New-York tribune., 1920-01-12
8,0oo,O00,0oo Is
Represented by
900 State Banks
Branch Offices Opened in
ManyForeign Countriesby
New York Institutions to
Advance American Trade

ALBANY, Jan. 11.-A the close Of
1919 there were $40 institutions, firms
and individuals under the supervision
OF the New York State Banking De-
partment, with resources of nearly
$4,000, 100000, it was reported tonight
by State Superintendent of Banks
Skinner.
To maintain the position of the
United States in international COM
merce, branch Offices have been opened
by New York State banking institutions
in the West Indies and South America
and all along the Pacific coast of Asia.
In order to make satisfactory exam
nations of our institutions maintaining
foreign branches, it is desirable at leas.
once each year to examine foreign
branch Offices on the same date at
which the examination Of the main
office is commenced, and this has been
accomplished by sending a force of
examiners to Europe.
National Banks Converted
Superintendent Skinner reports that
there has been a marked recurrence to
the general tendency of national banks
TO convert into state banking institu-
tions or consolidate with them. On
this question his report says:
From the revision of the banking
law, in 1914, to the entrance of the
United States into the European war
the conversion of national banks into
state banking institutions or their alb
sorption by state institutions became q
very marked feature of banking in this
state.
"Since the revision no less than
twenty-six national banks have been
converted into state institutions or
have been absorbed by them, although
during the war such conversions were
not encouraged or at times permitted
by this department, as any disturbance
OF existing banking conditions was
deemed unwise.
The last year has been distinguished
by marked recurrence to this gen
eral tendency. Nine national banks
were converted into state institutions
during. the year or consolidated with
state banking institutions. At leas,
two such conversions or consoliua-
tlons are in progress"
Branch Banks Opened
Referring to the development OF
| branch banking in New York State, the
report says:
while there has been very con-
siderable development of branch bank
ing through the opening and main
tenance of branch Offices during the
year, this department has endcavored
to be as conservative in the approval
of new branch offices as in the au-
thorization of new institutions. A
number of new branch Offices, however,
have been approved in interior cities
of the state, where branch banking, if
practiced at all, has been attempted
only on very limited scale.
"A large number Of branch Offices
have been established in other coun-
tries, mahy of them in the Orient, by
investment companies organized for
the purpose of promoting our foreign
trade, and enabling this country to
retain that position in international
commerce which it for the first time
attained during the European war.
THE sale of Liberty and Victory
bonds to individuals as a result the
patriotic appeals made to them during
the war, the general ownership of Sc
enrities resulting from such appeals
and the great increase in the wealth
of the country as a result Of war activ-
tiles and opportunities, has resulted in
a great demand for safe deposit boxes,
and this demand has been largely met
by an increase in the branch Offices of
such companies"