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Other real estate..

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Loans and discounts

Overdrafts

U. S.. state, municipal and other bonds.

Premium on bonds..

Stocks and other securities

Banking house, furniture and fixtures.

Due from banks.

Checks on other banks and cash items

Exchanges for clearing house..

Silver coin

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LIABILITIES.

Capital stock

$8,229,617 42

Suri lus fund.

$8,329,334 42 1,681,255 43

$9,278,030 60

Undivided profits, less loss and expense account.

1,599,705 92

3,224,265, 47

1,798,848 07

Due to banks-deposits

1,866,604 83

Dividends unpaid.

1,488,037 52

1,508 00

4,198 35

Individual deposits subject to check

26,887,057 27

Time certificates of deposit

Demand certificates of deposit.

35,717,581 81

Savings deposits..

14,839,853 97

24,358,449 37 11,960,562 56 24,091,359 98 16, 123, 105 69

Certified checks.

Cashier's checks outstanding

Notes and bills re-discounted

Bills payable.

Other liabilities

Totals

55, 925 08 158,702 94 69,070 17 106,198 66 22, 258 16.

42,673 54

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131,703 30 3,729 24

96, 458 81 7,624 77

258,732 26

8,978 69

$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 depression 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.

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Table follows:

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Total resources.... $205,304,387 58 $194,467,232 39 $95,059,930 79 †$10,837,155 19 †110,244,430 79

22,382.226 84
4,860,088 72

*1,549, 182 98

21,528,402 94 *386,292 13

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Total liabilities... $205,304,387 58 $194,467,232 33 $35,059,950 79 †$10,837,155 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 preceding." 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

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The total expenses, thus incurred, are partly offset

by the following receipts of this department:

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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 17TH DAY OF NOVEMBER, 1903.

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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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