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CONFIDENCE IN BANKS INCREASES RESOURCES OF INSTITUTIONS MAKE BIG GAINS DURING THE PAST YEAR. RESOURCES ARE INCREASING Few Failures Are Due to Carefulness of Bank Officials-State Department Does Good Work-Capitol News. -Nashville. The report in part of J. L. Emerson, superintendent of state banks, to Gov. Rye is as follows: "Conditions were generally satisfactory during 1915. Directors and committees were more active, managers were more careful, and the banking business was more prosperous. There eare now 399 state banks and eight branch banks. Eight hundred and thirty-eight examinations were made during the year. Two published state. ments were called for, one on March 30 and the other on Nov. 10. A com parison of the March and November figures shows that the total resources of the banks increased $7,990,006.58, deposits increaserd $6,810,914.38, and reserve increased $1,085,490.78. "With reference to the bank failures during the year, the following encouraging facts are to be noted: The Planters Bank and Trust Company, of Tullahoma, failed, but depositors were paid in full within a very short time, and a trustee representing the stock holders is now liquidating the remain ing assets. On Feb. 4 the Peoples bank, Collierville, became involved in some difficulties and closed its doors. Its troubles were soon adjusted, how. ever, and it reported on Feb. 18, involving no loss to depositors. "Early in January the Citizens Bank, Maury City, failed. Every effort was at once made to secure rapid liquidation, but since some unusual local conditions made it seem probable that long and expensive litigation would be necessary, it was the choice of the depositors that a compromise settlement of 70 per cent be effected. This plan was carried out after being submitted to and approved by the court. "There are some unfinished matters in connection with banks that failed during 1914. "The assets of the Citizens' bank, Huntingdon, were sold to the Farmers State bank, the latter assuming the payment of depositors. Fifty per cent already has been paid, another dividend will be paid soon, and the pay. ment of the full amount due creditors will unoubtedly be made within the course of a few months. "Another dividend of 12 per cent, making a total of 87 per cent, has been paid the creditors of the Van Bu. ren bank, Spencer, and there is a satIsfactory prospect that payment of the remaining 13 per cent will be made this year. "I am still acting as receiver of the Mercantile bank, Memphis, and suits for the recovery of large sums are still pending. "In the case of the Bank of Hum boldt, liquidation is very slow, but suit has been brought and is now pending against the directors for an amount sufficient to pay all creditors in full. "The personnel of the department has had no changes and is composed of J. L. Emerson, superintendent; John J. Heflin, assistant; D. C. Borden, A. J Williams, J. F. Joyner, H C Crumbliss and N B. Gentry, examiners; J. M. Turrentine, secretary."
