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When the banking law went into effect, the Commissioner found several banks that were embarrassed by doubtful investments, and whose capital was impaired by losses and bad debts, which have since been made good, and they are now in a flourishing condition.

Two or three banks are still contending with unprofitable investments, and cumbered with property involuntarily acquired previous to the adoption of the present banking law, which under the provisions of section 34, they are gradually working off, or changing to other investments.

Very much has been accomplished in this respect during the past year, and we have been assured and have reasons to believe, that more will be effectuated during the year to come.

Aside from the two or three banks above referred to, the State banks of Michigan are in a prosperous condition, and entitled to the respect and confidence of the public.

That the people are satisfied, and have respect for the banking law, is evident by the increasing demand for banking institutions, and the increase in the volume of business as shown by the following coni parative abstract of the December reports of the State banks in Michigan for the years 1889, 1890 and 1891, as made to the Commissioner of Banking:


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$7,254,559 10
1,132,329 90

$8,460,835 00
1,502,849 44
1,912,300 21

$9,522,420 00

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Surplus fund.............

Undivided profits.

1,679,925 61

1,704,248 31

2,169,532 72

Dividends unpaid.......

2,571 63

6,234 60

2,158 87

Individual deposits...

7,879,586 71

9,300,393 00

11,750,841 68

Certificates of deposits

4,452,081 74

6,054,724 25

6,746,187 18

Savings deposits...

23,669,030 20

27,779,136 09

31,186,303 14

Certified checks......

29,987 61

40,450 98

37,541 35

Cashier's checks outstanding...

21,097 57

5,802 67

30,594 71

Due to banks and bankers...

809,678 07

1,325,103 87

1,599,224 96

Notes and bills re-discounted.

386,429 76

517,866 12

391,719 61

Bills payable...

37,000 00

44,700 00

51,200 00


$47,354,277 90

$56,950,395 68

$65,191,972 53

Through the courtesy of Hon. E. S. Lacey, Comptroller of the Currency, I present you herewith an abstract of the December reports of the national banks of the State of Michigan, as reported in 1889, 1890 and 1891.

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For the purpose of showing the growth of the banking business of the State for the past two years, I present here with a comparative abstract of reports of incorporated banks, as made in December of the years 1889


Four times during the year, on passed days unknown to the officers of the several banks, I have called upon them to report to me their condition as shown by their books, May 4, July 9, September 25, and December 2. An abstract of these statements are presented herewith, and are given in detail in the succeeding pages of this report.

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