Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-03
NEW NATIONAL BANKS.
Number Organized During septem-
ber-Amount of Bonds on Deposit.

WASHINGTON, D. c., October 2.-(Spe-
cial)-The number of national banking
| associations was increased during the
month of September by the organization
ital stock of s3,03o,000 bonds being de-
posted thereby as security for circula-
ton to the amount of s506, $50. Fourteen
Of the associations. with capital of 50. 1875
GOO, were with individual capital stock of
$4,000 or over, and tWenty-four with cap
ital Of s605G00. banks of the class author
lied by the amendment of March IA, 1900.
The number Of conversions Of State into
| national banks during the month was 7,
Of which 4. with aggregate capital of
1000, were of the smaller class, and g.,
with capital of $4,000. of the larger. Five
of the associations, of which three were
capital stock-viz., s25, ooo-and two, with
$4,000 capital EACH were banks organ
lied to succeed State or private banks,
placed in liquidation for that purpose
rs, of which 9. with aggregate capital
of 81. Gao, 9OO were of the larger class, and
II, with total capital of s425,0o0, of the
smaller class
1902, there were added to the system 1,179
associations, with aggregate capital stock
of $6S564,500, of which 1855, with capital
of $2083s,500, were Of the smaller class
and 39i with total capital of SAT, 725.0 900.
with individual capital of $4,000 or over
Included in the total number of organiza-
tons are 1873 banks, with capital Of Sill
365, 00O which were converted from State
institutions. There were organized as
successors to State or private banks
placed in liquidation for the purpose 1856
associations. with total capital of s20510.-.
600. The resulting number of primary
organizations is go, the aggregate capital
being s36 $50, 500.
The total number of national banking
associations organized during the exist
ence of the system is 6,443 of which 1851
were in operation on September 30th. Ma
tional banks to the number of LAOS have
been placed in voluntary liquidation, and
3S7 in the charge of receivers.
The authorized capital stock of banks
on September Both was sill ,167,6a5, showing
an increase in number Of banks since
March A. 1890; OF 1.os4, and in capital
bonds on deposit as security for circula-
ton increased from s244,61,57o to $685.
052.TI0: circulation secured by bonds from
S216375. 795 to 1923 S43, IA, or total increase
of sl07, 46s. $40. The amount Of circulation
outstanding secured by deposits of lawful
money on account of insolvent and Ii
quidating associa tons and those reduc-
ing their circulation, increased during
the period from 1856 to 43,150, asa. The
ing amounts to $685., 993, $685. The changes
in circulation by denominations are as
follows:
Notes of the denomination of S. which
amounted on March 49, 1900, to s79,310, 10,
have been reduced to s57947,625; $40 notes
increased from s79 337S 100 to $14S,379 40, and
$40 notes from s58,77o,6So to s1lO 6s1, 400. In
round numbers notes of the denomina-
tons of $50 and s1oo have been increased
from s11, 900. coo to 5000. 600, and from sA,-
0GO 600 to s3S. 600 coo, respectively. The re-
duction of the issues of notes of the de-
of S.. and increase in the $40
and $40, are due to the restriction placed
upon the issue of IS notes by the act of