Omaha daily bee., 1916-11-02
FIGURES GIVEN ON
THE RESERVE BANKS
Growth Since Passage of Act
Put at Over Six Billion
Dollars.
A PERIOD OF THREE YEARS

Washington, Nov. 1.-Growth of
the country's banking resources since
passage of the federal reserve act is
put at Sc, 50O000,OO0 in statement is
sued today by the comptroller of the
treasury. The record is declared to
be without a parallel.
The figures cover the period from
July, 1913, few months before the
act was passed, to July, 1916, includ-
ing nearly all of the first two years of
the European war.
The increase i'll resources, it is de-
clared, is greater than the total re-
sources of all the country's national
banks little more than decade ago.
In New England the three years in
crease has been Fl per cent, in the
eastern states 81, in the southern II,
in the middle states 81 and in the
west 81.
Jump in Deposits.
Deposits since the reserve act went
into force have made an unprecedeht-
ed jump also. Their total increase is
put at $6,25O,OOO,OO0, or 81 per cent,
nearly as great as the resource in
crease. In New England it was %
per cent, in the east SO, the south Is,
the middle states 70, the west 81 and
the Pacific states 10. '.-
Banks and trust companies are lend
ing $3,250,000,000 more than they were
three years ago, the statement says.
Emphasis is laid upon a distinct and
growing tendency towards decentrali-
cation and distribution of excessive
reserves heretofore piled up in eastern
cities" This has been especially true
during the last few months In the
four and one-half months from May
to September IL, this year, deposits
in New York City decreased nearly
$250,000000, increasing heavily mean
while i'll country banks.
Figures Outside of East.
Outside of New England and the
eastern states the following states
show a notable resource increase in
three years: - sg ~
Illinois, $363,OOO,0 900, or Copper cent;
Ohio, $3l7, 100000, or % per cent; Cal
ifornia, $247, 100000, or 20 per cent;
Michigan, $221 900, 900, or 81 per cent;
Minnesota, $l9800O,OOO, or 40 per
cent; Missouri, $116,0O0O00, or IA per
cent; Iowa. $107 100000, or II per
cent; Wisconsin, $88, 100000, or 81 per
cent; Nebraska, $78,0O0,000, or % per
cent; Indiana, $6o,00O,0OO, or IS per
cent; Oklahoma, sos, 10000, or Al per
cent; Kansas, $63,000000, or "a per
cent; Texas, $6O,000,000, or IL per
cent; Virginia, $52,000000, or q per
cent; North Dakota, $47,00O,000, or AZ
per cent; Colorado, $42,000,0O0, or %
per cent; South Dakota and Montana,
$37, 100000, or 80 per cent each.
Resources by Sections.
The total resource increase in the
south was 1902, 100000; middle states,
81 ,4Sl 100000; western states, $780,
100000; Pacific states, $325,000 900; in
sular possessions, $4,000, 000SHA Among
the New England states ssachu-
sets was first with $429, 900, or %
per cent, followed by Cd lecticut
with $l17000,000, or % ~ cent;
Rhode Island, $36,00O,O00, or IA per
cent.
In the eastern states New York
states increase was $2,646,000,000, or
Al per cent; Pennsylvania, $467, 000,-
900, or II per cent; New Jersey, $780,
100000, or u per cent; Maryland, $685.
100000, or II per cent
'All the states of the union except
three show great increases in deposits.
The exceptions are Alabama, Missis-
sippi and Oregon. The states showing
the highest percentage of increase in
deposits are: Oklahoma. 81 per cent;
Arizona, So; North Dakota, 81, and
Wvpr,,ipo 40