Evening star., 1937-11-11
Number of Banks Reduced.

lNuHUeT Ol bdUkS ncuuCfO.
The November Bulletin just issued
by the Federal Reserve Board reports
that during the years 1s21-1s36 the
number of national and State banks
in operation decreased by 1929 from
29,206 at the beginning of 1921 to
14968 at the end of 1886. The num-
ber of national banks decreased during
the 16-year period from 1924 to 5.325,
or by 2.799, and the number of State
banks decreased from 21082 to 9,643,
or by 11,439.
The net decrease of 1929 during
the period 1921-1936 in the number
of operating national and State banks
is accounted for principally by the
suspension of 14,344 banks, the con-
solidation, merger, or absorption of
6,852 banks, and the liquidation of
1,l4l banks. The decreases were off,
set in part by the organization of
4,601 new banks during the period,
and the licensing and reopening of
1888 banks which we're not granted
licenses by June 80, 1888 and we're
counted as suspensions in 1888.
OF the 4,6O1 new banks which were
organized during the period, 1,437
were national banks and 3,164 were
State banks The number of national
banks discontinued through consoli-
dation, merger or absorption during
the period was 2.054 and the number
of State banks thus discontinued was
4,798. The 14,344 suspensions in the
16-year period comprised 2,719 ma
tional banks and 11,625 State banks.
banks into national banks and 254
conversions of national banks into
State banks during the 16-year period.
The District of Columbia had Is
national banks and 80 State banks
in 1921; nine national banks and 13
State banks at the end of 1886, the
report said Maryland had 90 ma
tional banks and 143 State banks in
1921, reduced to So national and 124
State banks in 1886 In 1921 Vir-
ginia national banks totaled 167 and
State banks 337 in 1921 which had
been reduced to 1872 national and 1913
State banks by the end of 1886, the
Bulletin states, trust companies being
included in the State bank list.
Heard in Financial District.
The District of Columbia Building
and Loan League has arranged spe-
cial luncheon in honor of Edward c.
Baltz, recently elected president of the
United States Building and Loan
League, to take place Tuesday, No
vember 80, at the Raleigh Hotel The
members of the local league are elated
over having the president of the ma
tional organization selected from
Washington.
B. Russell Shaw, vice president of
the Morris Plan Bank, addressed 40
members of the American Business
Club at their weekly meeting at the
Hay-Adams House on Public Rela-
tions." He cited President Rosevelt's
salutation "My Friends" as a great
public relations message, and advised
constructive advertising and new serv-
Ices as ways to gain customers. The
organization is composed of young
business men who meet to exchange
progressive ideas.
Announcement of a 75-cent divi-
dend by the Pennsylvania Railroad
was the best news stockholders here
have received in several years. 1t will
be paid on December 20, following a
distribution last July of so cents a
share.
State and municipal financing for
October aggregating $36,199,804, as
compared with $82, 1911 ,O50 in October,
1886, according to the Daily Bond
Buyer. The total for the first 10
months of 1887 is $685., ,439, ,434, as
compared with $987, ,921 ,607 for the
same period last year. Last months
total was the smallest october total
since 1881.
The Washington Stock Exchange
was closed today, following the lead
of the New York Exchange which
always shuts down for Armistice Day
Bankers here report there has been
marked revival in the buying of
Government bonds during the past 10
days.