The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1919-05-16
TREASURY DEPARTMENT
Washington, May 7th, 1919.
Comptroller of the Currency.

w nay 'tis iVi o'
Comptroller of the Currency.
NATIONAL BANK FAILURES AP-
PROACH THE VANISHING POINT.
GROWING APPLICATIONS FOR
NEW CHARTERS AND FOR PER
MISSION TO INCREASE CAPITAL.
STATE BANKS AND TRUST COM
PANIES CONTINUE TO NATION
ALIZE.
Nothing can demonstrate more
strongly the solid foundation upon
which our banking and currency
structure now stands and the i'm
proved manner in which the National
Banks of the country are being oper-
ated and safeguarded than the record
they have made in the past sixteen
Notwithstanding ten months of
the stress and trial of war and six
months of the dislocation and strain
of reconstruction.
The official reports show that today
there are more National Banks in
operation, with larger capital and sur
plus and greater resources, making
bigger dividends, and with a more
striking immunity from failure than
ever before in our history.
A knowledge of these facts must
necessarily give inspiration and fresh
courage to all business men, for our
economic history shows that every
commercial panic and business pros
tration in the past has been precipi-
tated by financial disorders and bank
ing crises.
ASSURED OF HEALTHY BANK
ING CONDITIONS, AND AN ABUN
DANCE OF MONEY AND CREDIT
TO MEET ALL NATURAL AND
LEGITIMATE REQUI r f NJ f N rs,
IT H f COMMERCIAL. AGRICUL-
lTURAL AND INDUSTRIAL ENTER
PRISES THROUGHOUT OUR EN-
TIRE COUNTRY CAN PROCEED
WITH THEIR PLANS FOR THE
present AND THE FUTURE
WITH UNEX LED CONFI-
lDENCE AND RESOLUTION.
The following figures emphasize
the increasing safety, the unparalleled
ed immunity from failure, and the
steady growth of the National Bank
ing System.
In the four months ending April
Both, 1919, there was only ONE
National Bank failure in the entire
country-a small bank with $4,000
capital. During the THREE months
ending March 31st, 1919 april re-
turns not receiveD there We're
twenty-four failures of banking insti-
tutions under State supervision in
Guiding Banks and Trust companies
an average of approximately two a
week.
For the SIXTEEN months period
from January 1st, 1913 to May 1st,
1919, there have been only TWO
National Bank failures in the entire
country-an average Of one each
eight months. In the FIFTEEN
months period from January LIST, 1918
to April 1st, 1919 april reports not
yet in) the returns indicate failures
of between Fifty and Sixty State
Banks and Trust companies under
State supervision.
During the FOUR months ending
April Both, 1919, 131 applications
were received for charters for NEW
National Banks, and 113 applications
for increases in capital of existing
National Banks were approved-mak
ing total of 244 applications for
new charters, and for increases of
lcapital approved.
In this period, 81 charters were
granted for new National Banks; 3
requests for charters were refused,
and 191 applications for new charters
are now pending, including Forty re-
Quests from State Banks which seek
permission to convert into National
Banks.
There were more than SEVEN
TIMES as many applications for
NEW CHARTERS and approved ap-
piications for INCREASES OF CAP
ITAL in this period as there were
voluntary liquidations Exclusive Of
those consolidating with other Nation
al Banksl 244 such applications
Iagainst a total of 33 voluntary liqui-
dations.