The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-10

between Richmond and the territory
proposed to be embraced In the region
to be served by n Federal reserve bank
If located in Richmond, statistics were
complied yesterday giving the number
of accounts, the maximum OF deposits.
and the maximum of loans OF banks In
Virginia, North Carolina, South Caro-
lima, West Virginia. Georgia and Flor
ida with Richmond banks. II will as
tonish even many bankers to see the
following figures. which were compiled
by Executive Secretary George G.
Gregory yesterday. after having had
confidential access to the books OF
every bank In Richmond:
Number of Accounts.
Number Of accounts carried by out
of-town banks In Richmond:
Virginia banks ................. 52S
North Carolina banks .......... 397
South Carolina banks. ............ 1S2
West Virginia banks. 81
Georgia banks ................... SO
Florida banks is
mnximum Deposits.
Maximum deposits to their credit
at any one time during 1918:
Virginia banks. So, f67,679
North Carolina banks. ...... 4,4G5.455-
South Carolina banks. ....... 926.770
West Virginia banks........ 1,793,S3S
Georgia banks .........t.... 440,1l5
Florida banks .,.... 142,9lS
Maximum Loans.
Maximum loans mado to them ut any
one time during 1913:
VirginiaN banks ........... 81. 459,0S0
North Carolina banks. ...... 2.200.4S0
South Carolina banks. 1000. c.i23,915
West Virginia banks ........ 90.10c
Georgia banks .............. b6s'9V0
Florida banks ...-.......... 1880
Follow Natural Currents of Trade.
The organization committee. consist
ing of Secretary of tho Treasury Nc
nd nj
Houston, has announced that In Sc
lecting the location for the regional
reserve banks. efforts would be made
to follow the natural currents of trade
and to upset and reverse business con-
ditions as little us possible Rich
mond's contention that IL Is the proper
location for one of the reserve banks
is based largely on this announce
ment. Individual banks are naturally
averse to saying who their customers
ares or what amounts they have loan
ed In any one locality. but by agree
ment every bank in Richmond gave
Mr. Gregory information on which To-
base the above figures. only the totals
for all banks in Richmond TO be an
nounced, thus not giving away the
TRADE secrets OF any one bank. 1t was
stated that 1t was the first time In
the banking history of Richmond that
any such compilation had been made.
Bankers themselves expressed sur
prise at the total results. That Rich
mond has loaned to banks In South
Carolina s2423,al6, while banks in
South Carolina. 1872 OF which keep regu-
lar accounts in Richmond. had last
year maximum deposits of ss26,77s.
may be taken as an Indication OF the
close relations between Richmond and
the cotton mill district of the South
ern States.
Have Money TO Loan,
From the reports made TO the Comp
troller of the Currency, oliver J.
Sands, president of the American Ma
tional Bank. and chairman Of the exc
cutive committee, complied yesterday
memorandum showing savings de-
poslts in national banks on October
81, 1913. 1t shows. said M Sands,
that Richmond and Virginia have
money to loan, and accounts largely
for the fact that Richmond has loan.
ed so much money to the section South
of Virginia.
Many of the banks, mills and mer-
chans of North and South Carolina"
said Mr.. Sands, ARE relying upon
richmond for accommodations. We
think It is fair TO say that more than
half OF the entire savings deposits in
national banks in Virginia are in the
Richmond banks, and therefore the
savings deposits in national banks in
Richmond will exceed those on de
posit with any OF the other twelve
States mentioned
These figures should be considered
in connection with the large savings
deposits In Richmond savings banks.
which are In addition to the national
bank figures The savings banks
here also mako large loans TO this
Southern territory"
The compilation Of savings deposits
in national banks as of October -.
1913. follows: