The Sentinel=record., 1914-04-02
S|OO,OOO,OOO FOR THE RESERVE BANKS
THAT WILL BE THE CAPITAL STOCK OF THE NEW RE.
 SERVE SYSTEM AT START.
Number Of National Banks Entering
 New System Is 74e5, with Capital of St,7ss, ,ooo. GOO.

Washington, April 1.-The new federal reserve banking system will start business with 3 capital of about Sl00.000,000 for all reserve banks no matter how many institutions the organization committee decides to tonight when figures were made pub. lie from all national banks respond ing to the las; call of the comptrol- Ter of the currency made March A.
 The statement issued giving these figures vii! be the last of the kind be- fore the formal launching of the sys- tenn. unless the organization changes its present purposes and delays the announcement of the reserve districts and cities. The total capital and sur plus of the 7,494 national banks re- porting was given at about S1,7SS,- 900, ,000 Under the reserve act each national bank must subscribe per cent of it's capital and surplus to the capital and the reserve bank in it's district, and per cent of this total would be about Sl07 00a 010
 There were olly 7,465 national banks who signified in the legal time their intention to enter the system, so that the total would be somewhat reduced, but the entrance into the system of state banks and trust con- panies will tend to offset this, and it is possible that with these institu- tions figured in, the capital of all re- serve banks will be near $l10.000,00O.
 The actual working capital of the | reserve banks may reach only half this amount, for the law provides that mandatory subscriptions of only three-sixths of the total of per cent, The reserve board, the machine which will direct the system, however, is authorized to demand the payment of the other three-siXths
 The statement today showed na- tional banks in excellent condition to meet the demands of the new law Some observers were surprised by the
 
 creased instead of being curtailed Loans and discounts on March 4, 1914, amounted to s6,357,555,S ,S9S, a gain over January 13, 1914, the time of the last call, of $1S2,13O,936.
 Subscribing banks must begin pay ments for their reserve banks stock thirty days after the announcement of the districts and rival cities and it was believed that today's announce ment might show a decrease in loans and discounts because of this i'm pending announcement The Joan and discount increase taken tOgeth CT with the fact that individual de posts increased in the same period by more than $39,0OO.OO0, was said to be the best indication that the national banks are in shape to meet the demands of the new system. According to the statement the re- sources and liabilities of the nation al banks were $11 ,564 ,497, ,260; their capital stock, $1056,4S2, ,120, and their individual deposits, S6111 ,32S, ,457. Their reserves were put at $l.547- 592,375, an average of 20.62 per cent, and S47529. .429 above the amount re. quired by law. The cash in banks decreased since January. 1914, about S14,000,00O, but increased over April, 1913, about $S0O0O,00O.
 During March ten new banks were authorized to begIn business and since the currency act was signed there have been 1S4 applications for conversion into national banks or for entrance into the new system as state institutions.