The Birmingham age-herald., 1914-03-14
BOSTON LEADS ALL CHESTER CAPTAIN
 BANK RESOURCES Other Cities Have Had a Growth PrOpOrtiOnate to
 That of New York
FIGURES ARE GIVEN TO RESERVE BOARD
National Banks Are Not Alone in the Phenomenal Growth Shown by the Country's Financial
 Institutions
By HOLLAND

New York, March 1S-(Special. June dls- closure which followed a study of the latest reports made by the national banks of the country to the comptroller of the currency at Washington is accepted as thoroughly justifying the presumable rec ommendation which is to be made by the organization committee for the federal re- serve board that Boston be named as one of the reserve districts of the United States.
 The record shows that with respect to resources per capita Boston stands first among the cities of the United States; in fact, that city is considerably in excess of New York in this respect. For while the total resources of the national banks of New York city are in round numbers &,5oo 00o, 900, yet the resources per capita are only $936. The resources of the Boston banks are $9o5 ,ooo, GOO, but the resources per capita are $lS51. These figures are re- garded as indicating that Boston is now, and must continue to be, one of the greatest, possibly the greatest of mar kets proportionately to the population for producers in other parts of the country. This estimate gives Boston the greatest purchasing power per capita of any city.
 These reports, which were made to the comptroller of the currency on March l. will undoubtedly serve to facilitate the or ganization of the new national banking system after the federal reserve board has been named. Behind the bare statis- tics contained in these reports are to be discovered some changes which are of especial importance at this time. For instance, if there be examination of the statistics contained in the reports of the largest of the banks of New York city and comparison made between these fig ures and those furnished by banks in other large financial centers, there will be revelation of the fact that there still continues to be great concentration of money capital and of banking resources in the metropolitan district
 Will this be to any extent changed after the new national banking system is per fected and is in operation? Will funds 1n large amounts flow to New York from other parts of the country, or will facili- ties for the possible utilization of these funds in other centers be made possible through the operation of the new national banking law9
 One national bank in New York city re- ported to the comptroller of the currency that at the close of business on March 1t possessed resources of $324 000.000 round numbers. Another national bank reported the total resources of S139,000,0O0, and still another total resources of l6s,000,000 The four largest banks in New York city possessed on March resources aggregat- ing in all S7S0,0oO 900, round numbers. Not one of these banks possessed resources much in excess of $20, 000 0OO 20 years ago At the time James Stilman became pres ident of the National City bank 1t was the custom of bankers in New York, as soon as they received clearing house sheets each day, to look first at the figures which reported the clearing house transactions of the Chemical bank. It then stood pre- eminent ,and both in New York and in other parts of the country was esteemed the greatest of American banking insti- tutions. The reputation of that bank for conservative and wise management has not been impaired, but it now finds itself far down on the list so far as resources and deposits are concerned
 A Great Change
 The great change in the relation of New York both to the metropolitan district and toNother parts of the country, began immediately after the repeal of the Sher- man silver law at the extraordinary ses- sion of Congress which was called by President Cleveland in the summer of
 
 1893. The repeal of that law and the af- | firmation few years later, both by a ma l jority of the popular vote and by Con gress, in favor of q single gold standard | We're coincident with the rehabilitation | of the railroad systems of the United | States and little later just about the | beginning of President McKinley's sec | ond administration, with the promotion of | great corporations, which afterward be- | came known as "big business"
 These were chief among the influences | which stimulated banking activities not | only in New York; but in other parts of | the country Boston, Philadelphia, Balti- | more, Minneapolis, St. Louis, Cincinnati | and New Orleans reported banking growth | as great as that which | the banks of New York city reported | Large capital and great wealth appeared | in the early years of the present century. ! Principally for commercial advantages many of the great corporations made their headquarters in New York city, |