Total fees turned over to State Treasurer for the year 1922... $104,171.00 4,480.00 $108,651.00 Franchise and filing fees turned over to the Secretary of State...... Total Departmental receipts, 1922.. During the year 1922 the expenses of the Department were as follows: L. R. Barnes (appointed assistant examiner July 11, 1921, appointed examiner July 15, 1922) ... 1,937.77 B. F. Bernsteine (resigned November 11, 1922) 2,073.94 W. E. Birmingham (appointed assistant Examiner April 11, 1921, appointed examiner November 15, 1922) 1,837.47 S. S. Clark 2,450.00 F. A. Cuthbertson (appointed assistant examiner November 3, 1920, appointed examiner February 15, 1922) 2,061.70 J. A. Daugherty (appointed assistant examiner February 1, 1921, appointed examiner April 1, 1922, resigned July 1, 1922).. L. G. Kirby (appointed assistant examiner August 1, 1921, appointed examiner July 1, 1922) 1,950.00 H. C. Knickerbocker (appointed assistant examiner November 14, 1921, appointed examiner September 1, 1922) J. F. Martin (appointed assistant examiner May 15, 1920, appointed examiner August 15, 1922) 1,537.51 H. A. Millard (resigned May 5, 1922, re-appointed July 5, 1922). L. C. Van Auken (appointed assistant examiner Jan. 1, 1920, appointed examiner March 15, 1922) 1,838.30 C. L. Van Frank (appointed assistant examiner August 30, 1920, appointed examiner February 15, 1922) A. W. Harty (appointed assistant examiner September 11, 1922) 547.89 959.34 1.800.00 W. R. Lobdell E. C. Reid (appointed assistant examiner April 3, 1922) 1,800.00 1,489.01 577.23 1,655.00 The net cost to the State in 1922, for its present system of bank supervision is, therefore, $53,045.05. STEAMSHIP BONDS APPROVED BY THE SECURITIES COMMISSION. The following table shows the steamship bonds which are legal investments for savings deposits of state banks at the date of this report: I submit the following table for the purpose of showing that the absolute separation and segregation of savings deposits and investments has not retarded or restricted in any way the commercial business interests of the state. Dec. 31, '21 $479,294,586.58 $490,920,757.30 $258,515,485.43 $346,439,622.35 $123,889,819.00 An analysis of the above shows conclusively that the commercial needs of the state have not been restricted on account of the operation of the law. The report of September 15, 1922, shows that commercial or business needs were amply supplied. State banks on that date had discounts of this character in the savings department aggregating $87,996,599.80, notwithstanding the fact that they could if necessary, have availed themselves to the amount of $127,869,784.00. MEMBER BANKS FEDERAL RESERVE SYSTEM. There are 164 state banks which are members of the Federal Reserve System, with aggregate resources of $718,938,941.56 upon December 29, 1922, which evidences 67.163 per cent of the total resources of state banks in Michigan upon that The Federal Reserve Act provides that state bank members shall retain their statutory state right after becoming a member of the Federal Reserve System, and the reserve requirements of member banks are governed-after they become such members-by the Federal Reserve Act, rather than the provisions of the state banking law. The Federal Reserve Act provides that the Federal Reserve Board may accept in lieu of their own examinations of member state banks, the examinations made by the respective state departments having supervision over them. The examinations of this department have been accepted without question by the Federal Reserve Board. State Savings Bank. First State Bank.. Farmers and Merchants State Bank. Pinney State Bank. Cass County State Bank. Eaton County Savings Bank Kempf Commercial and Savings Bank. Peoples Savings Bank. State Bank of Croswell. First State Savings Bank. American State Bank. Bank of Detroit. Central Savings Bank. Commercial State Savings Bank. Detroit Savings Bank. Dime Savings Bank.. First State Bank of Detroit. Old State Bank... Fennville Citizens Commercial and Savings Bank. Flint Flint Flint ...Flint Genesee County Savings Bank. Industrial Savings Bank... Union Trust and Savings Bank. Peoples State Bank. Bank of Fountain. Frankenmuth State Bank. Old State Bank of Fremont. Commercial State Savings Bank. First State and Savings Bank. Merchant and Miners Bank. Jackson State Savings Bank. Lake Odessa State Savings Bank. Commercial State Savings Bank. Farmers and Merchants State Bank. State Savings Bank... Macomb County Savings Bank. Ludington State Bank. City State Bank. Peoples Bank Union Savings Bank.. Manistee County Savings Bank. Manistique Bank.... G. W. Jones Exchange Bank. First State and Savings Bank. Chemical State Savings Bank. Farmers State Savings Bank. Farmers State Bank. Wakefield State Bank. Ullrich Savings Bank. Grand Rapids .Hart Highland Park .Iron Mountain . Manchester .Mason ..Mason Menominee .Midland .Milan Milford Milford .Monroe . Montague .Morenci Mt. Clemens Isabella County State Bank. .Mt. Pleasant Exchange Savings Bank.. Mt. Pleasant Nashville New Haven ...Niles . Northville . Onsted .Paw Paw .Petersburg Petoskey Pinconning Pontiac ..Pontiac .Port Huron ..Redford Rochester .Rogers .Romeo Royal Oak .RoyalOak Saginaw Saginaw . Saline ....Saugatuck Sault Ste. Marie Sault Ste. Marie ....Sebewaing .South Haven .South Range ...Sparta Spring Lake .St. Charles ..St. Clair Suttons Bay .Tecumseh .Tecumseh Traverse City .Vicksburg Washington Wayne Williamston REPORT OF RECEIVER. THE E. JOSSMAN STATE BANK, CLARKSTON. Elmer E. Webster, receiver, under date of December 31, 1922, reports as follows: Total assets at date of and received since suspension.. Amount collected by receiver to date DISPOSITION OF COLLECTIONS. Loans paid and other disbursements Dividends paid Receiver's salary paid to date $188,846.95 159,472.47 $10,907.24 125,575.69 Legal expenses paid All other expenses paid Balance in hands of State Treasurer Balance in hands of receiver Total REPORT OF RECEIVER. 5,550.00 500.00 3,190.27 139.11 13,610.16 $159,472.47 THE FIRST STATE SAVINGS BANK, MARCELLUS. J. N. Bilderback, receiver, under date of December 31, 1922, reports as follows: |