View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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

i

27, 063, 816. 38

27,973, 911. 86

258, 089, 227. 51

29, 628, 495. 01

212, 630, 636. 30 240, 891, 926. 63 257, 854,100. 32

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
Individual deposits . 1, 539, 399, 795. . 23 1, 586, 800,444. 5011. 670, 958,769. 07] 1 677,801, 200. 85 1, 728, 418, 819.12
10, 538, 365. 64
017. 29
1.00
"1,925,967.44!
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.. 9
90
nickels, and cents.
893, 909.
952, 032.48
1, 026, 813.90
94, 754, 328. 05
101, 006, 531. 58;
95, 799J S01. 6
Gold coin
99, 857, 235.
.08 129, 740,438.19
Gold Treasury certificates
62, 783, 410. 00!
50, 550,100. 00
73,118, 480. O i 69, 198, 790. 00
O
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. 63
C, 140,115.23'
.74.
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, 556, 761,230.17 , 451,124, 330.
751. 439, 374. 141, 749, 930,
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.

Liabilities.
$470,142, 524
17,352,193
6,001,671
14, 056, 406
21, 300, 091

Other assets
Total

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

Loans on real estate
Loans on association stock
Loans on other securities
Cash
. . .

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 | 17 938
073,
13 14 337, 500
6 1 760, 803
177 20 237, 259

State banks
Saving banks
Loan and trust companies.
Mortgage companies
Private banks

j

!

$1, 773, 678
2, 646, 008
420, 000
33,000,000
i 1, 749, 600

415 | 94,291,
348 97,193, 530

Total .

$36, 903,266
16, 830,809
22, 354,000
1, 790,000
19, 315,455

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.

Gold. Silver. Gold certificates.

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

H

739, 688, 036

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
Under $1,000. $1,000 and less $2,000 $10,000.
than $2,000. than
u

Geographical divisions.

is
o |

anio
dep

© .

> o

© o

5

1
<

> o
299.2

$205

BS
o

9 ft
-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

O

To tal.
©

©

n

II

© u '"k

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

O

$10,000 and
over.

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 andT Merchants7 National Bank of Baltimore, 14 Bankers' Magazine, 387; 2 JS . 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 individual liability of the shareholders of an insolvent association may
he
insolv
b
f d
f il i
ll f
bo enforced f th purpose of paying all of its liabilities, and not merely
for the
liabilit
h i l l so
for the purpose of paying its debts," technically so called. Stantonv.
Wilkeson, 8 B 357
8 Ben., 357.
Wilk
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, and to draw against such deposits,
an indorsement of the words "For deposit'7 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 a check is drawn takes the
check and places it upon the "cancelling fork,77 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 <- Williams, 64 Tex., 571.
f
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.
r
26. A bill of exchange, drawn on defendant, was sent by plaintiff to a bank fo1
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 busi*
ness, 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 creditors77
bill 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
8
 CUR


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, purchase the land at foreclosure sale, and cut
and sell the timber. Roebling Sonsf 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 counterclaim against the principal of tho note so sued on.
Hug gins etal. v. Citizens1 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, C O
O
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

Including $28,071,2°»9 for which lawful money has been deposited with the Treasurer of the United
g$ , ,
or
Treasur
States to retire an equal amount of circulation which has not been presented for redem ption.
t t
ti
l
t f i l t i
hih h
tb
tdf
d t i

tTwelve banks restored to solvency and resumed business, making total going banks now 3, 756.
ng total going bank


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, 000
965, 00011
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.

Capital.

Circulation.

79
21
23
24
32
46
101
197
190
146

$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

Total.

$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
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

$230, 000
50, 000
50,000
65. 000
50, 000
200,000
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

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

$180, 000
11, 250
11, ^0C
22. 500
13, 500
45, 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.




Date of
expiration.
1894.
Dec. 14

Capital.

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

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

Me ..

Dec. 15
Dec. 19
1895.
Jan. 2
G

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.

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

N.J

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, C O $10,740
O
First National Bank, Siiokane
Falls, Wasli.U
Oct. 24,1882 July 2G, 1893 ! 250,000
45, 00a I 20, C O
G
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
50,000
ville, Mo
10, 1887 Mar. 17, 1894
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
51
150, C O
O
33, 010
Feb. 12,1864 May 21, 1894
Bridge, Mystic, Conn
'.
F i r s t s ational Bank, Kendallville,
5 300
50. 000
44, 300
May 12,1882 May 24, 1894
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
10 810
July 11,1874 . . . . d o . .
City, 111
Second National Bank, Louis ville,
6 700
300,000
01 172
2,18G5 J u n e 2 1894
Feb.
Ky
Fourth National Bank, Louisville,
do .
300, 000
42 450
3 GO
O
Sept. 26,1882
Ky
Merchants'National Bank, Louis6 100
. . . .do .
500, COO
43 650
July 31, 1874
ville, Ky
Kentucky National Bank, Louis3 708
500, COO
43 500
Dec, 27,1871 . . . . d o .
ville, Ivy
German National Bank, Denver,
1
3 310
Apr. 9,1877 : J u n e 6 1894 200, 000
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 1834
G
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
1 290
50, 000
11 250
Kans
'.. Dec. 4,1886 1 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
G
11 G O
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

: 03*0
J

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

000
1 '
430

9, 750
10, 920

9, 750
10 240

50, 000

13,25 )

11,23.)

150, 000

Oct. 25,1882 . . . . d o

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
secured by
capital stock. secure circu- U . 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 557, 771
$485,

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.

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

January..
February
March. .*
April
May
June
July
August
September
October
November
December

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..
December..


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
June
July
August
September .
October
November .
December..

$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

1886.

1887.

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

January
February
March
April
May
Juno
July
August
September
October
November
December
January...
February..
March
April
,
May
Juno
July
August
September.
October
November ,
December .

j U. S. bonds
Authorized i on deposit to Circulation
secured by
•apital stock, secure eireu " i IT. S. bonds.
latioii.

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.

$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

1892.
January
February
March
April
M ay
June
July
August
September
October
November
December

I
!
!
!
j
I
|
I
!
!
'
|
;

i

i
|
!
j
j

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

January
February
M a r c h .".
April
May
June
July
August
September
October
November
December

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

Bonds.

Circulation.

100, 000

27, 430, 290

$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 j
3,379,950 :
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

16,879,450

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, C O
O
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




2, 741,175
2, 810, 250

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

50,(00

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

40,680,100 | 15,795,750
13,987,000 ' 5,122,050

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.

Bonds.

circulation, and n u m b e r of b a n k s
concerned in s u c h increase.

Circulation. Xo.

Capital.

Bonds.

« • - ' -

1

Khodt Island . . . .
Connecticut
Division No. 1..

$25,000

$22, 500

1
4

Vermont

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

3

3

$100, 000
50, 000

4

$52, 500

$47, 250

25, 000
120, 000 i

22, 500
i n s nnn

Division No. 2..
Delaware
- -M^aryland
Dist. Columbia
West Virginia
Division No. 3..

450, 000

405, 000

7

Pennsylvania

$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

Mississippi

11,250

1

50, 000

12, 500

11, 250

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

150, 000

37,500

33, 750

2
.Alcibftlll*:!

12, 500

2

South Carolina

50,000

1
1

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

1

75, 000

67, 500
i

-•
1

TContiiclcv

Tennessee
Division No. 4..

Ohio
Indiana
Illinois
Wisconsin
Division Net 5..
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

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, C O
O
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

67. 500.
28,125

3, 000

2,700

United States - - .

2, 700
;

1
175, 000

31,250

28,125

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

2

Utah
"Wei** h in °'ton
Wvominfir
Division No. 8..

3, COO

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

Division Ko. 2-.

36, 000

$135, 000
135, 000
3, 309, 300
495, 000
1, 080, 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

150, 000
480, 000
100,000
10, 000
46, 000

135.000
432,000
90, 000
9,000
41, 400

11

Division No. 3 . .

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

Circulation.

$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

Bonds.

1
3
2
31
4
4

Delaware
ATarvlind

isforth Carolina
South Carolina
Oeor°"ia
Florida
.Alabnnin

Capital.

2
5
1
1
2

Connecticut
Division No. 1..

By b a n k s e x i s t i n g October 31, 1893.

2

1
1
8
1
4
19

100 000
75, 000
50 000
975 000
50, 000
1, G )0. C O
O

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, C O
O
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, C O
O

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

Total decrease.

Circulation.

Bonds.

Capital.

Bonds.
$65, 000
150, 000
150, 000
3, 877, 000
550, 000
1, 240, 000

Circulation.

$100, 000

....

$52,500

$47, 250

50,000

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

Connecticut
Division No. 1
New York
New tTersev
Pennsylvania
Division No. 2
Delaware
District of Columbia ... Virginia
West Virginia
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




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, C O
O
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

150,
480,
100,
10,
46,

$58, 500
135,000
135,000
3, 489, 300
495, 000
1,116, 000

150,000
400, 000
575 000
225, 000
75,000 |

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

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

250, 000

000
500
250
250
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.

Bonds.

Circulation.

I, 475, 000
240,000
208,300

$12,500
150, 000
125, 000
3, 757,000
550,COO
1, 085, 000

$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
150,000

Maine
I
I

Rhode Island
Connecticut
Division Xo. 1
$75 000
305, 000

Division No. 2

380,000
.... , .

Delaware

50 000

District of (voliiiiibi*!

50, 000
100, 000

Division ^No. 3

$17,500
4,000

200, 000

W e s t Virginia

21, 500

$15, 750 ,
3, G00
19, 350

100, 000
50,000
i°o coo

75, 000
62 500

270,000

Tennessee

07, 500
56 250

137,500

150, 000
100, 000
175,000
1, 225, 000
50, 000
1, 058, 5(!0
575,000

1

Illinois
JVtiehi <Tan
Wisconsin
Division No. 5

3,333,500

542,500

488,250

495, 000
200, 000

123, 750

Ohio

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
!

Division No. 6

10, 800

Colorado

1

7, 060, 000 I

791,750

712,575

122,000

109, 800

75,000
106 250

G7, 500
95, 025

303, 250

272,925

94, 000
12,500

84,600
11, 250

50 000
700, 000
400, 000

12,000

Kansas
Nebraska

48,825
230, 025
211,500
221,625

25,000
325,000
50, 000

10, 800

256, 250
235,000
246, 250

1,088,000

12, COO

54,250

1,713,000

Iowa

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, 923 (.90
2, 942,
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

$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

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.

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

$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

Total

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

$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 !
603 j
6, 181.
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.

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

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.

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
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

19, 727, 084 j

j 179, 401, 364 j

Outstanding against bonds Oct. 31, 1894
Decrease in circulation since Oct. 31, 1893
Decrease in circulation since Sept. 30, 1894

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,
Issued.
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.




$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,

i

Decrease.

Retired.

323, 399, 487 . 451, 971,123

$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

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
092,126
14 0 9 2 1
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..

Issued
Redeemed d
R
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

Issued
Redeemed
Outstanding
Issued...
Redeemed
Outstanding.
1887..

7,379,000 il, 302, 093, 995 I 81,, 046, 310
7,156, 000 ! 969, 641, 051
223, 000 332, 452, 944 i

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
201,838,860 76.807.150 112, 745, 300 j 11, 646, 500
337, 999, 280 !
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
398,
23, 169, 677 j 15. 495, 038 I 466, 042, 000 040, 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

^

O
W

H

O
*r*
32,880,720
H
S
K
40,4G5,820

156,315,100 ! 11,947,000
139,439,800 I 11,794,000
153,000
16,875,300 :

7,379,000 ; 1, 693, 501, G85
7, 345, 000 : 1,521, 404, 704
34,000
172, 036,921

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

O
O
£

49,051,350

SG. 184, 070

23,169, 677 I 15,495,038
22,813,727 15,321.664
355,950
173,374




One thousands.

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

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 preTotal issued \ Total redempduring the \ vkms years, j to Oct. 31, 1894. jtionsOct. 31, 1894. o u t s t a n d i n g
year.
Oct. 31, 1891.

Ones
Twos.
$25, 282,180
20, 504, 610
13, 559, 720
2, 449, 250
4,790,600

Fives

Ten:
Twenties
Fifties
One hundreds
Five hundreds
One thousands
Total
Unpresented fractions .

! $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. ' -

17, 260
40, 515
13, 550
26, 540
28,730
27, 360

194, 610
17,270
380, 065
72, 065
60, 330
28.730
140, 070
30, 950
90, 084

112, 710
30, 950

90, 084 !
84, 347
5,500

12, 050 i

Grand total October
31,1894.

3,050
12, 770

!

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"

1,236, 237

$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

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

108,900
5,820
26, 300
34, 930
155, 977
156,641
52, 355
14,420
86, 454
43, 775
16,010
19, 760

Total
Surrendered to this office
and retired
From J u n e 20,1874, to October 31,1893
Surrendered and retired
same dates

I Under act Insolvent
and
I of J u n e 20, liquidating
i 1874.
banks.

$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

18, 849
21, 560
27, 650

45, 000

Total.

$456, 750
22, 510
22, 500
1,310,545
135, 000
310,500
1, 634, 005
38, 260
1,855,780

$10,110
0, 580

32,090

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 extended
United States
(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, 460
085,
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 cent
ier cei
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! 383,
i
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
Oj
003, 350 60, 715! 050 230, 718, 400
3, 468, O O 170,
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
000 140, 190, 900 30, 684 000 170, 874,900
3,567
6, 672.
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 cent.
pe
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
961 !
964 ! 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.

$1,000 a n d less t h a n
$2,000.

Total Number
number of banks
of banks. reporting.

593

New York
New York City.
Albany
Brooklyn
New Jersey
Pennsylvania
Philadelphia
Pittsburg
Division 2 .

837

Virginia
"West Virginia

Division 3 . . .
North Carolina...
South Carolina...
Georgia
Florida
Alabama
Mississippi
Louisiana
New Orleans .




18
40 ;
1
12 !
37
30 !

$4,162, 787
3,737,301
1, 720, 925
33, 089, 998
83, 176, 993
10,443,358
18, 228, 266

20,324, 691

~274~
49
6
5
100
333
41

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 .

Amount.

$1,828,053
1,061,823
1, 043, 868
7,650,611
4,411,103
1,529,489
2,799, 744

83
51
49
213
55
59
83

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

o

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
12, 039
31,726
18, 656
1, 922
16,818
26, 707
17.313

o

O

o

739, 688, 036

1,021, 731
2, 341,742
7, 307,826
302, 434
2,578, 047
2, 855,283
381
l\ 200,

o

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
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 C rH <
'
O
-if5
L- I © C © L ^ OJ OI C OI I—
O
—
M
C
O |HlOCONr-iC
I ., ,
-5 CO l > O iO ©5 rH C
O
C
O tO C L- r f OI •*
O
CO Ci OJ C Ci
O

J§

©

Co"c©"^"rH~Cc"co"co'of^**Co"

£
cs a co 10 •** t> © to oo
nr-OI«OHriH

C
O

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: c H N 1
o
0
Th i! 10 io o;

N

IH

Ci IO C
O

O h-OCMffl
I CM t> O 00

t
»

w n

r-i I C C r-i C rH r-t
M O
O

« 00 IM O 00 O
CO • # CO rH Ci CO CO
"
00 H (O I- « CO lO ( -f I - n LO I— -*
r<
( M O I > N « H I Ci I i lO •<* L- t- OS t>

Of
Tf* Of ©" Ci" Tj'~ -H* r*" Ol" Of o f 1^-* o f Co"
OI I! IO
C
O
OJ rH rH
- * OI

n

C I OfliUJWNNHWMO
O
C
M
S l 00 I - W 15 t * O T(I to l>
>
(
L- 1 L- C rH rH lO rH C r-t IO C
1
M
O
O
O" lO" r-T Io'I-H"

M nGr.
M coo

• * H IM ^ O !>•
©
C -<* C lO OI iO C
O
O
M

OHHMOOOOTrij

00 CO CO t - t-- r
WCTO O
S
H i> co I co
C
O

c
o
t

©T ! I I-H"
© Oi CO 00 CC CO Ci CM CM t- lO 00 CS

NOOSOO
CM •** o co fb m

|>.
©
^

O lOffiO> O • *

I \ TH © CO "<# O Ci r-^ 1-- OI lO
© Ol OI C C Ci C C rH Ol
O O
O O I'oOOlOCOOOOIOirHCM©

C !-l Oi 5 i (M r-l
O

•<* CO

CO

• ro
o I w o f i ^ m m co ro © cs
o
o

©

-*

rH Oi tO CO t> CO CO X

t—
tO C Oi C t - to
O
O
C
O
C 00 CO Oi C t O
M
C 1 Tf O © l > OJ C
M 1
O

CO

O5 CO C0~

© L-"r-< -^ OJ CO*

_ _. ^ .
* C lO. © CC © lO
O
I t^ p co rH co © -- * co to. © cc © io I co

ccr-cocooi-^

CO I! - ^ CO CO <M CO CC r-i !M !

3 rH OS 00 1-2 Ol ^

C 00 O ^ CO
O

rH r

<£

cj i-* o-j m c "#
o

C
O
t>O"#'MC0OO!MCCr^C0lO0
I>- I Ci l^ t lO L Ci C I-- i i CJ " * l-O C
—
—
O
—
C
O liTj'bOL'SNIN^CONOOaO

i>. oo r-i m co
©~co"o~io~io"ro"io'"»o"co'"of

co" I Ci -—' t^" I-H" to" o f co* t-" co" oo'~io''^co"'

CollciCOCO©CO00C0CCC0^

C
O iCOCOCOCSrHCO©«bfOCMtbeO©

( M CC CO O U-J CO
O i l ^ TjH ^ J CM ^

©
Ci
©

CM t^ tO Ci I> CC
lO CM CM Ci lO CO
rH ^ Oi in CO -<*

IO © rH OJ •** CO
COOi © O 5 CO CO
t^ CO rH lO rH

OS

co t^ oi cc «n co
m oi C M co r i •**
co t^ co co m in

• I sf I O (M o C 00
C
O
C5 " * Oi C C
O O
rH O C CO
O

h- j ( M r - ( t ^ 0 0 C O — O C i C O C O
C
O I N I O I M K N lO Oi r- C C
O O
oo I Oi co co ov C M m i i -^ oi co
;
-

©
©
rn

CM CO 00 «O CS IO ^H CO Ol CO
to r - T i cc co t- to Oi co t- CO
~ —
<M
!!o500comco©in©coLTt>Ti

r-l

r-i

) tO © l>- ©
11^ rH oc to
• — —' ~ - ^

t - I CO rH

:iCNcct>

rH I LOOlr
1 <M CO "* O IO lO Ci CO to -^ rH O lO
1
1 CO O r i L-- C^ r i CO L- CO O CO to r-t
1
t
I CO iO Oi t - OJ CO

©

O

Oi

©

C
O

M I t^CO-rfiOltOrHoC t-HCO
OOOO
^ I rr »2 «P rsm S3 lGHOO

T«
r-t
C
O

(OJtrHHOHI^ON-*
rH rH

i-H r - i

0 0 CM 0 0

L-

C
O

m m co ^* oo

- C O r-i C O >'
Z> C O " * C O t-

o f CC"co"r-T r-T

Oi OI Tfl C CC rH C CM - * CO rH
O
M
©rH
OOOCM'*
C 100
O

© co as t - co

gc^
rH CM

Ci I O H O C

CM

0
© CM ^
r T rH
-

in in co "* Ci C M

I r* CO lO »O ^ CM
rH CO CO CO O CO

i i O
—
CM CO CO i—I
CO l O 0 0 r H CM r H

Ci co © rH in m

r-+ 3 (O H iM O O O tft'O O H ft" tO 1 r-i 00 C t > C ©
1
M
O
I oo CM CM m o co ^* CM i - o i - m co r-t
OiCMOiCOCOCO
lO
© rH C C t - C
O O
M
lirHCOCOCOCOOO©COtOT)HOiCOCM
00

© © TO © OS
in CM © co

-*
L - t - CO CO t> t^- rH
CO 00 t- CM rH OI
tO I i Oi O CO rH rH CM

rH
OiCOt-COO-*
O I CO CO rH CO CO Oi

C
O O 00 C l>" I— lO f - O C
C
O
"
S O ^ ttocor-jotneooicooivn—ico©
CO
©^*rHCMC^Ci-+Ci'-HCOCMCMCi
co o i rH i n o i o i o i co c^i i n co
IO I CO Ci lO rH CO . D Oi r-t CO CO CO CO CO
3
c IcotoosLOcocoinoiooco
o
©Oit^COI>«l^'t-'—l^fCO
COlOCMCOCOOOOiint-L--

LO rH CO CO

t - IcOrHOiCOCOCO
CM ( t— CM C~ (M CM C
O
t- I r-,CM
I
CO rH rH

OJ

t r H O O C O C C O l O : t C O

TJ*

C C Tt< t ^ t^- C
O O
C CM ~* C rH t
O
O
rH
l > CO Tt*

0O CO

i I! 1 g g I § g § I »"g 2 g

C lO - * Ol
O

Ci I t-» C O CO H r(< O0 X C-l t~O
t^ rH r^ co oi co os L O t~ co co
IC
O Ml>OllOI>-00rHOiOICCOl

!« I
D lO Tt< - ^ T ^
a i o o i co co

r i !>•
—

" * r H Ol Ol r-i

r-TrH" C "
M

IO CO r t
-

cococo©oicot^iomoTfoi©
m ho o n c r L
o d O
O
OWHONLO
O0 iO m L C - f O O O I> C L Tf
O S
5
O O
tO I-H rH C C 00 C
O O
O
O
OOCOHOHH
TtfrHLOCSOOCt^rHCMCOCS-^CO I C | l l © i O C O L O 0 0 © I O !! O 00 lO (N I > H
N
S
^
©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 C iO
O

CO

Ci OI C OI [ - tO
O

C
O
OI

iHlNOtOO
C C
O O
OI rH r

OI C C t ^ © rH
O M
C C rH C T-l rH
O O
M

S : :J
as ft

H C5 C • * to
O
CCCOCOCOCO

C !>• C CS © rH Ol C ^ tO
O
O
O
COCOCOCOTJ*^-^"^!'*!'*




C t ~ 00 Ci © rH Ol C M* tO C t ^ C
O
O
O
O
^ H / HJ( H / o ifl IO tf> W lO tO lO LO

di
OS©rH01CO-Hji
lOCOCOCOCOCO

ll

= Ǥ

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 -..




TJnder $1,000.
Number.

Amount.

! $1,000 and less than
$2,000.
Number.

10, 527
3. 238
2,317
1,922
213 j
3,770 j

199

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 o o
o
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

$7, 537,
282,
5. 275.
2, 500,
3, 620,
400,

I Held October . Minimum
|
2,1894.
j required.

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

3, 731, 300

3,103,500

627,800 J

564, 300

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

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

52,
20,
77,
412.
12!

209 |

Division No. 8

19, G14, 000

32
35
12
27

Division No. 7
North Dakota
South Dakota
Idaho
Montana
New Mexico
Utah
Washington
Wyoming
Oklahoma
,
Indian Territory
United States

Capital.

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




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, C O
O

308

31, 111, 100

310

31, 097, 500

222

19,524,960

221

19, 424, G O
G

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

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, C O
O

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, C O
O
1,616, 000
1, 300, 000
1, 669, 000
1, 055, 000
010, 000

21
11
23
19
20
11
9

1,656, G O
O
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

"Capital.

50. 000
543, 744

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

-- --

1
1
1

$Q0, 600
$150, 000
70, 000
75, 000
1
295, 000

40, 000
208, 000

1

308, G O
O

1

3

100 300

1

100,000

1

200, 300

1

100, 000

1

100.000

2
1
1

150. 000
100,000
50, C O
O

,,

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

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.

GO
O
000
000
500

Vermont

$5,
4,
3,
11.

Capital.

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

G
O

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, C O
O
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

1

2, 750, 000

3

175, 000

11

766,175

1

49. 500

2

150, C O
O

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

34, 610, 340

499

33, 350, 2C0

1

;;.

..

100, C O
O

51.7

TOO GS1

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. •

October 2,1894.

No.

Capital.

Capital.

82,000
2, 075, 000

1
23

$ 9 437 000
82, 000
2,225, 000

2 095 000
400,000

31
5

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

$° 475 000
1
'545

Division No. 7
North Dakota
Idaho
IVlontana
New jyLcxico
Utah
(r

45
11
.

~W ash in ton

"WVOTD in °"

Oklahoma

Indian Territory
Division No. 8

Increase.
No.

Capital.

1 870 000
400, 000

1)9

Colorado
Nevada
California
S?n .Francisco
Ore°"on
Arizona

United States

October 3,1893.
No.

Decrease.
No.

Capital.
$38 000

1

$150, 000
3

1

150,000

C)i>

3

263, 000

5 000

1
1

25, 000
325, 000
50 000
25, 000
50,000
§0, 000

1

50, 000

4
1

2

210, 000

12, 250, 000

2

210,000

8

575, C O
O

. . . . 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
1
1

!

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




700, 000

;

i

1 j

200 000

1 i

Division No. 3

Division No. 4

160, 000 |

j

North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
New Orleans
Texas
Arkansas
Kentucky
Louisville ..
Tennessee
Ohio
Cincinnati.
Cleveland..
Indiana
Illinois
Chicago....

$160,000 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, 900. 000
21 3, 350, 000
9 4. 400, 000
' 8 1, 750, 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.

i
i
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

October
No.

3, 1893.

14

Increase.

October 2,1894.

No.

Capital.

Capital.

No.

Capital.

Decrease.
No.

Capital.

3

$1,200,000

2

500, 000

11
2
5

14, 250, 000

27

12, 600, 000

50, 000

6

1,700,000

200,000
200, 000

1

200,000
200, 000

1, 300, 000

9

2, 950, 000

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

V

Division No. 8
U n i t e d States

1

f
>
12
2

Oklahoma
Indian Territory

$50, 000

4

V yomin 0 "
V

$5,100, 000
200, 000
3,050,000
2, 500, 000
1, 750, 000

1

New Mexico
Utah

11
1
9
2
4

33

Division No. 7
North Dakota
South Dakota

$6, 300, 000
200, 000
3, 550, 000
2, 500, 000
1, 700, 000

2G
. .




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
92
.
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 .

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.

RESOURCES.

Total

Oct. 2,
1876.

Oct. 1,
1877.

Oct.], I Oct. 2,
1878.
1879.

1,919
banks.

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

Sept. 12, Oct. 2,
1873. ' 1874.
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

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

Total

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) 2, 877,194| 3, 267, 448
9, 432, 334
Checks and cash items
49, 630, 359j 56, 552, 503 27, 649, 938
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,
ton New Orleans, Louisville, Cincinnati, Cleveland, Detroit, Milwaukee, Des Moiues, Minneapolis,
St.
St Paul, Kansas City, St. Joseph, Lincoln, Omaha, and San Francisco.




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, 0281 205, 793, 578 Oct. 1.1806
16. 909, 363! 237, 250, 6541 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.

ct. Per ct. i Per ct. Per ct. | Per ct. Per ct.
Per ct. Perct. Per ct. Per
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
On time,
On demand, IOn demand, On time, single-name
paper with secured by paper with paper(one
stocks,
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, C O $344,199,941
OJ
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,
453, 834 2, 036,410: 10,361, 574
28, 734, 347
10,4
305,406 25, 863; 957 67, 059, 124 27, 919,321 25,724, 662 154, 872, 471
(
602, 716
3, 065, 981
788, 531
283, 872
975, 578
7, 716, 679
2,1
130,343
3, 748, 586' 3;603, 222
426,100 1, 222.063
9,130,313
425,270 21, 095, 428 i 33, 556 16,439,444 26, 041;719J 98,783,417
781,
054, 508
390,
4, 971, 361| 22, 462
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; 3, 544, 208 4, 478, 561 31,667,456
2,175,116 22, 832, 2251 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. 346 5, 005, 067 15, 003, 560
r
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, 312 471, 581
9,

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
Chicago
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, 788 309, 350. 26
85,
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 $39, 218. 33
$ ,
j

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,
1, 731.829. 501 3,15 210 $3,150, 000
Philadelphia
1, 738,
Pittsburg
876. 501 906, 3801

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 i , 745 ,
681, . „ ,
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.

Gold | GoldSilver coin.
Silver
Treas- I clearingTreasu r y cer- house cerury certificates, tificates. Dollars. Fractional. tificates.

$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,

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|

""20,"
2,
15,
301,
194,
15,
44,
34,
109,

6, 926, 941. 34
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

$305, 609.25
572, 328. 66
3, 224, 585. 88
240,488. 25
1, 588, 078. 05
656, 781. 80
339, 069. 45

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

110,370
381, 720
13, 792
297, 724
129,120
21, 340

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

2,
73,

6

$85, 829

271, 348 227, 506. 61 1, 039, 895

1,749,121.73 3, 639, 070

North Carolina
South Carolina
:..
Georgia
Florida
Alabama
Mississippi
Louisiana
New Orleans
Texas
Arkansas
Kentucky
Louisville
Tennessee
Ohio
Cincinnati .
Cleveland ..
Indiana
Illinois
Chicago
Michigan
Detroit
Wisconsin
Milwaukee.

$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

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. C 1, 130, 400
O
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

836,230




41, 537. 95
45, 902. G
O
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

146, 540
21,480,
54, 930
39, 780
115, 120

Division N o . 4 . . 3, 975, 511. 52J

20, 690:
34, 845
67, 828!
3, 995!
17, 976
82,215!
37,112

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
849 189, 027. 43
239, 932
284,
223, 114! 188, 982. 90 1, 289, 847
99, 811
89, 904. 61
118, 769;
113,304
48, 841. 05
25, 767!
142]
105,294
73, 426. 66
95,
!
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.'

19, 852
28. 457
9,906
61, 270
20, 884
41,159
78, 160
17, 513
6,469
4,611

237,610!

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|

22, 950 .
10, G20
1,230
71,810
4,860
73,910
49,570
360
460i
1,84C|

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

$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
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

2, 831. 783. 09. 1, 786,120

$415,170. 77
715, 875. 77
2, 940, 801. 70
237, 627. 50
1,398,848.40
945,373.56
592,983. 60

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

18, 883
18, 099
83, 556
26, 084
64, 894
8,095
38,399
741, 024
380, 421
63, 852
82, 686
27,000
274,939

531, 385. 42 1,827,932

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.

10,
13,
772,
59,
13,
61,
11,

000
320
820
220
200
840
200

28,500

1,123, 080
183. 53
281. 00
473. 66
890. 00
766.18
384.90

83, 250
4,260
25, 000
90
500

10,800
9,350
450
11,410
5, 450
75,180
55,
620

""i'ioo
3, 607, 8D0. 90

1, 799,148 1,347, 858. 09! 7,449, 540| 46, 565, 353. 02

121,980 !
3, 500
9, 000
18. 500

113,100

North Dakota
South Dakota
Idaho
Montana
New Mexico
Utah
Washington
Wyoming
Oklahoma
Indian Territory...

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

Division No. 6. 13, 425, 038. 60
Colorado
Nevada
California
San Erancisco...
Oregon
Arizona

Division No. 8.

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

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.

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

Gold coin.

149,138.64
585, 551.26
621, 213. 82
741, 046. 53
059,178.16
033, 622. 70
864, 541. 96

$43,132
65, 065
24, 716
269, 654
75, 878
37, 4051
68,681
584, 531

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, 25, 965, 000
:377,160
406, 012. 50
331, 000
151, 385. 50
219, 600
1, 633, 657.10
33», 000
5, 685, 500. 58
557,030 8,045,000
1,905,828.50
247,910
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

$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

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. OOj
j
!
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.

6,816,113.31

. .

Division No. 8

United States




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
~ '
Oct. 3,1893
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 Specie. Other law Due from Redempbanks. pO;5 t s .
(25 per Amount.
fill money. agents. tion fund.
deposits.
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
 of United States
Total



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

ct. Millions. Per ct.
25
131. 3 41. 55
25
114.9 36.16
15
119.0 31.65

Total
February

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

ants, j Net deposits.

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.

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. C O
O
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 heI .
d

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
791 829 29 38
49

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

19.23
46, 353, 240 ,
46,432,159 18.61
49,612,882 19.54
17.59
46,485, 078 ,
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.

Classification of reserve held.
Lawful money (6
W i t h reserve
percent).
i agents (9 per cent).
Amount

Katio.

Amount.

Per ct.
28.04
29 56
27.29
33.50
33.54

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. 20 . . ..
May 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

Classification of reser\ e held.
Lawful mo ney (6
per cent ).
Amount.

Amount.

Ratio.

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. 1 3.. . .
May 4 . . .
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. 140.... .
Apr. 3 .
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. 287.. . .
May 1 . .
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.

Lawful money (6
per cent).
Amount.

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.

Classification of reserve held.
Lawful money (6
per cent).

With reserve
agents (9 per cent).

$5, 978, 551
5, 699, 692
5, 697, 478
6, 635, 005
7, 038, 522

Per ct.
33.67
31.86
31.41
34.07
33. 10

Five
per cent
redemp-

Amount.

1885.
Mar. 10...
May G.. .
July 1 . . .
Oct. 1 . . -.
Dec. 24 . .
1S£6.

i

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.
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

Mar. 4 . . .
May 13..
Auc;. 1 . .
Oct. 5 . . .
Dec. 7 . . .

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.

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

Classification of reserve held.
Lawful moiley (6
per cen

Ratio.

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. 6 . . .
May 4 .. . . .
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. 4
May 26 . . .
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

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

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

$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

Capital and
surplus.

$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
751

United States




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

133
120

4
9
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
16
1, 700, 320.
50
1, 484, 316.
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

i

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
02
2, 032, 430.
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

Division No. 7

Division No. 8

6,045, 000. 00
35 800, 000.00

54
9
9

Division No. G

North Dakota
South Dakota
Idaho
Montana
New Mexico
Oklahoma
Indian Territory
Utah
"Wyoming
Washington

14;080, 000. 00

64
5

Iowa
Des Moines
Minnesota
St. Paul
Minneapolis
Missouri
St. Louis
Kansas City
St. Joseph
Kansas
Nebraska
Lincoln . .*
.Omaha

121, 787, 100. 00.

1G5
4

Division No. 5.

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. C
O

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

Dividends.

N e t earn- Dividends
ings to cap- to capital
ital and
and sursurplus.
plus.

Dividends
to capital.

.

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

232,
58,
370.
1,

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. C
O

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

Gross earnings.

$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

45, 058, 669. 01
,
92, 931, 500. 00
,
2, 848,
,500. 00
,000. 00
3, 477,
,110.00
22, 307,
,370. 91
57,465,
37,331 ,000.00
19, 302, 268.18

Division No. 2.

832

Delaware
Maryland
Baltimore
District of Columbia
Washington
Virginia
g
W t Virginia
West Vi

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
400. 00
9, 806,
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

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,

North Carolina...
South Carolina...
Georgia
Florida
Alabama
Mississippi
Louisiana
New Orleans .
Texas
Arkansas
Kentucky
Louisville
Tennessee
Division N o . 4




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. C
O

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 L _ « Ut na ll «.tAc_v
r
sto k
Territories.
banks.. a P l
-

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
000. 00
0, 230,

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, 456.34 268, 522. 04
2,
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

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

46
47
48
49
50
51
52
53
54
55
56
57
58

2.56

314, 954. 30
4, 655. 40
108. 076. 30
16, 257.10
241,1)55. 50
2, 712. 65

36
37
38
39
40
41
4?
43
44
45

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

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
3.7 3.7 3.1 3.6
3.8 3.6 3.8 3.7
3.8
2.8 3.2 3.6 3.2
4.8 3.2 3.2 4.2
4.9 5.0
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
25
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

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

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

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

2 7
16

m J!

P.ct.

P.ct.

2 7

3.1
1.8
2.6
3.3
1.6

Cj GO

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.
http://fraser.stlouisfed.org/1892. 1893. and 1894 RiffnifvnerfiftTitn.e'e of loss.
Federal Reserve Bank of St. Louis

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.




4.0

6. 736, 479
9, 789,135
2, 553, 055
8, 834, 050

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, 338, 635
7, 328, 798
1, 994, 537
6, 485,172

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

3.1

21,335,436 27, 527, 666

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

Dividends. Net earnings.

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

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

4.4
5.5
5.0

3.4 i

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

32
41
3.6
3.9

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 ; 3. I 3.8
2.8 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
61
.
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
59, 611, 513 7.9
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
First National Bank, AVellsburg, AY. A"a. June 24,1871
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
1873
Oct. 2,"
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. 10,11874
" ' ""
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, AV. Va..) Apr. 22,1875
g,
First National Bank Mount Clemens,
First National Bank, 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
July 1, 1875
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. 9,1875
Pa
p ,
60,000 j
S t 15,
State National Bank, Topeka, Kans
' Sept, 151875
Farmers'National Bank, Marshalltown, I
50, 000
1875
Iowa
I Sept. 18,
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,
F i r s t National Bank, Newport, Ind
1876
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
1876
Syracuse National Bank, Syracuse, N. Y . Sept. 25,
,
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
.
F i r s t National Bank, New London, Conn. Jan.' 9 1877
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
1877
National Exchange Bank, AT akefield, R . I . Oct. 27.
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
Dec. 31,1877
State National Bank. Minneapolis,Minn..
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
1878
First National Bank, Sparta, Wis
Sept. 14,
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,
First National Bank, Prairie City, 111
1878
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, Iowa
....d
g,
Yh st National Bank, W
N t i l B k Watertown, N . Y May 26,1881 |
N Y.
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 B k H b
Bank, Hobart, N Y
N. Y
Fi
N t i l

Aug. 30,1881
Attica National Bank, Attica, N. Y
National Bank of "Brighton, Boston,Mass. Oct. 4, 1881 |
Clement National .Bank, Rutland, Vt. A .. Aug. l,
Auir. 1,1881
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
37,117 !
50, 000
40, 000
Secc National Bank, Lansing, Mich-. July 31,1884
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• National- Bank, Homer, 111
— ••
- - - —
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, T is
V
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. 29,'1890
Ky
p
,
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
.; J u l y 1,
Wakeiield Nat ional Bank, Wakeiield. 1L I.
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
1891
! Jan. 13,
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,
1891
Feb. 19,
Kans
1891
Feb. 23,
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.

Retired.

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
50, 000
Firtt National Bank, Indianola, Nebr...1 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
Mar. 4, 1892
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
io .
l
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'




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.

e tired.
$33, 750
22,500
11,250

July 5. 1892
July 12, 1892
July 22, 1892

ing.

$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
1893
60, 000
First National Bank, Mankato, Kans ... Sept, 19,
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
75, 000
Sept. 30,1893
Second National Bank, Helena, Mont
50,000
First National Bank, Minneapolis, Kans. Oct. 9, 1893
50, 000
Oct. 14, 1893
First National Bank, Wharton, Tex
Farmers and Merchants' National Bank,
1893
Oct. 19,
100,000
Clarksville, Tenn
1893
50, 000
First National Bank, Slaughter, Wash... Oct. 25,
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
Second National Bank, Pontiae, Mich ... Sept. 1.1885
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 Bank, Cincinnati, Ohio.
Second National Bank, New 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, Westfield, N. Iowa' Oct. 31,1884
FirstNationalBank, Independence,Y
C liBLi 01 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

Btired.

Outstanding.

$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

$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

$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

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

Nov.
Dec.
Jan.
Jan.
Jan.

F i r s t National Bank, Owosso, Mich

Coventry National Bank, Anthony, K. I. A p r . " 1885
17,3
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

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.




Issued.

Feb. 6, 1885
Feb. 20, 1885
Mar. 7, 1885

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

Total

Capital.

i

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
Gabson
b
County National
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 |

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 |

Per

$50,000 I.
300,000 j .
200,000 !.

100,000 ! $1,780
500,000 i

199
1176

1463 ! J u l y 17,1865 j

200, 000

1141 i May 15,1865 !
80 | Sept. 9,1863 !
803 | Feb. 14,1865 I
429 May 20,1864 I
"
1331 J u n e 23,1865 j

60, 000
50, 000
50, 000
50, 000
155, 000

II

300, 000

1556 j Sept. 9,1863 \

|2

150,000

1223 i J u n e 5,1865 j

1232 J u n e 6,1865

!

2,236

1, 000, 000

250,000

286 Feb. 26,1864

4.9
42.1

56

250, 000

384 Apr. 16,1864 I

$7, 500
421,052

140,000

465

Mar. 13,1869 !

100,000 |

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

184,008

125

4,500

100, 000
50,000

'84
62.3
92
90.5
12

*Formerly'in voluntary liquidation.

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, C O
O
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