Gilpin observer., 1901-08-15
WASHINGTON GOSSIP.
Bank Organizations

Mr.. Dawes, comptroller of the cur
rency, has issued the following state
ment regarding the results of the pass
age of the act of March 4, 1900:
1.-The impetus given to the organiza-
tion of national banks by the act which
became law March IA, 1900, still con-
tinues.
During the sixteen and half
months since the passage of the act
there have been organized in the Unit
ed States 665 national be mixing associ-
ations, with an aggregate capital of
34,267 900, accompanied by n bond de-
posit aggregating $1,000, 200. OF these
banks, 457 We're organized with cap
ital of less than $4,000, the total
amounting to S11,SS2,O0, and 20S with
capital of $4,000 or over, the aggre-
gate amounting to So, ,3S5, 900. 1nclud-
ed in the total number of organizations
are ninety-two banks with capitals of
$5,020, 600 which We're conversions OF
state institutions, siXty-three of which
were capitalized for less than S5O,OOo
and twenty-five for $50, 900 or over.
Viewed from q geographical stand
point, the middle states lead in the to-
tai number of organizations, namely
214, of which 154 We're with capital of
less than $4,000, and sixty with cap
ital of $4,000 or more. The aggregate
capital stock of the banks organized
in this section was $11 ,5SO,O0O.
"In the southern states 159 banks
were organized with an aggregate cap
ital of SIS. .453, 900; 103 of which were of
the smaller class and fifty-six of the
larger.
THE next greatest number of organ.
izations occurred in the western states,
namely 135, with aggregate capital of
81, 4,3S5, 900; 113 of these banks were of
the smaller class and twenty-five of
the larger.
"In the eastern states 125 banks with
capital of $7,114,00 were organized, OF
which seventy were with capital of
less than $4,000 and tifty-tive with
capital of $4,000 or more.
I'm the Pacific states, including Ha-
wall, there We're twenty-five organized,
with aggregate capital of S1,63o,Oo. or
this number thirteen were of the small
er class and nine were with capital of
$4,000 or more.
"The smallest number of organiza-
tions in our geographical division was
in the New England states, namely,
ten, with capital of $1,100OO. -Four
of the number We're of the smaller
class and six had capital of $4,000
or over.
March IA, 1900 there were in oper-
alton 9.617 banks, with a capital of
$616, ,3OS, ,O95; bonds on deposit to Sc
cure circulation, S244611 $40; circula-
ton secured by bonds, $216,3I4, 100;
bonds secured by lawful money depos'
tied by banks placed in voluntary liz.
uidation in charge of receivers, and
those reducing circulation, $3S,O21,93o.
July 31st the number of banks had
increased to 4,217; capital to SGo9,55G,-
695; bonds on deposit to secure circula-
ton to S219, 9,346, ,43O; circulation secured
by bonds to 1927 ,O39,373, and circula-
ton secured by lawful money to S20,-
1850.
"Of the aggregate amount of bonds
deposited as security for circulation,
1929, ,34S, ,430, trifle over ninety-six per
cent, 1. e.. S316O25, $50, are two per
cent. of the issue Of 1900.
1.-THE circulation of national banking
associations reached the maximum DC
tober %, 1882. namely: $363, ,4OO,GO2,
which was S6,240,699 higher than the
amount outstanding July 81, 1901"