The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-01-16
ENORMOUS GROWTH
OF NATIONAL BANKS

Washington, Ian. 15.-The comp
trailer Of the currency. said today:
The GENERALIZATION OF the tountry's
ranking power formerly SO largely
concentrates in a few large cities, Is
yivIdlT Indicated in an analysis which
has 1pst been COMPLETED relative to
the geographical location at tht. time
of the country's 126 biggest national
banks. The list includes all national
banks whose resources on November 7
1879. amounted to s2ssodo, 900 or mora.
The statement referred to also illus.
trates the astounding growth which has
taken place in the country's banking
since 1898. On September :. 1898. there
were nineteen national banks In the
Emitted States having Of -
much rs s25,60ooo0 each; and Of these
nineteen banks, fourteen. or "a per cen
we're located in New Fork city. one In
Eoston&one in Philadelphia. two In Chi
cage ana one In ST Louis.
On November T.. 1919, there were Ize
national Banks having resources of
more than S25. 900. 00a. Twenty-Five, or
less than 81 per cent of these banks.
as compared with "a per cent IN 1892
were located in New York state TALL
peing In New York city,: seventeen IL
Fennsylvania; nine In California; seven
eaen IN Illinois, Missouri and Texas: six
N virginia. Ave each In Massachusetts,,
minnesota and Ohio, three each in Col
g1sco ana Oregon, W. each IN Georgia
incaana. Maryland, Michigan, Nebraska
New Jersey and washtn Ston. and one
saoh IN Alahama. District of columbia.
heneuckv. Louisiana, Oklahoma Ten.
nsssee n wisconsin-
IN 1892. as shown shove. Hve cities
IN the United States contained the nine
teen national banks with resources ~
s2s,ooo,ooo Or more.
To-Day tbs 12o national banks ~ttes
s25, ooo.ooo or more are a~istrfnptrd
among t~hirty-niae cities. OF those
ranks forty-nine are IN the New Eng
land Ard L!adls-AtiaAt4e tsees4 .ucfut.
ing the cities OF Boston s, New York -
Albany 2. Bafhio 7, P~h.iadelphiA 10.
Pittsburg s, Scranton / and Newark e.
ThsTs are IN Maryland. District OF Co.
iuHabia and the southern states - Of
the big banks including the cities Of
Baltimore 2, Washington /, Richmond
Z, Norfolk !. Atlanta ?, Nashville Z.
Locis~ille !, Birmingham 1, New Or
leans !. Dallas 3. Houston e. Fort
Worth 2 and Tulsa / Thirty-four Of
the biggest banks are il the Central
West n the West Including the c!ttes
OF Cleveland 2. Cincinnati .. Toledo I
Indianapolis ?. Detroit :, Chicago !.
Milwaukee /, St Louis Q. Kansas CITY
(. Omaha .. Denver 8. Minneapolis Z. ST
Paul 2 and Duluth J. In the Paefnr
states the cities containing ~ Of the
large banks are San Francisco s. Los
Angeles 4. Portland 3 and Seattle e..
The big banks TO a large extent ar~
the logical result OF the Tremendous
growth of our Industrial and CONNER
ctal units. The banks OF the country
have kept step with the expansion In
the business of their customers. aad By
Increasing their capital and
are enabled to meat the increasing de-
mands upon them for credit and loans.
They facilitate local development By
making it unnecessary for business
raen to go away from home for bank
accommodation as had hsen usual In
:ha past
The fetal resources OF ai1 tbs na~
tionaI banks on November II. 1878.
were s22444.sa2. coo. and $40. sss, s-s, oee
Of these resources were held by the
100 largest national banks; but thess
big banks we're. as shown above. thor
oughiy distributed throughout the coun-
try in every section and there 10 no
longer thai congesttor OF the countryss
banking power In = few large cities
which had been in evidence before the
inauguration OF the federal reserws
system.