The Washington times., 1916-01-10

the interest rate must not exceed the
reserve bank discount rate,
ITO authorize national banks to estab-
lish branches in the United States.
TO permit branch banks in Alaska
aud insular possessions. =
ITO authorize a minimum interest
charge of % cents on small loans.
ITO authorize the Comptroller to bring
proceedings against directors for losses
sustained by a bank through violation
of the national bank act
The Comptr.'er refers to several
cases where national bank directors were
REQUIRED during tt year to personally
make good to their respective banks
losses sustained through ultra wires in
vestments in stocks, including one bank
whose directors put up 100000 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, 1914, to November 10.
1915, deposits In the national banks in
creased SOS 600,
The total resources OF national banks
November TO- 1915, amounted to 1885,
000. 900. against S3.423, 900. 900 September ",
1895, an increase of nearly $4,000, 600 900,
the resources now being nearly four
times what they were in 1885
November 10, 1915, exceeded by 1851. co.,
900 the greatest reserves ever held at
any time prior to the passage of the
Federal reserve act.
From october 81, 1914. to november TO-
1915, the available cash resources of all
national banks, including specie, bank
notes, balances with reserve agents, eX-
changes for clearing house, etc, in
creased $S62. OO0.O0O while the liabilities
of the banks for the period named. on
~ NlaTN atad nj
borrowed bonds, were reduced more
than 800 100000.
The liability of national banks on ac-
count of circulation was reduced from
81 ,OiS. 900. 900 on October 81, 1914. to Sl3,-
100000 November 10. 1915. reduc-
the retirement of the emergency cur
rency,
on February II, 1914. the national
banks in the twelve Federal reserve
cities held on deposit for other banks
throughout tho country total OF 81
81, 900, OOO on November 10, 1915. this
balance had increa sed to 81, ss9, 90. 900. an
increase of 1917 100000 notwithstan dinE
the fact that the member banks had at
the same time accumulated to their
credit in the twelve Federal reserve
! banks an aggregate OF SS59,00O 900.
The total number OF banks shown is
| 7.6OS national banks and l9.4S7 state
banks. trust companies, savings banks
etc.
Reports are also submitted for 3.0O'
| State institutions which failed to send
, rencrts and whose stRtementS were esti'
| mated in making ND tho tct2ls. maklne
grand total Of all banks Of aO,C61 viii
! a paid in capital OF s., 30 100000 of which
| 81, O6S 600 900 was for national banks
! 81. 90 100000 Cor State banks. etc, and
| $50 600 900 for the non-reDorting banks
| The aggregate deposits, exclusive Of
Federal reserve banks were $40 SIC, OoO 900
! including $685. con 900 for national banks
| $40 ES5 900 900 for the repoTting State in.
| stitutions. and 34l2 coo OCO coo for non-re
porting State banks.
| The cash held In all national banks
| state banks, and trust Compsnies. AND
| IN the Federal reserve hanks. was re-
ported at Sl.769 OlO.0AO an increase II
! cash holdings Of all banks during The
! year OF 1881 .000ioOo
The total money IN the United state,
In June. 1918. was reported At S3.aSs 0lo,O0
| OF which the money held by all report
! ing banks was nlaced AZ Sl16O OOO, O0O
| The amount Of money I'm the rockets n
| the nPople. that is TO say. not held n
] the Treasury and not held in the banks
Is placed at fl.S0S.00O.00O.