BANKING. FREE BANKS. the Cincinnati Gazette.) deposited, Notes issued, and Description of State Stocks, 11,181 4,560 None. 7,357 3,243 None. 36,327 31,233 2,194 4,682 1,846 11,999 30 None. 75,000 65 .... 133,400 22,56 10,000 .... Description of Stock. $517,681 Indiana 5 & 22 per cents. Ohio 6 per cents. 87,210 Indiana 5 per cents. Missouri 6 per cents. 119,933 Indiana 5 & 2 per cents; Virginia 6 per cents. 109,314 Indiana 5 &21⁄2 per cents. 60,000 Indiana 5 per cents. 100,000 Indiana 5 p. cts, Pennsylvania 5 p. cts, Virginia 6 per cts: 62,566 Indiana 5 & 22 per cents, Georgia 6 per cents. 100,000 Indiana 5 per cents and Virginia 6 per cents. 70,000 Indiana 5 per cents, Missouri 6 per cents. 81,250 Virginia 6 per cents, Kentucky 6s, Indiana 5 & 2% per cts. 100,000 Indiana 5 per cents and Missouri 6 per cents. 190,000 Virginia 6 per cents. 50,000 Indiana 5 per cents and Missouri 6 per cents. 320,000 North Carolina 6 per cents and Louisiana 6 per cents. 150,000 Indiana 5 & 21⁄2 per cts, Missouri and Louisiana 6 per cts. 63,512 Indiana 5 & 24 per cents and Virginia 6 per cents. 155,000 Indiana 5 p. cts, Virginia 6 per cts. Louisiana 6 per cents. 139,000 Virginia 6 per cents. 170,000 Missouri 6 p. cts, Va 6s, Louisiana 6s, Tennessee 6 per cis. 236,000 Virginia, Georgia and Kentucky 6 per cents. 114,000 Pennsylvania 5 per cents, Louisiana 6 per cents. 120,900 Virginia and Ohio 6 per cents. 110,000 Indiana 24 & 5 p. c., Penn. 5s, Tenn. 5s, Louisiana 6 P. cts. 51,623 Louisiana 6s, Ind. 5 & 2 p. cts, N. Carolina 6s, Tenn. 6 p c. 49,985 Missouri and Louisina 6 per cents. 195,000 Virginia 6 per cents. 73,000 Pennsylvania 6 per cents and Indiana 5 per cents. .... .... .... .... 14,000 100,000 Virginia 6 per cents. 87,152 Indiana 5 & 24 per cents, Missouri and Virginia 6 per cents. 35,496 Missouri 6s, Ky. 6 p. c., La. 6s, Georgia 6 p. c., Ind. 5 p.c. INDIANA (Conti (Prepared expressly for Statement showing No.,; Names, Location, Capital, Stocks Rockville, 300,000 50,000 Indiana Reserve Bank .......... Brookville Bank. ...... ........... Totals...... Kokomo, 300,000 47,996 Rensselaer, 250.000 52,000 Huntington, 300,000 50,000 Brookville, 100,000 85,000 $32,900,000 $8,104,166 NOTE. The Pennsylvania 5 per cents, are received for a pasis at The State has and will be purchasing this class of Stocks at 62 for liquida and will soon return a larger amount. Many of the Banks are retiring their circulation, and since this was made out, is going on. NOTE. Copied from Supplement to FREE BANKS. nued.) the Cincinnati Gazette.) deposited, Notes issued, and Description of State Stocks, Description of Stock. 75,000 Louisiana and Virginia 6 per cents. 100,000 Louisiana 6 per cents. 50,000 Carolina and Virginia 6 per cents. 41.200 Do Do 100,000 North Carolina and Virginia 6 per cents. 75,400 Indiana 2 per cents. 50,000 Kentucky 6s, Tennessee 6s, Indiana 5 per cents. 97,414 Georgia 7 per cents, Carolina 6 per cents. 124,995 Indiana 5 & 2 per cents, Virginia 6 per cents. 300,000 Virginia 6 per cents. 49,218 Pennsylvania 5s, Indiana, 5 per cents. 105,000 Virginia 6 per cents. 50,000 Louisiana 6 per cents. 47,996 Virginia 6 per cents 52,000 Louisiana 6 per cents. 50,000 Virginia 6 per cents. 85,000 Virginia 6 per cents, Indiana 5 per cents. $686,881 $7,426,067) JOHN P. DUNN, Auditor of State, Per W. H. McDONALD. do 83 to 85 pers cents. Indiana 21s, do at 50 to 55 do. tion. We have also paid off over $100,000 of the principal of our State debt, $100,000 circulation has been returned, and Bonds taken up. the Railroad Record-Sept. 7., 1754. Every day this J. P. DUNN. Illinois Banks. We have delayed to notice the progress of "Free Banking" in Illinois for some time under an expectation that we should obtain the report of the commissioners made some two months ago, but failing to get that report, we publish the following notice of it from the Allon Telegraph: ILLINOIS BANKS-COMMISSIONERS' REPORT.-We have just received the annual report of the Bank Commissioners, in regard to the affairs and business of the Banking Associations of the State, made in compliance with the requirements of the General Banking Law. The report is an interesting and valuable document; and if its statements are correct, it shows that the Banking Institutions of Illinois are generally not only in a prosperous and flourishing condition, but that they are conducted with much financial ability, and compare favorably with those of any State in the Union. Since the adoption of the General Banking Law, thirty-one Banks or Banking Associations have been established, with an aggregate capital stock of $17,360,000, on which have been deposited public stocks to the value of $2,650,987.72. Two of this number, however the Bank of Lucas & Simonds, Springfield, and the City Bank, Quincy-have closed their operations, and are now being wound up; several are just commencing business, and their operations are yet rather limited. The following table will show the aggregate resources and liabilities of the twenty-nine banks now in operation : RESOURCES. Amount of public stocks at the rate received.......$2,475,741 62 Amount paid for stocks over the received value.... Real estate... Notes of other banks on hand.... 196,162 13 31,158 22 358,339 45 Amount of debts owing to banks.. 1,368,203 68 Specie on hand...... Loans and discounts.. Deposited with other banks. Expense account.... Checks, drafts and cash items.. Total resources 565,152 04 316,841 76 876,612 58 24,874 97 63,892 41 .$6,305,978 86 LIABILITIES. Capital stock paid in...... Amount due depositors...... Amount of debts owing by banks. Profit and loss account .$2,513,790 17 294,034 50 1,286,102 25 71,787 00 Total liabilities...... $6,449,239 92 The Commissioners make a number of suggestions, in regard to the practical operation of the law, bank taxation, and other defects which need to be corrected. It seems that under the present revenue law, some of the bank corporations manage to escape their proper taxation, by shielding their active capital, and consequently pay tax only upon their bonds deposited with the Treasurer. Of the thirty-one banks in operation, only nine, among which is the Alton Bank, make return of their loans, discounts, bills purchased, &c., upon which taxes are assessed in addition to their stock deposits. The remaining twenty-two make no such return, and consequently pay taxes upon their deposits only. The Commissioners, in view of this inequality, recommend that the taxes be transferred from loans, discounts, &c., and be placed upon the circulation. The Commissioners state that the General Banking Law discriminates unfavorably as regards Illinois stocks, and recommend that these stocks be considered more nearly in their relation to their market value, as a deposit, than the law at present permits. The circulating notes of our own banks, as yet, sustain but a very limited relation to our entire currency circulation, perhaps not more than three-tenths. This disproportion will, however, gradually diminish, as our domestic issues find their way into the State, from the distant points where they were originally put into circulation. Of the remote or foreign paper which makes up the residue of our paper circulation, a portion rests upon a stock security basis for its redemption, while a large proportion rests upon a foundation always liable to suspicion. The Commissioners think that the Banks have generally observed, what is usually denominated the Small Bill Law, in their business transactions. The effect of this law, in those localities where it has been observed, has, without doubt, tended to force small foreign notes from circulation, but its observance has not been so general throughout the State as was expected, or at least hoped for. Some of the banks, with a view to meet the demand occasioned by the withdrawal of foreign small bills, have increased their aggregate issue of small notes, and withdrawn those of a larger denomination. Still, there is much embarrassment attending the want of small change, owing to the scarcity of specic. |