state and national banks in Kalamazoo. state and national banks in Bay City state and national banks in Alpena. Banks organized since December 1, 1911 Capital stock, increase and decrease of STATE BANKING DEPARTMENT. REPORT OF THE COMMISSIONER. STATE OF MICHIGAN, Banking Department, Lansing, December 31, 1911. To the Honorable Chase S. Osborn, Governor of Michigan: Agreeable to the provisions of Section 43 of the General Banking Law of Michigan, I have the honor to submit for your consideration the twenty-third annual report of this Department for the year ending December 31, 1911. NUMBER OF STATE BANKS AND TRUST COMPANIES. There are at the date of this report under the supervision of this Department, 417 state banks and five trust companies transacting business in Michigan. In the statistics and tables included in and following the text of this report, the number of banks is given as 416, one bank having commenced business since the date of last report of condition, December 5, 1911. FINANCIAL CONDITION. Reports showing the condition of all state banks and trust companies will be found on pages 3 to 428 inclusive. Reports of condition were called for by the Department and made by the banks at the close of business, November 10, 1910, January 7, March, 7, June 7, September 1 and December 5, 1911. The last named report as to each state and national bank will appear in the Department's annual report for the year 1912. In order that the annual report may be in the hands of the public in time to be of use as a book of reference, this plan of publishing reports has been adopted. Statements of condition of each national bank in Michigan will be found on pages 431 to 534 inclusive. Special attention is called to the tables in the text of this report, as evidencing the increasing wealth and prosperity of the people of Michigan since the organization of the Department in 1889. These tables contain abstracts of the annual reports of state and national banks for the past twenty-three years. Again included are the statistics of the EXAMINATIONS. The examining staff of the Department, during the year 1911, has made 855 examinations, as follows: First examinations Second examinations. Third examinations Preliminary examinations Special examinations 423 404 7 ོ=རྞསྐ The above table will show that all of the banks have been examined twice during the year with the exception of new banks organized during the last six months. Preliminary examinations consist of examinations of new banks under Section 7 of the Banking Law, which is incumbent upon the Department to make precedent to the issuance of certificate of authority to commence business. Special examinations are made up of examinations of national banks about to be consolidated with state banks, or examinations of private banks, where same are requested, and are made in addition to the preliminary examinations required by said Section 7. Each of the five trust companies has been examined once during the year, in accordance with the provisions of the trust, deposit and security law. Reports of examiners as to condition of the several state banks have been carefully scrutinized and letters of criticism written the banks. Such letters, as well as replies thereto, are made a part of the directors' records in each bank. All state banks, with the exception of those organized during the year, have made five reports of condition, two reports of earnings and dividends, two reports showing result of directors' examinations, and also special reports wherever the Department has deemed it necessary to require same. Oaths of directors, signatures of officers, and list of stockholders, together with a report as to the number of depositors are furnished the Department each year by each state bank. RESERVES. As a general proposition, the requirements as to cash and legal reserves contained in Sections 24 and 27 of the law, have been fully met. as is evidenced by the following table: |