REPORT OF THE

COMMISSIONER OF BANKING

1917

Charleston, W. Va., July 25, 1917.

To His Excellency, JOHN J. CORNWELL,

Governor of West Virginia.

As provided by law, I have the honor to submit for your consideration the seventeenth annual report of this department for the year ending June 30th, 1917.

You will note the phenomenal growth of deposits, especially the item: Subject to check, an unprecedented increase of 50%; also the great decrease in items: Bills Payable and Rediscounts, showing the splendid condition of the State Banks.

S. P. SMITH, Commissioner of Banking.

Comparative Table Showing Number and Deposits of State Banks.

New Banks Granted Certificates Since June 30th, 1916. July 7, 1916. The Citizens Bank, Richwood, W. Va. Capital subscribed $25,000.00. Capital paid in $25,000.00.

September 9, 1916. The Peoples Bank of Burnsville, Burnsville, W. Va. Capital subscribed $25,000.00. Capital paid in $25,000.00.

December 1, 1916. The Bank of Gilbert, Gilbert, W. Va. Capital subscribed $25,000.00. Capital paid in $12,500.00.

January 13 1917. The Peoples Bank, Davis, W. Va. Capital subscribed $25,000.00. Capital paid in $13,970.00.

January 20, 1917. The Commercial Bank, Bluefield, W. Va. Capital subscribed $100,000.00. Capital paid in $50,150.00.

February 9, 1917. scribed $100,000.00. February 17, 1917.

scribed $25,000.00.

The Bluefield Bank, Bluefield, W. Va. Capital sub-
Capital paid in $100,000.00.

The Bank of Dunbar, Dunbar, W. Va. Capital sub-
Capital paid in $12,500.00.

April 2, 1917. The Farmers & Miners Bank, Charleston, W. Va. Capital subscribed $50,000.00. Capital paid in $25,539.22.

April 30, 1917. The Bank of South Charleston, South Charleston, W. Va. Capital subscribed $25,000.00. Capital paid in $25,000.00.

Banks Closed Since June 30th, 1916.

June 16, 1917. The Union Bank & Trust Company, Bluefield, W. Va., caused by gross irregularities.

Abstract of the 48 Building and Loan Associations.

This report shows total assets, $8,119,131.01 against $7,749,567.05 report ending June 30th, 1916.

Building & Loans Organized Since June 30th, 1916.

Building & Loans Liquidating Since June 30th, 1916.

Name.

Location. ...Charles Town

Charles Town & Summit Point Bldg. & Loan... . . .
The West Virginia Rural Credit Association of Charleston adopted the
National system.

Foreign Building & Loan Associations.

The following foreign Building and Loan associations were issued certificates authorizing them to do business in this State until December 31, 1917.

Amount appropriated for traveling expense of Commissioner of Banking and Assistants.

Balance in traveling expense June 30th, 1916.

$3,000 00 62 70

Total...

$3,062 70

Amount appropriated for salary Assist Commissioners, of Banking.
Amount appropriated for salary of stenographer..
Amounted appropriated for contingent expense.
Balance in contingent expense June 30th, 1916.

$6,000 00

1,200 00

1,000.00

Total...

672 06

$1,672 06

27 30

-Oct. 12

14 21

Nov. 1

6

6

J. A. deGruyter, P. M.. box rent.
G. M. Clinedinst, painting rooms.
Chesapeake & Potomac Telephone Co.
The Charleston Mail, 10-1-16 to 10-1-17.
Daniels Department Store, carpets.

J. A. deGruyter, P. M., postage..
Chesapeake & Potomac Telephone Co.
Western Union Telegraph Co.

The Addressograph Company, plates and ribbon.

Huntington Herald Despatch Co., subscription to 12-1-17.

6

13

S. Spencer Moore & Co., safe and shades.

Dec. 9

9

S. Spencer Moore & Co., expense books.

50 00 92

10 69

46 50

1 00 50 00 6.00 2.00 89 95 9 29

4 80 236 00

25 00

11 60

1 96 1.06

108 00

5.00

2.50

14 70 50 00

2.00 12 00

Feb. 8

8

S. P. Smith. (money advanced for postage)

Western Union Telegraph Co...

Chesapeake & Potomac Telephone Co.
Levici Hatfield, office work.

J. A. deGruyter, P. M., postage.
Western Union Telegraph Co.

Chesapeake & Potomac Telephone Co.

Day & Night Bank, Levici Hatfield assignee.

Chesapeake & Potomac Telephone Co.

Western Union Telegraph Co.

10

S. Spencer Moore, binders and folders.

25

Levici Hatfield, office work

25

Mar. 8

8

8

R. L. Polk, directory.

21

April 7

7

7

7

7

7

12

12

May 8

8

Burroughs Adding Machine Company, adding machine.

Peerless Key Company, supplies for typewriter.

F. C. Ritter, repairing couch.

Uriah Barnes, code

Chesapeake & Potomac Telephone Co.

Western Union Telegraph Co.

J. A. deGruter, P. M., postage and box rent.

American Express Company, express to Pennsboro.

L. S. Mooney, material and installation of buzzer.
Chesapeake & Potomac Telephone Co..

The Charleston Leader, subscription to 10-17-17
W. Metz, pictures for office.

I. W. Smith, sanitary moistener.

Chesapeake & Potomac Telephone Co.

Amount expended for traveling expenses of Commissioner of Banking and Assistants

Balance in traveling expense June 30th, 1917

Total..

Amount expended by Assistant Commissioners of Banking.
Amount expended by stenographer... ..

Fees.

Fees collected since June 30th, 1916.....

Commissioner's Affidavit.

I, S. P. Smith, Commissioner of Banking, do solemnly swear that the report herewith submitted is correct to the best of my knowledge and