The state herald., 1901-08-16
WASHINGTON GOSSIP.
Bank Organization

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:
THE impetus given to the Organiza-
tion of national banks by the act which
became u 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 banking associ-
ations, with IN aggregate capital OF
$34, 4,267 600, accompanied by bond de-
posit aggregatlng $4,000, 200. OF these
banks, 457 were organized with u CAP
ital Of less than $4,000, the total
amounting to $11, $500, and POS with
a capital Of $4,000 or over, the aggre-
gate amounting to 500 1856, 600. Includ-
ed in the total number of organizations
are nlnety-twO banks with capitals of
$500, 600 which were conversions OF
state institutions, slxty-three of which
were capitalized for less than $oO,OOO
and twenty-five for $4,000 or over.
Viewed from geographical stand
point, the middle states lead In the to-
tai number of organizations, namely
PA, 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 $4,000.
''In the southern states 159 banks
were organized. with nn aggregate cap
ital of $S, S,453 600; 1O3 of which We're of
the smaller class and fifty-six of the
larger.
1.-The next greatest number Of organ-
izations occurred In the western states,
namely 135. with aggregate capital of
S4,3S5 600; 113 Of these banks were of
the smaller class and twenty-five of
the larger.
I'm the eastern states 125 banks with
capital of $7,114,OO We're organized, of
which seventy were with capital of
less than 100000 and tifty-five with
capital Of $5O,OO0 or more.
"In the Pacific states, including Ha-
wall, there were twenty-five organized.
with aggregate capital OF 81 ,635.OO. or
this number thirteen were of the small
er class and nine were with capital OF
$5O.O0O or more.
"The smallest number of organiZa-
tions In our geographical division was
in the New England states, namely,
Ten, WIN a Vupitda w Ti'iVv'VV' o"A
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 capital Of
S616,3OS, ,O5; bonds on deposit to se-
cure circulation, $24I,G11 $40; circula-
ton secured by bonds, S216,314.Ioo;
bonds secured by lawful money depos-
fled by banks placed in voluntary iq.-
uidation In charge OF receivers. and
those reducing circulation, 3S,O21 ,9'5.
July 31st the number Of banks had
Increased to 4,2l7; capital to $685. ,5ti,-
695; bonds on deposit to secure circula-
ton to $2l9, BAG. .43O; circulation secured
by bonds to $327, ,O39. .372 and circula-
tion secured by lawful money to $20.-
113.53o.
''Of the aggregate amount of bonds
deposited as security for circulation,
$329.3IS, 49, trife over ninety-six per
cent, !. e., s31G.O25, $50. are two per
cent. Of the issue OF 1900.
"The circulation OF national banking
associations reached the maximum Oc-
tober %. 1882. namely: S5G3.4OO.W2,
which was S6.2i0.699 higher than the
amount outstanding July 81, 1901"