Evening star., 1933-08-16
1881 Licensed Banks 0p-
Grating, With 2,870 Closed
or Restricted.
RECORDS ARE GIVEN OUT
BY WALTER J. CUMMINGS
Show State of Business as Closed
August IL for Member
Institutions.

virtually back on its feet.
The records of Walter j. Cummings.
executive assistant to the Secretary Of
the Treasury, today showed 1881 Ii
| censed banks operating without restric-
tions and only 2,870 closed or operating
on restricted basis. These figures in
clude National banks and State men,
| bers and non members of the Federal
Reserve System, but exclude mutual
| savings institutions.
The record Is as Of the close Of
business August - for member institu-
tions and as of July 26 for non-mem-
bers.
Held Bank Opener"
| Cummings, brought to Washington
by Secretary Woodin and regaled with
| the unofficial title of bank opener" E"
said that on August II there were A.
| 961 National banks doing an unre-
stricted banking business with deposits
of s16938,14 600; that TAO State mem
berS banks with deposits Of S974l 900,
and $3.50 non-membres having deposits
Of s5,057, $4,000 were operating on a
| full-time basis on July 26.
! The deposits are as of December 81,
| 1882. as there has been no assembled
i condition report OF banks since that
time.
The next such condition report, based
| on the National bank call by the con-
= troller as Of June 80, will be made in
about two weeks.
| The figures in Cummings report were
taken from official records of the
controller of the currency for national
and State member banks, and from
Federal Reserve Board records for non
members.
On the inactive side, it was found
that on August Il there we're yet closed
or operating on restricted basis 909
national banks, having deposits of
! 1854 ,304 900: 95 State member institu-
| tions, with deposits of s2O4 $4,000, and
1856 non-member institutions, exclusive
| of mutual savings banks, with deposits
of S1,005, 1865 900.
| The composite picture shows deposits
in open banks of 3l,737 728,000. while
total Of $2,163 ,803 900 was tied up in
closed or restricted banks.
The picture is even brighter, Cum
mings said, when cognizance is taken
of the many details entering into the
task of reopening an institution In
| this connection he pointed out that of
| LAC ooo AloblOlldl SLIli SlOScO VI
unlicensed, BIT have received the official
20. K" of the Treasury and are raising
money provided in approved reorgani-
zation plans. This will involve the re-
lease of 100000 900 more in deposits,
he said.
Cummings said every closed banking
institution in the United States had
been examined by the Treasury since
the banking holiday in March.
Table Prepared by Cummings.
In this table. prepared by Cummings,
IS the composite statement of the bank
ing structure in the United States at
the close OF business August 12
Licensed banks unrestricted)-
National banks S4asfF 4as1 3sPGsIts 14s 600
State member banks 74O 914I,9S7 900
Non-member bank
exclusive of mu-
tua savfngs
banks .........t 1880 5.O57,596 600
Total ....... 1881 s31,737,72s 900
Unlicensed banks CLOSED or restricted
National banks 300 sa54.304 600
State member banks 95 2O4,I34 600
| Non-member banks
| exclusive of mu-
tua savings
banks t1,s66 1.005.365. 900
Total ... 2.s7o Sales, ,s03, ,O00
90 AS asat Of December 81, 1889. Jas of July
d. c. Average Low.
In Washington the percentage of
banks reopened since the bank holiday
is considerably below that for the Ma
tion. However, progress is being made.
with prospects that most of the remain
ing restricted institutions soon will be
doing business again,
Only one of the 13 unlicensed banks
has actually re-opened for business. the
Chevy Chase Savings Bank, which is
now branch Of the Riggs National
Bank. Negotiations for this purchase
were under way before the bank holi-
day
OF the remaining IL unlicensed banks
eight are members of the proposed
Hamilton National Bank merger, which
Is getting ready to open. No date has
yet been fixed for the opening, how
ever The members of the merger are
Federal-American National Bank &
Trust Co., the District National Bank
Potomac Savings Bank, Northeast Saw
ings Bank, Woodbridge Savings
and Commercial Bank, Washington Saw
ingS Bank, United States Savings Bank
and Seventh Street Savings Bank.
The other unlicensed banks in the
city are the Franklin National Bank,
the Mount Vernon Savings Bank the
Industrial Savings Bank and the Park
Savings Bank. The Park Bank is in
the hands of receiver, for liquidation.
AL the other unlicensed banks are in
the hands of conservators.
The Commercial National Bank went
into the hands of receiver late in
February, and is now being Iquidated.
I