Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-09
MORE MONEY PUT OUT
National Bank Circulation
Increased.
BONDS DEPOSITED
FoRTY-TWo INSTITUTIONS Or
CANNED IN AUGUST.
Thirty One Have Individual Capital Of
Less Than 5o,ooO-Treasury
Department Expectation.
BON DIS DEPOSITED

Since Secretary Shaw made his announce
ment that he had arranged with the ma
tlonal banks to increase their circulation
the Treasury Department has received S4,-
OF 900 in bonds deposited to secure circu-
Iation, and that amount of new circulation
has been issued. No single bank has as
yet taken out large amount of circulation,
but the banks are gradually deposting
bonds Today bonds to the amount of only
s211oD0 were received. 1t is the expecta-
ton at the Treasury Department that dur
ing the present week some of the larger ma
tiDnal banks OF New York and Chicago es-
peCially vii! deposit large amounts of bonds
to lessen the Tightening tendencies of the
money market at both of those centers.
Increase in Circulation.
The great increase in national bank cir
culatlon in the last three years is shown by
some figures that have been compiled in the
office of the controller of the currency On
September 6, 1Ss9. the total circulation of
the national banks of the country was ap-
proxImately S242.OoO.OOO. September of
this year the total circulation was approx
mately $}fi2. 100000.
The monthly statement of the organiza-
ton Of national banks. just issued by the
controller Of the currency, shows that there
were organized during the month of Au-
gust fOrty-twO national banks, with an ag
gregate capital stock of 81. 430 900, and
bonds security for circulation of S44T, $50.
Thirty-one of the banks authorized by the
act Of March II. 1900. have individual capt.
tai of less than $4,000, aggregating SS25-
90 and the other eleven. authorized by the
original bank act. have individual capital
of $4,000 or more. asgregating s605,OOo.
New Banks Organized.
From March IA, 1900. to August 81. 1902
LII banks with aggregate capital stock
OF sf5.o34Jc0 were organized. OF that num-
Der 1i6 associations with aggregate capital
OF slo,5S5.oOo were conversions of state
banks; SOL with aggregate capital of $40
Si3.oo congratulations of state and private
banks. and 6l4 with aggregate capital of
Si4.6li..TD primary organizations
Inc number of active banks has increa sed
from 36lI on March II. 1900, to 1876 on
August 81, 1872; authorized capital stock
from s6l6,sps.o95 to sI07,774, 695; bonds
deposit as security for circulation from
S2H,6ll 80 To S522.941 $50. and bond-secured
circulation from S2163I4, T95 to S319 4OT 5S6.
Circulation secured by deposits of lawful
money on account of insolvent and liqui-
dating associations and by those reduc-
ing their outstanding issue has increased
from SS.u2I,I35 to 81 so, 1O5.
The Treasury Department has approved
the application to organize the City Ma
ti1nal Bank of Duluth, MINI. Capital
S5DO.OOO
Certificates were issued today authorizing
the following national banks to commence
business:
The First National Bank of Minneota,
Mimi, capital. $4,000.
The Cherokee National Bank of Table
quah. Indian territory. capital. $4,000.
The corporate existence of the Galva
extended until close of business September
g. 1872