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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.

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ABSTRACT OF REPORTS FROM ALL STATE BANKS.

Call made June 20, 1917, as compared with call made June 30, 1916.

Loans and Discounts.

Overdrafts.

Stocks and securities including premiums.

Banking house.

Furniture and fixtures.

Other real estate owned.

Due from banks.

Exchanges for clearing house.

Lawful money reserve in bank.

Expenses, including taxes and interest paid. Resources other than above stated.

Capital stock paid in. Surplus fund.

Dividends unpaid.

Undivided Profits. Due to banks.

Demand certificates.

Time certificates.

Savings deposits.

Bills Payable.

Comparative Table Showing Number and Deposits of State Banks.

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New Banks Granted Certificates Since June 30th, 1916.

July 7, 1916. The Citizens Bank, Richwood, W. Va. $25,000.00. Capital paid in $25,000.00.

Capital subscribed

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.

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

The Bank of Dunbar, Dunbar, W. Va. Capital sub

scribed $25,000.00. 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.

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Building & Loans Organized Since June 30th, 1916.

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Building & Loans Liquidating Since June 30th, 1916.

Name.

Charles Town & Summit Point Bldg. & Loan...

. Charleston

Location. .....Charles Town

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.

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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 1,000.00 672 06

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27 30 -Oct. 12

14 21

Nov. 1

J. A. deGruyter, P. M., postage..

6

6

6

13

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

Dec. 9

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.

Chesapeake & Potomac Telephone Co.
Western Union Telegraph Co..

The Addressograph Company, plates and ribbon.

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

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R. L. Polk, directory.

21

April 7

7

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7

Western Union Telegraph Co.

Burroughs Adding Machine Company, adding machine.

Peerless Key Company, supplies for typewriter.

F. C. Ritter. repairing couch.

Uriah Barnes, code

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125

1 50 18 00

6.50 18 29

1 79 52 00

35 2 70

12

6 00

75 12 55 50 00 2.00

200 00 2 70 13 76

750

5 00 2 48

$1,664 73 7 33

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.

$1,672 06

$2,822 49

240 21

$3,062 70

$6,000 00 1,200 00

. $10,300 00

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

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