Amount of loans applied for and the amount of loans closed and paid out in each of the States and districts to Oct. 31, 1917. The capital stock of the Federal land banks on October 31, 1917, was $9,988,071, of which $8,891,930 was owned by the Government of the United States, $988,071 by Farm Loan Associations, and $108,070 by individuals. Farm loan bonds issued amount to $21,477,475. The total liabilities of these Federal land banks is stated at $35,484,479. The principal asset is represented by mortgage loans, the total being $21,031,513. The banks have investments in United States certificates of indebtedness to the amount of $10,104,779, and in United States bonds, $84,747. The statement of condition of these banks follows: Statement o condition of the Federal land banks at the close of business Oct. 31, 1917— Continued. 6,874, 111.35 2,040, 037.71 2,589, 519. 36 5, 127, 050. 25 35, 484, 479. 89 LIABILITIES. Total... 942,591.50 5,643. 52 1,290.91 4,000,000.00 8,891, 930.00 988, 071. 50 108,070.00 9,988, 071.50 147, 390.90 18, 159.94 21, 477, 475.00 203, 076. 18 3,650, 306.37 6,874, 111.35 2,040, 037.71 2,589, 519. 36 5, 127, 050. 25 35, 484, 479.89 CONCLUSION. I desire to acknowledge with cordial appreciation the efficient and faithful work performed during the past year by the employees generally of this bureau, including also the force of national bank examiners and their assistants. The enormous increases in the work which has been carried on by this bureau in the past four years, in the responsibility involved and in the magnitude of the financial interests now under the supervision of the Comptroller's Office, are out of all proportion to the increase in the force of employees or to the increase in the appropriations granted the bureau for its operations. At the time of the call of January 13, 1914, immediately preceding the present administration of this office, the total resources of all national banks coming under its supervision amounted to $11,296,000,000. On November 20, 1917, the date of the last call, the total resources of all the national banks of the country amounted to $18,553,000,000, an increase of $7,257,000,000, or 64.24 per cent. The increase in the employees of the bureau (outside the reimbursable roll) from the fiscal year 1914 to the fiscal year 1917 was but 11.21 per cent. The appropriations by Congress for the operations of the Currency Bureau for the fiscal year ended June 30, 1917 (exclusive of the reimbursable roll), shows an increase over the fiscal year ended June 30, 1914, of 18.02 per cent. The efficient accomplishment of the very great amount of additional work which has been imposed upon the force of the bureau has involved special effort and much overtime; but the new and additional tasks have been met cheerfully and satisfactorily, and with no pecuniary compensation for the overtime and extra work usually allowed in commercial life. I respectfully call attention to a number of special exhibits relating to the operations of the national banks which are published as an appendix hereto, in addition to the other exhibits hereinbefore referred to. The usual detailed statements of each national bank, together with additional general and special statistical information and the customary digest of court decisions relating to national banks, will be found in volume 2 of the report of the Comptroller of the Currency. Respectfully submitted. JOHN SKELTON WILLIAMS, The SPEAKER OF THE HOUSE OF REPRESENTATIVES. 13034°-FI 1917-43 |