The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1920-07-23
OVER TWENTY MILLION
PEOPLE ARE ON LIST
GOPHER STATE SHOWING
Amount In National Institu-
tions $1s, 5ss. 1903, 900; Figures
From Comptroller


stantly widening diffusion of wealth
in this country. On May 4, 1920, the
number of deposit accounts in our
national banks reached the unprece-
dented total of 20,3S0,350, an aver
age Of one deposit account for eve
ry five and one half of our popu-
lation This is an increase of 12,-
6S9, 1872 or 165 per cent in ten years.
Pennsylvania led all the states
with 2,589,697 deposit accounts in
her national banks. New York state
next with 1,6S1,581 deposit accounts.
Illinois 1,197,Q4O; Ohio 1,124,4S2,
Texas 1,1O9,972. The other states
whose national banks reported $780,
600 or more deposit accounts We're:
California, 79S,697; New JERSEY. no.
1903; Minnesota, 645,320; Indiana,
606,319; Virginia, $50, 259; Iowa,
583,078; Massac husetts, $685.; Wis
consin, 56S,O43; Oklahoma, 525, $40;
The resources Of the national banks
Of the country at the time of the May
4, 1920, call, as just compiled, aggre-
gate 200, being the high
est point ever reached with the sin
gle exception - of December 81, 1919,
The increase in resources since Feb
ruary %, 1920, was, $176,174,000, and
the increase since May II, 1919, was
$1,213, 723,000.
Demand and Time Deposits.
Individual demand and time depos-
it's on May 4, 1920, stood at $685.
90S, 900, being an increase over Feb
ruary %, 1920, of $230,541,000 and
an increase as compared with May
IL. 1919, of $1,701, $4,000. United
States deposits on May A, 1920, were
elk ono Q00 IN incraaca nUpr FQhr-
uary %, 1920, of $47,2S6,OO0. The
amount due to other banks and bank
ers on May 4, 1920, was $3,275, 49,
900, which represented reduction of
1913, 100000 as compared with Feb
ruary. 90, 1920, and reduction as
compared with May II, 1919, of $685.
031,000. The net reduction therefore
in individual, bank and United States
deposits, on May 4, 1920, as compar-
ed with February %, 1920, was $40,-
$4,000. Total deposits on May 4,
1920, including Individual, Bank and
United States, were $16,9 24543, 900.
The ratio of loans and discounts
to deposits May 4, 1920, was 1881 per
cent, which compares with 62.2S per
cent May IL, 1919. With net re-
duction in deposits of S40,579,000, we
find that loans and discounts on May
4, 1920, amounted, to 12,2SS, $50, 900,
an increase since February %, 1920,
of 1924, 05S, 600. The increase in loans
and discounts was provided for prin-
cipall'- by drawing down the balances
due from other banks and bankers
which, on May 4, 1920, amounted to
So, 159, 232 900, areduction as compar
ed with February %. 1920, of $207,307,
600.
Reduction In Loans.
n2%x TAh 10On nd
May A. 1920, the reserve and central
reserve cities Of the country, out
side of New York City, showed net
reduction in loans and discounts Of
something less than 100000; thir-
ty-three reserve and central reserve
cities, outside of New York City,
showing a reduction in loans and
discounts and thirty two cities
slight increase. The principal in
crease in loans and discounts from
February %, 1920, to Maiy 4, 1920,
took place in the country banks, and
amounted in these banks to SIT, 496,
900, the country banks in forty three
states showing m increase, while in
the states of North Carolina, Missis-
sippi, Louisiana, Nebraska and Idaho
small reductions were reported.
United States government securi-
ties held on May 4, 1920, footed up
to s2,375, sol, 900. being a reduction
as compared with February cS, 1920,
of $S3,623, 900, and a reduction as
compared with May IL 1919, of ST.,
656, $4,000. OF the $2,375,801, 900
United States government securities
held May 4, 1920, 704 million were
old bonds held to secure circulation,
779 million were United States Lib
>erty bonds, 25S million were Victory
N1fo oil nj ~ az
were United States certificates Of In.
debtedness.
The Liberty Bonds.
The total amount of Liberty bonds
held as collateral by all national
hanks on MAY 4, 1920, has been re-
duced to $677.O00,00O, and the total
amount of Victory notes so held to
1928, 100000 The total amount of
United States certificates of Indeb-
tedness held as collateral by all the
national banks of the country on May
4, 1920. was reported at something
less than $25,00O,000.
The total cash on hand and due
from federal reserve banks (including
items with federal reserve banks in
process Of collection) amounted May
4, 1920. to $2,177.21S,O00, an increase
over February %, 1920, of $76,317,-
900, and an increase as compared
with May ~, 1919, of s251,372, 900.
The total bills payable and redis-
counts for all national banks May 1,
1920, was $2265, 100000. being an in
crease over February %, 1920, of 200
million dollars, and an increase as
compared with May II, 1919, of TT
million dollars.
The Bills Payable.
The bills payable of all national
banks on May (, 1920, amounted to
$1OS1, 900 900, Of which 952 million
dollars were with the federal reserve
banks. The total rediscounts of all
national banks May 4. 1920, was ST.
$4,000, 900, of which 993 million dol
lars were with the federal reserve
banks. AS the total of bills payable
and rediscounts, s2,2S5. 000. 900. in
cluded bills payable and rediscounts
made by the smaller banks with the
larger banks and subsequently redis-
counted by the larger banks with the
federal reserve banks, it should be
noted that the actual amount of bills
payable and rediscounts outstanding
is, on account Of some being report
ed twice, considerably less than the
aggregate OF the figures given here.
Bonds and securities, other than
United States securities. held May 4,
1921, amounted to 81 ,8S5 900 900. a
reduction since February e, 1924, Of
"a MILTON dollars, but an increase
since May II 1919, Of S2 million dol