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State Banking Department

STATE OF WISCONSIN.

MADISON, Wis., December 12, 1906.

To the Honorable JAMES O. DAVIDSON,

Governor of Wisconsin.

Sir: The twelfth annual report of the state banking department submitted herewith exhibits the condition of four hundred and four state banks, two mutual savings banks and eleven trust companies operating in this state on November 12th, 1906.

Twenty-three state banks were organized and chartered during the year covered by this report, and seven banks have left the jurisdiction of this department; the net gain, therefore, in the number of banks operating is sixteen. The list of the new banks follows, to-wit:

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The following three banks surrendered their state charter and re-organized as national banks, to-wit:

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Bank of Park Falls, capital $10,000.00, on August 24th, 1906, consolidated with the Park Falls State Bank.

CAPITAL STOCK.

Twenty-four state banks increased their capital from an aggregate of $775,000.00 to $1,287,000.00, the amount of the increase being $512,000.00, as shown in the following list, towit:

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The Necedah Bank, of Necedah, Juneau County, reduced its capital from $25,000.00 to $15,000.00, consent to such reduction. having been given under section 13, chapter 2 of the banking law.

The summary of gain and loss in the capital stock is presented in the following table, to-wit:

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Being a net gain of $762,000.00 in capitalization during the twelve months.

At the same time the surplus fund has grown from $2,499,905.99 to $3,018,749.33, an increase of $518, 843.34.

It may be interesting to note, in this connection, that under the operation of the banking law of 1903, which permitted the organization of banks in small communities with a minimum capital of $5,000.00, and until the law was amended in 1905, requiring a minimum capital of $10,000.00, sixty-three banks were organized with less than $10,000.00 capital. While the amendment does not compel banks theretofore organized to increase their capital, it establishes a new criterion and the tendency to voluntarily increase the capital is marked. At present there remain fifty-one banks having less than $10,000 capital.

REPORTS.

Abstracts of the five reports cailed for during the year from state and savings banks and abstracts of the annual reports for the last twelve years afford an interesting comparison of the growth of the business. They are submitted in Tables "A" and "B" which follow:

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