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STATE

BANKING DEPARTMENT

REPORT OF THE COMMISSIONER

STATE OF MICHIGAN,

Banking Department,

Lansing, December 31, 1905. To the Honorable Fred M. Warner, Governor of Michigan:

I have the honor to submit the seventeenth annual report of this department in compliance with the provisions of section 43 of the General Banking Law of Michigan, as follows:

At the date of this report, there are two hundred and eighty State banks, five trust companies and one society for savings under the supervision of this department. In the statistics following the number of banks is given at 277 State banks. This is caused by three banks commencing business subsequent to November 9, the date of the last call for report of condition.

Statements showing the financial condition of all State banks and trust companies, as called for by this department five times during the year, and in addition thereto reports of the financial condition of the eighty-eight national banks of the State, are appended; as are also abstracts of the yearly reports for the past seventeen years, which show the progress and increasing wealth of the State.

B

NEW BANKS AND TRUST COMPANIES.

Twenty-five state banks and one trust company have been organized during the year, as follows:

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In compliance with section 10 of the banking law, the following banks have amended their articles of incorporation with reference to capital stock:

The Dime Savings Bank, Detroit, $200,000 to $250,000.
The Merchants & Miners' Bank, Calumet, $100,000 to $150,000.
The Home Savings Bank, Detroit, $200,000 to $400,000.
The Alpena County Savings Bank, Alpena, $75,000 to $85,000.
State Savings Bank, Ionia, $50,000 to $100,000.
The Eaton County Savings Bank, Charlotte, $50,000 to $100,000.
Zeeland State Bank, Zeeland, $25,000 to $35,000.
The State Bank of Gladwin, Gladwin, $20,000 to $25,000.
The First State Bank of Allegan, Allegan, $40,000 to $50,000.
The First State & Savings Bank, Flushing, $55,000 to $27,500.

The above exhibits a net increase of $407,500.00. Adding to this amount the increase in capitalization resulting from organization of new banks, $915,000.00, constitutes a total increase in capital stock during the year 1905 of $1,322,500.00.

VOLUNTARY LIQUIDATIONS.

Acting under the provisions of section 53 of the banking act the stock

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