ANNUAL REPORT OF THE Comptroller of the Currency DECEMBER 2, 1929 UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1930 For sale by the Superintendent of Documents, Washington, D. C. - - Price $1.25 (Cloth) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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Annual Report of the Comptroller of the Currency 1929
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ANNUAL REPORT OF THE
Comptroller of the Currency
DECEMBER 2, 1929
UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON: 1930
For sale by the Superintendent of Documents, Washington, D. C. - - Price $1.25 (Cloth)
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TREASURY DEPARTMENT
Document No. 3018
Comptroller of the Currency
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CONTENTS
PageSubmission of the report 1Legislation recommended:
Amendments to national bank act 1-10Amendments to the laws of the District of Columbia 10, 11
Branches:Statement relative to 11Domestic branches of national banks—
Table showing, by States, number and manner of acquisition ofbranches during year ended October 31, 1929 12, 13
Table showing, by States, number and class of branches closedduring year ended October 31, 1929 13, 14
Organization and liquidation of national banks, year ended October 31,1929, and since establishment of system 15, 16
National banks in the trust field:Statement relative to • 16-18Fiduciary activities of, in 1929, segregated according to capital- __„_ 19, 20Fiduciary activities of, by Federal reserve districts, June 29, 1929-_ 21
National-bank failures:Statement relative to . 22-25Financial operations of division of insolvent national banks from
September 30, 1928, to September 30, 1929 „. . 25, 26Capital, date of appointment of receiver, and per cent dividends paid
by insolvent national banks, the affairs of which were closed duringyear ended October 31, 1929 26, 27
Bank failures other than national, year ended June 30, 1929 . 28National-bank circulation:
Statement relative to ~ 28Bond transactions relative to, year ended October 31, 1929 - 29Statement of capital stock of national banks, national-bank notes,
and Federal reserve bank notes outstanding, bonds on deposit, etc.,November 1, 1929 29, 30
Redemption of national and Federal reserve bank circulation, year endedJune 30, 1929 30
National banks of issue 30, 31Condition of national banks at date of each report called for during year
ended October 31, 1929 31Principal items of resources and liabilities of national banks, October 4,
1929, by States . 32, 33National-bank liabilities on account of bills payable and rediscounts at
date of each call during year ended October 31, 1929 34Loans and discounts of national banks:
Classification of December 31, 1928, and June 29, 1929-_- 35Classification of, by reserve cities and States, June 29, 1929--., 36-39Comparative statement of, for the last three fiscal years, in central re-
serve and other reserve cities, all reserve cities, and elsewhere-- 40Comparative changes in demand and time deposits, loans and discounts,
United States Government and. other bonds and securities, and theamount of lawful reserve of national banks since June 30, 1925 40
United States Government securities held by national banks June 29,1929:
Classification of, by reserve cities and States 41-43Investments of national banks:
Comparison of, June 30, 1928, and June 29, 1929 43United States Government, domestic, and foreign bonds, securities, etc.,
owned by national banks June 29, 1929:Classification of, by reserve cities and States 44-47
ni
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IV CONTENTS
Per capita individual and savings deposits in all reporting banks June 29,1929:
Statement, by States, showing approximate population, individualdeposits, per capita individual deposits, savings deposits and percapita savings deposits „ 48, 49
Savings deposits and depositors in all reporting banks, according to classof banks, June 29, 1929 50-55
Earnings, expenses, and dividends of national banks:Comparison of, years ended June 30, 1928 and 1929 56Abstract of—
By reserve cities and States, year ended June 30, 1929 57-66By Federal reserve districts, year ended June 30, 1929 67, 68
National-bank investments in United States Government and other bondsand securities, etc., loans and discounts, and losses charged off on accountof bonds and securities and loans and discounts, years ended June 30,1918 to 1929 69
Number of national banks, capital, surplus, net addition to profits, divi-dends and percentage ratios, years ended June 30, 1914 to 1929 69
National banks classified according to capital stock, December 31, 1928:Number, loans and discounts, bonds and securities owned, aggregate
resources, capital, surplus and profits, and total deposits of 69, 70National-bank examiners, list of, November 1, 1929 70-75Convictions of national-bank officers and others for violations of the
national banking laws during the year ended October 31, 1929, list of_. 75-79Federal reserve banks:
Assets and liabilities of the 12 Federal reserve banks combined, as ofthe last weekly statement date in October, 1920 to 1929 80
Principal assets and liabilities of the 12 Federal reserve banks com-bined, on the last weekly statement date in each month, fromJanuary, 1925, to October, 1929 81
Percentage of bills discounted secured by United States Governmentobligations to total bills discounted and purchased by Federalreserve banks at the end of each month, year ended October 31,1929 82
Federal reserve bank discount rates in effect November 1, 1929, dateestablished, and previous rate with respect to all classes and maturi-ties of eligible paper 82
Discount rates prevailing in Federal reserve bank and branch citieson bulk of loans of each class made by about 200 representativebanks during week ending the 15th of the month, October, 1928, toOctober, 1929 82-84
Rates for money in New York:Range of, monthly in the year ended October 31, 1929__ „__ 85Comparison of range of, annually from January, 1920, to October,
1929 . 86New York clearing house:
Statement relative to transactions of, year ended September 30, 1929. 87Clearing house associations in the 12 Federal reserve bank cities and
elsewhere:Statement relative to transactions of, year ended September 30, 1929_ 87
Banks other than national, June 29, 1929:List of officials of State banking departments and number of each class
of banks under their supervision from which reports of conditionwere received 87-89
State (commercial) banks—Summary of resources and liabilities of, and comparison with
June 30, 1928 90,91Loan and trust companies—
Summary of resources and liabilities of, and comparison withJune 30, 1928 92,93
Principal items of resources and liabilities of, in June of eachyear, 1914 to 1929 94
Stock savings banks—Summary of resources and liabilities of, and comparison with
June 30, 1928 _ 94-96
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Banks other than national, June 29, 1929—Continued.Mutual savings banks— Page
Summary of resources and liabilities of, and comparison withJune 30, 1928 96-98
Depositors and deposits in mutual and stock savings banks, by-States, June 30, 1928 and 1929 98-100
Number of savings banks (mutual and stock), number of depositors,amount of individual deposits, and average amount due eachdepositor in years ended June 30, 1914 to 1929 101
Private banks—Summary of resources and liabilities of, and comparison with
June 30, 1928 101-103All reporting banks other than national—
Summary of resources and liabilities of, and comparison withJune 30, 1928 103-105
Resources and liabilities of each class of « 106Principal items of resources and liabilities of, on or about June 30,
1925 to 1929 „ 106National banks, June 29, 1929:
Summary of resources and liabilities of, and comparison with June 30,1928 ." 107, 108
Banks, all reporting, June 29, 1929:Summary of resources and liabilities of, and comparison with June 30,
1928 109-111Abstract of resources and liabilities of, by States . _. 111—119 tIndividual deposits in, classification of 120Resources and liabilities of, years ended June 30, 1925 to 1929 121Principal items of resources and liabilities of, in the continental United
States, as compared with similar data for member banks of theFederal reserve system „ 121
Money in the United States:Stock of, years ended June 30, 1914 to 1929. 122Circulation statement of United States money, June 30, 1929 123Imports and exports of merchandise, gold and silver, calendar years
1914 to 1928, and from January 1 to September 30, 1929 . 124Banks in District of Columbia:
Earnings, expenses, and dividends of, other than national, six monthsended December 31, 1928, and June 30, 1929, and comparison of, inyears ended June 30, 1929 and 1928 125, 126
Building and loan associations in the District of Columbia—Number of loans, installme nts on shares, and aggregate resources,
years ended June 30, 1909 to 1929 I 126, 127Building and loan associations in the United States:
Statistics relating to, by States, year ended 1928 127Mortgage loan investments held by, in 1927 and 1928, by States 128Failures of, each year 1920 to 1928 . 128
Monetary stock of principal countries of the w orld:Statistics relating to, at the end of the calendar years 1927 and 1928. 129-137
Federal land banks, condition of, September 30, 1929 138, 139Joint-stock land banks, condition of, September 30, 1929 140, 141Federal intermediate credit banks, condition of, September 30, 1929 142National agricultural credit corporatio ns 143United States postal savings system:
Statistics relating to activities of, years ended June 30,1928 and 1929_ 143-147School savings banking:
Statistics relative to, in each State, in school years 1927-28 and 1928-29-__- „_„ „ . 148
Savings banks in principal countries of the world:Statistics relative to, as of various dates-._«_. . 149-151
Resources of leading foreign banks of issue:Statistics relative to, on or about June 30, 1929_m 152
Expenses of the Currency Bureau:Summary of, in the fiscal year ended June 30, 1929 „ - 153
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VI CONTENTS
APPENDIXPage
Digest of decisions relating to national banks 157-226TABLES
No. 1. Comptrollers and Deputy Comptrollers of the Currency 227No. 2. Names and compensation of officers and clerks in the office of the
Comptroller of the Currency, October 31, 1929 227-229No. 3. Number of national banks organized since February 25, 1863,
number passed out of the system, and number in existenceOctober 31, 1929 229
No. 4. Authorized capital stock of national banks on the 1st day of eachmonth from January 1, 1925, to November 1, 1929, bonds ondeposit to secure circulation, circulation secured by bonds, law-ful money on deposit to redeem circulation, an'd national-banknotes outstanding 230
No. 5. National banks reported in liquidation from November 1, 1928, toOctober 31, 1929, the names (where known) of succeeding banksin cases of succession, with date of liquidation and capital-_ 231-237
No. 6. Capital stock, surplus, undivided profits, and aggregate resourcesof banks consolidated under act of November 7, 1918, asamended February 25, 1927, for the year ended October 31,1929, as shown by their last reports prior to consolidation. _ 238-243
No. 7. National banks consolidated under act of November 7, 1918, theircapital, surplus, undivided profits, and aggregate resources,year ended October 31, 1929 244, 245
No. 8. State banks and national banks consolidated underact of Febru-ary 25,1927, their consolidated capital, surplus, undivided prof-its, and aggregate resources, year ended October 31, 1929 246, 247
No. 9. Number and capital of State banks converted into national bank-ing associations in each State and Territory from 1863 to Octo-ber 31, 1929 248
No. 10. Conversions of State banks and primary organizations as nationalbanks from March 14, 1900, to October 31, 1929 248
No. 11. Number of national banks increasing their capital, together withthe amount of increase monthly for years ended October 31,since 1924 249
No. 12. Number and authorized capital of national banks chartered andthe number and capital stock of banks closed in each year endedOctober 31, since 1913, with yearly increase or decrease 249
No. 13. Total number of national banks organized, consolidated under actof November 7, 1918, insolvent, in voluntary liquidation, andin existence on October 31, 1929 250
No. 14. Changes of corporate title of national banks, year ended October31, 1929 251, 252
No. 15. Changes of corporate title incident to consolidations of nationalbanks, and of State banks with national banks, year endedOctober 31, 1929 253, 254
No. 16. National banks chartered during year ended October 31, 1929._ 254-258No. 17. National banks chartered which are conversions of State banks
during year ended October 31, 1929 258No. 18. National banks, by States and geographical divisions, organized,
failed, and reported in voluntary liquidation during year endedOctober 31, 1929 259
No. 19. Number and classification of national banks chartered monthlyduring year ended October 31, 1929 . 260
No. 20, Principal items of resources and liabilities of national banksclassified according to capital stock, December 31, 1928 260-268
No. 21. United States bonds on deposit to secure circulating notes ofnational banks in years ended October 31, 1900 to 1929 269
No. 22. Profit on national-bank circulation, based upon deposit of $100,000United States consols of 1930, etc., at the average net price,monthly, during year ended October 31, 1929 270
No. 23. Investment value of United States bonds—Panama Canal bondsand 2's of 1930 271
No. 24. United States bonds (circulation)—Monthly range of prices inNew York, November, 1928, to October, 1929, inclusive. 271
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CONTENTS VII
PageNo. 25. Number, capital stock, and circulation outstanding of national
banks issuing circulating notes, together with, number andcapital stock of national banks not issuing circulating notes,June 29, 1929, by reserve cities and States 272, 273
No. 26. National-bank notes issued, redeemed, and outstanding, by de-nominations and amounts, on October 31, each year, 1918 to1929 274
No. 27. National-bank currency issued to banks monthly from November1, 1928, to October 31, 1929, and since 1863 275
No. 28. National-bank notes received monthly for redemption duringyear ended October 31,1929 275
No. 29. National-bank notes received at currency bureau and destroyedyearly since establishment of system 276
No. 30. National-bank notes issued and destroyed, etc., account of active,insolvent, and liquidated banks, years ended October 31, 1914to 1929 276
No. 31. Amount, denomination, and cost of national-bank currency re-ceived from Bureau of Engraving and Printing, year endedOctober 31, 1929 277
No. 32. Vault account of currency received and issued by currency bureauduring year and amount on hand October 31, 1929 277
No. 33. Vault account of currency received and destroyed during yearended October 31, 1929 _" 277
No. 34. Amount of currency received for redemption, by months, fromJuly 1, 1928, to June 30, 1929, and counted into the cash of theNational Bank Redemption Agency 278
No. 35. Amount of currency received by National Bank RedemptionAgency for redemption in year ended June 30, 1929, fromprincipal cities . 278
No. 36. Cost of redemption of national-bank notes during year endedJune 30, 1929 , 278
No. 37. Classification of Federal reserve currency redemptions, amount re-deemed, number of notes, cost of redemption per 1,000 notes,and amount assessed upon Federal reserve banks, year endedJune 30, 1929 1 279
No. 38. Taxes assessed on national-bank circulation, years ended June 30,1864 to 1929; cost of redemption, 1874 to 1929; and assess-ments for cost of plates, etc., 1883 to 1929 280
No. 39. Federal reserve notes outstanding according to weekly state-ments (amount issued by Federal reserve agents to Federalreserve banks, less "unfit" notes redeemed), and collateralsecurity therefor, from November 7, 1928, to October 30, 1929. _ 281
No. 40. Federal reserve notes, segregated by series, printed, shipped, andcanceled, issued to banks, retired, and destroyed since organiza-tion of the banks, with balance in vaults and amount outstand-ing October 31, 1929 282-284
No. 41. Aggregate amount of Federal reserve bank notes printed, issued,canceled, and redeemed, by denominations, since inaugurationof the Federal reserve system, and amount on hand and out-standing October 31, 1929 284
No. 42. Taxes assessed on Federal reserve bank currency, cost of redemp-tion, and cost of plates, years ended June 30, 1915 to 1929 285
No. 43. National banks in charge of receivers during year ended October31, 1929, capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, and circulationoutstanding, etc 286-299
No. 44. National banks in charge of receivers, dates of organization,appointment of receivers, and closing, with amounts of nomi-nal and additional assets, amounts collected from all sources,loans paid, losses on assets, expenses of receiverships, claimsproved, etc., to October 31, 1929 300-331
No. 45. National banks restored to solvency after having been placedin charge of receivers 332, 333
No. 46. Dividends paid to creditors of insolvent national banks duringyear ended October 31, 1929 . 333-338
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VIII CONTENTS
PageNo. 47. Dates of reports of condition of national banks from 1914 to
1929 339No. 48. Condition of foreign branches of National City Bank and Chase
National Bank, of New York, N. Y., and- First National Bankof Boston, Mass., on June 29, 1929 340-345
No. 49. Number, capital stock paid in, circulation outstanding, andaggregate resources of national banks at date of each reportfrom February 21, 1921, to October 4, 1929, money in the UnitedStates, June 30, each year, etc 346
No. 50. Abstract of reports of condition of national banks in the centralreserve cities of New York and Chicago, in other reserve cities,and elsewhere, October 4, 1929 347
No. 51, Abstract of reports of condition of national banks in central re-serve and other reserve cities and country banks at date ofeach call during year ended October 31, 1929 348-351
No. 52. Classification of amounts "due from" and "due t o " banks re-ported by national banks, according to reserve cities and States,at date of each call during year ended October 31, 1929 352-367
No. 53. Classification and demand and time deposits in national banks,according to reserve cities and States, at date of each callduring year ended October 31, 1929 „___ 368-383
No. 54. Classification of bills payable and rediscounts of national banksaccording to reserve cities and States, at date of each callduring year ended October 31, 1929 _' 384-393
No. 55. Classification of cash in vaults of national banks, according toreserve cities and States, at date of each call during year endedOctober 31, 1929 1 394-397
No. 56. Gold and silver coin, certificates, legal tenders, and other cur-rency held by national banks at date of each report fromFebruary 21, 1921, to October 4, 1929 398
No. 57. Gold, etc., held by national banks in the central reserve city ofNew York at date of each report from February 21, 1921, toOctober 4, 1929 399
No. 58. Reserve computation of national banks, according to reserve citiesand States, at date of each call during year ended October 31,1929 400-415
No. 59. Abstract of reports of condition of national banks, at date of eachreport from February, 1920, to October, 1929 416-425
No. 60. Abstract of reports of condition of national banks, according toreserve cities and States, at date of each call during year endedOctober 31, 1929 427-543
No. 61. Abstract of reports of condition of national banks in each Federalreserve district at date of each call during year ended October31, 1929 544-549
No. 62. Classification of loans and discounts of national banks accordingto reserve cities and States December 31, 1928 550-553
No. 63. Classification of United States Government securities owned bynational banks, according to reserve cities and States, December31, 1928 554,555
No. 64. Classification of investments of national banks, according to re-serve cities and States, December 31, 1928 556-559
No. 65. Principal items of resources and liabilities of national banks ac-cording to counties in each State, by Federal reserve districts,March 27, 1929 561-625
No. 66. Abstract of reports of earnings, expenses, and dividends of nationalbanks, according to reserve cities and States, for the six monthsended December 31, 1928 626-637
No. 67. Abstract of reports of earnings, expenses, and dividends of nationalbanks, by Federal reserve districts, for the six months endedDecember 31, 1928 638,639
No. 68. Abstract of reports of earnings, expenses, and dividends of nationalbanks, according to reserve cities and States, for the six monthsended June 30, 1929 640-651
No. 69. Abstract of reports of earnings, expenses, and dividends of nationalbanks, by Federal reserve districts, for the six months endedJune 30, 1929 „ 652, 653
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CONTENTS IX
PageNo. 70. Abstract of reports of savings and State banks in the District of
Columbia at date of each report during year ended October 31,1929 . 654
No. 71. Abstract .of reports of loan and trust companies in the District ofColumbia at date of each report during year ended October 31,1929 655
No. 72. Principal items of resources and liabilities of each savings andState bank in the District of Columbia, October 4, 1929 656, 657
No. 73. Principal items of resources and liabilities of each loan and trustcompany in the District of Columbia, October 4, 1929
No. 74. Principal items of resources and liabilities of savings and State 658banks in the District of Columbia on or about October 1, 1914to 1929 659
No. 75. Principal items of resources and liabilities of loan and trust com-panies in the District of Columbia on or about October 1, 1914to 1929 659
No. 76. Individual statements of resources and liabilities of the 22 build-ing and loan associations in the District of Columbia, June 30,1929 660, 661
No. 77. Summary of resources and liabilities, receipts, and disbursementsof building and loan associations in the District of Columbiafor the six months' period ended on or about December 31, 1928_ 662
No. 78. Summary of resources and liabilities, receipts, and disbursementsof building and loan associations in the District of Columbiafor the six months' period ended on or about June 30, 1929 663
No. 79. Abstract, by States, of resources and liabilities of State (commer-cial) banks June 29, 1929 664-671
No. 80. Abstract, by States, of resources and liabilities of loan and trustcompanies June 29, 1929 672-679
No. 81. Abstract, by States, of resources and liabilities of stock savingsbanks June 29, 1929 680-683
No. 82. Abstract, by States, of resources and liabilities of mutual savingsbanks June 29, 1929 684-687
No. 83. Abstract, by States, of resources and liabilities of private banksJune 29, 1929 688-691
No. 84. Abstract, by States, of resources and liabilities of all reportingbanks other than national June 29, 1929 692-699
No. 85. Abstract, by States, of resources and liabilities of national banksJune 29, 1929 700-707
No. 86. Aggregate resources and liabilities of State (commercial) banks,June, 1925 to 1929 _._ _' 708
No. 87. Aggregate resources and liabilities of loan and trust companies,June, 1925 to 1929 708
No. 88. Aggregate resources and liabilities of stock savings banks, June,1925 to 1929 1 709
No. 89. Aggregate resources and liabilities of mutual savings banks, June,1925 to 1929 : 709
No. 90. Aggregate resources and liabilities of private banks, June, 1925 to1929 710
No. 91. Gold, silver, etc., held by banks other than national, June, 1914to 1929 710
No. 92. Statement of resources and liabilities of the chartered banks ofCanada, September 30, 1929 711
No. 93. Summary of the principal items of resources and liabilities of thechartered banks of Canada, monthly, year ended September 30,1929 711
No. 94. Comparative statement of the transactions of the New YorkClearing House in each year ended September 30,1854 to 1929_ 712, 713
No. 95. Comparative statement of the clearings, etc., of the New YorkClearing House, years ended September 30, 1929 and 1928 713
No. 96. Exchanges, balances, percentages of balances to exchanges, andpercentages of funds used in settlement of balances by theNew York Clearing House in each year ended September 30,1893 to 1929 713, 714
No. 97. Comparative statement of exchanges of clearing houses of theUnited States, years ended September 30, 1929 and 1928---- 714-717
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X CONTENTS
PageNo. 98. Comparative statement of transactions of clearing-house associa-
tions in the 12 Federal reserve bank cities, and in other citieswith transactions of $1,000,000,000 and over, in years endedSeptember 30, 1929 and 1928 718
No. 99. Number and liabilities of State, private, and national banks whichfailed in each State during the six months ended December 31,1928 719
No. 100. Number and liabilities of State, private, and national bankswhich failed in each State during the six months ended June 30,1929 720,721
No. 101. Number and liabilities of State, private, and national bankswhich failed in each State during the year ended June 30,1929 722,723
No. 102. Number and liabilities of State, private, and national bankswhich failed in years ended June 30, 1914 to 1929 724
No. 103. Statements of resources and liabilities of the individual nationalbanks (States, Territories, and towns arranged alphabetically)at close of business December 31, 1929. {Omitted from thisreport and published as a separate table.)
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REPORTOF THE
COMPTROLLER OF THE CURRENCY
TREASURY DEPARTMENT,OFFICE OF THE COMPTROLLER OF THE CURRENCY,
Washington, December 2, 1929.SIR: I have the honor to submit the following annual report in
accordance with the provisions of section 333 of the United StatesRevised Statutes, covering activities of the Currency Bureau, inthe year ended October 31, 1929. This is the sixty-seventh reportmade to the Congress since the organization of the bureau.
LEGISLATION RECOMMENDED
Amendments to the national hank axt
The experience of the postwar period has been of sufficient durationto permit a comprehensive appraisal of the effect of the new economicand social conditions upon our system of banking, Briefly stated, itmay be said that banking is following in the wake of the trend ofbusiness in general toward larger operating units with stronger capitalfunds and more experienced and highly trained management. Thenatural result has been that the larger cities are being favored withbanking organizations of great financial stability with the capacityto render a better and more diversified type of service.
In the principal cities, therefore, in various parts of the country,there have grown up through mergers and. through increases in thevariety and volume of business banking institutions which for strengthof capital and management technique were unknown in the pre-warperiod. There have been no failures of any of these types of metro-politan banks. They are giving the general public a safer and highertype of banking service than has hitherto been known. Their sta-bility rests upon the great diversity of banking business to which theyhave access and to the further fact that they are able to secure themost highly trained and experienced talent. These banks compriseboth unit and branch banking institutions.
The aggregate of all the banking resources in the United States isabout $72,000,000,000, held by a little more than 25,000 banks (as ofJune 29, 1929), but 250 banks hold resources to the aggregate amountof approximately $33,400,000,000.
While the largest and strongest banks with the bulk of the bankingresources are in the large cities, about three-fourths of all the banksin number are in the smaller towns and cities and may be classed as
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2 REPORT OF THE COMPTROLLER OF THE CURRENCY
country banks. It is these banks which serve directly the agricul-tural communities. ^ They operate with small capital funds and arevery much limited in their ability to employ a trained management.The economic developments of the postwar period have had the effectof decreasing the opportunities of these banks to operate with profitand it is this situation to which I should like to direct your mostserious consideration.
We are faced with the fact that during the 9-year period fromJuly 1, 1920, to June 30, 1929, inclusive, about 5,000 banks,nearly all in the agricultural communities, closed their doors andtied up deposits of approximately Sl OOjOOOjOOO.1 These failureshave not been limited/ to any one section of the country, althoughthey have been most prevalent in the agricultural districts. Up toNovember 1, 521 banks with deposits of about $200,000,000 had sus-pended during the year 1929. The number of failures by Statesduring the fiscal years ending June 30, 1921 to 1929, inclusive, is asfollows:
Maine . - „_'New Hampshire . _Vermont _ • . _.MassachusettsRhode Island _ . __ .Connecticut
Total New England States . . . ._ _. . . .
New Jersey . - .__.-_._._.--. - „_ ._ ._ . .Pennsylvania
i These figures embrace only those banks which actually went into the hands of receivers* They do notinclude about 500 banks which suspended business but were later reopened after reorganization} oftenresulting in depositors and shareholders voluntarily suffering some loss.
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As will be observed from the foregoing table the failures of Statechartered banks greatly outnumber those of the national banks, butsmall national banks have not been immune to the conditions whichare causing the failures of small country banks generally. As anillustration of the wide scope of this economic condition, it may besaid that in seven States over 40 per cent of all the banks in existencein 1920 have failed and in six States between 25 and 40 per cent.In 26 States, or more than one-half the total, over 10 per cent of thebanks that were in operation in 1920 have since failed. When it isconsidered that no important failures have occurred among banks inthe larger cities, the ratio of failures in the country districts is evenhigher.
We have here, therefore, a strong contrast between city and countrybank operations. Whereas the depositor in a large city bank, whethera wage earner or a business man, has had full protection, the depositorin the small country bank has suffered severely from the inability of somany of these banks to meet their deposit liabilities. The farmingcommunities have not been afforded the protection for their savingswhich has been available to depositors in the large cities.
It is cause for immediate concern that the operating conditionsfaced by the country banks show no prospect of improvement under-the present system. There are many country banks now operatedat a loss and many others operating upon earnings insufficient tojustify their capital investment. There is not available to me theearning statements of State banks, but taking the national banks asan illustration and the year 1927 as a typical year (later earningfigures not being compiled) 966 national banks operated at a loss andan additional 2,000 earned less than 5 per cent. These constitutedabout 38 per cent of all national banks in the United States.
Comprehensive study of the banking situation for the past nineyears clearly indicates that the system of banking in the rural com-munities has broken down through causes beyond the control of theindividual banker or the local community. These causes are of abasic nature and have many ramifications throughout the greateconomic and social changes which have occurred in the UnitedStates since 1914. I shall not attempt in this report a detailed analysisof this situation except to say that the economic movement away from
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4 REPORT OF THE COMPTROLLER OF THE CURRENCY
a large number of independent local utility and industrial operatingunits toward a stronger and more centralized form of operation inthe large cities has curtailed the opportunities of the country bank fordiversity and extension of business while broadening these opportuni-ties for the large city bank.
Any attempt to maintain the present country bank system by forceof legislation in the nature of guaranty of deposits or the like, wouldbe economically unsound and would not accomplish the purposeintended. If in the free course of business the country bank can notsuccessfully operate as an independent banking corporation, affordingample protection to its depositors and its stockholders, the obligationand responsibility is upon the Government of the United States, atleast so far as the national banks are concerned, to set up a system ofnational banking which will insure the rural communities against thecontinuing disastrous effects of local bank failures.
There have been no general financial panics in this country sincethe war—thanks to the Federal reserve system. Any bank can haveaccess, directly or indirectly, to the benefits of the Federal reservesystem to the extent of its sound commercial and business loans andthe decline of the country banks has taken place notwithstanding thevaluable assistance rendered by the Federal reserve system. A Federalreserve bank is not charged with the responsibility of preventingbank failures. I t is beyond the power of the Federal reserve system,as it is beyond the power of any governmental agency, to stand betweenthese banks and insolvency.
In the absence of legislation to remedy the conditions abovedescribed, private enterprise has within recent months^ undertaken tomeet the economic situation presented by the growing isolation of thecountry banks. Local holding companies have been formed in manysections of the country for the purpose of bringing together a numberof banks into a single operating group. The usual procedure is forthe holding company, a State corporation, to purchase a majorityof the stock of several banks, one of which would be a large city bankwhich in effect becomes the parent bank of thegroup. Themanagementpersonnel of the central bank becomes in practice the responsiblemanagement for the entire group. Through such a group system itappears to be possible to make a close approach to a form of branchbanking whereby each operating unit leans for support upon thecentral bank, or upon the holding company, and receives the benefitsof its moral and financial support; its prestige and good will; its ex-tension of the wider type of banking service; and the benefits of itshighly trained management.
This holding-company movement is of such recent developmentthat complete statistics are not yet available as to the number ofcompanies in operation or the number of banks taken over. Itappears that in many cases some of the most responsible bankers andbusiness men of the community have been instrumental in the organi-zation of these holding companies and this it would seem is a sufficientindication of the seriousness of the purpose behind the movement.However, these holding companies are attempting to do under thesanction of existing laws, which are crudely adapted to the purpose,what should be made possible in a simpler manner by new legislation.If branch banking were permitted to be extended from the adequately
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REPORT OF THE COMPTROLLER OF THE CURRENCY 5
capitalized large city banks to the outlying communities within theeconomic zone of operations of such banks, there would be no logicalreason for the existence of the local holding company and it wouldgive way to a system of branches operated directly by the centra!bank of the group.
These conditions would seem to warrant a further amendment ofsection 5155 of the Kevised Statutes of the United States as amendedby the act of February 25, 1927 (U. S. Code, title 12, sec. 36), known,as the McFadden Act, to permit national banks, with the approvalof the Comptroller of the Currency, to establish branches within thetrade areas of the cities in which such banks may be situated. Thesetrade areas may in some cases be coextensive with Federal reservedistrict lines; in other cases they may be of a more limited extent,but in my judgment they should not extend beyond Federal reservedistrict boundaries, except to take care of a few exceptional caseswhere a trade area may extend from one Federal reserve districtinto another, nor should a bank be permitted to establish a branchin another city in which there is a Federal reserve bank or a branchthereof.
Under such a system of branches there would gradually be extendedto the agricultural communities from the large city banks a safe andsound system of banking which would render remote the possibilityof bank failures. There would, however, be no compulsion uponunit banks to enter a branch organization. The two systems ofbanking—unit banking and branch banking—would no doubtoperate side by side for an indefinite length of time; that is to say,there would be in every rural section some unit banks well organized,competently managed and held in high esteem by the community,which would continue to operate advantageously.
These suggestions for branch banking are made not with theintention primarily to deal with the question of the decline in thenumber of national banks through defection from the national to theState systems, but rather as a, remedy for what appears to be a seriousand fundamental weakness in our systems of banking both nationaland State. Such a grant of power to the national banks would,however, give them such an outstanding operating advantage that itwould seem reasonable to expect that the exodus of banks from thenational system would practically cease and that many now underState supervision would return to the national charter which theyhave forsaken.
Any such legislation, based not upon the theory of equalizing thenational with the State bank charter powers but giving a real ad-vantage to the national charter, would be fully justified under exist-ing conditions which seriously jeopardize the maintenance of thenational banking system. The State legislatures have for yearsgiven to the State banks operating advantages which the nationalbanks did not possess and it is in this situation that we find themotive for the abandonment of national charters. There is appendedhereto a list of 127 large national banks which have within the past10 years given up their national charters for the purpose of operat-ing under State charters.
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REPORT OF THE COMPTROLLER OF THE CURRENCY
Name and location of bank State Capital Resources
Year ended Oct. 81,1920
Third National Bank of AtlantaMerchants National Bank of the City of New York-Security National Bank of Los Angeles : . .Farmers National Bank of FresnoMercantile National Bank of San Francisco
GeorgiaNew York.California—
dodo
Year ended Oct. 81,1921
National Reserve Bank of Kansas CityMidwest National Bank & Trust Co. of Kansas C i t y -Lincoln National Bank of RochesterFirst National Bank of ClevelandUnion National Bank of NewarkUnion Commerce National Bank of Cleveland-_Canal-Commercial National Bank of New OrleansNational Bank of Commerce of ToledoCentral National Bank of St. LouisNational Commercial Bank of ClevelandLiberty National Bank of New YorkNational Bank of Commerce of Kansas CityUnion National Bank of PasadenaRidgewood National Bank, RidgewoodNational Bank & Trust Co. of Pasadena
Missourido
New York-.OhioNew Jersey,.Ohio..Louisiana...Ohio-Missouri. _.OhioNew York..Missouri-_-California,.New York..California. _
Year ended Oct. 81,1922
First National Bank of FresnoFirst National Bank of BerkeleyFirst National Bank of BakersfieldAtlantic National Bank of the City of New YorkBank of New York National Banking AssociationNational State & City Bank of Richmond
dododo
New Yorkdo
Virginia -
Year ended Oct. 81,1928
Merchants National Bank of San Diego.Lowry National Bank of AtlantaIrving National Bank, New YorkBank of North America, PhiladelphiaMerchants National Bank of San FranciscoFirst-Second National Bank of Akron _Importers and Traders National Bank of Now YorkMerchants National Bank of Raleigh _Luzerne County National Bank of Wilkes-BarreBattery Park National Bank of New YorkAmerican National Bank of San Francisco _Ninth National Bank of Philadelphia
Fourth National Bank of CincinnatiWells Fargo National Bank of San FranciscoNational Exchange Bank of BaltimoreLafayette National Bank of Buffalo,Continental National Bank & Trust Co. of Kansas City-Northern National Bank of Toledo..Long Beach National Bank, Long BeachSecond National Bank of ToledoCorn Exchange National Bank of Chicago
Year ended Oct. 81,1925First National Bank of Oakland-Fifth National Bank of the City of New YorkGotham National Bank of New York. _National Union Bank of Boston
Year ended Oct. SI, 1926Manufacturers & Traders National Bank of BuffaloCoal & Iron National Bank of the City of New YorkFirst National Bank of HammondPlanters National Bank of RichmondNorwood National Bank of GreenvilleNational Exchange Bank of ProvidenceFirst National Bank of JamaicaCity National Bank of Plainfield.-State National Bank of North TonawandaPhoenix National Bank of HartfordNational Exchange Bank of LockportSecond National Bank of HobokenFirst National Bank & Trust Co. of UticaNational American Bank of New YorkNational Butchers & Drovers Bank of the City of New
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REPORT OF THE COMPTROLLER OF THE CURRENCY
Name and location of bank
Year ended Oct. 31,1927
American Exchange-Pacific National Bank of New York...First National Bank of AlbanyWest Branch National Bank of WilliamsportCitizens National Bank & Trust Co. of CincinnatiFifth-third National Bank of CincinnatiMerchants & Manufacturers National Bank of NewarkCommercial National Trust & Savings Bank of Los Angeles.Griswold National Bank of DetroitAmerican National Bank of Newark __Franklin National Bank in New York
Year ended October SI, 1928
Union National Bank of Philadelphia._„ ...—»->.-City National Bank of Holyoke „National Bank of Commerce in Chicago.National Bank of Commerce in PhiladelphiaHamilton National Bank of New YorkBronx National Bank of the City of New YorkFirst National Bank of Bangor „ _.Liberty National Bank of CovingtonFirst National Bank in Columbus—_Massasoit-Pocasset National Bank of Fall River ___United Capitol National Bank & Trust Co. of New YorkFlushing National Bank, FlushingNational Bank of RochesterBroad Street National Bank of PhiladelphiaNational Bank of North PhiladelphiaNational City Bank of Los Angeles
Year ended Oct. 31, i
First National Bank of BrooklynSeventh National Bank of New York.—American National Bank of RichmondMerchants National Trust & Savings Bank of Los Angeles. _Northern National Bank of PhiladelphiaNational Union Bank of Maryland at Baltimore -Mercantile National Bank in Dallas . - . . „First National Bank of Long BeachNational Bank of Commerce in New YorkFirst National Trust & Savings Bank of WhittierBloomfield National Bank, BloomfieldOld National Bank of Grand RapidsHanover National Bank of the City of New York.,Third National Bank of SyracuseLiberty National Bank & Trust Co. of SyracuseChemical National Bank of New YorkChapman National Bank of PortlandLouisville National Bank & Trust Co,, LouisvilleMerchants National Bank of Detroit _..Arcadia National Bank & Trust Co. of Newark. .Seaboard National Bank of the City of New YorkMerchants-Laclede National Bank of St. LouisState National Bank of St. LouisTenth National Bank of PhiladelphiaCommunity National Bank of Buffalo..... _Fordham National Bank in New Y o r k . . . . . . *.___Thamet National Bank, Norwich „_Norwood National BankCity National Bank of San AntonioNational City Bank of Akron _National Bank of Niagara & Trust Co., Niagara FallsCitizens National Bank of Raliegh.Murchison National Bank of WilmingtonAmerican National Bank & Trust Co. of Greensboro _City National Bank & Trust Co. of Bridgeport
State
New York.,.do -
Pennsylvania.Ohio
do-New Jersey. . .CaliforniaMichiganNew Jersey. . .New York
Pennsylvania..Massachusetts.Illinois..Pennsylvania..New Y o r k . . . . .
doMaineKentucky..Ohio.Massachusetts.New York
do. . . „. . . . doPennsylvania-.
doCalifornia
New York..—doVirginiaCaliforniaPennsylvania...MarylandTexas .CaliforniaNew YorkCaliforniaNew JerseyMichiganNew York
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8 REPORT OF THE COMPTROLLER OF THE CURRENCY
Many smaller national banks during this period also relinquishedtheir charters to go into the State system, but the foregoing list includesonly banks of the metropolitan class.
Following the approval of the McFadden Act (act of February 25,1927) several large State banks were converted into national banks,but this gain has been far more than offset by the recent great loss ofnational charters. Boards of directors of banks and their stockholders,in giving consideration to the question of whether the corporationshould operate under the national or the State charter, are not movedby questions of sentiment or patriotism. The fact that a nationalbank is an instrumentality of the Federal Government designed tofulfill* certain public purposes does not seem to be considered anoperating advantage to the bank. The corporation must in the natureoi the case be moved almost solely by consideration of the most profit-able use of the capital invested in the enterprise. In other words,the question of the choice of charter presents to the corporation abusiness proposition. In the history of banking in the United Statessince 1863 banking corporations have switched from State to nationaland from national to State charters as the business advantages laywith the one or the other. From the standpoint therefore of theoperating banker the grant of the wider branch banking powers tonational banks would be considered by him as an invitation to enlargethe sphere of his business operations to the greater advantage of hisstockholders.
The Government of the United States, as distinguished from thenational banking corporation, would be concerned primarily with thequestion of strengthening the national banks as Federal instrumen-talities and with the establishment of a sound system of bankingthroughout the United States. Under the existing trend with theoperating advantage in favor of the State banks the development isin the direction of 48 separate and distinct systems of commercialbanking each under the supervision, control, and direction of aseparate State government with a corresponding disappearance ofthe national banks from the field.
It has been said that this situation does not present any cause forconcern for the reason that the Federal reserve system which embracesState banks in its membership has made the national banking systemunnecessary. The Federal reserve act, however, did not set up asystem of banks in the United States. It did set up a system of co-ordination of bank reserves and a flexible currency, which operateadvantageously for all banks. The approach to equalization be-tween the State and national banks afforded by the Federal reservesystem does not involve a rearrangement of charter powers but anextension of the privileges tod the benefits of the Federal system toState chartered banks. If therefore, in addition to these privilegeswhich they derive from the Federal Government, they secure fromtheir respective legislatures charter powers giving them certainoperating advantages over national banks, the Federal reservesystem thus becomes indirectly the means of forcing national banksto take out State charters.
The announced legislative policy of the so-called McFadden BankAct of February 25, 1927, was parity between the national and Statesystems. The purpose of the bill was to make the charter powers of
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KEPOKT OF THE COMPTROLLER OF THE CURRENCY 9
national banks approximately equal in operating advantage tothose of the State banks. Nearly three years of operation under thatact has demonstrated that it has failed of its purpose in this respect.
The theory of parity between the two systems of banks is, in myopinion, economically unsound. Commerce is interstate and isrecognized by the Constitution of the United States as being funda-mentally a national question. One of the primary purposes of thenational bank act of 1863 was to establish a sound and uniform systemof commercial banking throughout the country in order that com-mercial transactions growing out of the production, the manufacture,and the transportation of goods and commodities from one sectionof the country to the other might not be hampered by local bankinglegislation but should have access to a system of banks operatingunder Federal authority and supervision under a single set of rulesand regulations and statutory enactments in order that the free flowof commerce should not be embarrassed by a multiplicity of restric-tions having their origin in local political conditions.
The proposal for the extension of branch banking which is heremade would have the direct effect of establishing a strong system ofbanks in the rural districts and indirectly it would lead to the gradualrestoration of the national banks as the primary system of commercialbanking in the country.
While it would seem to be to the interest of the local bank holdingcompanies to convert their groups of banks into branches after theenactment of legislation as above outlined, there might possibly stillremain in operation some of these local companies and some of awider regional operation. In view of the fact that such companiesare outside of all jurisdiction of the Federal Government and thatthey would be in a position to dictate the policies and .operations ofsuch national banks as they controlled through stock ownership,I further recommend to the^ Congress an amendment to the nationalbanking laws which will bring the operations of such bank holdingcompanies under some degree of Federal supervision where they ownthe majority of the stock of more than one national bank and afurther amendment to safeguard the additional shareholders' liabilitywhich each such bank holding company incurs through the ownershipof the shares of national-bank stock.
Under the present law it is necessary for a national bank, in orderto exercise fiduciary powers, to obtain a permit from the FederalReserve Board. The trust department of a national bank is develop-ing into one of the most important branches of its business. Trustcompanies exercise their fiduciary powers by direct grant of charterpower from State legislatures; national banks should have a similargrant from Congress.
I, therefore, recommend that the law be so amended as to providethat the exercise of fiduciary powers shall be one of the corporatepowers of a national banking association subject to the existinglimitations in regard to State law, etc., now contained in paragraph(k) of section 11 of the Federal reserve act.
I renew the recommendation made in my annual report to theSeventieth Congress that the law be amended to give the comptrollersupervision over the national banking associations going into volun-tary liquidation. Under the present law, the comptroller's authority
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1 0 REPORT OF THE COMPTROLLER OF THE CURRENCY
is limited to the appointment of a receiver, provided a bank inliquidation should prove to be insolvent. The reports of the liqui-dating agent are not required under the law, although they arefrequently furnished voluntarily. At present the liquidation of anational bank may be carried on for a period of time and later proveto be insolvent, necessitating the appointment of a receiver. Credi-tors who have been settled with prior to such appointment may thusobtain preference over other creditors. It is believed that it wouldbe a step forward if the liquidating agent of a national bank weremade subject to the comptroller; be required to give bond and torender reports in the same manner as is required of a receiver untilthe affairs of a liquidating bank are finally closed.
It is again recommended that a law be enacted making it a criminaloffense to maliciously or with intent to deceive, make, publish, orcirculate any false report concerning any national bank or any othermember of the Federal reserve system which imputes insolvency orunsound financial condition, or which may tend to cause a generalwithdrawal of deposits from such bank or may otherwise injure thebusiness or good will of such bank.
Amendments to the laws of the District of Columbia
I renew the recommendations made to the Seventieth Congressthat the following laws be enacted:
1. Giving the comptroller the right and power to make regulationsgoverning savings banks or trust companies doing a banking businessin the District of Columbia with a penal provision for the enforce-ment of such regulation; the regulations to be limited so that theyshall not in any case place restrictions upon such banks which arenot placed upon national banks.
2. Prohibiting the use of the word "bank" or the words "trustcompany" by any firm, copartnership, company, or corporationdoing business in the District of Columbia and not doing a bankingor fiduciary business under the supervision of the Comptroller of theCurrency and providing in the event such title shall be used by afirm, copartnership, company, or corporation doing a banking orfiduciary business, it shall be subject to the approval of the Comp-troller of the Currency.
3. The corporations with their principal place of business outsideof the District of Columbia may not establish offices in the Districtof Columbia and do a fiduciary business without the permission ofthe Comptroller of the Currency and without complying with thegeneral conditions of the corporation laws of the District whichhave been enacted for the protection of those who do business withcorporations with their principal place of business in the District.
While the building and loan associations in the District of Columbiaare examined and supervised by the Comptroller of the Currency,there is no provision of law which prohibits any building and loanassociation from organizing and doing business in the District ofColumbia regardless of its merits. I recommend that a law be passedwhich would prohibit any building and loan association from doingbusiness in the District of Columbia or maintaining an office in theDistrict of Columbia without first securing the approval of theComptroller of the Currency and that any violation shall constitute
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REPOBT OF THE COMPTROLLER, OP THE CURRENCY 11
a penal offense and be punishable in the same manner as now providedby the act of April 26, 1922, entitled " An act regulating corporationsdoing a banking business in the District of Columbia.77
BRANCHES
In the comptroller's report for the year ended October 31, 1927,the statement was made that under the provisions of the act ofFebruary 25, 1927, the Comptroller of the Currency had approvedthe establishment of new city branches to the number of 127. Inthe year following 103 new city branches were authorized and duringthe year ended October 31, 1929, the number authorized was 89.Of the 319 local branches authorized by the comptroller 75 have beendiscontinued leaving the total of city branches now in operationauthorized by the comptroller under the provisions of the McFaddenAct as 244.
During the past year 2 branches were added to the system throughthe conversion of a State bank and 82 branches were added throughthe consolidation of State banks with national banks. These addi-tions, together with those branches in the system under date ofOctober 31,1927, less 104 branches dropped through action of directorsand shareholders or liquidation of national banks makes a total of1,061 branches in existence in the national banking system as ofOctober 31, 1929, summarized as follows:
Classes
Statutory-!^Additional offices, c branchesMillspaw Act0 branches
Totals
Inopera-tionFeb.
25,1927
165
2025
372
Inexist-enceOct.
31,1928
469162168
6187
992
Author-ized
duringyear
endedOct.
31,1929
282
89
173
Closed during the year endedOct. 31,1929
Share-holders
1
1
Direc-tors
1
5
6
Lapsed
I10
11
Volun-tary
liqui-dation
44
25
17
86
Totalin
exist-enceOct.
31,1929
427243142
6244
1,061
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12 REPORT OF THE COMPTROLLER OF THE CURRENCY
Table showing number and manner of acquisition of branches of national banks dur-ing the year ended October SI, 1929
Char-terNo.
Title and location
Branches authorized duringthe year ended Oct. 31,1929
Undaeract Feb.25, 1927
By con-versionor by
consoli-dationunder
act Feb.25, 1927
Totalnumber
3728
592735381254524917632
34255046
504515599617
S550
200322643
119035155
75891052787038148
374118299123709
1495337
1319313292
237010778130279955
128921326012900
6581461
1103413045
653
ARIZONA
First National Bank of Arizona at Phoenix
CALIFORNIA
Citizens National Trust & Savings Bank of Los AngelesMerchants National Trust and Savings Bank, Los Angeles.Seaboard National Bank of Los AngelesSecurity-First National Bank of Los AngelesUnited States National Bank of Los Angeles
DISTRICT OF COLUMBIA
National Bank of WashingtonRiggs National Bank of Washington.
Fourth National Bank of Atlanta.Atlanta and Lowry National Bank, Atlanta-Fulton National Bank of Atlanta.
HAWAII
Bishop First National Bank of Honolulu...
MASSACHUSETTS
First National Bank of Boston.Second National Bank of BostonAtlantic National Bank of Boston...Boston National BankNational Shawmut Bank of Boston.
MICHIGAN
Old-Merchants National Bank and Trust Co. of Battle Creek.First National Bank in DetroitNational Bank of Commerce of DetroitCapital National Bank of Lansing
NEW JERSEY
First National Bank of Jersey City _Hudson County National Bank, Jersey City ._New Jersey NationalBank & Trust Co. of Newark.Broad Street National Bank of Trenton
NEW YORK
First National Bank & Trust Co. of Elmira ,Merchants National Bank and Trust Co. of ElmiraBank of America National Association, New YorkBrooklyn National Bank of New York _ ,Chase National Bank of the City of New YorkChatham Phenix National Bank & Trust Co., New York.Claremont National Bank of New York _Harriman National Bank and Trust Co. of New YorkLafayette National Bank of Brooklyn in New YorkLefcourt National Bank and Trust Co. of New YorkMelrose National Bank of New York _ ,Nassau National Bank of Brooklyn in New York ,National City Bank of New YorkPublic National Bank & Trust Co. of New YorkSeward National Bank and Trust Co. of New York ,First National Bank & Trust Co. of Yonkers
16
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EBPORT OF THE COMPTKOLLEB OF THE CUBBENCY 13Table showing number and manner of acquisition of branches of national banks dur-
ing the year ended October 81, 1929—Continued
Char-terNo.
32
352723
131803604542
1606784813349
Title and location
OHIO
Second National Bank of Cincinnati.
PENNSYLVANIA
Sixth National Bank of Philadelphia . .-».Central National Bank of PhiladelphiaCity National Bank & Trust Co. of PhiladelphiaCommercial National Bank and Trust Co. of Philadelphia-...Corn Exchange National Bank and Trust Co., Philadelphia.,
TENNESSEE
First National Bank of ChattanoogaHamilton National Bank of ChattanoogaUnion Planters National Bank & Trust Co. of Memphis
WISCONSIN
First Wisconsin National Bank of Milwaukee
Totals
Branches authorized duringthe year ended Oct. 31,1929
Underact Feb.25,1927
By con-version
or byconsoli-dationunder
act Feb.25, 1927
84
Totalnumber
3111
10
2
173
Table showing number and class of branches of national banks closed during the yearended October 31, 1929
Char-ter
No.Title and location Manner of closing
Branches closed
Branches underact of Feb. 25, 1927
Addi-tionalofficeswhich
becamebranchesFeb. 25,
1927
Branchesauthor-
izedsince
Feb. 25,1927
Statebank
branchesin oper-
ationFeb. 25,
1927,which
were con-vertedor con-
solidated
Total
3538
2491
1928
5161
37412255
CALIFORNIA
Merchants National Trust andSavings Bank of Los Angeles.
Security-First National Bank ofLos Angeles.
DISTRICT OF COLUMBIA
Farmers & Merchants NationalBank of Washington.
Louisville National Bank andTrust Co., Louisville.
NEW JERSEY
First National Bank of Jersey City.Journal Square National Bank of
Jersey City*
Voluntary liquidation.
1 board of directorsand 1 resolution ofshareholders and 2lapsed.
Lapsed-
Voluntary liquidation.
ReissuedBoard of directors..
2 ! 36
4
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14 REPORT OF THE COMPTROLLER OF THE CURRENCY
Table showing number and class of branches of national banks closed during the yearended October 81, 1929—Continued
Char-terNo.
Title and location Manner of closing
Branches closed
Branches underact of Feb. 25, 1927
Addi-tionalofficeswhich
becamebranchesFeb. 25,
1927
Branchesauthor-
izedsince
Feb. 25,1927
Statebank
branchesin oper-
ationFeb. 25,
1927,which
were con-vertedor con-
solidated
Total
11768
5137
923
11844
2370
1499
1352
9955
658
733
146112123
12284
12122
10112
1766
3423
11476
4192
1606
150
6229
NEW YORK
Community National Bank ofBuffalo.
Merchants National Bank andTrust'Co. of Elmira.
First National Bank of Brooklyn,New York.
Seventh National Bank of NewYork.
Chase National Bank of the Cityof New York.
Chemical National Bank of NewYork.
Hanover National Bank of theCity of New York.
Harriman National Bank andTrust Co. of New York.
Nassau National Bank of Brook-lyn in New York.
National Bank of Commerce inNew York.
National City Bank of New York.Seaboard National Bank of the
City of New York.National Bank of Niagara and
1 Trust Co. of Niagara Falls.Liberty National Bank and
Trust Co. of Syracuse.
NORTH CAROLINA
American National Bank andTrust Co, of Greensboro.
Citizens National Bank of Raleigh.
PENNSYLVANIA
Tenth National Bank of Phila-delphia.
Commercial National Bank andTrust Co. of Philadelphia.
Drovers and Merchants NationalBank of Philadelphia.
Northern National Bank of Phila-delphia.
TENNESSEE
First National Bank of Chatta-nooga.
Fourth and First National Bankof Nashville.
VIRGINIA
American National Bank of Rich-mond.
Total (29 banks)
Voluntary liquidation.
Lapsed
Voluntary liquidation.
do
Reissued
Voluntary liquidation.
do
Board of directors—
Reissued
Voluntary liquidation.
ReissuedVoluntary liquidation.
,-do.
do
do
Board of directors..
Voluntary liquidation
Board of directors
Voluntary liquidation
do
Reissued
Board of directors..
Voluntary liquidation.
10
26 45 104
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REPORT OF THE COMPTROLLER OF THE CURRENCY 1 5
ORGANIZATION AND LIQUIDATION OF NATIONAL BANKS
There were 7,506 national banking associations in existence at theclose of the current year, October 31, 1929. This number was lessby 201, or 2.67 per cent, than the number in existence at the close ofthe preceding year on October 31, 1928. The decrease in aggregateresources as evidenced by the last call, October 4, 1929, comparedwith aggregate resources on October 3, 1928, was $1,001,170,000, orabout 3.58 per cent.
This office has during the past year continued to exercise its policyof extreme care in granting charters for national banks, based primarilyon the needs of the community for additional banking facilities.
During the current year 42.43 per cent of the number of applicationsreceived for the establishment of new national banks were approved,as compared with 39.6 per cent the previous like period, 44 per centthe year prior thereto, and 52 per cent the year 1926.
In other words, despite the fact that the number of applicationsreceived remains about the same, the number approved by this officeis constantly becoming smaller and in the current year a less number ofapplications was approved than has been approved any year duringthe past 12-year period, except last year when the number approvedwas 103 against 129 for the current year.
Up to and including October 31, 1929, there have been authorizedto begin business 13,390 national banking associations, of which 4,643were voluntarily closed to discontinue business or amalgamate withother banks, State or National, including those consolidated withother national banking associations under authority of the act ofNovember 7, 1918. Exclusive of banks which failed but were sub-sequently restored to solvency, the loss to the system by banksliquidated through receiverships was 1,241, the number of thesereceiverships being a fraction less than 9.26 per cent of the totalnumber of banks organized.
In November, 1914, there were in existence 7,578 national bankswith capital of $1,072,492,175. Since that date the net decrease inthe number of banks was 72, but there was an increase in capitalof $613,759,490. The capital of the banks in existence on October31, 1929, was $1,686,251,665. In this 15-year period 2,738 bankswere chartered with capital of $354,630,300. During this period,however, 2,810 associations were closed voluntarily or otherwise.
Applications to organize national banks and to convert State banksinto national banking associations were received in the current yearto the number of 304, with proposed capital stock of $68,880,000. Ofthe applications pending 129 were approved with proposed capitalstock of $26,690,000, 120 rejected with proposed capital stock of$34,955,000, and 50 abandoned with proposed capital stock of$6,630,000. National banking associations to the number of 141,with capital of $38,195,000, were authorized to begin business, ofwhich 5 were located in the New England States, 32 in the Eastern,31 in the Southern, 31 in the Middle Western, 22 in the Western,and 20 in the Pacific States. The greatest activity as indicated bythe number of banks organized was in the following States: NewYork, 21 banks; Texas, 11; California, 10; Florida, 9; Minnesota, 7;Illinois, 6; Nebraska, 6; Missouri, 6; North Dakota, 6; New Jersey,5; Pennsylvania, 5; Massachusetts, 4; Washington, 4; and South
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1 6 REPOBT OF THE COMPTROLLER OF THE CURRENCY
Dakota, 4. In other States the number ranged from 1 to 3 banks.I t further appears that of the total number of charters issued, 23,with authorized capital of $7,620,000 and resources aggregating ap-proximately $98,216,821, were the result of conversions of Statebanks—4, with capital of $375,000, reorganizations of State banks,and 114, with capital of $30,200,000, primary organizations. Thebusiness of 16 State banks with capital of $1,002,500 and assetsaggregating approximately $14,001,432 was purchased by nationalbanks. Conversion of 1 State bank into a national associationbrought into the system 2 branches.
In the year in question 96 national banking associations wereconsolidated into 46 under authority of the act of November 7, 1918,the capital of the consolidated banks being $291,864,075. In someinstances there were reductions in capital and in others increases, butthe net result by reason of consolidations was an increase in capitalstock of $66,856,883.
During the current year there were 34 consolidations under the actof February 25,1927, authorizing the consolidation of 35 State bankswith national banks—the aggregate capital of the consolidating Statebanks being $43,055,000. These banks also brought 82 branches intothe national system and assets aggregating approximately $841,146,433.
The voluntary liquidation of 221 associations represented a capitalof $98,267,500, while the capital of the 79 insolvent banks was$6,575,000. The net result of the changes hereinbefore mentionedwas a decrease for the year in the number of existing banks by 201,but there was an increase in authorized capital stock of $66,662,550.It appears that during the year 335 banks increased their capital inthe aggregate sum of $181,730,125. Of this number 80 banks effectedthe increase by stock dividends, the amount of the increase in thismanner being $20,793,750.
Of the 221 banks reported in voluntary liquidation, 75, with capitalof $6,415,000, were acquired by other national banks, 139, withcapital of $91,672,500 and resources of $2,022,391,164, entered theState banking system, and 7, with capital of $180,000 and resources of$1,010,031, quit business.
NATIONAL BANKS IN THE TRUST FIELD
The development of trust operations by national banks wasevidenced by continued and substantial progress throughout theNation during the past year. The statistics for this function com-piled as of June 29, 1929, revealed that 2,442 national banks hadreceived authority to exercise trust powers, with a combined capitalof $1,218,049,515, representing 32.4 per cent of the number and74.8 per cent of the capital of all banks in the national bankingsystem.
Trust departments had been established by 1,734 of these banksand 75,988 trusts were being administered with individual trustassets aggregating $4,237,648,663. Seven hundred and thirty-six ofthese banks were also acting as trustees for bond and note issuesaggregating $7,370,154,456.
Compared with October 3, 1928, these figures represent a net in-crease in the number of national banks authorized to administertrusts under section 11 (k) of the Federal reserve act of 69, or 2.91
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REPOET OF THE COMPTROLLER OF THE CURRENCY 1 7
per cent; an increase in the number operating trust departments of149, or 9.40 per cent; an increase in the number of trusts beingadministered of 12,212, or 19.15 per cent, and an increase in individualtrust assets of $940,338,544, or 28.52 per cent.
The growth in the fiduciary activities of the banks in the nationalbanking system and the increasing popularity with the public of thisimportant department of national bank operations are even moreimpressive when comparisons are made with the activities of nationalbanks in this field just three years ago. In June, 1926, nationalbanks numbering 2,026 had authority to exercise trust powers, with1,104 actively engaged in administering trusts. These banks werethen acting in a fiduciary capacity for 26,053 trusts, with individualtrust assets of $922,328,677, and were acting as trustees for bondand note issues aggregating $2,463,553,316. The figures compiledas of June 29, 1929, represent for the 3-year period an increasein the number of national banks authorised to administer trustsof 416, or 20.53 per cent; an increase in the number of banks oper-ating trust departments of 630, or 57.07 per cent; an increase inthe number of trusts being administered of 49,935, or 191.67 percent; an increase in individual trust assets of $3,315,319,986, or359.45 per cent; and an increase in the volume of bond and noteissues outstanding for which these banks were acting as trustees of$4,906,601,140, pr 199.17 per cent.
As the activities of national banks have grown, so have the earningsthat these banks have reported from this source. For the fiscal yearended June 30, 1929, trust department gross earnings aggregating$20,583,000 were reported, as compared with $16,165,000 in 1928,$10,811,000 in 1927, and $8,255,000 in 1926. ^
Another phase of fiduciary activity which is gaining in popularityis the creation of insurance trusts. While the administration of thistype of trust is a comparatively recent development in national banktrust departments, yet on June 29, 1929, 118 national banks wereadministering 271 insurance trusts representing the proceeds of insur-ance policies aggregating $11,384,632. Some indication of the placethis type of trust will make for itself in the future operations of na-tional banks is evidenced by the fact that 558 trust departments nowhold 9,505 trust agreements which name those banks trustees in thefuture of the proceeds of insurance policies with a present face valueof $375,524,409, an amount aggregating more than one-third of thetotal individual trust assets under administration in 1926 by the 1,104national bank trust departments then in operation.
National banks with authority to exercise trust powers have showncontinued interest in the privilege afforded them to include the words"trust company" in their titles. While only 101 were operating withtrust in their names in 1927, the number has increased to 302 sincethat time, and this method of informing the public of their authorityto engage in trust functions is becoming general in many sections ofthe Nation.
A recent analysis developed that of the 7,536 national banks inoperation, 2,442, or 32.4 per cent, had authority to exercise trustpowers; 2,839, or 37.7 per cent, had capital sufficient to entitle themto apply for permission to exercise trust powers under section 11 (k)of the Federal reserve act, and 2,255, or 29.9 per cent, were ineligible
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1 8 REPORT OF THE COMPTROLLER OF THE CURRENCY
to receive permission to engage in trust operations because theircapital was less than that required by the laws of the States in whichthey were located for competing State institutions to receive likepowers.
The accompanying recapitulation segregates national banks intosix classes according to capital and gives detailed information relatingto their fiduciary activities, following which is a table showing con-solidated figures by Federal reserve districts.
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Fiduciary activities of national banks in 1929 segregated according to capital
Total
Number of national banks administering trustsCombined capital of national banks administering
trusts ($1,
ASSETS
InvestmentsDeposits in savings banksDeposits in other banksDeposits in own banksOther assets
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2 2 REPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL BANK FAILURES
During the past year receivers were appointed for 79 nationalbanks. Of this number, 72 were failures and 7 appointments ofreceivers were made in order to enforce stock assessments necessaryto be paid under contract to succeeding institutions which purchaseathe assets of the bank, sold under a guarantee from stockholders,paying creditors in full. Of the 72 actual failures, two were restoredto solvency, leaving 70 to be liquidated by receivers. This compareswith 54 actual failures for the previous year, 2 of which were restoredto solvency, and the appointment of receivers for 7 banks to enforcestock assessments. The capitalization of the 79 banks, for whichreceivers were appointed during the past year, was $6,575,000, com-pared with the capitalization of the 61 banks, for which receiverswere appointed during the previous year, of $4,135,000.
The total of assets of the 79 banks for which receivers were ap-pointed during the past year, including additional assets acquiredafter suspension, was $62,612,500. Stock assessments in the amountof $5,440,000 had been levied as of September 30, 1929, by the comp-troller against the shareholders of these banks.
The records of the division of insolvent national banks of thecomptroller's office do not show as a failure the suspension of theFirst National Bank of Lagrange, Tex., with assets of $1,213,812.02.The suspension occurred April 30, 1929, and the bank remained inthe hands of an examiner in charge until May 20, 1929, on which dateit resumed business.
During the past year, two banks, each with assets of over$12,000,000, became insolvent, and receivers were appointed. Im-mediately arrangements were made with local institutions for thepurchase, at par and interest, of such of the assets of the failed banksas were considered acceptable to the purchasing bank. The resultswere that in the first institution 50 per cent was made immediatelyavailable to its creditors, and in the second 60 per cent was imme-diately paid, thus relieving the local financial situation at once.Since such sales of assets, funds have been accumulated for paymentof additional dividends of 25 per cent to the creditors of the first-mentioned bank who received a first dividend of 50 per cent, andfunds have been accumulated for payment of additional dividends of30 per cent to the creditors of the second-mentioned bank who re-ceived a first dividend of 60 per cent, thus assuring the payment of75 per cent and 90 per cent, respectively, to the creditors of thesebanks within 12 months after their failure. This new method ofliquidation has been followed in several smaller failures, and hasproved most effective in relieving at once the acute financial situa-tions which follow bank failures.
From the date of the first failure of a national bank in the year1865 to October 31, 1929, 1,313 national banks were placed in chargeof receivers. Of this number, 72 were restored to solvency and per-mitted to resume business, leaving 1,241 to be administered by re-ceivers. Of these so administered, 426 (26 less than reported at theclose of 1928) are still in process of liquidation and 815 have beenentirely liquidated and the trusts closed.
The capital of the 1,313 insolvent national banks at the date offailure was $143,670,420. The capital of the 72 banks that were
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REPORT OF THE COMPTROLLER OF THE CURRENCY 23
restored to solvency was $12,180,000. The capital of the 426 banksthat are still in receiverships is $32,524,500, and the capital of the815 banks that have been completely liquidated was $98,965,920.
The book value of the assets of the 1,241 administered receiver-ships, including assets acquired after suspension, aggregated $853,-993,969, in addition to which there were levied against shareholdersassessments aggregating $92,315,740. Total collections by receiversto September 30, 1929, from these assets, including offsets togetherwith collections from stock assessments, amounted to 56.01 per centof the total of such assets and stock assessments. The disposition ofsuch collections was as follows:Collections:
Collections from assets, including offsets $485, 442, 981Collections from stock assessments 44, 614, 817
Total . . 530, 057, 798
Disposition of collections:Dividends paid to creditors on claims proved aggregating
$464,838,227 279, 772, 948Payments to secured and preferred creditors, including offsets
allowed and payments for the protection of assets 200, 336, 130Payment of receivers' salaries, legal and other expenses. _„__ 33, 259, 329Cash returned to shareholders 4, 167, 798Cash balances with the comptroller and receivers 12, 521, 593
Total 530, 057, 798
In addition to this record of distribution there were returned toshareholders, through their duly elected agents, assets of a book valueof $16,211,624.
The 426 banks that were as of October 31, 1929, still in charge ofreceivers and in process of liquidation had assets, including assetsacquired subsequent to their failure, aggregating $339,517,557. Thecapital of these banks was $32,524,500, and there had been leviedby the Comptroller of the Currency to September 30, 1929, stockassessments against their shareholders in the amount of $28,924,500.The collections from these assets, including offsets together withcollections from stock assessments, amounted to 52.24 per cent ofsuch assets and stock assessments as shown by receivers' last quarterlyreports under date of September 30, 1929. The disposition of suchcollections was as follows:Collections:
Collections from assets, including offsets $178, 488, 168Collections from stock assessments - 13, 999, 442
Total 192, 487, 610
Disposition of collections:Dividends paid to creditors on claims proved aggregating
$189,388,731 86, 493, 085Payments to secured and preferred creditors, including offsets
allowed and payments for the protection of assets 82, 323, 457Payment of receivers' salaries, legal and other expenses 10, 799, 475Cash returned to shareholders 350, 000Cash balances with comptroller and receivers 12, 521, 593
Total . . . . . 192, 487, 61079003°—30 3
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24 BEPORT OF THE COMPTROLLER OF THE CURRENCY
From the date of the first failure of a national bank in 1865 to theclose of October 31, 1929, 887 receiverships were liquidated and thetrusts closed, or the affairs thereof restored to solvency. Included inthis number are the 72 banks restored to solvency (2 in 1929) and 103that were liquidated during the year 1929. These 815 banks hadassets, including assets acquired subsequent, to their failure, aggre-gating $514,476,412.^ The capital of these 815 banks was $98,9&5,92(>and there were levied by the Comptroller of the Currency stockassessments against their shareholders in the amount of $63,391 f240.The collections from these assets including offsets, together with col-lections from stock assessments as shown by receivers' final reports,amounted to 58.41 per cent of such assets and stock assessments.The disposition of such collections was as follows:Collections:
Collections from assets, including offsets $306, 954, 813Collections from stock assessments 30, 615, 375
Total -- 337, 570, 188
Disposition of collections:Dividends paid to creditors on claims proved aggregating
$275,449,496 193,279,863Payments ta secured and preferred creditors, including offsets
allowed and payments for the protection of assets 118, 012, 673Payment of receivers' salaries, legal and other expense 22, 459, 854Cash returned to shareholders 3, 817, 798
Total 337, 570, 188The average percentage of dividends paid on claims proved against
the 815 receiverships that have been finally closed, not including the72 restored to solvency, which paid creditors 100 per cent, was 70.19per cent. If offsets, loans paid, and other disbursements wereincluded in this calculation, the disbursements to creditors wouldshow an average of 79.13 per cent.
Expenses incident to the administration of the 815 closed trustssuch as receivers' salaries, legal and other expenses, amounted to$22,459>854, or 3.88 per cent of the book value of the assets and stockaissessments administered, or 6.65 per cent of collections from assetsand stock assessments. The assessments against shareholdersaveraged 64.05 per cent of their holdings and the total collectionsfrom such assessments as were levied were 48.2$ per cent of theamount assessed. The outstanding circulation of these closedreceiverships was $38,060,477,. secured by United States bonds ondeposit with the Treasurer of the United States of the par value of$40,506,920.
During the year ended October 31, 1929, 103 receiverships wereclosed in addition to which 2 banks were restored to solvency. Thetotal assets ol the 103 receiverships, including assets acquired sub-sequent to suspension, aggregated $44,924,790. The capital of thesebanks was. $5,225,000, and the total assessments against shareholderslevied by the Comptroller of the Currency aggregated $5,225,000.The collections from these assets including offsets, together withcollections from stock assessments as shown by receivers' finalreports, amounted to 54.72 per cent of such assets and stock assess-ments. The disposition of such collections was as follows:
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REPORT OF THE COMPTROLLER OF THE CURRENCY 25
Collections:Collections from assets, including offsets $24, 911, 473Collections from stock assessments . . 2, 532, 490
Total „ 27, 443, 963
Disposition of collections:Dividends paid to creditors on claims proved aggregating
$25,714,590 12, 653, 830Payments to secured and preferred creditors, including offsets
allowed and payments for the protection of assets 12, 561, 313Payment of receivers' salaries, legal and other expenses __. 2, 224, 420Cash returned to shareholders _. 4, 400
Total 27, 443, 963The average percentage of dividends paid on claims proved against
the 103 receiverships that were finally closed in the year endingOctober 31, 1929, not including the 2 banks restored to solvencywhich paid creditors 100 per cent, was 49.2 per cent. If offsets, loanspaid, and other disbursements were included in this calculation, thepayment to creditors would show an average of 65.86 per cent.Expenses incident to the administration of these 103 trusts, such asreceivers' salaries, legal, and other expenses, amounted to $2,224,420,or 4.43 per cent of the book value of the assets and stock assessmentsadministered, or 8.1 per cent of collections from assets and stockassessments. The assessments against shareholders averaged 100per cent of their holdings and the total collections from such assess-ments as were levied were 48.46 per cent of the amount assessed.
The financial operations of the division of insolvent national banksfrom September 30, 1928, to September 30, 1929, were as follows:Collections:
Cash on hand Sept. 30, 1928 - $13, 158, 682Collections during the year, including offsets 46, 802, 886
Total - 59, 961, 568
Disposition of collections:Dividends paid-_„ 28, 939, 840Secured and preferred claims paid 15, 863, 280Expensespaid „ 2, 632, 455Returned to shareholders in cash 4, 400Cash on hand 12,521,593
Total - — _ 59, 961, 568
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26 REPORT OF THE COMPTROLLER OF THE CURRENCY
ItemsClosed re-
ceiverships,8151
Active re-ceiverships,
426Total, 1,241»
Total assets taken charge of by receiversDisposition of assets:
Collected from assets and offsets allowedLoss on assets compounded or sold under order of court_.Book value of assets returned to shareholdersBook value of remaining assets -
Total -
$514, 476,412
306,954,813191,309,97516,211,624
(2)
178,488,16845,049,709
115,979,680
485,442,981236,359,68416,211,624
115,979,680514,476,412 339,517,557 853,993,969
Collected from assets and offsets as above..C ollected from stock assessment
Total
306,954,81330,615,375
178,488,16813,999,442
485,442,98144,614,817
337, 570,188 192, 487,610 530,057,798Disposition of collections:
Dividends paid __ _Secured and preferred liabilities paid, including offsetsReceivers' salary, legal, and other expensesAmount returned to shareholders in cash _Balance with comptroller or receivers _
193,279,863118,012,67322,459, 8543,817,798
86,493,08582,323,45710,799,475
350,00012,521,593
279,772,948200,336,13033,259,3294,167,798
12,521,593Total.. 337,570,188 192,487,610
Capital stock at date of failure.. _United States bonds held at failure to secure circulating notes. _United States bonds held to secure circulation sold and circu-
lation redeemedCirculation outstanding at failure.—Amount of assessment upon shareholdersClaims proven _
! 111, 145,92040,506,920
40,506,92038,060,47763,391, 240
275,449,496
32, 524, 50017, 458,390
9,820,95016, 720, 99028,924, 500
189,388, 731
>143,670,42057,965,310
50,327,87054,781,46792,315,740
464,838,227
1 Does not include 72 banks restored to solvency.a Accounted for in final settlement with creditors or charged off as loss by order of court.* Includes capital stock of 72 banks restored to solvency.
Statistics relative to the capital, date of appointment of receiver,and per cent of dividends paid to creditors of 105 insolvent nationalbanks, the affairs of which were either closed or restored to solvencyduring the year ended October 31, 1929, appear in the following table:
Title Location Date receiverappointed Capital
Per centdivi-dendspaid to
creditors
National Bank of AbbevilleFirst National Bank _National Bank of AinsworthFirst National Bank
DoState National Bank of ArdmoreFirst National BankNational Bank of BarnesvilleFirst National Bank
DoDoDo
Peoples National BankFirst National Bank
DoDo
National Bank of CarlsbadFirst National Bank
DoDoDo
Commercial National Bank of Charles-ton.
First National BankCorydon National BankChase County National BankFirst National Bank
DoFirst National Bank of Las VegasFirst National BankNational Security Bank of FairfaxFarmers and Merchants National Bank.
Abbeville, S. CAdrian, MinnAinsworth, NebrAlexander, N. Dak___.Allendale, S. CArdmore, OklaBalaton, MinnBarnesville, OhioBarnwell, S. CBasin, WyoBeach, N. Dak..Beaver Creek, Minn.Bennetsville, S. CBridgewater, S. Dak.Buena Vista, GaBrandon, MinnCarlsbad, N. MexCarlyle, MontCarnegie, PaCarthage, S. DakCastlewood, S. Dak...Charleston, S. C
1 Restored to solvency.2 Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.3 Principal and interest paid in full.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 27
Title
First National BankDo_Do
First National Bank of GilmoreFirst National Bank
Do _.DoDoDoDo _.
Howard National BankFirst National Bank
DoDo
Citizens National BankFirst National BankLaurens National BankLehigh National BankFirst National Bank _.
Do_Do :Do
Llano National BankFirst National BankFarmers National Bank of Louisburg..First National BankNational Bank of LuverneFirst National BankWestern National BankFarmers National Bank of ManorFirst National Bank
DoDoDo -Do _Do
Neoga National BankFirst National BankFarmers National Bank of NewportFirst National Bank „..
D o . . . . .D o — . .
Osceola National BankPayette National Bank ._._First National Bank
DoFirst National Bank in PocahontasFirst National Bank __
Do_ _Do
Citizens National Bank of RoswellFirst National Bank
Do _ - .Do _DoDo
National Bank of CommerceFirst National Bank __
Do _„Sterling National BankStory City National BankFirst National Bank . . . , - .
DoAmerican National Bank.., „__„___First National Bank
Do _Do
Black Hawk National BankCitizens National BankNational Bank of Wessington Springs..
First National BankDoDoDo
Location
Fairview, MontFort Sumner, N. Mex__Galva, IowaGilmore City, IowaGlenwood, MinnGolva, N. DakHampton, GaHannaford, N. DakHarlowton, MontHayden, Colo.Howard, S. DakIndependence, IowaIngomar, MontIntake, Mont.Julesburg, Colo ,Lake Preston, S. DakLaurens, S. C ,Lehigh, Okla ,Lemmon, S. Dak_Lingle, Wyo___Lincoln, Ark ,Lineville, IowaLlano, TexLorena, Tex ,Louisburg, N. CLumberton, N. CLuverne, MinnMclntosh, S. DakMitchell, S. DakManor, Tex._Milburn, OklaMoore, MontMorristown, S. DakMountainair, N. Mex___Montpelier, IdahoMuldrow, OklaNcoga, 111New Hampton, IowaNewport, ArkOak Grove, LaOktaha, OklaOldham, S. DakOsceola, IowaPayette, IdahoPleasantville, IowaPlenty wood, MontPocahontas, IowaPoison, Mont.._Rexburg, IdahoRonan, MontRoswell, N. MexRoundup, MontSt. Anthony, IdahoSt. James, MinnSt. John, WashSalem, S. DakShawnee, OklaSpirit Lake, IowaSpring Hope, N. CSterling, ColoStory City, Iowa ,Sylvester, Ga „,Tabor, Iowa-Three Forks, MontUniversity Place, Nebr_,Warroad, MinnWapanucka, OklaWaterloo, IowaWayne, NebrWessington Springs, S
Dak.Wilder, Idaho.Wimbledon, N. DakWinifred, MontWinter Garden, Fla .
uoo1 Restored to solvency.2Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.'Principal and interest paid in full.* Dividends paid by purchasing bank.
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2 8 REPOET OF THE COMPTROLLER OF THE CURRENCY
BANK FAILURES OTHER THAN NATIONAL
Information furnished by the banking departments of the severalStates discloses that during the fiscal year ended June 30, 1929, therewere 482 failures of State and private banks, with liabilities aggregat-ing $134,605,000, as compared with 413 failures in the previous year,with total liabilities of $125,784,000.
Tables showing the number of failures and liabilities of banks otherthan national and national banks in each State, for the 6-monthperiods ended December 31, 1928, and June 30, 1929, together withsimilar figures for the year ended June 30, 1929, are published in theappendix of this report. The appendix also includes a table showingthe number and liabilities of State and national bank failures as ofJune 30 each year, 1914 to 1929, inclusive.
NATIONAL-BANK CIRCULATION
Although a reduction of $679,000,000 was made during the fiscalyear ended June 30,1929, in the interest-bearing debt of the UnitedStates, bonds eligible as security for national-bank circulation onJune 30, 1929, aggregate^ $674,625,630, the same as on June 30 ofthe year previous, comprising $599,724,050 consols of 1930; $48,954,-180 Panama Canal 2's of 1916-1936, and $25,947,400 Panama Canal2's of 1918-1938. On June 30 of the currentyear the Treasurer ofthe United States held as security for national-bank circulation$591,819,100 of consols and $74,380,040 Panama Canal 2's, a totalof $666,199,140, representing 98.75 per cent of the aggregate of cir-culation bonds outstanding.
The circulation of national banks outstanding on June 30 this yearamounted to $704,294,442, of which amount $662,773,570 was se-cured by bonds, and the remainder, $41,520,872, was secured bylawful money held by the Treasurer to provide for the redemption ofthe notes of banks retiring their circulation and on account of asso-ciations in liquidation.
In the year ended October 31, 1929, the withdrawal of bonds heldby the Treasurer of the United States in trust as security for national-bank circulation amounted to $46,680,800. The withdrawals byreason of liquidation of banks amounted to $29,185,580, and onaccount of banks placed in charge of receivers $1,802,760. Bondsheld by the Treasurer of the United States in trust as security forcirculation were augmented to the extent of $46,248,460 on accountof deposits made by newly organized banks and by those increasingtheir circulation. The transactions of the year by months in eachaccount named are shown in the following statement:
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REPORT OF THE COMPTROLLER OF THE CURRENCY 29
United States bonds deposited as security for circulation by banks chartered and bythose increasing their circulation, together with the amount withdrawn by banksreducing their circulation, and by those closed, during each month, year endedOctober 81, 1929
Date
Bondsdepositedby bankscharteredand thoseIncreasingcirculationduring the
i Includes $2,765,000 deposited by 30 of the 141 banks chartered during the year.
Statement of capital stock of national banks, national-bank notes, and Federal reservebank notes outstanding, bonds on deposit, etc.
Authorized capital stock of national banksPaid-in capital stock of national banks _ _
N o v . 1, 1929
$1,686, 251, 6651,685,918,429
Increase of authorized capital stockDecrease of authorized capital stockIncrease of paid-in capital stock.Decrease of paid-in capital stock _
National-bank notes outstanding secured by UnitedStates bonds, old and new series.-..
National-bank notes outstanding secured by lawfulmoney, old and new series—
Total national-bank notes outstanding, old andnew series ._.
$661,822,047
38, 506,768
700,328,815
Increase secured by United States bondsDecrease secured by United States bonds. _ ^..Increase secured by lawful money.... « __Decrease secured by lawful money _ _.
Net increaseNet decrease
Federal reserve bank notes outstanding secured byUnited States bonds
Federal reserve bank notes outstanding secured by law-ful money
Total Federal reserve bank notes outstanding
$3, 557, 901
3,557,901
Oct. 1, 1929
$1, 676, 066,0151,675, 565,794
Increase ordecrease since
above date
$10,185,650
10,352,635
$652,823,980
38, 564,685
691, 388, 665
Increase ordecrease since
above date
$8,998,067
57,917
8,940,150
$3,557,901
3,557,901
N o v . 1, 1928
$1,619,589,1151,618, 393,763
Increase ordecrease since
above date
$66,662, 550
67,524,666
$662,705, 675
37,446,779
700,152,454
Increase ordecrease sinca
above date
$883,6281,059,989
176,361
$4,049,608
4,049,608
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30 REPORT OF THE COMPTROLLER OF THE CURRENCY
Statement of capital stock of national hanks, national-bank notes, and Federal reservebank notes outstanding, bonds on deposit, etc.—Continued
Increase secured by UnitedDecrease secured by UnitedIncrease secured by lawful nDecrease secured by lawful i
Net increase
States bondsStates bondsloneynoney -
Net decrease -- _
Kinds of bonds on deposit
United States consols of1930 (2 per cent).
United States Panama of1936 (2 per cent).
United States Panama of1938 (2 per cent).
Total
On depositto securenational-
bank notes
$592,721,100
48, 444, 240
25,570,760
666, 736,100
One dollarTwo dollarsFive dollarsTen dollarsTwenty dollarsFifty dollarsOne hundred dollars.. .Five hundred d o l l a r s -One thousand dollars..Fractional parts
To ta l . . .Less i
Total
Increase ordecrease since
above date
Increase ordecrease since
above date
$491,707
491,707
National bank notes ofeach denominationoutstanding
Federal re-serve banknotes of eachdenomina-tion out-standing
$2,074,934639,792488,590143,005196, 53015,050
3, 557,901
3, 557,901
i Notes redeemed but not assorted by denominations.
REDEMPTION OF NATIONAL AND FEDERAL RESERVE BANKCIRCULATION
During the year ended June 30, 1929, national-bank notes, Federalreserve notes, and Federal reserve bank notes aggregating $1,768,-912,111.50 were redeemed in the United States Treasury at a totalexpense of $514,963.62.
Redemptions include Federal reserve notes amounting to $1,282,-667,215; Federal reserve bank notes received from all sources,$443,487; and national-bank notes of $485,801,409.50, the latteramount including $23,903,249.50 redeemed on retirement account.
National-bank notes were redeemed at an average cost of 95 centsper $1,000; Federal reserve notes received from sources other thanthe Federal reserve banks, 81 cents per 1,000 notes; canceled andother Federal reserve notes received direct from Federal reserve banksand branches, 39 cents per 1,000 notes redeemed; and redemption onaccount of Federal reserve bank notes at the rate of $1.27 per 1,000notes.
Statements showing the amount of national-bank notes, Federalreserve notes, and Federal reserve bank notes received monthly forredemption in the year ended June 30, 1929, the source from whichreceived, and the classification of redemptions, together with therate per $1,000 of national-bank notes redeemed, and the rate per1,000 notes of Federal reserve and Federal reserve bank notesredeemed, are published in the appendix of the report of the Comp-troller of the Currency.
NATIONAL BANKS OF ISSUEOf the 7,536 reporting national banks on June 29, 1929, there were
6,071 banks with capital of $1,324,743,000 issuing circulating notes,and on the date indicated the amount of notes outstanding aggregated
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REPORT OF THE COMPTROLLER OF THE CURRENCY 31
$649,452,000. The 1,465 banks which did not exercise the circulationprivilege had capital stock paid in amounting to $302,632,000.
A table disclosing, according to reserve cities and States, thenumber of national banks issuing circulation, their capital, amount ofcirculation outstanding, together with the number of associationsnot issuing circulation and their capital on June 29, 1929, is publishedin the appendix of this report.
CONDITION OF NATIONAL BANKS AT DATE OF EACH REPORTCALLED FOR DURING THE YEAR
Under authority of section 5211, Revised Statutes, national banks•were called upon to submit four reports of condition during the yearended October 31, 1929, as of various dates specified by the comp-troller.
Summaries of resources and liabilities of reporting banks on the dateof each report during the year, together with summary for October 3,1928, are shown in the following statement:
Abstract of reports of condition of national banks on dates indicated[In thousands of dollars]
Oct. 3,1928—7,676
banks
Dec. 31,1928—7,635
banks
Mar. 27,1929—7,575
banks
June 29,1929—7,536
banks
Oct. 4,1929—7,473
banks
RESOURCES
Loans and discounts (including redis-counts)!
OverdraftsUnited States Government securities
ownedOther bonds, stocks, securities, etc., owned.Customers' liability account of acceptances-Banking house, furniture and fixturesOther real estate owned _.._Reserve with Federal reserve banksCash in vaultDue from banks . . .Outside checks and other cash itemsRedemption fund and due from United
States Treasurer ._ _- . . .Acceptances of other banks and bills of ex-
change or drafts sold with indorsement..Securities borrowedOther resources _
Total _LIABILITIES
Capital stock paid in „Surplus fundUndivided profits—net.Reserves for dividends, contingencies, etc..Reserves for interest, taxes, and other ex-
penses accrued and unpaidNational-bank notes outstandingDue to banks (including certified and
cashiers' checks and cash letters of creditand travelers' checks outstanding)
Demand deposits..Time "deposits (including postal savings)...United States deposits.
Total depositsAgreements to repurchase United States
Government or other securities soldBills payable and rediscounts.. _Acceptances of other banks and bills of ex-
change or drafts sold with indorsement...Acceptances executed for customers.. _Acceptances executed by other banks for
account of reporting banksSecurities borrowedOther liabilities
Total
14,894,36115,606
3,012, 5844,104,022
429,034732, 455122, 773
1,467, 535364, 281
3,114, 09799, 213
33, 261
222, 50818, 545
295, 205
15, 279,63111, 638
3, 008,7234,118, 595
531, 305730,182123,050
1,496, 316388,129
4,184, 693116,187
33,426
329, 76420,472
217, 045
14,849, 92612, 257
3, 096,7603,973, 995
472,486726, 267126,903
1,404, 528363, 491
3,385, 66172, 290
32,786
247,86735,425
221,270
14,801,13010,193
2,803,8603,852, 675
397,333747,684
1, 344,951298,003
2, 569, 09870,095
32,740
164,86620,186
208, 575
14, 961,87715, 533
2, 704,8743,741, 014
484,728746,419121,684
1,320,427347,362
2,970,19069,921
32,854
188,92521, 929
196, 573
28, 925,480 30, 589,156 29,021, 912 27,440, 228
1, 615,7441,450, 499
549, 62458, 055
81,464
3, 507, 93211,073,1558,310,891
113,33328, 005, 311
35, 591707,581
222, 508420, 754
26,13318, 54585,123
1, 616, 4761,490,146
491, 68185,360
66,609650,405
4, 073, 55111, 780, 7218,306,938
186,17024,347,380
75,165785, 309
329, 764524, 725
23,24820,47282,416
1, 633, 2711, 528, 326
538, 74467, 271
80, 700647,848
3,498, 39710,934, 9948,166, 596
272, 89322, 872,880
53, 451703, 812
247,867473, 509
20,91835, 425
117, 890
28, 925, 480 30, 589,156 29,021, 912
1, 627, 3751,479, 052
487,50480, 832
73, 968649,452
2, 548,48210, 504, 2688,317,095
228, 24321,598,088
49, 660714, 507
164, 866392, 623
18, 64820,18683,467
27, 924,310
1,671,2741, 515, 241
555,87361,759
86,475641,104
2,829,96010, 568,012
8,301, 751202,274
21,901,997
41,690657, 572
188,925479,931
20, 61821,92979,922
27,440, 228 27,924,310
1 Includes customers' liability under letters of credit.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Principal items of resources and liabilities of national banks, October 4, 1929
1 Includes also customers' liability under letters of credit, but not acceptances of other banks and bills of exchange or drafts sold with indorsement.* Includes certified and cashiers' checks, dividend checks, and cash letters of credit and travelers' checks outstanding.
COCO
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34 KEPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL-BANK LIABILITIES ON ACCOUNT OF BILLS PAYABLEAND REDISCOUNTS
Liabilities of national banking associations for money borrowed onaccount of bills payable and rediscounts at the date of each call sinceOctober 31, 1928, are shown in the following statement:
Total borrowings of national banks on account of bills payable and rediscounts atdate of each call since October 81, 1928, according to geographical location
[In thousands of dollars]
Dec. 31,1928:Bills payableRediscounts
Total
Mar. 27,1929:Bills payableRediscounts
Total
June 29,1929:Bills payable _Rediscounts
Total
Oct. 4, 1929:Bills payable. .Rediscounts
Total
NewEngland
States
24,92835,840
60,768
41,07616,260
57,336
39,23529,506
68,741—
31,05423,984
55,038
EasternStates
397,67544,035
441,710
287,79536,299
324,094
281,86338,392
320, 255
139,63934,403
174,042
SouthernStates
51,14132,611
83,752
54,940• 39,908
94,848
61,83072,104
133,934
75,89180, 667
156,558
MiddleWesternStates
88,24766,709
154,956
94,31757,411
151,728
60,41967,476
127,895
74,00678,921
152,927
WesternStates
8,73810,387
19,125
9,5226,165
15,687
13,79516,485
30,280
.14,99216,504
31,496
PacificStates
22,1072,891
24, 998
55,2864,833
60,119
27,4105,992
33,402
76,87210, 639
87, 511
Total
592,836192,473
785,309
542,936160,876
703,812
484,552229,955
714,507
412,454245,118
657, 572
Total borrowings of national banks on account of bills payable and rediscounts atdate of each call since October 31, 1928, according to central and other reservecities and country banks
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KEPORT OF THE COMPTROLLER OF THE CURRENCY 3 5
LOANS AND DISCOUNTS OF NATIONAL BANKS
The statement following shows a classification of loans and dis-counts reported by national banks as of December 31, 1928, and June29, 1929:
Classification of loans and discounts as of December SI, 1928, and June 29, 1929
[In thousands of dollars]
Class
Dec. 31,
Amount
94,693
61,256301,231402,268
5, 527,327
309,863983,698
7,599,295
15,279,631
135,6033,008, 653
1928
Percent
0.62
.401.972.63
36.18
2.036.44
49.73
100.00
June 29,
Amount
91,006
39,339195,666365,009
5,113,792
308,7851,104,220
7, 583,313
14,801,130
102,6722,974,308
1929
Percent
0.61
.271.322.47
34.55
2.097.46
51.23
100.00
Acceptances of other banks, payable in United StatesNotes, bills, acceptances, and other instruments evidencing
loans payable in foreign countriesCommercial paper bought in open marketLoans to banks and trust companiesLoans secured by United States Government and other securi-
ties (exclusive of loans to banks)Real estate loans, mortgages, deeds of trust, and other liens
on real estate:On farm land _On other real estate ._._„ ._.
All other loans, including reporting banks' own acceptancespurchased or discounted „__.„
Total - i
Loans secured by United States Government obligationsTotal loans eligible for rediscount with Federal reserve banks.
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Loans and discounts of national banks June 29, 1929 1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CincinnatiClevelandColumbus .ToledoIndianapolisChicagoPeoria.DetroitGrand RapidsMilwaukee.MinneapolisSt. Paul-— _.Cedar RapidsDes Moines__DubuqueSioux CityKansas City, Mo...St. JosephSt. LouisLincolnOmahaKansas City, Kans.TopekaWichitaHelenaDenverPuebloMuskogeeOklahoma CityTulsaSeattleSpokane..Portland-__Los AngelesOakland...San FranciscoOgden _Salt Lake City
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40 EEPORT OF THE COMPTROLLER OF THE CURRENCY
COMPARATIVE STATEMENT OF LOANS AND DISCOUNTS, INCLUD-ING REDISCOUNTS, MADE BY NATIONAL BANKS DURING LASTTHREE FISCAL YEARS
The percentage of loans and discounts of national banks in thecentral reserve cities of New York and Chicago, to the total loans anddiscounts of all national banks on June 29, 1929, together with similarinformation in relation to banks in other reserve cities, etc., is shownin the following statement, compared "with like information for thefiscal years ended June 30, 1927, and 1928:
[In thousands of dollars]
Banks in—
-
New York
DoChicago . - . . -Other reserve cities __-.
All reserve cities -States (exclusive of reserve cities)
Total United States
Loans
June 30,1927
Amount
2,348, 645
} 3,030,5324,645,101
7,675,6336,280,063
13, 955,696
Per cent
16.83
21.7233.28
55.0045.00
100.00
June 30, 1928
Amount
2, 782, 766
3,581,7885,038,894
8,620,6826,524,313
15,144,995
Per cent
18.37
23.6533.27
56.9243.08
100.00
June 29, 1929
Amount
2,432, 945
2,952,0665,115,355
8,067,4216, 733,709
14,801,130
Per cent
16. 44
19.9534.56
54.5145.49
100.00
COMPARATIVE CHANGES IN DEMAND AND TIME DEPOSITS,LOANS AND DISCOUNTS, UNITED STATES GOVERNMENT ANDOTHER BONDS AND SECURITIES, AND THE AMOUNT OF RE-SERVE OF NATIONAL BANKS WITH FEDERAL RESERVE BANKSSINCE JUNE 30, 1925
The amount and percentage of increase or reduction of demandand time deposits, loans and discounts, United States and other bondsand securities owned, and reserve of national banks with Federalreserve banks on June 30 of each of the last five years, are shownin the following statement:
[In thousands of dollars]
June 30,1925
June 30,1926
Percentin-
crease
or de-crease
sinceJune30,
1925
June 30,1927
Percentin-
crease
or de-crease
sinceJune
30,1926
June 30,1928
Percentin-
crease
or de-crease
sinceJune30,
1927
June 29,1929
Percentin-
crease
or de-crease
sinceJune
30,1928
Demand depositsTime depositsLoans and discounts 1.United States and
1 Includes rediscounts and customers' liability under letters of credit.
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EEPOBT CD THE COMPTROLLER OF THE CURRENCY 41
UNITED STATES GOVERNMENT SECURITIES HELD BY NATIONALBANKS IN RESERYE CITIES AND STATES
The following statement shows a classification of United StatesGovernment securities owned by national banks according to reservecities and States, June 29, 1929. (In the appendix of this reportappears also a table which discloses, by reserve cities and States, aclassification of United States Government securities owned bynational banks on December 31, 1928):
United States Government securities owned by national banks June 29, 1929
[In thousands of dollars]
Cities
Bonds (in-cluding
bonds de-posited tosecure cir-culation)
Treasury-notes
Certificatesof indebted-
nessAll other Total
CENTRAL RESERVE CITIES
New York
Chicago--- -
Total central reserve cities...
OXPUB EESERVE CITIESBostonAlbanyBrooklyn and Bronx „Buffalo - . . .PhiladelphiaPittsburgh _.BaltimoreWashingtonRichmondCharlotte — ,AtlantaSavannah _JacksonvilleBirmingham _,New Orleans ,DallasEl P a s o . . .Fort WorthGalveston.. _Houston _.San AntonioWacoLittle RockLouisville.MemphisNashvilleCincinnatiCleveland.ColumbusToledoIndianapolisChicagoPeoriaDetroit.Grand Rapids ,Milwaukee. . . .MinneapolisSt. PaulCedar RapidsDes MoinesDubuqueSioux CityKansas City, MoSt. Joseph.. „St. Louis _LincolnOmaha. . _Kansas City, KansTopeka—Wichita. . -Helena - «-„---___-„„___
Total Western StatesWashington..Oregon . - .CaliforniaIdahoUtah „NevadaArizona-.. ._.
Total Pacific StatesAlaska (nonmember banks) __The Territory of Hawaii (nonmember
banks'}
Total (nonmsmber banks)—..Total country banks „ _Total United States _.
Bonds (in-cluding
bonds de-posited tosecure cir-culation)
6,3076,933
10,95317,0477, 5464,1439, 4563,748
21,146
87, 279
12, 3078,980
19, 9063,368
9071, 9833, 662
51,113
830
1,426
2, 256
846, 244
2, 004,173
Treasurynotes
2,1112,3871,3402,4602,4601,6351,4451,4755,890
21, 203
2,6611,8913,4391,596
14611
2,574
12, 318
50
50
157, 444
45::,988
Certificatesof indebted-
ness
1,0501,0051,2833,2962,588
9711,326
4472,690
14,656
1,348691
2,46414235
386686
5,752
All other
193141396308
1,20016724776
981
3,709
151299
1,59411012431
1, 243
3, 552
...j 160
| 160
101, 601
248, 707
Total
9,66110,46613,97223,11113,7946,916
12,4745,746
30, 707
126,847
16,46711,86127,4035,2161,2122,4118,165
72, 735
1,040
1,426
2,466
38,109 i 1,143,398
96,992 j 2,803,860
INVESTMENTS OF NATIONAL BANKS
The tables following disclose a summary of the investments ofnational banks in United States Government and other bonds andsecurities held June 30, 1928, and June 29, 1929, and a detailed classi-fication by reserve cities and States of bonds and securities other thanUnited States owned on June 29, 1929. (In the appendix of thisreport appears also a table which discloses, by reserve cities andStates, a classification of bonds and securities other than UnitedStates owned by national banks on December 31, 1928):
[In thousands of dollars]
Domestic securities:State, county, and municipal bonds „__ -Railroad bonds _ ___Other public service corporation bondsAll other bondsStock of Federal Reserve BankStock of other corporationsCollateral trust and other corporation notesMunicipal warrants..All other, including claims, judgments, etc „___...-
Foreign securities:Government bondsOther foreign securities, including bonds of municipalities, etc.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
United States Government, domestic, and foreign bonds, securities, etc., owned by national banks June 29, 1929
[In thousands of dollars]
Cities
CENTRAL RESERVE CITIES
New York .Chicago
Total central reserve cities.__
OTHER RESERVE CITIES
Boston _AlbanyBrooklyn and BronxBuffaloPhiladelphiaPittsburghBaltimoreWashington.RichmondCharlotteAtlantaSavannahJacksonvilleBirmingham. _New OrleansDallasEl Paso.. . . . .Fort Worth.QaivestonHouston _San AntonioWacoLittle RockLouisville
UnitedStates
Govern-mentsecuri-
ties
467,14936, 512
503,661
94,0425,9823,9331,047
49,5310,326
11, 74723, 2075,2012,820
15,9751,730
17,0446,5425,333
26,6505,2279,6006,638
20,54010,3034,939
66515,404
Domestic securities
State,county,
andmunici-
pal bonds
42,55515,464
58,019
7,7944,845
80344
11,5973,4034,346
883972260979405
6,1631,9431,2041,816
3333,501
5041,698
825333
319
Railroadbonds
86,2013,735
89,936
8,6341,0362,718
30414,00426,5772,7742,0851,306
510168795441
68516446
1011,234
147214
1,248
Otherpublicservicecorpora-
tionbonds
29,8144,332
34,146
9,9432,4493,142
23215, 73614,3552,5962,478
303
786217647592
66762
120229711225169
1,761
All otherbonds
47,9377,173
55,110
13, 7912,4372,722
42313,89631, 7993,0174,858
942122
1,836592
2,93164539
2,932413
1,5911,3343,634
7111,240
4,027
Stock ofFederalreservebank
18,4542,361
20,815
3,21127030033
3,7322,037
50758823211736222520227015053475
21590
4792506315
308
Stock ofother
corpora-tions
15,2171,265
16,482
11,9102,069
198
1,4312,446
280185
1,0961,151
385295
102921111856435222
1,0653881110
117
Collateraltrust and
othercorpora-
tionnotes
26,244726
26,970
2,932173795
6,61211,3522,262
633266
60
36140
753
5529413821
504
Munici-pal
warrants
3,6399,635
13,274
168
30
1154
239158
5091,266
14310
340349
1,596
Allother,
includ-ing
claims,judg-
ments,etc.
114510
624
3,173
384347222
31
247101
391451162045
I
Foreign securities
Govern-mentbonds
26,034980
27,014
1,0651,156
214168
5,2642,7121,478
198104
216514814960
379
26917053721495
Otherforeign
securities,includingbonds ofmunici-palities,
etc.
23,1632,319
25,482
6,407168
1,036215
3,3334,6791,588
57917
2559368
163
12316
16019081080
10975
Totalbonds,stocks,securi-
ties, etc.,otherthan
UnitedStates
319,37248,500
367,872
68,86014,77111,2121,424
75,98999, 73718,87012,4895,2381,6535,4952,144
11,3874,8051,5048,6223,1176,2682,964
10,6913,2102,234
1019,880
Total,all bondsand se-curities
786,52185,012
871,533
162,90220,75315,1452,471
125, 520210,06330,61735,69610,4394,473
21,4703,874
28,43111,3476,837
35,2728,344
15,8689,602
31,23113,5137,173
76625,284
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Memphis . , . . .Nashville-CincinnatiCleveland...ColumbusToledo ..IndianapolisChicagoPeoriaDetroitGrand RapidsMilwaukeeMinneapolisSt. PaulCedar EapidsDes MoinesDubuque __.Sioux CityKansas City, M o . . .St. JosephSt. LouisLincolnOmahaKansas City, Kans..Topeka___WichitaHelenaDenver...Pueblo..MuskogeeOklahoma CityTulsaSeattle—.SpokanePortland..Los AngelesOakland _.San FranciscoOgden ._Salt Lake City
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48 EEPOBT OF THE COMPTROLLER OF THE CUBBENCY
PER CAPITA INDIVIDUAL AND SAVINGS DEPOSITS IN ALL REPORT-ING BANKS
Statement showing the population, amount of individual deposits,per capita individual deposits, amount of savings deposits, and percapita savings deposits reported by all banks in each state, the Dis-trict of Columbia, Alaska, and insular possessions follows:
Per capita individual and savings deposits in all reporting banks June B9t 1929
1 Includes postal savings, Christmas savings, and other savings reported in column 4*2 Represents deposits evidenced by savings pass books and time certificates of deposit. (Does not include
postal savings or Christmas savings accounts.)
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REPORT OF THE COMPTROLLER OF THE CURRENCY 49Per capita individual and savings deposits in all reporting banks June 291 1929—
AlaskaThe Territory of HawaiiPorto RicoPhilippines
Total possessions
Total United Statesand possessions
881,474^ 52,531959,115716,851152,47350, 32627,371
* 151, 712
2,991,853
2,4714,543
13,02910,36318,9105,7168,4171,1625,248
69,859
42,66524, 354
8,62429,2078,302
21,340
134,492
3,20727,00812,95317,235
60,403
4,635,318
134,27455,666
184,223105,465162,238137,93170, 767
850,564
25,91332,43896, 53640,18514,7965,8845,677
82114,421
236,671
12,9158,791
7,7995,349
7714,507
40,132
4986,4581,0686,897
14,921
1,460,984
1,015,748108,197
1,143,338822,316314, 711188,25798,138
151, 712
3,842,417
28,38436,981
109,56550,54833,70611,60014,094
1,98319,669
306,530
55, 58033,145
16,42334,5569,073
25,847
174,624
3,70533,46614,02124,132
75,324
6,096,302
2,342,5623171, 731
3,857,0303 2,195, 224
929, 715281,451109, 698
«170,675
10,058,086
22,94335,94595,29929,361
3 71,63016,148
3 20,9413,520
29,900
325,687
149,07193,864
35,880103, 3928 12,479
47,154
441,840
5,350137, 72954, 752
374,169
572,000
15,409,828
85,428
3,75618, 5953,914
< 121, 730
233,423
5411,069
168
11,8971,091
14, 766
8791,016
1,895
3,264,721
33,304
3,9226,3052,454
45,985
367658
1,163
726245
3,159
231
121
352
226
226
292,170
118,732
7,67824,9006,368
121, 730
279,408
9081,727
1,331
12,6231,336
17,925
231
1,0001,016
2,247
226
226
3,556,891
8 279,277
20,35159, 29818.907
8136,948
514, 781
9503,219
428
3 29,5962,607
36,800
14, 5723 1, 705
16,277
7,183,186
2,5702,032
2,027
1,165«11
7,805
18
234
54
27,394
4,9006,473
688
5,066
17,127
470
103121
19
713
19,324
7,470'8,505
2,715
6,23111
24,932
488
105155
19
767
46,718
13,7753 6,643
9,084
4,1003 12
33,614
210
77S346
633
162,148
* Excludes postal savings and Christmas savings accounts, etc.2 Represents number of savings pass book accounts.
3 Estimated.* Includes time certificates.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Savings deposits and depositors in all reporting banks in the United States and possessions, according to class of banks, on or about June 29,1929-Continued
1 Excludes postal savings and Christmas savings accounts, etc.2 Represents number of savings pass book accounts.*Estimated.«Includes business of 11 guaranty savings banks and savings departments of 11 trust companies*6 Includes 1 stock savings bank with capital stock of $10,200.* Includes savings business of departmental banks.
OrCO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Savings deposits and depositors in all reporting banks in the United States and possessions, according to class of banks, on or about June 29, 1929—Continued
* Excludes postal savings and Christmas savings accounts, etc.a Represents number of savings pass book accounts.8 Estimated.
Or
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56 REPORT OF THE COMPTROLLER OF THE CURRENCY
EARNINGS, EXPENSES, AND DIVIDENDS OF NATIONAL BANKS
A comparative statement of the earnings, expenses, and dividendsof national banks for fiscal years ended June 30, 1928 and 1929, andstatements showing the capital, surplus, and the earnings, expenses,etc., of these associations in reserve cities and States and Federalreserve districts June 30, 1929, follow. (Similar tables for the6-month periods ended December 31, 1928, and June 30, 1929, arepublished in the appendix of this report.
EarningSj expenses, and dividends of national banks for the fiscal years endedJune 80, 1928 and 1929
[In thousands of dollars]
June 30, 1928(7,691 banks)
June 30, 1929(7,536 banks)
Capital stock...Total surplus fund _Dividends declared
Gross earnings:Interest and discount on loans _Interest (including dividends) on investmentsInterest on balances with other banksDomestic exchange and collection chargesForeign exchange department __.Commissions and earnings from insurance premiums and the negotiation
of real-estate loansTrust departmentProfits on securities soldOther earnings.
Total
Expenses paid:Salaries and wagesInterest and discount on borrowed moneyInterest on bank deposits.-Interest on demand deposits ..Interest on time deposits _Taxes ,Other expenses
Total. _
Net earnings .,Eecoveries on eharged-off assets:
Loans and discountsBonds, securities, etcAllother _
Total...
Losses and depreciation charged off:On loans and discountsOn bonds, securities, etcOn banking house, furniture, and fixturesOn foreign exchangeOther losses - _.
Total.
Net addition to profits_.__ _
1,593,8561,419,695205, 358
817, 231311,33826,60117,32513,437
16,16559,32881,982
1,344,406
262,60918, 61257,282129,005
68,750155,405
957,661
386, 745
19, 5197,3299,621
423, 214
92,10629,19118,150
18113,428
153,056
270,158
1, 627,3751,479,052222, 672
894,032320,41622,86218,06912,439
89620,68335,085100,103
1,424,485
271,80535,54846,462126,742281,01265,967159,346
437, 603
18,1497,828
473,246
86,81543,45825,132
24015,797
171,442
301,804
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1929[In thousands of dollars]
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Indiana.- __.Indianapolis -
Illinois _Chicago, Cent. ResChicago, other ResPeoria
Michigan s_Wisconsin
Milwaukee * __Minnesota
MinneapolisSt. Paul..._
Iowa9
Des MoinesSioux City _
Missouri..Kansas CitySt. JosephSt. Louis. __
Total Middle Western States
North Dakota —South Dakota- _Nebraska
Lincoln .Omaha
Kansas10.— _—TopekaWichita. ._
Montana11.Wyoming _Colorado12.. . ,
DenverNew Mexico __Oklahoma
Muskogee __Oklahoma CityTulsa —_
Total Western States
a Includes 1 bank in reserve city of Savannah.4 Includes 1 bank in reserve city of New Orleans,s Includes 1 bank in reserve city of Little Rock.«Includes 1 bank in reserve city of Memphis.* Includes 2 banks in reserve city of Toledo.• Includes 2 banks in reserve city of Grand Rapids; also 3 banks for Dec. 31,1928, and but 2 banks for June 30,1929, in reserve city of Detroit.9 Includes 2 banks in each reserve city of Cedar Rapids and Dubuque.i° Includes 2 banks in reserve city of Kansas City.« Includes 2 banks in reserve city of Helena.M Includes 2 banks in reserve city of Pueblo.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1929—Continued[In thousands of dollars]
Location
Washington"Seattle
OregonPortland.
California *«Los AngelesSan Francisco
IdahoUtah is . . . .
Salt Lake C i t y -NevadaArizona
Total Pacific States
Alaska—nonmemberThe Territory of Hawaii—nonmember..
Total noTiTTiP.Tnhp.r hanlrs
Total United States
Num-ber ofbanks
1006
867
19786
43164
1014
497
42
6
7,536
Capital
12,09011,5006,1457,000
25,44544,00076,0002,7301,5502,1001,5001,950
192, 010
275600
875
1,627,375
Surplus
5,1614,0003,1293,550
11,87229,00059,2501,152
5431,040
6251,155
120,477
172890
1,062
1,479,052
Capitaland sur-
plus
17,25115,5009,274
10,55037,31773,000
135, 2503,8822,0933,1402,1253,105
312,487
4471,490
1,937
3,106,427
Gross earnings
Interestand dis-
counton loans
6,3924,2373,3772,880
13,26123,95137,1931,885
9271,231
8161,214
97,364
168259
427
894,032
Interest(includ-ing divi-dends)
oninvest-ments
2,8621,9351,2223,0404,5535,559
12,956588188425223453
34,004
80161
241
320,416
Inter-est on
bal-anceswithotherbanks
2482221511266847625688936464857
3,037
1422
36
22,862
Domes-tic ex-changeand col-lectioncharges
32691
1532121311644813201161
1,449
2934
63
18,069
Foreignexchangedepart-ment .
8861
7211
2071,331
1
726
1,750
32
5
12,439
Commis-sions andearningsfrom in-surancepremi-
ums andthe nego-tiation of
realestateloans
22
1
43
5
75
83
2
2
896
Trustdepar t -
ment
10313813
102266
1,826967
212
2
3,422
2
2
20, 583
Profitson
securi-tiessold
2313062926
440100
4,479
3174
22
5,664
361
64
35,085
Otherearn-ings
853300314334
1,3782,3366,684
18845
152119214
12,917
37150
187
100,103
Totalgross
earnings
10,9387,5505,1996,733
20,84834,87264,3422,8131,2131,8931,2352,054
159,690
336691
1,027
1,424,485
T5
1
O
i
JQ
13 Includes 4 banks for Dec. 31,1928, and but 2 banks for.June 30,1929, in reserve city of Spokane.14 Includes 2 banks in reserve city of Oakland.w Includes 2 banks in reserve city of Ogden.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Abstract of reports of earnings f expenses, and dividends of national banks for the year ended June SO, 1929—-Continued[In thousands of dollars]
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Earnings, expenses, and dividends of national banks, by Federal reserve districts, year ended June SO, 1929
[In thousands of dollars]
CapitalSurplusCapital and surplus..
Gross earnings:Interest and discount on loansInterest (including dividends) on invest-
ments _Interest on balances with other banksDomestic exchange and collection charges.!Foreign exchange department. •Commissions and earnings from insur- !
ance premiums and the negotiation ofreal-estate loans
Trust departmentProfits on securities sold - - - - -Other earnings
DistrictNo. 1(371
banks)
126,257108,304234,561
25,5071,515
478602
Total,.
Expenses paid:• Salaries and wages -
Interest and discount on borrowed money.Interest on bank depositsInterest on demand depositsInterest on time deposits
Other expenses-
Total
Net earnings. „.Recoveries on charged-off assets:
Loans and discountsBonds, securities, etcAll other
Total .
1,8773,7378,199
111, 799
18,4623,0312,676
12,57024,4194,249
10,132
75,539
36, 260
8642,048
428
39,600
DistrictNo. 2(772
banks)
400,519471, 288871,807
198,433
87,4861,5033,837
118,417
10,89626,339
343,545
59,3458,17713,89241,95254, 26412,463
DistrictNo. 3(686
banks)
121,482221,545343,027
71,037
33,1931,142
487831
5846
3,9053,181
114,627
19,4773,6371,8289,01527,3745,72610, 732
226,078
117,467
3,1552,6061,177
36,838
582582433
124,405 38,434
DistrictNo. 4(704
banks)
125,005140,348265, 353
66, 668
34,6021,996
567277
111,0744,4816,383
116,059
20,2542,8463,241
11,01328,7726,481
11,496
84,103
31,956
637576230
DistrictNo. 5(490
banks)
91,35772,509
163,866
DistrictNo. 6(366
banks)
80,01557,193
137, 208
50,883
10,8581,2861,047
41
611973
3,761
I
69,466
13,4862,6561,6173,780
17,6514,3947,533
51,117
18,349
590102475
19,516
45, 569
8,9931,5841,859
300
4581594
4,484
DistrictNo. 7(960
banks)
190,165129,251319', 416
13,6232,8411,6103,74313,2894,1398,150
47,395
16, 573
86761872
18,373
121,327
32, 9092,9402,3451,575
1972,2112,29619,201
185,001
33,5284,3056,236
17,94530,8917,502
21,605
122,012
62,989
2,755541
1,130
67,415
DistrictNo. 8(474
banks)
37,717
12,1591,154
762
35327
1,0072,548
55,801
11,1931,9792,5014,183
10, 6783,6625,887
40,083
15, 718
901333291
17,243
DistrictNo. 9
60,04533, 71093, 755
33,871
14,9101,5971,912
106
475115
2,689
56,263
11,660725
2,0452,736
14,6822,5046,581
40,933
15,330
1,475239324
17,368
DistrictNo. 10
(891banks)
DistrictNo. 11
(678banks)
84,422 90,270 191, 36040, 967 46,332 120,122
125,389 136,602 311,482
DistrictNo. 12
(493banks)
51,824
17,0562,8491,426
17
66753656
5,885
80,532
18,5491,4933,8945,98412,3524,08510,943
57,300
23,232
2,574163
1,613
27,582
49,450
8,7322,2441,877
1348225
4,383
67,506
15,0951,5312,5635,3627,8354,5188,573
45,477
22,029
2,23343
380
24,685
96,942
33, 7703,0161,4091,724
3,4215,663
12,863
158,891
36,9052,3214,3408,397
38,6966,214
21,585
118,458
40,433
1,497531
2,314
44,775
Non-memberbanks
(6banks)
8751,0621,937
427
241
22
64187
1,027
2286
1962
10930
144
429
19
451
Grandtotal(7,536
banks) l
1,627,3751,479,0523,106,427
894,032
320,41622,86218,06912,439
20,58335,085
100,103
1,424,485
271,80535,54846,462
126,742281,01265,967
159,346
437,603
18,1497,828
473,246
i Includes nonmember banks of Alaska and the Territory of Hawaii.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
expenses, and dividends of national banks, by Federal reserve districts, year ended June SO, 1929—Continued
(In thousands of dollars]
Losses and depreciation charged ofE:On loans and discounts.On bonds, securities, etc .On banking house, furniture and fixtures.On foreign exchangeOther losses . .
Total
Net addition to profits—Total dividends declared since June 30,1928. _
Ratios:Dividents to capital2 . . .per cent..Dividends to capital and surplus 2_ _doNet addition to profits to capital 2_ _doNet addition to profits to capital and
surplus 2, per cent.-
DistrictNo. 1(371
banks)
6,82912,5171,684
71,011
22,048
17,55215,854
12.566.76
13.90
7.48
DistrictNo. 2(772
banks)
14,91710,9365,478
1232,484
33,938
90,46752, 585
13.136.03
22.59
10.38
DistrictNo. 3(686
banks)
4,0542,0591,256
92,383
9,761
28,67319,443
16.005.67
23.60
8.36
DistrictNo. 4(704
banks)
4,5833,6861,387
23561
10,240
23,15915,072
12.065.68
18.53
8.73
DistrictNo. 5(490
banks)
4,8831,101
685
516
7,185
12,33111,521
12.617.03
13.50
7.53
DistrictNo. 6(366
banks)
6,086579
1,0016
959
8,631
0,7429,946
12.437.25
12.18
7.10
DistrictNo. 7(960
banks)
13,9773,5602,951
441,898
22,430
44,98527,530
14.488.62
23.66
14.08
DistrictNo. 8(474
banks)
3,3141,005^596
1493
5,409
11,8348,815
13.448.64
18.04
11.60
DistrictNo. 9(645
banks)
5,454990
3,6.4
1,025
11,124
6,2446,936
11.557.40
10.40
6.66
DistrictNo. 10
(891banks)
7,6991,7711,697
11,789
12,957
14, 62511,104
13.158.86
17.32
11.66
DistrictNo. 11
(678banks)
7,027769999
11,426
10,222
14,4639,719
10.777.11
16.02
10.59
DistrictNo. 12
(493banks)
7,9574,3903,736
141,245
17,342
27,43334,003
17.7710.9214.34
8.81
Non-member
banks(6
banks)
359518
7
155
296144
16.467.43
33.83
15.28
Grandtotal(7,536
banks)
86,81543,45825,132
24015,797
171,442
301,804222,672
13.687.17
18.55
9.72
i3
* Capital and surplus as of June 30,1929
i
iiio
<3
3S
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KEPORT OF THE COMPTROLLER OF THE CURRENCY 69
National-bank investments in United States Government securities and other bondsand securities, etc., loans and discounts (including rediscounts), and losses chargedoff on account of bonds and securities, etc., and loans and discounts, years endedJune 80, 1918 to 1929, inclusive
NATIONAL BANKS CLASSIFIED ACCORDING TO CAPITAL STOCK
The recapitulation following concerns tables published in the ap-pendix of this report in relation to the number of national banks inreserve cities and States on December 31,1928, classified according tocapital stock, with amount of loans and discounts, bonds and securitiesowned, aggregate resources, paid-in capital stock, surplus and undi-vided profits, and total deposits.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
70 REPORT OF THE COMPTROLLER OF THE CURRENCY
National banks classified according to capital stock December 81, 1928[In thousands of dollars]
Num-ber ofbanks
Loansand
discounts
Bondsand
securitiesowned
Aggregate CapitalSurplusand un-dividedprofits
Total
Capital of less than $50,000Capital of $50,000 but less than
$200,000 -Capital of $200,000 but less
than $500,000Capital of $500,000 but less
* than $1,000,000....Capital of $1,000,000 but less
There are also published in the appendix tables showing by monthsthe profit on. national bank circulation based upon a deposit of $100,000United States consols of 1930, and Panama Canal bonds at the averagenet price during the year ended October 31, 1929. These tables aresupplemented by others showing the investment value of circulationbonds quarterly, and the monthly range of prices in New York in theyear ended October, 1929.
NATIONAL BANK EXAMINERS
The following is a list of the examiners in the service on November1, 1929:
ASSISTANT CHIEF NATIONAL BANK EXAMINERS
Office Comptroller of the Currency, Washington, D. C.Denton, F. R. Hodgson, R. M. McBryde, W. W. Smith, C. F.
DISTRICT CHIEF NATIONAL BANK EXAMINERS[By Federal reserve districts.]
F.R.DiskNo.
12
34
5
6
7
8
9
10
1112
Name
Williams, F. DReeves, Owen T., jrNewham, Stephen LTaylor, William
Byers, R. W.- . _..__
Robb, E. D_ _
Leyburn, A. P
Wood, John S _.
Wright, Irwin D _
Roberts, L. K
Collier, Richard HHarris, Thomas E
Address
Federal Reserve Bank Building, Boston, Mass.525 Federal Reserve Bank Building, New
York, N. Y.1500 Walnut St., Room 1503, Philadelphia, Pa.715 Federal Reserve Bank Building, Cleveland,
Ohio.National Metropolitan Bank Building, Wash-
ington, D. C.608 Fourth National Bank Building, Atlanta,
Ga.164 West Jackson Boulevard, Room 1209, Chi-
cago, 111.1310 Federal Commerce Trust Building, St.
Louis, Mo.1334 First National Soo Line Building, Minne-
apolis, Minn.800 Federal Reserve Bank Building, Kansas
City, Mo.1706 Republic Bank Building, Dallas, Tex.1103 Alexander Building, San Francisco, Calif.
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REPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL BANK EXAMINERS
71
F. R.Dist.No.
Address
3 Allanson, E. A
10 Allen, E. F -
5 Amrhein, Joseph A
9 Anderson, 0. A
2 Ash wood, Cecil4 Austin, James W5 Bailey, J. L.~3 Baker, W. B
12 Baldridge, William H6 Basham, A. A7 Baugh, G. W2 Beaton, Otis W
10 Becker, E. J--9 Bina, J. C . . -
10 Bishop, R. O
2 Black, H. W— —
4 I Bleakley, B. J3 Boysen, Alfred -7 Bryan, Charles A .
7 Burk, Lysle S.6 Byrne, J. J
Carter, Aubrey B. (U)---12 Chorpening, I. I4 Clarke, Addison A
2 Clarke, F. S1 Coffin, George M. (EEC)
12 Coffin, G. S12 Cooke, A. J .
6 Cottingham, T. J
6 Cunningham, F. F7 Cutler, W. A „5 Dalton, John W2 Dann, R. G3 Davenport, H. B5 Davis, Thomas H
12 Donahue, C. A
10 Donahue, W. H7 Donovan, Leo D1 Dooley, Thomas E9 Dougherty, J. M7 Dye, Sam W-8 Elkins, Lewis R
11 Embry, Jacob79003°—30 6
1500 Walnut Street, room 1503, Philadelphia,Pa.
800 Federal Reserve Bank Building, KansasCity, Mo.
910 Virginia Railway & Power Building,Richmond, Va.
9 Midland National Bank Building, Billings,Mont.
Statler Hotel, Buffalo, N. Y.715 Federal Reserve Bank Building, Cleveland.
Ohio.Post-office box 1185, Huntington, W. Va.1500 Walnut Street room 1503, Philadelphia.
Pa.403 Empire State Building, Spokane, Wash.Post-office box 940, Knoxville, Tenn.3111 Jackson Street, Sioux City, Iowa.525 Federal Reserve Bank Building, New
York, N. Y.Post-office box 186, Clinton, Okla.4532 Grand Avenue, Minneapolis, Minn.800 Federal Reserve Bank Building, Kansas
City, Mo.525 Federal Reserve Bank Building, New York,
N. Y.Post-office box 421, Wheeling, W. Va.Post-office building, Wilkes-Barre, Pa.164 West Jackson Boulevard, room 1209,
Chicago, 111.309 Federal Building, Des Moines, Iowa.Post-office box 741, Montgomery, Ala.185 Treasury Department, Washington, D. C.638 H. W. Hellman Building, Los Angeles,
Calif.715 Federal Reserve Bank Building, Cleveland
Ohio.General delivery, Kingston, N. Y.Care of First National Bank, Putnam, Conn.1103 Alexander Building, San Francisco, Calif.638 H. W. Hellman Building, Los Angeles,
Calif.608 Fourth National Bank Building, Atlanta,
Ga.Post-office box 822, Nashville, Tenn.Post-office box 527, Rock Island, ill.Post-office box 958, Charlotte, N. C.Post-office box 442, Utica, N. Y.Post-office box 61, Lancaster, Pa.Post-office box 1162, Columbia, S. C.638 H. W. Hellman Building, Los Angeles,
Calif.Post-office box 1546, Muskogee, Okla.164 West Jackson Boulevard, room 1209,
Chicago, 111.273 Grand View Terrace, Hartford, Conn.1334 First National Soo Line Building, Minne-
apolis, Minn.215 Central National Bank Building, Peoria, 111.214 Federal Building, Evansville, Ind.1706 Republic Bank Building, Dallas, Tex.
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72 REPORT OF THE COMPTROLLER OF THE CURRENCY
National Bank Examiners—Continued
F.K.Dist.No.
Address
Erdman, M. E
6 Evans, Clyde J4 Fans, A. B
11 Foster, Charles W2 Francis, C. C__ ___
10 Fraser, J. A_1 Freeman, O. M7 French, H. S __7 Fuller, Harry R4 Fulton, Ira J
Garrett, Robert D
Gaskell, George It
11 Gilbert, H. B12 Glazier, Charles A9 Goodhart, R. W. (REC)
12 Gray, W. M. (JG)1 Green, A. W5 Green, Charles W-.--__-8 Harrison, H. G
3 Hartman, Charles H4 Hauschild, L. P
11 Hawkins, J. W11 Hedrick, Gilbar C10 Hewitt, Roland B
Hooker, Robert K
12 Hooper, Marshall..7 Hopkins, R. L
11 Horton, B. E2 Hotchkin, Paul L9 Huck, William F1 Hurley, Michael J
11 Hutt, William E L -1 Isaac, John7 Johnson, C. E. H
7 Joseph Edw. M5 Kane, Thomas F
Kane, W. W3 Ketner, John H7 Laird, H. A
11 Lamb, Ernest12 Lamm, R. Foster,
Lammond, W. MLanning, L. C
Lanum, Harry L
525 Federal Reserve Bank Building, NewYork, N. Y.
Post-office box 1828, Atlanta, Ga.Post-office box 506, Richmond, Ky.519 Bedell Building, San Antonio, Tex.525 Federal Reserve Bank Building, New
York, N. Y.Post-office box 574, Hutchinson, Kans.205 Governor Street, Providence, R. I.164 West Jackson Boulevard, Chicago, 111.Post-office box 592, Indianapolis, Ind.715 Federal Reserve Bank Building, Cleve-
land, Ohio.Care of division of insolvent national banks,
office Comptroller of the Currency, TreasuryDepartment, Washington, D. C.
715 Federal Reserve Bank Building, Cleveland,Ohio.
Post-office box 318, Wichita Falls, Tex.Post-office box 226, Provo, Utah.Care of division of insolvent national banks,
office Comptroller of the Currency, TreasuryDepartment, Washington, D. C.
514 Post-office Building, Portland, Greg.Federal Reserve Bank Building, Boston, Mass.Post-office box 334, Cumberland, Md.1310 Federal Commerce Trust Building, St.
Louis, Mo.1500 Walnut St. room 1503, Philadelphia, Pa.Post-office box 473, New Castle, Pa.Post-office box 1471, Abilene, Tex.1706 Republic Bank Building, Dallas, Tex.800 Federal Reserve Bank Building, Kansas
City, Mo.1310 Federal Commerce Trust Building, St.
Louis, Mo.522 Central Building, Seattle, Wash.405 Federal Reserve Bank Building, Detroit,
Mich.Post-office box 1584, Waco, Tex.326 Ten Eyck Street, Watertown, N. Y.306 Dakota Bank Building Aberdeen, S. Dak.Federal Reserve Bank Building, Boston, Mass.Sherman, Tex.Federal Reserve Bank Building, Boston, Mass,164 West Jackson Boulevard, room 1209,
Chicago, 111.547 Cherry Street, SE., Grand Rapids, Mich.National Metropolitan Bank Building, Wash-
ington, D. C.207 Federal Building, Louisville, Ky.406 Carsonia Avenue Pennside, Reading, Pa.309 Federal Building, Des Moines, Iowa.Post-office box 667, Greenville, Tex.1124 North Olive St. Santa Ana, Calif.Post-office box 1364, New Orleans, La.525 Federal Reserve Bank Building, New
York, N. Y.Post-office box 463, Columbus, Ohio.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY
National Bank Examiners—-Continued
73
F.R.DiskNo.
Address
122
6
9
1
2
3
9
12
52
1210
310
812512
109
745
121
101111127
10
Lifeey, W. P..Lilly, John F_Linden, C. CLorang, P. J_.
Luiken, John B_Luscombe, A. P__
10 ! Lyon, C. W
Lyons, Gibbs (U).
Lytle, Frank S-
McCall, W. P . .McCans, A. B_
McGinnis, F. J_.
McLaren, D. D_
McLean, C. H_.
McMullan, J. R_
Machleid, C. J_Madland, L. L.Male, W. N - _ .
Mann, Stuart H_
Medill, George L_Miller, P. V
Mooney, R. EMorgan, C. EMotter, Charles W-Murphy, Daniel F«.Neill, Robert
Nelson, F. S_Nelson, Nels.
Nolan, W. RNorman, Louis A . . .Ockershausen, F. C.
O'Connor, T. J
Palmer, R. E. A.Parker, Edw. F_.Penn, D. VPeterson, F R_.Pierce, W. WPrice, A. E__Quinn, Henry F_
Rafter, Charles 1
Post-office box 442, Albany, Ga.Care of LaFayette Hotel, Little Rock, Ark.326 Yates Building, Boise, Idaho.525 Federal Reserve Bank Building, New
York, N. Y.720 Bell Building, Montgomery, Ala.525 Federal Reserve Bank Building, New
York, N. Y.800 Federal Reserve Bank Building, Kansas
City, Mo.Care of division of insolvent national banks
office of Comptroller of the Currency,Treasury Department, Washington, D. C.
1334 First National Soo Line Building, Minne-apolis, Minn.
Federal Reserve Bank Building, Boston, Mass.525 Federal Reserve Bank Building, New
York, N. Y.1500 Walnut Street, room 1503. Philadelphia,
Pa,201 Security National Bank Building, Sioux
Falls, S. Dak.638 H. W. Hellman Building, Los Angeles,
Calif.National Metropolitan Bank Building, Wash-
ington, D. C.184 Atlantic Avenue, Lynbrook, N. Y.522 Central Building, Seattle, Wash.800 Federal Reserve Bank Building, Kansas
City, Mo.1310 Federal Commerce Trust Building, St.
Louis, Mo.Post-office box 32, Altoona, Pa.800 Federal Reserve Bank Building, Kansas
City, Mo.Post-office box 1092, Louisville, Ky.1103 Alexander Building, San Francisco, Calif.Post-office box 332, Raleigh, N. C.31 Hubbard St. Manchester, N. H.525 Federal Reserve Bank Building, New
York, N. Y.202 Federal Building, Grand Island, Nebr.1334 First National Soo Line Building, Minne-
ington, D. C.525 Federal Reserve Bank Building, New
York, N. Y.522 Central Building, Seattle, Wash.Federal Reserve Bank Building, Boston, Mass.Post-office box 1091, Oklahoma City, Okla.Care of Federal Reserve Bank, Houston, Tex.Post-office box 556, Corsicana, Tex.1103 Alexander Building, San Francisco, Calif.319 Citizens National Bank Building, Decatur,
111.Post-office box 296, Salina, Kans,
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
74 REPORT OF THE COMPTROLLER OF THE CURRENCY
National Bank Examiners—Continued
F.R.Dist.No.
Address
5 Ramsdell, P. C
3 Ransom, F. T
2 Rasinussen, Frank E...
7. Reimers, D. H. (JG)-.2 Robinson, H. P
10 Roetzel, G. F11 Roots, J. O10 Ross, M. A4 Rossman, Richard
12 Rummel, John T1 Ryan, Frank J
Rial, B. P. (JG) (U)—.
7 Sanders, J. L4 Schechter, W. J
Schofield, John W. (U)9 Sedlacek, L. H
9 Sevison, Henry12 Shapirer, Leo «...2 Shea, L. A
2 Sheehan, W. F2 Shroyer, R. R
11 Sibley, W. L3 Siebert, J. H4 Sims, M. H3 Smith, George F4 Smith, George H
5 Snapp, John W
3 Snyder, Vernon G
9 Stevens, L. T
Stewart, Adelia M
5 Stewart, Charles A2 Stewart, H. E
12 Stobie, Charles A5 Stokes, H. F. (JG)
10 Stout, C. L3 Stover, L. W2 Strong, J. M
7 Stuart, Robert K ,4 Swensen, Loren T
12 Taylor, O. C12 Tolton, A. F7 Utt, J. F9 Van Brunt, L. J
National Metropolitan Bank Building, Wash-ington, D. C.
1500 Walnut Street, room 1503, Philadelphia,Pa.
525 Federal Reserve Bank Building, NewYork, N. Y.
213 Federal Building, Des Moines, Iowa.525 Federal Reserve Bank Building, New
York, N. Y.Post-office box 1091, Oklahoma City, Okla.Post-office box 1062, Austin, Tex.Post-office box 508, Norfolk, Nebr.Post-office box 1058, Pittsburgh, Pa.1103 Alexander Building, San Francisco, Calif.Federal Reserve Bank Building, Boston, Mass.Division insolvent national banks, office of
Comptroller of the Currency, Washington,D. C.
Post-office box 592, Indianapolis, Ind.Post-office box 1058, Pittsburgh, Pa.1539 Hay worth Avenue, Hollywood, Calif.1334 First National Soo Line Building, Min-
neapolis, Minn.309 Torrey Building, Duluth, Minn.1103 Alexander Building, San Francisco, Calif.525 Federal Reserve Bank Building, New York,
N. Y.Do.Do.
Post-office box 1223, Shreveport, La.Post-office box 491, Williamsport, Pa.No. 10, 5527 Center Avenue, Pittsburgh, Pa.Post-office box 981, Harrisburg, Pa.Apartment 702-A, Penn Albert Hotel, Greens-
burg, Pa.National Metropolitan Bank Building, Wash-
ington, D. C.Post-office box 231, Sunbury, Pa.4929 Pleasant Avenue South, Minneapolis,
Minn.Room 217, Treasury Department, office Comp-
troller of the Currency, Washington, D. C.Post-office box 97, East Falls Church, Va.525 Federal Reserve Bank Building, New
York, N. Y.Post-office box 313, Honolulu, Hawaii.National Metropolitan Bank Building, Wash-
ington, D. C.Post-office box 197, Cheyenne, Wyo.7040 Ruskin Lane, Philadelphia, Pa.525 Federal Reserve Bank Building, New York,
N. Y.906 Michigan Avenue, Evanston, 111.715 Federal Reserve Bank Building, Cleve-
land, Ohio.1103 Alexander Building, San Francisco, Calif.1107 A. Mattei Building, Fresno, Calif.Sheridan Apartments C-2, Fort Wayne, Ind.18 Magill Block, Fargo, N. Dak.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY
National Bank Examiners—Continued
75
F.R.Dist.No.
8977
42
10111210
12
27
11589
128
Name
Von Arb, E. AVon Birgelen, F. MWalker, Harry WWanberg, J. F . _ . __
Ward, M. MWatts, John LWhite, 0. WWhitehurst, W. MWilde, Max CWilliams, E. L
Williams, T. B
Wilson, C. F_—
Wilson, E. B „___„Wilson, George RWitt, G. T _.Wood, D. RWoodside, HalWray, H. L___
Wright, E. MYoung, William R
Address
520 East Sixth Street, Centralia, 111.103H Fourth Street, Bismarck, N. Dak.Hotel Witter, Wisconsin Rapids, Wis.164 West Jackson Boulevard, room 1209, Chi-
cago, 111.Post-office box 621, Cincinnati, Ohio.525 Federal Reserve Bank Building, New
York, N. Y.506 California Building, Denver, Colo.1706 Republic Bank Building, Dallas, Tex.514 Post Office Building, Portland, Oreg.800 Federal Reserve Bank Building, Kansas
City, Mo.638 H. W. Hellman Building, Los Angeles,
Calif.Room 202, Treasury Department, office of
Comptroller of the Currency, Washington,D. C.
Post-office box 607, Albany, N. Y.Post-office box 589, Danville, 111.Post-office box 1224, Amarillo, Tex.Pulaski National Bank Building, Pulaski, Va.1248 Washington Avenue, Springfield, Mo.1334 First National Soo Line Building, Min-
neapolis, Minn.514 Post Office Building, Portland, Oreg.407 Central State National Bank Building,
Memphis, Tenn.
(REC)=Acting as receiver of a national bank.(JG)=National bank examiner, ] unior grade.(U)=Unassigned.
CONVICTIONS OF NATIONAL BANK OFFICERS AND OTHERS FORVIOLATIONS OF THE NATIONAL BANKING LAWS DURING THEYEAR ENDED OCTOBER 31, 1929
Information furnished by the Department of Justice relative toconvictions during the year ended October 31, 1929, of officers andemployees of national banks, and others, for violations of the nationalbanking laws, is shown in the following statement:
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Criminal cases under the national banking laws resulting in conviction during the year ended October SI, 1929
Name of officer and others
Adams, James B
Alloway, B. L
Baker, Silas L_.Barker, B. C__.Bartlett, R. P . .Baugh, Roy O_.
Beekman, Howard FBench, Joseph HBibb, GeorgeBlack, Bradshaw Hamil-
ton.Bonchetti, Ferruccio
Bostwick, James Emery..
Braden, Grover J
Brown, Guy W__.Brown, JesseBrown, W. LCaldwell, Jess M.Canning, Frank._Coleman, D. R. . .
Cooper, S. C.Cotter, E. V..Cotter, Mae..
Crombie, John CDean, William MDe Arment, R. Gordon
Denman, William C_._
Dennis, Glenn F__Dillon, J. C__.
Dodson, J. SEckman, P. F
Position
Teller
Note teller and gen-eral manager.
CashierBookkeeperDirectorReceiving and pay-
ing teller.BookkeeperTeller
Bookkeeperdo
Manager foreign de-partment.
Employee
Clerk .1
Vice president.do
CashierTellerAssistant manager..
Bookkeeper .
Teflerlllllll
ClerkTellerReceiving and pay-
ing teller.Cashier and vice
president.CollectorBookkeeper* _____
PresidentTeller.....
Title and location of the bank
First National Bank, Nanticoke, Pa
Baldwin National Bank, Baldwin, N. Y
First National Bank, Earlville, N. Y _Commercial National Bank, Muskogee, Okla...First National Bank, Rice, TexCity National Bank, Knoxville, TennFirst National Bank, Montclair, N. JBank of Italy National Trust & Savings Asso-
ciation, Selma, Calif.First National Bank, El Paso, TexBrotherhood National Bank, San Francisco,
Calif.First National Bank, Bridgeville, Pa
Bank of Italy National Trust & Savings Asso-ciation, Los Angeles, Calif.
Los Angeles First National Trust & SavingsBank, Los Angeles, Calif.
Fayette City National Bank, Fayette City, Pa..do.
First National Bank, Lawrenceville, Ga__National Bank of Commerce, Shawnee, Okla__.First National Bank, Garfield, N. JBank of Italy National Trust & Savings Asso-
ciation, Escondido, Calif.First National Bank, Crosbyton, TexFirst National Bank, Murphysboro, HI
do
United States National Bank, Portland, Oreg..First National Bank, Montgomery, AlaFirst National Bank, Sharon, Pa
National Bank of Auburn, Auburn, N. Y_.
First National Bank, Brownsville, TexFirst National Bank, Mullen, W. Va
Misappropriation and misapplica-tion.
False entries and embezzlement. _.
Misapplication and false entries...do
Abstraction ._ ___Abstraction and false entries
False entryEmbezzlement..
AbstractionEmbezzlement..
Aider and abettor.
Embezzlement.,do ,
Aider and abettor-.
EmbezzlementEmbezzlement, misapplication,
and false entries.Misapplication, embezzlement,
and false entries.
First National Bank, Casa Grande, Ariz._Citizens & Southern National Bank, Atlanta,
Misapplication..-Embezzlement. -.
SentenceDate of sen-
tence
1 year, on probation.
Suspended
4H years _„.$100 fine.12 months2 years
5 years2H years...15 months..1 year
3 years
3 months...
2 years
3 years3 years, on probation4 months and $300 fine5 years3 years3 years, on probation
3 years1 year and 1 day30 days in jail; 2 years on
probation; probated toL. Glenn.
18 months-2 years _3 years
1H years.
SllS-lyear ____._.5 years, sentence
Dended.2 years, on probation15 months
Mar. 12,1929
Apr. 16,1929
Apr. 11,1929Mar. 5,1929June 17,1929May 28,1929
Dec. 17,1928Mar. 14,1929
Jan.July
5,19292,1929
July 9,1929
Mar. 4,1929
Feb. 25,1929
May 7,1929Do.
Apr. 3,1929Nov. 30,1928Jan. 7,1929May 18,1929
June 10,1929Mar. 28,1929
Do.
Nov. 23,1928Dec. 7,1928Nov. 15,1928
Do.
Dee. 10,1928June 19,1929
Mar. 7,1929Mar. 23,1929
Oog
I
I
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
3Sstil, jr., Wallace..-- j PresidentFellman, Warner P Pro-assistant cashier.Fernald, Lewis.. . . . . . .Ficklen, Fielding H . .Fisher, H. A_. —Fisher, Virgil T - .Flint, Curtis E____. . .Forbes, W. L _
Furness, George B.Garrison, O. H
Gentry, ArchieGoddard, William __..Godfrey, S. GGreenshield, James Stuart.
Hacker, Alfred GeorgeHamilton, J. BHamilton, William L
Hanson, J. Walter...Harmon, Raymond..
Harmon, Thomas CHaun. Floyd EHazlett, L. C
Hoegsberg, Knudt B.
Hollister, M. W _
Holm, Holbert O_Holman, V. L..._Hopkins, John A.Huff, H. CHurst, TedHyde, C. T
Jenkins, Audrey D_
Jennings, William . .
Jewell, Alvin . „King, Sidney Ralph.Knudson, OscarExause, Frank J......Lane, Riley T ._
Collection teller.Receiving tellerTellerManager auto loan
department.
National Bank of Commerce, Shawnee, Okla_>,Bank of Italy National Trust & Savings Asso-
ciation, San Rafael, Calif.Citizens National Bank* Baker, Oreg ._National Bank of Wilkes, Washington, Ga.First National Bank, Menasha, WisWyoming National Bank, Casper, Wyo.._.._...First National Bank, Hynes, Calif . . . . . .First National Bank, Kosse, Tex ..
First National Bank, Murphysboro, 111Chase County National Bank, Cottonwood,
Kans.National Bank of Commerce, Eldorado, ArkFirst National Bank, Sardis, Ohio.First National Bank, Cheraw, S. CSouth Pasadena National Bank, South Pasa-
dena, Calif.National State Bank, Newark, N. J. ,First National Bank, Wetonka, S. DakCity National Bank, Bridgeport, Conn
Merchants National Bank, Omaha, Nebr.Virginia National Bank, Petersburg, Va_.
City National Bank, Knoxville, TennCavalier County National Bank, Langdon,
N. Dak.Anglo & London-Paris National Bank, San
Francisco, Calif.North Syracuse National Bank, North Syracuse,
N. Y.First National Bank, Ryder, N. Dak . . . . . .First National Bank, Toledo, OregFirst National Bank, Detroit, MichFirst National Bank, Sanford, Fla.__......_.__.First National Bank, Central City, Ky__Bank of Italy National Trust & Savings Asso-
ciation, Woodland, Calif.City National Bank, Knoxville, Tenn
Old Citizens National Bank, Zanesville, Ohio...
National Bank of Commerce, Eldorado, Ark_.do.
Deseret National Bank, Salt Lake City, Utah...City National Bank, Bridgeport, ConnBank of Italy National Trust & Savings Asso-
ciation, Maryyille, Calif.National Shawmut Bank, Boston, Mass
Misapplication and false entries-..Embezzlement.. ___Accepting commissions on loans...Abstraction and misapplication*..Misapplication . . „ __*Misapplication, false entries, and j
false repot ts.Misapplication |
18 months5 years, on probation .$1,000 fine.....$.1,750 fine. ———_.3 years.. _10 months5 years, en probation......1 year and i day
2 years-..$250 fine-
Aider and abettor..Misapplication and false entries.._Misapplication
False entries..False entries and false report-
Embezzlement and false entries. _.False entries, misapplication, and
abstraction.do
Embezzlement „._
Conspiracy and false entries..
Embezzlementdo.do.
AbstractionAbstraction and false entriesEmbezzlement _
Embezzlement, misapplication,and false entries.
Aider and abettor..MisapplicationEmbezzlement and false entries.
Misapplication..................
2 years and $100 fine..1 year and 1 day.—..7 years..1 year and 1 day.-.. .
2 years, on probation.,.11 months....$1,500 fine..1 year and 1 day..3 years.-...—...
do...10 years and $10,000 fine.,$500 fine ,
7 years and $5,000 fine....
4 years, on probation
13 months... „4 years ....$200 fine . . . — . . .1 year and 1 day
.do.1 year . . . . . . . . . . . .
5 years, on probation
18 months, on probation.2 years and $100 fine.
do..5 years$1,500* fine.........3 years, on probation.....
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Criminal cases under the national banking laws resulting in conviction during the year ended October 81, 1929—Continued 400
3
OOg
Name of officer and others Position Title and location of the bank Offense Sentence Date of sen-tence
Linn, Benj. HLogue, J. ALott, Zona EMcHenry, Louis HMeKean, J. S
McMiUin, J. Edward
Marter, Alexander B_Matheny, S. CMistier, Albert AMyers, Leslie L
Cashier,.do..
Teller..do...
Clerk...
Teller...
Employee-Teller
Nelson, LloydNolte, F. R
O'Neil, James BPatrick, Arthur EPinkard, R. TPutnam, F. RRaborn, Robert Ross.Read, Elbert ARead, Thomas HReese, Carroll LRenfrow, Raymond-..Renick, Arthur CRhodes, Allen H
_ , oClerk and bond
teller, California-M o n t g o m e r y
Branch.CashierTeller
doPresident...Bookkeeper.Cashier
First National Bank, Parshall, N. DakFirst National Bank, Jackson, MissFourth National Bank, Atlanta, GaFirst National Bank, Detroit, MichNational Bank of Huntington Park, Hunting-
ton Park, Calif.First National Bank of Lawrence County, New
Castle, Pa.National Security Bank, Philadelphia, PaSeaport National Bank, Houston, TexBergen National Bank, Jersey City, N. JBank of Italy National Trust & Savings Asso-
ciation, San Francisco, Calif.
Embezzlement and false entries-AbstractionEmbezzlement
Embezzlement and abstraction..
Misapplication.. _Embezzlement
Embezzlement..
$100 fine5 years.1 year and 1 day60 days.3 years, on probation
1 year
3 years5 years, suspended.1 year.5 years .
Vice president-PresidentBookkeeper
doCashierBookkeeper
First National Bank, Milroy, IndPeoples First National Bank of Charleston,
Charleston, S. C.First National Bank, Los Angeles, CalifFarmers National Bank, Chandler, OklaFirst National Bank, Ferrum, VaMorris National Bank, Morris, Minn_National Bank of Commerce, Eldorado, Ark—First National Bank, Shenandoah, Iowa
Misapplication..
-do.
Embezzlement ^False entries and misapplication.EmbezzlementFalse entriesAider and abettorMisapplication and false entries..
Riphahn, James JosephRobertson, George C . . .
Ross, Ernest L_
Sanders, J. B.__
Sanford, R. R__-Scott, Arthur V-
TellerPresident
Employee foreign de-partment.
President
Lindsay National Bank, Gainesville, TexStockyards National Bank, Kansas City, Mo.-.First National Bank, Mount Hope, W. VaBank of Italy National Trust & Savings Asso-
ciation, Oakland, Calif.First National Bank, Madison, WisMontgomery County National Bank, Cherry-
vale, Kans.First National Bank, Boston, Mass
sapp.
2 years, on probation 5years.
4 years$1,000 fine-60 days-$1,000 fine -2 years and $100 fine
Abstraction..
False entries .
Embezzlement..do
$3,000 fine2 years$150 fine5 years3 years, on probation..
18 monthg..5 years
Schweer, H. FSchweer, L. HSeeders, Paul D
BookkeeperAssistant cashier.
President..Cashier...Teller—..
Chase County National Bank, Cottonwood,Kans.
First National Bank, Orange, TexAnglo & London-Paris National Bank, San
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Seth, Mrs. Catherine BatesShepherd, JohnShickley, Wayne Byron.-.Shultes, F. ASpencer, James AStarns, Spencer „
Stockard? W. A___Stockwell, V. A. . .Strauss, Frank L.Sullivan, P. D____
Toner, Fred AVeeck, William J_
Vierieh, Henry FWaller. O. W ._Warfield, Ralph L
Welling, I. T
West, R. A___Westerberg, Edward R
Whaley, T. W
Woodward, MaeWycott, Harold H_ _.Young, R. HYoupe, John,_,«___.
Bookkeeper,.do.
Teller _.President __Assistant cashier.Cashier
President-Cashier.. _
.do.-do..
Teller...Cashier.
Savings tellerCashierClerk
Vice president andcashier.
BookkeeperCashier
..do..
Bookkeeper.Cashier
.do..Teller
Ashland National Bank, Ashland, KyLindsay National Bank, Gainesville, TexFirst National Bank, Thermopolis, WyoFirst National Bank, Bonners Ferry, IdahoFirst National Bank, Dillwyn, VaVan Zandt County National Bank, Wills Point,
Tex. jFirst National Bank, Rice, TexFirst National Bank, Bassett, Nebr. jOrrville National Bank, Orrville, Ohio \First National Bank, Mullen, W. Va
Misapplication and false entries...do „
Merchants National Bank, Omaha, NebrFarmers & Merchants National Bank, Boon-
ville, Ind.First National Bank, Fontana, CalifFirst National Bank, Leesburg, FlaBank of Italy National Trust & Savings Associ-
ation, San Francisco, Calif.Carolina National Bank, Darlington, S. C
Fort Worth National Bank, Fort Worth, Tex...National Bank of North Hudson, Union City,
N. J.First National Bank, Kosse, Tex
National Exchange Bank, Steubenville, Ohio..Croghan National Bank, Croghan, N. YFirst National Bank, Lawrenceville, GaPhillipsburg National Bank & Trust Co., Phil-
lipsburg, N. J.
Embezzlement and false entries...
3 months2 years10 monthsm years5 years, on probation3 years
12 months..2 years
do..
Embezzlement.False entriesAbstraction
5 years, sentence sus-pended.
1 year and 1 day2 years, suspended 5 years.
I 2 years, on probationI 1 year and 1 day.! 2 years, on probation
I 8 years
| $124.75 fine _Misapplication I 5 years
Misapplication, false entries, and | 1 year and 1 dayfalse reports. I
_ 18 monthsEmbezzlement and false entries...| 3 years
2 months and $150 fine-False entries and abstraction 2 years, on probation
Gold reserves ___Other cash reserves __Nonreserve cash _ IBills discounted _Bills bought in open marketUnited States Government obligations.Other bills and securitiesUncollected i tems _All other assets
Total.
LIABILITIES
Federal reserve notes in circulation.Federal reserve bank notes in circulation—net liability.Deposits:
Member bank—reserve accountGovernmentOther
Deferred availability itemsCapital paid in „Surplus „All other liabilities
1 Includes (in addition to bills discounted and bought and United States securities) municipal warrants,Federal intermediate credit bank debentures, and foreign loans on gold.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
82 BEPORT OF THE COMPTROLLER OF THE CURRENCY
Percentage of bills discounted secured by United States Government obligations tototal bills discounted and purchased by Federal reserve banks at the end of eachmonth, year ended October 81, 1929
The discount rates of each of the 12 Federal reserve banks in effectNovember 1, 1929, the date established, and the previous rate withrespect to all classes and maturities of eligible paper are shown inthe following statement:
Rates on all classes and maturities of eligible paper
Federal reserve bankRate ineffect onNov. 1
Date estab-lished
Previousrate
BostonNew York....Philadelphia-ClevelandKichmondAtlantaChicagoSt. LouisMinneapolis-Kansas City..DallasSan Francisco
Discount rates prevailing in Federal reserve bank and branch cities
In the table following, prepared by the Federal Reserve Board andpublished in the Federal Eeserve Bulletin for November, 1929, therates shown are those at which the bulk of the loans of each classwere made by representative banks during the week ending withthe 15th of the month. Rates reported by about 200 banks withloans exceeding $7,500,000,000:
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEDERAL RESERVE BANK CITIES
Month Boston New York Philadel-phia Cleveland Richmond Atlanta Chicago St. Louis Min
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
FEDERAL RESERVE BRANCH CITIES
City
Buffalo _ .Cincinnati-.PittsburghBaltimoreCharlotte .BirminghamJacksonville ._Nashville.New OrleansDetroi t -Little EockLouisville-HelenaDenver-Oklahoma CityOmahaEl Paso ._ _>HoustonSan AntonioLos AngelesPortlandSalt Lake CitySeattleSpokane
Prime commercial loans
August,1929
6 -6K6
5M-6
6666
6668
6 -6346
6 -86
6 -766
6 — 63^6M-7
September,1929
6 -76
5M-65J4-6
66 -76 -6H
66 -7
6 ~6//£686
6 2
6 -86
6 -76666
6 -7
October,1929
6 -6146
5^-6534-6
66 -8
66
6 -7
6 -634686
6 -76
6 -866
8 —$/£6 -7
66^-7
Loans secured by prime stock-exchange collateral
August,1929
66 ^ 85^-6
66
6 -76 -7
66^-76 -%y26 -8
68
6 -77 -86 -76 -86 -76 -863^-76 -7
76 -7634-7
September,1929
66 -8
666
6 -76 -8
6634-76>^-76 -8
68
7 -8634-76 -8634-76 -8634-76 -%y>
7~6 -634634-7
October,1929
66 -8
66
6" -86 -76 -8
6634-7634-76 - 7
68
634-78
6 -76 -86 -76 -86 -76 -76 -76 —6346 -7
Loans secured by warehousereceipts
August,1929
66 -7
666
6 -76 -8534-66 -7
6 -86
7 -86 -86 -86 -7
8 '6 -76 -86 -76 -7
777
September,1929
66 -7
66
6 -76 -76 -8534-66 -76 -76 -8
67 -86 -86 -8634-77 -8
6 -76 -7
7634-7
7
October,1929
6634-7
66
6 -86 -86 -8534-66 -76^-76 -8
67 -86 -8
8634-77 -8
6 - 8 / 2
6 -76 -7
7634-7
7
Interbank loans
August,1929
6h%-75^-6
666
5^-6
666
6 -86666
534-666
6 -7666
September,1929
6
6
666
53^-66 -6H
6 —6^66- 8
66 —634
65H-6
66 -7
6666
October,1929
66 -7 '
6
6
6 -6346 -§y26
66 -8
66 ~6/^
6
66 -7
666
6 -6>£
8
o
Io
E3
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BEPOKT OF THE COMPTROLLER OF THE CURRENCY
BATES FOR MONEY IN NEW YOBK
85
The range of rates for various classes of paperin the New York moneymarket in the year ended October 31, 1929, together with informationin relation to the range of rates in New York since 1920, is shown inthe following statements furnished by the Financial and CommercialChronicle:
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Comparison of the range of rates for call loans, 60-day time loans, and choice commercial paper loans in NewYork annually for 1920 to 1929 is shown in the statement following:
Range of rates for money in New York annually, 1920 to 1929
Call loans __Time loans (60 days)____Commercial paper
(choice)
Call loansTime loans (60 days)Commercial paper
(choice) _
1920
Rangefor
January
6-207- 8
6
High
258%
8
Low
57
6
Rangefor De-cember
6 -77 -7H
1925
Rangeor
January
2 -5HZH-ZU
High
65
Low
2
ZH
Rangefor De-cember
1921
Rangefor
January
6 -86 -7H
7H-S
High
9
8
Low
5
Rangefor De-cember
4^-65 -5H
5 -5H
1926
Rangefor
January
4 -64^-5
4 -4H
High
6
m
Low
3ZH
ZH
Rangefor De-cember
4^-64^-4%
1922
Rangefor
January
3 -6
High
6
Low
2HZH
ZH
Rangefor De-cember
ZH-5H
4&4H
1927
Rangefor
January
4 -5
4 -4H
High
5
Low
ZH
Rangefor De-cember
4 -5H4 -4*4
3H-4
1923
Rangefor
January
4^-5
4^-4%
High
6bH
5H
Low
2
Rangefor De-cember
i51928
Rangefor
JanuaryHigh
127%
5H
Low
ZH4H
ZH
Rangefor De-cember
6 -127 - 8
5H-5H
1924
Rangefor
January
ZH-64^-5
4^-5
High
65
5
Low
22
3
Rangefor De-cember
2 -3^4
1929
Rangefor
January
6 -127^-8
High
20
Low
66H
5
Rangefor Oc-tober
5 -106H-9H
6 - 6 K
1
I
HCl
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
KEPORT OF THE COMPTROLLER OF THE CURRENCY 8 7
NEW YORK CLEARING HOUSE
The figures compiled and furnished by Mr. Clarence E. Bacon,manager, New York Clearing House Association, for the year endedSeptember 30, 1929, disclose there were 24 banks comprising theNew York Clearing House Association with capital of $617,125,300.
Clearings amounted to $456,937,947,313, an increase in the year of$88,020,290,766, and balances reported aggregating $50,462,034,307showed an increase in the year of $11,459,347,232. The averagedaily clearings amounted to $1,508,046,031 and the average dailybalances $166,541,367. The percentage of balances to clearings was11.04.
CLEARING-HOUSE ASSOCIATIONS IN THE 12 FEDERAL RESERVEBANK CITIES AND ELSEWHERE
Clearing-house transactions in the 12 Federal reserve bank citiesduring the year ended September 30, 1929, aggregated $597,688,785,-000, and exceeded by $92,141,261,000 the amount reported in theprevious year. The ratio of clearings by banks in the 12 Federalreserve bank cities was 83.74 per cent of the total clearings of allbanks in 244 reporting cities in the United States, in comparison witha ratio of 82.37 per cent reported for 235 cities last year.
Clearings of banks in 26 other principal cities, each of which hadclearings in excess of $1,000,000,000, amounted to $80,469,530,000,and showed an increase of $5,759,885,000 in clearings reported forthe same cities in the preceding year. The total clearings of the244 cities reporting to the New York Clearing House Association inthe current year aggregated $713,762,335,000, as compared with$614,219,137,000 reported by these cities in the preceding year.
Tables showing the following information are published in theappendix of this report: Comparative statement of transactions of theNew York Clearing House, annually since 1854; comparative state-ment of transactions of the New York Clearing House in years endedSeptember 30, 1929 and 1928; exchanges, balances, and percentagesof balances to exchanges, etc., by the New York Clearing House,annually since 1893; comparative statement of the exchanges of clear-ing houses of the United States by pities, for years ended September30, 1929 and 1928, and comparative statement of transactions ofclearing-house associations in the 12 Federal reserve bank cities andelsewhere, in years ended September 30, 1929 and 1928.
BANKS OTHER THAN NATIONAL
Through the cooperation and courtesy of officials of banking depart-ments of the various States, Alaska, and insular possessions, thecomptroller is enabled to present in this report, as required by section333, Eevised Statutes, statistics in relation to each class of reportingbanks other than national.
79003°—30 -7
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Officials of State banking departments and number of each class of banks under their supervision in June, 19291 from which reports of conditionwere received
0000
States, etc.
Maine _ _ . .New HampshireVermontMassachusettsRhode Island . _Connecticut
Total New England States
New York . . . . „ .New JerseyPennsylvaniaDelaware _Maryland...District of Columbia
John G. SmithArthur E. DoleRobert C. ClarkRoy A. Hovey _ .George H. Newhall..-Lester E Shippee
Joseph A. Broderick__Frank H. Smith.Peter G. CameronHarold W. Horsey....George W. Page
Joseph Button __II A. AbbotJohn MitchellAlbert. S. FantA. B. MobleyErnest AmosD. F. GreenJ. S. LoveJ. S. BrockJames ShawWalter E. Taylor0. S. DennyH. L. Grigsby _.
Titles
Bank commissioner. do
Commissioner of banking and insuranceCommissioner of banksState bank commissioner
do
Superintendent, banking department _Commissioner, department of banking and insurance..Secretary, department of bankingState bank commissioner. . . do _
Commissioner of insurance and banking ,Commissioner of banking .Chief State bank examinerState bank examinerSuperintendent of banksComptroller, State of FloridaSuperintendent of banks
doState bank commissionerCommissioner, department of bankingCommissioner, State banking departmentCommissioner, department of bankingSuperintendent of banks
State(com-
mercial)
3
3
23635
2716
113
661
317194355169340151244292193710346434391
4,136
Loanand trustcompa-
nies
481539
1011198
312
14419941726267
819
50
50
Stocksavings
1
22
23
1
7
8
Mutualsavings
335219
1969
75
384
1502792
14
202
Pri-vate
17
17
496
31
86
3
14
201
29
Total
816758
29723
190
716
57926872834
15329
1,791
320194355170344202244299193730347434391
4,223
s3o
o
3o
3
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Alaska. _The Territory of HawaiiPorto RicoPhilippines
Total possessions...
Total United States and posses-
E.H.BlairLuther F. Symons.. _Oscar NelsonR. E. ReichertC. F. Schwenker."-,~A. J. VeigelL. A. Andrew ,._S L. Cantley
Gilbert Semingson . .F R SmithGeorge W. WoodsH. W. KoenekeArthur J LochrieJohn A. ReedGrant McFerson.- _
C. G. Shull „
H C. JohnsonA. A. Schramm .Will C WoodE. W. PorterW. H. HadiockE. J. SeabornJ . B . Button „—
W. G. Smith
Superintendent of banks - „.„. .Bank commissioner - . . «Auditor of public accountsCommissioner, State banking department -~_~ -Commissioner of banking __, .Commissioner of banks „ „Superintendent, department of banking .Commissioner of finance _
State bank examiner.. . . ,_ ._ __ _ _Superintendent of banksSecretary, bureau of banking -Bank commissioner „_ . . »Superintendent of banksStata bank examiner.. _ - _.State bank commissioner . _.-„State bank examiner - .Bank commissioner _ . _ __
Supervisor of bankingSuperintendent of banks. .
doCommissioner, department of finance _ _ _-State bank commissioner , __.State bank examiner.. . . . . . - _ _ _ . .Superintendent of banks
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90 BEPORT OF THE COMPTROLLER OF THE CURRENCY
State (Commercial) Banks
The statements following show a summary of the resources andliabilities of State (commercial) banks on June 29, 1929, and a com-parison of these items with the amounts reported as of June 30, 1928:
Summary of reports of condition of 14,48? State (commercial) banks in the UnitedStates and possessions at the close of business June 29, 1929
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and
other liens on real estate—On farm land . 799, 745On other real estate 912,256
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks) 1, 839, 344
Loans to banks 4, 999Commercial paper bought in open market; accept-
ances payable in United States; and notes, bills,and acceptances payable in foreign countries 674, 052
United States Government securities _„._ 571, 806State, county, and municipal bonds 318, 325Railroad and other public service corporation bonds. 161, 642Stock of Federal reserve banks and other corpora-
tions 38, 792Foreign government bonds and other foreign se-
Total 3, 084, 672Banking house, furniture and fixtures „ 464, 469Real estate owned other than banking house _-_-_ 152, 629Cash in vault:
Gold coin 6, 409Gold certificates 5, 678All other cash in vault 133, 437Not classified 168, 473
Total 313,997Reserve with Federal reserve banks or other reserve agents 866, 173Other amounts due from banks 903, 315Exchanges for clearing house and other cash items 298, 859Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) 340, 462
Total resources - - - - - - - 16, 824, 315
LIABILITIES
Capital stock paid in - _ 1, 155, 878Surplus 804,400Undivided profits—net 237, 422Reserves for dividends, contingencies, etc 56, 054Reserves for interest, taxes, and other expenses accrued and unpaid _. 41, 554Due to banks (demand balances) 649, 980Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding 113, 219Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
KEPORT OF THE COMPTROLLER OF THE CURRENCY 91Demand deposits (other than bank and United States):
Individual deposits subject to check 5, 756, 067State, county, and municipal deposits 516, 534Certificates of deposit (other than for money bor-
Total . . . . 6, 298, 456United States deposits (exclusive of postal savings) 7, 310Deposits not classified . _ _ _ . . 2, 742Total deposits _ 13, 586, 970Bills payable and rediscounts „ 454, 842Agreements to repurchase United States Government or
other securities sold „__ 3, 148Acceptances executed for customers and to furnish dollar exchange-. 44, 279Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorse-ment), . . . . 439, 768
Total liabilities-. 16, 824, 315
Resources and liabilities of State (commercial) banks in the United States andpossessions June 29, 1929, compared with June 8G, 1928
[In thousands of dollars]
June 29,1929
Number of banks.,.RESOURCES
Loans and discounts (including rediscounts) ,Overdrafts „ ... . ....InvestmentsBanking house, furniture and fixtures _ __.._....Real estate owned other than banking houseCash in vault „ ._ __.Reserve with Federal reserve banks or other reserve
agents. - -Other amounts due from banksExchanges for clearing house and other cash itemsOther resources ______
Total resourcesLIABILITIES
Capital stock paid in..Surplus _ „Undivided profits—net „_„ -Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued
and unpaidDue to banks - ....Certified and cashiers' checks and cash letters of credit
and travelers' checks outstanding.Demand deposits -- - ,Time deposits (including postal savings)United States deposits -Deposits not classifiedTotal deposits..Bills payable and rediscountsAgreements to repurchase securities soldAcceptances executed for customers _Other liabilities
Total liabilities....
14,437
10,361,72338,016
3,084, 672464, 469152,629313, 997
866,173903,315
340, 46216, 824, 315
1,155,878804,400237, 42256,054
41, 55464.9,980
113, 2196, 515, 2636, 298,456
7,3102,742
13, 586, 970454, 8423,148
44, 279439, 768
16,824, 315
June 30,1928
15,078
9,450,33734, 535
3,542,177458,961145,434367, 270
802,255
215,437366, 019
16, 291,003
1,051,182737,475
285,926
513,947
109,9406,130, 7576, 228, 713
7,855365, 665
13,356, 877399, 365
460,178
Increase
911,3863,481
5,5087,195
63, 918
83,422
533,312
104,696
66,925
49,104
136,0333,279
384, 50669, 743
230,09355, 477
27,017
16, 291,003 533,312
641
457, 505
53,273
5,263
~25~557
545362,923
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9 2 BEFOET OF THE COMPTROLLER OF THE CURRENCY
Loan and trust companies
Tho statements following show a summary of the resources andliabilities of loan and trust companies on June 29, 1929, and a com-parison of these items with the amounts reported as of June 30, 1928:
Summary of reports of condition of 1,608 loan and trust companies in the UnitedStates and possessions at the close of business June 29, 1929
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and
other liens on real estate—On farm land „ 739,316On other real estate „ 659,935
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks) 4, 186, 117
Loans to banks 1., 632Commercial paper bought in open market; accept-
ances payable in United States; and notes, bills,and acceptances payable in foreign countries 1, 727, 677
All other loans ---.„ — 1, 997, 202
Total . .9, 311, 879Overdrafts . 7, 585Investments:
United States Government securities 364, 380State, county, and municipal bonds__„ 153, 746Railroad and other public service corporation
bonds 457,276Stock of Federal reserve banks and other corpora-
tions 109,484Foreign government bonds and other foreign securi-
t Total 3, 421, 673Banking house, furniture and fixtures 385, 112Real estate owned other than banking house._ - -_ 68, 221Cash in vault:
Gold coin..- 4, 043Gold certificates . 4, 258Ail other cash in vault 61, 746Not classified..-. . 86, 533
Total 156,580Reserve with Federal reserve banks or other reserve agents.» 923, 415Other amounts due from banks 553, 577Exchanges for clearing house and other cash items „ 594, 823Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) ~ 732, 310
Total resources _. 16, 155, 175
LIABILITIESCapital stock paid in 941, 333Surplus . 1, 454, 504Undivided profits—net 208, 632Reserves for dividends, contingencies, etc „.»» 9, 958Reserves for interest, taxes, and other expenses accrued and unpaid.. - 24, 394Duetto banks (demand balances) 792, 134Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding -_.._.. 350, 881Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BSPORT OD THE COMPTROLLER OF THE CURRENCY 93
Demand deposits (other than bank and United States):Individual deposits subject to check 6, 408, 059State, county, and municipal deposits.. 248? 301Certificates of deposit (other than for money bor-
rowed) 108, 066Other demand deposits . 193, 603
Total ___-_.„ „_„__._„„„ 6, 956, 032Time deposits (including postal savings):
State, county, and municipal deposits „_„ 39, 525Deposits of other banks 50, 031Other time deposits—
Deposits evidenced by savings pass books- _. 3, 264, 721Certificates of deposit (other than for money
borrowed) 292, 170Time deposits, open accounts; Christmas sav-
Total „„__„___ . . . . . . . _„ __„„_ 3, 989, 532United States deposits (exclusive of postal savings) „__„„ „ _ _ 44, 134Deposits not classified „__„ . 13, 985Total deposits - _ _ _ . . . . . . . 12, 146, 698Bills payable and rediscounts- 437, 992Agreements to repurchase United States Government or other securi-
ties sold _._ _„ . 2, 669Acceptances executed for customers and to furnish dollar exchange. . 12, 942Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement) _ 916, 053
Total liabilities . . „____ . 16, 155, 175
Resources and liabilities of loan and trust companies in the United States andpossessions June 29, 1929, compared with June SO, 1928
[In thousands of dollars]
June 29,1929
Number of banks „ - ! 1,608RESOUECES
Loans and discounts (including rediscounts) ._. . . . .— 9,311,879Overdrafts „ - 7,585Investments- ._ . . . . . _.—... - . -- 3,421,673Banking house, furniture and fixtures _.—_. --- 385,112Real estate owned other than banking house —_ -- 68,221Cash in vault —_. 156,580Reserve with Federal reserve banks or other reserve agents._ 923,415Other amounts due from banks. _ _ 553,577Exchanges for clearing house and other cash items 594,823Other resources. . 732,310
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
94 KEPORT OF THE COMPTROLLER OF THE CURRENCY
Principal items of resources and liabilities of loan and trust companies in June ofeach year, 1914 to 1929
The principal items of resources and liabilities of loan and trustcompanies for years ended June 30, 1914 to 1929, inclusive, are shownin the statement following:
The statements following show a summary of the resources andliabilities of stock savings banks on June 29, 1929, and a comparisonof these items with the amounts reported as of June 30, 1928:
Summary of reports of condition of 747^ stock savings banks in the United States atthe close of business June 29, 1929
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and other
liens on real estate—On farm land . 2, 938On other real estate 582, 623
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks) 16, 516
Loans to banks 179Commercial paper bought in open market; accept-
ances payable in United States; and notes, bills,and acceptances payable in foreign countries 2, 286
All other loans... 421, 783
Total 1, 006, 325Overdrafts 230Investments:
United States Government securities 101, 396State, county, and municipal bonds 5, 399Railroad and other public service corporation bonds. 12, 384Stock of Federal reserve banks and other corpora-
tions 1,859Foreign government bonds and other foreign se-
Total ____„ „ 17,345Reserve with Federal reserve banks or other reserve agents 16, 888Other amounts due from banks _ _ _. „ 93, 960Exchanges for clearing house and other cash items , _ 6, 060Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) 2, 003
Total resources . . . _ . . 1, 589, 845
LIABILITIES
Capital stock paid in . „-_____ 62, 487Surplus . . 40, 513Undivided profits—net 13, 624Reserves for dividends, contingencies, etc_, „ „ 1, 062Reserves for interest, taxes, and other expenses accrued and unpaid- 1, 570Due to banks (demand balances)„„„ 8, 107Certified and cashiers* checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding 372Demand deposits (other than bank and United States):
Individual deposits subject to check . 128, 738State, county, and municipal deposits 87, 520Certificates of deposit (other than for money bor-
Total . 1, 230, 228United States deposits (exclusive of postal savings) 5, 381Deposits not classified . 165Total deposits . . . 1, 464, 023Bills payable and rediscounts . 5, 336Acceptances executed for customers and to furnish dollar exchange. _ . 54Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement). 1, 176
Total liabilities „ 1 589 845
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
96 REPORT OF THE COMPTROLLER OF THE CURRENCY
Resources and liabilities of stock savings hanks in the United States June 29, 1929,compared with June SO, 1928
[In thousands of dollars]
Number of banks.
June 29, I June 30, Tri1929 1923
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _Investments _ _Banking house, furniture and fixturesReal estate owned other than banking houseCash in vaultReserve with Federal reserve banks or other reserve agents..Other amounts due from banks _.Exchanges for clearing house and other cash items..Other resources
LIABILITIESCapital stock paid in... _._.S u r p l u s . . . .Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidDuo to banks __„ _.Certified and cashiers' checks and cash letters of credit and
travelers' checks outstandingDemand deposits _ _Time deposits (including postal savings).United States deposits > „___.Deposits not classified.. „___Total deposits __. __.Bills payable and rediscounts.-Agreements to repurchase securities soldAcceptances executed for customerOther liabilities „.._„
62,48740, 51313, 6241,062
1, 5708,107
372219, 770
1, 230, 2285,381
1651,464, 023
5, 336
54 I1,176 I
68,87842, 472
17, 099
10,995
461215, 206
1, 345,996343
161,573,017
3,141
2,590
Total liabilities 1,589,845 1,707,197
-I 117,3-52
6,3911,959
843
2,888
4,584
'I'oss'149
2,195
115,768
~108~9§4
1,352
117, 360
Mutual savings banks
The statements following show a summary of the resources and
liabilities of mutual savings banks on June 29, 1929, and a comparison
of these items with the amounts reported as of June 30, 1928:
Summary of reports of condition of 811 m,utual savings banks in the United Statesat the close of business June 29, 1929
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and
other liens on real estate—On farm land . 4, 631, 396On other real estate 683, 623
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks) 48, 143
Loans to banks 25Commercial paper bought in open market; accept-
ances payable in United States; and notes, bills,and acceptances payable in foreign countries 10, 770
All other loans 427, 532
Total. __„ „ 5, 801, 489Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CUBBENCY 97
Investments:United States Government securities - . 177, 759State, county, and municipal bonds „ 509, 382Railroad and other public service corporation bonds- 1, 175, 490Stock of Federal reserve banks and other corpora-
tions _ 77,501Foreign government bonds and other foreign secu-
rities ._ 64,518Other bonds, notes, warrants, e t c . . 1, 771, 120
Total . . . 3, 775, 770Banking house, furniture and fixtures . . . . _ ._ 110, 269Real estate owned other than banking house . . . . 23, 059Cash in vault:
Total _ „ . . . . 31,495Reserve with Federal reserve banks or other reserve agents . . . . 35, 986Other amounts due from banks 150, 137Exchanges for clearing house and other cash items__„ 5, 946Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) . . . 72, 301
Total resources.--. - 10,006,452- ' • ' —
LIABILITIES
Surplus . — . . . . — - - - 823,693Undivided profits—net . . . . 147, 725Reserves for dividends, contingencies, etc . . _ . 13, 527Reserves for interest, taxes, and other expenses accrued and unpaid. 1, 229Due to banks (demand balances) . . . 182Certified and cashiers' checks (including dividend checks) and cash
letters of credit and travelers* checks outstanding „__-___ 46Demand deposits (other than bank and United States):
Individual deposits subj ect to check . . 18, 085State, county, and municipal deposits_„ . . . . 250Certificates of deposit (other than for money bor-
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
98 REPORT OF THE COMPTROLLER OF THE CURRENCY
Resources and liabilities of mutual savings banks in the United States June 29,1929,compared with June 80f 1928
[In thousands of dollars]
June 29,1929
June 30,1928 Increase Decrease
Number of banks_
RESOURCES
Loans and discounts (including rediscounts)InvestmentsBanking house, furniture and fixturesEeal estate owned other than banking houseCash in vaultReserve with Federal reserve banks or other reserve agents.Other amounts due from banksExchanges for clearing house and other cash itemsOther resources „ . -_- . . . .
611
5,801,4893S 775,770
110, 26923,05931,49535,986
150,1375,946
72,301
616
5, 511,9183,750,591
100, 71614,60031,162
289,57125,1799,553
333
210,6981,726
68,7484,2205,553
Total resources.. 10,006,452 9,688,159 318, 293
LIABILITIES
SurplusUndivided profits—net .Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued
and unpaid.- _Due to banks _ „Certified and cashiers' cheeks and cash letters of credit and
travelers' checks outstandingDemand deposits.„..» _Time deposits -Deposits not classified._.
•-Total depositsBills payable and rediscountsAgreements to repurchase securities soldAcceptances executed for customers.Other liabilities
823,693147,72513, 527
1,229182
4698,473
8,903,1261,519
9, 003, 3461,366
15, 566
851, 590
148, 586
204
1746,962
8, 665,80358
8,673,201540
14,242
13,895
91, 511237,323
1,461330,145
1,324
Total liabilities 10,006,452 9,688,159 318, 293
60, 561
27,897
22
128
Depositors and deposits in mutual and stock savings hanks
Statements showing information relative to the number of mutualand stock savings banks in each State, the number of depositors,the amount of individual deposits, the average amount due eachdepositor, and the average rates of interest paid by banks in eachState, June 30, 1928 and 1929, with similar information for eachyear 1914 to 1929, follow:
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Number of mutual savings banks, number of depositors, individual deposits and average deposit account^ by States, June SO', 1928 and 1929
New York _ ._New JerseyPennsylvania -Delaware. _Maryland - - -
Total Eastern States
Ohio - - -Indiana _-WisconsinMinnesota..- - -
Total Middle Western States
WashingtonCalifornia _ —
Total Pacific States ._
Total United states
1928
Numberof banks
855319
1961175
389
14927
»102
14
202
3565
19
i6
616
Depositors
229,367i 364,663i 140, 742
2,931,837234,441887,667
4,788,717
4, 938, 635473, 796653, 02147,480
351,406
6,464,338
» 123,0541 39,4S6
19, 553140,023
322,116
84. 92372; 049
156,972
11,732,143
Deposits
$113,602,0002 208,044,000
97,336, 0001,955,956,000
166,866,000608,986, 000
3,150,850,000
43 301,347, 0C0255,028, 000429,629,000
24,399,000187, 575,000
5,197,978,000
97,290,00024,181,000
7, 692,00069,594,000
198,757,000
50,416,00074,822,000
125, 238,000
8, 672, 823,000
Averagedue eachdepositor
$495.55570. 51691. 59667.14711.76686.05
657,97
870.96538. 27657.91513. 88533.78
804.10
790.63612. 39393. 39497.02
617.04
593. 671,038.49
797.34
739.24
Averagerate of in-terest paid
Per cent4.003.794.504.714.364.60
4.173.162.384.004.00
4. CO4.503.304.00
5.004.00
1929
Numberof banks
335219
1969
75
384
1502739
214
202
3585
19
51
6
611
Depositors
225, 782334,930127,961
2,973,468196, 380904,981
4, 763, 508
5,116,151460, 525542, 02947. 691
325,148
6,491, 544
128,4861 39, 563
20,968141,063
330,090
93,07469, 869
162,943
11, 748, 085
Deposits
$113,402,0002 215, 759,000
98,813,0002,042, 506,000
169, 300,000627,058,000
3, 266,838,000
4,463,046,000267,167,000447? 124,000
24, 641,000194,199,000,,
5,396,177,000
104,4C6,00024,505,0008, 550,000
71, 797,000
209,318,000
53, 739,00075, 527,000
129, 266,000
9,001, 599,000
Average1 due each
depositor
$502. 26644.19772.21686.91862.08692.90
685.80
872.34580.14824.91516.68597.26
831.26
812.99619. 39407. 76508.97
634.12
577. 381,080.98
793.32
766.22
Averagerate of In-terest paid
Per cent4.004.084.174.744.344.75
4.003.973.964.504.00
4.004.003.003.75
4.754.25
• • — •
1 Estimated. 2 Includes savings of 11 trust companies and 11 guaranty savings banks. ^ Includes returns of 1 stock savings bank.
S1-3
ol j
Og
o
p
CD
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Number of stock savings banks, number of depositors, individual deposits and average deposit account, by States, June SO, 1928 and 1929
States
New Jersey ... «. . . __ -District of Columbia _
Total Eastern States , .
FloridaMississippi .
Total Southern States.
MichiganIowa
Total Middle Western States
Nebraska „
OregonCalifornia . -UtahNevada
Total Pacific States
Total United States
1928
Numberof banks
122
23
38
11
704
708
13
23031
36
791
Depositors
40,965120,142
161,107
6.4771 21, 549
28,026
23,1021 1, 292,953
1,316,055
14, 533
115, 3471, 570, 724
62, 7283,895
1,752,694
3, 272,415
Deposits
$26, 607,00038,037,000
Averagedue eachdepositor
$649. 51316.60
64, 644, 000
1, 676, 0005, 576, 000
7,252,000
18,710, 000365,673,000
384,383,000
4,193, 000
> 28,708,00031,044,337,000
23,270,0004,431,000
1,100,746,000
1, 561, 218,000
401.25
258.76258. 76
258. 76
809.89282.82
292.07
288. 52
248.88664.88370.97
1,137.61
628.03
477. 08
Averagerate of in-terest paid
Per cent3.003.50
1929
Numberof banks
122
23
4.00
3. 504.00
4.00
3.264.004.004.00
17
8
3676
679
13
11931
- -! *747
Depositors
40,349130,069
170,418
3,930i 5, 730
9,660
19,179428,229
447,408
12,298
6211, 587,274
63, 56214,288
3,655,745
2,295, 529
Deposits
$25,546,00040,519,000
66,065,000
1,210,0003, 708,000
4,918,000
18,605,000383,274,000
381,879,000
4,012,000
493,000'963,444,000
24, 273,0004,914,000
993,124,000
1,449,998,000
Averagedue eachdepositor
$633.13311.52
387.66
307.89647.12
509.11
970.07848.32
853. 54
326.23
793.88606.98381.88
1,145.99
599.81
631.66
Averagerate of in-terest paid
Per cent4.003.50
4.004.00
3.503.50
4.00
3.004.004.004.00
3
o
O
o
i Estimated. * Includes savings of 104 commercial banks. 3 Includes savings of departmental banks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOKT OF THE COMPTROLLER OF THE CTJKKENCY 101
Number of savings banks (mutual and stock) in the United States, number of de-positors, amount of individual deposits, and average amount due each depositorin years ended June 80, 1914, to 1929, inclusive
[For prior years, see annual report for 1920, vol. 1, pp. 236-242]
The statements following show a summary of the resources andliabilities of private banks on June 29, 1929, and a comparison ofthese items with the amounts reported as of June SO, 1928:
Summary of reports of condition of 891 private banks in the United States at theclose of business June 29, 1929
[In thousands of dollars]
KESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and other liens
on real estate—On farm land „-„.«_„_-_„__..__„ 7, 641On other real estate „ , . . - - . 7, 755
Loans secured by United States Government and otherbonds, stocks, and securities (exclusive of loans to banks) - 6, 751
Loans to banks _ _ _ _ „____., „„_„ 279Commercial paper bought in open market; acceptances pay-
able in United States; and notes, bills, and acceptancespayable in foreign countries „„ 1, 599
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
102 REPORT OF THE COMPTROLLER OF THE CURRENCY
Investments:United States Government securities 3, 678State, county, and municipal bonds 2, 053Railroad and other public service corporation bonds 1, 025Stock of Federal reserve banks and other corporations 3, 746Foreign government bonds and other foreign securities 454Other bonds, notes, warrants, etc_„ - 16, 870
Total 27,826Banking house, furniture and fixtures - 3, 418Real estate owned other than banking house „ 6, 798Cash in vault:
Gold coin . . .» 40Gold certificates „ 49All other cash in vault 1, 153Not classified „ „_„„_ 1, 266
Total 2,508Reserve with Federal reserve banks or other reserve agents 4, 787Other amounts due from banks 12, 349Exchanges for clearing house and other cash items 1, 078Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) 3, 170
Total resources ^ 156, 490
LIABILITIES
Capital stock paid in . 9, 905Surplus „ „ 9,536Undivided profits—net „ 2, 479Reserves for dividends, contingencies, etc . »._ 50Reserves for interest, taxes, and other expenses accrued and unpaid.-_ 61Due to banks (demand balances) 2, 862Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding 362Demand deposits (other than bank and United States):
Individual deposits subject to check 47, 721State, county, and municipal deposits 3, 691 •Certificates of deposit (other than for money borrowed) 2, 747Other demand deposits 2, 199
Total „ —— 56,358Time deposits (including postal savings):
State, county, and municipal deposits „ 126Deposits of other banks 10Other time deposits—
Deposits evidenced by savings pass books 27, 394Certificates of deposit (other than for money borrowed) _ 19, 324Time deposits, open accounts; Christmas savings
accounts, etc 2, 296Postal savings deposits 30
Total 49,180United States deposits (exclusive of postal savings) 1, 044Deposits not classified 1, 710Total deposits _* ___. 111, 516Bills payable and rediscounts 16, 660Agreements to repurchase United States Government or other securities
sold .._ 46Acceptances executed for customers and to furnish dollar exchange 19Other liabilities (including securities borrowed and acceptances of other
banks and bills of exchange or drafts sold with indorsement) _ 6, 218
Total liabilities _«_ 156, 490
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
KEPOET OF THE COMPTKOLLER OF THE CTJKEENCY 103
Resources and liabilities of private banks in the United States June 29, 1929, com-pared with June SO, 1928
[In thousands of dollars]
Number cf banks_
RESOURCES
Loans and discounts (including rediscounts) „OverdraftsInvestments „ -Banking house, furniture and fixturesReal estate owned other than banking house -Cash in vault „.__ ——— -Reserve with Federal reserve banks or other reserve agentsOther amounts due from banks _____ _.Exchanges for clearing house and other cash itenas,.__-._Other resources,., - - -
Total resources..
LIABILITIES
Capital stock paid in __ ......Surplus _ _Undivided profits—net _ »Reserves for dividends, contingencies, etc _ _Reserves for interest, taxes, and other expenses accrued and
unpaid „ «Due to banks „.._« -Certified and cashiers' checks and cash, letters of credit and
travelers' check outstanding._.__.„_... -„..«. _Demand deposits. _ -„_ . . . .__,„_.„Time deposits (including postal savings) _...__-United Statesdeposits___._—————.____ -Deposits not classified.—_~ . - __--Total deposits ______>.— _.Bills payable and rediscounts.Agreements to repurchase securities sold _.Accep lances executed for customers _ _Other liabilities „ __»-_
June 29,1929
391
93, 723833
27,8263,4180, 7682,5084,78712,3491,0783,170
156, 490
Total liabilities. —... 156,490 148,834
9,9059,5362,479
50
612,862
36256,35849,1801,0441,710
111,51616,660
4619
6,218
June 30, T _10Oo ' Increase1928
404
86,507389
28,9593,3476,8622, 8172, 588
13, 287867
3, 211
148, 834
8. 2788,329
1, 775
1,422
15346,07443,090
21, 422112,161
II, 989
6,302
7,216444
71
2,199
7,656
1, 6271,207
8.15
1,440
20910, 2846,090I, 044
4,671
7,656
Decrease
1,133
64309
"938
19, 712645
19
All reporting hanks other than national
The statements following show a summary of the resources andliabilities of all reporting banks, other than national, on June 29,1929, and a comparison of these items with the amounts reportedas of Juno 30, 1928:
Summary of reports of condition of 17,794 State {commercial), savings, private banks,and loan and trust companies in the United States and possessions at the close ofbusiness June 29, 1929
[In thousands of dollars]RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and
other liens on real estate-—On farm land . . . — .._.-.— 6, 181, 036On other real estate-__._._--- _-__ _- 2, 826, 192
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks) - . 6,096, 871
Loans to banks.- 7, 114Commercial paper bought in open market; accept-
ances payable in United States; and notes, bills,and acceptances payable in foreign countries 2, 416, 384
All other loans _-- 9, 047, 542
Total ... — . 26, 575, 139Overdrafts . „ 46,664
79003°—30 8Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
104 REPOET OF THE COMPTROLLER OF THE CURRENCY
Investments:United States Government securities 1, 219, 019State, county, and municipal bonds 988, 905Railroad and other public service corporation
bonds 1, 807, 817Stock of Federal reserve banks and other corpora-
tions -_- 231,382Foreign government bonds and other foreign
Total 521,925Reserve with Federal reserve banks or other reserve agents 1, 847, 249Other amounts due from banks _ 1, 713, 338Exchanges for clearing house and other cash items 906, 766Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) 1, 150, 246
Total resources..-- 44, 732, 277
LIABILITIESCapital stock paid in _ „ . . 2, 169, 603Surplus „ - 3, 132, 646Undivided profits—net --_ 609, 882Reserves for dividends, contingencies, etc 80, 651Reserves for interest, taxes, and other expenses accrued and unpaid- _ 68, 808Due to banks (demand balances) 1, 453, 265Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding . _ - 464, 880Demand deposits (other than bank and United States):
Individual deposits subject to check . 12, 356, 670State, county, and municipal deposits 856, 296Certificates of deposit (other than for monev
Total „ . „ 20, 470, 522United States deposits (exclusive of postal savings)-.- - 57, 869Deposits not classified 20, 121Total deposits 36, 312, 553Bills payable and rediscounts 916, 196Agreements to repurchase United States Government or other secur-
ities sold_____-_- __- 5, 863Acceptances executed for customers and to furnish dollar exchange. _ 57, 294Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement) - 1, 378, 781Total liabilities 44, 732, 277
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OD THE COMPTROLLER OF THE CURRENCY 105Resources and liabilities of State {commercial), savings, private banks, and loan and
trust companies in the United States and possessions June 29, 1929, comparedwith June SO, 1928
[In thousands of dollars]
June 29,1929 June 30,1928 Increase Decrease
Number of banks..
RESOURCES
Loans and discounts (including rediscounts)Overdrafts - -Investments __.__ .Banking house, furniture and fixturesHeal estate owned other than banking houseGash in vaultEeserve with Federal reserve banks or other reserve
agents .Other amounts due from banks .Exchanges for clearing house and other cash items.....Other resources
Total resources.,
Capital stock paid inSurplus - ...._-.Undivided profits—netReserves for dividends, contingencies, etcEeserves for interest, taxes, and other expenses accrued
and unpaid .Due to banks.- _Certified and cashiers' checks and cash letters of credit
and travelers' checks outstandingDemand deposits _Time deposits (including postal savings)United States deposits „Deposits not classifiedTotal deposits.Bills payable and rediscounts.--Agreements to repurchase securities sold-.. _Acceptances executed for customers _.Other liabilities. -
Total liabilities.
17,794
26,575,13946,664
10,692,2031,006, 770
271,977521, 925
1,847,2491, 713, 338
906, 7661,150,246
44, 732,277
2,169,6033,132,646
609,88280,651
1,453,265
464,88013,845,89620,470, 522
57,86920,121
36,312,553916,196
5,86357,294
1,378, 781
18,522
24,897,07240,269
11,624,366942,467278,287572,732
1,652,4571,730,441
789,7661,038, 232
2,178,0676,395
64,303
194,792
117,000112,014
43,066,089 1,666,188
1,931,6662,725,834
G68,924
1,343,011
449,61413,302,85620,241,471
36,900399,938
35,773,790764,961
1,200,914
237,937406,812
90,417
110,254
15,266543,040229,051
20,9G9
538, 763151,235
241,024
:, 732. 277 43,086,089 1, 666,188
932,163
6,31050,807
17,103
379,817
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
106 BE PORT OF THE COMPTROLLER OF THE CURRENCY
The resources and liabilities of each class of reporting banks, otherthan national, June 29, 1929, are shown in the following table:Resources and liabilities of 17,794 State {commercial) banks, loan and trust com-
panies, savings banks, and private banks, June 29, 1929
pn thousands of dollars]
14,437State
(commer-cial) banks
1,008loan and
trustcompanies
747 stocksavingsbanks
611mutualsavingsbanks
391privatebanks
Total,17,794banks
RESOUBCES
Loans and discounts (includingrediscounts)
OverdraftsInvestmentsBanking house, furniture, and fix-
turesReal estate owned other than bank-
ing houseCash in vaultReserve with Federal reserve banks
or other reserve agentsDue from banksExchange for clearing house and
other cash itemsOther resources
Total resourcesLIABILITIES
Capital stock paid inSurplusUndivided profits—net-Reserves for dividends, contingen-
cies, etcReserves for interest, taxes, and
other expenses accrued and un-paid
Due to banks.-Certified and cashiers' checks and
cash letters of credit and travel-ers' checks outstanding-
Demand deposits-Time deposits (including postal
savings)United States deposits „Deposits not classifiedTotal depositsBills payable and rediscountsAgreements to repurchase securi-
ties sold _.Acceptances executed for customers.Other liabilities
Principal items of resources and liabilities of all reporting hanks otherthan national on or about June 807 1925-1929
The principal items of resources and liabilities of reporting banks,other than national, for years ended on or about June 30, 1925, to1929, are shown in the statement following:Principal items of resources and liabilities of State {commercial), savings, private
banks, and loan and trust companies[In thousands of dollars]
Items
Loans l „InvestmentsCashCapitalSurplus and undivided profitsDeposits (individual)Resources
1925
21, 073,9909, 669, 669
591, 6811,800,2762, 580,134
30,411, 03037, 706,174
1926
22, 623,1079, 972,888
636, 5691,860,4312, 858, 653
31, 789, 88439, 577, 738
1927
23,348,34410,861, 875
643,6921, 902, 3253,130, 367
32, 893, 20141, 550, 615
1928
24,437, 34111, 624,366
572,7321,931, 6663, 394,758
33,944, 26543, 066, 089
1929
26, 621,80310, 692, 203
521,9252,169,6033, 742, 528
34, 316,41844, 732,277
1 Including overdrafts.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 107
NATIONAL BANKS
The statements following show a summary of the resources andliabilities of reporting national banks on June 29, 1929, and a com-parison of these items with amounts reported as of June 30, 1928:
Summary of reports of condition of 7,586 national banks in the United States andpossessions at the close of business June 29, 1929
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and
other liens on real estate—On farm land ._._„ 308, 785On other real estate 1, 104, 220
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks). -.._..„ 5, 113, 792
Loans to banks.__ 365, 009Commercial paper bought in open market; accept-
tances payable in United States; and notes, bills,and acceptances payable in foreign countries 328, 011
All other loans „ „ 7, 583, 313Total „ „„ __„_„ r r m r r m u, soi, 130
Total . __. „_-._ 6, 656, 535Banking house, furniture and fixtures 747, 684Real estate owned other than banking house 118, 839Cash in vault:
Gold coin . 15, 237Gold certificates 35, 669Ail other cash in vault . . 247, 097Not classified „__. None.
Total ZZ7Z 298,003Reserve with Federal reserve banks or other reserve agents 1, 344, 951Other amounts due from banks ~ . . 1, 854, 187Exchanges for clearing house and other cash items „ 785, 006Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, andcustomers' liability on account of acceptances) ._„ 823, 700
Total resources 27, 440, 228LIABILITIES
Capital stock paid in..» 1, 627, 375Surplus. „ 1, 479, 052Undivided profits—net ._ 487, 504Reserves for dividends, contingencies, etc 80, 832Reserves for interest, taxes, and other expenses accrued and unpaid. 73j 968National-bank circulation 649, 452Due to banks (demand balances) 2, 175, 932Certified and cashiers7 checks (including dividend checks) and cash
letters of credit and travelers' checks outstanding „ 372, 550
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
108 BEFOBT OF THE COMPTROLLER OF THE CURRENCY
Demand deposits (other than bank and United States):Individual deposits subject to check 9, 071, 077State, county, and municipal deposits 1, 104, 247Certificates of deposit (other than for money bor-
rowed) 149, 107Other demand deposits - 179,837
Total —— 10, 504, 268Time deposits (including postal savings):
State, county, and municipal deposits 344, 493Deposits of other banks 81, 446Other time deposits—
Deposits evidenced by savings pass books 6, 089, 637Certificates of deposit (other than for money
borrowed) 1, 290, 947Time deposits, open accounts; Christmas sav-
Total - 8, 317, 095United States deposits (exclusive of postal savings) 228, 243Total deposits 21, 598, 088Bills payable and rediscounts 714* 507Agreements to repurchase United States Government or other secu-
rities sold 49, 660Acceptances executed for customers and to furnish dollar exchange- 392, 623Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement) _ 287, 167
Total liabilities . - - - 27,440,228
Resources and liabilities of national banks in the United States and possessionsJune 29, 1929, compared with June 30, 1928
[In thousands of dollars]
June 29, 1929 June 30, 1928 Increase Decrease
Number of banks _
RESOURCES
Loans and discounts (including rediscounts) _Overdrafts -InvestmentsBanking house, furniture and fixtures __Real estate owned other than banking houseCash in vault _Reserve with Federal reserve banks or other reserve agents.Other amounts due from banksExchanges for clearing house and other cash itemsOther resources
Total resources
LIABILITIES
Capital stock paid inSurplus >.Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses aocrued
and unpaidNational-bank circulationDue to banksCertified and cashiers' checks and cash letters of credit
and travelers' checks outstandingDemand depositsTime deposits (including postal savings)United States depositsTotal depositsBills payable and rediscountsAgreements to repurchase securities soldAcceptances executed for customersOther liabilities
Total liabilities
7,536
14,801,13010,193
6, 656, 535747, 684118,839298, 003
1, 344,9511,854,187
785, 006823,700
7,691
15,144,99510,138
7,147,448721, 229125, 680315,113
1, 453, 3831,885,967
963, 332740,954
55
155
343,865
26,455490,913
82,746
6,84117,110
108,43231, 780
178,326
27,440, 228
1,627,3751,479,052
487,50480,832
73,968649,452
2,175,932
372,55010, 504, 2688,317, 095
228, 24321, 598, 088
714, 50749, 660
392,623287,167
28,508,239 1, 068,011
1, 593,8561,419,695
557,437
83, 753649,095
2,738,017
414,97111, 003,7958,296,638
185,01622, 639,337
801,185
763,881
33, 51959,35710,899
3579,785
20,45742,327
582,085
42,421499,527
1,041, 24986, 678
34,431
27,440, 228 28,508,239 1,068,011
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 109
ALL REPORTING BANKS IN THE UNITED STATES AND POSSESSIONS
The statements following show a summary of the resources andliabilities of all reporting banks in the United States and possessionson June 29, 1929, and a comparison of these items with the amountsreported as of June 30, 1928:
Summary of reports of condition of 25,880 reporting hanks in the United Statesand possessions at the close of business June 29, 1929
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):Real estate loans, mortgages, deeds of trust, and
other liens on real estate—On farm iand.___-_ 6, 489, 821On other real estate- 3, 930, 412
Loans secured by United States Government andother bonds, stocks, and securities (exclusive ofloans to banks) „___ 11, 210f 663
Loans to banks. „ - 372, 123Commercial paper bought in open market; accept-
ances payable in United States; and notes, bills,and acceptances payable in foreign countries „ 2, 742, 395
All other loans . 16, 630, 855
Total _„ 41, 376, 269Overdrafts.. _ „_„ . 56,857Investments:
United States Government securities 4, 022, 879State, county, and municipal bonds._„ 1, 746, 112Railroad and other public service corporation
bonds.. „_„_____„ 3, 094, 432Stock of Federal reserve banks and other corpo-
rations.... ._ 424,853Foreign government bonds and other foreign
Total . . . __.__..____„__ 17, 348, 738Banking house, furniture and fixtures _.~ 1, 754, 454Real estate owned other than banking house 390,816Cash in vault:
Total - .._- .._ -..-- 819, 928Reserve with Federal reserve banks or other reserve agents 3, 192, 200Other amounts due from banks 3, 567, 525Exchanges for clearing house and other cash items 1, 691, 772Other resources (including securities borrowed, acceptances of
other banks and bills of exchange or drafts sold with indorse-ment, and customers' liability on account of acceptances) 1, 973, 946
Total 28, 787, 617United States deposits (exclusive of Postal Savings) „ 286, 112Deposits not classified 20, 121Total deposits- . 57, 910, 641Bills payable and rediscounts . 1, 630, 703Agreements to repurchase United States Government or other
securities sold 55, 523Acceptances executed for customers and to furnish dollar exchange 449, 917Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement) _ 1, 665, 948
Total liabilities . 72, 172, 505
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REPORT OF THE COMPTROLLER OF THE CURRENCY 111Resources and liabilities of all reporting banks in the United States and possessions
June 29> 1929', compared with June SO, 1928
[In thousands of dollars]
Number of banks- -
RESOUKCES
Loans and discounts (including rediscounts)Overdrafts- - »-InvestmentsBanking house, furniture and fixtures -...Real estate owned other than banking house.- -.Cash in vaultReserve with Federal reserve banks or other reserve agents.Other amounts due from banks-Exchanges for clearing house and other cash items ->.Other resources - -
Total resources ——
LIABILITIES
Capital stock paid in__..._ —————.Surplus „ „.„._..-__—Undivided profits-—net •Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued
and unpaid- -National oank circulationDue to banks ._.Certified and cashiers' checks and cash letters of credit
and travelers' checks outstandingDemand deposits-_ -Time deposits (including postal savings) —United States deposits -Deposits not classified - - —Total deposits -Bills payable and rediscounts- __-_—Agreements to repurchase securities sold _ „ -Acceptances executed for customers. _._.Other liabilities —— -
Total liabilities ~_ —
June 29,1929 June 30,1928
25,330
41,376,26956,847
17,348,7381,754,454390,816
v 819,928v-3,192,200v-3, 567, 525> 1, 691, 7721,973,946
72,172, 505
3, 796,9784,611,6981,097, 386161,483
142,776649,452
3,629,197
837,43024,350,16428,787, 617
286,11220,121
57, 910, 6411,630, 703
55, 523449, 917
1,685, 948
72,172, 505
26,213
39, 542,06750,407
18,771,8141,663,698403,967887,845
3,105,8403,616,4081,753,0981,779,186
71, 574, 328
Increase
1,834,2026,450
90,758
86,360
1,423,076
13,15167,917
48,88361,320
194,760
598,177
3, 525, 5224,145, 529
1, 310,114
649.0954,081,028
864, 58524,306,65128,538,109
222,816399,938
58,413,1271, 566,146
1,964, 795
71,574, 328
271,456466,169
91,531
357
43,513249, 50863,295
64, 557
206, 593
>8,177
Decrease
883
451,831
27,155
379,817502,486
The table following shows the population of each State, number ofreporting banks, resources and liabilities, a classification of loans anddiscounts, investments, cash and demand and time deposits, June29, 1929, with a recapitulation by classes of banks:
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Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June, 1929 {includes national^ State {commercial)banks, loan and trust companies, savings and private banks)
States and Territories, etc.Population(approxi-
mate)
Num-ber ofbanks
Loans anddiscounts(including
rediscounts)
Resources (in thousands of dollars)
Over-drafts
Invest-ments
Bankinghouse,
furnitureand
fixtures
Realestateownedotherthan
bankinghouse
Cash invault
Lawful re-serve withFederal re-serve banks
or otherreserveagents
Otheramountsdue from
banks
Exchangesfor clear-ing houseand other
cashitems
Other re-sources
Total re-sources
Maine . . .New HampshireVermontMassachusetts _.Rhode Island..Connecticut
Total New England States
New YorkNew JerseyPennsylvania _.Delaware _MarylandDistrict of Columbia
Total New England StatesNew YorkNew JerseyPennsylvaniaDelawareMarylandDistrict of Columbia
Total Eastern States__Virginia __.West Virginia _North CarolinaSouth CarolinaGeorgiaFloridaAlabama..Mississippi _LouisianaTexas..ArkansasKentuckyTennessee
1 Includes $9,047,542,000 reported for banks other than national, a part of which should probably be classified elsewhere in the schedule.2 Includes all real estate loans, $1,187,414,000, in mutual savings banks, heretofore reported with loans on other real estate.»Includes bonds and mortgages, $3,216,225,000, in mutual savings banks, heretofore reported with loans not classified.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Assets and liabilities of all reporting hanks in the United States, Alaska, and insular possessions} June, 1929—Continued
i All cash in national banks included in first three columns.
15,00413,380
30
117,952
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1 2 0 REPORT OF THE COMPTROLLER OF THE CURRENCY
Individual deposits in all reporting hanks
A classification of the individual deposits in each class of reportingbanks follows:
Individual deposits in each class of banks June 29, 1929
[In thousands of dollars]
State (commercial)Loan and trust companiesStock savings banksMutual savings banks __., .Private banks
Total -National banks -
Grand total
S tate (commercial)Loan and trust companies-Stock savings banksMutual savings banksPrivate banks
TotalNational banks
Grand total
Num-ber ofbanks
14,4371,608
747611391
17, 7947,536
25, 330
Demand deposits
Individualdeposits
subject tocheck
5, 756, 0676, 406, 059
128, 73818,08547, 721
12,356, 6709,071,077
21,427, 747
State,county,and mu-nicipaldeposits
516, 534248,30187, 520
2503, 691
856, 2961,104, 247
1,960, 543
Certifi-cates ofdeposit
149, 237108,066
3,38650
2,747
263,486149,107
412, 593
Otherdemanddeposits
93,425193, 606
12680,088
2,199
369,444179, 837
549, 281
Time deposits
State,county,
andmunic-ipal de-posits
33,89039,525
106243126
73,890344,493
418, 383
Depos-its ofotherbanks
1,59850,031
10
51,63981,446
133,085
Depositsevidenced
by sav-ings pass
books
4,635,3183,264, 7211,122, 2638, 889,914
27,394
17,939,6106,089, 637
24, 029, 247
Certifi-cates ofdeposit
1,460,984292,170104,772
87619,324
1,878,1261, 290,947
3,169,073
Timedeposits,open ac-counts,Christ-
mas sav-ings, etc.
151,662329,705
2,11812, 0932,296
497, 874422,003
919, 877
Postalsav-ings
depos-its
15,00413,380
969
30
29,38388, 569
117,952
Total
6, 298, 4563, 989, 5321, 230, 2288,903,126
49,180
20, 470, 5228,317, 095
28, 787, 617
Total
6, 515, 2636, 956,032
219, 77098,47356,358
13,845, 89610, 504, 268
24, 350,164
Totalindivid-ual de-posits
12,813,71910, 945, 5641,449, 9989,001,599
105, 538
34, 316,41818,821,363
53,137, 781
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BEPORT OF THE COMPTROLLER- OF THE CURRENCY 121
Resources and liabilities of all reporting banks, June SO, 1925-1929
The resources and liabilities of all reporting banks for the fiveyears 1925 to 1929 are shown in the following statement:
[In thousands of dollars]
Classification
RESOURCES
Loans and discounts (including redis-counts)------- -
OverdraftsInvestmentsReal estate, furniture, etc.1.Due from banks 2_ — . . .Checks and other cash items3
Cash on hand _.Other resources __..
Total..—
LIABILITIES
Capital stock paid inSurplus fund -Undivided profits - —Reserves for dividends, contingencies, etc_Reserves for interest, taxes, etc., accrued.-National bank circulationDue to banksCertified and cashiers' checks outstandingDemand deposits ,. -Time deposits _--United States depositsDeposits not classified -Total depositsBills payable and rediscountsOther liabilities -
1 Includes banking house and other real estate owned.2 Includes reserve with Federal reserve banks.3 Includes exchanges for clearing house.* Included with undivided profits.fi Reported separately by national banks only.6 Includes dividend checks outstanding.i Includes letters of credit and travelers' checks sold for cash and outstanding.
> Principal items of resources and liabilities of all reporting banks in continentalUnited States, as compared with similar data for member batiks of the Federalreserve system, on or about June 29, 1929
Items
Loans 3.__ _InvestmentsCashCapital-Surplus and undivided profitsDeposits (individual). _.Aggregate resources
Allreportingbanks:1
25,260banks (000omitted)
$41,226, 59017, 306, 715
797, 8143, 764, 0875, 691, 082
52, 923, 27071,805,802
Member banks
8,707banks (000omitted)
Per centto all
reportingbanksl
Per centto all
reportingbanks,1
exceptmutualsavings
andprivate
$25, 658, 49110,052, 470
433,4912, 646,9283, 533,142
31,139, 66945,908,001
62.2458.0854.3370.3262.0858.8463.93
72.6274.4556.7570,5175.0571.0774.47
Mutualsavingsbanks:2
611 banks(000
omitted)
$5,801,4893,775,770
31,495
971,4189,001, 599
10,006,452
Privatebanks:2
391 banks(000
omitted)
27,8262,5089,905
12,015105, 538156,490
1 Exclusive of banks in Alaska and insular possessions.2 Included in all reporting banks in column 1.8 Including overdrafts.
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1 2 2 REPORT OF THE COMPTROLLER OF THE CURRENCY
MONEY IN THE UNITED STATES
Statements showing the stock of money in the United States in theyears ended June 30, 1914 to 1929; the classification of money incirculation June 30, 1929; and imports and exports of merchandise,gold, and silver in the calendar years 1914 to 1928 and the ninemonths ended September 30, 1929, follow:
Stock of money in the United States, in the Treasury, in reporting banks, in Federalreserve banks, and in general circulation, years ended June SO, 1914 to 1929
1 Public money in national-bank depositories to the credit of the Treasurer of the United States notincluded.
2 Money in banks of island possessions not included.
NOTE.—Population estimated at 108,087,000 in 1921, 109,743,000 in 1922, 111,268,000 in 1923, 112,686,000 in1924,114,104,000 in 1925, 115,614,000 in 1926, 117,034,000 in 1927, 118,455,000 in 1928, and 119,878,000 in 1929.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Circulation statement of United States money June 30, 1929
Kind of money Total amount1
Gold coin and bullionGold certificatesStandard silver dollarsSilver certificatesTreasury notes of 1890Subsidiary silverMinor coinUnited States notesFederal reserve notesFederal reserve bank notes-National-bank notes
1 Includes United States paper currency in circulation in foreign countries and the amount held by the Cuban agency of the Federal Reserve Bank of Atlanta.2 Includes money held by the Cuban agency of the Federal Reserve Bank of Atlanta.3 Does not include gold bullion or foreign coin other than that held by the Treasury, Federal reserve banks, and Federal reserve agents. Gold held by Federal reserve banks
under earmark for foreign account is excluded, and gold held abroad for Federal reserve banks is included.4 These amounts are not included in the total since the money held in trust against gold and silver certificates and Treasury notes of 1890 is included under gold coin and bullion
and standard silver dollars, respectively.* The amount of money held in trust against gold and silver certificates and Treasury notes of 1890 should be deducted from this total before combining it with total money
outside of the Treasury to arrive at the stock of money in the United States.« This total includes $15,724,715 of notes in process of redemption, $168,415,543 of gold deposited for redemption of Federal reserve notes, $13,157,972 deposited for redemption of
national-bank notes, $1,950 deposited for retirement of additional circulation (act of May 30, 1908), and $7,459,992 deposited as a reserve against postal savings deposits.7 Revised figures.
NOTE.—Gold certificates are secured dollar for dollar by gold held in the Treasury for their redemption; silver certificates are secured dollar for dollar by standard silver dollarsheld in the Treasury for their redemption; United States notes are secured by a gold reserve of $156,039,088 held in the Treasury. This reserve fund may also be used for the redemp-tion of Treasury notes of 1890, which are also secured dollar for dollar by standard silver dollars held in the Treasury. Federal reserve notes are obligations of the United States anda first lien on all the assets of the issuing Federal reserve bank. Federal reserve notes are secured by the deposit with Federal reserve agents of a like amount of gold or of gold andsuch discounted or purchased paper as is eligible under the terms of the#Federal reserve act. Federal reserve banks must maintain a gold reserve of at least 40 per cent, includingthe gold redemption fund which must be deposited with the United States Treasurer, against Federal reserve notes in actual circulation. Lawful money has been deposited withthe Treasurer of the United States for retirement of all outstanding Federal reserve bank notes. National-bank notes are secured by United States bonds except where lawful money-has been deposited with the Treasurer of the United States for their retirement. A 5 per cent fund is also maintained in lawful money with the Treasurer of the United States forthe redemption of national-bank notes secured by Government bonds*
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Kind of money
Gold coin and bullionGold certificatesStandard silver dollarsSilver certificatesTreasury notes of 1890Subsidiary silverMinor coin . . _United States notes-Federal reserve notesFederal reserve bank notesNational-bank notes
i Includes United States paper currency in circulation in foreign countries and the amount held by the Cuban agency of the Federal Reserve Bank of Atlanta.3 Includes money held by the Cuban agency of the Federal Reserve Bank of Atlanta.8 Does not include gold bullion or foreign coin other than that held by the Treasury, Federal reserve banks, and Federal reserve agents. Gold held by Federal reserve banks
under earmark for foreign account is excluded, and gold held abroad for Federal reserve banks is included.4 These amounts are not included in the total since the money held in trust against gold and silver certificates and Treasury notes of 1890 is included under gold coin and bullion
and standard silver dollars, respectively.6 The amount of money held in trust against gold and silver certificates and Treasury notes of 1890 should be deducted from this total before combining it with total money
outside of the Treasury to arrive at the stock of money in the United States.« This total includes $15,724,715 of notes in process of redemption, $168,415,543 of gold deposited for redemption of Federal reserve notes, $13,157,972 deposited for redemption of
national-bank notes, $1,950 deposited for retirement of additional circulation (act of May 30, 1908), and $7,459,992 deposited as a reserve against postal savings deposits.7 Revised figures.
NOTE.-—Gold certificates are secured dollar for dollar by gold held in the Treasury for their redemption; silver certificates are secured dollar for dollar by standard silver dollarsheld in the Treasury for their redemption; United States notes are secured by a gold reserve of $156,039,088 held in the Treasury. This reserve fund may also be used for the redemp-tion of Treasury notes of 1890, which are also secured dollar for dollar by standard silver dollars held in the Treasury. Federal reserve notes are obligations of the United States anda first lien on all the assets of the issuing Federal reserve bank. Federal reserve notes are secured by the deposit with Federal reserve agents of a like amount of gold or of gold andsuch discounted or purchased paper as is eligible under the terms of the*Federal reserve act. Federal reserve banks must maintain a gold reserve of at least 40 per cent, includingthe gold redemption fund which must be deposited with the United States Treasurer, against Federal reserve notes in actual circulation. Lawful money has been deposited withthe Treasurer of the United States for retirement of all outstanding Federal reserve bank notes. National-bank notes are secured by United States bonds except where lawful money-has been deposited with the Treasurer of the United States for their retirement. A 5 per cent fund is also maintained in lawful money with the Treasurer of the United States forthe redemption of national-bank notes secured by Government bonds*
S3
OO
so
cj
3a
to00
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124 REPORT OF THE COMPTROLLER OF THE CURRENCY
Imports and exports of merchandise, calendar years 1914 to 1928, inclusive, andfrom January 1 to September 80> 1929
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REPORT OF THE COMPTROLLER OF THE CURRENCY
BANKS IN THE DISTRICT OF COLUMBIA
125
A classification of banking associations in the District of Columbia,together with capital, individual deposits, and aggregate assets, June29, 1929, follows:
National . . . _„_.,Loan and trust companiesSavings banksBuilding and loan associations
Total
Num-ber
63
Capital
$10, 775,00011,400,0002, 705, 000
24, 880, 000
Individualdeposits i
$121,824,00082,091,00040, 519, 000
258,916,000
Aggregateassets
$173,822,000110,622,00047,353, 00065, 964,000
303,350,000 I 397,761,000
1 Amounts due to banks not included.2 Snare payments mainly.
E&mings, expenses, and dividends of hanks other than national in theDistrict of Columbia
The following statement shows comparative figures concerning theearnings, expenses, and dividends of banks other than national in theDistrict of Columbia for the years ended June 30, 1929 and 1928:
Earnings, expenses, and dividends of trust companies and savings banks in theDistrict of Columbia[In thousands of dollars]
Capital stockTotal surplus fund „Dividends declared m
Gross earnings:Interest and discount on loans....Interest (including dividends) on
investmentsInterest on balances with other
banksDomestic exchange and collection
charges.Foreign exchange departmentCommissions and earnings from
insurance premiums and thenegotiation of real-estate loans..
Trust department.Profits on securities soldOther earnings
Total - „_
Expenses paid:Salaries and wages „Interest and discount on bor-
rowed moneyInterest on bank depositsInterest on demand depositsInterest on time deposits.—Taxes.Other expenses _
Total
6 months ended Dec.31,1928
7 trustcom-
panies
11,4008,964
612
1,975
628
74
510
2627273
451
3,514
741
419
414425376291
2,270
22 sav-ings
banks
2,6491,827
192
966
235
32
162
24
3399
1,437
377
111455
34482
218
1,101
29 totalbanks
14,04910, 791
804
2,971
863
106
2112
50272106550
4,951
1,118
1533
469769458509
3,371
6 months ended June30,1929
7 trustcom-
panies
11,4009,468
648
1,981
507
68
68
1031761
289
3,247
784
1025
339447336305
2,246
22 sav-ings
banks
2,7051,880
125
1,026
238
28
181
32
1698
1,457
381
141151
32984
236
1,106
29 totalbanks
14,10511,348
773
3,007
745
96
249
4231777
387
4,704
1,165
2436
390776420541
3,352
YearendedJune
30,4929,29
banks
14,10511,3481,577
5,978
1,608
202
4521
92589183937
9,655
2,283
3969
8591,545
8781, 050
6,723
YearendedJune
30, 1928,29
banks
13,99010, 5881,480
5,410
1, 454
229
3426
106650318931
9,158
2,206
1481
7721,453
776993
6,295
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126 REPORT OF THE COMPTROLLER OF THE CURRENCY
Earningsy expenses, and dividends of trust companies and savings banks in theDistrict of Columbia—Continued
[In thousands of dollars]
Net earnings - _ _ _Recoveries on charged-off assets:
Loans and discounts .._Bonds, securities, etcAll other
Total ,
Losses and depreciation charged off:On loans and discounts .On bonds, securities, etcOn banking house, furniture, and
fixturesOn foreign exchange ^.Other losses
Total
Net addition to profits
6 months ended Dec.31, 1928
7 trustcom-
panies
1,244
1321
1,278
2414
56
175
269
1,009
22 sav-ings
banks29 totalbanks
336 1,580
7 1 811
345
6516
28
8
117
228
33o
1,623
8930
84
183
386
1,237
6 months ended June30, 1929
7 trustcom-
panies
1,001
13512
1,049
2425
30
10
89
960
22 sav-ings
banks
351
111
44
407
11145
11
13
180
227
29 totalbanks
1,352
123656
1,456
13570
41
23
269
1,187
YearendedJune
30, 1929,29
banks
2,932
206958
3,079
224100
125
206
655
2,424
YearendedJune
30, 1928,29
banks
2,863
3610024
3,023
21987
10713
125
551
2,472
Building and loan associations in the District of ColumbiaThe resources of the 22 building and loan associations operating
in the District of Columbia under the supervision of the Comptrollerof the Currency on June 30, 1929, totaled $65,964,000 and exceededby $6,109,000 the resources of a like number of associations on June30 a year ago.
The loans, which aggregated $63,566,000, showed an increase inthe year of $6,061,000. Installment payments on shares increasedalso from $53,738,000 to $58,916,000.
Fifteen of the associations operated on the permanent plan, 6 onthe serial plan, and 1 on the terminating plan. The total member-ship was 71,205, as compared to 66,219 members a year ago, and ofthe total in the current year the numbers borrowing and nonborrowingwere 19,428 and 51,777, respectively.
Years
June 30—190919101911191219131914 _19151916191719181919192019213922192319241925192619271928 „ „ .1929 . .
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REPORT OF THE COMPTROLLER OF THE CURRENCY 127
The foregoing statement discloses the number of building and loanassociations in the District of Columbia, their aggregate loans,installments paid on shares, and total resources on June 30 of eachyear 1909-1929. Summaries of the resources and liabilities of theindividual associations for the six months ended June 30, 1929,together with consolidated statements of assets and liabilities andreceipts and disbursements for the six months ended December 31,1928, and June 30, 1929, are published in the appendix of this report.
BUILDING AND LOAN ASSOCIATIONS IN THE UNITED STATESStatistics relative to building and loan associations in the United
States have been obtained through the courtesy of Mr. H. F. Cel-larius, secretary United States League of Local Building and LoanAssociations, with headquarters at Cincinnati, Ohio, and are pub-lished in the following statements:Number of building and loan associations, total membership, and total assets, etc.,
for the year ended in 1928, by States
States
PennsylvaniaOhioNew JerseyM assachusetts...Illinois -New York _.„..IndianaCalifornia.Wisconsin,Maryland *LouisianaMissouri...Nebraska.. „MichiganOklahoma.-.-.KansasWashington _ .Texas..KentuckyNorth CarolinaDistrict of Columbia.Virginia4
ColoradoIowa__Utah.__. -ArkansasWest Virginia_..Minnesota.-™. -Alabama _Rhode Island __OregonSouth Carolina4
1 Located as follows: Florida, 1; Illinois, 1; Kentucky, 1; Missouri, 2; Ohio, 2; Pennsylvania, 15; andSouth Dakota, 1.
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MONETARY STOCK OF PRINCIPAL COUNTRIES OF THE WORLD
The following statement, furnished by the Mint Bureau, shows the monetary stock of the principal countries ofthe world at the end of the calendar years 1927 and 1928:
Monetary stock of principal countries of the world, end of calendar year 1927
[The compilations have been made from such data as are available—avowedly incomplete. The amount of gold and silver in circulation in many countries is not obtain-able, and in some countries that held by private banks can not be given.
For the United States the figures given cover all domestic gold and silver coin, but only such bullion and foreign coins as are owned by the Government and Federal reservebanks. All foreign coin which comes into possession of the Government is converted into bullion.]
[Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)]
Country
North America:United StatesCanadaMexico 3 _British HondurasCosta RicaCuba4
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Monetary stock of principal countries of the world, end of calendar year 1927—Continued[Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)]
Country
Africa—Continued.EgyptEritrea _French Equatorial
Africa.Gambia. _Gold CoastGuinea, FrenchIvory CoastKenya Colony and
Uganda.4MadagascarMoroccoNigeriaNyasaland..Portuguese East
Africa.7Portuguese West
Africa.Reunion Island 20_. - . .Rhodesia-
NorthernSouthern. __
SenegalSierra LeoneSomaliland—
British.FrenchItalian . . . . .
Mone-tary
standard
Gold.- . do—do.. . .
. do—do__.___do
do—do
do— d o
do—do...do
do .
- d o
. do—do._
do—do
—do—do—do
Monetary unit
Name
PoundLiraFranc
Pounddo
Franc.do
Shilling
Franc. do .Pound
._doEscudo .
do
Franc
Pounddo
FrancPound
RupseFrancRupee
UnitedStates
equiva-lent
$4.9431.193.193
4.86654.8665
.193
.193
.2433
.193
.1934.86654.86651.0805
1.0805
.193
4.86654.8665
.1934.8665
.365
. 193
.365
Metallicstock
unclas-sified
$2,658
560
Gold stock
In banksand publictreasuries,includingthat heldabroad intrust--setaside or
1 Includes gold and silver certificates (representing coin and bullion held in trust inthe treasury) redeemable on demand.
2 Including some silyer.3 Figures for 1925.« On June 30, 1927.* United States Government and bank notes.s In United States dollars.7 Last year's figures or figures of previous years.8 Newfoundland government notes only.8* Paper milreis.0 Including minor coin.
1C Stock in national bank." Monetary standard not established.12 On Bee. 24, 1927.13 Exclusive of Spanish bank notes.14 Includes that held abroad.« On Jan. 10,1928." On Jan. 1,1928." Incomplete.18 Fluctuates with the price of silver.i« On Mar. 20, 1927.20 June 30,1928.
3nO
NOTE.—Figures given represent each country's stock at the end of the year, except when otherwise indicated. Population figures are from the Commerce Yearbook, 1928. Blanksindicate no figures available, rather than no stock. Gold reported held abroad but not reported as set aside or "earmarked," not included in the above figures (presumably reportedby tha country having actual possession).
33
a
0000
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Monetary stock of principal countries of the world, end of calendar year 1928 (subject to revision)
IStated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)CO
Country
North America:United StatesCanadaMexico3 __.British HondurasCosta Rica . . .Cuba*Dominican Republic.GuatemalaHaiti6
Honduras6
Newfoundland 6_Nicaragua...PanamaSalvador6 . ._
British West Indies-BarbadosJamaicaTrinidad6
Dutch West Indies....French West Indies—
Guadeloupe
South America:Argentina.BoliviaBrazilChileColumbiaEcuador
1 Includes gold and silver certificates (representing coin and bullion held in trust inthe treasury) redeemable on demand.
2 Including some silver.8 In Mexican banks on Apr. 30,1928.4 On June 30,1928; national coin and United States bank notes in Government treasury
and in banks.* United States Government notes.6 Last year's figures or figures of previous years.7 Newfoundland Government notes only.8 In Banco Nacional; paper currency of the United States circulates.
8 In United States dollars.10 New monetary unit established July 11, 1928." On May 31,1928." N e w monetary unit established Mar. 19, 1927.*3 Exclusive of the gold held abroad.i* Including nickel." On Nov. 27, 1928." Stock in National Bank.
" Exclusive of 1-schilling and U-schilling coins.is On Dec. 25, 1928.19 Including some minor coin.20 New monetary unit established Nov. 28, 1928.21 Monetary standard not established; stabilized rate indicated.22 On Dec. 28,1928.23 New monetary unit established June 24, 1928.24 Exclusive of Spanish bank notes.26 New monetary unit established May 14, 1928.26 New monetary unit established Dec. 22, 1927.27 On Dec. 26, 1928.28 On Jan. 1, 1929.2« On Dec. 29,1928.30 Incomplete.si Fluctuates with the price of silver.32 Including notes.33 On June 30, 1928.34 In banks and Government treasury,
NOTE.—Figures given represent each country's stock at the end of the year, except when otherwise indicated. Population figures are from the Commerce Yearbook, 1928.Blanks indicate no figures available, rather than no stock. Gold reported held abroad but not reported as set aside or "earmarked," not included in the above figures (presumablyreported by the country having actual possession).
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138 REPORT OF THE COMPTROLLER OF THE CURRENCY
FEDERAL LAND BANKS
The statement following shows the condition of the 12 Federalland banks September 30, 1929, compiled from their reports to theFederal Farm Loan Board:Consolidated statement September SO, 1929, compiled from reports to the Federal
Farm Loan BoardASSETS
Gross mortgage loans $1, 308, 756, 254. 50Less payments on principal 105, 383, 571. 68
Net mortgage loans 1, 203, 372, 682. 82Less principal of delinquent installments. 882, 200. 09
$1, 202, 490, 482. 73United States Government securities. . 17, 267, 933. 33
17, 267, 933. 33Bonds of other Federal land banks 5, 771, 039. 38Other securities 4, 181, 108. 07"Cash deposits for matured or called bonds - 18, 775. 00Cash on hand and in banks . . . . 8, 317, 683. 35Accounts receivable:
Delinquent amortization installments:Less than 30 days . . . 624, 892. 2130 to 60 days 311, 247. 6060 to 90 days.. _ 491, 465. 1490 days and over 2, 201, 323. 35
Total 3, 628, 928. 30Less partial payments 284, 315. 47Less reserves for delinquent install-
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140 REPORT OF THE COMPTROLLER OF THE CURRENCY
JOINT STOCK LAND BANKS
The statement following shows the condition of the 49 joint stockland banks September 30, 1929, compiled from their reports to theFederal Farm Loan Board:
Consolidated statement September 80, 1929, compiled from reports to the FederalFarm Loan Board *
ASSETS
Gross mortgage loans $637, 098, 072. 39Less payments on principal 43, 277, 696. 29
Net mortgage loans 593, 820, 376. 10Less principal of delinquent installments 432, 488. 75Less reserves for mortgage loans—foreclo-
sures pending 644, 122. 35$592, 743, 765. 00
United States Government securities $5, 670, 921, 88Less sold under repurchase agreement ,
5, 670, 921. 88Other securities 137, 023. 65Cash deposits for matured or called bonds 2, 500. 00Cash on hand and in banks 7, 118, 480. 16Accounts receivable:
Delinquent amortization installments:Less than 30 days 425, 098. 1430 to 60 days ._. 163, 462. 9160 to 90 days- --- 253, 652. 8390 days and over _ 1, 160, 490. 41
Total 2, 002, 704. 29Less partial payments 200, 534. 47Less reserves for delinquent install-
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142 REPORT OF THE COMPTROLLER OF THE CURRENCY
FEDERAL INTERMEDIATE CREDIT BANKS
The statement following shows the condition of the 12 Federalintermediate credit banks September 30, 1929, compiled from theirreports to the Federal Farm Loan Board:
Consolidated statement September 30, 1929, compiled from reports to the FederalFarm Loan Board
ASSETS
Loans.. . $16, 860, 478. 15Discounts 55, 343, 053. 97United States Government securities. $249, 562. 50Less sold under repurchase agreement
— 249, 562. 50Debentures of other Federal intermediate credit banks 4, 683, 983. 72Other securities-.... 50, 010. 00Cash on hand and in banks 4, 947, 876. 06Less cash held as collateral. 143, 009. 51
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REPORT OF THE COMPTROLLER OF THE CURRENCY 143
NATIONAL AGRICULTURAL CREDIT CORPORATIONS
Under the provisions of the act of March 4, 1923, United StatesRevised Statutes, National Agricultural Credit Corporations may beformed for the purpose of providing credit facilities for the agri-cultural and livestock industries of the United States. The PacificNational ^Agricultural Credit Corporation of Fresno, Calif., is theonly such corporation now in existence. It is authorized to transactbusiness within the States of California, Arizona, Nevada, Oregon,Utah, Idaho, and New Mexico.
A statement of the resources and liabilities of the Pacific NationalAgricultural Credit Corporation of Fresno, Calif., as of the close ofbusiness on October 4, 1929, appears below:
EESOURCES
Cash on hand and in banks $33, 618. 65United States bonds 261, 073. 01Loans 2, 664, 339. 53Furniture and fixtures._„ 2, 117. 28Accounts receivable 504. 06Other assets ____„__ 16, 804. 93Customers funds held in trust._„ „..„ 80, 951. 55
The tables following, compiled by the Third Assistant PostmasterGeneral, under whose supervision the system operates, disclose com-parative statements of the resources and liabilities of the postalsavings system for the years ended June 30, 1928 and 1929, togetherwith a summary of the postal savings business for the fiscal yearended June 30,1929, by States. (The total number of depositors onJune 30, 1929, was 416,584, an increase of 4,334 in the year, and theaverage amount on deposit per depositor was $368.82, compared to$369.06 a year ago.)
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Comparative balance sheet for June SO, 1929, and June SO, 1928
Items June 30,1929 June 30,1928 Increase Decrease
Working cash:Depository banks.Postmasters.....
$127,491,263. 27345,487.01
Special funds:Treasurer of the United S ta tes -
Reserve fundMiscellaneous (working) funds
Accounts receivable:Accrued interest on bond investmentsDue from discontinued depository banks..Due from late postmasters
- $127,836,750.28
7,459,986.921,449,971.26
287,004.0115.22
40,496.00
Investments, carried at cost price:United States bonds— Par value
Postal savings 2^'s $11,147,620Fourth Liberty 4&'s. 16,676,750
27,824,370
11,147,620.0014,516,329.13
Accounts payable: Due Postal Service—interest and profits
Total liabilities _Surplus funds: Interest and profits (undistributed earnings) subject to future
allocation of maturing interest charges __
8,909,958.18
327,515.23
25,663,949.13
162,738,172.82
LIABILITIES AND SUBPLTJS FUNDSDue depositors:
Outstanding principal, represented by certificates of deposit . . . . I 153,644,529.00Accrued interest on certificates of deposit ! 4,353,571.05Outstanding savings stamps __ 57,438.50
158,055, 538. 554,446,745. 44
162,502,283.99
235,888.83
162,738,172.82
$118,492,184. 57567, 716.85
$119,059,901.42
6,444,665.561,314,002.28
369,003.6712,110.5754,450.95
10,624,260.0023,220,860.36
7,758,667.84
435, 565.19
13,845,120.36
161,099,254.81
152,143,349.004,128,936. 20
57,672.00156,329,957.20
4, 542, 592.99
160,872, 550.19
226,704.62
161,099,254.81
$8,999,078. 70
8,776,848.86
1,015,321.36135,968.98
1,151,290.34
523,360.00
1,638,918.01
1,501,180.00224,634.85
1, 725, 581.35
1,629,733.80
9,184.21
1, 638,918.01
c$222,229.84 £J
H3
O
81,999.66 H12,095.35 -13,954.95 g
108,049.96 ^
8,~7G4,~53T23 &8,181,171. 23 p
F
C• - ^
" 233.~50 ^
~95~847~55 fe|
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Comparative statement of interest-earning resources and interest-bearing liabilities for June 80, 1929, and June 80, 1928
Items
RESOURCES—INTEREST EARNING
Working cash: Depository banks, per balance sheetInvestments, carried at cost price, per balance sheet
LIABILITIES—INTEREST BEARING
Due depositors: Outstanding principal, represented by certificates of deposit,per balance sheet
Excess of interest-bearing liabilities.
June 30,1929
$127,491,263.2725,663,949.13
$153,155,212.40
153,644, 529.00
489,316.60
June 30,1928
$118,492,184. 5733,845,120.36
$152,337,304.93
152,143,349.00
-193,955.93
Increase
$8,999,078. 70
817,907.47
1,501,180.00
683,272.53
Decrease
$8,181,171.23
Comparative statement of interest and profits for the fiscal years ended June 80, 1929, and June 80, 1928
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Items
Credits:Interest on bank depositsInterest on bond investmentsMiscellaneous receiptsProfit realized on sale of in vestments.
Debits:Interest credited to depositorsAllowances to postmasters-
Losses by fire, burglary, etc -Erroneous payments, uncollectible items, etc..
Miscellaneous JossesFinal adjustment, previous year
Excess of income.
Fiscal year, 1929
$3,192,466.59988,148,26
264.631,473,593.77
2,765,008.10
-252.403,545.00
193.349,184.21
$5,654,473.25 |
2,777,678. 25
2,876,795.00
Fiscal year, 1928
$2,915,849.051,395,969.47
18.21
2,720,896.47
-1,013.56853.92
21,~l49.~46
$4,311,836. 73
2,741,886.29
1,569,950. 44
Increase
$276,617. 54
246.421,473,593. 771,342,636. 52
44, 111. 63
761.162,691.08
193.34
85,791.96
1,306,844.56
Decrease
$407,821.21
11,965.25
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Summary of postal-savings business for the fiscal year ended June SO, 1929, by States
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Porto Rico „Rhode IslandSouth CarolinaSouth DakotaTennessee ...Texas „U t a h . . . .VermontVirginia. J^_-Virgin Islands __ .V.WashingtonWest Virginia _Wisconsin... __Wyoming
153,072490,001
1,279,3774,088,073
487,4573,735,456
626, 60463,992
219,4639,486
6,874,064495, 582
1,399,6571,956,474
209,839250,671
1,357,6023,376,275
579,2343,547, 554
399,86231,801
254,69729,657
4,406,778681,215832,220
1,452,134
221,394318,087
1,109,6643,062,856
459,7353,054,734
410,49741,551
219,80416,392
4,433,877317,503780,376
1,518,527
141, 517 [422,585
1,527,315 I4,401,492
606,9564,228, 276
615,96954,242
254,35622,751
6,846,965857,874
1,447,4461,895, 556
-11,555-67,416247,938313,419119,499492,820
-10,635-9,75034,89313,265
-27,099362,29247,789
-60,918
1 These totals include the amount of $3,454,892 transferred between depository offices,s A minus sign (—) denotes decrease.
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148 REPORT OF THE COMPTROLLER OF THE CURRENCY
SCHOOL SAVINGS BANKING
Statistics relative to school savings banks in the various States andthe District of Columbia for the school years ended 1928 and 1929,with comparative yearly totals beginning with the school year ended1920, are shown in the following table:
School savings by States, 1927-28 and 1928-29[Compiled by the Savings Bank Division of the American Bankers Association]
States
1927-28 1928-29
AlabamaArizonaArkansasCaliforniaColoradoC onnecticutDelawareDistrict of Co-
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REPORT OF THE COMPTROLLER OF THE CURRENCY 1 4 9
SAVINGS BANKS IN PRINCIPAL COUNTRIES OF THE WORLD
Statistics compiled by the finance and investment division of theBureau of Foreign and Domestic Commerce, Department of Com-merce, relative to savings banks, including postal-savings banks, inthe principal countries of the world, on specified dates, supplementedby information obtained from reports received in the currency bureaufrom other sources, are shown in the statement following:
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Savings banks, including postal-savings banks, number of depositors and amount of deposits, by specified countriesOxO
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Country Population1Numberof banks jreporting
Date of report Form of savings bank Number ofdepositors Deposits *
Argentina
Australia
Austria -Belgium. _BoliviaBrazilBulgariaCanadaChile
China _ColombiaCosta RicaCuba.CzechoslovakiaDanzigDenmarkEcuador. _
42,386,212/Postal-savings system _....| 416,584\Mutual and stock . i 14,043,614Postal—. ! 310,001
166,694"804,725
5,65183,642
13,649
57,156, 411
136,000,00098,000,000£7,657,407
£48,644,217£57,700,000
$491,302,00012,350,0003,047,5595,381,655
91,596,80036,291,185
i» 2,266,64332,495,00035,427,000
830,615,300331,008,00041,548,343
1,778,980,000
153,644,52910,451, 597,000
4,016,767
1 Source: Commerce Yearbook, 1928, Vol. II—Foreign Countries, pp. 678-679.2 For Latin American countries, conversions have been made at the average rate for the year covered by the report; in the case of European countries, conversions have been
made at the average rate for the month given as the date of the report.3 Including the Hobart and Launceston trustee institutions.4 Commercial banks may accept savings deposits only on special authorization,s Yuan; "Big dollar" accounts.8 "Small coin" accounts.7 One bank not reporting.6 Not including 1927 dividends.• Figures given in Straits Settlement dollars.10 In addition, 5,660 time depositors.» In addition, $1,983,680 in time deposits.12 Rupees.J3 Yen" There are no savings banks in Mexico. An amendment to the banking law in August, 1928, permitted certain types of banks to open savings departments. Postal savings
inaugurated in February, 1928, figures not available.i« 1928.*6 Deposits included with the United Kingdom.17 Includes only 22 private banks and 9 commercial banks.18 No savings banks in Salvador.is Ticals.20 Figures cover only the Bank of the Republic and its dependency, the National Savings Bank and discount department.** Refers to mutual and stock savings banks only.
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152 BEPORT OF THE COMPTROLLER OF THE CURRENCY
RESOURCES OF LEADING FOREIGN BANKS OF ISSUE
The total resources of 39 foreign banks of issue converted at the exist-ing rate of exchange on or about June 30, 1929, were $17,896,953,000.Total resources of 34 foreign banks of issue on or about June 30, 1929*were $16,913,081,000 in comparison with resources of $15,534,420,000reported by the same foreign banks on or about June 30, 1928.
The statement below, prepared by the Federal Eeserve Board,shows with reference to the 39 banks of issue, the eountry of eachbank, the date of the bank's statement, and its total assets in localcurrency and in dollars at the current rate of exchange.
Total assets of principal banks of issue about June SO, 1929
i In the compilation of total assets certain contra accounts have been omitted.s Par of exchange, as no quotation for date given is available.' The increase of total assets of the Bank of England from £283,684,000 ($1,383,189,000) on June 27,1928, to
£508,983,000 ($2,467,445,000) on June 26,1929, is largely due to the amalgamation of the Government currencynote accounts with those of the Bank of England on November 22,1928. See Federal Reserve Bulletin forDecember, 1928, p. 847.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 153
EXPENSES OF THE CURRENCY BUREAU
By reference to the table following, showing in detail expensesrelating to the maintenance of the Currency Bureau for the fiscalyear ended June 30, 1929, it will be noted that the aggregate expenseswere $6,331,765.07, of which $1,177,718.87 was paid from appropria-tions and $5,154,046.20 reimbursements by the banks. The salaryrolls aggregated $533,201.89, of which $250,126.34 was paid fromappropriations and the remainder from funds reimbursed by the banks.
Taxes paid by national banks on circulating notes issued amountedto $3,441,152.95, Deducting from this amount the expenses of thebureau paid from congressional appropriations, $1,177,718.87, leavesthe net income to the Government on account of the tax on circulationat $2,263,434.08.
Expenses incident to maintenance of Currency Bureau and net income derived byGovernment from taxes on national-hank notes, fiscal year ended June SO, 1929
Salaries:Regular roll, including retirement deductionsNational currency reimbursable roll, including retirement
deductions _Federal reserve issue and redemption division, including
retirement deductionsInsolvent national-bank division, including retirement
deductions.Total salaries „
General expenses:Printing and binding _Stationery _Amount expended for light, heat, telephone, telegraph,
Federal reserve notes—PaperPlates, printing, etc..
Total currency issuesExpenses on account of national-bank examining service paid
by banks _ -----Postage on shipments of national-bank notesPostage on shipments of Federal reserve notesInsurance on shipments of national-bank notes „Insurance on shipments of Federal-reserve notes
Total expenses paid from appropriations..Total expenses reimbursed by banksTotal expenses..
Expensespaid from ap-propriation
$250,126.34
23, 7G4. 886, 712.82
3,329. 73
802.10
112. 083. 00780, 900. 00
1,177, 718.87
Expenses re-imbursed by
banks
$51, 540.11
50,663.98
180,871.46
4, 609. 082, 062.92
4, 254. 60
35,028.00
341, 927. 001, 767, 262. 00
2, 409, 858.4783, 323.99
115, 257.1018,954.8988,432. 60
5,154, 046. 20
Total ex-penses
$533, 201.89
45, 536.13
3, 037, 200. 00
2, 409, 858. 4783, 323. 99
115, 257.1018, 954.8988, 432. 60
I6,331, 765.07
Tax paid by national banks on circulating notesTotal expenses of Currency Bureau paid from congressional appropriations-,
$3,441,152. 95, 1,177,718.87
Net income to Government from taxes on circulation 2,263,434.08
Respectfully submitted.J. W. POLE,
Comptroller of the Currency.
To the SPEAKER OF THE HOUSE OF REPRESENTATIVES.
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APPENDIX
155
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DIGEST OF DECISIONS BELATING TO NATIONAL BAMS
THE FOLLOWING FEDERAL CASES WERE REPORTED IN VOLUME136 U. S. (1 CASE) VOLUME 277 U. S., VOLUMES 29 TO 33 FEDERALREPORTER, SECOND SERIES WITH ONE CASE FROM VOLUME 164 N. E.REPORTS AND ONE FROM 233 N. Y. SUP.
IN ADDITION TO THE CASES REFERRED TO THERE HAVE BEENADDED REFERENCES TO A NUMBER OF DECISIONS OF STATE COURTSAND A FEW FEDERAL DECISIONS OF PARTICULAR INTEREST TOBANKS, FOR THE PERIOD FROM NOVEMBER 1, 1928, TO OCTOBER 15,1929, WHICH WERE FURNISHED THIS OFFICE BY MR. THOMAS B.PATON, THE GENERAL COUNSEL FOR THE AMERICAN BANKERS ASSO-CIATION.
AFFILIATED CORPORATIONCROSS REFERENCE:
DIVIDENDS— PageDIVIDEND DECLARED FOR THE PURPOSE OF ORGANIZING AN
AFFILIATED CORPORATION 166
BRANCH BANKS
BRANCH BANKS IN UNITED STATES 157BRANCH BANKS IN FOREIGN COUNTRIES * 157CROSS REFERENCES:
FOREIGN BANKING CORPORATIONS 168EXCHANGE 167
BRANCH BANKS IN UNITED STATES
Foreign national hank maintaining in State, office soliciting business and gatheringinformation, held not "doing business" therein and not subject to State court'sjurisdiction nor suable by nonresident {12 U. S. C. A. sec. 2J+, subd. 7; GeneralCorporation Law, sec. ^7),
(City Court of N. Y. 1929.) National bank having its principal place ofbusiness in California, and whose main business under 12 U. S. C. A.,section 24, subdivision 7, was discounting and negotiating of commercialpaper; receiving deposits, buying and selling of exchange, coin, and bullion,loaning money on personal security, and obtaining, issuing, and circulat-ing of notes, none of which functions were performed by it in Newr York,where it maintained office, solicited business, and gathered information,held "not doing business" in New York so as to be subject to service ofprocess on its vice president in charge of New York office nor subject tosuit by nonresident under General Corporation Law, section 47. (Raiolav. Los Angeles First Nat. Trust & Savings Bank, 233 N. Y. S. 301.)
BRANCH BANKS IN FOREIGN COUNTRIES
Mere bookkeeping entry of bank does not constitute "payment."(N. Y. App. 1928.) While entry upon books of bank in many cases may
evidence completed transaction or transfer and thus constitute "payment/'mere bookkeeping entry itself is not payment. (Sokolofr* v. National CityBank of New York, 250 N. Y., 69; 164 N. E., 745.)
Action—Court must look through forms of business transactions to determine exactfacts involved.
(N. Y. App. 1928.) Court must look through the form of transactions andbusiness communications to determine the exact facts involved. (Ib.)
157
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158 REPORT OF THE COMPTROLLER OF THE CURRENCY
Order of defendant7s Russian bank to Russian State Bank to debit its account trans-ferring credit to third party and bookkeeping entry debiting depositor's accountheld not "payment," where order was not carried out and defendant sought tocountermand.
(N. Y. App. 1928.) Order of defendant's Russian bank to Russian StateBank to transfer certain sum in rubles to credit of third party, debitingdefendant's account, which order was communicated in accordance withdepositor's request, and was accompanied by bookkeeping entry by whichdepositor's account was debited, held not to constitute payment bydefendant's branch bank, where credit was never established and moneynever transferred, and defendant's branch bank countermanded its orderdb.)
Defendant's Russian bank, whose order on Russian State Bank to transfer credit tothird party, following depositor's orders, was not carried out, should notify deposi-tor that account was replenished.
(N. Y. App. 1928.) Where defendant's Russian bank, in accordance withdepositor's instructions, ordered Russian State Bank to transfer credit toaccount, of third party, debiting defendant bank, and order was not car-ried out and transfer of credit never made, defendant b?aik was underduty to explain the matter to its depositor, who made subsequent demandsfor payment, and should have notified depositor of situation. (Ib.)
Contracts—Allowance must be made, in connection with requirements of perform-ance of contracts, for local conditions created by revolution.
(N. Y. App. 1928.) In determining rights and liabilities under contract,proper allowance must be made for turbulent and confused conditionsfollowing revolution, with respect to requirements of performance. (Ib.)
Failure of depositor to make demand on defendant''s Russian bank for payment ofdeposit, immediately prior to commencing suit, held not fatal, where revolutionintervened in which bank was taken over by Soviet Government.
(N. Y. App. 1928.) Failure of depositor to make demand on defendant'sRussian bank before commencement of suit to recover amount of depositheld not to preclude recovery, where depositor, after having orderedtransfer of credit, had made repeated demands, which were refused onaccount of the attempted transfer, and where revolution intervened, inwhich bank was taken over by Soviet Government, and where bank hadfailed to notify depositor that his account had been replenished by failureof State bank to transfer credit to third party as directed. (Ib.)
Bank is not in default as to depositor until it refuses to pay account on demand.(N. Y. App. 1928.) There is implied contract on part of bank to keep
deposit until called for, and bank is not in default except on refusal topay amount of account on demand. (Ib.)
Depositor need not demand payment of deposit, as condition to suit against bank,where demand would be futile.
(N. Y. App. 1928.) Where bank has disclaimed liability for deposit, or forany other reason demand would be futile, demand need not be made foramount thereof as condition of suit against bank. (Ib.)
Cessation of business operations is breach of bank's contract to pay money depositedon demand.
(N. Y. App. 1928.) When bank ceases to do business, with result that de-positor who desires to withdraw his money can not make demand andcan not draw upon his account, bank's contract to pay amount of depositon demand is broken. (Ib.)
Breach of contract with depositor by cessation of operations of defendant's Russianbank held not excused, for impossibility of performance, by fact that bank wasseized by Soviet Government.
(N. Y. App. 1928.) Breach of contract of defendant's Russian bank withdepositor, resulting from cessation of business which precluded demandand withdrawal by depositor, held not excused, on ground of impossibilityof performance, by fact that the breach was not willful and that the prop-erty of the bank was seized by Soviet Government, since seizure andnationalization of banks in Russia was not an act of government, onaccount of failure of United States to recognize Soviet Government. (Ib.)
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REPORT OF THE COMPTROLLER OF THE CURRENCY 159
Depositor's damages against defendant bank for breach of contract by Russian branchheld value of rubles on deposit at time bank ceased to function, measured in dollarsin place where remedy was sought.
(N. Y. App. 1928.) In action by depositor against defendant bank forbreach of contract by Russian branch thereof, which was taken over bySoviet Government, contract to pay money on demand was broken as ofdate when branch bank ceased to function, and measure of damages ofdepositor was value, as of that date, in Petrograd of rubles on deposit,measured in dollars in New York City, where remedy was sought. (Ib.)
Interest on deposit from time of bank's breach of contract with depositor held properlydetermined according to legal rate in place where depositor sought recovery.
(N. Y. App. 1928.) In action by depositor against bank for breach ofcontract by Russian branch thereof to hold deposit subject to demand,interest from time of defendant's breach of contract was properly allowedaccording to legal rate in place where recovery was sought, since arrange-ment between bank and depositor regarding interest ceased when contractwas breached. (Ib.)
Bank held not relieved from liability to depositor in defunct Russian branch thereoffor value of rubles deposited, by provisions of Russian Code.
(N. Y. App. 1928.) Bank conducting banking operations through Russianbranch held not relieved from duty to pay depositor value of rubles de-posited at time of breach of contract by Russian branch by cessation ofoperations, by Russian Code requiring that everf one shall be obligatedto compensate for damage and losses caused by his action or neglect,unless compelled thereto by law or by government, or necessary self-defense, or unavoidable circumstances. (Ib.)
COLLATERAL SECURITIES
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Bills and notes—City bank reacquiring notes from country banks on maker's in-solvency, held holder or transferee with original rights restored.
(U. S. C. C. A. 1929.) Where city bank held notes secured by collateral,but had invested money of correspondent country banks in such notes,and on learning of maker's insolvency, with authority of country banks,took back notes with collateral and held them as its own, city bank heldto be holder or transferee of all notes, with original powers and rightsrestored to it, on reacquiring them. (Fidelity-Philadelphia Trust Co.et al. v. Philadelphia-Girard Nat. Bank. 33 Fed. Rep. (2d series) 649.)
Bankruptcy—Rights of city bank holding bankrupt's notes were not fixed underStale insolvency law by execution of assignment for creditors, so as to preventreacquisition of notes from country banks. (Act Pa. June 1+, 1901, P. L. 4@4>'Pa. St. 1920, sec. 710 et seq.; Bankr. act [11 U. S. C. A.].)
(U. S. C. C. A. 1929.) Rights of city bank, holding notes of insolventbroker secured by collateral, and of other creditors, did not become fixedthe instant broker executed deed of assignment for benefit of creditorsby force of act (Pa. June 4, 1901, P. L. 404; Pa. St. 1920, sec. 710 et seq.),so as to prevent city bank from reacquiring notes from country banks afternotice of insolvency, since insolvent, being broker, was subject to nationalbankruptcy act (11 U. S. C. A.), which suspended or superseded Stateact as to preferences, and acts of parties were not unlawful becausemade so by assignment at common law. (Ib.)
Bankruptcy—Insolvency established by assignment for creditors did not makeequity in pledged collateral trust fund for creditors.
(U. S. C. C. A. 1929.) Insolvency, when established and made known byassignment for benefit of creditors, did not fix rights of all creditors,including banks holding notes secured by collateral, and make all assets,including insolvent's equity in pledged collateral, trust fund for creditors.(Ib.)
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Bankruptcy—Circuit Court of Appeals had jurisdiction of appeal taken October14 from order rendered September 17, on opinion handed down on August 29,directing allowance of claims as secured.
(U. S. C. C. A. 1929.) Where opinion of the district court, holding thatorder of referee in bankruptcy disallowing claims of petitioners as securedcreditors should be reversed, was handed down August 29, and order basedthereon was rendered September 17, appeal to Circuit Court of Appealsfrom such order taken on October 14, was timely, and gave latter courtjurisdiction of appeal. (Cory v. Hamilton National Bank et aL, 31 Fed.Rep. (2d series) 379.)
Corporations—Corporation's pledge of bonds as collateral for short-term notes in-dorsed by its president and held by banks controlled by him held not fraudulent.
(U. S. C. C. A. 1929.) Corporation's pledge of its bonds as collateralsecurity for its short-term notes held by banks controlled by its president,who had personally indorsed such notes, who was secured on his indorse-ment by mortgage on corporation's property, and who was thereuponreleased from liability on his indorsement, held not to establish actualfraud, nor constructive fraud, under Kentucky law, though at the timeits financial condition wras unsatisfactory, and though it subsequentlybecame a voluntary bankrupt. (Ib.)
Corporations—Insolvent corporation can not give security to director for preexistingdebt by way of preference.
(U. S. C. C. A. 192S0 Without regard to the 4-months' bankruptcy limita-tion, an insolvent corporation, knowing that it can not prosecute itsbusiness and without hope of recovering from its financial embarrass-ments, can not give security to a director for preexisting debt by way ofpreference. (Ib.)
Corporations—Corporation may give security to director for preexisting debt, inabsence of insolvency or intent to defraud or delay other creditors.
(U. S. C. C. A. 1929.) In absence of insolvency, or of intent to hinder ordelay its other creditors, corporation may lawfully, subject to 4-months'bankruptcy limitation, give security to a director for a preexisteng debt,even though in the end it does thereby effectuate a preference. (Ib.)
Corporations—Corporation's president and general manager held authorized topledge corporation's bonds for antecedent indebtedness; ilto fund an indebtedness.>f
(U. S. C. C. A. 1929.) Where corporation issued bonds to fund preexistingindebtedness exceeding authorized bond issue, primary purpose beingto obtain a better interest rate and an extension, president of corporation,who under by-laws was chief executive officer and general manager ofcompany, held authorized to pledge such bonds as collateral for such in-debtedness, though words " to fund an indebtedness" ordinarily connotesconversion of a heterogeneous floating indebtedness into a long termobligation. (Ib.)
Evidence—Parol evidence was admissible to show that directors authorized presidentto pledge corporation's bonds to secure antecedent indebtedness.
(U. S. C. C. A. 1929.) Parol evidence was admissible to show that directorsauthorized president to pledge corporation's bonds to secure antecedentindebtedness, if they could not be sold. (Ib.)
Corporation, by accepting benefit of its president's pledge of its bonds to secure itsantecedent debtsy with knowledge of facts, ratified pledge.
(U. S. C. C. A. 1929.) Pledge by corporation's president of corporation'sbonds for its antecedent debt, if not authorized in advance, was ratifiedwhen corporation, with knowledge of transactions, accepted benefit ofrenewals of such indebtedness, extended on sole security of pledged bonds,and continuously recognized validity of pledges, even as late as filing ofits schedules in bankruptcy. (Ib.)
Corporations—That corporation's president pledged bonds authorized to be soldheld not "diversion" thereof, where bonds proved unsalable.
(U. S. D. C. 1927.) That president of corporation pledged corporation'sbonds, authorized for purpose of sale to satisfy corporation's floatingindebtedness, to that extent, held not to constitute "diversion" thereof
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from purpose for which issuance was authorized, where bonds proved tobe unsalable, except at a sacrifice, and possibly not even on that basis.(In re Federal Coal Co., 31 Fed. Rep. (2d series) 375.)
Corporations—Corporation's president held authorized, to pledge corporation'sbonds as collateral for its floating indebtedness, evidenced by short time paperindorsed' by him.
(U. S. D. C. 1927.) Where corporation issued its bonds for purpose ofsatisfying part of its floating indebtedness, most of which was due tobanks on short time paper, which, bore its president's personal indorse-ment, president being secured by unrecorded mortgage on corporation'srealty, held that president, who under by-laws was chief executive officerand general manager of company, had power to pledge bonds as collateralsecurity for such indebtedness when bonds proved unsalable. (Ib.)
Evidence—It ivas immaterial that corporation's minutes did not show president'sauthority to pledge bonds, parol evidence being admissible.
(U. S. D. C. 1927.) It was immaterial that corporation's minutes did notdisclose that authority had been given to its president to pledge corpora-tion's bonds as collateral security for corporation's floating indebtedness,but parol evidence was admissible to establish such fact. (Ib.)
Corporations—Corporation in financial difficulties held authorized to pledge itsbonds as collateral for floating indebtedness in absence of proof of insolvency,
(U. S. D. C. 1927.) Corporation held authorized to pledge its bonds ascollateral security for its floating indebtedness, in absence of evidencethat at time of pledge it was insolvent, where it was not so regarded byits principal owners, who were handling its affairs, and it was intendingand expecting to continue in business, though it was then in financialdifficulties. (Ib.)
Corporation's pledge of bonds as collateral for notes, indorsed by its president andheld by banks controlled by him, held not fraudulent.
(U. S. p . C. 1927.) In absence of showing of bad faith, corporation'spledge of its bonds as collateral security for its short term notes, heldby banks controlled by its president, who had personally indorsed suchnotes, who was secured on his indorsement by mortgage on corporation'sproperty, and who was thereupon released from liability on his indorse-ment, held not violative of Kentucky Statutes, section 1906, as beingfraudulent transfers, even though at time corporation's financial con-dition was unsatisfactory, but not hopeless, and though it subsequentlybecame a voluntary bankrupt. (Ib.)
COLLECTIONS
Bank receiving for collection and credit deposit certificate indorsed to it and creditingaccount of sender held not merely collection agent.
(U. S. C. C. A. 1929.) Where interest-bearing certificate of deposit was sentby one bank to another for collection and credit, indorsed to collectingbank, which immediately credited account of first bank with amount ofcertificate, including accrued interest, collecting bank, which became insol-vent, was not acting merely as collection agent. (Ashley State Bank ofAshley, N. Dak., v. City Nat. Bank of Bismarck, N. Dak., et al., 32 Fed.Rep. (2d series) 166.)
Insolvent bank's deposit balance in Federal reserve bank could be applied on checkssent through latter for collection, and accepted by former. {12 U. S. C. A., sees.248{m)r 860> 461-464; Federal reserve act, sees. 16, 19.)
(U. S. C. C. A. 1929.) Insolvent bank's reserve deposit balance in Federalreserve bank, in account maintained under Federal reserve act, section19 (12 U. S. C. A., sees. 461-464), could be applied on checks drawn oninsolvent bank, which Federal reserve bank had received for collectionunder clearance and collection system established under Federal reserveact, section 16 (12 U. S. C. A., sees. 248 (m), 360), where checks hadbeen forwarded to insolvent bank under agreement, and accepted by-such bank, and charged to accounts of drawers. (Federal ReserveBank of Richmond v. Early, 30 Fed. Rep. (2d series), 198.)
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Reserve bank held unauthorized to set off against insolvent bank's stock liability bal-ance due on checks sent for collection. {12 U. S. C. A., sec. 288.)
(U. S. C. C. A. 19^9.) Federal reserve bank held not entitled to set offbalance due from insolvent bank on checks sent through reserve bank forcollection against insolvent bank's stock liability under 12 U. S. C. A.,section 288, notwithstanding that insolvent bank had accepted checkssent for collection and charged them to accounts of drawers, since de-mands, to be set off against each other, must be mutual, and reserve bankwas not owner of checks, but merely agent for collection. (Ib.)
CONSOLIDATIONS
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TAXATION OF CONSOLIDATING BANKS 207
DEPOSITSGENERAL DEPOSITS 162APPLICATION OF DEPOSIT ON NOTE 162DEPOSIT OF TRUST FUNDS 163DEPOSIT OF STATE FUNDS 173DEPOSIT OF COUNTY FUNDS 164DEPOSIT OF CITY FUNDS 165CERTIFICATE OF DEPOSIT 166CROSS REFERENCES:
INSOLVENCY AND RECEIVERS—RIGHTS OF PERSONS MAKING DEPOSITS AFTER INSOLVENCY 172DEPOSIT OF STATE FUNDS 173SURETY ON BOND TO SECURE UNITED STATES DEPOSITS 174SURETY ON BOND TO SECURE STATE DEPOSITS 174SURETY ON BOND TO SECURE COUNTY DEPOSITS 175
OFFICERS—REPRESENTATION OF BANK BY OFFICERS—
LIABILITY OF BANK WHERE OFFICERS PARTICIPATED INSCHEME TO DEFRAUD DEPOSITOR 186
GENERAL DEPOSITS
Money deposited in bank becomes property of bank, and debtor and creditor relation-ship arises.
(U. S. D. C. 1928.) The general rule is that money deposited with a bankdoes not continue to be the property of depositor, but it becomes propertyof bank moment it is deposited, and depositor becomes creditor of the bank,and no trust exists in such cases. (Lebanon Iron Co. et al. v. Donnelly &Co. (Inc.), 29 Fed. Rep. (2d series) 411.)
APPLICATION OF DEPOSIT ON NOTE
Bankruptcy—Bank could apply bankrupt corporation1 s checking balance to indebted-ness on note, on basis company was insolvent, though debt was not due.- (Bankr.act, sec. 68a; 11 U. S. C. A., sec. 108 (a).
(11. S. C. C, A. 1929.) Bank held entitled to apply bankrupt corporation'schecking balance, accumulated in usual course of business, to its indebted-ness on recently renewed note, on learning that it was diverting insurancemoney, which it had promised to use for rebuilding its plant, to otherpurposes, upon basis that corporation was insolvent, though debt was notdue; right of set-off being preserved as to provable debts, whether due ornot, under bankruptcy act, section 68a, 11 U. S. C. A. section 108 (a).(Rupp. v. Commerce Guardian Trust & Savings Bank, 32 Fed. Rep. (2dseries) 234).
Bankruptcy—Bank could not apply on depositor's debts sums taken with such intentafter application of checking balance thereon.
(U. S. C. C. A. 1929.) Bank, applying balance of bankrupt corporation'schecking account on note to bank, held not entitled to apply to such noteand other notes sums subsequently offered for deposit, but taken withintention of so applying them, regardless of bankrupt's purpose. (Ib.)
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Banks waived banker's liens on bankrupt's deposits by agreeing to transfer of depositsto credit of committee appointed to manage bankrupt's affairs.
(U. S. C. C. A. 1928.) Banks held not authorized to credit deposits on noteswhich they held against bankrupt, where, on creation of committee tomanage affairs of bankrupt company, deposits no longer remained subjectto check of company; banks having waived banker's liens by agreeing totransfer of deposits, notwithstanding bankruptcy act, section 68 (11 U. S.C. A., sec. 108). (First Nat. Bank of Waco et al. v. Sheehy in re SouthBros. Trunk Co. 29 Fed. Rep. (2d series) 400.)
Bank has right to apply deposit to payment of depositor's matured indebtedness to it.(U. S. D. C. 1928.) By virtue of the right of set-off, when depositor becomes
indebted to bank, and debt becomes due and payable, bank has right toapply any deposits to payment of depositor's indebtedness. (LebanonIron Co. et al. v. Donnelly & Co. (Inc.), 29 Fed. Rep. (2d series) 411.)
Bank held entitled to charge against receivers1 general deposit receivers' certificateheld by it at maturity thereof.
(U. S. D. C. 1928.) Where receivers in active conduct of corporation'sbusiness made general deposit in bank in which proceeds of business weredeposited, bank, on maturity of receivers' certificate held by it, had rightto charge certificate to receivers' account, in absence of any restriction incertificate taking it out of general rule. (Ib.)
Bankruptcy—Bank may offset its loan against insolvent borrower's deposit, eitherby bookkeeping entry or by accepting insolvent's check, without acquiring u prefer-ence."
(U. S. D. C. 1927.) Generally a bank may offset amount of its loan againstdeposit standing to credit of an insolvent borrower, and if, instead ofmaking a bookkeeping entry to show offset, bank accepts insolvent'scheck against his own account in payment of the loan, such mere changein form does not make transaction a " preference." (Murray v. Corn Ex-change Bank, 31 Fed. Rep. (2d. series) 373). (Affirmed by" U. S. C. C. A.(no opinion rendered) in 31 Fed Rep. (2d series) 375.)
Bankruptcy—Bankrupt's payment of notes held by bank with checks, after cred-itors' committee directed him to cease paying debts, held not preferential.
(U. S. D. C. 1927.) Where, on direction of creditors' committee to make nofurther payment of insolvent's debts, except for current running expenses,insolvent notified bank not to pay any notes which might be presented forpayment, and thereafter made deposits in bank account under supervi-sion of creditors' committee, and subsequently paid its notes held by bankwith checks on said account, about two weeks before filing bankruptcypetition, held, that such payments to bank were not preferential, on theorythat accumulation of funds in deposit account was improper, where bankwas not represented at meeting of creditors. (Ib.)
Bankruptcy—Bank, holding bankrupt's notes amply secured, held not required toprotect general creditors as against owners of collateral in receiving payment ofnotes.
(U. S. D. C. 1927.) Where bankrupt's notes held by bank were amplysecured by collateral belonging to third persons, it was not bank's dutyto protect bankrupt's general creditors at expense of owners of collateral,by refusing to accept payment of notes by checks drawn on bankrupt'saccount in ordinary course of business about two weeks before bankruptcypetition was filed. (Ib.)
DEPOSIT OF TRUST FUNDS
Guardian and ward—Special deposit became deposit of B., as guardian of minors,covered by indemnity bond, where certificate of deposit was indorsed to minorsthrough guardian.
(U. S. C C A . 1929.) Special deposit in bank in name of deceased's estatebecame deposit of B., as guardian of minors, and was covered by indemnitybond guaranteeing repayment of deposits of B. as guardian, where courtof ordinary rendered judgment setting off such item to minors, and titlebecame vested by such judgment, and certificate of deposit was indorsedto minors through their guardian. (Independence Indemnity Co. v.Barber et al., 30 Fed. Rep. (2d series) 753.)
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Guardian and ward—Savings account became deposit of B., as guardian of minors\covered by indemnity bond, where representatives of deceased's estate notified bankto transfer account.
(U. S. C. C. A. 1929.) Savings account standing in name of deceasedbecame deposit of B., as guardian of minors, and was covered by indemnitybond guaranteeing repayment of deposits of B. as guardian, where courtof ordinary rendered judgment setting off such item to minors, and titlevested by such judgment, and representatives of deceased's estate notifiedbank to transfer savings account to B. as guardian, although no changewas made. (Ib.)
Guardian and ward—Where bond guaranteed repayment of deposits by guardian,it was immaterial how disputed items were carried on bank's books.
(U. S. C. C. A. 1929.) Where indemnity bond was given to guarantee re-payment of deposits of B., as guardian of minors, and disputed items weredeposits of guardian, it was immaterial how they were carried on booksof bank. (Ib.)
Surety can not claim subrogation, and compete with secured creditor in distributionof insolvent debtor's assets, until creditor is paid.
(U. S. C. C. A. 1929.) As respects right to participate in receiving dividendsfrom defunct bank, surety can not claim subrogation, and compete withsecured creditor in distribution of assets of insolvent debtor, until creditoris paid in full. (Ib.)
DEPOSIT OF COUNTY FUNDS
Bankruptcy—Pro rata distribution of dividends on debts existing at time of bank-ruptcy only is required.
(U. S. C. C. A. 1929.) Law requires pro rata distribution of dividends onsuch debts only as existed at time of bankruptcy. (Burnett et al. v. Bankof Duncan, 30 Fed. Rep. (2d series) 52.)
Bankruptcy—Action of bank officer and county treasurer in depositing misap-propriated county funds to personal account did not create "overdraft" whenaccounts were adjusted, authorizing bank's claim against officer's estate inbankruptcy.
(U. S. C. C. A. 1929.) Action of bank officer and county treasurer in credit-ing to his personal account at bank funds which he had misappropriatedfrom county, and for which county's claim against officer's estate inbankruptcy was properly allowed, which funds were transferred to officer'saccount as treasurer, and charged back against his personal account whendefalcations were discovered, did not create an " overdraft," authorizingbank's claim therefor against officer's estate in bankruptcy, since to allowclaim would in effect allow a double filing on the same debt, (Ib.)
Bankruptcy—County's participation in audit of accounts of bank officer and countytreasurer did not preclude claim against officer's estate in bankruptcy for misap-propriation of funds.
(U. S. C. C. A. 1929.) County, by participating in audit of books of bankofficer and county treasurer misappropriating funds of county, held notconcluded by finding of auditors that an overdraft existed in bank officer'spersonal account as regards right to assert claim for misappropriatedfunds against officer's estate in bankruptcy. (Ib.)
Fund deposited in bank becomes property of bank.(U. S. C. C. A. 1929.) Fund deposited in a bank becomes property of a
bank, and a transfer from one account to another in no way affects theownership of the fund. (Ib.)
Georgia statute declaring property of county depository bank bound for payment ofliabilities arising from breach of bond declares a lien. {Laws Ga. 1915, p. 233.)
(U. S. D. C , 1929.) Laws of Georgia, 1915, page 233, providing that prop-erty of county depository bank shall be bound for payment of all liabilityarising from breach of bond, declares a lien. (In re Blalock et al., 31 Fed.Rep. (2d series) 612.)
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Statute should not he given apparent literal meaning leading to unreasonable, extraor-dinary, unjust, or absurd consequences.
(U. S. D. C , 1929.) While court has no power of legislation, and must givenatural meaning to plain language of statute, notwithstanding resultinghardship, the general assembly's real intention should be sought, andstatute interpreted according to its real, rather than apparently literal,meaning, which would lead to such unreasonable, extraordinary, unjust,or absurd consequences as could not have been intended by legislature.(Ib.)
Bank held entitled to first claim or lien on choses in action pledged to it for moneyadvanced to bankrupt county depository. {Laws Ga. 1915, p. 2S3.)
(U. S. D. C , 1929.) Bankrupt county depository's correspondent bank heldentitled to first claim or Men on all notes, accounts, and choses in action,pledged to it for money advanced to depository, as against county'sclaim under Laws Georgia, 1915, page 233, whether correspondent bankhad title to or merely a lien on such choses, in view of Laws Georgia,1924, page 133 (Park's Ann. Civ. Code Supp. 1926, sec. 4270 (4)), declaringholder of lien, arising either from contract or by implication of law, aholder for value to extent thereof. (Ib.)
State highway department held entitled to prior payment from assets of bankruptcounty depository, except as to property pledged to correspondent hank. %Bankr.act, sec. 64b (5) (7); 11 U. S. C. A., sec. 104 (b) (5) (7).)
(U. S. D. C , 1929.) State highway department held entitled to priority ofpayment out of assets in hands of trustee for bankrupt county depositorybank under the prerogative right of preference recognized by the commonlaw of Georgia, except as to property pledged to correspondent bank, inview of act May 27? 1928, section 15, 11 U. S. C. A., section 104 (b) (7),defining term "person" in bankruptcy act, section 64b (5), 11 U. S. C. A.,section 104 (b) (5), as including the United States and the several Statesand Territories thereof. (Ib.)
DEPOSIT OP CITY FUNDS
Reference—Referee's' findivigs and conclusions are conclusive, in absence of motionfor new trial, if reference was made under Kansas law, but not if made undercommon law. '{Rev. St. Kan., 1928, 60—2924.)
(U. S. D. C.r 1928.) In absence of motion for new trial, referee's fact find-ings and conclusions of law are conclusive on court, which can not hear orconsider exceptions thereto, under Kevised Statutes Kansas, 1923, 60—2924, if reference was made under Code of such State, but, if made undercommon law, court must rule on exceptions and declare law of case injudgment. (City of Parsons v. Fidelity & Deposit Co., Same v. Nat'l.Surety Co., 29 Fed. Rep. (2d series) 417.)
Depositaries—City depository is liable for any neglect of duty causing loss to city,as in paying out money in unauthorized manner. (Rev. St. Kan., 1923,13—2107.)
(U. S. D. C , 1928.) City treasurer's deposit of city's moneys in depositoriesduly selected by city commissioners, as provided by Revised Statutes Kan-sas, 1923, 13—2107, establishes ordinary relation of debtor and creditor be-tween depository and city, and depository is liable on its contract and anystatutory bond given by it for any neglect of duty occasioning loss to city,as in failing to pay out money due it in manner provided by law. (Ib.)
Depositaries—City depository, paying in unauthorized manner money employed todischarge city's- valid debts is protected, but has burden of proof. (Rev. St. Kann1923, 13—-2107.)
(U. S. D. C , 1928.) City depository, paying out in manner not authorizedby Revised Statutes Kansas, 1923, 13—2107, city money employed todischarge valid and due debts of city, would be protected, as such paymentwould be simply damnum absque injuria; but burden of making such proofwould rest on depository. (Ib.) «
Municipal corporations—Sureties on city treasurer's bond are not liable for lossescaused by commissioners' failure to take bonds from depositories. (Rev. St. Kan,,1923, 18—2107.)
(IT. S. D. C , 1928.) Sureties on bonds, given by city treasurer underRevised Statutes Kansas, 1923, 13—2107, are not liable for loss of city'smoneys because of city commissioners' failure to take bonds from deposi-tory banks, as required by such act. (Ib.).
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CERTIFICAT B OF DEPOSIT
Bank was precluded from setting up CQ lier's lack of authority to issue certificateof deposit as against bona fide holder w% hout notice of irregularity.
(U. S. C. C. A., 1929.) Bank was precluded from claiming want of authorityof cashier to issue certificate of deposit on ground that no deposit had infact been received, as against holder in due course of certificate withoutnotice that there was any irregularity in issuance of certificate, notwith-standing the fact that cashier fraudulently abused his authority in wrong-fully issuing certificate without receiving deposit. (People's Bank ofKeyser, W. Va., v. International Finance Corporation, 30 Fed. Rep. (2dseries) 46.)
Batik's certificate of deposit constitutes in effect a promissory note.(U. S. C. C. A., 1929.) A certificate of deposit issued by a bank constitutes
in effect a promissory note. (Ib.)
DIVIDENDS Page.STOCK DIVIDENDS 166DIVIDENDS DECLARED FOR PURPOSE OF ORGANIZING AN AFFILIATED
CORPORATION 166
STOCK DIVIDENDS
Stock dividend on trusteed stocks is an accretion of capital and not income.(U. S. Sup. 1890.) Under a will bequeathing stock in a corporation and
Government bonds, in trust to pay " the dividends of said stock and theinterest of said bonds as they accrue" to a daughter of the testator "duringher lifetime, without percentage of commission or dimunition of principal,"and directing that upon her death " the said stocks, bonds, and incomeshall revert to the estate" of the trustee, "without incumbrance or im-peachment of waste," a stock dividend declared by a corporation whichfrom time to time, before and after the death of the testator, has investedaccumulated earnings in its permanent works and plant, and which, sincehis death, has been authorized by statute to increase its capital stock, isan accretion to capital, and the income thereof only is payable to thetenant for life. (Gibbons v. Mahon, 136 U. S. 549.)
Courts—Pennsylvania rule relating to apportionment of stock dividends betweenlife tenant and remaindermen is a rule of property binding on Federal courts.
(U. S. D. C. 1929.) Rule followed by Pennsylvania courts that stock divi-dends must be apportioned between life tenant and corpus of trust, bygiving the corpus sufficient to keep intact the value of the shares of stockas they were at time trust began and by giving rest of dividend to thoseentitled to income, is a rule of property binding on Federal courts in acase involving a trust under a will probated in Pennsylvania. (Pierre-pont v. Fidelity-Philadelphia Trust Co. et al., 32 Fed. Rep. (2d series)608.)
DIVIDEND DECLARED FOR THE PURPOSE OF ORGANIZING AN AFFILIATED COR-PORATION
Internal revenue—Dividend declared by national bank, to be applied to purchasestock in trust company organized to transact business in which bank could notengage, held taxable "income." {Revenue act 192 4, sec. 203 (c), (h); 26 U. 8.C. A. sec. 934 (c), (h); National banking act; 12 U. S. C. A. sees. 21-200.)
(U. S. C. C. A. 1929.) Ten per cent dividend, declared by national bank, tobe applied to purchase of stock in trust company to be organized totransact business in which bank could not engage under national bankingact (12 U. S. C. A. sees. 21-200), held taxable "income," as against con-tentions that by reason of trust under which trust company's stock wasplaced, taxpayer received nothing in nature of income, and that transactionconstituted reorganization* of national bank, within revenue act 1924,section 203 (c), (h), 26 U. S. C. A. section 934 (c), (h). (Lonsdale v.Commissioner of Internal Revenue, 32 Fed. Rep. (2d series), 537.)
Internal revenue—Substance, not form, should control in applying sixteenth amend-ment and income tax laws. (Const. Amend. 16.)
(U. S. C. C. A. 1929.) Substance, and not form, should control in appli-cation of constitutional amendment 16 and income tax laws enactedunder it. (Ib.)
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Whether drawer bank was negligent with reference to drawee's payment of draftson unauthorized indorsements of payee's agent was question of fad.
(U. S. C. C. A. 1929.) Even if drawer bank owed drawee bank any dutyto object to payment of drafts bearing unauthorized indorsements bypayee's agent similar to indorsements on drafts on which drawer soughtto recover from drawee, which paid them on such unauthorized indorse-aents, whether drawer was negligent with reference thereto was a question
of fact. (Continental Nat. Bank & Trust Co. of Chicago v. Olney Nat.Bank, 33 Fed. Rep. (2d Series), 437.)
Appeal and error—District court's determination of fact question, where jury waswaived, could not be reviewed on appeal.
(U. S. C. C. A. 1929.) District court's determination of question of fact,where jury was waived, was not open for reconsideration by CircuitCourt of Appeals. (Ib.)
Drawer bank owes drawee bank no duty with reference to indorsements.(U. S. C. C. A. 1929.) Drawer bank owes drawee bank no duty with
reference to indorsements. (Ib.)Draft, drawn to order, is not payable at all, until properly indorsed by payee.
(TJ. S. C. C. A. 1929.) A draft, drawn to order, is not payable at all untilit is properly indorsed by payee. (Ib.)
That checks received for drafts were worthless held not to defeat drawer bank's rightsto recover from drawee bank for paying drafts on unauthorized indorsements ofpayee's agent.
(U. S. C. C. A. 1929.) That drawer bank issued drafts to payee's agentfor agent's worthless checks held not to defeat its right to recover fromdrawee bank for paying drafts on said agent's unauthorized indorsements.(Ib.)
Bills and notes—Intention of drawer determines whether drafts are payable to bearer,because made to living person not intended to have interest therein. {NegotiableInstrument Law III. sec. 9.)
(TJ. S. C. C. A. 1929.) Negotiable instrument law, Illinois, section 9 (CahilTsRev. St. 1927, ch. 98, par. 29), provides that instrument is payable tobearer when it is payable to order of a person known by drawer or makerto be fictitious, or of a living person not intended to have any interest init, held, that it is intention of drawer, and not intention of one who pro-cures drafts to be issued, and who was neither drawer, drawee, nor payee,which determines whether instrument is payable to bearer, becausepayable to living person not intended to have interest in it. (Ib.)
Bills and notes—Drawer's intention respecting interest payee was to have in drafts,as to whether drafts were payuble to bearer, held fact question. (Negotiableinstrument law, III., sec. 9.)
(U. S. C. C. A. 1929.) What was drawer's intention with reference tointerest, if any, that payee was to have in drafts obtained from drawerby payee's agent, on issue whether such drafts were payable to bearerunder negotiable instrument law, Illinois, section 9 (Cahill's Rev. St.1927, ch. 98, par. 29), because payable to order of living person notintended to have any interest in the drafts, was question of fact. (Ib.)
Interest—Interest is allowable ivithout agreement on money advanced, on moneydue on settlement of account, on money received to another's use and retainedwithout owner's knowledge, and on money unreasonably withheld. (Interestact, III., sec. 2.)
(U. S. C. C. A. 1929.) Under interest act, Illinois, section 2 (Cahill's Rev.St. 1927, ch. 74, par. 2), interest is allowable without agreement on moneylent or advanced for the use of another, on money due on settlement ofaccount from day of liquidating accounts between parties and ascertainingbalance, on money received to use of another and retained without owner'sknowledge, and on money withheld by an unreasonable and vexatiousdelay of payment. (Ib.)79003°—30 12
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Interest—Whether drawee hank was liable for vexatious delay in refusing to payto drawer amount of drafts paid on unauthorized indorsements held fact question.(Interest actr III., sec. 2.)
(XL S. C. C. A. 1929.) Wliether drawee bank, found to be liable to drawerbank for paying drafts on unauthorized indorsements of payee's agent,was liable for interest under interest act, Illinois, section 2 (CahilFs Rev.St. 1927, ch. 74, par. 2), as for vexatious delay, presented a question offact. (Ib.)
Qefendant, issuing letter of credit to plaintiffs, held estopped to claim variance inshipping documents accompanying drafts, where reason previously assignedfor nonpayment was pending injunction.
(U. S. C. C. A. 1928.) Defendant, issuing letter of credit authorizingplaintiffs to draw on bank against bills of lading, held estopped to assertthat descriptive terms used in invoices and shipping documents variedfrom those called for by letter of credit, where plaintiff had refused pay-ment on sole ground of pending injunction, with result that plaintiffwas led to assume that the shipping documents were in proper form.(Lamborn et al. v. Cleveland Trust Co., 29 Fed. Rep. (2d series) 46.)
Estoppel—One assigning reason for conduct may not alter position to other party'sinjury after situation has changed.
(U. S. C. C. A. 1928.) One who has given a reason for his conduct touchinga matter in controversy will not be permitted, after the situation of theparties has changed, to change his position on the matter to the injuryof the other party by assigning a different reason. (Ib.)
FOREIGN BANKING CORPORATIONSCROSS REFERENCES:
BRANCH BANKS— PageBRANCH BANKS IN FOREIGN COUNTRIES 157
Federal Reserve Board must exercise discretion respecting approval or disapprovalof articles of association of foreign banking corporation; "approved.99 (12U. S. C. A.y sees. 611-681.)
(D. C. App. 1929.) Federal reserve act, section 25 (a), added by act Decem-ber 24, 1919 (12 U. S. C. A., sees. 611-631), authorizing organization ofcorporations to engage in international or foreign banking, but providingthat association formed thereunder shall not become body corporate untilarticles of association and organization certificate have been approved byFederal Reserve Board and after board has issued permit to it to beginbusiness, imposes duty on Federal Reserve Board of exercising its judgmentand discretion with respect to approval or disapproval of such articles;word " approved" importing exercise of judgment and discretion, andpower to approve ordinarily implying power to disapprove. (Apfel et al.v. Mellon et al., Federal Reserve Board, 33 Fed. Rep. (2d series) 805.)
Statutes—Consistent use of term in certain sense in statute in pari materia is per-suasive as to its meaning.
(D. C. App. 1929.) The consistent use of the same term in certain sense instatutes in pari materia is persuasive that it was used in same sense instatute being construed. (Ib.)
Mandamus—Mandamus does not lie to control Federal Reserve Board's discretionin refusing to approve articles of incorporation of foreign banking corporation.(12 U. S. C. A., sees. 611-631.)
(D. C. App. 1929.) Mandamus will not lie to control the exercise of FederalReserve Board's discretion in refusing to approve articles of incorporationand organization certificate to permit relators to begin business as a bodycorporate for purpose of engaging in business of international or foreignbanking under Federal reserve act, section 25 (a), added by act December24, 1919 (12 U. S. C. A., sees. 611-631). (Ib.)
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FORGED OR ALTERED PAPERInsurance—Forged signature, below signature of maker of note, held not signature
of "indorser" within hankers' blanket forgery policy.(U. S. D. C. 1928.) Forged signature, appearing below name of maker on
note, which recited, "I , we, or either of us, promise to pay," held on itsface signature of joint maker, under negotiable instruments law Penn-sylvania section 17 (Pa. St. 1920, sec. 16004), and can not be held underany consideration to be that of "indorser," within provision of bankers'blanket forgery insurance policy covering forgery of signature of indorserof checks, drafts, notes, or trade acceptances. (Grange Trust Co. ofHuntingdon, Pa., v. American Surety Co. of New York, 30 Fed. Rep.(2d series) 445.)
Insurance—Intention of all parties that signature in place for makers' signatures isindorsement can not affect liability of forgery insurer.
(U, S. D. C. 1928.) Though a signature on face of note at place providedfor makers* signatures may be held to be an indorsement, it must beshown that it was intention of all parties that said signature was intendedas an indorsement, and such understanding between parties can not affectliability of insurer under bankers' blanket forgery insurance policy. (Ib.)
Insurance—Provision of policy insuring against forged indorsements could not beinterpreted to cover forgery of name of maker or accommodation maker of note.
(U. S. D. C. 1928.) Provision of bankers' blanket forgery and alterationinsurance policy, insuring trust company against loss from forged indorse-ments on checks, notes, and drafts, could not be interpreted to cover theforgery of name of maker or accommodation maker. (Ib.)
Evidence—Parol evidence is inadmissible to show that forged signature under signa-ture of maker of note is indorsement. (Negotiable instruments act, Pa., sec. 17(Pa. St. 1920, sec. 16004).)
(U. S. D. C. 1928.) Parol evidence is not admissible to establish that forgedsignature below that of maker on note is a forged indorsement, undernegotiable instruments act, Pennsylvania, section 17 (Pa. St. 1920, sec.16004), providing that, where instrument containing words " I promise topay" is signed by two or more, they are deemed to be jointly and severallyliable. (Ib.)
Bills and notes—Liability on notes bearing forged indorsements arose on impliedwarranty of genuineness.
(U. S. C. C. A. 1929.) Liability of bank exchanging Victory notes withforged indorsements for coupon bonds arose upon an implied warrantyof the genuineness of notes, and was not conditioned upon either demandor giving notice after discovery of the forgeries. (Ladd & Tilton Bankv. United States, 30 Fed. Rep. (2d series) 334.)
United States—Government's failure to notify bank exchanging Victory notes withforged indorsements after discovery of forgery held defense under circumstances.
(U. S. C. C. A. 1929.) Where Government, after discovering forgery ofindorsements on Victory notes for which it had theretofore exchangedcoupon bonds, failed to notify bank effecting exchange of such forgeriesfor period of approximately 19 months, resulting in injury to bank byreason of insolvency and liquidation of bank from whom it had receivednotes, the Government's failure to give timely notice of forgery constituteda defense, notwithstanding that right of action rested on implied warranty.(Ib.)
United States— United States suing to recover money paid on forged instrument issubject to same rules applicable to litigants generally.
(U. S. C. C. A. 1929.) Though statute of limitation does not run againstright of action in favor of Government, nevertheless, where right of actionis for recovery of money paid on forged instrument, United States issubject to same rules as litigants generally. (Ib.)
Bills and notes—One liable on forged instrument may defend on ground that delayin notice or demand after discovery of forgery has worked injury.
(U. S. C. C. A. 1929.) Though mere right of action is not affected by delayin demand or notice, defendant, otherwise liable because of money or
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property obtained on forged bill, note, or other instrument, may defendon ground that delay in notice or demand after discovery of forgery hasworked injury. (Ib.)
Costs—Government witnesses held entitled only to traveling expenses necessarily in"curred within district. (28 U. S. C. A. sec. 6O4.)
(U. S. C. C. A. 1929.) Government witnesses held not entitled, under Re-vised Statutes, section 850 (28 U. S. C. A., sec. 604), to recover travelingexpenses except those necessarily incurred for travel and maintenancewithin district. (Ib.)
INSOLVENCY AND RECEIVERSPage
ALL ASSETS OF INSOLVENT BANK PASS TO RECEIVER 170ACTIONS BY RECEIVERS 170ACTIONS AGAINST RECEIVERS:
JURISDICTION 172RIGHTS OF PERSONS MAKING DEPOSITS AFTER INSOLVENCY 172PREFERENCES BETWEEN BANKS 173DEPOSIT OF STATE FUNDS 173SURETY ON BOND TO SECURE UNITED STATES DEPOSITS 174SURETY ON BOND TO SECURE STATE DEPOSITS 174SECURITY ON BOND TO SECURE COUNTY DEPOSITS ^ 175STATE NOT ENTITLED TO PRIORITY UNDER COMMON LAW 175DEPOSITS OF PUBLIC MONEY EXCEEDING STATUTORY LIMIT IS A TRUST
FUND 176BANKS' TRANSFER OF ASSETS TO SECURE SURETIES 177ACTIONS AGAINST SHAREHOLDER'S AGENT 177INSOLVENT JOINT STOCK LAND BANK 177INSOLVENT STATE BANK 178INSOLVENT PRIVATE BANK 179CROSS REFERENCES:
COLLECTIONS—APPLICATION OF INSOLVENT BANK'S DEPOSIT WITH FEDERAL
RESERVE BANK ON CHECKS SENT FOR COLLECTION 161OFFICERS, CIVIL LIABILITY OF—
RECEIVER'S SUIT AGAINST DIRECTORS 191SHAREHOLDERS—
ASSESSMENT OF SHAREHOLDERS 202ALL ASSETS OF INSOLVENT BANK PASS TO RECEIVER
When national bank becomes insolvent and is taken over'by comptroller and placedin receiver's hands, its assets pass to receiver's control.
(U. S. C. C. A. 1929.) When national bank becomes insolvent and is takenover by comptroller of currency and placed in hands of a receiver, all itsassets pass to control of the receiver. (Anderson et al. v. Cronkleton,32 Fed. Rep. (2d series) 170.)
ACTIONS BY RECEIVERS
Action—Action by or against receiver to establish demand is one at law.(U. S. C. C. A. 1928.) An action by or against a receiver to establish a
demand is an action at law, rather than in equity. (Dykes v. Widdowset al., 31 Fed. Rep. (2d series) 745.)
On petition for rehearing—Receiver, in action against him on claim, was entitledto set-off or counterclaim by reason of claim against plaintiff's assignor. (Equityrule 30.)
(U. S. C. C. A. 1929.) Under equity rule 30, providing that an answermay contain, without cross-bill, a set-off and counterclaim which mightbe the subject of an independent suit in equity, receiver for insolvent bankwas entitled, in action against him on a claim, to set-off or counterclaimby reason of claims of bank against plaintiff's assignor, so as to enablecourt to pronounce a final judgment in the same suit. Petition for re-hearing denied (Dykes v. Widdows et al., 31 Fed. Rep. (2d series) 745.)
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Appeal and error—Nonjoinder of parties appellant is jurisdictional question, whichwill be considered, though not raised by counsel.
(U. S. C. C. A. 1929.) The question of lack of joinder of parties appellantis jurisdictional, and will be considered, though it has not been raised by-counsel. (Federal Intermediate Credit Bank of Omaha v. L'Herisson(two cases), 33 Fed. Rep. (2d Series) 841.)
Appeal and error—Judgment against both answering and defaulting defendantsheld several in nature, so as to authorize appeal by answering defendant alone.
(U. S. C. C. A. 1929.) Judgment against two defendants, one of whom madedefault, held essentially several in its nature, though joint in form, so as toauthorize appeal by answering defendant alone. (Ib.)
Appeal and error—Appellate court will not reverse judgment in law action, triedwithout jury, for error of fact, such as finding contrary to weight of evidence.{28 U. S. C. A. sees. 773, 875, 879.)
(U. S. C. C. A. 1929.) When action at law is trial to Federal court withouta jury, the questions open for review in appellate court are limited byRevised Statutes, sections 649, 700, 1011 (28 U. S. C. A. sees. 773, 875, 879),and appellate court will not reverse judgment for error of fact, such asfinding contrary to weight of evidence. (Ib.)
Appeal and error—Party urging lack of substantial evidence to support findings andjudgment must move for judgment on such ground, request such declaration of law,or take equivalent step, secure ruling, and take exception.
(U. S. C. C. A. 1929.) Party seeking review of question whether recordcontains any substantial evidence to support findings and judgmentagainst him must move for judgment in his favor on such ground, requestdeclaration of law to that effect, or take some other equivalent step, secureruling by trial court, and take exception thereto. (Ib.)
Appeal and error—Party desiring review of admissibility of evidence should objector offer proof at proper time on trial, state ground therefore, and secure ruling.
(U. S. C. C. A. 1929.) Party desiring review of question of admissibilityof evidence should make objection or offer proof at proper time on thetrial, state the ground therefor, and secure a ruling of the trial court.(Ib.)
Courts—Assignments of error relating to admissibility of evidence must conform tocourt rules. (Circuit Court of Appeals rules 11, 24--)
(U. S. C. C. A. 1929.) Assignments of error relating to the admissibilityof evidence must conform to Circuit Court of Appeals, rules 11, 24. (Ib.)
Evidence in national bank receiver's action for conversion of notes held to supportfinding that they were transferred to defendant bank to secure notes discounted bycorporation.
(U. S. C. C. A. 1929.) In national bank receiver's action against Federalcredit bank for conversion of collateral notes, evidence held sufficient tosupport trial court's finding that alleged collateral agreement was made,and that notes belonging to insolvent bank were turned over to defendantfor purpose of securing notes discounted by corporation with defendant.(Ib.)
Evidence held to support finding that national bank was insolvent to knowledge ofFederal credit bank at time of transferring notes to latter as security for notes dis-counted by corporation.
(U. S. C. C. A. 1929.) In national bank receiver's action against Federalcredit bank for conversion of collateral notes, evidence held sufficient tosupport trial court's finding that national bank was insolvent to defendantbank's knowledge at time of turning over notes to defendant as securityfor notes discounted with latter by corporation. (Ib.)
National bank can not lend credit to another. {12 U. S. C. A. sec. 24--)(U. S. C. C. A. 1929.) Under Revised Statutes, section 5136 (12 U. S. C. A.
sec. 24), a national bank, even though solvent, can not lend its credit toanother. (Ib.)
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Insolvent national bank can not pledge assets as collateral to another's debt. (12U. S. C. A., sec. 91.)
(U. S. C. C. A. 1929.) Under Revised Statutes, section 5242 (12 U. S. C. A.sec. 91), a national bank can not pledge its assets while involvent ascollateral to the debt of another. (Ib.)
"Insolvency" within statute prohibiting transfer of insolvent national bank's assets,consists in inability to meet obligations in ordinary course of business as theyaccrue. (12 U. S. C. A. sec. 91.)
(U. S. C. C. A. 1929.) ' 'Insolvency" within Revised Statutes section 5242(12 U. S. C. A. sec. 91), prohibiting transfers of national bank's assets aftercommission of act of insolvency or in contemplation thereof with view topreference of one creditor, consists in inability to meet obligations inordinary course of business as they accrue. (Ib.)
Deposit of collections by credit corporation held not trust fund, left in bank in con-sideration of its transferring notes belonging to it to another bank as security fornotes discounted with latter by such corporation.
(U. S. C. C. A. 1929.) Deposit in national bank of collections made bycredit corporation held not a trust fund, left in bank in consideration ofits turning over notes belonging to it to Federal credit bank as securityfor notes discounted therewith by credit corporation, where collectionswere not traced into assets of depository bank on date of collateral agree-ment and no specified minimum amount of cash was shown to be on handtherein from time collections were made until date of such agreement.(Ib.)
ACTIONS AGAINST RECEIVERS
JURISDICTION
District Court of district in which a national bank is located held to have jurisdictionof a suit by stockholders, on a cause of action inuring in the bank, to enjoin theComptroller and his receiver (Judicial Code, Sec. 2^ subd. 16, and section 4-9(Comp. St. Sees. 991, 1031).
(U. S. D. C. 1926.) Judicial Code, Section 24, subdivision 16, and section49 (Comp. St. Sees. 991, 1031), giving District Courts jurisdiction of suitsby national banks to enjoin the Comptroller or any receiver, and provid-ing that such a suit shall be in the district where the bank is located heldto extend to a suit by stockholders of an insolvent national bank, onbehalf of themselves and all other stockholders, to enjoin the Comptrollerand his receiver from making an alleged collusive compromise of a suitagainst the directors. (Wegman et al. v. Hulse et al. 13 Fed. Rep. (2dseries) 206.)
When demand on directors not necessary.(U. S. D. C. 1926.) Where interests of directors are antagonistic, demand
on them is not necessary, as preliminary to suit by stockholders. (Ib.)Suit by stockholders against Comptroller and receiver of national bank held to involve
Federal question.(U. S. D. C. 1926.) A suit by stockholders of an insolvent national bank,
to enjoin the Comptroller and receiver from making an alleged collusivecompromise of a suit against the directors, held to involve a Federal ques-tion, and within the jurisdiction of a Federal court, regardless of citizen-ship of parties. (Ib.)
RIGHTS OF PERSONS MAKING DEPOSITS AFTER INSOLVENCY
Depositor may reclaim deposit received by hopelessly insolvent bank with knowledgeof insolvency.
(U. S. D. C. 1928.) Where bank is hopelessly insolvent and receives depositwith knowledge of insolvency and fails, there is such fraud on depositorthat he may rescind contract of deposit and reclaim amount deposited, orits proceeds, if traced into assets of bank going into hands of receiver.(Holloway v. Dykes, 29 Fed. Rep. (2d series) 430.)
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Whether title to check deposited in bank passes to bank depends on intention ofpartieSf which may be ascertained from course of conduct.
(U. S. D. C. 1928.) Whether title to check passes to bank in which it isdeposited must be determined by ascertaining intention of parties, but-such intention may be ascertained from consideration of course of conductor ordinary course of business. (Ib.)
Where depositor received credit in amount of checks deposited with privilege ofchecking against it, intention may be implied that title to deposited checks passedto bank.
(XL S. D. C. 1928.) Where depositor has ordinarily received credit inamount of checks deposited with privilege of checking against it, it maybe implied from circumstances that it was intention that title to depositedchecks passed to bank. (Ib.)
Depositors of checks for collection in bank known by officers to be insolvent mayrecover proceeds collected by receiver.
(U. S. D. C. 1928.) Where customer of bank deposits checks for collectionwhen bank is insolvent and known to be so by officers, and such checksare not collected when bank closes doors, they remain property of de-positors, though indorsed to bank without qualification, and on subsequentcollection by receiver proceeds may be recovered by depositors. (Ib.)
PREFERENCES BETWEEN BANKS
Assignments—Bank's delivery of currency held not equitable assignment, entitlinglending bank to preference on borrowing bank's insolvency, where latter's financialcondition was not made known.
(U. S. C. C. A. 1929.) Bank's delivery of currency to another bank in returnfor draft drawn on third bank held not to constitute equitable assignment,so as to give the lending bank preferred claim for currency delivered, oninsolvency of borrowing bank, where borrowing bank's financial embar-rassment was not made known to the lending bank. (Scharnberg et al.v. Citizens' Nat. Bank of Spencer, Iowa, et al. 33 Fed. Rep. (2d series)673.)
Assignments—Single party's knowledge does not warrant inference of intention ofboth that check shall be paid from particular fmid.
(U. S. C. C. A. 1929.) Intention on part of both parties that check shall bepaid out of particular fund can not be inferred from knowledge of one ofparties. (Ib.)
Lending bank} to establish preferred claim, must prove borrowing bank was insolvent,and that insolvency was known to its officers.
(U. S. C. C. A. 1929.) Bank transferring currency to borrowing bank inreturn for draft on third bank, to establish a preferred claim under trustfund theory, on ground of fraud of borrowing bank, was required to prove,not only that the borrowing bank at the time of receiving the funds wasinsolvent, but that its insolvency was known to its officers. (Ib.)
Preferred claim against borrowing bank was properly disallowed, where its officersat time of loan were attempting to negotiate loan from Federal reserve bank.
(U. S. C. C. A. 1929.) In suit by lending bank to establish preferred claimagainst borrowing bank for amount of loan, finding of trial court thatpreference under trust fund theory was not established was proper, whereofficers of borrowing bank at the time were attempting to negotiate aloan from the Federal reserve bank, since this fact was inconsistent withknowledge on their part that bank was insolvent, though they segregateddeposits received on day of procuring loan. (Ib.)
DEPOSIT OF STATE FUNDS
National bank held trustee ex maleficio of deposits of State funds by bank's president,exceeding statutory limit, so that Stale may follow such deposits after'bank's in-solvency and take in preference to other creditors. (Rural credits act S. Dak.)
(U. S. D. C. 1927.) Where president of bank as treasurer of State ruralcredit board made deposits in his bank exceeding those permitted by stat-ute, Revised Code, South Dakota, 1919, section 10170, and section 10150
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et seq., bank became trustee ex maleficio as to excess deposits, for useand benefit of State, and on its insolvency, such deposits may be followedby State and taken in preference to other creditors, especially in view ofsection 10167. (State of South Dakota v. Fiman, 29 Fed. Rep. (2dseries) 770.)
Estoppel—State can not be estopped by unauthorized acts of agents or officers (Rev*Code, S. Dak., 1919, sec. 10170).
(U. S. D. C. 1927.) State can not be estopped by unauthorized, illegal, orfraudulent acts of its agents or officers any more than it, through its officers,can ratify such unauthorized, wrongful or illegal acts, such as deposit offunds in bank in amount exceeding statutory limit under Revised Code,South Dakota, 1919, section 10170. (Ib.)
States—State is not liable to individuals for misfeasance, laches, or unauthorizedexercise of power by officers or agents.
(U. S. D. C, 1927.) Whether transaction is private or governmentalfunction, State does not hold itself liable to individuals for misfeasance,laches, or unauthorized exercise of power by officers and agents; but in-dividuals as well as courts take notice of extent of authority conferred bylaw on person acting in official capacity. (Ib.)
State of South Dakota may, in exercise of sovereign prerogative, enforce against bankreceiver preference to funds held in trust for it.
(U. S. D. C. 1927.) Under statute providing that common-law rules areenforced, except where they conflict with will of sovereign power, Stateof South Dakota may enforce preference as against receiver of bank tofunds held in trust for it, in exercise of its sovereign prerogative. (Ib.)
SURETY ON BOND TO SECURE UNITED STATES DEPOSITS
Surety held entitled to priority against assets of insolvent bank for amount paidUnited States on depository bond (31 U. S. C. A. sees. 191, 193).
(U. S. D. C. 1929.) Under the express provisions of Revised Statutes sec-tions 3466, 3468 (31 U. S. C. A. sees. 191, 193), surety on bond of bank tosecure United States deposits is entitled to priority of claim against assetsof insolvent bank in amount paid by it on such bond. (National SuretyCo. v. Oswego State Bank of Oswego, Kans., et al., 33 Fed. Rep. (2dseries) 221.)
SURETY ON BOND TO SECURE STATE DEPOSITS
Surety on insolvent bank's bond to pay State treasurer's deposits held not entitledto dividends, equal in percentage to amount paid other creditors, under indemnitycontract.
(U. S. C. C. A. 1929.) Surety paying State treasurer amount of insolventbank's bond for payment of treasurer's deposits held not entitled, underindemnity contract, to payment of dividends-by bank's receiver to amountequal in percentage to that paid other creditors; treasurer's deposit beingonly debt, payment of which discharged bank's obligation to surety aswell as to treasurer. (Fouts v. Maryland Casualty Co., 30 Fed. Rep.(2d series) 357.)
Law requires pro rata distribution of dividends only on debts existing when insolventbank was suspended.
(U. S. C. C. A. 1929.) The law requires pro rata distribution of dividendson such debts only as existed at the time of insolvent bank's suspension.(Ib.)
Principal and surety—Bank's agreement to indemnify surety on its bond for pay-ment of State treasurer's deposits added nothing to bank's obligations or surety'srights.
(U. S. C. C. A. 1929.) Bank's agreement to indemnify surety on its bond forpayment of State treasurer's deposits did not obligate bank any further,nor give surety any greater rights, than law would have done in absenceof such agreement, with possible exception of attorney's fees and expenses;there being implied obligation, in absence of contrary agreement, thatprincipal will indemnify surety against loss. (Ib.)
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Courts—Holdings that surety on bank's bond for payment of deposits can not recoverfrom receiver on bank's indemnity agreement held not obiter dicta.
(U. S. C. C. A. 1929.) Circuit Court of Appeals' holding that surety oninsolvent bank's bond for payment of State treasurer's deposits could notrecover from receiver on indemnity agreement with bank, and SupremeCourt's holding that filing of similar claim against bank would result indouble proof detrimental to its other creditors, held not obiter dicta; itbeing both proper and necessary to ascertain what rights surety had inreaching conclusion as to whether it had certain right. (Ib.)
Courts—United States Supreme Court dicta are very persuasive.(U. S. C. C. A. 1929.) Dicta of the United States Supreme Court are very
persuasive. (Ib.)Subrogation—Until payment of general creditors, surety on bank's bond to pay
State treasurer's deposits held entitled only to subrogation to treasurer's rightsagainst bank's receiver.
(U. S. C. C. A. 1929.) Where bank had agreed to indemnify surety againstloss on its bond for payment of State treasurer's deposits up to amountwhich surety paid treasurer, the only right which surety had, until generalcreditors were paid, was to be subrogated to the treasurer's rights againstthe bank's receiver, and to receive all dividends payable to the treasurer,over and above amount added to surety's payment on bond, necessaryto satisfy his claim. (Ib.)
SURETY ON BOND TO SECURE COUNTY DEPOSITS
A surety for part of an indebtedness does not, through the expedient of taking aseparate indemnity agreement from the debtor, equip himself to compete with thesecured creditor in the distribution of the debtor's assets when the debtor becomesinsolvent and the surety's obligation has been paid. »
(U. S. Sup. 1928.) A surety company went on the bond furnished by abank to secure repayment on demand of the deposits of a county treasurerup to a specified amount, and, as part consideration for executing the bond,took the bank's agreement to indemnify it for any liability it might there-by sustain or incur. The bank became insolvent while holding depositsof the treasurer exceeding the amount of the bond, and the surety, havingpaid that amount, sought to participate pro rata with him and his suretyin the distribution of surplus assets of the bank, basing its claim on theindemnity agreement. Held—
1. That a former judgment denying the surety the right to be subrogatedto the creditor's claim and remedies against the debtor until the creditorhad been paid in full, did not bar the surety's claim under the indemnityagreement.
2. That the indemnity claim should not be allowed. A surety for partof an indebtedness does not, through the expedient of taking a separateindemnity agreement from the debtor, equip himself to compete with thesecured creditor in the distribution of the debtor's assets when the debtorbecomes insolvent and the surety's obligation has been paid (18 F. (2d)707, reversed). (Jenkins, Receiver, et al. v. National Surety Co., 277 U. S.258.) /
STATE NOT ENTITLED TO PRIORITY UNDER COMMON LAW
Appeal and error—State, suing insolvent bank's receiver on trust theory, can not onappeal claim right of preference in distribution.
(U. S. C. C. A. 1928.) Where State sues receiver of insolvent bank on trusttheory, it is not entitled to claim on appeal right to preference in dis-tribution. State of South Dakota v. Fiman, 29 Fed. Rep. (2d series)770 affirmed. (Fiman et al. v. State of South Dakota, 29 Fed. Rep. (2dseries) 776.)
Statutes governing national banks held superior to claimed right of State of SouthDakota to preference in payment of debts due it, owing to adoption of commonlaw.
(U. S. C. C. A. 1928.) State of South Dakota, having adopted commonlaw of England, is entitled to priority of payment of all debts due it out
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of debtor's property as general rule; but national bank act (12 U. S. C.A. sees. 21-200) constitutes complete code of laws for organization, con-trol, and dissolution of national banks, and is necessarily superior to claimedright of State to preference by reason of common law. (Ib.)
DEPOSIT OF PUBLIC MONEY EXCEEDING STATUTORY LIMIT IS A TRUST FUND
Deposits of public money exceeding statutory limit, made by bank president as agentof State, held trust funds belonging to State. (Laws S. Dak., 1917, ch. 333.)
(U. S. C. C. A. 1928.) Where president of national bank, as agent of State,deposited State funds in bank exceeding limit prescribed by statute(Laws S. Dak., 1917, ch. 333), funds so deposited held to be trust fundsbelonging to State, notwithstanding bank acted illegally for long periodof time, with knowledge of State officials. (Ib.)
State, showing deposits in insolvent bank were held in trust, must show receiver hasfund in which deposit is included.
(U. S. C. C. A. 1928.) Where it was shown that bank held certain depositsof State money in trust, State, to regain its funds, must show that receiverof bank as such has in his hands common fund in which such deposit isincluded. (Ib.)
Showing that bank receiver has common fund, in which trust fiend is included,raises presumption that bank in expending funds did not use trust fund, and makesprima facie case for claimant.
(U. S. C. C. A. 1928.) Showing that bank held certain deposits in trust,and that receiver has common fund in his hands, in which deposit is in-cluded, raises presumption that bank in expending funds expended itsown and not trust fund, and therefore prima facie showing is made, enti-tling claimant to preference, unless overcome by proof of receiver. (Ib.)
Where trust funds hdd by bank are traced into certain fund, entire fund becomesone for payment of trust.
(U. S. C. C. A. 1928.) Where insolvent bank held deposits of State moneyexceeding statutory limit as trust fund, State having traced such fundsinto certain fund or property, the entire fund or property becomes onefor payment of trust. (Ib.)
Confusion of goods—Where wrongdoer knowingly mingles property with propertyof another, such other may claim whole mass or follow its proceeds.
(U. S. C. C. A. 1928.) General rule is that, where wrongdoer knowinglymingles property of another with his own in such manner that it becomesindistinguishable, true owner may claim whole mass, or, if it has beendisposed of, may follow it or its proceeds as long as he can trace them,for purpose of fastening equitable lien on property of which he has beendispossessed. (Ib.)
Trusts—Commingling of trust funds in particular fund creates equitable lien onentire fund in favor of cestui.
(U. S. C. C. A. 1928.) Where it was shown that trust funds held by bankwere commingled in particular fund, equitable lien arose in favor of cestuique trust on entire fund. (Ib.)
State's general deposit of trust fund, having been reduced to amount in vault whenbank closed, must be considered part of general fund on which State had lien.
(U. S. C. C. A 1928.) Where State made deposit in national bank of fundsexceeding statutory limit which were held in trust, but which went intogeneral account, such general deposit and fund, having been reduced toamount of cash in vault at time of closing bank, must, in absence of con-trary proof, be considered part of general fund on which State had lien.(Ib.)
National bank receiver takes assets in trust for creditors subject to defenses availableagainst bank.
(U. S. C. C. A. 1928.) Receiver of insolvent national bank stands in placeof bank, taking assets in trust for creditors subject to claims and defensesthat might have been interposed against insolvent corporation- (Ib.)
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State, claiming bank held funds in trust, may trace funds into accounts of correspond-ent banks and treat them as separate accounts from general cash assets of bank.
(U. S. C. C. A. 1928.) Where State claimed as against receiver of nationalbank that deposits exceeding statutory limit were held as trust funds, itmay be permitted to trace its funds into accounts of correspondent banks,and treat them as separate accounts from general cash assets of bank.(Ib.)
Estoppel—State held not estopped by unauthorized acts of officers from claimingunlawful deposits were trust fund.
(U. S. C. C. A. 1928.) State held not estopped by unauthorized or fraudu-lent acts of its officers from claiming that deposits of State money ininsolvent bank exceeding statutory limit were held in trust. (Ib.)
State's prior right to unlawful deposits in insolvent bank held not defeated on ground•allowance would be inequitable and unjust to creditors and depositors.
(U. S. C. C. A. 1928.) State's prior right to funds in insolvent bank, whichhad been deposited unlawfully and were held in trust, held not defeatedon ground that allowance would be inequitable and unjust to creditorsand depositors of bank, since creditors can not complain if that is returnedto State to which neither bank nor receiver ever had any just title. (Ib.)
One claiming bank held trust fund must show fund increased bank's present assetsand may be taken without impairing creditors' rights.
(U. S. C. C. A. 1928.) One of the prime requisites of right to follow andregain trust funds is showing that trust fund has increased present assetsof bank, and that it may be taken therefrom without impairing rights ofcreditors. (Ib.)
BANK'S TRANSFER OF ASSETS TO SECURE SURETIES
Bank's transfer of assets to trustee to secure sureties on bonds executed by bank heldinvalid where made in contemplation of insolvency. (National banking act,sec. 52 (12 U. S. C. A., sec. 91).)
(U. S. C. C. A. 1928.) National bank's transfer of notes to trustee tosecure sureties on bonds of bank for city, county, and school districtdeposits, made in contemplation of insolvency and with view to preventthe application of the bank's assets in the manner prescribed by statute,held invalid, under national banking act, section 52 (12 U. S. C. A., sec. 91),requiring trustee to account to bank's receiver for all of bank's assetsreceived by him under trust agreement, under 12 U. S. C. A., sections 193,194. (Parks et al. v. Knapp, 29 Fed. Rep. (2d series) 547.)
ACTIONS AGAINST SHAREHOLDERS AGENT
Director, unlawfully purchasing stock for bank, could not recover against innocentshareholders purchase price from assets remaining after creditors were paid.
(U. S. D. C. 1928.) Where bank director, together with other officials, pur-chased certain stock for the bank, in violation of law, forbidding bank topurchase and hold its own shares, he was not entitled as against innocentshareholders to recover from remaining assets the amount advanced byhim as purchase price of shares standing in his name after insolvency ofbank, notwithstanding the purpose of making purchase of stock was to-get rid of president and liability of bank for payment of his salary. (Rustv. MacLaren, 29 Fed. Rep. (2d series) 288.)
INSOLVENT JOINT STOCK LAND BANK
Judgment—Decision in prior case, involving same questions and subject matterand substantially same parties, is not technically res judicata, where dismissal waswithout prejudice.
(U. S. C. C. A. 1929.) Decision of Circuit Court of Appeals in prior case,involving same subject matter and questions and substantially the sameparties, is res judicata; but where court modified its affirmance, by pro-viding that dismissal was to be without prejudice, such decision can nottechnically be regarded as res judicata. (Krauthoff v. Kansas City JointStock Land Bank of Kansas City, Mo. et al, 31 Fed. Rep. (2d series) 75.)
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Receiver of joint-stock land bank, appointed under Federal farm loan act, has powerto assess stockholders. (12 U. S. C. A., sees. 192, 961, 963.)
(U. S. C. C. A. 1929.) Receiver appointed for joint-stock land bank byFederal Farm Loan Board, pursuant to Federal farm loan act (12 U. S.C. A., sees. 961,963), has power to make assessment against stockholderssimilar to power of comptroller, under national banking act (12U.S.C.A.,sec. 192), to make assessments against stockholders of bank. (Ib.)
Receiver of joint-stock land bank has right to possession of assets pledged for paymentof bonds, though debt for which assets were pledged has not been paid. (Federalfarm loan act, sec. 29; 12 U. S. C. A., sec-961.)
(U. S. C. C. A. 1929.) Receiver appointed for joint-stock land bank, underFederal farm loan act, section 29, 12 U. S. C. A., section 961, has right topossession and control of assets which are pledged to the payment of farmloan bond, even prior to time when debt for which such assets werepledged has been paid. (Ib.)
One purchasing bonds after appointment of receiver for joint-stock land bank can notquestion appointment or seek appointment of court receiver.
(U. S. C. C. A. 1929.) Plaintiff, purchasing farm loan bonds after FederalFarm Loan Board had appointed receiver for joint-stock land bank forsole purpose of bringing lawsuits and attracting legal business, is in noposition to question appointment of such receiver, or seek the appoint-ment of a receiver by the court. (Ib.)
INSOLVENT STATE BANK
Bank commissioner of Oklahoma, in taking over assets of failed bank, took themsubject to rights of creditors.
(U. S. D. C. 1929.) Bank commissioner of Oklahoma, in taking over assetsof a failed bank, occupies position analogous to that of receiver or trusteein bankruptcy for benefit of creditors of bank, and takes the assets subjectto rights of its creditors. (United States Fidelity & Guaranty Co. v.Ottawa County Nat. Bank, 32 Fed. Rep. (2d series) 368.)
Surety, paying claim of United States against failed bank, was entitled to priorityas to assets transferred to another bank assuming liabilities to unsecured depositors.(81 U. S. C. A., sees. 191, 198).
(U. S. D. C. 1929.) Under Revised Statutes, sections 3466, 3468 (31 U. S.C. A., sees. 191, 193), charging assets of insolvent principal with paymentof claim of United States and granting priority therefor, surety havingpaid sums due United States by failed bank, was entitled to priority asagainst assets transferred by State banking commissioner to another bankin consideration of its assumption of the liabilities of failed bank to itsunsecured depositors, regardless of liability of banking commissioner tothe United States, under Revised Statutes, section 3467 (31 U. S. C. A.,sec. 192). (Ib.)
Surety, paying claim due United States, was entitled to pursue assets of failed bankon theory of trust. (31 U. S. C. A., sees. 191, 193.)
(U. S. D. C. 1929.) Surety, having paid claim due United States by failedbank and becoming entitled to priority by virtue of Revised Statutes,sections 3466, 3468 (31 U. S. C. A., sees. 191, 193), was entitled topursue assets of failed bank on the theory of a trust. (Ib.)
Trusts—Persons coming into possession of trust property with notice of trust areconsidered as trustee.
(U. S. D. C. 1929.) All persons coming into possession of trust propertywith notice of trust will be considered as trustee, and bound with respectto special property to execution of trust. (Ib.)
Surety, paying deposit of county treasurer, was entitled only to share pro rata inassets of failed bank with unsecured depositors.
(U. S. D. C. 1929.) Surety, paying deposit of county treasurer in failedbank, was entitled only to share pro rata in assets of failed bank withunsecured depositors. (Ib.)
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INSOLVENT PRIVATE BANK
Principal and surety—Where bankrupt partnership bank executed bond, individualpartners who obligated themselves personally and secured nonmember cosuretiesowed obligation of indemnity to such nonmember sureties, and were not entitledto contribution against them.
(U. S. D. C. 1929.) Where bankrupt partnership bank composed of manyindividuals executed bond to public officials signed by partnership, and,in addition, individual partners obligated themselves personally to paybonds and secured cosureties, nonmembers having no primary obligationfor debt, individual partners owed obligation of indemnity to nonmembersureties, and were not entitled to contribution against them, regardlessof whether individual partners be called sureties or principals, since,independent of subrogation arising as to principals, partners signing bondsare debtors to nonmembers' sureties. (In re J. H. P. Davis & Co,, 30Fed. Rep. (2d series), 937.)
INTEREST AND USURY
Usury—"Usury" is interest in excess of legal rate.(U. S. C. C. A. 1929.) "Usury7' is interest in excess of legal rate charged to
a borrower for the use of money. (Medical Arts Building Co. v. SouthernFinance & Development Co. et al., 29 Fed. Rep. (2d series), 969.)
Usury—Essential requirement in regard to usury is that broker's compensationmust come wholly from borrower.
(U. S. C. C. A. 1929.) An essential requirement in determining whetherthere is usury is that compensation of broker in effecting the transactionmust come wholly from the borrower, and not from the lender. (Ib.)
Usury—Usury generally requires intent to exact more than legal maximum for useof money.
(U. S. C. C. A. 1929.) In order to constitute usury, there generally mustexist an intent to exact more than the legal maximum for use of money.(Ib.)
Usury—Usury is special defense, and one urging it has burden of proof.(U. S. C. C. A. 1929.) Usury is a special defense, and the burden is cast
upon one urging it to prove plea of usury after prima facie case is made byintroduction of instrument. (Ib.)
Usury—Facts necessary to constitute usury must be established by preponderance ofevidence.
(U. S. C. C. A. 1929.) It is incumbent on one urging defense of usury toestablish the facts necessary to constitute usury by a preponderance ofthe evidence. (Ib.)
Usury—Sale of second bond issue at discount held not to constitute loan at usuriousinterest.
(U. S. C. C. A. 1929.) Sale of second bond issue at discount, in accordancewith agreement to that effect with broker effecting sale thereof, held notto constitute a loan at usurious interest, in view of evidence establishingthat there was no intention to evade usury laws by carrying out transac-tion in such manner. (Ib.)
Usury—Burden to make out usury is on party asserti?ig it.(U. S. D. C. 1929.) Burden to make out usury is strongly upon the party
asserting it. (In re Mansfield Steel Corporation, 30 Fed. Rep. (2d series),832.)
Usury—fourt must not decree forfeiture for usury, where transaction is susceptibleof an innocent construction.
(U. S. D. C. 1929.) Where transaction is susceptible of an innocent con-struction and can only be held usurious by wresting it from relation toother facts or by imputing to the facts a meaning which they can notreasonably bear, court must not decree a forfeiture, but uphold contract.(Ib.)
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Usury—Test of usury is whether performance of contract will result in greater returnto lender than lawfully allowed and was such result intended.
(U. S. D. C. 1929.) Test of usurious contract is, Will its performanceresult in producing to lender a greater return for the use of the amountloaned than is allowed by law, and was that result intended? (Ib.) ,
Usury—Expenses incident to making loan is not compensation for use of moneyloaned as regards claim of usury.
(U. S. D. C. 1929.) Expenses incident to making loan and furnishinglender satisfactory security for its repayment can not be considered com-pensation for use of money loaned as regards claim of usury. (Ib.)
Usury—Transaction for loans in Canadian money then subject to discount andreceipt therefor of promissory notes payable in United States held not to resultin usury, where maximum state rate of interest was charged (Comp. Laws Mich.1915, sees. 5997, 5998).
(U. S. D. C. 1929.) Transaction whereby lender made loans in Canadianmoney which at time was at a discount in United States, but legal tenderat par for payment of debts in Canada, and who received therefor promis-sory notes payable in United States, held not shown to result in usuriousinterest in violation of Compiled Laws of Michigan, 1915, sections 5997,5998, where maximum rate of interest permitted thereby was charged.(Ib.)
Usury—In suit to recover penalty, claims for interest paid more than one yearprevious were barred, and plaintiffs could not avoid bar by pleading later discoveryof usury (St. CaL, 1919, p. 83).
(U. S. D. C. 1928.) In suit to recover treble interest for usury, underStatutes of California, 1919, page 83, claims for interest paid prior to oneyear before filing bill were barred, and plaintiffs could not avoid bar bypleading later discovery of usury, since statutory period is not, strictlyspeaking, a statute of limitation. (Kurzman et al. v. Commercial CreditCo., 33 "Fed. Rep. (2d series), 358.)
Usury—Statutory period within which action to recover penalty for usury may bebrought is not affected by rules as to tolling (St. CaL, 1919, p. 83).
(U. S. D. C. 1928.) Statutory period of one year within which action forrecovery of treble interest for usur}^ may be brought, under Statutes ofCalifornia, 1919, page 83, is not, strictly speaking, a statute of limitations,but creates cause of action for certain period, extinguishing it absolutelyat the end of the period, and statute is not affected by general rules as totolling of statute of limitations. (Ib.)
Suit brought by Federal Intermediate Credit Bank to collect promissory notes is asuit arising under the laws of the United States.
(U. S. Sup. 1928.) A suit to collect promissory notes exceeding the juris-dictional amount, brought by a Federal intermediate credit bank char-tered under the act of March 4, 1923, is, because of the plaintiff's Federalincorporation, a suit arising under the laws of the United States and withinthe jurisdiction of the district court under Judicial Code, section 24 (1).(Federal Intermediate Credit Bank of Columbia, S. C, v. Mitchell et al.,277 U. S., 213.)
Jurisdiction not affected by act of February 13, 1925, as all stock in bank is ownedb"i the United States.
(U. S. Sup. 1928.) Such jurisdiction is not affected by section 12, act ofFebruary 13, 1925, since ownership by the United States of all of theplaintiff's capital stock brings the case within the proviso of that section,(Ib.)
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United States district courts have jurisdiction of suits brought by or against corpora-tions under an act of Congress.
(U. S. Sup. 1928.) Section 201 (c) of the act of March 4, 1923, supra, in theprovision that each such bank "for purposes of jurisdiction shall bedeemed a citizen of the State where it is located," governs the places wheresuit may be brought against such banks, but is in nowise inconsistent withthe general rule that district courts have jurisdiction of suits brought byor against corporations organized under an act of Congress on the groundthat they are controversies arising under Federal law. (Hermann v.Edwards, 238 U. S. 107, distinguished.)
In the absence of enactments plainly expressing that purpose, Congresswill not be held to have intended to restrict that jurisdiction. (21 F.,2d, 51, reversed.) (Ib.)
Action against national bank must be brought in place tvhere its bank is "located"(12 II. S. C. A. sec. 9Jh)
(City Court of N. Y. 1929.) Under 12 U. S. C. A., section 94, providingthat actions against national banks may be had in any district court ofUnited States within district in which bank may be established, or in Statecourt in county or city in which bank is located having jurisdiction insimilar cases, action against a national bank must be brought in the placewhere its bank is "located," which is the place specified in its organizationcertificate. (Raiola v. Los Angeles First National Trust & Savings Bank,233 N. Y. S., 301.)
Courts—Decisions of Federal courts construing Federal statute are controlling onState courts.
(City Court of N. Y. 1929.) The decisions of Federal courts construingFederal statute are controlling on State courts, where meaning of Federalstatute is to be ascertained. (Ib.)
LOANS
Drains—Bank, making loan to drainage district, acquired rights of lender, thoughtransaction was evidenced by instrument other than note (Comp. Gen. Laws, Fla.,1927, sec. 1460).
(U. S. C. C. A. 1929.) Bank, loaning money to drainage district, acquiredrights of lender intended to be conferred by Compiled General Laws,Florida, 1927, section 1460, though transaction was represented by district'sindorsement and transfer of certificate of deposit to bank, instead of byexecution of notes. (Hemphill v. Florida National Bank of Jacksonvilleet al., 30 Fed. Rep. (2d series), 892.)
Bank loaning money to drainage district to meet its interest payments due bond-holders, could, as against bondholders, apply on indebtedness district's deposit,representing taxes levied (Comp. Gen. Laws, Fla., 1927, sec. 1^60.)
(U. S. C. C. A. 1929.) Bank, loaning money to drainage district, to be usedwith other funds to make up required amount of interest on district'sbonds, and to be repaid from incoming taxes levied by district, heldentitled, as against bondholders, under-Compiled General Laws, Florida,1927, section 1460, to apply on indebtedness deposit to credit of district,representing money derived from taxes levied for payment of district'sobligations. (Ib.)
NEGOTIABLE PAPER
Bills and notes—Purchaser for value of negotiable jpaper transferable by delivery takesgood title, notwithstanding previous theft or fraud of vendor.
(U. S. C. C. A. 1929.) Purchaser for value of negotiable paper transferableby delivery, properly indorsed, takes good title thereto, even though paperhas been stolen, or vendor thereof acted fraudulently in connection withthe sale. (Pridgen v. Baugh & Sons Co., 30 Fed. Rep. (2d series), 353.)
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Bonds—Creditor to whom bank delivered negotiable bonds, with instructions forpayment of draft from proceeds, took bonds as purchaser in due course, wherenotice of defect was not shown.
(U. S. C. C. A. 1929.) Creditor of bank to whom bank turned over plain-tiff's bonds with instructions to sell them and pay draft out of proceeds ofsale, remitting remainder to bank, was bona fide purchaser for value indue course of bonds, where there was no showing that creditor took withnotice of defect in bank's title. (Ib.)
Bonds—Owner of bonds, which bank delivered to creditor for payment of debt, hadburden to show that creditor took with notice.
(U. S. C. C. A. 1929.) Owner of bonds deposited in bank for safekeeping,and delivered by bank to its creditor for sale, and payment of draft withthe proceeds, had burden of proof to show that creditor of bank acted inbad faith, or had notice of defect in bank's title, and creditor was not re-quired to show that it was purchaser for value. (Ib.)
Bonds—Creditor of bank, sued by owner of bonds which creditor received frombank for application on draft, was not required to prove debt was vjorth amount ofbonds transferred.
(U. S. C. C. A. 1929.) Creditor of bank, taking bonds deposited byplaintiff, for sale thereof and application of proceeds for payment of draft,held not to have burden to show that debt on account of which proceedswere applied was actually or reasonably worth amount of bonds or proceedstherefrom, in suit by owner of bonds. (Ib.)
Bonds—Preexisting debt held valuable consideration for transfer of negotiable bonds(negotiable instruments act; C. S. N. C. sec. 3005).
(U. S. C. C. A. 1929.) Preexisting indebtedness held to constitute valuableconsideration for transfer of negotiable bonds, so as to make purchaserthereof holder in due course, under negotiable instruments act (C. S.N. C. sec. 3005.) (Ib).
Bills and notes—Drawer's blank indorsement of draft gave collecting bank no rightto sue drawee before acceptance.
(U. S. C. C. A. 1929.) Drawer's indorsement in blank of draft delivered tobank for collection gave latter no right of action against drawee prior toacceptance thereof. (In re J. H. Jackson Co. (Inc.); ex parte Whiton;33 Fed. Rep. (2d series), 81.)
Bankruptcy—Letter of hypothecation gave bank no right in draft before drawer'sadjudication in bankruptcy, where not then accepted.
(U. S. C. C. A. 1929.) Where draft, indorsed in blank by drawer anddelivered to bank for collection, had not been accepted by drawee at timeof drawer's adjudication in bankruptcy, drawer's letter hypothecatingall drafts, checks, etc., received by bank from drawer as security forlatter's obligations to bank, gave latter no right in draft prior to suchadjudication. (Ib.)
Letter pledging bills of lading, received by bank from depositor, as security for latter'sobligations, was valid and affected all future transactions in reliance thereon.
(U. S. C. C. A. 1929.) Letter of hypothecation, pledging bills of lading"now or hereafter received" by bank from or for depositor as security forall of latter's obligations to bank, was valid and affected all future transac-tions between bank and depositor in reliance thereon. (Ib.)
Bankruptcy—That transfer of bill of lading to bank as security might work pref-erence was immaterial, unless bank had reasonable cause to believe transferorinsolvent. (Bankr. act, sec. 60 (b), 11 U. S. C. A., sec. 96 (&).)
(U. S. C. C. A. 1929.) That transfer of bill of lading to bank as security forall of transferor's obligations thereto might operate as preference infavor of antecedent claim, contrary to bankruptcy act, section 60 (b),11 U. S. C. A. section 96 (b) by reason of transferor's insolvency, was im-material, unless bank had reasonable cause to believe at time of transferthat transferor was insolvent. (Ib.)
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Bankruptcy—Vendor's lien on goods covered by bill of lading transferred to bankheld not affected by transferor's subsequent adjudication in bankruptcy.
(U. S. C. C. A. 1929.) Adjudication in bankruptcy did not affect vendor'slie'TJj- held by bank as security for bankrupt's obligations to it under agree-ment of hypothecation, pursuant to which bill of lading covering goodssubject to lien was transferred to bank before filing of petition; bank hav-ing right to hold draft, to which bill was attached, turn over goods todrawee on payment thereof, surrender bill of lading, and hold proceedsas security. "(Ib.)
Bills and notes—Evidence established thai note sued on was given for accommoda-tion of another, and not for bank, whose receiver could recover thereon.
(U. S. C. C. A. 1929.) Evidence that L was indebted to bank in an amountof above the legal limit, and that bank in attempt to reduce such in-debtedness sold some of L's notes to defendant, and that defendant innegotiating loan from bank turned back L's note to bank and gave hisnote payable to bank for excess over limit of L's indebtedness, whichthereupon entered on its books, as bills receivable, notes given by L andnote of defendant, held to establish that defendant's note was given forthe accommodation of L, and not for the bank, which in suit by itsreceiver could recover thereon. (Fenno v. Schulenberg, 32 Fed. Rep. (2dseries), 168.)
Bills and notes—To whom maker of paper loaned his credit is always question of fact.(U. S. C. C. A. 1929.) It is always a question of fact, to whom did the
maker of paper loan his credit? (Ib.)Bills and notes—Defense of accommodation is available only against party ac-
commodated.(U. S. C. C. A. 1929.) Defense of accommodation is only available as
against the party accommodated, the one to whom the credit is loaned.db.)
Bills and notes—Knowledge of bank suing on note that it was given for accommoda-tion of another held no defense.
(U. S. C. C. A. 1929.) Where all facts connected with transaction were fullyknown to maker executing note for accommodation of another, knowl-edge of bank suing on note of character of transaction constituted nodefense. (Ib.)
Bills and notes—Note executed to bank for accommodation of another held supportedby consideration.
(U. S. C. C. A. 1929.) Note executed by maker to bank for the accom-modation of another held supported by consideration, where bank wouldnot have taken up note of such other held by maker and included insettlement with such other if maker had not given to bank note executedfor accommodation of such other. (Ib.)
Bills and notes—Bank crediting payee with amount of draft checked out beforebank received notice of defect in payee's title held uholder for value in due course"(Rev. Gen. St., Fla., 1920, sees. 4698, 4732).
(TL S. C. C. A. 1929.) Where draft, indorsed by payee, "Pay anybank, banker, or trust company, or order," was forwarded to plaintiffbank with request for immediate credit, and on such credit being givenamount of draft was withdrawn by payee's checks before notice of anydefect in payee's title was received by plaintiff held, that plaintiff was"holder for value in due course," though amount so credited to payeewas subject to be charged back to it in case of dishonor, under RevisedGeneral Statutes, Florida, 1920, sections 4698, 4732, notwithstandingwords "Cash item. Present and collect," on draft. (American FruitGrowers (Inc.), v. Chase Nat. Bank of City of New York, 30 Fed. Eep.(2d series), 936.)
Contracts—One for tvhose benefit contract is made may sue thereon in assumpsitin his own name.
(U. S. C. C. A. 1929.) Person for whose benefit a contract is made may suethereon in assumpsit in his own name, although the engagement is notdirectly to or with him. (Millett v. Omaha Nat. Bank, 30 Fed. Rep.(2d series), 665.)79003°-
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Money received—Assumpsit lies where one person has received money or its equiva-lent, which in equity and good conscience belongs to another.
(U. S. C. C. A. 1929.) Action of assumpsit lies where one person has receivedmoney, or its equivalent, under such circumstances that in e ^ i t y andgood conscience he ought not to retain it but should pay it over to another,db.)
Assignments—Assignee of note held entitled to recover as against assignor's agentpayments made by maker to agent before note's maturity.
(U. S. C. C. A. 1929.) Bank as assignee of note held entitled to recover asagainst another bank, as assignor's agent, to which maker made paymentson note before maturity, amount of such payments, under rule that personfor whose benefit contract is made may recover in his own name wheremoney or its equivalent in equity and good conscience belongs to him.(Ib.)
Set-off and counterclaim—Claim of assignee of note against insolvent bank, asassignor's agent, for payments made thereon, held proper subject of set-off in suitby receiver of insolvent bank to recover deposit.
(U. S. C. C. A. 1929.) Claim of assignee of note for payments received onnote by insolvent bank as agent of assignor held proper subject of set-off,in suit by bank's receiver to recover sum on deposit with assignee bank,since set-off could be interposed either in law or in equity. (Ib.)
Bills and notes—Whether note was sold or paid held question of fact, depending onintent, in suit to compel transferor to indorse note. (Burns' Ann. St. Ind. 1914,sec. 9089wl.)
(U. S. C. C. A. 1929.) Whether holder of note, transferring it withoutindorsement, received payment from plaintiff as purchase price of note,or as payment and discharge of same, held a question of fact, dependingon intention of parties, and particularly on intention of transferor, insuit to require him, under Burns' Annotated Statutes, Indiana, 1914,section 9089wl, to indorse note. (Lowish v. First National Bank ofMarietta, Ohio, 31 Fed. Rep. (2d series), 408.)
Bills and notes—In suit to compel transferor to indorse note, evidence held to war-rant finding that plaintiff paid, but did not purchase, note (Burns' Ann, St. Ind.1914, sec. 9089wl.)
(U. S. C. C. A. 1929.) In suit to compel transferor of note to indorse same,under Burns' Annotated Statutes, Indiana, 1914, section 9089wl, evi-dence held to warrant finding that plaintiff had paid money to defendantas payment of obligation evidenced bv note, and not as purchase price.
ab)Appeal and error—Error can not be predicated on dismissal of bill, without per-
mitting rebuttal evidence, where record does not show character of rebuttal to beoffered.
(U. S. C. C. A. 1929.) Error can not be predicated on the dismissal ofplaintiff's bill before close of defendant's evidence, without permittinghim to offer evidence in rebuttal, where the record does not indicatewhat, if any, material rebuttal evidence would have been available, hadthe case been reopened. (Ib.)
Bills and notes—Evidence held to shoio lack of delivery. (Negotiable instrumentsact, Ohio, sec. 16.)
(U. S. C. C. A. 1929.) In action against estate of deceased maker of noteby alleged accommodation indorser, to recover sum alleged to have beenpaid on note by plaintiff, evidence held to show that as between immediateparties, maker and plaintiff, there never was a delivery of the note withinmeaning of negotiable instruments act, Ohio, sec. 16 (Gen. Code, Ohio,sec. 8121), for purpose of giving effect to it as a negotiable instrument,and hence verdict was properlv directed for the defendant. (Gill v. Smith31 Fed. Rep. (2d series) 396.)"
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Bills and notes—In action against maker by alleged accommodation indorser, ver-dict held properly directed for defendant on ground that plaintiff never paid note asaccommodation indorser.
(U. S. C. C. A. 1929.) In action against estate of deceased maker of noteby alleged accommodation indorser, to recover money alleged to havebeen paid by plaintiff in satisfaction of judgment on such note, evidenceheld to show that plaintiff never paid any money as accommodationindorser, and hence verdict was properly directed for defendant. (Ib.)
Judgment—Record in another case, to which plaintiff ivas stranger, not tendingto show payment by plaintiff in satisfaction of judgment on note, held properlyexcluded,
(U. S. C. C. A. 1929.) In action against estate of deceased maker byalleged accommodation indorser, to recover money alleged to have beenpaid by plaintiff in satisfaction of judgment on note, record of courtin another case, offered by plaintiff to show payment by him in satisfactionof judgment on note, held properly excluded, where plaintiff was not partyto such suit, and there was nothing in record to indicate that paymentwas made out of any fund in which plaintiff had interest. (Ib.)
Evidence—Refusal to permit plaintiff to state whether he paid part of judgmentheld proper, where question was for court under the particular facts.
(U. S. C. C. A. 1929.) In action against estate of deceased maker byalleged accommodation indorser, to recover sum alleged to have been paidin satisfaction of judgment on note, refusal to permit plaintiff to answerquestion whether he paid part of judgment on note was proper, wrherequestion whether receipt of money by judgment creditor under theparticular facts constituted payment was matter to be determined by thecourt. (Ib.)
Bills and notes—Payee's failure to escrow, for payment of note, land acquiredunder foreclosure, was at most breach of contract not relieving of liability.
(U. S. C. C. A. 1929.) Where payee of note agreed that it would, on obtain-ing title to certain land through foreclosure of mortgages, escrow such landas security for payment of note subject to any interest it might have thereinon account of mortgages and costs and expenses of foreclosures, its failure tofulfill such agreement did not raise "estoppel, "bu t was at most breach'ofcontract which would not relieve makers from liability on notes. (Burling-ton Savings Bank of Burlington, Vt., v, Rockwell et al., 31 Fed. Rep. (2dseries), 27.)
"Estoppel" arises where one induces another to believe certain facts and the otheracts thereon to his prejudice.
(TJ. S. C. C. A. 1929.) "Estoppel" arises where one by his conduct inducesanother to believe the existence of certain state of facts and the other actsthereon to his prejudice, in which case former is estopped as against latterto deny that such state of facts existed. (Ib.)
Specific performance—Uncertain but partly executed contract by payee of noteto escrow certain land as security for payment should be enforced as far as possible.
(U. S. C. C. A. 1929.) Contract by payee of note that, as soon as it obtainedtitle to certain lands through foreclosure of mortgages, it would escrow suchlands as security for payment of note subject to its own interest therein,though manifestly uncertain and probably not enforceable as executoryagreement, should be enforced as far as possible, in view of part executionby parties. (Ib.)
Equity should require payee of note to perform agreement to escrow lands acquired inforeclosure to secure payment of note.
(U. S. C. C. A. 1929.) Where payee of note failed to fulfill agreementto escrow certain lands as security for payment subject to its own interestsin land, which was acquired by foreclosure of mortgages and invokedaid of equity, court should require it to do equity by complying withagreement and should order accounting. (Ib.)
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OFFICERSCROSS REFEKENCES:
DEPOSITS—ISSUANCE OF CERTIFICATE OF DEPOSIT BY CASHIER WITHOUT PAGE
AUTHORITY 166
REPRESENTATION OF BANK BY OFFICERS
Bank was liable where officer participated in scheme to defraud depositor, thoughbank did not profit,
(U. S. C. C. A. 1929.) Bank was liable where vice president participated inscheme to defraud depositor in violation of bank's duty to receive and keepdepositor's money faithfully for his benefit, even though bank did notprofit on transaction. (National City Bank v. Carter 31 Fed. Rep.(2d series) 25.)
Bank was liable though officer participating in scheme to defraud depositor acquiredknowledge thereof for private purposes.
(U. S. C. C. A. 1929.) Bank was liable where vice president participatedin scheme to defraud depositor in violation of bank's duty to receiveand keep depositor's money faithfully for his benefit, even though vicepresident acquired his knowledge of scheme in course of conversationswith disreputable persons for his private purposes. (Ib.)
Depositor could recover from bank whose officer participated in scheme to defraud him,where depositor's imaginary illegal transaction, wherein he supposedly permittedanother to speculate in his name, was completed before bank's participation.
(U. S. C. C. A. 1929.) Depositor was not precluded from recovering againstbank whose vice president participated in scheme to defraud depositorunder doctrine "ex dolo malo non oritur actio," where any impropersubjective mental state on depositor's part was implanted there by fraud ofbank's coconspirators, and therefore parties were not in pari delicto, anddepositor's wrong, if any, consisted in imaginary transaction in whichdepositor permitted another to speculate in his name, and this transactionwas supposedly completed before bank assisted coconspirators in gettingmoney from depositor and running off with it. (Ib.)
Agreement of cashier, personally buying stock of bank, to take care of its transfer,involves no conflict between interests of himself and bank, so as to prevent it bindingbank.
(U. S. C. C. A., 1928.) Even though sale of stock in a bank, transfer ofwhich its cashier agreed with the seller to take care of, was to him individ-ually, general rule that corporation's officer can not act for it in a matterin which he is personally interested, and hence can not bind it by contractwith others in which he has a personal interest, where his and its interestsmay conflict, has no application, as no conflict between their interestscould be involved in the transfer of the stock on the books. (Dellert v.Stallman, 29 Fed. Rep. (2d series), 236.)
Persons who had sent certificates of stock in national bank and power of attorneyproperly indorsed to bank for sale, and were paid by bank, held not liable forsubsequent assessment, though transfer was not made on books; "owner." \l2U. S. C. A., sees. 63, 64.)
(U. S. C. C. A., 1928.) Where persons owning stock in national bank, ondirection of its cashier and his agreement to take care of its transfer,known by the president, sent the certificates of stock and power of attor-ney, properly indorsed, to the bank, either for delivery on a sale to thecashier personally, or to be sold for account of the owners, and bank, onreceipt thereof, paid for it, such persons were not liable for subsequentassessment by the Comptroller of Currency against them, on the theorythat they were "owners" within the meaning of 12 U. S. C. A., sections63, 64, though no transfer was made on the books. (Ib.)
Bank, receiving certificates of stock and paying for them without demand for transferstamps, held under no less obligation to make transfer on books because of absenceof stamps. {26 U. S. C. A., sec. 901[8].)
(U. S. C. C. A., 1928.) Bank, receiving certificates of stock and power ofattorney properly indorsed, though the certificates did not bear stamps, as
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provided by revenue act of 1924, title 8, Schedule A, paragraph 3 (26TJ. S. C. A., sec. 901(3)), having paid for the stock without demand forstamps, was under no less obligation to make the transfer effective andprotect the seller. (Ib.)
OFFICERS, CIVIL LIABILITY OFPage
DEGREE OF CARE REQUIRED OF DIRECTORS 187LIABILITY OF DIRECTORS FOR ASSENTING TO EXCESSIVE LOANS 190RECEIVER'S SUIT AGAINST DIRECTORS 191LIMITATION OF ACTIONS 194LIABILITY OF DIRECTORS OF STATE BANK TAKING DEPOSITS WITH KNOWL-
EDGE OF INSOLVENCY 194
DEGREE OF CARE REQUIRED OF DIRECTORS
Intentional violation of national banking laws must be shown, in order to justifyrecovery against bank directors. (National bank act; 12 U. S. C. A., sec. 21et seq.)
(U. S. C. C. A., 1928.) In a suit against bank directors, based solely on aviolation of duty imposed by the national bank act (12 U. S. C. A., sec. 21et seq.), it is not enough to show a negligent violation of the act, but ineffect an intentional violation must be shown in order to justify recovery.(Gamble v. Brown et al., 29 Fed. Rep. (2d series), 366.)
National bank directors are required to use degree of care which ordinarily prudentmen would exercise under similar circumstances. {National bank act; 12 U, S,C. A., sec. 21 et seq.)
(U. S. C. C. A., 1928.) National bank act (12 U. S. C. A., sec. 21 et seq.)does not relieve directors from common-law duty to be honest and diligent,and the degree of care required in such respect is that which ordinarilyprudent men would exercise under similar circumstances. (Ib.)
National bank directors are liable for loss resulting because of failure to hold meetingto ascertain whether notes were transferred to bank.
(U. S. C. C. A., 1928.) Where directors of national bank, by failure to holdmeeting in order to ascertain whether notes had been transferred pursuantto agreement for purchase of assets of trust company, made it possible forbank officer personally interested in items transferred to abstract certainnotes therefrom and conceal shortage, they were liable for resulting loss.(Ib.)
Directors of national bank were liable for loss made possible by neglect in failing toappoint auditing committee.
(U. S. C. C. A., 1928.) Directors of national bank were liable to the bankfor losses made possible by their neglect in failure to appoint a committeeto examine or audit the affairs of the bank, in accordance with the provi-sion of by-laws requiring directors to appoint committee to exercisesupervision over business and to examine the affairs of the bank everythree months. (Ib.)
Director of experience both as lavjyer and bank director held negligent, with otherdirectors, for failure to appoint auditing committee.
(U. S. C. C. A., 1928.) Bank director, having experience both as a lawyerand director for period of years, and a member of the discount committeeof the bank, held negligent, in common with other members of the boardof directors, for failure to appoint committee to examine or audit affairsof bank in accordance with requirements of by-laws. (Ib.)
Director, declining to qualify and serve as such, held not liable for negligence of board,before election of successor, in failing to appoint auditing committee. (12 U. S.C. A., sec. 71.)
(U. S. C. C. A. 1928.) Bank director, declining to qualify and not servingas such, or taking any part whatever in activities of board of directors,held not liable for negligence of board, before his successor was elected, infailing to appoint committee to audit and examine affairs of bank, not-withstanding Revised Statutes, section 5145 (12 U. S. C. A., sec. 71), toeffect that bank directors hold office for one year and until successors areelected and have qualified. (Ib.)
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Bank director, voluntarily remaining in office, though of advanced age, held liable forboard's negligence in failing to appoint auditing committee.
(U. S. C. C. A., 1928.) Bank director, voluntarily remaining in office andthereby retaining responsibilities to corporation, held liable for negligenceof board in failing to appoint committee to audit and examine affairs ofbank, notwithstanding that infirmities of advancing age made it incon-venient or difficult for him to perform duties of a director. (Ib.)
Liability as surety or indorser can not be included in determining total liability ofany person to national bank. (12'U. S. C. A., sec. 84-)
(U. S. C. C. A., 1928.) Liabilities incurred as surety or indorser for moneyborrowed by another can not be included in determining whether totalliability of such person to national bank exceeded one-tenth of its capitalstock and surplus, in violation of Revised Statutes, section 5200. (12 U. S.C. A., sec. 84.) (Ib.)
National bank may take note secured by deed of trust as security for loan. (12 U. S.C. A., sees. 24, 29.)
(U. S. C. C. A., 1928.) Revised Statutes, sections 5136, 5137 (12 U. S. C. A.,sees. 24, 29), forbidding national bank to hold possession of real estateunder mortgage, do not prohibit the taking of a note secured by deed oftrust as security for loan. (Ib.)
Directors, participating in excessive loan, were liable to bank for resulting loss, irre-spective of supposed value of security. (12 U. S. C. A. sees. 84, 93.)
(U. S. C. C. A. 1928.) Under Revised Statutes section 5239 (12 U. S. C. A.sec. 93), directors of national bank, participating in loan in excess ofamount permitted by section 5200 (12 U. S. C. A. sec. 84), were liable tobank for loss resulting in transaction, irrespective of supposed value ofsecurity at time of making loan. (Ib.)
Directors, failing to exercise ordinary diligence in examining notes transferred inpurchase of assets of trust company, were liable for resulting loss.
(U. S. C. C. A. 1928.) Where directors failed to exercise ordinary dili-gence in examining notes transferred to bank pursuant to purchase ofassets of trust company, they were responsible for losses occurring byreason of worthless notes, which ordinarily careful investigation wouldhave shown to be worthless. (Ib.)
Director, not having knowledge of excessive loan, was not liable for resulting loss.(12 U. S. C. A. sec. 84.)
(U. S. C. C. A. 1928.) Bank director, without knowledge that loan was inexcess of 10 per cent of capital and surplus of national bank, in violationof Revised Statutes section 5200 (12 U. S. C. A. sec. 84), was not liableto bank for resulting loss, in that the law expressly provides that onlythose knowingly participating therein are liable. (Ib.)
Directors held responsible for improvident loans during period when there was nodiscount committee, as required by by-laws.
(U. S. C. C. A. 1928.) Board of directors held responsible for improvidentloans during period when there was no discount committee, or report ofdiscounts to board of directors, in accordance with requirements of by-laws. (Ib.)
Directors were liable for loss through embezzlement and fraud by officer, by reasonof failure to require indemnity bond.
(U. S. C. C. A. 1928.) Bank directors were liable to bank for loss throughembezzlement and fraud of officer thereof, by reason of failure to requirean indemnity bond conditioned on faithful performance of duties asofficer of the bank. (Ib.)
Courts—Federal court in equity case is bound by provisions of equity rule withregard to amendments as interpreted by Federal courts. (Equity rule 19; 28U. S.C. A. sec. 724.)
(U. S. C. C. A. 1928.) Federal court In an equity case is bound with regardto amendments by the provisions of equity rule 19, as interpreted byFederal courts, rather than by decisions of State supreme court, withoutregard to 28 U. S. C. A. section 724, relating to conformity to practice inState courts. (Ib.)
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Courts—Amendment to billy in order to m,ake pleadings correspond with proof, aftertestimony was closed. held properly permitted. (Equity rule 19.)
(U. S. C. C. A. 1928.) Under equity rule 19, amendment of pleadings, tomake them more closely correspond with proof, after the testimony wasclosed, held within discretion of court, there being no indication that de-fendants were taken by surprise or deprived of opportunity to makedefense, (Ib.)
Directors, failing to require bond from officer, were liable for loss by reason of fraudu-lent conversion of bank's m,oney.
(IJ. S. C. C. A. 1928.) Failure of directors to require indemnity bond fromofficer of bank made them liable for loss by reason of fraudulent conver-sion of bank's money, since, in case surety bond had been required, rightof action would have existed against surety to recover amount converted.(Ib.)
Directors were liable for failure to exercise due diligence in verifying credits trans-ferred by trust company on purchase of its assets.
(U. S. C. C. A. 1928.) Where bank directors failed to exercise due dili-gence in verifying credits offered by trust company after purchasingassets thereof, they were liable for loss resulting by reason of false creditsaccepted in transaction, since ordinary business caution required investi-gation of nature of assets, and particularly credits offered in exchange forassumption of liabilities of trust company. (Ib.)
Directors were not liable for loss on note irregularly discounted, but approved byboard of directors within 80 days.
(U. S. C. C. A. 1928.) Where note was discounted without seeking approvalof discount committee or board of directors, but was believed by all par-ties to be good, and was approved by the board of directors within 30days after issuance of certificate of deposit therefor, the directors werenot liable for loss by reason of payee's failure, after certificate of deposithad been assigned to holder in due course. (Ib.)
Agreement between receiver of insolvent bank and certain directors not to sue suchdirectors did not release other directors from liability for negligence.
(U. S. C. C. A. 1928.) Agreement between receiver of insolvent bank andcertain directors, consisting of a covenant not to sue such directors inconsideration of payment of certain amount, held not to release the otherdirectors from liability for negligence, on the theory that they were allliable as joint tort-feasors, since a covenant not to sue one joint tort-feasor does not amount to a release. (Ib.)
Each director is liable in personal and individual capacity for failure to performstatutory or common-law duty.
(IT. S. C. C. A. 1928.) Each director of bank is liable in his personal andindividual capacity, and may be sued alone or jointly with other directors,whether his liability is based on a failure to perform a statutory or acommon-law duty. (Ib.)
Directors are entitled to proportionate credit for certain amounts paid by otherdirectors under agreement with receiver.
(U. S. C. C. A. 1928.) Where receiver for insolvent bank entered intoagreement with certain directors not to sue them in consideration of theirpaying certain amount, other directors are entitled to proportionate creditagainst amounts for which they are liable. (Ib.)
Bank directors held liable for interest on amounts found due from date of institutionof suit against them by receiver.
(U. S. C. C. A. 1928.) Where bank directors had learned generally of in-solvent condition of bank on date they directed it to be closed, but didnot know extent of their liability for negligence, but had ample opportun-ity for investigation during period of more than 30 months before closingof bank and institution of suit against them by receiver, they were liablefor interest on amounts found due from date of institution of suit. (Ib.)
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LIABILITY OF DIRECTORS FOR ASSENTING TO EXCESSIVE LOANS
Evidence—Court takes judicial notice of banking situation and method of its con-duct prior to deflation period commencing in 1920.
(U. S. D. C. 1929.) Court will take judicial notice of banking situation aridmethod and manner of its conduct prior to deflation period, which com-menced about the year 1920. (McRoberts v. Spaulding et al., 32 Fed. Rep.(2d series) 315.)
Bank directors are not liable for lawful loans made in good faith, though making waserror in judgment. {12 U. S. C. A. sec. 93.)
(U. S. D. C. 1929.) Bank directors are not liable, under Revised Statutessection 5239 (12 U. S. C. A. sec. 93), for lawful loans made in good faith,though making thereof was an error in judgment. (Ib.)
Question of improvident loans is what directors, sought to be held liable, think inmaking loans, and method and motive controlling their actions. {12 V. S. C. A.sec. 93.)
(U. S. D. C. 1929.) Question of improvident loans is not what some oneelse might think about loan, but what directors, sought to be held liable,under Revised Statutes section 5239 (12 U. S. C. A. sec. .93), think inmaking loans, and method and motive by which they were controlled intheir actions. (Ib.)
Director having no knowledge of excessive loan, and no knowledge of facts puttinghim on inquiry, can not be held for resulting loss. {12 U. S. C. A. sees. 8^, 93.)
(U. S. D. C. 1929.) Where bank director has no actual knowledge that loanis excessive under Revised Statutes section 5200 (12 U. S. C. A. sec. 84),and has no knowledge of facts which would put him on inquiry, he cannot be held for resultant loss under Revised Statutes section 5239 (12U. S. C. A. sec. 93). (Ib.)
Directors are not constructively chargeable with knowledge of cashier, to whom busi-ness has been intrusted by directors who have acted with proper precaution.
(U. S. D. C. 1929.) Bank directors are not constructively chargeable withknowledge of cashier, to whom business of bank has been intrusted bydirectors who have acted with proper precaution. (Ib.)
Absence of improper motive on bank directors' part is no defense to action for viola-tion of statute relating to excessive loans. {12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Absence of any improper motive, or desire for personalprofit on bank directors' part, is no defense to an action, under RevisedStatutes section 5239 (12 U. S. C. A. sec. 93), for violation of section 5200(12 U. S. C. A. sec. 84), relating to excessive loans. (Ib.)
Where renewal note is given for amounts already owed, court, in determining bankdirectors' liability, should look beyond giving of notes to find out real transaction.{12 U. S. C. A. sec. 93.)
(U. S. D. C. 1929.) Where several loans are made to an individual, aridlater these notes are taken up and a new note given constituting renewalfor amounts already owed, court in determining liability of bank directors,under Revised Statutes section 5239 (12 U. S. C. A. sec. 93), should lookbeyond giving of notes to find out what was real and true transaction.(Ib.)
/ / money in bank was misapplied without directors1 knowledge, subsequent "renew-als" of such paper with interest added were not new loans.
(U. S. D. C. 1929.) Where money in bank is misapplied without knowledgeor approval of directors, subsequent renewals of such paper, upon whichnothing was added but accrued interest, would not amount to new loanfor borrowed money, since "renewal" is not a loan, but is an extension oftime for payment. (Ib.)
Any rediscount purchased by bank upon which borrower was primarily liable isumoney borrowed73 within statute relating to excessive loans. {12 U. S. C. A.sec. 84.)
(U. S. D. C. 1929.) Any rediscount purchased by bank, upon which aborrower was primarily liable, must be considered as money borrowedwithin meaning of Revised Statutes section 5200 (12 U. S. C. A. sec. 84),
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relating to excessive loans; phrase '''money borrowed" meaning when theborrower receives money over which he exercises dominion and which heexpressly or impliedly promises to return. (Ib.)
Bank directors held personally liable to receiver for loans knowingly made in excessof statutory limit, with interest from date of loans. (12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Where capital stock was $100,000 and surplus was$100,000, bank directors held personally liable under Revised Statutessections 5200, 5239 (12 U. S. C. A. sees. 84, 93), for loans made to borrowerin excess of $20,000, with interest on each item from date loans weremade. (Ib.)
Bank directors held liable for loans exceeding statutory limit made after knowledgethat loans exceeded limit. (12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Bank directors held personally liable under RevisedStatutes section 5239 (12 U. S. C. A. sec. 93), for loans in excess of limit,under section 5200 (12 U. S. C. A. sec. 84), made after directors hadknowledge that loans to such borrower aggregated more than $20,000,where capital stock was $100,000 and surplus was $100,000. (Ib.)
Where loans to husband and wife together exceeded limit, but separately did not,directors were not liable. (12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Where loans to husband and wife together exceededlimit, under Revised Statutes section 5200 (12 U. S. C. A. sec. 84), of$20,000, where capital stock was $100,000, and surplus was $100,000, butloans to each did not exceed $20,000, and loans to wife were made in goodfaith upon her security, directors were not personally liable under section5239 (12 U. S. C. A. sec. 93). (Ib.)
Bank directors having no notice of excessive loans to borrower held not personallyliable. (12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Bank directors having no notice of excessive loans,which were excessive under Revised Statutes section 5200 (12 U. S. C. A.sec. 84), to borrower, held not personally liable under section 5239 (12U. S. C. A. sec. 93). (Ib.)
Bank director purchasing borrower's note for bank, when loans to him exceededstatutory limit, held personally liable. (12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Where capital stock was $100,000 and surplus was$100,000, bank director purchasing for bank note of borrower, who wasindebted to bank in sum of $20,000, held personally liable to receiverunder Revised Statutes section 5200 (12 U. S. C. A. sec. 84), relating toexcessive loans, and section 5239 (12 U. S. C. A. sec. 93), relating todirectors' liability. (Ib.)
RECEIVER'S SUIT AGAINST DIRECTORS
Limitation of actions—Four-year limitation period under Georgia law applies toreceiver's suit against directors of insolvent national banking association foraccounting. (12 U. S. C. A. sec. 93.)
(XL S. D. C. 1929.) Four-year period of limitation prescribed by Georgialaw applies to suit against directors of national banking association byreceiver for accounting, after association's failure, under 12 U. S. C. A.,section 93. (Anderson v. Gailey et al., 33 Fed. Rep. (2d series) 589.)
Limitation of actions—Each act of misconduct by directors of national bank createsseparate cause of action in bank and action for making excessive loans accrueswhen loan is made. (12 U. S. C. A. sees. 84, 93.)
(XL S. D. C. 1929.) Each act of misconduct of directors of national bankingassociation creates separate cause of action in bank against directors whoparticipated, as regards limitation on accounting suit against directors byreceiver of insolvent national banking association under 12 U. B.C. A.,section 93, and in case of excess loans under 12 U. S. C. A., section 84,right of action accrues as soon as the loan is made and the bank parts withits money. (Ib.)
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National bank may not receive paper representing excess loans, and such paper leftis salvage merely. {12 U. S. C. A. sec. 84-)
(U. S. D. C. 1929.) National bank has no right to receive paper given forexcess loans in violation of 12 U. S. C. A. section 84, and if such paper isleft among the assets of the bank by the directors it is only in the natureof salvage. (Ib.)
Directors of national bank handling paper representing excessive loans owe due dili-gence. {12 U. S. C. A. sec. 84.)
(U. S. D. C. 1929.) Bank directors in handling paper representing excessiveloans in nature of salvage under 12 U. S. C. A./section 84, owe due diligenceas in handling of all bank's business. (Ib.)
Limitation of actions—Clear misconduct of bank officers gives rise to cause of actionimmediately. {12 U. S. C. A. sec. 93.)
(U. S. D. C. 1929.) Acts of clear misconduct on part of directors of nationalbank, as in making loan to insolvent person or buying and not promptlyreselling bank's stock, give rise immediately to cause of action in behalf ofbank, its stockholders, and creditors under 12 U. S. C. A., section 93, butsome neglects are not actionable until damage ensues, and as to thesestatute does not begin to run until there is a right to sue. (Ib.)
Equity—Items of account barred at law are also barred in equity.(U. S, D. C. 1929.) Where items of an account are barred by statute of
limitations at law, they are also barred in equity. (Ib.)Equity—Suit by receiver of insolvent national bank against directors for accounting
based on negligence as to loans and excessive loans was barred where causes ofaction were barred at law. {12 U. S. C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Suit by receiver of insolvent national banking associa-tion against directors for accounting under 12 U. S. C. A., section 93, basedon negligent act of directors, especially in making excessive loans contraryto 12 U. S. C. A., section 84, and in negligently handling loans, held barred,though forum was in equity, where causes of action were barred at law.(Ib.)
Limitation of actions—Limitation generally runs in favor of bank directors duringtheir continuance in office.
(U. S. D. C. 1929.) As regards liability for misconduct, directors of nationalbank are in position of agents or mandataries, and limitation generallyruns in their favor during their continuance in office. (Ib.)
Limitation of actions—-No judicial exceptions to statute are implied, unless suit islegal impossibility.
(U. S. D. C. 1929.) Where suit is a legal impossibility, judicial exceptionsto statute of limitations are implied, as where there is no competent plain-tiff or defendant or no forum to sue in, but no exceptions are implied wheresuit may be brought. (Ib.)
Corporations—Directors against whom corporation proposed bringing suit may notvote on that question.
(XJ. S. D. C. 1929.) On consideration in directors' meeting of suit by cor-poration against some of directors, directors against whom suit was pro-posed would not be qualified to vote. (Ib.)
Single stockholder may assert national bank's right to accounting against directorsafter exhausting corporate remedies. {12 U. S. C. A. sec. 93.)
(U. S. D. C. 1929.) Action may be maintained against directors of nationalbank, under 12 U. S. C. A., section 93, in behalf of bank and stockholdersby assertion of corporation's right in court by single director or stock-holder, if majority of directors are sought to be proceeded against, actioncan not be procured by reference to stockholders or election of new direc-tors and corporate remedies are thus exhausted. (Ib.)
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Limitation of actions—That national bank directors, sought to be sued for accounting,were in control, did not prevent limitation from running in their favor, wherethere was no fraudulent concealment of cause of action. (12 U. S. C. A. sees. 84f93.)
(U.S. D. C. 1929.) Fact that directors of national bank sought to be suedfor accounting in behalf of bank and stockholders and creditors, under 12TJ. S. C. A., section 93, constituted majority of board and dominated it,did not prevent limitation from running in favor of directors, where therewas no fraudulent concealment of cause of action and cause of action wasnot brought for fraud, but for making excess loans contrary to 12 U. S. C. A.,section 84, and negligently handling loans. (Ib.)
Limitation of actions—Where cause of action is fraud, limitation begins only whenfraud is discovered by complainant, or could have been discovered by ordinary dili-gence. (Civ. Code, Ga. 1910, sec. 4380.)
(U. S. D. C. 1929.) Where cause of action is itself fraud cognizable inequity limitation begins to run only when fraud is discovered or could byordinary diligence have been discovered by complainant under Civil Code,Georgia, 1910, section 4380. (Ib.)
Limitation of actions—Statute postponing limitation until discovery of fraud applies,where cause of action was fraudulently concealed, provided there was actual moralfraud. (Civ. Code, Ga., 1910, sec. 4380.)
(U. S. D. C. 1929.) Civil Code, Georgia, 1910, section 4380, providing thatperiod of limitation shall run only from time of discovery of fraud, wheredefendant has been guilty of fraud by which plaintiff has been debarredor deterred from his action, applies where existence of cause of action wasfraudulently concealed, though in such case fraud must be actual moralfraud and not merely constructive. (Ib.)
Limitation of actions—Cause of action against directors of insolvent national bankfor accounting, for making excess loans and handling loans negligently, was notbased on actual fraud, so as to postpone limitation. (12- U. S. C. A. sees. 86, 93;Civ. Code, Ga., 1910, sec. 4380.)
(U. S. D. C. 1929.) Suit by receiver of national banking association inbehalf of bank, its stockholders, and creditors against directors for ac-counting under 12 U. S. C. A., section 93, for misconduct of directors inmaking excessive loans contrary to section 86, and in negligently handlingloans did not involve cause of action based on actual fraud, such that limi-tation in favor of directors would be postponed until time of discovery offraud under Civil Code, Georgia, 1910, section 4380. (Ib.)
Limitation of actions—Failure of directors of national bank to do more than makeminutes of excessive loans and enter loan transactions on records did not constitutefraudulent concealment of cause of action against them, so as to postpo7ie limita-tion. (12 U. S. C. A. sees. 84, 93; Civ. Code, Ga., 1910, sec. 4380.)
(U. S. D. C. 1929.) In suit by receiver of national banking association, inbehalf of stockholders and creditors, against directors of bank for account-ing under 12 U. S. C. A., section 93, for acts of negligence in makingexcessive loans contrary to section 84 and in negligently handling loans,failure of directors to do more than make, truthful minutes and entertransactions on records of bank, with respect to loans in which they werenot interested, did not constitute fraudulent concealment of cause of actionso as to postpone running of limitation until time of discovery of fraud,under Civil Code, Georgia, 1910, section 4380; position of director in thisrespect being no more confidential than that of attorney at law or otheragent. (Ib.)
Limitation of actions—Where action is based on agent's neglect limitation is imme-diately set in motion, though special damage and plaintiffs knowledge of unskillfulact are delayed. (Civ. Code, Ga., 1910, sec. 4380.)
(U. S. D. C. 1929.) Where unskillfulness and neglect of agent constitutecause of action, the unskillful act itself sets the limitation in motion andnot the occurrence of special damage, and ignorance of agent's unskillful-ness on part of plaintiff is not important; Civil Code, Georgia, 1910, section4380, postponing limitation until discovery of fraud being inapplicable.d b )
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Limitation of actions—Suit against directors of insolvent national bank for accountingwas barred, so far as based on excessive loans or loans to insolvent persons madeover four years before suit, and as to renewals of loans to insolvents. {12U. S. C. A. sec. 84, 93.)
(U. S. D. C. 1929.) Suit by receiver of insolvent national banking associa-tion in behalf of stockholders and creditors against directors for accountingunder 12 U. S. C. A., section 93, held barred in so far as it involved negli-gence of directors in making excessive loans contrary to section 84 ormaking loans to insolvent persons more than four years before suit wasbrought, and recovery was also barred as to renewals where debtor wasinsolvent at time of renewal. (Tb.)
Limitation of actions—Suit against directors of insolvent national bank for accountingheld not barred as to loans in which directors were beneficially interested. {12U. S.C. A. sees. 84, 93.)
(U. S. D. C. 1929.) Suit by receiver of insolvent national banking associationin behalf of stockholders and creditors against directors thereof for account-ing under 12 U. S. C. A., section 93, for excessive loans in violation ofsection 84 and negligent handling of loans, was not barred in so far astransactions took place within four years before filing of suit, and in sofar as directors were beneficially interested in loans. (Ib.)
Loans in which national bank's directors were beneficially interested should be closelylooked into in suit against directors for accounting. {12 U. S. C. A. sec. 93.)
(U. S. D. C. 1929.) Loans made by national bank where directors werebeneficially interested in loans should be closely looked into in suit againstdirectors in behalf of stockholders and creditors for accounting under 12U. S. C. A. section 93. (Ib.)
Limitation of actions—Suit against directors of insolvent national bank for accountingheld not barred as regards continuing negligence of directors in failing to resell bankstock. {12 U. S. C. A., sec. 93.)
(U. S. D. C. 1929.) Suit by receiver of insolvent national banking associa-tion against directors thereof for accounting in behalf of stockholders andcreditors under 12 U. S. C. A., section 93, held not barred as to continuingnegligence of directors in failing to resell bank's stock so long as it wassalable without committing fraud on purchaser. (Ib.)
LIMITATION OP ACTIONS
Liability of bank director to shareholders for negligent acts was barred after affairsof bank had been fully administered and creditors paid.
(U. S. D. C. 1928.) Where shareholders made no complaint relative tonegligence of director in administration of affairs of bank until afteraffairs of bank had been fully administered, creditors all paid, and cost ofadministration met, any liability existing by reason thereof was barredon ground of laches. (Rust v. MacLaren, 29 Fed. Rep. (2d series), 288.)
Equity—Facts found by master, and not excepted to, must be regarded as true onexceptions to report.
(U. S. D. C. 1928.) Facts found by master from proofs taken which werenot excepted to must be regarded on exceptions to report as the true factsof the case. (Ib.)
LIABILITY OF DIKECTORS OF STATE BANK TAKING DEPOSITS WITH KNOWLEDGEOF INSOLVENCY
Liability of directors of State bank taking deposits with knowledge of insolvency.(U. S. Sup. 1928.) A State statute making a bank director individually
liable for deposits, the receipt of which by the bank was assented to byhim with knowledge that it was insolvent, and which provides that hisfailure to examine the bank's affairs to learn of its condition shall chargehim with knowledge of its insolvency, and that in suits against him forsuch deposits the fact of insolvency when the deposits were received shallbe prima facie evidence that the director both knew of the insolvency andassented to the deposits, held consistent with due process of law. Thestatute might have made directors liable to depositors in every case. Byaccepting the office they assume the risks it imposes. (122 Kans. 675,691, affirmed.) (Ferry v. Ramsey et al.: Harris, executor, v. Ramsey et aL,277 U. S., 88.)
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OFFICERS, CRIMINAL LIABILITY OFPage
WILLFUL MISAPPLICATION OF FUNDS 195
AIDERS AND ABETTORS 198
WILLFUL MISAPPLICATION OF FUNDS
Fictitious transactions amounting to additional loan to insolvent customer withoutadditional security held "misapplication" of bank's funds. (12 U. S. C. A.sec. 592.)
(U. S. C. C. A. 1929.) Where vice president of bank, believing that insolventcustomer, who owed large amount to bank inadequately secured, couldborrow money elsewhere, released warehouse receipts for cotton heldby bank as collateral, which customer attached to drafts, so as apparentlyto evidence sales of cotton, and then discounted drafts and creditedcustomer's account with proceeds, which customer immediately disbursedto meet checks, and thereafter drafts came back without being discounted,result being that customer's indebtedness to bank was greatly increasedwithout giving additional security, held, that transaction constituted a"misapplication" of bank's funds, within 12 L). S. C. A. section 592.(Robinson v. United States, 30 Fed. Rep. (2d series) 25.)
Bank officer's loan to insolvent customer without knowledge of superiors and withoutadditional security constitutes misapplication of bank's funds. (12 U. S. C. A.sec. 592.)
(U. S. C. C. A. 1929.) When a subordinate bank officer, without the knowl-edge or approval of his superior officers or directors, makes a loan toinsolvent customer, who owes indebtedness to bank in an amount morethan bank ever expected to be able to collect, without any additionalsecurity, he thereby misapplies funds of bank, within 12 U. S. C. A. sec-tion 592. (Ib.)
Inference of intent to defraud, bank COM not be avoided, where bank officer intentionallymisapplies bank's funds by obtaining money by false pretense. (12 U. S. C. A.bee OK/K/.)
(U. S. C. C. A. 1929.) When a bank officer, who misapplies funds of bankintends the misapplication, and for that purpose gets money out of bankby any kind of false pretense, inference of intent to injure or defraudbank, in violation of 12 U. S. C. A. section 592, can not be avoided. (Ib.)
That loan on fictitious security might be collectible did not prevent transaction beingmisapplication of bank's funds. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1929.) That loan made by vice president of bank on fictitioussecurity might be good and collectible did not prevent transaction frombeing a misapplication of bank's funds by fraud and deceit, in violationof 12 U. S. C. A. section 592. (Ib.)
Criminal law—Trial errors should be disregarded by appellate courtf where verdictof guilty was plainly only verdict which jury could rightly render.
(U. S. C. C. A. 1929.) Where verdict of guilty of offense charged was plainlyonly verdict which jury could rightly render, appellate court may andshould disregard errors in procedure and evidence at trial, and rulingsof court in connection with charging jury. (Ib.)
Intent to deceive responsible bank officers as to character of paper carried as bankasset constitutes uintent to defraud," though no pecuniary injury to bank isintended. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1929.) The intent to deceive higher officers of bank as tocharacter of paper, which is being carried as a bank asset, constitutes"intent to defraud" the bank, within 12 U. S. C. A. section 592, making itan offense to misapply funds of bank, even though pecuniary injury tothe bank is not intended and does not occur. (Ib.)
Word "funds" in statute denouncing misapplication of bank's funds, might includeboth money and ucreditsy" if they were not specified. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1929.) The word '-'funds," in 12 IT. S. C. A. section 592,making it an offense to misapply "money, funds or credits" of bank, is aninclusive one, and might include both money and credits, if they were notspecified; "credits" referring to obligations or debts of others to the bank.(Ib.)
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Substitution of nonequivalent collateral for valuable collateral on substitution ofnew paper for matured paper constitutes misapplication of bank's funds, (12U. S. C. A. sec. 592.)
(U. S. C. C. A. 1929.) If on the substitution of new paper for matured paperheld by bank, valuable collateral is surrendered, and nonequivalentsecurity substituted, the funds of the bank are misapplied, in violationof 12 U. S. C. A. section 592. (Ib.)
Whether vice president's acceptance of insolvent customer's renewal paper of samevalue as that which matured constituted willful misapplication of bank's fundsheld jury question. {12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1929.) Where there was evidence that responsible managersof bank fully understood that customer was insolvent and deliberatelyentered on policy of cooperating with him in extending indebtedness,and even making new loans for purpose of minimizing bank's inevitableloss, and that vice president knew of policy and was authorized to someextent to carry it out, held, that vice president's action in extending timeto customer by accepting new paper of same character and value as thatwhich had matured was not a willful misapplication of funds or creditsof bank as matter of law, in violation of 12 U. S. C. A. section 592, but itwas a question for jury to determine. (Ib.)
Criminal law—After trial court has ruled that certain theory of defense vnll be utterlyrejected, counsel are under no obligation to go further to point out distinctions.
(U. S. C. C. A. 1929.) When trial court makes ruling which is right in generalway, but which counsel thinks not applicable for special reasons, it maybe duty of counsel to present to court the precise distinction on whichthey depend, but after court has ruled that a certain theory of defensewill be utterly rejected, counsel are under no obligation to go further. (Ib.)
Criminal law—Reversible error having been found as to five out of nine counts onwhich sentences were concurrent, sentences on affirmed convictions will bereversed and case remanded for resentencing.
(U. S. C. C. A. 1929.) Where defendant was convicted on each of nine countsof indictment, and sentenced to same term of imprisonment on each count,sentences to run concurrently, and to pay a fine on each count, and appellatecourt found no error as to the four counts, and reversible error as to thefive counts, held that convictions on said four counts will be affirmed, butsentences thereon will be reversed, and case remanded for resentencing.(Ib.)
Indictment and information—Indictment is sufficiently certain if it contains everyelement of offense charged and apprises defendant of what he must meet.
(U. S. C. C. A. 1928.) True test of sufficiency of indictment is not whetherit might possibly have been made more certain, but whether it containsevery element of offense intended to be charged, and sufficiently apprisesdefendant of what he must be prepared to meet, and, in case other pro-ceedings are taken against him for similar offense, whether record showswith accuracy to what extent he may plead former acquittal or convic-tion. (Olmstead et al. v. United States, 29 Fed. Rep. (2d series), 239.)
Indictment charging misapplication of national bank's funds by honoring insolvent'schecks against fictitious credit held sufficient as against demurrer. {12 U. S. C. A.sec. 592.)
(U. S. C. C. A. 1928.) Indictment, under Revised Statutes, section 5209(12 U. S. C. A. sec. 592), charging that president and director, havingcontrol of national bank's business, misapplied bank's funds and creditsin specified sum, with intent to defraud bank by converting them to useof corporation, which had no credit on bank's books, except a fraudulentand fictitious credit, when said defendant knew corporation was insolvent,and charging corporation's president with aiding and abetting, heldsufficient as against demurrer. (Ib.)
Indictment against president for misapplying national bank's funds need not allegemanner in which he came into control of bank's business. {12 U. S. C. A. sec.592.)
(U. S. C. C. A. 1928.) Indictment, under Revised Statutes, section 5209 (12U. S. C. A. sec. 592), charging misapplication of national bank's funds byits president having control of its business, held sufficient, as againstdemurrer, without charging manner in which he came into control. (Ib.)
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Indictment charging president's misapplication of national bank's funds was notrequired to allege he acted without directors' knowledge or consent. (12 U. S. C. A.sec. 592.)
(U. S. C. C. A. 1928.) Indictment, under Revised Statutes, section 5209 (12U. S. C. A. sec. 592), against president of national bank for misapplyingbank's funds, was not required to allege that, in misapplying funds of thebank, he acted without knowledge or consent of directors. (Ib.)
Indictment for misapplication of national bank's funds by honoring corporation'schecks against fictitious credit imported knowledge thai credit was fictitious. (12U. S. C. A. sec. 592.)
(U. S. C. C. A. 1928.) Indictment, under Revised Statutes, section 5209(12 U. S. C. A. sec. 592), charging that president of national bank, withintent to injure and defraud bank, feloniously misapplied specified sum ofbank's funds by turning over said funds to a corporation on its checks,when he knew that no such sum stood to its credit, except a false, fraud-ulent, and fictitious credit, imported knowledge that said corporation'scredit was in fact fictitious. (Ib.)
Indictment and information—If defendants desired greater certainty as to characterof misapplication of bank's funds charged in indictment, they should have askedfor it by special demurrer or bill of particulars. (12 U. S. C. A., sec. 592,)
(U. S. C. C. A. 1928.) Where indictment, under Revised Statutes, section5209 (12 U. S. C. A. sec. 592), for misapplication of national bank's funds,alleged all elements of offense, and clearly specified mariner in which mis-application was made, defendants, if they desired greater certainty as tocharge, should have asked for it by special demurrer or demand for billof particulars. (Ib.)
Whether defendant, charged with misapplying bank's funds, acted in good faith inrelying on alleged anticipated proceeds of trade acceptances to meet corporation'sfictitious checks, held jury question. (12 U. 3. C. A. sec. 592.)
(U. S. C. C. A. 1928.) In prosecution under Revised Statutes, section5209 (12 U. S. C. A. sec. 592), against president and director of nationalbank for misapplication of bank's funds by honoring checks of insolventcorporation against fictitious credits created by depositing fictitious checkson distant banks, and against president of such corporation as aider andabetter, whether defendants acted reasonably and in good faith, in relyingon alleged anticipated proceeds from trade acceptances to meet such ficti-tious checks, held question for jury. (Ib.)
Criminal law—Any error in overriding objection to question held not reversible, wherequestion was not answered, and no specific objection was taken to subsequentquestion.
(XL S. C. C. A. 1928.) Any error in overruling objection that question calledfor contents of written instruments on theory that such instruments werein defendants' possession, and hence not available to government, heldnot prejudicial, where question was not answered, and no specific objectionwas taken to subsequent question, which added little to what had alreadybeen testified to without objection. (Ib.)
Government must make case within indictment charging misapplication of nationalbank's funds, but need not establish in full every allegation thereof. (12 U. S. C.A. sec. 592.) •*'
(XL S. C. C. A. 1928.) Government must make a case within the scope ofindictment charging misapplication of national bank's funds, in violationof Revised Statutes, section 5209 (12 U. S. C. A. sec. 592), but this doesnot require it to establish in full every allegation therein contained. (Ib.)
Large withdrawals of national bank's funds through fictitious credits would makeprima facie case of misapplication of funds. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1928.) If president of national bank and president corpora-tion knowingly adopted scheme whereby, through fictitious credits, largesums were withdrawn from bank for benefit of corporation, and this decep-tive course was persistently pursued, a prima facie case of misapplicationof bank's funds, within Revised Statutes, section 5209 (12 U. S. C. A.sec. 592), was made out, even if corporation, though operating at loss andnearly insolvent, was not wholly insolvent, or though some wholly inade-quate security was given bank. (Ib.)
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National bank's directors, stockholders, and depositors have right to have bank'sfunds loaned and paid out openly, in accordance with banking pr actice.
(U. S. C. C. A. 1928.) I t is the right of directors, stockholders, and deposi-tors of national bank to have bank's funds loaned and paid out openly inaccordance with banking practice, and not under cover of misleadingsubterfuge, regardless of whether corporation receiving such moneys wasinsolvent. (Ib.)
Instruction, in considering intent in misapplication of bank's funds to corporation,to consider corporation's financial standing and defendants' reasonable beliefin respect thereto, held sufficiently favorable. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1928.) In prosecution, under Revised Statutes, section 5209(12 XL S. C. A. sec. 592), against president of national bank, for mis-application of bank's funds by honoring corporation's checks againstfictitious credits, and against corporation's president as aider and abetter,instruction that, in considering defendants' intent to defraud bank, juryshould consider financial standing of corporation and its president anddefendants' reasonable belief in respect thereto, held as favorable asdefendants could ask. (Ib.)
That actual deposits exceeded amount specifically charged as misappropriated byfictitious credits created no presumption that checks were paid out of actual deposits,question being for jury. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1928.) In prosecution under Revised Statutes, section 5209(12 U. S. C. A. sec. 592), against president of national bank for misappli-cation of bank's funds by means of fictitious credits extended to corpora-tion, fact that corporation's real deposits exceeded misapplicationsspecifically charged in indictment did not create legal presumption thatchecks counted on as means of unlawful diversion were payable and paidout of such actual deposit, but it was question for jury. (Ib.)
That checks referred to in indictment for misapplication of bank's funds by fictitiouscredit were honored by cashier's checks held not to create variance. (12 U. S. C. A.sec. 592.)
(U. S. C. C. A. 1928.) In prosecution, under Revised Statutes, section 5209(12 U. S. C. A. sec. 592), against president of national bank for mis-application of bank's funds by honoring checks against fictitious credit,fact that some of checks referred to in indictment by means of which fundswere withdrawn from bank were honored in first place by issuing cashier'schecks, held not to create a variance. (Ib.)
Indictment and information—Indictment need not negative all possible defenses, norset forth merely evidentiary facts.
(U. S. C. C. A. 1928.) It is not necessary in an indictment to negative allpossible defenses, or to set forth merely evidentiary facts. (Ib.)
There is no presumption that directors authorized bank officer to issue cashier'scheck without consideration from his issuance thereof. (12 U. S. C. A. sec. 592.)
(U. S. C. C. A. 1928.) There is no presumption, arising from fact that a bankofficer knowingly issues a cashier's check without consideration, thatdirectors authorized illegal transaction because Revised Statutes, section5209 (12 U. S. C. A. sec. 592), makes it offense for anyone withoutauthority of directors to issue a bill of exchange, which includes cashier'scheck. (Ib.)
Court will not presume national-bank directors authorized performance of criminalact by officer.
(U. S. C. C. A. 1928.) Court will not presume that board of directors ofnational bank authorized performance of a criminal act by officer thereof.(Ib.)
AIDERS AND ABETTORS
Embezzlement—If party gave note believing it would be discounted and because itwas unsatisfactory gave one afterwards paid, no criminal intent to aid and abetbank cashier in converting bank's funds could be inferred. (12 U. S. C. A.sees. 501, 591, 592.)
(U. S. C. C. A. 1929.) If defendant, in prosecution for aiding and abettingmisapplication and converting of funds of bank to use of bank's cashier,in violation of Revised Statutes, sections 5208, 5209 (12 U. S. C. A. sees.
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501, 591, 592), gave company note in belief that it would be discounted,and when advised that first note was not satisfactory, immediately gavenote indorsed by another, who afterwards paid note, no criminal intent-could fairly or properlv be inferred. (Quig v. United States, 33 Fed.Rep. (2d series) 820.)
Criminal law—District attorney's opening statement thai indictment for convertinghank's funds was against defendant and cashier pleading guilty and who wouldtell truth, and that parties pleaded guilty to indictments, held error, requiringreversal. (12 U. S.C. A. sees. 501, 591, 592)
(U. S. C. C. A. 1929.) In prosecution for aiding and abetting bank cashierin misapplying and converting to other's own use of money of bank inviolation of Revised Statutes, sections 5208, 5209 (12 U. S. C. A. sees.501, 591, 592), statements of district attorney that indictment wasagainst defendant and cashier, and that the cashier pleaded guilty andwas sentenced to penitentiary and was present to do right thing by tellingtruth about matter, and that parties were arraigned and both pleadedguilty to two indictments, and that defendant made settlement and tookrelease from bank, held prejudicial, requiring reversal. (Ib.)
Criminal law—Indictments of separate offenses two years before trial for aidingand abetting bank cashiers conversion of funds held inadmissible. (12 U. S. C. A.sees. 501, 591, 592.)
(U. S. C. C. A. 1929.) In prosecution for aiding and abetting bank cashierin the misapplication and conversion of funds of bank in violation ofRevised Statutes, sections 5208, 5209 (12 U. S. C. A. sees. 501, 591, 592),indictments offered in evidence against defendant and cashier of separateand distinct offenses committed some two years prior to trial of caseheld inadmissible. (Ib.)
Criminal lavj—Where offense appears to be one of series, evidence of prior offensemay be shown as bearing on intent.
(U. S. C. C. A. 1929.) In some rare cases, such as passing of counterfeitmoney, where offense for which defendant is bemg tried appears to beone of series of offenses of like character, evidence of offense may beshown, but solely for purpose of bearing on intent with which particularact was committed for which defendant is being tried. (Ib.)
Embezzlement—Evidence sustained conviction of defendants for aiding and abettingteller in abstracting funds from bank with intent to injure and defraud bank.
(U. S. C. C. A. 1929.) Evidence held to sustain conviction of defendantsof aiding and abetting teller of bank, a member of the Federal reservesystem, in abstracting funds to the amount of a cashier's check from suchbank with intent to injure and defraud the bank. (Morgan v. UnitedStates, Hust v. Same, 31 Fed. Rep. (2d series) 385.)
Auditor's testimony as to knowledge of signatures of officers attached to stock cer-tificate authorized certificate's admission in evidence.
(U. S. C. C. A. 1929.) Auditor's testimony that he had been auditor ofbank since 1916, and that he knew signatures of officers attached to stockcertificate, and that they were genuine, authorized admission of certifi-cate in evidence. (Ib.)
Auditor of Federal reserve bank held competent to testify of his own knowledge thathank from which funds were taken was member of Federal reserve system.
(U. S. C. C. A. 1929.) Auditor of Federal reserve bank since 1916, whoknew signatures of officers attached to certificate transferring to bankinvolved shares of stock of Federal reserve bank, could testify of his ownknowledge that bank from which funds were taken was a member of theFederal reserve system, as against contention that his testimony andcertificate were not the best evidence. (Ib.)
Embezzlement—Finding that bank from which funds were abstracted was memberof Federal reserve system held warranted.
(U. S. C. C. A. 1929.) Evidence held to warrant finding that bank fromwhich defendants were charged with aiding and abetting teller in ab-stracting funds therefrom was a member of the Federal reserve system.(Ib.)79003°—-30 14
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Affidavit showing that priest administered sacrament of communion to juror apartfrom rest of jury during deliberations, not showing injury, did not require newtrial
(U. S. C. C. A. 1929.) Affidavit showing that during deliberations priestadministered sacrament of communion to juror in room *shut off frompresence of other jurors, but not shown to have influenced jury in theirdeliberations, held not to require new trial, though action of bailiff inpermitting practice was to be condemned. (Ib.)
Asking jury whether defendant's counsel wanted Government to caU defendants tostand, and that law did not permit, held not comment on failure to testify, butany prejudice removed by instruction.
(IT. S. C. C. A. 1929.) Remarks of Government's attorney during argu-ment, asking jury whether defendants* counsel wanted Government'scounsel to call defendants to stand before jury and ask them a certainquestion, but that the criminal laws did not permit it, held not commenton failure of defendants to testify; but, if improper, prejudice was re-moved by court's instruction to jury not to consider statements at all.(Ib.)
ORGANIZATION
Corporations—Subscriber for stock as trustee without cestui que trust is personallybound.
(IT. S. C. C. A. 1929.) Subscriber for stock as trustee only in case wherethere is no cestui que trust is personally bound therefor, in that in suchcase there can be no trustee. (Stewart v. Ahern, 32 Fed. Rep. (2d series)864.)
REPLEVIN
Replevin—Defendant may defend on ground that third person is entitled to chattelwithout connecting defendant with latter7s title ($ivil Practice Act N. Y. Sec. 1093).
(IT. S. D. C. 1929.) Under civil practice act New York section 1093, de-fendant in action to recover personal property or its value may defendon the ground that third person is entitled to the chattel without connect-ing defendant with latter's title. (Banque De France p. Equitable TrustCo. of New York. Same v. Chase Nat. Bank of City of New York, 33Fed. Rep. (2d series), 202).
Pleading—On motion to strike out defenses to action to recover personalty, avermentthat property is not property of plaintiff is regarded as admitted.
(U. S. D. C. 1929.) In action to recover gold in possession of defendant,averment that shipment is not property of plaintiff is to be regarded asadmitted by plaintiff on motion to strike out defenses. (Ib.)
Pleading—In action to recover gold confiscated by Soviet state bank, defendant1 sallegations as to de facto Soviet Government held not to be stricken.
(U. S. D. C. 1929.) In action by Banque of France to recover gold in de-fendant's possession, alleged to have been illegally confiscated by StateBank of Soviet Union, defendant's allegation of existence of de factogovernment of Union of Soviet Socialist Republics existing to exclusion ofany previous government overthrown thereby should not be stricken; thedefendant being entitled to show any circumstances under which SovietGovernment might acquire title to property in dispute. (Ib.)
International law—Refusal of recognition of foreign government will not affectprivate rights of citizens dependent upon proof of existing conditions in such state.
(U. S. D. C. 1929.) The refusal of the political department to recognize aforeign government should not be allowed to affect private rights whichmay depend upon proof of existing conditions in such state, justice re-quiring that effect should be given by our courts to those acts of suchgovernment upon which rights of citizens depend, provided that in sodoing judicial department does not encroach upon or interefere withpolitical branch of government. (Ib.)
Evidence—Law of foreign nation is matter of proof.(U. S. D. C. 1929.) The law of a foreign nation is a matter of proof. (Ib.)
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International law—Recognition of foreign government validates all acts of suchgovernment from time it existed.
(U. S. D. C. 1929.) Recognition of a foreign government, either de jure orde facto, validates all acts of such foreign government from the time itexisted. (Ib.)
Pleading—In action by Banque of France to recover gold confiscated by Soviet StateBank of Russia, defense of recognition of Soviet by French Republic held not tobe stricken.
(U. S. D. C. 1929.) In action by Banque of France to recover from defendantgold confiscated by Soviet State Bank of Russia, defense that FrenchGovernment has recognized Soviet Government of Russia, and thatplaintiff's claim must be presented through its own government, notwith-standing that United States has not recognized present government ofRussia, held not to be stricken on motion of plaintiff. (Ib.)
Pleading—In action to recover from defendant gold seized by Soviet State Bank ofRussia, defense that bank is part of Soviet Government should not be stricken,since it raises question of jurisdiction.
(U. S. D. C. 1929.) In action by Banque of France to recover from defend-ant gold seized by Soviet State Bank of Russia, defense that state bankis part of Soviet Government should not be stricken, since, notwithstand-ing Soviet Government of Russia has not been recognized by- UnitedStates, defense involves political question as to who is sovereign de factoor de jure in Russia of which the court is without jurisdiction. (Ib.)
International law—Where plaintiff's pleading shows that property sought to berecovered from defendant is claimed by foreign government, ivant of jurisdictionappears without suggestion through State Department.
(U. S. D. C. 1929.) Where plaintiff's cause of action rests upon a pleadingshowing that one claimant of property sought to be recovered is a foreigngovernment, there is no necessity for that fact to be made known to courtby formal suggestion to State Department, but the court's want of juris-diction is matter apparent from issues as framed by pleading. (Ib.)
Replevin—In action to recover personalty based on wrongful detention, demand orrefusalt or facts showing wrongful withholding without demand, must be alleged.(Civil Practice Rules New York, rule 271.)
(U. S. D. C. 1929.) A demand must be alleged in an action based merelyon wrongful detention of chattel as well as refusal to turn over chattel, orthere must be an averment of facts which show wrongful withholdingof property without demand, in view of Civil Practice Rules New York,rule 271. (Ib.)
Replevin—Demand and refusal are prerequisite to action for recovery of chattelsagainst innocent bailee of one who received chattels unlawfully.
(U. S. D. C. 1929.) In action to recover personal property, demand andrefusal must be made before action brought, although bailee has receivedchattel from one who received it unlawfully, where bailee came intopossession innocently. (Ib.)
Replevin—Trover and conversion—Refusal to deliver chattels to plaintiff, of suchcharacter as not to indicate conversion, can not be basis of action for conversion orreplevin.(U. S. D. C. 1929.) Demand for possession of chattels and refusal of defendant
to deliver them over is merely evidence of conversion, so that, if defend-ant's refusal is of such character as not to indicate conversion, it can notbe the basis of action for conversion or replevin. (Ib.)
Pleading—Defense that plaintiffs demand for return of chattel did not afford de-fendant reasonable opportunity for investigating claim of title held not subject tobe stricken.
(U. S. D. C. 1929.) In action by Banque of France to recover from defendantgold confiscated by Soviet State Bank, defense that plaintiff's demandpreliminary to suit did not afford defendant reasonable opportunity toinvestigate and determine facts relative to plaintiff's claim of ownership,held well pleaded and not subject to be stricken. (Ib.)
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Pleading—Bailee's allegations thai subsequent to plaintiffs demand defendant hadreturned chattels to bailor should be stricken as constituting no defense.
(U. S. D. C. 1929.) In action by Banque of France for recovery of goldconfiscated by Soviet State Bank, defendant's allegations that, subse-quent, to plaintiff's demand, defendant returned property to its bailor,must be stricken, since such allegations constitute no defense. (Ib.)
SHAREHOLDERSPage
ASSESSMENT OF SHAREHOLDERS OF NATIONAL BANKS 202ASSESSMENT OF SHAREHOLDERS OF JOINT STOCK LAND BANKS 204ASSESSMENT OF SHAREHOLDERS OF STATE BANKS 204CROSS REFERENCES:
ORGANIZATION—SUBSCRIBER TO STOCK AS TRUSTEE WITHOUT CESTUI QUE TRUST
IS PERSONALLY BOUND 200
ASSESSMENT OF SHAREHOLDERS OF NATIONAL BANKS
One making gift to himself of national-bank stock as trustee for minor children heldnot subject to stockholder's liability thereon. (12 U. S. C. A. sees. 62, 64, 66.)
(U. S. C. C. A. 1929.) One making a gift of national-bank stock to himselfas trustee for minor children, in good faith and without knowledge ofbank's failing condition, held not subject to stockholder's liability forassessment, under 12 U. S. C. A. sections 62, 64, since section 66 providesthat persons holding stock as trustees shall not be personally subjectto any liability as stockholders, but that estate shall be liable. (McNairv. Darragh, 31 Fed. Rep. (2d series) 906.)
Courts—National-bank shareholder's statutory liability for assessment held notbarred by State statute relating to claims against estate. (12 U. S. C. A. sees.63, 66; Gen. St. Minn. 1923, sees. 8811, 8812.)
(XL S. C. C. A. 1929.) Liability for assessment against shareholder ofnational bank, under Revised Statutes, sections 5151, 5152 (12 U. S. C. A.sees. 63, 66), a statutory liability, held not barred by General Statutesof Minnesota, 1923, sections 8811, 8812, where receiver of bank did notknow of shareholder's death until too late to file claim prior to closing ofestate. (Gilbertson v. McCarthy et al., 32 Fed. Rep. (2d series) 665.)
Person, recognizing ownership of shares recorded in his name, was liable for assess-ment after bank's insolvency.
(U. S. D. C. 1928.) Where shares stood on records of bank in the name ofperson, who by his own acts and conduct recognized his ownership thereof,he was liable on bank's insolvency for assessment as between himself andcreditors of bank extending credit on the assumption of his ownershipof the stock. (Rust v. MacLaren, 29 Fed. Rep. (2d series) 288.)
Estoppel.—Person, admitting ownership of shares, and paying assessment afterinsolvency, could not thereafter question liability.
(U. S. D. C. 1928.) Where person recognized ownership of bank sharesrecorded in his name, and paid assessments thereon after bank's insol-vency, he could not thereafter question his liability on ground that hewas not in fact the owner of the shares, since assessment should have beencontested on such ground before payment. (Ib.)
Comptroller's levying of assessment is judicial determination of necessity of assess-ment and can not be collaterally attacked.
(U. S. C. C. A. 1928.) Levying of assessment by comptroller againststockholders of insolvent national bank is judicial determination by himof necessity of such assessment, and it is conclusive and can not be collat-erally attacked. (Collins v. Caldwell, and three other cases, 29 Fed.Rep. (2d series) 329.)
Letter to comptroller, in which person assessed as stockholder stated herself to beowner of stock, held conclusive, though stock stood in deceased husband's name.
(U. S. C. C. A. 1928.) Letter to comptroller from person assessed as stock-holder of insolvent national bank, in which she stated herself to be ownerof stock, held conclusive, in absence of contrary proof, notwithstandingthat shares stood in name of deceased husband. (Ib.)
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Widowj acquiring national-bank stock under husband's will, held properly assessedas stockholder, though stock did not stand in her name; u shareholder:" (12 U. S.G. A., sec. 63.)
(U. S. C. C. A. 1928.) Widow, who became owner of stock in national bankunder last will of her deceased husband, held properly assessed as stock-holder on bank's insolvency, notwithstanding that her name did notappear on books of bank as owner of stock, since real owner of sharesmay in every case be treated as " shareholder," within Revised Statutes,section 5151. (12 U. S. C. A. sec. 63), for purposes of assessment.(Ib.)
Receiver .of insolvent national bank need not exhaust remedy against transfereesbefore holding one transferring stock within 60 days before bank's failure liablefor assessment. (12 U. S. C. A. sec. 6/h)
(IT. S. C. C. A. 1928.) Person who had been owner of national-bank stock,and who had made transfer within 60 days before failure of bank, wasliable for assessment, under 12 U. S. C. A., section 64, and her liabilitywas primary, so that receiver was not required to exhaust remedy againsttransferees. (Ib.)
Courts.—Service must be made on comptroller in district where stockholders, suedfor assessment, impleaded comptroller.
(U. S. C. C. A. 1928.) Where suit was not brought by national bank to enjoinany action of comptroller, it was essential, in cross-bills by stockholdersagainst whom assessment was sought to be enforced and who impleadedthe comptroller, that service be made on him in the district. (Ib.)
Comptroller's assessment on national-bank stock is judicial determination of necessitytherefor, and amount assessable, which is conclusive upon shareholders.
(U. S. C. C. A. 1929.) Action of comptroller in ordering assessment on stockof national bank is judicial determination of necessity therefor, and ofamount assessable against each shareholder, which is conclusive uponshareholders and not subject to appeal or collateral attack. (Chase v.Hall, 30 Fed. Rep. (2d series), 195.)
Note given by insolvent bank for assumption of its liabilities by another bank repre-sents engagements for which stockholders are responsible.
(U. S. C. C. A. 1929.) Note given by insolvent bank to another bank assum-ing its liabilities to depositors, to make up deficiency between amountof assets transferred to the other bank and amount of liabilities transfereebank assumed, represents contracts, debts, and engagements of insolventbank for which stockholders are responsible. (Ib.)
That assessment was for paying judgment obtained on note given by insolvent bank,in consideration of another bank's assumption of liabilities, was no defense tostockholders.
(TJ. S. C. C. A. 1929.) Assessment against stockholders of national bankcould not be avoided by stockholders because of fact that assessment wasgiven to pay judgment obtained by another bank on note which the insol-vent bank gave together with assets, in consideration for other bank'sassumption of liabilities to depositors. (Ib.)
That stockholder was induced by national-bank officers7 fraud to buy stock is nodefense to receiver's action to recover assessment (12 U. S. G. A. sec. 64.)
(U.' S. C. C. A. 1929.) That stockholder was induced by fraud on part ofofficers of national bank to buy stock is no defense to action brought byreceiver to recover an assessment legalry made against stockholder under12 U. S. C. A. section 64. (Anderson et al. v. Cronkleton, 32 Fed. Rep.(2d series), 170.)
Constitutional law—Courts can not change plain wording of statute.(XL S. C. C. A. 1929.) Courts can not change the plain wording of a statute.
(Ib.)
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National-hank stockholders were liable under statute to those who were creditors whenthey purchased as well as to those becoming creditors thereafter. (12 U. S. C. A.sec. 64.)
(U. S. C. C. A. 1929.) National-bank stockholders were liable under 12U. S. C. A., section 64, as to those who were creditors when they becamestockholders, as well as to those who became creditors thereafter. (Ib.)
National banks are quasi public institutions established by, and subject to, regulatorylaws of Congress.
(U. S. C. C. A. 1929.) National banks are quasi public institutions estab-lished by, and subject to, the regulatory laws of Congress. (Ib.)
ASSESSMENT OF SHAREHOLDERS OF JOINT-STOCK LAND BANKS
Federal Farm Loan Board held authorized to make assessment against stockholdersof insolvent joint-stock land bank and enforce their personal liability; "execution";"administration"; "direction and control" (12 U. S. C. A. sees. 812, 881 (i),(j), 6P, 651.)
(U. S. C. C. A. 1928.) Federal Farm Loan Board held authorized to makeassessment against stockholders of insolvent joint-stock land bank and toenforce personal liability of stockholders under 12 U. S. C. A., section 812;powers of board not being limited to those enumerated in section 831 plussupervisory powers set out in clauses (i) and (j), in view of sections 641,651, 961, 963, since "execution" within section 651 means putting intoforce, "administration" within section 641 means act of administering,especially direction or oversight of any office, service, or employment,and "direction and control" import authority to command what shall bedone and require obedience. (Greene v. Wheeler, 29 Fed. Rep. (2d series),468.)
Receiver of joint-stock land bank may maintain action to enforce stockholders1 liabilityfor assessment made by Federal Farm Loan Board. (12 U. S. C. A. sec. 812.)
(U. S. C. C. A. 1928.) Receiver of joint-stock land bank held to have legalright to maintain action against stockholders to enforce liability for assess-ment made by Federal Farm Loan Board under 12 U. S. C. A. section 812.(Ib.)
Statutes—Words of statute must be interpreted, to effectively accomplish purpose ofstatute, if reasonably possible.
(U. S. C. C. A. 1928.) While court can not read into statute language orpurposes not there Jx>und, such interpretation must be given to wordsemployed, if it can reasonably be done, as will effectively accomplishpurposes of statute. (Ib.)
ASSESSMENT OF SHAREHOLDERS OF STATE BANKS
Assessment of stockholders of insolvent State banks under laws of State of Georgia.(U. S. Sup., 1928.) The law in Georgia by which the superintendent of
banks may issue executions against stockholders of insolvent banks who,after notice from him, neglect to pay assessments on their stock, and whichmakes such executions liens on their property from date of issuance, isconsistent with due process of law, since the stockholders are givenopportunity to raise and try in court every possible defense by filingaffidavits of illegality.
The fourteenth amendment is not concerned with the mere form of the Stateprocedure. If the debtor does not demand a trial, the execution does notneed the sanction of a judgment.
The stockholders, by becoming such, assumed the liability imposed by thestatute. (164 Ga., 350, affirmed.) (Coffin Bros. & Co. et al. v. Bennett,277 U. S. 29.)
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TAXATIONPage
FEDERAL TAXATION 205TAXATION OP CONSOLIDATING BANKS 207TAXATION UNDER DISTRICT OF COLUMBIA 207CITY TAXATION.. 208
FEDERAL TAXATION f
Internal Revenue—Bank making good its letter' of credit, and selling goods coveredat loss} held not entitled immediately to charge off loss as worthless debt; "ascer-tained" {Revenue act, 1918, sec. 234 (a) (5).)
(U. S. C. C. A. 1929.) Where bank A, on bank B's irrevocable guaranty ofpayment for buyer's account of specified quantity of sugar purchasedthrough M, and at M's request, issued its letter of credit to seller, andafter it refused to accept B's attempted revocation of the guaranty wascompelled to sell sugar at loss in making good its letter of credit, whenB refused drafts covering price, held, that it was not justified in immedi-ately charging off said loss under revenue act, 1918, section 234 (a)(5), 40 Stat. 1078, as having been "ascertained" to be a worthless debt,in absence of proof respecting the financial responsibility of B and M,who were liable to it, and where it subsequently recovered full amount ofits claim, with costs, in subsequent action against A and B. (AmericanTrust Co. v. Commissioner of Internal Revenue, 31 Fed. Rep. (2d series),47.)
Internal Revenue—Debt can not be written off as worthless for income-tax purposesmerely because it is doubtful; "ascertained." (Revenue act, 1918, sec. 234 (a) (5).)
(U. S. C. C. A. 1929.) Under revenue act, 1918, section 234 (a) (5), 40Stat. 1078, authorizing corporation, in computing its net income fortaxation, to deduct debts ascertained to be worthless and charged offwithin taxable year, a debt can not be written off as worthless merelybecause it is doubtful, but reasonable and intelligent effort must be madeto determine its value, and circumstances thus discovered must be suchas reasonably to generate belief that it is in fact worthless; "ascertain"meaning to find out, to make reasonably certain, but the ascertainmentneed not be absolute, and final judgment and return nulla bona are notalways prerequisites. (Ib.)
Internal Revenue—Regulation authorizing banks to charge off debts as worthlessfor income-tax purposes is held unavailable, in absence of specific order or generalrule authorizing it. (Revenue act, 1918, sec. 234 (a) (5).)
(U. S. C. C. A. 1929.) Internal Revenue Regulation 62, article 151 (Comm.Reg. 8226-2 C. B. 116), providing that debts charged off by banks orother corporations, in obedience to specific orders or in accordance withgeneral policy, of supervisory Federal authorities, shall be presumed worth-less for income tax purposes, held not to support deduction from bank'sgross income under revenue act, 1918, section 234 (a) (5), 40 Stat.1078, in absence of showing of specific order by public authority to chargeoff such item as worthless, or evidence of any rule, regulation, or generalinstructions authorizing it. (Ib.)
Internal revenue—Court can substitute its judgment for that of tax authorities inrejecting deduction only if there is failure to exercise real discretion or error oflaw. (Revenue act, 1921, sec. 234 (a) (4) (5).)
(U. S. C. C. A. 1928.) If Commissioner of Internal Revenue and Board ofTax Appeals exercised their discretion to reject taxpayer's claim to deduc-tion for losses under revenue act, November 23, 1921, section 234 (a)(4) (5), 42 Stat. 254, and Treasury Regulations of 1922, articles 151, 155,on legal and reasonable grounds, Circuit Court of Appeals could not sub-stitute its discretionary judgment for that of the tax authorities; but, ifthere was a failure really to exercise discretion, or error of law in its exer-cise, court must grant relief. (Rhode Island Hospital Trust Co. v. Com-missioner of Internal Revenue, 29 Fed. Rep. (2d series), 339.)
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Internal revenue—Taxpayer's rights were not destroyed because it erroneouslysought deduction for bad debts and also addition to reserve for bad debts. (Revenueact, 1921, sec. 234 (a) (4) (5).)
(U. S. C. C. A. 1928.) That taxpayer originally sought a deduction fromprofits tax and also an addition to its reserve for bad debts, under revenueact, November 23, 1921, section 234 (a) (4) (5), 42 Stat. 254, and TreasuryRegulations of 1922, articles 151, 155, to only one of which it was entitled,did not destroy its real rights; taxpayer's rights, under conditions heredisclosed, not being determinable on merely technical grounds. (Ib.)
Internal revenue—Disallowing addition to reserve for bad debts for profits tax asresult of "guesswork " held not justified. (Revenue act, 1921, sec. 234 (o) (4) (£)•)
(U. S. C. C. A. 1928.) Taxing authorities' disallowance of trust company'saddition of $200,000 to its reserve for bad debts, for purposes of profitstax, under revenue act, November 23, 1921, section 234 (a) (4) (5), 42Stat. 254, and Treasury Regulations of 1922, articles 151, 155, on groundthat such amount was determined by "guesswork" held not justifiedunder the evidence that year in which addition was made was one in whichbanks generally faced very dangerous conditions, calling for extraordinaryprecautions, and that trust company at that time held about $23,000,000in short-time notes. (Ib.)
Internal revenue—Honest judgment of bank officials as to bank's profits for profits-tax purposes must be given substantial, if not controlling, weight.
(U. S. C. C. A. 1928.) Though the honest judgment of bank officials as toamount of profits made is not expressly made by statute prima faci6evidence for profits-tax purposes, it must, in absence of any indication oftax-dodging intent, be given very susbtantial, if not controlling, weight.(Ib.)
Internal revenue—Trust company's losses over period of years held not proper testof reasonable reserve for bad debts during year involving unusual conditions.(Revenue act, 1921, sec. 234 (a) (4) (5).)
(U. S. C. C. A. 1928.) Determination of Board of Tax Appeals that evidencedid not warrant exercise of discretion favorable to claim of trust companyfor deduction for losses and bad debts for profits-tax purposes underrevenue act, November 23, 1921, section 234 (a) (4) (5), 42 Stat. 254, andTreasury Regulations of 1922, articles 151, 155, because there was noevidence respecting losses over a period of years on which to predicate areasonable reserve for bad debts, held erroneous as matter of law, whereunusual conditions confronting banks generally during taxable year in-volved called for unusual measures. (Ib.)
Internal revenue—That corporate notes unexpectedly liquidated for larger sumthan holder believed possible when it filed profits tax return, held not controllingon question of reasonableness of bad debt-deduction. (Revenue act, 1921, sec. 23%(a) (4) (5).)
(U. S. C. C. A. 1928.) Where evidence clearly warranted trust company inconsidering its original investment of $98,000 in corporate notes as worthno more than $10,500 when it filed its profits-tax return for 1921, andclaimed deduction for bad debts under revenue act, November 23, 1921,section 234 (a) (4) (5), 42 Stat. 254, and Treasury Regulations of 1922,articles 151, 155, fact that such notes, through reorganization of corpora-tion under Federal receivership and special State legislation ultimately,but unexpectedly, liquidated for over $41,000 in 1925, had no controllingweight. (Ib.)
Internal revenue—Where taxpayer maintained reserve for bad debts, profits-taxdeductions should be charged as addition to reserve. (Revenue act 1921, sec. 234(a) (4) (5); Treasury Regulations of 1922, arts. 151, 155.)
(U. S. C. C. A. 1928.) Where taxpayer had "heretofore maintained re-serve" for bad debts subsequent deduction for bad debts, as matter oftechnically correct form, should have been charged as an addition toreserve for bad debts, under revenue act, November 23, 1921, section 234(a) (4) (5), 42 Stat. 254, and Treasury Regulations of 1922, articles 151,155. (Ib.)
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Internal revenue—District court can not review Internal Revenue Commissioner'sdetermination on application for refund through special assessment.
(U. S. D. C. 1929.) The district court can not review determination ofCommissioner of Internal Revenue on application for refund throughspecial assessment, whether such determination be for or against claimant.(National Park Bank of New York v. United States. 33 Fed. Rep. (2dseries) 1006.)
Mandamus—Commissioner of Internal Revenue's refusal to consider applicationfor special assessment for tax refund is reviewahle through mandamus in Districtof Columbia.
(U. S. D. C. 1929.) Refusal of Commissioner of Internal Revenue even toconsider application for a special assessment by taxpayers seeking refundof alleged overpayment of taxes is reviewable through mandamus pro-ceedings in District of Columbia. (Ib.)
TAXATION OF CONSOLIDATING BANKS
Internal revenue—State banks amalgamated to form new bank and said new bankheld not u affiliated corporations'' for tax purposes. (Revenue act, 1918, sec.HO (b).)
(D. C. App. 1929.) Where two State banks were amalgamated into newbank under agreement providing that stock of new bank was to be paidfor by old banks transferring to new bank approved tangible assets atcertain rate, that old banks were to retire immediately from bankingbusiness, liquidate their remaining assets, and procure dissolution ofcharters within five years, and that for purpose of agreement stockholdersof each old bank should appoint trustees, to whom they were to transferall their stock, trustees to vote stock as necessary to carry out agreement,and to distribute new stock to stockholders of old banks, held, that oldbanks and new bank were not "affiliated corporations," for tax purposes,within revenue act, 1918, section 240 (a) (b), 40 Stat. 10825 and Regula-tions 45, T. D. 3146, articles 631, 633. (Lafayette-South Side Bank v.Commissioner of Internal Revenue. 33 Fed. Rep. (2d series) 646.)
Internal revenue—Good will of two banks transferred to new bank held not "investedcapital1' for tax purposes. (Revenue act, 1918, sees. 325 (a), 326 (a), subsec. 4.J
(D. C. App. 1929.) Where two State banks amalgamated by transferringtheir assets, including good will, to new bank, under written agreementproviding that no valuation should be placed on good will transferred, andthat no stock was to be actually issued therefor, held, that value of goodwill could not be included in the "invested capital" account of the newbank, under revenue act, 1918, sections 325 (a), 326 (a), subsection 4 (40Stat. 1091, 1092). (Ib.)
Internal revenue—Good will of old banks transferred to new bank held not part of"paid-in surplus" for tax purposes. (Revenue act, 1918, sec. 326 (a), subsec. 3.)
(D. C. App. 1929.) Where two State banks amalgamated by transferringtheir assets, including good will, to new bank under written agreementproviding that no valuation should be placed on good will transferred, andthat no stock was to be actually issued therefor, held, that good will didnot constitute part of "paid-in surplus," under revenue act, 1918, section326 (a), subsection 3 (40 Stat. 1092), for tax purposes. (Ib.)
TAXATION UNDER DISTRICT OF COLUMBIA
District of Columbia—Act taxing 7iational bank's gross earnings held inapplicableto interest on tax-exempt Government bonds. (Act July 1, 1902, sec. 6, par. 5,32 Stat. 619, as amended by act March 3, 1917, 39 Siat. 1047; act April 24, 1917,sec. 1; 31 U. S. C. A. sec. 746.)
(Dist. Col. C. A. 1929.) Act July 1,1902, section 6, paragraph 5, 32 Stat. 619,as amended by act March 3, 1917, 39 Stat. 1047, imposing tax on grossearnings of national»banks in District of Columbia in lieu of all other taxeson personal property thereof, does not apply to interest on Governmentbonds and other evidences of public debt, exempt from taxation under actApril 24, 1917, section 1, 31 U. S. C. A., section 746, and other acts pro-viding for bond issues. (District of Columbia v. Riggs National Bank,30 Fed. Rep. (2d series), 873.)
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District of Columbia—Whether Congress may repudiate tax exemptions need not beconsidered in national bank's action to recover taxes paid on interest on Govern-ment bonds. (Act April 24, 1917, sec. 1; 31 U. S. C. A. sec. 746; act July 1,1902, sec. 6, par. 5; 32 Stat. 619, as amended by act March 3,1917, 39 Stat. 1047.)
(Dist. Col. C. A. 1929.) Whether Congress may repudiate exemptions fromtaxation in act April 24, 1917, section 1, 31 U. S. C. A., section 746, andother acts authorizing issuance of Government bonds within District ofColumbia, need not be considered in national bank's suit against Districtto recover taxes paid on interest on such bonds, under act July 1, 1902,section 6, paragraph 5, 32 Stat. 619, as amended by act March 3, 1917,39 Stat. 1047, there being nothing indicating such intention in language ofeither taxing act or bonding acts. (Ib.)
District of Columbia—Tax exemptions in bonding acts must be construed to limitpower under earlier act to tax national banks' gross earnings. (Act April 24> 1917,sec. 1; 31 U. S. C. A. sec. 746; act July 1, 1902, sec. 6, par. 5, 32 Stat. 619.)
(Dist. Col. C. A. 1929.) Act April 24, 1917, section 1, 31 U. S. C. A., section746, and other acts exempting bonds issued thereunder from taxation,having been passed long after act July 1, 1902, section 6, paragraph 5, 32Stat. 619, imposing tax on gross earnings of national banks in District ofColumbia, exceptions or exemptions in bonding acts must be construedto limit taxing power under earlier act. (Ib.)
District of Columbia—Statutes exempting bonds issued thereunder from taxation heldapplicable to District of Columbia, as well as States. (Act April 24,1917, sec. 1;31 U. S.C. A. sec. 746.)
(Dist. Col. C. A. 1929.) Act April 24, 1917, section 1, 31 U. S. C. A., section746, and other acts exempting both principal and interest of bonds issuedthereunder from all taxation, except estate or inheritance taxes, imposedby the United States, its possessions, or any State or local taxing authorityapply to the District of Columbia, as well as the States, and place alimitation on Congress, as well as State legislatures. (Ib.)
CITY TAXATION
Courts—Suit to enjoin city officers from collecting national bank tax held not one for% presentation to statutory court of three judges. (Laws N. Y., 1923, ch. 897; Rev.
St. sec. 5219, as amended by act March 4, 1923 [12 U. S. C. A. sec. 548]; Const.Amend. 14; Judicial Code, sec. 266 [28 U. S. C. A. sec. 380].)
(U. S. D. C. 1928.) Suit to enjoin receiver of taxes of the city of New Yorkand the city collector from collecting a tax on national bank stock, inaccordance with Laws of New York, 1923, chapter 897, on the groundthat such statute was in violation of Revised Statutes, section 5219, asamended by act March 4, 1923 (12 U. S. C. A., sec. 548), and Constitu-tional Amendment 14, held not to present a proper case for considera-tion by statutory court of three judges, under Judicial Code, section 266(28 U. S. C. A., sec. 380); the officers referred to in such law being ap-pointed by comptroller of the city, and having no duties except in collect-ing taxes levied by city assessing officers. (Public Nat. Bank of NewYork v. Keating, receiver of taxes, et al., 29 Fed. Rep. (2d series), 621.)
TRUSTSCROSS REFERENCE:
DEPOSITS— PageDEPOSIT OF TRUST FUNDS 163
Sales—Conditional seller, by permitting buyers to use as their own proceeds ofproperty sold, waived any right in or lien on proceeds.
(U. S. C. C. A. 1929.) Where buyers of equipment under conditional salescontract, after adding certain features, resold equipment, and received andused proceeds as their own property, with knowledge, consent, and ap-proval of conditional seller, who, because it considered buyers to be ingood financial condition, did not take assignment of contracts from sub-sequent purchasers, though buyers were ready and willing to make suchassignments, held that seller waived any right in or lien on proceeds, andwas in position of creditor of buyers on their bankruptcy. (In re Hollins& Arrouez Electric & Engineering Co., Allis-Chalmers Mfg. Co. v. Mooreet al., 31 Fed. Rep. (2d series), 50.)
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Trusts-—One claiming lien on fund on theory that trust funds have been wrongfullymingled therewith has burden of tracing trust moneys into such fund.
(U. S. C. C. A. 1929.) One claiming lien against a certain fund with whichtrust funds have been wrongfully mingled has burden of proof to tracetrust moneys into such fund, and, if he is unable to identify the funds asrepresenting proceeds of his property, his claim must fail. (Ib.)
Trusts—Lien on theory of tracing trust funds can not be impressed on property notenhanced or augmented thereby.
(U. S. C. C. A. 1929.) Lien on theory of tracing trust funds can not beimpressed on property which is not shown to have been enhanced oraugmented by the unlawful application. (Ib.)
Corpus of trust fund held not part of decedents estate subject to estate taxf not-withstanding reserved right to appoint remainderman by will and revoke trust withtrustee's consent; ugeneral power of appointment." (Taxing act, February 2J+,1919, sec. 402, 402 [e].)
(U. S. C. C. A. 1928.) Corpus of trust fund held not part of decedent's netestate subject to estate tax, within taxing act February 24, 1919, section402 (40 Stat. 1097), notwithstanding that decedent had reserved power toappoint remainderman by will, to and among his issue, and to revoke'trustwith trustee's consent, since "general power of appointment" in subdivi-sion (e) contemplates power with no restrictions. (Farmers' Loan &Trust Co. v. Bowers, collector of internal revenue, 29 Fed. Rep. (2dseries), 14.)
Trusts—Power to revoke trust is not property right.(XL S. C. C. A. 1928.) Power to revoke trust is not property right, nor an
interest in property. (Ib.)Trusts—Title passes and remains fixed, for purpose of t?*ust, notwithstanding right
to revoke.(U. S. C. C. A. 1928.) Title passes to donee, and remains fixed for purpose
of trust, notwithstanding right to revoke, and until such right is exercisedestate exists by virtue of transfer. (Ib.)
Trusts—Power to revoke trust is not transferable or descendible.(U. S. C. C. A. 1928.) Power to revoke trust is not transferable or descend-
ible, nor may it be alienated or passed by will, since it is personal to holder.(Ib.)
Trusts—Absolute power to revoke trust is equivalent to general power to appoint.(U. S. C. C. A. 1928.) Absolute and unconditional power to revoke trust is
treated as equivalent to general power to appoint. (Ib.)Drawing check on trust fund and depositing it in same bank to trustee's personal
credit is not misappropriation, nor notice to bank of such purpose.(XL S. C. C. A. 1928.) In absence of statute making it so, drawing of
check in due form on trust fund and depositing it in same bank to personalcredit of trustee is neither conversion or misappropriation of fund, nornotice to bank of any such purpose. (Maryland Casualty Co. v. CityNational Bank, 29 Fed. Rep. (2d series) 662.)
Trustee's payments to bank from account in which trust funds were commingled withprivate funds held not notice of intention to misappropriate trust fund.
(U. S. C. C. A. 1928.) Where trust funds are commingled with privatefunds in personal account of trustee, bank is not bound by its knowledgeof that fact to look to manner of their disbursement, and trustee's pay-ments to bank were not notice to it of his intention to misappropriatetrust funds. (Ib.)
Surety, paying county trustee's shortage, could sue bank for funds traced to its pos-session, or aiding in misappropriation, without seeking to surcharge settlement.
(U. S. C. C. A. 1928.) Where there was no controversy as to fact andamount of county trustee's shortage, which was not discovered till aftersettlements were made, county could, without seeking to surcharge settle-ments, sue bank for wrongfully aiding in misappropriation, or for such ofits funds as it could trace to possession of bank, and surety, which paidshortage, is entitled to subrogation to that right. (Ib.)
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Estoppel.—County, approving reports and settlements because of trustee's misrepre-sentations, held not estopped to recover funds from bank.
(U. S. C. C. A. 1928.) That commissioners of county made periodicalreports on trustee's account, on which settlements were made, did notconstitute estoppel, barring recovery from bank of county's funds tracedto its possession after trustee's shortage was discovered, where reports andsettlements were approved by county because of trustee's fraudulentmisrepresentations. (Ib.)
Surety, paying county trustee's shortage, may recover from bank trust funds tracedto its possession.
(U. S. C. C. A. 1928.) Surety, having paid shortage of county trustee, heldentitled to recover from bank any trust funds traced into its hands, asagainst contention that bank's title to funds paid to it by trustee wascomplete, under negotiable instruments act of Tennessee. (Acts 1899,ch. 94.) (Ib.)
Where trust and personal funds are commingled in personal account, check forpersonal obligation is presumably payable from trustee's own money.
(U. S. C C A . 1928.) Where trust funds have been commingled withpersonal funds in personal account, law presumes that drawer of checkfor personal obligation against account intends to make payment out ofhis own money. (Ib.)
To determine amount of trust money in joint account on given date, minimum bal-ance between such date and date of deposit is amount identifiable as trust fund.
(U. S. C C A. 1928.) When trust money has been deposited in jointaccount, and it must be determined how much remains on given date,minimum balance existing between that date and date of deposit is amountremaining and identifiable as trust fund, since, when trust fund has beenreduced, subsequent deposits of personal funds, without intention torestore trust fund, are not to be applied to such restoration. (Ib.)
Perpetuities—Validity of trust in lands under rule against perpetuities was deter-mined by law as it existed prior to donor's death in States in which lands werelocated.
(U. S. D. C 1928.) Validity of trust covering New York and Pennsylvanialands, as regards rule against perpetuities, was determined by commonlaw prevailing in the respective States prior to the death of the donor.(Carnahan et al. v. Peabody et al., 29 Fed. Rep. (2d series) 412.)
Perpetuities—Gift, on distribution of property after termination of 90-year trust,held void under rule against perpetuities.
(U. S. D. C 1928.) Gift under instrument placing donor's property in trustwith his partner for period of 90 years, "after which time said estate,together with the accumulations therefrom, shall be given to and dividedbetween the descendants of my two brothers," held void under ruleagainst perpetuities, because intentionally suspending vesting of remainderfor arbitrary 90-year period. (Ib.)
Trusts—Rule requiring application of donor's intention to trust overrides rules ofconstruction.
(U. S. D. C. 1928.) Rule requiring interpretation of trust according todonor's intention overrides all rules of construction. (Ib.)
Perpetuities—Trust fails where only purpose is accumulation for ultimate doneesprevented from taking by rule against perpetuities.
(U. S. D. C 1928.) Where only purpose of trust is accumulation for ulti-mate donees who are prevented from taking by rule against perpetuities,gift in trust fails. (Ib.)
WAREHOUSEMEN
. Warehousemen—Evidence sustained finding that pledgee took warehouse receipt forvalue in good faith, in replevin action by carrier to recover goods wrongfullydelivered.
(U. S. C. C. A. 1928.) In action by initial carrier, as assignee of draft andbill of lading, against pledgee of warehouse receipt, to recover possession
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of goods wrongfully delivered, evidence held to sustain finding that de-fendant took warehouse receipt for value in good faith and withoutnotice. (Southern Pac. Co. v. Bank of America, 29 Fed. Rep. (2d series)465.)
Replevin—Plaintiff's recovery in replevin depends on right to possession, thoughanother has title.
(U. S. C. C. A. 1928.) Replevin is possessory action in which recoverydepends upon right to possession, and plaintiff having right to possessionmay prevail, though title is in another. (Ib.)
Warehousemen—Initial carrier taking assignment of bill of lading issued by it,after connecting carrier's wrongful delivery to warehouseman, held not entitled toreplevin goods as against bona fide pledgee of warehouse receipt.
(U. S. C. C. A. 1928.) Initial carrier issuing bill of lading, of which it subse-quently took assignment together with draft, after connecting carrier'swrongful delivery, held not entitled to replevin the goods as against bonafide pledgee of warehouse receipt issued by warehouse company to whichgoods were delivered, since connecting carrier was plaintiff's agent anddefendant had superior right of possession. (Ib.)
Warehousemen—Initial carrier can not question possession of warehouseman, orgood-faith holders of warehouse receipt, after connecting carrier's wrongful deliveryto warehouseman.
(U. S. C. C. A. 1928.) Initial carrier is not entitled to question right ofpossession of warehouse company, or persons taking warehouse receipt ingood faith and without notice, after connecting carrier's wrongful deliveryto warehouse company, since delivery of possession was plaintiff'sdelivery. (Ib.)
Appeal and error—Assignments for benefit of creditors—Proceeding against debtor'sassignee for distribution of fund is equitable, and reviewing court may considersufficiency of evidence.
(U. S. C. C. A. 1929.) Proceeding by creditors for equitable distribution offund in hands of debtor's assignee is properly instituted in court of equity,and reviewing court is not precluded from considering sufficiency of evi-dence to support findings or judgment. (McDonnell v. Bank of Chinaet al., 33 Fed. Rep. (2d series) 816.)
Pledges—To constitute "pledge," pledgee must have possession and property mustbe under creditor's control.
(U. S. C. C. A. 1929.) It is essential, to constitute a "pledge," that thepledgee have possession of the thing pledged and that the property beunder power and control of the creditor, (Ib.)
Warehousemen—Transaction whereby debtor executed note and deposited flour ascollateral security constituted pledge, irrespective of whether property could beidentified.
(U. S. C. C. A. 1929.) Transaction whereby debtor executed note to ware-house company and deposited bags of flour as collateral security consti-tuted pledge, where warehouse company had possession thereof, irre-spective of whether property could be identified, or was part of generalmass at time pledge was made. (Ib.)
Warehousemen—Warehouse company, while retaining note, could not assert rightto flour as pledgee, as against holders of warehouse receipts.
(U. S. C. C. A. 1929.) Warehouse company, while it held note of pledger,could not assert right as pledgee in any of flour deposited with it as col-lateral security, as against holders of warehouse receipts, where there wasnot sufficient flour in storage to meet demands of all. (Ib.)
Warehousemen—Insolvent warehouse company, after transfer of right in flourpledged to it, held property as agent or bailee.
(U. S. C. C. A. 1929.) Insolvent warehouse company, taking pledge offlour in storage as collateral security for note, held flour as agent or baileefor one to whom it transferred its rights as pledgee. (Ib.)
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Warehousemen—Where insolvent warehouse company made assignment, holder ofreceipt covering pledged flour could participate with holders of warehouse receiptsin proceeds of flour without identifying pledged flour.
(U. S. C. C. A. 1929.) Where insolvent warehouse company, having suffi-cient flour in storage to satisfy outstanding warehouse receipts madeassignment of its property, holder of receipt covering flour pledged towarehouse company was entitled to participate in proceeds of sale offlour with holders of warehouse receipts, though pledged flour could notbe identified. (Ib.)
Warehousemen—Where insolvent warehouse gave receipt for flour pledged to it,question whether flour of certain brand came into possession of assignee of warehouseshould be determined before entering final decree for distribution of proceeds offlour.
(U. S. C. C. A. 1929.) Question whether flour of a certain brand came intopossession of assignee of insolvent warehouse company must be determinedbefore entering final decree for distribution of proceeds of flour amongholders of warehouse receipts, where certain flour was pledged to ware-house, and warehouse gave receipt for it and transferred its rights thereinto bank. (Ib.)
DECISIONS OF STATE COURTS
Mr. Thomas B. Paton, general counsel of American Bankers7 Asso-ciation, furnishes the following decisions of State courts of particularinterest to banks for the period from November 1, 1928, to October17, 1929, from the following reporters:
Atlantic Reporter 143, 144, 146, 147.Northeastern Reporter 99, 146, 164, 165, 166, 167.Northwestern Reporter 221, 222, 223, 224, 225, 226.Pacific Reporter 270, 271, 272, 273, 274, 275, 276, 277, 278, 279, 280.Southern Reporter 118, 119, 120, 121, 123.Southeastern Reporter 144, 145, 146, 147, 148.Southwestern Reporter (2d) 9, 10, 11, 12, 14, 15, 16, 17, 19.New York State 231, 232, 233, 234, 236.Ohio State reports 86.Five additional decisions are taken from the New York Law
Journal.In addition reference is made by Mr. Paton to Federal decisions in
the following reporters:Supreme Court Reporter 49.Federal Reporter (2d) 28, 29, 30, 31, 32, 33, 34.These decisions are arranged in accordance with the treatment of
the subject with which they are connected in Paton's Digest.The abbreviation " P . D." refers to Pa ton's Digest to which the
various decisions have been allocated.
ACCEPTANCE AND CERTIFICATION
ACCEPTANCE AND CERTIFICATION. Necessity of acceptance in writing citingPaton's Digest opinion 15. Bank of Magazine v. Friddle, 14 S. W. (2d)(Ark.) 238. P. D. 15.5.
ACCEPTANCE AND CERTIFICATION. Interpleader between holder and drawer ofcertified check who claims no consideration. Greenberg v. World ExchangeBank (by Noonan, J.). The New York Law Journal, page 1714, January11, 1929. P. D. 45.1.
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ACCEPTANCES—TRADE
NEGOTIABILITY WHERE STATEMENT IS THAT " obligation of the acceptor hereofarises out of the purchase of goods from drawee." Court notes that supremecourt refused a writ of error from case holding that negotiability was notaffected. Arrington v. Mercantile Protective Bureau, 15 S. W. (2d) (Tex.)663. P. D. 168.
ACCEPTANCES—TRADE—NEGOTIABILITY. Effect upon negotiability of: "Theobligation of the acceptor arises out of the purchase of goods from thedrawer."
"The only reasonable conclusion to be drawn from the face of these tradeacceptances is that their execution completed the contract between theparties and that the promise to pay was unqualified. We therefore concludethat the language of the obligation is no more than a statement of the con-sideration, or a reference to the origin, of the transaction, and did notdestroy the negotiability of the instruments."
Lane Co. v. Crum, 291 S. W. 1084, distinguished. "There is added inthe reported case the additional language, 'maturity being in conformitywith the original terms of purchase.'"* * * * * * *
"In the instant case the trade acceptances represent an unqualified prom-ise to pay a certain sum at a certain time; in the reported case, the tradeacceptances represent a promise to pay, qualified by an existing contractbetween the parties. We conclude, therefore, that the reported case is notcontrary to the holding in the instant case." American Exchange NationalBank v. Steeley, 10 S. W. (2d) 1038 (Tex.). P. D. 168.
ADMINISTRATION OF ESTATES
DEATH AND DECEDENT'S ESTATE. Authority of foreign corporation to act asadministrator. 280 P. (Nev.) 321. P. D. 1719.
BOOKS, INSPECTION OF
CONFIDENTIAL NATURE OF BANK RECORDS. "AS to the records of the accounts,the deposit and withdrawals, * * *. There is an implied obligation, asI see it, on the bank, to keep these from scrutiny until compelled by a courtof competent jurisdiction to do otherwise."* * * * * * *
"If the prosecutor can inspect the accounts of all policemen and theirwives, what is to prevent him from making any investigation into anyaccount of other individuals or classes which it may strike his fancy todelve into? The right of personal privacy would be gone, and the publicwould lose confidence in the institutions to which they intrusted theirassets " Brex v. Smith, 146 Atl. (N. J.) 34. P. D. 565.5.
BRANCHES
FOREIGN NATIONAL BANK MAINTAINING IN STATE, OFFICE SOLICITING BUSINESSAND GATHERING INFORMATION, HELD NOT "DOING BUSINESS" THEREINAND NOT SUBJECT TO STATE COURT'S JURISDICTION NOR SUABLE BY NON-RESIDENT (12 U. S. C. A. SEC. 24, SUBD. 7; GENERAL CORPORATION LAW,SEC. 47.) (City Court of N. Y. 1929.) National bank having its principalplace of business in California, and whose main business under 12 U. S. C, A.section 24, subdivision 7, was discounting and negotiating of commercialpaper; receiving deposits, buying and selling of exchange, coin, and bullion,loaning money on personal security, and obtaining, issuing, and circulatingof notes, none of which functions were performed by it in New York, whereit maintained office, solicited business, and gathered information, held"not doing business" in New York so as to be subject to service of processon its vice president in charge of New York office nor subject to suit bynonresident under General Corporation Law, section 47. (Raiola v. LosAngeles First Nat. Trust & Savings Bank. 233 N. Y. S. 301.) P. D. 498.5.
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CHECKS
CHECKS—CHECKS PAYABLE TO DRAWEE BANK—EFFECT OF SUCH ORDER. "Thechecks upon the bank, signed by the president and treasurer of the plaintiffin error, to pay to the order of the bank definite sums, were authority tothe bank to pay to itself such sums, and were not authority to the bank topay such sums to any one else, and therefore, with respect to the amountin which the sums of such checks exceeded the obligations of the plaintiff inerror to the bank, the bank still occupied the position of debtor to the plain-tiff in error, and its duties with reference to such excess were the dutiesimposed by its implied contract with the plaintiff in error to pay only uponthe order of the president and treasurer." Damascus Mfg. Co. v. UnionTrust Co., 164 N. E. (Ohio) 530. P. D. 1149.
CASHIER'S CHECK LOST IN GAMBLING. Validity in hands of holder in duecourse. Manufacturers' & Mechanics' Bank of Kansas City v. TwelfthStreet Bank, 16 S. W. (2d) (Mo.) 104. P. D. 1163.1.
PAYMENT—AMBIGIOTJS CHECK PUTTING DRAWEE BANK IN DILEMMA. Thecourt said: "By drawing these checks in the manner in which they did, thusrendering it uncertain from their terms whether they were for the benefit ofthe Manual Arts Co. of J. B. Tailer, and then delivering them into thepossession of the latter, the respondents placed it in the power of Tailer tomislead the bank in paying the money to him. In such a case the plaintiffsshould suffer for the wrongful acts of Tailer."
" I t is well settled that, where an instrument is uncertain as to its terms,it is to be construed most strongly against the party thereto who causedsuch uncertainty to exist." Couture v. Ocean Park Bank, 270 Pac. (Calif.)943. P. D. 1209.1.
CHECKS WITHOUT FUNDS. Payment of Check before trial. Postdated Checks.People v. Weaver, 274 Pac. (Calif.) 361. P. D. 1260.
PERSONAL USE OF FIDUCIARY CHECKS. Liability of bank where fiduciary drawscheck to himself personally and deposits it in his personal account, mis-appropriating proceeds by paying bank and otherwise. Maryland CasualtyCo. v. City National Bank, 29 Fed. (2d) 662. P. D. 1332.5.
CHECKS WITHOUT FUNDS. Kentucky 1928 and 1926 statutes held unconsti-tutional. Element of intent to defraud omitted. Imprisonment for debt."The act is a declaration by the commonwealth to one party to a contractualtransaction, whereby he had incurred a debt to the other, that unless hepays that debt he shall be arrested, tried, convicted, fined, and imprisonedat hard labor; and this obviously not for any taint of criminality in thetransaction out of which the debt arose. For this default, unless it is purgedby paying, before conviction, his debt to the prosecuting party, and theaccrued costs of putting this coercion upon him, the debtor may be im-prisoned. There is no pretense of punishing him for giving the paper ifthe preliminary notice or demand shall have the desired effect of extortingthe money he owes. If this fails he may be branded a felon under the guiseof punishing an act which is not criminal and which does not involve ab-stract criminality or the taint of moral turpitude, and which might up tothe very moment of conviction have been shorn of even its factitious crimi-nality by the payment of the obligation." Burnam v. Commonwealth,15 S. W. (2d) (Ky.) 256. Ward v. Commonwealth, 15 S. W. (2d) (Ky.)276. P. D. 1260.3.
CHECJKS WITHOUT FUNDS CRIMINAL LIABILITY OF CORPORATE OFFICER. " When acorporation issues its check in payment of a corporate debt owing to the payee,which check is not honored for lack of funds or credit, none of the officerswho signed it in their representative capacity may be prosecuted under section1292-a of the penal law, because none of them can be regarded as either amaker, drawer, utterer, or deliverer of the check." People v. Fleishman, 232N. Y. S. 187. P. D. 1271.1.
FIDUCIARY CHECKS. Payment of personal debt to drawee bank. Charge tofiduciary account of check signed in individual name. Paying cash tofiduciary on bearer check. Checks paid after notice of a misapplication.Massachusetts Bonding & Ins. Co. v. Standard Trust & Savings Bank, 166N. E. (111.) 123. P. D. 1307.1.
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Instrument made payable to "A, trustee" received in payment of personal debtof A in violation of trust. Notice of defect from form of instrument. Owensv. Nagel, 165 N. E. (111.) 165. P. D. 1307 Section 4 (2).
FIDUCIARY CHECKS. Draft by agent payable to bank other than drawee.Deposit of proceeds in personal account. Misapplication of trust funds insuch account. White-Dulany Co. v. Craigmont State Bank. 279 P. (Idaho)621. P. D. 1307, section 5.
PERSONAL USE OF FIDUCIARY CHECKS. Liability of depository bank, whichcredits to drawer's agent proceeds of check payable to such bank. Suchcheck as order on depository to place proceeds to drawer's credit. W. L.Chase & Co., Inc., v. Norfolk Nat. Bank of Commerce and Trusts, 145 S. E.(Va.) 725. P. D. 1330.6.
PERSONAL USE OF FIDUCIARY CHECKS.—Fiduciary's check to personal orderdeposited to his individual account and misapplied. Oregon statute. NewAmsterdam Casualty Co. v. Robertson. 278 Pac. (Oreg.) 963. P. D. 1331.5.
OVERDRAFTS
" When a bundle of checks is presented through a clearing house, all must be paidor none. The payer bank is not entitled to select checks for payment, iffunds to pay all are insufficient." Louisville & N. R. Co. v. Federal ReserveBank of Atlanta, 10 S. W. (2d) 683. P. D. 3751.5. (Inconsistent withopinions in digest.)
" Checks must be paid in the order in which they are presented. No payee has aright to demand that his check be given priority over a check that came infor payment earlier." Louisville & N. R. Co. v. Federal Reserve Bank ofAtlanta, 10 S. W. (2d) 683. P. D. 3754.5.
FINALITY OF PAYMENT OF CHECK GENERALLY. A check was paid notwithstand-ing a stop order. The reason was statements over the telephone by the bankto the holder. " I t elected to pay the check, and the transaction is closed.When the check was paid it became dead to the commercial world, mereevidence of a past transaction or indebtedness that had become extinguishedby payment. The payment, under the circumstances, was purely a volun-tary act on the part of the bank, and it can not recover the funds so paid outfrom the original payee, Russell, or anyone else." Huffman v. Farmer'sNational Bank of Cross Plains, 10 S. W. (2d) (Tex.) 753. P. D. 3764.6.
CHECKS
STOPPING PAYMENT OF CHECK. EQUITABLE PURCHASER. A drawee bank feltbound by statements over the telephone to the holder and consequentlyrefused to obey a stop order. The court held the payment purely voluntaryso as not to give the drawee any rights over against the parties to the check.Huffman v. Farmers' National Bank of Cross Plains, 10 S. W. (2d) (Tex.) 753.P. D. 4519.5.
STOPPING PAYMENT. Protection of bank by stop-payment agreement. Gaita v.Windsor Bank, 167 N. E. (N. Y.) 203. P. D. 4463.5. (This decision goesvery far in protecting the bank.)
COLLATERALPLEDGE AND COLLATERAL. Negotiability of collateral note with acceleration
provisions, etc. City National Bank v. Roberts, 165 N. E. (Mass.) 470.P. D. 3826.5.
Right of transferee of note to hold collateral for general indebtedness of party oforiginal note to it. Suggestion that collateral note form include provisionprotecting transferee in this respect. Stover Bank v. Welpman, 19 S. W.(2d) (Mo.) 740. P. D. 3891.8.
Loan of credit pledge of collateral for benefit of third person—Transfer of assetsof insolvent national banks. Federal Intermediate Credit Bank of Omahav. L'Herisson, 33 F. (2d) 841. P. D. 736.5.
79003°—30 15
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PLEDGE AND COLLATERAL. Pledge for general indebtedness of pledgor—Inclusionof obligation on which he is jointly liable with another—Right of transfereeof note and collateral to hold collateral for general indebtedness of pledgorto him. 34 F. (2d) 334, modified in other respects, 34 F. (2d) 344. P. D.3891.9.
Note extra copy filed under 3816, with notation that form should specifi-cally include joint obligation of pledgor.
COLLECTIONS
COLLECTION. California bank collection statute construed. Anthony v.Crocker First National Bank, 272 Pac. (Calif.) 767. P. D. 1416.4.
Construction of Georgia statute giving priority for unpaid collection items.Kuniansky v. Mobley, 146 S. E. (Ga.) 898. P. D. 1416.4.
Application of collection agreement to deposit of public funds. Shambaugh v.City Bank of Elm Creek. 226 N. W. (Nebr.) 460. P. D. 1446.10.
Collection " credited subject to final payment." What constitutes final payment?Haas v. Opelousas St. Landry Bank & Trust Co., 119 So. (La.) 372. P. D.1447.
Bank as holder in due course for value of item deposited for collection when itpermits the depositor to withdraw the credit. Bath National Bank v. Ely N.Sonnenstrahl, 164 N. E. (N. Y.) 327. P. D. 1461.
Liability for default of correspondent—Massachusetts rule in Louisiana.(Listed as outstanding case because P. D. lists Louisiana under New Yorkrule.) Haas v. Opelousas St. Landry Bank & Trust Co., 119 So. (La.) 372.P. D. 1471.
Forwarding direct—Bank draft in payment—Custom—Banking customs gen-erally—Collection agreement—charging item back; deposit by publicofficer—statutes affecting collection. Adams County v. Meadows ValleyBank, 277 Pac. (Idaho) 575. P. D. 1471.7,
Liability of bank for selecting Federal reserve bank as correspondent in view ofpractice of latter to forward direct. " I t would be too strong a thing to saythat a national bank is guilty of negligence in clearing through a Federal reservebank, particularly when the testimony of the officers of the national bankshowed that such officers were not advised as to the particular methodemployed by the Federal reserve bank in making collections." Louisville& N. R. Co. v. Federal Reserve Bank of Atlanta, 10 S. W. (2d) 683. P. D.1481.6.
Compare last paragraph of 1481a. How can a national bank disavow knowledgeof practice of Federal reserve bank to forward direct?
FORWARDING DIRECT. Distinction between sending to drawee bank and tobank at which item is made payable. Garrett v. Merchants' Bank & TrustCo., 118 So. (Miss.) 540. P. D. 1483.7.
FORWARDING DIRECT—NEGLIGENCE. Collection bank not liable for forwardingdirect where drawee bank did not have sufficient cash to pay check afterpaying checks previously presented. Louisville & N. R. Co. v. FederalReserve Bank of Atlanta, 10 S. W. (2d) 683. P. D. 1483.8.
RECEIPT OF DRAFT OR CASHIER'S CHECK IN PAYMENT—EFFECT OF CUSTOM."The great mass of business to-day is transacted on exchange, and notwith actual money. To require a collecting bank which, for the accom-modation of a patron, has undertaken to collect for him a check or othercommercial paper which he has left with it for that purpose, to acceptnothing but legal tender, otherwise to assume all hazard attending thecollection, would place not only on the bank, but on business generally, arequirement attended by great inconvenience and delay, and accompaniedby greatly increased expense of collection. It would be impracticable andnot in harmony with the trend of modern business. The custom prevailingamong banking institutions of transacting business by means of checks,credits, and exchanges is of such general and universal nature that courts takejudicial notice thereof. Hilsinger v. Trickett, 86 Ohio St. 286, 99 N. E. 305,Ann. Cas. 1913D, 421." Cattaruza v. First National Bank of Williamson,146 S. E. (W. Va.) 393. P. D. 1554.4.
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RECEIVING DEAFT IN PAYMENT. Custom. Ignorance by depositor of custom.Humble Oil & Refining Co. v. Wichita State Bank & Trust Co., U S . W.(2d) (Tex.) 644. P. D. 1554.4.
ACCEPTANCE OF DRAFT IN LIEU OF CASH. Authorizing statute. NorthCarolina. M. C. Braswell (Inc.), v. Citizens' National Bank of Raleigh,148 S. E. (N. C.) 236. P. D. 1557.3.
ACCEPTANCE OF DRAFT IN PAYMENT AS AUTHORIZED BY STATUTE. Risk ofpayment of draft on holder or on drawer. Morris v. National Bank ofNew Bern, 148 S. E. (N. C.) 253. P. D. 1568.2.
WHAT CONSTITUTES PAYMENT OF CHECK BY DRAWEE BANK. Marking "paid,"charging to drawer's account and sending of remittance draft. Insufficiencyof cash on hand and on deposit with drawee of draft to pay check or draft.Insolvent drawee bank. Moore & Dawson v. Highway Engineering &Construction Co., 144 S. E. (N. C.) 692. P. D. 1573.
AMOUNT OF WRONGFULLY DISHONORED CHECK AS TRUST FUND. HOW far isruling dependent on minority rule that there is a trust fund when draweebank collects check upon itself? Johnson v. Farmers' Bank of Clarksdale,11 S. W. (2d) (Mo.) 1090. P. D. 1589.1.
COLLECTION OF CHECK BY DRAWEE BANK FROM ITSELF. Trust fund on insol-vency. Kansas. Griffith v. Burlington State Bank, 277 Pac. (Kans.) 42.P." D. 1589.5.
TRUST FUND WHERE ITEM PAID BY CHECK ON COLLECTING BANK. Trust fundrelation prior to remittance. Trust fund where collection by drawee bank.Sinclair Refining Co. v. Tierney, 270 Pac. (N. Mex.) 792. P. D. 1589.5.
CHECK FOR DEBTOR BALANCE ON CLEARING AS PREFERRED CLAIM. Farmers'Bank of Bowling Green v. Cantley, 16 S. W. (2d) (Mo.) 642. P. D. 1590.
Trust fund where collecting bank received payment in checks upon itself re-ceived in clearings. Bauck v. Veigel, 225 N. W. (Minn.) 916. P. D. 1595.6.
TRUST FUND ON INSOLVENCY. Tracing trust fund. People's State Bank ofLe Roy v. Burlington State Bank, 277 Pac. (Kans.) 39. P. D. 1610.3.
Liability of collecting bank dependent upon actual damage resulting from neg-ligence. Louisville & N. R. Co. v. Federal Reserve Bank of Atlanta, 10S. W. (2d) 683. P. D. 1619.3.
COLLECTION. Federal reserve bank as collection agent. Checks forwardeddirectly to drawee bank and charged to drawer's account. Chargingamount to drawee's reserve account with Federal reserve bank. Set-offby Federal reserve bank of amount due by drawee bank against proceeds ofits stock in the Federal reserve bank. Federal Reserve Bank of Richmond,appellant, v. Thos. A. Early, receiver of the Farmers and Merchants NationalBank of Lake City, appellee. No. 2750. Circuit Court of Appeals for theFourth Circuit. P. D. 1127.1 on page 872. 30 F. (2d) 198. Reported inthe United States Daily, March 2, 1929, page 3216. P. D. 1127.1 on page872.
COLLECTION. Independent legislation. Minnesota. Provision that depositorybank becomes agent for collection. Binding effect of statute upon publicofficer as depositor. Schram v. Askegaard, 34 F. (2d) (Minn.) 348. P. D.1416.4.
CONTRACTS
ARBITRATION. Power of municipal, quasi-municipal, and private corporationsto agree to arbitrate. Attitude of courts toward arbitration. "Where acorporation, whether public or private, is not expressly prohibited fromsubmitting certain matters of this kind to arbitration, and where suchcorporations have the power to sue and to be sued, arbitration may beresorted to. Such arbitration provisions in a contract are in harmony withthe modern tendency of the law which is designed to avoid as much as possiblelitigation in courts; and they also serve the purpose of procuring a speedydetermination when litigation results. Arbitration should therefore beencouraged, rather than discouraged." In re Lower Baraboo River Drain-age Dist., 225 N. W. (Wis.) 331. P. D. 1627.
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CORPORATION
CORPORATION. Affiliated institutions. Notice to corporation as notice toaffiliated institution. Filing of by-law requiring countersignature tocorporate check. "Having thus enjoyed the advantages and benefits ofthe identity of stockholders and unity of ownership, they ought not to beheard to assert the corporate fiction of their separate entity to the dis-advantage of a customer whom they had thus invited to disregard the fiction."Damascus Mfg. Co. v. Union Trust Co., 164 N. E. (Ohio) 530. P. D. 1654.5.
DEPOSITS
DEPOSITS. Deposits outside of bank. Receipt by bank officer who makes pass-book entry in compliance with usual practice. Liability of bank for robberybefore deposit taken to bank. Effect of statute prohibiting receipt ofdeposits outside of bank. Wellston Trust Co. v. American Surety Co. ofNew York, 14 S. W. (2d) (Mo.) 23. P. D. 1778.5.
PERSONAL. Liability of bank officer who induces depositor not to withdrawby fraudulent oral statement as to bank's solvency. Smith v. Vandiver,147 S. E. (S. C.) 645. P. D. 1781.4.
PUBLIC FUNDS. Power of depository State bank to pledge assets to secure.Recovery of collateral by receiver of insolvent bank. Applicability ofdefense of ultra vires where transaction fully executed. Farmers' StateBank v. County of Marshall, 221 N. W. (Minn.) 242. P. D. 1804.
PUBLIC FUNDS. Power to pledge assets to secure and to secure deposits generally(valuable collection of authorities). Pledge of assets left for safekeeping;rights as between owners of negotiable paper and pledgee. CommercialGuaranty State Bank v. City of Longview, 11 S. W. (2d) (Tex.) 217. P. D.1804.5.
DEPOSITS IN TWO NAMES. ULTIMATE TITLE. SURVIVORSHIP. Refusal tofollow rule of Garland's Appeal, 126 Mo. 84, 136 A. 459. Burns v. Nolette,144 Atl. (N. H.) 848. P. D. 1832.5.
DEPOSITS IN TWO NAMES. CREATION OF JOINT TENANCY. Revocation by deposi-tor of interest of other person in whose name also deposit is made. New Yorkstatutes. Moskowitz v. Marrow, 167 N. E. (N. Y.) 506. P. D. 1845.2.
DEPOSITS IN TWO NAMES. ULTIMATE TITLE IN SURVIVOR, "or." "Theword 'or ' " in title to bank account "negatives the idea of joint tenancy,"with its resultant title in survivor. Boyle v. National Union Bank of Dover,144 Atl. (N. J.) 10. P. D 1850.2.
DEPOSITS
SET-OFF. Outlawed note held by bank. Michigan statute. Merritt v. Peter-son, 222 N. W. (Iowa) 853. P. D. 4321.1.
DEPOSIT BY COMMISSION MERCHANT. Implied notice of third person's ownershipof deposit. Gillen v. Wakefield State Bank, 224 N. W. (Mich.) 761. P. D.4358.5.
SAFE DEPOSIT AND SAFE-KEEPING. Liability of bank' for misappropriation bycashier. "We recognize that the result of this decision is to put a veryconsiderable burden upon banks in the conduct of their business. However,banks hold very responsible positions of trust, and it is not expecting toomuch of them to protect in every reasonable way the property of theircustomers committed to their care. They select their own servants andofficers, and the law holds them responsible for the acts of their agents withinthe range of their authority. The bank may, and usually does, protectitself by bonding its employees. But it should do more. I t should verycarefully supervise such agents and make frequent inspection, full andcomplete, to guard against dishonesty or carelessness of its agents. Thebank should also understand that an agent not only has the authorityactually given him under the resolutions of the directors, but the bank maybe bound, under some circumstances, by the agent's apparent authority.In no other way may a confiding public be protected." Stevenson v.Columbia Bank of Lodi, 221 N. W. (Wis.) 753. P. D. 4225.
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CERTIFICATE OF DEPOSIT
DEPOSITS IN TWO NAMES. Application of statute where certificate of depositrecites deposit by one person, payable to himself and another. Such depositas creating merely an agency to withdraw revocable by death. " There is adistinction between those in which the account was opened or placed in thenames of the depositor and another and those in which a person other thanthe original owner was merely authorized to draw on the deposit. Casesdiscussing the effect of a joint deposit in the names of the original owner andanother generally refer to those in whose names the account appears on thebooks of the bank as joint tenants or tenants in common of the fund. Aninteresting collection of decisions on this subject appears in the annotationsubjoined to Parrish v. Merchants & M. Sav. Bank, L. R. A. 1917C, 548, 550.In our case these decisions are not controlling for the reason that the depositwas made in the name of only one person."
This decision raises question: Shall recommended draft of deposit in two namesstatute be modified? A form which would include the certificate of depositin this case (and also deposits payable to more than two persons) reads:"When a deposit, including a deposit evidenced by a certificate of deposit,has been made or shall hereafter be made in any (specify institutions)transacting business in this State payable to either of two persons or to anyone of more than two persons, with or without a reference to the survivoror survivors in either case, such deposit * *. * may be paid to either orany of said persons whether the other or others be living or not * * * #»This form .also specifically mentions certificates of deposit which avoids anydoubt as to the application of the statute to such instrument. Jones v.Fullbright, 148 S. E. (N. C.) 229. P. D. 1089.1.
Application to payee of certificate of deposit of rule that bank must knowsignature of customers, citing Paton's Digest, Opinions 1095, 1096, 2305,2304a and 2305a. Moler v. State Bank, 223 N. W. (Minn.) 780. P. D.1095.5.
FORGED OR ALTERED PAPER.
ALTERED AND RAISED PAPER. Negligence of drawer; addition by employee ofinitial of payee; negligence of bank in paying employee without inquiry asto identity of payee. Gutfreund v. East River Nat. Bank, 167 N. E. (N. Y.)171. P. D. 323.6.
ALTERED AND RAISED PAPER. Negligent execution facilitating alteration. Posi-tion that former conflict of authority was resolved by section 124 of negotiableinstruments act providing that "when an instrument has been materiallyaltered and is in the hands of a holder in due course, not a party to thealteration, he may enforce payment thereof according to its original tenor."Recovery by holder in due course according to original tenor, notwithstandingnegligent execution. The court said: "Unless the statute is given thisconstruction it fails of its dominant purpose—to establish a uniform rule ofliability—and ceases to be a uniform negotiable instrument act." Laseterv. Hill, 118 So. (Ala.) 252. P. D. 328.
ALTERED AND RAISED PAPER. Manifest alteration. Recovery by holder in duecourse on note as altered. Payee's name erased. Making interest payablefrom date instead of from maturity. " I , we, or either of us added." Fillingblanks. Saxon v. Me Gill, 16 S. W. (2d) (Ark.) 987. P. D. 366.
FORGED PAPER. Application of forged and raised check state requiring noticeor suit within stated time to forged indorsement. Atwell v. MercantileTrust Co. of California, 272 Pac. (Cal.) 799. P. D. 2033.
Recovery of money paid on unauthorized indorsement; clearing house rule as toeffect of indorsement; application of forged and raised check statute toforged indorsement. Merchants' National Bank of Los Angeles v. Con-tinental National Bank of Los Angeles, 277 Pac. (Cal.) 354. P. D. 2201.6.
Instrument payable to "estate of ," as payable to bearer. Hansen v.Northwestern Nat. Bank of Minneapolis, 221 "N. W. (Minn.) 873. P. D.2263.6.
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Fraudulent issue by cashier of certificate of deposit. Estoppel of bank. Re-covery by good faith holder of nonnegotiable certificate of damages incurred."They were forgeries of no value as commercial paper in any body's handswhether holders in due course or otherwise. The bank is not liable on thecertificates, but is liable for the damage done by them." (Quoted fromp. 943.) Citizens' State Bank v. Security Bank of Tyndall, 222 N. W.(S. Dak.) 932. Bank of Avon v. Smith, 222 N. W. (S. Dak.) 936. MennoState Bank v. Security Bank of Tyndall, 222 N. W. (S. Dak.) 938. Schelskev. Smith, 222 N. W. (S. Dak.) 941. Tripp v. Smith, 222 N. W. (S. Dak.) 943.Yankton College v. F. R. Smith, 222 N. W. (S. Dak.) 946. P. D. 2311.
WHAT CONSTITUTES FORGERY. Signature purporting to be that of agent orofficer, but unauthorized. Forgery insurance. Dexter Horton Nat. Bankof Seattle v. United States Fidelity & Guaranty Co., 270 Pac. (Wash.) 799.P. D. 2404.1.
FRAUD AND CRIMES. Robbery with -dangerous weapon. Virginia statute up-held which provides death penalty or in discretion of jury 8 to 18 yearsimprisonment.' Brookman v. Commonwealth, 145 S. E. (Va.) 358. P. D.2366.1.
INSOLVENCY AND RECEIVERS
INSOLVENT NATIONAL BANKS
JURISDICTION
Suit in State court brought against national bank, which thereafter failed can notbe removed to Federal court where plaintiff does not join receiver nor seekany relief against him. Such suit will not affect receiver^ possession ofproperty claimed by another. Barons v. First National Bank of Plainville,Kans., 28 Fed. (2d) 615. P. D. 1606.5.
INSOLVENT STATE BANKS
STATE BANKING DEPARTMENTS. Liability of examiner and his surety for notdiscovering and reporting insolvency of bank. State v. Turner, 17 S. W.(Mo.) 986 P. D. 1023.9.
INSURANCEROBBERY INSURANCE. Deposit received outside of bank in violation of express
statutory prohibition. (Surety company might contest its liability on theground that its rates were fixed on the basis of legal practices only and thatit knew that banks could not legally send messengers after deposits. Shallwe ask American Surety Co. whether case has been appealed?) WellstonTrust Co. v. American Surety Company of New York, 14 S. W. (2d) (Mo.)23. P. D. 2847.3>i
SIGNATURE. "Per ," as forgery. Bank of Detroit v. Standard Ace.Ins. Co., 222 N. W. (Mich.) 134. P. D. 2859.8.
LIFE INSURANCE TRUSTINHERITANCE TAX
A transfer of property, formerly consisting of proceeds of life insurance, by atrust agreement intended to take effect at or after the death of the donor,constitutes a taxable transfer within the meaning of the transfer inheritancetax act, P. L. 1909, p. 325, and amendments. Fagan v. Bugbee, Comp-troller (N. J. Sup., 1928) 143 Atl. Rep., 807. P. D. 2871.5%.
INSURANCE TRUST. Inheritance tax where insurance made payable to trusteewith right to revoke or alter trust instrument. In re Haedrich's Estate,236 N. Y. S. 395. P. D. 2871.5>i
INTEREST AND USURY
INDUSTRIAL LOAN DEPARTMENTS. Usury. Although not directly involved,decision is valuable one on question of usury in connection with industrialloan department. A savings society loaned $300 for one year and retained$30, paying over $270. The borrower purchased a 4 per cent installmentcertificate for $300 payable in 10 equal monthly installments of $30 each.The transaction was upheld. Simpson v. Smith Sav. Soc, 12 S. W. (2d)890. P. D. 2834.7.
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INTEREST AND USURY. Small loan law—constitutionality. State v. Hill, 123So. (La.) 317. P. D. 2871.6,
STATUTE LIMITING RATE OP INTEREST ON BANK DEPOSITS. Validity. Appli-cation to national banks. Effect of existing contract to pay higher rate.Holland v. Nakdimen, 9 S. W. (2d) (Ark.) 307. P. D. 2875.6.
JURISDICTION
Action against national bank must be brought in place where its bank is "located."(12 U. S. C. A. sec. 94.) (City court of N. Y. 1929.) Under 12 U.S. C. A.,section 94, providing that actions against national banks may be had in anydistrict court of United States within district in which bank may be estab-lished, or in State court in county or city in wThich bank is located havingjurisdiction in similar cases, action against a national bank must be broughtin the place where its bank is "located," which is the place specified in itsorganization certificate. (Raiola v, Los Angeles First Nat. Trust & SavingsBank. 233 N. Y. S. 301.)
COURTS. Decisions of Federal courts construing Federal statute are controllingon State courts. (City court of N. Y. 1929.) The decisions of Federalcourts construing Federal statute are controlling on State courts, wheremeaning of Federal statute is to be ascertained. (Ib.)
NOTE.—Decision is contra to P. D. 757.
LOST OR STOLEN PAPER
LOST OR STOLEN PAPER. Blank' Traveler's checks stolen. Liability of draweeto holder in due course. City National Bank of Galveston v. AmericanExpress Co., 16 S. W. (2d) (Tex.) 278. P. D. 3148.1.
MORTGAGES AND LIENS
MORTAGES AND LIENS. Rights and liabilities of trustee of deed of trust.Release of security while obligations outstanding. Protection by indemnityto trustee issuing duplicate bonds. Harvey v. Guaranty Trust Co., N. Y.L. J., April 25, 1929, page 450. P. D. 3194.2.
CHATTELS. Indebtedness secured. Specific note mentioned. General clauseextending security to liability "now existing." Other existing notes notincluded. "Irrespective of stereotyped or general printed provisionsappearing in a contract, the literal or sweeping terms of a contract maynever prevail over what appears to the court to be the rational and generalintent of the parties thereto." The warning from this decision and thesimilar one of St. Lucie County Bank & Trust Co. v. Aglin, 114 So. (Fla.1927) 438, is not to put too much trust in printed forms. To remove doubtas to enforcement they should be short, clear, and in ho way inconsistentwith the words written in. First Nat. Bank of Ardmore v. Gillam, 273 Pac.(Okla.) 261. P. D. 3206.1.
CHATTEL MORTGAGES. Holder in due course of note as subject to defensesto chattel mortgage securing it. Singer v. National Bank & Investment Co.,118 So. (Ala.) 561. P. D. 3321.1.
FEDERAL TAX LIENS. Notice of Federal tax lien duly filed and recordedoperates as lien on bank deposits of taxpayer, although bank is not servedwith notice. Memorandum 5432, General Counsel, Bureau of InternalRevenue. U. S. Daily, January 11, 1929. P. D. 3346.4J4
NEGOTIABLE PAPER
BONDS. Negotiability. Compliance with statutory requirements. Expressstatement of negotiability. Reference to extrinsic instrument. "Subjectto." Construction in favor of negotiability. Acceleration provisions.Option to redeem. Payable to bearer or, if registered, to registered holder.Provision for sinking fund. Enoch v. Brandon, 164 N. E. (N. Y.) 45.P. D. 3434.
Purchaser of several notes of a series, some of which are overdue. Status asholder in due course of unmatured notes. Hobart M. Cable Co. v. Bruce,274 Pac. (Okla.) 665. P. D. 3648.1.
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NOTES AND ACCEPTANCES PAYABLE AT BANK
CEHTIFICATION OF NOTE PAYABLE AT BANK. Court assumes without discussionthat same rules apply as to certification of check. Greenberg v. WorldExchange Bank (By Noonan, J.) The New York Law Journal, page 1714,January 11, 1929. P. D. 3742.1.
Release of maker where bank at which note payable fails after maturity andbefore note is presented. Federal Intermediate Credit Bank v. Epstin,148 S. E. (S. C.) 713. P. D.3743.
HOLDER IN DUE COURSE
Bank crediting instrument as deposit as holder "for value"; where depositorexecutes note to bank. Colorado Nat. Bank v. Western Grain Co., 118 So.(Ala.) 588. P. D. 2443.5.
Bank credit as " value." Withdrawal of account after maturity and after givingof renewal note. New Jersey Title Guarantee & Trust Co. v. McGrath,224 N. W. (Mich.) 755. P. D. 2444.6.
OFFICERS
BANK OFFICERS, DIRECTORS, AND EMPLOYEES. Regulation by State bankingdepartment of personnel of bank. Notice by bank department forbidding"any party to enter into the bank in an executive capacity" without ap-proval of department. (Court assumes notice valid; bank's capital wasimpaired.) [Participation by banks in selection of State banking board, seeNebr., 1923, c. 191, page 438.] Killeen v. Doran, 226 N. W. (Nebr.) 435.P. D. 762.7>i
Liability of bank directors for embezzlement by bank officers. Degree of carerequired. Sternberg v. Blaine, 17 S. W. (2d) (Ark.) 286. P. D. 779.5.
BANK OFFICERS, DIRECTORS, AND EMPLOYEES. National banks. Director'sliability. Detailed consideration of many phases of director's liability.Gamble v. Brown, 29 Fed. (2d) 366. P. D. 797.5.
BONDS OF OFFICES
INSURANCE. Fidelity insurance. Time of "loss"; concealment of loss by ma-nipulation of books. American Surety Co. of New York v. North TexasNational Bank, 14 S. W. (2d) (Tex.) 88. P. D. 2835.7.
FIDELITY BOND. "A bond for the faithful performance of the duties of a cashierof a bank is a security for competent skill and ordinary diligence, as wellas for integrity in the discharge of the duties of the office. And, in anaction upon such bond, an allegation that the cashier, as such, has receivedmoney for which he has not accounted, is a sufficient assignment of a breach."Sparta State Bank v. Myers, 165 N. E. (Ind.) 439. P. D. 2842.1.
"Securities blanket policy"; covering loss from having "taken" forged collateralduring term of policy does not cover loss upon forged security taken beforesuch policy takes effect although forgery not discovered nor loss realizeduntil thereafter. Kimbell Trust & Savings Bank v. Hartford Accident &Indemnity Co., 164 N. E. (111.) 661. P. D. 2859.2.
FORGERY POLICY. Unauthorized indorsement of corporate name by officer fol-lowed by his own name as officer as forgery. Schramm v. MetropolitanCasualty Insurance Co. of New York, 231 N. Y. S. 554. P. D. 2859.9.
LIABILITY FOR EXCESS LOANS
DIRECTOR'S LIABILITY FOR EXCESS LOANS. Effect of lack of knowledge. Im-putation of knowledge. Amount of liability. Amount of liability on re-newal excessive loan. Nature of renewal as new loan or merety extensionof time. Accrued interest as making renewal note excessive. What con-stitutes "money borrowed." Husband and wife as one borrower. Loan toA for benefit of B. Disregard of small amount of excess. McRoberts v.Spaudling, 32 Fed (2d) 315. P. D. 801.4&
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PRESENTMENT, PROTEST, AND NOTICE
PRESENTMENT, PROTEST, AND NOTICE. Time for presentment of check. Holdingcheck for next day's clearing. George H. McFadden Bros. Agency v.Keesee, 16 S. W. (2d) (Ark.) 994. P. D. 3973.2.
Necessity of presentment on next business day where check delivered in placewhere drawee located; payee's bank located in another place. Circuitousrouting. Mclntyre v. Live Stock Shipping Association, 11 S. W. (2d) (Mo.)77. P. D. 3973.3.
Promise to pay at future date on presentation of demand note as dishonor, re-quiring immediate notice of dishonor as condition to nondischarge of in-dorser. Bredow v. Woll, 143 Atl. (Conn.) 849. P. D. 4116.2.
SHAREHOLDERSBANK STOCK AND STOCKHOLDERS. Double liability. Decrease of liability by
reduction of capital stock. Mitchell v. Banking Corporation of Montana,273 Pac. (Mont.) 1055. P. D. 839.
TAXATION
FEDERAL TAXATION
Exemption of building and loan associations from Federal income tax. Liberalconstruction of such exemption. United States v. Cambridge Loan &Building Co., 49 S. Ct. 39. P. D. 4571.
Income tax charging off doubtful claims as bad debts. American Trust Co. v.Commissioner of Internal Revenue, 31 Fed. (2d) 47. P. D. 4582.1.
DISTRICT OF COLUMBIA
Gross earnings tax on District of Columbia banks does not include income fromtax-exempt Federal securities. District of Columbia v. Riggs NationalBank, 30 F. (2d) 873. P. D. 4625.3.
STATE TAXATION
FLORIDA
STATE TAXATION OF NATIONAL BANKS. Florida constitutional amendment of1924. As amended in 1924, section 1 of article 9 of the Florida Constitution,reads in part as follows: "The legislature shall provide for a uniform andequal rate of taxation (except that it may provide for special rate or rateson intangible property, but such special rate or rates shall not exceed 5 millson the dollar of the assessed valuation of such intangible property, whichspecial rate or rates, of the taxes collected therefrom, may be apportioned bythe legislature, and shall be exclusive of all other State, county, district, andmunicipal taxes;) * * * ."
The court said: *' The amendment is not self-executing or mandatory, butmerely confers upon the legislature permissive authority to provide for specialrates of taxation on intangible property, though the amendment contains amandatory limitation as to special rates of taxation when such special ratesare duly provided for on intangible property. Therefore, until the legislaturedoes duly provide for special tax rate or rates on intangible property, theorganic general rule of uniformity and equality in the rate of taxation of allproperty, real and personal, including intangible property, remains in force.When, however, the permissive authority conferred upon the legislature isexercised and provision is duly made by the legislature for special rates oftaxation on intangible property, the rate or rates ' shall not exceed 5 millson the dollar of the assessed valuation of such intangible property/ eventhough the tax rate on other classes of property be greater. * * *.
"The legislature has not exercised the permissive authority conferred uponit to provide for special rates of taxation on intangible property; thereforethe statute requiring all public stocks or shares in all incorporated or unin-corporated companies to be assessed as other personal property, is the controll-ing law when applied as the constitution requires." Porter v. First NationalBank of Panama City, 119 So. (Fla.) 130. P. D. 4664.
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224 REPORT OF THE COMPTROLLER OF THE CURRENCY
State taxation of national banks. Discrimination. Practice in Florida ofexempting other moneyed capital. Roberts v. American National Bank ofPensacola, 121 So. (Fla.) 554. P. D. 4664.5.
State bank stock. Discrimination. Folsom v. Bank of Greenwood, 120 So. (Fla.)317. P. D. 4665.4.
COLORADOTAXATION. STATE. Industrial banks. Collins v. First Industrial Bank, 276
Pac. (Colo.) 988. P. D. 4616.6.
KANSAS
State taxation of national banks. Illegality of Kansas tax. Mandamus deniedto city seeking to compel county treasurer to transfer to it proceeds of illegalnational bank tax. City of Topeka v. Boyd, 272 Pac. (Kans.) 124. P. D.4664.
KENTUCKY
Partial exemption of bank stock from local taxation. Jones v. Citizens' Bankof Hartford, 15 S. W. (2d) (Ky.) 468. P. D. 4617.
MISSOURI
State taxation of bank stock. Discrimination. "There is no justification forassessing bank stock on the one hand at full value and all other property onthe other at less than its real value. The assessor is commanded to valueand assess all property according to its true value in money, and the Stateboard of equalization to determine as to each class of property its true valuein money. If these plain mandatory provisions are violated through discrim-ination as between the different classes of property, the power of correctiondoes not lie with the county board of equalization. The taxpayer who suffersfrom such discrimination must find relief in a court of equity. BoonvilleNational Bank v. Schlotzhauser, 317 Mo. 1298, 298 S. W. 732, 55 A. L. R.489." State ex rel. Thompson, State auditor, et al. v. Dirckx, county clerk,11 S. W. (2d) 38. P. D. 4664. (Mo.)
Discrimination against stock of banks and trust companies. Remedy by injunc-tion. "Appellant's grievance is not that its property was overvalued butthat it was discriminated against through the undervaluation and omissionin part of other property subject to taxation. Had it at any time before thetax books were delivered to the collector filed complaint with the State taxcommission, that body in the proper exercise of its jurisdiction would havegranted a hearing and would have heard evidence with respect to the valua-tion complained of, and if the charges contained in the complaint had beenfound to be true the valuations placed on its property would have' beenlowered, or that on other property raised, the property omitted from theassessment roll would have been placed thereon, and the discrimination com-plained of thereby removed. The remedy provided by statute is adequate,certain, and complete. To permit taxpayers throughout the State who feelaggrieved through alleged discriminatory assessments of their property tostand silently by until after the taxes have become due and are pressed forcollection and then resist their payment by injunction would produce anintolerable condition." Brinkerhoff-Faris Trust & Sav. Co. v. Hill, 19 S. W.(2) (Mo.) 746. P. D. 4682.7.
MONTANA
Invalidity of tax on State bank stock at higher rate than permissible on nationalbank stock. "That Congress may not interfere with the taxation of propertywhich it is the exclusive right of the State to tax will not be questioned.The difficulty here arises chiefly upon the requirements of the State consti-tution. It requires the taxation of all property not exempt, and that thetax must be uniform upon the same class of subjects. The congressionalrequirement we are considering is not inconsistent with our constitutionalprovision requiring uniformity. It is thus our own fundamental law, actingcoordinately with the law of Congress, which compels the State to tax Stateas well as national bank shares upon the same basis." State ex rel. ConradBanking Corporation of Great Falls v. Mady, 272 Pac. (Mont.) 691. P. D.4623.3.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 225
National Bank making voluntary payment of tax and not filing claim for refundin accordance with State statutory provisions is barred from recovering tax.First Nat. Bank of Plains v. Sanders County, 279 Pac. (Mont.) 247. P. D.4682.
NEW YORK
INCOME TAX. Procedure on changing from old system to income basis. Foreignbanks. People Royal Bank of Canada v. Loughman, 236 N. Y. Sup. (Can.)110. P. D. 4625.3.
State taxation of national banks. Morris Plan banks as competing institutions.People ex rel. Morris Plan Co. of Buffalo v. Burke, 234 N. Y. S. 608. P. D.4668.3.
Inheritance tax where deposit made in trust. N. Y. L. J. June 15, 1929. P. D.4710.10. Cf. N. Y. L. J. 5/10/29, p. 740. Matter of Jurist, 157 N. Y. S.141, 156 N. Y. S. 825, 132 App. Div. 465.
OKLAHOMA
BANK STOCK. Procedure for recovery. Protest of First National Bank of Guth-rie, 276 Pac. (Okla.) 766. P. D. 4682.5.
OREGON
State taxation of national banks. Income tax. Referendum. Oregon. Statev. Hoss, 278 Pac. (Oreg.) 580. P. D. 4625.3.
PENNSYLVANIA
Inheritance tax. Reciprocity. Effect of New York decision as to constitution-ality. Commonwealth v. Farmers' Loan & Trust Co., 147 Atl. (Pa.) 71.P. D. 4702.7.
SOUTH DAKOTA
State taxation of national banks. Appeal from Security National Bank v.Twinde, 217 N. W. (S. Dak.) 542 by the bank dismissed "for the reason thatthe judgment of the State court sought here to be reviewed was based on anon-Federal ground adequate to support it." 49 Sup. Ct. 81.
Recovery of taxes paid by national bank was denied by South Dakota SupremeCourt because they were paid without protest. P. D. 4664.
State taxation of national banks. Rights of national bank to recover refund oftax on shares. Fiman v. Hughes County, 225 N. W. (S. Dak.) 711. P. D.4682.6.
TENNESSEE
1929 Income Tax law of Tennessee construed. Income tax on tax exemptsecurities. Shields v. Williams, 19 S. W. (2d) (Tenn.) 261. P. D. 4701.5.
WASHINGTON
Discrimination against bank stock. Where an objection to a tax on bank stock"presents an intentional refusal to follow the constitutional requirementthat all property shall be taxed equally, the property owner has the right toallege fraud therein and apply directly to the courts for relief/' Allegationwas that bank stock was assessed at 50 per cent of value while propertygenerally was assessed at not over 44 per cent. Yakima Valley Bank &Trust Co. v. Yakima County, 271 Pac. (Wash.) 820. P. D. 4664."
Credits may be exempted from taxation. State ex rel. Egbert v. Gifford, 275Pac. (Wash.) 74. P. D. 4690.5H-
State taxation of national banks. Discriminatory taxation generally. Trustcompanies, mutual savings banks, building and loan associations, loan andinvestment companies and investment bankers. Washington. NationalBank of Commerce of Seattle v. King County, 280 Pac (Wash.) 16. P. D.4664.5.
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226 REPORT OF THE COMPTROLLER OF THE CURRENCY
State taxation of bank stock. Deduction in assessing shares of bank's nontax-able securities. Washington. Spokane & Eastern Trust Co. v. SpokaneCounty, 280 Pac. (Wash.) 3. P. D. 4643.5.
Discrimination against stock of banks and trust companies. Remedy by in-junction. Yakima Nat. Bank v. Yakima County, 280 Pac. (Wash.) 25.P. D. 4682.7.
WAREHOUSES AND WAREHOUSE RECEIPTS
NEGOTIABILITY OF WAREHOUSE RECEIPTS. Application of negotiable instru-ments act to warehouse receipts. Does Georgia need warehouse receiptsact with its recommended amendments? Maryland Casualty Co. v. W. T.Johnson Co., 145 S. E. (Ga.) 766. P. D. 4716.
DEFINITIONS OF LEGAL AND BANKING TERMS
Deposit v. loan. Shaw v. McBride, 9 S. W. (2d) (Tex.) 410. P. D. (Fefs.)
TRUSTS
Liability of bank lending money and making investments for customer. Farmers& Merchants' Bank of Elkton v. Wisdom, 10 S. W. (2d) (Ky.) 846. P. D.513.5.
Transfer by bank or trust company of securities owned by it to itself as trustee.Kelly v. First Minneapolis Trust Co., 226 N. W. 696 (Minn.) P. D. 532.
Trust company may not as fiduciary purchase securities owned by it. In reSecurity Bank & Trust Co., 224 N. W. (Minn.) 235. P. D. 532.
Purchase by trustee of securities from itself. Apportioning mortgage invest-ment to trust estates. Participation certificates. The New York LawJournal, page 2173, August 29, 1929. P. D. 532.
Succession by national bank to trust powers of State institution consolidatedwith it. California statute providing for transfer of trust powers. Personappointing bank or trust company as having in mind the full scheme forsubstitution of trustees prescribed in that act. In re Barnett's Estate, 275Pac. (Calif.) 453. P. D. 680.
National banks. "Trust company" as part of name. Confusion with Stateinstitution with similar name. [(1) Middletown Trust Co., and (2) Middle-town National Bank & Trust Co.] Injunction. Middletown Trust Co. v,Middletown Nat. Bank. 147 Atl. (Conn.) 22. P. D. 681.1.
Tracing trust funds. (Most carefully worked-out opinion considering detailedtransaction.) Gering v. Buerstetta, 223 N. W. (Nebr.) 625. P. D. 948.3.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 227
TABLE NO. 1.—Comptrollers and Deputy Comptrollers of the Currency, dates ofappointment and resignation, and States whence appointed
No. Name Date ofappointment
Date ofresignation State
COMPTROLLERS OF THE CURRENCYMcCulloch, Hugh _..Clarke, FreemanHulburd, Hiland RKnox, John JayCannon, Henry WTrenholm, William L __..Lacey, Edward SHepburn, A. BartonEckles, James HDawes, Charles GRidgely, William BarretMurray, Lawrence OWilliams, John SkeltonCrissinger, D. R .Dawes, Henry MMclntosh, Joseph W_.Pole, J. W
DEPUTY COMPTROLLERS OF THE CURRENCYHoward, Samuel THulburd, Hiland RKnox, John JayLangworthv, John S _.Snyder, V. PAbrahams, J. DNixon, R. MTucker, Oliver PCoffin, George MMurray, Lawrence O___ _Kane, Thomas PFowler, Willis J _Mclntosh, Joseph WCollins, Charles W __Stearns, E. W._. _ _Await, F . GGough, E. HProctor, John L
Do.Virginia.Indiana.Kentucky.South Carolina.New York.District of Columbia.Indiana.Illinois.
Do.Virginia.Maryland.Indiana.Washington.
i Term expired. 2 Died Mar. 2,1923.
TABLE NO. 2.—Names and compensation of officers and clerks hi the office of theComptroller of the Currency* October 81, 1929
Name Designation Salary
Quinn, Edmund FHerndon, John GYeatman, John PAvery, AntoinetteKane, William AGross, Clyde EBurton, Russell OSchreiner, Edmund E .Thompson, GeorgeFuller, Jane LJohnston, Edna EMarble, George RFrye, Ruby MReese, William HWilson, Gordon KOffutt, William FBock, CarlVerrill, Harry MPennock, Caroline L__.Ellis, HarrieBBuell, WillardEHerndon, John WTucker, Samuel MHanlon, Margaret T _..Lewis, John OMurphy, Maud VO'Mara, Vera LTylor, GertrudeWhelan, MarjorieB...B asinger, Walter SLo velly, Laura FBentley, Thomas BJones, Nell HJones, Margaret EO'Brien, May F .Reed, S. E_Moyer, Aita TTrumbull, Annette
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228 BEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 2.—Names and compensation of officers and clerks in the office of theComptroller of the Currency, October 81, 1929—Continued
Name
Wright, Nellie KPumphrey, Carrie BFriedrichs, Minna K _..Hunt, Hermon _..Jump, Mollie CAndrews, Ettie F___Hiileary, RuaTrussell, Olga MHarris, John EClagett, Dorothy L _Wigginton, Norval PDeal, Jessie FHeizer, Helen VHeizer, Nannie BMunnerlyn, Joseph ANolan, Lida A _.Smith, Helen MYoung, Grace EBales, Anna SBarry, Gertrude I _ __Brumbaugh, Delia LBuckley, Regina C :Chisholm, Elizabeth._ _Colburn, Nellie ACrocker, Henry A. DDailey, William.Erickson, Bertha VHopkins, Edna IMcCrone, Clara O'BMcKinney, Elva LMagruder, Edith P _Nichols, Sada C ._ _Schiller, Ernestine IIVernon, Josephine .__Walker, Johanna SWeeks, KatherineDodge, Victor HHorsey, Olga SMortimer, Mary HJamieson, William GBeall, Clara MHaley, John RJorgenson, John A __Kelly, GeorgeMurphy, Clara MBaldwin, Wallace NBurlingame, Delia JHewson, EllaLowell, Harriet PHaymon, N. MabelIsrael, Frank TQuackenbush, DorothyTschiffely, Lacey B. RHaygood, Ethel _.Sazama, Alice RStafford, Catherine M__Dyson, AlineEasterday, William ABarksdalc, George TBayliss, George F_Corley, Virginia C _._Hueter, Marion RMallet, Katherine H___Lonergan, Bertha MPersons, Mabel E _Gorham, W. AbbottGlenn, Frances Moncure. _Mueller, PaulineO'Donnell, Josephine A__Canavan, Josephine MElmore, Annie L _Frock, Annie CHarleston, CatherineKellam, Margaret MSmith, Charles ASmith, ClaraEWatts, Metta FTaylor, Mathilda SWood, KathleenChamberlain, Robert JKemether, Eva CWilson, Mildred CParsjons, Edith NChiles, Charles RKeim, Charles C _
Wolfe, Alice M.Ridgeway, Rose CCook, George M__Dillard, John | do.Marks, Grace doBrown, Edith L Junior clerk__Burns, Edna C Junior clerk (temporary)Chandler, Margaret M do.Davis, Mary A | do.Dickhaut, Mary E doDodge, Annie E | doHunt, Laura V i doJudge, Clara W do
_do_..do..do !
.do
Underclerk_—do
do—-
.do
.do
do
Jurden, Helen K_.Long, Rosa AMcCarthy, Marie EMcFadden, Arthur MOrtman, Margaret LSneed, Wynona GTinkler, Edna M_ _Worrall, Marie EMcDonald, Sibyl SCurtin, Anna EDowden, Eleanor CDuRant, Anna KDutrow, Mary HDiivall, Grace NHaley. Mary CHatter, Madeline BMennel, Theresa ._Miller, BellumReese, AlineRoberts, VictoriaSettle, May C. WSheward, Adelaide HSimms, Harry EBlount, Joseph TCarroll, John ICover, Thomas AHolland, ThomasJones, George SMinis, Alvin ETaylor, John HMann, Harry C | UnderclerkConley, Margavet J ! Underclerk (temporary)Degen, Mary J | doDuBusky, Rosa A j do.Gervais, Gladys EHuntt, MetaBJar vis, Nona T... _ _ _Moore, Ellen RMundie, James FSteele, Erne _.Williams, Florentine-Hill, Edgar W | Messenger..Poles, JamesThompson, FrankBarrett, Lester J__Berkeley, Guy H_Scott, Edward_L__Waple, James l
TABLE NO. 3.—Number of national banks organized, since February 25, 1868,number passed out of the system, and number in existence October 31, 1929
Under act of Feb. 25, 1863.. 456Under act of June 3, 1864 8,255Under gold currency act of July 12, 1870 10Under act of Mar. 14, 1900___ jM>69
Total number of national banks organized 13,390Number reported in voluntary liquidation 4,167Number passed into liquidation upon expiration of corporate existence 208Number consolidated under act of Nov. 7, 1918 268Number placed in charge of receivers l 1, 241
Total number passed out of the system 3 §§4Number now in existence - - - — 7, 506
1 Exclusive of those restored to solvency.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
230 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 4.—Authorized capital stock of national banks on the first day of eachmonth from January 1, 1925, to November 1, 1929, United States bonds ondeposit to secure circulation, circulation secured by bonds on deposit, the amountof lawful money on deposit to redeem circulation, and national-bank notes out-standing, including notes of national gold banks
[For prior years see annual reports 1920 and 1927]
NOTE.—Notes redeemed but not assorted not included in circulation outstanding.NOTE.—New series of notes included since July.
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REPORT OP THE COMPTROLLER OF THE CURRENCY 231
TABLE NO. 5.—National banks reported in liquidation from Novetnber 1, 1928, toOctober 31, 1929, the names, where known, of succeeding banks in cases of suc-cession, with date of liquidation and capital
Name and location of bankBate ofliquida-
tionCapital
The First National Bank of Mounds, Okla. (6263), succeeded by First State Bankof Mounds
The First National Bank of Boothbay Harbor, Me. (5598), absorbed by AugustaTrust Company, Augusta, Me -
The First National Bank of Boley, Okla. (12012), absorbed by The Farmers andMerchants Bank of Boley . -
The First National Bank of Burlington, Colo. (11455), absorbed by Stock GrowersState Bank of Burlington
The First National Bank of Brooklyn, New York,* N. Y. (923), succeeded by FirstBank of Brooklyn, which merged with Manhattan Company
First National Bank in Burbank, Calif. (12435) absorbed by Bank of Italy NationalTrust & Savings Association, San Francisco, Calif __
The Liberty National Bank of Pawhuska, Okla. (11314), absorbed by The Amer-ican National Bank of Pawhuska.._._ __
The First National Bank of Jennings, Okla. (11791), succeeded by First State Bankof Jennings.
The First National Bank of Jerome, Idaho (9680), absorbed by The First SecurityBank of Jerome _._
The First National Bank of Junction, Texas (10845), absorbed by Junction StateBank, Junction
The Seventh National Bank of New York,* N . Y. (11844), absorbed by MunicipalBank and Trust Company of New York
The Milnor National Bank, Milnor, N. Dak. (8264).._The First National Bank of Grady, N. Mex. (11746)The First National Bank of Addington, Okla. (10001), absorbed by The Waurika
National Bank, Waurika, OklaThe Citizens National Bank of Hemingford, Nebr. (12495), absorbed by Farmers
State Bank of HemingfordThe First National Bank of McAllen, Tex. (11175), succeeded by The First National
Bank in McAllenThe First National Bank of Sardis, Ohio (7711), absorbed by The Union National
Bank of Sistersville, W. Va _ _
1928Oct. 25
Oct. 31
July 3
Oct. 22
Nov. 22
Nov. 9
Oct. 23
Oct. 5
June 26
Oct. 20
Dec. 15do.
The First National Bank of Bassett, Nebr. (11426), absorbed by Bassett StateBank, Bassett
'The American National Bank of Richmond,3 Va. (5229), succeeded by AmericanBank of Richmond to be consolidated with American Trust Company undertitle of American Bank & Trust Company of Richmond
First National Bank in Hailey, Idaho (12832), succeeded by First Security Bank ofHailey '1
The Shidler National Bank, Shidler, Okla. (12177), succeeded by AmericanExchange Bank, Shidler
Merchants National Trust and Savings Bank of Los Angeles,* Calif. (3538),absorbed by Bank of America of California, Los Angeles
The First National Bank in Eureka, Kans. (12457), absorbed by The CitizensNational Bank of Eureka
The Farmers and Merchants National Bank of Ron3, Okla. (10172), succeeded byThe First State Bank, Roff
Nov. 28
Dec. 10
Dec. 12
May 26
Nov. 24
1927Feb. 18
1928Dec. 29
Dec. 20
1928Dec. 31
..do
The National Globe Bank of Woonsocket, R. I. (1423), absorbed by Rhode IslandHospital Trust Company, Providence, R. I
The First National Bank of Hazard, Ky. (8258), absorbed by The First NationalBank in Hazard... ,._-_
Sept. 8
Dec. 31
1929Jan. 12
Jan. 8
1928Dec. 21
1929Jan. 1
Jan. 10
1928Dec. 20
1929Jan. 14
The First National Bank of Higgins, Texas (8179), absorbed by The Citizens 1928National Bank of Higgins Dec. 17
The Wylie National Bank, Wylie, Texas (12583), absorbed by Wylie State Bank,Wylie—
The National Bank of Unionville, Mo. (3137), succeeded by National Bank ofUnion ville _
The Farmers National Bank of Vinton, Iowa (5088), succeeded by The FarmersNational Bank in Vinton „
The City National Bank of Granbury, TexasNational Bank of Granbury.. . :
, absorbed by The First
The First National Bank of Raymond, Minn. (8050), absorbed by Farmers StateBank of Raymond
$25,000
50,000
25,000
30,000
1,000,000
50,000
100,000
25,000
50,000
40,000
1, 500,00030,00025,000
25,000
25,000
50, 000
25,000
30,000
2,000, 000
50,000
25,000
4,000, 000
50,000
25,000
100, 000
100, 000
25,000
50,000
65,000
50,000
25, 000
25, 000
1 With 2 branches in New York City.2 With 2 branches in New York City.3 With 5 branches in Richmond.4 With 36 branches in California, as follows: Los Angeles, 29, and 1 each at San Bernardino, Riverside,
Redlands, Vernon, Huntington Park, Bell, and Glendale.
79003°—30 16
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232 REPOBT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 5.—National banks reported in liquidation from November 1, 1928, toOctober 81, 1929, the names, where known, of succeeding banks in cases of suc-cession, with date of liquidation and capital—Continued
Name and location of bankDate ofliquida-
tionCapital
The First National Bank of Mount Pleasant, Texas (4722), succeeded by The FirstNational Bank in Mount Pleasant.. _
The First National Bank of Mountain Home, Idaho (6521), succeeded by FirstSecurity Bank of Mountain Home _
The First National Bank oi Stonewall, Okla. (7054), absorbed by The StonewallState Bank _
The First National Bank of Gotebo, Okla. (10389), absorbed by Bank of Gotebo___
The First National Bank of Crestline, Ohio (5099), succeeded by First NationalBank in Crestline
The City National Bank of Tip ton, Iowa (6760), succeeded by Tipton NationalBank, Tipton _
The Little Neck National Bank of New York, N. Y. (12512), absorbed by Man-hattan Company, New York
The Watkins National Bank of Lawrence, Kans. (3881), absorbed by The LawrenceNational Bank, Lawrence. -
The First National Bank of Winnebago City, Winnebago, Minn. (5406), succeededby the First National Bank of Winnebago
The First National Bank of Berthoud, Colo. (8033), absorbed by The BerthoudNational Bank, Berthoud
First National Bank of Olyphant, Pa. (8806), absorbed by Miners SavingsBank of Olyphant, which is to change its title to Miners Savings Bank & TrustCompany..
The Pacific National Bank of Boise, Idaho (10083), succeeded by First SecurityBank of Boise
The First National Bank of Detroit, Texas (4682), succeeded by The Planters Na-tional Bank of Detroit
The First National Bank of San Pedro, Calif. (7057), absorbed by Bank of ItalyNational Trust and Savings Association, San Francisco, Calif_ _
The First National Bank of Braggs, Okla., (10437) _
The First National Bank of Siloam Springs, Ark. (9871), succeeded by The FirstNational Bank in Siloam Springs _
The First National Bank of Foraker, Okla. (10356), succeeded by First State Bank,Foraker_.
The First National Bank of Wellington, Texas (8102), succeeded by The FirstNational Bank in Wellington.--
The First National Bank of Santa Rosa, Calif. (12201), absorbed by Bank ofAmerica of California, Los Angeles, Calif
The First National Bank of Caddo, Texas (11625)The American National Bank of Lebanon, Tenn. (5754), succeeded by American
Bank and Trust Company of Lebanon _The First National Bank of Prairie Grove, Ark. (8030), absorbed by Farmers State
Bank of Prairie Grove _The First National Bank in Cumby, Texas (12719), absorbed by First State Bank
in Cumby _ _The First National Bank of San Saba, Texas (7700), absorbed by the San Saba Na-
tional Bank, San Saba .The Northern National Bank of Philadelphia,5 Pa. (4192), absorbed by Ninth Bank
and Trust Company, Philadelphia._ __.The First National Bank of Olustee, Okla. (9960), absorbed by Farmers State
Bank, OlusteeThe Marine National Bank of Pittsburgh, Pa. (2237), absorbed by The Third
National Bank of PittsburghThe First National Bank of Mount Vernon, 8. Dak. (7582), succeeded by The
First National Bank in Mount Vernon •__The First National Bank of Horatio, Ark. (10447), absorbed by Bank of Horatio-.The Citizens National Bank of Martinsville, Ind. (4964), absorbed by The First
National Bank of Martinsville .-The Merchants National Bank of Asbury Park, N. J. (10932), succeeded by Mer-
chants Trust Company of Asbury ParkThe National Union Bank of Maryland at Baltimore, Md. (1489), absorbed by
Baltimore Trust Company, BaltimoreFirst National Bank of Granite Falls, Minn. (8416), absorbed by Granite Falls
Bank, Granite Falls....The First National Bank of Rice, Tex. (11632), absorbed by First State Bank,
Rice _
1929Jan. 15
1928Dec. 24
Dec. 31Dec. 27
1929Jan. 21
1928Nov. 10
1929Jan. 26
1928Dec. 12
1929Feb. 1
Jan. 21
Feb. 4
Jan. 30
Jan. 14
Jan. 24
1928Dec. 29
1929Jan. 21
Jan. 19
1928Dec. 26
1929Feb. 6Feb. 16
Jan. 7
Jan. 8
Jan. 22
Feb. 15
Mar. 4
Jan. 17
Feb. 26
Feb. 28Mar. 1
Feb. 25
Mar. 11
Mar. 12
Mar. 4
Feb. 16
$75,000
100,000
35,00025,000
75,000
50,000
100,000
100,000
50,000
25,000
250,000
300,000
100,000
200,000
25,000
50,000
25,000
50, 000
100,00025,000
100,000
25,000
50, 000
60, 000
400,000
25.. 000
300, 000
50,00025,000
100,000
400,000
1,000, 000
25, 000
25,000
« With 1 branch in Philadelphia.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 233
TABLE NO. 5.—National banks reported in liquidation from November 1, 1928, toOctober 31, 1929, the names, where known, of succeeding banks in cases of suc-cession, with date of liquidation and capital—Continued
Name and location of bankpa t e ofliquida-
tionCapital
The First National Btink of Sand Springs, Okia. (12079), succeeded by First StateBank of Sand Springs _
The City National Bank of Decatur, Tex. (5665), absorbed by The First NationalBank of Decatur
The First National Bank of Poultney, Vt. (2545), succeeded by First NationalBank in Poultney _ _
The Citizens National Bank of Norfolk, Nebr. (3741), absorbed by Nebraska StateBank of Norfolk
The First National Bank of Westerville, Ohio (7671), absorbed by Bank ol" Wester-ville County, Westerville
The First National Bank of Pompeys Pillar, Mont. (10922)Mercantile National Bank in Dallas, Tex. (12707), absorbed by Mercantile Bank
and Trust Company of Texas, DallasThe First National Bank of Long Beach, Calif. (5456), absorbed by Bank of Amer-
ica of California, San Francisco, CalifThe First National Bank of Auburn, Calif. (9227), absorbed by Bank of America
of California, San Francisco, CalifThe First National Bank of Exeter, Calif. (9370), absorbed by Bank of America
of California, San Francisco, CalifThe First National Bank of Chino, Calif. (10271), absorbed by Bank of America
of California, San Francisco, CalifNew First National Bank in Visalia, Calif. (12678), absorbed by Bank of America
of California, San Francisco, CalifFirst National Bank in South Pasadena, Calif. (12797), absorbed by Bank of Amer-
ica of California, San Francisco, Calif __.City National Bank of Spokane, Wash. (12418), absorbed by The Old National
Bank and Union Trust Company, SpokaneThe Security National Bank of Alexandria, S. Dak. (10187), absorbed by First
National Bank in AlexandriaThe First National Bank of Fullerton, N . Dak. (11217), absorbed by Farmers
State Bank of FullertonThe Bushwick National Bank of New York, N . Y. (12419), absorbed by Globe
Exchange Bank, Brooklyn, N . YThe First National Bank of Kosse, Tex. (9205), succeeded by The Kosse National
Bank of KosseNational Bank of Commerce in New York,6 N. Y., (733), absorbed by Guaranty
Trust Company of New YorkThe Caddo National Bank, Caddo, Okla., (7368), absorbed by Atoka State Bank
Atoka, Okla. __The First National Bank of Valley Mills, Texas (9148), succeeded by The First
National Bank in Valley Mills
The First National Bank of Casa Grande, Ariz. (11663), absorbed by ArizonaSouthwest Bank, Casa Grande
The Liberty National Bank of Tahlequah, Okla. (12089), absorbed by LibertyState Bank, Tahlequah
The First National Bank of Rhorne, Texas (10509), succeeded by The First NationalBank in Rhome
The Broadway National Bank of Richmond, Va. (10344), succeeded by BroadwayBank & Trust Company of Richmond L
First National Trust and Savings Bank of Whittier, Calif. (5588), absorbed byBank of America of California, Los Angeles, Calif
Anadarko National Bank, Anadarko, Okla. (5923), absorbed by Anadarko Bankand Trust Company, Anadarko
The Sonoma County National Bank at Petaluma, Calif. (9918), absorbed by Bankof America of California, Los Angeles, Calif
The Bloomfield National Bank, Bloomfield, N . J. (4056), absorbed by BloomfieldTrust Company, Bloomfield
The First National Bank of Arlington, S. Dak. (5916), succeeded by First NationalBank in Arlington
The Kenwood National Bank of Chicago, 111 (11999), absorbed by The Hyde Park-Kenwood National Bank of Chicago
The First National Bank of Electra, Texas (10050), succeeded by The First NationalBank in Electra
The Old National Bank of Grand Rapids, Mich. (2890), absorbed by Kent StateBank, Grand Rapids ..
The First National Bank of Florence, S. Dak. (10774), absorbed by The FirstNational Bank of Waiertown, S. Dak
The Hanover National Bank of the City of New York,7 N . Y. (1352), absorbed byCentral Union Trust Company of New York, N . Y
The Farmers National Bank of Ludlow, Mo, (8657), succeeded by the LudlowNational Bank, Ludlow
First National Bank at Turlock, Calif (11124), absorbed by Bank of America ofCalifornia, Los Angeles, Calif ,
The First National Bank of Paris, Tenn. (9334), absorbed by First State Bank &Trust Company of Paris
1929Feb. 6
Feb. 19
Mar, 5
Jan. 18
Mar. 15Mar. 19
Feb. 1
Mar. 1
Jan. 8
. . .do
Feb. 14
Jan. 8
Jan. 16
Mar. 19
Mar. 14
Apr. 1
Mar. 27
Apr, 5
Apr. 2
.__do
1928Dec. 5
1929Mar. 28
Apr. 5
Apr. 9
Feb. 11
Mar. 1
— d o . . . .
Apr. 15
Mar. 4
Apr. 20
Apr. 15
Apr. 22
Apr. 9
Apr. 23
Apr. 15
Feb. 13
Apr. 17
$50, 000
50, 000
50, 000
100, 000
25, 00025,000
1, 000, 000
200, 000
50,000
50,000
25, 000
100,000
100, 000
200,000
30,000
25,000
200, 000
50,000
25,000,000
25,000
50,000
25,000
40,000
25,000
300,000
250,000
25,000
400,000
300,000
50,000
300,000
100,000
800,000
25,000
10,000,000
60,000
75,000
50, COO6 With 1 branch in New York City. 7 With 11 branches in New York City.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
234 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 5.—National banks reported in liquidation from November 1, 1928, toOctober 31, 1929, the names, where known, of succeeding banks in cases of suc-cession, with date of liquidation and capital—Continued
Name and location of bankDate ofliquida-
tionCapital
The First & Citizens National Bank of Smithfield, N. C. (10502), succeeded byFirst-Citizens Bank and Trust Company, Smithfield..._
First National Bank in Temple, Okla. (11384), succeeded by First State Bank inTemple _
The State National Bank of Terrell, Tex. (12733), succeeded by the State NationalBank in Terrell.__ __.
The Third National Bank of Syracuse, N. Y. (159), absorbed by First Trust andDeposit Company, Syracuse _ _
The Liberty National Bank and Trust Company of Syracuse,8 N. Y. (12122), ab-sorbed by First Trust & Deposit Company, Syracuse
The State National Bank of Bonham, Tex. (12699), absorbed by State Bank &Trust Company, Bonham _
The First National Bank of Equality, 111. (6978), succeeded by Equality StateBank, Equality _
The Chemical National Bank of New York,9 N. Y. (1499), succeeded by ChemicalBank and Trust Company, which is to consolidate with U. S. Mortgage andTrust Company, New York __ _
The Chapman National Bank of Portland, Me. (4868), succeeded by ChapmanBank & Trust Company.. __ _
Farmers National Bank of Fairfax, S. Dak. (12325), succeeded by The FarmersNational Bank of Fairfax. _
The First National Bank of Aurora, Oreg. (11975), absorbed by Aurora State Bank,Aurora
1929Apr. 25
1928Dec. 31
1929Apr. 18
Apr. 27
__do
The American National Bank of Ardmore, Okla. (12053), succeeded by The Ameri-can Bank and Trust Company of Ardmore
The Louisville National Bank and Trust Company, Louisville,10 Ky. (5161),succeeded by The Louisville Trust Company of Louisville _
The First National Bank of Big Sandy, Tenn. (13077), absorbed by Peoples UnionBank & Trust Company, Camden, Tenn _ _
The Planters National Bank of Detroit, Tex. (13259), absorbed by Citizens StateBank of Detroit
The National City Bank of Tampa, Fla. (10958), absorbed by The First NationalBank of Tampa
The First National Bank of Tarboro, N. C. (8356), succeeded by The EdgecombeNational Bank of Tarboro
The Merchants National Bank of Detroit, Mich. (10600), absorbed by The DimeSavings Bank of Detroit, which is to change its title to Bank of Michigan._
The First National Bank of Morrilton, Ark. (10434), absorbed by Peoples Bank& Trust Company of Morrilton..
The First and Security National Bank of Valley City, N . Dak. (11417), succeededby The National Bank of Valley City..
The Security National Bank of Lawton, Okla. (11680), succeeded by the SecurityBank & Trust Company _
The Orangeburg National Bank, Orangeburg, S. C. (10674), absorbed by theEdisto National Bank of Orangeburg.. _
The First National Bank of Rowlett, Tex. (12654), absorbed by First NationalBank of Garland, Tex
The First National Bank of Benjamin, Tex. (7669), succeeded by First State Bankand Trust Company of Benjamin _._
The Frontier National Bank of Buffalo, N. Y. (13085), absorbed by Liberty Bankof Buffalo
First National Bank in Georgetown, Del. (13278), succeeded by Georgetown TrustCompany, Georgetown
The First National Bank of Pequot, Minn. (11267), absorbed by Farmers StateBankofPequot
National Bank of Wehrum, Pa. (12602)Citizens National Bank of Vicksburg, Miss. (7507), absorbed by The First National
Bank of Vicksburg . _Arcadia National Bank and Trust Company of Newark, N. Y. (6802), succeeded
by Arcadia Trust Company of Newark.The Seaboard National Bank of The City of New York," N . Y. (12123), succeeded
by The Seaboard Bank of The City of New YorkThe First National Bank of Geyserville, Calif. (11678), absorbed by Bank of
America of California, Los Angeles, Calif __The Bristol National Bank, Bristol, Conn. (2250), absorbed by Bristol American
Bank and Trust Company, Bristol 1The Milton National Bank, Milton, W. Va, (12765), absorbed by Bank of Milton_.The Merchants-Laclede National Bank of Saint Louis, Mo. (5002), absorbed by
Mississippi Valley Trust Company, St. Louis, which changed its title to Missis-sippi Valley Merchants State Trust Company
The State National Bank of St. Louis, Mo. (5172), absorbed by Mississippi ValleyTrust Company, St. Louis, which changed its title to Mississippi Valley Mer-chants State Trust Company _.
Apr. 25
Feb. 26
May 2
May 1
Apr. 26
Mar. 23
Apr. 2
May 15
May 16
May 13
May 7
May 23
May 27
May 13
. . .do, . . - .
June 3
Jan. 8
June 6
Apr. 25
June 10
June 11
June 5June 12
May 23
June 15
June 18
Feb. 6
June 21June 28
June 29
$175,000
25,000
200,000
300,000
400,000
200,000
35,000
6,000,000
400,000
50,000
25,000
300,000
750,000
25,000
25,000
500, 000
100,000
2,000,000
50,000
100,000
100, 000
200,000
25,000
50,000
200,000
50,000
25,00025,000
100,000
200,000
11,000,000
25,000
200,00050,000
1, 700, 000
2, 000, 0008 With 1 branch in Syracuse.» With 7 branches in New York City.
io With 6 branches in Louisville.u With 3 branches in New York City.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 235TABLE NO. 5.—National banks reported in liquidation from November 17 1928, to
October SI, 1929, the names, where known, of, succeeding banks in cases of suc-cession, with date of liquidation and capital—Continued
Name and location of bank
The Vienna National Bank, Vienna, Va. (11764), succeeded by Vienna TrustCompany, Vienna _
The Tenth National Bank of Philadelphia, 12 Pa. (3423), absorbed by IntegrityTrust Company, Philadelphia T - •_
The Broadway National Bank, of Paterson, N. J. (12726), succeeded by BroadwayBank & Trust Company, Paterson .
The Central National Bank of Lincoln, Nebr. (8885), absorbed by The FirstNational Bank of Lincoln _.
The First National Bank of Libby, Mont. (9594), absorbed by First State Bank ofLibby..
The First National Bank of Forrest City, Ark. (10550), absorbed by Bank of Eastera, Ark., Forrest City
The Powell National Bank, Powell, Wyo. (10565), succeeded by Park CountyBank, Powell
The Farmers National Bank of Yale, Okla. (10722) _.The First National Bank of Carterville, Mo. (4475), absorbed by Webb City Bank
of Webb City, MoThe National Bank of New Berne, N. C. (1632), succeeded by The First National
Bank of New BernThe First National Bank of Brookville, Ohio (9553), absorbed by The Citizens
State & Savings Bank of Brookville, which changed its title to the BrookvilleState Bank
The Jackson National Bank, Jackson, Minn. (6992), succeeded by The JacksonNational Bank in Jackson
The Oklahoma National Bank of Hastings, Okla. (12150), succeeded by The Okla-homa State Bank, Hastings
The Potomac National Bank, Potomac, 111. (6824), absorbed by Goodwine StateBank of Potomac
The First National Bank of Underwood, N. Dak. (11272), absorbed by SecurityState Bank, Underwood
The First National Bank of Ault, Colo. (8088), absorbed by The Farmers NationalBank of Ault
The Vermilion National Bank, Vermilion, S. Dak. (7352), succeeded by The FirstNational Bank and Trust Company of Vermilion
The First National Bank of Morgantown, Ind. (7652), succeeded by First StateBank, Morgantown
The First National Bank of Vermilion, S. Dak. (4603), succeeded by The FirstNational Bank and Trust Company of Vermilion
The Merchants National Bank of Fargo, N. Dak. (8170), succeeded by The Mer-chants National Bank and Trust Company of Fargo
The Colton National Bank, Colton, Calif. (8608), succeeded by The CitizensNational Bank of Colton
The College National Bank of Berkeley, Calif. (11495), absorbed by American TrustCompany, Berkeley -_ -. _.
The Community National Bank of Buffalo," N. Y. (11768), absorbed by LibertyBank of Buffalo...
The American National Bank of Okmulgee, Okla. (12048), absorbed by The CentralNational Bank of Okmulgee •_
The Fordham National Bank in New York, N. Y. (12825), absorbed by BronxC t Tt C N Y k
, (), yCounty Trust Company, New York
First National Bank in Escondido, Calif. (13029), absorbed by Security Trust &S i B k f S Di Clifirst Nat ioal Ba i c o d ,Savings Bank of San Diego, Calif
The First National Bank of Bement, 111. (4829), absorbed by the State Bank ofBement.
The National Bank of Wheaton, Minn. (8993), absorbed by The First NationalBank of Wheaton
The First National Bank of Wellston, Okla. (9983), absorbed by The WellstonNational Bank, Wellston
The First National Bank of Cooperstown, N. Dak. (5375)/succeeded by The FirstNational Bank in Cooperstown..
The Thames National Bank, Norwich, Conn. (657), succeeded by The ThamesBank, Norwich _ _. .
The Dakota National Bank of Aberdeen, S. Dak. (8642), absorbed by The FirstNational Bank of Aberdeen ___
The Peoples National Bank of Ypsilanti, Mich. (12436), absorbed by The FirstNational Bank of Ypsilanti _
The Union National Bank of Neodesha, Kans. (13033), absorbed by The FirstNational Bank of Neodesha
The First National Bank of Bainbridge, Pa. (9264), absorbed by ElizabethtownTrust Company, Elizabethtown ..
The First National Bank of Deer Creek, Minn. (7268), succeeded by First NationalBank in Deer Creek
The Norwood National Bank, Norwood, Ohio (8505), absorbed by Norwood-HydePark Bank & Trust Company, Norwood.--
The Yuma National Bank, Yuma, Ariz. (9608), succeeded by Yuma Valley Bank,Yuma
Date ofliquida-
tion
1929June 29
July 1
._.do
June 21
July 1
May 6
Feb. 2May 21
June 29
July 17
July 22
July 9
May 29
Apr. 23
July 22
Apr. 29
Aug. 1
...do
12 With 1 branch in Philadelphia. 13 With 7 branches in
...do
July 26
July 24
July 27
June 10
July 30
July 31
June 1
June 29
Aug. 6
July 22
Aug. 9
Aug. 2
June 24
Aug. 10
June 8
Aug. 5
Aug. 7
Apr. 22
June 22
Buffalo.
Capital
$25, 000
1,000,000
200,000
200,000
40,000
50,000
40,00025, 000
50,000
250,000
25,000
80,000
25,000
30,000
25,000
25,000
50,000
50,000
75,000
100,000
50,000
200,000
1, 000, 000
200, 000
500, 000
50,000
50,000
25,000
25, 000
50,000 -
1,000,000
50, 000
100, 000
50,000
25, 000
25,000
200,000
150, 000
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
236 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 5.—National banks reported in liquidation from November 1, 1928, toOctober 31, 1929, the names, where known, of succeeding banks in cases of suc-cession, with date of liquidation and capital—Continued
Name and location of bankDate ofliquida-
tionCapital
Farmers & Merchants National Bank, of Jamestown, N. Dak. (10495), succeededby The National Bank and Trust Company of Jamestown
The First National Bank of Ryan, Okla. (5800), succeeded by the First StateBank of Ryan __ _
The Northfield National Bank, Northfield, Minn. (5895), succeeded by NorthfieldNational Bank and Trust Company, Northfield__ _ _
The City National Bank of San Antonio, Texas (5217), succeeded by City CentralBank & Trust Company, San Antonio... _
The Oklahoma National Bank of Skiatook, Okla. (10464), succeeded by The Okla-homa First National Bank of Skiatook. _
The National City Bank of Akron, Ohio (6763), absorbed by The First Trust &Savings Bank, Akron. _
^The First National Bank of Highland at Monterey, Va. (9043), absorbed by Citi-zens Bank of Highland—
The First National Bank of Spiro, Okla. (9275), absorbed by Farmers State Bankof Spiroh O k
f SpioThe Oakmont National Bank, Oakmont, Upper Darby, Pa. (12858), absorbed by
89th Street Terminal Title and Trust Company, Upper DarbyAddison National Bank of Chicago, 111. (13119), absorbed by Citizens State Bank
of ChicagoNational Bank of Niagara and Trust Company of Niagara Falls," N. Y. (12284),
absorbed by Niagara Falls Trust Company, Niagara FallsThe First National Bank of Willmar, Minn. (6151), absorbed by Bank of Willmar.The First National Bank of Grundy Center, Iowa (3225), succeeded by First Trust
& Savings Bank, Grundy CenterThe Painesville National Bank, Painesville, Ohio (2842), succeeded by The Paines-
ville National Bank and Trust Company, PainesvilleThe Citizens National Bank of Raleigh," N. C. (1766), succeeded by Citizens Bank
of Raleigh _.The Murchison National Bank of Wilmington, N. C. (5182), succeeded by The
Murchison Bank of Wilmington. _The First National Bank of Wetumka, Okla. (5935), absorbed by The National
Bank of Commerce of WetumkaAmerican National Bank <& Trust Company of Greensboro,16 N. C. (10112), suc-
ceeded by American Bank and Trust Company, to be succeeded by NorthCarolina Bank and Trust Company
The First National Bank of Rocky Mount, N. C. (10630), succeeded by The Bankof Rocky Mount
The First National Bank of Chesaning, Mich. (11454), absorbed by ChesaningState Bank. _
The First National Bank of Helena, Ark. (3662), absorbed by The InterstateNational Bank of Helena. __
The First National Bank of Roanoke Rapids, N. C. (5767), absorbed by RoanokeB k & T t C R N C
1929Aug. 13
July 19
Aug. 15
Aug. 29
Aug. 5
Aug. 31
Sep. 2
Aug. 26
Sep. 3
...do
Aug. 31Sep. 7
Aug. 27
Sept. 10
Sept. 21
...do
Mar. 11
Bank & Trust Company, Rosemary, N . C *The City National Bank and Trust Company of Bridgeport, Conn. (921), suc-
ceeded by The Bridgeport City Bank, BridgeportThe First National Bank of Charles City, Iowa (1810), absorbed by Security Trust
& Savings Bank, Charles City •The First National Bankof Rockwell City, Iowa (5185), absorbed by Union State
Bank, Rockwell CityThe First National Bank of Amboy, Minn. (9775), succeeded by The First N ational
Bank in AmboyThe First National Bankof Loogootee, Ind. (7241), succeeded by The Union Bank,
LoogooteeThe First National Bank of Savage, Mont. (11032), absorbed by The Sidney Na-
tional Bank, Sidney, Mont _The Brookings National Bank, Brookings, S. Dak. (13181), succeeded by Brook-
ings County Bank, BrookingsThe Drovers and Merchants National Bankof Philadelphia,u Pa. (11476), absorbed
by The Bankers Trust Company, Philadelphia __The First National Bank of Lake Benton, Minn. (4509), absorbed by The National
Citizens Bank of Lake Benton__ _The First National Bank of Taloga, Okla. (7019), succeeded by the Dewey County
State Bank of Taloga...The First National Bank of Versailles, Mo. (7256), succeeded by The First National
Bank in Versailles _ _The American National Bank of Little Falls, Minn. (4655), succeeded by The
American National Bank in Little FallsThe First National Bank of Kenton, Term. (10404), succeeded by Kenton Banking-
Company, Kenton. _The First National Bankof Brooksville, Fla. (9891), succeeded by the First Na-
tional Bank in Brooksville-The First National Bank of Mason, Ohio (7403), absorbed by The Mason Bank,
Mason_ •The First National Bank of Dillon, S. C. (10908), absorbed by Bank of Dillon
i* With 1 branch in Niagara Falls." With 1 branch in Raleigh.
Sept. 21
...do
Sept. 23
May 28
Aug. 30
Sept. 20
Sept. 28
Sept. 26
Aug. 5
July 13
Oct. 1
Sept. 19
Oct. 11
Oct. 9
Aug. 12
Oct. 7
Aug. 1
Sept. 12
Oct. 16 |
Oct. 19 jMay 21 i
• With 1 branch in Greensboro.With 1 branch in Philadelphia.
$50,000
50,000
100,000
1,000,000
25,000
1, 000, 000
25,000
25,000
25,000
200,000
1, 200,000100,000
50,000
150,000
750,000
1,000,000
40,000
1,000,000
262,500
50,000
200, 000
100,000
1,000, €00
100,000
50,000
50,000
25,000
25,000
50,000
1,000,000
25,000
25,000
30,000
100,000
25,000
50, 000
25,000100, 000
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
KEPORT OF THE COMPTROLLER OF THE CURRENCY 237
TABLE NO. 5.—National banks reported in liquidation from November 1, 1928, toOctober 81, 1929, the names, where known, of succeeding banks in cases of suc-cession, with date of liquidation and capital—Continued
Name and location of bankDate ofliquida-
tionCapital
The Citizens National Bank of Harrison, Ark. (12291), succeeded by The CitizensBank and Trust Company, Harrison _
The Quinlan National Bank, Quinlan, Tex. (12761), succeeded by The SecurityState Bank, Quinlan _
The First National Bank of Springfield, Minn. (8269), absorbed by Farmers StateBank of Springfield._. _ __
The First National Bank of Skiatook, Okla. (9969), succeeded by The OklahomaFirst National Bank of Skiatook
The First National Bank of Driggs, Idaho, (10278) succeeded by First NationalBank in Driggs
1929June #0
Oct. 9
Oct. 22
Aug. 5
Oct. 15
Total (221 banks).
$50, 000
25,000
40,000
25,000
50,000
98, 267, 500
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 6.—Capital stock, surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, asamended February 25, 1927, for the year ended October 31, 1929, as shown by their last reports prior to consolidation CO
00
Closing banks
Char-terNo.
6533
1928
7,362
12686
Tit le and location
Oxford Bank andi rusi uo., Jtrniia-delphia.
Peoples State Bankr\f Q i "1111 *\ r oTIOI otllllvaXl*
Second Ward SavingsBank of Milwau-kee.
The First NationalBank of CambridgeSprings.
The Farmers & Me-chanics NationalBank of Washing-
Cobbs Creek Titleand Trust Com-pany of Philadel-phia.
The First NationalBank of RockyMount.
New England Na-tional Bank andTrust Co. in Kan-sas City.
First Trust and Sav-ings Bank of LaPorte.
The Exchange TrustCo., Little Rock.
The Citizens TrustCo., Allentown.
The State SavingsBank of Lapeer.
State
P a
Ind
Wis
P a
D. C . . .
Pa
N . C.__
Mo
Ind
Ark_. . .
Pa
Mich_.
Capital
$500,000
125,000
1,000,000
75,000
252,000
125,000
150,000
1,000,000
100,000
100,000
500,000
45,000
Surplus
$500,000
125,000
3,000,000
75,000
350,000
35,000
125,000
500,000
100,000
100,000
750,000
40, 000
Un-dividedprofit
$46,176
18,705
769,844
20,971
60, 342
39,932
33,145
157,868
43,289
32,104
234,451
20,494
Aggregateresources
$9,600,829
1,664,458
43,644,858
1, 204,159
4, 708,244
1,767,806
1,845,703
16, 667,386
2,662,396
1,578,459
4,736,642
1,346,397
Continuing banks
Char-ter
542
5392
64
9430
5046
13180
10630
11344
377
3300
6645
1731
Title and location
Corn Exchange Na-f lATinl I J OTl'L*' QTiHt l O n a i XS8II1J£ cLDG
Trust Co., Phila-delphia.The National Bank
oi ouiiivan.First Wisconsin Na-
tional Bank of Mil-waukee.
The Springs NationalBankof CambridgeSprings.
The Riggs NationalBank of Washing-ton, D. C.
City National Bank& Trust Companyof Philadelphia.
The National Bankof Rocky Mount.
Fidelity NationalBank and TrustCo. of Kansas City.
The First NationalBank of La Porte.
The Exchange Na-tional Bank of Lit-tle Rock.
The Merchants Na-tional Bank of Al-lentown.
The First NationalBank of Lapeer.
Capital
$2,700,000
150,000
6,000,000
50,000
2, 500,000
1, 000,000
200, 000
2,000,000
250,000
300,000
400,000
75, 000
Surplus
$7,800,000
50,000
4,000,000
50,000
2,000,000
1,000,000
100,000
500,000
100,000
200,000
1,400,000
75,000
Un-dividedprofit
$1,046,305
28,789
1,218,313
49,357
441,186
27,698
13,050
646,440
30,635
19,337
194,858
13,719
Aggregateresources
$91,180,408
1,703,621
134,973,576
1,213,744
51,538,850
6,980,355
2,378,074
36, 290,042
2,962,043
5, 544,224
8,642,112
1,080, 381
Date ofreports
1928Oct. 3
_ do___ _
do
...do
...do
...do.
Dec. 31
...do
Oct. 3
Dec. 31
do
...do
Date ofconsoli-dation
1928Nov. 1
Nov. 19Dec 15
Do
Do.
Dec. 28
Dec. 31
Do.
Do.
Do.
1929Jan. 7
Jan. 15
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
4805
2598
1146
3738
10026
11856
3052
2020
The National Bankof Urbana.
The Frackelton StateBank of Petersburg.
The Gar field Na-tional ±*ank of theCity of New York.
The Mad River Na-tional Bank ofSpringfield.
The Chattanooga Sav-ings Bank andTrust Co.
The Milton NationalBank, Milton.
Rawson State BankChicago.
The Lockwood Na-tional Bank of SanAntonio.
Lincoln Trust Co. ofNew Jersey.
United States Nation-al Bank of McMinn-ville.
The National CityBank of Seattle.
The Marine NationalBank of Seattle.
The Hamilton Trust& Savings Bank ofChattanooga.
Griswold-First StateBank, Detroit.
The American Ex-change Bank, Port-land.
Phoenix NationalBank and Trust Co.of Lexington.
The Merchants Na-tional Bank of St.Paul.
Liber ty CentralT r u s t Co., St.Louis.
Security Trust & Sav-ings Bank, Los An-geles.
Ohio...
Ill
N. Y.__
Ohio...
Tenn
PaIll
Tex.._.
N. J..__
Oreg...
Wash..
Wash..
Tenn...
Mich...
Oreg...
Minn.
Mo.. .
Calif._
200, 000
100,000
1,000,000
300,000
1,000,000
100,000
4,000,000
200,000
600,000
50,000
500,000
300,000
500,000
2, 500,000
200,000
1,000, 000
2,000,000
3,000,000
12, 000,000
40,000
10,000
1,000,000
60,000
500,000
100,000
5,500,000
340,000
400,000
50,000
100,000
100,000
2, 500,000
50,000
500,000
2, 000,000
3, 000, 000
8,112
900,166
3,963
247,094
103,347
1,859,674
64,046
414,676
15,090
245,223
54,760
91,514
170,021
33,267
120,959
405,084
1, 350,000
6,120, 315
866, 556
519,472
22,090,256
2,994,406
8,848,326
873,608
104,364,057
3,525,526
8,904,089
1,023, 268
5,866,161
469,101
4,411,953
46,620,060
3,407,036
8, 583, 257
50,405, 043
39,346, 978
281, 655, 520
916
3043
2370
238
1606
253
8
5179
374
3857
\ 4375
7848
8703
12557
906
203
170
2491
The Champaign Na-tional Bank of Ur-bana.
The First NationalBank of Petersburg*
The Chase NationalBank of the Cityof New York.
The First NationalBank and TrustCo. of Springfield.
The First NationalBank of Chatta-nooga.
The First NationalBank of Milton.
The First NationalBank of Chicago.
The Frost NationalBank of San An-tonio.
The First NationalBank of JerseyCity.
The McMinnvilleNational Bank Mc-Minnville.
The National Bankof Commerce of Se-attle.
The Hamilton Na-tional Bank ofChattanooga.
The National Bankof Commerce ofDetroit.
Portland NationalBank, Portland.
The First and CityNational Bank ofLexington
The First NationalBank of St. Paul.
First National Bankin St. Louis.
Los Angeles-First Na-tional Trust & Sav-ings Bank, Los An-geles.
200,000
100,000
60,000,000
1,000,000
1,250,000
200,000
20, 000,000
1,000,000
1, 000,000
75,000
1,000,000
1, 500,000
2, 500,000
200,000
800, 000
3,000,000
10,000,000
13, 750,000
100, 000
75,000
60,000,000
600,000
1,250,000
200,000
15,000,000
500,000
1,500,000
75,000
1,000,000
600,000
3,000,000
20,000
400,000
2,000, 000
5,000,000
8, 000,000
111, 230
26,000
17,490,815 1
111, 455
232,812
25,963
6,801,873
364, 782
172, 593
20,671
270,423
122,680
902, 251
30,341
50,000
2,005,980
2,169, 309
10, 073, 806
1, 645, 216
886,133
.421.090.732
10,702,278
23,513,122
1,952,059
365, 766,914
22, 777,648
27,056,882
1,346,185
28,298,442
21,505,631
57,831,960
3,077,415
6,480,075
70,232, 729
160,095,094
342,961,842
...do
do
___do
...do
...do
...do
...do
...do
...do
...do
...do
...do
do
...do
...do
....do
...do
1929Mar. 27
» Jan. 17
Jan.
Jan.
Feb.
Feb.
Do.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Feb.
Do.
Mar.
Mar.
Do.
Mar.
23
26
1
2
11
16
18
19
23
26
28
j
2
23
30
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 6.—Capital stock, surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, asamended February 25, 1927, for the year ended October 81, 1929, as shown by their last reports prior to consolidation—Continued
Closing banks Continuing banks
Char-terNo.
Title and location State Capital SurplusUn-
dividedprofit
Aggregateresources
CharterNo.
Title and location Capital SurplusUn-
dividedprofit
Aggregateresources
Date ofreports
Date ofconsoli-dation
12980
4412
11360
9374
13290
Granite NationalBank of Brooklynin New York.
Union Trust Co.Charleston.
The Citizens National
The Peoples StateBank of Richmond.
The Liberty NationalBank of JamestownN. Y.
American ExchangeNational Bank ofDuluth.
Marathon CountyBank, Wausau.
The Citizens Nation-al Bank & TrustCo. of Everett.
10602 Mount Vernon Na-tional Bank, MountVernon.
13301 i The Blair NationalI Bank of New York.
12970 The Traders NationalBank of Brooklynin New York.
The Boone CountyBank of Madison.
12043
10019
Tulsa National BankTulsa.
The Ottawa CountyNational Bank ofMiami.
N. Y__.
W. Va.
W. Va.
Kans...
N. Y._.
Minn..
Wash.
Wash..
N. Y...
N. Y...
W. Va.
Okla._.
Okla-_,
$300,000
500,000
125,000
10,000
200,000
2,000,000
200,000
100,000
50,000
200,000
500,000
100,000
750,000
150,000
$75,000
250,000
125,000
10,000
50,000
1,000,000
100,000
20,000
10,000
0)250,000
28,373
200,000
30,000
$23,114
65,403
111,614
9,310
550,188
12,969
5,259
2,076
$2,319,004
3,869,086
3,376,012
184,976
1,183,806
15,956,087
2,634,923
1,382,096
848,441
50,291
3,309
25,223
21,695
3,155,703
606,404
7,649,607
2,956,916
658
• 3236
11728
9748
3626
4744
11693
12154
13193
6510
5171
5252
Nassau NationalBank of Brooklyn.
(The Charleston Na-< t i o n a l B a n k ,I Charleston.
The First NationalBank of Richmond.
American NationalB ank of Jamestown.
The First NationalBank of Duluth.
American NationalBank of Wausau.
The Security Nation-al Bank of Everett.
The Skagit NationalBank, of MountVernon.
[The Bank of America< National Associa-[ tion, New York.
The Madison Na-tional Bank, Madi-son.
The First National
Co., of Tulsa.The First National
Bank of Miami.
$1,500,000
> 500,000
25,000
200,000
2,000,000
400,000
150,000
50,000
>25,000,000
100,000
2, 500,000
100,000
$1,500,000
1,500,000
3,000
250,000
1,500,000
300,000
37,500
10,000
35,000,000
90,000
750,000
25,000
$721,713
207,998
26
82,435
960,249
12,008
10,281
3,364,385
5,168
113,567
43,991
$27,259,620
11,668,523
5,636,150
24,366,919
5, 312,515
1,979,185
844,215
384,607,480
959,992
33,543,249
1,896,755
1929Mar. 27
_._do
_do._
..do_.
...do
_do_.
_do..
___do
_._do
—do..
. . .do. .
. . .do. .
1929Mar. 30
Do.
Do.
Apr. 13
Apr. 18
Apr. 20Do.
V
May 4
May 20
May 31
June 22
Do.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
The Nassau NationalBank of Brooklynin New York.
The NorthwesternNational Bank ofGrand Forks.
The American Na-iionai uanK 01Roanoke.
The CommercialTrust and SavingsBank of Joliet. .The Farmers' LoanState Bank, NewYork.
Teter State Bank,Chicago.
The NorthamptonTrust Co.of Easton.
The Farmers Na-tional Bank of No-komis.
The Bank of Reedy..The Cartersville Na-
tional Bank, Car-tersville.
The First AmericanSavings Bank, Lim-ited, Honolulu.
The Bank of Bishopand Co., Limited,Honolulu.
The Army National"Ranlr nf RphnfipirlB arracks, Honolulu.
The Fidelity Na-tional Bank of Spo-kane.
The Southwark Na-tional Bank, Phila-delphia.
The National Bankof Granville at Ox-ford.
The Colonial Na-tional Bank of Nor-folk.
N. Y...
N.Dak.
Va—__
111
N. Y_-
111
Pa
111
W. Va.
Ga
Wash..
Pa
N . C__.
Va
1,700,000
200, 000
300,000
100,000
10,000,000
1,000,000
125,000
75,000
25,000
100,000
200,000
2,000,000
100,000
500,000
500,000
152,600
475,000
1,500,000
50,000
200,000
20,000
500,000
359,000
200,000
3,300
13,000
20,000
100,000
1,250,000
140,000
100,000
850,000
75,000
(i)
721,713
15,511
2,290
36,269
9,459,326
133,024
183
1,022
17,019
68,569
261,011
28,672
21,552
65,640
8,124
27,259,620
2,934,827
3,026,320
2,104,359
172, 523,744
26, 712,089
2, 372,094
467,492
132,321
791,875
3,157,975
24,966,495
2,280,991
5,690,286
15,106, 881
1,885,510
13193
2570
11817
512
1461
4605
1171
1934
10285
4012
1I
• 5550
13331
3(504
.5885
98851
1
The Bank of Ameri-ca National Asso-ciation New York.
The First NationalBank of GrandForks.
The Colonial Na-tional Bank ofRoanoke.
The First NationalBank of Joliet.
The National CityBank of New York.
The National Bankof the Republic,Chicago.
The First NationalBank of Easton.
The Nokomis Na-tional Bank, No-komis.
The First NationalBank of Reedy.
The First NationalBank of Carters-ville.
The First NationalBank of Hawaii, atHonolulu.
The First NationalTrust and SavingsBank of Spokane.
The Manayunk-Quaker City Na-tional Bank ofPhiladelphia.
The First NationalBank of Oxford.
The Virginia Na-tional Bank of Nor-folk.
34,340,925 35,000,000 3,364,385 384,607,480
200,000 50,000 38,926 4,848,461
700,000 300,000 115,482 5,473,877
1,000,000 250,000 155,863 18,355,017
100,000,000 100,000,000 11,246,473 1,423,593,549
7,000,000
400,000
100,000
25,000
100,000
500,000
200,000
1,000,000
100,000
500,000
1, 500,000
400,000
20,000
25,000
55,000
750,000
3,045, 635
2, 576,800
100,000
100, 000
162,937,196
135,258|i
421
8,100
62,401
75,209
5, 453, 711
do | June 27
.do
June
do
29
June
June
Do
98
29
Mar. 27
June 29
.. .do
781,3121...do
231,439
76, 792
58, 522
322,677
1,296,300
. . . do
. . . d o
7,410,283 . . . do
16,709,730
1,767,608
6,347,213
..do..
..do.,
.do..
Do.
July 1
Do.
July 2
July 3
July 5
July 6
July
July
July
July
9
13
15
30
1 New national bank did not report prior to consolidation.tsD
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 6.—Capital stock, surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, asamended February 25, 1927, for the year ended October 81, 1929, as shown by their last reports prior to consolidation—Continued
Closing banks
Char-terNo.
5083
891
12082
2525
13027
5137
4125
Title and location
Guaranty Trust Co.o ewar .
Citizens State andTrust Bank, Ed-wardsville.
The Vinita NationalBank, Vinita.
American Bank andTrust Co., Phila-delphia.
The National ParkBank of New York.
The American Na-tional Bank of Still-water.
The Third NationalBank of Pittsfield.
The Claremont Na-tional Bank of NewYork.
Merchants Trust andSavings Bank, Bat-tle Creek.
The Merchants Na-y l y ) 1 1 r%\ JTJ <"?• \ 1 I Y d X - l v t
Trust Co. of El-mira.
The Union NationalBank of Muskegon.
State
N. J.__.
Ill
Okla...
Pa
N. Y._.
Okla...
Mass—
N. Y.T_
Mich_.
Ni Y...
Mich_\
Capital
$500,000
100,000
55,000
500,000
15,000, 000
50,000
125,000
750,000
250,000
250,000
400,000
Surplus
$187,500
70,000
5,500
600,000
20,000,000
10,000
125,000
148,397
125,000
250,000
200,000
Un-dividedprofit
$123,040
5,828
222
187,288
4,500,805
863
154,516
87, 540
79,312
175,631
Aggregateresources
$2,505,991
1,179,371
655,620
5,994,263
265,653,302
769,241
1,846,205
4, 629,276
4,481,017
4, 752,225
4,685,336
Continuing banks
Char-terNo.
9912
11039
4704
723
2370
5206
1260
13260
7589
149
4398
Title and location
New Jersey Nationalj39XLJv cinci J. r u s eCo. of Newark.
The EdwardsvilleNational Bank,Edwardsville.
The First National-t>£u_LK o r v m i L a .
The Central Na-tional Bank ofPhiladelphia.
The Chase NationalBank of the City ofNew York.
The First NationalBank of Stillwater.
The Pittsfield Na-tional Bank &Trust Co., Pitts-
The Lefcourt Nor-mandie NationalBank of New York.
The Old NationalBank and TrustCo. of Battle Creek.
The Second National
The Hackley Nation-al Bank of Muske-gon.
Capital
$2,650,000
100,000
60,000
1,500,000
80,000,000
75,000
300,000
2,000,000
500,000
400,000
400,000
Surplus
$1,000,000
100,000
12,000
5,000,000
61,000,000
15,000
300,000
1,000,000
700,000
600,000
400,000
Un-dividedprofit
$355,080
45,751
5,190
1,003, 689
20, 846, 265
1,830
121,512
424, 561
23,161
503,301
329,454
Aggregateresources
$28,412,208
2,972,348
1,191, 702
40, 706,135
1,106,810,203
1,003, 722
5,254,169
15, 761, 758
13,099, 542
12, 625,824
7, 974,237
Date ofreports
1929June 29
. . .do
. . .do
. . .do
do
. . .do
___do
. . .do
. . .do
. . .do
_._do
Date ofconsoli-dation
1929Aug. 1
Aug. 15
Aug. 17
Aug. 23
Aug. 24
Aug. 29
Aug. 31
Do.
Do.
Sept. 14
Sept. 17
i3
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
2583
1802
13239
2435
296
10955
10165
4229
2783
Des Moines SavingsBank & Trust Co.,Des Moines.
The Des Moines Na-iivjidi x>anK, sJGoMoines.Manufacturers N a -tional Bank andTrust Co. of Racine.
The Yonkers TrustCo., Yonkers.
The Bryn Mawr-Nepperhan Nation-al Bank of Yonkers.
The Chapin NationalBank of Springfield.
Ridgewood Trust Co_
Second NationalBank and Trust Co.of Oswego.
The North Brook-field Na t iona lBank, North Brook-field.
The Second NationalJDCIIIK OI ±>8Xr6.
The Seattle NationalBank, Seattle.The First National
Bank, of Seattle.
35 State banks50 national banks
Iowa_._
Iowa.__
Wis
N. Y...
N. Y.._
Mass_._
N . J_
N . Y_._
Mass___
Mass___
W a s h . .
W a s h . .
400,000
1,000,000
300,000
500,000
100,000
500,000
150,000
150,000
50,000
25,000
2,000,000
1.000,000
43,055,00037, 359,600
150,000
200,000
200,000
250,000
50,000
500,000
75,000
150,000
12,500
25,000
500,000
250,000
20,897,87332, 664,697
159,644
126,260
143,815
53, 292
687
110,410
44,021
188,362
13,278
10,920
462,695
240,278
22, 201, 22310,072,492
7,176, 536
16, 519,828
7,817,874
11, 970, 743
522,295
9, 493,291
3,494, 710
3, 850,962
713,855
435,205
30, 242,808
19,828, 715
841,146,433591, 810,186
][ 2307
J457
1J
4907
5205
255
7595
1
J 1 2 8 0
(The Iowa National•I Bank of Des[ Moines.
The First NationalBank of Racine.
(The First National1 Bank of Yonkers.
The Springfield Na-f 1 f\ T1 Q 1 TJ Q Tl l rI I U 11 di 1 J3 Ot IX Jb.)
Springfield.The First National
Bank of Ridge-wood.
The First NationalBank of Oswego.
[Worcester County< National Bank ofI Worcester.
(The Dexter Horton< National Bank of( Seattle.
(76 national banks) _
i 1,200,000
500,000
} 600,000
1,000,000
100,000
200,000
1} 1,500,000j
} 3,000,000
407,975,925
800,000
500,000
500,000
1,000,000
200,000
125,000
1. 500,000
1, 500,000
374,939, 300
109,405
459,338
278,489
479,571
96, 764
61,275
473,543
886, 725
442,515
19,080,483
9,872,161
15,409,053
16,844,442
4,032,972
3,017,466
34,478, 723
45,008,701
6,833,430,951
. . . d o . . . .
do,™
...do
Oct. 4
.__do__._
...do
...do
...do
Sept. 20
Sept. 27
Sept. 30
Oct. 11
Oct. 14
Oct. 15
Oct. 21
Oct. 31
I
a
cj
Hi
co
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
244 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 7.—National banks consolidated under act of November 7, 1918, theircapital, surplus, undivided profits, and aggregate resources, pear ended October 81,1929
Con-soli-da-tionNo.
257
258
260
261
266
268
269
271
273
275
276
280
281
284
285
287
288
290
291
292
294
295
296
297
298
303
Char-terNo.
9430
5046
10630
11344
916
' 2370
238
253
5179
3857
4375
906
203
658
3236
9748
3626
11693
12154
13193
5171
5252
13193
2570
11817
1934
Title and location of bank State
Pa
D. C_._
N. C.._
Mo
Ohio...
N. Y.._
Ohio...
Pa
Tex
Oreg___
Wash..
Ky...._
Minn_.
N. Y.._
W. Va,
N. Y___
Minn_-
Wash._
.-do. . . .
N. Y_._
Okla.__
—do .._
N. Y...
N.Dak.
Va
Ill
Ga
Date ofconsol-idation
192*Dec .
__.do_
Dec.
15
31
___do
192<Jan.
Jan.
Feb.
Feb.
Feb.
Feb.
Feb.
Mar.
Mar.
Mar.
. . .do.
Apr.
Apr.
Apr.
May
May
June
June
June
June
June
July
July
July
17
26
1
'?
16
19
23
2
23
30
. . . .
13
18
20
4
20
22
?4
27
28
29
2
5
6
Capital Surplus
$50,000
2, 750,000
100,000
950,000
200,000
61,000,000
600,000
300,000
800,000
75,000
1,-900,000
800,000
4,000,000
1, 700,000
1,000, 000
300,000
2,000,000
20,000
20,000
35, 500,000
1,000,000
50,000
35, 500,000
100,000
500,000
25,000
50,000
1, 880,000
Undi-videdprofits
$35,000
580,415
37,500
150,810
19,067,309
119, 326
40, 305
467,635
21,177
554, 807
342,702
1, 570, 521
700, 410
302,987
19, 552
2,002,120
5,436
3,088,046
378, 494
67,847
5, 657, 283
53, 654
102, 790
633
22,055
438, 364
Aggregateresources
306, 555
The Springs-First Na-tional Bank of Cam-bridge Springs.
The Riggs NationalBank of Washington.
The First NationalBank of RockyMount.
Fidelity National Bankand Trust Companyof Kansas City.
The Champaign Na-tional Bank of Ur-bana.
The Chase NationalBank of the City ofNew York.
The First NationalBank and Trust Com-pany of Springfield.
First Milton NationalBank, Milton.
The Frost NationalBank of San Antonio.
United States NationalBank of McMinnville.
The National Bank ofCommerce of Seattle.
First National Bankand Trust Companyof Lexington.
The First NationalBank of Saint Paul.
The Nassau NationalBank of Brooklyn inNew York.
The Charleston Na-tional Bank, Charles-tons
American NationalBank of Jamestown.
First and AmericanNational Bank ofDuluth.
Citizens Security Na-tional Bank of Ever-ett.
The Skagit NationalBank of Mount Ver-non.
The Bank of AmericaNational Association,New York.
The First NationalBank and Trust Com-pany of Tulsa.
The First NationalBank of Miami.
The Bank of America,National Association,New York.
First National Bank ofGrand Forks.
The Colonial-AmericanNational Bank ofRoanoke.
The Nokomis NationalBank, Nokomis.
The First NationalBank of Cartersville.
Bishop First NationalBank of Honolulu.3
1 Also includes a State bank.
$100,000
3,000,000
262, 500
3,000,000
300,000
61, 000, 000
1, 000,000
300,000
1, 200, 000
125,000
2, 500,000
1, 000,000
5,000,000
1, 700,000
1,000,000
300,000
3,000,000
200,000
100,000
34, 340,925
2, 500,000
250,000
35,775,300
400,000
1,000, 000
75, 000
200,000
3,150, 000
2 Also includes 2 Territorial banks.
$2,114, 705
57, 974,981
4, 010, 494
51, 827,438
2, 460, 572
, 021, 111, 899
13, 236,132
2, 900,173
23, 339, 541
2, 306,195
32, 875, 410
14, 008, 044
110,176, 562
28, 785, 398
17, 972, 743
6, 608, 497
38,674,180
3, 340, 054
1, 644, 503
339, 503, 307
42, 603, 303
4, 610, 373
369,148, 058
7,099, 379
8, 673, 202
1,147, 551
2,079, 394
41,115, 475
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 245TABLE NO. 7.—National banks consolidated under act of November 7, 1918, their
capital, surplus, undivided profits, and aggregate resources, year ended October 31,1929—Continued
Con-soli-da-tionNo.
307
308
309
310
313
315
316
317
318
320
321
322
323
324
325
327
328
329
CharterNo.
13331
3604
5885
9885
4704
2370
5206
1260
13260
149
4398
2307
457
653
4907
255
7595
11280
Title and location of bank
The First NationalTrust and SavingsBank of Spokane.
Commercial NationalBank and Trust Com-pany of Philadelphia.
The First NationalBank of Qranville atOxford.
The Virginia NationalBank of Norfolk
The First NationalTiank of VirritaJLJ CVJLLXV. \JX V i"LLXuc*#
The Chase NationalBank of the City ofNew York.
The American-First Na-tional Bank of Still-water.
The Pittsfield-Third
Trust Company.The Lefcourt National
Bank a±">d Trust Coof New York.
First National Bankand Trust Companyof Elmira.
The Hackley Union Na-tional Bank of Muske-gon.
lowa-Des Moines Na-tional Bank andTrus t Company,Des Moines.1
First National Bankand Trust Companyof Racine.
The First NationalBank and TrustCompany of Yonkers.1
The Springfield ChapinNational Bank andTrus t Company,Springfield.
First and Second Na-tional Bank and TrustCompany of Oswego.
Worcester County Na-tional Bank of Wor-cester.
First Seattle Dexter1 I v-v Y* 4" f\ T"l "^To "f"l i"\Tl o lH O I l O D IN ottlOIlal
Bank, Seattle.Total (46 banks)
State
Wash..
Pa
N. C.. .
Va
Okla...
N. Y.._
Okla...
Mass...
N. Y.._
..do
Mich...
Iowa
Wis_.._
N. Y___
Mass___
N. Y.._
Mass...
Wash..
Date ofconsol-idation
1929July 9
July 13
July 15
July 30
Aug. 17
Aug. 24
Aug. 29
Aug. 31
...do
Sept. 14
Sept. 17
Sept. 20
Sept. 27
Sept. 30
Oct. 11
Oct. 15
Oct. 21
Oct. 31
Capital
$500,000
2, 000,000
200,000
600, 000
80, 000
105,000, 000
125, 000
450,000
2, 857, 200
1, 237, 500
600,000
2, 000, 000
1,000,000
1,000,000
1, 500, 000
400,000
1, 535, 650
8,000, 000
291, 864,075
Surplus
$50,000
2,000,000
200,000
200,000
20,000
105,000,000
25,000
450, 000
1,000, 000
1, 237, 500
600,000
1, 000, 000
700,000
1, 000,000
1, 500, 000
300,000
1, 500,000
1, 600,000
270, 652,000
I
Undi-videdprofits
$14,119
793,711
52,376
712,342
31, 937, 500
6,942
283, 270
564, 955
313,140
735, 390
531, 971
380, 463
613, 792
428, 071
226,156
501,142
400,000
74, 322, 518
Aggregateresources
$5, 355, 564
31, 270, 562
3, 556, 997
6,627,149
1, 755, 845
1, 289, 464, 221
1, 594, 960
6, 546, 389
19, 635,817
18,182, 708
11, 797, 320
42, 475,001
17, 536, 745
28, 431, 980
26, 601, 504
7, 097, 077
36, 718, 544
103, 700, 278
3,909, 696, 231
1 Also includes a State bank.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 8.—State banks and national banks consolidated under act of February 25, 1927, their consolidated capital, surplus, undividedprofits, and aggregate resources, year ended October 31, 1929
Title and location of State bankCharterNo. of
nationalbank
Title and location of national bank StateDate ofconsoli-dation
Capital Surplus Undividedprofits
Increase inauthorized
capital
Oxford Bank and Trust Company,Philadelphia.*
Peoples State Bank of SullivanSecond Ward Savings Bank of Mil-
waukee.2Cobbs Creek Title and Trust Com-
pany of Philadelphia.First Trust and Savings Bank of La
Porte.The Exchange Trust Company, Little.
Rock.
The Citizens Trust Company, Allen-town.
The State Savings Bank of LapeerThe Frackelton State Bank of Peters-
burg. *The Chattanooga Savings Bank and
Trust Company.Rawson State Bank, ChicagoLincoln Trust Company of New Jersey.The Hamilton Trust & Savings Bank
of Chattanooga.3Griswold-First State Bank, Detroit *.
The American Exchange Bank, Port-land.
Liberty Central Trust Company, St.Louis.
Security Trust & Savings Bank, Los
Union Trust Company, Charleston 6_ _
The Peoples State Bank of Richmond.Marathon County Bank, WausauThe Boone County Bank of Madison. _The Commercial Trust and Savings
Bank of Joliet.The Farmers' Loan State Bank, New
York.
542
539264
13180
377
3300
6645
17313043
1606
8374
7848
8703
12557
170
2491
3236
1172847446510512
1461
Corn Exchange National Bank andTrust Company, Philadelphia.
The National Bank of Sullivan._.First Wisconsin National Bank of
Milwaukee.City National Bank & Trust Com-
pany of Philadelphia.The First National Bank of La Porte..
The Exchange National Bank of LittleRock.
The Merchants National Bank ofAllentown.
The First National Bank of Lapeer...The First National Bank of Peters-
burg.The First National Bank of Chat-
tanooga.The First National Bank of Chicago-.The First National Bank of Jersey City.The Hamilton National Bank of Chat-
tanooga.The National Bank of Commerce of
Detroit.Portland National Bank, Portland,._.
First National Bank in St. Louis
Los Angeles-First National Trust &Savings Bank, Los Angeles.
The Charleston National Bank,Charleston.
The First National Bank of Richmond.American National Bank of Wausau..The Madison National Bank, Madison.The First National Bank of Joliet
The National City Bank of New York.
Pa- —
I n d . . .Wis__.
P a . - _
I n d . . .
Ark . . .
Pa
Mich .Ill
T e n n .
111N.J_._
Tenn.
Mich.
Ore_._
Mo
Calif. _
W.Va.
KansWis___W.Va111N.Y.
1928Nov. 1
Nov. 19Dec. 15
Dec. 28
Dec. 31
...do
1929Jan. 7
Jan. 15Jan. 23
Feb. 2
Feb. 11Feb. 18Feb. 26
Feb. 28
...do
Mar. 23
Mar. 30
...do
...doApr. 20May 31June 29
—do
$3,033,333
150,0009, 000,000
1,125,000
300,000
400,000
1,000,000
120,000200,000
2, 500,000
24,000,0001,600,0002,000,000
5,000,000
400,000
11,000,000
30,000,000
1,000,000
25,000600, 000100,000
1,040,000
110, 000,000
$8,000,000
50,0005,000,000
1,000,000
200,000
100,000
2,000, 000
120,00020,000
1, 500,000
20,000,0001,600,0001,000,000
6,000,000
80,000
5, 000,000
15,000,000
1,000,000
5,000300, 000150,000250,000
100,000,000
$800,613
25,0001,991,979
186,810
100,000
197, 432
361, 808
27,858750
821,166
5, 323, 587200,000442, 914
1,077, 296
26,558
4, 287,868
8, 733, 500
302,987
187, 34810, 000
250,000
25,260,406
$95,780,946
3, 212, 584177, 261,961
9, 783,958
5,656, 564
6,936,679
13,000,819
2,375, 4291,374, 678
31,068, 680
445,033, 92626, 633, 58024, 371, 598
108,669,131
6,267, 299
192,413,897
619,131,186
17,972,743
327,1987,826,0141,461, 549
20,980,904
1, 669,890,689
$333,333
3,000,000
125,000
50,000
100,000
600,000
45,000100,000
1, 250,000
4,000,000600,000500,000
2,500,600
200,000
1,000,000
16,250,000
375,000
200, 000
40,"600
10,000,000
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Limited, Honolulu.7Guaranty Trust Company of Newark..
Citizens State and Trust Bank, Ed-war dsville.
American Bank and Trust Company,Philadelphia.s
Merchants Trust and Savings Bank,Battle Creek.9
Des Moines Savings Bank & TrustCompany, Des Moines.6
The Yonkers Trust C o m p a n y ,Yonkers 610
Ridgewood Trust Company
4605
1171
10285
6 5550
9912
11039
723
7589
2307
653
5205
The National Bank of the Republic ofChicago.
The First National Bank of Easton.__
The First National Bank of Reedy
fThe First National Bank of Hawaii,I at Honolulu.
New Jersey National Bank and TrustCompany of Newark.
The Edwardsville National Bank, Ed-wards ville.
The Central National Bank of Phila-delphia.
The Old National Bank and TrustCompany of Battle Creek.
The Iowa National Bank of DesMoines.
The First National Bank of Yonkers..
The First National Bank of Ridge-wood.
Total (35 State banks with 34national banks).
Ill
Pa
W.Va.
}J
N. J._.
Ill
Pa____
Mich.
Iowa_.
N. Y__
N. J...
July
do
July
July
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Oct.
1
3
6
1
15
23
31
20
30
14
10, 000, 000
600,000
35, 000
3,150, 000
2,800,000
200, 000
1, 700, 000
1, 000,000
2, 000, 000
1, 000,000
400, 000
227,478, 333
2, 000,000
600,000
35,000
1, 880,000
1,000,000
100,000
5, 900, 000
1, 000,000
1, 000, 000
1,000,000
400, 000
183, 290, 000
1, 000, 000
430,129
438, 364
597,011
1, 286, 995
164,814
531, 971
613,792
301,445
55,980,401
189,415,263
7, 874,915
432, 784
41,115,475
30, 233, 803
3, 964,245
44, 589, 631
18,197, 516
42,475,001
28,431,980
7, 573,009
3, 901, 735, 634
3, 000, 000
200,000
10,000
2, 550, 000
150,000
100, 000
200,000
500,000
ii 200,000
300,000
300,000
r48, 578, 333n 200, 000
.48, 378,333
Io
i3
and 1
With 4 branches in Philadelphia.With 2 branches in Milwaukee.With 3 branches in Chattanooga.With 16 branches in Detroit.With 48 branches in the State of California.This consolidation also includes a national bank.With 5 branches in the Territory of Hawaii, 1 at Waialua in the city of Honolulu, 1 at Hilo, Co. of Hawaii, 1 at Kealakekua, Co. of Hawaii, 1 at Waimea, Co. of Kauai,at Lanai, Co. of Maui.With 1 branch in Philadelphia.With 1 branch in Battle Creek.With 2 branches in Yonkers.Decrease in capital.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
248 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 9.—Number and capital of State banks converted into national bankingassociations in each State and Territory from 1863 to October 81, 1929
1 Of these cases, 85 were effected wholly or in part by stock dividends aggregating $7,680,300.2 Of these cases, 67 were effected wholly or in part by stock dividends aggregating $8,846,400.3 Of these cases, 73 were effected wholly or in part by stock dividends aggregating $6,776,350.* Of these cases, 77 were effected wholly or in part by stock dividends aggregating $16,809,000.* Of these cases, 80 were effected wholly or in part by stock dividends aggregating $20,793,750.
TABLE NO. 12.—Number and authorized capital of national banks chartered andthe number and capital stock of banks closed in each year ended October 31, since1913, with the yearly increase or decrease
1 Amount of capital stock reductions incident to consolidations.2 Includes 2 banks with an aggregate capital of $85,000 restored to solvency. Also includes 6 banks with
an aggregate capital of $635,000 which had been placed in voluntary liquidation by their shareholdersprior to Nov. 1, 1928.
s There was a decrease of 201 banks, considering the 2 banks restored to solvency and the 6 banks whichwere in voluntary liquidation.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
250 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 13.—Total number of national banks organized, consolidated underact of November 7, 1918, insolvent, in voluntary liquidation, and in existence onOctober 31, 1929
Total United States, Alaska, and insular pos-sessions
Organ-ized
1137477
35565
119
803
947382
1,15430
12830
2,671
2361641301131701211646986
1,058125232195
2,863
637403717268242457504276
3,504
24920636143619057
20578
718
2,500
209139497108381630
1,037
561
12
13, 390
Consoli-datedunder
act Nov.7, 1918
111
1224
21
401226
14
83
1244551
12
12175
59
197535548
56
21142
3
7
20
131
12
2
28
1
1
268
Insol-vent
47
1626
35
521055
124
124
89
182223291548
70156
11
238
4028391814689818
323
686250496312292457
414
32142527423
107
1,241
In liqui-dation
591323
1745147
367
29459
215124310
633
543442346332422942
353358180
921
25814518911766
114* 143
119
1, 151
5451
15113557205326
352
899
5830
24438124
12
398
141
6
4, 375
In exist-ence
535646
1531062
380
561301858
178212
1,831
16211766527959
1073534
62374
13899
1,645
320223484130157270259131
1,974
12592
1592486825
12028
302
1,167
10694
21643201015
504
41
5
7,506
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 251TABLE NO. 14.—Changes of corporate title of national banks, year ended October 31 y
1929
Char-terNo.
Title and location Date
10112
12351
8704
7668
12418
13241
2340
12876
11082
2899
2900
5876
9343
13253
7011
13185
4425
5594
5216
13045
12609
3755
12922
6531
9305
13187
5578
8131
8079
8191
546
11668
5832
8847
13235
2714
667
5497
10245
11025
American Exchange National Bank of Greensboro, N. C, to "American National Bankand Trust Company of Greensboro" _
United States National Bank of Kenosha, Wisconsin, to "United States National BankTrust Company of Kenosha" _ _
The First National Bank of Beverly, N. J., to " First National Bank and Trust Companyof Beverly "___ _
The City National Bank of Corpus Christi, Texas, to "The City National Bank andTrust Company of Corpus Christi"
The Brotherhoods Co-Operative National Bank of Spokane, Washington, to "CityNational Bank of Spokane"___
The Needham National Bank for Savings and Trusts, Needham, Mass., to "NeedhamNational Bank"
The First National Bank of Milford, Delaware, to " The First National Bank and TrustCompany of Milford"
The Peoples National Bank of Irvington, New Jersey, to "The Peoples National Bank& Trust Company of Irvington"
The Peoples National Bank of Hamtramck, Michigan, to "The First National Bank ofHamtramck"_. __ ___
The Penn National Bank of Reading, Pa., to " Penn National Bank and Trust Companyof Reading"
The Farmers National Bank of Boyertown, Pa., to "The Farmers National Bank andTrust Company of Boyertown" _
The First National Bank of Chicago Heights, Illinois, to " The First National Bank andTrust Company of Chicago Heights"
The American National Bank of Danville, Virginia, to "American National Bank &Trust Company of Danville". .-
The Ashland-69th National Bank of Chicago, Illinois, to " The South Ashland NationalBank of Chicago"
The First National Bank of Plainfield, Indiana, to " The First National Bank and TrustCompany of Plainfield" __.
The Pelham National Bank and Trust Company of Philadelphia, Pa., to " TulpehockenNational Bank and Trust Company of Philadelphia"
The Joplin National Bank, Joplin, Missouri, to "The Joplin National Bank and TrustCompany" -.
The Commercial National Bank of St. Joseph, Michigan, to "The Commercial NationalBank and Trust Company of St. Joseph"
The First National Bank of Sehuylkill Haven, Pa., to "The First National Bank andTrust Company of Schuylkill Haven"_
The Seward National Bank of New York, N. Y., to "The Seward National Bank andTrust Company of New York" _._
First National Bank of Glen Rock, N. J., to "Glen Rock National Bank"The Central National Bank of Attica, Indiana, to "The Central National Bank and
Trust Company of Attica"National Exchange Bank in St. Paul, Minn., to "The Empire National Bank of St.
Paul"The Citizens National Bank of Lehighton, Pa., to "Citizens National Bank and Trust
Company of Lehighton"The City National Bank of Gloversville, N. Y., to "City National Bank and Trust
Company of Gloversvilie "The National Bank for Savings in Los Angeles, Calif., to "The Western National Bank
in Los Angeles"The Monroe County National Bank of East Stroudsburg, Pa., to "Monroe County
National Bank and Trust Company of East Stroudsburg"The Wernersville National Bank, Wernersville, Pa., to "The Wernersville National
Bank and Trust Company"The Farmers National Bank of Fort Gibson, Oklahoma, to "First National Bank in
Fort Gibson "The First National Bank of Roscoe, N. Y., to "The First National Bank & Trust Com-
pany of Roscoe "The National Bank of Germantown, Philadelphia, Pa., to "National Bank of German-
town and Trust Company, Philadelphia"The Security National Bank of Faribault, Minn., to "The Security National Bank and
Trust Company of Faribault"_The Citizens' National Bank of W aynesboro, Pa., to " Citizens National Bank and Trust
Company of Waynesboro"The First National Bank of Griffin Corners, Fleischmanns, N. Y., to "The First
National Bank of Fleischmanns"The Hyde Park National Bank of Chicago, 111., to " The Hyde Park-Kenwood National
Bank of Chicago"The First National Bank of Ann Arbor, Mich., to "The First National Bank and Trust
Company of Ann Arbor"The First National Bank of Mount Joy, Pa., to "The First National Bank and Trust
Company of Mount Joy"The First National Bank of Brockwayville, Pa., to "The First National Bank of Brock-
way "The First National Bank of Bradentown, Florida, to "The First National Bank of
Bradenton"The First National Bank of Sherman, Calif., to "West Hollywood First National
Bank" to conform to change in name of the district in which the bank is located
1928Nov. 1
Do.
Nov. 15
Nov. 20
Dec. 1
Dec. 28
Dec. 31
1929Jan. 9
Jan. 11
Jan. 12
Do.
Do.
Do.
Do.
Jan. 15
Do.
Jan. 17
Jan. 18
Jan. 19
Jan. 21Jan. 22
Jan. 25
Jan. 31
Feb. 1
Feb. 5
Feb. 11
Feb. 15
Feb. 18
Mar. 19
Mar. 20
Mar. 21
Mar. 22
Apr. 1
Apr. 8
Apr. 19
Apr. 20
Apr. 23
Apr. 24
Apr. 25
Apr. 29
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
252 EEPOKT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 14.—Changes of corporate title of national banks, year ended October 31,1929—Continued
Char-terNo.
Title and location Date
13141
3393
S24912014
11909
13016
6587
1249
12613
11873
12055
11655
1743
7038
1380
7958
12518
128573598
11931
1178
1392
3069
12771.3491
2468
4495
13003
13215
13007
292
3326
6094
1946
13098
4385
474
13276
6077
The Roslyn National Bank, Roslyn, Pa. , removed from Roslyn, Montgomery County ,to Glenside, Montgomery County , and title changed to " T h e Keswick Nat ionalBank of Glenside " _
T h e Minnehaha National Bank of Sioux Falls, S. Dak . , to " T h e First National Bankand Trus t Company in Sioux Fa l l s " _ _
The Citizens National Bank of Higgins, Texas, to " First National Bank in Higgins"T h e City National Bank of Hackensack, N . J., t o " T h e C i ty National Bank and Trus t
Company of Hackensack "T h e Palisades Pa rk National Bank, Palisades Park , N . J. , t o " T h e Palisades P a r k
National Bank & Trus t C o m p a n y "Brotherhood National Bank of San Francisco, Calif., t o " C i t y National Bank of San
Francisco"The First National Bank of Hunt ington, New York, to " First National Bank and Trus t
Company of H u n t i n g t o n "The First National Bank of New Canaan, Conn., t o " T h e First National Bank & Trus t
Company of New C a n a a n "Brotherhood Co-Operative National Bank of Port land, Oregon, to "Brotherhood
National Bank of Portland "The California National Bank of Long Beach, Calif., t o " California First National Bank
of Long Beach"The Public National Bank of Houston, Texas, to " T h e Public National Bank & Trus t
Company of Houston "T h e Richmond Hill National Bank of New York, N . Y., to " T h e Richmond National
Bank of New Y o r k "T h e National Security Bank of Philadelphia, Pa. , t o " T h e National Security Bank and
Trus t Company of Phi ladelphia"T h e Farmers and Merchants National Bank of Reno, Nevada, to " First National Bank
in R e n o " _T h e Merchants National Bank of Poughkeepsie, New York, to "Merchan t s National
Bank & Trus t Company of Poughkeepsie" _T h e First National Bank of West Minneapolis, Minn. , to "Firs t National Bank of Hop-
k ins , " to conform to change in name of place in which the bank is locatedSecurity National Bank of West Minneapolis, Minn. , t o "Secur i ty National Bank of
Hopkins , " to conform to change in name of place in which the bank is locatedNew First National Bank in Lemmon, S. Dak. , to " First National Bank in L e m m o n "The First National Bank of West Newton, Newton, Mass . , to " First National Bank of
N e w t o n " _T h e Farmers National Bank of Arlington, Texas, to " T h e First National Bank of
Arl ington"The Citizens National Bank of Ful ton, N . Y. , to "Ci t izens National Bank and Trus t
Company of Ful ton "The Oneida National Bank of Utica, N . Y. , to " T h e Oneida National Bank and Trus t
Company of U t i c a " .The Whitney-Central National Bank of New Orleans, La., to " Whitney National Bank
of New Orleans "Labor National Bank of Newark, N . J., to " U n i o n National Bank in N e w a r k "The Northwestern National Bank of Philadelphia, Pa . , to " The Northwestern National
Bank and Trus t Company of Phi ladelphia"The Briggs National Bank of Clyde, N . Y., to " The Briggs National Bank & Trus t Com-
p a n y of C l y d e "The First National Bank of Walton, N . Y., to " T h e First National Bank and Trus t
Company of W a l t o n "The Tioga National Bank of Philadelphia, Pa . , to " T h e Tioga National Bank and Trus t
Company of Phi lade lphia" TThe Point Pleasant Beach National Bank, Point Pleasant Beach, N . J., to " P o i n t
Pleasant Beach National Bank and Trus t C o m p a n y "The First National Bank of La Crescenta Valley at Verdugo City, Los Angeles County ,
Calif., to "Crescenta-Canada National Bank a t Montrose ," Los Angeles County ,Calif
The First National Bank of Baldwinsville, New York, to " T h e First National Bankand Trus t Company of Baldwinsvi l le"
The Aberdeen National Bank, Aberdeen, South Dakota , to "Aberdeen National Bank& Trus t C o m p a n y "
The National Exchange Bank of Carthage. Carthage, N . Y. , to " T h e National ExchangeBank & Trus t Company of 'Carthage"
The Thi rd National Bank of Scranton, Scranton, Pa. , to " T h i r d National Bank andTrus t Company of Scranton"
The West Side National Bank of Denver, Denver, Colo., to " The National Ci ty Bank ofDenver.
The First National Bank of Muskogee, Okla., to " T h e First National Bank and Trus tTrust Company of Muskogee"
The First National Bank of Greenfield, Mass. , to " F i r s t National Bank & Trus t Com-pany of Greenfield"
The South Oklahoma National Bank of Oklahoma City, Okla., to "Oklahoma NationalBank of Oklahoma C i t y " . -
The Nazareth National Bank, Nazareth, Pa. , to " T h e Nazareth National Bank andTrust C o m p a n y " . _ _ _ __.
192SApr.
MayDo.
May
May
Do.
May
May
June
June
June
June
June
June
July
Do.
Do.Do.
July
Do.
July
Aug.
Aug.Do,
Aug.
Aug.
Do.
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Sept.
Oct.
Oct.
Oct.
29
1
6
15
16
17
4
10
13
15
22
24
1
15
22
1
2
3
9
20
22
31
31
3
3
16
16
30
1
1
23
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOET OF THE COMPTROLLER OF THE CURRENCY 253
TABLE NO. 15.—Changes of corporate title incident to consolidations of nationalbanks, and of State banks with national banks, year ended October SI, 1929
Peoples State Bank of Sullivan, Ind., and The National Bank of Sullivan (5392), consolidated under thecharter of the latter with title: Peoples National Bank and Trust Company of Sullivan.
The First National Bank of Cambridge Springs, Pa. (6533), and The Springs National Bank of Cam-bridge Springs (9430), consolidated under the charter of the latter with title: The Springs-First NationalBank of Cambridge Springs.
The First National Bank of Rocky Mount, N. C. (7362), and The National Bank of Rocky Mount (10630),consolidated under the charter of the latter with title: The First National Bank of_Rocky Mount.
First Trust and Savings Bank of La Porte, Ind., and The First National Bank of La Porte (377), consoli-dated under the charter of the latter with title: First National Bank and Trust Company of La Porte.
The Citizens Trust Company, Allentown, Pa., and The Merchants National Bank of Allentown (6645),consolidated under the charter of the latter with title: The Merchants-Citizens National Bank and TrustCompany of Allentown.
The Frackelton State Bank of Petersburg, 111., and The First National Bank of Petersburg (3043), con-solidated under the charter of the latter with title: The State National Bank of Petersburg.
The Milton National Bank, Milton, Pa. (711), and The First National Bank of Milton (253), consoli-dated under charter of the latter with title: First Milton National Bank.
United States National Bank of McMinnville, Oreg. (9806), and The McMinnville National-Bank,McMinnville (3857), consolidated under the charter of the latter with title: United States National Bank ofMcMinnville.
The American Exchange Bank, Portland, Oreg., and Portland National Bank, Portland (12557), consoli-dated under the charter of the latter with title: The American National Bank of Portland.
Phoenix National Bank and Trust Company of Lexington, Ky. (3052), and The First and City NationalBank of Lexington (906), consolidated under the charter of the latter with title: First National Bank andTrust Company of Lexington.
Security Trust & Savings Bank, Los Angeles, Calif., and Los Angeles-First National Trust & SavingsBank, Los Angeles (2491), consolidated under the charter of the latter with title: Security-First NationalBank of Los Angeles.
Granite National Bank of Brooklyn in New York, N. Y. (12980), and Nassau National Bank of Brook-lyn (658), consolidated under the charter of the latter with title: The Nassau National Bank of Brooklynin New York.
Peoples State Bank of Richmond, Kans., and The First National Bank of Richmond, Kans. (11728),consolidated under the charter of the latter with title: The Peoples National Bank of Richmond.
American Exchange National Bank of Duluth, Minn. (9374), and The First National Bank of Duluth(3626), consolidated under the charter of the latter with title: First an d American National Bank of Duluth.
The Citizens National Bank & Trust Company of Everett, Wash. (13290), and The Security NationalBank of Everett (11693), consolidated under the charter of the latter with title: Citizens Security NationalBank of Everett.
The Boone County Bank of Madison, W. Va., and The Madison National Bank, Madison (6510), con-solidated under the charter of the latter with title: Boone National Bank of Madison.
The Northwestern National Bank of Grand Forks, N. Dak. (11142), and The First National Bankof Grand Forks (2570), consolidated under the charter of the latter with title: First National Bank ofGrand Forks.
The American National Bank of Roanoke, Va. (10532), and The Colonial National Bank of Roanoke(11817), consolidated under the charter of the latter with title: The Colonial-American National Bankof Roanoke.
The Northampton Trust Company of Easton, Pa., and The First National Bank of Easton, Pa. (1171),consolidated under the charter of the latter with title: First National Bank and Trust Company ofEaston.
The First American Savings Bank, Limited, Honolulu, The Bank of Bishop and Company, Limited,Honolulu. The Army National of Schofield Barracks, Honolulu (11050), and The First National Bankof Hawaii, at Honolulu (5550), consolidated under the charter of the latter with title: Bishop First NationalBank of Honolulu.
The Southwark National Bank, Philadelphia, Pa. (560), and The Manayunk-Quaker City NationalBank of Philadelphia (3604), consolidated under the charter of the latter, with title: Commercial NationalBank and Trust Company of Philadelphia.
The National Bank of Granville at Oxford, N. C. (8996), and The First National Bank of Oxford (5885),consolidated under the charter of the latter with title: The First National Bank of Granville at Oxford.
Citizens State and Trust Bank, Edwardsville, 111., and The Edwardsville National Bank, Edwardsville(11039), consolidated under the charter of the latter, with title: Edwardsville National Bank and TrustCompany.
The American National Bank of Stillwater, Okla. (12082), and The First National Bank of Stillwater(5206), consolidated under the charter of the latter with title: The American-First National Bank ofStillwater.
The Third National Bank of Pittsfleld, Mass. (2525), and The Pittsfield National Bank & Trust Com-pany, Pittsfield (1260), consolidated under the charter of the latter with title: The Pittsfield-ThirdNational Bank and Trust Company.
The Claremont National Bank of New York, N. Y. (13027), and The Lefcourt Normandie NationalBank of New York (13260), consolidated under the charter of the latter with title: The Lefcourt NationalBank and Trust Co. of New York.
Merchants Trust and Savings Bank, Battle Creek, Mich., and The Old National Bank and TrustCompany of Battle Creek (7589), consolidated under the charter of the latter with title: Old-MerchantsNational Bank and Trust Company of Battle Creek.
The Merchants National Bank and Trust Company of Elmira, N. Y. (5137), and The Second NationalBank of Elmira (149), consolidated under the charter of the latter with title: First National Bank & TrustCompany of Elmira.
The Union National Bank of Muskegon, Mich. (4125), and The Hackley National Bank of Muskegon(4398), consolidated under the charter of the latter with title: The Hackley Union National Bank ofMuskegon.
I>es Moines Savings Bank & Trust Company, Des Moines, Iowa, The Des Moines National Bank,Dec Moines (2683), and The Iowa National Bank of Des Moines (2307), consolidated under the charterof the latter with title: lowa-Des Moines National Bank & Trust Company, Des Moines.
Manufacturers National Bank and Trust Company of Racine, Wis. (1802), and The First NationalBank of Racine (457), consolidated under the charter of the latter with title: First National Bank andTriist Company of Racine.
The Yonkers Trust Company, Yonkers, N. Y., The Bryn Mawr-Ncpperham National Bank of Yonkcrs(13239), and The First National Bank of Yonkers (653), consolidated under the charter of the latter withtitle: The First National Bank & Trust Company of Yonkers.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
254 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 15.—Changes of corporate title incident to consolidations of nationalbanks, and of State banks vnth national banks, year ended October 81, 1929—Con.
The Chapin National Bank of Springfield, Mass. (2435), and The Springfield National Bank, Springfield(4907), consolidated under the charter of the latter with title: The Springfield Chapin National Bank andTrust Company.
Ridgewood Trust Company, N. J., and The First National Bank of Ridgewood (5205), consolidatedunder the charter of the latter with title: First National Bank and Trust Company of Ridgewood.
Second National Bank and Trust Company of Oswego, N. Y. (296), and The First National Bank ofOswego (255), consolidated under the charter of the latter with title: First and Second National Bank andTrust Company of Oswego.
The Seattle National Bank, Seattle, Wash. (4229), The First National Bank of Seattle (2783), andThe Dexter Horton National Bank of Seattle (11280), consolidated under the charter of the latter withtitle: First Seattle Dexter Horton National Bank.
TABLE NO. 16.—National banks chartered during the year ended October 81, 1929
Woodlawn-American National Bank of Birmingham, Birmingham.Leeds-American National Bank of Leeds, Leeds
Total (2 banks). __
ARIZONA
First National Bank in Prescott, Prescott
ARKANSAS
First National Bank in Siloam Springs, Siloam Springs
First National Bank in McGehee, McGehee
Total (2 banks) _
CALIFORNIAWinter National Bank, WinterFirst National Bank of Loma Linda, Loma LindaArcadia National Bank, Arcadia __.San Jose National Bank, San JoseFirst National Bank in Yreka, YrekaBeverly Hills National Bank & Trust Co., Beverly HillsCitizens National Bank of Cqlton, ColtonMechanics & Merchants National Bank of Vallejo, ValleioFirst National Bank of Pacific Grove, Pacific GroveSalinas National Bank, Salinas___
Total (10 banks)
DELAWARE
First National Bank in Georgetown, Georgetown i.
FLORIDA
West Palm Beach Atlantic National Bank, West Palm BeachPolk County National Bank in Bartow, Bartow 2 _.First National Bank of Brooksville, BrooksvillePalmer National Bank and Trust Company of Sarasota, Sarasota__Florida National Bank at Lakeland, LakelandAmerican National Bank in Winter Haven, Winter HavenBarnett National Bank of Deland, DelandFlorida National Bank at Bartow, BartowBarnett National Bank of Cocoa, Cocoa
Total (9 banks) _
IDAHO
First National Bank in Driggs, DriggsFirst National Bank in Coeur d'Alene, Coeur d'Alene
1 Placed in voluntary liquidation June 11, 1929.2 Receiver appointed June 28, 1929.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 255TABLE NO. 16.—National banks chartered during the year ended October 81, 1929—
Continued
Char-terNo.
Title Capital
132531325813311133721337313382
133051331713378
1326313321
1332913347
13345
1325213283133S613387
13255132691329713303133421335013353
Ashland-69th National Bank of Chicago, Chicago 3Security National Bank of Do^vners Grove, Downers Grove...Peoples National Bank & Trust Co., of Chicago* ChicagoStandard National Bank of Chicago, Chicago. __ _"_Citizens National Bank of Chicago Heights, Chicago Heights.Terminal National Bank of Chicago, Chicago
Total (6 banks).
Old National Bank of Bluff ton, Bluffton...First National Bank in Bluffton, Bluffton.Franklin National Bank, Franklin
Total (3 banks).
Farmers National Bank in Vinton, VintonCentral National Bank & Trust Co., of Des Moines, Des Moines..
Total (2 banks).
First National Bank in Cimarron, Cimarron_Girard National Bank, Girard
Total (2 banks)
LOUISIANA
Lafourche National Bank of Thibodaux, Thibodaux.
MASSACHUSETTS
Newton National Bank, NewtonCohasset National Bank. CohassetSecond National Bank of Barre, BarreNorth Brookfield National Bank, North Brookfleld.
Total (4 banks).
13307 City National Bank & Trust Co., of Niles, Michigan13328 American National Bank of Grand Rapids, Grand Rapids _
Total (2 banks).
MINNESOTA
First National Bank of Winnebago, WinnebagoJackson National Bank in Jackson, Jackson —First National Bank in Moorhead, Moorhead.-First National Bank in Deer Creek, Deer CreekFirst National Bank in Amboy, Aniboy..Northneld National Bank & Trust Co., Northfield—American National Bank of Little Falls, Little Falls.
Total (7 banks).
13S13 First National Bank of Lexington, Lexington.
132641326813270132931336713376
South Side National Bank of St. Louis, St. Louis...National Bank of Unionville, UnionvilleVandeventer National Bank of St. Louis, St. Louis.Ludlow National Bank, Ludlow __.First National Bank in Versailles, VersaillesPlaza National Bank of St. Louis, St. Louis
Total (6 banks) --3 Title changed to "The South Ashland National Bank of Chicago."
$200,000100,000
1,000,000300, 000200,000750,000
2, 550,000
100, 000100,00050, 000
250,000
75,000250,000
325,000
25, 00030,000
55,000
50,000
200,00050,00050,00025,000
325,000
150,000500,000
650,000
25,00040,000100,00025,00025,000100,000100,000
415,000
50, 000
200,00040,000250, 00025, 00030, 000300, 000
845, 000
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
256 IlEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 16.—National banks chartered during the year ended October 31, 1929-Continued
First National Bank of Lyman, Lyman. . .Wakefield National Bank, WakefieldFirst National Bank of Minatare, MinatareNebraska National Bank of Minden, Mmden..-.Continental National Bank of Lincoln, Lincoln.First National Bank of Oakdale, Oakdale..
Total (6 banks) .
NEW JERSEY
Woodridge National Bank, WoodridgeCentral National Bank of Leonia, LeoniaAsbury Park Nationa 1 Bank & Trust Co., Asbury ParkBergen County National Bank of Ilackensack, Hackensack.First National Bank of Sayreville, Sayreville
Total (5 banks) _
NEW YORK
Commercial National Bank & Trust Co. of New York, New York.Straus National Bank & Trust Co. of New York, New York _.Lefcourt Normandie National Bank of New York, New YorkHamilton County National Bank of Wells, WellsBrooklyn National Bank of New York, New YorkSterling National Bank & Trust Co., of New York, New YorkNational Bank of Queens County in New York, New YorkBlair National Bank of New York, New York 4
Kingsboro National Bank of Brooklyn in New York, New York. . .Harbor National Bank of Port Washington, Port WashingtonNanuet National Bank, NanuetCentral National Bank of Yonkers, YonkersRoslyn National Bank & Trust Co., RoslynBroadway National Bank & Trust Co. of New York, New York. . .First National Bank & Trust Co. of Rochester, RochesterNational Bank of Bayside in New York, New YorkFort Greene National Bank in New York, New YorkWashington Square National Bank of New York, New YorkFirst National Bank of La Fargeyille, La FargeviileSouthside National Bank of Elmira, ElmiraNewtown National Bank of New York, New York _
Total (21 banks).
NORTH CAROLINA
First National Bank of New Bern, New Bern &__.Edgecombe National Bank of Tarboro, Tarboro..
Total (2 banks).
NORTH DAKOTA
Merchants National Bank & Trust Co. of Fargo, FargoNational Bank of Valley City, Valley CityNational Bank & Trust Co. of Jamestown, JamestownRed River National Bank & Trust Co. of Grand Forks, Grand Forks..First National Bank in Cooperstown, CooperstownAmerican National Bank & Trust Co. of Valley City, Valley City
Total (6 banks).
West Toledo National Bank of Toledo, Toledo..First National Bank in Crestline, CrestlinePainesville National Bank & Trust Co.._ ..
* Consolidated on May 20, 1929, with The Bank of America National Association, New York, under actof Nov. 7, 1918.
« Receiver appointed Oct. 26,1929.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EBPORT OF THE COMPTROLLER OF THE CURRENCY 257TABLE NO. 16.—National banks chartered during the year ended October 31, 1929—
Continued
Char-terNo.
132761335513361
132941329913354
Title Capital
OKLAHOMA
South Oklahoma National Bank of Oklahoma City, Oklahoma City 6First National Bank in Pawhuska, PawhuskaOklahoma First National Bank of Skiatook, Skiatook
Total (3 banks) _
Central National Bank of Portland, PortlandCitizens National Bank of Portland, Oreg., Portland.National Bank of Commerce of Astoria, Astoria
! Total (3 banks).
PENNSYLVANIA
$100,000100,000
25, 000
225, 000
200,000200, 000100, 000
500, 000
1325113325133411337113381
13282132861330213346
13349
132571325913266132721327713279132841328513287 j13291 !13315 I
Peoples National Bank of Souderton, SoudertonNorth Broad National Bank of Philadelphia, PhiladelphiaLehigh National Bank of Philadelphia, PhiladelphiaLawrence Park National Bank 7
Citizens National Bank & Trust Co, of Blossburg, Blossburg-
Total (5 banks)
100. 000250, 000200, 00050, 000125, 000
725, 000
SOUTH DAKOTA
First National Bank in Mount Veraon, Mount VernonFirst National Bank in Arlington, ArlingtonFarmers National Bank of Fairfax, FairfaxFirst National Bank & Trust Co. of Vermilion, Vermilion.
! 25,000_ j 25,000
. - ! 25,000| 109,000
Total (4 banks) _ j 175,000
TENNESSEE
Union Planters National Bank & Trust Co. of Memphis, Memphis s 3, 500, 000
First National Bank in Mount Pleasant, Mount Pleasant..Planters National Bank of Detroit, Detroit 9
Pecan Gap National Bank, Pecan GapFirst National Bank in Valley Mills, Valley MillsFirst National Bank in Farmersville, FarmersvilleKosse National Bank of Kosse, KosseFirst National Bank in Electra, ElectraFirst National Bank in Khome, Ilhome.State National Bank in Terrell, TerrellPampa National Bank, Pampa -First National Bank of Edinburg, Edinburg
75, 00025, 00025, 00035, 00025, 00025, 000
100, 00025, 000
100, 00050. 00050, 000
Total (11 banks). 535, 000
! VERMONT
13261 | First National Bank in Poultnoy, Poultney
| VIRGINIA
13275 j Citizens National Bank of Front Royal, Front Koval _J13343 j Colonial National Bank of Norfolk, Norfolk "> _ _.._ j
j Total (2 banks)
WASHINGTON
13290 I Citizens National Bank & Trust Co. of Everett, Everett*1333113351
First National Trust & Savings Bank of Spokane, Spokane....American National Bank of Port Townsend, Port Townsend.
.3374 ! Stan wood National Bank, Stanwood..1 Total (4 banks) . . .
100, 000
60, 000475, 000
5S5, 000
100, 000200, 00050, 00050, 000
400, 000
6 Title changed to " Oklahoma National Bank of Oklahoma City."7 P. O. Erie, Pa.8 With 2 branches in Memphis.9 Placed in voluntary liquidation on May 13, 1929.10 Consolidated on July 30, 1929, with The Virginia National Bank of Norfolk under act Nov. 7, 1918.11 Consolidated on Apr. 20, 1929, with the Citizens Security National Bank of Everett under act Nov. 7,
1918.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
258 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 16.—National banks chartered during the year ended October 81, 1929—Continued
Char-terNo.
1330813366
Title
WISCONSIN
First National Bank of Soldiers Grove, Soldiers Grove _University Avenue National Bank of Madison, Madison __.
Total (2 banks)
Total United States (141 banks) _
Capital
$25,000100,000
125, 000
38,195,000
TABLE NO. 17.—National banks chartered which are conversions of State banksduring the year ended October 81, 1929
Char-terNo.
13264
13270
1328013290
132911329913307
13308
13311
1331713321
1332213326
1332913331
13333
133381334713348
13349
13354
13363
13374
Title and location
South Side National Bank of St. Louis___
The Vandeventer National Bank of St.Louis.
The First National Bank of McGeheeThe Citizens National Bank & Trust
Company of Everett.1
The Pampa National BankThe Citizens National Bank of Portland.The City National Bank and Trust Com-
pany of Niles, Michigan.The First National Bank of Soldiers
Grove.Peoples National Bank and Trust Com-
pany of Chicago.First National Bank in Bluff tonCentral National Bank and Trust Com-
pany of Des Moines.The Nebraska National Bank of Minden.The Roslyn National Bank & Trust
Company.The First National Bank in Cimarron...The First National Trust and Savings
Bank of Spokane.The Continental National Bank of Lin-
coln.San Jose National BankThe Girard National Bank _ _The Beverly Hills National Bank and
Trust Company.Union Planters National Bank & Trust
Company of Memphis.2
The National Bank of Commerce of As-toria.
Asbury Park National Bank and TrustCompany.
The Stanwood National Bank--
Total (23 banks)
State
M o . . .
M o -Ark . . .Wash.
TexasOreg..Mich_
111
IndIowa..
Nebr. .N. Y__
Kans..Wash.
Nebr..
Calif..KansCalif..
T e n n .
Oreg._
N . J . . .
Wash.
Date ofcharter
1928Dec. 7
1929Jan. 2
Feb. 11Mar. 7
Mar. 8Mar. 19Apr. 1
—do
Apr. 13
May 9May 15
—doMay 20
May 21May 25
June 1
June 12July 1July 2
July 9
July 23
Aug. 10
Sept. 19
Authorizedcapital
$200,000
250,000
100,000100,000
50,000200, 000150,000
25,000
1,000, 000
100,000250, 000
40,000100,000
25,000200, 000
200,000
500,00030, 000
150,000
3,500,000
100,000
300,000
50,000
7,620,000
Approxi-mate sur-plus and
undividedprofits
$146,207
24,308
26, 65825, 965
12, 239262, 639
73, 721
4,340
749,107
50,000346, 260
11,127205, 888
12, 52420, 000
256,451
52,46425, 34563, 311
5, 221, 623
28,124
462, 394
32,466
8,113,161
Approxi-mate assets
$2,963,194
1,0S0,428
716, 4911,452,181
1, 220, 2904, 735, 8141, 902, 333
212, 876
17,037,002
487, 5499,453, 656
461,9981, 832, 972
299, 697220, 000
5, 776,985
2, 069, 314340, 089
1, 261, 550
37, 789, 591
972, 637
5,185, 235
744, 939
98, 216, 821
1 Consolidated on Apr. 20,1929, with the Citizens Security National Bank of Everett under act Nov. 7,1918.
2 With 2 branches in Memphis.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 259TABLE NO. 18.—National banks, by States and geographical divisions, organized,
failed, and reported in voluntary liquidation during the year ended October 31,1929
State
MaineVermontMassachusettsRhode IslandConnecticut
Total New EnglandStates
New YorkNew JerseyPennsylvania __DelawareMaryland
Total Eastern States..
Virginia __West VirginiaNorth CarolinaSouth CarolinaGeorgiaFloridaAlabamaMississippiLouisianaTexasArkansasKentuckyTennessee
1 Includes one bank with capital of $25,000 and assets of $59,021 previously reported in voluntary liquida-
2 Includes one bank with capital of $100,000 and assets of $190,795 previously reported in voluntaryliquidation.
s Includes one bank with capital of $100,000 and assets of $220,360 previously reported in voluntary liqui-dation and one with capital of $50,000 and assets of $403,545 restored to solvency.
* Includes 2 banks with capital aggregating $110,000 and assets of $239,860 previously reported in volun-tary liquidation.
«Includes one bank with capital of $300,000 and assets of $357,386 previously repoited m voluntaryliquidation.
«Includes one bank with capital of $35,000 restored to solvency.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
260 KEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 19.—Number and classification of national banks chartered monthlyduring the year ended October 31, 1929
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 265TABLE NO. 20.—Principal items^ of resources and liabilities of national banks,
classified according to capital stock, December 31, 1928—Continued
CAPITAL STOCK OF $500,000 BUT LESS THAN $1,000,000—Continued
[In thousands of dollars]
Cities, States, and Territories
OTHER EESEKVE CITIES—COntd.
MilwaukeeMinneapolis. .._Cedar RapidsDes Moines ._DubuqueKansas City, MoSt. Joseph.-.St. Louis _LincolnOmahaKansas City, Kans...TopekaDenver..PuebloMuskogeeOklahoma CityTulsa. -Seattle.Spokane ._Portland _ __Los A.ngelesSan FranciscoOgden__ _Salt Lake City
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 22.—Profit on national bank circulation, based upon a deposit of $100,000 United States consols of 1930 and Panama Canal bonds,at the average net price, monthly, during the year ended October 81, 1929
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
272 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 25.—Number, capital stock, and circulation outstanding of nationalbanks issuing circulating notes, together with the number and capital stock ofnational banks not issuing circulating notes, June 29, 1929, by reserve cities andStates
[In thousands of dollars]
Cities
CENTRAL RESERVE CITIESNew York . .Chicago . . . :
Central reserve cities. .OTHER RESERVE CITIES
Boston -.AlbanyBrooklyn and BronxBuffaloPhiladelphiaPittsburgh _ _BaltimoreWashington _RichmondCharlotte . .AtlantaSavannah.JacksonvilleBirmingham. _New OrleansDallasEl PasoFort WorthGalveston ._ _ __ ._Houston-San Antonio _Waeo_Little Rock _LouisvilleMemphisNashville ...CincinnatiCleveland .ColumbusToledoIndianapolis. _ChicagoPeoriaDetroit- . . _.Grand RapidsMilwaukee _.MinneapolisSt. Paul-Cedar RapidsDes Moines _Dubuque.. _ _ ._ __Sioux CityKansas City, Mo. .St. JosephSt. Louis __ . . . _LincolnOmahaKansas City, Kans _._ ___ .TopekaWichita _Helena ._ -DenverPueblo--. - . . .MuskogeeOklahoma City __ _TulsaSeattle .Spokane. _Portland. _Los Angeles __OaklandSan Francisco.OgdenSalt Lake City
All other reserve citiesTotal all reserve cities.
June 29, 1929
Banks issuing circulation
Numberof banks
152
17
5262
1996
10153
3316233764
31453414
1941156222254351324
22221452342622
241
258
Capital
265, 0257, 500
272, 525
9, 8503, 5003, 700
55029, 30024, 8508,300
10, 075I, 0001,8006,400
4, 5004, 4502,800
13,1501, 3002, 7001, 4006,9003, 9501,650
5, 5001,0005,2258,3005,5004,500
5007, 6505,0002,5757,5001,000
13, 20012,9005, 5001,1001,700
7002,0503, 550
90013, 550
3003,100
950950
4501,050
600800
1,0005,450
11, 0002,0005, 700
37, 5002 200
76,000750
1,100
402, 425
674.950
Circula-tion out-standing
33,9266,198
40,124
3,6121,2381,199
5505,544
14, 5463, 5554,8911, 00Q1,4402,486
9414,3312,8005, 561
7992,5491, 3315,2943,7401,630
3,97250
4,3272,2393,6001,817
4963,8292,8751,8393,432
8924,2582,909
597998554397
1,072950338
2,634199
1,144800598
20064840074872
6164,6341, 9952,5104,0271,494
19 409743
1,023
154,372
194,496
Banks not issuingcirculation
Numberof banks
610
• 16
5
91
112121
1
12131
I
1
11
7
111
1
2
51534
14
4
16
1
44
2
103
119
Capital
15,40038, 250
53, 650
46, 500
3, 350200
8,4503,600
400700
3,000
4,000
3001,750
7502, 7502,000
400
600
500200
1, 900
5,000500200
350
1,250
4,500200
6,3001,2502,100
5002,400
4,250
1005,200
500
1,3006,500
j 1,666124, 750
178, 400
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 273
TABLE N O . 25.—Number, capital stock, and circulation outstanding of nationalbanks issuing circulating notes, together with the number and capital stock ofnational banks not issuing circulating notes, June 29, 1929, by reserve cities andSlates—Continued
New YorkNew JerseyPennsylvania ___.Delaware.. _Maryland
Total Eastern StatesVirginia..-West VirginiaNorth CarolinaSouth Carolina -GeorgiaFloridaAlabamaMississippiLouisianaTexasArkansasKentucky..Tennessee
Total Southern StatesOhioIndiana.-IllinoisMichiganWisconsinMinnesotaIowa _Missouri
Total Middle Western StatesNorth DakotaSouth DakotaNebraska ___KansasMontanaWyomingColoradoNew Mexico.Oklahoma
Total Western StatesWashington.Oregon.California. .-IdahoUtahNevada ---Arizona
Total Pacific States-Alaska (nonmember banks)The Territory of Hawaii (nonmember bank)Total (nonmember banks)
Total country banksTotal United States.. 302,632
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TABLE NO. 26.—National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 81, each year 1918 to 1929[For prior years see annual report 1920]
8
Year Ones Twos Fives Tens Twenties Fifties Onehundreds
NOTE 1.—First issue Dec. 21,1863; first redemption Apr. 5,1865. NOTE 2.—Gold notes included since 1915. N O T E 3.—Fractions and nonassorted notes not included.
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REPORT OP THE COMPTROLLER OF THE CURRENCY 275TABLE NO. 27.—National bank currency issued to banks monthly from November 1,
During the year ended Oct.31—Con.1902. __1903190419051906190719081909 _ _19101911191219131914191519161917 _ _19181919192019211922 _ _ _ _1923192419251926192719281929
TABLE NO. 30.—National-bank notes issued during each year 1914 to 1929, na-tional-bank notes of active, insolvent, and liquidated banks destroyed, total destruc-tions for each year, and percentage of destructions to issues
TABLE NO. 32.—Vault account of currency received and issued by currency bureauduring the year and the amount on hand October 31, 1929
OLD SERIES
National bank currency in vaults at the close of business Oct. 31, 1928 __ $191,484, 780National bank currency received from Bureau of Engraving and Printing during the year
ended Oct. 31, 1929 345, 788, 250
Total to be accounted for . 537,273,030Amount issued to banks during the year $411,696,200Amount withdrawn from vaults and canceled 106,325,530
Total withdrawn 518,021,730
Amount in vaults at close of business Oct. 31,1929 __ 19, 251,300
NEW SERIES OF 1929
National bank currency in vaults at the close of business June 20, 1929National bank currency received from Bureau of Engraving and Printing during the year
ended Oct. 31, 1929 506.859,960
Total to be accounted for 506,859,960Amount issued to banks during the year $105, 877, 265Amount withdrawn from vaults and canceled _
Total withdrawn. _ _ _ 105,877,265
Amount in vaults at close of business Oct. 31, 1929 400,982,695Add "Old series" 19,251,300
Total amount in vaults __ 420,233,995
TABLE NO. 33.—Vault account of currency received and destroyed during yearended October 81, 1929
Amount in vault of redemption division of currency bureau awaiting destruction at close ofbusiness Oct. 31, 1928 $4,876,790.00
Amount received during year ended Oct. 31, 1929 _._ _ 517,396,884.00
Total - 522,273,674.00Withdrawn and destroyed during year _ 518,182,884.00
Balance on hand in vault Oct. 31, 1929 . 4,090,790.00
NOTE .—Notes of gold banks not included in this table.
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278 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 34.—Amount of currency received for redemption, by months, fromJuly 1, 1928, to June 30, 1929, and counted into the cash of the National BankRedemption Agency
NOTE.—The difference of $22,266.18 between the totals shown by this table and Table No. 34 representsthe net adjustments for overs, shorts, and spurious issues found in remittances received.
The total amount of currency of all issues received by the National Bank Redemption Agency andcounted into cash from June 30, 1874, to June 30, 1929, exclusive of deductions for shortages and spuriousissues, is $18,067,828,375.69.
TABLE NO. 36.—Cost of redemption of national'bank notes during the year ended
June 30, 1929
Redeemed out of 5 per cent fund, unfit for use:Salaries . ___ _ _ _Printing, binding, and stationery._ _ __Contingent expensesExpress chargesInsurance _ _Postage
Total
Redeemed on retirement account:SalariesPrinting, binding, and stationeryContingent expenses . . . . _ . ._ _Express chargesInsurancePostage..
Total. __ _ _
Aggregate
Redeemed out of 5 per cent fund, unfit for use _Redeemed on retirement account
Total
Amount of expenses
Office TreasurerU.S .
(N. B, R. A.)
$255,840.884, 725. 313,838.13
99.9817, 403.1211,878. 24
293, 785. 66
13, 239. 78244. 54198. 62
5.17900.61614. 70
15, 203. 42
308,989. 08
Amountredeemed
$461, 898,160. 0023,903, 249. 50
485,801, 409. 50
Office Comp-troller ofCurrency
$48,967. 76685. 32442.46
18,004. 7681,694. 09
149, 794. 39
2, 534. 0835.4722.90
2, 592. 45
152, 386. 84
Rate per$1,000
$0.96034166. 74449571
5
Total
$304, 808. 645,410.634, 280. 59
99.9835, 407. 8893, 572. 33
443, 580. 05
15, 773. 86280. 01221. 52
5.17900.61614. 70
17, 795. 87
461, 375.92
Amount ofexpenses
$443, 580. 0517, 795. 87
461,375.92
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KEPORT OF THE COMPTROLLER OF THE CURRENCY 279TABLE NO. 37.—Classification of Federal reserve currency redemptions, the amount
redeemed, number of notes, cost of redemption per 1,000 notes, and amount assessedupon Federal reserve banks, year ended June 80, 1929
Federal reserve notes:Received from sources other than Federal reserve banks—
SalariesPrinting, binding, and stationery. _Contingent expenses _ _
Total-Received direct from Federal reserve banks and branches, can-
celed and cut-Salaries _Printing, binding, and stationery.Contingent expenses—
OfficeTreasurerU. S. (N.B. R. A.)
$1,295.6323.9319.44
1,339.00
OfficeComp-
troller ofCurrency
50,922. 09236. 54773.16
Total . . - . _ _| 51,931.79
Federal reserve bank notes:Received from all sources—
SalariesPrinting, binding, and stationery.Contingent expensesExpress chargesInsurancePostage
TotalTotal amounts assessed against Federal reserve issues..
195.163.602.93.08
12.9463.54
278. 25
53, 549. 04
$38. 27.04.35
38.66
Total
$1,295.6323.9319.44
1, 339. 00
50,922.09236.54773.16
51,931.79
233.433.643.28.08
12.9463.54
316.91
53, 587. 70
Federal reserve notes:Received for redemption from sources other
than Federal reserve banks and branches-Received direct from Federal reserve banks
and branches, canceled and cutFederal reserve bank notes: Received from all
sources
Total
Amount indollars
$19,713,815
1, 262,953,400
443,487
Number ofnotes
1,651,960
133, 248,913
248, 830
1, 283,110, 702 135,149, 703 . 39650621
Rate per1,000 notes Assessment
$0. 81055485
.38973518
1.27360045
$1, 339. 00
51,931. 79
316.91
53, 587. 70
79003°—30
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280 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 38.—Taxes assessed on national-bank circulation, years ended June 80,186/j. to 1929; cost of redemption, 1874 to 1929; and assessments for cost of plates.etc., 1883 to 1929
JTax collected on additional circulation under act May 30, 1908.2Average cost per $1,000 for national-bank notes redeemed in 1924, $0.96; in 1925, $0.83; in 1926, $0.94;
in 1927, $0.93; in 1928, $0.86; and in 1929, $0.95.
Reduced-size notes, series of 1929:Assessment for cost of logotypes, new banks . . _ $3,930.00Assessment for changing signatures on logotypes, etc 54.00
Total -_ 3,984.00
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EEPOKT OF THE COMPTROLLER OF THE CURRENCY 281
TABLE NO. 39.—Federal Reserve notes outstanding according to weekly statements{amount issued by Federal reserve agents to Federal reserve banks, less "unfit"notes redeemed), and collateral security therefor, from November 7, 1928, to Octo-ber SO, 1929
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TABLE NO. 40.—Federal reserve notes, segregated by series, printed, shipped, and canceled, issued to banks, retired, and destroyed sinceorganization of the banks, with the balance in vaults and amount outstanding October 81, 1929
VAULT BALANCE OCTOBER 31, 1929, 1914-1918 SERIES
Total printed . .Total shipped and canceled
Total on hand
Fives
$5,370,100,0005, 321, 360, 000
48, 740, 000
Tens
$5,978,520, 0005, 974, 400, 000
4,120, 000
Twenties
$6,092, 240, 0006,032, 000,000
60,240, 000
Fifties
$1,283,800,0001, 245,800,000
38,000, 000
One hundreds
$884,400, 000856,800, 000
27, 600, 000
Five hun-dreds
$173,000,000132, 200, 000
40, 800, 000
One thou-sands
$333, 600,000274, 800, 000
58,800,000
Five thou-sands
$108,000,00076, 000, 000
32, 000,000
Ten thou-sands
$184,000,000184,000, 000
Total
$20,407.660,00020,097, 360,000
310, 300,000
VAULT BALANCE OCTOBER 31, 1929, 1928 SERIES
Total printed.Total shipped and canceled
Total on hand
$852, 540, 000443, 660, 000
408,880, 000
$1, 024, 680, 000610, 200, 000
414,480, 000
$1,038, 720, 000556, 000, 000
482, 720, 000
$236,400,000114,400,000
122, 000,000
$33, 600, 00030,000, 000
3,600,000
$3,185,940, 0001,754,260,000
1, 431, 680,000
Total printedTotal shipped and canceled
Total on hand..
$6, 222, 640, 0005, 765, 020, 000
457, 620, 000
COMBINED
$7, 003, 200, 0006, 584, 600, 000
418, 600, 000
VAULT BALANCE OCTOBER 31, 1929, BOTH SERIES
$7,130, 960, 0006, 588, 000, 000
542, 960, 000
$1, 520, 200, 0001, 360, 200, 000
160,000,000
$918,000, 000886, 800,000
31, 200, 000
$173, 000, 000132, 200, 000
40,800, 000
$333, 600, 000274, 800, 000
58,800, 000
$108,000, 00076, 000, 000
32, 000, 000
$184, 000, 000184, 000, 000
$23, 593, 600,00021,851, 620, 000
1, 741, 980,000
Total issuedTotal retired _
Total outstanding
ISSUED, R E T I R E D , AND OUTSTANDING
$6, 026,487, 2505, 802,124, 225
224, 363, 025
$6, 962,927, 0406, 619,656, 230
343, 270,810
$7,083,453,0406, 628,049,960
455, 403, 080
$1,450, 610,0501, 309, 845, 300
140, 764,750
OCTOBER 31
$1,071,862,800910,708,900
161,153,900
, 1929, 1914-1918 SERIES
$160, 062,500124,570, 000
35, 492, 500
$397, 940,000324,725, 000
73, 215, 000
$47,975, 00043, 050, 000
4,925, 000
$90,600, 00081, 660, 000
8,940, 000
$23,291,917, 68021, 844,389, 615
1,447, 528,065
ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1929, 1928 SERIES
Total issuedTotal retired .
Total outstanding
$242, 945, 0602,873,500
240, 071,560
$389, 350.1202,496; 000
386,854,120
$250,900,2402, 688,500
248, 211, 740
$31,580,00037,000
31, 543,000
$8,950, 000
8,950,000
$923, 725,4208,095, 000
915, 630,420
tooofcO
o
o•3
oS
o
HWO
a0
3o
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COMBINED—ISSUED, BETIRED, AND OUTSTANDING OCTOBER 31, 1929, BOTH SERIES
MUTILATED FEDERAL RESERVE NOTES, BY DENOMINATIONS, RECEIVED AND DESTROYED SINCE ORGANIZATION OF BANKS AND ON HANDIN VAULT OCTOBER 31, 1929, 1914-1918 SERIES
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TABLE NO. 40.—Federal reserve notes, segregated by series, printed, shipped, and canceled, issued to banks, retired, and destroyed sinceorganization of the banks, with the balance in vaults and amount outstanding October 31, 1929—Continued
COMBINED MUTILATED FEDERAL RESERVE NOTES, BY DENOMINATIONS, RECEIVED AND DESTROYED SINCE ORGANIZATION OF BANKSAND ON HAND IN VAULT OCTOBER 31, 1929, BOTH SERIES
Total receivedTotal destroyed
Balance on hand.
Fives
$4, 982, 649, 9754, 953, 246, 725
29, 403, 250
Tens
$5,599,299,5905, 570, 439,140
28, 860, 450
Twenties
$5, 489, 905,8205, 468,740, 420
21,165, 400
Fifties
$1, 093, 090,1501, 089, 880,950
3, 209, 200
One hundreds
$677,544, 200675, 355, 800
2,188, 400
Five hun-dreds
$82,368, 00081, 934, 500
433, 500
One thou-sands
$188, 791, 000187,625, 000
1,166,00Q
Five thou-sands
$46.675,00046, 675, 000
Ten thou-sands
$143,310,000143, 310, 000
Total
$18, 303, 633, 73518, 217, 207, 535
86, 426, 200
NOTE.—During the year, badly mutilated, burned, and fractional parts of Federal reserve notes amounting to $20,425—old series, $20,170; new series, $255—have been identified,valued, and the bank of issue determined.
TABLE NO. 41.—Aggregate amount of Federal reserve bank notes printed, issued, canceled, and redeemed, by denominations, since the inaugu-ration of the Federal reserve system, and amount on hand and outstanding October 31, 1929
VAULT BALANCE OCTOBER 31, 1929
Total printedTotal issued and canceled
Ones
$478,892,000478,892,000
Twos
$136,232, 000136,232,000
Fives
$132, 500, 000132, 500, 000
Tens
$24,040, 00024,040, 000
Twenties
$14, 080,00014, 080, 000
Fifties
$2,600,0002,600,000
Total
$788,344, 000788,344, 000
ISSUED, REDEEMED, AND OUTSTANDING OCTOBER 31, 1929
Total issued _ _Total redeemed
Total outstanding. __ _.
$478, 892,000476,817,066
2, 074, 934
$135,192, 000134,552, 208
639, 792
$121, 460, 000120, 971, 410
488,590
$16, 440, 00016, 296,995
143, 005
$9, 760, 0009, 563, 470
196, 530
$200, 000184, 950
15,050
$761,944, 000758,386,099
3, 557,901
to9?
I
a
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TABLE NO, 42.—Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates for years ended June 80. 1915 to 1929
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TABLE NO. 43.—National banks in charge of receivers during year ended October 31, 1929', capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of theUnited States to redeem circulation, and total deposits at date of suspension
to00
Name and location of bank
Organization
Char-terNo.
Date Capital
Total divi-dends paid
during exist-ence as anationalbanking
association
Failures
Capital Receiverappointed
Appar-ent
causeof
failure
Lawfulmoney
deposited
Circulationoutstanding
at date offailure
Totaldeposits atdate of sus-
pension
O
o
i3
Farmers & Drovers National Bank, Waynes-burg, Pa
First National Bank, Billings, MontFirst National Bank, Sutton, W. Va. _.First National Bank, Uniontown, Pa_First National Bank, Eureka, S. DakFirst National Bank, Hearne, Tex__ __First National Bank, Gridley, Calif. _First National Bank of Ranger, TexCorn Belt National Bank of Scotland, S. Dak.First National Bank of Arabia, IndFirst National Bank of Bridgeport, NebrBannock National Bank of Pocatello, Idaho-First National Bank, Vale, OregStillwater Valley National Bank, Absarokee,
MontNational City Bank, Salt Lake City, Utah—State National Bank, Ardmore, OklaCorydon National Bank, Corydou, IndFirst National Bank, Oak Grove, La.__First National Bank, Ingomar, MontAmerican National Bank, Billings, Mont jMerchants National Bank, Wimbledon, N.
DakFirst National Bank, Mountainair, N. Mex._)Commercial National Bank, Great Falls, |
MontSterling National Bank, Sterling, ColoPayette National Bank, Payette, IdahoCitizens National Bank.. Laurel, MontFirst National Bank, Broadview, MontCommercial National Bank, Wilmington,
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First National Bank, Wessington Springs,S. Dak
First National Bank, Harlowton, MontFirst National Bank Eoundup, MontFirst National Bank, Gregory, S. DakLlano National Bank, Llano, TexFirst National Bank, Hock River, WyoFirst National Bank, Joseph, OregPeoples National Bank, Salisbury, N. OFirst National Bank, Sapulpa, OklaHoward National Bank, Howard, S. Dak___First National Bank, Wells, MinnFirst National Bank, Mitchell, S. DakCavalier County National Bank, Langdon,
N. DakAmerican National Bank, Three Forks,
Mont .Lehigh National Bank, Lehigh, OklaCity National Bank, Coalgate, OklaFirst National Bank, Grey Eagle, MinnFirst National Bank, Fairview, MontUnion National Bank, Beloit, KansTexas County National Bank, Guyrnon,
OklaNational Bank of Barnesville, Ohio ,Citizens National Bank, Roswell, N. Mex___First National Bank, Lancaster, MinnFirst National Bank, Turtle Lake, N. Dak._.First National Bank, Forsyth, MontCondon National Bank, Condon, OregFirst National Bank, Moore, MontMerchants National Bank, Man dan, N. Dak-First National Bank, Webster, S. DakSioux Falls National Bank, Sioux Falls, S.
DakFirst National Bank, Beach, N. DakNational Bank of Carlsbad, N. MexDakota National Bank, Dickinson, N. Dak_.First National Bank, St. John, WashFirst National Bank, Warroad, MinnFirst National Bank, Brookings, S. DakFirst National Bank, Ronan, MontFirst National Bank, Clarkston, Wash _First National Bank, Carthage, S. DakFirst National Bank, Onida, S. DakCommercial National Bank, Miles City,
Mont ,_Nowata National Bank, Nowata, Okla „First National Bank, Castlewood, S. Dak.._First National Bank, Sidney, MontStockmens National Bank, Fort Benton,Mont _ |
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TABLE NO. 43.—National banks in charge of receivers during year ended October SI, 1929\ capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of theUnited States to redeem circulation, and total deposits at date of suspension—Continued
to00oo
Name and location of bank
Organization
Char-terNo.
Date Capital
Total divi-dends paid
during exist-ence as anationalbanking
association
Failures
Capital Receiverappointed
Appar-ent
causeof
failure
Lawfulmoney
deposited
Circulationoutstanding
at date offailure
Totaldeposits atdate of sus-
pension
First National Bank, Fort Sumner, N. Mex.Wells National Bank, Wells, Minn . . „ .First National Bank, Gering, NebrWestern National Bank, Mitchell, S. Dak_._.First National Bank, Coalgate, OklaFirst National Bank, Mclntosh, S. DakFirst National Bank, St. Anthony, IdahoFirst National Bank, Huron, S. DakFarmers & Merchants National Bank, Fair-
bury, Nebr _., .First National Bank, Golva, N . DakFirst National Bank, Lingle, WyoTorf ington National Bank, Torrington, Wyo.First National Bank, Poison. MontMerchants National Bank, Crookston,
Minn..First National Bank, Lake Preston, S. Dak__.First National Bank, Plenty wood, MontFirst National Bank, Sterling, ColoFirst National Bank of Fergus County, Lew-
istown, MontFirst National Bank, Alexander , N . DakFirst National Bank, Pilger, Nebr__.National Bank of Commerce, Shawnee,
Okla __ _..Citizens National Bank, Hankinson, N . Dak.First National Bank, Carlsbad, N . MexFarmers National Bank, Burlington, Kans__.Drovers National Bank, East St. Louis, 111...First National Bank, Sehuyler, NebrFirst National Bank, Morristown, S. DakCity National Bank of Huron, Huron,
S. DakCitizens National Bank, Julesburg, ColoFirst National Bank, Basin, Wyo
Weiser National Bank, Weiser, Idaho.First National Bank, Cheyenne, WyoFirst National Bank, Bridgewater, S. Dak___First National Bank, Harrington, WashFirst National Bank, Eexburg, IdahoFirst National Bank, Putnam, ConnFirst National Bank, Beaver Creek, MinnFirst National Bank, Ozark, AlaFirst National Bank, Ulen, Minn._First National Bank, Alma, WisMerchants National Bank, Grinnell, Iowa—-First National Bank, Algona, IowaFirst National Bank, Boise City, OklaFirst National Bank, Allendale, S. G __First National Bank, Barnwell, S. CFirst National Bank, Center, TexFarmers National Bank, Dodge Center,
MinnFirst National Bank, Torrington, WyoParkesburg National Bank, Parkesburg, Pa . .First National Bank, Oldham, S. DakFirst National Bank, Spring Hope, N. CStockmans National Bank, Columbus, Mont-First National Bank, Alexandria, MinnFirst National Bank, Townsend, MontFirst National Bank, Rigby, IdahoFirst National Bank, Sylvester, GaFirst National Bank, Salem, S. DakJefferson County National Bank, Rigby,
Idaho "_....Neoga National Bank, Neoga, 111First National Bank, Excelsior Springs, M o . .Logan County National Bank, Sterling, Colo_First National Bank, Buena Vista, GaFirst National Bank, Hampton, GaPerry National Bank, Perry, IowaFarmers National Bank, Hempstead, Tex_._National Bank of Abbeville, S. CCommercial National Bank, Charleston, S. C.First National Bank, Quincy, FlaNational Bank of Commerce, Pierre, S. Dak-Black Hawk National Bank, Waterloo, Iowa_First National Bank, Atwater, MinnFirst National Bank, Renville, MinnFirst National Bank, Idabel, OklaFirst National Bank, Pleasantville, IowaFirst National Bank, Wapanucka, OklaFirst National Bank, Matoaka, W. Va
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TABLE NO. 43.—National banks in charge of receivers during year ended October SI, 1929, capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of theUnited States to redeem circulation, and total deposits at date of suspension—Continued
Name and location of bank
Organization
Char-terNo.
Date Capital
Total divi-dends paid
during exist-ence as anationalbanking
association
Failures
Capital Receiverappointed
Appar-ent
causeof
failure
Lawfulmoney
deposited
Circulationoutstanding
at date offailure
Totaldeposits atdate of sus-
pension
O
o
o
City National Bank, Clarksville, TexFirst National Bank, Montpelier, IdahoFirst National Bank, Lemmon, S. DakCommercial National Bank, Greenville, Tex.Georgia National Bank, Athens, GaOsceola National Bank, Osceola, IowaFirst National Bank, Wimbledon, N. Dak__First National Bank, Hedrick, IowaFirst National Bank, Jasper, MinnFirst National Bank of Las Vegas, East Las
Vegas, N. MexFirst National Bank, Conyers, GaHugo National Bank, Hugo, OklaFirst National Bank, Carnegie, PaBurgettstown National Bank, Burgettstown,
PaFirst National Bank, Selma, N. CFirst National Bank, Madison, S. DakFarmers National Bank, Louisburg, N. CFirst National Bank, Florence, S. CFirst National Bank, Clear Lake, S. Dak____First National Bank, Crandon, WisCity National Bank, Hugo, OklaFirst National Bank, Springer, N. MexMerchants National Bank, Detroit Lakes,
MinnFirst National Bank, St. Cloud, MinnFirst National Bank, Abercrombie, N. Dak_First National Bank, Wausa, NebrFirst National Bank, Redwood Falls, Minn.First National Bank, Lumberton, N. CFirst National Bank, Lake Park, MinnGlobe National Bank, Denver, ColoFirst National Bank, Warren, MinnFirst National Bank, Winifred, Mont
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First National Bank, Hallock, Minn 'First National Bank, Buffalo, MinnManilla National Bank, Manilla, IowaLoveland National Bank, Loveland, Colo.__Winner National Bank, Winner, S. DakMuskogee Security National Bank, Musko-
gee, OklaFirst National Bank, Forest City, IowaDavenport National Bank, Davenport, Wash-First National Bank, Pasco, WashFirst National Bank, Howard, S. DakGregory National Bank, Gregory, S. Dak___First National Bank, Sac City, IowaFirst National Bank, Brooklyn, IowaWarren National Bank, Warren, MinnFirst National Bank, Covington, GaFirst National Bank, Delano, MinnFirst National Bank, Creston, IowaFarmers & Merchants National Bank, Can-
non Falls, Minn !Farmers National Bank, Lake Preston, S. I
Dak {First National Bank, Jefferson, Iowa IDrovers National Bank, Denver, ColoFirst National Bank, Rifle, ColoHome National Bank, Cleburne, TexSecurity National Bank, Mason City, lowa-Glasgow National Bank, Glasgow, MontNational Bank of Luverne, MinnFirst National Bank, Greensboro, GaBroadway National Bank, Denver, ColoFirst National Bank, Tama, IowaFirst National Bank, Waukon, IowaFirst National Bank of Gilmore, Gilmore
City, Iowa.First National Bank, Pocahontas, IowaCando National Bank, Cando, N. DakFirst National Bank, Ada, MinnNational Bank of Wessington Springs, S.
Dak.Farmers National Bank, La Moure, N. Dak__First National Bank, Estherville, IowaStockmans National Bank, Brush, ColoLiberty National Bank of South Carolina at j
Columbia, S. C.First National Bank, Kiefer, Okla_____ _First National Bank, Marion, N. Dak..Spirit Lake National Bank, Spirit Lake, Iowa-First National Bank, Deep River, IowaFirst National Bank, Blue Mound, 111First National Bank, Intake, MontFirst National Bank, Frankfort, S. Dak
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TABLE NO. 43.—-National banks in charge of receivers during year ended October 81,19®9> capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, circulation outstanding at date of failute, lawful money deposited with Treasurer of theUnited States to redeem circulation, and total deposits at date of suspension—Continued to
3
ogaaO
o
Name and location of bank
Moline National Bank, Moline, KansFirst National Bank, Fulton, Mo _First National Bank, Shenandoah, IowaFirst National Bank, Cambridge, IowaFirst National Bank, Oktaha, Okla___Citizens National Bank, Wayne, NebrFirst National Bank, Noblesville, IndFirst National Bank, Jonesboro, ArkFirst National Bank, Hayden, Colo.-..First National Bank, Barnsdall, OklaPalm Beach National Bank, Palm Beach,
Fla.First National Bank, Benson, Minn_De Smet National Bank, De Smet, S. Dak.First National Bank, Milford, IowaFirst National Bank, Dinuba, CalifFirst National Bank, Glenwood, MinnWhitbeck National Bank, Chamberlain, S.
Dak.First National Bank, Cumberland, Iowa.,-Guthrie County National Bank, Panora,
Iowa.First National Bank, Royalton, MinnFirst National Bank, Pepin, Wis._>First National Bank, Woonsocket, S. D a k -Peoples National Bank, Bennettsville, Si CFirst National Bank, Eldorado, 111First National Bank, Adrian, MinnFirst National Bank, Colman, S. DakFirst National Bank, Waubay, S. DakFirst National Bank, Akron, Colo...Oakes National Bank, Oakes, N. DakNational Farmers Bank, Owatonna, Minn_Anamoose National Bank, Anamoose, N.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Farmers National Bank in Lidgerwood, N . 12743Dak .
Farmers & Merchan ts National Bank, Mer- 10352ced, Calif.
Nat ional Security Bank , Fairfax, S. C 12668First Nat ional Bank , Lake Norden, S. Dak . 10714First Nat ional Bank , Fulda , M i n n 6054First Nat ional Bank , Bos well, Okla 7651National B a n k of Frankl in , Frankl in , T e n n . 1834Farmers & Merchan ts Nat ional Bank , Lake
City, S. C . . 10681Ci ty National Bank, Bismarck, N . D a k 9622American National Bank, Atoka, Okla 8994England National Bank, Lit t le Rock, Ark__ 9037First National Bank, Broken Bow, Okla 10424First National Bank, Hawor th , Okla 10500First National Bank, Clearbrook, M i n n 11392First National Bank, Toledo, Iowa 6432First National Bank, Gonvick, Minn___ j 10830First National Bank, Kingsburg, Calif 8409First National Bank, Brandon, M i n n 10862First National Bank, Mi lbank, S. Dak 6473First National Bank, Armstrong, Iowa 5442Citizens National Bank , Spencer, Iowa 6941First National Bank, Wilder, Idaho 10909First National Bank, Detroi t Lakes, Minn._ 3426First National Bank, Terril , I owa . _, 10238Citizens National Bank, Pe t ty , Tex 10847Farmers National Bank , Manor , Tex 7146Clarinda National Bank , Clarinda, Iowa 3112First Nat ional Bank, M a r k e d Tree, Ark 11122First Nat ional Bank, St . James, M i n n 4859First National Bank, Leeds, N . D a k 6312Farmers Nat ional B a n k , Brookings, S. Dak-_ 6462First Nat ional Bank, Alta, Iowa_ 7126First Nat ional Bank, E lk ton , S. D a k 6368Planters Nat ional Bank , Honey Grove, Tex . . 4112First National Bank, New H a m p t o n , I o w a . . 2588First National Bank, Hannaford, N . Dak__ . 7727First Nati onal B ank, M alvern, Iowa 2247First National Bank, Stanley, N . D a k 9472First National Bank, Haleyville, Ala 11613National Bank of Oakesdale, Oakesdale,
Wash 9150Farmers Nat ional B a n k , Newpor t , Ark 108G7First Nat ional Bank, P la t t smouth , Nebr 1914First National Bank, Adair, Iowa 8699First National Bank, Universi ty Place, Nebr . 7737Story City National Bank, Story City, Iowa. 10222Citizens National Bank, Ortonville, Minn . . . . 6747First National Bank, Collinsville, Okla. ._. 6965Citizens National Bank, Royal, Iowa 10395First National Bank, Carlyle, M o n t 10934
M a y 11,1925
Jan. 4,1913
Mar . 23,1925Mar . 3,1915Dec. 14,1901Feb. 16,1905May 25,1871
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 43.—National banks in charge of receivers during year ended October 81, 1929, capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, circulation outstanding at dale of failure, lawful money deposited with Treasurer of theUnited States to redeem circulation, and total deposits at date of suspension—Continued
Monticello National Bank, Montieello, Ind_.First National Bank, Cardwell, Mo _.First National Bank, Nevada, IowaFirst National Bank, Renwick, IowaFirst National Bank, Moulton, Iowa .First National Bank, Delano, CalifNational Bank of Jersey ville, Jersey ville, IU._First National Bank, Argyle, Minn._ . . .First National Bank, Boyceville, WisCitizens National Bank, Commerce, Tex.. .Citizens National Bank, Lone Oak, TexFirst National Bank, Beardsley, MinnFarmers National Bank, Red Lake Falls,
Minn _ _ _ .First National Bank, Biggsvilie, 111First National Bank, Edgeley, N. DakFarmers National Bank of Lidgerwood,
N. DakFirst National Bank, Britt, Iowa . .First National Bank, Montevideo, MinnPeoples First National Bank, Olivia, Minn..First National Bank, Lincoln, ArkFirst National Bank, Clinton, MinnCitizens National Bank, Albert Lea, Minn .First National Bank, Marengo, IowaFirst National Bank, Allegan, MichFirst National Bank, Rolette, N. Dak....Farmers & Merchants National Bank,
Mount Morris, PaFirst National Bank, Rush City, MinnCentral National Bank, Marietta, OhioAmerican National Bank, Stigler, Okla—First National Bank, Belle Plaine, IowaFirst National Bank, Dunbar, Pa . . .Exchange National Bank, Leon, IowaFirst National Bank, Hartley, Iowa
Organization
Char-terNo.
617211919255579885319919549525907
1112812778127607438
983730037914
8230502068609063
1182571616128248418297866
69836954521274322012757654894881
Date
Mar . 10,1902Jan . 15,1921Aug. 3,1881Nov. 24,1905Apr. 5,1900July 1,1908Mar . 31,1894June 18,1901Dec. 8,1917June 10,1925M a y 18,1925July 7,1904
July 19,1910Apr. 10,1883Aug. 29,1905
Apr. 30,1906Aug. 13,1895M a y 25,1903Feb. 25,1908July 27,1920Feb. 13,1904Jan. 22,1902May 25,1880May 11,1871July 24,1905
Sept. 22,1903Aug. 1,1903M a y 29,1899Sept. 14,1904M a y 31,1872Jan. 20,1905June 20,1900Feb. 22,1893
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
First National Bank, Norway, IowaUnited States National Bank, Dinuba, Calif-First National Bank, Lepanto, ArkProvident National Bank, Waco, TexFirst National Bank of Benson,, Hollsopple,
PaFirst National Bank, Sheldon, IowaAmerican National Bank, Green City, Mo_.First National Bank, Columbia City, Ind.__First National Bank, Fairfax, S. CFirst National Bank, Lake Worth, FlaFirst National Bank, Lake Mills, IowaFirst National Bank, Lineville, IowaFirst National Bank, Bend, OregNew First National Bank in Lamberton,
MinnFirst National Bank, Dubois, IdahoFirst National Bank, Biwabik, MinnCity National Bank in Kearney, NebrLaurel National Bank, Laurel, NebrFarmers & Merchants National Bank,
Aleester, S. DakFirst National Bank, Grafton, N. DakFirst National Bank, Chowchilla, CalifMerchants National Bank, Greene, IowaFirst National Bank, Kennebec, S. DakFirst National Bank, Medaryville, IndFirst National Bank, Spencer, IowaFirst National Bank, Farmersville, 111First National Bank, Lamberton, MinnPeoples National Bank, Waukon, IowaFirst National Bank, East Grand Forks,
MinnFayette City National Bank, Fayette City,
PaFirst National B ank, Webster, PaNational Bank of Fayetteville, Fayetteville,
N. CFirst National Bank, Bishop, CalifCitizens National Bank, Waynesburg, PaFirst National Bank, Sheridan, IndFirst National Bank, Spirit Lake, IowaFirst National Bank, In wood, IowaFirst National Bank, Tabor, IowaFarmers National Bank, Odell, 111Central National Bank, Kearney, Nebr__—_City National Bank of Kearney, Kearney,
NebrFirst National Bank, Mallard, IowaFirst National Bank, Bancroft, Iowa ,First National Bank in Sallisaw, Okla_ ,First National Bank, Muldrow, Okla.National Bank of La Grange, La Grange, IncL
Aug. 12,1927Aug. 15,1927Aug. 17,1927Aug. 18,1927Aug. 25,1927Sept. 6,1927Sept. 14,1927Sept. 21,1927Sept. 30,1927
OctOct.Oct
do __. 3? 1927. 20,1927. 24,1927do__
CACCD
ACC
ACDC
ACC
AC
CC
ABAC
CABACACA
ACCDE
ABA
ACADD
ACDDD
DCA
ACA
BC
50,000.00
43, 597.50
24,300.00
25,000.00
49,600.00
6,100.00
22,400. 0040,000. 00
48,800.0024,400.00
25,000.0024, 500.00
50,000.00
24,400.0099,000.0043, 597. 5094. 200.00
32, 300.0049,497. 5024,300.0012,500.00
25,000.0024,700.0090,800.0040,000.00
49,600.00
24,700. 006,100. 0024,300. 0024,990.00
123,200.00
37,497.50
69,400.0024,100.00
49,000. 00
275,000. 0022,400. 0040,000.0025,000.00
50, 000. 0048,800. 0024,400. 0049,300.00
170, 735443, 221108, 211
196, 240777, 551239,124
1,010,867
1,358,878358,762205,239
1,264,073
203,614121,571317,100
1,868,476524,225
396,354866,808215, 524232,15576, 69263,445
855, 37594, 295
1, 781, 000529, 744
481, 789
1,781,014283, 727
1,909,559763,199
4,080,072
182,242
220,000
180, 561180,859394,568161, 965530,086
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 43.—National banks in charge of receivers during year ended October 31, 1929, capital at date of organization and at date of failure,cav-ies of failure, dividends paid while solvent, circulation outstanding at date of failure, lavrful money deposited with Treasurer of theUnited Stages io redeem circulation, and total deposits at date of suspension—Continued
First National Bank, Swea City, IowaFirst National Bank, Milburn, OklaFirst National Bank, Havelock, IowaNational State Bank, Stockton, KansNational Bank of West Palm Beach, West
Palm TiMoh, Fla,First National Bank, New Cumberland,
W. VaFirst National Bank, Rofl, OklaFirst National Bank, Checotah, OklaFirst National Bank, Hope, N. DakFirst National Bank, Manning, S. CNational Bank of Bowman, Bowman, S. C_.First National Bank, Abingdon, 111First National Bank, Wynot, NebrAmerican National Bank, Sallisaw, Okla..New Georgia National Bank, Albany, Ga.__First National Bank, Minnewaukan, N. Dak-First National Bank, Greenville, TexFirst National Bank, Mullens, W. VaFirst National Bank, Hanna, Okla _.First National Bank, Lisbon, N. Dak _First National Bank, Delta, Utah___ _First National Bank, Lorena, Tex__- __First National Bank, Plainville, KansFirst National Bank, Laurel, NebrChase County National Bank, Cottonwood
Falls, KansFirst National Bank, Derby, IowaLaurens National Bank, Laurons, S. CFirst National Bank, La Porte City, Iowa.__Citizens National Bank, Shelbyville, IIIAstoria National Bank, Astoria, Oreg_-First National Bank, Balaton, MinnFarmers National Bank, Phillipsburg, Kans.First National Bank, Galva, Iowa
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
First National Bank, Ashton, IdahoNew First National Bank in Springfield, Mo.First National Bank, Greenfield, Iowa..First National Bank, Carrington, N . Dak._.First National Bank, Osborne, KansFirst National Bank, Toronto, S. DakFirst National Bank, St. George, S. C_First National Bank, Rolfe, IowaCommercial National Bank, Statesville, N.CFirst National Bank, Bristow, OklaFirst National Bank, Stewardson, 111First National Bank, Avoca, MinnFirst National Bank, Rice, MinnAmerican National Bank, Sarasota, FlaFirst Citizens National Bank, Mount Ster-
ling, OhioFirst National Bank, Moweaqua, 111First National Bank, Marshalltown, Iowa...First National Bank, Arcadia, IndPeoples National Bank, Independence, Iowa.First National Bank, Independence, Iowa...First National Bank, Calexico, CalifFirst National Bank, Denton, TexFirst National Bank, Plain view, NebrLake County National Bank, Madison, S.
DakSecurity National Bank, Fargo, N . DakCitizens National Bank, Woonsocket, K, I_.First National Bank, Dublin, GaFirst National Bank, Aledo, 111First National Bank, Wesley, Iowa__-Carolina National Bank, Darlington, S. C__.First National Bank, Farmland, IndLamar National Bank, Lamar, S. CHartington National Bank, Hartington,
Nebr.._First National Bank, Cheraw, S. CFirst National Bank, Dunn, N . CFarmers National Bank, Wakefield, Nebr. . .Fourth National Bank, Macon, GaFirst National Bank, Eichland Center, Wis_.First National Bank, Garner, IowaFirst National Bank, Warren, Ind..First National Bank, Covington, IndCass County National Bank, Casselton,
N. DakFirst National Bank, Benson, N. CPeoples National Bank, Middletown, DeL_.First National Bank, Fort Lauderdale, Fla_.First National Bank, Mena, ArkFirst National Bank, Lewisville, Ohio
I First & Moorhead National Bank, Moor-1 head, Minn
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 43.—National banks in charge of receivers during year ended October 31, 1929, capital at date of organization and at date of failure,causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of theUnited States to redeem circulation, and total deposits at date of suspension—Continued
Exchange National Bank, Denton, TexFirst National Bank, Frisco, TexFirst National Bank, Kingsbury, TexFirst National Bank, Coleridge, Nebr__Exchange National Bank, Spokane, Wash__First Exchange National Bank, Coeur
d'Alene, Idaho _First National Bank, Wagener, S. CMinneapolis National Bank, Minneapolis,
Kans. _ _ _ _ _First National Bank, Melvin, IowaFirst National Bank, Manchester, IowaCitizens National Bank, Hope, Ind . _First National Bank, Avon Park, FlaFirst National Bank, Punta Gorda, FlaFirst National Bank, Bixby, OklaFirst National Bank, Brunson, S. C _ . . . ._Carlton National Bank, Wauchula, Fla_ __First National Bank, Rockford, IowaNational B ank of Ains worth, NebrFirst National Bank, Erskine, MinnNational Bank of Larimore, N. DakFirst National Bank, Denton, Mont _____First National Bank, West Alexandria, Ohio.First National Bank, Sandersville, GaNational Bank of Emmetsburg, IowaFirst National Bank, Waverly, VaFirst National Bank, Sanborn, N. Dak___ __Peoples National Bank, Adena, OhioReed City National Bank, Reed City, Mich.First National Bank, Ruthven, IowaFirst National Bank, Sebring, FlaFirst National Bank, Lakeland, FlaFirst National Bank, Auburndale, Fla_National Exchange Bank, St. Paul, Minn...First National Bank, Shinnston, W. Va
Organization
Char-terNo.
29496346
1026697964044
712010485
3731561642215726
108261051210467108321069130538992
111736286
10819117337934
130591091484486016
124745541
120909811
12983109409453
Date
May 7,1883July 2,1902Aug. 15,1912May 18,1910May 4,1889
First National Bank, Anefca, N. DakRosedale National Bank, Rosedale, MissFirst INational Bank in Langdon, N. DakFirst National Bank, Mayville, N. DakPolk County National Bank in Bartow, Fla_..East Alabama National Bank, Eufaula, Ala__National Bank of Newberry, S. CSouth Pasadena National Bank, South Pasa-
dena, CalifFirst National Bank, McHenry, N. DakFirst National Bank, De Land, FlaFirst National Bank, Sanford, FlaFirst National Bank, Dahlgren, 111First National Bank, St. Augustine, FlaFirst National Bank, Winter Garden, Fla___Miners National Bank, Blossburg, PaFirst National Bank, Drayton, N. DakFirst National Bank, Maquon, 111Henry National Bank, Abbeville, AlaFirst National Bank, Moultrie, QaFirst National Bank, Montezuma, IowaFirst National Bank, Eldorado Springs, Mo.First National Bank, Delta, ColoFarmers National Bank, Red Oak, IowaTaylorville National Bank, Taylorville, I1L_First National Bank, Taylorville, 111First National Bank, New Bern, N. C
A—Incompetent management.B—Dishonesty.C—Local financial depression from unforeseen agricultural or industrial disaster.D—Receiver appointed to levy and collect stock assessment covering deficiency in value o fassets sold.E—Temporary suspension to adjust settlement on adverse judgment.F—Information not available.
3o
fcOCOCO
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300 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organization. assets, amounts collected from all sources, loans paid and other disbursements,
remaining assets returned to shareholders October 31, 1929
Farmers & Drovers National Bank, Waynesburg, Pa_-First National Bank, Billings, Mont __First National Bank, Sutton, W. VaFirst NaMonal Bank, Uniontown, PaFirst National Bank, Eureka, S. DakFirst National Bank, Hearne, TexFirst National Bank, Gridley, Calif.First National Bank, Ranger, TexCorn Belt National Bank, Scotland, S. DakFirst National Bank, Ambia, IndFirst National Bank, Bridgeport, NebrBannock National Bank, Pocatello, IdahoFirst National Bank, Vale, OregStillwater Valley National Bank, Absarokee, Mont.National City Bank, Salt Lake City, UtahState National Bank, Ardmore, OklaCorydon National Bank, Corydon, Ind..First National Bank, Oak Grove, La _First National Bank, Ingomar, MontAmerican National Bank, Billings, MontMerchants National Bank, Wimbledon, N. DakFirst National Bank, Mountainair, N. Mex.Commercial National Bank, Great Falls, MontSterling National Bank, Sterling, ColoPayette National Bank, Payette, Idaho__Citizens National Bank, Laurel. Mont__First National Bank, Broadview, Mont _.Commercial National Bank, Wilmington, N. CFirst National Bank, Winner, S. Dak 1First National Bank, Wessington Springs, S. DakFirst National Bank, Harlowton, MontFirst National Bank of Roundup, MontFirst National Bank, Gregory, S. Dak__Llano National Bank, Llano, TexFirst National Bank of Rock River, WyoFirst National Bank, Joseph, OregPeoples National Bank, Salisbury, N. CFirst National Bank, Sapulpa, OklaHoward National Bank, Howard, S. DakFirst National Bank, Wells, MinnFirst National Bank, Mitchell, S. DakCavalier County National Bank, Langdon, N. DakAmerican National Bank, Three Forks, MontLehigh National Bank, Lehigh, OklaCity National Bank, Coalgate, OklaFirst National Bank, Grey Eagle, MinnFirst National Bank, Fairview, MontUnion National Bank, Beloit, KansTexas County National Bank, Guymon, OklaNational Bank of Barnesville, Barnesville, OhioCitizens National Bank, Roswell, N. Mex. .._First National Bank, Lancaster, Minn. . .First National Bank, Turtle Lake, N. DakFirst National Bank, Forsyth, MontCondon National Bank, Condon, Oreg-First National Bank, Moore, MontMerchants National Bank, Mandan, N. DakFirst National Bank, Webster, S. DakSioux Falls National Bank Sioux Falls, S. DakFirst National Bank, Beach, N. DakNational Bank of Carlsbad, Carlsbad, N. MexDakota National Bank, Dickinson, N. DakFirst National Bank, St. John, Wash_First National Bank, Warroad, MinnFirst National Bank, Brookings, S. DakFirst National Bank, Ronan, MontFirst National Bank, Clarkston, WashFirst National Bank, Carthage, S. Dak___ _First National Bank, Onida, S. DakCommercial National Bank., Miles City, Montana
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 301appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
302 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Progress of liquidation to date of this report Disposition of proceedsof liquidation
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REPORT OF THE COMPTROLLER OF THE CURRENCY 303
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
304 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Nowata National Bank, Nowata, OklaFirst National Bank, Castlewood, S. DakFirst National Bank, Sidney, MontStockmens National Bank, Fort Benton, MontFirst National Bank, Fort Sumner, N. MexWells National Bank, Wells, MinnFirst National Bank, Gering, Nebr _Western National Bank, Mitchell, S. DakFirst National Bank, Coalgate, OklaFirst National Bank, Mclntosh, S. DakFirst National Bank, St. Anthony, IdahoFirst National Bank, Huron, S. Dak.Farmers & Merchants National Bank, Fairbury, Nebr.First National Bank, Golva, N. Dak__First National Bank, Lingle, Wyo__. _Torrington National Bank, Torrington, WyoFirst National Bank, Poison, MontMerchants National Bank, Crookston, MinnFirst National Bank, Lake Preston, S. DakFirst National Bank, Plenty wood, Mont __.First National Bank, Sterling, ColoFirst National Bank of Fergus County, Lewistown,
Mont.First National Bank, Alexander, N. DakFirst National Bank, Pilger, Nebr. _.._National Bank of Commerce, Shawnee, Okla.Citizens National Bank, Hankinson, N. DakFirst National Bank, Carlsbad. N. MexFarmers National Bank, Burlington, KansDrovers National Bank, East St. Louis, 111First National Bank, Schuyler, NebrFirst National Bank, Morristown, S. DakCity National Bank, Huron, S. Dak.1Citizens National Bank, Julesburg, ColoFirst National Bank, Basin, WyoCitizens National Bank, Worthington, MinnNational Bank of Commerce, Rochester, N. YWeiser National Bank, Weiser, IdahoFirst National Bank, Cheyenne, WyoFirst National Bank, Bridgewater, S. Dak;First National Bank, Harrington, Wash.First National Bank, Rexburg, IdahoFirst National Bank, Putnam, ConnFirst National Bank, Beaver Creek, MinnFirst National Bank, Ozark, AlaFirst National Bank, Ulen, MinnFirst National Bank, Alma, WisMerchants National Bank, Grinnell, Iowa_._First National Bank, Algona, IowaFirst National Bank, Boise City, OklaFirst National Bank, Allendale, S. CFirst National Bank, BarnweU, S. CFirst National Bank, Center, TexFarmers National Bank, Dodge Center, Minn.First National Bank, Torrington, WyoParkesburg National Bank, Parkesburg, PaFirst National Bank, Oldham, S. DakFirst National Bank, Spring Hope, N. CStockmens National Bank, Columbus, MontFirst National Bank, Alexandria, MinnFirst National Bank, Townsend, MontFirst National Bank, Rigby, IdahoFirst National Bank, Sylvester, Ga_._First National Bank, Salem, S. Dak..Jefferson County National Bank, Rigby, Idaho *Neoga National Bank, Neoga, 111First National Bank, Excelsior Springs, MoLogan County National Bank, Sterling, ColoFirst National Bank, Buena Vista, Ga...
doReceiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 305appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
306 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 307
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
308 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
First National Bank, Hampton, GaPerry National Bank, Perry, IowaFarmers National Bank, Hempstead, TexasThe National Bank of Abbeville, Abbeville, S. CCommercial National Bank, Charleston, S. CFirst National Bank, Quincy, FlaNational Bank of Commerce, Pierre, S. DakBlack Hawk National Bank, Waterloo, Iowa L__First National Bank, Atwater, Minn.First National Bank, Renville, MinnFirst National Bank, Idabel, OklaFirst National Bank, Pleasantville, Iowa.__First National Bank, Wapanucka, OklaFirst National Bank, Matoaka, W. VaCity National Bank, Clarksville, Tex_First National Bank, Montpelier, Idaho___First National Bank, Lemmon, S. Dak—_Commercial National Bank, Greenville, TexGeorgia National Bank, Athens, GaOsceola National Bank, Osceola, IowaFirst National Bank, Wimbledon, N. DakFirst National Bank, Hedrick, Iowa1
First National Bank, Jasper, MinnFirst National Bank of Las Vegas, East Las Vegas,
N. Mex.First National Bank, Conyers, Ga _ _.Hugo National Bank, Hugo, Okla _.First National Bank, Carnegie, PaBurgettstown National Bank, Burgettstown, PaFirst National Bank, Selma, N. C.._First National Bank, Madison, S. DakFarmers National Bank, Louisburg, N. C__First National Bank, Florence, S. C _.First National Bank, Clear Lake, S. DakFirst National Bank, Crandon, Wis.City National Bank, Hugo, OklaFirst National Bank, Springer, N. MexMerchants National Bank, Detroit Lakes, MinnFirst National Bank, St. Cloud, MinnFirst National Bank, Abercrombie, N. DakFirst National Bank, Wausa, Nebr _._First National Bank, Redwood Falls, MinnFirst National Bank, Lumberton, N. CFirst National Bank, Lake Park, MinnGtobe National Bank, Denver, ColoFirst National Bank, Warren, MinnFirst National Bank, Winifred, Mont_._ _._First National Bank, Hallock, MinnFirst National Bank, Buffalo, MinnManilla National Bank, Manilla, IowaLoveland National Bank, Loveland, Colo_.._Winner National Bank, Winner, S. DakMuskogee Security National Bank, Muskogee, Okla—First National Bank, Forest City, IowaDavenport National Bank, Davenport, WashFirst National Bank, Pasco, WashFirst National Bank, Howard, S. DakGregory National Bank, Gregory, S. DakFirst National Bank, Sac City, Iowa__.First National Bank, Brooklyn, IowaWarren National Bank, Warren, MinnFirst National Bank, Covington, Ga _.First National Bank, Delano, Minn _First National Bank, Creston, Iowa * _._Farmers & Merchants National Bank, Cannon Falls,
Minn.Farmers National Bank, Lake Preston, S. DakFirst National Bank, Jefferson, Iowa
1 Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 309appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
310 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Progress of liquidation to date of this report Disposition of proceedsof liquidation
159, 7562 68.5165 per cent paid by purchasing bank and 7.0625 per cent paid by comptroller 's office.3 Including dividends paid through or by purchasing banks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 311
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
312 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receiversf dates of organization*assets, amounts collected from all sources, loans paid and other disbursements*remaining assets returned to shareholders October 31, 1929—Continued
Drovers National Bank, Denver, ColoFirst National Bank, Rifle, ColoHome National Bank, Cleburne, TexSecurity National Bank, Mason City, Iowa..Glasgow National Bank, Glasgow, MontNational Bank of Luverne, Luverne, Minn__First National Bank, Greensboro, GaBroadway National Bank, Denver, ColoFirst National Bank, Tama, Iowa _.First National Bank, Waukon, Iowa...First National Bank, Gilmore City, IowaFirst National Bank, Poeahontas, IowaCando National Bank, Cando, N. DakFirst National Bank, Ada, Minn.First JN ationai .Ban*:, Ada, ivimnNational Bank of Wessington Springs, Wessington
Springs, S. Dak.Farmers National Bank, La Moure, N. DakFirst National Bank, Estherville, IowaStockmens National Bank, Brush, ColoLiberty National Bank of South Carolina, at Columbia,
S. C.iFirst National Bank in Kiefer, Okla _.First National Bank, Marion, N. DakSpirit Lake National Bank, Spirit Lake, IowaFirst National Bank. Deep River, IowaFirst National Bank, Blue Mound, 111 _First National Bank, Intake, MontFirst National Bank, Frankfort, S. DakMoline National Bank, Moline, Kans _.First National Bank, Fulton, Mo .,___First National Bank, Shenandoah, IowaFirst National Bank, Cambridge, IowaFirst National Bank, Oktaha, Okla,Citizens National Bank, Wayne, NebrFirst National Bank, Noblesville, Ind _.First National Bank, Jonesboro, Ark _First National Bank, Hay den, Colo. _ __.First National Bank, Barnsdall, Okla •_Palm Beach National Bank, Palm Beach, Fla._First National Bank, Benson, MinnDe Smet National Bank, De Smet, S. DakFirst National Bank, Milford, IowaFirst National Bank, Dimiba, Calif.1-First National Bank, Glenwood, MinnJ} ILOl l^aiilUUEM. UiXlltL, U1BUWUUU, XVXJ.1111
Whitbeek National Bank, Chamberlain, S. DakFirst National Bank, Cumberland, IowaGuthrie County National Bank, Panora, IowaFirst National Bank, Royalton, MinnFirst National Bank, Pepin, WisFirst National Bank, Woonsocket, S. Dak..Peoples National Bank, Bennettsville, S. CFirst National Bank, Eldorado, 111First National Bank, Adrian, MinnFirst National Bank, Colman, S. DakFirst National Bank, Waubay, S. DakFirst National Bank, Akron, ColoOakes National Bank, Oakes, N. Dak ___National Farmers Bank, Owatonna, Minn_,_ _Anamoose National Bank, Anamoose, N. DakFirst National Bank, Veblen, S. DakFarmers National Bank, in Lidgerwood, N. DakFarmers & Merchants National Bank, Merced, Calif. _National Security Bank, Fairfax, S. C .._First National Bank, Lake Norden, S. DakFirst National Bank, Fulda, MinnFirst National Bank, Boswell, OklaNational Bank of Franklin, Franklin, TennFarmers & Merchants National Bank, Lake City, S. (5.City National Bank, Bismarck, N. Dak
.do.. :i1 Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.
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REPORT OF THE COMPTROLLER OP THE CURRENCY 313
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
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314 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Progress of liquidation to date of this report Disposition of proceedsof liquidation
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 315appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
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316 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
American National Bank, Atoka, Okla _.England National Bank, Little Rock, Ark.iFirst National Bank, Broken Bow, OklaFirst National Bank, Haworth, OklaFirst National Bank, Clearbrook, MinnFirst National Bank, Toledo, IowaFirst National Bank, Gonvick, Minn_First National Bank, Kingsburg, Calif.First National Bank, Brandon, Minn._First National Bank, Milbank, S. DakFirst National Bank, Armstrong, IowaCitizens National Bank, Spencer, Iowa.First National Bank, Wilder, Idaho ..First National Bank, Detroit Lakes, MinnFirst National Bank, Terril, IowaCitizens National Bank, Petty, Tex.Farmers National Bank, Manor, TexClarinda National Bank, Clarinda, IowaFirst National Bank, Marked Tree, ArkFirst National Bank, St. James, Minn_First National Bank, Leeds, N. DakFarmers National Bank, Brookings, S. DakFirst National Bank, Alta, IowaFirst National Bank, Elkton, S. DakPlanters National Bank, Honey Grove, TexFirst National Bank, New Hampton, Iowa *First National Bank, Hannaford, N. DakFirst National Bank, Malvern, IowaFirst National Bank, Stanley, N. DakFirst National Bank, Haleyville, AlaNational Bank of Oakesdale, Wash...Farmers National Bank, Newport, ArkFirst National Bank, Plattsmouth, NebrFirst National Bank, Adair, IowaFirst National Bank, University Place, NebrStory City National Bank, Story City, Iowa....Citizens National Bank, Ortonville, MinnFirst National Bank, Collinsville, OklaCitizens National Bank, Royal, IowaFirst National Bank, Carlyle, MontMonticello National Bank, Montieello, Ind.1First National Bank, Car dwell. MoFirst National Bank, Nevada, IowaFirst National Bank, Renwick, Iowa..First National Bank, Moulton, IowaFirst National Bank, Delano, CalifNational Bank of Jersey ville, Jerseyville, 111First National Bank, Argyle, MinnFirst National Bank, Boyce ville, Wis__Citizens National Bank, Commerce, Tex_Citizens National Bank, Lone Oak, TexFirst National Bank, Beardsley, Minn. _Farmers National Bank, Red Lake Falls, MinnFirst National Bank, Biggesville, ffl.i_.First National Bank, Edgeley, N. DakFarmers National Bank of Liagerw<First National Bank, Britt, Iowa.,.First National Bank, Montevideo, MinnPeoples First National Bank, Olivia, MinnFirst National Bank, Lincoln, ArkFirst National Bank, Clinton, MinnCitizens National Bank, Albert Lea, MinnFirst National Bank, Marengo, IowaFirst National Bank, Allegan, MichFirst National Bank, Rolette, N. DakFarmers & Merchants National Bank, Mount Morris,
Pa.First National Bank, Rush City, Minn.Central National Bank, Marietta, Ohio
i Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 317appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
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318 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other^ disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Progress of liquidation to date of this report Disposition of proceedsof liquidation
3 Including dividends paid through or by purchasing banks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 319appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
320 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organizationassets, amounts collected from all sources, loans paid and other^ disbursements,remaining assets returned to shareholders October 31, 1929—Continued
American National Bank, Stigler, OklaFirst National Bank, Belle Plaine, Iowa.First National Bank, Dunbar, PaExchange National Bank, Leon, Iowa.First National Bank, Hartley, IowaFirst National Bank, Norway, Iowa _.United States National Bank, Dinuba, Calif._ _..First National Bank, Lepanto, Ark _Provident National Bank, Waco, TexJLFirst National Bank of Benson, Hollsopple, Pa..First National Bank, Sheldon, IowaAmerican National Bank, Green City, MoFirst National Bank, Columbia City, Ind _.First National Bank, Fairfax, S. C.*_ ._First National Bank, Lake Worth, FlaFirst National Bank, Lake Mills, IowaFirst National Bank, Lineville, Iowa _First National Bank, Bend, Oreg _New First National Bank, in Lamberton, Minn__First National Bank, Dubois, Idaho ._.First National Bank, Biwabik, MinnCity National Bank in Kearney, Nebr__.Laurel National Bank, Laurel, NebrFarmers & Merchants National Bank, Alcester, S. Dak.First National Bank, Grafton, N. DakFirst National Bank, Chowchilla, Calif.Merchants National Bank, Greene, IowaFirst National Bank, Kennebec, S. Dak_First National Bank, Medaryville, IndFirst National Bank, Spencer, Iowa.First National Bank, Farmersville, 111-First National Bank, Lamberton, Minn.iPeoples National Bank, Waukon, IowaFirst National Bank, East Grand Forks, MinnFayette City National Bank, Fayette City, PaFirst National Bank, Webster, PaNational Bank of Fayetteville, Fayetteville, N. CFirst National Bank, Bishop, Calif _.Citizens National Bank, Waynesburg, PaFirst National Bank, Sheridan, Ind.i _First National Bank, Spirit Lake, Iowa i._.First National Bank, In wood, Iowa _ _First National Bank, Tabor, Iowa iFarmers National Bank, Odell, Ill.iCentral National Bank, Kearney, Nebr.iCity National Bank of Kearney, Kearney, Nebr.iFirst National Bank, Mallard, Iowa. _.First National Bank, Bancroft, IowaFirst National Bank in Sallisaw, Okla _.First National Bank, Muldrow, OklaNational Bank of Lagrange, Lagrange, IndFirst National Bank, Swea City, Iowa.First National Bank, Milburn, Okla___First National Bank, Havelock, IowaNational State Bank, Stockton, KansNational Bank of West Palm Beach, West Palm
Beach Fla.First National Bank, New Cumberland, W. VaFirst National Bank, Roff, Okla....First National Bank, Cheeotah, OklaFirst National Bank, Hope, N. DakFirst National Bank, Manning, S. CNational Bank of Bowman, Bowman, S. C__First National Bank, Abingdon, I1DFirst National Bank, Wynot, NebrAmerican National Bank, Sallisaw, OklaNew Georgia National Bank, Albany, Ga.._First National Bank, Minnewaukan, N. DakFirst National Bank, Greenville, Tex.i _._.
* Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 321appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
322 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other• disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Progress of liquidation to date of this report Disposition of proceedsof liquidation
8 Including dividends paid through or by purchasing banks.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 323
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
324 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 81, 1929—Continued
First National Bank, Mullens, W.VaFirst National Bank, Hanna, OklaFirst National Bank, Lisbon, N. Dak _First National Bank, Delta, Utah iFirst National Bank, Lorena, TexFirst National Bank, Plainville, KansFirst National Bank, Laurel, Nebr _Chase County National Bank, Cotton wood Falls, KaFirst National Bank, Derby, Iowa__ _Laurens National Bank, Laurens, S. CFirst National Bank, La Porte City, IowaCitizens National Bank, Shelbyville, 111Astoria National Bank, Astoria, OregFirst National Bank, Balaton, Minn.*Farmers National Bank, Phillipsburg, KansFirst National Bank, Galva, Iowa 1
First National Bank, Ashton, IdahoNew First National Bank in Springfield, MoFirst National Bank, Greenfield, IowaFirst National Bank, Carrington, N. Dak_._First National Bank, Osborne, Kans,First National Bank, Toronto, S. DakFirst National Bank, St. George, S. C._.First National Bank. Rolfe, IowaCommercial National Bank, Statesville, N. C._First National Bank, Bristow, OklaFirst National Bank, Stewardson, 111.First National Bank, Avooa, MinnFirst National Bank, Rice, Minn..American National Bank, Sarasota, FlaFirst Citizens National Bank, Mt. Sterling, OhioFirst National Bank, Moweaqua, 111First National Bank, Marshalltown, IowaFirst National Bank, Arcadia, Ind _._Peoples National Bank, Independence, Iowa1-First National Bank, Independence, Iowa l
First National Bank, Calexico, CalifFirst National Bank, Denton, TexFirst National Bank, Plainview, NebrLake County National Bank, Madison, S. DakSecurity National Bank, Fargo, N. DakCitizens National Bank, Woonsocket, R. IFirst National Bank, Dublin, Ga__._First National Bank, Aledo, HI...First National Bank, Wesley, Iowa...rCarolina National Bank, Darlington, S. C_First National Bank, Farmland, Ind iLainar National Bank, Lamar, S. C __Hartington National Bank, Hartington, NebrFirst National Bank, Cheraw, S. C_ _First National Bank, Dunn, N. C_Farmers National Bank, Wakefield, NebrFourth National Bank, Macon, GaFirst National Bank, Richland Center, WisFirst National Bank, Garner, Iowa*.First National Bank, Warren, IndFirst National Bank, Covington, Ind.1Cass County National Bank, Casselton, N. D.First National Bank, Benson, N. CPeoples National Bank, Middletown, DelFirst National Bank, Fort Lauderdale, Fla.1 _.First National Bank, Mena, Ark.1First National Bank, Lewisville, Ohio_First and Moorhead National Bank, Moorhead, Minn-Exchange National Bank, Denton, TexFirst National Bank, Frisco, TexFirst National Bank, Kingsbury, TexFirst National Bank, Coleridge, Nebr
Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.
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EEPORT OF THE COMPTROLLER OF THE CURRENCY 325appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
326 KEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization)assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 31, 1929—Continued
Progress of liquidation to date of this report Disposition of proceedsof liquidation
3 Including dividends paid through or by purchasing banks.• 100 per cent paid by purchasing bank.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
HEPOET OF THE COMPTROLLER OF THE CURRENCY 327
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
328 REPORT? OF THE COMPTBOLI/EB OF THE CURRENCY
TABLE NO* 44.—National banks in charge of receiver8r date* of organization,assetsf amounts collected from all sources, loans paid and other disbursements)remaining assets returned to shareholders October 81, 1929—Continued
Exchange National Bank, Spokane, Wash .__First Exchange National Bank, Coeur d'Alene, Idaho_First National Bank, Wagener, 8. C _..Minneapolis National Bank, Minneapolis, Kans _.First National Bank, Melvin, IowaFirst National Bank, Manchester, Iowa __.Citizens National Bank, Hope, Ind.. _First National Bank, Avon Park, Fla. _First National Bank, Punta Gorda, FlaFirst National Bank, Bixby, Okla...First National Bank, Brunson, S. CCarlton National Bank, Waucbula, FlaFirst National Bank, Roekford, IowaNational Bank of Ainsworth, Nebr.sFirst National Bank, Erskine, MinnNational Bank of Larimore, N. Dak.First National Bank, Denton, MontFirst National Bank, West Alexandria, OhioFirst National Bank, Sandersvffle, Ga _National Bank of Enimetsburg* Iowa_First National Bank, Waverly, Va.L__First National Bank, Sanborn, N. DakPeoples National Bank, Adena> OhioReed City National Bank, Reed! City, MichFirst National Bank, Ruthven,IowaFirst National Bank, Sebring, FJaFirst National Bank, Lakeland, FlaFirst National Bank, Auburndale, Fla_ ._National Exchange Bank, St. Paul, Minn.iFirst National Bank, Shinnston, W. VaFirst National Bank, Aneta, N. DakRosedale National Bank, Rosedale, Miss._First National Bank in Langdon, Langdon, N. Dak..First National Bank, Mayville, N. DakPolk County National Bank, in Bartow, FlaEast Alabama National Bank, Eufaula, AlaNational Bank of Newberry, S. CSouth Pasadena National Bank,South Pasadena, CalifFirst National Bank, McHenry, N. Dak__First National Bank, De Land, FlaFirst National Bank, Sanford, FlaFirst National Bank, Dahlgren, 111First National Bank, St. Augustine, FlaFirst National Bank, Winter Garden, Fla.sMiners National Bank, Blossburg, Pa _First National Bank, Drayton, N. DakFirst National Bank, Maquon, Hl__Henry National Bank, Abbeville, Ala_First National Bank, Moultrie, Ga _.First National Bank, Montezuma, IowaFirst National Bank, El Dorado Springs, Mo _.First National Bank, Delta, Colo _Farmers National Bank, Red Oak, Iowa _ _Taylorville National Bank, Taylorville, 111First National Bank, Taylorville, 111 _First National Bank, New Bern, N. C
1 Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.* Restored to solvency.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPORT OF THE COMPTEOLLEE OF THE CUERENCY 329appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
330 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 44.—National banks in charge of receivers, dates of organization,assets, amounts collected from all sources, loans paid and other disbursements,remaining assets returned to shareholders October 81, 1929—Continued
3 Including dividends paid through or by purchasing banks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 331
appointment of receivers, and closing, with amounts of nominal and additionallosses on assets, expenses of receiverships, claims proved, dividends paid, and
Abington National Bank, Abington, MassFarley National Bank, Montgomery, AlaFirst National Bank, Arkansas City, KansCity National Bank, Brownwood, TexCitizens National Bank, Spokane Falls, WashFirst National Bank, Philipsburg, Mont _Bozeman National Bank, Bozeman, MontMontana National Bank, Helena, MontFirst National Bank, Great Falls, Mont .__First National Bank, Kankakee, 111First National Bank, Orlando, FlaCitizens National Bank, Miincie, IndFirst National Bank, Port Angeles, WashState National Bank, Denver, ColoAmerican National Bank, Denver, ColoFirst National Bank, Sioux City, IowaHampshire County National Bank, Northampton, Mass. .Seventh National Bank, New York, N. Y _First National Bank, Austin, Tex . .Boliver National Bank, Boliver, PaFederal National Bank, Pittsburgh, PaFirst National Bank, Allegheny, PaFirst National Bank, Brooklyn, N . YUnion National Bank, Sommerville, PaFirst National Bank, Burnside, KyFirst-Second National Bank, Pittsburgh, PaMarion National Bank, Marion, KansFirst National Bank, Gallatin, TennAmerican National Bank, Pensacola, Fla _First National Bank, Islip, N. YFarmers & Merchants National Bank, Mount Morris, Fa .Union National Bank, Providence, KyFirst National Bank, Perry, Ark.Third National Bank, Fitzgerald, Ga __Wharton National Bank, Wharton, Tex _.First National Bank, Casselton, N. DakFirst National Bank, Daytona, FlaFirst National Bank, Killeen, TexFirst National Bank, Streeter, N. DakState National Bank, Carlsbad, N. Mex_ __Nocona National Bank, Nocona, TexFirst National Bank, Tombstone, ArizFirst National Bank, Lafayette, Colo _ __First National Bank, Poplar, Mont.First National Bank, Lawton, OklaNational Bank of Hastings, Hastings, OklaFirst National Bank, Mohall, N. DakFirst National Bank, Ackerman, MissMerchants National Bank, Ada, Okla.First National Bank, Watts, Calif..First National Bank, Wetumka, OklaFirst National Bank, Tower City, N. DakMilnor National Bank, Mirnor, N . DakFirst National Bank, Spanish Fork, Utah.Citizens National Bank, Jamestown, N. DakCitizens National Bank, Sisseton, S. DakFarmers National Bank, Red Oak, IowaPowell National Bank, Powell, Wyo._First National Bank, Walhalla, N . DakCity National Bank, McAlester, Okla.First National Bank, Volant, PaFirst National Bank, Libby, MontFarmers National Bank, Laurens, S. CFirst National Bank, Hardin, Mont . . .First National Bank, Steele, N. DakFirst National Bank, Granger, Tex __.First National Bank, Warsaw, N . CStockmens National Bank, Nampa, IdahoFirst National Bank, Ha warden, IowaFirst National Bank, Fort Branch, IndNational Bank of Ainsworth, Ainsworth, Nebr..First National Bank, Winter Garden, Fla
Aug. 3,1886Oct. 7,1891June 15,1893June 20,1893July 1,1893July 8,1893July 23,1893Aug. 2,1893Aug. 5,1893
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BBPOKT OF THE COMPTBOLLEK OF THE CTJEBENCY 333
TABLE NO. 45.—National banks restored to solvency after having been placed incharge of receivers—Continued
271291304386575608639661738
104811101310
Title and location of bank
NATIONAL BANKS BESTORED TO SOLVENCY WHICH SUBSEQUENTLYBECAME INSOLVENT
Citizens National Bank, Spokane Falls, Wash.*First National Bank, Port Angeles,. Wash.1 .First National Bank, Orlando, Fla.1First National Bank, Arkansas City, Kans.1... _Ben Hill National Bank, Fitzgerald, Ga.* *State National Bank, Carlsbad, N. Mex.iFirst National Bank Mohall N Dak 1First National Bank, "Lawto-n, Okla 1First National Bank, Poplar, Mont.1First National Bank, Aokerman, Miss.1 __ __Farmers & Merchants National Bank, Mount Morris, Pa.1Farmers National Bank, Red Oakr Iowa.1
1 Second failure. 2Formerly "Third National Bank."
TABLE NO. 46.—Dividends paid to creditors of insolvent national banks duringthe year ended October SI, 1929
Name and location of bank
National Bank of Abbeville, Abbeville, S. C._First National Bank, Abingdon, IIIFirst National Bank, Adair, Iowa -Peoples National Bank, Adena, OhioFirst National Bank, Adrian, MinnNew Georgia National Bank, Albany, GaCitizens National Bank, Albert Lea, MinnFarmers & Merchants National Bank, Alcester, S. Dak_First National Bank^ Aledo, 111First National Bank, Alexander, N. DakFirst National Bank, Alexandria, Minn__First National Bank, Algona, IowaFirst National Bank, Allegan, Mich__First National Bank, Allendale. S. CFirst National Bank, Alma, WisAnamoose National Bank, Anamoose, N. DakFirst National Bank, Arcadia, IndState National Bank, Ardmore, OklaFirst National Bank, Armstrong, Iowa__ >...First National Bank, Ashton, IdahoAstoria National Bank, Astoria, Oreg __Georgia National Bank, Athens, Ga_..-First National Bank, Avoca, Mmn__ _ __First National Bank, Baker, Mont.First National Bank, Balaton, MinnFirst National Bank, Bancroft, IowaNational Bank of Barnesville, Barnesville, OhioFirst, National Bank, Bamsdall, OklaFirst National Bank, Barnwell, S. C_First National Bank, Basin, WyoFirst National Bank, Beach, N. DakFirst National Bank, Beardsley, MinnFirst National Bank, Beaver Creek, MinnFirst National Bank, Belle Plaine, IowaUnion National Bank, Beloit, KansFirst National Bank, Bend, OregPeoples National Bank, Bennettsville, S. CFirst National Bank, Benson, MinnFirst National Bank, Benson, N. CFirst National Bank of Benson, Hollsopple, PaFirst National Bank, Biggsville, 111American National Bank, Billings, MontFirst National Bank, Bishop, Calif
1 Deduction by reason of dividend previously reported as paid but now canceled.
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334 BEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 46.—Dividends paid, to creditors of insolvent national banks duringthe year ended October 31, 1929—Continued
Name and location of bankDate of ap-
pointment ofreceiver
Dividends paid dur-ing the year
Amount Per cent
Totalper centof divi-dendspaid to
creditors
City National Bank, Bismarck, N. DakFirst National Bank, Biwabik, MinnFirst National Bank, Bixby, OklaFirst National Bank, Boswell, OklaNational Bank of Bowman, Bowman, S. C.First National Bank, Boyceville, WisFirst National Bank, Brandon, MinnFirst National Bank, Bridgewater, S. Dak..First National Bank, Bristow, OklaFirst National Bank, Britt, IowaFirst National Bank, Broadview, MontFarmers National Bank, Brookings, S. DakFirst National Bank, Brookings, S. DakStockmens National Bank, Brush, ColoFirst National Bank, Buena Vista, GaBurgettstown National Bank, Burgettstown, PaFarmers National Bank, Burlington, KansCando National Bank, Cando, N. Dak__.Farmers and Merchants National Bank, Cannon Falls,
Minn.._First National Bank, Cardwell, MoNational Bank of Carlsbad, Carlsbad, N. MexFirst National Bank, Carlsbad, N. MexFirst National Bank, Carlyle, MontFirst National Bank, Carnegie, PaFirst National Bank, Carrington, N. DakFirst National Bank, Carthage, S. Dak _Cass County National Bank, Casselton, N. DakFirst National Bank, Castlewood, S. DakCommercial National Bank, Charleston, S. C.First National Bank, Checotah, OklaFirst National Bank, Cheraw, S. C_._First National Bank, Cheyenne, Wyo._First National Bank, Chowchilla, CalifClarinda National Bank, Clarinda, IowaFirst National Bank, Clarkston, WashCity National Bank, Clarksville, Tex__First National Bank, Clayton, N. Mex.First National Bank, Clear Lake, S. Dak...Home National Bank, Cleburne, Tex__First National Bank, Clinton, MinnCity National Bank, Coalgate, Okla_First National Bank, Coleridge, Nebr.._First National Bank, Collinsville, Okla._First National Bank, Colman, S. Dak _._Liberty National Bank of South Carolina, Columbia,
S. CFirst National Bank, Columbia City, IndCitizens National Bank, Commerce, Tex_._First National Bank, Conyers, GaCorydon National Bank, Corydon, Ind._Chase County National Bank, Cottonwood Falls,
Kans-__ _First National Bank, Covington, IndFirst National Bank, Creston, IowaMerchants National Bank, Crookston, MinnCarolina National Bank, Darlington, S. C ,First National Bank, Deep Kiver, IowaFirst National Bank, Delano, MinnFirst National Bank, Delta, Utah._._First National Bank, Denton, Mont_Exchange National Bank, Denton, TexFirst National Bank, Denton, TexBroadway National Bank, Denver, Colo_Drovers National Bank, Denver, Colo _Globe National Bank, Denver, ColoDe Smet National Bank, De Smet, S. DakMerchants National Bank of Detroit, Detroit Lakes,
Minn JFirst National Bank, Dinuba, Calif.United States National Bank, Dinuba, Calif_First National Bank, Dubois, IdahoFirst National Bank, Dunbar, Pa
751 Deduction by reason of dividend previously reported as paid but now canceled.2 To nonassenting creditors in accordance with agreement.3 To assenting creditors in accordance with agreement.
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REPORT OP THE COMPTROLLER OF THE CURRENCY 335
TABLE NO. 46.—Dividends paid to creditors of insolvent national banks duringthe year ended October 81, 1929—Continued
Name and location of bankDate of ap-
pointment ofreceiver
Dividends paid dur-ing the year
Amount Per cent
Totalper centof divi-dendspaid to
creditors
First National Bank, Dunn, N. OFirst National Bank, East Grand. Forks, MinnDrovers National Bank, East St. Louis, 111First National Bank, Edgeley, N. DakFirst National Bank, Eldorado, 111First National Bank, Elkton, S. DakNational Bank of Emmetsburg, Emmetsburg, Iowa...First National Bank, Estherville, IowaFirst National Bank, Excelsior Springs, MoFarmers and Merchants National Bank, Fairbury,
NebrFirst National Bank, Fairfax, S. C ._National Security Bank, Fairfax, S. C.__ __Security National Bank, Fargo, N. Dak __First National Bank, Farmersville, 111 -First National Bank, Farmland, IndFayette City National Bank, Fayette City, Pa _.National Bank of Fayette ville, Fayette ville, N. CFirst National Bank, Florence, S. CFirst National Bank, Forest City, IowaStockmens National Bank, Fort Benton, MontFirst National Bank, Fort Sumner, N. Mex ._First National Bank, Frankfort, S. Dak ___National Bank of Franklin, Franklin, TennFirst National Bank, Frisco, Tex .__First National Bank, Galva, IowaFirst National Bank, Garner, IowaFirst National Bank of Gilmore, Gilmore City, Iowa..Glasgow National Bank, Glasgow, MontFirst National Bank, Glenwood, Minn—First National Bank, Golva, N. DakFirst National Bank, Gonvick, MinnFirst National Bank, Grafton, N. Dak _.Commercial National Bank, Great Falls, MontAmerican National Bank, Green City, Mo -.Merchants National Bank, Greene, IowaFirst National Bank, Greenfield, Iowa..First National Bank, Greensboro, GaCommercial National Bank, Greenville, TexFirst National Bank, Greenville, Tex.Gregory National Bank, Gregory, S. DakMerchants National Bank, Grinnell, IowaTexas County National Bank, Guymon, Okla _First National Bank, Haleyville, Ala __First National Bank, Hallock, Minn _-.First National Bank, Hampton, GaCitizens National Bank, Hankinson, N. DakFirst National Bank, Hanna, OklaFirst National Bank, Hannaford, N. Dak_First National Bank, Harlowton, Mont ._-Hartington National Bank, Hartington, NebrFirst National Bank, Hartley, IowaFirst National Bank, Havelock, IowaFirst National Bank, Ha worth, OklaFirst National Bank, Hayden, ColoPlanters National Bank, Honey Grove, Tex _-Citizens National Bank, Hope, IndFirst National Bank, Hope, N. Dak__.First National Bank, Howard, S. DakHoward National Bank, Howard, S. DakCity National Bank, Hugo, OklaHugo National Bank, Hugo, Okla__First National Bank, Huron, S. DakFirst National Bank, Idabel, Okla_First National Bank, Independence, IowaPeoples National Bank, Independence, IowaFirst National Bank, Ingomar, MontFirst National Bank, Intake, MontFirst National Bank, Inwood, IowaFirst National Bank, Jasper, MinnNational Bank of Jerseyville, Jerseyville, 111-_First National Bank, Jonesboro, ArkCitizens National Bank, Julesburg, Colo...City National Bank in Kearney, NebrNational Bank of La Grange, La Grange, IndFarmers & Merchants National Bank, Lake City, S. C.First National Bank, Lake Mills, Iowa
i Deduction by reason of dividend previously reported as paid but now canceled.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
336 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 46.—Dividends paid to creditors of insolvent national banks duringthe year ended October 31, 1929—Continued
Name and location of bankDate of ap-
pointment ofreceiver
Dividends paid dur-ing the year
kmchintAnn Per cent
Totali>er cent'of divi-
dendspaid to
creditors
First National Bank, Lake Norden, S. Dak_Farmers National Bank, Lake Preston, S. DakFirst National Bank, Lake Preston, S. DakFirst National Bank, Lake Worth, FlaLamar National Bank, Lamar, S. CFirst National Bank, Lamberton, MinnNew First National Bank in Lamberton, MinnFarmers National Bank, La Moure, N. Dak _.First National Bank, Lancaster, Minn _.First National Bank, La Porte City, Iowa... _.National Bank of Larimore, Larimore, N. Dak_First National Bank, Las Vegas, N. MexLaurel National Bank, Laurel, Nebr._Laurens National Bank, Laurens, S. CFirst National Bank, Leeds, N. DakLehigh National Bank, Lehigh, OklaFirst National Bank, Lemmon, S. Dak __.Exchange National Bank, Leon, IowaFirst National Bank, Lepanto, Ark _First National Bank of Fergus County, Lewistown,
Mont 'First National Bank, Lewisville, OhioFarmers National Bank in Lidgerwood, N. Dak '..First National Bank, Lincoln, Ark_. _._First National Bank, Lineville, IowaFirst National Bank, Lingle, Wyo._ ._First National Bank, Lisbon, N. DakLlano National Bank, Llano, TexCitizen National Bank, Lone Oak, Tex__.Farmers National Bank, Louisburg, N. CLoveland National Bank, Loveland, ColoFirst National Bank, Lumberton, N. CNational Bank of Luverne, Luverne, MinnFirst National Bank, Mclntosh, S. Dak_.Fourth National Bank, Macon, Ga _ _.First National Bank, Madison, S. DakLake County National Bank, Madison, S. DakFirst National Bank, Mallard, IowaFirst National Bank, Malvern, Iowa __First National Bank, Manchester, IowaManilla National Bank, Manilla, IowaFirst National Bank, Manning, S. CFarmers National Bank, Manor, TexFirst National Bank, Marengo, Iowa_First National Bank, Marion, N. Dak __First National Bank, Marked Tree, ArkFirst National Bank, Marshalltown, Iowa _Security National Bank. Mason City, TowaFirst National Bank, Matoaka, W. VaFirst National Bank, Medaryville, IndFirst National Bank, Melvin, Iowa..First National Bank, Mena, ArkFarmers & Merchants National Bank, Merced, Calif.Peoples National Bank, Middletown, DelFirst National Bank, Milbank, S. DakFirst National Bank, Milburn, OklaFirst National Bank, Milford, IowaMinneapolis National Bank, Minneapolis, KansFirst National Bank, Minnewaukan, N. DakFirst National Bank, Mitchell, S. DakWestern National Bank, Mitchell, S. DakMoline National Bank, Moline, Kans _ _First National Bank, Montevideo,'MinnFirst National Bank, Montpelier, Idaho _First National Bank, Moore, MontFirst National Bank, Morristown, S. Dak ___First National Bank, Moulton, IowaFirst National Bank, Mountainair, N. Mex rFarmers & Merchants National Bank, Mount Morris,
PaFirst Citizens National Bank, Mount Sterling, Ohio.First National Bank, Moweaqua, HIFirst National Bank, Muldrow, Okla _
1 Deduction by reason of dividend previously reported as paid but now canceled.2 To nonassenting creditors in accordance with agreement.8 To assenting creditors in accordance with agreement.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 337
TABLE NO. 46.—Dividends paid to creditors of insolvent national banks duringthe year ended October 81, 1929—Continued
Name and location of bankDate of ap-
pointment ofreceiver
Dividends paid dur-ing the year
A mount Per cent
Totalper centof divi-dends
paid tocreditors
First National Bank, Mullens, W. VaMuskogee Security National Bank, Muskogee, Okla._Neoga National Bank, Neoga, 111First National Bank, Nevada, Iowa. .First National Bank, New Hampton, IowaFarmers National Bank, Newport, ArkOakes National Bank, Oakes, N. Dak _First National Bank, Oak Grove, La_ _First National Bank, Oktaha, OklaFirst National Bank, Oldham, S. DakPeoples First National Bank, Olivia, MinnCitizens National Bank, Ortonville, MinnFirst National Bank, Osborne, KansOsceola National Bank, Osceola, IowaNational Farmers Bank, Owatonna, MinnPalm Beach National Bank, Palm Beach, Fla_-_Guthrie County National Bank, Panora, Iowa__.Parkesburg National Bank, Parkesburg, PaPayett8 National Bank, Payette, Idaho__ .__Perry National Bank, Perry, IowaCitizens National Bank, Petty, Tex . _,.Farmers National Bank, Phillipsburg, KansNational Bank of Commerce, Pierre, S. DakFirst National Bank, Plain view, NebrFirst National Bank, Plainview, KansFirst National Bank, Plattsmouth, NebrFirst National Bank, Pleasantville, IowaFirst National Bank in Pocahontas, IowaFirst National Bank, Poison, MontFirst National Bank, Punta Gorda, Fla _First National Bank, Putnam, Conn.Farmers National Bank, Red Lake Falls, Minn. .First National Bank, Redwood Falls, MinnFirst National Bank, Renville, MinnFirst National Bank, Renwick, Iowa .First National Bank, Rexburg, IdahoF i m National Bank, Rice, MinnFirs^National Bank, Richland Center, WisFirst National Bank, Rifle, ColoFirst National Bank, Rockford, IowaFirst National Bank, Rorl, Okla. _ _ _First National Bank, Rolette, N . DakFirst National Bank, Rolfe, IowaFirst National Bank, Ronan, MontCitizens National Bank, Roswell, N . MexFirst National Bank, Roundup, MontRoundup National Bank, Roundup, Mont ocyuCitizens National Bank, Royal, Iowa Jan.First National Bank, Royalton, Minn _ | JulyFirst National Bank, Rush City, Minn ~ 'First National Bank, Ruthven, IowaFirst National Bank, St. Anthony, IdahoFirst National Bank, St. Cloud, Minn . . .First National Bank, St. George, S. CFirst National Bank, St. James, Minn .First National Bank, St. John, WashFirst National Bank, Salem, S. Dak ,Peoples National Bank, Salisbury, N . C._American National Bank, Sallisaw, OklaFirst National Bank in Sallisaw, OklaNational City Bank, Salt Lake City, UtahFirst National Bank, Sanborn, N . DakAmerican National Bank, Sarasota, Fla . . .Corn Belt National Bank, Scotland, S. DakNational Bank of Commerce, Shawnee, Okla .Citizens National Bank, Shelbyville, 111First National Bank, Sheldon, Iowa.. . . .First National Bank, Shenandoah, IowaFirst National Bank, Sidney, Mont.Sioux Falls National Bank, Sioux Falls, S. Dak. .Citizens National Bank, Spencer, IowaFirst National Bank, Spencer, IowaFirst National Bank, Spirit Lake, Iowa. __Spirit Lake National Bank, Spirit Lake, IowaFirst National Bank, Springer, N. MexNew First National Bank in Springfield, Mo
1 Deduction by reason of dividend previously reported as paid but now conceled.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
338 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 46.—Dividends paid to creditors of insolvent national banks duringthe year ended October 81, 1929—Continued
Name and location of bankDate of ap-
pointment ofreceiver
Dividends paid dur-ing the year
Amount Per cent
Totalper centof divi-dendspaid to
creditors
First National Bank, Spring Hope, N. CFirst National Bank, Stanley, N. Dak _Commercial National Bank, Statesville, N. CFirst National Bank, Sterling, ColoLogan County National Bank, Sterling, ColoSterling National Bank, Sterling, ColoFirst National Bank, Stewardson, 111..American National Bank, Stigler, OklaNational State Bank, Stockton, KansStory City National Bank, Story City, Iowa_._First National Bank, Swea City, IowaFirst National Bank, Sylvester, GaFirst National Bank, Tabor, IowaAmerican National Bank, Three Forks, MontFirst National Bank, Toronto, S. Dak__.First National Bank, Torrington, WyoTorrington National Bank, Torrington, WyoFirst National Bank, Townsend, MontFirst National Bank, University Place, NebrFirst National Bank, Veblen, S. DakFarmers National Bank, Wakefield, NebrFirst National Bank, Wapanucka, OklaFirst National Bank, Warren, IndFirst National Bank, Warroad, MinnBlack Hawk National Bank, Waterloo, IowaFirst National Bank, Waubay, S. DakCarlton National Bank, Wauchula, Fla___ _Peoples National Bank, Waukon, IowaFirst National Bank, Wausa, Nebr...First National Bank, Waverly, Va ._.Citizens National Bank, Wayne, NebrFirst National Bank, Wesley, Iowa...National Bank of Wessington Springs, Wessington
Springs, S. DakFirst National Bank, West Alexandria, OhioNational Bank of West Palm Beach, West Palm
Beach, Fla _.First National Bank, Wilder, IdahoCommercial National Bank, Wilmington, N . CFirst National Bank, Wimbledon, N . Dak_First National Bank, Winifred, MontWinner National Bank, Winner, S. Dak _.Citizens National Bank, Woonsocket, R. IFirst National Bank, Woonsocket, S. DakFirst National Bank, Wynot, Nebr
Dividends paid through or by purchasing banks to creditors of in-solvent national banks, assets of which were sold by order of court:
First Exchange National Bank, Coeur d'Alene, IdahoFirst National Bank, Lakeland, FlaFourth National Bank, Macon, GaFirst and Moorhead National Bank, Moorhead, Minn__Exchange National Bank, Spokane, WashFirst National Bank, Toledo, Iowa
$519,162. 00385,909.00
3, 303, 388. 00770,486.00
5,123, 826. 0093, 375. 00
752550508025
752565508065
Total
Total dividends paid by comptroller's checks and purchasingbanks _ __
10,196,146. 00
26, 226,706. 55
i Deduction by reason of dividend previously reported as paid but now canceled.
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REPORT OP THE COMPTROLLER OF THE CURRENCY 339TABLE 47.—Dates of reports of condition of national banks from 1914 to 1929
[For dates of previous calls see report for 1920, vol. 2, Table No. 42, p . 150]
Act of February 25,1863, provided for reports of condition on the first of each quarter, before commence-ment of business.
Act of June 3, 1864—First Monday of January, April, July, and October, before commencement of busi-ness, on form prescribed by comptroller (in addition to reports on first Tuesday of each month show-ing condition at commencement of business in respect to certain items; i. e., loans, specie, deposits, andcirculation).
Act of March 3,1869, not less than five reports per year, on form prescribed by comptroller, at close ofbusiness on any past date by him specified.
Act of December 28,1922, minimum number of calls reduced from five to three per year.Act of February 25, 1927, authorized a vice president or an assistant cashier designated by the board of
directors to verify reports of condition in absence of president and cashier,
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 48.—Condition of foreign branches of National City Bank and Chase National Bank, of New York, N. Y., and First NationalBank of Boston, Mass., on June 29, 1929
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
HabanaHabana (Belascoain)Habana (Cuatro Caminos)Habana (Fraternidad)Habana (Galiano) _Habana (La Lonja)M^anzanilloMatanza-sMoron -Nuevitas - _ -JPalma Soriano*Pinar del RioRemediosSacua La GrandeSancti SpiritusSanta ClaraSantiago de Cuba (Oriente)Vertientes
Dominican Republic:BarahonaLa Vega - - -- --Puerto PlataSan Pedro de MacorisSantiago de los CaballerosSanto Domingo
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TABLE NO. 48. Condition of foreign branches of National City Bank and Chase National Bank, of New York, N. Y., and First NationalBank of Boston, Mass., on June 29, 1929—Continued
RESOURCES—Continued
[In thousands of dollars]
Country and city
CHASE NATIONAL BANK OF NEW YORK, N. Y.
Canal Zone: CristobalCuha: HabanaPanama (Republic of): Panama City
Total
FIRST NATIONAL BANK OF BOSTON, MASS.
Argentina: Buenos AiresCuba: Habana
Total
Loans anddiscounts,includingoverdrafts
and re-discounts
6886,5712,178
9,437
39,1606,171
45,331
Invest-ments
238
238
10,16913
10,182
Customers'liability
on accountof accept-
ances
18
18
863775
1,638
Real estate,furniture,and fix-tures
341
341
270161
431
Cash invault
1482,247
439
2,834
836280
1,116
Due frombranches
172
172
130
130
Due fromhomeoffice
1,975
1,511
3,486
53
53
Due fromotherbanks
168212254
634
8,691383
9,074
Checksand other
cashitems
6
22
28
6036
96
Acceptancesof other banks
arid bills ofexchange ordrafts sold
wi th indorse-ment
5,223
5,223
Otherresources
533
410
468
2,65021
2,671
Aggregateresources
2,9909,4425,224
17, 656
67,9228,023
75,945
•8S
TO
o
o
3o
j
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 48.—Condition of foreign branches of National City Bank and Chase National Banky of New Yorky N. Y., and First NationalBank of Boston, Mass., June 29, 1929—Continued
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 48.—Condition of foreign branches of National City Bank and Chase National Bank, of New York, N, Y., and First NationalBank of Boston, Mass., June 29, 1929—Continued
LIABILITIES—Continued
In thousands of dollars]
Country and city
Cuba—Continued.Cienfuegos _FloridaGnantapaTnoHabana __ __Habana (Belaseoain)Habana (Cuatro Caminos)Habana (Fraternidad) _ _Habana (Oaliano)Habana (La Lonja)MftlWfVnjlloMatanzasMoronNue vitasPalma SorianoPinar del RioRemediesSagua La GrandeSancti SpiritusSanta Clara;- __. _„Santiago de Cuba (Oriente)Vertientes
Dominican Republic:BarahonaLa VegaPuerto PlataSan Pedro de MacorisSantiago de los CaballerosSanto Domingo
Canal Zone* CristobalCuba* HabanaPanama (Republic of): Panama City
Total
FIRST NATIONAL BANK OF BOSTON, MASS.
Argentina: Buenos AiresCuba* Habana
Total
335
500800
464
8,414
3033018
7435
5786391413
42743
654742
34
2,853
297533
137
13559
194
2,134505619
284439
4,6738,064
33936847
1,090520
3,2365
1,244'885
79,982
16
16
94941
275
1,4131,289
2,6517,6832,7574,078
335
3,190
6,7261,298
2866
62,368
4,292
4,292
7,954
7,954•
1934549
77561
589269132220102
2374
23
41117846375273
32,397
44377489
910
15,456418
15,874
1029
25572
20
112
7
535
21
194
3,535
417980
200
156
156
12
812
15
362
56174
34
38270
2, 090
48
12
1398
147
2,7952,611
452
1 2,8352,913
1,0281,4481,318
752678
603i 3,422
1,879
3301 1, 681
1,2612,6154,865
169,879
l 1, 0504,367
i 2, 733
8,150
» 26, 9506,583
33, 533
2,1901,719
854
1,120406
801232491363727
1,2156,335
680
2362, 7561,4571,3811,963
96,916
1,810230
1,881
3,921
6,307
6,307
4321,351
330
280
7,791
1,932
1,932
375
409
266
5,14014926
6,946
192
1,855813
24
69, 331
5,223
5,223
2
225
35
17
33
28, 992
7
7
579699
23161167
384
5
9116
32, 322
18
18
1,107767
1,874
51
2816
1653
1
19
345
14
264
7,153
2, 71925
2,744
s
d
i Includes United States deposits.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
346 BEPOKT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 49.—Number, capital stock paid in, circulation outstanding, and aggre-gate resources of national banks at date of each report from February 21, 1921, toOctober 4, 1929, together with the total amount of money in the United States onJune 30 of each year, and the percentage of national-bank circulation to capital,to assets, and to money in the country.1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 347
TABLE NO. 50.—Abstract of reports of condition of national banks in the centralreserve cities of New York and Chicago, in other reserve cities, and elsewhere, at closeof business October 4, 1929
[In thousands of dollars]
New York(20 banks)i
New Yorkand
Chicago(33 banks)
Otherreserve city
banks(331 banks)
Country-banks(7,109
banks)
Total(7,473
banks)
RESOURCES
Loans and discounts (including redis-counts) _ _
Overdrafts _United States Government securities
qwned_- _Other bonds, stocks, securities, etc., owned.Customers'liability account of acceptances.Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault___Due from banks _Outside checks and other cash itemsRedemption fund and due from United
States Treasurer.Acceptances of other banks and bills of ex-
change or drafts sold with indorsement..Securities borrowedOther resources
Total..
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _.Reserves for dividends, contingencies, etc. .Reserves for interest, taxes, and other ex-
penses accrued and unpaidNational-bank notes outstandingDue to b a n k s 2 . . . _ __.Demand deposits.Time deposits (including postal savings). . .United States deposi ts . . .
Total deposits._Agreements to repurchase United States
Government or other securities soldBills payable and rediscountsAcceptances of other banks and bills of ex-
change or drafts sold with indorsement..Acceptances executed for customersAcceptances executed by other banks for
account of reporting banks.Securities borrowedOther liabilities
Total..
2, 289,3381,491
464,807323,044274, 512
55, 0534,987
289,63821,130
873, 6909,831
1,783
139, 5049
109,436
2,820, 2541,699
499, 579367, 995310, 784
74, 0705,265
353,15226, 532
983, 80510,409
2,093
145,442707
111, 440
5, 282, 8304,501
1, 079,037846,918166, 624258, 61927,412
469, 05793,001
1,120, 42936,833
7,722
42, 55213,17256,441
6,858, 7939,333
1,126, 2582,526,101
7,320413, 73089,007
498, 218227,829865,956
22, 679
23,039
9318,050
28, 692
4, 858, 253 5, 713, 226 9, 505,148 12, 705,936
310, 882381, 025
81, 51114,529
11, 58034, 245
1, 007,8571,979, 668
507, 99529, 702
S, 625,222
41, 290
139, 504269, 951
11,9649
36, 541
359, 932416,37589, 56018,316
17, 31840,335
1,152, 9362, 382,170
639, 69736,160
4,210, 963
50055,209
145, 442305, 828
12, 943707
39, 798
532, 579447,843154,17921,167
38,023151, 501
1, 258, 9953, 621, 8722, 548, 573
111, 7687,541,208
34,148330,935
42, 552167,449
6,50113,17223, 891
778,763651, 023312,134
22, 276
31,134449, 268418,029
4, 563,9705,113, 481
54,34610,149,826
7,042271,428
9316,654
1,1748,050
16,233
4,858, 253 5, 713, 226 9, 505,148 12, 705, 936
14,961,87715,533
2, 704,8743,741,014
484,728746,419121,684
1,320,427347,362
2,970,19069,921
32,854
188,92521,929
196,573
27,924,310
1,671, 2741,515,241
555,87361, 759
86,475641,104
2,829,96010,568,0128,301,751
202,27481,901,997
41,690657,572
188,925479,931
20,61821,92979,922
27,924,310
1 Figures in this column included with New York and Chicago in the next column.2 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
348 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 51.—Abstract of reports of condition of national banks in central reserveand other reserve cities and country banks at date of each call during year endedOctober 31, 1929
DECEMBER 31, 1928
[In thousands of dollars]
Centralreserve
city banks(32 banks)
3,668,1071,403
719,861496,104355,48989,113
1,311496,98135, 551
1,883, 71034, 2901,994
236, 608350
139,083
8,159,955
343, 550434,90595,20831,928
17,67939,399
2,095, 5273,303,998
735, 73728,137
50, 590331, 903
236, 608354,196
12,564350
47, 676
8,159, 955
Otherreserve
city banks(365 banks)
4,982,8683,702
1,148,067983,115164,967242,36332,250
486, 02899,466
1,309,94954,3678,192
91,80910,05247, 945
9,665,140
508,323425, 291142,94423, 585
26,190161, 234
1,494,9193, 788,1582,443,970
111, 321
17,738228,196
91,809160,436
9,78610,05221,188
9,665,140
Countrybanks(7,238
banks)
6,628,6566,533
1,140,7952,639,376
10*849398, 70689,489
513,307253,112991,03427,53023,240
1,34710,07030,017
12,764,061
764,603629, 950253, 52929,847
22,740449, 772
483,1054,688, 5655,127,231
46, 712
6,837225, 210
1,34710,093
89810,07013, 552
12, 764,061
Total\i,OoO
banks)
15,279,63111,638
3,008,7234,118,595
§31,305730,182123,050
1,496,316388,129
4,184,693116,18733,426
329,76420,472
217,045
30, 589,156
1, 616, 4761,490,146
491,68185,360
66,609650,405
4,073,55111, 780* 7218,306,938
186,170
75,165785,309
329,764524,725
23,24820,47282,416
30,589,156
EESOURCES
Loans and discounts (including rediscounts)Overdrafts _ _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned...Reserve with Federal reserve banks _Cash in vautt __.Amount due from banks and trust companiesOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Acceptances of other banks and bills of exchange or
drafts sold with indorsement-Securities borrowedOther assets
Total. _
LIABILITIES
Capital stock paid in _Surplus _ _Undivided profits—net > __„_.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued
and unpaidNational-bank notes outstandingI>ue to banks (including certified and cashiers' checks,
and cash letters of credit and travelers' checks out-standing).-
Demand deposits-.Time deposits (including postal savings)United States depositsAgreements to repurchase United States Government
or other securities sold _Bills payable and rediscountsAcceptances of other banks and bills of exchange or
drafts sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of
reporting banks.._Securities borrowedLiabilities other than those above stated
Tota l - .
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 349
TABLE NO. 51.—Abstract of reports of condition of national banks in central reserveand other reserve cities and country banks at date of each call during year endedOctober SI, 1929—Continued
MARCH 27, 1929
[In thousands of dollars]
Centralreservecity banks(33 banks)
3,110, 7351,169
712,367439,939330,468
78,9403,036
434, 21831, 781
1, 667, 23221, 860
1,994
184, 66915,009
136,003
7,069,420
344,150458, 70592,54326,417
17, 70938,934
1, 834, 2352, 788, 377
587, 54399,891
12,493155, 512
184, 669332,372
12, 26215, 00968,599
7,069,420
Otherreservecity banks(349 banks)
5,042,4413,714
1,212,430923, 847134, 233241, 63433, 456
475, 59195,143
1,043,08633,3878,051
62, 86211,06655,099
9, 376,040
518, 733432, 525154,92522,110
34,439159,203
1,265,9373, 677,0852,425,044
112,012
34,860291,815
62,862134,665
7,21911,06631,540
9, 376, 040
Countrybanks(7,193
banks)
6, 696, 7507,374
1,171,9632, 610, 209
7,785405, 69390,411
494, 719236, 567775,34317,04322, 741
3369,350
30,168
12, 576,452
770, 388637,096291,276
18, 744
28, 552449, 711
398, 2254,469, 5325,154,009
60,990
6,098256, 485
3366,472
1,4379,350
17, 751
12, 576,452
Total(7,575
banks)
14,849,92612,257
3,096,7603,973,995
472,486726, 267126, 903
1,404, 528363,491
3,385, 66172,29032,786
247, 86735,425
221, 270
29,021, 912
1, 633, 2711, 528,326
538, 74467,271
80, 700647,848
3,498,39710,934,9948,166,596
272,893
53,451703,812
247, 867473, 509
20,91835, 425
117,890
29,021,912
KESOURCES
Loans and discounts (including rediscounts)Overdrafts sUnited States Government securities owned.__Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures. _ _Other real estate ownedReserve with Federal reserve banksCash in vault . . . .Amount due from banks and trust companiesOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Acceptances of other banks and bills of exchange or
drafts sold with indorsement _.Securities borrowedOther assets
Total. _
LIABILITIES
Capital stock paid in.. . . . . _Surplus _Undivided profits—net..---._,_._>.-_Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued
and unpaidNational-bank notes outstanding _Due to banks (including certified and cashiers' checks,
and cash letters of credit and travelers' checks out-standing) _ ^.-_
Demand depositsTime deposits (including postal savings)United States deposits. _-_.Agreements to repurchase United States Government
or other securities soldBills payable and rediscounts._ -. .Acceptances of other banks and bills of exchange or
drafts sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of
reporting banksSecurities borrowedLiabilities other than those above stated _.
Total..
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
350 KEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 51.—Abstract of reports of condition of national banks in central reserveand other reserve cities and country banks at date of each call during year endedOctober SI, 1929—Continued
JUNE 29, 1929
[In thousands of dollars]
Central re-serve citybanks (33banks)
Other re-serve citybanks (344
banks)
Country
(7,159banks)
Total (7,636
RESOURCES
Loans and discounts (including rediscounts)Overdrafts.. _ - .United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned.:.Reserve with Federal reserve banksCash in vault.. _Amount due from banks and trust companiesOutside checks and other cash itemsRedemption fund and due from United States Treas-
urer.Acceptances of other banks and bills of exchange or
drafts sold with indorsement __Securities borrowed .Other assets _
Total
LIABILITIES
Capital stock paid in -SurplusUndivided profits—netReserves for dividends, contingencies, etc ._Reserves for interest, taxes, and other expenses accrued
and unpaidNational-bank notes outstanding... _ _Due to banks (including certified and cashiers' checks,
and cash letters of credit and travelers' checks out-standing)
Demand deposits.Time deposits (including postal savings)United States depositsAgreements to repurchase United States Government or
other securities sold _Bills payable and rediscountsAcceptance of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of re-
porting banks -----Securities borrowed _--Liabilities other than those above stated
Total
2,952,0661,595
503,661367,872261,66879,468
441367,37725,935
674,4424,083
2,015
124,3039
116,939
5,115,3553,066
1,156, 801932,920129,867256, 56828,397
482,00079,318
1,089,47742, 288
7,836
40, 20211,81560,195
6,733,7095,532
1,143,3982, 551,883
5,798411,64890,001
495, 574192,750805,17923,724
22,889
3618,362
31,441
5,481,874
326,175391,82576,35119,875
20,82240,124
954,9192,438,307
546,41046,332
3,750180,595
124, 303261,208
8,6759
42,194
9,436,105
527,175443,942139, 77329,322
28,460154,372
1,203,2553,671,6512,635,704
125,890
39, 475223,012
40, 202126,479
8,90011,81526,678
12, 522,249
774,025643,285271,38031,635
24,-686554,956
390,3084,394,3105,134,981
56,021
6,435310,900
3614,936
1,0738,362
14, 595
14,801,13010,193
2,803,8603,852,675
397,333747,684118,839
1,344,951298,003
2,569,09870,095
32,740
164,86620,186
208,575
27,440,228
1,627,3751,479,052
487,50480,832
73,968649,452
2,548,48210,504,2688,317,095
228,243
49,660714,507
164,866
18,64820,18683,467
5,481,874 9,436,105 12,522,249 27,440, 228
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 351
TABLE N O . 51.—Abstract of report of condition of national banks in central reserveand other reserve cities and country banks at date of each call during year endedOctober 81, 1929—Continued
OCTOBER 4, 1929
[In thousands of dollars]
Central re-serve citybanks (33banks)
2,820,2541,699
499,579367,995310, 784
74,0705,265
353,15226, 532
983,80510,409
2,093
145, 442707
111,440
5, 713,226
359,932416,375
89, 56018, 316
17,31840,335
1,152, 9362,382,170
639,69736,160
50055,209
145,442305,828
12,943707
39,798
5, 713, 226
Other re-serve citybanks (331
banks)
6,282,8304, 501
1,079,037846,918166, 624258, 619
27,412469,057
93,0011,120,429
36,833
7,722
42, 55213,17256,441
9, 505,148
532,579447,843154,17921,167
38,023151, 501
1,258,9953,621,8722,548, 573
111, 768
34,148330,935
42,552167,449
6,50113,17223,891
9, 505,148
Countrybanks(7,109
banks)
6,858, 7939,333
1,126,2582, 526,101
7,320413,730
89,007498,218227,829865,956
22/679
23,039
9318,050
28, 692
12, 705,936
778,763651,023312,134
22,276
31,134449, 268418,029
4,563,9705,113,481
54,346
7,042271,428
9316,654
1,1748,050
16,233
12, 705, 936
Total (7,473banks)
14,961,87715,533
2,704,8743,741,014
484, 728746,419121, 684
1,320,427347, 362
2,970,19069,921
32,854
188,92521,929
196,573
27,924,310
1,671,2741,515,241
555,87361,759
86,475641,104
2,829,96010,568,0128,301, 751
202,274
41,690657,572
188,925479,931
20,61821,92979,922
27,924,310
KESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned _ _ _..Reserve with Federal reserve banksCash in vault... _Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treas-
urerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed._ __ _.Other resources
Total
LIABILITIES
Capital stock paid inSurplus - _Undivided profits—netReserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued
and unpaid-__.National-bank notes outstandingDue to banks -Demand depositsTime deposits (including postal savings)United States depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or
drafts sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of re-
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52,—Classification of amounts "due from" and "due to" banks reported by national banks at date of each call during year endedOctober Sly 1929
DECEMBER 31,1928
[In thousands of dollars]
8fcO
Banks in—
CENTRAL RESERVE CITIES
New York ____Chicago
Total Central reserve cities
OTHER RESERVE CITIES
BostonAlbanyBrooklyn and B ronxBuffalo _Philadelphia..PittsburghBaltimoreWashingtonRichmondCharlotte...AtlantaSavannah 9.JacksonvilleBirmingham.New OrleansDallas .El Paso.Fort WorthGalveston...HoustonSan Antonio ___WacoLittle Rock
Items withFederalreserve
banks inprocess ofcollection
157,94824,686
182,634
35,8385,3361,363
42434,96325,06614,2573,6793,476
6465,9422,4371,5802,7641,456
11,6951,2957,706
5176,9441,975
669846
Due frombanks andtrust com-panies inUnitedStates
37,43080, 822
118,252
41,1124,1111,1521,271
51,01022,98511,1668,4423,494
75515,2998,970
11,2205,6852,780
13,5832,967
10,1372,277
13,2797,9022,581
436
Exchangesfor clear-ing houseand otherchecks on
localbanks
1,448,11973,129
1, 621,248
43,325922
2,574712
63,76011,6298,2195,8661,004
3042,6561,9881,018
7953,1895,202
6631,902
8726,7471,399
260162
Balancespayable in
dollarsdue fromforeign
branchesof Ameri-can banks
1
12
714
8
4
Due frombanks andbankers inforeign
countries
54,8436,733
61, 576
14,6922059
1164,909
386157161
4
19
1182899
2320114
Total
1,698,340185,370
1,883,710
134,96710,3895,1482,523
154,64360,06633,79918,1607,9781,705
23,89713,40213,8519,2447,543
30, 5085,024
19,7533,689
27,17511,2903,510
944
Due toFederalreservebanks
(deferredcredits)
2,167
88
1,305
551202
282
Due toother
banks andtrust com-panies inUnitedStates
738,958238,846
977,804
90,22411,1373,148
873149,08577, 57132,24613,65811,000
48418,12714,76314,2267,5469,281
36,7813,221
24,3708,569
30,9868,4412,5411,727
Due tobanks inforeign
countries
241,4374,550
245,987
25,4022256
1013,271
717223239
12
26742
403
216181
Certifiedand
cashiers'checks,
includingdividend
checks out-standing
847,87518,941
866,816
19,397207
1,093681
7,1734,0031,2821,091
752191
2,311814857275289
6,765754
12,020243
4,3981,418
337176
Letters ofcredit andtravelers'checks sold
for cashand out-standing
2,9701,950
4,920
327
8
613,885
127
2611
2
Total
1,831,240264,287
2,095,527
135,35013,5334,3051,655
159,67886,17633,75216,32011,752
67520,43815,57715,0957,8219,837
43,6144,379
36,9429,014
35,60010,0423,1601,903
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
LouisvilleMemphis.. _Nashville.Cincinnati.. _ClevelandColumbusToledo _ _IndianapolisChicagoPeoriaDetroit . .Grand RapidsMilwaukeeMinneapolis _. __St. PaulCedar RapidsDes Moines . _ _DubuqueSioux CityKansas City, Mo __St. Joseph.St. LouisLincoln _OmahaKansas City, KansTopeka -Wichita
DenverPuebloMuskogeeOklahoma CityTulsaSeattleSpokanePortlandLos AngelesOaklandSan FranciscoOgdenSalt Lake City ,.
Total other reserve cities
Total all reserve cities.
6,842548
3,7305,5753,3584,446
2305,267
995506
14, 570628
5,8103,7192,1111,6841,926
173468
10,454424
17,956504
4,144516257
1,220404
4,782
1175,284
7142,9291,6952,4898,068
6,146392
2,193
303, 648
486, 282
8,0885,0137,2247,1647,8766,295
66712, 5346,0982,5258,5112,876
18, 37123,23817,0453,5572,945
8004,410
17, 7674,733
21,9922,836
16,0001,7013,1275,9771,036
16,7359,7941,826
15,19015,75917,8893,297
11, 37739,1903,815
43,8972,3514,479
648, 619
766,871
1,908666
1,2762,9402,8601,919
2022,5351,256
67311,0761,1695,5197,6032,694
516923109693
4,864487
11,852609
4,021183596
1,28978
4,024192149
1,3052,2906,548
8944,468
14,332973
48,924535
1,175
321, 492
1, 842, 740
4
1
1
3
1,027
21
1
1,104
1,104
1131768
1068
83749
177645485
21
577
1
50
35730143432
1, 544
7,843
1
35,086
96,662
16,8426,227
12,23015,69014,41212,7281,099
20,4428,3583,704
34,9964,722
29,87735,20522,3355,7575,7941,0825,571
33; 1065,644
53,4043,949
24,1662,4003,9808,4861,518
25, 5919,9862,092
21,77918,79828,1176,029
18, 76663,1354,788
106, 8103,2787,848
1, 309,949
3,193,659
61,511
3021,229
1,220
152
9,015
9, 015
26,9416,212
12,44013, 3416,080
12,0521,321
20,9671,2604,512
23,1913,340
29,82349,58725,97710,4599,108
8488,060
52,0099,529
67,7207,276
30,6713,7743,144
10,1902,281
20,2355,8501,949
25,20826, 87117, 8175,316
13,54033, 3465,650
71,7324,7938,961
1, 263, 386
2, 241,180
2122238
551
1,021
87690185
2
256
61
85148
5392,121
5,886
43, 236
289, 223
894284551
3,6099,0062,114
149747
1,492324
3,493147
1,4273,4051,159
27265784
6915,194
2325,932
1991,445
9597
722145
2,575351
1,0455,3565,2202,439
5611,370
10,8631,175
31,80853
378
174, 287
1, 041,103
35
153
541
5819
8791
251
15
8
207
5171
212
4, 995
9,915
27,8356,496
12,99116 97415,31915,7151 772
23,0132,7564,836
27, 7593 488
32,61553,68327, 33010,7319,765
9328 838
57,2149,762
73,9337,476
32,1313 8693,241
10 9122,426
22,8796,2012,994
30 56432, 24321,1275,932
15,50046', 4016,825
109,6384,8469,339
1, 494, 919
3, 590,446
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52.—Classification of amounts "due from" and "due to" banks reported by national banks at date of each call during year endedOctober 81, 1929—ContinuedDECEMBER 31,1928—Continued
North Dakota _ .South DakotaNebraskaKansas _ _ _M^ontanaWyomingColoradoNew Mexico.Oklahoma
Total Western States.— _
WashingtonOregonCaliforniaIdahoUtahNevadaArizona
Total Pacific States
Alaska (nonmember banks)The Territory of Hawaii (nonmember
banks)
Total (nonmember banks)
Total country banks..
Total United States
2,2153,0174,735
489709683
1,399159
13,406
95273
8207324
7176120290
1,500
989
1,208667
10855
2,145
90,804
577,086
33,22724,08737,96916,07621,65825,50822,16011, 537
192, 222
9,7059,6619,336
24,67411,7256,097
13,6914,889
35,592
125,370
11, 5349,081
34,0337,077
9113,2643,850
69,750
620
776
1,396
816,494
1,583,365
5,6393,4673,735
• 2,4862,3491,6671,151
743
21,237
417364530851596238630226
1,466
5,318
1,230373
3,4195302741
676
6,296
12
481
493
81, 613
1,924,353
8628
3
25
142
50
4
54
260
1,364
202
5152
20828
361
29
1544
8
176
272
133
371
22
193
4
18
22
1,863
98, 525
41,18730,60146,49319,10324,71628,09124,73812,439
227,368
10,24610,2989,874
25,74712,6896,342
14,5055,235
37,524
132,460
13,0459,463
38,7018,275
9383,4134,603
78,438
636
1,275
1,911
991,034
4,184,693
753506203456
21
1,390
205
5367
325
30
482195
14226
875
31, 733
40,748
6,92215,75421,5344,8488,869
14,18910,0727,420
89, 608
4,1464,6894,4708,5033,5893 6771,9681,4368,500
40,978
2,8301 431
13,1223,376
1252 2611,035
24,180
12
1,111
1,123
355, 701
2, 596,891
4
5
157
166
1031
9
50
123
65
143
331
3
3
1,831
291, 054
6,7912,2453,2962,0071,9462,2821,820
537
20,924
756822639
1,600726394
1,138661
5,859
12, 595
1,449715
7,46460696
152618
11,100
47
272
319
93,411
1,134,514
225
3428214
114
12117
313
37
427
31
429
10,344
14,49218 51024,8846,922
10,89216,63211,9137,957
112,202
4 9J25,5425,121
10,3194,3314 0713,1092 151
14,429
53,985
4,4322,150
21,1604 177
2212 5551,822
36, 517
59
1,386
1,445
483,105
4, 073, 551
3o
00OxOx
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52,—Classification of amounts "due from" and udue to" banks reported by national banks at date of each call during year endedOctober 31, 1929—Continued
CO
MAECH 27, 1929
[In thousands of dollars]
Banks in—
Items withFederalreserve
banks inprocess ofcollection
Due frombanks andtrust com-panies inUnitedStates
Exchangesfor clear-
ing houseand otherchecks on
localbanks
Balancespayable in
dollarsdue fromforeign
branchesof Ameri-can banks
Due frombanks andbankers in
foreigncountries
Total
Due toFederalreservebanks
(deferredcredits)
Due toother
banks andtrust com-panies inUnitedStates
Due tobanks inforeign
countries
Certifiedand
cashiers*checks,
includingdividend
checks out-standing
Letters ofcredit andtravelers'
checks soldfor cashand out-standing
Total
CENTRAL RESERVE CITIES
New York
Chicago
Total central reserve cities.
OTHER RESERVE CITIES
Boston___AlbanyBrooklyn and BronxBuffalo.— -Philadelphia-_ __PittsburghBaltimore ---Washington..-RichmondCharlotteAtlantaSavannah..JacksonvilleBirminghamNew OrleansDallas _El Paso.-yort WorthGalvestonHouston...San AntonioWaebtittle Rock _ _
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52,—Classification of amounts 'due from" and udue to" banks reported by national banks at date of each call during year ended COOctober SI, 1929—Continued §J
MARCH 27,1929—Continued[In thousands of dollars]
Banks in—
COUNTRY BANKS
Maine . .-New HampshireVermontMassachusetts.,Rhode IslandC onnecticut
Total New England States.-_
New YorkNew JerseyPennsylvania . . .DelawareMaryland .
Washington . _ ._OregonCaliforniaIdaho . _ _ -_UtahNevadaArizona _
Total Pacific States _
Alaska (nonmember banks)The Territory of Hawaii (nonmember
banks).
Total (nonmember banks)
Total country banks.-
Total United States
1,2482,5284,801
950825535
1,410253
12, 550
12122271
133238
873
107254
1,227
119132
1,239246
5965
1,860
77, 953
525, 681
30, 73418,32533,46615,92822,38821,32418,4688,423
169, 056
7,2786,946
10,10619,5938,3534,095
10,6153,127
25, 358
95,471
12,9576,547
21, 5054, 507
6942,2483,417
51,875
611634
1,245
652, 998
1, 289, 970
2,6361,8602,1491,4791,254
709734494
11,315
29523535437928914835397
635
2,785
972196
1,764142
1423
353
3,464
3109
112
41,249
1,473,173
32
32
105
105
327
992
4533
74
2337
365
38
729
1278
158
367^
157
441
90
292
324
27
2,816
95,845
34,66322, 71640,41918,43124,46722,80120,6199,170
193, 286
7,7327,403
10, 53120,1448,9094,378
11,0493,331
26,405
99, 882
14, 2056,875
24,6574,896
7082,3303,925
57, 596
617767
1,384
775, 343
3, 385,661
540323
1660
260
53
1,207
2
3717
56
27
30172
63
463
28,805
39,689
7,54313,02121,1955,475
11,12811,4799,7556,829
86,425
3,4124,0575, 2179,0362,8142,4721,6801,0746,303
36,065
3,3011,031
10,3191,898
1,481768
18,853
12696
708
304, 796
2,178, 005
18910
199
7
5
9
14
35
104
68
318
490
4
4
1,800
236,150
% 6561,8922, 5781 2881,2721,9431,732
637
13, 998
726663581
1,154677289
1,169401
2,767
8,427
1,035584
3,24323858
136481
5,775
6525
90
62, 380
1,032, 694
13345
2620
188
166
16
5
8
51
233
35
5
5
444
11,859
10, 87215, 24023, 7946 849
12, 68013, 61111 5027,469
102, 017
4 1454 7205,819
10 1963,5182,7612,8681 5129,095
44, 634
4. 4671 617
13, 9642, 208
1131,6801,567
25, 616
77730
807
398,225
3, 498,397
CO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52.—-Classification of amounts "due from" and "due to" banks reported by national banks at date of each call during year endedOctober 81,1929—Continued
JUNE 29, 1929
[In thousands of dollars]
CO
Banks in—
CENTRAL RESERVE CITIES
New YorkChicago
Total central reserve cities
OTHER RESERVE CITIES
BostonAlbanyBrooklyn and BronxBuffaloPhiladelphia- _PittsburghBaltimore.WashingtonRichmond. __CharlotteAtlantaSavannahJacksonvilleBirminghamNew Orleans .DallasEl Paso.Fort Worth __GalvestonHouston.San AntonioWacoLittle Rock . . .
Items withFederalreserve
banks inprocess ofcollection
93,82318,624
112,447
31,9065,558
76079
26,06221,92810,8632,5983,364
4314,3582,2422,0982,169
8648,087
8705,434
3675,7931,405
310249
Due frombanks andtrust com-panies inUnitedStates
23,96461,896
85,860
29,5944,116
78775
46,02019,78712,1178,8512,414
8388,3567,7897,3494,8192,338
12,5672,6478,7732,204
15,0516,0821,034
300
Exchangesfor clear-
ing houseand otherchecks on
localbanks
403,63030,259
433,889
19,67214,966
462140
41,2488,0184,6754,968
684233
1,6241,276
704569
1,4761,685
2651,699
3164,190
977128125
Balancespayable in
dollarsdue fromforeign
branchesof Ameri-can banks
18
1
8
22
4
Due frombanks andbankers in
foreigncountries
38,2593,987
42,246
9,113
I"3,708
816129521
5
14110762
10123
4
Total
559,676114,766
674,442
90,28524,6682,027
295117,03950,54927,78416,4776,4631,502
14,33811,30710,1787,5574,819
22,3493,858
15,9082,897
25,1618,4681,472
674
Due toFederalreservebanks
(deferredcredits)
2,155
118
1,309
210
506156
138
Due toother
banks andtrust com-panies inUnitedStates
471,824129,692
601,516
86,8099,424
279
134,39369,75729,60711,2067,706
53512,33610,04513,0363,7396,833
19,0472,026
15,9813,807
19,3025,7201,184
808
Due tobanks inforeign
countries
163,3123,018
166,330
17,10818
3,317787252228
412
19535
426
155134
Certifiedand
cashiers*checks,
includingdividend
checks out-standing
171,3518,115
179,466
11,31057732484
3,5652,139
752896217132753180520182276
2,705890
1,42963
2,218655168233
Letters ofcredit andtravelers'
checks soldfor cashand out-standing
6,1921,415
7,607
800
2
1226,340
292
5
5122
1
404
Total
812,679142,240
954,919
116,02712, i74
60584
141,51579,02330,61313,7317,923
66713,08910,22913,5734,1317,304
21,8383,364
17,9174,026
21,7156,5131,4901,041
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Chicago - - . . . *Peoria _ -_Detroit-.Grand RapidsMilwaukeeMinneapolis _ -St. PauL . . .Cedar RapidsDes MoinesDubuque__ --Sioux CityKansas City, MoSt. JosephSt. LouisLincoln __OmahaKansas City KansTopekaWichitaBelena -DenverPuebloMuskogeeOklahoma CityTulsaSeattle -SpokanePortland - -Los AngelesOaklandSan FranciscoOgdenSalt Lake City.
Total other reserve cities
Total all reserve cities
4,378585
3,0944,3532,6083,159
4364,116
563473
16,038488
4,8163,2201,5441,2012,231
210479
8,977306
10,060442
3,807460229892468
4,333
844, 702
4012,382
9702,4389,017
7,326114
1,942
251,137
363,584
7,1862,1476,2996,5022,9256,536
6949,2025,1432,101
10,0121,889
15,80021,82214,9583,2933,199
6154,223
14,7744,733
15,5333,145
15,0781,1215,1495,105
97114,7683,4411,432
12,78114,55720,3893,022
10,18848,3892,821
57,189687
4,654
588,381
674,241
1,615407823
1,6711,3441,334
1531,914
698629
8,291638
3,3766,0351,089
3161,012
111371
3,350458
5,700437
2,005209281
1,03975
2,67611164
1,3041,2593,687
5813,4919,7441,062
36,916108
1,295
217,779
651,668
8
30163
3
24
15
296
296
18567121
14444
1,48320
234764574
40
199
5
109
71196
6091,392
10, 534
1
31,884
74,130
13,1873,139
10,21612 5447 444
11,1501,283
15,3766,4483,203
35,8243,035
24,22631,87118,3284,8106,442
9365 073
27,1445,497
31,5164,024
20,8951,7905,6597,0361,514
21,8863,5521,580
18,78716,21727,1844,669
16,72668,5423,883
111,965909
7,892
1,089,477
1,763,919
1,618307
1,020
1,832
1
9,370
9,370
17,0392,9449,509
11 2676,602
10,1441,121
15,218862
3,41920,998
1,63929,15241,49419,3589,0939,987
7668,816
43,3929,070
43,4229,051
29,3762,7803,1217,7191,710
14,6782,293
94417,21614,39620,3845,232
13,10031,3945,043
83,3803,1458,183
1, 052,037
1, 653, 553
25229
59
482
958
322773300
10
12
323
59
9883
4661,414
5,683
34, 345
200, 675
4 194128
1,12488485988811
9171,218
4822,919
65963
4,9961,084
1650 9 0
91960
1,869142
3,240332
1,198413131876267
1,959110339
2,3051,6841,698
4991,5248,6021,101
15,67933
297
97,337
276,803
16
32
2313
80
504319
162
261044
14
1826
21366
51,870
10,166
17, 773
21,2333,072
10, 63312 1777 696
12, 7411,439
17 2262,0953,901
24,9551 704
32,31947 30620,7619,258
10,810867
9 77745,2899,214
47,0119,393
30,6183 1933,2528,5951,977
16,7102,4031 283
19,52116,09823,0965,734
15,11141,7766,149
106,6123,1788,480
1,203,255
2,158,174
CO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NO. 52.—Classification of amounts " due from" and "due to" banks reported by national banks at date of each call during year endedOctober 8J, 1929—Continued
JUNE 29,1929—Continued
[In thousands of dollars]
00to
Banks in—
COUNTRY BANKS
Maine -New HampshireVermontMassachusettsRhode IslandConnecticut
Total New England States
New York . _ .New JerseyPennsylvania _ _ _DelawareMaryland - -
Alaska (nonmember banks) .The Territory of Hawaii (nonmember
banks)
Total (nrmmp.mhfir b^nks)
Total country banks
Total United States
1,2122,6794,984
679813418
1,379323
12,487
14223373
185382
66470
217
1,372
36358
1,111151
3825
1,746
80,300
443,884
28,40719,14636,69215,81020,89724,69218,06010,270
173,974
7,0148,228
10,26720,7848,6254,6218,8863,282
24,212
95,919
11,8737,728
27,5725,205
5712,8052,676
58,430
630
545
1,175
659,115
1,333,356
4,1804,3123,7762,2511,8311,113
904907
19,174
283413360836325159509149
1,047
4,081
952321
2,6211962166
392
4,569
4
721
725
63, 243
714,911
41
49367
31
128
23
23
23
23
187
483
3733
58
26935
405
28~
749
7
140
231
177
532
218
450
3
15
18
2,334
76,464
33,84026,04145,45518,84723,57726,49920,37811,531
206,168
7,4678,874
10,70021,8129,3814,7869,4663,501
25,639
101,626
13,3658,107
31,3805,554
5922,9093,311
65,218
637
1,281
1,918
805,179
2,569,098
945354454746
81
1,518
1
3432
67
33
35591
1310
502
27,497
36,867
6,80613,62322,2985,0029,275
10,6679,0276,395
83,093
2,5293,4064,8517,9282,4112,2771,248
9065,158
30, 714
3,0061,165
13,9361,542
771,796
877
22,399
6
931
937
281,814
1,935,367
1
3
27203
234
6% 574
232150219
44
1,225
24316
125
375
4
4
3,023
203,698
3,5482,6833,6511,8601,7862,3901 003
784
17,705
630673506
1,448749322930434
2,877
8,569
1,335726
4,56641357
350396
7,843
62
35
97
77,450
354,253
28
1046
6
72
4311341445
3
114
337
2
42
5
5
624
18,297
11,30016,66226,0056,919
11,18013,26010, 1117,185
102,622
3,1654,6965,6009,5603 3942,6032,1831,3748,114
40,689
4,6171,895
18,9002,046
1342,1591,410
31,161
68
975
1,043
390,308
2,548,482
4
CO
CO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52.—Classification of amounts "due from" and "due to" banks re-ported by national banks at date of each call during year endedOctober 31, 1929—Continued
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Memphis _ __NashvilleCincinnatiCleveland _ « _ _
Toledo - .
ChicagoPeoriaDetroitGrand KapidsMilwaukeeMinneapolis -St. PaulCedar RapidsDes MoinesDubuqueSioux CityKansas City, MoSt JosephSt LouisLincolnOmahaKansas City, KansTopekaWichitaHelenaDenver > _PuebloIVtuskoceeOklahoma CityTulsaSeattleSpokanePortlandLos AnselesOaklandSan FranciscoOgdenSalt Lake City -
Total other reserve cities
Total all reserve cities
2,2114,1414,9792,7425,210
1914,348
895513
12,519518
5,0024,2791,9171,517
943305469
11,063362
13,666836
4,529598612
1,527626
7,006
1445,553
5092,9001,4343,160
10,723
6,527159
2,140
278,049
466, 566
12,6657,2035,1663,4059,255
5536,8705,4281,9057,5962,493
17,37325,54614,3413,1775,983
6444,086
17,3104,874
16,1973,607
18,0821,2332,2764,8861,357
14,5174,3841,359
14,59213,62415,8393,2969,993
41,2442,393
43,553943
4,429
602,712
696,072
1,419804
1,8081,4441,137
3501,452
80S617
7,795540
3,3447,2731,369
34470784
6803,254
3944,451
3932,638
21727060151
3,90010681
1,389919
3,820366
3,0189,467
45531,930
143920
213,079
878,749
45260
17
20
10
453
453
22
17832129
1232
1,2984
22883852918
23
294
4
205
74599
8781,008
7,051
2
26,136
62,394
16,31712,14811,9698,423
15,7311,094
12,7937,1333,035
29,2083,555
25,94737,98118,4165,0567,6331,0335,235
31,6505,630
34,6354,836
25,2532,0483,1587,0142,034
25,6284,4901,584
21,53415,05223,3245,195
17,04962,4422,848
89,0711,2457,491
1,120,429
2,104,234
1,597292
1,157
1,350
6,962
6,962
13,2299,008
11,4857,254
11,1811,097
14,495854
3,73620,3252,020
32,52548,85921,3579,688
10,117761
8,02748,7768,984
41,3479,247
32,6663,6793,7789,0232,432
17,4933,1181,146
20,95814,48019,1215,324
14,82930,4724,502
65,3173,3749,224
1,120,167
1,662,395
47282
42
495
1,084
167863601
1
3
329
59
9054
4001,431
4,174
33,814
202,316
343403864
1,6946043j3
8891,518
2533,054
31734
4,611723117932
53395
2,042130
2,402274
1,594109131424131
1,384221134
1,2831,3861,775
4221,2137,373
35813,858
43279
91,581
528,8521 HI"
46
77
42
204717
547
2257
8
1128
26200
91,203
6,471
11,406
13,5729,411
12,4009,236
13,4241,422
16,5972,3843,989
24,6052,051
34,79654,38022,698
9,80511,049
8158,422
50,8269,118
44,0859,543
34,3173,7883,9099,4472,563
18,9443,3391,280
22,24115,87721,8295,750
16, 46839, 4764,869
84,5523,4179,503
1,258,995
2,411,931
CO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 52.—Classification of amounts "due from" and "due to" banks reported by national banks at date of each call during year endedOctober 31, 1929—Continued
OCTOBER 4,1929-—Continued
[In thousands of dollars]
CO
Banks in—
COUNTRY BANKS
Maine _•__•__New HampshireVermont __ . .MassachusettsRhode IslandConnecticut
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GalvestonHoustonSan Antonio .WacoLdttle Rocklouisville _Memphisl^ashvilleCincinnati _ClevelandColumbusToledoIndianapolisChicagoPeoriaDetroitGrand RapidsMilwaukeeMinneapolis _St PaulCedar RapidsDes MoinesDubuqueSioux City_Kansas City, MoSt. JosephSt. Louis.._Lincoln..OmahaKansas City, KansTopekaWichitaHelenaDenverPuebloMuskogeeOklahoma CityTulsa...SeattleSpokanePortland2x>s AngelesOaklandSan FranciscoOgdenSalt Lake City
* Represents only deposits evidenced by savings pass books, and does not include Christmas savings accounts, etc.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 53.—Classification of demand and time deposits in national banks at date of each call during year ended October 31, 1929—Con. COJUNE 29, 1929—Continued 00
M in neapolisSt PaulCedar RapidsDes MoinesDubuqueSioux CityKansas City, MoSt. JosephSt. LouisLincolnOmaha _Kansas City, KansTopekaWichita. __HelenaDenverPuebloMuskogeeOklahoma CityTulsaSeattle.SpokanePortlandLos AngelesOaklandSan Francisco _ -.OgdenSalt Lake City._
i Represents only deposits evidenced by savings pass books, and does not include Christmas savings accounts, etc.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 53.—Classification of demand and time deposits in national banks at date of each call during year ended October 81, 1929—Con.OCTOBER 4, 1929—Continued
[In thousands of dollars]
Banks in—
COUNTRY BANKS
Maine _New HampshireVermontMassachusetts __Rhode Island-..Connecticut. . .
Total New England States...
New YorkNew JerseyPennsylvania __DelawareMaryland -
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 387TABLE NO. 54.—Classification of bills payable and rediscounts of national banks
at date of each call during year ended October 31, 1929—ContinuedMARCH 27, 1929—Continued
[In thousands of dollars]
Banks in—
OTHER RESERVE CITIES—COn.
St PaulCedar RapidsDes MoinesDubuoueSioux CityKansas City, MoSt JosephSt LouisLincolnOmahaKansas City, KansTopekaWichitaHelenaDenverPueblo - . _MuskogeeOklahoma City _TulsaSeattleSpokanePortlandLos AngelesOaklandSan FranciscoOgdenSalt Lake City
Total other reserve cities.Total all reserve cities
79003°—30Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
392 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 54.—Classification of bills payable and rediscounts of national banksat dale of each call during year ended October 31, 1929—Continued
OCTOBER 4, 1929—Continued
[In thousands of dollars]
Banks in—
OTHER RESERVE CITIES—COn.
MinneapolisSt PaulCedar RapidsDes MoinesDubuqueSioux CityKansas City, MoSt. JosephSt. LouisLincolnOmaha.Kansas City, KansTopekaWichitaHelenaDenverPuebloMuskogeeOklahoma CityTulsaSeattleSpokanePortlandLos AngelesOaklandSan FranciscoOgdenSalt Lake City
Total other reserve cities
Total all reserve cities.
COUNTRY BANKS
MaineNew HampshireVermontMassachusettsRhode Island __.Connecticut
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
398 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 56.—Gold and silver coin, certificates, legal tenders, and other currencyheld by national banks at date of each report from February 21, 1921, to October4, 1929
[For prior years see annual report, 1920][In thousands of dollars]
DateGoldcoin
GoldTreas-ury
certifi-cates
Clearing-housecertifi-cates-(sec.5192)
Silver- dollars
SilverTreas-ury
certifi-cates
Frac-tionalsilvercoin i
Legaltendernotes
Papercur-
rency 2
Totallawfulmoney
1921Feb. 21Apr. 28June 30Sept. 6.Dec. 31
1922Mar. 10May 5June 30Sept. 15Dec. 29
1923Apr.3June 30Sept. 14Dec. 31
1924Mar. 31June 30Oct. 10Dec. 31
1925Apr. 6June 30Sept. 28Dec. 31
1926Apr. 12June 30Dec. 31
1927Mar. 23June 30Oct. 10Dec. 31
1928Feb. 28June 30Oct. 3Dec. 31
1929Mar. 27June 29Oct. 4
21, 74521, 43321,18320,81919,360
20, 34720,85120,43820, 76219, 054
19, 99519,81120, 07018,169
19,12119, 25319, 67819, 368
19, 24618, 85719,60018, 212
18,32817,86917,237
17,47017,12117, 52316,997
17, 21616, 63716, 87716,574
16,10515, 23715, 572
()22,95119, 33317,389
17,01317, 52018, 35917, 26915,044
16,90319,30820,42223, 787
27,09537,48437, 28841, 787
35,88052,904
()54,155
(3)
()47, 629
()39, 76639,27743,509
39,15935,66932, 612
2512
57
108
1825655
5
50
* 43,880* 43, 735
9,099« 36, 790< 36,949
4 36,182* 35,153
7,771« 34, 341< 37, 265
* 34,8686,910
* 35,975* 39, 002
35,6297,254
* 35,2934 40,123
* 35, 3347,919
187
i 40,449
1 36,0167,129
1 38,166
* 37, 5926,833
< 36,9204 39, 283
54 5,798
24,195(3)
()23, 012
(3)
()23,004
()26, 662
()28, 666
8()
30,457(3)
30,125(3)
()25,013
31,331(4)
()27,114
()
()25, 598
828, 277
(4)
29, 640
()29, 724
(4)
()30, 723
()28,291
826,957
(3)
824, 421
(3)
21, 27
8()
23, 879
8
()26, 740
()()
27, 276
8
332,138337, 035238, 561280,801268,104
262, 498
205,061259, 572320, 369
287,199175,149284,963305,465
261,119202, 372267, 776308, 238
271, 203196, 093305, 742331,455
313, 229193, 778297, 306
318, 843204, 310320,808305, 096
314, 630177,824
8 308,127"328,046
308, 227247,097
5299,178
397, 773402,223374, 349357, 798341,811
336, 065334,504326,181331,951391, 840
359,147291,108361,485386,428
345, 219360,101409, 566
361, 671359,605362, 341390,116
367, 573359, 951352, 709
373,905364, 204375, 251361, 376
370, 228315,113364, 281388,129
363, 491298, 003347, 362
1 Includes minor coin.2 Includes all United States paper currency and bank notes except on the dates when shown under the
respective headings.3 Included with paper currency on these dates.4 Fractional silver and minor coin included with silver dollars on these dates.* Includes all cash in vault other than gold coin and gold certificates.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 399
TABLE NO. 57.—Gold, etc., held by national bomks in the central reserve city of NewYork at date of each report from February 21, 1921, to October 4> 1929
[In thousands of dollars]
Bate Goldcoin
GoldTreasury
certifi-
GoldTreasury
certifi-cates
payableto order
Clearing-housecertifi-cates(sec.5192)
Silverdollars
SilverTreasury
certifi-
Frac-tionalsilvercoin
Papercur-
rencyTotal
1921Feb. 21Apr. 28June 30.Sept. 6Dec. 31
1922Mar. 10.May 5June 30Sept. 15Dec. 29
1923Apr. 3June 30Sept. 14Dec. 31
1924Mar. 31June 30Oct. 10Dec. 31
1925Apr. 6June 30_Sept. 28Dec. 31
1926Apr. 12June 30Dec. 31
1927Mar. 23June 30Oct. 10Dec. 31
1928Feb. 28June 30Oct. 3Dec. 31
1929Mar. 27June 29Oct. 4
1,1411,1031, 053
945934
942999764729936
642614621
471429
755
535424703767
413358732
365355477877
437336290875
404300308
0)0)
12. 50310, 3598,763
8,6778,6538,5768,1065,003
7,218
6,3836,401
6,7578,2828,9227,507
7,357
80)6,139
0)C1)5, 5510)0)
C1)5,4374, 9705,896
5,4385,1974,227
2 2, 0692 2, 537
172 1, 5162 1, 791
2 1, 7892 1, 825
182 1, 7012 1, 801
2 1,42011
2 1, 6062 1, 495
2 1, 3817
2 1, 4792 1, 962
2 1, 5728
2 1, 5742 1, 615
2 1, 57816
2 1, 770
2 1, 68510
2 1, 6102 1, 744
2 1,70423
0)0)5,773
0)(980)
0)2,638
0)(00)2,685
0)2,0750)0)
0)2, 513
0)0)2,2230)0)
2,368
1,758
1,690
1,314
1, 570
1, 532
1,813
1,664
47,11952, 71031, 98933,19433,424
33, 09131,44225, 53928, 06831, 214
23, 90114, 79319,10921, 834
19,61815,09219, 45025, 369
21,91016, 71525, 58228, 732
27, 43317,11121,823
22,56416, 95425, 34123, 222
23,05413,128
* 19, 4854 21, 393
4 20, 872* 15, 498i 16, 595
50, 32956, 35053,09346, 01444,912
44, 49942, 91940, 35138, 60438,954
33,18125, 69827, 71930, 419
28,22728,07030, 27735, 593
30, 88928,11527,85931,114
29, 42428, 01724,325
24, 61426, 93127, 42825,843
25,19522,95624, 74528,164
26, 71420,99521,130
1 Included with paper currency.2 Includes fractional silver and minor coin.3Included with gold Treasury certificates.4 Includes all cash in vault other than gold coin and gold certificates.
NOTE.—Beginning with reports for Sept. 11,1917, national bank notes, legal tender notes, Federal reservenotes, and Federal reserve bank notes not included in previous classification of specie, are now includedin paper currency and total.
Paper currency includes all United States paper currency and bank notes except on the dates whenshown under the respective headings.
Fractional silver coin includes minor coin.
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TABLE NO. 58.—Reserve computation of national banks at date of each call during year ended October 31, 1929
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LouisvilleMemphisNashvilleCincinnatiClevelandColumbusToledoIndianapolisChicagoPeoriaDetroitGrand KapidsMilwaukeeMinneapolisSt. PaulCedar RapidsDes MoinesDubuqueSioux CityKansas City, Mo...St. JosephSt. LouisLincoln ,_OmahaKansas City, Kans.TopekaWichitaHelenaDenverPuebloMuskogeeOklahoma CityTulsaSeattle "SpokanePortlandLos AngelesOaklandSan FranciscoOgdenSalt Lake City
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TABLE NO. 58.—Reserve computation of national banks at dale of each call during year ended October 81, 1929—Continued
JUNE 29, 1929
[In thousands of dollars]
Banks in—
CENTRAL RESERVE CITIES
New York..Chicago
Total central reserve cities..
OTHER RESERVE CITIES
Boston _.AlbanyBrooklyn and Bronx..BuffaloPhiladelphia—.Pit tsburgh.- .BaltimoreWashingtonBichmondCharlotteAtlantaSavannahJacksonvilleBirminghamNew OrleansD l l
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MemphisNashvilleCincinnatiClevelandColumbus, _Toledo__Indianapolis. _ _ChicagoFeoria __DetroitGrantl RapidsMilwaukeeMinneapolisSt. Paul . .Cedar RapidsDes MoinesDubuqueSioux CityKansas City, M o . . .St, JosephSt. LouisLincoln . . .OmahaKansas City, Kans.TopekaWichitaHelena __Denver—PuebloMuskogee... _.Oklahoma C ityTulsaSeattle
PortlandLos AngelesOaklandSan Francisco ._OgdenSalt Lake City.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Iowa - . .Missouri ._ _ _ _ ._
Total Middle Western States...
North DakotaSouth DakotaNebraska.. -KansasMontanaWyoming - _ -.ColoradoNew MexicoOklahoma ._ -
Total Western States
WashingtonOregonCalifornia _ _ _ _ _ _I d a h o - •__ _ _ _ _ _ _Utah .NevadaArizona _
Total Pacific States
Alaska (nonmember banks)The Territory of Hawaii (nonmember bank)
Total (nonmember banks)—. _ ___
Total country banks _
Total United States
93, 50253,947
1, Oil, 242
39,49837,65144,982
101,93442,29920,51552,25221,146
121,803
482,080
76,18448,953
151, 24923,0593,5939,460
17,449
329,947
2,75111,133
13,884
4, 563,970
10, 568,012
1,6631,751
20, .509
154442
1,3181,748
30195
1511
1,256
5,169
19796
3,7586959
225
4,404
15461
476
60,836
595, 486
95,16555, 698
1,031,751
39,65238,09346, 300
103, 68242, 32920,71052, 26721,157
123, 059
487, 249
76, 38149,049
155, 00723,1283,6529,685
17,449
334, 351
2,76611, 594
14, 360
4, 624.806
11,163,498
96, 83438, 940
1,189, 447
38,86329,71635,08643,16436,34313, 70135,9158,233
45,296
286, 317
57, 72231, 278
119,43316, 2525,0818,579
10, 999
249, 344
1,93312, 289
14, 222
5,113. 481
8, 301, 751
191, 99994, 638
2, 221,198
78, 51567, 80981,386
146, 84678,67234,41188,18229,390
168, 355
773, 566
134,10380, 327
274, 44039, 3808,733
18, 26428,448
583, 695
4 4, 699* 23, 883
4 28, 582
9, 738, 287
19, 465, 249
9,5675,067
107,906
3,9413, 5584,2948,5534,0531,8614,7361,7289,973
42,697
7,0784,372
14,4342,107
408935
1,551
30, 885
7033,516
4,219
479, 928
1, 308, 485
10,1635,397
112, 667
4,4123,8204,6149,2894,2022,0275,0901, 861
10,800
46,115
7,3964,539
15, 3342,083
430980
1,525
32,287
« 1, 274« 4, 985
« 6, 259
504, 477
1, 326, 686
596330
4,761
471262320736149166354133827
3,418
318167900
- 2 42245
—26
1,402
5711,469
2,040
24,549
18,201
4.985.35
4.86
5.025.255.285.825.155.415.375.885.92
5.52
5.285.445.265.354.675.125.45
5.29
15.0015.00
14.76
4.93
6.72
1 Exclusive also of certified, cashiers' and dividend checks outstanding, and of letters of credit and travelers' checks sold for cash and outstanding.2 Combined excess of amounts due to banks over amounts due from banks as shown by individual bank reports. When for a given bank amounts due from banks exceed
amounts due to banks, the excess due from can not be deducted in determining deposits on which reserves are computed, and for this reason amounts in this column do not agreewith the difference between aggregate amounts due to banks and due from banks. In this calculation the amounts due to banks include due to Federal reserve banks, bankers,and trust companies, certified ,cashiers\ and dividend checks outstanding, and letters of credit and travelers' checks sold for cash and outstanding; while amounts due from banksinclude items with Federal reserve banks in process of collection, amounts due from banks, bankers, and trust companies in United States, balances payable in dollars due fromforeign branches of other American banks, and exchanges for clearing house and other checks on local banks.
3 Deficiencies in reserves indicated by a minus (—) sign.* Gross deposits in nonmember banks and from which have been taken lawful deductions allowed before computing required reserve.« The cash in vault (exclusive of national-bank notes) and due from approved reserve agents.
S
o
o• 3
34
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416 BEPOBT OF THE COMPTROLLEB OF THE CUBBENCX
TABLE N O . 59.—Aggregate resources and liabilities of national banks from February,1920, to October, 1929
1930
[In thousands of dollars]
Feb. 28(7,933
banks)
May 4(7,990
banks)
June 30(8,030
banks)
Sept. 8(8,093
banks)
Nov. 15(8,123
banks)
Dee. 29(8,130
banks)
EESOURCES
Loans and discountsOverdraftsCustomers' liability under letters of credit..Customers 'liability account of acceptances.United States Government securities
owned __Other bonds, securities,etcStocks, other than Federal reserve bank
stockStock of Federal reserve banksBanking houseFurniture and fixturesOther real estate owned.Lawful reserve with Federal reserve banks_Items with Federal reserve banks in proc-
ess of collection _Cash in vault. _ . . .Net amount due from national banksNet amount due from other banks, bank-
ers, and trust companiesExchanges for clearing houseChecks on other banks in the same place..Outside checks and other cash itemsRedemption fund and due from United
States TreasurerInterest earned but not collectedOther assets.,.,.-
Total.
LIABILITIES
Capital stock paid in__Surplus fundUndivided profits, less expenses and taxes
paid ,Interest and discount collected but not
earned..Amount reserved for taxes accruedAmount reserved for all interest accrued __.National-bank notes outstandingDue to Federal reserve banks-.Net amount due to national banks __Net amount due to other banks, bankers,and trust companiesCertified checks outstanding _C ashiers' checks outstandingDemand depositsTime depositsUnited States deposits
Total deposits. _United States Government securities bor-
rowed.Other bonds borrowed __Securities (other than United States or
other bonds) borrowed _Bills payable, other than with Federal re-
serve banksBills payable with Federal reserve banks..State bank circulation outstandingLetters of credit and travelers' checks out-
standing. ,_. _Acceptances ,Time drafts outstanding „Liabilities other than those above stated. _
Total
Liabilities for rediscounts, including thosewith Federal reserve banks.
* Since Sept. 8,1920, letters of credit included with loans and discounts.
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BEPORT OF THE COMPTROLLER OF THE CURRENCY 417
TABLE NO. 59.—Aggregate resources and liabilities of national banks from February,1920, to October, 1929— Continued
1921
[In thousands of dollars]
Feb. 21(8,143
banks)
Apr. 28(8,152
banks)
June 30(8,154
banks)
Sept. 6(8,155
banks)
Dec. 31(8,169
banks)
RESOURCES
Loans and discounts 2
OverdraftsCustomers' liability account of acceptances.United States Government securities
ownedOther bonds, stocks, securities, etc.Banking house, furniture, and fixturesOther real estate owned.Lawful reserve with Federal reserve banks.Items with Federal reserve bank in process
of collection _.Cash in vault _Amount due from national banks—„Amount due from other banks, bankers,
and trust companiesExchanges for clearing houseChecks on other banks in the same place--Outside checks and other cash itemsKedemption fund and due from United
States TreasurerOther assets
Total
LIABILITIES
Capital stock paid inSurplus fundUndivided profits, less expenses and taxes
paidNational-bank notes outstandingDue to Federal reserve banksA mount due to national banksAmount due to other banks, bankers, and
trust companiesCertified checks outstandingCashier's checks on own bank outstandingDemand depositsTime depositsUnited States deposits
Total depositsUnited States Government securities
borrowedBonds and securities (other than United
States) borrowedBills payable, other than with Federal
reserve banksBills payable with Federal reserve banks.Letters of credit and travelers' checks
outstanding..- _Acceptances executed for customers and
to furnish dollar exchange less those pur-chased or discounted
Acceptances executed by other banks• Liabilities other than those stated above._
Total „ .-
Liabilities for rediscounts, including thosewith Federal reserve banks _.
11, 680,83712, 360
330,023
2,047, 2341,980,825
390,76047,651
1,128, 517
334, 722397, 773
3 901, 201
3 216,957473, 208
46, 01646,066
37,101236, 400
11,367,07410, 770
282,478
2, 001,8111,990,970
399, 03852,398
1, 077,155
313, 385402, 223
» 752, 934
3 218,797390,465
37,10139, 789
35,600198, 711
11,125,0999,970
238,287
2,019,4972,005, 584
410, 39251,742
1,040, 205
328, 002374, 349756,861
259,656656, 093
60,47861,238
36, 290204, 703
10,977,61412, 355
202, 354
1.861,9771, 973, 749
421, 02752,939
1.029,978
305,469357, 798
231,044467,845
54,97355, 242
35,845165, 274
20, 307, 651 19, 570, 699 19, 638,446 19, 014,102
1, 273, 2051, 029,406
560, 540684, 366
14, 7133 887,018
3 1, 501, 563122, 386166, 202
8,960, 5933,712,430
113, 44915, 4.78,854
121,895
123,169658, 283
5,726
4 345,644
23,403
1, 271,3831, 024, 761
521,164679, 577
16, 5113 751, 749
3 1, 337, 072108, 338162, 735
8, 601,7873, 698, 518
175,149
14,851,859
130,785
4,086136, 923585,023
5,317
287,17717,05455, 590
1, 273, 8801, 026, 256
496,155704,147
18, 678699, 705
1, 432, 628147, 003189, 647
8, 709,8253, 695, 806
249,03915,142, 331
100, 324
2,830
140,195452,368
6,188
239,68211, 24342, 847
1, 276,1771,027, 373
538, 784704,668
16, 068757,985
1, 343, 245124,870175, 243
8, 352, 7563, 680, 704
109,981
14, 560,852
84, 847
3,230133,836417,859
4,976
206, 50711,67343, 320
20, 307, 651 19, 570, 699 19,638, 446 19, 014,102
1,144, 077 989, 556 879, 416 705, 078
10,981,7839,949
200,663
1,975,8982,081, 442
429,92954,368
1,143, 259
349, 911341,811863, 508
437, 75069,23662,209
36, 697152,921
19, 420,136
1, 282,4321, 033,406
464, 782717,473
18,882779,783
1, 467, 22156,061
208, 7958 606 9433, 749, 328
188,089
15, 075,102
66,923
5,740114,434381,889
3,951
202,37816,55855,068
19, 420,136
523, 606
2 Includes customers' liability under letters of credit.3 Prior to June 30, 1921, this item called for "Net amounts."4 Includes acceptances executed by other banks.
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418 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 59.—Aggregate resources and liabilities of national banks from February,1920, to October, 1929—Continued
1923
[In thousands of dollars]
RESOURCES
Loans and discounts (including redis-counts)2 _
Overdrafts _Customers' liability account of acceptances.United States Government securities
ownedOther bonds, stocks, securities, etcBanking house, furniture and fixturesOther real estate ownedLawful reserve with Federal reserve banks _Items with Federal reserve banks in process
of collectionCash in vaultAmount due from national banksAmount due from other banks, bankers,
and tiust companiesExchanges for dealing houseChecks on other banks in the same place..Outside checks and other cash itemsEedemption fund and due from United
States Treasurer _Other assets._.
Total
LIABILITIES
Capital stock paid inSurplus fundUndivided profits, less expenses and taxes
paid...National-bank notes outstandingDue to Federal reserve banks.Amount due to national banksAmount due to other banks, bankers, and
trust companiesCertified checks outstandingCashier's checks outstandingDemand deposits.Time deposits (including postal savings)...United States deposits
Total depositsUnited States Government securities bor-
rowedBonds and securities (other than United
States) borrowedBills payable (including all obligations
representing borrowed money other thanrediscounts)
Notes and bills rediscounted (includingacceptances of other banks and foreignbills of exchange or drafts sold with in-dorsement)
Letters of credit and travelers' checks out-standing
Acceptances executed for customers andto furnish dollar exchange less those pur-chased or discounted . ._
Acceptances executed by other banksLiabilities other than those stated above. . .
Total
Mar. 10(8,197
banks)
May 5(8,230
banks)
V
11, 282, 57911, 295
169, 887
2, 031, 5642, 086, 596
440,29657, 598
1,124, 707
312, 900336,065987, 816
248, 578481, 368
38, 20741, 205
36, 507163, 234
19, 850,402
1, 289, 5281,036,184
508, 500719, 57017,641
962,140
1, 560, 920174, 469175, 632
8, 446, 5303, 837, 759
215, 34715, 390, 438
53, 722
6,103
275, 089
323, 737
4,719
171, 33213, 86957, 551
19,850, 402
11,184,11610, 227
168, 935
2,124, 6912,162, 587
444, 36862, 531
1,150,885
330,917334, 504974, 375
244, 707681, 26945, 21544, 053
36, 823176, 445
20,176, 648
1, 296, 2201,040,249
522, C58720, 98421,213
936, 399
1, 657, 409190, 877193, 763
8, 707, 2013,918, 282
141,844
15,766,988
46, 225
3,058
248, 681
285, 940
5,050
170,13214, 74855, 715
20,176, 648
June 30(8,249
banks)
11,248, 2149,198
176, 238
2, 285,4592, 277, 866
452, 43464,383
1,151, 605
326,181974,975
267,050767,096
63, 39464, 928
36, 767184, 556
20, 706,010
1, 307, 2161, 048,806
492, 434725, 74819,852
916,740
1, 565, 459205, 682245,091
9,152, 4154, 111, 951
103, 374
16,320, 564
42, 475
2,897
228,481
280, 271
8,256
172, 88716, 49459,481
20, 706, 010
Sept. 15(8,240
banks)
11,236,02512,141
171,190
2, 402,4922, 289, 782
459,02067, 789
1,232,104
418, 923331,951
1,063,695
299,541614,771
54,62363,112
36, 656172, 284
20,926, 099
1, 307,1221, 042,197
539, 047726, 78926,472
1, 031, 648
1, 582, 444164,427208,991
9, 270, 3784,169, 220
145,182
16,598, 7m
38,104
2,990
181, 765
247, 559
165, 71517, 65451, 756
20, 926, 099
Dec. 29(8,225
banks)
11,599,66813,045
208, 465
2,656,5602,347,479
470, 64475,178
1,220, 847
455, 792391, 840
1,065, 820
316,966777,57270,08862,221
36, 825205, 947
21,974,957
1,317,0101,075,545
528, 924723,81928,109
1,035,961
1,691,307218,464287, 733
9, 535, 9954,318, 736
304,176
17,420,481
34,615
2,948
310,781
262,421
4,889
199,84423, 63170,049
21, 974,957
2 Includes customers' liability under letter of credit.
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REPORT OF THE COMPTROLLER OF THE CURRENCY 419TABLE NO. 59.-—Aggregate resources and liabilities of national banks from February,
1920, to October, 1929—Continued
1933[In thousands of dollars]
RESOUECES
Loans and discounts (including rediscounts)2
Overdrafts. _Customers' liability account of acceptancesUnited States Government securities owned..Other bonds, stocks, securities, etc_ _ _Banking house, furniture and fixtures _ _Other real estate ownedLawful reserve with Federal reserve banks. „Items with Federal reserve banks in process of collection-Cash in vaultAmount due from national banks __ .-.Amount due from other banks, bankers, and trust com-
panies _Exchanges for clearing houseChecks on other banks in the same place_Outside checks and other cash itemsEedemption fund and due from United States TreasurerOther assets ._
Total
LIABILITIES
Capital stock paid in.__ _Surplus fund __Undivided profits, less expenses and taxes paid...National-bank notes outstandingDue to Federal reserve banksAmount due to national banksAmount due to other banks, bankers, and trust com-
panies.. _Certified checks oustandingCashiers' checks outstanding....Demand depositsTime deposits (including postal savings) _ _ _United States deposits
Total deposits:United States Government securities borrowedBonds and securities (other than United States) bor-
rowedBills payable (including all obligations representing
borrowed money other than rediscounts)Notes and bills rediscounted (including acceptances of
other banks and foreign bills of exchange or draftssold with indorsement)
Letters of credit and travelers' checks outstandingAcceptances executed for customers and to furnish
dollar exchange less those purchased or discounted. _.Acceptances executed by other banks _Liabilities other than those stated above _ _
Total
Apr. 3(8,229
banks)
11,667,95911, 662
202, 8262, 694, 2072,346,915
479, 58082,139
1,179,500424,620359,147
1,033,749
300,990526, 22457, 39653, 942
154,962
21, 612, 713
1,319,1442,067,652
486,172728,076
26, 5171,015, 525
1, 644, 488148, 477176,155
9,180, 6244, 580, 216
264, 27917,036, 281
34, 080
4,161
370,165
290,4675,542
200, 87326,14443, 956
21,612, 713
June 30(8,241
banks)
11,817,67110,430
187,1312, 693,8462,375,857
493,32487,133
1,142,736396, 911291,108910,014
295,660486,38368, 28371, 57837,108146, 643
21, 511, 766
1,328, 8911,070, 616
476, 205720,00124,194
838, 227
1, 546, 77754,123
199, 064
4, 755,162192,135
16, 897,980
34, 952
2,977
370,921
352,8018,569
172, 20830,40945, 236
21, 511, 766
Sept. 14(8,239
banks)
11,934,55612,950
153,4852,602, 7622,398, 304
504, 73186, 412
1,169, 345463, 456361,485960, 769
292,974481,58549,56059,40636,934144,162
21,712,876
1, 332,3941,068,320
523,010731,479
29,763905,104
1, 510, 573130, 547167,157
9, 331, 3684,864, 369
101,64917, 040,580
2,750
352,995
400, 7997,503
145, 78618, 89751, 430
21, 712, 876
Dec. 31(8,184
banks)
11,876,56210,470
207,4382, 566,8512,477,843
512,91093,881
1,180,838460,173
1,029,342
319,992925,97985,07973,65636, 746
161,940
22,406,128
1,325,8251,068,350
473, 970725, 94926,965
920,239
1,648,607186,434347,629
9, 593,1194,948,019
157,84917 y 828,861
38,287
3,038
324,166
333,8965,475
204,43217,63056,231
22,406 128
2 Includes customers' liability under letters of credit.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
420 BEPOET OF THE COMPTROLLER OF THE
NO. B9.~~-Aggregate resources and liabilities of national banks from February,1920, to October, 1929—Continued
1934
[In thousands of dollars]
Mar. 31(8,115
banks)
June 30(8,085
banks)
Oct. 10(8,074
banks)
Dec. 31(8,049
banks)
RESOURCES
hmns and discounts (including rediscounts) *Overdrafts. - „ . _ mmw.Customers' liability account of acceptances0ai]bed States •Government securities ownedOther bonds, istocks, securities, etc ._._..Banking house, furniture and fixturesOther real estate owned.. ..£/aw£ul reserve with Federal reserve banks.Items with Federal reserve banks in process of collee-
tion.C&sb. in vault ..._.-. ..Amount due from national banks....Amount due from other banks, bankers, and trust com-
panies , ------Exchanges for clearing house.Ckeeks on other banks in the same placeOutside checks and other cash items .^Redemption fund and due from United States Treasurer.Other assets
11,952,28710,815202,572
2,494,3132, 511, 637525,335100, 098
1,160, 766
379,307342, 969
11,978,72810,075
2,481,7782,660,550532,728104, 630
1,198, 670
397, 340345, 219
283, 386842, 71967,08356,42037,167157, 210
345, 020925, 56875,92569, 68737,129167, 280
12,210,14812, 242145,666
2, 579,1902,897,040541,852107,459
1,303,631
427, 894360,101
1,412,807
439,356575,36053,87152,89836, 726166, 820
Total . 22, 062, 888
LIABILITIES
Capital stock paid in.. _Surplus fund „Undivided profits, less expenses and taxes paid'Reserved for taxes, interest, etc., accured.N-ational-bank notes outstandingDue to Federal reserve banksAmount due to national banksAmount due to other banks, bankers, and trust com-
1, 335, 5721,073,363
507,905
22, 565,919
1, 334, 0111,080, 578
501, 656
23, 323,061
1, 332, 5271,074,268
556,792
Certified cheeks outstandingCashiers' checks outstanding,3>emand depositsTime deposits (including postal savings)United States deposits
Total deposits ^ _.United States Government securities borrowedBonds and securities (other than United States) bor-
rowedBills payable (including all obligations representing
borrowed money other than rediscounts)Notes and bills rediscounted (including acceptances of
other banks and foreign bills of exchange or drafts soldwith indorsement)
iLetters of credit and travelers' checks outstandingAcceptances executed for customers and to furnish
dollar exchange less those purchased or discounted...Acceptances executed by other banksLiabilities other than those stated above
726, 48325, 328
886, 435
1, 653, 347187, 704261, 785
9, 292,1275,108, 970
183,00017,598,696
35,684
2,532
271, 6456,225
193, 24025, 45547,200
729,68626, 445
1,035, 000
1, 759, 556226, 714323, 621
9, 593, 2505, 259,933
123, 31818, 847, 8S7
32, 542
2,565
143,847
196, 7789,456
131,41117, 38138,171
728, 53027, 342
1,338, 309
1, 933, 857147, 404217, 231
9, 795, 5805,460,677
19,108,79828,729
3,581
123,611
170,4196,135
140, 57418, 43535,662
TotaL. 22, 062, 888 22, 565,919 23, 323, 061
12,319,6809,802
244,7282, 586, 697a, 075,999
551,371108.966
1,394,386
486,933409,566
1,349,850
431,043996,61585,22570,63536,310
223,466
24, 381, 281
1, 334, 8361,088,880
442,48460, 784
714.84483,188
1, 239,923
2,029,671184,363415,260
10, 363, 2505, 581, 287
153, 269W, 000, BOS
28,930
3,405
202,304
196,3966,124
235, 232.26, 56440,290
24, 381, 281
2 Includes customers' liability under letters of credit.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 421TABLE N O . 59. -«Aggregate resources and liabilities of national banks from February,
tno, to October, 1929— Continued
1925
[In thousands of dollars]
Apr. 6(8,016
banks)
June 30(8,072
banks)
Sept. 28(8,085
banks)
Dec. 31(8,054
banks)
B£SOURCES
Loans and discounts (including rediscounts) 2_Overdrafts ,.Customers' liability account of acceptances.United States Government securities ownedOther bonds, stocks, securities, etc _ _ _Banking house, furniture and fixtures _Other real estate ownedLawful reserve with Federal reserve banksItems; with Federal reserve banks in process of collection.Cash in vault_ _„., _Amount due from national banksAmount due from other banks, bankers, and trust com-
Exchanges for clearing house__ ___Cheeks on other banks in the same place- _Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets
12,468,83611,410
240,9622,614,1853,139,255
564,103112,481
1,273,274411,539361, 671
1,192,049
395, 655665,28867, 70854,54133,120
12,674,0679,352
176, 5832,536,7673,193,677
585,267111, 191
1,326,864466, 787359, 605
1,096,768
403,366988,294
80,72769,51733,038
238,993
13,134,46114,900
201,0832,512,0253,242,620
593,176114,677
1, 324, 326456,666362, 341
1,120,925
Total. 23, 832, 463 24, 350, 863
733,81658,32654,09432,876
219, 346
24,569,527
13,535,27810,554
277,5132,522,8103,252,016
606,474113,741
1,376,992572,090390,116
1,192, §48
425,5183,127,241
109,67971,32033,008
235,114
25,852,412
LIABILITIES
Capital stock paid inSurplus fundUndivided profits, less expenses and taxes paid___Reserved for taxes, interest, etc., accruedNational-bank notes outstandingDue to Federal reserve banksAmount due to national banks ,Amount due to other banks, bankers, and trust com-
panies. _Certified checks outstanding _.Cashiers' checks outstandingDemand deposits. _Time deposits (including postal savings)United States deposits _
Total deposits . „United States*Government securities borrowedBonds and securities (other than United States) bor-
rowedAgreements to repurchase United States Government
or other securities sold :._.Bills payable (including all obligations representing
borrowed money other than rediscounts)Notes and bills rediscounted (including acceptances of
other banks and foreign bills of exchange or drafts soldwith indorsement)
Letters of credit and travelers' checks outstandingAcceptances executed for customers and to furnish dol-
lar exchange less those purchased or discountedAcceptances executed by other banksLiabilities other than those stated above _
1,361,4441,106,544
490,45760, 224
649,44729, 323
1,147, 628
1, 839,935197, 508204,447
9,923,2435,785,211
255, 65219,382,947
21, 747
3,821
219,198
226, 5976,537
232, 76129,50241, 237
1, 369,4351,118,928
481, 71160,078
648,49430, 740
1, 028,168
1,827,492224,089336,167
10,430,2545,924, 658
108,10119,909,669
21,684
3,530
3,413
245,107
233,87412,127
164, 56928,77349, 471
Total _ 23,832, 463 24, 350, 863
1, 375, 0091,125,495
543,56469,792
649,22131, 820
1, 068,420
1,766, 708251,505214,594
10,427,5445,994, 374
175,09719,930,062
24,479
3,976
4,057
316, 627
245,5379,065
191,87328, 54252, 228
24, 569, 527
1,379,1011,166,601
476,20759,170
648,46138,321
1,076,397
1,897,555261,813414,856
11,151,1266,047,370
193, 22221,080,660
32, 718
3, 625
1,984
384,377
264,5057,525
257,92939,59549,954
25, 852,412
2 Includes customers' liability under letters of credit.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
422 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE NO. 59.—Aggregate resources and liabilities of national banks from February,1920, to October, 1929—Continued
1926
[In thousands of dollars]
Apr. 12(8,000
banks)
June 30(7,978
banks)
Dec. 31(7,912
banks)
RESOURCES
Loans and discounts (including rediscounts)2 _ -.Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture, and fixtures _Other real estate owned _._ _. _Lawful reserve with Federal reserve banksItems with Federal reserve banks in process of collection _Cash in vaultAmount due from national banksAmount due from other banks, bankers, and trust companies..Exchanges for clearing houseChecks on other banks in the same placeOutside checks and other cash itemsRedemption fund and due from United States TreasurerUnited States Government securities borrowedBonds and securities, other than United States, borrowedOther assets _
Capital stock paid in _Surplus fund ._ _Undivided profits, less expenses and taxes paid _Reserved for taxes, interest, etc., accruedNational-bank notes outstandingDue to Federal reserve banksAmount due to national banksAmount due to other banks, bankers, and trust companiesCertified checks outstandingCashiers' checks outstandingDemand deposits _Time deposits (including postal savings)United States deposits
Total depositsUnited States Government securities borrowedBonds and securities, other than United States, borrowedAgreements to repurchase United States Government or other
securities sold ._Bills payable (including all obligations representing borrowed
money other than rediscounts)Notes and bills rediscounted _ _Acceptances of other banks and foreign bills of exchange or drafts
sold with indorsement _Letters of credit and travelers' checks outstandingAcceptances executed for customers and to furnish dollar exchange
less those purchased or discountedAcceptances executed by other banksLiabilities other than those stated above
8 Includes customers' liability tinder letters of credit.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOET OF THE COMPTROLLER OF THE CURRENCY 423
TABLE NO. 59.—Aggregate resources and liabilities of national banks from February^1920, to October, 1929—Continued
1937[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)2
O verdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances __B anking house, furniture an d fixturesOther real estate ownedLawful reserve with Federal reserve banksItems with Federal reserve banks in process of collection.Cash in vault. _. _.Amount due from national banks _Amount due from other banks, bankers, and trust com-
Exchanges for clearing houseChecks on other banks in the same place.Outside checks and other cash itemsRedemption fund and due from United States Treasurer.United States Government securities borrowedBonds and securities, other than United States, bor-
rowed.. .Other assets
Total _
LIABILITIES
Capital stock paid in _Surplus fundUndivided profits, less expenses and taxes paid_._Reserved for taxes, interest, etc., accruedNational bank notes outstandingDue to Federal reserve banksAmount due to national banksAmount due to other banks, bankers, and trust com-
paniesCertified checks outstandingCashiers' checks outstandingDividend checks outstanding _Demand depositsTime deposits (including postal savings)United States deposits. _._
Total depositsUnited States Government securities borrowedBonds and securities, other than United States, bor-
rowedAgreements to repurchase United States Government
or other securities soldBills payable (including all obligations representing
borrowed money other than rediscounts)Notes and bills rediscounted...Acceptances of other banks and foreign bills of exchange
or drafts sold with indorsement _ _ —Letters of credit and travelers' checks outstandingAcceptances executed for customers and to furnish dol-
lar exchange less those purchased or discountedA eceptances executed by other banksLiabilities other than those stated above
Total .
Mar . 23(7,828
banks)
13, 647, G4012, 662
2, 652, 3673, 671, 313
246, 250
117, 5711, 400, 317
443,145373,905
1,026, 760
393,174626, 687
74, 30447,12632, 505
4,646247, 830
25, 699,147
1, 460, 4911, 239, 810
519, 67070, 409
642, 55835, 281
1, 764,982200,381201,921
10,430, 3417,056, 467
241,94520,912,209
17, 011
4,646
4,480
306, 20392,840
95,0359,812
242, 26517, 63664,072
25, 699,147
June 30(7,796
banks)
13, 955, 6969,788
2, 596,1783, 797, 040
253,131680, 218115,817
1, 406, 052496, 916364, 204
1,044, 653
426, 381947, 946101, 57489, 48032,91717, 721
3,826242, 405
26, 581, 943
1, 474,1731, 256, 945
508, 42170,326
650, 94636. 379
976,119
1,844,439223, 884315,106
10,923, 7297, 315, 624
139, 84321,775,123
17, 746
3,529
248, 018120, 024
111, 01015,449
248,18420, 35357,870
26, 581,943
Oct. 10(7,804
banks)
14, 366, 92614, 503
2, 675, 5423,941, 438
283, 589698, 516122,161
1, 413, 792502,036375, 251
1,125,872
459,842790, 49686, 47986, 83233, 07914, 780
2,948219, 742
27, 213,824
1, 499, 3841, 273, 029
571, 48278, 521
649, 88636,107
1,076, 860
1, 894, 696281, 479227, 217
10,924,3117, 590,944
255, 62422, 287,238
14, 787
2,948
3,045235, 759
80, 571
157, 42210,684
278,96718, 44451, 657
27,213,824
Dec. 31(7,765
banks)
14,831,25910, 313
2,747,8544,151,944
369,855700, 337122, 885
1, 509, 253520, 399361, 376
1,177, 334
473, 881675, 661106,281
• 106,36333,30620, 743
3,550241, 625
28,164, 219
1, 528, 5091, 314, 438
530, 75376, 451
650, 37339, 381
1,045,133
2,110,93368, 569
358, 41029, 620
11, 230, 0477, 808, 437
169, 47322, 860,003
20,967
3,550
12, 843410,149. 71,233
194, 5309,220
374,85214,50691,842
28,164, 219
2 Includes customers' liability under letters of credit.
79003°—30 28
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
424 REPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 59.—Aggregate resources and liabilities of national banks from February,1920, to October, 1929—Continued
1938
[In thousands of dollars]
Feb. 28(7,734
banks)
June 30(7,691
banks)
Oct. 3(7,676
banks)
Dec. 31(7,635
banks)
RESOURCES
Loans and discounts (including rediscounts) »Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures..Other real estate owned _Reserve with Federal reserve banksItems with Federal reserve banks in process of collection.Cash in vault ._ _Amount due from national banksAmount due from other banks, bankers, and trust com-
paniesExchanges for clearing house _C hecks on other banks in the same place. _ _Outside checks and other cash items _Kedemption fund and due from United States Treas-
urer.Acceptances of other banks and bills of exchange or
drafts sold with indorsement _United States Government securities borrowedBonds and securities, other than United States, bor-
rowedOther assets
14,399,44712,156
2,900,8964,180,004
375,185712, 278123, 653
1, 457, 431454,166370, 228
1, 058, 531
427,247645, 73870,28676,918
32,849
15,144,99510,138
2,891,1674, 256, 281
414, 573721, 229125, 680
1,453,383448,182315,113
1, 020,320
417,465756,176106,789100,367
33,050
15,116,86015, 606
3,012,5844,104, 022429,034732,455122, 773
1,467,535567,942364,281
> 1,556,235
99,213
33,261
13,979
3,810258,885
17,877
3,358272,096
18,545
295,205
Total. 27, 573,687 28,508,239
Capital stock paid inSurplus fundUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued
and unpaidNational-bank notes outstandingDue to Federal reserve banks _.Amount due to national banksAmount due to other banks, bankers, and trust com-
panies _Certified checks outstanding __.Cashiers' checks outstanding _Dividend cheeks outstandingLetters of credit and travelers' checks outstandingDemand deposits _ ___Time deposits (including postal savings)United States deposits..
Total deposits a._United States Government securities borrowedBonds and securities, other than United States bor-
rowed...Agreements to repurchase United States Government or
other securities sold.Bills payable (including all obligations representing
borrowed money other than rediscounts)Notes and bills rediscounted...Acceptances of other banks and foreign bills of exchange
or drafts sold with indorsementLetters of credit and travelers' checks outstandingAcceptances executed for customersAcceptances executed by other banks. _Liabilities other than those stated above .. .
1 Includes customers' liability under letters of credit.2 Excludes acceptances of other banks and bills of exchange or drafts sold with indorsement, shownseparately. *3 Letters of credit and travelers' checks sold for cash and outstanding have not been included with totaldeposits for calls prior to Oct. 3,1928.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 425TABLE NO. 59.—Aggregate resources and liabilities of national banks from February,
1920, to October, 1929—Continued
1939
[In thousands of dollars]
Mar. 27(7,575
banks)
June 29(7,536
banks)
Oct. 4(7,473
banks)
BESOTJRCES
Loans and discounts (including rediscounts)l
Overdrafts _ _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture, and fixturesOther real estate ownedEeserye with Federal reserve banksCash in vaultDue from banksOutside checks and other cash items__Redemption fund and due from United States Treasurer. _Acceptances of other banks and bills of exchange or drafts sold with
indorsement. _Securities borrowed—Other resources
Total
LIABILITIES
Capital stock paid inSurplus fund __ _ ._Undivided profits—net_._Reserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and unpaidNational-bank notes outstanding. __Due to banks _Demand deposits -Time deposits (including postal savings)United States deposits
Total depositsAgreements to repurchase United States Government or other
securities sold_Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts sold with
indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting banksSecurities borrowedOther liabilities _
Total
14,849,92612,257
3, 096, 7603, 973, 995
472,486726, 267126,903
1,404, 528363, 491
3, 385, 66172, 29032, 786
247, 86735,425
221, 270
14,801,13010,193
2, 803,8603, 852, 675
397, 333747, 684118, 839
1, 344, 951
2, 569,09870,09532,740
164, 86620,186
208, 575
29,021, 912 27,440, 228
1,633, 2711, 528, 326
538, 74467, 27180,700
647,8483, 498, 397
10, 934, 9948,166, 596
272, 893
53,451703,812
247, 867473, 509
20,91835,425
117,890
1, 627, 8751, 479,052
487, 50480,83273,968
649,4522, 548, 482
10,504, 2688, 317, 095
228, 243
49, 660714, 507
164,866392, 623
18, 64820,18683,467
29,021,912 27,440, 228
14,961,87715,533
2, 704,8743, 741,014
484,728746,419121, 684
1, 320,427347, 362
2,970,19069, 92132,854
188,92521,929
196, 573
27,924,310
1, 671, 2741, 515, 241
555,87361,75986,475
641,1042,829,960
10, 568,0128,301, 751
202, 27421,901,997
41,690657, 572
188,925479, 931
20,61821,92979,922
27,924,310
i Includes customers' liability under letters of credit.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE No. 60
ABSTRACT OF REPORTS OF CONDITION OF NATIONAL BANKSON DECEMBER 31, 1928, MARCH 27, JUNE 29
AND OCTOBER 4, 1929
(Arranged Alphabetically by States, Territories, and Reserve Cities)
(In Thousands of Dollars)
NOTE.—The Abstract of each State is exclusive of any reserve city therein
427
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
428 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)
ALABAMA
[In thousands of dollars]
Dec. 31,1928
104 banks
Mar. 27,1929
104 banks
June 29,1929
103 banks
Oct. 4,1929
104 banks
RESOURCES
Loans and discounts (including rediscounts) _Overdrafts _ .__United States Government securities owned ^Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures.-.Other real estate owned-.. _Reserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash items.-. .Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts sold
with indorsementSecurities borrowedOther assets
Total. _ _
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks *__Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold ._,Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold, with indorsementAcceptances executed for customersSecurities borrowed.__ -.^Other liabilities -.
Total. _ .-
101, 014128
16,43521, 526
1,6775,2261,7647,1794,715
17, 777S07472
152
135
178,972
13, 5208,6623,080
516
2149,3227,281
73,26750, 6332,186
133,367
1,497
151,746
243
178,972
102, 611165
15, 77320,179
1, 5455,2471,8606,6444, 266
13,052311470
182
83
99, 54793
15,14720,126
1,4085, 5491,6836,2173,340
12,450417470
712
73
172,226 166,593
13, 5708, 7054,053
211
3529,3135,849
66,78250,1582, 557
125,346
1,0167,937
181,651
252
13, 5708,7283,771
373
4129,3075,388
57, 27150, 7252,831
116,215
15312,464
711,498
229
172,226 166, 593
99, 575298
13, 731.20,632
2,4195,4951,6626,2893,972
16,028387451
6211
81
171,642
13, 6208,7973,641
299
5778,8497,015
63,23649, 7842,763
122,798
249
6212,895
126
171,642
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF TOE CURRENCY 429Abstract of reports of condition of national banks at date of each call during year ended
October SI, 19B9 {arranged by States and reserve cities)—Continued
ALABAMA—Continued
BIRMINGHAM
[In thousands of dollars]
Dec. 31,1928
3 banks
Mar. 27,1929
3 banks
June 29,1929
3 banks
Oct. 4,1929
3 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts __ _United States Government securities owned.Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowedOther assets , _.
53,77111
6,1624,8192,512
7283,948
8289,244
470217
1,1495
6,5394,5432,513730
3,4221,0618,086118218
51,3332
6, 5424,8052,521737
3,534657
7,557395217
Total.
90
£2,800
90 92
LIABILITIES
Capital stock paid in _SurplusUndivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks *Demand deposits _ _Time deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsSecurities borrowed _Other liabilities ...
4.4504,5502,113631
1104,3157,82133, 87320,162
31862,1U
4,276
78, 474
4,4504, 5502,537
275
4 3505,632
29,31619, 499
72765,1746,596
78, 392
4,4504,5502,526
387
2504,3314,13129,70819,873
427£4,139
7, 521
181
Total. 82, 800
238
78, 392
51,4171
6,7224,2632, 522
8863, 727
96911,971
25021725
107
83,077
4, 4504,5502, 633
328
4774,3167,06332,93718,142
410
m, u%7,537
25209
83,077
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
430 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
ALASKA
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures __Other real estate owned. .._Cash in vault _Due from banks _.Outside checks and other cash itemsBedemption fund and due from United States Treasurer
Total- _ -
LIABILITIES
Capital stock paid in _Surplus : _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding. _Due to banks1 __.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits
Total .
2,1863
1,039809613
372636263
5,138
275167
20
6259
2,3881,768
3604,575
5,138
2,1023
1,04778512623
346617363
2751686913
26177
2,2221,769
4324,600
5,088
2,1762
1,04081312623
455637383
5,313
275172
12
5868
2,4161,846
5,313
2,2752
1,04178212723
446927125
5,751
2751738813
36052
2,7511,933
4035,139
5,751
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 431
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued
ARIZONA
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)
United States Government securities ownedOther bonds, stocks, securities, etc., owned..Customers' liability account of acceptancesB anking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank..Cash in vault _Due from banks.. .Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _Other assets _
Total _ _
LIABILITIES
Capital stock paid in . __SurplusUndivided profits—netReserves for dividends, contingencies, etc -Reserves for interest, taxes, and other expenses accrued" and
unpaidCirculating notes outstanding-Due to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
T o t a l d e p o s i t s __ . . .Agreements to repurchase United States Government or
other securities sold. _Bills payable and rediscounts. _ _Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
432 REPOBT OF THE COMPTROL.LEB OF THE CURBiENCY
Abstract of reports of condition of national hanks at date of each caM during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
ARKANSAS
[In thousands of dollars]
Dec. 31,1928
77 banks
Mar. 27,1929
76 banks
June 29,1929
72 banks
Oct. 4,1929
72 banks
RESOURCES
Loans and discounts (including rediscounts)-...,. ....Overdrafts . ^ --...United States Government securities ownedOther bonds, stocks, securities, etc., owned. ^__.Banking house, furniture and fixtures ,._.Other real estate owned _._ —Reserve with Federal reserve bank ,_,Cash in vault.Dtze from banks . ...Outside checks and other cash items _Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets.._
52,647104
13,05111,0091,8991,1764,2942,355
14,211165190
•62,181'99
13,36211,1641,8921,1344,0152,2989,740
156197
282
Total . 101,383 96,501
LIABILITIES
Capital stock paid i n .Surplus. _ ._ . - ._Undivided profits—net__ _Reserves for dividends, contingencies, etc ..Reserves for interest, taxes, and other expenses accrued and
unpaid . . .Circulating notes outstanding . . .!Due to banks *_ -Bemand depositsTime deposits (including postal-savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold..*. _ __Bills payable and rediscounts-Acceptances of other banks and bills of exchange or drafts
sold with indorsement „ _Other liabilities__ ,
6,7653,6951,557
124
1653,758
11,21142,18231,142
48985,024
4269
6,8153,5961,921
88
220
7,54239,40231,166
53378,648
511,233
22
Total . 101,383 96,501
50,69463
13,00510,5691,8641,0293,7571,5249,350
165196
273
92,489
6,5153,4191,729
93
1493,8835,729
39,03429,851
45775,071
1131,459
58
92,489
52,159244
12,60210,2411,874
9754,1992,061
13,580218196
6317
98, £72
6,5153,3831,921
25
1588,787$,899
38,98980,090
45079, J$S
1133,274
62
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 433
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued.
ARKANSAS—Continued
LITTLE BOCK
[In thousands of dollars]
Dee. 31,1928
1 bank
Mar. 27,1929
1 bank
Juno 29,1929
lbank
Oct. 4,1929
lbank
RESOURCES
I/oans and discounts (including rediscounts).OverdraftsUnited States Government securities owned.Other bonds, stocks, securities, etc., owned...Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banks .Outside checks and other cash itemsOther assets.._
Total.
LIABILITIES
Capital stock paid in _Surplus. . .Undivided profits—netKeserves for interest, taxes, and other expenses accrued and
unpaidDue to banks1 _Demand depositsTime deposits (including postal savings deposits)_..._United States deposits
Total deposits..Bills payable and rediscounts _.
Total.
3,1131
44520337117
36351
944297
5,544
30020019
1,9031,7251,316
815,025
5,544
3,7717
5652175341141536896311
6,411
400100202
1882
2,2942,237120
6,538175
6,411
3,6961
665101534115314386741726
6,181
400100167
21,0411,9702,153
885,252
260
6,181
3,5573
56710253412133881
7111214
6,040
400100142
1,1731,9112,093
6,275123
6,040
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
434 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
CALIFORNIA
[In thousands of dollars]
Dec. 31,1928
193 banks
Mar. 27,1929
192 banks
June 29,1929
195 banks
Oct. 4,1929
195 banks
RESOURCES
Loans and discounts (including rediscounts)__ _.OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances—Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank..Cash in vault .-.Due from banks.-- .Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts sold
with indorsementSecurities borrowedOther assets _
180, 790207
26, 71269, 260
11,2811,978
15, 7455,900
38, 7011,714
521
Total _ 353, 503
LIABILITIES
Capital stock paidin._ _Surplus -Undivided profits—netReserves for dividends, contingencies, etc. __Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits..__Agreements to repurchase United States Government or
other securities sold _Bills payable and rediscounts. _Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed by other banks for account of reporting
banksSecurities borrowed _Other liabilities
22,64510,1445,378
459
13510, 33721,160
158, 336121, 714
946802,156
2,126
112
Total. 353, 503
171, 551230
27,00467, 277
11,3092,080
14,1555,113
24, 657579508
172, 995177
27, 40369, 210
1011, 3612,210
14, 5374,736
31, 3801,519
509
203
916
325, 248 336, 986
22, 5209,8356,054
173
3009,885
13, 964140,151116, 869
292271, 276
4,984
3218
23, 24510,1965,343
497
14110, 05418, 900
142, 655119,951
1,007282,618
454,767
20
103
152
325, 248
175,181174
27, 73968, 376
1211, 3392,350
15, 3345,380
33,514788510
21,073
341,772
23, 73810, 4336,510
234
3539,979
16, 574151,249119, 433
1,011288,267
4151,540
122
341, 772
* Includes certified and cashiers' checks, and cash letters of credit and travelers'-checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BEPORT OF THE COMPTROLLER OF THE CURRENCY 435Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
CALIFOBNIA-Continued
LOS ANGELES
[In thousands of dollars]
Dec. 31,1928
9 banks
Mar. 27,1929
8 banks
June 29,1929
8 banks
Oct. 4,1929
7 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts. _.United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances :. _Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement.-.Securities borrowedOther assets
340,140508
76,45350, 31910,0658,7385,373
29,9267,068
63,1358,188
184
8, 672
"""2,935
Total. 611,704
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding. _ _Due to banks 1Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsAggreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
banksSecurities borrowedOther liabilities __..
25,75018, 57712, 2141,203
7033,593
46, 401219, 372254, 595
7,236527, 6O4
1501,900
8,67210,188
36
1,114
Total. 611, 704
346, 835424
69, 81148,4448,3938,7996,249
29, 5426,235
62,1224,696
204
4,248
' " "3 , " 206'
513,167316
99, 97883.198
6,43025, 918
1,27140,098
7,37668, 5429,786
204
475510
5,213
599, 208 862,482
26, 55018, 55613, 336
1,114
1, 8853, 969
37,875214, 331250, 836
5,648508, 690
44,00029, 0008,6264,769
7354,027
41, 776256, 237451,906
5,235755,154
4,788
4,2488,432
28
7,140
475
7,612
294510
1,466
599, 208 862,482
502,193330
96, 32974, 7875,786
25, 6651,001
39,1168,216
62,4429,379
243
461,1304,679
831, 342
42,00028, 8509,2882,994
3,3724,857
39,476248, 594430,431
3,685722, 186
9,730
465,525
2631,1301,101
831,342
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
436 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year^end^eidOctober 311 1929 {arranged by States and reserve cities)—Gtid
CALIFORNIA—Continued
OAKLAND
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
EESOURQES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc, ownedCustomers' liability account of acceptances _.Banking house, furniture and fixturesOther real estate owned.Reserve with Federal reserve bank.- _.Cash.in vault ^_Due from banks „ _ _ _Outside checks and other cash itemsRedemption fund and due from United States Treasurer._..Acceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets..
23,22122
4,87718
49248
2,518376
4,7882875
1,115134
22,9946
3,8674,678
1449347
2,211365
3,1037
75
312129
23,984
3,3764,654
1247839
2,477373
3,88325675
22,3483
3,4385,174
16480
832,238
4792,848
12475
Total _ 41, 550 38,301 38, 701
LIABILITIESCapital stock paid inSurplusUndivided profits—net „...Reserves for dividends, contingencies, etc - _Reserves for interest, taxes, and other expenses accrued and
Demand depositsTime deposits (including postal savings deposits)United States deposits — ,._.
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscounts ._.Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersOther liabilities
2,2001,6731,063
62
331,4836,825
19,9706,961
136S3,892
2,2001,6741,095
7
2,2001, 6761,213
113
41, 4674,42318, 5886,953
1029,97 A
181,4946,14918,9736,124319
81,666
1,1151811
1,549
312145
407
54
37,360
2,2001,6761,287
48
1,4684,869
18,1786,216
83$9,846
1,215
Total. 41,550 38,301 38, 701 37,360
1 Includes certified and cashiers' checks, and cash letters of credit and trarelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 437
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
CALIFORNIA—Continued
SAN FRANCISCO
[In thousands of dollars]
Dec. 31,1928
6 banks
Mar. 27,1929
6 banks
June 29,1929
6 banks
Oct. 4,1929
6 banks
RESOURCES
Loans and discounts (including rediscounts) _Overdrafts _ _ _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault....Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed __.Other assets ._
616,8721,134
249,92385,33122,47435, 289% 856
51,402% 361
106, 8104,741
973
15, 9161,1276,950
Total- 1,211,159
LIABILITIES
Capital stock paid in _„Surplus ,Undivided profits—net _Reserves for dividends, contingencies, etc«., _ T.__.Reserves for interest, taxes, and other espenses accrued and
unpaid __Circulating notes outstandingDue to banks1 . _Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits _Bills payable and rediscounts -_.Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers.. _ _Acceptances executed by other banks for account o£ report-
ing banksSecurities borrowedOther liabilities _
73, 50058, 30013, 689
2,41719,107
109, 638319, 183519, 60436, 744
985, 16917,608
15,91622, 707
4361,127
575
591, 722850
253, 28382, 58018, 04935,2243,722
45, 7498, 773
90,1124,334
973
14,1311,7328,374
611, 076897
229, 53894,32821, 86337, 5833,332
48,1319, 022
111, 9652,227
973
3,5721,3388, 075
682, 6021,780
215,51473,84330, 91738,3194,009
48, 6579,082
89,0711,9251,049
5,9851,4198,018
1,159, 6 1,183,920 1, 212,19®
76,00059,25016, 532
250
4,61719,13494, 732
300.138491, 735
17, 711904, SI 6
43,315
14,13118,362
7351,7321,234
76,00059, 25016, 494
595
2,34219,409
106, 612294, 899541, 711
27,593970,815
11,059
3,57221,700
7441,338
602
76.00059,25®16, 557
20,99484,552
315,238.507,97S
18,0709%5, me
67,135
5,98531, 25#
4611,4192,829
Total. 1, 211,159 1,159,608 1,183,920 1, 212,19«
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
438 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober Sly 1929 {arranged by States and reserve cities)—Continued
COLORADO
[In thousands of dollars]
Dec. 31,1928
114 banks
Mar. 27,1929
114 banks
June 29,1929
113 banks
Oct. 4,1929
112 banks
EESOURCE9
Loans and discounts (including rediscounts)Overdrafts _ _.United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate,owned _.Keservewith Federal reserve bankCash in vault ___Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowed _Other assets
Total-LIABILITIES
Capital stock paid inSurplus.Undivided profits—net -Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding.. _.Due to banks 1
Demand depositsTime deposits (including postal savings deposits)United States deposits -
Total depositsAgreements to repurchase United States Government or
other securities sold _Bills payable and rediscounts.._Securities borrowedOther liabilities. __
Total .
49, 72668
12,55019,5323,3441,1245,1082,710
14, 505275159
358
109,162
6,7003,315
78467
2023,1653,10953,52835,920
16698,723
332,163
109,162
50,700
13, 61119,3473,3681,0695,1272,79711,049
2311613
182
50, 58143
12,47418,9293,3511,0394,7092,5259,466242168342
107, 719 103, 572
6,7753,30187624
2793,181
51,39937,198
16491,629
301,609
312
6,7503,32181356
2703,3552,18347,35437,329
11086,976
121
107, 719 103, 572
51,87774
12,30918,2023,3391,0165,0902,72212,242
302166
76
107,419
6,7003,29295336
2743,2542,48052,25235,915
10790,754
552,093
4
107,419
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLEB OF THE CURRENCY 439
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
COLORADO—Continued
DENVER
[In thousands of dollars]
Dee. 31,1928
7 banks
Mar. 27,1929
6 banks
June 29,1929
6 banks
Oct. 4,1929
6 banks
RESOURCES
Loans and discounts (including rediscounts)--OverdraftsUnited States Government securities owned _ ._Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances __ __.Banking house, furniture and fixtures _Other real estate owned _Reserve with Federal reserve bankCash in vault.Due from banks _Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets
TotaL
LIABILITIES
Capital stock paid in __SurplusUndivided profits—net. __ „__.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding..Due to banks1..Demand deposits _Time deposits (including postal savings deposits)United States deposits
Total deposits _._Agreements to repurchase United States Government or
other securities sold _ __.Bills payable and rediscountsAcceptances exceuted for customersOther liabilites
Total.
74,42559
21, 30722, 930
2,238370
9,6752,768
25, 5911,373
33273
161, 042
5,1504,6872, 807
535650
22, 87970, 86852, 659
494146,900
174
"~53"
161, 042
77, 57450
21, 72022,075
142,367
3588,9132,651
20,14365033
384
71, 56866
20,18819, 948
2,435335
9,5672,369
21, 8861,554
33282
156, 932 150, 231
5,3:004,6753,197
61
556647
16, 35270, 34354,089
491W, 275
4007501457
5,3004,6753,201
120
530648
16, 71068, 99949, 250
365135, 324
20350
156, 932 150, 231
77, 24862
20,16718, 513
2,450340
9,0282,501
25,6281,359
33338
157, 667
5,3004,6753,561
68
106641
18, 94473, 38948, 736
301141, 370
1,875
157, 667
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°—30 29
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
440 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
COLORADO—Continued
PUEBLO
[In thousands of dollar]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _ _ .United States Government securities owned _Other bonds, stocks, securities, etc., owned.Banking house, furniture, and fixturesOther real estate ownedReserve with Federal reserve bank—Cash in vaultDue from banksOutside checks and other cash items _Redemption fund and due from United States Treasurer-
Total.LIABILITIES
Capital stock paid in_ .._Surplus. .__Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid.,Circulating notes outstandingDue to banks1
Demand depositsTime deposits (including postal savings deposits)United States deposits _
Total deposits _ _.Other liabilities _
Total.
4,99727
1,4374,836
344
1,091499
9,9863
29
23, 249
6001,150
27100
126397
6,2019,0215,587
2320,832
17
23,249
5,62960
1,5915,464
29643
959560
4,5845
21
5,45814
1,6115,314
29241
915504
3,5522
20
19, 212 17,723
6001,150
9318
158400
3,7507,5325,477
1516,774
19
6001,150
8022
132400
2,4037,2535,654
1915,829
10
19, 212 17, 723
4,90143
1,6825,025
29040
878469
4,4902733
17, 878
6001,150
12517
•164395
3,3396,6865,384
12is, m
17,878
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 441
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
CONNECTICUT[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)Overdrafts-United States Government securities owned.--Other bonds, stocks, securities, etc., owned-Customers' liability account of acceptances.Banking house, furniture and fixturesOther real estate owned.Reserve with Federal reserve bankCash in vault. _Due from banks _Outside checks and other cash items. _Redemption fund and due from United States Treasurer.Securities borrowedOther assets
Total.
LIABILITIES
Capital stock paid inSurplus _Undivided profits—net_._ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstanding _ _Due to banks *_Demand deposits--Time deposits (including postal savings deposits)United States deposits..
Tdtal depositsAgreements to repurchase United States Government or
other securities sold _Bills payable and rediscounts —Acceptances executed for customersAcceptances executed by other banks for account of reporting
Securities borrowed.Other liabilities
Total .
Dec. 31,1928
65 banks
199,44389
25,14951,753
311, 8662,967
12, 5776,814
27, 932655
715
340, 432
22, 57721,25911,062
842
1,3799,174
13,347152,71899,913
1,043267, 021
6,6483
467
340,432
M a r . 27,1929
65 b a n k s
203,72785
25,99150,395
20011, 9253,01012,8366,57319, 772
432
"648"
335, 997
22, 57721,30912,009
372
1,5419,186
11,130139,365104,368
1,589256,1+52
1259,786
200
335,997
J u n e 29,1929
64 b a n k s
202,693124
26,19447,249
25013,5081,470
12,6994,610
24, 748492490
676
335, 203
22, 50221, 31711,883
721
1,4339,754
12,887144,74399,227
1,376258,2S3
8,343150
100
767
335,203
Oct. 4,1929
62 b a n k s
198,194
m25, 54640,067
32511,4101,405
12, 7615,016
25, 727300485225434
321,991
20, 91219,89212, 736
266
1,4219,698
14,668143, 74589,774
1,358U9 H&
6, 554225
100225417
321, 991
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
442 EEPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
DELAWARE
[In thousands of dollars]
Dec. 31,1928
17 banks
Mar. 27,1929
18 banks
June 29,1929
17 banks
Oct. 4,1929
17 banks
BESOURCES
Loans and discounts (including rediscounts)-.Overdrafts.United States Government securities ownedOther bonds, stocks, securities, etc., owned _Banking house, furniture and fixtures- _Other real estate ownedReserve with Federal reserve bank _Cash in vault._ _ ._Due from banksOutside checks and other cash items.. ._Redemption fund and due from United States Treasurer . . .Other assets
Total..
LIABILITIES
Capital stock paid inSurplus. _ _Undivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid -_ __Circulating notes outstanding.Due to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsOther liabilities
Total
12,4274
2,0748,418
862106
1, 048485
1,445395113
26,972
13, 231
2,0767,908
950110
1,080431923535113
26,831
1,6542,4601,199
40
191,007
4529,2219,783
7419,530
9148
26,972 26,831
13,0765
2,0317,394
950111
1,000345
1,387415138
26, 429
1,6292,4821,166
261,008
6038,7029,566
6518,9861,117
2
26,429
13,8164
2,0117,1771,003
101980454'
1,367155124
27,003
1,6292,4821,300
40
25995445
10, 050:9,432
76;20,003
528I
27, 003
iIncludes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPORT OP THE COMPTROLLER OF THE CURRENCY 443Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
DISTRICT OF COLUMBIA
WASHINGTON
[In thousands of dollars]
Dec. 31,1928
12 banks
Mar. 27,1929
12 banks
June 29,1929
12 banks
Oct. 4,1929
12 banks
KESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned .__Reserve with Federal reserve bank _Cash in vaultDue from banks _Outside checks and other cash itemsRedemption fund and due from U. S. TreasurerSecurities borrowedOther assets __ --
Total
LIABILITIES
Capital stock paid in ,SurplusUndivided profits—net _ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding.__ _Due to banks * _Demand deposits _Time deposits (including postal savings deposits)United States deposits
Total deposits _ _Agreements to repurchase United States Government or
other securities soldBills payable and rediscounts. _.Acceptances executed by other banks for account of reporting
banks _Securities borrowedOther liabilities
Total __.
95,40628
20, 24613,488
110, 3631,4039,0053,443
18,160605179759549
173,635
10, 7758,3153,010
720
3453,861
16, 32074, 70944, 0063,330
138, 365
1,9635, 321
1759200
173, 635
97, 75745
22, 30213,174
95,15635
23, 20712,489
10, 4141,4559,4373,121
12,988473202965423
10,4281,4369,3072,799
16,477605247
1,140496
172, 756 173, 822
10, 7758,5653, 056
519
6743,997
13,19975, 74447,9533,936
W, 832
1603,043
10, 7758,8252,828
674
3924,891
13, 73175, 31746, 5073,660
139, 215
1954,715
965170
1,140172
3822, 83112, 044
10, 7051,4679,3213,202
15, 850437239
1,135487
176, 737
10, 7758,8252,876
2644,759
14,16077, 72349,170
1,924142, 977
1193,827
172, 756 173, 822
1,135324
176, 737
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
444 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
FLORIDA
fin thousands of doliarsi
Dec. 31,1928
59 banks
Mar. 27,1929
57 banks
June 29,1929
52 banks
Oct. 4,1929
50 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts *. _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances _Banking house, furniture and fixtures .>._Other real estate owned..,Reserve with Federal reserve bankCash in vault.. ... „Due from banks.__Outside checks and other cash itemsRedemption fund and due from United States Treasurer...Acceptances of other banks and bills of exchange or drafts
sold with indorsement- _. .-Securities borrowedOther assets „ .._
Total.._ .-
LIABILITIES
Capital stock paid in -SurplusUndivided profits—net—Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _.Circulating notes outstandingDue to banks l .» ,Demand deposits __Time deposits (including postal savings deposits) _ _United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold ~__Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement—Acceptances executed for customers ,_Acceptances executed by other banks for account of reporting
banksSecurities borrowedOther liabilities.
Tota l - . _
76,18118
18, 65328,267
1455,7821,2586,3904,525
18,234402195
45647
1,138
161,880
11, 7408,2841,718
204
1353,7909,132
59,42160,614
948ISO, 115
8233,880
4551
94647354
161,880
80,90819
20,03528,187
2015,6271,4397,1855,842
23,658165193
55455
63, 72412
17,98029,212
1695,4091,1685,8734,536
18,309263198
26483
1,071
174,908 148,433
11, 6408,2502,282
84
2643,8389,848
70,03761, 2842,684
US, 85S
6192,900
5561
140455467
10,6907,6101,914
243
1773,8508,241
53,43458,0161,255
120, U6
7901,502
2655
114483
33
174,908 148,433
56,28718
21,15625, 915
705,0651,2354,9064,787
12,848109181
2493
1,104
134,176
10,4607,5491,923
171
1873,4505,593
47,47250,1111,397
104, S73
1,3783,860
70493
60
134,176
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOKT OF THE COMPTROLLER OF THE CURRENCY 445
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued
FLOBID A—Continued
JACKSONVILLE
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)
United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault ._ ._ _Due from banksOutside checks and other cash items- ._ . . . . . .Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _. __ _-Other assets
Total
LIABILITIES
Capital stock paid inSurplus _. _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks1 -Demand depositsTime deposits (including postal savings deposits)United States deposits . . .
Total deposits— _ ._ _.Agreements to repurchase United States Government or
other securities sold - -Acceptances of other banks and bills of exchange or drafts
sold with indorsement . . _ _ ._ . _.Other liabilities
Total
Dec. 31,1928
3 banks
31,353Q
19, 30911 5953,243
2773,6921,068
13,85146648
294
85,001
4,5002,250
97859
88952
15,09525,91830,244
78778,044
4,096
232
85,001
Mar. 27,1929
3 banks
34,462
16,45711 2913,245
2774,7681,051
12, 73713948
450
84, 531
4,5002,2501,231
67
73934
15,65829,68828,578
71774,641
800
431
84, 531
June 29,1929
3 banks
33,769
17,04411 3873,257
2773,500
79610,178
42148
683
80, 767
4,5002,250
88253
224941
13, 57327,66927,845
99070,077
1,800
634
80,767
Oct. 4,1929
3 banks
33,196
15,0029 9183,258
2823,6821 0878,959
22148
554
75, 714
4,5002,250
84310
199920
10, 57427,32724, 3671,940
64,208
2,750
529
75, 714
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
446 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
GEORGIA
[In thousands of dollars]
Dec. 31,1928
77 banks
Mar. 27,1929
76 banks
June 29,1929
76 banks
Oct. 4,1929
75 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts ._.United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts sold
with indorsement _Securities borrowedOther assets
Total-
LIABILITIES
Capital stock paid inSurplus.- __. _Undivided profits—net. *Reserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and
unpaid. _Circulating notes outstanding __. _.Due to banks1--.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits _Bills payable and rediscounts..Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers _Securities borrowed _Other liabilities
Total—
51,090.282
10,1345,159
1872,8241,4683,4782,7678,391
315260
863
103
86,519
8,0555,3891,700
220
865,1772,487
33,12126, 3481,206
63,1622,444
18753
50, 423192
10, 3824,814
1742,8531,5983,0622,3146,061
174265
53121
82,486
8,0055, 3532,155
107
675,2581,722
29, 11126, 0361,753
2,665
1745327
86,519
51, 689167
9,6574,835
1822,8691,5642,9611,6535,471
257265
8,0055,3411,906
211
1235,2641,672
25, 7971, 584
55, 8435,231
1825339
81,698
49,564468
10, 0005,091
372,8921,5423,1972,4216,746
198265
73
82, 582
8,0055,2591, 865
159
5,1942,235
28, 37526, 6501,202
58, 4623,409
378826
82, 582
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OF THE CURRENCY 447
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
GEORGI A— Continued
ATLANTA
[In thousands of dollars]
Dec. 31,1928
3 banks
Mar. 27,1929
3 banks
June 29,1929
3 banks
Oct. 4,1929
3 banks
EESOURCES
Loans and discounts (including rediscounts) _Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances... _.Banking house, furniture and fixturesOther real estate owned _ _.Reserve with Federal reserve banks _Cash in vault _Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _Other assets.
62,57928
15,9878,970
303,002
5323,8591,124
23,897711125
15579
Total- 121,07J
LIABILITIESCapital stock paid inSurplus _ ___Undivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstandingDue to banks *_. _Demand deposits _ _Time deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers.._Securities borrowed _Other liabilities _
6,2004,6502,638
69
3592,458
20,43846,87933,8823,311
10/+, 510
30155
Total.
67,3638
16,3567,223
1212,990
5126,271
81618,821
235125
155182
67,6576
15,9755,495
2192,968
5216,801
82214,338
535125
185265236
121,178 116,148
6,4004,6502,887
5632,449
16,499
32, 0322,581
99,8003,870
6,4005,6501,782
290
4572,486
13, 08947,83232,366
5,11698, 403
12115514
185219265
11
70, 70910
11, 9804,838
1563,078
5295,8311,339
22,380372125
444265324
122,380
6,4005,6502,090
317
6062,436
17, 39049, 79330, 701
5,346103,230
in
444156285
11
121,078 121,178 116,148 122,380
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
448 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
GEORGIA—Continued
SAVANNAH
[In thousands of dollars]
Dec. 31,1928
1 bank
Mar. 27,1929
lbank
June 29,1929
l b a n k
Oct. 4,1929
l b a n k
RESOURCES
Loans and discounts (including rediscounts).Overdrafts _United States Government securities owned..Other bonds, stocks, securities, etc. owned. _.Customers' liability account of acceptances...Banking house, furniture and fixtures _.Other real estate ownedReserve with Federal reserve bank _Cash in vault —Due fron banksOutside checks and other cash itemsOther assets
50,33846
2,2782,028
111,278
9484,2902,008
13, 40295532
50,60236
1,7552,143
351,289
9473,5841,421
12,418763
50,07057
1,7302,144
391,281
9663,143
92211,307
75780
Total. 77,614 74,996 72,496
LIABILITIESCapital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid. . _..Due to banks i __Demand deposits _Time deposits (including postal savings deposits)United States deposits
Total deposits __Acceptances executed for customers _Acceptances executed by other banks for account of reporting
banksOther liabilities
4,0003,00088771
12615,57727,68125,872
38969, 519
11
4,0003,500579194
23713, 86527,23325,091
25266, W
4,0003,500588167
18610,22927,04125,859
88764,016
Total. 77,614 74,9% 72, 496
53,750117
1,6732,165
391,295
9733,8841,524
11,450823
4
77,697
5,0004,500
76474
21313,63128,59324,304
56767,095
3912
77, 697
1 Includes certified and cashiers' checks and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOET OF THE COMPTEOLLEE OF THE CUEEENCY 449Abstract of reports of condition of national banks at date of each call during year end-ed
October 31, 1929 (arranged by States and reserve cities)—Continued
THE TERRITORY OF HAWAII
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
1 bank
RESOURCES
I/oans and discounts (including rediscounts)Overdrafts _ _United States Government securities owned _.Other bonds, stocks, securities, etc., owned _..Banking house, furniture and fixturesCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _.Securities borrowedOther assets... _
3,9288
1,4482,426
58803
1,275
428
13156
Total . 10,561
LIABILITIES
Capital stock paid in.SurplusUndivided profits—net _Reserves for dividends, contingencies, etcBeserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding. _Due to banks1 - __Demand deposits •.Time deposits (including postal savings deposits)United States deposits
Total deposits _Bills payable and rediscounts.Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther liabilities
6008808323
7450
1,3863,461
8092,4738,129
250
131
Total. 10,561
3,70313
1,4062,325
58687767
122
17122
9,175
6008907424
5433730
3,126562
2,2506,668
250
171
9,175
3,742
1,4262,094
54878
1,281
22
13161
9,691
600890104111
7450975
3,066785
2,1656,991
400
1317
9,691
20,58025
1,9147,124
1732,2183,993
4723
327
36,431
3,1501,880
656337
83434
1,19711,13312,2892,590
27,M92,550
125
36, 431
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
450 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
IDAHO
[In thousands of dollars]
Dec. 31,1928
44 banks
Mar. 27,1929
43 banks
June 29,1929
43 banks
Oct. 4,1929
43 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts. _ _United States Government securities owned _Other bonds, stocks, securities, etc., owned _Banking house, furniture and fixtures _ _Other real estate owned _._Reserve with Federal reserve bank __Cash in vault _Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowedOther assets _ _ _
27,13469
6,5837,8682,008
5752,6841,2178,275
11590
Total. 56, 612
LIABILITIES
Capital stock paid in >.Surplus-._ _ . . . __.Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _ _ __Circulating notes outstanding.Due to banks i__ _Demand depositsTime deposits (including postal-savings deposits)United States deposits
Total deposits. _Bills payable and rediscountsSecurities borrowedOther liabilities
3,0301,202
295218
2931,4614,177
27, 55218,115
23960,083
30
Total. 56, 612
24,12754
5,8241,610
4972,0561,0984,896
7171
11
46, 383
2,7301,150
337
1,3792,208
21, 34716, 674
18840,417
106
46, 383
24,28348
5,2166,1821,859
398
8505,554
153711513
47,030
2,7301,152
308214
2531,3892,046
21, 65816, 689
8340, 476
492151
47,030
25, 75560
5,4166,1751,882
3652,083
9216,228
11171
20
49,087
2,7301,157
604192
2561,3702,891
23,05916, 252
8942, 291
486
49,087
i Includes certified and cashiers' checks and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 451
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
ILLINOIS
[In thousands of dollars]
Dec. 31,1828
447 banks
EESOURCES
Loans and discounts (including rediscounts)Overdrafts _ _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estateowned __Eeserye with Federal reserve bank..Cash in vault _ „Due from banks _ ...Outside checks and other cash items ,Redemption fund and due from United States Treasurer..Securities borrowed __ _Other assets ,
Total.
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid.. _ _ _ _.Circulating notes outstandingDue to banks 1
Demand depositsTime deposits (including postal savings deposits) _ _United States deposits.
Total deposits _Agreements to repurchase United States Government or
other securities soldBills payable and rediscounts _Acceptances executed for customersSecurities borrowed_..»__Other liabilities
307, 746383
72, 181124, 211
20, 6275,96525,99012, 89046,4931,9241,262238
1,070
620, 980
Total..
38, 55824, 93514, 1892,533
1,27325,04724, 884
235, 927241, 953
2,156504,920
3228,688
238277
620, 980
Mar. 27,1929
446 banks
312,120598
72, 307125, 751
20, 7706,074
25,03012, 06240, 419
1,0681,260
2341,252
618, 945
25, 19115, 2022,110
1,48624, 91023, 794
233, 693240, 178
3,260500, 925
7798,985
234363
618, 945
June 29,1929
445 banks
321, 759463
71, 214116, 281
20, 8376,300
25, 28810, 36145, 455
1,5161,260
2971,398
622, 429
25, 38513, 9802,696
1,06925, 03726,005
236, 454239, 413
2, 512604, 384
5589,811
297252
622, 429
Oct. 4,1929
442 banks
324, 903601
67, 929117,178
421,2066,342
25, 23612,41442, 7461,2971,260
244972
622, 332
39, 99525,65016, 4482,184
1,43624, 87825,080234, 362239, 6982, 759
501, 899
9,046
244243
622? 332
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
452 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
ILLINOIS—Continued
CHICAGO (CENTRAL RESERVE CITY BANKS)
[In thousands of dollars]
Dec. 31,1928
10 banks
Mar. 27,1929
10 banks
June 29,1929
12 banks
Oct. 4,1929
13 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts '.United States Government securities owned
.Other bonds, stocks, securities,etc., owned _Customers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash items.Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts sold
with indorsementSecurities borrowedOther assets
839,56589
64,926102,06623,85227,100
313104,979
7,387185,370
3,120310
9,237
"~~2,~688"
Total _ 1,371,002
Capital stock paid in _Surplus _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid : -_Circulating notes outstandingDue to banks 1 - _Demand deposits . - _.Time deposits (including postal savings deposits)United States deposits _ _ _._
Total deposits _Agreements to repurchase United States Government or
other securities sold_._ _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts sold
with indorsementAcceptances executed for customers. _Acceptances executed by other banks for account of reporting
banksSecurities borrowed .._Other liabilities
66,55053,03018,3347,248
6,5016,118
264,287654,837197,059
4,362, no, 545
4,50051,285
9,23723,934
814
2,906
Total_ 1,371,002
500,911139
19,92716, 541
12558,8865,067
86,317909310
1,07415,0002,250
519,121537
36, 51248,50018, 55516,935
12559,6934,940
114,766652310
2,141
768,614 823, 750
42,05028,33011,8215,901
4,6846,200
148, 506350,25889,42523,390611,579
5,50012,774
1,07420,185
43915,0003,077
45, 75034,8007,9125,817
5,4556,198
142,240391,992126, 5619,576
670,369
3,75020,475
96318, 668
381
3,212
768,614 823,750
530,916208
34, 77244,95136,27219,017
27863,5145,402
110,115578310
2,004
854,973
49,05035,3508,0493,787
5,7386,090
145,079402,502131,7026,458
686,741
50013,919
5,93835,877
979698
3,257
854,973
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 453Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
ILLINOIS—Continued
CHICAGO (OTHER RESERVE CITY BANKS)
[In thousands of dollars]
Dec. 31,1928
27 banks
Mar. 27,1929
27 banks
June 29,1929
Oct. 4,1929
26 banks 25 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bankCash in vault -Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets
53,89121
12,20533,838
52,966
8715,9302,6768,358
326154
630
Total . 121,871
LIABILITIES
Capital stock paid inSurplus _Undivided profits—net _-.Reserves for dividends, contingencies, etc _. _Reserves for interest, taxes, and other expenses accrued and
unpaid..Circulating notes outstandingDue to banks * __ __Demand depositsTime deposits (including postal savings deposits)United States deposits _.
Total deposits..Bills payable and rediscounts _.Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
banks -.._Other liabilities
6,8503,4951,509
484
3623,0252,756
39, 26062,190
424104, 680
1,145
5366
Total. 121,871
55,11330
11,18232, 750
3,362399
5,6752, 2216,067
274155
4643
55,36340
10,28932, 357
83,525
7855,6002,3186,448
236149
667
117,875 117, 785
6,8503,5551,661
368
5573,0622,588
35, 65761,296
35599, 865
1,595
6,9003,3101,346
472
4972,8752,095
35,16564,073
205101,538
509
3583
330
117,875 117, 785
57,34034
9,33930,437
53,531
6965,5552,7117,133
268134
631
117, 814
6,800
1,549552
2,6062,384
35,39762, 781
155100, 717
1,079
2357
117,814
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
454 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
ILLINOIS—Continued
PEORIA
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
Oct. 4,1929
4 banks 4 banks
RESOUECES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned._Other bonds, stocks, securities, etc., owned ,Banking house, furniture and fixtures _ _..Other real estate ownedReserve with Federal reserve bank _Cash in vault _Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer-Other assets
Total-
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid. _.Circulating notes outstanding..Due to banks1 _ __.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits.^.Bills payable and rediscounts .._Other liabilities
Total -
20,11715
5,7926,5752,428
262,073
7153,704
62
41, 605
2,4753,375
902308
1,8314,836
14, 95912, 588
26032, 643
41, 605
20, 80917
5,8006,4772,428
262,046
7562,400
49924
40, 904
2, 5753,475
672421
931,8454,30215, 31211, 831
378SI, 823
40, 904
20, 75714
5,7756,6512,440
252,120523
3,2032892
41,634
2,5753,475795294
761,8393,90114, 87313, 239
26732, 280
300
41, 634
21, 46474
5,3466,1102,448
302,009717
3, 03557
2,5753,575764390
1221,8223,98914,14713, 451
14931,736
4002
41,3
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPOET OF THE COMPTEOLLER OF THE CURRENCY 455Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 (arranged by States and reserve cities)—Continued
INDIANA
[In thousands of dollars]
! Dec. 31,
! 220 banks
Mar. 27,1929
218 banks
June 29,1929
220 banks
Oct. 4,1929
217 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned ___Banking house, furniture and fixtures _ _Other real estate ownedReserve with Federal reserve bank....Cash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowedOther assets
Total.
LIABILITIESCapital stock paid in _Surplus _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid.... _ ._.Circulating notes outstandingDue to banks * ._Demand deposits _.Time deposits (including postal savings deposits)United States deposits
Total deposits * '.Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsSecurities borrowedOther liabilities
Total.
196,374163
36, 62562,96613, 3773,192
15,0178,951
30, 601856905734
2,205
371, 966
25,11314,9355,584
761
47018,00918, 510
139, 229138, 774
950297, A6S
3497,011
7341,537
371, 966
194, 359160
36,06161,90413, 3853,444
13, 7918,391
22, 716450908747
2,141
200,127135
35,41961,07913,5013,579
14,4536,635
26,041825905740
2,109
358,457 I 365,548
24, 98314,9116,215
413
62217, 87715, 240
125, 292137,486
2,065280, 08S
42010, 380
7471,806
358, 457
25,28315,0675,913
720
46718,00516, 662
134,015137, 350
1,491289,518
1808,105
7401,550
365, 548
197,097186
35,38360,38513, sm3,168
14, 2148,287
24,472579
2,087
361,277
25,03215,0487,197
61017,73913,491
131,608136, 210
1,278282,587
12510,175
6901,736
361, 277
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°—30 30
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
456 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober Sly 1929 {arranged by States and reserve cities)—Continued
INDIANA—Continued
INDIANAPOLIS
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts) * .Overdrafts.. __ - .United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances__Banking house, furniture and fixturesOther real estate owned-Reserve with Federal reserve bank__Cash in vaul t - - .Due from banks . - - _Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowed __.Other assets
Tota l .
LIABILITIES
Capital stock paid in _ __.Suplus- _Undivided profits—net .__-Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid to __.Circulating notes outstanding _Due to banks 1 _.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold _. _Bills payable and rediscountsAcceptances executed for customers. . .Securities borrowedOther liabilities.. _ _
Total _
56,09410
10,6309,272
163,491
1965,8773,137
20, 442637192563113
110, 670
7,6503,1503,022
132
3963, 836
23,01352, 83813, 7221,193
90,766
1,12216
17
110, 670
56,1735
10,5839,063
123,491
1985,2273,107
12, 438362182563132
56,61413
10,8518,095
193,491
1976,5412,636
15,376423191557119
101, 536 104,123
7,6503,1503,077
3453,70115, 58646, 53512,737
74875,606
3506,971
1256316
7,6503,1503,104
54
3283,82917,22651,01413, 3521,645
83,287
2,02619557169
101, 536 104,123
58,71012
10,1668,565735
3,491213
5,0662,99512,793
50117255792
104,068
7,6503,1503,244
60
4263,67216, 59748, 32013,4981,831
4,320735557
104,068
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTRQJuLER OP THE CURRENCY 457
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
IOWA
[la thousands of dollars]
Dec. 31,1928
257 banks
Mar. 27,1929
253 banks
June 29,
252 banks
Oct. 4,1929
247 banks
RESOURCES '
Loans and discounts (including rediscounts)Overdrafts *-__United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures -Other real estate owned _.. _Reserve with Federal reserve bank.Cash in vault _ - -Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowed..Other assets
Total--.
LIABILITIESCapital stock paid m . l - . . _Surplus _Undivided profits—netReserves for dividends,contingencies, etc.__Reserves for interest, taxes, and other expenses accrued and
unpaid .Circulating notes outstandingDue to banks J__Demand depositsTime deposits (including postal savings deposits)United States deposits. __
Total deposits___w _Agreements to repurchase United States Government or
other securities sold ..._.Bills payable and rediscounts. . —Securities borrowedOther l iabi l i t ies . . - . . _ ._.
Total
126,847172
27,86235,4847,5995,538
10,0155,424
24, 738413557
6122
244, 777
16,4907,621% 523
382
22111,08411,91391,005
100,166270
203,354
192,740
6337
244, 777
127, 598266
30,23236,1477,5735,306
10,6615,356
20, 619406556
6232
244,958
16, 3057,3153,140
260
24011,03711, 50293, 50398, 570
620204,195
124,000155
29,08235,7437,6165,2579,8924,589
20,378438557
84
237, 791
16, 2807,2772,889
255
25111,10010, 11188,321
524197,805
2,1306
330
1, 654
280
244, 958
125,448301
28,71035,7287,5834,975
10,1634,819
21,000393547
159
239,826
15, 9807,1223,406
226
26910,7689,241
93, 50296,834
759W0,33$
1,445
" 2 7 4
237,791 i 239,826
1 Includes certified and cashiers' €hecks, and cash letters of credit and travelers' cheeks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
458 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued
IOWA—Continued
CEDAR RAPIDS
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
KESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures...Other real estate owned.. ___•_Reserve with Federal reserve bankCash in vault.__Due from banksOutside checks and other cash items.. _Redemption fund and due from United States Treasurer.Other assets ,
Total.
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _Reserves for dividends, contingencies, etcReserve for interest, taxes, and other expenses accrued and
unpaid._____ _ ___Circulating notes outstandingDue to banks *_ _Demand deposits _.Time deposits (including postal savings deposits)United States deposits
Total deposits ._Bills payable and rediscountsAcceptances executed for customersOther liabilities _
Tota l .
13,4116
2,1286,255
41,284
371, 653
4555,757
97501
31,138
1,10075011041
• 324996
10, 7318,1448,928
927, 812
31,138
14, 81512
2,1205,758
121,292
371,696
4274,392
7950
1,10075016535
379993
10,1037,8558,934
1426,906
35012
30, 690
13, 72515
2,1335,382
121,344
371,837
3534,810
20650
29,904
1,10075013010
397998
9,2588,0528,735
1226,057
45012
29,904
15,57629
2,|005,045
131,344
381,444
3865,056
1650
31,097
1,100750193
16
453$90
9,8058,8528,243
SO'86,980
650132
31,097
* Includes certified and cashiers' cbcecks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 459Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
IOWA—Continued
DES MOINES
[In thousands of dollars]
Dec. 31,1928
3 banks
Mar. 27,1929
3 banks
June 29,1929
4 banks
Oct. 4,1929
3 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsTJnited States Government securities owned. _Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances. _Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank— ___Cash in vault _--Due from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowed
TotaL
LIABILITIES
Capital stock paid inSurplus -_Undivided profits—net-Reserves for interest, taxes, and other expenses accrued and
unpaid __Circulating notes outstandingDue to banks * _ _Demand deposits._Time deposits (including postal savings deposits) _United States deposits .-_ _
Total deposits.—Bills payable and rediscountsAcceptances executed by other banks for account of report-
ing banks. __Securities borrowed
21,52833
4,1376,103
608774
2,327775
5.794' 84
28488
42, 679
2,7001,200
219
5549,765
20,4005,399
22585, 789
1,729
488
TotaL 42, 679
20, 29017
4,1206,585
7812,3411,0124,447
3328
500
40, 763
2,7001,200
341
20549
9,01520,106
5,100716
34,987516
500
40, 763
24, 90423
4,4909,070
10797838
3,3681. 0336,442
6728
51, 570
2,9501,450
361
1554
10,81023,9437,728
417Jfi, 898
2,846
10500
51, 570
27,86851
4,93110,205
71,339
713,9901,2897,633
2228
410
57,844
2,7501,450
655
85556
11,04925,26213,460
53560,806
1,625
7410
57,844
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
460 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
IO WA- Continued
DUBUQUE
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., owned ._Banking house, furniture, and fixturesOther real estate owned _ -..Eeserye with Federal reserve bankCash in vault_._Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets _ _
Total.
LIABILITIES
Capital stock paid in _._ _SurplusUndivided profits—netReserves for dividends, contingencies, etc__Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks L_.Demand deposits _Time deposits (including postal savings deposits)United States deposits
Total depositsOther liabilities
Total.
5,6712
1,7143,726
260120720261
1,082292076
13, 681
700300143
• 18
6398932
4,2706,911
312,116
5,887
1,7703,711
261120622243611
292051
5,456
1,7543,748
262143695204936
212079
13,332 13, 322
700300193
18
20398
1,1043,7366,859
311, 702
1
70030016429
12397
6,8853
11,7191
13,681 13, 332 13, 322
5,2435
1,5533,666
262140670216
1,033332048
12, 889
70030022126
35893815
3,7536,643
311, tU
12, 889
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 461
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
IOWA—Continued
SIOUX CITY
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
5 banks
Loans and discounts (including rediscounts)Overdrafts _ _United States Government securities owned.Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate owned __Reserve with Federal reserve bankCash in vaultDue from banks.Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets
Total.
LIABILITIES
Capital stock paid in _Surplus.... _Undivided profits—netReserves for dividends, contingencies, etc jReserves for interest, taxes, and other expenses accrued and
unpaid {Circulating notes outstanding jDue to banks iDemand depositsTime deposits (including postal savings deposits)United States deposits ._ _
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscounts _Other liabilities
•Total .
16, 59119
3,4263,935
923137
1,748640
5,5712315463
33, 338
2,05060013128
451,0698,83811,0148,207203
28, 262
15096340
16,63932
3,8204,174924142
1,690730
5,287805470
2,05060024125
471,0699,75510,6438,358391
29,147
435
33,338 33,642
16, 51224
4,0264,159928132
1,771544
5,0731095470
33, 642 I 33, 402
2,05060022643
1,0729,77710,2978,133453
67726
33,402
16,05136
3,9034,309930132
1,765655
5,235655464
33,199
2, 05064523147
431,0608,42210,9678,347365
28,101
33
33,199
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
462 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
KANSAS
[In thousands of dollars]
Dec. 31,1928
237 banks
Mar. 27,1929
236 banks
June 29,1929
236 banks
Oct. 4,1929
236 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities owned _._Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures _._.Other real estate owned _ ___.Reserve with Federal reserve bankCash in vault .Due from banks _ _ _Outside checks and other cash items. _Redemption fund and due from United States Treasurer—..Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed ___Other assets ,
Total ,
LIABILITIES
Capital stock paid inSurplus .--.Undivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _. _Circulating notes outstanding. _Due to banks 1 -Demand deposits _.Time deposits (including postal savings deposits) __United States deposits...
7 otal depositsAgreements to repurchase United States Government or
other securities sold _Bills payable and rediscounts _Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed __ ,Other liabilities ,
Total . _.
100,908168
23, 27023, 5795,8591,9469,3443,799
25, 747381411
255
140
195, 609
13,0836,4702,481
322
1008,146
10,319104, 75744,8711,572
161,619
1993,167
25565
195,609
97, 359239
24, 73122, 8695,8641,8169,0533,738
20,144229407
98, 465194
23, 11122, 7335,8591, "'"
3,62321,812
244409
315171
113327
186, 935 187, 430
13,0736,4972,943
149
1098,099
10,19698,00443, 4542,220
158,874
120
13,0476,5262,864
315
948,1679,560
99,29342, 7871,311
152,951
319
31557
11351
186,935 187,430
97, 506255
24,87123,424, 5,840
1,6479,289
22,635378414
141173
190,371
13,1026,5783,618
178
8,13310,386
101,93443,1641,001
156,486
1201,862
14155
190,371
»Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 463Abstract of reports of condition of national banks at date of each call during year ended
October SI 1929 {arranged by States and reserve cities)—Continued
KANSAS—Continued
KANSAS CITY, KANS.
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
BESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned. _Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankGash in vaultDue from banks. _ _Outside checks and other cash items. _ ___Redemption fund and due from United States Treasurer.,Other assets -
7,51410
863831
22810175
2,4001940
2
7,137
3,125821829
12837212
1, 51118540
Total. 15,615
LIABILITIES
Capital stock paid inSurplus.Undivided profits—net•Reserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstanding -Due to banks *__Demand deposits. _ _Time deposits (including postal savings deposits)United States deposits
Total deposits ,Bills payable and rediscounts
950320
795
6,1483,290
160IS, 467
14,710
950320
68
15790
3,3125,254
38512,287
TotaL 15,615 14,710
8,0042
2,8391,165
82524
863104
1,7901240
15, 668
950320
8003,1936,5733,338
15418,868
250
15, 668
7,9251
2,7531,202
82223
813117
2,04816402
15, 762
95032064
15778
3,7884,8343,321
3711,9801,655
15, 762
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
464 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities}—Continued
KANSAS—Continued
TOPEKA
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts) _.OverdraftsUnited States Government securities owned _.Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures..Other real estate owned.._Reserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer..Other assets.._ _
Total.LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and
unpaid—Circulating notes outstandingDue to banks L .Demand deposits._Time deposits (including postal savings deposits)United States deposits _
Total deposits _Bills payable and rediscounts.Other liabilities
7,1479
4,8094,781
5S812
1,550447
3,980873016
23,456
1,45046538724
3595
3,24114,2562,598
426SO, 521
11
Total _ 23,456
8,0684
4,9044,359
58921
1,560565
2,426163017
22, 559
1,45046541126
4592
3,14713,3882,557
50619,598
9,0504
4,8404,484
59a25
1,769466
5,659813016
27,014
1,45046539036
11598
3,25217,9122,486
40324,058
13 11
22,559 27,014
7,66525
4,4003,792
54313
1,398457
3,1586325
21, 557
1,35044045523
15489
3,90911,9112,168
43618, m
35011
21, 557
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BEPOBT OF THE COMPTBOLLEB OP THE CUBBENCY 465Abstract of reports of condition of national banks at date of each call during year ended
October SI, 1929 (arranged by States and reserve cities)—Continued
KANSAS—Continued
WICHITA
[In thousands of dollars]
BESOURCES
Loans and discounts (including rediscounts) _OverdraftsUnited States Government securities owned.Other bonds, stocks, securities, etc., owned...Banking house, furniture and fixturesOther real estate ownedBeserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsOther assets.
Total.
LIABILITIESCapital stock paid inSurplus . . -Undivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid __ _Due to banks *_ . . -„Demand deposits _.._ _Time deposits (including postal savings deposits)United States deposits _
Total depositsBills payable and rediscountsOtberliabilities
Total _
Dec. 31,1928
4 banks
16,5503
4,9667,5101,950
2,956557
8,48612999
43, 206
2,4001,280
215
30110,91220,9896,975
65
43, 206
Mar. 27,1929
4 banks
18,7379
4,2956,8011,860
52,256
6396,367
1385
41,067
2,4001,290
338
3538,322
20, 5267,523
24236,613
41,067
June 29,1929
4 banks
19,64711
2,9257,7081,811
72,919
4907,036
961
42,624
2,4001,300
34910
3578,595
21,7577,190
14587,687
441
42,624
Oct. 4,1929
4 banks
19,85311
2,9847,5141,721
62,400
6297,014
6161
42, 254
2,4001,300
401
4499,447
20,6047,347
12237,5m
10084
42, 254
1 Includes certified and cashiers' checks, and cash letters of credit and traveler^' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
466 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
KENTUCKY
[In thousands of dollars]
Dec. 31,1928
136 banks
Mar. 27,1929
135 banks
June 29,1929
135 banks 135 banks
Oct. 4,1929
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bank,Cash in vaultpue from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther assets
' Total..
LIABILITIES
Capital stock paid inSurplus. __"Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding _..pue to banks1 _Pemand deposits.Time deposits (including postal savings deposits)United States deposits
Total deposits _ ___Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
banksSecurities borrowedOther liabilities
Total _
115,238161
16,86124,002
385,9561,0327,7593,67516, 762
411601
40173189
192,898
14,24610,4042,871
311
11, 7355,046
78,98365,918
293160,240
792,091
40
17375
192,898
114,794225
17,13924,850
475,9431,2237,7183,60810,618
213562
114,610138
16,52424,696
5,9691,2557,9102,67010,488
268567
45183194
158176
187,362 185,497
13,44610,2873,764
308
52211,1124,459
72, 74167,507
438145,145
13, 52110, 3453,034
522
11,2763,578
2,375
456
47183122
310140,748
605,033
15876
187,362 185,497
114,986196
16,37723,918
138,6,0641,231
3,oai8,234
189661
143103
182,096
13,52110,3043,785
372
60511,1362; 728
65,04767,551
218186,644
1006,338
33
182,096
* Includes certified and cashiers' checks, and cash letters of credit and traveler's checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 467
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
KENTUCKY—Continued
LOUISVILLE
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
3 banks
Oct. 4,1929
3 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned-__Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures. ___Other real estate owned.. -Reserve with Federal reserve bank _Cash in vault ..Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _-Securities borrowed-Other assets -
Total -
LIABILITIES
Capital stock paid in -Surplus. ._. -.Undivided profits—netReserves for dividends, contingencies, etc. _ _Reserves for interest, taxes, and other expenses accrued and
unpaid..Circulating notes outstandingDue to banks 1. -Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits ._Agreements to repurchase United States Government or
other securities soldBills payable and rediscounts.--Acceptances of other banks and bills of exchange or drafts
sold with indorsement -Acceptances executed for customers _ _Securities borrowed.. -Other liabilities
Total.. _-— -
76,11026
17,95415, 832
2161,335
735,674
97916,842
435225
634441638
137,414
6, 2505,0001, 430
525
4544,395
27,83549,04827, 227
235104,845
20012,983
634216441541
74, 975136
17,43212,932
1381,422
845,998
84913, 679
119225
391637
66,44540
15,4049,880
130870
124,403
69413,187
227200
1,008961506
129,825 113,967
6,2505,2501,680
343
4304,488
23,04444,15027, 637
92395,754
20013,455
138391
5,5004,7501,080
537
4753,972
21, 23334, 29421,697
87278,096
1,06115, 775
1,008130961622
137,414 129,825 113,967
70, 786182
15,4719,876
16888412
4,7131,066
13,654544200
912891427
119, 786
5,5004,7501,258
349
6523,873
17,02037,48728,825
667
1,26015, 551
912168891623
119, 786
i Includes certified and cashiers' ehecks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
468 &EPOBT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports >oj condition &f national banks <3& date of each call during year endedOctober 81, 1929 (arranged by States and reserve cities)-—Continued
^LOUISIANA
[In thousands df dollars!
Dec. 31,1928
32 banks
Mar. 27,
32 banks
June 29,1929
32 banks
Oct. 4,1929
33 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts - ^United States Government securities owned—Other bonds, stocks, securities, etc., owned.Customers' liability account of acceptancesBanking house, furniture and fixtures „ _Other real estate owned..Reserve with Federal reserve bank...Cash in vault __..Due from banks. _Outside checks and other cash itemsRedemption fund and due from United States Treasurer.._.Acceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets
Total -
LIABILITIESCapital stock paid in —Surplus. _ .-•**.Undivided profits—net ,Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstandingDue to banks *_ „ _..Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscounts. •_.Acceptances of other banks and bills of exchange or drafts
sold with indorsement .Acceptances executed for customersOther liabilities.. „
Total
56,67249
5,3594,698
2004,1781,1503,8261,853
13,216313142
44395
92,095
6,9503,124
695171
1382,77611,81944,99619,444
28876,547
937
44.200513
55,76692
5,4484,549
454,2531,1283,2891,7617,446
278167
5323
84, 550
6,9503,128
993104
2143,3077,336
38,13919,800
63865, MS3,136
545
755
56,25548
6,0254,538
4,4131,2342,9311,1827,339
265172
9351
83, 762
6,9503,127
948274
2533,4077,359
38,36719,453
59766,7762,464
1334,4655,039
44,4371,196
1,64711,261
364171
351
89,614
7,0003,1381,040
2883,3729,78240,05019,366
39069,5884,487
92,095 84,550 83,762 89,614
1 Includes certified and cashiers' checks, and cash letters of credit and travelers* checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OF THE CURRENCY 469Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
LOUISIANA—Continued
NEW ORLEANS
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts) _Overdrafts _ ._.United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances—Banking house, furniture and fixtures _Other real estate owned _Reserve with Federal reserve bank _ -Cash in vault-..Due from banks___ _Outside checks and other cash items__Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement ._Other assets __.
TotaL
LIABILITIES
Capital stock paid in ,SurplusUndivided profits—net __ -Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid— _.__ _Circulating notes outstanding,Due to banks L__ *—«,...Demand deposits «_„Time deposits (including postal-savings deposits)United States deposits._____.» „
Total deposits „Bills payable and rediscounts..............Acceptances of other banks and bills of exchange or drafts sold
with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
banksOther liabilities _ _.
Total.
Dec. 31,1928
1 bank
30,53021
4,6591,4452,3123, 699
603,011
4387, 543
28978
1,83684
56,005
2,8002,200
730
1441,5419,837
26, 9342, 841
. 1.28540,8972,535
1,8362,917
185122
56,005
Mar. 27,1929
1 bank
28,85235
5,4151,3892,9153,704
302,454
3845,394
14140
1,39312
52,131
2,8002,200
78898
1282, 7817,881
23,4293,4552,892
S7,657
1,3933,952
211123
52,131
June 29,1929
1 bank
30,534165
5,3331,5041,8793,671
302,875313
4,819158140
1,88989
53, 399
Oct. 4,1929
I b a n k
2,438 I
174 i136 j
53,399 I
32,50934
4,4291,4802,7513,671
1062,701
420
24140
3,30027
58, 272
2,8002,20080798
2712,8007,30423,4852,8142,942
36,5A53,241
1.889
2.8002,200929
1332,7798,87823,0501,7953,05486, 7775,469
3. 3003,719
29137
58, 272
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
470 EEPQET OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
MAINE
lln thousands of dollars]
Dec. 31,1928
54 banks
Mar. 27,1929
54 banks
June 29,1929
53 banks
Oct. 41929
53 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts.. --United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate owned __. _Reserve with Federal reserve bankCash in vault _ _Due from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerOther assets
Total. _- -
LIABILITIES
Capital stock paid in _ _Surplus _Undivided profits—net ..- _Reserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and
unpaid _ ,Circulating notes outstanding __ _Due to banks1
.Demand depositsTimedeUnited S'tates deposits
Total depositsBills payable and rediscountsOther liabilities
Total _
77, 61224
10, 41457,4322,337
2955,4712,1397,295
546265267
164, 097
• 7,5206,8095,760
558
5265,2272,906
34, 39897,076
201184,581
3,1115
164,097
80, 11127
10, 37956,1772,358
3045,4942,0285,220
358265285
76, 24221
9,82154, 2162,324
2845,3561,5325,423
430245147
163,006 156, 041
7,5206,8096,501
355
6145,2242,417
32, 89197,463
310188,081
7,2206,8155,994
622
4624,8482,547
31, 20891,122
311125,188
4,8893
163,006 156, 041
79,47529
10, 25253,4942,352
3265,7681,8696,925
347245166
161,248
7,2207,1756,223
448
5764,8502,916
36,19791,791
787181,691
3,04817
161, 248
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BEPORT OP THE COMPTROLLER OP THE CURRENCY 471Abstract of reports of condition of national banks at date of each call during year ended
October SI, 1929 {arranged by States and reserve cities)—Continued
MARYLAND
[In thousands of dollars]
Dec. 31,1928
75 banks
Mar. 27,1929
75 banks
June 29,1929
75 banks
Oct. 4,1929
75 banks
BESOURCES
Loans and discounts (including rediscounts)...Overdrafts .United States Government securities owned _'_Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer..Securities borrowedOther assets _
64, 21651
7,34440, 054
64, 29054
7,52340,156
2,742832
4,3461,8133,791
176192
6144
2,762826
4,3011,6033,154
79192
6137
65, 55340
7,55539, 315
52,767
9414,3311,3994,113
146193
156
Total.
LIABILITIESCapital stock paid inSurplus -.Undivided profits—net_____ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstandingDue to banks1 .._Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits^.Bills payable and rediscounts _Acceptances executed by other banks for account of reporting
banks _ _Securities borrowedOther liabilities
125, 707 125, 083 126, 514
5, 5348,1712,376
232
1203, 8141,095
26, 35675,405
96102, 952
2,481
5, 5848,1862,928
153
1503,804
84325, 56975, 550
60102, 022
2,213
5,6598,3012,483
269
1673,8441,151
26, 32275, 735
84108, 292
2,460
21 37 34
Total . 125, 707 125,083 126, 514
68, 00262
7,89839, 620
2,789987
4,9641,7345,770
101193
129
132, 249
5,6598,3143,100
2543,8051,378
30,77777,225
56109,488
1,467
21
132, 249
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°—30 31
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
472 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 (arranged by States and reserve cities)-*—Continued
MARYL AND—Continued
BALTIMORE
[In thousands of dollars]
Dec. 31,1928
8 banks
Mar. 27,1929
7 banks
June 29,1929
7 banks
Oct. 4,1929
7 banks
RESOURCES
Loans and discounts (including rediscounts) - _Overdrafts- _._ ....United States Government securities owned ,Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures _Other real estate owned... _Easerve with Federal reserve bank _._Cash in vault -Due from banks.Outside checks and other cash items.Eedemption fund and due from United States TreasurerOther assets
Total _ . . .
LIABILITIES
Capital stock paid in —Surplus _Undivided profits—netReserves for dividends, contingencies, etc..Reserves for interest, taxes, and other expenses accrued and
unpaid. _Circulating notes outstanding.Due to banks *_. _Demand depositsTime deposits (including postal savings deposits)United States deposits ___.
Total deposits... - . .Bills payable and rediscounts __Acceptances executed for customers-__ _ _Other liabilities
Total _..-
95,7717
13,66119,556
2875,250
323
33,7993,923
204
184,215
9,7008,8503,615
5824,06133,75273,816
1,525U8,0917,800287594
83,0322
12,92318,801
279
7,1161,80323,670
180179733
87,422
11,74718,870
2384,671436
6,9531,313
27,784789179538
153,842 160,944
8,7008,2003,703537
5053,51224,08658,12835,2462,999
120,4697,306279641
8,7008,2003,461851
6183,55530,61358,78035,6245,581
130,5984,209238614
184,215 153,842 160, 944
93, 517
11,73018,759
3774,684476
8,1941,69922,770
301177502
163,190
8,9008,4003,684
3,51527,66461,20137,0834, 639
180,6876,213
377662
163,190
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPOET OF THE COMPTROLLER OF THE CURRENCY 473
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued
MASSACHUSETTS
[la thousands of dollars]
Dec. 31,
144 banks
Mar. 27,1929
144 banks
June 29*1929
145 banks
Oct. 4,1929
144 banks
Loans and discounts (including rediscounts) -OverdraftsUnited States Government securities owned..Other bonds, stocks, securities, etc., owned..Customers' liability account of acceptances..Banking house, furniture and fixtures.Other real estate owned .Reserve with Federal reserve bank..,Gash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer....Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther assets ,
TotaL
LIABILITIES
Capital stock paid inSurplusUndivided profits—net...Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstandingDue to banksl-Demand deposits _ _Time deposits (including postal savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold » __.__Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers _Acceptances executed by other banks for account of reporting
banks.Securities borrowedOther liabilities ^
289,07677
44,332138, 239
3213,8931,503
20,09211,82126,954
986754
230
1,025
548,816
28,13826,76017, 245
1,726
1,48014,81320,428
213, 265212, 002
848
1,6509,657
295,22479
135,16430
14, 5301,357
21,31210,08321,133
682772
330
1,213
296,627111
46, 655132,825
26615,170
1,21221,0626,932
22,093760786
230
1,130
548, 501 545, 661
28,38827,09619,0061,043
1,63915,14117,011
202, 052218, 073
1,079488,215
1,50015,585
330
29,03828,49318,1161,778
1,75015,54517,127
197,865215,893
903431,788
1,20017,017
30734
30825
30
Total _ 548,816 548,501 545,661
311,16699
45,851129,985
22815,3821,134
22,3218,633
25,308809788
130
1,369
563,104
29,06328, 54619,8431,186
1, 55415,70218, 621
212,017218,938
2,214451,790
80013,436
1221
730
925
563,104
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
474 EEPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
MASSACHUSETTS—Continued
BOSTON
[In thousands of dollars]
Dec. 31,1928
10 banks
Mar. 27,1929
10 banks
June 29,1929
10 banks
Oct. 4,1929
10 banks
RESOUBCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities owned _Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures _.Other real estate owned...Reserve with Federal reserve bank ___Cash in vault _Due from banks _.. _Outside checks and other cash items _Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed __Other assets
553,609117
72, 340
21,6072,252
52,2496,339
134, 9676,321
176
50, 299
18, 629
545, 58967
95, 35169,10671, 25921, 635
2,36146, 543
4,614104, 366
4,310181
30, 867
"~I8,~99O"
556, 941101
94,04268, 86067,09321,6012,634
47, 9394,129
90,2855,715
181
23, 57225
11, 249
574,90396
92,11055, 71374,64221,5973,076
51,8475,057
123,5612,570
181
21,11725
13, 782
Total. 1,066,077 1,015, 239 994, 367 1,040, 267
LIABILITIESCapital stock paid inSurplus. _Undivided profits—net.. _.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid __ _.Circulating notes outstanding. __Due to banks1 _Demand deposits _.Time deposits (including postal savings deposits)United States deposits _ _
Total deposits _ __Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Acceptances executed for customers _.Acceptances executed by other banks for account of reporting
banks.. _Securities borrowedOther liabilities
56,35050,18015,7203,413
2,8463,484
135, 350426, 732183, 916
3,507749, 606
7,49135,050
84,623
3,720
56, 35050,18016, 8254,027
4, 1473,584
116, 265407, 258188, 133
4,299716,966
31, 08520, 983
30, 86772, 812
2,155
6,269
56, 35042, 68017, 7005,082
3,2663,612
116,027397, 157178, 592
7,962699,788
35, 62628,900
23,57267, 323
2,26125
8,232
65,62550,42419,0703,572
3,8043,616
128,825422,472185,330
744,968
19,47825,122
21,11776,626
1,28825
5,537
Total. 1,066, 077 1, 015, 239 994, 367 1,040,267
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OP THE CURRENCY 475Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
MICHIGAN[In thousands of dollars]
Dec. 31,1928
129 banks
Mar. 27,1929
129 banks
June 29,1929
129 banks
Oct. 4,1929
126 banks
RESOURCES
Loans and. discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault -.Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowedOther assets _.
Total - ,
LIABILITIES
Capital stock paid inSurplus ___Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid ____Circulating notes outstanding. _Due to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits.Agreements to repurchase United States Government or
other securities sold . - . '.Bills payable and rediscounts _.Securities borrowedOther liabilities _.
Total
161,745118
25, 63789, 75411,9171,244
12,1246,489
19,10365658219
277
329, 665
17, 23511, 9865,398
676
78711,5026,922
94,844171,379
1,436074,581
507,273
19158
329,6
170, 595137
26,07690,97812,2401,317
12, 8295,849
18, 431610587513220
168,888118
26,12189, 64712,8131,194
13,1605,414
18, 84756858912
400
340,382 337, 771
17, 54012, 2876,567
585
82311, 5796,849
101, 699173, 734
1,895m, 177
6,118513118
17, 89013,1705,884
796
1,05111, 7956,919
98, 778172, 982
1,528280,207
2056, 564
12197
340, 382 337, 771
175,853152
25, 37089,89913,1441,555
12, 8975,999
18,153495798
12228
344, 555
18, 29013, 4887, 347
766
1,03111,6817,108
99,769177, 725
1,261
5,56112
516
344, 555
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
476 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued
MICHIGAN—Continued
DETROIT
Jn thousands of dollars]
Dec. 31,1928
3 banks
Mar. 27,1929
3 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
Loans and discounts (including rediscounts) -OverdraftsUnited States Government securities owned..Other bxOndSj stock, securities, etc., owned...Customers' liability account of acceptances-Banking houge, furniture and fixtures _Other real estate ownedReserve with Federal reserve bankCash in vault._Due from banks.Outside checks and other cash items. _Redemption fund and due from United States Treasurer.Other assets
Total _LIABILITIES
Capital stock paid in ,SurplusUndivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _ _Circulating notes outstandingDue to banks 1
Demand deposits. _Time deposits (including postal savings deposits) _ _United States deposits
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances executed for customers ,Other liabilities ,
159,98847
28,46112,7944,1159,944
54510,8562,601
34,9965,682
2321,847
272,108
12,00013,5004,781
122
3824,615
27,759130,43264,979
233228, 403
194,931229
30,49214, 6802,579
11,867641
16,3623,109
32, 3384,657
2324,748
191,45454
24,11411,4552,552
11,392296
17,6572,157
35,8244,740
1721,414
316,865 303,281
14,50016,5005,067
358
1,5234,632
29,183136,79081,489
486247,948
12,50015, 5004,570
18
1,1143,43224,955149,12883,507
8248
8,4064,263
636
22,6202,894
823
3,8002,965
968
Total_ 272,108 316,865 303, 281
202,41870
20,53012,7912,57111,489
30217,2452,85529,208
1721,792
306,829
12,50015,5005,150
36
1,3613,42224,505151,91680,1272,979
259,527
1755,7362,704718
306,829
^Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
UEPQRT OF THE COMPTROLLER OF THE CURRENCY 477
Abstract of reports of condition of national hanks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Conitkuied
MICHIGAN—Continued
GRAND RAPIDS
[In thousands of dollars]
Dec. 31,1928
.2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts ,United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned... „Reserve with Federal reserve bank—•Cash in vault _„Due from banks _Outside checks and other cash itemsRedemption fund and due from United States Treasurer..Other assets
Total..
X1ABILITIES
Capital stock paid in._Surplus _.Undivided proms—netReserves for dividends, contingencies, etcReserves lor interest, taxes, and other expenses accrued and
iinpaid.Circulating notes outstandingDue to banks i.._.Demand deposits ______Time deposits (including postal savings deposits)United States deposits. __.
Total deposits.Bills payable and rediscountsAcceptances executed for customers _ _Other liabilities -
Total.
24,0153
1,9002,312
2,63298
2,211926
4,7224285
110
1,8001,150
74973
501,6793,488
17,15612,625
7988:848
4207
23, 72310
1,9862,459
162,632
1031,849
8484,023
2385
113
13,0046
1,4471,130
2,17259
1,181501
3,0351845
136
37,870 22,734
1,8001,150
S7049
611,680
15, 75512,504
61SI, 809
22816
207
37,870
1,50060040325
65892
1,7048,5007,615
28518,104
941
204
22, 734
15, 74122
1,4441,197
2,17859
1,280473
3, 5551048
126
26,133
1,500650405
79929
2,05112, 5707,428
309
212
26,133
1 Includes certified and cashiers' checks, and cash letters of credit and travelers'checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
478 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—-Continued
MINNESOTA
[In thousands of dollars]
Dec. 31,1928
266 banks
Mar. 27,1929
266 banks
June 29,1929
263 banks
Oct. 4,1929
260 banks
RESOURCES
Loans and discounts (including rediscounts) _..OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank _Cash in vault.__ -.Due from banksOutside checks and other cash items__Redemption fund and due from United States Treasurer—Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _ .._Other assets—
Total. . . . -
LIABILITIES
Capital stock paid in __SurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes', and other expenses accrued and
unpaid-.Circulating notes outstandingDue to banks * _Demand depositsTime deposits (includiug postal-savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold __. -Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersSecurities borrowed..Other liabilities
Total-_
135,150117
28,72774,851
87,6923,156
11, 2145,835
28,091541539
7529
3,805
299,830
19, 6039,6444,395
613
80310,49116, 63289, 830
145, 505875
501,171
758
29106
299, 830
135, 286172
30, 21776,590
67,7583,064
11,0025,266
22, 801420530
137,057123
30,19475, 202
7,8792,813
11, 8564,994
26,499651547
273,814
273,531
296, 953
19, 8389,7674,464
332
52610, 50313, 61187, 270
147, 884808
249, 573
1,759
18, 7759,1973,841
535
49310,89813, 26095,012
146, 8871,115
256,271>
201,196
627
158
727
117
296,953 301,380
137, 804147
29,62275, 324
77,8832, 589
11,8555,136
21,871492534
3,646
301,380 1 296,973
18, 6959,2134, 633
346
72910, 55513, 23490,195
145, 795986
250,210
2,256
746
283
296, 973
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 479
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
MINNESOTA—Continued
MINNEAPOLIS
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances . . .Banking house, furniture and fixtures..Other real estate owned __Reserve with Federal reserve bankCash in vaultDue from banks -Outside checks and other cash items__.Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets
Total _
LIABILITIES
Capital stock paid inSurplus _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _.Circulating notes outstandingDue to banks l
Demand depositsTime deposits (including postal savings deposits)United States deposits-__ .__ _
Total deposits „._Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of report-
ing banksOther liabilities _
Dec. 31,1928
7 banks
118,76052
38, 60929,8406,6402,035
85315,1791,867
35, 2052,820
152
1, 543848
254, 403
11,5007, 8601,971
318
1,1022,99753, 68396, 68565,4782,002
217,8481,955
1, 5436, 714
8587
Total I 254,403j
M a r . 27,1929
6 b a n k s
127,11763
37,41027,941
1,3402,312
87315, 473
1,94326, 653
2, 071147
156926
244, 425
12,9007, 8402,420
10
8012,922
52,43789, 69560,877
1,400SO4,409
10, 725
1561,457
25700
244, 425
J u n e 29,1929
6 b a n k s
129,50091
37,31025, 514
1,1382,460
84911, 387
1,84331,8712,074
147
752
244,936
12,9007,8402,299
376
8712,909
47, 30695, 04164,912
2,681209,94O
5,760
1,162
53826
Oct. 4,1929
6 banks
158,99657
34, 62424, 2769,3023,155
84810,0452,238
37,9812, 806
147
285,140
12,9007,8502, 520
59
9702,888
54, 38098,43960, 314
1,528214,661
32,907
9,257
1273,001
244, 936 285,140
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
480 REP0ST OF THE COMPTKOLLER OF THE
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 (arranged by States and reserve cities)—Continued
ST. PAUL
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
3 banks
June 29,1929
3 banks
Oct. 4,1929
3 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts.. ._.United States Government securities owned...Otber bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesReserve with Federal reserve bankCash in vault-—Due from banks __.Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement— .Other assets.. .._. _
Total.
LIABILITIES
Capital stock paid in _SurplusUndivided profits—net._.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks 1
Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscounts ...Acceptances of other banks and bills of exchange or drafts
sold with indorsement... _.Acceptances executed for customersOther liabilities
Total.
73,32619
21,1159,665
561,6728,0491,879
22,3354,453
30
699
143, 298
5,7504,5252,966
651
59727,33058, 73639, 627
440126, 133
57390
143, 298
71,024182
22,7567,766
98107
7,7671,45013,840
35530
2633
64,85513
23,3188,607
41109
7,1741,37618,328
44030
4721
126, 010 125, 016
5,6504,5001,265539
335594
24, 05753, 65832,8141, 814
112,343360
298324
5,8504, 7501,288504
59720,76156, 65932,6811,190
111, Wl
44330
126,010 I 125,016
72,«7934
223309,872
1097,6291,496
18,4168
30
22919
134,376
6,8504,7502,012
583590
22,69859,60434,188
1,270117,760
1,190
2232
494
134,376
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 481Abstract of reports of condition of national banks at date of each call during pear ended
October 81, 1929 {arranged by States and reserve cities)—Continued
MISSISSIPPI
[In thousands of dollars]
Dec. 31,1928
36 banks
Mar. 27,1929
36 banks
June 29,1929
35 banks
Oct. 4,1929
35 banks
RESOURCES •
Loans and discounts (including rediscounts)Overdrafts _United States Government securities owned.._Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances.Banking house, furniture and fixturesOther real estate owned _Reserve with Federal reserve bank _._Cash in vault.._Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _Other assets _.
Total
LIABILITIES
Capital stock paid inSurplus _Undivided profits—netReserves for dividends, contingencies, etc. -Reserves for interest, taxes, and other expenses accrued
and unpaid ,Circulating notes outstanding -Due to banks 1
Demand deposits _Time deposits (including postal savings deposits)United States deposits _
Total deposits „_Bills payable and rediscounts -Acceptances of other banks and bills of exchange or drafts
sold with indorsement _ _Acceptances executed for customersSecurities borrowed _Other liabilities _.
Total
54,737301
5,69914,503
1202,352
8434,1272,024
12,478452159
1739393
5,5603,968
84894
1183,1287,793
40,62732,710
69781,8872,196
17120393
55,601282
6,84214,236
9974,0651,850
10,317178158
17367515
97,813
6,5603,9871,164
34
2403,1325,977
41,53132,991
85581,8541,921
17
36737
56,277101
5,61714,035
242,359
9933,6401,2629,173
364152
193370
5,4253,964
97593
2273,0065,000
35,23533,531
71374,4796,122
97,813 94,560
57,279377
5,15514,070
2002,3741,080
1,81411,329
573152
58348
94,560 i 98,729
5,4253,9641,313
31
4352,9786,448
36,81733,463
68677,4*46, sea
2005345
98,729
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
482 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
MISSOURI
[In thousands of dollars]
Dec. 31,1928
107 banks
Mar. 27,1929
111 banks
June 29,1929
111 banks
Oct. 4,1929
108 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts ._.United States Government securities owned. _.Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault _Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowed... . _Other assets _
Total--
LIABILITIES
Capital stock paid in _Surplus..Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks 1_._.Demand deposits _Time deposits (including postal savings deposits)United States deposits _
Total deposits _Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsSecurities borrowedOther liabilities _
Total.
54,08289
15,20116,4902,777
9574,8392,358
12,439357267184171
110,211
7,6553,8761,612
141
915,2917,957
52,27930,161
41090,807
5049118413
110, 211
62,90596
18,94421,2324,0801,0205,6602,4999,170
320294183269
62,27475
18,70720,9794,1231,0295,3422,115
11,531300295210213
126,672 127,193
"i9,0354,1752,153
92
9,0104,1531,807
205
1445,8237,46955,39738,6291,121
102,616
1375,8437,18555,24039,604
621102,660
502,385
18316
573,212
210
126,672 127,193
60,649114
18,48820,8864,1321,1485,3972,531
11,11$366286112161
125,388
8,8754,1272,137
162
1985,5897,680
53,94738,940
568101,136
2652,779
1129
125,388
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EBPORT OF THE COMPTROLLER OF THE CURRENCY 483
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
MISSOURI-Continued
KANSAS CITY, MO.
[In thousands of dollars]
! Dec. 31,i 1928
10 banks
Mar 27,1929
9 banks
June 29,1929
9 banks
Oct. 4,1929
9 banks
RESOURCES
Loans and discounts (including rediscounts) _.OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned.Customers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned _Reserve with Federal reserve bank.Cash in vault .Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Other assets
TotaL
LIABILITIESCapital stock paid in _Surplus _ _ _-Undivided profits—netReserves for dividends, contingencies, etc _Reserves for interest, taxes; and other expenses accrued and
unpaidCirculating notes outstanding __.Due to banks *_Demand depositsTime deposits (including postal savings deposits)United States deposits _
Total deposits -Agreements to repurchase United States Government or
other securities sold _ _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts sold
with indorsement.__ _ _..Acceptances executed for customersOther liabilities
Total.
82,42522
13, 24420, 527
1382,641411
11,1981,549
33,10661148
130
166, 050
7,0503,3774,357
113
73949
57, 21476, 71010,353
6431U, 920
1194,153
138801
166, 050
81, 441156
14, 38716, 333
2,284101
10, 7781,679
30,64743647
377257
158,923
8,0503,3273.106
95
82946
49, 96676,3099,3831,958
137, 616
4,559
377
765
158, 923
83,15119
11, 59017, 970
2,176100
9,9461,224
27,14445848
154, 725
8,0503,3292,943
99
132950
45, 28972,1869,7991,117
128, S91
10,038
793
154, 725
82,75640
10,06618,070
8002,161
199,5571,306
31,650493
1,166
158,132
8,0503,3813, 279
124931
50,82673,29510,025
676184,822
6,025
800634
158,132
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
484 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
MISSOURI—Continued
ST. JOSEPH
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts) _Overdrafts m.United States Government securities ownedOther bonds, stocks, securities, etc., owned..Customers' liability account of acceptancesBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bank—Cash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer-Other assets
16,6346
3,1491,706
2338136
1,676663
5,6444617
16,927
3,3331,800
138236
1,660623
4,937521732
Total.
LIABILITIES
Capital stock paid in _Surplus _.Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstanding _ _Due to b a n k s 1
Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits _.Bills payable and rediscountsAcceptances executed for customers _Other liabilities
30,014
1,10095030420
10337
9,76210, 2896,880
13727,068
29,805
1,10095034246
33710,0089,304
23202
135*6,055
7501
185
Tota l . 30,014 29,805
14,645
2,8761,718
138236
1,378490
5,497411733
27,121
1,10095027953
18338
9,2148,170
129£4,806
10167
27,121
14,75711
2,9131,514
38235
1,437513
5,630361729
27,274
1,10095030734
58331
9,1188,7466,117
69$4,080
2502
192
27,274
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OP THE CURRENCY 485Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
MISSOURI—Continued
ST. LOUIS
[In thousands of dollars]
Dec. 31,1928
13 banks
Mar. 27,1929
10 banks
June 29,1929
10 banks
Oct. 4,1929
8 banks
BESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer-..Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther assets...
220,12692
29, 36851,045
8467,682
33222, 8352,406
53,404726491
2131,058
Total. 390,624
LIABILITIESCapital stock paid inSurplusUndivided profits—net .__ _Reserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks 1.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold. _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Acceptances executed for customers _Acceptances executed by other banks for account of report-
ing banksSecurities borrowed... _ _Other liabilities
T o t a l .
29,55010,8256,340
219
3019,634
73,933171, 261
76, 6771,439
828,810
2007,915
881
232,963227
36,13446,023
1,3976,618
20023,0552,015
43,843165364
178213
1,591
177,872147
19, 81339,948
6543,597
59717,7831,541
31, 516273141
1,337
295, 219
29,50010, 5168,489
206
19,8508,5915,800
422
5797,18372,080166, 72179, 8752, 638
821,814
6952,634
47, Oil135,49562,8192,524
247, 849
10013,983
1781,397
7,773
713
2131,236
2131,3 892
390, 624 394,986 295, 219
156,46743
13, 62036,073
1,4152,667
59215,0901,462
34, 625247132
1,126790
264, 349
16,6506, 5915,717
44
7632,615
44,085115,17056,1811,729
217t 165
11,364
1,436
1,126840
264, 349
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
486 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserne cities)—Continued
MONTANA
[In thousands of dollars]
Dec. 31,1928
68 banks
Mar. 27,1929
67 banks
June 29,1929
67 banks
Oct. 4,1929
65 banks
RESOURCES
Loans and discounts (including rediscounts).Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedKeserve with Federal reserve bankCash in vaultDue from banks __ __Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets...
47,26163
14,55016,3092,538
8994,8262,460
12, 68917811129
44,72959
14, 47716,0982,636
8694,3242,5078,909
10710933
44,83169
13,79415, 7192,652
8374,1382,1859,381
12110931
Total .
LIABILITIES
Capital stock paid inSurplus _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _ _Circulating notes outstandingDue to banks * __ _Demand depositsTime deposits (including postal savings deposits)United States deposits _.
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsOther liabilities..
Total .
101,913 94, 857 93,867
4,8802,4221,389
180
2442,1594,331
47, 25838,609
42290,6m
4,8552,4411,567
26
2782,1063,51840,61438,930
428
4,8552,5021,616
97
2912,1113,39438,60138,837
40081,288
191,146
17
101,913 94, 857 93, 867
43,93083
13,05715,7732,662818
4,2022,39412,449
20310827
95,706
4,7902,4912,108
21
3022,1314,51642,29936,343
284
1039318
95,706
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OF THE CURRENCY 487Abstract of reports of condition of national banks at date of each call during year ended
October SI, 1929 (arranged by States and reserve cities)—Continued
MONTANA—Continued
HELENA
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
EESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures_ : __.Other real estate owned _Eeserye with Federal reserve bankCash in vault _ -Due from banks ,Outside checks and other cash itemsKedemption fund and due from United States Treasurer.
5,6176
1,0651,039
9650
478105
1,5182010
4,7445
8851,122
9650
414120
1,2417
10
4,64311947
1,075955041087
1,5143010
4,81022937
1,09095SO386109
2,0342010
Total. 10,004 8,872 9,563
Capital stock paid in —Surplus _Undivided profits—net _ -Keserves for dividends, contingencies, etcCirculating notes outstanding_..Due to banks 1__Demand depositsTime deposits (including postal savings deposits).United States deposits
Total deposits.Bills payable and rediscounts
4503751436
2002,4263,9762,401
278,830
450375102
2001,9233,2022,411
317,667
45037511913200
1,9773,2642,431
437,715
450375160
2002,5633,4952,176
248,868
120
Total. 10,004 8,872 9,563
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
488 EEPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81,1929 {arranged by States and reserve cities)—Continued
NEBRASKA
[In thousands of dollars]
Dec. 31,1928
145 banks
Mar. 27,1929
145 banks
June 29,1929
147 banks
Oct. 4,1929
148 banks
BESOUBCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownadBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve banks . . .Cash in vault _Due from banks. ,Outside checks and other cash items. _Redemption fund and due from United States Treasurer.Securities borrowed _Other assets
Total _
LIABILITIES
Capital stock paid inSurplus, __Undivided profits—net—Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid . . - .Circulating notes outstanding,Due to banks*. . _ _Demand depositsTime deposits (including postal savings deposits) _ _ _United States deposits - -
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscounts . . .Securities borrowed.._Other liabilities
Tota l .
60,245143
13,22311,2352,8881,8164,4621,8359,874
17930043
107
106,350
7,6504,0871,310
256
1645,9675,121
43,59534;, 306
20083,222
1903,458
43
106,350
59,548206
13, 56210,8142,8201,5294,7761,879
10,531166288434
58,640129
13,97211,0132,8311,3394,5881,686
10,700186288
33
106,166
7,4104,0681,492
218
1675,7135,819
45,25533,680
15584,909
402,105
431
105,378
7,4754,1131,379
1545,7255,600
44,33834, 554
12984,621
1,616
106,166 105, 378
60,921222
13,9021V6102,8261,090%W1,8559,485
165287
310
106,990
7,5004,0661.63X
225
1455,6594,993
44,98235,086
18085, Hi
2,51931
106,990
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 489
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
NEBRASKA—Continued
LINCOLN
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned _..Other bonds, stocks, securities, etc., owned _Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault--Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer
Total _
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses, accrued and
unpaid....Circulating notes outstanding ._Due to banks1. _Demand depositsTime deposits (including postal savings deposits)United States deposits--
Total depositsBills payable and rediscounts.__Other liabilities
14,62319
1,7172,829
920104
1,738442
3,94919316
26, 550
1,50049019187
30320
7,47612,4253,485
7428,460
472
Total- 26, 550
14,64815
1,9472,635
92995
1,905414
3,9187016
26, 592
1,50049022978
123321
8,31311,8073,320
21188,651
200
26,592
17,78524
2,7263,761
93374
2,412433
4,02448710
32,669
1,55059019575
69199
9,39316,1244,377
10680,000
17,12731
2,719
88570
2,448642
4,83610010
32,163
1,55059027940
2009,543
15,6504,100
12329,416
32,163
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
490 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
NEBRASKA-Continued
OMAHA
[In thousands of dollars]
Dec. 31,1928
7 banks
Mar. 27,1929
7 banks
June 29,1929
7 banks
Oct. 4,1929
7 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned__ _Other bonds, stocks, securities, etc., owned _.Customers' liability account of acceptancesBanking house, furniture and fixtures . __.Other real estate owned. _Beservewith Federal reserve bank.__Cash in vault _ -Due from banks —Outside checks and other cash itemsRedemption fund and due from United States Treasurer. __Securities borrowedOther assets...
Total
LIABILITIES
Capital stock paid inSurplus..._Undivided profits—netReserves for dividends, contingencies, etc _.Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding _. _Due to banks1
Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits..Bills payable and rediscountsAcceptances executed for customersSecurities borrowed __Other liabilities. __
Total _ __
57,00846
15,27212,961
33,311
356
99424,166
550581281
57,79593
14,03012,648
33,302
3297.0641,030
21,177349571179
4312,85612,443
3,293318
7,0011,057
20,895470571174
121,814
5,2002,525
8091,046
1,13432,13153,35715,4991,517
102,6048,090
312
209
117,967
5,2002,540
6171,060
6131,150
34,49850,86315,816
765101,942
4,6513
11180
117,199
5,2002,550
666985
6161,144
30, 61851,84316,024
6,501
11193
121,814 117,967 117,199
59,522130
11.07012,218
3,302179
6,6131,095
25,253
1162
120,205
5,2002,550
861970
1,13834,31751,48417,517
54310S, 861
4,838
11188
120, 205
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPORT OF THE COMPTROLLER OF THE CURRENCY 491
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
NEVADA
[In thousands of dollars]
Dec. 31,1928
10 banks
Mar. 27,1929
10 banks
June 29,1929
10 banks
Oct. 4,1929
10 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts .United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate owned___ __,Reserve with Federal reserve bankCash in vault__ _ __.Due from banksOutside checks and other cash items .Redemption fund and due from United States Treasurer..Other assets _.
11,66519
2,1013,201
939137966436
3,41321602
11,41120
2,2513,160
945128869457
2,33027
Total. 22,960 21, 660
LIABILITIESCapital stock paid in..-_ _SurplusUndivided profits—net __ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _ _Circulating notes outstanding __Due to banks1 . _Demand deposits.__Time deposits (including postal savings deposits)___United States deposits
Total depositsOther liabilities
1,50059018315
851,1952,5558,3268,418
9319,892
1,50061521818
251,1761,6807,6158,725
8818,108
Total _ 22,960 21, 660
11,81735
2,4113,077942135
1,067481
2,90954
22, 989
1,50062521327
951,1942,1598,475
19, S
12,11928
2, 5563,011945133980542
3,19027
23,594
1,50062529021
371,1901,7939,4608,579
9919,931
23,594
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
492 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
NEW HAMPSHIRE
[In thousands of dollars]
Dec. 31,1928
56 banks
Mar. 27,1929
56 banks
June 29,1929
56 banks
Oct. 4,1929
56 banks
BESOURCES
Loans and discounts (including rediscounts)Overdrafts .United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate owned _Reserve with Federal reserve bankCash in vault _.Due from banks._Outside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowed.Other assets
Total - v . . .
LIABILITIES
Capital stock paid in _Surplus. __ _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid. _Circulating notes outstandingDue to banks *__ ._Demand deposits.Time deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscounts.Securities borrowedOther liabilities
Total
43,21419
10,93217,9702,825
543,6942,1516,315
40623665
159
88,040
5,5005,0763,916
227
534,6784,479
39,06921, 586
45265,5862,929
6510
88,040
42,76136
11,33617,7972,859
593,5001,9604,093
19523665
174
5,5005,1024,277
85
404,6733,367
35,37122,036
5626U SS63,972
6521
85,071
45,08721
10,16717,2032,878
393,6421,5204,440
36323640
143
85, 779
5,5005,1474,130
184
1234,6904,189
35, 27121,606
53661, 6024,345
4018
85, 779
47,30750
10,28417,2692,990
443,7561,664
3682364031
90,241
5,5005,1624,419
864,6854,429
22,326553
67, 2972,951
4032
90,241
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OP THE CURRENCY 493Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
NEW JERSEY
[In thousands of dollars]
Dec. 31,1928
299 banks
584, 773133
69,731246,152
1,28832,9064,928
42, 76117,49854, 7371,4041,139
577200
4,742
1,062,969
54,52055, 68920,6852,448
1,37522, 54420, 705
375, 208466, 443
3,299865, 655
62134, 399
577972
328200
2,956
1, 062, 969
Mar. 27,1929
298 banks
581,840113
69,414243,696
1,42033,8724,853
38,37216,18735,867
8161,140
17400
4,353
1,032, 360
55, 38556, 61023,360
1,510
2,90722, 43218,174
337, 714470, 663
7,135838, 686
5030,993
17826
594400
3,590
1, 032, 360
June 29,1929
299 banks
595,506135
69,955239,825
64734,4615,257
42,70811,95443, 6541,2161,147
5460
5,016
1,051,946
55,50156,81921,9602,584
1,77022,83518, 339
355,033477, 732
7,016858,120
27, 553
5528
240460
3,571
1, 051,946
Oct. 4,1929
299 banks
605,437295
68,635232,814
77035,2675,635
39,46415,04743,7041,0131,166
19260
3,534
1, 053, 060
56,28358,04024,5391,758
2,94322,94719,344
345, 515490,044
6,101861f004
71619, 766
19431
356260
3,998
1,053,060
RESOURCES
Loans and discounts (including rediscounts)Overdrafts.. _United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned _Eeserve with Federal reserve bank___Cash in vaultDue from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther assets _
Total
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _._ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding.Due to banks1 _.Demand deposits _ _Time deposits (including postal savings deposits)United States deposits..
Total depositsAgreements to repurchase United States Government or
other securities sold..Bills payable and rediscounts-Acceptances of other banks and bills of exchange or drafts
sold with indorsement ,Acceptances executed for customersAcceptances executed by other banks for account of reporting
banksSecurities borrowed"Other liabilities
Total ._.
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
494 REPORT GF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
NEW MEXICO
[In thousands of dollars]
Dec. 31,1928
28 banks
Mar. 27, June 29,1929 1929
28 banks 28 banks
Oct. 4,1929
28 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banks. -Outside checks and other cash items- ,Redemption fund and due from United States Treasurer-Other assets
Total _
LIABILITIES
Capital stock paid in..SurplusUndivided profits—net__ __ __Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks*Demand depositsTime deposits (including postal savings deposits)United States deposits _ _ _
Total deposits. _ _Agreements to repurchase United States Government or
other securities sok l . . .Bills payable and rediscounts _Other liabilities _
Total _
18,85324
5,7665,3121,286
2462,213
9375,235
876319
40,041
2,0601,037
10653
391,2552,151
25,3917,718
12585, 885
4515
40,041
18, 09630
5,9005,4801,294
2451,848
9893,331
446314
18,15012
5,7465,4441,299
2121, 883
9043,501
436324
37, 334 37,281
2,0601,047
1,2531,512
22,1678,442
117
149152
2,0601, 058
15258
161,2531,374
22,2288,244
13481,980
9965352
37, 334 37, 281
18,09121
5,4155,5021,308
2171,861
9503*937
536321
37,439
2,0601,038
36448
151,2361,576
21,1468,233
12081,075
2211,338
44
37, 439
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPORT OP THE COMPTROLLER OF THE CURRENCY 495Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
NEW YOKK
[In thousands of dollars]
Dec. 31,1928
520 banks
Mar. 27,1929
519 banks
June 29,1929
521 banks
Oct. 4,1929
524 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts- _United States Government securities owned.Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures - _Other real estate ownedReserve with Federal reserve bank _Cash in vault.._ _ _Due from banks. _Outside checks and other cash items ___.Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _ _Securities borrowed _Other assets
631,470278
78, 259408,893
14328,9484,051
49, 90319, 21848, 374
1,7841,549
648,895297
77,771395,685
10229, 5794,288
47,88517, 48940,835
1,1151,525
3, 5128 128
672,817228
77,113384, 799
10029,8374,636
49, 75714,14543, 038
1, 5191,515
3129
3.268
751,700309
80,239395,081
28732,2484,850
53,98617,32954,9572,2741,567
5124
2,679
Total . 1,276,264
LIABILITIES
Capital stock paid in _.Surplus _ _ _.Undivided profit—netReserves for dividends, contingencies, etc. _Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding. _ __ _Due to banks i _ _._Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits _.Agreements to repurchase United States Government or
other securities sold -Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Acceptances executed for customersAcceptances executed by other banks for account of report-
ing banksSecurities borrowed _Other liabilities
59, 79258,94732, 2503,466
1,78430, 41618,223
376, 416668, 910
1,7891,065,338
22,140
21
123128
1,770
Total . 1,276, 264
1, 268, 592 1, 282, 904 1,397, 635
61,09560,39036, 3422,730
3,55730,10215, 894
363,159665, 045
2,523
7925, 728
20
82128
1,718
1, 268, 592
63, 02062, 20534,8214,087
1,90430,22518,287
369,423667, 937
2,5291,058,176
10626, 823
310
90129
1,305
68,13369,20241,0543,842
3,95431,04732,041
446,458679,179
2,163', 159,841
10718,142
5172
118124
1,894
1, 282, 904 1, 397, 635
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
496 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
NEW YOBK—Continued
ALBANYi
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned.Other bonds, stocks, securities, etc., owned._ __ ___Customers'liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank.. ___Cash in vaultDue from banksOutside checks and other cash items. _.Redemption fund and due from United States TreasurerOther assets _
Total _
LIABILITIES
Capital stock paid inSurplus _Undivided profits—netReserves for dividends, contingencies, etc.. _Reserves for interest, taxes, and other expenses accrued and unpaidCirculating notes outstanding. _Due to banks2- _Demand deposits.__Time deposits (including postal savings deposits)United States deposits.._ _
Total deposits _Agreements to repurchase United States Government or other securities
soldBills payable and rediscountsAcceptances executed for customers.._ _ ._Acceptances executed by other banks for account of reporting banksOther liabilities.... _.
Total.. . :
Dec. 31,1928
2 banks
43,281
17, 62524
900112
5,218851
10,38915763
433
85, 328
3,5005,0001,858
428166
1,23013, 53343,60610,973
3668,148
2,4862,346
253
138
85,328
Mar. 27,1929
2 banks
65,9836
5,29515,745
33906138
7,1941,1466,681
55062
590
104,329
3,5005,5001,767
200466
1,23115,09565,73410,523
12691,478
3119
137
104,329
June 29,1929
2 banks
57,1121
5,98214,771
2381,084
506,932
894
1,65662
534
113, 984
3,5005,5001,959
250370
1,23812,17478,5519,774
345100,844
1183
113,984
1 Terminated as a reserve city, effective July 1,1929.8 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 497
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
NEW YORK—Continued
BROOKLYN AND BRONX
[In thousands of dollars]
Dec. 31,1928
16 banks
Mar. 27,1929
16 banks
June 29,1929
15 banks
Oct. 4,1929
13 banks
RESOURCES
Loans and discounts (including rediscounts) __Overdrafts __United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banks.._Outside checks and other cash items _.Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement... _.Other assets __.
47,4268
4,59714,4041,3022,006
2434,6561,3825,148
32449
1401
Total . 81,947
LIABILITIES
Capital stock paid inSurplusUndivided profits—net - . .Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstanding _Due to banks *Demand deposits __Time deposits (including postal savings deposits)United States deposits
Total deposits _Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding. ;
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
498 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
NEW YORK—Continued
BUFFALO
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
3 banks
Oct. 4,1929
3 banks
EESOURCES
Loans and discounts (including rediscounts)Overdrafts __United States Government securities owned___Other bonds, stocks, securities, etc., owned _.Banking house, furniture and fixturesOther real estate owned. _.- ..-Reserve with Federal reserve bank _Cash in vault- _ -Due from banks -Outside checks and other cash itemsRedemption fund and due from United States TreasurerOther assets _
Total .---
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding _Due to banks l _ -Demand deposits —Time deposits (including postal savings deposits)United States deposits.
Total deposits..Agreements to repurchase United States Government or
other securities sold __.Bills payable and rediscountsOther liabilities
Total - - . .
20,9363
3,2396,156
807117
1,448421
2,52312477
453
36,304
1,9501,375
34410
671,5481,6557,869
18,960691
89,175
3001,492
36,304
22,0462
2,5605,862
808148
1,304324
1,7306078
229
35,151
1,9501,375
344
1851,550
8517,241
20, 38325
28,500
1,12542
35,151
6,0885
1,0471,424
250
38292
295102853
9,674
75032513723
5655084
2,0845,649
47,881
12
9,674
6,8922
7511,525
252
442132
428
10,453
7503759550
546140
2,6165,821
8,677
27
10,453
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 499Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
NEW YORK—Continued
NEW YORK CITY (CENTRAL RESERVE CITY BANKS)
[In thousands of dollars]
Dec. 31,1928
22 banks
Mar. 27,1929
23 banks
June 29,1929
21 banks
Oct. 4,1929
20 banks
BESOURCES
Loans and discounts (including rediscounts)Overdrafts- _ .__United States Government securities owned.Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances _ _Banking house, furniture and fixtures. _Other real estate owned.. _Reserve with Federal reserve bank _Cash in vault _Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _Other assets
Total...
LIABILITIES
Capital stock paid in _Surplus. _ _Undivided profits—netReserves for dividends, contingencies, etc_.._Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding __Due to banks *_ _.Demand deposits _. -.Time deposits (including postal savings deposits)United States deposits
Total deposits _Agreements to repurchase United States Government or
other securities sold _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement _ —Acceptances executed for customers ._.Acceptances executed by other banks for account of report-
ing banks . .Securities borrowedOther liabilities.
Total -. - .- .
2,828,5421,314
654,935394,038331, 63762,013
998392,00228,164
1, 698,34031,1701, 684
227,371350
136, 395
2,609,8241,030
684,035407,113310,541
2,911375,33226,714
1,480,91520,9511,684
183,5959
133, 753
2,432,9451,058
467,149319,372243,11362,533
316307,68420,995
559,6763,4311,705
123,3409
114, 798
2,289,3381,491
464,807323,044274,51255,0534,987
289,63821,130
6,788,953 6,300,806 4,658,124
9,8311,783
139,5049
109,436
4,858,253
277,000381,87576,87424,680
11,17833,281
1,831,2402,649,161
538, 67823,775
6t 048,854
46,090280, 618
227, 371330,262
11,750350
44, 770
302,100430,375
80, 72220,516
13,02532,734
1, 685,7292,438,119
498,11876,501
4,698,467
280,425357,025
68,43914,058
15,36733,926
812,6792,046, 315
419,84936,756
3,815,599
310,882381,02581,51114,529
11,58034,245
1,007,8571,979,668
507,99529,702
3,525,222
142, 738
183,595312,187
11,8239
65,522
160,120
123, 340242,540
8,2949
38,982
41,290
139,504269,951
11,9649
36,541
6,788,953 6, 300, 806 4, 658,124 4,858,253
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
500 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
N O R T H CAROLINA
[In thousands of dollars]
Dec. 31,1928
70 banks
Mar. 27,1929
69 banks
June 29,1929
68 banks
Oct. 4,1929
62 banks
RESOURCES
Loans and discounts (including rediscounts).OverdraftsUnited States Government securities owned.Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures.Other real estate ownedReserve with Federal reserve bank._ _Cash in vaultD u e from banksOutside checks and other cash i tems. _ _.Redemption fund and due from United States Treasurer . . .Acceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther assets
110,89486
12,97210,9781,5517,5381,8716,7054,268
21,265632350
108,60665
13,96110,437
5827,5201,7876,1333,823
16,252292351
107,10260
12,95410,720
3707,5781,7326,5482,429
16,997529
362180
374204
461662
Total . 179,652 170,387 168,480
LIABILITIESCapital stock paid inSurplus .-.Undivided profits—net ._.Reserves for dividends, contingencies, etc.Reserves for interest, taxes, and other expenses accrued and
unpaid - -Circulating notes outstandingDue to banks *Demand deposits -Time deposits (including postal savings deposits)United States deposits
Total deposits......Agreements to repurchase United States Government or
other securities sold wBills payable and rediscounts _Acceptances of other banks and bills of exchange or drafts
sold with indorsement _Acceptances executed for customersAcceptances executed by other banks for account of reporting
banksSecurities borrowedOther liabilities
13,4387,9812,331
452
> 836
13,2507,8242,771
237
885
58,6781,655
140,514
5,013
12, 59558,14757,2342,178
ISO, 154
407,233
13,0657,8382,590
513
7776,702
11,185
54, 5961,814
121,461
38513,903
1,505
46362411
555
27374234
320
50461415
Total . 179,652 170,387 168,480
83,761160
10,6197,007
5566,3221,2954,5593,050
11,298464277
13457451
130,289
9,9006,2412,246
208
5,6217,272
38,79244,6911,514
92,269
12311,876
13616
40457117
130,289
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 501Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
NORTH CAROLINA—Continued
CHARLOTTE
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
5 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement. _._Securities borrowedOther assets
17,4493
2,8951,6821,165
321,062
1411,705
3773
Total. 26, 323 i
LIABILITIES
Capital stock paid in ___.Surplus _Undivided profits—netReserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks i___Demand deposits _ _..Time deposits (including postal savings deposits)United States deposits _
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscounts •Acceptances of other banks and bills of exchange or drafts j
sold with indorsement ___'._ :
Securities borrowed _-!
1,8002,0001,316
95
1821,440' 6759,1487, 585
1517,428
2,010
57
Tota l . 26,323
16, 5563
2,8891,6371,165
321,084
1311,541
2072
25,192
1,8002,0001,402
65
1541,431
5029,1947,148
2816,872
741,354
40
25,192
15,3702
2,8201,6531,160
471,054
971,502
2272
50
22
23,871
1,8002,1001,244
103
1521,440
6677,9686,609
22is, me
1,716
50
23,871
15,0543
2,8141,6361,160
481,022
2031,305
1973
87
"22
23, 446
1,8002,1001,340
65
1551,421
5147,929
2015,326
1,152
87
23,446
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
502 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
NORTH DAKOTA
[In thousands of dollars]
Dec. 31,1928
133 banks
Mar. 27,1929
131 banks
June 29,
125 banks
Oct. 4,1929
122 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _ __.United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank—Cash in vault - _..Due from banks__ _ - -.Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _. -Securities borrowed ._Other assets
Total .
LIABILITIES
Capital stock paid in__ _Surplus _ , -Undivided profits—net. ._Reserves for dividends, contingencies, e tc .Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks 1
Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits -Agreements to repurchase United States Government or
other securities sold - —Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersSecurities borrowedOther liabilities
Total.
46,19366
10,28118, 528
3,0411,8144,2382v001
10, 246247168
12
57
96, 873
5,4152,5861,011
176
463, 2594,912
37, 51041, 294
17083, 886
36449
96,873
45, 70993
10, 71918, 340
3,0941,8093,9711,7127,732
176168
22
92
93,619
5,3852,612
835119
203,2234,145
34,97041,430
21480, 759
51606
93,619
43,60964
9,66116, 317
13,1541,6153,5361,5987,467
209167
2296
87, 696
5,3902,516
785134
3,2143,165
30, 57839, 972
1697S, 884
1551,548
45,303109
9,98217, 514
3,1191,3924,4121,993
12,163241164
2318
96, 712
5,5902,434
970178
953,0905,030
38,863183
83,674
61
19
87,696 I 96,712
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OF THE CURRENCY 503
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
OHIO
[In thousands of dollars]
Dec. 31,1928
314 banks
Mar. 27,1929
310 banks
June 29,1929
308 banks
Oct. 4,1929
306 banks
RESOURCES
Loans and discounts (including rediscounts) _.Overdrafts _ _ _.United States Government securities owned •_.Other bonds, stocks, securities, etc., owned.Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault _ ._Due from banks __Outside checks and other cash items.Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _ _Securities borrowed _Other assets.....
311,149352
51,193111,93724,9623,227
23, 34313, 22741,187
8691,407
Total..
2,487
586, 209
LIABILITIES
Capital stock paid in _SurplusUndivided profits—net.. ._Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid —Circulating notes outstanding...Due to banks 1 _Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits _Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowedOther liabilities
39,92030,36413,897
1,040
56027, 66814,492
220, 885220,480
624456, 481
1913, 226
2,487547
Total. 586, 209
318, 387274
52, 239109, 54124,9413,482
23,11411, 79734, 663
5631,413
2,081911
314, 952211
52, 316106,00425, 3803,706
23,12110, 01533,840
7841,404
122,139
886
583, 406 574, 770
39,45030, 62714, 798
1,003
62327,93110,872
223,104217,791
685452,452
4913,732
2,081660
39,30030,45713, 812
1,239
66327, 82111,300
219,107213, 608
588444,608
2413,457
122,1391,243
307,465222
51,747100,11724,9504,144
21,60211,82231,882
718!, 395
92,225
559,101
583,406 574, 770
38,45029, 57915,277
812
S7027,35310,194
213,281204,103
776428,864
2414,981
2,2251,167
559,101
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°—30 33
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
504 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
OHIO—Continued
CINCINNATI
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
5 banks
RESOURCES
Loans and disconnts (including rediscounts)Overdrafts ___ _United States Government securities owned.Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances __Banking house, furniture and fixturesOther real estate owned _Reserve with Federal reserve bank__ ._.Cash in vault. -_ _Due from banksOutside checks and other cash items _.Redemption fund and due from United States Treasurer.».Securities borro wed _._ -Other assets
Total
LIABILITIES
Capital stock paid in _ . . ". . . .SurplusUndivided profits—netReserves for dividends, contingencies, etc __Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks i__Demand deposits. _ - . .Time deposits (including postal savings deposits). . . .United States deposits
Total deposits..Bills payable and rediscounts ,Acceptances executed for customersSecurities borrowed _Other liabilities
T o t a l . . . _
52,4397
8,36016, 615
272,665
44,6891,214
15,690100113700170
102, 793
8,1005,3003,904
64
1272,207
16,97441,80319,0581,502
79,8872,970
2770057
102, 793
54,1523
10,73816, 554
2,6844
5,0831,141
12, 75842
113400117
103, 789
8,1005,3004,282
65
1862,240
12, 59046, 77819,0991,483
79,9S03,230
400
52,9146
9,62815,088
45,299
69712,544
76113696155
99, 867
8,3005,6003,686
1672,239
12,17743, 45918,2411,092
4,1008
103, 789 99,867
59, 5921
9,42413,908
852,640
45,413
95511,969
9411345458
104, 710
8,3005,6004,381
70
2342,219
12,40043,39518,064
71374,5728,749
8545446
104,710
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
KEPOET OF THE COMPTEOLLEB OF THE CUEEENCY 505Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {^arranged by States and reserve cities)—Continued
OHIO—C ontinued
CLEVELAND
[In thousands of dollars]
Dec. 31,1928
3 banks
Mar. 27,1929
3 banks
June 29,1929
3 banks
Oct. 4,1929
3 banks
RESOURCES
Loans and discmints (including rediscounts)Overdrafts _ _United States Government securities owned _.Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances _.Banking house, furniture and fixturesOther real estate ownedEeserve with Federal reserve bank _ ___Gasli in vault _-.Due from banksOutside checks and other cash iteras.__Bedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed.._ _Other assets w _.
Total___ _
LIABILITIESCapital stock paid inSurplusUndivided profits—netBeserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid .Circulating notes outstandingDue to banks 1 __Demand depositsTime deposits (including postal savings deposits)United States deposits -
Total depositsBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersAcceptances executed by other banks for account of reporting
banksSecurities borrowedOther liabilities . . _ .
Total _
61,817213
15,18513,4382,6512,943
374,802
64914, 412
155180
4863,063
722
120, 753
4,8003,8501,516
127
3, 51115, 31934,35739,9572,150
91,7887,795
4863,097
203,063
120, 753
9616, 41711, 7102,4602,941
424,100
7617,696
647180
3,5083,482
781
69,35619
14,88511,4141,6232,930
325,295
5897,444
269180
1,8153,529
814
123, 019 120,194
5,5004,3501,559
93
3,5426,771
37, 86345,9874,024
94, 6^52,800
3,5082,487
123,482
142
5,5004,3501, 550
197
6513,6007,696
37, 32045, 6495,103
95,7681,320
1,8151,730
223,529
162
123,019 120,194
70,27832
12, 39212,4585, 374
774,752
6888,423
891180
3,1903,746
564
125, 973
5,5004,3501,697
102
1,0443,5639,236
36, 25744,2285,264
91,9852,115
3,1905,487
3,746194
125,973
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
506 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 (arranged by States and reserve cities)—Continued
OHIO—Continued
COLUMBUS
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
5 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank__ _Cash in vau l t . . . _ -Due from banksOutside checks and other cash items _._Redemption fund and due from United States TreasurerSecurities borrowed
Total.
LIABILITIES
Capital stock paid in _SurplusUndivided profits—netReserves for dividends, contingencies, etc__Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks i . . .Demand depositsTime deposits (including postal savings deposits) _United States deposits
Total deposits.... _Bills payable and rediscounts _Acceptances executed by other banks for account of reporting
banks _Securities borrowed _
Total ._
49,95210
5,899
3,91660
5,2371,676
12,72813591
200
90, 742
5,0005,3501,333
63
1361,812
15, 71543,55112,4321,114
72, 8123,995
41200
90,742
51,62511
7,41610, 274
283,910
665,8941,522
13,53111992
400
94,888
5,0005,3501,386
2031,823
14, 05950, 79811, 541
68077,0783,557
400
94,888
50,9986
6,8359,891
184,427
825,6311,169
11,15025692
200
90, 755
5,0005,3501,292
4741,817
12, 74147, 24410, 969
80871, 7624,779
18200
90,755
51,0599
6,6679,231
194,416
815,3981,656
15,73114092
300
94,799
5,2005,3501,344
128
3371,790
13,42451,13112,1591,047
77, 7612,570
19300
94,799
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 507Abstract of reports of condition of national banks at date of each call during year ended
October 81 y 1929 {arranged by States and reserve cities)—Continued
OHIO—Continued
TOLEDO
[In thousands of dollars]
Dec. 31,1928
lbank
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)United S tates Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesReserve with Federal reserve bank..Cash in vault _Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerOther assets
Total
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid __.Circulating notes outstanding __Due to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsOther liabilities
Total ,
8,4743,5212,533
452826150
1,0991625
17,176
5001,500
47790
4851,7724,404
IS, 6181,500
8
17,176
8,8773,5212,609
547785291
1,3801625
105
18,156
7001,600
49085
108491
1,4635,2116,314
92IS, 0801,600
2
18,156
3, 5211,527
563698163
1,283232575
15,808
7001, 599
46415
49496
1,4395,0255,012
5811, 584
9501
15,808
7,5943,5461,543
567571186
1,094152594
15,235
7001,600
4861
89492
1,4224,1385,078
4710,6851,180
2
15,235
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
508 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
OKLAHOMA
[In thousands of dollars]
Dec. 31,1928
310 banks
Mar. 27,1929
299 banks
June 29,1929
293 banks
Oct. 4,1929
286 banks
RESOURCES
Loans and discounts (including rediscounts).Overdrafts _United States Government securities owned_Other bonds, stocks, securities, etc., ownedC ustomers' liability account of acceptancesBanking house, furniture and fixtures.Other real estate ownedReserve with Federal reserve bankCash in vaultDue from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _ __Other assets.
91,491300
30 34237, 644
56,3801,205
11, 7354,773
37, 524485270
90,589364
31, 98037,493
16.2781,069
11,2284,428
26,405481264
89, 509216
30,70734,969
56,132
96310, 3713,496
25,639397263
193251
253179
135150
Total- 222, 598 211,012 202,952
LIABILITIES
Capital stock paid inSurplus. __Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
! unpaidCirculating notes outstandingDue to banks i _.Demand depositsTime deposits (including postal savings deposits)United States deposits _ .__
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers. _Acceptances executed by other banks for account of reporting
banksSecurities borrowedOther liabilities
14,4154,386
972548
4335,377
14,429135,64043,8061,694
195,569
645
14,1154,3782,491
196
3905,2149,095
126,94746,092
730
100939
13,4654,3632,081
310
2735,2378,114
119, 20545,866
365178,550
3203,129
519355
125371
13584
Total- 222,598 211,012 202, 952
91,786396
29, 68033,191
6,211942
10,8004,205
26,702440256
11186173
204, 979
13,2804,3672,805
193
2624,9748,535
121,80345,296
276175,910
1472,784
11
186
204,979
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOBT OF THE COMPTROLLER OP THE CURRENCY 509Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
OKLAHOMA—Continued
MUSKOGEE
[In thousands of dollars]
Dec. 31,1928
3 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts-. _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank.Cash in vaultDue from banks•Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets.,. ,
Total.
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid ___Circulating notes outstanding. __Due to banks *.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits ._.Agreements to repurchase United States G overnment or
other securities sold.--Bills payable and rediscounts _Other liabilities _
1 Includes certified and cashiers' eheeks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
510 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81 > 1929 {arranged by States and reserve cities)—-Continued
OKLAHOMA—Continued
OKLAHOMA CITY
[In thousands of dollars]
Dec. 31,1928
6 banks
Mar. 27,1929
7 banks
June 29,1929
7 banks
Oct. 4,1929
7 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate owned...Reserve with Federal reserve bankCash in vault-._Due from banks.. __Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowed.Other assets
47, 25518
14,46715,9052,662
566,010
87821, 779
3024
90180
Total. 109, 606
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid ._C irculating notes outstanding _Due to banks1
Demand deposits. _Time deposits (including postal savings deposits)United States deposits
Total deposits _Agreements to repurchase United States Government or
other securities sold.Bills payable and rediscountsSecurities borrowed
5,350850857194
15973
30, 56442, 34928,990
130102, OSS
90
Total. 109,606
41,38813
14,09715,6902,729
65,747
74419,741
3904
90138
46, 22721
13, 74015,6482,722
65,321
61118, 787
3924
90161
100, 777 103, 730
5,9501,320
861145
23474
20, 23544, 29125,743
29490,56S
1,54090
6,2001,320
650182
18172
19, 52143,66127, 251
23990, 672
2004,163
90
100, 777 103, 730
47,79951
13, 60114,8412,715
5,682859
21,534165
4158164
107,573
6,2001,320
827141
31875
22,24143,04227,312
30892,903
5,631158
107,573
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOBT OF THE COMPTROLLER OF THE CURRENCY 511Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 (arranged by States and reserve cities)—Continued
OKLAHOMA—Continued
TULSA
[In thousands of dollars]
Dec. 31,1928
6 banks
Mar. 27,1929
6 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned.Customers' liability account of acceptances—Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault__Due from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets __. .__
64,46841
10, 60012, 267
286,071
768,8741,260
18, 79840831
130
Total. 123, 052
64, 91427
10, 41312, 502
656, 234
1167,3301,269
14, 9791363134
118,050
68, 09122
10, 39813, 366
524,984
5308,138
89316, 217
2263110
122,958
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding- _Due to banks *Demand deposits _Time deposits (including postal savings deposits)...United States deposits.-. _
Total depositsBills payable and rediscountsAcceptances executed for customers .Other liabilities
6,4502,5001,626
229625
32, 24360,99717, 790
354111,384
28131
6, 4503,1001, 457
207
303618
16, 43264, 69424, 444
121105,691
15965
5, 4502,6501, 261
5
269616
16,09865,01827,176
108108,400
4,25552
Total. 123,052 118,050 122, 958
67, 08923
10, 56714, 738
3765,009
2217,4851,152
15,05233431
126
122, 203
5,9502,650
87837
464588
15, 87762, 68728,436
237107,287
3,912376111
122, 203
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
512 OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81 > 1989 {arranged by States and reserve cities)—Continued.
OREGON
[In thousands of dollars]
Dec. 31,1928
88 banks
Mar. 27,1929
86 banks
June 29,1929
86 banks
Oct. 4,1929
87 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securites, etc., owned _Customers' liability account of acceptancesBanking house, furniture and fixtures...Other real estate ownedReserve with Federal reserve bankCash in vault _._Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _.Other assets
Total .--.
LIABILITIES
Capital stock paid in , _.Surplus _Undivided profits—netReserves for dividends, contingencies, etc _ _ _Reserves for interest, taxes, and other expenses, accrued and
unpaidCirculating notes outstanding..Due to banks1 ...Demand depositsTime deposits (including postal savings deposits)United States deposits _
Total deposits _Agreements to repurchase United States Government or
other securities soldBills payable and rediscounts _ _.Acceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersOther liabilities
Total
45, 74862
11, 59516,431
13,187
9054,4672,6909,463
196135
100
95,019
6,1703,1621,017
114
1102,6522,150
47,42030, 935
15480, 659
201,009
10015
95,019
45,09269
11,86516, 218
3,194822
4,1072,4996,875
103136
39
91,019
6,1453,1221,138
50
1412,6701,617
42,85831,020
10275, 597
1142,039
91,019
45, 92769
11, 86115,848
23,206
7814,4132,3438,107
229136
40
92,962
6,1453,1291,181
123
2, 7121,895
45,08130,457
16777,600
141,956
92,962
47,01995
12,18716,264
23,256
7654,5392,6669, 763
205138
6,2453,1641,548
90
1392,7171,979
48,95331,278
110
673
i Includes certified and cashie.rs' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OP THE CURRENCY 513Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by Stales and reserve cities)—Continued
OKEGON— Continued
PORTLAND
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
6 banks
June 29,1929
7 banks
Oct. 4,1929
7 banks
*> RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned _..Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bankCash in vaultDue from banks _ _Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets
Total .
LIABILITIES
Capital stock paid inSurplus .Undivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpa id . _Circulating notes outstandingD u e to banks *Demand deposits -T ime deposits (including postal savings deposits)United States deposits ____
Total depositsBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Acceptances executed for customersAcceptances executed by other banks for account of reporting
banks
Total-
44, 65553
34,45426,880
833, 343
326, 5171,194
18, 766244126
851347
137, 545
6,4003,2702,592
212
3542,510
15, 50049, 25756, 388
123121, 268
85175
13
137, 545
47, 67654
34, 74428,428
1333,473
247,3871,430
14, 316117126
167478
52, 70137
35,13828,019
1753,483
246,9431,200
16, 726358125
22358
138, 553 145, 309
6,8003, 5302,434
248
5542, 456
14, 94049, 56657, 249
153121, ^OS
325
16782
51
7,0003,5502,380
149
2502,510
15, 11151, 50559, 236
165126,017
3,250
22
119
138,553 145,309
54, 98130
34,43427,076
673, 486
247,1871, 592
17, 049201126
10448
146, 711
7,0003, 5502,590
60
8852,566
16, 46853, 82659,213
17112 9,678
600
1044
23
146, 711
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
514 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
PENNSYLVANIA
[In thousands of dollars]
Dec. 31,1928
822 banks
Mar. 27,1929
821 banks
June 29,1929
820 banks
Oct. 4,1929
817 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities owned _Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned..Eeserye with Federal reserve bank._Cash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Securities borrowedOther assets
901,764223
152,115515, 411
78863, 3198,63564,49631, 79475,7242,1773,082
33249
2,549
909,946254
152, 606512, 680
96163, 7999,42662, 85629,70261, 7961,4423,092
51299
3,074
927, 215242
151,339502,506
83164, 61610,11763,17724,133
2,2433,122
23323
3,650
Total. 1, 822, 359 1, 811, 984 1, 820,165
LIABILITIES
Capital stock paid inSurplus _.Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding •_.Due to banks *_Demand depositsTime deposits (including postal savings deposits)United States deposits .
Total depositsAgreements to repurchase United States Government or
other securities sold.._Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement - -Acceptances executed for customersAcceptances executed by other banks for account of report-
ing b a n k s . . . . . fc _Securities borrowedOther liabilities **
92, 875153,03047, 0123,066
3,11261,01222, 786
475,451927,179
2,5951,428,011
94, 423155, 736
51, 8101,740
3,78361, 27321, 254
452, 739927, 675
3,1711,404, 889
31, 738
33539
249249
1,433
35,232
51646
315299
1,837
157, 90549, 3413,708
3,10862,16621, 577
447, 511922, 255
4,4701, S95,81S
1349,043
23391
440323
1,643
941,044305
149, 682495,043
85866,14710,05562, 27128,63874,213
1,8173,144
62324
3,582
1,837,185
96, 929159, 53856,0761,945
4,32561,62821,026
472,296916,527
4,3231,414,178
1439,668
62559
299324
1,646
Total. 1,822,359 1,811,984 1,820,165 1,837,185
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPORT OF THE COMPTROLLER OF THE CURRENCY 515Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States arid reserve cities)—Continued
PENNSYLVANIA—Continued
PHILADELPHIA
[In thousands of dollars]
Dec. 31,1928
29 banks
Mar. 27,1929
28 banks
June 29,1929
30 banks
Oct. 4,1929
28 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault _ _Due from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed __ _Other assets
478,83728
49,60887, 56517,76713,3331,389
41, 9858,082
154, 6431,870
301
1,2,471
492,68520
50,61080,45416, 57213,2551,491
41,0609,083
106,4232,641
290
4,8401,6044,436
491,41126
49, 53175,98917, 76613,4401,754
44,9185,510
117,0391,323
293
7,2431,473
18, 879
Total. 865,381 825,464 846, 595
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _ _.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks i _ _Demand deposits _Time deposits (including postal savings deposits)United States deposits __..
Total deposits..Agreements to repurchase United Stated Government or
other securities soldBills payable and rediscounts _Acceptance of other banks and bills of exchange or drafts sold
with indorsement _Acceptances executed for customers__Acceptances executed by other banks for account of reporting
banks -Securities borrowed. __Other liabilities
35, 60880,85812,0062,344
1,9715,937
159, 678381, 034129,3873,070
678,169
22,441
14,319
4,6241,6394,602
80,24213, 2601,842
2,2955,765
137, 641347, 509123, 6594, 210
618,019
1,50044,376
4,84014,204
3,2501,6043,959
37,75087,91211, 5132,270
2,5905,544
141, 515368, 791120,3748,404
639,084.
28,632
7,24313,756
4,7531,4734,075
Total. 865,381 825,464 846,595
497,46615
47,68570,42918,09513,6551,92643,1046,702
106,6812,057280
6,741673
14,000
829,509
38,15687,26613,3921,244
3,4165,535
145,120340,003115,6166,504
w?, m10,00032,319
6,74116,204
6733,952
829,509
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
516 BEPOBT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 (arranged by States and reserve cities)—Continued
PENNSYLVANIA—Continued
PITTSBURGH
[In thousands of dollars]
Dec. 31,1928
13 banks
Mar. 27,1929
11 banks
June 29,1929
11 banks
Oct. 4,1929
11 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts --United States Government securities ownedOther bonds, stocks, securities, etc., owned _ _.Customers' liability account of acceptancesBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bankCash in vault.__ _ _ -Due from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementOther assets..
Total.
LIABILITIES
Capital stock paid in -Surplus. __Undivided profits—netReserves for dividends, contingencies, etcJKeserves for interest, taxes, and other expenses accrued and
unpaid .Circulating notes outstandingDue to banks *__Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits __.Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers.._Acceptances executed by other banks for account of report-
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOET OF THE COMPTSOJLLEB OF THE CHJKKENCY 517
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 (arranged by States and reserve cities)—Continued
RHODE ISLAND
[In thousands of dollars]
Dec. 31,1928
11 banks
Mar. 27,1929
10 banks
June 29,1929
10 banks
Oct. 4,1929
10 banks
KESOURCES
Loans and discounts (including rediscounts) _ —OverdraftsUnited States Government securities ownedOther bonds, stoeks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures__Other real estate owned .._Reserve with Federal reserve bank__Gash in vaultDue from banks _Outside checks and other cash items^Redemption fund and due from United States TreasurerOther assets _..
Total —
LIABILITIES
Capital stock paid inSurplus.-.Undivided profits—net...Beser ves for dividends, contingencies, etcBeserves for interest, taxes, and other expenses accrued and
unpaid.Circulating notes outstanding, _ _Due to banks1-- _Demand depositsTime deposits (including postal savings deposits)United States deposits..
TotaldepQsitsBills payable and rediscounts _Acceptances executed for customersOther liabilities
Total.._ -
33,77812
6,52515,158
80770103
2,4071,5953,589
19197187
64,420
4,6205,1952,556
3143,8652,290
27,93415, 306
31745,847
1,64081
104
64,420
S3,6815
6,45914,234
6776896
2,4411,3532,841
7192152
62,196
4,5205,1202,528
171
1973,7551,440
26, 22915,452
337A 4582,305
6775
62,196
33,752
6,23313,487
3975095
2,1181,0832,710
13192113
60, 589
4,5205,1352,369
313
3413,7991,692
23, 57115,606
32641,1952,806
3972
33,7614
6,37213,155
11675095
2,2651,1962,304
18192
60,326
4,5205,1552,598
236
2113,7991,516
23,89215,971
31541,6941,926
128
60,326
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
518 REPORT OF THE COMPTROLLER OF THE CTJRRENCf
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
SOUTH CAROLINA
[In thousands of dollars]
Dec. 31,1928
55 banks
Mar. 27,1929
53 banks
June 29,1929
53 banks
Oct. 4,1929
52 banks
BESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate owned _ _Reserve with Federal reserve bank..Cash in vaultDue from banks___ ___Outside checks and other cash items .Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement.. _ _Securities borrowedOther assets
76,595137
11, 35115, 4362,0414,9782,6185,0972,973
16, 622240294
267
Total. 138, 747
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks 1.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits....Agreements to repurchase United States Government or
other securities sold...Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersSecurities borrowedOther liabilities
9,6255,4311,266
500
1505,785
10,86844,28055, 8151,397
112,360
2501,200
2,0419841
Total. 138,747
80,40186
II, 61614,234
8674,9712,5644,2542,597
11,261170291
1119
210
76,36651
10,43714,526
175*,9762, 5493,8671,578
10,356256290
1117
207
133, 552 125,662
9,5505, 4252,026
91
4955,7759,013
39,80254,7003,036
106,561
382,663
11867
1941
9,5505,3861,679
216
5275,8117,688
34, 68553, 2832,529
98,185
724,001
111751782
133,552 125,662
71,22768
9,92814,814
4154,9392,2953,6722,240
12,601222
1015
198
122,927
9,450
1,828452
2095,6429,361
34,70349,927
1,96695,967
3,588
10415
1531
122,927
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OP THE CURRENCY 519Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
SOUTH DAKOTA
[In thousands of dollars]
Dec. 31,1928
96 banks
Mar. 27,1929
95 banks
June 29,1929
93 banks
Oct. 4,1929
92 banks
RESOURCES
Loans and discounts (including rediscounts) . _OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned...B anking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault. _Due from banksOutside checks and other cash items.Redemption fund and due from United States Treasurer.Securities borrowedOther assets
36,00361
10,48416,3412,3121,2353,7791, 689
10, 29828310630
133
Total.
LIABILITIES
Capital stock paid in. __Surplus -Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstanding _Due to banks *Demand deposits _Time deposits (including postal savings deposits)United States deposits _
Total depositsAgreements to repurchase United States Government or
other securities sold..Bills payable and rediscountsSecurities borrowedOther liabilities-
82,754
4,5952,1771,004
130
2,1195,542
36,40229,762
34770,058
42830
129
Total- 82,754
36,424114
10, 71016,1442,3651,1423,6351,6287,403
180
79,941
36,95167
10,46615, 7422,3761,0873,5781,4428,874
250953045
81, 003
4,4902,1891,053
1051,9154,720
34, 54629,715
48669,467
46630
173
4,4152,181
944106
1011,8854,696
35, 54429,918
37070,528
3763730
139
79,941 81,003
38,340102
10,42916,2652,409
9093,8201,6268,669
226943089
83,008
4,3902,1401,183
1211,858
37,65129,716
41972,655
42230
140
83,008
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°—30 34
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
520 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober $1, 1929 {arranged by States and reserve cities)—Continued
TENNESSEE
[In thousands of dollars]
Dec. 31,1928
96 banks
Mar. 27,1929
95 banks
June 29,1929
93 banks
Oct. 4,1929
93 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts..United States Government securities ownedOther bonds, stocks, securities, etc., owned __Customers' liability account of acceptances ,B anking house, furniture and fixtures _Other real estate ownedKeservewith Federal reserve bankCash in vaultDue from banksOutside checks and other cash items __Redemption fund and due from United States Treasurer..Securities borrowed _Other assets _
Total.
LIABILITIES
Capital stock paid inSurplusUndivided profits—net _Reserves for dividends, contingencies, etc _.Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandng -Due to banks 1-Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities sold ._ _ _Bills payable and rediscounts. __Acceptances executed for customersSecurities borrowedOther liabilities
112, 749177
13,97612,856
4466.6521,1497,9464,267
21, 557448500607120
183, 450
12,139
1,672242
4249,92618,50862, 232
1,748145,182
119,451164
14,80213,651
1618,6731,0747,3664,06016, 916
41850357687
120,613146
13, 79815,794
5078, 5591, 7147,2692,98816, 485
563522738
187, 902 189, 785
14, 2148,0832,873112
37610,01615,16161,175
2,449147,681
14,1398,0882,467
10,36112,83960,20371,3151,622
145,979
5,692446607132
3,77116157639
6,56250773860
Total. 183,450 187, 902 189, 785
121, 861^ 187
13,46912, 515
3948,6261,8467,3603,444
17,663568542721184
189, 380
14,1398,0952,793
65
57710,64014,481
1,390143,708
2067,910394721132
189, 380
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
KEPORT OF THE COMPTROLLER OF THE CUKKENCY 521
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States a?id reserve cities)—Continued
T ENNESS EE—Continued
MEMPHIS
[In thousands of dollars]
Dec. 31,1928
lbank
Mar. 27,1929
lbank
June 29,1929
1 bank
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _ _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets
11,7562
3,7032,6301,136
1461,498
3726,227
842
Total _ 27,556
LIABILITIES
Capital stock paid in_ _ „SurplusUndivided profits—net..'Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid.. _ ....Circulating notes outstandingDue to banks 1.Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscounts _Other liabilities
1,00080020135
1550
6,49610, 3518,510
37
61
Total- 27,556
11,09532
4,7572,6451,137
1451,152
3703,824
512
25, 210
1, 00080015358
13550
4,5689,3388,993
18$2,917
97
25,210
12,0526
4,7452,2611,136
120411258
3,139572
24,187
1,00080025158
1550
3,0729,4578,825
5221,406
500107
24,187
39,96274
3, 7674,7233,239
1202,710
74116,317
1473
94
71,897
4,5004,3002,110
61
14050
13,57223,87048,052
13«65,6304,905
201
71,897
1 Includes <3ertified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
522 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober SI, 1929 {arranged by States and reserve cities)—Continued
TENNESSEE—Continued
NASHVILLE
[In thousands of dollars]
Dec. 31,.1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
5 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank _.Cash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowed.-- ___ . - .Other assets.. _._
Total _
LIABILITIES
Capital stock paid inSurplus __ _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid... _Circulating notes outstandingDue to banks i _Demand deposits ___ .-.__.Time deposits (including postal savings deposits) __..United States deposits
Total deposits ,. ._...Bills payable and rediscounts _Acceptances executed for customersAcceptances executed by other banks for account of report-
ing banksSecurities borrowed...Other liabilities
Total
51,99314
3,7063,560
1471,960
3573,239
57912,230
43416011584
78, 578
5,3254,3551,084
2543,16112,99124,22024,143
3961,8982,344
139115392
78, 578
56,09513
3,7053,776404
2,005374
3,765613
9,2722531609084
5,3254,3851,209
45
3,16515,00025,19721,847
2462,0683,273
10
39490347
80,609
56, 61723
4,8826,779147
2,044381
3,654486
10, 21659221790208
5,8255,13595927
4444,32710, 63324, 573
10964,0045,000
37
11090378
86, 336
57,62032
5,0133,999237
2,060373
3,391784
12,1483322259094
5,8255,1359951
4413,6339,41125,04423, 897
3468,88611,322
7
230
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OP THE CURRENCY 523Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
TEXAS
[In thousands of dollars]
Dec. 31,1928
592 banks
Mar. 27,1929
584 banks
June 29,1929
584 banks
Oct. 4,1929
582 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances....Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank—Cash in vault-._Due from banks—Outside checks and other cash items.Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _Other assets— _
307,9031,056
71,61433, 328
311,0101,090
76,77730,586
299,452799
70,29532,220
17, 6416,101
30, 25714, 68994,9552,0621,168
775
17, 6165,92527, 73213,14468, 2761,2891,168
17, 7595,87225,00310,49060,0991,6281,169
653542
419396
Total. 582,006 555, 814 525, 601
LIABILITIES
Capital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid..Circulating notes outstanding.,Due to banks *Demand deposits _ _Time deposits (including postal savings deposits)United States deposits
Total deposits.... ,Agreements to repurchase United States Government or
other securities sold _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement -Acceptances executed for customersSecurities borrowedOther liabilities ._». -_ . .
46,02025,1219,0701,312
43,905360, 51065,8043,545
478,764.
1602,121
45,60525,03912, 364
502
64723,02132,166
335, 21872,1873,588
448,159
4633,949
45, 58525,24911, 5561,194
69123, 23226,139
305, 57470, 7942,915
405,4%2
1,25410,575
285653406
419424
Total . 582,006 555,814 525, 601
310,2781,606
65,32233,096
817, 6885, 815
27,44013, 70374,9312,3261,176
316419
554,124
45, 31025,02513, 378
739
79322,94331,615
327,44071,9002,944
488,899
1,3049,890
316519
554,124
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
524 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
TEXAS—Continued
DALLAS
[In thousands of dollars]
Dec. 31,1928
7 banks
Mar. 27,1929
6 banks
June 29, ! Oct. 4,1929 I 1929
6 banks 6 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned .Other bonds, stocks, securities, etc., owned _ _..Customers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement .Other assets __.
Total.
LIABILITIES
Capital stock paid in _SurplusUndivided profits—net ._.Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid— _Circulating notes outstanding.Due to banks *Demand deposits _Time deposits (including postal-savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Acceptances executed for customersOther liabilities
Total.
107,948148
30, 8109,3954,5994,950
7389,7501,484
30, 5081,242
317
250176
202, 315
13,6504,3505,243
356
6746,221
43,61474,13531,15914, 301
168,209
1633,475
2504,599
125
202,315
92,76588
34,2809,2723, 4654,905
7099,1311,230
24,680731280
89,71776
26,6508,6222,5255,122
7068,3091,100
22,349587280
259 167
181,795 j 166,210
13,1504,7005,349
416
4605,488
27,14271,12335,37014,248
U7,883
860
3,47613
181,795
13,1504,7005,159
442
5475, 561
21, 838
33,09010,558
183,784.% 303
2,6059
166, 210
103,000257
20,67510,0435,4585,246
6987,1481,414
30, 855808280
50168
186,100
13,1504,7005,633
403
6755,475
33, 66171, 08429,49112, 346
146,589
3,625
505,787
17
186,100
i Includes certified and cashiers' checks, and cash letters of credit and. travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 525Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
TEXAS—Continued
EL PASO
[In thousands of dollars]
KESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, e t c , owned.....Customers' liability account of acceptances _Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault „_ _Due from banks _Outside checks and other cash items _..Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts sold
with indorsement
Total .
LIABILITIES
Capital stock paid inSurplus _Undivided profits—netReserves for interest, taxes, and other expenses accrued and
unpaid ._Circulating notes outstanding.Due to banks 1 _Demand deposits „Time deposits (including postal savings deposits)-.United States deposits
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts sold
with indorsementAcceptances executed for customers
Total _
Dec. 31,1928
3 banks
16,71516
5,4783,792
2741,103
1592,032
6755,024
14940
223
35, 680
1,600800180
21788
4,37918, 2547,6301,279
SI, 542
252
223274
Mar. 27,1929
3 banks
16,61113
6,6262,948
2601,104
1632,028
6334,683
11240
35, 221
1,600900130
37784
3,52317,7888,0042,195
81,510
260
35, 221
June 29,1929
3 banks
16,45443
5,2273,117
1781,115
1442,113
2903,858
26540
32, 846
1,6001,000
164
25799
3,36417,1837,523
81828,888
90100
2178
32,846
Oct. 4,1929
3 banks
17,32441
4,2973,444
1471,116
1421,978
. 4314,902
22040
17
34,099
1,6001,000
214
64781
3,40817, 6927,139
68028,919
1,357
17147
34,099
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
526 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
TEXAS—Continued
FORT WORTH
[In thousands of dollars]
Dec. 31,1928
5 banks
Mar. 27,1929
5 banks
June 29,1929
5 banks
Oct. 4,1929
5 banks
RESOURCES
Loans and discounts (including rediscounts)_ _Overdrafts __United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixture.sOther real estate ownedReserve with Federal reserve bank.Cash m vaultDue from banksOutside checks and other cash items. _ .. -Redemption fund and due from United States Treasurer-Other assets..
Total.LIABILITIES
Capital stock paid inSurplus — -Undivided profits—net -Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstandingDue to banks l.-Demand depositsTime deposits (including postal savings deposits) _ _United States deposits.
Total deposits . ,Bills payable and rediscountsAcceptances executed for customersOther liabilities ,
Total.
52,013151
9,2456,761
2,996890
6,0111,117
19, 75327212834
•9, 371
4,4502,600
86847
742,500
36,94235,12215,608
60088,272
300
260
99,371
49,68989
9,9486,493
1002,997
8915,4021,254
15, 59457012828
93,183
4,4502,6001,200
143
1852,506
18,42643,70816,3391,258
79,7812,206
10062
93,183
\
48,737120
9,6006,268
2,998849
5,413931
15,90830112826
91, 279
4,4502,6001,172
215
1152,549
17, 91740,41817,477
49476,8063,833
91, 279
51, 987152
10,8286,423
2003,000
4995,0771,030
18,73930612722
98, 390
4,9502,6002,100
100
3122,548
19, 07441,20016,9841,093
78,8517,188
20041
98,390
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
EEPOKT OF THE COMPTROLLER, OF THE CURRENCY 527Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
TEXAS—Continued
GALVESTON
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned _Customers' liability account of acceptancesBanking house, furniture and fixtures... ._Other real estate ownedReserve with Federal reserve bank__Cash in vaultDue from banks . . . __.._Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets
21,813275,417
2,842583977167
1,775668
3,6891884'
16,651
6,6852,762400983167
1,515641
3,6531168
Total. 38,060
LIABILITIES
Capital stock paid in „__SurplusUndivided profits—net__Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding. _Due to banks i ,.Demand depositsTime deposits (including postal savings deposits)United States deposits ._•
Total depositsBills payable and rediscountsAcceptances executed for customers _Other liabilities
2,15085034482
1311,3409,0148,28213,994
29SI, S191, 2605831
Total. 38,060
33, 544
2,15085042228
2271,3355,2138,09613, 650
263m, 222
910400
33, 544
14,49819
6,6382,964351981160
1,249496
2,89726
30, 348
2,150850422
1491,3314,0267,52913,092
22724,874
8535140
30, 348
16,02814
6,2312,994900979161
1,187409
4,19613
33,180
2,15085048740
1351,3134,8587,71913,821
23926,637
615-90053
33,180
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
528 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
TEXAS—Continued
HOUSTON
[In thousands of dollars]
Dec. 31,1928
10 banks
Mar. 27,1929
10 banks
June 29,1929
10 banks
Oct. 4,1929
9 banks
BESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture, and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault ._Due from banks__.Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _ _Other assets _
Total. ..._
LIABILITIES
Capital stock paid in ._Surplus _._Undivided profits—net _Reserves for dividends, contingencies, e t c . . .Reserves for interest, taxes, and other expenses, accrued and
linpaid. _Circulating notes outstandingDue to b a n k s 1 . . - -Demand deposits .Time deposits (including postal savings deposits) __United States deposits __.
• Total deposits.Agreements to repurchase United States Government or
other securities sold _._ ___Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customersOther liabilities
Total
87,39650
23,23612,0571,1656,982"
21410,1332,034
27,175348265
1,832308
173,195
8,8505,0801,525
5285,205
35,60071, 30135,9441,845
144,690
513,075
1,8321,165
395
173,195
89,12654
23, 89711,188
4086,496
7079,6512,202
22,290234265
560305
84,76753
20,54010, 6911,3917,288
2058,6381,609
25,161224315
26290
167,383 161,198
9,4506,0902,245
519
5695, 234
25,59374,29636, 7193,719
W, 827
511,300
560408630
9,6506,4402,031
560
6635,294
21, 71572,64936,7422,675
188, 781
40900
261,391
422
167, 383 161,198
92,45459
17, 77010,279
2787, 322
1538,9211,986
26,015469275
284
166, 493
9,4006,4302,616
425
6145,419
32,06466,86736, 0443,051
188, me
2,663
284278310
166,493
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 529Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 (arranged by States and reserve cities)—Continued
TEXAS—Continued
. SAN ANTONIO
[In thousands of dollars]
Dec. 31,1928
7 banks
Mar. 27, June 29,1929
7 banks
1929
7 banks
Oct. 4,1929
6 banks
EESOURCES
Loan s and discounts (including rediscounts)Overdrafts __United States Government securities ownedOther bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixtures....Other real estate owned.__ _Beserye with Federal reserve bankCash in vault _Due from banks _Outside checks and other cash items ._Redemption fund and due from United States TreasurerOther assets
Total...... _
LIABILITIES
Capital stock paid in __Surplus ___ ,Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid ___Circulating notes outstandingDue to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsAcceptances executed for customersOther liabilities. -
Total
41,374161
8,2502,812
43, 484
9984,093
95911,290
145140319
45,021106
10,1732,327
44,160557
4,448973
7,96357187232
74, 029 76, 208
4,6501,670887118
2492,76310,04233,72618,660
13162,559
9254
204
5,9502,3201,495111
3293,7017,325
35, 66517,926
24861,1641,000
4134
74,029 76,208
40,69744
10, 3033,210
4,089367
4,164718
8,46853188138
72, 439
5,9502,3201, 553118
3,7406,51331,92918,426
27557, lJfi1,254
173
72, 439
37,52233
6,5612,394
3, 552276
3,262795
7,693106137126
62, 457
4,9502,1201,528
2472,6947,40027, 45114,030
59
1,823
106
62,457
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
530 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year ended,October 81, 1929 {arranged by States and reserve cities)—Continued
TEXAS—Continued
WACO
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned...Banking house, furniture and fixtures...Other real estate ownedBeserye with Federal reserve bank.. __ _Cash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States Treasurer.Other assets
Total.LIABILITIES
Capital stock paid inSurplus ._Undivided profits—netReserves for dividends, contingencies, etc _.Reserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding, _.Due to banks *__Demand depositsTime deposits (including postal savings deposits)United States deposits.
Total depositsBills payable and rediscounts
12,28447
4, 6492,037
763239
1,445565
3,5101528240
25, 813
1,650440247
1,6173,160
11,2027,417
3421, 818
12,95959
5,1022,092
763222
1,488532
1,8695682
25, 233
1,650440336
7
451,6151,835
11,9397,344
2221, no
11, 79263
4,9392 234
773196
1,470463
1,472508444
23, 580
1,650440316
15
251,6301,490
10, 3157,510
18919,604
Total . 25,813 25, 233 23,580
12,52852
4, 8702,258
774191
1,803567
3,98660829
27,180
1,650440394
15
411,6283,193
12,1587,181
9322,625
387
27,180
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CTJRRENCT 531Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
UTAH[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities owned.Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bank _Cash in vaultDue from banksOutside checks and other cash items _- __Redemption fund and due from United States TreasurerOther assets
Total
LIABILITIES
Capital stock paid inSurplusUndivided profits—net __ ^Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
Total depositsBills payable and rediscountsOther liabilities
Total
Dec. 31,1928
14 banks
7,02319
1,4341,092
42874
5292049381624
11, 781
8003822150
32457221
4, 7894,9459,955
84
11, 781
Mar. 27,1929
14 banks
7,13123
1, 20498843162
45118370817224
11, 224
8003934538
39459113
3,8565,2209,189
2592
11,224
June 29,1929
14 banks
6,97517
1,212994437
554381945923823
10, 975
8003937854
24467134
3,5515,1368,821
3362
10,975
Oct. 4,1929
14 banks
6,86423
1,2121 058
44647
4302077472421
11,079
8003939852
28459185
3,5935,0818t859
3882
11,079
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
532 REPORT OF THE COMPTROLLER OF THE CURRENCY
.Abstract-of reports of condition of national banks at date of each call during year endedOctober 81 j 1929 {arranged by States and reserve cities)—Continued.
UTAH—Continued
OGDEN
[In thousands of dollars]
Dec. 31,1928
2 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts...United States Government securities owned _Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures _._ _Other real estate owned^Reserve with Federal reserve banks. _Gash in vault•Due from banksOutside Gh«cks and other cash items•Redemption fund and due from United States Treasurer.Other assets— _
6,22510
1,1981,303
22529
810171
3, 2782293432
5,33-912
1,5781,243
22029
671186
1,647893425
Total _ 13, 544 11,073
LIABILITIES
Capital stock paid in _ -•Surplus
. Undivided profits—net _ _Reserves for dividends, contingencies, etc. _Heserves for interest, taxes, and other expenses accrued and
unpaid-. ._Circulating notes oustandingDIM to banks 1:l>emand depositsTime deposits (including postal savings deposits)United States deposits.
Total depositsT3ills payable and rediscounts _
750150
7123
4,8465,4441,541
11, 831
7501504197
15669
3, 7474,0901,503
119,351
TotaL 13, 544 11, 073
5,2329
1,6581,175
21929
663105909163824
10, 077
75015031
107
29743
3,1783.5941,478
178,267
10, 077
5,4818
1, 6781, 268
22129
692108
1,245733716
10, 856
75015046
107
7393,4174,2241,365
9,00620
10, 856
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks oustanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OF THE CURRENCY 533
Abstract of reports of condition of national hanks at date of each call during yeat endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
UTAH—Continued
SALT LAKE CITY
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
4 banks
June 29,1929
4 banks
Oct. 4,1929
4 banks
RESOURCES
Loans and discounts (including rediscounts) -Overdrafts --United States Government securities owned...Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank,Cash in vaultDue from banksOutside checks and other cash itemsRedemption fund and due from United States TreasurerOther assets _ . _ _
Total. •- »
LIABILITIES
Capital stock paid in _ ._. .__.SurplusUndivided profits—netReserves for dividends, contingencies, etc _Reserves for interest, taxes, and other expenses accrued and
unpaid.Circulating notes outstanding __. —Due to banks * _Demand deposits.- __.Time deposits (including postal savings deposi • s)United States deposits _
Total depositsAgreements to repurchase United States Government or
other securities sold ,Bills payable and rediscounts -
Total
19,69743
4,6105,646
870113
2,663260
7,848665395
41, 964
2,1001,055
195
941,0459,339
19,3078,373
1237,031
16100
41,964
19,84716
4,3155,191
871112
2,405250
5,336415249
38, 485
2,1001,055
348
1131,0317,093
17, 5878,789
883,477
75
38,485
19,84781
4,1955,077
877110
2,225282
7,892815345
40, 765 I
2,1001,040
351
941,0238,480
18,2368,478
1485, $08
650
40, 765
21,06925
4,2364,862
890108
2,368289
7,491995343
41, 533
2,1001,040
513272
1001,0329,503
17,989
7135,986
550
41, 533
1 Includes certified and cashiers' checks ,and >>ash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
534 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
VERMONT
[In thousands of dollars]
Dec. 31,1928
46 banks
Mar. 27,1929
46 banks
June 29,1929
46 banks
Oct. 4,1929
46 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures.__Other real estate owned _Reserve with Federal reserve bankCash in vault _ . . .Due from banks.._Outside checks and other cash itemsRedemption fund and due from United States TreasurerSecurities borrowedOther assets...
Total
LIABILITIES
Capital stock paid inSurplusUndivided profits—net __Reserves for dividends, contingencies, etc.. ___Reserves for interest, taxes, and other expenses accrued and
unp aid -Circulating notes outstandingDue to banks1
Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsSecurities borrowedOther liabilities...
Total
41,61341
5,57123,4421,136
1612,8171,1123,933
194215245312
80,792
5,2603,4042,304
254
1084,2642,144
18, 56842,152
29468,168
1,73324562
80,792
41,06244
5,60722, 9471,137
1862,590
9963,036
16021540
273
78,293
5,2603,4042,708
112
1564,2641,544
16,65442,136
13260,466
1, 8074076
42, 72547
5,62123,0241,175
1522,895
9113,247
25021699
317
80, 679
5,2603,4292,416
305
1224,3041,748
17, 61542,743
12962,2852,441
99
80,679
43,36357
5,61122,9971,217
1403,1201,0273,839
198216159240
82,184
5,2603,4292,759
145
1154,2951,698
19,37642,658
12668,8582,001
159163
82,184
* Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 535Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 {arranged by States and reserve cities)—Continued
VIRGINIA[In thousands of dollars]
Dec. 31,1928
162 banks
Mar. 27,1929
162 banks
June 29,1929
162 banks
Oct. 4,1929
158 banks
EESOURCES
Loans and discounts (including rediscounts) __Overdrafts _United States Government securities owned.Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank __Cash in vault _Due from banks _Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Securities borrowedOther assets
Total _.
LIABILITIES
Capital stock paid in _SurplusUndivided profits—net _ _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid _Circulating notes outstanding _Due to banks i_Demand deposits _Time deposits (including postal savings deposits) __United States deposits
Total deposits _ _ _Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers_.Acceptances executed by other banks for account of reporting
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
79003°—30 35
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
536 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
VIRGINIA—Continued
RICHMOND
[In thousands of dollars]
Dec. 31,1928
3 banks
Mar. 27,1929
3 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)__Overdrafts -.United States Government securities owned _.Other bonds, stocks, securities, etc., owned...Customers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banks ___Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Other assets
Total..
LIABILITIES
Capital stock paid inSurplus. _ __Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks *Demand deposits. _Time deposits (including postal-savings deposits)United States deposits _
Total depositsBills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
soid with indorsement.. .Acceptances executed for customersOther liabilities
Total
39,34112
5,0674,988
519509152
1,257243
7,9787350
73271
60, 533
4,3003,800
1291,001
11,75222,65713,883
78049,072
490
73525238
60, 533
41,1713
5,1354,993
250513152
3,202257
7,5381650
167202
63,649
4,3003,775
941211
214982
10,68227,19814,074
54459,4.98
85
167250226
63,649
35,3763
5,2015,238
200266110
3,012264
6,4637550
85219
56, 562
4,0003,750
993244
1,0007,923
23,49213,176
95645,50
450
85200195
56, 562
35,6721
5,0555,420
320269110
2; 713- 3648,252
1850
209
58,492
4,0003,7501,075
108
96510, 67023,18713,380
23047,4$?
330
320212
58,492
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OF THE CURRENCY 537Abstract of reports of condition of national banks at date of each call during year ended
October 31, 1929 (arranged by States and reserve cities)—Continued
WASHINGTON
[la thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., owned __.Customers' liability account of acceptancesBanking house, furniture and fixtures . .Other real estate ownedEeserye with Federal reserve bankCash in vaultDue from banks _Outside checks and other cash itemsRedemption fund and due from United States Treasurer.Securities borrowed _. -Other assets . . .
Dec. 31,1928
98 banks
Total.
LIABILITIESCapital stock paid in._SurplusUndivided profits—netEeserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid __Circulating notes outstanding _ _Due to banks i „Demand deposits ___Time deposits (including postal-savings deposits)United States deposits. _
Total deposits ___Agreements to repurchase United States Government or
other securities soldBills payable and rediscountsAcceptances executed for customersSecurities borrowedOther liabilities
Total.
69,35049
15,88638,664
5,155617
7,0703,791
13,045539249
58
154,453
9,4904,636
999492
3924,3694,43269,69558,323
783
154,453
Mar. 27,1929
100 banks
74,63966
16,37739, 771
55,346
6157,8803,463
14, 20523423213953
163,025
10,0904,7831,582
4714,4974,46776, 74458,403
489140,103
627865
139
163,025
June 29,1929
98 banks
76,94465
16,46737, 211
35,338
5777,5513,214
13,365538243113
161, 692
10,0904, 7611,508
631
2944,8244,617
74,64157,460
876187,594
831,782
3113
9
161, 692
Oct. 4,1929
100 banks
78, 554391
16,54637,307
55,351
5157,3963,548
13,655392245
81
10,1904,7922,266
579
4404,7814,631
76,18457,722
552189,089
1301,708
5
163,986
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
538 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
WASHINGTON—Continued
SEATTLE
[In thousands of dollarsl
Dec. 31,1928
8 banks
Mar. 27,1929
6 banks
June 29,1929
6 banks
Oct. 4,1929
6 banks
RESOURCES
Loans and discounts (including rediscounts).OverdraftsUnited States Government securities owned._Other bonds, stocks, securities, etc., owned.__Customers' liability account of acceptancesBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vaultDue from banks___ _Outside checks and other cash items._Redemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _Securities borrowedOther assets
Total.
LIABILITIESCapital stock paid inSurplusUndivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid.Circulating notes outstandingDue to banks *Demand deposits._ _Time deposits (including postal savings deposits) _..United States deposits
Total deposits..Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers. _Securities borrowedOther liabilities
Total .
67,90850
26,54417, 7041,1953,371
1418,2192,181
28,117394228
1,292430253
158, 027
9,4903,0941,569
572
5194,512
21,12775,19135, 3943,387
185, 099
1,2921,301
430149
158,027
67,49644
31, 55715, 5591,0533,247
1008,1091,811
24,715334233
127430295
71, 59543
26, 74813, 715
8543,318
1008,9671,466
27,184477233
78430230
155,110 155,438
10,7003,0002,190
420
6644,656
20, 04971,13032,6446,810
130, 688925
1271,180
430185
11,5004,0001,663
301
5614,634
23,09670, 591
4,236130,511
700
78890430170
155,110 155,438
79,41260
24,26810,829
9253,442
1008,5871,757
23,324234233
757372
154,300
11,5004,0002,502
232
6374,580
21,82969,63732, 7743,726
127,966900
955757271
154,300
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OP THE COMPTROLLER OP THE CURRENCY 539Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
WASHINGTON—Continued
SPOKANE
[In thousands of dollars]
Dec. 31,1928
4 banks
Mar. 27,1929
2 banks
June 29,1929
2 banks
Oct. 4,1929
2 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities owned _ _Other bonds, stocks, securities, etc., ownedCustomers' liability account of acceptances__ _Banking house, furniture and fixtures. __Other real estate ownedReserve with Federal reserve bankCash in vault ___Due from banks.._ _ _Outside checks and other cash items. _ _Redemption fund and due from United States Treasurer.Other assets
24,04728
3,9854,942
19,3628
4,2622,364
2,228278
2,300446
6,02924
16054
1,60890
1,836578
5,14619
10024
Total. 44, 521 35,397
LIABILITIES
Capital stock paid inSurplus _ _.Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid., —Circulating notes outstanding _Due to banks i__Demand depositsTime deposits (including postal savings deposits)United States deposits ___
Total deposits _.Bills payable and rediscountsAcceptances executed for customers
3,20067534370
1113,1655,93214,19616,061
2086, 209
748
2,000400368
1011,9736,48711,97511,692
4480,198
357
Total. 44, 521 35,397
17, 39210
4,6872,128
191,634
891,702290
4,66958100618
33, 396
2,000400205
1361,9955,73411,01111,399
3428,178
46319
33,396
19,10410
3,7231,588
211,597
141,815429
5,19519100
34,181
2,000350
2141,9685,75012,42311,103
30
21
34,181
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
540 EEFOET OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 81, 1929 {arranged by States and reserve cities)—Continued
WEST VIRGINIA
[In thousands of dollars]
Dec. 31,1928
119 banks
Mar. 27,1929
119 banks
June 29,1929
116 banks
Oct. 4,1929
116 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts....United States Government securities owned ...Other bonds, stocks, securities, etc., ownedBanking house, furniture and fixtures _Other real estate ownedReserve with Federal reserve bankCash in vaultDue from banks -Outside checks and other cash itemsRedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsementSecurities borrowed _Other assets _
Total
LIABILITIES
Capital stock paid in_Surplus _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid.. _ _Circulating notes outstanding.Due to banks *Demand depositsTime deposits (including postal savings deposits)United States deposits
Total deposits _ _Agreements to repurchase United States Government or
other securities sold _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsement. _Securities borrowedOther liabilities _
Total, __
128,40376
16, 02320, 9308,2502,3398,3103,97812,159
389523
151,699853
203, 947
13, 40411, 8794,146
725
40010,1869,032
68,17277, 766
850155, 820
1615,435
151,699
77
203, 947
126,22971
17,59421, 5978,2842,3508,1934,416
12,839264512
10365
129, 79559
17,90621, 4348,1762,7388,3234,305
13, 254435519
10542629
203, 522 208,125
13,40411, 7804,957
415
42910,1928,431
69, 31878, 637
533156,919
604,792
10365199
13,83511, 3224,376
650
55610,3238,219
71, 52977,959
544158,251
8,188
1054272
203, 522 208,125
128, 22769
16,91021,4338,2052,8877,6864,023
11, 485394518
10560612
203, 019
13,84511,3365,071
409
70510,1717,231
69, 22576,376
458158,290
7,555
1056067
203, 019
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 541Abstract of reports of condition of national banks at date of each call during year ended
October SI, 1929 (arranged by States and reserve cities—Continued
WISCONSIN
[In thousands of dollars]
Dec. 31,1928
149 banks
Mar. 27,1929
June 29,1929
150 banks | 151 banks
Oct. 4,1929
151 banks
RESOURCES
Loans and discounts (including rediscounts)Overdrafts _United States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bank,Cash in vault.--Due from banks___lOutside checks and other cash itemsRedemption fund and due from United States Treasurer..Securities borrowedOther assets
Total.
LIABILITIES
Capital stock paid in_ _SurplusUndivided profits—net.. ._Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstandingDue to banks * _Demand deposits _ __ ._.Time deposits (including postal-savings deposits)United States deposits
Total depositsAgreements to repurchase United States Government or
other securities soldBills payable and rediscountsSecurities borrowedOther liabilities...
Total .
152,308111
28, 39773,66910,489
1,77911,9525.734
24; 716561587
3569
310, 875
18, 02510, 358
6,235872
66211,63510, 89295,061
153, 678983
860,614.
32,360
3108
310, 875
160,800187
29,20473, 74710, 715
1,82312, 2995,303
24,467499590
3607
320, 244
18, 35010, 7146,890
642
87311, 68812, 680
101,631151, 704
1,928267> 94S
3,007
134
320, 244
163, 327127
28, 73271,13110,800
1,89211, 702
5,09123, 577
581589
3554
318,106
18, 87511,1986,5551,126
11, 73311,18097, 799
153,3542, 691
265,024.
2,7123
92
318,106
162, 786165
27,15270,07810, 870
1,58911,3035,413
23, 391538589
2573
314,449
19, 49511,4317, 371
781
1,03811,60411,38794, 578
150,1422,506
258,618
3,9982
116
314, 449
1 Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
542 REPORT OF THE COMPTROLLER OF THE CURRENCY
Abstract of reports of condition of national banks at date of each call during year endedOctober 31, 1929 {arranged by States and reserve cities)—Continued
WISCONSIN—Continued
MILWAUKEE
[In thousands of dollars]
Dec. 31,1928
7 banks
Mar. 27,1929
6 banks
June 29,1929
6 banks
Oct. 4,1929
i banks
BESOURCES
Loans and discounts (including rediscounts)Overdrafts __United States Government securities ownedOther bonds, stocks, securities, etc., owned.Customers' liability account of acceptancesB anking house, furniture and fixturesOther real estate ownedReserve with Federal reserve bankCash in vault.._ _Due from banksOutside checks and other cash items.Bedemption fund and due from United States TreasurerAcceptances of other banks and bills of exchange or drafts
sold with indorsement _ ,Other assets _._
Total.
LIABILITIES
Capital stock paid inSurplus.. _Undivided profits—net _Reserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaid. _Circulating notes outstandingDue to banks l
Demand deposits. __.Time deposits (including postal savings deposits)United States deposits _ _
Total deposits _ _Bills payable and rediscountsAcceptances of other banks and bills of exchange or drafts
sold with indorsementAcceptances executed for customers _Acceptances executed by other banks for accounts of report-
ing banksOther liabilities _.
Total.
147,14261
16,02713, 307
1325,2291,2289,9422,731
29,877704217
57568
227, 222
12,1006,9002,675
1,0254,299
32, 61593,88354,007
781181,286
17, 063
5731
1011,005
227, 222
148,65856
15,92910, 724
5585,0911,235
12, 6602,423
27, 382251214
424537
147, 63936
15,4827,9881,6185,1001,339
11,1042,285
24, 226327214
165427
226,142 217, 950
12,4006,9002,949
604
1,5264,249
19, 77750, 804
1,109178, 678
16,179
424463
1,674
VS, 4007,9003,0521,095
1,0584,258
32, 31983, 96551, 233
1,312168, 829
14,440
1651,561
572,135
226,142 217, 950
145,34757
15, 5007,6313,5045,4241,081
11, 3422,608
25,947340214
298361
219, 654
13,4007,9003,429
911
1,5684,238
34,79688, 67751, 021
1,649176,143
7,618
3,491
13645
219,654
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
REPORT OF THE COMPTROLLER OF THE CURRENCY 543Abstract of reports of condition of national banks at date of each call during year ended
October 81, 1929 {arranged by States and reserve cities)—Continued
WYOMING
[In thousands of dollars]
Dee. 31,1928
26 banks
Mar. 27,1929
25 banks
June 29,1929
25 banks
Oct. 4,1929
25 banks
RESOURCES
Loans and discounts (including rediscounts)OverdraftsUnited States Government securities ownedOther bonds, stocks, securities, etc., ownedBanking house, furniture and fixturesOther real estate ownedEeserye with Federal reserve bank__Cash in vault_._ _.Due from banks _Outside checks and other cash itemsRedemption fund and due from United States Treasurer..Other assets _
Total _
LIABILITIES
Capital stock paid inSurplus _Undivided profits—netReserves for dividends, contingencies, etcReserves for interest, taxes, and other expenses accrued and
unpaidCirculating notes outstanding ____Due to banks i __Demand depositsTime deposits (including postal savings deposits)United States deposits
Total depositsBills payable and rediscountsOther liabilities _ _.
Total .
21,76634
7, 5896,3091,055
2602,1731,1656,342
55744
46,826 ;
2,3101,580
72875
211,4814,071
21, 83814, 488
170Jfi, 567
64
46, 826
20, 50248
7,4066,0311,067
2511,8821,1274,378
4675
1
42, 814
2,2701,585
82110
211,4762,761
18, 88114, 480
15486, 276
3541
42, 814
20, 77676
6,9165,8451,069
2181,9051,0304,786
8075
42, 776
2,2701,661
69172
1,4852,603
18, 98514,108
8685,782
42, 776
20,82553
6,3065,5711,073
1912,027
9967,107
7474
44,297
2.2701J661
78413
91,4563,252
20, 51513, 701
14337, 611
493
44, 297
i Includes certified and cashiers' checks, and cash letters of credit and travelers' checks outstanding.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE N O . 61,—Abstract of reports of condition of national banks in each Federal reserve district at date of each call during year ended October81, 1929
DECEMBER 31, 1928
[In thousands of dollars]
DistrictNo. 1(373
banks)
DistrictNo. 2(775
banks)
DistrictNo. 3(687
banks)
DistrictNo. 4(712
banks)
DistrictNo. 5(499
banks)
DistrictNo. 6(377
banks)
DistrictNo. 7(964
banks)
DistrictNo. 8(482
banks)
DistrictNo. 9(663
banks)
DistrictNo. 10
(911banks)
DistrictNo. 11
(688banks)
DistrictNo. 12
(498banks)
TotalUnitedStates(7,629
banks)
RESOURCES
Loans and discounts (including redis-counts). _
Overdrafts"United States Government securities owned_Other bonds, stocks, securities, etc., owned.Customers' liability account of acceptances-Banking house, furniture and fixturesOther real estate owned _.Reserve with Federal reserve banksCash in vaultAmount due from banks and trust com-
paniesOutside checks and other cash itemsRedemption fund and due from United
States Treasurer.Acceptances of other banks and bills of ex-
exchange or drafts sold with indorsement-Securities borrowed _ _.Other assets _.
Total..__ _..
LIABILITIES
Capital stock paid in . __Surplus... _ _ _Undivided profits—net ___Reserves for dividends, contingencies, etc..Reserves for interest, taxes, and other ex-
penses accrued and unpaidNational-bank notes outstanding. _ _.Due to banks (including certified and cash-
iers' checks and cash letters of credit andtravelers' checks outstanding)
ancesBanking house, furniture and fixturesOther real estate ownedBeserye with Federal reserve banksCash in vault___Amount due from banks and t rus t com-
paniesOutside checks and other cash itemsRedemption fund and due from United
States TreasurerAcceptances of other banks and bills of
^xchang^ or drafts sold with indorsement.
1,201,035329
194,167349, 896
71, 35653,2765,002
91, 65725,867
156, 5816,006
2,180
30, 870
3,869, 5141,458
836,8171,047,870
313,497120,97912,426
467,94960,160
1,564,92823, 638
4,351
183, 623
1, 251,787197
170,412476,044
17,46767, 2189,897
92, 58032,952
153, 5953,873
2,733
4,904
1,131,916616
270, 599446, 022
2,76579, 98711, 81895, 37234,150
152, 2152,176
3, 964
4,095
825, 523536
118,369147,337
3,34351,07712,43553, 63023,145
105, 5192,122
284
697, 595781
116, 676107,394
5,55641, 24310,33452,19523, 630
134, 7232,844
2,245
1,492
1, 836, 5751, 540
401,109
23,104100, 57018,468
168, 59248,968
286,0769,074
4,437
1,502
615, 0541,164
125, 938180, 661
1,53526,9215,985
53, 28315, 258
103,1601,320
1,923
1,009
524, 311753
141,895208,385
1,44421, 9398,501
51,72017,130
98, 2543,626
738,9441,372
196,138206, 236
8442,9407,204
83, 76625,398
207, 8623,528
377
685, 0481,609
185, 30975,011
4,68842,4209,981
65, 28622, 717
158, 8913,281
2,378
566
1, 466,8191,886
471, 338324,920
27, 64777, 51314,829
128,49833, 083
262,47310,765
18,985
14,844,12112,241
3, 094,3073,970,885
472,486726,083126,880
1,404, 528362,458
3,384, 27772,253
32, 761
247,867
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 61.—Abstract of reports of condition of national banks in each Federal reserve district at date of each call during year ended October31, 1929— Continued
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
JUNE 29, 1929
DistrictNo. 1(371
banks)
DistrictNo. 2(772
banks)
DistrictNo. 3(686
banks)
District.No. 4(704
banks)
DistrictNo. 5(490
banks)
DistrictNo. 6(366
banks)
DistrictNo. 7(960
banks)
DistrictNo. 8(474
banks)
DistrictNo. 9(645
banks)
DistrictNo. 10
(891banks)
DistrictNo. 11
(678banks)
DistrictNo. 12
(493banks)
TotalUnitedStates(7,530
banks)
RESOUBCES
Loans and discounts (including redis-counts)
Overdrafts '-_-United States Government securitiesowned_Other bonds, stocks, securities, etc., owned.Customers' liability account of acceptances-Banking house, furniture and fixturesOther real estate ownedReserve with Federal reserve banksCash in vaultAmount due from banks and trust com-
paniesOutside checks and other cash itemsRedemption fund and due from United
States TreasurerAcceptances of other banks and bills of ex-
change or drafts sold with indorsement..Securities borrowedOther assets
Total _
LIABILITIES
Capital stock paid in_—Surplus.Undivided profits—netReserves for dividends, contingencies, e tc .Reserves for interest, taxes, and other ex-
penses accrued and unpaidNational-bank notes outstandingDue to banks (including certified and
cashiers' checks, and cash letters ofcredit, and travelers' checks outstand-ing)
Demand deposits _Time deposits (including postal savings)..United States depositsAgreements to repurchase United States
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 61.—-Abstract of reports of condition of national banks in each Federal reserve district at date of each call during year ended October81, 1929—Continued
JUNE 29, 1929—Continued
[In thousands of dollars]
LIABILITIES—continued
Bills payable and rediscountsAcceptances of other banks and bills of ex-
change or drafts sold with indorsementAcceptances executed for customersAcceptances executed by other banks for
account of reporting banksSecurities borrowedLiabilities other than those above stated. . .
Total-
Mar. 27,1929 _
IncreaseDecrease _
DistrictNo. 1(371
banks)
66,3.1.0
23,57467,628
2,261194
9,622
2,178,313
2,209,874
31,561
DistrictNo. 2(772
banks)
210,199
123,348243,453
8,735598
44,124
6,995,344
8, 649,170
1, 653,826
DistrictNo. 3(686
banks)
76,042
7,26614,151
5,1371,7045,670
2,319,264
2,292, 564
26,700
DistrictNo. 4(704
banks)
54,217
1,8821,833
3676,7642,960
2,229,612
2,248,974
19,362
DistrictNo. 5(490
banks)
53,966
2571,706
792,3951,858
1,346, 611
1, 351, 969
5,358
DistrictNo. 6(366
banks)
46,187
2,1864,999
3981,7461,011
1,165,008
1,200, 525
35,517
DistrictNo. 7(960
banks)
69,012
1,12823,230
4511,3999,296
3,226,917
3,196,063
30,854
DistrictNo. 8(474
. banks)
38,870
1,026843
1,7941,827
1, 016,350
1,137, 770
121,420
DistrictNo. 9(645
banks)
11,002
41,214
5368
1,474
1, 080, 738
1,085,277
4,539
DistrictNo. 10
(891banks)
37,091
67
5151,531
1, 510,383
1,517,930
7,547
DistrictNo. 11
(678banks)
18,209
284,525
4651,665
1,192,872
1,259,827
66,955
DistrictNo. 12
(493banks)
33,002
4,16728,974
1,1672,4132,422
3,163, 812
2,857,706
306,106
TotalUnitedStates(7,530
banks)
714,107
164,866392,623
18,64820,05583,460
27,425,224
29,007,649
1, 582,425
OCTOBER 4,1929
EESOURCES
Loans and discounts (including redis-counts) -
Overdrafts--. _United States Government securities
owned
DistrictNo. 1(369
banks)
1,252, 388427
188, 841
DistrictNo. 2(769
banks)
3,564, 0622,080
607,611
DistrictNo. 3(681
banks)
1,282,529237
166,108
DistrictNo. 4(702
banks)
1,146,382510
255,184
DistrictNo. 5(479
banks)
798, 654582
111, 735
DistrictNo. 6(365
banks)
684,1061,347
107.584
DistrictNo. 7(948
banks)
1,895,4141,673
253,467
DistrictNo. 8(469
banks)
564,7161,211
97,230
DistrictNo. 9(636
banks)
560,407625
134, 640
DistrictNo. 10
(881banks)
754,0351,425
180,645
DistrictNo. 11
(674banks)
693,8752,368
146, 563
DistrictNo. 12
(495banks)
1,742,4543,021
452, 311
TotalUnitedStates(7,468
banks)
14,939,02215,506
2,701,919
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Other bonds, stocks, securities, etc., owned.Customers'liability account of acceptances-Banking bouse, furniture and fixturesOther real estate owned __-Reserve with Federal reserve banksCash in vault_._ ___ _Due from banks __ ._.Outside checks and other cash itemsRedemption fund and due from United
States Treasurer .Acceptances of other banks and bills of
exchange or drafts sold with indorse-ment. . . . .-_
Securities borrowedOther resources _
Total.. 2,253,028LIABILITIES
Capital stock paid inSurplus fundUndivided profits—netReserves for dividends, contingencies, e t cReserves for interest, taxes, and other ex-
penses accrued and unpaid _National-bank notes outstandingDue to banks.. _Demand depositsTime deposits (including postal savings).-.United States depositsAgreements to repurchase United States
Government or other securities soldBills payable and rediscounts --Acceptances of other banks and bills of
exchange or drafts sold with indorse-ment
Acceptances executed for customersAcceptances executed by other banks for
account of reporting banks..Securities borrowedOther liabilities
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MemphisNashvilleCincinnatiCleveland
^ Columbus-> ToledoO IndianapolisJR Chicago .o PeoriaI Detroit
O3 Grand Rapids - -cp IVTilwankee1 Minneapolis
St Paul1 Cedar Rapids _
£g Des Moines _DubuqueSioux CityKansas City, Mo _-St. JosephSt. LouisLincolnOmaha.Kansas City, KansTopekaWichita __HelenaDenverPueblo _MuskogeeOklahoma CityTulsa __-SeattleSpokanePortlandLos AngelesOaklandSan FranciscoOgdenSalt Lake City.__
Total other reserve cities
Total all reserve cities
25
59
384
67,842
112125
331
140
105
206
59
18
101
1555
629
125
13, 583
66,497
636
6222,332
3,307
18,487
53,704
135
3,1824,297
848
3,760385
8,382492
458357
5,85516,1331,2452,076
9857
2,104230210996
1,0561,795
9522,9831,1002,3481,543
3,290
1,113
106, 381
117, 732
2632,8931,511
8492,452
1301,151
2208,041
4942,8122,7582,8121,4782,462
51,5462,2481,4805,6451,8694,818
93324
1,44331
2,21395
528145568
1,132200955
• 751,675
20592
126, 520
372, 583
5,77513,93033,25922,43018,8234,627
10,96924,4448,569
64,9598,510
45,39336,04132,196
7,7665,8871,1581,621
20, 5762,491
116,19.73,048
14,4731,4981,4993,2513,061
22,0382,5241,265
10,22120, 63827, 7768,480
14,11599,746
7,224165, 745
2,3458,800
1,833, 263
3,897,955
61192
19
5238
53340
1613
60134560332049585824386
76339
2404521799768
1,49812
20929975365
45345
20,122133
56,059128155
89, 508
89, 742
286864
1,4956,9091,116
201596
7,031132
28,9411,8143,4392,004
231760486506504808123
7,23222
125805182269
2,564
121696
1,439306
1,2121,348
60,134699
164, 723232375
389, 313
410, 370
5,23634,08916,15431, 58927,5093,513
40,02418.0669,624
57,84113,18191,66676,96521, 5002,312
12, 3733 507
11,49258,0686,599
74,1568,400
34,9453,7285,2069,3862,227
45,9021,3703,002
33, 71640, 54135,47311,67025,962
155, 25315, 090
221, 4443,5008,537
2,405,813
3, 642, 392
11, 75651, 99352,43961,81749,952
8,47456,09453,89120,117
159,98824,015
147,142118, 760
73, 32613,41121, 528
5,67116, 59182,42516,634
220,12614, 62357, 0087,5147,147
16, 5505,617
74,4254,9975,653
47, 25564,46867,90824,04744, 655
340,14023, 221
616,8726,225
19, 697
4,982,868
8,650,975
33304
1,792166892201
2,207852
591,085
323698933
9,644135106
3125922165
1,835126436214159382
5241129
289915391
95363704
71,356
6105
50, 572
98, 538
2,57511,8498,230
10,0608,3051,500
14,8309,1599,6237,9882,785
20,81626,91333,838
8507,0531,6187,126
23,4369,602
68,2774,468
16,6831,6544,7214,4341,250
18,0862,3091,717
11, 5185,886
15,1065,0049,757
28,1773,011
79,9121,6864,803
985, 511
1,475,022
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE NO. 62.—Loans and discounts of national banks, December 31, 1928—Continued