SUMMARY OF THE STATE AND Condition of EVERY NATIONAL BANK REPORTING DURING THE YEAR ENDED SEPTEMBER 28, 1895. Dec. 19, 1894. Mar. 5, 1895. May 7, 1855. 3,711 banks. July 11, 1895. Sept. 28, 1895. 3. 712 banks. RESOURCES. Loans and discounts. U.S. bonds to secure Stocks, securities, etc) $1,991,913, 123. 45 $1,965,375, 368. 94 $1,989,411, 201. 90 $2,016, 639, 535. 53 $2,039,408,402. 27 niture, tures... Other real estate and 75, 400, 976.70 77,075, 488. 01 77, 340, 348. 27 124, 798, 322. 39 30,962, 557. 31 234, 331, 340. 54 13, 051. 055. 46 80, 869, 202. 29 18, 522, 596. 00 114, 702, 331. 22 117, 720, 533. 90 127, 329, 742. 98 Gold Treasury certificates. 885, 072.59 114, 898, 047. 13. 29, 677, 720. Co 23, 400, 860.00) 23, 182, 950.00 30, 823, 000. 00 mortgages owned.. Due from national banks (not reservo agents).. Due from State banks and bankers........ Due from approved reserve agents.. Checks and other cash items... Exchanges for clearing house.. Bills of other national banks.... Fractional paper currency, nickels, and cents. Gold coin.. 1,002, 373. 06 120,855, 575. 38 29,550, 637, 00 5, 956, 959. 18 113, 281, 622. 00 208, 682, 765. 00 15,328,000.00 10,790, 350. 00 16, 469, 109. 73 195, 028, 085. 35 78, 244, 843.75 25,527, 027.04 123, 521, 087. 20 30,830, 452. 60 218, 799, 491. 90 235, 308, 761. 15 222, 287, 251. 45 1,007, 766. 10 123, 258, 436. 89 28, 519, 277. 00 5, 617, 398.91 118, 529, 158. 00 1,023, 441. 43 117, 476, 837. 32 22, 425, 600.00 31, 215, 000, 00 30, 127, 457.00 5,834, 241. 11 123, 185, 172. 00 13,056, 424.53 57, 506, 787. CO 15, 537, 100.00 936, 484. 41 110,378, 360. 22 21, 525, 930. 00 31, 021, 000.00 5, 505, 459.00 22, 914, 180. CO 4,892, 381.95 93, 946, 685.00 49, 920,000.00 9,085, 60C. 08 1, 146, 281. 47 1, 285, 534, 36 3, 423, 474, 873. 11 3, 378, 520, 536. 75 3, 410, 002, 491. 24 3, 470, 553, 307. 28 3, 423, 629, 343. 63 ................ 3, 423, 474, 873. 113, 378, 520, 536. 75 3, 410, 002, 491. 24, 3, 470, 553, 307. 28 3, 423, 629, 343. 63 SUMMARY OF THE STATE AND CONDITION OF EVERY NATIONAL BANK REPORTING DURING THE YEAR ENDED OCTOBER 6, 1896. Loans and discounts. $2,041,499, 137. 57 $1,966,211,736. 86 $1,982,886,364. 29 $1,971,642,011. 65 $1,893, 268,829. 31 U. S. bonds to secure circulation U. S. bonds to secure Stocks, securities, etc) niture, and fixtures Other real estate and mortgages owned.. Fractional papercur Gold clearing-house certificates Silver dollars. Silver Treasury certificates Silver fractional coin. Legal tender notes. U.S. certificates of deposit for legaltender notes... Five per cent redemption fund witli Treasurer Duo from U. S. Treasurer Total........ 210, 479, 500.00 215, 637, 100. 00 225, 017, 500. 00 15, 358,000.00 8, 655, 900.00) 16, 698, 340. 04 193, 383, 321.52 34,922, 000. 00 25, 573, 000, 001 15,928, 500. 00 15,793, 000, CO 9, 342, 500.00 78, 637, 728. 91, 78, 927, 684.22 3, 423, 534, 328. 26 3, 347, 844, 198. 58 3, 377, 638, 822. 24 3, 353, 797, 075. 97 3, 263, 683, 313. 83 LIABILITIES. Capital stock paid in. Undivided profits less expenses taxes paid... National bank notes outstanding..... State-bank notes outstanding. Due to other national banks Due to State banks and bankers... Dividends unpaid. Individual deposits.. 1, U. S. deposits... Deposits of U. S. dis bursing officers... Notes and bills rediscounted Bills payable.. Liabilities other than those above stated.. Total.. 3, 423, 534, 328. 26 3, 347, 844, 198. 58 3, 377, 638, 822. 21 3, 353, 797, 075. 97,3, 263, 685, 313.83 ANALYSIS OF REPORTS OF 1896. The change in the item of individual deposits during the report year of 1896 is shown to be as follows: It increased from $1,701,653,521 on September 28, 1895, to $1,720,550,241 on December 13, 1895; declined to $1,648,092,868 on February 28, 1896, then slightly increased on May 7, 1896, again decreased from $1,668,413,507 on July 14, 1896, to $1,597,891,058 on October 6, 1896, being almost $104,000,000 less than the amount shown on September 28, 1895. The number of banks holding these deposits on September 28, 1895, was 3,712, with capital stock of $657,135,498, as against 3,676 on October 6, with capital stock of $648,540,325. The surplus fund of the banks on September 28, 1895, was $246,448,426, and their net undivided profits $90,439,924. On October 6, 1896, the former had increased to $247,690,074, while the latter had decreased to $88,652,759. On September 28, 1895, national-bank notes outstanding secured by bonds deposited amounted to $182,481,610. The returns under each call showed a continued increase during the year, the amount on December 13, 1895, being $185,151,344, on February 28, 1896, $187,217,372, on May 7, 1896, $197,382,364, on July 14, 1896, $199,214,049, and on October 6, 1896, $209,944,019. The amount due to other national banks, which on September 28, 1895, stood at $320,228,677, decreased to $285,314,203 on May 7, 1896, increased on July 14, 1896, to $291,990,811, and then fell to $269,043,386 on October 6, 1896. The amount due to State banks and bankers, which on September 28, 1895, was $174,708,672, decreased to $157,980,455 on May 7, 1896, increased to $162,311,142 on July 14, 1896, and fell to $146,058,794 on October 6, 1896. The liabilities of the national banks for money borrowed, in different forms, aggregated on September 28, 1895, $35,254,611, had increased on February 28 to $40,866,736, decreased to $30,573,001 on July 14, increasing to $38,967,450 on October 6. The total liabilities, which on September 28, 1895, were $3,423,629,343, decreased to $3,377,638,822 on May 7, 1896, and to $3,263,685,313 on October 6. On the side of resources, the loans and discounts, which on September 28, 1895, amounted to $2,059,408,402, decreased to $1,966,211,736 on February 28, 1896. They increased on May 7 to $1,982,886,364, only to decrease to $1,893,268,839 on October 6, indicating a falling off in this item of about $166,000,000 as compared with the aggregate of loans and discounts on September 28, 1895. The amount of United States bonds to secure circulation, which on September 28, 1895, was $208,682,765, increased to $237,291,650 on October 6, 1896. The banks held, on September 28, 1895, $26,118,350 United States bonds, other than those securing circulation. On December 13 the amount decreased to $24,013,900, then increased on February 28, 1896, to $48,132,400, and decreased on October 6 to $25,135,500. The investment of assets in stocks, securities, etc., on September 28, 1895, was $195,028,085. It had decreased on October 6 to $188,995,352. The investment in banking-house, furniture, and fixtures, which on September 28, 1895, was $78,244,849, showed but slight variations during the year, being on October 6, $78,046,817. Other real estate and mortgages owned on September 28, 1895, amounted to $25,527,027, and increased to $27,403,155 on October 6. The amount due from other national banks (not reserve agents) on September 28, 1895, was $123,521,087, increased on December 13 to $131,007,238, then decreased to $114,073,966 on May 7, increased slightly on July 14, 1896, and decreased to $111,830,935 on October 6. The amount due from State banks and bankers on September 28, 1895, was $30,830,482, increased to $33,341,627 on December 13, and decreased on October 6 to $29,583,299. The amount due from approved reserve agents decreased from $222,287,251 on September 28, 1895, to $189,344,601 on February 28, afterward increased to $204,384,106 on July 14, and decreased to $190,077,533 on October 6. Exchanges for clearing house, which on September 28, 1895, amounted to $57,506,787; on February 28 had increased to $89,996,450, but decreased, on October 6, to $76,760,416. The specie held by the banks on September 28, 1895, was $196,237,311, while on October 6, it was $200,808,632. The amount of legal-tender notes and United States certificates of deposit for such notes which on September 28, 1895, aggregated $143,866,685, decreased to $130,649,423 on December 13, increased to $147,006,652 on May 7, decreased to $140,378,290 on July 14, and increased to $142,334,730 on October 6. REVIEW OF REPORTS, 1892 To 1896. As a supplement to the analysis of the bank returns of 1896, it is not out of place to undertake a brief review of those of the past four years, marking as they do the most trying conditions through which the national banking system has been called to pass. Such review, it is believed, will best illustrate the very great changes which have occurred within a period so comparatively brief. On September 30, 1892, the aggregate resources, as also the aggregate liabilities, of the national banks rose to the highest mark in the history of the system, viz, $3,510,094,897. On the side of liabilities, individual deposits stood at $1,765,422,983, and on the side of resources, loans and discounts were $2,171,041,088, being respectively the maximum amount ever registered, either before or since September 30, 1892. Along the lines of these two items of receiving deposits and lending money, representing, as they do, the principal functions of banking in this country, the greatest fluctuations have occurred during the years under consideration. The item of deposits showed very little variation in amount from September 30, 1892, to May 4, 1893, when it was $1,749,930,817. After the latter date, however, it shrunk suddenly and rapidly to $1,556,761,230 on July 12, 1893, and on October 3, 1893, touched $1,451,124,330, the lowest point since December 11, 1889. From this shrinkage of deposits, amounting to nearly $300,000,000, from May 4 to October 3, there was a rapid and steady recovery, until on October 2, 1894, just a year after the date of lowest depression, they were $1,728,418,819, or but $21,000,000 less than on May 4, 1893. There was thereafter for a brief period a slight decrease in the volume, but it rose again on July 11, 1895, to $1,736,022,006, falling to $1,648,092,868 on February 28, 1896, and standing at $1,668,413,507 on July 14, 1896. Between this date and October 6, 1896, decrease was marked, being nearly $71,000,000, leaving the deposits at the latter date at $1,597,891,058. The resources of the banks showed loans and discounts to the amount of $2,161,401,858 on May 4, 1893. They had fallen on July 12 to $2,020,483,671, and on October 3 to $1,843,634,167, It is noticeable that after this date there was a steady expansion of loans and discounts until October 2, 1894, when the amount was $2,007,122,191. As the deposits held by national banks are the chief source of supply for the funds from which loans and discounts are made to their cus tomers, and as the law requires the banks, in the interest of depositors, to keep on hand in money a stated proportion of the funds deposited with them for safe-keeping, known as lawful money reserve, this reserve is necessarily affected by the movements of deposits and loans, and an examination of its ebb and flow during the four years under review is of equal interest. On September 30, 1892, the lawful money reserve of all the banks, consisting of specie, legal money notes, and certificates for legal tenders deposited, amounted to $327,000,000; on December 9, 1892, it was $318,000,000; on March 6, 1893, $313,000,000, and on May 4, 1893, $322,000,000. The variations during this period, it thus appears, were slight; but owing to the extraordinary demands of depositors occurring suddenly and unexpectedly after May 4, the reserve on July 12, 1893, fell to $289,000,000, the banks being compelled to pay $193,000,000 of deposits during that period, $141,000,000 of which were provided by the calling in of loans and discounts, which the banks, under the force of such withdrawals, were compelled to demand. The drain of deposits continued after July 12, and by October 3, 1893, $105,000,000 additional had been withdrawn, these and prospective withdrawals being provided for by the collection of $177,000,000 of loans and discounts, with the result that the reserve on hand reached on October 3, $346,000,000. After October 3, 1893, with returning confidence, deposits rapidly returned to the banks and there was gradual expansion of loans and discounts, though in smaller proportion. There was again an increase in reserve. From $346,000,000 on October 3 it went to $414,000,000 on December 19, 1893; to $433,000,000 on February 28, 1894, touching on May 4, 1894, $452,000,000, the highest point it has ever reached. It decreased to $439,000,000 on July 18, to $402,000,000 on October 2, and $374,000,000 on December 19, 1894. On July 11, 1895, the amount stood at $382,000,000, after which it fell to $340,000,000 on September 28, 1895, since which time, and up to October 6, 1896, the reserve on hand has not been subject to sudden fluctuations. The variations are measured by a limit of $12,000,000 between the highest and lowest amounts held. With a more settled condition in business affairs there was seen a greater expansion of loans and discounts and a consequent gradual decrease in the amount of reserve held. The amount of circulating notes of the national banks outstanding on September 30, 1892, was but $143,423,298. The increase thereof was very slight and gradual, due mainly to the compulsory obligation of new banks to deposit bonds, up to July 12, 1893, when it stood at $155,070,821. Under the stress of a currency famine the issues expanded by October 3, 1893, to $182,959,725, but thereafter steadily decreased, falling to $169,337,071, on December 19, 1894. With the new issue of bonds, the lessened price of bonds, and an apparent increased margin of profit in issuing notes, the volume began to increase, until on October 6, 1896, it amounted to $209,944,019, or about $66,000,000 greater than on September 30, 1892. In the matter of capital stock, the maximum in the history of the system was reached on December 9, 1892, being $689,698,017 for 3,784 banks. This amount had decreased to $688,701,200 on May 4, 1893, while the number of banks had increased to 3,830, the largest number doing business at any time since the establishment of the system. After May 4, |