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STATE

BANKING DEPARTMENT

REPORT OF THE COMMISSIONER

STATE OF MICHIGAN,

Banking Department,

Lansing, December 31, 1905. To the Honorable Fred M. Warner, Governor of Michigan:

I have the honor to submit the seventeenth annual report of this department in compliance with the provisions of section 43 of the General Banking Law of Michigan, as follows:

At the date of this report, there are two hundred and eighty State banks, five trust companies and one society for savings under the supervision of this department. In the statistics following the number of banks is given at 277 State banks. This is caused by three banks commencing business subsequent to November 9, the date of the last call for report of condition.

Statements showing the financial condition of all State banks and trust companies, as called for by this department five times during the year, and in addition thereto reports of the financial condition of the eighty-eight national banks of the State, are appended; as are also abstracts of the yearly reports for the past seventeen years, which show the progress and increasing wealth of the State.

B

NEW BANKS AND TRUST COMPANIES. Twenty-five state banks and one trust company have been organized during the year, as follows:

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317

100.000
25,000

July 12.
August 4.

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The State Bank of Byron..
The Allegan State Savings Bank.
The Charlevoix State Savings Bank
The City Trust Savings Bank of Grand

Rapids..
The First State Bank of Vicksburg.
The B. Dansard & Son's State Bank..
The Citizens' State Bank of Decatur.
The First State Bank of Camden.
The Monroe State Savings Bank.
The People's State Bank of Holland
The First State Bank of Allegan..
The Commercial Bank of Menominee.
The Addison State Savings Bank.
The Emmet County State Bank.
South Grand Rapids State Bank
The Farmers' State Bank of Oxford

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Allegan..
Menominee
Addison
Harbor Springs
So. Grand Rapids..
Oxford.

September 1. September 7. September 7. September 7. September 9. September 28. October 2. November 1. December 1. December 7. December 21.

40,000 65.000 20,000 25,000 25,000 20,000

INCREASE AND DECREASE OF CAPITAL STOCK. In compliance with section 10 of the banking law, the following banks have amended their articles of incorporation with reference to capital stock:

The Dime Savings Bank, Detroit, $200,000 to $250,000.
The Merchants & Miners' Bank, Calumet, $100,000 to $150,000.
The Home Savings Bank, Detroit, $200,000 to $400,000.
The Alpena County Savings Bank, Alpena, $75,000 to $85,000.
State Savings Bank, Ionia, $50,000 to $100,000.
The Eaton County Savings Bank, Charlotte, $50,000 to $100,000.
Zeeland State Bank, Zeeland, $25,000 to $35,000.
The State Bank of Gladwin, Gladwin, $20,000 to $25,000.
The First State Bank of Allegan, Allegan, $40,000 to $50,000.
The First State & Savings Bank, Flushing, $55,000 to $27,500.

The above exhibits a net increase of $407,500.00. Adding to this amount the increase in capitalization resulting from organization of new banks, $915,000.00, constitutes a total increase in capital stock during the year 1905 of $1,322,500.00.

VOLUNTARY LIQUIDATIONS. Acting under the provisions of section 53 of the banking act the stock

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