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OFFICE OF THE BOARD OF BANK COMMISSIONERS,
To the Honorable the Legislature of the State of California:
In our "First Annual Report" to the Governor (printed copy of which is sent herewith and made a part of this report), we gave a history of the most important acts done by the Commissioners from the date of their appointment (May 16th, 1878,) to the 30th day of June, 1879. The present report will, therefore, only cover a period of six months, beginning with the 1st of July, and ending with the 31st of December, 1879.
THE NUMBER OF BANKS AND SAVINGS BANKS.
The same number of banks and savings banks reported their condition on the 30th of June, 1879, as on the 31st of December, 1878, namely: sixty commercial banks and twenty-three savings banks. While the number of the latter remained the same, there was the following change:
The Farmers' Savings Bank of Stanislaus County, doing business at Modesto, having wound up its affairs prior to June 30th, did not report.
The French Savings and Loan Society, at San Francisco, having reorganized with a capital stock March 11th, 1879, reported its new business on the 30th of June, and received a license.
The five suspended savings banks did not report, and, owing to the ambiguous language of the Bank Commissioners' Act, it is doubtful if they are any longer under our jurisdiction to any useful extent.
EXPENSES OF THE COMMISSION FOR THE SECOND YEAR.
The amount to be collected from the banks for the second year's expenses of the Commissioners was $13,400, viz.:
This was $500 less than the first year, that amount having been allowed for the purchase of furniture, etc., for the office
ASSESSMENTS FOR BANK LICENSES.
To meet the expenses of the first year, an assessment of 144 cents on each $1,000 of deposits, as of December 31st, 1877, was paid by the banks (see report to Governor, p. 6.) Owing to the retirement of the five suspended savings banks a great decrease in deposits took place, and the assessment for the second year, although $500 less was collected, had to be fixed at 163 cents on each $1,000 of deposits, as of the 31st of December, 1878. On the 1st of July, 1878, eighty-four banks, in all, took out licenses, viz.: twenty-eight savings banks and fiftysix commercial banks. The number of the former, to whom licenses were issued on the 1st of July, 1879, was twenty-three, and of the latter sixty, a decrease of five in the number of savings banks, and an increase of four in the commercial banks. For particulars of the names and amounts paid by each, reference is made to the tables in the Appendix.
BANK REPORTS, JUNE THIRTIETH, EIGHTEEN HUNDRED AND SEVENTY
We are glad to note a marked improvement in the accuracy of the reports received from the banks in July last, not many requiring to be returned for correction. During our examination of the banks, we have shown, practically, how their reports should be made out, and there is no excuse for any mistakes hereafter. The request made in our former report is repeated here: that the banks will send in their semi-annual statements early in January and July, and not wait, as many of them do, until the last days of those months, just in time to escape the $100 per day penalty. It will greatly facilitate our labors if this request is complied with, and enable us to prepare tabular statements from the semi-annual reports, before their interest and value are lessened by lapse of time.
The following is a summary of the assets and liabilities of the banking institutions of the State, according to their last reports, the items
TABLE NO. 1.
Aggregate statement of the Banks and Savings Banks, June 30th, 1879.
Sixty Commer-Totals of Eightycial Banks.* three Banks.
*Of these 56 are home banks, and 4 are branches of foreign (English) banks, doing business in San Francisco. This includes $8,737,392 41, the amount due head offices at London, by the four branches of foreign banks, and $24,071,432 14, the paid up capital of the 56 home banks.
NOTE. The French Savings and Loan Society (new business) takes the place in the above aggregate of the Farmers' Savings Bank of Stanislaus County, retired.
THE COMPARATIVE CONDITION OF THE SAVINGS BANKS.
In our annual report (pp. 11, 12,) were given tables showing the changes in the aggregate items of the banks and savings banks, for six months ending December 31st, 1878. We have not prepared a table for this report to show the changes in the items of the commercial banks, for the reason stated in our former report, which was that the changes in the items of the Nevada Bank of San Francisco are usually on so large a scale as to render generalization comparatively useless, unless it be excluded.
The following table shows the increase and decrease in the aggregate items of the live savings banks, for the semi-annual terms ending December 31st, 1878, and June 30th, 1879; also, the total changes for the year beginning July 1st, 1878, and ending June 30th, 1879. It will be seen from this table that the changes in the aggregates for the first six months, ending December 31st, 1878, were very much smaller than for the succeeding half year ending June 30th, 1879. We shall refer hereafter to this difference, and state what we deem