The Washington herald., 1920-03-12
BANKS REPORT
Big EXPANSION
Past Six-Year Growth
Overshadows Entire Pre-
vious Period.

John skelton Williams. Comp
troIler Of the Currency. has issued
the following statement on national
bank conditions throughout the
country:
The national banks Of the coun-
try held on December 81. 1919. ac-
cording to the official figures just
| compiled. resources of s22,711,375,
600, exceeding by S2ss,3s3.ooo the
| greatest amount ever previously re-
| ported The increase in resources
! December 81, 1919. as compared
with December 81. 1913, was s2.sss.-
ISL. 900.
"As the total resources of all ma
tional banks at the time of the call
Of January 10, 1914, amounted to
81. .2ss. 1855. 900. there has been an in
| crease since that date of $11,415,-
02o, 900, or more than 1o1 per cent.
| THE national banks have there
fore grown more in the past six
years than in the entire period of
tion of the national banking system
| In 1858 up to January Is, 1914.
y Cash o. Hand.
| The total caSh on hand and due
| frcm Federal Reserve banks Decem-
ber 81, 1919 Uncluding lawful re-
serve and items with the reserve
/ banks in process OF collection)
amounted to $2.277,3l2.00O (of which
4 s50s, ,605, 900 was cash In vault).
being an increase in the total. as
/ compared with November II. 1919,
Of $Ss,557,000, and an increase as
compared with December 81, 1918, OF
s2sS, 100000.
Loans and Discounts.
Loans and discounts exclusive
/ of rediscouuts) on December 81.
1919, amounted to s11,7ss.227,000, an
/ increase as compared with Novem-
Der II, 1918, of s225. 900, and an
4 increase over December 81, 1913, of
\ Is1,S67,ss3. 900. The proportion of
| loans and discounts to deposits on
| December 81, 1919, was 65.97 per
cent, as compared with S4.3l per
cent on December 81, 1918.
Government and Other Bonds.
United States government Sc
curities held December 81, 1919.
| aggregated $2,723.493!O00. of which
! approximately $500. 900. 900 were old
! United States bonds deposited to Sc
l. cure circulation-the balance was
represented by United States liberty
bonds and other war issues. The
total reduction in the holding OF
government securities as compared
with November II. 1919, was $685.
3ss, 900, and the reduction as COM
pared with December 81, 1918, was
$685., ,s01. .000-despite the fact that
the Victory loan of s4.5o0.O00,0oO
was foated during the year and
largely subscribed for through ma
! tionsl banks.
Other bands. securities. etc. held
by national banks on December 81,
1918, amounted to $1.S74,02S, 900
an increase over November II. 1913.
| of $3.925,000. and an increase over
December 81, 1913. Of $1s0,s57,0oo.
Circulation and surplus.
Circulation of national banks
December 81, 1919. was $6S5.769,e00
an increase over November II,
1919. of s4.Ss0.000. and an increase
over December 81. 1913. Of ss.s42.-
! 900.
Capital. surplus and undivided
profits of all national banks Decem-
Der 81, 1919, amounted to S2,456.-
301. 900. an increase over December
81, 1918, of s162,6sS,00o.
Bills Payable.
Bills payable of national banks
December 81, 1919. amounted to
Ss38.311. .o0o-a reduction as COM
pared with November II. 1919. of
s123.844.000. but an increase as
compared with December 81. 1918.
of s5s.4s3.o00.
| ssrbair radiscoupts rh;cb IN na
cember 81. 1919, amounted to Ss73,-
$4,000. represent an increase over
November II, 1919, of s2s3.023,000.
| 1918, of S471.492.000. The borrow
ings and rediscounts of national
banks are largely the result of
their holdings of and loans upon
United States government war is
sues-principally Liberty bonds.
Victory notes and certificates OF
Indebtedness.
The lawful reserve carried with
Federal Reserve banks amounted,
on December 81. 1919. to S1,312,-
| 10000. which was $101. .02s,000 in
excess of the amount required. The
total reserve carried on December
81. 1919. showed an increase of
$49.773.000 over November II, 1918,
and an advance of $131,s49,00 as
compared with December 81. 1918.
The reserve carried December
81, 1919. by the national banks was
in excess of the amount required
by law in each of the twelve Fed
! eral Reserve districts. The excess
| of legal reserve on December 81.
1919. was the largest reported at
any call since June 80, 1919"