The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-07-09

| states 343, the PacltiC states, b0, ana
| the Islands of Hawaii and Porto Rico
! g. If the comparison is limited 70 the
banks of less than $50 900 individual
! capital the class authorized by the act
of March a. 1900, the showing is stin
| more remarkable. OF this class there
were organized a total of 1,041 banks.
| OF this total but five are located in the
| New England States and but 141 in
| the Eastern States, While the Southern
States have 235, the Middle Western
States, 1886, the Western States, POI, and
| the Pacific States, 80.
More banks and more capital have
been added to the national banking
system since March IA, 1900, in Penn
| svlvania
The South and West, too, have kept
we'll to the front in the organization of
large banks since March IA. 1900 OF
those organized with individual capital
of $500 600 or over, Ia are in New Eng
land 1876 in the Eastern states, 14S in
the Southern states, 1877 in the Middle
West, 50 in the Western states, and 28
in the Pacific states. The capitalization
of the new banks organized since
March H. 1900, amounts to $96, DAB, 500,
Of which $3,900000 is in New England,
s25, 799, 900 in the Eastern states, SIS, 065,-
500 in the Southern states, 500 ISL, 600 in
the Middle West $11,0S 900 in the
Western states, and $5,S20,000 in the
Pacific states.
More new banks and more capital
have been added to the national bank
ing system in the state of Pennsylvania
than in any other state since March IA,
1900, the total being 1856 new banks and
$l6212, 900 new capitalization. OF the
Pennsylvania banks, however, 105 with
a capitalization of $14,125, 900 We're of
the larger class, and but II, with 81
081 900, were of the smaller class. In
Texas, which comes second in the num-
Der of banks and amount of new capt.
tai, with 1877 banks and $7,05S,000 new
capital, l26 with a capitalization of
SO. 3S9, 900 were banks of less than $780,
600 individual capital and thus repre-
sent the extension of the national bank
ing system to communities in which it
was not available under the old law.
Some of the Southern States still
| seem to be backward about organizing
banks under the national system.
| Next to Texas in the number of new
| banks organized in the Southern states
comes the border states of Virginia and
West Virginia. with thirty-four and
thirty-three new banks respectively.
Next comes Kentucky with twenty-six,
Georgia with twenty-five, Alabama
with eighteen, Louisiana and Tonnes
see with fourteen each, Mississippi
with nine. Florida and Arkansas with
eight each and South Carolina with
but three. South Caroline, Florida and
Mississippi have been particularly slow
in awaiting themselves of the oppor-
tunity to organize national banks in
small communities, each state having
organized but two. In Arkansas three
of the smaller banks have been or
ganized; in Louisiana, six; in Alabama,
| seven; in Tennessee, eight; in Georgia
| and North Carolina, twelve each; in
Kentucky, thirteen, and in Virginia and
West Virginia, twenty each.
In some quarters fear has been ex-
| pressed that the organization of a large
number of small national banks would
! prove a source of weakness in times of
financial stringency. This fear is not
entertained, however by the Controller
| of the Currency and others who have
made a special study of the subject.
1t is believed rather that the banking
| system of the country as a whole has
been strengthened rather than weak
| ened by the operation of the law of
March IA, 1900. The principal reason
| for this is that about A per cent. Of
! the small banks organized under that
| law represent conversions of state
banks or congratulations of state and
| private banks. In many of these cases
the banks that have been converted OF
recognized were relatively weak state
or private banks with less than the
minimum capital required for their in
| corporation into the national system
| They have not only been forced to
4 strengthen themselves on entering into
that system, but they are now subject
to the rigid regulations and inspection
| prescribed by the national bank act
and the officials of the controllers of.
! flee believe that in times of stringency
the small banks will give fully as gooc
an account of themselves as the larger
! ones.