Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-08-05
INCREASE In BANKS
Effect of the Act of March IA,
1900.
600 INSTITUTIONS ORGANIZED
Of These Over $50 Had Capital
of Less Than $4,000 Each.
GROWTH IN CIRCULATION

According to a statement given out by
the controller of the currency today, the
impetus given to the organization of ma
tional banks by the act which became a
law March II, 1900 still continues. During
the month of July forty-one associations,
with capital aggregating $685., 900, We're
organized. These banks deposited as Sc
curity for circulation bonds in the sum of
S5I64 30. The only bank organized in the
New England states was The United Ma
tiOnal Bank of Providence, Rhode Island,
with capital of 100000. This bank, as the
title indicates, represents the united inter
ests of four associations in that city TO be
placed in voluntary liquidation. In the
eastern states but eight associations were
organized, of which four are located in
Pennsylvania two in New Jersey and two
in New York In the southern states two
associations were organized in Texas and
Arkansas, respectively, and one each in
West Virginia, Alabama and Kentucky.
In the middle states Minnesota leads with
five banks. followed by two each in Iowa
and Indiana. and one each in Michigan and
Ohio. The organizations in the western
states numbered l., of which five are in
Oklahoma territory, four in South Dakota,
two in the Indian territory and one in
banks were organized one in California
and one in Idaho. OF the banks organized
in Oklahoma territory during the month
four are to be located at the county seats
of the territory in Oklahoma recently
thrown open to settlement; two of these
banks are to be located at Anadarko, one
at Hobart and one at Lawton An add-
tional bank is provided for Lawton by the
change of location and title of the First
National Bank of Fort Sill to the City Ma
tiOnal Bank of IaWtOn
During the sixteen and a half months
since the passage of the act hereinbefore
referred to there have been organized in
the United States 6tJ national banking as
sociations, with an aggregate capital of
S34, 26I eco, accompanied by bond deposit
aggregating $lo.o06.290. OF these banks 45T
We're organized with a capital of less than
$4,000, the total amounting to S11 So. 900;
and los with a capital of $4,000 or over
the aggregate amounting to SD $50, tsp0. In
Guided in the total number of organizations
are ~ banks with capital of 81 800 900,
which We're conversions of state institu-
tons 63 of which were capitalized for less
than $4,000. and % We're capitalized for
$J5,0G9 or over
Classified Geographically.
Viewed from a geographical standpoint,
the middle states lead in the total number
of organizations, namely, 214, of which 154
We're with capital of less than $4,000 and
co with capital of $4,000 or more. The
aggregate capital stock of the banks or
ganized in this section was $11 $50 600.
In the southern states 159 banks were or
ganized, with aggregate capital of sS.453-
coo; 1n3 of these banks were of the smaller
class and IS of the larger.
The next greatest number of organza-
tions occurred in the western states,
namely, 135, with aggre gate capital of 81
3S1, 600. One hundred and thirteen of these
banks were of the smaller class and 30 of
the larger.
In the eastern states 125 banks, with
capital of sT,114,o0a We're organized, of
which 20 were with capital of less than
$4,000 and 80 with capital of $4,000 or
more.
In the Pacific states, including Hawaii
there Were % organizations. with aggre-
gate capital of 81 $50. 600. OF this number
l. We're of the smaller class and . were
with capital OF $4,000 or more.
The smallest number of organizations In
any geographical subdivision was in the
New England states namely, ten, with
capital of S1,1000oo Three banks were or
ganized in New Hampshire and Connecti-
cut, respectively two in Maine and one
each in Massachusetts and Rhode Island.
Four of the number We're of the smaller
class and six with capital of $4,000 or
over.
Increase in Circulation.
On March II, 1900, there were in opera
ton 3.G17 banks. with capital of s61G,-
30S, 095; bonds on deposit to secure circu-
latiOn, S2I1. 30, circulation secured by
bonds S2l6,374, 795; bonds secured by law
full money deposited by banks placed in
voluntary liquidation in the charge of re-
ceiVers and those reducing circulation,
SIS. 027 .935.
On July 81 the number of banks had in
creased to 4.2f7 capital to 1858 J.Jt G95
bonds on deposit TO secure circulation to
s329.34s.430. circulation secured by bonds
to S321 ,039313 and circulation secured by
lawful money to S29,l13,53o.
The increase in the number Of banks
capital, etc. during this period was as fol-
lows: Number Of banks, 600; capital stock
$50; bonds deposited to secure cir
culation, SS4 1876, $50; circulation secured by
bonds and by lawful money, s1O1, 100 173
OF the aggregate amount of bonds de-
posted as security for circulation, 1923 34S.-
400 a trihe over 90 per cent ie 1916 90
LOO are > per cent of the issue of 1890
The circulation of national banking as
soclations reached the axmum on Oc-
tober %, 1882, namely: $500, 40O,6 02, which
was s6,2i7 500 higher than the amount out