Omaha Daily Bee Newspaper, April 25, 1909, Page 14

6 . STRONG BANKS Eight Hundred and Fifty, State and National, Doing Buiness at Present, OVER TWENTY MILLIONS CAPITAL Combined Deposits Reach a Grand | Aggreégate of $118,446,045. SHOWING BY VARIOUS COUNTIES | Banks Affected by New Guaranty Law Number 647. REQUIREMENTS OF NEW STATUTE \(-llsl t the Procedure Provided for Coming Under Guarinty Law and of Method of Pay- ing Depositors, Banks in Nebraska at cv aate, ewti- mated, 860, State banks, affected by guaranty law, 847, Capital stock paid in by state banks, $10,849,080. Deposits, $66,111,693. Wational banks, last report, 209. Capital stock paid in by national banks, 99,790,000, Deposits, $63,334,353, Amount of assessment on daily average deposits provided for by new law, up to levy of Jamuary 1, 1913, 1.1 per cent. Fossible emergency wment in any one year for immediate payment of depos- itors, 1 per cent. At the present time the number of banks doing business in Nebraska, national and state, Is about 0. Not all of the banks included in this number appear in the bankers' blue book, the last number 5f which is dated”May, 18, and the data for which was collected some months pre- viously. The state banks number 647, ac cording to the last tabulation of the sec- vetary of the state banking board, and the rest are national banks. On July 1 all of the state banks will come under the requirements of the new so-cailed guaranty of deposits law, passed by the legislature, which has just quit business. Whether any of the national banks will resign their charters in order to take advantage of the law, or to ward off its Inimical influence, Is problematical. Some few have done %0 in other states, where similar laws have been passed, and the like result may I noted here. In the light of this possibility, some statis- tics touching the banking business of Nebraska will be timely. February 6 190, when the last report of “the comptroller of the currency was made, the paid up capital of the national banks In Nebraska amounted to $,790,60; u$|v|ded profits totaled $1,28,818, and the o sits amounted to $52,334, Reserve Exceeds Requirement. Reserve required by law w 3,152 amount actually held in reserves was $8,657,135, or 1659 per cent, Cash on hand, | due from reserve agents, and in the re- demption fund, totaled 814,543,742, or 27.54 per cent. Of the national banks, eighty-elght have A capital of $25,000; seventy-one have $50,- 00; fifteen, $100,000; eight, $30,000 to $35,000; siX, $75,000; five, $50,000; six, $160,000; two, $200,000; t $260,000; one, $300,000; one, $400,000; two, $500,000; ome, $600,000, and one, $1,000,000. Douslas county, with nine banks, showed a pald up capital of $3,600,80; undivided profits, $3,711,000; deposits, $9,364,00. Lan- caster and Dodge are second and third, with $080,000 and $650,000 capital and $5,63 000 and $3,560,000 of capital and deposits, re- spectively. Madison county, with six banks, showed deposs of §1,943,000, Cuming county | also had six national banks, but it was | exceeded In total deposits by Adams, with three banks; by Gage, with five; by Buf- falo, with three; by Dawson, with five; by Otoe, with four; by Saline, with four. York had, at the time the biue book was {ssued, an even $2,000,000 of deposits in | seven national banks. The counties named, | following Douglas and Lancaster, all topped | the million mark in deposits, do also| Hall, Hamilton and Platte, There were' five counties, Burt, Cass, Nemaha, Phelps and Seward, with over $900,000 in deposits. Butler and Washington had better than $800,000 on deposit; Holt and Nuckolls had over $700,000 deposits; Box Butte, Nance, Polk, Saunders, Stanton, all had over $500,- 000 deposits. Lincoln, Pawnee and Thur- ston were each well over the half million mark, while the counties showing up with over $100,000 on deposit were: Custer, Dawes, Furnas, Jefferson, Knox, Red Wil- low, Richardson, Scott's Bluff, Sheridan and Wayne. Frontier, with one small na- tlonal bank, shows the smallest amount of deposits, $35,000. Twenty-one counties were worrying along without national banks, but these same counties had seventy-nine state banks. McPherson county had no bank of any kind. National Banks by Counties. Following is a tabulation, probably the first ever published in this form, of the number of national banks in the various counties of the state, with the total capital- igation, surplus and undivided profits, and deposits, as of date, approximately, Janu- ary 1, 198: as undivided County Banks. Capital, pro‘ie § 3000 § 50,000 186,000 100,000 125,000 35,000 50,000 175,000 176,000 150,000 000 26,000 25,000 5,000 100,000 255,000 5,000 75,000 175,000 0,000 650,000 3,600,000 25,000 50,000 Deposita. | Buffalo Burt Butler Cass Cedar Cherry Cheyenne Clay Colfax Cuming Custer Dawes Dawson Dixon e O DI 6 06 v e 0 0 Frontler Furnas Gage Hamliién Hharlan Hayes . Hitehcock Holt Howard Jefferson Jghnson Kearney Knox . Lancaster Lincoln Madison Merrick Nance Nemaha Nuckolls W00 18,000 15,600 198,000 330,000 21,000 110,000 38,000 131,600 | boara | reports when called for 3,00 16,000 12,700 16,000 92,000 Sheridan Eherman Stoux Stanton Tryer " 100,000 4,000 534001 o Washington Wayn Webster York | 461,00 200,000 2,000,000 50,000 200000 T.H0 State Banks Are Strong. Late figures from Secretary the State Banking Board show a pald cap- ital In state banks of $10,849,030; surplus and undivided profits, $2424.857; deposits, $64,- 111,698; loans, $55.716,674. Seventy-eight state ba capital; sixty have $10,000; have $15,000; fifty-three hav two have $25,000; twenty elght have $40,000; twenty-eight have $50,000; two have $76,000; four have $100,000; one has $150,000. Of banks having a eapitalization ranging between $5,000 and $10,000 there are 118; ranging between $10,000 and $15,000, thirty-six; ranging between $15000 and $20,000, elght, Douglas, Saunder 3 3 V 1 1 3 1 3 1 82 ome have $20,000; with $3,120508 of with $2,718,146, anh Lancaster, 617, Jead the line of banks sub- Jject to ‘assessment. Countles showing over $1500,000 of depasits are Butler, $1,554,061; ‘lay, $159.01; Colfax, §150898; Dodge, 3; © Willmare, . 1,768,835, Jefterson, ,98; Richardson, $1,743,969, Washini- ton, $1,631,285. The | codntiés showing over $1,00,00 deposits are Buffalo, Burt, Cass, Dixon, Furnas, Gage, Hall, Otoe, Seward, Thayer. Countles shiowing deposits of over $600,000, and some of them running close to the mililon mark, are: Adgms, Antelope, Boyd, Cedar, Cheyenne, Ciming, Dakota, Daw: son, Franklin, Frontler, Harlan, Holt, How- ard, Johnson, Kearney, Lincoln, Madison, Mérrick, Nemuba, Nuckolls, Pawnee, Plerce, Platte, Red Willow, Sarpy, Wayne, Webster, York. deposits; in Custer, Saline, deposits, five have $300,000, seven have %000 and seven have over $100,000. i amount of deposits over is in State Banks by Counties. Following is the last showing made by state banks as to capital, surplus and de- pusits: Number Banks. Capital. Surplus. Deposits 8§ 107,600 § 22,600 § 701,006 198,500 904,340 10,000 Adams Antelope Banner Blaine . Boone . Box Bul Boyd Brown Buffalo Burt Butler Cass Cedar Chase Cherry Cheyenne Clay Colfax Cuming Custer Dakota Dawes Dawson Deuel Dixon Dodge Douglas Dundy Filmore Franklin | Frontier Furnas | Gage Gartleld Gosper Grant Greeley Hall N Hamilton Harlan . Hitcheoce Holt . Hooker Howard Jefferson Johnson Kearne Kelth Keya Paha Kimball Knox .. Lancaster . Lincoln Logan BueeaeSSaownanmaamm BramnB BB, 5 @ ra00 il Sped Merrick Nance emaha Nuckolls Otoe Pawnee Perkins Phelps Plerce Platte Polk R Boam Willow ichardson Rack aline Sarpy Saunders Scott's Blu Seward Sheridan Sherman Sioux . Thayer Thomas Thurston Valley Washington, Wavne Webster Wheeler York 106,192 251,868 1,67.985 R8T 91900 $10 50 00 2 408 New Banking Board. TUnder the new law the state hanking board consists of the governor, the state auditor ‘and the attorney general, but the governor makes all appointments, viz.: secretary at $3,000 a year: a clerk at §1.500: ope. other assistant, If necessary, ng shlary specified: also “person or persons® as examiners, at $1,80 per year each and expenses not to exceed $1,000 a year each Each bank must be examined at least twice a year, and “as often as shall he’ dcemed necessary ané proper.” Thus the minimum number of examinations pro. vided for is about 1,300, with the number Totals 7 $60.111,60 { of banks stdnding as at present, but new pnes are being continvally crganized Fees to be paid for examination, to state nks with capital of $15,000 or les than $15,000 and less than §30,000, and less than $100,000, $30; $150,000 , $50; such fees shall be pald not oftener than twice a year. The minimum capital provided for state banks 1s $10,000; in towns with 100 popula tion and le towns of 500 and less than 1000, not less than $20,000; towns of 1000 to 2,000, $25.000 towns of 2,000 to 5,000, $35.000; towns of 5000 to 2,000, $50.000; towns of 25,00 to 100,00, $100,000; towns of 100,000 or more, $200,000, For savings banks, the minimum paid up capital must be $15,000; in cities of 50,00 to 100,000 population, $35,000; in cities ovel 100,000, $75,000, Fees for charters, to be pald to the stats board, are: F $25; for capital for more than $25,000 and less than $50,000, $25, and 5 cents for each $1,000 over $25,000; for capital of over $50,000, 33750, and % cents for every $1.00 $25,000. over Must File Statements. thority must within sixty All banks under stat file with the panking boar | days of the dhte, when the act goes into | etfect, which will be July 1, & statement of thely condltion. 'They must also make four reports vach yéar to the board. and special A fine of ¢ day is provided for those who fail to make reports when called for; and the making of & false statement is made a felony, which snall be punished by a fine of not less than $100, or imprisonment in the penitentiary for not less than one mor more than five years. For violation of the gvneral a | provisions of the law a fine of 3% a day 250,000 | el Royse of | Four counties have well over $400,000 in | than 500, not less than $15,000; | THE OMAHA ‘SUNDAY BEE: APRIL 25, 1909. during the continuance of such violatioh provided, and such violation Is to be cause for the appointment of & receiver ,to | wind up such banking business. | Where the appointment" off a recetve deemed ddvisable, the banking board com- municates the f s to the attornep gen eral, who will cause application to be made | to the court of the district In which the delinquent bank located or to a judge of the supreme court; but district courts | control the administration of the recelver ships. It is sufficient to show the truth of any of the facts enumerated in the law as cause for appointment of a recelver. | Under the supervision of the nking | board, the directors may restore u&' pital and credit of the bank and be allowed to | resume. However, If the receiver Is dered to proceed, the court will fixe tme for filing claims, not mere than smy} days from date of order. A receiver must | make at least one monthly report to the | board Creating a Guaranty Fund. | The law goes about thé creation of a de- | positors’ guaranty fund in this manner Within thirty days after it becomes ef- | fective, and on the 1st of December, 4909, | and every first of June and December | thereafter, the banks shall make a state- | ment showing their ¢ ge dally deposits | for the preceding six months, exclusive of public moncys otherwise secured; then: | On the first day of the month next suc- | ceeding the date for making and filing such statement, the board will levy E\A-I sessments against the capital stock of each bank as follows: Within sixty days of the taking effect of the act, one-fourth of 1 per cent of average daily deposits as shown by first statement file On the 1st day of January, 1910, one- fourth of 1 per cent of average daily de- posits as shown by statement filed Ist day of December, 1900; On the 1st day of July, 1910, one-foufth | of 1 per cent of avepswe dally deposi shown by statement filed 1st day of June, | 1910; On the 1st day of January, fourth of 1 per cent of posits as shown by cember 1, 1916; And on the Ist day of July and January of each year thereafter one-twentieth of | 1 per cent of average daily deposits as shown by last statement filed Thus 1.1 per cent of the average deposits of state banks will be paid into the de- positors' guaranty fund by January 1, 1912, The fund so created is to be held by the various banks, as their proportion may | be, and is to be payable to the’banking board on demand. Banks" organized subse- | | | )| 1s 0 ) ) ) 0 or- | al | | the the 1911, one- | average daily de statement filed De | quent to the taking effect of the act are to pay in 4 per cent of capital stock. to adjustment later on av deposit basis. Procedure in Liquidat In case of a bank failure, or closing of | doors for any cause, the receiver will pro- | ceed to colleét all the money possible, and | on order of the court may sell or com- pound all bad or doubtful debts, except the llability of stockholders, officers or direc- tors; and it is provided that a majority of the.latter shall reside in the county where the bank is situated, or in an ad- Joining county. Claims for deposits and clalms of hold- ers of exchange are to have priority over all other claims, except ~Tederal, state, county or municipal taxes, and will con- stitute a first llen after said taxes; and shall be pald immediately out of the avall- able cash in the hands of the receiver. If cash is insufficlent, the court shail de- termine the amount necessary. to’ supply the deficlency, and certify the same to the banking board, which shall draw on the guaranty fund, by. drafts pro-rated among the solvent banks holding the fund, and ‘send the amount. to the receiver, Should the guaranty fund be reduced or depleted from any cause prior to July 1, 1910, to an _amount ‘less than one-Ralf of 1 per cént'of dverage dally deposits, or subsequent to July 1, 1910, be depleted. or reduced to an amount less than 1 per cent of the average daily deposits, as shown by last semi-annual statement, the banking board shall levy a special assessment on the capfal stock of the banks, to be based on the average daily deposits. When re- quired for the purpose of immediate pay- ment of depositars, such spec assess- | ment may be for any amounty not ex- ceeding 1 per cent of the average deposits in any one year. EXPLORER'S FINDS IN CHINA Traversing the Great Wall and Ex- periences Among the Plgmies. sub- o daily Back from an extended trip of exploration in China and Tibet, in the course of which he made Interesting discoverles along the Chinese great wall, Dr. Willlam Edgar Gell of Doylestown, Pa., arrived in New York on the steamship Minnehaha Dr. Doyle traced the great wall through its entire distance, from the coast to the { northern border of Tibet, discovering about 200 miles of the structure that had not yet been mapped. He sald he had found evi- | dences o1 the existence of at least ten great | walls, apart from the famous one, and con- | | firmed reports of the existence of a wiid | {race of Chingse pygmies in the northern | | mountains, where they had dwelt for! | twenty centuries. i his was the first time a white man had | traveled the entire length of the wall, Dr. | \Gell explained, and he believéd it was the | | first time any had done { “We had an expedition of about twenty- | five me: he sald, “and did most of our traveling witn pack mules, starting in May, 198, from Bhan Hia Kuan, where the great wall has one of its ends, dipping into the Yellow sea. The other end of the | at Kian Yu Kuan, north of th mountain range, tember. We great wall he one 50, | wall is n Shan | which we reached in Sep- discovered about 30 miles of that had not been” charted. | distance between the two ends of | the great Wall is about 1,250 miles, but our whole trip was about 18500 Our | Journey took us into Tibet, where I fell | 1l and had to be carrled along by my men | | for several days.” Speaking of the strange race of pygmles, he said that Chinese legends regarded them as descendants of a which was en- gaged In the laborigus work of building | the wall centurles ago. “The legend says that a certain people | Were unable to stand the abuses of the miles. race | ¢ a capital of $25,000 or less, | Masters In the bullding of the wall,” added | were named | Dr. Gell, “and fled Into the country outh | |of the wall, and that the laborers, when | they would fall exhausted from their | deavors, would be thrown Into the |'structure and be burled there.’ Members of the expedition had no serious | fights wigh natives, but extreme care was | necessary at many times to prevent trouble They met Chinese who sald’ they had | mever seen white m Along the { six or seven main varieties of the Chinese {1anguage were spoken, and there were va: | riatlons of these varieties, but the Chinese Interpreters with the party were able to |talk with any of the natives encountered | =New York Post. wall | The that Pays. “Young man, go into the summer drink business If you want to retire a million- alre,” said Albert W. Braisted of Boston at the Arlington. “I know one man who started twenty years ago with a capita f | There wail | ever afterward nited States National Bank The OF OMAHA, NEBRASKA UNITED STATES DEPOSITORY Capital, $600,000 Surplus and Profits, $600,000 Comparative Statement of Deposits, 1883 to 1909 1883, $606,737.13 1888, $1,794,916.20 1893, $1,766,640.35 1898, $1,908,961.79 1903, $4,171,907.97 1906, $9,075,393.33 1909, $11,000,000.00 OFFICERS: M. T. BARLOW, President. G. W. WATTLES, Vice-President, V. B. CALDWELL, Vice-President. A. MILLARD, Vice-President, W. E. RHOADES, Cashier. G. E, HAVERSTICK, Assistant Cashier. R. P. MORSMAN, Assistant Cashier. 0. F. BRINKMAN, Asst, Mgr. Credit Dept. DIRECTORS: C. W. LYM " Vice President Nebraska Telephone Company. EUCLID MARTIN, A. MILLARD, Vice President United States National Bank. M. MORSMAN, Treasurer Nebraska Telephone Company. A. L. REED, President Byron Reed Company. W. E. RHOADES, Cashier United States National Bank. M. T. BARLOW, ited States National Bank. B. F. SMITH, of Smith Brothers, New York and Omaha. W. A. SMITH, Treasurer and General Manager Omaha and Council Bluffs Street Railway Company. G. W. WATTLES, Vice President United States National Bank; President Omaha and Council Bluffs Street Railway Company. President Omaha Grain Exchange. C. E. YOST, Pregident Nebraska.Telephone Company. President S. 8. CALDWELL, of Coal Hill Coal Company. V. B. CALDWELL, Vice President United States National Bank. E. A. DUFF, President Duff Grain Co., Nebraska City, Neb. THOS. A. FRY, President Fry Shoe Company. The United States National Bank of 6maha Invites the Accounts of Banks, Corporations, Firms and Individuals ] Capital $200.006 Surplus and Profits $100,000 HAYDEN BROS. BANKERS Incorporated Dec. 24. 1906. Capital. . $100,000 Deposits. $350,000 UNITED STATES DEPOSITORY rska National bank OF OMAHA This bank was started as an adjunct to the Hayden Bros Department Store, for the accommo- dation of store customers only; many outside de- posits have been tendered, and so often, that it has decided to reorganize the Bank, increase its cap- ital, occupy a building used for banking only, and change its name to CORN EXCHANGE BANK AUTHORIZED CAPITAL $500,000 PAID UP [not less] $250,000 These changes will take effect June 1st, 1909, or as soon thereafter as practicable. H. W. YATES. President WARREN SWITZLER, Vice-Pres. W. E. SHEPARD, Cashier H. W. YATES, Jr., Asst. Cashier It will transact a Commercial Banking Busi- ness, and solicits all business in that line. ; i 3 e and sold | of $%. The first year he made an only sixty gallons of a certain drink of Which last year morc than 1,000,000 gallons were dlsposed of. In twen man who started with $# ncw carns on summer drink more than $1,000,00 e “He bullds every twelve months a gredt | bullding in s of the big cities of hia profits. And his business 3 y ye here 1s & swing larger every year X lendous profit in it, for stuff that he sclls to the soda fountaln for Ha satlon costs him about §1.50 s, the summe arink b #s, If one gets v‘l.l‘h“l.‘h better almest any manufacturing b than Al “this country more than 100 persons who manufacture summer drinks P mmense quantities. All of them are accumulating, or have already accumula fortunes. Get In the summer dr ness If you want to roll in wealth ington Post Naming o Kansas River. Practically all the streams In Kansas by Indlans and carry those though in an Anglicized | Oldest Agenoy in the City stablished 1867 D. B. WELPTON, Pres. D. H. WHEELER, Vice-Pres. WHEELER @ WELPTON CO., Inc. INSURANCE FIRE HEALTH BONDS TORNADO BOILER ACCIDENT BURGLARY LIABILITY PLATE GLASS AUTOMOBILE L) PHONE DOUG. 186 15th and Douglas Streets: 2nd Fleer Creighton Block OMAHA, NEB. ! CEKTIFICATE OF PUBLICATION. CERTIFICATE OF PUBLICATION. . STATE OF NEBRASKA OFFICE OF AUDITOR OF PUBLIC ACCOUNT LINCOLN, February 1, 1909, It Is Hereby Certified, that the Royal Insurance Company of Liverpool, England, has complied with the Insurance Law of this State, applicable to such Companies and is therefore authorized to continue the business of Fire Insurance in this State for the current year ending January 31st, 1910, Witness my hand and the seal of the Auditor of Public Accounts, the day and year first above written. HERBERT WHEELER, Trea e GEU. C. COOFPER, S nis | with part Diligent Attention Given the Best Interests of i Our Patrons usi- —Wash- names to this day form The the largest stream in south- has its own little y The | ¢ Nans at one time lived in.Mis- | sour], and when they began talking of trad'ng their lands In that sta and mov ing to southern Kans: a party was sent out to 1ook the country over and mike a report on it. It was in the summer time ‘and very hot and dry. Coming over vie northeast of Humboldt, they d a long ay to trav:l without water “When arrived at the river,' says ran of Oswego, n Indian sloping bank Ipto the water h's surprise, the horse stepped lght off into deep water, and the hors: and Indian went in all ver As the aborigine clambered back on the bank. h“i muttered, ‘Wugh Neosho.' This, in plain English, means water pocket, 'or water hole, and the me clung to the hlredn\‘ Neosho, 8 TE OF NEBRASKA OFFICE OF AUDITOR OF PUBLIC ACCOUNTS LINCOLN, February 1, 1909, It Is Hereby Certified, that the Commercial Union Assurance Company of London, England, has com plied with the Insurance Law of this State, appli- cable to such Companies and is therefore authorized to eontinue the business of Fire Insurance in this State for the current year ending January 31st, 191¢ Witness my hand and the seal of the Auditor of Public Accounts, the day and year first above written. SILAS R. BARTON, Auditor of Public Accounts, C. E. PIERCE, Deputy, SILAS R. BARTON, Auditor of Public Accounts. C. E. PIERCE. Deputy, —Hutchinson News. Bigger, Better, Busler—That's what ad- vertising in The Bee does for your | business. (Seal) (Seal)