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$59, 840, 236 93

827,250 92

...

6,760, 303 65

Loans and discounts
Overdrafts
U.S., state, municipal and other bonds.
Premium on bonds.
Stocks and other securities
Banking house, furniture and fixtures.
Other real estate.
Due from banks.
Checks on other banks and cash items
Exchanges for clearing house.
Gold coin ......
Silver coin
U.S. and National currency
Nickels and cents
Revenue account...
Other resources

1,742, 049 02

752, 787 85
15,971, 663 67

281, 048 90

416.841 09
1,518, 149 40

433, 084 25
2,483,208 43

34,171 01

1,605 77 86,242 89

$60,344,279 63

736, 225 12
6,120,868 54

38, 728 63
708, 905 49
1,749,513 08

641, 667 26
14,761, 296 33

442, 749 33

299, 906 97
1,551,546 40

+28, 155 96
2,402, 703 19
30, 341 99

270 40
43,540 44

$60,990, 674 64

504,054 55
6,421,335 91

33,402 03

625, 005 42
1,772,923 04

409, 915 99
14,485, 045 73

387,983 49

297,682 17
1,497,824 75

430,064 92
2,322, 763 59
34,629 99

205 07
32,706 14

$60, 692,969 69

699, 225 55 6,479,652 57

31,622 47
650, 665 26
1,810, 729 69

416,501 08
13,405, 636 36

444,567 60

130, 155 62
1,518,356 00

396,659 63
2,486, 452 07
37, 793 55

146 89

28,555 08 $89,529,689 11

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Capital stock
Sur, lus fund.
Undivided profits, less loss and expense account.
Due to banks-deposits
Dividends unpaid.
Individual deposits subject to check
Demand certificates of deposit.
Time certificates of deposit
Savings deposits.
Certified checks
Cashier's checks outstanding
Notes and bills re-discounted
Bills payable
Other liabilities

$8, 229, 617 42
3, 224, 265 47
1, 866, 604 83

1,508 00
26,887,057 27
35, 717,581 81
14,839, 853 97

55, 925 08
158, 702 94

69, 070 17
106,198 66
22, 258 16

$8,329,334 42
1,681,255 43
1,798,848 07
1,488,037 52

4,198 35
24, 358, 449 37
11,960, 562 56
24,091, 359 93
16, 123, 105 69

42, 673 54
154, 315 90
133, 075 39
131, 703 30

3,729 24

$9, 278,030 60
1,599, 705 92
1,496,316 93
1, 285,385 90

2, 158 35
24, 202,595 03
12, 791, 862 43
22, 432, 629 04
16,615, 142 31

38, 748 25
162,591 75
206, 967 34
96,458 81
7,624 77

$9, 274, 755 00
1,633, 568 90
1,649,588 04
1,077, 129 69

622 75
23, 281, 162 F6
12,894,078 60
22,451, 800 72
16,470,239 58

41, 862 93
160,505 19
326, 664 10
258, 732 26

8,978 69

Totals

$91, 178,643 78

$90, 300,698 76

$90,246, 217 43

$89,529,689 11

The next subjoined table shows the increase in the principal items of resources and liabilities on November 17th, 1903, over November 25th, 1902, namely:

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Little comment is needed upon the above table. The figures speak for themselves. They show that despite the sudden flurry in the stock market and the consequent temporary financial de pression which enveloped the East part of the year,

Wisconsin banks enjoyed well-deserved confidence and increased their volume of business. This fact is further corroborated by figures in Table "C,” which show a comparative condition of state, private and savings banks of Wisconsin annually since 1895, the date of the organization of this department, and the steady, healthy growth of the banking business during the period of nine years.

For Table "C" see appendix.

In order to present the condition of the banking business in Wisconsin in its entirety, the tables furnished this department through the courtesy of the comptroller of the currency and showing the condition of the 107 National banks operating in this state at the close of business on November 17th, 1903, were used to compile the aggregates embodied in Table “D.” This compilation shows the resources and liabilities of all the banking institutions of Wisconsin, viz., national, state and savings, on November 17th, 1903, and a comparison with their condition one year

and
seven years ago, or in 1896.

The latter year was selected for the purpose of comparison, as in former years, being

the foregoing tables, so also here, a marked increase over the year 1902 is shown in the various items, namely, an increase of $8,853,826.80 in loans and discounts, of $3,041,158.06 in the capital, surplus and profits, of $6,122,496.59 in deposits, and of $10,837,155.19 in total resources. There is, however, a noticeable decrease in cash resources, indicating unmistakably a stringency in the money market at the time the reports were rendered.

This department has persistently urged all banks, whose reserve was found low, to replenish the same. Table follows:

Tab'e D.'

RESOURCES.

State, pri
State, sav- State, pri-

vate and
ings and
vate, savings banks, Nov.

savings
National and national
banks, Nov.'banks, Nov.

21, 1896.

National 17, 1903.

25, 1902.

banks, Oct. 6.

1896.

1903. Increase over 1902.

1903. Increase over 1896.

Loans and discounts $131,913,024 01 $123,089,147 21 $59,853,646 44 $8,853,82680 $72,089,377 57 Bonds, stocks and securities

21,976,937 20 21,916,845 91 7,963,988 79 3,060,091 29 17,012,948 41 Cash on hand and

due from banks.... 43,910,629 78 45.459,812 76 22,382.226 84 *1,519, 182 98 21,528,402 94 All other resources . 4,473,796 59 4,001,376 51 4,860,088 72 472,420 08 *386,292 13 Total resources.... $203,304,387 58 $194,467,232 39 $95,059,9:079 $10,937,155 19 +110,241,430 79 LIABILITIES

Capital, surplus and profits &

$31,611,691 63 $28,570,536 57 $24,623,735 69 $3.041,158 06 $6,985,958 94 Due depositors.. 156,519,144 85 150,396,648 26 63,281,563 44 6,122,496 59' 93,237,581 41 Due to banks

10,146,436 14 10,143,925 82 3,445.966 25 * 97.439 68 6,730,469 89 Circulation

5,935,085 00 4,122,708 001 All other liabilities..

2,828,350 00 1,812,377 00 3,106,695 00 1,092,026 93 933,413 74 208,295 41 158,613 22 183,731 55 Total liabilities... $205,304,387 58 $194,467,232 3) $35,059,950 79 $10,837,157 19 $110,244,436 79

* Decrease. Net increase. Only the capital stock actually paid in in the state banks is included in this item.

This report, it will be observed, embodies, among other features, statements of the condition of each National bank doing business in this state. This is a feature adopted several years ago and which has proven a great convenience to the banking fraternity and all concerned. This feature is rendered possible only by the co-operation of the National banks and I desire to express to the officers of these institutions my appreciation of the uniformly courteous and prompt response to my request for copies of their statements to the comptroller of the currency.

STATE BANKING DEPARTMENT.

The banking law provides that, in his annual report, the commissioner of banking "shall also report the names and compensation of the clerks employed by him, and the whole amount of the expense of the Banking department during the year pre ceding.” I assume that the word “clerks" is intended to include the examining force as well as the clerks employed in the office. The present force employed by this department is as follows:,

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The expenses of the department for the year 1903 were as follows, to-wit:

Salaries
Transportation.
Other traveling expenses
Printing
Postage.
Expressage, telegraph, telephone

- Total expenses

$10,014 34

1,398 01
1,893 70
1,018 47
323 4y
39 03

$14, 719 04

The total expenses, thus incurred, are partly offset by the following receipts of this department:

RECEIPTS.
Examination fees
B. & L. Assn. incorporation fees.
Refund for mileage
Refund of expenses from receiver, Bank of Westby

Total receipts

$1,560 00

10 00 125 69

9 75

4. 705 44

Vet amount of expenses

$10,013 60

It may be added that the refund for mileage of two of the examiners, amounting to $234.43, has not been received in time

CLOSED BANKS.

1. Bank of Westby, a private institution owned by Carl O. Brye, having a capital and surplus of $14,000 and deposits of $138,000 was closed by this department on December 17th, 1902, and on the following day a receiver was appointed by the court. The bank is located in Vernon county in the centre of a rich tobacco growing district. The failure of this bank was due to excessive loaning to dealers in leaf tobacco. The estimated loss to depositors will be at least 25 per cent. The receiver's report follows:

RECEIVER'S REPORT OF THE CONDITION OF THE BANK OF WESTBY

AT THE CLOSE OF BUSINESS ON THE 17TII DAY OF NOVEMBER, 1903.

RESOURCES.

1. Loans and discounts.
2. Banking house
3 Furniture and fixtures
4. Cash on hand ...

LIABILITIES. $122,068 00 1. Capital...

$6,000 00 3,000 00 2. Profits, less loss and expense 500 00 account.

2,917 90 1,817 53 | 3. Due depo-itors

106, 467 63 4. Notes re-discounted

12,000 00 $127,385 53 Total..

$127,385 53 Signed: M. H BEKKEDAL, Receiver.

Total

2. The Farmers' & Merchants’ Bank of Bangor was closed by this department on July 15th, 1903. It was a private bank owned by Ludvig Larson of Bangor and D. D. Samuels of West Salem. It had a capital and surplus of $11,000 and deposits of $77,000. The insolvency of this institution was due to lack of correct methods in keeping accounts and to mismanagement and gross negligence on the part of its owners. From the statement of the receiver which follows, it appears that the creditors cannot hope to realize much over 60 per cent. of their claims

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