The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-07-05
FIVE HUNDRED BANKS
ORGANIZED IN YEAR
Total Capital of New National In
situations Since June, 1902
Is So ,G96,000.
COMPTROLLER MAKES REPORT.
Sevcnty-Two Go Into Voluntary
Liquidation and Five Are
Taken Over by Re
ccivcrs.
COMPTROLLER MAKES REPORT.



Washington. July In til" closing month
OF the fiscal year 1919. ffty eight national
banking associations wore organized with
aggregate capital of SL6i59r: of which
twenty-six. with total capital OF $1,000.
were OF the class authorized by the act OF
March II. 1ao-tha; IS with minimum cap
ital of $500.
Thirty-two of tho banks organized in tho
month wcro Incorporated with a capital
stock ranging from $4,000. the minimum
amount authorized by the act of 1864. /" n
maximum OF $4,000. the total capital Of
this class being s3.969,0S.
Further subdividing the organizations II
IS shown that four were conversions oil
State institutions. twenty-four reorganiza-
tions of State and private banks. iiquidated
for the purpose and the remainder. thirty
were banks OF primary organization.
During the fiscal year ended June 30
there were organized S37 national banking
associations. with aggregate capital Of
sss. e9s. 800: Of which SO with capital Of sl'.-
og550 were banks OF primary organization:
IT, with capital Of S3.A$0.pH reorSHniZa-
lions of State and private banks. and my
five. with capital Of s2,s7Lopl. conversions OF
State banks Ell hcted under the provisions
of section 5i5i of the Revised Statutes OF
III. United States.
OF the total number of organizations for
the year 2S9 with total capital of S.'il.-
zoo. were banks Of the class authorized 10y
tho act o: 1900. the average capital being
but slightly In excess of S25,9o.
PRIVATE. INSTITUTIONS.
Organizations Of banks effected since the
passage of the currency act OF 1850 number
1888, with authorized capital OF sa6,"i5.y1.
and those under the act mentioned number
l.oi. with aggregate capital of s%i.175,Jc.
Banks chartered with authorized capital %.
Ne.0pr or more number a5i, with capital OF
SIS, SIc.0Df. About A per cent of the banks
organized since March II. 1900. were con-
versions Of State banks or CONGRATULATIONS
of State and private banks liquidatei for
the purpose. Bonds deposited by banks or
Eanized In this period aggregate S,3.O0I.sJo,
less than one-fourth of the authorized cap
ital stock.
on March II, 1870. there were in active
operation a.Gl7 national banks. with author
ICED capital stock Of s6l630s .095. and bonds
On deposit as security for circulation OF
S2A,Gll.S10. by June 80. 1892. the number OF
banks had Increased to I.5G. and the author
lied capital stock to sfSi 06l. bg5. n net in
crease of banks and capital of 9es and $6I.-
At the close OF the current fiscal year
there were in active operation 5oD5 banks
with authorized capital of sT5l, I76.s9S. an in
IL 1900. of ISIS and slSs ,isS 500, respectively.
During this period ponds deposited as Sc
curity for circulation increased in the sum
of $50. 7S5.7oo. and circulation outstanding TO
the extent Of Si59 co. 800. OF the present out
standing issues of Al36i0,650. the bond go
cured notes aggregate S3,2.295.+ 0S. the bal
ance. $il.3T5.24c being covered by deposits OF
lawful money.
During this period bonds deposited as Sc
national banks. with an aggregate capital
of $4,000 were placed in charge of
ceivcrs. and sixty-efGht. with capital Of
s2l6i5y0oo. in voluntary liquidation. OF the
latter number, seven. with capital of SgL co..
were associations whose corporate exist
ence expired by limitation. Of which five
however. We're reorganiZed under different
titles. The net loss by foundations. there
fore. was siXty-three.
SIN THOUSAND IN OPERATION
in the year ended June 30. 1903. five ma
tional banks. with aggregate capital of
s'25.ooo. were placed in charge OF receivers
and seventy-two, with capital OF SIS. 235,ooo,
went into voluntary liquidation. Included in
the ligudations are twenty-five banks with
capital of sioI50o0. the corporate existence
of which expired by limitation and of this
number sixteen were rcor.anized under
other titles. resulting In n net loss 10 the
system by liquidation of ffty-sx.
During the existence of the national bank
Ing system 6.ss2 national banks have been
organized of which 5.0O5, 729 per cent
are In active operation. Receivers were ap-
pointed for 800 banks. which is only 81 per
cent of the total number organized.
There were So national banks closed by
action of shareholders. I'm conforulty with
the provisions of section 500 Of the Revised
Statutes. or terminated by expiration of cor
porate existence Banks liquidatod represent
PA per cent of the total number organized.