REPORT.

STATE BANK OF INDIANA,
Indianapolis, Dec. 8th, 1849.

To the General Assembly of the State of Indiana:

Conformably with the provisions of the "Act establishing a State Bank," I herewith transmit to the General Assembly a report of the condition of the Bank, and each Branch thereof, on the 3d Saturday of November last.

It will be gratifying to the General Assembly, as the stock of the State in the Bank is so large, exceeding a million of dollars, to observe its abundantly strong condition, and the efficiency and prosperity of its business operations.

Beside the profits of the past year, divided by the State and the other stockholders, which have been liberal, the surplus means reserved in Bank have continued to increase, thus contributing both to the security of the Institution against the vicissitudes of moneyed affairs, and to an enlargement of its business, corresponding with such surplus.

The aggregate profits of the year have been 9 8-10ths per cent. on the capital stock, while upwards of $80,000 have been added to the surplus fund.

The Branches at Indianapolis, Richmond, Madison, and Michigan City, have each divided eleven per cent.

The Branches at Lawrenceburgh, New Albany, Evansville, Terre Haute, Lafayette, and Fort Wayne, each 10 per cent.

The Branches at Vincennes and South Bend, each 8 per cent. The Branch at Bedford, 64 per cent.

In addition to which an extra dividend of 10 per cent. has been made to the Branch at Terre Haute, and of 20 per cent. payable in Sinking Fund Scrip to the Lafayette Branch.

It is gratifying that the Directory have been enabled to succeed in the regular reduction of the suspended debt, which had accumulated rapidly after the inflation of the business of the country

generally, several years since; and this satisfaction is enhanced by the reflection, that such reduction has generally been accomplished without ruinous sacrifice to the debtors of the Bank.

The amount of the suspended debt has been reduced during the past year,

The capital stock of the State in the Bank has been increased, by the purchase of individual stock, with part of the accumulations of the profits on the State stock,

The loans of the Bank exceed the amount at the time
of the last annual report,
While the circulation is less by

$88,818 22

24,200 00

150,068 53

247,940 00

The Board of Directors of the State Bank assented to the law of the last session for the establishment of additional Branches, and urged the assent of the Branches; but the law is thus far inoperative, some of the Branches having not yet assented.

Respectfully,

J. MORRISON, President.