The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-08-06
BANK STATEMENT
ISSUED FROM OFFICE OF CONTROL
LER OF CURRENCY.
BOOM IN NATIONAL BANKS.
DUE TO PASSAGE of ACT OF
MARCH IA, 1900.

During the sixteen and n Half
Months of Operation of Act 6s5
National Banking Associations
Have Been Orgnnized-In Number
and Capital Sections stood Middle,
Southern, Western, Eastern, Pa
cific and New England.
Washington, Aug 5.-Mr. Dawes, con-
troller of the currency, has issued the
following statement regarding the re-
suits of the passage of the act of
March ID, 1900:
THE impetus given to the organiza-
ton of national banks by the act which
became a law on March IA, 1900, still
continues.
During the sixteen and a half
there have been organized in the Unit
ed States Cos national banking associ-
ations, with an aggregate capital OF
$34, ,267, ,000 accompanied by a bond de-
posit aggregating s1o.OO6,200 OF these
banks. 457 were organized with a capt.
tai of less than $4,000, the total
amounting to S11, ,sS2, 900. and 20S. with
capital of $50,000 or over, the aggre-
gate amounting to S22, 1856, 900. Included
in the total number of organizations
are ninety-two banks, with a capital
of 1920, 900. which were conversions of
state institutions; SO of which were
capitalized for less than $4,000, and 25
for $4,000 or over. Viewed from a ge-
ographical standpoint, the Middle
States lead in the total number of or
ganizations, namely. PA. of which 15l
were with capital of less than $50, 900,
and 60 with capital of $4,000 or more.
The aggregate capital stock of the
banks organized in this section was
$11, $50, 900.
I'm the Southern states 159 banks
were organized. with aggregated capt.
tai of $S,453, 900; 103 of which were of
the smaller class and fifty-six of the
larger.
THE next greatest number of organi-
zations occurred in the Western states.
namely, 1875. with aggregate capital of
$4.3S5. .000 One hundred and thirteen
of these banks were of the smaller
class and twenty-five of the larger.
In the Eastern states, 1876 banks
with capital of $7.114,O00 were organ
lied, of which, seventy were with cap
ital of less than $50,000. and fifty-five
with capital of $50 900 or more
I'm the Pacific states. including Ha-
waii, there were twenty-five organi-
cations, with aggregate capital of ST.
$4,000. OF this number thirteen were
of the smaller class and nine were with
capital of $4,000 or more.
1.-The smallest number of organiza-
tions in any geographical division was
in the New England states. namely ten,
with capital of $1,100.000. Three banks
were organized in New Hampshire and
Connecticut, respectively, two in Maine
and one each in Massachusetts, and
Rhode Island. Four of the number
were of the smaller class and six had
a capital of $50,00O or over.
"On March IA. 1900. there were
in operation 3617 banks with
capital of s61e, ,sOs, ,095; bonds on deposit
to secure circulation. $244. Gil $40; circu-
lation secured by bonds. s216. .374, ,795:
bonds secured by lawful money, depos-
tied by banks placed in voluntary
liquidation in the charge of receivers
and those reducing circulation, $685..
027, 1886.
"On July 81 the number Of banks
556. Cos; bonds on deposit to secure cir
culation to 1926, ,34S. .430; circulation, Sc
cured by bonds to 1927 .039.373; and cir
culation secured by lawful money to
S29.113,530.
'"The net increase in the number of
banks, capital, etc, during this period
was as follows:
Number of banks 500; capital stock.
s43. .248. $50: bonds deposited to secure
circulation, SS4. 1856 $50; circulation. Sc
cured by bonds and by lawful money.
s101. .750.173.
"Of the aggregate amount of bonds
deposited as security for circulation,
1929, ,34S.430. a trihe over 96 per cent,
l. e., $316,0 150 are 2 per cent. of the
issue of 1880.
"The circulation of National Bank
ing Associations reached the maximum
on Oct. %. 1882 namely: 1862, 400 602,
which was $6.247, 500 higher than the
amount standing on July 81. 1901"