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REPORT OF THE
COMMISSIONER OF BANKING

1917

Governor

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.

ABSTRACT OF REPORTS FROM ALL STATE BANKS.

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

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Comparative Table 'Showing Number and Deposits of State Banks. Year. No. Banks.

Total Deposits. 1891.

....$ 8,330,896 96 1892.. 50

9,418,513 26 1893..

9,173,210 89 1894..

9.066,980 99 1895...

9,698,088 10 1896..

10,609,880 96 1897..

11,195,954 26 1898.

13.069,203 84 1899..

16,284,286 99 1900...

21,323,927 06 1901... 102

26,782,556 39 1902... 115

32,872,669 70 1903.. . 148

38,908,768 65 1904.. • 151

39,718,672 40 1905...

. 160
.....

44,475,261 76 1906... .. 172

50,172,070 43 1907... .. 170

52,217,945 73 1908... . 169

49,057,009 66 1909. . 177

54,472,082 82 1910... · 179

59,198,505 66 1911... 189

62,830,866 93 1912... 191

67,121,377 66 1913... 193

73,774,655 57 1914.. 196

76,248,436 90 1915... 194

72,174,645 53 1916... 193

83,745,205 95 1917... • 202

...... 112,210,611 06 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. The Bluefield Bank, Bluefield, W. Va. Capital subscribed $100,000.00. Capital paid in $100,000.00.

February 17, 1917. The Bank of Dunbar, Dunbar, W. Va. Capital subscribed $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.
Assets.
Loans. real estate..........
Loans, stock or other security...

1,042,625 17 Real estate.

263,317 05 Furniture and fixtures.....

9,906 41 Cash in bank......

214,582 94 Cash on hand.........

59.913 65 Insurance and taxes advanced.

345 12 Dues, fines and premiums delinquent..

99,541 46 Other assets .......

291,794 42 Total....

.........$8,119,131 01

137.104 79

Liabilities.
Due shareholders acct. installment stock......

... $4,564,076 21 Due shareholders acct. full paid stock...

....... 1,493,009 92 Due shareholders acct. matured stock..

757,733 07 Undivided profitfis .......

422,150 97 Bills payable .................

346.886 84 Dues paid in advance...

8,851 73 Other liabilities ........

526,422 27 Total

$8,119,131 01 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.
Name.

Location.
Community Savings & Loan Co.....

.........Huntington Citizens Savings & Loan Co.......

... Logan Community Savings & Loan Co....

.Charleston

Building & Loans Liquidating since June 30th, 1916.
Name.

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

Location. Buckeye Building & Loan....

........ Bellaire, Ohio Equitable Mortgage & Trust Co........

. Baltimore, Md. Provident Life & Trust Co........

... Philadelphia, Pa. Union Building & Loan Association................... Steubenville, Ohio

62 70

Appropriations. Amount appropriated for traveling expense of Commissioner of Bank""Balance in traveling expense June 30th, 1916...

... $3,000 00

................ $3 Total........

$3,062 70 Amount appropriated for salary Assist Commissioners, of Banking...... $6,000 00 Amount appropriated for salary of stenographer......

1,200 00 Amounted appropriated for contingent expense.......

1,000.00 Balance in contingent expense June 30th, 1916...

672 06 Total...

$1,672 06

$

Disbursements. 1916. July 11 Chesapeake & Potomac Telephone Co.....

.. 11 Western Union Telegraph Co........

11 J. A. de Gruyter, P. M.postage.... Aug. 9 Daily Gazette Co., subscription 8-1-16 to 8-1-17...

9 Chesa peake & Potomac Telephone Co...

Western I'nion Telegraph Co...........
9 John M. Davis, secretary and treasurer National Association

Supervisors of State Banks, dues....

14148

2 58 50 00

4 80 13 95 10 02

20 00

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Aug. 25 F. M. Smith, office work.....
Sept. 11 Western Union Telegraph Co....,

11 Chesapeake & Potomac Telephone Co.
11 S. Spencer Moore & Co., neostyle machine.......
11 H. E. Haas, Walnut Hill water....
11 J. A. deGruyter, P. M., postage...
20 R. L. Polk & Co., Gazetteer......
27 J. A. deGruyter, P. M., box rent...

30 G. M. Clinedinst, painting rooms...
• 12 Chesa peake & Potomac Telephone Co

14 The Charleston Mail, 10-1-16 to 10-1

21 Daniels Department Store, carpets... Nov. 1 J. A. deGruyter, P. M., postage....

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

The Addressograph Company, plates and ribbon

S. Spencer Moore & Co., safe and shades..... Dec. Huntington Herald Despatch Co.. subscription to

9 S. Spencer Moore & Co.. expense books........

Chesapeake & Potomac Telephone Co......
9 J. A. deGruyter, P. M., postage.......
1917.
Jan. 3 J. A. deGruyter, P. M., box rent........

3 S. P. Smith, (money advanced for postage).
11 Western Union Telegraph Co....
11 Chesapeake & Potomac Telepho
25 Levici Hatfield, office work....

29 J. A. deGruyter, P. M., postage............... Feb. 8 Western Union Telegraph Co....

Chesapeake & Potomac Telephone Co...

S. Spencer Moore, binders and folders....
5 Levici Hatfield. office work ....

Day & Night Bank, Levici Hatfield assignee
Mar. 8 Chesapeake & Potomac Telephone Co..............

Western Union Telegraph Co.................
R. L. Polk, directory...

Burroughs Adding Machine Company, adding machine...
April 7 Peerless Key Company, supplies for typewriter.

7 F. C. Ritter, repairing couch.......

Uriah Barnes, code .....:::....::

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

J. A. deGruter, P. M., postage and box rent.....
12 American Express Company, express to Pennsboro...

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

The Charleston Leader, subscription to 10-17-17...... June 1 W. Metz, pictures for office..

1 I. W. Smith, sanitary moistener..

Chesapeake & Potomac Telephone Co......
11 J. A. de Gruyter, P. M., postage....
22 J. A. deGruyter, P. M., box rent..

30 J. A. deGruyter, P. M.; postage. July 6 Tripure Water Co., water.

6 Chesapeake & Potomac Telephone Co.....
6 Potterfield & Carr, supplies for office......

Elizabeth McCall. office work .....
6 Western Union Telegraph Co......

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... $2,822 49

Total..

$1,664 73 Balance contingent fund........

7 33

$1,672 06 Amount expended for traveling expenses of Commissioner of Banking

and Assistants ........................:::::
Balance in traveling expense June 30th, 1917...........

240 21 Total..

$3,062 70 Amount expended by Assistant Commissioners of Banking.............. $6,000 00 Amount expended by stenographer....

............ 1,200 00

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

.$10,300 00

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

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