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. In order to show the banking facilities of the State, and the amount of business transacted by both State and national banks during the year, I have prepared the following abstract of reports made December 2, 1891. 8,740,163 60 853,877 34 74,200 00 2,274 38 $70,555,261 76 $135,747,234 20 I have approved the following as reserve cities, viz.: Detroit, Grand Rapids, Saginaw, Bay City, Kalamazoo, Jackson, Muskegon, Lansing, Hillsdale, Adrian, Port Huron, Marquette, Chicago, Milwaukee, St. Paul, Minneapolis, Kansas City, Cleveland, Cincinnati, Toledo, Pittsburgh, Buffalo, Boston, Philadelphia, Washington and New York. Sections 24 and 27 of the banking law provides that State banks may keep a portion of their reserve with banks, national or State, in cities approved by the Commissioner as reserve cities. This has had a tendency to mass deposits in these cities, and I therefore present herewith an abstract of the business of the banks in the four largest reserve cities in the State, viz.: Detroit, Grand Rapids, Saginaw and Bay City. |