The Washington times., 1916-01-10

the interest rate must not exceed the
reserve bank discount rate.
To authorize national banks TO estab-
lish branches in the United States.
ct" permit branch banks in Alaska a
and insular possessions.
''To authorize a minimum interest
charge Of - cents on small loans
ITO authorize the Comptroller to bring
proceedings against directors for losses
sustained by bank through violation
Of the national bank act
The Comptr' '"er refers to several
cases where national bank directors were
required during t. year to personally
make good to their respective banks
losses sustained through ultra wires in
restments in stocks. including one bank
whose directors put up S5O0,o0O for losses
sustained on deprecated stock bought
by the bank.
The report shows an expansion and
growth in the business OF national banks
during the year since the inauguration
of the Federal reserve system which has
broken all previous records.
From October 81, 1911, to November 10.
1915, deposits in the national banks in
creased s2.0Sl. 900, coo,
The total resources of national banks
November 10, 1915, amounted to $l3.236.
000. .O00. against s., ,422 900 900 September y
1895. an increase of nearly slOOCo. .OOo, 600
the resources now being nearly four
times what they Were in 1895.
The reserves held by national banks
November 10, 1915. exceeded by s5Si. Coz
600 the greatest reserves ever held at
any time prior to the passage of the
Federal reserve act.
From October 81, 1911, to .,ovember TO-
1915. the available cash resources of all
national banks, including specie. bank
notes. balances with reserve agents, cX-
changes for clearing house. etcT in.
creased $S62, Gov. .OOn, while the liza bihues
of the banks for the period named. on
account OF bills payable, rediscounts and
borrowed bonds, were reduced more
than $lOO. .0OoOON
The liability of national banks on ac'
count of circulation was reduced from
81 .OIS. 900 .0OO on October II, 1914. 10 Sl3,,
oOo0OO November 10. 1915. reduc-
ton Of sSO6. .O00, ,o0o, principally due tc
the retirement of the emergency cur
rency,
on February It, 1914 the nationa
hanks in the twelve Federal reserN,
cities held on deposit for other banks
throughout tho country total OF 81,
S7o 900 OOO. ON November 10 1918. tht!
balance had incrcn sod to 81 ,9Sa, ,mo,"N ~
increase of $tl7 ,Oco000 notWi;hsta ndinl
the fact that the member banks had a
the same time accumulated to thci
credit in tho twelve Fcdcra' res"rr'
banks an aggregate of S2j9,O 900.
The total number OF banks shown il
| 7.605 national banks and l9.45I Stat'
banks, trust companies, sd lIlsS pdllhS
| etc.
Roports are also submitted for 3,N
State institutions which failed to sem
: repcrts and whose statements were esti
mated in making ND tn" t"t9lS. makin
a grand total Of all banks of aOC6J Wit
a paid in capital OF s. 222 0oO.o 900. of whic
! s., ,O6S OOO0 0)0 was for national banks
! s.. 90 OOGOOO Sor State banks etc, an
| SS9. 600. 90 for the non-rcDorting banks
The aggregate deposits. exclusive o
| Federal reserve banks wcrc sl9,6f0. oN0 on
! including s6.6i3.Oo O00 for national banks
| 81. .E:i5. 900 OoO for the rep"rtinG State In
| stitutions. and $4,000. .OC0 coo for non-ro
| porting State banks.
! The cash held in all national banks
| state banks. and trust Comranics. an
| in the FCderal rnservc banks was rc
ported at SlT6N OlooHo. an increase 1
\ cash holdings of all banks during tn
! ycar Of sl%l .0)0r"~.
| Tho total money ~ the United state
! IN Iunc. 1aI5 was reported at S3.aSa 0nO"
| of which the money hold by all report
: iuG hanks was nlaccd AZ sl.,tn,0Nn. .CE
| The amount Of money in the noclIcts n
| the neonle that is to say. not held /
| the Treasury and not held in the banks
Il placed at 81 N>.cH.no.