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NATIONAL BANKS THAT HAVE CHANGED TO THE STATE SYSTEM.

First National Bank, South Haven; Plymouth National Bank, Plymouth; Citizens National Bank, Flint; First National Bank, Decatur; First National Bank, Whitehall; First National Bank, Holly; First National Bank, Mason; Second National Bank, Owosso; First National Bank, Flushing; Lansing National Bank, Lansing; First National Bank, Pontiac; First National Bank, Constantine; Merchants' National Bank, Battle Creek; First National Bank, Ionia; First National Bank, Romeo; First National Bank, St. Louis; First National Bank, Ovid.

RESERVE CITIES.

In accordance with the provisions of sections 24 and 27.of the banking law, I have designated the following as reserve cities, viz.: Detroit, Grand Rapids, Saginaw, Bay City, Jackson, Kalamazoo, Port Huron, Adrian, Marquette, Chicago, Milwaukee, Cleveland, Cincinnati, Toledo, Buffalo, Boston, Philadelphia and New York.

NEW BANKS.

Nine new banks have been organized and authorized to transact business under the State banking law during the year. Six of these were new organizations; three were conversions from National banks.

The name, location, date of authorization, and amount of capital, will be found in the following table:

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VOLUNTARY LIQUIDATION.

During the year the following State banks have gone into voluntary liquidation:

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During the year 1897 two State banks became insolvent and were closed by the commissioner, as follows:

State Bank of Fenton, closed June 14, owing depositors $88,703.29, with nominal assets $124,826.86. The receiver has paid to date one dividend of 15 per cent.

People's Savings Bank of Mt. Pleasant, closed August 20, owing depositors $65,491.80, with nominal assets $178,110.85. The receivers have not to this date paid a dividend.

REPORTS OF RECEIVERS.

The receivers of the several insolvent banks have furnished me with their annual reports at the close of business, Dec. 10, 1897.

Mr. Geo. W. Stone, receiver of the Central Michigan Savings Bank of Lansing, reports as follows:

Due depositors at date of suspension, April 18, 1893.

$592,923 53

Collections.

Amount collected by receiver..

From assessment of stockholders.

$502,996 76

10,246 28

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Mr. J. A. May, receiver of the Ingham County Savings Bank of Lansing, reports as follows:

Due depositors at date of suspension, Aug. 6, 1896...

$141,004 92

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Clerical help and salaries other than receiver's. $947 67

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Since making the above report Receiver May has made a dividend of twenty-five per cent.

Mr. Seymour Foster, receiver of the People's Savings Bank of Lansing, reports as follows:

Due depositors at date of suspension, July 11, 1896....

$138,540 20

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The Michigan Trust Company, receiver for the Whitehall State Savings Bank of Whitehall, reports as follows:

Due depositors at date of suspension, Dec. 31, 1896....

$82,576 33

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The Michigan Trust Company, receiver for the Mecosta County Savings Bank of Big Rapids, reports as follows:

Due depositors at date of suspension, Oct. 29, 1896........

$204,681 38

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Mr. H. W. Pelham, receiver of the State Bank of Crystal Falls, at Crystal Falls, reports as follows:

Due depositors at date of suspension, June 12, 1893.........

$29,390 42

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Mr. Clarence Tinker, receiver of the State Bank of Fenton, reports as follows:

Due depositors at date of suspension, June 14, 1897....

$88,703 29

Collections.

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