The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-10-03
BANKS CURRENCYAc r
Number q Banks Increased 6S7 and Ctr.
cusauou Increased ~ 0A,Az5.sI7.

WAsHisoToS, Oct. 3.-The Comptroller
Of the Currency has complied a summary
OF rcturns relating to the organization
Of National banks under the provisions
Of the National Currency law. A. amended
by the Act Of March IL. 1870, statistics
bring brought down TO the close Of Sep
TENDER.
During the eighteen and one hall months
ended Sept. 80. there were ms hanks or
gained. with a capital Of $50 $50 yooo and
with a deposit Of bonds a. security for
circulation Of 1 o.Ss3. $50. Included In
the number of banks are tse. with capital
stock Of Si7. 7<T 90. th. Organization 81
which was effected under the provisions
OF the additional act Of March II. l o. thoee
with capital Of less b a $4,000. Banks
Of capital Of sSo.Ooo or over were organ
lied 90 the number Of 22o. the capital being
S1s .sss 900.
While q limited number Of the banks
organized succ~ssdsd State or private banks
placed IN liquidation for the purpose Of
reorganization. 90. with a capital Of ~, 49,
Oo were conversions 81 State banks. ef-
feCted under the provisions Of section
5.iS Of the Revised Statutes % the United
states. OF the total number Of CONVEX
rious o. were with capital Of lees than $50
600 and 81 with capital Of $4,000 or over
In number Of organizations tho Middle
States lead with ia and capital % si2.oS.-
90 The southern States are SECOND In
number Of organizations. namely. III.
with capital 81 %, 20s go There wers
organized In ths Western States lbi banks.
with capital Of .sa6. 600; In h Eastern
States 1856. with capital $3.50 600. IN the
Pacific States. including nawsii. 2. with
capital o. ass ,ooo, and In the New England
States II banks. with capital of o. .7oo.o0.
In point OF number u organizations
Tssas leads with ~ banks. followed by
Pennsylvania with NJ. Iowa. So. OHIO. ~
Illinois. VI, Oklahoma and indian Terri
tory. 81 eaoh Minnesota. %, New York. "a;
Indiana. IS; Kansas. u. and Nebraska, 20
With the exception Of Vermont District OF
Columbia, Utah. Nevada and Alaska one
or more bank. have bs-en organized In every
State and Territory Of the Union. -.
Notwithstanding the fact that the act 81
March II. 1900. permitted the issue o. cir
c~ulatlng notes 10 the par value OF bonds
Deposited. not exceeding the authorized
capital stock. and the reduction ~ the
seni-annual tax on circulation secured 10y
? per cent bonds, issue 81 which was au-
thorlzed by that act, TO ~one-fourth OF !
per cont. circulation issued has exceeded
bv le~s than per sent the amount ir-uabIe
ON the minimum bond deposit, namely. 70
per cent 81 the authorized capital stock
Of banks with capital Of Si6iooo or lers AMI
$50. coo by banks with capital c,ce~-ting
slSO.Oo In other words. tho banks have
deposited bonds TO the amount OF a uine
Lss thar ~ per cent OF the maximum
Since March u. ieoo. the nuInher Of banks
In existence has increased from 9,ulI 70
a,2S.. the capital stock from tsio sos COS
o. sssi ISL. oo5: bonds deposited from s2+&,-
Gil $40 TO $3.50. 77i $50. and circulation Sc
cured by bonds and by lawful money from
S3s4 .,02 40 20 tsss $40. 5<7. or a net increase
Of siO4, 427 sl7.