The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-08-07
NUMBER OF NATIONAL BANKS
665 Organized in Sixteen Months Middle
States Lead.
(By the Associated Press,

(By the Associated Press.)
Washington, August 5.--Mr. Dawes,
the Comptroller of the Currency, has
issued the following statement regard
ing the results of the passage Of the act
of March 4th, 1900:
.The impetus given to the organiza-
ton Of national banks by the act which
became law on March 14th, 1900, still
continues:
During the sixteen and half
months since the passage of the act
there have been organized in the United
States 665 national banking associa-
items. with an aggregate capital of $34.-
267 900, accompanied by bond deposit
aggregating $4,000, 200. OF these banks
457 were organized with capital of less
than $4,000, the total amounting to
$11 49,, 900, and 20S with a capital of
$4,000 or over. the aggregate amount
ing to $22, 1856, 900. Included in the total
number of organizations are ninety
two banks, with capital of $500, 900,
which were conversions of State insti-
buttons, siXtythree of which were
capitalized at less than $4,000 and
twenty-fi for $50, 900 or over.
Viewed from a geographical stand
point the Middle States lead in the to-
tai number Of organizations, namely
ga, of which 154 were with capital OF
less than 100000 and sixty with capital
of $4,000 or more. The aggregate capt.
tai stock Of the banks organized in this
section was $11.5S0000.
"In the Southern States 159 banks
were organized, with an aggregate
c o nan La
of the smaller class and fifty-siX of
the larger.
1.-THE next greatest organizations oc-
Cured in the Western States, namely
1875, with aggregate capital Of $4,3S5,O00.
One hundred and thirteen of these
banks were OF the smaller class and
twenty-five of the larger.
I'm the Eastern States 1875 banks,
with capital of 81, Id, 900, were organized,
of which seventy were with capital of
less than $4,000, and f1fty-five with
capital of $4,000 or more.
''In the Pacific States, including Ha-
wall, there were twenty-five organiza-
tons, with aggregate capital Of ST.
635,0O0 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-
tons in any geographical division was
in the New England States, namely ten,
with capital of s1,100,0o0. 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 $4,000 or more.
"On March 14th, 1900, there We're in
operation S,617 banks, with capital Of
$6l6. 30S ,095h bonds on deposit to secure
circulation $244,611. $50; circulation Sc
cured by bonds 1914, 795; bonds Sc
cured by lawful money deposited by
banks placed in voluntary liquidation
in the charge of receivers, and those re-
ducing circulation, $S8,027 1886.
ION July 31st the number of banks
had increased to APT; capital to $685.
$685. bonds on deposit to secure cir
culation to $32934S,43 circulation Sc
cured by bonds to 1927, 039, 1873, and cir
culation secured by lawful money to
$29, 113,530. The net increase in the
number of banks. capital, etc., during
this period was as follows:
Number of banks GOO: capital stock
$43, 24S, $50; bonds deposited to secure
circulation $S47S6,S6O: circulation Sc
cured by bonds and by lawful money
$101, 75O,173.
"Of the aggregate amount of bonds
deposited as security for circulation
1925, 34S, 430, a trife over SO per cent,
1916, 025, $50 are per cent of the issue of
1880.
THE circulation Of national banking
associations reached the maximum on
October 23rd, 1882, namely: $780,, AGO.
6O2, which was $6.247 500 higher than the
amount outstanding on July 31st, 1901"