The Holly chieftain., 1901-08-16
WASHINGTON GOSSIP.
Bank Organizations

Mr.. Dawes. comptroller of the cur
rcncy 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-
ton Of national banks by the act which
became Il law March Il. 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 tIi5 national banking associ-
ations. with an aggregate capital OF
S34 .261 900. accompanied by Il bond de-
posit aggregating SlO.UG.2 200. OF these
banks. Al We're organized with a cap
ital of less than $4,000. the total
amounting to S1l. $500. and 2uS with
a capital of $4,000 or over. the agsre-
gate amounting 10 225so,ooS lnclud-
ed in the total number of organizations
are ninety-two banks with capitals of
S5.520.SD which Were conversions OF
state institutions, sixty-three of which
were capitalized for less than $4,000
and twenty-five for $4,000 or over.
Viewed from a geographical stand.
point. the middle states lead in the to-
tai number of organizations. namely
pa. of which 154 Were with capital OF
less than 100000. and sixty with cap
ital of $4,000 or more. The aggregate
capital stock of the banks organized
III this section was S1l .aSo,Gn.
In the southern states 139 banks
We're organized. with an aggregate cap
iral of IS. 4.:5. 900; 1O3 of which were of
the smaller class and tiftysiX of the
larger.
The next greatest number of orsa1-
izations occurred in the western states,
namel, 49,. with aggregate capital of
S43Si.OOo: 113 of these banks We're of
the smaller class and twenty-five of
the larger.
In the eastern states 125 banks with
capital of ST.114,D We're organized, of
which seventy We're with capital of
less than $4,000 and tifiy-tive with
capital of>S5OO0O or more.
I'm the Pacific states. including fla-
waif there We're twenty-five organized.
with aggregate capital of 81 1,63oW. or
this number thirteen We're of the small
er class and nine Were with capital of
$4,000 or more.
The smallest number of orsaniZa-
tions in our geographical division was
in the New England states. namely,
ten. with n capital of S1.1OO.OO. Four
class and six had capital of SoO,OOO
or over.
March H. 1900. there We're in oper-
alton 9.61I banks. with capital OF
S61630S. .G95: bonds on deposit to Sc
cure circulation, S244.6l so: circua.
ton secured by bonds, S216.3I4,d91:
bonds secured by lawful money depos.
tied by banks placed in voluntary li1-
uidaton in charge of receivers. and
those reducing circulation. S3S, OPT. 1915.
July 31st the number of banks had
increased to 4.217: capital to $6l9.oJG,-
695: bonds on deposit to secure circula-
ton to S219.346. 430: circulation secured
by bonds to S3.:.T .O39.313. and circula-
ton secured by lawful money to 3d.
1850.
of the aggregate amount of bonds
deposited as security for circulation,
$500. .:34S. .430. a trifie over ninety-six per
cent. i. e.. S31G,O25.1JO. are two per
cent. of the issue of 1900
The circulation of national banking
associations reached the maximum Oc-
tober %. 1889. namely: $363. .400.G02.
which was S6,24O.699 higher than the
amount outstanding July 81. 1901"