The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-17
A STRONG PLEA FOR BRANCH BANK
ING.

A STRONG PLEA FOR BRANCH BANK
ING.
Mr.. Richard A. McCurdy. who is at the
head OF one Of the foremost insurance
companies Of the world, has addressed a
letter 10 the President OF the American
Bankers Association upon the value and
importance OF branch banking. which
contains a great deal OF good sense. lie
says:
In every country in the world In which
banking is highly developed and renders
the fun service 10 the community Of
which Il Is capable the system Of bank
Ing through branches Is universal In
every great financial nation on the Con-
tnent Of Europe, every city or town or
any commercial importance has branches
OF the great banks OF the capital. The
value OF this method IS n matter Of daily
experience IN each Of these countries
but the system is most perfectly develop
ed In Great Britain where banking as a
system has reached its highest perfection.
and where the financial transactions OF
the world have their chief centre Con-
tnuing Mr. McCurdy observes:
''As "A typical instance OF such bank
tional Provincial Bank Of England.
bank with "A paId-up capital Of three mil
lions OF pounds. and a surplus Of two
millions Of pounds. belonging 10 more
than twelve thousand eight hundred
stockholders. with headquarters i'm Lon
don. but with one hundred and sXtv-eight
branches I'm England and Wales besides
about forty agencies I'm places Of minor
importance. II has deposits Of more than
forty-fve millions OF pounds and II dis
counts OF twenty-siX millions ~
hounds are thus distributed through
an parts of the country. The
farmer. the retail merchant. the
| professional man in the rcmOtost cor
ner Of England has no need 10 30 Tar
| from his own door i'm order 20 reach the
| counter OF this great bank. II will there
| receive for safe keeping his temporary
| funds or his permanent savings. allowing
| him O low rate Of interest on his deposits
and II he IS able 10 show that his charac-
! ter and position deserve confidence y VIII
| make advances Of discounts for him M
| the ruling rate Of interest. II al any point
| in the Kingdom there is for the moment
severe pressure for loans. the resources
| Of the bank naturally flow 10 mat point
and II Is able there 10 relieve the pres
sure and equalize the rate or interest
| throughout the area OF IT'S transactions.
| And this is but one OF many. ! select
| q foyv others almost at random
paid-nn CapitaI. surplus.
| porfe ponk n 600 OlO / 10000
| Manchester and liy-
erpool Dist. Bank
ing Company .... 100000 lOo0'Voo
| London and County
| pantinc 70 o O0A na0 1910 mo
Tlovds Rank 1O0O.-S0 1000 COO
| No Of
Deposits. B'ch's
| paris Iark az. 100000 o.
| Manchester and Liver
,ooJ pist thanking
ro,ap.r, ......... Is
r,,Gnr and C,uutv
| p,,,t,ir,, cop,,,n, 2C O0o00o 1S1
| Tio,,de uart 2SDO0OOO 12f
| IIovds Rank agencies
and sub-branchcs ............ 20
,r,,,.a.t,,, ,,o -rrlfsh branch system
y.i,, l,,r br9ncbless system. Mr.. McCurdv
,ornarl,e.
,Contras, This state Of things with the
,,,,,,,,o,, o,rerionce NJ tho United states.
Here the great banks Of the Eastern
I citios ORC ,crv oftcn conrestcd with i'm
/ ,,,o,,so ..,,,,,iise ~ idIa canif1l while the
49, ~ Tor,ofo CITIES and towns I'm the
| -. "a Sn,,,b .r. wholly unable 10
W io,,.,i,,,,to ,lo,,,,rls ~ their Gus
| -. CO.. tl,c;r recommendation II has
80. ~, NJ, -, no c,so tbat millions
| 'Int. -. Ia. illo fr tho baulxs
oe %",,"i ~, io,.',. If the imnoseibiitv
.t1t1,' o., ,,,,cb 81 two nor cent
w -, ioone ubilo farmers and
u'D", ~ f,o,,.cr Kansas CITY ard
.,. '-'. 80 -, oi,,,orir,, i'm vain for
,ooo,,,,,,,l,tior ON Good security M ten
~. ,,,a,a nor cont nor annum This is
| vi NV 80 .t.o E, otbor oro9t
| lI'Qu'",'S Wv. Nv, tii,.,r,to. According
| n""il''ii ''u. ,...,io,,,l t,,,,ts under
| ~ Wv ..ti ,f,r.b o. 1907 one
Inc oln' n,. 1,irs, Nstiorol Rank
| "'r,.'" "'''N' .,,,,.t. ,t,. ,r,.e,t Secre-
OF 'HlCat", " ,,,''. ,or,,,,,i,. rrosidod
laIN OF ll' go ooo o,o Ia We ,,rr,ine
n"u i' ,' ,,, ocl c,o l,ooss ~ e. o.1 nm
III 'dsn SII,-,,,' - ~ nno disco
over me required '''i
| JIM ~ -,.t,,.i,,, ~ our banking
IN any Iroi sol'i~I ..r' .,'o ,c,,,o,of NJ
| sIs''nn w -, rr,r.b iaDline, is
| the '''" - -. ~. e,.r,os IA ba
oi' pI w, 49, 80 , r.formod svs-
soushl loi- n",' 'u ~ ~ h,,t,s u.o,,ii
ZEN conn 'll''on ",,.', ,,., t~t =, ,.o,,r5
,n'e'u ne -. IL. a., ,,ircctio, ~ safety
III. 80 danoor zach hank would
| ana no, "l "'"H' ,,ra,.'i,o,s In tbo
strive TO ,N''' ~, .,.,, ,,,.,,i.ar aud
ailo",i' ", 40 80 tta h,s,,bos hv which
wise Ioc"uon ol 'i'' -. ,,,, i,,,sirC.. COM
Nuu'u IN '',,,,,-,. i'm mo consarva tfsu
num- W '',,,,,,.,,, l,,. ,ybfcb IN would
~ ''' ,,,,,..,.s,l conedsrce for
s'.'Ne ~ .,,''''' .'.,,r,i ,os,,lt ,vorid
JUS 'lI'ui'', wv ,...,',,.,,ort cros,
! ht az Ut I"' - .t.l,f. t.,,