount used in all transactions. It has been pretty generally agreed among economists tnat the percentage (between 90 and 92 per cent) of instruments of credit shown by previous investigations to be used in the business of the country was so large because it represented, to a great extent, wholesale as well as retail operations. The advocates of a large volume of money, not inherently sound money, have used this belief to offset the statement that credit is a more important determining cause of prices in modern business than money. The results of the present inquiry, however, are, on the whole, in the line of the former conclusions as to the importance of credit instruments in payments and exchanges generally, and against the necessity of any additional provisions for simply an increase in the volume of money without taking into consideration the other and more mportant elements which should characterize our currency circulation. THE NUMBER OF DEPOSITORS IN THE NATIONAL BANKS. The office having obtained such information as it could relative to the subject just treated of, it seemed that facts showing the use of the national banks by the general public as banks of deposit would be of interest. Such facts would not only show the great numbers of the people who were making use of them as a means of safe keeping for their cash assets and the importance to them of having them properly dealt with, but would further tend to show why so many credit instruments, such as checks, were in daily use. It is fair to presume that as a person becomes a depositor in a bank he is more given to the use of checks upon his bank of deposit in making payment of indebtedness than to the use of actual money. As the number of depositors in banks increase such method of payment will correspondingly increase, and the need of the enlargement of the volume of the circulating medium of the country fall away. The depositing of money in bank and the checking against it makes every dollar of the currency an efficient one, in that each dollar is made to support many transactions each day instead of but a single one, as is the case where each transaction is carried on by the payment of actual cash. In the appendix will be found the statement showing in detail the number of depositors in national banks on July 18, 1894, together with aggregate amounts to their credit. It is so arranged as to show— Depositors having less than $1,000 to their credit, Depositors having more than $1,000 and less than $2,000, Depositors having $2,000 and less than $10,000; and Depositors having $ 10,000 and over. The statement is made up by geographical divisions, giving the number of banks and the number of depositors in each class and aggregate of deposits to the credit of each class, together with a grand aggregate of the number of depositors and the total amount of their deposits, as follows: States, reserve cities, and Territories. j Total inumber; Number of banks Under $1,000. Number. Division 1: Maine, New Hampshire, Vermont, Massachusetts (Boston), Rhode Island, Connec ticut Division 2 : New York (New York City, Albany, Brooklyn), New Jersey, Pennsylvania (Philadelphia, Pittsburg) Division 3: Delaware, Maryland (Baltimore), District of Columbia (Washington City), Virginia, West Virginia Division 4: North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana (New Orleans), Texas, Arkansas, Kentucky (Louisville), Tennessee Division 5: Ohio (Cincinnati, Cleveland), Indiana, Illinois (Chicago), Michigan (Detroit), Wisconsin (Milwaukee) Division 6: Iowa (Des Moines), Minnesota (St. Paul, Minneaj)olis), Missouri (St. Louis, St. Joseph, Kansas City), Kansas, Nebraska (Lincoln, Omaha) Division 7: Colorado, Nevada, California (San Francisco), Oregon, Arizona Division 8: North Dakota, South Dakota, Idaho, Montana, New Mexico, Utah, Washington, Wyoming, Oklahoma, Indian Territory ... United States Amount. il.000 and less than $2,000 and loss than ! $10,000 a n d over. $2,000. $10,000. Number. Amount. Number. Amount. Number. Total. Amount, i Number. Amount. fed o 593 588 175.916 !$35, 978, 041 I 14,585 $20, 324, 691 837 805 576,030 102,252,901 166 162 114,246 483 733 14, 933 $64, 080, 653 4,571 |$154, 559, 628 210,005 $274,943,013 31,920 132,064, 045 9,777 458,189,] 99 651,628 739, 688, 036 H O 33,901 47,181,891 17, 375,228 5,538 7, 724, 277 4, 607 17, 607,444 790 20, 653, 792 125,181 63, 360, 741 135, 522 18, 245, 336 5,679 7, 768,100 4,867 18, 829, 317 828 | 24,407,726 146, 896 69, 250, 479 381, 314 66, 609, 567 20,709 I 28,038,260 16, 601 66, 628, 376 4,240 1146,213,465 422,864 o o I o 307,4 pi 582 215,255 123 18, 900 199 56, 894 12, 801,114 7, 541 30,090, 622 1,683 10, 278, 863 ! 3, 806 | 5,164, 514 2,727 10, 318, 089 523 15,439,267 | 1,890 ', 254, 599 326 7, 559, 369 33, 515, 935 10, 635 47, 324, 807 o 235,114 123,732,478 75,956 41, 200, 733 ffi 27,351,981 d I 213 9, 013, 990 3.770 j 3,650 jl, 724, 077 [293,269,861 2,586 I 3,524,023 I 97,439 |l32, 526, 870 | 85,086 1346,873,145 61,696 | 22,738 874,347,253 jl, 929,340 I 1,647,017,129 26 REPORT OF THE COMPTROLLER OF THE CURRENCY. The information above set forth was procured from the banks reporting at the same date as their report of condition made to the Comptroller for July 18, 1894, and is complete as to all the 3,770 doing business on the date named, except as to 120, which failed to make any report. The failure of these 120 banks to furnish this information, taken in connection with the fact that some of the banks reporting failed to include certificates of deposit, which are included in the item of individual deposits shown in the aggregate of their liabilities, will account for the difference of $30,784,071 between the aggregate of individual deposits shown by this statement, and the aggregate of this item shown in the statement of resources and liabilities of the banks on July 18, 1894. Considering the aggregates shown by this statement, it is found that 3,650 banks held deposits to the amount of $1,647,017,129, deposited by 1,929,340 depositors, or an average of 528.5 depositors to each bank. The following table indicates by geographical divisions the average number of depositors, and the average amount for each depositor of each class: and less $2,000 and less Under $1,000. $1,000 than $2,000. than $10,000. u Geographical divisions. is o | anio dep © . © o T)i\ ision 1 Tin ision 2 D h ision 3 D i v ision 4 . P n ision 5 Di% ision 6 ision 7 B i v ision 8 299.2 $205 © n II 5 > o 1 < BS o 9 ft © u '"k > o O -T-l +-> 24.8 $1, 394 42. 1 1, 392 19 1 30.9 13 1 354 1 204 1, 357 363 20.7 1, 360 715. (3 178 152 135 175 156 149 158 34.2 1, 395 11 7 1 368 , 705.2 280 6 520. 2 386 5 500. 2 285. 9 United States 472.3 170 $10,000 and over. O To tal. © q g| 0 3 0 f © 0 ?, j 1 4, 0 D ft © 0 © © © © <° 25.4 $ 4 , 291 39. 6 4, 137 822 28.4 869 10 1 22.6 4 014 13 5 ? 990 3, 784 9.5 3i 838 23.3 4 077 ' 7. 7 $ 3 3 8 1 3 12. 1 46 864 4. 9 26, 144 ] 7 478 5. 8 34 484 ^>8 119 9 521 1. 6 23, 188 0. 2 38, 453 357.1 809.4 772.7 304.1 576.8 422. 1 617.5 $ L, 3 0 9 J35 506 471 797 526 54^> 310 443 528. 5 853 An analysis of the table shows that in the class under $1,000 the average amount for each depositor varied in different sections of the country from $135 to $205; in the class $1,000 and less than $2,000, from $1,204 to $1,395; in the class $2,000 and less than $10,000, from $3,784 to $4,291 • in the class $10,000 and over, from $23,188 to $46,864. It will be seen from these figures that, with the exception of the class of $10,000 and over, which has the smallest number of depositors, the variation as to the average amount for each depositor in the different sections of the country is but slight. A comparison of the average number of depositors in the different geographical divisions shows the variations to be much greater. The average of the total number of depositors is lowest in division No. 4, viz, 304.1, and highest in division No. 2, where it was 809.4. These wide variations are largely accounted for by the extensive banking facilities furnished by banking institutions outside of the national system. For instance, in division No. 1, comprising six Eastern States, the average number of depositors in 5S8 national banks is only 357.1, but from tables appearing elsewhere in this report it will be seen that there EEPOUT OF THE COMPTROLLER OF THE CURRENCY. 27 are also in this division 540 State banks, loan and trust companies, and savings banks. Taking divisions Nos. 2 and 3 together, having the highest average total number of depositors in 1,003.national banks, viz, 809.4 and 772.7, respectively, it is found that in the States comprising these two divisions there also are 811 State banks, loan and trust companies, savings and private banks. In division No. 4, comprising 11 Southern States, we find the lowest average total number of depositors in 497 national banks, viz, 304.1, there being also in these 11 States 606 State, etc., banks. In division No. 5 the average total number of depositors in 754 national banks is 576.8, there being also in this division 986 State, etc., banks. In division No. 6 the average total number of depositors in 582 national banks is 422.1, there being also 2,155 State, etc., banks. In division No. 7 the average total number of depositors in 128 national banks is 617.5, there being also 313 State, etc, banks. In division No. 8 the average total number of depositors in 213 national banks is 310, there being also 347 State and other banks. In conclusion, it is shown by the table referred to that 3,650 national banks held $1,647,017,129, deposited by 1,929,340 depositors, or an average of 528.5 depositors to each bank. Applying this average to $1,225,452,821 of deposits held by the banking institutions other than savings banks operating outside of the national system, it is found that such banking institutions held deposits made by 1,436,638 depositors. The latest returns to this office made by savings banks show that they held $1,747,961,280, deposited by 4,777,687 depositors. A tabulation of this information is shown herewith: Deposits. National banks State and private banks, loan and trust companies.. Savings banks Total . Number of $1 647 017, 129 1 225, 4f>2, 821 1, 747, 961, 280 1, 929, 340 1, 4156, 638 4, 777, 687 4,620,431,230 8,143, 665 It is found that all the banks and banking institutions in the country, from which figures were obtainable at the latest dates, held deposits to the enormous sum of $4,620,431,230 deposited by no less than 8,143,665 depositors. After making due allowance for the fact that the same person may have deposits in more than one bank; further, that 120 national banks doing business on July 18, 1894, failed to make any report; that the number of depositors in State and private banks and loan and trust companies was estimated from the average number of those in national banks, it is not unreasonable to conclude that the banking institutions of the country are patronized and used by no less than about 9,000,000 depositors, or about 1 person out of every 7 or 8 persons-in the total population of the United States. No better evidence of the valuable and generally diffused service rendered to the public by banks in general can be deduced than that shown by the figures here presented, and no stronger argument could be adduced to warrant the most careful and statesmanlike consideration of any measure affecting them. The facts as they are demonstrate how many people have a material interest in them and how many branches of trade and commerce are touched by any banking legislation which is placed upon the statute books. 28 REPORT OF THE COMPTROLLER OF THE CURRENCY. REVENUE TO THE GOVERNMENT. The interest awakened by a discussion of a general revision of the present national banking system makes it proper to consider in this report how far the national banks have been a source of revenue to the Government. Congress has considered the capital, deposits, and circulation of these banks as legitimate subjects of taxation. The act of March 3, 1883, relieved the banks of further taxes on the first two items, but left the 1 per cent annual duty on circulation undisturbed. No subsequent changes have been made affecting this law. The total tax collected on capital amounted to $7,885,887.74. The banks have paid taxes on their deposits to the amount of $60,940,067.16. Up to June 30, 1894, the end of the last fiscal year, the national-bank circulation had yielded a revenue amounting to $75?834?997.17. Estimated at the same rate as for the year prior, the taxes on circulation from June 30 to October 31 would yield an additional revenue of $573,698.39. National banks are also assessed for a sufficient amount to cover the redemption of their circulating notes by the United States Treasurer, the preparation of the plates from which these notes are printed, and the fees of the national-bank examiners. These items amounted to $367,836.93 during the past fiscal year, but they should not be regarded in this calculation, as no part of this amount is retained in the public treasury. Whatever amount of bank notes remain eventually unredeemed will be an additional source of profit, as the banks are required to pay into the Treasury lawful money to the full amount of their circulation before they are allowed to withdraw their deposits of United States bonds. From the best obtainable figures, it appears reasonable to suppose that a small amount of notes will not be presented for redemption. Although some of the national banks ceased doing business over thirty years ago, each bank still has currency that has not been presented. Something like 2 per cent of the old State-bank circulation was not redeemed. A careful examination of the currency accounts of the liquidated national banks shows that the percentage of national-bank currency probable to be unredeemed will be very much smaller. From present indications, it seems probable that about two-fifths of 1 per cent of the national-bank notes that have been in actual circulation will remain unredeemed. On October 31, 1894, this amount was $691,706,231. At the average rate of redemption there will remain as profit to the Government from this source $2,766,824.92. The average cost of redemption has been about $1.37 per thousand. On October 31, 1894, the amount in the Treasury to the credit of the national-bank redemption account was $35,883,967.73. Hence it will be seen that the profits from unredeemed circulation are already available. The revenue from these banks was as follows: From taxation From unredeemed circulation Total $145, 234, 650.4 2, 770, 615. 4 148, 005, 265. 93 From this should be deducted the Government expense of this office, including the additional expense, which has been carefully estimated on the basis established by former Comptrollers, and the total brought down to the close of the report year, amounting to $15,365,963.75. This leaves the net x>rofit derived from the national banks at $132,639,302.19. REPORT OF THE COMPTROLLER OF THE CURRENCY. 29 As Government depositories, the national banks have received, stored in their vaults, and accounted for $5,356,625,891, without expense to the Government. Allowing the rate of three-eights of 1 per cent as a reasonable compensation for such services, which is the same as that fixed by the act of March 3, 1875, as the compensation of disbursing officers for public buildings, it would amount to $20,087,347. No attempt has been made to compute the expense for transportation charges during the thirty years, had it been necessary to transfer the moneys to the various sub treasuries instead of depositing them in these national banks, owing to the impossibility of obtaining the necessary information upon which to base an estimate. A casual investigation shows that this item would have amounted to a very large sum. The saving in expense, irrespective of transportation charges, added to the net profits detailed above, makes a total of $168,092,616 as the measure of the direct benefit the United States Treasury has actually received from the national banks. SERVICE TO THE PUBLIC. The amount of revenue received directly by the Government from the tax imposed by it upon the banks, and the savings to it, as stated, have been but a part of the benefits conferred upon the people through a well organized, uniform, and carefully conducted banking system. The aid rendered the individual in the carrying on of his business undertakings has been far greater than any revenue paid to the Government or service given it. The indisputable facts are that since the inauguration of the present system four great points of advantage and saving have been gained to the general public. First. The saving in heavy discounts on the bank currency prevalent before the establishing of the national-bank system. Second. The saving in rates of interest on loans and discounts. Third. The saving in the making of exchange. Fourth. The saving to customers in charges for making collections. It is unnecessary to elaborate at any great length either of the above enumerated propositions, and yet something pertinent to each may be said that will give a clearer understanding of just what has been gained by a system under the general supervision and control of the Government. It is not impossible, and it may be not improbable, that the same results might have followed, with imj)roved business methods and keener watchfulness, the conduct of systems of note issue and banking not uniform and not under the same supervision, but the facts are that so far as the experiment has been tried, the one system has been wholly successful in its operation, and the other, at the best, was but partially so, and at its worst highly disastrous to all concerned. The saving of loss from discounts on circulating notes of banks not uniform was quickly realized by the public at large. Prior to the issuing of national-bank notes there were as a part of our circulating medium approximately $200,000,000 of State-bank notes. The loss in discount upon these varied in different sections of the country, and was in a large measure controlled by what was known of the financial standing of the issuing bank. The loss to the note holder, however, was from 1 to 5 per cent, and not infrequently 10 per cent. In many cases it was an entire loss. Whatever may be the defects of the present note issue of the national banks, it is at least uniform in appearance and value, and by law the note issued by every bank in the 30 REPORT OF THE COMPTROLLER OF THE CURRENCY. system is receivable at par by every other bank in it, and redeemable in lawful money at the bank of issue or at its designated redemption agency. The saving in rates of interest on loans and discounts has been brought especially to the South, the West, and the Northwest, where the necessary capital for banking purposes was very scarce and at the same time very greatly, needed to develop the great natural resources of these sections of the country. The provisions for the same governmental supervision of the national banks and uniformity of method with which the capitalists in the East and North were familiar undoubtedly was an important factor in engaging their capital, which, owing to its plentifulness at home was bringing to them either no interest or very low rates in banking enterprises in the sections named. The evidence of the extent of this investment is found in the fact that in 1889 nearly one-third of the capital stock of 520 national banks in Iowa, Minnesota, Missouri, Kansas, and Nebraska, was contributed by Northern and Eastern shareholders, while in Dakota, Idaho, Montana, New Mexico, Utah, Washington, Wyoming, and Arizona more than one-half of the capital stockofl44nationalbanks was held by nonresident shareholders. In the States of Virginia, West Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana, Texas, Arkansas, Kentucky, and Tennessee, of the shares of 410 national banks a little more than one-sixth of the total was held by nonresident shareholders. The investments of this character made by nonresidents since the dates given has been at least as large, if not larger, than prior thereto, but the figures are not now at hand to state with accuracy the proportion. The facts gathered, however, form of themselves such data upon the point made as to make it worthy of consideration. The increase in the supply of loanable funds thus furnished necessarily had the effect of lowering the rates of interest on loans and discounts below the level of those previously prevailing. The general confidence inspired by a central and uniform governmental supervision and examination, the frequent publication of sworn reports of condition, the double liability of shareholders, the percentage of reserve to be held against deposits required, and the necessity of having the bank's funds invested in quick assets, rather than tied up in real estate investments, operated to attract all over the country to these banks the deposit of funds in large and small amounts, upon the greater portion of which no interest is paid for temporary safe-keeping. To the extent that these deposits were made was the loaning capacity of the banks added to and the idle capital in each community brought into use. It can be easily calculated what the effect of rendering available so much imported and home capital was toward lowering rates of interest, when it is known that on October 2 last the individual deposits held by national banks amounted to $1,728,418,819. As banking methods have improved and safety made more certain, under the effects of uniformity and general supervision, the lessening of the rates of exchange has steadily gone on, thus giving business interests the benefit of saving in an item in the transfer of funds that prior to 1860 assumed very large proportions. At present, to transmit $1,0(30 from New Orleans to New York it is but necessary to purchase from the bank at New Orleans its check payable to the purchaser's order on its correspondent bank in the latter city, and this may with perfect safety be transmitted to New York or any other point in the Union. At certain seasons of the year the purchaser will procure the REPORT OF THE COMPTROLLER OF THE CURRENCY. 31 draft at par, at others at a slight premium of one-tenth or one-eighth of 1 per cent. In 1859 the average rate of exchange on New York from points in the South and West is reported as from 1 to 1J per cent, while the current rate in the State of New York in 1860 was one-half of 1 per cent. The exact figures which represent the grand total of exchange between national banks alone are not to be secured, but figures obtained by the Comptroller in the year 1878 showed an estimate at that time of nearly $3,000,000,000 as the amount of exchange drawn annually upon New York alone by Southern and Western States, and not less than $4,000,000,000 as the amount drawn annually by the same States upon points in the East, including New York. The volume of business done by the national banks has greatly increased since 1878, and a corresponding increase must be made in the estimate then given for the purpose of approximating the measure of saving to the public effected merely through exchanges. As a very large proportion of clearing-house exchanges consist of checks drawn by banks located at a distance from the clearing houses, an examination of the volume of these clearing house transactions will convey some idea of the great volume of exchange effected between banks at distant points. The clearings in New York city alone for the thirty years ended in 1894 aggregated the sum of $949,000,000,000, while the clearings for all the clearing houses in the United States for the single year 1894, and that a year far below the average, were $45,000,000,000. It is impossible to ascertain in exact figures the saving to bank customers in the collections made for them free of charge, of notes, drafts, and other evidences of indebtedness. No statistics showing the money value of these services have ever been gathered, but the continual presence of these collection items in the files of every bank in the cou-ntry furnishes abundant proof upon this point. AMENDMENTS RECOMMENDED. The act enumerating the duties of the Comptroller of the Currency specifically requires that in his annual report u to Congress at the commencement of its sessions he shall suggest any amendment to the laws relative to banking by which the system may be improved and the security of the holders of its notes and other creditors may be increased." In compliance with the foregoing there were submitted at the last session of Congress certain recommendations looking to the amendment of existing laws. As yet the suggestions then made remain unacted upon, and therefore they are resubmitted. It is unnecessary to here set them forth in detail or again give the reasons then assigned in support of them. In a general way it may, however, be stated they cover the following points: That associations, if the present law is not changed as to a bond deposit, be authorized to issue circulating notes equal to the par value of the bonds deposited; that the semiannual duty on circulation be so reduced as to equal one-fourth of 1 per cent per annum; that the Comptroller, with the approval of the Secretary of the Treasury, be empowered to remove officers and directors of national banks for violations of law; that loans of any bank to its executive officers or employes be restricted; that the assistant cashier under pertain conditions be authorized to sign circulating notes; that some class of public officers be empowered to administer the general oaths required by the national 32 REPORT OF THE COMPTROLLER OF THE CURRENCY. bank act; that bank examiners be required to take an oath of office; that the Comptroller be empowered to fix their compensation, and that provision be made for supervising examiners. It is believed the taking of proper legislative action upon these proposed amendments would be for the betterment of the system and promotive of the public good. The amendments thus suggested, however, affect in the largest degree only the administrative features of the present national-bank act, and are of less relative importance than the remedying of any defects which may exist in the note-issuing power vested by it in the banks. No section of the law should be disturbed which can not be materially improved upon and no amendment engrafted unless such amendment will work out better results than How from the existing order of things. The present law, it must be conceded, has been successful in every material feature, excepting in the matter of bank-note issue, and here the failure has been but a partial one. The notes issued by the banks under governmental supervision have been uniform in appearance and under any and all circumstances of the full face value which they purport to carry. They have possessed the first requisite of a good banknote issue—immediate convertibility into coin upon presentation. It is probable that there could be no better plan for simply insuring the note holder against loss than the present requirement of a deposit of bonds to secure a bank's circulation, but it is equally certain, however, that a method could be devised not less safe in this respect and in addition thereto possessing that which is as essential and is now wholly wanting—elasticity of issue. The complaint therefore made against the present system is that lacking in elasticity of issue it fails to meet as fully as it ought the varying wants of the country's trade and commerce. This defect must attach to every scheme for currency issued by the banks against a dej)osit of bonds, the market value of which fluctuates while the percentage of issue, less than the value of the bonds, granted the banks remains unchanged. It must also be wanting in such a method because of the delay, in the face of a pressing need, occasioned by a tight inoney market or other reason, in securing and depositing the bonds required and taking out the circulation thereon. But serious as is this fault, and retardful as it is to the business interests of the country, any attempt to remedy it which should lose sight of or in anywise make less certain the present unquestioned credit and convertibility of the bank issues of the country could not be justified. It is a duty of governments to see that the currency which circulates among the people ought always to be of the very high* est character, and the soundness of which should never be a subject ot inquiry. For thirty years the American people have had such a bank currency, and having seen the value of it, both here and abroad, they will not be content to have any innovation made unless such new departure insures not only equal but better results. It is respectfully suggested that not only as good but better results would be obtained if the present banking act were amended by repealing the pro vision thereof requiring each bank, as a prerequisite to entering the system and issuing bank-note currency, to deposit Government bonds. In lieu of such provision should be substituted one permitting the banks to issue circulating notes against their assets to an amount equal to at least 50 per cent of their paid-up unimpaired capital. In order to guarantee the note holder against loss on account of the issue of any insolvent bank, a safety fund should be provided by graduated REPORT OF THE COMPTROLLER OF THE CURRENCY. 33 taxation upon tlie outstanding circulation of the banks until the same should equal not less than 5 per cent of the total of such outstanding circulation, such fund to be held by the Government as an agent only and for the purpose of immediately redeeming the notes of such insolvent bank. It should be as speedily as possible replenished by a first and a paramount lieu out of the assets of the bank and the shareholders' double liability. The redemption of such notes should be immediate upon indentation. Whatever other changes, if any, it would be necessary to make in the present system relative to current redemption of bank notes, and the Government's position relative to the same and kindred matters, it is unnecessary to here set forth. If the recommendation here made, together with that which will follow, should receive consideration at the hands of Congress, a bill drawn after careful study and investigation of the whole subject would necessarily embody all the details incident to a change from a bond to a safety-fund security as a basis for bank circulation. Before presenting what seems to the Comptroller to be as important a phase of the question under discussion, and one which, if properly worked out, would be of great benefit to the General Government, it is pertinent to state that the change in the form of security for bank-note issues proposed was sanctioned not only by the American Bankers' Association, which recently met in Baltimore, but is indorsed by many of the leading financiers and students of political economy in this and other countries. It is embodied in the Canadian bank system and, in part at least in the Scotch, English, and German systems. It is safe to say that a note-issuing bank's best assets are its good business notes falling due and paid each day, and that the loss attendant upon notes ssued and circulated against such assets under systems permitting it has been comparatively nothing. Only by issuing against them instead of against a bond security can any degree of elasticity in the note-issuing function be attained. It certainly can not be reached in the present hard and fast line fixed by existing law. As an aid in arriving at the proper per cent of taxation necessary to raise a fund sufficient to redeem the notes of failed banks and the expense incident to the conduct of the office of the Comptroller of the Currency the following, taken from official records, is submitted: Average annual circulation of national banks, 1864 to 1894 $282, 801, 252 Outstanding circulation of failed banks 17, 819, 541 Cost to General Government on account of national banks, as shown by the books of the Comptroller's office 7, 610,169 Additional estimated cost 7, 732, 914 Tax of one-fourth of 1 per cent for thirty-one years Tax of one-fifth of 1 per cent for thirty-one years 15, 343, 083 21, 917, 073 17, 533, 674 It will thus be seen that a tax on national banking circulation of one-fifth of 1 per cent would have repaid the cost of the national banks to the General Government, and also that a tax of one-fourth of 1 per cent would have redeemed the notes of all failed national banks; in fact, a tax of two-fifths of 1 per cent would have been ample to meet both the cost of that system and the redemption of the notes of failed national banks. Under the existing laws, the Government standing responsible for the redemption of the circulation of failed national banks, up to January 1 last, had there been no bond deposit whatever, the loss to it would have been but $1,139,253, and of this amount 8182 CUR 3 34 REPORT OF THE COMPTROLLER OF THE CURRENCY. $958,247 represents the loss by banks whose trusts are still open and will pay further dividends, thus reducing the amount last named. In considering the question of the benefits to the public of a bond deposit on the part of the banks it ife well to remember that the comparatively few failures on the part of national banks have not been because of any security given by them for their circulation, but because of prudent and honest management on the part of those in charge of them, and the careful supervision and examination of them by the officers of the Government. Under the same character of management and the same superintendency and watchfulness on the part of the Government, failures will be not more numerous under a change in the respect named, and therefore the deductions made from the facts of the past are a safe basis for calculations as to the future. The changes thus outlined will upon investigation, it is believed, prove to be safe in affording complete security to the note holder and give to the business interests of the country a note issue responsive to their needs. Within the measure of percentage of issue against assets granted the banks will be such range as will enable them to keep out sufficient currency to meet the ordinary demands of business and to speedily take out whatever extra amount is necessary to meet extraordinary occasions. It will not permit of an overissue if the notes issued under such system are convertible in coin on demand and the proper and speedy redemption of them is afforded. The business world will use just such amount of them as is necessary to carry on trade, and the remaining ones, it being unprofitable to have them in circulation, will at once return for redemption. The profit upon the issue of circulation to the banks by such change would be so augmented that it is giving to them a franchise for which it is suggested they should be called upon to make proper return to the General Government. This return should not, however, be of such a character as to defeat the ends sought in the privilege given. For a long time the chief source of embarrassment to the General Government and the cause of so great uncertainty in the business conditions of the country is the continual danger threatened by the use made of the currency issues of the Government, and the inability, when the revenues of the Government are inadequate, to maintain, except through bond issues, such a reserve of gold coin as is required by law. .The current redemption of the legal tender issues and the Treasury issues under the act of 1890, and the reissuing instead of cancellation of the same, must always create distrust of the Government's credit abroad and at home, so long as the laws now upon the statute book remain unchanged. The General Government ought to be wholly free from direct issuing and redeeming of notes to pass as money among the people. No Government yet has ever successfully engaged in so doing, and the experience of the United States has proven no exception to the rule. The general cost and loss entailed upon the Government, the repeated periods of uncertainty as to its credit, and the stability of our monetary system have been so great as to make the legal tender and Treasury issues of 1890 one of the extraordinary burdens placed upon the people. The relief given in increasing the volume of the circulating medium has been as nothing compared with the expense incident to maintaining the reserve in gold at all hazards necessary to keep intact the Government's credit and provide for their current redemption. These issues ought to be redeemed and canceled, and the Government thus enabled to retire from the banking business—a business for which it is so poorly adajvted and equipped. The intention of those REPORT OF THE COMPTROLLER OF THE CURRENCY. 35 who first authorized the legal-tender issues was that it should so do at the earliest practicable moment, and the discussion then carried on iu Congress is replete with such protestations. The first Congressional enactment signed by President Grant after his inauguration as Chief Executive was one reasserting the determination of the Government to preserve unquestioned the public faith, and the closing clause of it was " And the United States also solemnly pledges its faith to make provision at the earliest practicable period for the redemption of the United States notes in coin." In the light of the present condition of the Government's finances, that which ought to have been done when there was a surplus in the" Treasury can not now be undertaken, and the same conditions must continue to weaken the country's credit aM plague the lines of business unless a means is devised for removing these issues from the channel of current redemption until such time as the Government finds itself in position to do that which at first was the intent of all— gradually redeem and cancel them. If the franchise is granted the banks of issuing circulating notes against their assets instead of against a bond security, i t is suggested that the banks in return should recompense the-Government by relieving the Treasury Department of the current redemption in coin of the present Treasury issues. The ultimate redemption, of course, must fall upon the Government, but the embarrassment does not arise from their ultimate redemption but from their current. It is therefore suggested that if Congress shall repeal the provisions of the present act requiring the national banks to make a deposit of Government bonds in order to secure circulating notes, and substitute therefor a provision giving them instead the right to issue the same against their assets, it incorporate therein and as a part thereof that as a prerequisite to so doing the banks be compelled to deposit with the Treasurer of the United States legal-tender issues, or issues under the act of 1890, equal in amount to the difference between the percentage of their capital stock of issues granted against their assets and the total of such (capital stock. The deposit thus made ought to remain with the Treasurer until the bank ceased either through voluntary or involuntary liquidation to do business, and in either case the Government ought to then redeem and cancel such Treasury issues deposited. It is only by such permanent deposit during the life of the bank that the issues named can be removed from current presentation for redemption. As against this deposit of legal tenders and Treasury notes so made there should be issued to the banks dollar for dollar of national-bank notes, either of the same or different design, as might be deemed best, that thus fixed the volume of the currency, as it is now contributed to by the issues of the Government, would not be contracted so long at least as the banks making such deposits are in existence. The bank notes issued under the plan suggested should be exempt from any tax levied on circulation to the same per cent that legal tender notes and Treasury issues, under the act of 1890, are deposited against circulation. If 50 per cent of the circulation is so based then 50 per cent of the circulation should be exempt from circulation tax. To an equitable percentage the bank should Jbe permitted to hold these notes as a part of their reserve against deposit as they in part, would be based upon a deposit of lawful money, which, under the present system, is the money which must constitute such reserves. The law should make it incumbent upon the banks to deposit in the Treasury for the current redemption of such notes gold coin to an 36 REPORT OF THE COMPTROLLER OF* THE CURRENCY. amount necessary to make sure the current redemption of them. The Government should not undertake or in anywise become responsible for the current redemption of these notes, Its responsibility should end with its redemption of the notes deposited to secure such circulation, when the bank ceased to exist. At present u current redemption fund of 5 per cent of the outstanding circulation is found sufficient, and it is probable that in the future no greater amount would be required. As already suggested, it is not deemed necessary to here enter into a discussion of details. The principle, if correct, c&n be incorporated into a law framed in such a manner as to meet any objections, be just and equitable to all concerned, and while placing upon the banks a daily burden now borne by the Government, give them just compensation in making circulation a source of legitimate and fair profit instead of of loss. The elasticity of issue in national-bank circulation will be found in the percentage ot issue against assets, subject to the necessary rate of taxation and secured by an adequate safety fund to guarantee the note holder against loss on account of the notes of insolvent banks and in a current redemption fund maintainedfor daily-redemption. The Government will be aided, the bank given in exchange a dollar for every dollar deposited, and thus relieved of the loss incident to depositing an amount of its capital stock in excess of the return in notes granted it. No violent contraction of the currency would follow such a course, but whenever contraction would occur it would be not less gradual than would at other times the expansion, incident thereto. It is respectfully suggested that as a necessary element to the securing of proper elasticity of issue in our bank-note currency, section 9 of the act of July 12, 1882, regulating the retirement and issuing of circulation to banks within a fixed period of time, should be repealed, and also that such amendment should be made to the law as will necessitate the banks keeping in the office of the Comptroller of the Currency a sufficient amount of blank notes as will enable them to secure circulation at once, instead of after a period of delay, frequently of sufficient duration as to make the issue unavailable to relieve the pressure existing at the time or ordering the same. It has been suggested from many eminent financial sources that the whole question of a banking and currency system ought to be referred by Congress to a commission, created by the proper act, appointed by the President, and clothed with proper authority. A commission, nonpartisan in its character, composed of men of eminent abilities, could unquestionably devise a currency system sound in every part and one which would commend itself to every interest of the country. It could largely take the question out of politics and have it considered simply in its business aspects and upon merit alone; but if the present Congress is to enact a law upon the subject the appointment of a commission could avail nothing. If, however, nothing more definite can be accomplished, the question of the creation of such commission ought to be considered and acted upon. CONCLUSION. In concluding this report the Comptroller desires to again bear testimony to the character and general efficiency of the employes in the Bureau, to the examiners in the field, and to the work accomplished by the receivers in relation to the trusts in their charge. The record of the Bureau throughout the past year justifies these expressions of praise. REPORT OF THE COMPTROLLER OF THE CURRENCY. 37 Iii tlie appendix will be found in detail the usual tables, together with a digest of legal decisions rendered by the various courts of the country involving questions affecting national banks. in the second volume of this report will be found a detailed statement of the condition of all the national banks, as shown by the report of condition of October 2, 1894, alphabetically arranged by States and properly indexed. JAMES H. ECKELS, Comptroller of the Currency. The SPEAKER OF THE HOUSE OF REPRESENTATIVES. APPENDIX. NAMES AND COMPENSATION OF OFFICERS AND CLERKS IN THE OFFICE OF THE COMPTROLLER OF THE CURRENCY, OCTOBER 31, 1894. Name. J a m e s H. Eckels Oliver P . T u c k e r J o s e p h Y . Paige George M. Coffin Watson W. Eldridge A b r a m li. S e r v e n . George S. Anthony Amos Webster Theodore O. Ebaugh Willis J . Fowler Edward A. Demaray J o h n A. Hebrew...' Endicott King George T. May Edmund E. Schreiner Charles A. Stewart Charles McC. Taylor Walter Taylor. / . Thomas P. Kane Harriet M. Blade Willard E. Bnell William E. Colladay George W. Collison" Washington K. McCoy Isaac C. Miller Joseph K. Miller F r a n k l i n L. Mitchell Ebcnezer Southall • William I). Swan"-• Ephraim S. Wileox George IT. Wood Eliza 11. Hyde Robert Leroy Livingston Mary L. MeCormick Loren H. Milliken Morris M. Ogden Carrie L. Pennoek Margaretta L. Simpson W a r r e n E. Sullivan A r t h u r M. Wheeler Anna M. Whiteside Eliza M. Barker Eveline C. Bates Mar et L. Br Philo^L. Bush . Sarah M. Cartwright Mary L. Conrad William S. Davennort A n n a E. Rhodes. .* Marie Richardson Eliza A. Saunders Louisa Campbell Virginia H. Clarke Sarah G. Clemens H a r r y V. Dresbaeh A r t h u r L. Hitchcock Frank T. Israel Alice M. Kennedy Emma Lafayette William A. Nestler Adelia M. Stewart Clara L. Willard Jacob L. Bright. Thomas H . A u s t i n *. David C. Bangs. Alice M. Brazebridge John E, Briggs J o h n A. W Burche Ellen Carey Grade. , Salary. Comptroller Deputy Comptroller | Chief clerk ! Chief of division ! do . .do . ! Suj;erintendent > Teller ' Bookkeeper Assistant bookkeejx : Clerk. class 4 ' do do do ! do ! do | do j Stenographer . Clerk; class 3 . ! do \ do . I do . [ do . ! d< do . do . do . do ; do do i Clerk, class 2 . j do i do I do | do ! do j do | do | do ! do j Clerk, class 1 . I do .do .do do do do ! do | do • .do j Clerk, class E i do ! do • | do ! do | do I do j do do do | do j Engineer Clerk, class D .do . do do do $5,000 2,800 2.500 2,200 2, 200 2,200 2,200 2,000 2, 000 2,000 1, 800 1,800 1.801) 1, 800 1,800 1,800 1,800 1, 800 1, 60!) 1,600 1, 600 ],600 1,600 1,600 1,600 1,600 1,600 1,600 1,600 1, 600 1,600 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,200 1,200 1,200 1,200 1, 200 1,200 1, 200 1, 200 1, 2C0 1,200 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1, 000 1,000 900 900 900 900 900 900 * I do * Additional to bond clerk, $200. 41 42 OF THE COMPTROLLER OF THE CURRENCY. NAMES AND COMPENSATION OF OFFICERS AND CLERKS IN THE OFFICE OF THE COMPTROLLEI; OF THE CURRENCY, OCTOBER 31, 1894—Continued. Name Geraldine Clifford J ames W. Farrar Mary 13. Harvell Louisa B. Hunter Charles IS. Hyde Mary A. Martin Mary E. Oliver Cassandria A. Smith Julia A. Snell Emma W. Stokes William J . Tucker "William Griffiths Joseph O. Broadfoot Silas Holmes John F . Robertson John Earle Daniel H. Mason Samuel M. Freeman Richard Corcoran Peyton B. Kemp Percy H. Towson Grade. Clerk, class D do do | do do ! do do do ! do do do Messenger Assistant messenger . ! do j do I Watchman ' do j Fireman j Laborer i do i do Salary. $000 900 900 900 900 900 900 900 900 900 900 840 720 720 720 720 720 720 660 650 663 EXPENSES OF THE OFFICE OF COMPTROLLER OF T H E CURRENCY FOR T H E Y E A R ENDED J U N E 30, 1894. For special dies, plates, printing, etc $133, 359.58 For salaries 100, 924. 03 For salaries, reimbursable by national banks 16, 778. 41 Total expenses of the office of the Comptroller of the Currency from its organization, May, 1863, to J u n e 30,1894 '. 7, 574; 277.85 The contingent expenses of the Bureau are not paid by the Comptroller, but from the general appropriation for contingent expenses of the Treasury Department; no separate account of them is kept. DIGEST OF NATIONAL BANK DECISIONS. IIDEX. ABATEMENT. ACCOMMODATION PAPER. ACTIONS. AGENT OF SHAREHOLDERS. ASSESSMENT. ATTACHMENT. BONDS OF OFFICERS. BOOKS, INSPECTION OF. BRANCH BANKS. BROKER. CAPITAL STOCK. CASHIER. CERTIFICATE OF DEPOSIT. CHECKS. CERTIFICATION OF CHECKS. CIRCULATION. COLLATERAL SECURITIES. COLLECTIONS. CONSTITUTIONALITY. CONSTRUCTION OF LAW. CONVERSION. CRIMINAL LAW. DEPOSITS. DEPUTY COMPTROLLER. DIRECTORS. DISTRICT ATTORNEY. ESTOPPEL. EVIDENCE. EXECUTION. EXPIRATION. EXTENSION. FALSE ENTRIES. FORFEITURE OF CHARTER. FORGERIES. GUARANTY. INCREASE OF CAPITAL STOCK. INDICTMENT. INJUNCTION. INSOLVENT BANKS. INTEREST. JURISDICTION. LEASE. LIABILITY OF BANK. LIEN. LIQUIDATION. LOANS. * MANDAMUS. MARRIED WOMEN. MORTGAGE. NOTARY PUBLIC. NOTICE. OATH OF DIRECTOR. OFFICERS. OFFSET. PASS BOOK. PLACE OF BUSINESS. POST NOTES. POWERS OF BANK. PREFERENCE. PREFERRED CLAIMS. PRESIDENT. REAL ESTATE. RECEIVER. REDUCTION OF CAPITAL STOCK. REPORT OF CONDITION. RESIDENCE. RESTRAINING ACTS. SAVINGS BANKS. SHAREHOLDERS. SPECIAL DEPOSITS. TAXATION. TRANSFER OF STOCK. ULTRA VIRES. USURY. VICE PRESIDENT. VOTING. ABATEMENT: 1. An action brought by the creditor of a national bank is abated by a decree of a district or circuit court dissolving the corporation and forfeiting its franchises. First National Banlc of IS elm a v. Colby, 21 Wall., 609. 2. A creditor's bill was filed against a national bank, before the passage of the act of Congress of June 30, 1876 (19 St. at L., 63), and a receiver was appointed, who took possession of the property of the bank. An amended bill was filed in the cause, after the passage of that act, to secure the benefits of the act, to which all the stockholders were made parties. Subsequently the Comptroller of the Currency appointed a receiver to wind up the affairs of tbe bank, and this suit was brought by him against one of 43 44 REPORT OF THE COMPTROLLER OF THE CURRENCY. ABATEMENT—Continued. the stockholders. Held, on demurrer to a plea in abatement, which set forth these facts, that the defendant is entitled to judgment on the ground that/as the stockholder's liability can be completely enforced in the suit in equity, the general rule applies that a debtor shall not be vexed by two suits in the same jurisdiction for the same cause of action. Harvey, Receiver, etc., v. Lord, 10 Fed. Hep., 236. ACCOMMODATION PAPER : 1. A national banking association cannot guarantee the paper of a customer for his accommodation. Seliyman v. Charlottesville National Bank, 8 Hughes, 647. 2. The accommodation paper of a national banking association is void in the hands of one who takes it with knowledge of its character. Johnson v. Charloitesvillc National Bank, 3.Hughes, 657. 3. A national bnnk can not become an accommodation indorser. National Bank of Commerce v. Atkinson, 55 Fed. lie})., 465. ACTIONS : See Jurisdiction. A. Solvent banks— 1. A national banking association is a foreign corporation within the meaning of a State statute requiring corporations created by the laws of any other State or country to give security for costs before prosecuting a suit in the courts of tlie State ; National Bark Bank v. Gunst, 1 Abb. N. C, 292. 2. As a national banking association can acquire no title to negotiable paper purchased by it, it can maintain no action thereon in a State where the person suing must be owner of the paper. First National Bank of Rochester v. Bierson, 24 Minn., 140. • m 3. A stockholder in a national bank cannot maintain an action at law against the officers and directors thereof to recover damages for willful waste of the " assets whereby the value of his shares was decreased and he became liable to an assessment thereon. His remedy must be sought in equity. Ilirsh v. Jones et al., 56 Fed. Rep., 137. 4. The provision of the banking law, section 5198, Rev. St., which requires that actions brought against national banking associations in State courts shall be brought in the county or city in which the association is located, applies only to transitory actions. It was not intended to apply to actions local in their character Casey v. Adams, 102 U. S., 66. 5. Under section 57 of act of 1864, suits may bo brought by, as well as against, any association. Kennedy v. Gibson, 8 Wall., 498. 6. Actions local in their nature may be maintained in the proper State court in a county or city other than that where it is established. Casey v. Adams, 10%*U. 8., 66. 7. A national bank may be sued in any State, county, or municipal court in county or city where located. Bank of Bethel v. Bahquioque Bank, 14 Wall.", 383. 8. Under the original act respecting national banks, and before the act of June 30, 1876, a court of equity had jurisdiction of suit to prevent or redress maladministration or fraud against creditors, in voluntary liquidation of such bank, whether contemplated or executed; and such suit by one creditor must be for all. Richmond v. Irons, 121 U. S., 27. B. Insolvent banks— 9. Suit may be brought against a national banking association though it is in the hands of a receiver. Bank of Bethel v. Bahquioque Bank, 14 Wall., 383; Security National Bank v. National Bank of the Commonwealth, 2 Hun,3 287; Green v. The Wallkill National Bank, 7 Hun., 63. 10. A shareholder of a national banking association can not maintain an action against the directors to recover damages sustained for neglect and mismanagement of the affairs of the association whereby it became insolvent and its stock was rendered worthless. Such an action can be brought only by the corporation itself. Conway v. Halsey, 15 Yroom., 462; Howe v. Barney, 45 Fed. Rep., 668. 11. But where the receiver refuses to bring an action against negligent directors to recover the amount which the shareholders have been compelled to contribute to pay the debts of the association, an action against such directors may be brought by a shareholder on behalf of himself and the other shareholders. Nelson v. Burrows, 9 Abb. N. C, 280. 12. And when the receiver is a director and one of the parties charged with misconduct and against whom a remedy is sought, the action may be brought by a shareholder on behalf of himself and the other shareholders. Brinckerhoff v, Bostwick, 88 N. ¥., 52. REPORT OF THE COMPTROLLER OF THE CURRENCY. 45 ACTIONS—Contin ued. 13. A receiver may sue either in his own name or the name of the bank. National Bank v. Kennedy, 17 Wall., 19. 14. Suits and proceedings under the act in which the United States or their officers or agents are parties, whether commenced before or after the appointment of a receiver, are to be conducted by the district attorney, under the direction of the Solicitor of the Treasury. Bank of Bethel v. Pahquioque Bank, 14 Wall., 883. 15. But section 380, Rev. St., is directory merely, and the employment of private counsel by the receiver can not be made a ground of defense to a suit brought by him. Ib. 16. Receivers may sue in the courts of the United States by virtue of the act, without reference to the locality of their personal citizenship. Ib. 17. The provisions of the codes that every action must be brought in the name of the real party in interest, except in the case of the trustee of an express trust or of a person authorized by a statute to sue, does not apply to the receiver of a national-banking association suing in a Federal court held in a State which has adopted the code procedure; for the right of the receiver to sue is derived from the national-banking law. Stanton v. Wilkeson, 8 Ben., 357. 18. Under section 1001, Rev. St.. no bond for the prosecution of the suit, or to answer in damages or costs, is required on writs of error or appeals issuing from or brought to the Supreme Court of the United States by direction of the Comptroller of the Currency in suits by or against, insolvent national-banking associations or the receivers thereof. Pacific National Bank v. Mixter, 114 U. S., 463. 19. The Stato statute of limitations applies to a suit brought by the receiver of a national bank against a shareholder to recover an assessment upon his stock to pay the debts of the bank. Butler v. Poole, 44 Fed. Hep., 586. 20. Whether a suit against a director for negligent performance of his duties, as required by the statutes of the United States and the by-laws of the association, will survive against the executor or administrator depends upon State laws. Witters v. Foster, 25 Fed. Hep., 737. 21. Such, action is not prescribed by the limitation of one year in Louisiana. Case v. .Bank, 100 U. $., 446. 22. On a bill filed by receiver against stockholders under section 50, where bank fails to pay its notes, action by Comptroller must precede institution of suit by receiver, and be set forth therein. Kennedy v. Gibson, 8 Wall., 498. 23. Creditors of the bank are not proper parties to such bill. Ib. 24. A compromise of a suit by the receiver of a national bank and counsel for the United States will not be opened after a delay of seven years, no fraud being shown. Henderson v. Myers, 11 Phil a., 616; 3 N. B. C, 759. 25. An action may be brought against a national bank, notwithstanding a receiver of it has been appointed. Security Bank of New York v. National Bank of the Commonwealth, 4 Thompson ty Cook, 518; 1 N. B. C, 774. Green v. TheWallkill National Bank, 7 Hun., 63; 1 N. B. C, 786. AGENT OF SHAREHOLDERS: 1. The Federal courts have the same jurisdiction of suits by and against th6. "agents'' of national banks appointed under the national-banking actso* Congress, when the " receivers" of an insolvent bank have been displaced by such " agents/ 7 as they have of suits by and against the "receivers" of such banks, each being in the same sense officers of the United States, and each representing in precisely the same relation the bank in its corporate cax>acity; and 1 his jurisdiction attaches without regard to any diversity of citizenship of the parties or the amounts involved. McConville.v. Gilmout et ah, 36 Fed. Bep., 217. 2. When the receiver of an insolvent national bank has been displaced by an "agent" appointed under the acts of Congress in that behalf, it is proper practice to substitute, upon motion, the "agent" as the plaintiff on the record in place of the "receiver" in a suit already commenced by the latter. Ib. ASSESSMENT: See Insolvent banks; Receiver; Shareholders; Transfer of stock. 1. Where national-banking association is insolvent, order of Comptroller of Currency, declaring to what extent tlie individual liability of stockholders shall be enforced, is conclusive. Kennedy v. Gibson, 8 Wall., 498; Casey v. Galli, 94 U. S., 673; National Bank v. Case, 99 U. S., 628. 2. Payments of assessments by stockholder in national bank on increased stock can not be applied, in law or in equity, to discharge assessments by Comp- 46 REPORT OF THE COMPTROLLER OF THE CURRENCY. ASSESSMENT—Continued. troller in final liquidation of the bank. Pacific National Bank v. Eaton, . 141 U. S., 227; Thayer v. Butler, Ib., "234; Butler v. Eaton, 11)., 240. 3. The assessments made by the Comptroller upon the shareholders of an insolvent association bear interest from the date of the order. Casey v. Galli, 94 U. S., 673. 4. Where shareholders have assessed themselves to the amount of the par value of the stock for the purpose of restoring impaired capital, the contributions made in pursuance of such assessment, though all used in paying the debts of the association, will not so operate as to discharge the shareholders from their individual liability. Delano v. Butler, 118 U. S.,634. 5. Where a married woman is by the State law capable of holding stock in a national bank in her own right she is liable to an assessment upon her shares, though the law of the State does not authorize married women to bind themselves by contracts for the payment of money. The ]aw annexes her obligations by its own force; no act or capacity to act on her part is required. Witters v. Sowles, 32 Fed. Rep., 767; 35 Fed. Hep., 640. 6. Married women who are permitted by the laws of the State in which they reside to become shareholders in national banks, are liable to assessments under the national-banking laws. In re First National Bank of St. Albans, 49 Fed. licp.y 120. 7. The coverture of a married woman, who is a shareholder in a national bank, does not prevent the receiver of the bank from recovering judgment against her for the amount of an assessment levied upon the shareholders equally and ratably under the statute. Keyser v. Hitz, 133 V. S.t 138. 8. It is not essential, in an action to enforce the individual liability of the shareholders of an insolvent national-.banking association, to aver and prove that the assessment was necessary; for the decision of the Comptroller on this point is conclusive. Strong v. Southworth, 8 Ben., 331; Kennedy v. Gibson, 8 Wall., 498; Casey v. Galli, 94 U. JS., 673. 9. And the fact that the title to the stock of a deceased shareholder vests in his administrator does not relieve the estate from the burden of an assessment. Davis v. Weed, 44 Conn., 569. 10. Nor will the fact that the administration is complete, and all the assets have been distributed, defeat an action brought to recover the assessment. Ib. 11. The question whether there is a deficiency of assets, and when it is necessary to enforce the individual liability of shareholders, is for the Comptroller to determine; and his decision in this matter is final and conclusive. Kennedy v. Gibson, 8 Wall., 498; National Bank v. Case, 99 U. S., 628; Casey v. Galli, 94 V. S., 673. 12. The amount contributed by each shareholder should bear the same proportion to the whole amount of the deficit as his own stock bears to the whole amount of the capital stock at its par value. And the solvent shareholders can not be made to contribute more than their proportion to make good the deficiency caused by the insolvency of other shareholders. United States v. Knox, 102 U. S., 422. 13. Where, to discharge liabilities of an insolvent bank, Comptroller assessed against shareholders a sufficient per cent on par value of stock held by each, some being insolvent, he can not provide for deficiency by new assessment. Ib. 14. The estate of a deceased owner of national-bank stock is liable (Rev. St., sec. 5152) to an assessment levied against his executors in consequence of the failure of the bank after his death. Wickham v. Hidl et al., 60 Fed. Hep., 326. 15. An action was brought against the executors of an estate to'establish its liability for an assessment on certain shares of national-bank stock. The estate was at the time in possession of an Iowa probate court for purposes of administration, for which reason the Federal court could not enforce the liability, if adjudged to exist. Defendants set up the limitation contained in the Iowa statute (Code, sec. 2421) regulating the settlement of estates: Held, That the Federal court would not pass upon the question whether this provision debarred complainant from sharing in the estate, for, as the claim established in the Federal court must be presented for allowance in the probate proceedings, the better practice was to remit the question to the probate court. Ib. 16. Where a national bank issues certificates of its shares to a subsequent purchaser in lieu of the certificates of the prior owner, without observing its by-law in regard to a. transfer on its books, so far as creditors of the bank are concerned a party taking and holding such shares of stock will be subject to the liabilities imposed by section 5151 of the nationalbanking law. Laing v. Burley, 101 III., 591; 3 N. B. C, 369. REPORT OF THE COMPTROLLER OF THE CURRENCY. 47 ASSESSMENT—Continued. 17. One to whom stock has been transferred in pledge or as collateral security for money loaned, and who appears on the books of the corporation as the owner of the stock, is liable as a stockholder for the benefit of creditors. Where the owner, holder, or pledgee of stock transfers it out and out for the purpose of escaping liability as a shareholder to one who is unable to meet such liability, or when the transfer is colorable and not absolute the transfer is ineffective as to creditors, and the transferor will be still liable. Therefore, when the G. bank loaned money and took as collateral therefor shares of stock in the C. bank, which were duly transferred' in the books of the C. bank, and afterward the G. bank transferred these shares to one of its clerks with an understanding that he should re-transfer on request, and the C. bank was then in failing condition, Held that the G. bank was liable to contribute as a stockholder to the debts of the C. bank. Germania National Bank of New Orleans, v. Case. Receiver, 99 U. S., 628; 2 N. B. €., 25. 18. A letter addressed to the receiver, and signed by the Comptroller of the Currency, directing him to institute legal proceedings to enforce the individual liability of every stockholder, under the statute, is sufficient evidence that the Comptroller decided, before the suit, that it was necessary to enforce the personal liability of the stockholders. Boivden v. Johnson, 107 U. S.f 251; 3 N. B. C, 55. 19. The liability of the stockholders bears interest from the date of said letter. Ib. 20. Under the national banking act the individual liability of the stockholder survives as against the personal representatives of a deceased stockholder. Richmond v. Irons, 121 U. S., 27; 3 N. B. C, 211. 21. A stockholder sold certain stock several months before the insolvency of the bank, but the transfer was not made on the books till the date of the bank's failure. Held, that the stockholder incurred the statutory liability. Ib. 22. Fifty shares of the stock of a national bank were transferred to F. on the books of the bank October 29. A certificate therefor was made out, but not delivered to him. He knew nothing of the transfer, and did not authorize it to be made. On October 30 he was appointed a director and vice-president. On November 21 he was authorized to act as cashier. He acted as vice-president and cashier from that day. On December 12 he bought and paid for 20 other shares. On January 2 following, while the bank was insolvent, a dividend on its stock was fraudulently made, and $1,750 therefor placed to the credit of F. on its books. He, learning on that day of the transfer of the 50 shares, ordered D., the president of the bank, who had directed the transfer of the 50 shares, to re-transfer it, and gave to D. his check to the order of D. individually for $1,250 of the $1,750. The bank failed January 22. In a suit by the receiver of the bank against F. to recover the amount of an assessment of 100 per cent by the Comptroller of the Currency in enforcement of the individual liability of the shareholders, and to recover the $1,750, Held, first, in view of provisions of sections 5146, 5147, and 5210, Rev. St., it must be presumed conclusively that F. knew, from November 21, that the books showed he held 50 shares; second, F. did not get rid of his liability for $1,250 by giving to D. his check for that sum in fa*, or of D. individually. Finn v. Brown, 142 U. S.f 56. 23. In winding up an insolvent national bank, the Comptroller of the Currency is vested with authority to determine "when a deficiency of assets exists, so that the individual liability of the stockholders may be enforced, and no appeal lies from his decision. Bailey v. Sawyer, IN. B. C, 356; 4 Dill., 463. 24. The liability of a stockholder of a national bank is several, and is fixed by his taking stock in the corporation. Ib. 25. When an assessment upon the stockholders is ordered by the Comptroller, a suit at law is the proper remedy to enforce it. Ib. 26. A trustee holding shares in a national bank cannot avail himself of his exemption from personal liability for debts of the bank, unless his trusteeship appears on the books of the bank. Davis v. Essex Baptist Society, 44 Conn., 582; 2 N. B. C, 110. 27. With a bequest of money a religious society purchased, and held in its own name, shares in a national bank. The society had other donations otherwise invested. Held, that the society was not a trustee, but an ordinary stockholder, and liable to assessment for debts of the insolvent bank. Ib. 48 REPORT OF THE COMPTROLLER OF THE CURRENCY. ASSESSMENT—Continued. 28. One who procures a transfer to himself, on the hooks of a national hank, of stock in such hank, becomes liable for the engagements of the bank as prescribed in the national bank act, although such stock was pledged to him by the owner simply as security for a debt. Moore v. Jones, 3 Woods, 29. One in whose name shares of the stock of a national bank stand on the bank books is subject to the individual liability of a shareholder, although his holding of the stock was originally as collateral security for a loan, and the loan has been repaid and the stock certificate surrendered with an executed power of*attorney for transfer. Bowdell v. Fanners and Merchants7 National Bank of Baltimore, 14 Bankers' Magazine, 387; 2 JST. B. C, 146. 30. The determination of the Comptroller as to the necessity of an assessment on stockholders of an insolvent national bank for the payment of debts is conclusive, and in a suit to enforce such an assessment the necessity need not he alleged. Strong, Receiver, v. Southworth, 8 Ben., 331; 2 N. B. C., 172. 31. S. bought shares in a national bank and caused them to be transferred to E.r who was in his employ, S. remaining the real owner. Held, that S. was liable as stockholder upon the failure of the bank. Davis, Receiver, v. Stevens, 20 Alb. I. J. 400; 2 X. B. C, 158. 32. In an action by the receiver of a national bank to enforce the liability of a shareholder, it appeared that the date of the defendant's subscription to the stock was prio to May, 1866, when the receiver was appointed; that the Comptroller c ? the Currency decided on the 28th of June, 1876, that the enforcement o^ this liability to its full extent was necessary, and instructed the receiver iccordingly, and that this action was thereupon brought. Held, that although such decision and order of the Comptroller were necessary preliminaries to a suit against the shareholder, yet, having been delayed "without sufficient apparent reason for more than six years from the date of the subscription, the statute of limitations was a bar to the action, the State courts having decided that an act necessarily preliminary to the commencement of a suit upon a contract must be done within six years, unless sufficient reason for the delay is shown. Price, Receiver, v.' Yates, 19 Alb. L. J., 295; 2 N. B. C, 204. 33. A court has no power, under sec. 5324, U. S. Rev. St., to order the receiver of a national bank to compound debts which are not "bad or doubtful;" and a composition under such an order of debts not "bad or doubtful," as the debt of a shareholder arising on his subscription to the stock, is ineffectual. Jb. 34. A stockholder of an insolvent national bank, who happens also to be one of its creditors, can not cancel or diminish the assessment to which the provisions of sec. 5151, Rev. St., make him liable by offsetting his individual claim against it. Hobart, Receiver, etc., v. Gould, 8 Fed. Rep., 57. 35. Section 5151, Rev. St., among other things, provides that the shareholders of every national banking association shall be held individually responsible for all contracts, etc., to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested iu such shares. Held, that, upon the insolvency of such a bank a shareholder, who happens to be one of its creditors, can not cancel or diminish the assessment to which the provisions of this section make him liable, by offsetting his individual claim against it. Ib. 36. The liability which shareholders in national banks incur under section 12 of the act of 1864, which provides for a liability " to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares," is that of principals, not of sureties^ Hobart, . Receiver, etc., v. Johnson, 8 Fed. Rep., 493. 37. Such a liability is not one on a "promise to pay the debt, or answer for the default or liability, of any other person," within the meaning of the proviso to section 5 of the Revised Statutes of New Jersey of 1874, p. 469. Ib. 38. On the principle of estoppel, one can not take advantage of certain statutory provisions without incurring thereby the attendant liabilities. Ib. 39. Under sec. 5151, Rev. St., owners of stock in a national hank are liable for its debts, and persons who hold themselves out or allow themselves to be held out as owners of stock are also liable, whether they own stock or not. Case, Receiver, v. Small et ah, 10 Fed. Rep., 722. 40. A married woman wrho owns stock in a national bank is not exempt on account of her coverture from the liability imposed by the national currency acts upon all stockholders in such banks. Anderson v. Line, 14 Fed. Rep., 405. REPORT OF THE COMPTROLLER OF THE CURRENCY. 49 ASSESSMENT—Continued. 41. After a national bank has become insolvent and has closed its doors for business, its shareholders' liability to creditors is so far fixed that any transfer of their shares must be held fraudulent and inoperative as against the creditors of the bank. Irons et al. v. Manufacturers' National Bank of Chicago et al., 17 Fed. Sep.,- 308. 42. The Pacific National Bank of Boston was organized in October, 1877, with a capital of $250,000, with the right to increase it to $1,000,000. In November, 1879, its capital was raised to $500,000; September 13,1881, the directors voted to increase the capital to $1,000,000. On November 18, 1881, the bank suspended. On December 13, 1881, the directors voted that as $38,700 of the increase of capital stock had not been paid in the capital be fixed at $961,300, and the Comptroller of Currency was notified to that effect, and he notified the bank, under Rev. St., sec. 5205, to pay a deficiency on its capital stock by an assessment of 100 per cent. At the annual meeting the assessment was voted, and on March 18, 1881, with consent of the Comptroller and the approval of the directors and the examiner, the bank resumed business, and continued until May 20, 1881, when it again suspended and was put in the hands of a receiver. Prior to May 20, 1882, $742,800 of the voluntary assessment had been paid in. Complainant was the owner of twenty-five shares of stock on September 13,1881, and after the vote to increase the stock took twenty-five shares, for which he paid $2,500 on October 1,1881, and received a certificate. He voted for the assessment at the annual meeting, and in February, 1882, paid the assessment on the old and new stock, and subsequently sought to enjoin the suit at law against him by the receiver to enforce his individual liability as a stockholder, under Rev. St., sec 5151, on the ground that the increase of capital was illegal and void, and that the voluntary assessment, under Rev. St., sec. 5205, relieved the stockholders of individual liability: Reid, That he was not entitled to relief, and the bill should be dismissed. Morrison v. Price, Receiver, 23 Fed. Rep., 217. 43. A discharge in bankruptcy releases a shareholder of a national bank from his statutory individual liability to creditors of the bank, where, at the time of his discharge, the claims of such creditors were provable, not merely contingent. Irons et al. v. Manufacturers1 National Bank et al., 27 Fed. Rep., 591. 44. When bank stock was sold, but not transferred on the books of the bank, and the bank afterwards failed, the executors of the person in whose name the stock stood on the books were held liable for assessment, although said stock had been paid for by a purchaser buying at the request of the president of the bank, who gave him a cashier's check for that purpose, placing the money so furnished to the credit of said purchaser on the books of the bank as a temporary loan, the intention being ultimately to transfer said shares to a third party as part of a larger proposed investment in stock, for which funds had been placed in the hands of the president of the bank. Price, Receiver, v. Whitney et al., 28 Fed. Rep., 297. 45. Defendant subscribed for new stock in the reorganization of a bank, and received a certificate on the basis of a total subscription of $500,000. The actual increase was $461,300. He protested against the same, and refused to vote on the stock, but retained his certificate until the bank went into the hands of a receiver several months later: Meld, That he was liable to the receiver on his subscription, and it was too late to claim that the increase as to him was invalid. Butler, Receiver, v. Aspinwall, 33 Fed. Rep., 217. 46. A pledgee of shares of stock in a national bank, who does not appear by the books of the bank or otherwise to be the owner, is not liable for an assessment upon the shares on the insolvency of the bank, under Rev. St., sec. 5151, rendering shareholders liable for the debts of the association to the extent of the par value of their stock. Welles v. Larrabee et al., 36 Fed. Rep., 866. 47. One to whom the shares are assigned in trust as security for a debt due a third person, and following whose name on the stock book of the bank is the word " trustee/' is not liable for the assessment under section 5151, and is also within the provision of section 5152, exempting from such liability persons holding stock as trustees. Ib. 48. In an action by the receiver of an insolvent national bank to recover of a stockholder an assessment on his shares, the defendant alleged as a counterclaim that the Comptroller of the Currency had directed the bank to restore the value of certain securities held by it which had been reported 8182 CUR 4 ~)Q REPORT OF THE COMPTROLLER OF THE CURRENCY. ASSESSMENT—Continued. 49. 50. 51. 52. 53. 54. 55. worthless by an examiner; that certain of the stockholders, including defendant, had raised a fund which was placed in the hands of trustees to apply so much as might be from time to time required ]py the Comptroller to retire such securities; that the fund was deposited with the bank with full notice of the purpose to which it was to be applied; that a portion had been used to retire the securities designated, and that when tho bank failed, tho balance of the fund came into the hands of the receiver, and was now claimed by him as a part of the ordinary assets of the bank; that a certain portion of this balance belonged to defendant, which amount he asked to set off against plaintiffs demand: Held, That a general demurrer based on the ground that no set-off or counterclaim was available in such an action would be overruled, as the claim could be set off if it was of such a nature that tho holder would be entitled to receive the full amount before distribution by the receiver to general creditors. Welles v. Stout, 38 Fed. Rep., 807. Where a shareholder of a national bank makes a bona tide sale of his stock and goes with the purchaser to the bank, indorses the certificate, and delivers it to the cashier of the bank with directions to make tho transfer on the books, he has done all that is incumbent upon him to discharge his liability, and he is not liable, though the cashier failed to make the -transfer, upon the subsequent suspension of the bank for an assessment made by the Comptroller of the Currency, under Rev. St., sec. 5151, to pay tho bank's debts. Hayes v. Shoemaker, 39 Fed. Rep., 319. Defendant, for the purpose of helping a bank, of which complainant was a stockholder, in a financial crisis, loaned it certain securities belonging to complainant, and when complainant was informed of the fact she did not object. She was assured by the bank's officers that if the bank was saved the securities would bo returned, and if it failed the avails would be credited on her assessment as a stockholder. The bank failed, and the securities were not returned: Held, That she was not entitled, as against other creditors, to set off the value of the securities against her assessment, but was, as to such value, on the same footing as any other creditor. Sowles v. Witters et al., 89 Fed. Rep., 403. One who subscribes and pays for a specified number of shares of a ilproposed increase" of the capital stock of a national bank, which increase is in fact never issued, and to whom tho bank officials transfer, instead, old stock of the bank without his knowledge or consent, is not a "shareholder " within the meaning of Rev. St., sec. 5151, imposing individual liability on the shareholders for the debts of national banks. Stephens v.. Follettet al., 43 Fed. Rep., 842. The fact that the subscriber for the new shares received a dividend on the old shares so transferred to him does not estop him from denying his liability as a shareholder, where such dividend was received in the belief that it was paid to him by virtue of his subscription to the new stock. Ib. A person who becomes a stockholder in a national bank thereby submits himself to the provisions of the national-bank act, and becomes liable to be assessed to the extent of his statutory liability for all debts of the bank existing while he holds his stock. Young v. Wempe et al., 46 Fed. Rep., 354. In an action by the receiver of a national bank to enforce an assessment under Rev. St., sec. 5151, against one credited on the transfer books as a stockholder, it appeared that nearly a year before the failure he had sold his stock to a broker for an undisclosed principal, that he indorsed the same, and requested the broker to inform the cashier of the transaction, and to have the stock transferred; that the broker accordingly handed the stock to the cashier, gave him the necessary information, and requested him to make the transfer. This the cashier promised to do, but in fact the transfer was never made. The certificate recited that it was transferable on tho books of the company "by indorsement hereon and surrender of this certificate:" Held, That in requesting the cashier to make the transfer the broker acted as the seller's agent, and that the latter did all that was required of him as a prudent business man, and could not be held liable as a stockholder. Young v. McKay, 50 Fed. Rep., 394. A Federal court will not, even if it has the power under Rev. St., sec. 5234, grant an order authorizing a receiver of a. national bank to compound tho statutory liability of certain stockholders by accepting payment of a gross sum, less than is due, in satisfaction and discharge thereof, although more money would thus be realized than by proceedings to collect the same in tho usual way, when it appears probable that such stock- REPORT OF THE COMPTROLLER OF THE CURRENCY 51 ASSESSMENT—Continued:. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. holders have fraudulently conveyed their property to avoid their legal obligations as stockholders, or to shield themselves from injury and exposure by litigation. In re Certain /Shareholders of the California Nat. Bank of San Diego, 53 Fed. Rep., 38. A person who is entered on the books of a national bank as the owner of stock, but who is admitted to hold the stock in trust for the true owner, is not liable as a stockholder for the debts of the bank, when the true owner has been adjudged so liable, although nothing is realized upon the execution of such judgment. Yardley v. Wilgus, 56 Fed. Rep., 965. When the full personal liability of shareholders is to be enforced the action must be at law. Kennedy v. Gibson, 8 Wall., 498; Casey v, Galli, 94 U. S., 678. And it may be at law, though the assessment is not for the full value of the shares; for, since the sum each shareholder must contribute is a certain exact sum, there is no necessity for invoking the aid of a court of equity. Bailey v. Sawyer, 4 Bill., 463; 1 N. B. C, 356. But the suit may be in equity. Kennedy v. Gibson, supra. It is no objection toa bill against stockholders within the jurisdiction of the court that other stockholders, not within such jurisdiction, are not codefendants. Ib.; Case v. Bank, 100 U. S., 446. But a pledgee of shares of stock in a national bank who in good faith and with no fraudulent intent takes the security for his benefit in the name of an irresponsible trustee for the avowed purpose of avoiding individual liability as a shareholder, and who exercises none of the powers or rights of a stockholder, incurs no liability as such to creditors of the bank in case of its failure. Anderson, receiver, v. Warehouse Company, 111^ U. S., 479. The association may he individual liability of the shareholders of an insolvent insolv b enforced f d ffor th f paying i ll of f its liabilities, and not merely bo the purpose of all liabilit il h i l l so so called. Stantonv. for the purpose of paying its debts," technically Wilkeson, 357. Wilk 88BBen.,357 The individual liability of the stockholders must be restricted in its meaning to such contracts, debts, and engagements of the association as have been duly contracted in the ordinary course of its business. And, therefore, creditors of an association wrho make settlements after the association is put into liquidation and receive from the president payment of their claims in paper of the association, or of the individual notes of the president himself, indorsed or guaranteed in the name of the association, are not to be considered as creditors of the association entitled to subject the stockholders to individual liability; for these are new contracts. Richmond v. Irons, 121 U. 8., 27. The individual liability of the stockholders is enforcible only in behalf of all the creditors, and any security given by a stockholder for his liability in this respect should likewise be for the benefit of all tho creditors. Accordingly, a mortgage of all the individual property of a stockholder, made after the bank has closed its doors, for the purpose of securing a single depositor, is void as against a judgment obtained against such stockholder in an action by the receiver to recover tho amount of his individual liability. Gatch v. Fitch, 34 Fed. Rep., 566. Bill filed by receiver against transferrer and transferee to enforce such liability will lie where it is for discovery as well as relief, as the transfer would be good between the parties. Boivden v. Johnston, 107 U. S., 251, A shareholder in a national bank, who is liable for its debts, is liable for interest thereon to the extent of tho bank's liability, and not in excess of the maximum liability fixed by statute. Richmond v. Irons, 121 U. S., 27. The creditors of an insolvent association must seek their remedy through the Comptroller, in the mode prescribed by the statute; they can not proceed directly in their own names against stockholders or the debtors of tho bank. Kennedy v. Gibson, 8 Wall., 498. Each shareholder of a national banking association is individually liable for its debts to the extent of the amount of his stock at its par value, in addition to the amount invested in the shares held by him, and a receiver appointed to wind up the affairs of such an association that has become iinsolvent is authorized, under tho direction of the Comptroller of tho Currency, to enforce the Liability of its stockholders, and to collect from each of them the necessary amount, up to the extent of his liability, for the payment of the creditors. King et al. v. Armstrong, Receiver; 34 N> E.} 163; 50 Ohio St., 222. Code N. C, sec. 1826, provides that no woman during coverture shall be capable of making any contract to affect her real and personal estate without 52 REPORT OF THE COMPTROLLER OF THE CURRENCY. ASSESSMENT—Continued. the written consent of her husband: Held, That a purchase of stock by a married woman is not a "contract" within the terms of the statute, and that the wife is liable upon an assessment, although the stock was purchased without the written consent of her husband. Robinson v. Turrentine et al.t 59 Fed. Hep., 554. ATTACHMENT : A Solvent banks— 1. The stock of a shareholder indebted to it may be attached by the association and sold on execution. Hager v. Union National Bank, 63 Me., 509. 2. No State court can issue an attachment against the funds of a national bank. Although the provision forbidding attachments was evidently made to secure equality among the general creditors in the division of the proceeds of the property of an insolvent bank, its operation is by no means confined to cases of actual or contemplated insolvency; but the remedy is taken away altogether and can not be used under any circumstances. The effect of the provision in sec. 5242, Rev. St., is to write into all State attachment laws an exception in favor of national banks, and all such laws must be read as if they contained an exception in favor of national banks. Pacific National*Bank v. Afixter, 124 U. S., 721. 3. No attachment can issue from United States circuit court in an action against a national bank before final judgment in the cause, and a bond given on such attachment is illegal. Ib. 4. An attachment can issue against a national bank from a State court. Robinson v. National Bank of Newbern, 58 How. Pr., 306; 2 N. B. C., 309. 5. The provision of the national banking act that attachments, injunctions, etc., shall not be issued by State courts against national banks before final judgment, relates only to actions against banks where the action is brought, and not to cases where the action is against a nonresident corporation. South wick:v. The First National Bank of Memphis, 7 Htm., 96; 1 N. B. C. 789. 6. An attachment will not Jie before final judgment against the property in this State of a national bank situated and doing business in another State. RhonerY. National Bank of Allentoivn, Pa.', Palmer v. Same, 14 Hun., 126; 2 N. B. C, 331. 7. An attachment can not be issued from a State court against a national bank before final judgment, whether such bank be located in this State or not. Central National Bank v. Richland National Bank, 52 Howard, 136; 1 N. B. a, 8oi. 8. The provision of the national banking act prohibiting attachments in such cases is not repealed by the act of Congress of July 12, 1883, providing that the jurisdiction for suits thereafter brought against national banks shall be the same as for suits against State banks, and repealing laws inconsistent therewith. Ray nor v. Pacific National Bank, 93 N. Y., 371; 3 N. B. C, 624. 9. An unrecorded transfer of national-bank stock will take precedence of a subsequent attachment in behalf of a creditor without notice. Continental National Bank v. Eliot National Bank ct al., 7 Fed. Rep., 369. 10. The loss of interest occasioned by an attachment wrongfully laid is clearly an injury for which damages are recoverable against the wrongdoer. Jacobus v. Monongahela National Bank of Brownsville, 35 Fed. Rep., 895. 11. Where shares of corporation stock are attached, the subsequently declared dividends are as much bound by the attachment as the corpus of the stock itself is. Ib. 12. Counsel fees and other expenses (not taxable as costs) paid or incurred in defending against an attachment wrongfully laid are not recoverable as damages in an action upon a statutory recognizance given when the attachment was issued, conditioned for the payment to the party aggrieved of "such damages as the cour^ may adjudge/' Ib. B. Insolvent banks— 13. When a creditor attaches the property of an insolvent bank he can not hold such property against the claim of a receiver appointed after the attachment suit was commenced. Such creditor must share pro rata with all others. First National Bank of Selma v. Colby, 21 Wall., 609; Harvey v. Allen, 16 Blatch., 29, 14. Sureties on attachment bond against national bank who have received assets of the bank to secure them from loss thereon, the obligation being illegal, will be discharged in equity and be compelled to transfer their collateral to the receiver of the bank. Pacific National Bank v. Mixter, 124 U. S.f 721. REPORT OF THE COMPTROLLER OF THE CURRENCY. 53 ATTACHMENT—Continued. 15. An attachment from a State court may not issue against an insolvent national bank of that State. National Shoe and Leather Bank of the City of New York v. Mechanics' National Bank of Neivark, N. J.; Corn Exchange Bankx. Same; West Side Bank v. Same; SON. ¥., 467; 8 N. B. C, 601. 16. An attachment issued against an insolvent national bank is invalid (U. S. R. S., sec. 5142) and is not made valid by the subsequent acquisition by the bank of further capital. Eaynor v. Pacific National Bank, 93 N. ¥., 371; 3 N. B. C, 624. 17. Although the bank, after the issuing of the attachment, paid a large amount of its debts in full, this does not estop it from questioning the validity of the attachment. Ib. 18. A receiver of a national bank situated in another State, though not a party, may move to vacate an attachment. People's Bank of the City of New York v. Mechanics' National Bank of Newark, 62 How. Pr.,422; 3 N. B. C, 670. 19. In an action against a national bank of another State, an attachment issued a gainst its property in this State will be vacated upon proof of its insolvency. Ib. 20. The defendant, a national bank at Boston, Mass., on November 18, 1881, closed its doors and was put in charge of a Government bank examiner, and thus continued till March 14, 1882, when the Comptroller allowed it to resume. It transacted business till May 22, 1882, when it was placed in the hands of a receiver. An attachment was issued in this action November 19, 1881, against defendant's property in this State. At that time its assets would have paid its debts and liabilities exclusive of its capital, but it had refused to pay various legal obligations then due. Held, That defendant had committed acts of insolvency within U. S. Rev. St., sec. 5242, and the attachment should be vacated. Market National Bank of New York v. Pacific National Bank of Boston, 30 Hun., 50; 3 N. B. C, 672. 21. Bank property attached by individual creditor after bank is insolvent can not be sold to pay his demand against the claim of a receiver subsequently appointed. National Bank v. Colby, 21 Wall., 609. BONDS OF OFFICERS: 1. It is not necessary that national-banking associations shall signify their approval of the official bonds of their officers by memoranda entered upon the journals or minutes of the directors. The acceptance is to be presumed from the retention of the bond, and from the fact that the officer is permitted to enter upon or continue in the discharge of his duties. Graves v. The Lebanon National Bank, 10 Bush., 23. 2. Where the sureties of an officer can reasonably be presumed to have been deceived by the statement of the condition of the bank published j list prior to the execution of the bond, and to have been led to think that there was no deficit, whereas there had been a misapplication of a large part of the funds by the officer whose bondsmen they became, which fact would have been ascertained had the directors exercised ordinary diligence, the sureties are discharged from their liability. Ib. 3. A surety on the bond of a cashier of a national bank is not discharged by the fact that the cashier had, before the bond was given, committed frauds upon the bank, if such frauds were unknown to the officers of the bank, although they were guilty of gross negligence in not discovering them. Tapleij v. Martin, 116 Mass., 275; 1 N. B. C., 611. 4. The engagement of a surety is a direct original agreement with the oblig^ee that in the event his principal fails he will perform the original obligation, and whether it is entered into jointly with the principal OL* separately, the extent and character of the obligation are the same as to both, depending only upon the form in which it is expressed. La Eose et al. v. The Logansport National Bank et al., 102 Ind., 382. 5. The contract of obligors, whether entered into separately or jointly with the principal, if by its terms it appears that the principal is separately bound by an original, independent contract, to which the contract for security is collateral, and the obligors agree therein that the principal will pay or perform according to his original engagement, and that they will answer for his default in the event of failure, is a contract of guaranty. Ib. 6. The contract of the sureties in the bond of a bank cashier, conditioned for the faithful discharge of his duties by such cashier, is a contract of guaranty. Ib. 7. A failure to give notice to guarantors of the default of their principal, except in cases governed by commercial rules, is a matter of defence, and resulting damages must concur with such failure in order to work a discharge. Ib. 54 REPORT OF THE COMPTROLLER OF THE CURRENCY. BONDS OF OFFICERS—Continued. 8. Where by a by-law of a bank its cashier is made responsible for the funds and valuables of the bank, it can not be implied, that his bond would not become operative until all the other officers and employe's were denied access to such funds and valuables, nor that he is responsible for losses which may occur through the delinquencies of others. Ib. 9. The bond of a bank cashier, executed and approved two weeks after he enters upon his duties, is upon sufficient consideration, and is operative, at least from the date of its approval. Ib. 10. The knowledge by an employer of the misconduct of au employ6 whose conduct and fidelity have been guaranteed by another, which will, if concealed, release the guarantor, must relate to the service in which the employe is engaged, and must be something more than mere moral delinquency, unconnected with the subject-matter of the guaranty. Ib. 11. A continuing contract, guaranteeing the fidelity of a bank cashier, may be revoked by the guarantors without cause, upon proper notice, but tho right must be exercised reasonably. Ib. BOOKS, INSPECTION OF : 1. Code of Alabama, 1886, sec. 1677, which provides that stockholders of all corporations have the right to have access to and inspection and examination of the books, records, and papers cf the corporation at all reasonable and proper times, applies to national banks located within the State; and mandamus will lie against the officer having custody of the books to enforce the right. Winter v. Baldwin, 7 So., 734; 89 Ala., 483. 2. The rights of stockholders are not curtailed nor the statute in conflict with .IT. S. Rev. St., which provide that national banks shall not be subject to visitorial powers other than those authorized by Congress or vested in the courts of justice. Ib. 3. The officers of a national bank can not bo compelled to exhibit the books of the bank to State officers for the purpose of furnishing a basis for State taxation of the deposits as against the depositors. First National Bank of Youngstown v. Hughes, et ah; Second National Bank v. Do., 2 N. B. C, 176. BRANCH BANKS: 1. A national bank located in another State can not keep an office for discount and deposit in New York, and can not maintain an action upon a note discounted at such office. National Bank of Fairhaven v. The Phoenix Warehousing Co., 6 Hun., 71; 1 N. B. C, 784. 2. Under Rev, St., sec. 5190, providing that "the usual business of each nationalbanking association shall be transacted.at an office or banking house located in the place specified in its organization certificate," a national bank can not make a valid contract for the cashing of checks upon it at a different place from that of its residence, through the agency of another bank. Armstrong v. National Bank of Springfield, 38 Fed. Bep., 883. BROKER: A national-banking association is not authorized to act as a broker or agent in the purchase of bonds and stocks. First National Bank of Allentown v. Hoch, 80 Penn. St., 324; Wcckler v. The First National Bank of Eagerstown, 42 Md., $81. CAPITAL STOCK: See Shareholders; Transfer of stock. A. In general—# 1. A national bank can acquire an interest in its own stock only by purchase to prevent a loss upon a debt previously contracted in good faith; and a provision in certificates of stock in such bank that they shall not be transferred until all the liabilities of the stockholder to tho bank are paid is void and of no effect. Conklin v. The Second National Bank, 45 N. Y., 655; 1 N. B. C.y 693. 2. Where a national bank made a loan, upon the pledge of its own shares and v afterwards sold the shares to obtain payment of the loan which exceeded the amount realized from the shares: Held, That the owner of the shares could not, on the ground that the statute forbids a national bank to take its own shares as security, recover from tho bank the amount realized upon the sale of the shares. First National Bank of Xenia v. Stewart, 107 U. S., 676; 3 N. B. C, 96. 3. The articles of association and the by-laws of a national bank prohibited the transfer of"stock owned by any stockholder indebted to the bank until such indebtedness should be satisfied: Held, That the prohibition was invalid, under section 35 of the National Banking Act, and that the bank could not thus acquire a lien on the shares of the stockholders. Billiard v. Bank, IS Wall.. 589: 1 N. B. C . 93. REPORT OF THE COMPTROLLER OF THE CURRENCY, 55 CAPITAL STOCK—Continued. B. Increase— 4. National banks have no authority to increase their capital stock except as provided by Rev. St., sec. 5142. and act of Congress May 6, 1886; and where an increase is attempted to be made without obtaining the consent of two-thirds of the stock, the payment in full of the amount of such increase, and the certificate and approval of the Comptroller of the Currency, as required by those statutes, the proceedings are invalid, and preliminary subscriptions to such increase can not bo enforced. Winters v. Armstrong; Armstrong v. Stanage; Samev. Wood, 37 Fed. Rep., SOS. 5. Such a subscription is impliedly conditioned on the subscription of the whole amount of the proposed increase and on the compliance by the corporation with all the requirements of the statute necessary to make the increase stock valid, and in case of non compliance with such requirements there is a failure of consideration. II). 6. In an action by the receiver of a national bank to enforce subscriptions to a proposed increase of its capital stock, an allegation that the bank, subsequent to defendants' subscriptions, and with their knowledge, represented to the public by means of circulars, letter-heads, etc., that its capital stock had been so increased and that defendants allowed their names to remain ''upon the list of those subscribing for and entitled to such new or increase of stock, v but without alleging that the public gave credit to the bank on the faith that the defendants were part owners of such increase of stock, or that they allowed themselves to bo held out as actual stockholders, does not show that they are estopped to plead the failure of the bank to comply with the statutory requirements in perfecting such increase. Ib. 7. The receiver stands in the shoes of the bank, and can assert no rights against the subscribers which the bank could not have asserted. Ib. 8. A subscriber who has made payments on his subscription to the proposed increase, believing that the statutory requirements would bo complied with, is entitled to have the amount thereof allowed as a claim against the assets of the bank in the receiver's hands. Ib. ,9. Where one subscribes for shares in the increase of the capital of a nationalbanking association in a certain amount, such subscription and payment are upon the implied condition that the increase shall be in the exact amount so fixed; and if such amount is changed, the subscriber may avoid the subscription and recover the amount paid in. Eaton v. Pacific Bank, 144 Mass., 260. 10. And the certificate of the Comptroller of the Currency that the amount of the increase in another sum has been paid in, which amount includes what was paid by the dissenting subscriber, will not be conclusive upon such subscriber. Ib. 11. But if such subscriber has assented to or ratified the change he will be held a shareholder. Delano v. Butler, 118 TJ. 8., 634. 12. When the previous proceedings looking to an increase in the capital stock of a national bank have been regular and all that are requisite, and a stockholder subscribes to his proportionate part of the increase and pays his subscription, the law does not attach to the subscription a condition that it is to bo void if the whole increase authorized be not subscribed; although there may be cases in which equity would interfere to protect him in case of a material deficienc3T. Aspinivall v. Butler, 133 TJ. S., 595. 13. The Comptroller of the Currency has power by law to assent to an increase in the capital stock of a national bank less than that originally voted by the directors, but equal to the amount actually subscribed and paid for by the shareholders under that vote. Ib. 14. Where one subscribes for shares in an increase of capital stock of a national bank and pays for the same without waiting to see whether the whole amount of the increase is taken, ho is bound by such subscription and payment, though the amount of the increase is afterward reduced by the bank and the Comptroller of the Currency. Bmtler v. Eaton, 141^ TJ. S.,%40. 15. The conditions imposed by Rev. St., sec. 5142, as to the validity of increase of national-bank capital were intended to secure actual cash payment of subscriptions and to prevent watering stock, not to invalidate bona fide subscriptions actually made and paid. Aspinivall v. Butler, 133 U.S., 595. 16. Stockholder in national bank who, with knowledge of its insolvent condition and of all material facts, subscribes for increased stock to same amount as his original stock, and amount of proposed increase is afterwards reduced, can not question validity of proceedings for such increase to annul such subscription and payment. Delano v. Butler, 118 TJ. 8., 634; Pacific National Bank v. Eaton, 141 lb.,227; Thayer v. Butler, Ib., 234; Butler v. Eaton, Ib., 56 REPORT OF THE COMPTROLLER OF THE CURRENCY. CAPITAL STOCK—Continued. 17. There can be no increase of the capital of a national bank until the Comptroller of the Currency approves thereof and issues his certificate, as provided by section 13 of the act of Congress providing for the organization of national banks. Charleston v. People's National Bank. 5 South Carolina, 103; 1 N. B. C, 898. C. Reduction— 18. A national bank, reducing its capital, can not retain, as a surplus or for anyother purpose, any portion of the money which it received for retired stock, and having refused to permit shares thus retired to be transferred on its books, is liable for the value of the shares to the holder. Seeley v. New Yor~k National Exchange Bank, 78 N. Y., 608; 4 Abb. New Cases, 61; 2 N. B. C, 340. 19. The capital of a national bank having become impaired by the nonpayment of the interest on some paper among its assets, to the amount of $71,000, in order to avoid an assessment by the Comptroller, the stockholders reduced its capital stock, and carried the bills and notes to the account of suspended or " bad debts," which were not therafter included as assets, although retained in its custody. Some years afterwards the bank realized $75,000 from collaterals pledged for the security of that paper. In a suit by a stockholder to recover his share of the amount realized, proportioned to the amount of stock surrendered: Held, That he could not recover. McCann v. First National Bank of Jeffersonville, 112 Ind., 354; 3 N. B. C.,434. CASHIER: See Officers. CERTIFICATE OF DEPOSIT: 1. National-banking associations may issue certificates of deposit. Riddle Y. First National Bank, 27 Fed. Hep., 503. 2. Certificates of deposit in the ordinary form, issued by a national bank to depositors, and payable to order, are not post-notes, within the prohibition of sec. 5183, Rev. St. Ib. 3. A certificate of deposit, payable to the order of the depositor on the return of the certificate, is not due or suable until demand made and return of the certificate, lb, 4. Certain persons, directors of a savings and of a national bank, procured money from the former on notes made by a third person to them for the payment of stock of the national bank, issued in the name of such third person for their benefit. These persons were behind in their accounts with the national bank, and the savings bank allowed them to overdraw their accounts with it to a large amount, which was used in settling their accounts with the national bank. Thereafter the savings bank delivered the notes and the check to the national bank, which issued to it a certificate of deposit for an amount covering the whole amount represented by them : Held, That this certificate of deposit was without consideration and void, and any loss accruing to the savings bank by virtue of the transactions was due to the fraud or incompetency of its own officers. Murray v. Pauly, 56 Fed. Hep., 962. 5. A certificate of deposit is evidence of so high and satisfactory a character as to the sum deposited that to escape its effect the maker must overcome it by clear and satisfactory evidence. Where the testimony, aside from the certificate, is balanced as to the amount deposited, the certificate will turn the scale. The First National Bank of Lacon v. Myers, S3 III., 507. 6. A certificate of deposit issued by a national bank, payable to the order of the depositor, on return of the certificate properly indorsed, and understood between the bank and the depositor not to be payable until a future day agreed upon, is not in violation of the National Banking Act. Hunt, appellant, 141 Mass., 515; 3 N. B. C, 474. 7. Suit against a bank upon a stolen certificate of deposit given by the defendant to the plaintiff, reciting that he had deposited in said bank a certain number of dollars, payable to his order in current funds, on the return of the certificate properly indorsed : Held, That the instrument should be regarded as the promissory note of the bank, assignable under the statute, "but that it was not negotiable as an inland bill of exchange, being made payable, not in money, but " i n current funds." The National State Bank of Lafayette v. Ring el, 51 Ind., 393. 8. Held, therefore, that the payee could recover on said stolen certificate without giving a bond to indemnify the bank against a subsequent claim thereunder by another person. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 57 CERTIFICATE OF DEPOSIT—Continued. 9. A person depositing money in a bank accepted from the cashier a certificate of deposit, which made no mention of interest, but with a verbal agreement that interest should be paid. The cashier at the same time indorsed a memorandum of the rate of interest on the stub from which the certificate was taken: Held, That the stub should be read with the certificate, as evidence of the entire contract. Thomson v. Beal, 48 Fed. Bep., 614 CHECKS: See Certification of checks; Collections. 1. A check is, substantially, an inland bill of exchange, and the rules applicable to such bills are alike applicable to checks. Bickford v. First National Bank of Chicago, 42 III., 238. 2. The check of a depositor upon his banker, delivered to another for value, transfers to that other the title to so much of the deposit as the check calls for, which may again be transferred by delivery, and when presented at the bank the banker becomes the holder of the money to the use of the owner of the check, and is bound to account to him for that amount, provided the drawer has funds to that amount on deposit, subject to his check, at the time it is presented. These checks are received and passed and depesited with bankers as cash, subject, of course, to be made good if not paid on presentation. This is the legal effect of an ordinary uncertified check. II). 3. In order to fix the liability of the drawer of an inland bill of exchange, or check, in case of nonpayment, the holder should present the bill or check to the person or bank on which it is drawn, within business hours of the day next succeeding the receipt of the paper, and give notice of the dishonor to the drawer. Ib. 4. In the case of a deposit of a check drawn upon itself the bank becomes at once the debtor of, the depositor, and the title to the deposit passes to the bank. Oddie etal. v. The National City Bank of New York, 45 N. Y., 735. 5. Where a depositor draws his check on his banker, who has funds to an equal or greater sum than his check, it operates to transfer the sum named to the payee, who may sue lor and recover the amount from the bank, and a transfer of the check carries with it the title to the amount named in the check to each successive holder. The Union National Bank v. The Oceana County Bank, 80 III., 212. 6. After a check has passed into the hands of a bona fide holder it is not in the power of the drawer to countermand the order of payment. Ib. 7. An instrument drawn by a depositor on a bank, in the following form, after giving the date and the name of the bank, "Pay to A and B, for account of C. & Co., ten hundred and eighteen 23-100 dollars/' and signed by the depositor, is a valid bank check, and will operate to transfer to the payees an amount of the drawers7 funds on deposit equal to the sum named on its face. The words "for account of C & Co." do not change its character as a check. A bill or note without at all affecting its character as such may state the transaction out of which it arose, or the consideration for which it was given. The Bidgely National Bank v. Patton & Hamilton, 109 III, 479. 8. A bank check, payable to attorneys on account of a debt due from the drawers to the clients of the attorneys, vests the legal title in the payee named, as trustees for the clients, and a suit thereon against the bank is properly brought in the names of the payees. Ib. 9. A debtor gave his check on a bank for the amount of his indebtedness, payable to the attorneys of the creditor, w^hich the bank refused to pay, alleging an agreement of the debtor to apply his deposits on other indebtedness. It was held that the bringing of an action by the creditor against his debtor did not estop him from bringing an action on the check in the name of his attorneys, the payees, against the bank. Ib. 10. M, who kept an account with the M and M Bank of Troy, deposited with that bank a check given for value, drawn by defendant, payable to the order of M, and indorsed by him in blank. Said bank credited the amount of the check in M's bank pass book, which was returned to him, and on the same day it mailed the check to plaintiff, its correspondent in New York, and its creditor, to be credited on account, and it was so credited. M stopped payment of the check, and when plaintiff caused payment to be demanded of the drawee, it was refused. Notice of presentation and x^rotest was given to defendant who subsequently paid the amount to M. In an action upon the check: Held, That upon the deposit the M and M Bank became the owner of the cheek, and as such, could 58 REPORT OF THE COMPTROLLER OF THE CURRENCY. CHECKS—Continued. ajid did give a perfect title to its transferee, and that plaintiff was entitled to recover. The Metropolitan National Bank of New York v. Lloyd, 90 N. Y.,530. 11. The implied contract between a bank and its depositors is that it will pay the deposits when and in such sums as are demanded, the depositor having the election to make the whole payable at one time by demanding the whole, or in installments by demanding portions; and whenever a demand is made by presentation of a genuine check in tho hands of a person entitled to receive the amount thereof for a portion of the amount on deposit, and payment is refused, a cause of action immediately arises, and tbe statute of limitations begins to run as against the installment so due and payable Viels v. The Union National Bank of Troy, 101 N. Y., 563. 12. While a check drawn by a. depositor against a general bank account docs not operate as an assignment of so much of the account, it authorizes the payee, or one to whom he has indorsed and delivered it, to make a demand, and a refusal of the bank to pay on presentation gives the drawer a right of action, in case ho has funds in bank to meet the check, and tho refusal was without his authority. II), 13. It is not enough to make an equitable assignment of money on deposit in bank that a check be drawn therefor; but where the money was deposited as the money of the holder of the check, though in the drawer's name, and that fact is communicated to tho bank before any other right has accrued to tho fund, the same becomes in equity the property of the holder of the check, and he may recover it from the bank. Van Allen v. The American National Bank, 3 Lans., 517. 14. The holder of a check on a bank can not sue the bank for refusal to pay it on presentation, though, the drawer have sufficient on deposit to meet it. Creveling el al. v. Bloomsbury National Bank, 46 N. J., 255. 15. Tho implied engagement on the part of a banker to pay the checks of his depositor does not inuro to tho benefit of the holder of a check so as to enable him to enforce payment thereon against the bank prior to acceptance, and in the absence of assent by the banker the giving of the check does not operate as a transfer or assignment of the debt created by the making of the deposit. First National Bank of Union Mills v. Clark, 134 N. Y.^S6S. 16. Where it is shown to be out of a bank's course of business to receive for collection checks drawn on it by its depositors, and a check on it, drawn by one of its depositors in favor of another, is presented by the latter and the amount thereof is credited on his pass book as a deposit, and the checkis placed on the file of paid and canceled checks, and afterwards the amount of the check is also entered to his credit and charged against the drawer on the books of the bank; these facts constitute a payment of the check, and tho amount of it can not be withheld by tho bank on discovering that the check wTas an unauthorized overdraft and the drawer was insolvent. City National Bank of Sclmav. Burns, 68 Ala. 600. 17. A charge is erroneous and properly refused which affirms, as matter of law, that, if tho drawer and x>«iyee of a check are customers of the .bank on which it is drawn, the presentation of tho check by the payee to the bank and the noting or entry of it by the bank on his pass book as a deposit do not operate as a payment of tho check; and that, if within a reasonable time tho bank ascertains that the checkis an unauthorized overdraft and offers to return it, there is no liability to the depositor. Ib. 18. In such case no presumption arises that tho bank received the check merely for collection and in the capacity of agent for the holder; but a presumption of payment of the check does arise and the onus of overcoming that presumption rests upon the bank, and it can only be removed by evidence that such was not the intention of the parties, derived from the course of business with tho depositor or from contemporaneous acts or declarations. Ib. 19. If a holder of a check, with full knowledge that the drawer is without funds in tho bank to meet it, and has no just reason to believe that the check will bo honored in the absence of funds, he is wanting in good faith if ho demands and receives payment, especially if it is known to him that the drawer is insolvent and the bank is ignorant of the insolvency. Ib. 20. In such case, fraud being imputed to the holder of the check, knowledge of the want of funds must bo clearly traced to him. It can not be inferred from the relations existing between him and the drawer, however intimate, unless connected with inculpatory facts or circumstances. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 59 CIIKCKS— Continued, 21. A check, drawn and delivered to the person to whose order it is payable, docs not, without acceptance by the drawee, operate as an assignment of the sum in his hands for which it is given. It may be revoked by the drawer at any time before acceptance, and is revoked by his death ; and there being no privity, express or implied, between the payee and the drawee, the former can maintain no action on it against the hitter. National Commercial Bank v. Miller $ Co., 77 Ala. 168. 22. When a bank receives from i\ customer a check on another bank, for the special purpose of collection, the title does not pass by the special indorsement fo/that purpose; nor does the receiving bank owe the amount until the check is collected. But where the customer has a deposit account with the bankers, on which he is accustomed to deposit checks payable to himself, which are entered on his pass book, and7 to draw against such deposits, an indorsement of the words "For deposit' on a check so deposited, " is, in the absence of a different understanding, presumptive of more than a mere agency or authority to collect;77 it is a request and direction to deposit the sum to the credit of the customer, and gives to the bankers authority, not only to collect, but to use the check in such manner as, in their judgment and discretion, having reference to the conditions and necessities of their business,-may make it most available to their protection, and they may have it certified by the bank on which it is drawn. Ib. 23. When checks on another bank are handed by a depositor to the receiving teller of a bank and are by the teller credited on the depositor's pass book, they are only received for collection, and if not paid on presentation may be returned and the credit in the pass book canceled. National Gold Bank and Trust Company v. McDonald, 51 Cal., 64. 24. If a customer of a bank hands the receiving teller a check drawn by another person upon the same bank and at the same time hands him his pass book, and the teller receives the check and enters a credit for the amount in the pass book but no entry is made on the books of the bank, and nothing else is said or done, and the drawer has no funds in the bank, the check may be returned to the depositor and the credit in the pass book canceled. Ib. 25. In such case a finding by the court that the check was received as a cash deposit is erroneous. Ib. 26. The fact that the cashier of a bank upon which a77 check is drawn takes the check and places it upon the "cancelling fork, does not constitute such an acceptance as will prevent him from declining to pay and returning the same upon learning that the drawer has«not sufficient funds, or if the check is not in proper form. The Natioyial Banlc of Bockville v. The Second National Banlc of Lafayette, 69 Ind., 479. 27. Where the larceny of a bank check is charged the question of its value is for the jury, and it is error to instruct them that a check drawn on a bank where the maker has funds sufficient to meet it is presumptively of some value. Burrows v. State,- 87 N. E., 271. 28. The act of Congress of March 3,1869 (Rev. St., sec. 5208), making it unlawful for national banks to certify checks unless the drawer has at the time an amount of funds on deposit equal to the amount specified in the check, does not invalidate an oral acceptance of a check, or. promise to pay a check, there being at the time sufficient funds of the drawer in possession to meet it. First National Bank \. Merchants1 National Bank, 7 W. Ya.,544; 1 N. B. C, 915. 29. A check drawn on a national bank was presented for acceptance, whereupon the bank promised to pay it as soon as it received information that a certain draft left with it for collection was paid. The draft was paid and the bank informed. Held, That the acceptance was good and binding on the bank. Ib. 30. The refusal of the bank to pay a check upon presentation gives the drawer a right of action in case he has funds in the bank to meet the check, and the refusal to pay was without authority. Brooke v. Tradesmen's National Bank, 22 N. Y. St., 633; 68 Hun., 129. 31. The measure of damages will be the amount of actual loss the party has sustained, which may fairly and reasonably be considered as naturally arising from the breach of the contract, according to the usual course of things. Ib. 32. The ordinary amount of damages in such case would be the amount of check, interest, and costs. Ib. 33. The immediate entering of a judgment against the drawer and the seizure of his business by the sheriff, in consequence of the failure of the bank to pay the check, is not an injury for which the bank would be liable. Ib. 60 REPORT OF THE COMPTROLLER OF THE CURRENCY. CHECKS—Continued. 34. The term " protest/' as applied to inland bills of exchange, includes only the steps essential to charge the drawer and mdorser. Wood River Bank v. First National Bank of Omaha, 55 N. W., 239; 36 Neb., 744. 35. Bank checks in the country are regarded as inland bills of exchange, for the purpose of presentment and demand and notice of dishonor, and do not require a. formal protest in order to charge the indorsers. Ib. 36. They are also due upon presentation and not entitled to days of grace. Ib. 37. A check operates as an equitable assignment pro tan to from the time it is drawn and delivered, as between the drawer and the payee or holder. Hidings v. Hidings Lumber Company et al., 18 S. E., 620; 38 W. Va., 351. 38. A general assignment for the benetit of creditors does not defeat the check holder, although the check be not presented to the bank for payment until after such assignment. Ib. CERTIFICATION OF CHECKS: See Collections. . 1. A national banking association may "certify" a check, Merchants7 National Bank v. State National Bank, 10 Wall., 604. 2. The certification of a check by a bank is, in effect, merely an acceptance, and creates no trust m favor of the holder of the check and gives no lien on any particular portion of the assets of the bank. People v. St. Nicholas Bank, 28 N. Y. St., 407; 58 N. Y. St., 712. 3. A certified check has a distinctive character as a species of commercial paper, the certification constituting a new contract between the holder and the certifying bank. The funds of the drawer are, in legal contemplation, withdrawn from his credit and appropriated to the payment of the check, and the bank becomes the debtor of the holder as for money had and received. National Commercial Bank v. Miller $ Co , 77 Ala., 168. 4. Where the defendant has a right of election, on account of a tort committed, either to suefor the tort, or, waiving the tort, to sue for money had and received, the* relation of debtor and creditor does not exist until he elects to sue for the money; and his creditors can not defeat his election by garnishment against the wrongdoer. But this principle does not apply where the garnishees, having received a check from the defendant, with authority to collect for deposit and use, have had the check certified by the bank on which it is drawn, before the service of the garnishment; being authorized to have it certified, and the relation or' the parties being thereby changed, they are liable to the defendant for the amount of the check, as for money had and received, and that liability may be reached by garnishment. Ib. 5. A broker received coupon railroad mortgage bonds to cover future margins of a customer and pledged them to a ba'nk as collateral security for any indebtedness he might owe to it. Afterward the bank advanced money and certified checks on the faith of these bonds, when broker did not have money on deposit equal in amount to the checks: Held, under sec. 5208, that although the certifications were unlawful the checks certified were good and valid obligations against the bank. Thompson v. St. Nicholas National Bank, 146 V. JS., 240. 6. In an action by a bona fide holder of a check drawn on defendant, a national bank, and certified by its cashier: Held, That the defendant was liable, although the drawer had no funds in the bank when the check was certified. Cooke v. The State National Bank of Boston, 52 N. Y., 96; 1 N. B. C, 698. 7. Where a postdated check is certified by the cashier of the bank on which it is drawn to be "good, " by indorsement thereon before the day of its date, the instrument, upon its very face, communicates facts and information to persons receiving the same that the cashier, in making such certification, was not acting within the known limits of his power, and that he was clearly exceeding them. The Clarke National Bankv. The Bank of Albion, impleaded, etc., 52 Barb., 592. 8. I t appearing, on the face of such paper, that it was certified by the cashier before its payment could have been legally demanded, and before it could be presumed" that the drawer had made a deposit for its payment, this is, in the law, full notice to a purchaser. Ib. 9. To enable a holder of such check to recover of the bank upon it, it mustappear that he became the owner and holder in good faith for a full and fair consideration in the usual course of business, and without notice of < the cashier's want of power to make the certification. He must have parted with something of value upon the strength and in consideration of the transfer of the paper. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 61 CERTIFICATION OF CHECKS—Continued. 10. If he parted with nothing before the check was dishonored, he stands in privity with his immediate indorsers, and is affected by all that will affect them. Ib. 11. Crediting the indorsers with the avails of the check on the books of the holder is in no sense a paying over. The holder, upon receiving notice of dishonor, has an undoubted right to erase such credit, and to restore it only at the special instance of the indorsers from whom he received the check. Ib. 12. The receipt of a certified check is not, of itself, payment. Such a check does not cease to be commercial paper and become money. Certifying a check to be "good" is nothing more than a promise by the bank upon which it is drawn to pay it when presented, as in the case of the acceptance of a bill of exchange. If an accepted bill be protested for nonpayment, and the drawer duly notified thereof, he is bound to pay the bill, with damages and costs. The same is the laAV with regard to a certified check. Bickford v. First National Bank of Chicago, 42 III., 238. 13. As the acceptance of a bill of exchange does not discharge the drawer, so neither should the acceptance of a check, manifested" by the word "good" placed upon it by the bank, discharge the drawer. They rest on the same principles. In this respect there is no difference between an uncertified and a certified check; the dishonor of either must make the drawer liable. Ib. 14. There is this difference, however, between a certified and an uncertified check: In case of the former, the amount of the check is supposed to ba at once charged up against the drawer, and thus placed beyond his control, while the holder of an uncertified check may be anticipated by another, who also holds a check on which he may draw the money. The certificate is an unconditional promise on the part of the bank to pay the check on demand. The object in certifying the check is to give it a currency value and to enable the holder to use it as money. Ib. 15. Although it be the fact that certified checks pass from hand to hand as cash, still they are not cash or currency, in the legal sense of those terms, and they do not lose, on that account, any of their characteristics as bills of exchange, and therefore, when dishonored, the holder has a right to look to the drawer for payment. Ib. 16. In this case a check was drawn and certified and deposited in a bank after 10 o'clock a. m. and before 3 o'clock p. m. on a certain day, where it remained until the next morning, when it was taken, in the usual course of business, to the bank on which it was drawn. The bank was closed and continued so. The check was protested for nonpayment and due notice given. This was sufficient diligence to hold the drawer. Ib. 17. The holder of a certified check has the right to hold the drawee and acceptor, as well as the drawer. So, where the acceptor has failed and made an assignment, the holder waives none of his rights against the drawer by giving notice to the assignee of the acceptor not to pay over any money to the drawer out of assets which might come to his hands in that capacity. Ib. 18. A certificate of a bank that a check is good is equivalent to an acceptance; it implies that a check is drawn upon sufficient funds in the hands of the ' drawee; that they have been set apart for its satisfaction, and that they shall be so applied whenever the check is presented for payment. Merchants' National Bank v. State National Bank, 10 Wall., 604; 1 N B. C.f 47. 19. National banks have the power to certify checks, and this power may be exercised by the cashier without special authorization. The directors may limit his exercise of this power as they deem proper, but such limitation will not afreet a person ignorant thereof who deals with the cashier in relation to matters apparently within the scope of his power. Ib. 20. A bank, knowing that the county treasurer of the county had not sufficient county funds in his hands to balance his official accounts, consented to give him a fictitious credit in order to enable him to impose upon the county commissioners, who were about 7to examine his accounts. They accordingly gave him a "cashier's check' for $16,571.61, which he indorsed and took to the commissioners. They received it, but refused to discharge him or his bondsmen, and placed the check and such funds as he had in cash in a box and delivered them to his bondsmen. The latter deposited the money and the check in another bank in the same place, which bank brought suit against the bank which issued the check to recover upon it: Held, 1, That the circumstances under which the check was issued were a plain fraud upon the law, and also upon the county commissioners; 2. that their 62 REPORT OF THE COMPTROLLER OF THE CURRENCY. CERTIFICATION OV CHECKS—Continued. .21. 22. 23. 24. 25. receipt of it and turning it over to the sureties was a. single act, intended to assist the sureties in protecting themselves, and was inconsistent with the idea of releasing them from their obligation. Thompson v. Sioux Falls National Bank, 150 U. S., 231. Though the draper of a check, before delivering it, has it certified, he will not be relieved from liability thereon, the bank having failed before payment thereof, though presented in duo season. Randolph National Bank v. Hornblower ct al., 35 N. E., 850; 160 Mass., 401. Where the drawer of a check, before delivering it to the payee, has ifc certified as good by the bank upon which it is drawn, and the payee presents it in good season for payment, and gives due notice to the drawer of its nonpayment, and the bank had failed at the time of presentment for payment, the drawer will not be discharged from liability on the check. Cincinnati Oyster and Fish Co. v. National Lafayette Bank., 36 N. E., 833. As a general rule the certification of «i check in the hands of the payee, the body of which is unaltered, releases the drawer from further liability, and creates a direct liability from the bank to the payee, while as between the bank and the drawer it operates as a payment, to that extent, on his account; and although prior to its being certified the check may bo countermanded by the drawer, after its certification it has passed beyond his control, and he no longer has power to countermand its payment. Meridian National Bank of Indianapolis v. First National Bank of Shelbyville, 34 N. E., 608; 7 Ind. App.y 322. The indorsement of a check by the person to whom it was actually issued, and by whom the drawer intended the money should bo received, is an effectual indorsment to pass title to the check to a bank cashing the sams; and the indorsement is not, as to such bank, invalidated by reason of the payee acting tinder an assumed and fictitious name, when he was not impersonating any other individual. Ib. A bank cashing, in good faith, a check so drawn and indorsed may collect the amount thereof of the bank which has certified the same. Ib. CIRCULATION: 1. TTi3 circulating notes of a national-banking association are valid though they do not bear the imprint of the seal cf the Treasury. Such imprint w.ns intended to be simply evidence of the contract, and forms no part of the contract itself. United States v. Bennett, 17 Blatch.', 357. 2. The State cannot tax the circulating notes of national-banking associations. Home v. Greene, 25 Miss., 452. 3. The State, until forbidden by Congress, has the power to tax national-bank bills. Lillii v. The Board of Commissioners of Cumberland County, 69 N. C, 300. 4. The circulating notes of national banks, known as unational currency/' are not exempt from taxation by a State. Board of Commissioners of Montgomery County v. Elston, 32 Ind., 27; 1 N. B. C., 425 5. The power of a State to tax the circulation of the national banks depends upon whether such circulation is for the use of the United States GoVernment, or for private profit. Congress can protect the circulation of those banks, by forbidding the States to tax it. Until this is done, the States have a right to tax it. Ruffin v. Board of Commissioners, 69 N. C, 498; 1 N. B. C, 806. 6. The tax of 10 per cent imposed by the act of July 13, 1866 (14 Stat. at Large 146, sec. 9) on the circulation of State banks used for currency and paid out by the national or State banks is not repugnant to the Constitution, either on the ground that the tax is a direct tax, which must be apportioned, among the several States, or that the act impairs franchises granted by the State. Veazie Bankx. Fcnno, 8 Wall., 533; 1 N. B. C, 22. 7. Congress having undertaken, in the exercise of undisputed constitutional power, to provide a currency for the whole country, may constitutionally secure the benefit of it to the people by appropriate legislation, and to that end may restrain by suitable enactments the circulation of any notes not issued under its own authority. Ib. 8. The provision of section 3413 of the national bank act, that u every national banking association, State bank or banker, or association, shall pay a tax of 10 per cent on the amount of notes of any town, city, or municipal corporation paid out by them/ 7 is constitutional, even whero its effect is to tax an instrumentality of a State. Merchants' National Bank of Little Rock v. United States, 101 U. S., 1; 2 N, B. C, 100. REPORT OF THE COMPTROLLER OF THE CURRENCY. 63 CIRCULATION—Continued. 9. The circulating notes of national-"banking associations arc included in the phrase "United States currency 7 when used in a penal statute. State v. Casting, 23 La. Ann., 1600. COLLATERAL SECURITIES : 1. A national-banking association may take stock of a corporation aa collateral security for a Loan. • Shoemaker v. The National Mechanics' Bank, 2 Abb. U, S.,416; 1 N. B. C, 312. 2. And it may take for such purpose the stock of another national-banking* association. National Bank v. Case, 99 U. S., 628. 3. A national-banking association may takca-pledgo of personal chattels as security for a loan. Pittsburg Locomotive and Car Works v. State National Bank of Keokuk, 2 Cent. L. J., 692; 1 N. B. C\, 315. 4. A national banking association may take as collateral security for a loan a warehouse receipt for merchandise. Cleveland, Brown § Co., v. Shoeman, 40 Ohio St., 176. 5. Whore stockholder borrows money from bank and gives as security certificate of his shares of its stock, he is not entitled to recover when, on nonpayment of loan, the bank sold his stock and applied proceeds to his credit. National Bank of Xenia v Stewart, 107 U. S., 676. 6. Creditor of insolvent bank has the right to prove and have dividends upon his entire claim, irrespective of collateral security he may hold. Peoples v. Remington, 121 N. Y., 328. 7. A pledgee of stock in a private corporation holding the certificates as collateral security,-and having had the transfer duly entered on the books of the corporation, is liable to creditors as the owner thereof on the subsequent insolvency and dissolution of the corporation; and this liability is governed by the law in force when their debts were created (Rev. Code, 1887. sec. 1760), although it had been repealed or abrogated before the stock wTas transferred to him. National Commercial Bank v. McDonnell, 92 Ala., 387. 8. It is the duty of a receiver, if a secured debt is so reduced by dividends that the security will more than pay it, to redeem the security for the benefit of his trust. West v. Bank of Hull and, 19 Vermont, 403 \ Miller's Estate, 82; Penn. St., 113; Bates v. Paddock, 7 Western Reporter, 222. 9. A sale of shares of stock pledged as collateral security, without notice to the pledgor, is not a conversion, when it appears that the stock wras knocked down to a nominal purchaser without his knowledge or consent, and that the certificates, though changed into his name, were never delivered to him, but were retained by the pledgee until after a subsequent sale pursuant to notice. Terry v. Birmingham National Bank, 93 Ala., 599. 10. For an unauthorized sale of stock pledged as collateral security, amounting to a conversion, the pledgor is entitled to recover, as damages, the market value of the stock at the time of the sale, with interest to the day of the trial; and the jury may, in their discretion, allow the highest market value at any time between the sale and the trial. Lb. 11. This suit was brought to recover the value of certain bonds, which, it is claimed, had been left at the bank as collateral security for money which the bank might, from time to time, advance the ^plaintiff. The plaintiff testified that on July 1, 1868, he went to the bank tb obtain a loan upon this security; that the bonds could not bo found, but that he leceived the money. The defendant requested the court to instruct the jury that, "if the bonds were not found by the bank when the note of July 1 was offered and were not afterward found, the jury are not authorized to find that they were taken and held as collateral security for the note of July 1:" Held, That this instruction was properly refused. Dearborn v. The Union National Bank of Brunswick, 61 Me., 369. 12. A bank is bound to take only ordinary care of United States bonds pledged to it as collateral security for the payment of a note discounted by the bank. Jenkins v. National Village Bank of Bowdoinham, 58 Me., 275. 13. A writing, executed by the cashier, acknowledging the receipt by the bank, " t o be returned to him on the payment of Ins note in four months, dated May 9, 1866," is not a contract which increases the common-law liability of the bank, even if the cashier had the authority to do so. lb. 14. Securities taken by sureties for their indemnity, inure to the benefit of the creditor. Thornton v. National Exchange Bank, 71 Mo., 221; 3 N. B. C, 513. 15. Creditors holding collateral security are liable for negligence in realizing thereon, National Bank of Jefferson, v. Bruhn el al.^64 Tex., 571. 64 REPORT OF THE COMPTROLLER OF THE CURRENCY. COLLATERAL SECURITIES—Continued. 16. In an action by a pledgee upon the debt secured by the pledge he is not required to account for noimegotiable securities judged to him by defendant, in the absence of any allegation or proof that he has lost or misappropriated them. Marberry v. Farmers and Mechanics' National Bank. 26 8. W.,215. 17. The cashier of a bank has no authority to assign collaterals belonging to himself, which were given to secure a loan to another person for the cashier's benefit. Merchants' National Bank v. Demere, 19 S. E., 38. 18. One who borrows money from a bank for the cashier thereof, on collaterals belonging to the cashier, is not entitled to credit for amount of such collaterals after they have been wrongfully withdrawn and converted by the cashier. Ib, 19. When shares of stock in a private corporation are pledged as collateral security for a debt, and default is made in the payment of the debt at maturity, the pledgee may iile a bill in equity to foreclose the pledge by a sale under the order of the court, or he may exercise the implied power to sell without resorting to judicial proceedings; but, if he elects to pursue the latter remedy, the sale must be at public auction, in the absence of a special agreement, and reasonable notice must be given to the pledgor; and if he sells privately, without notice, becoming himself the purchaser, the relation between him and the pledgor is not thereby dissolved. Sharpe v. National Bank of Birmingham, 87 Ala., 644. 20. If the pledgor, when notified of the irregular or unauthorized sale, accepts its benefits, giving his note for the balance of his debt remaining unpaid, this is presumptively a ratification of the sale, and he can nofc afterward impeach it; but, if lie acted in ignorance of the fact that the pledgee himself was the purchaser, and did not intend to make an absolute and unconditional ratification without regard to the facts attending the sale, he may disaffirm it within a reasonable time after discovering that the pledgee was the purchaser. Ib. 21. If a part owner of certificates of stock pledges them, with the consent of the other owner, as collateral security for his own debt, and they are converted by the pledgee, the pledgor is entitled to recover as if he were the sole owner, the pledgee being estopped from denying his absolute ownership. Ib. 22. Rev. St., sec. 5242, which declares all deposits, all transfers of deposits, and all payments of money made by a national bank after an act of insolvency, or in 'contemplation thereof, to be null and void, does not render illegal the retention of a balance standing to the credit of an insolvent national bank with a correspondent on the day of its failure, which has been pledged for the purpose of securing loans made by the correspondent to the insolvent bank. Bell v. Hanover National Bank, 57 Fed. Rep., 821. 23. Where a deposit with a coirespondent has, long prior to the commission of the act of insolvency by a national bank, been pledged as collateral to secure the payment of loans made to the insolvent by its correspondent, neither the subsequent insolvency of the bank, nor the appointment of the receiver, destroys the lien of the correspondent, or its rights to dispose of the pledge to satisfy the debt secured. Ib. 24. Creditors of an insolvent national bank can not be required, in proving their claims, to allow credit for any collections made after the date of the declared insolvency from collateral securities held by them. Chemical National Bank\. Armstrong, 59 Fed. Hep., 372. 25. Rev. St. U. S., sec. 5242, which prohibits all transfers by any national banking association made after the commission of an act of insolvency, or in contemplation thereof, with a view to the preference of one creditor over another, is directed to apreference, not to the giving of security when a debt is created; and if the transaction be free from fraud in fact,and is intended merely to adequately protect a loan made at the time, the creditor can retain property transferred to secure such loan until the debt is paid, though the debtor is insolvent, and the creditor has reason at the time to believe that to be the fact. Armstrong v. Chemical National Bank, 41 Fed. Rep., 234. 26. The plaintiff, a judgment creditor of the defendant, had the steamboat Einta seized. The defendant had pledged it to the Third National Bank of New York, but remained in possession for his own account, and never completed the pledge by an actual delivery to the pledgee. The act of pledge was drawn up in the common-law form, and was intended to operate as a chattel mortgage. It contains, as to the form of the act, the essentials of an act of pledge. Citizens' Bank of Louisiana v. Janin (Third National Bank of Neiv York, Intervener), 15 So., 471, 40 La. Ann. REPORT OF THE COMPTROLLER OF THE CURRENCY. 65 COLLATERAL SECURITIES—Continued. 27. The Third National Bank, as pledgee, claimed the proceeds of the sale. The property, when it was seized, was in the possession of the subtenant. It is not proved that plaintiff colluded with the defendant, and thereby gained an improper advantage. Pledge is not made perfect by the consent of the parties. It requires absolute possession. The alleged pledgee never was in possession during the tenure of the defendant. Ib. 28. It (the Third National) could not obtain possession through the agency of the sublessee, who held possession for his lessor, the defendant. Ib. 29. A pledge can not be made perfect by the sublessee's delivery of possession without the consent of his lessor. Ib. 30. The obligation of the lessor to account for the property, and whatever revenues were realized therefrom, binding between him and his creditor, the Third National Bank—the property not having been delivered—did not affect his other creditors, who could seize the property in his possession, or in that of his sublessee, who held possession for his lessor. Ib. 31. In an action by a bank on a promissory note, it appeared that defendant delivered as security the promissory note of S., to which was annexed, as collateral security, a certificate of corporate stock in the name of S.; that defendant, with the consent of S., agreed that the bank might sell the stock, and take in place of the note of S. the note of the purchaser, secured by the same stock reissued in the name of the purchaser; and that the bank sold the stock', and took in payment notes secured by the stock, payable to itself, with which notes defendant had no connection, and over which he had no control: Held, That as the bank had converted the stock to its own use, defendant's note must be credited with the value of the stock at the time of conversion. Pauly v. Wilson, 57 Fed. Kej)., 548. 32. Plaintiff had in its possession collateral security for a debt due from a third party, who also owed the defendant: Held, That an agreement by the parties in interest that any sum received on such collateral security in addition to the indebtedness first secured thereby, should be applied on the- debt due from defendant operated as an equitable assignment to defendant of such surplus, if any there should be. /Second National Bank v. Sproat, 56 N. W., 254. COLLECTIONS: See Checks; Certified checks. A. Solvent banks— 1. Where the holder of a bill of exchange, payable at a distant place, deposits it with a local bank for collection, he thereby assents to the course of business of banks to collect through correspondents, and the correspondent of the local bank to which the bill is forwarded becomes his agent and is responsible to him directly for negligence in failing to present the bill for payment within the proper time. Guelich v. The National State Bank of Burlington, 56 Iowa, 434. 2. The payee of a check deposited it for collection with bank A on the same day it was made. The bank presented it for payment the next day shortly before 11 o'clock, and the drawee's check on bank B, only a few blocks distant, was taken in payment. The drawee became bankrupt at 1 o'clock. Several checks given after this, one by the drawee on bank B, were paid before 1 o'clock. Before 3 o'clock_, bank A presented the check in question for payment, which was refused, whereupon it immediately went to the drawee, and, after recovering the original check, protested it: Held, That the drawer of the check was not liable thereon. Anderson v. Gill, 29 A., 527. 3. Where the payee of a check makes a- demand on the drawee and receives something other than cash in payment, he can not, by making a second demand, though within the time allowed for presenting a check, undo the first, and render the drawer liable on the bankruptcy of the drawee. Ib. 4. Two bills of exchange, belonging to the plaintiff at Chicago, were indorsed for collection to a bank at Atchison, Kans., and by said Atchison bank to a bank at Kansas City, Mo., and by the latter to defendant, a bank at Hutchinson, Kans: Held, That they remain the property of plaintiff, all the indorsements being restrictive. First National Bank of Chicago v. Reno County Bank, 1 McCrary, 491. 5. An indorsement on; a bill of exchange directing the drawee to pay to another "on account of' the indorser, or " for collection," is a restrictive indorsement, the effect of which is to restrict the further negotiability of the bill, and to give notice that the indorser does not thereby give title to the bill, or to its proceeds when collected. Ib. 6. Although there may be no privity between the owner of the bill and the last indorsee, yet, if the latter collects the bill, he is bound to pay the pro8182 CUR 5 66 REPORT OF THE COMPTROLLER OF THE CURRENCY. COLLECTIONS—Continued ceeds to the owner, and the latter may recover in assumpsit, on the ground that the defend ant has property in his possession which belongs to the pLamtiff, and refuses to pay the same over. Ib. 7. A bank receiving an indorsed note before maturity for collection is required to take the proper steps to fix the liability of the indorser. West v. St. Paul National Bank, 56 N. W., 54; 54 Minn., 466. 8. In an action by the owner of the note for neglect of that duty, resulting in the discharge of the indorser, the question of the solvency of the maker is material as affecting the measure of damages. Ib. 9. Insolvency may be shown prima facie by proof of general reputation. Proof of insolvency within a reasonable time after the maturity of the note held admissible. Ib. 10. A bank receiving for collection, from a correspondent, checks drawn upon it by a customer, with instructions to protest in case of nonpayment, is required, in case payment is refused for want of funds, to give notice to the bank from which they were received not later than the next day after dishonor; and when they are held for two days in order to enable the drawer to provide funds for payment'thereof a jury will be warranted in finding that the bank intended to accept them, and become liable thereon. Wood Elver Bank v. First National Bank of Omaha, 55 N. W., 239. 11. The indorsement of a draft to a bank "for collection," accompanied by a credit of the amount to the indorser's account, does not transfer title to the bank, and correspondent of the bank who collects draft for it is responsible therefor to indorser. Tyson v. Western National Bank of Baltimore, 26 Att. Bep., 520. B. Insolvent banks— 12. The Winters National Bank sent to the Fidelity Bank a note of $2,000 for collection, and indorsed "Pay Fidelity National Bank, Cincinnati, Ohio, or order, for collect ion for 77 account of the Winters National Bank, Dayton, Ohio, J. C. Reber, cashier. The Fidelity Bank forwarded it to the'Drovers and Mechanics' Bank, which received payment thereof at maturity. Before the Fidelity Bank received notice and remittance of the $2,000, it became insolvent, and went into the hands of a receiver, who took the $2,000 and credited the Winters Bank therewith: Held, That the Fidelity Bank did not own thenote, and the Winters Bank was entitled to the full $2,000 as against the Fidelity Bank's receiver. In re Armstrong, 33 Fed. Rep., 405. 13. Plaintiff sent to F bank a draft indorsed " for collection/' accompanied with instructions to "collect and credit proceeds.7' F bank sent the draft to the defendant and the latter collected it, received the proceeds, and credited them to the F bank in accordance with the usual course of business between the F bank and the defendant, and notified the F bank of the credit. The F bank suspended business before crediting plaintiff with the proceeds, but after they had been collected and after it had received notice of the credit. After the suspension of the F bank the receiver appointed over its affairs credited plaintiff with the proceeds of the draft on the books of the bank: Held, That the indorsement "for collection" was notice fco the defendant of the qualified title to the F bank, and defendant could not acquire any better title to the draft or the proceeds than that of the F bank, and could not, as against the plaintiff, apply the proceeds to an account owing the defendant from the F bank; and that the defendant could only defeat an action brought to recover the proceeds in its hands by showing that the draft or its proceeds belonged to the F bank. First Nat. Bank of Circleville v. Bank of Monroe, 33 Fed. Bep., 408. 14. Held, further, That the relation of principal and agent continue between the plaintiff and the F bank so long as the latter did not assume the relation of primary debtor to the plaintiff for the rjroceeds o f ^he draft; that the plaintiff not having been credited with the proceeds by the F bank, the relation between them remained that of principal and agent, and not debtor and creditor; and that the F bank, not having credited the plaintiff with the proceeds while it was a going concern, could not, by doing so subsequently, change the existing relation. Ib. 15. Held, In. an action brought by the plaintiff against the defendant to recover the proceeds of the draft, the defendant, not having remitted the proceeds to the F bank, was liable to the plaintiff for the amount. Ib. 16. Plaintiff's sent to a certain bank a bill of exchange indorsed to said bank for, collection. At the time the bank received the bill of exchange it was insolvent to the knowledge of the managing officer, and on that day, or REPORT OF THE COMPTROLLER OF THE CURRENCY. 67 COLLECTIONS—Continued. 17. 18. 19. 20. 21. 22. following morning, it failed. Prior to the failure it indorsed the bill of exchange to defendant bank, which collected it and kept the proceeds, crediting the insolvent bank, which was indebted to it, with the amount thereof: Held, That the first bank acquired no title because of its fraud in not disclosing its insolvency, and defendant had EO better title, as plaintiffs' indorsement showed that the bank was merely plaintiffs' agent to collect the proceeds. Peck et al. v. First Nat. Bank, 43 Fed. Bep., 356. Plaintiff sent to defendant's bank paper indorsed " For collection and immediate return " to plaintiff, and the paper was collected and the proceeds mingled with other moneys of the bank, instead of forwarded to plaintiff. The bill contained an uncontroverted allegation that defendant's bank at all times subsequent to the collection and at the time of defendant's appointment as receiver, had on hand cash to a greater" amount than that due plaintiff. The bill asked to have the balance due plaintiff paid in full on the ground that the bank by receiving the paper for collection and immediate return became a trustee, and that either its entire property or the money in its vaults became impressed with the trust: Held, That if the mingling of the funds was a breach of trust it was a conversion; and plaintiff" became a simple contract creditor, with no preference at law. Philadelphia National Bank v. Vowd, 38 Fed. Bep., 172. It was immaterial whether or not the bank stood in a fiduciary capacity to plaintiff, as the facts stated in the bill showed that the money collected could not be traced into any specific investment or fund, but had been iiHlistinguishably mingled with the general assets. Ib. By agreement and custom the Fidelity Bank received drafts from its correspondent bank at E, and credited them to it as cash, with the understanding that any draft which was unpaid should be charged back to the correspondent. The latter forwarded drafts, which were credited to it but were not collected before the Fidelity Bank failed. The drafts were paid after the appointment of a receiver and the moneys actually came into his hands. The drafts were indorsed payable to the Fidelity Bank "for collection for t h e " bank at E: Held, That as the drafts were when received credited as cash to the bank at E, which had the right at once to draw against them, the indorsement for collection did not affect the result and the bank had only the rights of a general creditor. First Xat. Bank of Elkhart v. Armstrong, 39 Fed. Bep., 231. A draft sent to a bank specially indorsed for collection was paid by the drawee by check, which the bank collected through the clearing house. A memorandum was placed with the bank's cash, to indicate that the proceeds of the draft was the pro.perty of the sender. The bank was closed the next morning, and the receiver credited such proceeds to the sender of the draft on the books of the bank: Held, That the fund was not so mingled that it could not be traced and identified, and that the sender could recover the same. First Nat. Bank of Montgomery v. Armstrong, 36 Fed. Bep., 59. Checks and drafts sent from one bank to another were indorsed " for collection," and credited ''subject to payment," according to the dealings between the banks. Part of them were paid to the receiver of the latter bank after its failure, and the balance were credited to it by the payers: Held, That the amount paid the receiver should be accounted for as a trust fund, but the balance as a general debt. First Nat. Bank of Wellston v. Armstrong, 42 Fed. Bep., 193. The claimant bank sent to the Fbank a sight draft, drawn on a third party, indorsed, " p a y " F bank, or order, "for collection for" claimant bank. It was the practice of the F bank in its dealings with claimant to credit the latter on the day of receipt for all drafts, checks, etc., sent for collection that were payable at sight or on demand, and the balance thus created was subject to be drawn on; but if the paper was not paid it was charged back to claimant. On receipt of the draft the F notified claimant that it had been credited, "subject to payment;" but the credit was not drawn against nor were advances made on the faith of it. Claimant merely kept a memorandum of its transmission for collection. The F sent the draft to its reserve agent, indorsed, for collection, and the amount of it was counted as a part of the F's reserve fund, though this fact was not known to claimant: Held, That the indorsement being restrictive, the F acquired no title to it, and that upon the insolvency of the F, before notification of the collection of the draft, the claimant was entitled to the proceeds of it in the hands of the collecting agent. Fifth National Bank v. Armstrong, 7 Farmers National Bank et ah, interpleaders, 40 Fed. Bep., 46. 68 REPORT OF THE COMPTROLLER OF THE CURRENCY. COLLECTIONS—Continued. 23. A bank which had received a draft for collection sent it to its correspondent bank at the residence of the drawee, and the draft was paid to such correspondent. There were no mutual accounts between the two banks, but it was the custom of the correspondent to remit the proceeds of collections at stated periods: Held, That until this remittance was made, or the principal bank had given the original owner of the draft credit for the avails, the original owner of the draft, as the owner of the proceeds thereof, was entitled to recover them from the correspondent bank. National Exchange Bank of Dallas v. Beal, 50 Fed. Rep., 355. 24. Though the correspondent Avas the agent of the first bank, and payment to it was to that extent a payment to the principal, yet until the proceeds were actually remitted to such principal and mingled with its general funds, or were so credited, the owner of the draft had the option to decline to consider it his debtor, and to claim the proceeds in the hands of the agent. Ib. 25. Where the principal fails, and a receiver is appointed, he takes the proceeds of the draft, when remitted to him, subject to the same right of reclamation by the owner that the latter had as against the agent. Ib. 26. Where, in such a case, there are mutual accounts between the two banks, the right of the agent to set off the amount of the collection against the principal's indebtedness to it can not be adjudicated in a suit in equity between the owner of the draft and the principal without making such agent a party. 11). 27. Checks deposited in a bank by its customers for collection do not at once become the property of the bank; the bank continues to be the agent of the customer until the collection of the check, which remains, in the meantime, the property of the depositor. Balbach et al. v. Frelinghuysen, Receiver, etc., 15 Fed. Hep., 675. 28. The rule is different where such checks are deposited to make good an overdrawn account of the customer, or when the amount deposited by check is immediately drawn against; in that case the bank may hold the deposit until the overdraft is made good from other sources. Ib. 29. The indorsement by the customer of a check, deposited for collection, is only intended to put the paper in such shape that the bnak may collect it, "and not to thereby pass the title to the bank. Jb. 30. The practice which has grown up among banks to credit deposits of checks at once to the account of the depositor, and to allow him to draw against them before the collection, is a mere gratuitous privilege, which does not grow into a binding legal usage. Ib. 31. A., who for several years had kept an account with the Marine National Bank of New York, on May 5, 1884, deposited a sight draft, dated that day, and drawn by him on a corporation of Boston, Mass., which was indebted to him in the amount of the draft. The bank was insolvent at the time, but the draft was forwarded to its collection agent at Boston, and paid May 7, after the bank had failed and closed it doors. On several previous occasions A. had deposited similar drafts, and been credited therewith as cash, and they were treated by him as cash deposits. On the occasion in question the bank credited plaintiff with the draft as a cash item: Held, That the draft was not the property of A. when paid by the drawee, and that he was not entitled to recover the amount thereof from the receiver. St. Louis $ S. F. Ry. Co. v. Johnston, Receiver, etc., 27 Fed. Rep., 243. 32. When a sight bill is credited by a bank to a customer as a cash item, with the latter's assent, the transaction is equivalent to a discount of tfye bill by the bank. Ib. 33. Where a check of a depositor is accepted by a correspondent bank iu payment of a draft for collection, which charges the same to the drawee and credits the drawer without separating the amount from its general funds, it holds the money as agent for the drawer, who, after insolvency, becomes a mere general creditor, notwithstanding the State constitution provides that " depositors who have not stipulated for interest shall for such deposits be entitled in case of insolvency to preference of payment over all other creditors/' Anheuser-Busch Brewing Association v. Clayton, 56 Fed. Rep., 759. 34. A bank in Ohio contracted with a bank in Pennsylvania to collect for it at par, at all points west of Pennsylvania, and remit the 1st, 11th, and 21st of each month. In executing this agreement the Pennsylvania bank stamped upon the paper forwarded for collection, with a stamp prepared for it by the Ohio bank, an indorsement "Pay to " t h e Ohio bank, "or REPORT OF THE COMPTROLLER OF THE CURRENCY. 69 COLLECTIONS—Continued. 35. 36. 37. 38. 39. 40. 41. 42. 43. order, for collection for," the Pennsylvania bank. The Ohio bank failed, having in its hands or in the hands of other banks to which it had been sent for collection, proceeds of paper sent it by the Pennsylvania bank for collection. A receiver being appointed, the Pennsylvania bank brought this action to recover such proceeds: Held, First, that the relation between the banks as to uncollected paper was that of principal and agent, and that the mere fact that the subagent of the Ohio bank had collected the money due on such paper was not a commingling of those collections with the general funds of the Ohio bank, and did not operate to relieve them from the trust obligation created by the agency, or create any difficulty in specially tracing them. Commercial Bank of Pennsylvania v. Armstrong, 148 D. S., 50. Second, that if the Ohio bank was indebted to its subagent, and the collections when made were entered in their books as a credit to such indebtedness, they were thereby reduced to possession and passed into the general funds of the Ohio bank. Ib. Third, that by the terms of the agreement the relation o.f debtor and creditor was created when the collections were fully made, the funds "being on general deposit with the Ohio bank, with the right in that bank to their use until the time of remittance should arrive. Ib. A bank received two drafts indorsed to it for collection, on account of the drawers, against two of its depositors. After acceptance by the latter the bank charged to each depositor's account the amount of the draft accepted by him. Before remitting to the drawers the bank assigned, having on hand cash sufficient to pay such drafts: Held, That the drawers were not entitled to a preference as to the funds on hand at the time the bank failed, where the assignee holds nothing which he or such drawers can identify with the drafts, or trace as a payment of them. Freiberg v. Stoddart, 28 A., 1111. A national bank collected a note for plaintiff by accepting a draft for the amount on another party, which it forwarded to its correspondent for collection, and at the same time sent plaintiff a draft on. the same correspondent as a remittance of the proceeds of his note. The correspondent received the money on the draft sent it for collection, but before plaintiff's draft was paid by the correspondent the bank failed: Held, That the bank was only agent for plaintiff, and that the money derived from his note was a trust fund, which did not become a part of the bank's assets. Foster v. Bincker, 35 P., 470. B forwarded to bank a draft for collection. On July 22, 1893, bank made collection, and the same day forwarded its draft on New York. On July 26, bank failed, and a receiver was appointed. Draft was presented after the failure, and payment refused. B brought suit to secure a preference in payment: Held, That when a draft is forwarded to a bank for collection, in the absence of instructions to the contrary, it is with the understanding that upon collection the title to the proceeds shall vest in the collecting bank, and that said bank shall remit to its correspondent the equivalent of such proceeds, by the system of exchanges established by the universal custom among banks, and when this has been done no preference can arise. Bowman et al.Y. Clark et al., Washington supreme court, October, 1894. Where one deposits a draft with a national bank, and the bank sends it to an agent for collection, who collects it, and the bank fails before receiving the avails, having been insolvent at the time of the deposit, the depositor inav rescind the transaction for fraud and recover the avails from the agent. Craigie v. Smith, 14 Abb. N. C, 409; 3 N. B. C, 679. Plaintiff sent a draft to a bank for collection. The bank collected it and then passed into the hands of a receiver without remitting. The bank had previously made similar collections for plaintiff, the proceeds of which were always remitted to him promptly, and never credited to him as a dsposit: Held, That plaintiff was entitled to be paid the entire proceeds of the draft out of the bank assets in the receiver's hands, since the bank was his trustee, and not his debtor. Hunt v. Townsend, 26 S. W., 310.Under an agreement between plaintiff bank and the H. bank that the latter should collect notes and checks forwarded it by plaintiff for a commission, and remit daily, the relation of principal and agent as to any paper ceased on collection, and the relation of creditor and debtor as to cash immediately arose. First National Bank of JRichmond v. Davis, 19 S. E., 280. On failure of the H. bank, it being shown that its cashier had no knowledge of its insolvency till the failure, it is not chargeable as for a conversion of funds of plaintiff which it has mingled with its own funds, since, in the 70 REPORT OF THE COMPTROLLER OF THE CURRENCY. COLLECTIONS—Continued. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. absence of such knowledge on the cashier's part the contract, with its necessary implication as to the disposition to he made of plaintiff's money on collection, remained in force till the failure. Ib. Where plaintiff and defendant banks for several years had acted as agents for each other in the collection of checks, notes, and drafts, 7and where plaintiff sent defendant a note "for collection and credit' which on maturity was paid by a check and credit was immediately given on the books, but defendant failed and the check passed into the hands of a Teceiver: Held, that in view of the course of dealing the two banks stood in the relation of debtor and creditor with respect to the amount of the check, and it became part of the assets of the bank. Franklin County National Bank v. Beal, 49 Fed. Rep., 606. Whether the title to a check deposited with a bank passes to the bank before collection, so as to immediately create the relation of debtor and creditor between it and the depositor, is a question of fact, depending upon the circumstances and course of dealing in each particular case. City of Somerville v. Beal, 49 Fed. Rep., 190. Where a bank in accordance with its custom credited checks deposited by a customer at the close of each day's business, retaining the right to subsequently charge off the same if returned unpaid from the clearing house, and the bank became insolvent on a succeeding day, title in the checks passed to the bank so as to create the relation of debtor and creditor. Ib. Where a national bank collected all papers sent to it by complainant under an arrangement which constituted the bank the agent of complainant, the latter can recover, on the ground of a trust, from a receiver of the bank such portion only of the proceeds of its paper sent to the bank as it shows has passed into the receiver's hands, either in its original or some substituted form. Commercial National Bank v. Armstrong, 39 Fed. Bep., 684. Where checks and drafts sent from one bank to another indorsed " for collection" and credited "subject to payment" accordingto the dealings between the banks, and part of them were paid to the receiver of the latter bank after its failure and the balances were credited to it by the payors, the amount paid the receiver should be accounted for as a trust fund, but the balance as a general debt. First National Bank v. Armstrong, 42 Fed. Rep., 193. Negotiable paper with restrictive indorsement credited by agent on date of receipt "subject to payment," although account is subject to be drawn upon, title is not transferred, and upon the ^solvency of the agent before receiving notice of the collection of the item, the owner is entitled to the proceeds in the hands of the collecting agent. Fifth National Bank v. Armstrong, 40 Fed. Rep., 46. The drawers of a draft deposited with a bank for collection, and by it forwarded to a correspondent bank, are entitled to the amount as against the receiver of the forwarding bank, which was insolvent, and known to be so by its officers when it received the draft, and suspended payment before the proceeds were withdrawn from the collecting bank. Importers and Traders7 National Bank v. Peters et al., 123 N. Y., 272. ' When a bank which has received a draft for collection sends it to another bank for that purpose, and on being advised that the latter bank has collected the draft credits the depositor and then becomes insolvent without having received the money from the collecting bank, the depositor remains the owner of the draft, and is entitled to its proceeds from the collecting bank against the receiver and the creditors of the insolvent bank. Armstrong \. National Bank of Boyertoun, 11. S. W. 411; Manufacturers' National Bank v. Continental Bank et ah, 20 N. W. 193. A bank which collects a draft sent to it by another bank for that purpose with directions to remit the proceeds to a third bank for the owner's account does not thereby become a trustee, so that the fund can be followed into the hands of a receiver, although it had become mixed with the other cash of the bank before his appointment; especially when it appears that the business was carried on, and money paid out, for several days after the collection was probably made. Merchants and Farmers' Bank v. Austin et al., 48 Fed. Rep., 25. Where bank sends paper to another bank for collection and credit on general account, the custom being to enter credit only when paper is collected, „ the relation being that of principal and agent until collection and receipt of money by the second bank, and if latter sends to another bank, which REPORT OF THE COMPTROLLER OF THE CURRENCY. 71 COLLECTIONS—Continued. collects but does not remit until latter bank has failed, the former can recover the proceeds from the receiver thereof. Beat v. National Exchange Bank of Dallas, 55 Fed. Rep., 894. 54. Whether the title to a check deposited with a bank passes to the bank before collection, so as to immediately create the relation of debtor and creditor between it and the depositor, is a question of fact, depending upon the circumstances and course of dealing in each particular case. City of Somerville v. Beal, Receiver, 49 Fed. Hep., 790. CONSTITUTIONALITY : 1. Congress has the constitutional power to incorporate banks. McCulloch v. Maryland, 4 Wheat., 316; Osborne v. Bank of the United States, 9 Wheat, 738. 2. Congress has power to clothe national-banking associations, as to their contracts and dealiugs with the world, with any special immunities and privileges exempting them, in their trade and intercourse with others, from the laws and remedies applicable in like cases to other citizens. The Chesapeake Bank v. The First Xational Bank of Baltimore, 40 Md., 269. 3. Thus, the provision of the banking law that no attachment, injunction, or execution shall issue against a national-banking association before final judgment in any suit, action, or proceeding in a State court is constitutional. Ib. 4. Congress having, in the exercise of undisputed constitutional powers, undertaken to provide a currency for thn whole country, may secure the benefit of it to the people by appropriate legislation. Veazie Bank v. Fenno, 8 Wall., 533. 5. Congress has the power to divest the United States courts of their jurisdiction of suits by or against national-banking associations. National Bank of Jefferson v. Fare et aL, 25 Fed. Piep., 209. 6. National-banking associations, being instruments designed to aid the Government in the administration of a branch of the public service, can not be controlled by the States, except in so far as Congress may see proper to permit. Fanners and Mechanics' Bank v. Bearing, 91 V*. S., 29. 7. A State law prohibiting the establishment of banking companies in the State without the authority of the legislature was not intended to apply to banking corporations created by authority of Congress, since such corporations may be legally established in the State without the consent of the legislature. Stetson v. City of Bangor, 56 Me., 274. 8. National-banking corporations, organized under the acts of Congress providing for their creation, are agencies or instruments of the General Government, designed to aid in the administration of an important branch of the public service, and are an appropriate constitutional means to that end. Pollard v. The State ex rel. Znber, 65 Ala., 628. 9. The national-banking acx is an enabling act for associations organized under it, and one can not rightfully exercise any powers except those expressly granted, or such incidental powers as are necessary to carry on the business for which it was established. Logan County National Bank v. Townsend, 139 U. S., 67. CONSTRUCTION OF LAW: 1. The Federal courts, when called upon to construe the general commercia law of Indiana in respect to a question which is a new one in the Federal courts, should give weight to the Indiana decisions, although they are not absolutely bound thereby. The Farmers' National Bank of Valparaiso, Inch, v. Sutton Mfg. Co., 52 Fed. Rep., 191. 2. The intention or the legislature, clearly expressed in a constitutional enactment, should not be defeated by too rigid adherence to the letter of the statute, or by technical rules of construction. Any construction should be disregarded which leads to absurd consequences. Oates v. First National Bank of Montgomery, 100 U. S., 239; 2 N. B. C, 35. 3. The Federal courts are not bound by decisions of State courts upon questions of general commercial law. Ib. 4. In a statute which contains invalid or unconstitutional provisions, that which is unaffected by those provisions, or which can stand without them, must remain. If the valid and invalid are capable of separation, only the latter are to be disregarded. Supervisors of Albany v. Stanley, 12 Fed. Rep., 82. 5. Where the State and Federal courts have concurrent jurisdiction, a State statute of limitation may be pleaded as effectively in a Federal court as it could be in a State court; and in such cases the Federal courts will 72 REPORT OF THE COMPTROLLER OF THE CURRENCY. CONSTRUCTION OF LAW—Continued. 6. 7. 8. 9. 10. 11. follow the decisions of the local State tribunals and will administer the same justice which the State courts would administer between the same parties. Price, Receiver of Venango National Bank, v. Yates, 19 Alb. L. J., 295; 2 N. B. C, 204. Repeals by implication are not favored by the courts, and in the absence of express words of repeal it is the duty of the court to give effect to a prior statute, if it can be done, unless the repugnancy between the two is so absolute and palpable as to be recognized at once. United States v. Cooke Co. Nat. Bank, 25 Int. Rev. Record, 266; 2 N. B. C, 128. It is the peculiar province of the supreme court of the State to determine the meaning of the statutes of such State, and with such determination courts of the United States will hesitate to place upon a State statute any construction which will bring such statute in conflict with a statute of the United States, and therefore render it void. Davenport Nat. Bank v. Mittelbuscher, collector, et al., 15 Fed. Rep., 225. The punctuation of a statute is not made to be relied on, and must be disregarded if it requires a construction which is repugnant to a sense of justice. United States v. Vorhees, 9 Fed. Rep., 143. Where Congress has enacted a law covering a particular case, such law must prevail in the federal courts, though it differs from the State law. Stephens v. Bern ays, 42 Fed. Rep., 48S. Among the assets of an insolvent national bank were three mortgages, which were sought to be impeached by the assignees of the mortgagor as having been given in violation of the insolvency law of the State. Plaintiff, receiver of the bank, claimed that the State law was inoperative upon the assets of a national bank, and was ineffectual to divest him of the title acquired by the mortgages: Held, That the mortgages were governed by the State law, and the bank took them with all the limitations imposed by the laws of the State upon them. Witters, Receiver, etc., v. Soivlesct al, 32 Fed. Rep., 758. As the Supreme Court of the United States has decided that it has authority to reexamine the judgment of a State court as to the power of national banks under the act of Congress, a State court should follow its decisions on the question. First National Bank of Aberdeen v. Andrews et al.; Young v. Same. CONVERSION : 1. Where a State bank has been converted into a national-banking association it may enforce all contracts made with it while a State corporation. City National Bank v. Phelps, 97 N. I . , 44. 2. And it is liable, after the conversion, for all the .obligations of the old institution. Coffees. The National Bank of Missouri, 46 Mo., 140; Kelsey v. The National Bank of Crawford, 69 Venn. St., 426. 3. A national-banking association, organized as the successor of a State bank, may take and hold the assets of the bank whose place it takes, though there wTas not in form a conversion from a State to a national corporation but the organization of a new corporation. Bank v. Mclntyre, 40 Ohio St., 528. 4. And such association will be liable to the depositors of the former bank. Fans v. Exchange Bank, 79 Mo., 182. 5. A State law authorizing national-banking associations which have been converted from State banks to use the name of the original corporation for the purpose of prosecuting and defending suits is not in conflict with the national-banking law, and therefore proceedings based upon a judgment obtained before the conversion may be instituted by such association in its former corporate name. Thomas v. Farmers' Bank of Maryland, 46 Md., 43. 6. The conversion of a State bank into a national bank, with a change of name, under the national-bank act does not affect its identity or its right to sue upon liabilities incurred to it by its former name. Michigan Insurance Bank v. Fldred, 143 U. S., 293. 7. No authority other than that conferred by act of Congress is necessary to enable any State bank to become a national-banking association. Casey v. Galli, 94 U. S., 673. 8. When a State bank is converted into a national-banking association all of the directors at the time will continue to be directors of the association until others are appointed or elected, though some of them may not have joined in the execution of the articles of association and organization certificate. Lockwood v. The American National Bank, 9 R. /., 308. REPORT OF THE COMPTROLLER OF THE CURRENCY. 73 CONVERSION—Continued. 9. But even were the oath required, a majority of all who were directors at the time of the conversion, and not merely a majority of those who take the oath, are necessary to constitute a quorum. Ib. 10. A national bank, changed from a State bank, may maintain an action on a continuing guaranty for loans held by it before the change; for loans both before and after the change. City National Bank of PoughkeepsieY. Phelps, 97 N. Y., 44; 49 Am. Rep., 513; 3 N. B. C, 627. 11. A State bank paid its president money to reimburse him for money which he falsely represented he had paid to its creditor. The State bank was afterwards changed to a national bank, and the creditor recovered judgment against it for his debt: Held, That) it could maintain an action against the president for money had and received, although the State statute provided that the State bank should be continued a body corporate for three years for the purpose of prosecuting and defending suits, closing its concerns, and conveying its property. Atlantic National Bank T. Harris, 118 Mass., 147; 2 N B. C, 454. 12. The provisions in the statute in New York of April 11, 1859 (Laws of 1859, chap. 236), as to the redemption of circulating notes issued by a State bank, and the release of the bank if the notes should not be presented within six years, do not apply to a State bank converted into a national bank under the act of March 9, 1865, and not "closing the business of banking." Metropolitan National Bank v. Claggett, 141 U. S., 520. 13. The conversion of a State bank in New York into a national bank, under the act of the legislature of that State of March 9, 1865 (N. Y. Lawe of 1865, chap. 97), did not destroy its identity or its corporate existence, nor discharge it as a national bank from its liability to holders of its outstanding circulation, issued in accordance with State laws. 1b. 14. No authority from a State is necessary to enable a State bank to become a national bank. Casey v. Galli, 94 U. S., 527; 1 N. B. C, 137. CRIMINAL LAW: See False eniries; Indictment. 1. The willful misapplication of the moneys and funds of a national-banking association, made an offense by sec. 5209, Rev. St., must be for the use or benefit of the party charged, or of some person or company other than the association. United States v. Britton, 107 U. S., 655. 2. It is not necessary that the officer should personally misapply the funds of the association. He will be guilty as a principal offender though he merely procures or causes the misapplication. United States v. Fish, 24 Fed. liep\, 585. 3. A loan in bad faith, with intent to defraud the association, is a willful misapplication within the meaning of the statute. Ib. 4. It is no defense to a charge of embezzlement, abstraction, or misapplication of the funds of a national-banking association that the funds were used with the knowledge and consent of the president and some of the directors. The intent to defraud is to be conclusively presumed from the commission of the offense. United States v. Taintor, 11 Blatch., 374. 5. If, with intent to defraud the association, an officer allows a firm in which he is a member to overdraw its account, be will be guilty of misapplying the funds of the association. In the matter'of Van Camp en, 2 Ben.. 419. 6. Allowing the withdrawal of the deposit of one indebted to the association can not be charged as a misapplication of the money of the association. United States v. Britton, 108 U. S., 193. 7. It is not a willful misapplication of the moneys of the association within the meaning of sec. 5209, Rev. St., for a president who is insolvent to procure the discounting by the association of his note not well secured. Ib. 8. To constitute the offense of a willful misapplication of the moneys, funds, or credits of the association within sec. 5209, Rev. St., it is not necessary that the person charged with the offense should have been previously in the actual possession of such moneys, funds, and credits under or by virtue of any trust, duty, or employment committed to him. Nor is it necessary to the commission of this offense that the officer making the willful misapplication should derive any personal benefit therefrom. When the funds or assets of the bank are unlawfully taken from its possession, and afterward willfully misapplied by converting them to the use of any person other than the bank, with intent to injure and defraud, the offense as described in the statute is committed. United States v. Harper, 33 Fed. Bep., 471. 9. This criminal act maybe done directly and personally, or it may be done indirectly through the agency of another. If the officer charged with it has 74 REPORT OF THE COMPTROLLER OF THE CURRENCY. CRIMINAL LAW—Continued. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. such control, direction, and power of management by virtue of his relation to the bank as to direct an application of its funds in such manner and under such circumstances as to constitute the offense of willful misapplication, and actually makes such direction or causes such misapplication to be made, he is equally as guilty as if it was done by his own hands. lb. The officers of a national-banking association may be prosecuted under State statutes for fraudulent conversion of the property of individuals deposited with, and in the custody of, the association. Commonwealth v. Tehney, 97 Mass., 50; State v. Fuller, 34 Conn., 280. As the national-banking law makes the embezzlement, abstraction, or willful misapplication of the funds of a national-banking association merely a misdemeanor, a person who procures such an offense to be committed can not be punished under a State statute which provides that a person who procures a felony to be committed may be indicted and convicted of a substantive felony. Commonwealth v. Felton, 101 Mass., 204. It is not a conspiracy against United States, under sec. 5440, Rev. St., nor a willful misapplication of money of bank, under sec. 5209, for president and director of bank to cause shares of its stock to be purchased with its money and held on trust. United States v. Britton, 108 U. S., 192. It is not a willful misapplication of bank money by the president, under sec. 5209, for him to procure the discount by bank for his own benefit of an unsecured note on which both maker and indorser are insolvent to his knowledge, lb., 193. Nor is president liable for a criminal violation of that section solely by reason of permitting a depositor who is largely indebted to bank to withdraw his deposits without first paying such indebtedness. lb. The procuring by two or more directors of the declaration of a dividend at a time when there are no net profits to pay it, is not a willful misappropriation of money of bank within sec. 5204, Rev. St. lb., 199. Where the president, charged as a trustee with the administration of the funds of the bank in his hands, converts then: to his own use without authority for so doing, he embezzles and abstracts them within the meaning of sec. 5209, Rev. ISt. In the matter of Van Campen, 2 Ben., 419. To constitute the offense of willful abstraction by an officer, defined by the statute, it is necessary that the money or funds of the association should be withdrawn by the officer or by his direction; that such taking or withdrawing should be without the knowledge or consent of the bank, or of its board of directors; that the money or funds so taken or withdrawn should be converted to the officer's own use, or for the benefit and advantage of some person other than the association, and that this should be done with intent to injure and defraud the associatioc lb., United States v. Harper, 33 Fed. Bep'., 471. An officer of a national-banking association can not be punished under State laws for embezzling the funds of the association. Commonwealth ex rel. Tor ret/ v. Ketncr, 92 Perm. St., 372; Commonwealth v. Felton, 101 Mass., 204. But where the offense committed by an officer is properly a larceny of the funds, and not an embezzlement, he may be indicted under a State law. Commonwealth v. Barry, 116 Mass., 1. The word "embezzle," as found in the United States Rev. St., is used to describe a crime which a person has an opportunity to commit by reason of some office or employment, and which may include some breach of confidence or trust. United States v. Cotiant, 9 Cent. L. J., 129; 2 JSr. B. C, 148. Section 1025 of the Rev. St. provides: "No indictment * * * shall be deemed insufficient * * * in a matter of form only:" Held, That anything that forms a part of the description of the crime is not a "matter of form.77 lb. Embezzlement, abstraction, and willful misapplication of the moneys, funds, etc., of a national bank, as described in Rev. St., sec. 5209, constitute three separate crimes or offenses, which, under Rev. St., sec. 1024, may be joined in one indictment, but must be stated in separate counts. United States v. Cadwallader, 59 Feel. Bep., 677. The exercise of official discretion in good faith, without fraud, for the advantage or the supposed advantage of the association, is not punishable; but if official action be taken in bad faith, for personal advantage and with fraudulent intent, it is punishable. United Slates v. Fish, 24 Fed. Bep,, 585. It is competent for a State by penal enactments to protect Its citizens in their dealings with national-banking associations located within the State. State v. Fuller, 34 Conn., 280. REPORT OF THE COMPTROLLER OF THE CURRENCY. 75 CRIMINAL LAW—Continued. 25. And an officer may be punished under State laws for making false entries in the books of "the association with intent to defraud it. Liiberg v. Commonivealth, 94 Penn. St., 85. 26. Purchase of stock in violation of sec. 5201, Rev. St., made with intent to defraud, and by officers named in sec. 5209, is not punishable under latter section. United States v. Britton, 107 U. S., 655. DEPOSITS : 1. The relation of banker and depositor is that of debtor and creditor. Deposits on general account belong to the bank and are part of its general fund. The bank becomes a debtor to the depositor to the amount thereof, and the debt can only be discharged by payment to the depositor, or pursuant to his order. The JFAna National Bank v. The Fourth National Bank, 46 N. Y., 82. 2. The contract has none of the elements of a trust. For a breach on the part of the bank of the obligation resulting from the relations between the parties the depositor alone can sue. / / ; . 3. General deposits in a commercial bank on account of the depositor, without being complicated by any other transaction than that of tbe depositing arid withdrawing of the moneys, transfers the ownership of the money to the bank; and the relationship with reference thereto, as between the bank and the depositor, is simply that of debtor and creditor. Collins v. State, 15 So., 214. 4. A deposit made in the usual course of business Tests m the bank, and can not be recovered by the depositor on the ground of fraud, though the bank was insolvent and failed on tbe next day, and though the deposit was made in reliance on representations of the president that the bank was all right, unless the officers of the bank knew of its insolvency at the time of the deposit. New York Breweries Co. v. Biggins, 29 N. Y. S., 416. 5. A trustee who deposits in a bank and causes to be credited to his private account money of the trust fund without giving any notice that it is not his private property or making any special agreement in regard to it, thereby converts it to his own use; so that the bank, in the absence of any notice that it is not his private property, may apply it as such. School District v. First National Bank, 102 Mass., 174. 6. Where an agent deposits in a. bank, to his own account, the proceeds of property sold by him for his principal under instructions thus to keep it, a trust is impressed upon the deposit in favor of the principal, and his right thereto is not affected by the fact that the agent at the same time deposits other moneys belonging to'himself; nor is it affected by the fact that the agent, instead of depositing the identical moneys received by him on account of his principal, substitutes other moneys therefor. Van Allen v. The American National Bank, 52 N. Y., 1. 7. Where an agent or trustee has deposited money belonging to his principal or beneiiciary in a bank to which he is himself indebted, and the hank, without his authority and in ignorance of the true ownership of the fund, has applied it on the debt, the owner is not debarred from recovering it from the bank if it can be identified. Bnrlnett, adm'r, v. The First National Bank,*38 Mich., 630. 8. A bank is not chargeable with interest on sums deposited to the credit of customers to be drawn against by check, until payment be demanded, unless upon special contract. Parkersburg National Bank v. Andy A Is., 5 Ya., 50. 9. Unlike checks, cash deposited by customers with the bank ceases to be the property of the depositor, and becomes the property of the bank, creating at once the relationship of debtor and creditor. Balbach et al.Y. Frelinghuysen, Receiver, etc., 15 Fed. Rep., 675. DEPUTY COMPTROLLER: 1. A certificate signed by the Deputy Comptroller of the Currency as " Acting Comptroller of the Currency," is a sufficient certificate by the Comptroller of the Currency within the requirements of Rev. St., par. 5154. Keyset* v. Hitz, 133 U. S., 138. 2? The Deputy Comptroller of the Currency being authorized by law to act for the Comptroller in certain contingencies, the courts will presume, in the absence of any showing to the contrary, that the Deputy, in acting for the Comptroller in any particular instance, has acted lawfully. Young v. Wenipe et al., 46 Fed. Rep., 354. DIRECTORS : See Officers. 76 REPORT OF THE COMPTROLLER OF THE CURRENCY. DISTRICT ATTORNEY: 1. For services performed by the district attorney in bringing a suit against a national bank, and obtaining a forfeiture of its charter, he is not entitled to more than $10, the fees prescribed by section 824, there being no other law in the United States giving a compensation to a district attorney for such services. Bashaw v. United States, 47 Fed. Rep., 40. 2. The 56th (now 153d) section of the act providing that suits under it, in which. officers of the United States are parties, shall be conducted by the district attorney of the district, is directory only. Kennedy v. Gibson, 8 Wall., 498* 3. District attorney can not recover compensation for services in conducting suit arising out of the provisions of the national-banking law in which the United States or any of its agents or officers are parties. Gibson v. Peters, Receiver, 150 U. S., 342. 4. The expenses of a receivership can not be held to include compensation of district attorney for conducting a suit in which the receiver is party, and he can not receive any compensation for services so rendered or oifered to be rendered. Ib. ESTOPPEL: A. Solvent banks— 1. Where one sued by a national bank is accustomed to deal with it as such, and does so deal with it in respect to the matter in suit, he is estopped from denying its incorporation. National Bank of Fairhaven v. The Phcenix Warehousing Company, 6 Hun., 71. 2. A director is not, by reason of his position, estopped from setting up the defense of usury "in an action brought against him by the association. Bank of Cadiz v. Slemons, 34 Ohio St., 142. 3. Where a national-banking association has entered into a contract which it is not authorized to make, a party who has enjoyed the benefit of such contract can not question its validity. Casey v. La Societe de Credit Mobilier, 2 Woods, 77; German National Bank v. Meadowcroft, 95 III., 124. 4. Where officer of a bank guaranteed payment in name of bank and sold the note, the bank by retention and enjoyment of the proceeds is estopped to deny officer's act. People's Bank v. National Bank, 101 U. 8., 181. 5. The organization of a national bank under the national-banking act may bo put in issue by a party who has not estopped himself. But a party who has accepted as payee a promissory note payable at a banking institution which the parties'to the note style a national bank, and has sold and transferred the note to such banking institution, can not be alloAved to raise that issue by merely averring want of knowledge or information sufficient to form &, belief as to whether the institution is a body corporate, etc. Huffakcr v. National Bank of Monticello, 12 Bush, 287; 1 N. B. C, 504. 6. If, upon inquiry by the surety, the cashier, knowing that he is a surety, inform him that the note is paid, intending that he should rely upon his statement, and the surety does so, and in consequence changes his position by giving up securities, or indorsing other notes for the principal, or the like, the bank will be estopped to deny that such note is paid. Cochecho National Bank v. Haskell et al., 51 N. H., 116. 7. A stockholder of a private corporation, when sued by its creditors, is estopped from denying the legal existence of the corporation, or insisting that its charter has been forfeited by noncompliance with statutory provisions for which a forfeiture might be judicially declared. National Commercial Bank v. McDonnell, 92 Ala., 387. B. Insolvent banks— 8. Where an officer of a bank loaned money for his individual.benefit upon pretended collateral security of the bank: Held, That his bank was estopped to deny the loan and is liable therefor, as the lender dealt with him solely in his official capacity. Stewart v. Armstrong, 56 Fed. Rep., 167. 9. Vice-president of bank, also manager of a commercial house, substituted as collateral notes to order of his house, and indorsed by them without consideration: Held, That, as against holders of collateral, the house was estopped to deny that these notes were properly pledged as security for a loan to his bank. Ib. 10. The estoppel upon his bank exists only in favor of lender. Hence, his house has no remedy against it for any liability enforced by the lender on account of its indorsed notes so pledged. Ib. 1.1. A shareholder who has held himself out to the world as such is estopped to deny that the association was legally incorporated. Casey v. Galli, 94 U. S., 673; Wheelock v. Kost, 77 III, 296. REPORT OF THE COMPTROLLER OF THE CURRENCY. 77 ESTOPPEL—Continued. 12. A person who received dividends on shares of stock standing in his name on the books of a national bank is estopped from denying his liability on the ground that he returned the same by check to an officer of the bank. He is presumed to be the owner of the stock when his name appears upon the books of the bank and the burden of proof is upon him to show that he is not in fact the owner. Finn v. Brown, 142 U. S., 56. 13. A shareholder against whom suit is brought to recover the assessment made upon him by the Comptroller will not be permitted to deny the existence of the association, or that it was legally incorporated. Casey v. Galli, 94 U. S., 673. 14. In such suit stockholder is estopped to deny existence or validity of corporation. Ib. 15. The legality of the appointment of the receiver can nob be questioned by the debtors of the bank when sued by him. The bank may move to have the appointment set aside, but the debtors can not. Cadle v. Baker, 20 Wall., 650; Platt v. Beebe, 57 N. Y., 339. EVIDENCE: 1. The certificate of the Comptroller of the Currency that an association has complied with all the provisions required to be complied with before commencing the business of banking is admissible in evidence upon a plea of nul tiel corporation; and such certificate, together with proof that the association has been acting as a national-banking association for a long time, is amply sufficient evidence to establish, at least prima facie, the existence of the corporation. Mixv. The National Bank of Bloomington, 91 III., 20; Merchants7 National Bank of Bang or v. Glendon, 120 Mass., 97. 2. The certificate of the Comptroller of the Currency duly made is sufficient evidence of the appointment of the receiver in an action brought by him. Platt v. Beebe, 57 N. Y., 339; 1 N. B. C, 725. 3. And in a suit against the association or its shareholders such certificate of the Comptroller is conclusive as to the completeness of the organization. Casey v. Galli, 94 U. S., 673. 4. Under the national-banking act, a copy of the certificate of organization of a United States national bank, which is certified by the Comptroller of'the Currency and authenticated by his seal of office, is competent evidence in a Sta^e court. Tapley v. Martin, 116 Mass., 275; 1 N. B. C, 611. 5. In an action by " The West River National Bank of Jamaica, Vermont": Held, That the certificate of the Comptroller of the Currency of the existence of a corporation under the name of "The West River National Bank of Jamaica," described as located in the town of Jamaica, Vermont, was admissible under the general issue for the purpose of proving the plaintiff's corporate existence. Thatcher v. West River National Bank, 19 Mich., 196; 1 N. B. C, 622. 6. It is no objection to the admission in evidence of the certificate of the organization of a national bank, that the notary before whom it was acknowledged was one of the shareholders of the bank. The Comptroller's certificate of compliance with the act of Congress removes any objection which might otherwise have been made to the evidence on which he acted. Ib. 7. A certificate signed by the Deputy Comptroller of the Currency as "Acting Comptroller of the Currency" is a sufficient certificate by the Comptroller of the Currency within the requirements of Rev. St., sec. 5154. Aspinivall v. Butler, 133 tf. S., 595. 8. A letter from the Comptroller directing the receiver to institute suit, if not objected to at the time, is sufficient evidence that the Comptroller has decided that the enforcement of the individual liability of the shareholders is necessary. Bowden v. Johnson, 107 U. $., 251. 9. In an action by a national bank, plaintiff may prove that it is a corporation de facto by parol evidence; that it is carrying on a general banking business as a national bank, authorized by the general laws of the United States, under the name by which it has sued, the court taking judicial notice of such laws. Yakima National Bank v. Knipe, 33 P. 834; 6 Wash., 348. EXECUTION : A judgment against a national bank in the hands of a receiver only establishes the validity of the claim; the plaintiff can have no execution on such judgment, but must wait pro rata distribution. Bank of Bethel v. Pahquioque Bank, 14 Wall., 383. 78 REPORT OF THE COMPTROLLER OF THE CURRENCY. EXPIRATION OF CORPORATE EXISTENCE: Under the act of Congress, July 12, 1882, extending for the purpose of liquidation the franchises of such national banking associations as do not extend the periods of their charters, and making applicaole to them the statute relating to liquidation of banking associations, such an association may continue to elect officers and directors for the purpose of effecting liquidation. But after the expiration of the term of its charter the stock of such an association is not transferable so as to give the transferee the right to share in the election of directors, and such transferee, not being a stockholder, is ineligible as a director under Rev. St., sec. 5145. Richards v. Atlleboro National Bank, 148 Mass., 187 ; 3 N. B. C, 495. EXTENSION OF CORPORATE EXISTENCE : The identity of a national bank is not affected by the extension of its term of existence. Trustees of First Presbyterian Church v. National State Bank, 29 A., 820. FALSE ENTRIES: 1. The only remedy for the making of a false return to the auditor, by the cashier of a bank, of the resources and liabilities of the bank for the purposes of taxation is afforded by revised statutes of Ohio, section 2679, which provides that the auditor may examine the books of the bank, and any officer or agent of it under oath, and make out the statement; and any officer of the bank may be fined not exceeding $100 for failing to make the statement, or for willfully making a false one. Miller v. First National Bank, 21 N. E. 860. 2. Any entry on the books of the bank which is intentionally made to represent what is not true or what does not exist, with intent either to deceive its officers or defraud the association, is a false entry within the meaning of the statute. United States v. Harper, 33 Fed. Hep., 471. 3. It may be made personally or by direction, lb. 4. The erasure of figures already written in the books of a national bank and the substitution of other figures which falsify the state of the account constitute a " false entry" within the meaning of sec. 5209, Rev. St., by which it is declared to be a misdemeanor to make any " false entry in any book, report, or statement of the association, with intent to injure or defraud," etc. United States v. Crecelius, 34 Fed. Rep., 30% 5. Where false entries are made by a clerk at the direction of the president, the latter is a principal. In the matter of Van Campen, 2 Ben.f 419; United States v. Fish, 24 Fed. Rep., 5S5. 6. A report of condition of a national bank, whether called for by the Comptroller of the Currency or not, which is a report in the usual form made by an officer of the bank in his official capacity, if it contains a false entry made with intent to deceive, is within Rev." St., sec. 5209, which declares such false entries to be a misdemeanor. United States v. Hughitt, 45 Fed. Rep., 47. 7. Where false entries were made by a bookkeeper in a statement requested by a national-bank examiner purporting to give the balance due to depositors, which statement it was the duty of the examiner to make and not the bookkeeper, an indictment for making "false entries in a statement of the association" will not be.sustained. United States v. Eqe, 49 Fed. Rep., 852. 8. In an indictment of an officer of a national bank under sec. 5209, Rev. St., for making false entries in a report to the Comptroller of the Currency, it is no defense that such entries were made by a clerk and verified by the officer without actual knowledge of their truth, since it was his duty to inform himself. United States v. Allen, 47 Fed. Rep., 696. 9. A " false entry" in a report by a national-bank officer or a director to Comptroller of the Currency within the meaning of sec. 5209 is not merely an incorrect entry made through inadvertent negligence or mistake, but is an entry known to the maker to be untrue and incorrect and by him intentionally entered while so knowing its false and untrue character. United States v. Graves, 53 Fed. Rep., 634. 10. In determining whether a certain false entry, made by a national-bank officer in a report to the Comptroller, was made with intent to deceive or defraud, etc., within the meaning of tbe statute, the jury are authorized to infer the intent if the natural and legitimate result of such false entry would be to deceive any other officer or officers of the bank or any agent appointed to examine into its affairs. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 79 FALSE ENTRIES—Continued. 11. In determining whether defendant made a ''false entry" within the meaning of the statute when he included in such report, as il Loans and discounts" of the bank, amounts which were being carried on the books of the bank as "overdrafts," the jury will not consider whether other national banks followed the same practice; but the jury, in determining whether such entry, if a u false entry, " was made with intent to deceive and defraud, may consider whatever knowledge defendant is shown to have had as to practice of any other national bank in this respect. Ib. 12. It is not necessary to complete the offense of making a " false entry" in a report to the Comptroller of the Currency of the condition of a national bank, with intent to deceive or defraud, that any person shall have been in fact actually deceived or defrauded; for the making of such a "false entry" with the intent to deceive or defraud is sufficient. Ib. 13. Under sec. 5209 of the national-bank act it is an indictable offense to make a false entry in a report to the Comptroller of the Currency, or to aid and abet the making of such entry. United States v. French et al., 57 Fed. Rep., 382. 14. It is not a ufalse entry" to enter under heading of " Loans and discounts" items which, on books of the bank, and for convenience of its officers, have been temporarily withdrawn from that heading, and which are, from day today, carried on the books of the bank under heading of " Suspended loans" while awaiting action of directors as to same being withdrawn from character of loans and entered up as a loss on profit and loss account. United States v. Graves, 53 Fed. Rep., 634. FORFEITURE OF CHARTER. 1. Forfeiture of the privileges and powers of a national bank must be determined by a suit brought by the Comptroller of the Currency and until determined it may do business, and no person, by a conspiracy to evade its regulations, may escape liability for borrowed money loaned by it, upon personal security in the manner authorized. Stephens v. Monongahela National Bank, 88 Penn. St., 157; 32 Am. Rep., 438; 2 N. B. C, 398. 2. Under Rev. St., sec. 5239, providing that if the directors of a national bank shall violate any of the provisions of the title relating to the organization and management of banks, the franchises of the bank shall be forfeited, such violation, however, to be determined by a proper court of the United States in a suit therefor by the Comptroller, and that in cases of such violation every director participating therein shall be personally liable for all damages which the bank, its shareholders, or any other person shall have sustained in consequence thereof, the Comptroller can not authorize the receiver to bring suit, under sec. 5234, to enforce such personal liability, until it has been adjudged by a proper court that such acts have been done as authorize a forfeiture of the charter. Welles v. Graves, 41 Fed. Rep., 459. 3. The forfeiture of the rights, privileges, and franchises of a bank authorized by Rev. St., sec. 5239, for violation by its directors of the provisions of the banking act, comes within sec. 1047, limiting suits for any penalty or forfeiture accruing under the laws of the United States to five years, Ib. 4. The right to maintain an action under Rev. St., sec. 5239, to recover from a bank director the damages sustained by his bank in consequence of excessive loans made by him while serving in the capacity of director, is not affected by the fact that the Comptroller has or has not procured a forfeiture of the bank's charter. Stephens v. Overstolz, 43 Fed. Rep.,771. 5. In an information charging that "the banking association and the directors thereof did knowingly permit," etc., the allegation that the association, aside from the directors, permitted the doing of the alleged acts, tenders an immaterial issue, and should be stricken out on motion. Trenholm, Comptroller, v. Commercial National Bank, 38 Fed. Rep., 323. 6. As the section only refers to acts done by the directors, or by the executive officers with the knowledge of the directors, an information seeking a forfeiture, which charges that the association did the act, is insufficient. Ib. FORGERIES : 1. A depositor owes a duty to the bank to make an examination of his pass book and vouchers within a reasonable time ; and if loss would result to the bank from his failure to do so he can not recover for forged checks paid by the bank and charged to his account. First National Bank v. Allen, 14So.y 835. 80 REPORT OF THE COMPTROLLER OF THE CURRENCY. FORGERIES—Continued. 2. Where the examination is committed to a clerk or agent who has himself committed the forgeries, his concealment of such forgeries will not relieve the depositor from the consequences of the failure to discover the fraud and notify the bank. Ib. 3. But if the omission of the depositor to discharge such duty has resulted in no injury to the hank, the depositor may recover. Ib. 4. Where, however, forgeries by the same person are committed after the depositor is chargeable with knowledge of the fact, the failure of the depositor to give the bank notice may estop him to dispute the genuineness of such checks. 1b. 5. Plaintiff bank paid defendant bank money on a forged order, made j)ayable at plaintiff bank, bearing the general indorsement of the payee and of defendant, the latter being uFor collection.;; The person by whom the order purported to be drawn was a customer of plaintiff, and had directed it to pay orders drawn by him. The forgery was not discovered for four weeks: Held, That an answer alleging that at the time of the payment the payee had property from which the order could have been collected, but that before the discovery of the forgery the payee had departed with his property, was not sufficient to prevent recovery of the money paid defendant, as it did not show how long the payee and the property remained within reach, and, therefore, failed to show loss to defendant by unreasonable delay of plaintiff in discovering the forgery and notifying defendant. Indiana National Bank v. First National Bank, 36 N. E., 382. 6. In an action against a bank by a depositor to recover the amount of checks drawn by plaintiff, but alleged to have been paid by defendant on indorsements of the payees' names forged by plaintiff's cashier, part ot whose duty was to fill in the body of checks for plaintiff to sign, pay bills, and keep the accounts, it appeared that the money on the checks in question had been obtained by plaintiff's cashier, but there was no evidence that any payees had been named in them, the canceled checks having been destroyed by the cashier: Held, That plaintiff" could not recover, as ifc would not be presumed that the cashier committed forgery in addition to the embezzlement, uwhen he could have avoided forgery by making the checks payable to cash " or tl bearer," in which event defendant would not be liable. National Bqard of Marine Underwriters v. National Bank of the Republic, 29 N. Y. 8., 698. 7. Defendant bank received a check drawn on plaintiff for collection. After plaintiff had remitted to defendant and defendant had paid the holder of the check, it was discovered that the payee's name was forged: Held, That delay of plaintiff in notifying defendant of the forgery did not relieve defendant from liability, where the only evidence of injury from the delay was that of defendant's cashier, who said: " I f more seasonable notice had been given the forger would have been arrested earlier, and more .favorable results might have arisen." Third National Bank v. Merchants1 National Bank, 27 N. Y. 8., 1070. GUARANTY: A personal guaranty, given by stockholders and directors to another bank in consideration of loans, discounts, or other advances to be made, for the repayment of any indebtedness thus created, imposes a liability on the guarantors whenr acted on by the guarantee, though no notice of the acceptance of the guarantee was given, for the contract shows a personal interest of the guarantors in the advances constituting a consideration moving to them. Bond et til. v. National Park Bank, 54 Fed. Hep., 846. INCREASE OF CAPITAL STOCK: See Capital stock. INDICTMENT : See False entries. 1. An indictment under act of July 12, 1882, amending sec. 5208, making it a misdemeanor to tl certify any check" drawn by a person not then having on deposit sufficient money to meet same need not allege delivery of check by bank after certification. United States v. Potter, 56 Fed. Rep., 83. 2. When indictment alleges certification as accomplished, authentication will not be presumed as an essential part thereof, and hence it is unnecessary to allege absence of required credit or deposit at time of authentication. 1b. 3. The indictment in charging in the language of sec. 5208 that the drawer of the check had not on deposit, at tlfe time it was certified, "an amount of money equal to that specified" in the check is sufficient. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 81 INDICTMENT—Continued. 4. The indictment does not charge two offenses in the same count because it alleges therein that the check was certified ""before the amount thereof had been entered to the credit of the drawer on the books of the bank," and also at a time when the drawer did not "have on deposit an amount of money equal to" the amount of the check. Ib. 5. An indictment against the president for "aiding and abetting" cashier in certifying check under prohibition can not be sustained. Ib. 6. An indictment charging defendants "with aiding and abetting a director in.a willful misapplication of the money of an association must state facts to show that there has been such misapplication committed by the director. United States v. Warner, 26 Fed. Hep., 616. 7. An indictment against the president of a national bank, alleging that he "unlawfully and willfully and with intent to injure and defraud the said association for the use, benefit, and advantage of himself, did misapply certain of the money and funds of the association which he * * * then and there with the intent aforesaid paid and caused to be paid" to certain persons named, was bad for failure to allege the fact that made such payment unlawful or criminal. United States v. Eno, 56 Fed. Hep., 218. 8. It is not essential that such indictment should allege that the acts charged were done without the knowledge and assent of the directors of the association. Ib. 9. In indictment under Rev. St.. sec. 5209, for willfully misapplying the funds of a national bank, it is not necessary to charge that the funds had been previously intrusted to defendant, since such act may be done by an officer or agent of the association without his having previously received the funds into his manual possession. United States v. Northway, 120 U. S., 327. 10. In indictment charging president of a bank with aiding and abetting its cashier in the misapplication of its funds, it is not necessary to aver that he then and there knew that the person so aided and abetted was the cashier. Ib. 11. A form of indictment which sufficiently describes and identifies the crime of abstracting the funds of a national bank created by Rev. St., sec. 5209, and sufficiently states the character and capacity of the bank. Ib. 12. An indictment for willfully misapplying funds of a national bank (Rev. St., sec. 5209), charging in general words fraudulent misapplication and intent to defraud the bank, and describing specifically funds misapplied and the manner of misapplication, need not negative every possible theory consistent with an honest purpose in the disposition of the funds specified. Evans v. United States, 14 S. Ct., 934; Ib., 939. 13. An indictment charging directors of a national-banking association with making false entries in a report of condition to the Comptroller of the Currency can not be sustained under sec. 5209. United States v. Pottert 56 Fed. Rep., 83. 14. The use in an indictment, under sec. 5209, of the words, "then and there" in alleging that the defendant was president or director of such bank and made alleged false entries, is not uncertain or repugnant merely because in one place they may refer to the whole of a day and in another to only one instant of the day. Ib. 15. The omission of the signs for dollars and cents in the recital of alleged false entries in reports and misnomer of reports are immaterial Avhere reports are set out by their tenor in the indictment. Ib. 16. It is not necessary to allege specifically in such indictment that the reports were transmitted to the Comptroller of the Currency, or that they were published. Ib. 17. Allegations that the false entries were made with intent '-'to injure and. defraud the said association and certain persons to the grand jurora unknown" are sufficient. Ib. 18. An indictment against the president of a national bank, under sec. 5209, for making false entries in the books of the bank, charging that it was done "with intent to defraud said association and certain persons to the grand jurors u»nknown" is sufficient so far as concerns the allegations of intent. United States v. Potter, 56 Fed. Rep., 97. 19. When indictment alleges that the false entries indicated that there was then in the paying teller's department of the bank certain amount in gold, legal tenders, and gold certificates, when in fact such amount was not there, it is not necessary that it should further allege that such amount was not then in other departments of the bank. Ib. 20. In addition to the entries themselves, the indictment need set out the context only when it so modifies the entries as to be in presumption of law a part of them. Ib, 8182 CUR 6 82 REPORT OF THE COMPTROLLER OF THE CURRENCY. INDICTMENT—Continued. 21. The fact that the note teller's and paying teller's books, in which the president is charged with making the false entries are usually kept by those officers without interference by the president does not invalidate indictment thereon. Ib. 22. Counts charging false entries by the president in reports of condition of the bank, which allege that reports were made in conformity to the law and then set them out by their tenor are bad, for their failure to allege specifically that the reports were verified and attested by the cashier. Ib. 23. Where the entry whose tenor is set forth contains the words "See schedule," it is not a valid objection to the indictment that these words are not explained. United States v. French et al., 57 Fed. Rep., 882. 24. It is sufficient if the indictment allege the substance of the reports in question without setting them out in full. Ib. 25. An allegation in an indictment under sec. 5209 that defendant "did make a certain false entry in a certain'report of the association" will not be construed to mean that the entry was made after the report was completed, and was, in fact, an alteration. Ib. 26. The preparation and completion of the report, the making of the false entry therein, its verification, attestation, and delivery to the Comptroller, may be considered as simultaneous, and there is no repugnance in failing to allege that any or all of these things occurred in consecutive order. Ib. 27. Though the counts in an indictment under this section for aiding and abetting the cashier in making such false entries describe defendant as " being then and there a director" of the bank in question, it can not be held that they charge him in aiding and abetting in his official capacity. Ib. 28. Counts in such indictment, which charge defendant with procuring and counseling the false entry before the fact, are valid, for such acts are covered by the clause of the section extending the penalty to any one who " abets" an officer or agent in the acts prohibited. Ib. 29. Indictment against president for false entry on books held sufficient in form and averments. United States v. Britton, 107 U. S., 655. 30. Indictment against president for fraudulent purchase of stock of the bank is bad if it fails to state for whose use purchase was made, or if it states that it was for use of the bank, or if it does not aver that it was not made to prevent loss on previous debt. Ib. 31. Indictment for perjury against officer for false statement under sec. 5211, Rev. St. is bad if, prior to act of 1881, chapter 82, his oath verifying report was taken before notary appointed by a State. United States v. Curtis, 107- U. S., 671. INJUNCTION : 1. Section 5242, Rev. St., providing that no injunctions shall issue from a State court against*a national bank before final judgment, does not deprive the Federal court of power to issue such injunction or to continue after removal of the case an injunction previously granted by a. State court. Rower v. Weiss Malting and Elevator Co. et al.,55 Fed. Rep., 356. 2. State courts have no power to grant before final judgment an injunction prohibiting a national bank from disposing of securities in its possession. Freeman Manufacturing Company v. National Bank of Republic, 35 N. E., 865. 3. The provisions of the national-bank act, forbidding such injunctions, were not repealed by St. U. S., 1882, c. 290, sec. 4, or St. U. S., 1887, c. 373, sec. 4, or St. U. S., 1888, c. 866, sec. 4. Ib. INSOLVENT BANKS : See Preferred claims ; Receiver. 1. A return of nulla bona upon an execution issued against the property of a national bank is proof of its insolvency. Wheelock v. Kost, 77 III., 296. 2. The creditors of an insolvent national-banking association in the hands of a receiver are entitled to interest on their claims during the period of administration. National Bank of Commonwealth v. Mechanics' National Bank, 94 U. S., 437; White v. Enox, 111 U. S., 784. 3. A subscriber who has made payments on his subscription to the proposed increase, believing that the statutory requirements would be complied with, is entitled to have the amount thereof allowed as a claim against the assets of the bank in the receiver's hands. Armstrong v. Stanage, 37 Fed. Rep., 568. 4. The directors of a national bank voted to increase the capital stock " t o $1,000,000," and that the stockholders "have the right to take new stock at par to an equal amount to that then held by them." No subscription books were opened, and the plaintiff did not subscribe for any of the new REPORT OF THE COMPTROLLER OF THE CURRENCY. 83 INSOLVENT BANKS—Continued. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. stock, but paid the bank a sum equal to the amount of stock then held by her, taking a receipt therefor "on account of subscription to new stock." The new stock subscribed for and paid in did not amount to enough .to make the capital stock $1,000,000, and the directors then voted that the capital stock be increased by the sum paid in. The Comptroller of the Currency was notified that the capital stock of the bank had been increased to that extent, and he issued a certificate authorizing the bank to carry on business with that amount of capital stock. The amount paid in, as above, was used by the bank in its general business, and lost within a month after the certificate was issued, the bank having suspended. The plaintiif demanded back the amount paid in by her: Held, That she was entitled to recover it, with interest from the date of her demand. Eaton v. Pacific National Bank, 144 Mass., 260;^ 3 N. B. C, 483. A national bank determined to increase its capital stock from $300,000 to $500,000. The new stock subscriptions amounted to only $130,060. The bank advertised an increase to $430,060. This was never authorized by vote of the stockholders, nor certified to or approved by the Comptroller of the Currency. The plaintiif subscribed and paid $2,000 for so much of the originally proposed increase: Held, That plantiff did not become a stockholder, and when the bank became insolvent was entitled to judgment against the receiver for the amount so paid. Schierenberg v. Stephens, 32 Mo. app., 314; 3 N. B. C, 528. Rev bt. sees. 5234 and 5239, prescribing the method of enforcing the liability of the directors of national banks for violation of the banking law, are exclusive of other remedies, and a creditor of an insolvent bank, for which a receiver has been appointed, can not sue its directors for, the purpose of making them personally liable for the mismanagement of the bank. National Exchange Bank v. Peters et at., 44 Fed. Rep.,-13. A national bank does not lose its corporate existence by mere default in paying its notes and the appointment of a receiver. Banh of Bethel v. Pahquioque Bank, 14 Wall., 383. Such associations may be sued, though a receiver has been appointed and is administering its concerns. Ib. A creditor of an insolvent national bank, who establishes his debt by suit and judgment after refusal of Comptroller to allow it, is entitled to share in dividends on debt and interest so established as of day of failure of bank, not for subsequent interest. White v. Knox, 111 U. S.f 784. The personal property of an insolvent bank in hands of a receiver is exempt from State taxation. Rosenblatt v. Johnston* 104 TJ. S., 462. When a creditor of a national bank is entitled to interest on the amount of his dividend from the time it was declared by a receiver of the bank. Armstrong v. American Exchange National Bank, 133 TJ. S.. 433. In 'estimating the dividends to be paid out of the assets of an insolvent association, the value of the claims at the time when the insolvency is declared is to be taken as the basis of distribution. White v. Knox, 111 U. S., 784. A creditor will not have a lien upon the funds of the association because checks given in settlement of balances were fraudulent, and were given at a time when the bank was hopelessly insolvent and its officers were contemplating flight. Citizens'' National Bankv. Dowd, 35 Fed. Rep., 340. A suit against a national bank to enforce the collection of a demand is abated by a decree dissolving the corporation, and forfeiting its rights and franchises. National Bank v. Colby, 21 Wall., 609', 1 N. B. C, 109. The claims of depositors in a suspended national bank are, when proved to the satisfaction of the Comptroller of the Currency, on the same footing as if they were reduced to judgments. National Bank of Commonwealth v. Mechanics'' National Bank, 94 U. S., 437; 1 N. B. C. 133. National banks are not subject to the bankrupt act, and bankruptcy courts have no jurisdiction as against such associations. It insolvent, they can be wound up only in the mode provided by the national banking act. In re Manufacturers' National Bank, 5 Bissell, 499 ;1 N. B. C> 192. The plaintiff, a citizen of New York, claiming title by assignment to the bonds deposited with the Treasurer of the United States to secure the circulation of a national bank, filed a bill setting forth that the Comptroller of the Currency and the Treasurer refused to recognize his right to the bonds or their proceeds; that the Comptroller had appointed one K. a citizen of New York, receiver of the said bank, and intended to sell the said bonds and to pay the proceeds, after redeeming the circulation of the bank, to the general creditors of the bank, or to K. as such receiver, and 84 REPORT OF THE COMPTROLLER OF THE CURRENCY. INSOLVENT BANKS—Continued. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. that K. claimed as such receiver an interest adverse to the plaintiff in said bonds. The bill made the Comptroller, the Treasurer, and K, parties defendant, and prayed a decree establishing the plaintiff's title, and requiring the Comptroller and the Treasurer to deliver to the plaintiff the surplus of the bonds after redeeming the notes of the bank and annulling the appointment of K. as receiver. K. demurred to the bill for lack of equity: Held, That the demurrer must be sustained. Van Antwerp v. Hulburd, 8 Blatchford, 282; 1 JST. B. C, 219. Per Woodruff, J. (1) The plaintiff could not question the validity of K.'s appointment as receiver; (2) that, as the court could not grant the relief as to the Comptroller and Treasurer, it could nat as to K.; (3) that, as under the national-banking act tho proceeds of the bonds could never come into the possession of K., he had no concern in the suit; (4) that the allegation that plaintiff was informed and believed that K. claimed an interest in the bonds adverse to the plaintiff was not sufficient to sustain the bill. Ib. Per Hall, J. The residuary interest of the bank in the bonds was apart of the assets of the bank, to which K., as receiver, was entitled, unless the plaintiff's claim thereto was good, and that therefore the bill presented a question of property between plaintiff and K., but that as plaintiff and K. were residents of the same State, the circuit court had not jurisdiction. Ib. Where a national bank is declared in default by the Comptroller of the Currency, and a receiver is appointed, and a sufficient fund is realized from its assets to pay all claims against it and leave a surplus, the Comptroller should allow interest on the claims during the period of administration before appropriating the surplus to the stockholders of the bank. Chemical National Bank v. Bailey, 12 Blatchford, 480; 1N. B. C, 260. An action of assumpsit to recover such interest will not lie against the Comptroller of the Currency or the receiver of the bank, but will lie against the bank. Ib. Where a bank has by reason of its own default been placed in the hands of a receiver, a demand of payment by a depositor is no longer a necessary condition precedent to a right of action for the deposit, and the deposit bears interest from the time of such default. Ib. The receiver of a national bank holds the same title to the assets of the bank that the bank itself held; and he has no greater rights in enforcing their recovery than the bank itself would have had. Casey v. La Societe de Credit Mobilier de Paris, 2 Woods, 77; 1 N. B. C, 285. Insolvent debtors of an insolvent national bank assign, giving preferences in favor of the bank. Quaere, whether the debt preferred shall carry interest: Held, That where there is nothing in the language of the assignment, or in the circumstances under which the debt was created, to negative the presumption that the debt should bear interest, and nothing in the conduct of the receiver of the national bank to estop him from claiming interest, in such a case interest must be paid. Bain et al. v. Peters, 44Fed. Rep., 307. The question whether a savings bank should be paid in full by an insolvent national bank, pursuant to the State law (Laws N. Y. 1882, chap. 409, sec. 282; Bank v. Davis, 26 N. Y. Supp., 200; 73 Hun., 357), or pro rata, as provided by the Rev. St. sees. 5236, 5242: Held, upon a motion to remand, to be a controversy " arising under the laws of the United States." Auburn Savings Bank v. Hayes,m61 Fed. Rep., 911. The receipt by a bank of the proceeds of a fraudulent sale of stock belonging to it, and the subsequent appointment of a receiver, give its creditors no such right in the proceeds as will prevent the purchaser from rescinding the sale andrequiring restitution. Merrill v. Florida Land and Improvement Co., 60 Fed. Rep., 17. When a bank has become hopelessly insolvent, and its president knows that it is so, it is a fraud to receive deposits of checks from an innocent depositor, ignorant of its condition, and he can reclaim them or their proceeds; and the pleadings in this case are so framed as to give the plaintiff in error the benefit of this principle. St. Louis and San Francisco Railway Co. v. Johnston, 133 U. S., 566. Sureties on indebtedness of insolvent bank are not entitled to prove any claim against it by reason of the enforcement of their liability as such. Stewart v. Armstrong, 56 Fed. Rep., 167. Where an indorser pays a note to a bank and takes a receipt containing an order for a surrender of the note on return of the receipt, the relation between the bank and the indorser is not that of debtor and creditor, but is REPORT OF THE COMPTROLLER OF THE CURRENCY. 85 INSOLVENT BANKS—Continued. a fiduciary relation, entitling the indorser, on the bank becoming insolvent without applying the money on the note or procuring its surrender, to have the assets in the hands of its receiver applied in payment thereof. Massey v. Fisher, 62 Fed. Rep., 958. 30. The fact that the money was not marked, and by a mingling with other funds of the bank lost its identity, does not affect the right to recovery in full, if it can be traced to the vaults of the bank, and it appears that a sum equivalent to it remained continously therein until removed by the receiver. Ib. INTEREST : See Usury; Insolvent banks. 1. The provision in sec. 30 of the act of 1864 " t h a t where, by the law of any State, a different rate is limited for banks of issue organized under State laws, the rate so limited shall be allowed for associations organized in any such State under the act," is enabling, and not restrictive; and, therefore, a national-banking association in any State may stipulate for as high a rate of interest as by the laws of such State a natural person may, although State banks of issue are restricted to a less rate. Tiffany v. National Bank of the State of Missouri, 18 Wall., 409. 2. Bank may take the rate of interest allowed by the State to natural persons generally, and a higher rate where State banks of issue can take it. Ib. 3. But it is not to be inferred from Tiffany v. National Bank of Missouri that whatever by the laws of the State is lawful for natural persons in acquiring title to negotiable paper by discount is lawful for national banks. National Bankv. Johnson, 104 U. S., 271. 4. May charge rate of interest allowed to natural persons in the State or Territory where bank is located, but can not take more, even on discount of ^ paper for third party, without it being usury. Ib. 5. The interest which a national-banking association may charge is limited to the rate allowed to the banks of the State generally; and the fact that a few of the State banks are specially authorized to take a higher rate is not a warrant for a national-banking association to do so. Duncan v. First National Bank of Mount Pleasant, 11 Bank Mag., 787; 1 N. B. C, 360; Gruber v. First National Bank, 87 Fenn. St., 468. 6. Where the State law does not limit the rate of interest which may be charged on loans to corporations, a national-banking association located in that State can not charge more than 7 per cent interest on such loans. In re Wild, 11 Blatch., 243. 7. Where by the statutes of the State parties are authorized to contract for any rate of interest, national-banking associations in that State may likewise contract for any rate, and are not limited to 7 per cent. Hinds v. Marmelejo, 60 Cal.f 229. 8. Under Rev. St., sec. 5197, authorizing national banks to charge any rate of interest allowed by the law of the State wherein such bank is organized, and the statute fixing a legal rate of interest, a national bank in 1Colorado may charge interest at any agreed rate. Rockwell v. Farmers National Bank, 36. P., 905. 9. As act 1873 (70 Ohio Laws, 178) repeals the statute fixing the rate of interest for banks of issue, a national bank may charge interest at 8 per cent under Rev. St., sec. 3181. La Dow v. First National Bank, 37 N. E., 11. 10. The decisions of the United States Supreme Court teach that the statute referred to is to be liberally construed in favor of national banks, and even when the language of the statute would restrict them to a less rate of interest than is allowed to individuals, the intendment of the law must be presumed to have been otherwise. Tiffany v. National Bank of Missouri held that the intent of the law was to put national banks on an equal footing with State banks; to allow the State banks to charge any amount of interest and national banks only 8 per cent would violate that intention; to say that national banks could charge only 7 per cent would be to say that the State had prescribed no rate of interest. National Bank of Jefferson v. Bruhn <f- Williams, 64 Tex., 571. 11. Where drafts are from time to time deposited in a bank, some of them being payable on demand and some on time, an agreement between the bank and the depositor that credit shall be given for such drafts on the day after their deposit, the depositor being charged the fall legal rate for any overdraft, does not constitute usury when such agreement is made in good faith in order to save involved calculations. Timberlake et al. v. First National Bank, 43 Fed. Rep., 231. 86 REPORT OF THE COMPTROLLER OF THE CURRENCY. INTEREST—Continued. 12. Charging a depositor, by agreement, at the end of each month, with interest at the full legal rate on his overdraft, and adding such charge to the overdraft, does not constitute usury. Ib. 13. Under Code Miss., 1880, which only allows interest on the amount of money actually lent, a national bank in that State can not deduct interest in advance. Ib. 14. Under the national banking act, any national bank in Pennsylvania can charge and take the same rate of interest as any State bank of issue is authorized to charge. First National Bank of Mount Pleasant v. Tinstman, 36 Legal Intelligencer, 228; 2 N. B. C, 182. 15. Interest on dividends should not be allowed in favor of one who voluntarily delayed presenting his claim until long after the dividends were declared, although the delay was due to a mistaken belief that he had aright to pay his claim in full from collaterals in his hands. Chemical Nat'I Bank v. Armstrong, 59 Fed. Rep., 372. 16. The refusal of a creditor to accept the receiver's offer to allow part of a claim without prejudice to a suit for allowance of the remainder, or to the receiver's right to still further reduce the claim if the court should hold such reduction proper, bars the creditor's right to interest on subsequent dividends on the part offered to be allowed, although it is subsequently adjudged that the whole of his claim should have been allowed; but he is entitled to interest on the dividends on the part rejected. Ib. 17. In case of book accounts in favor of depositors, interest begins to run against an association in liquidation from the date of the suspension of business. Richmond v. Irons, 121 U. S., 27. 18. There is an established rate of interest in Washington (10 per cent), and the fact that by special contracts different rates may be collected does not affect the question, and therefore a national bank may charge that rate. Yakima National Bank v. Knipe, 33 P., 834; 6 Wash., 348. 19. The fact that there are several entries in the books of a bank and in the pass book of a depositor of allowance of interest on his account is not ; ufficient to prove a contract by the bank to pay interest while the deposit should remain, where it is proven that after the entries were made the officers of the bank, on several occasions, told the depositor that it was against their rules to pay interest, and that they would not pay it, and that he apparently acquiesced. McLoghlin v. National Mohawk Valley Bank, 139 N. Y. St., 514; 34 N. E., 1095. JURISDICTION : See Actions. A. Solvent banks— 1. In an action against a national bank in a circuit court of th.e United States, if all the parties are citizens of the district in which the bank is situated, and the action does not come under sec. 5209 or sec. 5239, Rev. St., the circuit court has no jurisdiction. JYhittemore v. Amoskeag National Bank, 134 U. S., 527. 2. The Federal courts have jurisdiction of an action between a national bank located in one State and a citizen of another State. First National Bank v. Forest, 40 Fed. Rep., 705. 3. State courts have jurisdiction of suits by and against national banking associations. Bank of Bethel Y. Pahquioque Bank, 14 Wall., 383; Ordwayv. Central National Bank, 47^ Md., 217, and Claffiin v. Houseman, 93 U. S., 130. 4. Where a national banking association is sued in a State court, the suit must be brought in the city or county in which the bank is located. Cadle v. Tracey, 11 Blatch.,101. 5. But in a State where the holder may sue without respect to the ownership an association may bring suit upon paper so acquired. National Pemberton Battle v. Porter, 125 Mass., 333; Atlas National Bank v. Savery, 127 Mass., 75. 6. The words of restriction to the place where said association is situated apply to the county and municipal courts, and not to the State courts. In the State courts of general jurisdiction a national banking association can be sued whenever an individual can be for the same cause. Talmagev. Third National Bank, 27 Hun., 61. 7. A State court can entertain an action brought to recover of a national banking association the penalty for taking usury. Ordway v. The Central National Bank, 47 Md., 217; Hade v. Me Fay, 31 Ohio St., 231; Bletz v. Columbia National Bank, 87 Perm. St., 87. 8. State courts have no jurisdiction of the case of an embezzlement of the funds of the association by one of its officers. Commonwealth v. Felton, 101 Mass., 204; Commonwealth ex rel, Torrey v. Ketner, 92 Penn. St., 372. REPORT OF THE COMPTROLLER OF THE CURRENCY. 87 JURISDICTION—Continued. 9. The defense of usury may be set up in action brought in a State court. National Bank of Winter set v. Eyre, 52 Iowa, 114. 10. A national banking association is for jurisdictional purposes a citizen of the State in which it is located. Davis v. Cook, 9 Nev., 134. 11. The oliense of making false entries in the books of a bank, for which an officer of the bank is liable to punishment, under sec. 5209, since it is not a crime of which the State courts have concurrent jurisdiction, under sec. 5328; is exclusively cognizable by the Federal courts. In re Eno, 54 Fed, Rep., 69. 12. Under the provisions of the act of August 13, 1888, national banks are deemed to be, for jurisdictional purposes, citizens of the State wherein they are located and they no longer possess the right of removal on the ground that they are Federal corporations. Burnham et al. v. First National Bank of leoii, 53 Fed. Rep., 163. 13. An action for money against a national bank whose corporate existence is admitted is not a suit arising under the laws of the United States. Ulster County Savings Institution v. Fourth National Bank, 8 N. Y., 162. 14. The provision that the Federal courts shall not have jurisdiction of an action on a promissory note or other chose in action by an assignee thereof, unless the action might have been maintained in such courts if no assignment or transfer had been made (act August 13, 1888), does not apply to the indorsement and transfer of the payee of notes which were made to him merely that he might as agent of the maker raise money for it by negotiating them with third persons. Wachusett National Bank v. Sioux City Stove Works, 56 Fed. Rep., 321. 15. A suit on the official bond of the cashier of a national bank, conditioned for a faithful performance of the duties thereof, ll according to law and the by-laws" of the bank, involves a Federal question and is maintainable in a Federal court irrespective of the citizenship of the parties. Walker et al. v. Windsor National Bank, 56 Fed. Rep., 76. 16. In a suit which is properly brought in a Federal court, because it involves a Federal question, the court has full jurisdiction of the defendant, who, though a resident of another district, waives his personal privilege of being sued in his district by voluntarily appearing. Ib. 17. A citizen of New York brought suit in the circuit court of North Carolina against a citizen of North Carolina on promissory note to cashier of national bank, which was also located there. Note had been indorsed to plaintiif. After indorsement a receiver had been appointed for the bank: Held, That the receiver would have been an assignee of the note although the assignment was brought about by operation of law, and that as bank could not have sued in circuit court neither could the receiver nor the plaintiff, as the court had no jurisdiction. Ib. 18. Under the above statute assignee can not maintain a suit on a promissory note unless the oi iginal payee could have prosecuted it. Ib. 19. The exemption of national banks from suits in State courts in other than their own county or city, by act of February 18,1875 (18 St., 316, chap. 80) was a personal privilege which could be waived by appearing to such suit and not claiming the immunity. First National Bank v. Morgan, 132 U. S.. 141. 20. The provision in act of July 12, 1882 (22 St., 163, chap. 290, sec. 4), respecting suits by or against national banks, refers only to suits brought after the passage of that act. Ib. 21. This court has jurisdiction to review a judgment in State courts involving the question whether a national bank is exempted from liability to account for bonds purchased by it on condition of selling back on demand. Logan Bankv. Town send, 139 U.S., 67. 22. When transaction of transfer of national-bank shares does not present a case arising under national banking act, and so involving a Federal question. Le Sassier v. Kennedy, 123 U. S., 521. 23. State courts have no jurisdiction of actions to recover penalties imposed by the national banking act. Missouri River Telegraph Company v. First National Bank of Sioux City, 74 III, 217; 1 N. B. C., 401. 24. When a State bank acting under a statute of the State calls in its circulation issued under State laws, and becomes a national bank under tliM laws of the United States, and a judgment is recovered in a court of the State against the national bank upon such outstanding circulation, the defense of the State statute of limitations having been set up, a Federal question arises which may give this court jurisdiction in error. Metropolitan National Bank v. Claggett, 141 U. S., 520. 88 REPORT OF THE COMPTROLLER OF THE CURRENCY. JURISDICTION—Continued. B. Insolvent banks— 25. The tenth subdivision of sec. 629, Rev. St., which confers upon the circuit court of the United States jurisdiction of all suits by or against any national banking association established in the district for which the court is held, has been repealed by the proviso to sec. 4 of the act of July 12, 1882. National Bank of Jefferson v. Fare et ah, 25 Fed. Hep., 200. 26. The object of this proviso was to deprive the United States courts of jurisdiction of suits by or against national banking associations in all cases where banks organized under State laws could not likewise sue or be sued in such courts. Ib. 27. But the proviso does not affect the right of the receiver of an insolvent association to sue in a Federal court. Sendee v. Connecticut and F. B. It. Co., 26 Fed. liej)., 677. 28. Nor would the act of July 12,1882, take from the circuit court jurisdiction of a suit brought agaiust a director for negligent performance of his duties; for, as such suits rest upon the requirements of the United States laws and by-laws made pursuant thereto, it is a case arising under the laws of the United States. Witters v. Foster, 28 Fed. Rep., 737. 29. An action between a receiver of an insolvent national bank and a depositor does not present a Federal question under Rev. St., sec. 5242, avoiding preferences to creditors of such an insolvent bank. Tehan v. First National Bank et al, 39 Fed. Hep., 577. 30. A receiver of an insolvent national bank is an officer of the United States within the meaning of sec. 563, Rev. St., which gives the district courts jurisdiction of te all suits at common law brought by the United States, or any officer thereof authorized by law to sue." Stephens v. Bernays, 41 Fed. Bep., 401. 31. The United States district court has jurisdiction of an action at law brought by the receiver of a national bank to recover an assessment made upon a stockholder, and the action may be maintained in such event against the executor of a deceased stockholder. Ib. 32. The State courts have jurisdiction of an action brought by a shareholder on behalf of himself and other shareholders to recover of the directors of an insolvent association damages for injuries resulting from their negligence and misconduct. Brinckerhoff"v. Bostwick, 88 N. Y., 52. 33. A State court has no power to make an order directing the receiver of a national bank who has been appointed by the Comptroller of the Currency to pay a judgment obtained against the bank before the receiver was appointed. Ocean National Bank v. Carll, 7 Hun., 237. 34. Neither the Comptroller nor the receiver by putting in an appearance to a suit can subject the United States to the jurisdiction of a court. Case v. Terrell, 11 Wall., 199. 35. The Federal courts have jurisdiction of suits by receivers of national banks to collect the assets thereof without regard to the citizenship of the plaintiff. Fisher v. Yoder, 53 Fed. Bep., 565. 36. A Federal court is not deprived of jurisdiction otherwise vested in it of a suic against the executors of an estate by the fact that the estate is in the possession of a State probate court for purposes of administration, and the Federal court has jurisdiction to adjudge whether a liability exists, but can not issue execution to enforce the same. Wickham v. Hull et al., 60 Fed. Bep., 326. 37. A suit against the receiver of a national bank to compel him to pay out of the funds in his hands as receiver moneys claimed by the complainant is a suit arising under the laws of the United States, and can be removed into the Federal court. Hot Springs Independent School District, etc., v. First National Bank of Hot Springs, 61 Fed. Bep., 417. LEASE : Where a national bank takes a lease for a long term, its insolvency and dissolution soon afterwards, and the appointment of a receiver, who refuses to take possession of the leased premises, do not entitle the lessor to damages out of the assets, the rent having been paid for the time during which the bank was in possession. Fidelity Safe Deposit and Trust Co. v. Armstrong, 35 Fed. Bep., 567. LIABILITY OF BANK : 1. Where a national-banking association has taken collaterals to secure a loan, and, after the loan has been repaid, holds them to secure future advances, it is not a gratuitous bailee; and it is responsible for the loss of such col REPORT OF THE COMPTROLLER OF THE CURRENCY. 89 LIABILITY OF BANK—Continued. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. laterals occasioned "by its lack of ordinary care and diligence, though at the time the bailor was not indebted to it. Third National Bank of Baltimore v. Boyd, 44 Md., 47. A bank receiving a certificate of deposit for collection, and mailing it to the drawer with a request for a remittance, is guilty of negligence. First National Bank of Evansville v. Fourth National Bank of Louisville, 56 Fed. Rep., 967. A bank is charged with notice of letters duly mailed to it and received by the general bookkeeper, whose duty it is to open and distribute mail matter, although he conceals such letters to hide certain irregularities in his office, and thereby prevents their coming into the hands of the other bank officers. Ib. The E. bank, on May 8,1888, mailed to the L. bank for collection a certificate of deposit issued by P. & Co., which, the next day, negligently mailed it to P. & Co. with request to remit. On June 1 theL. bank credited the E. bank with the item in account current for May, and wrote that nothing had been heard from P. & Co. On June 22 the L. bank wrote that repeated letters about the item had remained unanswered. The L. bank now charged the E. bank with the item. No further correspondence ensued. P. & Co. continued in good credit until after January 1, 1889, when they failed: Held, That the L. bank was not responsible for more than nominal damages. Ib. Where bank acquires title to real estate by conveyance from its president who held same under deed reciting full payment of purchase money, and bank has no actual knowledge that purchase money was not in fact paid, it is an innocent purchaser without notice, and is not chargeable with constructive notice because of the knowledge of its president. First National Bank of Sheffield et al. v. Tompkins, 57 led. liep., 20. If a cashier, without authority to buy coin in behalf of his bank, does so buy it, and it goes into the funds of the bank, it is liable. Merchants7 Bank v. State Bank, 10 Wall, 604. Where a bank issues a certificate of deposit, payable on its return properly indorsed, it is liable thereon to a bona fide holder to whom it was transferred seven years after its issue, notwithstanding a payment thereof to the original holder. Such certificate is not dishonored until presented. National Bank of Fort Edward v. The Washington County National Bqnk, 5 Hun., 605. Where a cashier, in payment of his individual indebtedness, gives his creditor a cashier's draft drawn by himself on his bank's correspondent, and the same is received in good faith by the creditor, with no knowledge or notice that the draft is drawn fraudulently, and the same is paid by the correspondent to the creditor, the bank can not recover from the creditor the money so paid. Goshen National Bank v. State, 36 N. E., 316. A bank is bound by the act of its cashier in drawing checks in its name, though with the'intent of embezzling the proceeds, and payment of the checks by the drawee is binding on the bank. Phillips v. Mercantile National Bank of the City of New York, 35 N. E., 982. Checks drawn by the cashier of a bank, payable to fictitious persons, whose names he indorses thereon, are in effect payable to bearer, and the payment of such checks by the drawee is binding on the bank, as, in transmitting them made and indorsed, the bank is so far concluded by his acts as to be estopped from denying their validity. Ib. The fact that the payees in the checks, whose names were indorsed thereon by the cashier, were customers of the bank, does not vary the rule applicable to fictitious payees, where the cashier did not intend to deliver the paper to the customers, as the fictitiousness of the maker's direction to pay does not depend upon the identification of tho name of the payee with some existing person, but upon the intention underlying the act of the maker in inserting the name. Ib. A settlement of a claim against a bank made by a director who had been specially delegated by the bank to take charge of the matter, and who acted under the direct advice of the president of the bank, is binding on the bank. Waxahachie National Bank v. Vickeryp26S. W., 876. Where one pays a debt due by him to a bank upon the demand of an officer thereof, whom he finds employed in its business, to said officer, over its counter, without knowledge that the officer's authority is so limited that he is not authorized to receive the money, it is a payment to the bank, and the latter is bound thereby. The East Itiver National Bank, v. Gove, 57 N. Y., 597. 90 REPORT OF THE COMPTROLLER OF THE CURRENCY. LIABILITY OF BANK—Continued. 14. When a bill of exchange, payable at , was sent to a bank for collection, and the bank treating* it as a bank check, and not entitled to days of grace, presented it for payment, and had it protested, etc., on the day of its maturity, without days of grace, by means of which the indorser was discharged, and it was in evidence that the bank was notified by the indorser at the time that he claimed the paper to have days grace: Held, That the bank was liable to the person who deposited the paper for collection for damages for its negligence in not presenting the check, as required by law, and causing notice of its nonpayment to be given to the indorser. The Georgia National Bank v. Henderson, 46 Ga., 487. 15. A national bank, by its cashier, issued its certificate of deposit for money to be paid on a note of the depositor or lent for his use: Held, That the bank was liable thereon, although the cashier embezzled much more of the bank's funds. First National Bank of Monmouth v. Brooks, 22 III. App., 238; 3 N B. C., 3S7. 16. Upon the deposit in a city bank of funds for transmission to the credit of a country bank, for the use of the depositor, the city bank becomes a trustee of tiie depositor; and, where the country bank, by reason of its failure before the deposit was made, becomes unable to receive the deposit, the city bank is liable to the depositor, in an action for money had and received, for the amount of the deposit. Union Stock Yards National Bank v. Dvmond, 87 N. F., 803 ; Lfumond v. Merchants' National Bank, Id., 864. 17. The fact that the city bank deposited the money with another city bank, which was the correspondent of the country bank, does not exempt the former bank from such liability, where the depositor was unacquainted with the custom of the banks in making such deposits, and did not consent thereto. 11). 18. Nor will the city bank in which the money was finally deposited be liable therefor, at the suit of the depositor, where the money was left with it with instructions to credit it to the country bank generally, without any intimation that it was to be credited to that bank as the money of the depositor. Ib. 19. The First National Bank of Decatur having advanced a sum of money to the owner of a lot of whisky, the latter employed the bank to ship the whisky for him to New York to be sold, and out of the proceeds the bank was to retain the money advanced and a reasonable commission for shipping and selling. The whisky was shipped and sold accordingly, and the proceeds received by the hank: Held, That the bank was liable to the owner of the whisky for the money so received, and this independently of the question whether national banks are, by their charters, authorized to sell produce on commission. First National Bank of Decatur v. Priest, 50 III., 321. 20. An embarrassed bank which organized a trust and safe-deposit company to aid in its struggle for existence held liable for funds abstracted from the trust company and used for the bank, on the ground that the organization and use made of the former was a fraud on the public. Fisher v. Adams, 63 Fed. Rep., 674. 21. A national bank is liable for fraudulent representations made by it through its cashier to another bank as to the financial responsibility of a customer. Nevada Bank of San Francisco v. Portland National Bank, 59 Fed. Rep., 338. 22. Representations by one bank to another that a certain business corporation u i s prosperous," " well organized," " doing1 a large business/' and are "valued customers of ours;" that an investigation of its business and responsibility had been made by the vice-president and cashier of the bank, coupled with the transmission of an-annual statement, which (as alleged) is known to be false—are representations of fact, and not of opinion, and are actionable if fraudulently made. Ib. 23. Fraudulent representations as to the financial responsibility of another for the purpose of procuring him credit are actionable, though containing no statement as to the amount of credit it is safe to extend. Ib. 24. False representations concerning the financial responsibility of another, made, for the purpose of procuring him credit, negligently and carelessly, without investigation, when investigation would disclose their falsity, imply a fraudulent intent and are actionable. Ib. 25. The signature of a bank cashier, with his official title appended, to a letter bearing the bank's name at the head, is the signature of the bank, within the meaning of a statute providing against liability for representations as to the credit, skill, or character of another, unless there is a memorandum thereof in writing, signed by the u party to be charged." Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 91 LIABILITY OF BANK—Continued. 26. A bill of exchange, drawn on defendant, was sent by plaintiff to a bank fo1r collection, and on presentation to defendant was accepted by its treasure and redelivered to the bank. On the same day defendant's treasure learned that the drawer of the bill had failed two days before. On the next day defendant's treasurer applied to the bank's cashier for leave to revoke the acceptance and erase the indorsement, which the cashier declined to do, and notice was thereupon given the bank to refuse payment of the bill. At the time of the acceptance the drawer had no funds in defendant's hands, but was indebted to it. No fraud was shown on plaintiff's part: Held, That the .defendant was bound by its acceptance. Trent Title Company v. Fort Dearborn National Bank of Chicago. 27. The general rule is that where a bank delivers a note or bill to a notary public for demand, protest, and notice, it will not be liable for the default of the latter. Wood Biver Bank v. First National Bank of Omaha, 55 N. W., 239; 86 Neb., 744. 28. But where such bill remains in the bank to be protested for nonpayment by the president and manager thereof, a notary public, and who, although aware of the instructions to the contrary, delays noting for protest or giving notice, in consequence of which the indorsers are discharged, such notary will be held to be the agent of the bank and the latter will be liable for his negligence. Ib. LIEN: See Preferred claims. 1. An association has equitable lien upon dividends declared for any just debt due to it from the shareholders. Hager v. Union National Bank, 6J Me., 509. 2. Bank can not acquire a- lien on its own stock held by its debtors, even if its by-laws are framed with tnat intention. Ballard v. Bank, 18 Wall., 589. 3. Loans by bank to stockholder do not give lien to bank on his stock. Ib.; BankY. Lamer, 11 Wall., 369. 4. A national bank organized under the law of 1864, can not, even by specific provisions for the purpose in its articles of association and in its by-laws, acquire a lien on its own stock held by its debtor. Delaware, Lackawanna and Western Railroad Company v. Oxford Iron Company, 38 N. J. Fq., 340; 3 N. B. C, 582. 5. When by general law a lien is given to a corporation upon the stock of a stockholder in the corporation for any indebtedness owing by him to it, that lien is valid and enforceable against all the world; and a sale of the stockholder's stock to a person ignorant of the lien will not discharge it and thus authorize the purchaser to demand and receive a transfer of it so discharged. Hammond v. Hastings, 134 U. 8., 401. 6. A banker's lien for the amount of the balance of its general account does not exist when the securities have been deposited Avith the bank for a special purpose, or for the payment of a particular loan. Armstrong v. Chemical National Bank, 41 Fed. Eep., 234. 7. Rev. St., sec. 5242, which invalidates all transfers of the notes, bonds, or bills of exchange of a, national bank after the commission of an act of insolvency with a view to the preference of one creditor over another, does not prohibit a bank which has in good faith accepted the draft of a national bank the day before the latter's insolvency, and afterward paid the same, from applying the proceeds of collections made by it on paper in its hands belonging to the insolvent bank, to the payment of the draft, since its lien on such collections runs from the date of the acceptance. In re Armstrong, 41 Fed. Hep., 881. LIQUIDATION : 1. A national bank may go into voluntary liquidation and be closed by a vote of two-thirds of its shareholders, although contrary to the wishes and against the interests of the remainder. Watkins v. National Bank of Lawrence, 32 P. 914. 2. A national bank which has gone into voluntary liquidation will continue to exist as a body corporate for the purpose of suing and being sued until its affairs are completely settled. National Bank v. Insurance Company, 104 U. S., 54; Ordway v. Central National Bank, 47 Aid., 217. 3. After an association goes into liquidation there is no authority on the part of its officers to transact any business in its name so as to bind its .shareholders, except that which is implied in the duty of liquidation, unless such authority has been expressly conferred by the shareholders, llichmond v. Irons, 121 U. S., 27. 92 REPORT OF THE COMPTROLLER OF THE CURRENCY. LIQUIDATION—Continued. 4. Where a bank has gone into voluntary liquidation and the Comptroller has no power to appoint a receiver, a proper court, in a case where such action is necessary to protect the interests of a creditor, will appoint a receiver for it. Irons v. Manufacturers7 National Bank, 6 Biss., 301. 5. The Comptroller may appoint a receiver for a bank that has voted to go into voluntary liquidation. Washington National Bank of Tacoma v. Eckels, 57 Fed. Hep., 870. 6. Where a national bank is insolvent and in process of voluntary liquidation, and its affairs are being greatly mismanaged by its managing agents, to the injury of its creditors and stockholders, and some of the creditors and stockholders are being favored to the jnjury of others, a receiver may be appointed in such a case, even where the bank only has been made a defendant. Elwood v. First National Bank, 21 Kans., 673. 7. Without express authority from the shareholders in a national bank its officers, after the bank goes into liquidation, can only bind them by acts implied by the duty of liquidation. II). 8. Creditors of a national bank who, after it suspends payment and goes into voluntary liquidation, receive in settlement of their claims bills receivable, indorsed or guaranteed in the name of the bank by its president, can not claim as creditors against the shareholders, as the original debt is paid. Ib. 9. A national bank went into voluntary liquidation. All the stockholders but one united in organizing a new national bank under a different name. He knew that the greater part of the assets were sold to the new bank, and he accepted dividends from nearly all such assets: Reid (1) That he had no right to share in the earnings of the new bank; (2) the old bank had no good will to sell independent of the value of the unexpired lease of its banking house. First National Bank of Centralia v. Marshall, 26 III. App.t 440; 3 N. B. C, 401. LOANS: 1. Section 5200, Rev. St., which provides that the total liabilities to any association of any person, etc., shall not exceed one-tenth part of the capital stock paid in, was intended only for the guidance of the association, and, though its franchises may be liable to forfeiture for violation of the law, the association may recover of the borrower the full amount of the loan. Gold Mining Company v. Rocky Mountain National Bank, 96 U. S.f 640; O'Hare v. Second National Bank of Titusville, 77 Penn. St., 96; Shoemaker v. The National Mechanics7 Bank, 2 Job., U. S., 416; Stewart v. National Union Bank of Maryland, 2 Alb., V. S.t 424. 2. The prohibition of Rev. St., sec. 5200, that the total liabilities of any national bank to any person, company, corporation, or firm for money borrowed, including in them "the liabilities of the several members thereof shall at no time exceed one-tenth part" of the capital stock actually paid in, does not prevent a bank from recovering of a person to whom it has lent a sum greater than 10 per cent of its capital stock, the excess of the loan over such limit. Corcoran v. Batchelder 147^ Mass., 541; 3 N. B. C, 491. 3. A note is not illegal because at the time it was discounted by the association the maker was indebted to the association in a sum equal to more than onetenth part of its capital. O'Hare v. Second National Bank of Titusville, 77 Penn. St., 96. 4. And a court of equity will not enjoin an association, at the instance of the borrower, from transferring to innocent third persons notes and securities, on the ground that the notes represent part of a loan made in excess of 10 per cent of the capital of the association. Elder v. First National Bank of Ottawa, 12 Kans., 238. 5. Where a State bank makes a loan to one person of an amount in excess of onetenth part of its capital, and is afterward converted into a national bank, it may, after conversion, extend the time for payment of such loan without violating sec. 5200, Rev. St. Allen v. The First National Bank of Xenia, 23 Ohio St., 97. 6. Defendant sued by national bank for moneys it loaned him can not set up as bar that they exceed one-tenth of capital paid in. Gold Mining Co. v. National Bank, supra. 7. Placing by one bank of its funds on permanent deposit with another is a loan within this enactment. Bank v. Lanier, 11 Wall., 369. 8. Rev. St., sec. 5200, providing that the amount for which any one individual or firm shall be indebted to a national bank shall not exceed a certain sum, when such a bank violates the provision by lending to one person an amount in excess of the limit, such person can not set up the violation of REPORT OF THE COMPTROLLER OF THE CURRENCY. 93 LOANS—Continued. the statute as a defense to his liability on the note. If a penalty is to be enforced against the bank, it can be done only at the instance of the Government. A contract entered into by the bank in violation of this section is not void. Wyman v. Citizens' Nat. Bank of Faribault, 29 Fed. Hep., 734. 9. Rev. St., sec. 5202, providing that national banks shall not contract liabilities in excess of their paid-up capital stock, except upon notes of circulation, accounts for deposits, etc., does not intend that such items of liability shall be excluded in determining whether the indebtedness of a bank exceeds its paid-up capital stock at the time it incurs a liability as guarantor. Weber et al. v. Spokane Nat. Bank, 50 Fed. liep., 735. 10. In an action against a national bank and its receiver on a promissory note, defendants may avail themselves of the defense that the note was executed i^ violation of Rev. St., sec. 5202, providing that national banks shall not contract liabilities in excess of their raaid-up capital stock. The note being void as to the bank, it is not estopped to set up the defense in question. Ib. 11. A business man accepting the note of a national bank is presumed to know the financial condition of the bank, and that at the time of the execution of the note it had already incurred indebtedness in excess of the limit prescribed by law. Ib. 12. Loans by a national bank to an individual or company in excess of one-tenth of its paid-up capital are not void. The loan may be collected, though the bank is exposed to forfeiture of its franchise and the officers participating are declared personally liable. Stewart v. The National Union Bank of Maryland, 2 Abb. U S., 424; 1 N. B. C, 175. MANDAMUS: 1. Mandamus is the proper remedy when a mandate of the U. S. Supreme Court has been disregarded. In re City National Bank of Fort Worth, 153 U. S., 246. 2. Mandamus does not lie to compel the officers of a private corporation to issue stock to a person entitled thereto. State v. Carpenter, 37 N. E.} 261. 3. When the officers of a corporation refuse, on demand, to issue a certificate of stock to a person entitled thereto, the remedy is by action for damages, or to enforce the issue and delivery of such certificate in equity, rather than by mandamus. Ib. MARRIED WOMEN: 1. A national banking association may take as security for a loan the indorsement of a married woman, charging her separate estate. Such security is to be treated as personal .security, within the meaning of the banking law, and not as a mortgage. Third National Bank v. Blake, 73 N. Y., 260. 2. A married woman in the District of Columbia may become a holder of stock in a national banking association and assume all the liabilities of such a shareholder, although the consideration may have proceeded wholly from the husband. Eeyserv. Hitz, 133 U. S., 138. 3. In Vermont a married woman is competent to become a stockholder in a corporation and to contract to charge her separate property with the payment of any liability which is implied from entering into that relation. Witters v. Sowles, 38 Fed. Rep., 700. MORTGAGE : See Real estate. A national bank has a right to take a chattel mortgage for the purpose of securing a previously contracted debt, and to enforce the same. Spafford v. The First National Bank of Tama City, 37 Iowa, 181; 1 N. B. C, 486. NOTARY PUBLIC: Before the passage of the act of February 26,1881, notaries public in the several States had no authority to administer to officers of national banking associations the oath required by sec. 5211, Rev. St., and an indictment against an officer of a national bank under sec. 5292 for a willfully false declaration or statement in a report made under sec. 5211, so verified, would not lie.. United States v. Curtis, 107 U. S., 671; 3 N. B. C, 91. NOTICE: 1. Where the cashier of a bank conspires with a third person to sell worthless property to defendant at par, in order that the proceeds may be applied to the payment of a debt due the bank, the bank is chargeable with the knowledge that the cashier had of such conspiracy. Merchants' National Bank v. Tracy, 29 N. Y. S., 77. 94 REPORT OF THE COMPTROLLER OF THE CURRENCY. NOTICE—Continued. 2. In an action on a check there was evidence that defendant gave the check, postdated, to one G. for the price of stock of a corporation, under an agreement that G. should not use the check until defendant had further considered the purchase of the stock; that defendant was induced to give the check by representations of G. as to the prosperity of the company, which was in fact insolvent; that the cashier of plaintiff bank knew of the negotiations between defendant and G.; that G. immediately procured the check to be discounted by plaintiff and placed the proceeds to the credit of the company, which was largely indebted to plaintiff: Held, That a finding that plaintiff was not a bona fide holder for value was sustained by the evidence, though plaintiff's cashier denied that he knew of the negotiations between defendant and G. Ib. 3. A bank discounting a note before its maturity is not chargeable with the knowledge of illegality or want of consideration acquired by one of its directors in other than his official capacity, such director not having acted with the board in making the discount. First National Bank of Hightstownv. Christopher, 40 N. J. Lair, 435. 4. A director offering a note, of which he is the owner, to the bank of which he is a director for discount, is regarded in the transaction as a stranger, and the bank is not chargeable with the knowledge of such director of an infirmity or defect in the consideration of the note. Ib. 5. P. was a member of the firm of M. & J. S. P., and also a director of the bank of H. He obtained at the bank the discount of a note belonging to the firm, which had been got of the maker by fraud. He had notice, as a member of the firm, of the fraud before the note was offered for discount, but did not communicate his knowledge to any of the officers of the bank : Held, That the knowledge of P. was not, constructively, notice to the bank. Ib. 6. The cashier of a bank was also the secretary of another corporation, and, while working in the interest of the latter, sold stock therein, taking the purchaser's note therefor, which note was afterward discounted by the bank: Held, That the bank was not affected with its cashiers knowledge as to the value of the stock sold, obtained through his connection with the other corporation. Bent on v. German- American National Bank, 26 S. W., 975. 7. A certificate of deposit with provision that, "This deposit not subject to check; with interest at six per cent if left six months; no interest after six months" is overdue, so as to charge purchaser with notice of equities after six months. Kirkuood v. First National Bayik, 58 N. TV., 1016; Same v. Exchange National Bank, Ib., 1135. 8. The form of the drait in such case does not convey notice to the creditor that the funds of the bank are being used to pay the private debt of the cashier. Goshen National Bank\. Stale, 86 N. E., 316. 9. Where grantor states to director of bank that he is willing to convey a half interest in certain land to the bank's president, with the understanding that such president was to deed the whole interest to the bank, and the president of the bank was to pay him by giving him credit upon notes then running against him in the bank : Held, Not to amount to notice to the director that the grantor intends to retain a vendor's lien, but rather imports a notice that no such lien is to be retained. First Nat. Bank of Sheffield etal. v. Tompkins, 57 Fed. Bcp., 20. 10. An indorsement upon negotiable paper, "For collection; pay to the order of A. B.," is notice to all purchasers that the indorser is entitled to the proceeds. Bank of the Metropolis v. First Nat. Bank of Jersey City, 19 Fed. Hep., 301. 11. A bank is charged with notice of letters duly mailed to it and received by the general bookkeeper, whose duty it is to open and distribute mail matter, although he conceals such letters to hide certain irregularities in his office, and thereby prevents their coming into the hands of the other bank officers. First Nai'l Bank of Evansville v. Fourth Nat'l Bank of Louisville, 56 Ftd. fiep., 966. 12. Where a bank, in the absence of a director by whom a note has been offered for discount, accepts it? and accepts a note payable to him and indorsed to it as collateral, its rights are not affected by buch director's knowledge of illegality in the inception of the note accepted as security. Third NaVl Bank v. Harrison et al., 10 Fed. Hep., 243. 13. An indorsee for value of a promissory note is presumed, in the absence of evidence to the contrary, to have taken it without notice of equities subsisting between the maker and payee. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 95 NOTICE—Continued. 14. An agent cannot lawfully act for his principal and for himself in matters in which they have adverse interests, and every person dealing with an agent who is acting for himself as well as for his principal, in such matters, is put upon inquiry as to authority and good faith of the agent. Moores v. Citizens7 National Bank of Piqua, Ohio, 15 Fed Rep., 141. 15. The plaintiff contracted to loan money to M, cashier of the defendant bank, for his individual uses, on his representations that he held a number of shares of stock of said bank, and his agreement to transfer a certain number thereof to the plaintiff as security for the loan. In pursuance of said agreement, M afterward produced a certificate of stock bearing the genuine signatures of the president and of himself as cashier, on the faith of which plaintiff loaned him the money. In fact, M had previously hypothecated and transferred to others all the stock of said bank which he had held, and the certificate was fraudulently issued, without any transfer of stock, and without any knowledge of any of the officers of the bank except himself, he having used for that purpose a certificate left with him for use, as occasion might require, signed by the president in blank. The plaintiff had no knowledge of tho fraud, and believed that the certificate had been issued in good faith and by competent authority, but knew that the transaction was for the benefit of M: Held, That the knowledge that M was acting for himself as well as for the bank in issuing the certificate put the plaintiff upon inquiry as to the authority and good faith of M, and having failed to make it, the bank is not liable on the certificate. II). 16. Where an officer of a bank is dealing with it in his individual interest, the bank is not chargeable with his uncommunicated knowledge of facts derogatory to his title to the paper which is the subject of the transaction. Merchants7 National Bank of Kansas City v. Lovitl, Mo. 17. Where the president acts for the bank in accepting for discount paper offered by another officer, the bank is. not affected by any knowledge of the latter regarding such paper, since he is acting in the transaction in his own behalf. Ib. 18. The fact that the discount was calculated by the officer offering the paper would not be material*in such case. Ib. 19. The president of plaintiff bank, without consideration, obtained defendant's note as a personal loan, and without disclosing the want of consideration procured its discount by plaintiff's cashier: Held, That, though the cashier was without authority to discount paper, his agency in discounting the note, not having been disavowed by plaintiff, it could recover on the note, as the president's knowledge of its infirmity could not be imputed to it. First National Bank of Grafton v. Babbidge et al., 86 N. E.y 462; 160 Mass., 563. OATH OF DIRECTOR: 1. By the provisions of sec. 44 of the national-banking act, upon conversion of a.State to a national bank, all the directors of the former become those of the latter until an election or an appointment by the national bank. Semble, that no oath is required from these ad interim directors, the oath prescribed by sec. 9 of the aforesaid act being designated for those regularly elected by the national bank, but assuming its necessity, a majority of those who were the directors of the State bank before its conversion is necessary to make a quorum of the board of the national bank. Lockivoodv. The American National Bank, 911. I., 308; IN. B. C, 895. 2. In all cases where an act is to be done by a corporate body or a part of a corporate body, and the number is definite, a majority of the whole number is necessary to constitute a legal meeting, although at a legal meeting where a quorum is present a majority of those present may act. Ib. 3. Hence, a by-law adopted at a meeting of six ad interim directors of a national bank, which had twelve directors before its conversion, is invalid, because not adopted by a majority or quorum of the board. Ib. 4. Prior to the act of February 26,1881, a notary public holding his commission under a State had no authority to administer the oath required by sec. 5211, Rev- St.; and therefore a cashier who made oath before such notary to a false statement of the condition of his association was not guilty of perjury. United States v. Curtis, 107 U. S., 671. OFFICERS : A. In general— 1. Directors of national-banking associations may remove the president, both under the law of Congress and the articles of association, where the latter so 96 REPORT OF THE COMPTROLLER OF THE CURRENCY. OFFICERS—Continued. provide. The power exists, though the association has adopted no by-laws. Taylor v. Button, 43 Barb., 195. 2. The officers of a national-hanking association can hold their positions only by the tenure specified in sec. 5136, Rev. St., viz, the pleasure of the board of directors. Harrington v. First National Bank of Chittenango, 1 N. B. C.,.760; 1 Thomp. $ Cook, 361; Taylor v. Button, supra. 3. An officer may, in the ordinary course of business, borrow money of the association. Blaifv. JHrst National Bank of Mansfield, 10 Chicago Legal News. 84; 2 N. B. C, 173. 4. The law providing no particular mode by which a director is to resign from the board, an oral resignation would be as good as any. Movius v. Lee, 30 Fed. Rep., 298. 5. The president being the head of the board, a resignation to him is a resignation to the board. Ib. 6. A director is not prohibited from resigning during the year. The apparent purpose of the provision in regard to the term of office is to make it conform to the time of the new election, and not to absolutely require every director to serve the full term. 1b. 7. The borrowing of money by a bank, though not illegal, is so much out of the course of ordinary and legitimate banking business as to require those making the loan to see to it that the officer or agent acting for the bank had special authority to borrow money. Western National Bank v. Armstrong, 152 U. S., 346. 8. A national bank can not hire one of its officers for a specified time. Harrington v. First National Bank of Chittenango, supra. 9. Knowledge, without objection, by the directors of a bank that one is acting in its employ does not ratify the details of a contract for his employment by the president unless they know of such details. Ib. 10. Creditor of insolvent national bank can not sue to enforce personal liability of officers and directors for violation of national-bank laws. The receiver alone can maintain the action. Bailey v. Mosher, 63 Fed. Rep., 488. 11. Directors of a national bank are " officers," within the meaning of Rev. St., sec. 5209, which makes it a misdemeanor for bank officers to make false entries in any book, report, or statement of the bank, with intent to deceive any of its officers. United States v. Means et al., 42 Fed. Hep., 599. 12. The rule that where a bank officer is dealing with the bank on his own account his knowledge will not be imputed to the bank, does not apply where such officer is the sole representative of the bank in the transaction. First National Bank of Elaine v. Blake, 60 Fed. Rep., 78. B. Cashier— 13. It is within scope of general authority of cashier to receive offers for purchase of securities held by the bank, and to state whether or not bank owns securities in its possession. Xenia Bank v. Stewart etal., 114 U. S., 221. 14. If a cashier, without authority from the directors so to do, makes a loan in excess of one-tenth of the capital of the association, he will be liable, in case of loss, for the amount of the excess. Second National Bank of Oswego v. Burt, 93 N. Y., 233. 15. Under sec. 5136 of the national-bank act, the cashier of a national bank has no power to bind it to pay the draft of a third person on one of its customers to be drawn at a future day, when it expects to have a deposit from him sufficient to cover it, and no action lies against the bank for its refusal to pay such a draft. FJannagan et al. v. California National Bank etal., 56 Fed. Rep., 959. 16. Ordinarily the cashier of a bank has no authority to discharge its debtors without payment, or to bind the bank by an agreement that a surety should not be called upon to pay a note he had signed, or that he would have no further trouble from it. Cochecho National Bank v. Baskell et al., 51 N. B., 116. 17. It is within the general authority of the cashier of a bank to sign, in its behalf, a blank transfer upon a certificate of stock in the name of the bank, held by it as collateral security for a loan, and deliver the certificate to the pledgor on payment of the loan. Matthews v. The Massachusetts National Bank, 1 Holmes, 396. 18. The cashier of an incorporated bank is the general executive officer to manage its concerns in all things not peculiarly committed to the directors; he is agent of the corporation, not of the directors. Bissell v. The First National Bank of Franklin, 69 Fa. St., 415. REPORT OF THE COMPTROLLER OF THE CURRENCY. 97 OFFICERS—Continued. 19. The cashier or other executive officer of a national bank has not, in the absence of special authority from the directors, or of a usage or practice so to do, power to receive, on behalf of the bank, property for safe-keeping. First National Bank of Lyons v, Ocean National Bank, appellant, 60 N. T., 278; 1 N. B. C., 728. 20. The cashier of a bank, as one of its financial officers, in its daily and ordinary business transactions, has authority to certify checks drawn on the bank by its customers in all cases where any officer could do the same and bind the bank. The Clarke National Bank v. The Bank of Albion, impleaded, etc.f 52 Barb., 592. 21. This authority is regarded as general, growing out of a cashier's position in the bank; and persons dealing with the bank are not, in any way, affected or bound by the special restrictions and limitations imposed upon him by the corporation, whose agent he is. 1b. 22. A cashier has no power, however, to make the certification unless he has the funds of the drawer in hand to meet the check. This limitation on his general authority is, in the law, presumed to bo known by all the bank's customers and others who act upon the statements and representations of its agent. 1b. 23. Neither has a cashier power, as the agent of the bank, to certify a check until on or after the day the same is made payable. Ib. 24. A bank may sue a payee on a note payable to its cashier, alleging either that the promise was made to the cashier for it, or that the cashier's name was used by adoption for that of the bank. Darby v. Berney National Bank, 11 So., 881; 97 Ala., 643. 25. The cashier of a bank kept an account with the defendants, who were brokers, and bought and sold stocks for him, and from time to time the defendants received checks of his bank upon another bank, its correspondent, drawn by him in his official capacity, and collected them from the bank upon which they were drawn, and applied the avails to the cashier's individual account. In an action brought by a receiver of the bank of the cashier to recover of defendants the amount of the checks received by them: Held, The checks being made payable to the order of the defendants, for the cashier's individual use, the defendants took them under an obligation to ascertain at their peril that the cashier had authority outside of his ordinary official authority to make the checks, and could not assume that he was acting within the scope of his official duties. A purchaser of commercial paper made by an agent can not acquire any title to it as against the principal, unless he can show that it was made by the agent upon due authorization; and when he knows that the agent has made it in the naine of the principal for his own use he must be prepared to show that special authority in that behalf was delegated by the principal, and can not rely upon the implied or ostensible authority of the agent to make such paper in the ordinary business of the principal. Anderson v. Kissam et al.} 35 Fed. Rep., 699. 26. It having been shown that the cashier had no authority to make the checks, and that the checks were paid by the bank upon which they were drawn, the defendants were prima facie liable in action of trover for the face amount of the checks. Ib. 27. The circumstance that the cashier clandestinely deposited funds with the bank upon which the checks were drawn to the credit of his own bank, which deposits were credited to his own bank, is not competent in mitigation of damages. When credited to the cashier's bank the deposits became the property of that bank as .against the cashier and the defendants. The case for the plaintiff was complete when it appeared that the checks had been paid by the bank upon which they were drawn out of funds standing to the credit of the cashier's bank; the plaintiff was then entitled to recover the full amount, and it was then incumbent upon the defendants, if they sought to reduce the damages, to show that, notwithstanding the wrongful conversion of the paper, the cashier's bank did not suffer loss. Ib. 28. The fact that some of the moneys thus clandestinely deposited by the cashier were paid in by the defendants, at his request, does not affect the defendants' liability, or go in mitigation of damages. Ib. 29. Evidence of a usage that bankers and brokers regard payments made by means of such checks as ordinary payments of cash made by individuals for their own account is not admissible. Ib, 8182 CUR 7 98 REPORT OF THE COMPTROLLER OF THE CURRENCY. OFFICERS—Con fcinued. 30. Where the cashier of a bank conceals the defalcation of another officer the statute of limitations will not begin to run in favor of such cashier or his estate until such defalcation is disclosed to the directors or stockholders. Vance v. Mottley, 21 S. TV., 593; 92 Term., 810. 31. A cashier is bound to exercise reasonable skill, care, and diligence in the discharge of his duties, and if he fails so to do, and the bank suffer damage in consequence, hois liable therefor. Ib. 32. He is liable for loss on loans made by him through want of care, diligence, and reasonable skill. Ib. 33. Though the act of the cashier which occasions the loss is a tort, the tort may be waived and an action for value maintained against him or his estate. Ib. C.—Directors. 34. The degree of care required of directors of corporations depends upon the subject to which it is to be applied, and each case is to be determined in view of all the circumstances. Briggs v. Spaulding, 141 U. S., 132. 35. Directors of a corporation are not insurers of the fidelity of the agents whom they appoint, who become by such appointment agents of the corporation; nor can they be held responsible for losses resulting from the wrongful acts or omissions of other directors or agents, unless the loss is a consequence of their own neglect of duty. Ib. 36. A director of a national bank is not precluded from resignation within the vcar by the provision in Rev. St., sec. 5145, that when elected he shall hold office for one year, and until his successor is elected. Ib. 37. Persons who are elected into a board of directors of a national bank, about which there is no reason to suppose anything wrong, but which becomes bankrupt in ninety da^ s after their election, are not to be held personally responsible to the bank because they did not compel an investigation or personally conduct an examination.' Ib. 38. Directors of a national bank must exercise ordinary care and prudence in the administration of the affairs of a bank, and this includes something more than officiating as figureheads. They are entitled under the law to commit the banking business, as defined, to their duly authorized officers; but this docs not absolve them from the duty of reasonable supervision, nor ought they to be permitted to be shielded from liability because of want of knowledge of wrongdoing, if that ignorance is the result of gross inattention. Ib. 39. If a director of a national bank is seriously ill it is within the power of the other directors to give him leave of absence for a term of one year, instead of requiring him to resign, and if frauds are committed during his absence and without his knowledge, whereby the bank suffers loss, he is not responsible for them. Ib. 40. A notary of the city of Alexandria is authorized to administer the oath required by law to be taken by a director of the First National Bank of that city as to bis ownership of the capital stock of such bank. United Stales v. Neale, 14 Fed. h'rp., 767. 41. When the oath is taken and subscribed by the accused it is complete, so far as the accused can make it, and if the notary, in certifying the fact of the oath having been taken, erroneously used the term "county" instead of ''city/ 7 and used the seal of said bank instead of his own official seal, such error did not affect th^ oath taken. Ib. 42. If accused took an oath in which he stated that he was the bona fide owner in his own right of* the number of shares of stock then standing in his name on the books of the bank, and that the said shares were not hypothecated or in any way pledged as security for any loan or debt; and if he took it willfully, and not believing that he was stating the truth, it is perjury, if in point of fact he was not the owner of said stock or had pledged the same for a loan or debt. Ib. 43. An irrevocable power of attorney given by the accused, wherein he constituted and appointed a third party his attorney for the purposes therein set forth, being a general power covering any indebtedness of accused to said third party, is a pledge of the shares of stock owned by accused mentioned therein as long as there was any debt due by the accused to such third party. Ib. 44. Under the laws of Vermont an action against a director of a national bank for negligent performance of duty in not requiring a bond fro n the cashier, and otherwise mismanaging the affairs of the bank, abates by his death, and can not be revived against his administrator. Witters, Receiver, etc., v. Foster, administrator, etc., 26 Fed. Hep., 737. REPORT OF THE COMPTROLLER OF THE CURRENCY. 99 OFFICERS—Continued. 45. A bill brought to charge the directors .of an insolvent national bank with the amount of losses caused by the bank's failure, alleged that one of the defendants sold and transferred his stock on the day named, but the evidence showed that defendant had not paid anything for the stock, but delivered it to a messenger of another one of the defendant a, from whom he had agreed to purchase it, and that such defendant then sold and indorsed the stock to a third party, as it was agreed he might do if he so desired. Plaintiff moved to amend the bill to conform to the proofs, and make it allege that the transfer was merely formal: Held, Unnecessary. Movius, Receiver, etc., v. Lee et al., 80 Fed. Hep., 208. 46. A receiver of an insolvent nationalbank, in his own name or m the name of the bank, may enforce against the directors, for the benefit of the stockholders, depositors, and other creditors of the bank, any right or claim resting upon the nonperformance or negligent performance of their duties that the bank itself could have enforced. Ib. 47. A director of a national bank who, before the expiration of his term, sells his stock, and orally resigns his office to the president, in his place of president at the bank, and afterwards receives the money for his stock, prior to the sustaining of losses by the bank, ceases to be a director, and can not be held liable for subsequent losses caused by the negligence of the directors. Ib. 48. The president of a national bank, being in failing health, was anxious to resign his position, but, at a suggestion of a majority of the directors, consented to take a year's leave of absence, and during such absence, and without any fault on his own part, losses were sustained by the bank, and it became insolvent: Held, In a suit by the receiver to charge the directors with such losses, that he was not liable. Ib. 49. The directors of a national bank which has become insolvent by reason of losses caused by the discount, f. om time to time, of paper not properly secured, indorsed by a director who is a man of wealth, and the largest stockholder in the bank, and in whom the other directors have reason to place f onhdence, can not be held liable for the mere failure to discover the illegal transactions, and to prevent such director from continuing therein. Ib. 50. The officers of an insolvent national bank can not be held personally responsible to creditors for losses on loans and discounts made by them in good faith, and, as they thought at the time, for the best interests of the bank, merely because such loans and discounts appear to have been unwise and hazardous when looked back upon. Witters, Receiver, etc., v. Sowles et al., 31 Fed. Rep., 1. 51. Under Rev. St., sec. 5200, directors of a national bank, who make or assent to the making of a loan to any one person of a sum exceeding one-tenth of the capital stock of the bank, become personally and individually liable for all loss sustained thereby; but where the borrower, in such a case, is also one of the directors, he is not so liable, but simply as a debtor to the bank. Ib. 52. Bank directors can not be held personally liable for money paid out for dividends " to a greater amount than net profits after deducting losses and bad debts" (Rev. St., sec. 5204), because there were debts bad in fact, but supposed to be good, when the dividends were declared and paid. Bad judgment on the part of the directors, as to the condition of the assets, without bad faith, does not make them individually liable. Ib. 53. Directors of a national bank can not be held to the common-law liability for inattention to duty as directors in not preventing a hazardous, imprudent, and disastrous loan, if such loan was made by their associates, without their knowledge, connivance, or participation. Ib. 54.' Directors or the managing committee of a national bank may, in the honest exercise of official discretion, make loans or discounts for the actual or supposed benefit of the association, and, although the transaction may be injudicious aaid actually result in loss or damage to the bank, there is no criminal liability, so long as their acts are not in bad faith, for the purpose of personal gain or private advantage of the officials. United States v. Harper, 33 Fed. Rep., 471. 55. A national bank was organized with a capital of $60,000. The promoter of the bank took 380 shares of stock in his own name and procured the defendants to be directors as well as a person to be elected cashier by them. The directors were not acquainted with the banking business. The proposed cashier was known to the directors, at least by reputation, 100 REPORT OF THE COMPTROLLER OF THE CURRENCY. OFFICERS—Continued. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. and was supposed by them to be competent and trustworthy and of considerable experience in the business, and they had full confidence in his iutegrity and ability to take charge of the bank. The cashier acted as manager of the loan and discount business of the bank, and the directors merely as advisers, when applied to. The promoter of the bank knew, and the other stockholders were presumed to know, that the directors were wholly unused to the banking business: Held, Thai the directors were not liable for the acts of the cashier in violation of the banking law done without their paiticipation or knowledge. Clews et al. v. Bardon et al., 36 Fed. Rrp., 617. The cashier made loans, in excess of 10 per cent of the capital, to a manufacturing corporation supposed by him and by the public to be entirely solvent. None of the directors knew of the loans when made, but after a loan of $3, 000 in excess of the lawful limit had been made the cashier informed one of them of such loan, and was by him advised to call it iu when due; and thereafter such director's advice was asked as to a further discount to the same corporation, and he disapproved of it, and it was not made. Afterwards further loans or discounts were made to the same corporation without the knowledge or consent of any of the directors. About eight months after the bank commenced business, one or more of the debtors of the bank failed, and the directors thereupon took the active management into their own hands: Held, That none of the directors had knowingly violated, or knowingly permitted to be violated, any of the provisions of the banking law, and were not liable for such violation by the cashier. Ib. Under the banking law, the management of a national bank may be exercised either by the directors or by the cashier or other officers ; therefore the directors are not liable for the illegal or negligent acts of the cashier or other officers by whom the bank is managed, if they have no knowledge of such acts, and do not connive at them, or willfully shut their eyes and permit them. Ib. It seems that the liability of directors of a national bank is substantially the same under the banking law as at the common law. Ib. The personal liability of directors of a national bank for violation of Rev. St., sec. 5204, by declaring dividends in excess of net profits, and of sec. 5200, fo^ loaning to separate persons, firms, or corporations, amounts exceeding one-tenth of the capital stock, can not be enforced in an action at law. Welles v. Graves et al., 41 Fed. Rep., 459. If the personal liability imposed by Rev. St., sec. 5239, upon directors for violation of the provisions of the banking act, in favor of any one injured thereby, can be enforced without reference to wrhether the charter has beeu forfeited or not, it is not a penalty within the meaning of sec. 1047, limiting actions for penalties to five years. Ib. Directors of a national bank are " officers " within the meaning of Rev. St., sec. 5209, which makes it a misdemeanor for bank officers to make false entries in any book, report, or statement of the bank, with intent to deceive auy of its officers. United States v. Means et al., 42 Fed. Rep., 599. An act of Congress imposing a legal liability on the directors of a national bank for certain things, which they may do which shall result in an injury to the bank, its stockholders, or creditors, and making them liable for the amount of the damage is a remedial and not a penal statute, and therefore an action under it survives against the estate of a director. Stephens v. Overstolz, 43 Fed. Rep., 465. Where a bank director makes a wrongful loan of money from which loss occurs it is no defense to an action by the receiver of the bank against the director's estate that the insolvency of the person to whom the loan was made was not discovered until after the death of the director and the appointment of the receiver, Ib. An action by a receiver of a bank whose charter has been forfeited under above statute against a director is properly brought at law, there beiu^ no necessity for invoking the aid of a court of chancery either because of the nature of the issues involved, or to avoid a multiplicity of actions. Ib., 771. In such action plaintiff may state the aggregate amount of the excessive loans made to each party, and the damage resulting therefrom in each case, accompanying each allegation with an exhibit showing the dates and amounts of the several loans that go to make up the aggregate sum stated in the petition and is not compelled to declare in a separate count for each loan made. Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 101 OFFICERS—Continued. 66. Rev. St., sees. 5234 and 5239, prescribing the method of enforcing the liability of the directors of national banks for violation of the banking law, are exclusive of other remedies, and a creditor of an insolvent bank, for which a receiver has been appointed, can not sue its directors for the purpose of making them personally liable for the mismanagement of the bank. National Fxcli. Bank of Baltimore v. Peters et al., 44 Fed. Rep., 13. 67. A stockholder in an insolvent national bank for which a receiver has been appointed can not sue its directors to make them personally liable for the mismanagement of the bank, as the right of action is in the receiver and not in the individual stockholder. Howe v. Barney et al., 45 Fed. Rep., 668. 68. Defendants, aa directors, during a run on their bank posted conspicuously in the bank a notice, signed by them and addressed to the general public, representing the bank to be solvent. Plaintiff saw the notice, and, after a consultation with the directors, loaned the bank money, which was lost. Held, That the notice, not being addressed to plaintiff, could not entitle it to recover from the directors, under R. L. Vt., section 983, which provides that no action shall be brought to charge any person upon a representation concerning the credit of another, unless such representation is in writing, and signed by the party to be charged; and the fact that the notice was signed by defendants as directors would prevent a recovery from them individually, even if the notice were a sufficient representation in writing. First National Bank of Plattsburg v. Sowles et al., 46 Fed. Rep., 731. 69. The executive officers of an association can not bind it as a gratuitous bailee, unless they have a special authority from the board of directors so to do, or there exists a general custom or usage to that effect. First National Bank of Lyons v. Ocean National Bank, 60 N. Y., 278. 70. An action may be brought by a receiver of a national bank against its directors to recover damages sustained by their gross negligence. Brinckerlioff v. Boshvick, 88 N. Y., 52; 3 N. B. C, 591. 71. If the receiver is one of the directors, such action may be maintained by the stockholders, or, when they are numerous, by one or more in behalf of all. Ib. 72. It is not necessary to allege in the complaint a direction from the Comptroller, or a demand upon him and a refusal to direct the receiver to bring the action, or a refusal of the receiver to sue. II). 73. Such an action may be brought in a State court. Ib. 74. The bank, and the receiver, as such, are necessary parties defendant to such an action. Ib. 75. The board of directors of a bank is a body recognized by law, and to all purposes of dealing with others constitutes the corporation. Burrill v. President, Directors, etc., of the Naliant Bank, 2 Metcalf, 163. 76. A board of bank directors may delegate authority to a committee of its members to alienate or mortgage real estate; and such authority to convey real estate necessarily implies authority to execute proper instruments for that purpose, and to affix the corporate seal thereto. Ib. 77. Where a board of bank directors authorized a committee of its members " t o sell and transfer any estate owned by the bank," and the committee gave mortgage of the real estate of the bank to a creditor who had recovered judgment against the bank on its bills, and took from him at the same time a bond conditioned that he would not put those bills in circulation, and the board of directors accepted said bond and acted on it, and the cashier paid the costs of the suit in wThich said judgment was recovered, according to the agreement made between said creditor and said committee, it was held that whether the committee had or had not authority to mortgage the estate, the mortgage had been ratified by the board of directors. Ib. 78. A stockholder in a national bank can not maintain an action against the president and directors for their neglect and mismanagement of the affairs of the bank, whereby insolvency ensued and the stock became worthless. Comvay v. Halsey, 44 N. J. £., 462; 3 N. B. C, 571. 79. A judge who is a director of a national bank can not try a case to which it is a party, since, by Rev. St., sec. 5146, he must necessarily be interested as a stockholder. Williams v. City National Bank, 27 S. TV., 147. 80. The election of an individual as a director does not constitute him an agent of the corporation with authority to act separately and independently of his fellow-members. It is the board duly convened and acting as a unit 102 REPORT OF THE COMPTROLLER OF THE CURRENCY. OFFICERS—Continued. that is made the representative of the association. The assent or determination of the members of the board, acting separately and individually, ia not the assent of the corporation. The law proceeds upon the theory that the directors shall meet and counsel with each other, and that any determination affecting the association shall be arrived at and expressed only after a consultation at a meeting of the board, attended by at least a majority of its members. National Bank v. Drake, 35 Kans., 564. 81. Stockholders have no standing in court to interfere for the protection of their company until the board of directors of the company have neglected or refused an application to take the proper steps to protect the interests of the company. Bobbs v. Western National Bank, 8 Weekly Notes of Cases, 131; 2 N. B. C.,187. 82. It is a mistake to suppose that the directors of national banks cease to be such, and that their duty to the bank lapses, when an examiner is put in charge of its funds, properties, and books by the Comptroller. Robinson v. Hall ei al., V. >S. C. C. A., Oct., 1894. 83. They were, still, as much the advisors of the bank examiner as they had been of the cashier, notwithstanding they were not invested by law with the control over him, which they were empowered to exercise over the cashier. 1 b. 84. Their duty as directors does not cease until after the appointment of a receiver. 1b. 85. If directors were depositors, and knew two months or more before suspension that that event was inevitable, and that the bank could pay only a percentage of its deposits, and yet checked for the whole of their own balances, thereby diminishing the percentage to which other creditors would be entitled, they certainly defrauded to the extent of the diminution the creditors whose interest they were relied upon to protect, and should be held to strict accountability/ 1b. D. President— 86. The president of a national bank has no power inherent in his office to bind the bank on the execution of a note in its name; but power to do so may be conferred on him by the board of directors, either expressly by resolution to that effect, or by subsequent ratification, or by acquiescence in transactions of a similar nature of which the directors have notice. National Bank of Commerce v. Atkinson, 55 Fed. Rep., 465. 87. If a president of a bank exercised the functions of a cashier, and was the sole managing officer of the bank, he had authority to borrow money for the use of the bank in the regular course of its business. Simons et al. v. Fisher, 55 Fed. Rep., 905. 88. The retention by a national bank of the proceeds of the sale and guaranty of notes owned by the bank is a ratification of the president's act in such selling, whether he was authorized to execute the guaranty or not. Thomas v. City National Bank, 58 N. W., 943. 89. The president of a banking corporation has the power to employ counsel and manage the litigation o t a bank, in the absence of any order of the board of directors depriving him of such power. Citizen's National Bank of King man v. Berry et al., 37 P., 131. 90. The president of a national bank has no authority to subscribe money from the bank on condition that certain parties would erect a paper mill in the town. Robertson v. Buffalo County National Bank, 58 N. W., 715. 91. The authority of the president of a national bank to guaranty notes of third parties, held and sold by the bank, will be presumed in favor of a purchaser without notice to the contrary. Thomas v. City National Bank, 58 N. W., 943. 92. It is doubtful whether a general authority in the president of a bank to make discounts could empower him to make an arrangement under which the bank would surrender securities on receiving others, which, it was at the same time agreed, should be mere nullities so far as the sureties were concerned. The First National Bank of Sturgis v. Bennett et al., 33 Mich.,520. 93. A guaranty against loss or liability for signing as sureties, given by a bank president in his own name and without authority from the directors, to those whom he had solicited thus to sign a note given to the bank to retire a prior note held by it against their principal, is held to be the individual contract of the president, and not binding upon the bank. Ib. 94. C , in order to obtain a credit in his personal account with a baDk of which he was the president, procured the defendants, a banking firm, to discount his individual note, credit the amount to the bank, and notify the bank that REPORT OF THE COMPTROLLER OF THE CURRENCY. 103 OFFICERS—Continued. lie had deposited the amount with them to the credit of the bank. The bank had previously given C. credit for the amount, and, after being notified by the defendants that the deposit had been actually made with them, allowed C. to overdraw his account. Thereafter, and while his account with the bank was overdrawn, C , in his official character as president, authorized the defendants to charge the note to the account of the bank, and the defendants did so: Held, in a suit by the receiver of the bank t ) recover the deposit, That, unless expressly authorized to do so, the president of the bank could not use the funds of the bank to pay his personal obligation, and, there being no proof of such express authority, the authorization given by him to the defendants was not a defense to the clnim. Chrystie et al. v. Foster, 61 Fed. Hep., 551, 95. The inherent powers of a president of a bank by virtue of his office are very limited, and it is difficult to say what powers he inherently possesses, if any other than the power to take charge of the litigation of the bank by employing counsel and otherwise. The First National Bank of Wellsburg v. Kimberlands, 16 W. Va., 555. 96. A president of a bank may be authorized by its directors to do any act which they are authorized by their charter to do, unless the act to be done can by the charter bo done only by the directors themselves. Ib. 97. Such authority need not be proven by showing that it was expressly conferred by the board of directors, but may be proven by showing the existence of such facts as constitute clearly a public holding out that the particular act done or contract entered into was within the scope of his legitimate delegated authority. Ib. 98. The inference that such authority has been impliedly conferred may be legitimately drawn by proving that he was in the habit of doing acts or making contracts of the same general character as the particular act or contracts which he has done or made, and that these acts or contracts which he was in the habit of doing, though applied to different subjects, involved the same general power, except when the acts and contracts which he was in the habit of doing or making were so very numerous and so variant in their character as clearly to justify the inference that he was authorized impliedly to do all acts and make all contracts which the directors had the power to do or to make, and to confer on the president the right to do or to make. Ib. 99. The directors of a b m k may ratify any act done or contract made by the president without authority which they could have authorized him to do or to make. Ib. 100. The acceptance of the benefits of a contract made by the president for the bank is an implied ratification of such contract, and if money is received by its cashier for the bank under such contract, even when such receipt was unknown to the directors, it will be a confirmation of the contract, unless the money so received is returned, when its receipt becomes known to the directors. Ib. 101. Where the articles of association of a national bank, signed by all the original stockholders, and giving express authority to the board of directors to remove the president, have been transmitted to the Comptroller of the Currency, who has, on receiving the same, issued circulating.notes to the bank, he will be deemed to have approved the articles, and the directors will have the power to remove the president, even though the bank has never legally adopted any by-laws. Taylor v. Button, 43 Barb., 195 ; 1 N. B. C, 755. E. Vice-president— 102. The vice-president and general executive officer of a national bank has no power to borrow so large a sum as $200,000 at four months' time for the bank in the absence of special authority from the board of directors, and persons dealing with him are presumed to know the extent of his powers in this regard. Western National Bank v. Armstrong, 14 S. Ct.s572 ; 152 U. S., 346. 103. Ratification of the unauthorized act of a national-bank officer in borrowing $200,000 for the bank can only be made, if at all, by the board of directors, acting with knowledge of the material facts, and can not be inferred from the mere fact that by direction of the same officer the money was placed to the credit of the bank, when it appears that it was drawn out by him and the assistant cashier, and that no part of it came to the use or benofit of the bank. Ib. 104 REPORT OF THE COMPTROLLER OF THE CURRENCY. OFFSET: 1. Against th6 proceeds of the bonds deposited to secure circulation the United States can set off no claim, except for money advanced to redeem notes. Cook Co. National Bank v. United States, 107 U. S., 445. 2. And upon the failure of any association its 5 per cent redemption fund can not be retained by the Treasurer to pay taxes due to the United States, but the fund passes to the Comptroller as an asset of the association. Jackson v. United States, 20 Ct. Cls., 298. 3. Acts of Congress in relation to the administration of the assets of insolvent banks auihorize no other rules of set-off than those recognized by courts in the settlement of the affairs of other insolvent corporations. * Yardley v. Clothier, 49 Fed. Rep., 337; Scott v. Armstrong, 146 U. S., 499. 4. Set-off must be governed by the law of the place where, in case of controversy, suit must be brought to settle the rights of the parties. Savary v. Savary, 3 Clark, 271; Gibbs v. Howard, 2 N. H., 296; Vose v. Philbrook, 3 Story, 335; Buggies v. Kuler, 3 Johns., 263. 5. A separate demand, can not be set oft* against a joint one, or a joint debt against a separate one. Gray v. Kollo, 18 Wall., 629; Scammon v. Kimball, 92 U. 8., 862. 6. Where, however, a note is signed by one as principal and others as sureties, the indebtedness of the bank to the principal may be set oft'. Andrews v. Yarnell, 46 N. H., 17; Himrod v. Baugh, 85 III., 435. 7. An executor, administrator, or public officer is not entitled to set off against his liability as such any indebtedness from bank to himself individually, nor contra. Scammon v. Kimball, 92 U. S., 362; Benton v. Hoomes, executor, 1 A. K. Marsh, 19; Stowe v. Yarwood, 14 III., 424. 8. A judgment obtained in another than the attachment suit can not be set off against damages claimed for a wrongful attachment. Imperial Roller Milling Company v. First National Bank, 27 S. W., 49. 9. In an action against a bank commenced prior to the going into effect of the new code, by the personal representatives of a deceased customer, to recover a deposit which was due and payable to the deceased in his lifetime: Held, That the defendant could not, as matter of law, and in the absence of facts entitling it to equitable relief, set-off a claim against the deceased which did not become due until after his death. Jordan, administratrix, etc., v. The National Shoe and Leather Bank of Neiv York, 74 N. Y., 467. 10. A demand, to be set-off in such an action, must have been due and payable from the decedent in his lifetime. Ib. 11. The plaintiffs seek to oft'set the amount of their credit on the books of a defunct bank against the promissory notes received by the bank for discount before its failure: Held, That if the bank held the notes at the time of its failure and was entitled to receive the amounts due thereon when they matured, such offset might be made; but an offset of this kind cannot be allowed where it appears that the notes were not the property of the bank at the time of its failure, but had been indorsed away for value. Balbach et al. v. Frelinghuysen, Receiver, etc., 15 Fed. Rep., 675. 12. An attorney's lien upon a judgment is subject to any existing right of set-off in the other party to the suit. National Bank of Winter set v. Eyre et ah, 8Fed. Rep., 733. 13. A person liable upon a note to an insolvent national bank may set off, against his indebtedness, the amount of his deposits with the bank. Plati v. Bentley, 1 N. B. C, 758; 11 Am. L. Reg., 111. 14. But a debtor can not set off the amount of a deposit assigned to him after the act of insolvency committed. Venango National Bank v. Taylor, 56 Penn. St., 14. 15. The ordinary equity rule of set-off in case of insolvency is that where the mutual obligations have grown out of the same transaction, insolvency on the one hand justifies the set-off of the debt due on the other, and there is nothing in the statutes relating to national banks which prevents the application of that rule to the receiver of an insolvent national bank under circumstances like those in this case. Scott v. Armstrong, 146 U. S., 499. 16. A customer of a national bank who, in good faith, borrows money of the bank, gives his note therefor due at a future day, and deposits the amount borrowed to be drawn against, any balance to be applied to the payment of the note when due, has an equitable (but not a legal) right, in case of the insolvency and dissolution of the bank and the appointment of a receiver before the maturity of the note, to have the balance to his credit at the time of the insolvency applied to the payment of his indebtedness on the note. 1b. REPORT OF THE COMPTROLLER OF THE CURRENCY. 105 OFFSET—Continued. 17. One indebted to bank can not set off a claim against bank acquired subsequent toits to its suspension. Scott v. Armstrong, 146 U. S.t 499; Venango National Bank v. Taylor, 56 Fenh. St., 14; Colt v. Brown, 12 Gray, 233. 18. Right of set-off is allowable whether the indebtedness sought to be set off had or had not matured at time of bank's suspension. Scott v. Armstrong, 146 U. S., 499; SIdles v. Huton, 110 Penn. St., 254; Drake v. Kolio,3 Biss.,273. 19. While as a general rule in the administration of the estate of an insolvent debtor equality among creditors is equity, courts are not required to ignore the principle that only the balance, in case of mutual debts, is the real sum owing by or to the insolvent. Hugliiit v. Hayes, 136 N. T., 163. 20. Claims will be^ regarded by a court of equity as due, notwithstanding the absence of a technical demand, when equitable considerations require that they shall be applied each to the other. 11). 21. In the application of cross demands to the satisfaction of each other, the insolvency of one of the parties is a material circumstance, and although the debt owing by the insolvent may not be due, the creditor may waive the credit, and a court of equity will then apply it upon the debt from the insolvent, if that has matured. Ib. 22. The First National Bank entered into an oral contract with plaintiff to sell him certain real estate for a price specified. Plaintiff took possession under the contract, and made large and valuable improvements, with the knowledge and consent of the bank, which had authorized its cashier to execute a conveyance pursuant to the contract. Plaintiff had a deposit account with the bank. Shortly before the failure he for the third time requested the cashier to execute the conveyance; this the latter promised to do without further delay. Thereafter plaintiff accumulated his deposits with intent to use the balance to his credit in paying for the land when the deed was delivered ; this was known to the cashier. Plaintiff also, with the knowledge of the cashier, purchased a certificate of deposit issued by the bank with a view of applying it toward the payment. Plaintiff also did work and furnished materials for the bank, the account for which he rendered to it before the failure, and it was agreed that it should be adjusted on the final settlement for the purchase. Plaintiff, until the bank closed its doors, had no knowledge of its insolvency or of any fact affecting its credit. In an action against the receiver of the bank for a specific performance: Held, That plaintiff was entitled to the relief sought, and that he was entitled to be credited on the purchase price the balance due him on the deposit account, the amount of the certificate of deposit, and of the account for work and materials. Ib. 23. A claim for pay for services, due before a bank closes its doors, is a set-off to a liability on bills discounted. Davis v. Industrial Manuf'g Co., 19 S. E., 371. 24. When a bank closes its doors and commits an act of insolvency, its deposits, whether on account or certificate, at once become due without demand or notice, and are to be set off against a depositor's debt due the bank. Ib. 25. A certificate of deposit issued by a national bank is not a promissory note within the meaning of Gen. St., chap. 53, sec. 10; and in an action thereon by a person to whom it has been transferred by the depositor, the bank is not entitled to set off the amount due upon a promissory note given by the depositor to and discounted by the bank, the certificate being issued for the proceeds of such note. Shute v. Pacific National Bank, 136 Mass., 487. 26. A national bank having become insolvent, a depositor therein assigned his deposit to a debtor of the bank: Held, That the latter could not offset such deposit against his debt in an action thereon. The Venango National Bank v. Taylor, 56 Penn. St., 14; 1 N. B. C, 842. 27. On the failure of a national bank a depositor was indebted to it on eleven notes to the amount of $5,000, and had on deposit some $2,900. The receiver of the bank agreed that this sum should go as a set-off on the indebtedness, the depositor to pay the notes first coming due, and the deposit to be applied on the last-maturing notes. After paying the first two notes it was found that the others were in the hands of third parties, and the depositor was compelled to pay them, and filed a bill to authorize the receiver to refund the money paid under a mutual mistake. This bill was heard by the district judge of the western district of Tennessee, sitting in the circuit court of the southern district of Ohio. Held, That t|ie deposit should properly be set-off against the claim of the bank, and the depositor should recover the sum paid by him; but as the district judge of the southern district of Ohio had held in an action between the same bank and a creditor, the circuit judge concurring therein, that the plea of set-off was 106 REPORT OF THE COMPTROLLER OF THE CURRENCY. OFFSET—Continued. not available, in order that there might not be different rules of set-off in the same court in the case of the same insolvent, and as the case can not be appealed, it will be remanded for reargument before the regular judges, who may, in their discretion; provide for a dissent of record, or do what may to them seem right in the premises. Snyders' Sons Co. v. Armstrong, 37 Fed. Bep., 18. 28. The indorser of a note discounted by a national bank and which matures after the bank becomes insolvent and a receiver is appointed is entitled to set off against the note the amount of his deposit in the bank at the time of its failure. Yardley v. Clothier, 51 Fed. Bep., 506. 29. Debts of a partner and his firm to a bank can not, in equity, be set off by a receiver of the bank against trust moneys which the partner, after the debts were contracted, mingled with the firm deposits, without the bank's knowledge, and the whole amount of which remained continuously in the bank until it failed. Fisher v. Knight, 61 Fed. Bep., 491. 30. A cross demand, to be available as a set-off at law, must be such as would supportvin independent action at law by the defendant, at the commencement of the suit; hence, a payment of his principal's debt by the surety, after the commencement of suit against him on a debt due to his principal, is not available as a set-off in the action. Goldthwaite v. National Bank, 67 Ala., 549. 31. As against the assignee or.holder of a promissory note, suing the maker, the doctrine of set-off has never been carried further than to put him in the place of the payee, or party having the benefiial interest; and a setoff in favor of the maker, against an intermediae holder, has been uniformly disallowed, in the absence of an agreement founded on new consideration, between the maker and such intermediate holder. Ib. 32. In the absence of all intervening equities, courts of equity put the same construction on statutes of set-off as do courts of law. Insolvency is recognized as a ground for the allowance of a set-off in equity, when it would not be allowed at law, but it is only the insolvency of the original creditor against whom the claim is asserted; and while the assignee of nonnegotiable paper takes it subject to all equities to which it was subject in the hands of the assignor, this means only the equities between the original parties, and does not include equities which may arise between other parties in the course of its transfer. Ib. 33. The receiver of an insolvent national bank sued A and B on their joint note given to the bank. They claimed to set off notes given by the bank, and C and D who were also insolvent, as joint makers, to I) alone, and maturing after the receiver's appointment, and growing out of a distinct transaction from the note in suit: Held, not a proper set-off. Batch v. Wilson. 25 Minn., 299; 2 N. B. C, 274. 34. The voluntary payment by the maker of a promissory note, with a full knowledge of all the facts, operates as an abandonment and waiver of all right to set off' cross demands or independent debts, and a bill disclosing such facts presents no case for equitable relief by way of equitable set-off. United States Bung Manufg Co., v. Armstrong, 34 Fed. Bep., 94. 35. A bank may lawfully set off indebtedness of a stockholder to the bank against dividends accruing on such stockholder's shares. First National Bank v. De Morse, 26 S. W., 417. 36. In an action by a receiver of an insolvent bank to charge the estate of a shareholder with an assessment on his shares, the executor claimed, by way of set-off, that property belonging to the estate had been delivered to the bank, upon the understanding that it should be applied on the assessment if the bank should fail: Held, Not a proper subject to set off, even though the bank examiner assented to the agreement. Witters, Beceiver, etc., v. Soivles, exW, 32 Fed. Bep., 130. 37. The indebtedness of the stockholders on their individual liability, together with the other assets of the insolvent bank, constitute a trust fund for the benefit of its creditors; and in equity such indebtedness of a stockholder who is insolvent may be set off against a dividend, payable out of the trust fund, on a balance due him on his deposit account with the bank at the time of its failure. King etal. v. Armstrong, Beeeirer. 38. An assignment by the stockholder of his claim against the bank, before the direction of the Comptroller to enforce his liability, but after the insolvency of the bank, does not affect the right to set off his liability against the dividend due on his claim, nor does the fact that the Comptroller, at the time of the assignment, had not determined the amount necessary to REPORT OF THE COMPTROLLER OF THE CURRENCY. 107 OFFSET—C ontin u ed. be collected from the stockholders for the payment of the creditors. It is sufficient that such direction has been given, and amount so determined when the set-off is made. Ib. 39. In an action at law by a receiver of an insolvent national bank the defendant may set off any debt due from the bank to him at the time of the failure. Adams v. Spokane Drug Company, 57 Fed. Rep., 888. 40. Where a promissory note was discounted by a national bank and bills of exchange issued for a part of the proceeds, which were dishonored because of the subsequent failure of such bank, and part of the residue of the proceeds still remained to the credit of the maker of such note: Held, That in an action on such note by the receiver of the bank the maker could set oft' the amount of the bills of exchange and the amount still standing to his credit on the books of the bank. Ib, PASS BOOK: A pass book given by a bank to a depositor is not a written contract, but is a mere receipt for the amount deposited: and an action thereon is barred by the three-year limitation. Talcott v. First National B<nk, 36 I\, 1066, PLACE OF BUSINESS: 1. The provisions requiring "the usual business7' of the association to be transacted " a t an office or banking house in the place specified, in its organization certificate/7 must be construed reasonably ; and a part of the legitimate business of the association which can not be transacted at the banking house may be done elsewhere. Merchants' Bank v. State Bank, 10 Wall., 604. 2. Although the general business of a national-banking association is to be transacted at its place of business, yet if the association is fully advised of the facts, and does not object, and there is no fraud, its officers, when acting within the general scope of their authority, may bind it by acts-done at another place. Burton v. Barley, 9 Biss., 253. 3. Under Rev. St. sec. 5190, providing that " the usual business of each nationalbanking association shall be transacted at an office or banking house located in the place specified in its organization certificate," a national bank can not make a valid contract for the cashing of checks upon it at a different place from that of its residence through the agency of another bank. Armstrong v. Second Nat. Bank of Springfield, 38 Fed. Rep., 883. 4. Whatever the terms of such an arrangement, being made before the date of the drawee bank's certificate of authorization, it is invalid under Rev. St. sec. 5136, providing that no banking association ** shall transact any business, except such as is incidental and necessarily preliminary to its organization, until it has been authorized by the Comptroller of the Currency to commence the business of banking. Ib. POST NOTES: 1. A certificate of deposit, indorsed by payee, is not in violation of sec. 5183, Rev. St., which forbids national banks to issue any other notes to circulate as money than such as are authorized by the provisions of the statute. In re Hunt, 141 Mass., 515. 2. Certificates of deposit in the ordinary form, issued by a national bank to depositors and payable to order, are not post notes within the prohibition of sec. 5183, Rev. St. Riddle v. First National Bank of Butler, 27 Fed. Rep., 503. POWERS : 1. To the enumerated powers of national-banking associations are to be superadded all the powers incidental to the business of banking. Pattison v. Syracuse National Bank, 80 N. Y., 82. 2. A national bank may buy a check drawn upon another bank, and whether the check is payable to order or to bearer is immaterial. First National Bank of Rochester V. Harris, 108 Mass., 514. 3. A national-banking association, in the compromise of a claim growing out of its legitimate business, may take railroad stock. First National Bank of Charlotte v. National Exchange Bank of Baltimore, 92 U. S., 122. 4. And when necessary to do so, it may pay the difference between the value of the stock and the amount of the claim. Ib. 5. A national-banking association may take and hold the coupons of municipal bonds, and may maintain actions thereon. First National Bank of North Bennington v. Town of Bennington, 2 N. B. C, 487; Lyons v. Lyons National Bank, 19 Blatch., 279. 108 REPORT OF THE COMPTROLLER OF THE CURRENCY. POWERS—Continued. 6. A national-banking association may receive a deposit to be held by it as security for the faithful performance of a contract between the depositor and another. Bushnell v. The Chautauqua County National Bank, 10 Hun,, oryn O/O. 7. Whatever the terms of an arrangement being made before the date of the drawee bank's certificate of authorization, it is invalid under Rev. St. sec. 5136, providing that no banking association "shall transact any business except such as is incidental and necessarily preliminary to ita organization, until it has been authorized by the Comptroller of the Currency to commence the business of banking.'' Armstrong v. Second National Bank of Springfield, 38 Fed. Rep., 883. 8. Where an association has made or ratified a contract to give a person a certain number of the shares of its stock, upon condition that he will continue to do his business with it, and derives the benefit from this contract, the other party may recover of the association the value of the shares. Rich v. State National Bank of Lincoln, 7 Ned., 231. 9. As the national-currency act of 1864 authorizes banks created under it to buy and sell coin, such bank, having coin in pledge, may sell and assign its special property therein. Merchants' Bank v. State Bank, 10 Wall., 604. 10. The clause requiring the usual business of the bank to be done at an office or banking house in the place selected does not prevent its purchase of coin at the banking house of another bank. Ib. 11. In adjusting and compromising claims growing out of a legitimate banking transaction, it may take stocks of other corporations with a view to selling them at a profit. First National Bank v. National Exchange Bank, 92 U. S., 122. 12. A national bank is not prohibited by law from guaranteeing payment of a note. People's Bank v. National Bank, 101 U. S., 181. 13. Under national-banking act one can exercise only the powers expressly granted and those necessarily incidental. Logan Bank v. Townsend, 139 U. S., 67. 14. It is not negligence for a bank to intrust its cashier to select and hire and pay out of his salary all the clerks and other servants employed in the banking-room, no negligence being shown in the selection of the cashier. Smith v. First National Bank in Westfield, 99 Mass., 605. 15. An endorsement by a married woman, expressly charging her estate with the payment of a note, is such a security as a national bank may take. Third National Bank v. Blake, 73 N. Y., 260; 2 N. B. C, 300. 16. A national bank empowered by charter to provide necessary real estate for its business may make a contract to prevent the erection of buildings on adjacent land so as to secure light and air for its banking house. Trustees of First Presbyterian Chiwch v. National State Bank, 29 A., 320. 17. A bank empowered to discount negotiable notes has power to purchase such notes. Pape v. Capitol Bank of Topeka, 20 Eans., 440; 27 Am. Hep., 18; 2 N. B. C.f 238. 18. The enumeration of banking powers in the national-banking act is not significant of an intention to place any special restrictions upon national banks as distinguished from State banks. The enumeration is of the general, not the incidental powers. Pattison v. Syracuse NaVl Bank, 80 N. ¥., 82. 19. A national bank may guarantee the payment of commercial paper as incidental to the exercise of its power to buy and sell the same. Thomas v. City Nafl Bank, 58 N. W., 943. 20. National-banking associations can engage in the business of dealing in and exchanging Government securities. Van Leuven v. First National Bank, 54 N. Y., 671; Yerkes v. National Bank of Port Jervis, 69 N. Y., 383; Leach v. Hale, 31 Ioiva, 69. 21. Under Rev. St., sec. 5136, providing that no banking association shall transact any business except such as is incidental and necessarily preliminary to its organization, until it has been authorized by the Comptroller to commence the business of banking, correspondence between one bank and the person who became the president of a bank afterward formed can not constitute an agreement controlling the business between the banks, but may be referred to, in connection with other evidence, to show what was their understanding. First Nafl Bank of Wellston v. Armstrong, 42 Fed, Rep., 193. 22. A loan of money made by a national bank on the security of a mortgage is not in violation of the national banking act. Forlier v. New Orleans Nafl Bank, 112 U. S., 440; 3 N. B. C, 140. REPORT OF THE COMPTROLLER OF THE • CURRENCY. 109 POWERS—C on tinued. 23. Where a national bank holds stock in a savings bank, and receives dividends thereon, it is estopped, in an action against it to enforce its liability as such stockholder to a depositor in the savings bank, from claiming that it is ultra vires for it to hold such stock, in the absence of a statute expressly prohibiting it. Kennedy v. California Savings Bank et ah, 35 P., 1039. 24. In an action by a national bank upon a promissory note it can not be pleaded by an indorser as a defense that the bank acquired the note by purchase; for even if such purchase is in excess of the power of the bank, this can be availed of only in proceedings by the Government to forfeit the franchises of the bank. Prescott National Bank of Lowell v. Benjamin F. Butler, 32 N. E., 909; 157 Mass., 548. 25. Even if a national bank does not get the legal title to a promissory note bought in the market it may maintain a suit as the holder thereof. Ib. 26. A national bank has power to take an assignment of a. mortgage on land to secure a loan made at the time of the assignment. First National Bank of Aberdeen v. Andrews et al.; Young v. Same, 34 P., 913; 7 Wash., 261. PREFERENCE : See Preferred claims. 1. If the officers of a national bank, at the time of pledging a note to secure a depositor who.had been allowing the bank to use his money, and who was apprehensive of a loss thereof, saw that the bank was approaching failure and made the pledge to keep the note out of the assets to be distributed, such pledge would be void; but if they made it to prevent failure, and expecting to prevent failure, by retaining and using the deposit to pay other depositors, it would be good. Roberts v. Sill, 23 Fed. Rep., 311. 2. On examination of the circumstances of this case: Held, That the pledge should be sustained. Ib. 3. The word u insolvency," as used in sec. 52 of the act of 1864 (13 St. at Large, 115; Rev. St., sec. 5242), making void all transfers, assignments, payments, etc., "made after the commission of an act of insolvency or in contemplation thereof, is synonymous with the same word as used in the bankrupt act, and means a present inability to pay in the ordinary course of business. Case v. Citizens' Bank of Louisiana, 2 Woods, 23; 1, N. B. C, 276. 4. To make transfers, assignments, etc., void under sec. 52, it is only necessary that the insolvency should be in the contemplation of the bank making transfers; the party receiving the transfers need not know of or contemplate such insolvency. Ib. 5. A bank is in contemplation of insolvency when the fact becomes reasonably apparent to its officers that the concern will presently be unable to meet its obligations, and will be obliged te suspend its ordinary operations. Roberts, Receiver, etc., v. Hill, adm'r, etc., 24 Fed. Rep., 571. 6. The intent to give a preference is presumed when a payment is made to a creditor by a bank whose officers know of its insolvency, and therefore that it can not pay all of its creditors in full. Ib. 7. Where property is transferred by a bank to a creditor to avoid paying him the amount due him, and thus postpone the failure of the bank, it is none the less fraudulent and void. Ib. 8. The Pacific National Bank of Boston suspended November 18, 1881, but after examination resumed March 18, 1882, with the consent of the Comptroller of the Currency, and continued to transact business until May 22, 1882, when it again failed. Between March 24, 1882, and April 28, 1882, certain creditors, whose claims had been disputed and rjlaced in a suspense account, attached the property of the bank, whereupon the bank gave bond, with the president and a director as sureties, and the attachments were dissolved. The bank transferred to the sureties, March 22, 1882, a certificate of deposit for $100,000 on another bank, which, on April 13, 1882, was exchanged for other property: Held, That such transfer was not made after the commission of an act of insolvency by the bank, or in contemplation thereof, and with a view to a preference or to prevent the application of the assets as prescribed by the banking act. Price, Receiver, v. Coleman etal., 22 Fed. Rep., 694. 9. After a vote of the directors to close their bank and go into liquidation, any transfer of the assets of the bank to a creditor, whereby that creditor secures a preference, will be presumed to be made with a fraudulent intent. National Security Bank v. Price, Receiver, 22 Fed. Rep., 697. 10. A bank, being in an embarrassed financial condition, received a loan of money from defendant upon dspositing with a certain commercial firm a portion of 110 REPORT OF THE COMPTROLLER OF THE CURRENCY. PREFERENCE—Continued. its assets as security: Held, That the fact that one of the members of such firm was president of the bank did not render the transaction illegal, and that the bank could not escape liability for such loan ou the ground that the president had no authority to effect it where it appeared that it was effected with the knowledge of the directors, and the money was received and used by the bank. Casey v. Credit Mobilier Society, 2 Woods, 77; 1 N. B. C, 285. 11. Section 2, act Congress June 30, 1876 (19 St. at Large, p. 63), provides that the individual liability of shareholders of an insolvent national bank, fixed by Rev. St., sec. 5151, "may be enforced by any creditor of such association by bill in equity in the nature of a creditors77bill brought by such creditor on behalf of himself and all other creditors: Reid, That a mortgage of all his individual property executed by a cashier and stockholder of such bank, after it had closed its doors, to secure a depositor, amounted to a preference, and was void as against the judgment recovered against the cashier by the receiver under Rev. St., sec. 5151, either in the hands of the receiver or in those of a purchaser irom him for value. Gatch v. Fitch ct al.; Sunman v. Gatch et al., 34 Fed. Hep., 566. 12. To render a transfer by a national bank made after an act of insolvency, or in contemplation of insolvency, void, under sec. 52 of the act of 1864 (Rev. St., sec. 5242), it must have been made either with a view to prevent the application of the assets in the manner prescribed by the nationalbanking act, or with a view to the preference of one creditor to another. Casey v. La Societe de Credit Mobilier de Paris, 2 Woods, 77; 1 N. B. C, 285. 13. The preference of one creditor to another, mentioned in sec. 52 of the act of 1864, is a preference given to an existing creditor for a preexisting debt, and does not refer, to a case where one makes a loan to a bank and receives a concurrent transfer of property as security therefor. Ib. 14. Construction and application of Rev. St., sec. 5242, as to transfers by insolvent national banks. National Bank v. Butler, 129 U.S., 223. 15. "What motive is sufficient under Rev. St., sec. 5242, to invalidate a transfer by a national bank. Ib. 16. The term '-'insolvency/' as used in sec. 5242, Rev. St., forbidding transfer of the assets of national banking associations after, or in contemplation of, such insolvency, has the same meaning as it had in the bankrupt act; that is, it does not mean an absolute inability of a debtor to pay his debt at some future time, upon a settlement and winding up of his affairs, but a present inability to pay in the ordinary course of business. Case v. Citizens1 Bank of Louisiana, 2 Woods, 23; Market Bankx. Pacific National Bank, 30 Bun., 50. 17. Notes given in renewal of other notes held by a national bank, the original notes not being returned to the maker, axe not " evidences of debt," or " assets/'within Rev. St., sec. 5242, declaring void all transfers of "evidence of debt 7 ' owing to any national bank made after insolvency, or in contemplation thereof, to prevent the application of the assets to the bank, as required by law, or with a view to prefer creditors. First National Bank of Decatur v. "Johnston, 11 So., 690; 97 Ala., 655. 18. The question whether a savings bank which was a depositor with a national bank, which has become insolvent, shall be paid in full pursuant to State statute, is a question arising under the laws of the United States, and entitles the re eiver of the bank when sued for such deposit to remove the case to the United States circuit court. Auburn Savings Bank v. Hayes, 57 Fed. Rep., 821. 19. The Pacific Bank of Boston, not being a member of the clearing house, used to deposit with the Security Bank all checks received by it to be collected through the clearing house, and was credited by the latter bank as a depositor. The directors of the Pacific Bank having, one Saturday after closing, determined to go into liquidation, dispatched a committee to Washington to confer with the Comptroller of the Currency as to the appointment of a receiver. The appointment was made about 10 a. m. on Monday. Mpnday morning the cashier of the Pacific Bank sent the checks and drafts received by mail to the Security Bank, and with them his check for the whole amount of the bank's deposits, for which he received a negotiable certificate of deposit of the Security Bank. The latter at the time held the Pacific Bank's negotiable certificate of deposit. The transaction occurred about 9.30 a. m., when no officer of the Security Bank knew or suspected that the Pacific Bank was insolvent: Held, That the cashier must have presumed that the Security Bank still held its certificate of deposit, and that in sending to it the checks and drafts he was making a REPORT OF THE COMPTROLLER OF THE CURRENCY. Ill PREFERENCE—Continued. 20. 21. 22. 23. 24. 25. transfer which necessarily gave a preference, and. was void under sec. 5242, Rev. St., and the Security Bank therefore could not set off the Pacific Bank's certificate of deposit against its own. National Security Bank v. Butler, 129 U. S., 223; 3 N. B, C, 320. Revised St., sec. 5242, which prohihits all transfers hy any national hanking association made after the commission of an act of insolvency, or in contemplation thereof, with the view to a preference of one creditor over another, is directed to a preference, not to the giving of security when a delit is created; and if the transaction be free from fraud in fact, and is intended merely to adequately protect a loan made at the time, the creditor can retain property transferred to secure such a loan until the debt is paid, though the'debtor is insolvent, and the creditor has reason at the time to believe that to be the fact. Armstrong v, Chemical National Bank, 41 Fed. Hep., 234. Section 5242, Rev. St., does not prohibit a bank which has in good faith accepted the draft of a national bank the day before the latter's insolvency, and afterward paid the same, from applying the proceeds of collections made by it, on paper in its hands belonging to the insolvent bank, to the payment of the draft, since its lien on such collections runs from the date of the acceptance. In re Armstrong, 41 Fed. Rep., SSL In an action by the receiver of a national bank to recover back pavments alleged to have been made by the bank in violation of the provision of the national banking act (sec. 5242), declaring void all transfers of securities and payments made by a bank organized under it " after the commission of an act of insolvency or in contemplation thereof made with a view to prevent the application of its assets,v as prescribed by the act, these facts were found: Defendant held three certificates of deposit issued by the bank, drawing 6percentinterest; its cashier, for the reason alleged by him that the directors did not like his paying so large a, rate of interest, voluntarily paid two of them, mostly by transferring to defendant negotiable paper. The third certificate was paid on presentation. The bank at the time of these payments was, in fact, insolvent, and had been for years, but this was known only to the cashier; it was in good credit and had committed no act of insolvency and paid all its obligations as they became due, or were demanded, for six weeks after the last of said payments was made: Held, That the complaint was properly dismissed, as plaintiff failed to show that the payments were made in contemplation of insolvency, or to prevent the application of the bank's assets as prescribed by the act. Hayes, Receiver, v. Beardsley, 136 N. Y , 2,29. The insolvency of the bank was so concealed by the cashier that none of its directors had any suspicion thereof, and it was not discovered by the bank examiner: Held, That under tho circumstances the fact that defendant was a director did not as matter of law charge him with liability for the pavments made to him; that it having been found tint he acted in good faith and in ignorance of any wrongdoing, or of fie bank's insolvency, payments made to him were to be tested under said provisions like payments made to other creditors. Ib. Under Rev. St., sec. 5242, which forbids all preferences among the creditors of insolvent national bonks, a county whose money has been deposited by the county treasurer in a national bank that Ins become insolvent has no superior right over other depositors in the assets of tho bank where it is not shown that the identical funds deposited by the treasurer, or the proceeds of such funds, have come into the haiids of the receiver. Spokane Count}/ v. Clark, 61 Fed. Rep., 538. A county whoso funds are deposited in a bank that fails has no preference over other depositors, as to the bank assets, where the identity of the funds deposited by the county has been lost. San Diego County v. California National Bank, 52 Fed. Rep., 59, disapproved; Multnomah County et al. v. Oregon National Bank et al., 61 Fed. Rep., 912. PREFERRED CLAIMS : See Liens; Special deposits. 1. Section 3466, which gives the United States a priority for all claims it has against insolvent debtors, does not apply to the case of an insolvent national banking association. Cook County National Bank v. United States, 107 U. S., 445. 2. A banker's lien for the amount of the balance of its general account does not exist when the securities have been deposited with the bank for a special purpose or for the payment of a particular loan. Ib. 112 REPORT OF THE COMPTROLLER OF THE CURRENCY. PREFERRED CLAIMS—Continued. 3. Where an insolvent association receives a deposit a short time before closing its doors, its officers knowing of the insolvency at the time, the receipt of snch deposit is a fraud upon the depositor, and no title passes to the association, and therefore the depositor may reclaim the whole amount of the deposit; and as he claims under his original title, and not under a transfer from the association, such reclamation does not amount to a preference. Cragie et ah v. Hadley, 99 N. Y., 131. 4. A trust was not impressed upon funds deposited on day the bank closed its doors in the absence of proof that the deposit had not gone into the general funds of the bank and lost its identity before reaching the receiver. In re North Elver Bank, 14 N. Y., 261. 5. A draft given to a bank in the ordinary course ox business does not constitute an equitable assignment of the fund, nor is it sufficient that draft be drawn by bank against its reserve fund in another city and given in exchange for clearing-house certificates upon the president's representation that it owes a heavy debt at the clearing house, which it is unable to meet, and his statement showing the amount of the reserve fund against which the draft was drawn. Fourth Street National Bank v. Yardley, Receiver, 55 Fed. Rep., 850. 6. In a package of miscellaneous bonds was the memorandum of the date, amount, and time when due, and also the words "$6,500 due Putnam:" Held, That these facts did not show an equitable assignment by the bank to the plaintiff of '$6,500 worth of bonds. To constitute an equitable assignment of property, there must be an appropriation or separation, and the mere intent to appropriate is not sufficient. Putnam Savings Bank v. Beal, 54 Fed. Rep., 577. 7. Where the treasurer and tax collector of a county, without authority of law, deposit county money in a bank and receive certificates of deposit marked l \ special," the title to the moneys does not pass, although there is no agreement that the identical bills shall be returned and they are mixed with the bank's general funds, and the county is entitled to recover an equal amount from a receiver of the bank prior to the payment of the general depositors. San Diego County v. California National Bank et ah, 52 Fed. Rep., 59. (See Multomah County et al. v. Oregon National Bank et al., 61 :• Fed. Rep., 912.) 8. Certain checks marked " for deposit" were deposited in a bank at a quarter to 3 on Saturday, and credit was immediately given for the amount thereof on the pass book. The bank closed at 3, and the next day was declared insolvent with the checks still in its hands. It was the bank's custom, at the close of each day's business, to balance its books, crediting depositors with the amount of their checks, and if a check was subsequently returned unpaid from the clearing house, it was charged off to the depositors. The depositor in this instance did not know of this custom. He had made deposits with the bank for several years without any special arrangement, and had never drawn against xmcollected checks, except by particular understanding: Held, That on these facts title had passed to the bank so as to create the relation of debtor and creditor. City of SomervilleY. Beal, Receiver, 49 Fed. Rep., 790. 9. But where the foregoing facts were alleged in the bill, and connected with the further allegation that, at the time the checks were received, the bank was "irretrievably insolvent, and made so by the operations of the president and two others of the directors," and that the depositor then believed it to be solvent, and had no means of knowing of its insolvency, this was sufficient to show fraud, and to render the bank liable to return the checks or their proceeds. Ib. 10. It was not necessary for thp bill to specifically allege that the officers of the bank had knowledge of its insolvency, since such knowledge would be implied from the allegation that the insolvency was caused by the president and two directors. Ib. 11. A city treasurer deposited checks in a bank, indorsed by him "for deposit," and the checks were immediately credited to him on his pass book, though not in pursuance of any agreement to that effect. He had been a depositor in the bank for some years, but had no agreement that his checks should be treated as cash, or that he should draw against them before collection. The bank became insolvent before the checks were collected, and their proceeds passed into the hands of a receiver: Held, That no title passed to the bank except as a bailee, and that the depositor was entitled to the proceeds. Beal, Receiver, v. City of Somerville, 50 Fed. Rep., 647, REPORT OF THE COMPTROLLER OF THE CURRENCY. 113 PREFERRED CLAIMS—Continued. 12. No knowledge by any of the officers of a bank, of its insolvency, is sufficient to avoid transactions between the bank and its customers, on the ground of fraud, unless the evidence clearly shows that the directors, who represent the corporation, also had such knowledge. Balbach et al. v. FrelingJmysen, Receiver\ etc., 15 Fed. Hep., 675. 13. When a bank has become hopelessly insolvent, and its president knows that it is so, it is a fraud to receive deposits of checks from an innocent, depositor, ignorant of its condition, and he can reclaim them or their proceeds; and the pleadings in this case are so framed as to give the plaintiff in error the benefit of this principle. St. Louis and San Francisco Railway Co. v. Johnston, 133 U. S.t 566. 14. Where complainant sent a draft to a bank for collection charged with a trust to pay the proceeds thereof when collected to complainant, the bank being insolvent at the time, and its officers knew of its insolvency and that the bank would be obliged to suspend within a day or two, and the bank received the draft of an agent of the owner to remit the proceeds thereof, when converted into a draft on another bank to the credit of complainant, but instead of so remitting the proceeds thereof it kept the same, and mingled the proceeds of such draft with its own funds: Held, That such conversion by the bank was fraudulent, but that in an action by complainant for the recovery of such proceeds, it is incumbent upon the complainant to trace the fund misappropriated into the hands of the receiver substantially appointed for the insolvent bank, before the latter can be charged with recognizing complainant's equitable title thereto. Illinois Trust and Savings Bank v. First National Bank and another, Receiver, etc., 15 Fed. Rep., 858. 15. A cestui que trust cannot follow his fund into the hands of an assignee in bankruptcy, or of an executor of such trustee, but must occupy the position of a general creditor of the estate, unless he can identify his fund. Ih. 16. The right to follow it trust fund ceases when the means of ascertainment and identification fail, as where the subject matter is turned into money, and mixed aud confounded in a general mass of property of the same description. Ih. 17. The Comptroller having notified a national bank that its capital was impaired, it was agreed that it might continue business on the directors putting in $100,000 in cash, and retiring that amount of objectionable securities. That sum was contributed; the account being opened with trustees appointed by the directors to manage the fund, with full power, as far as the bank was concerned, and to account therefor to the contributors in such manner as to protect the equities of each individual and the bank, in relation to the bank and its legal rights. It was understood between the trustees and the examiner that the securities to be retired were to be designated by the Comptroller or examiner, but there was no such understanding with the Comptroller. The full amount of objectionable securities had not been selected and given to the trustees when the bank was closed, the receiver taking and proceeding to collect the whole assets: Held, That the receiver was not required to account for the balance of the $100,000 as a special trust fund, but merely as a debt. Booth et al v. Welles, 42 Fed. Rep., 11. 18. Where money and checks are unsuspectingly deposited in a bank, which is known by its managing officer to be hopelessly insolvent, a few minutes before closing hour on the last day on which it does business, and the checks are subsequently collected by the bank's clerk, the whole of the deposit is charged with a trust, and an equal amount may be recovered from the receiver, who retains the specific money among the general mass of the bank's funds. Wassonx. Hawkins, 59 Fed. Rep., 233. 19. Where plaintiff deposits money with the receiving teller of a bank a few minutes before the bank closes its doors, to be credited to his account, and the teller, not knowing of the coming failure, after crediting the money in plaintiff's pass book, puts the money and deposit ticket one side, and before entry is made in the books of the bank, it closes its doors, and the money is, by order of the directors, placed apart, and in that condition delivered to the receiver, plaintiff can maintain replevin for the money so deposited. Furher v. Stephens, 35 Fed. Rep., 17. 20. A creditor of an insolvent national bank, whose demand grows out of a fraudulent transaction perpetrated by the officers of the bank in contemplation of the immediate wrecking of their corporation, does not thereby become entitled to a preference over the general creditors of the bank. Citizens' Nat. Bankv. Dowd, 35 Fed. Rep.,340. 8182 CUR 8 114 REPORT OF THE COMPTROLLER OF THE CURRENCY. PREFERRED CLAIMS—Continued. 21. On the 22d and 23d of March plaintiff, a bank in Raleigh, N. C , received in the ordinary course of business checks drawn on the State National Bank of that city, which, after deduction had been made of its checks received by the latter bank, amounted to $17,000. It paid the same by its checks on a bank in New York. The president of the State National Bank knew when he signed such checks that they would not be honored, and was making preparations to abscond Avith the assets of his bank: Held, That plaintiff is not entitled to any preference over other unsecured creditors. Ib. 22. Plaintiffs deposited in the usual course of business certain drafts with a national bank, which were credited to them on the books of the bank and in their pa^s book. The bank was at the time irretrievably insolvent,* and its drafts had gone to protest the day before; of this its president, to whom was intrusted its entire control and management, had full knowledge, and presumably its other officers and agents. The bank kept open until the usual hour of closing on the day of the deposit, but did not open its doors thereafter, and went into the hands of a receiver. In an action to recover the deposit: Held, That in permitting plaintiffs to make it in reliance upon the supposed solvency of the bank a gross fraud was practiced upon the plaintiffs, and they were entitled to reclaim the drafts or their proceeds. Also, that the right of plaintiffs to make the reclamation was not precluded by the provisions of Rev. St., sees. 5234 and 5242 forbidding all preferential payments or transfers by an insolvent bank, and providing for a ratable distribution of its assets, as plaintiffs did not claim under a transfer from the bank, but under their original title that their relation as creditors terminated when they elected to rescind the contract implied when the deposit was made, and they were seeking simply to reclaim their own property, and that neither the receiver nor any creditor of the bank had any equity to have such property applied in payment of its obligations. Cragieet al. v. Hadley, Receiver, 99 N. Y., 131. PRESIDENT. See Officers. REAL ESTATE: 1. Where a national-banking association acquires real estate which it is not authorized to take, the conveyance to it is not void, but only voidable. And the title of the association to such real estate is good until assailed in a direct proceeding by the Government. National Bank v. Matthews, 98 U. S., 621; National Bank v. Whitney, 103 U. 8., 99; Swope v. Leffingwell, 105 U. S., 3; Reynolds v. Cratvfordsville Bank, 112 U. S., 405 ; Fortier v. New Orleans Bank, 112 U. S., 439. 2. The amount of real estate-which a national-banking association may purchase to secure a preexisting debt is not limited to the exact amount of the debt, but as much may be purchased as is necessary to secure the debt due, so long as the security of such debt is the real object of the purchase. Upton v. National Bank of"South Reading, 120 Mass., 153. 3. Where the purpose is to secure a debt, previously contracted, a nationalbanking association may take a conveyance of" real estate, worth more than the debt, and pay the difference between the debt and the value of the property. Libby v. Union National Bank, 99111., 622. 4. A national-banking association may take as security for a loan the stock of a corporation whose entire capital is invested in real estate. Such a loan does not amount to* a lending upon mortgage. Baldwin v. Canfield, 26 Minn., 43. 5. A national-banking association, having taken a mortgage on real estate to secure a debt previously contracted, may, in order to protect itself, pay off a prior lien.on the said real estate; and the lien which it thus acquires it may enforce. Ornn v. Merchants' National Bank, 16 Kans., 341; Holmes v. Boyd,*90 Irtd., 332. 6. The fact that bank at judgment sale of land mortgaged to it purchases the mortgaged property, and also other property which it was not authorized to acquire, does not invalidate its title as to the mortgaged property. Reynolds v. Craivfordsville Bank, 112 U. S., 405. 7. A mortgage to a national bank to secure a present loan by the discount of commercial paper in the usual course of business is not void, but only voidable at the election of the Government. Graham v. National Bank of New York, 32 N. J., Eq., 804; 2 N. B. C, 293. 8. A national bank may lawfully take a mortgage to secure future indebtedness. Simons v. First National Bank of Union Springs, 93 JV. Y., 269; 3 N, B. C, 622. REPORT OF THE COMPTROLLER OF THE CURRENCY. 115 REAL ESTATE—Continued. 9. To secure a preexisting debt, in good faith, a national bank may acquire title to real estate by direct conveyance or judicial sale, although such real estate may be encumbered. Mapes v. Scott, 88 III., 352; 2 N. B. C, 228. 10. As security for a preexisting debt, a national bank may make an assignment of a note and a real mortgage contemporaneously executed to secure such note. Worcester National Bank v. Cheeney, 87 III., 603; 2 N. B. C, 227. 11. A national bank may purchase, at sheriff's sale, land mortgaged to it as security for a previous debt. Heath v. Second National Bank of Lafayette, 70 Ind.< 106; 3 N. B. C, 406. 12. A national bank may take title to real estate in discharge of previous indebtedness. Turner v. First National Bank of Madison, 78 Ind., 19; 3 N. B. C, 408. 13. If a national bank discounts a note secured by deed of trust on real estate, the security passes to and may be enforced by the bank, subject only to forfeiture of its charter, which penalty can be invoked only by the United States. Thornton v. National Exchange Bank, 71 Mo., 221; 3 N. B. C, 513. 14. A mortgage of real estate executed to a national bank as security for a manured antecedent loan is not void. Warren v. DeWitt County National Bank, 3 Bradwell, 305; 2 N. B. C, 222. 15. A real mortgage to a national bank to secure a present debt or future advances is not void. First National Bank of Watei^loo v. Elmore, 3 N. W.t 547; 2 N. B. C, 237. 16. National banking associations are by implication prohibited from taking mortgages on real estate as security for contemporaneous loans. National Bank v. Matthews, 98 TJ. S., 621; Fowler v. Scully, 72 Penn. St., 456; Kansas Valley National Bank v. JRoivell, 2 Dill., 371; Commonwealth Bank v. Clark, 4 Mo., 59; Crocker v. Whitney, 71 N. Y., 161: Fridley v. Bowen, 87 III., 151. 17. But where such security has been taken no one but the Government can be heard to complain that the association has exceeded its powers. National Hankv. Matthews, supra; National Bankv. Whitney, 103 TJ. S.,99; Swopev. Leffingwell, 105 TJ. S., 3; Reynolds v. National Bank, 112 TJ. S., 405; Fortier v. National Bank, 112^ TJ. S., 439. 18. Where a national-banking association sells real estate it may take a mortgage thereon to secure the payment of the purchase money. New Orleans National Bank v. Raymond, 29 La. Ann., 355. 19. An agreement by a national-banking association to the effect that, in case a note discounted by it shall not be paid, a mortgage given by the maker to his indorser shall inure to the benefit of the association, is not inhibited by the national-banking law. First National Bank v. Haire, 36 Iowa, 443; National Bank v. Matthews, supra. 20. A national bank can not loan money on real estate security ; but after a creditor has made default, or after a loan has been actually made, the bank may take real estate security therefor unless the transaction be colorable for the purpose of evading the statute. Merchants1 National Bank v. Mears, 10 Chicago Leg. News, 180; 1 N. B. C, 353. 21. A national bank that has loaned money on timber land may, to protect itself and collect the debt, purchasef the land at foreclosure sale, and cut and sell the timber. Roebling Sons Co. v. First National Bank et al., 30 Fed. Rep., 744. 22. The objection that a national bank has loaned money on real estate in violation of the prohibition of the national banking laws does not lie in the mouth of the delinquent debtor of such loan, and does not disable the bank from enforcing the same by foreclosing the mortgage. The United States alone can complain of such violation. State National Bank v. Flathers Sup. Ct. La. 23. Where notes payable at different times, and secured by a mortgage, are assigned to different i>ersons, there is no priority of right under the mortgage between the assignees, in the absence of express stipulation, but each is entitled to share pro rata in the proceeds of the mortgaged property. First National Bank of Aberdeen x. Andrews et al.; Young v. Same, 34 P.,'913; 7 Wash., 261. RECEIVER: See Insolvent banks; Preferred claims; Collections. 1. Upon the appointment of a receiver all the assets of the association become, in his hands, a trust fund, which the statute of limitations does not touch or affect. Riddle v. First National Bank, 27 Fed. Rep., 503. 2. Claims arising out of thenonfeasanceor malfeasance of the association should be paid ratably with the debts, technically so called. Turner v. First National Bank of Keokuk et al., 26 Iowa, 562: 116 REPORT OF THE COMPTROLLER OF THE CURRENCY. RECEIVER—Continued. 3. A receiver, when appointed by the Comptroller, with the concurrence of the Secretary, is'an officer of the United States. Stanton v. Wilkeson,8 Ben., 357, 4. He represents the hank, its stockholders, and its creditors j hut he does not in any sense represent the Government. Case v. Terrell, 11 Wall., 199. 5. The clause of sec. 50, act of 1864, which prescribes that the receiver shall be " under the direction of the Comptroller/7 means only that he shall be subject to the Comptroller's direction, not that he shall not act without orders. He may bring suit to collect assets ivithout having been instructed to do so by the Comptroller. Bank v. Kennedy, 17 Wall., 19. 6. The receiver of a national bank is the instrument of the Comptroller, and may be removed by him. Kennedy v. Gibson, 8 Wall., 505. 7. The power of the Comptroller to appoint a receiver is not exclusive; it does not oust the courts of equity of their authority in the matter, and therefore a court of competent jurisdiction may place the bank in the hands of a receiver in cases where, according to the rules of equity, it may pursue such a course with regard to insolvent corporations generally. Irons v. Manufacturers' National Bank, 6 Biss., SOI; Wright v. Merchants' National Bank, 1 Flippin, 561. 8. Suits brought by a receiver can not be settled or compounded upon an order of the Comptroller; this can be done only with the authority of the court. Case v. Small, 2 Woods, 78. 9. The decision of a receiver rejecting a claim is not final. The claimant still has the right to sue. Bank of Bethel v. Pahquioque Bank, 14 Wall., 383. 10. The receiver can not sell the real or personal property of the bank without an order from a court of competent jurisdiction. Ellis v. Little, 27 Kans., 707. 11. Nor can he sell upon the terms in conflict with the order. Ib. 12. And under an order permitting him to sell the property of the bank he can not exchange, trade, or barter it for other property. Ib. 13. A sale made by a receiver under order of a court is to all intents and purposes a judicial sale. In re Third National Bank, 9 Biss., 535. 14. As the power of a receiver of a national bank appointed by the Comptroller is limited, a person dealing with him in his official capacity is bound, as a matter of law, to have knowledge of his authority to act, and if contracts and agreements are entered into with the receiver in excess of his authority as conferred by law, the parties contract at their own peril, and the estate of the bank can not be charged for the default or inability of a receiver acting outside of his functions as receiver and beyond the duties which it involves. Ellis v. Little, 27 Kans., 707. 15. The receiver can not charge the estate of the bank by any executory contract, unless authorized so to do by the provisions of the national-banking law and the order of a court of competent jurisdiction obtained upon the terms of said law. Ib. 16. The closing of a national bank by order of the examiner, the appointment of a receiver, and its dissolution by decree of a circuit court necessarily transfer the assets of the bank to the receiver. Scott v. Armstrong, 146 U. S,, 499. 17. The receiver in such case takes the assets in trust for creditors, and in the absence of a statute to the contrary, subject to all claims and defenses that might have been interposed against the insolvent corporation. Ib. 18. Receiver of national bank may sue for demands in his name as receiver or in name of bank. Bank v. Kennedy, 17 Wall., 19. 19. Receiver of national bank appointed by Comptroller of the Currency is not accountable in equity to owner of real estate for rents thereof received by him and pa*id into United States Treasury, subject to disposition of Comptroller, under Rev. St., sec. 5234. Hitz v. Jenks, 123 U. S., 297; Briggs v. Spaulding, 141 V. S., 132. 20. The expenses of receivership of a national bank appointed in a creditor's suit, contesting a voluntary liquidation of the bank, can not be charged on stockholders as part of their statutory liability, but must come from the creditors at whose instance the receiver was appointed, Richmond v. Irons, 121 U. S., 27. 21. A State court can not order a receiver for a national bank, appointed by the Comptroller of the Currency, to pay a judgment recovered against the bank before the appointment of the receiver. Ocean National Bank v. Carll, 7 Him., 2S7; 1 N. B. C, 792. 22. A party claiming title to property in the possession of a receiver of an insolvent national bank, which came to his possession with other property belonging to the bank, may, upon his refusal to deliver the same, main REPORT OF THE COMPTROLLER OF THE CURRENCY. 117 RECEIVER—C on tinued. tain an action of replevin therefor. Corn Exchange Bank v. Blye, 101 N. Y., 303; 3 N. B. C., 634. 23. Such a proceeding is not prohibited by sec. 5242, Rev. St. Ib. 24. A court has no power, under sec. 5324, Rev. St., to order the receiver of a national Dank to compound debts which are not "bad or doubtful;" and a composition under such an order of debts not " bad or doubtful," as the debt of a shareholder arising on his subscription to the stock, is ineffectual. Price, Receiver of Venango National Bank, v. Yatcs, 19 Alb. L. J., 295; 2 N. B. C, 204. 25. A district court of the United States may order the receiver of a national bank to compromise doubtful debts under sec. 50 of the national banking act (13 St. at Large, 115), which authorizes receivers to compromise such debts "on the order of a court of record of competent jurisdiction." Petition of Plait, 1 Benedict, 534; 1 N. B. C, 181. 26. The receiver of a national bank appointed by the Comptroller of the Currency is an officer of the United States, and therefore the district court has jurisdiction of an action at common law to collect a claim due the bank at the time of the receiver's appointment. Plait v. Beach, 2 Benedict, 303; 1 N. B. C, 182. 27. The closing of a national bank by order of the examiner, the appointment of a receiver, and its dissolution by decree of a circuit court, necessarily transfer the assets of the bank to the receiver. Scott v. Armstrong, 146 U. S.,499. 28. The receiver in such case takes the assets in trust for creditors, and, in the absence of a statute to the contrary, subject to all claims and defenses that might have been interposed against the insolvent corporation. Ib. 29. A sale by a receiver of the property of a national bank, under an order of court, iu accordance with the provisions of sec. 5234, Rev. St., constitutes a judicial sale. In re Third National Bank, 4 Fed. Rep., 775. 30. Although the rights of a purchaser at a judicial sale are subject to the action of the court, yet such action must depend upon the general principles and usages of law. Ib. 31. Held, therefore, where a receiver had sold the property of a national bank, under an order of court, in accordance with sec. 5234, Rev. St., that such sale would not thereafter be set aside before confirmation upon a subsequent offer of an advance bid of $5,000 or $6,000, where a former sale of the same property had been set aside for inadequate price. Ib. 32. The Comptroller of the Currency has no power to compound or settle claims of a national bank against its debtors; that requires the authority of the court, under Rev. St., sec. 5234. Quaere: Can he direct their discontinuance? Case, Receiver, v. Small et al., 10 Fed. Rep., 722. 33. Appointments of receivers of national banks, made by the Comptroller of the Currency as provided by law, are to be presumed to be made with the concurrence or approval of the Secretary of the Treasury, and are made by the head of a department within the meaning of sec. 2 of article 2 of the Constitution of the United States. Price, Receiver, Y.Abbott; Same v. Colson, 17 Fed. Rep., 506. 34. Rece iver's certificates are not commercial paper, and the holder takes them subject to all equities between the original parties, even though he acquired them for value and without notice. Central National Bank of Boston v. Hazard et al., 30 Fed. Rep., 484. 35. When such certificates are negotiated at a discount, which the receiver is not authorized to allow, a subsequent bona fide holder will only be protected to the amount actually advanced by the first purchaser. Ib. 36. The receiver stands in the shoes of the bank and can assert no rights against the subscribers which the bank could not have asserted. Winters v. Armstrong ; Armstrong v. Stanage; Same v. Wood, 37 Fed. Rep., 508. 37. It is notnecessary that the facts upon which the Comptroller bases his action in appointing a receiver should be established by what is competent legal evidence; but he is left to be satisfied as best he can be, under the peculiar circumstances of each case, of the facts and the necessity for the exercise of his authority. Platt v. Bqebe, 57 N. Y., 330. 38. In an action to secure the application of part of the funds in the hands of a receiver of a national bank, appointed by the Comptroller of the Currency, in satisfaction of plaintiff's claim against the insolvent bank for money received by it as collecting agent, the bank is only a nominal party, for the receiver is the one to be held accountable for any unauthorized disposition of the money sued for. Grant v. Spokane Nat. Bank et al., 47 Fed. Rep., 673. 118 REPORT OF THE COMPTROLLER OF THE CURRENCY. RECEIVER—Continued. 39. The receiver of an insolvent bank may at any time dismiss an attorney employed by him, regularly or otherwise, to prosecute claims of the bank, and employ another in his place, whom the court will, by order, substitute in the place of the dismissed attorney, except as to such cases as the latter may have commenced and finished. In re Herman, 50 Fed. Hep., 517. 40. A contract having been entered into between the receiver and the attorney that the latter should receive the attorney's fees provided for in the notes he was employed to collect, the court Avill not direct the substitution of another attorney in unfinished cases until the receiver deposits the amount of the attorney's fees reserved in the notes as a security to the dismissed attorney for such services as he may have rendered. Ib. 41. Pub. St., Mass., eh. 13, sees. 8-10, provide that shares of stock in all banks. State and national, shall be taxed to the owners thereof, to be paid in the first instance by the bank itself, which, for reimbursement, shall have a lien on the shares and all the rights of the shareholders in 1he bank property : Held, That no suit for this tax can be maintained against the receiver of an insolvent national bank where the property represented by the shares has disappeared; for, there being nothing from which the receiver can be reimbursed, the tax will fall upon the assets of the bank, which belong to its creditors, and thereby violate the rule that a State can not tax the capital stock of a national bank. City of Boston v. Beal, 51 Fed. Be})., 306. 42. Pub. St., Mass., ch. 13, sees. 8,10, provide that shares of stock in all banks, State and national, shall be taxed to the owners thereof, to be paid in the first instance b,v the bank itself, which, for reimbursement, shall have a lien on the shares and all the rights of the shareholders in the bank property: Held, That no suit for this tax can be maintained against the receiver of an insolvent national bank where the property represented by the shares has disappeared. *City of Boston v. Beal, 55 Fed. Rep., 26. 43. The power vested in the Comptroller of the Currency by act June 30, 1876 (19 St., 63), authorizing him, whenever he becomes satisfied of the insolvency of a national bank, to appoint a receiver, is discretionary; and his decision as to such insolvency, for the purpose of such an appointment, is final, and not reviewable by the court. Washington National Bank v. Eckels et ah, 57 Fed. Hep., S70! 44. The right to put a national bank in voluntary liquidation, given to stockholders by Rev. St., sec. 522v). does not affect the right of the Comptroller to appoint a receiver under the act of June 30, 1876. Ib. 45. Xor does the act of 1876, providing that, after the receiver has had charge of the bank long enough to pay all its debts, the stockholders may select an agent to take charge of such assets as remain, limit the power of the Comptroller to take action before the bank ceases to do a banking business. Ib. 46. Section 1 of the act of 1876, authorizing the appointment of a receiver by the Comptroller to "close u p " a national banking association, contemplates the liquidation and final winding up of the business of the bank, not the mere closing of the bank, and does not limit the power of the Comptroller to take action before the bank has closed its doors. Ib. REDUCTION OF CAPITAL STOCK. See Capital stock. REPORT: See False entry. 1. A national bank is not required to conform the headings of the various accounts on its books to au^ prescribed names, nor to the names stated in the form of report prescribed by the Comptroller, and therefore when a report is called for, if the person making it enters, under the headings in the prescribed form a statement of the bank's condition, which is true with respect to the headings in said form, he has fulfilled the demands of the law. United States v. Graves, 53 Fed. Bep., 634. 2. The entry of "loans and discounts" in reports to the Comptroller does not guarantee the solvency of the makers of the paper, but is a statement that in truth and fact, at the date named in the report, the bank actually held and owned loans and discounts to the aggregate so reported. Ib. 3. Where the form of report, as prescribed by the Comptroller,- contains heading of u Loans and Discounts," and? also of "Overdrafts, " it is the duty of the bank officer to make his entries in such report in such manner that each of these headings shall truthfully state the condition of his bank as to such heading. Ib. 4. A director of a bank is personally liable to the bank on paper made to it by a firm of which he is a member, and, in making a report of the condition of the bank to the Comptroller, the amount of such paper should be entered under the heading of " Liabilities of directors (individual and firm) as payers." Ib. REPORT OF THE COMPTROLLER OF THE CURRENCY. 119 RESIDENCE : A national bank is a citizen of the State wherein it is located. Davis v. Cook, 9 Nevada, 134; 1 N. B. C, 656. RESTRAINING ACTS: National banking associations located outside of a State are subject to its restraining acts prohibiting all corporations, not authorized by the law of the State, from keeping therein offices for the purpose of discount and deposit.' National Bank of Fairhaven v. The Phoenix Warehousing Company, 6 Hun., 71. SAVINGS BANKS: After the act of June 30, 1876 (19 St., 63), savings banks organized in the District of Columbia under an act of Congress, and having a capital stock paid up in whole or in part, were entitled to become national banking associations in the mode prescribed by Rev. St., sec, 5154. Keyset' v. Hitz, 133 U. S., 138. SHAREHOLDERS: ^Assessment; Transfer of stock. 1. One who appears on the books of the association as the owner of shares of its stock is individually liable, though he hold the stock merely as collateral security. National Bank v. Case, 99 U. S., 628; Moore v. Jones, 3 Woods, 53; Bowdell v. Farmers and Merchants'' National Bank of Baltimore. 2 N. B. C, 146; Hale v. Walker, 31 Iowa, 344; Wheelock v. Kost, 77 III, 296. 2. And a subscription to stock of a national bank, and payment in full on the subscription anf. entry of the subscriber's name on the books as a stockholder, constitutes the subscriber a shareholder without taking out a certificate. Pacific National Bank v. Eaton, 141 U. S., 227. 3. If the trusteeship of one who holds stock in trust does not appear upon the books of the association he will be mdividually liable. Davis v. Essex Baptist Society, 44 Conn., 582. 4. The real owner of the stock is liable as a stockholder, though when he purchased the stock he had it transferred upon the books to another. Davis v. Stevens. 17 Blatch., 259. 5. While it is undoubtedly the rule as regards stockholders that one put upon the books as a stockholder without his consent can not be held for any liability in respect to such stock, yet where the person to whom the stock is transferred is a director of the bank, and is concerned in the management of its affairs, he must be presumed to have knowledge of the fact that the stock stood in his name, and if he has not repudiated the transfer to himself, is liable as the holder of such stock. Brown v. Finn, 34 Fed. Rep., 124. 6. A national bank, having so received stock of another national bank, was sued as a stockholder: Held, That loan by national bank on such security is not prohibited, and if it were, defendant could not avoid liability by its own illegal act. National Bank v. Case, 99 U. S., 628. 7. Where stockholder^ knowing that bank is to fail, collusively transfers his shares to an irresponsible person to avoid liability, his liability is not affected by such fraud. Bowden v Johnson, 107 U. S., 251. 8. A person who is entered on the books of a national bank as the owner of stock, but who is admitted to hold the stock in trust for the true owner, is not liable, as a stockholder, for the debts of the bank when the true owner has been adjudged so liable, although nothing is realized on the execution of such judgment. Yardley v. Wilgus, 56 Fed. Rep., 965. 9. Subscription to stock and payment in full and entry of name on books as a stockholder makes subscriber a shareholder without taking out a certificate. Pacific National Bank v. Eaton, 141 U. S., 227; Thayer v. Butler, ib., 234; Butler v. Eaton, Ib., 240. 10. A pledgee of stock who in good faith takes the security for his benefit in name of an irresponsible trustee for the avowed purpose of avoiding individual liability as shareholder, incurs no liability as such. Anderson v. Phila. Warehouse Co., Ill U. S., 479. 11. The statutory liability of a shareholder in a national bank for the debts of the corporation survives against his personal representatives. Richmond v. Irons, 121 U.S., 27. 12. Shareholder in national bank continues liable for the company's debts until his stock is actually transferred or certificate surrendered for that purpose; a delivery to the president of the bank as vendee, and not as president, is insufficient to discharge the shareholder. Ib. 120 REPORT OF THE COMPTROLLER OF THE CURRENCY. SPECIAL DEPOSITS : See Preferred claims. 1. A national banking association may receive special deposits. The provision in sec. 5228, Rev. St., authorizing an association " t o deliver special deposits/' implies that it may receive them as a j>art of its legitimate business; and this implication is as effectual as an expres's declaration to the same effect would have been. National Bank v. Graham, 100 U. 8., 699, 2. Section 5228, Rev. St., which provides that it shall be lawful for a national bank after its failure to *' deliver special deposits," is an effectual recognition of its power to receive them. Ib. 3. National bank is liable for damages occasioned by the loss through gross negligence of a special deposit made in it with knowledge and acquiescence of its officers and directors. Ib. 4. The taking of special deposits, to keep merely for the accommodation of the depositor, is not within the authorized business of national banks, and the cashiers of such banks have no power to bind them on any express contract accompanying, or any implied contract arising out of, such taking, Wiley v. The First National Bank of Brattleboro, 47 Vermont, 546; 1 N. B. C, 905. 5. A national bank whieh habitually receives special deposits for safe-keeping as matter of accommodation, is bound by the act of its cashier in receiving on special deposit a package of stocks and bonds. The bank, though acting without reward, becomes a bailee and is responsible for gross negligence. The Chattuhoochee National Bank v. Schley, 58 Georgia, 369; 1 N. B. C, 879. 6. If a person withdraws from a bank a special deposit, in pursuance of authority conferred upon him by the depositor, the bank is discharged, though at the time its officers were not aware of his authority. Ib. 7. Written authority indorsed on a certificate of deposit of stocks and bonds to pay a certain person dividends or coupons is no authority for surrendering the stocks and bonds themselves. Ib. 8. The power to receive special deposits is incidental to the business of banking. Pattison v. The Syracuse National Bank, 80 N. ¥., 82. 9. National banks, therefore, have power to receive special deposits gratuitously or otherwise; and, when received gratuitously, they are liable for their loss by gross negligence. Ib. 10. The term "special deposits" includes money, securities, and other valuables delivered to banks, to be specifically kept and delivered. It is not confined to securities held by the banks as collateral to loans. Ib. 11. The plaintiff delivered to the defendant bank $4,000 of United States bonds and received this writing: u Received of J. D. Whitney four thousand dol' lars, for safe-keeping as a special deposit. S. M. Waite, C." Held, That it was a naked deposit without reward; that the defendant wonld not be liable for the robbery or larceny of the bonds, unless there was complicity or bad faith; that it was answerable only for fraud or for gross negligence; that the law demands good faith and the same care of the plaintiff's bonds as defendant took of its own of like character. Whitney v. The First National Bank of Brattleboro, 55 Yt., 154. 12. An action against a bank for the conversion or the loss by gross negligence of valuable articles deposited with it as a bailee without hire can not be sustained on evidence from which the inference that the articles were stolen by servants of the bank, selected and continued in its employment without negligence, who in the proper course of business had access to them, is equally deducible with any other inference Smith v. First National Bank of Westfield, 99 Mass., 605. 13. In an action of trover against; a bank, after its reorganization as a national bank, for the value of certain special deposits in coin made prior thereto. Held, That the measure of damage was the value of the coin at the date of its conversion, with interest thereon. Coffey v. The National Bank of Missouri, 46 Mo,, 140; 1 N. B. C, 644. 14. To recover against a bank for bonds left with the bank as a gratis bailment, something more is needed than the mere fact that they were stolen from the bank. Wylie v. Northampton National Bank, 15 Fed. Bep., 428. 15. And where an association receives United States bonds of one class for the purpose of having them converted into bonds of another class, it is not a mere mandatary, but is responsible for the failure to deliver the bonds on demand. Leach v. Hale, 31 Iowa, 69. 16. An insolvent was cashier of a bank, to which he was largely indebted, and put certain of his own securities in a package, and placed it with similar bundles left with the bank as special deposits for safe keeping. It REPORT OF THE COMPTROLLER OF THE CURRENCY. 121 SPECIAL DEPOSITS—Continued. was insolvent's intention in this manner to pay certain drafts securing his indebtedness to the bank, and these drafts were entered on the books as paid, and the item of bonds of the bank was increased to the extent of the value of these securities. The securities were not indorsed by insolvent, and the other officers of the bank had no knowledge of the transactions: Held, That no property in the securities was transferred to the bank. Witters v. Sowles et al., 33 Fed. Rep., 542. 17. A national-bank president, against whom an indictment was pending for violating the banking laws, brought a bill against the receiver of the bank to obtain possession of a trunk alleged to contain private papers. To this proceeding the United States district attorney was made a party defendant on his own petition, for the purpose of claiming the papers, in order that they might be laid before the grand j ury. After hearing, a decree was made appointing a special master to make a private examination of the trunk, with directions to turn over to the complainant any papers belong• ing to him, and to the receiver such papers as belonged to the bank and were not material to the prosecution against the president, and to reserve for further consideration such us concerned bank transactions, and were" material to the prosecution: Held, That in so far as the decree directed papers to be turned over to the president and the receiver, it was final and appealable, since such papers might thus pass entirely beyond control of the other party claiming them. Potter v. Beal et al., 50 Fed. Rep., 800. 18. It was improper to make the district attorney a party defendant for the purpose of procuring the papers to be laid before the grand jury. The proper course was for him to obtain a subpoena duces tecum from the court in which the investigation was pending, and then to make summary application to the court which had impounded the papers. Ib. 19. Under the circumstances, the order made by the court for an examination of the papers by a special master was in violation of the fundamental and constitutional rights of the litigants as to the method of trial. //;. 20. It appearing that before the bill was brought the trunk had been opened by consent of the president of the bank and the receiver, and certain papers taken out in the presence of third persons, one of whoin thereby obtained some knowledge of its contents, it was in the power of the court to ascertain by private examination the nature of the evidence thus to be had, and if it proved prima facie admissible, to allow public testimony thereof to be given. Ib. 21. To constitute an equitable assignment of property, there must be an .appropriation or separation, and the mere intent to appropriate is not sufficient. Putnam Savings Bank v. Beal, 54 Fed. Rep., 577. 22. Plaintiff bought of a bank $25,000 of five-year city of Duluth bonds and paid the $25,000. The bank, not having in its possession enough of the five-year bonds, proposed to set aside $17,000 five-year bonds and $8,000 one-year bonds, and to exchange the latter for five-year bonds as soon as received. A clerk was directed to make a package of such bonds, and mark it with plaintiff's name, and set it aside as his property, and the officers of the bank supposed this had been done. When defendant, as receiver, took possession of the bank, there were found two packages of bonds. The first package contained $18,500 five-year bonds, with a slip of paper on which was written a memorandum, " Property of Putnam Ct. Sav. Bank; 6,500 more due them five year bonds." The second package contained bonds amounting to $23,611.50, of which three, amounting to $10,255.90, had one year to run; six, amounting to $2,280.81, had five years to run; the remaining bonds running two, three, and four years. With this package was a slip of paper on which was written a memorandum of the date, amount of bonds, and the time when due, and also the words, u6,500 due Putnam.'' Held, That these facts did not show an equitable assignment by the bank to the plaintiff of the remaining $6,500 worth of bonds. Ib. 23. Where a national bank was broken into by burglars, and property belonging to it and to others was taken therefrom, the bank may take measures to recover its own; and it may lawfully undertake to act also for others thus jointly concerned with itself; and want of proper diligence, skill, and care in the performance of such an undertaking would render it liable to respond in damages for failure. Wylie v. Northampton National Bank, 119 U. S., 361; 3 N. B. C, 1S8. 24. Gratuitous bailees of another's property are not responsible for its loss unless guilty of gross negligence in its keeping; and whether that negligence existed is a question of fact for the jury to determine or to be determined, by the court where a jury is waived. Preston v. Prather, 137 U. S., 604. 122 REPORT OF THE COMPTROLLER OF THE CURRENCY. SPECIAL DEPOSITS—Continued. 25. Tho reasonable care which a. bailee of another's property intrusted to him for safe keeping Avitlioi.it reward must take varies with the nature, value, and situation of the property and the bearing of surrounding circumstances on its security. Ib. 26. Persons depositing Araluable articles with banks for safe keeping without reward have a right to expect that such measures will be taken as will ordinarily secure them from burglars outside and from thieA^es within; that whenever ground for suspicion arises an examination will be made to see that they have not been abstracted or tampered with; that competent men, both as to ability and integrity, for the discharge of these duties will be employed, and that they Avill be removed whenever found wanting in either of these particulars. Ib. 27. In this case persons engaged in business as bankers received for safe keeping a parcel containing bonds, Avhich was put in their vaults. They were notified tln>t their assistant cashier, who had free access to the vaults where the 1 onds were deposited, and who Avas a person of scant means, was engaged in speculations in stocks. They made no examination as to the securities deposited with them, and did not remove the cashier. He stole the bonds so deposited: Held, That the bankers were guilty of gross negligence, and Avere liable to the owner of the bonds for their value at the time they were stolen. Ib. 28. When bonds originally deposited with a bank for safe keeping are by agreement of the bailor and bailee made a standing security for the payment of loans to be made by the bank to the owner of the bonds, the bailee becomes bound to give such care to them as a prudent owner would extend to his own property of a similar kind. Ib. TAXATION : 1. A State can not tax the capital stock of a national bank as such. The tax must be assessed upon the shares of the different stockholders. Collins v. Chicago, 4 Bus., 472. 2. Under Rev. St., sec. 5219, which declares that nothing in the nationalbanking act shall prevent all the shaves of stock of a national bank from being included in the assessment of the personal property of the owners of such shares, an assessment of the entire stock of a national bank in solldo against the bank itself is invalid. National Bank of Virginia v. City of Richmond et al., 42 Fed. Hep., 877. 3. The assessment of the entire capital stock of a national bank in solido against the bank itself is invalid. The bank may pay the tax assessed upon the shares of its different stockholders, and it Avill have a lien, thereon when it pays such tax until the same is satisfied; but if for any cause the tax levied upon the different stockholders is not paid by the bank, the property of the indiAridual stockholders will be liable therefor. First National Bank of LeoliY. Fisher, 45 Kans., 726. 4. The individual stockholders of a national bank are allowed the same deductions from the assessment against them upon their shares of stock as other taxpayers in the 7State, owning moneyed capital, are allowed. Ib. 5. "Moneyed capital ' in Rev. St., sec. 5219, embraces capital employed in national banks and that used by individuals in business for protit by use of it as money, but does not include that in the hands of a corporation, even if its business be such as to make its shares moneyed capital when in the hands of individuals, or if it invests its capital in securities payable in money. Mercantile Bank v. New York, 121 V. S., 138; Newark Bank Co. v. Newark, Ih.y 163; TalbotY. Silver Bow County, Montana, 139 U. S., 438. 6. Laws, N. Y., ch. 596, sec. 3, which pi%0Arides that the stockholders in banks anil trust companies organized under the authority of the State or of the United States shall be assessed for the value of their shares of stock, but which omits to provide for the taxation of the shares of stock in other private corporations, does not contravene Rev. St., sec. 5219, which forbids tbe taxation of shares of national banks at a greater rate than is assessed on other "moneyed capital" in the hands of the individual citizen of the State. Palmer v. McMahon, 133 U. S., 660; Central National Bankv. United Stales, 137 U. 8., 355. 7. The shares of a national bank are taxable to the owners, and the bank is not liable, primarily or as the agent of the shareholders, under the act of Congress or of the various laws of the State or Territory, for the payment of a tax levied upon such shares ; but if such bank, through its proper officers, voluntarily lists such shares as the property of the bank for taxation, and the taxing officers of the State or Territory, in pursuance of such erroneous REPORT OF THE COMPTROLLER OF THE CURRENCY. 123 TAXATION—Continued. listing, tax the same in the name of the bank, equity will not relieve the bank from the payment of such tax by enjoining its collection in the absence of proper application to all the statutory tribunals authorized to hear such matter and determine and grant the proper relief. Albuquerque National Bank v. Perea, 147 U. S., 87. 8. The entire interests of the shareholders may be taxed without any deduction for that portion of the capital which is invested in United States securities. Van Allen v. The Assessors, 3 Wall., 578. 9. New shares issued by a national-banking association can not be taxed until the increase of capital has been approved by the Comptroller of the Currency. Charleston v. People's National Bank, 5 S. C.,123. 10. The manifest intention of the law is 1o permit the State in which a national bank is located to tax, subject to the limitations prescribed, all the shares of its capital stock without regard to their ownership; and, therefore, a national bank may be taxed upon the shares which it holds m another national bank. Bank of Redemption v. Boston, 126 U. S., 60. 11. The undivided surplus of a national-banking association, unless invested in Federal securities, may be lawfully taxed by the State. North Ward National Bank of Newark v. City of Newark, 10 Vroom., 380; First National Bank v. Peterborough, 56 N. H., 38. 12. But, of course, if the surplus is taken into consideration in estimating the taxable value of the shares, it is not to be taxed separately. North Ward National Bank v. City of Newark, supra. NOTE. —But it has been held in Maryland that the stock of an association represents its whole property, and where a tax is assessed upon the shares a separate tax upon the real or personal estate amounts to double taxation; and, therefore, where the organic laws of the State prohibit double taxation, such a tax upon the property of an association is void. County Commissioners v. Farmers and Mechanics1 National Bank, 48 Md., 117; National State Bank v. Young, 25 Iowa, 311, wherein it was held that the State^could tax only the shares eo nomine and the real estate. 13. The surplus fund of a national-banking association is not excluded in the valuation of its shares for taxation. Stafford National Bank v. Dover, 59 N. B., 316. 14. Where shares of stock are assessed at their actual cash value, without any deduction for the real estate owned by the association, ^he real estate should not be taxed eo nomine. Commissioners of Rice County v. Citizens' National Bank of Faribault, %3 Minn., 280. 15. Real estate owned by a bank constitutes part of its assets, within the meaning of Code of Mississippi providing that banks shall pay a privilege tax, whoso amount varies with their " capital stock or assets," in lieu of all other taxes. Ficksburg Bank v. Worrell, 7 So., 219. 16. The State can not tax the circulating notes of national-banking associations. Home v. Greene, 25 Miss., 452; contra, Board of Commissioners v. Elsion, 82 Ind., 27; Muffin v. Board of Commissioners, 69 N. C, 498; Lily v. The Commissioners, 69 N. C, 300. 17. Where the State banks are taxed upon the capital, no tax can be imposed upon the shares of national-banking associations; for, as the capital of the State banks may consist of the bond** of the United States, which are exempt from State taxation, a tax on capital is not equivalent to a tax on shares. Van Allen v. The Assessors, 3 Wall., 573; Bradley v. The People, 4 Wall., 459. 18. Bnt though the tax upon the State banks is not eo nomine a tax on shares, yet if it is equivalent to such a tax the shares in the national-banking associations located in that State may be taxed. Frazer v. Seibern, 16 Ohio St., 614; Van Slyke v. State, 23 Wis.) 656; Boynoll v. State, 25 Wis., 112. 19. Where by local legislation different rates are prescribed for different classes of moneyed capital, the rate imposed upon shares of national banks should approximate as closely as may be the rate imposed upon other moneyed capital of the same or similar class, viz, shares of State banks. City National Bank v. Paducah,5 Cent. L. J., 347; 1 N. B. C.,300. 20. Congress meant no more than to require of the States, as a condition to the exercise of the power to tax the shares in national banks, that they should, as far as they had the capacity, tax in like manner the shares of banks of issue of their own creation. Lionberger v. Rouse, 9 Wall., 468. 21. Therefore, where a State has previously contracted with the banks which it has chartered that they shall not be taxed above a certain rate, a tax upon national-bank shares at a greater rate is not invalid, if this rate is not greater than that assessed upon all the moneyed capital within the State, except that of the State banks. Ib. 124 REPORT OF THE COMPTROLLER OF THE CURRENCY. TAXATION—Continued. 22. Any system of assessment of taxes which exacts from the owner of the shares of a national-banking association a larger sum in proportion to the actual value of those shares than it does from other moneyed capital, valued in like manner, taxes the shares at a greater rate, notwithstanding that the percentage of tax on the valuation is the same as that applied to other moneyed capital. Pelton v. Commercial National Bank, 101 U. S., 143. 23. In estimating the value of vthe shares for the purpose of taxation reference may be had to all the property and values of the bank. St. Louis National Bank v. Papin, 3 Cent. L. J., 669; 1 N. B. C, 326. 24. If no excessive valuation is complained of, and a correct result is arrived at, equity will not restrain the collection of a tax because the method of computation was erroneous. Ib. 25. The shares may be valued for taxation at an amount exceeding their face value, if this amount is not at a greater rate than the valuation set upon other moneyed capital in the State. Hepburn v. School Directors, 23 Wall., 480. 26. Under the statute of New York, shares in national-banking associations should be taxed at their real or market value. People v. The Commissioners of Taxes and Assessments, 94 U. S., 415. 27. Where shares in national-banking associations are purposely valued proportionately higher than the other moneyed capital in the State, the assessment is void. Pelton v. National Bank, 101 U. S., 143. 28. And the collection of what is in excess of the rate imposed on the other moneyed capital may be enjoined. Ib. 29. A State statute creating a system of taxation of banks which does not discriminate against national banks is not unconstitutional. Ib.; Davenport Bank v. Davenport, 123 U. S.f 83. 30. Section 5219, Rev. St., does not require perfect equality between State and national banks, but only a system of taxation which shall work no discrimination between them. Ib. 31. The inteution of Congress was that the rate of taxation of tfee shares should be the same as, or not greater than, the tax upon the moneyed capital of the individual citizen which is subject and liable to taxation. People v. The Commissioners, 4 Wall., 244. 32. The fact that by the statutes creating them, which statutes were passed prior to the national-banking law, State banks are entirely exempt from taxation will not render a tax upon the shares of national-banking associations void. City of Richmond v. Scott, 48 hid., 568. 33. And a State tax upon shares in national-banking associations is not rendered invalid by an exemption of the shares of other corporations the capital of which consists of property required to be listed for taxation as such. Mclver v. Robinsonf 53 Ala., 456. 34. Merely a partial exemption of other moneyed capital will not invalidate a tax upon shares in national-banking associations. Hepburn v. School Directors, 23 Wall., 480. 35. But though Congress did not contemplate that there should be an absolute equality (which in the nature of things is impossible), yet it did intend that there should be a substantial equality; and therefore if the exemptions in favor of other uioneyed capital are so palpable as to show that there is a serious discrimination against capital invested in the shares of national-banking associations, the tax will be declared unlawful. Boyer v. Boyer, 113 U. S., 690. 36. A State law which does not permit a deduction to be made from the assessad value of bank shares for all debts due by the holder thereof, while authorizing such a deduction to be made from the assessed value or moneyed capital otherwise invested, is void. People ex rel. Williams v. Weaver, 100 U. S., 539, reversing S. C, 67. N. Y., 516, and overruling People v, Dolan, 36 N. Y., 59. ' 37. In the assessment and taxation of shares of national-bank stock, the owners thereof having no other credits or moneyed capital are entitled to deduct their bona tide debts from the value of such shares of stock. Wasson v. Bank, 8. N. E., 97. 38. Rev. St., sec. 5219, providing that shares of national-bank stock may be taxed as a part of the personalty of the owner and that each State may tax them in its own manner, except that the taxation shall not be at a greater rate than is imposed on other " moneyed capital" owned by citizens of the State and that the shares of nonresidents shall only be taxed in the city wherein the bank is located, do not authorize the taxation of the stock of a bank in solido by the city in which it does business j but REPORT OF THE COMPTROLLER OF THE CURRENCY. 125 TAXATION—Continued. only the shares of individual owners residing in the city are taxable, and they must he taxed separately, in order that the owner may deduct from their value the amount of his personal indebtedness, where the State laws or municipal ordinances permit such deductions and require equality of taxation. First National Bank of Richmond v. City of Richmond et al., 39 Fed. Rep., 309; Whitbeckv. Mercantile Bank, 127 U. S., 193. 39. The main purpose of Congress in fixing limits to State taxation on investments in the shares of national banks was to render it impossible for the State in levying such a tax to create and foster an unequal and unfriendly competition by favoring institutions or individuals carrying on similar business and operations and investments of a like character; and the language of the law is to be read in the light of this policy. And therefore the exemption of shares of stock in corporations the business of ivhich does not come into compeiiiion with that of the national bank (e. g., railroad companies, mining companies, manufacturing companies, and insurance companies) does not invalidate a tax upon national-bank shares. Capital thus employed is not "moneyed capital" within the meaning of the act of Congress. Mercantile Bank v. New York, 121 U. S., 138; Newark Bank Co. v. Newark, Ib., 163; Bank of Redemption v. Boston, 125 Ib., GO. 40. The bonds of municipal corporations are not within the reason of the rule established by Congress for the taxation of national banks. Central National Bank v. United States, 137 U. S., 355. 41. Although deposits in savings banks constitute moneyed capital in the hands of individuals within the terms of any definition which can be given of that phrase, yet they are not within the meaning of the act of Congress in such a sense as to require that, if they are exempted from taxation, shares of stock in national banks must thereby also be exempted from taxation; for it can not be supposed that savings banks come into any possible competition with national banks. Mercantile Banker. New York, 121 U. S., 138; Newark Bank Co. v. Newark, Ib., 163; Bank of Redemption v. Boston, 125 Ib.,60. 42. Under act Louisiana, 1888, sec. 27, relating.to taxation of national-bank shares, making no deduction for that part of the bank's property entering into their value which consists of nontaxable State and national securities, which deduction may, under the act, be made by individuals, a tax on national-bank shares violates Rev. St., sec. 5219, prohibiting the assessment of such shares at a greater rate than moneyed capital in the hands of individual citizens; and it is immaterial that the same discrimination is made against other corporations. Whitney National Bank v. Parker, 41 Fed. Rep., 402. 43. The taxation of national-bank shares by the statute of Indiana without permitting the owner of them to deduct from their assessed value the amount of his bona fide indebtedness, as he may in the case of other investments of moneyed capital, is a discrimination forbidden by the act of Congress. Britton v. Fvansville National Bank, 105 U. S., 322. 44. Section 5219 prohibits an adverse discrimination by a local government in the valuation of national-bank stock for assessments as compared with an assessment by the same government for the same year of other moneyed capital invested so as to make a profit from the use thereof as money. Puget Sound National Bank of Seattle v. King County et al.,57 Fed. Rep., 433. 45. The State has a right to resort to the bank as a garnishee for the collection of its claims against stockholders for taxes, and legislation may require assessment of stock to be made to the bank in solido. First National Bank of Aberdeen v. Chehalis Co. etal, 32 P., 1051. 46. The nontaxation of credits of individuals, such as accounts, promissory notes, and mortgages, is not unlawful discrimination against national banks whose capital is taxed. Ib. 47. A State tax upon shares is valid, though the tax is collected from the bank. National BankY. Commonwealth, 9 Wall., 353. 48. And the State may require the banks to pay a tax rightfully laid upon the shares. Ib. 49. And where the tax on shares is payable by the association the collection of the tax may be enforced by distraint of its property. First National Bank v. Douglas County, 3 Dill., 330. 50. But where the tax laws of the State make the bank the mere agent for paying the tax on shares, and direct it to retain so much of the dividends as will answer that purpose, other agents being required to pay taxes for their principals only when they have under their control the property, money, or credit of such principals, the bank can not be made liable unless 126 REPORT OF THE COMPTROLLER OF THE CURRENCY. TAXATION—Continued. it has the control of the property, etc., of its shareholders, or has dividends in its possession or has failed to retain them. Hershire v. First National Bank, 35 Iowa, 272. 51. Act Louisiana, 1888, sec. 27, providing that shares in banks shall he assessed to shareholders, but requiring the bank to pay taxes so assessed and authorizing it to collect the same from the shareholders, imposes a tax, not upon the bank, but upon its shares, as permitted by act of Congress providing that a State may determine the manner of taxing the shares of national banks located in the State. Whitney National Bank v Parker, 41 Fed. Rep., 402. 52. National-banking associations can not be subjected to a license or privilege tax. Mayor v. First National Bank of Macon, 59 Ga., 648. 53. Municipal officers can not assess a tax upon the shares of national-banking associations until authorized to do so by some law of the State. Stetson v. City of Bangor, 56 Me., 274. 54. The officers of a national-banking association can not be compelled to exhibit to the taxing officers of a State the books of the association showing the deposits of its customers. Firqt National Bank of Youngstown v. Hughes, 2 N. B. C, 176. 55. The tax imposed on State or national banks paying out the notes of individuals or State banks for circulation is constitutional. Veazie Bank v. Fenno, 8 Wall., 533. 56. So is the tax imposed on them for paying out the circulating notes of munici p a l c o r p o r a t i o n s . Merchants7 National Bank of Little Rook v. United States, 101 II. S.y I57. Such a tax is not a direct tax within the meaning of the clause of the Constitution which declares that " direct taxes shall be apportioned among the several States according to their respective numbers/' Veazie Bank v. Fenno, and Mechanics7 National Bank of Little Rook v. United States, supra. 58. Where the tax on shares is collected from the association it may bring a suit to enjoin the collection of an illegal tax. Cummin g 8 v. National Bank, 101 U. S., 153; Peltonv. Commercial National Bank, 101 U. S., 143; Boyer v. Boyer 113 U. S., 143. 59. The imposition of a tax upon the shares of the bank according to the Louisiana statute, which requires the bank to pay the tax and then look to the dividends upon the shares and to the stockholders for reimbursement, is a tax upon the bank itself. Citizens1 Bank of Louisiana v. Board of Assessors, 54 Fed. Rep., 73. 60. In 18^6 the State of Tennessee granted to the Bank of Commerce a charter which provides that the bank "shall have a lien on the stock for debts due it by the stockholders and shall pay to the State an annual tax of one-half of one per cent on each share of capital stock, which shall be in lieu of all other taxes:" Held, That this charter exempts from taxation the property of the bank as well as the individual property of the shareholders in the corporate stock and its shares, and such construction is not affected by the fact that the United States Supreme Court decided that the charter tax was a tax on the shareholder only, and an exemption therefore of the shareholder, since such decision does not exclude from the exemption the corporation and its property. State of Tennessee et al. v. Bank of Commerce et ah, 53 Fed. Rep., 735. 61. When the statute requires property to be assessed for taxation at#its cash value, a bill to enjoin the collection of a tax solely on the ground that the property of other persons is assessed below its cash value, can not be maintained by a pers.on whose property is also assessed below that value. Albuquerque National Bank v. Perea, 147 U. S., 87. 62. Massachusetts laws for taxation of national banks do not deny them the equal protection of the laws guaranteed by the Constitution, nor impose an unequal tax in violation of the constitution of that State. Bank of Redemption v. Boston, 125 U. S., 60. 63. If a bank by mistake declares a dividend or adds to its surplus when it is not in condition to do so, such dividend is subject to taxation and the mistake can not be corrected in action to recover the tax. Central National Bank v. United States. 137 U. S., 355. 64. When an assessment on national-bank stock for taxation by a State is not made in contravention of the Federal Constitution or laws. Palmer v. McMahon, 133 U. S., 660. 65. The same power of taxation in respect to national banks exists in the Territories that does in the States. Talbott v. Silver Bow County, 139 U. S., 138. REPORT OF THE COMPTROLLER OF THE CURRENCY. 127 TAXATION—Continued. 66. When increase in valuation of national-bank shares over that of the moneyed capital of individuals is a discrimination forbidden by Rev. St., sec. 5219. Whitbech v. Mercantile Batik, 127 U. IS., 193. 67. Act of 1864, "to provide a national currency," etc., subjects shares of banks authorized by it to taxation by States, though part or whole of capital is invested in national securities exempt from State taxation, and is constitutional. Van Allen v. Assessors, 3 Wall., 573. 68. New York act of 1865, subjecting shares of national banks to taxation, but not providing that the tax should not exceed rate imposed on State banks, is void, as there was no tax on shares of State banks—only on the capital. Ib. 69. Shares of stock in national banks are personal property, and the law creating them could give them a citus of their own, apart from owners, for purpose of taxation. This was done by act of 1864, sec. 41. Tap pan v. Merchants' National Bank, 19 Wall., 490. 70. State statutes taxing shares without permitting owner to deduct his indebtedness, as allowed to owners of other personal property, make a discrimination forbidden by acts of Congress. Supervisors v. Stanley, 105 U. S., 305; Evansville Bank v. Britton, Ib., 322. 71. State statute is not void which requires, for purposes of taxation, that the cashier of each national bank within the State transmits to clerks of several towns in State a true list of its stockholders residing there. Waitev. Bowley, 94 U. S., 527. 72. National-bank shares can not be subjected to State taxation where a large part relatively of other moneyed capital in hands of individual citizens in same taxing district is exempted. Boyer v. Bayer, 113 U. S., 689. 73. Bank may, on behalf of stockholders, maintain suit to enjoin collection of State tax unlawfully assessed on shares. Hills v. Exchange Bank, 105 U. S., 319. 74. Act of 1866, taxing everj^ national bank or State bank on the amount of State-bank notes paid out is the proper restraint on the circulation of such notes. Veazie Bank v. Fenno, 8 Wall., 533. 75. A national bank located in New Jersey, for the convenience of persons in Philadelphia, keptaclerk in that city who'reeeived deposits: Held, That the bank did not become located in Philadelphia so as to be liable to taxation. National Slate Bank of Camden v. Pierce, 18 Albany Law Journal, 16; 2 N. B. C, 177. 76. The act of Congress of June, 1864, in relation to the taxation of national bank*, does not curtail State power as to the subject of taxation, or cutoff the right to except certain kinds of property if a legislature chooses to do so. Its only object is to prevent unfriendly discrimination against national banks. Adams v. Mayor, etc., of Nashville, 95 U. £., 19. 1 N. B. C, 148. 77. Section 1003 of chapter 53 of the fifth division of the revised statutes of Montana Territory, as amended by the act of February 22, 1881, Laws of 1881, page 67, is not in conflict with Rev. St., sec. 5219. Ib. 78. Under the general Territorial system, as expressed in the various organic • acts, the power of taxation is absolute, save as restricted by the Constitution or Congressional enactments. Ib. 79. A city has no power to exact a license fee from a national bank. City of Carthage v. First National Bank of Carthage, 2 N. B. C, 279; 71 Mo., 508. ' 80. It is no ground for annulling an assessment on shares of bank stock under acts 1890, No. 106, sec. 27, that the list of shareholders appears in a different part of the assessment book from where the amount is noted. Castles v. City of New Orleans, 15 So., 199. 81. Where the State board of tax commissioners raised the assessment on plaintiff's property without an appeal from the county board of review, the action was void and the collection of the tax on the increased value should be enjoined. First National Bankv. Brodhecker, 37 N. E., 340. 82. While a State bank is changing to a national bank, and before the requirements of the State statute are fully complied with, it is subject to State taxation. Commonwealth v. Manufacturers and Mechanics7 Bank of Philadelphia, 2 Pearson's Decisions, 386; # N. B. C, 459. 83. National banks are not liable to a privilege tax imposed by city ordinance on occupations and business transactions, although "banks and banking" are in terms included. National Bank of Chattanooga v. Mayor, 8 Heiskell, 814; IN, B. C.,903. 84. An assessment upon national-bank stocks is not violative of a constitutional provision declaring that taxation shall be equal and uniform, though in such assessment the owners of such stocks are denied the right to deduct from the value of such shares the amount of capital invested by the bank 128 REPORT OF THE COMPTROLLER OF THE CURRENCY. TAXATION—Continued. 85. 86. 87. 88. 89. 90. 91. 92. 93. 94. 95. 96. in United States bonds and legal-tender notes, and such a deduction is given to private bankers. Adair, tax collector, v. Robinson, ei al., 25 S. W., 734. Nor is such an assessment for this reason in violation of the Federal statute. Ib. Two banks, against whose stock illegal taxes have alike been separately assessed, can not join in a suit to enjoin the collection. Jones v. Rushville National Bank, 37 N. E., 338 ; Conzman v. First National Bank, Ib., 392. Act March 6, 1891, p. 199, sec. 114, empowers the county board of review to equalize valuations and correct lists, fixing true cash values, and, after notice, equalizing values. Section 125 allows appeals to the State board of tax commissioners, who shall have all the powers conferred on county boards of review: Held, That the State board has not original jurisdiction to fix assessments other than its express power over railroad property. Ib. Banks may sue to enjoin collection of an illegal tax assessed against them on their stock. Ib. Where the tax laws of a State deny to the holders of national-bank stock the right to deduct from the value of their shares their bona fide indebtedness, while conferring this right upon other moneyed capital, an assessment upon national-bank stock will be void. Mercantile National Bank v. Shields, 59 Fed. Hep., 952. It is immaterial that such deductions are not allowed to the holder of stock in railroad, insurance, and manufacturing corporations, since such stock is not regarded as "moneyed capital." Ib. Nonresident stockholders are entitled to the same deductions as resident stockholders. Ib. The tax laws of Ohio do not authorize the deduction from the value of shares in a national bank, entered on the duplicate for taxation, of legal, bona fide debts owing by the holder of such shares of stock. Niles v. Shaw, 50 Ohio St., 370; 34 N. E., 162. A tax levied on the property of a national bank subsequent to its insolvency is subordinate to the rights of a receiver appointed after such levy. Woodward v. Ellsworth, 4 Colo., 580; 2 N. B. C, 216. No suit for the collection of a tax under State statutes imposed upon the shares of stock of a national bank can be maintained against the receiver of an insolvent national bank where the property represented by the shares has disappeared; for, there being nothing from which the receiver can be reimbursed, the tax will fall upon the assets of the bank, which belong to its creditors, and thereby violate the rule that a State cannot tax the capital stock of a national bank. City of Boston x.Beal, 51 Fed. Rep., 306. No suit can be maintained against the receiver of an insolvent national bank where the property represented by the shares has disappeared, under a statute which provides that shares of stock in all banks, State and national, shall,be taxed to the owners thereof, to be paid in the first instance by the bank itself, which for reimbursement shall have a lien upon the shares and all the rights of the shareholders in the bank property. City of Boston \*. Beal, 55 Fed. Rep., 26. The personal assets and personal property of an insolvent national bank in the hands of a receiver appointed by the Comptroller of the Currency, in accordance with the provision of sec. 5234, Rev. St., are exempt from taxation under State laws. Rosenblatt v. Johnston, 104 U. S., 462; 3 N. B. 97. The following act of Congress relative to the taxation of currency was approved August 13, 1894: Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled^ That circulating notes of national-banking associations and United States legal-tender notes and other notes and certificates of the United States, payable on demand and circulating or intended to circulate as currency, and gold, silver, or other coin shall be subject to taxation as money on hand or on deposit under the laws of any State or Territory: Provided, That any such taxation shall be exercised in the same manner and at the same rate that any such State or Territory shall tax money or currency circulating as money within its jurisdiction. SEC, 2. That" the provisions of this act shall not be deemed or held to change existing laws in respect of the taxation of national-banking associations. KE.PORT OF THE COMPTROLLER OF THE CURRENCY. 129 TRANSFER OF STOCK: See Sliareholders; Assessments. 1. The transfer of shares in national-banking associations is not governed by different rules from those which are ordinarily applied to the transfer of shares in other corporate bodies. Johnson v. Laflin, 103 TJ. S., 800. 2. The entry of the transaction in the books of the association is required, not for the translation of the title, but for the protection of the parties, and others dealing with the association, and to enable it to know who are its stockholders. Ib. 3. A shareholder in a. national bank, while it is a going concern, has the absolute right, in the absence of fraud, to make a bona tide and actual sale and transfer of his shares at any time to any person capable in law of purchasing and holding the same, and of assuming tho transferor's liabilities in respect thereto; and this right is not in such, cases subject to the control of tho directors or other stockholders. Johnson v. Laflin, 5 Dill., 65. 4. Under tho pretense of prescribing the manner thereof, an association can not clog tho transfer with nseles3 restrictions. Ib. 5. When a shareholder, acting in good faith, delivers bis certificates of stock, with a blank power of attorney for making the transfer, and receives the purchase money, the sale is complete and the title passes. Ib. 6. A shareholder who disposes of his stock will continue to be liable thereon until the transfer is noted on the books of the association. Bowdell v. Farmers and Merchants' National Bank of Baltimore^ 2 N. B. C, 146. 7. Where a national-banking association purchases shares of its own stock, and divides them among its directors, to whom the shares aro transferred upon the stock books, the transaction is void, and no title passes. Meyers v. Valley National Bank, IS National Bankruptcy Register, 34; 2 N. B. C., 156. 8. A national-banking association can not acquire a lien on the stock of a shareholder. And a by-law prohibiting a transfer until all liabilities of tho shareholder to the association are discharged, or a provision to that effect in the certificates of stock, is void. Bullardv. National Bank, IS Wall., 589: Bank v. Larder, 11 Wall., 369; Conklin v. The Second National Bank, 45 N. Y., 655. 9. An intending purchaser of bank stock is entitled to rely upon a statement of its president as to tho bank's condition without inquiring further. Merrill v. Florida Land and Improvement Company, 60 Fed. Hep., 17. 10. In an equitable action to enforce specific performance of an agreement to sell shares in a national bank, which tho purchaser wished to obtain for the purpose of securing control of the bank: Held, That specific performance would not be decreed (1) because, generally, equity will not enforce specific execution of a contract relating to personal chattels, and (2) because a. decree enforcing tho agreement in question would bo against public policy. Foil's Appeal, 21 Alb. L. J., 27; 2 N. B. C, 411. 11. Where a shareholder who lias sold his stock has delivered to tho bank the certificate of stock and a power of attorney, with the request that tho transfer be made upon the books of the bank, and has had no reason to supposo that such transfer was not made, ho will not, should the bank afterwards become insolvent, be held liable as a shareholder, although ho still appears as such on tho books of the bank. Whitney v. Butler, 118 TJ. S., 655. 12. But where tho president of the bank is himself the purchaser of the stock, then tho delivery of tho certificates and power of attorney to him with tho request to mako the transfer upon the books of tho bank would not be sufficient to discharge the seller from liability as a stockholder. Richmond v. Irons, 121 TJ. S.,27. 13. Where a shareholder of a national bank makes a bona iido sale of his stock and goes with tho purchaser to the bank, indorses tho certificate, and delivers it to tho cashier of the bank, with directions to make the transfer on the books, he has done all that is incumbent upon him to dischargo his liability, and he is not liable, though tho cashier failed to make the transfer, upon the subsequent suspension of the bank, for an assessment made by the Comptroller of the Currency, under Rev. St., sec. 5151, to pay the bank's debts. Hayes v. Shoemaker, 39 Fed. Rep., 319. 14. A transfer of shares for the purpose of avoiding liability, though made " out and out," is void. National Bank v. Case, 99 TJ. S., 628; Bow den v. Santos, 1 Hughes, 158. 15. And where a shareholder, who has knowledge of tho insolvent condition of tho bank, transfers Lis shares, without consideration, to a person unable to respond to the assessment, t'he transfer may be set aside. Bowden v. Johnson, 107 TJ. S.,251. 16. Title to stock passes on delivery of certificates to purchaser with authority to have shares transferred on books of bank. Johnston v. Laflin, 103 U. S.t 800. 8182 CUR 9 130 REPORT OF THE COMPTROLLER OF THE CURRENCY. TRANSFER OF STOCK—Continued. 17. Party who, as security for a loan, accepts stock which lie causes to he trans 1 erred, to him on the- books, incurs liability as a stockholder and is not relieved by colorable transfer -with understanding that he may have it back on request. National Bank x. Case, 99 U.S., 628. 18. Bank cashier refusing to transfer, on books of bank, shares of capital stock pledged and sold for debt of one of itvS stockholders, receiver of bank is liable for value of stock at that time if bank had no lien thereon to justify such refusal Casev. Bank, 100 U.S., 446. 19. And where stock has been transferred as collateral security for a loan, with the understanding that in case of default in the payment of the loan the shares shall be sold, the transferee, upon default made, and before the bank closes its doors, may sell the stock for a nominal consideration, though his purpose be to avoid a personal liability; mid such a transaction can not be set aside as a fraud upon the creditors of the association. Mar/ruder v. Coltson, 44Md.,349. 20. After a national bank has become insolvent and has closed its doors for business, its shareholders'liability to creditors is so far iixed that any transfer of their shares must beheld fraudulent and inoperative as against the creditors of the bank. Irons, exyr, etc., et al. v. Manufacturers7 National Bank et al., 17 Fed. Rep., SOS. 21. The rules which regulate the transfer of the stock of national banks are to bo found in tke statutes of the United States. The national-banking act prescribed no exclusive method of transfer, but authorizes every association to do so. Tlio decisions of the courts of the State in which the bank may bo located do not control it. Scott et al. v PequonnocJc National Bank, 15 Fed. Hep., 494. 22. Precedence should-be given to unrecorded transfers of shares of stock of a national bank, which had passed no by-law on the subject, located in a State whose courts leaned strongly against such transfers, but whose statutes gave the attaching creditor no peculiar rights, by delivery of certificates and a written assignment with power to transfer, both executed in blank, over subsequent attachment of a creditor of the original vendor in whoso name the shares still stood on the books of the bank. Ib. 23. Where no specified acts are by positive requirement made prerequisite to the vesting of a valid new title, creditors without notice take their debtor's property subject to all bona tido liens and equitable transfers. No registry being required, non-recording was not evidence of fraud. The tendency is to regard State certificates, attached to an executed blank assignment and power to transfer, as approximating to negotiable securities and to favor atta* hing creditors less than when attachment and sale on execution alone could compel payment of a claim out of debtor's property. Federal courts have so decided. Ib. 24. The courts of Connecticut and Massachusetts have quite rigidly maintained that Avhere a statute or charter prescribes an exclusive manner of transfer of the stock of a corporation, an unrecorded transfer shall not be valid against the cttaehing creditors of vendor; and the courts of the former have strongly leaned toward a construction of the charters of its corporations compelling record of such transfers. Ib. 25. On December 30, 1875, A sold certain shares of bank stock to B, and assigned them by a transfer written on the back of the certificate. By the bylaws of the bank, stock was transferable only on the books of the company. On December 14, 1878, the shares were attached by a judgment creditor of A, and sold and transferred to C. Neither the bank nor the creditor had knowledge of the transfer to B. In January, 1880, B presented his certificate and transfer to the officers of the bank, and demanded a transfer of the stock, which was refused, whereupon he brought suit against the lank for such refusal: Held, That the bank was liable in damages for the refusal to transfer the shares. Hazard v. National Exchange Ban,:, of Newport, 26 Fed. Hep., 94. 26. The sale wliich sec. 5201, Rev. St., requires a national bank to make of its stock is real md not fictitious. And where the president and cashier of a national bank, which is the owner of some of its own stock, purchase such stock ai d execute their note to the bank for the purchase money, in a suit aganst them on the note by the receiver of such bank, they are estopped to set up as a defense that their purchase of the stock was unauthorized, or that their purchase was merely colorable, or to avoid a forfeiture of the bank's chrrter, or for any other deceptive or illegal purpose. Buhdy v. Jackson, 24 Fed. Hep., 628. EEPORT OF THE COMPTROLLER OF THE CURRENCY. 131 TRANSFER OF STOCK—Continued. 27. The sale by the president of a national bank to himself and the cashier of the stock of the bank owned by the bank, may be ratified by the bank or its legal representative; but a sale by himself to the bank of its own stock, where he acts in the double capacity of seller and buyer, can not be ratified when the purchase of the stock by the bank is not necessary to prevent loss upon a debt previously contracted. In the one case the sale of the stock is enjoined by law, and its sale by the president may be ratified, however irregular it may have been in the first instance; but the purchase of its own stock by the bank is interdicted by law, and for this act there can be no authorization in advance, and no ratification afterward. Ib. 28. The by-laws of a national bank provided that no transfer of the stock should bo made by any shareholder who was indebted to the bank, and this provision was also included in the certificates of stock: Held, invalid, and that a transfer of stock by a shareholder while indebted to the bank was good. Evansville National Bank v. Metropolitan National Bank. 2 Bis sell. 527; 1 N. B. C, 189. 29. In the absence of any provision in the by-laws or articles of association of a national bank to the contrary, such a bank is bound under the laws of Pennsylvania to recognize a transfer of its stock by a foreign executor duly appointed in another State. Hobbs v. Western National Bank, 8 Weekly Notes of Cases, 131; 2 N. B. C, 187. 30. S, the president and active manager of a bank, sold a number of shares of its capital stock to T under representation of fact relied upon by T and afterwards claimed by him to be fraudulent and false. The bank, by its directors, had full and actual knowledge of such representations, and, with such knowledge, consented and arranged that TJs notes given in partial payment for said stock should be made directly to the bank, and take the place of notes held by it against S and others: Held, That, in an action by the bank against T on such notes, he might make the same defense, founded on such alleged false and fraudulent representations, as he could have made if the notes had been given to S, and the action brought by him. National Bank of Dakota v. Taylor, 38 N. W., 297. 31. In such purchase of stock T had the right to rely solely upon the representations of fact by S, and if S, conscious that T was so relying, knowingly deceived him, nothing would condone the wrong as between them, or estop T from asserting it, but his acquiescence in it with knowledge of the facts. 1b. 32. A party who thus deliberately deceives another to his prejudice can not complain that the sufferer has not been vigilant in finding it out. Ib. 33. The right of such sufferer to rescind may be qualified by intervening interests of innocent parties; but so long as the question is between the original parties solely he may continue to rely on the representations upon which the contract was made and by which it was induced, and loses no rights, as against the wrongdoer himself, by failure to diligently discover the fraud. Ib. 34. The fact that, soon after such purchase, T became, and for a number of months was, the cashier of the bank would not alone, and as a matter of law, make him chargeable with a knowledge of the condition of the bunk, and so of the falsity of the representations under which he bought, as against evidence that he was for a considerable portion of the time absent from the bank and the city where it was located, and that during all his connection with the bank he, by direction of S, the president, and the person of whom he bought the stock, was engaged in routine work and had practically nothing to do with the bills receivable of the bank. Ib. 35. The fact that, as cashier, he signed statements exhibiting the condition of the bank would not, in an action on such notes by the bank or by S, estop him from showing, as against them, that such statements, which he believed at the time were true, were in fact-false. Ib. 36. B, having duly sold stock of a national bank of Louisiana pledged to him by A, applied to the cashier to have it transferred on the bank books, but the cashier refused, on the ground that A was indebted to the hank. The bank having failed before the transfer could be enforced, B brought an action of damages against the receiver: Held, (1) That the action was not barred by the statute of limitations of one year; (2) the cashier having been intrusted by the directors with the duty of transferring the stock of the bank, his refusal was imputable to the bank; (3) the court below had power to order the receiver to pay the claim or certify it to the Comptroller. Case, Receiver, v. Citizens' Bank of Louisiana, 100 U. S., 446; 2 N. B. C 47. 132 REPORT OF THE COMPTROLLER OF THE CURRENCY. ULTKA YIKES: 1. A national-banking association cannot deal in stocks. The prohibition is to be implied from the failure to grant the power. First National Bank v. National Exchange Bank, 92 U. S., 122. 2. A national-banking association can not purchase negotiable paper. Lazcar v. National Union Bank of Baltimore, 52 Md., 78; First National Bank of Rochester v. 1'ierson, 24 Minn., 140; Farmers and Mechanics' Bankv. Baldwin, 23 Minn., 198. Bufc see Smith v. The Exchanae Bank of Piltsburg, 26 Ohio St., 141. 3. Where the provisions of the national-banking act prohibit certain acts by banks or their officers, without imposing any penalty or forfeiture applicable to particular transactions which had been executed, their validity can be questioned by the United States only and not by private parties. Thompson v. St. Nicholas National Bank, 146 U. S., 240. 4. National banks can make no valid loan or discount on security of their own stock unless necessary to prevent loss on debt previously contracted in good faith. Bank v. Lanier, 11 Wall., 360. 5. The national-banking act docs not give a bank an absolute right to retain bonds coming into its possession by purchase under a contract which it was without legal authority to make. Logan Bank v. Townsend, 139 U. S., 67. 6. A bank which receives drafts with instructions to apply the proceeds to the payment of a certain note held by it for collection can not apply them to any other account. First National Bankx. Munzesheimcr, 26 S. TV., 428. 7. A national bank can not enter into a valid contract to undertake the business of the recovery of the stolen property of special depositors. Wylie v. Northampton National Bank, 15 Fed. Hep., 428. 8. National banks can not take mortgages on real estate to secure future advances. Crocker v. Whitney, 1 N. B. C, 745. 9. A national bank has no power to take a deed of trust or mortgage on real estate to secure a contemporaneous loan, and a sale under such deed or mortgage to satisfy the loan will bo enjoined. Matthews v. Skinker, 62 Mo., 329; 1 N. B. C, 647. 10. A bank has not a right to retain the balance of a customer's deposit to pay or apply upon an indebtedness of a customer to the bank not yet matured. Jordan, Administratrix, etc., v. The National Shoe and leather Bank, 74 N. Y., 467. 11. A national bank which entered into a contract not authorized by its charter can not repudiate the contract and at the same time retain its fruits. Casey v. La Societe de Credit Mobilier de Paris, 2 Woods, 77; IN. B. C, 285. 12. The national-banking act is an enabling act for associations organized under it, and one can not rightfully exercise any powers except those expressly granted, or such incidental powers as are necessary to carry on the business for which it was established. Ib. 13. That act does not give a national bank an absolute right to retain bonds coming into its possession, by purchase, under a contract which it was without legal authority to make. Although the bank is not bound to surrender possession of them until reimbursed the full amount due to it, and may hold them as security for the return of the consideration paid, yet when such amount is returned, or tendered back to it, and the return of the bonds demanded, its authority to retain them no longer exists; and from the time of such demand and its refusal to surrender the bonds to the vendor or owner it becomes liable for their value upon grounds of implied contract, apart from the original agreement under which it obtained them. It could not rightfully hold them under or by virtue of the contract, and at tbe same time refuse to comply with the terms of purchase. Logan County National Bank v. Townsend, 139 U. S , 67. 14. A national-banking association is not authorized to act as a broker or agent in the purchase of bonds and stocks. First National Bank of Allentown v. Hoch, 89 Penn. St., 324; Weckler v. The First National Bank of Hagerstown, 42 Md., 581. 15. Where a bank has received and retained the benefit of a contract made by its officers it can not plead that the contract was unauthorized by the directors or beyond the power of the bank or its officers to make. Tootle et aJ. v. First National Bank of Fort Angeles, 33 P., 345; 6 Wash., 181. 16. The objection that an executed purchase of property by a national bank is ultra vires can bo urged only by the Government of the United States. Hennessyx. City of St. Paul etal., 55 N. W., 1153; 24 Minn., 219. REPORT OF THE COMPTROLLER OF THE CURRENCY. 133 USUKY : See Interest. 1. The usury laws of the States do not apply to national-banking associations. Farmers and Mechanics' Bank v. Bearing, 91 U. S., 29; Central National Bank v. Pratt, 115 Mass., 539; First National Bank v. Garlinglwuse, 22 Ohio St., 492; Davis v. Randall, 115 Mass., 547; Hintermisler v. First National Bank, 64 N. Y., 212. 2. And the remedies provided by the State for the taking of usury can not be resorted to. Farmers and Mechanics' Bankv. Bearing, supra ; Wiley v. Starbuck, 44lnd., 298. 3. The' taking of illegal interest by a national-banking association does not render the contract void. Farmers and Mechanics' Bank v. Bearing, supra. 1. It does not invalidate an indorsement or a guaranty of the notes upon which the usurious interest was paid. Gates v. First National Bank of Montgomery, 100 U. S., 289; LazearY. National Union Bank of Baltimore, 52 Mel, 78. 5. But usury destroys the interest-bearing power of the obligation; and there will be no point of time from which it can bear interest. Lucas v. Government National Bank, 78 Fenn. St., 228. 6. The usury works a forfeiture of the entire interest accruing after maturity and before judgment, as well as that which accrues before maturity. ShunJc v. The First National Bank of Gallion, 22 Ohio St., 508. 7. The discounting of business paper by a national-banking association at a higher than the legal rate is usurious, though the law of the State fixes no limit to the rate which natural persons may take for the discount or purchase of such paper. Johnson v. National Bank of Gloversrille, 74 N. ¥., 329; National Bank v. Johnson, 104 U. S., 271. 8. By charging more than legal interest on overdrafts, a national-banking association loses the right to recover any interest at all. Third National Bank of Philadelphia v. Miller, 90 Fenn. St., 241. 9. The liabilities of antecedent parties to a note or bill will not be affected by the usurious character of the transaction between the payee and the association; and the association may recover the full amount of the note or bill from the maker or acceptor. Sinith v. The Exchange Bank of Piltsburg, 26 Ohio St., 141. 10. Usurious interest which has been paid to a national-banking association can not be applied byway of payment, set-off, or counterclaim in an action by the association to recover the amount of the loan, but a separate action must be brought therefor. Barnet v. Muncie National Bank, 98 U. S., 555. 11. Where a national-banking association has discounted notes for another bank at a usurious rate of interest, the fact that the other bank has charged illegal interest on those notes to its customers will not affect its right to set up the defense of usury in in action by the association. Third National Bank of Philadelphia v. Miller, supra. 12. The amount which may be recovered from the- association as a penalty is twice the amount of interest paid, and not simply twice the amount in excess of the legal rate. Crockery. First National Bank of Chetopa, 3Am. L. T. [N.S.], 350; 1 N. B. C, 317; Overholt v. National "Bank of' Mount Pleasant, 82 Penn. St., 490; Barnet v. Muncie National Bank, supra. 13. The purchase of accepted drafts by a national bank from the holder without his indorsement at a greater reduction than lawful interest on their face value is a discounting of those drafts within the meaning of Rev. St., sec. 5197, which prohibits such bank from taking interest on any loan or discount made by it at a greater rate than is allowed by the laws of the State where it is situated. Banforth ct al. v. National State Bank of Elizabeth, 48 Fed. Hep., 271. 14. Where a bankrupt has paid usurious interest, his assignee may bring an action against the association to recover the penalty. Wright v. First National Bank of Greensburg, 8 Biss., 243; Crocker v. First National Bank of Chetopa, supra. 15. The party who paid the usurious interest is the only }>arty to the note who is entitled to sue for the penalty. Lazear v. National Union Bank of Maryland, 52 Md., 78. 16. Under Rev. St., sec. 5198, providing that a suit against a national bank for taking usurious interest must be commenced within two years from "the time the usurious transaction occurred," the limitation begins to run from the time wheu such interest is paid. National Bank v. Carpenter, 19 A , 181; Bobsv. People's National Bank, 21 Fed. Hep., 888. 17. The penalty for all illegal interest paid to a national-banking association within two years prior to the commencement of proceedings may be recovered in a single action, whether the amount was in one payment or in several. Hintermister v. First National Bank, 64 N. Y., 212. 134 REPORT OF THE COMPTROLLER OF THE CURRENCY. USURY—Continued. 18. A note dated and signed by the makers in Tennessee and payable in Chicago, 111., and forwarded by them to the payees in Chicago, to be used by the latter in raising'money with which to pay off a prior note made by the same parties, must bo held an Illinois'contract, and governed by the laws of Illinois relating to usury. Buchanan ct al. v. Drovers' National Bank of Chicago, 55 Fed. Hep., 223. 19. Bank loaned money upon note which it afterwards discounted, the maker agreeing to open account with bank or to pay 2£ per cent commission to the bank on the loan. As the money loaned belonged to the bank, commission held to be usury. Union National Bank v. L. N, A. <f C. Ily. Co., III., Supreme Court, May 9, 1893, 34 N. E., 135. 20. An act of a legislature providing that no corporation shall set up defense of usury in any action does not render contracts by corporations for usurious interest cnforcible and does not prevent corporations setting up a defense of illegality under sec. 5197, Rev. St. 11). 21. When allegations of complaint are sufficient to sustain a judgment in an action against a national bank for exacting usurious interest. First National Bank v. Morgan, 132 U. 8., 141. 22. Usurious interest paid a national bank on renewing a series of notes can not, in an action by the bank on the last of them, be ajjplied in satisfaction of the debt. Driesbach v. National Bank, 104 U. S.} 52; Barnett v. National Bank, 98 V. 8., 555. 23. Remedy given by sec. 5198, Rev. St., for recovery of usurious interest paid to a national bank, is exclusive. Barnett v. National Bank, Ib.; Stephens v. Mononcjahcla Bank, 111 U. S., 197. 24. The only forfeiture for usury declared by sec. 30 of act of 1864 is of entire interest, and no greater loss is incurred by such bank by reason of the usury laws of a State. Farmers' National Bank v. Bearing1, 91 U. 8., 29. 25. Where a national bank has actually taken usurious interest, the party paying it may recover double the ainout in an action therefor, but cannot setoff or counterclaim it in an action to recover the principal: and the action for such penalty must be brought within two years. Ellis v. First National Bank of Olncy, 11 Brachr., 275; 3 N. B. C., 378. 26. The courts of one State have no jurisdiction of an action against a national bank located in another State to recover the penalty imposed by the act of Congress for the taking of unlawful interest. Missouri Biter Telegraph Compani) v. First National Bank of iSioux City. 74 III., 217; 1 N. B. C, 401. 27. Actions and proceedings against any national bank may be brought in any State, county, or municipal court iu the county or city in which such association is located, having jurisdiction in similar cases, to enforce a penalty under sec. 5198, Rev. St. First National Bank of Tecumseh v. Overman, 22 Neb., 116; 3 N. B. C, 556. 28. When an action is brought to recover a penalty under sees. 5197 and 5198, Rev. St. for taking, receiving, reserving, or charging a rate of interest greater than is allowed by law, it is necessary to allege in the petition that the act was "knowingly done." Schuyler National Bank v. Bollong, 24 Neb., 821; 3 N. B. C\, 558. 29. In an action against a national bank to recover the penalty imposed by the act of Congress for taking a greater rate of interest than is allowed by law, the plaintiff is entitled to recover only twice the amount taken in excess of the legal interest, and not twice the amount of the entire interest paid. Buitermister v. First National Bank, 64 N. Y.,212; IN. B.C., 741. 30. Under act of Congress June 3, 1864, sec. 30, providing that national banks/ knowingly receiving or charging a greater rate of interest than allowed by the State where the bank is located, shall forfeit the entire interest which the note carries with it, or which has been agreed to be paid thereon, not only is forfeited a greater sum reserved by the bank out of the money than the legal interest for the time the note has to run, but also the interest accruing by law upon nonpayment after maturity. Alvesv. Henderson National Bank, 3 N. B. C, 452. 31. An agreement to pay illegal interest in a mortgage given to secure the notes. after maturity forfeits both legal and illegal interest, though no interest is expressed in the notes themselves. 1b. 32. In an action by a national bank upon a note the defendant is not entitled to any set-off for legal interest exacted by the bank upon the discount thereof, but the bank can recover only the principal of the note. Peterborough National Bank v. Childs, 133 Mass., 248; 43 Am. Eep., 509; 3 N. B. C, 469. REPORT OF THE COMPTROLLER OF THE CURRENCY. 135 USURY—Continued. 33. A national bank, discounting business paper at a greater rate than 7 percent, is liable to the forfeiture of double the excess over 7 per cent imposed by the national-banking act, although the transaction is not usurious under +he State law. Johnson v. National Bank of Gloversville, 74 N. Y., 329; 30 Am. Rep., 302; 2 N. B. C, 302. 34. Under the national-bank act, in an action upon a note usuriously discounted by a national bank, the amount of the usury may be set-off by an accommodation indorser, although the note does not carry interest on its face. National Bank of Auburn v. Lewis, 75 N. Y., 516; 31 Am. Hep., 484; 2 N. B. C, 305. 35. In an action by a national bank on a promissory note discounted by it the defendant may not counterclaim or set-off usurious interest taken by the bank on the discount of it and other notes of which it was a renewal. National Bank of Auburn v. Lewis, 81 N. Y., 15; 3 N. B. C, 587. 36. The remedy is an action of debt to recover back twice the amount paid. Ib. 37. Where a national bank has usuriously reserved a sum gi eater than the lawful rate of interest on a discount, the amount so reserved is forfeited and may not be recovered in an action upon the note. 1b. 38. The knowingly taking or receiving by a national bank of a greater rate of interest th:tn is lawful in the State where it is located is usurious under the national-banking act, and the entire interest is forfeited, and the usury is not purged by settlements and renewal notes without additional usury. Fickett v. Merchants' National Bank of Memphis, 32 Ark., 346; 2 N. B. C, 209. 39. In an action by a national bank the defendant can not be allowed a counterclaim for unlawful interest paid by him more than two years prior thereto. National State Bank of Newark v. Boylan, 2 Abbott's N. C.,-216; 1N. B. C, 798. 40. One of two or more defendants can not set up an individual counterclaim unless, under the pleadings, there can be a several judgment against him. Ib. 41. Where a national bank received usurious interest it forfeits the entire interest on the note, including that accruing after maturity, though the latter rate be lawful. Shafer v. First National Bank, 36 P., 998. 42. A judgment on a note, whereon interest is forfeited because of usury, bears interest at 6 per cent, under General Statutes, 1889, par. 3500, relating to interest on judgments, though the note provided for lawful interest after maturity. Ib. 43. The State courts will not enforce the penalties imposed by the nationalbanking act for exacting unlawful interest. Newell v. National Bank of Somerset, 12 Bush, 57; 1 N. B. C, 501. 44. Usurious interest paid a national bank on a note can not be offset against the principal sum due. Rockwell v. Farmers' National Bank, 36 P., 905. 45. Where the usurious interest is discounted from the face of the note the bank can only recover the face of the note, less the interest deducted. If the borrower pays the usurious interest in advance he may recover double the interest so paid. Schuyler National Bank v. Bollong, 24 Neb., 825; 3 N. B. C, 561. 46. In New York the rate of interest which a corporation may pay is not limited. A national bank, located in that State, loaned money to a corporation at a rate of interest exceeding 7 per cent per annum: Held, That the interest on the loan was forfeited under section 39 of the national-o inking act (13 St. at Large, 108), which provided that when no rate of interest was fixed by the law of a State a national bank might charge a rate not exceeding 7 per cent per annum, and that if it charged more the entire interest should be forfeited. In re Wild, 11 Blatch., 243; 1 N. B. C, 246. 47. If a national bank discount a note at a usurious rate of interest, paying the borrower the proceeds less the interest, it can recover only the face of the note less the entire interest received. But if such note be renewed, the borrower paying the usurious interest out of his pocket, in advance, the defendant may recoup, or recover in an independent action, double the amount of the entire interest paid at the renewal. If, instead of paying the usurious interest at each renewal, it be added to the principal and included in the renewal notes, the bank can only recover the amount originally paid to the borrower, i. e., the amount of the last of the renewal notes less all interest included in it. National Bank of Madison v. Davis, 6 Cent. L. J., 106; 1 N. B. C, 350. 48. The national-currency act should be liberally construed to effect the ends for which it was passed, but a forfeiture under its provisions should not be declared unless the facts upon which it rests are clearly established. 136 REPORT OF THE COMPTROLLER OF THE CURRENCY. USURY—Continued. In case of a claim of forfeiture against a. "bank for taking unlawful interest upon the discount of bills of exchange payable at another place, it should appear affirmatively that the bank"~knowingly received or reserved an amount in excess of the statutory rate of interest and tho current exchange for sight drafts. Accordingly, where it was not shown what the rate of exchange was, a charge of one-quarter of one per cent in addition to the statutory rate of interest would not bo sufficient to authorize a forfeiture. Wheeler \. Union National'Bank of Pittsburg, 96 U. S., 785: 2 N. B. C.,9. 49. The receipt by a national bank of an usurious rate of interest upon the discount of a note works a forfeiture of such interest as would otherwise have accrued after the maturity of the note. The First National Bank of Uniontoicn v. Stanffer, 1 Fed, Hep., 187. 50. Section 5073, Rev. St.. relating to set-offs in bankruptcy proceedings, provides that " i n all cases of mutual debts or mutual credits between the parties the account between shall be stated, and one debt set off against the other, and the balance only shall be allowed or paid; but no set-off shall be allowed in favor of any debtors to the bankrupt of a claim in its nature not provable against tho estate, or of a claim purchased by or transferred to him after tho liiing of the petition: Held] That under this section a judgment obtained by an assignee in bankruptcy, for a penalty incurred by the violation of a State statute against usury, could not be set off against a claim of the judgment debtor against the bankrupt estate. Wilson, assignee, v. National Bank of Holla, 3 Fed. Hep., 391. 51. Interest in excess of the legal rate received by a national bank, although taken in renewal of a series of notes, can not be applied: by way of set off or payment in a suit upon the last of the series. Farmers and Mechanics' Bank v. Hoagland, 7 Fed. Rep., 159. 52. In such case, however, the bank can not recover the illegal interest, although such interest has been iinally incorporated in notes bearing legal rates. 1 b. 53. Neither can the bank recover any interest upon such renewal notes from the date the interest has been reduced to the legal rate. Ib. 54. A provision in a promissory note " t o pay an attorney's fee of 10 per cent on the amount due if suit is brought to enforce payment, for use of tho attorney bringing the suit," is a stipulation for a penalty or forfeiture, and tends to the oppression of the debtor; is a cover for usury, and is without consideration and contrary to public policy, and void. Merchants' Nat. Bank v. Serier it al., 14 Fed. Hep., 662. 55. Such a stipulation in a note discounted by a national bank is void for the further reason that it is in excess of the powers of the bank, under its charter. Ib. 56. Section 5198, Rev. St., makes the receiving or charging " a rate of interest greater than is allowed," " a forfeiture of the entire interest." In case a greater rate of iutcrest has been paid, the debtor may recover back " twice the amount of interest thus paid." Hill v. National Bank of Bar re, 15 Fed. Hep., 432. 57. The amount of penalty recoverable in an action against banks under sec. 5198, Rev. St., is twice the whole amount of the interest paid, and not merely twice the amount paid in excess of the legal rate. Ib. 58. In an action against the First National Bank of Deadwood to recover illegal interest paid it, the court holds: A Territorial law in force in certain counties of the late Territory of Dakota, which provided that in those counties " i t shall be lawful to take, receive, retain, and contract for any rate (of interest) agreed on between the parties," allowed and tixed the rate of interest by law in such counties or district, within the meaning of sec. 5197, Rev. St., which provides that "any association may take, receive, reserve, and charge on any loan * * * interest allowed by the laws of the State, Territory, or District where the bank is located." Guild v. First National Bank of Deadwood, 57 N. W., 499. 59. From February, 1881, when said Territorial law was enacted, until July 1, 1887, when the same was repealed, it was lawful for Territorial and private banks and individuals to take, receive, retain, and contract for any rate of interest agreed on between the parties, within the counties named in the act, when there was an express contract in writing fixing the rate. Therefore, it was lawful for a national bank in those counties to contract in writing for any rate of interest agreed on between the parties. Ib. 60. Under the general law relating to interest in force in tho Territory after July 1, 1887, Territorial and private banks and individuals were allowed to take, receive, retain, and contract for interest at the rate of 12 per cent REPORT OF THE COMPTROLLER OF THE CURRENCY. 137 USURY—Continued. per annum, and national banks were, therefore, allowed to take, receive, and retain interest paid at the same rate; and it was not unlawful for such national banks, under the national-banking act, to take, receive, and retain interest paid at the rate of 12 per centum per annum, in the absence of an express contract in writing therefor. Ib. 61. A complaint that alleges that the defendant "knowingly and usuriously charged, took, received, and reserved from plaintiff, and that plaintiff paid to defendant, for interest, * * * being at the rate of 24 per cent per annum," giving time, amount, etc., states facts sufficient to constitute a good cause of action for the recovery of such alleged illegal interest under the national-banking act. Ib. 62. Under sec. 1851, Rev. St., one of the sections of tho organic act of the Territory of Dakota, which provides "that the legislative power of the Territory shall extend to all rightful subjects of legislation, not inconsistent with the Constitution and laws of the United States, the Territorial legislature was vested with general legislative power, restricted only as prescribed in the act, and subject to tho power of Congress to disapprove its acts. Ib. 63. The act of Congress, approved July 30, 1886, providing that " t h e legislatures of the Territories of the United States shall not pass special or local laws * * * regulating the interest on inoney/ ; was not retroactive, but was applicable only to acts thereafter passed by a Territorial legislature, and did not have the effect to invalidate the then existing interest law in the counties mentioned in the provisions of the act of 1881. Ib. 64. The passage of the law of 1881 by the Territorial legislature, which provided for a different rate of interest in certain counties of the Territory from that allowed in other parts of tho Territory, was a valid exercise of the legislative power, and was not in conflict with the organic act or the Constitution of the United States. Ib. 65. A law changing the rate of interest which can lawfully be taken, by reducing such rate, does not affect express contracts in writing for interest at the higher rate, made when the law allowing the higher rate was in force, when such contract specifically provides that the interest at the rate specified in the contract shall bo payable from the date of tho contract until the same is paid. Ib. 66. Under Rev. St., sec. 5198, whidi authorizes the person paying usurious interest to a national bank to recover twice the amount paid, one of tho joint makers of a note on which illegal interest is charged can not recover the penalty from tbe bank where the illegal interest was paid by the other maker. First National Bank of Concordia v. Rowley, 34 P., 1049; 52 Kans., 394. 67. Where a national bank loans money at a usurious rate, and the interest is carried into renewal notes, the bank, in a suit upon the last of such renewals, can recover only the principal sum originally advanced. Snyder ct al. v. The Mount Sterling National Bank, Ey. Sup. Ct., 1894. 68. Any payments made upon any of such notes will be applied to the principal. Ib. 69. Parkhnrst having, as maker of the notes to the bank representing the debt secured by the chattel mortgage, paid usurious interest thereon, and haying recovered judgment against the bank for twice the interest thus paid under tho Federal statute, he can not be allowed to apply the same interest in reduction of the debt secured by the chattel mortgages. Parkhurst v. First National Bank of Clyde, 35 P., 1116 70. The limitation of two years, within which suit may be brought against a national bank, under sec. 5198, Rev. St., for taking usurious interest, begins to run from the time when the usurious interest is paid. First National Bank of Dorchester v. Smith, 57 N. TV., 996. 71. A national bank succeeding to the business of a private bank inherits tho usury penalties incurred by the latter in attempting to enforce a transfer note and mortgage. State usury penalty is applicable to transaction previous to debtor's knowledge that debt was transferred to national bank. Exeter National Bank v. Orchard, 58 N. TV., 144. 72. The payment of usurious interest to a national bank can not be pleaded as a set'off or counterclaim1 against the principal of tho note so sued on. Hug gins etal. v. Citizens National Bank of Kansas City, 24 S. TV., 926. 73. Where a national bank loans money at a usurious rate, which is included in the note, in an action to enforce the contract the interest is forfeited. McGhee v. First National Bank of Tobias, 58 N. W., 537. 138 REPORT OF THE COMPTROLLER OF THE CURRENCY. USURY—Continued. 74. A promissory note given for already accrued interest, in part usurious, was without consideration, and suspension of the right of collection between its date and maturity in no way operated to supply this essential element otherwise lacking. II. ViCE-PiiESiDEKT. See Officers. VOTING : The provision of sec. 5144, Rev. St., which disqualifies shareholders " whose liability is past due and unpaid" from voting at meetings of shareholders, applies only to liability for unpaid subscriptions tor stock. United Stales ex rel. v. Barry, 30 Fed. Hep., 246. REPORT OF THE COMPTROLLER OF THE CURRENCY. 139 NUMBER OF BANKS ORGANIZED, IN LIQUIDATION, AND IN OPERATION, WITH THEIR CAPITAL, BONDS ON DEPOSIT, AND CIRCULATION ISSUED, REDEEMED, AND OUTSTANDING ON OCTOBER 31, 1894. Circulation. Banks. States and Territories. Maine New Hampshire Vermont Massachusetts.. Rhode Island ... Connecticut Capital In Organ- liqui- I n op- stock paid. eraized. dation. tion. 08 60 68 286 64 98 United States bonds on deposit. Issued. $42,159, 28, 689, 36, 888, 345, 220, 74, 943, 96,177, 560 865 250 965 855 020 Redeemed. Outstanding.* $37, 393, 040 25,186, 486 33, 727, 263 314, 716, 696 67,441,304 88,274,395 $4, 766, 3, 503, 3,160, 30, 504, 7, 502, 7, 902, 520 379 987 269 551 625 « 9 19 20 5 15 83 $11,170, 000 51 6, 030, 000 49 7, 010, 000 266 97, 992, 500 59 20, 037, 050 83 22,791,070 $4, 701, 900 3, 589, 000 3, 343, 000 28,084, 500 7,215.000 6, 985, 500 501 jl65,030,620 53, 918, 900 | 624, 079, 515 566,739,184 57, 340, 331 334 101 406 18 68 13 060 350 474 985 960 000 33, 629, 450 5,231, 250 24, 900, 500 776, 000 3,471,750 1, 055, 400 329, 58, 224, 8, 42, 6, 265 500 935 995 300 620 294, 611, 037 53, 686, 941 199, 359, 685 7,424, 240 38,634,417 5, 682, 282 34, 983, 228 4, 943, 559 25, 502, 250 798. 755 4, 007, 883 1, 006, 338 940 198,103, 829 69, 064, 350 670, 640, 615 599, 398, C02 71, 242, 013 4, 846, 300 3, 061, 000 2, 766, 000 1, 748,000 3, 966, 000 1,485, 000 3, 694, 000 955, 000 3, 760, 000 23, 230. 000 1, 050, 000 13, 304, 400 8, 875, 000 1, 961, 750 981,500 780,100 474,750 1,194, 500 430, 000 1,108, 500 263, 750 1,140, 000 5, 331, 400 201,000 4, 416, 000 1, 338, 250 14, 756, 460 8, 8U6, 000 7, 707, 960 6.168, 495 9,' 935, 630 1,155, 290 7, 035, 860 1, 030, 260 12,022,260 15,196, 800 1,803,930 40, 004, 675 13, 200, 520 12, 895, 0:i9 7, 769, 087 6, 871,379 5, 716, 245 8, 735, 926 769,432 5, 839, 647 762,518 10, 623, 340 10,174, 585 1, 542, 250 35,180, 563 11, 905, 458 1, 861, 421 1, 036. 913 836, 581 452, 250 1,199, 704 385, 858 1,196, 213 267, 742 1, 398, 920 5, 022, 215 261, 680 4, 824,112 1, 295, 062 Eastern States.. 674 83 New York New J ersey Pennsylvania... Delaware Maryland Dist. Columbia - 463 115 468 18 71 18 129 14 62 Middle States... 1,153 213 Virginia We^t Virginia.. North Carolina . South Carolina . Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee 53 38 33 18 42 25 38 15 25 258 13 108 77 16 8 7 4 13 7 12 4 6 40 5 31 28 37 30 26 14 29 18 26 11 19 218 8 77 49 Southern States 743 181 562 72, 740, 700 19, 621, 500 138, 824,140 Missouri Ohio Indiana Illinois Michigan Iowa Minnesota North Dakota .. South Dakota... Kansas Nebraska 121 347 183 2s)6 168 121 232 108 42 52 215 166 50 101 69 80 72 38 63 29 10 17 91 41 71 246 114 216 96 83 169 79 32 35 124 125 20, 840. 000 45, 202; 308 13,939,910 38, 506, 000 13, 634, COO 10, 645, 000 13,910,000 15, 5b5, 000 2,190, 000 2, 260, 000 11,052,100 12, 573,100 2, 216, 050 14, 805, 850 5, 010, 050 7, 282, 250 4, 693, «)00 2, 503, 500 3, 846, 250 2, 019, 800 556, 500 654, 750 2, 868, 000 2, 803, 850 18,265,294 20, 564, 315 103, 993, 323 119, 538, 840 52,874,110 58,340,775 60, 439, 775 . 53,183,050 30,124, 213 35,116, 890 13,859,520 16,189, 710 23, 747, 729 27, 588, 950 13, 002, 379 15,090,250 1, 442, 969 1, 998, 740 1,738,271 2, 380, 070 9, 961, 306 12, 843, 630 8, 511, 400 11,266,560 2, 299. 021 15, 545, 517 5, 466, 665 7, 256, 725 4, 992, 677 2, 330,190 3, 841, 221 2, 087, 871 555, 771 641,799 2, 882, 324 2, 755,160 Western States. 2,051 C61 1,390 200, 287, 418 49,259,850 i 381,358,505 330, 703, 564 50, 654, 941 3 42 65 14 43 14 77 48 17 15 8 7 6 1 7 16 2 20 2 20 14 6 6 3 1 2 35 49 12 23 12 57 34 11 9 5 6 6 282,0CO 3, 845, 000 7, 937, 000 • 775,000 4, 300, 000 1,310,000 6,180, 000 7, 775, 000 2,100, 000 700, 000 400, 000 300, 000 360, 000 70, 500 707, 300 1, 584, 250 193,750 851,850 300, 000 1,446,200 1, 357, 250 812, 500 252, 500 100,500 75, 000 90, 000 339, 510 2, 938, S60 7, 505, 760 753,260 3, 338, 480 1, 041,170 4, 277, 690 6, 010, 910 2, 665. 680 1,979,840 244, 800 131, 240 142, 640 287, 568 2. 225, 239 5,982,678 578, %2 2, 455,149 796, 287 2, 721, 932 4, 652,120 1, 832,670 1, 686, 362 147,350 54, 360 56, 910 51,942 713,721 1,523,082 174, 298 883, 331 244,883 1,555, 758 1, 358, 790 833.010 293, 478 97, 450 76, 880 85, 730 359 98 261 36, 264, 000 7, 841, 600 31, 369, 940 23,477, 587 7, 892, 353 Nevada Oregon Colorado Idaho Montana Wyoming Washington California Utah New Mexico Arizona Oklahoma Indian Ter Pacific States and Territories. 3 5 87, 341, 14, 658, 74, 088, 2,133, 17, 054, 2, 827, 594, 630, 861, 222, 642, 688, 118,785,469 20, 038, 671 Add for mutilated notes , . Total currency banks Add gold banks. 1,846,272,715 1, G39,104, 406 207,168, 309 3, 465, 240 3, 372, 753 92,487 United States... 4,980 1, 236 t3, 744 672, 426, 567 199,706, 200 1, 849, 737, 955 1, 642, 477,159 207,565, 090 301, 294 Includingg $28,071,2°»9 for $ , , or which lawful money has been deposited with the Treasurer Treasur of the United States t to t retire ti an equall amountt off circulation i l t i which h i h has h nott been b presented t d for f redem d tption. i tTwelve banks restored to solvency and resumed business, making total going bank now 3, 756. ng total going banks 140 REPORT OF THE COMPTROLLER OF THE CURRENCY. TILL: NL'MBL-K AND CAPITAL, T,Y STATES, OF NATIONAL BANKS ORGANIZED DURING TJIE YEAR ENDED OCTOBER 31, 1894. Xo. of | banks. | Capital. States. $000, 000 250, 000 400, 000 510, 000 250, 000 200, 000 100, 000 100, 000 100, 000 100, 000 575, 000 100, 000 Pennsylvania Illinois Minnesota . . Ohio Texas Georgia Iowa Indiana Kansas Maine Missouri Montana States. New Jersey North Carolina Wisconsin Florida Kentucky Michigan Nebraska New York Vermont Virginia Total N o . of banks. 2 2 2 1 1 1 1 1 1 1 Capital. $100, 000 150, 000 250, 000 100, 000 800, 000 400, 000 50, 000 50, 000 50, 000 50, 000 50 5, 285, 000 STATEMENT SHOWING IJY STATES THE NUMBER OF NATIONAL BANKS IN ACTIVE OPERATION OCTOBER 31, 1894. Alabama. Arizona Arkansas California Colorado Connecticut Delaware . . . : District of Columbia Florida Oeorgia Idaho Illinois Indiana Indian Territory Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana •_ 27 5 8 34 49 83 18 13 19 29 12 217 115 6 169 125 77 19 83 68 267 96 79 11 71 27 Nebraska Nevada New Hampshire New Jersey New Mexico. New York North Carolina. North D a k o t a . . Ohio Oklahoma Oregon Pennsylvania . . Rhode I s l a n d . . . So a tli Carolina . South Dakota . . Tennessee Texas Utah Vermont Virginia Washington West Virginia.. Wisconsin Wyoming Total 125 2 51 101 9 334 26 32 246 6 35 406 59 14 35 49 218 11 49 37 59 30 83 12 3,756 STATEMENT SHOWING TOTAL NUMBER OF NATIONAL BANKS ORGANIZED, NUMBER NOW IN OPERATION, AND THE NUMBER PASSED OUT OF THE SYSTEM SINCE F E B RUARY 25, 1863. Total number organized 4, 980 Number now in operation 3, 756 Number passed out of the system The latter number is accounted for as follows : Passed into voluntary liquidation to wind up their affairs Less number placed in t h e hands of a receiver Passed into liquidation for purpose of reorganization Passed into liquidation upon expiration of corporate existence * Placed in the hands of a receiver Less number restored to solvency and resumed business Total passed out of system * Seventy-three of these have been reorganized. 1, 224 782 9 773 87 109 267 1,236 12 1> 224 REPORT OF THE COMPTROLLER OP THE CURRENCY. 141 NUMBER AND AUTHORIZED CAPITAL OF BANKS ORGANIZED' AND THE NUMBER AND CAPITAL OF BANKS CLOSED IN EACH YEAR ENDED OCTOBER 31 SINCE THE ESTABLISHMENT OF THE NATIONAL BANKING SYSTEM, WITH THE YEARLY INCREASE OR DECREASE. Closed. Year. Organized. ]STo. | Capital. 1863.. 1864.. 1865.. 1866.. 1867.. 1868.. 1869.. 1870.. 1871.. 1872.. 1873.. 1874.. 1875.. 1876.. 1877.. 1878.. 1879.. 1880.. 1881.. 1882.. 1883.. 1884.. 1885.. 1886.. 18-S7.. 1888.. 1889.. 1890.. 1891.. 1892.. L893.. 1894.. In voluntary liquidation' No. 134 $16, 378. 700' 453 79, 366, 950 1,014 242, 542, 982 62| 8, 515, 150 4, 260, 300 1,210,000 9' 1,500, COO' 22 2, 736, 000 170 19, 519, 000 175 18,988,000 68 7, 602, 700! 71 0, 745, 500 107 12,104, 000 36 3,189,800 29 2, 589, 000 28 2, 775, 000 3, 595, 000 6, 374,170 86 9, 651, 050 227 30, 038, 300 262 28, 654, 350 191 16, 042, 230 145 16, 938, 000 174 21, 358, 000 225 30, 546, 000 132 12, 053, 000 211 21, 240, 000 307 36, 250, 000 193 20, 700, 000 163 15, 285, 000 119 11,230,000 5, 285, 000 50 Capital. Insolvent. No. $330, 000 650, 000 2,160, 000 2, 445, 500 3, 372, 710 2, 550, 000 1, 450, 000 2,180, 500 3, 524, 700 2, 795, 000 3, 820, 200 2, 565, 000 2, 539, 500 4, 237, 500 3,750, 000 570,000 1, 920, 000 16,120, 000 7, 736, 000 3,647,250 17, 856, 590 1,651,100 2, 537, 450 4,171, 000 4,316,000 5, 050, 000 4, 485, 000 6,157, 500 6, 035, 000 10, 475, 000 Capital. N e t yearly decrease. N e t yearly increase. No. 134 450 $50, 000 1,007 500, 000 56 1,170, 000 410, 000! 50, 000 250, 000 1, 806,100 3, 825, 0001 250, 000 1, 000, 0001 965, 000 1 3, 344, 000 2, 612, 500| 1, 230, 000 700, 000 1, 561, 300 250, 000 1, 285, 000 600,000 650. 000 1,550,000 1, 900, 000 250, 000 750, 000 3, 622, 000 2, 450, 000 10, 935, 000 2, 770, 000 158! 36; 48! G4 451 60 146 220 150 56 141 192 90 168 248 127 93 Capital. No. Capital. $16, 378, 700 79, 366, 950 242,162, 982 7, 365,150 930,300 10 $1, 645, 500 ' 1,922,710 64, 000 18, 069, 000 15, 001, 400 253, 0001 3, 700, 500| 7, 283, 800 340, 200 3, 294, 500 4, 075, 000 1, 385, 000 5,104,170 7,731,050; 12, 357, 000' 20, 668, 350| 11,109, 9S0 1,518,590 19, 056, 900 26, 458, 550 5,982,000 16, 674, 000 30, 450, 000 12, 593, 000 6,677, 500 5, 740, 000 7, 960, 000 Total 4,980 Deduct decrease. | STATEMENT SHOWING, BY STATES, THE NUMBER AND CAPITAL EXTENDED UNDER ACT OF JULY 12, 1882. States and Territories Alabama Arkansas California Colorado Connecticut Delaware District of Columbia FloTida Georgia Illinois Indiana Iowa, Idaho Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Missouri No. of banks. 2 4 7 73 11 5 1 9 92 51 48 1 9 27 6 56 29 212 31 18 10 Capital. $885, 000 350, COO 2, 600, 000 1,110, 000 22, 450, 820 1,503,185 1,277, 000 50, 000 1, 806, 00C 10, 716, 000 6,104, 000 4,245, 000 100, 000 825, 000 7, 436, 500 2, 600, 000 9, 835, 000 12, 069, 000 89,112, 500 2, 740, 000 5, 315, 000 3, 775, 000 States and Territories. Montana Nebraska New Hampshire. New Jersey New York North Carolina .. South Carolina .. Ohio Oregon Pennsylvania Rhode Island Tennessee Texas Utah Vermont Virginia West Virginia... Wisconsin Wyoming Total OF ALL No. of banks. 2 8 39 53 226 5 9 107 1 176 59 15 8 1 °2 14 14 23 1 1,507 BANKS Capital. $650, 000 1,400,000 4, 955, 000 10, 783, 350 72,972,460 1, 025, 000 1, 535, 000 17, 579, 000 250, 000 46,154, 390 19, 959, 800 2, 740, 000 1,485,000 500, 000 5, 956, 000 2,391,000 1, 566, 000 2,185,000 100, 000 381,092, 005 142 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE NUMBEE, CAPITAL AND CIRCULATION OF NATIONAL BANKS WHICH WILL REACH THE EXPIRATION OF THEIR CORPORATE EXISTENCE DURING THE PERIOD OF TEN YEARS FROM 1893 TO 1904, INCLUSIVE. No. of banks. 1895. 1896. 1897 . 181- 8 . 1899 . 1900 . 1001 1902 . 1903 . 1904. Total. Capital. Circulation. 79 21 23 24 32 46 101 197 190 146 $11, 912, 000 2,403, 800 3,014,000 2, 579, 000 4,330,000 8,057,100 13,803,150 36, 517, 300 24,730,500 21, 601,100 $3 728,025 818, 995 936, 675 943, 200 I, 930,500 2. 989,385 4 766, 650 8, 220. 037 5 671, 000 4, 200, 630 85'J 129,013,950 34 205, 097 STATEMENT SHOWING- THE TITLE, LOCATION, CAPITAL, AND CIRCULATION OF BANKS, THE CORPORATE EXISTENCE OF WHICH EXPIRED DURING THE YEAR ENDED OCTOBER 31, 1894, A*XD OF THE ASSOCIATIONS WHICH SUCCEEDED THEM. Title and location. Capital. 'Circulation. Expiring associations: The Second National Bank of Bay City, Mich The First National Bank of Farmer City, 111 The First National Bank of Kasson, Minn The First National Bank of Lagran-ge, Ind The First National Bank of Fairfield, Me The First National Bank of Petaluma, Cal Succeeding associations: The Old Second National Bank of Bay City, Mich The Old First National Bank of Farmer City, 111.. The National Bank of Kasson Minn The Nationnl Bank of Lagran^e, Ind The National Bank of Farrtield, Me $230, 000 50, 000 50,000 65. 000 50, 000 200,000 $180, 000 11, 250 11, ^0C 22. 500 13, 500 45, 000 665, 000 283,950 400, 000 50, 000 50, 000 50. 000 50, 000 45, 000 11,250 11,250 11,250 13, 500 600, 000 92, 250 STATEMENT SHOWING THE NUMBER, CAPITAL, AND CIRCULATION BY STATES, OF NATIONAL BANKS, THE CORPORATE EXISTENCE OF WHICH WAS EXTENDED DURING THE YEAR ENDED OCTOBER 31, 1894. State. No. of banks. California Colorado Florida Illinois Indiana Iowa *. Kentucky Massachusetts... Michigan New H a m p s h i r e . Capital. $500,000 100.000 50. 000 608. 000 475. 000 75. 000 825. 000 500.000 300. 000 50, 000 ! Circulation. State. $15, 0C0 \ New York 22, 500 North Carolina 45, 000 Ohio 203,175 Pennsylvania... 153,000 Tennessee 18. 000 Texas 148, 5<!0 West Virginia.. 405. 000 Wisconsin 67, 500 11, 250 Total No. of banks. Capital. Circulation. $100, GOO 175, 000 250, 000 200,000 170, 000 500, 000 75, 000 100, 000 $90. 000 45, (tOO 186, 750 112,500 40. 500 45, 000 16, 875 22, 500 5,143,000 1,678,050 REPORT OF THE COMPTROLLER OF THE CURRENCY. 143 STATEMENT SHOWING THE NATIONAL BANKS, THE CORPORATE EXISTENCE OF WHICH WILL EXPIRE DURING THE YEAR ENDING OCTOBER 31, 1895, WITH THE DATE OF EXPIRATION, CAPITAL, AND AMOUNT OF UNITED STATES BONDS AND CIRCULATING NOTES. Title and location. State. 2220 i The "Waynesville National Bank, Waynes- Ohio. ville. 2217 ' The Second National Bank of Youngstown. Ohio. 2238 The First National Bank of Auburn Ind.. 2260 2222 2246 2223 2224 22L6 2227 2247 2225 2245 2228 2244 2229 2234 2240 22 4 3 2233 2232 2231 2235 2249 2259 2203 2237 2230 2242 2248 •2265 2252 2262 2256 226G 2264 2255 2250 2251 2257 2294 2253 2267 2295 2271 2261 2280 2269 2274 2290 2275 2276 2272 2300 2270 2278 2284 2279 The Manufacturers' National Bank of Lewiston. The First National Bank of McKeesport... The First National Bank of Clinton T.he"First National Bank of Montrose The First National Bank of Nunrla The Citizens' National Bank of Warren The Lyeoming National Bank of "Williamsport. The First National Bank of Malvern The First National Bank of Brewsters The First National Bank of May field The Farmers' National Bank of York The Sharon National Bank, Sharon The National Bank of Havorstraw The Citizens' National Bank of Muneie The Second National Bank of Nashua The City National Bank of Plainneld The Merchants' National Bank of Whitehall. The First National Bank of Attlehoro The Messalonskee National Bank of Oakland. The Third National Bank of Allegheny Ths Jenkintown National Bank, Jenkintown. The First National Bank of Dexter The N ational Bank of Newport The Marine National Bank of Pittsburgh.. The Diamond National Bank of Pittsburgh. The Havana National Bank, Havana The First National Bank of Oakland The "Wachusett National Bank of Fitchbnnr. The First National Bank of Millersburg ... The Citizens' National Bank of New Bedford. The Farmers and Mechanics' National Bank of Mercer. The Union National Bank of Oakland The Packard National Bank of Greenfield.. The Orange National Bank, Orange The Bristol National Bank, Bristol The Greenville National Bank, Greenville.. The Second National Bank of lied Bank . . . The National Bank of Granville The Hatboro National Bank, Hatboro The Vnion National Bank of Phillips The Merchants'National Bank of St. Johnsbury. The Bloomsbury National Bank, Bloomsbury. The German National Bank of Allegheny.. The Citizens' National Bank of Ashland... The Augusta National Bank of Staunton .. The Randolph National Bank, West .Randolph. The Barton National Hank, Barton The Home National .Bank of Milford The First National Bank of Newport The National Bank of Cortland The First National Bank of Trinidad The National Shoe and Leather Bank of Auburn. The DuquesneNationalBank of Pittsburgh The Westminster National Bank of Gardner. The Metropolitan National Bank of Pittsburgh. Me .. Date of expiration. 1894. Dec. 14 Bonds. Circulation. $50,000 $12, 500 200,000 50,000 70, 000 12, 500 , 200,000 50, 000 45,000 250, 000 100,000 50, 000 50, 000 100, 000 100, 000 50,000 25, 000 12, 500 12, 5 0 25, 000 75, 000 45, 000 22, 500 11, 250 11, 250 22, 500 67,500 12, 500 55, 000 40, 000 100, 000 32, 000 50, 000 50, 000 50, 000 40, 000 50,000 11, 250 49, 500 36, 000 90, 000 28, 800 45,000 45, 000 45,000 36, 000 45, 000 $11,250 Dec. 15 Dec. 19 1895. Jan. 2G Jan. 29 ...do.... Feb. 5 ...do.... Feb. 8 Feb. 9 ...do.... Feb. 15 ...do . . . . Feb. 25 Feb. 20 Feb. 27 ...do.... Mar. 1 ...do.... Mar. 2 50, 100, 150, 200, 125, 50, 200, 150, 150, 50, Mar. Mar. 3 0 100,000 75, 000 20, 000 • 22, 500 18, 000 Mar. 15 ...do . . . . 200,000 100, 000 1C0, 000 ' 50,000 90,000 45, 000 Mar. Mar. Mar. Mar. Mar. Mar. ...do 100,000 100,000 300, 000 200, 000 50, COO 300, 000 250, 000 25,000 50, 000 70, 000 5;), 00) 50, 000 50, 000 100, 000 22, 45, 03, 45, 45, 45, 90, 50, 000 500, 000 50, 000 ! 100,000 I 45,000 90, 000 10 19 20 22 25 30 ....| Cal.. Mass P a . . . Apr. 5 i Mass . . . d o . . . . I P a . . . Apr. 7 | Apr. Apr. Apr. Apr. Apr. Apr. Apr. Apr. Apr. Apr. N.J Capital. 8 10 13 14 15 17 21 24 26 27 000 000 000 000 COO 000 000 000 000 000 80,000 i 150, 000 100,000 100,000 100, 000 90, 000 75, 000 300,000 52, 000 50, 000 300, 000 25,000 ! 63, 000 • 11,250 500 ' 000 000 000 OuO 000 000 20,000 | 18, 000 50,000 50, 000 70, 000 25, 000 25, 000 75, 000 50. 000 15, 000 50, 000 50,000 45, 000 45, 0U0 63, 000 22, 500 22. 500 67, 500 45, 000 13. 500 45, 000 45,000 Apr. 28 50,000 12, 500 11,250 Apr. 30 May 5 May 6 May 8 200, 000 60, 000 100, 000 75,000 50, 000 15, 000 100.000 19, 000 45, 000 13, 500 90. 000 17,100 ...do.... May 10 May 11 May 13 May 15 May 24 150, 000 130, 000 200. 000 125, 000 ] 00, 000 400, 000 37,500 130, 000 50, 000 31, 250 25, 000 50, 000 33, 750 117,000 45, 000 28,125 22, 500 45, 000 200, 000 100,000 100, 000 25, 000 90, 000 22, 500 200,000 150, 000 135, 000 May 25 May 26 P a . . . . June 2 144 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE NATIONAL BANKS, THE CORPORATE EXISTENCE OF WHICH WILL EXPIRE DURING THE YEAR ENDING OCTOBER 31, 1895, ETC.—Continued. Title ami location. State. 2277 2288 2289 2292 2287 2293 2303 2306 2299 2297 2301 2312 2304 2302 2305 2307 2308 The Fourth National Bank of Boston The Spencer National Bank, Spencer The Metropolitan National Bank of Boston. The City National Bank or Gloucester The Farmers' National Bunk of Pekin The National Bank of Slatington The Western National Bank of York The Merchants' National Bank of Waterville. The Citizens' National Bank of Keene The Georgetown National Bank, Georgetown. The Perkionien National Bank of Pennshurg. The First National Bank of Webster The Winthrop National Bank of Boston . . . The First National Bank of Bellevue The People's National Bank of Brattleboro.. The Iowa National Bank of Des Moines . . . The First National Bank of Lehighton Total Date of expiration. Circulation. Capital. Bonds. Mass June 7 Mass Juno 12 Mass -| . . . d o . . . . Mass . July 15 I l l . . . . July 19 P a . . . . ! July 21 P a . . . . | July 22 Me . . . ' Aug. 4 $750,000 150, 000 500, 000 150, 000 100, 000 100, 000 150, 000 100, 000 $100,000 150, 000 50, 000 150, 000 25, 000 25, 000 62, 500 25, 000 $90, 000 135, 000 45, 000 135, 000 22, 500 22, 500 56, 250 22, 500 N. H . . Aug. 19 Mass . Sept. 2 100, 000 50, 000 100, 000 12,500 90, 000 11,250 Pa 100, 000 25, 000 22, 500 100,000 300, 000 50, 000 100,000 100, 000 75,000 25. 000 50, 000 12, 500 25, 000 25, 000 20,000 22, 45, 11, 22, 22, 18, ; Sept, 10 Mass -| Sept. Mass .j Sept. Ohio . . ! Sept. V t . . . . ! Sept. Iowa . Oct. P a . . . . 1 Oct. 13 15 17 18 20 23 500 000 250 500 500 000 10, 962, 000 3, 722, 250 3, 350, 025 REPORT OF THE COMPTROLLER OF THE CURRENCY. 145 STATEMENT GIVING TITLES OF NATIONAL BANKS WHICH WERE CLOSED TO BUSINESS, BY VOLUNTARY LIQUIDATION AND OTHERWISE, DURING THE YEAR ENDED OCTOBER 31, 1894, WITH DATE OF AUTHORITY TO COMMENCE BUSINESS, DATE OF CLOSING, CAPITAL, AND CIRCULATION ISSUED, REDEEMED, AND OUTSTANDING. Karne and location of bank. Date of authority Date of closto commence ing. business. Circulation. Capital stock. ReOutIssued. ileemed, standing. Garden City National Bank, San Jose, Call* June 3,1887 July 1,1893 $100,000 $21, COO $10,740 First National Bank, Siiokane Falls, Wasli.U Oct. 24,1882 July 2G, 1893 ! 250,000 45, 00a I 20, CGO Second National Bank, Helena, j Mont.* , July 20,1882 75, 000 17,420 | 7,720 Sept. 30,1893 j First National Bank, Minneapo! June 17,1885 50, 000 lis, Ka-ns G, 383 11,250 I Oct. - 9,1893 ; First National Bank, Wharton, Apr. 20,1893 50, 000 Tex 4,550 11,250 i Oct. 14,1893 I Hutcliinson National Bank, May 29,1884 100, 000 Hutchinson, Ivans.\ 8,500 Oct. 18,1893 j 22,500 ; Farmers and Merchants' National Aug. 25,1884 Oct. 19,1893 ! 100,000 Bank, Clarksville, Tenn. 22,100 | York National Bank, York, Nebr.. Apr. 23,1884 Nov. 6,1893 j 100,000 21,847 ; 9,660 First National Bank, Genesee, Oct. 24,1892 NOT. 13,1893 ! 53, COO Idaho 3,870 11,250 First National Bank, Centerville, Mich Mar. 26,1873 I Nov. 25,1893 50, 000 10,650 ! 3,815 Randolph National Bank, Kan- { I ! dolph, Mass Oct. 29,1864 | Nov. 27,1893 200, 000 172,050 ! 62, 555 First National Bank, Caldwell, Kans Mar. 29,1887 j Dec. 2,1893 | 50, 000 10,250 i 2,110 Citizens' National Bank, Grand I Dec. 29,1883 | Dec. 4,1893 j eo, ooo 13,500 j 6,350 Island, Nebr.+ Oregon National.Bank, Portland, J u n e 7,1887 Dec. 8,1893 i 200, COO 45,000 ! 21,740 Oreg.+ , First National Bank, Princeton, Oct. 18,1892 Dec. 18,1893 50, 000 10,870 4,130 Minn . First National Bank, Trenton, Mo. J a n . 9,1889 Dec. 23,1893 50, 000 11,250 4,700* Grundy County .National Bank, Trenton, Mo Dec. 7,1888 11, 250 ..do . 50. 000 5,080 First National Bank, I,uling, Tex. Mar. 20,1890 11,250 .do . 50, 000 2, 700 NationalBank of Sioux City, Iowa. Oct. 7,1890 Dec. 29,1893 900,000 43,950 9,250 State National Bank, Jefferson, Tex Apr. 2,1892 Dec. 30,1893 I 50, 000 9,050 710 First National Bank, Ilushville, Dec. 13,1889 Jan. 1, 1894 j 50, 000 10,750 | 3,090 Nebr. First National Bank, Fredonia, J a n . 14,1888 J a n . 2,1894 i 50, 0CO 10,750 3;C90 Kans .. National Bank of Commerce, Provo City, Utah Dec. 18,1890 . . . . d o 10, 400 j 3, 260 | 50, 030 First National Bank, Colorado, i Feb. 27,1883 J a n . 9, 1894 j 100,000 Tex. 22, 000 5, 590 Citizens' National Bank, "WhiteApr. 13,1883 ....do water, Wis I 75, CO'J ! 15, 195 4,790 Farmers and Merchants' National Oct. 11,1830 Jan. 10,1894 100,000 Bank, "Union City, Tenn 22, 350 5,050 First National Bank, Fort Payne, I J u l y 2,18S9 Jan. 24,1894 i 50, 000 Ala.t 11,250 3,810 First National Bank, Geneva, Nebr J u n e 19,1889 J a n . 30,1894 j 50, 000 10, 800 2,710 Saxton National Bank, St. Joseph, Mar. 12,1883 Feb. 1,1891 | 400, 000 Mo 67,875 i 14,000 BclmsterHax National Bank, St. I J u n e 20,1889 Joseph, Mo 500,000 42, 870 11, 560 ....do I First National Bank, Centralia, 50, 000 Wash Oct. 10,1890 ; . . . . d o 11,700 4,850 Third National Bank, Detroit, 300, 000 J u n e 1,1886 j do Mioh.J 45,000 j 18,170 First National Bank, Opelousas, J u n e 10,1890 Feb. 3,1894 La 50, 000 10, 850 2,470 16, 870 4,500 First National Bank, Llano, Tex.}. May 20,1890 Feb. 5,1894 | 75, 000 First National Bank, Watkins, Sept. 14,1883 Feb. 9,1894 . 50,000 N.Y.t , 11,250 3,140 State National Bank, Dallas, Tex. Mar. 31,1887 Feb. 10,1894 400, 000 43, 800 10,950 American National Bank, Springfield, Mo t J u l y 9,1890 F e b . 14,1894 200,000 45, 000 13, 260 45,000 13,260 First National Bank, Kinsley, J u l y 25,1 Feb. 15,1894 j 50,000 11,250 3,020 Kans . A.merican National Bank, Salt ! Lake City, Utah ; Oct. 7,1890 F e b . 24,1894 250,000 43,500 16,700 * Did not notify of liquidation until after October 31, 1893, and therefore did not appear in last tReceiver was'not appointed until after October 31, 1893. \ Failed and in hands of a receiver. 8182 -10 $11,160 24, 340 9,700 4,867 6,700 14, 000 16, 620 12,187 7,380 6,835 109,495 8,140 7,150 23,260 6.740 6,550 6,170 8,550 34, 700 8,340 7,660 7, 6G0 7,140 16,410 10, 405 17, 300 7,440 8,090 53, 875 31,310 6,850 26, 830 8, 38i) 12, 370 8.110 32,850 31,740 8,230 26,830 report. 146 REPORT OF THE COMPTROLLER OF THE CURRENCY. S T A T E M E N T G I V I N G T I T L E S O F N A T I O N A L B A N K S W H I C H W E R E C L O S E D TO B U S I N E S S , BY VOLUNTARY LIQUIDATION AND OTHERWISE, ETC.—Continued. Name and location of bank. ! Date of D a t e of closauthority Capital ing. stock. to commence business. Circulation. Issu ed. OutRedeemed. standing. $21, 450 $5, CGI First National Bank, Clinton, Mo. Feb. 21,1872 Feb. 28, 1894 $100, 000 First National Bank, Medicine 4, 370 Lodge, Kans Sept, 24,1884 Mar. 1, 1894 [ 50, 000 11, 250 Globe National Bank, Kalispell, 4, 470 10, 930 50, 000 Mont i Nov. 21,1891 Mar. 2, 1894 First National Bank, Do Witt, I 50, 000 750 Nebr r ! Apr. G, 1893 Mar. 12, 1894 3, 200 10, First National Bank, Harrison- I( 2 020 Mar. 17, 1894 50,000 ville, Mo 10, 1887 10, 850 July "Union National Bank, Salt Lake 400, 000 43, 950 7, 800 City, Utah Feb. 19,1885 Mar. 23, 1894 Aspen National Bank, Aspen, 4, 115 Apr, 25,1892 Apr. 9, 1894 100, 000 Colo . -: 21, 830 First National Bank, Fairfield, 10, 750 50, 000 Nebr Apr. 28.1886 A p r . 10, 1894 3, 270 Sagadahoek National Bank, Bath, * 5, 810 100, 000 43, 925 20,1865 A p r . 11, 1894 Mo Merchants and Manufacturers' 34, 310 6, 7G8 National Bank, Detroit, Mich . . July 13,1877 Apr. 14, 1894 500, OCO First National Bank, Jersey ville. 2 G30 50,000 10, 850 Ill .' Mar. 30, 1S7G A p r . 28, 1894 American National Bank, Salina, 100, 000 May20, 1890 Apr. 30, 1894 21, 550 Kans 3, 110 First National Bank, Denison, 5, 481 43, 050 150,000 Tex Apr. 7,1873 . . . do . . First National Bank, Boulder, so, ooo Mont Max- 28,1890 May 1, 1894 1, 750 11, 250 do . . FirstNationalBank, Hopkins, Mo. Dec. 9,1889 50,000 10, 750 1, 460 45, 000 13, 422 First National Bank, Sedalia, Mo.;. Jan. 2,1886 May 4, 1894 250, 000 Second National Bank, Bay Citv, 180, 000 34, 610 Mich , \.. May 12,1874 May 5, 1894 250, 000 State NatiojQaZ Bank, Wichita, 4, 440 22, 500 June 29,188G May 7, 1894 100,OCO Kans/" National Bank of Pendleton. 5 790 22 500 Oreg.* '.. Mar. 5,1890 May 16, 1894 100, 000 First National Bank of Mystic 010 51 150, C O O May 21, 1894 33, 12,1864 Feb. Bridge, Mystic, Conn '. F i r s t s ational Bank, Kendallville, 5 300 50. 000 300 May 24, 1894 44, 12,1882 May Ind First National Bank, Columbus, 75, COO 66, (500 19, 000 Feb. 28,1882 May 30, 1894 Miss First National Bank, Farmer 1 900 50, 000 . . . . d o . . 10 810 July 11,1874 City, 111 Second National Bank, Louis ville, 6 J u n e 2 1894 300,000 172 700 01 2,18G5 Feb. Ky Fourth National Bank, Louisville, do . 300, 000 42 450 3 GOO 26,1882 Sept. Ky Merchants'National Bank, Louis6 . . . .do . 500, COO 43 650 100 July 31, 1874 ville, Ky Kentucky National Bank, Louis3 500, COO 708 43 500 Dec, 27,1871 . . . . d o . ville, Ivy German National Bank, Denver, 3 310 Apr. 9,1877 : J u n e 6 1894 200, 000 1 45 000 Colo/ Deadwood National Bank, Deau250 100, 000 | 21 500 | A « S 30,138G J u n e 7 1894 wood, S. Dak Merchants'National Bank, Dead3 370 100,OCO : 22 500 Mar. 4,1880 ; J u n e 8 1894 wood, S. Dak First National Bank, Neihart, 10 790 170 50, 000 July 22,1891 June 11 1894 Mont First National Bank, Sterling, 50, 000 10 750 Now 20,1889 ! June 16 1894 1 070 Nebr Black Hills National Bank, Uapid 4 350 75,000 11 250 Oct. 23,1885 June 21 1894 City, S. Dak.* Gate'City National Bank, Texar 50,000 9 300 1 010 Aug 19,1890 . June 30,1894 kano, Ark FirstNationalBank, Constantine. 50, 000 | F e b . 17,18G5 !July 1 1894 12 780 1 120 Mich Socorro National Bank, Socorro, 11 250 so, o;;o M a y 20,1S91 \ July 16 1S94 N..Mex First National Bank, Kasson, 1 405 50, COO i J u l y 25,1874 July 22 1894 Minn . H 4G0 First National Bank, Arlington, 11 250 850 July 2 G 1834 5;), coo Apr. 21,1887 Oreg.* '. First National Bank, Grant • 2 450 50, ooo 11 250 Nebr.* .' ' Dec. 4,1839 j . . . . d o . First National Bank, Dodge City, 1 1 1 290 50, 000 11 250 Kans '.. Dec. 4,1886 J u l y 27 1834 Failed and h h a n d s o " a receiver. $15, 489 6, 880 6, 4G0 7, 550 8, 830 36, 150 17, 765 7, 480 38, 115 27, 542 8, 220 18, 440 37 569 9,500 9, 290 31, 578 145 390 18 0G0 16 710 32 959 39 000 47 GOO 8 910 54 472 38 850 37 550 39 792 41 690 16 250 19 130 10 620 9 083 G,903 8 380 11 GGO 11 250 10 055 G 400 8 800 9 930 REPORT OP THE COMPTROLLER OF THE CURRENCY. 147 STATEMENT GIVING TITLES OF NATIONAL BANKS WHICH WEKI; CLOSED TO BUSINESS, r»Y VOLUNTARY LIQUIDATION AND OTHERWISE, ETC—Continued. Stato National Bank, Denver, Colo First National Bank, La Grange, Ind 1. Washington National Bank, Spokane Falls, Wash First National Bank, Fairfield, Mo Bates County National Bank, Butler, M o . . ! Baker City National Bank, Baker City, Or'eg.* Wichita National Bank, Wichita, Kans.* State National Bank, Vernon, Tex/ First National Bank, Montesano, Wash First National Bank, Fort Pierre, S. Dak Farmers and Merchants' National Bank, Auburn, Nebr First National Bank, Ireton, Iowa Kansas National Bank, Topeka, Kans N ational Bank of Middletown, Pa.k First National Bank, Bessemer, Ala Cotton wood Valley National Bank, Marion, Kans First National Bank, Lincoln, Kans First National Bank, Oswcgo, Kans First National Bank, Petaluma, Cal First National Bank, Gibbon, Nebr First National Bank, Kearney, Nebr.v Capital stock. May 10,1882 July 28,1894 ! $300, GOO ! G5, 000 Sept. 12.1874 J u l y 30,1894 ; 250, 000 Apr. 2, 18S0 Aug. 24, 1874 July 6,1871 ....do I 50.000 Aug. 1,1894 ! ....do . Jan. 11,1890 . . . . d o 125, 000 75, 000 OutReIssued. deemed. standing. $44. 000 $3 870 22, 500 I 1 550 ! 45, 000 ; - 730 12,900 §10,130 20, 950 CX 270 l 250 11, 050 30, 5±1 ; i 231 35, 310 o 10,870 920 13, 950 Sept. 29,1882 Aug. 13,1894 . 250, 000 45,000 !' 22 3 0 Sept. 27,1889 Aug. 18. 1894 I 10), 00J 21, 040 3 810 17, 830 July 18.1S92 Aug. 20,1894 50, 000 11,250 810 10, 440 Feb. 030 ' 10, G20 19,1890 Aug. 28,1894 i • 42,770 50, 000 11. 250 Aug. 29, 1894 Sept. 1,1894 50, 000 50, 000 10,750 1 11,350 Sept. 1.1894 Sept. 6,1894 300, 000 85,000 43,800 800 ! (50, 785 10 050 43, 000 50, 135 . 50, 000 11,250 400 10, 850 50. 000 11,250 1 500 50 000 10, 750 510 Aug. 31,1883 Sept. 15, 1804 00, 000 10.440 :J 03*0 12,400 Oct. 12,1874 Sept. 25, 1891 200,000 - 42, 90 J 950 41,950 J u n e 24,1891 Aug. 31,1892 Sept. 14,1887 Nov. 23,1864 Jan. 25,18C0 Sept. 10,1894 Oct. 4,1888 Sept, 12, 189-1 Mar. (5, 1880 . . . . d o Aug. 17,1888 Oct. 10,1894 Oct. 25,1882 . . . . d o 1000 ' 430 9, 750 10, 920 9, 750 10 240 50, 000 13,25 ) 11,23.) 150, 000 33, 750 33, 750 13.245,000 2, 007, 770 573 105 : 2, 094, 005 Total .. <Jirculatif Date of authority Date of closto commence ing. business. Name ami location of bank. 1 k Failed and in hands of a receiver. 148 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE AMOUNT OF AUTHORIZED CAPITAL STOCK OF THE NATIONAL BANKS OX THE FIRST DAY OF EACH MONTH FROM JANUARY 1, 1875, TO NOVEMBER 1, 189-4-. THE AMOUNT OF UNITED STATES BONDS ON DEPOSIT TO SECURE CIRCULATION,' THE AMOUNT OF CIRCULATION SECURED BY THE BONDS ON DEPOSIT, THE AMOUNT OF LAWFUL MOMEY TO REDEEM CIRCULATION, AND THE TOTAL AMOUNT OF NATIONAL-BANK NOTES OUTSTANDING, INCLUDING NOTES OF NATIONAL GOLD BANKS. IT. S. bonds A u t h o r i z e d on deposit to Circulation by capital stock. secure circu- Usecured . S . bonds. lation. Date. January February March April May Juiie July August September October November December 137: $487, 781, 551 $386,355, 300 $344,582,812 386, 640, 800 489,380,851 345, 358, 892 387,415,100 490, 486,151 345, 507, 312 388, 218, 350 492, 898, 951 346,164, 392 388, 983, 800 346, 834, 666 494, 428, 951 496,480, 951 389, 775, 000 347,185, 711 496, 496, 501 390, 410, 550 347, 267, 061 497, 921, 501 390, 855, 250 347, 862, 361 391,618,450 34S, 715, 421 498, 801, 501 392, 616, 000 350,173, 226 499, 111, 501 499, 232, 701 392, 852,100 350, 412, 046 "93,215,900 350, 692, 966 499, 533, 401 Lawful Total money on deposit to national-bank notes outredeem cirstanding. culation. $2, 484, 086 $347,066,898 2, 892,141 348, 251, 033 2, 651, 951 348,159, 263 2, 579,189 348, 743, 581 2, 641, 964 349, 476, 630 2, 300, 703 349, 486, 414 1, 917, 603 349,184, 664 2,104, 498 349, 966, 859 2,104, 498 350, 819, 919 2. 350, 896 352, 524,122 2. 009, 090 352,421,142 1. 928, 796 352, 621, 762 1874. JanuaryFebruary March .". April. May June July August September October November December January February March April May June July August September October November December 348, 624, 953 318, 255, 299 348,203, 489 348, 505,184 348,323, 390 348, 290, 340 347,182, 820 344, 851, 526 342, 310, 386 342,270,676 342, 367, 844 342, 685,175 2, 223, 283 2, 776, 278 3, 081, 323 3,120, 623 3, 360, 932 3, 560,162 4, 798, 212 7, 867, 254 11, 057, 679 11, 707, 870 11, 709, 402 12, 021, 071 350, 848, 236 351, 031, 577 351. 284, 812 351i625, 807 351,684,322 351, 850, 520 351, 981, 032 352,718, 780 353, 368, 065 353, 978, 546 354, 077, 246 354, 706, 246 ! I 503, 347, 901 ! 503, 467., 901 ! 503, 858, 521 505, 763, 300 506,103, 801 508, 531, 283 509, 386, 283 510, 706, 283 510,903,171 511, 084, 471 511, 613, 765 510, 686, 765 385,128, 250 384,174, 950 382, 076, 650 380,661, 600 379, 506, 900 379,126, 400 376, 314, 500 374, 894, 302 373, 956, 762 371, 489, 262 367, 549, 412 365, 836,912 342, 333, 837 341,121, 249 338,948, 494 337, 855, 479 336, 697, 831 336,110, 532 334, 698, 341 333,408,611 333,324, 225 331,239,470 327, 578, 260 326,725, 728 11, 794, 413 13,152,121 15, 300, 850 17, 593, 099 18, 349, 762 18, 344, 941 19, 709, 667 19, 440, 077 18, 535, 727 19, 300,112 20, 638, 642 21, 095,102 354,128, 250 354, 273, 370 354, 249, 344 355, 448, 578 355, 047, 593 354, 455, 473 354, 408, 008 353,118, 688 353,859,952 350, 539. 582 348, 2i6. 902 347,820, 830 511,155,865 510, 619, 965 510,189,171 509, 701, 671 507, 881, 671 506,013,371 506. 008, 371 505j226,171 504,971.171 5W, 027,171 502, 752,171 502, 652, 171 363, 601, 662 301, 430, 462 356, 732,150 350, 216, 350 346, 715, 350 344, 463, 850 341,394,750 340, 071, 850 338, 673, 850 337,955, 800 337, 727, 800 338, 261, 800 324,484, 539 321,319,645 318.413,293 312, 850, 786 310, 084, 721 307, 912, 468 305,417,013 303, 756. 276 302,847, 886 301, 819, 811 301, 658, 372 301, 844, 917 21, 995, 217 22, 648, 884 24, 405, 780 27, 627, 308 28,755,191 28, 753. 462 27,581,323 25, 982, 339 23, 087, 016 22, 532, 933 21,582,936 20,114,674 346, 479, 756 343, 968, 529 342, 819, 073 340, 478, 094 338, 839, 912 336, 665, 930 332,998.336 329, 738, 615 325, 934, 902 324, 352, 744 323,241,308 321. 959, 591 338,191, 300 338, 885, 450 338, 866, 550 340,537, 600 340,732,100 340,415,100 338,713,600 337,761,600 337,684,650 338, 002, 450 343,048, 900 345,130, 550 302, 020, 242 302, 201, 132 302, 416, 700 303, 523, 225 304,407,450 304, 766, 940 303,108,350 302, 239, 212 302, 440,152 302, 885, 797 305, 094, 140 308,642, 795 19, 575, 304 18,160. 486 16, 728, 336 16,146, 363 15, 386,137 14, 329, 272 13, 940, 522 14, 426, 746 14,246,546 14, 438, 272 13,113,091 11,988,924 321, 595, 606 320, 361, 618 319,145, 036 319, 669, 588 319, 793, 587 319, 096, 212 317, 048, 872 316, 665, 958 316, 686, 698 317,324, 069 318,207, 231 320, 631, 719 ! * ! | i 1875. 1876. January February.. March April May June July August September. October November.. December .. January February March April May June July : August September October November December 393, 000, 392, 644, 392, 506, 392, 809, 392, 937, 392, 863, 391, 171, 388, 566, 385, 889, 385, 649, 385, 421, 385, 378, 1877. 499, 003,401 498, 032, 201 498,150, 901 497, 505, 901 497, 020, 901 497, 657,401 498, 777, 401 500, 347, 401 500, 706, 401 502,181, 401 502, 931, 401 503, 301, 401 501, 392,171 497, 335, 071 496. 770, 571 494, 783, 571 493, 821, 771 493,126, 271 487,868,771 487, 221, 771 48(5, 605, 271 480, 449, 271 | 48(>, 677, 771 | 486, 7-12, 771 REPORT OF THE COMPTROLLER OF THE CURRENCY. 149 STATEMENT SHOWING THE AMOUNT OF AUTHORIZJSD CAPITAL STOCK OF THE NATIONAL BANKS ON THE FIRST DAY OF EACH MONTH, ETC.—Continued. Date. I$485, 557, 771 January February... March April May Juno July August. . . . September October. . . . November.. December . . January... February.. March April May June July August September. October . . . November. December . U. S. bonds Authorized \ on deposit to | capital stock, secure circui | lation. 484, 836, 371 482, 952, 071 482,144, 671 481, 019, 671 480, GOO, 571 479,G27.996 477. 675, 996 477, 698, 296 476, 335, 39G 473, 865. 396 473, 859. 396 $346,187, 550 346, 302, 050 346, 522, 550 346, 336, 250 347, 711, 850 349,166, 450 349. 516, 400 348, 880, 900 349, 049, 450 349, 560, 650 349, 408, 900 349, 795, 000 Lawful Total Circulation money on secured by i deposit to |«ational-bank U . S . bonds, i redeem cir- I notes outstanding c ulation. $309, 890, 415 310, 240, 005 310, 301, 472 310. 008. 832 310, 826, 422 312, 435,402 313, 020, 832 312,995, 592 313,154, 792 3i3,159, 592 312, 830, 797 313, 355, 839 $11,782,090 $321, 672, 505 11,839,305 322, 079, 310 11,688,519 321, 989, 991 12,184, 682 322,193, 514 12,315,257 323,141, 679 11,552,623 323, 988, 085 11,493,452 324, 514, 284 '.0, 910. 967 323; 906, 559 10, 294, 370 323, 449,162 9. 988, 127 323,147, 719 9, 629, 918 322, 460, 715 9, 935, 217 323, 231, 056 1879. 471, GG9,396 349,068. 000 469, 995,856 348,939, 200 467, 778,606 350, 690, 400 465, 890,006 351,196, 400 464, 608,206 352, 250, 550 463, 223,515 353, 422, 300 462, 843,515 354, 254, 600 462, 822, 515 353,201,800 462, 567,515 355, 638, 950 463,117, 515 359, 030, 500 462, 392,515 ! 363,802, 400 461,842, 365, 194, 900 313, 218. 189 312, 725, 809 313, 691, 639 314, 244, 779 315, 628, 352 316, 335. 949 317,315; 679 316. 412, 560 317; 534, 289 320, 868, 979 324, 054, 279 i 326, 684, 059 i 10, 573, 485 .1,673,960 12, 351, 531 12,882,417 13, 516, 558 13,203,462 12, 376, 018 13, 545, 677 13, 258, 698 13, 403, 261 13,127,139 13, 381, 719 323, 791, 674 324, 399, 769 326, 046,170 327,127,196 329,144,910 329,539, 411 329, 691, 697 329,958, 237 330,792,987 334,272,240 337,181, 418 340, 065, 778 1883. January.. February March. .* April May June July August September October November December 461, 557, 515 461,715,515 462, 407, 585 464,177, 585 464, 507, 585 464,915,185 465, 205,185 465, 915,185 466, 267, 285 466, 245, 085 466, 590, 085 467, 639, 085 367,021,000 364,765, 900 362, 728, 050 363, 656, 050 363, 003, 650 362, 715, 050 361, 652, 050 361,152, 050 361,113, 450 359, 935, 450 359,748, 950 359, 808, 550 328, 773, 639 326, 785, 599 325, 032, 790 325, 425, 390 325, 519, 740 325, 301, 700 324, 242, 730 323, 886, 720 323, 903, 330 323, 056, 530 322, 798,130 322,206,550 13, 613, 697 16, 945, 310 18,604,197 18, 959, 687 19,410,910 19, 882, 033 20, 262, 697 20, 266, 967 20,153, 448 20. 848, 363 21; 035, 977 21, 500, 091 342,387,336 343, 730, 907 343, 636, 989 -344, 385, 077 344. 930, 650 345; 183, 733 344, 505, 427 344,153, 687 344, 056, 778 343 904,893 343, 834.107 343,706, 641 467, 039, 084 466,981,785 466,640,185 466, 890,185 467, 542, 685 468, 557, 685 469, 382, 685 470, 322, 685 471,282,935 472, 565, 935 466, 307, 335 467, 907, 335 359, 823, 550 359,811, 050 345, 739, 050 351, 480, 000 354, 683, 000 358, 829, 900 360, 488; 400 362, 684, 000 364, 285, 500 365, 751, 500 369, 608, 500 371, 336.100 322, 832,101 322, 654, 721 305, 587, 202 309, 034, 317 316, 226, 247 318, 497, 814 321,148, 399 323, 478, 586 325, 324, 746 326, 513, 546 329,180,122 331, 729, 532 21, 523,102 21, 895, 977 38, 447, 716 38, 538,105 36, 374, 320 35, 653, 904 33, 894, 276 33, 846, 027 32, 675, 940 32, 237, 394 31,164,128 30, 438, 878 344, 355, 203 344, 550, 698 344, 034, 918 347,572, 422 352, 600, 567 354,151,718 355,042, 675 357. 324, 613 358; 000, 686 358, 750,940 360, 344, 250 362,168, 410 371, 692,100 371, 270, 200 473, 866, 240 370, 602, 700 475,411,240 369, 900, 700 478, 013, 940 366, 359, 650 482, 954, 940 364, 079, 350 486, 511, 335 361, 212, 700 487, 803, 635 362, 736, 500 487, 538, 635 361, 452, 350 489,741,635 362, 043, 250 491,591, G35 362, 505, G50 493,176, 635 362,174,250 332, 398, 922 331, 682, 622 331,230,311 331, 242, 702 327, 729, 622 323, 919, 522 320,312,832 319, 805,161 320, 769, 739 323, 487, 353 324, 304, 343 323, 820, 480 30, 023, 066 30, 913, 792 30, 713, 969 30, 383, 035 33, 340, 677 35,955,812 38. 429, 202 39, 017, 621 39,745,163 39, 401, 781 38, 423. 404 38, 723, 848 362, 421, 988 362, 596, 414 361, 944, 280 361, 626, 637 361, 070, 299 259, 875, 334 358, 742, 034 358, 822, 782 360, 514, 902 362, 889,134 362, 727, 747 362, 544, 328 492, 076, 635 494,199, 635 498, 262,135 498, 017,135 500, 209,135 505, 379,135 507, 208,135 510, 283,135 513, 543,135 322, 386,120 321, 626, 353 320, 235, 601 319, 849, 816 319, 899, 521 319, 013, 856 319, 249, 806 319, 461, 846 318, 367, 216 bl6, 278, 066 316, 020, 326 314, 573,106 40, 265, 049 40, 540, 877 41, 084, 788 39, 945. 249 39. 368, 605 39,150, 326 37, 565, 704 36, 310, 284 36, 222, 005 37, 064, 605 35, 993, 461 36, 385, 055 362, 651,169 362,167, 230 361, 320, 389 359,795, 065 359, 268,126 358,164,182 356,815,510 355,772,130 354, 589, 221 353, 342, 671 352, 013, 787 350, 958,161 1881. January February March April May June July August September October November December 1882. 470, 018,135 472, 303,135 January February March April May June July August September October November December January February-.. March April May June July August September . October November.. Digitized forDecember.. FRASER 1883. 515, 528,135 516,608,135 516, 348,135 360, 531, 650 359, 567, 450 358,163, 800 357, 201, 400 357, 339, 750 356, 588, 600 356, 596, 500 357, 298, 500 355, 674,150 353,308, 650 352, 877,300 351,174, 600 150 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE AMOUNT OF AUTHORIZED CAPITAL STOCK OF THE NATIONAL BANKS ON TIIK FIRST DAY OF EACH MONTH, ETC.—Continued. Date. January February March. .\ April May June July August September OctoberNovember December 1884. 1885. January February March April May Juno July August September October November December January... February.. March April , May Juno July August September. October November , December . January February . . March April May June July August September . October November . December.. 1886. 1887. j U. S. bonds Authorized i on deposit to Circulation secured by •apital stock, secure eireu " i IT. S. bonds. latioii. $518, 031,135 $347,538, 200 $310, 953,321 517, 380, 635 343,475, 550 307, 828, 001 ' 519,104, 635 341, 533, 050 306, 100, 465 ! 521, 573, 635 303, 699, 075 339,116,150 ! 523, 348, 635 337, 618, 650 302, 533, 855 301, 238,845 ! 525,992,165 336,257,150 ! 528. 784,165 334,147, 850 299, 369, 370 i 530, 784,165 332, 588, 600 297, 983,165 331, 371,100 297, 136, 455 1 532,274,165 522, 749,165 329, 186, 000 295, 375, 959 j 532, 554,165 325, 316, 300 291, 849, 659 320, 244, 700 28" 277, 980 531, 875,165 Lawful Total money on ! deposit to | national-bank notes outredeem cirstanding. culation. $39, 529, 507 41, 671, 892 40, 532, 837 41,015,561 40, 571, 613 39,768, 855 40,130, 513 39, 913, 971 39,495, 690 40, 453. 269 41, 710,163 44, 235, 274 $350, 482,828 349, 499, 893 346, 633, 302 344 714, 636 343, 105, 468 341, 007, 700 339, 499, 833 337. 897,136 336, 632,145 335, 829, 228 333, 559, 813 331, 513, 254 529,910,165 530, 380,165 530, 590,165 531, 151,165 531,241,165 530, 830, 865 531, 540, 465 532, 328, 465 532, 749, 965 532, 034, 965 532, 877, 965 533, 447, 965 318, 655, 050 317. 282, 600 315,854, 500 315. 386, 850 B15,127, 450 313, 428, 700 312,145, 200 310, 225,150 309, 768, 050 309, 074, 550 308,364,550! 307, 544, 250 285, 496. 055 284,127,895 282, 772, 315 282, 336, 725 282, 434, 075 280,831.610 279, 5281175 277, 826, 775 277,371,525 277,149, 661 276, 304,189 275, 821, 779 43, 662, 568 42, 784, 663 41, 888, 596 39, 881, 941 38,468, 630 38, 032, 217 39, 541, 757 39, 503, 567 39, 613, 802 40, 274, 772 39, 542, 979 41, 704, 029 329,158, 623 326, 912, 558 324,660, 911 322, 218,666 320, 902, 705 318,863,827 319, 0(39, 932 317, 330, 342 310, 985. 327 317, 424, 433 315,847,168 317,525,808 534,378, 265 535. 398, 265 537, 896, 965 538, 652, 065 540, 414, 565 543, 669, 565 515. 206, 565 549, 542, 565 550, 252, 565 553, 002, 565 552, 775.165 553, 855,165 306, 008. 750 302,257, 000 296, 780, 400 289, 729, 650 285, 447, 950 279, 537, 400 275, 974, 800 273, 549, 800 270, 524, 150 261, 848, 900 245, 444, 050 234, 991, 800 274. 466, 748 271, 065, 593 266, 047, 488 259, 405, 300 255, 322, 541 250, 257, 632 247, 087, 961 244, 675, 012 242,168, 247 234,682,736 219, 710, 656 210, 525, 601 42, 976, 706 46, 951, 839 52, 049, 017 56, 826, 227 58, 555, 047 61, 580, 662 61, 922, 499 62,151, 745 62, 505, 757 08, 828, 505 81, 819, 233 88, 781, 809 317, 443, 454 318, 017, 432 318, 096,505 316, 231, 527 313, 877, 588 311, 838, 294 309, 010, 460 308, 826, 757 304, 674, 004 303, 511, 241 301, 529,889 299, 307, 510 555, 865,165 557, 684, 165 559, 986, 665 561,321.665 564, 346, 605 571. 583, 665 574, 703, 665 578, 826. 215 581, 046, 215 582, 683, 715 583,188, 715 584, 203, 715 229, 438, 223, 926, 213. 639, 206, 938, 202, 446, 200, 939, 191, 966, 189, 445, 190, 096, 189.917, 188. 828, 187,147, 205, 316,106 200, 268, 346 191, 004, 726 185, 009, 551 181,026,016 179,309,020 171. 629. 341 169, 303, 430 169,951,385 169, 931, 680 169,215,067 167, 863, 819 91, 455, 875 92. 806, 395 98, 039, 485 102, 114, 704 103, 979, 299 103, 051, 871 107, 588, 447 107, 150, 847 104, 313,124 102, 962,170 102, 826,136 102, 019, 176 296, 771, 981 293, 074, 741 289, 044, 211 287,124, 255 285,005.315 282, 360, 891 279, 217, 788 276, 454, 277 274, 264, 509 272, 893, 850 272,041,203 269, 882, 995 581,720,915 586. 505, 915 588, 785, 915 589, 637, 915 591,437,915 592, 467, 915 592, 852, 915 594, 631,915 595,313,915 590, 041, 015 590.796,015 597, 457, 315 184,444,950 182,764, 950 182,161, 700 181,863,700 182, 033, 4S0 180, 005,150 178, 312, 650 177, 438, 800 176, 508, 850 173, 280, 250 170, 003, 350 166, 796, 550 165, 205, 724 163,833, 205 163, 235, 505 162,743,135 162, 891, 912 161,134, 338 159. 642. 657 158, 874, 203 158,133, 712 155, 365, 068 152, 366, 328 149, 487, 373 103,193,154 102, 024, 952 99, 492,361 97, 427, 882 95, 692,133 94, 675, 310 92, 719, 664 90, 758, 447 88, 294. 850 88, 236. 639 87, 018, 909 86, 955, 794 268, 398, 878 265, 858,157 262, 727, 866 260,171,017 258, 584, 045 255, 809, 648 252, 362, 321 249, 632, 650 246. 428, 562 243, 601, 707 239,385, 237 236, 443,167 598,239, 065 59!), 709, 365 600. 684, 365 602. 404, 365 603, 264, 365 607. 390, 305 609, 670, 305 612, 535, 865 614, 925, 365 617, 844, 365 620, 174, 365 621,959,365 163, 480. 900 160, 463, 950 157, 485, 700 154,590,150 151, 522, 350 149, 829, 850 148,121, 450 147, 758, 450 148, 150,700 147, 037, 200 145, 668,150 144, 709, 250 146, 372, 588 143, 580, 313 140,874,515 138,193, 798 135, 375, 463 133,769,313 132, 244. 437 131, 890, 777 132,101,128 131, 225,172 130, 207, 285 129, 388,116 87, 287, 439 85, 688, 716 83, 520, 212 83. 032, 333 83, 320, 725 81, 753, 704 79,134, 526 76, 273, 662 73,701,013 72, 437, 560 71, 816,130 70, 258, 081 233, 660, 027 229. 269, 029 224,394,727 221,226,131 218,696,188 215, 523, 017 211,378.963 208,164! 439 205, 802,141 203,662,732 202, 023, 415 199, 646,197 1888. January February March . . April May June July August September October November December January February March April May •June July August September October November December 1889. REPORT OF THE COMPTROLLER OF THE CURRENCY. 151 STATEMENT SHOWING THE AMOUNT OF AUTHORIZED CAPITAL STOCK OF THE NATIONAL BANKS ON THE FIRST DAY OF EACH MONTH, ETC.—Continued". U. S. bonds Authorized on deposit to i Circulation capital stock. secure ciicu- ! secured by U". >S. bonds. lation. Date. Lawful Total money on I deposit t o national-bank notes outredeem cirstanding. culation. 1890. January February . . March April May Juno July August . September . October November . December . . $623, 791, 365 $142, 849,900 630, 003, 865 142, 266,750 632, 757,865 143,197, 000 637, 372, 865 143, 900,750 638, 932, 865 144, 2i6,150 644, 587. 865 144, 658,050 646, 937. 865 145, 228.300 651, 367, 865 145, 434,750 652, 852, 865 143,102. 350 655, 002, 865 140,428, GOO 659, 782, 865 140,190, 900 662, 947, 865 140, 427,4C0 1891. January February M a r c h .". April May June July August September October November December 1892. January February March April M ay June July August September October November December I ! ! ! j I | I ! ! ' | ; i i | ! j j $127, 742,440 • $69, 487, 965 07, 895,259 i 126, 747,030 ! 127, 410,251 i 64, 857, 292 i 128,046, 801 i 62, 480, 331 60. 665. 663 ! 128,920, 916 | I 128, 976,526 s 58^ 573, 322 i 129,767, 150 I 56, 203, 625 { 129,854, 561 ! 54, 537, 072 ! 127. 825,431 ! 55, 455, 037 | 125,430, 316 ! 56, 440, 709 i 124,958, 736 i 54, 796, 907 ; 125, 253.195 53, 315,181 ; [ $197, 230, 405 194, 642, 289 192. 267, 543 190, 527,132 189, 586. 579 187, 549, 848 185. 970, 775 184, 391, 633 183,280, 468 181,871,025 179, 755, 643 178, 568, 376 065, 26' 666, 977. 669, 007, 671, 477, 672,197, 673, 422, 676, 247, 681, 742, 683,125, 6S4. 660, 084, 755, 085, 515, 140, 510, 050 1 125, 660,361 : 140,720,700 125, 859,360 ; 140, 790. 200 125, 957.235 i 141, 030.150 126, 054,415 ! 140, 949, 900 125, 970,955 ' 141, 310,150 126, 267,575 I 142, 508, DOO 127, 221,391 ! 146, 089, 650 129, 708,040 149, 839. 200 133, 790,690 151, 229,100 135, 093,378 1.52, 950, 35C 136, 753,837 155, 283, 700 138, 605,343 51,627,485 49, 762. 379 47. 706,139 45. 750, 649 44, 448. 421 42, 969, 884 40, 706,183 38,835,019 37, 543, 649 36, 842, 328 35, 430, 721 34. 388, 264 177, 287, 846 175,721,739 173,663,374 171, 805, 064 170, 419, 376 169, 237, 459 167, 927, 574 168, 543, 059 171, 334, 339 171.935, 706 172! 184, 558 172, 993, 607 685,762, 265 687, 332, 265 088. 332. 265 088. 923. 665 689, 298. 665 690. 908, 605 692, 123. 665 094, 428. G65 695, 263, 005 095.563,065 093', 868, 665 695, 308, 665 157, 205,950 | 140, 084, 203 158, 515,050 141,435,288 159,513, 800 142, 319, 978 160, 447,3C0 143, 355,178 143, 954, 506 161, 352,550 144.680,363 162, 549,050 145, 683, 023 163,190, 050 146,132. 463 163, 500,550 146, 46(h 033 164, 012,050 147,191,593 164, 498,550 147, 241. 063 164, 883,000 148, 010, 239 166, 511,500 32, 994, 382 31, 770. 208 30, 301, 897 29,174, 273 28, 522, 009 27, 818, 986 27, 000, 827 26, 395, 250 26,196, 396 25, 595,167 25,191, 083 25, 604, 632 173, 078, 585 173, 205, 496 172,621,875 172, 529, 451 172, 476, 575 172, 499, 349 172, 683, 850 172, 527, 713 172,656, 429 172, 786, 760 172, 432,146 173, 614, 871 695.148, 665 096,089,065 096.149, 665 095, 949,665 095, 554, 065 098, 454, 665 098, 824, 665 099, 034. 665 697, 963, 165 098,128.165 095, 953,105 095, 703, 105 168,247, 109, 282, 171, 094, 172, 229, 173, 258, 174, 539, 176, 588, 182, 617, 204, 096, 209, 407, 209, 416, 208, 942, 150, 526, 651 151,197,221 152, 887, 461 153, 860, 416 155,142,318 156, 028, 010 151,900,919 103, 221, 294 178, 636, 718 187,864,985 188,016,228 187, 697, 826 23, 877, 773 23, 194, 032 22, 534, 927 22, 234,128 21, 723, 296 21,136, 245 20, 812, 773 20, 533, 854 20, 343, 650 20,825, 595 21, 295, 765 21, 250, 279 174, 404, 424 174. 391, 253 175' 422, 388 170,094, 544 176,865,014 177,164, 255 178, 713, 692 183,755,148 198, 980, 368 208, 690, 580 209,311,993 208, 948,105 093, 353,105 091, 893,165 684, 690,165 682, 538,165 680, 438,165 678, 998, 165 678,023.165 677, 258,165 676,568,165 674, 866, 365 672, 671. 365 205,961,600 203, 594, 500 202,052,350 202, 933, 850 201, 330, 250 201, 251, 500 201, 691, 750 202, 268, 500 202,276, 050 200,953,700 199, 706, 200 185,194. 522 182,887,853 181.148, 710 181, 666, 268 180, 001, 247 180, 613, 585 180, 662, 521 181.149. 511 181,300,217 180, 251, 065 179.401,364 23, 344, 322 24, 974,254 26, 330, 810 26, 209, 427 27, 231, 785 26,631,434 26, 690, 723 26, 389, 555 26,- 211, 998 27, 220, 463 28, 071, 239 208,538, 844 207, 802,107 207, 479, 520 207, 875,695 207, 833, 032 207, 245, 019 207, 353, 244 207, 539, 066 207, 592, 215 207, 471, 501 207,472,603 • 1893. January February March..*. April May Juiie July August September October November December J anuary 1894. February March April May Juno July August September October November 152 REPORT OF THE COMPTROLLER OF THE CURRENCY. CHANGES IN CAPITAL, BONDS, AND CIKCULATION, States and Territories. Maine New H a m p s h i r e . . Vermont Massachusetts Rhode Island Connecticut Division Xo. 1. New York New Jersey Pennsylvania Division Xo. 2. Delaware Maryland District Columbia . Virginia West Virginia Division Xo. 3 . . North Carolina . South Carolina . Georgia Florida ... Alabama . . Mississippi Louisiana Texas Arkansas Kentucky Tennessee Banks existing October 31,1803. I Xo, Illinois — Michigan. Wisconsin ! Bonds, 83 $11,220,000 $4,259,400 51 G, 180, 000 3,714,000 3, 480, 500 48 7, 035, 000 268 99, 467, 500 30, 478,100 20,277, 050 7,621, 250 22,999,370 7,880,500 Banks organized during year ended October 31, 1894. ! iCirculation. Xo. j Capital. $3, 833, 460 3, 342, 600 3,132, 450 27, 430, 290 Bonds. Circulation. 100, 000 $27, 500 $24, 750 50,000 12,500 11,250 6, 859,125 7, 092, 450 57,433,750 j 51,090,375 150,000 40, 000 36, 003 88,141, 360 14,608,350 73,670,310 36, 439, 450 5, 235, 750 25, 645, 500 32, 795, 505 4,712,175 23, 080, 950 50, 000 100, 000 600, 000 12, 500 25, 000 212, 500 22, 500 191, 250 832 |l7G, 420,020 07, 320, 700 60,588,630 750, 000 250, 00!) 225, 000 2,133, 985 16,988,220 2, 827, 000 4, 796, 300 2, 961, 000 926,000 3, 755, 500 1,155,400 1, 594, 250 962,500 50, 000 12, 500 11,250 593 167,179, 520 99 399 30 833,400 3,379,950 :j 1,039,800 1,434,825 l! 866,250 165 1 23, 706, .305 j 8, 393, 650 j 7, 554, 285 | 24 i 14 I 17 29 12 20 222 ~~9 80 51 Division Xo. 4 . . I 505 Ohio Indiana Capital. BY GEOGRAPHICAL DIVISIONS. ! 243 ! 114 213 100 82 926, 000 748,000 191,000 500, 000 844, 000 115, 000 935,000 926,175 100, 000 512,900 500,000 70,298,075 825,840 917, 600 I 474, 750 427,275 1,186, 250 1,067,625 j 2 417, 500 | 375, 750 I $ J 1,020,150 ' 1,133, 500 318,375 353, 750 1, 037, 250 1,152, 500 5,061,690 5, 624,100 3 i 180, 000 200, 000 1 3, 645, 450 4, 050,500 1,232, ICO 1,369, 000 16,879,450 40,680,100 | 15,795,750 13,987,000 ' 5,122,050 15, 191, 505I 14, 216,175 4, 609, 845 0,910,000 I 0, 224,4C0 I 39, 408, 500 14,834,000 9,480,200 5,215,500 2,400,250 4,093,950 I 2,160,225 Division Xo. 5.-! 752 |l24, 389, £00 j 35, 449, 550 j 31,904, 505 j 169 77 79 j 137 Nebraska | 135 Division Xo. 6. .\ 597 Iowa Minnesota. Missouri... Kansas 14, 915, COO 16, 335, 000 23, 865, 000 12,174,100 13, 598,100 3, 722, 500 2, 055,800 2,345,300 3, 045, 750 3,122, 500 3, 350, 250 1,805,220 2,110, 770 80, 887, 200 14, 241, 850 12,817,665 j 9,125, 000 282, 000 36 j 8,975,000 39 ! 3,795,000 5 i 400,000 Indian T e r r i t o r y . . . Oklahoma * North Dakota . South Dakota Idaho 4, 075, 000 Montana « 1, 075, 000 New Mexico 2, 800, 000 Utah 7, 480, 000 Washington 1, 360, 000 "Wyoming Division X"o. 8.. 218 I 24,100,000 United States 3, 796 1695, 558,120 50,(00 12,500 11,250 150,000 37,500 33, 750 200,C00 *85, 000 100,000 50, 000 37, 500 25, 000 45, 000 33, 750 22. 500 250, 000 62 500 56, 250 800, 000 50 000 45, 000 10 j 1,585,000 I 262,500 j 236,250 102,500 50, 000 27. 500 12, 500 66, 250 50, 000 G2, 500 92, 250 45, 000 24,750 11,250 59, 625 45. 000 58. 250 13 j 1, 700, 000 j 371.250 334, 125 25, 500 87, 500 75, 000 31,250 25, COO 12,500 22, 950 78, 75!) 67, 500 28,125 22, 500 11, 250 510, 0C0 *200, 000 100,000 *50, 000 250, 000 400,000 250, 000 100, 000 400, 000 575. 000 * 125, 000 100.000 50, 000 12 I 1, 350, 000 | 256, 750 j 231,075 1, 717, 750 1, 545, 975 I 70, 500 63,450 I 1,543,750 1,389,375 I 757,300 I 681,570 ! 100,500 ! 90,450 I Colorado j Nevada ! California } " Oregon j Arizona Division Xo. 7.. j 134 I 22, 577; 000 | 4,189, 800 360, 000 300, 000 2, 615, 000 2, 610, 000 825, 000 2, 741,175 2, 810, 250 llT250 3,770,820 I 81,000 67, 500 75 000 579, 600 644 000 068, 025 742 250 185,625 206 250 902 100 811,890 300, 000 340,000 427. 500 475 COO 1,720 500 1, 548, 450 312 500 _28l i 250_ 4,956,840 5, 507 600 J209, 416, 350^188, 474, 715 j " I I. 90. 000 v Restored to solvency. *850, 000 100,000 125,000 25,000 *200, 000 51, 200 46, 080 1,150, 000 201, 200 6, 795, 0C0 1, 394, 20'J 18l7080 1,254,780 112. 500 22, 500 REPORT OF THE COMPTROLLER OF THE CURRENCY. CHANGES IN CAPITAL, BONDS, 153 AND CIRCULATION, BY GEOGRAPHICAL DIVISIONS— Continued. States and Territories. Increase in capital, bonds, and circulation of banks existing October 31,1893, and number of banks concerned in such increase. Capital. No. Vermont Khodt Island . . . . Connecticut Division No. 1.. Bonds. Division No. 2.. Delaware - -M^aryland Dist. Columbia West Virginia Division No. 3.. South Carolina .Alcibftlll*:! Mississippi Circulation. Xo. $22, 500 12,500 120, 000 11,250 108,000 2 155, 000 139, 500 2 155, 000 149,SCO 8 312,500 281, 250 11 150, 000 352, 500 317, 250 Iowa Minnesota Missouri Kansns Nebraska Division No. G.. Colorado Nevada California) Oregon Arizona Division No. 7.. Indian Territorv Oklahoma North Dakota South Dakota Idaho Montana New Mexico United States - - . $100, 000 50, 000 4 $52, 500 $47, 250 25, 000 120, 000 i 22, 500 i n s nnn 450, 000 405, 000 $40, 000 160,000 144, 000 4 2 15 50, 000 100,000 640,COO 462, 501 25, 000 372,SCO 416,250 22, 500 335,250 10 40,000 610, 000 549,000 21 790, 0C0 860,000 774, 000 1 50,000 12, 500 11,250 1 50, 000 12, 500 11, 250 1 1 13, 500 45, 000 2 100, 000 15, 000 50,000 50, 000 100, 000 27, 500 50, 000 24, 750 45, 000 3 150, 000* 77,500 G9, 750 4 200,000 90, 000 81, 000 2 150, 000 37,500 33, 750 2 200,000 185, 000 125,000 62,500 112,500 56,250 4 325, 000 62, 500 56, 250 2 800, 000 125, 000 125,000 31, 250 112, 500 28,125 75, 000 67, 500 i 75, 000 1 2 125,000 75, 000 31,250 5 200,000 181,250 163,125 15 1,785,000 443,750 399, 375 9 2 1 95, 25, 10, 800, 200, 000 000 000 000 000 166,1C0 75,000 2, 500 149,490 12 G7, 500 5 2,250 " 7 2 39,375 5 605,000 325,000 310 000 1, 200. 000 450,000 268, GOO 152. 500 81, 250 50, 000 106,250 241,740 137, 250 73 125 45, 000 95, 625 1,130, 000 287, 350 •258,615 31 2, 890, 000 G58,GOO 592, 740 50, 000 G, 250 5, G25 " 1 25, 000 5, 000 G, 250 4,500 5,625 4 4 2 4 2 150, 000 400, COO 575, 000 225. 000 75, 000 3l7750 87,500 75, 000 61,250 18, 750 287575 78, 750 67,500 55,125 16, 875 4 75,000 17,500 15, 750 10 1, 425, 000 274, 250 246, 825 12, 000 3,000 2, 700 1 12, 000 3, 000 2,700 1 250, 000 2 262, 000 3 16 2~ 43, 750 1 1 250 000 2 262,000 3, 000 67. 500. 28,125 2,700 3, COO 2, 700 ; 1 2 175, 000 31,250 28,125 Utah "Wei** h in °'ton Wvominfir Division No. 8.. 3 7 1 Ohio Indiana Illinois Wisconsin Division Net 5.. « • - ' - $25,000 -• Tennessee Division No. 4.. Bonds. 1 4 1 TContiiclcv Capital. 1 3 Pennsylvania circulation, and n u m b e r of b a n k s concerned in s u c h increase. 2 50 175, 000 2, 032, 000 31, 250 1, 520, 350 28,125 1, 368, 315 1,125, 000 181,250 | 163,125 9 200, 000 51, 200 i 46, 080 10 1, 325, 000 232, 450 ! 209, 205 8 110 8, 827. 000 2, 914. 550 : 2, 623, 0 9 5 154 REPORT OF THE COMPTROLLER OF THE CURRENCY. CHANGES IN CAPITAL, BONDS, AND CIRCULATION, BY GEOGRAPHICAL DIVISIONS— Contiimed. Decrease in capital, bonds, and circulation, with n u m b e r of b a n k s concerned in sucli decrease. States and Territories. Failed and liquidating banks. Capital. No. Bonds. ^Circulation. N o . M^aine New Hampshire... 2 $150,000 $65, 000 $58,500 Massachusetts 1 200,000 200, 000 180, 000 150,000 40, 000 4 500, 000 305, 000 New York i 50, 000 Pennsylvania 1 85, 000 2 I:J5, ooo Connecticut Division No. 1.. Division Ko. 2-. 36, 000 274,500 45 1,798,300 3, 727, 000 5,154, 300 12, 500 11,250 30 r 70, 0C0 03, 000 550,000 L, 879, 000 25, 000 59, 500 250, 000 2, 695, 000 4, 391,100 53, 550 2, 425, 500 82, 500 74, 250 58 825,000 7, 633, 500 6, 870,150 2 5 1 1 2 150, 000 480, 000 100,000 10, 000 46, 000 135.000 432,000 90, 000 9,000 41, 400 11 Kentucky Division No. 4.. Ohio Illinois Wisconsin Division No. 5.". Iowa Minnesota Missouri Kansas Nebraska Division No. 6.. Colorado Nevada . . California Oregon * Arizona Division No. 7.. Indian Territory Oklahoma North Dakota South Dakota Idaho New Mexico Utah Washington Wyoming Division No. 8... United States 1 1 8 1 4 19 Circulation. $135, 000 135, 000 3, 309, 300 495, 000 1, 080, 000 Division No. 3 . . 2 Bonds. $25, 000 150, 000 $150,000 150, 000 50, 000 1, 275, 000 3, 677, 000 550,000 240, 000 58, 300 I, 200, 000 West Virginia Tex i s Capital. 1 3 2 31 4 4 Delaware ATarvlind isforth Carolina South Carolina Oeor°"ia Florida .Alabnnin By b a n k s e x i s t i n g October 31, 1893. 100 000 75, 000 50 000 975 000 50, 000 1, G )0. COO 25 000 75, 000 12 500 206 250 12, 500 200,000 50 000 22 500 67, 500 11 250 1-85, 625 11, 250 180,000 45 000 3, 050, 000 581, 25!' 523, 125 786, 000 707, 400 4 50, 000 125, 0.0 112, 500 4 1 1 1 1 5 150,000 65 000 50, 000 25, 000 125 003 575,000 50,000 45, 000 9 2 258, 5C0 500 000 92, 500 83, 250 28 1,798,500 287,500 240, 750 19 1 3 4 1,100, 000 1, 678, 0C0 112, 500 30, 000 125, 000 250, 000 275, 000 25, 000 50, 000 1,510,200 101/250 112, 500 247, 500 45,000 2 2 5 1 115, 000 100, 000 1,150, 000 75, 000 75, 000 25, 000 325, 000 18. 750 67, 500 22-, 500 292, 500 16, 875 10 1,440,000 4 r \ 750 399, 375 29 1, 405, 0C0 \ 240-, 500 2, 010, 450 2 2 10 14 11 950, 000 100,000 1,775,000 1,310, 000 710,000 63, COO 25, 500 331,250 290, 000 177, 500 56, 700 22, 950 298,125 261, 000 159, 750 2 4 4 4 2 150, 000 1,100, 000 2 275, 000 115, 000 23, 000 50, 000 20, 700 45, C03 6,250 87,500 5,625 78, 750 39 4,815,000 887, 250 798, 525 10 3, 640, COO 166,750 150, 075 GO) 000 125 000 112 50 n 1 500 000 2 4 300 000 425, 000 75 000 106, 250 67 500 95, 625 1 150 000 9 1, 325. 000 306, 250 275, 625 2 650, 000 1 25,000 325, 000 50,000 225, 000 50, 000 700 000 600, 000 94, 000 12, 500 57, 500 12, 500 112 500 125, 500 84,600 11, 9 50 51, 750 11, 250 101 250 112, 950 2 150, 000 4 1 4 1 3 4 17 1,950. 000 414, 500 100 13, 245 : 000 3, 020, 500 373, 050 3 2, 718, 450 ~192 175, 000 10, 291, 800 16,821,250 15,139,125 155 REPORT OF THE COMPTROLLER OF THE CURRENCY. CHANGES IN CAPITAL, BONDS, AND CIRCULATION, BY GEOGRAPHICAL DIVISIONS— Continued. Increa se and decrease d u r i n g year ended October 31 1804. States and Territories. Total increase. Capital. Maine Vermont .... New York New tTersev Pennsylvania Division No. 2 Division No. 3 North Carolina South Carolina Qeoro'ia Alabama Division No. 4 Ohio Indiana Illinois . Michigan Wisconsin Division No. 5 Iowa Minnesota Missouri ... Kansas Nebraska •. Division No. 6 Colorado California Oregon Arizona Division No. 7 Indian Territory Oklahoma North Dakota South Dakota Idaho Montana New Mexico Utah Washington Wyoming Division No. 8 U n i t e d States Bonds. $65, 000 150, 000 150, 000 3, 877, 000 550, 000 1, 240, 000 Circulation. $52,500 $47, 250 25, 000 120, 000 22, 500 108, 000 155, 000 139, 500 $175, 000 150, 000 50, 000 1,475, 000 240, 000 208, 300 150, 000 352, 500 317,250 2, 298, 300 6, 032, 000 5, 428, 800 50,000 100 000 640, 000 462, 500 25, 000 372, 500 416, 250 22, 500 335, 250 600, 000 22, 500 335, 000 4,891,500 59, 500 2, 765, 000 4, 402,350 53,550 2, 488, 500 790, 000 860, 000 774,000 960,000 7, 716, 000 6, 944, 400 150, 480, 100, 10, 46, $58, 500 135,000 135,000 3, 489, 300 495, 000 1,116, 000 000 000 000 000 000 135, 000 432, 000 90,000 9,000 41,400 50, 000 12, 500 11,250 50,000 100,000 27,500 50,000 24, 750 45, 000 200,000 1 90, 000 81, 000 786, 000 707, 400 150,000 37,500 33, 750 50, 000 125, 000 112,500 112,500 56, 250 50, 000 45, 000 25 000 75, 000 12, 500 206,250 12, 500 292,500 50, 000 22, 500 67, 500 11,250 185,625 11,250 263, 250 45, 000 125, 000 62, 500 - 325,000 62,500 56, 250 800. 000 125 000 125,000 31,250 112, 500 28,125 150, 000 65, 000 150,000 100, 000 175, 000 1,550,000 50, 000 1, 858, 500 700, 000 1, 785, 000 443,750 399, 375 4, 848, 500 848,750 763, 875 605,000 1 325,000 i 310,000 1, 200, 000 450, 000 268, 152, 81, 50, 106, 600 500 250 000 250 241, 740 137,250 73,125 45,000 95,625 1,100, COO 115,000 130,000 1, 400, 000 100, 000 1, 678, 000 187,500 150, 000 600, 000 08, 750 1,510,200 168, 750 135, 000 540,000 61,875 2, 890, 000 658,600 592, 740 2, 845, 000 2, 084, 250 2, 415, 825 31, 750 87, 500 75, 000 61,250 18, 750 28,575 78, 750 67 500 55,125 16, 875 1,100, 000 1,200.000 4, 050, 000 1, 425, 000 710, 000 1, 425, 000 274, 250 246, 825 12T 000 3,000 2, 700 200, 000 185, 000 r •* Texas Arkansas Kentucky Tennessee Capital. 50,000 Delaware District of Columbia ... Virginia West Virginia Circulation. Bonds. $100, 000 Connecticut Division No. 1 Total decrease. 150,000 400, 000 575 000 225, 000 75,000 | 250, 000 262, 000 1,125, 000 200, 000 3, 000 ! 181, 250 51,200 | 1,325,000 232, 450 8, 827, 000 2 914,550 ; 2, 700 163,125 46, 080 000 500 250 250 000 77, 400 67, 950 298, 125 266, 625 238, 500 8, 485, 000 1, 054, 000 948, 600 1,100,000 125,000 112, 500 450 000 425,000 75 000 106, 250 67, 500 95, 625 1, 975, 000 308, 250 275, 625 94 000 12 500 57,500 12,500 112. 500 125,' 500 84 I1 51, 11, 101, 112, 25 325 50' 375, 50, 700, 600, 000 000 000 000 000 000 000 86, 75, 331 296, 265, 600 250 750 250 250 950 2,125, 000 414, 5G0 373,050 2, 623, 095 23, 536, 800 19, 841, 750 17,857, 575 209,205 156 REPORT OF THE COMPTROLLER OF THE CURRENCY. C H A N G E S I X CAPITAL, B O N D S , AND CIRCULATION, V,Y G E O G R A P H I C A L DIVISIONS— Continued. Neti ncrease and decrease—capital, bonds and circulation. Net increase States and Territories. Capital. Bonds. N e t decrease. ; Circulation. Capital. I I Rhode Island Connecticut Division Xo. 1 I, 475, 000 240,000 208,300 $11, 250 135, 000 112, 500 3,381, 300 495, 000 976, 500 2,148, 300 5, 679, 500 5, 111, 550 550, 000 4, 429, 000 34, 500 2, 392, 500 3,986,100 31, 050 2,153, 250 550, 000 0, 856, 000 0,170, 400 150,000 467, 500 100, 000 135, 000 420, 750 90, 000 717,500 045, 750 87, 500 78, 750 25,000 75, 000 12, 500 143, 750 12, 500 167, 500 18, 750 22, 500 67, 500 11, 2oO 129, 375 11, 250 150, 750 16, 875 $75 000 305, 000 Division No. 2 380,000 .... , . Delaware 50 000 District of (voliiiiibi*! W e s t Virginia Division ^No. 3 50, 000 100, 000 $17,500 4,000 200, 000 21, 500 $15, 750 , 3, G00 19, 350 100, 000 Tennessee 50,000 i°o coo 75, 000 62 500 270,000 137,500 07, 500 56 250 150, 000 100, 000 175,000 1, 225, 000 50, 000 1, 058, 5(!0 575,000 1 123, 750 Ohio Illinois JVtiehi <Tan Wisconsin Division No. 5 3,333,500 542,500 488,250 495, 000 200, 000 1, 409, 400 35, 000 08, 750 550,000 1, 268, 460 31,500 61,875 495, 000 095,000 2, 063,150 1,856,835 210 000 18J 00'J ; 350, COO 37, 500 1 740,000 37, 500 33, 750 33,750 ! Iowa 12, COO 10, 800 12,000 10, 800 Kansas Nebraska Division No. 6 Colorado Circulation. $12,500 150, 000 125, 000 3, 757,000 550,COO 1, 085, 000 $75, 000 150,000 Maine Bonds. 1 54,250 48,825 256, 250 235,000 246, 250 230, 025 211,500 221,625 7, 060, 000 I 791,750 712,575 1,088,000 122,000 109, 800 75,000 106 250 G7, 500 95, 025 1,713,000 303, 250 272,925 25,000 325,000 50, 000 94, 000 12,500 84,600 11, 250 50 000 700, 000 400, 000 12, 500 112,500 74, 300 11, 250 101, 250 06, 870 950,0CO 800, 000 3 475, 000 1 200, 000 035,000 450, 000 • 175 000 California Arizona Division No 7 Indian Territory Oklahoma N o r t h Dakota South Dakota Idaho ^Montana New Mexico Utah TVashington Wyoming Division No. 8 United States i i 750, OC0 123,750 111, 375 i 1 750,000 2, 340, 000 123 ; 750 111, 375 1, 550, 000 305, 800 275, 220 332 : 250 ! 1 299,0115 17, 049, 800 17, 259,450 15, 533, 505 REPORT OF THE COMPTROLLER OF THE CURRENCY. 157 DECREASE OR INCREASE OF NATIONAL BANK CIRCULATION DURING EACH OF THE YEARS ENDED OCTOBER 31,1887 TO 1894, INCLUSIVE, AND THE AMOUNT OF LAWFUL MONEY ON DEPOSIT AT THE END OF EACH YEAR. Net circulation outstanding, October 31, 1886 $219, 710, 656 National-bank notes outstanding October 31,1887, including notes of national gold banks $272, 041, 203 Less lawful money on deposit at same date, including deposits of national gold banks 102, 826,136 169,215,067 Net decrease of circulation 50, 495, 589 Net outstanding as above, October 31, 1887 ~" 1697215,067 National-bank notes outstanding October 31,1888, including notes of national gold banks 239, 385, 237 Less lawful money on deposit at same date, including deposits of national gold banks 87, 018, 909 152, 366, 328 Net decrease of circulation 16, 848, 739 Net outstanding as above, October 31, 1888 152, 3667321* National-bank notes outstanding October 31,1889, including notes of national gold banks 202, 023, 415 Less" lawful money on deposit at same date, including deposits of national gold banks 71, 816,130 130, 207, 285 Net decrease of circulation 22,159, 043 Net outstanding as above, October 31, 1889 ~vM^WT>WB Notional-bank notes outstanding October 31,1890, including notes of national gold banks 179, 755, 643 Less lawful money on deposit at same date, including deposits of national gold banks 54, 796, 907 124, 958, 736 Net decrease of circulation 5, 248, 549 Net outstanding as above, October 31, 1890 124, 9587736 National-bank notes outstanding October 31, 1891, including notes of national gold banks 172,184, 558 Less lawful money on deposit at same date, including deposits of national gold banks 35. 430, 721 136, 753, 837 Net increase of circulation 11, 795,101 Net outstanding as above, October 31, 1891 1367753, 837 National-bank notes oustanding October 31, 1892, including notes of national gold banks 172, 432,146 Less lawful money on deposit at same date, including deposits of national gold banks 25, 191, 083 147, 241, 063 Net increase of circulation 10, 487, 226 Net outstanding as above, October 31, 1892 TJf^UlT063 National-bank notes outstanding October 31, 1893, including notes of national gold banks 209. 311, 993 Less lawful monojr on deposit at same date, including deposits of national gold banks 21, 295, 765 188,016,228 Net increase of circulation 40, 775,165 Net outstanding as above, October 3i, 1893 188, 016, 228 National-bank notes outstanding October 31,1894, including notes of national gold banks 207, 565, 090 Less lawful money on deposit at same date, including deposits of national gold banks 28, 163, 726 179, 401, 364 Net decrease of circulation 8, 614, 864 The gross decrease of circulation, including the notes of gold banks and those of failed and liquidated associations, was $1,746,903. 158 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE SHOWING, BY STATES, THE AMOUNT OE NATIONAL-BANK CIRCULATION ISSUED, THE AMOUNT OF LAWFUL MONEY DEPOSITED IX THE UNITED STATES TREASURY TO RETIRE NATIONAL-BANK CIRCULATION FROM J U N E 20, 1871, TO OCTOBER31, 1894, AND AMOUNT REMAINING ON DEPOSIT AT LATTER DATE. Lawful in mey deposited to retire national-bank cireula' tion since June 20,1874. Additional ; States and Terri circulation ! For retories. j issued since j demption I June 20,1874.; of notes of liquidating banks. Maine ' New Hampshire .! Vermont j Massachusetts.. .| Khode Island I Connecticut j New York j New Jersey I Pennsylvania I Delaware • Maryland \ Dist.Columbia. ..'\ Virginia j "West Virginia... North Carolina .. J South Carolina... j Georgia.' Florida. Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee Missouri Ohio Indiana Illinois Michigan Wisconsin Iowa Minnesota Kansas Nebraska Nevada Oregon Colorado Idaho Montana Wyoming North Dakota ... South Dakota Washington California Utah New Mexico Arizona Oklahoma Indian-Territory Lawful m o n e y deposited prior toJune20,1874, and remaining at that date $4, 336, 809 3.213, 355 4,541, 595 : 52,203, 460 I 9.094, 155 j 11,254, 300 ! 64, 6(58, 174 i 7,314. 990 ! 41,150, 340 1,082 210 . , , 805 i 5, 310, 270 i 1, 037. 535 2. 772! 074 1.070, 210 1, 790. 310 439. 910 i 1,628, 2C0 ; 501, 104 1, 33;), 6(!0 | 356, 907 i 2, 902 100 s 6,129 81)0 ! 646, 459 | 9,180, 085 ! 2,411 330 4, 823 65-O 25, 506 237 9, 433 169 9,891 110 7.52C 540 3, 941 5, 2, 923 942, (.90 4, 031, 850 3, 785. 540 76. 050 781, 750 2, 339, 515 225, 405 .1,247, 405 278, 435 898, 200 859, 725 2, 104, 295 i 3, 087, 320 1.161, 050 409, 020 143, 540 90, 000 81, 000 Total $959. 262 642,715 1 1,117,587 I 2.327,465 ! 317. 017 I 1, 108,530 i 9,711,215 ; 1,431, i.88 ; 5,015, i:-:6 i 184, 800 455, 664 1, 208, 869 950, 310 434, 660 81. 050 491,295 105,290 382, 898 80,100 722, 263 738, 477 151.265 2, 252. 031 1,218.101 1,832,882 8,242,17!) 5,617,015 4,109,761 3, 725, 428 1.374,488 2, 080, 758 1, 125, 634 l,87l).41!5 644, 568 88, 670 402,105 22, 500 367, <U5 36, 0C0 185, 640 233, 620 412. 600 444, 990 259, 131 137,650 50, 590 21. 800 To retire circulation under act of J u n e 20, 1874. j To let ire ! circulation u n d e r act of J u l y 12,1882. $4, 405,235 2.521, 290 5,151). 003 57,107. 310 9, 359,081 14,845, 537 62, 825,992 9, 076,542 38, 572,093 1,132, 000 6, 780.665 982, 890 I 2, 386, 964, 140 ! 2, 265,707 \ 1,897, 012 ; 1, 723,855 ! 7, 790 1,081, 320 : 38, 450 3, 677,504 1 1.171, 008 ' 412, 120 8, 763,309 j 2,19!), 750 ! 6, 181.603 j 21,473, 606 ! 12, 137,907 I 12. 024,054 j 5, 833,498 ! 2, 747,380 I 4, 858,513 i 2, 659,824 I 1,021. 6J.0 ! 1,232, 662 I 13. 500 ! 181), HGO ! 712, 720 i 90. 268 i 334. 610 i 20, 250 ; 195, 70 j 100, 330 j. 385. 850 ;. 1, 340,51,0 I 527, 547 I 295, 200 ; 2. 5 0 0 i. $2, 561, 073 1,476,218 1, 964, 202 24, 787, 815 5, 977, 042 3,417,768 15, 580, 230 3,116, 970 15,801,678 458. 645 3, 665, 625 93, 580 763, 845 564,575 103, 463 158,223 I 575,270 ! 513,769,076 99,265,267! 229,057| I 925,994 j 915,305 03, 205 1,389,474 1 451,638 ! 025,505 i 5, 038, 759 j 1,38). 098 i 1.707,268 ! 452,2-18 • 653,250 -" 733.670 I 474. 091 ; 87, 341 241,755 82, 450 270. U0 14, 702 29,470 12,090 ! 45,000 ! 42,903 i 10.520 I Total deposits. $7,985. 570 4, 640, 223 8, 231, 852 84, 222, 590 15, 653,140 22,371,835 88,117,437 13,025,500 59, 448, 907 1, 590, 645 10,631,090 1,532,134 4, 358, 989 2, 479, 025 2, 803, 830 2,136, 285 2, 790, 420 113,080 1, 693, 275 118,550 5, 325, 701 2, 006, 3C0 620, 590 12,404,814 3, 860, 495 8, 620, 110 34,754,544 19,144, 080 17,901,083 10,011,174 4,475,124 7, 672, 977 4, 200, 149 2, 979, 526 2,118, 985 13, 500 351. 980 I 1,4«1, 285 I 127,530 I 732,025 I 68, 340 I 381,210 333, 950 798, 450 1,830,-190 829. 581 449, 370 53, 090 21,8 0 482, 292, 455 128, 071, 239 * This includes circulation issued under act of J u l y 12, 1882. f Exclusive of $92,487 on deposit to retire circulation of national gold b a n k s . $420, 560 367, 038 362, 050 5, 069, 511 906, 254 1,884,665 4, 856, 514 486, 791 3,271,106 170, 445 668, 566 87,484 163, 519 121,767 127, 057 66, 498 170, 710 24, 922 190, 762 52, 862 252, 934 • 237,784 61, 200 751,613 271, 592 382, 754 2,188,347 757,180 735, 999 720, 514 177, 314 332, 532 185,157 330,964 253, 664 9oi 39,724 118, 647 10, 335 98, 900 15, 488 38,543 75,970 187, 848 194,270 92, 846 73,135 910 9,030 REPORT OF THE COMPTROLLER OF THE CURRENCY. 159 STATEMENT SHOWING THE AMOUNT OV NATIONAL-BANK NOTES OUTSTANDING, THE AMOUNT OF LAWFUL MONEY ON DEPOSIT WITH THE TREASURER OF THE UNITED STATES TO REDEEM NATIONAL-BANK NOTES, AND THE KINDS AND AMOUNTS OF UNITED STATES BONDS ON DEPOSIT TO SECURE CIRCULATION AND PUBLIC DEPOSITS ON OCTOBER 31, 1894, WITH THE CHANGES DURING THE PRECEDING YEAR AND THE PRECEDING MONTH. \ October 31, ! S e p t e m b e vdO, I 1893. I 1894. National-bank notes. Total circulation. Total amount outstanding at the dates named Additional circulation issued during the intervals : To new banks To banks increasing circulation : .$209, 214,16G | ' 975, 600 ; 10,136, 620 Aggregate Surrendered and destroyed during the intervals ! 220, 326, 386 I 12, 853, 783 208, 465, 740 993, 137 Total amount outstanding Oct. 31, 1894*. | 207,472,603 j 207,472, Decrease in total circulation since Oct. 31,1893 Increase in total circulation since Sept. 30, 1894 j 1, 741, 563 $207,471,501 120, 810 873, 429 1,"102 Circulation based on United States bonds. Amount outstanding at the dates named Additional issued during the intervals as above j 188, 016, 228 j ! 11,112, 220 \ 180, 251,005 994; 239 199,128,448 I 181,245,304 Aggregate Retired during the intervals: By insolvent banks By liquidating banks By reducing banks 1 25i, 195 2 190, 268 16,282 621 Total retired during the intervals j Outstanding against bonds Oct. 31, 1894 Decrease in circulation since Oct. 31, 1893 Decrease in circulation since Sept. 30, 1894 United States registered bonds on deposit. Pacific railroad bonds, 6 per cents Funded loan of 1891, 4i per cents, continued at 2 per cent Funded loan of 1907, 4"per cents Loan of 1894, 5 per centsTotal on deposit Oct. 31, 1894 . 1, 843, 940 179, 401, 364 8, 614, 864 Amount of outstanding circulation represented by lawful money on deposit with the Treasurer of the United States to redeem notes: Of insolvent national banks Of liquidating national banks Of national banks reducing circulation under section 4 of the act of J u n e 20, 1874 Of national banks retiring circulation under section 6 of the act of J u l y 12, 1882 Total lawful money on deposit. 19, 727, 084 j j 179, 401, 364 j 849, 701 t Circulation secured by lawful money. Lawful money deposited in October, 1894.. National-bank notes redeemed in October, 1894. Increase in aggregate deposit since Oct. 31,1893.. Increase in aggregate deposit since Sept. 30, 1891 October 31, 1893. $1,335,614 4, 732, 400 October 31, 1894.* 920 5," 248'217 1, 886, 834 9,300 104 13, 243, 090 12,243 998 21,197,938 28,071, 239 6, 873, 301 1, 817,290 966, 487 850, 803 To secure circulating notes. To secure public deposits. ' $14, 043, 000 22, 749, 900 155, 932, 450 6, 980, 850 $1,195, 000 1, 013, 000 12,168, 000 500, 000 199, 700, 200 14, 876, 0G0 * Circulation of national gold banks not included in the above $92, 487, 33,250 139, 285 1 671, 405 160 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING PROFITS UPON CIRCULATING NOTES BASED UPON A DEPOSIT OF $100,000 BONDS, OCTOBER 31, 1893. October 31, 1S93—;?per cents. $100,000 twos at 96, interest Circulation, 90 per cent on par value Interest on loanable circulation at 6 per cent $90, 000. 00 Gross receipts Deduct— 1 per cent tax on circulation Annual cost of redemption Express charges Cost of plates for circulation Agents' fees $2,000.00 5, 400. 00 7, 400. 00 $900. 00 45. 00 3. 00 7. 50 7. 00 QQO 5 0 Net receipts $96,000 loaned at 6 per cent Profit on circulation Total profit on $22,020,550 bonds, $149,189.23. Percentage on maximum circulation obtainable, 0.677^ per cent. 6, 437. 50 5, 760. 00 677. 50 October 31, 1803—4 per cents. $100,000 fours at 111.1712 premium, interest Circulation, 90 per cent on par value Interest on loanable circulation at 6 per cent $90, 000. 00 Gross receipts Deduct— 1 per cent tax on circulation . . , Annual cost of redemption Express charges Cost of plates for circulation Agents' fees Sinking fund reinvested quarterly to liquidate premium $4, 000. 00 5, 400. 00 9,400.00 $900. 00 45. 00 3. 00 7. 50 7. 00 533. 25 Net receipts $111,171.20 loaned at 6 per cent Profit on circulation Total profit on $142,141,700 bonds, $1,754,000.16. Percentage on maximum circulation obtainable, 1.234 per cent. 1, 495. 75 7, 904. 25 6, 670. 27 1, 233. 98 October 31, IS93—G per cents. $100,000 sixes at 105.5945 premium, interest Circulation, 90 per cent on par value Interest on loanable circulation at 6 per cent $90, 000. 00 $6, 000. 00 5, 400. 00 Gross receipts 11, 400, 00 Deduct— 1 per cent tax on circulation 900. 00 Annual cost of redemption 45. 00 Express charges 3. 00 Cost of plates for circulation 7. 50 Agents'fees 7.00 Sinking fund reinvested semiannually to liquidate premium. 1, 307. 78 . 2, 270. 28 Net receipts $105,594.50 loaned at 6 per cent Profit on circulation Total profit on $12,426,000 bonds. $347,188.65. Percentage on maximum circulation obtainable, 2.794 per cent. 9,129. 72 6, 335. 67 2, 794. 05 REPORT OF THE COMPTROLLER OF THE CURRENCY. 161 STATEMENT SHOWING PROFITS UPON CIRCULATING NOTES BASED UPON A DEPOSIT OF $100,000 BONDS, OCTOBER 31, 1894. October 31, 1804—2 percents. $100,000 twos at 95.6750, interest Circulation, 90 per cent on market value Interest on loanable circulation at 6 per cent $2, 000. 00 $86,107. 50 , 5,166. 45 Gross receipts Deduct— 1 per cent tax on circulation Annual cost of redemption Express charges Cost of plates for circulation Agents' fees 7,166. 45 $861. 03 45. 00 3. 00 7. 50 7. 00 023 53 Net receipts 6, 242. 92 $95,675 loaned at 6 per cent 5, 740. 50 Profit on circulation 502.42 Percentage on maximum circulation obtainable, 0.502 per cent. (The profit on these bonds is somewhat greater than this, owing to the fact that the bonds will be redeemed at par, but is indeterminate, owing to the uncertainty of date of redemption.) October 31, 1894—4 per cents. $100,000 fours at 115.1712, interest Circulation, 90 per cent on par value Interest on loanable circulation at 6 per cent $90, 000.00 Gross receipts Deduct— 1 per cent tax on circulation Annual cost of redemption Express charges Cost of plates for circulation Agents' fees Sinking fund reinvested quarterly to liquidate premium $4, 000.00 5, 400. 00 9,400. 00 $900. 00 45. 00 3. 00 7. 50 7. 00 808. 07 Net receipts $Ii5,171.20 loaned at 6 per cent Profit on circulation Percentage on maximum circulation obtainable, 0.719 per cent. 1,770.57 7, 629. 43 6, 910. 27 719. 16 October 31, 1894—5 percents. $100,000 fives at 119.0033, interest Circulation, 90 per cent on par value Interest on loanable circulation at 6 per cent $90, 000.00 Gross receipts Deduct— 1 per cent tax on circulation Annual cost of redemption ExDress charges Cost of plates for circulation Agents7 fees Sinking fund reinvested quarterly to liquidate premium Net receipts $119,003.30 loaned at 6 per cent Profit on circulation Percentage on maximum circulation obtainable, 0.669 per cent. 8182 CUR 11 $5, 000.00 5, 400.00 10,400.00 $900. 00 45. 00 3. 00 7. 50 7. 00 1, 627. 81 2,590.31 7, 809. 69 7,140. 20 G69. 49 162 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING PROFITS UPON CIRCULATING NOTES, ETC.—Continued. October SI, 1S04—C» percent* {scries maturing July 1, ISOS). $100,000 sixes at 107.9945 Circulation, 90 per cent on par value Interest on loanable circulation at 6 per cent $90,000.00 $6,000.00 5, 400. 00 Gross receipts 11, 400. 00 Deduct— 1 per cent tax on circulation $900. 00 Annual cost of redemption 45. 00 Express charges 3. 00 Cost of plates for circulation 7. 50 Agents' fees 7. 00 Sinking fund reinvested semiannually to liquidate- premium. 1, 980. 60 2,943.10 • Net receipts $107,994.50 loaned at 6 per cent 8, 456. 90 6, 479. 67 Profit on circulation Percentage on maximum circulation obtainable, 1.977 per cent. 1, 977. 23 STATEMENT SHOWING QUARTERLY INCREASE OR DECREASE IN NATIONAL-BANK CIRCULATION FROM JANUARY 14, 1875, TO OCTOBER 31, 1894. National bank. _ I Retired. Issued. F r o m J a n . 14 to J a n . 31,1875 F o r quarter ended— A p r . 30, 1875 J u l y 31,1875 Oct. 31,1875. J a n . 31,1876 A p r . 30,1876 J u l y 31,1876 Oct. 31,1876 J a n . 31,1877 A p r . 30,1877 J u l y 31,1877 Oct. 31,1877 J a n . 31,1878 Apr. 30,1878 J u l y 31,1878 OcL 31,1878 J a n . 31,1879 Apr. 30,1879 J u l y 31,1879 Oct. 31,1879 J a n . 31,1880 Apr. 30,1880 J u l y 31, 1880 Oct. 31,1880 J a n . 31, 1881 Apr. 30,1881 J uly 31,1881 Oct. 31,1881 J a n . 31,1882 Apr. 30,1882 J u l y 31,1882 Oct* 31,1882 J a n , 31,1883 A p r . 30, 1883 J uly 31,1883 Oct. 31,1883 J a n . 31,1884 A p r . 30,1884 J u l y 31,1884 Oct. 31.1884 J a n . 31,1885 A p r . 30,1885 $537, 580 : | 1 4, 409, 220 4,124,105 1,915,710 ! 2,504.600 I 877,580 1,107,110 2, 004, 390 3,188, 030 4; 363, 010 3, 000, 230 ; 5,754,160 ! 6, 725, 585 3,036,760 4, 252, 980 2,276,360 3, 097, 060 7,039, 300 3,674,830 9,122, 300 7, 289, 805 3,163, 820 1, 748, 660 1,199, 930 2, 234, 780 12,690,890 0, 569, 410 6, 484, 550 5, 625, 200 2, 991, 400 4. 054, 740 9, 792, 910 4, 588, 850 3. 638. 650 3, 527,100 2, 755, 600 2, 748. 270 2, 052, 294 2, 778, 960 2,792,170 1, 265. 520 2,125. 260 $255, 600 3,336, 5, 423, 5, 553, 3, 852, 5, 425, 9, 663, 8. 564, 4, 759, 5, 005, 4, 984, 3,516, 2, 701, 1, 906, 3,453, 2. 924, 747, 1, 822, 2, 715, 1, 754, 674, 1, 555, 2,427. 1,535, 1,361, 4, 426, 4, 734, 3,182, 3, 354, 4,414, 5, 741, 5,611, 4,927, 6.510, 6, 808, 6, 369, 5,172, 8, 430. 7, 883, 6. 833, 7,812, 8, 135, i ; ] I Increase. Decrease. $281, 980 1,072,416 $1,299,761 3, 638, 261 1,348,131 4, 547, 959 8, 556, 874 5, 960, 333 1, 570, 386 642,586 1, 984,169 2, 237, 839 4, 023, 700 1,130, 039 797, 900 048,070 2, 349, 733 5, 216. 312 959,306 7, 367, 742 •6,615,676 1,608,054 678, 738 335, 830 873, 8, 264, 4, 834, 3, 301, 2, 271, 246 294 832 999 0i7 1, 423, 465 1,686,710 4,181,413 338, 170 2,871,595 3,341.145 3, 613, 673 2, 424, 444 6,378,510 5,105, 037 4,041,704 6, 576, 535 6, 009, 852 REPORT OF THE COMPTROLLER OF THE CURRENCY. 163 STATEMENT SHOWING QUARTERLY INCREASE OR DECREASE IN NATIONAL-BANK CIRCULATION FROM JANUARY 14, 1875, TO OCTOBER 31, 1894—Continued. National bank. Increase, For quar•ter endedJuly 81,1885... Oct. 31,1885... Jan. 31,1886. . . Apr. 30,1886... July 31,1886... Oct. 31,1886... Jan. 31,1887... Apr. 30,1887... July 31, 1887... Oct. 31,1887... Jan. 31,1888... Apr. 30,1888... July 31,1888... Oct. 31,1888... Jan. 31,1889... Apr. 30,1880... July 31,1889... Oct. 31,1889... Jan. 31,1890... Apr. 30,1890... July 31,1890... Oct. 31,1890... Jan. 31,1891... Apr. 30,1891... July 31,1891... Oet" 31,1891... Jan. 31,1892... Apr. 30,1892... July 31,1892... Oct. 31,1892... Jan. 31,1893... Apr. 30,1893... July 31,1893... Oct. 31,1893... Jan. 31,1894... Apr. 30,1894... July 31,1894... Oct. 31,1894... Total Surrendered to this office and retired from Jan. 14, 1875, to Oct. 31, 1894 Grand total. Issued. Retired. $2,160,110 5, 591, 760 7,751,794 4, 700, 384 1, 469. 325 1,566,700 1, 243, 550 2, 9<U. 775 2,9^6,670 4, 021, 350 6,144, 629 7,755,416 6. 188, 531 1, 049, 765 930,445 1,179,165 1, 376, 200 1,783, 920 1, 428, 895 3, 469, 345 2, 481. 990 1,817,525 1, 705, 540 1,397,135 4, 065, 775 8, 230, 000 5, 241, 445 3,217,945 2, 992, 805 2, 271, 669 4, 384, 625 4, 735, 660 8, 523, 700 26, 721, 395 1, 603, 245 3, 650, 970 3, 378, 819 2, 479,186 $5, 731, 0, 758, 5, 581, 8, 397, 8, 425, 6, 468, 9, 580, 11,014, 11,307, 8,421, 12,190, 15, 005, 15,115. 11, 277, 11,031, 11,789, 11,791, 7, 894, 8, 865, 8, 496, 7, 545, 6, 441, 5, 896, 6, 578, 5, 973, 4, 462, 4, 220, 3, 934, 2,824, 2, 439, 2, 426, 2, 267, 1, 612, 1,183, 3, 032, 3, 606, 3, 638, 2, 378, 323, 399, 487 . 451, 971,123 Decrease. $3,571,563 1,166, 394 2,170, 533 3, 696, 779 6, 956,161 4,901,527 8, 337, 423 8,052.282 8, 371, 048 4, 400,179 6, 045, 530 7, 250,163 8, 926, 054 10,228, 003 10,101,053 10, 609, 996 10,415, 438 6,110, 533 7, 436,106 5, 026, 960 5,063,126 4, 626, 650 4,131, 054 '5,181,444 1,907,746 3, 767,150 1,020,938 716, 484 168,001 167, 617 1,958,207 2, 468, 314 6, 911, 403 25, 538, 366 1,429, 396 44, 227 259, 606 100, 504 101, 537, 231 230,108, 867 16,642,923 j 323, 399, 487 i 468,614,046 j 101,537,231 16, 642, 923 246, 751, 790 STATEMENT SHOWING NATIONAL-BANK NOTES ISSUED, KEDEEMED, AND OUTSTANDING, BY DENOMINATIONS AND AMOUNTS, ON OCTOBER 31, IN EACH YEAR FROM 1864 TO 1894, INCLUSIVE. Ones. Year. Twos Issued Redeemed Outstanding. Fives. $26,924,100 26, 924,100 Issued Redeemed Outstanding $2, 020,167 $1,346, 778 2, 020,167 " 1," 346," 778' Issued Redeemed . . Outstanding 7, 699,182 7,680 7, 691. 502 Issued. Redeemed Outstanding Issued Redeemed Outstanding 8, 396, HO 58, 606 8, 337, 573 5,156, 012 11, 700 5,144,312 5, 622, 722 42,356 5, 580, 366 8, 947, 798 272, 997 8, 674, 801 5, 990, 468 156, 016 5, 834,452 Issued Redeemed Outstanding 9, 663, 584 973,427 8, 690,157 Issued Redeemed Outstanding 10, 843,693 2, 752, 688 8, 091, 005 Issued Redeemed Outstandin g 84, 796, 000 104, 820 84, 691,180 Tens. I Twenties. $19,708,260 j $6, 536,920 I 19,708,260 I *"6,'536,"920" 53,493,210 195, 800 53, 297, 410 Fifties. Five hundreds One hundreds. One thousands. Total. Issued during current year. $2,491,300 $2, 903, 400 ! £50, 000 $58,813,980 I $58,813,980 2,491, 300 2, 903, 400 250, 000 " 58," 813,'980'L y.'.Y.'.V.V.'." 10, 349, 700 46, 550 10, 303,150 15, 033, 600 89,500 14, 944,100 205,099,455 j 464,250 ! 204,635,205 : 146, 285,475 6,669,500 I 4.728.000 ' 294,585,214 1,498,255 302,500 j 507,000 s 6,367,000 I 4,221,000 j 293,086,950 : 89,485, 759 3 W 9, 616, 927 O O 111,115,620 153,175 110,962,445 28, 209, 500 26,580 28,182, 920 75, 807, 000 42, 278, 700 225, 390 42, 060 75,581,610 s 42, 236, 640 16,473,700 24,657,500 76,050 ! 172,7011 : 16,397,650 j 24,484,800 | 113,535,300 753, 855 112, 781,445 77,899,270 ! 43,615, 720 510,620 j 198,080 43, 417, 640 17,469,850 I 26,243,600 j 6, 691, 500 ;4, 728, 000 671,500 j 1, 563, 000 432,300 877,000 I 17,037,550 j 25,366,600 I 6, 020, 000 |3,165, 000 115, 738,140 2, 515, 095 113, 223, 045 79,227,620 | 44, 430, 700 1,300,500 i 759,760 77,927,120 43,670,940 17, 775, 450 880, 950 16, 894, 500 26, 766, 600 1, 598, 000 25,168,600 5,446, 500 $4,404, 000 1,000 5, 446, 500 4,403, 000 i i 304, 202,141 5,107,317 299,094,824 6,744,500 I 4, 746, 000 I 310,367,276 909,000 i 1,858,000 ! 10,250,318 ! 5,835,500 ' 2,888,000 ! 300,116,958 ' :?* 6,165,135 I 6,468,392 I 118, 674, 740 ': 81,107, 820 2, 847, 390 497,538 I; 5,146, 030 78, 260, 430 5,970,854 113,528,710 45,490,040 ;, 496,400 43, 993, 640 18, 205, 350 1,502,050 16,703, 300 27,526, 300 i 6, 838, 500 4, 769, 000 ! 318,743,720 2,708,100 ! 1,347,000 2,501,000 ! 19,018,935 5, 491, 500 2,268,000 24,818,200 299, 724, 791 7,256,558 124,376,620 1,437,318 9,035,250 5,819,240 ! 115,341,370 85,118, 950 5, 060, 560 80,058, 390 48, 208, 980 2, 701, 960 45, 507, 020 19,180, 600 2, 501, 050 16, 679, 550 28,667,200 i 6, 980, 000 4,779,000 i 335, 411, 001 4,587,500 ! 2, 096, 000 3, 380, 000 | 33,552,326 ; 24,079,700 ; 4, 884, 000 1,399,000 ! 301, 859, 275 ! 16,067,875 12, 673, 867 5,471,799 7, 202, 068 8,482,434 | 142,195,820 3,114, 890 17, 014, 975 5. 367, 544 125,180, 845 98, 246, 300 9, 689, 570 88, 556, 730 56,132, 040 5,070,520 51,055,520 21, 806, 850 32,365,500 I 7, 326, 500 4,843,000 ! 384, 072. 311 , 4, 277, 250 7. 846,100 i 3, 078, 000 4,028,000 | 59,597,104 17, 529, 600 24,'519, 400 ; 4, 248, 500 815,000 ! 324,475.207 [ 48,660,710 Issued Redeemed Outstanding 14, 297, 360 7, 919, 388 6, 377, 972 9, 565, 256 159, 666, 740 112,534, 520 4,816, 778 29,803, 335 16, 997, 020 4, 748, 478 129, 863, 405 95, 537, 500 64,513, 760 8,777,040 55,736, 720 24, 859, 950 30,779,700 j 7, 810, 500 4,933,000 ' 434, 960, 786 !! 6, 309, 000 11,098,900 ! 3, 933, 500 4,315,000 93,969,961 18, 550, 950 25,680,800 i 3,877, 000 618,000 340, 990, 825 I 50, 888, 475 Issued Redeemed Outstanding 15, 526,189 9,891, 606 5, 634,583 10, 390, 222 174,472. 280 6. 241, 446 45, 709,815 4,148, 776 128, 762,465 125,603,990 25, 730, 700 99,873, 290 72,164,380 13, 061,420 59,102, 960 27,987,100 8,448, 800 19,538, 300 41,661,000 i 8, 233, COO 14,405,700 ! 4,829, 000 27,255,300 | 3,404, 000 5,158,000 ! 481,196,161 ] 4,530,000 I 132,848,487 i 628,000 | 348,347,674 j 46, 235, 375 Issued Redeemed Outstanding 16,550,259 11,143, 600 5, 406, 653 11,078,226 | 196,215,680 7,110,036 65,208,025 3, 968,188 131, 007,655 133, 370, 760 39,127,070 94,243,690 79, 242,180 19,832,160 59,410, 020 33 348,500 11. 577, 800 21, 770, 700 49,250,200 i 8,657, 000 5,250,000 532, 962, 805 19,657,200 ! 5, 838, 000 6 -S83, 000 | 184,176, 899 29,593,000 j 2, 819, 000 • 567, 000 348, 785,906 HI W o 8, 37G, 450 a 51,766,644 O 136, 025,196 [ 18, 048,1 14 0092,126 921 3,9o6,050 12, 0*9, 504 9,233, 246 2,846,258 235, 275, 920 124,633, 860 110,642,060 174,105, 070 76,085,320 98, 019,750 105, 921, 280 40, 489, 280 65, 432, 000 44, 209, 250 19, 051, 850 25,157,400 1876... I s s u e d Redeemed Outstanding 18, 851, 264 15,556. 708 3, 294, 555 12, 614, 896 10, 249, 092 2, 365, 804 258, 917, 640 161, 910, 280 97, 007, 360 200, 086, 520 103, 692,140 96, 394, 380 121, 729,840 57, 444, 920 64, 284, 920 49, 281, 750 25,789,200 23,492, 550 9, 223, 000 5,540, 000 7, 236, 500 D, 047, 000 1, 986, 500 i 493,000 i 71,092,000 | 9,345,500 i 5,549,000 39,578,500 ! 8,108,500 5,272,000 31,513,500 j 1,237,000 277, 000 I 1877.. .| I s s u e d I Redeemed ! Outstanding 20, 618, 024 16 8n5 568 3, 802,456 13,793,930 11, 111, 052 2, 682, 884 284, 084, 240 190, 579, 340 93,504, 900 222,660, 640 124,347, 790 98, 312, 850 135, 525,060 70, 470, 560 65, 054, 500 53,990.050 31, 733, 950 22, 256,100 76, 733, 700 47, 931, 700 28, 802, 000 1878.. . i I s s u e d I Redeemed I Outstanding 22, 480. 415 18 194,196 4, 286, 219 15, 035,. 530 12,0o3, 384 2, 982,1*6 305,956, 440 213, 417,165 92, 539, 275 241,572. 930 138, 591, 490 102, 981, 440 146,883,340 79, 063,560 67,819,780 57, 379, 900 36,411,100 20, 968, 800 81,292,300 54, 185,900 27,106,400 1879... I s s u e d Redeemed Outstanding 23,169, 677 19 600 477 3, 569, 200 15,495, 038 13. 002, 540 2, 492, 498 327, 892, 200 229, 980, 380 97,911,820 259,042, 230 149,305,. 990 109,736, 240 157, 399,020 85,146, 860 72, 252,160 60. 589. 050 85, 0 7 4, 000 39 263,150 58,160, 400 21,325, 900 ' 26,913, 600 10, 270, 000 9, 643, 500 626, 500 6, 350, 000 945,281,215 I 58, 376, 360 6, 057, 000 610, 160, 297! J 293, 000 335,120, 918 Issued Redeemed Outstanding 23,169, 677 20 8^5 215 2, 294, 462 15,495, 038 13,887, 778 1,607,260 345, 659, 880 245,749,120 99,910, 760 2^2, 031, 680 158, 211,100 1x3, 820, 580 165, 327, 960 90, 096,400 75,231,560 62, 694 250 87. 951, 000 41, 274.950 61, 060, 100 21, 4^.9, 300 26, 890, 900 10, 366, 500 9, 742, 000 624, 500 6,3^3,000 i 989,068,985 6, 124, 000 I 047, 020, 663 249,000 ! 342,048,322 43, 787, 770 Issued Redeemed Outstanding 23.169,677 21 838,565 1,331,112 15, 495, 038 14,5"2, 868 922,170 368,062, 520 267, 582,440 100, 480, 080 294, 7^5,190 173,466, 350 121, 308, 840 178, 816,340 98,099,840 80, 716,500 07, 8^9, 700 44, 594, 500 23, 285, 200 95,973,200 | 10, 964, 500 66,020,200 ! 10, 247, 500 29,953,000 ! 717, 000 7,154, 000 1,062,290,165 6, 943, 000 703,365, 263 211,000 358, 924, 902 73, 221 180 Issued Redeemed Outstanding 23,169. 677 15,495, 038 14,968, 280 526, 758 393, 487,120 296, 566,165 96, 920, 955 320,422, 600 197, 709, 340 122, 713, 260 195, 035,680 111,434,140 83, 601, 540 72, 667, 200 103,513,800 49, 009, 100 71, 913, 000 23, 658,100 31, 600, 800 11,378,500 10, 440, 000 938, 500 7,197, 000 1,142, 366, 615 6, 990, 000 781, 383, 902 360, 982, 713 207,000 80, 076,450 Issued Redeemed Outstanding 23,169 677 22, 593, 909 575, 768 15, 495, 038 15,141,806 417, 236, 040 325,712,835 345, 440, 860 227,123, 550 118,317,310 211, 576, 920 128, 492, 760 83, 084,160 77, 801, 450 111,474,200 ! 11,566,500 54, 535,150 78,912,500 j 10, 683, 500 23, 266, 300 32,561,700 ! 883, 000 1884.. I I s s u e d ; Redeemed Outstanding 23,109. 677 22, 671, 93C 497,741 1875.. 1881.. 1882.. 1883.. 1887.. Issued Redeemed R d d Outstanding f ' 815, 800 353, 232 I 91, 523, 205 | 15,495,038 440,505,940 15,206,570 355,196,785 288, 468 85, 309,155 64, 585, 800 29, 942, 800 34, 643, 000 9,906,000 8, 807. 500 1,188, 500 668, 988, 000 325,811,982 343,176,018 747,468,410 ! 78, 480, 410 427,601,340 319, 867, 070 j 5,678,000 I 823,0^9,650 | 75, 611, 240 5. 411, 000 i 507, 208, 460 j 267.000 315.871,190 I 10, 090. 000 6, 214, 000 9, 447, 500 5, 900, 000 642, 500 314,000 886,904,855 I 567,264, 295 ! 319,640,560 j 63, 825, 205 7,379,000 il, 302, 093, 995 I 81,, 046, 310 7,156, 000 ! 969, 641, 051 223, 000 332, 452, 944 i Issued Redeemed Outstanding Issued... Redeemed Outstanding. 23,169,677 I 15,495,038 | 488,336,800 416,959,700 ; 258,912,360 ! 90,759,700 I 134,202,100 11,947,000 22,757,987 ! 15,279,-612 405,546,320 317,672,780 ! 187,957,120 i 72,565,050 j105,533,000 j 11, 569, 000 411,690 i 215,426 82,790,480 99, 286, 920 I 70,955,240 | 18,194,650 ! 28,669,100 378, 000 7, 379, 000 il, 447,101, 375 7,290,000 1,146,170,869 89,000 300,990,506 C2,, 026, 940 Issued Redeemed . . . Outstanding. 23,169, 677 22,776,403 393, 274 7,379,000 1,483,917,475 7, 305, 000 I, 212, 265, 888 74, 000 271, 651, 587 36,, 756,100 15,495,038 15, 293, 440 201, 598 502, 277, 425, 853, 76, 423, 620 955 665 228,841, 820 149, 635, 240 79, 206, 580 427,627,990 [ 266,022,900 ' 92,481,650 !137,516,600 j 11,947, 000 337, 999, 280 !201,838,860 76.807.150 112, 745, 300 j 11, 646, 500 89, 628, 710 | 64,184,040 ! 15,674,500 | 24,771,300 I 300, 500 O F F 7,287,000 I, 221, 047, 085 i 78, 681,070 7.092,000 j 870,288,010; ' 195,000 ' 350,759,675 83, 051, 500 119, 977, 000 ! 11,853,000 60, 828, 650 87,454,300 I 10. 990, 500 22, 222, 850 32,522,700 j 862, 500 I 23, 169, 677 j 15. 495, 038 I 466, 042, 000398, 040, 010 246, 363,460 87,927,650 I 128,7*0,600 11,947,000 22,731,963 I 15/257,754 384,085,330 • 293, 828, 720 171, 275, 940 67,288,100 I 97,192, 200 11, 363, 500 75,087,520 I 20,639,550 ' 31,578,400 437,714 j 237,284 ! 81,956,670 104, 211, 290 583, 500 371, 821, 020 260, 501, 070 111, 319, 950 o o 83.,040, 440 7,379,000 jl, 385,134,435 7,238,000 11,070,261,507 I 141, 000 ; 314,872,928 ' o a STATEMENT SHOWING NATIONAL-BANK NOTES ISSUED, REDEEMED, AND OUTSTANDING, BY DENOMINATIONS AND AMOUNTS, ETC.—Continued. Year. Ones. Twos. Fives. Tens. Twenties. Fifties. One hundreds. Five hundreds. 1888... Issued Redeemed . . . Outstanding . I $23,169,G77 $15,495,038 $520,506,800 $442,223,330 $275,754,140 22, 783, 281 15, 298, 872 453,086,540 364,436,600 j 218,806,920 386, 390 I 196,166 67, 420, 260 77, 786, 730 j 56, 947, 220 $94,893,350 '$142,217,600 j $11,947,000 81,230,400 119,872,000 11,706,500 13, 662, 950 22, 345, 600 240, 500 Issued Redeemed . . . Outstanding . 23,169,077 ! 15,495,038 532, 659, 620 451,361,990 281,804,220 22,794,643 { 15,306,858 476,027, 775 386, 221,110 232, 686, 320 375,034 188,180 56, 631, 845 65,140,880 j 49,117,900 95,997, 250 144,384,000 11,947,000 84, 750, 700 125,601,800 11,737,500 209,500 11, 246, 550 18,782,200 ! Issued Redeemed . Outstanding 23,169, 677 22,800,061 369. 616 Issued. Redeemed . -. Outstanding. 23,169,677 | 15,495,038 561, 426, 260 474.952,880 297,355,680 99,848, 700 22,802,625 | 15, 313, 292 511, 284, 975 421,1^3,990 256,301.380 90, 406, 400 9, 442, 300 367,052 | 181, 746 50,141, 285 53,778,890 \ 41.054,300 ! 23,169,677 | 15, 495, 038 577,190. 300 491,530,600 i308,389,420 102, 085, 550 22, 806, 348 15, 316,106 527, 218, 370 437,176,700 j267,451,740 92, 916, 700 363,329 9,168, 850 178,932 49,971, 980 54, 353, 900 40,937, 680 1889... 1890... 1892... Issued Redeemed . . . Outstanding. 1893 Issued Redeemed . . . Outstanding. 1894... Issued Redeemed... Outstanding. 23,169, 677 22, 810, 808 358,869 15,495, 038 544, 788, 840 461, 240, 000 288, 323,560 97, 468,100 147, 273, 300 11,947,000 15,311,146 494, 306,190 403, 621, 260 244, 251, 900 87. 709, 800 130,537,200 Jl. 764, 000 183.892 5(V 482, 050 57, 618, 7-40 44, 071, GOO ! 9, 758, 300 iti, /3(i, JUU I 1S3, 000 Total. I Issued during ! current year. $7, 379, 000 pi, 533, 585,935 i $49,668,460 7, 320,000 1, 294, 541,113 i 59,000 239, 044,822 i I .7,379,000 I 1,564, 197,795 7,327,000 j 1,362, 453,700 52,000 ! 201, : 7,379,000 7, 333, 000 40,000 744,089 1, 597, 084,515 1.417. 034.557 170, 449,1)58 151,976,100 | 11,947.000 7,379,000 i: 1, 643, 550,335 , 135,172, 500 | 11,779,500 7,337,000 1,471, 571,002 42,000 •' 16,803,600 j 167,500 j 171, 1)78, 073 30,611,860 40,4G5,820 7,379,000 ; 1, 693, 501, G85 7, 345, 000 : 1,521, 404, 704 34,000 172, 036,921 49,051,350 15, 495. 038 605,475, 540 | 519,398, 970 326,900,880 | 105,970,750 163, 949, 500 11,947.000 15,319,508 543,392,670 | 452,919,540 278,070,440 j 95,400,300 143,918.400 j 11, 807, 500 139,500 175,530 j 62,082,870 i 66,479,430 48,830,440 i 10,570,450 20,031,100 : 7, 370, 000 : 1,779, 080, 355 7,346,000 i ], 570, 9*5.1(5(5 33,000 | 208, 701,189 SG. 184, 070 630, 757, 720 539, 903,580 340,460,600 108,420,000 168,740,100 i 11,947,000 I 7,379,000 568,047,950 474,251,610 292,191, 960 98,256, 200 149,084,000 ; 11,817,500 i 7, 348, 000 31,000 129,500 19,656,100 62, 709, 770 65,651,970 48,268, 640 10,163,800 1, 846, 272, 715 | 1, 639, 132,611 I 207, 140,104 ^ O W H O *r* 32,880,720 H S K 156,315,100 ! 11,947,000 139,439,800 I 11,794,000 153,000 16,875,300 : 23,169, 677 I 15,495,038 22,813,727 15,321.664 355,950 173,374 One thousands. O O £ 60, 586, 360 3 [NOTE.—First issue Dec. 21,1863; first redemption Apr. 5,1865.] W ft o d REPORT OF THE COMPTROLLER OF THE CURRENCY. 167 STATEMENT OF NATIONAL GOLD BANK NOTES ISSUED, REDEEMED, AND OUTSTANDING OCTOBER 131, 1894. Fives Tens Twenties Fifties One hundreds Five hundreds One thousands $364, 140 746, 470 722, 580 404, 850 809, 700 342, 500 75. 000 Total Fractions unredeemed i 3, 465. 240 STATEMENT OF NATIONAL-BANK NOTES ISSUED DURING THE YEAR ENDED OCTOBER 31, 1894, WITH THE TOTAL AMOUNT ISSUED, REDEEMED, AND OUTSTANDING. Denominations. Issued Circulai ion Issued pre- j Total issued \ Total redempduring the \ vkms outstanding years, to Oct. 31, 1894. jtionsOct. 31, 1894. Oct. year. 31, 1891. Ones Twos. Fives Ten: Twenties Fifties One hundreds Five hundreds One thousands Total Unpresented fractions . $25, 282,180 20, 504, 610 13, 559, 720 2, 449, 250 4,790,600 ! $23,169,677 15, 495,038 605, 475, 540 519, 398, 970 326, 900, 880 105, 970,750 163, 949, 500 11, 947, 000 7, 379. 000 $23,169, 677 15, 495, 038 630,757,720 539, 903, 580 340, 460, 600 108,420,000 168, 740,100 11, 947. 000 7,379,0C0 66,586,360 1,779,686,355 1, 846, 272. 715 I $22, 813, 727 15, 321, 664 568, 047. 950 474,251,610 292,191,960 98. 256, 200 149, 084, 000 11,817,500 7, 348, 000 $355, 950 173, 374 62, 709, 770 65.651,970 48, 268, 640 10,163, 800 19, 656 100 129, 500 31, 000 1, 639,132, 6J1 —28,204 207,140,104 -i-28, 204 207,168, 308 1,639,104,407 Total. MONTHLY STATEMENT OF ADDITIONAL CIRCULATION ISSUED ON BONDS FOR YEARS ENDED OCTOBER 31. FROM 1883 TO 1894. 1883-'84. | 1884-'85. Month. November . December.. January... February.. March April May June July August September. October $445, 1,177, 1,126, 509, 579, 963. 733. 1,101, 943. 1, 279, 943, 1888-'89. November.. December.. January February .. March April May June July August September . October $244, 765 285,320 400, 300 435,970 345,100 398, 095 505, 890 447,390 422,920 466, 750 673. 055 644,115 Total. 5, 269, 730 363, 360 660, 545 727,889 954,953 340, 990 404, 441 478, 035 500, 780 490,510 527,0"0 571. 230 467, 500 1891-'92. 1889-'9O. 1890-'91. $507, 435 379.255 542,205 951, 840 1,164,000 1. 353, 505 794,120 921,115 766, 755 660,160 625,885 531, 480 ^603, 580 $1, 965, 780 $1, 823, 925 672,180 1,765,320 1,661,460 899, 240 1, 5iO, 335 48G,780 1. 980, 340 391,020 984,090 542, 375 1,217,400 l| 294, 990 463, 740 1,016,455 1,460,330 938,330 424, 740 1,022,180 1 044, 715 1, 264,160 2,149,600 2 596, 320 706, 465 5, 435, 770 4 223,3o0 891,370 15, 609, 975 9, 913, 435 2 138,390 775,210 1,197,985 1 868,260 605,089 9, 197, 755 15 458,450 !S87-'8; $444, 905 $1, 687, 897 366,765 2, 039, 803 431,880 2,416,929 447, 560 1, 889, 790 1, 6*9, 8(J0 2, 855, 663 3, 009, 966 864, 325 2, 910, 246 6^4, 500 1, 657, 890 2,122, 695 1, Io5, 590 604, 280 492, 355 999, 510 251, 020 1,435,0*0 306,390 1, 586, 800 10,371,694 ! 11,142,650 j 15,488,203 ! 11,163,345 Total Month. $208, 580 379, 930 677,010 512,310 548, 330 1, 053, 3^0 403, 790 701,490 1,072,330 1,154,460 1,914,710 2, 516, 340 1886-'87. 1892-93. 13,723, 864 44, 365, 380 21,138, 341 1893-'91. $632, 621 520,107 450, 517 905, 850 1, 556, 990 1,188,130 830, 360 1, 163, 732 1, 384, 727 8(J2, 030 592, 917 994, 239 11,112,220 168 KEPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING, BY DENOMINATIONS, THE AMOUNT OF NATIONAL-BANK NOTES ISSUED AND REDEEMED SINCE THE ORGANIZATION OF THE SYSTEM, AND THE AMOUNT OUTSTANDING OCTOBER 31.1891. Number of notes— Amounts— . . • Denominations. Issued. Ones Twos Fives Tens. Twenties Fifties One hundreds... Five hundreds .. One thousands .. 23,1G9, 677 7, 747, 519 126,151, 544 53, 990. 358 17,023,030 2,108, 400 1, 687, 401 23, 894 7,379 Redeemed. Outstanding. 22, 813, 727 7, 660, 832 113, 609. 590 47, 425,161 14, 609, 598 1, 9-55,124 1, 400, 840 23, 635 7,348 Total 231, 969, 202 209, 605, 855 Unpresented tractions Total . 355, 950 80, 687 12,541, 954 6, 565,197 2, 413, 432 203, 276 196, 561 259 31 Issued. $23,169,677 15, 495, 038 630,757,720 539, 903, 580 340, 460, 600 108, 420, 000 168, 740,100 11,947,000 7, 379, 000 22,363,347 11,846,272,715 Redeemed. Outstanding. $22, 813, 727 15, 321, 664 568, 047, 950 474,251,610 292,191,960 98, 256, 200 149, 084, 000 11,817,500 7, 348, 000 $355, 950 173, 374 62,709, 770 65, 651, 970 48,268, 640 10,163, 800 19, 656,100 129, 500 31, 000 1,639,132,611 ; 207,140,104 —28, 204 ; .1,846,272,715 1,639,104,407 I +28, 204 207,168, 308 VAULT ACCOUNT, SHOWING THE AMOUNT OF CURRENCY RECEIVED AND ISSUED BY THIS BUREAU DURING THE YEAR ENDED OCTOBER 31, 1894. National-hank currency in the vault October 31,1893 $59,108, 900 Amount received from the Bureau.of Engraviug and Printing during the year ended October 31, 1894 68,667,450 Total Amount issued to banks during the year ended October 31, 1894 Amount withdrawn from vault for cancellation Balance in vault at close of business October 31, 1894 $66, 586, 360 1, 265, 630 127, 776, 350 67, 851, 990 59, 924, 360 REPORT OF THE COMPTROLLER OF THE CURRENCY. 169 STATEMENT SHOWING, BY STATES, THE AMOUNT OF " ADDITIONAL CIRCULATION" ISSUED AND RETIRED DURING THE YEAR ENDED OCTOBER 31, 1894, AND TOTAL AMOUNT ISSUED AND RETIRED SINCE JUNE 20. 1874." Circulation issued. States and Territories, Maine New Hampshire Vermont Massachusetts llhode Island Connecticut New York New Jersey Pennsylvania Delaware Maryland District of Columbia . Virginia West Virginia North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee Missouri Ohio Indiana Illinois Michigan AVisconsin Iowa Minnesota Kansas Nebraska Nevada Oregon Colorado Idaho Montana Wyoming North Dakota South Dakota ." Washington California Utah New Mexico Arizona Oklahoma Indian Territory Alaska j Underact I of J u l y 12, Additional. j 1882. ' - $10,110 0, 580 18, 849 21, 560 27, 650 17, 260 40, 515 13, 550 26, 540 28,730 27, 360 $456, 750 32,620 29, 080 1, 310, 545 135, 000 310,500 1,652,944 59, 820 1,883,430 194, 610 10 339, 550 58, 515 33, 790 194, 610 17,270 380, 065 72, 065 60, 330 28.730 140, 070 30, 950 90, 084 90, 084 ! 108,900 5,820 26, 300 34, 930 155, 977 156,641 52, 355 14,420 86, 454 43, 775 16,010 19, 760 12, 050 i 32,090 45, 000 ! Grand total October 31,1894. 1,236, 237 I Under act Insolvent and I of J u n e 20, liquidating i 1874. banks. $23, 260 10, 020 65, 412 1,259,530 215, 730 47, 840 2, 924, 936 80, 062 1,327,530 54, 800 232, 490 30, 970 20, 360 7,630 59,800 340 23, 670 3,050 12, 770 85, 090 440 620, 320 28, 345 67, 020 708, 120 93. 270 562i 233 126, 335 152, 770 198, 055 79.270 65,675 17, 860 84, 347 90, 590 440 729,220 34,165 93, 320 743,050 249,247 718, 874 178, 690 167,190 284, 509 123,045 81,085 37,620 29,649 10, 490 28,755 409,190 164, 280 23,773 101,810 14, 920 19,391 6, 933 15, 605 36, 850 3,360 16,010 47, 282 "89," 935' 10 15, 850 950 405, 000 "26," 520" Total Surrendered to this office and retired From J u n e 20,1874, to October 31,1893 Surrendered and retired same dates Total. $456, 750 22, 510 22, 500 1,310,545 135, 000 310,500 1, 634, 005 38, 260 1,855,780 112, 710 30, 950 84, 347 5,500 Circulation retired. 9,875,983 89,935 j 12,090 j I 10 1 15/850 ! 45, 950 405, 000 26, 520 2,180 4,150 14,170 10,000 11,112,220 ; 7,339,028 i $78,332 109, 266 72,059 58V, 181 115,587 145, 986 455, 263 86, 844 453,253 14, 890 78, 980 2,545 41,427 17, 740 48, 802 15, 541 82, 591 31,293 73, 037 27, 375 62,183 246, 699 15, 060 209, 602 114, 220 156,192 272, 242 143,113 180, 207 201, 607 91,214 45, 359 206,132 155,062 $101,592 119,286 137,471 1,846,711 331,317 193, 826 3, 380,199 166, 906 1, 780, 783 69,690 311,470 33, 515 61, 787 25, 370 108, 602 15, 881 106, 261 31,293 73,037 27, 375 G5, 233 259,469 15, 060 239, 251 124, 710 184, 947 G81, 432 307, 393 203, 980 303, 417 58, 030 113,605 52, 292 221,737 191, 912 52, 360 50. 479 5, 570 83, 757 15, 505 44,070 43, 825 129, 180 116,830 36,022 44,811 60 0,060 52, 360 97, 761 5,570 85, 937 15, 505 44, 070 43, 825 133, 330 131, 000 36,022 51,811 60 6,060 43, 110 5,311,523 1 12,651,151 ! 153, 683 317,030,767 298,897,314 142,072,749 ! 441,570,003 16, 549, 240 . 328,142, 987 306, 236, 942 147, 984, 272 j 470, 924,137 "Notes of gold banks are not included in this table. Total. 170 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT EXHIBITING THE AMOUNT OF NATIONAL-BANK NOTES RECEIVED MONTHLY FOR REDEMPTION BY THE COMPTROLLER OF THE CURRENCY DURING THE YEAR ENDED OCTOBER 31, 1894, AND THE AMOUNT RECEIVED DURING THE SAME PERIOD AT THE REDEMPTION AGENCY OF THE TREASURY, TOGETHER WITH THE TOTAL AMOUNT RECEIVED SINCE THE APPROVAL OF THE ACT OF JUNE 20, 1874.* Received by the Comptroller of the Currency. From the redemption From national b anks in conneK'tion For reducwith rt due- ! For retion of tion of< ireu- placement circulation under act of June 20.1874. Mouths. November, 1893 . December, 1893.. January, 1894 . . . February, 1894.. March, 1894 April, 1894 May, 1894 June, 1894 July, 1894 August, 1894.... September, 1894. October, 1894 $7,140 $5, 352, 30, 000 4. 657, 800 5,190, 7, 140 5, 035, 1,410 5, 522. 19,970 5. 370. 101,220 5. 359, 4, 943, 4, 353, 4. 240 2, 869, 7.160 2, 989, 3, 540, Total I Received from June j 20, 1874, to Oct. 31, 1893 ..| 179 080 Grand total j 55,180,034 $561, 227 422,325 684,170 C75,360 691.355 736, 959 897, 850 736, 038 539. 655 452,135 478, 070 464,485 agency. Insolvent and liquidating national banks. $820, 671 545, 595 492, 494 421, 497 413,087 478, 737 490,251 431,811 401,788 263, 562 291,424 260, 605 7,339,629 • 5,311,522 Total. Received at the United States Treasury redemption agency. $6, 742, 033 5, 654, 985 6, 367. 974 6, 139, 944 6, 628, 505 6, 606,136 6, 849. 286 6,111,071 5, 299. 275 3, 592, 740 3, 758. 504 4, 265, 812 $13, 774, 976 9, 839, 329 13,176, 204 7,422, 351 8,118,107 8, 360, 025 8, 959,113 9, 322, 038 6, 684, 645 6, 599, 917 5, 380, 628 6, 063, 770 68,016,265 104, 301,103 16,985.515 >952, 819, 241 297,072,442 144,314,330 1,411,191,528 I 2,270,257,108 < 17,164, 595 11,008,005,275 3tH, 412, 071 149, 625, 852 jl, 479, 207, 793 *N/otes of gold banks aro not included in this table. 74, 558. 211 REPORT OF THE COMPTROLLER OF THE CURRENCY. 171 STATEMENT SHOWING THE NATIONAL-BANK NOTES RECEIVED AT THIS BUREAU AND DESTROYED YEARLY SINCE THE ESTABLISHMENT OF THE SYSTEM.* Prior to November 1,18G5 During year ended October 31 — 186G 1867 1868 1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 $175, 490 1, 050, 382 3,401,423 4, 602, 825 8, 603, 729 14, 305, 689 24, 344, 047 30,211,720 36, 433,171 49, 939, 741 137,697,696 98, 672, 716 76,918,963 57,381,249 41.101,830 35, 539, 660 54, 941,130 74, 917, 611 During year ended October 31— 1883": 1884 1885 1886 1887 1888 1889 1890 1891 1892..'. 1893 1894 Additional amount of insolvent and liquidating national-bank notes destroyed Total j ! $82, 913,766 1 93,178, 4.8 91.0*8 723 59,989 810 47 726 083 59. 568, 525 ! 52, 207, 627 ! 44, 447, 467 1 45,981,463 i 43,885,319 ! 44, 895, 466 ! 62, 835, 395 | j 160,181, 979 1, 639,100,113 "Notes of gold banks are not included in this table. VAULT ACCOUNT, SHOWING THE AMOUNT OF CURRENCY RECEIVED AND DESTROYED DURING THE YEAR ENDED OCTOBER 31, 1894. There was in the vault of the redemption division of this office, awaiting destruction, at the close of business October 31,1893 $245, 592. 50 Received during the year ended October 31,1894 68, 021, 605.75 Total "Withdrawn and destroyed during the year Balance in vault October 31,1894. 68, 267,198. 25 68,152, 258. 25 114, 940. 00 172 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING AMOUNT OF TAX ON CIRCULATION, COST OF REDEMPTION, ASSESSMENT FOR PLATES, AND EXAMINERS' FEES FOR THE YEAR ENDED JUNE 30, 1894. Semiannual duty on circulation Cost of redemption of notes by the United States Treasurer Assessment for cost of plates, new banks Assessment for cost of plates, extended banks Assessment for examiners' fees (sec. 5240, Revised Statutes) $1, 7^1, 095.18 107, 445.14 4, 050. 00 4, 375. 00 251, 966. 79 Total 2, 088,932.11 STATEMENT SHOWING BY COMPARISON THE AMOUNT OF TAXES ASSESSED AS SEMIANNUAL DUTY ON CIRCULATING NOTES, COST OF REDEMPTION, COST OF PLATES, AND EXAMINERS' FEES FOR THE PAST TWELVE YEARS. Years. 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 Semiannual duty on jirculation. Cost of redemp Assessment' Assessment j tion of notes Assessment for cost of I for examfor cost of I by the plates, iners' fees plates, new United States extended (sec. 5240, banks. Treasurer. banks. U.S.). $3,132, 006. 73 3, 024,668. 24 2, 794,584. 01 2, 592,021.33 2, 044,922. 75 1, 616,127. 53 1, 410,331. 84 1,254, 839. 65 1, 216,104.72 1,331, 287. 26 1, 443,489. 69 1, 721,095.18 Total.... 23, 581, 478. 93 $147, 592. 27 160, 896. 65 181, 857.16 168, 243. 35 138, 967. 00 141,141.48 131,190. 67 107, 843. 39 99, 366. 52 100, 593. 70 103, 032. 96 107, 445.14 $25, 980. 00 18, 845. 00 13,150. 00 14, 810. 00 J8,850.00 14, 100. 00 12, 200. 00 24,175. 00 18, 575. 00 15, 700. 00 14, 225. 00 4, 050. 00 $34,120. 00 1,950. 00 97, 800. 00 24,825. 00 1, 750. 00 3, 900. 00 575. 00 725.00 7, 200. 00 8,100. 00 I 5, 200. 00 ! 4,375.00 1, 588,170. 29 194, 660. 00 190, 520. 00 1, 624,163.46 Total. $94,606.16 $3, 434, 305.16 99, 642. 05 3, 306, 001. 94 107, 781. 73 3,195,172. 90 107, 272. 83 2, 907,172. 51 110,219.88 2, 314, 709. 63 121,777.86 1, 897, 046. 87 130,725.79 1, 685, 023. 30 136, 772. 71 1,524,355.75 138, 969. 39 1,480,215.63 161,983.68 1, 617, 664. 64 162, 444. 59 1,728,392.24 251, 966.79 2, 088, 932.11 27,178, 992. 68 TOTAL AMOUNT OF TAX COLLECTED ON CAPITAL, DEPOSITS, AND CIRCULATION TO JUNE 30, 1894. Prior to the act of March 3, 1883, the hanks were required to pay a tax on capital and deposits in addition to that on circulation. '.I he total tax collected on capital amounted to The total tax collected on deposits amounted to And up to June 30, 1894, on circulation amounted to $7, 855, 887. 74 60, 940, 067.16 75, 834, 997.17 , Total 144, 630, 952. 07 STATEMENT SHOWING THE TOTAL CAPITAL AND BONDS OF NATIONAL BANKS WHICH DO NOT ISSUE CIRCULATION. Capital. Chemical National Bank, New York, N. Y Mechanics' National Bank, New York, N. Y Merchants' National Bank, New York, N . Y National Bank of Washington, D. C National Bank of Cockeysville. Md Chesterto wn National Bank, Md Total ! $300,000 2, 000, 000 2,000, 000 j 200. 000 j 50. 000 i 60, 000 4,010,000 i Bonds. $50, 000 50, 000 50, 000 50, 000 12,500 15, 000 227,500 REPORT OF THE COMPTROLLER OF THE CURRENCY. 173 STATEMENT OF T H E S P E C I E AND BANK-NOTE CIRCULATION OF T H E U N I T E D STATES IN T H E YEARS S P E C I F I E D FROM 1800 TO 1859. [Prepared by Loans and Currency Division, Treasury Department.] Tear. 1800... 1810 1820 .. 1830 .. 1831 . 1832... 1833... 1834... 1835... 1836... 1837... 1838... 1839... 1840... 1841... 1842... 1843... 1844... 1845... 1846... 1847... 1848... 1849... 1850... 1851... 1852 1853 1854... 1855... 1856... 1857... 1858... 1859... Estimated I I bank notes l>ranckes.i° utstandill S$10,500,000 26, 000, 000 44, 800, 000 61,000,000 77,000,000 91, 500, 000 91, 500, 000 94, 839,570 500 103,692,495 704 713 140,301,038 788 149,185, 890 829 116,138, 910 840 135,170, 995 901 106,968,572 784 107, 290, 214 83,734,011 692 58, 563, 608 691 75,167. 646 696 89,608,711 707 707 105,552,427 715 105, 519, 766 751 128, 506, 091 782 114, 743. 415 824 131,366,520 879 155,165,251 171, 673, 000 188,181, 000 1,208 204, 689, 207 1,307 186, 952, 223 1,398 195, 747, 950 1,416 214, 778, 822 1, 422 155,208,344 1,476 193, 306, 818 Estimated specie in United States. Total money Specie in in United Treasury. States. Per Population. jcapita. $17, 500, 000 30, 000, 000 24, 300, 000 32,1C0, 000 32,100, 000 30, 400, U00 30, 650, 000 41,000,000 51, 000, 000 65, 000, 000 73, 000, 000 87, 500, 000 87, 030, 000 83,000,000 80, 000, 000 80.000,000 90, 000, 000 100, 000, 000 96, 000, 000 97, 000, 000 120,000,000 112,000,000 120, 000, 000 154,000, 000 186, 000, 000 204, 000, 000 236, 000, 000 241, 000, 000 250, 000, 000 250, 000, 000 260, 000, 000 260, 000, 000 250, 000. 000 $28, 0C0, 000 58,000 000 69,100, 000 93,100, 000 109,100, 000 121, 900, 000 122,150, 000 135, 839, 570 154, 092, 495 205,301,038 222,185, 890 203, 638, 910 222, l^O, 995 189,968,572 187, 290, 214 163,734,011 148, 563, 608 175,167, 646 185,608,711 202, 552, 427 225,519,760 240, 506, 091 234, 743, 415 285, 366, 526 341,165, 251 375, 673, 000 424,181, 000 445,689,207 436, 952, 223 445, 747, 950 474, 778,822 415, 208, 344 443, 306, 818 5, 308, 483 7,239 881 9 633, 822 12,866,020 13, 221, 000 13,590,000 13,974,000 14, 3^3, 000 14, 786, 000 15, 213, 000 15, 655, 000 16,112,000 16, 584, 000 17, 009, 453 17, 591, 000 18,132,000 18, 694, 000 19, 276, 000 19, 878, 000 | 20, 500, 000 21,143, 000 21, 805, 000 22,489,000 23,191,876 23, 995, 000 24, 802, 000 25, 615, 000 26, 433, 000 27, 256, 000 28, 083, 000 28,916,000 29,753,000 30,596, 000 *•$!, 500, 000 I $2G,500, 000 *3,000,000 | 55, 000 000 *2, 000, 000 G7, 100 000 5, 755, 705! 87, 344,295 6,011,540 ! 93, 085, 460 4,502,914 117, 397, 086 2,011,778 120, 138, 222 11, 702, 905 124, 136,665 8, 892, 858 145, 799, 637 *5,000,000 200, 301,038 *5,000,000 217, 185, 890 *5,000,000 198, 638, 910 2, 466, 962 219, 704, 033 3, 663, 084 186, 305, 488 987, 345 186, 302,869 230, 484 163, 503,527 1,449,472 147, 114,136 7,857,380 167, 310,266 7, 658, 306 177, 950, 405 9,126, 439 193, 425,988 1,701,251 223, 818, 515 8,101, 353 232, 404, 738 2,184, 964 232, 558, 451 6, 604, 544 278, 761, 982 10,911,646 330, 253,605 14, 632,136 361, 040,864 21,942,893 402, 238,107 20,137, 967 425, 551, 240 18,931,976 418, 020, 247 19,901,325 425, 846, 625 17,710,114 457, 068, 708 6, 398, 316 408, 810,028 4, 339, 276 438, 967,542 I '* Specie in Treasury estimated. _ $-1.99 7.60 6.96 6.69 7.04 8.64 8.60 8.64 9.86 13.17 13.87 12.33 13.26 10.91 10.59 9.02 7.87 8.68 8.95 9.43 10.59 10.66 10.34 12.02 13.76 14.63 15.80 16.10 15.34 15.16 15.81 13.78 14.35 174 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT O F T H E C O I N AND P A P E R JUNE C I R C U L A T I O N O F T H E U N I T E D STATES ON HO, FROM 18K0 TO 1894, I N C L U S I V E . [Prepared by Loans and Currency Division, Treasury Department.] Coin in United States, including Year. bullion in Treasury. Paper States. Money Coin, bullion, Circulaand paper Circulation. 'Population. tion per money capita. in Treasury [ 1860... 1861... 1862... 1863... 1864... 1865... 1866... 1867... 1868... 1869... 1870... 187 L... 1872... 1873.... 1874.... 1875... 1876... 1877... 1878... 1879... 1880... 1881... 18S2... 1883... 1884... 1885... 1886... 1887... 1888... 1889... 1890... 1891... 1892... 1893... 1894... $235, 250, 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 25, 52, 65, 102, 357, 494, 647, 703, 769, 81)1, 872, 903, 1, 007. 1, 092; 1,100, 1,152, 1,163, 1,232, 1, 213, 1,252, 000 $207,102, 47' $442,102, 477 :6, 695,225 $435, 407, 252 3, 600, 000 448, 405, 767 j 000!i 202, 005,70' 452, 005, 767 000 333, 452,079 358, 452, 079| 23, 754, 335 334, 697,744' 000' 649, 867,283 674, 867, 283! 79, 473, 245 595, 394, 038: 000 680, 588,00" 705,588, 067 j 35, 946, 589 C69, 641,478 770, 129, 7551 55,426,760 714, 702, 995 100l 745,129, 000! 729, 327,254 754, 327, 254 80,839,0101 GTS, 488, 244i 000 703,200, 612 728, 200,612 66, 208, 543i 601, C92, 069: 000: 691, 553,578 716, 553, 578 36,449,917' 680, 103, 6011 000: 690, 351,180 715,351,180 50, 898,289 064, 452, 891 i 000; 697, 461 722, 868, 46J 47, 655, 667 675, 212, 794! 000! 716, 812,174 741, 812,174 25, 923,169 715, 889, 005: €00 737, 721.565 762, 721, 565 24,412, 016 738, 309, 549 000 749, 445,610 774, 445, 610 22, 563, 801 751, 681, 809| 000 j 781, 024,781 806, 024, 781 29, 941, 750 776, 083, 031| 000 773, 273,509 798,273,509 44,171, 562 754, 101,9471 734! 738, 204.550 790, 683, 284 63, 073, 896 727, 609, 388 50G| 697, 216,341 763, 053, 847 40, 738, 964 722, 314,883 £07! 689, 205,669; 791,253,576 62,120, 942 729, 132,634 178 694, 2o3,363 1,051,521,54] 232, 889, 748 818, 631, 793 884 711, 565,313 1, 205, 929,19: 232, 546, 969 973. 382, 228 682 758, 673,141 1, 406, 541, 82: 292, 303,704 1,114 , 238,119 839; 776, 556,880 I, 480, 531, 719 306,241,300 1,174 , 290, 419| 048; 873, 749,768 1, 643, 489, 816; 413,184,120 L, 230|305, 696: 939i 94)4, 385,250 1,705,454.189! 461, 528, 220 1, 243,, 925, 969: 823 945, 482,513 1,817,658,336' 525, 089, 721 1,292,, 568, 615 304 905,532, 390; 1, 808, 559,09*; 555, 859,169 1,252,, 700, 525: 9011 892, 928, 1,1,000,442,672: 582, 903, 529 1, 317, 539,143 690; 970, 564,259'.2,062,055, 949J 690, 785, 0~9 1, 372,, 170, 870' 434 974,738, 277 2,075,350,711: 691,989,062 1, 3S0, 361,649' 638 991, 754,5212,144,220,159, 714,974,8891,429, 251,270; 05411,032,039, 0212,195,224,075! 697,783,368 1,497, 440, 707| 3311,139,745, 170 2, 3^2, 599, 5011 771,252,314 """ 347,187j 584:1.109, 988,808 2, 323, 402, 392[ 726, 701,147 1, 596,701, 245| 667 1,169,390, 080 2, 421, 461, 747j 759,626,073 1,661 835, 074! 31, 443, 321 32, 064, 000 32, 704, 000 33, 305, 000 34, 046,000 34, 748, 000 35, 469,000 36,211,000 36, 973, 000 37,750, 000 38, 558, 371 39, 555,000 40, 596, 000 41, 677, 000 42, 796, 000 43,951,000 45,137, 000: 46,353,000! ! 47, 598, 000 48,866,000; $14. 06 $13.85 14.09 13.98 10.96 10.23 20.23 17. 84 20.72 19.67 22.16 20.57 21. 27 18.90 20.11 18.28 19.38 18.39 18.95 17.60 18.73| 17.50 18. 75; 18.10 38. 70 18.19 18. 58 18.04 18. 83: 18.13 18.16: 17.16 ; 17. 52 16.12 16. 461 15.58 16. 62: 15.32 21. 52! 16.75 24. 04: 19.41 50, 155,783 27.41! 21.71 51, 316,0001 28.20 22.37 52, 495,000 22.91 53, 693, 000! 30.60 22.65 54,911,000 31. 06 23.02 56,148,000 32. 37 57,404. 000 31. 50j 21.82 22. 45 58, 680; 000 22. 88 59, 974, 000 34.39 22. 52 61, 289,000 33. 86 22. 82 62, 622, 250 34. 24 23.41 63, 975, 000 34.31 24.44 65, 520, 000 36.21 23.85 66, 946, 000 34.70 24.30 68, 397, 000 35. 40 N O T E 1.—Specie p a y m e n t s were s u s p e n d e d from J a n u a r y 1, 1862, to J a n u a r y 1, 1879. D u r i n g t h e g r e a t e r p a r t of t h a t period gold and silver coins w e r e n o t i n circulation e x c e p t on t h e Pacific coast, where, ifc i s estimated, t h e specie circulation was generally a b o u t $25,000,000. T h i s e s t i m a t e d a m o u n t is t h e only coin included in t h e above s t a t e m e n t from 1862 to 1875, inclusive. N O T E 2.—In 1876 subsidiary silver again came into use, and is included in t h i s s t a t e m e n t , begin- ning with that year. NOTE 3.—The coinage of standard silver dollars began in 1878 under the act of February 28, 1878. NOTE 4.—Specie payments were resumed January 1, 1879, and all gold and silver coins, as well as gold and silver bullion in the Treasury, are included in this statement from and after that date. REPORT OF THE COMPTROLLER OF THE CURRENCY. 175 STATEMENT SHOWING THE AMOUNT AND KINDS OF UNITED STATES BONDS HELD TO SECURE CIRCULATING NOTES OF NATIONAL BANKS ON JUNE 30 OF EACH YEAH FROM 1865 TO 1894, AND THE AMOUNT OWNED AND HELD BY THE BANKS FOR OTHER PURPOSES, IN'CLUDIXG THOSE DEPOSITED WITH THE TREASURER TO SECURE PUBLIC DEPOSITS. United States bonds held as security for circulation. Year. 6 per cent bonds. 5 per cent bonds. 1865 . 1866 . 1867 . 1868. 1869 . 1870 . 1871 . 1872 . 1873. 1874. 18^5 . 1876 . 1877. 1878 . 1879 . 1880 . 1881 . $170, 382, 500 241, 083, 500 251,430,400 250, 726, 950 255,190, 350 247,335, 350 220,497,750 173, .251, 450 160, 923, 500 154,370,700 136, 955,100 109,313,450 87, 690, 300 82, 421, 200 56, 042, 800 53, 056,150 61, 901, 800 Continued a t 3i p e r cent. 1882 . "25,142, 600 1883 . 385,700? 4 p e r cent bonds. 4£ per cent ; bonds. 1 $44, 372, 250 48, 448, 650 $19,162,000 35,056,550 118,538,950 37,760,950 120,076^300 32, 600, 500 1)3,637,700 32, 752, 650 rotal. United States bonds held for other purposes at nearest date. $235, 959,100 $155, 785, 750 327,310,350 121, 152, 950 84, 002, 650 340, 607, 500 80, 922, 500 341, 495, 900 55,102. 000 342,851,600 43, 980, 600 342, 278, 550 39, 450, 800 359,885, 550 31, 868, 200 380,440,700 25. 724, 400 390, 410, 550 25,347,100 391,171,200 •26, 9C0, 200 376, 314, 500 45,170, 300 341, 394, 750 47, 315, 050 338, 713, 600 68, 850, 900 349, 546, 400 76,603, 520 354, 254, 600 42, 831, 300 | 361,652,050 63, 849, 950 I 360,488,400 $391, 744, 850 448, 463, 300 424, 610.150 422, 418, 400 397, 953, 000 386. 259,150 399, 336, 350 412,308,900 410,134,150 416. 518. 300 403, 214, 700 386, 565, 050 386, 028. 650 418,397,300 430,858,120 404, 483, 350 424, 338, 350 97, 429, 800 357,812,700 ; 43,122,550 j 400,935,250 39, 408,500 104,954,650 353,029,500 \ 34,004,150 ; 387,123,650 46, 546, 400 111, 6C0, 900 330,649,850 I 31,203,000 1884 - Grand total. 161,852,859 Pacifies: 1885. 3, 520, 000 1886 . 3, 565. 000 1887 . 3,175! 000 1888 . 3,181, 000 1889 . 4, 324, 000 1890. 4, 913, 000 1891 7, 957, 000 117, 901, 300 114,143, 500 115, 842, 650 105,423, 850 101, 387, 550 100, 828, 550 111, 985, T50 1S92. 1893 . 129, 764, 700 163,190,050 142, 141, 700 176, 588, 250 20, 301, 600 183, 491, 650 18, 334, 050 194, 922, 300 158, 837, 950 201,691,750 27, 801,100 229, 492, 850 1804 .. 48, 483, 050 50, 484, 200 67, 743,100 69, 670, 300 42 409, 600 39, 486. 750 22, 565, 950 Continued at 2 per cent. 21,825,350 11, 600, COO 22, 020, 550 12, 426, 000 Loan of 1904,) I 15, 292, 000< 5 per cents. >; 22, 711, 850 4,849,950) 312,145, 200 32,195, 800 275, 974, 800 31, 345, 550 191, 966, 7C0 33,147, 750 178, 312, 650 63, 618,150 148,121, 450 51, 642,100 145, 228, 300 35, 287, 350 142, 508, 900 |30,114,150 344, 341,000 307, 320, 350 224, 814, 450 241,930,8C0 199, 763, 550 180, 515, 650 172, 623, 050 176 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE AMOUNT OF UNITED STATES BONDS HELD TO SECURE CIRCULATING NOTES OF NATIONAL BANKS FOR THE YEARS ENDED OCTOBER 31, FROM 1882 TO 1894, INCLUSIVE, AND EXHIBITING THE CHANGES WHICH OCCURRED IN THE SEVERAL CLASSES OF BONDS. United States bonds held an security for circulation. Year. 1882 1883 1884 1885 188G 1887 1888 1889 1890 1891 1892 1893 1894 dumber of banks. | per cei ier cent bonds. I per cem bonds. onds. bonds. Total. United States bonds held for other purposes at nearest date. Grand total. $$40, 621, 2, 301 $33, 754, 650 $104, 027, 500} 179, 675, | ^ 3 , D2«, 000,$362, 505, 650.$37, 563, 750,'$400, 069, 400 ' * 602, 000 > 2,522 41, 319, 700 106, 164, 850 }201,327, 7005( 3,463, 000 352,877,300 30, 674, 050! i 383,551,350 705, 450 155, 604, 400 3, 469, 000 325, 316, 300 30,419, 600 355, 735, 900 2,671 49, 537, 450 391, 650 138, 920, 650 3, 505, 000 308, 364,550 31, 780. 100 340, 144,650 2,727 49, 547, 250 383,150 69, 038, 050 3, 586, 000 245, 444, 050 32.43L 400 277, 875,450 2,868 57,436,850 144, 500 3, 256, 000| 188, 828, 000 34. 671, 350 223, 499, 350 731, 400 3,061 69, 696,100 413,600 3, 468, OOOj 170,003, 350 60, 715! 050 230, 718, 400 3,151 66,121, 750 049, 00(1 3,319 41, 066,150 4, 553, 000 145, 668,150 48, 501',200 194, 169, 350 402, 200 28,116, 700 3,567 6, 672. 000 140, 190, 900 30, 684 000 170, 874,900 f 199,400 I Continued 3,694 I a t 2 p. ct. >120, 858. 850 10,244,000' 152,950,350j 24,871,950 177, 822, 500 121, 648,10C 133,150 3,788 21,897,850 .ill, 852, 000 164,883,000 20,164, 2501 185, 047, 250 3,796 22,020, 550 141, 700 J12.426, 000 176.588,250 17,576,950 194,165,200 Loan of 3,756 22, 749, 900 155, 932, 450 >, 14, 043,000! 199,706,200 25, 888, 200 225, 594, 400 6,980, 850. "* Three and one-half per cents. REPORT OF THE COMPTROLLER OF THE CURRENCY. 177 STATP:MENT SHOWING THE AMOUNT OF I N T E H E S T - B E A H I N G BONDED DEBT UNITED STATES FROM 1865 to 1894, INCLUSIVE. OF THE Date 6 per cent. 5 per cent. ! Ah per cent.* 4 per cent.t I 6 per cent.}' Total. " I $908, 518, 091 $199,792,100 1, 008, 388, 469 198, 528, 435 1, 421,110, 719 198, 533, 435 1, 841, 521, 800 221, 588, 400 1, 880, 341, 300 221, 589, 300 1, 764, 932, 300 221,589,300 1, 613, 897, 300 274, 236, 450 1,374,883,800 414, 567, 300 1,281,238,650 414, 567, 300 1,213,624,700 510, 628, 050 1,100, 865, 550 607,132, 750 984, 999, 650 711,685, 800 854, 621, 850 703, 266, 650 $140,000,000 738. 019, 000 703, 266, 650 240, 000, 000 310, 932, 500 646, 905, 500 250,000, 000 235, 780, 400 484, 804, 900 250, 000, 000 198, 378, 600 439, 841, 350 250, 000, 000 Continued at Continued at 3 | per cent. J per pe cent. 401, 593, 900 June 30,1882... 58,, 957,150 32,083,600 Funded into 3 per cents, J u n e 30, act J u l y 12, 1882. 304, 204, 350 224, 612,150 J u n e 30, 1884. 194,190, 500 J u n e 30, 1885. 144, 046, 600 June 30, 1886. 19, 716, 500 June 30, 1887. June 30, 1888. June 30, 1889. June 30, 1890. June 30, 1891. $1, 258, 000 $1,109, 568,191 6, 042, 000 1, 212, 958, 904 14, 762, 000 1, 634, 406,154 29, 089, 000 2, 092, 199, 200 58, 638, 320 2.166, 568, 920 64,457,320 2, 050, 978, 920 64, 618, 832 "i52, 752, 582 64, 623, 512 .; 845, 074, 612 , 760, 429, 462 64,623,512 64, 623, 512 , 788, 876, 262 , 64,623,512 ., 772, 621, 812 , 761, 308, 962 64,623,512 I 64, 623, 512 ,761, 512, 012 $98, 850, 000 I 64, 623, 512 , 845, 359,162 679,878,110 ! 64,623,512 1, 952, 339,622 739, 347, 800 64, 623, 512 1,774 616. 612 739, 347, 800 64,623,512 1, 690, 19L 262 J u n e 30, 1892. J u n e 30,1893 . 559,581,250 j 64,623,512 559,604,150 64,623,512 Aug. 31,18G5 . J u n e 30,1806. Juno 30,1867 . J u n e 30,1868. June 30,1869. June 30,1870. J une 30,1871 . J u n e 30,1872 . J u n e 30,1873. June 30,1874. June30,1875. J u n e 30,1876. J u n e 30,1877. June 30,1878. June 30,1879 . June 30,1880 . J u n e 20,1881. (Loan of 1904, ) 5 per cents. 50, 000, 000 50, 000, 000 J u n e CO, 1894 . Oct. 31, 1894 .. 64,623,512 { 1,514,433,912 737, 942, 200 64, 623, 512 j 1, 388, 852, 662 1,276,987,362 1, 246, 533, 862 1,196, 429, 812 1, 072,140, 612 1, 001, 007, 962 880, 357, 862 775, 832, 762 675,058,712 649,569, 202 649, 592,162 699, 606, 412 699, 609, 262 * Funded loau 1891; authorizing act July 14,1870, and January 20,1871; date of maturity, 1891. t Funded loan 1907; authorizing act J u l y 14,1870, and J a n u a r y 20,1871; date of maturity, 1907. ; Pacific railroad bonds; authorizing act J u l y 1,1862, and July 2,1864; date of maturity, 1895 to 1899. The refunding certificates amounting to $58,990 are not included in the table. The public debt reached the maximum August 31,1865, and amounted to $2,844,649,626. The noninterest-bearing obligations amounted to $461,616,311, the interest-bearing debt being $2,383,033,315. 8182 CUR 12 178 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE OPENIXG, HIGHEST, AND LOWEST MARKET PRICES OF UNITED STATES REGISTERED BONDS BY WEEKS DUIUXG THE YEAR ENDED OCTOBER 31, 1894. [Prepared by tho Government. Actuary.] 2 per cents. I Week ! ended— Open.. ! TJigli. ! Low. 1 Open. 1893. NOT. 3 Nov. 10 Nov. 17 Nov. 24 Dee. 1 Dec. i Dec. 15 Deo. 22 Dec. 29 1894. Jan. 5 Jan. 12 Jan. 19 Jan. 26 Feb. 2 ! Feb. 9 Feb. 16 Feb. 23 Mar. 2 Mar. 9 Mar. 16 Mar. 23 Mar. 30 Apr. 6 Apr. 13 Apr. 20 Apr. 27 May 4 May 11 May 18 May 25 June 1 June 8 June 15 June 22 June 29 July 6 July 13 July 20 July 27 Aug. 3 Aug. 10 Aug. 17 Aug. 24 Aug. 31 Sept. 7 Sept. 14 Sept. 21 Sept. 28 Oct. 5 Oct. 12 Oct. 19 Oct. 26 Nov. 2 97 96 95 941 94 95 95 ; 97 96 95 951 95 95 95 2 j 95 i 95 95 I 95 95 | 95 95 95 95 ! 95 95 | 961 96 I 96 i 9614 ! 96 ! 96 96 ! 96 96 ! 96 96 96 96 96 96* 96" 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 97 96 90 96 96 96 96 96 y« 96 96 x 96* 96" 96 96 96 96 9Q 96 96 96 96 96 96 06 96 96 96 96 97 96 111 -112 95 112 -113 94 1124-113 94 113 -113* 94 1121-113* 95 114 -114| 95 951 ; 113-1-114 95 95 95 95 95 95 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 96 97 96 96 96 96 96 96 96 96 112 -113 1121-113 113 -1131 1123-1131 1133-1141 1134-114 113A.-1144, 113|114i 1133-1141 1125-1135 1121-1131 5 per cents. 4 jH'r cents. I High. ! Low. Open. I High. j Low. 1124-113 1121-113 113 -113* 113 -114 1131-114* "'" "'" 112 -113 113 113 -1131 113*-114* 113A-114 1131-114 113^-1141 117§-117f 117f-117| 117g-117f H7g--117i 117f-117§ 1171-118 1173-118J 1181-119 2i- f 1131-113 1131-113 1131-114 114 1U 114 -1141 114J-114*. 113J-1HJ 1131-114 112§-113 1122-1131 1131-1131 113 -113 1121-113 1121-1131 1121-1131 113 -113| 118 -1181 118 -1181 117£-118 1178-117! 1171-1184 118 -1I8£ 118 -1181 117|U8^ 1173-118 117|118 | 8 4 1181-1181 118 -1181 117|118| f-l13£ 113 -1134 113 -113*. a | 1171-117! 118 -1184 1171-118 1171-118 1171-118 1174.-118 1171-118 1171-118 118 -1184 1171-1184 117f-l18^ 1171-1184 117g1175 118 -118 1171-1181 1174-118i 17 I l l -II41 1U -114* 1131-1141 113J-114 1131-114 114 -1141 114 -114| 1191-1191 119 -119* 119 -119* 119J-120" 110 -119* 1191-120" 1191-120 118|-1191 119 -119J | 1181-119 llSl-1194 REPORT OF TPIE COMPTROLLER OF THE CURRENCY. 179 STATEMENT SHOWING THE INVESTMENT VALUE OF UNITED STATES 4|, 4, AND 5 VEH CENT COUPON BONDS FROM 1885 TO 1894, INCLUSIVE" [Prepared by the Government Actuary,] i Date. 1885 : January . April.!.. July October.. 188G: January April July October.. 1887: January . April July October.. January.- April.'... July October... 1889: January .. April..... July October-. 1890: ' January.. April July October... 1891: January .. April..'.-. July October.. 1892: January .. April July October... 1893: January .. April July October... 1894: January.. April July October... 4 | per cent bonds. 4 per cent bonds. Kate of in-j | Kate of inAverage terest real-; Average j terest reaiprice flat. ized by price Hat. ! ized by investors. | investors. 112. 7788 112.4350 112.7525 112.9421 Per cent. \ Ver cent. 2.655 2.488 i 2.365 2.250 121.9086 121. 8028 122. 6462 123.4004 112.7000 112.4759 111.8156 111.9855 2.208 : 2.150 2.149 2.003 { 123.4325 126.2980 126.4975 128.0659 2. GOT 2. 414 2. 420 2.289 110.2775 110.1947 109.1475 108.5553 2.290 2. 019 2.340 2. 339 127. 8325 129.2451 127. 8425 125.7885 2. 320 2.227 2. 284 2.39) 108.2375 107.1025 107.5175 108.4213 2.289 2.478 2.195 1.693 126.1275 124.6400 127.4825 128.1204 2. 341 2.449 2. 231) 2.178 108. 9255 108.1848 107.0048 105.8241 1.254 1.240 i 1.421 ' 1.645 | 127. 2837 129.1902 128.3894 127.1944 2. 208 2.080 2.109 2.160 104. 7885 103. 7500 103. 3825 104.1296 1.856 : 2.151 : 1.966 ! 0.409 125.6178 122.1175 122.3200 123.5602 2. 236 2.435 2.407 2. 309 103.1106 101. 7596 100. 3846 0.424 ! 1.363 ! 5.971 ! 120. 9279 122.0264 117. 3317 116.7546 2. 463 2. 372 2. 676 2. 701 110.6719 116.1575 116. 4557 115.0978 2. 693 2. 715 2. 677 2.766 113. 8250 113.3646 110.5450 111.2356 2.849 2.877 3.079 3.011 113.3389 114. 2800 114.1900 114. 7824 2. 2. 2. 2. . .5 per cent bonds 118.6225 | 2.025 118.7500 2.873 119.7407 2.716 2.726 2. 721 2. 068 2. 611) 821 724 713 642 STATEMENT SHOWING THE NUMBER OF DEPOSITORS IN NATIONAL BANKS ON JULY 18, 1894, CLASSIFIED AS TO AMOUNTS TO THEIR CREDIT ON THAT DATE. ^ States, reserve cities, and I Territories. Maine New Hampshire . Vermont Massachusetts . . . Boston Jtkodo Island Connecticut Division 1. 83 51 49 213 55 59 83 593 New York New York City. Albany Brooklyn New Jersey Pennsylvania Philadelphia Pittsburg ~274~ 49 6 5 100 333 41 Division 2 . 837 Delaware Maryland Baltimore D i s t r i c t of C o l u m b i a . . W a s h i n g t o n City . Virginia "West Virginia Division 3 . . . North Carolina... South Carolina... Georgia Florida Alabama Mississippi Louisiana New Orleans . $1,000 a n d less t h a n $2,000. Total Number number of banks of banks. reporting. 18 40 ; 1 12 ! 37 30 ! Amount. $1,828,053 1,061,823 1, 043, 868 7,650,611 4,411,103 1,529,489 2,799, 744 $4,162, 787 3,737,301 1, 720, 925 33, 089, 998 83, 176, 993 10,443,358 18, 228, 266 20,324, 691 26,815,990 13, 958, 627 481, 225 1,461,694 12,984,299 35,367,001 ?, 065,533 4,118, 532 805 I 18 46 11 i 34 I 576,030 11, 309 29, 892 14,872 1,748 15,178 24,857 16, 390 102,252,901 1,551,105 '"3, 808, 888 3, 938,141 262, 917 2, 367, 703 3, 430.136 2, 016, 338 Total. $10,000 a n d over. Amount. 14,933 154, 559, 628 20, 041, 39.5 303, 708, 879 4, 433, 553 8, 470, 655 12,177, 961 18, 081, 419 70, 454, 050 20,821,287 I Num- I ber. Amount, 21, 960 12,914 15, 325 84,328 27, 862 13,610 34, 006 $14,034, 524 9, 279, 900 7,249,310 75, 578, 988 115,232,831 19, 0(16, ">79 34, 560, 881 210, 005 274, 943, 013 174, 253 65. 429 2,890 8,200 86, 920 250, 430 40, 465 22,981 75, 481,178 378, 416,130 6, 460, 065 14. 628, 057 41, 982, 906 87, 309, 698 100, 501, 989 34,908,013 10, 280, 931 10, 300,188 358, 218 1,158, 956 5, 344, 944 12, 647, 235 4, 762, 918 2, 328, 501 18, 342, 862 50,448, 436 1,187,069 3, 536, 752 11,475,702 21,214,043 18,219,488 7, 639, 693 33,901 | 47,181,891 31,920 I 132,064,045 651,628 739, 688, 036 1,021, 731 2, 341,742 7, 307,826 302, 434 2,578, 047 2, 855,283 l\ 200,381 12, 039 31,726 18, 656 1, 922 16,818 26, 707 17.313 4,288,146 8, 544, 743 25, 942, 995 825, 900 8, 046, 893 10,437, 138 5, 274, 026 7,588 7,089 251 787 3,895 9,272 3,280 1,739 414 1,137 1,566 80 828 962 551 599, 078 1, 530, 940 2. 245, 883 '108, 928 1,141,300 1. 356, 715 741,433 5,538 7,724,277 o o o O o O F tr1 30 ; 114,246 | 17,375,228 166 26 12 29 19 26 11 10 8 9, 227 4,662 9,590 10,073 10,864 3, 770 2,664 7,085 389~ 211 422 489 424 163 180 734 534, 246 287, 353 599,563 649,811 584,283 232, 001 260, 564 984, 715 4,607 17, 607, 444 1,061,814 740, 957 1, 405, 768 1, 374, 388 1, 475, 552 423, 845 567, 485 3, 492, 787 125,181 38 ! 60 : 38 I 63 ! 15 ! 14 ] 197 I 700, 102 1, 098, 171 1, 325, 608 1,004,586 1,561, 640 324, 575 324, 386 5, 867, 699 63, 360, 741 S3 REPORT OF THE COMPTROLLER OF THE CURRENCY. 181 *• * # J O i i C C C O © O i C O t - ^ - ^ l O l ^ t l I 00 I •' i—! Ol CS CO rH < -if5 L- I © CO © L— ^ OJ OI CM OI I— CO | H l O C O N r - i C I ., , -5 CO l > O iO ©5 rH CO CO tO CO L- r f OI •* CO Ci OJ CO Ci J§ © Co"c©"^"rH~Cc"co"co'of^**Co" £ cs a co 10 •** t> © to oo nr-OI«OHriH O" lO" r-T Io'I-H" O h-OCMffl I CM t> O 00 CO IC O O N O O O O IS OffiK ^ ^* •*fflO H © O N X 1> O N 00 f1 I — i ( D5C9nOOM«OM!D(SffllS N^CI Hri Sdn^i m a o o TH I o o: co H N 10 Th i! 10 io o; N IH Ci IO CO n w n r-i I CM CO r-i CO rH r-t « 00 IM O 00 O CO •"# CO rH Ci CO CO 00 H (O I- « CO lO ( -rf< I - n LO I— -* ( M O I > N « H I Ci I i lO •<* L- t- OS t> NOOSOO CM •** o co fb m |>. © ^ O lOffiO> O • * I \ TH © CO "<# O Ci r-^ 1-- OI lO © Ol OI CO CO Ci CO CO r-H Ol I'oOOlOCOOOOIOirHCM© t— tO CO Oi CO t - to CO CO 00 CO Oi CM t CM 11 Tf O © l > OJ CO CO !-l Oi 5 i (M r-l •<* CO CO o ro oo I w o f i ^ m m c•o ro© cs © rH Oi tO CO t> CO CO X t» Of Tf* Of ©" Ci" Tj'~ -H* r*" Ol" Of o f 1^-* o f Co" OI I! 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O 00 lO (N I > H^ ©Oir^I>C001i-H©CM©lOCMt^ in Ol OlrH©rH i n O I CMrHrH^tOJ r H C O C M r H ^ ^ i O LO CO — ' CS O l CM © © CO CS OI —' Ol CO iO CO Ci OI CO OI [ - tO CO OI iHlNOtOO CO CO OI rH r OI CO CM t ^ © rH CO CO rH CM T-l rH S : :J as ft H C5 CO • * to CCCOCOCOCO CO !>• CO CS © rH Ol CO ^ tO COCOCOCOTJ*^-^"^!'*!'* CO t ~ 00 Ci © rH Ol CO M* tO CO t ^ CO ^ H / HJ( H / o ifl IO tf> W lO tO lO LO di OS©rH01CO-Hji lOCOCOCOCOCO ll = «§ tOCCt^OOOl© COCOCOCOCOt— STATEMENT SHOWING THE NUMBER OF DEPOSITORS IN NATIONAL BANKS ON JULY 18, 1894, ETC.—Continued. GO States, reserve cities, and Territories. No. 71 72 73 7-4 Total Number number ; of banks of banks, j reporting. ! Washington ! Wyoming j Oklahoma Indian Territory. Division No. 8 . . . I United States -.. 213 j 3,770 j 199 TJnder $1,000. Number. Amount. ! $1,000 and less than $2,000. Number. 10, 527 3. 238 2,317 1,922 2.137,951 495,176 269, 236 289, 949 56,£94 9,013,990 I 2,586 ! 510 158 58 120 3,050 i 1,724,077 j 293,269,861 j 1)7,439 Amount. 695, 753 217, 552 93,112 160, 742 3, 524, 023 $2,000 and less than $10,000. Number. Amount. 345 I 92 60 | 1,890 ; Total. __ $10,000 and over. Number. Amount. Num • ber. 1,355,660 352, 419 109,727 222,595 83 13 5 4 1,984,116 224,319 129. 373 45, 023 17,465 3, 505 2, 412 2,106 7, 251, 599 320 7, 559, 309 6 1 . G9G I Amount6,173, 480 1,289,406 601,448 718,309 d o PC H 27,351,981 132,526,870 ; 85,086 , 340,873,145 j 22,738 i 874,347,253 ; 1,929,340 j 1,647,017,129 o o Pd O r IT* £3 O REPORT OF THE COMPTROLLER OF THE CURRENCY. 183 TABLE BY STATES, TERRITORIES, AND EESERYE CITIES, EXHIBITING THE NUMBER OF BANKS itf EACH, CAPITAL, BONDS ACTUALLY HELD OX OCTOBER 2, 1894, MINIMUM AMOUNT OF BONDS REQUIRED BY LAW, AND THE EXCESS OF BONDS ON OCTOBER 2, 1894, AND OCTOBER 3, 1893. I States, Territories, and reserve cities. No. of; banks.: Capital. | United States bonds. H e W O c t o b e r 2,1894. Maine New Hampshire Vermont Massachusetts. - . Boston Rhode Island Connecticut Division No. 1 . . . New York New York City . Albany Brooklyn New Jersey Pennsylvania Philadelphia... Pittsburg 83 51 49 213 55 59 83 $11,160,000 G, 080, 000 7, 005. 000 45, 642. 500 52. 35(>; 000 20, 237. 050 22,791,070 593 j 165, 265, G20 j 5 100 i 33. 574, 060 50, 750, 000 1, 550, 000 1, 352, 000 14,658,350 335 41 29 39 61/ 704 565 ooo 11 700 000 273 ; 49 Minimum required. Excess of bonds. October 2, 1894. October^, 18J3. $4, 601, 900 3, 564, 0C0 3, 343, 010 19, 728, 500 8,180. 000 7, 315, 0C0 8, 085, 500 $2,115,000 1, 495, 000 1,476, 250 8, 300, 625 2, 750, 000 2, 427, 500 3,360,000 $2,486,900 2, 069, 000 1, 860, 750 11,427,875 5, 430, 000 4, 887, 500 4. 725,500 $2,116,900 2,181, 501) 1, 986, 250 11, 595, 225 7, 815, 000 5. 283, 750 4, 433, 500 54,817,900 21,924,375 32, 893, 525 35.412. 125 9, 553, 785 12, 818, 000 300, 000 392, 000 2,245,662 6, 735, 574 4, 610, 000 1, 297, COO 9, 699, 460 15, 698, 50O 300,000 392. 000 2, 275,163 6, 600, 010 4, 670,000 1. 801, 500 17, 009. 950 15, 268^ 000 600, 000 642,000 5, 220, 250 15, 530. 000 6, 647, 500 2r 747, 000 Division No. 2 . . 175, 797,114 63, 664, 700 25, 712, 679 37, 952, 021 41, 436, 633 Delaware Maryland Baltimore District of Columbia.. Washington City. Virginia West Virginia 30 2,133, 985 3,811,700 13, 243, 260 252, 000 2, 575. 000 4, 846, 300 3, 061, 000 776, 000 1, 796, 750 1, 645, COO 250, 000 805, 400 1, 961, 750 981,500 455, 200 940, COO 1,100, 000 50, 000 600, 000 540, 425 763, 750 320, 800 856, 750 545, 000 200, 000 205,400 1, 415, 325 217,750 471,000 792, 345 920,000 200,000 305, 400 609, 000 223, 750 166 29,923, 245 8,216,400 4, 455, 375 3,761,025 14 29 19 27 11 10 9 217 8 70 7 49 2, 756, 000 1, 748, 000 3,816,000 1, 485, 000 3, 694, 000 955,000 760, 000 3, 000, 000 22, 380, 000 1. 050, 000 9, 702, 900 3,601,500 8, 775,000 780, 100 474, 750 1,107,000 430, COO 1,108, 500 263, 750 240, 000 900,000 5,156, 150 238, 500 3,541,000 875, 000 1,312,750 664, 000 399, 500 779, 000 371, 250 729, 750 238,750 190, 000 450,000 4, 851, 250 237, 500 2,171,975 350, 000 1, 286, 500 Division No. 3 North Carolina - South Carolina... Georgia Florida Alabama Mississippi Louisiana New Orleans. Texas Arkansas Kentucky Louisville . . . Tennessee Division No. 5 . . . . Iowa Des M o i n e s . . Minnesota St. P a u l Minneapolis . Missouri St. L o u i s . . . . K a n s a s City . St. J o s e p h . . . Kansas Nebraska Lincoln Omaha Division No. i 3, 521, 495 223, 600 75, 250 251, 000 42, 500 366,250 75, 000 50, 000 450, 000 169, 056 1,146,400 55,000 32, 750 63, 723, 400 16, 427, 500 12, 720, 475 3, 707, 025 2, 936, 806 222 13 11 115 196 21 90 6 78 5 27,715,768 8, 400, 000 9, 050, 000 13, 927, 500 17,591,000 20, 900, 000 10, 034, 000 3, 600, 000 7, 545, 000 3,150, 000 10,316,850 3,074,000 1. 290, 000 5,010,050 5, 678, 500 1, 650, 000 3, 338, 000 1, 350, 000 1,991,000 450, 000 0, 087, 942 650, 000 550, 000 3,119, 375 4, 297, 750 1, 050, 000 2,133, 500 300,000 1, 792, 500 250, 000 4, 228, 908 2, 424, 000 740, 000 1, 890, 675 1,380,750 600, 000 1, 204. 500 1,050,000 198, 500 200, 0C0 4, 095, 975 3, 525, COO 915, 000 1,990,303 1,415,887 15'J, 000 1,522,000 1,050,000 207, 920 200, 000 757 121, 913, 268 34,148, 400 20, 231, 067 13, 917, 333 15, 072, 082 165 4 66 5 8 50 9 9 3 126 114 4 9 13, 055, 000 800, 000 6, 030, 000 3, 800, 000 5, 700, 000 3, 790, 000 9, 700, 000 4, 800, 000 1,600,000 10,427,100 7, 423,100 1, 000, 000 4,150, 000 3, 596, 750 277,000 1, 367, 800 252, 000 400, 000 1,014,050 452, 000 450, 000 200, 000 2, 705, 500 1, 900, 850 175,000 730, 000 3,101,250 175,000 1, 276, 250 250, 000 400, 000 947, 500 450, 000 450,000 150, 000 2, 331, 775 1, 855, 775 175, 000 450, 000 495,500 102, 000 91, 550 2, 000 385,000 25, 000 79,533 50, 000 66 550 2,000 51,050 50, 000 373, 725 45, 075 50. 000 282, 225 94. 208 572 72, 275, 200 13,520,950 | Division No. 4 . Ohio Cincinnati.. Cleveland... Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee . 116,100 75, 250 328, 000 58, 750 378,750 25, 000 50, 000 450, 000 304, 900 1,000 , 369, 025 525, 000 25, 250 12,012,550 280, COD 1, 5Q8, 400 330,000 1.350,016 184 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE BY STATES, TERRITORIES, AND RESERVE CITIES, EXHIBITING THE NUMBER OF BANKS IN EACH, CAPITAL, ETC.—Continued. United States bonds. States, Territories, and No. of 1j hanks. reserve cities. Colorado Nevada California , San Francisco Oregon Arizona 2 32 j 35 | 5 i Division No. 7 North Dakota South Dakota Idaho Montana New Mexico Utah Washington Wyoming Oklahoma , Indian Territory Division No. 8 United States Capital. $7, 537, 282, 5. 275. 2, 500, 3, 620, 400, 000 000 000 000 000 000 $1, 534, 70, 1, 256, 100, G69, 100, Excess of bonds. October 2, 1894. October 3, 1893. 250 500 250 000 800 500 $1,159, 250 70, 500 1, 006, 250 100, 000 6G7. 500 100J 000 $375,000 j $324,000 "25O,'6o6"f 237,'500 2.300 I 500 2,300 500 124 I 19, G14, 000 3, 731, 300 3,103,500 627,800 J 564, 300 32 35 12 27 5697000" 598, 250 193,750 839, 350 252, 500 762, 50O ],445,0p0 290, 000 75, 000 90, 000 547, 500 546. 250 193, 750 812. 500 175^ 000 350, 000 1, 432, 500 290,000 75, 000 90, 000 7 15,250 61, 750 11 59 12 G G 2, 190, COO 25 185,000 775,000 4 400, 000 700, 000 2 100, 000 6 180,000 1, 1G0. 000 300| 000 360, 000 52, 20, 77, 412. 12! 209 | 20, 350, 0C0 I 5,115, 350 ( 4. 512, 500 602,850 177,350 199,642,500 , 104,672,521 91,900,979 100, 470; 807 3,755 i 008,861,847 I Held October . Minimum | 2,1894. j required. 000 850 500 500 500 G, 850 77, 500 12, 500 500 REPOET OF THE COMPTROLLER OF THE CURRENCY. 185 TABLE, BY STATES, TERRITORIES, AND RESERVE CITIES, EXHIBITING THE NUMBER OF BANKS IN EACH, WITH CAPITAL OF $150,000 AND UNDER, FOR THE YEARS 1893 AND 1894, AND THE INCREASE OR DECREASE IN BANKS AND CAPITAL DURING THE INTERVAL. States, Territories, and reserve cities. • October 3,1893. October 2,1894. No. No. 68 43 37 103 Capital. as Capital. No. | 44 38 104 $5, 460, 000 4. 580, 000 3, 705, 000 11,402,500 23 34 2. 550, 000 3, 648, 000 23 33 2, 510. 000 3, 440, COO 308 31, 111, 100 310 31, 097, 500 222 19,524,960 221 19, 424, GGO G3 2G3 1 1 5,848,350 22, 033, 960 150, 000 100,000 70 272 1 5, 898, 350 22, 577, 704 150, 000 1 9 50. 000 543, 744 556 47, 657, 270 564 48, 050, 714 10 593,744 Dcln.wo.ro 14 43 1, 020. 800 3, 072, 620 14 43 1 020 800 3,160, COO District of Colunifaiti Washington Virginia West Virginia 1 27 26 100,000 2,141,000 2,155, 000 1 28 25 100,000 2 191, 000 2, 055, 000 1 I Division No. 3 111 8, 489, 420 111 8, 526, 800 1 137.3.S0 19 11 20 17 22 12 10 1, 576, 030 998, COO 1,616, 000 1, 300, 000 1, 669, 000 1, 055, 000 010, 000 21 11 23 19 20 11 9 1,656, GOO 998, 000 1 916,000 1,485,000 1, 519,000 955, 000 501), 000 " 2 80, 000 3 300 000 185, 000 197 7 49 15, 046 175 600, 000 4, 636, 400 194 6 50 14 805 000 530, 000 4, 687, 900 1$oston - -- Connecticut Division No. 1 New York New York City .Albany "Hvookl vn Pennsylvania Philadelphia Pittsburg Division No. 2 North Carolina South Carolina Georgia Florida Alabama M^ississinni Louisiana New Orleans Toxis .Arkansas Louisville Tennessee -- -- Divisio" No. 4 Ohio Cincinnati Cleveland Indiana Illinois (T Chica o M^ichi^an Detroit Wiscon sin Milwaukee 520, 430, 635, 327, Decrease. Increase. No. GOO 000 000 500 Vermont $5, 4, 3, 11. Capital. 1 1 1 3 "Capital. $Q0, 600 $150, 000 70, 000 75, 000 295, 000 1 40, 000 208, 000 1 308, GOO 1 100 300 1 100,000 1 200, 300 1 100, 000 1 100.000 2 1 1 150. 000 100,000 50, COO ,, 241 175 50, 000 87 380 50, (J00 1 51, 500 40 2, 925, 000 37 404 32, 031, 575 401 31,881,900 7 616, 500 171 14, 531, 103 175 14, 951, 7G8 4 420 668 94 171 8,127, 000 12, 920, 450 93 176 8, 077, 500 13,191,000 5 270, 550 83 6, 884, 000 81 G, 734, 000 69 5, 269, 319 GO 5, 370, 000 588 47,731,809 594 48, 324, 268 9 791,899 153 2 58 10,150, 000 200, 000 3, 705, 070 155 1 59 10, 405, 000 100, COO 3, 705, 000 2 j. 255,000 53 3, 765, 000 48 3, 390, 000 129 120 100,000 8, 997, 100 7, 593,170 1 121 113 2, 750, 000 1 3 175, 000 11 766,175 1 49. 500 2 150, COO 3 199, 500 1 100. 000 70 5 375,000 8 7 G70, 000 370, 070 - Division No. 5 Iowa Des M^oines Minnesota St Paul Minneapolis Missouri Kansas Citv St. Joseph Kansas Nebraska Omaha Lincoln Division No. 6 100,000 8, 327,100 7, 223,100 . . 1 100,000 1 100, COO 51.7 34, 610, 340 499 33, 350, 2C0 TOO GS1 1 ;;. .. 3 °55 00;) 21 1,515,140 186 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE, BY STATES, TERRITORIES, AND RESERVE CITIES, EXHIBITING THE NUMBER or BANKS IN EACH, WITH CAPITAL OF $150,000 AND UNDER, ETC.—Continued. States, Territories, and reserve cities. • Colorado Nevada California S?n .Francisco Ore°"on Arizona October 2,1894. No. Capital. 1 23 $ 9 437 000 82, 000 2,225, 000 2 095 000 400,000 31 5 1 870 000 400, 000 1)9 7,127, 000 97 7,014, 000 31 38 13 18 10 G 2, 015, 000 2, 310. 000 825,000 I,475,000 750, 000 G50, 000 3,120, 000 810,000 300,000 360, 000 31 34 12 18 9 7 47 10 6 6 1,990, 000 1, 985, 000 775, 000 1, 450,000 700, 000 GOO,000 3 330 000 760, 000 300,000 360, 000 18G 12. 015, 000 180 '545 Division No. 7 Idaho IVlontana New jyLcxico Utah (r 45 11 . ~W ash in ton "WVOTD in °" Oklahoma Indian Territory Division No. 8 Capital. 82,000 2, 075, 000 $° 475 000 1 North Dakota United States October 3,1893. No. Increase. No. Capital. Decrease. No. Capital. $38 000 1 1 $150, 000 150,000 3 C)i> 3 263, 000 1 1 25, 000 325, 000 50 000 25, 000 50,000 §0, 000 1 50, 000 4 1 2 5 000 210, 000 12, 250, 000 2 210,000 8 575, COO . . . . 2, 769 221, 373, 574 2, 756 220,495, 382 36 3, 049, 523 49 3,927,715 REPORT OF THE COMPTROLLER OF THE CURRENCY. 187 TABLE, BY STATES, TERRITORIES, AND RESERVE CITIES, EXHIBITING THE NUMBER or BANKS IN EACH, WITH CAPITAL EXCEEDING $150,000, FOR THE YEARS 1893 AND 1894, AND THE INCREASE OR DECREASE IN BANKS AND CAPITAL DURING THE INTER VAL. Decrease. October 3, 1893. October 2,1894. Increase. States, Territories, and rei No. Capital. I No. I Capital, j No. Capital. I No. j Capital. serve cities. 15 8 11 111 55 36 50 Maine New H a m p s h i r e . Vermont Massachusetts.. Boston Rhode Island Connecticut $5,700,000 1, 700, 000 3, 350, 000 34.790, 000 53, 350,000 17,727,050 19, 351, 370 Division No. 1 sw York New York City. Albany 50J, 000 New Jersey Pennsylvania Philadelphia. Pittsburg Division No. 2 200, 000 ! Delaware Maryland Baltimore District of Columbia. Washington City Virginia West Virginia... Detroit Wisconsin Milwaukee . Division No. 5 Iowa Des Moines.. Minnesota Minneapolis . St. Paul Missouri St. Louis Kansas City . St. Joseph . . . Kansas Nebraska Lincoln Omaha Division Xo. 6 1 160, 000 | 700, 000 ; i Division No. 3 Division No. 4 $160,000 i j North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville .. Tennessee Ohio Cincinnati. Cleveland.. Indiana Illinois Chicago.... 1 1 j 200 000 1 i 200, 000 |. i 1 250, C00 1, 925, 000 200, 000 3,125, 000 8, 550, 000 500, 000 5, 425, 000 4, 401, 500 6, 475, 000 102 | 34,601,500 2,175, 000 1 9 23 2 20 7 12 \v 12 2 3, 850. 000 500, 000 2, 375, 000 5, 450, 000 2, 800, 000 850, 000 10, 700, 000 5, 550, 000 1, 900, 000 2. 650, 000 2C0, 000 900, 000 4,150,000 250,000 125,000 975, 000 410,000 800, 000 450, 000 95 i 31,841,500 | 12, 904, 000 9,100. 000 9, 050, 000 21 5, 650, 000 4, 375. 000 20 20, 000 21 3, 900. 350, 000 9 4. 400, ' 8 1, 750, 000 000 7 2, 300, 000 5 162 I 73, 839, COO 163 47 ! 1 200,000 I. 3,000,000 I. 7, 575, 000 '. 500, 000 !. 5,015.000 j . 3,601,500 !. 6,025,000 j . 76 i 41,875,000 I 73 | 38,925,000 j 200, 000 700, 000 200,000 25,000 50,000 800, 000 425,000 850,000 1,500,000 73, 589, COO | 2. 650. 000 '700, 000 2, 325, 000 5, 700, 000 ! 3, 800, 000 I 400, 000 ! 9.700,000 ! 4, 800, 000 | 1,500,000 I 2,100, 000 200, 000 900, 000 ; 4,150, 000 I 3, 010, 000 250,000 12, 764. 000 j 8,400,000 9, 050, 000 I 5, 850, 000 ! 4, 400, 000 ! 20, 900, 000 3,300,000 3, 600, 000 2,175, 000 ; 2 j 3,150,000 I 1, 750, 000 1, 200, 000 200, 000 50, 000 250," 6b6" 1,000,000 1 i. ii 4 ! 1,450,000 450, 000 1, 000, 000 750, 000 400, 000 550, COO 7 . 4,400,000 188 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE, BY STATES, TERRITORIES, AND RESERVE CITIES, EXHIBITING THE NUMBER. OF BANKS IN EACH, WITH CAPITAL EXCEEDING $150;000, ETC.—Continued. States, Territories, and reserve cities. Colorado NeATada California San Francisco Oregon .Arizona No. Division No. 7 New Mexico Utah VV yomin 0 " Oklahoma Indian Territory 3, 1893. No. Capital. Decrease. No. Capital. 3 $1,200,000 2 500, 000 $6, 300, 000 200, 000 3, 550, 000 2, 500, 000 1, 700, 000 11 1 9 2 4 $5,100, 000 200, 000 3,050,000 2, 500, 000 1, 750, 000 $50, 000 1 33 14, 250, 000 27 12, 600, 000 50, 000 6 1,700,000 1 200,000 200, 000 1 200,000 200, 000 4 1, 300, 000 9 2, 950, 000 f> 12 2 2,150, 000 2. 900. 000 400, 000 12 2 1, 500, 000 2, 853, 000 400, 000 2 650, 000 50, 000 29 8,100, 000 5 ' 1,650,000 999 448, 3GG, 465 15 ! 5 ofi0. 000 2G . . Capital. 11 2 5 V Division No. 8 Increase. October 2,1894. No. Capital. 14 North Dakota South Dakota U n i t e d States October 1,012 5 1,050,000 I 7,150, 000 457,1G6J65 2 28~ 700, 000 14, 060, 300 REPORT OF THE COMPTROLLER OP THE CURRENCY. 189 COMPARATIVE STATEMENT OF THE RESOURCES AND LIABILITIES OF THE NATIONAL BANKS FROM 1864 TO 1894, INCLUSIVE. RESOURCES. Loans Bonds for circulation Other United States bonds Stocks, bonds, etc Due from banks Real estate Specie Legal-tender notes National-bank notes Clearing-bouse exchanges U. S. certificates of deposit Due from 17. S. Treasurer. Other resources Total . Millions, [Millions, Millions. 108.1 34.0 2.2 44.8 4.7 427. 7 107. 3 14.7 18.1 190.0 16.2 72.3 $603. 3 331.8 95.0 15.9 122.9 17.1 9.2 202. 8 17.4 103.7 $609. 7 338.6 80.3 21.5 103.6 20.6 12.8 157.4 11.8 134.6 26.3 ! 297.1 $657.7 340.5 74.1 20.7 110.1 22.7 13.1 156.1 11.8 143. 2 $682. 9 339. 5 44.6 22- 2 KM)! 8 25. 2 23.0 129.6 j $715.9 i 340.9 ! 37.7 | 23.6 109.4 27. 5 18.5 I 122 7 10.8 I 12.5 108.8 j 79.1 9.0 1,359.8 | 1,527.0 1,499.5 i 1,559.6 22. 9 , $831.6 364.5 45.8 24. 5 143.2 30.1 13.2 107.0 14.3 115.2 41.2 1,497.2 I 1,510.7 j l,730.G LIABILITIES. Capital stock Surplu s fund Undivided profits Circulation outstanding . . . Due to depositors Due to banks Other liabilities Total . RESOURCES. Loans Bonds for circulation Other United States bonds Stocks, bonds, etc Due from banks Real estate Specie Legal-tender notes National-bank notes Clearing-house exchanges . U. S. certificates of deposit. Due from U. S. Treasurer.. Other resources Total 2.0 6.0 45.2 122.2 34.9 297.1 393. 2 38. 7 32. 4 171. 3 549. 1 174. 2 9 415. 5 53.3 32. 0 290. 0 598.0 137. 5 1 420.1 66.7 33.8 297.9 568.2 112.8 420. 6 78.0 36.1 298.7 603.1 123.1 426.4 I 86.2 i 40.7 I 296. 0 | 523.0 118.9 6.0 I 430.4 94.1 38.6 293.9 512.8 130.0 10.9 458.3 101.1 42.0 317.4 G31.4 171.9 8.5 1,359.8 j 1,527.0 \ 1,499.5 | 1,559.6 i 1,497.2 ! 1,510.7 I 1,730.6 Oct. 3, 1872. Sept. 12, Oct. 2, 1873. ' 1874. Oct. 2, 1876. Oct. 1, 1877. Oct.], I Oct. 2, 1878. 1879. 1,919 banks. 1,976 banks. 2,089 banks. 2,080 banks. 2,053 j 2,048 banks, j banks. 2,004 banks. Millions, Millions. Millions .[Millions .[Millions .{Millions .Millions.' Millions. $877. 2 $944. 2 $954. 4 $984. 7 $931.3 $891.9 | $834. 0 $878.5 382.0 337. 2 288. 3 383. 3 370. 3 336.8 347.6 357. 3 27.6 47.8 23.6 71.2 28.0 28.1 45.0 94.7 23.5 34.4 23.7 39.7 27.8 33.5 34.5 36.9 128.2 146.9 167.3 149.5 134.8 144.7 129.9 138. 9 32.3 43.1 34.7 47.8 38.1 42.4 45.2 46.7 10.2 21.4 19.9 21.2 8.1 22.7 30.7 42. 2 102.1 92.4 84.2 66.9 64.4 69.2 80.0 76.5 15.8 16.1 15.9 18.5 18.5 15.6 16.9 16.7 125.0 100.0 100.3 109.7 87.9 74.5 82.4 113.0 29.2 6.7 20.6 48.8 33.4 32.7 26.8 42.8 16.7 20.3 19.6 16.0 16.5 17.0 *25.*2' 19.1 17.3 18.3 19.1 28.7 24.9 22.1 1, 755. 8 1, 830. 6 479. 6 110. 3 46. 6 335. 1 . 628.9 143. 8 11. 5 491.0 120.3 54.5 340.3 640.0 173.0 11.5 1, 877. 2 1,882.2 1,767.3 1,868.8 466. 2 116.9 40.9 301.9 668.4 165.1 7.9 454.1 114.8 40.3 313.8 736.9 201.2 6.7 LIABILITIES. Capital stock Surplus fund Undivided profits Circulation outstanding Due to depositors Due to banks Other liabilities Total 493.8 129. 0 51.5 334.2 683.8 175.8 9.1 1,755.8 ! 1,830.6 | 1,877.2 504.8 134.4 53.0 319.1 679.4 179.7 11.8 1,882.2 I 1,827.2 j 1,741.1 ] 1,767.3 i 1,8G8.£ 190 REPORT OF THE COMPTROLLER OF THE CURRENCY. COMPARATIVE STATEMENT OF THE RESOURCES AND LIABILITIES OP THE NATIONAL BANKS FROM 1864 TO 1894, INCLUSIVE—Continued. Oct. 1 1880. Oct. 3, I Oct. 2, | Sept. 30, Oct. 1 1882. ! 1883. 1884. 1885. Oct. 1, .1881. 2,090 | 2,132 banks. ! banks. 3,049 banks. RESOURCES. ! ! I Millions. Millions. Loans $1,041.0 $1,173.8 Bonds for circulation 357. 8 j 363. 3 Other United States bonds. 43. 6 | 56. 5 Stocks, bonds, etc 48.9! 61.9 Due from banks 213.5 ! 230.8 Kealestate 48.0 ! 47.3 Specie 109.3 1 114.3 Legal-tender notes 56.6 j 53.2 National-banknotes 18.2 j 17.7 Clearing-house exchanges. 121. 1 I 189.2 U. £. certificates of deposit-j 7. 7 | 6.7 Due from U. S. Treasurer . . ; 17.1 I 17. 5 Other resources • 23. 0 \ 26. 2 Total \Millions. Millions J Millions .'> Millions. $1,245.3 $1,306.1 $1,451.0 I $1,587.5 327.4 j 307.7 258.5 189.1 31.8 30.4 32.4 34.7 77.5 71.4 81. 8 235.3 194.2 241.4 256.3 51.3 49.9 j 54.1 58.0 174.9 128.6 | 156.4 165.1 69.7 77.0 i 62.8 73.7 23.1 23.3 I 22.7 21.9 84.9 66.3 ! 95.9 88.8 18.8 14.2 5.9 6.2 17.7 14.0 14.9 9.3 33.8 37.4 I 36.9 40.8 I 2,105.8 i 2,368.4 j 2,399.8 ' 2,372.7 I 2,279.5 2, 432. 9 2, 513. 9 j 2, 620. 2 LIABILITIES. Capitalstock Surplus fund Undivided profits Circulation o u t s t a n d i n g . . . Dne to depositors ! D u e t o banks I Other liabilities Total 457.6 463.8; 483.1; 509.7 120.5 128.1 j 132.0 j 142.0 46.1 j 56.4 J 61. 2 j 61.6 317.3 1 320.2 | 315.0! 310.5 887.9 1,083.1 I 1,134.9 j 1,063.6 267.9 294.9 259.9 270.4 8.5 11.9 13.7 ! 14.9 12,105.8 2, 358. 4 ; 2, 399. 8 2,372.7 524. 147. 63. 289. 993. 246. 15. 3 b 2 g 0 4 8 2, 279. 527.5 146.6 59,3 269.0 116.7 299.7 14.1 548.5 157, 3 66.5 228.8 1,189.5 308.6 14. 9 578.5 173. 9 71.5 167.3 1,274.7 329. 6 24.7 2,432.9 j 2,513.9 2, 620. 2 Oct. 4, | Sept. 30, | Oct. 2, Sept. 25,! Sept. 30, 1891. 1892. | 1888. i 1889. I 1890. 3,140 3,290 banks. | banks. RESOURCES. Loans . -Bonds - for " circulation - Other United States bonds.. Stocks, bonds, etc Due from banks Real estate Specie Legal-tender notes National-bank notes Clearing house exchanges - U. S» certificates of deposit. Due from IT. S. Treasurer .. Other resources Total j 3,540 ! 3,677 banks. banks. Oct. 3, 1893. 3,773 J 3,781 banks, j banks. Oct. 2, 1894. ; 3,755 banks. I \Millions.. Pillions. Millions. Millions. Millions. Millions. Millions. $1, 684. 2 \i 1,817.3 $1, 986.1 $2, 005. 5 $2,171. 0 $1, 843. 6 $2,007.1 206.4 163.3 150.0 199.6 146.5 140.0 171.9 17.6 48.5 24.9 20,2 25.9 30.7 60.7 148. 6 125.2 193.3 154.5 109.3 115. 5 99.8 277.5 336. 2 338.7 399.3 409.5 335. 4 294.0 89.2 83.3 97.9 69.4 76.8 87.9 62. 0 224.7 183.5 237. 3 209.1 164.3 195.9 178.1 114.7 97.6 120.5 80.6 86.8 104.3 81.1 22.4 20.0 18.6 20.9 18.5 19.6 21.6 106.2 122.0 83.5 136.8 106.8 105.5 102.4 7.0 15.7 45.1 12.9 8.9 6.2 14.0 10.2 8.0 9.6 8.5 7.4 6.9 8.2 41.4 38.7 31.2 41.9 43.0 42.8 41.3 2,815.7 2, 998. 3 3 141.5 3, 213.1 ! 3, 510. 1 | 3,109. 5 3, 473,9 592.6 185.5 77.4 151.8 1.406.5 375.6 26.3 612. 6 197. 4 84.9 128.5 1, 522. 0 425.3 27.6 650.4 213. 6 97.0 123. 0 1 594.2 426.4 36.9 677.4 227.6 103.3 131.3 1,608.6 430.6 34.3 686. 6 238.9 101. 6 143. 4 1, 779. 3 530. 7 29. 6 678.5 246.8 103. 5 183. 0 1, 465. 4 349.3 83.0 668.9 245.2 83.9 172. 3 1,742.1 52tf. 9 2, 998. 3 "3" 141.5 3,213.1 3, 510. 1 3,109. 5 3. 473. 9 LIABILITIES. Capital stock Surplus fund Undivided profits . Circulation Due to depositors . Due to banks Other liabilities ... Total ! 2, 815. 7 REPORT OF THE COMPTROLLER OF THE CURRENCY. 191 STATEMENT PRESENTING AN ABSTRACT OF THE RESOURCES AND LIABILITIES OF THE NATIONAL BANKS AT CLOSE OF BUSINESS OCTOBER 2, 1894; THE CONDITION OF BANKS IN NEW YORK CITY, IN THE THREE CENTRAL RESERVE CITIES, IN OTHER RESERVE CITIES, AND OF THE COUNTRY BANKS BEING SHOWN SEPARATELY. Central reserve cities, i j New York, I Other New York ! Chicago, reserve and City. cities.* St. Louis. Country banks'. Aggregate. 49 banks. I 79 banks. RESOURCES. $360, 300,460 $480, 521, 376 $511, 881, 315 $999,471,582 Loans and discounts 433, 403 859, 283! 1, 442, 978 12, 945, 65" Overdrafts 268,000 17, 370, 000; 31,789, £00 150, 482, 600 Bonds for circulation 060, 000 1, 860, 000J 4. 865, 000 Bonds for deposits 8, 501, 000 190, 800 3, 500. 600! 3j 347, 550 United States bonds on hand 3, 814, 050 380,787 47, 856, 632! 36, 874, 227 108, 569, 214 Stocks, securities, claims, etc , 87,208,199 161,641,409 Due from reserve agents Duo from other national hanks 26, 830, 326 50, 934, 369| 35, 850, 831 35, 693, 868 792, 163 9, 073, 503| 6, 963,123 11, 937, 285 Due from State banks and bankers.. Banking-house, furniture, and fix 11, 988. 578 13, 722, 707; 17, 883, 553 43, 577, 485 turos Other real estate and mortgages 1, 530,108! 2, 524, 448! 4, 997, 332 15,186, 611 owned 1,666,314 1, 861,4351 3, 393, 234 9, 369,610 Premiums 2, 713, 962)j 2, 877,194| 3, 267, 448 9, 432, 334 Checks and cash items 27, 649, 938 56, 552, 503 49, 630, 359 4,321,611 Exchanges for clearing house 1,084,721! 2, 617,153 3,391,316 12, 572,108 Bills of other national baiik.8 Fractional currency, nickels, and 48,162' 82, 720 191, 057 679,156 cents 82, 797, 841| 110, 792, 227 54, 206, 467 72, 251, 961 Specie 53, 948, 627i 63, 846, 015 22, 515, 727 34,182, 286 Legal-tender notes 330,000 United States certificates of deposit. 34, 980, 000! 37, 350, 000 7, 420, 000 674,158J 768, 678! 1, 434, 061 6, 520, 484 Redemption 258, 911! 319, 973J 213, 504 304,167 Duo from United States Treasurer.. Total :, 991, 874, 273 15,247.918 199, 642, 500 15, 226, 000 10, 662, 200 193, 300, 072 248, 849, 608 122, 479, 068 27,973^912 75,183, 746 22, 708, 39L 14, 624, 279 15, 576, 975 88, 524, 052 18, 580, 577 952, 933 237, 250, 655 120,544, 028 45,100, 000 8, 723, 223 897, 645 ! 691, 577, 680j 905, 290, 816: 866, 786, 760; 1, 701, 844, 478 3, 473, 922, 055 LIABILITIES. 50, 750, 000J 81, 350, 000 Capital stock Surplus fund 42, 341, 500 55, 795, 700 Undivided profits, less expenses and taxes paid 16, 317, 216 19, 048,970 National-bank notes outstanding... 11 060, 600 12, 349,465 State-bank notes outstanding 19, 189 19, 189 Dividends unpaid 241, 610 318, 272 Individual deposits 339,454,4711 429,597,037 808, 288 1, 555, 835 United States deposits Deposits of United States disburs111,155 150,816 ing officers 159, 723, 322 205, 549, 282 Due to national banks 70, 746, 349 99,164, 770 Due to banks and bankers 87, 500 Notes and bills rediscounted 300,000 Bills payable Liabilities other than those above 3,980 3,980 stated Total 160, 486, 760 58, 588, 235 427, 025, 08r 130, 813,583 16,110,510. 27, 558,175 6,574 805, 528 429, 385, 971 2, 853, 771 53, 764, 084 88, 923, 564 132, 424, 338 172, 331, 978 40, 527 66, 290 1, 452, 446 2, 576, 246 1, 435, 8111 1,728,418,819 5, 615, 304| 10, 024, 910 1, 349, 562! 106, 024, 563 58,565,931 509, 020 2, 325, 500 2, 216, 660 2, 216,159 32,118, 472] 25, 437, 0791 10, 856, 9071 9, 926, 778; 717,903 691, 577, 680i 905, 290, 816 866, 786, 760 1, 701, 844, 47 668, 861, 847 245, 197, 518 3, 716, 538 343, 692, 317 183,167, 779 11, 453, 428 12, 552, 278 2, 938, 543 3, 473, 922, 055 *Other reserve cities are Boston, Philadelphia, Baltimore, Albany, Brooklyn, Pittsburg, Washingon, New Orleans, Louisville, Cincinnati, Cleveland, Detroit, Milwaukee, Des Moiues, Minneapolis, ton St. Paul, Kansas City, St. Joseph, Lincoln, Omaha, and San Francisco. St 192 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING THE HIGHEST AND LOWEST POINTS REACHED IN THE PRINCIPAL ITEMS OF RESOURCES AND LIABILITIES OF NATIONAL BANKS DURING THE EXISTENCE OF THE SYSTEM. January!,! October 2, i Highest point reached, I860. I 1894. ' Amount. Date. $403, 357, 346; $668, 861, 847: $6S0, 573, 015 Sept. 30,1892 Capital Capital, surplus, and undivided profits *.. 475, 3.10, 204 1, 002, 982, 9291, 028. 765, 781 Oct. 3,1893 213, 239, 530| 172, 331, 978 341, 320, 256! D e c , 26,1873 Circulation Total investments in United States bonds 440,380,350] 225, 530, 700] 712, 437, 900 A p r . 4.1879 Individual deposits . . . 520, 212,174J1, 728, 418, 819 1, 765. 422, 983 Sept. 30,1892 do Loans and discounts.. 500, 650,109:1, 991, 874,272 2,153, 498, 829 Cash: National-bank notes 20, 400, 442| 18, 580, 577! 28, 809, 099 D e c . 31, 1883 Legal-tender notes .. 187, 846, 548(* 120, 544, 02811 205, 793, 578 Oct. 1.1806 16. 909, 363! 237, 250, 654 237, 250. 860 Oct. 2,1894 Specie j Lowest point reached. Date. $403, 357, 346! Jan. 1,1866 475, 330, 204i Do. 122, 928, 084| Oct. 2, 1890 170, 653, 059 Do. 501, 407, 586 Oct. 8.1870 500, 650,109 Jan. i; 1866 11, 841,104 Oct. 7,1867 52,156, 439 Mar. 11,1881 8. 050, 330 Oct. 1,1875 STATEMENT SHOWING Tin: PERCENTAGES OF LOANS, UNITED STATES BONDS, AND SPECIE TO THE AGGREGATE FUNDS OF NATIONAL HANKS, 1866 AND 1887 TO 1894. 1887. Loans and discounts United States bonds Specie Total.. 1890. • 1801. ! 1892. j 1893. Per ct. Perct. Per ct. Perct. Per ct. i Per ct. Per ct. | Per ct. Per ct. 41.32 £.75 68.60 70.52 71 04 72.26 74. 37 j 72. 92 73.35 6.44 j 6.41 36.36 6.25 8.41 9.98 9 87 7.80 7.77 7.40 6.73 7.12 4.31 1.57 8.17 7.37 11 90 6.58 79.25 ; 87.87 92.81 ! 86.64 88.21 } 86.06 86. 72 | 81. 47 ' Undivided profits, less expenses and taxes paid, beginning 1894. 1894. 84. 54 REPORT OF THE COMPTROLLER OF THE CURRENCY. 193 STATEMENT EXHIBITING A CLASSIFICATION OF LOANS MADE BY THE NATIONAL BANKS IN THE CENTRAL RESERVE CITIES (NEW YORK, CHICAGO, AND ST. LOUIS) AND OTHER RESERVE CITIES, IN GROUPS TOGETHER WITH COUNTRY BANKS ON APPROXIMATE DATES FOR THE PAST FIVE YEARS. OCTOBER 2, 1890. On paper On paper with inwith single dorsers, othname, unseerwise uncured. secured. On time, with U. S. bonds, other bonds, stocks, or collaterals as security. as security. On demand, w i t h U. S. bonds, other bonds, stocks, or collaterals Total. 47 $29, 044, 063 $122, 226, 904 $102, 372, 932 $43, 466,1,652 $297, 110,551 ,125, 219 16, 506,:, 704 78, 244,158 19 16, 714, 673 27, 897, 17, 346,312 6, 681,,993 29, 475,102 8 2,172, 008 16, 274, 4, 582, 852 48, 664,•,875 297, 216,165 138 45, 604, 639 146, 363, 56, 002, 538 13,140,,182 50 137,745 8, 683, 687 33,311, 11, 540, 565 10, 752,:, 917 55, 649, 46 21,118, 680 062,140 10, 225, 020 10,313,, 144| 18, 602, 25 10,116, 981 257, 225 6, 538, 244 144,715,700 1,058. 519, 601 3,207 164, 665, 256 685, 600, New York Chicago St. Louis Group No. 1, 5 cities x Group No. 2, 4 cities* Group No. 3, 6 cities * Group No. 4, 4 cities * Country 63, 3,540 298,119,9871,105,926,851 271, 733, 682 294, 242,167 1, 970, 022, 687 Total . SEPTEMBER 25,1891. On time, with U. S. bonds, other bonds, vStocks, or collaterals 'as security. as security. On paper On p a p e r w i t h one or On demand, | w i t h withinbonds, other with single more in, dorsers, oth- dorsers, othname, bond, erwise unsecured. erwise unstocks, or unsecured, j collaterals secured. Total. 49 $25,125, 313 $116, 957, 046 $2, 925, 418 $113, 787,196' $42: 783, 829 $301, 578, 802 New York 21 17, 937, 791 34, 889, 300 3, 704, 939 .13, 525, 638 17, 508, 229; 87, 565, 897 Chicago 9 St. Louis '558,571 3,999,711 6, 595, 233 27, 864,107 2, 093, 451 14, 617,141 Group136 42,118, 748 141,021,853 9,015,155 54, 233, 863 48, 397, 495 294, 787,114 No. 1, 5 cities* .. 54 8, 457, 434 29, 991, 803 1, 084, 034 11,149, 928| 14, 393, 999 65, 077,198 No. 2, 4 cities* .. 49 18, 809,101 54, 500, 479 3, 361, 241 9, 923, 642! 11, 684, 959 98, 279, 422 No. 3, 7 cities* .. 26 No. 4,4 cities* .. 7, 498, 961 14,130, 558 2,106, 638 5,596,114' 9,954,626| 39,286,897 3, 333 159,412,548 662, 814,133 35,679,262 54, 065,103 162, 943, 757.1, 074, 914, 803 Country Total 3, 677! 281, 453, 347 1, 008, 922, 313 58,435,285 266,281,195 314,262,127 1,989,354,240 SEPTEMBER 20, 1892. I demand, On time, On time, On demand, IOn by paper with single-name paper with secured stocks, paper(one one or more bonds and two or more person or individual other per individual firm) Tritiior firm or firm sonal secuout other names. names. rities. security. Total. 48; $4, 931, 784 $117, 751, 2271 $117, 796, 025 $38,147, 0051 $65, 573, COOJ $344,199,941 23j 7, 853, 3231 16, 617, 3971 40, 307, 355' 18, 128, 140 21,006,8011 103,913,025 1,079,4061 4,722, 783 16,137,981, 2,744,362 8,192, 840| 32, 877, 372 New York Chicago St. Louis GroupNo. 1, 5 cities*.. No. 2, 4 cities*.. No. 3, 7 cities*.. No.4, 4 cities*.. Country Total On time, secured by stocks, bonds, and other personal securities, or on mortgages or other real-estate security. 11,998,687 2, 0"2,198 8, 028, 468 5, 751, 0^7 54, 205, 372 3,773 52, 893,245 10, 740,223 12,133, 686 2, 698,736 55, 770,992 144,780> 329 53,328,579 54,982,554J 317,983,394 30, 656, 759 8,910,933 14, 945, 457i 67, 325, 570 55, 564, 357 20,377,874 13, 8~9,8811 109,984,266 14,326,995 7, 380, 208 11.288,439 41,445,455 677,626,891 171,265,156 176,901,3951,135,769,806 95, 920, 315 273, 328, 289 1, 097,196, 692 320, 283,166 366, 770, 367 2,153, 498, 829 * Group No. 1, Boston, Albany, Brooklyn, Philadelphia, and Pittsburg. Group No. 2, Baltimore, Washington, New Orleans, and Louisville. Group No. 3, Cincinnati, Cleveland, Detroit, Milwaukee, Des Moines, and Minneapolis. Group No. 4, Kansas City, St. Joseph, Lincoln, Omaha, and San Francisco. 8182 CUR 13 194 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT E X H I B I T I N G A C L A S S I F I C A T I O N OF* L O A N S MADE B Y T H E N A T I O N A L BANKS IN T H E CENTKAL R E S E R V E C I T I E S , ETC.—Continued. OCTOBER 3, 1893. On demand, On demand, secured by On time, paper w i t h paper with stocks, two or more individual or firm names. 49; New York 21' Chicago 9 St. Louis Group— 13(5 No. 1, 5 cities*. 53 No. 2,4 cities*. 52 No. 3, 7 cities *. No. 4, 5 cities . . 27 Country ! 3,434 Total On time, dngle-name paper (one person or rm),without other security. On time, secured by stocks, bonds, and other personal securities, or on mortgages or other real-estate security. Total. $6, 216, 350 $93, 897,446 $110, 225, 762 5, 509, 670 13, 815, 6141 24, 522, 359 3,350,523 9,424,921 1, 626,168 864, 953 $43, 836, 515,691 15, 558, 863, 841 6, 691, $281, 040, 663 72, 922, 290 22, 1)57, 399 10,442,401 1,565,493; 7, 767, 904! 5, 382, 4361 52, 576, 784J 637, 045 51,575, 985, 533 j 13, 418, 580, 606j 14, 390, 114, 318 8. 088, 125,133i 164, 935, 280, 178, 570 58, 827, 084 90, 378,650 33 523, 722 990 838, 968 47.358,410 9,456,808; 10, 060, 8491 3, 058, 636! 75, J18 992| 3,781! 91,087,210 256,117,281; 131,164, 27, 400, 43, 579, 11,880, 562, 082, 920,280,115! 244,687,123! 318,495,617,1,830,607,349 OC TO BE II 2, 1834. New York Chicago St. Louis Group — No. 1, 5 cities * No. 2, 4 cities * No. 3, 7 cities * No. 4, 5 cities * Country Total. 49 21 9 $4, 009, 254 $115, 514, 802, $114, 317, 296 $49, 827, 589 $76, 631, 519 $360, 300,460 31, 333, 6, 311, 703 18, 246, 472 421,908 20, 173, 208 91, 486, 570 1, 484, 554 10, 453, 036, 410 10, 361, 574 28, 734, 347 4, 397, 974; ! ! 136 11, 518, 242 58, 745, 314 129, 622, 147, 795 63,151, 521 310,185, 767 50 2,152, 694 25, 476, 750, 850 14, 648, 534 60, 352, 366 9, 323, 952:. 52| 8, 620, 372 11,046,5771 48, 943, 485, 651 18,984,832 104, 080, 574 5, 368,234 12, 316, 691, 337 10, 687, 373 37, 262, 608 27 4,199, 419! 341, 090 185,072,312 939,471, 581 3,411' 53,531,524 53, 603, 787i 561, 922, 3,7 92,996,57; 275, 078, 297i 934, 385,1 289, 702, 630 399, 710, 873 1,991,874,273 * Group No. 1, Boston, Albany, Brooklyn, Philadelphia, and Pittsburg. Group No. 2, Baltimore, Washington, New Orleans, and Louisville. Group No. 3, Cincinnati, Cleveland, Detroit, Milwaukee, Des Moines, St. Paul, and Minneapolis. Group No. 4, Kansas City, St. Joseph, Lincoln, Omaha, and San Francisco. REPORT OF THE COMPTROLLER OF THE CURRENCY, 195 STATEMENT SHOWING THE CLASSIFICATION OV THE LOANS BY NATIONAL BANKS IN NEW YORK CITY FOR TUP: LAST NINE YEARS. Oct. 7,188G. | Oct. 5,1887. j Oct. 4,1888. j Sept. 30,1889. | Oct. 2,1890. Loans and discounts. 45 banks, j 47 b a n t s . ; 40 banks. ! '45 banks. [ 47 banks. On indorsed paper j $121,381,380 ! $115,316,025 j $117,707,044 • $119,369,404 j $122,226,904 17,585,496 28,620,295 | 31.860,578 On single-name paper I 24, 646, 008 29, 044, 063 1,445,900 j lj 124,109 | 2, 002, 550 2,132,159 ; On U. S. bonds on demand 583,820 On other stocks, etc., on dei 95,075,844 1C8, 466, 001 ! 108, 258,112 101,789,112 mand j 91, 636, 791 211,432 146,885 113,494 j 228, 778 201,878 On real-estate security ! 43, 237, 874 35, 450, 488 j 43,078,085 All other loans j 13, 854, 215 | 28, 443, 431 Total.... ! 253,732,376! 258,014,181 j 292,495,4811 303,898,166: 297,110,551 Sept. 25,1891. Loans and discount* 49 banks. On On On On On paper, with single name, unsecured paper, with one or more indorsers, otherwise unsecured demand, with one or more indorsers, otherwise unsecured-. demnnd, with TJ. S. bonds, other bonds, stocks, or collaterals, as security . time, with TJ. S. bonds, other bonds, stocks, or collaterals, as security $25,125, 313 116, 957, 04G 2, 925, 418 113,787,196 42, 783, 829 Total. 301,578,802 Sept, 30,1892. Oct. 3,1893. | Oct. 2,1894. 48 banks. 49 banks. I 49 banks. Loans and discounts. On demand, paper with one or more individual or firm names On demand, secured by stocks, bonds, and other j>ersonal securities On time, paper with two or more individual or firm names On time, single-name paper (one person or firm) without other security On time, secured by stocks, bonds, and other personal securities, or on mortgages or other real-estate security. Total $4,931,784 j $6,216,350.57 $4,009,254.02 93, 897, 446. 82 115,514,801.97 117,796,025 I 110,225,702.11 114,317,296.37 26, 804, 953. 38 49, 827, 589. 03 65, 573, 000 i 43, 836,150. 94 76, 631, 518. 58 117, 751. 2 38,147, 905 344,199, 941 281, 040, 663. 82 360, 300, 459. 97 CLASSIFICATION OF THE LOANS AND DISCOUNTS OF THE NATIONAL BANKS IN THE RESERVE CITIES AND IN THE STATES AND TERRITORIES ON OCTOBER 2, 1894. Cities, States, and Territories. On demand, paper with | No. of one or I banks. more individual or firm names. New York City Chicago St. Louis Boston Albany Brooklyn Philadelphia Pittsburg Baltimore "Washington City New Orleans Louisville Cincinnati Cleveland Detroit On time, ! secured by On deOn time, stocks, mand, seOn time, single- bonds, and cured by paper with name pa- other perstocks, two or more per (one sonal sebonds, and individual person or curities, or other peror firm firm) with- on mortsonal senames. out other gages or curities. security. other realestate security. Total. 009, 254 $115, 514, 802 $114, 317, 296 $49, 827, 589 $76, 631, 519; $360,300, 459 311, 702i! 18, 246, """' 31, "" 333,279) 15. 421, 908| 20,173, 208 91, 486, 570 484, 554 4, 397, 28, 734, 347 10,4453, 834 2, 036,410: 10,361, 574 305,406 25, 863; 957 67, 059, ( 124 27, 919,321 25,724, 662 154, 872, 471 602, 716 3, 065, 981 283, 872 975, 578 7, 716, 679 2,1788, 531 130,343 3, 748, 586' 3;603, 222 426,100 1, 222.063 9,130,313 425,270 21, 095, 428 i 33, 781, 556 16,439,444 26, 041;719J 98,783,417 054, 508 390, 462 4, 971, 361| 22, 079, 057 9,187, 499 39, 682, 887 268,954 4,411, 975} 13, 800 861, 228 5,607, 888; 32, 841, 844 9 896, 514 208, 087 104, 344 1, 372, 7H^ 827, 033; 6, 408, 682 519, 4201 2, 961, 579, 337 3,913, 7211 12, 649, 920 675, 967 156, 234 205, 941 4, 299,892| 577, 212, 055 8,451.920 110, 008 3, 889, 134, 646 ., 714, 072 5, 060,760j 26, 908, 563 454, 525! 3, 541, 443, 969| 1, 851, 429 3,872, 792! 24,164, 323 208, 517; 180, 249J 1, 443,142 2, 050,750! 14, 760, 282 877, 196 REPORT OP THE COMPTROLLER OF THE CURRENCY. CLASSIFICATION OF THE LOANS AND DISCOUNTS OF THE NATIONAL BANKS IN THE RESERVE CITIES, ETC.—Continued. Cities, States, and Territories. On demand, paper with No. of one or more barks. individual or firm names. $1, 438, 712i $1, 059,882, $6, 561, 045 112,334 40, 7081 918,142 1,189,618 1,136,442 3,018,109 1,106, 657 50-1, 246 4, 686, 983 825, 753 1, 057, 329 4, 328, 018 200,912 87,385 1, 846, 855, 110, 924 192,115 1, 371, 400 9 649,430 557,988 4,214,853 2 3, 581, 215 2, 304, 602 555,119 Milwaukee Des Moines . . . St. Paul Minneapolis... Kansas City... St. Joseph. Lincoln Oniaha San Francisco. Total. T $2, 932, 468 $1, 825, 492 $13, 817,598 818,388 598.198 2, 487, 769 2, 467, 601 3, 677, 907 11, 489, 676 2, 258, 552 1, 898, 926 10, 452, 364 2, 544, 342 5, 980, 940 14, 736, 380 552,097 791,673 3, 478, 922 167,960 698, 206 2, 540, 606 1, 224, 650 3, 026, 667 9, 673, 595 202, 282 6, 833,104 189, 887 992, 402, 691 1, 601, 840 109, 229 939, 946 1, 063, 6981 1, 747, 960! 2,166, 838; 5, 071, 92l| 1, 506, 867 1, 309, 899 2, 405, 531! 891,191! 215, 358| 528, 004! 621, 849 1,463,645 307,168 2, 794, 793! 1, 568, 637i 52, 583 164, 052 172, 625 309, 462! 1, 632, 929 142, 072 117,439 1, 635, 222 47, 020! 1,100| 9,200 1, 249, 782 14, 730, 761 1, 466,199 2, 665, 061 20, 986, 440 1, 645, 798 5, 459, 703 504,414 1, 633, 470 11,103, 767 579,108 7, 722, 660J 1,102, 018 1, 907, 378 12, 598, 242 7,490, 796 57, 881,139 20, 685,296 16, 047, 028 106,515,893 1, 547, 290 17, 226, 027| 8, 322, 632 8, 048, 538 35, 753, 049 3, 841, 703! 24, 393, 740-; 8,114, 835 7, 263, 076 45, 782, 423 3,817,599, 70, 328, 210( 8,947, 702 9,198,120 98,140,061 7, 461, 994 28, 853, 373! 4,761,281 4,175, 981 47, 447,425 2, 301, 522 75, 605, 347 i 9, 038, 640 14, 712, 020 103, 230, 028 317,554 4, 046, 609 137,170 . 656, 270 5,312,282 248, 034 7, 800, 968 603, 079 1, 085, 046 9, 876,006 42,747 245, 025 160, 338 448,110 1, 077, 718 9, 508, 440 824, 759 2, 823, 639 14, 865, 669 77, 449 6, 206, 798 295,330 762, 033 7, 448, 833 218, 320 3, 603, 583 577,618 1, 316,165 5. 859, 525 327, 935 2, 450, 036 187, 948 2, 367, 761 5, 357, 312 846, 016 2, 273, 644 874,945 3, 852, 219 8,168, 018 105, 017 1, 861, 762 1, 224, 735 1, 045, 422 4, 352,166 448, 723 2, 367, 964 1,211,306 1, 970,159 6, 388, 466 325,600 204, 502 901, 813 830,831 2, 338, 716 46, 503 1, 096, 707 435, 06^ 426, 454 2, 073, 017 1, 208, 867 17, 223, 500 11, 296, 12,149,155J 43, 480, 053 149, 415 1, 073, 241 344, 52K 565, 822; 2, 242, 235 381,855 12, 440, 479 1, 254,18( 3, 880, 271 18, 896, 737 1, 226, 710 8, 780, 680 2, 839, 077 4, 894, 839 18, 805, 004 2, 059,109 43, 485, 286 7, 496, 291 10, 893, 909 65, 682, 555 1,154, 048, 20, 323, 801;1 3, 544, 208 4, 478, 561 31,667,456 2,175,116 22, 832, 225 7, 565, 011 7, 298, 561 44, 942,834 1,018,336 16, 053,124 5, 098, 387 4, 587, 444 28, 264,158 949,098 12, 706,498, 3, 334, 548 3, 474, 558 21, 774, 601 1, 005, 212! 14, 608,188! 6, 750, 991 6, 850, 859 31, 620, 781 917, 343; 7,130,903! 2, 905, 031 3, 651, 374 15,495, 842 132, 311j 4, 238, 705 929, 981 1,427, 767 6, 944,122 238, 215! 6, 318, 964 3, 064, 514 8, 015, 071 18,164, 768 463,949| 6,242, 349 2, 670. 346r 5, 005, 067 15, 003, 560 1,562,377! 6, 564, 580 4, 909, 93 6, 381, 287 20,881,826 82,108 60, 563J 62, 985 64, 660 577, 484 1, 893,118 2, 442, 364 l,006,16i 2, 501, 663 10, 638,104 860, 491 1, 830, 971 2,189,165 1,551,564 8, 000, 828 71, 463 13,496 230,245 156, 517 524, 304 640, 005 3, 496, 033 5,191, 036 197, 066, 693, 880 649, 252 2,190, 994 77, 747 678. 742 3, 769, 360 208, 780 122,634 442,141! 364,471 1, 447, 488 140,050 1 3, 705, 7111 3, 739, 45 3,136,162 12, 354, 303 321, 283 120, 902 568, 4361 347,313 1,499,956 424, 754 1, 402,112 186, 871 835, 4471 2, 966, 623 1, 312, 509 3,131, 700 1, 484, 703 3, 870, 566 11, 434, 700 686, 464 51, 340 597.060 813,860 2,195, 744 56, 165,718 138,131 361, 630 105, 493 372.061 115, 287 602, 041 3, 411| 53, 531, 524 53, 603, 787i 561, 922, 868 145, 341, 090 185, 072, 3129, 471, 581 Maine New Hampshire Vermont Massachusetts Rhode Island Connecticut New York New J ersey Pennsylvania Delaware Maryland District of Columbia .. Virginia West Virginia North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee Ohio Indiana Illinois Michigan Wisconsin Iowa Minnesota Missouri Kansas Nebraska Colorado Nevada California Oregon Arizona North Dakota South Dakota Idaho Montana. New Mexico Utah Washington Wyoming Oklahoma Indian Territory I United States On time, secured by stocks, Donds, and other personal se3urities, or on mortgages or other realestate security. 3441 39,465,053 221,474, 510! 372,463, 028144,361, 540 214, 638, 560 Total of cities Total of country banks On time, On desinglemand, se- On time, cured by paper with name pastocks, two or more per (one bonds, and individual person or other peror firm firm) with out other sonal senames. security. curities. 49 213 59 83: 273 100 335' 18! 46 1 37 30; 26 14j 29 19 27 \i 217 8 70 49 222! 115 196 90 78! 165' 66 50 126 114 48 2 32 35 5 32 35 12 27: 9! llj 59 12: 6 874,637 1, 800, 382 1, 287, 078 4,411,634 608, 562 2,169, 069 5, 848, 430 2,194, 796 1, 572, 499J 154, 679 138,879 631,113 103, 223 143,839 23, 632 321,194 115, 230 390,314 75, 970 I 3, 755; 92, 996, 5771 275, 078, 297 934, 385, 896J289, 702, 630 399, 710, 872 1, 991,874, 272 REPORT OF THE COMPTROLLER OF THE CURRENCY. 197 TABLE, BY STATES, TERRITORIES, AND RESERVE CITIES, EXHIBITING THE AMOUNT OF EACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS ON OCTOBER 4, 1888, SEPTEMBER 30, 1889, OCTOBER 2, 1890, SEPTEMBER 25, 1891, SEPTEMBER 30, 1892, OCTOBER 3, 1893, AND OCTOBER 2, 1894. OCTOBER 4, 1888. States, etc. Dollars. Fractional Maine New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut 811. 76 931. 70 242. 49 139.18 172.09 863. 35 182.11 515.548.93i 1,063,845 New York New York City .. Albany New Jersey Pennsylvania Philadelphia Pittsburg 1, 216, 790 7,138, 669. 50 34, 305,120 402, 960. 50 535, 700 490. 59 309,470 284,160 172, 450; $8, 890, 000 823, lOO! 385,126 362,213 18, 500 194, 805 541,141 346, 946 154, 299 57. 646, 790| 8, 890, 000;2, 003, 03011, 060 Delaware Maryland Baltimore District of Columbia Washington Virginia West Virginia 46, 450 69, 251 101,658 4,060 13,165 87, 756 19,157 751.09 612. 29 337. 36 260. 50 974.50 127. 05 963.02 North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana New Orleans ... Texas *. Arkansas Kentucky Louisville Tennessee 50,873 63, 841 191, 526) 46, 468! 52, 607 32,122 26, 565 114, 592 416, 152 25, 523 67, 570 43, 630! 215, 062| 17, 418.10 19,142. 05 24, 005. 03 16, 552. 39 13,180. 36 8, 503. 65 16, 668. 05 61, 523. 85 49, 749. 95 7, 572.10 15, 984. 33 5, 022. 75 39, 858. 85 Ohio Cincinnati Cleveland Indiana Illinois C hicago Chi..., Michigan Detroit Wisconsin . Milwaukee 2, 422, 423. 80 369, 997. 50 729, 789. 50 1, 729, 041. 62 1, 972, 502. 50 [ 9 i 757', 108. 50 1,154, 512.93 972,174. 50 785,011.87 455, 377. 00 116, 657. 86 11, 671. 75 14, 904. 91 62, 733. 104, 820. 92 254, 807.10 45, 064. 67 53, 500. 36 46, 524. 54 9, 040. 00 45, 9731 156, 500 25, 000, 40, 370 98, 558 416, 725 20,575 12, 535 11,371 ,534 2,150, 2, 621, 13,071, 1,385, 1, 089, 949, 593, D i v i s i o n N o . 5 . . 20, 347, 939. 72 Iowa Minnesota Missouri St. Louis Kansas City St. Joseph Kansas... Nebraska Omaha division No. 6.. 75, 680 5, 9, 000; 355,0001. 251, 200' 50,260! 24, 260 15, 960 32, 950 58, 790 12,160 8,587 92, 400! 87,120[ 26, 327| 63, 947; 32, 582; 11.540! 1, 626, 264. 65 2,169, 216. 64 281, 414. 51 962, 497. 00 1,504,628.47 174, 373. 70 1, 2*38, 505. 90 736, 498. 30 1, 022, 208. 22 198 REPORT OF THE COMPTROLLER OF THE CURRENCY. AMOUNT OF EACH KIND OF COIX AND COIN CERTIFICATE HELD BY THE NATIONAL KANKs, ETC. —Coutinvied. OCTOBER 4, 1888—Continued. , Gold TreasGold , . • ;: nry cer! tincates. States, etc. j Gold I Silver coin. Silver ! j clearing-! Treas- j jhousecer-! I * ury cer- i tificates. ! Dollars, i fractional. tificates. j ! j Colorado Nevada California San Francisco Oregon Arizona $1, 334,134. 05 $0,490 i $74,457 ! 4(3, 727. 50 ' CO; | 5, 029 ! 2, 280, 137. 90 122,180 1 113,289 j 928, 022. 50j 3, C50; $180, 000! 14, 043 i 875. 572. 50! 12,190 18, 034 ! 14, 010. 00!. 500 Dakota Idaho Montana New Mexico Utah Washington Wyoming ! j ' 144, 570! 371,845.10 101, 784. 50i 730, 950. 00. 108,209.50 ! 323.808.30; 1 G79, 997. 70 i 198. 992. 00: Division No. 8..j 2, 521*047. 70 180, 000| 220, 552; 50, 879 6, 702 48, 589 8,557 6,213 42, 344( 4, 92 17,240 1, 030 40, 000 1,000 55, 500| 10, 700 0001 127,330. Total. I 108,271 $28, 750. 50 2, 845. 09 42, 964= 08 15, 255. 3: 13, 979. 80 1,437.10 $11,098 285 52, 220 105, 237. 95 85,046 21,154. 1,217. 11,744. 4, 522. 5, 597. 7, 804. 4, 804. 50, 844. 74 $1,455,536.21 55, 546. 59 2, 610, 790. 98 I 1,142,170.82 20, 843 940, 619. 30 ! 15,947.10 496! 117| 224! 100 009 895, 792 i 64, 933; 6,226,601.00 470, 615. 00 117,510.85 870. 407. 00 124, 448. 85 396,127. 75 749, 740. 99 210,176. 00 2, 939, 020. 44 United States - - 70, 222, 905. 95 81, 088, 790j 9, 070, 000 7, 051, 931J3, 255, 891. 09 7, 298, 298 177, 987, 810. 04 SEPTEMBER 30, 1889. Maine New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut $611,151.51 $4, 830 276, 224. 05 5,300 317,710.80 10,210 2, 201, 960. 47 294, 200 4,457,576.00 5, 369, 820 421,327.25 1,305,898.51 89, 560 262, 820 Division No. 1.. 9,591,854.59 0,036,740 . •New York 3,232,797.64 1,030,370 . New York City .. 7, 090, 549. 50 48, 925, 260 . Albany , 329, 347. 70i 450, 000 . 1,071.654. 42j 189, 270 New Jersey 3,G70,770.53| 350, 740 Pennsylvania 1,573,016.00, 467, 430 $7, 000. 000' Philadelphia 1,743,812.00' 974, 000 '....! Pittsbnrs $39, 928 56, 872 25, 589 252, 370 87, 897 41, 795 91,519 $36,167. 51 37, 729. 89 39, 073. 69' 247, 212. 02! 86,117. 54! 71,292.71 112,373.23 595, 970 029,960.59 1,266,127 18,120, 658.18 253,903 220,699 17, 100 104,237 464,60? 217, 425 119, 502 267, 762. 70 362, 524 255,586.02 2,589,798 6, 047. 00 21, 482 172, 035. 35 296, 980 267,083.43 389,397 182, 861. 02 757, 031 52, 007. 95 179, 576 Division No. 2.. i8, 717, 977. 7..»,'L2, 393, 070 7, 000, 000 1, 397, 531 1, 203, 983. 47, Delaware 138, 871. 00 42,155 22, 915. 64 11,890 Maryland 301,597.97 41.350 41, 870. 02 50,670 54, 394 42, 230. 88 Baltimore 1,024,545.50 1, 343, 040 225, 000 3,783 District of Columbia98, 840. 50| 90, 000 1,481.25 11,247 19, 582. 00 108, 076. 00 601, 020 Washington 79, 684 35, 029. 83 311, 021. 50 8,730 Virginia. 13, 778 11, 744. 25 216, 166. 68 13,800 West Virginia Division No. 3..! 2,199,119.15 2,119,150 North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville Tennessee D i v i s i o n N o . 4 . . 2, 528, 389. 09 21, 920 1,860 13,170 1, 800 8, 040| 58, 900! 71, 290 12, 200 41, 370 63, 500 118.000 412,680! 246, 391 175, 459. 87 ~~G2,~844 57, 593 93, 578 48,190 40, 393. 09 24, 570. 90 40, 800. 81 10, 702. 70 28, 035. 55 14, 649.15 8, 988. 35 38, 379.15 59, 236. 95 0, 745. 05 27, 370. 71 8, 654. 90 38,110. 87 108,060 33, 651 14, 092 46, 232 234,301 38, 889 51, 50' 23, 760 122, 823 935,526 $40, 036 $732,113.02 25, 014 401,139. 94 12, 650 405, 233. 49 250, 783 3, 246, 531. 49 703, 018 10, 704, 428. 54 76,139 700,113. 96 158,487 1, 931, 097. 74 4, 596, 788 85, 309, 350. 26 286, 951. 64 71,120 77,104 512, 597. 99 287,840 2, 977, 050. 38 9,891 203, 995. 75 201,611 941, 536. 00 84, 927 519, 992. 33 15, 856 271, 344. 93 748, 349 5, 713, 469. 02 4,441 38,096 117,964 1,463 88,315 40, 703 52, 074 415, 410 281,188 43, 081 36, 814 45,285 88, 574 347, 298. 78 1,251,068 5,477,961.87 REPORT OF THE COMPTROLLER OF THE CURRENCY. 199 AMOUNT OF EACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS, ETC.—Continued. SEPTEMBER 30, 1889—Continued. Gold coin. States, etc. Ohio Cincinnati Cleveland Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee Gold Gold Silver Silver coin. Treas- clearing Treasury cer ury eer- louse cerj tificates. tificates. Dollars. Fractional. ! tificates. j Total. $2,425, 974. 67 317, 739. 00 €31, 680. 00 1, 680, 614. 69 1, 837, 607. 81 11, 594,795. 00 - 1, 082, 062. 69 15, 425. 50 806, 332.15 602,185. 00 Division No. 5 .. Iowa Minnesota Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Omaha 902, 1, 752. 251, 1, 061, 1, 284, 148, 849, 546, 950, 56,120 7,310 10,290 395, 000 130, 540 80, 460 26,150 13, 730 15, 600 Division No. 6 .. Colorado Nevada California San Francisco Oregon Arizona 24, 550 140,410 1,390 $110, 000 40,000| 141,314 7, 500 19,868 142 Division No. 7 .. Dakota Idaho Montana New Mexico Utah Washington Wyoming ! ! 348, 812.10 109, 630. 00 614, 095. 00 147,122. 50 457, 235. 53 26,778' ,220, 47, 285! 13, 062 19, 003 51, 079 7,030 1, 248, 730. 00 194, 983. 50 20,238.46 22, 808 0,689 14, 905 725 435,196. 56 136, 202. 48 743, 019. 20 166, 700. 05 569, 799.18 1, 352, 061. 50 211.590.90 Division No. I United States .. [71, 601, 529. 9466, 010, 950{ 7, 375, 000;5, 543, 0.06 3, 728, 900. 9010, 067, 062 164, 326, 448784 OCTOBER 2, 1890. $41, 820; $602, 874. 89 , ; 268, 771. 25 4,150 316. 702. 85 12,120! 2, 306, 246. 38 330,130 3,651, 524. 50 403, 039. 36 i, 538, 790 156, 540 1, 384, 923. 24 288,270 Division No. 1.. 8, 934, 082. 4 7, 371, 820 Maine New Hampshire Vermont : Massachusetts Boston Rhode Island Connecticut I $48, $ , 059j j $39, 218. 33 630, 170 3, 060,378. 34 New York New York City .. 8, 631,003. 00 65,551, 590 ,A! " Albany 415, 144. 50| 511, 000 584, 200 Brooklyn 132, 848. 00 256, 520! New Jersey 1,167, 601. 91 Pennsylvania 3, 929,012.10| 402, 830J 150, 210 $3,150, 000 1, 731.829. 501 3,15 Philadelphia 1, 738,876. 501 906, 3801 Pittsburg 56. 30, 293, 80, 36, 104, 098' 49,127. 21 08ll 37, 316. 78 386J 252, 934. 59 266! 92, 004. 01 931! 80, 276. 60 210! 117, 233. 67 $67, 884 $799, 856. 22 55, 647 433, 793. 46 28,414 424, 634. 63 369, 949 3, 552, 645. 97 996, 026 11,358,610.51 140, 846 817, 632. 96 283,495 2,178,131.91 649,031; 668,111.19 1,942,261 19,565,305.66 287, 419! 267, 232! 15, 435i 13, 333: 155, 844! 491, 7001 316,751 187, 768! 276, 835. 54j 255, 873 328,370.03 3, W .„,, 681, i , 745 8, 554. 75| 16, 792 32, 783. 20| 180, 871 183, 705. 67| 444, 643 314,143.18! 480, 232| 281,162. 31 i 923, 777i : 70, 891.15 314, 846 4, 510, 675. 88 78, 459, 940. 03 966, 921.25 944, 035. 20 2, 2*08, 314. 58 5, 617, 917. 28 9, 553, 729. 81 3, 218, 761. 65 Division No. 2.. 20, 806, 69*3. 85 71, 992, 900 3,150, 000 1,735, 477 5, 496, 445. 83: 6, 298, 779 105, 480, 295. 68 200 REPORT OF THE COMPTROLLER OF THE CURRENCY. AMOUNT OF EACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS, ETC.—Continued. OCTOBER 2, 1890—Continued. States, etc. Delaware ' Maryland Baltimore District of Columbia . Washington Virginia West Virginia Division No. 3.. Gold coin. $156, 931.14 $7, 294,910. 81 67, 457,112. 50 2, 260, 103, 923.50 110, 108, 436. 50 1,131, 369, 895. 00 47, 257, 912. 28 14, $30, 291 $25, 558.11 51, 340 48, 257. 85 75,102 50, 451. 38 7,287 5, 485. 75 7,863 42,164. 55 74, 555 35, 531. 80 24, 910 20, 057.17 1,749,121.73 3, 639, 070 North Carolina South Carolina :.. Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville Tennessee 184, 338. 30 223, 350. 35 422, 448. 69 29, 654. 65 289, 812.00 39, 719.00 7, 530. 00 154, 462. 50 737, 805.15 30, 010. 00 548, 288. 80 218, 568. 00 422 054. 50 Division No. 4.. 3, 308, 641. 94| Ohio Cincinnati . Cleveland .. Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee. Gold | GoldSilver coin. Silver Treas- I clearingTreasu r y cer- house cerury certificates, tificates. Dollars. Fractional. tificates. 2, 73, ""20," 2, 15, 301, 194, 15, 44, 34, 109, 6 $305, 609.25 572, 328. 66 3, 224, 585. 88 240,488. 25 1, 588, 078. 05 656, 781. 80 339, 069. 45 271, 348 227, 506. 61 1, 039, 895 6, 926, 941. 34 27, 627 57, 233 123,653 71,554 95, 971 34, 836 25, 520 56, 915 352, 724 31, 451 76, 660 26,548 201,882 243, 798.50 320, 273. 08 776, 147. 79 124, 087.63 495, 128. 55 127, 252.15 116, 000. 45 971, 514.48 1, 725, 375. 27 131, 786. 99 744, 660. 00 322, 360. 05 103, 810 2, 420, 812.37 275, 719.601 475, 000 177, OOOl 786, 965. 50! 145, 490 1,932. 387. 58! 237, 250 1, 807, 274.55 10, 849, 786. 50 5, 215, 400 59, 250 1,158, 699.04 116,580 822, 327. 50 39, 840 896, 186. 70 225, 000 617, 000. 00 1,811, 377. 50 23,101. 20 8,172 24,123. 73 13, 486 32, 397.10 123, 989 18, 243. 98 4.635 23,156. 55 65, 369 19, 943.15 30, 054 13, 295. 45 53, 915 34, 445. " • 424,191 84, 456.12 355, 980 17, 965. 99 36, 519 33, 482. 20 41, 829 10, 348. 05 32, 296 55, 865. 52 99, 422 150, 806.22 27, 373. 89 15, 010. 25 111, 890. 35 143, 473. 63 216, 478. 72 85, 285. 85 46, 908. 05 60, 399. 08 7, 820. 00 04. 02 6, 988, 088. 96 125,131 3,105, 257. 59 172, 950 1, 020, 279. 49 22, 032 1, 026, 473. 75 175,912 2, 580, 612. 93 148, 488 2, 559, 343.18 527, 516 17, 006, 659. 22 66, 559 1, 487, 303. 89 49, 720 1, 075,888.55 52,137 1,120, 286. 78 7,891 879, 659. 00 1, 286, 203 865, 446. 04 1, 348, 336 31, 861, 764. 38 117, 644 27, 443 118,105 11. 200 40,972 672, 484 170, 276 44,439 107, 719 73, 640 37,506 36, 390 Division No. 6.. 8, 710, 406. 552, 343, 850 Colorado Nevada California San Francisco Oregon Arizona 110,370 381, 720 13, 792 297, 724 129,120 21, 340 1,182, 574 390, 836. 02 1, 289, 857 >180 Division No. 5. 21,567,159.34 6, 794, 620 67,350 Iowa 1,192, 871.10 4,840 Minnesota 651, 600. 70 St. Paul 1, 017,869. 45 Minneapolis 30, 000 739, 050. 25 Missouri 257, 992. 50 11,120 St. Louis 497, 523. 50 1, 848, 790 Kansas City 886, 925. 00 152,430 St. Joseph 162, 267. 50 • 71, 260 856, 101. 30 Kansas 97, 500 636, 827. 75 Nebraska 24,170 Omaha $85, 829 Total. 1, 661, 430. 34 765, 802. 85 1, 306, 385. 50 851, 444. 25 390 812. 55 3, 060, 431. 64 1, 367, 211.12 297, 356. 55 1, 279, 839. 00 851, 892.12 1, 998, 224. 20 924, 689 430, 456. 57 1, 421, 428 13, 830, 830.12 1, 920, 630. 91 40, 932. 50 1, 800, 211. 50 843, 042. 50 1, 301, 926. 50 49, 770. 00 31, 550 220 57,140 2,000 2, 270 340 92, 634 3,787 $29, 000 100, 966 290, 000 11,000 17, 729 1,800 42, 211. 00 4, 459. 20 50, 488. 30 5, 570. 00 20, 640. 20 1,113. 70 40,113 218 28, 831 8,000 16, 999 520 2,127,138.91 49, 616. 70 2, 066, 636. 80 1,159, 612. 50 1, 359, 564. 70 53, 543. 70 Division No. 7.. 5, 956, 513. 91 93, 520 319, 000 227, 916 124, 482.40 94, 681 6, 816,113. 31 42, 774 23, 047 3,801 30, 487 48, 739 31, 682 5,251 4,545 3,721 257, 164. 30 253, 474. 20 107, 573. 65 850, 766. 04 232, 505.10 645, 634. 81 1, 826,523. 34 239, 879. 95 17, 847.08 8, 150. 92 194, 04' 4, 439, 519. 39 North Dakota South Dakota Idaho Montana New Mexico Utah Washington Wyoming Oklahoma Indian Territory Dh7ision No. 8.. 3, 632, 213. 55 26, 070 17,100 2, 070 60, 320 "ii9,'oo6 56, 790 2,140 150 283, 640 - 13, 263 14, 870 2,098 56.132 12^ 265 20, 288 80, 906 9,016 846 2, 612 779. 40 517. 30 341.25 918. 99 022. 60 392. 31 841. 54 327. 95 821.08 360. 42 212, 296 117, 322. 84 U n i t e d States . . |74, 664, 833. 34 93, 335, 600, 3, 469, 000 6, 489, 534 4, 320, 607. 50)13, 629, 284 195, 908, 858. 84 REPORT OF THE COMPTROLLER OF THE CURRENCY, 201 AMOUNT OF EACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS, ETC.—Continued. SEPTEMBER 25, 1891. States, etc. Maine New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut Gold clearinghouse certificates Dollars. Fractional Gold coin. $686, 071. 30 $48, 770 274, 384. 50 25, 790 334, 232. 20 18,110 2, 451, 009. 49 268, 250 3, 414, 499. 35 3, 835,130 419, 431. 90 210,670 1, 526, 844. 90 351, 440 $37, 428 57, 414 30,175 230, 782 63, 776 41, 332 77,653 Silver Treasury cer tificate $90, 391 , 981. 04 71. 550 43,181, 41 45,545 48, 748. 68 490, 108 273, 482. 61 131,608.95 1,481,759 187. 918 83, 205. 28 313, 274 123, 855. 48 $903, 64L 34 472, 319. 91 476, 810.88 3, 713, 632.10 8, 926, 773. 30 942, 557.18 2, 393, 067. 38 Division No. 1.. 9,106, 473. 64 New York New York City . . Albany Brooklyn New Jersey Pennsylvania Philadelphia Pittsburg 3, 226,137. 64 9, 845, 117. 00 3' 348, 577. 00 126, 711. 50 1, 253, 476. 56 4, 307, 482. 36 1, 872, 449. 00 2, 203, 511. 50 *65, 770 ,523, 360 454, 000 392,000 302, 290 487, 960 ,740 515, 580 Division No. 2.. 23,183, 462. 56 42, Delaware Maryland Baltimore District of Columbia . Washington Virginia West Virginia 261, 779 155,216| 19, 700 2,455 152, 978 506, 752 264, 836 119, 402 934.46 567. 49 103.50 268. 53 418. 26 988. 46 583. 55 718. 85 6,675,000,1,483,1181,621 128, 212. 00 14, 980 368, 635. 46 66, 550 596, 612.50 1, 271, 650 117, 559. 50 120, 000 136, 071. 40 1, 234,180 535,150. 34 59. 730 273, 611. 68 15, 340 99, 319 113,452 667, 738 22, 8921 385, 29l| 120, 797 32,132 36, 235 45,342 84,218 2,735 17,946 91,024 24, 683 Division N o . 3.. 2,155, 852. 8 North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville Tennessee 266, 716. 86 66,441.85 237,152. 80 62, 301. 40 221, 738. 50 53, 490. 50 28, 499. 50 187, 836. 50 949, 942. 20 70, 445. 00 536,133. 67 319, 407. 00 538, 586. 50 364, 758. 34 153, 258.10 517, 407.10 150, 864. 35 428, 612. 25 120, 449. 45 135,174. 00 1,186,215.45 2, 019, 723.11 141, 061.30 756, 422. 53 408, 923. 35 , 516. 81 Division No. 4 . . 3, 538, 692. 281 Ohio Cincinnati . Cleveland.. Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee. 2, 801, 760. £ 165, 840 353, 328. 50 747, 450 743, 412. 50 266, 000 2, 261, 623. 30 395, 930 2, 423, 284. 75 407,290 13, 018,145. 50 5, 449, 500 1, 384, 866.09 69, 700 725, 296. 00 38, 000 1, 284, 673.74 45,300 674, 530. 00 170, 000 Division No. 5 . . 25, 670, 921. 24| 7, 755, 010 Iowa Des Moines Minnesota St. Paul Minneapolis Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Omaha Division No. 6.. 13,030 412, 350 178, 640 27, 080 45, 210 26, 660 43,500 176,114.08 29, 437. 74 23. 507. 124i001.38 187,171. 87 249, 155 201, 863. 25 1,250,591! 93,1711 92, 223. 39 37, 310. 00 94, 797 74, 814. 01 61, 831 12,722.02 40,754 3, 595, 653. 94 1, 668,194. 24 1, 095, 585. 50 3, 221, 737*. 68 3, 547,169. 62 20,142,612.75 1,767,768.48 928, 420. 00 1, 553, 625. 75 914, 236. 02 959,164. 74 2, 677, 038, 38, 435, 003. 98 99, 872- 20 9, 522. 35 37, 661. 04 18, 063. 95 23, 045. 65! 35, 253. 16, 771. 70 34, 862. 35 10, 657. 20 63, 423. 52 45, 625. 84 42, 766. 26 111, 52 50, 000 53, 304 227, 210 181,750 42,105 832,430 264, 032 72, 751 134, 639 71,496 52,193 1, 785, 339. 44 190, 636. 35 900, 967. 98 2, 005, 037. 92 874, 054.15 457, 535.18 3, 736,180. 70 1. 658, 092. 85 327, 754. 70 1, 492, 449. 57 991,157. 74 1,902,702. 202 REPORT OF THE COMPTROLLER OF THE CURRENCY. AMOUNT OF KACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS, ETC.—Continued. SEPTEMBER 25, 1831-Contimicd. Gold J Gold I Silver coin. Silver Treas,-, , | „ • Treas- I clearing ! ury cerGold com. j u r y c e r . 'house c e r ! tificates. ! tificates. tificates. j Dollars. Fractional. States, etc. Colorado Nevada California San Francisco Oregon Arizona $1, 88< . 841. 60* 37. 210. 00• 1, 701. 832. 50 1, 026, 225. 00 1, 400. 640. 97 ! 30.130. 00 — Division No, 7 . . G. 097. 880. 07; North Dakota South Dakota Idaho Montana New Mexico Utah Washington Wyoming Oklahoma Indian Territory j ! ! i I ! 185. 07G. 72; 175. 387. 50: 128,630.90 73S 850. 00 145. 850. 00 520 C41. 35 1,55(5 435.60 ! 217 150. 00: j 0. 385. 00 i . G47. 50 Division No. 8.. j 3, 680. 060. 57; $52, 720! $208, (>84 $52, 031. 04 2, 015. 45 98, 455 74, 232. 40 13, 000 23, 200. 00 18,037 34, 693. 98 2, 927 1, 766. 85 • 21, 890! | 4, 2301 ! 78, 840} 1 $35, 000 590, 000 \ j 7 7 0 025, 000 342,873 • 187, 939. 72 25. 801); 19, 400' 2G0 64, 200! P $5: 516 $2, 252, 792. 64 280 19, 925 3, 000 13, 675 41, 275. 45 1,951,334.90 1, 655, 425. 00 1,480,276.95 40, 823. 85 89, 390 7.421,928.79 11,882 20, S57 9,150 48, 915 13, 492 40, 558 71, 538 11, 355 709 5,116 13/713720 10,172. 39 5,211.75 45, 281. 69 6, 343.15 21, 825. 36 53, 877. 93 5^ 883. 65 101. 22 886. 60 41,002 277, 473. 92 39, 712 265, 228. 89 13, 885 157,137. 65 42, 690 939, 936. 69 2, 041 167, 726.15 18,716 709,140. 71 35, 985 1, 775, 416. 53 6, 467 241,051.65 " 720 7, 915. 25 5, 780 17, 430.10 i 233, 272 163,296. 97 206, G98 4, 558, 457. 54 101, 400' 57,581*: 190! ! 2G8, 830! / Total. United States . . '84, 464. 347. 24 60,173, 670; 7, 300, C00 6, 348, 573 4, 818,750. 67 20, 409, 735 183, 515, 075. 91 S E P T E M B E R 30, 1892. Maine New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut $743. 629. 39| $77,870; 318, 934.18 34, 330 367. 132. 50 18,490; 2, 705. 756. 35 228,090 3, 713. 614. 00 4,990,210: 482. 412. 30 197, 120: 230,410 1,622.266.05 Division No. 1 . . 9, 95:5, 3, 475. New York New York C i t y . . . 12,146 312, Albany 130, Brooklyn 318. New Jersey 407, Pennsylvania 102, Philadelphia 682. Pittsburg i 5, 776, 520; $43,077s $47,450.76, $101,324 $1,013,351.15 65,434 48,333.48 81,675 548,705.66 32,795 48,565.19 38,643! 505,625.69 236,327 296,995.631 589,326] 4,056,494.98 C3,39li 128,725.55| 1,864,358 10,760,298.55 29,248 95,906.80! 195,167 999,854.10 82, 265 148, 681. 971 334, 1441 2, 417, 767. 02 i 552,537: 814. 03| 774,700 ! : 00,44, 618 480 ! 50 438,0001 ! 50 462.250 332,690' i 501,920: I 2.109, 380 $7, 730. 0001 661,600 '....! 231,719: 151, 21)0, 11,683; 17,740 156,190 495,726' 313, 277; 135,"" 302,097.15 826.98j 497.O7: 161.45; 339. 99J 759. 75! 144. 33 594. 541 539. 35! Division No. 2 . . 126, 575, 361. 38;49, 899, 020| 7, 730, 0001, 513, 514 1, 793,863.40; 9, 827, 994; 97, 339, 752. 84 Delaware Maryland . . . Baltimon District of Columbia.. Washington Virginia W e s t Virginia 137. 330. 90 11,580: 385, 519. 6G 71, 3201 983, 166. CO 1, 130, 400 3, 847. 00 142, 000! 243. 560. 40 1, 098, 780 62, 000 420, 718. 40 20. 2G0 292, 404. 53 Division No. 3 . . 2,542,340! N o r t h Carolina South Carolina Georgia Florida.. Alabama Mississippi Louisiana .. New Orleans Texas Arkansas Kentucky Louisville Tennessee 459.2 397. 00 270. 80 275. 50 561. 00 597. 90 00 863. 25' 426. 00! 1)92. 50 146, 540 21,480, 54, 930 39, 780 115, 120 Division N o . 4 . . 3, 975, 511. 52J 836,230 20, 690: 34, 845 67, 828! 3, 995! 17, 976 82,215! 37,112 41, 537. 95 45, 902. GO 71, 094.10 3,144.25 33, 284.20 75,014. 28, 806. 55 10, 364 35, 852 80, 786 5,856 88, 908 21,510 41, 580 1,601,183 558, 565 41, 506 85, 353 27, 320 130. 266 1,426, 553, 807. 60 2, 729, 049 REPORT OF THE COMPTROLLER OF THE CURRENCY. 203 AMOUNT OF EACH K I N D OF C O I N AND C O I N C E R T I F I C A T E HELD BY T H E NATIONAL BANKS, ETC.—Continued. SEPTEMBER 30, 1892—Continued. Silver Gold | Gold Silver coin. Treas | clearingT/reasury cer- i house cer- Dollars. Fractional, j tiP at^ tificates, tificater I Gold coin. States, etc. Total. j $329, 524 ! $189, 223. 721 $208, 833j 557, 460[ 94, 767:! 21, 092.15 41, 000 32, 171 22, 970. 00 218, 749 236, •4571 136, 619. 34 849 239, 932 189, 027. 43 284, 223, 114! 188, 982. 90 1, 289, 847 769; 99, 811 89, 904. 61 118, 113,304 48, 841. 05 25, 767! 105,294 73, 426. 66 95, 142]! 9,533 10, 959. 00 9, 323 $2, 922,193. 04 $198,830 ! 539, 215. 00 815,770 I 1, 035, 070. 50 302, 000' 591,150 | 2, 458, 641. 2G 436, 160 | 2, 841, 613. 78 14, 644, 030. 00 5, 969, 880' 60,780' i 1, 400, 258. 38 50,15()! 938, 042. 50 55,420! 1, 507, 862. 29 i 819, 550. 00 125,000! Ohio Cincinnati Cleveland Indiana Illinois Chicago Michigan ". Detroit Wisconsin Milwaukee Division No. 5.. |29,106, 476. 75 Iowa Des Monies Minnesota St. Paul Minneapolis Missouri St. Louis Kansas Citv St. Joseph.. Kansas Nebraska Omaha 1,449,883 971,046.86 2,883,763143,010,309.61 168, 038! 13,330 62, 6761 82, 300| 53, 664 ! 1, 471,192. 70 ; 123, 268. 00 i 854, 245. 45 1,691,711.80 071. 912. 50 314,155.70 1, 319, 193. 00 811, 267. 50 $3, 848,603. 76 2, 028,304.15 1, 433,211.50 3, 641,616. 60 3, 991,582. 21 22,315, 853. 90 1,769, 522.99 1,176; 104. 55 1,837, 144/95 974, 365. 00 127,169 20,272 42,392 17, 786 42, 627 26, 089 22, 704 45,402 7, 726 77,017 59, 647 54, 602 I 173,012.00 ! 1,123,074.05 ! 992, 908. 81 ! 2,025,212.00 Division No. G.. 11, 601, 213. 51 543, 439. 40 2, 125, 788| 17, 860. 916. 91 Colorado "... - \ 2^516, 291. 85 Nevada . . . California. San Francisco Oregon. Arizona- 199,925 1,682 77,040 30, 000 25. 772 3, 245! 19, 940 402,100 3, 020 5, 036. 85 Division No. 7.. ! North Dakota.. South Dakota. . Idaho Montana New Mexico Utah Washington "Wyoming Oklahoma Indian Territory 296, 862. 00 271,733.50 | 164, 863. 40 | 930, 457. 50 : 160, 492. 50 ! 746, 022. 75 [; 1,744,552.10 ] | Division No. 8 . . 303, 330. 35 20, 307. 00 12, 537. 50 4, 651,158.' 22, 950 . 10, G20 1,230 71,810 4,860 73,910 49,570 360 460i 1,84C| 237,610! 19, 852 28. 457 9,906 61, 270 20, 884 41,159 78, 160 17, 513 6,469 4,611 23, 244.85 17, 031.04 9, 816.13 57, 349.65 8, 788.33 27, 066. 03 60, 455.45 8, 592.67 1,478. 70 2, 611.35 288,281| 216,434.20; 384, 665. 85 21, 757 28, 559 356, 400. 51 6,920 192, 735. 53 46,194 1,167,081.15 1,032 196. 056. 83 17, 874 •906, 031. 78 58, 323 1, 991, 060. 55 3. 412 333, 208. 02 8,804 37, 518. 70 9,633 31, 232. 85 202,508j 5,595,991.80 U n i t e d S t a t e s . . |05, 021, 952. 77J71,050,180 7, 860, 000 6, 785, 084^5, 405, 710. 92 22, 993, 451 209,116, 378. 69 OCTOBEll 3, 1893. Maine New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut I j { ! $39, 040 " $842, 423. 72 29, 610 320, 892. 77 25, 250 447, 681. 75 2. 905, 423. 46 192, 640 5, 389, 926. 00 2, 009, 540 666, 906. 50 124,740 399, 220 1, 879, 951.13 $55,197j $57, 070.41 78.704 56, 768. 07 70J 613 464, 619 112, 772 84,1231 115,100 Division No. l.i 12,453,205.33 2, 820, 040 New York New York City . Albany Brooklyn New Jersey Pennsylvania Philadelphia.... Pittsburg : I 2, 757, 432 981,12811. 651,! 32. 403, 940 305, 500 202, 200 321, 550 594, 930| 545, 920 $5, 075, 000 321,860 Division No. 2. 54, 851, 097.74 35, 347, 55, 398, ' 165, 131, 158, 390.172 248, 996 28, 965 29, 400 179, 012 736, 307 331, 899 171.173 $120, 658 $1,114, 38?. 13 99, 076 585, 050. 84 837. 66 44, ( 643, 991. 41 723. 97 559,546 4, 520, 952. 43 428. 60 2,275,122 9, 952, 788. 60 248. 30 188, 449 1,195, 466. 80 343, 726 2, 896, 699. 23 702.10 3,631,186 20, 909, 338. 44 607, 339 962, 407 84' 2,239,369 35! 626,476 6,152,153.17 75, 703, 063. SO 715, 243. 35 799, 383. 02 3, 229, 653. 65 8, 733, 577. 88 11,127, 420. 34 4, 012, 840. 34 o, 075, 000 2,115, 92; 2, 002, 725. 9111, 080, 728 110, 473, 335. 65 204 REPORT OF THE COMPTROLLER OF THE CURRENCY. AMOUNT OF EACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS, ETC.—Continued. OCTOBER 3, 1893-Continued. Gold coin. States, etc. Delaware Maryland Baltimore District of Columbia. Washington City Virginia "West Virginia Division o. North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville Tennessee 3. Gold Gold Silver Silver coin. Treas- clearingTreasury cer- house cerury certificates. tificates. Dollars. Fractional. tificates. $211 816.20 $13,000 . 355 314.06 73,480|. 993. 039. 00 911,850 100. 001. 50 92,000 240. 777. 40 631, 540 515. 262. 50 28,380 397,572. 43 35,870 2, 831. 783. 09. 1, 786,120 $36, 436 $38, 287. 57 $115, 631 31, 562 49,117. 71 206, 402 67, 800 95, 295. 70 872, 817 2,965 7, 035. 00 26,626 14,705 23, 939. 00 478,887 104,431 80, 296. 06 217,004 42,105 33, 751.17 83, 685 $415,170. 77 715, 875. 77 2, 940, 801. 70 237, 627. 50 1,398,848.40 945,373.56 592,983. 60 300,004 327,722.21 2, 001, 052 7, 246, 681. 30 44,683.06 31, 425. 40 46, 837. 65 19, 796. 40 27, 363. 95 14, 938.13 12,765.35 72,071.21 116, 656. 26 13,902. 50 36, 469. 95 15, 354. 86 79,123. 70 373, 454. 06 263, 093. 90 467, 897. i5 253, 297. 25 495, 255. 95 138, 963.13 133, 797. 85 1,179, 603. 21 3, 498, 977. 26 210, 503. 60 784, 355. 70 51"" 062. 86 1,474. 964. 70 Division No. 4. Ohio Cincinnati Cleveland Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee Division No. 5 Iowa Des Moines Minnesota St. Paul Minneapolis Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Lincoln Omaha 380, 421 63, 852 82, 686 27,000 274,939 30, 421, 006. 93 5, 547, 800; 1, 956, 792. 50 83, K07. 50 1, 257, •; 39. 70 1, 908. 036. 50 887, 000. 00 356, 081. 50 1, 756, 230. 50 959, 705. 00 280,118. 50 1, 373, 733. 54 936,728.36 232. 505. 00 1,436, 160.00 Division No. 7. 1, 799,148 1,347, 858. 09! 7,449, 540| 46, 565, 353. 02 121,980 ! 3, 500 9, 000 18. 500 10, 13, 772, 59, 13, 61, 11, 000 320 820 220 200 840 200 28,500 1,123, 080 83, 250 4,260 25, 000 90 500 113,100 10,800 9,350 450 11,410 5, 450 75,180 55, 620 ""i'ioo 3, 607, 8D0. 90 9, 850, 226. 62 4, 816,757. 27 1, 640,406. 90 1, 692,028. 50 4, 335,884. 01 4,176, 615. 05 22, 771,923. 25 2, 241,172. 24 971, 071.38 2, 329,637. 32 1, 589,857.10 3, 832, 540. 61 755, J40.00 1, 250, J02. 50 3,598, 701. 82 3,122. 530. 83 12,013, •>00.00 1, 741. 785. 07 828. 852. 50 1, 978. 276.10 1, 299. (577. 50 North Dakota South Dakota Idaho Montana New Mexico Utah Washington Wyoming Oklahoma Indian Territory... Division No. 8. 18, 883 18, 099 83, 556 26, 084 64, 894 8,095 38,399 741, 024 531, 385. 42 1,827,932 Division No. 6. 13, 425, 038. 60 Colorado Nevada California San Erancisco... Oregon Arizona Total. 170, 440 5, 000 5,000 257,534 7, 916 18, 264 6, 446 86, 579 24, 21, 616 65, 977! 10, 161 7, 378 9, 999 258,723 183. 53 281. 00 473. 66 890. 00 766.18 384.90 45,426 205 21, 822 1,500 21, 290 1,700 656,418. 68 53,476. 00 873, 065.16 082, 260. 00 523, 649. 43 119, 754. 40 173, 979. 27 91,943 7, 308, 623. 67 12, 408. 20 12.511.80 4, 615. 69 33, 459. 20 11, 551. 85 20, 232. 95 41,145. 95 8, 383. 55 1, 601. 00 3, 092. 35 149,002.54 269, 208. 40 364, 604. 30 227, 930. 59 949, 60"7. 90 191. 868. 85 775. 915.45 , 277i 366. 55 218, 873. 05 74, 321. 00 63, 541. 35 227,181 4,413,237.44 129T74o74::87T9|47, 522, 510 5, 080, 000|7, 965, 844 6, 009,178. 88 28, 385, 889J224, 703, 860. 07 United States. REPORT OF THE COMPTROLLER OF THE CURRENCY. 2 0 5 AMOUNT OF EACH KIND OF COIN AND COIN CERTIFICATE HELD BY THE NATIONAL BANKS, ETC.—Continued. OCTOBER 2, 1894. States, etc. Gold coin. Maine New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut Gold Gold Silver coin. Silver Treas- clearingTreasury cer- house ceru r y certificates. tificates. Dollars. F r a c t i o n a l . tificates. Total. $40,600 30,400 22, 800 223, 780 2, 068, 840 115,470 385,560 149,138.64 585, 551.26 621, 213. 82 741, 046. 53 059,178.16 033, 622. 70 864, 541. 96 Division No. 1.. 13, 977, 787. 84 2, 887, 450 New York New York City . . Albany Brooklyn New Jersey Pennsylvania Philadelphia Pittsburg 4, 302, 972. 45 654, 710 $45, 000 654,710 25, 251,151. 00 24,:,377,160 377, 25, 965, 000 406, 012. 50 331, 000 151, 385. 50 219, 600 1, 633, 657.10 33», 000 5, 685, 500. 58 557,030 1,905,828.50 247,910 8,045,000 247,910 3,414,862.50 -----' 369,030 Division No. 2.-42, 751, 370.13 27, 095,440 34, 055, 0001, Delaware 172, 828. 45 Maryland 387,129. 31 Baltimore 1, 247', 500. 50 District of Columbia 121, 733. 00 Washington City. 347, 381. 00 Virginia 451, 320. 00 375, 612. 58 West Virginia $43,132 65, 065 24, 716 269, 654 75, 878 37, 4051 68,681 $55, 553. 69 $112, 583 96, 519 44,181. 65 -,6, 836. 57 48, 524 348, 372. 92 707, 574 108, 067. 66 2, 273, 005 81, 542. 22 189, 649 584, 531 827, 733. 23 3, 776, 791 22, 054, 293. 07 245, 703; 207, 251 j 16, 007 13,310 110,760 515,3771 274,461 211,185 334, 355. 06 464, 728 6, 047, 468. 51 451, 600. 80 6, 545, 678 82, 797, 840.80 10, 665. 90 17, 527 781, 212. 40 47, 981. 05| 355, 362 787, 638. 55 199, 480.18 731.615 3,014,512.28 412,381.46 1, 095, 095 8. 265, 384. 04 300, 545. 41 3, 858, 363! 14, 632,107. 91 140, 204. 20 608,297 4,743,578.70 86, 586; 327, 478. 50 198, 564 722, 243. 06 ,079,927 :, 336,873.27 31, 606 261, 458.00 440,817 , 499, 379.10 278,161 b75, 654. 35 71, 605 551,113. 21 741.65 2,187, 266 7, 574,199.49 321,914.50 105, 342. 50 260, 971. 00 70, 946. 05 346, 538. 50 56, 963. 00 46, 898. 50 372, 743. 00 1, 259,109.15 59, 562. 25 5D5, 602. 70 454, 970. 00 716, 000. 00 1, 110 1, 860 7, 5501 11, 480 50, 020 3, 070 2, 060 133, 410 186, 840 Division No. 4 . . 4, 577, 561.15 536, 520 1,189,357 3, 903, 237. 22 197, 670 854, 535. 00 266, 710 1, 308, 909. 50 257, 000 3, 624, 676.16 175, 840 2,927,933.31 326, 780 18,976,863.40 2, 972,480 1, 498, 506. 61 52, 200 1,176, 867. 50 14, 500 1,619,838. '• 34, 260 1, 879, 030. 00 125, 000 284, 018 57 325 50] 304 204, 904 235, 360 250, 306 107,161 25,602 82, 525 26, 994 Ohio Cincinnati Cleveland.... Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee 600 34, 670 5, 000 850 Division No. S.- 37,770,397.30 4, 422, 440 Des Moines Minnesota St. Paul Minneapolis Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Lincoln Omaha 593. 65 850. 00 950, 466. 88 1,912, 816. 21 929, 025. 00 315, 654.75 1.342, 731. 50 1, 277,345.00 227, 767.50 1,124, 671. 77 739, 355. 20 248, 097. 50 1, 353,697.50 Division No. 6.. 12, 309, 072.46 140, 840 13, 10. 20, 12, 507, 82, 33, 500 . 880,860 348, 937 594, 054 1, 897, 214. 06 13, 676, 665 121, 069, 743.19 16, 0001 50, 790 885, 000 102, 000 670, 680 22,140 37,910 Division No. 3 . . 3,103, 504. 84 1, 784, 520 North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville Tennessee 143,178.52 47, 433] 52, 872. 90 75, 480j 29, 598. 30 76, 230[ 49, 610, 84, 583; 23, 423. 55 92, 338| 22, 231. 90 22, 542; 11,021.30 25, 996| 15, 233. 60 35, 889| 79, 996. 45 495, 565' 110, 857. 99 21, 724 19, 709. 70 64, 292 40, 090. 84 8, 802. 71 22,400 124, 885! 60, 344. 40, 965 17, 915 124, 953 25, 839 83, 741 32,454 44,719 902,101 851, 226 33, 525| 87, 22! 229,461 523,794.99 2,474,127 9, 301, 360.14 195, 314. 38i 294, 312 14, 637. 25 565, 697| 62, 500 49, 398. 62 115, 040. 02 268, 436 176, 538. 24 334, 387 434, 846.55 2, 2] 0,988 92, 031.191 117,126 23,190. 20 51,154 66, 264. 25 114, 7' 22,137. 00! 51, 333 1,324,499 1.189,397.70: 4,070,709 48,777,443.00 750,075 29, 71i 53,123 38, 520 38, 883 44, 047i 24,715 52,120 15, 598 126, 883 57, 821 19,581 73,194 89, 922. 150, 7441 9, 250 17, 903. 53, 766 43, 924. 50, 621 15, 523. 42, 219 22, 007. 56, 186 22, 804. 23,881. 55 1,250, 284! 28, 515.35| 173! 210 11, 599.60 109! 234 71, 390. 143 660 34. 014. 66, 741 6, 680. 41, 323. 118, 724,27lj 429,491.10(2,224,883 16, 68,577.56 206 REPORT OF THE COMPTROLLER OF THE CURRENCY. AMOUNT OF EACH K I N D OF C O I N AND C O I N C E R T I F I C A T E H E L D B Y T H E NATIONAL BANKS, E T C . — C o n t i n u e d . OCTOBEK 2, 1894. States, etc. Colorado Nevada California San Francisco Oregon Arizona Gold coin. Silver coin. Gold Gold Silver Treas- clearingTreasury cer- house cer- Dollars. I Fractional. ury certificates. tificates. tificates. $128, 548 2,764 67, 814 13, 200 17, 843 6,723 $52, 936. 65 3,190. 25 80, 204. 04 17, 999. 23 20, 893. 47 4, 494. 05 $58, 384 $3, 405, 823. 20 680 45, 959. 25 68, 946 1,815,114.04 4,820 • 1,367,901.73 36, 466 1,274,032.47 4,136 109, 453. 05 236, 892 179, 717. 69| 173, 432 8, 018, 283. 74 17,200 6,320 1, 800 9,000 6, 590 51, 710 21, f" C, 026 20, 012 5,773 95, 204 11, 287 9,199 36, 379 11, 586 8,101 9,016 6, 271.45 13, 042.99 4, 444. 85 33, 284.93 5, 946. 60 10, 294. 74 38, 966.40 7, 978. 75 3, 045. 95 2, 805. 50 15, 705 27,178 25, 286 42,9731 3, 257 3, 834! 27, 632! 12, 041| 6, 6731 36, 445 287, 909. 75 352, 209. 99 235, 350. 85 , 069, 584. 63 117,590.60 418, 851. 94 , 042, 507. 85 235, 275. 75 50,441.45 77, 031. 50 114,550 j 212,583 120, 082.16 201;024J 3,886,754.31 $3, 085, 734. 55 39,325.00 1, 550, 710. 00; 1,331.882.50! 1,198,830.00 91,600.00 $80, 220: Division No. 7.. 7,298. 082. 051 89,160 North Dakota Soutli Dakota Idaho Montana New Mexico Utah Washington Wyoming Oklahoma Indian Territory 242.707.30! 285 657. OOjj 198 047. 00!! 889. 122.70! 90. 510. 00; 343. 8] 4. 201 917, 680. 45i 203. 590. 00! 32. 621. 501 28. 765. 00 Division No. 8.. 3,232,515.15; Total. G, 440 $41,000 2,500 41, 000 United S t a t e s . . 125,020,290.92 37, 810,040 34, 096, 000 6,116, 354 5, 422,172. 58 28, 784, 897;237, 250, 654. 50 EEPORT OF THE COMPTROLLER OF THE CURRENCY. 207 STATEMENT EXHIBITING, BY STATES, TERRITORIES, AND RESERVE CITIES, THE AMOUNT OF COIN AND COIN CERTIFICATES HELD BY THE NATIONAL BANKS ON OCTOBER 2,1890, SEPTEMBER 25,1891, SEPTEMBER 30, 1892, OCTOBER 3,1893, AND OCTOBER 2,1894. October 2, 1890. States, etc. Maine. New Hampshire \ r ermont Massachusetts Boston Rhode Island . Connecticut Division No. 1 Xew York New York City Albair auy . Brooklyn 'New Jersey Pennsylvania Philadelphia Pittsburg Division No. 2 Delaware Maryland Baltimore District of Columbia Washington... Virginia W e s t Virginia Division No. 3 ; September 25,' September 30, i 1891. 1892. $799, 856. 22 433, 793.46 424, G34. 63 3, 552, 645. 97 11,358,610.51 817,032.96 I 2,178,131. 91 j 19,565,305.66 | 17,828,802.09 October 2, 1894. $1,114,389.13 $1,149,138.64 585, 050. 84 585.551.26 643," 991. 41 C21» 213. 82 4, 520, 952. 43 4, 741, 046. 53 9, 952, 788. 60 11, 059,178.16 1,195, 466. 80 1, 033, 622. 70 2, 896, 699. 23 2, 864, 541. 96 20, 302, 097.15 20,909,338.44 i 4, 510, 675. 88 i 78, 459, 940. 03 966, 921. 25 944, 035. 20 2, 208, 314. 58 5, 017, 917. 28 9, 553, 729. 81 3, 218, 761. 65 22,054,293.07 6, 047, 468. 51 82, 797, 840. 80 781, 212. 40 787, 638. 55 3, 014, 512. 28 8, 265, 384. 04 14, 632,107. 91 4, 743, 578. 70 \ 105, 480, 295. C8 j 84, 640, 739. 66 97, 339, 752. 84 110, 473, 335. 05 121, 069, 743.19 \ 305,609.25 J 310, 504.45 572, 328. 66 614, 295. 55 j • 3. 224, 585. 8S I 2, 680, 005. 31) 210,488.25 I 265, 338. 25 ! j 1,588,078.05 J 1, 796, 155.70 656, 781. 80 i 874, 422.64 ! 339,009.45 | 370, 126.40 • j 0,926,941.34 335, 271. 85 699. 042. 26 3,194; 382.10 281,498.25 1, 766, 310. 60 775, 260.48 474, 989. 08 6,940,848.47 364, 758. 34 153, 258.10 517, 407.10 150, 864. 35 428, 612.25 120, 449.45 135, 174. 00 1,186. 215. 45 2, 019, 723.11 141, 061. 30 756, 422. 53 408, 923. 35 981, 516. 81 N o r t h Carolina.. South Carolina.. Georgia Florida Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville Tennessee 464, 230, 519, 216, 594, 126, 134, 1,524, 2,903, 135, 731, 491, 1, 229, 7, 364, 386.14 Division No. 4 Ohio Cincinnati Cleveland Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee $903, 641. 34 $1,013,351.15 548, 705. 66 472, 319. 91 505, 625. 69 476, 810. 88 3, 713, 632.10 4, 056, 494. 98 8, 926, 773. 30 10, 760, 298. 55 939, 854.10 942, 557.18 2, 393, 067. 38 2,417,767.02 October 3, 1893. I 3,105, 257. 59 ! 1, 020, 279.49 ! 1, 026, 473. 75 I 2,580,612.93 ! 2, 559, 343.18 | 17, 006, 659. 22 1, 487, 303. 89 Division No. 5 1, 075, 888. 55 1, 120, 286. 78 879, 659. 00 653. 94 3, 848,603. 76 194. 24 2, 028,304.15 585. 50 1, 433,211. 50 737.68 3, 641,616. 60 169.62 3, 991,582. 21 612. 75 22, 315,853. 90 768. 48 1, 769,522. 99 420. 00 1,176, 104. 55 625. 75 1, 837,144. 95 236. 02 974, 365. 00 551. 60 904.25 112.12 896.18 4, 000,998. 55 24, 845,483. 95 1, 867,024. 80 1, 291,313. 70 1,917, 663. 85 2,104, 494. 00 46, 565, 353. 02 48, 777, 443. 00 Iowa Des Moines Minnesota St. P a u l Minneapolis Missouri St. Louis K a n s a s City St. Joseph Kansas Nebraska Omaha Lincoln Division No. 6 2, 338,175. 58 137, 714. 50 1,115,130. 47 2, 028,100. 86 1, 052,134. 35 451,412.09 3,148, 902. 05 1,613,310.35 374,159.10 1,508,135.22 906, 301. 50 1, 620, 082. 74 274, 358. 75 17,937,003.93 16,508,577.56 208 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT EXHIBITING, BY STATES, TERRITORIES, AND RESERVE CITIES, THE AMOUNT OF COIN AND COIN CERTIFICATES, ETC.—Continued. October 2, 1890. States, etc. Colorado Nevada California San Francisco Oregon Arizona October 3, 1893. October 2, 1894. $2,127,138. 91 $2, 252, 792. 64 $3, 011, 783. 09 $2, 656, 418. 68 $3,405,823.20 49, 616. 70 41,275.45 48, 694. 30 53, 476. 00 45,959.25 2, 066, 636. 80 1, 951, 334. 90 1, 832, 505. 79 1, 873, 065.16 1, 815,114. 04 1,159,612.50 1, 655, 425. 00 1, 589,170. 00 1, 082, 260. 00 1, 367, 901. 73 1, 359, 564. 70 1, 480, 276. 95 1,394,014.61 1, 523, 649. 43 1, 274, 032.47 53, 543. 70 40, 823. 85 77, 091. 85 119, 754. 40 109,453.05 Division No. 7 North Dakota South Dakota Idaho jMontana . . . . New Mexico Utah Washington Wyoming Oklahoma Indian Territorv September 25, September 30, 1891. 1892. . . Division No. 8 United States 6,816,113.31 7, 421, 928. 79 7, 953, 259. 64 7, 308, 623. 67 8, 018, 283. 74 257,164. 30 253, 474. 20 107, 573. 65 850, 766. 04 232,505.10 645, 634. 81 1, 826, 523. 34 239, 879. 95 17, 847. 08 8,150. 92 277, 473. 92 265, 228. 89 157,137. 65 939, 936. 69 167, 726.15 709,140.71 1, 775, 416. 53 241, 051. 65 7,915.25 17, 430.10 384, 665. 85 356, 400. 54 192, 735. 53 1,167, 081.15 196, 056. 83 906, 031. 78 1, 991, 060. 55 333, 208. 02 37, 518. 70 31, 232. 85 269, 208.40 364, 604. 30 227, 930. 59 949, 607. 90 191, 868. 85 775, 915. 45 1, 277, 366. 55 218, 873. 05 74, 321. 00 63, 541. 35 287, 909. 75 352, 209. 99 235, 350.85 1, 069, 584. 63 117, 590. 60 418, 851. 94 1,042, 507. 85 235, 275.75 50, 441.45 77, 031.50 4, 558, 519. 39 4, 558,457. 54 5, 595, 991. 80 4,413, 237.44 3, 886, 754.31 195, 908, 858. 84 183, 515, 075. 91 209,116, 378. 69 224, 703, 860. 07 237, 250, 654.50 REPORT OF THE COMPTROLLER OF THE CURRENCY. 209 TABLE EXHIBITING THE DEPOSITS AND RESERVE OF NATIONAL BANKS ON OR ABOUT OCTOBER 1 OF EACH YEAR, FROM 1874 TO 1894, IN EACH CENTRAL RESERVE CITY, IN ALL OTHER RESERVE CITIES, IN THE STATES AND TERRITORIES, AND A SIMILAR STATEMENT WITH RESPECT TO ALL NATIONAL BANKS. NEW YORK CITY. Classification of reserve. Reserve held. Keserve ^"o.of ^sTet de- req uired Eatio to Specie. Other law- Due from Redemp(25 per banks. posits. ful money. agents. tion fund. cent) .* Amount. deposits. Date. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Sept. Oct. Oct. Oct. Oct. Sept. Oct. Sept, Sept. Oct. Oct. 2,1874 1,1875 2, 1876 1,1877 1,1878 2,1879 1,1880 1,1881 3,1882 2,1883 30,1884 1,1885 7,1886 5,1887 4,1888 30.1889 2,1890 25,1891 30,1892 3,1893 2,1894 48 48 47 47 47 47 47 48 50 48 44 44 45 47 46 45 47 49 48 49 49 Average for 21 y e a r s . . 47 Millions. Millions. Millions. Per cent. Millions. 14.4 33.4 68.3 51.2 204.6 5.0 29.9 60.5 50.7 202.3 14.6 30.7 60.7 49.5 197.9 13.0 27.5 48.1 43.7 174.9 13.3 26.8 50.9 47.4 189.8 19.4 25.3 53.1 52.6 210.2 58.7 26.4 70.6 67.0 268.1 50.6 23.3 62.5 67.2 268.8 44.5 25.4 64.4 63.5 254.0 50.3 26.5 70.8 66.7 266.9 63.1 35.6 90.8 63.7 255.0 91.5 37.0 115.7 78.2 312.9 64.1 27.2 77.0 70.7 282.8 63.6 28.2 80.1 71.1 284.3 73.9 28.2 96.4 85.5 342.2 59.1 25.1 84.9 84.5 338.2 78.4 27.8 92.5 83.2 332.6 53.8 26.3 86.1 81.9 327. 8 62.6 26.4 103.4 97.9 391.9 75.7 35.1 109.0 77.5 309.9 82.8 35.2 172.4 122.4 489.7 70.3 283.2 81.8 28.9 Millions. Millioyis. Millions. 52.4 1.5 54.4 1.1 45.3 0.8 34.30.8 36.5 1.1 32.6 1.1 11.0 0.9 10. 9 1.0 18.9 1.0 19.7 0.9 27.0 0.7 23.7 0.5 12.5 0.4 16.1 0.4 22 1 0.3 25.6 0.2 13.9 0.2 32.0 0.3 40.5 0.3 32.5 0.8 88.9 0.7 50.1 31.0 0.7 12.9 13.1 15.3 17.0 20.1 22.4 22.8 24.9 6.7 7.8 9.6 7.8 11.0 8.1 16.2 9.1 0.05 0.05 O.05 0.05 0.05 0.05 0.05 0.07 1.3 1.0 1.6 3.1 3.8 4.6 3.7 3.1 1.3 1.1 1.6 2.5 2.0 1.5 2.0 3.2 0.03 0.02 0.01 0.02 0.02 0.02 0.02 0.02 * All lawful money. CHICAGO. Oct. 5,1887 Oct. 5,1888 Sept. 30,1889 Oct. 2,1890 Sept. 25, 3891 Sept. 30,1892 ~ ' 3,1893 Oct. Oct. 2,1894 18 39 20 19 21 23 21 21 64.0 69.3 78.7 82.9 92.9 106.5 85.8 101.4 16.2 17.3 19.7 20.7 23.2 26.6 21.4 25.4 19.7 21.0 25.0 24.8 31.2 30.5 39.0 34.0 30.5 30.2 31.7 30.0 33.6 28. 6 45.4 33.5 ST. LOUIS. Oct. 5,1887 Oct. 4,1888 Sept. 30,1889 Oct. 2,1890 Sept, 25, 1891 Sept. 30,1892 Oct. 3,1893 Oct. 2,1894 8182 5 4 5 8 9 9 9 9 10.3 7.9 12.0 26.2 24.2 29.2 17.9 26.0 CUR- 2.6 2.0 3.0 6.5 6.1 7.3 4.5 6.5 -14 2.7 2.1 3.2 5.6 5.8 6.1 5.7 6.3 26.4 27.0 26.7 21.3 23.8 21.1 31.9 24.5 210 REPORT OF THE COMPTROLLER OF THE CURRENCY. TAISLE E X H I B I T I N G TUI: D E P O S I T S AND R E S E R V E FROM 1874 TO 1894, ETC.—Cont'd. RESERVE CITIES.* Date. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Sept. Oct. Oct. Oct. Oct. Sept, Oct. Sept. Sept. Oct. Oct. Classification of reserve. Reser\ e held. Reserve 'Net de- required Ratio to Other law Due from Redempbanks. pO;5 t s . (25 per Amount. deposits. Specie. fill money. agents. tion fund. cent). 182 2,1874 188 1,1875 2,1876 • 189 188 1,1877 184 1,1878 181 2,1879 184 1,1880 189 1,1881 193 3,1882 200 2,1883 203 30,1884 203 1, 1885 7,1886 223 5,1887 224 4,1888 228 30,1880 259 2,1890 265 25,1891 263 30,1892 268 3,1893 265 2, 1894 Millions. Millions. 221.4 55.3 223. 9 56.0 217.0 54.2 204.1 51.0 199. 9 50.0 288. 8 57.2 280. 4 72.4 335. 4 83.9 318.8 79.7 32;:. 9 81.0 307. 9 77. 0 364. 5 91.1 3^>J . 5 95. 4 338, 5 84.6 384^9 96.2 419. 0 104.8 457. 8 114.4 451.9 113.0 519.3 129.8 392. 6 98.1 525 4 131. 3 Millions. Per cent. Millions. Millions. Millions. Millions. 34.3 4.5 3.7 76.0 36.7 31.1 33.3 3.6 1.5 74.5 37.1 32. 3 35.1 4.0 3.0 76.1 37.1 32.0 33.0 5.6 3.0 67.3 34.3 24.4 35.6 9.4 3.2 71.1 29.4 29. 1 3.5 83.5 ' 36.5 11.3 33.0 35.7 36.2 3.7 105.2 28. 3 25.0 48.2 30.0 3.7 100.8 34*6 21.9 40.6 28.0 3.5 89.1 28.3 24.1 33.2 31.1 3.4 100. 6 26.3 30.1 40.8 32.2 3.1 99.0 30.3 33.3 32.3 33.5 2.9 122. 2 42.0 34.9 42.4 29.9 | 2.2 114.0 44.5 26.0 41.3 29.7 1.2 , 100.7 36. 3 23. 2 40.0 30.4 0.9 1 116.9 40.0 24! 5 51.5 29.1 0.G 121.9 37.8 26.7 56.7 28.3 0.7 129.8 43.1 24.9 61.0 30.7 0.8 138. 8 45.5 31.5 61.0 CO. 1 1.0 156. 1 53.1 29.0 73.0 35.1 1.6 129.6 46.6 29.8 51.6 32.9 ! 1.5 ; 172.8 54.2 29.9 87.2 * Includes Chicago and St. Louis up to October 5 1887. STATES AXD TERRITORIES.! Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Sept. Oct. Oct. Oct. Oct. Sept. Oct. Sept. Sept, Oct. Oct. 2,1874 1,1875 2,1876 1,1877 1.1878 2.1879 1.1880 1.1881 3.1882 2.1883 30,1884 1.1885 7.1886 5.1887 4.1888 30,1889 2,1890 25.1891 30.1892 3,1893 2, 1894 1,774 1, 851 1,853 1, 845 1,822 1, 820 1,859 1,895 2,020 2,253 2,417 2, 467 2. 590 2,756 2, 847 2,992 3, 207 3, 333 3, 430 3, 434 3, 411 293. 4 307. 9 291. 7 290.1 289.1 329. 9 410. 5 507. 2 545. 8 577. 9 535.8 570.8 637. G 690.6 739. 2 807. G 859. 2 861. 3 975. .-> 767. "> 876. 7 44.0 46.3 43. 8 43.6 43.4 49.5 61.6 76.1 81.9 86.7 I 80.4 85.6 95.6 103.6 I 110.9 121.1 128.9 129.3 146.3 115. 1 131.5 100.6 100.1 99.9 95.4 106.1 124.3 147.2 158.3 150.4 157.5 156.3 177. 5 186.2 190.9 209.8 224. 6 225. 5 235. 5 274.8 230.6 274.9 34.3 32.5 34.3 32.9 36.7 37.7 35.8 31.2 27.5 27.2 29.2 31.1 29.2 27.6 28.4 27.8 26.2 27.3 28.2 30.0 31.4 2.4 1.6 2.7 4.2 8.0 11.5 21.2 27.5 30.0 31.2 35.2 41.5 •47.8 50.8 50.2 50.5 54.3 60.3 66.6 75.9 72.3 I 33.7 33.7 31.0 31.0 31.1. 30.3 28.3 27.1 30.0 30.8 30.9 29.9 30.1 32.6 34.5 36.2 37.7 36.8 38.9 41.2 34.5 52. 7 53.3 55.4 48.9 56.0 71.3 86.4 92.4 80.1 84.1 79.7 95.9 99.5 100.9 119.0 132.4 128.5 133.0 163.5 106. 9 161.6 122. 8 125.2 113.4 100.2 97.0 95.9 64.3 59.9 72.0 80.6 91.2 88.5 68.7 79.9 90.1 99.7 86.8 113. 3 118.3 121. 7 165. 6 83.8 85.6 87.4 73.3 85.1 107.0 134. 6 133.0 113.3 124.9 112.0 1 °8 3 140^8 140.9 170.5 189.1 189.5 194.0 236.4 158. 5 248.8 11. 9 11.6 10.8 10.7 11.0 11.2 11.3 11.4 11.3 11.3 10.5 10.2 8.7 6.6 6.2 5.5 5.2 5.4 5.8 6.6 6.5 f Reserve 15 per cent, two-fifths in lawful money. SUMMARY. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Oct. Sept, Oct. Oct. Oct. Oct. Sept. Oct. Sept, Sept. Oct. Oct. 2,1874 1.1875 2,1876 1,1877 1,1878 % 1879 1,1880 1,1881 3,1882 2,1883 30,1884 1,1885 7,1886 5,1887 4,1888 30,1889 2. 1890 25.1891 30,1892 3,1893 2,1894 2,004 I 719. f> 2,087 j 734.1 2, 089 I 706. V) 2, 080 i 669.1 2,053 ! 678.8 2, 048 I 768. 9 2, 090 ! 968. 0 2,132 1, 111. 6 2,269 1,118.6 2, 501 1,168.7 2,664 I 1, 098. 7 2, 714 I1, 248. 2 2, 852 1, 301. 8 3,049 1 1, 388. 4 3,140 I 1, 543. 6 3,290 !1,655.5 3,540 ;1,758.7 3,677 i 1,758.6 3,773 2, 022. 5 3,781 ! 1, 573. 7 3, 755 2,019.2 150.1 244.9 152.2 235.1 147.5 i 236.7 138.3 ; 210.8 140.8 I 159.3 I 201. 0 ! 227.2 ! 225.1 i 234.4 | 221.1 1 254.9 I 261.7 : 278.0 311.9 333.1 353. 7 353.5 408.1 316.0 417.1 228.1 260.9 323.0 321.6 303. 9 328.9 346.1 415.4 377. 2 394. 2 446.2 459.6 478.2 497.4 570.9 513. 9 060.4 34.0 I 32.0 ! 33.5 I 31.5 ! 33.6 j 33.9 33.4 28.9 27.2 28.1 31.6 33.3 29.0 28.4 28.9 27.8 27.2 28.3 28.2 32.6 32.7 21.3 8.1 21.3 22.8 30.7 42. 2 108^2 112.7 102.8 107.8 128.6 175.0 156.4 165.1 178.1 164.3 195.9 183.5 209.1 224.7 237. 3 17.1 16.3 14.6 14.5 15.3 15.8 15.9 16.1 15.8 15.6 14.3 13.6 11.4 8.3 7.6 6.4 6.1 6.6 7.1 9.0 8.7 212 REPORT OF THE COMPTROLLER OF THE CURRENCY. LAWFUL MONEY RESERVE OF THE NATIONAL BANKS, AS SHOWN BY THEIR Deposits. 1 2 N e w York City Chicago St. Louis Total of central reserve c i t i e s . . . . Boston Albany Brooklyn Philadelphia Pittsburg Baltimore WavShington ISTew Orleans Louisville Cincinnati Cleveland Detroit Milwaukee Des Moines St. Paul Minneapolis Kansas City St. J oseph Lincoln Omaha San Francisco Total of other reserve cities Total of all reserve cities l 2 3 4 5 6 7 8 9 10 I Maine New Hampshire Vermont Massachusetts Khode Island Connecticut New \ r ork New Jersey Pennsylvania Delaware n Maryland 12 District of Columbia 13 Virginia 14 West Virginia 15 North Carolina 16 South Carolina 17 Georgia 18 Florida 19 Alabama 20 Mississippi 21 Louisiana 22 Texas 23 A rkansas 24 j Kentucky 25 Tennessee 26 ! Ohio 27 Indiana 28 Illinois 29 Michigan 30 Wisconsin 31 Iowa 32 Minnesota 33 Missouri 34 Kansas 35 Nebraska 36 Colorado 37 Nevada 38 California 39 Oregon 40 Arizona *. 41 North Dakota 42 South Dakota 43 Idaho 44 Montana 45 Washington 46 Utah 47 New Mexico 48 Wyoming 49 Oklahoma 50 Indian Territory Total of country banks Total of United States lie serve required, 25 per cent. lie serve held. 49 $489, 747, 626 $122, 436, 907 $172, 400, 626 21 ! 101,415,120 25, 353, 780 33, 973, 093 6, 498, 934 6, 383. 201 9 i 25, 995, 738 79 ; 617,158, 484 154,289,621 212, 756, 920 55 146, 728, 253 36, 682, 063 49, 712,119 6 9,139, 273 2, 284, 818 2, 946, 802 5 13,346,892 3, 336. 723 4, 518, 331 41 113,069,615 28, 267, 404 35,127, 567 29 36, 501, 630 9,125, 408 10, 733, 996 22 26, 663, 704 6, 665, 926 8, 733, 057 12 9, 226, 073 2, 306, 518 3, 669, 925 9 13, 912, 470 3, 478,117 3, 902, 412 7. 405, 007 7 1, 851, 252 2, 315, 708 29, 398, 866 13 7, 349, 717 8, 897,137 21,387,475 11 5, 346, 869 7, 342, 023 15, 382, 756 6 3,845,689 4, 409,159 17, 8H6, 750 5 4,459,187 6, 668, 715 2, 724, 299 4 681, 075 714, 599 11, 768, 703 5 2, 942,176 4, 099, 725 8, 531. 050 8 2,132, 763 3,133,481 17,583,077 9 4, 395, 769 6, 294, 600 4.488,324 3 1,122, 081 2, 441, 892 2, 377, 448 4 594, 362 687, 719 12, 673, 218 9 3,168, 304 4, 829, 737 5, 261, 008 2_ 1, 315, 252 1,605,748 265 "5257405, 891 131,351,473 172, 784, 452 ~344~ j 1^427^7375" 285, 641, 094 385,541, 372 (15 per cent.) 2, 270, 677 5, 647, 396 1, 532, 043 3, 369. 657 1, 352, 497 3,113, 869 12, 068, 552 21, 845, 945 3,180,519 6, 092, 024 5, 014,160 9, 722, 936 13, 799. 440 24, 920, 885 8, 285, 415 19,300,870 15, 438, 934 30,250,810 668, 613 1, 341, 834 1, 431, 266 2, 675, 730 121,030 433, 839 2, 009, 786 3, 743, 807 974,676 1, 910,109 636, 727 1,350,010 546, 223 745,882 695, 238 1, 507, 206 664, 619 902, 741 752,155 1,029,199 216,827 399, 913 225, 998 389, 771 4, 394, 639 9, 811, 755 224, 218 483. 787 1, 779, 603 3, 211, 997 2, 105, 049 3, 836, 626 8, 662. 561 18, 319, 791 4, 642, 742 12, 773, 901 6, 873, 697 16, 088, 685 3, 803, 508 7, 510, 276 3, 229, 614 7,119, 751 4,301,591 8, 929, 309 2,112, 642 4, 495,127 977, 663 2, 396, 659 2,580,511 7, 334,174 1, 825, 055 3, 883, 889 3, 449, 336 8, 906, 523 67,092 124,792 1,560,206 3, 523, 929 1,183, 758 2, 650, 601 90, 068 264, 827 735,984 1, 730, 897 544,083 1, 003, 535 252, 724 607,692 1, 897, 555 4, 051, 402 1,175, 042 1,954,921 348, 732 842, 904 289,307 505, 567 286, 699 627, 926 87,313 212, 431 158,678 428, 031 87B,704, 437 131, 505, 665 274, 926,1C9 417,146, 759 660, 467, 511 ,755 27019,268,812 Ratio of reserve. Fer cent. 35.20 33.50 24.55 34. 47 33.88 32.24 33.85 31. 07 29.41 32.75 39.78 28.05 31.27 30.26 34.33 28.66 37.39 26.23 34.84 36.73 35.80 54.41 28.93 38.11 30.52 32.89 33.74 37.31 32.99 34.53 27.15 28.73 29. 09 27. 09 34.94 29.39 30.10 28.04 53.50 27.94 29.40 31.80 20.48 32.52 20.37 32. 49 27.67 25.87 33. 49 32.36 27. 07 27.34 31.72 41.27 35.11 29.61 33. 07 31.14 31.92 36.77 42.63 31.92 38.73 27.90 33.88 33.59 44.10 35.28 27.67 36.07 32.03 24.96 36. 26 26.21 32. 85 36. 49 46.30 31.36 32.71 REPORT OF THE COMPTROLLER OF THE CURRENCY. REPORTS OF CONDITION AT THE CLOSE OF BUSINESS ON OCTOBER 2, Cash reserve. Required. 18,156, 982 1,128, 909 1,G53,976 13, 987, 428 4, 500, 909 3, 295, 951 1,136, 263 1, 718, 809 906,686 3, 597. 818 2, 644! 959 1, 892, 469 2, 219. 469 334,340 1,465, 677 1, 057, 381 2,187, 760 556,574 293, 243 1, 567, 727 655, 376 64, 958/706^ Held. Specie. 11, 059,178 18, 536, 322 781, 212 1,190, 575 787, 639 1, 944, 678 19.616,041 14, 632,108 6, 947, 262 4, 743, 579 6,162, 997 3, 336, 873 2, 324, 444 1, 499, 379 2,459,661 , 1, 524,139 1,152.609 ! 491,173 5, 200, 232 1, 758, 904 2,763,112 1, 728,112 1, 856, 374 1, 291, 314 2, 740, 854 2,104, 494 352, 449 137, 715 2, 182, 595 2, 028,100 1, 611, 384 1, 052,134 2, 355, 968 1,613,310 650, 636 374,159 355, 736 274, 359 2, 335, 636 1, 620, 683 1,402, 628 1, 367, 902 84,142,193 54, 206, 466 "19^30743^ 827, 337 1, 459, 428 549, 797 770,602 490,161 870, 372 4, 477, 427 6, 872, 430 1,140, 722 1, 686, 275 1, 866, 853 3, 660. 382 8, 613, 268 5, 218, 681 5,875,738 3, 223, 461 5,909,138 12, 000, 966 254,537 448,384 543, 823 1, 033, 768 44,152 277, 261 772, 430 1, 679, 399 372, 204 929, 273 241, 505 692, 272 211, 624 495, 439 200, 728 870,635 258,108 447, 255 282,121 867, 079 82, 062 247, 050 86, 239 182, 224 1, 667, 590 5, 688, 870 217, 013 85,808 650, 087 1, 228, 267 819, 380 2,190,857 3, 290, 831 7, 773, 753 1, 773, 224 6, 223, 787 5, 812,192 2, 649, 830 1, 461, 331 2, 589, 404 1, 256, 859 2, 587,480 1, 657,104 3, 360, 096 1,538,628 821, 373 373, 086 724, 485 985, 287 2, 278, 833 696,018 1, 258, 336 1, 352, 612 4, 515, 057 25, 568 47, 692 602, 910 2, 033, 651 462, 255 1, 384, 762 34, 412 129, 029 284, 782 511, 876 207, 077 478, 378 98, 272 288, 982 744, 839 1, 718,236 445, 595 1,123,251 126, 768 446, 941 111,178 177,299 109, 460 269, 066 33,575 89, 750 53, 851 98, 776 49, 994, 072 106, 764, 247 191,713, 249 402, 894,682 213 1894. Classification of reserve held. United States D u o from Legal certificates I reserve tenders. of deposit. | agents. $53, 948, 627 8, 023, 359 1,874,029 637846,1)15 "57327,14? 409, 363 1,157, 039 3, 043, 933 2, 203, 683 856,124 615, 065 935. 522 661, 436 2, 291, 328 1,035,000 565, 060 636, 360 214, 735 154, 494 559, 250 742, 658 276, 477 81, 377 714, 953 34, 726 ^22^515,727; "867361, 742 310, 289 1,149,139 185, 051 585,551 249,158 621, 214 1, 976, 383 4,741,047 652, 652 1, 033, 623 795, 840 2, 864, 542 6, 047, 469 2, 465, 799 2, 851, 226 3,014,512 3,735,582 8, 265, 384 120,906 327, 478 311, 525 722, 243 15, 803 261, 458 803, 745 875, 654 378,160 551,113 227, 977 464, 295 265, 243 230,196 351, 320 519, 315 230,983 216, 272 272, 210 594,869 121, 000 126, 050 47, 317 134, 907 2, 903, 598 2, 785, 272 81, 892 135,121 496, 383 731, 884 961, 316 1, 229, 541 4, 874, 552 2, 899, 201 4, 388, 896 1, 834, 891 4, 000, 999 1, 746,193 722, 379 1, 867, 025 669, 816 1, 917, 664 2, 338, 176 1, 021, 920 423, 498 1,115,130 273,073 451, 412 770, 698 1,508,135 351, 975 906, 361 1,109, 234 3,405, 823 1,733 45, 959 218, 537 1, 815,114 110, 730 1, 274, 032 19, 576 109,453 223,966 287,910 126,108 352, 210 53, 631 235,351 648, 651 1,069, 585 80, 743 1,042,508 28, 089 418,852 59, 708 117,591 33, 790 235, 276 39, 309 50, 441 21, 745 77, 031 72, 251, 961 34,182, 286 237,250, 654 120, 544, 028 1, 940, 000 1,970,000 210, 000 1,150, 000 7, 420, 000 155, 000 100, 000 10, 000 65, 000 330,000 45,100, 000 $30, 807, 697 1, 729, 227 2, 544, 883 15, 218, 978 3, 663,144 2, 496, 035 1,311,488 1, 402, 251 1,125, 219 3, 542, 825 4, 521, 961 2, 492, 035 3, 907, 611 349, 755 1,906,307 1,504,097 3, 918, 382 1,782,324 324,108 2, 461, 251 198, 620 ~~87, 208,198" "87,208,198 3, 985,633 2, 441, 505 2,116, 404 14, 098, 530 4, 077, 035 5, 715, 527 15, 554, 880 13,198, 371 17, 583, 755 861, 180 1, 570,252 145,328 1, 985, 697 936, 670 624, 775 233,279 593,154 436,136 715,268 141, 191 197,147 3, 897,221 257, 077 1, 829, 345 1, 589,170 10,110, 554 6, 340, 431 10, 027, 370 4, 770. 692 4, 444, 804 5, 410, 382 2, 897, 291 1, 627, 226 4, 938, 046 2, 540, 544 4, 323. 661 73,' 928 1,437.347 1, 237, 719 131,762 1,194, 991 498, 766 311,666 2, 297, 707 770, 615 364,150 316, 906 345, 810 119,306 325, 204 161,641,408 248, 849, 606 202, 157, 127, 874, 328, 347, 752, 226, 666, 32, 71, 11, 78, 44, 32. 17, 43, 19, 46, 11, 10, 225, 664 9, 154, 56, 435. 209, 249. 150; 87, 158, 59, 44, 117, 85, 67, 3, 52, 28, 4, 24, 26, 7, 35, 61, 31, 11, 13, 3, 4, 6, 520, 484 8,723,223 214 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATEMENT SHOWING AMOUNT OF DEPOSITS HELD BY NATIONAL BANKS, AMOUNT OF LAWFUL MONEY RESERVE REQUIRED, AND RATIO OF SAKIE; ALSO AMOUNT, RATIO, AND CLASSIFICATION OF RESERVE ACTUALLY HELD ON DECEMBER 19,1893, FEBRUARY 28, MAY 4. JULY 18, AND OCTOBER 2, 1894. Keservo required. Reserve held. Xo. of Deposits banks RaRatio. tio. A m o u n t . December 19, 1803. Central reserve cities 0tlior reserve cities Outside of reserve cities .. Millions. P. 79 270 3, 438 525.6 459.6 793.1 3,787 ],778.3 79 208 3, 430 575.1. 491.4 826.9 3 777 1,893.4 79 268 3, 427 618. 5 522. 0 847. 8 3. 774 1. 988. 3 79 265 3, 426 618.7 3,770 2, 007.4 79 C e n t r a l reserve cities Other reserve cities 265 Outside of reserve cities . . 3,411 617.2 525. 4 876.7 Total February ct. Millions. Per ct. 25 131. 3 41. 55 25 114.9 36.16 15 119.0 31.65 Amount. Classification of r e s e r v e held. Lawful money in bank- Due from reserve agents. Redemption with treasurer. Millions. Millions. Millions. Millions. 218. 4 217.6 0.8 166.2 76.4 88.2 1.6 251.0 136.2 108.3 6.5 365. 2 35.74 635. 6 414.1 212. 6 8.9 143. 8 122. 8 124.0 40.37 37. 79 32.86 232.1 185.7 271. 8 231.4 93.6 109. 0 90.6 156. 3 0.7 1.5 6.5 390.6 36. 42 689.6 434.0 246.9 8.7 154.6 39.43 130. 5 • 37.97 127.2 32.62 243.9 198.2 276.6 243.2 97.5 111.4 99. 3 158. 6 0.7 1.4 6.6 412.3 36.14 718.7 452.1 257. 9 8.7 154.7 1.53. 4 128. 2 37.66 36.75 32, 36 233.0 196. 2 276.6 96.9 161.2 0.7 1. 5 6.6 416.3 35.16 705.8 232.3 97. 8 108. 8 438.9 258.1 8.8 154.3 131.3 131.5 34.47 32.89 31.36 212. 7 172.8 275.0 212.0 84.1 106.8 87.2 161. G 0.7 1.5 6.C 417.1 32.71 660. 5 402. 9 248. 8 8.8 28, IS94. Central reserve cities Otlier reserve cities Outside of reserve cities .. Total 25 25 15 May 4, 1894. Central reserve cities Otlier reserve cities Outside of reserve cities .. Total 25 25 15 July 18, 1394. Central reserve cities Outside of reserve cities .. Total 854.9 25 25 15 October 2, 1894. Total 3, 755 2, 019. 3 25 25 15 REPORT OF THE COMPTROLLER OF THE CURRENCY. 215 L I A B I L I T I E S O F T H E N A T I O N A L BANKS, AND T H E R E S E R V E R E Q U I R E D AND H E L D ON T H R E E D A T E S I N T H E Y E A R S 1889, 1890; 1891, 1892, 1893, AND 1894. STATES AND TERRITORIES EXCLUSIVE OF RESERVE CITIES. Reserve held. Date. ! No. of banks, Net deposits. Reserve i required, j i ! Millions. Millions. May 13,1889 i 2,914 ! 769.8 115.5 J u l y 12,1889 j 2,944 j 789.1 118.4 Sept. 30, 1889 j 2, 992 j 807. 6 121.1 A m o u n t Ratio to | deposits. \ Specie. Other ! Due ! Redemplawful I from j tion money.! agents, i fund. Millions. Per cent. Millions. {Millions. Millions. Millions. 223. 9 29.1 53.5 36.9 ! 127.8 j 5.6 229.3 29.1 53.3 37.2 i 133.3 I 5.6 224.6 50.5 36.2 ; 132.4 | 5.5 27,8 26.4 26.6 26.2 52.9 52. 7 54. 3 37.3 I 37. 1 I 37.7 ! 225.1 224. 7 235.5 26.6 26.5 27. 3 61. 3 62.8 60.3 36.5 ; 36.4 j 139.4 142. 5 146. 3 274. 2 282.2 274.8 29.5 29.7 28.2 65. 3 66.4 66.6 970.5 864. 5 767.5 145. 6 129.7 115.1 24.4 26.8 30.0 j 847.8 855.0 876.7 127. 2 128.2 131.5 237.4 231.6 | 230.6 j 276.6 ' 276.6 274.9 32.6 32.4 31.3 May 17,1890 I 3,125 | J u l y 18.1890 ! 3,151 I Oct* 2,1890 ! 3,207 I 845.3 835. 4 859.2 126.8 124.3 128.9 223.2 j May 4,1891 i 3,296 July 9,1891 | 3,309 Sept. 25.1891 i 3, 333 j May 17.1892 I 3,393 July 12, 1892 ! 3, 418 Sept, 30.1892 I 3, 430 847. 4 846.8 861.8 127.1 127.0 129.3 929. 2 950.3 975.6 May 4,1893 j 3,482 Jul} 12.1893 j 3, 459 3.1893 3, 434 Oct. May 4.1894 J u l y 18.1894 Oct* 2,1894 3, 427 3, 426 3, 411 Classification of reserve. 999 ? ' 127.6 i 127.0 ! 128.5 I j 122.1 | 120.3 I 133.0 • 5.4 5.3 5.2 38.7; 38.8 ! 38.9 ! 164.5 171.2 163.5 5.7 5.8 5.8 72. 8 73.2 75.9 37. 9 41. 6 41. 2 120. 8 110. 8 106. 9 6.0 6.6 74.4 73.9 72.2 37. 0 34. 9 34. 5 158. 6 161. 1 161. 6 5.2 5.1 5.4 N E W YORK CITY. May 13,1889 J u l y 12,1889 Sept, 30,1889 45 45 45 361.0 359.2 338.2 90.2 89.8 84.5 103. 7 97.3 84.9 28.7 27.1 25.1 71.5 61.8 59.1 32.0 ! 35.3 I 25.6 ! 0.2 0.2 0.2 May 17,1890 JulV 18,1890 OcL 2,1890 46 47 47 322.3 326.8 332. 6 80.6 81.7 83.2 85.0 88.4 92.5 26.4 27.0 27.8 65.2 64.2 78.4 19.6 24.0 13.9 0.2 0.2 0.2 May 4,1891 July 9.1891 Sept. 25, 1891 47 49 49 327. 3 330.3 327.8 81.8 82.6 81.9 88.3 98.9 86.1 26.9 29.9 I 58.6 55.6 53.8 29.5 43.1 32. 0 : 0.2 0.2 0.3 May 17,1892 July 12, 1892 Sept. 30, 1892 48 48 48 437.3 424.5 391.9 109.3 106.1 98.0 127. 8 124. 7 103. 4 29.4 26.4 85.2 75.8 62.6 42.3 ! 48.5 40.6 ! 0.3 0.4 0.2 May 4,1893 J u l y 12,1893 Oct. 3,1893 49 49 49 345.0 304.4 309.9 86.2 76.1 77.5 98.4 77.0 109. 0 28.5 • 25.3 : 35.1 63. 5 55. 0 75. 7 34.5 21.6 i 32.5 0.4 0.4 0.8 May 4,1894 J u l y 18,1894 OcL 2,1894 49 49 49 487.3 488. 6 489.7 121.8 122.2 122.4 192.6 185.3 172.4 39.5 j 37.9 j 35.2 i 95.0 86.8 82.8 90. 0 97.9 88. 9 ' 0.6 0.6 0.7 216 REPORT OF THE COMPTROLLER OF THE CURRENCY. LIABILITIES OF THE NATIONAL BANKS AND THE RESERVE ON THREE DATES, ETC.—Continued. REQUIRED AND HELD CHICAGO. Classification of reserve. Other I Due lawful ! from money, agents. May 13,1889 July 12, Sept. 30,1889 Millions. 26.4 24.7 25.0 Millions. \Millions. May 17,1890 J u l y 18,1890 Oct. 2,1890 May 4,1891 July 9,1891 Sept. 25,1891 May 17,1892 July 12,1892 Sept. 30,1892 May 4,1894 J u l y 18,1894 Oct. 2,1894 ST. LOUIS. 1.7 2.3 1.0 0.01 0.01 0.01 3.1 | 3.3 2.5 0.02 0.02 0.02 May 4,1891 J u l y 9,1891 Sept, 25,1891 2.4 1.6 2.0 0.02 0.02 0.02 May 17,1892 July 12,1892 Sept. 30,1892 2.0 1.4 0.02 0.02 0.02 May 4,1893 July 12,1893 Oct. 3,1893 2 2 2.0 2.0 0.02 0.02 0.02 May 4,1894 J u l y 18 1894 Oct. 2,1894 2.4 2.9 3.2 0.02 0.02 0.02 May 13,1889 July 12,1889 Sept. 30,1889 KEPORT OF THE COMPTROLLER OF THE CURRENCY. 217 LIABILITIES OF THE NATIONAL BANKS AND THE RESERVE REQUIRED AND HELD ON THREE DATES, ETC.—Contiuued. OTHER RESERVE CITIES. Reserve held. Classification of reserve. Date. i deposits. Specie. Other Due lawful | from money. I agents. Per cent. Millions. Millions.! Millions. 43.7 32.0 28.9 43.5 31.0 27.9 37.8 29.1 26.7 May 13,1889 July 12,1889 Sept, 30,1889 May 17,1890 July 18, 1890 Oct. 2,1890 28.9 28.4 28.3 41.4 43.7 43.1 25.2 28.1 24.9 May 4,1891 July 9.1891 Sept. 25,1891 30.5 30.3 30.7 51.6 49.1 45.5 26.7 29.0 31.5 May 17,1892 J u l y 12,1892 Sept. 30,1892 35.4 33.4 30.1 59.3 59.0 53.0 38.0 37.4 29.1 May 4,1893 J u l y 12,1893 Oct. 3,1893 28.5 29.2 35.1 45. 6 40. 6 46. 6 33.3 27.8 29.8 37.9 36.7 32.8 58. 4 59. 4 54. 2 39.1 38.4 29.9 198.2 196.2 172.8 May 4,1894 July 18,1894 Oct. 2,1894 SUMMARY. May 13,1889 July 12,1889 Sept. 30,1889 3,206 3,239 3, 290 1, 627. 9 1, 665. 0 1,665.5 330.0 337.3 333.1 490.3 487.3 459.6 30.1 29.3 27.8 185. 2 175.9 164.3 111.2 112.3 99.7 187. 4 192. 5 189.1 6.6 6.5 6.4 May 17,1890 J u l y 18,1890 Oct. 2,1890 3,438 3,484 3,540 1, 703.6 1,735.4 1,758.7 341. 4 349.3 353.7 463.9 473.0 478.2 27 2 27.3 27.2 178.1 178.6 195.9 96.2 • 183.2 102.3 185.8 189.5 86.8 6.3 6.3 6.1 May 4,1891 July 9,1891 Sept. 25,1891 3,633 3,652 3,677 1, 744. 6 1, 734. 5 1, 758. 6 351.3 348. 9 353.5 488.9 491.8 497.4 28.0 28.3 28.3 194. 9 190.8 183.5 107.8 119.3 113. 5 180.0 175.6 194.0 6.2 6.1 6.6 May 17,1892 July 12,1892 Sept. 30,1892 3,734 3, 759 3,773 2, 026. 3 2,051.0 2, 022. 5 413.7 417.7 408. 1 630.7 626.0 571. 0 31.1 30.5 28.^ 239.0 229. 3 209.1 134. 4 137. 1 118.3 250.3 252.5 236.4 7.0 7.1 7.2 May 4,1893 July 12,1893 Oct. 3,1893 3,830 3, 807 3,781 1, 910. 4 1, 674. 6 1, 573.7 380.5 332. 2 316.6 504.6 456.1 513.9 26.4 27.2 32.6 207.2 186. 7 224. 7 115.6 102.5 121.7 174.3 159.3 158.5 7.5 7.6 9.0 May 4,1894 J u l y 18,1894 Oct. 2,1894 3, 774 3, 770 3,755 1, 988. 3 2, 007. 4 2, 019. 2 412.3 416.4 417.1 718.7 705.8 660.5 36.1 35. 1 32.7 259.9 250.7 237.3 192. 2 188.3 165.6 257.9 258.0 248.8 8.7 8.8 8.8 218 REPORT OF THE COMPTROLLER OF THE CURRENCY. STATE OF TIII: L A W F U L M O N E Y R E S E R V E OF T H E NATIONAL BANKS AS STATES AND Xo. of i Oct. Dec. Feb. May July Sept, Dec. Feb. May July Oct. Dec. Feb. May July Sept. Dec, Mar. May July Sept. Dec. Mar. Mnv July Oct Dec. Feb. May July Get*. 1888. 1888. 1889. 1889. 1889. 1889. 1889.. 1890.. 189;).. 1890.. 1890.. 1890.. 1891. 1893. 1891. 1892. 1892., 1892. 1892. 1893. 1893. 1893. 1893. 1893. 1894. 1894. 1894. 1894. ants, j Net deposits. Ileserve required. 2, 847 $739. 325, 350 2. 858 730, 883,243 2, 878 757, 591,413 2,914 , 769, 817.794 2, 944 789, 081, 203 2, 992 807, 628.795 3, 020 807, 532,815 3,070 833, 504, 222 3.125 845, 329,596 3. 151 835, 341,554 :!, 207 859, 249,215 3, 241 819. 407, 422 3. 205 828, 043, 459 3, 296 847, 402. 314 3, 309 846, 759, 676 3, 333 861, 837,570 3, 349 867, 016,129 3, 370 909, 876,403 3, 393 929, 173, 506 3, 418 950, 252, 797 3, 430 075, 542, 131 3, 439 975, 622, 088 3,461 I 981, 760,606 3,482 970, 413,360 3,459 864, 468, 926 3,434 767, 477,513 3,438 I 793, 100,325 3,430 j 826, 997, 631 3.427 847. 816, 264 3,426 854, 963, 277 3,411 876, 704, 437 .$110, 898, 802 11)9, 632, 486 113, 638, 712 115, 472. 669 118, 362, 180 121, 144, 318 121, 129, 922 125, 025,633 126, 799, 439 124, 301, 233 12,r 382 122^ 911,113 124, 296,519 127, 110,347 127, 013, 951 129, 275, 635 130, 052,419 136, 481, 460 139, 376, 025 142, 537,920 146, 331, 320 146, 343. 313 147, 264,090 145, 562, 004 120, 670, 338 115, 121, 627 118, 905, 049 124, 049, 644 127, 172, 439 128, 244, 492 131, 505, 665 HESE1IYE Oct. 4,1888.. Dec, 12,1888.. Feb. 26,1889. May 13,1889. July 12,1889. Sept, 30, 1889.. Dec, 11,1889. Feb. 28, 1890. May 17,1890. July 18,1890.. Oct. 2,-1890. Dec. 19.1890.. Feb. 26,1891. May 4.1891. 9,1891. July 25.1891. Sept. 2,1891. Dec. 1,1892. Mar. 17,1892. Mav 12,1892. July 30.1892. Sept, 9,1892. Dec. 6,1893.. Mar. 4,1893. May July 12.1893. 3.1893.. Oct; 19,1893. Dec. 28,1894. Feb. 4,1894. May July 18,1894. Oct. 2,1894. 293 292 291 292 295 298 300 307 313 333 333 332 335 337 343 344 343 341 341 341 343 345 345 348 348 347 349 347 347 344 344 $804, 241,438 774, 053, 284 840, 117. 539 858, 084,652 875 916, 968 817, 868, 586 801 625. 021 844, 646, 301 858 292, 596 900 058, 542 899 412,106 814 046, 939 877 391,354 897 207, 393 887 727,112 896, 799,099 916, 744, 509 1,061, 786, 647 1,097 •165, 067 1,100 686,179 1,046 937,693 983 607,295 963. 289.771 939 996, 774 810 184, 800 806 241,402 985 202, 906 1, 006 457, 735 1,140 492, 036 1,152 453, 439 1.142 504, 375 $201, 060, 359 193, 513, 321 210, 029, 385 214, 521,163 218, 979,242 211, 967,147 200, 406, 255 211, 161, 575 214, 573,149 225, 014, 635 224, 853, 027 203, 511, 735 219, 347, 838 224. 301, 848 221, 937, 778 224, 199, 774 229, 186,127 265, 446, 662 274, 291, 266 275, 171,544 261, 734, 423 245, 901, 824 240, 822, 443 234. 999,194 202, 540, 200 201, 560, 350 246, 315,726 266, 614, 433 285, 123,009 288, 113,360 285, 641.094 REPORT OF THE COMPTROLLER OF THE CURRENCY. 219 SHOWN BY THE REPORTS FROM OCTOBER 4, 1888, TO OCTOBER 2, 1894. TERRITORIES. Reserve held. Amount. $209,844, 956 200, 111, 504 224, 480. 351 223, 875, 655 229, 353, 725 224, 634,194 212, 516, 298 233, 749. 310 223, 205. 878 222.203,056 225, 523, 671 210,262,300 229, 938, 230 225, 163, 434 224, 652, 075 235, 508, 045 235, 620. 574 270, 973! 086 274,129;725 282,158, 477 274, 769, 504 255, 727, 465 254,568,781 237,431,814 231, 651, 867 230,595.191 251, 054, 068 271,760,418 276, 579, 077 276, 642, 799 274,926,139 Classification of reserve held. Ratio to liabilities. Per cent. 28.4 27.4 29.6 29.1 29.1 27.8 26.3 28.0 26.4 26.6 26. 2 25 7 27^7 26.6 26.5 27.3 27.2 29.8 29.5 29.7 28.2 26.2 25.9 24.4 26.8 30.0 31.6 32.8 32.6 32.3 31.3 U n i t e d States certificates of deposit. RedempDue from reserve tion fund with agents. Treasurer. Specie. Legaltenders. $50,188, 336 50, 661, 056 52, 214, 875 53,549,166 53, 312, 874 50, 467, 987 52, 496, 023 55, 084, 885 52, 896, 449 52,752,311 54, 250, 695 57, 551, 701 61, 575, 870 61, 303,140 62, 776, 089 60, 314, 566 61,590,899 62, 867, 013 65, 324, 747 66, 394, 006 66, 575, 758 68, 405, 394 71,346,320 72.812,241 73,103,849 75,971,385 72, 811, 868 73, 839, 268 74. 430, 097 73,921,334 72,251,961 $33, 789, 747 33, 326, 867 34, 734. 244 36, 235, 912 36, 758, 352 35, 712, 394 37, 389, 775 38, 450, 332 36, 823,184 36, 674, 235 37, 218, 060 37, 562, 841 36, 682, 708 36,124, 884 36, 038,178 36, 394, 059 36, 532, 677 37, 017, 682 38, 308, 295 38, 405, 004 38, 525, 290 39, 247,152 37, 527, 765 37, 573, 847 41, 353, 526 40, 978, 224 35, 293,150 34, 905, 942 36, 769, 820 34, 633. 996 34,182, 286 $680, 000 530, 000 855, 000 705, 000 485, 000 510, 000 510, 000 505, 000 475, 000 440, 000 440, 000 445, 000 425, 000 425, 000 415, 000 440, 000 415, 000 440, 000 405, 000 405, 000 395, 000 360, 000 355, 000 345, 000 315, 000 215, 000 265, 000 235,000 240, 000 330, 000 330,000 $118,953,556 ] 09, 573, 502 130, 841, 596 127, 753, 288 133, 246, 766 132,423,322 116, 716, 620 134,379,587 127, 639, 363 127, 015, 635 128. 452, 576 109. 582, 313 126. 076, 254 122,115,434 120, 273, 937 132. 984, 453 131,609,289 165, 033,135 164, 423, 561 171, 219.102 163,509,922 141,848,825 139, 429, 002 120, 758, 208 110.834,812 106, 929,107 130,186,666 156, 258, 874 158.593,995 161,170,176 161,641,408 $6, 236, 317 6, 020, 079 5, 834, 636 5, 632, 289 5, 550, 733 5, 520, 491 5, 403, 880 5, 329, 506 5,371,882 5, 320, 875 5,162, 340 5,120, 445 5,178, 398 5,194, 976 5,148, 871 5, 374, 967 5, 472, 709 5, 615, 256 5, 668,122 5, 733, 365 5, 763, 534 5, 866, 094 5, 910, 694 5, 942, 518 6, 044, 680 •6, 501, 475 6, 497, 384 6, 527, 334 6, 545,165 6, 587, 293 6, 520, 484 $127, 799, 480 122, 073, 222 130, 069, 920 131, 627, 286 122, 590, 995 113, 858, 462 118, 593, 435 126,461, 252 125, 269, 045 125, 851, 752 141, 668, 163 132,511,305 139, 664, 492 133,636, 268 127, 993. 448 123, 200, 509 146, 307,135 167, 280, 955 173, 719, 360 162. 924, 474 142, 540, 621 141. 489, 866 136, 995, 496 134, 409, 901 113, 647, 324 148, 732, 475 178,441, 780 182, 327, 317 185, 511, 825 176,749,318 164, 998, 693 $47, 309, 714 49, 228,193 53, 890, 616 61,602,473 60, 698, 480 51, 039, 699 47,101,119 48,101, 270 51, 265, 808 55, 806,133 43, 386, 671 44, 614, 285 52, 717, 691 60, 250, 365 64, 361, 633 61,221,549 57, 321, 677 62, 428, 053 69, 673,107 75, 510, 012 65, 742, 655 63, 029,183 53, 408, 009 65, 937, 316 54, 480,151 73, 731,128 96, 333, 609 107, 862, 734 109,361,472 103, 582, 322 86, 361, 742 $8, 385, 000 8, 690, 000 12, 930. 000 12, 650! 000 14. 405, 000 12, 435, 000 8, 535, 000 8, 325, 000 7, 600, 000 9, 385. 000 5,715,000 5,315,000 11, 230, 000 11, 090, 000 18, 430, 000 15, 280, 000 8, 350, 000 23, 640, 000 26, 000, 000 22, 710, 000 13, 600, 000 6,110, 000 14, 320, 000 11, 785, 000 6, 345. COO 6, 805. 000 30, 990, 000 34,810,000 45,790,000 49,715,000 44, 770, 000 $51, 508, 038 47, 013, 696 61, 860, 599 59, 619, 008 59. 343. 308 56, 712, 959 48,173,145 53, 684, 545 55, 566. 943 58, 806,133 60, 999, 210 50, 638, 370 56, 569, 349 57, 889, 288 55, 317,148 61,005,875 64,710,249 91, 717, 863 85, 825, 510 81,254,538 72, 924. 409 63, 099, 335 63,183, 047 53, 553, 912 48. 517. 867 51, 570, 537 76, 443, 970 90, 633, 052 99, 260, 104 96,919,051 87, 208,198 $1, 319, 085 1,121,355 1, 025, 512 932, 917 907, 087 884, 568 872,779 862, 382 929,628 984, 247 961,257 948,667 955,146 963, 982 980. 969 1,16l! 461 1, 209, 571 1, 282,876 1, 322, 396 1, 359, 226 1, 376, 030 1,416, 320 1,491,137 1,525,472 1, 555. 928 2,475;939 2, 378. C58 2,224'100 2,168, 333 2. 204, 654 2, 202, 739 1 2 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2c 30 31 CITIES. $236, 321, 317 228, 126, 466 259, 776, 653 266, 431, 684 257, 944, 870 234, 930, 688 223, 275. 478 237, 434, 449 240, 691, 424 250, 833, 366 252, 720, 301 234, 027, 627 261,136, 678 263, 829, 903 267, 083, 198 261, 869, 394 277,898,632 346, 349, 747 356, 540, 373 343, 758, 250 296,183, 715 275,144, 704 269,397, 689 257,211,601 224, 546, 270 283, 315, 079 384,588,017 417, 854, 203 442, 091, 734 429,170, 345 385,541,372 29.4 29.5 30.9 31.1 29.5 27.7 27.8 28.1 28.0 27. 9 28.1 28.7 29.8 29.4 30.1 29.2 30.3 32.6 32.5 31.2 28.3 27.9 27.9 28.4 27.7 35.1 39.0 39.1 38.7 37.2 33.7 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 220 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE SHOWING, BY GEOGRAPHICAL DIVISIONS, THE RESERVE CITIES AND CENTRAL RESERVE CITIES, THE NUMBER OF BANKS IN OPERATION AT EVERY DATE ON WHICH REPORTS OF CONDITION" HAVE BEEN MADE, FROM MARCH 10,1885, TO OCTOBER 2, 1894, INCLUSIVE, TOGETHER WITH THE AMOUNT OF RESERVE REQUIRED AND THE AMOUNT HELD AT EACH OF THOSE DATES, AND THE CLASSIFICATION OF THE RESERVE HELD, SHOWING AMOUNTS AND PERCENTAGES IN EACH CASE. [Division No. 1.-—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut, excluding reserve cities.] Cla isification of reserve heId. Reserve held. Dates. Amount of reserve No. of required, 15 aanks per cent of net deposits. AT lount. Ratio. Lawful money (6 per cent). Amount. 1885. Mar. 10... May 6 July 1.... Oct. 1 .... Dec. 24 ... Per ct. 32. 37 32.52 31. 31 29. 98 28. 71 Ra bio. W i t h reserve Five agents (9 per cent). j)er cent redempAmount. Ratio. tion fund. I•«•ct. $8, 416, 689 8, 641, 121 8, 951, 595 9,549, 345 9,562, 800 9.12 8. 05 8. 10 8. 32 8. 36 $21, 146, 721 22,184, 176 21,637, 813 20,832, 605 19,311, 376 Per ct. 20. 39 20. 68 19. 58 18. 15 16. 89 29.32 27.98 9,772, 588 10, 304, 208 10, 316, 259 10, 335, 491 10, 888, 902 8.53 8. 85 8. 90 8. 47 9.17 18,969, 980 18,555, 748 17,449, 280 21,995, 854 15.93 15.05 18.03 19, 338, 260 16. 28 17, 341, 009 34, 081, 099 33, 354. 311 28 645 014 32, 079, 549 20, 625, 990 29. 27 27.92 24.94 27.10 25.64 10, 261, 663 10, 470, 249 10, 202, 657 10, 081, 047 10, 316,792 8. 81 8. 77 8. 88 8. 51 8. 92 21, 137, 117 20, 384, 444 1.6. 106, 385 19, 698, 402 17,045,118 18, 229, 528 18, 287, 862 18, 929;571 19, 889, 593 19, 338, 797 33, 096, 440 32, 928, 907 35,172, 829 36, 547, 994 33, 598.583 27.23 27 01 21.87 27. 56 26. 06 9, 937, 633 10, 402,526 10, 047, 520 10, 745, 765 10 784., 645 8. 18 8. 53 7.96 8. 11 8. 37 19, 631 20, 634 21, 622 21, 643 20, 841 288 607 302 953 025 36. 075,905 40, 294, 495 40, 580 347 38, 925 305 33, 648 578 27. 57 29. 29 28. 15 26. 97 24. 22 10 535, 537 11, 125, 890 11, 779, 205 11 534, 535 11 673, 180 20, 878 21, 229 22, 127 22, 292 20 763 978 739 475 952 36, 300 36, 242 37, 817 37,510 34, 649 20 499 21, 301 22, 232 21 827 22 188 189 304 922 710 592 33, 004 35, 962 41, 064 38, 281 38, 708 22 847 267 23 690 464 42 870 44 846 47 840 42 937 514 511 512 506 506 $15, 553, 913 16, 093, 617 16, 589, 066 17,218, 577 17,150, 864 $33, 563, 396 34, 886, 766 34, 597, 448 34, 416, 314 32, 831, 670 507 510 509 510 511 17,185, 207 17,388, 516 18,295, 909 17,815, 957 32, 588, 870 32, 509, 786 31, 345. 788 35, 762, 441 33, 229, 398 28. 44 27.91 27.04 ^3, 4, 4, 4, 3, 999, 986 061, 469 008, 040 034, 364 957, 494 3, 3, 3, 3, 3, 846, 302 649, 830 580, 249 431, 096 002, 236 1386. Mar. 1 J une 3.... Aug. 27... Oct. 7 Dec. 28 ... 16, 473, 718 16. 56 1887. Mar. 4.... 511 M a y 13... 513 512 Aug. 1 Oct. 5 5ft Dec. 7 .... 514 17,464, 118 17,918, 113 17,228, 499 17,758, 954 18. 15 14.74 2, 682, 319 2, 499, 618 2, 335, 972 2, 300,100 2, 264, 080 20, 928,685 20, 330, 966 22,986, 251 23,' 704, 062 20, 835, 576 17.22 16.68 18. 21 17. 88 16.16 2, 230,122 2,195, 415 2,139, 058 2, 098,167 1,978,362 8. 05 8. 09 8. 17 99 8.40 23, 657, 943 27,409, 248 27, 066, 971 25, 693, 206 20, 382, 427 18. 08 19. 92 18. 77 17. 81 14. 67 1.882,425 1, 759, 357 1,734,171 1, 697, 564 1, 592, 971 363 622 047 300 318 26. 08 11 504, 237 i 8 26 25. 61 11 090, 798 7 84 25.64 • 12364, 578 8 38 25.24 12 182, 922 8.20 12 134, 781 ! 8 77 25 03 23, 270, 173 23, 622, 164 23, 909, 780 23, 896, 058 21 119, 223 16. 72 16.61 16. 21 16. 08 15.26 1,525,953 1, 529, 660 1, 542, 688 1,431,320 1, 395, 314 361 153 138 908 25 32 27 70 26 31 14.31 15 80 17.72 16 47 17.06 14. 02 16.64 1888. Feb. 14.. 514 A pr. 30... 514 June 30... 515 515 Oct. 4 Dec. 12 ... 516 1889. Feb. 26... 517 May 13... 518 July 12... 521 Sept. 30... 522 Dec. 11 ... 523 1890. 524 527 July 18... 527 527 Oct>2 Dec. 19 ... 527 Feb. 28 ... May 17... 444 1891. Feb. 26 ... M a y 4.... July 9.... Sept. 25... Dec. 2.... 528 528 530 530 530 24.15 647 26 17 12 12 13 12 13 034, 234 111, 658 388, 475 789, 925 093, 798 8 81 8.53 9 03 8 79 8 85 19 554, 271 22 443 506 26 267 239 23 964 951 24 050 937 12 13 14 13 14 813, 421 366, 465 094, 485 876, 306 164, 898 8 41 8.46 28 400 953 18 29 823 145 18 32. 058, 140 19 27 359 249 16 24 244 231 14 13 883, 932 14 402, 940 15 428, 857 15 988, 452 15 177, 355 8 67 9 05 10 04 11 24 10 15 21 468 375 20 363 464 25 694 349 25 579 912 30 301 670 20 26 1, 740, 571 1,774,291 1, 857, 200 2.056,515 2, 025, 597 14 886, 727 15 205, 198 15 956, 555 9 64 9 45 9 50 9 04 32 276, 827 33 320 551 36, 748 791 32 434 634 20 89 20 72 21 89 19 14 2, 2, 2, 2, 1,415,856 1, 406, 989 1, 408, 424 1, 527, 032 16.26* 1, 563, 912 1892. 874 761 955 529 40 133 652 28 28 28 25 37 092 36, 540 42 980 43 624 47 504 23 16 22 96 27 97 539 538 24,021 757 23 874 620 23 046, 983 21 341 399 22, 438 459 Feb. 28... 538 539 May 4 July 18... 538 538 23,173 305 24 126, 341 25 182 231 25 418 448 49 165,608 50, 578 583 Mar. 1.... 533 M a y 17... 532 July 12... 537 Sept. 30... 540 Dec. 9 .... 540 24 761 277 24 111 370 24 549, 292 15 40 98 99 24 52 8 54 8 40 8 65 65 1, 646, 500 88 1,657,151 42 1, 688, 330 56 1, 701, 974 75 1, 724, 523 1893. Mar. 6.... M a y 4 .... July 12... Oct3 Dec. 19 ... 542 542 541 878 695 406 879 622 30 66 31 76 41 12 79 16 72 17 85 13 1894. 31 82 31 44 54,782 422 32 63 791 49 829 29 38 15, 319,489 002, 052, 077, 037, 054 835 078 706 REPORT OF THE COMPTROLLER OF THE CURRENCY. 221 TABLE SHOWING, BY GEOGRAPHICAL DIVISIONS, THE RESERVE CITIES AND CENTRAL RESERVE CITIES, THE NUMBER OF BANKS IN OPERATION, ETC.—Continued. [Division No. 2.—New York, New Jersey, and Pennsylvania, excluding reserve cities.] Dates. 1885. Mar. 10.. May 6 . . . Julyl... Oct.l.--Dec. 24 . . 1886. Mar.l... June 3 .. Aug. 27.. Oct. 7 Dec. 28 .. 1887. Mar. 4... May 13.. Aug. 1 . . Oct. 5 . . . Dec. 1 ... 1888. Feb. 14 . . Apr. 30.. June 30.. Oct. 4 . . . Dec. 12 . . 1889. Feb. 26.. May 13.. July 12. . Sept. 30.. Dec. 11 .. 1890. Feb. 28.. May 17.. July 18*. Oct. 2 . . . . Dec. 19 . . 1891. Feb. 26 .. May 4 . . . July 9 . . . Sept. 25.. Dec. 2 . . 1892. M a r . l .. May 17.. July 12.. Sept. 30.. Dec. 9 . . . 1893. Mar. 6 . . . May 4 . . . J u l y 12 . Oct.3... Dec. 19.. 1894. Feb. 28.. May 4 . . . July 18.. Oct. 2 ... Amount of No. reserve reof quired, 15 banks per cent of net deposits. 559 559 561 557 567 Classification of reserve held. Reserve held. Amount. Ratio. Lawful money (6 per cent). Amount. With reserve Five agents (9 per cent). per cent red em pRatio. Amount. Ratio. |tion fund. Per ct. Per ct. Per ct. $25, 258, 857 $55, 463, 538 32.94 $18, 925, 754 11.24 $33, 766,999 20.05 $2,770,785 25, 204, 559 53, 071, 039 31.58 20, 044, 604 11.93 30, 262, 857 18. 01 I 2, 763, 578 25, 615,062 51, 945, 847 30.42 19,178, 305 11.23 30, 033, 212 17. 59 J 2, 734, 330 26, 291, 732 56,170, 958 32.05 20, 055, 448 11.44 33, 297, 308 19.00 j 2,818,202 26, 843, 401 58, 345, 580 32.60 18, 913, 441 10.57 36, 653, 591 20. 48 2, 778, 548 I 570 571 572 572 575 27, 453, 354 27, 533, 873 28, 253, 322 28,830,549 28, 792, 675 56, 026, 945 54, 618, 391 56, 916, 208 54, 836, 089 53, 341, 795 30.61 29.75 30.21 28.53 27.79 18, 960, 011 20, 795, 357 20,185, 336 20,192, 341 20, 260, 434 576 580 586 587 591 29, 020, 465 29, 685, 015 29, 837, 428 30, 064, 960 30, 090,137 54, 867, 767 56, 268, 209 51, 361,676 52, 990, 784 52.172, 378 28.36 28.48 25.82 26.44 26.01 19,405,628 ! 20,193,151 j 19, 291,157 19, 775, 576 20, 038, 795 I 10.03 10.20 9.70 9.87 9.99 593 596 598 601 603 31,181, 582 31, 422, 827 31,184, 265 32, 659, 379 32,191,080 57, 520, 460 55, 782, 017 56, 274, 855 62, 056, 372 57, 440, 943 27.67 26. 63 27.07 28.50 26.77 20, 111, 377 20,936,380 19, 371, 217 21, 624, 500 20,803,560 9.67 9.99 9.31 9.93 9.69 603 607 608 615 617 32, 774, 651 33,020,608 33, 539,199 34, 329, 752 34, 059,110 63, 083, 678 62, 586, 794 64, 388, 650 61, 470, 079 56, 484, 694 28.96 28.43 28.78 26.86 24.88 21,144, 626 9. 68 21,670,363 I 9.84 21,675,391 9.69 20, 987, 608 9.17 21,179, 732 9. 23 625 629 626 633 640 34, 511, 854 34, 518,143 33, 516,164 34,306, 011 32, 687, 250 61, 087, 952 56, 982, 396 57, 433, 692 56, 273, 548 52,770,142 26.55 24.76 25.70 24.65 24.22 21, 451, 064 20, 335, 343 20, 674, 806 20, 867,126 I 21,676,126 i 647 655 657 658 658 33,316,855 | 60,131, 790 33,826,152 57, 359, 851 33, 855,163 58, 352, 449 60, 307, 438 34,601,023 34, 616, 832 59, 361, 535 27.07 25.44 25.85 26.14 25.72 22,198, 571 10.00 21, 838, 831 9.68 23, 393, 089 10.36 22, 805, 835 9.89 22, 237, 717 9.20 659 666 671 671 672 36,154, 961 37, 433, 634 38, 092, 339 39, 635, 699 39, 300,157 69, 465, 248 70,853,519 75, 068, 925 72, 090, 267 65, 465, 561 28.82 28.39 29.56 27.28 24.99 21, 790, 282 23, 085, 521 24, 013, 764 24, 252, 012 24,192, 628 677 688 697 699 702 39, 498, 038 40, 044, 889 37, 420, 310 34, 837, 686 35, 299, 048 65,213,004 64, 2VJ, 611 62, 967, 053 64, 014. 555 68, 698, 365 24.77 24.05 25. 24 27.56 29.19 24, 292, 569 9.23 26,108, 649 9.78 27, 705, 403 11.11 29, 302, 703 12.62 26, 679, 966 11.34 39, 537, 518 36, 722,845 33, 829, 395 33, 072, 886 40, 364,139 15.01 13.76 13.56 14.24 17.15 1,382,917 1, 382,117 1,432, 255 1, 638, 966 1, 645,260 702 704 707 708 35, 686, 352 36, 288, 881 36, 472, 750 37, 523, 789 73,141, 952 73, 545, 356 74,176, 398 74, 472, 565 30 74 30.40 30.51 29.77 26, 085. 074 26, 951, 930 26, 520, 051 26, 489, 972 10.96 11.14 10.91 10.59 45, 427, 817 44, 963, 847 46, 014, 019 46, 337, 006 19.09 18.59 18.92 18. 52 1, 629, 061 1, 629, 578 1, 642, 328 1, 645, 587 10.36 11.33 10.71 10.51 10.61 34, 334, 359 31, 241, 898 34,176, 300 32, 249,120 30, 849, 802 18. 76 2, 732, 575 17. 02 2, 581,136 18.14 2, 554, 572 16.78 ! 2,394,628 16.07 2,131559 33,449,631 34,160^ 474 30, 226, 408 31, 370, 441 30, 215, 646 17. 29 2, 012, 508 17. 26 1, 914, 584 15. 20 2, 844, 111 15. 65 1, 844, 767 15.01 1,817,937 35,617,574 | 17. 13 | 1, 791, 509 33,066,277 15.78 | 1,779,360 35,146, 229 \16.91 | 1,757,400 38,705,110 ! 17.78 i 1,726,762 34,986,054 I 16.30 | 1,651,329 I 18.47 1, 587, 653 17.89 1, 522, 775 18.43 1,483,803 17.04 1, 474, 586 14.91 1, 437,114 40,351,399 39, 393, 656 41,229,456 39, 007, 885 33,.867, 848 16.61 15.31 15.85 14.92 13.64 9. 32 38, 212, 896 8. 84 35, 226, 537 9. 25 35, 410, 567 9.12 34,120, 446 9.95 29, 824,190 9.04 9.25 9.46 9. 18 9.23 1, 423, 992 1, 420, 516 1,348,319 1, 285, 976 1, 269, 826 36, 659, 926 16. 51 34,242,908 | 15.18 33,695,293 1 14.92 36,214,263 j 15.70 35,820,101 15.52 1, 273, 293 1, 278,112 1, 264, 067 1, 287, 340 1, 303, 717 46, 353, 240 ,19.23 46,432,159 18.61 49,612,882 19.54 46,485, 078 ,17.59 39,904,523 15.23 1, 321, 726 1, 335, 839 1, 342, 279 1, 353,177 1, 368,410 i I *Brooklyn transferred to division No. 9 from July 18, 1890. 222 REPORT OF THE COMPTROLLER OF THE CURRENCY. T A B L E SHOWING, B Y G E O G R A P H I C A L D I V I S I O N S , T H E R E S E R V E C I T I E S AND C E N T R A L R E S E R V E C I T I E S , TIIK N U M B E R O F BANKS I N O P E R A T I O N , ETC.—Continued. [Division No. 3.—Delaware, Maryland, Virginia, West Virginia, and tlio District of Columbia, excluding reserve cities.] Date. 1885. Mar. 1 0 . . . May 0 . . . J u l y 1---Oct'. 1 . . . . Dec, 24 . . 1886. Mar. 1 . . . . June 3 . -. Aug. 2 7 . . . Oct?7 Dec. 28 . . . 1887. Mar. 4 . . . . May 1 3 . . . Aug. 1 . . . Oct. 5 Dec. 7 . . . . 1888. Feb. 14... Apr. 30 . . . June30... Oct. 4 Dec. 12 . . . Amount of No reserve of required, 15 banks per cent of net deposits. .Reserve held. Katio. Amount. Per ct. 28.04 29 56 27.29 33.50 33.54 Classification of reserve held. Lawful money (6 W i t h reserve percent). i agents (9 per cent). Amount Eatio. Amount. Five per cent redemption Eatio. fund. $3, 043, 637 2, 985, 242 2, 758, 277 3,134, 687 2, 887, 760 Per ct. 13.58 15.69 14.17 14.31 13. 70 $2, 895,186 2, 289, 321 2,199,965 3,850,486 3, 825, 340 Per ct. 12.92 12.03 11.30 17.57 18.15 $343,709 350,135 353,155 353,754 357, 881 3, 079, 948 3, 414, 420 3, 313, 468 3, 405, 443 3,124,102 14.60 15. 71 14.24 14.49 13.54 3,153, 202 3, 034,136 3, 714, 380 3, 414,134 3, 414, 702 14.95 13.97 15.96 14.53 14.80 345, 963 313, 325 309,873 306, 279 288, 187 88 87 87 88 8D $3,361,044 2, 854, 130 2, 919, 436 3, 286, 346 3,162, 147 89 90 91 89 91 3,163, 328 3,259,103 3, 490. 359 3, 525J 434 3, 459, 815 6, 579,113 6,761,881 3, 337, 721 7,125,856 6,826,991 j 91 92 93 94 94 3, 541, 988 3,434,211 3,681,532 3, 789, 907 3, 748, 997 6,685,225 j 28.31 0,233,763 i 27.16 6, 591, 665 26.86 6,641,421 26.29 0, 728, 437 ; 26. 92 3, 061,122 3, 351, 755 3, 397, 925 3, 402, 471 3, 329, 980 12.96 14.64 13.84 13.47 13.32 3, 370, 568 2, 640, 664 2, 952, 617 3, 004,141 3, 157, 971 14.27 11. 53 12.03 11.89 12.64 253, 535 241, 344 241,123 234, 809 240,476 94 94 95 96 9G 3,827,479 3,789,898 3, 902, 911 4, 364, 275 4,159,106 6, 737, 364 26. 40 6, 554, 763 25.94 6,688,570 1 25.71 8,474,938 ! 29.13 7,612,357 27.45 3, 272, 849 3, 340, 776 3, 320,174 3, 672, 305 3, 502, 069 12. 83 13.22 12.76 12. 62 12. 63 3, 236,123 2, 988, 503 3,150,750 4, 582, 280 3, 898, 858 12.68 11.83 12.11 15.75 14.06 •228, 392 225, 484 217, 646 220, 353 211,430 98 98 102 104 105 4,210,619 4,129, 743 4, 262, 053 4, 433, 299 4, 285, 277 7, 830, 630 7, 338,116 7, 356, 738 7, 390, 267 7, 058, 474 27.90 26. 65 25. 89 25. 00 24. 71 3, 583, 377 3, 852, 493 3, 634, 247 3, 387,152 3, 483,691 12. 77 13. 99 12.77 11.46 12.19 4, 043, 241 3,283,684 3, 528, 845 3, 808, 964 3,399,343 14.40 11.93 12.42 12.89 11.90 204, 012 201,939 193,646 194, 151 175, 440 107 108 110 112 113 4,364,478 4, 559, 745 3, 888, 424 5,127,124 4,821,664 7, 384, 234 7, 767, 257 8, 567, 845 8, 665,176 8.. 137, 749 25. 38 25. 55 26. 28 25. 35 25. 32 3, 252,139 3, 652, 805 3, 689, 922 3, 925, 154 4,178,148 11.18 12.02 11.32 11.48 13. 00 3, 956, 771 3, 942, 458 4, 701, $87 4, 575, 269 3, 793, 410 13. 60 12. 97 14. 43 13.39 11.80 175, 324 171, 994 175, 935 164, 753 166,191 115 116 117 121 122 4, 870, 435 4, 867, 413 4, 945, 034 5,211,836 5, 050, 442 8, 552, 098 8, 078, 827 8, 368, 584 9,103, 332 8, 947, 957 26.34 24.90 25.38 26. 20 26. 58 4,157,438 4, 553,151 4, 424, 507 4,351,771 4, 273, 584 12.84 14. 03 13. 42 12.52 12.69 4, 225, 817 3, 355, 717 3, 774,134 4, 562, 235 4, 482, 701 13.01 10.34 11.42 13.13 13.32 168, 843 169, 959 169, 943 189, 326 191, 672 123 123 125 126 128 5,197, 883 5, 339, 549 5, 525,165 5, 866, 785 5,734,312 9, 553, 079 10, 024, 832 10,051,025 10,642,067 9,573,896 | ! 27.57 28.16 27.29 27.21 25.04 4,043,320 4, 579, 861 4, 539, 597 4, 555, 393 4, 297, 482 11.67 12.87 12.32 11.65 11.24 5, 5, 5, 5, 5, 312, 345 254, 667 306, 624 880, 534 070, 908 15.33 14.76 14.41 15.04 13.26 197,414 190, 304 204,804 206,140 205,506 129 129 131 131 131 5, 620, 043 5, 468, 535 5. 240, 620 4, 905, 964 4, 889, 865 8,825,443 8.182, 251 8, 791, 799 8. 867, 343 9.118, 859 23.53 22. 44 25.16 27.11 27. 97 4,141, 262 4,474,082 5, 007,147 5,168,452 4, 373, 713 11.05 12.27 14.33 15.80 13.42 4,473,944 3, 497, 972 3, 578, 550 3, 468, 996 4, 524, 357 11.94 9.59 10.24 10.61 13.88 210, 237 210,197 206,102 229, 895 220,789 132 132 132 132 4, 4, 5, 5, 8, 871, 045 27. 00 8,707,969 I 26.52 9,515,602 | 28.20 10,105,319 j 29.12 f 4, 584,107 4, 723, 559 4, 545, 928 4, 368, 085 13.95 14.38 13.47 12.59 4, 041, 220 3, 735, 030 4, 723, 541 5,499,127 12.30 11.37 14.00 15.84 245, 719 249, 379 246,132 238,107 $6, 282, 532 5, 624, 698 5,311,397 7, 338, 927 7, 070, 981 31.20 31.12 31.53 30.32 29.60 i 1889. Feb. May 20 13 .. .. .. July 12... Sept, 30 .Dec. 11, . . 18C0. Feb. 28 . . . May 17 . . . July 18... Oct'2 Dec. 19 . . . 1891. Feb. 26 . . . May 4 • July 9 . . . . Sept, 25 . . Dec. 2 . . . . 1892. Mar. 1 May 1 7 . . . July 12... Sept. 30.. Dec. 9 1893. Mar. 6 . . . May 4 . . . July 12.. Oct. 3 . . . . Dec. 1 9 . . . 1894. Feb. 28 . . . May 4 July 18... Oct. 2 928, 925, 061, 205, 982 572 393 971 REPORT OF THE COMPTROLLER OF THE CURRENCY. 223 T A B L E SHOWING^ B Y GEOGRAPHICAL D I V I S I O N S ; T H E R E S E R V E C I T I E S AND C E N T R A L R E S E R V E C I T I E S , T H E N U M B E R O F BANKS I N O P E R A T I O N , ETC.—Continued. [Division No. 4.—North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana. Texas, Arkansas, Kentucky, and Tennessee, excluding reserve cities.] Date. Amount of No. reserve of required, 15 banks per cent of net dej>osits. Reserve held Amount. Classification of reser\ e held. Ratio. Lawful mo ney (6 per cent ). Amount. With rese r v e Five per agents (9 pei cent). cent redemption Ratio. Amount. Ratio. fund. $7, 964 807 7,563 398 7,159, 393 6, 826. 279 8,001 784 Per ct. 17.91 17.50 16.67 16.03 16.80 1885. Mar. 1 0 . . . May 6 . . . . July 1 . . . Oct' 1 . . . . Dec. 24 . . . 1886. Mar. 1 . . . . June 3 . . . Aug. 27... Oct. 7 Dec. 28 . . . 226 229 232 232 235 $6 6 6 6 7 669, 784 483, 495 442, 590 388,330 142,914 $15 13 12 11 15 098, 820 065,477 404,357 874,404 834,011 240 245 251 251 253 7 7 7 7 8 583,952 493, 063 301,499 520,093 863,744 16 15 13 13 21 308,788 598, 452 956, 929 597, 692 096, 851 32 26 31 23 28 67 27 12 35.70 8, 523 8,108 7,650 7,565 9,659 863 413 399 181 357 16.86 16.23 15.72 15. 09 16.35 1887. Mar. May 14 3. .. .. .. Aug.l.... OctS Dec. 7 . . . . 265 279 290 296 301 9, 951, 682 9,403,413 9 227,123 9 183, 326 9, 671,142 22 18 15 16 18 483, 366 093, 369 98],046 341, 034 963, 708 33 89 28 86 25 98 26 69 29.41 10, 365 9,623 8,924 9,728 10, 375 065 458 833 521 365 1888. Feb. Apr. 14 3 0.... .. J u n e 30 . . Oct. 4. . . . Dec. 12 . . . 1889. Feb. 26 . . . May 1 3 . . . J u l y 12 .. Sept, 30... Dec. 11 .... 1890. Feb. May 28 1 7.. .. .. July 18... Oct'. 2 . . . . Dec. 19 . . . 1891. Feb. 26 . . . May 4 July 9 . . . . Sept. 2 5 . . . Dec. 2 1892. Mar. 1 May 1 7 . . . July 1 2 . . . Sept. 30... Dec. 9 . . 1893. Mar. 6 May4.... Julvl2... Oct 3 Dec. 19 . . . 1894. Feb. 2 8 . . . May 4 . . . . July 18... Oct. 2 Per 33 30 28 27 33 ct. 96 23 88 88 25 $6, 385,184 4 765, 739 4 532,187 4 322, 638 7 141, 940 Per ct. 14 36 11 03 10.55 10 15 15.00 $748 736 712 725 690 829 340 777 487 287 114,169 863,196 699, 062 474, 973 914,071 14 07 13 74 11 71 10.92 18. 47 670 626 007 557 523 756 843 468 538 423 15.62 11 607, 039 7 965, 043 15.35 14.51 6, 555, 611 6 100,154 15.89 16.10 i 8 072,837 17 12 10 9 12 50 71 66 96 52 511 504 500 512 515 262 868 602 359 506 11, 248, 310 9,916 320 9,397 854 9,557 311 9,752 368 16.47 15.22 14.56 15.02 14.34 9, 353,121 7 522,773 8 027,614 6, 338, 284 9 382,165 13 11 12 9 13 70 54 44 96 79 507 506 500 484 487 774 670 475 872 612 7 6 5 5 10 305 307 313 318 321 10 9 9 9 10 241, 743 775,180 683, 437 543, 970 201, 944 21 109, 205 17 945,763 17 925, 943 16 380,467 19, 622,145 30 27 27 25 28 324 339 346 364 374 11 495, 298 11 100,507 11, 035, 036 11, 566, 487 12, 872, 658 26 797, 309 22 345, 576 20, 836, 091 20, 014,741 24, 737, 345 34 97 30 20 28 32 25. 96 28. 83 12,195 11, 482 11,054 10, 771 11, 495 333 281 098 020 248 15.91 15.52 15.03 13.97 13.39 14 122, 446 10 385, 059 9 301,242 8, 756, 707 12 731,317 18.42 14.03 12. 64 11 36 14 84 479, 530 478 236 480 751 487 014 510 780 393 406 424 448 459 14 175,895 13, 714, 057 13. 739, 545 13, 710,442 13, 510, 003 30, 120,238 23, 414, 837 21, 907, 965 22, 104, 528 23, 155, 918 31. 87 25. 61 23. 92 24.18 25 71 14, 846 12, 862 12,097 12, 400 13, 418 750 873 302 753 057 15. 71 14. 07 13.21 13.57 14. 90 14 753,742 10, 017,319 9, 268,102 0, 139, 407 9, 173,073 15 61 10 96 10 12 10.00 10 18 519, 746 534, 645 542 560 564, 368 564, 788 467 477 479 478 481 13, 804, 224 13, 436, 294 12, 738,158 12, 036, 628 12, 811,339 26, 336, 774 22, 473,091 21, 332,300 20, 885, 765 26, 036, 093 28. 62 25.09 25. 12 26. 03 30.48 14, 779, 794 12, 991, 105 12, 403, 539 11, 898, 504 13, 545, 523 16.06 14.50 14.61 14.83 15.86 10, 970, 713 8, 891, 629 8, 344, 235 8, 394, 262 11, 877,366 11 9 9 10 13 92 93 83 46 91 586, 267 590, 357 584, 526 592, 999 6.13, 204 489 496 500 500 501 13, 763,268 13, 622,353 13, 467, 057 13, 626, 945 14, 813, 578 30, 781, 096 28, 184, 556 27, 206, 231 24, 577,400 29, 429, 783 33. 55 31. 03 30. 30 27. 05 29. 80 15, 204, 417 14, 563, 496 13, 784, 480 12, 747, 780 14,677, 877 16.57 16.04 15.35 14.03 14.86 14 949, 816 12, 974,795 12, 765, 346 11, 175, 373 14, 089, 551 16 29 14 29 14. 22 12 30 14. 27 626, 863 646, 265 656, 405 654, 247 662, 355 501 502 499 487 484 15, 395, 493 14, 806, 327 12, 813,088 10, 094, 707 11, 917, 207 30, 895, 770 26, 856, 363 24, 628, 630 21, 458,980 27, 548, 548 30. 10 27. 21 28.83 31. 89 34.67 15, 764, 518 14, 982, 806 15,166, 526 14, 354, 238 14,157, 099 15.36 15.18 17.76 21.33 17.82 14, 497, 932 11, 241, 220 8, 837,103 6, 491,512 12, 771, 972 14. 13 11. 39 10. 35 9.65 16. 08 633, 320 632, 337 625, 001 613, 230 619, 477 477 481 481 480 12, 833, 427 12, 729,137 12, 015,659 12, 241, 296 31, 165,124 29, 599,433 24, 533,906 24, 268, 887 36. 43 34. 88 30. 63 29. 74 15, 598, 157 15, 317, 354 13, 595. 641 13,126, 961 18.23 18.05 16.97 16.09 14, 938, 964 13, 649,426 10, 301, 024 10, 513,763 17. 46 16. 08 12. 86 12. 88 628, 003 632, 654 637, 240 628, 163 92 54 77 74 85 * • 224 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE SHOWING, BY GEOGRAPHICAL DIVISIONS, THE RESERVE CITIES AND CENTRAL RESERVE CITIES, THE NUMBER OF BANKS IN OPERATION, ETC.—Continued. [Division No. 5.—Ohio, Indiana, Illinois, Michigan, and Wisconsin, excluding reserve cities.] Dates. Reserve held. A m o u n t of reserve reof quired, 15 banks per cent of net deposits. Amount. Ratio. ! Classification of reserve held. "With reserve Five agents (9 per cent). per cent ; 1 redempRatio. Amount. | Ratio, tion fund. Lawful money (6 per cent). Amount. 1885. Mar. 10.. May 6 ... July 1 - Oct.l ... Dec. 24 . 567 568 567 570 570 $15, 800, 692 15, 954, 519 16,118, 869 16, 501,187 16, 497,191 $36, 876,186 35,963,168 36,162, 987 37, 477, 345 36, 226, 910 1886. Mar. 1 . . June 3 . Aug. 27. Oct. 7... Dec. 28 . 571 575 582 580 576 17,184, 663 17, 452, 850 18, 315, 951 18, 438,101 18, 828. 474 38, 467, 958 36, 682, 622 41,364,412 39, 891, 410 40, 251, 058 33.57 31.53 33. 88 32.45 32.07 16, 692, 494 17, 849, 509 17,118. 272 17, 974, 624 18, 082, 937 14.57 15.34 14.02 14.62 14.41 20, 17, 22, 20, 20, 284, 810 426, 446 867, 315 594, 220 974,170 17.78 14.98 18.73 16.75 16.71 1, 490, 654 1, 406, 667 1, 378, 825 1, 322, 566 1,193,951 1887. Mar. 4 . . May 13 . Aug. 1. Oct. 5 . . . Dec. 7 .. 582 584 594 598 600 19, 446, 236 20,082, 778 20, 814, 218 20, 570, 959 20, 237, 953 42,186, 629 41, 866, 938 44, 475, 533 40, 983, 916 39,116, 212 32.54 31. 27 32. 05 29.88 28.99 18, 037, 638 19, 111, 576 18, 401, 230 19,171, 016 18, 425, 529 13.91 14.27 13.26 13.98 13.66 23,012,354 21, 673, 404 25, 021, 687 20,771,852 19, 629, 800 17.75 16.19 18.03 15.14 14.55 1,136, 637 1, 081, 958 1, 052, 616 1, 041, 048 1, 060, 883 1888. Feb. 14 . Apr. 30. J u n e 30 Oct. 4 . . . Dec. 12 . 603 606 609 611 615 20, 788, 469 20, 795, 516 20, 756, 627 21,297,373 21,150,669 40, 918,158 39,175, 386 39, 806, 200 42, 224,552 42, 096, 506 29.52 28. 26 28.77 29.74 20.85 18.290,041 18, 869, 677 17, 754, 453 18, 466, 510 18, 089, 328 13.20 13.61 12.83 13.01 12. 83 21, 600, 663 19, 298, 656 21, 045, 051 22, 763, 433 23, 025,148 15.59 13.92 15.21 16.03 16.33 1,027,454 1, 007, 053 1, 006, 696 994,409 982, 030 1889. Feb. 26 . May 13 . July 12. Sept. 30. Dec. 11 . 620 622 624 626 630 22,108,190 22, 532, 982 23,197, 384 23,355,251 23,037,979 46, 152, 837 45, 216. 707 48, 488, 996 47, 310,106 43,421,760 31.31 30.10 31.35 30.39 28.27 18,299,545 19, 984,145 20,064,249 19, 052,153 19, 053, 439 12.42 13.30 12.97 12.24 12.41 26, 888, 639 24, 287, 408 27, 489, 594 27, 327, 970 23, 439,190 18.24 16.17 17.78 17.55 15.26 964, 653 945,154 935,153 929, 983 929,131 1890. Feb. 28 .. May 17 . July 18.. Oct. 2... Dec. 19 . 635 644 650 650 655 23,999,083 ! 24,458, 347 25,234, 240 25, 804, 618 25,120, 570 47, 348, 221 45, 815, 953 47, 608, 327 48, 563, 276 46, 041, 343 29.59 28.10 28.30 28.23 27.49 19, 385,160 19,214,280 19,719, 230 20, 149, 638 20, 682, 244 12.12 11.78 11.72 11.72 12.35 27,043,136 25, 672, 588 26, 955, 389 27, 493, 759 24, 449, 070 16.90 15.74 16. 02 15. 98 14.60 919, 929, 933, 919, 910, 1891. Feb. 26 .. May 4 . . July 9.. Sept. 25. Dec. 2 ... 654 657 660 663 666 26, 052, 632 26, 750, 845 27, 027, 984 28, 583, 963 28,159, 822 52, 449, 599 50, 936, 356 49, 363, 907 56, 669,154 52, 506, 985 30.20 28. 56 27.40 29.74 27.97 21, 751,135 22, 312, 368 22, 496, 481 23,177, 047 22, 416, 277 12.52 12.51 12.49 12.16 11.95 29, 785, 731 27, 709, 586 25, 973, 487 32,572,518 29,173,153 17.15 15.54 14.41 17.06 15.54 912, 733 914, 402 893,939 919,589 917,555 1892. Mar. 1 . . . May 17 .. July 12. Sept. 30.. Dec. 9 ... 672 674 678 680 683 29, 30, 30, 31, 31, 753,103 056, 393 626, 267 582, 801 321, 325 60,508,503 60,761,493 62,196, 543 62, 336, 227 56, 657, 506 30.50 30.32 30.46 29.61 27.13 22,473, 202 23, 505, 074 23, 899, 694 24, 987, 436 24, 707, 288 11.33 11.73 11.71 11.87 13.36 37,105,516 36, 314,168 37, 353, 557 36, 395,159 30, 947, 479 18.71 | 929, 785 18.12 | 942, 251 18. 29 943, 292 17.29 ! 953. 632 9.79 | 1, 002, 739 690 695 31, 702, 621 31, 387, 409 27, 270, 886 23, 399, 510 23,681,554 56, 060, 568 50, 916, 834 50, 291, 654 49, 458, 283 52, 722, 871 26.53 24.33 27.66 31.70 33.39 24, 647, 925 25, 604,190 27, 220, 984 27, 888, 005 24, 930, 531 11.66 12.24 14.97 17.88 15.79 30, 368, 515 24, 258, 308 21. 992, 775 20; 450, 669 26, 654, 991 14.37 11.59 12.10 13.11 16.88 1, 044,128 1, 054, 336 1, 077, 895 1,119, 609 1,137, 349 697 697 24, 25, 26, 27, 57, 976, 658 60, 520, 714 60, 886, 272 61, 812, 404 34.82 35.19 34.62 34.07 24,558,071 25,718,658 25,019, 978 24,986,616 14.75 14.95 14.23 13.77 32, 258, 552 33,671,579 34, 720,181 35, 693, 851 19.37 19.58 19.74 19.68 1,160, 034 1,130,477 1,146,114 1,131, 937 1893. Mar. 6 ... May 4 ... July 12.. Oct. 3 . . . . Dec. 19 .. 1894. Feb. 28 .. May 4 . . . July 18.. Oct. 2.... Per ct. Per ct. Per ct. \ 35.07 $16, 882, 609 16.03 $18, 475, 898 17.54 $1,517,679 33.81 17,117,106 16.09 17, 336, 757 16.30 1, 509, 305 33.65 15,936,895 14.83 18, 738,134 17.45 1, 487, 958 34.07 17, 019, 462 15.47 18, 934, 890 17.21 1, 522, 993 32.93 16, 050, 698 14.59 18, 653, 616 16.96 1, 522, 596 j 976, 429 797,115 382, 398 212,122 925 085 708 879 029 REPORT OF THE COMPTROLLER OF THE CURRENCY. 225 TABLE SHOWING, BY GEOGRAPHICAL DIVISIONS, THE RESERVE CITIES AND CENTRAL RESERVE CITIES, THE NUMBER OF BANKS IN OPERATION, ETC.—Continued. [Division No. 6.—Iowa, Minnesota, Missouri, Kansas, and Nebraska (Omaha transferred to division No. 9, October 5, 1887; Kansas City and St. Joseph, transferred to division No. 9, May 13, 1887), excluding reserve cities.] Classification of reserve held. Reserve held. Dates. 1885. Mar. 1 0 . . . May 6 . . . . Julyl.... Oct. 1 . . . . Dec. 24 . . . 1886. Mar. 1 . . . . June 3 . . . Aug. 27... Oct7 Dec. 28 . . . 1887. Mar. 4 . . . . May 1 3 . . . Aug. 1 Oct. 5 Dec. 7 . . . . 1888. Feb. 14 .. Apr. 30.. June 30 .. Oct. 4 Dec. 12 . . . 1889. Feb. 26 . . . May 1 3 . . . July 12... Sept. 30... Dec. 11 . . . 1890. Feb. 28 . . . May 17 . . . July 18 *.. Oct. 2 Dec. 19 . . . 1891. Feb. 26 . . . May 4 July 9 1 . . . Sept. 25... Dec. 2 1892. Mar. 1 . . . . May 1 7 . . . July 12... Sept. 30... Dec. 9 1893, Mar. 6 . , . . May 4} .. J u l y 12... Oct. 3 Dec. 19... 1894. Feb. 28 . . . May 4 July 18... Oct. 2 . . . . Amount of reserve required, 15 of per cent of banks net deposits. No. Amount. Lawful money (6 per cent). Amount. "With reserve Five agents (9 per cent). per cent redempRatio. Amount. Ratio. tion fund. Per ct. 29.45 29.73 29.96 27.30 27.30 $8,442, 274 8, 803, 813 8, 868, 049 8, 896, 805 9, 309, 286 Per ct. 13.76 13.69 13.16 12. 68 13.28 $9,131, 647 9, 806, 853 10,827,681 9, 768, 829 9, 315,121 Per ct. 14.89 15.25 16.07 13.92 13.29 $490, 230 502,330 490, 643 494,093 503,777 Ratio. 336 340 346 359 363 $9, 202,146 $18, 064,151 9, 643, 675 19,112, 996 20,186, 373 10,105, 532 10, 526, 279 19,159, 727 10, 511, 542 19,128,184 377 391 404 406 418 10, 872, 988 12, 203, 046 12, 349, 300 12,377,733 12, 811, 418 19, 373, 302 23, 020, 432 24, 464,927 21, 931, 867 23, 073, 002 26.73 28.30 29.72 26.58 26.99 8, 838,140 11, 204, 906 10, 229, 545 11,019,342 11,752,951 12.19 13.77 12.43 13.35 13.76 10,043,854 11, 339, 220 13,747,424 10, 422, 066 10,848,107 13.86 13.94 16.70 12.63 12.70 491, 308 476, 306 487,953 490,459 451,944 427 428 438 455 462 14,184. 873 13, 368; 183 12,435,313 12, 258, 402 11, 440, 774 27, 752, 343 26, 723, 837 25, 056, 695 22, 367, 310 20, 023, 408 29.35 29.99 30. 22 27.37 26.25 11, 860, 366 12, 010, 369 10,458,690 10, 275, 484 9, 831,122 12.54 13.48 12.62 12.57 12.89 15, 441, 590 14, 290, 849 14,175, 769 11, 660, 633 9, 753, 960 16.33 16.04 17.10 14.27 12.79 450,387 422, 619 422,236 431,193 438, 326 460 468 471 476 480 11,915,472 12,191,175 12, 423, 419 12, 646, 574 12,102, 288 24,167, 651 24, 217, 974 25, 363, 996 23, 898, 707 20,169, 802 30. 42 29.80 30.62 28.35 25.00 10, 418, 840 10, 851, 912 10, 547,101 10, 011, 697 10,197,298 13.12 13.35 12.73 11.87 12. 64 13, 308, 830 12, 924, 379 14, 367, 358 13, 436, 321 9, 520, 418 16.75 15.90 17.35 15.94 11.80 439, 981 441, 683 449, 537 450,689 452,086 487 490 497 503 516 12, 420, 637 12,585,262 12, 925, 286 13,015,631 13,209,115 22, 812, 398 23, 606, 074 24, 386, 425 23, 831, 360 23, 663,534 27.55 28.13 28.30 27.46 26.87 10, 019,197 10, 460, 419 10, 374, 952 9, 352, 807 10,728,448 12.10 12. 47 12.04 10.78 12.18 12, 336, 471 12, 687, 257 13, 553, 976 14, 013, 997 12, 464, 371 14. 90 15.12 15.73 16.15 14.15 456, 730 458,398 457,497 464, 556 470,715 522 531 522 529 526 14,037, 495 14, 672, 003 11, 820, 328 12, 650, 537 12, 020, 926 26, 557, 782 28,417, 458 23, 587, 972 25, 045, 606 21, 890, 313 28.38 29.05 29.93 29.70 27.32 10,142, 221 10,129,389 8, 660, 227 9, 037, 219 9,113, 606 10.84 10.36 10.99 10. 72 11.37 15, 945, 079 17, 803, 225 14,559,610 15, 542, 676 12,303,422 17.04 18.20 18.48 18.43 15.36 470, 481 484,844 462,949 465, 711 473, 285 525 526 525 534 540 12,152, 020 12, 807, 895 12, 271, 889 12, 709, 609 12, 764, 884 24,124, 918 24, 484, 899 21,873,399 24,150, 965 23, 452, 871 29.78 28.68 26.74 28.53 27.56 9,109, 692 9, 383,476 9, 271,189 8, 975, 641 9, 081,102 11.24 10.99 11.33 10.59 10. 67 14, 548, 746 14, 634, 337 12,140, 446 14, 702, 969 13, 887, 498 17.96 17.14 14.84 17.35 16.32 466, 480 467, 086 461, 764 472, 355 484, 271 540 539 541 543 544 14,021,847 14,113,353 14,379, 925 14, 520,103 14, 516,112 28, 524, 563 28, 839, 733 29, 371, 591 29.190, 867 2< 440,147. 30.51 30.65 30. 64 30.16 25.25 9, 292, 759 9, 659. 618 9, 901, 204 9, 940, 427 9, 899, 800 9.94 10.27 10.33 10.27 10.23 18, 745, 334 18, 696, 824 18, 986, 849 18, 768, 907 14, 052, 376 20.05 19.87 19.81 19.29 14.52 486,470 483,291 483, 538 481,533 487, 971 547 547 544 544 541 15, 316, 641 14, 435, 303 12,300,120 10,645,802 10, 327, 038 28, 052, 373 25, 361, 913 23, 245,122 23, 414, 641 22, 062,817 27. 47 26.35 28.35 32. 99 32.03 10, 538, 687 10, 331, 862 10, 983,175 10,771,244 9, 315; 785 10.32 10.74 13. 39 15.18 13.53 17, 025. 851 14, 558, 770 11,796,413 12,166, 739 12,271,722 16.67 15.13 14.39 17.14 17.82 487,865 471, 281 465, 534 476, 658 475,311 536 11,159, 228 11, 558, 492 11,517,379 11,797,462 25, 537, 094 27,118,431 27,506, 381 27, 039,158 34. 33 35.19 35.82 34.38 8, 652, 012 9, 232, 518 9,470,138 9,160, 378 11.63 11.98 12.33 11.65 16, 406, 963 17, 417,113 17, 563, 941 17,413,489 22.06 22. 60 22. 87 22.14 478,119 468, 799 472,302 465, 291 529531 521 * St. P a u l and Minneapolis transferred to division No. 9 from J u l y 18, 1890. f Des Moines transferred to division No. 9 from J u l y 9,1891. I Lincoln transferred to division No. 9 from May 4,1893. 8182 CUR 15 226 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE SHOWING, BY GEOGRAPHICAL DIVISIONS, THE RESERVE CITIES AND CENTRAL RESERVE CITIES, THE NUMBER OF BANKS IN OPERATION, ETC.—Continued. [Division No. 7.—Colorado, Nevada, California, and Oregon, excluding reserve'cities.] 7)ates. I Amount of No. reserve reof quired, 15 banks percent of net deposits. Reserve held. $2, GG3, 353 2, 683, 438 2,721,004 2, 920, 866 3.189, 900 Mar.l.... June 2 . . Aug. 27 . Oct. 1 ... l>ec. 28 . . 3, 329, 624 3, 598, 749 3, 863, 286 3,971,589 4,329.961 Ratio. Amount. 1885. Mar. 10... May G.. . July 1 . . . Oct. 1 . . -. Dec. 24 . . 1S£6. $5, 978, 551 5, 699, 692 5, 697, 478 6, 635, 005 7, 038, 522 i Per ct. 33.67 31.86 31.41 34.07 33. 10 Classification of reserve held. Lawful money (6 per cent). With reserve agents (9 per cent). Five per cent redemp- Amount. Ratio. $3, 450, 529 3, 336, 534 2, 966, 876 3, 260,554 3,732, 709 Per ct, Per ct. 19. 43 $2,419,586 13.63 18.65 2, 256,198 12.61 16. 36 2,626,141 14.48 16.74 3, 264, 417 16.76 17.55 3,192, 688 15.01 7, 529, 982 33. 92 3, 947, 515 17.78 7,672,897 31.98 4, 034, 927 16.82 8, 288, 012 I 32.18 4, 096, 387 15.91 7, 896, 910 1 29. 83 4,104, 213 15.50 9,221,771 31.95 5, 276, 940 18.28 Amount. Ratio. tion fund. $108, 436 106, 960 104, 461 110, 034 113,125 653 877 587 731 979 15. 61 14.70 15.82 13.87 13.26 116, 814 110,093 116, 038 119, 966 115,853 4, 504, 028 5,438, 612 5,548,590 G, 385, 396 5, 218, 778 14.45 15. 46 14.55 15.13 12.44 113,003 611,053 116, 507 122,506 122,973 3, 465, 3, 527, 4, 075, 3, 672, 3, 828, 1867. Mar. 4 . . . May 13.. Auc;. 1 . . Oct. 5 . . . Dec. 7 . . . 4, 674, 444 5, 276. 435 5, 719, 220 0, 330, 097 6,291,325 10, 289, 333 11,540,554 11, 799, 910 13, 784, 605 12, 882, 230 33.02 32. 81 30.95 32.60 30.71 5, 672, 302 5, 990, 889 6,134, 729 7, 276, 703 7, 540, 479 6,149.731 6, 042, 609 5, 924, 963 6, 03G, 317 5, 935. 642 12,446, 602 11,396,749 11. 634, 948 12, 503, 944 11.717,229 30.36 28.29 29.46 31.07 29. 61 7,457.014 j 18.19 6,557,882 j16.28 6,338,182 16.05 6.338,048 !16.05 6,780.265 i17.16 4, 861, 593 11.86 4, 708,066 11.69 5,171,147 13.09 G, 034, 811 15.00 4, 800, 478 12.13 128, 295 130,801 125, 619 131,085 127, 486 18.20 17.03 16.09 17.24 17.98 1888. Feb. 14 . . Apr. 30.. June BO. Oct. 4 . . . Dec. 12.. 1889. Feb. 26.. May 13.. July 12 Sept. 30 . Dec. 1 1 . . 1880. 98 102 102 107 109 6,215,145 G, 418, 048 G, 469, 509 6, 871, 082 6, 822, 808 13,833,283 13 G74,031 14, 125,458 15 136, 846 13 759, 793 33.39 31. 90 32. 75 33. 04 30. 25 7,408,611 7, 084, 911 7,124, 899 6, 826, 811 7,133, 411 17.88 16.56 16.52 14.90 15.16 i 6, 297, 797 15.20 6,459,741 15.10 6,870,159 15.93 8,181, 249 17.86 6, 489, 222 14.27 126,875 129,379 130,400 128, 786 137,160 Feb. 28.. May 17.. July 18.. Oct. 2 ... Dec. 19 . . 111 114 118 120 12 5 6, 985, 597 7, 280, 605 7,407,945 7, 973, 078 7, 220, 289 I 14, 398, 961 30.92 14. 457, 219 29. 79 14, 436, 316 29. 23 15. 402, 798 28.98 12, 965, 412 26. 94 7,499,805 7, 148. 956 I 6,844,093 7,188, 163 7, 689, 352 16.10 14.73 13. 85 13. 52 15.97 6, 756, 913 7,166, 979 7, 450,124 8, 070,144 5,126, 361 14.51 14.77 15.08 15.18 10.65 142, 243 141, 284 142,099 144, 491 149, 699 1891. Feb. 20 . . May 4 . . . July 9 . . . Sept. 25 . Dec. 2 ... 12:5 127 125 125 120 7, 002, 973 7,441, 637 7, 253, 722 7, 410, 697 7, 230, 867 13,974,031 14, 707, 475 13, 418, 378 14,066.132 13, 202; 170 20.93 29. 65 29.75 28.47 27.51 7, 904, 310 8, 210, 360 7, 670, 382 7,112, 951 7, 049, 001 16.93 16. 55 15.86 14.40 14.62 5, 916, 675 6, 335, 458 5, 590, 972 6, 782, 556 6, 038,40G 12.67 12.77 11.56 13.73 12.53 153, 046 161, 657 157,024 170, 605 174, 763 127 129 129 130 129 7. 512, 533 7. 708, 768 7,811, 979 8, 061, 098 7, 864, 845 10,105, 600 16. 803,460 16, 013, 909 17,134, 307 15, 736, 998 32.16 32. 70 30.75 31.88 30.01 7, 878, 254 7, 998, 033 7, 837, 323 7, 956, 810 8, 226,157 15.73 15.56 15.05 14.81 15.69 8, 045, 713 8, 621, 376 7, 992, 300 8, 998, 901 7, 335, 308 16.06 16.78 15.35 16.75 13.99 181,633 184,051 184, 286 178, 596 175, 533 129 131 118 125 125 7, 832, 933 7, 781,155 5, 360, 631 5, 276, 029 5, 36C, 980 15,397,497 13, 821, 022 9, 017, 696 10, 924, 705 12, 550, 126 29.48 26.64 25.23 31.00 35.08 8, 326, 499 8, 053, 327 6, 735, 237 7,822,217 7,491,787 15.95 15.52 18.85 22.24 20.94 6,896,302 j13.21 5,589,749 | 10.78 2,123,215 5.94 2,937,809 8.35 4,895,069 13.68 174, 696 177,946 159, 244 164, 679 163, 270 125 124 121 117 5, 763, 729 6,154, 034 5, 958, 553 6, 260, 392 14,554,051 15,417, 503 13, 985, 033 15, 205, 845 37.88 37.58 35.21 36.43 8,107, 297 7, 973, 700 7,910,353 7, 981,162 21.10 19.44 19.91 19.12 6,278,187 7,278,855 5, 923,194 7,072,655 1892. Mar.l... May 17.. July 12... Sept. 30 . Dec. 9 . . . 1893. Mar. G . . May 4 . . July 12 . Oct. 3 . . . I>ec. 19.. 1804. Feb. 28-H a y 4... July 18. Oct. 2... 16.34 17.74 14.91 16.95 168, 164, 151, 152, 565 942 485 028 REPORT OF THE COMPTROLLER OF THE CURRENCY. 227 T A B L E SHOWING, B Y G E O G R A P H I C A L D I V I S I O N S , T H E R E S E R V E C I T I E S AND CENTRAL R E S E R V E C I T I E S , T H E N U M B E R O F BANKS I N O P E R A T I O N , ETC.—Continued. [Division No. 8.—Arizona, North Dakota, South Dakota, Idaho, Montana, New Mexico, Utah, Washington, Wyoming, Oklahoma, and Indian Territory.] Dates. A m o u n t of No. reserve reof quired, 15 banks per cent of net deposits. Reserve held. Amount. 1885. 88 Mar. 1 0 . . . 89 May 6 * 92 July 1 94 Octl Dec. 24 . . . 107 1886. $2,132,223 2,124,749 2, 317, 930 2, 492, 432 2, 633, 914 Ratio. Classification of reserve held. Lawful moiley (6 per cen Amount. With reserve Five agents (9 per cent). per cent redempRatio. Amount, Ratio. tion fund. •)• $3, 703, 384 3, 587, 997 3, 939, 596 4-, 420, 239 4, 881, 391 Per ct. 26.05 25.33 25.48 26,60 27.80 $2, 525, 590 2, 387, 887 2, 354, 579 2, 600, 691 3,166, 234 Per ct. 17.77 16.86 15.24 15.65 18.03 $1, 068, 609 1, 089,153 1, 473, 460 1,704, 733 1, 594, 293 Per ct. 7.52 7.69 9.53 10.26 9.08 $109,185 110,957 111, 557 114, 815 120, 864 8.74 8.04 10.97 9.36 8.25 123, 977 125, 339 125, 335 H9, 045 119,829 Mar. 1 June 3 Aug. 2 7 . . . Oct. 7 Dec. 28 . . . 1887. 107 109 113 114 111 2, 2, 2, 2, 2, 643, 745, 615, 675, 852, 604 657 777 213 550 4, 716, 817 4,688,187 5,173, 789 5,149, 624 5, 258,108 26.86 25.61 29.67 28.87 27. 65 3, 057, 426 3, 091, 659 3,135, 269 3, 360, 609 3, 560, 333 17.41 16.89 17.98 18.79 18.70 1, 535, 412 1,471,191 1, 913,185 1, 669,970 1, 577, 946 Mar. 4 May 13. . . Aug. 1 Oct. 5 Dec. 7 1888. Feb. 14 . . . Apr. 3 0 . . . J u n e 30... Oct. 4 Dec. 12 . . 121 125 128 128 130 3, 019, 3, 258, 3,.5O1, 3, 630, 3, 787, 568 730 233 696 621 4, 961, 765 4,782,756 5, 626, 017 5, 730, 545 6, 290, 797 24.65 22.02 24.13 23.68 24.91 3.418, 756 3; 357, 718 3,492, 525 3, 715,196 4, 255, 601 16. 98 15.46 14.96 15.35 16.85 1, 1, 2, 1, 1, 601 545 740 860 315 7.06 6.00 8.57 7.80 7.56 121.408 121. 493 122, 752 126,489 126, 881 131 130 130 132 131 3, 779, 467 3, 824, 435 3, 9"2,189 4, 461, 321 4, 552, 960 5, 791, 312 5,935 3^3 6, 292, 050 7, 758.182 7, 853, 939 22.98 23.28 23. 76 26.08 25.88 3, 874, 586 3, 887, 931 3, 874,153 4, 241, 947 4, 599, 390 15.38 15.25 14.63 14.26 15.15 1,787,096 1, 919,790 2, 289. 537 3, 386, 255 3,124, 805 7.09 7.53 8.65 11. 39 10.29 129.630 127. 652 128.360 129. 980 129,744 133 138 144 151 152 4, 782 884 5. 050 912 5, 311, 411 5,928 263 6, 001, 950 7, 894. 311 8, 813, 862 9,191, 020 10, 555, 490 9,742,120 24.76 26.18 25.96 26.71 24.35 4, 617, 893 4, 829, 576 4, 849,185 4, 7^8, 295 5, 648, 649 14.48 14.34 13.69 12.09 24.12 3,143, 660 3, 847, 235 4, 206. 523 5, 633, 344 3, 942, 902 9.86 11.43 11.88 14. 25 9.85 132, 758 137, 051 135, 312 143, 851 150,569 159 166 174 188 198 6, 072, 253 6, 366,800 6. 56^ 1x2 7,023 128 6, 766, 459 10,551,559 10,108,136 10 843 892 11,958,439 10,652,105 26.07 23.81 24.77 25.54 23.61 5, 958, 841 5, 760,189 5, 911,199 6,157, 780 6, 667, 228 14.72 13.57 13.50 13.15 14.78 4, 440, 876 4,188, 093 4, 760, 076 5, 614, 817 3, 793, 564 10.77 9.87 10.87 11.99 8.41 151, 842 159.854 172, 6 7 185, 842 191, 313 203 210 216 224 226 6. 598.191 6 6^8 807 6 689. 0^9 6, 894,169 7, 229, 641 11,364,659 11,160,782 10 8"8, 920 12. 043, 3*1 13, 344, 276 25.84 25.07 24.40 26.20 27.69 6, 748, 404 15.34 6, 452, 0*5 14, 49 6,181, 605 13.86 6, 036, 951 13.13 6, 841, 534 14.19 4,414, 375 4, 502, 293 4,488,131 5, 790, 699 6, 279,127 10.04 10.11 10.06 12.60 13.03 201,880 206,414 209,184 215, 721 223, 615 Mar. 1 . . . . May 1 7 . . . Jttfy 1 2 . . . Sept. 3 0 . . . Dec. 9 227 234 237 240 242 7 230 7 4LL 7 8r3 8 260 8, 243, 909 5*7 692 13,164,123 13 815.371 14 409, 298 15, 860 840 14, 289, 922 27.31 27.96 27. 45 28.80 26.00 6, 819, 040 7,279,974 7, 035, 463 7,179, 884 7,846, 416 14. ±5 14.73 13.40 13.04 14.28 6,120, 218 6, 306, 427 7,143, 404 8, 446, 721 6, 204, 449 12. 70 12.76 13.61 15.34 11.29 224, 865 228, 970 230, 431 234,235 239, 057 1893. Mar. 46 .. .. .. .. May Jiuy 12... Oct. 3 Dec. 19 . . . 246 248 233 217 222 7, 876, 564 7,763 764 6. 2 7 700 4, 620. 530 5, 044, 898 13, 031, 248 11,539,126 9, 729, 507 8, 831, 805 10, 856, 860 24.82 22.29 23. 47 28.67 32.28 7, 633, 693 6, 773, 232 6, 525, 046 5, 869, 298 6, 243, 782 14.54 13.09 15.74 19.05 18.56 5,160, 596 4, 525, 880 2, 983, 012 2, 760, 584 4, 402, 746 9.83 8.74 7.20 8.96 13.09 236, 959 240, 014 221, 444 201, 923 210,331 1894. Feb. 28 . . . May 4 July 18... Oct 2 223 221 218 214 5, 528 192 5,592 865 5, 654 129 5, 846,185 11, 354, 886 11,091,088 11, 256, 785 12, 230,132 30.78 29.75 29.86 31.38 6, 508, 765 6, 316, 994 5. 866, 686 5, 331, 584 17.66 16.94 15.56 13.68 4, 630, 344 4, 557, 594 5,175, 485 6, 676, 883 12.56 12.22 13.73 17.13 215,779 216, 501 214, 614 221, 665 1889. Feb. 26 . . . May 13 . . . July 1 2 . . . Sept. 30... Dec. 11 . . . 1890. Feb. 28 . . . May 1 7 . . . July 18-.. Oct'.2t-... Dec, 19 . . . 1891. Feb. 26 . . . May 4 July 9 Sept. 2 5 . . . Dec. 2 1892. 593 5L1 * Oklahoma included from July 18, 1890. 421, 303, 010; 888, 908, t Indian Territory included from Oct, 2,1890. 228 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE SHOWING, BY GEOGRAPHICAL DIVISIONS, THE RESERVE CITIES, THE NUMBER OF BANKS IN OPERATION, ETC.—Continued. Division No. 9.—Reserve cities—Boston. Albany, Brooklyn, Philadelphia, Pittsburg, Baltimore, Washington, New Orleans, Louisville, Cincinnati, Cleveland, Detroit, Milwaukee , Des Moines, St. Paul, Minneapolis, Kansas City, St. Joseph, Lincoln, Omaha, and San Francisco.] Dates. Amount of No. reserve reof quired, 25 banks per cent of net deposits. Reserve held. Amount. 1885. Mar. 10... May 6 July 1 . . . . Oct. 1 Dec. 24 . . . 202 202 202 203 202 $83, 462, 537 $118, 522, 306 86, 628, 766 123, 962, 577 89,118, 594 123, 423, 045 91,118,639 122,186, 751 91,151,185 117, 043, 608 Classification of reserve h(ild. Lawful mon(iy (i2fc W i t h reserve Five per cent ). agents (12^pe r cent). per cent Ratio. redempRatio. Amount. Amount. Ratio. tion fund. Per et. Perct. Perct. 35.50 $74, 383, 404 22.28 $41, 172, 443 12. 33 $2, 966, 459 35.77 23.12 80, 109, 098 40, 912, 049 11. 81 2, 941, 430 34. 62 79, 828,139 22.39 40, 661, 809 11. 41 2 933, 097 33.52 76, 907, 632 21?10 42, 402, 600 11. 63 2, 876, 510 32.11 74, 674,927 20.48 39, 551, 479 10.88 2, 817i 202 1886. Mar. 1 . . . . June 3 . . . Aug. 27... Oct. 7 Dec. 28 . . . 1887. 205 212 215 217 218 94, 506, 304 96, 810, 237 93, 802, 959 95, 363, 719 94, 305,102 124,034. 337 122, 784i 157 110,584,456 113,951,757 112, 821, 235 32.81 31.71 29.42 29.88 29.91 77, 446, 733 80, 738, 933 68, 232, 506 70, 489,135 70, 633, 785 20.49 20. 85 18.19 18.48 18.72 43, 904, 247 39, 567, 423 40, 072, 689 41, 271, 509 40, 371, 942 11. 61 10.22 10.68 10. 82 10.70 2, 683, 357 2, 477, 801 2, 279, 261 2, 191, 113 1, 815, 508 Mar. 4 May 13 * . . Aug.lt--. Oct. 5 Dec. 7 . . . . 220 210 221 223 223 99, 518, 660 86, 270, 869 83, 889,166 84, 621,164 84, 031, 602 124,447,510 106,121, 301 98, 389, 974 100,714, 633 97,132,024 31.26 30.75 29.32 29.75 28.90 73,631,556 64, 496, 954 59, 504, 534 59,524,848 58, 086, 213 18.50 18.69 17.73 17.59 17. 28 49, 40, 37, 39, 37, 217, 253 210, 839 672, 349 993, 709 957, 340 12. 11. 11. 11. 11. 36 65 23 82 29 1, 598, 701 1, 413, 508 1, 213,090 1 196, 076 1 088, 471 222 221 224 224 223 88, 281, 912 88,841, 975 93,119,904 96, 217, 307 92,796,351 107, 045, 750 105, 914, 479 113,399,111 116, 864, 734 110,791,225 30. 31 29.80 30. 44 30. 36 29.85 61, 380, 008 61, 211, 749 66, 493, 977 64,447,941 62,971,624 17.38 17. 22 17.85 16.75 16.96 44, 43, 45, 51, 47, 647, 555 718, 493 949, 662 508, 038 013, 696 12 63 12! 30 12. 34 13. 38 12. 67 1 018, 187 984, 237 955, 472 908, 755 805, 905 223 224 226 228 229 100,132, 732 103, 814, 057 106, 953, 841 104, 752, 379 99,449, 783 129,178,251 132,810,931 131,366,426 121, 912,119 112,113,813 32. 25 31.98 30.71 29.10 28.18 66, 585, 765 72, 531, 581 71, 388, 356 64, 592, 017 63, 330, 689 16. G2 17.47 16.69 15.42 15.92 61, 59, 59, 56, 48 860, 599 619, 008 343, 308 712, 959 173,145 15. 44 14. 36 13. 87 13. 54 12. 09 731, 887 660, 342 634, 762 607, 143 609, 979 234 239 259 259 258 102, 211, 212 106, 243, 919 115, 477, 384 114,438,382 104, 320, 461 119,560,033 122,780, 265 131, 308, 097 129,777,284 120,929, 702 29.24 28.89 28.43 28.35 28.98 65, 270, 448 66, 575, 944 71, 778, 457 68,071,517 69, 599, 015 15.96 15.67 15.54 14.87 16.68 53 55 58 60 50 684, 545 566, 943 806, 133 999, 210 638, 370 13. 13 13 08 12 73 13 33 12. 14 605, 000 637, 378 723, 507 706, 557 692, 317 260 262 265 265 264 109, 081, 971 112, 226, 065 110, 503, 938 112, 977, 749 112,935, 945 131, 659, 897 136, 955, 966 134,147, 401 138, 786, 632 142, 314, 957 30.17 30. 50 30. 35 30.71 31.50 74,395,302 78, 363, 336 78,122, 409 76, 990, 726 76, 766, 567 17.05 17.46 17.67 17.04 16.99 56 569, 349 57 889, 288 55, 317, 148 61 005, 875 64 710, 249 12.96 12 90 12 51 13 50 14 32 695 246 703 342 707, 844 790, 031 838, 141 1888. Feb. 14 . . . Apr. 3 0 . . . June 30 . . Oct. 4 Dec. 12 . . . 1889. Feb. 26 . . . May 13 . . . J u l y 12... Sept. 30... Dec. 11 . . . 1890. Feb. 28 . . . May 17... J u l y 18 + . . Oct. 2 Dec. 19 . . . 1891. Feb. 26 May 4 ... July9§... Sept. 2 5 . . . Dec. 2 . . . . 1892. Mar. 1 . . . . May 1 7 . . . J u l y 12... Sept. 3 0 . . . Dec. 9 . . . . 1893. Mar. 6 May 4|| . . J u l y 12... Oot" 3 Dec. 19 . . . 261 262 262 263 265 124,370, 037 130,145, 842 133, 586, 733 129, 825, 359 123, 799, 238 177,149,110 184, 027, 948 178, 591, 989 156, 098, 942 142, 005, 438 35.61 35.35 33. 42 30.06 28.68 84, 522, 051 97, 255, 972 96, 347, 405 82,164, 838 77, 869, 593 16.99 18.68 18.04 15.82 15.72 91 717, 863 85, 825, 510 81 254, 538 72 924, 409 63 099, 335 18 44 16.49 15 21 14 04 12 74 909 196 946 466 990, 046 1 009, 695 1 036 510 265 269 269 268 270 118, 326,127 116, 908, 521* 101,124, 664 98,151, 349 114,915, 956 139, 488, 339 133, 535,121 118,104,158 129, 588, 769 166, 211, 818 29.47 28.56 29.20 33.01 36.16 75, 78, 68, 76, 88, 20G, 055 843, 637 417, 483 427, 655 210, 775 15.89 16.86 16.91 19.47 19.19 63 183, 047 53 553, 912 48; 517, 867 51 570, SS7 76 443, 970 13 11 11 13 16 1 099, 237 1 137 572 1 168, 808 1 590 577 1 557 073 1894. Feb. 28 . . . May 4 . . . . J u l y 18... Oct. 2 .... 268 268 265 265 122, 841, 810 130, 489, 419 133,438, 084 131, 351, 473 185,707, 407 198,194, 073 196,167, 952 172, 784,452 37.79 37.97 36.75 32.89 93,603,475 97, 502,106 97, 789, 357 84,142,193 19.05 18.68 18.32 16.01 90 99 9G 87 18 45 19.02 18 16 16 60 633, 052 260, 104 919 051 208 198 * Kansas City and St. Joseph included from May 13,1887. t Omaha included from August 1,1887. * Minneapolis. St. Paul, and Brooklyn included from July 18,1890. 6Des Moines included from July 9,1891. || Lincoln included from May 4,1893. 35 45 99 14 63 1 1 1 1 470, 880 431 863 459 544 434 061 REPORT OF THE COMPTROLLER OF THE CURRENCY. 229 T A B L E SHOWING, B Y GEOGRAPHICAL D I V I S I O N S , T H E CENTRAL R E S E R V E C I T I E S , T H E N U M B E R O F BANKS I N OPERATION, ETC.—Continued. [Division No. 10.—Central reserve cities—New York, Chicago, and St. Louisi] New York City. Dates. 1885. Mar. 10 May 6 Julyl Oct. 1 Dec. 24 1886. Mar. 1 June 3 Aug. 21 .... Oct. 7 Dec. 28 1887. Mar. 4 May 13 Aug. 1 Oct. 5 Dec. 7 1888. Feb. 14 Apr. 30 J u n e 30 Oct. 4 Dec. 12 1889. Feb. 26 May 13 J u l y 12 Sept.30 Dec. 11 1890. Feb. 28 May 17 J u l y 18 Oct. 2 Dec. 19 1891. Feb. 26 May 4 July 9 Sent. 25 Dec. 2 1892. Mar. 1 May 17 J u l y 12 Sept. 30 Dec.9 1893. Mar. 6 May 4 J u l y 12 Oct. 3 Dec. 19 1894. Feb. 28 May 4 July 18 Oct. 2 Chicago. St. Louis. Amount Amount Amount of reserve Ratio of reserve Ratio of reserve Ratio No. of required, No. of required, No. of required, of of of bankw. 25 per cent reserve banks. 25 per cent reserve banks. 15 per cent reserve of net deof net de- held. of net de- held. held. posits. posits. posits. Per ct. $73,191, 705 74, 436,136 78,181,211 78, 214, 626 75, 516, 839 Per ct. 40.12 41.48 42.47 36.98 32.76 80, 887, 727 74,187, 977 70, 386, 879 70, 697, 561 73, 607, 025 31.28 30.28 27.46 27.24 29. 89 78, 607, 422 74,921,637 73, 497, 514 71,084, 776 72, 379, 059 28.70 27.64 28.11 28.18 27.18 $16, 993, 940 16, 579, 934 16,161,735 15, 537, 512 30.41 33.14 30. 53 28.80 $2, 280, 864 2,710,600 2, 574, 297 1, 999, 375 36.40 31.89 26.44 29.79 80, 277, 202 79,168, 388 84, 608, 091 85, 539, 988 82, 639, 532 30.29 29.93 30.34 28.16 29.12 16,167, 806 17,822,500 17, 961, 506 17, 332, 756 16, 056, 945 31.68 29. 75 31.37 30.24 30.88 2, 202, 808 2,177,175 2,217,845 1, 970, 308 2, 020, 493 34.05 40.11 42.10 27.07 28.90 91, 069, 618 90, 257, 748 89, 801, 522 84, 536, 699 79, 476, 706 28.72 28. 73 27.08 25.10 26.99 33. 60 35.50 31.79 31.69 30.29 2, 013, 392 1, 885,147 2, 812,114 2, 995, 219 2, 979, 311 42.12 46.75 40.95 26-. 71 24. 80 84, 259, 377 80, 585, 344 81, 702, 359 83,147,968 75,113, 249 26.17 26.39 27.05 27.81 28.11 19, 020, 602 21, 248, 980 30.47 31.01 29.09 29.98 31.42 5, 670, 384 6, 494, 906 6, 800, 814 6, 545, 181 5, 679, 210 28.57 25.03 24.42 21.35 24. 28 84,503,622 81, 835, 203 82, 571, 595 81, 940, 346 88, 258", 830 28.91 26.96 29.93 26.26 28. 69 19, 713, 708 23, 991, 723 32.77 33. 88 31.02 33. 62 31.53 6, 048, 537 6, 248, 857 5, 913, 094 6, 065,187 5, 878, 877 24.49 24.40 23. 78 23.83 27.32 109, 948, 706 109, 335, 717 106,122,173 97, 967, 550 90, 338, 433 29.31 29.23 29.36 26.39 26.89 24, 426. 854 27, 847, 903 25,124, 297 33. 45 33.01 29.77 28.64 30.07 6. 701, 065 6, 961, 804 6, 868, 505 7, 307, 038 6, 639, 856 28.34 28.36 23.61 21.07 21.60 90, 009, 093 86, 253. 700 76,107, 584 77, 492, 888 102, 414, 924 26.34 28.52 25.30 35.17 41.27 25, 249, 086 24, 896, 048 20, 343, 433 21, 439,195 24, 032,574 28.03 29.45 30.61 45.46 45.01 7, 238,137 6, 940, 925 4, 970, 519 4, 476, 918 4, 952, 272 23.39 21.43 22.60 31.95 30.46 112,173, 212 121,819,230 122,156, 930 122, 436, 907 39.70 39.52 37.92 35.20 25, 939, 920 27,117, 033 26, 442. 331 25, 353, 780 44.90 41.26 38.63 33.50 5, 659, 491 5, 697, 327 6, 076, 015 6, 498, 934 32.94 28.81 28.22 24. 55 Per ct. 19 16, 813, 643 19 18, 564, 211 19 19, 411, 765 20 | 19,682,820 20 j 18,500,455 21,034,078 20, 721, 496 18, 398, 815 22, 943,151 23, 216, 492 22,112, 475 28, 594,133 26, 634, 476 230 REPORT OF THE COMPTROLLER OF THE CURRENCY. AVERAGE WEEKLY DEPOSITS, CIRCULATION, AND RESERVE OF THE NATIONAL BANKS OF NEW YORK CITY, AS REPORTED TO THE N E W YORK CLEARING HOUSE, FOR THE MONTHS GIVEN, IN THE YEARS 1888, 1889, 1890, 1891, 1892, 1893, AND 1894, Lial ilities. eelv ended— lleserve. — Circulation. Net deposits. $7, 770,400 $341, 477, 200 336, 495. 600 7, 850, 400 312, 995, 600 7, 892,900, 333, 959, 700 7, 927,700 336, 016, 200 6, 836,400 349, 506, 800 6, 515,300 337. 755, 000 G, 516,700 343, 953, 000 6, 488,700 343, 813, 200 6, 484,500 343, 587, 300 6, 363,200 Total. $349, 344, 320, 341, 342, 356, 344, 350, 350, 349, Specie. Legal tenders. Total. Ratio to liabilities. 247,000 $73, 344, 200 $30, 867, 300 $104, 031, 500 340,000 69, 844, 500 28, 797, 600 98,642,100 888,500 69, 723, 700 28, 238, 900 97, 962, 600 887,400 70,054, 900 26, 320, 600 96, 375, 500 852,600 74,146, 500 24, 994,100 89,140, 600 022,100 74, 411, 300 23, 204, 300 97, 615, 600 271,700 73,901,500 22, 017, 800 95, 919, 300 441,700 81,457, 700 21, 386, 800 102, 844, 500 297,700 81, 212, 600 21, 329, 800 102, 542, 400 950,500 80,140, 200 21, 700, 800 101, 841, 000 Per cent. 29. 79 28.65 30.53 28.02 28.92 27.42 27.86 29. 35 29. 27 29.10 Sept, Sept. Sept. Sept. Sept. Oct. Oct. Oct. Oct. Nov. 1.1888 8,1888 15,1888 22,1888 29,1888 6,1888 13,1888 20,1888 27,1888 3,1888 Sept. Sept. Sept. Sept. Oct. Oct. Oct. Oct. Nov. Nov. 7,1889 14,1889 21,1889 28,1889 5,1889 12,1889 19,1889 26,1889 2,1889 9,1889 3, 961,900 3, 978,100 3,931, 300 3, 945,500 3, 957,100 3, 943,900 3, 893,200 4, 037,400 4,053, 600 3, 991,200 345, 344, 200 346, 601,000 342, 298,800 340, 542,700 334, 991, 500 329, 923, 400 328, 225,600 325, 328,100 325, 635, 600 32i), 106, 700 349, 306,100 350, 574,100 346, 230, 100 344,488, 200 338, 948,600 333, 867,300 332,118, 800 329, 365,500 329, 689,200 324,157, 900 65, 635,100 63, 824, 300 60, 894. 900 60, 375, 900 58, 407, 200 59, 565, 900 62, 537, 900 62, 403, 200 62, 450, 000 61,240,500 31, 687, 500 30, 527,100 29, 468, 400 28, 933, 7C0 27, 257, 900 24, 873, 400 23, 570, 300 22, 715, 200 22, 748, 700 20, 416, 800 97, 322, 600 94, 351, 400 90, 363, 300 89, 309, 600 85, 665,100 84, 439, 300 80,108, 200 85,118, 400 85,198, 700 81, 657, 300 27.86 26.91 26.10 25.93 25.27 25. 29 25.93 25.84 25.84 25.19 Sept. Sept. Sept, Sept. Oct. Oct. Oct. Oct. Nov. Nov. 6,1890 13,1890 20,1890 27,1890 4,1890 11,1890 18, 1890 25,1890 1,1890 8,1890 3, 690,700 3,700 100 3, 585 700 3, 479,300 3, 505 000 3, 521 300 3,518 800 3,497 200 3, 500,800 3, 493 500 309 128,200 304^ 626, 200 309, 181,200 324, 335,300 331, 436, 600 325, 794, 800 320, 667, 900 317, 395, 500 314, 709,700 309, 975, 100 312,818, 900 308, 326,300 312,766, 900 327, 814,600 334, 941,600 329,316, 100 324, 186,700 320, 892,700 318,210, 500 313,468, 600 68, 678, 800 56, 963, 600 63, 588, 600 79, 205, 500 80, 839, 400 73,148, GOO 66, 552, 400 65, 680, 500 66, 088, 800 62, 360, 900 19, 062, 800 19,146, 500 17,403,400 16, 692, 300 15, 353, 900 14, 436, 700 14, 642, 500 15,611,800 16, 334. 300 15,517,400 87, 741, 600 76,110,100 80, 992, 000 95,897, 800 96,193, 300 87, 585; 600 81,194, 900 81,292,300 82, 423,100 77, 878, 300 28.05 24.68 25. 90 29.25 28. 72 26.60 25.05 25.33 25. 90 24.84 Sept. Sept, Sept. Sept. Oct. Oct. Oct. Oct. Oct. Nov. 5,1891 12,1891 19,1F91 26,3891 3,1891 10,1891 17,1891 24,1891 31,1891 7,1891 5,459 400 5, 527 000 5,501 200 5,567 700 5,619 000 5, 629,100 5,576 500 5,573 400 5, 592 600 5,587 400 332, 378,GOO 332, 578,000 335 317,300 333, 004, 000 331, 492,100 332, 2-94, 100 339 667, 000 oil 023, 000 343 572,700 345 411,300 337, 838,000 338. 105,000 340, 818, 500 338, 571,700 337, 111,100 337, 923,200 345,243, 500 346, 596,400 349, 165 300 350, 998 700 49, 293, 200 51, 750, 700 53, 065, 900 52,824,200 54, 783, 400 59, 731, 800 65,532,000 69, 327, 700 71, 771, 500 71, 728,600 44, 509, SCO 93,803,000 41,488,500 93, 239, 200 39, 540 ; 900 92, 611. 800 35, 676, 3C0 88, 500, 500 32, 879, 900 87, 663, 300 30, 905, 700 90, 637, 500 29, 610, 500 95,142, 500 27, 347, 300 96, 675, 000 26,779,400 98, 550, 900 23, 665, 800 95, 394, 400 27. 77 27. 58 27.17 26.14 26. 00 26.82 27.56 27.89 28.22 27.18 Sept, Sept. Sept. Sept. Oct. Oct. Oct. Oct. Oct. Nov. 3,1892 10,1892 17,1892 24,1892 1,1892 8,1892 15,1892 22,1892 29,1892 5,1892 5,424 200 5, 530 800 5, 601 000 5,642 600 5, 672 000 5,573 900 5, 569,100 5,608 800 5,633 700 5, 650, 800 419 587,400 414 929, 500 408 312, 700 3!)9 038, 400 395 234, 300 390, 012, 300 384, 724, 200 378 739, 600 374 072, 300 371 530,500 425, 011 COO 420, 400 300 413,913 700 404, 681,000 400, 906 300 395, 586 200 390, 233 300 384, 348 400 37i), 706 000 377,181 300 67, 699, 700 66, 210,100 65, 742, 400 63, 667, 200 62, 208, 200 62,137, 500 62, 030, 800 61, 205, 200 62. 313, 900 62, 274, 600 45,381,700 44,185, 600 43,884,100 43, 760, 700 43,225,300 39, 862, 800 37, 053,900 38, 529, 900 36, 526, 000 34, 685, 500 113,081,400 110, 395, 700 109, 626, 500 107, 427, 900 105,433, 500 102, 000, 300 99, 084, 700 99, 735,100 98, 839, 900 96, 960,100 20. 6.1 26.26 20.49 26.55 26.30 25.78 25.39 25.95 26.03 25. 71 Sept, Sept. Sept. Sept. Sept. Oct. Oct. Oct. Oct. Nov. 2,1893 9,1893 10,1893 23,1893 30,1893 7,1893 14,1893 21,1893 28,1893 4,1893 9,911 11, 209 12, 723 13, 610 14, 395 14, 940 14,956 14,690 14,610 14, 409 600 400 600 300 600 000 800 500 800 900 301 209 304 310 311, 576 800 311,025 800 317, 531 900 323, 979 200 331, 724 900 340, 831 300 350,911 200 359,363 300 369, 271 400 380,048,000 57, 584, 800 59,174,600 63, 650,000 67, 942, 900 69, 703, 000 72, 369, 000 75, 563, 400 79,504,100 80, 472, 200 81,118,200 18, 727,900 20,345, 900 23, 946,100 27, 048,100 32, 358, 300 35, 435, 000 37, 728, 600 42, 957, 900 49, 418, 600 51,757,000 76,312, 700 79, 520, 500 87, 596,100 94, 991, 000 102, 061, 300 107,*804, 000 113, 292, 000 122, 462, 000 129, 890, 800 135,875,800 24.49 25.56 27.58 29. 32 30.76 31.62 32. 28 34.07 35.17 35.75 Sept. Sept. Sept. Sept. Sept, Oct. Oct. Oct. Oct. Nov. 1,1894 8,1894 15,1894 22, 1894 29,1S94 0, 1894 13,1894 20,1894 27, 1894 3,1894 9,784 9,867 10,070 10,440 10, 803 11,142 11, 553 11, 723 11, 619 11, 517 800 700 800 500 800 000 700 000 700 800 493 860, 600 491 195, 300 494 553, 600 403 346, 900 491 926, 300 494 557,800 495 9 7 4,900 498 994,100 497 442, 000' 495 911,600 503, 645 400 501, 063 000 504, 624 400 503, 787 400 502, 730,100 505, 693 800 507, 528 600 510, 717 100 509,061 700 507, 429 400 79, 071, 300 78, 497,100 79, 019, 200 79, 508, 300 79, 577, 900 79, 703, 900 80,367, 900 81, 392, 200 81,343,300 81,199, 000 103, 021, 700 99, 347, 900 98, 680, 000 95, 838, 700 95, 8 L0, 700 96, 290, 900 97, 793, 300 99,526,500 99, 066, 500 97, 006, 000 182, 093, 000 177, 845, 000 177, 699, 200 175, 407, 000 175, 388, 600 175, 994, 800 178,161,200 180, 918, 700 180,409,800 178,205, 000 36.15 35.49 35.21 34.69 34.88 34.80 35.13 35.42 35.43 35.11 317 325 335 344 35* 365 065,200 816, 400 808,300 368, 900 329, 300 891, 300 954. 400 672, 800 660, 600 638,100 . REPORT OF THE COMPTROLLER OF THE CURRENCY. 231 TABLE SHOWING THE MOVEMENT OF THE RESERVE OF THE NATIONAL BANKS IN NEW YORK CITY DURING OCTOBER FOR THE LAST SIXTEEN YEARS. ( Ratio of reserve toWeek ended— October 5,1878 October 12,1878 October 19,1878 October 26,1878 October 4,1879 October 11,1879 October 38,1879 October 25,1879 October 2,1880 October 9,1880 October 16,1880 October 23,1880 October 30,1880 October 1,1881 October 8,1881 October 15,1881 October 22,1881 October 29,1881 October 7,1882 October -14,1882 October 21,1882 October 28,1882 October 6.1883 October 13,1883 October 201883 October 27', 1883 October 4.1884 October 11,1884 October 18,1884 October 25,1881 October 3,1885 October 10.1885 October 17,1885 October 24,1885 October 30 1885 October 2,1886 October 9,1886 October 16,1886 October 23,1886 October 30,1886 October 1,1887 October 8,1887 October 15,1887 Octobc: 22,1887 Octobe: 29,1887 Octobe 6,1888 Octobe 13,1888 Octobe 20, 1888 Octobe 27,1888 Octobe: 5,1889 Octobe: 12,1889 Octobe 19,1889 Octobe 26,1889 Octobe: 4.1890 Octobe 11,1890 Octobe: 18,1890 Octobe: 25,1890 Octobe: 3,1891 October 10,1891 October 17,1891 October 24,1891 October 31,1891 October 1,1892 October 8,1892 October 15,1892 October 22,1892 October 29,1892 October 7,1893 October 14,1893 October 21,1803 October 28,1893 October 6,1894 October 13,1894 October 20,1894 October 27,1894 Specie $38, 304,900 I 37, 685,100 36, 576,COO 35, 690,500 34, 368,000 32, 820,300 29, 305,200 26, 713,900 11,129, 100 10, 785,000 10, 939,200 10, 988,200 10, 925,000 12,150, 400 12,153, 800 12, 452,7C0 12,496, 500 54, 016, 200 55,961,200 12, 947,900 47,016,000 18, 384,500 48,281,000 18, 002,700 49, 518, 200 17,023, 900 48, 374, 200 17,201, 700 51, 586, 700 20,122, 500 21,145, 800 50, 894, 000 47, 202,900 ! 20,719, 700 I 46,372,800 j 20,617, 600 67,470,600 i 25,817, 300 I 68,922,500 I 27, 654,loo-j 67, 579, 400 I 27, 875,500 67,638,000 j 27 354 200 92,351,600 24, 516,'600 93, 642, 500 23 002 000 91, 945, 300 22, 221,100 87, 309,100 21, 059,800 84, 954, 600 21, 874,900 64,111,700 14, 607,700 65, 723, 800 13, 209,100 65, 228, 600 13,133, 100 65, 668, 400 12, 803,800 GO. 195, 100 13,177, 200 04, 619, 200 15, 767,500 64, 317, 500 16, 229,700 64, 063, 100 16, 885,400 64, 918, 700 16, 735,500 66, 005, 800 17, 542,600 74,411,300 23, 204,300 73,901,500 22,017, 800 81,457,700 21, 386,800 81,212,600 21, 329,800 58, 407, 200 27, 247,900 59, 5G5, 900 24, 873,400 02, 537, 900 23, 570,300 62, 403, 200 22,715, 200 80, 839, 400 15,353, 900 700 73,148,900 14, 436,500 66, 552, 400 14, 642,800 65, 680, 500 15,611, 900 54, 783, 400 32, 879,700 59,731,800 30, 905,500 65, 532, 000 29, 610,300 09, 327, 700 27, 347,400 71,771,500 26, 779,300 62, 208, 200 43, 225,800 62,137, 500 39, 862,900 62, 030, 800 37, 053,900 61, 205, 200 38, 529,000 62, 313, 900 36, 526,000 72, 369, COO 35, 435,600 75, 563, 400 37, 728,900 79, 504,100 42, 957.600 80, 472, 200 49,418, 900 79, 703, 900 96, 290,300 80, 367, 900 97, 793,500 81, 392, 200 99, 526,500 81,343,300 99, 006, $14,995,800 12,184, 600 13. 531, 400 17, 384, 200 18, 979, 600 20, 901, 800 24, 686, 500 25. 636, 000 59,' 823, 700 62,521,300 62, 760, 600 00, 888, 200 01,471,600 54, 954, 600 53, 287, 900 51, 008, 300 , i Legal tenders. Total. $53,300,7C0 49, 869, 700 50,107,400 53, 074, 700 53,347,600 53, 722, 100 53, 991, 7C0 52, 349, £00 70, 952, 800 73. 306, 300 73, 099, 800 71, 876, 400 72, 396, 600 67,105, COO 05,441,700 63,461,000 06,512,700 08, 909,100 G5, 400, 500 66, 283, 700 66, 542,100 65, 578, 800 71, 709, 200 72, 039, 8C0 67 982,000 66, 990. 400 93,287,900 96, 576, 600 95,454,900 94, 992, 200 116, 868, 200 116, 644, 500 114,166, 400 108, 368, 900 106, 829, 500 78,719,400 78, 932, 900 78, 361, 700 78, 472. 200 79, 372, 300 80, 380, 700 80, 587, 200 81, 548, 500 81, 654, 500 82, 848, 400 97, 615, 600 95, 919, 300 102, 844, 500 102, 542, 400 85, 655, 100 84, 439. 300 86,198, 200 85,118,400 96,193, 300 87,585,600 81,194,900 81,292,300 87, 663,300 90, 637, 500 95,142, 500 96, 675, 0C0 98, 550, 900 105, 433, 500 102, 000. 300 99,084; 700 99, 735,100 98, 839. 900 107, 804^ 0C0 113, 292, 000 122,402,000 129,890,8(0 175, 994, 8C0 178,161, 21:0 180,918,700 180, 4C9, 800 j Circula| tion a n d jDeposits. I deposits.! Per cent. Per cent. 28.4 25.7 27.0 24.4 27.3 24.7 28.5 25.8 25.8 23.3 25.9 23. 4 26.1 23.5 25.5 23.0 26.4 25.4 27.2 25.4 27.1 25.5 20.6 24.8 26.7 25.0 24.6 23.1 24.8 23.1 25.9 23.2 26.6 24.6 27.0 25.6 26.4 24.0 26.3 24.7 26.8 25.0 26. 5 24.8 27.0 25.5 26.8 25.4 25.9 24.5 25.9 24.5 36.3 34.5 36. 0 35.2 36.5 34.8 36.3 34.6 37.1 36.0 37.0 35.8 36.0 34.9 34.5 33.5 34.1 33.0 27.9 27.1 27.7 27.0 27.4 26.7 27.7 28.9 27.9 27.1 28.5 27.7 28.2 27.4 28.1 27.3 28.2 27.4 28.6 27.8 27.9 27.4 28.4 27.8 29.9 29.3 29.8 29.3 25.6 25.3 25.6 25.3 26.2 25.9 26.2 25.8 29.0 28.7 26.9 26.6 25.3 25.0 25.0 25.3 26.4 26.0 27.3 26.8 28.T) 27.0 28.3 27.9 28.7 28.2 26.7 20.3 26.1 25.8 25.5 25.4 26.3 25.9 26.4 26.0 33.1 31.6 33.7 32.3 35.5 34.1 36.6 35.2 35.6 34.8 35.9 35.1 36.3 35.4 36.3 35.4 232 REPORT OF THE COMPTROLLER OF THE CURRENCY. ABSTRACT OF R E P O R T S O F E A R N I N G S AND DIVIDENDS FKOM SEPTEMBER 1, 1893, NumStates, reserve cities, and ber of' Capital stock, Territories. banks, j Maine New Hampshire. Vermont Massachusetts . . Boston Rhode Island Connecticut Division No. 1. New York New York City . Albany Brooklyn New Jersey Pennsylvania Philadelphia Pittsburg Division No. 2 83 51 47 214 55 59 84 $11, 243, 570. 00 G, 130,000. 00 6, 960, 000. 00 46,117, 500. 00 53,100, 000. 00 20, 277, 050. 00 22, 999, 370. 00 593 166, 827, 490. 00 49 6 5 99 326 41 29 33, 644, 060. 00 51,250, 000. 00 1,550, 000. 00 1, 352, 000.00 14, 608, 350. 00 39,153, 390. 00 22, 765, 000.00 11,700, 000. 00 829 170, 022, 800. 00 Delaware Maryland Baltimore District of Columbia . Washington Virginia W e s t Virginia 2,133, 985. 00 3, 761, 700. 00 13, 243, 260. 00 252, 000. 00 2, 575, 000. 00 4, 796, 300. 00 2, 961, 000. 00 Division No. 3 . 29, 723, 245.00 North Carolina South Carolina Georgia Floridf Alabama Mississippi Louisiana New Orleans Texas Arkansas Kentucky Louisville - . . Tennessee Division No. 4. 49, 039, 232. 97 Capital and surplus. Gross earn- $13, 850, 797. 00 7, 656, 915. 41 8, 686,170.16 61, 747, 869. 29 67, 809, 300. 00 25, 403,132. 73 30, 712, 538. 38 $792,921.37 464, 584. 93 491,888.86 3, 700, 784.10 4, 293,155.86 1, 260, 405. 20 1,615,815.57 215, 866, 722. 97 '12, 619, 555. 89 45,058, 92. 983, 2, 847, 3, 471, 22, 225, 57,230, 37, 241, 19,150, 104,185,459.78 | 280,208,259.78 23, 785,101. 34 974,980.00 3,108,965.00 1, 404, 900. 00 i 5,106, 600. 00 4,517,800.00 j 17,761,060.00 100,000.00 352,000.00 1,317,000.00 ; 3,892,000.00 2,655,275.00 7,451,575.00 797,438.22 \ 3,758,438.22 11,767,393.22 | 41,490,638.22 2, 711, 362.11 3,168, 569.05 742, 569. 05 227, 327. 56 2, 589,400. 00 841, 400. 00 229, 324. 85 335, 728. 06 1, 087. 833. 37 4, 853,833.37 1, 608,800. 00 213, 224. 90 308, 800. 00 4,561, 007.13 286, 149. 36 767, 007.13 1,502, 900. 00 106, 233.85 447, 900. 00 1,107, 000. 00 110, 831. 23 297, 000. 00 554, 840.33 5, 382,500. 00 2, 257, 500. 00 5, 021, 089. 79 27, 856,089. 79 2, 662,996.19 111, 812. 03 367, 928. 00 1, 467,928.00 761, 169.93 2, 768, 062. 29 12, 679,462. 29 749, 372. 09 915, 932. 41 5, 817,432. 41 678, 263.71 1, 922, 840. 92 11,172, 840.92 500 66, 021, 900. 00 37,745,922.96 83, 767, 822. 96 7, 027, 274. 09 REPORT OF THE COMPTROLLER OF THE CURRENCY. 233 OF NATIONAL BANKS IN THE UNITED STATES. TO MARCH 1, 1804. Charged off. Losses and premiums. Expenses and taxes. Ratios. •Net earnings. Per cent. 2.48 1.84 1.09 2. 34 1.94 2.34 1.94 Per cent. 2.93 2.65 2.27 2.50 1.94 2.28 2.53 Per cent. 3.61 3.31 2.83 3.34 2.47 2.85 3.38 4, 527, 970. 85 5, 017, 749. 39 2.10 2.32 3.01 1,167, 634. 98 2, 412, 057. 95 65, 856. 47 113, 596. 39 754, 437.66 1, 955, 021. 84 1, 080, 286.28 622, 730. 76 1,191, 731. 74 2,501,985.36 87, 333.87 94, 065.00 663, 207. 00 1, 467, 401.10 803, 450. 00 430, 500. 00 2.59 2.51 2.31 3.27 3.39 3.42 2.90 3.25 2.64 2.69 3.07 2. 71 2.98 2.5G 2.10 2.25 3.54 4.70 5.63 6.96 4.54 3.74 3.53 3.68 8,171,622.33 $213, 628. 04 172,135.10 180, 910. 94 1, 507, 780. 34 1.498,864.52 279, 832. 90 486, 895. 74 $343, 015. 32 140, 961. 98 95, 002. 39 1,444, 22 i. 25 1,316,186.09 593, 646. 09 594, 934. 73 3,751,537.46 4, 340, 047. 58 689,183. 22 3, 216, 339. 04 54, 695. 76 37, 390. 72 253, 673. 72 589, 967. 90 710, 042. 27 122, 908.91 1, 572, 852. 02 4, 430, 977. 27 150, 212. 09 145,721.88 713, 989. 40 1, 369, 851. 82 1, 062, 546. 57 493,126. 42 5, 674, 201. 54 9, 939, 277.47 33, 499. 35 32, 853.12 132, 376. 84 69,131. 86 187, 093. 69 332, 332. 35 10,458.29 141, 736. 82 270,453. 84 130, 012.18 337, 209.96 1,141,219.03 17, 400. 62 56,855. 34 44, 259. 31 97, 528. 92 301, 548. 29 28,174. 76 19, 839.14 127, 932. 06 658,120. 24 54, 711.44 170, 200. 99 649,121. 72 244, 900.47 110, 623. 03 116*028.97 189,969. 47 121, 576. 94 164, 356.11 72, 227. 38 48, 646. 48 271, 686. 53 1, 082, 211. 58 49,156.10 302, 217. 67 142, 231. 02 382, 961. 78 2,470, 593. 30 3,053, 893. 06 Dividends to capital. $405, 875. 00 203,150. 00 196, 750. 00 1, 541, 890. 04 1, 314,137. 60 578, 572. 25 777, 374, 50 $236, 278. 01 151, 487. 85 215,975.53 748, 779. 51 1, 478,105. 25 386, 926. 21 533,985.10 37,839.87 83, 577. 03 17, 063. 75 Dividends. Net earn- Dividends ings to cap- to capital ital and and sursurplus. plus. 1 ? 3 4 5 6 7 8 9 10 11 12 13 14 15 7, 239, 674. 07 2.92 2.58 4.11 101, 671. 78 163, 532. 51 545, 738. 20 13,114. 05 74,158. 74 207,751. 85 126, 965. 99 94, 802. 82 135, 506. 06 469, 058. 30 10, 080. 00 72, 500. 00 184, 815. 00 110,040.00 3.27 3.17 3.07 3.73 1.91 2.79 3. 38 3.05 2.62 2.64 2.86 1.8G 2.48 2.93 4.44 16 3.60 17 3.54 18 4 00 19 2.82 20 3.85 21 3.72 22 1, 232, 933.12 1, 076, 802.18 2.97 2.60 2. 62 99, 303. 91 56, 440. 54 101, 499, 28 5,880.96 50, 401. 46 86, 500. 00 94, 870. 00 99, 240. 00 44, 000. 00 80, 610. 00 51,300.00 35, 500. 00 112, 000. 00 1,149, 900. 00 42, 500. 00 375, 351. 00 74, 500. 00 233, 921. 89 3.13 2.18 2.09 0.37 8.94 0.39 3.83 2.88 3.31 0.54 2.28 0.72 0.45 2.73 3.66 2.03 2.73 1.77 3.41 3.21 2.08 4.13 2.89 2.96 1.28 2.09 3.57 5.43 2.63 3.38 2.12 4.86 4.38 3.58 5.04 3.86 3.79 1.52 2.53 1, 502, 787. 73 2, 480,192. 89 1.79 2.96 3.76 179,755.04 5, 831. 71 42, 345. 61 155, 221. 74 922, 664. 37 7, 944. 49 288, 751. 27 41,980.65 23 24 25 26 27 '28 ?,9 30 31 32 33 34 35 234 REPORT OF THE COMPTROLLER OF THE CURRENCY. ABSTRACT O F R E P O R T S OF EARNINGS AND D I V I D E N D S FROM SEPTEMBER 1, 1393, States, reserve cities, and Territories. Number of Capital stock. banks. Ohio Cincinnati Cleveland Indiana Illinois Chicago Michigan t Detroit "Wisconsin Milwaukee $27, 580, 100.00 9,100, 000. 00 9,050, 000. 00 13,947, 000. 00 115 192 17,381, 21 20, 900, 000. 00 10,184, 000.00 91 219 13 11 ooo. eo 7 77 5 Division No. 5. Iowa Des Moines Minnesota St. Paul Minneapolis Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Lincoln . .* .Omaha Division No. 8 United States 121, 787, 100. 00. 1G5 4 14;080, 000. 00 64 5 6,045, 000. 00 35 800, 000.00 7 5>450, 000. 00 4,265, 000. 00 10, 700, 000. 00 G,550, 000. 00 4 2,000, 000.00 11,627, 100. 00 7,748, 100. 00 4 587 1 j5 000, 000.00 4, 150, 000.00 $'55, 2G4, 112. 30 *2 442, 900. 78 847, 847. 91 11,855, 000. 00 10, 862, 000. 00 GG7, 754. 29 18, 675, 527. 99 1,428,576. GO 23, 835, 368. 48 1,871, 241. 07 32, 266, 521. 13 2, 895, 552. 57 13, 259, 881.92 1,016, 880.15 471, 520. 34 4,772, 000. 00 795,112. 90 9,227, 430. 02 2,680, 000. 00 248, 584. 93 40, 910, 741.93 162, 097, 841. 93 12, G85, 980, 54 2, 950, 072.14 234, 000. 00 1,103,711.32 1, 203, 000.00 690, 000. 00 797, 568.14 2, 084, 000.00 514, 700.00 223, 500. 00 1, 700, 320.16 1, 484, 316.50 141, 000. 00 462, 500. 00 78, 215, 200. 00 • 13, 588, 690.20 400, 000. 00 132 21, 227, 000. 00 5, 525, 296.55 32 38 12 2 215,000.00 2,460, 000. 00 775, 000. 00 3,475 000. 00 750 000. 00 2 38 5 10 0 6 13 12 8, 825, 000.00 282, 000.00 5, 625, 000. 00 2 500, 000.00 3,595, 000. 00 300, 000. 00 360, 000. 00 2,750 000.00 1, 160, 000. 00 380 000. 00 466, 989 90 591, 575. 00 249, 000 00 490, 117 93 190, 500 00 19, 000 00 53, 250 00 886, 300 00 164, 700 00 1,468,124 66 4, 579, 557 49 i GO j| 213 20, C25 000. 00 3, 770 G80, 449 735. 00 c, Gross earnings. $7, G84, G12. 2, 755, 000.00 1,812,000. 00 4, 728, 527.99 G, 454, 368.48 11,366,521. 13 3, 075, 881.92 072, 000. 00 2, 032, 430.02 330, 000. 00 2, 292, 283.84 128, 000. 00 1,121, 350 00 1, 225, 000 00 720, 512. 71 38,150 00 52 33 i 800, 000. 00 54 9 9 9 Division No. 7 North Dakota South Dakota Idaho Montana New Mexico Oklahoma Indian Territory Utah "Wyoming Washington 751 133 120 Division No. G Colorado Nevada California San Francisco... Oregon Arizona 4,100, 000. 00 7,195, 000. 00 2 350, COO. 00 Capital and surplus. Surplus. 247, 312,295 16 17,030, 072. 14 1,311, 990. 09 1,034, 000. 00 67, 357. 38 7, 148, 711.32 560,116. 98 5, 003, 000. 00 1,369, 375. 30 6,140, 000. 00 5,062, 568. 14 12, 784, 000. 00 7,064, 700.00 2 223, 500. 00 13, 327, 420. 16 9, 232,416. 50 1,141, 000.00 4, 612, 500 00 383, 730. 99 361, 345. 56 895, 231. 48 801, 241. 88 134, 518. 50 1, 080, 812. 24 728, 903.13 109, 225. 63 468, 688. 35 91, 803, 890 20- 8,272, 597. 57 11, 117 283 84 410, 000 00 0 746 350 00 3 725 OOO 00 4, 315,512 71 438 150 00 26 752 29G 55 9 681 051 021 965 940 319 413 636 824 848 989 90 943, G24. 32 38, 063. 90 574,262.18 259, 890. 76 350, 255. 24 49, 623. 75 2,215, 720.15 GO 282, 749. 33 252. 011. 63 108,854.29 410,489. 58 83, 970. 90 35, 662. 91 45,144. 37 202,132. 29 94, 333. 47 G79, 202. 41 25 204 557 49 2 194,551. 18 3 1 3 3 1 7 575. 00 000 00 117 93 500. 00 000. 00 250 300 700 124 00 00 00 927 792 030 16 71, 512,142. 87 235 REPORT OF THE COMPTROLLER OF THE CURRENCY. or NATIONAL BANKS IN THE UNITED STATES—Continued. TO M A R C H 1, 1834. llatios. Charged off. Losses and premiums. Expenses r.nd taxes. ISTet earnings. $397, 999. 70 110, 583. 69 102, 059. 47 342, 428. 44 420, 953. 05 1, 452, 200. 25 134,127. 52 86, 541. 62 248. 957. 40 320, 334. 84 $1,100, 675. 32 403, 544.82 297,113. 80 625, 386. 44 774, 630. 95 1,274,850.97 499,125. 25 265, 409. 04 415, 340. 01 151, 961. 60 $944, 234. 76 333, 719. 40 268, 581. 02 460, 761. 72 675, 657. 07 168, 492. 35 383, 627. 38 119, 569. 68 130, 815. 49 3, 616,185. £8 5, -808, 047. 20 408, 647. 23 19, 824. 98 87,153.15 1, 247, 837. 72 161, 559.88 33,196. 23 264, 066.19 712,525.47 76 192 51 361,216.52 213, 535. 65 71. 439. 21 193, 026. 84 628, 438. 64 42, 886. 80 253, 389. 75 128, 773. 00 148, 379. 49 198, 467. 62 470,131. 07 327, 223. 27 69 789 88 569, 348. 74 417, 041. 26 67, 803. 78 299, 013. 72 274, 904. 22 4, 645. 60 219, 574. 08 7,235.30 73, 791. 62 129, 681. 71 161. 034. 22 238,506.80 3, 850, 221. 58 3, 020, 687.12 801,688.87 080,311.57 898. 99 434. 50 512. 73 348. 02 548. CO 566, 470. 59 17, 578. 62 235, 651. 76 72, 927. 76 167,229.71 25, 934. 25 303,157.84 1, 344, 054.11 92,430. 31 76, 732. 48 9, 721. 56 77,761.36 5, 243. 79 1, 314. 48 1, 685, 60 21,240.90 13, 664. 26 195, 909. 57 232, 58, 370. 1, . Dividends. N e t earn- Dividends ings to cap- to capital ital and and sursurplus. plus. Dividends to capital. 223,711.51 $814, 003. 96 330, 000. 00 237, 500. 00 462, 312. 50 683, 025. 00 814, 000. 00 487, 080. 00 137,000.00 268, 469. 34 50, 500. CO Per cent. 2.68 2.82 2.48 2.47 2.83 0.52 2.89 2.51 1. 42 8.35 Per cent. 2.31 2.78 2.19 2.48 2.87 2.52 3.67 2.87 2.91 1.88 3,201,747.36 4, 284, 496. 80 2.00 2.63 3.52 1.61 0.45 3.07 0.14 1.20 2.50 1.26 8.38 0.51 1.13 1.07 2.68 1.55 2.76 2.68 2.21 2.45 1.55 0.50 3.24 2.00 i}.26 3.53 2.50 2.91 1.8(> 0. 5 i 40 47 48 sO l.'J 3.0. 2.03 0.51 1.56 2.52 2.10 1.34 55 58 57 58 1, 824, 385. 21 0.87 1.99 r -a 19,586.29 106,175.92 128, 450. 27 187,322.49 22, 141. 20 110, 803. 00 16, 920. 00 181,125.00 115, 000. 00 277, 560. 00 15,000.00 2.74 4.78 1.57 3.45 5.05 1.00 4.13 2.08 3.09 6.43 3.40 3 ( . -.. ', ; 1, 085, 792. 69 214,120.65 716, 405. 06 0.80 2.08 .',. ; 7 146, 763. 74 149, 307. 50 75, 040. 25 224,931.71 46, 025. 56 21, 857. 73 19, 085.18 118,161.96 67, 615. 53 351, 854. 67 43, 555. 28 25,971.65 24, 092. 48 107, 796. 51 32, 701, 55 12. 490. 70 24, 373. 59 62, 729. 43 13, 053. 68 131, 438.17 69, 38, 23, 43, 34, 4, 14, 120, 17, 226, 1.62 0.85 2.35 2.72 3.48 3.92 5.90 1. 73 1.00 1.66 2.57 1.27 2. 2Q 1.10 3.62 1.25 3.48 3.30 1.34 2.86 •• 1. 5s 3.03 1.20 4.53 1. 33 4.00 4.37 1.53 3.51 11,403.99 150, 246.98 98, 386. 22 30,017.30 23,352.21 456, 16, 197, 134, 136, 123, 198, 35, 575. 000. 000. 000. 000. 995. 500. 500. 00 00 00 00 00 87 00 00 207, 232, 24, 62, 884. 930. 000. 000. 00 34 00 00 000. 750. 500. 755. 000. 000. 400. 000. 750. 500. 00. 00 00 00 00 00 00 00 00 00 4.34 Per cent. 2.95 3.63 2.62 H. 31 3.93 3.89 4.78 3.34 3.7G 2.15 2. 4;i J :,.) -5 ,0 J.*;>.) 72 .., 495, 704. 31 1,220,643.83 478, 203. 04 591, 655. 00 1. 90 2.35 2.87 21, 539, 708. 24 30, 209, 007.98 19, 762, 826. 65 23,231,360.60 2.13 2.50 3.41 .—Figures printed in boldface type signify loss. R6 37 38 39 40 41 42 43 44 45 ;„) •*>l -1 59 t>0 62 63 64 65 66 57 58 ;D m 71 72 73 74 236 REPORT OF THE COMPTROLLER OF THE CURRENCY. ABSTRACT O F R E P O R T S O F E A R N I N G S AND D I V I D E N D S FKOM MARCH 1, 1894, States, reserve cities, and No. of Capital stock. banks. Territories. Maine New Hampshire . Vermont Massachusetts . . . Boston Rhode Island Connecticut Surplus. Capital and surplus. 83 51 48 213 55 59 84 $11,245,000.00 $2, 690, 320. 00 $13, 935, 320. 00 6,130, 000. 00 1, 503, 852. 57 7, 633, 852. 57 6, 960, 000. 00 1, 635, 238. 50 8, 595, 238. 50 45, 767, 500.00 15, 302, 513. 63 61, 070, 013. 63 53, 350, 000. 00 14, 721, 535.91 68, 071, 535. 91 20, 262, 050. 00 5,176, 778.40 25,438, 828. 40 22, 999, 370. 00 7, 679, 809. 67 30, 679,179.67 Division No. 1. 593 166, 713, 920. 00 New York New York City . Albany Brooklyn New Jersey Pennsylvania Philadelphia . . . . Pittsburg 273 49 6 5 100 329 41 29 33, 594,060.00 50, 750,000.00 1, 550,000. 00 1, 352,000 00 14, 653.350. 00 39,153; 390.00 22, 765,000. 00 11, 700,000. 00 175,517,800.00 45, 058, , 669. 01 92, 931,, 500. 00 2, 848, ,500. 00 ,000. 00 3, 477, ,110.00 22, 307, 57,465,,370. 91 37,331 ,000.00 19, 302, 268.18 Division No. 2. 832 18 46 22 1 12 37 30 2,133, 985. 00 3, 811, 700. 00 13, 243, 260. 00 252, 000. 00 2, 575, 000. 00 4. 836, 300. 00 3, 061, 000. 00 Division No. 3. 166 29,913,245.00 26 14 28 17 28 11 10 9 216 9 70 8 49 2, 676,000. 00 1, 748,000. 00 3, 766,000. 00 1, 300,000. 00 3, 744,000. 00 955, 000. 00 760, 000. 00 3, 000,000.00 22, 280,000. 00 1,100, 000. 00 9, 806,400. 00 3, 601,500. 00 9,175, 000. 00 744, 455. 42 842, 200. 00 1, 029,593. 37 371, 500.00 750, 534.85 416, 175. 00 304, 000.00 2, 308,500.00 4, 879,581.13 387. 928. 00 2, 606,750.17 843, 500.00 2, 014,009. 90 3,420, 455. 42 2, 590.200. 00 4, 795,593. 37 1,671, 500. 00 4, 494,534. 85 1,371, 175. 00 1, 064,000. 00 5, 308,500. 00 27,159, 581,13 1, 487,928.00 12, 413,150.17 4, 445,000. 00 11,189, 009. 90 495 63,911,900.00 17,498,727.84 81,410,627.84 Division N o . 4 $757, 944. 24 496, 031. 93 534, 456. 75 3, 524,108. 74 3, 818, 648. 84 1,082, 230. 33 1, 545, 016. 34 48, 710, 048. 68215,423,968.68 11, 758,437.17 11, 464, 609. 01 42,181, 500. 00 1, 298, 500. 00 2,125, 000. 00 7, 653, 760. 00 18.311,980.91 14, 566, 000. 00 7, 602, 268.18 Delaware Maryland Baltimore District of Columbia Washington Virginia g W t Vi West Virginia North Carolina... South Carolina... Georgia Florida Alabama Mississippi Louisiana New Orleans . Texas Arkansas Kentucky Louisville Tennessee Gross earnings. 3, 625,433. 09 8, 495,426. 80 270, 742/16 336, 199.12 1, 768,5:56. 89 3,859, 6:*9.14 2, 469,980. 81 547.83 1, 275, 105, 203, 618.10 280; 721, 418.10 22,101, 505. 84 978, 630. 00 3,112, 615. 00 1,430, 950. 00 5, 242, 650. 00 4, 525, 200.00 17, 768,460. 00 100, 000. CO 352, 000. 00 1, 326, 000. 00 3, 901, 000. 00 2, 697, 555. 00 7, 533, 855. 00 830, 763. 22 3, 891, 763. 22 11, 889, 098. 22 41, 802, 343. 22 2, 720,122. 5o 6,951,467.26 REPORT OP THE COMPTROLLER OF THE CURRENCY. 237 OF NATIONAL B A N K S I N T H E U N I T E D STATES. TO SEPTEMBER 1, 1894. Charged off. Losses and premiums. E x p e n s e s and Ratios. ]S"et earnings. Dividends. taxes. N e t earn- Dividends ings to to capital and capital and surplus. surplus. 028.18 955. 72 925.16 370.40 773.63 239. 39 736. 37 $216, 642. 28 167. 748. 59 174, 779. 74 1, 233, 606. 38 1, 548,144.87 275, 573. 24 476, 823. 84 $409, 273. 78 183, 327. 62 96, 751. 85 1, 257,131.96 1, 230, 780. 34 561,417.70 675, 456.13 $401, 825. 00 199, 200. 00 215,500. 00 1, 437, 787. 50 1, 328. 500. 00 577, 797. 25 768, 624. 50 Per cent. 2.94 2.40 1.13 2.06 1.81 2.21 2.20 3.251, 028. 85 4, 093, C18. 94 4, 414, 089. 38 4,929, 234. 25 718, 878. 78 1,711,006.93 41,815.32 118, 093. 04 321, 652. 94 629, 555.10 325, 559. 96 62, C41. 66 1, 537,138. 99 4,137, 048.03 142, 724. 23 125, 884. 36 665, 958. 31 1, 489, 331. 23 1,141, 705. 28 532, 950. 63 1, 369, 415. 32 2, 647, 371. 84 86, 202. 61 92, 221. 72 780, 925. 64 1, 740, 752. 81 1, 002, 715. 57 680, 555. 54 1, 200, 796. 00 2, 240, 720. 00 58. 940. 00 94,180.00 641,087. 00 1, 407, 743. 60 806, 650. 00 414,500. 00 3, 928, 603.73 9, 772, 741.06 8,400,161. 05 18,108.19 39, 580. 88 72, 401. 25 540. 24 17, 897.17 30, 942. 60 15, 111. 93 63, 850.65 174,130. 00 419, 597. 08 10, 094. 59 138, 914. 47 266, 781. 21 104, 939. 65 110,122.92 173,198. 49 509, 952. 74 13,174. 27 101,461.83 278, 930. 73 160, 391. 69 194, 582. 26 1,178, 307. 65 151,706.96 90,177,60 126, 645. 29 61, 774. 60 74. 980. 91 29, 671.16 13, 350. 25 257, 089. 78 439, 044. 94 24,100. 47 147, 475. 34 98, 240. 99 276, 247. 22 108, 986.17 119, 888. 72 166, 331. 91 126,150.74 174, 813. 79 58, 937. 47 45, 487. 68 305, 485.86 990,200.63 58, 413. 99 291, 843. 05 131,658.81 379, 605.18 1, 790, 565. 51 2,957 804.00 $132, 144, 262, 1,033, 1,039, 245, 392, Dividends to capital. Per cent. 2.88 2.61 2.51 2.35 1.95 2.27 2.51 Per cent. 3.57 3 25 3.10 3.14 2.49 2.85 3.34 2.05 2.29 2.96 3.04 2.85 3.03 2.65 3.50 3.03 2.69 3.50 2.66 2.41 2.07 2.71 2.87 2.45 2.16 2.15 3.87 4.42 3.82 6.97 4.38 3.60 3.54 3.54 6, 864, 616. 60 2.99 2.45 3.91 93, 586. 82 131, 755.45 485, 207. 80 10, 080. 00 72, 500. 00 199, 065. 00 117, 862. 32 3.54 3.30 2.87 3.74 2.60 3.70 4.12 3.01 2.51 2.73 2.86 1.86 2.64 3.03 4.39 3.46 3.66 4.00 2.82 4.12 3.85 1, 347, 232. 67 1,110, 057. 39 3.22 2.66 3.71 56,195. 61 85,215.11 82, 946. 60 67, 827. 20 98, 498. 75 48,811.79 72, 333. 20 146, 357. 41 1, 013, 846.17 39, 450. 43 347,100. 66 37,738.03 106, 770. 79 100, 500. 00 70, 555. 00 127, 490. 00 51, 000. 00 81, 610. 00 35, 300. 00 34, 800. 00 87, 000. 00 553, 000. 00 29, 000, 00 518,154. 00 74, 500. 00 214, 082. CO 1.64 3.29 1.73 4.06 2.19 3.56 0.80 2.76 3.73 2.65 2.80 0.85 0.95 2.94 2.96 2.66 3.05 1.82 2.57 3.27 1.64 2.04 1.95 4.17 1.68 1.91 3.76 4.38 3.39 3.92 2.18 3.70 4.58 2.90 2.48 2.64 5.28 2.07 2.33 2, 203, 097. 75 1, 982, 991. 00 2.71 2.44 3.12 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 238 REPORT OF THE COMPTROLLER OF THE CURRENCY. ABSTRACT OF REPORTS OF EARNINGS AND DIVIDENDS FROM MARCH 1, 1394, States, reserve cities, and j No. of 1 Lr _a « Ul t na ll «. _ s t tA o c kv Territories. banks.. P - Ohio Cincinnati Cleveland Indiana Illinois Chicago Michigan Detroit Wisconsin Milwaukee 219 13 11 115 191 21 89 6 77 $27, 395,100. 00 8, 400, 000. 00 9, 050, 000. 00 13, 947, 000. 00 17, 331, 000. 00 20, 900, 000. 00 9,684, 000.00 3, 600, 000. 00 7, 345, 000. 00 3,150, 000. 00 Surplus. 557. 000.00 434. 27 000.00 000.00 417. 28 500.00 500. 00 000. 00 462.37 440. 36 500. 00 000.00 Colorado Nevada. California San Francisco i Oregon . j Arizona 1, 939, 805. 82 128, 000. 00 1,135,200.00 1, 250, 000. 00 670,100. 52 39, 350. 00 Division No. 7 . 128 North Dakota . . . South Dakota Idaho Montana New Mexico Oklahoma Indian Territory . Utah Wyoming Washington United States . Gross earnings. $7, 709,594.17 $35,104, 694.17 £2, 647,607. 80 2, 760,000.00 11,160, 000. 00 849, 843.57 1,875, 000. 00 10, 925,000. 00 650, 180. 06 4, 771.178. 24 18, 718,178.24 1, 424,829. 49 6, 316,958. 28 23, 647,958. 28 1, 899,079. 27 32,152, 521.13 2, 527,430. 07 11, 252,521.13 2, 917,507. 80 12, 601,507. 86 1, 027,327. 78 4,173, 000.00 480, 535. 75 573, 000. 00 9, 328,742. 58 856, 194.93 1,983, 742.58 3, 456,500. 00 349, 211.01 306, 500. 00 Iowa Des Moinfc: Minnesota St. Paul Minneapolis Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Omaha Lincoln Division No. 8 Capital and surplus. 20, 264, 000. 00 I 2,190, 000. 00 2,185, 000. 00 675. 000. 00 3, 025,000.00 700, 000. 00 300, 000. 00 360, 000.00 2, 100,000. 00 1,160, 000. 00 0, 230,000. 00 j 206 | 19, 525, 000. 00 j 3, 741 9, 976,805. 82 410, 000. 00 6, 760, 200. 00 3, 750, 000. 00 4, 090,100. 52 439, 350. 00 , 039, 595. 23 33, 090.16 560, 997. 87 252, 432. 58 338, 323. 56 44, 083.14 5,162, 456. 34 [ 25, 426, 456.342, 268, 522. 04 420, 503, 216, 459, 170, 21, 62, 755. 145, ,315, 400. 00 775. 00 475. 40 290. 94 401.47 800. 00 400,00 325. 00 687. 04 244. 98 2, 610, 400. 00 2, 688, 775. 00 891,475.40 4, 075, 290. 94 870,401.47 321, 800. 00 422, 400. 00 2, 855, 325. 00 1, 305, 687. 04 7, 545, 244. 98 4, 061, 799. 83 j 23,586,799.83 2, 248, 244. 69 665, 453,165. 00 244,600,362.93 j 910,113,527.93 872127712. 37 REPORT OF THE COMPTROLLER O F THE CURRENCY. 239 or NATIONAL BANKS IN THE UNITED STATES—Continued. TO S E P T E M B E R 1, 1894—Continued. * Ratios. Charged off. Dividends to capital Dividends and to capital. surplus. taxes. N e t earnings to capital and $570, 588. 80 77, 723.18 70,311.38 330, 280.45 455, 631. 93 285, 460. 49 206, 442. 59 68,156. 05 223, 759. 68 19, 748, 50 $1,131,936.60 415,001.44 315, 383. 32 642, 530. 58 900,145. 70 1,197, 085.14 430, S96. 96 282, 710.12 370, 279. 30 189, 248. 23 $945,082. 34 357,118. 95 264, 485. 36 452, 018. 46 543, 301. 64 1,044,884.44 " 390,188.23 129, 669. 58 262,155.95 140, 214. 28 $860, 593. 07 314, 500. 00 261, 500. 00 664, 292. 50 C33, 000. 00 820, 500. 00 397,183. 33 131 % 000. 00 305, 725. 00 47, 000. 00 Per cent. 2.69 3.20 2.42 2.41 2.30 3.25 3.10 3.11 2.81 4.06 Per cent. 2.45 2.82 2.39 3.55 2.68 2.55 3.15 3.14 3.28 1.36 2, 308,103. 05 5. 875, 017. 45 4, 529,119. 23 4,435, 293. 90 2.81 2.75 3.67 624, 266. 98 41,731.24 324, 968. 58 146, 001. 38 202,020.79 168,711.83 460, 373. 59 353, 732. 77 35 960 83 486, 710.23 172,479.11 282, 812. 26 67,828.88 463, 769. 42 32,925.52 502, 021. 09 18, 000. 00 280, 450.00 95, 000.00 66, 000. 00 148,486. 00 213, 500. 00 53, 500. 00 2.93 3.31 2.93 1.14 1.57 1 28 2.69 2.42 .75 1.87 3.17 1.81 4.02 1.90 1.10 3.17 1.67 1.02 0 00 1.95 1.84 1.67 0.00 3.86 2.25 4. C8 2.50 1.21 3.79 2.00 1.11 0 00 2.23 2.03 1.83 0.00 Losses a n d premiums. 286. 400. 61 59, 397.44 173, 052.48 191,712.77 352, 630.10 45, 070.20 271,143.23 931, 601. GG \Q 622 01 250, 028.11 79, 333. 22 108,009.52 12, 777. 32 Expenses and Net earnings. Dividends. surplus. 112, 8 L9. 42 144, 626.16 248,245.26 137,185. 92 145, 641.11 82, 544. 08 15 630 61 342,177. 54 79, 286. 95 33, 981. 83 21, 303. 66 248,134.00 60, 200. 00 76, 000. 00 1.61 2.89 4.12 Per cent. 3.14 3.74 2.89 4.76 3.65 3.93 4.10 3.64 4.16 1.49 2, 780, 778. 67 3, 367, 598.47 1,297,795.92 1, 761, 291. 09 1.61 2.19 2.56 314, 954. 30 4, 655. 40 108. 076. 30 16, 257.10 241,1)55. 50 2, 712. 65 515, 306. 64 12, 799.53 240, 874. 40 66, 059, 06 175, 420.50 22, 696. 98 209, 334. 29 15, 635. 23 152, 046. 67 170,116. 36 2.09 3.81 2.25 4.54 1.93 4.25 1.86 4.13 3.31 3.07 2.10 2.28 2.31 6.00 3.98 4.60 2.51 2.50 18, 673. 51 185,410.00 16, 920. 00 223, 946. 42 115, 000. 00 85, 900. 00 10,000. 00 748,611.31 1, 033,157.11 486, 753. 62 637,176. 42 1.91 2.51 3.14 50. 944. 69168, 766. 81 5. 921. 26 777, 322. 76 31,215.31 1, 347. 88 2, 312. 81 61, 493. 55 30, 379. 82 409, 277. 84 165, 766. 37 154, 075. 95 32, 510. 39 188,664.51 52, 304.13 23, 414. 85 17, 004. 55 74,517.96 54, 937. 63 431, 892. 73 10, 030.14 .38 1.18 4.57 10.83 1.20 7.59 5.80 2.09 189,146.69 39, 800. 00 35, 500.00 9, 500. 00 151,500.00 21,500.00 0, 000. 00 12, 900. 00 41, 500, 00 16, 550. 00 40,500. 00 1.52 1.32 1.07 3.72 2.81 2.80 3.05 1.45 1.27 79,052.44 .54 1.81 1.62 1.41 4.18 3.50 3.00 3.58 2.45 1.43 .65 1, 538, 982. 73 1,195,089.07 485,827.11 381, 250. 00 2.06 1.62 1.95 16, 547, 256= 11 29, 473,033. 75 22,192, 422. 51 22,101,910.65 2.44 2.43 3.32 31,642.32 40, 782. 60 441,258.92 10, 24, 24, 59, 6, 474. 433. 500. 703. 295. 57 65 42 45 99 NOTE.—Figures in boldfaced type signify loss. .48 2.51 36 37 38 39 40 41 4? 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 f,0 61 62 63 64 65 60 67 68 69 70 71 72 73 74 240 REPORT OF THE COMPTROLLER OF THE CURRENCY. TABLE, BY STATES AND RESERVE CITIES, SHOWING RATIOS TO CAPITAL, AND TO FROM MARCH 1, 1890, liatio of dividends Katio of dividends to capital for six months ended— \ *° F a p i t a l a n d States, Territories, and surplus ior six reserve cities. months ended— P,S P.ct Maine 3.9 New Hampshire 3.9 Vermont 3.6 Massachusetts 4.0 Boston 2.6 3.0 Rhode Island 3.5 Connecticut 4.1 New York New York City.. 4.7 4.4 Albany Brooklyn New Jersey' 4.4 Pennsylvania 3.8 3. 6 Philadelphia 3.7 Pittsburg 5.0 Delaware 3.9 Maryland 3.6 Baltimore District of Columbia. 4.0 3.0 Washington 3.8 Virginia 4.0 West Virginia 3.7 North Carolina 4.5 South Carolina 4.9 Georgia 3.8 Florida 3.9 Alabama 6.2 Mississippi 3.0 Louisiana 4.7 New Orleans — 5.9 Texas 6.2 Arkansas 3.9 Kentucky 3.5 Louisville 3.9 Tennessee 4.1 Ohio 3.6 Cincinnati 3.2 Cleveland 4.2 Indiana 5.1 Illinois 10.9 Chicago 4.9 Michigan 3.9 Detroit 6.1 Wisconsin 4.9 Milwaukee 5.5 Iowa Des Moines 3. 6 Minnesota St.Paul Minneapolis Missouri St. Louis Kansas City St. Joseph Kansas Nebraska Omaha Lincoln] Colorado ' 12.0 6.0 Nevada 4.4 California San Francisco.. 5.6 3.5 Oregon 6.0 Arizona 6.2 North Dakota 5.6 South Dakota 1.3 Idaho 7.7 Montana 6.0 New Mexico 5.8 Utah 5.0 Washington 2.3 Wyoming Oklahoma Indian Territory Average P.ct 3.9 4.3 3.6 3.1 2.8 2.6 3.5 4.7 4.7 4.0 4.9 3.7 3.5 3.7 4.9 3.8 3.8 4.0 2.4 3.8 5.0 3.7 4.5 3.5 3.1 4.0 4.2 4.2 4.1 3.9 13.9 3.5 3.2 3.1 3.8 3.7 5.7 4.5 5.3 4.9 4.1 3.7 8.5 4.9 5.7 P.ct. 4.1 5.5 3.6 3.5 2.8 2.9 3.7 3.7 4.9 4.4 6.7 4.5 3.8 3.6 3.7 4.9 3.8 3.4 4.0 2.5 4.3 3.5 4.0 4.6 5.0 4.6 3.8 5.3 3.7 4.3 4.2 6.0 3.6 3.2 3.5 4.7 3.8 3.2 5.1 5.2 4.0 4.4 3.4 4.1 4.9 5.7 3.4 11.7 4.0 6.0 4.6 1.6 4.2 5.0 4.1 3. 3 6.2 2.4 7.0 5.3 3.6 2.5 2.5 5.3 4.5 6.0 4.2 4.0 4.2 6.6 4.5 2.9 14.8 3.9 5.7 4.5 3.5 2.5 4.0 3.6 4.5 7.1 4.0 4.0 8.8 4.5 3.2 2.6 1.5 2.7 4.6 4.7 5.2 3.6 7.7 3.0 3.9 j 3.7 3.g 3.7 5.1 6.0 CO 4 . 6 4.9 4.0 4.0 4.7 4.5 6.0 4.5 3.4 5.0 2 . 8 2.9 1.0 11.2 4.0 3.6 6.3 6.3 4 . 2 ; 2.6 3.3 [ 6.0 2.4 2.7 4.3 3. £T P.ct. P.eV IP. ct. P.ct 3.8 3.5 3.6 3.8 3.9 3.9 3.9 3.7 3.5 3.5 3.5 3.5 3.0 3.4 1.1 3.4 2.8 2.6 2.7 2.7 3.1 3.1 3.0 2.6 3.7 3.7 3.7 3.8 3.9 4.0 4.2 3.8 4.7 4.9 4.9 4.9 4.8 5.5 3.4 12.9 6.8 6.8 6.8 6.8 4.6 1.5 4.5 5.0 3.8 3.6 4.0 3.5 3.7 3.5 3.6 3.6 3.7 3.7 3.7 3.8 4.8 4.7 4.8 4.8 3.8 5.2 3.8 3.9 3.5 3.1 3.7 3.4 4.0 4.0 4.0 4.0 2.5 2.8 2.8 2.8 3.9 4.1 4.0 3.9 3.9 5.3 3.2 3.5 4.3 4.2 4.0 4.0 4.8 14.8 4.9 11.4 3.2 3.6 4.3 3.3 3.3 3.2 3.3 3.3 3.4 3.1 3.5 4.0 3.6 3.7 4.0 3.3 4.6 3.3 4.4 3.9 3.4 4.1 3.4 3.7 4.3 4.4 4.6 4. 1 4.6 3.6 4.0 2. 9 4.2 3.8 4.3 3.8 2.8 3.2 3.2 2.4 3.2 3.6 3.1 3.7 3.7 3.8 3.6 3.8 3.7 3.8 3.6 3.2 2.8 3.2 4.8 3.2 3.2 4.2 5.0 4.9 5.1 4.5 4.6 4.5 4.5 4.7 4.0 3. 7 3.7 3.3 4.5 4.5 5.0 4.8 3.3 3.3 2.9 6.3 4.5 4.7 4.5 7.7 5.6 5.6 5.5 4.2 4.8 4.9 4.6 4.9 3.5 5.0 5.0 5.5 4.5 4.7 4.4 4.7 3.1 4.1 4.0 3.0 3.4 2.5 2.5 3.3 4.0 3.9 4.0 2.2 2.8 2.7 2.4 1.7 3.3 3.1 1.6 3.3 2.6 3.3 3.3 3.0 2.8 3.4 3.0 3.2 4.0 3.6 4.4 2.1 2.8 2.3 2.2 1.4 3. Q O P.ct 3.7 3.4 3.1 3.2 2.8 2.9 3.7 3.6 4.9 3.9 6.8 4.6 3.2 3.6 3.8 3.4 3.6 3.8 4.0 2.8 4.2 3.4 3.3 10.2 2.7 2.7 3.3 3.9 3.6 4.4 2.5 2.4 3.8 3.0 2.2 3.1 3.5 2.9 3.7 4.2 3.9 3.7 3.0 3.8 6.4 3.2 18.1 3.4 4.5 3.4 2.7 2.2 1.5 1.4 2.5 3.3 1.9 1.3 1.7 •6.2 3.1 4.6 4.4 2.0 2.5 1.2 1.1 3.6 0.6 3.0 1.8 1.3 2.8 2.6 3.4 P.ct P.ct 3.6 3.6 3.3 3.2 2.8 3.1 3.3 3.1 2.5 2.5 2.8 2.8 3.4 3.3 3.5 3.9 4.7 4.4 5.6 3.8 7.0 7.0 4.5 4.4 3.7 3.6 3.5 3.5 3.7 3.5 4.4 4.4 3.6 3.5 3.5 3.7 4.0 4.0 2.8 2.8 3.8 4.1 3.7 3.9 3.6 3.8 5.4 4.4 2.6 3.4 3.4 3.9 2.1 4.9 2.2 4.4 3.7 3.6 4.6 5.0 2.9 3.9 2.5 3.8 2. 6 1.5 5.3 2.5 2.1 3.0 2.3 3.6 3.1 2.6 3.7 3.3 2.9 3.9 4.8 3.9 3.7 4.8 3.9 3.3 4.1 3.7 3.6 2.2 4.2 3.2 1.5 2.0 3.9 3.3 2.3 3.5 4.7 2.5 2.5 2.9 1.2 1.9 3.8 0.5 2.0 1.1 P.ct. 3.1 3.1 2.9 3.0 2.1 2.4 2.7 3.0 2.7 2.4 3.T 2.7 2.4 2.4 3.5 2.9 2.7 3.2 21 2.7 3.1 2.9 3.1 3.8 3.3 3.2 4.6 3.2 3.0 4.8 5.0 3.1 2.8 3.2 3.2 2,9 2.7 3.2 39 7*. 7 4.0 3.4 4.7 3.2 4.3 3.1 P.ct P.ct. 3.1 3.2 3.4 4.4 2.9 2.9 2.3 2.6 2.2 2.2 2.1 2.4 2.7 2.8 3.5 2.9 2.7 2.8 2.1 2.4 2.8 3." 4" 3.1 2.6 2.6 2.3 2.3 2.4 2.3 3.4 3.4 2.8 2.8 2.8 2.6 2.9 2.9 1.7 1.8 2.7 2.9 4.9 2.7 3.0 3.2 3.0 3.1 2.7 3.8 2.7 3.9 3.2 3.1 3.2 3.9 3.3 3.0 2.7 3.0 3.2 3.8 11.1 4.8 2.8 2.8 2.6 2.0 2.5 2.9 3.0 3.7 3.0 3.0 4.8 2.7 3.4 3.8 3.9 3.9 2.9 2.7 3.2 3.5 3.2 3.0 6.7 3.2 3.2 3.2 4.4 4.5 2 1.8 2.2 3.0 2.0 1.5 1.8 4 2.3 6.0 4.0 4.6 2. 5 2.5 1.8 1.6 1.4 4.2 3.5 2.5 0.7 1.4 3.0 3.6 3.4 3.3 3.2 2.9 3.0 P.ct 3.0 3.1 2.8 2.3 2.2 2.5 2.8 3.0 2.7 2.6 2.8 3.2 2.7 2.3 2.4 3.3 2.8 2.6 2.9 1.7 2.6 3.1 3.4 3.0 2.8 3.6 2.7 3.0 2.7 2.7 2.9 3.2 2.8 2.3 2.7 2.9 3.0 2.4 3.7 3.8 3.0 3.7 2.9 3.7 2.9 4.6 3.2 3.0 3.5 2.7 3.0 2.9 1.9 3.0 2.3 2.9 2.8 2.8 REPORT OF THE COMPTROLLER OF THE CURRENCY. 241 CAPITAL AND SURPLUS, OF THE EARNINGS AND DIVIDENDS OP NATIONAL BANKS TO SEPTEMBER 1, 1894. Rati( of dividends to capital and surplus for six months ended— • (H P P. ct. P.ct. 2.8 2.9 3.1 3.0 2.8 2.7 2.5 0.8 2.2 2.1 2^5 2.5 2,8 2.8 3.0 3. 1 2.7 27 3.0 2.'3 2.7 2 7 1.0 3.1 2.5 2.8 2 2 2.2 2." 3 2.3 3.3 3.3 3.8 2.8 2. 4 2.8 2^9 2.9 1.9 1.9 2.7 2.6 2.6 4.3 3.3 3.1 9.6 3.1 2.6 2 5 rt o 2.8 5! 9 2.6 2.7 3.3 2.5 3.1 2.5 2.2 3.9 3.6 3.1 2.2 2.4 3.4 2.6 2.0 3.0 2.5 2.8 3.0 2.9 2.8 2.6 2.6 3.0 3.6 3.4 3.3 2.8 2.6 3.5 3.4 2.9 2.9 3.6 3.4 3.6 3.5 3.9 3.7 3.5 3.5 3.7 3.6 3.2 2.2 2^2 3.4 2.4 2.4 2.7 1.4 3.0 3.0 2.6 2.5 3.4 3.0 2.5 2.0 ti i% P.ct. 2.9 2.6 2.5 2.4 6.9 2.9 2.7 2.3 2.5 1.9 2,3 2.5 2.6 2.7 3.1 2.7 3.0 2.6 2.2 2.3 3.1 2.6 2.6 2.9 1.9 2.5 2.9 2.7 3.7 2.9 2.4 2.2 2.1 3.0 2.5 2.7 2.9 1.9 2.6 3.0 2.9 3.0 6.1 4.5 3.5 4.2 4.2 4.3 3.6 4.5 6.2 4.6 4.4 4.0 4.4 5.5 3.9 3.5 4.1 4.9 3.9 3.2 4.3 5.5 5.8 5.0 3.4 7.2 2. 5 2.1 20 2 7 46 45 3.0 2.9 2.8 2.5 2.1 2.0 2. 8 2! 8 2.7 7.0 2.7 3.3 2.4 2.2 2.3 3.3 2.8 2.6 2.9 1.9 2.5 2.8 3.1 7.5 2.6 2.8 3.0 3.3 2.8 3.9 3.2 3.0 2.7 3.0 2.9 2.9 2.9 2.7' 2.4 2.4 2.2 2.4 2.7 2.7 2.7 2.1 2.7 3.0 2.2 2.2 2.3 2.5 2.6 2.8 2.9 1.9 2.7 27 2'. 6 2! 6 2.7 2.6 2.6 2.1 1.8 3.0 25 3.4 4.7 3.4 2.8 2.1 3.8 3.5 3.6 4.9 3.2 2.9 7.3 3.8 2.6 2.0 1.1 2.3 3.8 3.5 4.3 3.1 7.1 2.9 2.8 2.7 2.8 11.0 ft a P.ct. P.cL P.ct. 1.9 2.4 2.7 2.7 2.4 3.1 2.7 3. 3 3.0 2.5 2.5 3.8 2.8 2.5 2.6 4.8 2.9 4.4 4 . 6 3 5 2.6 3. 4 1.4 4.6- 2.8 3.7 3.5 2.7 3.1 3.4 2.3 1.0 1.6 1.4 3.0 1.3 2.5 2.2 3.7 2.7 1.9 1.7 1.1 3.7 1.3 4.3 4.3 4 . 1 2.6 3.2 3.2 4. 2 3.5 5.6 1.8 4.5 2.1 3.0 1.0 5.8 0.8 3.3 3.1 1.9 0.5 3.3 2.2 3.9 1.5 2.4 1.1 3.5 2.6 2.6 2.3 3.6 4.1 3.3 3.0 3.6 5.6 3.8 2.3 Ratio of earnings to capital and siirplu 3 for six months ended— 2.5 2.7 1.8 3.4 3.2 2.1 4.1 2.9 3.0 1.3 2.1 2.3 2.8 2.2 2.5 2.9 2.5 3.7 2.9 2.9 1.9 2. 0 2.3 2.5 2.7 2.4 2.1 .2.0 1.9 4,2 1.7 1.9 2.4 2.8 2.4 3.5 2.7 2.5 3.2 3.1 3.3 1.4 2 7 16 32 I. 8 2^8 2.7 2.2 2.5 1.6 0.5 1.9 1.1 3.2 1.7 1.0 1.6 2.5 2.1 1.3 1.0 4.1 2.7 3.1 6.4 3.4 2.6 1.3 2.3 1.1 2.0 1.8 1.7 3.3 2.9 1.3 1.3 3.5 1.7 4.1 3.3 3.1 2.1 2.3 1.5 1.3 1.1 3.7 2.8 1.5 0.5 1.3 2.8 3.1 2.5 2.4 0. O m J! P.ct. P.ct. P.ct. 4.0 3.7 3.6 3.9 3.4 . 3.6 2.6 3.2 1.7 2.7 3.0 0.9 3.6 3.8 4.4 4.5 4.5 5.3 2.3 0.6 4.5 4.2 3.9 3.1 3.3 3.1 3.7 4:4 5.2 1.6 5.5 5.3 4.5 3.9 4.5 4.5 4.2 3.3 7.8 4.5 5.5 5.7 4.1 5.6 4.7 7.6 4.1 4.4 6.6 4.0 5.9 6.8 4.8 4.0 4.6 4.5 5.3 4.2 5.4 6.1 6.2 5.7 3.6 6.1 4.4 5.4 2.8 3.4 2.9 3.0 3.2 2.5 3.3 2.0 3.1 3.4 2.5 1.9 2.8 3.5 •8.5 3/8* 4! 4 P.ct. 2 7 3.1 1.8 2.6 3.3 1.6 Cj GO 6.2 6.3 6.0 6.8 5.6 6.3 6.4 4.4 5.4 4.8 4.0 4.7 3.7 5.0 5.5 5.4 6.9 9.4 4.1 5.8 16.5 5.4 4.7 2.9 5.1 3.9 5.5 4.1 4.4 4.9 51 4.9 3.5 6.5 5.2 4.8 5.4 3.5 4.6 2.8 4.8 5.8 3.8 5.9 4.8 4.4 7.6 4.4 5.5 3.2 4.9 3.8 9.1 5.3 5.3 4.4 7.5 9.0 6.3 4.9 5.2 8.4 7.2 9.3 4.8 5.5 5.4 8.6 2. 7 5.0 4.5 6.1 4.9 4.3 5.8 6.2 10.2 7.1 5.0 6.0 6. 3 6.0 8.7 9.5 2.5 3.5 4.3 9.5 5.2 6.3 8.1 3.4 4.3 4.3 11.9 5.2 4.8 4.5 5.3 4.6 3.7 5.1 3.5 4.6 4.8 4.7 4.0 4.9 4.7 3.3 3.7 3.2 1.9 3.9 3.0 i 3.2 3.8 4.4 5.0 5.4 6.8 5.2 8.4 3.4 7.0 8.4 4.1 5.4 5.0 2.9 0.9 3.1 3.6 3.8 3.7 4.3 5.9 7.8 4.6 3.2 5.8 3.1 4.7 8.7 3.6 4.1 3.0 4.3 4.8 1.0 3.4 2.4 3.5 3.0 3.9 3.6 4.6 4.0 3.3 3.7 3.8 4.1 3.2 3.5 3.5 4.0 5.7 3.9 3.2 2 4 5.7 2.7 3.0 4.3 1.3 3.5 5.1 3.5 2.9 3.3 4.1 4.0 6.0 4.6 5.3 6.1 4.4 2.5 5.2 6.7 4.2 4.5 6.8 4.9 4.7 3.7 2.7 2.0 3.3 2.6 4.5 1.5 6.6 6.3 6.5 7.8 1.3 4,0 4.6 6.0 5.0 4.6 5.7 5.2 8.4 6.8 3.2 9.3 6.6 5.3 4.6 4.0 3.8 11.1 column for 1890. 1892. 1893. and 1894 RiffnifvnerfiftTitn.e'e of loss. 11 c£ CO w. P.ct. P.ct. P.ct. P.ct. P.ct. 6.1 5.6 5.1 5.1 6.5 7.6 4.2 1.4 7.4 5.6 4.0 7.3 5.5 4.5 4.7 5.8 6. 3 |1 si 22 5^3 3.0 6.3 6.1 3.0 2.7 3.1 2.5 2.4 2.2 3.1 4.0 3.8 4.0 4.2 4.3 3.4 2.8 3.9 3.8 3.8 2.8 4.9 3.8 4.7 4.2 4.5 6.8 3.2 6.1 2.4 4.6 5.8 4.3 4.3 3.5 3.4 1.1 2.6 3.8 2.6 3.1 4.4 4.7 5.3 4.2 3.5 5.1 5.4 4.5 3.0 3.4 2.7 2.8 2.6 2.8 3.5 4.2 4.3 5.3 4.2 5.0 1.2 4.0 3.9 5.1 5.4 4.6 4.1 3.6 0.9 2.8 2.2 4.6 26 0.4 3.8 2.6 3.6 0.5 4.6 3.9 3.8 4.1 4.1 3.9 3.5 4.6 3.7 4.6 4.6 4.0 0.4 3.2 2.8 2.3 2.9 2.6 2.5 3.4 3.6 4.5 4.1 4.1 4.6 4.1 3.1 3.8 1.6 3.6 3.2 4.9 3.8 3.7 4.5 4.2 5.9 19 17 50 6.7 1.8 3.3 5.2 4.1 4.1 3.1 3.4 3.2 3.2 4.6 4.7 3.5 4. 5 5.2 4.0 4.0 3.4 6.5 5.1 4.3 5. 4 22 4.9 5.5 6.0 6.2 4 . 3 1.9 5.4 5.3 6.0 6.3 7.0 10.9 3.3 6.7 2.3 4.2 7.8 9.7 5.9 4.7 4 . 8 4.6 4.5 3.9 4.7 5.1 0 . 5 2.0 11.9 9.8 4.9 7.3 3.5 3.9 5.0 3.3 3.0 8.5 5.6 4.0 2.6 3.6 2.4 2.6 3.4 2.5 3.1 4.1 4.1 4.0 3.5 2.6 5.1 7.4 4.0 4.3 2.0 1.2 3.1 3.6 3.6 1.3 2.7 2.5 3.8 1.6 4.6 •4.8 5. 0 4.2 5.0 4.8 4.7 2.4 3.1 8.0 5.7 5.1 3.3 3.0 2.5 1.8 1.1 2.3 1.9 2.3 1.9 2.6 2.5 2.3 3.3 3.4 3.4 2.9 3.3 3.3 3.2 3.1 3.7 1.9 2.8 3.4 3.1 2.2 9 1 0.4 3.9 0.4 3.8 2.9 3.3 0.5 2.3 0.7 0.5 2.7 2.8 2.5 2.5 2.8 0.5 2.9 2.5 1.4 8.3 1.6 0.5 3.1 0.1 1.2 2.6 1.3 3.4 0.5 1.1 1.1 2.6 0.5 2.7 4.8 1.6 3.5 4.3 5.3 5.1 1.6 0.9 2.4 2.7 3.5 1.7 1.7 1.0 3.9 5.9 3.5 2.1 0.4 10.5 P.ct. 2.9 2.4 1.1 2.1 1.8 2.2 2.2 3.0 2.8 3.0 2.7 3.5 3.0 2.7 3.5 3.5 3.3 2.9 3.7 2.6 3.7 4.1 1.6 3.3 1.7 4.1 2,2 3. 6 6.8 2.8 3.7 2.7 2.8 0.8 1.0 2.7 3.2 2.4 2.4 2.3 3.2 3.1 3.1 2.8 4.1 ?9 q q L6 2.9 4.1 2.9 1.1 1.6 1.3 2.7 2.4 0.7 1.9 3*. 8 2.2 4.5 1.9 4.3 0.4 1.2 4.6 10.8 1.2 2.1 2.1 2.5 7.6 5.8 2.4 1 2 3 4 5 6 7 10 11 12 15 14 15 16 17 is 20 21 22 2J 24 25 25 27 2$ 23 'Id 31 32 33 U 35 36 37 38 39 40 41 42 43 44 45 48 47 48 49 53 51 52 53 51 55 5fi 57 58 53 i60 61 62 6-3 61 65 QQ 67 63 39 70 71 72 73 74 242 REPORT OP THE COMPTROLLER OF THE CURRENCY. EARNINGS AND DIVIDENDS OF THE NATIONAL BANKS, ARRANGED BY GEOGRAPHICAL DIVISIONS, FOR SEMIANNUAL PERIODS FROM SEPTEMBER, 1885, TO SEPTEMBER, 1894. Eatios Geographical divisions. No. of banks:'! Capital. Surplus. Sept., 1885, to Mar., 1886: j i New England States...', 550 $165, 203, 920 $41,128, 387 Middle States 7158 ( 172, 435, 295 i 67, 583, 309 j Southern States 204 ! 44,437,400 12,053,524 Western States 1,117 i 148,879.580 32,767,699 Total 2. 708 530, 956,195 |153, 532, 919 Mar., 1886, to Sept., 1886: New England S t a t e s . . . 563 I 165,352,320 Middle States 744 ! 173, 628, 875 . Southern States 303 45, 444, 000 Western States 1,174 153.138,453 Total 2, 784 Sept., 1886, to Mar., 1887: New Enuland S t a t e s... Middle States Southern States Western States 1, Total 563 754 313 225 2, 855 Mar., 1887. to Sept., 1887: New Enuland S t a t e s . . . 566 Middle States ! 764 Southern States ! 343 Western States 1,209 Total 2. 942 537, 563, 648 1157, 064, 778 165, 252, 370 175, 873, 735 46. 2i3, 240 161,016,425 3,044 41, 897, 072 73, 445, 033 12,463,050 35, 926, 745 Total. Total. 21,335,436 27, 527, 666 3.1 4.0 3.2 4.2 4.3 4.2 2.5 3.0 3.4 3.5 3.2 4.0 4.0 4.7 21,147,142 27,912,719 3.9 3.0 4.0 3.2 4.3 4.6 4.4 2.6 3.0 3.0 4.8 4.5 5.5 5, 318, 480 7, 574, 627 2,143, 870 7, 111, 610 6,176, 12, 072, 2, 646, 10, 803, 707 419 393 275 i 3.6 4. 0 | 3.1 3. 0 43, 459, 769 80, 679, 527 14, 258, 403 40, 999, 447 5, 355, 787 7. 224, 781 7, 357, 400 11,360,893 2,137, 328 3,268,973 7,153, 305 10,953,427 5, 426,178 6,187, 595 7, 346, 515 11, 201, 708 2, 298, 039 3, 257, 542 8, 017, 876 11, 954, 449 577,136, 748 179, 397,147 23, 088, 607 32, 601, 294 5, 349, 582 6, 739, 240 7, 564, 822 11, 544, 258 2,189, 937 3, 105, 262 8, 338, 710 11,370,432 165, 101, 920 184, 195 745 58, 905 530 191, 247, 990 45, 476, 953 87, 936, 236 16, 387, 359 47, 328, 336 599, 451, 185 197,128, 884 3 4 4 4 3.3 4.0 4.3 4.5 2.8 3.4 3.7 4.0 | 3.2 4.1 4.0 4.6 5, 508,163 7, 379, 692 2, 357, 718 8, 045, 400 6 932 212 12 241 390 3,497, 410 12 438 868 2.6 3.1 3.8 5, 307, 086 s 920, 889 7, 636, 874 12,060,433 2, 365, 368 3, 818, 379 8, 016, 259 11, 708, 674 33 4.0 41 4.3 5 5 0 4 3.0 4.2 4.8 5.5 3.2 4.3 4.4 5.1 4.3 2.6 2.7 3.2 3.5 3.3 4.5 4.8 5.3 2 5 2.8 3.1 3.4 3.3 4.5 5.1 4.9 3. 9 3.2 4.1 4.0 4.2 23, 325, 587 34,508,375 I 3.9 615, 405, 545 204, 546, 434 26, 249, 766 |35, 248, 539 3 4 5 5 3.0 23, 443, 051 32,759,192 | -4. 0 3,147 i 593,253.850 1192,507,500 j 23,290,973 35, 109, 889 |3,294 2.8 3.9 4.7 5.2 6. 736, 479 9, 789,135 2, 553, 055 8, 834, 050 5, 338, 635 7, 328, 798 1, 994, 537 6, 485,172 Sept., 1889, to Mar., 1890: 5, 520, 977 5, 006, 830 New England S t a t e s . . . 576 165. 631, 980 46,157,181 811 186, 198, 725 91,010,405 7, 629,170 12, 208, 788 Middle States 436 2, 861, 628 4, 229. 776 62, 949, 360 17,141,070 Southern States W e s t e r n States ll, 471 200, 625, 480 50, 237, 778 10, 237, 991 12, 203,145 Total 2.6 2.9 3.4 3.8 558, 544, 541 171,254,553 j 22,003,820 32,808,074 j 3. i 3,093 i 583,529,145 ,184,416,991 3,194 3.2 4.0 4.4 4.6 9 6 29 3.3 3.5 43,118, 790 76, 574,179 13, 247, 285 38,314,299 Sept.. 1888, to Mar., 1889 : New England S t a t e s . . . 568 164,506,720 44, 904, 040 793 ! 184, 628, 445 86, 496, 367 Middle States 382 I 56,974,485 15, 715,136 Sout hern States 1,404 I 187,144,200 45, 391, 957 Western States Mar., 1389. to Sept.. 1889: New England S t a t e s... Middle States Southern States Western States ©+2 111 s+* l i 2 2 1 3 ! 164, 837, 370 j 176,635,656 ; 51,515,315 I 165.556,200 Mar., 1888, to Sept., 1888: New England States .. 568 164,649,820 I 44,197,418 793 184,220,575 i 82,998,759 Middle States 369 i 54, 802, 800 14, 844. 534 Southern States 1.363 | 179,805,950 42,376,280 Western States Total. $5, 375, 226 $5, 925, 381 7, 044, 535 9, 484, 324 1. 969.190 2, 705, 274 6, 946, 485 9,412.687 548, 355, 770 163, 731, 900 | 22,148, 587 J31, 698, 794 Sept., 1887, to Mar., 1888: New England States.. 567 164, 405, 920 780 183, 382, 395 Middle States 358 53,124, 400 Southern States Western States 1, 339 176,224,033 Total 41, 581, 845 70,044,187 31,967,321 33, 470, 425 earnDividends. Net ings. 3.3 4.1 4.5 5.1 4.3 I ! | ! 2.6 , 2,8 3.6 4.1 2.6 4.4 5.3 5.2 4.3 REPORT OF THE COMPTROLLER OF THE CURRENCY. 243 EARNINGS AND DIVIDENDS OF THE NATIONAL BANKS, ETC.—Continued. Ratios. of banks Geographical divisions. Capital. Surplus. Net Dividends. earnings. 5 Mar.. r 1890, to Sept., 1890: ]Sew England States... Middle States Southern States Western States $46, 488, 598 $5,144,588 $6, 239, 358 94, 608, 921 7, 946, 301 12, 534, 630 18, 081, 496 2,695,210 4, 730, 666 52, 690, 124 9,123,018 13,302,370 3. 1 4.2 3.9 4.3 2.4 2.8 3.1 3.4 ! 634,773,746 211,869,139 j 24,909,117 136,807,024 3.9 2.9 i $165, 500, 920 18o,261,155 68, 491,105 212, 520, 566 3,412 Total. Sept., 1890, to Mar., 1891: New England States... 583 165,525,420 47,263,871 851 189,215,745 98,565,397 Middle States 522 I 75,175,100 I 19, 232, 961 Southern States 1,586 I 222, 670, 320 ! 54, 368, 512 Western States Total 5, 530, 473 7, 720, 433 3, 026, 492 9, 491, 377 I 7, 275, 215 13,189, 635 4, 842,139 14,838,985 2.6 J 3, 542 652, 586, 585 219, 430, 741 | 25, 768, 775 |40,145, 974 I 3. 9 Mar.. 1891. to Sept., 1891: New England States... 589 165,392,090 Middle States I 874 192, 973, 876 78, 244, 000 Southern States j 544 Western States 1, 605 231,019,971 48, 053, 953 99, 692, 776 20, 344, 334 58, 011, 532 5,231, 854 7,911, 627 2,778, 024 9,104.730 6,512, 910 U,475, 715 4,299, 226 13,329, 789 32 41 3.6 3.9 4.4 5.5 5.0 3.4 i 3.4 4.6 5.1 5.4 3. 0 4. 6 2.4 2.7 2.8 3.2 30 39 4.4 46 . 13.612 i 667,629,937 226,102,595 j 25,026,235 ;35, 017, 640 ! 3. 7 | 2.8 Total. Sept., 1891, to Mar., 1892: New England States... 585 l 165, 668, 920 Middle States ! 880 ! 192, 303, 940 : Southern States 558 I 78, 227, 550 Western States 1.648 I 239,155.900 48,438,842 103, 561, 327 21, 026, 567 61, 650,165 5,292,014 7,463,453 3,350,369 9,441,017 I 5,422,799 ! 111,764,329 I 3,412,941 113,703,021 . 3, 671 | 675, 356, 310 234, 67% 901 | 25, 546, 853 J34, 363, 090 ;2.8 3. I8 3.8 Total . •Mar.; 1892, to Sept., 1892: j New England States... 587 Middle States 882 Southern States 570 Western States 1, 662 Total. !5Qt 165, 918, 920 j182,464,745 I 79, 620,155 241, 072, 830 48,072,364 ! 105, 487, 21,456,227 62, 745. 279 4,300,264 8,147, 702 3, 007, 204 9,398,600 5,542,293 l 10,855,644 j 3,780,308 I 12,116,679 .. 3,701 I 679,076,650 237, 761, 8(35 j 24. 853, 860 |32, 294, 924 3.7 Sept., 1892, to Alar., 1893: \ j New England States... 593 I 166, 883. 920 Middle States 896 j 193, 420,145 Southern States 584 I 80, 834, 940 Western States 1, 686 j 245, 735, 370 Total 166,483,920 49,330,806 195,020,223 1110,921,832 77. 023, 500 21, 638, 868 243, 282, 030 GQ, 231,402 Total. Mar.. 1894, to Sept., 1894: New England States... Middle States Southern States Total G-eneral average. 6, 237,163 12. 501, 582 8, 706,154 13, 646, 809 5, 225, 243 7, 740, 742 2, 443, 628 7, 749, 372 .[3, 758 I 681,809,673 J248,122, 908 | 23,158,985 132,659,243 Sept., 1893, to Mar., 1894: Now England States... 593 166, 827, 490 Middle States j 915 195,161, 745 Southern States | 579 76, 606, 200 Western States. 1, 683 241, 854, 300 Western States 5, 265, 294 8,019,584 3,363,815 9, 825, 517 3,759 j 686,874,375 1245,714,438 | 26,474,210 36, 091, 708 Mar., 1893, to Sept., 1893: I New England Statete... i 594 Middle States I 908 Southern States ' 574 Western States |1, 682 Total. 49, 226, 403 109,068,414 21, 664, 386 65, 755, 235 | 49, 039, 233 111, 083,140 22, 615, 636 64,604, 286 5, 017, 749 7,939, 041 2, 857, 628 7, 416, 942 2.5 4, 527, 971 8, 982, 565 1, 924,778 4, 327, 512 3, 770 | 680, 449, 735 247, 342, 295 | 23, 231, 360 J19, 762, 826 ' 3. 4 593 918 575 1,655 166, 713, 920 194, 706, 745 74, 636, 200 229, 396, 300 48, 710, 048 112,138, 398 22, 453, 046 61, 358, 870 4, 929, 234 7,575,167 2,382,498 7. 215, 011 4, 414, 089 9,193,435 2,757,056 5, 827, 842 3, 741 j 665, 453,165 244, 660, 302 22,101, 910 |22,192, 422 j 3. 3 2.4 3,334 j 620,455,933 J206, 625, 686 23,172,459 (32,222,744 2.8 3.7 244 REPORT OF THE COMPTROLLER OF THE CURRENCY. NUMBER OF NATIONAL BANKS, THEIR CAPITAL, SURPLUS, DIVIDENDS, NET EARNINGS, AND RATIOS, YEARLY, 1870 TO 1894. Eatios. Tear ended March 1— 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883. 1884 1885 1880 1887 1888 1889 1890 1891 1892 1893 1894 No. ! of I banks.; ' ! 3, 1 3, | 3, 1 3, ....! 3, 3, Capital. .Net earnings. Pr. ct.Pr. ct Pr. ct. $43, 246, 926 $58, 218,118 10.5 8.8 11.8 43, 285, 493 54, 057, 047 10.1 8.3 10.4 54, 817, 850 10 44, 985,105 8.2 10.2 48, 653, 350 62, 499, 369 10.3 8.4 10.7 62,666,120 9.9 7.9 48, 353, 026 10.3 59,172, 818 10.1 7.9 49, 680,122 9.5 7.8 49,129, 366 51, 898,138 8.1 7.0 44, 367, 798 40,133,194 6.3 6.8 41, 099, 506 32, 220, 724 5.3 6.1 35, 500, 277 28, 337, 553 7.6 4.8 6.2 38, 025, 984 7.8 35, 523,140 6.7 6.4 48, 485, 271 8.2 455, 529,963 121, 313, 718 37,167,717 8.4 6.7 39,415, 343 56, 254,141 8.6 459, 644, 485 129, 265,141 9.5 6.7 52, 670, 569 8.6 478,519,528 135, 570, 518 41,181, 655 6.4 41, 476, 382 55, 568,978 8.2 501, 304, 720 143,416,518 6.1 520, 752. 720 148, 246, 298 40, 609, 317 45, 969, 221 7.8 6.9 527, 777, 898 150,218,207 41, 553, 907 49, 551, 961 •7.9 6.1 7.3 6.1 7.9 59, 611, 513 542, 959, 709 160, 398, 339 43, 295, 729 8.5 6.1 567, 840, 644 175, 325, 850 45, 092, 427 65, 409, 368 7.9 8.8 6.0 588, 391, 497 188, 462, 245 46, 734, 024 t>7, 869, 081 7.9 8.7 6.1 69, 756, 914 8.1 607, 428, 365 200, 837, 659 49, 575, 353 5.9 643, 680,105 215, 649, 940 50, 677, 892 76, 952, 998 7.9 5.6 671,493,123 230, 389, 748 50, 573, 088 69, 980, 73U 7.5 7.8 5.5 682, 975, 512 241, 738,151 51, 328, 070 68, 386, 632 7.5 7.4 5.0 681,129, 704 247, 732, 601 46, 390, 345 52, 422, 069 6.8 5.6 $409, 008, 896 $84,112, 029 i 427, 008,134 93,151, 510 i 448,346,485 98, 858, 917 ! 473, 097,353 109, 719, 615 120,791, 853 ' 488,805,637 491, 753, 557 129, 962, 338 501, 037,162 134, 295, 621 498, 566, 925 131, 561, 621 480, 967, 305 123, 361,407 467, 322, 946 117, 715, 634 454, 606, 073 116,187, 926 Average, 2 5 i j years.. ; 2, 477 | 522, 797, 940 Aggregate, 25 \ \ years Dividends. 149,931,336 \ 44,355,814 55,237,454 1,108,895,358 1,380,936,361 j 8. 5 | G. 6 j 8.2 REPORT OF THE COMPTROLLER OF THE CURRENCY. 245 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES OF THE UNITED STATES, WITH THE DATES OF LIQUIDATION, THE AMOUNT OF THEIR CAPITAL, CIRCULATION ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1894. Circulation. Name and location of bank. Date of liquidation. Capital. 1 Issuer . Retired. jOutstandi ing. First National Bank, Perm Yan, N.Y.* . . Apr. 6, 1864 First National Bank, Norwich, Conn.*' . . May 2, 1864 Second National Bank, Ottiunwa, I o w a t . . do Second National Bank, Canton, Ohiot... Oct. 3, 1864 First National Bank, Lansing, Mich. t-. Dec. 5, 1864 First National Bank, Columbia, Mo Sept. 19, 1864 $89, 875 $90, 000 $100,000 $125 First National Bank, Carondelet, Mo Mar. 15, 1865 30,000 ! 25, 500 25, 404 96 J u n e 9. 1865 First National Bank, TJtica, N. Y.* Sept. 16, 1865 Pittston National Bank, Pittston, P a 200,000 Fourth National Bank, Indianapolis, Ind Nov. 30, 1865 100, 000 100, 000 99,373 627 Berkshire National Bank, Adams, Mass.^ Dec. 8, 1865 100, 000 1866 National Union Bank, Rochester, N. Y . . Apr. 26, 400,000 191, 558 192, 500 942 50,000 First National Bank, Leonardsville, N.Y J u l y 11, 1866 44, 420 45, 000 580 100,000 I Farmers' National Bank, Richmond, Ya Oct. 22, 85,000 83, 293 1,707 Farmers' National Bank, Waukesha, Nov. 25,1866 Wis 89,545 100,000 j 90,000 455 National Bank of Metropolis, WashingNov. 28,1866 ton, I). C 200,000 j 180, 000 177,128 2,872 First National Bank, Providence, P a . . . Mar. 1.1867 100,000 90,000 88, 805 1,195 125,765 National State Bank, Dubuque, I o w a . . . Mar. 9,1867 150,000 I 127, 000 1,235 First National Bank of Newton, NewMar. 11,1867 tonviile, Mass 128, 832 150,000 130, 000 1,168 First National Bank, New Ulm, Minn.. Apr. 18,1867 60, 000 53, 250 54,000 750 National Bank of Crawford County, Meadville, Pa zlpr. 19,1867 300, 000 Kittanning National Bank, Kittanning, Pa.J Apr. 29,1867 200, 000 May 28,1867 City National Bank, Savannah, Ga.t 100, 000 Ohio National Bank, Cincinnati, Ohio... July 3,1867 500,000 444,260 450, 000 5,740 r F i r s t National Bank, Kingston, N . Y . . . Sept. 26,1867 200, 000 177, 825 180, 000 2,175 Dec. 5,1867 F i r s t National Bank, Blutt'ton, Ind 44,586 45, 000 50.000 414 do National Exchange Bank, Richmond, Va. 179, 380 180, 000 200, 000 620 133,808 F i r s t National Bank, Sianeateles, N. Y. Dec. 21,1867 135, 000 150, 000 1,1P2 45, 320 F i r s t National Bank, Jackson, Miss 45, 500 Dec. 26,1867 100, 000 180 89, 026 First National Bank, Downingtown, P a . Jan. 14.1868 90, 000 100, 000 974 First National Bank, Titusviile, P a 85, 790 Jan. 15,1868 100, 000 86, 750 960 AppletonNationalBank, Appleton, W i s . Jan. 21,1868 44, 380 50, 000 45, 000 620 National Bank of Whitestown, N. Y 45,258 Feb. 14,1868 120,000 45, 500 242 First National Bank, New Brunswick, N. J . 100,000 88, 734 Feb. 20,18*68 90, 000 1,266 First National Bank, Cuyahoga Falls, Ohio ' 44, 472 Mar. 4,1868 50, 000 45, 000 528 First National Bank, Cedarburg, W i s . -. Mar. 23,1868 100,000 473 89, 527 90, 000 Commercial National Bank, Cincinnati. Ohio 500, 000 344, 005 Apr. 28,1868 345,950 1,945 Second National Bank, Watertown, N . Y . July 21,1868 100,000 88,980 90,000 1,020 First National Bank, South Worcester, N.Y . Aag. 4,1868 175,500 155, 826 157,400 1,574 NationalMechanics and Farmers' Bank, Albany, N . Y ....do 350, 000 313,015 314,950 1,935 Second National Bank, DesMoines, Iowa. Aug. 5,1868 50, 000 42,162 42,500 338 First National Bank, Steubenvillo, Ohio. Auor. 8, 1868 133,387 150, 000 135,000 1,613 First National Bank, Plumer, Pa Aug. 25,1868 100,000 86, 202 87, 500 1,'298 First N ational Bank, Danville, Va Sept. 30,1868 50, 000 44, 710 45,000 290 First National Bank, Dorchester, Mass . Nov. 23,1868 150, 000 132,500 130,627 1,873 First National Bank, Oskaloosa, Iowa . . Dec. 17,1868 75,000 67,500 66,992 Merchants and Mechanics' National Bank, Troy, N. Y Dec. 31,1868 183,197 300, 000 184, 750 1,553 National Savings Bank, Wheeling, W. Va Jan. 7,1869 89, 455 100, 000 90, 000 545 First National Bank, Marion, Ohio Jan. 12,1869 125, 000 829 109, 850 109, 021 National Insurance Bank, Detroit, Mich Feb. 26,3869 200,010 527 85, 000 84, 473 National Bank of Lansingburg. N. Y Mar. 6,1869 150, 000 133, 822 1,178 135,000 National Bank of North America, New York, N. Y Apr. 15,1869 330, 919 2,081 1, 000, 000 333, 000 First National Bank, Hallowell, Me Apr. 19,1869 404 53, 350 52, 946 60, 000 First National Bank, Clyde, N. Y Apr. 23,1869 720 44,000 50,000 43, 280 Pacific National Bank, New York, N. Y. May 10,1869 908 422, 700 134, 990 134, 082 Grocers' National Bank, New York, N. Y June 7,1869 329 390, 000 85, 250 84,921 500 Savannah National Bank, Savannah, Ga. June 22,1869 100, 000 85, 000 84, 500 July 30,1869 243 First National Bank, Frostburg. Md 45, 000 44,757 50, 000 Aug. 30,1869 465 First National Bank, La Salle, 111 45, 000 50, 000 44, 535 National Bank of Commerce, Georgetown, D. C 89,100 900 i Oct. 28,1869 100, 000 90,000 * New bank with same title, t Never completed organization. J Consolidated w i t h another b a n k . 246 REPORT OF THE COMPTROLLER OF THE CURRENCY, NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Date of liquidation. Name and location of bank. Miners' National Bank, Salt Lake City, Utah First National Bank, Yinton, Iowa National Exchange Bank, Philadelphia, Pa First National Bank, Decatur, 111 National Union Bank, Owego, N. Y First N ational Bank, Berlin, Wis Central National Bank, Cincinnati, Ohio. First National Bank, Dayton, Ohio. -. NationalBa-nkof Chemung, Elmira, N.Y. Merchants' National Bank, Milwaukee, AVis First National Bank, St. Louis, Mo Chenmng Canal National Bank. Elmira, Dec, 2,1869 Dec. 13,1809 Issued. Retired. Outstanding. $150, 000 50,000 $135, 000 42,500 $134,116 42, 303 $884 197 8,1870 10,1870 11,1870 25,1870 31,1870 9,1870 10,1870 300, 000 100, 000 100, 000 500, 000 500, 000 150, 000 100,000 175,750 85, 250 88, 250 44, 000 425, 000 135,000 90, 000 173,910 84, 226 87, 338 43, 627 421, 435 133, 851 1,840 1,024 912 373 3,565 1,149 502 June 14,1870 J uly 10,1870 100, 000 200,000 90, 000 179,990 645 1,393 100, 000 100, 000 50, 000 300,000 100,000 90, 000 89, 355 178,597 89,174 27,000 270, 000 85, 000 26, 895 267, 068 84, 348 105 2,932 652 100,000 90, 000 89,429 571 100, 000 50, 000 100,000 90, 000 45, 000 90, 000 89, 300 44, 615 89, 213 700 385 787 150,000 100, 000 100, 000 100,000 135,000 90,000 49, 500 90, 000 180, 000 134,048 89, 461 49. 033 89. 278 178, 278 952 539 467 722 1,722 90,000 89, 323 •677 67,500 270, 000 66, 990 268, 774 90, 879 510 1, 226 821 444,151 5,849 44, 468 80, 029 163,720 532 971 1, 280 Jan. Jan. Jan. Jan. Mar. Apr. June Aug. 3,1870 N.Y : Sept. 23,1870 Central National Bank, Omaha, Nebr. * .. Oct. 13,1870 First National Bank, darksville, Va Oct. 15,1870 First National Bank, Burlington, Yt Oct. 24,1870 First National Bank, Lebanon, Ohio National Exchange Bank, Lansingburg, Dec. 27,1870 N. Y Muskingum National.Bank, Zanesville, Jan. 7,1871 Ohio United National Bank, Winona, M i n n . . . Feb. 15,1871 First National Bank, l)es Moines, Iowa.. Mar. 25,1871 Saratoga County National Bank, Water- Mai-. 28,1871 ford, N. Y . . . . Mar. 31,1871 State National Bank, St. Joseph. Mo May 2,1871 First National Bank, Fenton, Midi 24,1871 First National Bank, AVellsburg, AY. A"a. June Clarke National Bank, Rochester, N. Y".. Aug. 11,1871 Commercial National Bank, Oshkosh, Nov. 22,1871 Wis Fort Madison National Bank, Fort MadDec. 20, 1871 ison, Iowa Jan. 6,1872 National Bank of Maysville, Kv Fourth National Bank, Syracuse. N. Y . . . Jan. 9, 1872 American National Bank, New York, ! May 10,1872 N.Y Carroll County National Bank, SandMay 24,*1872 wich, N. II ..' June 24, 1872 Second National Bank, Portland, Me Atlantic National Bank, Brooklyn, N. Y. July 15,1872 Merchants and Farmers'National Bank, Quincy, 111 , Auu-. 8,1872 First National Bank, Rochester. N . Y | Aug. 9,1872 Lawrenceburg National Bank, Law- j renceburg, Ind ' Sept. 10,1872 Jewett City National Bank, Jewett City, | Conn 1..1 Oct. 4,1872 First National Bank, Knoxville, T e n n . . . j Oct. 22, 1872 Nov. 7,1872 I First National Bank, Goshen, Ind Kidder National Gold Bank, Boston, j Mass Nov. 8,1872 ! Second National Bank, Zanesville, Ohio.. | Nov. 16,1872 j Orange County National Bank, Chelsea, Yt. Jan. 14,1873 < Second National Bank, Syracuse, N. Y"... Feb. 18,1873 j Richmond National Bank, Richmond, Ind.* Feb. 28,1873 ! First National Bank, Adams, N. Yr Mar. 7,1873 , Mechanics' National Bank, Syracuse, N.Y Mar. 11,1873 ) Farmers and Mechanics' National Bank, Rochester, N.Y" Apr. 15,1873 i Montana National Bank, Helena, Mont.. do i First National Bank, Havana, N. Y June 3,1873 I Merchants and Farmers' National Bank, Ithaca, N. Y June 30,1873 National Bank of Cazenovia, N. Y July 18, 1873 Merchants' National Bank, Memphis, Aug. 30,1873 ! Tenn Manufacturers' National Bank, Chicago, III i Sept. 25,1873 j Second National Bank, Chicago, 111 do ; Capital. 826 200, 000 100,000 75, 000 300,000 105. 500 91, 700 500, 000 450, 000 50, 000 100,000 200,000 150, 000 400, 000 45, 000 81, 000 165, 000 135, 000 206,100 133,725 203, 876 1, 275 2 224 200, 000 180, 000 178, 053 60,000 100,000 115, 000 48, 750 80,910 103,500 48,277 80,112 102, 283 300,000 154,700 120, 000 138,140 120, 000 136, 513 1,627 200,000 100,000 180, 000 90,000 177, 921 88, 880 2.079 1,120 230,000 75, 000 207, 000 66, 900 207, 000 66, 015 1,947 140, 000 j 93, 800 473 798 1,217 92, 880 920 83, 250 31, 500 45, 000 82, 377 31, 385 44, 415 873 115 585 45, 000 116, 770 44, 321 115, 341 679 1,429 250, 000 225, 000 222, 473 2,527 500, 000 t 100. 000 I 438, 750 97, 500 433,392 96,176 5,358 1,324 100,000 100,000 I 50,000 j 50,000 ! 150, 000 I * N e w bank with same title. REPORT OF THE COMPTROLLER OF THE CURRENCY. 247 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Merchants' National Bank, Dubuque, Iowa Beloit National Bank, Beloit, Wis Union National Bank, St. Louis, Mo City National Bank, Green Bay, Wis First IS! ational Bank, Shelbina, Mo Second National Bank, Nashville, Tenn.. First National Bank, Oneida, N. Y Merchants' National Bank, Hastings, Minn National Bank of Tecumseh, Mich Gailatin National Bank, Shawneetown, 111. Date of liquidation. 1873 Sept. 30,1 Oct. 2,"1873 Oct. 22, 1873 Capital. Issued. Nov. 29,1873 Jan. 1874 Jan. 1874 Jan. 13, 1874 $200. 000 50, 000 500, 000 50, 000 100, 000 125, 000 125, 000 $180, 000 45, 000 150, 300 45, 000 90, 000 92, 920 110, 500 Feb. 7,1874 Mar. 3,1874 100, 000 50, 000 Mar. 7,1874 250, 000 First National Bank, Brookville, Pa 100,000 | Mar. 26,1874 Citizens' National Bank, Sioux City, j Iowa Apr. 14,1874 50,000 ! Citizens'National Bank, Charlottes ville, i Va A p r 27,1874 100, 000 I Farmers' National Bank, Warren, 111... A p r . 28,1874 50,000 I First National Bank, Medina, Ohio May 6,1874 75,000 ! Croton Kiver National Bank, South East, N. Y 200,000 ! May 25,1874 Merchants' National Bank of West Virginia, Wheeling, W. Va 500,000 ; J u l y 7,1874 Central National Bank, Baltimore, Md. J u l y 15,1874 200, 000 | Second National Bank, Leavenworth, Kans 100, 000 J u l y 22,1874 Teutonia National Bank, New Orleans, La 300, 000 Sept. 2,1874 City National Bank, Chattanooga, Tenn. Sept. 10,1874 170, 000 First National Bank, Cairo, 111 100, 000 Oct. " ' 10,1 "" 1874 First National Bank, Olathe, Kans 50, 000 1874 Nov. First National Bank, Beverly, Ohio 102, 000 Nov. 10,1874 Union National Bank, Lafayette, Ind ... Dec. 4,1874 250, 000 Ambler National Bank, Jacksonville, Fla. 42, 500 Dec, 7,1874 Mechanics' National Bank, Chicago, 111.. Dec. 30,1874 250, 000 First National Bank, Evansville, Wis... J a n . 9,1875 55, 000 First National Bank, Baxter Springs, Kans 50,000 J a n . 12, 1875 People's National Bank, Pueblo, Colo 50, 000 ....do .. National Bank of Commerce, Green Bay, 100, 000 Wis .do 100, 000 First National Bank, Millersburg, Ohio. .do . 100, 000 First National Bank, Staunton, Va Jan. 23,1875 100, 000 National City Bank, Milwaukee, Wis Feb. 24,1875 Irasburg National Bank of Orleans, Irasburg, Vt-' . 75,000 Mar. 17, 1875 i First National Bank, Pekin, 111 100,000 Mar. 25, 1875 | Merchants and Planters' National Bank, A ugusta, Ga 200,000 Mar. 30, 1875 Monticello National Bank, Monticello, Iowa 100,000 ...do 125,000 i Iowa City National Bank, low a City, IowaJ Apr. 14,1875 250, 000 First ^ationa. Bank,, Wheeling, g, AV. Va..) Apr. 22,1875 First Clemens First National National Bank Bank, Mount Mount Clemens, 50, 000 May 20, 1875 Mich 50, 000 First National Bank, Knob Noster, Mo.. May 29, 1875 50,000 June 24, 1875 First National Bank, Brodhead, Wis Auburn City National Bank, Auburn, 200, 000 J u n e 26, 1875 N. Y 50, 000 J u n e 30. 1875 First National Bank, Eldorado, Kans First National Bank, Junction City, 50,000 1875 July 1, Kans 50,000 July 19, 1875 First National Bank, Chetopa, Kans 50, 000 First National Bank, Golden, Colo :. Aug. 25, 1875 60, 000 Aug. 26, 1875 National Bank of Jefferson, Wis Green Lane National Bank, Green Lane, 100,000 ! Sept. Pa p 9,1875 , 60,000 j S t 151875 State National Bank, Topeka, Kans ' Sept, 15, Farmers'National Bank, Marshalltown, I 50, 000 Iowa I Sept. 18,1875 Eichland National Bank, Mansfield, j 150.000 Ohio Sept. 25, 1875 350,000 Planters' National Bank, Louisville, Ky.| Sept, 30, 1875 75, 000 First National Bank, Gailatin, Tenn ..'.. I Oct. 1,1875 100, 000 1875 First National Bank, Charleston, W. Va.! Oct. 2, *No circulation. Retired. $176, 44, 148, 44, 89, 91, 108, Outstanding. 532 319 473 325 301 715 956 $3, 468 6*1 1,827 675 699 1,205 1, 544 90, 000 45, 000 88, 541 44,315 1, 459 685 225, 000 90, 000 223, 057 88, 845 1,943 1,155 45, 000 44, 850 90, 000 45, 000 45, 000 89, 279 44,463 j 44,737 | 721 537 263 166, 550 163,638 I 2, 912 450, 000 180, 000 445,000 ; 178,878 j 5, 000 1,122 87, 942 2,058 268, 060 147,119 88, 672 44. 660 ' 88. 581 220, 401 1 940 882 I 328 340 1.419 3,694 125, 900 45, 000 124, 110 44, 563 1,790 437 36,000 27, 000 35. 655 26, 834 345 106 90,000 60, 400 I 90,000 60,000 | 89. 235 60, 045 89. 107 59, 200 705 355 893 800 67,500 90,000 66, 569 88,725 931 1, 275 169,000 I 167, 345 1,655 45, 000 104. 800 225,000 44, 766 103, 176 222,014 234 1,6242,98(5 27,000 43, 800 45, 000 26, 910 43, 440 44,507 90 360 493 141.300 45, 000 139, 057 44, 530 2,243 470 45, 000 36,000 27, 000 54, 000 44,705 35, 701 20, 818 53, 022 295 299 182 978 90, 000 30, 600 89, 688 30,477 312 123 90, 000 270, 148, 90, 45, 90, 224, 000 001 000 000 000 095 27, 000 26, 840 160 130,300 315, 000 45, 000 90,000 128, 068 310,609 44, 630 89,156 2,232 4, 391 370 844 248 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Date of liquidation. People's National Bank. Winchester, 111. Oct. 4,1875 F i r s t National Bank, N e w Lexington, Ohio Oct. 12, 1875 F i r s t National Bank, Ishpeming, Mich . . Oct. 20, 1875 F a y e t t e County National Bank, Washington, Ohio Oct. 26,1875 Merchants' National Bank. Fort Wayne, Nov. 8,1875 Ind Kansas City National Bank, Kansas Nov. 13, 1875 City, Mo F i r s t National Bank, Schoolcraft, Mich. Nov. 17, 1875 F i r s t National Bank, Curwensville, Pa . . Dec. 17, 1875 National Marine Bank, St. Paul, Minn . . Dec. 28, 1875 Jan. 11, 1876 F i r s t National Bank, Rochester, I n d do F i r s t National Bank, Lodi. Ohio Iron National Bank, Portsmouth, Ohio . . J a n . 19. 1876 J a n . 26, 1876 F i r s t National Bank, Ashland, Nebr Jan. 28, 1876 F i r s t National Bank, Paxton, 111 F i r s t National Bank, Bloomfield, I o w a . . . Feb. 5, 1876 Marietta National Bank, Marietta, Ohio . Feb. 16, 1876 Salt Lake City National Bank. Salt Lake City, Utah ." Feb. 21, 1876 Feb. 24, 1876 F i r s t National Bank, La Grange, Mo Mar. 7, 1876 F i r s t National Bank, Atlantic, Iowa Mar. 11, 1876 F i r s t National Bank, Spencer, Ind NationalCurreneyBank, New York, N. Y Mar. 23, 1876 May 13, 1876 Caverna National Bank, Caverna, Ky May 25, 1876 City National Bank, Pittsburg, P a National State Bank, DesMoines, I o w a . . J u n e 21, 1876 J u n e 22, 1876 F i r s t National Bank, Trenton, Mo J u l y 10, 1876 F i r s t National Bank, Bristol, Teun J u l y 11, 1S76 F i r s t National Bank, Leon. Iowa Anderson County National Bank, Lawronceburg, Ky ,. July 20, 1876 Aug. 7,1876 F i r s t National Bank, Newport, Ind Aug. 17, 1876 F i r s t National Bank, DePere, W i s Second National Bank, Lawrence, Ivans . Aug. 23, 1876 CommereialNational Bank, Versailles. K y Aug. 26, 1876 State National Bank, Atlanta, Ga \ Aug. :u. 1876 Syracuse National Bank, Syracuse, N. Y . Sept. 25,1876 FirotNationalBank, Northumberland.Pa Oct. 6, 1876 Nov. 14, 1876 F i r s t National Bank, Lancaster, Mo F i r s t National Bank, Council Grove, Nov. 28, 1876 Kans National Bank Commerce, Chicago, 111... Dec. 2, 1876 Dec. 12. 1876 F i r s t National Bank, Palmyra, Mo Dec. 16, 1876 F i r s t National Bank, Newton, Iowa National Southern Kentucky Bank, Dec. 23. 1876 Bowling Green, K y .' Jan. 1, 1877 F i r s t National Bank', Monroe, Iowa Jan.' 9. 1877 F i r s t National Bank, New London, Conn. WinonaDeposit National Bank, Winona, Jan. 28,1877 Minn F i r s t National Bank, South Charleston, Feb. 24.1877 Ohio Lake Ontario National Bank, Oswego, ....do .. N. Y Feb. 26,1877 F i r s t National Bank, Sidney, Ohio Apr. 9. 1877 Chillicothe National Bank, Ohio . F i r s t National Bank, Manhattan, Ivans.. Apr. 13, 1877 Apr. 23, 1877 National Bank, Monticello, K y Apr. 25, 1877 F i r s t National Bank, Rockville, Ind M a y 31, 1877 Georgia National Bank, Atlanta, Ga June 11, 1877 F i r s t National Bank, Adrian, Mich June 30, 1877 F i r s t National Bank, Napoleon, Ohio Aug. 1, 1877 F i r s t National Bank, Lancaster, Ohio Aug. 24, 1877 F i r s t National Rank, Minerva, Ohio Kinney National Bank, Portsmouth,Ohio. Aug. 28, 1877 Oct. 19,1877 F i r s t National Bank, Green Bay, Wis National Exchange Bank, AT akefield, R . I . Oct. 27.1877 F i r s t National Bank, Union City, Ind . . . Nov. 10, 1877 F i r s t National Bank, Negaunee, Mich . . . Nov. 13. 1877 Tenth National Bank, New York, N. Y .. Nov. 23, 1877 Dec. 1, 1877 F i r s t National Bank, Paola, Kans Dec. 6, J877 National Exchange Bank, Troy, N. Y Dec. 20.1877 Second National Bank, Lafayette, Ind State National Bank. Minneapolis,Minn.. Dec. 31,1877 Jan. 8, 1878 Second National Bank, St. Louis, Mo Capital. Issued. Retired. Outstanding. $75,000 $67, 500 $66, 869 $631 50,000 50,000 45, 000 44,658 44, 594 342 406 45, 000 100, 000 80, 617 663 46,265 555 81.280 100,000 100, 000 50, 000 100, 000 100, 000 50,000 100, 000 100, 000 50, 000 50, 000 55, 000 150,000 46, 820 65, 991 45, 000 90, 000 59, 710 45, 000 90, 000 90, 000 45, 000 45, 000 49, 500 90,000 65,140 44,512 88, 633 58, 345 43, 049 88, 592 89.197 44, 626 44, 408 48,505 88,143 851 488 1,367 1,365 1, 951 1,408 803 374 592 995 1,857 100, 000 50, 000 50,000 70, 000 100, 000 50, 000 200, 000 100, 000 50, 000 50,000 60, 000 45, 000 45, 000 45, 000 63, 000 45, 000 45, 000 68, 929 50, 795 45, 000 45,000 45, 000 44.162 44, 483 44, 506 62, 564 44, 070 44, 675 68, 325 49, 530 44, 576 44, 692 44, 213 838 517 494 436 930 325 604 1,265 424 308 787 100,000 60. 000 50, 000 100, 000 170, 000 200, 000 200, 000 100. 000 50, 000 45, 000 45, 000 31,500 67,500 153,000 73, 725 117, 961 62,106 27, 000 44, 740 44. 488 31, 259 66, 830 151,339 72, 805 114,628 60, 341 26, 857 260 512 241 670 1;661 920 3,333 1,765 143 000 000 000 000 26,500 71, 465 46, 140 45, 000 26.163 70, 261 44, 963 43,926 337 1,204 1,177 1,074 50, 000 60, 000 100, 000 27,000 35, 700 38, 300 26, 772 35, 411 36, 691 228 289 100, 000 63, 285 61, 947 50, 250, 100, 50, 100, 000 90,000 88,154 275, 000 52,000 100, 000 52,000 60, 000 200, 000 100, 000 100, 000 50, 000 60, 000 50, 000 100, 000 50, 000 70, 000 50,000 50, 000 500, 000 50, 000 100, 000 200, 000 100, 000 200, 000 66, 405 46, 200 53, 825 44, 200 49, 500 173, 090 45, 000 43, 500 45, 000 54, 000 45, 000 90, 000 45, 000 34, 650 45, 000 45, 000 441, 000 44,350 90. 000 52i 167 82, 500 53, 055 62, 371 45, 272 52, 320 43, 638 48, 590 170, 285 43, 705 42, 936 44,180 52, 382 44, 393 89,000 43, 941 33,911 44,065 44, 270 423, 516 43, 577 87, 945 48, 819 80, 411 48, 980 1,609 1,338 1,846 4,034 928 1,505 562 910 2,805 1,295 564 820 1,618 607 1,000 1,059 739 935 730 17, 484 773 2,055 3,348 2,089 4,075 REPORT OF THE COMPTROLLER OF THE CURRENCY. 249 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 or THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of "bank. Date of liquidation. First National Bank, Sullivan, Ind Jan. 8,1878 llockland County National Bank, Nyack, N. Y Jan. 10,: 1878 First National Bank, Wyandotte, Elans .. Jan. 19, 1878 First National Bank, Boone, Iowa , Jan. 22,1878 First National Bank, Pleasant Hill, Mo .. Feb. 7, 1878 National Bank of Gloversville, N. Y Feb. 28, 1878 First National Bank, Independence, Mo. Mar. 1, 1878 National State Bank, Lima, Ind Mar. 2,:1878 Eirst National Bank, Tell City, Ind Mar. 4, 1878 First National Bank, Pomeroy, Ohio Mar. 5, 1878 Eleventh Ward National Bank, Boston, Mass Mar. 14, 1878 First National Bank, Prophetstown, 111.. Mar. 19, 1878 First National Bank, Jackson, Mich Mar. 26, 1878 First National Bank, Eau Claire, Wis... Mar. 30, 1878 First National Bank, "Washington, Ohio. Apr. 5, 1878 First National Bank, Middleport, Ohio.. Apr. 20,1878 Apr. 24,1878 First National Bank, Streator, 111 Apr. 25,1878 First National Bank, Mnir, Mich Kane County National Bank, St. Charles, 111 May 31, 1878 First National Bank, Carthage, Mo June 1, 1878 Security NationalBank, Worcester, Mass. June 5, 1878 First N'ational Bank, Lake City, Colo June 15, 1878 People's National Bank, Norfolk, Ya July 31, 1878 Topeka National Bank, Topeka, Kans... jAug. 7, 1878 First National Bank, St. Joseph, Mo Aug. 13, 1878 First National Bank, Winchester, Ind... Aug. 24, 1878 Muscatine National Bank, Muscatine, Iowa Sept, 2, 1878 Traders' National Bank, Chicago, 111 | Sept. 4, 1878 Union National Bank, Kah way, N. J I Sept. 10,1878 First National Bank, Sparta, Wis Sept. 14,1878 Herkimer County National Bank, Little Oct. 11,1878 Falls, N. Y Nov. 22,1878 Farmers' National Bank, Bangor, Me Pacific National Bank, Council Bluffs, Nov. 30, 1878 Iowa Dec. 14, 1878 First National Bank, Anamosa, Iowa SmithfieldNational Bank, Pittsburg, Pa. Dec. 16, 1878 First National Bank, Buchanan, Mich... Dec. 21, 1878 ! Dec. 24,1878 First National Bank, Prairie City, 111 Corn Exchange National Bank, Chicago, Jan. 4, 1879 Franklin National Bank, Columbus, Ohio. ....do .. Jan. 14, 1879 Traders' National Bank, Bangor, Me ....do First National Bank, Gonic, N. H First National Bank, Salem, N. C do .. First National Bank, Granville, Ohio ....do .. Commercial National Bank, Petersburg, Y: .do . First National Gold Bank, Stockton, Cal. I do . First National Bank, Sheboygan, Wis.,. j do . First NationalBank, Boscobel, Wis Jan. 21, 1879 National Marine Bank, Oswego, N. Y Jan. 25, 1879 Central NationalBank, Hightstown, N.J . Feb. 15, 1879 Brookville National Bank, Brookville, Ind Feb. 18,1879 | Farmers' National Bank, Centreville, Feb. 27, 1879 Iowa Mar. ], 1879 First National Bank, Clarinda, Iowa WatervilleNationalBank, Waterville, Me | Mar. 3, 3879 Mar. 4, 1879 First National Bank, Tremont, Pa Apr. 15, 1879 First National Bank, Atlanta, 111 Apr. 22, 1879 Union National Bank, Aurora, 111 Apr. 26, 1879 National Bank of Menasha, Wis I National Exchange Bank, Jefferson City, Mo May 8, 1879 | May 15, 1879 j First National Bank, Hannibal, Mo Merchants' National Bank, Winona, June 16, 1879 Minn Farmers' NationalBank, Keithsburg, 111. July 3, 1879 July 5, 1879 First National Bank, Franklin, Ky July 8, 1879 National Bank of Salem, Salem, fnd Fourth National Bank, Memphis, Tenn. July 19, 1879 Bedford National Bank, Bedford, Ind . . . July 21, 1879 Aug. 15, 1879 First National Bank, Afton, Iowa Issued. Retired. Outstanding. $50,000 $45, 000 $44, 495 $505 100, 000 50,000 50, 000 50, 000 100, 000 50, 000 100, 000 50, 000 200,000 89, 000 45, 000 32, 400 45, 000 64, 750 27, 000 33, 471 44,500 75, 713 87, 436 44, 261 31, 855 44,198 63, 968 25, 671 32, 317 44, 03*0 72, 038 1,564 739 545 802 782 1,329 1,154 470 3, 625 200, 000 50,000 100, 000 60, 000 200, 000 80, 000 50,000 50, 000 89, 400 45, 000 88, 400 38, 461 69, 750 31, 500 40, 500 44, 200 88, 505 44,585 86, 665 37, 765 67, 314 31,125 40, 075 43,669 895 415 1, 735 696 2,436 375 425 531 50, 000 50, 000 100, 000 50, 000 100,000 100, 000 100,000 60, 000 26, 300 44,500 49, 000 29, 300 85, 705 89,300 67,110 52, 700 25, 878 43, 870 48, 490 29,119 84, 450 87, 774 65. 061 51, 204 422 630 510 181 1, 255 1.526 2,049 1,496 100, 000 200, 000 100. 000 50, 000 I 44,200 43, 700 89,200 45, 000 42, 531 40. 752 87,058 43, 964 1, 669 2,948 2,142 1,036 200,000 ! 100,000 I 178, 300 89,100 100, 000 50, 000 200,000 50, 000 50, 000 4,169 1,478 1,220 892 1,500 362 990 500,000 100, 000 100,000 60, 000 150, 000 50,000 45, 000 44, 500 78,750 27, 000 27, 000 59,160 93, 070 76, 400 45, 597 128, 200 34, 365 174,131 87, 622 43,780 43, 608 77, 250 26, 638 26, 010 53, 863 90,243 74,253 44, 031 125,425 33, 099 5,297 2,827 2,147 1,566 2,775 1,266 120, 000 300,000 50,000 50, 000 120,000 100, 000 99, 800 238, 600 45,000 43, 900 44,300 32.400 ; 97, 068 226,121 44, 282 42, 956 42, 028 31,918 2,732 12, 479 718 944 2,272 482 89,000 ; 100, 000 86, 570 2,430 50,000 50, 000 125,000 75,000 50, 000 125, 000 50, 000 41,500! 45,000 110, 300 64, 600 26, 500 82, 000 44,500 40,928 44, 277 107. 575 62, 373 26, 010 79,729 43, 607 572 723 2,725 2,227 490 2,271 893 50,000 100, 000 45,000 88, 200 35,000 27,000 54, 000 44, 400 45, 000 87, 200 26. 500 43. 975 84,911 1,025 3,289 34,437 26, 365 52, 725 43, 839 43, 555 85, 744 25, 744 563 635 1,275 561 1,445 1,456 756 100, 000 50, 000 100. 000 50. 000 125J000 100. 000 50, 000 250 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Date of liquidation. First National Bank, Deer Lodge, Mont.! AUJJ. 16,1879 First National Bank, Batavia, 111 [ Aug. 30,1879 National Gold Bank and Trust Company, Son Francisco, Cal Sept. 1,1879 Gainesville National Bank, Gainesville, Ala Nov. 25,1879 First National Bank, Hackensack, N. J . . Dec. 6.1879 National Bank of Delevan, Delevan, Wis. Jan. 7.1880 Mechanics' National Bank, Nashville, Tenn Jan. 13,1880 Manchester National Bank, Manchester, Ohio do First National Bank, Meyersdale, Pa I Mar. 5,1880 First National Bank, Mittiinburg, Pa | Mar. 8,1880 National Bank of Michigan, Marshall, May 14,1880 Mich . National Exchange Bank, Houston, Tex. Sept. 10,1880 Ascutney National Bank, "Windsor, V t . . Oct. 19,1880 | First National Bank, Seneca Falls, N. Y.I Nov. 23,1880 First National Bank, Baraboo, Wi: Nov. 27,1880 Bundy National Bank, Newcastle, Ind . . Dec. 6,1880 Vineiand National Bank, Vineland, N. J . Jan. 11,1881 Ocean County National Bank, Toms Kiver, N. J * .do. Hungerford National Bank, Adams. N.Y. J a n . 27,1881 Merchants' National Bank, Minneapolis, Minn J a n . 31,1881 j F a r m e r s ' National Bank, Mechanicsburg, Ohio Feb. 18,1881 ' F i r s t National Bank, Green Spring, Ohio. do F i r s t National Bank, Cannon Falls, I Minn ! Feb. 21,1881 F i r s t National Bank, Cosliocton, Ohio . J do Manufacturers' National Bank. Three Rivers, Mich Feb. 25,1881 F i r s t National Bank,, Lansing, ....d g, Iowa Yh st National N t i l Bank, B k W Watertown, N N.Y Y. May 26,1881 | June 17,1881 I F i r s t National Bank, Auiericus, Ga F i r s t National Bank, St. Joseph. M i c h . . J u n e 30,1881 ! J u l y 8,1881 I F i r s t National Bank, Logan, Ohio Aug. 9,1881 i F i r s t National Bank, Rochelle, 111 Aug. 10,1881 F i r s t Nationl Baiuc, Shakopee, M i n n . . Aug. 13,1881 National State Bank, Oskaloosa, Iowa. Aui;. 27,1881 First National Bank, Hobart, N. Y Fi N t i l B k H b N Y Aug. 30,1881 Attica National Bank, Attica, N. Y Oct. 4, 1881 | National Bank of "Brighton, Boston,Mass. Clement National .Bank, Rutland, Vt. A .. Aug. 1,1881 Auir. l, First National Bank, Lisbon. Iowa Nov. 1,1881 First National Bank, Warsaw, Ind j Dec. 1,1881 Brighton National Bank, Brighton, Iowa, j Dec. 15,1881 Merchants' .National Bank, Denver, Colo. Dec. 24,1881 Merchants' National Bank, Holly. Mich.I Dec, 31,1881 First National Bank, Alliance, Ohio J a n . 3,1882 National Union Bank, New London, I Conn ' Jan. 10,1882 National Bank of Roy alt on, Vt I do First National Bank, Whitehall, N . Y . . J a n . 18,1882 National Bank of Pulaski, Tenn I Jan. 23,1882 First National Bank, Alton, 111 j Mar. 30,1882 Havana National Bank, Havana, N. Y..j Apr. 15, 1882 First National Bank, Brownsville. Pa . J May 2,1882 Second National Bank, Franklin, I n d . . . j J u n e 20,1882 Merchants' NationalBank, Georgetown, Colo J u n e 22,1882 Commercial National Bank, Toledo, Ohio.; July w,., iUUi , 1882 Harmony National Bank, Harmony, Pa. J u l y 7,1882 First NationalBank, Liberty, Ind J u l y 22,1882 Manufacturers' National Bank, Amster- | dam, N . Y ' Aug. 1,1882 F i r s t National Bank, Bay City, Mich i Nov. 8,1882 First National Bank, Ripley,"Ohio , Nov. 10,1882 National Bank of State of New York, New York, N. Y Dec. 6,1882 F i r s t National Bank, Wellington, Ohio.; Dec. 12,1882 Second National Bank, Jefferson, Ohio.. j Dec. 26,1882 First National Bank, Painesville, Ohio . '! Dec. 30, 1882 Saint Nicholas National Bank, New .do . York, N . Y | Capital. Issued. Retired. Outstanding. $50,000 50, 000 $45,000 44, 300 $44, 020 42, 482 980 1,818 750, 000 40, 000 29, 835 10, 165 100,000 100,000 50, 000 90, 000 90, 000 27, 000 87, 744 88, 190 25, 995 2, 256 1,810 1,005 100,000 90, 000 86, 550 3,450 50, 000 50, 000 100,000 48, 303 30, 600 90, 000 46, 958 30, 210 87,185 1,345 390 2,815 120, 000 100, 000 100,000 60, 000 50, 000 50. 000 50,000 100, 31, 90, 54, 27, 45, 45, 800 500 000 000 000 000 000 97, 726 30, 896 87, 521 52, 828 26,437 44,584 44,466 3,074 . 604 2 479 100, 000 50, 000 119, 405 45, 000 115,450 42, 673 3,955 150,000 ! 98,268 96, 490 100, 000 i 50,000 | 30,140 45, 000 29,175 44,129 50, 000 ! 50, 000 45,000 53, 058 44, 483 51, 984 965 871 517 1,074 000 000 510 000 500 000 000 000 665 000 000 000 44, 045 43, 617 72, 205 44,049 25, 706 43. 690 44, 115 43, 755 79, 400 87, 471 44, 430 262, 880 955 1, 353 3, 305 951 794 1, 310 885 1,245 2, 2(55 2, 52:) 570 7, 120 li 172 563 416 534 2, 327 1,778 50, 000 50, 000 100, 000 60,000 50, 000 50,000 50, 000 50, 000 50, 000 100, 000 50,000 300, 000 100, 000 50, 000 50, 000 50, 000 120, 000 50, 000 50, 000 45, 45, 75, 45, 26, 45, 45, 45, 81, 90, 45, 270, 45, 000 48, 500 45, 000 72, 000 45, 000 45, 000 44, 200 47,070 44, 077 71, 000 44, 073 43, 949 8;;o 1,430 923 1,000 927 1,051 300, 100, 50, 70, 100, 50, 75, 100, 000 000 000 000 000 000 000 000 112, 818 90, 000 45, 000 43, 700 90, 000 45, 000 67,500 81,060 108,971 87, 649 42,851 42,120 86, 751 43, 519 64,930 76, 670 3,847 2, 351 2,149 1. 580 3, 249 1.481 2, 570 4,390 50, 100, 50, 60, 000 000 000 000 45, 000 90, 000 45, 000 54,000 44, 263 88.160 44,100 52, 499 737 1,840 1)00 1,501 80,000 400,000 100, 000 72, 000 156,100 69, 201 70, 610 151, 908 64, 654 1,390 4,192 4,547 800,000 100, 000 397,004 90, 000 90, 000 162, 800 385,492 87. 537 87, 460 156,347 11, 512 2, 463 2,540 6,453 450,000 428,600 21,400 ioo, ooo 200, 000 I 500,000 ! * N e w bank with same title. REPORT OF THE COMPTROLLER OF THE CURRENCY. 251 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Date of liquidation. Capital. Issued. Retired. Outstanding. Fifth National Bank, Chicago, 111 Dec. 30.1882 $500, 000 $29,700 $23,119 First National Bank, Dowagiac, Mich . .. I Jan. 3,1883 50, 000 45. 000 43, 493 First National Bank, Greenville, 111 i Jan. 9,1883 57,194 150,000 59,400 Merchants' National Bank, East Saginaw, Mich .do 200, 000 101,100 96,602 Logan County National Bank Eussell ville. Ky 50,000 40, 050 39. 070 ....do National Bank of Vandalia, 111 100,000 90, 000 Jan. 11, 1883 87, 070 Traders1 National Bank, Charlotte, N. C. Jan. 16,1883 50, 000 38, 800 37, 744 First National Bank, Norfolk, Nebr Feb. 3,1883 45,000 11, 240 11, 060 Fiist National Bank, Midland City, Mich. * Feb. 5,1883 30, 000 Citizens' National Bank, New Ulm, Minn Mar. 1,1883 26, 400 50. 000 27,000 National Bank of Owen, Owenton, Ky .. Mar. 5,1883 48,900 56, 000 47, 525 Merchants National Bank, Nashville, Ten n June 30,1883 300, 000 137,750 141,200 Indiana National Bank, Bedford, Ind 35, 000 11, 250 11,250 Aug. 25,1883 Stockton National Bank, Stockton, Cal .. Oct. 1, 1883 100, 000 90, 000 88, 490 Wall Street National Bank. New York, NY Oct. 15.1883 500, 000 94,176 102, 800 Commercial National Bank, Heading, Pa. Oct. 23,1883 150, 000 135, 000 132,230 Corn Exchange National Bank, Chicago. 111.* i Nov. 10,1883 700, 000 Farmers' National Bank, Sullivan, Ind . Dec. 24,1883 43, 590 50,000 j • 45,000 City National Bank, La Salle, 111 21,830 I Jan. 8,1884 100,000 I 22, 500 Hunt County National Bank, Greenville, Tex 17,300 Jan. 22,1884 68,250 ! 16, 750 Waldoboro National Bank, Waldoboro, Me Jan. 31,1884 50, 000 i 42,121 44,000 Third National Bank, Nashville, Tenn .. Feb. 20,1884 300,000 ! 167, 600 162,475 Madison County National Bank, Anderson, Ind Mar. 25,1884 50,000 i 45, 000 43,970 First National Bank, Phoenix, Ariz Apr. 7,1884 50,000 ! 11,240 11,070 Cobbossee National Bank, Gardiner, Me. Apr. 18,1884 150,000 90,000 86, 231 Mechanics and Traders' National Bank, New Y orkT N. Y Apr. 24,1884 79,185 200,000 85, 400 Princeton National Bank, Princeton, N. J May 17,1884 70, 410 100, 000 72, 500 Kearsarge National Bank, Warner, N. H June 30,1884 22, 587 50, 000 23,586 scond National Bank, Lansing, Mich-. July 31,1884 37,117 ! 50, 000 40, 000 Secc First National Bank, Ellensburg, Wash.. Aug. 9,1884 13,280 ' 50, 000 13, 500 German'National Bank, Millerstown, Pa- Aug. 12,1884 42, 505 50, 000 45,000 Ex change National Bank, Cincinnati, Ohio Aug. 27,1884 75, 430 500,000 78, 000 First National Bank, Kushville, 111 Sei>t. 30, 1884 63, 073 66, 500 75,000 Mechanics' National Bank, Peoria, 111... Oct. 4,1884 68, 413 72,000 100, 000 First National Bank, Freeport, Pa Oct. 10,1884 42, 230 50, 000 44, 200 Genesee County National Bank, Batavia, Oct. 11,1884 50, 000 43,895 45,000 NY 22,150 20,970 Valley National Bank, Red Oak, Iowa... Oct. 20, 1884 50,000 Merchants' National Bank, Bismarck, Oct. 28,1884 N. Dak 73,000 22, 50022,140 Manufacturers' National Bank, MinneNov. 1,1884 apolis, Minn 300,000 45,000 43, 810 Farmers and Merchants' National Bank, .Uhrichsville, Ohio Nov. 10,1884 50, 000 34, 600 33, 570 Metropolitan National Bank, New York, NoV. 18,1884 3, 000, 000 1,447,000 NY 1,353,312 First National Bank, Grand Forks, N. Dak Dec. 2,1884 18,910 50, 000 19, 250 Iron National Bank, Gunnison, Colo Dec. 3,1884 50, 000 11, 250 11, 000 Freehold National Banking Company, Freehold, N". J Dec, 10,1884 50, 000 93,000 88, 028 Albia National Bank, Albia, Iowa Dec. 16,1884 50,000 11, 240 11,020 First National Bank, Carlinville, 111 do 22, 450 21, 092 50, 000 Freeman's National Bank, Augusta, Me. Dec. 26, 1884 90, 000 85, 732 100,000 Firat National Bank, Kokomo, Ind...... Jan. 1,1885 42, 915 250, 000 45, 000 10, 585 First National Bank, Sabetha, Kans Jan. 2,1885 10, 740 50, 000 First National Bank, Wyoming, 111 Jan. 13,1885 10, 820 11,2 0 50, 000 40, 600 First National Bank, Tarentuni, Pa do 42,500 50, 000 First National Bank, Walnut, 111 Jan. 21,1885 36, 000 60/000 34, 990 Farmers'National Bank, Franklin, Tenn. Jan. 24,1885 10,740 10, 500 50, 000 Citizens'National Bank, Sabetha, Kans. Jan. 27,1885 11,240 10, 990 50, 000 27, 550 First National Bank, Tucson, Ariz Jan. 31,1885 28,100 100, 000 15, 885 Kipon National Bank, Kipon, Wis Feb. 7, 1885 16, 200 50, 000 26, 235 Farmers' National Bank, Franklin, Ohio. Apr. 1,1885 27,350 50, 000 * No circulation issued. 6, 581 1, 507 2,206 4,498 980 2, 930 1,056 180 600 1,375 3,450 1, 510 8, 624 2, 770 1,410 670 550 1,879 5,125 1,030 170 3,769 6,215 2,090 999 2,883 220 2,495 2, 570 3,427 3,587 1, 970 1, 105 1,180 360 1,190 1,030 93, 688 340 250 4,972 220 1,358 4,268 2,055 155 383 1,900 1, 010 240 250 550 315 1,115 252 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Issued. First National Bank, Prescott, Ariz | Apr. 9,1885 National Union Bank, Swanton, Vt | Apr. 28,1885 German National Bank, Memphis, Tenn.j May 6,1885 Merchants and Farmers' National Bank, lOutstand! ing. $50,000 50, 000 175,300 $11, 250 43, 800 120,100 $10, 920 41, 470 108, 393 2,230 11, 707 50,000 60, 000 100, 000 10,240 18, 900 72,000 10, 000 18, 510 68, 469 240 390 3,531 106,200 66. 800 25,100 27,350 101,110 63,131 16, 441 25, 650 5,090 3,669 8, 659 1,700 45, 000 11,250 44, 960 23, 490 26, 500 43,227 10, 820 41,775 22, 550 25, 470 1,773 430 3,185 940 1,030 11,240 11, 240 13, 490 89, 520 25, 760 33, 750 45, 000 35, 490 15, 500 10, 970 10, 640 12, 940 83,881 25,130 32, 380 44, 370 32, 744 14, 660 270 600 550 5,639 630 1,370 630 2,746 840 11,240 11, 250 39, 680 13, 410 11,240 10, 630 36, 827 12, 320 620 2.853 1,090 45, 000 45, 000 39, 310 45, 000 96,140 45, 000 45,000 42, 757 41,950 37, 470 42, 380 88,440 42, 230 43,372 2,243 3,050 1,840 2, 620 7,700 2,770 1,628 22, 500 162, 325 11,250 21, 450 153,375 10, 970 1, 050 8,950 280 11,250 45, 000 11, 250 13, 892 18, 000 38, 250 13,500 10, 700 43,172 10, 350 11, 284 16,870 34, 325 12,575 550 1,828 900 2,608 1,130 3,925 925 22, 500 237,230 75, 610 42, 500 27, 000 21,690 221, 907 71,380 37, 968 26, 090 810 15, 323 4, 230 4,532 910 22, 500 21, 470 1,030 11,250 11, 250 10, 620 10, 325 630 925 22, 500 11,250 11,250 47,205 11,250 11, 250 11, 700 45, 000 22,500 10,750 21,550 10, 925 10, 460 44, 977 10,885 10, 925 11,330 43,060 21,780 10, 160 950 325 790 2,228 365 325 370 1,940 720 590 39, 580 36, 314 3,26 land, R. I June 5,1885 125, 000 100,000 First National Bank, Columbia, Tenn... 1 July 14,1885 Union National Bank, New York, N. Y . . | July 21,1885 1, 200, 000 First National Bank, Centerville, I n d . . . ; Oct. 3,1885 50, 000 Manufacturers' National Bank, Apple- j: 50, 000 ton, Wis Oct. 10,1885 50, 000 First National Bank, Plankinton, S. Dak. Oct. 21,1885 250,000 Valley National Bank, St. Louis, Mo Dec, 4,1885 50,000 First'National Bank, Belton, Tex Jan. 0, 1886 50, 000 First National Bank, Granville, Ohio j Feb. 15,1886 Concordia National Bank, Concordia, 50, 000 Kans ! Mar. 12,1886 50,000 Citizens' National Bank, Beloit, Wis i Mar. 22,1886 50, 000 First National Bank, Dayton, Wash ! Mar. 24.1886 100, 000 First National Bank, Macomb, 111 ! Apr. 14,1886 50, 000 First National Bank, Jesup, Iowa I Apr. 20,1886 150,000 ' ~ May 8,1886 Dallas National Bank, Dallas, Tex. 50, 000 May 12.1886 First National Bank, Lewistown, 111 100. 000 First National Bank, Cedar'Rapids, Iowa May 28; 1886 50, 000 First National Bank, Socorro, N. Mex . . . July 31,1886 Custer County National Bank, Broken 50, 000 Bow,Nebr .,-. Aug. 9,1886 50, 000 Roanoke National Bank, Eoanoke, Va -.. | Sept. 16,1886 50,000 First National Bank, Brownville, Nebr.. . . . . d o 50,000 First National Bank, Leslie, Mich Sept. 25,1886 Mount Vernon National*. Bank, Mount Oct. 11,1886 51,100 VeiTion, 111 Oct. 14,1886 50, 000 National Bank, Piedmont. W. Ya Oct. 20, 1886 50. 000 First N.itional Bank, St. Clair, Mich Oct. 21.1886 50, 000 First National Bank, Milford, Mich ilo 125,000 National Bank of King wood, W. Va 50, 000 Merchants' National Bank, Lima, Ohio .. Oct. 22.1886 50,000 Hubbard National Bank, Hubbard, Ohio. Oct. 23,1886 CommercifJ National Bank, Marshall100, 000 Oct. 25,1886 town, Ohio 500,000 First National Bank, Indianapolis, I n d . . Nov. 11.1886 Nov. 27,1886 50, 000 First National Bank, Concord, Mich Jamestown National Bank, Jamestown, Nov. 29,1886 59, 000 N. Dak Dec. 1,1886 50,000 First National Ba,nk, Berea, Ohio Dec. 6,1886 50, 000 First National Bank, Allerton, Iowa Second National Bank, Hillsdale, Mich.. Dec. 18,1886 50, 000 Toptoji National Bank. Topton. Pa Dec. 28, 1886 50, 000 First National Bank, Warsaw, 111 Dec. 31,1886 50, 000 50, 000 First National Bank, Hamburg, Iowa do Darlington National Bank, Darlington, 100,000 S. C ,"". T Feb. 10.1887 i 500, 000 Union National Bank, Cincinnati,Ohio.. Feb. 14,1887 Roberts' National Bank, Titusville, Pa.. i Feb. 28,1887 I 100,000 100,000 National Bank of Rah way. N. J I Mar. 9,1887 GO, 000 Olney National Bank, Oliiey, 111 Mar. 11,1887 Metropolitan National Bank. Leaven100,000 worth, Ivans Mar. 15,1887 Ontario County National Bank, Canan50,000 daigua, N. Y Mar. 23.1887 50, 000 Winsted National Bank, Winsted, Conn. Apr. 12,1887 j Council Bluffs National Bank. Council 100, 000 Bluffs, Iowa ! May 5,1887 50, 000 First 111 - • National — •• - Bank, - - - Homer, — June 22, 1887 50,000 First National Bank. Beloit, Wis June 30,1887 52. 450 Mystic National Bank, Mystic, Conn . . . July 7,1887 50, 000 Exchange National Bank,Louisiana,Mo. July 12,1887 50, 000 Exchange National Bank, Downs, Ivans - Aug. 1,1887 50, 000 First National Bank, Tocumseh. Nebr .. Nov. 3,1887 500,000 Third National Bank, St. Paul, Minn Nov. 4,1887 100, 000 First National Bank, Marshall, Mo Dec. 6,1887 50,000 First National Bank, Greene, Iowa I Dec. 15,1887 i 300,000 Fulton National Bank, New York.N.Y.* .; Dec. 20,1887 Fayettevillc National Bank, Fayette200, 000 ville, N. C Dec. 31,1887 * No circulation. Retired. REPORT OF THE COMPTROLLER OF THE CURRENCY. 253 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Date of liquidation. National Bank, Somerset, Ky Dec. 31, 1887 First National Bank, Richburg, N. Y Jan. 10, Scitaate National Bank, Scituate, R. I . . . Jan. 11, 1888 National Bank, Franklin, Ind Jan. 31, 1888 First National Bank, Hampton, Iowa Feb. 1, First National Bank, Greensburg, Kans. Feb. 10, 1888 First National Bank, Central City, Ncbr. Feb. 11, Duluth National Bank, Duluth, Minn ... Feb. 20, Bismarck National Bank, Bismarck, N. Dak Mar. 1, 1888 First National Bank, Ashton, S. Dak . . . Mar. 6, 1888 Citizens' National Bank, Sioux Falls, S. Dak Apr. 24, 1888 First National Bank, Stan ton, Mich Apr. 30, 1888 First National Bank, Fairmont, Nebr May 1, 1888 First National Bank, Greenleaf, Kans . . . May 9, 1888 National Bank G-enesee, Batavia, N. Y . . . May 21, 1888 Strong City National Bank, Strong City, Kans May 26, 1888 Citizens' National Bank, Saginaw, Mich. June 1, 1888 Sausrerties National Bank, Saugerties, NY Y June 16, 1888 Hyde National Bank, Titusville, P a June 21, 1888 State National Bank. Omaha, Nebr July 18, 1888 Cincinnati National Bank, Cincinnati, Ohio A u g . 1,1888. First National Bank, Worthington, Minn Sept. 5,: South Framingham National Bank, South Framingham, Mass Sept. 8, 1888 First National Bank, Alameda, Cal 1888 Sept. 4, First National Bank, Grass Valley, Cal. ! Sept. 18,1888 Merchants' National Bank of West Virginia, Morgantown, W. Va Oct. 4, 1888 First National Bank, Cawker City, Kans. Oct. 9, 1888 San Diego National Bank, San Diego, Cal Nov. 7, 1888 National Exchange Bank, Auburn, N. Y- Nov. 16, 1888 National Bank of Dayton, Wash Nov. 21, 1888 First National Bank, Colby, Kans ....do .. First National Bank, Russell Springs, Kans ....do .. First National Bank, Columbia, S. Dak.. Nov. 26, 1888 Citizens' National Bank, Kingman, Kans Dec. 24, 1888 Bowery National Bank, New York, N. Y . Jan. 2, 1889 Second National Bank, Ionia, Mich Jan. 8, 1889 First National Bank, Johnstown, N. Y . . Jan. 16, 1889 First National Bank, Canandaigua, N. Y . Jan. 26, 1889 Pendleton National Bank, Peudleton, Oreg Feb. 4, 1889 Iowa City National Bank, Iowa City, Iowa "... Feb. 7, 1889 Fleming County National Bank, Flemingsburg, Ky Feb. 9, 1889 Merchants' National Bank, El Dorado, Kans Feb. 26: 1889 Merchants' National Bank, Des Moines, Iowa Mar. 1, Norwich National Bank, Norwich, Conn. Mar. 15, 1889 First National Bank, Franklin, Nebr Mar. 27, 1889 Farmers and Mechanics' National Bank, Buffalo, N. Y Apr. 3, 1889 First National Bank, Du Bois City, Pa .. Apr. 8, 1889 First National Bank, Cimarron, K a n s . . . Apr. 27, 1889 Traders' National Bank, San Antonio, Tex Apr. 29, 1889 Merchants' National Bank, Duluth, Minn May 20, 1889 Wright County National Bank, Clarion, J u n e 19, 1889 Iowa J u n e 29, National Bank, Lawrence, Kans ....do.. National Bank, Le Roy, N. Y HalsteadNationalBank, Halstead,Kans. . . . . d o . . Farmers' National Bank, Mount Sterling, Ky July 1, 1889 First National Bank, Keyport, N. J ....do .. National Bank, Huntsville, Ala July 3, 1889 German National Bank, Newton, Kans .. July 19, 1889 First National Bank, Clay Center, Nebr.. I Aug. 8,1889 Capital. Issued. Retired. Outstanding. $50, 000 50, 000 56, 000 50, 000 50, 000 50, 000 50;000 300, 000 $45, 000 25, 905 35, 018 11, 250 11, 250 11, 240 10, 710 45, 000 $39, 605 24, 750 32, 486 10,665 10,520 10, 935 10, 290 42, 340 50,000 50, 000 11,250 11, 250 10, 470 10, 820 780 430 50, 000 50,000 50, 000 50, 000 75, 000 11, 250 11, 250 11, 250 11, 250 44, 434 11, 025 10, 620 10,850 10, 970 39. 033 225 630 400 280 5, 401 50, 000 100,000 11, 250 45,000 10, 800 41, 670 450 3,330 125, 000 300,000 100, 000 93,316 74, 730 22,500 84, 418 62, 900 20,700 11, 830 1,800 280,000 52, 510 47,180 5,330 75, 000 16, 875 16, 330 545 100, 000 100, 000 50, 000 21, 720 27, 000 11, 250 19,180 24,130 10,480 2,540 2,870 770 110, 000 50, 000 80, 830 11, 250 72, 270 10, 210 8,560 1, 040 100,000 200,000 50, 000 50,000 22, 500 97, 520 11. 250 11, 250 20, 200 87, 500 10, 340 10, 910 2,300 10, 020 910 340 50, 000 50,000 50,000 250,000 50, 000 100, 000 75, 000 10,690 11, 250 11,250 217, 710 21, 870 86, 590 17,100 10, 210 10,835 10,190 194,460 17, 935 82, 818 13,585 480 415 1, 0G0 23,250 3 935 3,' 772 50,000 11,250 10, 560 45, 000 40, 680 $5, 395 1,155 2, 532 585 730 305 420 2,660 3, 515 690 4,320 50,000 26, 622 22, 824 100,000 22, 500 21, 640 100, 000 220,000 60,000 200,000 50,000 50,000 22, 500 77,150 13, 000 19,985 64,325 12, 579 2,515 12, 825 421 26, 100 11,250 j 10,170 I 21, 449 10,340 4,651 910 100, 000 22,500 19,870 200, 000 45. 000 43,190 50, 000 100, 000 100, 000 50, 000 11, 250 49, 809 22, 500 11, 250 10,170 42, 222 20, 360 10, 570 250, 000 50, 000 50,000 60, 000 50, 000 195,680 11,250 44, 900 13,500 11,250 166, 080 10,710 36, 752 12, 310 10,730 3,798 285 2,630 1,810 1,080 7,587 2,140 680 29, 600 540 8,148 1,190 520 254 EEPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO VISIONS or SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. CirculationName and location of b a n k . Date of liquidation. Ver nonNational Bank, Vernon, Tex.*... Aug. 17,1889 Butler National Bank, Butler, Mo Aug. 23,1889 Sec ond National Bank, Lebanon, Tenn .. Sept. 18,1889 National Bank, Kinderhook, N. Y Oct. 1,1889 First National Bank, Woodstock, 111 Oct. 31,1889 Farmers and Merchants' National Bank Valley City, N. Dak Dec. 1, 1889 011 ion National Bank, La Crosse, Wis... Dec. 9, 1889 | Harper County National Bank, Anthony, Kans Dec. 20,1889 I Lumberman's National Bank, Williamsport, Pa Dec. 31,1889 First National Bank, South Haven, Mich. do. Durango National Bank, Durango, Colo.. I J a n . G, 1890 First National Bank, Fox Lake, TV is Jan. 11, 1890 First National Bank, Ogallala, Nebr Li First National Bank, Stockton, Kans J a n . 15, 1890 First National Bank, Rulo, Nebr J a n . 20, 1890 ! ! First National Bank, Eaule Grove. Iowa. d Toledo National Bank, Toledo, Ohio Jan. 21,1890 i National Exchange Bank, Kansas City, Mo Jan. 28,1890 ; Nationnl Bank, New Castle, Ky Feb. 4, 1890 Plymouth National Bank, Plymouth, Feb. 25 1890 Mich : Feb. 28,1800 i First National Bank, Loekport. N. Y Merchants' National Bank, Amsterdam, Mar. 15.3890 NY National Bank of Texas, Galveston, Tex. Mar. 19. Mar. 27,1890 | Bowie National Bank, Bowie, Tex.* First National Bank, Union Springs,N. Y. Mar. 31,1890 Apr. 18,1890 Ferris National Bank, Swanton. Vt Apr. 19,1890 First National Bank, Rock Island. Ill First National Bank, Ketchum, Idaho . . . Apr. 28,1890 Winchester National.Bank, Winchester, Apr. Ky p 29,' , 1890 First National Bank, Harper, Kans Apr. 30, 181H) j First National Bank, Loup City, Nebr... June21, 18!;0 ! American National Bank, Waco, Tex J u n e 24, 1890 Hamilton County National Bank, WebJune 30, 1890 ster City, Iowa Planters'National Bank, Henderson, Ky. ! . . . . d o .; Wakeiield Nat ional Bank, Wakeiield. 1L I. J u l y 1, Jewell County National Bank, Mankato, | July 2, 1800 Kans i AuiT. 5, "iXi'O Citizens' National Bank, Flint, Mich ; Aug. 28, 1890' N. Village Bank, Bowdoiuham, Me La Favetto National Bank, La Fayette. Ind.' .'. Aug. 29, 1890 Sept. 8, 1890 ; Lincoln National Bank, Stanford, Ky Canastota National Bank, Canastota, 1 Sept. 25,1890 \ N. Y First National Bank, Whitehall, Mich .. Sept. 30,1890 ; Meade County National Bank, Meade J Oct. G, 1890 Center, Kans Farmers' National Bank, South Charles! Oct. 15,1890 ton, Ohio do | First National Bank, Columbus. Ohio... ! Commercial National Bank, St. Paul, I Oct. 27,1890 | Minn German-American National Bank, KanDec. 5, 1890 sas City, Mo Dec. 20, 1890 First National Bank, Hill City, Kans First National Bank, Frankfort, Kans .. Jan. .8. 1891 ! Jan. 13,1891 Second National Bank, Owosso, Mich West Side National-Bank, Wichita. Kans. I d o Anthony National Bank, Anthony, Kans. . . . . d o Commercial National Bank, Rochester, J a n . 27, 1891 N. Y Mercantile National Bank, Louisiana, .do . Mo Feb. 9, 1891 National Bank, El Dorado, Kans Feb. 12,1891 First National Bank, Suffolk, Va Citizens'National Bank, Medicine Lodge, Feb. 19,1891 Kans Feb. 23,1891 Rome National Bank, Rome, Ga * No circulation. apital. Issued. $G0, 000 GO,000 50, 000 125, 000 50, 000 Retired. Outstanding $14, 850 11, 250 78, 220 27,000 $13, 285 8, 970 67, 639 24, 050 $1,565 2,280 10. 581 2,950 65, 000 100, 000 u, ero 12,850 20,860 1,780 1,640 22, 500 50, 000 11, 250 9, 820 1,430 100, 000 50, 000 50, 000 50, 000 50, 000 50, 000 50, 000 50, 000 100,000 32,580 11,250 11,250 48, 605 11, 250 11,250 30, 360 11, 250 35, 920 26, 295 9,591 11,250 42,479 10,180 10, 370 26, 570 10, 620 26, 695 6,285 1, 659 200,000 60, 000 45, 000 17, 670 38, 590 14,590 6,410 3,080 50, 000 100,000 11,250 28, 573 10, 365 21,952 885 6, 621 100, 100, 50, 50, 50. 100, 50, 000 000 000 000 000 000 000 32, 680 37, 487 30, 390 31,102 2,290 6, 385 15, 805 11, 240 24, 654 11,250 12, 034 11, 240 20. 428 10,240 4,226 1,010 200, 000 50. 000 50. 00(1 250,000 45, 000 Jl, 250 11,250 45,000 36, 400 9,790 10, 480 37, 600 8,600 1, 460 770 7,400 50, 000 150. 000 100,000 11,250 33, 750 59, 249 10,090 27,810 49, 688 1,160 5, 940 9,551 50, 000 125, 000 50, 000 11.250 32, 641 35, 748 10, 360 24, 725 29, 242 890 7,916 6,506 300, 000 200, 000 64, 033 45, 000 46,610 40,270 17,423 4,730 55,000 50,000 55, 927 11,250 44, 865 8,590 11, 062 2,660 6,126 1,070 880 3,790 630 9,225 3,771 50, 000 11, 250 9,370 1, 880 50, 000 300,000 11,710 220.465 10, 040 178,416 1,670 42,049 500, 000 45, 000 37,100 7,900 250,000 50, 000 100, 000 60, 000 100, 000 50, 000 45, 000 10, 750 22,500 13, 500 22, 500 10, 750 37, 030 9,650 19, 550 11, 970 18, 260 8,630 7, 970 3,100 2,950 1,530 4,240 2, 120 200, 000 41, 820 33,170 8,650 50, 000 50,000 50, 000 11, 250 10, 745 11, 250 8,740 8,705 9, 260 2 510 2. 040 1,990 50, 000 100, 000 11, 250 22, 500 9,808 19,070 1,442 3,430 REPORT OF THE COMPTROLLER OF THE CURRENCY. 255 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. N a m e and location of b a n k . Windsor National Bank, Windsor, Vt.. Beadle County National Bank, Huron, S.Dak American National Bank, Sioux City, Iowa United States National Bank, Atchison, Kans First National Bank, Ashland, Kans... Washington National Bank, New York, NY. First National Bank, Burr Oak, Kans.. Glen wood National Bank, Glen wood Springs, Colo First National Bank, Cardiff, Teim East Saginaw National Bank, East Sag- Date of liquidation. Capital. Issued. iOutstanding. Feb. 24, 1891 $50, 000 $22, 500 $18,705 | $3,795 Feb. 26, 1891 50, 000 22, 500 17, 710 4,790 Mar. 12, 1891 150,000 33,750 30,015 | 3,735 Mar. 24, 1891 Apr. 15, 1891 250,000 50,000 45, 000 13,250 j 35,730 ! 9, 680 j 9,270 1,570 Apr. 13, 1891 May 15, 1891 300, 000 50,000 45,000 ! 11,250 | 38,230 ! 9,310 ! 6, 770 1,940 i May 23, 1891 j Mav 25, 1891 j 100,000 50,000 22,500 ! 11,250 19.090 I 8,710 | J u n e 23,1891 ! 150, 000 33, 750 25, 790 i 11,250 61,638 43,400 7,710 ! | 53,254 ! 35,240 | 3,540 8, 384 8,160 88,090 10, 750 64,900 | 8,350 , 23,190 2,400 11, 250 11,250 11, 250 14, 050 11,250 61,135 7,950 8,440 9,205 9,420 8,260 44, 991 2, 9;>0 16, 144 45,000 13,500 11,700 45,000 38, 650 9,140 9,890 35,413 6, 350 4,360 1,810 9, 587 45,000 i 14, S10 j 11, 250 29, 200 9, 768 7, 750 15,800 5,048 3, 500 65,480 j 40, 200 15, 483 14, 005 25, 280 7,017 8, 495 Twin City National Bank, New Brigh50, 000 ton, Minn Merchants' National Bank, Bingham 100,000 J u n e 25, 1891 i ton, N. Y 200,000 J u n e 30, 1891 ! First National Bank, Merced, Cal National Bank of Union County, Mor100. 000 ....do .. gantield, Ky 50,000 Citizens' National Bank, Belt on, Tex J u l y 1, 1891 Citizens' National Bank, Gatesville, 50, 000 .do . Tex 50, 000 Aug. 22, 1891 Ord National Bank, Ord, Nebr 1 50, 000 Firtt National Bank, Indianola, Nebr... Aug. 31, 1891 50, 0'Ou Sept. 1, 1891 National Bank, Anderson, S. C 50, 000 Sept. 21,1891 First National Bank, Flushing, Mich 100, 000 First ~TationalBank, Francestown, N. H.! Oct. 10, 1891 Columbus National Bank, New York, 200, 000 N. Y Oct. 15, 1891 GO, 000 Citizens' National Bank, Colorado, Tex.. Nov. 3, 1891 50, 000 First National Bank, La Grange, Ga Dec. 1, 1891 300, 000 Produ eNationalBank, Philadelphia, Pa. Dee. 8, 1891 Merchants' National Bank, Kansas City, 1, 000, 000 Mo Dec. 22, 1891 50, 000 First National Bank, Manitowoe, Wis... Dec. 20, 1*91 50, 000 First National Bank, Fairiield, Tex . . . . . Dec. 28, 1891 Commonwealth National Bank, Phila208,000 delphia, Pa Dec 31,1891 Merchants' National Bank, Fort Dodge, 100,000 do Iowa 100, 000 Jan, 12, Giles National Bank, Puluski, Tenn 50,000 do First National Bank, Quana'h, Tex Northwestern National Bank, Aberdeen, 100,000 Jan. 15, 1892 S.Dak 50,000 Castleton National Bank, Castleton, Vt.. Jan. 22, 1892 | First National Bank, Chamberlain, S. 50, 000 Feb. 6, 1892 I Dak 50,000 Feb. 9; 1892 j Sedan National Bank, Sedan, Kans Brouson National Bank, Painted Post, ; 50,000 Feb. 29, 1892 N.Y 50,000 First National Bank, Ainsworth, Nebr.. Mar. 3, 1892 50,000 1892 Mar. 4, First National Bank, Leoti, Kans 50,000 Mar. 9, 1892 First National Bank, Blaine, Wash Eratli County National Bank, Stephen50,000 Mar. 15,1892 ville, Tex American National Bank, Birmingham, 250,000 Mar. 22,:1892 Ala 50, 000 ilo . First National Bank, Wilber, Nebr 50,000 First National Bank, Greenville, Mich.. M a r . 28, 1892 National Exchange Bank, Columbus, 100,000 Apr. 1, 1892 OMo 100,000 Citizens' National Bank, Koanoke, Va... Apr. 4, 1892 Inter-State National Bank,New York, : 200,000 Apr. 15, 1892 N. Y 50,000 Apr. 25, 1892 , First National Bank, Platte City, Mo 50,000 Apr. 30, 1892 s First National Bank, Jetmore, Kans 50,000 May 2, 1892 ; Tampa National Bank, Tampa, Fla Birmingham National Bank, Birming250, 000 ! do .. ham, Ala 50,000( June 15, 1892 First National Bank, Stafford, Kans National Bank of Commerce, Hutchin100,000 do son, Kans June 21, 1892 ; 100,000 First National Bank, Grafton, Mass 50,000 First National Bank, Dorchester, Nebr.. July 5, 1892' Retired. I 22, 500 22, 500 11, 250 3, 410 2,540 7, 960 3,300 2, 810 2,045 4, 6'JO 7,220 4, 030 22,500 14, 630 17.640 9,330 4, 860 5, 300 11.250 11, 250 7,960 8,430 3. 290 2, 820 22, 500 11,250 10, 250 11, 250 16, 450 7,380 8,480 8,850 I 7,450 | 6, 050 3, 870 1.770 2,400 3, 800 11, 250 32,220 j 45, 000 13, 000 11, 250 50, 670 21, 700 45, 11, 11, 11, 000 250 250 250 9,050 I 7,799 ! 31,305 j 12, 780 3.950 3,451 19,365 5, 487 16,213 34, 200 10, 800 3, 480 7, 770 < 8,100 j • 3,150 3, 430 7,820 j i 45, 000 11, 250 30,900 | 8,005 22, 500 25,102 11,250 13,200 16, 864 j 7,620 I 14,100 3,245 9,300 8,238 3, 630 256 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont;d. Name and location of bank. First National Bank, Salina, Kans Lincoln National Bank, Lincoln, Nebr... First National Bank, Aurora, Mo 'Fanners and Traders' National Bank, Os kaloosa, Iowa First National Bank, San Luis Obispo. Circulation. Date of liquidation. July 5. 1892 July 12, 1892 July 22, 1892 e tired. ing. $33, 750 22,500 11,250 $19, 850 16, 255 7,400 $13. 900 6,245 3,850 July 30,1892 100,000 22, 500 13,280 9,220 Aug. 27, 1892 First National Bank, De Sniet, S. Dak ... Sept, 14,1892 150, 000 50,000 33, 750 11,250 21, 230 7,450 12, 520 3,800 45,000 24, 870 20,130 45, 000 27, 740 17, 260 10, 250 6,040 4,210 44, 500 20,970 6,610 23, 530 4,140 c i ; Merchants' National Bank, Chattanooga, Tenn 250,000 Sept. 24,: 1892 National Bank of the Republic, Tacoma, 200, 000 Wash Oct. 1, 1892 First National Bank, South Sioux City, 50, 000 Nebr Oct. 27,1892 Continental National Bank, Kansas 200, 000 Nov. 11, 1892 City, Mo First' National Bank, Clyde, Kans 50,000 Nov. 15, 1892 Eugene National Bank, Eugene City, 50, 000 Oreg T Nov. 26,1892 Commercial National Bank, Sioux City, Iowa 150, 000 Dec. 1, 1892 First National Bank, Batesville, Ohio... ....do . 60, 000 State National Bank, Lincoln, Nebr 200, 000 Dec. 3,:1892 Woodson National Bank, Yates Center, Kans 50,000 Dec. 5, 1892 First National Bank, Pontiac, Mich 100,000 Dec. 31, 1892 First National Bank, Castle, Mont Jan. 4, 1893 65, 000 National Pemberton Bank, Lawrence, I Mass I Jan. 10,1893 ! 150, 000 75,000 First National Bank, Lorain, Ohio '....do.. Covington City National Bank, Covington, Ky 500,000 , Feb. 1, 1893 100, 000 Merchants' National Bank, Macon, Ga . I Feb. 14,1893 250,000 iEtna National Bank, Kansas City, Mo. I Mar. 9,1893 100, 000 Citizens' National Bank, Orlando' Fla.. | Mar. 22, 1893 ! Apr. 1, 1893 50,000 First National Bank, Lexington, 111 I May 1, 1893 150,000 First National Bank, Ida Grove, Iowa.. May 22, 1893 75,000 First National Bank, Burnet, Tex Southern National Bank, New Orleans, 500,000 June 5, 1893 La 50,000 First National Bank, Santa Monica, Cal. June 17, 1893 Finney County National Bank, Garden 50. 000 June 20, 1893 City, Kans 50, 000 June 29, 1893 Lako'National Bank,Wolfboro,N.H 50,000 First National Bank, Wa Keeney, Kans. June 30. 1893 50, 000 July G. 1893 First National Bank, Springfield, Mo Farmers and Merchants'National Bank, 50, 000 July 11, 1893 Rookwall, Tex North Texas National Bank, Dallas,Tex. July 13, 1893 1, 000, 000 lioquiam National Bank, Hoquiam, July 18, 1893 50,000 Wash 250, COO Gate City National Bank, Atlanta, Ga .. July 25, 1893 50, 000 First National Bank, Big Timber. Mont. July 27, 1893 July 29, 1893 50, oi;o Orono National Bank, Orono, Me Aug. 3, 1893 Central National Bank, Dallas, Tex 150,000 Fourth National Bank, Chattanooga, A u g . 10,1893 Tenn 150, 000 Merchants' National Bank, Fort Worth, Aug. 15, 1893 Tex 250.000 Gallatin Valley National Bank, BozeAug. 18, 1893 man, Mont 100,000 Farmers' National Bank, Constantino, Sept. 4, 1893 50, 000 Mich 60, 000 First National Bank, Mankato, Kans ... Sept, 19,1893 50, 000 Sept. 20,1893 Dillon National Bank, Dillon, Mont Gray National Bank, Middletown .do 50, 000 Springs, Vt 100, 000 Frankfort National Bank,Frankfort, Ky. Sept. 21,1893 1893 75, 000 Sept. 30, Second National Bank, Helena, Mont 50,000 First National Bank, Minneapolis, Kans. Oct. 9, 1893 1893 50, 000 Oct. 14, First National Bank, Wharton, Tex Farmers and Merchants' National Bank, 1893 Oct. 19, 100,000 Clarksville, Tenn 50, 000 First National Bank, Slaughter, Wash... Oct. 25,1893 Nov. 6, 1893 100, 000 York National Bank, York, Nebr Nov. 13, 1893 50, 000 First National Bank, Genesee, Idaho 50,000 First National Bank, Centerville, Mich.. Nov. 25, 1893 10, 750 7,120 4,130 20, 250 7,150 29,205 13, 500 6,350 15, 795 5,440 11, 080 7,520 5,310 10, 670 6,500 11, 250 33, 750 13, 500 45,000 10, 750 21,750 14, 020 143, 010 16, 095 225, 000 21, 800 44, 550 21, 880 16,410 32, 650 16,150 90,610 7,340 52, 400 8,755 105, 312 12, 570 21, 000 11, 660 8,040 14, 770 6,550 119, 688 9,230 23,550 10, 220 8.370 17,880 9,600 45, 000 10, 250 19, 200 5,180 25, 800 5,070 10, 750 29, 360 10, 290 11, 250 5,340 14, 328 4,520 4,112 5,410 15,032 5,770 7,138 11, 250 45. 000 4,690 17,330 6,560 27, 670 11,250 44, 000 10, 750 13, 720 33, 750 5,250 21, 540 4,740 6,490 11, 750 6,000 22, 460 6, 010 7,230 22, 000 44,200 18, 540 25, 660 45, 000 20,350 24, 650 22, 000 9,610 12, 390 11, 250 13, 500 10, 750 4,440 5,810 4,960 6,810 7,690 5,790 11, 250 22, 500 17, 420 11,250 11,250 5,370 9,150 7, 720 6, 383 4,550 5,880 13,350 9i 700 4,867 6,700 22,100 11,250 21, 847 11,250 10, 650 5,480 4, 650 9,660 3, 870 3,815 16, 620 6,600 12,187 7,380 6,835 EEPORT OF THE COMPTROLLER OF THE CURRENCY. 257 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PRO- VISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES, ETC.—Cont'd. Circulation. Name and location of bank. Date of liquidation. Randolph National Bank, Randolph, Mass Nov. 27,1893 First National Bank, Caldwell, Kans Dec. 2, 1893 First National Bank, Princeton, Minn... Dec. 18,1893 First National Bank, Luling, Tex Dec. 23,1893 National Bank, Sioux City, Iowa Dec. 29,1893 State National Bank, Jefferson, Tex Dec. 30,1893 First National Bank, Rushville, Nebr . . . Jan. 1,1894 First National B^ank, Fredonia, Kans Jan. 2,1894 National Bank ot Commerce, Provo City, Utah Jan. 4,1894 Citizens' National Bank, Whitewater, Jan. 9,1894 Wis Farmers and Merchants' National Bank, Jan. 10,1894 Union City, Tenn Jan. 30,1894 First National Bank, Geneva, Nebr First National Bank, Centralia, Wash... Feb. 1,1894 Feb. 3.1894 First National Bank, Opelousas, La Feb.-10,1894 State National Bank, Dallas, Tex Feb. 15,1894 First National Bank, Kinsley, Kans American National Bank, Salt Lake City, Utah Feb. 24.1894 First National Bank, Clinton, Mo Feb. 28,1894 First National Bank, Medicine Lodge, Mar. 1,1894 Kans Globe National Bank, Kalispell, Mont. .. Mar. 2,1894 Mar. 12,1894 First National Bank, De Witt, Nebr First National Bank, Harrisonville, Mo.. Mar. 17,1894 Union National Bank, Salt Lake City, Mar. 23,1894 Utah Apr. 9,1894 Aspen National Bank, Aspen, Colo Apr. 10,1894 First National Bank, Fairtield, Nebr Apr. 11,1894 Sagadahoc National Bank, Bath, Me Merchants and Manufacturers'National Apr. 14,1894 Bank, Detroit, Mich Apr. 28,1894 First National Bank, Jersey ville, 111 American National Bank, Salina, Kans.. Apr. 30,1894 First National Bank, Denison, Tex do First National Bank, Boulder, Mont M a y 1,1894 First National Bank, Hopkins, Mo ....do First National Bank, Mystic Bridge, Conn May 21,1894 First National Bank, Kendallville, Ind.. May 24,1894 First National Bank, Columbus, Miss . . . May 30,1894 Deadwood National Bank. Deadwood, S. June 7,1894 Dak Merchants' National Bank, Deadwood, J u n e 8,1894 S.Dak J u n e 11,1894 First National Bank, Neihart, Mont | J u n e 16,1894 First National Bank, Sterling, Nebr Gate City National Bank, Texarkana, ' J u n e 30,1894 Ark../. Garden City National Bank, San Jose, July 1,1894 Cal First National Bank, Constantine, Mich. ----do Socorro National Bank, Socorro, N. Mex. July 16,1894 First National Bank, Dodge City, Kans.. July 27,1894 State National Bank, Denver, Colo I July 28,1894 Washington National Bank, Spokane July 30,1894 Falls, Wash Bates County NationalBank, Butler, Mo. Aug. 1,1894 First National Bank, Montesano, Wash . Aug. 20,1894 First National Bank, Fort Pierre, S. Dak. Aug. 28,1894 Farmers and Merchants' NationalBank, Aug. 29,1894 Auburn, Nebr Kansas National Bank, Topeka, Kans... Sept. 1,1894 do First National Bank, Ireton, Iowa Sept, 10,1894 First National Bank, Bessemer, Ala Sept. 12,1894 First National Bank, Lincoln, Kans Cottonwood Valley National Bank, Mar....do ion, Kans. Sept. 15,1894 First National Rank, Oswego, Kans Oct. 10,1894 First National Bank, Gibbon, Nebr 8182 OUR- Issued. $200, 000 50,000 50, 000 50, 000 900, 000 50, 000 50, 000 50,000 $172,050 10,250 10, 870 11,250 43,950 9,050 10, 750 10, 750 Retired. Outstanding. $62,555 2,110 4,130 2,700 9,250 710 3,090 3,090 $109,495 8,140 6,740 8,550 34,700 8,340 7,660 7,660 50, 000 10, 400 3,260 7,140 75, 000 15,195 4,790 10, 405 100, 000 50, 000 50,000 50, 000 400, 000 50, 000 22, 350 10, 800 11,700 10, 850 43, 800 11,250 5,050 2,710 4,850 2,470 10, 950 3,020 17,300 8,090 6,850 8,380 32, 850 8,230 250, 000 100,000 43, 590 21, 450 16, 760 5,961 26, 830 15,489 50, 000 50,000 50, 000 50, 000 11, 250 10, 930 10,750 10, 850 4,370 4,470 3, 200 2,020 6,460 7,550 8,830 400, 000 100, 000 50, 000 100, 000 7,800 4,115 3,270 5,810 36,150 17, 765 7,480 38,115 500, 000 50,000 100,000 150, 000 50, 000 50, 000 43, 950 21, 880 10, 750 43, 925 34, 310 10,850 21, 550 43,050 11, 250 10, 750 6,768 2,630 3,110 5,481 1,750 1,460 27, 542 8,220 18,440 37, 569 9, 500 9, 290 150, 000 50, 000 75, 000 33,010 44,300 66, 600 51 5,300 19, 000 32, 959 39,000 47, 600 100,000 21, 500 5,250 16, 250 100, 000 50, 000 50,000 22, 500 10, 790 10, 750 3,370 170 1,670 19,130 10, 620 50, 000 9,390 1,010 8,380 100, 000 50, 000 50, 000 50, 000 300. 000 21,900 12, 780 11,250 11, 250 44, 000 10, 740 1,120 1,290 3,870 11,160 11, 660 11,250 9,960 40,130 250, 000 125, 000 50, 000 50,000 45, 000 36, 541 11, 250 11, 250 2,730 1,231 810 630 42, 270 35, 310 10,440 10, 620 50, 000 300, 000 50, 000 50,000 50,000 10, 750 43,800 11,350 11,250 10,750 2,000 800 430 400 510 9,750 43, 000 10, 920 10, 850 10, 240 50,000 60, 000 50, 000 11, 250 16,440 11, 250 1,500 3,980 9,750 12. 460 11,250 93, 723, 010 45, 575, 002 42, 040, 537 j 3, 534,465 Total. Capital. -17 258 REPORT OF THE COMPTROLLER OF THE CURRENCY NATIONAL BANKS IN LIQUIDATION UNDER SECTION 7, ACT J U L Y 12, 1882, WITH DATE OF EXPIRATION OF CHARTER, CIRCULATION ISSUED, RETIRED, AND OUT- STANDING, SUCCEEDED BY ASSOCIATIONS WITH THE SAME OR DIFFERENT TITLE, OCTOBEH 31, 1894. Circulation. Date of liquidation. Xamo and location of bank. Capital. Issued. • Retired. Outstand ing. $200, 030 First National Bank, Kittanning, Pa July 2,1882 National Bank of Beaver County, New 200, OOi) Brighton, Pa Nov. 12,1884 50, 000 National Bank, Beaver Dam, Wis Dec. 24,1884 Merchants' National Bank, Cleveland, 800, 000 Ohio Dec. 27,1884 Union National Bank, Chicago, 111 Dec. 29,1884 1, 000, 000 150, 000 First National Bank, Le Hoy, N. Y Jan. 2,1885 Evansville National Bank, Evansville, 800, 000 Jan. 3,1885 Ind National Albany Exchange Bank, Al300, 000 bany, N.Y Jan. 10,1885 100, 000 National Bank, Galena, 111 Jan. 11,1885 300,000 National State Bank, Lafayette, Ind Jan. 16,1885 60, 000 First National Bank, KnoxAalle, 111 ....do 100, 000 Farmers' National Bank, Ripley, Ohio. -. Jan. 17,1885 City NationaLBank, Grand Rapids, Mich. Jan. 21,1885 * 300,000 100, 000 Lee County N ational Bank, Dixon, 111... ....do Fort Wayne National Bank, Fort Wayne, 350r 000 Jan. 25,1885 Jnd 125, 000 National Exchange Bank, Tiffin, Ohio ... Mar. 1,1885 200,000 National Bank, Malone, N. Y Mar. 9,1885 Jefferson National Bank, Steubenville, 150, 000 Mar. 21,1885 Ohio 100, 000 First National Bank, Battle Creek, Mich. Mar. 28,1885 200, 000 '....do Central National Bank, Danville, Ky Knox County National Bank, Mount 75, 000 Vernon, Ohio Apr. 1,1885 100,000 First National Bank, Houghton, Mich... Apr. 18,1885 100, 000 Apr. 22,1885 National Bank, Fort Edward, N.Y 100,000 May 4,1885 National Bank, Salem, N. Y National Exchange Bank, Seneca Falls, 100, 000 May 6,1885 N.Y 150, 000 Trumbull National Bank, Warren, Ohio. J u l y 5,1885 Attleboro National Bank, North Attle100, 000 July 17,1885 boro, Mass 400, 000 American National Bank, Detroit, Mich. July 24,1885 125, 000 Aug. 12,1885 First National Bank, Paris, 111 50, 000 Aug. 14,1885 First National Bank, St. Johns, Mich 100, 000 Sept. 1.1885 Second National Bank, Pontiae, Mich ... 400, 000 Raleigh National Bank, Raleigh, N. C ... Sept, 5i 1885 150, 000 Sept, 22,1885 First National Bank, Danville, Ky 400, 000 Jan. 1,1889 Ohio National Bank, Cleveland, Ohio 100, 000 Apr. 7,1889 National Bank, Lebanon, Ky Monmouth National Bank, Monmouth, $199, 500 $192,895 $6, 605 97,300 41,100 91, 898 39,190 5,402 1,910 228,100 62, 800 135,000 208,413 50,185 126,318 10, 687 12, 615 8,682 Aug. 18,1890 111. Muskegon National Bank, Muskcgon, Mich . . . . . . Aug. 27,1890 Oct. 3,1890 First National Bank, Richmond, Ky First National Bank, Port Huron, Mich . Oct. 15,1890 Jan. 23,1891 Union National Bank, Oshkosh, Wis First N ational Bank, Grand Haven, Mich. J u n e 5,1891 First National Bank, Plymouth, Mich... Nov. 14,1891 Nov. 29,1891 National Bank, Wooster, Ohio Defiance National Bank, Defiance, Ohio . Dec. 7,1891 First National Bank, New London, Ohio Mar. 23,1892 Citizens' National Bank, Mankato, Minn. Apr. 27,1892 Third National Bank, Sandusky, Ohio... Sept. 19,1892 Oct. 15,1892 Third National Bank, Urbana, Ohio Lumberman's National Bank, MuskeJan. 16,1893 gon, Mich Pno?nix National Bank, Medina, Ohio... I Feb. 10,1893 j J u n e 10,1893 F i r s t National JSank, Chelsea, Vt Farmers' National Bank, Owatonna, • J u n e 30,1893 Minn f Second National Bank, Bay City, Mich.. May 5,1894 F i r s t National Bank, Farmer City, 111.. ! May 30.1894 July 22,1894 First National Bank, Kasson, Minn ! J u l y 30,1894 First National Bank, Lagrange, Ind Aug. 1,1894 First National Bank, Fairfield, Me Total ". ! ! 543, 050 500, 705 42, 345 243, 900 55,900 117, 000 43, 600 87, 400 45, 000 41, 500 232,200 51, 784 104, 270 41, 239 81, 751 41,178 38, 394 11, 703 4,116 12, 724 2,361 5,649 3,822 3,106 257,300 50, 500 65,900 243,126 44, 642 59, 568 14,174 5.858 6,332 132,600 89, 200 180, 000 125,927 84, 285 6,673 4,915 10, 601 53,200 45, 000 88, 900 86,100 49,082 40, 219 82, 941 81, 548 4,118 4,781 5,959 4,552 88, 400 132, 400 84, 579 125, 945 3,821 6,455 84, 300 251, 500 111, 500 21, 000 43,000 123,900 130, 500 57, 763 45, 000 80, 064 238, 715 104, 307 19, 335 40,149 111, 374 121, 725 47,705 40, 214 4,236 12, 785 7,193 1,665 2, 851 12, 526 8,775 10, 058 4,786 100,000 21, 800 16, 021 5, 779 100,000 250, 000 135,000 200,000 200, 000 50, 000 53, 900 100, 000 50, 000 70, 000 200, 000 100, 000 21, 720 66,979 57, 480 45, 000 45, 000 45, 000 48, 510 22, 500 11,250 15, 750 45, 000 22, 500 18,155 50, 066 46, 214 35, 600 34, 278 34, 386 31, 703 14, 793 8,020 10, 880 25, 735 11,903 3,565 16, 913 11, 266 9,400 10, 722 10, 614 16, 807 7,707 3,230 4,870 19, 265 10, 597 100,000 75, 000 50, 000 22. 500 17,100 11, 250 12,820 9,078 I 3,911 9,680 8,022 7,339 75, 000 250, 000 50, 000 50, 000 *>5, 000 50, GOO 17,100 180, 000 10, 810 11,460 22, 500 12, 900 8,703 34,610 1,900 1,405 1,550 1,250 8,397 145, 390 8,910 10, 055 20, 950 11, 650 10, 408, 900 4, 853, 222 4, 208, 256 644, 966 REPORT OF THE COMPTROLLER OF THE CURRENCY. 259 NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES OF THE UNITED STATES, FOR THE PURPOSE OF ORGANIZING NEW ASSOCIATIONS WITH THE SAME OR DIFFERENT TITLE, WITH DATE OF LIQUIDATION, AMOUNT OF CAPITAL, CIRCULATION ISSUED, RETIRED, AND OUTSTANDING ON OCTOBER 31, 1894. Circulation. Name and location of bank. Date of liquidation. First National Bank, Pvondout, N. Y I Oct. 30,1880 First National Bank, Huntingdon, Ind .. | Jan. 31,1881 First National Bank, Indianapolis, Ind.. | July 5,1881 First National Bank, Valparaiso, Ind \ Apr. 24,1882 First National Bank, Stillwater, Minn .. j Apr. 29,1882 First National Bank, Chicago, 111 ' do Apr. 30,1882 First National Bank, Woodstock, 111 Apr. 28,1882 Second National National Bank, Bank, New Cincinnati, Ohio. Second York, N. Y do First National Bank, Portsmouth, N. H . Apr. 29,1882 First National Bank, Richmond, Ind I May 5,1882 Second National Bank, Cleveland, Ohio . May G,1882 do First National Bank, New Haven, Conn. May 2,1882 First National Bank, Akron, Ohio First National Bank, Worcester, Mass .. May 4,1882 May 9,1882 First National Bank, Barre, Mass First National Bank, Davenport, Iowa .. First National Bank, Kendallville, Ind.. May 12,1882 First National Bank, Cleveland, Ohio . . . May 13,1882 First National Bank, Youngstown,Ohio. May 15,1882 do First National Bank, Evans ville, Ind First National Bank, Salem, Ohio ....do First National Bank, Scranton, Pa May 18,1882 I First National Bank, Centerville, Ind do I First National Bank, Fort Wayne, Ind.. | May 22,1882 i First National Bank, Strasburg, Pa ! do I First National Bank, Marietta, Pa I May 27,1882 I First National Bank, Lafayette, Ind May 31,1882 First National Bank, McConnelsville, Ohio do First National Bank, Milwaukee, Wis do Second National Bank, Akron, Ohio do First National Bank, Ann Arbor, Mich.. June 1,1882 First National Bank, Geneva, Ohio ....do First National Bank, Oberlin, Ohio ....do First National Bank, Philadelphia, Pa... June 10,1882 do First National Bank, Troy, Ohio Third National Bank, Cincinnati, Ohio.. June 14,188a First National Bank, Cambridge City, Ind June 15,1882 First National Bank, Lyons, Iowa: ....do June 17,1882 First National Bank, Detroit, Mich First National Bank, Wilkesbarre, Pa . . . June 20,1882 First National Bank, Iowa City, Iowa... June 21,1882 First National Bank, Nashua, N. H .do. First National Bank, Johnstown, Pa .do. First National Bank, Pittsburg, Pa June 29,1882 First National Bank, Terre Haute, Ind.. ....do First National Bank, Hollidaysburg, Pa. June 30,1882 First National Bank, Bath, Me T ....do First National Bank, Janesville, Wis ....do FirstNationalBank, Michigan City, Ind. ....do First National Bank, Monmouth, 111 July 3,1882 First National Bank, Marion, Iowa July 11,1882 First National Bank, Marlboro, Mass . . . Aug. 3,1882 National Bank of Stanford, Ky Oct. 3,1882 First National Bank, Sandusky, Ohio Oct. 6,1882 First National Bank, Sandy Hill, N. Y... Dec. 31,1882 First National Bank, Lawrenceburg, Ind Feb. 24,1883 First National Bank, Cambridge, Ohio .. ....do First National Bank, Oshkosh, Wis ....do FirstNational Bank, GrandRapids, Mich ....do First National Bank, Delphos, Ohio ....do First National Bank, Freeport, 111 ....do First National Bank, Elyria, Ohio ....do Firac National Bank, Troy, N. Y ....do Second National Bank, Detroit, Mich ....do Second National Bank, Peoria, 111 ....do National Fort Plain Bank, Fort Plain, NY ....do Logansport National Bank, Logansport, Ind Dec. 1,1883 May 14,1884 National Bank of Birmingham, Ala June 1,1884 First National Bank,Independence, Westfield, N. YIowa' Oct. 31,1884 FirstNationalBank, C liBLi 0.1 illJlUllcll iJrtlllV, m^icHltUJLl, I I I Capital. Issued. Retired. Outstanding. $300,000 100,000 300,000 50, 000 130, 000 1, 000, 000 50, 000 200, 000 300, 000 300, 000 200, 000 1, 000, 000 500, 000 100, 000 300, 000 150, 000 100, 000 150, 000 300, 000 500, 000 500, 000 50, 000 200, 000 50, 000 300, 000 100,000 100, 000 150, 000 $270,000 90, 000 279, 248 45, 000 83, 45G 90, 000 45, 000 180, 000 376, 890 286, 000 87, 400 510, 800 355, 310 114, 822 252, 000 135, 000 45, 000 90,000 266, 462 441,529 442, 870 110, 540 45, 000 64,525 45, 000 79, 200 99,000 175, 060 $260, 484 87,170 264, 409 43, 356 81,186 82, 683 43, 405 173, 370 36C, 555 276, 761 81, 949 492,485 346, 200 109, 282 245, 399 130, 506 42, 247 87,185 255,358 431, 246 426,955 106, 940 41,155 61, 724 40,177 76, 592 95, 730 166, 273 $9, 516 2,824 14,839 1,644 2,270 7,317 1,595 6,630 10, 335 9,239 5, 451 18,315 9,110 5,540 6,601 4,494 2,753 2,815 11,104 10 283 15, 915 3,600 3,845 2,801 4,823 2, 608 3,270 8,787 50, 000 200,000 100, 000 100, 000 100, 000 50, 000 1,000,000 200,000 800, 000 50,000 100, 000 500,000 375, 000 100, 000 100, 000 60, 000 750, 000 200, 000 50, 000 200, 000 125, 000 100, 000 75, 000 50, 000 200, 000 150, 000 150, 000 50, 000 100, 000 100,000 100, 000 400, 000 50, 000 100, 000 100, 000 300, 000 1, 000, 000 100,000 84, 640 229,170 102, 706 85,078 90,000 58,382 799,800 180,000 609,500 45, 000 90, 000 336, 345 337, 500 88, 400 90, 000 54, 000 594, 000 141, 575 45, 000 180, 000 121, 050 45. 000 45, 000 45,000 180,000 135, 000 90, 000 45,000 90, 000 80. 800 47, 800 155, 900 45, 000 53, 500 90, 000 229, 550 363, 700 90,000 81, 369 221,822 99, 258 81,420 86,440 55, 335 764, 705 174, 282 588,200 42, 554 86, 364 328, 348 325, 520 86, 020 85, 696 52,130 579, 045 134, 223 43, 675 173, 454 117,290 44, 013 43, 489 43,146 174,567 131,292 86,092 42,944 86, 625 78, 063 46, 035 150, 900 42,105 51,258 86, 871 221,145 346,191 84, 673 3, 271 7, 348 3,448 3,658 3,560 3,047 35, 095 5,718 ' 21, 300 2,446 3,636 7,997 200, 000 174, 300 168, 616 5,684 100, 000 50, 000 50, 000 100, 000 16,850 45,000 42, 800 90,000 15, 330 43, 629 40, 265 86,405 1,520 1,371 2,535 3,595 11, 980 2,380 4,304 1,870 14, 955 7,352 1,325 6,546 3,760 987 1,511 1,854 5,433 3,708 3,908 2,056 3,375 2,737 1,765 5,000 2,895 2,242 3,129 8,405 17, 509 5,327 260 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE GONE INTO VOLUNTARY LIQUIDATION UNDER THE PROVISIONS OF SECTIONS 5220 AND 5221 OF THE REVISED STATUTES OF THE UNITED STATES, FOR THE PURPOSE OF ORGANIZING NEW ASSOCIATIONS WITH THE SAME OR DIFFERENT TLTLE, WITH DATE OF LIQUIDATION, AMOUNT OF CAPITAL, CIRCULATION ISSUED, RETIRED, AND OUTSTANDING ON OCTOBER 31, 1894—Cont'd. Circulation. Name and location of bank. Bate of liquidation. First National Bank, Sturgis, Mich Dec. 31,1884 National Bank, Itutiand, Vt Jan. 13,1885 Kent National Bank, Chestertown, Md.. Feb. 12,1885 National Fulton County Bank, Gloversville,N.Y Feb. 20,1885 Feb. 25,1885 First National Bank, Ceutrulia, 111 National Exchange Bank, Albion, Mich. Feb. 28,1885 Mar. 31,1885 First National Bank, Paris, Mo J u n e 20,1885 First National Bank, Yakima, Wash J u n e 30,1885 First National Bank, Flint, Mich Farmers' National Bank, Stanford, Ivy.. Dec. 31,1888 Adams National Bank, Adams, N. Y . . . . July 10,1889 Jan. 14,1890 Poland National Bank, Poland, N. Y Sandy River National Bank, Farmington, Me Nov. 1,1890 July 13,1891 Second National Bank, Aurora, 111 Indiana National Bank, Lafayette, Ind.. Nov. 30,1891 May 31,1893 Decatur National Bank, Decatur, 111 Grundy County National Bank, TrenDec. 23,1893 ton, Mo Dec. 31,1893 First National Bank, Trenton, Mo Jan. 9,1894 First National Bank, Colorado, Tex Saxton National Bank, St. Joseph, Mo .. Feb. 1,1894 Schuster-Hax National Bank, St. Joseph, ....do Mo Second National Bank, Louisville, Ky... June 2,1894 Fourth National Bank, Louisville, Ky .. ....do.. . Kentucky National Bank, Louisville, *Ky ....do Merchants' National Bank, Louisville, Ky ....do Total Capital. Issued. Retired. Outstanding. $41,589 224,457 ! 16, 910 ! 150,000 80, 000 75, 000 100,000 50,000 200, 000 200, 000 50, 000 50,000 $43,850 ! 238,700 j 18,200 ! I 135, 000 i 70,600 30,600 89,155 14,650 122, 500 45, 000 12, 240 13, 500 75, 000 100,000 100.000 100, 000 58, 260 22, 500 90, 000 22,500 I 46, 397 15,6o5 57, 906 10, 674 50,000 50,000 100, 000 400, 000 11,250 ! 11,250 22,000 67,875 5,080 4,700 5,590 14, 000 500, 000 300, 000 300,000 500, 000 500, 000 42, 870 61,172 42, 450 43, 500 43, 650 11,560 6,700 3,600 3, 708 6, 100 | $50, 000 500, 000 50,000 20, 945, 000 128,841 66, 650 28, 908 84, 898 14, 090 114,913 36, 625 10, 750 11, 770 13, 040, 730 12,209,663 I 831,067 REPORT OF THE COMPTROLLER OF THE CURRENCY. 261 NATIONAL BANKS IN LIQUIDATION UNDER SECTION 7, ACT JULY 12, 1882, WITH DATE OF EXPIRATION OF CHARTER, CIRCULATION ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1894. Circulation. Date of liquidation. Name and location of bank. First National Bank, Pontiac, Mich First National Bank, Washington, Iowa. First National Bank, Fremont, Ohio Second National Bank, Dayton, Ohio First National Bank, Girard, Pa First National Bank, Xenia, Ohio First National Bank, Peru, 111 First National Bank, Elmira, N. Y First National Bank, Chittenango, N.Y.. First National Bank, Eaton, Ohio First National Bank, Leominster, Mass.. First National Bank, . . Winona,, Minn Dec. 31,1881 Apr. 11,1882 May 22,1882 May 26, 1882 J u n e 1,1882 F e b . 24,1883 ....do ....do ....do .. J u l y 4,, 1884 J u l y„ 5,, 1884 J u l y 21,1884 American National Bank, Hallowell, Me. Sept. 10,1884 — ~ Oct. 28,1884 First National Bank, Attica, 'Ind' Citizens' National Bank, Indianapolis, Ind First National Bank, North East, Pa... First National Bank, Galva, 111 First National Bank, Thorntown, Ind... Muncie National Bank, Muncie, Ind Merchants' National Bank, Evansville, Ind Say brook National Bank, Essex, Conn... Union National Bank, Albany, N. Y Battenkill National Bank, Manchester, Yt Outstanding. $85,906 86,014 86,528 254,049 87,125 104,135 42,179 86, 720 130,945 41,725 236, 625 42, 361 64, 830 47, 964 $2, 984 2,551 3,472 8,892 2,875 3,865 2,821 3,280 4,055 2,575 7,775 1,839 2,670 2,436 11, 1884 23, 1884 2, 1885 13, 1885 28, 1885 300, 000 50, 000 50, 000 50, 000 200,000 87, 800 24,550 36, 000 43, 740 161,000 77,192 22, 749 33, 766 40,730 152, 433 10, 608 1,801 2,234 3,010 8,567 Feb. 6, 1885 Feb. 20, 1885 Mar. 7, 1885 250, 000 300,000 250, 000 90,800 61, 200 144,400 82, 418 58,455 136, 580 8,382 2,745 7,820 Mar. 21,18$5 A p r . 14,1885 75, 60, 100, 150, 000 000 000 000 57, 700 47, 700 89, 000 45,000 54,719 44, 925 84, 903 41, 045 2,981 2,7 n 5 4,097 3,955 100, 000 550, 000 60, 000 50,000 44,100 90, 000 54, 000 24,550 41, 015 80, 942 51,424 22, 555 3,085 9,058 2,576 1,995 100, 000 22,500 18, 934 3,566 500,000 50, 000 50, 000 60, 000 250, 000 45,000 11,250 13,500 24, 950 98,030 40, 451 8,636 10, 815 20, 6o3 82,128 4,549 2,614 2,685 4,297 15, 902 100, 100, 50, 185, 22, 500 33, 250 10,750 36, 700 16, 030 25, 205 7,232 23, 640 6,470 8,045 3,518 13, 060 Farmers and Merchants'National Bank Yandalia, 111 Jan. National Bank, Chester, S. C. j Mar. F i r s t National Bank, Burlington, W i s . . . Dec. Lansing National Bank, Lansing, Mich. Mar. A s h t a b u l a . National Bank, Ashtabula, Ohio July Second National Bank of New Mexico, July Santa F e ,, N. Mex F i r s t National Bank, Petaluma, Cal | Sept. i Btired. $88, 890 88, 565 90, 000 2,62, 941 90,000 108,000 45, 000 90, 000 135, 000 44, 300 244,400 44, 200 67, 500 50,400 Coventry National Bank, Anthony, K. I. A p r . "17,31885 State National Bank, Keokuk, Iowa May 23,]1885 Tolland County National Bank, Tolland, Conn ' June 6, 1885 City National Bank, Hartford, Conn June 9, 1885 West River National Bank, Jamaica, Vt. j Aug. 17,1885 A u g . 30,1886 National Bank of Lebanon, Tenn . Greene County National Bank, Springfieid, Mo Feb. 8,1888 Union Stock Yards National Bank, Chicago, 111 Feb. 29, First National Bank, Decatur, Mich Sept. 20, 1890 First National Bank, Mason, Mich | Oct. 28, 1890 First National Bank, Holly, Mich Oct. 31,1890 German National Bank, Evansville, Ind. Dec. 24,1890 Total Issued. $50, 000 100,000 100, 000 300, 000 100, 000 120, 000 100, 000 100, 000 150, 000 50, 000 300, 000 50, 000 75, 000 56, 000 Nov. Dec. Jan. Jan. Jan. F i r s t National Bank, Owosso, Mich Capital. 10, 1891 2, 1891 19, 1891 1892 000 000 000 600 11, 1892 80,000 j 67, 850 44,260 j 23,590 17,1892 25,1894 150,000 j 200,000 | 33, 750 42, 900 17,214 , 950 16, 536 41, 950 5,921,600 j 3,013,666 2, 739,105 274, 561 262 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE BEEN PLACED IN THE HANDS OF RECEIVERS, DATE OF FAILURE, CAUSE" OF FAILURE, DIVIDENDS PAID WHILE SOLVENT, REDEEM CIRCULATION, THE AMOUNT REDEEMED, AND THE AMOUNT OUTSTANDTotal dh'idendi paid during existence as a national bank- j ing association. Organization. Name and location of bank. Date. 21 22 23 25 26 27 28 29 30 31 32 33 34 35 36 37 38 First National Bank, Attica, N. Y . . . . Venango National Bank, Franklin, Pa. Merchants' National Bank, Washington, D. C. First National Bank, Medina, N. Y . . . Tennessee National Bank, Memphis, Tenn. First National Bank, Selma,'Ala First National Bank, New Orleans, La. National Unadilla Bank, Unadilla, N.Y. Farmers and Citizens' National Bank, Brooklyn, N. Y. Croton National Bank. New York, N. Y. First National Bank, Bethel, Conn First National Bank, Keokuk, Iowa . . National Bank of Vicksbnrg, MihS First National Bank, Rockford, 111 First National Bank of Nevada, Austin, Nev. Ocean National Bank, New York, N. Y. • Union Square National Bank, New York, N. Y. Eighth National Bank, New York, N.Y. Fourth National Bank, Philadelphia, Pa. Waverly National Bank, TTaverly. N.Y. First National Bank, Fort Smith, Ark. Scandinavian National Bank, Chicago, 111. Wallkill National Bank, Middletown, N.Y. Crescent City National Bank, New Orleans, La. Atlantic National Bank, New York, N.Y. First National Bank, Washington, D. C. National Bank of the Commonwealth, i New York, N. Y. | Merchants' National Bank, Petersburg, Ya. First National Bank, Petersburg, Va. First National Bank, Mansfield, Oliio. New Orleans National Banking Association, New Orleans, La. First National Bank, Carlisle, Pa First National Bank, Anderson, Ind.. First National Bank, Topeka, Kans . . First National Bank, Norfolk, Va County National Gabson b County Bank, Princeton, IniL F i r s t National Bank of Utah, Salt Lake City, Utah. Cook County National Bank, Chicago, 39 40 J a n . 14,1864 ! May 20,1865 I Dec. 14,1864 | $50,000 I. 300,000 j . 200,000 !. 229 ! Feb. 3,1864 ; 1225 ! J u n e 5,1865 j 50,000 I. 100,000 \. 1537 I Aug. 24,1865 I 162 | Dec. 18,1863 | 100,000 ! $1,780 500,000 i 199 1176 1463 ! J u l y 17,1865 j 150,000 1223 i J u n e 5,1865 j 300, 000 1556 j Sept. 9,1863 \ 200, 000 1141 i May 15,1865 ! 80 | Sept. 9,1863 ! 803 | Feb. 14,1865 I 20,1864 I 429 May " 1331 J u n e 23,1865 j 60, 000 50, 000 50, 000 50, 000 155, 000 1232 J u n e 6,1865 ! Per |2 II 2,236 465 1, 000, 000 Mar. 13,1869 ! 250, 000 384 Apr. 16,1864 I 250,000 286 Feb. 26,1864 100,000 | $7, 500 4.9 421,052 42.1 140,000 56 1192 May 29,1865 106,100 ! 9,424 24,403 23 1631 50, 000 ! 250,000 18, 000 Feb. May I 6, 1866 | 7,1872 j J u l y 21,1865 j 175,000 | 103, 250 1937 Feb. 15, 1872 | 500,000 | 25, 000 5 1388 J u l y ' 1, 1865 I 300, 000 j 59, 472 183, 000 61 500,0C0 805, 000 161 750, 000 429, 250 57.2 140, 000 134,200 95.9 436 1825 Sept. 1,1865 J u l y 1,1865 May 24, 1864 1 May 27,1*871 120,000 100,000 600,000 97, 770 81.5 102,666 102. fi 108, 000 18 21 44 1660 271 2066 J u n e 29,1863 J u l y 31, 1863 Aug. 23, 1866 Feb. 23,1864 Nov. 30,1872 50, 000 50,000 50, 000 100, 000 50, COO 42, 000 31,150 46, 000 90,500 6,000 1695 No.v. 15,1869 100, 000 125,000 300,000 53, 333 17.8 100,000 100, 000 108, 279 149, 245 108.2 149,2 26 J u l y 16,1863 j I 1372 July 1548 1845 J u l y 59 1,1865 8,1871 F i r s t National Bank, Tiffin, Ohio 900 Mar. 16,1865 i Charlottesville National Bank, Char- 1468 J uly 19,1865 lottesville, Ya. 41 Miners' National Bank, Georgetown, 2199 Oct. 30,1874 Colo. 42 F o u r t h National Bank, Chicago, 111.*. 276 Feb. 24,1864 : 43 I F i r s t National Bank, Bedford, Iowa . . 2298 ; Sept. 18,1875 Surplus. | Capital. 150,000 4,500 100, 000 50,000 184,008 *Formerly'in voluntary liquidation. '84 62.3 92 90.5 12 125 184 REPORT OF THE COMPTROLLER OF THE CURRENCY. 263 TOGETHER WITH CAPITAL AND SURPLUS AT DATE OF ORGANIZATION AND AT CIRCULATION" ISSUED, LAWFUL MONEY DEPOSITED WITH THE TREASURER TO ING OCTOBER 31, 1894. Failures. Circulation. Lawful money deposited. Capital. Surplus, Receiver ap- Cause of pointed. failure. Issued. Redeemed. Outstanding. $50, 000 300, 000 200 000 Apr. 14, 1865 May 1.1866 May 8,1866 $44, 000 85, 000 180, 000 $44, 000 85, 000 180, 000 $43, 757 84,789 179, 364 $243 211 636 1 TJ TJ 50, 000 100, 000 $2, 288 Mar. 13.1867 20, 435 Mar. 21,1867 T Y 40,000 90, 000 40, 000 90,000 39, 761 89, 738 239 262 4 5 100, 000 500,000 4,788 Apr. 30,1867 37, 903 May 20,1867 B Q 85, 000 180, 000 85, 000 180, 000 84, 591 178,866 409 1,134 (3 120, 000 Aug. 20,1867 W 100, 000 100 000 99, 800 200 300, 000 32, 000 Sept. 6,1867 u 253,900 253,900 252, 842 1, 058 9 200,000 Oct. 1,1867 Gr 180, 000 180, 000 179,676 324 10 Feb. Mar. Apr. Mar. Oct. 28,1868 3,1868 24,1868 15,1869 14,1869 N B TJ 26, 300 90,000 25, 500 45, 000 129, 700 26, 300 90, 000 25,500 45, 000 129,700 26,145 89, 664 25, 443 44, 723 128,737 155 336 57 2^7 963 11 12 13 14 15 60, 000 100, 000 50, 000 50, 000 250,000 4,610 20, 000 5,000 1,400 5,580 Q 1,000,000 150,000 Dec. 13,1871 Y 800, 000 800, 000 793,147 6,853 16 200 000 Dec 15,1871 TJ 50, 000 50 000 49 742 258 17 do 250, 000 40. 000 F 243,393 243, 393 241, 252 2,141 200, 000 33, 905 Dec. 20,1871 TJ 179, 000 179, 000 177,840 1,160 19 106, 100 27,139 Apr. 23,1872 TJ 71, 000 71, 000 70,114 886 20 50, 000 250, 000 2,509 May 2,1872 Dec. 12,1872 V B 45,000 135 000 45, 000 135,000 44, 545 134 675 455 325 21 175, 000 17,000 Dec. 31,1872 B 118, 900 118,900 117,728 1,172 23 500, 000 3,045 Mar. 18,1873 M 450,000 450, 000 448, 070 1,930 24 300,000 56, 000 Apr. 28,1873 A 100, 000 100, 000 98,841 1,159 25 500,000 108, 000 Sept. 19,1873 M 450? 000 450,000 442, 854 7,146 26 750,000 56,027 Sept. 22,1873 Y 234, 000 234, 000 230,819 3,181 27 400,000 18, 302 Sept, 25 J 873 R 360, 000 360,000 356, 740 3,260 23 200, COO 100, 000 600, 000 11, 801 . do 16, 000 Oct. 18,1873 14,161 Oct. 23, 1873 R P W 179, 200 90,000 360, 000 179, 200 90,000 360,000 177, 015 88, 928 357,000 2,185 1,072 3,000 29 30 31 50,000 50,000 100, 000 100, 000 50, 000 25, 000 23, 839 7, 000 3, 000 1,000 Oct. 24,1873 Nov. 23, 1873 Dec. 16,1873 June 3,1874 Nov. 28,1874 TJ P P G X 45, 000 45,000 90, 000 95, 000 43,800 45, 000 45,000 90.000 95, 000 43, 800 565 797 1,080 1,390 320 32 33 34 35 36 150,000 18, 719 Dec. 10,1874 Y 118,191 118,191 117,149 1,042 37 500, 000 80, 000 Feb. 1,1875. Y 285,100 285,100 283, 343 1,757 38 100, 000 200, 000 20. 000 Oct. 22.18^5 22, 254 Oct. 28,1875 E TJ 45, 000 146,585 45, 000 146,585 . 43,995 144,5o0 1,005 2,055 39 40 Jan. 24,1876 Y 45, 000 45, 000 44,620 380 41 Feb. 1,1876 . .,.do -. Y N 85,700 27,000 85, 700 27,000 82, 891 26, 710 2,809 260 <> 150, 00O 200, 000 30, 000 968 44,435 44, 203 88, 914 93, 610 43,480 * 09 2G4 REPORT OF THE COMPTROLLER OF THE CURRENCY. NATIONAL BANKS WHICH HAVE BEEN PLACED IN THE HANDS OF RECEIVERS, Total dividends paid during existence as a national banking association. Organization. Name and location of bank. Char-! ter mm- Date. Capital. Surplus. Per ber. 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 First National Bank, Osceola, I o w a . . . First National Bank, Duluth, M i n n . . . First National Bank, La Crosse, W i s . . O'ty National Bank, Chicago, 111 Watkins National Bank, Watkins, N. Y First National Bank, Wichita, Kans . . F i r s t National Bank, Greenfield, Ohio* National Bank of Fishkill. N. Y F i r s t National Bank. Franklin, I n d . . . Northumberland County National Bank, Shamokin, Pa. | F i r s t National Bank, Winchester, 111 .\ National Exhange Bank, Minneapolis, Minn. National Bank of t h e State of Missouri, St. Louis. Mo. F i r s t National Bank, DelDhi, Ind First National Bank, Georgetown, Colo Lock Haven National Bank, Lock Haven, Pa. Third National Bank, Chicago, 111 Central National Bank, Chicago, 111... F i r s t National Bank, Kansas CHy, Mo. Commercial National Bank, Kansas City, Mo. First National Bank, Ashland, Pa. w ... First National Bank, Tarrytown, N. Y* F i r s t National Bank, Allentown, Pa.*. I First National Bank, Waynesburg, I Pa.* ! Washington County National Bank, Greenwich, N. Y. First N ational Bank, Dallas, Tex I People's NationalBank, Helena, Mont. F i r s t National Bank, Bozeman, Mont.. Merchants