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No. 102.

IN ASSEMBLY,

January 27, 1836.

REPORT

of the Comptroller in answer to a resolution of the

Assembly, giving a statement of the incorporated banking capital in 1800, 1805, 1810, 1815, 1820, 1825, 1830 and 1835.

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The Comptroller, in obedience to a resolution of the Assembly of the 16th instant, requesting him to furnish a statement " which will exhibit for each of the years 1800, 1805, 1810, 1815, 1820, 1825, 1830 and 1835, the amount of incorporated bank capital within the State: Also, a statement of all banking incorporations which have become insolvent from the 1st of January, 1800, 10 January, 1835; their names, amount of capital, when incorporated, and when they became insolvent:" Respectsully submits the following

REPORT:

The amount of incorporated banking capital has been ascertained by examining the Session Laws from the first organization of the Stale government to the present time. But the actual capital employed, by the several incorporated banks in the Statc, at any given period previous to the adoption of the safety fund system, in 1829, cannot be ascertained with certainty. The bank charters granted previous to 1826, authorized the commencement of bank[Assem. No. 102.)

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ing operations, when a certain per centage on the nominal capital, varying from 12 to 50 per cent, should be actually paid in. The directors had authority to call in additional capital, from time to time, until they reached the limit prescribed in the charter. Returns from the banks, under the old system, of the amount of capital actually employed by each, were made only in a few ca scs; and hence it is not practicable to ascertain, with entire accuracy, the amount of banking capital employed at the various periods referred to in the resolution of the Assembly.

A list of the banks chartered in this State from 1791 to 1835, giving the incorporated capital in each case, has been prepared, and is annexed to this report. Where banks have failed at any time intermediate between the periods at which the capital is required to be given by the resolution, the amount of chartered capital is deducted at the close of the five years.

The safety fund system, adopted in 1829, by compelling the banks which were re-chartered under it, to have the whole amount of the chartered capital paid in, has exbibited the difference between the incorporated and the actual capital of many of the old banks. At the close of 1830, after deducting the amount of the diminution of bank capital, by failures and other causes, there remained, of incorporated capital, the sum of............ $26,185,000 The aniount of capital actually employed, at that time,

as given in the report of the Bank Commissioners,
for 1831, was.....

$21,323,460
Add for six banks chartered in 1830, and
not organized or included in the report, 2,550,000

23,873,460

$1,311,540

This shows a difference between the incorporated and the actual capital, of $2,311,540; which is accounted for by the fact that many of the banks, under the old system, had not called in the whole amount of the capital which they were authorized to use by their charters. Subsequent to this period, there were reductions, probably of the same character, amounting to more than half a million of dollars.

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With these explanations, the following summary of the bank capital in this State, at the several periods referred to in the resoluotion, is submitted, viz:

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In relation to the second branch of the resolution, relative to the banking incorporations which have become insolvent since 1800, 20. the public offices do not furnish all the information necessary to an8 swer the resolution. Such information as could be obtained, is gi

ven in the table below, viz:

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Am't of incorpora- When in-
Names of Insolvent Banks.

ted capital. corporated.
Bank of Columbia, .... $160,000 1793
Bank of Hudson,

300,000 1808 Middle District Bank,

500,000 1811 *Bank of Niagara,

400,000 1816 Bank of Plattsburgh, .

300,000 1817
Washington and Warren Bank, 400,000 1817
Franklin Bank,..

500,000 1818
Greene County Bank, (Aqueduct
Association)

90,000 1818

When insol

vent. 1829. 1820. 1829. 1819. 1825. 1825. 1830.

1827.

$2,650,000

The annexed statement marked A, contains a list of the names of all the banks chartered in this State from 1791 to 1835, with the amount of incorporated capital in each case.

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LIST OF BANKS.

( A. ) In 1782, an act was passed by the Legislature of this State, in compliance with a request contained in an ordinance of the Congress of the United States, incorporating the “Bank of North America,” within this State, and prohibiting the establishment of any other bank, public or private, “during the war with Great Britain."

The following is a list of the banks chartered since, and the capital of each, as given in the charter, viz:

When incor.
NAME.

porated. Bank of New York, ...

1791 Bank of Albany,

1792 Bank of Columbia, .....

1793 Manhattan Company,

1799 Total bank capital in 1800,..

Amount of incor porated capital. $1,000,000

260,000

160,000 2,000,000

3,420,000

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Union Bank, ...

1811

800,000 Mechanics' and Farmers' Bank,

1811

600,000 Bank of Troy,....

1811

500,000 Middle District Bank,

1811

500,000 Bank of Newburgh, .....

1811

400,000 Carried forward, .... $10,515,000

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