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ANNUAL REPORT OF THE

Comptroller of the Currency




DECEMBER 12, 1927

UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON
1928




TREASURY DEPARTMENT

Document No. 2991
Comptroller of the Currency

CONTENTS
Page

Submission of the report
1
Legislation
„
1
Nine months' operation of the act of February 25, 1927, commonly known
as the McFadden National Bank Act:
Statement relative to
1, 2
Branch banking:
Statement relative to
3
Domestic branches of national banks—
Table showing, by States, number and manner of acquisition of
branches, as of October 31, 1927
3-7
Table, by States, of branches authorized and in operation year
ended October 31, 1927
.
7-10
Investment securities:
Statement relative to
11
Regulations issued by comptroller further defining the term of, Series I 11
National banks in the trust field:
Statement relative to
12,13
Organization and liquidation of national banks, year ended October 31,
1927, and since establishment of the system
13-15
National-bank failures
15-19
Bank failures other than national.
19 *
National-bank circulation:
Statement relative to >
19, 20
United States Government securities held in trust by Treasurer June
30, 1927, to secure, etc
>_-_
20
Bond transactions relative to, year ended October 31, 1927
20, 21
Monthly statement of capital stock of national banks, national-bank
notes, and Federal reserve bank notes outstanding, bonds on deposit, etc
21,22
Redemption of national and Federal reserve bank circulation, year ended
June 30, 1927
22,23
Condition of national banks at date of each report called for during vear
ended October 31, 1927
I —_ 23,24
Condition of national banks October 10, 1927:
Comparison of principal items of resources and liabilities __. . - _ 24, 25
Principal items of resources and liabilities, by States
26, 27
National-bank liabilities on account of bills payable and rediscounts since
June 30, 1926
28
Loans and discounts of national banks June 30, 1927:
Statement relative to
„_-_
„.
29
Classification of, for the last three fiscal years__.
29
Classification of, by reserve cities and States
30-33
Comparative statement of, for the last three fiscal years, banks in
central reserve and other reserve cities, all reserve cities, and elsewhere..-„i
„._
34
Comparative changes in demand and* time deposits, loans and discounts,
United States Government and other bonds and securities, and the
amount of lawful reserve of national banks since June 30, 1923
34, 35
United States Government securities held by national banks in reserve
cities and States June 30, 1927:
Classification of
.
35-37
Investments of national banks:
Comparison of, June 30, 1926 and 1927
.
38
United States Government, domestic, and foreign bond, securities, etc.,
owned by national banks June 30, 1927:
Classification of, by reserve cities and States
. .,
39-43




HI

IV

CONTENTS

Savings depositors and deposits in national banks June 30, 1927:
page
Statement, by reserve cities and States, showing number of banks
reporting savings deposits, number of banks maintaining separate
savings departments, number of sayings depositors, amount of
savings deposits, and average rate of interest paid
44-46
Per capita individual and savings deposits in all reporting banks June 30,
1927:
Statement, by States, showing approximate population, individual
deposits, per capita individual deposits, savings deposits, and per
capita savings deposits
46, 47
Earnings, expenses, and dividends of national banks, year ended June 30,
1927:
Statement relative to
48
Comparison of, years ended June 30, 1926 and 1927
49
Abstract of—
By reserve cities and States
50--60
By Federal reserve districts
61, 62
National-bank investments in United States Government and other
bonds and securities, etc., loans and discounts, and losses charged off
on account of bonds and securities and loans and discounts, years ended
June 30, 1918 to 1927
63
Number of national banks, capital, surplus, net addition to profits, dividends, and percentage ratios, years ended June 30, 1914 to 1927__.»
63
National-bank examiners, list of, October 31, 1927
64-69
Convictions of national-bank officers and others for violations of the
national banking laws during the year ended October 31, 1927, list of _. 69-72
Federal reserve banks:
Assets and liabilities of the 12 Federal reserve banks combined, as of
the last weekly statement date in October, 1918 to 1927
73
Principal assets and liabilities of the 12 Federal reserve banks combined, on the last weekly statement date in each month, from
January, 1923, to October, 1927
74
Percentage of bills discounted secured by United States Government
obligations to total bills discounted and purchased by Federal reserve banks at the end of each month, year ended October 31, 1927_ _
75
Federal reserve bank discount rates in effect November 1, 1927, date
established, and previous rate with respect to all classes and maturities of eligible paper
75
Discount rates prevailing in Federal reserve bank and branch cities on
bulk of loans of each class made by about 200 representative banks
during week ending the 15th of the month, October, 1926, to October,
1927
75-77
Rates for money in New York:
Range of, monthly in the year ended October 31, 1927
_ 78, 79
Comparison of range of, annually from January, 1918, to October 31,
1927
80
New York clearing house:
Statement relative to transactions of, year ended September 30, 192781
Clearing-house associations in the 12 Federal reserve bank cities and elsewhere :
Statement relative to transactions of, year ended September 30,1927_ _
81
Banks, other than national, June 30, 1927:
List of officials of State banking departments and number of each
class of banks under their supervision from which reports of condition were received
;— 82, 83
State (commercial) banks, statement and summary relative to
84, 85
Loan and trust companies, statement and summary relative to
85-87
Principal items of resources and liabilities of loan and trust companies
in June of each year, 1914 to 1927
_._
87
Stock savings banks, statement and summary relative to.
88, 89
Mutual savings banks, statement and summary relative to
89, 90
Depositors and deposits in mutual and stock savings banks, by States,
June 30, 1926 and 1927
91-93
Number of sayings banks (mutual and stock), number of depositors,
amount of individual deposits, and average amount due each depositor in years ended June 30, 1914 to 1927
94



CONTENTS

7

Banks, other than national, June 30, 1927—Continued.
Page
Private banks, statement and summary relative to
94-96
All reporting banks other than national, statement and summary
relative to
96, 97
Resources and liabilities of each class of
98
Principal items of resources and liabilities of, on or about June 30,
1923 to 1927
98,99
Condition of national banks June 30, 1927:
Statement and summary relative to
99-101
Banks, all reporting, June 30, 1927;
Statement and summary relative to
101-103
Abstract of resources and liabilities of, by States
104-11U
Individual deposits in, classification of
112
Resources and liabilities of, years ended June 30, 1923 to 1927
113
Principal items of resources and liabilities of, in the continental
United States, as compared with similar data from reporting
member banks of the Federal reserve system, on or about June
30, 1927
„
113
Cash, classification of, held by
114
Resources and liabilities of all reporting banks June 30, each 5-year period,
1890-1925
_
_ 114-117
Money in the United States:
Stock of, June 30, 1927, statement relative to
~_ 118
Stock of, years ended June 30, 1914 to 1927
118
United States circulation statement, July 1, 1927
119
Imports and exports of merchandise, gold and silver, calendar years 1914
to 1926, and from January 1 to September 30, 1927
120
Banks in District of Columbia:
Number, capital, individual deposits, and aggregate resources of,
June 30, 1927
__.
121
Earnings, expenses, and dividends of, other than national, 6 months
ended December 31, 1926, and June 30, 1927; statement relative
to and comparison of, in years ended June 30, 1926 and 1927
121, 122
Building and loan associations in the District of Columbia:
Statement relative to, in the year ended June 30, 1927
122.123
Number of, loans, installments on shares, and aggregate resources,
years ended June 30, 1909 to 1927
123
Building and loan associations in the United States:
Statistics relating to, by States, in the fiscal year ended 1926
123,124
Mortgage loan investments held by, in 1925 and 1926, by States
125
Failures of, each year 1920 to 1926
125, 126
Monetary stocks in the principal countries of the world:
Statistics relating to, at the end of the calendar year 1926
126-130
Federal land banks, condition of, September 30, 1927
131, 132
Joint-stock land banks, condition of, September 30, 1927
132, 133
Federal intermediate credit banks, condition of, September 30, 1927
133, 134
National agricultural credit corporations
_ 134, 135
United States Postal Savings System:
Statistics relating to activities of, years ended June 30,1926 and 1927. 135-139
School savings banking:
Statistics relative to, in each State, in the school years 1925-26 and
1926-27
....
140,141
Savings banks in the principal countries of the world:
Statistics relative to, as of various dates
141-143
Resources of leading foreign banks of issue:
Statement relative to, on or about June 30, 1927
144
Expenses of the Currency Bureau:
Summary of, in the fiscal year ended June 30, 1927
144,145




VI

CONTENTS

APPENDIX
Pago

Digest of decisions relating to national banks

149

TABLES

No. 1. Comptrollers and Deputy Comptrollers of the Currency
No. 2. Names and compensation of officers and clerks in the office of the
Comptroller of the Currency, October 31, 1927
No. 3. Number of national banks organized since February 25, 1863;
number passed out of the system, and number in operation
October 31, 1927
No. 4. Authorized capital stock of national banks on the 1st day of each
month January 1, 1920, to November 1, 1927, bonds on deposit
to secure circulation, circulation secured by bonds, lawful
money on deposit to redeem circulation, and national-bank
notes'outstanding
No. 5. National banks reported in liquidation from November 1, 1926,
to October 31, 1927, names (where known) of succeeding banks
in cases of succession, with date of liquidation and capital
No. 6. Capital stock, surplus, undivided profits, and aggregate resources
of banks consolidated under act of November 7, 1918, as
amended February 25, 1927, for the year ended October 31,
1927, as shown by their last reports prior to consolidation
No. 7. National banks consolidated under act of November 7, 1918,
their capital, surplus, undivided profits, and aggregate assets,
year ended October 31, 1927
No. 8. State banks and national banks consolidated under act of February
25, 1927, giving their consolidated capital, surplus, undivided
profits, and aggregate assets, year ended October 31, 1927
No. 9. Number and capital of State banks converted into national banking associations in each State and Territory from 1863 to
October 31, 1927
..__
No. 10. Conversions of State banks and primary organizations as national
banks from March 14, 1900, to October 31, 1927
No. 11. Number of national banks increasing their capital, together with
the amount of increase monthly for j^ears ended October 31,
since 1922
1
1
No. 12. Number and authorized capital of national banks chartered and
the number and capital stock of banks closed in each year
ended October 31, since 1913, with the yearly increase or
decrease
No. 13. Number of national banks organized, consolidated under act of
November 7, 1918, insolvent, in voluntary liquidation, and in
operation on October 31, 1927
No. 14. Changes of corporate title of national banks, year ended October
31, 1927
No. 15. Changes of corporate title incident to consolidations of national
banks, and of State banks with national banks, year ended
October 31, 1927
No. 16. National banks chartered during the year ended October 31,1927No. 17. National banks chartered which are conversions of State banks
during the year ended October 31, 1927
No. 18. National banks, by States and geographical divisions, organized,
failed, and reported in voluntary liquidation during year ended
October 31, 1927
.
No. 19. Number and classification of national banks chartered monthly
during year ended October 31, 1927
No. 20. United States bonds on deposit to secure circulating notes of
national banks in years ended October 31, 1900 to 1927
No. 21. United States bonds (circulation)—Monthly range of prices in
New York, November 1926, to October, 1927
No. 22. National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 31, each year 1915 to
1927
No. 23. National-bank currency issued to banks monthly from November
1, 1926, to October 31, 1927, and since 1863
—



199
200
202

202
204
209
212
213
214
214
215
215
216
217
218
219
222
223
224
224
225
226
227

CONTENTS

VII
Page

No. 24. National-bank notes received monthly for redemption during
year ended October 31, 1927
No. 25. National-bank notes received at currency bureau and destroyed
yearly since establishment of the system
No. 26. National-bank notes issued and destroyed, etc., account of active,
insolvent, and liquidated banks, years ended October 31, 1914
to 1927
No. 27. Amount, denomination, and cost of national-bank currency received from Bureau of Engraving and Printing, year ended
October 31, 1927
No. 28. Vault account of currency received and issued by currency bureau
during the year and the amount on hand October 31, 1927__
No. 29. Vault account of currency received and destroyed during year
ended October 31, 1927
.
_-_
No. 30. Amount of currency received for redemption, by months, during
the year ended June 30, 1927, and counted into the cash of
the National Bank Redeniption Agency
No. 31. Amount of currency received by National Bank Redemption
Agency for redemption in year ended June 30, 1927, from
principal cities
No. 32. Cost of redemption of national bank notes during year ended June
30, 1927
No. 33. Classification of Federal reserve currency redemptions, the amount
redeemed, number of notes, cost of redemption per 1,000
notes, and amount assessed upon Federal reserve banks on
account of expenses, year ended June 30, 1927
No. 34. Taxes assessed on national-bank circulation, years ended June 30,
1864 to 1927; cost of redemption, 1874 to 1927; cost of plates,
etc., 1883 to 1927
No, 35. 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 3, 1926, to October 26, 1927
No. 36. Federal reserve notes printed, issued to banks, retired, and destroyed since organization of the banks, with the balance in
vaults and amount outstanding October 31, 1927
No. 37. Aggregate amount of Federal reserve bank notes printed, issued,
canceled, and redeemed, by denominations, since the inauguration of the Federal reserve system, and amount on hand and
outstanding October 31, 1927
No. 38. Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates for years ended June 30, 1915 to 1927-_
No. 39. National banks in charge of receivers year ended October 31, 1927,
capital and surplus at date of organization and at date of failure,
causes of failure, dividends paid while solvent, and circulation
outstanding, etc
„.
No. 40. National banks in charge of receivers year ended October 31, 1927,
dates of organization, appointment of receiver, and closing, with
amounts of nominal and additional assets, amounts collected
from all sources, loans paid, and losses on assets, etc..^
No. 41. National banks restored to solvency after having been placed in
charge of receivers
No. 42. Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November
1, 1927
No, 43. Dates of reports of condition of national banks from 1914 to 1927__
No. 44. Condition of foreign branches of National City Bank and Chase
National Bank, New York, N. Y., and First National Bank,
Boston, Mass., on June 30, 1927___
_,
No. 45. Number, capital stock paid in, circulation outstanding, and aggregate assets of national banks at date of each report from February 28, 1920, to October 10, 1927, money in the United States
etc
No. 46. Abstract of the resources and liabilities of national banks in New
York, in the two central reserve cities, in other reserve cities,
and elsewhere, at close of business October 10, 1927__



227
228
228
229
229
229
229
230
230
231
232
233
234
235
235
236
250
282
283
295
296
302
303

VIII

CONTENTS

No. 47. Classification of deposits of national banks in reserve cities and
States at date of each call during year ended October 10, 1927_ _
No. 48. Cash in vaults of national banks in reserve cities and States at
date of each call during year ended October 10, 1927
No. 49. Circulation of national banks in reserve cities and States at date
of each call during year ended October 10, 1927
No. 50. Gold and silver coin, certificates, legal tenders, and other currency
held by national banks at date of each report from January 13,
1914, to October 10, 1927
No. 51. Gold, etc., held by national banks in the city of New York at date
of each report from January 13, 1914, to October 10, 1927
No. 52. Reserve held by national banks at date of each report from September 11, 1917, to October 10, 1927
I_
No. 53. Reserve computation of national banks in reserve cities and
States at date of each call during year ended October 10, 1927_ _
No. 54. Aggregate resources and liabilities of national banks at date of each
report from February 28, 1920, to October 10, 1927
No. 55. Abstract of reports of condition of national banks in reserve cities
and States at date of each call since June 30, 1926
No. 56. Abstract of reports of condition of national banks in each Federal
reserve district at date of each call during year ended October
10, 1927
No. 57. Classification of loans, investments, and deposits of national
banks in June of each year from 1914 to 1927
No. 58. Principal items of resources and liabilities of national banks,
arranged alphabetically by counties in each State, March 23,
1927
No. 59. Principal items of resources and liabilities of national banks,
arranged alphabetically by counties in each State, by Federal
reserve districts, March 23, 1927
No. 60. Abstract of reports of earnings, expenses, and dividends of
national banks, in reserve cities and States, for the six months
ended December 31, 1926___
No. 61. Abstract of reports of earnings, expenses, and dividends of
national banks, by Federal reserve districts, for the six months
ended December 31, 1926
No. 62. Abstract of reports of earnings, expenses, and dividends of
national banks, in reserve cities and States, for the six months
ended June 30, 1927
No. 63. Abstract of reports of earnings, expenses, and dividends of
national banks, by Federal reserve districts, for the six months
ended June 30, 1927
No. 64. Abstract of reports of savings and State banks in the District of
Columbia at date of each report during year ended October 10,
1927
No. 65. Abstract of reports of loan and trust companies in the District of
Columbia at date of each report during year ended October 10,
1927
No. 66. Principal items of resources and liabilities of each savings and
State bank in the District of Columbia, October 10, 1927
No. 67. Principal items of resources and liabilities of each loan and trust
company in the District of Columbia, October 10, 1927
No. 68. Principal items of resources and liabilities of savings and State
banks in the District of Columbia on or about October 1, 1914
to 1927
No. 69. Principal items of resources and liabilities of loan and trust companies in the District of Columbia on or about October 1, 1914
to 1927
No. 70. Individual statements of resources and liabilities of the 22 building and loan associations in the District of Columbia, June 30,
1927
No. 71. Summary of resources and liabilities, receipts and disbursements of
building and loan associations in the District of Columbia for the
six-month period ended on or about December 31, 1926



Page

304
320
326
329
331
333
334
342
351
468
476
479
537
601
612
614
626
628
629
630
633
635
635
636
638

CONTENTS

IX
Page

No. 72. Summary of resources and liabilities, receipts and disbursements
of. building and loan associations in the District of Columbia
for the six-month period ended on or about June 30,-1927
No. 73. Abstract, bp States, of resources and liabilities of State (commercial) , savings and private banks, and loan and trust companies
on or about July 18, 1890
No. 74. Abstract, by States, of resources and liabilities of national banks
July 18, 1890
No. 75. Abstract, by States, of resources and liabilities of all reporting
banks on or about July 18, 1890
No. 76. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies
on or about July 11, 1895
No. 77. Abstract, by States, of resources and liabilities of national banks
July 11, 1895
No. 78. Abstract, by States, of resources and liabilities of all reporting
banks or on about July 11, 1895
No. 79. Abstract, by States, of resources and liabilities of State (commercial) , savings and private banks, and loan and trust companies
on or about June 29, 1900
No. 80. Abstract, by States, of resources and liabilities of national banks
June 29, 1900
No. 81. Abstract, by States, of resources and liabilities of all reporting
banks on or about June 29, 1900
No. 82. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about May 29, 1905
No. 83. Abstract, by States, of resources and liabilities of national banks
May 29, 1905
No. 84. Abstract, by States, of resources and liabilities of all reporting
banks on or about May 29, 1905
No. 85. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 30, 1910
No. 86. Abstract, by States, of resources and liabilities of national banks
June 30, 1910
No. 87. Abstract, by States, of resources and liabilities of all reporting
banks on or about June 30, 1910
No. 88. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 23, 1915
No. 89. Abstract, by States, of resources and liabilities of national banks
June23, 1915
No. 90. Abstract, by States, of resources and liabilities of all reporting
banks on or about June 23, 1915
No. 91. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 30, 1920
No. 92. Abstract, by States, of resources and liabilities of national banks
June 30, 1920
Isio. 93. Abstract, by States, of resources and liabilities of all reporting
banks on or about June 30, 1920
No, 94. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 30, 1925
No, 95. Abstract, by States, of resources and liabilities of national banks
June 30, 1925
No. 96. Abstract, by States, of resources and liabilities of all reporting
banks on or about June 30, 1925
No. 97. Abstract, by States, of resources and liabilities of State (commercial) banks June 30, 1927
No. 98. Abstract, by States, of resources and liabilities of loan and trust
companies June 30, 1927
No. 99. Abstract, by States, of resources and liabilities of stock savings
banks June 30, 1 9 2 7 _
.....



639
640
642
646
650
654
658
662
666
670
674
678
682
686
690
694
698
702
706
710
714
718
722
726
730
734
742
750

X

CONTENTS
Page

No. 100. Abstract, by States, of resources and liabilities of mutual savings
banks June 30, 1927
754
No. 101. Abstract, by States, of resources and liabilities of private banks
June 30, 1927
758
No. 102. Abstract, by States, of resources and liabilities of all reporting
banks other than national June 30, ,1927
i
762
No. 103. Abstract, by States, of resources and liabilities of national banks
June 30, 1927
770
No. 104. Aggregate resources and liabilities of State (commercial) banks
June, 1923 to 1927
778
No. 105. Aggregate resources and liabilities of loan and trust companies
June, 1923 to 1927—--.
778
No. 106. Aggregate resources and liabilities of stock savings banks June,
1923 to 1927
779
No. 107. Aggregate resources and liabilities of mutual savings banks June,
1923 to 1927
779
No. 108. Aggregate resources and liabilities of private banks June, 1923 to
1927
780
No. 109. Gold, silver, etc., held by banks other than national June, 1914 to
1927
780
No. 110. Chartered banks of Canada, condition of, September 30, 1927- _ 781
No. 111. Chartered banks of Canada, monthly statement showing principal
items of resources and liabilities, year ended September 30,
1927
781
No. 112. Comparative statement of the transactions of the New York
Clearing House in each year ended September 30, 1854 to
1927
782
No. 113. Comparative statement of the clearings, etc., of the New York
Clearing House, years ended September 30, 1927 and 1926___ 783
No. 114. Exchanges, balances, percentages of balances to exchanges, and
percentage of funds used in settlement of balances by the New
York Clearing House, years ended September 30, 1893 to
1927-__
783
No. 115. Comparative statement of the exchanges of the clearing houses
of the United States for years ended September 30, 1927 and
1926
784
No. 116. Comparative statement of transactions of clearing house associations in the 12 Federal reserve bank cities and in other cities
with transactions of $1,000,000,000 and over in years ended
September 30, 1927 and 1926
787
No. 117. Number and liabilities of State, private, and national banks which
failed in each State, six months ended December 31, 1926
788
No. 118. Number and liabilities of State, private, and national banks *
which failed in each State, six months ended June 30, 1927_ _ 790
No. 119. Number and liabilities of State, private, and national banks which
failed in each State, year ended June 30, 1927
792
No. 120. Number, assets, and liabilities of State (commercial), savings
banks, loan and trust companies, private and national banks
which failed in years ended June 30, 1914 to 1927
794
No. 121. Statements of resources and liabilities of the individual national
banks (States, Territories, and towns arranged alphabetically)
at close of business October 10, 1927. [Omitted from this report and published as a separate table.]




REPORT
OF THE

COMPTROLLER OF THE CURRENCY
TREASURY DEPARTMENT,
OFFICE OF THE COMPTROLLER OF THE CURRENCY,

Washington, December 12, 1927.
SIR: I have the honor to submit the following annual report, in
accordance with the provisions of section 333, of the United States
Revised Statutes, covering activities of the Currency Bureau, in the
year ended October 31, 1927. This is the sixty-fifth report made to
the Congress since the organization of the bureau.
LEGISLATION

I make no recommendation to the Congress for the enactment of
new legislation. But nine months have elapsed since the passage of
the act of February 25, 1927, which amended the national banking
laws. Too short a time has elapsed to allow banking to fully adjust
itself. I feel, therefore, that no further banking legislation is necessary at this time.
NINE MONTHS' OPERATION OF THE ACT OF FEBRUARY 2 5 , 1 9 2 7 , COMMONLY
KNOWN AS THE M ' F A D D E N NATIONAL BANK ACT, AMENDING THE
BANKING LAWS

This legislation had its origin in the specific recommendations made
to Congress by my predecessor, Mr. Henry M. Dawes, who assumed
office in the spring of 1923 and one of the first things to engage his
attention wTas the competitive status of the national banks with commercial banks operating under State charters. In the late summer
of 1923, the comptroller initiated a nation-wide investigation through
the chief national bank examiners in each Federal reserve district,
the aim of which was to gather and collate expert and technical recommendations for changes in the national banking laws. Each
chief national bank examiner was instructed to confer with the
leading bankers in his district and to make recommendations to the
comptroller for new legislation based upon the practical needs of the
national banks in the respective Federal reserve districts.
By the end of September, 1923, there was before the comptroller
a considerable number of recommendations from the field. In the
meantime he had called upon experts in the bureau at Washington
to make recommendations relative to the need for specific legislation
growing out of the administrative experience of the office for a decade
or more past.




2

REPORT OF THE COMPRTOLLER OF THE CURRENCY

While these technical investigations and researches were in progress
the comptroller conferred with a large number of bankers, both State
and National, and with Federal reserve officials, with a view of developing a policy upon the basis of which he might make recommendations
to Congress for new legislation.
With this mass of material before him, the comptroller induced
several bankers of wide banking experience to sit with him and his
counsel as a voluntary committee for the purpose of selecting from
the numerous recommendations for new legislation the particular
features which should form the basis of his recommendations to Congress. In the course of a month this committee had agreed upon
what was thought to be the essential needs of the national banks for
changes in their charter powers. The data thus selected was then
cast into the form of a draft of a bill.
This draft was next referred to each of the chief national bank
examiners in the 12 Federal reserve districts with instructions to
consult again with leading bankers and to make recommendations
for any changes. Members of the Banking and Currency Committees
were kept in touch with these proceedings. After numerous conferences on the draft during which every phase of the commercial,
industrial, and agricultural life of the country was taken under
consideration in their relationship to the national banking system,
the comptroller was able to lay before Congress his final recommendations. The bill was introduced by Chairman McFadden on
February 11, 1924 (H. K, 6855, 68th Cong., 1st sess.).
In the comptroller's report for 1924 there was laid before Congress
convincing evidence of the urgent need for the broadening of the
charter powers of the national banks, as provided by the bill, in order
to save the national banking system from ultimate extinction. That
report showed that the national banks were gradually declining in
relative strength, having during the*preceding six years lost more
than $2,230,000,000 to the State systems.
,
Subsequent developments during the three years the bill was before
Congress served only to emphasize the trend toward disintregration
in the national banking system. In my report to Congress for the
year 1926 I pointed out that during the three-year period ending
with September, 1926, 253 national banks entered the State systems,
taking with them aggregate resources of more than $1,000,000,000.
The aggregate resources of the national banks had dropped from
75 per cent of the total of commercial banking resources in the
United States in 1884 to about 46 per cent in 1926.
In this connection it was freely predicted by the supporters of
the so-called McFadden bank bill that its enactment by Congress
would bring new life to the system of national banks because under
the proposed act national banks would be able to perform every
phase of banking carried on by State banks and trust companies.
The McFadden Bank Act was approved by the President on February
25, 1927, and although it is too early to judge its full effect—the act
having been in operation for less than nine months—it has fully
justified itself, as the additions to the resources of the national banking system have more than offset the losses during the three-year
period prior to the enactment of the act.



KEPORT OF THE COMPTROLLER OF THE CURRENCY
BRANCH BANKING

The establishment of new state-wide branches within the Federal
reserve system was brought to an end by the act. Four of the leading
State branch banking institutions have become national banks and
are now operating under the restrictions upon branch banking which
the act provides. There was no rush to acquire city branches
following the authorization for their establishment by national banks,
as only 127 new branches have been established with the approval of
the Comptroller of the Currency under the act since February 25,1927.
Prior to the passage of the act there were in the system 165 branches
due to conversions and consolidations of State banks into national
banks; 202 additional offices which had previously been approved by
the Comptroller of the Currency under the authprity of the opinion of
the Attorney General of the United States were converted into branches
under the terms of the act; and 5 branches granted in the District of
Columbia under the authority of the Millspaugh Act. Since February 25, 1927, 400 new branches were added to the system through
consolidations and conversions of State banks. Since the State
banks had these 400 branches before their conversions or consolidations, their addition to the national system did not add to the total
of branch banks in the United States. The act, therefore, may be
said to have added to the number of branch banks in the United
States the number of new city branches established and approved
by the Comptroller of the Currency under the provisions of the act,
namely, 127, one of which was subsequently abandoned.
DOMESTIC BRANCHES OF NATIONAL BANKS

Table showing number and manner of acquisition of branches of national banks as
of October 81, 1927

Charter
No.

Title and location

Additional offices
that
became
branches
Feb. 25,
1927

Branches
by conTotal
Branches Branches version or number
author- consoliin operaized
of
tion on
dation
Feb. 25, under act of State branches
of Feb.
Oct. 31,
1927
banks
25, 1927 since Feb.
1927
25, 1927

CALIFORNIA
2491
3538
12454
12545
7G32
9502
12385
3050
9655
13044

Los Angeles-First National Trust & Savings
Bank, Los Angeles
Merchants National Trust and Savings
Bank of Los Angeles..
„
Pacific National Bank of Los Angeles
Seaboard National Bank of Los Angeles
United States National Bank of Los Angeles
Central National Bank of Oakland
Pasadena National Bank, Pasadena
First National Trust and Savings Bank of
San Diego ..
Bank of California, National Association,
San Francisco
Bank of Italy National Trust and Savings
Associations, San Francisco

1

1
3
8
1
6
1
1

99

4
3

101
34
8
1
6
1
1

31

11

4
4

1
' 277

288

DISTRICT OF COLUMBIA
2038
9545

i928

10504
4247
5046

Second National Bank of Washington*
District National Bank of Washington *
Farmers & Mechanics National Bank of
Washington l
Franklin National Bank of Washington *.
Lincoln National Bank of Washington *
Riggs National Bank of Washington

i
2
1
1

»Established
 under authority of the Millspaugh Act of Apr. 26,1922.


1
4

1
2
I
1
1
4

REPORT OF THE COMPTROLLER OF THE CURRENCY
Table showing nmnber and manner of acquisition of branches of national banks as
of October 31, 1927—Continued

Charter
No.

Title and location

5045
1559
13068

Additional offices
that
became
branches
Feb. 25,
1927

Fourth National Bank of Atlanta
Atlanta & Lowry National Bank, AtlantaCitizens <c Southern National Bank,
f

Branches
by conTotal
Branches Branches version or number
in opera- author- consoliized
of
tion on under act dation branches
Feb. 25, of Feb. of State Oct. 31,
1927
banks
25,1927 since Feb.
1927
25, 1927

GEORGIA

4
2
9

4
2
9

KENTUCKY

5312
4765

First National Bank of Louisville
Citizens Union National Bank of Louisville.
Louisville National Bank & Trust Co.,
Louisville
.
.
National Bank of Kentucky of Louisville..
Newport National Bank, Newport

10836

Calcasieu National Bank of Southwest

109
2164
5161

7
1

7
2

1

1

5
1
1

5
1

LOUISIANA

8

8
MAEYIAND
1384
2499
1337
1413

Citizens National Bank of Baltimore
Drovers & Mechanics National Bank of
Baltimore
- .- - —
Farmers & Merchants National Bank of
Baltimore . . ._
Merchants National Bank of Baltimore

1

1

1

1

2
2

2
2

MASSACHUSETTS
200
643
11903
12336
615
5155
2504
2153
6077
799
12405
308
2435
688
7595

First National Bank of Boston
Atlantic National Bank of Boston
Boston National Bank, Boston
„
Federal National Bank of Boston
National Rockland Bank of Boston
National Shawmut Bank of Boston
Brockton National Bank, Brockton
Safety Fund National Bank of Fitchburg..
Union National Bank of Lowell
Merchants National Bank of New BedfordSafe Deposit National Bank of New Bedford
Third National Bank & Trust Co. of Springfield
Chapin National Bank of Springfield
Waltham National Bank of WalthamWorcester County National Bank of
Worcester.
.
.
_

4
2
1
1
1
9
1
1

11
7
1
5
1
11
1
1
1
2
1

7
5
4
2
1

2
1

1
1

1
2

a
l

1
1

1

2

MICHIGAN
11852
10527
8703
10997
3293
12387
112S9
12288
1918

City National Bank of Battle Creek
First National Bank in Detroit
National Bank oi Commerce of Detroit
First National Bank at Flint
Grand Rapids National Bank, Grand
Rapids —
Merchants & Miners National Bank of
Ironwood
National Union Bank & Trust Co. of
Jackson
First National Bank in Pontiac.
Second National Bank of Saginaw

20
1
1

1
11

9
1

Pascagoula National Bank of Moss Point- _




1

1
1
1

MISSISSIPPI
8593

1
31
1
1

1

3
:

REPORT OF THE COMPTROLLER OF THE CURRENCY

5

Table showing number and manner of acquisition of branches of national banks as
of October 81, 1927—Continued

Charter
No.

Title and location

Branches
Additionby conBranches version or Total
al offices i Branches authorconsoli- number
that
in operaized
of
became tion on under act dation branches
branches Feb. 25, of Feb. of State Oct. 31,
banks
Feb. 25,
1927
25, 1927 since Feb.
1927
1927
25, 1927

N E W JERSEY

1209
12338
1436
11744
1444
374
12397
12255
11S2
9312
1316
12631
5215
12524
44-7
1327
9544
12064

First Camden National Bank & Trust
Company, Camden
First National Bank of East Orange....—.
National State Bank of Elizabeth
Peoples National Bank of Elizabeth
First National Bank of Hoboken
First National Bank of Jersey City
Franklin National Bank of Jersey City
Journal Square National Bank of Jersey
City.
Union Trust & Hudson County National
Bank, Jersey City
Broad & Market National Bank & Trust
Co. of Newark
_
National Newark & Essex Banking Co. of
Newark
South Side National Bank & Trust Co. of
Newark
First National Bank of Perth Ainboy
Perth Amboy National Bank, Perth
Amboy
First National Bank oi Plainfield
Mechanics National Bank of Trenton.
First National Bank of Union City
First National Bank of West New York....
NEW YOBK

National Commercial Bank & Trust Co. of
Albany. _
_
923 First National Bank of Brooklyn. __
11768 Community National Bank of Buffalo
12337 Genesee National Bank of Buffalo
9271 National Bank of Far Rockaway
9891 Flushing National Bank, Flushing
11747 American National Bank & Trust Co. of
Mount Vernon
,
1106 Highland-Quassaick National Bank &
Trust Co. of Newburgh
11844 Seventh National Bank of New York
1105 Bowery & East River National Bank of
New York
8926 Bronx National Bank of the City of New
York
12213 Capitol National Bank & Trust Co. of New
York
12874 Central National Bank of the City of New
York
2370 Chase National Bank of the City of New
York
10778 Chatham Phenix National Bank <c Trust
f
Co., New York..._
„
1499 Chemical National Bank of New York
12300 Hamilton National Bank of New York
1352 Hanover National Bank of the City of New
York
12550 Jamaica National Bank of New York
12352 Liberty National Bank in New York
733 National Bank of Commerce in New York.
1461 National City Bank of New York
891 National Park Bank of New York
12280 Ozone Park National Bank of New York..
11034 Public National Bank & Trust Co. of New
York.
12398 Queensboro National Bank of the City of
New York, post office, Corona, N. Y
11655 Richmond Hill National Bank of New York
12252 Rockaway Beach National Bank of New
York
.„-........„
* One was abandoned Sept. 29,1927.
1301




1 1
1 I.

i!

6

REPORT OF THE COMPTROLLER OF THE CURRENCY

Table showing number and manner of acquisition of branches of national banks as
of October 81, 1927— Continued

Charter
No.

Title and location

Additional offices
that
became
branches
Feb. 25,
1927

3 ranches
in operation on
Feb. 25,
1927

Branches
authorized
tinder act
of Feb.
25,1927

Branches
by conTotal
version or number
consoliof
dation branches
of State Oct. 31,
banks
1927
since Feb.
25, 1927

NEW YOEK—continued
12123
6198
12284
12538
1226
12122
721
1308
1490
653
9825

Seaboard National Bank of the City of New
York
Staten Island National Bank & Trust Co.
of New York
National Bank of Niagara & Trust Co. of
Niagara Falls
-- National Bank of Rochester
Mohawk National Bank of Schenectady
Liberty National Bank of Syracuse.
Manufacturers National Bank of Troy
Utica National Bank & Trust Co., U t i c a Jefferson County National Bank of Watertown
- ....
..
First National Bank of Yonkers
Yonkers National Bank & Trust Co.,
Yonkers

2

2
1

1
2
2
1

1
1
2

1

1
1

1

2
2
1
1
2
2
1
2
2

2

NORTH CAROLINA

10112
1766
12278
4292

American Exchange National Bank of
Greensboro
Citizens National Bank of Raleigh
Farmers National Bank & Trust Co. of
Peoples National Bank of Winston, post
office Winston-Salem

1
1

1
1

1
1
5
1

1

OHIO

32
11862
4318
7621

Second National Bank of Cincinnati
Brotherhood of Locomotive Engineers Cooperative National Bank of Cleveland
Central National Bank of Cleveland
City-National Bank of Commerce of Columbus

1

]

1
1

]
]

1

]

OREGON

9201

First National Bank of Milton

1

PENNSYLVANIA

247
2781
332
355
6654
51
i

3423
11539
723
542
11476
5459
3604
4192
12573
539
560
4887

First National Bank of Altoona
J—
Second National Bank of Altoona
First National Bank of Chester
Delaware County National Bank of Chester
Pennsylvania National Bank of Chester. _.
First National Bank of Johnstown
First National Bank of Philadelphia
Tenth National Bank of Philadelphia
Broad Street National Bank of Philadelphia
Central National Bank of Philadelphia
Corn Exchange National Bank of Philadelphia
__
Drovers and Merchants National Bank of
Philadelphia
Franklin Fourth Street National Bank of
Philadelphia
Manayunk National Bank of Philadelphia
Northern National Bank of Philadelphia..
Overbrook National Bank of Philadelphia
Philadelphia-Girard National Bank, Philadelphia . . .
Southwark National Bank, Philadelphia..
Reading National Bank, Reading

1
1
2
1
1
1
2
1
2
1

1302 I Providence National Bank, Providence. __

<

2

1
1
2
1
1
1
1
1
5

RHODE ISLAND




]

1

1

REPORT OF THE COMPTROLLER OF THE CURRENCY
Table showing number and manner of acquisition of branches of national banks as
of October 81, 1927—Continued
Additional offices
that
became
branches
Feb. 25,
1927

Charter
No.

Title and location

10708
1621
2044

Branches
by conTotal
Branches Branches version or number
in opera- author- consoliof
ized
tion on under act dation branches
Feb. 25, of Feb. of State Oct. 31,
banks
1927
1927
25, 1927 since Feb.
25, 1927

Atlantic National Bank of Charleston
Peoples-First National Bank of Charleston.
South Carolina National Bank of Charleston

SOUTH CAROLINA

2

1
2

5

5

1

1
1

1

TENNESSEE

First National Bank of Chattanooga
Unaka & City National Bank of Johnson
City
3837 City National Bank of Knoxville
150 Fourth & First National Bank of Nashville3032. American National Bank of Nashville
9774 Broadway National Bank of Nashville-....
1606
6236

1

1

3
2

9
1

VIRGINIA
5150
3917
10194
9885
1111
5229
6126

First National Bank of Abingdon..
Peoples National Bank of Leesburg
Seaboard National Bank of Norfolk
Virginia National Bank of Norfolk
First & Merchants National Bank of
Richmond
American National Bank of Richmond
Fauquier National Bank of Warrenton

1
2
4

1
1
1

1

1
1
1
1
2
5
1

1

WASHINGTON
11280

Dexter Horton National Bank of Seattle ,

2

WISCONSIN
12482

American National Bank of Milwaukee
Total (158 banks)

8

2
207

165

2
3 127

400

3 899

Includes one afterwards abandoned.

Table of branches authorized and in operation year ended October 81 s 1927
Charter
No.

Title and location

Los Angeles-First National Trust & Savings Bank, Los Angeles. With 101 branches, 46 of which
are located in Los Angeles and 55 located in California, as follows: Alhambra, 1; Altadena, 1;
Avalon, 1; Belvedere Gardens, 1 (post office, Los Angeles); Brawley, 1; Calipatria, 1; Carpinteria, 1; Coalinga, l;Dinuba, 1; El Centra, 1; Exeter, 1; Fillmore, 1; Fresno, 1; Fullerton, 1;
Glendale, 2; Guadalupe, 1; Hanford, 1; Huntington Park, 1; Inglewood, 2; Lemoore, 1;
Lennox, 1 (post office, Inglewood); Lindsay, 1; Lompoc, 1; Long Beach, 5; Moneta, 1; Montrose,
1; Ocean Park,l; Orcutt, 1; Oxnard, 1; Pasadena, 2; Pine Knot, 1; Porterville, 1; Redlands, 1;
San Fernando, 1; San Luis Obispo, 1; Santa Ana, 1; Santa Barbara, 1; Santa Maria, 1; Santa
Monica, 1; Santa Paula, 2; Saticoy,l; Strathmore, 1; Tulare, 1; Visalia, 1; Westmoreland, 1;
West Hollywood, 1 (post office, Hollywood); Whittier, 1.
3538 Merchants National Trust & Savings Bank of Los Angeles, with 31 branches, 24 of which are
located in Los Angeles and 7 located in California, as follows: Bell, 1; Glendale, 1; Huntington
Park, 1; Redlands, 1; Riverside, 1; San Bernardino, 1; Vernon, 1.
12454 Pacific National Bank of Los Angeles, with 8 branches in Los Angeles.
12545 Seaboard National Bank of Los Angeles, with 1 branch in Los Angeles.
7632 United States National Bank of Los Angeles, with 6 branches in Los Angeles.
9502 Central National Bank of Oakland, with 1 branch in Oakland.
12385 Pasadena National Bank, Pasadena, with 1 branch in Pasadena.
3050 First National Trust & Savings Bank of San Diego, with 4 branches, 3 of which are located in
San Diego and 1 at Coronado.
9655 Bank of California, National Association, San Francisco, with 4 branches, 1 of which is located in
San Francisco and 3 located as follows: Portland, Oreg., 1; Seattle, Wash., 1; Tacoma, Wash., 1.
2491

71284°—28
2



8

REPORT OF THE COMPTROLLER OF THE CURRENCY

Table of branches authorized and in operation year ended October 81, 1927—Contd.
Charter
No.
13044

Title and location
Bank of Italy National Trust & Savings Association, San Francisco, with 288 branches, 37 of
which are located in San Francisco and 251 located in California as follows: Alameda, 1; Alhambra, 1; Anaheim, 1; Anderson, 1; Angels Camp, 1; Arcadia, 2; Areata, 1; Atwater, 1; Bakersfield, 2; Benicia, 1; Berkeley, 1; Beverly Hills, 2; Brawley, 1; Burbank, 1; Burlmgame, 1;
Camarillo, 1; Centerville, 1; Chieo, 1; Chula Vista, 1; Colma, 1; Coinpton, 1; Concord, 1; Corning, 1; Coronado, 1; Crescent City, 1; Culver City, 1; Daly City, 1; Danville, 1; Dos Palos, 1;
El Centro, 2; Emeryville, 1; Escondido, 1; Eureka, 1; Fairfax, 1; Fillmore, 1; Firebaugh, 1;
Fort Bragg, 1; Fortuna, 1; Fresno, 3; Fullerton, 1; Gilroy, 1; Glendale, 2; Gridley, 1; Gustine1; Half Moon Bay, 1; Hanford, 1; Hayward, 1; Healdsburg, 1; Highland Park, 1; Hollister, 1;
Hollywood, 3; Huntington Park, 1; Kelseyville, 1; King City, 1; Knights Landing, 1; La Jolla,
1; Lakeport, 1; La Mesa, 1; Lancaster, 1; Lankershim, 1; Live Oak? 1; Livermore, 1; Lodi, 1;
Lornpoc, 1; Long Beach, 11; Los Angeles, 38; Los Banos, 1; Los Gatos, 1; Madera, 1; Manteca,
1; Martinez, 1; Marysville, 1; Mayfiold, 1; Mendocino, 1; Merced, 2; Mill Valley, 1; Modesto, 1;
Monrovia, 1; Monterey, 1; Morgan Hill, 1; Mountain View, 1; Napa, 1; National City, 1; Newhall, 1; Oakland, 14; Ocean Beach, 1; Ocean Park, 1; Ocean Side, 1; Ojai, 1; Ontario, 2; Orange,
1; Oroville, 1; Palmdale, 1; Palo Alto, 1; Pasadena, 2; Paso Robles, 1; Pescadero, 1; Petaluma, 1;
Piru, 1; Pittsburg, 1; Placentia, 1; Pleasonton, 1; Pomona, 1; Redding, 1; Redondo Beach, 1;
Redwood City, 1; Reedley, 1; Roseville, 2; Sacramento, 2; Salinas, 2; San Anselmo, 1; San
Bernardino, 1; San Bruno, 1; San Diego, 6; San Fernando, l; Sanger, 1; San Jose, 4; San Juan,
1; San Leandro, 1; San Luis Obispo, 1; San Mateo, 1; San Miguel, 1; San Pedro, 1; San
Rafael, 1; Santa Ana, 1; Santa Barbara, 2; Santa Clara, 1; Santa Cruz, 2; Santa Maria, 1; Santa
Monica, 1; Santa Paula, 1; Santa Rosa, 1; Sausalito, 1; Sawtelle, 1; Selma, 1; Shafter, 1;
Soledad, 1; Sonoma, 1; South San Francisco, 1; St. Helena, 1; Stockton, 3; Sunnyvale, 1; Taft,
1; Tipton, 1; Torrance, 1; Tracy, 1; Tulare, 1; Ukiah 1; Vacaville, 1; Vallejo, 1; Venice, 1;
Ventura, 1; Visalia, 1; Walnut Creek, 1; Wasco, 1; Watsonville, 2; Wheatland, 1; Willows, 1;
Wilmington, 1; Winters, 1; Woodland, 1; Yreka, 1; Yuba City, 1.
DISTRICT OF COLUMBIA

9545
1928
10504
4247
5046

Second National Bank of Washington, with 1 branch in Washington.
District National Bank of Washington, with 2 branches in Washington.
Farmers & Mechanics National Bank of Washington, with 1 branch in Washington.
Franklin National Bank of Washington, with 1 branch in Washington.
Lincoln National Bank of Washington, with 1 branch in Washington.
Riggs National Bank of Washington, with 4 branches in Washington.
GEORGIA

5045
1559
13068

Fourth National Bank of Atlanta, with 4 branches, 3 of which are located in Atlanta and 1 at
Decatur.
Atlanta & Lowry National Bank, Atlanta, with 2 branches in Atlanta.
Citizens & Southern National Bank, Savannah, with 9 branches, 1 of which is located in Savannah
and 8 located in Georgia as follows: Athens, 1; Atlanta, 4; Augusta, 1; Macon, 1; Valdosta, 1.
KENTUCKY

109
2164
5161
5312
4765

First National Bank of Louisville, with 7 branches in Louisville.
Citizens Union National Bank of Louisville, with 2 branches in Louisville.
Louisville National Bank & Trust Co., Louisville, with 5 branches in Louisville.
National Bank of Kentucky of Louisville, with 1 branch in Louisville.
Newport National Bank, Newport, with 1 branch in Newport.
LOUISIANA

10836

Calcasieu National Bank of Southwest Louisiana at Lake Charles, with 8 branches located in
Louisiana as follows: De Quincy, 1; Jennings, 1; Kidder, 1; Lake Arthur, 1; Oakdale, 1;
Sulphur, 1; Vinton, 1; Welsh, 1.
MARYLAND

1384

Citizens National Bank of Baltimore, with 1 branch in Baltimore.

2499
1337
1413

Drovers & Mechanics National Bank of Baltimore, with 1 branch in Baltimore.
Farmers & Merchants National Bank of Baltimore, with 2 branches in Baltimore.
Merchants National Bank of Baltimore, with 2 branches in Baltimore.
MASSACHUSETTS

First National Bank of Boston, with 11 branches in Boston.
Atlantic National Bank of Boston, with 7 branches in Boston.
Boston National Bank, Boston, with 1 branch in Boston.
Federal National Bank of Boston, with 5 branches in Boston.
National Rockland Bank of Boston, with 1 branch in Boston.
National Shawmut Bank of Boston, with 11 branches in Boston.
Brockton National Bank, Brockton, with 1 branch in Brockton.
Safety Fund National Bank of Fitchburg, with 1 branch in Fitchburg.
Union National Bank of Lowell, with 1 branch in Lowell.
Merchants National Bank of New Bedford, with 2 branches in New Bedford.
Safe Deposit National Bank of New Bedford, with 1 branch in New Bedford.
Third National Bank & Trust Co. of Springfield, with 1 branch in Springfield.
Chapin National Bank of Springfield, with 3 branches in Springfield.
Waltham National Bank of Waltham, with 1 branch in Waltham.
Worcester County National Bank of Worcester, with 2 branches, 1 of which is located in
Worcester and 1 at Fitchburg, Mass.


200
643
11903
12336
615
5U5
2504
2153
6077
799
12405
308
2435
688
7595

REPORT OF THE COMPTROLLER OF THE CURRENCY

9

Table of branches authorized and in operation year ended October 81, 1927— Contd.
Charter
No.

Title and location
MICHIGAN

11852

City National Bank of Battle Creek, with 1 branch in Battle Creek.

10527 First National Bank in Detroit, with 31 branches in Detroit.
8703 National Bank of Commerce of Detroit, with 1 branch in Detroit.
10997 First National Bank at Flint, with 1 branch in Flint.
3293 Grand Rapids National Bank, Grand Rapids, with 9 branches in Grand Rapids,
12387 I Merchants & Miners National Bank of Iron wood, with 1 branch in Iron wood.
11289 | National Union Bank and Trust Co. of Jackson, with 1 branch in Jackson.
12288 First National Bank in Pontiac, with 1 branch in Pontiae.
1918 Second National Bank of Saginaw, with 1 branch in Saginaw.
MISSISSIPPI

8593 I Paseagoula National Bank of Moss Point, with 1 branch bank at Pascagoula, Miss,
NEW JERSEY

1209
12338
1486
11744
1444
374
12397
12255
1182
9912
1318
12631
5215
12524
447
1327
9544
12064

First Camden National Bank and Trust Co., Camden, with 3 branches, 1 of which is located in
Camden and 2 in Philadelphia, Pa.
First National Bank of East Orange, with 1 branch in East Orange.
National State Bank of Elizabeth, with 1 branch in Elizabeth.
Peoples' National Bank of Elizabeth, with 1 branch in Elizabeth.
First National Bank of Hoboken, with 1 branch in Hoboken.
First National Bank of Jersey City, with 2 branches in Jersey City.
Franklin National Bank of Jersey City, with 1 branch in Jersey City.
Journal Square National Bank of Jersey City, with 1 branch in Jersey City.
Union Trust & Hudson County National Bank, Jersey City, with 2 branches, 1 of which is in
Jersey City and 1 at Bayonne, N. J.
Broad & Market National Bank & Trust Co. of Newark, with 2 branches in Newark.
National Newark • Essex Banking Co, of Newark, with 1 branch in Newark.
&
South Side National Bank & Trust Co. of Newark, with 2 branches in Newark.
First National Bank of Perth Amboy, with 1 branch in Perth Amboy.
Perth Amboy National Bank, Perth Arnboy, with 1 branch in Perth Amboy.
First National Bank of Plamfield, with 1 branch in Plainfield.
Mechanics National Bank of Trenton, with 4 branehes in Trenton.
First National Bank of Union City, with 1 branch in Union City.
First National Bank of West New York, with 1 branch in West New York,
NEW YORK

National Commercial Bank & Trust Co. of Albany, with 2 branches in Albany.
First National Bank of Brooklyn, with 1 branch in Brooklyn.
Community National Bank of Buffalo, with 7 branches in Buffalo.
Genesee National Bank of Buffalo, with 1 branch in Buffalo.
National Bank of Far Rockaway, with 1 branch in Far Rockaway.
Flushing National Bank, Flushing, with 1 branch in Flushing.
American National Bank & Trust Co. of Mount "Vernon, with 1 branch in Mount Vernon.
Highland-Quassaick National Bank & Trust Co. of Newburgh, with 1 branch in Newburgh.
Seventh National Bank of New York, with 2 branches in New York City.
Bowery & East River National Bank of New York, with 23 branches in New York City.
Bronx National Bank of the city of New York, with 2 branches in New York City.
Capitol National Bank & Trust Co. of New York, with 6 branches in New York City.
Central National Bank of the city of New York, with 1 branch in New York City.
Chase National Bank of the City of New York, with 20 branches in New York City.
Chatham Phenix National Bank & Trust Co., New York, with 13 branches in New York City
Chemical National Bank of New York, with 7 branches in New York City.
Hamilton National Bank of New York? with 4 branches in New York City.
Hanover National Bank of the City of New York, with 11 branches in New York City.
Jamaica National Bank of New York, with 1 branch in New York City.
Liberty National Bank in New York, with 2 branches in New York City.
National Bank of Commerce in New York, with 1 branch in New York City.
National City Bank of New York, with 24 branches in New York City.
York,
branches in New York City.
, National Park Bank of Newof New with 4 with 1 branch in New York City.
Ozone
York,
!Public Park National Bank
National Bank & Trust Co. of New York, with 29 branches in New York City.
Queensboro National Bank of the City of New York (oost office, Corona, N. Y.), with 1 branch
in New York City.
Richmond Hill National Bank of New Yofk, with 2 branches in. New York City,
Rockaway Beach National Bank of New York, with 1 branch in New York City,
Seaboard National Bank of the City of New York, with 2 branches in New York City.
Staten Island National Bank & Trust Co. of New York, with 1 branch in New York City.
National Bank of Niagara & Trust Co. of Niagara Falls, with 2 branches in Niagara Fails,
National Bank of Rochester, with 2 branehes in Rochester.
1226 Mohawk National Bank of Schenectady, with 1 branch in Schenectady.
12122 Liberty National Bank of Syracuse, with 1 branch in Syracuse.
721 Manufacturers National Bank of Troy, with 2 branches in Troy.
1303 Utica National Bank & Trust Co., Utica, with 2 branches in Utica.
1490 Jefferson County National Bank of Watortown, with I branch in Watertown.
653 First National Bank of Yonkers, with 2 brandies in Yonkers.
9325 Yonkers National Bank & Trust Co., Yonkers, with 2 branches in Yonkers.


1301
923
11768
12S37
9271
9691
11747
1106
11844
1105
8926
12213
12874
2370
10778
1499
12300
1352
12550
12352
733
1401
891
12280
11034
12398
11655
12252
12123
6198
12284
12538

10

REPORT OF THE COMPTROLLER OF THE CURRENCY

Table of branches authorized and in operation year ended October 31, 1927—Contd.
Charter
No.

Title and location
NORTH CAROLINA

10112
1766
12278
4292

American Exchange National Bank of Greensboro, with 1 branch in Greensboro.
Citizens National Bank of Raleigh, with 1 branch in Rajeigh.
Farmers National Bank & Trust Co. of Winston-Salem, with 2 branches in Winston-Salem.
Peoples National Bank of Winston (post office, Winston-Salem), with 1 branch in Winston-Salem,
N. C.

32
11862
4318
7621

Second National Bank of Cincinnati, with 1 branch in Cincinnati.
Brotherhood of Locomotive Engineers Co-operative National Bank of Cleveland, with 1 branch
in Cleveland.
Central National Bank of Cleveland, with 1 branch in Cleveland.
City-National Bank of Commerce of Columbus, with 1 branch in Columbus.

9201

First National Bank of Milton, with 1 branch at Freewater, Oreg.

OHIO

OREGON

PENNSYLVANIA
247
2781
332
355
6654
51
1
3423
11539
723
542
11476
5459
3604
4192
12573
539
560
4887

First National Bank of Altoona, with 1 branch in Altoona.
Second National Bank of Altoona, with 1 branch in Altoona.
First National Bank of Chester, with 2 branches in Chester.
Delaware County National Bank of Chester, with 1 branch in Chester.
Pennsylvania National Bank of Chester, with 1 branch in Chester.
First National Bank of Johnstown, with 1 branch in Johnstown.
First National Bank of Philadelphia, with 2 branches in Philadelphia.
Tenth National Bank of Philadelphia, with 1 branch in Philadelphia.
Broad Street National Bank of Philadelphia, with 2 branches in Philadelphia.
Central National Bank of Philadelphia, with 3 branches in Philadelphia.
Corn Exchange National Bank of Philadelphia, with 1 branch in Philadelphia.
Drovers and Merchants National Bank of Philadelphia, with 1 branch in Philadelphia.
Franklin Fourth Street National Bank of Philadelphia, with 2 branches in Philadelphia.
Manayunk National Bank of Philadelphia, with 1 branch in Philadelphia.
Northern National Bank of Philadelphia, with 1 branch in Philadelphia.
Overbrook National Bank of Philadelphia, with 1 branch in Philadelphia.
Philadelphia-Girard National Bank, Philadelphia, with 2 branches in Philadelphia.
Southwark National Bank, Philadelphia, with 1 branch in Philadelphia.
Reading National Bank, Reading, with 5 branches in Reading.
RHODE ISLAND

1302

Providence National Bank, Providence, with 1 branch in Providence.
SOUTH CAROLINA

10708
1621
2044

Atlantic National Bank of Charleston, with 1 branch in Charleston.
Peoples-First National Bank of Charleston, with 2 branches in Charleston.
South Carolina National Bank of Charleston, with 5 branches, 3 of which are located in Charleston and 2 located in South Carolina, as follows: Columbia, 1; Greenville, 1.
TENNESSEE

1606
6236
3837
150
3032
9774

First National Bank of Chattanooga, with 1 branch in Chattanooga.
Unaka & City National Bank of Johnson City, with 1 branch in Johnson City
City National Bank of Knoxville, with 1 branch in Knoxville.
Fourth & First National Bank of Nashville, with 12 branches in Nashville.
American National Bank of Nashville, with 2 branches in Nashville.
Broadway National Bank of Nashville, with 1 branch in Nashville.
VIRGINIA

5150
3917
10194
9885
1111
5229
6126

First National Bank of Abingdon, with 1 branch in Abingdon.
Peoples National Bank of Leesburg, with 1 branch at Upperville.
Seaboard National Bank of Norfolk, with 1 branch in Norfolk.
Virginia National Bank of Norfolk, with 1 branch in Norfolk.
First & Merchants National Bank of Richmond, with 2 branches in Richmond.
America National Bank of Richmond, with»5 branches in Richmond.
Fauquier National Bank of Warrenton, with 1 branch at The Plains.
WASHINGTON

112S0 Dexter Horton National Bank of Seattle, with 2 branches in Seattle.
WISCONSIN

12482 American National Bank of Milwaukee, with 2 branches in Milwaukee.




REPORT OF THE COMPTROLLER OF THE CURRENCY

11

INVESTMENT SECURITIES

The act imposed upon the Comptroller of the Currency the duty
of making regulations for the purpose of controlling the business of
buying and selling investment securities by national banks. The
act itself affirms the basic authority for national banks to enter this
field, but limited the operations to the purchase and sale, without
recourse, of marketable obligations in the form of bonds, notes, or
debentures, commonly known as investment securities under such
further definition of the term as may by regulation be made by the
Comptroller of the Currency.
The regulations were issued on June 30, 1927, in the following
language:
SERIES I
REGULATIONS FURTHER DEFINING THE TERM "INVESTMENT SECURITIES" AS
USED IN THE ACT APPROVED FEBRUARY 25, 1927

By virtue of the authority vested in the Comptroller of the Currency by the
terms of section 2 (b) of the act approved February 25, 1927, the following
regulations further denning the term "investment securities" are prescribed:
1. The business of buying and selling investment securities by national banks
is governed by section 5136 of the Revised Statutes of the United States as
amended by an act to further amend the national banking laws and the Federal
reserve act, and for other purposes, as approved February 25, 1927, as follows:
"(b) That section 5136 of the Revised Statutes of the United States, subsection iseventh' thereof, be further amended by adding at the end of the first
paragraph thereof the following:
"Provided, That the business of buying and selling investment securities shall
hereafter be limited to buying and selling without recourse marketable obligations evidencing indebtedness of any person, copartnership, association, or
corporation, in the form of bonds, notes and/or debentures, commonly known as
investment securities, under such further definition of the term l investment
securities5 as may by regulation be prescribed by the Comptroller of the Currency,
and the total amount of such investment securities of any one obligor or maker
held by such association shall at no time exceed 25 per centum of the amount of
the capital stock of such association actually paid in and unimpaired and 25 per
centum of its unimpaired surplus fund, but this limitation as to total amount
shall not apply to obligations of the United States, or general obligations of any
State or of any political subdivision thereof, or obligations issued under authority
of the Federal farm loan act:"
2. An obligation of indebtedness which may be bought and sold by national
banks, in order to come within the classification of "investment securities"
within the meaning of the proviso of section 5136 above quoted, must be a
marketable security as designated by the express language of said proviso.
Under ordinary circumstances, the term "marketable" means that the security
in question has such a market as to render sales at intrinsic values readily possible.
3. In classifying a given security as marketable the Comptroller of the Currency may in specific cases give consideration to various facts and circumstances,
but he will require in all cases the following:
(a) That the issue be of a sufficiently large total to make marketability possible.
(b) Such a public distribution of the securities must have been provided for
or made in a manner to protect or insure the marketability of the issue.
(c) That the trust agreement under which the security is issued provides for a
trustee independent of the obligor and, in the case of securities issued under a
trust agreement executed and delivered after 60 days from the date of the
promulgation of these regulations, such a trustee must be a bank or trust company.
4. This series of regulations may be modified, amended, or withdrawn at any
time by the Comptroller of the Currency.
Signed and promulgated this 30th day of June, 1927.




J. W. MCINTOSH,

Comptroller of the Currency.

12

REPORT OF THE COMPTROLLER OF THE CURRENCY

The effect of these regulations has been to exclude from the investment securities business of national banks all securities which do not
conform to the standard set up in the regulations. It is the design
of these regulations to carry out the intention of the act to limit the
investment securities business of national banks to liquid and readily
marketable obligations having a wider distribution than a purely
local or restricted market.
NATIONAL BANKS IN THE TRUST FIELD

The passage of the Federal reserve act empowered national banks to
broaden their financial service by acting in a fiduciary capacity.
The amendment to the act of 1918 extended the number of fiduciary
capacities in which they could act, and from that time on national
banks have entered the trust field in increasing numbers, approximately 30 per cent of their number now holding permits from the
Federal Reserve Board to do a trust business.
The Federal reserve act was made to rest chiefly upon national
banks and with a twofold purpose its authors determined to admit
this class of banks to the field of the fiduciary. They recognized the
justice of permitting national banks to engage in a work performed
by other corporations which have entered every branch of the banking
field. They saw, too, the advantages to the public of making available as trustees, executors, administrators, guardians of estates, and
in other fiduciary capacities the one unified banking system in the
United States highly standarized in its practice and regularly supervised by the Federal Government. They recognized in national
banks an agency through which trust facilities could be offered in
practically every community in the Nation.
How far the national banks have penetrated the trust field is
indicated by the fact that the assets of the individual trusts being
administered by these banks now amount to more than a billion
dollars, while corporate trusts amounting to more than two and a
half billion dollars are being handled. More than 26,000 individual
trusts were being administered by national banks during the past
year. The most impressive part of their progress is that the growth
has been recorded largely during the past few years. The number of
national banks obtaining the right to exercise trust powers is increasing at the rate of more than 200 banks a year.
The McFadden Act which became a law on February 25, 1927, gave
national banks, among other things, indeterminate charters and assured the institutions that their charters would not expire before the
trust functions undertaken were fulfilled. National banks now feel
safe in assuming the duties of trustees as well as accepting other
fiduciary obligations, no matter how long the period of service promises to be. This was a much needed change in the law and cleared
the way for full trust service by thousands of national banks.
Two hundred and four national banks were granted authority to
exercise trust powers between November 1, 1926, and October 31,
1927, 148 of these permits having been granted since the passage of
the McFadden Act, while 235 national banks holding fiduciary
permits started to administer trusts during the present year.
While nearly a third of all the national banks in the 48 States,
Alaska and Hawaii now hold permits to exercise fiduciary powers,



REPORT OF THE COMPTROLLER OF THE CURRENCY

13

several hundred have not yet become active in the work. On October
31, 1927, there were 865 national banks which had obtained permits
to act in a fiduciary capacity, but had not actually started to exercise
trust powers. However, during the year there were 643 national
banks which adopted resolutions providing for the organization and
operation of trust departments.
As the activities of trust departments have grown, so have the
earnings that the national banks have reported from this source.
Not only has the establishment of trust departments by national
banks furnished a service to their communities which was greatly
needed, but many banks-have found that the trust departments have
been the means of bringing new business to other departments of the
bank, and enabled the bank to retain balances upon the death of their
customers which would otherwise be diverted to a competing institution. For the year 1927 the earnings of trust departments aggregated $10,811,000. This represented an increase of $2,556,000 over
the preceding year and a gain of $4,860,000 over 1925.
While progress is being made in spreading intelligence as to what
trust departments can do, the declaration that a national bank, and
particularly one in the name of which the word "Trust" is not found,
is authorized or in a position to administer an estate or other form of
trust would be a revelation to perhaps a greater number of potential
clients of trust departments than are now served by national banks.
However, the number of national banks having authority to exercise
fiduciary powers availing themselves of the privilege to include the
words "trust company" in their titles is constantly increasing, more
than 100 national banks having already obtained permission from this
bureau to amend their titles in this respect, and the movement in
this direction is universal.
ORGANIZATION AND LIQUIDATION OF NATIONAL BANKS

There were 7,832 national banking associations in existence at the
close of the current year, October 31, 1927. This number was
less by 176, or 2.2 per cent, than the number in existence at the close
of the preceding year on October 31, 1926. In this connection it is
of importance to note that while the number of associations has
decreased, their capital and aggregate resources have increased as of
the date of the last call, October 10, 1927, compared with aggregate
resources on December 31, 1926, the nearest call to the date of my
last report, $1,529,975,000, or about 6 per cent, indicating a much
healthier and stronger condition in the system as a whole.
This bureau is subject at all times to the demand for charters for
new national banking associations. One of its most difficult problems
is to avoid a conflict between the interests of the applicants and the
needs of the community for additional banking facilities. There is a
strong tendency on the part of many of those interested in securing
charters for new banks to believe and to urge that because they or
their associates are willing to risk their personal funds in capitalizing
an institution a, charter should be granted. The chances of success
based on local banking and business conditions and the responsibility
of investing the money of potential depositors which would be attracted to them is given but scant consideration, An analysis of the
applications which this office has received for the establishment of



14

REPORT OF THE COMPTROLLER OF THE CURRENCY

new banks shows that there is too often a desire to organize banks in
localities where the communities are amply served and which would
not support new institutions with a likelihood of any fair measure of
success.
Extreme care should be exercised in granting charters, both for
National and State banks. This has been my policy with respect to
national bank charters. During the current year only 44 per cent
of the number of applications received for the establishment of new
national banks was approved, as compared with 52 per cent the previous like period and an average of 72.8 per cent over the eight
prior years, with a high of 82.7 per cent just subsequent to the World
War. In other words, despite the fact that the number of applications received remains about the same, the number approved by
this office is constantly becoming fewer and in the current year a less
number of applications was approved than has been approved any
year during the past 10-year period.
Up to and including October 31, 1927, there have been authorized
to begin business 13,136 national banking associations, of which 4,199
were voluntarily closed to discontinue business or amalgamate with
other banks, State or National, including those consolidated with other
national banking associations under authority of the act of November
7, 1918. Exclusive of banks which failed but were subsequently
restored to solvency, the loss to the system by banks liquidated
through receiverships was 1,105, the number of these receiverships
being a fraction less than S.8 per cent of the total number of banks
organized.
In November, 1914, there were in existence 7,578 national banks
with, capital of $1,072,492,175. Since that date the net increase in
the number of banks was 254 and an increase in capital of $430,205,440.
The capital of the banks in existence on October 31, 1927, was
$1,502,697,615. In this 13-year period 2,484 banks were chartered
with capital of $290,275,300. During this period, however, 2,100
associations were closed voluntarily or otherwise.
Applications to organize national banks and to convert State banks
into national banking associations were received in the current year
to the number of 290, with proposed capital stock of $66,420,000.
Of the applications pending 129 were approved with proposed capital
stock of $35,325,000, 138 rejected with proposed capital stock of
$25,225,000, and 59 abandoned with proposed capital stock of
$5,485,000. National banking associations to the number of 135,
with capital of $43,570,000, were authorized to begin business, of
which 3 were located in the New England States, 56 in the Eastern, 22
in the Southern, 23 in the Middle Western, 13 in the Western, and 18
in the Pacific States. The greatest activity as indicated by the
number of banks organized was in the following States: New York, 25
banks; New Jersey, 13; Pennsylvania, 18; Texas 11; Minnesota 12;
Iowa, 6; and California 14. In other States the number ranged from
1 to 3 banks. It further appears that of the total number of charters
issued, 30, with authorized capital of $28,310,000 and resources aggregating approximately $849,381,890, were the result of conversions of
State banks—8, with capital of $735,000, reorganizations of State or
national banks, and 97, with capital of $14,525,000, primary organizations. The conversions of State banks into national associations
brought into the system 298 branches.



REPORT OF THE COMPTROLLER OF THE CURRENCY

15

In the year in question 50 national banking associations were
consolidated into 25 under authority of the act of November 7, 1918,
the capital of the consolidated banks being $33,759,000. In some
instances there were reductions in capital and in others increases,
but the net result by reason of consolidations was a reduction in
capital stock of $407,000.
There have been 16 consolidations under the act of February 25,
1927, authorizing the consolidation of State banks with national
banks—the aggregate capital of the consolidating State banks being
$14,560;000. These banks also brought 105 branches into the
national system, and assets aggregating approximately $271,849,456.
The voluntary liquidation of 165 associations represented a capital
of $37,495,000, while the capital of the 135 insolvent banks was
$8,257,000. The net result of the changes hereinbefore mentioned
was a decrease for the year in the number of active banks by 176
and an increase in authorized capital stock of $80,565,210. It
appears that during the year 238 banks increased their capital in the
aggregate sum of $86,184,210. Of this number 73 banks effected the
increase by stock dividends, the amount of the increase in this
manner being $6,776,350.
Of the 165 banks reported in voluntary liquidation 66 with capital
of $9,325,000 were acquired by other national banks and 99 with
capital of $28,170,000 either entered the State banking system or
quit business.
NATIONAL BANK FAILURES

One hundred and thirty-five national banks, with an aggregate
capital of $8,257,000, were placed in charge of receivers during the
year ending October 31, 1927. While the number of failures was
larger by 44 than the number during the corresponding period covered
by my previous report, 111 failed between November 1, 1926, and
June 30, 1927, and but 24 failed from July 1, 1927, to November 1,
1927. The low number of failures in this last period of four months
together with reports of condition made to this office indicate that
the drift is toward a more normal condition in the number of failures.
The date that each bank was authorized to begin business, the date
of the appointment of its receiver, its capital stock, and its circulation outstanding at date of failure are shown in the appendix of
this report.
I believe that failures of many banks could have and can be
averted if the directors would give closer attention to the affairs of
the bank. I am constantly urging that directors exercise the duty
placed on them by law and which has been stated in many decisions
of the courts; a portion of one decision which I quote:
I will say to you, as a matter of law, that a board of directors when they have
selected officials, can not leave everything to them. They must do more than
select officials. Otherwise they would simply be a nominating committee. They
are required to select honest officials, and they are required further to use the
same degree of care and prudence that men prompted by self-interest generally
exercise in their own affairs. They are required to give direction to the general
affairs of the bank and its business policy and have a general knowledge of the
manner in which the business is conducted, the character of the investments,
and the employment of the resources.

A large number of failures occurring in the years 1924 to date have
been in some measure due to the too liberal policy of granting charters,



16

REPORT OF THE COMPTROLLER OF THE CURRENCY

especially during the inflation period immediately following the war.
As I have stated elsewhere in this report, an analysis of the applications which this office has received for the establishment of new
banks shows that there is too often a desire to organize banks in
localities where the community is amply served by present banking
facilities and which would not support new institutions with a likelihood of any fair measure of success.
From the date of the first failure of a national bank in the year
1865 to October 31, 1927, 1,173 national banks were placed in charge
of receivers. Of this number 68 were restored to solvency and permitted to resume business, leaving 1,105 to be administered by
receivers. Of these so administered, 467 are now in process of liquidation, being open receiverships administered by receivers under the
supervision of the office of the Comptroller of the Currency, and 638
have been entirely liquidated by receivers and the trusts closed.
The capital stock of the 1,173 insolvent national banks at the date of
failure was $132,960,420. The capital stock of the 68 national banks
that were restored to solvency was $12,020,000. The capital stock
of the 1,105 banks that continued in receiverships was $120,940,420.
The book or nominal value of the assets of the 1,105 administered
receiverships, including assets acquired after suspension, aggregated
$732,786,866. Total^collections by receivers to September 30, 1927,
from these assets, including offsets, amounted to $407,981,092,
TJiere was levied against shareholders of these banks stock assessments aggregating $81,764,440, and in addition to the amount
collected from assets, there was collected from these stock assessments
the sum of $38,193,221, giving a total collection of $446,174,313
collected from all sources, or 54.8 per cent of total assets and stock
assessments. This sum was disbursed as follows:
Dividends paid to creditors on claims proved, aggregating
$403,005,681
$228, 800, 568
Payments to secured and preferred creditors, including offsets
allowed and payments for the protection of assets
172, 026, 619
Payment of receivers' salaries, legal and other expenses
27, 795, 067
Cash returned to shareholders
4,160, 105
Cash balances with the comptroller and receivers
13, 391, 954

In addition to this record of distribution there was returned to
shareholders through their duly elected agents, assets of a nominal
value of $16,124,930.
The 467 national banks that were as of October 31, 1927, still in
charge of receivers and in process of liquidation, had assets, including
assets acquired subsequent to their failure, aggregating $293,655,868.
Receivers had collected from these assets, as shown by their last
quarterly reports under date of September 30, 1927, including
offsets, the sum of $142,618,070. The capital stock of these banks
was $30,824,500, and there had been levied by the Comptroller of the
Currency to October 31, 1927, stock assessments against the shareholders in the amount of $26,799,200. From such assessments there
had been collected up to and including September 30, 1927, $11,543,865, making collections from all sources in the liquidation of these
active receiverships a total of $154,161,935, or 48.9 per cent of such
assets and stock assessments, which amount has been distributed as
follows:



EEPORT OF THE COMPTROLLER OF THE CURRENCY

17

Dividends paid to creditors on claims proved, aggregating
$171,755,837
.
.
$55, 967, 305
Payments to secured and preferred creditors, including offsets
allowed and payments for the protection of assets
„_„ 75, 459, 894
Payment of receivers' salaries, legal and other expenses
8, 992, 782
Cash returned to shareholders
350, 000
Cash balance with the comptroller and receivers
13, 391, 954

During the year ending October 31, 1927, the liquidation of 46
receiverships was completed and the receiverships closed. These
added to the 660 receiverships previously liquidated give a total of
closed trusts of 706, in wln cn is included the 68 banks that were
restored to solvency, leaving 638 that were liquidated by receivers.
The total assets of these 638 receiverships including assets acquired
subsequent to suspension, aggregated $439,130,998. The total
assessment against shareholders levied by the comptroller aggregated $54,961,240. From the assets the receivers collected, including offsets, $265,363,022, and from stock assessments the receivers
collected $26,649,356, making of all collections a total of $292,012,378,
or 59.9 per cent of such assets and stock assessments, which sum
was distributed as follows:
Dividends paid to creditors on claims proved, aggregating
$231,249,844.
.
___.„
$172, 833, 263
Payments to secured and preferred creditors, including offsets
allowed, and payments for the protection of assets
96, 566, 725
Payment of receivers' salaries, legal, and other expenses
__. 18, 802. 285
Cash returned to shareholders_
__>__
_„..__
3, 810. 105

The average percentage of dividends paid on claims proved against
the 706 receiverships that have been filially closed was 74.74 per cent.
Had offsets, loans paid, and other disbursements been included in
this calculation the disbursements to creditors would show an average
of 80,95 per cent.
Expenses incident to the administration of these closed trusts such
as receivers' salaries, legal, and other expenses, amounted to
$18,802,285 or 4.28 per cent of the nominal value of the assets
administered, or 6.43 per cent of collections from assets and stock
assessments. The assessments against shareholders average 53.81
per cent of their holdings and the total collections from such assessments as were levied were 48.49 per cent of the amount assessed.
The outstanding circulation of these closed receiverships was
$33,670,103 secured by United States bonds on deposit with the
Treasury of the United States of the par value of $36,168,350.
The financial operations of the division of insolvent national banks
from September 30? 1926, to September 30, 1927, were as follows:
Receipts:
Cash on hand Sept. 30, 1926
Collections during the year, including offsets
Total

—

——
.
.

56, 661, 756

Disbursements:
Dividends paid
-:_„______
Secured and preferred claims paid
Expenses paid.- — .—
Returned to shareholders in cash
._„
Cash on hand Sept. 30, 1927
.
-

„____

20, 767, 826
19, 6605 903
2,829,999
11, 074
13, 391, 954

——

56, 661, 756

Total— — — — — —



—

. $13, 209, 261
43, 452, 495

——

—

18

KEPOBT OF THE COMPTROLLER OF THE CURRENCY
Closed
Active
receiverships, receiverships, Total, 1,173
7061
467

Items

Total assets taken charge of by receivers

$439,130,998

_ _ __

Total
Disposition of collections:
Dividends paid
Secured and preferred liabilities paid, including offsets
Keceivers' salary, legal and other expenses
Amount returned to shareholders in cash
...,
Balance with comptroller or receivers
Total

265,303,022
157, 643,04G
16,124,930
(2)

142, 618,070
30,045,445
120,992,353

407,981,092
187,688,491
16,124,930
120,992,353

293, 655,868

732,786,866

265,363,022
26,649,356

142, 618,070
11, 543,865

407,981,092
38,193,221

154,161, 935

446,174,313

172,833,263
96,566,725
18,802, 285
3,810,105

55,967,305
75,459, 894
8,992, 782
350, 000
13,391, 954

228,800,568
172,026,619
27,795,067
4,160,105
13,391,954

292,012,378

Collected from assets and offsets as above
Collected from stock assessment

$732,786,866

292,012, 378

Total

$293, 655,868

439,130,998

Disposition of assets:
Collected from assets and offsets allowed
Loss on assets compounded or sold under order of court. „
Nominal value of assets returned to ihareholders
Nominal value of remaining assets

154,161, 935

446,174,313

30,824, 500
17, 593,210

132,960,420
53,677,560

11, 342, 260
15, 953,360
26, 799,200
171,755, 837

47,426,610
49, 623,463
81,760,440
403,005, 681

3 102,135, 920
Capital stock at date of failure . .
United States bonds held at failure to secure circulating n o t e s 36,084,350
United States bonds held to secure circulation sold and circulation redeemed—
36,084, 350
33, 670,103
Circulation outstanding at failure
54, 961, 240
Amount of assessment upon shareholders
231, 249,844
Claims proved
1
2
8

Includes 68 banks restored to solvency.
Accounted for in final settlement with creditors or charged off as loss by order of court.
Includes capital stock of 68 banks restored to solvency.

Statistics relative to the capital, date of appointment of receiver,
and per cent of dividends paid to creditors of 46 insolvent national
banks, the. affairs of which were closed during the year ended October
31, 1927, appear in the following table:
Title

United States National Bank
First National Bank
Do
Farmers National Bank__
First National Bank
Do
Edwards National Bank
First National Bank
Do .
Do_ . . _
Do._
Do
Springfield National Bank__
First National Bank
Do
Do
Do
Do.
Do
Do
Do_.
.
Citizens National Bank
First National Bank
Do
Miners National Bank
_
First National Bank
Do
Do_
First National Bank in-—




Location

Date receiver
appointed

Vale, Oreg
Nov. 15,1921
Pensacola, Fla
-- Jan. 22,1914
Towner, N. Dak
._ Dec. 28,1920
Jan. 28,1921
Cooper, Tex
Sept. 16,1921
Joplin, Mont
Nov. 30,1921
Burley, Idaho
Dec. 12,1921
Booker, Tex
_- Jan. 5,1922
._ Wendell, Idaho
Nov. 22,1922
Colusa, Calif
Jan. 18,1923
Magdalena, N. Mex
Feb. 7,1923
.-_ Rupert, Idaho
Apr. 2,1923
Clifton, Ariz
Apr. 5,1923
Springfield, Ohio
June 1,1923
Nampa, Idaho
Big Sandv, Mont
_ July 17,1923
July 12,1923
Willow City, N. Dak
May 31,1923
Henrvetta, Okla
Oct. 8,1923
Lovington, N. Mex
Nov. 9,1923
Carter, Mont
Nov. 10,1923
Hemingford, Nebr
Nov. 21,1923
Tolley, N. Dak
Nov. 21,1923
Crosby, N. Dak__
Manville, Wyo
- Dec. 11,1923
Dec. 17,1923
Lansford, N. Dak
- Dec. 21,1923
_.. Henryetta, Okla
Dodson, Mont
_. Jan. 21,1924
Lusk, Wyo
_ _ _ _ _ Feb. 7,1924
Feb. 20,1924
Clovis, N. Mex
Mar. 4,1924
Deming, N. Mex

Per cent
Capital dividends
paid to
creditors
$75, 000
500, ooa
25, 000 50, 000
25, 000
30, 000 •
25, 000 .
25, 000 •
150, 000
50, 000
25,000,
100, 000
100, 000
200, 000
25, 000
25, 000'
50, 000
30, 000 •
25, 000.
25,000
25, 000
25, 000
25, 000
25, 000
50,000
25, 000
25,000
100,000
40,000

7.25
78.35
24.9
11.75
5.95
37.62
22
50.75
8.9
10.6
15
63.13
11
9
10
30.94
19.25
36.5
59.85
17.3
57.1
59
62.2
- 31.1
3.6
66
29
17.2

19

REPOKT OF THE COMPTROLLER OF THE CURRENCY
Date receiver
appointed

Location

Title

First National Bank
City National Bank
First National Bank
Do
First National Bank in
First National Bank
Do
Do
Corona National Bank___
First National B a n k . . . .
Do
Do
Standard National Bank
First National Bank
Warren National Bank
Stockmens National Bank
First National Bank

.
-

Bristow, Nebr_
El Paso, Tex__
Poteau, Okla
Minnesota Lake, Minn
Clovis, N. Mex
Groom, Tex
-.- Shellev, I d a h o . .
Dell Rapids, S. Dak
Corona, Calif_
Hardin, Mont
Malta, Mont
Steele, N . Dak
Washington, D. C
Granger, Tex _
Franklin, Ohio...
Nampa, Idaho
Hawarden, Iowa

.._
_
_
_

Per cent
Capital dividends
paid to
creditors

Mar.
May
June
Aug.
Sept
Oct.
Feb.
Sept.
Nov.
Nov.
Dec.
Nov.
Nov.
Jan.
Mar.
Mav
Sept.

$40, 000
500, 000
25,000
25,000
50,000
25,000
25,000
60,000
25,000
65,000
60, 000
25, 000
200,000
35,000
25,000
75, 000
50,000

24.1924
8,1924
19,1924
6,1924
4,1924
6,1924
13,1925
27,1925
10,1925
27,1925
28,1925
23,1926
23,1926
12,1927
11,1925
27,1927
15,1927

45.75
48
18.6
86
55
i 112.1
79
25
100
3.5
100
1

100
102.93
100
100

* Principal and interest paid in full.
2 Receiver appointed to complete unfinished liquidation.

BANK FAILURES OTHER THAN NATIONAL

Information received from the banking departments of the several
States shows that during the fiscal year ended June 30, 1927, there
were 689 failures of State and private banks, with total liabilities of
$206,655,000, as compared with 496 failures of this class of banks
the year previous, with liabilities aggregating $147,823,000.
Tables showing the number of failures and liabilities of banks
other than national and national banks in each State, for the sixmonth periods ended December 31, 1926, and June 30, 1927, together
with similar figures for the year ended June 30, 1927, are published
in the appendix of this report. The appendix also includes a table
showing the number and liabilities of State and national bank failures
as of June 30, each year, 1914 to 1927, inclusive.
NATIONAL BANK CIRCULATION

Notwithstanding a reduction in excess of $1,000,000,000 was
effected during the year in the interest-bearing debt of the United
States, the amount of bonds eligible as security for national bank circulation on June 30, 1927, was the same as at the close of the prior
fiscal year, namely, $674,625,630, and is the limit of the volume of
national bank circulation issuable. The eligible bonds consist of
$599,724,050 consols of 1930: $48,954,180 Panama Canal 2's of
1916-1938, and $25,947,400 Panama 2's of 1918-1938. # Of these
bonds the Treasurer, on June 30 last, held as security for national bank
circulation $666,991,130; as security for public deposits, $390,500,
and for postal savings $186,200. This leaves only $7,057,800 bonds
of these classes held otherwise than by the Treasurer as security for
circulation and deposits.
The national bank circulation outstanding at the close of the fiscal
year aggregated $704,146,267, of which $661,288, 545 was secured by
bonds, and the remainder, $42,857,722, was secured by lawful money




20

REPORT OF THE COMPTROLLER OF THE CURRENCY

held by the Treasurer of the United States to provide for the redemption of the notes of banks retiring their circulation and on account of
associations in liquidation.
The stock of money in the country on July 1, 1927, aggregated
$8,531,991,679, and# showed an increase of $158,331,450 over the
revised figures furnished as of July 1 the year previous. Of the
current stock gold coin and bullion amounted to $4,565,070,147, or 53
per cent; silver dollars and subsidiary silver $833,766,816, or 10 per
cent, and United States notes, Federal reserve issues and national
bank circulation, $3,133,154,716, or nearly 37 per cent. Of the latter
amount $2,077,473,195 represented Federal reserve notes and comprise more than 24 per cent of the total circulating medium, while
4 per cent were United States notes and 8 per cent national bank
circulation.
The paid-in capital of the national banks in existence was $1,480,202,199, and as the amount of bonds eligible as security for national
bank circulation is $674,625,630 it will be observed that the circulation issuable by national banks is but 45 J^ P e r cent of the maximum
amount authorized by law, namely, the paid-in capital stock.
In the table following, disclosing the total of Government securities
held by the Treasurer of the United States on June 30, 1927, is shown
separately the amount of bonds held eligible for national bank circulation :
United States Government securities held in trust by Treasurer of the United States,
June 30, 1927
To secure national-bank
circulation

Issues

Consols, 1930 .
Panama 2's

Total...

To secure
postal-savings
funds

Total held

$592, 624, 550
74,366, 580

_

Total
Other bonds, notes, and certificates

To secure
public
deposits

_„___

$342,500
48,000

$153,200
33,000

$593,120, 250
74, 447, 580

666, 991,130

390,500
46,351,000

186,200
165, 299,422

667, 567,830
211, 650,422

666, 991,130

46, 741, 500

165,485, 622

879, 218, 252

In the year ended October 31, 1927, the withdrawal of bonds held
by the Treasurer of the United States in trust as security for nationalbank circulation amounted to $40,571,100. The withdrawals by
reason of liquidation of banks amounted to $28,140,550, and on
account of banks placed in charge of receivers $3,032,550. Bonds
held by the Treasurer in trust as security for circulation were augmented to the extent of $41,951,510 on account of deposits made by
newly organized banks and by those increasing their circulation.
The transactions of the year by months in each account named are
shown in the following statement:




EEPOET OF THE COMPTROLLER OF THE CURRENCY

21

U?vi(ed States bonds deposited as security for circulation by banks chartered and by
those increasing their circulation, together with the amount withdrawn by banks
reducing their circulation, and by those closed, during each month, year ended
October 81, 1927

Date

November
December..

1926
„_.,.___„_.

January
February. _
March...
April
-_
May
_
June-.... —
July...
August.
..__
September.October.
Total

1927

„

,

Bonds
deposited
by banks
chartered
and those
increasing
circulation
during the
year

Bonds
withdrawn
by banks
reducing
circulation

$812, 500
185,000

5,377,000
3,957, 250
3", 358, 900
3,2S3,100
7, 598, 050
2,241, 700
5, 557, 010
1,932,000
3,731, 000
1,822.000

$371,200
950,000

1,060, 500
411, 200
458,000
1,022,000
2,028, 750
696, 250
556,300
383,000
350,000
1,434, 500

6,024,000
1,340,000
3,397, 550
1,892, 700
3, 353, 550
975,000
4, 602, 550
1, 555,000
3, 229,000
450,000

9,398,000

$2,006, 500
1,087,000

141,951,510

Bonds
withdrawn
by banks in
insolvency

Bonds
withdrawn
by banks in
liauidation

28,140, 550 \

$37, 500
18,740

571,350
285,460
845, 000
675,000
233,000
6, 500
310,000
50,000
3,032, 5.50

* Includes $7,100,050 deposited by 2-1 of the 135 banks chartered during the year,

Monthly statement of capital stock of national banks, national-bank notes, and
Federal reserve bank notes outstanding, bonds on deposit, etc.
Nov. 1, 1927
$1, 502, 697, 615
1, 502, 265, 671

$1,500,437,615
1, 499, 839, 856

$1,422,132,405
1,420, 725, 940

Increase or
decrease since
above date

Authorized capital stock of national banks..
Paid-in capital stock of national banks

Oct. 1, 1927

Increase or
decrease since
above date

Increase of authorized capital stock..
Decrease of authorized capital stock.
Increase of paid-in capital s t o c k . . . . .
Decrease of paid-in capital stock

$2, 260,000 !

Total national bank notes outstanding..

$30, 565,219

2,425,815

Nov. 1, 1927
National bank notes outstanding secured by United
States bonds..,._____
___._!
National bank notes outstanding secured by lawful |
money
_____
_—____„!

81,539, 731

Oct. 1, 1927

Net increase..
Net decrease .




Nov. 1, 1926

$663,187,030

$662,742,593

$661, 742,830

39,825,664

40,537,019

38,971,702

702,992,694

703,279,612

700,714,532

Increase or
decrease since
above date
Increase secured by United States bonds..
Decrease secured by United States bonds.
Increase secured by lawful money
_.._
Decrease secured by lawful money

Nov. 1, 1928

$424,437
711,355 I
280,918

Increase or
decrease since
above date
$1,424,200
853, 962
2, 278,162

22

REPORT OF THE COMPTROLLER OF THE

Monthly statement of capital stock of national banks; national-bank notes, and
Federal reserve bank notes outstanding^ bonds on dhpo^i, sfc.v-Continued
Nov. 1,1927
Federal reserve bank notes outstanding secured by
United States bonds
Federal reserve bank notes outstanding secured by lawful money

Oct. 1, 1927

$4, 539,138

$4,638,468

4, 539,138

Total Federal reserve bank notes outstanding

4, 638,468
Increase or
decrease since
above date

Increase secured by United States bonds..
Decrease secured by United States bonds.
Increase secured by lawful money
Decrease secured by lawful money

Increase or
decrease since
above date

$743,520

99,330

On deposit On deposit
to secure
to secure
Kinds of bonds on deposit Federal re- nationalserve bank bank notes
notes

Total.

5, 282,658

$99,330

Net increase
Net decrease

United States consols of
1930 (2 per cent)
United States Panama of
193G (2 per cent)
United States Panama of
1938 (2 per cent)

v ; ^ J926

743,520

National-bank notes of each denomination outstanding

One dollar
Two dollars
Five dollars
48, 567, 520 Ten dollars
Twenty dollars
25, 723, 320 Fifty dollars
_
One hundred dollars
$666,873,290 Five hundred dollars
One thousand dollars
Fractional parts
$592,582.450

$341,447
162,894
145, 705, 320
286, 720, 410
225, 522, 970
24, 902, 850
23,490, 200
87, 500
21,000
61,153

Total

707,015, 744
4,023,050

Total

702,992, 694

Less i

1

Notes redeemed but not assorted by denominations.
R E D E M P T I O N OF N A T I O N A L A N D FEDERAL RESERVE B A N K C I R C U L A T I O N

During the year ended June 30, 1927, national-bank notes, Federal
reserve notes, and Federal reserve bank notes aggregating $1,891,880,562.50 were redeemed in the United States Treasury, at a total
expense of $526,093.93.
These redemptions included Federal reserve notes amounting to
$1,388,590,705; Federal reserve bank notes received from all sources,
including Federal reserve banks and branches, $858,910, and nationalbank notes in the sum of $502,430,947,50, the latter amount including
$27,203,100 redeemed on retirement account.
The national-bank notes were redeemed at an average cost of
$0.93 per $1,000; Federal reserve notes received from sources other
than the Federal reserve banks, $0.76 per 1,000 notes; canceled and
other Federal reserve notes received direct from Federal reserve




23

4EPOET OF THE COMPTROLLER OF THE CURRENCY

banks and%ranch#sy S0.36 per 1,000 notes redeemed and redemption
on accoimVof #e&&ral reserve bank notes at the rate of $5.45 per
1,000 notes.
Statements showing the amount of national-bank notes, Federal
•ve notes, and Federal reserve bank notes received monthly
K
odemption in the year ended June 30, 1927, the source from
wi
received, and the classification of redemptions, together with
tliv jLc*te per $1,000 of national-bank notes redeemed and the rate
per 1,000 notes of Federal reserve and Federal reserve bank notes
redeemed are published in the appendix of this report.
CONDITION OF NATIONAL BANKS AT DATE OF EACH REPORT CALLED FOR
DURING THE YEAR

Under authority of section 5211, Revised Statutes, national banks
were called upon to submit four reports of condition during the year
ended October 31, 1927, as of various dates specified by the comptroller.
Summaries of resources and liabilities of reporting banks on the
date of each report during the year, together with summary for June
30, 1926, are shown in the following statement:
Abstract of reports of condition of national banks on dates indicated
[In thousands of dollars]
M a r . 23,
Oct. 10,
Dec. 31,
J u n e 30,
J u n e 30,
1926—7,978 1926—7,912 1927—7,828 1927—7,796 1927—7,804
banks
banks
banks
banks
banks
EESOUECES

Loans and discounts (including rediscounts)1
.
.
13,417,674
^erdrafts
9,719
\j_iited States Government securities
ned
_
2,469, 268
d
..her bonds, stocks, securities, etc., owned. 3, 372, 985
Customers' liability account of acceptances232.460
Banking house, furniture and fixtures
632^ 842
Other real estate owned.
_„_
115,869
Lawful reserve with Federal reserve banks. 1,381,171
Items with Federal reserve banks in process of collection
„__
._
501,409
359,951
Cash in vault
.
1,080,617
Amount due from national banks—
Amount due from other banks, bankers,
400,822
and trust companies.
899,901
Exchanges for clearing house
97,179
Checks on other banks in the same place._>
69,316
Outside checks and other cash items
Redemption fund and due from United
33,023
States Treasurer
v United States Government securities borrowed
24,442
, ©onds and securities, other than United
3,173
States, borrowed
„
Other assets
213,803

13,573,275
9,332

13,647,640
12,662

13,955,696

14,366,926
14,503

2,282, 571
3, 507,821
255,464
644,880
114,108
1,359,386

2,652,367
3,671.313
246,250
663,959
117, 571
1,400,317

2, 596,178
3, 797,040
253,131
080, 218
115, 817
1,406, 052

2,675,542
3,941,438
283,589
698, 516
122,161
1,413,792

543, 268
352, 709
1,124,188

443,145
373, 905
h 026, 760

496, 916
364, 204
1,044,653

502,036
375, 251
1,125,872

423, 766
969,432
117, 264

393,174
626,687
74,304
47,126

426,381
947,946
101, 574
89,480

459,842
790,496
86,479

32,505

32,917

33,079

17,721

14,780

72,928
32,810

4,64p
247,830

3,826
242,405

2,948
219, 742

25,315,624 | 25,683,849

Total..

23,787
3,299
273,561

25,699,147

26, 581,943

27,213,824

1,410, 723
1, 216,979

1,460,491
1, 239, 810

1,474,173
1,256,945

1,499,384
1,273,029

477,217
61,308
646,449
38,179

519, 670
70,409
642,558
35,281

508,421
70,326
650,946
36,379

571,482
78,521
649,886
36,107

LIABILITIES
1,412,872
Capital stock paid in
Surplus fund
Undivided profits, less expenses and taxes
477, 587
paid
_
__
64,618
Eeserved for taxes, interest, etc., accrued. _.
651,155
National banks notes outstanding. _„
33,794
Due to Federal reserve banks
2 Includes customers' liability under letters of credit

71284°—28




3

24

REPORT OF THE COMPTROLLER OF THE CURRENCY

Abstract of reports of condition of national banks on dates indicated—Continued
[In thousands of dollars}
June 30,
Dec. 31,
Mar. 23,
June 30,
Oct. 10f
1926—7,973 1926—7,912 1927—7,828 1927—7,796 1927—7,804
banks
banks
banks
banks
banks
LIABILITIES—continued
Amount due to national b a n k s . 933,661
980,891
976,119
979,814
Amount due to other banks, bankers, and
trust companies
1,885,848
1,818,955
1,764,982 1,844,439
Certified checks outstanding
217,123
219,759
200,381
223,884
C ashlers' checks outstanding
„
365, 087
288, 669
201, 921
315,106
Demand deposits
.
10, 778, 603 10, 768, 669 10,430, 341 10,923', 729
Time deposits (including postal savings)... 6,313,809
6, 533,442 7,056,467
7,315,624
United States deposits
138, 239
241,945
139, 843
144, 504
Total deposits
United States Government securities bor- 29,642,161 SO, 86S, 991 20,912,209 21,775,128
rowed
24,442
23, 787
17,746
17, Oil
Bonds and securities, other than United
States, borrowed
3,173
3,299
3,826
4,646
Agreements to repurchase United States
Government or other securities sold
3,489
18,485
4,480
Bills payable (including all obligations
representing borrowed money other than
rediscounts)
253,807
391, 593
248,018
306,203
Notes and bills rediscounted
168,149
138,716
92,840
120,024
Acceptances of other banks and foreign
bills of exchange or drafts sold with indorsement
95,349
100,652
95,035
111, 010
Letters of credit and travelers' checks outstanding
12,880
7,778
9,812
15,449
Acceptances executed for customers and to
furnish dollar exchange less those purchased or discounted
221,131
250,361
242,265
248,184
Acceptances executed by other banks
29,801
23,268
17,636
20,353
50,805
Liabilities other than those stated above. _.
54,546
64,072
57,870
Total-

25,315,624

25,683,849

25, 699,147

C O N D I T I O N OF N A T I O N A L B A N K S OCTOBER 1 0 ,

26, 581,943

1,076, SCO
1,894,696
281, 479
227, 217
10,924,311
7, 590,944
255, 624
22,287,238
14, 787
2,948
3,045
235, 759
80, 571
157,422
10,684
278,967
18,414
51,657
27,213,824

1927

The resources of 7,804 reporting national banks October 10, 1927,
aggregated $27,213,824,000, the largest amount ever reported in
the history of the national banking system, exceeding by $1,529,975,000 the resources reported by 7,912^banks on December 31, 1926.
Comparison of the principal items of resources and liabilities
follows:
RESOURCES

Loans and discounts, including rediscounts, amounted to $14,366,926,000, and exceeded the amount in December, 1926, by $793,651,000, The percentage of loans and discounts to total deposits
was 64.46, compared with 65.06 on December 31, 1926.
Investments in United States Government securities owned were
$2,675,542,000, and showed an increase since December last of
$392,971,000. Other miscellaneous bonds, stocks, and securities
owned, $3,941,438,000, were $433,617,000 more than reported in
December.
Banking house, furniture, and fixtures, valued at $698,516,000,
exceeded the December figures in the sum of $53,636,000, and other
real estate owned of $122,161,000 showed an increase of $8,053,000
since December.
Amounts due from correspondent banks and bankers, including
lawful reserve and items in process of collection with Federal reserve



REPORT OF THE COMPTROLLER OF THE CURRENCY

25

banks, totaled $4,378,517,000, and were $158,787,000 less than in
December last year. Cash, in vault increased from $352,709,000 on
December 31, 1926, to $375,251,000 on October 10, 1927.
LIABILITIES

Capital stock paid in of $1,499,384,000 exceeded the amount
reported in December by $86,661,000, and surplus and undivided
profits aggregating $1,844,511,000 exceeded the December figures by
$150,315,000.
Liabilities for circulating notes outstanding were $649,886,000,
and exceeded by $3,437,000 the liability for the notes reported
outstanding at the end of the year in 1926.
Deposit liabilities were $22,287,238,000, and showed an increase of
$1,423,247,000 since December, Included in the classification of
deposits are balances due to correspondent banks and bankers,
which on October 10,1927, totaled $3,516,359,000, showing an increase
since December of $92,718,000; demand deposits, including United
States deposits, $11,179,935,000, which were $273,027,000 more
than in December, and time deposits, including postal savings,
totaling $7,590,944,000, which exceeded by $1,057,502,000 fhe total
of time deposits reported in December.
Liabilities for money borrowed, on account of bills payable of
$235,759,000 and rediscounts of $80,571,000, aggregated $316,330,000 and were $213,979,000 less than on December 31, 1926.
Statement showing the principal items of resources and liabilities of these banks in each State, Alaska, and Hawaii, at the close of
business October 10, follows:




Principal items of resources and liabilities of national banks, October 10, 1927
[In thousands of dollars]

Number of
banks

States, etc.

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New
States

.

57
55
46
153
13
65

74,712
40,354
37,685
865, 033
34, 518
179, 579
1,231,881

560

3,150,248
502,438
1, 547,860
12,402
160, 004
94,344

Other
bonds,
stocks,
etc.,
owned

Due from
Cash in banks and
vault other cash
items

Capital

7,770
5,400
5,110
79,738
4,870
21,702

Profits

Circulation
outstanding

6,490
4,872
3,253
67,273
4,955
19,997

6,123
3,915
2,520
31, 665
2,963
11,057
58,243

47,499

Surplus

61,032
16, 629
21,860
232,042
15,698
54,797

2,178
1,970
1,105
17,275
1,312

15,061
10,145
6,168
185, 719
6,115
36,682

181,994

402,058

30,523

259, 890

124, 590

106,840

624,648
70,020
317,999
2,153
35,409
18, 630

832,965
249,904
721,329
8,128
64,083
13,304

50,014 1,215, 025
15,898
83,300
46,262
390,832
431
2,454
3,721
50,924
3,146
24, 572

284,274
49,277
151, 267
1,759
18,809
10, 527

338, 747 137,135
47,349 21,785
245,041 83,971
2,465
1,051
18,115
7,762
7,655

515,913

659,372 254,796

10,965
10,822
5,402
121,498
6,227
27,0S0

Aggregate
assets

Bills
payable

Rediscounts

5,624
138,811
4,650
62,566
4,259
57,711
19,153 1,240,630
47,541
4,002
252,000
9,811

1,115
1,406
344
12,851
430
2,220

775
187
656
7,084
133
481

167,132
83,116
74,073
1,540,297
65,559
318,724

1,799,259

18,366

9,316

2,248,901

Total
deposits

England

New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia

294

,

Total Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee

United
States
Loans, in- Governcluding
ment
overdrafts securities
owned

867
19
84
13
1,837

,
,
,
,
,
,
,

Total Southern States....
Ohio
Indiana
„
Illinois
Michigan
Wisconsin




5,467,296

1,068,859

1,889,713

167
122
76
65
83
63
106
36
32
651
78
141
104

271, 261
129, 591
129, 566
77,497
180,913
123,803
139,788
54,635
81,092
604,959
60,399
778,373
168,056

32,894
17, 658
17,087
13,947
24,921
35,741
17,679
5,474
7,855
116,498
10, 744
40,544
18,399

29,031
20,489
7,267
13,198
14,628
43,629
24,571
14,874
5,373
53,301
8,215
35,139
13,583

6,191
4,421
4,514
2,989
5,209
4,978
5,631
1,697
2,123
21, 589

1,724

2,199,933

359,441

476,376
232, 219
1,064, 740
295,124
251,162

93,815
44,001
139,800
49,270
39,627

338
231
489
133
156

119,472 1,767,107

30,559
13,554
15,188
9,950
17,800
16,890
16,695
5,485
9,075
83,405
7,065
20,831
18,214

22,845
11,585
9,958
4,942
12,940
10,082
12,777
3,703
5,175

4,519
4,386

55,383
23,638
38, 016
24, 245
62,134
45, 579
46, 650
17, 514
25, 460
256,074
19, 946
41, 845
51,003

283,298

70,640

707,487

264,711

161,827

156,990
67,301
209,548

16,374
9,986
22,591
8,149
7,183

120,534
65,322
321,988
74, 591
70, 779

58,930
32,555
99,503
30,515
27,780

44,387
17,348
72,454
22,193
15,499

79,991

3,179
14, 567
11,321

67,010 5,010,917 64,209
799, 559 11,754
20,840
82,165 2, 519,337 34,285
1,133
244
19,664
9,526
264,109
4,831
3,993
138,706
1,017

5,180 6,234,863
2,899
959,151
6,670 3,158,601
257
26,601
484
325,306
166,413

184,667 8,752,292

116,340

316,327
161,754
162,985
115,459
251,418
221,482
195,506
79,455
104,681
903,326
87,206
244,325
216,241

8,216
2,336
2,444
395
1,219
4,972
602
1,073
1,997
4,291
1,100
4,376
535

3,762
413,277
1,070
207, 575
4,757
211,946
707
140,889
1,145
299, 740
1,595
266,599
1,703
245,077
2,641
97,659
1,471
132,872
1,938 1,109,540
1,071
105,791
537
310,502
3,762
268,032

73,659

152, 570 3,060,165

33, 556

26,159 3,809,499

23,641
9,770
40,341
11,158
9,212

719,780
37,219
22,340
353,752
34, 018 1,555,149
14,103
15,973
393,478

11,245
1,957
5,658
6,855
575

7,464
6,020
4,742
1,774
5,545
4,417
5,383
1,378
1,696
23,910
2,410
6,035
2,885

20,278
10,391
6,272
7,982
5,391
9,991
2,920
4,319
43,096
3,494
16, 222
12,876

15,490

1,172
2,711
939
1,879

913,801
442,277
1,841,202
554,335
468,245

_.-

281
286
135

332,903
190, 793
374,800

81,726
37,042
55,172

106,033
49,969
76, 790

9,275
8,180
6,850

135, 920
57, 111
134,152

36, 678
24,040
44,495

20,800
11,215
18, 520

Total Middle Western
States
„.-

2,049

3,218,117

540,453

845,190

88,5S8

980,397

354,496

222,416

142
98
154
258
74
30
124
29
349

49,830
35,804
130,352
132, 938
45,438
21,388
126,528
15,282
197,562

9,788
10,578
15,752
24,988
11,330
5,798
34,538
5,425
54,322

14,636
11,500
25,182
33,351
13,437
5,235
46,345
2,830
54,982

2,119
1,883
3,243
5,147
2,424
1,463
6,287
996
6,978

20, 683
15,234
52,243
50,297
23,176
10,246
57,478
5,853
93,048

5,845
4,645
14,155
18,532
5,380
2,460
12,480
2,035
27,425

2,629
2,111
7,140
8,675
2,375
1,780
9,085
983
7,380

785
881
3,262
3,397
1,760
586
3,576
343
4,158

3,555
2,261
7,774
9,876
2,345
1, 658
4,202
1,249
6,801

89,559
68,610
201,499
216, 533
87,681
39,247
246,444
27,097
373,423

1,258

755,122

172,519

207,498

30, 540

328,258

92, 957

42,158

18, 748

39, 721

110
95
239
52
20
10
15

156,141
104,100
1,160,215
28,216
30,073
10,854
13, 617

43,169
33, 803
252,462
7,615
5,086
2,434
4,629

54,908
37,805
199,711
7,224
6,986
2,397
2,618

5,744
3,625
21,779
1,166
743
427
947

64,103
38, 951
281, 061
13,391
14,197
3,772
4,999

18, 865
12,160
104, 682
3,635
3,650
1,400
1,525

8,075
5,347
62,137
1,436
1,534
660
372

5,061
3,492
33,142
729
900
213
334

9,427
2,970
37, 528
1,968
2,185
1,193
669

541

1,503,216

349,198

311,649

34,431

420,474

145,917

79,561

43, 871

4

2,063

1,030

664

384

1,084

200

135

2

3,801

2,048

1,368

673

652

600

720

Minnesota
Iowa.
Missouri.-..

North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Oolorado
New Mexico
Oklahoma.. _

»

Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada.
Arizona

-

--

Total Pacific States
Alaska (nonmember banks)
The Territory of Hawaii (nonmember banks)
Total ( n o n m e m b e r
banks)
Total United States,
Alaska and Hawaii




10,830
4,190
12, 707

13, 921
15, 038
16,381

598,864
306,042
564,143

721
100
3,351

530
1,989
3,051

687,618
364,073
666,993

121,849

168,993 4,956,168

30,462

15,360

5,938,544

317
37
704
800
73
49
1,435
230
1,848

428
558
2,041
1,491
138
196
1,003
76
3,452

103,151
79,235
237, 708
260,189
99,994
46,045
278,714
32,060
425,877

1,350,093

5,493

9,383

1,562, 973

293,221
201,334
1, 718,453
51, 999
50,243
17,007
25,056

677
135
29,032
418
403
426
451

665
329
3,299
259
94
217

339, 573
226, 987
2,032,127
60,537
59,151
20,934
29,130

55, 940

2,357,313

31,542

4,863

2, 768,439

98

58

4,815

5,310

218

438

7,133

9,223

496

11,948

6

5,864

3,078

2,032

1,057

1,736

800

855

316

7,804

14,381,429

2,675,542

3,941,438

375,251

4,465,349

1,499,384

1,273,029

571,482

649,886 22,287,238

o

H

a
o

14,633
235,759

80,571 27,213,824

fcO

28

BEPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL BANK LIABILITIES ON ACCOUNT OF BILLS PAYABLE AND
REDISCOUNTS

The total liabilities of national banks in the 12 Federal reserve
districts for money borrowed on account of bills payable and rediscounts amounted to $316,330,000 on October 10, 1927, and showed
decreases since June 30 and December 31, 1926, of $206,278,000 and
$309,328,000, respectively. On October 10 of the current year bills
payable were $235,759,000 and rediscounts $80,571,000.
Liabilities of national banking associations in each Federal reserve
district at the date of each call since June 30, 1926, are shown in the
following statement:
Total borrowings of national banks on account of bills payable and rediscounts in
each Federal reserve district at date of each call since June 80, 1926
[In thousands of dollars]
District
No. 1
Dec. 31, 1926:
Bills payable
Rediscounts

District
No. 3

District
No. 4

District
No. 5

District
No. 6

District
No. 7

31,097
56,764
87, 861

Total
Mar. 23, 1927:
Bills payable
Rediscounts

District
No. 2

„

168, 781
54,332

37,358
12,546

45,676
14,588

19,486
14,749

9,911
23,233

29,979
30,273

223,113

49,904

60,264

34,235

33,144

60,252

20, 591
9,797

117,895
5,523

34,458
8,145

20,891
5,996

13,763
10,021

14,405
12, 059

25,108
18,544

Total

30,388

123,418

42,603

26,887

23,784

26,464

43,652

June 30, 1927:
Bills payable
Rediscounts

33,403
15, 028

37,451
9,688

24,197
3,585

19,664
13,049

8,346
12,905

16,390
22,568

47,139

27,782

32,713

21,251

38t958

Total

48, 431

62, 917
8,888
71,805

Oct. 10, 1927:
Bills payable
Rediscounts

17,941
9,316

73,179
6,541

23t694
7,761

25,917
4,182

19,168
10,706

9,458
10,819

12,744
8,145

Total

27, 257

79, 720

31,455

30,099

29,874

20,277

20,889

District
No. 8

District
No. 9

District
No. 10

District
No. 11

District
No. 12

Dec. 31, 1926:
Bills payable
Rediscounts

14,638
8,259

2,442
2,467

2,144
5,055

5,379
4,146

24,702
7,653

391,593
234,065

Total

Total

22,897

4,909

7,199

9,525

32,355

625,658

Mar. 23, 1927:
Bills payable
Rediscounts

7,584
7,007

4,37
2,173

5,295
5,731

5,475
1,102

36,368
6,742

Total

11,591

6,543

11,026

6,577

43,110

306,203
92,840
399,043

June 30, 1927:
Bills payable
Rediscounts

15, 746
10,903

1,407
2,949

1,468
10,220

6,464
2,874

20,565
7,367

248,018
120,024

Total

26,649

4,356

11,688

9,338

27,932

368,042

Oct. 10,1927:
Bills payable
Rediscounts

10,980
4,574

1,292
1,692

4,908
9,723

5,176
2,249

235, 759
80, 571

Total

15,554

2,984

14,631

7,425

31,302
4,863
36,165




316,330

29

REPORT OF THE COMPTROLLER OF THE CURRENCY
LOANS AND DISCOUNTS OF NATIONAL BANKS

Loans and discounts of the 7?796 national banks on June 30, 1927,
amounted to $13,955,696,000, in comparison with a total of $13,417,674,000 on June 30, 1926.
Of the total loans and discounts in the current year 43.90 per cent
was on unsecured time paper indorsed by one or more individual or
firm names, 15.87 per cent on time loans secured by stocks and bonds,
and 15.93 per cent on demand loans similarly secured.
The amount of paper eligible for rediscount with the Federal
reserve bank on June 30, of the current year, was $3,361,795,000,
or 24.09 per cent of the total loans and discounts, and $109,712,000,
or 0.79 per cent was secured by United States Government obligations.
Statement showing the classification of loans and discounts reported by national banks for the last three fiscal years ended June
30 follows:
Classification of loans and discounts for the last three fiscal years
[In thousands of dollars]
June 30, 1925
Class

June 30, 1926

June 30, 1927

Amount
On demand, paper with one or more individual or firm names (not secured bycollateral)
_
_
On demand, secured by stocks and bonds..
On demand, secured by other personal
securities, including merchandise, warehouse receipts, etc__
On time, paper with one or more individual or firm names (not secured by
collateral)
_
On time, secured by stocks and bonds__._.
On time, secured by other personal securities, including merchandise, warehouse
receipts, etc.
Secured by improved real estate under
authority of sec. 24, Federal reserve act,
as amended:
1. On farm land
2. On other real estate.Secured by real-estate mortgages or other
liens on realty not in accordance with
sec. 24, Federal reserve act, as amended:
1. For debts previously contracted
(sec. 5137, R. S. U. S.)—
(a) F a r m l a n d s . . .
„
(&) Other real estate
2. All other real-estate loans—
(a) Farmlands
_
(&) Other real estate
Acceptances of other banks discounted
Acceptances of reporting banks purchased
or discounted
Customers' liability on account of drafts
paid under letters of credit
_
Total
i Not called for separately.




Per
cent

Amount

Per
cent

Amount

726,100
1,843,167

5.73
14.54

775,107
2,053,871

5.78
15.31

821,795
2,223,557

5.89
15.93

342,914

2.46

300,561

2.37

324,405

2.42

Per
cent

6,132,318
1,817,730

48.39
14.34

6,344,135
1,982,754

47.28
14.78

6,125,942
2,215,105

43.90
15.87

1,062,755

8.39

1,133,621

8.45

1,045,178

7.49

122,214
269,247

.96
2.12

123,641
337,393

.92
2.51

165,903
571,468

1.19

123,332
81,874
10,334
29,797
107,767

.97
.65

116,887
92,605

.87
.69

118,032
105,524

.35
.76

.08
.24

11,555
43,371
78,329

.09
.32
.58

21,274
80,324

.15
.57
.67

43,766
3,105
12,674,067

.85
.35
.02
100.00

13,417,674

V)

25,042

0

0)

0)

100.0

13,955,696

.18

0)
100.00

Loans and discounts of national banks June SO, 1927
[In thousands of dollars]

On demand

Secured by real estate
mortgages or other liens
on realty not in accordSecured by
ance with section 24,
improved real
Federal reserve act, as
estate under
amended
authority of
section 24,
1. For debts
Federal
previously 2. Allother
reserve act,
contracted
as amended
real estate
(sec. 5137,
loans
E . S., U. S.)

On time

Cities, States, and Territories

si
111

6
o

i

CENTBAL RESERVE CITIES

New York
Chicago
Total central reserve cities..

41,167 735,383 56,789 892,724 473,975 76, 767
33,396 172,981 49,375 235,443 142,654 38, 667
74,563 908,364 106,164 1,128,167 616, 629 115,434

1,521
519
157
157 2,040

1,416
110
110 1,421

31,024
310
828
580
5,894
2,363
242
1,902
243
877
1,282
995
413

1,088
91
37
13
2,863
667
177
242
190
462
638
1,229

775 49,31318,815 2,348, 645 478,406 17,235
14 8,396 170 681,887 196,035 6,307
7S9 57, 709 18,985 3,030,532 674,441 23,542

OTHER RESERVE CITIES

Boston
Albany
Brooklyn and Bronx
Buffalo
Philadelphia......
Pittsburgh
Baltimore
Washington
Richmond
Atlanta
Savannah
Jacksonville
Birmingham
New Orleans

„




43,955 97,625 12,743 222,281
339 24,403
708 24,927
487 34,188
338 11,056
253
1,645
4,787
3, <
25,269 111, 827 14,104 249,505
12,704 69,947 6,399 73, 694
4, 739 21,116 1,747 55,429
4,221 26,394 4,174 42,662
1,174
4,057 1,763 26,001
8,558 1,215 26,103
1,286
6,574 4,068 20,134
816
9,157
1,322
18,651
554
357 21,132
103
793 13,072
1,813
5,090

2,460
3,903
«5j.y

75,227
43, 444
7,816
6,999
19,324
16, 635
7,435
8,746
5,608
2,311

451
1,169
733
15.878
'765
4,975
5,837
4,211
7,540
5,810
2,958
3,781
1,851

181
13
13
99
217

3
41
101
25

453L

659 2,48415,311
305
3,007
1,164
167
332
257
201

7
141
201

446

"I26
634
200
40
"278

310*

94,525 2,283
284
14,070
52,445 14,210
295
14,417
15
725
503,709 138,645 3,325
210,350 57,848 2,581
96,617 22,314
776
92,872 12,984
575
57,295 10.084
281
62,797 17,500
264
47, 223
182
9,415
45,945 13,831
408
32,165 12,875
121
81
5,850

540,068

Dallas - El PBSO
Fort Worth
Oslveston
Houston
San Antonio
Waco
Little Rock
Louisville
TVIflmnhis
"N"ashville

-

—

Cleveland
C olumbus
Toledo
Trdianapolis
Chicago
Peoria
Detroit
Orand RaDids
IXJilwPukee
Minneapolis
St Paul
Cedar Rapids
Des Moines
"Dublin uo
Sioux City
_
Kansas City, Mo
St. Joseph
St Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
Wichita
Helena
Denver
Pupblo
Muskogee
Oklahoma City
Tulsa
Seattle
Spokane

Portland

Los Angeles
Oakland
San Francisco
Ogden
Salt Lake City..

_._

Total other reserve cities
Total all reserve cities




1,645
30
867
433
5,400
1 140
728
8
3 296
113
584
5 276
4 731
4,052
1 015
1 472
2,165
2,126
1,244
378
12 199
11, 470
9 159
434
1,385
958
1,401
2,876
471
19,686
398
1,296
73
342
163
170
484
2 595
49
1,667
2,305
2,220
820
2,402
9,919
6 308
36*616
95
932

1,857
23
1,866
3,380
2,653
333
669
390
10,212
1,330
508
3 498
2,952
2,627
16 819
770
11 868 5,227
8,477
1,063
712
2 673
797
5 049
6,586
1,286
3,868
1,044
431
10,655
406
46
10 419
2,807
6,619
19,951
15 707
515
3,810
45
1,712
913
88
215
432
470
8,076
2,990
3,115
145
35,135 12,970
127
99
1,214
4,071
1,045
144
97
157
1,750
400
142
7,214
292
7,873

1,384
4 341
13, 581
4,384
311

41,076
9,160
23,002
6,890
29, 700
14,660
5,500
1,705
28,676
4,286
25,242
11,007
22,427
22,898
1,600
33,319
13,896
7,997
57,795
11,338
52,666
45,090
20,878
5,099
5,101
1,143
7,641
19,387
9,127
81,422
7,809
21,416
2,260
4,307
5,909
1,948
18,738
2,057
2,184
12,501
28,485
30,904
15,257
28,283
111, 145
4,371
170,560
2,524
9,603

17,176
3,272
7,050
2,610
17,572
6,699
1,053
77
13,412
1,616
6,899
6, 552
11,447
15,435
863
7,616
10,374
3,593
55,045
8,397
17,501
16,977
11,925
3, 586
7,203
1,129
1,400
12,816
1,181
47. 663
3, 384
11,338
684
1,194
3,320
463
18, 508
555
1, 577
5, 909
14,454
12, 893
3,275
10, 095
51,769
247
67, 033
903
4, 946

14,859
904
7,722
136
10,822
4,991
1,360
1,521
6,392
2,162
4,455
1,317
1,720
2,369
184
6,098
5,430
1,046
3,031
390
6,429
13,978
2,795
1, 559
3,537
848
3,308
30,976
1,338
24,000
3,060
14,624
2,404
931
5,059
532
15,183
1,177
506
13.877
2, 504
7,764
5,018
5,087
18,077

196
3J5
132
53
156
29

388
34
18

1,620
55
74
95
816
84
40
113
472
114
558
1,227
7,191
717
155

869
381
167
2
83
1,492
322
176
90
73
8
24

364

594
525
55
36
666
121
407
77
214
143
243
415
156
39
49
1,247

913
52
5,506
1,323
248
1,411
161
178
55
385
160
773
20
3,455
32
136
763
86
90
12
656

214
241
261
46
772
547
114
1
128
329
278

1,35

30
1
154

17

109
69
19

50

217

65
7
6
811

19
399 4 386
38

580

10

272
936
30
212

241

16

148

182
100

5

139
79

127
6
392
4
564
115
8
40
61
158
172
54
472
15
353

852
162
404
296

115
4

1

788

389

501
564
411

67

9

121
43
23
45
70
180
438

3 1,108
3
600
4

20
9

5

78

75
250

87,317
14,110
43, 579
17, 998
81, 585
34, 561
10,956
3,991
63,918
12,716
44,075
42,968
66,182
56,011
7,232
54,838
40,789
20,169
134,559
22,555
102,673
116,682
61,690
15,949
20,835
5,436
16,243
78,999
15,484
225,817
15,159
55,119
7,861
7,405
17,223
3,731
63,446
6,384
4,781
38,840
58,253
62,037
28,299
56,840
235,409
19,851
586,118
5,091
20, 047

20,919
5,137
13, 668
7,148
18, 532
11,392
3,400
850
15,376
2,575
7,913
7,984
7,898
9,256
2,500
15,674
7,655
10,142
15, 987
4,751
18,001
32, 391
18,859
3,225
4,861
1,301
6,202
26,204
6,471
68, 556
3,850
15, 284
1, 761
4,446
5,289
1,450
19, 589
2,118
1,561
7,186
7,441
23, 521
6, 598
15, 725
26, 710
4,790
74,123
1,444
6,730

416
26
463
56
647
379
311
40
458
54
184
1,232
440
1,365
249
1,735
597
164
887
79
624
832
845
455
117
75
72
744
281
2,132
299
549
118
129
93
12
672
49
75
543
153
745
75
723
1,081
79
2,859
7
109

113
79
39
71
118
144
66
342
62
176
25
677
16
73
720
411
43 1,174
11
190
75
237
63
111
2,813
230
96
645
67
623
39
9
423
101
387
2,063
100
1,948 21. 543 2,958 1,709
27
134 5,708
2,441
4
202
761
5 719
243
27, 505 40,220 132, 021 5,858 4,427 10,444 34,671
111
8,056
1
48
56
127
11
738
72l
5
4
218
18
154
327
1,735
268,966 711,166 128,108 1, 930,313 828,166 363,516 49, 744 233,419 15, 595 24, 507 12 497 51, 238 23, 725 4, 141 4, 645,101 1, 029,320 35, 800
„
. - 343, 529J1, 619, 530 234,272 3,058,480 1 444, 795 478, 950 49, 901 235,459 15, 705 25, 928 12, 497 52, 027 81, 434 23, 126 7, 675, 633 1, 703, 761 59, 342
45
3,389
8,068
4,756
268
7,961
7,931
2 239
48,353
511
2,110

CO

Loans and discounts of national banks June SO, 1927—Continued

to

[In thousands of dollars]

On demand

Secured by real estate
mortgages or other liens
on realty not in accordSecured by
ance with section 24,
improved real
estate under | Federal reserve act, as
amended
authority of
section 24,
Federal
1. For debts
reserve act,
previously 2. All other
as amended
contracted
real estate
(sec. 5137,
loans
R. S., U. S.)

On time

Cities, States, and Territories

If
I
o
COUNTRY BANKS

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
_
Total New England States
New York
New Jersey
Pennsylvania
Delaware
_
Maryland
Total Eastern States
Virginia...
West Virginia
North Carolina




9,732
6,172
6,324
13,138
1,127
11, 689
48,182

33,095
7,905
2,215
17,958
3,073
259
997
17,367
3,593
1,327
953
142,086 63,003
26,397
8,528
551
16,968
6,216j
1,664
3,858
72,013 39,454
3,111
31,578|
269
86,377| 12,694 299,487| 122,477| 17,842 2,925

49,993 86,753 11,146
44, 921 91,704 8,715
103, 281 126,036 10,399
1,981
1,762j
505
8,482
5,1431 1,337
208,658| 311,398' _32,_102
7, 363 j 8,125
3,835
4,510
7,595
372
2,631]
3,107
1,373

275,248 58, 565
246,813 38, 606
368,654 104,446
5,997
654
31, 691
6,749
928,4031 209,020J
124,837 39,122
76,865 29,261
78,756 23,107

13,271
10,374
14,471
101
1, 442!
39,568;
11,395
2,081
11,529

360
5,600
88
936
2,518
155
22, 522
354
1,516
7
10, 604
83
43,696 1,047

1,214
494
707
3,282
29
1,913
7,639

5,204 38,053 2,557
1,289 49,891
503 3,516
7,892 76, 304 1,609 9,183!
371
628
102
132|
413
314!
1, 528| JMJ85
16,541167,304
3, 041
3,3Z0i 6,302 2,17
2,135
555 4,774
237 3,358i
9771
1,016! 2,300 1,3971

95

73,985
39,930
37,385
291,878
33,480
173,542

237 5,542 979
147 1,633 138
730 6,209 1,193
25
373 373!.
512113/757 2, 3lp|
2121 561
3
488
202],

557,519
498,254
830,414
12,167
60, 530
1,958,884
209, 635
130,176
126,491

73
8
1
43
90
40
421 3,992
95 1,369
35 783
650 6,300

650,200

15,001
7,213
8,552
52,250
7,286
27,650
123,952

1,023
615
330
2,092
181
2,074
6/315

147,783
110, 643
128,7621
3,1731
10,939!
401,300'
59, 607
18,399
36,934

3,597
2,878
6,628
218
13,629
1,259
1,415
1,126

South Carolina
„
Georgia
_
Florida
Alabama
Mississippi
_
Louisiana
Texas
_.
Arkansas
Kentucky
Tennessee
_
_
Total Southern States.
Ohio
Indiana. —
_
__
Illinois
Michigan
Wisconsin
Minnesota
_. .
Iowa
Missouri
_
Total Middle Western States
North Dakota
„
South Dakota
Nebraska _.
Kansas
_
.
Montana
Wyoming
_.
Colorado
____
.
New Mexico .
Oklahoma
Total Western States
Washington
Oregon
California _
Idaho
Utah
Nevada
Arizona
Total Pacific States.
Alaska (nonmember banks')
The Territory of Hawaii (nonmember
banks)
Total (nonmember banks)
Total country banks
Total United States_.^




3,050
2,792
2,858
4,282
538
1,191
15,759
975
7,947
3,329
57,225

4,220
1,729
10,021
2, 480
225
2,401
16, 658
4,773
7,435
2,449

2,386
1,649
2,320
2.160
593
809
7,021
1,285
1,162
1,178

35,860
30, 984
37,879
41, 475
24, 378
27,477
114, 571
25,309
64,218
68,514

11,892
6,798
11, 612
6,806
6,869
7,189
19, 743
5,503
14, 360
18,950

71,218

26,143

751,123

201,212

43,387
8,105
26,808
3,110
4,469
7,595
6,675
5,203

37,968
5,060
17,093
]1,125
6,075
11,244
2,725
2,896

4,479
1,083
3,109
1,482
1,037
2,869
2,142
2,013

137,686
111,813
186,557
73,055
85,628
54,581
75,994
24,938

105,352

94,186

18,214

750,252

33,211
25,770
30, 748
30, 981
27,350
13,464
9,081
3,533
174,138

2,343
865
2,008
5,583
4,079
528
1,759
600
3,419
21,184

209
663
622
4,290
6,485
578
2,421
421
6,422

14,398
13,329
29,811
47,306
12,572
5,740
18,438
4,710
32,063

22, 111

915
270
471
1,380
995
404
640
519
1,143
6,737

178,367

2,761
1,987
1,616
5,397
2,398
3,704
4,326
1,259
5,018
28,466

3,494
9,653
20,492
511
67
2,274
102

3,580
1,886
8,357
328
182
760
1,070

2,156
2,833
5,087
941
18
1,486
72

33,905
18,281
82,460
13,170
2,500
2,491
5,888

5,033
1,385
23,080
1,889
884
586
2,100

36,593

Id, 163

12, 593

158,695

34,957

522

17

99

1,027

37

137

550
1,072

2,557

60
159

108
1,135

3
40

13

248

111

150

256

223

2,574

12,511
8,753
13, 655
22, 038
11,371
8,503
84, 878
9,721
6,239
7,370

1,765
1,760
1,100
1,881
1,860
684
2,797
1,466
2,934
1,621

1 563 1,655|
1,409 3.267
4S2
4,994
2,323 1,876
2, 683 1,015
906 2, 908
2,608 10,490
1,654 2,113
2,959 2,555
1,434 1,379
210,044 22,809 35,909 31, 560

l r 264
t, 558
2, 078
982
994
697
3, 657
769
1,887
1,681

431
U1
44
97
311
24
700
40
317
127

442
12
76,740
77
17
84
60,814
796
87,849
110
23
86,538
5
259
49
51,145
33
6
33
52,861
397 4,635
513
284, 427
29
330
53,967
382
66
112,461
30
18
108,080
22,037 2,105 3,381 5,036 1,382 1,441,184

613 1,396
6,752 8,018 17,385 4,110 5,008
63
326
7,174 6,249 9,055 3,926 2,167
262
93
467
18,106 8,752 6,175 6,155 3,215
470 1,466
395 1,181
80
4,353 5,232 18, 971
456
32
139
9,575 5,289 7,522 1,909 1,410
206
570
1
245
21,807 10,069 5,403 5,460 1,467
277
497
17,109 4,040 2,217 9,608 1,828
224
382
55
7,322 1,339 1,701 1, 537
525
40
92,198 48, 988 68,429 33,100 16,801 2,422 3,331 2,607
18,956
12,420
16,136
28,922
8,960
8,992
17,138
4,966
39, 867

3,449
1,312
1,470
2,626
861
300
1,370
190
1,644

156,357 13, 222

1,438 3,614
673 2,591
569 2,651
1,415 3,326
589 1,256
799
365
746 1,818
437
647
1,635 2,567
7,867 19,269

993 1,532
857 2,249
9,573 4,383
359 1,509
216
399
288
951
295 1,144
50,069 11,261 12,581 12,167
12,252
7,031
17,110
8,697
1,605
1,018
2,356

1,550
822
7,025
995
366
375
128

112

109
26
14
118
108

75
244
138
107

195
62
533
74

435
39
2

5
78
647

8
8
880

506

293
501
3,666
190
157
213
263
5,283

7

76

23

77
500
92

21
39

20
164
8

4
15
67
146

862

300,180
181,089
309,144
150,460
151,179
134,482
132,545
51,102

163 1,410,181

1

379
392
267
474
459
80
717
185
313
85
349
61
18
595
10
345
1,164
343
4,795 1,441

9
8
173
572

104
6
23
7

62

30
76
138

24,480i
571
24, 569
367
23, 977
433
33, 008
489
18,190
343
13, 709
144
120, 930 1,189
19,199
488
22, 914
952
40, 018 3,324
455, 934 12,100
51, 798
51,188
92,312
30, 962
45, 618
44,186
54,834
14,908

385,806 14,062

48,964
34,877
56f 005
101,804
38, 793
21,827
49,302
14,291
95,533

19,100
15,700
23, 243
44,515
11,680
8,668
18,276
5,850
46,191

98
109
98
638
112
101
504
127
695

461, 396

193,223

2,482

65,058
46,239
182,005
28, 772
6,394
10,485
13,580
352, 533

23,063
14,438
35,663
12,031
2,775
2, 532
6,637

497
190
693
201
11
33
130
1, 755

2,035

680

97,139

5,685

12
15

3,650
76

5,081
2,954
2,699
888
997
666
434
363

680

27

478,266 604,027 108, 642 3,067,462 770,310 566,228 116,002 336,009 102,327 79, 596 8,777 28,297 12,204 1,916 6,280,063 1,658,03 i 460,370
821,795 2,223,557 342,914 6,125,942 2,215,105 1,045,178 165,903 571,468 118,032Jl05,o24 21,274 80,324 93,638|25,042 13,955,696 3,361,795 109, 712

34

REPORT OF THE COMPTROLLER OF THE CURRENCY

COMPARATIVE STATEMENT OF LOANS AND DISCOUNTS, INCLUDING REDISCOUNTS, MADE BY NATIONAL BANKS DURING LAST THREE FISCAL YEARS

The percentage of loans and discounts of national banks in the
central reserve cities of New York and Chicago, to the total loans
and discounts of all national banks on June 30, 1927, together with
similar information in relation to banks in other reserve cities, etc.,
is shown in the following statement, compared with like information
for the fiscal years ended June 30, 1925, and 1926:
[In thousands of dollars]
Loans
Banks in—

June 30, 1925

June 30, 1926

June 30, 1927

Amount
New York
Do
.
Chicago _Other reserve cities
All reserve cities
„
.
States (exclusive of reserve cities)
Total United States

Per
cent

Amount

Per
cent

Amount

2,084, 305

16.45

2, 274, 618

16.95

2,348,645

1G.83

} 2, 694,922
3,994, 646

21.26
31.52

2,914, 668
4,183,155

21.72
31.18

3,030, 532
4,645,101

21.72
33.28

6, 689, 568
5, 984,499

52.78
47.22

7, 097, 823
6,319, 851

52.90
47.10

7, 675, 633
6, 280,063

55.00
45.00

12, 674, 067 100.00

13,417, 674

100.00

13,955, 696

100.00

Per
cent

COMPARATIVE C H A N G E S I N D E M A N D A N D T I M E DEPOSITS, L O A N S A N D D I S C O U N T S , U N I T E D STATES G O V E R N M E N T A N D O T H E R BONDS A N D S E C U R I T I E S , A N D T H E A M O U N T O F L A W F U L RESERVE O F N A T I O N A L B A N K S S I N C E
JUNE 30, 1923

Demand deposits in national banks on June 30, 1927, aggregated
$10,923,729,000, which was an increase of 1.35 per cent over June
30, 1926. Time deposits in the sum of $7,315,624,000 were 15.87
per cent more than on the same date of the previous year.
Loans and discounts were $13,955,696,000, showing an increase of
4.01 per cent in the year; United States Government and other
bonds and securities held, $6,393,218,000, were greater by 9.43 per
cent, and the amount of lawful reserve with Federal reserve banks of
$1,406,052,000 likewise increased 1.80 per cent in the 12-month period.
The percentage of increase or reduction of each of the resource and
liability items referred to since June 30,1923, is shown in the following
statement:




REPORT OF THE COMPTROLLER OF THE CURRENCY

35

[In thousands of dollars]
Per
cent
increase
June 30,
1923

Demand deposits
Time deposits__
Loans and discounts L .
TJuited States and
other bonds, stocks,
etc
Lawful reserve with
Federal
reserve
banks
1

Per
cent
increase

Per
cent
increase

Per
cent
increase

June 30, or de- June 30, or de- June 30, or de- June 30, or de1924
1925
1926
crease
1927
crease
crease
crease
(-)
since
since
since
since
June
June
June
June
30,
30,
30,
30,
1924
1925
1923
1926

9,288,298 9, 593, 250 +3. 28 10,430, 254 +8.72 10,778,603 +3. 34 10,923,729 +1.35
1,
1-12.64
{-15.87
4,755,162 5, 259,933 +10. 62 5,924,658+12.64 6,313,809 +6.57 7, 315,624 +15.87
11,817,671 Hi 978, 728 + 1 . 3612,674,067 +5.80 13,417,674 +5.87 13,955,696 +4.01
.,
5, 069, 703 5,142,328 +1.43 5, 730,444 +11.44 5,842,253 +1.95 6, 393,218 +9.43
1,142,736 1,198,670 +4. 89 1,326,864 +10. 69 1,381,171 +4.09 1,406,052 +1.80

Includes rediscounts and customers' liability under letters of credit.

UNITED STATES GOVERNMENT SECURITIES HELD BY NATIONAL BANKS I N
RESERVE CITIES AND STATES

Investments by national banks in United States Government
securities on June 30, 1927, aggregated 3,596,178,000, in comparison
with $2,469,268,000 on June 30, 1926.
Investments by these associations in Liberty loan bonds were
$879,698,000, in Treasury bonds $754,537,000, and in all other issues
of United States Treasury bonds, including bonds deposited with the
Treasurer to secure circulation, $679,281,000. Short-term Treasury
notes held were in the sum of $205,996,000, Treasury certificates
of indebtedness $60,972,000, and Treasury savings certificates
$15,694,000.
Classification of these securities held by national banks in reserve
cities and States, June 30, 1927, follows:
United States Government securities owned by national banks June SO, 1927
[In thousands of dollars]

161,952
24,289

Cities, States, and Territories

Liberty
loan
bonds,
all
issues

All other
issues of
United
States
Shortbonds
Treas- (includterm
ury
Treasing
bonds bonds de- ury
notes
posited
to secure
circulation)

273,671
7,927

34,747
4,530

51,216
31,418

3,212
2,831

624,802
70,995

186,241

281,598

39,277

82,634

6,043

595,797

15,686
662
2,850
173
14,586
60,618

45,559
2,722
453
471
17,130
28,525

3,413
1,255
1,238
1,387
7,181
14,373

2,386
910

2,212

69,256
5,549
4,626
2,177

Treas- Treasury
ury
certifi- savcates
ings
of in- certifidebtedness cates

Total

CENTRAL RESERVE CITIES

New YorkChicago
Total central reserve cities..
OTHER RESERVE CITIES

Boston
Albany
Brooklyn and Bronx
Buffalo
„
Philadelphia
Pittsburgh

„

„
...._-.....
,,




2,974
318

80
146
2,219
810

44,090
104,144

36

EEPOET OF THE COMPTROLLER OF THE CURRENCY

United States Government securities owned by national banks June 80, 1937—

Continued
[In thousands of dollars]
All other
issues of
United
Cities, States, and Territories

OTHER RESERVE CITIES—continued
Baltimore
Washington. _.
Richmond—-,
.__..._
Atlanta
Savannah
Jacksonville
Birmingham
,
New Orleans
Dallas....
El Paso.__
Fort Worth
Galveston
Houston.
San Antonio
Waco...
Little Rock
Louisville-Memphis
Nashville
,,,
Cincinnati..
.. ....
Cleveland
Columbus.
.
Toledo
Indianapolis
„...
Chicago
>
Peoria..
......
Detroit.
Grand Rapids
Milwaukee
Minneapolis
. St. Paul
Cedar Rapids
Des Moines
Dubuque
Sioux City.__
Kansas City, Mo
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
.
.....
Wichita
Helena..Denver.
...
Pueblo
Muskogee
... ..
.
..
Oklahoma City.
Tulsa...—
Seattle
.•_
Spokane...
Portland...
Los Angeles
Oakland
San Francisco
.
Ogden
Salt Lake City
Total other reserve cities..
Total all reserve cities
...
COUNTRY BANKS
Maine
New Hampshire
..
Vermont
Massachusetts
Rhode Island....
Connecticut
Total New England States.




Liberty
loan
bonds,
all
issues

11,579
7,665
472
4,881
47
6,116
1,050
125
5,343
621
3,124
2,741
3,101

Shortbonds
Treas- (includterm
ury
Treasing
bonds bonds de- ury
notes
posited
to secure
circulation)

4,494
4,890
. 20
6,120
4,792
165
968
5,365
769
2,180
627
4,390
1,000

1,614
101
4,862
2,309
317
578
13
3,741
3,797
2,193
6,666
3,783
2,683
1,435
1,615
1,913
1,397
5,014
1,254
1,664
725
10,023
104
5,358
3,272
3,007 19,396
7,783
9,264
177
316
842
1,192
1,108
51
952
595
6,020
2,863
309
683
4,642
5,929
297
233
846
2,070
224
336
1,937
458
295
958
388
642
10,202
5,754
1,014
125
2,426
208
8,223
435
1,100
648
3, 864 10, 603
328
201
13, 563
6,498
11,547
4,592
2,788
2
53,706 79,932
207
27
107
1,285
326, 806 308, 853
613,047 590,451
1,753
3,200
567
9, 982
1,304
8,678
25,484

3,058
2,770
309
18,059
105
6,877
31,178

5,819
4,314
1,015
2,647
100
1,559
2,061
1,575
6,412
951
2,582
1,432
5,221
2,902
1,650
15
4,177
50
2,908
1,830
3,642
2,091
500
3,499
2,343
2,290
1,716
4,481
2,947
4,695
1,005
1,657
402
1,106
1,526
378
9,828
578
1,179
829
200
1,514
436
780
1,095
393
2,400
2,657
334
6,228
1,500
21,064
712
1,120
166,170
205,447

7
1,536
1,592
1,438
367
625
3,451
735
849
373
250

10,524

Treas- Treasury
ury
certifi- savcates
ings
of in- certifidebtedness cates

347
200
255
3,756
2,125
40

34

14
200

100

1,713
1,408
316

640
443
1,105

1,111
1,037
247

596
644
26
209
3,636 "8,-902

1,070
4, 875
200

20
1,197

716
103
5
4,178
4,159
5
10
292

205
199
325
40
3,725
72
94

3,528
54
1,060
1,343
6, 218
345
300
184
5,862

1,331

3,992

902
.....

2
30
35
588

33

2,580

100

73, 054

5,848
132
4,801
67
4,476
45
16,695
1,348
4,072
410
10,107
1,144
45,999 1 3J.46

31,521 | 14,017
37,564 14,021
55
118

376

1,186

90

Total

21,899
18, 753
3,299
13, 903
147
17,661
3,649
4,119
22, 730
3,116
8,735
5,187
13,162
8,080
3,264
116
21, 876
1,045
2,921
11, 721
14,352
9,982
3,550
8,516
10,318
5,135
22, 561
1,820
14,201
31,422
21,942
1,703
4,608
1,664
2,658
14; 912
1, 410
28,283
1,185
4,189
1,399
3,727
1,253
1,230
22,337
1,629
4,509
11,126
8,394
22, 798
3,546
20, 579
30, SOU
4,290
159. 598
946
2,617
920, 421
1, 516, 218
10,931
10,957
5,397
46,457
6,159
27,182
107,083

REPORT OP THE COMPTROLLER OF THE CURRENCY

37

United States Government securities owned by national banks June 80, 1927—
Continued
[In thousands of dollars]

Cities, States, and Territories

Liberty
loan
bonds,
all
issues

All other
issues of
United
States
bonds
Treas- (includury
ing
bonds bonds deposited
to secure
circulation)

Shortterm
Treasury
notes

Treas- Treasury
ury
certifi- savcates
ings
of in- certifi
debtedness cates

Total

COUNTRY BANKS—continued

New York.-...
New Jersey
Pennsylvania..
Delaware..
Maryland

18

29,262
23,076
54, 562
803
2,006

32,859
21,862
62,694
1,184
3,855

3,230
6,002
6,825
342

1,263
1,524
2,235
47
157

109, 709

Total Eastern States.

12,699
15,313
26,504
112
1,202
55,830

122,454

16,399

5,226

1,582
580
990
1,326
599
868
2,852
663
376
6,299
931
631
864

19, 844
10,648
9,464
6.588
5,901
4,246
7,984
3,005
2,724
23,041
3,507
12,226
10,305

276
979
950
172

101
22
6
179

18,561 I 119,483

1,023
262
273
254
3,376
481
359
136
8,778

410
95
370
100
226
2,196
871
404
200
2,879
567
268
719
9,305

503

27,640
19,196
26, 746
11, 543
11,976
10,498
11,994
5, 296

636
1,130
3,787
862
1,672
2,343
959
402

270
713
1,891
234
750
421
468
574

37,667 I 124,889

11,791

5,321

1,497
1,973
456
1,827
1,427
687
1,000
1,022
2,574

3,508
2,316
6,166
8,431
3,747
1,960
3,466
1,474

324
1,061
197
690
288
848
580
380
1,740

94
155
71
126
67
91
164
50
508

13
205

309,854
—a

Virginia
...
West Virginia...
North Carolina.,
South Carolina-,
Georgia
...
Florida...
Alabama
Mississippi
•
Louisiana..
Texas
Arkansas
Kentucky- „
Tennessee.
Total Southern States.,

57,416

Ohio........
Indiana
Illinois
Michigan...
Wisconsin..
MinnesotaIowa
Missouri

14,452
8,841
24, 949
7, 761
7,134
9,357
9,269
3,423

Total Middle Western States—
North DakotaSouth Dakota-.
Nebraska
Kansas.
Montana
Wyoming
Colorado
...
New Mexico...
Oklahoma......

85,186

5,566
5, 800
4,045
5, 241
1.807
8,171
2,148
2,566
483
12,134
4,150
3,997
1,308

Total Western States.

7,631
5,170
8,433
2,260
4,174
4,233
3,456
2,310

m

21

138
22

265,106

1
2
2
13
154

9,981
10.292
10,835
18,289
10,228
5,871
10,344
6,166
31,431
113,435

12,463

37,148

6,108

1,326

232

8,140
5,438
10,494

3,745
2,762
12,036
2,160
445
1,204
847

166
545
899
1,618

569
46
365
34

284

655
1,051
2,415

2, 289
865
3,638
370
115
70
285

Total Pacific States..
Alaska (nonmember banks)
The Territory of Hawaii (nonmember
banks)
._.....___..

31,083

7,632

23,199

1,014

358

212

30

Total (nonmember banks).

755

100
758

14,914
9,725
27,718
7,072
1,215
2,425
4,305
67,372
1,033

450

2,031

755

662

30

Total country banks

,

366,651 I 164,086

473,834

50,308 i 23,408

Total United States..

,

879,698 i 754,537

679, 281

1,615

214,046

252

56,158

789

27,699
18,102
15,829
13,431
8,770
16,642
14,139
6,911
4.037
47,830
9,658
17,487
13,511

50,641
35,084
65,900
22, 707
25,749
26,860
26,160
12,005

Washington.
Oregon
California...
Idaho...
Utah........
Nevada
Arizona




79,331
67,790
153,025
2,146
7,562

205,996

60,972

3,064
1,673

1,079,960

15, 694

2,596,178

38

BEPORT OF THE COMPTROLLER OF THE CURRENCY
INVESTMENTS OF NATIONAL BANKS

The total investments by national banking associations on June
30,1927, in United States Government and other miscellaneous bonds
and securities aggregated $6,393,218,000, which was an increase of
$550,965,000 since June 30, 1926.
State, county, or other municipal bonds show an increase of
$95,738,000, railroad bonds an increase of $25,303,000, and other
public-service corporation bonds an increase of $103,731,000.
Foreign government bonds were greater by $11,983,000, miscellaneous foreign bonds and securities increased $42,379,000, and
stock in the Federal reserve banks was increased $3,175,000.
The table following discloses, by reserve cities and States, a classification of miscellaneous securities held by national banks, together
with a total of United States Government securities, June 30, 1926
and 1927:
[In thousands of dollars]
June 30,
1926
Domestic securities:
$,
State, county, or other municipal bonds
Railroad bonds—
Other public-service corporation bonds
All other bonds
Claims, warrants, judgments, etc
Collateral trust and other corporation notes.
Foreign government bonds
Other foreign bonds and securities
Stock, Federal reserve banks
Stocks, all other
Total.
United States Government securities
Total bonds of all classes




June 30,
1927

647,801
631,387
545,036
772,789
79,423
154,797
225,871
146, 548
78,735
90,598

743,539
656, 690
648,767
910,694
80,140
155,976
237,854
188,927
81,910
92,543

3,372,985

3,797,040
2,596,178

5,842, 253

6,393,218

United States Government, domestic, and foreign bonds, securities, etc., owned by national banks June 80, 1927
[In thousands of dollars]

Foreign government bonds

Domestic securities

to
oo

Cities, States, and Territories

State,
United
States county,
Governor
ment
municsecuriipal
ties
bonds

Railroad
bonds

Other
publicservice
corporation
bonds

Stock Stock Claims,
All
of
war- Judgother Federal of other rants, ments
corpobonds reserve rations etc.
bank

Bonds
Collat- of Ruseral
sian,
trust
Gerand
man,
other
and
corpo- Ausration trian
notes Governments

Bonds
of
other
foreign
governments

Other
Total
foreign bonds,
bonds stocks,
and securities, securities,
includetc.,
ing
other
those
than
of
munici- United
States
palities

Total
all
bonds
and
securities

CENTRAL RESERVE CITIES

New York
Chicago
Total, central reserve cities

524,802
__| 70,995

85,497
19,791

5,430

32,125
13, 021

86,350
10,311

14,631
2,896

595, 797

105,288

104,244

45,146

96,661

69, 256
5,549
4,626
2,177
44,090
104,144
21,899
18. 753
' 3,299
13, 903
147
17,661
3,649
4,119
22,730
3,116
8,735
5,187
13,162
8,080
3, 264

6,970
6,707
1,667
192
20,798
3,238
5,125
886
2,094
1,772
112
10, 222
796
163
1,853
197
2,868
419
2,000
246
152

8,353
802
4,691
561
20,496
31,204
2,550
2,014
1,386
735

14,491
1,131
3,727
878
18,678
15, 694
2,428
2,921
152
782
36
264
312

14,854
4,037
3,424
2,087
11, 778
36, 665
7,891
5,436
1,553
3,298
862
2,901
487
407
2,666
525
865
1,134
3,911
390
699

17,385
2,016

184
2,084

36,654
3,601

1,793
522

22,694
2,911

17, 358
2,770

413,485
65,339

938, 287
136,334

17,527

19,401

2,248

40,255

2,315

25,605

20,128

478,824

1,074, 621

2,558
210
340
75
3,153
1,864
709
542
342
315
165
188
151
144
494
66
210
88
384
195
63

18, 232
2,154
319

172

2,028
2,314
627
372
598
506
334
23
226
167
159
220
224
15
1,053
21
4

1,532
147
31
1
3
13

6,342
368
465
15
16, 824
13,481
645
776
49
19

685
18
5
17
123
469
211
2

4,029
237
678
222
5,393
3,118
2,050
316
43

f

OTHER RESERVE CITIES

Boston
-Albany..
Brooklyn and Bronx.
Buffalo
Philadelphia
Pittsburgh
Baltimore--.
Washington
Richmond
Atlanta
Savannah
Jacksonville
Birmingham
New Orleans
Dallas
El Paso
Fort Worth
Galveston
Houston.
San Antonio
Waco-




678
14
190
196
1,292
88
167

371
74
115
182
865
70
40

23
106
40
993
23
13
3
121
5

233
433
42
19

12

47
90
253
15

184
48

1,138
718
928
1,972
3,488
667
344
29
267
125
45

104

79

10

"16"

376
130
438
10
24

71
556
10
33

85,894
16,802
16,036
4,984
102, 790
111, 734
22,950
13,610
6,249
7,995
1,643
14,769
3,443
937
5,985
2,290
4,738
2,344
10, 767
1,166
1,187

155,150
22, 351
20, 662
7,161
146, 880
215, 878
44,849
32,363
9,548
21,898
1,790
32,430
7,092
5,056
28, 715
5,406
13,473
7, 531
23,929
9.246
4,451

United States Government, domestic, and foreign bonds, securities^ etc., owned by national banks June 80, 1927—Continued
[In thousands of dollars]
Foreign government bonds

Domestic securities

United State,
States county,
Governor
ment
municsecuriipal
ties
bonds

Cities, States, and Territories

Railroad
bonds

Other
publicservice
corporation
bonds

Stock Stock Claims,
of
All
war- Judgother Federal of other rants, ments
corpobonds reserve rations etc.
bank

Collateral
trust
and
other
corporation
notes

Bonds
of Russian,
German,
and
Austrian
Governments

Bonds
of
other
foreign
governments

Other
Total
foreign bonds,
bonds stocks,
and securities, securities,
includetc.,
ing
other
those
than
of
munici- United
States
palities

Total
all
bonds
and
securities

OTHER RESERVE CITIES—continued

Little Rock
„
Louisville
.
Memphis
Nashville
Cincinnati—..„
Cleveland.Columbus
Toledo
Indianapolis
Chicago
Peoria
Detroit_
Grand Rapids
Milwaukee. Minneapolis
St. Paul
Cedar Rapids
Des Moines...
Dubuque
Sioux City
_
Kansas Citv, Mo. _ „
St. Joseph
Stc Louis
Lincoln
Omaha
Kansas City, Kans
Topeka. _
Wichita,. .„_
„

.

„.

.

_
__

_.

.
__ _

.




. _ _
„

_. .

116
21,876
1.045
2,921
11, 721
14,352
9,982
3,550
8, 516
10,318
5,135
22,561
1,820
14,201
31,422
21,942
1,703
4,606
1,664
2,658
14,912
1,410
28,283
1,185
4,189
1,399
3,727
1,253

352
965
280
5,358
4, 043
3,919
269
1,483
7,281
1,147
4, 963
138
2, 015
6,464
749
1,254
1,173
1,365
465
7,162
34
11,075
223
3, 991
762
2,775
6,715

3,327

1,920

431
1,641
804
1,761
366
477
3,615
619
863
67
1,274
7,790
4,901
413
401
230
503
1,583
64
9,636
262
3, 054
18
102

680
2,313
1,903
1,390
159
1,310
6,279
1,013
426
138
2,683
2,016
766
2,044
309
610
519
534
10
5,951
153
2S190
47
3

85
3,358
167
603
3,015
5,535
4,868
519
1,560
5,940
1,637
2,417
950
3,518
6,080
1,373
1,092
1,600
1,116
1,087
2,292
598
6,349
1, 037
1,701
70S
502
250

15
271
54
224
402
235
338
60
324
233
172
645
86
471
573
282
30
117
30
83
312
61
1,184
71
234
39
55
111

175
218
28
168
45
787
919
11
291
54
970
242
38
49
620
132
2,442
9
1,229
65
i

208

1,243
4
179

290
34
177
58
14
125
519
201

110
2,236
635
535
366
23
1,210

16
494
76
51

1,605
200
76

3
708
19
6
53
93
49
372
84

97

30

33

85

316

15
60
3
15

329
202
452
2,019
124
860
77
212
871
360
315
37
370
3,235
197
3
74

97
294
34

390
308
523
2,980
349

23
7

10

248
1

245
55

4,320
50

14
54

9
238

30
103

202
35
1,187
1,202
608
155
1,086
1,269
13
1,188
86
475
1,375
1,075
266
33
91
38
753

437

2,091
64
862

58
14

40
12

100
11,542
1,392
3,228
18,693
14,725
14,378
1,971
8,009
27,874
5,378
12,766
1,934
11,901
28,195
9,841
5,154
4,655
3,486
3,401
15,444
1,410
45,479
2,882
12,671
1,576
3,984
7,106

216
33,418
2,437
6,149
30,414
29,077
24,360
5,521
16,525
38,192
10,513
35,327
3,754
26,102
59,617
31,783
6,857
9,261
5,150
6,059
30,356
2,820
73,762
4,067
16,860
2,975
7,711
8,359

Helena
_.
„_.....„....
Denver..__.____._._.._
......—
Pueblo
.... .
_
'
,__
Muskogee
_
---Oklahoma City
-.„..
Tulsa
Seattle—

I....._._.—
—_-._.—.

Spokane
•
Portland
.
.
Los Angeles
.._
Oakland
San Francisco—
_
Ogden
Salt Lake City...
Total other reserve cities....

1,230
22,337
1, 629
4, 509
11,126
8, 394
22, 798
3,548
20? 579
30,809
4,290
159,598

141
3,113

9,917
1,191
' 667
7,462
1,119
3,642
616
8, 794
17,355
3, 709
41,658
90
1,039

105
1, 252
79
250
588
414
1.756
'481
2,637
803

7S0

140
563
6, 204
2,297
801
1, 969
0,
280
10,711
333
1,052

2,414
17
256

70
495
83
29
295
89
352
478
3,402
464
26
1,055
104

1,050
24,232
4,154
1.206
10, 995
9,271
15,343
4,327
22,396
29, 613
4,279
75,466
981
4,321

2,280
46,569
5, 783
5,715
22,121
17,665
38,141
7,873
42,975
60,422
8,569
235,064
1,927

Total all reserve cities
COUNTRY BANKS

Maine
..
New Hampshire..
Vermont.
Massachusetts
Rhode Island _.
Connecticut

10,931 j
10,957 |
5,397
46,457
6,159
27,182

Total New England States.
New York

13, 966
4,440
5, 293
38, 373
2,511
31,041

422
310
248
1,603
295
1,244

253
128
124
2,460
100
471

60
39
156
112
109

48,041

99,444

75, 624

4,122

3, 536

476

3,201
2, 759
6,873
113
378

1,844
1,987
4, 220
78
200

13,324

Total Eastern States-

27, 699
18,102
15,829
13,431
8,770
16, 642
14,139
6,911
4,037
47,830
9,658
17, 4S7
13, 511
.—_.j

69,804
26,955
26,180
179,532
22,053
79,492

8,329

67, 790
153, 025
2,146
7,562

Virginia
West Virginia...
North CarolinaSouth Carolina..
Georgia
Florida
Alabama
Mississippi
Louisiana..
Texas.
Arkansas. _..___.
Kentucky.......
Tennessee.......

4

3,125
434
1,059
5,271
1,148
1,381

996
1,035 1
932 I

79, 331

New Jersey..
PennsylvaniaDelaware
Maryland




20,219
5,874
6,513
45,537
8,028
13,273

35,414 92, 069 91,919 90, 545
34, 911 62, 291 47,005 50,248
31,830 128,089 107, 911 142,148
796
1,739
1,931
1,501
2,652
8,476 11,316
5,967

107, 083

12, 930

7,434
2,301
3,395
19, 457
2,158
13,296

309, 854 105, 603 289, 917 257,242 295,996

.._._..

Total Southern States

4,222
441
211
5. 034
555
2,417 |

3,661
1,011
2,512
3,575
509
15,919
6,387
9,014
1,564
5,193
4,005
2,180
1,967

1,311
2,074
68
410
300
1,951
2,646
402
91
1,253
193
2. 743
'344

1,726
3,132
109
1,005
350
1,780
1,576
552
81
1,351
140
3,417
520

6,955
8,010
1,506
4,003
876
4,723
4.052
2,022
525
5,086
1,574
5,888
2, 600

214,046 j 57,497 | 13,786 j 15,739 j 47,820

1,265
761
739

12, 468

47,466
37,576
21,225
24,410
12, 755
45,940
32,535
21,487
7,432
67,742
17,566
36, 757
22,289

United States Government, domestic, and foreign bonds, securities, etc., owned by national banks June SO, 1927—Continued

to

[In thousands of dollars]
Foreign government bonds

Domestic securities

United
State,
States county,
or
Governmunicment
ipal
securibonds
ties

Cities, States, and Territories

Kailroad
bonds

Other
publicservice
corporation
bonds

All
other
bonds

Stock
of
Federal
reserve
bank

Stock Claims,
of other warJudgcorpo- rants, ments
rations
etc.

Bonds
Collat- of Ruseral
sian,
trust
Gerand
man,
other
and
corpoAusration
trian
notes Governments

Other
foreign
bonds
and securities,
Bonds includof
ing
other
those
foreign
of
govern- municiments palities

Total
bonds,
stocks,
securities,
etc.,
other
than
United
States

Total
all
bonds
and
securities

COUNTRY BANKS—continued
•
Ohio _ - .
Indiana
Illinois..
Michigan
Wisconsin
Minnesota .
Iowa
Missouri

_

Total Middle Western States....
North Dakota
South Dakota
Nebraska
Kansas
Montana—
Wyoming
Colorado
New Mexico
Oklahoma
Total Western States
Washington..
Oregon
California
Idaho
Utah

•
_




10,603
8,178
9,456
6,507
5,955
7,179
2,191
696

8,721
13,784
18,309
14, 021
17,461
8,544
6,249
1,641

29,920
13,504
26, 826
24,433
21, 032
17,420
8,863
3,052

2,110
1,163
1,864
821
819
869
812
333

1,023
417
1,123
381
515
234
912
118

281
404
7, 550
403
287
7, 537
2,231
416

167
346
1,421
44
116
206
544
22

1,328
2,187
3,727
1,058
2,709
879
289
37

319
145
458
140
305
138
71
41

8,121
3,268
4,435
5,203
3,475
4,035
2,023
692

7,072
3,688
5,539
3,748
2,510
3,088
926
191

102,633
54,541
107, 619
80,333
66, 716
65,683
28,738
11,371

153,274
89,625
173,519
103, 010
92,465
92,543
54,898
23,376

265,106

125, 755

50,765

88,730

145, 050

8,791

4,723

19,109

2,866

12, 214

1,617

31,252

26,762

517,634

782,740

2,002
2,673
1,288
10,384
2,311
1,174
4,164
512
16, 076

917
530
665
450
1,220
406
1,049
320
407

2,180
1,064
948
775
1,705
511
2,281
102
741

3,582
3,164
1,358
2,590
2,314
1,537
4,768
1,469
2,883

261
208
371
626
217
128
320
93
606

208
50
67
330
157
50
660
70
482

1, 605
1,683
942
2,417
1,733
750
1,779
81
6,821

82
93
138
137
144
38
19
50
310

5
20
118
97
95
1
308

27
17
25
15

727
272
440
207
305
220
457
22
492

13,222
10,199
'
7,056
18,767
11,150
4,938
16,341
2,777
29,871

23,203
20,491
17,891
37,056
21,376
10,809
26,685
8 943
61,302

113,435

_.

_ _.

32,968
7,457
26, 911
23, 574
11, 532
15, 554
3, 627
4,132

9,981
10, 292
10,835
18,289
10,226
5,871
10,344
6,166
31,431

_

50,641
35, 084
65, 900
22, 707
25, 749
26,860
26,160
12,005

40,584

5,964

10,307

23,665

2,828

2,074

17, 811

14,914
9,725
27,716
7,072
1,215

9,162
5,979
33,195
2,325
210

3,328
505
1,593
117
18

3,803
1,208
9,267
518
118

7,512
2,283
11,790
1,179
210

403
293
1,035
153
36

168
100
1,102
256
6

1,642
2,290
801
1,830
25

111

14
5
5

1,626
427
696
739
949
123
522
53
937

1,011

755

108

6,072

3,142

114,321

227,756

30
40
35
52
5

456
87
278
24

28
4
10
16

2,107
1,071
795
294
15

2,112
542
1,130
75
10

30,751
14,402
61,031
6,839
653

45, 665
24,127
88,747
13,911
1,868

Nevada
Arizona

„.

>..

*.

._-_,

Total Pacific States
Al aska (nonmember banks)
The Territory of Hawaii (nonmember
banks)
Total (nomrmrnhpr hanlcs)

2,425
4,305

1,217
661

116
69

131
103

343
770

62
70

134
104

13
801

21
52

20

10

192
10

106
27

2,365
2,667

4,79C
6,972

67,372

52,749

5,746

15,148

24, 087

2,052

1,870

7,402

235

865

68

4,484

4,002

118,70S

186,080

1,033

59

90

69

302

1

6

63

7

• 618

1,651

2,031

916

1,496

3,527

442

21

138

3,064

975

90

69

744

1

144

2,114

5,178

Total country banks

1,079,960

396, 093

414,309

486,679

612, 986

40,406

27, 629

56, 730

6,994

61, 025

6,147

156, 550

127,546 2,393, 094

3,473,054

Total United States

2, 596,178

743,539

656,690

648,767

910,694

81,910

92, 543

72,454

7,686

155,976

12,188

225,666

188,927 3,797,040

s
s

8, 393, 218




21

63

7

2

CO

44

REPORT OF THE COMPTROLLER OF THE CURRENCY
SAVINGS DEPOSITORS AND DEPOSITS I N NATIONAL BANKS

Savings deposits reported by national banking associations on June
30, 1927, aggregated $5,875,670,000, an increase in savings of
$912,806,000 over June 30, 1926. Of the total number of banks
reporting savings, 4,600 maintained separate savings departments,
and according to the returns from all reporting national banks there
were 14,340,687 sayings depositors. The average rate of interest
paid on these deposits was 3.68 per cent, as compared with 3.63 per
cent the year previous.
The number of banks in reserve cities and States reporting savings,
the number maintaining separate savings departments, the number
of depositors and amount of savings deposits, together with the rate
of interest paid, is shown in the following table:
Savings depositors and deposits in national banks June 30, 1927
Number

Number of banks
mainof banks taining
reporting separate
savings
deposits savings
depart-

Number
of savings
depositors

Amount of Average
savings
rate of
deposits
interest
(000
paid
omitted)

ments

CENTRAL RESERVE CITIES

New York

__.

595,374
62,737

20

Chicago
Total central reserve cities
OTHER RESERVE CITIES
Boston--Albany
Brooklyn and Bronx
Buffalo
_
Philadelphia
_
Pittsburgh
Baltimore...
Washington.
....„
Richmond
Atlanta
Savannah
Jacksonville
_
,
Birmingham
New Orleans-Dallas
,
El Paso
_
Fort W o r t h . - . . . — .
,
Galveston
Houston—
San Antonio
Waco
Little Rock..
Louisvi le
Memphis
Nashville
Cincinnati
Cleveland...
Columbus..Toledo
Indianapolis
,
Chicago
Peoria
Detroit
Grand Rapids
Milwaukee
Minneapolis
St, Paul
Cedar Rapids
_.
Des Moines
Dubuque
Sioux City
Kansas City, Mo




28

21

$216,116
14,424

Per cent
3.37
3.00

658, 111

230,540

3.19

247,383
9,581
39, 291
36, 287
179, 213
90,332
41,080
90, 531
60,314
112,143
60? 264
66, 539
34,933
127
30, 974
13,436
29,860
19,863
63,144
7,958
8,304
1,980
65,263
13,449
42,765
31,388
71,083
31,074
4f821
24,902
247,954
26,946
12,935
36,045
111, 085
137,755
56,249
18,873
8,756
8,759
24,690
32,121

119,989
9,176
10,410
11.457
78, 587
70,150
26,124
39, 252
19,410
29,878
20,691
28,024
14,777
1,868
16,292
4,924
11,334
12,618
30,231
6,537
5,645
873
26.458
4,374
17,130
16,726
32,908
9,446
3,450
7,358
48,362
5,705
37,103
12,941
31,869
43,845
25,905
8,134
1,854
4,742
4,847
6,008

3.72
3.75
3.83
3.83
3.80
4.00
3.90
3.13
3.00
3.25
4.17
3.75
4.00
2,75
4.00
3.00
4.00
4,00
4.00
4.00
4.00
4.00
3.63
3.00
3.75
4.00
4.00
3.00
3.50
3. 63
3.00
3.00
3.00
3.00
2.85
3.50
3.25
3.50
3.50
3.50
3.50
3.00

REPORT OF THE COMPTROLLER OF THE CURRENCY

45

Savings depositors and deposits in national hanks June 80, 1927—Continued
Number
of banks
Number
mainof banks
taining
reporting
separate
savings
deposits savings
departments

Number
of savings
depositors

Amount of
savings
deposits
(000
omitted)

3
10
4
5
2
3
4
1
6
1
2
6
6
7
4
3
3
1
3
1
2

10,349
194,512
20,966
71,110
6,278
3,146
13,689
2,562
98,858
5,795
3,696
27,762
27,555
81, 246
33,538
103,941
162, 503
5,737
834,175
2,349
19,440

$5,524
53,356
3,823
8,647
1,612
369
4,836
1,435
43,244
3,543
1,649
7,268
16,109
28, 848
14,082
48,995
109,101
2,454
366,332
1,048
5,314

337

291

3,979, 637

1,645,001

3.58

365

312

4,637,748

1,875,541

3.39

53
20
39
112
5
44

46
16
30
105
5
35

187,842
43, 775
73,785
453, 620
14, 813
173,034

91,264
15, 520
33,932
192,837
12,507
79,325

3.96
3.68
4,08
3.86
4.25
4.32

Average
rate of
interest
paid

OTHER R E S E R V E CITIES—continued

St Joseph
--„-St Louis
Lincoln
- _ _ . _ _
Omaha
BTansf'S City, Elans _ .
Topeka .
_ .
Wichita
Helena
- - - Dfnver
_.
,_„_
Pueblo
Muskogee _- "
- - . _
Oklahoma City
Tulsa
.
.
.
Seattle
Sp°kaiie
. . ~
Portland
_._,
Los Angeles - Oakland
. „
.__.._
-. - - . ----San Francisco
Salt Lake City

„

-

.

...-...-

Total other reserve cities

__

Total all reserve cities

_._.

4
11
5
7
2
3
4
1
6
2
3
6
6
8
4
5
10
2
4
1
4

Per cent
3.00
3.09
4.00
3.18
3.00
3.00
4.00
4,00
3.54
4.00
4.00
4.00
3.92
3.06
3.70
3.60
3.50
4.00
3.94
4.00
4.00

COUNTRY BANKS
MninB
New Hampshire
Vermont
Massachusetts
Ehode Island
Connecticut

_.
„

__..._,

___».

.__
__._

Total New England States
New York.
.
Now Jersev
Pennsylvania
Delaware _ . . _ .
Maryland

-

273

..„

._
»
.__

Total Eastern States
Virginia.West Virginia . North Carolina
South Carolina.
Georgia
Florida._-__
Alabama
Mississippi..
Louisiana...
Texas . . _ . _ . . . . _ _
Kentucky
Tennessee

—

....
„

„

__ _
__. . . .

..
.

.

_„

. .

. .... _ _
_

Total Southern States
Ohio
Indiana....Illinois
Michigan
.
Wisconsin .
Minnesota . . . _ .
Iowa.
Missouri

...

_.
_ _

Total Middle Western States „




237

946,869

425,385

4.03

399
254
576
12
61

1,083, 354
896,341
1,767,408
11,633
115,548

560,128
395, 200
811,161
8,539
66, 572

3,92
3.77
3.85
4.00
3.82

1,302

3,874, 284

1,841,600

3.87

161
117
73
62
68
58
82
27
26
186
57
105
86

120
86
49
51
44
47
60
15
20
98
35
72
53

278, 242
176, 711
142, 220
86,994
69,732
103,376
111, 841
49,875
35,751
79,411
44,511
97,891
113,700

120,721
64.658
45, 789
44, 532
22,890
45,722
42,976
21, 937
16,952
34,364
22, 567
46, 675
45,554

3.73
3.79
4.00
4.30
4.14
4.08
3.99
3.94
3.89
3.95
3.95
3.66
3.82

1,108

__ . . _ .

488
290
809
17
72
1,676

»

750

1,390, 261

575,337

3.94

290
198
410
126
147
258
233
85

207
149
244
88
94
258
129
41

513, 296
279, 763
52G, 266
411, 723
369, 430
270,141
158, 875
64, 247

160, 803
95,833
167, 537
147, 974
111,027
79, 688
53, 621
17,465

3.83
3.70
3.46
3.34
3.28
3.84
4.01
6.92

1,747

1,210

2, 593, 741

833,948

4.05

46'

REPORT OF THE COMPTROLLER OF THE CURRENCY

Savings depositors and deposits in national banks June 80} 1927—Continued

Number
of banks
reporting
savings
deposits

Number
of banks
Amount of Average
mainNumber
taining of savings savings
rate of
separate depositors deposits interest
(000
savings
paid
omitted)
departments

COUNTRY BANKS—continued

North Dakota
South D a k o t a . .
Nebraska
Kansas-.
Montana
Wyoming .
Colorado.--- . .
New Mexico
Oklahoma

-

$19,178
10,547
11,166
23,305
20,549
10,098
24,020
4,252
16,842

Per cent
4.11
4.09
4.11
3.71
4.38
3.98
3.96
4.19
3.99

.

215

112

60,681
38,359
65,668
80,321
41,417
22,473
61,975
12,195
51, 538

Total Western States

921

542

434, 627

139, 957

4.06

96

52

78
194
51

51
97
24

41,895
20,119
92, 512
11,168
3,904
6,810
6,044

3.89
3.64
3.97
3.93
4.10
4.00
4.08

Washington
Oregon .
California
Idaho
Utah
Nevada
Arizona

113

._
>..__

.
.
- _

49
63
107
42
15
75
15

8
13

Total Pacific States

Total (nonmember banks)

„_

5
10
244

459,380

182,452

3.94

3
1

_

121,132
65, 783
199, 600
34,983
15,387
7,493
14,942

454

-. -' .
_

Alaska (nonmember banks) _
_
The Territory of Hawaii (nonmember banks)

2
1

2,017
1,760

1,099
351

3.67
4.00

14

.

4

3

3,777

1,450

3.84

6,183

Total country banks
Total United States

64

90
102
181
62
25
107
26

4,288

9,702,939

4,000,129

3.96

6,548

4,600

14,340, 687

5,875, 670

3.68

PER CAPITA INDIVIDUAL AND SAVINGS DEPOSITS I N ALL REPORTING BANKS

The total individual deposits in all reporting banks in the continental United States, Alaska, and insular possessions on June 30,
1927, were $51,132,554,000, of which amount $26,032,001,000 were
savings deposits.
The per capita individual deposits based on an approximate population of 129,804,000 were $393.92, and the per capita savings deposits
were $200.55. The increase in the per capita savings deposits is due
in part to the inclusion of time certificates of deposits with other
savings, which have not heretofore been so included.
Statement showing the population, amount of individual deposits,
per capita individual deposits, amount of savings deposits, and per
capita savings deposits reported by all banks in each State, the District of Columbia, Alaska, and the insular possessions follows:




REPORT OF THE COMPTROLLER OF THE CURRENCY

47

Per capita individual and savings deposits in all reporting banks June 80, 1927
Population
(approximate)

States and Territories

784,000
456,000
356,000
4,225,000
675,000
1, 596, 000

Maine
New Hampshire..
Vermont
Massachusetts
Rhode Island
Connecticut......
Total New England States.

Per
capita individual
deposits

Savings
deposits 2

$381,030,000
253, 295,000
221,758,000
4,073, 262,000
493,105,000
1,100,935,000

$486.01
555.47
622. 92
964.09
730. 53
689.81

$297,908,000
213,218,000
193,126,000
2,443,879, 000
349,640,000
794,513,000

6, 523, 385, 000

Per
capita
savings
deposits

467.68
542.49
578.43
517.99
497.82

806.15

4,292,284,000

530.44

11, 600,000
3, 770,000
9, 500, 000
240,000
1, 615,000
510,000

13,374, 564,000 1,152.97
564. 23
2,127,163,000
495. 46
4,706,824,000
481.00
115,441,000
449. 95
726,664,000
465. 34
237,324,000

6, 523,446,000
1,223,172, 000
2, 532,232,000
55,984,000
435, 557,000
90,438,000

562.37
324.45
266.55
233.27
269.69
177.33

27, 235,000

21, 287, 980, 000

2, 495,000
1, 620, 000
2,880, 000
1,825, 000
3,100, 000
1, 265, 000
2, 500, 000
1, 793, 000
1, 910,000
5, 220, 000
1,880, 000
2, 515,000
2,450,000

451,823, 000
342,850, 000
356, 767, 000
174, 798,000
314,406, 000
417, 609, 000
256. 599, 000
216; 735, 000
369, 023, 000
902, 229, 000
197, 584, 0C0
3 424,406, 000
385,078,000

31,453,000

8,092,000

New York
.
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia.

Total Eastern States..
Virginia . *. „
West Virginia._.
North Carolina..
South Carolina..
Georgia
Florida
-...-.
Alabama
Mississippi
Louisiana.
_
Texas
Arkansas .„__.
Kentucky
Tennessee
..
Total Southern S t a t e s . . .

Individual
deposits1

..

Ohio
Indiana
Illinois
„.
Michigan
Wisconsin...
Minnesota...
Iowa....
Missouri
Total Middle Western States..
North Dakota..
South D a k o t a . .
Nebraska....
Kansas
.-_.
Montana
...
Wyoming
Colorado
New Mexico
Oklahoma
Total Western StatesWashington .
Oregon. „
California...
Idaho
Utah
Nevada
Arizona
Total Pacific States..
Alaska.
The Territory of Hawaii..
Porto Rico
Philippines

781. 64 10,860,829,000 |

398.78

181.09
211. 64
123.88
95.78
101. 42
330.13
102. 64
120. 88
193. 21
172.84
105.10
168. 75
157.17

243, 655,000
161, 642,000
156, 586, 000
91,366,000
139,029,000
159,889, 000
105, 408,000
97,198, 000
129,241, 000
183, 624,000
72, 776,000
s 90,142, 000
171, 734,000

97.66
99.78
54.37
50.06
44.85
126.39
42.16
54.21
67.67
35.18
38.71
35.84
70.10

4,809,907, 000

152. 92

1,802,290,000 |

57.30

2, 537,421,000
823, 327, 000
3,422, 618,000
1, 784,456,000
881,151, 000
890, 043, 000
814, 568, 000
1,147,696,000

392. 79
263. 04
477. 02
412. 59
301. 76
336. 50
322. 60
331. 23

1,404,126, 000
296, 500, 000
1,452,879, 000
1,000, 518,000
510,846, 000
521,882, 000
486,858,000
394, 292, 000

217.36
94.73
202.49
231.33
174.95
197.31
192.82
113. 79

32, 645, 000 12, 301, 280, 000

6,460,000
3,130,000
7,175, 000
4, 325, 000
2,920,000
2, 645, 000
2, 525, 000
3,465,000

376.82

6,067,901,000

185.88

667, 000
690, 000
1, 375, 000
1,840, 000
680, 000
228, 000
1,048, 000
390, COO
2, 332,000

134, 989, 000
128, 615, 000
411,846,000
406, 741, 000
139,432, COO
54,899,000
270, 946,000
33,413,000
407,996, 000

202. 38
186. 40
299. 52
221. 05
205. 05
240.79
258. 54
85.67
174. 96

78,928, 000
63, 005, 000
198, 703, 000
120, 292,000
57, 615, 000
21,408, 000
105, 376, 000
7, 582, 000
72, 988, 000

118.33
91.31
144.61
65. 38
84.73
93.89
100. 55
19.44
31.30

9, 250, 000

1, 988,877,000

215.01

725,897, 000

78.48

1, 530, 000
860,000
4,350, 000
507, 000
509. 000
78; 000
434, 000

414,675,000
263, 087,000
3,043, 928,000
78,413, 000
119,877,000
37, 052,000
69,005,000

271. 03
305. 92
699. 75
154.66
235. 51
475. 03
159.00

194, 714, 000
113, 541, 000
1, 764, 752, 000
28,140, 000
66,038, 000
19, 587,000
26, 289,000

127. 26
132.02
405. 69
55.50
129. 74
251.12
60. 57

8, 268,000

4,026,037,000

2,213,061,000 |

267. 67

91, 000
300, 000
1,370,000
11,100, 000

11, 653, 000
79, 214, 000
37, 990, 000
66, 231,000

6.94
128. 05
264. 05
27.73
5.97

4, 544, 000
34,470, 000
13, 388, 000
17,337, 000

49.93
114. 90
9.77
1.56

Total Alaska and insular possessions

12,861,000

195,088,000

15.17

69,739,000

5.42

Total United States, Alaska,
and insular possessions

129,804,000

51,132, 554,000

393.92

26,032,001,000

200.55

* Include dividends unpaid and postal savings.
8 Include time certificates of deposit, but not postal savings.

Digitized for 8FRASER
Estimated.


48

REPORT OF THE COMPTROLLER OF THE CURRENCY
EARNINGS, EXPENSES, AND DIVIDENDS OF NATIONAL BANKS

In the year ended June 30, 1927, the gross earnings of 7,796 reportIng national banks aggregated $1,243,043,000, and showed an increase
of $50,825,000 over the gross earnings in the year ended June 30,1926.
Interest and discount collected was $1,076,715,000, or $29,723,000
more than in the previous year. The total expenses of these banks
in the current year amounted to $882,374,000, showing an increase
in the 12-month period of $40,708,000. The major items of expense
were interest paid on deposits, $408,342,000, and salaries and wages,
$243,246,000, exceeding by $20,394,000 and $13,382,000, respectively,
the interest and salaries paid in the year ended June 30, 1926.
Deducting from the gross earnings above referred to the total
expenses also mentioned, national banks during the year showed net
earnings of $360,669,000, which amount was $10,117,000 more than
in the previous year. In addition to net earnings recoveries of
$33,339,000 were made on assets previously charged off, making a
total of $394,008,000 in net earnings and recoveries during the year,
compared with $394,557,000 in the year previous.
From the total of net earnings and recoveries were deducted losses
and depreciation charged off in the sum of $141,689,000, resulting
in a net addition to profits in the year of $252,319,000, which amount
was $3,152,000 more than the net addition to profits reported in the
previous 12 months,
Dividends in the sum of $180,753,000 were declared in the year
and exceeded by $7,000,000 the total dividends declared by 7,978
reporting national banks in the year ended June 30, 1926.
A comparative statement of the earnings, expenses, and dividends
of national banks for fiscal years ended June 30, 1926 and 1927, and
statements showing the capital, surplus, and the earnings, expenses,
eV5., of these associations in reserve cities and States and Federal
reserve districts June 30, 1927, follow. (Similar tables for the sixmonth periods ended December 31, 1926, and June 30, 1927, are
published in the appendix of this report.




KEPORT OF THE COMPTROLLER OF THE CURRENCY

49

Earnings, expenses, and dividends of national banks for the fiscal years ended June
SO, 1926 and 1927
[In thousands of dollars]
June 30, 1926 June 30, 1927
(7,978 banks) (7,796 banks)
Capital s t o c k . . .
Total surplus fund
Dividends declared

....
.
—
— —
— — — _ — . _ _ _ —
„.._..,
— — _

I
I
j

1,412,872
1,198, 899
173,753

Gross earnings:
Interest and discount on loans
— _
— — .
———.
Interest (including dividends) on investments,
_
-interest on balances with other b a n k s . . . .
_.__.
.._.___
Interest not classified
. __„_.__„_—_.__.,...
Domestic exchange and collection charges
Foreign exchange department
_.
Commissions and earnings from insurance premiums and the negotiation
of real-estate loans
_
—....
Trust department
_..
Profits on securities s o l d . . . . . . . . . . .
Other e a r n i n g s . . . — . . — . —
„_„._..
Total
Expenses paid:
Salaries and wages.
Interest and discount on borrowed money,.
Interest on bank deposits
_....
Interest on demand deposits
Interest on time deposits
Interest not classified
-.
Taxes.
_...
...
Other expenses
Total

_ —

Net earnings during the year
Recoveries on charged-ofi assets:
Loans and discounts
Bonds, securities, etc
..
All other
Total

—

—

.

Losses and depreciation charged off:
On loans and discpunts
On bonds, securities, etc
On trust department operations
On banking house, furniture and fixtures..
On foreign exchange
Other losses.
Total

—_.

Net addition to profits during the year..
1
2
8
4

Includes interest and dividends on investments, and interest on balances with other banks
Includes interest on bank and other demand deposits.
Total amount of recoveries.
Includes charge-offs on banking house, furniture and fixtures.




1,474,173
1} 258,945
180,753

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1927
[In thousands of dollars]
Gross earnings

Location

Maine
New Hampshire
Vermont
„
Massachusetts
Boston
Rhode Island
Connecticut
Total New England
States
New York
Albany.
Brooklyn and Bronx..
Buffalo
New York City
New Jersey
Pennsylvania
Philadelphia
Pittsburgh
Delaware
Maryland
Baltimore.
Washington, D. C
Total Eastern States




Number of
banks

57
65
46
142
11
13
65

Capital

Surplus

Capital
and
surplus

1,829

14,212
10,262
8,358
52,780
94,280
9,825
41,695

124,640
511
2
15
3
23
291
823
32
13
19
74
10
13

50,900
4,870
21,702

6,442
4,862
3,248
23,892
43,380
4,955
19,993
106,772

231,412

55,440
2,750
6,584
1,310
212,500
47,037
89,590
32,950
28,950
1,759
5; 309
13,100
10,527

51,912
4,250
4,545
1,107
274,150
45,806
138,895
72,205
33,200
2,415
7,376
10,300
7,655

107,352
7,000
11,129
2,417

507,806 !

653,816

7,770
5,400
5,110

228,485
105,155
62,150
4,174
12,685
23,400
18,182

Interest
(includInterest ing diviand dis- dends)
counts
on
on loans investments

3,930

DoInterForest on Inter- mestic eign
exbalest change exances
not
and change
with classi- collec- departother
tion ment
banks
charges

3,499
1,260
1,146
8,698
6,750
937
3,589

94
58
31
254
1,338
28
175

8,914

25,879

30,210
2,446
2,555
939
101,011
27, 685
49,034
26,394
11, 505
658
3,619
5,457
5,166

24,236
991
832
252
43,932
15,534
30,559
6, 572
9,787
480
1,850
1,887
1,378
138,290

7,763

2,260
16,052
23,754
1,794
8,841

1,161,622 j 266,679

28

42
36
24
172
163
14
96

1,978

189

547

570
55
21
6
4,233
349
1,345
448
419
9
73
104
131

253

156
354
53
310

1,126

Commissions and
earnings
from insurance Trust Profits Other Total
on
premigross
ums and depart- securi- earn- earnings
ties
ment
ings
the negosold
tiation of
real
estate
loans

19
784

32
11
9
123
711

20

264

705
278
198
1,734
991
90
671

164
221
90
1,444
4,903
56
703

8,504
4,251
3,798
28,509
39,394
2,925
14,389

13
8
2
2,640
168
359
203
55
6
20
61
49
3,952

34

1,150

4,667

7,581

101,770

20

831

231
48
7
3,978
362
464
74
61
4
4
7
153

4,917
137
169
69
12,024
2,770
5,450
1,148
2,453
57
366
566
196

1,547
37
87
52
15,872
1,743
2,683
1,267
1,339
21
90
640

62,367
3,728
3,691
1,320
191,651
48,834
90,359
36,958
25,820
1,288
6,334
8,747
7,555

5,393

30,322

25,846

488,652

7,961
52
93
852
201

9,223

58

Virginia
Richmond
West Virginia..
North Carolina
South Carolina.._
Georgia
_
Atlanta
Savannah
Florida
."."
Jacksonville
Alabama
Birmingham
Mississippi
Louisiana
New Orleans
Texas
Dallas
El Paso
Fort Worth.
Galveston
Houston
San Antonio
Waco
Arkansas
Little Rock..
Kentucky
Louisville
Tennessee
Memphis
Nashville

„_„„
-

-

-

_____

Total Southern States
Ohio
Cincinnati
Cleveland
Columbus
Toledo
Indiana
Indianapolis
„
Illinois
Chicago, Cent. Res
Chicago, other Res
Peoria
Michigan
„
Detroit
Grand Rapids
Wisconsin
Milwaukee—
Minnesota
Minneapolis
St. Paul.




163
4
122
77
65
79
3
1
59
3
102
3
36
31
1
608
7
3
5
4
10
8
4
78
1
138
4
99
1
4

24,259
6,300
13,519
14,838
9,950
8,850
5,950
3,000
12,790
4,000
12,145
1,950
5,485
6,275
2,800
46,945
12,900
1,600
4,450
2,150
8,550
4,750
1,650
6,815
300
14,296
6,000
12,564
1,000
4,100

17,807
5,060
11,586
9,944
4,943
5,900
4,550
2,500
7,756
2,250
8,139
3,200
3,703
2,975
2,200
24,871
3,675
600
2,450
780
4,390
1,702
440
3,005
200
9,834
4,350
7,024
800
3,360

42,066
11,360
25,105
24, 782
14, 893
14, 750
10,500
5,500
20,546
6,250
20,284
5,150
9,188
9,250
5,000
71,816
16,575
2,200
6,900
2,930
12,940
6,452
2,090
9,820
500
24,130
10,350
19,588
1,800
7,460

1,723

260,181

159,994

420,175

325
5
3
6
1
229
4
451
12
23
4
129
3
2
149
7
267

39,155
8,100
4,800
5,500
500
24,795
7,650
37, 637
54,050
5,500
2,475
16,615
12,000
1,800
17,880
9,900
19,103
11,400
5,650

28,475
5,300
3,050
5,650
1,500
13,903
3,150
24,696
42,380
2,250
3,275
11,438
9,500
1,050
9.678
5,800
9,380
7,680
3,750

67,630
13,400
7,850
11,1502,000
38,698
10,800
62,333
96,430
7,750
5,750
28,053
21,500
2,850
27,558
15,700
28,483
19,080
9,400

12,309
3,109
7,928
7,405
5,059
4,332
3,472.
489
7,227
3,132
5,529
1,975
3,832
3,707
1,643
21,962
5,383
910
2,902
1,014
4,757
2,067
792
3,903
261
6,885
3,831
6,935
623
2,694

1,460
424
1,313
548
779
304
889
8
2,110
1,368
991
292
809
225
185
1,964
919
219
455
282
854
272
98
618
8
1,133
1,128
578
60
205

136,067 I 20,498
19,120
3,580
3,562
3,265
441
11,739
2,905
18, 774
31,463
2,314
987
9,561
7,378
1,423
9,100
5,354
9,544
6,085
3,210

6,365
1,717
1,460
917
235
3,453
554
6,240
5,437
1,885
472
3,912
1,558
135
3,833
1,095
3,087
2,348
1,571

284
50
239
199
231
102
370
7
529:
111
180
66
130
115
19
1,264
195
49
130
37
214
124
41
215
7
219
124
246
37
126

475
112
835
61
76
77

1
"762"

33
76

346

149
43
63
308
251
181
206
49
282
328
199
7
206
85
54
881
228
35
103
94
123
46
55
144
11
41
12
133
112
155

5,660 I 3,287

195
66
8
27
6
164
38
312
1,110
42
42
163
34
30
170
67
356
591
171

37
5
193
41
43
36
16
8

136
52
100
12
367
102
652
501
60
34
241
251
36
317
105
361
205
188

229

Ton'
642
241

"556"

129
28
227
34
134
32
16
2
208
242
165
123
132
26
23
195
112
44
14
56
105
12
73

14
54

15
11
10
1,732
14
6
48
5
6
15
2
116
26

51

24
"248"

187
166
70
11
4

948

2,570

130
56
180
80
38

4,584

384

109
80
44
53
56

943
237
656
291
82
621
127
832
134
332
89
609
66
7
525
99
314
334
119

99
230
6
6
216

491
204
586
979
436
221
331
18
653
199
323
187
236
413
444
1,251
457
64
445
52
713
382
92
243
12
418
135
850
123
121

15,424
3,941
10, 517
10,373
7,012
5,250
5,321
578
11,280
5,421
7,618
2,686
5,447
4,580
2,453
28,304
7,428
1,333
4,061
1,543
6,838
2,922
1,078
5,293
299
9,114
5,414
9,197
966
3,319

11,079 I

185,010

1,
406
478
281
306
4
758
759
1,565
1,
475
375
94
824
1,394
266
670
398
702
281
415

29,239
6,317
6,244
4,994
818
17,480
4,519
29,606
42,082
5,008
1,724
16,183
10,729
1,902
14,901
7,138
15,228
9,975
5.701

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June 50, 1927— Continued

Or

[ In thousands of dollars ]
Gross earnings

Location

Number of
banks

Iowa
.
_. .
275
2
Cedar Kapids
3
Des Moines
Dubugue
__„
,
2
5
PinTiX" * i t y
109
Missouri
10
Kansas City _
4
St. Joseph
12
St. Louis
•_.
, Total Middle Western
States
_. 2,052
North Dakota
141
98
South Dakota
141
Nebraska
5
Lincoln
7
Omaha. _
246
Kansas
„._
_
2
Kansas City
5
Topeka
4
Wichita
72
Montana. „„.._
Wvominsj
Colorado
Denver >
Pueblo
New Mexico

2
30
116

_„




6
2
29

Capital

17,515
1,100
2,700
700
2 050
7,495
7,050
1,100
28,850

Surplus

8,293
750
1,200
300

Capital
and
surplus

Commissions and
earnings
DoInterest Intermestic For- from in(includexeign surance Trust Profits Other
Interest ing divi- est on Interon
balest
Total
premiexand dis- dends) ances
not change change ums and depart- securi- earngross
and
counts
with
on
ings earnings
on loans invest- other classi- collec- depart- the nego- ment ties
fied
sold
tion ment tiation of
ments banks
real
charges
estate
loans
9,457
82G
1,336
302

3,616
3,379
950
10,593

25,803
1,850
3,900
1,000
2 755
11,111
10,429
2,050
39,443

3,624
4,718
877
11,457

608
1,005
104
3,562

353,070

221,691

574,761

183,287

54,052

5,722

5,820
4,545
7,655
1,525
4,950
13,633

2,646
2,109
3,927
875
2,350
6,597

3,765
2,650
4,539
878
3,307
7,117

837
793

115
106

950

320
435

8,466
6,654
11, 582
2,400
7,300
20,230
1,270
1,835
3,680
6,979

1,400
2,400
4,930
450

2.460
6.630
5,050
600

2,035

1,280
2,049
325

1,780
3,548
4,540
1,150
980

884

404
570

1,019
2,671

775

257

4,240
10., 178
% 590
1, 750
3,015

1,626
3,813
3,993
3G4

1,203

266

488
176
723

1,215
133
279
383
883
82
427

1,324
2,151
297
261

356
40
16
18
42
153
243
58

181
30

132
426
20
53
71
174
21
120
246
197
78

56

183
19
12
4

764
68
71
25

35
75
17

2

1
171
1

192
75
10
3
20
39
343
7

228

76

152

283

543

13,280
1,253
1,668
664
1,339
4,865
6,733
1,164
16,709

3,903

4,204

2,210

499

1,610

7,389

14,487

277,363

103
73

190
109

1
1

96
66
29

14
10
1

81
76

368
217

3
6

88

8

1

36

27
11
2

5,669
4,101
5,709
1,209
4,984
9,820
598
998
1,738
4,169
384
2,436
5,977
7,504
801
1,749

408

705

1,600
225
217
211

601

4

110

6
6

39
185

34
2

203

22
0

60
27

13

13

71
5
149
114
2
11
41
85
5
32
69
62
4
36 »-_»

5
6

1
6

1

1
19
209

_ -

3

44
3
163
99
6
2
13
20
3
43
80
155
11
10

82

207
176
100

321
115
507
594
33

56
200
275
16
173
359
731
47
153

335
3

_„„„

6

35.950
'900
5- 350
5,950

945

12,901
718
3 805
5, 590

Total Western State'-,

1,256

92, 483

42, 304

134,787

5.2, 799

14, 370

3,038

782

1, 515

25

286

341

1,137

6,487

80, 760

97
8
4
90
5
222
10
2
6
52
14
2
4
10
15

9,201
6,200
3, 200
6,310
5 600
23,822
17,950
1,700
51,000
3 635
800
750
2,100
1,400
1,525

3,936
3,470
660
3,144
2 162
10', 848
8,749
1, 538
33,000
1,441
358
150
1,025
660
372

13,137
9,670
3,860
9,454
7,762
34,670
26,699
3,238
84,000
5,076
1,158
900
3,125
2,060
1,897

4, 750
3,926
1 556
3,371
3 180
12,662
13,99.'
1 137
18,621
2 119
480
329
1,273
702
1,025

1. 856
1, 806
286
1,025
1 934
3, 864
2, 346
339
4,820
481
40
58
326
174
264

187
258
55
139
134
545
652
58
370
116
14
15
48
41
52

24

155
308
63
77
192
249
93
2
109
57
7
4
18
10
60

3
92
12

15

12
82
32

305
402
85
33
69
554
161
83

1

71
2
2
13
14
11

557
261
226
290
404
1,220
684
72
1,939
251
33
7
69
94
160

7,864
7,135
2 315
5,033
6 098
19,481
18, 670
1,730
31, 813
3 151
602
416
1,747
1,048
1,604

541

135,193

71, 513

206,706

69,128

19, 624

% 684

1, 365

6,570

6,267

108, 707

4
2

200
600

135
720

335
1,320

127
291

60
113

12
21

4

4
1

24
71

262
519

95

781

52,660

71, 822

i, 243,043

Oklahoma.

„

Oklahoma Oity
Tulsa,
„ „„_,

Washington.. _
,
« ...
SeattleSpokane.
Oregon_..»
.
Portland
California __
._._
Los Angeles
.„
Oakland
San Francisco
. . _ _.
Idaho Utah
Ogden

„_., _

..

Salt Lake City
Nevada.......
Arizona
Total Pacific States
Alaska (nonmember)
Hawaii (nonmember)
Total nonmember banks..
Total United States..




4,148
245
790
2, 210

19,398
1,145
6 HO
8,160

8,493
403
*>• 1 6 7
3,560

2,203
163
859
693

249
636
19
143 - - - - - - - 214

396
25
75
33

6

10

6

800

855

1,655

418

173

1, 474,173

1, 256,945

2, 731,118

767,292

272, 886

26,878

50
26

372

1,404
31
19

33

7,796

90
182

• * • * "

x

110
24
231
I
708

$
24
2

99
3
83
J.43

805
99

7
50

2

70
131
506
38
481
4

I
4
23
1, 209

9 '
8
84

1

50
9,659

1

2

4

16,256

13, 762

1,017

10, 811

o

i

o
o

M

fe
#

1
i
o
d

00

Abstract of reports of earnings, expenses^ and dividends of national banks for the year ended June S0% 1927—Continued

Ox

[In thousands of dollars]
Expenses
Location

Maine
_
_
_ _
New Hampshire
Vermont
Massachusetts
Boston
Rhode Island
-Connecticut
Total New England States
New York
Albany -_
_Brooklyn and Bronx
Buffalo
- -New York City
New Jersey
Pennsylvania
Philadelphia _ Pittsburgh . _
Delaware
Maryland
-Baltimore
_ _
Washington, D. C
Total Eastern States
Virginia
Richmond
West Virginia
North Carolina
South Carolina
Georgia
_
Atlanta
Savannah
_ __
Florida
Jacksonville




Net earnings and recoveries

Interest
Salaries and dis- Interest Interest Interest Interest
on
and
count on on bank demand on time
not
wages borrowed deposits deposits deposits classified
money
1,104
894
651
4,845
6,713
439
2,746

73
129
75
320
796
19
172

S3
57
40
362
2,032
38
125

680
291
109
3,358
7,682
568
1,705

3,087
561
1,081
7,317
5,349
555
2,911

56
62
199
8
5
44

Other
expenses

Net
earnings
during
the year

Recoveries on
loans
and discounts

358
247
300
1,170
989
131
898

690
582
324
3,086
3,778
308
1,469

6,101
2,823
2,779
20,466
27,339
2,063
10,070

2,403
1,428
1,019
8,043
12,055
862
4,319

109
27
12
207
437
15
116

143
78
15
153
644
46
140

71, 641
44,536
2,646
3 045
1 035
121, 475
35,285
61,020
24,893
18,495
873
4,612
5,960
5,319

30,129

923

17,831
1,082
646
285
70,176
13, 549
29,339
12,065
7,325
415
1,722
2,787
2,236

429
33
67
11
2,428
220
387
397
127
2
38
80
34

329,194

159,458

11,221
2,737
7,577
7,540
5,471
3,988
3,849
404
8,499
4,267

4,203
1,204
2,940
2,833
1,541
1,262
1,472
174
2,781
1,154

Taxes

17,392

1,584

2,707

14, 393

20,861

374

4,093

10, 237

10, 587
584
870
218
33, 250
8,692
15, 214
6,270
3,985
248
1,022
1,478
1,716

592
88
54
40
2,548
797
1,067
515
399
29
115
222
88

357
310
147
4
16,915
246
355
2,019
2,595
5
55
603
180

3,834
679
688
22
29,178
4,241
3, 545
6,853
4,818
118
148
1,165
755

19,494
444
282
454
10,254
13,727
26,178
3,914
2,993
223
2,238
1,078
1,151

809

236
1,915

3,050
181
146
59
9,107
2,088
4,569
1,619
1,192
58
340
588
697

5,813
360
858
238
20,223
5, 258
8,177
3,703
2,513
103
496
826
732

84,134

6,554

23, 791

56,044

82,430

3,247

23,694

2,979
779
2,065
2,234
1,420
1,270
1,071
124
2,882
1,009

331
127
195
470
211
155
37
4
262
25

297
291
241
248
272
100
251
35
276
425

507
385
585
439
208
173
577
24
702
525

4,040
584
2,501
1,796
1,817
1,052
847
78
1,930

450

1,026
177
792
615
528
437
372
26
654
243

49,300
1,591
394
1,083
1,256
875
691
694
113
1,700
805

1,236

89
198

115
482
140
110
93

Total net
Recoveries on All earnings
and
bonds, other recoveries
securi- recovon
ties,
eries charged
etc.
off assets

Total
expenses
paid

20
16
1
97
62
14
43

2,675
1,549
1,047
8,500
13,198
937
4,618

1.219

253

32, 524

605
66
46

258

2,345
359
1,210
97
300
25
60
20
16

489
353
419
24
218

19,123
1,181
862
296
75,438
14,481
31,355
12,583
7,970
442
1,844
2,890
2,350

4,253

5,149

1,955

147
8
72
90
131
77
39
8
143
146

14
1
42
11
16
6

25
3
55
9
76
19
7
6
136

14
9

103

24
3
64

8

170,815
4,389
1,216
3,109
2,943
1,764
1,364
1,518
188
3,074
1,317

Alabama
—
Birmingham-..._,---.
Mississippi
Louisiana
—.
.-,
New Orleans.J-I Texas
*o
Dallas
£
El Paso
o
Fort Worth.
Galveston
to
Houston
San Antonio.Waco
Arkansas
Little Rock
01
Kentucky
Louisville
Tennessee
Memphis
Nashville
_.,
Total .Southern States
Ohio
Cincinnati
Cleveland
„
Columbus. _
Toledo
Indiana
Indianapolis-_
Illinois
Chicago, Cent. Res_
Chicago, other Res
Peoria
Michigan
Detroit- _
Grand Rapids. _
Wisconsin
Milwaukee
Minnesota
Minneapolis
St. Paul
Iowa
Cedar Rapids
Des Moines
Dubuque
Sioux City
souri
Kansas City
St. Joseph
St. Louis
Total Middle Western States.




1,723
451
1,175
1,101
499
7,808
1,571
360
814
211
1,499
668
217
1,192
93
1,943
1,025
1,907
209
608

284
102
182
193
166
547
103
50
188
29
30
67
28
94
23
150
101
144
8
183

75
79
93
171
95
621
505
38
288
176
411
131
31
208
27
117
516
339
86
269

297
176
265
377
318
2,145
708
136
426
253
556
149
72
292
12
280
494
368
20
186

1,381
548
1,069
681
84
2,111
674
151
413
363
1,172
371
210
1,173
47
2,052
792
2,196
268
493

40,907
5,761
1,166
1,083
1,078
132
3,702
852
6,803
7,468
1,270
331
2,935
1,793
395
3,021
1,496
3,217
2,289
1,084
2,949
214
409
100
365
1,208
1,646
315
3,224

4,439
377
55
197
80
39
220
2
329
323
41

11,655
2,211
771
1,128
853
100
891
460
935
8,790
307
70
836
2,144
167
653
769
432
878
584
540
91
163
29
56
213
760
41
2,755

32,129
6,815
792
1,449
335
142
4,109
275
6,301
1,549
1,190
274
4,518
976
381
3,944
896
4,810
1,554
998
3,961
226
134
224
269
900
345
183
1,892

2,293
574

323

6,712
258
517
135
344
30
454
373
587
3,715
24
108
243
456
62
234
498
342
862
374
286
258
254
26
146
220
1,003
190
1,243

56,306

3,482

13,242

27, 627

49,442

3,047

140
288
31
90
194
79
147
43
272
9
20
26
62
95

157
126
10
204

72
229
105

159
786

483
257
382
363

43

503
366
481
375
204
2,291
550
84
229
77
511
246
86
226
14
754
254
560
95
272

929
204
701
555
267
4,030
888
179
557
107
963
422
134
758
58
956
550
895
133
417

5,299
1,926
4,092
3,463
1,633
19,757
4,999
998
2,915
1,216
5,142
2,054
778
4,015
274
6,481
3,732
6,514
819
2,428

2,319
760
1,355
1,117
820
8,547
2,429
335
1,146
327
1,696
868
300
1,278
25
2,633
1,682
2,683
147
891

110
132
184
80
16
1,456
49
39
59
17
200
102

12

64

17

13,048
2,061
593
297
310
35
1,501
363
1,965
3,562
191
113
1,001
735
148
871
167
927
645
229
654
30
132
27
53
351
356
48
2,312

22,905
3,133
569
820
729
56
1,883
441
3,483
5,006
837
220
1,927
1,564
369
1,757
1,095
1,702
1,164
764
1,540
161
225
51
227
655
1,072
199
1,686

134,088
21,190
4,463
5,109
3,729
534
12,919
2,766
21,189
30,413
3,860
1,116
12,083
7,956
1,553
10,827
5,115
11,891
7,539
4,076
10,565
989
1,337
457
1,142
3,652
5,277
976
13,435

50,922
8,049
1,854
1,135
1,265
284
4,561
1,753
8,417
11,669
1,148
608
4,100
2,773
349
4,074
2,023
3,337
2,436
1,625
2,715
264
331
107
197
1,213
1,456
188
3,274

3,616
222
194
36
38
10
143
214
194
1,434
11
21
141
75
11
104
72
250
184
178
343
34

334

960

166
64
1
25
7
94
15
211
416
1
1
55

115
14
6
8
19
115
4
105
38

82

19

98
188
93
641

19,J577

33,335

206,158

71,205

5,022

7

82
2
104
24
78
2

7

20

22

17
15
37
217
15
20
5
1

2
48
2
9
2

20
11

3

19

19
42
1

20
137
44
1

2,456
892
1,578
1,212
875
10,268
2,493
396
1,210
345
1,925
983
307
1,382
27
2,776
1,885
2,806
150
984

12

73
142
219
9
91
4
7
96
4
17
6
5
76
51
20
25

55,832
8,552
2,126
1,178
1,336
320
4,913
1,986
8,927
13,557
1,167
630
4,369
2,990
373
4,473
2,185
3,724
2,628
1,958
3,203
302
449
113
213
1,394
1,704
301
3,952

1,520

1,276

79,023

13
76
81
46
4
148
49

11
7
9

7

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1927—Continued
[In thousands of dollars]
Expenses
Interest
Salaries and dis- Interest
and
count on on bank
wages borrowed deposits
money

Location

North Dakota
South Dakota
Nebraska
Lincoln
Omaha

Interest
on
demand
deposits
147
158
114
106
483
440
74
150
91
178
23
186
299
793
27
105
1,022
64
468
762

Interest Interest
on time
not
deposits classified

1,315
1,051
1,380
279
1,177
2,500
126
242
346
938
94
581
1,505
1,487
123
440
3,575
160
721
1,120

60
44
123
25
87
98
18
1
4
28
3
6
83
42

32
22

88
99
123
136
570
278
55
92
230
56
34
67
60
403
100
18
248
32
300
299

19.160

849

3,288

5,690

1,938
1,190
1.551
130
360
1,837
31
64
194
1,157
73
523
1,223
1,467
162
236
1,659
103
500
545
14,943

Washington
Seattle
SDokane

1,977
1,836
572

62
21
14

56
386
94

392
417
97

1,715
' 854
541

Oregon.
Portland
California
Los Anseles
Oakland
San Francisco
Idaho
Utah
Ocden
Salt Lake City

1,381
1,485
5,258
4,261
479
5,728
814
131
103
374

54
56
272
96
13
736
37
10
2
10

44
258
306
1,149
103
1,466
65
5
35
175

218
229
960
1,180
209
3,056
188
18
30
129

1,012
1,449
3,740
4,708
186
5.669
639
171
67
269

Kansas City
Topeka
Wichita
Montana
.
Helena
Wyoming
Colorado
Denver
Pueblo
New Mexico..
Oklahoma
Muskogee
Oklahoma Citv
Tirisa

__
. _
_.
._

Total Western States.-




--

12
161

Net earnings and recoveries

Taxes

Net
Total
Other
earnings
expenses expenses during
paid
the year

Recoveries on
loans
and discounts

247
153
320
67
175
892
42
65
134
213
26
142
473
356
145
105
737
21
177
185

793
545
688
158
895
1,305
94
130
263
491
39
298
731
737
62
267
2,097
111
539
722

4,733
3.309
4.402
891
3,747
7,436
440
744
1,262
3,071
292
1,817
4,422
5,285
619
1,187
9,623
491
2,737
3,655

836
792
1,307
318
1,237
2,384
158
254
476
1,098
92
619
1,555
2.219
182
562
3,278
227
1.068
1.935

90
96
271
8
181
424
11
79
19
302
54
81
331
173
19
173
815
7
72
157

603

4,665

10,965

60,163

20,597

3.363

35
340

507
482
118

1,051
952
400

5,795
5,288
1,836

2.069
1.847
479

30

341
180
940
762
75
1,187
192
49
43
85

647
768
2,874
2,408
235
4,756
425
68
54
200

3,727
4,425
14,610
14,564
1,300
22,598
2,374
465
334
1,242

1.306
1.673
4,871
4,106
430
9,215
777
137
82
505

145
69
103
86
10
14
48
4
124

260

14
13

Total net
Recovearnings
eries on All
and
bonds, other recoveries
securi- recovon
ties,
eries charged
etc.
off assets
11
28
8
117
24
2
45
14
49
90
35
3
11

54
57
38
1
83
73
13
7
12
8
7
69
16
31
83

991
973
1,624
327
1,618
2,905
184
340
507
1,453
146
721
2,004
2,498
236
769
4,187
234
1.143
2,113

454

3
4
559

24,973

277
128
70

17
2
4

33
146
2

2*396
2,123
555

126
213
292
298
2
134
56
9
2
10

13
89
44
12
11

31
47
80
89
22
55
38
2

1,476
2,022
5,287
4,505
465
9,404
877
148
86
521

17

6
2
4

2

Nevada. _„„.„._
Arizona
.._.
Total Pacific States
Alaska (nonmember)
Hawaii (nonmember)
Total nonmember banks.
Total United States

207
556
25,162

141
283

232
268

1,434

7,212

21, 520

715

736
1,334

312
270

15,262

80,628

28,079

23

5,127

1,699

164

21

185
243.246

98
18,342

53,944

54

21

122,719

221,379

10,300

On
On
On loans bonds, On trust banking
On
departand dis- securities, ment op- house,
foreign
furni- exchange
counts
erations ture, and
etc.
fixtures

Location

_

__.

Total New England States.
New York
Albany
Brooklyn and Bronx
Buffalo
„
New York C i t y . . . .
New Jersey
Pennsylvania
Philadelphia
_
Pittsburgh.
Delaware...
Maryland
_
Baltimore.
.
Washington, D. O
Total Eastern States

204

30,551
•

59
126

502

279

882, 374

70,337

109
181

181

360, 669

290
18, 883

Losses and depreciation charged off

Maine.
New Hampshire
Vermont
Massachusetts
Boston
Rhode Island
Connecticut

325
361

22

~

...




206
170
127
2,326
4,716
58
504

256
100
78
866
4,080
38
256

8,107

5,674

2,569
70
341
29
5,851
1,106
4,178
1,421
1,161
32
176
601
326

1,302
103
50
16
6.334
696
2,672
590
1,065
10
108
81
110

17.861

13,137

105
200
45
372
104
2
275
40

1,103

84

102

840
94
39
904
687
1,514
97
281
6
42
87
28
107

4,619

45
166

8,884 | 5,572

394,008

Ratios

Other

Total
charged
off

42
27
10
120
153
6
70

625
521
268
3,694
9,137
104
1,105

428
293
11
31
3
2,542
225
869
110
17
5
47
15
36
4,204

40,094

Net
addition
to profits

Dividends

Net adDiviNet ad- dition to
Dividends to dition
dends to capital profits to profits to
to capital
capital and sur- capital and surplus
plus
Per cent
10.99
11.39
11.04
13.03
12.22
10.39
9.44

Per cent
6.01
5.99
6.75
7.13
6.60
5.15
4.91

Per cent

13.70

7.38

12.16
16.36
4.89
8.02
18.02
12.89
15.06
18.97
11.03
12.39
14.41
12.69
11.12

6.28
6.43
2.89
4.34
7.87
6.53
5.91
5.94
5.14
5.22
6.03
7.10
6.44

25.45
36.25
5.26
15.95
28.08
24.94
24.69
31.41
18.74
22.11
27.71
15.73
17.57

13.15
14.24
3.11
8.65
12.26
12.64
9.68
9.84
8.73
9.32
11.60
8.81
10.17

15.50

6.78

25.74

11.25

2,050
1.028
779
4,806
4,061
833
3,513

854
615
564
3,763
6,222
506
2,049

15,454

17,070

14, 573

11.69

5,011
184
516
87
15, 778
2,748
9,238
2,232
2,545
53
373
829
500

14,112
997
346
209
59,660
11, 733
22,117
10,351
5,425
389
1,471
2,061
1,850

6,739
450
322
105
38.291
6.065
13,493
6,251
3,192
218
765
1,662
1,171

130, 721

78,724

19.04
15.24
16.64
7.98
17.10
16.19

Percent
14.42
10.02
9.32
9.11
4.31
8.48
8.43

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June 30, 1927—Continued

00

[In thousands of dollars]
Losses and depreciation charged off
Location

Virginia
Richmond
West Virginia
North Carolina
South Carolina.Georgia _
Atlanta
(SR,vanTin.h
. . _
Florida -Jacksonville
Alabama
Birmingham
Mississippi
Louisiana
New Orleans _ _
_
Texas
--Dallas
El Paso
Fort Worth
Galveston
Houston _ .
San Antonio
Waco.
Arkansas
Little Rock _
Kentucky
_ _
Louisville
Tennessee _
_
Memphis
Nashville
_

On
On loans bonds,
and dis- securities,
counts
etc.

1,691
153
946
464
764

1,334
440

...

_

__

79
42
9
104
36

117
186
38
391
323
123

-

42
26
24
17
16
5

517
5
623

229
915




19

2
4

160
5
70
81
156

84
15
44

2,230
320
1,261
615
1 061
1,123
358
108

114
23
5

1,713
579

58

933

2,159
896
1,848
2,328
703

241
1,160
80

Dividends

2,838
638
1,681
1,643
748

683
1,012
90

1,361
738
1 523
688
789
661
563
3,589
1 979

1,662
400
1,181
345
536
671
392
4,121
1,381

125
854
221

s

5
56
27
14
465
63

204
789
551
312
6,679
514

59
59
46
113
67

271
356
124
578
432
138

1,347
551
169

46
532
156
869
330
186

48

53
85
16
49
26
10
69

122
23
71

4

5
48
33
93
324
118

78
42
65

606
30
1,505
2,547
1,906
120
477

642
5
915

Net addition to
profits to
capital
and surplus

DiviDivi- dends to
dends to capital
capital and surplus

Net addition to
profits to
capital

Per cent Per cent
11.70
6.75
10 13
5 62
12.43
6.70
11.07
6.63
7 52
5 02
7.72
4.63
9.64
17.01
3 00
1.64
12.99
8.09
10 00
6 40
9.72
5.82
17.69
6.70
5.83
9.77
7.25
10.69
7.84
14.00
5.74
8.78
8.33
10.71
2.88
2.09
11.96
7.71
7.26
5.32
6.72
10.16
6.95
5.11
11.27
8.90
8.89
6.17
10.00
6.00
10.52
6.24
42.45
24.61
15.17
9.73
6.67
12.00
11.63
6.39

Per cent Per cent
8.90
5.13
14 22
7 89
13.67
7.36
9.39
15.69
7 07
4.72
2.72
1.63
11.05
19.50
2 67
1 45
10.64
6.62
18 45
11 81
12 54
7 51
35.28
13.36
14.38
8.59
10 53
7 15
20.11
11.26
7.65
5.00
15.34
11.94
7.81
5.68
19.19
12.38
7.54
10.28
15.75
10.41
11.60
8.54
10.24
8.09
10.86
7.54
7.33
4.40
13.02
7.71
25.72
14.91
13.34
8.56

342

175

23
37

1,129
457
322

33

2,342

195

1,993

25,061

30,771

29,332

11.27

6.98

11.83

7.32

1

84

730
24

210

3

8

197
2
39

4,324
348
433

4,228
1,778
745

3,946
1,491
476

10.08
18 41
9.92

5.83
11.13
6.06

10.80
21.95
15.52

6.25
13 27
9.49

1,509

173

8
1

Total
addition
losses to profits
charged
off

14
40

1,348

238

22
178
12
144
58
48

1

2
15

1,887

-

72

92
48
78

19,150

-

274
124
73
54

Net

Other
losses

740
22
1,861
1,543
1,677
1307
662

7

243
230

_

1

70

194
60b
449
196
5,782
297

______

Total Southern States
Ohio
Cincinnati
Cleveland

752

_

_

40
32
1
121
58

51

--

65

958
133

_

97
37
169
16

On
On trust banking
On
depart- house, foreign
ment op- furni- exchange
erations ture, and
fixtures

Ratios

16.15

8.87

Columbus...... — .-...-..-----———Toledo.
Indiana
Indianapolis
—:
Illinois
_-.
Chicago, Cent, res
Chicago, other res
Peoria
,
Michigan
Detroit.—
Grand Rapids
—
_
Wisconsin..
----Milwaukee
Minnesota
_
Minneapolis
St. Paul....
Iowa__
Cedar Rapids_..DesMoines__
Dubuque
Sioux City
„
—
Missouri
Kansas City
St. Joseph
St. Louis
_
Total Middle Western States
North Dakota._._
South Dakota
Nebraska.
Lincoln
Omaha_._
Kansas
Kansas City
Topeka_
Wichita
Montana.
Helena
_
Wyoming
Colorado
Denver.
_
__
Pueblo
_-_
New Mexico
Oklahoma...
Muskogee
_._
Oklahoma City
_
Tulsa
Total Western States...
»Deficit.




324
4
906
534
2,124
1,903
68
57
556
301
59
3,043
399
1,716
910
397
2,939
102
339
25
135
509
568
251
704

92
27
191
226
410
224

19,171

58

81
11
315
2
588
189
62
30
315
409
23
240
3
75
24
30
78

19
26
122
6
114

211

8
7
8
64
29
8
118

4, 783

299

3,474

76
50
39
14
116
88
23
2
33
21

1
1

27
17
25

37

134
109

77

12
222
133
4
222
124
219
88
284
117

7
16
2

4

21

609
734
1,175
117
1,066
1,782
98
89
46
927
61
228
1,178
847
101
450
2,657
48
402
740

18
144
408
12
68
91
5
66
42

13, 355

1,316

44
107
35

2

8.45
4.00
6.49
5.65
6.62
5.68
5.20
5.58
8.24
6.09
6.88
7.19
9.75
5.74
7.12
6.72
4.12
4.43
1.79
7.20
2.32
4.93
5.73
4.20
8.18

14.93
55.20
13.41
15.82
14.26
20.67
16.96
21.33
19.04
17.48
14.78
15.86
16.71
7.70
13.68
21.96

7.36
13.80
8.59
11.20
8.61
11.58
12.04
9.18
11.28
9.76
9.33
10.29
10.54
5.16
8.17
13.20

11.82
2.15
11.57
2.20
9.61
13.42
.64
9.20

7.03
1.49
8.10
1.63
6.48
9.07
.34
6.73

20

2,417

30,164

48,859

37,151

10.52

6.46

13.84

8.50

60
424
1
120
74

797
847
1, 374
166
1,491
2,292
149
153
208
1,024
61
354
1,532
1,468
125
595
3,420
54
671
905

194
126
250
161
127
613
35
187
299
429
85
367
472
1,030
111
174
767
180
472
1,208

320
198
641
163
401
1,102
80
132
194
354
50
215
604
717
160
97
1,165
85
522
370

5.50
4.36
8.37
10.69
8.10
8.08
8.42
9.43
8.08
7.18
11.11
8.74
9.11
14.20
26.67
4.77
7.64
9.44
9.76
6.22

3.78
2.98
5.53
6.79
5.49
5.45
6.30
7.19
5.27
5.07
6.45
5.07
5.93
7.48
9.14
3.22
6.01
7.42
8.50
4.53

3.33
2.77
3.27
10.56
2.57
4.50
3.68
13.36
12.46
8.70
18.89
14.92
7.12
20.40
18.50
8.55
5.03
20.00
8.82
20.30

2.2£
1.89
2.16
6.71
1.74
3.03
2.76
10.19
8.13
6.15
10.97
8.66
4.64
10.74
6.34
5.77
3.95
15.72
7.69
14.80

1,853

17, 686

7,287

7,570

8.19

5.62

7.88

5.41

13
1

37
72
93
12
17
246

1,107

17.13
16.00
10.13
7.97
10.96
10.14
7.33
12.97
13.92
10.92
10.89
11.08
15.45
8.56
11.92
11.19
6.06
7.45
2.59
10.29
3.12
7.31
8.48
7.82
11.18

6
75
38
29
152

1

84
45
135
35
175
276
28
5
22
40
71
138
120

83
49
41

942
80
2,512
610
4,126
5,480
403
321
2,312
1,310
196
1,981
1,530
1,636
1,359
632
1,062
82
70
72
64
548
598
86
3,226

1

I

18
2
161
14
420
70
25
3
111
49
21
128
5
243
47
6
463
70
23

821
276
3,324
1,210
5,368
11,171
933
528
3,164
2,098
266
2,836
1,654
1,471
1,559
1,241
1452
130
58
81
45
720
946
7
2,653

515
44
1,589
776
3,559
2,386
234
102
1,205
892
107
1,637
531
2,253
1,069
717
3,655
172
391
32
168
674
758
294
1,299

9

14

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1927—Continued
[In thousands of dollars]
Losses and depreciation charged off
On
On
On loans bonds, On trust banking
On
departand dis- securities, ment op- house,
foreign
furni- exchange
counts
etc.
erations ture, and
fixtures

Location

Washington
Seattle
Spokane
_
Oregon
Portland
California _
Los Angeles
Oakland
_ _
San Francisco
Idaho
Utah.
Ogden
Salt Lake City _ _ _
Nevada
Arizona..

.

_. .

162
111

402

18

60
336

87
80

262

472

86
11

207
28

Other
losses

11
1

111
91

1

101
41

10

41
5
1

270

154
39

1,308
702

_ __
._
_ _

1,088
1,421

Dividends

964
1,042

84

194

482
1,153
2,236
2,826
171
7,593

576
746
2,436
2,397
128
4,096

792
96
43
243
222
608

85
52
43
278
103

471

64
30
1
18
62
27
100

1,310

14
1

3
8

11

15

11

18

3

47

86, 512

27, 579

14, 410

12,149

141, 689

501
19
6

Net
addition
to profits

994
869
3,051
1,679
294
1,811

8,853

Total nonmember banks.




2

Total
losses
charged
off

655
60
22
101
144
317

Alaska—nonmember___
Hawaii—nonmember

Deficit.

189
46

745
412
2,042
1,231
216
1,220

Total Pacific States

Total United States

833
453

Eatios
Net adDiviNet ad- dition to
Dividends to dition
dends to capital profits to profits to
to capital
capital and sur- capital and surplus
plus
Per cent
10.48
16.81
6.06
9.13
13.32
10.23
13.35
7.53
8.03
4.40
7.38
5.33
12.10
9 50
3.54

Per cent Per cent Per cent
7.34
11.82
8.28
10.78
22.92
14.69
2.18
5.03
2.63
5.10
6.09
7.64
14.85
9.61
20.59
7.03
9.39
6.45
8.98
15.74
10.58
5.28
3.95
10.06
4.88
14.89
9.04
2.34
3.15
1.67
5.09
6.50
4.49
4.44
5.73
4.78
8.13
13.24
8.90
5 00
6 46
7 36
2.85

7

1

26
88
29
3
55
19
183

1247

160
59
40
254
133
54

1,747

20

1,251

13,183

17, 368

13, 279

9.82

6.42

12.85

8.40

2
1

26
21

83
160

56
68

28.00
11.33

16.72
5.15

41.50
26.67

24.78
12.12

243

124

15. 50

7.49

30.38

180, 753

12.26

6.62

17.12

n
o

9.24

7

522

i

14.68

252, 319

25
32
2

d

517

w

3

O

Earnings, expenses, and dividends of national banks by Federal Reserve districts, year ended June SO, 1927
[In thousands of dollars]

District

District District District District District District District NonGrand
No. 6
No. 8
N o . 10
No. 12 member
No. 7
No. 9
No. 11
total
(485
(946
(537
(674
(708
(7,796
(378
(994
banks
banks)
banks) banks)
banks) banks) (6 banks) b a n k s ) 1
banks) banks)

No.l
(376
banks)

Capital
Surplus
.
Capital and surplus
Gross earnings:
Interest and discount on loans
Interest (including dividends) on investments _ . _Interest on balances with other banks
Interest not classified
Domestic exchange and collection charges.
Foreign exchange department
Commissions and earnings from insurance
premiums and negotiation of real estate
loans
Trust department— _.
Profits on securities sold
Other earnings.'..Total-Expenses paid:
Salaries and wages
Interest and discount on borrowed moneyInterest on bank deposits
Interest on demand deposits
Interest on time deposits
Interest not classified
_ _ . _ .Taxes
Other expenses
Total-Net earnings during period .
Recoveries on charged-off assets:
Loans and discounts .
Bonds, securities, etc
All other
. .
Total--

District District District District
No. 2
No. 3
No. 4
No. 5
(761
(683
(731
(517
banks) banks) banks)
banks)

120,957
102,464
223,421

317, 774
370,418
688,192

108,994
186, 721
295, 715

124,680
127,329
252,009

96,132
73,226
169,358

73,035
50,533
123,568

190,387
124,572
314,959

73, 790
36,229
110,019

59,083
32,107
91,190

84,793
39, 730
124, 523

89,105
41,448
130, 553

134,643
71,313
205, 956

800
855
1,655

1,474,173
1,256, 945
2, 731,118

66,684

64,288

49,218

41,376

102,149

34,588

32,171

48,889

43,264

68,742

418

767,292

7,657
1,868
618
1,736
109

25, 605
2,621
2,089
2,230
1,859

10,349
1,407
902
759
81

11,264
1,318
997
1,593
149

12, 885
2,933
558
1,190
25

5,441
2,191
830
1,691
143

19, 507
2,658
372
1,366
1,186

173
33
50
1

272,886
26,878
9,659
16, 256
13, 762

158,382
83, 919
5,169
309
3,166
8,038

30,458
1,140
355
482
894

31, 593
2,321
647
526
381

9,347
1,278
1,793
935
67

34
1,092
4,353
7,419

35
4,606
19, 793
19,136

6
494
5,480
3,105

19
705
6,551
5,392

17
487
1,664
3,852

2
402
1,002
3,703

216
690
3,119
8,842

52
243
1,099
1,896

457
106
1,150
2,506

88
488
1,312
5,865

5
130
564
3,794

84
1,364
6,568
6,217

2
4
5
95

1,017
10, 811
52,660
71,822

98,200

302,553

109, 098

112,423

68,658

58,473

149, 420

51, 376

51, 711

74, 233

58, 053

108, 064

781

1,243,043

16,793
1,554
2,686
13, 929
20,072
365
3,908
9,847

52, 595
3,829
17,972
38,034
42,455
1,041
14,093
31,873

18,398
1,712
2,275
10,445
22,840
1,331
5,444
10, 268

20,101
1,478
4,140
11,294
24, 525
1,399
6,594
11,492

13, 511
1,744
2,123
4,125
14,848
1,3854,663
7,160

12, 753
1,563
1,981
3,633
10,887
583
4,107
7,412

30,032
1,856
7,213
16,130
23,968
1,632
10,109
18, 664

10, 611
853
2,821
4,429
9,468
452
4,580
5,649

11,338
418
1,921
2,693
13, 633
779
2,894
6,239

17, 618
762
4,239
5,914
11,165
383
4,419
10,315

14,380
1,160
2,372
4,817
6,086
214
4,397
7,929

24,931
1,413
4,193
7,178
21,378
715
5,096
15,156

185
8
98
54
21
33
103

243,246
18,342
53,944
122,719
221,379
10,300
70,337
142,107

69,154

201,892

72, 713

81,023

49, 559

42,919

109,604

38, 863

39, 915

54,815

41,355

80, 060

502

882,374

29,046

.

57,123
24, 688
1,941
189
532
829

100,661

36,385

31,400

19,099

15, 554

39,816

12, 513

11,796

19,418

16, 698

28,004

279

360, 669

911
1,169
252

3,137
3,368
921

628
1,207
695

911
806
429

600
179
257

905
124
312

2,742
933
734

1,019
156
296

1,212
293
296

3,013
377
499

2,109
64
317

1,689
204
564

7
4

18,883
8.884
5, 572

31,378

108,087

38,915

33, 546

20,135

16,895

44,225

13,984

13, 597

23,307

19,188

30, 461

290

394,008

i Includes nonmember banks of Alaska and the Territory of Hawaii,




Earnings, expenses, and dividends of national banks by Federal Reserve districts, year ended June SO,

1927—Continued

OS

to

[In thousands of dollars]
District
No. 1
(376
banks)

Losses and depreciation charged off:
On loans and discounts
On bonds, securities, etc
_
On trust department operations
On banking house, furniture and fixtures.
On foreign exchange
Other losses
Total
Net addition to profits from operations during period
Total dividends declared since June 30,1926.. _
Ratios:
Dividends to capital2
per cent..
Dividends to capital and surplus 8_do
Net addition to profits to capital 2_.do
Net addition to profits to capital and surplus 2
per cent
> Capital and surplus as of June 30,1927.




District District District District District District District District District District District
NonNo. 2
No. 5
No. 6
No. 7
No. 9
No. 10
No. 11
No. 3
No. 4
No. 12 member
No. 8
(761
(517
(378
(994
(674
(946
(683
(731
(537
(485
(708
banks
banks) banks) banks) banks) banks) banks)
banks)
banks)
b a n k s (6 banks)
banks)
banks)

7,880
5,551
40
1,056
102
419

9,877
8,486
83
2,377
72
3,041

3,702
2,305
23
1,375
24
504

6,398
4,161
2
1,710
33
891

5,082
663
1
746
60
£61

5,689
490
19
710
5
505

10,437
1,773
87
1,758
3
1,354

3,338
404
212
565
183
530

5,796
806
2
447
1
515

11,509
1,310
39
1,077
14
1,762

8,140
406
12
827

15,048

23,936

7,933

13,195

7,113

7,418

15, 412

5,232

7,567

16, 330
14,243

84,151
50,438

30,982
17,842

20,351
15, 286

13,022
10, 956

9,477
8,819

28,813
19, 574

8,752
9,394

11.78
6.37
13.50

15.87
7.33
26.48

16.37
6.03
28.43

12.26
6.07
16.32

11.40
6.47
13.55

12.08
7.14
12.98

10.28
6.21
15.13

7.31

12.23

10.48

8.08

7.69

7.67

9.15

Grand
total
(7,796
banks)

15
11

968

8,649
1,213
2
1,744
20
1,096

3

86,512
27,579
522
14,410
517
12,149

15, 711

10,353

12,724

47

141,689

6,030
5,379

7,596
7,397

8,835
8,022

17, 737
13, 279

243
124

252,319
180,753

12.73
8.54
11.86

9.10
5.90
10.21

8.72
5.94
8.96

9.00
6.14
9.92

9.86
6.45
13.17

15.50
7.49
30.38

12.26
6.62
17.12

7.95

6.61

6.10

6.77

8.61

14.68

9.24

18

REPORT OF THE COMPTROLLER OF THE CURRENCY

GS

National-bank investments in United States Government securities and other bonds
and securities, etc., loans and discounts (including rediscounts), and losses charged
off on account of bonds and securities, etc., and loans and discounts, years ended
June 30, 1918 to 1927, inclusive
[In thousands of dollars]

Year ended
June 30—

1918
1919
1920
.„..
1921
1922
1923..„.._.._1924..
1925
1926
1927...

United
States
Government
securities

Losses

Loans and charged
Total
discounts off on
Other
bonds and bonds and (including bonds
securities securities,
and seredisetc.
curities,
counts)

2,129,283
3,176,314
2,269, 575
2,019,497
2,285,459
2,693, 846
2,481, 778
2,536, 767
2,469,268
2,596,178

etc.

1,840,487
1,875,609
1,916,890
2,005,584
2,277, 866
2,375,857
2,660, 550
3,193,677
3,372,985
3, 797,040

3,969, 770
5,051,923
4,186,465
4,025,081
4, 563, 325
5,069,703
5,142, 328
5, 730,444
5, 842, 253
6,393, 218

10,135, 842
11,010,206
13,611,416
12,004,515
11, 248,214
11, 817, 671
11,978,728
12, 674,067
13, 417, 674
13,955, 696

44,350
27,819
61, 790
76,179
33,444
21, 890
24, 642
25,301
23,783
27, 579

Losses
charged
off on
loans
and discounts

Percentage of
losses
charged
off on
bonds
and securities
to total
bonds
and securities
owned

33,964
35,440
31, 284
76, 210
135, 208
120, 438
102, 814
95, 552
93, 605
86, 512

Percentage of
losses
charged
off on
account
loans
and discounts
to total
loans
and discounts

1.12
.55
1.48
1.89
.73
.43
.48
.44
.41
.43

0.34
.32
.23
.63
1.20
1.02
.86
.75
.70
.62

Number of national banks, capital, surplus, net addition to profits, dividends, and
ratios, years ended June 30, 1914. to 1927
[In thousands of dollars]

Ratios
Numbanks

Year ended June 30— ber of

1914.
1915.
1916.
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.

7,453
7,560
7,571
7,589
7,691
7,762
8,019
8,147
8,246
8,238
8,085
8,070
7,978
7,796




Capital

Surplus

1,063,978
,068,577
,066,209
, 081, 670

714,117
726, 620
731,820
765,918
816,801
869,457
984,977
1, 026,270
1,049,228
1,070,600
1,080,578
1,118,953
1,198, 899
1, 256,945

,115,507
1, 221, 453
1,273,237
1,307,199
1,328,791
1,334,011
1,369,385
1,412,872
1,474,173

Net addition to
profits

Dividends

149,270
127,095
157,544
194,321
212,332
240,366

120,947
113,707
114,725
125, 538
129,778
135, 588
147,793
158,158
165,884
179,176
163, 683
165,033
173, 753
180, 753

216,106
183,670
203,488
195,706
223,935
249,167
252,319

Dividends
to capital

Dividends
to capital and
surplus

Net
addition to
profits
to capital

Net
addition to
profits
to capital and
surplus

Per cent Per cent Per cent Per cent
11.37
6.80
14.03
8.39
10.63
6.33
11.89
7.08
10.76
6.38
14.78
8.76
11.61
6.79
17.96
10.52
11.82
6.78
19.33
11.09
12.15
6.83
21. 55
12.11
12.10
6.70
23.09
12.78
12.42
6.88
16.97
9.40
12.69
7.04
14.05
7.79
13.48
7.47
15.31
8.48
12.27
6.78
14.67
8.11
12.05
6.63
16.35
9.00
9.54
12.30
6.65
17.63
9.24
12.26
6.62
17.12

64

REPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL BANK EXAMINERS

The following is a list of the examiners in the service on October
31, 1927:
CHIEF NATIONAL BANK EXAMINER

Pole, J. W., Office Comptroller of the Currency, Washington, D. C.
ASSISTANT CHIEF NATIONAL BANK EXAMINERS

Office Comptroller of the Currency, Washington, D. C.
Proctor, J.L.
Hodgson, R. M.
Smith, C. F.
McBryde, W. W.
DISTRICT CHIEF NATIONAL BANK EXAMINERS

[By Federal reserve districts]
F. R.
Dist.
No.

Name

1

Williams, F. D

2

Reeves, Owen T., jr__

3

Newnham, Stephen L_

4

Leyburn, Alfred P

5

Folger, William P

6

Robb, Ellis D

7

Sims, Howard M

8

Wood, John S

9

Patterson, B. K

Address

10

Roberts, L. K

11

Collier, Richard H _

12

Harris, Thomas E

Federal Reserve Bank Building, Boston,
Mass. Telephone No., Congress 3859.
525 Federal Reserve Bank Building, New
York, N. Y. Telephone No., Whitehall
4737.
1414 Jefferson Building, Philadelphia, Pa.
Telephone No., Walnut 4309.
715 Federal Reserve Bank Building, Cleveland, Ohio. Telephone No., Main 325.
Sixth floor, Metropolitan Bank Building,
Washington, D. C. Telephone No., Main
1689.
606 Fourth National Bank Building, Atlanta, Ga. Telephone No., Ivy 6497.
164 West Jackson Boulevard, room 1203,
Chicago, 111. Telephone No., Wabash
5340.
1310 Federal Commerce Trust Building,
St. Louis, Mo. Telephone No., Olive
5827.
1334 First National-Soo Line Building, Minneapolis, Minn. Telephone No., Main
4617.
800 Federal Reserve Bank Building, Kansas
City, Mo. Telephone No., Victor 1648.
1706 Republic Bank Building, Dallas, Tex.
Telephone No., X 3698.
1103 Alexander Building, San Francisco,
Calif. Telephone No., Sutter 4438.

NATIONAL BANK EXAMINERS

3
10
7
5
6
9

Allanson, Edward A_
Allen, E. F
Allsup, A. S
Amrhein, Joseph A__
Anderson, E. F. (Rec)_
Anderson, O. A




1414 Jefferson Building, Philadelphia, Pa.
Post-office box, 1546, Muskogee, Okla.
1428 North Main Street, Decatur, 111.
910 Virginia Railway & Power Building,
Richmond, Va.
Georgia National Bank, Athens, Ga.
Care of G. W. Swords, American National
Bank Building, Billings, Mont.

REPORT OF THE COMPTROLLER OF THE CURRENCY

65

National bank examiners—Continued
F. R.
Dist.
No.

2
7

5
3
12
3
10
9
9
4
7
11
3
9
4
10
1
5
10
12
10
4
1
12
4
11
12
6
11
12
6
5
3
5
2
2
12
10

Address

525 Federal Reserve Bank Building, New
York, N. Y.
Austin, James W. (JG)_- 164 West Jackson Boulevard, room 1203,
Chicago, 111.
Bailey, J. L
._
Post-office box 1185, Huntington, W. Va.
1414 Jefferson Building, Philadelphia, Pa.
Baker, William B
Baldridge, William H___ 403 Empire State Building, Spokane, Wash.
Barthe, Charles E
_ Post-office box 185, Reading, Pa.
Post-office box 940, Knoxville, Tenn.
Basham, A. A 525 Federal Reserve Bank Building, New
Beaton, Otis W
York, N. Y.
Becker, Edwin J., jr.(JG) 800 Federal Reserve Bank Building, Kansas
City, Mo.
Beise, S. Clark
17 Magill Block, Fargo, N. Dak.
4532 Grand Avenue, Minneapolis, Minn.
Bina, J. C
Bleakley, Benjamin J
Post-office box 151, Lima, Ohio.
Bly, J. Garver (REC)_._ First National Bank, Allegan, Mich.
Post-office box 1471, Abilene, Tex.
Boardman, Paul (JG)
Post-office Building, Wilkes Barre, Pa.
Boysen, Alfred
1334 First National Soo Line Building,
Bryan, Charles A
Minneapolis, Minn.
Byers, R. W
Post-office box 1058, Pittsburgh, Pa.
800 Federal Reserve Bank Building, Kansas
Campbell, George H
City, Mo.
Federal Reserve Bank Building, Boston,
Carolan, William B
Mass.
Sixth floor, Metropolitan Bank Building,
Carson, T. D
Washington, D. C.
Room 185, Treasury Department, WashCarter, Aubrey B. (U) _ _
ington, D. C.
800 Federal Reserve Bank Building, Kansas
Chapman, Edward L
City, Mo.
1103 Alexander Building, San Francisco,
Chorpening, I. I
„
Calif.
Post-office box 574, Hutchinson, Kans.
Clark, J. A. (JG)
Post-office box 1058, Pittsburgh, Pa.
Clarke, Addison A
Coffin, George M. (REC) First National Bank, Putnam, Conn.
Coffin, G. S
___ 1103 Alexander Building, San Francisco,
Calif.
Colley, Leon H
Post-office box 273, Salem, Ohio.
Collins, L. C
Federal Reserve Bank, Houston, Tex.
Cooke, A. J. (JG)
1103 Alexander Building, San Francisco,
Calif.
Cooney, D. H
715 Federal Reserve Bank Building, Cleveland, Ohio.
Cottingham, T. J
823 Age-Herald Building, Birmingham, Ala.
Cowan, David (REC).__ First National Bank of Las Vegas, East Las
Vegas, N. Mex.
Crawley, W. C
._._ 228 Post-office Building., Portland, Oreg.
Cunningham, F. F. (JG) 606 Fourth National Bank Building, Atlanta, Ga.
Dalton, John W
._ Post-office box 958, Charlotte, N. C.
Davenport, H. B_
Post-office box 61, Lancaster, Pa.
Davis, Thomas H
Post-office box 1162, Columbia, S. C.
Denton, Frank R
Post-office box 607, Albany, N. Y.
Detlefsen, E. O
525 Federal Reserve Bank Building, New
York, N. Y.
400 H. W. Hellman Building, Los Angeles,
Donahue, C. A. (JG)
Calif.
Donahue, W. H
.
Post-office box 186, Clinton, Okla.
Ashwood, Cecil




66

REPORT OF THE COMPTROLLER OF THE CURRENCY
National bank examiners—Continued

F. R.
Dist.
No.

1
9
8
2
7
8
11
6
4
9
11
2
2
10
1
7
7
3
4
4

11
12
4
12
1
5
1
4
3
7

11
10
12
9
10
2
9
10
1
11

Address

Federal Reserve Bank Building, Boston,
Mass.
1334 First National Soo Line Building,
Dougherty, J. M
Minneapolis, Minn.
1310 Federal Commerce Trust Building,
Drexel, Charles F
St. Louis, Mo.
525 Federal Reserve Bank Building, New
Dwyer, Thomas R
York, N. Y.
B-l Central National Bank Building, Peoria,
Dye, Sam W
111.
214 Federal Building, Evansville, Ind.
Elkins, Lewis R
1706 Republic Bank Building, Dallas, Tex.
Embry, Jacob
Post-office box 1828, Atlanta, Ga.
Evans, Clyde J
Post-office box 506, Richmond, Ky.
Faris, A. B
National Bank of Commerce, Pierre, S. Dak.
Fiman, C. F. (REC)
519 Bedell Building, San Antonio, Tex.
Foster, Charles W_.'
Foy, A. B
__ 525 Federal Reserve Bank Building, New
York, N. Y.
Do.
Francis, C. C
Room No. 2, King Building, Norfolk, Nebr.
Fraser, J. A
Freeman, O. M
89 Angell Street, Providence, R. I.
213 Federal Building, Des Moines, Iowa.
French, H. S
Fuller, Harry B
Post-office box 371, Grand Rapids, Mich.
1414 Jefferson Building, Philadelphia, Pa.
Funsten, William P
Furbee, Ernest M
Post-office box 1058, Pittsburgh, Pa.
Fulton, Ira J
715 Federal Reserve Bank Building, Cleveland, Ohio.
Care of Division of Insolvent National
Garrett, Robert D
Banks, office of Comptroller of the Currency, Washington, D. C.
Gilbert, H. B
Post-office box 318, Wichita Falls, Tex.
Glazier, Charles A
Post-office box 226, Provo, Utah.
Goodhart, R. W. (REC)__ Care of Division of Insolvent National
Banks, office of Comptroller of the Currency, Washington, D. C.
Graham, H. A
Post-office box 463, Columbus, Ohio.
Gray, W. M. (REC)
First National Bank, Joseph, Oreg.
Green, A. W (JG)
Federal Reserve Bank Building, Boston,
Mass.
Green, Charles W
Post-office box 752, Cumberland, Md.
Federal Reserve Bank Building, Boston,
Greene, Thomas M
Mass.
Griswold, W. C
413 East Winter Avenue, Newcastle, Pa.
Hart man, Charles H
1414 Jefferson Building, Philadelphia, Pa.
Harwood, Edward G. (JG) 164 West Jackson Boulevard, Room 1203,
Chicago, 111.
Hedrick, Gilbar C
1706 Republic Bank Building, Dallas, Tex.
800 Federal Reserve Bank Building, Kansas
Hewitt, Roland B
City, Mo.
Hooper, Marshall
238 Central Building, Seattle, Wash.
1334 First National Soo Line Building, MinHoover, Paul E
neapolis, Minn.
Horner, H. N
Post-office box 606, Norman, Okla.
Hotchkin, Paul L
326 Ten Eyck Street, Watertown, N. Y.
306 Dakota Bank Building, Aberdeen,
Huck, William F
S. Dak.
Coffeyville, Kans., Post-office box 462.
Hughes, J. G
Federal Reserve Bank Building, Boston,
Hurley, Michael J___
Mass.
Hutt, William E
Sherman, Tex.
Dooley, Thomas E




REPORT OF THE COMPTROLLER OF THE CURRENCY

67

National bank examiners—-Continued
F. R.
Dist.
No.

7
5
8
9
10
3
2
10
7
11
12
6
2
4
6
12
3
11
2
6
2

11
3
3
4
12
2
2
12
8
11
2
6
10
7
12
5
10
9
8
10
10

Address

Johnson, C. E. H
Johnson, Robin M. (REC)
Joseph, Edward M
Kane, T. F

331 Federal Building, Milwaukee, Wis.
Farmers National Bank of Hempstead, Tex.
Post-office box 589, Danville, 111.
Sixth floor, Metropolitan Bank Building,
Washington, D. C.
207 Federal Building, Louisville, Ky.
Kane, W. W., jr
Kelly, Burdette (REC). First National Bank, Torrington, Wyo.
875 South Williams Street, Denver, Colo.
Kennedy, L. G
Post-office box 32, Altoona, Pa.
Ketner, John H
20 Monroe Place, Port Chester, N. Y.
Klein, Benton
Lahman, H. S. (REC).. First National Bank of Milford, Milford,
Iowa.
—
*
213 Federal Building, Des Moines, Iowa.
Laird, H. A
Post-office box 667, Greenville, Tex.
Lamb, Ernest
1124 North Olive Street, Santa Ana, Calif.
Lamm, R. Foster.
Post-office box 1364, New Orleans, La.
Lammond, W. M_
525 Federal Reserve Bank Building, New
Lanning, L. C
York, N. Y.
Lanum, H. L
Post-office box 621, Cincinnati, Ohio.
Lifsey, W. P
. . . Post-office box 442, Albany, Ga.
228 Post Office Building, Portland, Oreg.
Linden, C O . (JG)
Loewer, Charles H. (JG). Post-office box 491, Williamsport, Pa.
1706 Republic Bank Building, Dallas, Tex.
Loftis, C. A
525 Federal Reserve Bapk Building, New
Lorang, P. J
York, N. Y.
Luiken, John B_
720 Bell Building, Montgomery, Ala.
525 Federal Reserve Bank Building, New
Luscombe, A. P_
York, N. Y.
1334 First National Soo Line Building,
Lytle, Frank SMinneapolis, Minn.
Post-office box 1584, Waco, Tex.
McCans, A. B
1414 Jefferson Building, Philadelphia, Pa.
McConaughy, R. C._
Do.
McGinnis, Francis J. (JG)
715 Federal Reserve Bank Building, CleveMcKee, Joel S
land, Ohio.
1103 Alexander Building, San Francisco,
McLean, Charles EL
Calif.
Macdonald, F. G_...
Post-office box 926, Buffalo, N. Y.
Machleid, C. J
612 Prospect Avenue, Brooklyn, N. Y.
Madland, L. L
238 Central Building, Seattle, Wash.
Mann, Stuart H
1310 Federal Commerce Trust Building, St.
Louis, Mo.
Post-office box 1223, Shreveport, La.
Marcom, Roy
Apartment 22, 502 West One hundred and
Marcuse, Benjamin.
fifty-second Street, New York, N. Y.
Post-office box 822, Nashville, Tenn.
Millard, S. T
800 Federal Reserve Bank Building, Kansas
Miller, Louis A
City, Mo.
Moon, Earl W
335 Federal Building, Rock Island, 111.
Morgan, C. E. (JG).
326 Yates Building, Boise, Idaho.
Motter, Charles W_.
419 Commercial National Bank Building,
Raleigh, N. C.
Murphy, Daniel F__
286 Harrison Street, Manchester, N. H.
202 Federal Building, Grand Island, Nebr.
Nelson, F. S
1334 First National Soo Line Building,
Nelson, Nels (JG) —.
Minneapolis, Minn.
Nieman, Roy E
1310 Federal Commerce Trust Building,
St. Louis, Mo.
800 Federal Reserve Bank Building, Kansas
Nomland, Harald
City, Mo.
Noone, D. L. (REC).
Union National Bank, Beloit, Kans.




68

REPORT OF THE COMPTROLLER OF THE CURRENCY
National bank examiners—Continued

F. R.
Dist.
No.

6
5

Address

Post-office box 1175, Lakeland, Fla.
Sixth floor, Metropolitan Bank Building,
Washington, D. C.
12
400 H. W. Hellman Building, Los Angeles
Palmer, R. E. A. (JG)—
Calif.
1
Federal Reserve Bank Building, Boston,
Parker, Edward F
Mass.
Pearson, Herbert (REC) National Bank of Franklin, Franklin, Tenn.
10 Penn, D. V. (JG)
Post-office box 545, Guthrie, Okla.
9 Penningroth, W. J
1334 First National Soo Line Building,
Minneapolis, Minn.
7 Potter, Fulton F. (REC)
First National Bank, Cumberland, Iowa.
164 West Jackson Boulevard, room 1203,
7 Powell, Charles E
Chicago, 111.
12 Price, A. E. (JG)
1107 Mattei Building, Fresno, Calif.
7 Quinn, H. F. (JG)
223 Ford Building, Detroit, Mich.
5 Ramsdell, P. C
Sixth floor, Metropolitan Bank Building,
Washington, D. C.
3 Ransom, Frank T
1414 Jefferson Building, Philadelphia, Pa.
1
2 Rasmussen, Frank E
525 Federal Reserve Bank Building, New
York, N. Y.
8 Reinholdt, C. A
4954 Lindell Avenue, St. Louis, Mo.
10 Rial, Benjamin P. (JG). > 800 Federal Reserve Bank Building, Kansas
City, Mo.
10 Riley, Jay*M. (REC)___ City National Bank, Bismarck, N. Dak.
11 Roberts, J. H
602 West Second Avenue, Corsicana, Tex.
11 Roots, J. O
Post-office box 1062, Austin, Tex.
10 Ross, M. A. (REC)
City National Bank, Kearney, Nebr.
Federal Reserve Bank Building, Boston,
1 Ryan, Frank J
Mass.
Sailor, Vance L
Rainwater Apartments, East Capitol Avenue, Little Rock, Ark.
Sanders, J. L
Post-office box 592, Indianapolis, Ind.
Schmidt, H. W. (JG).-- Post-office box 527, Rock Island, 111.
Schofield, John W. (U)_. 1539 Hay worth Avenue, Hollywood, Calif.
Sedlacek, L. H
1334 First National Soo Line Building,
Minneapolis, Minn.
9 Sevison, Henry
306 Torrey Building, Duluth, Minn.
12
1103 Alexander Building, San Francisco
Shapirer, Leo
Calif.
525 Federal Reserve Bank Building, New
Shea, L. A
York, N. Y.
2
Do.
11 Sheehan, W. F
1706 Republic Bank Building, Dallas, Tex.
3 Sibley, W. L. (JG)
Post-office box 981, Harrisburg, Pa.
4 Smith, George F
Post-office box 336, West Newton, Pa.
9 Smith, George H
Weiser, Idaho.
2 Smith, John H. (REC)... 525 Federal Reserve Bank Building, New
Smith, Robert F
York, N. Y.
10 Smith, Roy E. (REC) — First National Bank, Sterling, Colo.
2 Smouse, Murray C
525 Federal Reserve Bank Building, New
York, N. Y.
Snapp, John W
Sixth floor, Metropolitan Bank Building,
Washington, D. C.
Snyder, Vernon G
Post-office box 231, Sunbury, Pa.
1334 First National Soo Line Building,
Stevens, Lyle T
Minneapolis, Minn.
Stewart, Adelia M
Room 217, Treasury Department, office of
the Comptroller of the Currency, Washington, D. C.
Stewart, Charles A
Post-office box 63, East Falls Church, Va.
Northcutt, V. H
Ockershausen, F. C. (JG)




REPORT OF THE COMPTROLLER OF THE CURRENCY

69

National bank examiners—Continued
F. K.
Dist.
No.

Address

525 Federal Reserve Bank Building, New
York, N. Y.
Post-office box 313, Honolulu, Hawaii.
Lock box 450, Mandan, N. Dak.
Post-office box 498, Cheyenne, Wyo.
525 Federal Reserve Bank Building, New
York, N. Y.
164 West Jackson Boulevard, room 1203,
Chicago, 111.
715 Federal Reserve Bank Building, Cleveland, Ohio.
American National Bank Building, Billings,
Mont.
1103 Alexander Building, San Francisco,
Calif.
213 Federal Building, Des Moines, Iowa.
Marietta, Ohio.
Sheridan Apartments, Fort Wayne, Ind.
First National Bank, Allendale, S. C.
163 Henry Street, Kingston, N. Y.
Hotel Witter, Wisconsin Rapids, Wis.
213 Federal Building, Des Moines, Iowa.
525 Federal Reserve Bank Building, New
York, N. Y.
1103 Alexander Building, San Francisco,
Calif.
238 Central Building, Seattle, Wash.
715 Federal Reserve Bank Building, Cleveland, Ohio.
506 California Building, Denver, Colo.
114 North Munn Avenue, East Orange, N. J.
Commercial National Bank, Wilmington,
N. C.
400-401 H. W. Hellman Building, Los
Angeles, Calif.
Room 204, Treasury Department, office of
the Comptroller of the Currency, Washington, D. C.
Post-office box 477, Council Bluffs, Iowa.
107 Alta Vista Avenue, Waterloo, Iowa;
Pulaski National Bank Building, Pulaski,Va.
586 East Elm Street, Springfield, Mo.
228 post-office building, Portland, Oreg.
223 Ford Building, Detroit, Mich.
407 Central State National Bank Building,
Memphis, Tenn.

Stewart, H. E
9
10
2

Stobie, C. A
Storing, Charles C.(REC)
Stout, C. L_
Strite, K. D
Stuart, Robert K
Swensen, Loren T

..

Swords, George W.(REC)
12
7
4
7
6
2
7
7
2

12
12
4

Taylor, O. C. (JG)
Taylor, William
Thomas, T. C. (REC).__
Utt, John F
.
Vann, John R. (JG) (REC)
Von Arb, E. A
Walker, Harry W
Wanberg, Joseph F
Watts, John L
Weigand, Charles P
Welday, C. A. (JG) — - _
Whipple, A. P

10
2

White, O. W
Whitney, H. S
Williams, C. L. (REC).__

12

Williams, T. M
Wilson, C. F

7
7
5
8
12
7
8

Wilson, Edward B
Wilson, V. J
Wood, D. R
Woodside, Hal
Wright, E. M
Wright, Irwin D
Young, William R
I

(REC) = Acting as receiver of a national bank.
(JG) =National bank examiner, junior grade.
(TJ) =Unassigned.
CONVICTIONS OF NATIONAL BANK OFFICERS AND OTHERS FOR VIOLATIONS
OF THE NATIONAL BANKING LAWS DURING THE YEAR ENDED OCTOBER
3 1 , 1927

Information furnished by the Department of Justice relative to
convictions during the year ended October 31, 1927, of officers and
employees of national banks, and others, for violations of the national
banking laws, is shown in the following statement:




Criminal cases under the national banking laws resulting in convictions during the year ended October 81, 1927
Name of officer and others

Position

Title and location of the bank

E. J. Downey
Gurvis Hoftpauir
Stanley Hill
R. J. Cottle

Cashier
Teller
Discount t e l l e r Employe

First National Bank, Croton-on-Hudson, N. Y..
Merchants National Bank, Port Arthur, Tex
First National Bank, Wichita Falls, Tex
Albany National Bank, Laramie, Wyo
__.

S. L. Seaman
C. E. Southwick
Addison W. Milyard.
Earl Fambrough
W. H. Heggen
H. A. Early
T.John Hill
Clarke C. Nye
CarlH. Richter
J. E. Haynes
Clement L. Johnson..

Cashier
Assistant cashierBookkeeper
.do..
President
Cashier
Assistant cashier.
Cashier
Teller
Vice president
Runner

B. F. Beheimer-.

President

Union National Bank, Rochester, Minn
do.....
_
Alamosa National Bank, Alamosa, Colo
Georgia National Bank, Athens, Ga
First National Bank, Cambridge, Iowa
.do
„
..do..
First National Bank, Eureka, Kans
First National Bank, Trinidad, Colo
First National Bank, Mercedes, Tex
First National State Bank (Philadelphia
Branch), Camden, N. J.
First National Bank, Boise City, Idaho

H. M.Carson
W. G.Bryan
E. V. Brink
F. Edward Walker..
Carl G. Sauer

Cashier
do
do
Assistant cashier.
Bookkeeper

City National Bank, Whitesboro, Tex,
First National Bank, Avery, Tex
First National Bank, Buffalo, Okla
d
Phoenix National Bank, Phoenix, Ariz...

James A. McEniry..

Vice president—

Corona National Bank, Corona, Calif

Irving Jordan
Henry J. Trah, jr__.

do
Bookkeeper, savings
department.
Messenger
None
Teller..Paying teller.

.doFirst National Bank, Englewood, HL.

Louis Stefani___.
Frank Scholl
W. C. Spangler..
Frank Fidler
Eugene P. Saleski

Bookkeeper.

Des Moines National Bank, Des Moines, Iowa..
do
North Texas National Bank, Dallas, Tex
Bronx Office of Public National Bank, New
York, N. Y.
First National Bank, Meriden, Conn
_..,

Harry E. Jones
Frank A. Jaedel__
_.
Leo J. Ronk
J. P. Moore (alias J. P.
Harris).

Employee.
Cashier
Teller
Individualbookkeeper.

First National Bank, Biloxi, Miss
First National Bank, Eaton Rapids, Mich
First National Bank, Winnebago, Nebr
Exchange National Bank, Tampa, Fla




Sentence

False entries and abstraction
1 year and 1 day
Embezzlement
3 years (suspended).
False entries and embezzlement... 1 year and 1 day
Embezzlement, misapplication, 6 months in jail
and false entries.
Embezzlement and false entries.. 9 years and 8 months..
.do.
7 years and 6 months..
Misapplication
__. 30 days in jail
False entries
$300 fine.
Misapplication and false entries, $2,000 fine
.do
do.
$500 fine
.do..
False entries
$5,000
fine
__.
5 years, on probation.
Embezzlement
Misapplication and false entries. $2,500 fine
2 years, paroled
Embezzlement
False entries and embezzlement- 15 years and $5,000 fine
Misapplication and false entries.-.
False entries
False entries and misapplication._.
.do
Misapplication, abstraction, and
false entries.
Aider and abettor, false entries
and embezzlement.
False entries and embezzlement. _.
Embezzlement
-doAider and abettor, embezzlement _
Misapplication
__.
Embezzlement and false entries

-do...
_do_
Embezzlement and misapplication.
False entries and embezzlement. __

Embezzlement

_.._

Date of
sentence
1926
Nov. 3
Nov. 15
Nov. 17
Do.
Nov. 28
Do.
Dec. 2
Dec. 3
Dec. 5
Do.
Do.
Dec. 8
Dec. 11
Dec. 14
Dec. 15
Dec. 22

15 months
$500 fine
5 years and $5,000 fine..
2 years and $2,000 fine...
12 months in jail

1927
Jan. 4
Jan 5
Jan. 11
Do.
Jan. 25

Deferred 3 years

Feb.

2 ^ years
60 days in jail.
6 months in jail...
1 year and 1 day_
_
2 years
2 years (suspended on understanding of restitution.)
1 year in jail (suspended) and
$500 fine.
5 years (on probation)
1 year and 1 day
2 years (on probation)
1 year and 1 day (on probation).

Do.
• Do.

2

Feb. 8
Do.
Feb. 12
Do.
Feb. 23
Feb. 24
Mar. 4
Mar. 8
Mar. 11

Daniel P. Mulcahy..
R. F. Tucker
B.J. Shalhoub
Jonas F. Moyer.
Burtis A. Laub..
F. N. Cope
Elmer J. Lovel..
A, D. Johnston..
G. A. Kelley-...
Howard B. Smith
T. Campbell Holland..
David L. Oblinger
Charles E. Munger
C. L. Berger.
Oliver Dodge
Jacob W. Conner, jr..
Samuel Carlos Jones..
G. F. Stephenson
John Olson
John A. Keegler
Davis E. Larson
H. W. Sward
Gerald A. Waite..
Cecil L. Skinner..
Ted Cronek....
W. M. Barker..
Green Sneed.__.
Ora Bradley.
C. A. Lauber
F. Earl Joyce
C. M. Smith
E. T. Woodward
Daniel Kruger
Edison L. Wagner..„

Teller....
None

Alexander County National Bank, Cairo, HI—
do
-—

Individualbookkeeper
Assistant cashier
Cashier
Clerk

First National Bank, Jeffersonville, Ind__
National Bank of Commerce, Houston, Tex__.
First National Bank, Whiting, Ind
National City Bank, Cleveland, Ohio

Teller
do

Ogden National Bank, Chicago, HI
Sheffield National Bank, Sheffield, Ala
Lebanon National Bank, New York, N. Y_.

Assistant cashier
Cashier
„_
Assistant cashier.
I n d i v i d u a l bookkeeper.
Teller
„,..„
Cashier...... . . . „ _ . .
do

KarlEngler
Samuel Halliday.
George H. Coleman.....
I. C.Griffith
—_
M
H-» Joseph J. Chilla
___
to EarlW.Tite

Lehigh National Bank, Catasauqua, Pa
do
Utah State National Bank, Salt Lake City,
Utah.
First National Bank, Zeigler, Hl__..
First National Bank, Cheyenne, Wyo
_.
First National Bank, Talihina, Okla

Teller..

Cashier
do
Assistant cashier
Individual bookkeeper.
Cashier
Teller.
Assistant cashier
President..,
Cashier
Teller
Cashier

.do.
Manager, savings department.
Bookkeeper
President
Cashier.
_ Assistant cashier
Clerk...
Cashier
_
do
do
Teller




First National Bank, Mullins, S. C
Citizens National Bank, Waxahachie, Tex
First National Bank, Germantqwn, Ohio
Warren Narional Bank, Franklin, Ohio
.do..
National Stock Yards National Bank, National
City, HI.
Farmers National Bank, Newport, Ark
.do.
National Bank of Athens, Athens, Ga
First National Bank, Forest City, Iowa
First National Bank, Seymour, Ind
Live Stock National Bank, Omaha, Nebr
Chowchilla National Bank, Chowchilla, CalifFirst National Bank, Springfield, Vt
First National Bank, Tulsa, Okla
Portland National Bank, Portland, Oreg
First National Bank, Grey Eagle, Minn
First National Bank, Ullin, 111.
First National Bank, Willisville, 111
First National Bank, Savannah, Mo
Torrington National Bank, Torrington, Conn..
Farmers National Bank, Greensburg, Kans
First National Bank, Martinsville, Ind
Waukegan National Bank, Waukegan, 111
McKeen National Bank, Terre Haute, Ind

Misapplication and false entries
Aider and abettor, misapplication
and false entries.
Abstraction
Embezzlement
_
do.
do

30 days in jail and $500 fine.„ Mar. 14
$500
fine
Do.
2 years.
.do.
3 years
17 months

Mar.
Mar.
Mar.
Apr.

.do.,
-doEmbezzlement, abstraction, and
misapplication.
Misapplication
do

1 year and 1 day.
15 months
1 year and 1 day -

Apr. 5
Apr. 11
Apr. 12

Embezzlement
Misapplication and abstraction
False entries, misapplication, and
embezzlement.
Misapplication
Embezzlement
False entries
do
do
Misapplication and embezzlement.

9 years and $5,000 fine
$300 fine.
12 months in jail and $500
fine.
2 years
15 months
30 days in jail
do.
.do_.
4 years.
1 year and 1 day__
do
__
10 years
_
2 years
2 years (suspended)
$100 fine _
3 years (probation) and
$9,900 refund.
5 years
6 months in jail (suspended)
and $250 fine.
6 months in jail
5 years
._
30 days in jail and 2 years on
probation,
.do.
5 years (on probation)
18 months
_.
1 year and 1 day
1 year and 1 day (suspended).
1 year and 1 day
_.
3 years and $1,000 fine

8 months in jail _
6 months in jail (on probation).
Embezzlement and false entries... 18 months

Embezzlement
do
.._
__
Misapplication and embezzlement.
False entries and embezzlement...
Embezzlement
Abstraction
__
Misapplication
Embezzlement..
MisapplicationEmbezzlement
-__
do
Embezzlement and false entries...
Embezzlement
Misapplication and false entries...
Defalcation. _
Misapplication and false entries...
Embezzlement
(Not given)
Embezzlement and false entries. _.

18
19
22
1

Apr. 14
Do.
Apr. 23
Apr. 26
Apr. 28
Apr. 29
May 1
May 12
May 20
Do.
Do.
May 23
May 24
Do.
June 6
June 15
June 18
June 25
June 30
July 1
July 16
July 19
Aug. 29
Sept. 6
Sept. 14
Sept. 19
Oct. 3
Oct. 8
Do.
Oct. 14
Oct. 21

Criminal cases under the national banking laws resulting in convictions during the year ended October 81, 1927—Continued

to

CONVICTIONS PRIOR TO OCTOBER 31,1926, ADVICE OF WHICH WAS NOT RECEIVED IN TIME TO INCLUDE IN THE REPORT FOR THAT DATE
Position

Name of officer and others

Philip A. Smardon
Edward Eiermann
Abraham Finkelstein
H. H. Pelhank
Aaron S. Morrison
W. J. McLendon, jr
Paul Trudeau
Clement S. Stewart
Charles J. Cresanti
John Martin Ramsey
Edward W. Groves

Paying teller
Clerk

Title and location of the bank

Offense

First National Bank, Portland, Oreg_ False entries
_
Whitney-Central National Bank, New Orleans, Abstraction
Misapplication. _
__.
Public National Bank, New York, N. Y
do
First National Bank, Bank, Philadelphia, Pa._ Embezzlement and false entries . _
Tradesmen's NationalEldorado, IllFirst National Bank, Columbus, Ga
_. (Not given)
_
_.
National Bank of Middlebury, Middlebury, Vt_ Embezzlement
Abstraction
First National Bank, Tyrone, Pa
_

Sentence

4 years
._
Sentenced and placed on
probation 5 years.
2 years (suspended)
Ledger clerk
5 years and $10,000 fine
President.
2 years
_
_
Teller
4 years
do
2 years
__ Employee
Sentenced and paroled 2
Bookkeeper
years in custody of Mr.
Cotton.
2 years; to serve 3 months
General bookkeeper.. _ Harlem office of Bowery and East River Na- Embezzlement
and rest of time suspended.
tional Bank, New York, N. Y.
National Bank of Petersburg, Petersburg, Va . _ Embezzlement and false entries._. 1 year and 1 day.._
Savings teller
Assistant cashier and First National Bank, Marietta, Ga
Embezzlement
.- 4 years, probational, to report every 60 days to
teller.
Deputy Marshal John R.
Barclay.




Date of

sentence
1926
Apr. 14
June 17

1

Sept. 2
Sept. 20
Sept. 22
Sept. 23
Oct. 13
Oct. 14

3
a

o
Oct. 21
Oct. 28
Oct. 30

o

E

FEDERAL RESERVE BANKS
Assets and liabilities of the 12 Federal reserve banks combined, as of the last weekly statement date in October, from 1918 to 1927
[In thousands of dollars]
Oct. 25,1918 Oct. 31,1919 Oct. 29,1920 Oct. 26,1921 Oct. 25,1922 Oct. 31,1923 Oct. 29,1924 Oct. 28,1925 Oct. 27,1926 Oct. 26,1927

O

ASSETS

Gold reserves
Other cash reserves
Nonreserve cash
Bills discounted
Bills bought in open market
United States Government obligations
Other bills and securities
Uncollected items
All other assets
Total

_

_.

—

2,045,132
53,037
0)
1, 546,164
350,311
24
856, 923
20, 571

2,138,000
67,592

2,003,320
164,718

2,786,239
150,909
1

3,085,093
126,835
469,399
257,691
408,636
27
653,483
63,931

C)

2,128, 547
394,355
301,254

2,801,297
298,375
296,371

875, 037
34, 559

742,976
34,550

1,308,749
62,316
190,946
10
540,067
55,679

3, 111, 078 3,043,826
80,067
87,768
39,152
42,300
883,800
222, 565
204,698
215,404
91,837
584,200
317
2,007
611,271
611, 709
69,047
87,490

2, 782, 549 2,823,327
110,511
130,750
52,932
52,841
631,923
328,717
307,541
324, 757
300,174
6,619
2,500
684,027
693,558
80,317
74.449

2,956,552
135,793
61,137
402,398
301, 111
510,630
620
688,277
73,497

5,270,785

5,939,344

6,341,607

5,094,915

5,065,095

5,091,267

4,897,269

4,960,423

5,017,063

5,130,015

2, 507,912
58,859

2,752, 876
254, 933

3,351,303
214,961

2,408,779
88,024

2,298, 536
37,995

2,224,865
523

1, 766,622

1,694,771

1,730, 511

1,833,481
100,465
97,843

1,805,661
18, 754
21,307
571, 807
97, 753
164, 745
95,316

1,669,059
46,624
22, 873
466,044
103, 007
213, 824
76, 681

1, 799,931
23,659
18,180
539,773
106,277
215,398
25,346

1,895,265
40,334
23, 061
555,914
109, 726
218,369
23,210

2,162,347
28,266
27,351
566, 510
111, 953
220, 915
13, 305

2,227,212
38,670
* 31,382
617,350
116, 602
217, 837
16, 599

2,216,896
38, 546
25,689
638,465
124,392
220,310
22,254

2,351,870
19,294
32,287
646,615
131,293
228,775

5,270, 785

5, 939,344

6,341,607

5,094,915

5, 065, 095

5,091,267

4, 897,269

4,960,423

5,017,063

5,130,015

i

1,702,999

1,683,499
78, 218
117,001
702,107
79,190
1,134
42,865

a.

LIABILITIES

Federal reserve notes in circulation
Federal reserve bank notes in circulation—net liability.
Deposits:
Member bank—reserve account
Government
Other
Deferred availability items
_
Capital paid in
Surplus
All other liabilities-..Total
1

-

Not shown separately prior to 1923.




86,013
81,087
38,880

3

74

REPORT OF THE COMPTROLLER OF THE CURRENCY

Principal assets and liabilities of the 12 Federal reserve banks combined, on the
last weekly statement date in each month, from January, 1928, to October, 1927
[In millions of dollars]

Liabilities
Bills and securities
Bate

1923
Jan. 31Feb. 2 8 Mar.28.
Apr. 25..
M a y 29..
June 27..
July 2 5 Aug. 29 _.
Sept. 26.
Oct. 3 1 . .
Nov. 28.
Dec. 2 6 1924
Jan. 30.
Feb. 27...
Mar. 26..
Apr. 30—
May 28-.
June 25...
July 30—
Aug. 27_.
Sept. 24..
Oct. 29—
Nov. 26..
Dec. 31—
1925
Jan. 28Feb. 25
Mar. 25
Apr. 29
M a y 27
June 24
July'29
Aug. 26
Sept. 30
Oct. 28
Nov. 25
Dec. 30
1926
Jan. 27
Feb. 24
Mar. 31
Apr. 28
.M a y 26
June 30
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 29
1927
Jan. 26Feb. 23..
Mar. 30..
Apr. 27..
M a y 25..
June 29..
July 27.Aug.31..
Sept. 28.
Oct. 2 6 -

Reserves
Deposits

United
Bills States
Bills bought Governdis- in open ment Total i
counted market securities

Gold

Total notes in Memcirculabers' Total
tion
reserve

354
363
249
194
189
135
96
94
92
92
84
104

1,140
1,167
1,204
1,104
1,178
1,114
1,034
1,083
1,126
1,181
1,168
1,298

3,076
3,073
3,064
3,085
3,109
3,111
3,114
3,121
3,117
3,111
3,112
3,071

3,227

597
596
700
637
731
775
761
816
862
884
794
857

208
254
274
258
204
177
173
172
205

Federal

3,176
3,179
3,195
3,202
3,200
3,201
3,193
3,191
3,197
3,138

2,204
2,247
2,232
2,223
2,250
2,227
2,195
2,225
2,248
2,225
2,246
2,340

1,913
1,888
1,871
1,854
1,874
1,868
1,839
1,849
1,852
1,895
1,881
1,874

1,991
1,952
1,976
1,909
]L,952
:L, 937
L,897
1,908
1,930
L, 959
1,939
1,938

lapital
and
surplus

327
327
327
328
328
328
328

328

522
532
482
447
430
350
294
263
260
223
221
314

272
263
202
124
87
45
24
49
92
215
281
387

121
156
257
302
333
430
505
542
575
584
582
540

915
951
942
873
850
826
825
855
928
1,024
1,087
1,249

3,143
3,123
3,123
3,120
3,118
3,156
3,155
3,115
3,069
3,044
3,046
2,937

3,223
3,223
3,214
3,271
3,260
3,202
3,156
3,132
3,134
3,047

2,023
2,022
1,983
1,926
1,891
1,844
1,762
1,741
1,730
1,767
1,845
1,862

1,928
1,927
1,912
1,945
1,936
2,035
2,087
2,082
2,120
2,162
2,148
2,220

1,991
1,986
2,007
2,005
1,997
2,108
2,165
2,150
2,196
2,218
2,203
2,311

274
434
378
400
414
455
468
580
633
590
625
750

308
317
307
267
278
242
210
202
268
329
359
363

394
365
344
349
349
325
330
332
343
325
332
377

1,130
1,041
1,028
1,054
1,034
1,021
1,126
1,257
1,250
1,326
1,501

2,939
2,894
2,867
2,851
2,838
2,811
2,791
2,762
2,760
2,783
2,746
2,704

3,030
3,008
2,993
2,982
2,959
2,937
2,888
2,866
2,893
2,861
2,822

1,684
1,729
1,709
1,684
1,671
1,634
1,598
1,616
1,685
1,695
1,732
1,835

2,172
2,208
2,119
2,135
2,138
2,140
2,153
2,183
2,210
2,227
2,220
2,309

2,265
2,270
2,184
2,187
2,202
2,210
2,201
2,237
2,268
2,297
2,291
2,357

449
540
632
514
474
515
521
571
717
632
628
711

295
304
250
199
239
249
211
255
276
308
341
379

365
331
330
389
395
385
369
321
302
300
300
317

1,119
1,185
1,226
1,114
1,119
1,158
1,106
1,150
1,298
1,242
1,271
1,410

2,801
2,767
2,767
2,797
2,816
2,835
2,851
2,841
2,807

2,953
2,917
2,920
2,954
2,975
2,980
2,999
2,978
2,937
2,954
2,958
2,944

1,667
1,679
1,656
1,662
1,673
1,697
1,671
1,693
1,716
1,731
1,774
1,857

2,217
2,203
2,215
2,203
2,195
2,229
2,205
2,204
2,249
2,217
2,202
2,264

2,272
2,262
2,323
2,242
2,243
2,260
2,261
2,258
2,330
2,281
2,262
2,346

339
340
341
342
343
343
343
344
344
345
345
345

365
398
456
444
429
477
398
401
480
402

302
280
237
242
236
216
169
185
242
301

303
305
353
318
322
376
385
473
494
511

972
985
1,049
1,006
989
1,071

2,967
2,983
3,022
3,041
3,012
3,021
3,023
2,998

3,133
3,141
3,183
3,207
3,178
3,184
3,181
3,146
3,126
3,093

1,688
1,708
1,711
1,718
1,706
1,703
1,662
1,676
1,706
1,703

2,192
2,166
2,274
2,270
2, 268
2,342
2,282
2,299
2,337
2,352

2,245
2,215
2,328
2,314
2,326
2,399
2,330
2,341
2,390
2,404

354
355
356
358
358
358
359
360
360
360

954
1,059
1,168
1,215

2,830
2,815

2,957

3,263

331
332
332
332

333
333
330

331
332
333
333
333
334
334
334

i Includes (in addition to bills discounted and bought and United States securities) municipal warrants*
Federal intermediate credit bank debentures, and foreign loans on gold.




REPORT OF THE COMPTROLLER OP THE CURRENCY

75

Percentage of bills discounted secured by United States Government obligations to
total bills discounted and purchased by Federal reserve banks at the end of each
month, year ended October 31, 1927
[In thousands of dollars]

Date

1926

Nov. 30
Dec. 31
Jan. 31
Feb. 28
Mar. 31
Apr. 30
May 31
June 30
July 3 1 - . . .
Aug. 31
Sept. 30
Oct. 31
_

_.
1927
„.

_

..

Discounted
bills secured
by United
States
Government
obligations

Total
holdings of
discounted
and purchased bills

Percentage
of discounted
bills secured
by Government
obligations
to total
holdings of
discounted
and purchased bills

370,349
365,280

1,026,429
1,017,614

36.1
35.9

238,527
280,149
242,113
295,956
239,170
245,366
253,740
217,813
230,140
241,180

746,213
765,656
689,999
714, 982
686,665
654,035
614,241
585,652
687,261
753.145

32.0
36.6
35.1
41.4
34.8
37.5
41.3
37.2
33.5
32.0

FEDERAL RESERVE BANK DISCOUNT RATES

The discount rates of each of the 12 Federal reserve banks in effect
November 1, 1927, the date established and the previous rate with
respect to all classes and maturities of eligible paper are shown in the
following statement:
Rates on all classes and maturities of eligible paper

Federal reserve bank
Boston
New York....
Philadelphia.
Cleveland
Richmond.
Atlanta
Chicago
St. Louis
Minneapolis. .
Kansas City..
Dallas
San Francisco

Rate in
effect on
Nov. 1

Date established

Previous
rate

A u g . 5,1927
do.

3
Sept. 8,1927
3 _ Aug. 6,1927
Aug. 16,1927
1XA Aug. 13,1927
v/2 Sept. 7,1927
Aug. 4,1927
VA Sept. 13,1927
3> July 29,1927
Aug. 12,1927
Sept. 10,1927

DISCOUNT RATES PREVAILING I N FEDERAL RESERVE BANK AND BRANCH
CITIES

In the table following, prepared by the Federal Reserve Board
and published in the Federal Reserve Bulletin for November, 1927,
the rates shown are those at which the bulk of the loans of each class
were made by representative banks during the week ending with the
15th of the month. Rates reported by about 200 banks with loans
exceeding $7,500,000,000:



Federal reserve bank cities
Month

Boston

New York

Philadelphia

Cleveland Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas
City

Dallas

San Francisco

PRIME COMMERCIAL LOANS

5
5
5
5
5

6
6
5 -6
5 -6

-6
-6
-6
-6
-6

5
5
5
5
5
5

1926—October—.
November.
December.
1927—January—
February-.
March
April
May
June
July
August
September
October...

-6
-6
-6
-6
-6
-6

5 -6
5 -6
4^-6
5 -6

4^-5

5
5
5
5
5

-5
-5
-6
-6
-6

5
5
5
5
5
5
5

-6
-6
-6
-6
-6
-6
-6

4 -6

LOANS SECURED BY PRIME STOCK EXCHANGE COLLATERAL

5 -6

1927—April
May
June
July
August
September
October.._

5 -6
5 -6

5
5
5
5
5
5
5

-6
-6
-6
-6
-6
-6
-6

4M-5
4^5

LOANS SECURED BY WAREHOUSE RECEIPTS

1927—April
May,.._
June
July
August.—
September
October...




5 -6
5 -5H
5 -6
5 -6
5 ^6

6
5 -6
5 -6
6
6
5 -6

5
5
5
5

—6
-6
-6
-6
5
5 -6
5 -6

5 -6
5 -6
5 -6
-6
-6
-6
-6

5
5
5
5
5
5
5

-7
-6
-7
-6
-6
-6
-6

INTERBANK LOANS

5
5
5
5
5
5
5

1927—April
May
June
July
August
September.
October. _.

-6
-6
-6
-6
-6
-6
-6

5
5
5
5
5
5
-6

5 -5H
5
5
5
5
5
5

5
5
5
5
5

-6
-6
-6
-6
-6
-6
-6

Federal reserve branch cities
Loans secured by prime stockexchange collateral

Prime commercial loans

Loans secured by warehouse
receipts

Interbank loans

City
September

August
Buffalo
Cincinnati
Pittsburgh
Baltimore
Birmingham
Jacksonville
Nashville
New Orleans
Detroit
Little Rock . _
Louisville
Helena
Denver
Oklahoma City
El Paso
Houston
San Antonio
Los Angeles
Portland
Salt Lake City
Seattle . .
.
Spokane

5 -6

5 %i

5
5
5
5
5
5

5 -6
5 -6
5 -€
8
5 -6
5 -6

.




H

-6
-6
6
-6
-6
-6
-6
8
4 -6
5 -6

5 -6
6

^8
5 -6
4^-6
6
6
6
6
6 -7

5

4

August

5 -6

5*4-6

October

September

5 -6
5 -6

2

5 -6
5 -6
6
5 -6
5 -6
8
6
5 -6
434-6

5 -6

5 -6

6
6
6
6

6 4 -7
# 6
6
6
6

2

5 4 -6 2
5 -8
6

5 -6
6 -8
6 -7
6
6
6 -7
6

-6
-53^
-6
-6
6
5 -8
6
5' 2 -6
6 -7
5 -6
8

5 -6
6 -7
5 -6
8
6

5
5
5
5

2

5
6
5
6
6

-6
-8
-6
-8
-7
6
6
6 -7
6

October
5 -6
5 -6
434-6
6
5 -8
6
534-6
434-6
6-7
5 -6
8

71
5 -6
6 -8
6 -7
6
6
6 -7
6

August
6
6 -7
6
6 -8
5^-6
5 -6
5 -6
6 -7
6
6 -8
534-8
6
5 -6
7 -8
5 -7
7 -8
7
6 -7
7
6 -7
6 -7

September
6
5 -7
6
534-6
6
6 -8
534-6
5 -6
5 -6
6 -7
6
6 -8

?$*
5 -7
6 -8
6 -7
6 -7
7
6 -7
7

October

August

6
6 -7
6
6
6
6 -8

5 -6
534-6
5 -6
6

53^-6
6 -7
6
6 -8
53^-7
6
6 -&y2
7 -6
5 -8
6 -8
6 -7
6 -7
7
6 -7
7

September

5

5

5*1i

5 -6
5^-6
5
6 -8

6
6
6
5
434-5
6
6
6
6
6

2

5 -6
5 -6
5 -6
6
53^-6
5 -5H
5 -6
5 -6
5
6 -8
6 -63^
6
6
5
5 -6
6
6
6
6 -Wo

October
5
5 -hV>
/2

5 -6
5 -6
6

5 -6
5 -5x4
534-6
5
6 -8
6

2

6
5
5 -6
6
6
6
5 -6H
6

78

EEPORT OF THE COMPTKOLLEB, OF THE CURRENCY
RATES FOR MONEY IN NEW YORK

The range of rates for various classes of paper in the New York
money market in the year ended October 31, 1927, together with
information in relation to the range of rates in New York since 1918,
is shown in the following statements, furnished by the Financial and
Commercial Chronicle.
The low point in the rate of call loans was 33^ per cent and the
high point was 5 per cent. The range during the month of October
was from 3 Y2 to 4 Y2 per cent.
The low point of time loans (60 days) was 3 % per cent, and during
October the range was from 4 to 4}4 per cent.
Choice commercial paper in the year ranged from 3 % to 4J^ per
cent, and in October was 4 per cent.
The rates for sterling bills, sight and cable transfers, ranged from
$4.84 in November, 1926, to $4.87Ji in October, 1927. The high
point in sight bills was $4.86% in October and the low point $4.84
in November, 1926. Cable transfers likewise were the highest at
$4.87yi in October, and the low point was $4.84J^ in November
last year.
Rates for money in New York
1926
November

1927

December

Call loans, stock exchange:
Range
Time loans:
60 days
90 days
4 months
5 months
6 months.
Commercial paper:
Choice, 4 to 6 months.
Good, 4 to 6 months

January

February

March

April

September

October

4 -5

1927—Continued
May
Call loans, stock exchange:
Range..
Time loans:
60 days
90 days
4 months
5 months
6 months
,
Commercial paper:
Choice, 4 to 6 months.
Good, 4 to 6 months...




June

July

August

REPORT OF THE COMPTROLLER OF THE CURRENCY

79

Rates for sterling bills
[ R a n g e for m o n t h ]
60-day *

Sight

192G

$4.84 -$4.84H
4.84^-4.85^

November..
December..

January
February. _.
March
April........
May..
June
July
August.....
September..
October

1927

1

60-day bankers* bills no longer quoted.




4.85
4.84&
% 4.85M
4.85 - 4.85&
4.84&-4.85H
485^g 4 8 " "

Cable transfers

$4.8 . . .
4.84if- 4.!

Comparison of the range of rates for call loans, 60-day time loans, and choice commercial paper loans in New
York annually for 1918 to 1927 is shown in the statement following:

1

Range of rates for money in New York annually, 1918 to 1927
1918

1921

1920

1919

1922

Range Range
Range
Range Range
Range Range
Range
Range Range
High Low for DeHigh Low for DeHigh Low for DeHigh Low for Defor
for
High Low forDe
for
for
for
cember January
January
cember January
cember
cember January
cember January
Call loans.
Time loans (60 days)
C o m m e r c i a l paper
(choice)

5 -6

6

2
5

30
3%-6
5 —5J^ 7
5 -5%

6

2 534-25
5 6 -7
5 5^-6

1923

6

6-20
7- 8

25

6

8

5 6 -7
7 7 -7M
6

7^-8

6 -8
6 -7H

9

734-8

8

1925

1924

5
5

2

434-6
5 -h\i

3 -6

5 -534

6

3^-4

f%

1927

1926

Range Range
Range
Range Range
Range
Range Range
Range Range
High Low for DeHigh Low for DeHigh Low for DeHigh Low for Defor
for
for
for
for
High Low for Occember January
tober
cember January
January
cember January
cember January
Call loans.
Time loans (60 days)
C o m m e r c i a l paper
(choice)

43^5




2

6

I

6
5

434-6
4^-5
4^-5

4^-5

2 234-5
2 2 -Z%

5

3

2 -5H

6
5

2

4 -6
434-5

3H

4 -AYi

6

3

434-6

4 -5
4^-4%
4 -4H

5

33^
4

REPORT OF THE COMPTROLLER OF THE CURRENCY

81

NEW YORK CLEARING HOUSE

The figures compiled and furnished by Mr. Clarence E. Bacon,
manager, New York Clearing House Association, for the year ended
September 30, 1927, disclose there were 31 banks comprising the
New York Clearing House Association, with capital of $391,400,000.
Clearings amounted to $307,158,631,043, which was an increase of
$13,715,^g4,128 in the year, and balances were reported aggregating
$34,669,579,273, as compared with $32,197,090,792 on September 30,
1926. The average daily clearings were $1,013,724,855, and the
average daily balance $114,421,054. The percentage of balances to
clearings was 11.28.
CLEARING-HOUSE ASSOCIATIONS I N THE 12 FEDERAL RESERVE BANK CITIES
AND ELSEWHERE

Clearing-house transactions in the 12 Federal reserve cities in the
year ended September 30, 1927, aggregated $439,716,841,000, and
exceeded by $12,573,422,000 the amount reported in the previous
year. The ratio of clearings by banks in the 12 Federal reserve bank
cities was 80.84 per cent of the total clearings of all banks in 230
reporting cities in the United States, in comparison with a ratio of
79.61 per cent last year.
Clearings of banks in 24 other principal cities, each of which had
clearings in excess of $1,000,000,000, aggregated $70,527,825,000,
and showed a decrease of $715,182,000 in clearings of the same
cities since the year ended September 30, 1926. The total clearings
of the 230 cities reporting to the New York Clearing House Association in the year amounted to $543,955,530,000, as compared with
$533,077,499,000 reported by these cities a year ago.
Tables showing the following information are published in the
appendix of this report: Comparative statement of the New York
Clearing House, annually since 1854; comparative statement of the
transactions of the New York Clearing House in years ended September 30, 1927 and 1926; exchanges, balances, and percentages of
balances to exchanges, etc., by the New York Clearing House annually since 1893; comparative statement of the exchanges of clearing
houses of the United States by cities, for years ended September
30, 1927 and 1926, and comparative statement of transactions of
clearing-house associations in the 12 Federal reserve bank cities and
elsewhere, in years ended September 30, 1927 and 1926.
BANKS OTHER THAN NATIONAL

Through the cooperation and courtesy of officials of banking departments of the various States, Alaska, and insular possessions, the
comptroller is enabled to present in this report, as required by section 333, Eevised Statutes, statistics in relation to each class of
reporting banks other than national,




Officials of State banking departments and number of each class of banks under their supervision in June, 1987, from which reports of condition 00
to
were received
Banks
States, etc.
Names of officials

"Rank" nnmTTiispinpp.r
John G. Smith
do
Arthur E. Dole
nrvmTm'ssifYnpf of h a n k i n g
Robert C. Clark
Roy A. Hovey
Commissioner of banks
George H. Newhall... St.fitft h a n k nnm mission AT
J. B. Byrne
do

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States
New York
New Jersey
Pennsylvania
Delaware
Maryland . . .
District of Columbia
_
Total Eastern States
Virginia
. .
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Total Southern States




State
(commercial)

Titles

.,.

Loan
and
trust
companies

Stock
savings

Mutual
savings

Private

Total

35
53
19
196
11
75

18

87
68
59
289
24
185

3

_,
_

52
15
40
93
10
92
302

389

18

712

255
36
294
9
116

130
204
425
29
29
7

149
27
9
2
15

63
9
43

23

597
277
772
40
160
30

710

824

25

202

115

1,876

and insurance

..

Frank H. Warder
RiippriTitPTifiPTit, b a n k i n g dopartTTient
Commissioner, department of banking and insuranceE dward Maxson
Secretary, department of banking.
_
Peter G. Cameron
Harold W. Horsey - State bank commissioner
._
George W. Page
do

Myron E. Bristow
Chief examiner of banks
-.f]r>TnTpissir>ripr of b a n k i n g
H A Abbott
John Mitchell
Chief State bank examiner
Albert S Fant
Ptfttf- b p n k p.TarninPT*
A. B. Mobley
_. Superintendent of banks
Ernest Amos
Comptroller, State of Florida
_
C. E. Thomas
Superintendent of banks
do
J S Love
J. S. Brock
State bank commissioner
Commissioner, department of banking . . .
James Shaw
Onmmisfdorip.r Sta^A b a n k i n g dftpaxt/mp/nt
Walter E Taylor
C. E. Marvin.
Commissioner, department of banking and securities..
S. S. McConnell
Superintendent of banks.—

3

330
217
463
215
388
194
251
312
200
767
374
448
416
4,575

1
1

1
68

3

1

10
2

330
217
463
216
388
265
251
312
200
777

376

448
416
68

3

13

4,659

3
S

Ohio
Indiana
Illinois
Michigan.. . . . . _ .
Wisconsin
Minnesota
Iowa .
Missouri

.-

„.. E. H. Blair.
Tinthftf F Rymons
Oscar Nelson
R. E. Reichert
C. F. Schwenker
A. J. Veigel
L. A. Andrew
S. L. Cantley

Superintendent of banks
•
Bank commissioner
Auditor of public accounts
.
Commissioner, State banking department
CoTmrnssionp.r of ban king
Commissioner of banks
Snpp.rintp.ndp/nt, dApa.rtmp.nt of banking
Commissioner of finance. _
I

...
..

Gilbert Semingson
F. R. Smith__
Clarence G. Bliss
_. Roy L. Bone.
Jay G. Larson
Stanley A. Brown
Grant McFerson
T^awrpncp. A. Tammp,
0. B. Mothersead

State bank examiner
Superintendent of banks
Secretary, bureau of banking
Bank commissioner
Superintendent of banks

H. C.Johnson
A. A Schramm _
Will C Wood
E. W. Porter
Seth Pixton
True Veneill
__ A. T. Hammons

Supervisor of banking

.

St.at.A b a n k
fiTaminpr
Rf.atft b a n k p - o m m i s s i o n A r
Rtat-fi b a n k p/yanninp.r

.
......

..
_

. _..

Total Western States
Washington .
Oregon
California
Idaho
Utah
Nevada
Arizona

3
5

176
22
13
18
13
111

1
732

6,352

Total Middle Western States....
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma

653
527
1,353
583
797
894
353
1,192

353

737

386
306
857
898
134
57
159
30
346

3
5
18

4

.
__ _ _

W. G. Smith

Secretary, Territorial banking board
Governor of Hawaii

._

5
5
34

5
54

4
2
50

63

13
10

302

7,765

153

7
2
1
1

389
319
872
923
136
58
173
30
346

,19

3,246

3
1

827
_

39

153
1

727
832
1 353
662
817
919
1,151
1,304

8

13

239
148
215
92
80
22
31

Total Pacific States
Alaska..
The Territory of Hawaii

21

15

3,173

do
Commissioner, department of finance
State bank commissioner
State bank p.xaminp.r
. - . r........
Superintendent of banks

7
6

71
124

11

15
5

249
158
304
92
87
25
31

1

6

946
13
21

Philippines.-

Insular treasurer

12

12

Porto Rico

Treasurer

15

15

Total Alaska and insular possessions
Total United States and insular
possessions..
.,..
»Not under State supervision.




50

11

15,690

1,647

61
843

618

467

19,265

84

REPORT OF THE COMPTROLLER OF THE CURRENCY
STATE (COMMERCIAL) BANKS

The total resources of 15,690 State (commercial) banks aggregated
$16,564,988,000 on June 30, 1927, and showed a decrease of $14,668,000 from the resources of 16,493 reporting banks on June 30,
1926.
Loans and discounts were $9,534,915,000, a decrease in the year of
$168,333,000, while investments of $3,391,212,000 were greater by
$170,812,000.
Banking house, furniture and fixtures increased in value $7,864,000,
their reported value in the current year amounting to $462,665,000.
Other real estate owned likewise increased from $152,115,000 to
$152,416,000.
Due from banks, $1,101,279,000, showed an increase during the
year of $55,574,000; lawful reserve, $698,063,000, a reduction of
$79,367,000; checks and other cash items, $282,338,000, an increase
of $20,791,000; and exchanges for clearing house, $121,967,000, a
decrease of $39,658, 000. Cash on hand, $413,739,000, and other
resources, $377,102,000, showed increases of $8,367,000 and $15,176,000, respectively.
The capital stock of these associations was $1,078,087,000, compared with $1,092,424,000 the year previous, or a decrease of $14,337,000. Surplus, $735,949,000, and undivided profits, $270,096,000,
were increased in the 12-month period $39,048,000 and $15,329,000,
respectively.
Total deposits aggregated $13,751,996,000. Included in deposits,
are amount due to banks, which increased $48,271,000, and certified
and cashiers' checks outstanding, which likewise increased in amount
$97,587,000. Individual deposits, including postal savings, were
reduced $221,485,000, and United States deposits, $5,485,000, were
less by $5,214,000 than this item a year ago.
Notes and bills rediscounted, $53,360,000, and bills payable,
$214,535,000, showed reductions in the year of $15,178,000 and
$33,131,000, "respectively. Other liabilities were increased by $74,442,000.
A summary of the resources and liabilities of State (commercial)
banks, on the date indicated, follows:
Summary of reports of condition of 15,690 State {commercial) banks in the United
States at the close of business June 80, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real
estate)
247,380
On demand (not secured by collateral)
65, 626
On time (secured by collateral other than real estate) 292, 719
On time (not secured by collateral)
335, 225
Secured by farm land
48, 737
Secured by other real estate
1, 036, 418
Not classified
.
7, 508, 810
Total
9, 534, 915
Overdrafts
29,292



REPORT OF THE COMPTROLLER OF THE CURRENCY

85

Investments (including premiums on bonds):
United States Government securities
529, 731
State, county, and municipal bonds
286, 401
Railroad bonds
65, 810
Bonds of other public service corporations (including
street and interurban-railway bonds)
60, 945
Other bonds, stocks, warrants, etc
2, 448, 325
Total
3,391,212
Banking house (including furniture and
fixtures)
462, 665
Other real estate owned
152, 416
Due from banks
1, 101, 279
Lawful reserve with Federal reserve bank or other reserve agents.. 698. 063
Checks and other cash items
282, 338
Exchanges for clearing house
121, 967
Cash on hand:
Gold coin
„
10, 299
Silver coin
19,317
Paper currency
142, 140
Nickels and cents
643
Cash not classified
241, 340
Total

413,739

Other resources

377,102

Total resources

16, 564, 988
LIABILITIES

Capital stock paid in
1,078,087
Surplus
735,949
Undivided profits (less expenses and taxes paid)
270, 096
Due to all banks
614, 807
Certified checks and cashiers' checks
195, 514
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
5, 743, 936
Demand certificates of deposit
257, 697
State, county, or other municipal deposits
412, 379
Dividends unpaid
12, 886
Other demand deposits
69, 677
Time deposits—
Time certificates of deposit
1, 468, 001
State, county, or other municipal deposits
4, 471
Other time deposits
4, 623, 053
Postal savings deposits
15, 480
Not classified
329, 010
Total
12, 936, 590
United States deposits (exclusive of postal savings)
5, 085
Notes and bills rediscounted
53, 360
Bills payable (including certificates of deposit representing money
borrowed)
214, 535
Other liabilities
460, 965
Total liabilities

16,564,988
LOAN AND TRUST COMPANIES

The returns from 1,647 loan and trust companies June 30, 1927,
with total resources of $13,994,756,000, showed a decrease of nine
companies but an increase in resources of $1,789,560,000 since June
30, 1926.
Loans and discounts, $7,479,570,000, showed an increase of
$725,483,000 in the year; overdrafts increased $252,000; and investments in bonds and securities, $3,498,845,000, were increased
$692,065,000.



86

REPORT OF THE COMPTROLLER OF THE CURRENCY

Banking house, furniture and fixtures, with an estimated value of
$294,212,000, were $28,393,000 more than in the previous year.
Other real estate owned likewise increased from $47,607,000 to
$85,985,000.
Amounts due from correspondent banks showed an increase of
$57,442,000, lawful reserve with the Federal reserve banks and
other reserve agents an increase of $87,731,000, checks and other
cash items an increase of $88,818,000, and exchanges for clearing
house an increase of $1,137,000. Cash on hand, $171,852,000, was
increased in the year $1,310,000.
The paid-in capital stock of these companies aggregated $745,647,000 and showed an increase of $72,688,000. Surplus, $932,337,000, and undivided profits, $195,617,000, exceeded the amounts
reported a year ago by $118,087,000 and $15,662,000, respectively.
Liability for amounts due all banks was reduced $48,963,000 since
the returns of last year. Individual deposits, $10,094,485,000,
showed an increase of $1,193,557,000; certified checks and cashiers'
checks outstanding were more by $333,452,000; and United States
deposits of $48,534,000 were greater in the sum of $15,510,000.
Notes and bills rediscounted exceeded last year's figures by
$8,904,000, while bills payable showed a reduction of $127,000.
Other liabilities were increased in the sum of $80,790,000.
The resources and liabilities of loan and trust companies, June 30,
1927, are shown in the following statement:
Summary of reports of condition of 1,647 loan and trust companies in the United
States at the close of business June 80, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real
estate)
.
837, 559
On demand (not secured by collateral)
„
198, 428
On time (secured by collateral other than real
estate)
356,851
On time (not secured by collateral)
882, 505
Secured by farm land
15, 686
Secured by other real estate «.
1, 016, 176
Not classified
„„___„
_
...
4, 172, 365
Total
.
.
7, 479, 570
Overdrafts
.
.
3, 690
Investments (including premiums on bonds):
United States Government securities
371, 032
State, county, and municipal bonds
. ___-_
211, 205
Railroad bonds
.
.
270, 175
Bonds of other public service corporations (including street and interurban railway bonds)
.
243, 741
Other bonds, stocks, warrants, etc ,
2, 402, 692
Total
Banking house (including furniture and
fixtures)
Other real estate owned
Due from banks
Lawful reserve with Federal reserve bank or other reserve agents
Checks and other cash items
Exchanges for clearing house



3,498,845
294, 212
85, 985
520, 555
818, 225
572, 869
46, 845

EEPORT OP THE COMPTROLLER OF THE CURRENCY
Cash on hand:
Gold coin
Silver coin
.
Paper currency
Nickels and cents
Cash not classified--.Total
Other resources

87

4, 563
4, 182
113, 502
1, 172
48, 433

.

_-_-

171,852
502, 108

Total resources

13, 994, 756
LIABILITIES

Capital stock paid in
745, 647
Surplus
.
932,337
Undivided profits (less expenses and taxes paid)
195, 617
Due to all banks
.805, 334
Certified checks and cashiers' checks
384, 632
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
5, 439, 858
Demand certificates of deposit
141, 806
State, county, or other municipal deposits
116, 005
Dividends unpaid
20, 304
Other demand deposits
437, 197
Time deposits—
Time certificates of deposit
197, 164
State, county, or other municipal deposits
7, 523
Other time deposits
3, 169, 573
Postal-savings deposits
17, 181
Not classified
547, 874
Total
10,094,485
United States deposits (exclusive of postal savings)
48, 534
Notes and bills rediscounted
52, 951
Bills payable (including certificates of deposit representing money
borrowed) ___
123,892
Other liabilities
.
.._
611, 327
Total liabilities

13, 994, 756

PRINCIPAL ITEMS OF RESOURCES AND LIABILITIES OF LOAN AND TRUST
COMPANIES I N J U N E OF EACH YEAR, 1914 TO 1927

The principal items of resources and liabilities of loan and trust
companies for years ended June 30? 1914 to 1927, inclusive, are shown
in the statement following:
[In millions of dollars]
Year

Number

1914 _
1915 _

1916 _
1917.
1918 _
1919_
1920 _
1921.
192219231924 _
1925.
19261927.

1,564
1,664
L.606
L,608
1,669
1,377
:1,408
L,474
:1,550
t, 643
1,664
L680
1,656
]1,647

* Including overdrafts.

71284°—28



7

Loans 3
2,905.7
3,048. 6
3,704. 3
4,311. 7
4,403. 8
4,091. 0
4,601. 5
4,277.1
4,345. 4
5,064.1
5,299. 0
6,126.6
6, 757. 5
75 483. 3

Investments
1,261.3
1,349. 6
1,605. 4
1,789. 7
2,115. 6
2,069. 9
1,902.1
1,942. 6
2,311.1
2, 423. 8
2, 748. 4
2,801. 3
2,806. 8
3,498. 8

Capital
462.2
476.8
475.8
505. 5"
525.2
450.4
475.7
515.5
532.3
591.4
621.0
643.4
673.0
745.6

Surplus
and profits
564.4
577.4
605.5
641. 8
646. 9
588.6
612.1
649.5
680.2
739.9
813.2
882.2
994.2
1,128.0

Total
deposits
4, 289.1 4,604. 0
5, 732. 4
6.413.1
6,493. 3
6,157. 2
6, 518. 0
6,175.0
6,861. 2
6, 831. 0
7,785. 3
9,465. 6
9,839. 4
11,333.0

Aggregate
resources
5,489. 5
5, 873.1
7,028. 2
7,899. 8
8,317.4
7,959.9
8,320.0
8,181.0
8,533.8
9,499.2
10,323.8
11,565. 6
12,205.2
13,994.8

88

REPORT OF THE COMPTROLLER OF THE CURRENCY
STOCK SAVINGS BANKS

The returns received from 843 stock savings banks as of June 30,
1927, showed total resources of $1,815,538,000, the figures representing a decrease of 61 in the number of banks, and a decrease of
$380,889,000 in total resources from the returns received as of June
30, 1926.
Loans and discounts, $1,144,709,000, were reduced in the sum of
$265,159,000; investments, $419,803,000, a reduction of $84,295,000;
and banking house, furniture and fixtures, $45,857,000, showed a
decrease in estimated value of $6,445,000 since June, 1926. Amounts
due from correspondent banks and bankers, and checks and other
cash items were increased $12,167,000 and $1,022,000, respectively.
Cash on hand, $23,692,000, showed a decrease of $3,224,000, and
other resources a decrease of $7,212,000.
Capital stock paid in, $69,144,000, was reduced $16,009,000 since
June of 1926. Surplus and undivided profits also showed reductions
of $1,279,000 and $2,187,000, respectively.
The total deposit liability of these associations aggregated $1,674,150,000, and was $356,925,000 less than the year previous. The
individual deposits, $1,661,803,000, showed a decline of $359,811,000,
while amounts due to all banks were increased $2,375,000.
Notes and bills rediscounted and bills payable were reduced
$510,000 and $1,105,000, respectively.
A summary of the resources and liabilities of these associations on
the date indicated follows:
Summary of reports of condition of 84-3 stock savings banks in the United States
at the close of business June SO, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real
estate)
On demand (not secured by collateral)
On time (secured by collateral other than real estate) _
On time (not secured by collateral)
Secured by farm land
Secured by other real estate
Not classified
.
Total
Overdrafts
Investments (including premiums on bonds):
United States Government securities
State, county, and municipal bonds
Railroad bonds
Bonds of other public service corporations (including
street and interurban railway bonds)
Other bonds, stocks, warrants, etc

9,905
1,085
4, 668
12, 615
3, 367
757, 950
355, 119
1, 144, 709
263
108, 421
22, 824
13,968
3, 042
271, 548

_
m Total
Banking house (including furniture and
fixtures)
Other real estate owned
Duefrom banks
Lawful reserve with Federal reserve bank or other reserve agents
Checks and other cash items
Exchanges for clearing house
_



419, 803
45, 857
24, 326
130,824
7, 408
13, 067
3, 167

REPORT OF THE COMPTROLLER OF THE CURRENCY
Cash on hand:
Gold coin
Silver coin
Paper currency
Nickels and cents
Cash not classified

„

Total
Other resources

89

1, 999
9
1, 279
74
20, 331
23,692
2, 422

Total resources

1, 815, 538
LIABILITIES

Capital stock paid in
69, 144
Surplus
46,554
Undivided profits (less expenses and taxes paid)
18, 030
Due to all banks
11,334
Certified checks and cashiers' checks
451
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
122, 744
Demand certificates of deposit
3, 664
State, county, or other municipal deposits
.
79, 160
Dividends unpaid
66
Other demand deposits
166
Time deposits—
Time certificates of deposit
116, 642
State, county, or other municipal deposits
201
Other time deposits
1,336,393
Postal savings deposits
2, 757
Not classified
10
Total
.
1, 661, 803
United States deposits (exclusive of postal savings)
•_
562
Notes and bills rediscounted
1, 401
Bills payable (including certificates of deposit representing money
borrowed)
2,270
Other liabilities..
3, 989
Total liabilities

1,815, 538
MUTUAL SAVINGS BANKS

The aggregate resources of 618 mutual sayings banks, June 30,
1927, amounted to $9,011,185,000, in comparison with resources of
620 banks on June 30, 1926, amounting to $8,422,307,000, the increase
in resources for the year totaling $588,878,000.
Loans and discounts of these banks for the current year,
$5,064,595,000, and investments, $3,523,350,000, showed increases
of $441,001,000 and $117,246,000, respectively, over these items for
the year previous.
Banking house, furniture and fixtures were increased $10,894,000,
and other real estate owned showed an increase of $1,890,000.
Balances due from correspondent banks and bankers aggregated
$224,741,000, showing an increase of $13,483,000; checks and other
cash items were less by $270,000, and exchanges for clearing house
were reduced $190,000. Cash on hand, $31,212,000, exceeded last
year's figures by $1,612,000. Other resources also showed an
increase of $3,212,000.
All liability items of these banks showed increases during the
year, the largest increase, $499,595,000 appearing in individual
deposits, which amounted to $8,077,099,000.



90

EEPORT OF THE COMPTROLLER OF THE CURRENCY

Surplus funds and undivided profits showed increases of
$79,953,000 and $8,457,000, respectively. Bills payable were
$568,000, as compared with $345,000 a year ago.
A summary of the resources and. liabilities of these banks follows:
Summary of reports of condition of 618 mutual savings banks in the United States
at the close of business June 30, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real
estate)
21, 393
On time (secured by collateral other than real estate) _
11, 118
On time (not secured by collateral)
8, 971
Secured by farm land
441
Secured by other real estate
1, 897, 472
Not classified___
3, 125, 200
Total
5, 064, 595
Investments (including premiums on bonds):
United States Government securities
220, 841
State, county, and municipal bonds
458, 015
Railroad bonds
652, 014
Bonds of other public service corporations (including
street and interurban railway bonds)
374, 937
Other bonds, stocks, warrants, etc
,
1, 817, 543
Total
Banking house (including furniture and fixtures)
Other real estate owned
Due from banks
Checks and other cash items
Exchanges for clearing house
Gash on hand:
Gold coin
Silver coin
Paper currency
Nickels and cents
Cash not classified
Total
Other resources

3, 523, 350
93, 330
12, 668
224, 741
1, 094
209
1, 166
122
4, 031
26
25, 867
31,212
59, 986

Total resources

9, 011, 185
LIABILITIES

Surplus
782,927
Undivided profits (less expenses and taxes paid)
137, 332
Due to all banks
:
108
Certified checks and cashiers' checks
44
Individual deposits (including postal savings):
Demand, deposits—
Individual deposits subj ect to check
7, 909
Demand certificates of deposit
470
Dividends unpaid
610
Time deposits—
Time certificates of deposit
14, 826
State, county, or other municipal deposits
114
Other time deposits
8,040,042
Not classified
13, 128
Total
8, 077, 099
Bills payable (including certificates of deposit representing money
borrowed)
568
Other liabilities
13, 107
Total liabilities




9, 011, 185

REPORT OF THE COMPTROLLER OF THE CURRENCY

91

DEPOSITORS AND DEPOSITS IN MUTUAL AND STOCK SAVINGS BANKS

The combined total individual deposits in 1,461 mutual and stock
savings banks on June 30,1927, were $9,738,902,000, and exceeded by
$139,784,000 the amount reported by 1,524 associations on June 30,
1926. The number of depositors was 14,814,271, or 347,528 fewer
than the year previous. The average amount due each depositor
in mutual savings banks was $712.43, compared with $685.51 in
June of last year, and in stock savings banks $477.96, as against
$492.13 last year.
Statements showing information relative to the number of mutual
and stock savings banks in each State, the number of depositors, the
amount of deposits, the average amount due each depositor, and the
per cent rates of interest paid by banks in each State, June 30, 1926
and 1927, with similar information for each year 1914 to 1927, follow:




CO

Number of mutual savings banks, number of depositors, individual deposits and average deposit account, by States, June SO, 1926 and 1927
1927

1926
States

Number Depositors
of banks

Deposits

Average
due each
depositor

37
53
19
196
12
76

.... _

New York
New Jersey
Pennsylvania.
Delaware
Maryland.^-. , _ .

Ohio
Indiana
Wisconsin
Total Middle "Western States
Washington. California
Total Pacific States ._
Total United States

.

2,763,458,000

4,635,134
441,074
569,562
46,426
312,486

3,738,426,000
229,802,000
375,837,000
22,590,000
158,292,000

806.54
521. 01
659. 87
486. 58
506.56

6,004,682

4,524,947,000

753. 57

*104,108
33,374
17,205
130,708

82,310,000
20,438,000
6,393,000
61,027,000

790.62
612.39
371.58
466.90

285,395

170,168,000

596.25

4
1

69,958
70,340

42,072,000
76,859,000

601.39
1,092.68

5

140,298

118,931,000

847.70

620

11,053,886

7,577,504,000

685.51

i Includes savings of 12 trust companies and 11 guaranty savings banks.
> Estimated.




Per cent
rate of in- Number Depositors
terest paid of banks

597. 70

20

...

Total Eastern States. __

4,623,511

202

.

Total New England States

$476.24
570.51
691.59
591.32
670. 77
630.20

148
27
9
2
16

.

$110,228,000
U84,835,000
88,484,000
1,701,852,000
144,526,000
533,533,000

3
5
7
5

Vermont__l- _
Massachusetts
Rhode Island
Connecticut— ._.

231,457
323,983
127,943
2,878,058
215,462
846,608

393

Maine

to

Deposits

Average
due each
depositor

5.00
4.00

$110,541,000
3 194,564, 000
92,314,000
1,808, 760,000
154, 569,000
568,993,000

$481.58
570. 51
691. 59
621.38
694.09
652.30

4,709,903

2,929, 741,000

622.04

149
27
9
2
15

4,777, 761
a 454, 239
574,177
46,921
315,850

4, 036, 074,000
242,460, 000
364,824,000
23,404,000
170,633,000

844.76
533. 77
635. 39
498. 80
640.23

6,168, 948

4,837,395,000

3
5
7
•6

a 112,190
8 35,807
a 18,623

141.709

88, 700, 000
21,928, 000
6, 920, 000
66, 673, 000

790.62
612. 39
371.58
470.49

308, 329

184, 221, 000

597.48
616. 71
1,076.16

150,218

48, 210, 000
777fi32 ftftft
'
125,742,000

618~ 11,337,398

8,077,099,000

712.43

3

784.15

21

4.00
4.50
3.50
4.25

229,636
i 341,036
*133,481
2,910,872
222,693
872, 285

202

4.17
3.96
3.98
4.00
4.00

35
53
19
196
11
75
389

4.00
3.79
4.50
4.64
4.00
4.52

Per cent
rate of interest paid

5
1
6

78,173 I
72,045

837.06

8
Includes savings of 11 trust companies and 11 guaranty savings banks,
* Includes returns of 1 stock savings bank.

4.00
3.79
4.50
4.64
4.22
4.66

CL

O
4.17
3.93
3.66
4.00
4.00

4.00
4.50
3.50
4.25

g

F

3

w
5.00
4.00

d

Number of stock savings banks, number of depositors, individual deposits, and average deposit account, by States, June 80, 1926 and 1927
1927

1926
States
Number Depositors
or banks

New Jersey
Pennsylvania
District of Columbia _

„_.

Total Eastern States

-

Average
due each
depositor

Per cent
rate of interest paid
4.00
3.00
3.27

1
1
23

42,467
4,103
116,443

$24,078,000
2,220,000
34,477,000

$566.98
541.07
296.08

Number
of banks Depositors

Deposits

Average
due each
depositor

1
1
23

i 41, 630
36,583
126,870

$25,253. 000
39,029; 000
36,118, 000

$606.61
1,066.86
284.69

Per cent
rate of interest paid

I

4.00
4.00
3.44

25

163,013

60,775,000

372.82

25

205, 083

100,400, 000

489. 56

Florida. _.

3

6,361

2,158,000

339. 25

4.00

3

1 6, 726

1,816, 000

270.00

4.00

Michigan
Minnesota
Iowa

4
2
782

19,868
1 16,907
1,327,000

16,079,000
11,926,000
375,305,000

809.29
705. 39
282.82

3.50
4.25
4.00

4
1
732

i 21, 111
4,093
i 1,282,349

17,085, 000
1,894, 000
362,674, 000

809.29
462. 74
282.82

3.50
4.25
4.00

788

1,363, 775

403,310,000

295. 73

737

1,307, 553

381,653, 000

291.88

Nebraska..

15

15,515

4,325, 000

278. 76

4.00

15

Oregon
California
Utah
Nevada
Arizona

5
61
3
1
3

9,858
3,218, 000
2,475,720 21,516,959, 000
55,228
20,647, 000
3,650
4,223,000
14, 793
5,999,000

326.44
612. 73
373.85
1,156. 99
405. 53

3.40
4.00
4.00
4.00
3.84

5
54
3
1

_ _ _

. . __

Deposits

„

____

Total Middle Western States

.

Total Pacific States

__ _-.___
.

4,586,000 |

284.63
307. 39
612. 73
360.24
1,157.01

73

2,559,249

1,551,046,000

606. 06

63

1,941, 399

1,173,348,000

604. 38

904

Total United States




16,112

3,132, 000
1 10,189
U,867,499 21,144,281, 000
21,602,000
59, 966
4,333,000
1 3, 745

4,107,913

2,021,614, 000

492.13

843

3, 476, 873

1,661,803,000

O
O

a

Too
3.45
4.00
4.00
4.00

3

477. 96

d
1 Estimated.

2

Includes savings of departmental banks.

3
o

CO
00

94

REPORT OF THE COMPTROLLER OF THE CURRENCY

Number of savings banks (mutual and stock) in the United States, number of depositors, amount of individual deposits, and average amount due each depositor
in years ended June SO, 1914 to 1927', inclusive

Year

Banks

1914—Mutual savings banks.
Stock savings banks
1915—Mutual savings banks..
Stock savings banks
1916—Mutual savings banks..
Stock savings banks
1917—Mutual savings banks..
Stock savings banks
1918—Mutual savings banks..
Stock savings banks
1919—Mutual savings banks..
Stock savings banks
1920—Mutual savings banks..
Stock savings banks
1921—Mutual savings banks.
Stock savings banks
1922—Mutual savings banks.
Stock savings banks
1923—Mutual savings banks.
Stock savings banks
1924—Mutual savings banks.
Stock savings banks
1925—Mutual savings banks.
Stock savings banks
1926—Mutual savings banks.
Stock savings banks
1927—Mutual savings banks.
Stock savings banks

634
1,466
630
1,529
622
1,242
622
1,185
625
1,194
622
1,097
620
1,087
623
978
619
1,066
618
1,029
613
990
611
972
620
904
618
843

* Dividends unpaid included.

Depositors
8, 277, 359
2,832,140
8, 307, 787
2, 977, 968
8, 592, 271
2, 556,121
8,935, 055
2, 431,958
9,011, 464
2, 368,089
2,486, 073
9,445, 327
1,982, 229
9, 619, 260
1,118, 583
9, 655, 861
2, 883,136
10, 057, 436
3, 282, 897
10, 409, 776
3, 562,017
10, 616, 215
2 4,040, 312
11,053, 886
4,107,913
11,337, 398
3,476,873

Deposits *

Average
due each
depositor

$3,915, 555, 286
1, 018, 330,071
3, 950, 585, 631
1, 046, 096,917
4,187, 916,941
901, 936,188
4, 422, 489, 344
996,165, 031
A, 422, 092, 991
1, 049, 694, 890
4, 751, 300,000
1,152, 127,000
5,186, 952,000
1, 351, 242,000
5, 575,147,000
442, 851,000
5, 779, 506,000
1, 401, 742,000
6, 288, 551,000
1, 609,358,000
6, 693, 246,000
1, 746, 609,000
7,146, 951, 000
1, 918, 230,000
7, 577, 504,000
2, 021, 614,000
8, 077,099,000
1, 661, 803,000

$473. 04
359. 56
475. 53
351. 28
487. 40
352. 85
494.96
409. 61
490. 72
443. 27
530. 94
463. 43
549.16
681.68
579. 58
395.90
598. 55
486.19
625. 26
490. 22
642.98
490. 34
673. 21
2 474. 77
685. 51
492.13
712. 43
477.96

a Revised.

PRIVATE BANKS

The total resources of 467 reporting private banks in the country
on June 30, 1927, aggregated $164,148,000, which was a decrease of
$10,004,000 in resources as reported by 495 such associations on
June 30,1926. In the States of Texas, Michigan and Iowa, however,
private banks are not under State supervision, and returns concerning
them for the current year were obtained direct from but 116 of approximately 360 banks in these three States.
Loans and discounts of all reporting private banks were $90,893,000,
a decrease of $1,666,000 in the year. Overdrafts showed a reduction
of $103,000 and investments in bonds and securities a reduction of
$6,841,000.
Banking house, furniture and fixtures, $3,823,000, were reduced
$1,027,000 over the figures received last year, but other real estate
owned exceeded the previous returns by $126,000.
Due from banks, $22,099,000, was greater by $1,205,000, and lawful
reserve was $158,000 greater than last year. Checks and other cash
items, exchanges for clearing house, cash on hand, and other resources
all showed reductions over the previous 12-month period, the greatest
decrease being $942,000 reported in cash on hand.
The paid-in capital, $9,447,000, showed a reduction of $448,000,
and surplus, $9,815,000 and undivided profits, $1,710,000, were
$1,296,000 and $60,000 less, respectively, than on June 30, 1926.
Total deposits were reduced from $133,249,000 to $124,353,000,
the greatest decrease, $8,539,000, appearing in individual deposits.
Notes and bills rediscounted, $391,000, and bills payable, $12,098,000,
showed increases of $54,000 and $1,150,000, respectively.




REPORT OF THE COMPTROLLER OF THE CURRENCY

95

Summary of the resources and liabilities of these banks follows:
^Summary of reports of condition of 467 'private banks in the United States at the
close of business June 80, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real estate)-On demand (not secured by collateral)
On time (secured by collateral other than real estate)
On time (not secured by collateral)
Secured by farm land
Secured by other real estate
i
Not classified
Total
Overdrafts
Investments (including premiums on bonds):
United States Government securities
State, county, and municipal bonds
Railroad bonds
Bonds of other public-service corporations (including street
and interurban-railway bonds)
Other bonds, stocks, warrants, etc
Total
Banking house (including furniture and
Other real estate owned
Due from banks
Lawful reserve with reserve agents
Checks and other cash items
Exchanges for clearing house
Cash on hand:
Gold coin
Silver coin
Paper currency
Nickels and cents
Cash not classified

1, 211
1, 000
5, 087
5, 320
3, 801
7, 843
66, 631
90,893
417
3, 244
1, 656
575
975
22, 215
28,665
3, 823
8, 261
22, 099
3, 206
568
43

fixtures)

41
98
1, 248
11
1, 799

Total
Other resources

3, 197
2, 976

Total resources

164, 148
LIABILITIES

Capital stock paid in
Surplus
Undivided profits (less expenses and taxes paid)
Due to all banks
Certified checks and cashiers' checks
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
Demand certificates of deposit
State, county, or other municipal deposits
Dividends unpaid
Other demand deposits
Time deposits—
Time certificates of deposit
Other time deposits
Postal-savings deposits
Not classified
Total



9, 447
9, 815
1, 710
817
312
42, 188
11, 402
2, 866
13
8, 399
21, 591
31, 054
3
5, 708
123,224

96

REPORT OF THE COMPTROLLER OF THE CURRENCY

Notes and bills rediscounted
Bills payable (including certificates of deposit representing money borrowed)
Other liabilities
Total liabilities

391
12,098
6, 334*
164, 148

ALL REPORTING BANKS OTHER THAN NATIONAL

The combined resources of 19,265 reporting banks other than
national, June 30, 1927, aggregated $41,550,615,000, and exceeded
by $1,972,877,000 the resources of 20,168 banks other than national
reporting as of June 30, 1926. The decrease in number of banks was
903.
Loans and discounts amounted to $23,314,682,000, and were
$731,326,000 more than a year ago; overdrafts, $33,662,000, showed
a reduction of $6,089,000, and investments in United States and
other miscellaneous bonds and securities, $10,861,875,000, showed an
increase of $888,987,000.
Banking house furniture and fixtures with estimated value of
$899,887,000 were greater in the current year by $39,679,000, and
other real estate owned, $283,656,000, increased $40,608,000.
Amounts due from correspondent banks and bankers, including
lawful reserve with the Federal reserve banks or other reserve agents,
increased in the year $121,358,000, or from $3,405,042,000 to $3,526,400,000.
Checks and other cash items showed an increase of $110,322,000,
while exchanges for clearing house were less by $39,320,000. Cash
on hand, $643,692,000, was greater by $7,123,000 than on the same
date the year previous. Other resources were increased $78,883,000.
The combined paid-in capital stock of these banks was $1,902,325,000, or $41,894,000 more than in the preceding year. Surplus,
$2,507,582,000, and undivided profits, $622,785,000, showed increases
of $234,513,000 and $37,201,000, respectively.
The total deposit liabilities in the current year amounted to $34,960,735,000, and were $1,546,522,000 greater than in the preceding
year. Individual deposits were increased $1,103,317,000; cashiers'
checks and certified checks outstanding were greater by $431,096,000;
due to banks was $1,251,000 more, and United States deposits were
increased $10,858,000.
Notes and bills rediscounted, $108,103,000, and bills payable,
$353,363,000, showed reductions in the year of $6,730,000 and $32,990,000, respectively. Other liabilities were increased $152,467,000.
The summary following shows resources and liabilities of all reporting banks other than national:
Summary of reports of condition of 19,265 State (commercial), savings, private
banks and loan and trust companies in the United States, Alaska, and insular
possessions at the close of business June 30, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real
estate)
On demand (not secured by collateral)



1, 117, 448
266, 139

REPORT OF THE COMPTROLLER OF THE CURRENCY

97

Loans and discounts—Continued.
On time (secured by collateral other than real
estate)
670,443
On time (not secured by collateral)
1, 244, 636
Secured by farm land
72? 032
Secured by other real estate
4, 715, S59
Not classified
15, 228, 125
Total
Overdrafts
„
Investments (including premiums on bonds):
United States Government securities
State, county, and municipal bonds
Railroad bonds
_
Bonds of other public service corporations (including street and interurban-railway bonds)
Other bonds, stocks, warrants, etc

23,314,682
33,662
1, 233, 269
980, 101
1, 002, 542
683, 640
6, 962, 323

Total
.
10,861,875
Banking house (including furniture and
fixtures)
899, 887
Other real estate owned
283, 656
Due from banks
1, 999, 498
Lawful reserve with Federal reserve bank or other reserve agents._„ 1, 526, 902
Checks and other cash items
869, 936
Exchanges for clearing house
172, 231
Cash on hand:
Gold coin
18, 068
Silver coin
23,728
Paper currency
262, 200
Nickels and cents
1, 926
Cash not classified
337, 770
Total
Other resources

643,692
944, 594

Total resources

41, 550, 615
LIABILITIES

Capital stock paid in
•
_
1, 902,325
Surplus
i
2, 507, 582
Undivided profits (less expenses and taxes paid)
622, 785
Due to all banks
1, 432, 400
Certified checks and cashiers' checks
580, 953
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
11, 356, 635
Demand certificates of deposit
415, 039
State, county, or other municipal deposits
610, 410
Dividends unpaid
33, 879
Other demand deposits
515, 439
Time deposits—
Time certificates of deposit
1, 818, 224
State, county, or other municipal deposits
12, 309
Other time deposits
17, 200, 115
Postal savings deposits
35, 421
Not classified
.
895, 730
Total
„ 32, 893, 201
United States deposits (exclusive of postal savings)
54, 181
Notes and bills rediscounted
108, 103
Bills payable (including certificates of deposit representing money
borrowed)
353, 3§3
Other liabilities
1, 095, 722
Total liabilities



.

__-

41,550,615

98

REPORT OF THE COMPTROLLER OF THE CURRENCY

The resources and liabilities of each class of reporting banks, other
than national, June 30, 1927, are shown in the following table:
Resources and liabilities of 19,265 State (commercial) banks, loan and trust companies, savings banks, and-privatebanks, June SO, 1927
[In thousands of dollars]
15,690
loan
State (com- 1,647 trust
and
mercial)
companies
banks

618
mutual
savings
banks

843 stock
savings
banks

19,265
total
banks

467
private
banks

BESOTJBCES
Loans and discounts (including
rediscounts)
Overdrafts
_
Investments (including premiums on bonds)
Banking house, furniture and
fixtures
Other real estate owned
Due from banks.
Lawful reserve with Federal
reserve bank or other reserve
agents
Checks and other cash items
Exchanges for clearing house
dash on hand
Other resources,

90,893

23,314,682
33,662

7,479, 570
3,690

5,064,595

3,391,212

3,498,845

3, 523,350

419,803

462, 665
1.52,416
1,101,279

294,212
85,985
520, 555

93, 330
12, 668
224, 741

45,857
24, 326
130,824

282, 338
121,967
413, 739
377,102

818, 225
572, 869
46,845
171,852
502,108

1,094
209
31,212
59,986

7,408
13,067
3,167
23,692
2,422

3,206
568
43
3,197
2,976

1, 526,902
869,936
172,231
643, 692
944,594

16, 564,988

13,994, 756

9,011,185

1,815, 538

164,148

41, 550, 615

1,078,087
Capital stock paid in
735,949
Surplus
Undivided profits (less expenses
and taxes paid)
270,096
D u e to all banks
614,807
Certified checks and cashiers'
195, 514
checks
_
Individual deposits (including
dividends unpaid and postal
savings)
12,936, 590
United States deposits
5,085
13,751,996
Total deposits53,360
Notes and bills rediscounted
Bills payable (including advances received from War
Finance Corporation and certificates of deposit representing money borrowed) _ _
214,535
Other liabilities
460,965

745, 647
932, 337

782,927

69,144
46,554

9, 447
9,815

1,902,325
2, 507,582

195,617
805, 334

137,332
108

18,030
11,334

1,710
817

622,785
1,432,400

384,632

44

451

312

580,953

10,094,485
48, 534
11,332,985
52,951

8,077,099

1,661,803
562
1,674,150
1,401

123,224

~8,~077,~25T

124,353
391

32,893,201
54,181
34,960,735
108,103

123,892
611,327

568
13,107

2,270

12,098
6,334

353,363
1,095,722

13,994,756

9,011,185

1,815,538

164,148

41,550,615

Total resources

,

9, 534,915

1,144,709
263

417
28,665
3,823
8,261
22,099

10,861,875
899,887
283,656
1,999,498

LIABILITIES

Total liabilities

16,564,988

PRINCIPAL ITEMS OF RESOURCES AND LIABILITIES OF ALL REPORTING BANKS
OTHER THAN NATIONAL ON OR ABOUT J U N E 3 0 , 1 9 2 3—19 27

The principal items of resources and liabilities of reporting banks
other than national, for years ended on or about June 30, 1923 to
1927, are shown in the statement following:




REPORT OF THE COMPTROLLER OF THE CURRENCY

99

Consolidated returns from State (commercial), savings, private banks, and loan and
trust companies
[In thousands of dollars]
Items
Loans J...
Investments
Cash
Capital
Surplus and undivided profits
Deposits (individual)
Resources-,

1923

1924

18,459,327 19,359,419
8,602, 844 9,086, 417
505,993
566, 281
1,723,476
1, 780, 192
2,206,818
2,356,855
25,990, 735 28,100, 938
32,523,145 34, 578, 771

1925

1926

1927

21,073,990 22, 623,107 23,348,344
10,861,875
9,669, 669 9,972,888
643,692
591, 681
636, 569
1,902, 325
1,800,276
1,860,431
3,130,367
2,580,134
2,858, 653
30,411,030 31,789,884 32,893,201
37, 706,174 39, 577, 738 41,550,615

i Including overdrafts.
C O N D I T I O N OF N A T I O N A L B A N K S J U N E 3 0 , 1 9 2 7

The total resources of 7,796 reporting national banks in the continental United States, Alaska, and Hawaii, June 30, 1927, amounted
to $26,581,943,000, as compared with resources of 7,978 national
banks, aggregating $25,315,624,000, on June 30, 1926, an increase in
the year of $1,266,319,000.
Loans and discounts, including rediscounts, were $13,955,696,000,
and greater by $538,022,000 than the figure reported a year ago.
The percentage of loans and discounts to total deposits was 64.09,
in comparison with a ratio of 65 per cent the year previous.
United States Government securities owned amounted to $2,596,178,000, and other miscellaneous bonds and securities held were
$3,797,040,000. These items show increases in the year of $126,910,000 and $424,055,000, respectively.
Amounts due from reporting banks and bankers, including lawful
reserve with the Federal reserve banks were $3,374,002,000, an excess
of $9,983,000 over June 30, 1926. Cash in the banks' vaults increased
from $359,951,000 to $364,204,000, during the 12-month period.
Banking houses, furniture and fixtures were $680,218,000, possessing a reported value of $47,376,000 more than on the same date in
the year 1926. Other real estate owned decreased from $115,869,000
to $115,817,000.
The paid-in capital stock of the reporting banks was $1,474,173,000
and exceeded by $61,301,000 the amount reported a year ago. Surplus and undivided profits of $1,765,366,000 were increased $88,880,000 in the year.
Liability for circulating notes outstanding amounted to $650,946,000,
which was a decrease of $209,000 since the corresponding date of the
year preceding.
Total deposit liabilities were $21,775,123,000, and showed an
increase of $1,132,959,000 in the year. In the classification of these
liabilities were balances due to correspondent banks and bankers,
including certified checks and cashiers7 checks outstanding, $3,395,927,000, which was a decrease in the year of $9,321,000. The total
of individual deposits, including postal savings, however, was
$18,239,353,000, and showed an increase of $1,146,941,000 over
June 30 last year.
Bills payable amounted to $248,018,000, and rediscounts, $120,024,000, in comparison with $253,807,000 and $168,149,000, respectively, in June of 1926.



100

KEPORT OF THE COMPTROLLER OF THE CURRENCY

Condensed statement of resources and liabilities of all reporting
national banks at the close of business June 30, 1927, follows:
Summary of reports of condition of 7,796 national banks in the United States at the
close of business June SO', 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than rea*
estate)
On demand (not secured by collateral)
On time (secured by collateral other than real estate) _
On time (not secured by collateral)
Secured by farm land
Secured by other real estate
Not classified
Total
Overdrafts
Investments (including premiums on bonds):
United States Government securities
State, county, and municipal bonds
Railroad bonds
Bonds of other public service corporations (including street and interurban-railway bonds)
Other bonds, stocks, warrants, etc

2, 566, 471
821, 795
3, 260, 283
6, 125, 942
305, 209
757, 316
118, 680
13, 955, 696
9,788
2, 596, 178
743, 539
656, 690
648, 767
1, 748, 044

Total
6, 393, 218
Banking house (including furniture and
fixtures)
680, 218
Other real estate owned
115, 817
Due from banks
r ._ 1,967,950
Lawful reserve with Federal reserve bank or other reserve agents-_ 1, 406, 052
Checks and other cash items
191, 054
Exchanges for clearing house
947, 946
Cash on hand:
Gold coin
17,121
Silver coin *
37, 743
Paper currency
309, 340
Total
Other resources 2
Total resources

364,204
550,000
26, 581, 943
LIABILITIES

Capital stock paid in
Surplus
Undivided profits (less expenses and taxes paid)
Reserved for taxes, interest, etc., accrued
National-bank circulation
Due to all banks
Certified checks and cashiers' checks
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
Demand certificates of deposit
State, county, or other municipal deposits
Dividends unpaid
Other demand deposits
i Includes clearing house certificates.
* Includes $253,131,000 customers' liability account of acceptances.



„
9, 787, 513
205, 075
693, 835
36, 550
200, 756

1, 474, 173
1, 256, 945
508, 421
70, 326
650, 946
2, 856, 937
538, 990

REPORT OF THE COMPTROLLER OF THE CURRENCY

101

Individual deposits (including postal savings)—Continued
Time deposits—
Savings deposits
5, 875, 670
State, county, or other municipal deposits
224, 848
Other time deposits
1, 137, 992
Postal savings deposits
77, 114
Total
18,239,353
United States deposits (exclusive of postal savings)
139, 843
Notes and bills rediscounted
120, 024
Bills payable (including certificates of deposit representing money
borrowed)
248,018
Other liabilities
_-_
477,967
Total liabilities

.

26, 581, 943

RESOURCES AND LIABILITIES OF ALL REPORTING BANKS I N THE UNITED

On June 30, 1927, there were 27,061 reporting banking associations
in the continental United States, Alaska, and insular possessions,
with combined resources aggregating $68,132,558,000, and exceeded
by $3,239,196,000 the total resources of 28,146 reporting banks as of
June 30, 1926.
Loans and discounts, including rediscounts, totaled $37,270,378,000,
as compared with $36,233,490,000 the year previous, an increase of
$1,036,888,000. Overdrafts, $43,450,000, were decreased $6,020,000,
and investments in United States and other miscellaneous bonds and
securities, $17,255,093,000, were $1,439,952,000 more than reported
last year.
Banking house, furniture and fixtures, $1,580,105,000, and other
real estate owned, $399,473,000, a total of $1,979,578,000, increased
in the year $127,611,000.
Amounts due from correspondent banks and bankers, including
lawful reserve, totaled $6,900,402,000, and showed an increase in the
year of $131,341,000; checks and other cash items, including exchanges
for clearing house, $2,181,167,000, exceeded last year's figures by
$143,606,000, and cash on hand, $1,007,896,000, was $11,376,000
more than the returns for June 30, 1926. Other resources were
increased $354,442,000.
The paid in capital stock, $3,376,498,000, showed an increase of
$103,195,000, and surplus, $3,764,527,000, and undivided profits,
$1,131,206,000, exceeded last year's figures by $292,559,000 and
$68,035,000, respectively.
The deposit liability of all reporting banks was $56,735,858,000, or
$2,679,481,000 more than in the previous year. In the total of this
item are included individual deposits of $51,132,554,000; certified checks and cashiers7 checks, $1,119,943,000; due to banks,
$4,289,337,000, and United States deposits, $194,024,000. With
the exception of amounts due to banks, which showed a decline in
the year of $41,268,000, each of the other deposit items increased
materially, the largest increase being $2,250,258,000 and appearing
in individual deposits, which include dividends unpaid and postal
savings.
Notes and bills rediscounted, $228,127,000, and bills payable,
$601,381,000, a total of $829,508,000, showed a reduction in the year



102

REPORT OF THE COMPTROLLER OF THE CURRENCY

of $194,286,000. Other liabilities, $1,573,689,000, were increased
$284,713,000.
A summary of the resources and liabilities of these banks follows,
together with a statement showing population of each State, number
of reporting banks, resources and liabilities, and classifications of
loans and discounts, investments, cash, and deposits, June 30, 1927,
with a recapitulation by classes of banks:
SUMMARY OF THE COMBINED RETURNS FROM ALL REPORTING BANKS I N
THE UNITED STATES, ALASKA, AND INSULAR POSSESSIONS, J U N E 3 0 ,
1927

Summary of reports of condition of 27,061 reporting banks in the United Slates,
Alaska, and insular possessions, at the close of business June 80, 1927
[In thousands of dollars]
RESOURCES

Loans and discounts:
On demand (secured by collateral other than real
estate)
3, 683, 919
On demand (not secured by collateral)
1, 087, 934
On time (secured by collateral other than real
estate)
1
3, 930, 726
On time (not secured by collateral)
7, 370, 578
Secured by farm land
377, 241
Secured by other real estate
5, 473, 175
Not classified
15, 346, 805
Total
Overdrafts
Investments (including premiums on bonds):
United States Government securities
State, county, and municipal bonds
Railroad bonds
Bonds of other public service corporations (including street and interurban-railway bonds)
Other bonds, stocks, warrants, etc

37, 270, 378
43,450
3, 829, 447
1, 723, 640
1,659,232
1, 332, 407
8, 710, 367

Total
17, 255, 093
Banking house (including furniture and
fixtures)
1, 580, 105
Other real estate owned
399, 473
Due from banks
3, 967, 448
Lawful reserve with Federal reserve bank or other reserve agents
2, 932, 954
Checks and other cash items
_. 1, 060, 990
Exchanges for clearing house
1, 120, 177
Cash on hand:
Gold coin
35, 189
Silver coin
61, 471
Paper currency
571, 540
Nickels and cents
1, 926
Cash not classified
337, 770
Total
Other resources l
Total resources

1, 007, 896
1, 494, 594
68, 132, 558

i Includes $253,131,000 customers' liability account of acceptances reported separately by national banks
only.




REPORT OF THE COMPTROLLER OP THE CURRENCY

103

LIABILITIES

Capital stock paid in
___'
Surplus
Undivided profits (less expenses and taxes paid)
Reserved for taxes, interest, etc., accrued 2
National-bank circulation
Due to all banks
„
Certified checks and cashiers' checks
Individual deposits (including postal savings):
Demand deposits—
Individual deposits subject to check
21, 144, 148
Demand certificates of deposit
620, 114
State, county, or other municipal deposits
1, 304, 245
Dividends unpaid
70, 429
Other demand deposits
~
716, 195
Time deposits—
Savings deposits including time certificates of
deposit
26, 032, 001
State, county, or other municipal deposits
237, 157
Postal savings deposits
.
112, 535
Not classified____
895, 730

3, 376, 498
3,764,527
1, 131, 206
70, 326
650, 946
4,289, 337
1, 119, 943

Total
51, 132, 554
United States deposits (exclusive of postal savings)
194, 024
Notes and bills rediscounted
228, 127
Bills payable (including certificates of deposit representing money
borrowed)
601,381
Other liabilities...
._.
1, 573, 689
Total liabilities
2

.

Reported separately by national ban

71284°—28




8

_
•

68, 132, 558

Assets and liabilities of all reporting banks in the United States, Alaska* and insular possessions June, 1927
[Includes national, State (commercial) banks, loan and trust companies, savings, and private banks]
Resources (in thousands of dollars)

States and Territories, etc.

Population Num(approxi- ber of
mate)
banks

144
Maine
784,000
123
New Hampshire
456,000
105
Vermont
356,000
442
Massachusetts
4, 225, 000
37
Rhode Island
675, 000
250
Connecticut
1, 596,000
Total New England
States
8,092,000 1,101
New York
11, 600, 000 1,151
568
New Jersey
3, 770, 000
Pennsylvania
9, 500, 000 1,640
Delaware
__
59
240,000
Maryland
_
^ 1,615, 000
244
District of Columbia
510, 000
43
Total Eastern States 27, 235,000 3,705
Virginia
497
2,495,000
339
West Virginia
1,620,000
540
North Carolina
2,880,000
281
1,825,000
South Carolina
471
3,100,000
Georgia
327
1, 265,000
Florida
356
Alabama
2, 500,000
348
1,793,000
Mississippi
232
1,910, 000
Louisiana
1,426
Texas
'.... 5, 220,000
455
1,880, 000
Arkansas
590
2, 515, 000
Kentucky
520
2,450,000
Tennessee
Total Southern
31,453,000 6,382
States
6,460,000 1,067
Ohio
3,130,000 1,065
Indiana
7,175, 000 1,843
Illinois
4,325,000
796
Michigan




Loans and
discounts, Overincluding drafts
rediscounts

Investments

196,042
139, 983
155,001
2,721, 665
274, 314
762,954

108
39
48
374
31
196

213,751
142,478
80,546
1,624, 386
239,178
423,896

4, 249,959
10,150, 482
1,464, 623
3,140,141
78, 406
442, 034
181,841
15, 457, 527
457, 490
299, 713
342, 503
143, 794
297, 641
278, 322
221, 534
157, 586
330, 778
754,466
170, 223
372, 004
333,283

796
2,730
195
872
23
135
74
4,029
243
208
257
259
303
109
132
1,275
1,161
1,655
340
531
890

2, 724,235

4,159,337
1,940,814
673,111
2,700,484
914,625

7,3
932
651
1,762

943,462
699,600
207,137
962,966

4, 500, 055
790, 610
2,270,088
53, 228
312,090
59,691
7,985,762
79,280
65,480
45,402
36,673
54,354
123, 514
50,308
51,354
66,002
186, 635
28,324
107,016
49,120

Lawful reBanking
serve with Checks
and
house, Other real Due from Federal
reserve
other
furniture •estate
banks
owned
banks or
cash
and
other reitems
fixtures
serve agents
15,920
9,238
9,479
160,541
9,431
40,862

5,728
3,435
2,559
138,997
20,597
32,005

521
515
462
22,305
421
2,317

117,008
266,347
71,024
196, 750
3,976
21, 771
20,560
580,428
20,099
19, 511
22,021
7,619
15,178
19,319
10,371
5,714
27,802
45, 733
7,321
6,827
20, 561

44, 596 245,471
5,258 577,485
11, 796 115,181
49, 062 271,151
1,224
3,771
4,376
41, 325
2,584
25, 387
74,300 1,034,300
5,446
54,318
4,463
39,865
3,916
61,829
5,213
27,658
9,019
34, 526
3,407
93,286
4,340
38, 759
2,124
39,453
5,644
47, 787
16,226 146, 758
4,392
18,882
1,006
22,960
5,786
70,854

203, 321
1,036,405
79,045
321, 744
6,278
9,610
1,499, 518
15, 599
8,287
7,682
4,824
31,845
13,666
8,783
3,727
15,032
99,462
31,005
12,919
10,778

26,541
833, 523
7,228
18,296
259
4,577
3,320
867, 203
4,027
872
1,563
874
3,169
3,071
2,000
709
4,356
7,224
739
1,115
6,861

228,076
106,451
39,741
103,907
69,206

70,982
17,928
9,988
16,926
10,008

263,609
221,828
19,069
194,514
123,156

2,921
7,591
14,571
15,646

5,587
5,196
71, 077
6,075
26,087

1,161
137
3,728
30,974
277
8,319

696,935
115,009
107,289
387,349
116,813

Exchanges
for
clearing
house

Cash on Other re- Aggregate
hand

5,633
2,558
2,348
33,221
9,138
14,978

21,728
409
4,559
70, 395
7,232
3,239

466,694
304,088
261,716
4,911,842
571,441
1,320,034

720
15,680
4,425
789,609
2,506
1,678
4,540
1,057
4,067
2,296
1,364
702
10, 203
8,625
256
2,705
1,787

67,876
154, 308
39, 922
100,426
1,907
11,276
5,791
313,630
10,158
9,449
11,469
4,913
8,624
15, 586
9,445
5,441
9,041
29,984
5,950
51,137
9,018

107, 562
681, 081
27,969
74,328
1,438
41,367
1,901
828,084
22,506
2,968
2,776
1,957
4,117

7,835,815
18,894, 762
2,619,291
6,512,856
151, 230
941,067
315,184
29,434,390
671,672
452,494
503,958
234,841
462,843
562,565
349,241
276,588
529,314
1,314,162
268,903
591,418

41,786
7,240
3,018
91,485
31,950

71,845
26,746
65,634
34,075

515
100
37,907
4,747
5,181
48,450
687, 088
11,698

2,205
8,503
11,508
17,394
1,471
13,198
17,888
116,480
53,461
106,052
78,266
40,286

6,744,825
3,238,029
1,200,393
4,617,864
2,267,854

Wisconsin
Minnesota
Iowa
Missouri
Total Middle Western States
North Dakota
South Dakota
Nebraska .
"Kansas
^ ^
Montana
Wyoming
Colorado..
_
New Mexico
Oklahoma
Total Western
States-..
Washington
Oregon
California..
Idaho
Utah .
... .
Nevada
Arizona...
Total Pacific States.

2,920,000
2,645,000
2,525,000
3,465,000

973
1,196
1,438
1,439

632,773
547,023
616,437
890,923

561
560
690
732

271,461
349,815
180,481
350, 298

30,024
21,365
29,641
35,650

32,645,000

8,314
18,306
30,570
13,298

48,132
114,105
114,681
213,596

76,383
30,063
21,042
37,417

5,559
8,700
2,791
2,395

6,544
7,041
3,981
12,007

18,473
25,168
20,955
23,107

2,402
6,902
2,736
22,057

1,100,626
1,129,048
1,024,005
1,601,480

125,338 1,216,974

9,817

8,916,190

6,551

3,931,384

435,985

723,472

60,174

163,266

286,003

313,962

16,179,299

667, 000
690,000
1,375,000
1,840, 000
680, 000
228,000
1,048,000
390,000
2, 332,000

530
417
1,025
1,180
210
88
297
59
696

99,707
90,658
337,926
311,022
83,451
37,299
159,201
20,241
244,901

173
322
771
493
375
68
159
20
475

29,165
28,971
63,814
82,659
46,417
14,352
96,682
11,517
125,260

5,762
5,095
14,471
18,238
4,713
2,127
7,277
1,536
17,776

7,952
6,291
16,955
8,394
3,153
953
3,232
627
4,186

6,992
18,896
71,229
79,212
22,475
8,757
32,230
3,947
88,577

10,955
3,142
12,131
19,921
3,996
1,997
24,164
1,618
23,639

551
296
3,332
2,065
356
313
2,507
227
2,052

275
652
3,078
2,581
484
174
3,015
3,660

3,811
3,583
12,136
12,149
4,565
2,068
8,483
1,403
9,331

383
734
5,579
4,721
404
311
906
161
1,394

165,726
158,640
541,422
541,455
170,389
68,419
337,856
41,297
521,251

9,250,000

4,502

1,384,406

2,856

498,837

76, 995

51,743

332,315

101,563

11,699

13,919

57,529

14,593

2,546,455

1,530,000
860,000
4,350,000
507,000
509, 000
78,000
434,000
8,268,000

358
253
544
144
107
35
46
1,487

260,821
160,569
2,312,236
47,724
111,305
27,824
42,390
2,962,869

214
317
2,376
99
232
74
57
3,369

143, 639
92,102
815,519
25,441
29,175
7,844
19,216
1,132,936

16,283
10,586
98,929
2,923
3,902
1,576
2,071
136,270

2,797
2,232
17,888
1,887
2,584
672
2,513
30,573

35,132
24,791
300,057
12,044
17,609
5,189
9,307
404,129

35,160
21,777
73,704
2,961
5,073
866
1,930
141,471

2,184
1,558
49,806
293
637
121
726
55,325

5,926
3,186
49,543
119
1,765
134
541
61,214

10,212
7,662
51,889
2,371
1,986
1,579
3,190
78,889

7,778
1,975
62,011
1,641
1,625
650
863

520,146
326,755
3,833,958
97,503
175,893
46,529
82, 04

76,543

5,083,588

91,000
Alaska
300,000
The Territory of Hawaii..
Porto Rico
1,370,000
11,100,000
Philippines
Total Alaska and insular possessions- - 12,861,000
Total United States,
Alaska, and insular possessions _ _
129,804,000

17
23
15
12

5,664
55,155
41,622
37,649

25
1,229
143
17,089

4,881
22,938
4,641
6,017

293
2,341
1,298
1,411

103
526
339
973

1,746
10,516
5,282
19,780

63
2,042
916
447

42

956
3,586
3,514
15,698

8
7,310
1,930
28,122

13,781
105,643
61,576
127,186

67

140,090

18,486

38,477

5,343

1,941

37,324

3,468

23,754

37,370

308,186

27,061

37,270,378

43,450

17,255,093 1,580,105

2,932,954 1,060,990 1,120,177 1,007,896 1,494,594

68,132,558

7,796
15,690
618
843
1,647
467

13,955,696
9,534,915
5,064,595
1,144,709
7,479,570
90,893

9,788
29,292

27,061

37,270,378

6,393,218
680,218
3,391,212
462, 665
3, 523,350
93,330
45,857
419,803
294,212
3,498,845
28,665
17,255,093 1,580,105

399,473 3,967,448

1,891

1,933

RECAPITULATION
National banks
State (commercial) banks. _
Mutual savings banks
Stock savings banks
Trust companies
Private banks
Grand total—
1

263
3,690
417
43,450

115,817 1,967,950
152,416 1,101,279
12,668
224,741
24,326
130,824
85,985
520,555
8,261
22,099
399,473 3,967,448

Includes $253,131 000 customers' liability account of acceptances reported separately by national banks only.




1,406,052
698,063
7,408
818,225
3,206
2,932,954

191,054

947,946
364,204
550,000
377,102
413, 739
121,967
209
31,212
2,422
3,167
23,692
502,108
46,845
171,852
2,976
43
3,197
1,060,990 1,120,177 1,007,896 1,494,594
1,094
13,067
572,869

26,581,943
16,564,988
9,011,185
1,815,538
13,994,756
164,148
68,132,558

Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June, 1927—Continued
Liabilities (in thousands of dollars)

States and Territories, etc.

Maine
New Hampshire
_.
Vermont
_
Massachusetts
_
Rhode [sland
_
Connecticut
Total New England States.
New York
New Jersey
Pennsylvania...
_
Delaware
Maryland
District of Columbia
Total Eastern States
Virginia
._
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky,
lessee.
Total Southern States.




Capital
stock
paid in

Undivided
profits
(less
Surplus expenses
and taxes
paid)

17,753
13,201
18,850
6,530
13,324
7,976
196,496
125, 528
28,601
14,265
74,876
42,662
210,162
349,900
629,386 1,373,061
125,903
140,749
349,104
603,515
10, 507
13,001
43, 923
65,769
24,451
17,727
1,183,274 2,213,822
39,086
59,048
26,276
35,012
24,942
38,240
10,284
20,015
24,396
40,795
21,406
36,887
19,761
28,098
10,310
17,006
20,046
33,386
50,772
117,606
9,371
22,617
35,418
43,832
24,861
41,215
533,757

316,929

16,464
11,169
139,178
44,730
237,099
129,702
46,695
154,425
5,289
15,415
7,507
359,033
12,176
10,526
9,961
3,931
13,378
8,841
3,069
26,119
5,263
5,369
2,435
119,594

Reserved
for taxes, Nationalinterest, bank ciretc., ae- culation
crued *

400
58
78
5,777
215
1,183
7,711
19,085
1,457
7,256
23
750

1,053
511
821
335
721
427
536
212
447
2,222
176
1,282
571
9,314

5,679
4,678
4,293
19,531
4,024
10,097

Due to
banks

4,298
4,097
1,255
179,660
5,606
12,824
207, 740

67,445 1,725,540
20,780
50,886
83,211
347,788
],142
1,602
9,553
45,279
3,976
16,616
186,107 2,187, 711
40,902
20,465
10,413
11,846
9,416
10,158
8,036
37,268
5,422
43,643
9,335
2,930
12,083
4,291
47,493
43,231
117,228
3,441
19,175
16,317
27,430
12,914
27,410
152,493 I 437,129

Certified
checks
and
cashiers'
checks

Individual
deposits
(including
dividends
unpaid
and postal
savings)

1,248
381,030
551
253,295
577
221,758
22,745 4,073,262
493,105
1,416
6,021
1,100,935
32,558 6, 523,385
819,745 13,374,564
11,258 2,127,163
31,320 4,706,824
451
115,441
2,281
726,664
1,515
237,324
866,570 21,287,980
3,049
451,823
2,409
342,850
6,215
356,767
745
174,798
1,836
314,406
6,672
417,609
857
256,599
1,131
216,735
3.032
369,023
14; 691
902,229
1,956
197,584
3,473
424,406
1,324
385,078
47,390

4,809,907

Bills payable (including
advances
received
Notes
United and bills from War
Finance
Other
States
Corpora- liabilities
redisdeposits counted
tion and
certificates
of deposit
representing money
borrowed)
190
432
89
23,477
635
1,967
26, 790

15,068
10,691
45,833
75
3,005
3,467
78,139
2,324
437
1,428
1,013
4,495
1,096
2,306
292

1,185
10,778
276
788
1,851
28,269

578
1,065
18,601
127
795
21,814
11,088
9,294
10, 514
475
2,293
6
33, 670
5,003
2,085
6,434
2,057
6,727
1,751
4,968
1,966
9,572
3,738
1,396
618
1,807
48,122

4,761
2,629
2,138
32,906
100
17,847
60,381
96,223
34, 739
804
15,255
948
236,308
8,914
7,532
12,935
4,254
7,614
11,291
6,836
5,355
13,892
12,392
6,855
6,602
6,624
111, 096

21,022
1,221
298
74,681
6,654
6,097
109,973
633,855
39,676
84,727
2,420
10,880
1,349
772,907
27,829
2,597
3,905
969
3,171
6,523
1,505
5,499
18,259
13,156
793
25,883
20,736
130, 825

Ohio

...

Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri

-

-

_

-

-

—
-

-

Total Middle Western States
North Dakota
South Dakota
Nebraska
Kansas
._
Montana
Wynmirig
„
...... . . . . . .
Colorado
.
-New Mexico
Oklahoma
......
Total Western States
Washington
Oregon
California
Idaho
. __,
Utah
Nevada
~
_
Arizona
„
Total Pacific States.. —
Alaska
The Territory of Hawaii
Porto Rico
Philippines
„ Total Alaska and insular possessions..
Total United States, Alaska, and insular possessions

178,970
80,216
273,232
119,992
64,178
62,586
71,102
121, 6S4

141,882
42,254
196,346
100,470
34,527
33,819
31,406
64,076

55,617
22,466
115,496
34,092
20,160
16,253
13,353
33,279

1,667
537
7,286
1,435
2,262
3,152
562
393

36,870
22, 775
34,628
13,929
16,045
13,976
15,176
16,373

133,851
49,320
400,502
74,654
53,085
83,255
55,448
142,751

4,915
6,305
48, 739
13,046
5,936
10,266
2,574
11,120

2,537, 421
823,327
3,422,618
1,784,456
881,151
890,043
814, 568
1,147, 696

4,152
1,707
6,090
5,629
1,613
4,142
1,936
2,975

6,634
37,899
13,972
4,736
6,645
1,913
5,175
14,762

33,754
10,835
22,327
28,857
7,777
7,232
3,938
22,778

102,296
102,752
76,628
86,558
7,247
2,411
8,767
23,593

971,900

644,780

310,716

17,294

169,772

20
101
784
466
208
100
704
7
403

3,498
2,269
7,803
9,856
2,353
1,666
4,306
1,245
6,955

1,100
1,172
4,093
3,589
1,360
357
3,397
399
7,439

28, 244
172
708
573
1,070
305
105
257
113
1,350

91, 736
1,088
1,345
2,929
5,086
618
482
1,272
194
2,979

410,252

753
944
5,299
6,346
2,308
838
4,785
262
3,892

12,301,280
134,989
128, 615
411,846
406,741
139,432
54,899
270,946
33,413
407,996

137,498

5,101
4,381
13,837
21,541
4,204
2,684
12,059
1,293
9,037

992,866
3,484
4,944
52,270
34,897
6,924
2,489
20,127
920
45,049

102,901

12,893
12,047
36,918
43,443
11,735
4,225
18,157
3,218
34,479
177,115

2,597
1,958
4,736
1,841
903
410
1,312
171
918

31
156
334
6,579
39
164
534
62
754

74,137

25,427
5,277
4,768
57,654
1,307
1,752
616
945
72, 319

2,793
622
385
2,985
58
193
59
31

39,951
9,439
2,998
35,358
1,984
2,192
1,197
652

171,104
28, 911
17, 782
210,839
2,564
13,320
1,587
1,787

22,906
4,597
3,265
34,283
975
1,097
939
1,106

1,988,877
414, 675
263,087
3,043,928
78,413
119,877
37,052
69,005

4, 653
2,672
265
22,470
121
30
95
118

15, 993
1,648
1,558
11,246
802
837
19
299

14,846
1,814
2,556
30,647
1,031
1,338
233
440

8,653
5,073
1,152
73,454
1,378
17,521
281
744

4,333
3
9

53,820
59
442

276,790

46,262
82
464
653
157

25, 771

16,409

38,059

410
1,514
234

10
373

317
2,758
118

99,603
10
5,949
4,239
31,278

1,356

4,026,037
11, 653
79,214
37,990
66,231
195,088

2,158

383

3,193

41,476

1,119,943

51,132,554

194,024

228,127

601,381

1, 573, 689

538,990
195, 514
44
451
384, 632
312
1,119,943

18,239, 353
12, 936,590
8,077,099
1, 661, 803
10,094,485
123,224
51,132,554

139, 843
5,085

120, 024
53, 360

562
48, 534

1,401
52, 951
391
228,127

248,018
214,535
568
2,270
123, 892
12,098

477, 967
460,965
13,107
3,989
611,327
6,334
1, 573, 689

31,555
20,702
192,209
6,562
11,598
3,262
5,117

271,005

13,863
8,237
118,885
2,308
6,138
1,189
2,560
153,180

840
8,338
7,279
12,768
29, 225

329
5,078
2,222
4,150
11,779

7,018

12

501

39
1,619
4,969
9,370
15,997

3,376,498

3,764,527

1,131,206

70,326

650,946

4,289,337

1,256,945
735,949
782,927
46,554
932,337
9,815

508,421
270,096
137, 332
18,030
195, 617
1,710
1,131,206

356
2,689
859
3,114

RECAPITULATION
National banks. _
State (commercial) banks.
Mutual savings banks
Stock savings banks
Trust companies
_.
Private banks__
Grand total
1

69,144
745,647
9,447
3,376,498

Reported separately by national banks only.




3,764,527

70,326

70,326

650,946

650, 946

2,856,937
614, 807
108
11,334
805,334
817
4,289,337

194,024

601,381

Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June,

1927—Continued

[In thousands of dollars]
Investments

Loans and discounts

States and Territories, etc.

Maine
New Hampshire.
Vermont
Massachusetts. - Rhode Island
Connecticut
Total New England States.--1
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia.
Total Eastern States.
Virginia—
_
West Virginia...
North Carolina.
South Carolina..
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
_
Tennessee
Total Southern States...




On
On
On time,
demand, demand, secured by On time,
secured by
not
not
collateral secured by
secured other than
collateral
collateral
by colother than
real estate
lateral
real estate

12,878
9,831
5,078
240,402 I
19,296
49,623

Secured
by farm
land

Secured
by other
real estate

Not
classified

United
States
Government
securities

11,464
7,381
3,174
393,997
9,313
30, 635

25,666
26,197
5,258
267, 259
36,476
127,315

47,476
44,335
38,812
234,304
84,629
67,986

369, 563

455, 964

488,171

517,542

892,995

616,485
144, 265
552,938
5,699

129,477
127,574
179,044
7,023
23,710
1,701
468,529

196,937
209,199
502,954
12,521
77,254
7,193
1,006,058

129,780
92,212
305,215
11,531
55,547
8,214
602,499

3,427,376
217,360
729,937
16,454
87,196
19,020
4,497,343

5,755
1,011
6,720
3,575
3,761
46,259
7,183
33,129
1,727
20,065
4,005
2,532
3,212

2,697
2,074
68
410
1,035
2,629
13,314
402
105
4,166
193
6,070
775

1,878
3,132
109
1,005
1,168
2,044
1,888
552
81
3,575
140
5,337
1,200

138,934

33,938

22,109

37,952
35,380
10,718
15,875
21,952
23,952
9,334
7,444
44,768
35,881
9,785
53,714
26,456
333,011

11,790
4,070
4,153
271,314
46,905
42,565

34,271
17,958
17,367
538,825
78,602
72,013

1,261
348
1,198
1,985
102
387

6,887
85,457
92,739
1,355,495
121,455
417,565

337,108
931,920
279,968
818,776
24,264
100,890
62,102
2, 217,920

138,089
93,851
81,114
267,736
4, 613
29, 861
5,985
483,160

380,797

759,036

5,281

2,079, 598

631,613
97,081
411,006
9,281
62,019
20,238

1,229,632
585,882
1,041,070
18,600
158,844
63, 597

8,023
3,342
20,846
2,656
7,717
199

62,374
404,592
577,343
18,992
14,662
29,641

7,193,069
12,644
3,364

1,231,238

42,783

7,277,197

17,780
7,967
4,480
6,606
23, 793
24,184
5,551
818
5,816
72,105
6,661
20,139
13,212

8,537
4,510
2,631
3,050
4,894
4,180
4,385
538
6/281
30,567
983
11,243
4,026

74,052
31,342
34,636
24,403
52,971
36,971
38,233
18,240
19,854
296,014
16,822
40,403
41,452

3,097,625
150,838
76,865
78,756
35,860
77,221
56,530
62,607
24,378
40,549
288,746
27,014
92,894
98,042

1,107,604

5.812
872
2,509
3,463
5,480
1,636
4,071
3,186
3,616
25,181
3,795
5,806
3,678

9,431
8,620
3,479
2,904
6,391
10,293
3,828
3,936
2,089
22,744
25,820
5,828
4,443

191,040
169,537
216,012
67,508
126,891
144,528
102,859
106,490
252,573
19,109
89,128
195,691
168,430

.1,411,333
30,998
23,883
27,787
15,808
26,438
48,630
18,589
9,827
19,321
123,148
14,201
39,363
17,477

209,112

85,825

725,393

1,110,300

69,105

109,806

1,849,796

415,470

161,628
550,050

68,041
79

Railroad
bonds

36,800
28,463
14, 654
150,372
66,947
72,327

9,732
6,172
6,324
88,734
7,954
19,173

119,223
16,147
28,142
224,910

State,
county,
and
municipal
bonds

Bonds of
other
public
Other
service
bonds,
corporations
stocks,
(including warrants,
street and
etc.
interurban
railway
bonds)

23,563

92,345
36,102
18,648
578,454
41,813
125,633

Ohio

Indiana
_.
Illinois
Michigan
Wisconsin
._ >
_
Minnesota
Iowa »
_
Missouri
Total Middle Western StatesNorth Dakota
South Dakota __.
Nebraska
Kansas
Montana
Wyoming
Colorado . _
New Mexico
Oklahoma
Total Western States
Washington
Oregon
California _>_
Idaho
Utah
Nevada
Arizona
Total Pacific States
Alaska
The Territory of Hawaii _
Porto Rico
Philippines
Total Alaska and insular
possessions
Total United States, Alaska,
and insular possessions

86,056
11,989
255,342
40,252
20,338
56,905
12,844
67,340
551,066
1,124
933
13,393
155,759
11, 772
982
10,567
1,160
20,273

222,117
2,343
865
15,575
6,161
7,048
528
4,838
802
7,440

815,368

93,384

21,717
48,145
94,767
47,911
26,529
12,696
78,733
8,741
83,712

1,420,048
14,398
29,093
142,805
59,782
21,810
5,740
51,800
6,586
75,233

600,437
11,696
305,261
104,618
9,790
9,016
6,693
8,223
1,055,734

7,455
10,449
27,273
7,449
2,266
1,160
4,811
1,290
5,187

1,926
1,173
8,427
33,346
5,939
721
8,178
1,472
5,405

215,963
14,218
14,743
88,183
1,269
7,102
8,302
6,454

45,600
6,534
12,055
73,335
511
2,095
2,937
520

422,951

407,247

66,587
2,500
1,816
994,256
623
25,104
3,765
6,955

158,718
107,728
58,377
509,993
18,954
9,221
175
843

79,027

80,066
46,564
368,536
13,170
32,114
2,911
12,264

67, 340
3,540
3,416
73,112
2,611
6,714
3,850
3,830

211,286

46,235
23,598
204,821
10,586
28,955
5,884
11,524

49,050
36,491
357,473
7,072
8,217
2,786
9,747

140,271

97,987 |
522
7,206
6,372
1,056

331,603
174
10,860
10,359
1,983

555,625

97,073
8
274
1,919
74

1,035,019

705,291

1,037
12,357
2,671
2,762

2,780
14,328
1,570
28, 602

470,836
1,712
4,443
1,699
333

22,070
14,773
95,917
2,325
5,049
1,655
3,027
144,816
542
3,425
774
165

116
7,966
2,702
1,695
12,479

58,461 I
9,577
64,495 1
5,232
16,668
28,224
11,224
28,236

15,156

3,683,919 1,087,934

79,850
46,658
2S0.fil8
116,967
60,855
80,946
50,645
128,829

195,618
145,132
443,893
144,044
138,294
120,549
97,644
134,874

12,801
10,525
16,084
6,957
7,337
17,024
18,861
3,795

1,027
2,164
16,029
1,477

907,591
437,534
1,364,791
496,555
379,491
234,359
418,526
519,626

207,946
68,984
324,037
47,144
65,724
110,098
62,230
56,610

145,623
8,940
181,554
28,744
13,547
22,767
7,986
22,403

15,176
8,655
19,120
7,462
7,229
19,870
3,791
11,979

4,758,473
50,744

942,772
9,981
15,269
23,026
32,392
18,632
5,871
42,642
8,013
55,460

431,464
2,002
3,505
7,990
20,636
2,313
1,174
15,272
811
25,324

93,281

35,686
614
8,087
15,472
274
190
47,651

316,471
105,464
399,633
811,445
164,817
185,754
96,375
251,170

917
786
5,427
570
1,260
406
5,633
349
768

14,486
15,094
38,622
14,831
20,144
11,326
10,099
8,136
132, 738
2,180
1,528
7,377
825
1,740
511
6,356
145
1,036

2,331,129
14,085
7,883
19,994
28,236
22,472
6,390
26,779
2,199
42,672

16,116
8,515
3,401
5,573
117
1,659
138
519

21,698
6,109
3,302
18,620
518
2,219
268
1,269

170,710
57,895
34,135
337,936
15,409
12,031
2,997
4,654

19,922

32,305
472
2,740
220
84

465,057

430
673
79
564

1,725
11,657
1,869
4,871

23,376

20,697

2,275

18,827

47,280

8,187

4,906

1,746

3,516

20,122

3,930,726

7,370,578

377,241

5,473,175

15,346,805

3,829,447

1,723,640

1,659,232

1,332,407

8,710,367

RECAPITULATION
National banks
State (commercial) banks__
Mutual savings banks
Stock savings banks
Trust companies
Private banks
Grand total




2,566,471
247,380
21,393
9,905
837,559
1,211

356,851
5,087

6,125,942
335,225
8,971
12,615
882,505
5,320

305,209
48,737
441
3,367
15,686
3,801

757,316
1, 036,418
1,897,472
757,950
1,016,176
7,843

118,680
7,508,810
3,125,200
355,119
4,172,365
66,631

2,596,178
529,731
220,841
108,421
371,032
3,244

743,539
286,401
458,015
22,824
211,205
1,656

656,690
65,810
652,014
13,968
270,175
575

3,930,726

7,370,578

377,241

5,473,175 15,346,805

3,829,447

1,723,640

1,659,232

821,795
65,626

3,260,283
292,719
11,118

198,428
1,000
1,087,934

648, 767
60,945
374,937
3,042
243,741
975

1,748,044
2,448,325
1, 817,543
271,548
2,402,692
22,215

1,332,407 8,710,367

Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June,

1927—Continued

fin thousands of dollars]
Demand deposits

Cash

States and Territories, etc.

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut

Gold
coin

Savings de- State,
Individual Demand State,
county, Postal not classiOther
fied
Silver Paper Nickels Cash not deposits
cluding
certifi- county, Diviand classified subject to cates of or other dends demand time cer- or other savings
coin currency cents
unpaid deposits tificates of municipal deposits
check
deposit municipal
deposits
deposit
147
165
94
1,269
447
817

1,584
1,491
894
14,285
7,898
12,996

2,306

2,939

39,148

1,141
1,587
5,618
79
464
96

3,626 116,151
2,148 35,576
7,021 87,288
141
1,672
670
9,879
246
5,333

375
499
15
263
116

13,852 255,899

1,268

97
81
60
434
710
924

_

Total New England States.
New York
New Jersey
Pennsylvania
Delaware
_
Maryland
District of Columbia
Total Eastern States

353
173
164
143
355
168
322
250
340
1,543
321
237
217

588
329
411
565
1,334
470
477
815
1,215
4,522
816
493
438

4,711
3,534
3,252
4,205
6,935
5,049
4,185
4,376
7,486
23,633
4,813
3,584

Total Southern States.-.-.

4,586

12,473

79,450

Ohio.-———
Indiana
-__-_.-»-_-.-__.---.---

598
901

1,408
1,048

14,694
9,370

Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
_
Kentucky
Tennessee

,

-




Time deposits

3,805
821
1,300
17,233
11
185
128

79,280
27,257
1,059,964
126,811
264,982

1,746
960
15,605
7,286
14,041

18
417
4,354
13,386

297,908
213,218
193,126
2,443,879
349, 640
794,513

85
120
. . 287
..
9
57
3,606
447
449

23,355

1, 595, 290 42, 734

50, 601

4, 292, 284

6,178, 806
791, 660
2, 051, 775
50,305
278, 615
138,491

41,906
20,125
27,396
97
878
815

125,289 13,191 452,392
54, 634 4,221
3,801
47,247 14, 750 17, 645
222
7,852
4
8,469 1,247
222
414
1,272
5,061

6, 523,446
1, 223,172
2, 532, 232
55,984
435, 557
90,438

17, 974 21, 560
3,589 1,848
5,879 9,900
105
13
102
1, 574
333
500

33, 626
r
—
4,506
5,413
7,642

9,489, 652

91,217

244, 763 34, 045 479,125

10, 860,829

29, 529 33, 848

103

188,779
170, 541
158,301
70,928
158,085
208,340
144,208
83,744
216,494
614,504

10,616
2,910
6,909
787
6,248
1,844
1,958
321
1,924
10,928

46,823
4,676

183

183

109,252
209,134

665

83,523

2,425,590

55,145
15,427

4,625

10
845
64
42,838
55
6,789

33,390
236

9,899
4,461

18,175

513
203
285
2,473
153

4,938
3,760
30,109
5,221
2,846
19,722
2,940
31,517
4,533
71,580
21,260
1,541
1,380

2,213
1,113
779
402
688
490
455
248
906
1,820
186
648
407

154
2,292
2,815
100
6,253
9,388
285
270
14,437
5,959
1,671
435
178

243,655
161, 642
156,586
91,366
139,029
159,889
105,408
97,198
129,241
183,624
72,776
90,142
171,734

52,945

201,347

10,355

44,237

851,526 33,776
371,426 112,237

198,389
20,649

1,334
1,362

22,230
751

4,937

5,576

504,480
"~4,~683
509.163
24,113

24, 972

1,292
306
1,117
5,220
472
14,538
1,103
3,197
1,330
10,163
224
78
1,160

176
286
151
774
785
3,398
242
240
158
2,233
348
181
219

1,802,290

40,200

9,191

223,752

1,404,126
296,500

24,989

1,051
598

18,824

1,418
870
221,464

Michigan

Wisconsin
Minnesota
Iowa
Missouri

. ....

,

78,088
74, 599
27,431
8,424
12,644
10,930

96,947
26,127
12,822
34,268
3,368
10, 653

7,054
2,773
1,266
890
238
563

1,954
75,212
496
11,499
951
349

1,452,879
1,000,518
510,846
521,882
486,858
394,292

10,207
3,472
2,243
2,947
2
2, 443

3,561
1,650
912
5,766
6,882
1,951

220

141, 626

5,242,910

358,129

403,223

15,480

113,442

6,067,901

47,285

22,369

30,541

2,216
1,927
3,787

3,776
3,560
12, 763
17,992
2,947
1,239
4,874
1,276
5,053

3,348
11,303
23,112
46,166
16,115
4,355
10, 528
5,558
44,061

24
35
176
480
75
58
295
21
306

607
728
150
1,699
218
23
2,174
56
1,093

78,928
63,005
198,703
120,292
57, 615
21,408
105,376
7,582
72,988

1,280
634
711
585
1
9
1,874
274
8,728

961
2,782
384
2,138
5,426
1,201
3,566
904
3,668

315

2,539

45,750
46,568
175,847
216,948
57,035
26,606
142,259
17,643
191,336

. ., _
„__

99
80, 763

Total Western States

26

11,307

919, 992

53,480

164, 546

1,470

6,748

725,897

14,096

21,030

81,618

15

4,084
3,920
28,187
1,130
1

9

2

156,586
114, 553
1, 000, 378
34, 056
46,324
14,956
37,586

3,282
4,059
7,936
1,601
945
264
124

52,255
26, 707
160,389
11,841
4,228
945
1,914

532
334
3,047
68
197
37
38

1,202
1,384
8,480
229
781
417
49

194,714
113, 541
1, 764, 752
28,140
66,038
19,587
26,289

920
302
93,603
126
940
276
1, 744

5,184
2,207
5,343
2,352
424
300
1,048

270
213

29,941

24

37,324

1, 404,439

18,211

258,279

4,253

12,542

2,213,061

97, 911

16,858

483

727
2,994
2,715
5,148

1
2
58
16

127
24
6,858

5,427
26, 793
16, 662
17,393

193
1,873
217
1,115

967
8,304
4,641

13
123
64
1

14
3,403
1,031
5,052

4,544
34,470
13,388
17,337

1,543
1,656

495
19
139
3,010

2,686
192
22,323

4,292

11, 584

77

7,009

66, 275

3,398

13, 912

201

9,500

69,739

3,199

3,663

25,201

35,189

61,471

571,540

1,926

337,770

21,144,148

620,114 1,304,245

70,429

716,195

26,032,001

237,157 112,535

895,730

17,121
10, 299
1,166
1,999
4,563
41

37,743
19,317
122
9
4,182
98

309,340
142,140
4,031
1,279
113, 502
1,248

643
26
74
1,172
11

241, 340
25,867
20,331
48,433
1,799

9, 787, 513
5,743, 936
7,909
122, 744
5,439,858
42,188

200, 756
69, 677

79,160
116,005
2,866

36, 550
12.886
610
66
20, 304
13

166
437,197
8,399

7,013,662
6,091,054
8,054,868
1,453,035
3,366,737
,52, 645

35,189

61,471

571, 540

1,926

337, 770

21,144,148

620,114 1,304,245

70,429

716,195

26, 032, 001

55,944
7,491
14,779
7,507
6,572
5,434

14,072

121,791

77
72
973
881
311
97
1,681
67
231

318
281
1,675
2,834
537
141
1,057
200
1,036

1,200
1,303
5,701
8,434
3,678
1,010
5,745
1,131
5,525

8,079

33, 727

337
364
4,366
73
348
163
185

__.____-.__ .

TotaJ Middle Western States.
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado __„._
New Mexico
Oklahoma

2

16,264
12,883
16, 528

1,771,928
599,463
325,135
295, 650
301,267
726,515

6,165
806
1,842
1,016
994
793

4,390

--

3,525
394
1,639
381
504
352
8,294

Illinois

1,031
593
2,914
220
380
163
463

4,760
2,785
16,422
948
1,242
1,253
2,531

5,836

5,764

155
87
276
274

73
376
441
3,402

792

5
213

25,379

21

18
820

5

642
8,717
2,358

441

•

Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Total Pacific States

.._

Alaska

The Territory of Hawaii
Porto Rico
Philippines.„
_..
Total Alaska and insular possessions _
Total United States, Alaska, and
insular possessions.
_
_

RE CAPITULATION

National banks
State (commercial) banks .
Mutual savings banks
Stock savings banks
Trust companies
Private banks
_
Grand total




205,075
257, 697
470
3,664
141,806
11,402

693,835
412, 379

224,848
4,471
114
201
7,523

77,114
15,480
2,757
17,181
3

329,010
13,128
10
547,874
5,708

237,157 112,535

895, 730

112

REPORT OF THE COMPTROLLER OF THE CURRENCY
INDIVIDUAL DEPOSITS I N ALL REPORTING BANKS

The total individual deposits in all reporting banks, including
demand, time, public funds, dividends unpaid and postal savings,
but exclusive of United States deposits, were $51,132,554,000 on June
30, 1927, showing an increase in the year of $2,250,258,000.
Individual deposits subject to check showed an increase of $2,935,526,000; demand certificates of deposit an increase of $47,381,000;
dividends unpaid an increase of $14,768,000, and savings deposits,
including time certificates, an increase of $1,870,448,000. Postalsavings deposits also were greater by $7,004,000 in the current year.
Classification of deposits of each class of reporting banks follows:
Individual deposits in each class of banks June 80, 1927
[In thousands of dollars]
Demand deposits
State,
Individual Demand county, or
Number deposits
certifiother muof banks subject to cates of
nicipal
check
deposit
deposits

_

Total
National banks
Grand total

5,743,936
5,439,858
122,744
7,909
42,188

257,697
141,806
3,664
470
11,402

412,379
116,005
79,160

19,265 11,356,635
7,796 9, 787,513
27,061 21,144,148

State (commercial) banks
Loan and trust companies
Stock savings banks
JWiitjiJvi sowings bflnkp
Private banks"

415,039
205, 075
620,114

Dividends
unpaid

15,690
1,647
843
618
467

Other
demand
deposits

69,677
437,197
166

2,866

12,886
20,304
66
610
13

610,410
693, 835

33,879
36,550

515,439
200,756

1,304,245

70,429

716,195

8,399

Time deposits

Savings
deposits i

State (commercial) banks
Loan and trust companies
Stock savings banks
Mutual savings banks
Private banks
Total
National banks
Grand total

_ ~-

._ -

State,
county,
or other
municipal deposits

Postal
savings
deposits

6,091,054
3,366,737
1,453,035
8,054,868
52,645

4,471
7,523
201
114

15,480
17,181
2,757

19,018,339
7,013,662

12,309
224,848

26, 032,001

237,157

Deposits
not classified

329,010
547,874
10
13,128
5,708

12,936,590
10,094,485
1,661,803
8,077,099
123,224

35,421
77,114

895,730

32,893,201
18,239,353

112,535

895,730

51,132,554

3

i Includes time certificates of deposits and items reported as " Other time deposits."




Total

REPORT OF THE COMPTROLLER OF THE CURRENCY

113

RESOURCES AND LIABILITIES OF ALL REPORTING BANKS, J U N E 3 0, 1 9 2 3 - 1 9 2 7

The principal items of resources and liabilities of all reporting
banks for the five years 1923 to 1927 are shown in the following
statement:
[In thousands of dollars]
1923 (30,178 1924 (29,348 1925 (28,841 1926 (28,146 1927 (27,061
banks)
banks)
banks)
banks)
banks)

Classification
RESOURCES

Loans and discounts (including rediscounts)
Overdrafts
Investments
Real estate, furniture, etc. 1
Due from other banks and bankers'
Checks and other cash items 3
Cash on hand 4
Other resources
Total-

30,416,577 31,427,717 33,883,733 36,233,490
57,982
56,334
50,259
49,470
13,672,547 14,228,745 15,400,113 15,815,141
1,432.217
1,590,259
1,736,585
1,851,967
5,597,150
6,121,093 6,774,392 6,769,061
1,196,075
1,992,370
2,181,137
2,037,561
797,101
911,500
951,286
996,520
865, 262
1,140,152
816,672 1,079,532
s'034,911 i 57,144,690

Capital stock paid in
3,052,367 3,114,203
2,799,494 2,967,359
Surplus fund
954,145
Undivided profits
971,730
Reserved for taxes, interest, etc., accrued 5_.
720,001
Circulation (national banks)
729, 686
3,610, 211 3,928,292
Due to other banks and bankers
358,110
664,857
Certified checks and cashiers' checks
40,034,195 42,954,121
Individual deposits
238,439
152,302
United States deposits
2,267,949
1, 662,140
Other liabilities 6
Total..

62,057,037

37,270,378
43,450
17,255,093
1,979,578
6,900,402
2,181,167
1,007,896
1,494,594

64,893,362

68,132,558

3,169,711 3,273,303
3,173,334
3,471,968
1,007,439
1,063,171
60,078
64,618
648,494
651,155
4,370,909
4,330,605
698, 861
655,649
46,765,942 48,882,296
147,220
187,827
2,015,049 2,312,770

3,376,498
3,764,527
1,131,206
70,326
650,946
4,289,337
1,119,943
51,132,554
194,024
2,403,197

64,893,362

68,132,558

54,034, 911 57,144, 690 62,057,037

1 Includes banking house and other real estate owned.
2 Includes lawful reserve with Federal reserve banks.
* Includes exchanges for clearing house.
* Includes acceptances reported by national banks.
« Reported separately by national banks only.
* Includes bills payable and rediscounts.

Principal items of resources and liabilities of all reporting banks in continental
United States, as compared with similar data from reporting member banks oj
the Federal reserve system, on or about June SO, 1927
Member banks

Items

Loans 3
Investments
Cash
.___._.
Capital
Surplus and undivided profits.
Deposits (individual)
Aggregate resources

Per cent
All reportto all reing banks: J
26,994
Per cent porting
9,099
banks (000 banks (000 to all re- banks,i
except
omitted)
porting
omitted)
banks 1 mutual
savings
and
private

Mutual
Private2
savings
banks:
banks: * 467 banks
618 banks (000 omit(000 omitted)
ted)

$37,155, 252 $23,148, 726
17,216,616 9,818,274
984,142
537,856
3,347,273
2,273, 737
4,876, 936 2,873, 661
50, 937,466 29,945,078
67,824, 372 42, 810,192

$5,064,595
3,523, 350
31,212

* Exclusive of banks in Alaska and insular possessions.
* Included in all reporting banks in column 1.
»Including overdrafts.




62.30
57.03
54.65
67.93
58.92
58.79
63.12

72.34
71.85
56.63
68.12
72.84
70.07
72.99

920,259
8,077,099
9,011,185

$91,310
28,665
3,197
9,447
11,525
123,224
164,148

114

BEPORT OF THE COMPTROLLER OF THE CURRENCY
CASH IN ALL REPORTING BANKS

The total cash holdings of all banks June 30, 1927, including the
12 Federal reserve banks, amounted to $4,247,814,000, which was an
increase of $223,133,000 in the year. Of this total $364,204,000, or
8.57 per cent, was held by 7,796 national banks; $643,692,000, or
15.15 per cent, by 19,265 banks other than national, and the remainder, $3,239,918,000, by the 12 Federal reserve banks.
Classification of cash in banks follows:
Cash in banks June 80> 1927
[In thousands of dollars]

Classification

Gold coin
Gold certificates
Silver coin
Silver certificates
Legal-tender notes National-bank notes—.
Federal reserve notesfi .
Nickels and cents
Cash not classified
'

_

_

Total —
Cash in Federal reserve banks June 30,1927:
Gold coin and certificates (reserve)
Reserves other than gold
.
Nonreserve cash

7,796
national
banks

19,265
State,
etc.,
banks

18,068
17,121
2 47,816
23,728
8 37, 556
30,125
27,276
67,987 * 262,200
136, 323
1,926
337,770
364,204

643,692

35,189
47,816
61,284
30,125
27,276
330,187
136,323
1,926
337,770
1,007,896
3,020,510
163,299
56,109
4,247,814

Grand total
* Number of banks includes 12 Federal reserve banks.
* Includes clearing-house certificates.
«Includes nickels and cents.

Total,
27,073
banksi

«All paper money.
' Includes Federal reserve bank notes.

RESOURCES AND L I A B I L I T I E S OF ALL REPORTING B A N K S J U N E
FIVE-YEAR PERIOD, 1 8 9 0 - 1 9 2 5

3 0 , EACH

In the summaries following are shown the resources and liabilities
of banks other than national, national banks, and combined figures
for all reporting banks in the United States, on or about June 30,
each five-year period, 1890 to 1925, inclusive.
These summaries are supplemented by tables, according to States,
appearing in the appendix of this report, showing the resources and
liabilities of State and national banks as of the dates for which
available figures have been previously published in each of the comptroller 's annual reports for the years mentioned.




Resources and liabilities of all reporting State banks on or about June 80, each five years, 1890 to 1925, inclusive
[Includes State (commercial), savings and private banks, and loan and trust companies]
[In thousands of dollars]
1920
1925
1900
1915
1890
1895
1905
1910
(4,704 banks) (6,103 banks) (6,650 banks) (10,742 banks) i (15,950 banks) (19,457 banks) (22,109 banks) (20,769 banks)
RESOURCES

Loans and discounts (including rediscounts).
Overdrafts
_
Investments
_
Banking house, furniture and fixtures
Other real estate 2owned
Due from banks
Checks and other cash items
Exchanges for clearing house
Cash on hand
Other resources
Total.

1,905,675
8,243
861, 731
84,562

0)

5,072,088
25,673
2, 748,448
230,724

3,001,680
11,770
1,723,830
166,752

2,245,411
6,872
1,118,159
120, 763

0)

17,171,091
92,705
7, 201,060
503,197
92,825
2, 712,040
450,257
83, 695
626,027
734, 958

21,033,083
40,907

558, 356
151,190

9,062,469
31,059
3,813, 563
359, 016
112, 612
1,644, 965
32,349
94,240
599, 945
258, 227
16,008,445

29,667,855

37, 706,174

7,029,269
3, 111, 410
237, 705
100,063
1,191, 401
109,631

0)

0)

320,721
(3)
227,743
99,322

582,032
52,997
220,667
81,931

974,930
77,455
314, 248
146,835

4,138,991

5,841,659

9, 590,401

12, 553,696

329,580
230,120
61,885
45,799

422,053
293,265
77,132
73,871

404,473
390,859
98,516
109,570

671, 599
640,185
184,058
357,192

2,548,990

3,185,871

4, 781,918

7, 568,154

890,377
903, 060
191,136
325, 245
103, 019
9,898,873

2,594,789

3, 259, 742

'~4~891,"488~

"7," 925," 346"

206,913
(3)
185,790
35,395
3,288,309 I

i

815,832
224,295
3,480, 607
803,933

n
o

591,681
807,501

LIABILITIES

Capital stock paid in
Surplus
_
Undivided profits.....
Due to banks
Certified checks and cashiers' checks
Individual deposits (including dividends unpaid).
United States deposits
_._
Total deposits
Notes and bills rediscounted
Bills payable
Other liabilities
Total.
i I n c l u d e d in banking house, furniture and fixtures.




86,799

56,323

169,213

4,138,991

71,935

10,327,137
13,099
70, 644
158, 243

5,841,659

9, 590,401

12, 553, 696

s Includes lawful reserve.

3

Included in cash on hand.

1,094,322
1,800,276
1,478,473
1, 010,829
1,423, 962
2,054,406
325, 022
429,473
525, 728
864,282
575, 306
1,484, 509
84,574
93, 365
138, 605
i 12, 541, 757 * 23, 609, 798 * 30,411,030
39,119
32,073, 263
13,210,428 i 24,558, 654
284,746
19,533
94,025
794, 046
108, 562
352, 270
698, 501
239, 749
806,206
16,008,445

29, 667,855

* Includes postal savings.

O

37, 706,174

3
o

Resources and liabilities of national banks on or about June SO, each five years, 1890 to 1925, inclusive
[In thousands of dollars]
1915
1925
1905
1910
1920
1890
1895
1900
(3,484 banks) (3,715 banks) (3,732 banks) (5,668 banks) (7,145 banks) (7,605 banks) (8,030 banks) (8,072 banks)
EESOUECES

Loans and discounts (including rediscounts)
Overdrafts
__
Investments (including premiums on bonds)
Banking house (including furniture and fixtures).
Other real estate owned.
_
Due from banks 2
Checks and other cash items
Exchanges for clearing house
_
Cash on hand
Other resources

1,933,509
0)
310,698
64,180
11,478
325,341
13,875
293,063
21,389

2,004,476
12,164
447,171
77,857
25,082
393,728

14,037,051
16,481
4,186,465
359,994
44,960
3,121,201
157,611
766,215
450,351
270,924

12,850,650
9,352
5,730,444
585,267
111, 191
3,293,785
150, 244

11,795,685

23,411,253

24,350,863

989,567
644,857
222,224

1,068,519
722,089
314,755

1,224,166

722,704
2,208,006
136,128
3 6,428,144
48,964
8,821,242

12,633
27,365

3,784,987
75,298
5,407,454
5,591
21,574
40,873

675,633
1,900,136
216,694
5,085,667
54,541
7,257,038
14,019
55,683
37,604

58,201
48,256

411,525
61,718
688,178
2,844,020
430,288
313,705,325
175,788
17,155,421
1,214,516
991, 552
677,793

1,369,435
1,118,928
481,711
60,078
648,494
2,886,400
560,256
3 16,354,912
108,101
19,909,669
233,874
245,107
283,567

4,944,166

7,327,806

9,896,625

11, 795, 685

23,411, 253

24,350,863

3,061,771

3,470,553

4,944,166

7,327,806

642,074
212,615
79,855

247,782
81,222

621,537
256,249
135,298

791,567
413,436
201,855

126,324
423,602

178,816
526,673

1,062,904

445,456
1,547,169

1,524,590
30,578
1,978,770
15,028
7,028
77

1,739,052
13,167
2,278,892

2,459,766
98,872
3,621,542

12,251

3,061, 771

Total.

3,899,170
30,367
1,239,463
130,006
20,155
1,007,028
28,112
267,856

358,038
55,570

2,623,512
20,725
774,551
80,224
27,180
690,743
22,561
159,190
526,079
19,401

3,470,553

25,761

5,430,159
25,743
1,611,960
214,820
21,644
1,201,607
54,151
428,654
865,453
42,434

6,659,971
5,174
2,068,369
277,805
43,972
1, 588,978
37,280
213,006
857,757
43,373

359,605
272,031

LIABILITIES

Capital stock paid in
Surplus
_
Undivided profits
_
Reserved for taxes, interest, etc., accrued
National-bank circulation
Due to all banks
_
Certified checks and cashiers' checks
Individual deposits (including dividends unpaid).
United States deposits
Total deposits
_
Notes and bills rediscounted
Bills payable
Other liabilities.
Total.
1 $12,151,000 included in*loans and discounts.




* Includes lawful reserve.

8

Includes postal savings.

i

Resources and liabilities of all reporting banks on or about June SO, each five years, 1890 to 1925, inclusive
[Includes national, State (commercial), savings and private banks, and loan and trust companies]
[In thousands of dollars]
1925
1915
1920
1890
1910
1900
1905
1895
(8,188 banks) (9,818 banks) (10,382 banks) (16,410 banks) (23,095 banks) (27,062 banks) (30,139 banks) (28,841 banks)
RESOURCES

Loans and discounts (including rediscounts)
Overdrafts
Investments
Real estate owned 2 (including furniture andfixtures)Due from banks3
Checks and other cash items
.
Exchanges for clearing house
Cash on hand
.___
Other resources
_

8,971,258
56,040
3,987,911
380,885
1,981,958
105,567
267,856
994,136
172,596

12,459,428
62,381
4,723,370
574,232
2,393,008
163,782
456,687
1,423,809
193,624

15,722,440
36,233
5,881,932
793,405
3,233,943
69,629
307,246
1,457,702
301,600

31,208,142
109,186
11,387,525
1,000,976
5,833,241
607,868
849,910
1,076,378
1,005,882

33,883,733
50,259
15,400,113
1,736,585
6,774,392
954,177
1,226,960
951,286
1,079,532

6,350,080

Total-

585,781
154,892

5,625,192
32,495
2,498,381
274,156
1,272,775
75,558
159,190
746,746
101,332

7,609,544

10,785,825

16,918,207

22,450,321

27,804,130

53,079,108

62,057,037

971,654
442,735
141,740

1,080,277
541,047
158,354

1,026,010
647,108
233,814

1,463,166
1,053,621
385,913

1,879,944
1,547,917
413,360

2,162,841
1,732,918
639,777

126,324
469,401

178,816
600,544

1,172,474

445,456
1,904,361

4,073,580
30,578
4,573,559
15,028
7,028
72,012

4,924,923
13,167
5,538,634
9,698
12,251
90,467

7,241,684
98,872
8,513,030
4,239
12,633
83,688

11,353,141
75,298
13,332,800
5,591
21,574
210,086

675,633
2,225,381
319,713
14,984,540
54,541
17,584,175
27,118
126,327
195,847

722,704
2,783,312
229,493
4 18,969,901
48,964
22,031,670
59,452
166,763
288,005

2,702,639
2,410,346
840,998
61,718
688,178
3,708,302
514,862
4 37,315,123
175,788
41,714,075
1,499,262
1,785,598
1,376,294

3,169,711
3,173,334
1,007,439
60,078
648,494
4,370,909
698,861
4 46,765,942
147,220
51,982,932
327,899
597,377
1,089,773

6,350,080

7,609,544

10,785,825

16,918,207

22,450,321

27,804,130

53,079,108

62,057,037

!, 839,184
18,243
.,172,429
160,220
532,254
13,875
88,238
478,853
56,784

4,249,887
19,036
1,565,330
223,702
714,449
13,599

H3

W

i

LIABILITIES

Capital stock paid in
_
Surplus
Undivided profits
Reserved for taxes, interest, etc., accrued
National bank circulation
Due to all banks..
_
_
Certified checks and cashiers' checks
Individual deposits (including dividends unpaid).
United States deposits
_
Total deposits
_
_
Notes and bills rediscounted
_.._
Bills payable
Other liabilities
Total.
1

$12,151,000 overdrafts reported by national banks included in loans.




2

Includes banking house.

8 Includes lawful reserve.

1

Includes postal savings.

H3

W
cj

118

BEPOBT OF THE COMPTROLLER OF THE CURRENCY
MONEY IN THE UNITED STATES

The total stock of coin and other money in the United States on
June 30, 1927, aggregated $8,532,000,000, in comparison with a total
of $8,373,000,000 on June 30, 1926. Of the total stock in the current
year, $347,200,000, or 4.07 per cent, was coin and other money in the
Treasury as assets; $985,100,000, or 11.55 per cent, was held by
reporting banks; and $3,439,600,000, or 40.31 per cent, was held by
Federal reserve banks.and agents. The remainder, $3,760,100,000,
or 44.07 per cent was in general circulation.
The per capita money in general circulation was $32.13, compared
with $33.38 a year ago.
Statements showing the stock of money in the United States in
the years ended June 30,1914 to 1927; the classification of money in
circulation July 1, 1927; and imports and exports of merchandise,
gold, and silver in the calendar years 1914 to 1926 and the nine months
ended September 30, 1927, follows:
Stock of money in the United States, in the Treasury, in reporting banks, in Federal
reserve banks, and in general circulation, years ended June 80, 1914 to 1927 ',

Year ended
June 30

Coin and other Coin and other Held by or for
Coin and money in Treas- money in report- Federal reserve
banks and
other
ing banks *
ury as assets *
agents 3
money
in the
United
States
Amount Per Amount Per Amount Per
cent

1014
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926

1927

.

Millions Millions
336.3
3,738.3
345.4
3,989.4
298.2
4,482.9
268.4
5,408.0
360.3
6,741.0
584.2
7,518. 8
489.7
7,894. 5
461.2
8,096.0
402.5
8,177. 5
383.5
8,603. 7
356.6
8, 746. 5
362.0
8,221. 2
350.1
8,373.0
347.2
8,532. 0

9.00
8.66
6.65
4.96
5.34
7.77
6.20
5.70
4.92
4.46
4.08
4.40
4.18
4.07

cent

Millions
1,630. 0
1,447. 9
1,472.2
1,487. 3
882.7
981.3
1,047. 3
926.3
814.0
777.1
900.8
938.3
975.2
985.1

43.60
36.29
32.84
27.50
13.10
13.05
13.27
11.44
9.95
9.03
10.30
11.41
11.65
11.55

cent

Millions
386.2
592.7
1,280. 9
2,018.4
2,167. 3
2,021.3
2,795. 2
3,401. 0
3,490. 8
3,635.1
3,122. 7
3,188. 2
3,439. 6

9.68
13.22
23.69
29.94
28.83
25.60
34.52
41.59
40.57
41.56
37.99
38.08
40.31

In general circulation, exclusive of amounts held
by reporting banks and
Federal reserve banks
Amount

Per
cent

Millions
1,772.0
1,809.9
2,119. 8
2,371.4
3,479.6
3, 786. 0
4,336,2
3,913.3
3,560.0
3,952.3
3,854. 0
3,798. 2
3,859. 5
3, 760.1

47.40
45.37
47.29
43.85
51.62
50.35
54.93
48.34
43.54
45.94
44.06
46.20
46.09
44.07

Per
capita
$17.89
17.97
20.69
22.77
32.87
35.67
40.47
36.21
32.44
35.52
34.20
33.29
33.38
32.13

* Public money in national-bank depositories to the credit of the Treasurer of the United States not
included.
* Money in banks of island possessions not included.
3 Includes gold reserve held by banks against issues and gold or other funds deposited by banks with
agents to retire Federal reserve notes in circulation and own Federal reserve notes hold by Federal reserve
banks.
NOTE.—Population estimated at 107,155,000 in 1920,108,087,000 in 1921,109,743,000 in 1922,111,268,000 in
1923.. 112,686,000 in 1924, 114,104,000 in 1925- 115,614,000 in 1926, and 117,034,000 in 1927.




Circulation statement of United States money July 1, 1927

to

82

Kind of money

Gold coin and bullion
co Gold certificates
„
Standard silver dollars
Silver certificates
Treasury notes cf 1890
Subsidiary silver
United States notes Federal reserve notes
Federal reserve bank notes
National-bank notes
Total July 1,1927..
Comparative totals:
June 1,1927_
July 1, 1926?
Nov. 1,1920
Apr. 1, 1917
July 1,1914_
Jan. 1,1879

Stock of
money i

Total

Money held in the Treasury
Reserve
Amount
held in trust against
Held for
United
Federal
against gold
States
reserve
and silver notes (and
certificates Treasury banks and
agents
(and Treasury notes of
notes of 1890)
1890)

Money outside of the Treasury

All other
money

Total

Held by
Federal
reserve
banks and
agents l

Amount

'$4, 565,070,147 $3,650,974,055 $1,625,285,099 $155,420,721 $1,712,002,936 $158,265,299 $914,096, 092 $527, 635, 307| $386,460, 785
3(1,625,285,099)
1, 625,285,099
618, 203,910i 1, 007, 081,189
537,948,084
62,266, 733
13,121, 549!
475, 681,351
470,918,705
49,145,184
4,~762,~646
< (469,591,901)
93,801, 659j
469,591, 901
375, 790,242
< (1,326,804)
1,326,804
1,326,804
295,818, 732
5,347,024
5,347,024
290,471, 708
14, 738, 650
275, 733,058
346,681,016
3,235,483
343,445,533
51,245,380!
292, 200,153
3,235, 483
2,077,473,195
979,355
979,355 2,076,493,840
373,670,1981 1,702,823,642
4,854, 238
192,906
192,906
4, 661,332
55, 757|
4, 605,575
704,146,267
19,029,816
35,060, 515J
19,029, 816
685,116,451
650,055,936
8,531, 991, 679 > 4,155,439,990 2,096,203,804 155,420,721 1,712,002, € 6191,812, 529 6,472, 755,493 1, 727, 532, 925j 4, 745, 222,568
8,546, 745, 712
8,373, 660,229
8,326,338, 267
5,312,109, 272
3, 738, 288,871
1,007, 084, 483

« 4,157,958,128
fi 4, 207,918,206
5 2,406,801,772
5 2,942,998, 527
61, 843,452,323
5 212,420,402

2,082,395,385
2,139, 770,428
696,854,226
2,684,800,085
1,507,178,879
21, 602,640

Population
of continental
United
States
Per
capita (estimated)

In circulation

155,420, 721 1,722,946, 574 197,195,448 6, 471,182,969 1,685,211,481 4,785,971,488
154,188,886 1,717,348, 235 196, 610, 657 6, 305, 512,451 1,470,880, 3341 4, 834, 652,117
152,979,026 1,206,341,990 350,626,530 6, 616,390,721 987,962,989 5, 628,427,732
105,219,416 5,053,910,830
953,320,126 4,100,590,704
152,979,026
186, 273,444 3,402,015.427
3,402,015,427
150,000,000
90,817, 762
816, 266, 721
100,000,000
I 816,266,721

tel

o
o
40.58 116,943,000
40.97
41.85
52, 36
39. 54
34.35
16.92

116,824,000
115,523,000
107,491,000
103,716,000
99,027,000
48,231,000

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 outside of vaults of the Treasury, Federal reserve banks, and Federal reserve agents.
* 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.
5 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.
6
This total includes $19,693,297 of notes in process of redemption, $139,124,060 of gold deposited for redemption of Federal reserve notes, $7,437,122 deposited for redemption of
national-bank notes, $2,830 deposited for retirement of additional circulation (act of May 30, 1908), and $6,426,700 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 dollars
held in the Treasury for their redemption; United States notes are secured by a gold reserve of $155,420,721 held in the Treasury. This reserve fund may also be used for the
redemption 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 and a 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 and such 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,
including the gold redemption fund which must be deposited with the United States Treasurer, against Federal reserve notes in actual circulation. Lawful money has been
deposited with the 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 for the redemption of national-bank notes secured by Government bonds.




1

3
o
j

120

KEPORT OF THE COMPTROLLER OF THE CURRENCY

Imports and exports of merchandise, calendar years 1914 to 19186, inclusive, and from
January 1 to September SO, 1927
Imports of
merchandise
1914 . .
1916
1916
1917
1918
1919._
1920
1921
1922
1923
1924 . .
1926
1926
1927 (9 months)

Exports of
merchandise

Excess of
exports over
imports

$1,789,276,001 $3,113,624,050
1,778,696,696 3,664,670,847
2,391,635,335
5,482,641,101
2,952,465,966
6,226,255,654
3,031,304,721 6,149,241,951
3,904,364,932
7,920,425,990
5,278,481,490 8,228,016,307
2,509,147,570
4,485,031,356
3,112,746,833 3,831,777,469
3,792,065,963 4,167,493,080
3,609,962,579
4,590,983,845
4,226,589,263
4,909,847,511
4,430,888,000 1 4,808,660,000
1
3,154,555,000
3,509,674,000
45,962,080,337

Total, 13 years and 9 months

$1,324,348,049
1,776,074,162
3,091,005,766
3,273,789,699
3,117,937,230
4,016,061,058
2,949,634,817
1,975,883,786
719,030,636
375,427,117
981,021,266
683,268,248
377,772,000
1365,119,000
26,016,262,824

70,978,343,161

i Preliminary, subject to correction.

Gold and silver imports and exports in period indicated
GOLD

Imports

Exports

Excess of
exports over
imports

$67,387,741
451,964,590
686,990,234
662,454,374
62,042,748
76,634,046
417,068,273
691,248,297
275,169,786
322,716,812
319,720,918
128,273,172
213,604,000
192,957,000

1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1926
1926
1927 (9 months)
Total, 13 years and 9 months

$222,616,156
31,426,918
166,792,927
371,883,884
41,069,818
368,185,248
322,091,208
23,891,377
36,874,894
28,643,417
61,648,313
262,639,790
115, 708,000
57,637,000

$166,228,415

4,447,020,990

2,100,107,950

591,246,235

291,661,202

134,366,618

Excess of
imports over
exports

$420,528,672
630,197,307
180,570,490
20,972,930
94,"977,066
667,366,920
238,294,891
294,072,395
258,072,605
97,796,000
135,320,000
2,938,159,275

SILVER
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927 (9 months)

-.

Total, 13 years and 9 months.




$26,959,187
34,483,954
32,263,289
53,340,477
71,375,699
89,410,018
88,060,041
63,242,671
70,806,653
74,453, 530
73,944,902
64,595,418
69,596,000
40,766,000

$51,603, 060
53,598,884
70,595,037
84,130, 876
252,846,464
239,021,051
113,616, 224
51,575,399
62,807,286
72,468,789
109,891,033
99,127,585
92,258, 000
56,849,000

$25,643,873
19,114,930
38,331,748
30,790, 399
181,470,765
149,611,033
25,566,183

852, 297,839

1,410,388,688

579,742,229

$11,667,272
7,999,367
1,984,741
36,946,131
34,532,167
22,662,000
16,083,000
21,651,380

REPORT OF THE COMPTROLLER OF THE CURRENCY

121

BANKS I N THE DISTRICT OF COLUMBIA

On June 30, 1927, there were 65 banking associations in the District
of Columbia, 13 of which were national, 7 loan and trust companies,
23 savings banks, and 22 building and loan associations. The aggregate assets in the current year were $369,013,000, compared to
$351,438,000 on June 30, 1926.
The combined capital of these associations was $24,451,000, an
increase of $307,000 over the preceding year, and individual deposits
of $285,211,000 were greater by $16,546,000. . . . .
Classification of these institutions, with capital, individual deposits
and aggregate resources, follows:
Number
National
Loan and trust companies
Savings banks
Building and loan associations.
Total.

_.

_

_
* Amounts due to banks not included.

13
23
22
65

Capital

Individual
deposits 1

$10,527,000
11,400,000
2,524,000

$121,384,000
79,822,000
36,118,000
a 47,887,000

$166,663,000
106,694,000
41,827,000
53,829,000

24,451,000

285,211,000

369,013,000

Aggregate
assets

* Share payments mainly.

E A R N I N G S , E X P E N S E S , A N D DIVIDENDS OF B A N K S O T H E R T H A N
I N T H E DISTRICT OF COLUMBIA

NATIONAL

On June 30, 1927, there were 7 trust companies and 23 savings
banks in the District of Columbia, with combined capital of $13,924,000 and surplus of $9,956,000, compared with capital and surplus
reported by the same number of associations on June 30, 1926, of
$13,867,000 and $9,670,000, respectively. Dividends declared by
these banks in the current year were $1,443,000, or $106,000 more
than in the previous 12-month period.
The gross earnings totaled $8,841,000, an increase of $43,000, and
expenses paid were $6,220,000, or $266,000 more than last year.
Deducting from the gross earnings the amount of expenses paid
the associations showed net earnings in the period of $2,621,000,
excluding $140,000 recovered on assets previously charged off. Losses
and depreciation charged off in the year were $552,000, against a
total of $548,000 the year previous. The aggregate of net earnings and recoveries in the year, $2,761,000, less the losses and depreciation charged off, resulted in a net addition to profits of $2,209,000,
and showed a decrease in this item of $216,000 since the returns for
the fiscal year ended June 30, 1926.
The principal earnings received by these associations in 1927 were
from interest and discount on loans, $5,517,000, and interest, including dividends, on investments, $1,463,000. The major expense items
were salaries and wages ,$2,162,000, and interest paid on time deposits, $1,357,000.
Comparative statement showing earnings, expenses, and dividends
of these banks for the years ended June 30, 1926, and June 30, 1927,
follows.




122

REPORT OF THE COMPTBOLLER OF THE CURRENCY

Earnings, expenses and dividends of trust companies and savings banks in
the District of Columbia
[In thousands of dollars]
Six months ended Dec.
31, 1926

Six months ended June
30, 1927

23
7 trust
30
7 trust
com- savings total companies banks banks panies

Capital stock
. _
Total surplus fund
Dividends declared
Gross earnings:
Interest and discount on loans
Interest (including dividends) on
investments
.
Interest on balances with other
banks
_
- .
Domestic exchange and collection
charges
Foreign exchange department
Commissions and earnings from
insurance premiums and the
negotiation of real estate loans..
Trust department
Profits on securities sold
Other earnings
Total
Expenses paid:
Salaries and wages
Interest and discount on borrowed money
Interest on bank deposits
Interest on demand deposits
Interest on time deposits
Taxes
Other expenses
._
Total
Net earnings
Recoveries on charged-off assets:
Loans and discounts
.
Bonds, securities, etc
All other
Total
Losses and depreciation charged off:
On loans and discounts
On bonds, securities, etc
On banking house, furniture and
fixtures
On foreign exchange
Other losses
Total
Net addition to profits

11,400
8,350
592

23
savings
banks

total
banks

30

Year
ended
June
30,1927,
30
banks

Year
ended
•June
30, 1926,
30
banks

2,520
1,706
110

13,920
10,056
702

11,400
8,350
618

2,524
1,606
123

13,924
9,956
741

13,924
9,956
1,443

1,810

962

2,772

1,774

971

2,745

5, 517

6,918

584

211

795

495

173

668

1,463

0)

67

25

92

58

32

90

182

C
O

2
8

22
7

24
15

3
11

18
1

21
12

45
27

45
31

18
256
55
443

37

55
256
92
541

24
187
62
255

23
41
71

47
187
103
326

102
443
195
867

152
392

37
98

1,260

3,243

1,399

4,642

2,869

1,330

4,199

8,841

8,798

707

357

1,064

737

361

1,098

2,162

2,027

6
23
359
405
185
251

21
23
54
273
54
219

27
46
413
678
239
470

7
18
340
395
490
246

13
22
46
284
112
212

20
40
386
679
602
458

47
86
799
1,357
841
928

45

1,936

1,001

2,937

2,233

1,050

3,283

6,220

2,167
779
936
5,954

1,307

398

1,705

636

280

916

2,621

2,844

1
44
33

10
2
3

11
46
36

9
11
6

11
4
6

20
15
12

31
61
48

129

1,385

413

1,798

662

301
—

963

2,761

2,973

21
46

71
28

92
74

34
44

84
9

118
53

210
127

217
164

56
10
35

16

72
10
45

39
5
14

10
1
19

49
6
33

121
16
78

8
159

10

13,867
9,670
1,337

8

168

125

293

136

123

259

552

548

1,217

288

1,505

526

178

704

2,209

2,426

Included with interest and discount on loans. 4 Included with recoveries on bonds, securities, etc.
Included with other earnings.
* Included with other losses.
'Included with interest on time deposits.
1
2

BUILDING AND LOAN ASSOCIATIONS IN THE DISTRICT OF COLUMBIA

The total resources of the 22 building and loan associations operating in the District of Columbia, under the supervision of the Comptroller of the Currency, on June 30, 1927, were $53,829,000, and
exceeded by $5,256,000 the resources of the same number of associations on June 30 of last year.



123

REPORT OF THE COMPTROLLER OF THE CURRENCY

The loans showed an increase in the year of $4,159,000, or from
$46,781,000 to $50,940,000. Installment payments on shares also
increased from $42,794,000 to $47,887,000.
There were 15 of the associations operating on the permanent plan,
6 on the serial plan, and 1 on the terminating plan. One of the associations requires installment dues on payments of $2.50, 1 payments
of $2, and the remaining 20 payments of $1. On June 30, 1927,
these associations had a total membership of 61,243, as compared
with 60,087 members the preceding year. Borrowing and nonborrowing members in the current year were 16,539 and 44,704,
respectively.
The statement following discloses the number of associations,
aggregate loans, installments paid on shares, and total resources on
June 30 of each year 1909-1927. Summaries of the resources and
liabilities of the individual associations for the six months ended
June 30, 1927, together with consolidated statements of assets and
liabilities, and receipts and disbursements for the six months ended
December 31, 1926, and June 30, 1927, are published in the appendix
of this report.
Years

June 30—
1909
1910 1911
1912
1913
1914
1915
1916
1917 . .
1918
1919 ,
1920
1921
1922
1923 .
1924
1925
1926 1927

.

_.

Number
of associations

22
19
19
20
20
20
20
19
19
20
20
21
24
22
23
23
24
22
22

Loans

$13, 511, 587
14,415,832
14,965,220
16,004, 700
17,398, 010
18, 582,156
19,524, 065
20,186, 662
20,951, 089
21,567, 904
23,654,000
27,398,000
29, 520, 000
33,233,000
36,157,000
38,968, 000
42,482,000
46, 781, 000
50, 940, 000

Installments
on shares

$11,996,357
13,213,644
13,324,217
14, 529, 977
16,453,044
17,113,899
17,866,337
18,668,808
19,413, 266
20,252,005
22,463,000
25,373,000
27,593,000
30,506,000
32,858,000
35,452,000
38,653,000
42,794,000
47,887,000

Aggregate
resources

$14,393,927
15,250,731
16,017,405
17,100,293
18,438,294
19,029,260
20,655,614
21,611,007
22,264,005
23,215,027
25,699,000
29,322,000
31,683,000
34,879,000
37,589,000
40,467,000
43,977,000
48,573,000
53,829,000

B U I L D I N G A N D LOAN ASSOCIATIONS I N T H E U N I T E D STATES

Statistics obtained from Mr. H. F. Cellarius, secretary, United
States League of Local Building and Loan Associations, with headquarters at Cincinnati, Ohio, disclose that for the fiscal year ended
1926, the latest date for which complete information is available,
there were 12,626 building and loan associations in the United States,
having a membership of 10,665,705 and assets totaling $6,334,103,807.
These figures show a net increase in membership for the year of
778,708, and an increase in assets of $824,927,653, as compared
with the increase in the previous year of $743,238,957. In the
12~month period $1,945,000,000 was loaned on mortgage security,
and it is noted the total investment of the building and loan associations in mortgage loans in the various States aggregated $5,852,689,591, or 92.4 per cent of the assets as compared with 92.3 per cent
for the preceding year.



124

REPORT OF THE COMPTROLLER OF THE CURRENCY

Pennsylvania again made the largest increase last year in aggregate
assets, gaining $140,000,000, with New Jersey second, $114,528,201.
Other States with increases over $10,000,000 were: Ohio, $80,811,032;
Massachusetts, $56,238,224; California, $49,449,097; New York,
$39,617,343; Illinois, $38,105,554; Wisconsin, $32,734,104; Indiana,
$29,424,113; Maryland, $28,000,000; Louisiana, $24,262,576; Missouri, $22,454,167; Texas, $18,832,713; Michigan, $16,585,652; Kansas, $14,047,462; Washington, $12,855,563; Nebraska, $11,692,571;
Kentucky, $10,511,475; and Oklahoma, $10,281,418.
The table following shows by States the number of associations,
total membership, and total assets, etc., for the fiscal year ended
in 1926:
Number
of associations

States
Pennsylvania
Ohio
New Jersey
Massachusetts
Illinois
New York
Indiana 1
Maryland
CaliforniaWisconsin
Louisiana
Nebraska
Missouri
Michigan
__
Kansas..
Oklahoma
Washington
North Carolina
Kentucky
Texas
District of Columbia.
Virginia
Iowa.
Florida
Colorado
Arkansas
Utah___
West Virginia
Minnesota
South Carolina
Rhode Island
Connecticut
Oregon
Maine 1
Alabama
Montana.
Mississippi
New Hampshire
Delaware.
Wyoming i__
North Dakota
Tennessee
South Dakota
New Mexico1
Idaho
Vermont
Arizona 1
Georgia
Nevada
Total

Total
membership

Total assets

Increase in
assets

4,460 1,800,000 $1,130,000,000 $140,000,000
841 2,147, 275
928,381, 733
80,811,032
1,473
1,084,381
760,067, 751 114,528, 201
220
466,492
425, 511, 319 56,238, 224
' 881
38,105, 554
840, 000
355, 509,301
309
39, 617,343
504,008
297, 707,160
399
29,424,113
382, 123
247,903, 736
1,210
28,000, 000
330, 000
200,000,000
176
49,449, 097
223,440
190,106, 988
171
32, 734,104
229,165
182,382,373
100
24, 262, 576
165, 332
154,186, 635
83
153,128,475
218, 807
11, 692, 571
243
215, 000
139,461,899
22, 454,167
83
192, 070
112,887,929
16, 585, 652
153
189, 393
107,315, 298
14,047,462
90
167,410
103, 343,185
10, 281,418
72
249, 338
89, 001,163
12, 855, 563
240
96, 590
85, 715, 009
4, 526,463
147
133,400
74,704,133
10, 511,475
138
124, 951
70, 804, 572
18,832, 713
22
59,299
50, 729, 274
4, 709, 274
79
51, 500
44, 557,196
5, 057, 196
74
71,800
40, 771, 567
3,391,042
73
27,000
39, 357, 725
5, 741,175
64
85,144
35,186, 058
4, 727,458
71
53,064
32, 029, 637
4, 478, 373
24
96,284
30,864,124
5, 405, 388
60
54, 500
28, 704, 386
3, 704, 386
83
69, 618
28, 643, 208
3, 430, 546
152
26,800
22, 782, 000
2, 782, 000
7
31,819
19, 538, 506
2, 463, 183
38
35, 896
18, 290,897
2, 092, 943
42
38, 200
18, 280, 225
3,408, 902
38
26,171
17,458, 473
827,458
20
20,000
15, 000, 000
6, 000, 000
31
37, 500
13, 738, 790
629, 328
35
18,600
13, 015,838
4, 515, 838
28
9, 223,974
15,115
1, 078, 490
41
8, 844, 308
1, 432, 056
16, 250
20
8, 000, 000
1, 000, 000
14,000
18
15,300
7, 788,410
822, 855
24
1, 504,151
11,275
6, 716, 217
26
7,015
5,000,427
18
6,500
3, 250, 000
300, 000
12
4,250
2, 335, 265
335, 265
3,805
2, 236, 747
438, 708
3,925
1, 681, 526
2 690,444
1, 500, 000
5,000
250, 000
2
900
460, 370
85, 370

i

12,626 I 10,665,705
1




Estimated.

6, 334,103, 807
2

Decrease.

824, 927, 653

Increase in
membership
100,000
48,542
76,289
56,112
56,287
32,244
67,052
28,226
3,184
16,707
32,450
14,187
17,121
21,200
31,898
4,583
8,200
41,389
2,060
4,500
1,635
12,961
6,778
45,284
3,189
1,800
2,571
322
4,000
384

2

600
3,200
342
1,750
1,750
1,340
2,500
2 935
200
400
272
1,605
700
100

778, 708

EEPORT OF THE COMPTROLLER OF THE CURRENCY

125

MORTGAGE LOAN INVESTMENTS OF BUILDING ASSOCIATIONS

In the comparative table following is shown, by States, the amount
of mortgage loans held by building and loan associations in 1925 and
1926, together with the amount of increase of such mortgage loans in
1926 over the previous year, also the percentage of mortgage loans
outstanding to total assets:
Total mortgage loans
outstanding
1925
Pennsylvania
Ohio
New Jersey
Massachusetts
„
Illinois
New York
Indiana
Wisconsin
Nebraska
California
Louisiana
„
Missouri
*.
Michigan
Kansas
Oklahoma
Washington
North Carolina
Kentucky
District of Columbia
Iowa
Florida...
Utah
Minnesota
Khode Island
Connecticut
Oregon
Maine
Montana
New Hampshire
Delaware
North D a k o t a . . .
Tennessee
South Dakota
Vermont
_
Arizona
Other States (estimated).
Total

1926

Increase of Per cent
mortgage
mortgage
loans out- loans to
standing over
previous year
1926

$910,177,581 $1,040, 000,000 $129,822,419
766,266,091
77,822,057
844,078,148
614,083,318
721,847,723 107, 764,405
348,503,053
401,967,888
53,464,835
301,325,212
34,739,693
336,064,905
240,359,492
277, 847, 924 37,488,432
199,982,657
224,036,000
24,053,343
144,999,013
177,032,179
32,033,166
126,752,579
137,580,984
10,828,405
130,883,648
176,852,910
45,969, 262
120,944,076
143,786,829
22,842,753
107, 651,544
128,916,610
21,265,066
100,241,951
11,605, 092
81,255,584
91,860, 734
10, 605,150
85,612,070
94,160,980
8, 548,910
62,934,356
73,675,854
10, 741,498
73,014,392
77,696,300
4, 681,908
62,908,000
73,214,108
10,306,108
44,321,000
48,133,012
3, 812, 012
35,377,861
38,387,940
3,010,079
29,650, 800
34,706, 731
5,055,931
21,840,942
27,073,364
5,232, 422
21,995, 587
25,334,429
3,338, 842
16, 223, 294
18,455,498
2,232,204
15, 252,627
17,076,062
1,823,435
12,647, 854
15,252, 627
2, 604, 773
16, 747, 072
1,134,377
15, 612, 695
12,003,439
546, 439
11,457, 000
1, 024, 593
7, 788, 965
8,813, 558
1,239,391
6,486,716
7, 726,107
855,409
6, 014,163
6, 869,572
4,989, 527
6,261,979
1,272,452
4,084, 000
4,125,176
41,176
1,690, 984
2,145, 792
454,808
2,060,659
1,389,409
1671,250
361,235,440
441,325, 797
80,090,357

92.0
90.9
94.9
94.4
94.5
93.3
90.4
97.0
89.8
93.3
93.2
92.4
88.8
85.6
91.1
81.6
90.6
98.0
94.9
94.1
88.2
87.7
88.4
94.5
93.4
83.4
96.0
87.4
95.5
87.5
88.2
93.2
82.5
96.0
82.1
92.4

767, 679,952

92.4

5,085,009,639 I 5,852,689,591

i Decrease.

FAILURES OF BUILDING AND LOAN ASSOCIATIONS, 19 2 0 - 1 9 2 6

During the year 1926, 12 building and loan associations were
reported by the various State departments as having been placed in
liquidation, 9 of which were in Pennsylvania, 1 in Maine, 1 in Michigan and 1 in North Carolina. Of the total number of these failures
7 were due to defalcations, 1 was a promoted company which was
otherwise mismanaged, 3 were due to bad loans which had been
made, and 1 small association was placed in liquidation because its
assets had depreciated and its earning capacity impaired. The loss
due to failures for the year 1926 amounted to $380,725.




126

REPORT OF THE COMPTROLLER OF THE CURRENCY

The following is a summary of the building and loan association
failures and losses for the years 1920 to 1926, inclusive, together with
a statement of the total number and total resources of these associations for each year and annual per cent of loss to total resources:
Total
number of Total resources Number
associafailed
tions
8,633 $2, 619, 914, 971
9,265 2,890, 764, 621
10,009 3,342, 530,953
10,744 3,942,939,880
11,844 4, 765, 937,197
12,403 5, 609,176,154
12, 626 6, 334,103,807

1920
1921
1922
1923
1924
1926
1926

2
6
4
9
18
26
12

Loss

$506
91, 547
158, 674
132, 612
398,245
500,000
380,725

Per cent
of loss
to total
resources
0.00002
.00320
.00470
.00340
. 00840
.00900
.00600

M O N E T A R Y STOCKS I N T H E P R I N C I P A L C O U N T R I E S OF T H E WORLD

Figures furnished by the Mint Bureau for the calendar year 1926,
with respect to the monetary stock of the principal countries of the
world, show the total of gold aggregated $9,621,645,000, of which
$9,581,301,000 was in banks and public treasuries, and the balance,
$40,344,000, was in circulation. Silver stock amounted to $4,230,662,000. According to revised figures for the calendar year ended
1925 the gold stock was $9,277,662,000, and silver, $4,249,345,000.
The figures herein contained for the total gold stock at the end of
the calendar year 1926, therefore, showed an increase of $343,983,000
over 1925, while the silver stock was reduced $18,683,000.
The statement following shows the monetary stock of the principal
countries of the world at the end of the calendar year 1926:




The following compilation has been made from such data as available—avowedly incomplete. The amount of gold and silver in circulation in many countries is not obtainable, and in some countries that held by private banks can not be given.
For the United States thefiguresgiven cover all domestic gold and silver coin, but only such bullion and foreign coins as owned by the Government and Federal reserve banks.

Monetary stock of principal countries of the world, end of calendar year 1926
[Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)]
Gold stock

Monetary unit
Country

North America:
United States
Canada
Mexico 3 British Honduras 3
Costa Rica
Cuba
-.
_
Dominican 3Republic.. .
Guatemala
Haiti
Honduras8
Newfoundland 3
Nicaragua
Panama
Salvador
- _.
Virgin Islands
British West Indies—
Barbados 3
Jamaica
Trinidad . . . . . .
Dutch West Indies
French West IndiesGuadeloupe8
Martinique
South America:
Argentina. _
Bolivia
Brazil 8
Chile -.
C olombia
Ecuador i°._
Footnotes at end of table

Monetary
standard

Metallic

Name

United stock un- In banks In cirStates classified and public culaequivatreasuries tion
lent

Total

Paper circulation in
monetary Population
unit of
issuing
country

Silver
stock

Per capita
Unclassified
stock

o
Gold

Silver

$39. 59
21.96
1.17
2.00

$7.37
2.96
.54
4.33
.68
2.49
.31
.23

Paper

a

Golddo
do
do
do

-..do—.
..-do
do
do
...do
do
do
do

_do_. .
do

Dollar

$1.00
1.00
do
.4985
Peso
1.00
Dollar
.25
Colon
Peso ------ 1.00
1.00
Dollar
1.00
Quetzal
.20
Gourde
.50
Lempira
1.00
Dollar
1.00
Cordoba
1.00
Balboa
.50
Colon.193
Franc

...do.- . Dollar
Pound
-do
Dollar
do
Guilder
—do
Franc
do
do
.do
Peso ..
do
Boliviano
.do
Milreis
—do
Peso
.do .
do
...do
Sucre




$1,101

4,773 $19, 014
135
208
150
20
1,000

.9648
.3893
.5462
.1217
.9733
.4867

322
5, 242
84

10

8
568

7

1. 0138
4. 8665
1.0138
.402
.193
.193

$4, 502,429
202, 633
16, 683
90

$4, 502,429
2
202, 633
16,683
90

10

2

23, 787
135
208
150
20
1,000
332
5,242
86

$838, 260
27,345
7,783
195
338
8,413
278
500
500
2,300
315
584
66

2,500

113, 727
9,227
14, 235
45
498
3,369
897
2,185
2,045
650
263
690
446
1,650
25

$5,456, 965
247, 765
3,220
653
20, 614
3
317, 376
i
1,346
25,339
14,000
630
8
185
6,710

IB, 907

41
790
5,306
205

940
238
5,275
2,081

73

38,810
32,000

230
240

1, 319, 798
37, 611
2,539,304
371, 788
51, 261
16,000

9,839
2,820
33,737
3,905
6,760
2,000

1,826
1,500

$0.08

7.06
.15
.09
.07
3.77
.74
3.17
3.44

435,880
8,554
56,323
12,129
22, 051
6,000

3 17
1,220
9,517
2,000

.77
8.68
.45
1.31

$47.98
26.85
.22
14.51
41.39
94.20
1.50
11.59
6.84
.97
.69
9.72

2.64
.26
.92
13.57
1.23

6.02
.27
13.49
12.53

1.30

.32

168. 74
133. 33

o

9.64
100.00

.04
3.42

156
858
391
166

299

299

18
568

386
435,880
8,554
56,323
10,303
22,051
4,500

1

1.61
44.31
3.03
1.67
3.11
3.26
3.00

.31
1.41
1.00

134.14
13.33
75.29
95.21
7.58
8.00

d
3

6

Monetary stock of principal countries of the world, end of calendar year 1926—Continued
[Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)]
Monetary unit
Country

Monetary
standard

Name

South America—Continued.
Guiana—
British
Gold.... Dollar
$1.0138
do
Guilder
.402
Dutch 3
.193
Franc
French
_ .do .
.9648
Paraguay
___do
Peso...
Pound
4.8665
...do
PeruL..
1.0342
Uruguay. _ _
-do . . Peso
Venezuela..
„
. . . d o . . . . Bolivar... . .193
Europe:
Austria"
Schilling
...do
.1407
2 $492
Franc
.193
3 17,469
Belgium"
___do
Bulgaria
__ —do
Lev
.193
Czechoslovakia
Krone
(13)
.2026
Danzig
Gold.... Gulden..
.195
"KYrvpfl
do
268
Denmark
Mark
.00268
Estonia
...do
Finland
...do
do
.0252
France
_
...do
Franc
.193
do
Reichsmark. .2382
Germany
Pound
4.8665
Gibraltar 3_
...do
Great Britain and Irish ...do
do
4.8665 152,102
Free State.
Greece
__ ...do
Drachma
.193
Hungary
__ — d o . . . . Pengo
.1749
Iceland
_.. ...do
Krone
.268
Lira.
.193
Italy"
_
...do
Lat
.193
Latvia
...do
Lithuania
...do
Litas
.10
Malta
...do
Pound
4.8665
219"
Guilder
.402
Netherlands
...do.
Krone . . .
.268
Norway _
...do
Zlotz
.193
Poland
. . . —do
do
1.0805
Escudo
Portugal n
do
3,174
.193
Leu
Rumania
91,143
Russia *•
-.do
. Chervonetz _ 5.1455
Peseta
.193
Spain
—do




Gold stock

Metallic
United stock un- In banks In cirStates classified and public culaequivatreasuries
tion
lent

Total

$91
94
2,123
21,490
60,423
»• 15,000

$91
94
2,123
21,490
60,423
15,000

7,388
86,214
8,464
8,410
1
56,007
172
8,249
711,106
395,675

7,388
86,214
8,464
8,410
1
56,007
172
8,250
711,106
395,675

$1

751,868

751,868

" 10,059
ii 29,526
603
220,732
4,559
102

10,059
29,526
603
220,732
4,559
102

166,161
45,524
26, 677
9,267
27,787
84, 597
500,098

166,161
45, 524
26,677
9,267
27, 787
84, 597
500, 098

Silver
stock

Paper circulation in
monetary Population
unit of
Unclasissuing
sified
country
stock

$1,608
3,020
10,760
102,661
6,104
67,611
62,500

298
108
26
1,000
6,000
1,632
2,562

947,321
9,937,859
3,480,616
3,415
8,202, 594
1,777
35,716
1,960
385,961
4,041
3 11 3,354,357
1,345,715
»22
65,760 52,907,329
5,092,232
151,006
i<160
444,697
335,810

6,536
7,744
5,034
14,051
400
3,386
1,200
3,500
39,210
62,475
18
48,222

$203
303
194
3 3,304
10 9,000

965
3,239

5,715,676
470,870
7,271
20,312 20,133,115
34,875
442
86, 792
1,350
800
884,776
48,037
337,200
6,673
936,923
10, 593
1, 835, 601
1,170
20, 950, 547
131, 256
130,295 4,339,187

6,500
8,275
96
39,657
1,845
2,203
184
7,298
2,732
28,478
6,033
16, 750
138, 781
21, 763

Per capita

Gold

Silver

$0.69
2.81
$0.89
7.49
3.61
2.12
3.58
37.02 ~"2.~02~
5.85
3.61
$0.07
2.25

1.13
11.13
1.68
.59
16.54
.14
2.36
18.13
6.33

3.15

1.19

.19
.65

.67
.12
4.87
1.19
.01
.01
1.67
2.42

15.59

6.96

1.54
3.56
6 28
5.56
2.47
.04

.15
.39

22.76
16.66
.93
1.53
1.69
.61
22.98

.51
.24
.61
6.58
2.44
.37
.19
6.98

Paper

$5.39
27.96
413.85
192.66
1.02
41.42
24.39
144.93
1,283.29
691.42
683.77
89.29
114.01
2,795.29
384.49
1,349.33
81.51
8.88
9.22
879.33
56.90
75.74
507.68
18.90
39.39
4.34
121.30
123.42
32.89
304.26
1,250.77
.94
199.38

Sweden
...do
...do
Switzerland n
...do
Yugoslavia n
Asia:
._-do_.__
British North Borneo
_ do
Ceylon
Silver
China17
- Cyprus Island
Gold....
Federated Malay States.. ..do
India, British
do
Indo-China, French
Silver. __
Japan, including Chosen, Gold
Taiwan, Kwantung.
Netherlands East Indies. ...do. . .
Palestine
_
do
Persia 3
Silver. _.
Philippine Islands
GoldSarawak
„
do
Siam
do
do
Straits Settlements
do
Syria
Africa:
Abyssinia
Silver . .
Algeria
Gold
Belgian Congo
.
do
Dahornei
do
do
Egypt 3 _ .
Eritrea
do
French Equatorial Africa3 do
Gambia
do
do
Gold Coast
Guinea, French
_.
do
do
Ivory Coast
K e n y a C o l o n y and . . . d o
Uganda.8
Madagascar
„. do_.
. . do . .
Morocco
Nigeria
do
Nyasaland
...do
Portuguese East Africa. _. ...do
do
Portuguese West Africa
Reunion Island 10
...do
Rhodesia, Northern 3
, do
Rhodesia, Southern
. . do
Senegal.
do
Sierre Leone
...doSomaliland:
British 3
do
French .
do
Italian 3
.._do

Footnotes at end of table.




Krona
FrancDinar

.268
.193
.193

Dollar
Rupee
Dollar.
Pound
Dollar
Rupee
Piaster
Yen

.5678
.365

60,385
76,773
16, 620

60,385
76, 773
16, 620

15

1,521

15

(18)

4.8665
.5678
.365

43,341
3,380

525,077
873, 941
5,811,843

6,036
3,918
12,492

13,689
144,734
711
126
1, 682,393
3 76,629
212,231

2,421
62,745
423,872
461
7,154
1,811,840
123, 720
1,715,714

258
4,862
436,000
317
1,325
247,003
21,973
77/817

352,987
1,000
52,000
121,189
156
126,271
163,420
9,775

49,351
700
9,500
11,142

500
1,612,301
19 93,766
59,106
27, 813

8,000
5,806
15,000
1,000
13,886
450
3,124
210
2,299
2,020
1,656
2,529

292

292

81 469

81,469

.4985

561,810

561,810

Guilder
Pound
Kran
Peso
Dollar
Tical
Dollar
Pound

.402
4.9431

80,067

80,067

3,059

3,059

161,403
222
32, 726
19,021

187

44,177
12,825

Thalari
Franc
do
do
Pound
Lire
Franc
Pound
do
Franc
do
Shilling

(18)

(18)

(18)

.50
.5678
.3709
.5678
3.860

-.-

.193
.193
.193
4.9431
.193
.193
4. 8665
4. 8665
.193
.193
_. .2433

Franc
.193
do
.193
Pound
_ . 4. 8665
4. 8665
do1. 0805
Escudodo
1 0805
Franc...
.193
Pound
4. 8665
do
4. 8665
Franc. ..
.193
Pound
4. 8665
Rupee
Franc. _
Rupee

18,304

365
.193
.365

187
15,923

3 340
16,695
17,455

17, 455

27, 513
1 692

6,799
2,001

386
246
195

386
49
146

295
341

1
1,930
3,437
1,445

403,824
415,782
224

202

196

21 104,897
112, 523
33,000
27

112

401,833
150

1,176
3,120
4,000
174
931
808
1,225
1,541

329
44
1,863

300
1,558
2,000

344
65
1,000

1,900
51
2,020

51
2,020

28,000
153
1,478
7,121
113, 802
1,683

9,618
935
2,140

3,382
4,411

.25

10.00
19.59
1.33

.92
.33
.83
7.09
1.62

11.06
.27

86.99
223.05
465.24

2.81
.33
2.24
.09
1.54
3.49
2.71

9. 38
12.90
.97
1.45
5.39
7.33
5.63
22.04

.27
.20

7.15
1.43
5.47
10.87
.26
13.12
174. 78
4.57

3.27
.32
3.44
1.71
4 59
13.71

7.44

.62
277. 69
6.25
59.11
2.00

.42
2.87
1.25

1.98
3.76
'

2.69
.45

.09
.25
.11

.43
.17
1.23

119.40
94.26
.01

.21

33.62
28.13
189. 65
.03

.07

328.02
.10

.95
.67
1.86

.87
23.97
2.00

10.92
.05
2.50

8.96
.73
.64
3.52
68.71
.66

Monetary stock of principal countries of the worlds end of calendar year 1926—Continued

CO
O

[Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)]

Monetary unit
Country

Monetary
standard

Africa—Continued
Sudan, Anglo-Egyptian__ Gold.. .
Tanganyika..
do
Tunis 3
do
Union of South Africa
do .
Zanzibar
do
Oceania:
do
Australia . . .
New Zealand
do
Fiji Islands
do

Society Islands
Total
. .

do—

Name

Pound
Shilling

Franc
Pound
Rupee
Pound
do
do

Franc

Gold stock

Metallic
United stock un- In banks In cirStates classified and public culaequivation
treasuries
lent

.

_ $4.8665

stock

$124

$124

.2433
.193
4. 8665
365
4. 8665
4. 8665
4. 8665
.193

Silver

Total

42,093 $17, 786
$136,797
38,007

$8,904
5,179

59,879

15,884
692

106,976

356
496,848

106,976

356

9, 581, 301

40, 344

1
Includes gold and silver certificates (representing coin and bullion held in trust in
the Treasury) redeemable on demand.
2
Including some silver.
3
Last year's figures or figures of previous years.
4
United States Government and bank notes.
6
Gold standard established Apr. 3, 1926.
6
Government notes only.
7
United States gold coin.
8
On June 30,1926.
9
New monetary unit established Sept. 17, 1925.
10
Estimated.

9, 621, 645

3

774

4, 230,662

Per capita

Paper circulation in
monetary
unit of
issuing
country

Population

. $39
6,994
239,654
10,303
3,037

3,400
7,200
2,094
7,294
197

50,131
3 6,948
367
20, 640

5,874
1,370
164
28

$23 28
27^74

1, 715,404

.29

UnclasGold
sified
stock

Silver

$0.04

$2.62
.71

8.21

Paper

2.17
3.51

18.21
2.17

4.72

5.61

$0.01
.97
114.40
1.41
15.41
8.53
5.07
2.23
737.14

2.47

11
12
13
14
15

Stock in national bank.
Including minor coin.
Monetary standard not established.
Exclusive of Spanish bank notes.
Stock in Bank of Italy, sole bank of issue since July 1,1926.
« On Jan. 1,1927.
17
Incomplete.
18
Fluctuates with the price of silver.
19
On Nov. 30,1926.
20
Union of South Africa coin.
21
In addition to this, there circulates about £3,000 Union of South Africa notes.

NOTE.—Figures given represent each country's stock at the end of the year, except when otherwise indicated. Population figures are from the Statistical Abstract of the United
States, 1925. Blanks indicate no figures available, rather than no stock. Gold held abroad as follows, not included in the above figures (presumably reported by the country having
actual possession): Canada, $27,962,178; Chile, $56,591,470; Czechoslovakia, $18,809,484 in gold and $1,617,862 in silver; Estonia, $2,563,516; Egypt, $142,307; France, $359,813,935;
Germany, $40,560,696; Greece, $4,825,000; Japan, $114,655,000; Lithuania, $3,034,600; Rumania, $82,630,958; Switzerland, $14,276,596; Straits Settlements, $41,637; Union of South
Africa, $2,538,279; Jugoslavia, $11,316,748.




o

3

9

REPORT OF THE COMPTROLLER OF THE CURRENCY

131

FEDERAL LAND BANKS

The resources of the 12 Federal land banks September 30, 1927,
aggregated $1,217,970,000, which was an increase of $79,428,000 over
the resources reported on September 30, 1926.
Net mortgage loans, the principal asset of these associations,
amounted to $1,143,130,000, and showed an increase in the year of
$85,913,000. United States Government bonds and securities held,
$19,553,000, were reduced in the year $14,801,000, while cash on hand
and in banks increased from $10,372,000 to $17,044,000.
The capital stock of these associations, $61,238,000, was greater by
$4,724,000 than this item for the previous year, and $59,834,000 of
the capital stock in the current year was subscribed by national farm
loan associations. The legal reserve was reported amounting to
$9,911,000, surplus, reserves, etc., $331,000 and undivided profits
$4,169,000. The combined capital, reserves, surplus, and profits
aggregated $75,649,000, compared with $69,381,000 a year ago.
Statement of the assets and liabilities of these banks September 30,
1927, follows:
Consolidated statement of condition of the 12 Federal land banks at the close of
business September 30, 1927

Assets:
Net mortgage loans
$1, 143, 129, 629. 57
Interest accrued but not yet due on mortgage loans
20, 941, 080. 30
United States Government bonds and securities
19, 553. 400. 20
Interest accrued but not yet due on bonds and securities
196, 488. 84
Other interest accrued but not yet due
32, 821. 38
Cash on hand and in banks
17, 044, 325. 44
Notes receivable, acceptances, etc
3, 105, 816. 32
Accounts receivable
2,408,352. 89
Installments matured (in process of collection)
1, 350, 467. 16
Banking house
2, 569, 875. 61
Furniture and fixtures
236, 730. 63
Sheriffs' certificates, judgments, etc. (subject to redemption)
6,524, 128. 66
Other assets1
877,245.84
Total assets
Liabilities:
Farm loan bonds outstanding
Interest accrued but not yet due on farm-loan bonds-Notes payable
Accounts payable
Other interest accrued but not yet due
Due borrowers on uncompleted loans
Amortization installments paid in advance
Farm-loan bond coupons outstanding (not presented).
Dividends declared but unpaid
Other liabilities
.....
Total liabilities




1, 217, 970, 362. 84
1, 110, 749, 620. 00
16, 408, 709. 11
681, 404. 85
4, 348, 204. 94
22, 505. 99
514, 606. 98
1, 661, 053. 20
926, 162. 59
1, 373, 744. 91
5,635,036.60
1,142,321,049. 17

132

REPOBT OF THE COMPTROLLER OF THE CURRENCY

Net worth:
Capital stock United States Government
$710, 651. 00
National farm-loan associations
59, 834, 070. 00
Borrowers through agents
692, 875. 00
Individual subscribers
115. 00
Total capital stock
Reserve (legal)
Surplus, reserves, etc
Undivided profits

61, 237, 711. 00
9,911,400.00
330, 905. 88
4, 169, 296. 79

Total liabilities and net worth

_
'

Memorandum:
Total net earnings to Sept. 30, 1927
Less real estate acquired, charged off1
Net earnings available for distribution
Distribution of net earnings:
Dividends paid
$20, 089, 790. 32
Carried to suspense account
1, 757, 965. 26
Banking house charged off
192, 903. 15
Carried
Carried
Carried
Carried

to
to
to
to

surplus, reserve account
other reserve, etc
reserve (legal)
undivided profits

Balance now carried
Capital stock originally subscribed by United States Government
Amount of Government stock retired to date
Capital stock held by United States Government

$75, 649, 313. 67
1,217, 970, 362. 84
51, 013, 934. 60
14, 655, 286. 34
36, 358, 648. 26

22, 040, 658. 73
214, 290. 41
23, 002. 33
9,911,400. 00
4, 169, 296. 79
36, 358, 648. 26
8, 892, 130. 00
8, 181, 479. 00
710, 651. 00

JOINT-STOCK LAND BANKS

Resources of the 83 joint-stock land banks on September 30, 1927,
aggregated $653,318,000, in comparison with resources of $671,926,000 on September 30, 1926.
Mortgage loans were decreased from $614,639,000 to $609,535,000,
and interest accrued but not due on mortgage loans showed a reduction of $176,000; United States Government bonds and securities
were $11,994,000 less, and cash on hand and in banks, $9,453,000,
showed a reduction of $4,824,000.
The paid in capital stock was $40,856,000, which shows a decrease
in the year of $3,868,000, while paid in and earned surplus, $3,681,000,
was greater by $135,000. Legal reserve amounted to $4,561,000,
other net worth accounts $1,358,000, and undivided profits $2,375,000.
The total net worth of these associations was $52,832,000, compared
to $56,668,000 on September 30, 1926.
i AU real estate acquired through foreclosure or by deed charged ofl immediately upon acquisition.




REPOBT OF THE COMPTROLLER OF THE CURRENCY

133

Statement of the assets and liabilities of these banks, follows;
Consolidated statement of condition of the 88 joint-stock land banks at close of business
September 30, 1927

Assets.
Net mortgage loans
„
$609, 534, 665. 37
Interest accrued but not yet due on mortgage loans
11, 018, 312. 79
United States Government bonds and securities
6, 212, 476. 58
Interest accrued but not yet due on bonds and securities.
74, 436. 17
Cash on hand and in banks
9, 453, 121. 07
Notes receivable, acceptances, etc
764, 286. 77
Accounts receivable
556, 845. 20
Installments matured (in process of collection)
1, 827, 365. 45
Banking houses
157, 633. 34
Furniture and
fixtures
148, 289. 69
Real estate sales contracts, purchase mortgages, etc
2, 067, 422. 53
Sheriffs' certificates, judgments, etc. (subject to redemption)
3,494,233.82
Real estate
5, 647, 637. 91
Securities owned on repurchase agreement
1, 451, 014. 02
Other assets
__
910, 186. 38
Total assets

653, 317, 927. 59

Farm-loan bonds outstanding
.
Interest accrued but not yet due on farm-loan bonds
Notes payable
»
Accounts payable
Other interest accrued but not yet due
Due borrowers on uncompleted loans
Amortization installments paid in advance
Farm-loan bond coupons outstanding (not presented)
Dividends declared but unpaid
Securities sold on repurchase agreement
Other liabilities.
Total liabilities
Net worth:
Capital stock paid in
Surplus paid in
.
Surplus earned
Reserve (legal)
Other net worth accounts.
Undivided profits

579, 073, 500. 00
9, 493, 613. 73
4, 905, 526. 28
358, 529. 85
21, 206. 36
781, 861. 50
901, 247. 58
1, 067, 478. 03
126, 391. 05
3, 237, 721. 50
518,961. 53
600,486,037.41

„

$40, 855, 510.
1, 842, 334.
1, 839, U-1.
4, 561, 4S4.
1, 358, 488.
„
2, 374, 910,

24
75
71
32
22
94

Total liabilities and net worth

52, 831, 890. 18
653, 317, 927. 59

FEDERAL INTERMEDIATE CREDIT BANKS

On September 30, 1927, the aggregate resources of the 12 Federal
intermediate credit banks were $110,293,000, compared with resources
the year previous of $123,634,000.
Direct loans were reduced in the year from $35,951,000 to $17,733,000, while rediscounts increased from $42,539,000 to $45,145,000.
Capital stock callable from United States Treasury, $35,000,000, was
reduced $1,000,000 in the 12-month period. Cash on hand and in
banks, $4,383,000, showed an increase of $775,000.
The subscribed capital stock of these banks was $60,000,000, the
same as last year, while surplus, undivided profits, and other reserves
showed reductions. Debentures outstanding were $45,050,000 as
against $55,240,000 last year, and notes and bills payable, $250,000,



134

REPORT OF THE COMPTROLLER OF THE CURRENCY

showed a marked decrease. Notes and bills rediscounted also
decreased in the year $110,000.
The statement following is a consolidated return of the resources
and liabilities of these banks:
Consolidated statement of condition of the 12 Federal intermediate credit banks as
of the close of business September 30, 1927

Assets:
Direct loans
$17, 733, 408. 53
Rediscounts
45, 145, 183. 70
Accrued interest on loans and rediscounts
332, 682. 41
United States Government bonds and securities
1, 125, 000. 00
Accrued interest on United States Government bonds and
securities
20, 405. 37
Other securities
4, 712,626. 17
Accrued interest on other securities
20, 232. 12
Notes and bills payable
446, 833. 65
Rediscounts for other Federal intermediate credit banks___
400, 000. 00
Cash on hand and in banks
4, 383, 399. 89
Capital stock callable from United States Treasury
35, 000, 000. 00
Furniture and
fixtures
20,470. 65
Profit and loss
632, 536. 78
Other assets
320, 191. 24
Total assets
Liabilities:
Capital stock subscribed
Surplus
Undivided profits
Other reserves.
Reserved for matured debentures
Reserved for depreciation and losses
Debentures outstanding
Accrued interest on debentures outstanding
Notes and bills payable
Notes and biUs rediscounted
Deferred rediscounts
Interest collected not earned
Cash capital rediscount agencies
Other accrued interest.. 1
Other liabilities
Total liabilities

110, 292, 970. 51
60, 000, 000. 00
1, 447, 310. 40
735,353.39
5, 845. 72
500, 000. 00
341, 598. 61
45, 050, 000. 00
566, 465. 82
250, 000. 00
400, 000. 00
173, 917. 42
403, 702. 00
223, 369. 07
3, 435. 64
191,972.44
110,292,970.51

NATIONAL AGRICULTURAL CREDIT CORPORATIONS

The National Agricultural Credit Corporations of Fort Dodge,
Iowa, and of Des Moines, Iowa, were voted into voluntary liquidation
on October 25, 1926. As none has been organized since then, only
one, the Pacific National Agricultural Credit Corporation of Fresno,
Calif., remains in operation.
The two Iowa corporations were organized to answer the temporary
needs of the sections in which they were located and they were discontinued when in the judgment of their shareholders the purpose
for which they had been organized had been fulfilled.
The growth of the Pacific National Agricultural Credit Corporation,
which is authorized to do business in the Pacific Coast States and a
few contiguous ones, indicates the need for it as permanent rather
than temporary. A comparison of the statement of this corporation
for October 10, 1927, with the statement of the same corporation for



KEPORT OF THE COMPTROLLER OF THE CURRENCY

135

June 30, 1926, as it appeared in the report of the Comptroller of the
Currency for the year 1926, will show that its resources have more
than doubled during an interval of about 16 months. Further comparison will also show that on October 10, 1927, the resources of
the one remaining corporation were over 50 per cent more than the
combined resources of all corporations in operation on June 30, 1926.
In the statement following is shown a summary of the resources
and liabilities of the Pacific IN ational Agricultural Credit Corporation
of Fresno, Calif., at the close of business October 10, 1927:
RESOURCES

Cash on hand and in banks
United States securities
Loans
Furniture and
Accounts receivable
Customers funds held in trust
Other assets

fixtures

Total

$66, 489. 93
262, 906. 01
3,212,294. 01
3,069. 70
844. 74
42, 195. 91
10, 281. 51
3, 598, 081. 81

LIABILITIES

Capital stock
Undivided profits.
Interest
Discounts
Undistributed trusteed funds
Other liabilities
Total
NOTE.—Trust securities not included.

500, 000. 00
17,276. 32
37, 316. 75
2,991,725. 76
42, 195. 91
9,567. 07
3, 598, 081. 81

UNITED STATES POSTAL SAVINGS SYSTEM

The resources of the United States Postal Savings System on June
30, 1927, according to information obtained through the courtesy of
the Third Assistant Postmaster General, under whose supervision
the system operates, aggregated $155,901,000 and showed an increase
of $14,089,000 in the year.
The total number of depositors on June 30, 1927 was 411,394, an
increase of 12,089 in the year, and the average amount of deposits
per depositor was $358.19, compared to $336.03 a year ago.
Withdrawals of postal savings funds in the year were $93,960,000,
and the balance to the credit of depositors on June 30, in the current
year, was $147,359,000, an increase in the period of $13,181,000.
Surplus funds, consisting of interest and undistributed earnings
subject to future allocation of maturing interest changes increased in
the year from $203,000 to $206,000.
Comparative statements in relation to the operation of the Postal
Savings System for the years ended June 30, 1926, and 1927, follow;
71284°—28




10

Comparative balance sheet for June SO, 1927, and June SO, 1926
CO
Items

June 30,1927

Working cash:
Depository banks.
Postmasters

$114,343,673.43
268,654.64
•$114,612,328.07

Special funds:
Treasurer of the United StatesReserve fund
Miscellaneous (working) funds

6,426,695.18
909,182.52

Accounts receivable:
Accrued interest on bond investments..-.
Due from late postmasters-_
_
Investments, carried at cost price:
United States bonds—
Postal Savings 2^'s
Fourth Liberty 43^'s

365,264.67
42,017.57
Par value
$10,325,140
26,676,750

10,325,140.00
23,220,860.36

37,001,890

7,335,877.70

407,282.24

33,546,000.36

June 30,1926

$100,948,814.66
$13,394,858.77
241,863.37
26,791.27
• $101,190,678.03 13,421,650.04
6,601,985.18
420,387.99

10,003,300.00
23,220,860.36

155,901,488.37

7,022,373.17

374,699.96

33,224,160.36

$175,290.00

4,023.01
28.559.27
32.582.28

•""32i,~840."Q0

141,811,911.52

361,241.66
13,458.30

488,794. 53
313,504.53

O

14,089,576.85

321,840.00 |

LIABILITIES AND SUBPLUS FUNDS

Due depositors:
Outstanding principal, represented by certificates of depositAccrued interest on certificates of deposit
_
Outstanding savings stamps
Accounts payable:
Due Postal Service—interest and profitsDue discontinued depository banks
Total liabilities...
Surplus funds:
Interest and profits (undistributed earnings) subject to future allocation of
maturing interest charges_




147,359,254.00
3,972, 111. 69
58,400.90
4,305,909.83
256.79

151,389,766.59

4,306,166.62
155,695.933.21

134,178,558.00
3,796,140.72
58,627.90

13,180,696.00
175,970.97
138,033,326.62

3,575,593.88
486.18

227.00

13,356,439.97
730,315.95

3,576,080.06

730,086.56

141,609,406.68

14,086,526.53

205,555.16

202,504.84

3,050.32

155,901,488.37

141,811,911.52

14,089,576.85

229.39

o

Comparative statement of interest-earning resources and interest-bearing liabilities for June SO, 1927, and June 80 > 1926
Items

June 30,1927

June 30,1926

Increase

Decrease

RESOURCES—INTEREST-EARNING

Working cash:
Depository banks, per balance sheet
Investments, carried at cost price, per balance sheet

$114,343,673.43
33,646,000.36

$100,948,814.66
33,224,160.36
$134,172,975.02

147,359,254.00

134,178,558.00

13,180,696.00

530,419.79

-5,582.98

s

$13,394,858.77
321,840.00
13,716,698.77

536,002.77

$147,889,673.79

LIABILITIES—INTEREST-BEARING

Due depositors:
Outstanding principal, represented by certificates of deposit, per balance
sheet
Excess of interest-earning resources..

3
o

Comparative statement of interest and profits for the fiscal years ended June 80, 1927, and June SO, 1926
Items
Credits:
Interest on bank deposits
Interest on bond investmentsMiscellaneous receipts
Debits:
Interest credited to depositors __.
Allowances to postmastersLosses by fire, burglary, e t c . .
Final adjustment, previous year..
Excess of income.




Fiscal year 1927

$2,680,180.28
1,388,392.50
11.42

$4,068,584.20

Fiscal year 1926

$2,478,392.91
1,381,066.28
11.83

2,527,375.04

Decrease

i

$201,787.37
7,326.22
$3,859,471.02

2,418,811.95

4,254.70
3,050.32

Increase

1,920.66

209,113.18

$0.41

108,563.09

2,534,680.06

2,420,732.61

1,533,904.14

1,438,738.41

2,334.04
3,050.32
113,947.45
95,165.73

CO

Summary of postal-savings business for the fiscal year ended June SO, 1927, by States
Balance to
the credit of
depositors
June 30,
1926

Deposits i

United States.

$134,178,558

$107,140,780

Alabama
-.
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
DelawareDistrict of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana..
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
MassachusettsMichigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania

360, 753
665,528
1,109, 282
222,147
2, 686,893
3,276,507
1,565, 768
128,463
365,013
2,185,033
500,936
21,683
2,183, 716
6,985,801
755,470
2,976, 716
1, 353,436
240,752
296,983
145, 755
169,563
7,495,621
2,158,463
3,784,501
76,558
3,638,852
4,938,807

344, 630
362,363
1,262,068
320,819
2,556, 643
2, 536,882
734,559
73,884
289,156
8,483,430
1,171,639
34,486
2, 476,822
3,592,604
492,018
6, 704,515
1,924,670
156, 579
274,910
71,895
124,962
3,325,513
1,348,830
4,607,068
58,965
3,336,723
3,947,115
262,885
266,493
163,085
2,078,675
1,094,240
24,069,940
254,730
863,459
1,486, 713
3,429,110
1,810,132
5,550,344

State




342,948

309,499
374,511
3,121,230
1,179,544
44,539,453
103,954
2, 765, 445
2,570,464
2,113,252
10,573,832

Savings stamps

Balance to
the credit of
depositors
June 30,
1927

Increase in
balances
to the
credit of

$93,960,084

$147,359,254

$13,180,696

$37,563.00

342,188
349,152
1,160,697
157,071
2,315,750
2,134,438
877,409

363,195

2,442
13,211
101,371
163,748

24.50
65.30
21.50
97.70
236.00

Withdrawals *

285, 600
6,363, 647
673,168
32, 574
2,122,427
3,555,338
362,015
2,670,960
833,596
136,322
177,682
82,238
116,481
3,926,229
1,338,656
2,447,411
37,973

2,370,089
3,344,978
183,420
232,757
166,416
2,423,968
932,909
29,531,543
142,484
478,790
1,288,651
2,148,388
1,315, 502
5,916,683

678,739

1,210, 653
2,927,786
3,678,951
1,422,918
112,891
368, 569
4,304,816
999,407
23,595
2,538, 111
7,023,067
885,473
7,010, 271
2,444,510
261,009
394, 211
135,412
178,044
6,894,905
2,168,637
5,944,158
97,550
4,605,486
5,540,944
422,413
343,235
371,180
2,775,937
1,340,875
39,077,850
216,200
1,067,638
2,963, 507
3,851.186
2,607,882
10,207,493

tors a

240,893
402,-444

-142,850
-15,572
3,556
2,119,783
498,471
1,912
354,395
37,266
130,003
4,033,555
1,0§l, 074
20,257
97,228
-10,343
8,481
-600, 716
10,174
2,159,657
20,992
602,137
79,465
33,736
-3,331
-345,293
161,331
-5,461,603
112,246
198,062
1,280,722
494,630
-366,339

Sold

Redeemed

98.20
78.20
35.80
4,060.30
18.50
69.10
44.00
15.50
11.00
87.00
59.60
2,097.30
150.70
261.80
13.10
55.10
41.50
42.80
12.70
244.80
1,305.60
13.30
8,739.00
11.10
30.80
273.50
103. 40
78. 70
1,780.40

38
3,607
19
67
51
18
13
83
63
2,218
170
260
19
63
40
59
13
274
1,413
12
9,204
8
33
250
93
85
1,781

247.10
113.60

Interest
received
from banks

Interest
paid
depositors

Amount
of deposits
surrendered
for bonds

$37, 735 $114,597,400.18 $2,680,180.28 $2,351,404.07
20
65
17
66
313
215
1,138
15
125
111
79

1,161.60
27.20

Amount at
interest in
banks June
30,1927

319,038.41
497, 798. 22
1,056,802.13
368,118.32
2,192,573.45
3,555,025.24
910,998.04
105,867.38
333,869.37
4,191,112.78
965,709. 29
22,798.57
2,502,393.43
5,377,452.48
683,358.63
6,977,821.60
2,288,861.76
213,936.78
336,958. 65
113,893.02
111, 154.84
5,177, 521. 78
1,650,140.15
5,924, 357.91
93, 302. 72
4,241,169.83
5,475,337.12
385,785.25
302, 566.08
306,794.20
1,993,943.03
905,120.51
21,021,974.76
184, 649.14
1,057,290.45
2,133,591.63
3, 792,091.55
2,244,813.64
9,048,661.35

7,725.09
14,860.27
25,280.16
6,578.66
55,420. 65
85,289.93
24,545.70
2,878.42
9,319. 56
83,996.42
18,421.84
538.82
59,079.44
124,200. 59
18,033. 70
119,413.32
42,397.75
5,029.91
6,891.95
2,928.15
2,620. 20
146,077.27
45,674.60
117,991. 37
2,037. 57
92,379. 52
131,913.84
8,294.80
7,075.19
7,764.57
54,306. 56
20,480.81
525,213.06
3,313.03
21,786.41
53,953.54
52,244.21
227,987.84

6,368.95
13,048.35
14,509.18
3,522.84
49,919.73
47,510.11
30,612.57
2,742.97
6,576.33
28,502.38
7,481.30
592.94
31,750.90
128,380.06
14,075.76
40,742.50
19,441.38
4,352.51
5,705.16
2,968.10
2,683.17
133,700.17
44,841.84
54,324. 73
1,170.89
60,350.31
71,006.76
6,534.05
5,308.22
6,090.59
59,375.45
13,994.17
861,594.85
1,411.61
8,960.12
47,439.25
34,376.42
36,617.12
187,454.67

820
13,900
2,500
21,360

5,040
720
1,200
9,900
25,100
8,220
65,540
33,840

1,000
5,000
103,720
2,500
36,360
34,800
5,700
100
7,500
16,300
6,000
51,060
29,000
12,360
24,400

168,453
645,247
354,477
1, 596,470
276,853
1,597, 636
595,499
68,388
241,539
9,310
6,492,913
385, 797
1,110,224
1,669,651

Porto Rico
Rhode I s l a n d South Carolina.
South Dakota..
Tennessee
Texas
Utah
Vermont
Virginia
Virgin Islands..
Washington
West Virginia..
Wisconsin
Wyoming

223,865
332, 644
1,188,148
3,749,131
371,982
2,534, 409
372,909
195,172
11,262
3,743,024
649,185
1,491,116

232,650
410,641
514,490
2,024,130
22b,938
1,330,600
352,185
31,497
193,857
8,780
3,462,646
226,546
575,476
1,302,592

159,668
567, 250
1,028,135
3,321,471
424,897
2, 796,445
616,223
62,581
242,854
11,792
6, 773,291
467, 940
1,183,933
1,858,175

-8,785
-77,997
673,658
1,725,001
148,044
1,198,809
20,724
-5,807
1,315
2,482
280,378
82,143
73,709
188,524

14,660.40
301.90
17.60
143. 50
14.40
77.60
25.50
8.90
100.60

14,597
337
16
107
16
92
6
10
119

138,373.59
449, 738. 81
881,091. 76
2, 659,831. 34
401, 825. 39
2, 255,908. 53
426,289.18
57,244. 68
230,130.46

3,391.72
12,123. 74
16,156.22
54,473. 40
7, 791. 21
44,005.11
13,013. 63
1,533.77
5,701. 35

83.70
79.50
45.70
176.40

90
10
43
174

5,400,473.10
357,838.49
914,490. 62
1, 359, 510. 74

142,914.85
9,044. 30
24, 432. 62
35,354. 66

* These totals include the amount of $3,533,912 transferred between depository ofl^ces.




2

2,397. 58
12,807. 59
4,229.71
21,836.64
4,551. 49
24,334. 99
9,946.90
1,044.08
4,783.19
86.84
119,285.01
5,830.98
20,967.48
23,263.18

2,500
7,500
21,480
10,320
16,240
840
9,900
3,220
9,220
24,600

A minus sign denotes decrease.

00

so

140

REPORT OF THE COMPTROLLER OF THE CURRENCY
SCHOOL SAVINGS BANKING

According to information compiled by the savings bank division
of the American Bankers Association the net savings of school children
in 12,678 reporting school savings banks in the continental United
States on June 30, 1927, aggregated $9,464,178.93, and showed an
increase of $693,447.88, or 7.9 per cent since June 30, 1926. The
number of pupils enrolled in schools having a school savings system
was 4,658,156, an increase of 7.8 per cent; the number of pupils
participating in school savings, 3,815,785, increased 12.1 per cent,
and deposits aggregating $23,703,436.80, were 15.7 per cent more than
on June 30, 1926. Bank balances at the close of the current fiscal
year were $39,137,073.91, and exceeded by $7,153,021.28 the amount
reported a year ago.
Statistics relative to school savings banks in the 45 reporting States
and the District of Columbia for the fiscal years ended June 30, 1926,
and 1927, with comparative yearly totals beginning 1920, are shown
in the following table:
School savings by States, 1925-26 and 1926-27
Number of
schools

Number participating

Deposits

Net savings

States
1926-261926-27 1926-26
Alabama
Arkansas
California
Colorado
Connecticut
Delaware
Dist. of ColumbiaFlorida
Georgia
Idaho
Illinois
Indiana
Iowa.
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
,
Montana
,
Nebraska
Nevada
New Hampshire...
New Jersey
,
New York
North Carolina
North Dakota
Ohio
,
Oklahoma...
Oregon
,
Pennsylvania
Khode Island
,
South Carolina
South Dakota
Tennessee
,
Texas
Utah
Vermont
,
Virginia
Washington
West Virginia
Wisconsin
Total

11
1,765
44
54
29
114
2
512
314
233
54
205
86
133
87
967
426
490
9
117

442
1,058
40
601
55
107
1,544
307
16
53
18
97
246
121
331

31
7
2,223
26
493
43
51
29
101
2
510
272
223
70
205
90
232
91
987
453
503
139
7
73
61
553

9,515
1,489
214,903
95,127
26,097
6,409
13,261
44,259
192
137,118
86,222
64,677
17,662
55,017
34,439
19, 259
34,613
206,924
128,077
153,568
2,125
66,919
2,432
32,008
134,184
547,149
17,265

601 220,101
56
13,615
118
41,238
1,799 493,820
315
82,590
16
3,043
51
86 ""26," 149
43
4,987
16
20
2,351
72
32,408
266 113,658
162
29,195
347 189,581

1926-27

1925-26

1926-27

1925-26

1926-27

$9,229.09
7,845
$27,460.36 $18,628.45
$37,362.40
1,658.47
2,836.18
6,841.17
8,409.14
2,300
283,476 1,022,380.89 1,288,512.37 631,255.09 795,901.68
6,371.30
5,216.60
6,401.30
150
5,216.60
785,721. 28 440,035.56 497,231. 71
99,136
683,122.69
76,662. 29
206,394. 59
39,174.21
17,658
202,998.48
46, 795.04
38,333. 53
6,172
46,795.04
38,333. 53
54,724.12
93,600. 79
15,589
107,515.30
18,763.05
202,277. 67
69,218. 57
30,990
199,140.94
39,400.77
1,007.14
562.32
343
817.22
752.25
145,591 1,153,317.00 1,205,711.00 342,843. 91 297,312.92
88,185
607,851.64
650,873. 58 236,423.18 157, 770.19
64,510
403,495.50 117,680.28
391,810.30
85,178.01
28,036.17
20,650
111, 130. 62
90,691.79
44,701.85
32,925.78
47,241
234.391.38
228.138.09
38,353.65
12,682. 54
99,802. 25
74,124.22
99,802.25
50,024. 77
105,525. 53
26,542
53,451.15
85,434.77
90, 900. 73
128,667. 95
122,832.01
39,331
90,161.39
215,790 1,302,569.21 1,390,518.39 830,591.49 806,897.85
775,908. 93 273, 257. 97 215.042.14
136,853
781,029.46
640,026. 79 382,785.04 207,052.81
158,244
616,710.01
11,816.64
12,807.01
1,907
21,974.28
4,826.23
303,965.43
91,028.94
271,987.97
57,517
93,791.89
5,614.74
13, 714.64
2,414
9,417.07
6,225.33
34,436.47
224.851.10
214.005.39
35,257
34,922.99
492.23
400
138. 59
2,262. 27
13,043.43
4,200.32
2,866
9,605.84
284,477 1,253,588.96 1,593,616.50 559,852.58 638.374.15
660,372 2,847,332.68 3,654,388. 641,784,346.74 2,277,
"577,277.42
55,844. 22
17,363.63
17,237
43,258.63
15,330. 30
4,703.76
3,082. 69
227,973 1,463,537.48 1,623,743.70 520,998.92 520,094.39
136,726. 51
48,603.76 103,935. 57
18,048
63,812.09
275,914.08 144,913.73 125,819.25
54,462
184,119.30
L
,
572,956 3,555,582. 78 4,163,098.22 888,860.451; 168,943.59
940,233.00 218,460.11 190,575.07
84,462
858,565.99
15,849. 51
9,939.10
3,815
9,546.76
8,946.76
64,096.84
43,781.92
9,919
207,742.67 ~~46,~125.~35
42,740.28
35,375 """l59,"486."67
62,910.02
41,970.95
17,474
12,298.68
17,696.56
16,368. 58
11,889.14
2,810
9,010.04
7,622.46
1,134
8,707.62
6,933.14
205,838.90
26,617. 42
202,385.48
31,953.54
32,706
919,432.44 368,803.03 323,469.47
793,762.97
119,927
202,268.02
167,450.23
40,592
52,986. 21 67,076.49
591,020.90 171,216.99 120,713.98
572,412.96
85,800

11,371 12,678 3,403,746 3,815,785 20,469,960.88 23,703,436.80 8,770,731.05 9,464,178.93




REPORT OF THE COMPTROLLER OF THE CURRENCY
School savings by States, 1925-26 and
Totals, United States

1926-27—Continued

Number
Number of participatschools
ing
12,678
11,371
10,163
9,080
6,868
4,785
3,316
2,736

1926-27
1925-26
1924-25
1923-24
1922-23
1921-22
1920-21
1919-20

141

Deposits

3,815,785 $23, 703,436. 80
3,403,746
20, 469, 960. 88
2,869,497
16,961, 560. 72
2, 236, 326 14,991, 535. 40
1,907,851 10,631,838.69
1,295, 607
5, 775,122. 32
802,906
4,158,050.15
462, 651
2,800, 301.18

Net savings

$9,464,178.93
8,770,731.05
7,779,992. 55
8, 556,991.27

SAVINGS B A N K S I N P R I N C I P A L COUNTRIES OF T H E WORLD

Statistics compiled by the finance and investment division of the
Bureau of Foreign and Domestic Commerce, Department of Commerce, relative to savings banks, including postal savings banks, in
the principal countries pf the world, on specified dates, supplemented
by information obtained from reports received in the currency
bureau from other sources, are shown in the statement following.




Savings banks, including postal savings banks, number of depositors, amount of deposits, average deposit per deposit account and per inhabitant,
by specified countries
Country

Population 1

Argentina
Australia
Austria
Belgium
Bolivia
British Malaya
Brazil
Bulgaria.
Canada
.„,
Chile
China
Costa Rica
Cuba
Czechoslovakia
Danzig (Free City of)
Denmark.
Ecuador
_
Egypt...
Estonia
Finland
France
Germany. _
Greece
Guatemala
Honduras
India"
Italy
Japan
Latvia
Lithuania
Mexico 2
«
Netherlands
„
New Zealand
Nicaragua
North Ireland
Norway
Palestine




9,548,092
5,496, 704
6, 526, 661
7, 600, 000
2,820, 074
1,324, 890
30, 635, 605
4,958, 400
8,788,488
3,805,000
350,000, 000
485, 049
3,123, 040
13, 613,172
« 364, 380
3,352, 000
1,500,000
13,551, 000
1,110, 538
3,366, 507
39,402, 000
59, 858,284
5,447,077
2,119,165
673,408
319, 075,132
38,835,941
58,481,500
1,885,870
2,011,173
13,887,080
7,086, 913
1,274,000
638,119
1,288,000
2,649, 775
755,858

Number
of banks Date of report
reporting
2 110 Dec. 31,1925
5
do
o
37 Mar. 31,1926
* 2,360 Dec. 31,1925

do.
Jan. 1,1926
Dec. 31,1924
13 Jan. 1,1926
/Dec. 31,1924
01)
\Mar. 31,1926
3 3, 626 Apr, ],1926
1925
340
(I4)
()
1925
/Dec. 31,1925
5,317
\Mar. 31,1926
Dec. 31,1925
197 Jan. 1,1926
do
16
do
4T Apr. 1,1926
2 1, 563 Mar. 1,1926
Dec. 31.1925
Jan. 1,1926
/Dec. 31,1925
19 \Mar. 31,1926
12 Jan. 1,1926
do.
2
10, 535 Mar. 31,1924
11, 075 Jan. 31,1926
May 31,1926
478 Apr. 1,1926
504

Jan.

Form of savings bank

Federal, commercial, and postal
Savings, commercial, Federal, and State
__.
Governmental, postal, and private
Postal, semiofficial, and commercial
National, private, commercial, and mortgage
Federal, postal savings
Federal"
,
_
Postal, governmental, private
f Postal, governmental, commercial, private, trust,
\ provincial.
Federal
Postal
_

^Commercial, state and private
Public
Sayings and private
Private, trustee, and commercial
Postal and commercial
Governmental and private
Postal, private, and joint stock
Postal and governmental
State and municipal
Postal, governmental, and private
Communal, commercial, and privatePrivate.
Postal savings
Postal and semiofficial24.
Postal
Postal, governmental, municipal, private, and commercial.
1,1926 Governmental, private,and mutual

Postal and commercial
Postal savings27
Federal, private, and commercial.
/Dec. 31,1924 •Postal and trustee.
\Dec. 31,1925
Jan. 1,1926 Commercial and savings.
do
Commercial
—
10

1,667
855

Dec. 31,1925
do

Number of
depositors

4,071,140
» 4,210,546
7 8,465
40,075
785,796
Unknown,
(if)
1,325,454
51,565
16,883
6,150,000

"7,494
323,094
40,353
(19)

20 17,000,000
282, 906
"2,071
2,089,314
31,914,679
36,798

Deposits

3 $597,393,000
898, 963,808
86,488, 913
•162,041,633
« 4,192, 609
3, 512. 534
48, 212, 260
i«l,843,574
1, 500, 538,547
« 20,631,435
4,971, 270
46, 280, 761
1,779,402,000
2,832,000
i« 291,100,000
18
1,273,858
13,741,175
17,302, 588
71,376,200
20 607,888,000
21 484,693,000
18,848,792
23 1,772,447
616,332
89,238,000
871,735,000
540,480,783
16,136,000

Average Average
deposit ac- deposit
per incount
habitant

$220.80
38.48
495.29
87.65
61.35

15.57
96.41
2, 741.26

289.33

$62.57
163.54
13.25
21.32
1.49
2.65
1.57
.37
170.74
5.42
.01
14.82
130.71

16.94
438.50

7.77
86.84
.85
1.01
15.58
21.20
15.43
8.10
3.46
.84
.92
.28
22.45
9.24
8.56

169.98
42.53
428.78
35.76

66.63
855.84
42.71

4,126,057

2.05

2e 2, 537,448
735,148
365

» 195,480,818
224,355,756

77.04
305.18
242.56

27.58
176.10
.14

208,232

42,743,000
28 28,050,000
12,350,000

205.27

33.19
10.59
16.34

Panama.-----PolandPortugal
Salvador *
Siam
South Africa
Sweden
Uruguay
United Kingdom

Foreign countries, total
United States and possessions
Philippines
Grand total

442, 522
29,160,163
5, 628, 610
1,550,000
9,322,000

---•_

6,729,382
5,987, 520
1,603,000
44,147,601

do
Dec. 31,1925
Jan. 1,1926
Jan.
/Mar.
\Dec.
530 Jan.

1,131, 909,693

39,431

118,7 4,000
11,100,000

381,461

1,261, 713,693

1

Federal and commercial
Savings, cooperative, private, and governmental-.
Postal, governmental, private, and commercial29..
81

1,1926 Governmental
31,1926
31,1924 (•Postal, commercial, and building societies
1,1926 Communal, private, postal, and commercial.
Commercial381925 Postal savings, railway banks, building societies,
trustee savings banks, national savings certificates.

/Postal savings system..
June 30,1927 1 Mutual and stock
d o . . . . . . Postal

5,651

3, 47,559
97,445,820
36,291,185

539.30

331, 033,337
55,893,227
3« 920, 577,110
48,852,538
4,431, 684,438

80.74
147.77
175.57
309.56

77,635,711
411,394
14,814,271
198, 054

14,285, 525,897
147,359, 000
9, 738, 902, 000
3, 009,888, 000

184.01
358.19
657.40
15.20

12.62
1.24
82.04
.27

93, 059,430

24,174,797,039

259.78

19.16

3212,798
** 378,249
5,243,375
157,812
(37)

3.34
6.45
.11
8.31
153.75
30.48
100.38

1 Population figures taken from World Almanac for 1925.
Branches.
Conversions have been made at average rates for year preceding or covered by report; par has been used in case of Australia, Egypt, Germany, Finland, Netherlands, North
Ireland, Sweden, Uruguay, Nicaragua, Chile, Palestine, Canada, South Africa. Other conversions made at the following rates: Argentina, 1 peso=$0.914; Austria, 7 shillings=$l;
Belgium, 1 franc=$0.0476; Bolivia, $1=2.88 bolivianos (rate for Dec. 31,1925); Brazil, 1 milreis=$0.11; Bulgaria, 1 lei=$0.007317 (average rate, 1925); China, $Ml=$0.55 (average rate
for 1925); Czechoslovakia, 1 crown=$0.0297; Danzig, 5.19 gulden=$1; Denmark, $l = Xr.4.05; Ecuador, 1 sucre=$0.22 on Jan. 1,1926; Estonia,
; France, 1 franc=$0.0477; Greece,
1 drachma=$0.0156; Finland, $1=39.70 marks; Honduras, $1=2.12 pesos; India, 1 rupee=$0.36; Italy, 1 lira=$0.0404; Japan, yi=$0.47; New Zealand, £=$4.77%; Norway, $l = Kr.4.92;
Panama, United States dollar; Poland, 1 zloty=$0.1774 (average rate for 1925); Portugal, 1 escudo=$0.0514; Siam, 1 tical=$0.45; British Malaya, Strait $1 =$0.5678.
4
22
Approximate; includes branches and postal-savings agencies.
In addition,. .
. itors.
• Depositors in postal and semiofficial banks only.
23 In addition, $1,983,680 in time deposits.
24
6 Of this sum $139,836,710 represent deposits in postal and governmental institutions.
Data not available on savings deposits in commercial banks.
Figures on commercial banks incomplete.
" There are no savings banks in Mexico.
26
7
Figures incomplete.
In addition,l,178 time depositors.
27
There are 5 private sayings banks with deposits totaling $27,430,655 on Dec. 31,1925.
«In addition, $20,537,563 in time deposits.
28
There are, in addition,time deposits to the extent of $364,680,000. Thesefiguresinclude
• Commercial banks may accept savings deposits only on special authorization.
5 banks in liquidation with savings deposits of $1,373, 00 and time deposits of $19,979,000.
" In addition, $56,768,944 in time deposits.
29
11
Includes only 22 private banks and 9 commercial banks.
There are 1,379 postal-savings branches.
12
30 No savings banks in Salvador.
There are 79,167 depositors in postal-savings banks, with deposits totaling $23,072,394,
31
Treasury savings banks.
" There are, in addition, time deposits in Federal banks amounting to $9,939,810.
14
32 Includes time depositors.
No figures available.
33
Includes time deposits.
" Figures for private banks unobtainable.
34
Includes only depositors in postal and savings banks and members of building
w In addition to these banks, the 193 private banks held time deposits to total of
societies.
$246,600,000.
17
3* In addition, there are 498,603 time deposits, totaling $539,812,211.
In addition, 1,513 time depositors
36
Figures for railway banks for 1924; for national savings certificates, for Mar. 31,1926.
« I n addition, $8,177,834 in time deposits.
37
19
Unknown. There are 12,431,373 postal deposits and 2,340,644 trustee savings-bank
Total notknown, but depositors in private savings banks numbered 553,913, with
,___,_._,,,....
^
.,. .,.
total deposits of $53,841,300; and in postal savings banks 136,213, with depositsof $4,257,800. depositors with deposits of £285,491,388 and £142,179,367, respectively.
20
88
Approximate
figure.
Refers to mutual and stock savings only.
21
There are, in addition, time deposits to the extent of $216,900,000.
Information not available in following countries: Hong Kong, Jugoslavia, Rumania, Turkey.
2
3




1
O
O

o

3
o

00

144

REPORT OF THE COMPTROLLER OF THE CURRENCY
RESOURCES OF LEADING FOREIGN BANKS OF ISSUE

The total resources of 33 foreign banks of issue converted at the
existing rate of exchange on or about June 30, 1927, were $14,588,485,000, in comparison with resources of $12,419,965,000 reported
by 32 foreign banks on June 30, 1926.
The statement following, prepared by the Federal Reserve Board,
shows total assets of the 33 banks of issue on the dates indicated,
designation of their local currency, total amount of assets, rates of
exchange, and total assets converted at rate of exchange on given
dates:
Total assets of principal central banks about June 80> 1927
[In thousands of local currency and of dollars]

Date

Austria
Belgium
Bulgaria
Czechoslovakia..
Danzig
Denmark
Egypt
England
Estonia
Finland
France
Germany
Greece
Hungary
Italy
Latvia
Lithuania
Netherlands
Norway
Poland
Portugal
Rumania
Russia
Spain
Sweden
Switzerland
Yugoslavia
Chile
Peru
Uruguay
Japan
Java
South Africa

.

Local
currency-

June 30 Schilling....
June 23 Belga
June 30 Lev
do
Crown
..do.
Gulden
-do.
Kroner
.do.
Egyptian
pound.
June 29 Pound
June 30 Estmark
...do.... Markka
Franc
...do.-.. Reichsmark.
..
June 15 Drachma
June 30 Pengo
...do.-.. Lira
June 29 Lat
June 30 Litas
June 27 Florin
___ June 30 Kroner
. - d o . . . . Zloty
do
Escudo
June 25 Leu
May 1 Chervonetz.
June 25 Peseta
___ June 30 Krona
...do
Franc
_^ ...do..
Dinar.
...do-..
June 25
...do
...do....

Peso...
Libra..
Peso...
Yen.
Florin..
Pound.

Total assets
Rate of converted
Total assets exchange on at sate of
given date exchange on
given date
1,281,033
2,104,514
8,336,148
53,589
503,881
69,061
282,839
8,094,212
2,494,799
68,276,203
5,346,196
9,818,722
944,045
26,717,778
169,764
881,112
528,743
1,111,323
4,186,200
31,818,593
343,430
5,836,736
751,681
963, 256
9,705,373
664,842
7,281
179,865
2,607,583
408,623
16,496

Total..

Cents
14.0650
13.89
.7207
2.9621
119.47
26.72
497.80
485.53
1.2680
2.5190
3.91
23.69
1.347
17.44
5.52
i 19.30
i 10.00
40.06
25.85
11.21
5.03
.5952
515.00
16.88
26.80
19.25
1.7560
12.04
374.00
99.87
47.20
40. 21875
1486.65

180,177
292,317
60,079
257,390
10,434
134,637
343,786
1,373,268
21,692
62,844
2,669,600
1,266,514
132,258
164,641
1,474,821
39,350
16,976
352,973
136,680
124,579
210,566
189,384
1,768,665
985,241
201,451
185,427
170,426
80,047
27,231
179,631
1,230,779
164,343
80,278
14,588,485

i Par of exchange, as no quotation available on given date.
EXPENSES OF T H E CURRENCY BUREAU

By reference to the table following, showing in detail expenses
relating to the maintenance of the Currency Bureau for the fiscal
year ended June 30,1927, it will be noted that the aggregate expenses
were $5,493,325.07, of which $1,054,349.42 were paid from appropriations and $4,438,975.65 reimbursements by the banks. The
salary rolls aggregated $469,762.96, of which $217,391.77 were paid
from appropriations and the remainder from funds reimbursed by
the banks.



145

REPORT OF THE COMPTROLLER OF THE CURRENCY

Taxes paid by national banks on circulating note issues amounted
to $3,253,461.97. Deducting from this amount the expenses of the
bureau paid from congressional appropriations, $1,054,349.42, leaves
the net income to the Government on account of the tax on circulation at $2,199,112.55.
Expenses incident to maintenance of Currency Bureau and net income derived by
Government from taxes on national-bank notes, fiscal year ended June 30, 1927
Expenses
Expenses
paid from ap- reimbursed
propriation
by banks
Salaries:
Regular roll, including retirement deductions
National currency reimbursable roll, including retirement deductions
Federal reserve issue and redemption division, including
retirement deductions
Insolvent national-bank division, including retirement
deductions
Total salaries
General expenses:
Printing and binding
„
Stationery
Amount expended for light, heat, telephone, telegraph,
furniture, labor-saving * machines, etc., partially
estimated
Special examination of national banks, repairs to macerator, etc
Total general expenses
Currency issues:
National-bank notes—
Paper
Printing, etc..
Plates (reimbursed)
Federal reserve n o t e s Paper
_
Plates, printing, etc
Total currency issues
Expenses on account of national-bank examining service paid
by banks
Postage on shipments of national-bank notes
Postage on shipments of Federal reserve notes
Insurance on shipments of national-bank notes
Insurance on shipments of Federal-reserve notes
Total expenses paid from appropriations..
Total expenses reimbursed by banks
Total expenses

Total
expenses

$217, 391.77
$61,121.68
50, 575.09
140,674.42
28,922.67
8, 541. 22
1,411.83

$469,762.96

7, 651. 51
2, 409.85
5, 567.83

1,273.15

55,778.06

103,312.47
693,496.31
62,302.66

304, 056.90
1, 254, 554.10
2,291,408.48
85, 818.21
83,757.23
22,916.83
66,160.86
1,054,349.42

4,438,975.65

Tax paid by national banks on circulating notes.._
Total expenses of Currency Bureau paid from congressional appropriations
Net income to Government from taxes on circulation

2,417,722.44
2,291,408.48
85, 818.21
83,757.23
22,916.83
66,160.86
5,493,325.07
$3,253,461.97
1,054 349.42
2,199,112.55

Respectfully submitted.
J. W. MCINTOSH,

Comptroller of the Currency.
To the SPEAKER OF THE HOUSE OF REPRESENTATIVES.







APPENDIX
147

DIGEST OF DECISIONS BELATING TO NATIONAL BANKS
The following Federal cases were reported in volumes 272 to 274,
United States Reports, and volumes 15 to 21, Federal Reporter,
second series. In addition to the Federal cases one case each has
been taken from, the New York Supplement, the Northwestern
Reporter, the Pacific Reporter, and the Washington, D. C , Reporter.
In addition to the cases above referred to there have been added
references to a number of decisions of State courts, of particular
interest to banks, for the year ended November 15, 1927, which were
furnished this office by Mr. Thomas B. Paton, the general counsel for
the American Bankers Association. These decisions are given in
Paton's Digest, reference to which is made in each case.
* CHECKS
Cross references:
Pag®
Exchange
156
Payment—Creditor's
acceptance
of check, which was not paid, held not to
extinguish
debt.
(U. S. C. C. A. 1927.) Debt held not extinguished by creditor's acceptance
of check, which w a s not paid. (Cleve. et al. v. Craven Chemical Co. et
al., Craven Chemical Co. v. Federal Reserve B a n k of Richmond et al., 18
Fed. Rep. 2d series, 711.)
Payment—Absent
special agreement,
acceptance of check is not " payment,"
unless check is paid.
(U. S. C. C. A. 1927.) I n t h e absence of special agreement to t h a t effect,
acceptance of a check does not operate a s " p a y m e n t " of a debt, unless
the check itself is paid. (Ib.)
Payment—Agreement
to accept check as absolute payment is not implied
from
surrender of evidences of debt or giving of receipt.
(U. S. C. C. A. 1927.) An agreement t h a t a check is t o be received in
absolute p a y m e n t is not to be implied from the fact t h a t on its receipt
evidences of debt a r e m a r k e d " paid," and surrendered, or a receipt
given.
(Ib.)
Payment—Check
given in payment for debt, in exchange for which
drawee
bank gave exchange draft, which was not paid, held not " paid," $o as to
extinguish
debt (Pub. Laws N. C. 1921, c. 20, § 2).
(U. S. C. C. A. 1927.) W h e r e check given in payment for debt w a s forw a r d e d by F e d e r a l reserve bank into whose h a n d s it came to drawee
bank, which remitted by exchange d r a f t on reserve funds of drawee in
a n o t h e r bank, which exchange draft w a s not paid before closing of
d r a w e r bank, held, original check given in payment for debt w a s not
" paid," so as to extinguish debt, in view of Public L a w s N o r t h Carolina,
1921, chapter 20, section 2, authorizing a d r a w e e bank to pay checks by
exchange drafts, unless cash payment is specified by d r a w e r . (Ib.)
ACCEPTANCE

OF C H E C K

BY

CREDITOR, W H I C H WAS
EXTINGUISH DEBT

NOT

PAID,

HELD

NOT

TO

Bills and notes—Generally
acceptance of draft representing
proceeds of check
operates as payment thereof, discharging
drawer.
(U. S. C. C. A. 1927.) Generally acceptance of a d r a f t representing proceeds of check operates as payment of check and discharges d r a w e r of
check from further liability. (Ib.)
149




150

REPORT OF THE COMPRTOLLER OF THE CURRENCY

Bills and notes—Absent statute, oheck is payable in cash, and acceptance of
something else estops payee to deny payment.
(U. S. C. C. A. 1927.) In absence of statute, cheek is payable only in
cash, and if holder accepts something other than cash he assumes the
risk incident thereto, and is estopped to deny payment as against drawer.
(Ib.)
Payment—Creditor's acceptance from debtor of third persons check is conditional payment only, in absence of special agreement.
(U. S. C. C. A. 1927.) In the absence of any special agreement, the mere
acceptance by a creditor from his debtor of the check of a third person
payable to the creditor's order for a pre-existing debt is not absolute,
but merely conditional, payment, defeasible on dishonor or nonpayment
of the check. (Ib.)
Payment—Creditor, accepting check not paid, held not precluded from proceeding against debtor, or required to look to bank receiving check for
payment.
(U. S. C. C. A. 1927.) Creditor's acceptance of check, which was not paid,
held not to preclude it from proceeding against debtor, or require it to
look to bank with which it deposited check for collection. (Ib.)
Federal reserve bank held not negligent in collection of check, in accepting
exchange draft, or failing to require check bearing "I. 0." (immediate credit)
Symbol (Pub. Laws N. C. 1921, c. 20, § 2).
(U. S. C. C. A. 1927.) Federal reserve bank, receiving for collection check
drawn on North Carolina bank, held not negligent in accepting
exchange draft in payment, as it was required to do by Public Laws
North Carolina 1921, chapter 20, section 2, nor in failing to require
payment by check bearing the " I . C." (immediate credit) symbol. (Ib.)
Payee held not entitled to recover for alleged negligence of bank in collecting
check, where no damage was shown.
(U. S. C. C. A. 1927.) Payee of check held not entitled to recover for
alleged negligence of collecting bank, where full recovery was had against
debtor and no damage shown. (Ib.)
PAYMENT OF CHECKS ON TRUST FUNDS

Trusts—One mingling own and trust's funds in personal banJc deposit is presumed to have first drawn out own funds on check for personal debt.
(U. S. C. C. A. 1926.) Agent or trustee, depositing trust funds to his own
personal credit and mingling them with his personal funds, and thereafter drawing checks on the deposit in payment of his personal debts, will
be presumed to have first drawn out his own money, leaving that belonging to the trust fund. (Commercial National Bank of Independence,
Kans., v. Stockyards Loan Co.; Stockyards Loan Co. v. Commercial National Bank of Independence, Kans., 16 Fed. Rep., 2d series, 911.)
Trusts—Mortgagor, in selling mortgaged cattle and depositing proceeds in his
personal account, occupied fiduciary relation to mortgagee.
(U. S. C. C. A. 1926.) In selling mortgaged cattle and depositing the proceeds in his individual account, mortgagor must be held to have acted as
agent or trustee for mortgagee, thus occupying a fiduciary relation to it
as respects the money. (Ib.)
In view of mutual indulgence of balances, bank without notice of beneficial ownership held not liable to one whose funds agent deposited in own name and
used to pay agent18 preexisting debt to bank.
(U. S. C. C. A. 1926.) There being a mutual indulgence of balances between
bank and depositor, in which his deposits in his own name of proceeds of
cattle which he had mortgaged played no inconsiderable part—that is,
it having extended credit to him by reason of said deposits along with
others, and changed its position by reason thereof—it, having had no
notice of the beneficial ownership thereof, is not liable to the mortgagee
for such funds used by the depositor to pay his preexisting debt to it.
(Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

151

Equity—Ultimate facts, which must be drawn from primary facts found by
master, will be treated as found.
(U. S. C. C. A. 1926.) Though master specifically found only primary facts,
ultimate facts, which can and must be drawn therefrom, will be treated
as found. (Ib.)
Appeal and error—Masters findings, approved by trial court, are not disturbed
when not clearly against weight of evidence.
(U. S. C. C. A. 1926.) Findings of master, approved and confirmed by trial
court, are presumptively correct, and will not be disturbed, unless clearly
against the weight of the evidence. (Ib.)
COLLATERAL SECURITIES
Cross references:
Insolvency and receivers—
South Dakota State banks held without power to put up collateral securing rediscounted notes

Page
171

COLLECTIONS
TITLE TO CLAIMS DEPOSITED W I T H BANK FOR COLLECTION

Forwarding bank can recover against correspondent bank, accepting draft without recourse, for checks forwarded for collection.
(U. S. C. C. A. 1926.) Where correspondent bank in collecting checks
forwarded to it, accepted draft without recourse, and surrendered checks
to drawee bank, forwarding bank was entitled to recover therefor, on
failure to drawee bank before presentation of draft. (First National
Bank of Rigby, Idaho, v. First Utah National Bank of Ogden, 15 Fed.
Rep. 2d series, 913.)
Bank becomes owner of paper unrestrictedly indorsed for deposit, notwithstanding custom or agreement to charge paper back to depositor in event of dAs~
honor.
(U. S. C. C. A. 1926.) On deposit of paper unrestrictedly indorsed and
credit of amount, bank becomes owner of paper, notwithstanding custom
or agreement to charge such paper back to depositor in event of dishonor.
(Ib.)
Bank, receiving checks for collection, is liable for failure to collect because of
negligence of any bank to which it transmits checks.
(U. S. C. C. A. 1926.) Bank, in receiving checks for collection, must not
only use due care, but is also liable for failure to collect, resulting from
negligence of any bank to which it transmits checks for collection. (Ib.)
Bank, as collecting agent, has no authority to accept anything for debt of
principal, except legal tender.
(U. S. C. C. A. 1926.) A bank is collecting agent, without authority to
accept anything for debt of principal, except that which the law declares
to be legal tender, and is responsible for any resulting loss on surrender
of paper on payment of anything except cash. (Ib.)
Trial—Request for directed verdict by both parties submits determination of
disputed facts to court.
(U. S. C. C. A. 1926.) Request for directed verdict by both parties submitted to court ascertainment and final determination of disputed facts.
(Ib.)
Appeal and error—On appeal from directed verdict, after request therefor by
both parties, appellate court is limited to determination of whether law was
correctly applied.
(U. S. C. C. A. 1926.) On appeal from directed verdict, after request therefor by both parties, appellate court may review controverted facts, but
may determine whether there was error in application of the law. (Ib,)
71284°—28
11



152

REPORT OF THE COMPTROLLER OF THE CURRENCY

Collecting bank, if solvent, may mingle proceeds of draft with general assets,
(U. S. D. C. 1926.) Where draft is sent by one bank to another for collection, collecting bank, in absence of express agreement, has implied authority to mingle proceeds with its general assets, thereby creating relation
of debtor and creditor, unless it is insolvent. (First National Bank of
Ventura v. Williams, 15 Fed. Rep., 2d series, 585.)
When proceeds of draft can be recovered.
(U. S. D. C. 1926.) One who has forwarded draft to bank for collection
may recover proceeds, if they can be traced or identified, where collecting bank was insolvent to knowledge of officers at time of collection.
(Ib.)
Money of insolvent bank, including proceeds of draft sent to it for collection,
map be held in trust pending equitable separation for defrauded party, if
bank's funds were increased by such proceeds.
(U. S. D. C. 1926.) Where bank, with knowledge of insolvency, mingles
proceeds of draft sent to it for collection with its money, whole may be
held in trust till equitable separation is made for defrauded party, provided bank's funds were increased by such proceeds. (Ib.)
Bank's use in clearance of cheek received in collection of draft held not to
place cash m bank, so as to create trust fund for amount of draft.
(U. S. D. C. 1926.) Bank's collection of draft, which brought check,
which was used in clearance to pay checks drawn on it, held not to place
any cash in bank, so as to create trust fund for amount of draft; such
check being used to reduce liabilities, not to increase assets. (Ib.)
Trial.
(U. S. D. C. 1926.) Courts must decide cases, not on suppositions, but on
facts as proven or admitted. (Ib.)
COMPTROLLER OF CURRENCY
In case of injury threatened by the illegal action of a Government official he
can not claim immunity from- injunction process on the ground that the suit
is one against the United States.
(D. C. Sup. 1916.) The exemption of the United States from suit does not
protect its officers from personal liability to persons whose rights or
property they have wrongfully invaded; and in case of an injury
threatened by the illegal action of a Government official he can not
claim immunity from injunction process on the ground that the suit is
one against the United States. (Riggs National Bank of Washington,
D. C. v. John Skelton Williams, Comptroller of the Currency; William
Gibbs McAdoo, Secretary of the Treasury; and John Burke, Treasurer of
United States; Washington Law Reporter, vol. 44, p. 434.)
Validity of action of the Comptroller of the Currency in hnposmg penalties
upon a bank for alleged failure to file certain reports called for by him may
be inquired into by the court.
(D. C. Sup. 1916.) The validity of the action of the Comptroller of the
Currency in imposing penalties upon a bank for alleged failure to file
certain reports called for by him may be inquired into by the court and
if found unwarranted by law the payment of interest on bonds of the
bank withheld for the purpose of meeting the penalties assessed may
be compelled. (Ib.)
The Comptroller of the Currency acts within his powers where he determines
that penalties shall not be assessed against a bank in a particular case.
(D. C. Sup. 1916.) The Comptroller of the Currency acts within the powers
conferred upon him by law where upon a review of the entire situation
he determines that penalties should not be assessed against a bank in a
particular case. (Ib,)




REPORT OF THE COMPTROLLER OF THE CURRENCY

153

The fact that the comptroller waived the right to assess a penalty will not
preclude the court from passing upon the right of the comptroller to assess
such penalties.
(D. C. Sup. 1916.) Where, however, at the time a suit for an injunction
was filed it appeared that the comptroller had not only assessed penalties
of $5,000 against the plaintiff bank and directed the withholding of
interest on bonds with which to meet such penalties, but was also claiming that certain reports made by the bank were unsatisfactory and that
penalties of $100 a day were being incurred by the bank, the fact that in
response to the bill the comptroller made affidavit that reports having
been made to all the calls, although not within the time prescribed by
law, he did not intend to assess any penalties other than the $5,000, and
waived the right to assess any other penalty on such calls, will not preclude the court from passing upon the right of the comptroller to assess
such penalties. (Ib.)
Equity jurisdiction.
(D. O. Sup. 1916.) In such a case, equity has jurisdiction because of its
being alleged that property rights are being threatened by acts of a
Federal officer claimed to be unlawful which if not restrained will lead
to a multiplicity of suits. (Ib.)
Secretary of the Treasury can not "be restrained from withdrawing Government
deposits from a national bank.
(D. C. Sup. 1916.) The matter of the deposit in bank of public funds
is one within the uncontrollable judgment of the Secretary of the Treasury, and his action in that regard could not be restrained even though
he should threaten the withdrawal of deposits with the hope that by
so doing he would injure a particular bank. (Ib.)
A bill in equity against the Comptroller of the Currency, Secretary of the
Treasury, and Treasurer of the United States to have declared illegal the
action of the comptroller in assessing certain penalties against the plaintiff
bank, to enjoin the threatened assessment of further penalties, and charging
a conspiracy on the part of the defendants to injure the bank does not state
a cause of action against the Secretary of the Treasury.
(D. C. Sup. 1916.) A bill in equity against the Comptroller of the Currency, Secretary of the Treasury, and Treasurer of the United States to
have declared illegal the action of the comptroller in assessing certain
penalties against the plaintiff bank, to enjoin the threatened assessment
of further penalties, and charging a conspiracy on the part of defendants
to injure the bank, held not to state a cause of action against the Secretary of the Treasury, and the bill dismissed as to him unless he should
be a necessary party in order to give relief by way of directing the
payment of interest on bonds of the bank withheld because of the
penalty assessed by the comptroller. (Ib.)
Special reports required by the Comptroller of the Currency from national
banks under section 5211 are required to show what the comptroller may m
his judgment deem necessary to a full a/rvd complete knowledge of the bank's
condition.
(D. C. Sup. 1916.) Section 5211, Revised Statutes, United States, authorizes
the Comptroller of the Currency to require from banks, in addition to the
five reports as to resources and liabilities therein provided for, special
reports from a particular bank, and such special reports are required to
show what the comptroller may in his judgment deem necessary to a full
and complete knowledge of the bank's condition, and are not to be confined to a mere statement of resources and liabilities as are the five
general reports provided for. (Ib.)
Any inquiry made by the Comptroller of the Currency for the purpose of
informing himself as to the management of a national bank lawful under
section 5211.
(D. C. Sup. 1916.) Section 5211, Revised Statutes, United States, construed
to make lawful any inquiry by the comptroller for the purpose of obtaining information, not only as to current items on the books of the
bank, but also for the purpose of informing himself generally as to the
management of the bank. (Ib.)




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KEPORT OF THE COMPTROLLER OF THE CURRENCY

When acts not held arbitrary.
(D. C. Sup. 1916.) Whether official action is so arbitrary as to amount
to a total lack of authority is a mixed question of law and fact. An
act can not be held arbitrary if it is reasonably related to a particular
lawful purpose or unless the court can say the means have no reasonable
relation to the end. (Ib.)
Comptroller not authorised to demand reports of condition be verified by
persons designated by him to sweat* to them.
(D. C. Sup. 1916.) The calls for reports made by the comptroller in the
present case held lawful, but that officer held not authorized to demand
that such reports be verified by the persons designated by him to swear
to them. (Ib.)
Where comptroller has called for a report not verified and attested as required
by law he can not lawfully assess a penalty.
(D. C. Sup. 1916.) Held, therefore, that the comptroller having called for
a report not verified and attested as provided in the statute could not
lawfully assess a penalty for a failure to comply with the demand made
by him. (Ib.)
Except for the purpose of compelling payment of the interest due the plaintiff
bank and retained to meet the penalties unlawfully assessed by the
comptroller, and of enjoining the assessment of other penalties for failure to
comply with the demands for reports, the bill dismissed as to all of the
defendants.
(D. C. Sup. 1916.) Except for the purpose of compelling payment of the
interest due the plaintiff bank and retained to meet the penalties unlawfully assessed by the comptroller, and of enjoining the assessment of
other penalties for failure to comply with the demands for reports, the
bill dismissed as to all the defendants. (Ib.)
CONSOLIDATION
Merger contract between National and State bank held not ultra vires.
(U. S. C. C. A. 1926.) Contract of merger between National and State
bank held not ultra vires, though national bank assumed liabilities of
State bank, which also carried on insurance business. (Bishop v. United
States (2 cases) ; Gates v. United States, 16 Fed. Rep., 2d series, 410.)
DEPOSITS
Cross references:
Insolvency and receivers—
Rights of persons making deposits after insolvency
Deposit of school funds

Page
167
168

ATTACHMENT OF DEPOSIT BY CREDITOR

Bankrupt's deposit, attached subsequent to issuance and before presentation of
check, passed to trustee, on adjudication within four months.
(U. S. D. C. 1927.) Bankrupt's deposit, attached by creditor within four
months preceding adjudication, the attachment remaining in effect at
adjudication, passed to the trustee, notwithstanding the bankrupt's check,
issued before the attachment, had been presented and was treated by
the bank as valid, subject only to the attachment. (In re Erie Exposition Ass'n, 19 Fed. Rep., 2d series, 524.)
Issuing check and crediting it as payment is not " assignment" of deposit,
which is attached after issuance and before presentation of check.
(U. S. D. C. 1927.) Giving of check, credited on books of the drawer as
payment, does not operate as " assignment" of funds on deposit at time
check is issued, but which are attached by third person before the bank
has notice of the check or demand is made for payment. (Ib.)
Drawee bank's return of check unpaid because of attachment of deposit is
"refusal of payment"
(U. S. D. C. 1927.) The return of check by drawee bank, because of an
attachment of the deposit subsequent to the issuance of the check and
prior to its presentation to the bank, is a distinct " refusal of payment."
(Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

155

APPLICATION OF DEPOSIT ON NOTE

Bank applying deposits of partnership, which used same account with corporation, to corporation's note, held not liable to surety for partnership for
misapplication of funds.
(U. S. D. C. 1927.) Where same bank account was used by partnership and
by members of partnership constituting corporation, bank which without
knowledge of agreement between partners and surety that proceeds of
checks w7ere to go to furnishers of material for carrying out partnership's
building contract, applied checks payable to partnership to note of corporation, was not liable to surety of partnership on building contract, on
theory that it had taken funds of partnership and applied them to corporation's debt. (Fidelity & Deposit Co. of Maryland v. Union State Bank
of Minneapolis et al., 2i Fed. Rep., 2d series, 102.)
Subrogation—Bank, applying money deposited by contractor on note without
knowledge of agreement that it ivas to pay maierialmen, held not liabte to
contractor's surety,
(U. S. D. C. 1927.) Where surety on public contractor's bond received
checks of employer for final amount due contractor, and later surrendered
them to contractor, to be deposited in bank on condition that contractor's
checks to materialmen should be paid from proceeds thereof, it waived
its right of subrogation, and bank, without knowledge of such arrangement, applying proceeds to note of contractor due it, was not liable to
surety. (Ib.)
Generally bank may set off deposit against loan to depositor at maturity or in
case of insolvency or in event of bankruptcy.
(U. S. C. C. A. 1927.) Generally, a bank has right to set off deposit made in
usual course of business against loans to depositor at maturity or in case
of his insolvency, and may do so even in event of bankruptcy. (American
Bank & Trust Co. v. Morris, 16 Fed. Rep., 2d series, 845.)
Stipulations in notes lield to constitute agreement authorizing bank to appropriate deposits on maturity or insolvency.
(U. S. C. C. A. 1927.) Stipulations in notes held to constitute an agreement
authorizing bank to appropriate deposits to payment of loans at maturity
or in case of insolvency. (Ib.)
Deposit applied on notes at maturity may be credited to either of notes secured
by same collateral, and balance may be proved, in bankruptcy. {Civ. Code La.,
art. 2166.)
(U. S. C. C. A. 1927.) Where, under terms of notes, collateral attached to
one was applicable to all notes held by bank, deposit appropriated by bank
and applied on notes could have been credited on either, and the other
proved as a debt in bankruptcy proceedings, since Civil Code of Louisiana,
article 2166, requiring imputation of deposit as payment to secured debt,
has no application. (Ib.)
STATE GUARANTY LAWS

State bank, operating as " going concern" by guaranty fund commission, held not
immune from suit on certificate of deposit. (Laws Nebr. 1925, c. SO, sees.
1, 4; Gomp. 8t. Nebr. 1922, sees. 7982, 8024, 8021; sec. 8028, as amended by
Laws 1923, c. 191, sec. 26.)
(U. S. C. C. A. 1927.) State bank, organized under Nebraska laws, operated as a " going concern " by the guaranty fund commission under Laws
Nebraska, 1925, chapter 30. sections 1, 4, receiving and paying deposits,
making loans, and doing all other acts pertaining to the business of a
going bank, and charter of which was never forfeited, held not immune
from being sued on certificate of deposit issued by it, because operated
by agency of State, in view of Compiled Statutes, Nebraska, 1922, sections 7982, 8024-8027, and section 8028, as amended by laws of 1923,
chapter 191, section 26; presumption being that term " going concern''
was used in its ordinary acceptance, which is repugnant to idea that
corporation ceased to exist. (Metropolitan Savings Bank and Trust Co.
of Pittsburgh, Pa., v. Farmers' State Bank of Rosalie, Nebr., et al., 20
Fed. Rep., 2d series, 775.)




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REPORT OF THE COMPTROLLER OF THE CURRENCY

State statutes held not to prohibit suit against dank operated as "going concern" by guaranty fund commission. (Laws Nebr. 1925, c. 30, sees. 1, 4, 5.)
(U. S. C. C. A. 1927.) Laws Nebraska 1925, chapter 30, section 4, providing for operation of bank by guaranty fund commission as a " going
concern," without any provision changing or taking away any liabilities or
powers previously possessed by bank, held not to prohibit actions against
the bank on its dishonored obligations while it is so operated; section 1,
providing that commission shall conduct affairs of bank and retain possession of its assets for sufficient time to make examination of its affairs
and dispose thereof as provided by law, requiring commission within
reasonable time to determine whether to operate bank as " going concern "
under section 4 or to liquidate it through receivership under section 5,
and, only during such preliminary period are bank's assets immune from
execution or attachment, even if statute be construed as prohibiting
enforcement of judgment by execution of attachment during entire period
of operation of bank as a "going concern." (Ib.)
Corporations—Appointment of receiver does not prevent actions against corporation, except as such actions are enjoined, or as they affect receiver's
(IT. S. C. 0. A. 1927.) Corporate existence of corporation is not affected
by the appointment of a receiver of its property, and corporation remains
subject to actions at law to the same extent as if no receiver had been
appointed, except as such actions may be restrained or enjoined, in
receivership proceedings, and no action can be maintained in any way
affecting or embarrassing receiver in possession of the property of the
corporation to which his receivership entitles him. (Ib.)
EXCHANGE
p
Cross references:
age
Foreign branches
157
An obligation in terms of currency of a country takes the risk of currency
fluctuations.
(IT. S. Sup. 1926.) An obligation in terms of the currency of a country
takes the risk of currency fluctuations and whether creditor or debtor
profits by the change the law takes no account of it. In an action brought
here on a debt arising from a deposit made in Germany and payable
there on demand, in marks, it is erroneous to translate the amount due
into dollars at the rate of exchange existing when demand was made,
the mark having depreciated thereafter. (7 Fed. Rep., 2d series, 330,
reversed.) (Deutsche Bank Filiale Nurnberg v. Humphrey, 272 U. S.
R. 517.)
Because of absence of privity, buyer from one who had had letter of credit
issued for payment of same article could not maintain action for money
received against the bank, paymg contrary to instructions.
(IT. S. C. C. A. 1927.) Plaintiff, buyer of coal from B, who had contract
for purchase thereof and through a Swedish bank had had letter of
credit issued by defendant bank on account of B for payment thereof,
could not maintain action for money had and received, though, unknown
' to defendant, plaintiff advanced the money to the Swedish bank for
payment on B's purchase of the coal, even if payment by defendant to the
one from whom B bought, and to whom the letter of credit was issued,
was not in accordance with instructions; the letter of credit being a
distinct contract from the underlying contracts of sale, and there being
no privity between plaintiff and defendant. (Kunglig Jarnvagsstyrelsen
v. National City Bank of New York et al., 20 Fed. Rep., 2d series, 307.)
Buyer under c. i. f. contract, having accepted documents furnished by seller, on
which he was paid by bank, and given notice of affirmance, can not thereafter
claim it did not receive proper documents, and on that theory recover of
seller as for money had and received.
(IT. S. C. C. A. 1927.) Where buyer under c. i. f. contract accepted unconditionally the documents furnished by seller, on which he was paid by
bank, and gave notice of affirmance of the transaction to the bank, buyer
can not thereafter claim that it did not receive the proper documents
on which seller was to be paid, because among the papers was a brokers'
certificate of insurance, instead of an insurance policy, and on that
ground recover of the seller as for money had and received. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

157

Principal and agent. For affirmative of agent's contract, with consequent liabil>
ity, it is enough that principal intentionally does acts constituting affirmance.
(U. S. C. 0. A. 1927.) Principal, intentionally doing acts which constitute
affirmance of agent's contract, assumes liability, even if not intending
to do so; actual willingness to assume consequences of the affirmance
being unnecessary. (Ib.)
Sales. Under contract of sale of coal, seller held entitled to deliver the limited
amount per month for the part of si® months after the raising of government
embargo remaining after withdrawal of railroad service order against
shipment.
(U. S. G. 0. A. 1927.) Under contract for sale of 150,000 tons of coal for
shipment to foreign country, providing that shipments on this contract
are to begin within 30 days after raising of Government embargo, and
to be completed within six months thereafter, they to be subject to strikes
and government restrictions, and to be approximately 30,000 tons per
month; embargo being lifted May 1, but a railroad service order forbidding
shipments on account of strike being thereafter issued, and not withdrawn, September 17, seller was entitled thereafter to deliver 30,000 tons
in September and that amount in October, but no more then or later. (Ib.)
Sales. Contract for sale of coal of specific kind held not changed as to subsequent shipments by shipment, in emergency and on permission, of other
hind.
(U. S. C. C. A. 1927.) Contract for sale and shipment of coal of a certain
specified kind is not changed as to subsequent shipments by a shipment
on one occasion, in an emergency and on permission obtained by cable,
of a different kind. (Ib.)
Letter of credit covering shipment by steamer " sailing during first half of
November" held to require that steamer break ground during that period.
(U. S. O. O. A. 1927.) Letter of credit, covering sugar to be shipped
"by steamer * * * sailing during the first half of November," held
to require the ship to actually break ground during that period, as
against claim that it was sufficient if it was expected or scheduled to
leave within such time. (Commercial Union of America (Inc.) v.
Anglo-South American Bank (Ltd.), 16 Fed. Rep., 2d series, 979.)
Letter of credit, construed as requiring shipment on steamer scheduled to sail
before certain time, held not complied with.
(U. S. C. C. A. 1927.) Letter of credit, covering sugar to be shipped
"by steamer * * * sailing during the first half of November," if
construed only to require that steamer be expected or scheduled to sail
within such period, held not complied with by letter showing only that on
November 4th the steamer was expected to sail on the 13th. (Ib.)
Cross references:
Exchange

FOREIGN BRANCHES

Page
156

Plaintiff, depositing money with national bank to open account m Russian
branch, contracted only with national bank, to be carried out in part by
agency of branch.
(N. Y. Sup. 1927.) Where plaintiff deposited with New York national
bank money for purpose of opening an account in Russian branch, and
received therefor receipt that money paid represented cost of certain
number of rubles to be transferred to Russian branch to open plaintiff's
account, there was only one contract made with bank in New York, to
be carried out in part by agency of Russian branch, and not separate
contract with Russian branch. (Sokoloff v. National City Bank of New
York, 224 N. Y. Supp. 102.)




158

REPORT OF THE COMPTROLLER OF THE CURRENCY

Deposit of dollars with defendant hank to open account in Russian branch
created debtor-creditor relationship, with Russian legal currency payable on
demand at branch.
(N. Y. Sup. 1927.) Where plaintiff deposited American dollars with defendant bank, for purpose of opening an account in Russian branch
for equivalent amount in Russian rubles, usual relation of debtor and
creditor arose, with exception that money was payable in legal currency
of Russia at branch. (Ib.)
Plaintiff, depositing money in defendant bank to open account in Russian
branch, could only demand payment in Russia where\ bank was impliedly
obligated to maintain branch.
(N. Y. Sup. 1927.) Where plaintiff deposited money with defendant bank
to open account in Russian branch, where money was to be paid on demand in Russian legal currency, plaintiff could not demand payment
elsewhere, and obligation on bank to maintain branch in Russia was
necessarily implied. (Ib.)
Branches of parent bank, though separate entities, are subject to supervision
of parent bank which owns their property, and is liable 1
for their debts.
{Federal reserve act, sec. 25 (12 U. 8. C. A. sees. 601-605).)
(N. Y. Sup. 1927.) Where bank maintain branches, each branch becomes
separate business entity, with separate books of account, and depositor
in one branch can not issue checks or drafts on other branch, or demand
payment from such other branch, in view of Federal reserve act, section
25*(act Dec. 23, 1913, c. 6, 38 Stat. 273 (12 U. S. C. A. sees. 601-605)),
but, when considered with relation to parent bank, branches are not
independent agencies, but subject to supervision of parent bank which
owns their property and assets, and is ultimately liable for debts of
branch. (Ib.)
Relations between parent and branch bank was not altered by regulations in
Russia for privilege of conducting Russian branch.
(N. Y. Sup. 1927.) Relation of parent bank in New York to branch bank
in Russia is not altered by fact that, for privilege of doing business in
Russia, parent bank was required to take out charter for Russian branch
and submit to certain regulations in Russia as to method of conducting
business. (Ib.)
New York bank, opening account in Russian branch for depositor, became liable
to depositor under New York contract on closing Russian branch.
(N. Y. Sup. 1927.) Where New York national bank contracted with depositor to open account in branch bank in Russia for amount paid in
New York, New York bank was subject to Russian regulations so long
as it conducted its business in Russia, but became liable to depositor
under contract made in New York when it closed its Russian branch.
(Ib.)
Transfer of depositor's account by defendant bank's Russian branch, remained
executory until money was available at place where transferred, and could
be revoked prior thereto.
(N. Y. Sup. 1927.) Where depositor, having an account in Russian branch
of New York national bank, directed branch bank to transfer balance to
credit of himself and credit society, credit on books of branch bank to
account of its agent for purpose of effecting transfer was not a transfer
of money to agent which could be applied to account of defendant, but
transaction remained merely executory until money actually became
available to depositor in credit society, and depositor could revoke order
for transfer prior to actual transfer of money. (Ib.)
Depositor, telegraphing bank to hold funds immediately on discovering transfer
had not been made, held to have promptly rescinded order for transfer.
(N. Y. Sup. 1927.) Where depositor directed bank to transfer account,
and transfer was to have been made by telegraph, depositor, on learning
that transfer had not been made, promptly rescinded order by telegraphing bank to hold funds at disposal of another. (Ib.)
1

U. S. C. A. United States Code annotated.




REPORT OF THE COMPTROLLER OF THE CURRENCY

159

Depositor directing general depository to transfer credit through another bank,
sustained relation of principal and agent to depository.
(N. Y. Sup. 1927.) Where depositor directed his general depository to
transfer credit through another bank to credit society, general depository
was agent of depositor to effect transfer, and relation between depositor
and depository was that of principal and agent, and not debtor and
creditor. (Ib.)
Bank through whom depositor instructed depository to transfer credit held agent
of depositor's bank for transmission of credit.
(N. Y. Sup. 1927.) Where depositor directed bank holding his account to
transfer account through another bank, such other bank was merely an
agent of depositor's bank for transmission of credit, and had no right to
appropriate credit to anything but specific purpose intended. (Ib.)
Evidence did not shoiv that bank designated by depositor through which credit
should be transferred was depositor's agent.
(N. Y. Sup. 1927.) In action by depositor against bank on contract to
purchase Russian rubles, proof that depositor directed branch bank in
Russia to transfer account to another through a certain bank, and that
defendant had balance in another bank through which it could have
transferred credit, did not prove that but for depositor's instruction
branch bank would have transmitted credit through another bank, so as
to make bank specified by depositor his agent. (Ib.)
Direction by branch bank to another bank to transfer account, never executed
and canceled prior to actual transfer of credit, held not payment of debt to
depositor.
(N. Y. Sup. 1927.) Where depositor established account in defendant's
branch bank in Russia, and instructed branch bank to transfer account
through another bank to credit society, direction by branch bank to
agent bank to transfer credit, which was never executed, and which
depositor canceled prior to time when depositor was actually given credit
in society, did not constitute payment of debt by branch bank. (Ib.)
"Payment" of debt payable in money requires delivery by debtor to creditor of
money or other valuable thing to extinguish debt.
(N. Y. Sup. 1927.) To constitute " payment " of debt payable in money,
there must be delivery by debtor, or representative to creditor or his
representative of money or other valuable thing for purpose of extinguishing debt, which is received by creditor for same purpose. (Ib.)
Agent bank, appointed by Russian branch of defendant bank for transmission
of credit, was not entitled to credit on books of transmitting bank until credit
was actually established.
(N. Y. Sup. 1927.) Where Russian branch of defendant bank directed
another bank as agent to transmit credit for one of its depositors, agent
bank was not entitled to credit on books of transmitting bank until it had
established credit to depositor's account, and, when depositor revoked
order for transfer, agent bank was entitled to cancel credit established on
books of transmitting bank. (Ib.)
Purchase from bank of check or draft on another bank is executed transaction.
(N. Y. Sup. 1927.) Purchase from bank of check or draft on another bank
is a completed transaction. (Ib.)
Order for transfer of credit under Giro system in Russia is executory until
credit is actually established.
(N. Y. Sup. 1927.) Order for transfer of credit under Giro system prevailing in Russia is executory, and not executed, and transfers nothing
to person seeking transfer of credit until credit is actually established.
(Ib.)
Defendant bank's Russian branch, on being informed that transfer of depositor's
account had not been consummated, should have recredited depositor's account.
(N. Y. Sup. 1927.) Where Russian branch of defendant bank was. instructed by depositor having account in branch bank to transfer account
to another, branch bank, on being informed that transaction had not been
consummated, should have recredited depositor's account. (Ib.)




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REPORT OF THE COMPTROLLER OF THE CURRENCY

Chech or draft credited to depositor's account, not in fact paid, can he charged
"bach to depositor's account.
(N. Y. Sup. 1927.) Where check has been credited to depositor's account
sp that he could draw against it, or where draft is forwarded for collection and credited as paid, bank may charge check or draft back to depositor's account if check or draft is not in fact paid. (Ib.)
Until order for transfer of credit is finally consummated, entry prior to execwtion of transaction which fails should be corrected.
(N. Y. Sup. 1927.) Where depositor orders transfer of credit from one
bank to another, until transaction is finally consummated and cash or
equivalent made available, any entry in advance, made on supposition
that transaction will be fully executed, is erroneous, and should be corrected, if it later transpires that thing on expectation of which entry
was based had not happened. (Ib.)
Defendant bank's Russian branch directing another bank to transfer credlit of
depositor held not prejudiced, where transaction remained unexecuted.
(N. Y. Sup. 1927.) Where defendant's branch bank in Russia was instructed by depositor to transfer his account through another bank, and
directed other bank to make transfer, branch bank was not deprived of
anything of value by reason of transaction, where transfer was never
consummated, and no settlement was made between branch bank and bank
appointed as agent for transmission. (Ib.)
Bank's relation to depositor is that of debtor and) creditor,
(N. Y. Sup. 1927.) Relation between bank and depositor is that of debtor
and creditor. (Ib.)
Demand by depositor for payment need not be made where bank disclaims liability or demand would be futile.
(N. Y. Sup. 1927.) Rule that no cause of action could accrue by depositor
against bank without previous demand made at banking office and during
banking hours does not extend to cases where bank has disclaimed liability, or where for any other reason demand would manifestly be futile.
(Ib.)
Presentation of check to bank for payment was not condition for depositor's
action against bank, refusing payment to depositor's sister as directed.
(N. Y. Sup. 1927.) Where depositor, immediately on discovering that
transfer of credit had not been made by bank as directed, wrote and telegraphed bank that transfer had not been made, requesting bank to hold
funds at disposal of his sister, and bank wrote plaintiff that it had acted
on first instruction, and could not hold funds as directed, and further
refused payment to depositor's sister on her demand for funds, it was
not necessary for the depositor's sister to draw check signed by depositor
and present it for payment in order for depositor to recover against
bank. (Ib.)
Demand by depositor during time when Russian branch of defendant bank was
taken by soviet authorities was not necessary as condition for action to recover deposit, since futile.
(N. Y. Sup. 1927.) Where depositor, immediately on discovering that
transfer of credit had not been made by Russian branch of defendant
bank as directed, wrote and telegraphed bank that transfer had not been
made, requesting bank to hold funds at disposal of his sister, and bank
was thereafter taken over by soviet authorities, demand for payment
during such time would have been futile, and demand in addition to letter
presented to bank requesting payment of deposit to depositor's sister
was unnecessary as condition of depositor's action to recover money
deposited. (Ib.)
Action to recover deposit did not require further demand than letter requesting
bank to pay depositor's sister, though bank wrote depositors to withdraw
deposits.
(N. Y. Sup. 1927.) Where bank refused to pay deposit to depositor's sister
as directed by depositor after his revocation of order to transfer credit,
letters written by bank to depositors, urging them to withdraw deposits,
did not affect depositor's claim, and demand for payment in addition to
letter presented by bank requesting deposit to be paid to depositor's sister
was
 unnecessary for action to recover deposit. (Ib.)


REPORT OF THE COMPTROLLER OF THE CURRENCY

161

Recovery of deposit in Russian branch of defendant bank, confiscated by Russian authorities, could not be defeated under Russian law, where damages
were not claimed.
(N. Y. Sup. 1927.) In action to recover deposit in Russian branch of defendant bank, law of Russia that recovery can not be had for breach of
contract where performance is prevented by superior force was not defense to action where no damages were claimed and interest was
waived. (Ib.)
Inability of depositor in Russian branch of defendant bank to recover debt m
Russia is not defense but element of Supreme Court's jurisdiction.
(N, Y. Sup. 1927.) In action to recover deposit in Russian branch of defendant bank, fact that depositor can not recover his debt in Russi.i U not
defense to action, but rather an element of jurisdiction of Supreme
Court. (Ib.)
Depositor's statement electing to recover rubles transferred to Russian branch
of national bank was election to sue on breach of contract raiher than
rescission.
(N. Y. Sup. 1927.) Where complaint by depositor against national bank
was equivocal, in that it could not be ascertained whether depositor was
proceeding on theory of rescission of contract, whereby deposit was
transferred to Russian branch, or on theory of breach of contract, statement by plaintiff that he elects to rest upon claim to recover amount of
Russian rubles sued for at valuation of rate of exchange prevailing on
day of breach of contract was in effect an election to recover on theory
of breach of contract. (Ib.)
Whether depositor in Russian branch of defendant bank, was entitled to recover proportionate part of dollars, or value of rubles on deposit, held question
of law for referee.
(N. Y. Sup. 1927.) In action by depositor to recover deposit transferred
to Russian branch of defendant bank, question whether depositor is entitled to recover proportionate part of dollars for which lie has not been
repaid in rubles, or whether he is entitled to recover only value of rubles
in his deposit, is one of law for referee. (Ib.)
Bank sued to recover deposit could require depositor to elect between inconsistent remedies of recovery, based on rescission of contract or damages for
breach.
(N. Y. Sup. 1927.) In action by depositor against national bank to recover
deposit transferred to Russian branch, bank had right to demand that
depositor elect between inconsistent rights of action for recovery based
on rescission of contract for failure of consideration, or for damages for
breach of contract. (Ib.)
Creditor on foreign cause of action is entitled to relief obtainable in foreign
courts, but may obtain relief under local laws where rights arose under such
laws.
(N. Y. Sup. 1927.) Where cause of action arises exclusively in foreign
country, and jurisdiction of local courts is secured merely because debtor
has been served, or his property attached in state of forum, local courts
will only grant that relief that creditor could have secured in courts of
foreign country, but, where jurisdiction of local courts is sought to enforce rights arising under local laws, relief will be granted as of time
when liability accrues under local laws. (Ib.)
National bank held liable for value in dollars of rules on deposit in Russian
branch at date of removing branch after refusing payment.
(N. Y. Sup. 1927.) In action by depositor against national bank to recover
deposit transferred to Russian branch, depositor held entitled to recover
equivalent of value of rubles in dollars at time they should have been
paid, when national bank removed branch from Russia after refusing
to pay depositor amount of rubles on deposit after demand. (Ib.)




162

REPORT OF THE COMPTROLLER OF THE CURRENCY

GUARANTY
Cross references:
State guaranty laws
155
Evidence—Evidence of agreement for application of proceeds on guaranteed
account held not to vary guaranty,
(U. S. G. C. A. 1927.) Evidence that, at time of execution of written
guaranty of liabilities of logging company, guarantor was given bill of
sale of certain property belonging to company, with understanding that,
on sale thereof, proceeds would be applied to reduce guaranty, held not
parol testimony altering terms of written contract of guaranty, since only
effect of parol evidence was to show that, before executing guaranty,
guarantor had received security to protect himself against loss. (Canadian Bank of Commerce v. Berg, 17 Fed. Rep., 2d series, 867.)
Bank held liable to guarantor for misapplication by officer interested in logging
company of proceeds of company property sold under directions of guarantor
holding property as security.
(U. S. C. C. A. 1927.) Where bank officer, who was also interested in
logging company, sold certain trucks of logging company under instructions of person holding bill of sale as security for guaranteeing company's
liabilities, lower court's holding that bank officer, in selling trucks under
directions that proceeds were to be applied on the guaranty, was acting
in behalf of bank, and not for logging company, as bearing on bank's
liability to guarantor for misapplication of proceeds to general indebtedness of company, held not erroneous. (Ib.)
Evidence held to show that national bank guaranteed payment of paper of
customer of which its vice president was official.
(Sup. Col. 1927.) Evidence held to show that plaintiff national bank
guaranteed payment of customer's notes, on which defendant bank
loaned money at plaintiff's request, notwithstanding vice president of
plaintiff bank was also official of borrower. (Stockyards Nat. Bank of
Denver v. Brown, 255 Pac. Rep. 624.)
National bank's guaranty of payment of certain paper, though ultra vires,
rendered it liable to extent of benefit derived from loans. (National banking
act (U. 8. Gomp St. sec. 9657 et seq.).)
(Sup. Col. 1927.) National bank's guaranty of payment to another bank
of money loaned by latter on paper coming through former, though ultra
vires under national banking act (U. S. Comp. St. 9657 et seq.), rendered
such bank liable to extent of benefit derived, where overdraft was wiped
out by loan. (Ib.)
INSOLVENCY AND RECEIVERS
Page
COMPTROLLER HAS EXCLUSIVE JURISDICTION OVER RECEIVERS
ACTIONS BY RECEIVERS :
RECEIVERS' SUITS TO RECOVER ASSETS
SUIT BY CREDITOR OF NATIONAL BANK AFTER INSOLVENCY AND BEFORE APPOINTMENT OF RECEIVERS
PROOF AND PAYMENT OF CLAIMS :
CREDITOR OF INSOLVENT BANK HOLDING COLLATERAL SECURITY IS E N TITLED TO PROVE CLAIM FOR TOTAL DEBT AGAINST INSOLVENT DEBTOR
AND TO DIVIDENDS THEREON UNTIL DEBT IS PAID
PREFERENCES IN INSOLVENCY
RIGHTS OF PERSONS MAKING DEPOSIT AFTER INSOLVENCY
DEPOSITOR, WHO CHECKED OUT PROCEEDS OF NOTES DISCOUNTED AT BANK
BEFORE IT FAILED, HELD NOT ENTITLED TO POSSESSION OF DISHONORED
NOTES, BECAUSE OF BANK'S INSOLVENCY WHEN NOTES WERE DISCOUNTED..
DEPOSIT OF SCHOOL FUNDS
INSOLVENT STATE BANKS :
ALABAMA
IDAHO
NEW HAMPSHIRE
SOUTH DAKOTA




163
164
164

165
166
167
168
168
169
169
170
171

REPORT OF THE COMPTROLLER OF THE CURRENCY

163

COMPTROLLER HAS EXCLUSIVE JURISDICTION OVER RECEIVERS

United States—United States officials, in administering duties, are accountable
to court only for fraud or errors of law in executing official acts.
(U. S. D. C. 1927.) Officials of the United States, when engaged in administering the duties of the office to which they are assigned, are accountable
to court only in event of fraud or errors of law in matter of execution
of their official acts, and otherwise will not be disturbed by the courts.
(Altman v. McClintock et al., 20 Fed. Rep., 2d series, 226.)
Receiver of national hank is not amenable to accounting, unless exceptional
situation justifies such relief. (12 U. 8. C. A. sec. 198.) 1
(U. S. D. C. 1927.) Receiver of national bank held an officer of the United
States, acting under express direction of the Comptroller of Currency,
pursuant to 12 U. S. C. A., section 198, and, although he may be in a sense
a trustee for creditors of defunct bank, he is not amenable to accounting
to his cestui que trust, except if situation should arise wherein court
would feel justified in granting such relief. (Ib.)
Comptroller of Currency has exclusive authority in matter of necessary expense
in administration of receivership for national hank. {National hanking act
(12 U. 8. 0. A.).) 1
(U. S. D. C. 1927.) Administration of receivership of a national bank is
committed to the Comptroller of Currency by the national banking act
(12 U. S. C. A.), and he has as much authority in the matter of incurring and authorizing necessary expense as would account in administering a receivership before it. (Ib.)
Depositors held not entitled to discovery to determine right of action against
officers under petition for accounting as to expenses of receiver of national
hank,
(U. S. D. C. 1927.) Where depositors sued to secure accounting from
receiver of national bank, and discovery sought, in nature of examination
of books, was for purpose of determining right of action against officers
and directors of bank, while accounting sought related to matter of
expenses of receivership, a situation is not presented entitling plaintiff
to accounting prayed for, since discovery would have little to do with
accounting of receiver of own official acts, and in order to warrant relief
discovery must be in aid of general relief sought. (Ib.)
Discovery must he in aid of general relief.
(U. S. D. C. 1927.) A discovery must be in aid of general relief sought.
(Ib.)
Receiver of national hank is officer under comptroller, and assets are not in
custodia legis (Comp. St. § 9821).
(U. S. C. C. A. 1927.) Receiver of a national bank, appointed by the comptroller under Revised Statutes, section 5234 (Comp. St. § 9821), is his
officer, and not an officer of the court, nor are its assets, while in his
hands, in custodia legis. (Hulse v. Argetsinger et al., 18 Fed. Rep., 2d
series, 944.)
No appeal lies in proceeding by receiver of national hank to compound liability
of directors (Comp. St. § 9821).
(U. S. C. C. A. 1927.) Since proceeding under Revised Statutes, section
5234 (Comp. St. § 9821), by receiver of national bank, to compound liability of directors, is not judicial but administrative in character, no
appeal lies therefrom. (Ib.)
Receiver of national banlc, in proceeding to compound liability of directors, is
not subject to court's supervision (Comp. St. § 9821).
(U. S. C. C. A. 1927.) Receiver of national bank, in proceeding under
Revised Statutes, section 5234 (Comp. St. § 9821), for compounding
liability of directors, is not subject to court's supervision, except as prescribed by statute, and although he must have court's consent to compound debts or to sell assets, that is merely condition on powers which
are otherwise like those of the bank itself, and, after getting leave to
compound, he may do as he wills. (Ib.)
1

U. S. C. A. United States Code annotated.




164

REPORT OF THE COMPTROLLER OF THE CURRENCY
ACTIONS BY RECEIVERS
RECEIVERS SUIT TO RECOVER ASSETS

Trusts—Action may be brought in equity in behalf of insolvent bank to impress
funds withdrawn by depositor with trust.
(U. S. D. 0. Iowa.) Action in behalf of insolvent bank to impress a trust
on certain funds withdrawn by depositor may be brought in equity,
with authority in court, in case proof showed money should be impressed
with such trust, to make order requiring it to be turned over in same
manner as if other specific assets of bank were involved. (Sioux Falls
Trust & Savings Bank et al. v. Homer W. Johnson Co. et al., 20 Fed.
Rep., 2d series, 693.)
Trusts—Sum withdrawn by depositor shortly before bank closed as legitimate
banking transaction can not be imposed with trust in favor of bank.
(U. S. D. C. Iowa.) Where depositor, during time immediately preceding
bank's liquidation, continued regular business therewith and made deposits of approximately $13,000 while bank was open and presumably doing
a legitimate business, with no knowledge that bank was not entirely
solvent, $7,000 withdrawn by depositor shortly before bank closed as a
legitimate banking transaction in an ordinary way can not be impressed
with a trust in action in behalf of such insolvent bank. (Ib.)
Trust s^-Procee ding to impress trust on funds withdrawn by depositor before
bank's insolvency must fail when funds were used in improvement of prop*
erty subsequently transferred to bank.
(U. S. D. C. Iowa.) Where money withdrawn by depositor shortly before
closing of insolvent bank was used in payment of improvement of property subsequently transferred to bank during liquidation, proceeding in
equity to impress a trust on such fund must fail, in that it would be
necessary to follow such funds, which at time of action constituted
property already in bank's possession. (Ib.)
SUIT BY CREDITOR OF NATIONAL BANK, AFTER INSOLVENCY AND BEFORE APPOINTMENT OF RECEIVER

Creditor of national bank, suing after insolvency and before appointment of
receiver, held not entitled to lien under State law creating lien on lands of
judgment debtor.
(TJ. S. C. C. A. 1927.) Under Revised Statutes, United States, sections 5236,
5242 (U. S. Comp. St. sees. 9823, 9834), forbidding establishment of lien
against a national bank, creditor bringing suit after bank went into
control of examiner, but before appointment of receiver, held not entitled
to lien, under Compiled Statutes, Nebraska, 1922, section 8986, creating a
lien on lands of judgment debtor from date of judgment, since it is not
the appointment of a receiver which fixes right of creditors, but the
date of insolvency. (Steele, County Treasurer, v. Randall et al., 19
Fed. Rep., 2d series, 40.)
Insolvency is unaffected by intention of hopes of persons affected.
(U. S. C. C. A. 1927.) Insolvency is a condition unaffected by intentions
of hopes of persons affected. (Ib.)
National banks are "Federal instrumentalities."
(U. S. C. C. A. 1927.) National banks are "Federal instrumentalities,"
and controlled by Federal statutes relating thereto. (Ib.)
Receiver of national bank is an " agent and officer of United States."
(U. S. C. C. A. 1927.) Receiver, appointed for national bank under Revised
Statutes, sections 5234-5236 (Comp. St. sees. 9821-9823), is not in any
sense such an official as receiver appointed by court of equity, but is an
administrative officer selected by comptroller, and is an " agent or
officer of the United States/' (Ib.)




KEPORT OF THE COMPTROLLER OF THE CURRENCY

165

PROOF AND PAYMENT OF CLAIMS
CREDITOR OF INSOLVENT BANK HOLDING COLLATERAL SECURITY IS ENTITLED TO
PROVE CLAIM FOR TOTAL DEBT AGAINST INSOLVENT DEBTOR AND TO DIVIDENDS
THEREON UNTIL DEBT IS PAID

Creditor of insolvent bank, holding collateral security, is entitled to claim for
total debt against insolvent debtor and to dividends thereon until debt is
paid,
(U. S. C. C. A. 1927.) Where creditor of insolvent bank holds collateral
security for payment of its debt, it is entitled to allowance of claim for
full amount of debt and to payment of dividends on entire debt, pro
rata with general creditors, until dividends, together with amount realized from security, equal full amount of debt. (United States Fidelity
& Guaranty Co. v. Centropolis Bank of Kansas City, Mo., et al., 17
Fed. Rep., 2d series, 913.)
County held entitled to total claim against insolvent depository, and to dividends thereon until such dividends, with a/mount paid by surety, equaled
deposit.
(U. S. C. C. A. 1$27.) Where county had deposit in insolvent bank partially secured by sureties, it is entitled to allowance of claim for full
amount of deposit, and to receive dividends thereon until dividends,
together with amount paid by sureties, equal full amount of deposit.
(Ib.)
Principal and surety—BanWs contract to indemnify surety guaranteeing
county deposits held legal and enforceable contract.
(U. S. C. C. A. 1927.) Contract of indemnity, entered into by bank with
surety company executing suret3^ bond guaranteeing county deposits, not
being in contravention of any provision of law or public policy of State,
held a legal and enforceable contract. (Ib.)
Principal and surety—Implied contract that principal wilt indemnify surety
for payment made to creditor arises when suretyship is made.
(U. S. C. C. A. 1927.) When a contract of suretyship is made, there
arises, in absence of express agreement, an implied contract that principal will indemnify surety for any payment latter may make to creditor
in compliance with contract of suretyship, and such implied contract,
arises when suretyship is made, and not when payment is made by surety
thereunder. (Ib.)
Surety guarantying county deposits in insolvent bank held to have u claim"
for payment thereunder by virtue of contract of indemnity. (Rev. St. Mo.
1919, §§ 11700, 11702, 11713, 11715-11724, Laws, Mo. 1921, p. 394.)
(U. S. C. C. A. 1927.) Surety guarantying county deposits in insolvent
bank, after paying its obligation under bond, held to have a " claim "
against bank, within meaning of Revised Statutes, Missouri, 1919, sections
11702, 11713, 11715-11722, by virtue of its contract of indemnity, and
mere fact that claim accrued under bond after bank was closed and
placed in process of liquidation, pursuant to Laws, Missouri, 1921, page
394, and Revised Statutes, 1919, sections 11700-11724, did not prevent
allowance of claim. (Ib.)
Subrogation—Surety liable for portion of debt held not entitled to subrogation,
unless he pays whole debt, or it is otherwise satisfied.
(U. S. C. C. A. 1927.) Surety, who is liable only for part of debt, does not
become subrogated to collateral, or to remedies available to creditor,
unless he pays whole debt, or it is otherwise satisfied. (Ib.)
Principal and surety—Suretyship contracts should be interpreted according to
terms, given effect in their plain, ordinary, and popular sense.
(U. S. C. C. A. 1927.) Contracts of suretyship should be interpreted like
other classes of contracts, according to sense and meaning of terms which
parties have used, and those terms should be taken, understood, and
given effect in their plain, ordinary, and popular sense. (Ib,)



166

HEPORT OF THE COMPTROLLER OF THE CURRENCY

County's claim against insolvent bank for deposits held not entitled to priority
over claim of surety under indemnity contract.
(U. S. O. C. A. 1927.) Where surety has discharged its liability under
bond partially guarantying county deposits in insolvent bank, claim of
county against bank on its contract of deposit is not entitled to priority
over claim of surety by virtue of contract of indemnity. (Ib.)
Depositor of bonds converted and pledged by bank held entitled to recover of
receiver on trust fund theory only balance of proceeds above pledgee's claim.
(U. S. C. C. A. 1927.) Plaintiff, who left bonds at a national bank for
safe-keeping, can not recover the value thereof of its receiver on the
theory of a trust fund, because the bank delivered them with others to
the State treasurer, to secure deposits made by him, and he, on receiver
being appointed, sold all the bonds and from the proceeds satisfied his
claim, there being no augmentation thereby of the funds of the bank:
but plaintiff can, on the trust fund theory, recover at most only the
balance of the proceeds of the pledged bonds in excess of the treasurer's
claim, which was by him paid and delivered to the receiver, and if
some of the other pledged bonds belonged to other individuals, and were
also converted by the bank, then plaintiff can recover only her pro rata
of the balance. (Dudley et al. v. Richards, 18 Fed; Rep. 2d series, 876.)
Bank, converting and pledging bonds of depositor, can not be assumed to have
owned all others pledged.
(U. S. C. 0. A. 1927.) National bank having converted bonds deposited with
it for safe-keeping and pledged them with others, it can not be assumed
that all the other bonds belonged to the bank, relative to the right of
the special depositor to recover of the bank's receiver, as a trust fund,
all the balance of the proceeds of the pledged bonds over and above the
pledgee's claim. (Ib.)
PREFERENCES IN INSOLVENCY

Trusts—To maintain claim for preferential payment over general creditors of
insolvent, cestui que trust must clearly prove that his property or its proceeds went into specific fund or property m hands of receiver.
(U. S. C .C. A. 1926.) It is indispensable to the maintenance by a cestui
que trust of a claim for preferential payment over general creditors
out of the proceeds of the estate of an insolvent that clear proof be
made that the cestui que trust's property, or its proceeds, went into a
specific fund, or into a specific identified piece of property, which came
to the hands of the receiver or holder of the insolvent's property. (Farmers National Bank of Burlington, Kans., et al. v. Pribble, 15 Fed. Rep.,
2d series, 175.)
Proof that property of cestui que trust or its proceeds was used by insolvent
bank or its receiver to pay indebtedness of insolvent does not warrant preferential payment to cestui over general creditors.
(U. S. C. C. A. 1926.) Proof that such property or its proceeds was used
by the insolvent or its receiver or holder to pay the indebtedness of the
insolvent,, or to diminish its liabilities warrants no such preferential
payment. (Ib.)
Where check given to pay draft left with bank for collection was used with
other checks and cash to clear with other bank, owner of draft was not
entitled to preference agamst bank's receiver.
(U. S. D. C. 1926.) Where draft left by plaintiff with bank for collection
was paid by check on another bank, which check, with others and cash,
was used in clearing with other bank, held that, since check did not
bring cash into bank, plaintiff was not entitled to have trust declared
against bank's receiver therefor, but was entitled to rights of general
creditor only. (Smith Reduction Co, v, Williams, 15 Fed. Rep., 2d series,
874.)




KEPOKT OF THE COMPTROLLER OF THE CURRENCY

167

Owner of draft left for collection held entitled to recover proceeds, without
interest, icithoiit 'waiting settlement of estate, where bank's receiver admitted
that proceeds as trust funds came into his possession.
(U. S. D. C. 1926.) Where bank's receiver admitted that proceeds of collection of draft were in bank's vaults as trust funds when it failed, and
were part of assets in his hands, owner of draft was entitled to recover
proceeds, without interest, and without being required to wait until
estate was settled. (Ib.)
When payments iciXl be presumed not to be from trust fund.
(U. S. D. C. 1926.) As respects priority, where bank holds funds in vaults
under express trust, payments by it will be presumed to have been from
other funds. (Marshburn v. Williams, 15 Fed. Rep., 2d series, 589.)
Proceeds of bonds converted by bank, by placing them to its credit in another
bank mingling them with other deposits therein, held inextricably intermingled with other assets of converting bank, so that status of oivner of bonds
was that of general creditor.
(U. S. D. C. 1926.) Proceeds of bonds converted by bank, by placing them
to its credit in another bank, mingling them with other deposits therein,
and checking against them in favor of other banks, held inextricably intermingled with other assets of converting bank, so that status of owner of
bonds was that of general creditor; there being no presumption that
check to another bank embraced part of fund, merely because drawing
bank, at time of failure, had balance in such other bank. (Ib.)
EIGHTS OF PERSONS MAKING DEPOSITS AFTER INSOLVENCY

Transaction held not to make bank trustee of fund arising from sale of bonds
of depositor, and by her direction credited to account of correspondent bank.
(U. S. C. C. A. 1927.) Defendant owned Government bonds, which were
about to mature, and were on special deposit with a Cincinnati bank.
She arranged with a local bank in which she was depositor, for reinvestment, and sent an order to the Cincinnati bank to sell the bonds and put
the amount to the credit of the local bank, of which it was correspondent.
It did so, notifying defendant and the local bank of the amount credited
to its account " for use of " defendant. Held, that the qualifying words
meant no more than that the amount was for credit by the local bank to
defendant, and did not make the Cincinnati bank trustee of the fund,
and required to hold it for defendant on failure of the local bank.
(Marvin, Banking Commissioner of Kentucky, v. Martin, 20 Fed. Rep.,
2d series, 746.)
Amount remaining to credit of insolvent bank with its correspondent bank held
trust fund for depositor, whose deposit was received after insolvency.
(U. S. C. C. A. 1927.) The local bank being insolvent and knowing the
fact, when the money was deposited in its account, its receipt was fraudulent, and the bank held the deposit as trustee for defendant, and as
between them the amount which had remained continuously to its credit
with the Cincinnati bank, until it failed, not exceeding such deposit,
belonged to defendant. (Ib.)
Damages—Banking1 commissioner held Uable for interest mi trust fund withheld from< owner by litigation.
(U. S. C. 0. A. 1927.) Banking commissioner, as administrator of insolvent
bank, held liable for interest, as damages, on trust fund withheld from
owner by litigation. (Ib.)
71284°—28
12




168

BEPORT OF THE COMPTROLLER OF THE CURRENCY

DEPOSITOK, W H O CHECKED OUT PROCEEDS OF NOTES DISCOUNTED AT BANK BEFORE
IT FAILED, HELD NOT ENTITLED TO POSSESSION OF DISHONORED NOTES, BECAUSE
OF BANK'S INSOLVENCY W H E N NOTES WERE DISCOUNTED

Depositor, who checked out proceeds of notes discounted at bank before itfailed, held not entitled to possession of dishonored notes, because of bank's
insolvency when notes were discounted.
(U. S. D. C. 1926.) Where depositor indorsed and discounted notes to
bank, and his account was credited with proceeds, which he checked out
before bank failed, held, he was not entitled to recover possession of
notes, which were not paid at maturity because they were obtained when
bank was insolvent, to knowledge of its officers. (Bryant v. Williams,
16 Fed. Rep. 2d series, 159.)
Notes indorsed to bank without qualification, pn*oceeds being checked out by
depositor before bank failed, held property of bank, notwithstanding right to
charge back.
(U. S. D. C. 1926.) Where depositor indorsed notes; without qualification,
and discounted them at bank, and checked out proceeds credited to his
account, bank became owner of notes, and not mere agent for collection, notwithstanding it reserved right to charge back notes to depositor's
account, if not paid at maturity. (Ib.)
Rules of Federal and not of State courts apply.
(U. S. D. C. 1926.) In determining whether paper discounted at national
bank becomes property of bank, Federal courts apply rules of Federal
and not of State courts. (Ib.)
Custom of banks to charge back dishonored paper does not entitle depositor,
who receives full value, to demand surrender by bank of dishonored paper.
(U. S. D. C. 1926.) Custom of banks to charge back to depositor's account
dishonored paper, or implied agreement arising therefrom that it may
be so charged back, is merely a summary method of collection, and imposes no duty on bank, nor gives depositor, who indorses it to bank and
receives full value, right to demand that bank surrender it, if not paid
at maturity. (Ib.)
Bank's right to charge dishonored paper to depositor.
(U. S. D. C. 1926.) Bank's right to charge back to depositor's account dishonored paper is well settled, in view of custom. (Ib.)
When it is bank's duty to charge dishonored paper against depositor's account.
(U. S. D. C. 1926.) It is bank's duty to charge back dishonored paper
against depositor's account only where depositor is primarily liable, and
then only for protection of those secondarily liable. (Ib.)
Indorser has no right to set off deposit balance against receiver if principal
debtor is solvent.
(U. S. D. C. 1926.) Where receiver of insolvent bank seeks to enforce
liability of indorser on notes discounted at bank, indorser has no right
to set off deposit balance, if principal debtor is solvent. (Ib.)
Burden is on depositor to show that he ha$ no recourse against maker.
(U. S. D. C. 1926.) Burden is on depositor, suing bank's receiver, to
have deposit balance set off against depositor's liability as indorser on
notes, to show that he has no recourse against maker. (Ib.)
DEPOSIT OF SCHOOL FUNDS

Insolvent bank's indebtedness to school district is reduced by surety's payment
under Uability bond, and payment by receiver of dividends on full amount
held erroneous.
(U. S. D. C.) 1 Failure of receiver of insolvent bank to cancel amount of
indebtedness to school district to extent that it was reduced by surety
company in satisfaction of its liability on indemnity bond, and payment
of pro rata dividend on full amount to board of education held erroneous.
(American Surety Co. of New York v. National Bank of Barnesville,
Ohio, 17 Fed. Rep. 2d series, 942.)
x
The Federal Reporter does not give the month or year in which the case of The
American Surety Co. of New York v. National Bank of Barnesville, Ohio, was decided.
The preceding case in the Reporter is given as decided Mar. 4, 1927, and the following

case as decided on Dec. 9, 1925. The next case is given as decided Mar. 16, 1927.



REPORT OF THE COMPTROLLER OF THE CURRENCY

169

Subrogation—Surety, paying full bond liability in partial extinguishment of
debt, held not surrogated to rights of creditor in amount paid.
(U. S. D. C.) Surety company, by paying full liability under bond partially extinguishing debt of board of education against depository, held
not subrogated to rights of board of education to extent of amount paid
against bank, because total debt to board of education was not paid.
(Ib.)
Subrogation—"Subrogation"
is substitution of one person for another with
reference to lawful claim or right.
(U. S. D. 0.) " Subrogation," in its broadest sense, is substitution of
one person in place of another with reference to lawful claim or right,
and is frequently referred to as the doctrine of substitution. (Ib.)
Principal and surety—Surety has right of action against principal on indemnity
contract on paying liability under bond.
(U. S. D. C.) Surety, paying liability on bond, has right of action against
principal on indemnity contract indemnifying surety against loss in consequence of having executed bond. (Ib.)
INSOLVENT STATE BANKS
ALABAMA

Contract by officer to make good looses from continued operation, if bank were
allowed by State superintendent to remain open, held not invalid.
(U. S. C. C. A. 1927.) A contract by which an officer and director of a State
bank, in consideration of the bank being permitted to continue in business
for a stated time, obligated himself to the State superintendent of banks
to make good any loss to depositors or creditors by reason of such continuance, which contract, as construed by the parties, did not free the
bank from supervision by the banking department, held) not invalid as
requiring a suspension by the superintendent of his official duties. (Jackson, Supt. of Banks of Alabama, v. Keyser, In re Wilson, 18 Fed. Rep.,
2d series, 252.)
Officer of insolvent bank, held liable on contract to make good any loss to dopositors or creditors by^ reason of the bank, being permitted to continue in
operation for a stated time.
(U. S. O. C. A. 1927.) Where an insolvent bank, about to be closed by the
superintendent of banks, was permitted to continue in operation for a time
on an agreement by an officer and director to make good any loss to
depositors, or creditors by reason of such continuance, at the end of which
time it remained insolvent and was taken over for liquidation, and during
the period some who were depositors or creditors at its beginning were
paid in full, while the indebtedness to others remained the same, the latter
clearly suffered loss through the continued operation, for which the surety
was liable on his contract. (Ib.)
IDAHO

Motion to strike answer to suit by United States to recover deposits will be
denied when specifically denying that moneys were Government funds.
(U. S. D. C. 1927.) Where answer in suit by the United States to recover
postal and forestry funds deposited in State bank specifically denied that
funds belonged to United States, within meaning of Revised Statutes,
section 3466 (Comp. St., sec. 6372). providing for payment of debts in
full in case of insolvency, general motions to strike answers will be denied,
for the purpose of taking testimony to determine character of such funds.
(United States ex rel. Ray, U. S. Atty., v. Porter, Commissioner of
Finance of Idaho, 19 Fed, Rep., 2d series, 541.)




170

REPORT OF THE COMPTROLLER OF THE CURRENCY

That postal and forestry moneys were deposited im, names of officials would not
make mdebtedmess awy less indebtedness to United States.
(U. S. D. C. 1927.) Fact that postal and forestry funds were deposited in
names of postmasters, or drafts of bank were purchased therewith, and
not paid, would not make indebtedness of banks any less an indebtedness
to United States, within Revised Statutes, section 3466 (Comp. St., sec.
6372), since postmasters and forestry officials were authorized to receive
and deposit any public funds in banks and legal effect was that they were
deposited as public moneys. (Ib.)
United States in proceeding to recover' public funds' from insolvent State bank
need not pursue steps required by State law.
(U. S. D. C, 1927.) The United States, in proceeding under Revised Statutes, section 3466 (Comp. St., sec. 6372) to recover public funds in insolvent State bank, is under no obligation to pursue steps provided for in
State law, since1 priority given by United States can not be impaired or
superseded thereby. (Ib.)
United States is entitled to priority after suspension of payment and finding of
insolvency of State banks having funds on deposit.
(U. S. D. C. 1927.) Where State banks, having on deposit United States
funds, suspended payment and were found to be insolvent by State commissioner of finance, United States was then, under Revised Statutes,
section 3466 (Comp. St., sec. 6372), entitled to have property dealt with
as a trust fund, and its rights or priorities recognized under the statute.
(Ib.)
NEW HAMPSHIRE

Under state statute, assets of savings department of trust company are impressed with trust, and can not be used to satisfy debts of mercantile department. (Pub. Laws N. II. 1926, c. 268, § 29.)
(U. S. D. C. 1927.) Under Public Laws New Hampshire, 1926, chapter 268,
section 29, relating to the distribution of proceeds of property of an insolvent banking institution, assets of savings department of trust company are impressed with a trust for the benefit of depositors in that
department, and can not be used to satisfy debts of the mercantile department. (United States v. Peoples Trust Co. et al., 17 Fed. Rep., 2d
series, 437.)
United States—Statute declaring preference for claims of United States against
insolvent estates should be liberally construed. (Rev. St. § 3466 \Comp. St.
§ 6372].)
(U. S. D. C. 1927.) Revised Statutes, section 3466 (Comp. St. section
6372), declaring a preference in favor of claims of the United States
against insolvent estates, being intended to secure adequate public revenue, should be liberally construed. (Ib.)
United States—Claimants of exemption from statute preferring claims of United
States against insolvent estates have burden of proof. (Rev. St. § 3466
[Comp. St. § 6372].)
(U. S. D. C. 1927.) Persons claiming exemption from the operation of
Revised Statutes, section 3466 (Comp. St. section 6372), declaring a preference in favor of claims of the United States against insolvent estates,
have burden of showing that they are not within its provisions. (Ib.)
Claim of United States for postal funds deposited with trust company in course
of liquidation held entitled to preference (Rev. St. U. S. .§§ 3466, 3467 [Comp.
St. §§ 6372, 6373]; Pub. Laws N. H. 1926, c. 268; Bankruptcy Act, § 3a, subd.
4 [Comp. St. § 9587].)
(U. S. D. C. 1927.) Under Revised Statutes United States sections 3466,
3467 (Comp St. sections 6372, 6373), claim of the United States for postal
funds deposited in trust company in hands of bank commissioner for
liquidation under Public Laws New Hampshire, 1926, chapter 268, was
entitled to preference, notwithstanding bank was closed, for express
reason that public good required it rather than on ground of insolvency;
it being in fact insolvent and assumption of control by commissioner
equivalent to placing of receiver or trustee in charge, under bankruptcy
act, section 3a, subdivision 4 (Comp. St. section 9587), as it existed prior
to amendment of May 27, 1926 (44 Stat. 662). (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

171

SOUTH DAKOTA

Contracts—Contract against publw policy of State will not ~be enforced, though
valid at place made.
(U. S. D. O. 1927.) Contract against settled policy of State will not be
enforced, although it may be valid at place where contract was made.
(Mechanics & Metals Nat. Bank v. Smith, as State Superintendent of
Banks of South Dakota, et al., 21 Fed. Rep., 2d series, 128.)
Contracts—Only evidence of State's public policy are its constitution, laws, and
judicial decisions.
(U. S. D. C. 1927.) Only authentic admissible evidence of public policy
of State on any given subject are its constitution, laws, and judicial
decisions. (Ib.)
South Dakota hanks held without power to put up collateral securing rediscounted notes. {Rev. Code S. Dak. 1919, sec. 898A, as amended by Laws S.
Dak. 1919, c. 12k; Laws S. Dak. 1925, c. 92.)
(U. S. D. C. 1927.) Under Revised Code South Dakota, 1919, section 8984,
as amended by Laws South Dakota, 1919, chapter 124, banks are without
power to put up collateral to secure notes rediscounted on theory that
such rediscounting was merely a method of borrowing money, particularly in view of Laws South Dakota, 1925, chapter 92, making exception
in case of requirement therefor by rules of Federal reserve bank. (Ib.)
Giving lien on collateral to cover previous notes rediscounted to lender constituted unlawful " preference,'' and teas void.
(U. S. D. C. 1927.) Where, prior to bank's borrowing money and furnishing collateral as security, lender had rediscounted certain notes of borrowing bank, thereby creating relation of debtor and creditor, the subsequent giving of lien on collateral furnished for loan, so as to cover
previous rediscount notes, constituted unlawful " preference," and was
void. (Ib.)
Holder of rediscount notes from insolvent bank has separate and distinct claims
on each unpaid rediscount.
(U. S. D. C. 1927.) Holder of rediscount notes secured from insolvent bank
before its liquidation has as many distinct and separate claims as there
are unpaid rediscounts, neither of which were dependent on, connected
with, or affected by others, so as to facilitate the payment of dividends
thereon. (Ib.)
Credit belonging to bank with correspondent bank, from whom it had borrowed
money and rediscounted notes, will be applied to primary obligation.
(Rev.
Code S. Dak. 1919, sec. 757.)
(U. S. D. C. 1927.) Where, at time of bank's insolvency, it had credit with
correspondent bank, to whom it had rediscounted notes and also borrowed
money on collateral security, credit of such insolvent bank will, under
Revised Code South Dakota, 1919. section 757, be applied to payment of
bank's primary obligation, rather than on contingent liability on rediscount. (Ib.)
South Dakota bank can not secure rediscounts to (mother bank, even as part
agreement for secured loan from the other bank. (Rev. Code S. Dak. 1919,
sec. 898 Jh as amended by Laivs S. Dak. 1919, c. 124.)
(U. S. D. C. 1927.) Under Revised Code, South Dakota, 1919, section 8984,
as amended by Laws, South Dakota, 1919, chapter 124, prohibiting a bank
of that State from giving security, except for money borrowed, security
given by it to another bank, to secure both a loan then obtained from the
other bank and its obligation on account of notes which it had rediscounted to the other, is an invalid preference as regards the notes, though
the loan was made conditional on security being given, not only for it, but
for such notes. (Smith, State Superintendent of Banks, v. First Nat.
Bank of Sioux City, Iowa, 21 Fed. Rep,, 2d series, 135.)




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REPORT OF THE COMPTROLLER OF THE CURRENCY

Indorsement by defendant bank on notes of insolvent bank of open-account balance held conclusive application, in absence of showing of mistake or lack
of authority.
(U. S. D. C. 1927.) Where, at the time a bank failed, it had a balance in
its open account with defendant bank, to which it was indebted on
secured notes and an unsecured claim, and defendant then, as it had a
rig,ht to do, indorsed the amount thereof on such notes, such indorsement,
in the absence of a showing that it was made without authority, or by
mistake or error, was a conclusive application of the balance. (Ib.)
NEGOTIABLE PAPER
Bills and noties.
(U. S. C. A. D. C. 1926.) Note delivered to bank as renewal for residue
of former note given for corporate stock in Delaware in violation of
law held inforceable in hands of holder in due course. (Theunissen v.
Continental Trust Co., 15 Fed, Rep., 2d series, 894.)
Corporations.
(U. S. C. A. D. C. 1926.) Promissory note given for corporate stock in
violation of law is not void as against corporation. (Ib.)
OFFICERS
REPRESENTATION OF BANK BY OFFICERS

Vice president, wrongfully using note of depositor, held to have been acting for
the bank and not as agent of depositor,
(U. S. C. C. A. 1926.) Defendant, a depositor in a bank of which he was
also a director, being about to leave on a journey, signed a blank form
of note to the bank and delivered it to the active vice president, with
instructions that, if he should overdraw his account while absent, the
note should be filled out for such amount as he would direct and the
proceeds placed to his account. He did not overdraw his account; but
the vice president, without authority, filled out the note and deposited
the proceeds in his own account. Held, that the transaction was between
defendant and the bank of which the vice president was an executive
oflicer, and that direction of a verdict for the bank in an action on the
note, on the ground that the vice president was agent for defendant,
was error. (Senter v. Bromfield, 16 Fed. Rep,, 2d series, 576.)
Representations madd by bank president to proposed surety as to borrower's
assets, in connection with proposed loan by bank, held binding on bank.
(U. S. C. O. A. 1926.) False representations by the president of a bank,
made in connection with a proposed loan by the bank to one solicited
to, and who did, indorse the borrower's note, respecting the financial
condition of the maker, were within the scope of his authority and
binding on the bank. (Young et al. v. Goetting et al., 16 Fed. Rep.,
2d series, 248.)
That maker promised to pay indorser did not preclude latter from dewymg
liability for fraud of payee.
(U. S. C. C. A. 1926.) That the maker of a note promised to pay an
indorser for his indorsement did not preclude the latter from denying
liability on the ground that he was induced to make the indorsement by
false representations of the payee. (Ib.)
Appeal and error—Exception to charge must call attention to particular part
objected to.
(U. S. C. C. A. 1926.) Objection to charge, which does not correctly refer
to or describe part of charge attacked, is insufficient. (Ib.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

173

Notes executed by bank officers to correspondent bank held to constitute *' bank
transaction," authorizing correspondent bank to charge account of other bank
on maturity.
(U. S. D. C. 1927.) Notes executed by bank president, in sole management
and control and active charge of its affairs, and by other bank officers to
correspondent bank for purpose of securing funds for bank held, in view
of custom and reconcilements showing that both parties intended notes
for use of bank, to constitute a " bank transaction," and not a personal
loan, so that correspondent bank was justified in charging the amount of
such notes on maturity to account carried with it by bank for whose use
notes were executed. (Keyes v. First Nat. Bank of Aberdeen, S. Dak.,
20 Fed. Rep.,-2d series 678.)
Reconcilement with co-respondent) bank, signed by officers who were also nominal makers of note included, in such reconcilement, held binding on bank for
ivhich money was borrowed on note.
(U. S. D. C. 1927.) Reconcilement by cashier and vice president, covering
transaction whereby correspondent bank charged notes executed by bank
president and vice president, signing reconcilement to bank's account,
constituted an act of the bank binding on board of directors, who were in
duty bound to examine accounts, since reconcilements were made in ordinary course of business by such vice president, who, although signing
notes, was only a nominal maker for use of bank. (Ib.)
Bank receiver held estopped to assert claim against correspondent bank charging
notes executed for use of bank by its officers to bank's account.
(U. S. D. O. 1927.) Where notes executed by bank officers to correspondent
bank were treated by all parties thereto as constituting a bank transaction, and not personal obligation of makers, receiver is estopped to assert
claim against correspondent bank because of its action in charging such
nofes to bank's account, in that receiver stands in no better position than
bank, it bringing action itself. (Ib.)
Account stated—Cash letters and reconcilement statements covering notes
executed by bank officers to correspondent bank and charged to bank's account
constituted " account stated."
(U. S. D. C. 1927.) Transaction between bank and correspondent bank, consisting of forwarding of cash letters and exchanging reconcilements covering notes executed by bank officers and charged by correspondent bank
to bank's account on maturity, held to constitute an " account stated," in
that such letters and reconcilement sheets and statements contained all
items included within transactions of all character between banks. (Ib.)
Receiver can not recover against correspondent bank on notes executed by bank
officers and charged to bank on maturity, on theory of conspiracy to conceal
liabilities.
(U. S. D. C. 1927.) Receiver for closed bank held not entitled to recover
on notes executed by bank officers to correspondent bank and charged to
bank's account on maturity, on theory of conspiracy between bank and
co-respondent to conceal liability of borrowing bank, in that bank while
a going concern could not have maintained action therefor, and receiver
stands in no better position. (Ib.)
Receiver for insolvent bank can not recover against corespondent bank pa/yments on personal loan to president of insolvent bunk after acceptance and
reconcilement.
(U. S. D. O. 1927.) Where president of bank paid interest on personal loan
from correspondent bank by check or draft in certain instance, and in
other instances correspondent bank charged account to bank of which
borrower was president, and all items were remitted by correspondent
bank and accepted and reconciled by proper officer of bank other than
president, receiver after bank's insolvency held not entitled to recover
such payment against correspondent bank, particularly since payments
were charged to account of borrower, and in each case he had credit to
cover charge. (Ib.)




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REPORT OF THECOMPTROLLER OF THE CURRENCY

Directors' acquiescence m bank president's use of bank funds in- paying personal
obligation conferred authority on him to do so.
(U. S. D. O. 1927.) Directors' continued acquiescence in bank president's
using bank funds in payment of personal obligation with knowledge which
they could and would have had, had they performed their duties, held
to have conclusively conferred authority on president to use bank
funds.. (Ib.)
Knowledge of bank cashier, paid co-conspirator of bankrupt, of financial difficulties and probability that preference would result, held not imputed to bank.
(Bankruptcy act, section 60b (Comp. St. section 9644)')
(U. S. D. C. 1926.) Where assistant cashier of bank,.for a monetary consideration, conspired to facilitate unlawful operations of bankrupt, and
after allowing substantial overdrafts on two dummy accounts of bankrupt, and being threatened with personal liability therefor by officers of
bank, obtained cash payment from bankrupt with knowledge of his
financial difficulties, and probability that preference would result, held,
his knowledge could not be imputed to the bank, so as to charge it with
knowledge necessary to make the payment to it an unlawful preference,
under bankruptcy act, section 60b (Comp. St. section 9644). (Walser v.
International Union Bank; In re Colin, 18 Fed. Rep., 2d series, 957.)
OFFICERS, CIVIL LIABILITY OF
Courts—Action for damages for violating statute by making false reports as to
resources of bank is law action. (National bank act (12 U. 8. C. A. sees. 93\
161) ; equity rule 26).x
(U. S. D, C. 1927.) In action to recover damages1 for violation of national
bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A. sees. 93, 161), by making
false reports relating to resources and liabilities of bank, adequate
remedy at law exists, since right to recover is based wholly on statutory
liability, and equity rule 26 is inapplicable; case being properly on law
side of court. (Benton et al. v. Deininger et al., 21 Fed. Rep., 2d
series, 657.)
Pleading—Paragraph of complaint in law action for damages asking for
accounting may be stricken or regarded as surplusage. (National bank act
(12 U. S. C. A. sees. 93, 161).1)
(U. S. D. C. 1927.) In law action to recover damages for violation of
national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93,161)),
by making false reports relative to resources and liabilites of bank,
paragraph of complaint asking for accounting and that multiplicity of
actions of substantially same character be avoided may be stricken or
regarded as surplusage. (Ib.)
In action for damages for making false reports as to bank's resources, p-roceedr
ings before auditor are subject to supervision of court, (National bank act
(12 U. 8. C. A. sees. 93, 161)})
(U. S. D. C. 1927.) Proceedings before auditor are subject to supervision
of court in law action against several defendants for damages for violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93,
161)), by making false reports relative to resources of bank. (Ib.)
Reference—Appointment of auditor to segregate and apply testimony to different causes of action does not take final determination of fact issues from jury.
(National bank act (12 U. 8. C. A. sees. 93, 161).)1
(U. S. D. C. 1927.) In law action for damages for violation of national
bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A. 93, 161), by making
false reports relative to resources of bank, final determination of issues
of fact must be made by jury at trial, notwithstanding that auditor was
appointed to segregate and apply testimony to different causes of
action. (Ib.)
1

-U. S. C. A. United States Code annotated.




REPORT OF THE COMPTROLLER OF THE CURRENCY

175

In action for damages for making false reports as to bank's resources, 21
persons, who were directors of bank at different times, held properly joined
as defendants. (National bank act (12 U. 8. G. A. sees. 93, 161).)1
(U. S. D. C. 1927.) In action for damages for violation of national bank
act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93, 161)), for making
false reports relative to resources of bank, brought by 23 stockholders of
bank, who alleged 57 causes of action against 21 defendants, who were
directors of bank at different times mentioned in complaint, there was no
misjoiner of defendants. (Ib.)
Action—Complaint for damages for bank directors' false reports as to resources
stating 51 causes of action held not objectionable as multifarious.
(National
bank act (12 U. 8. G. A. sees. 93, 161).y
(U. S. D. C. 1927.) In action for damages for violation of national bank
act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93, 161)), for making
false reports relative to resources of bank, complaint stating 57 causes
of action against 21 defendants, who were directors of bank at different
times mentioned, held not objectionable as multifarious. (Ib.)
Recovery for violating statute by making false reports as to bank's resources
depends wholly on extent of damages. (National banking act (12 U. 8. G. A.
sees. 93, 161).x)
(IT. S. I). C. 1927.) In action for damages for violation of national banking act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93, 161)), by
making false reports as to resources of bank, there is no fixed penalty,
and recovery depends wholly on extent of damages proven. (Benton
et al v. Deininger et al., 21 Fed. Rep., 2d series, 659.)
Action—Right of action against bank director for false reports of resources
survives against defendant's personal representatives.
(National banking
act (12 V. 8. C. A. sees. 93, 161)1; Decedent Estate Law N. Y. sec 120.)
(U. S. D. C. 1927.) Right of action against bank directors for violating
national banking act (Rev. St. sees. 5211, 5239 (12 U. S. 0. A. sees. 93,
161)), by making false reports as to bank's resources, does not abate on
death of defendant, but survives against his personal representatives
under Decedent Estate Law New York (Consol. Laws, c. 13, section 120),
since substance of action is remedial rather than penal. (Ib.)
Courts—In determining whether right of action against bank director for making
false reports survives against deceased defendant's representatives, laio of
8tate must guide Federal court. (National banking1 act (12 U. 8. C. A. sees.
93, 161).x)
(U. S. D, C. 1927.) In determining whether right of action against bank
director for violating national banking act (Rev. St. sees. 5211, 5239 (12
U. S. C. A.1 sees. 93, 161)), by making false reports as to bank's resources,
survives against deceased defendant's personal representatives, law of
State where action is originally brought must guide Federal court, since
cause of action is to recover under remedial statute. (Ib.)
OFFICERS, CRIMINAL LIABILITY OF
Page
JURISDICTION OF FEDERAL COURTS IN CRIMINAL CASES
ABSTRACTION OF FUNDS
WILLFUL MISAPPLICATION OF FUNDS
FALSE ENTRIESAIDERS AND ABETTORS
LIABILITY OF OFFICERS, OF STATE BANKS MEMBERS OF FEDERAL RESERVE
SYSTEM
.
—
TRIAL AND ITS INCIDENTS
1

U. S. C. A. United States Code annotated.




176
176
177
178
179
180
180

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REPORT OF THE COMPTROLLER OF THE CURRENCY
JURISDICTION OF FEDERAL COURTS IN CRIMINAL CASES

Criminal law—Indictment held to allege national dank president received
money and misappropriated it, contrary to Federal statute; indictment charging national bank president with receiving and misappropriating money held
to charge offense within exclusive jurisdiction of Federal courts. (U. 8.
Comp. 8t. sec. 9112.)
(Sup. Minn. 1927.) An indictment examined and held to allege that defendant, as president of a national bank, received money of another, and,
while so in possession thereof as such officer of the bank, misappropriated
or misapplied the same, in violation of a Federal statute. The offense
thus charged is within the exclusive jurisdiction of the Federal courts.
(State v. Thornton, 214 N. W. Rep. 279.)
ABSTRACTION OF FUNDS

One participating in deposit and payment or collection of certificate of deposit
held guilty of abstracting funds of bank with intent to injure bank and
deceive examiner; " abstract."
(U. S. C. C. A. 1927.) One who participated in deposit and payment or
collection of certificate of deposit of Federal reserve member bank to
deceive examiner by covering accumulated unpaid drafts, notes, and
checks held guilty of abstracting moneys and funds of such bank with
intent to injure and defraud it, and to deceive examiner, within Revised
Statutes, section 5209, as amended by act September 26, 1918, chapter
177, section 7 (Comp. St. sec. 9772 (12 U. S. C. A. sec. 592) J 1 ; "abstract"
meaning to take or withdraw from. (Westfall v. United States, 20 Fed.
Rep., 2d series, 604.)
IndActment and information—Indictment charging defendant aided and abetted
in abstracting moneys from Federal reserve member bank held not to negative participation as principal, nor duplicitous. (12 U. 8. G. A. sec. 592.)1
(U. S. C. C. A. 1927.) That indictment averred that defendant aided and
abetted violation of Revised Statutes section 5209, as amended by act
September 26, 1918, chapter 177, section 7 (Comp. St. sec. 9772 (12 U. S.
C. A.1 sec. 592)), prohibiting abstracting of moneys and funds of Federal
reserve bank or any member banks, with intent to injure bank and deceive
examiner, held not to negative his participation as principal, nor open
way to attack indictment for duplicity. (Ib.)
Criminal law—Where witness was patient at insane hospital between time of
crime and trial, rejection of adjudication of insanity held not substantial
error, in view of other evidence.
(U. S. C. C. A. 1927.) Where Government witness had been admitted as
insane patient at State hospital between time of crime and trial, but
had been paroled when called to testify, rejection of formal adjudication
of insanity held not substantial error, in view of other evidence concerning his insanity. (Ib.)
Conspiracy is not necessary incident to offense of unlawfully
abstracting
moneys from Federal reserve member bank. (12 U. 8. C. A. sec. 592.)1
(U. S. C. C. A. 1927.) Conspiracy is not necessary incident to and element
of offense of abstracting moneys of Federal reserve bank or member
bank, with intent to injure bank or deceive officer or examiner, defined
by Revised Statutes, section 5209, as amended by act September 26,
1918, chapter 177, section 7.) (Comp. St. sec. 9772 (12 U. S. C. A.1 sec.
592).) (Ib.)
Criminal laiv—One may be prosecuted as principal and as conspirator to commit offense. (Comp. St. sec. 10201.)
(U. S. C. C. A. 1927.) One may be prosecuted both as principal in and as
conspirator to commit offense, in view of Penal Code, section 37 (Comp.
St. sec. 10201), since, where separate offenses arise from same transaction,
protection against double jeopardy does not apply, (Ib.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

177

WILLFUL MISAPPLICATION OF FUNDS

Indictment agaimM officers of national bank for criminal misapplication of its
funds held good against demurrer.
(U. S. O. C. A. 1926.) An indictment charging officers of a national bank
with knowingly, willfully, unlawfully, feloniously, and fraudulently misapplying funds of the bank, being the proceeds of notes deposited with
the bank for collection, held to sufficiently negative consent of the owners
of the notes to the alleged misapplication. (Bishop v. United States
(2 cases), 16 Fed. Kept., 2d series, 406.)
Proceeds of collections are " funds" of the bank as respects misapplication
(Comp. St. sec. 9772).
(U. S. 0. C. A. 1926.) Money received by a national bank in payment of
notes it holds for collection, while remaining in its hands, constitutes
" f u n d s " of the bank, within Revised Statutes, section 5209 (Comp. St.
§ 9772), making it an offense for an officer or employee to embezzle or
misapply such funds. (Ib.)
Criminal law—Variance is not fatal, unless prejudicial^
(U. S. C. C. A. 1926.) A variance between allegations in an indictment
and the proof is not fatal, unless material and prejudicial. (Ib.)
Criminal lam—Instruction as to facts ivarrantmg conmction must be limited to
facts alleged.
(U. S. 0. O. A. 1926.) Instruction as to what evidence would warrant conviction must be limited to facts alleged in the indictment. (Ib.)
Criminal lam—Appellate court can not reform misleading instruction.
(U. S. C. O. A. 1926.) An appellate court can not reform a statement in an
instruction, made in a manner plainly tending to mislead or confuse the
jury, though not so intended. (Ib.)
Misapplication of funds mid intent to injure bank must combine to constitute
misapplication of funds of national banks. {Comp. St. § 9772.)
(U. S. C. C. A. 1926.) Two elements must combine to constitute the offense
of " misapplication of funds " of a national bank, under Revised Statute,
section 5209 (Compt S t § 9772) : (1) Misapplication of funds of the bank ;
and (2) a willful and felonious intent to injure or defraud the bank.
(Bishop v. United States (2 cases) ; Gates v. United States, 16 Fed. Rep.,
2d series, 410.)
National bank held liable for obligations of subsidiary corporation, which U
controlled through stock ownership.
(U. S. O. C. A. 1926.) Where a former department of a bank was separately incorporated, its stock being issued to the bank, which fully controlled its affairs, and its account was still carried on the books of the
bank as the insurance department, the bank held liable for its obligations.
(Ib.)
Corporations—Where there is practical identity between corporation and another, lohich it owns and controls, courts will ignore separate legal entities.
(U. S. C. C. A. 1926.) Where one corporation is subsidiary to and owned
and controlled by another, courts will look through mere names to learn
the real relationship between the corporations, and if there is practical
identity will disregard the formal separation into legal entities. (Ib.)
Evidence held not to sustain conviction of officers of national bank for criminal
misapplication of funds.
(U. S. 0. C. A. 1926.) Evidence held insufficient to sustain conviction of
officers of a national bank for willful misapplication of its funds, where
they were applied under advice of counsel in payment of claims for
which there was at least a strong probability that the bank would have
been held legally liable. (Ib,)




178

REPORT OF THE COMPTROLLER OF THE CURRENCY

Criminal law—Unless substantial evidence excludes every other hypothesis but
guilt, court should instruct verdict for accursed; evidence as consistent with
mnoeence as guilt ivill not sustain conviction.
(U. S. C. C. A. 1926.) Unless there is substantial evidence of facts which
includes every other hypothesis but that of guilt, it is the duty of the
trial court to instruct a verdict for accused; and where all the substantial
evidence is as consistent with innocence as with guilt, it is the duty of
the appellate court to reverse a judgment of conviction. (Ib.)
Evidence held to sustain conviction of employee for* misapplication of funds of
national bank. {Comp. St. § 9772.)
(U. S. C. C. A. 1927.) Conviction of an employee of a national bank under
Revised Statutes, section 5209 (Comp. St. § 9772), for misapplication of
funds of the bank, held sustained by evidence that defendant collected a
sum due the bank and intentionally failed to give credit for the same on
the books, or to deposit it in the bank; that the bank lost the amount
being inferable from such facts. (Thurston v. United States, 17 Fed. Rep.,
2d series, 770.)
Employee who converged proceeds of checks sent bank for collection held chargeable with misapplication of " funds of the bank." (Rev. St. § 5209, as
amended by act Sept. 26, 1918 {Comp. St. § 9772).)
(U. S. C. C. A. 1927.) Collection teller of a member bank of the Federal
reserve system, who, as such, received checks and drafts sent to the bank
for collection and credit or remittance, and who, after collection, failed
to credit or remit the proceeds, but converted the same to his own use
held chargeable with misapplication of funds under Revised Statutes,
section 5209, as amended by act September 26? 1918 (Comp. St. § 9772) ;
such proceeds, when collected, being " funds of the bank." (Wherrell v.
United States, 18 Fed. Rep., 2d series, 532.)
FALSE ENTRIES

Customer's paper not considered in determining borrower's limit.
(U. S. C. C. A. 1926.) Notes taken by borrower secured by chattel mortgage
on the thing sold and discounted to bank, commonly called customers'
paper, will not be considered in determining whether loans to borrower
exceeded 10 per cent of its capital, which national bank is authorized to
loan to one business. (Hyde v. United States, 15 Fed. Rep., 2d series,
816.)
Criminal law.
(U. S. C. C. A. 1926.) Instruction in prosecution under Compiled Statutes,
section 9772, for alleged false entry by national-bank official, excluding
consideration of testimony as to defendant's asking advice as to particular
transaction from reputable bankers, hel4 erroneous as excluding showing
of good faith. (Ib.)
(U. S. C. C. A. 1926.) Where in prosecution of bank officer under Compiled
Statutes, section 9772, for alleged false entries, different inferences might
be drawn from given transaction, accused is entitled to most favorable
inference. (Ib.)
What not intent to deceive.
(U. S. C. C. A. 1926.) Arrangement with customer to retire excessive loan
by national bank with approval of national-bank examiner, held not to
involve concealment or intent to deceive as would support conviction of
bank officer under Compiled Statutes, section 9772. (Ib.)
Evidence of intent to deceive.
(U. S. C. C. A. 1926.) Evidence held insufficient to convict officer of
national bank of intent to deceive under Compiled Statutes, section 9772.
(Ib.)
Notes taken from borroioer to strengthen customer's paper not required to be
included in report to comptroller.
(U. S. C. C. A. 1926.) National-bank officer held not required in report to
comptroller to include notes taken from borrower to strengthen customer's
paper discounted by borrower. (Ib.)




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179

AIDERS AND ABETTORS

Criminal law—In prosecution for aiding and abetting cashier in misapplying
funds of national bank, admission in evidence of letters constituting no part
of transaction held error, hut not ground for reversal. {Rev. Stat., sec. 5209,
as amended by act Sept. 26, 1918, *ec. 7 (Comp. Stat., sec. 9772).)
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772),
for aiding and abetting cashier of national bank in misapplication of
bank's funds by discounting note, repudiated by alleged accommodation
makers, admission in evidence of letters from defendant relating to contemplated transactions between defendant and such makers, and constituting no part of any transaction between defendant and cashier or
defendant and bank held error, but not ground for reversal. (Havener v.
United States. 15 Fed. Rep., 2d series, 503.)
In prosecution for aiding and abetting misapplication of national-bank funds,
correspondence relating to extraneous matters held inadmissible. (Rev. Stat.,
sec. 5209, as amended by act Sept. 26, 1918, sec. 7 {Comp. Stat., sec.
9772).)
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772),
for aiding and abetting cashier of national bank in misapplication of
bank's funds by discounting worthless note, correspondence between
defendant and alleged accommodation maker of note relating to extraneous matters held inadmissible. (Ib.)
When correspondence admissible.
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772),
for aiding and abetting in misapplication of national bank's funds by
discounting worthless note, correspondence showing method of handling
notes by bank held admissible. (Ib.)
When correspondence inadmissible.
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772).
for aiding and abetting cashier of national bank in misapplication of
bank's funds by discounting worthless note, correspondence between
maker and his attorney held inadmissible. (Ib.)
Criminal law.
(U. S. C. C. A. 1926.) In absence of objection to admission of evidence,
assignment of error based thereon will not be considered. (Ib.)
Proof of cashier's misapplication of national bank's funds was necessary to
conviction for aiding and abetting him and cashier's conviction was prima
facie evidence of his guilt. (Rev. Stat., sec. 5209, as amended by act Sept.
26, 1918, sec. 7 (Comp. Stat., sec. 9772).)
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772),
for aiding and abetting cashier of national bank in misapplication of
bank's funds, proof of commission of primary offense by cashier was
necessary to defendant's conviction, and evidence of cashier's conviction,
was prima facie evidence of his guilt, and therefore admissible. (Ib.)
Criminal law—In prosecution for aiding1 and abetting cashier's 'misapplication
of bank's funds, proof of conviction of cashier should be made by record, and
admission of parol proof thereof was error. (Rev. Stat., sec. 5209, as amended
by act Sept. 26, 1918, sec. 7 (Comp. Stat., sec. 9772).)
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772),
for aiding and abetting cashier of national bank in misapplication of
bank's funds, proof of cashier's conviction of primary offense should have
been made by record of conviction, and proof thereof by cashier's parol
testimony was error. (Ib.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY

Criminal law—In prosecution for aiding and abetting cashier's misapplication
of funds, error in admitting parol testimony of cashier's conviction was rendered harmless by admission of defendanfs counsel. (Rev. 8tat., sea. 5209,
as amended by act Sept. 26, 1918, sec. 7 (Comp. Stat., sec. 9772).)
(U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209,
as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772),
for aiding and abetting cashier of national bank in misapplication of
bank's funds, admission by defendant's counsel that record showed
cashier's conviction, made in objecting to competency, materiality, and
relevancy of record, waived production of record of conviction, and made
error in admitting parol testimony as to such conviction harmless. (Ib.)
Witnesses—In prosecution for aiding and abetting misapplication of bank's
funds, cross-examination of witness as to prosecution of defendant for violation of State blue sky law* held> reversible error. (Rev. Stat. Kans. 17-1201
to 17-1222; Rev. Stat. U. S., sec. 5209, as amended by act Cong. Sept. 26,
1918, sec. 7 (Comp. Stat., sec. 9772).)
(U. S. C. C. A. 1926.) Where witness, in prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp.
Stat., sec. 9772), for aiding and abetting misapplication of national
bank's funds by discounting of worthless note, testified on direct examination that he never denied liability to bank on his indorsement of note,
cross-examination as to prosecution of defendant for violation of State
blue sky law (Rev. Stat. Kans. 17-1201 to 17-1222), having no relation to
direct examination, held reversible error, as not proper cross-examination,
or as showing defendant's character which was not in issue. (Ib.)
Criminal law.
(U. S. C. C. A. 1926.) Any error in denying motion for directed verdict
for defendant at close of Government's case was waived by defendant's
subsequent introduction of further evidence. (Ib.)
Criminal law.
(U. S. C. C. A. 1926.) In absence of motion for directed verdict at close of
evidence, assignment of error that trial court erred in not directing
verdict for defendant at that time was without foundation. (Ib.)
LIABILITY OF OFFICERS OF STATE BANKS MEMBEES OF FEDERAL RESERVE SYSTEM

State banks which have joined the Federal reserve system, their officers, etc.,
are subject to the penalties of Revised Statutes, section 5209. The acts thus
made criminal are punishable under the Icvws of the State.
(U. S. Supt. 1927). Section 9 of the Federal reserve act, as amended June
21, 1917, is constitutional in so far as it provides that State banks which
have joined the Federal reserve system, their officers, etc., shall be subject to the penalties of Revised Statutes, section 5209, which punishes
misapplication, etc., of a bank's funds.
The acts thus made criminal may be punishable also under the laws
of the State. It is not a condition to the power of Congress to punish
such acts that they result in any loss to the Federal reserve banks.
When necessary in order to prevent an evil, the law may embrace more
than the precise thing to be prevented. Congress may employ State
corporations, with their consent, as Federal instrumentalities and make
frauds that impair their efficiency crimes. (Westfall v. United States,
274 U. S. R. 256.)
TRIAL AND ITS INCIDENTS

Judges—Affidavit of prejudice of judge held filed too late. (Judicial Code,
§ 21 (Comp. St. § 988).)
(U. S. C. C. A. 1926.) It is the intent of Judicial Code, section 21 (Comp.
St. § 988), providing for the filing of an affidavit of prejudice against
the trial judge that it shall be filed in time to save useless costs, and a
motion and affidavit filed by a defendant on the day the case was reached
for trial, setting up facts known to his counsel at least four days previously, held properly denied. (Bishop v. United States (2 cases) ; Gates
v. United States, 16 Fed. Rep., 2d series, 410.)



EEPORT OF THE COMPTROLLER OF THE CURRENCY

181

Evidence of officer's guilt of paying his taxes from national bank's fund held
insufficient for jury.
(U. S. C. C. A. 1927.) Evidence held insufficient to take to jury question as
to national bank officer's guilt of paying his taxes out of bank's funds.
(Bishop v. United States (two cases) ; Gates v. United States, 19 Fed.
Rep., 2d series, 224.)
Criminal laiv—Sufficiency of evidence to take guilt must be determined from
record at close of evidence.
(U. S. 0. C. A. 1927.) Whether evidence was sufficient to take to jury
question of defendant's guilt must be determined on state of record at
close of evidence. Former opinion, 16 Federal Reporter, 2d series, 410,
modified, and trial court directed to proceed accordingly. (Ib.)
Trial court held without power to impose fine on counts for violating national
banking act. (Comp. St. sec. 9657 et seq.)
(U. S. C. 0. A. 1927.) Trial court held not to have had power to impose
$50 fine on each count of indictment for violation of the national banking
act. (Comp. St. sec. 9657 et seq.) (Wenstrand v. United States, 20 Fed.
Rep., 2d series, 325.)
Criminal law—Concurrent sentence on several counts, within power of court to
impose on any one, will not be set aside if any count charges sufficient facts.
(U. S. C. C. A. 1927.) Where sentence imposed on each of counts, to run
concurrently, was within power of court to impose for any single violation of law charged, judgment may not be set aside if any one count is
sufficient to make out an offense, although all other counts may be found
fatally defective. (Ib.)
Count for violation of national banking act, alleging defendants converted
moneys of bank held sufficient. (Comp. St. sec. 9657 et seq.)
(U. S. C. C. A. 1927.) Count of indictment for violation of national banking act (Comp. St. sec. 9657 et seq.), alleging officers abstracted certain
money and converted it to their own use, benefit, and advantage, as well
as to use of other persons, held sufficient to uphold judgment of conviction. (Ib.)
OFFSETS
Insolvent bank can not set off general indebtedness of railroad against bank's
liability for trust fund for benefit of railroad bondholders.
(U. S. D. C. 1926.) Insolvent bank held not entitled to set off general indebtedness of railroad against bank's liability for trust fund held for
benefit of railroad bondholders. (Poisson et al. v. Williams, Receiver
Commercial National Bank, 15 Fed. Rep., 2d series, 582.)
Bank which sold property held in trust to secure bond issue, holds proceeds as
trustee for bondholders.
(U. S. D. C. 1926.) Bank, which sold property conveyed to it by deed of
trust to secure bond issue, held to receive and hold proceeds as trustee
of express trust for benefit of bondholders, as respects priority. (Ib.)
When State bank becomes a national bank character of trust funds does not
change.
(U. S. D. C. 1926.) Character of trust funds held by State bank did
not change when it became national bank, where change did not destroy
its identity or corporate existence. (Ib.)
As respects priority cash coming into hands of insolvent bank's receiver held to
include trust fund held by bank for benefit of railroad bondholders.
(U. S. D. C. 1926.) Cash coming into hands of insolvent bank's receiver held
to include trust fund which had been held by bank for benefit of railroad
bondholders, where amount of cash in vaults had never fallen below
total amount of trust funds held by bank since such fund was deposited. (Ib.)




182

REPORT OF THE COMPTROLLER OF THE CURRENCY

Trusts.
(U. S. D. C. 1926.) Trustee is presumed to make disbursements from his
own money, rather than trust funds; rule that moneys are disbursed in
order of receipt being inapplicable. (Ib.)
Substituted trustees entitled to trust funds.
(U. S. D. C. 1926.) Substituted trustee of fund held by insolvent bank held
entitled to such fund in hands of bank's receiver, but not to interest.
(Ib.)
Final decree should he entered for substituted trustee against receiver of insolvent bank in suit to separate trust fund from other money held by
receiver.
(U. S. D. C. 1926.) Final rather than interlocutory decree should be entered for substituted trustee against receiver of insolvent bank in suit
to separate trust fund from other money held by receiver, i% view of
equity rule 37, where plaintiff was clearly entitled to relief requested.
(Ib.)
Removal of causes.
(TJ. S. D. C. 1926.) Allegation relative to cause of action, which was stated
in bill of complaint in State court, but not urged after removal, should
be stricken. (Ib.)
ORGANIZATION
NAME OF NATIONAL BANK

Approval of name by comptroller required—Court can not review comptroller's
action.
(Sup. Dist. Col. 1927.) Section 5133 of the Revised Statutes gives the
Comptroller of the Currency the uncontrollable right to select the name
for a national bank. This right is a part of the banking law and goes
through and comes down to the act of May 1, 1886, in which a change
of name is authorized with the approval of the Comptroller of the
Currency.
A bank having obtained its charter under this act, under which the
comptroller is now about to act in authorizing the use of this particular
name which is complained of, I do not see how the conclusion can be escaped that having taken a charter with knowledge that the comptroller
might some day have a matter presented to him which would raise the
very sort of question which is now raised in this case, Congress authorizes
him to act in the matter and to determine what you might call the
equities of the situation as far as administrative action was concerned.
If the court now undertook to act in a matter of this kind, it would be
practically going into the Treasury Department and undertaking to run
the comptroller's office. I can not see anything else. (First National
Bank of Pasadena v. Joseph W. Mclntosh, Comptroller of the Currency.
Case not reported.)
POWERS
National bank held to have taken stock only in trust to sell, if possible, and
not to have agreed to look to it only for payment of note.
(TJ. S. C. C. A. 1926.) Where national bank's receipt for its own stock,
delivered to it at time of making loan, recited that it held such stock
"in trust for (borrower's) account being authorized to sell any part of
it, * * * provided we can realize for you $106 per share or better,
* * * and it is agreed that the stock will be sold by us, and your
note liquidated from the proceeds of such sales," held, bank took stock
only in trust, to sell, if possible, for accommodation of borrower, and
had not agreed to look to it only for payment of note. (Jackman v. Continental National Bank et al., 16 Fed, Rep., 2d series, 728.)




EEPORT OF THE COMPTROLLER OF THE CURRENCY

183

Statute held) to preclude holding that national bank had agreed to look only t(*
proceeds of certain of its own stock delivered to it for payment of note,
{Comp. 8t. § 9762.)
(U. S. G. C. A. 1926.) Where bank's receipt for its own stock, delivered
to it on making of loan, recited that it held the stock "in trust," and
was " authorized " to sell it at a certain price, and further, " it is agreed
that the stock will be sold by us and your note liquidated from the proceeds of such sales," heldi Compiled Statutes, section 9762. prohibiting
any national banking association from purchasing any of its own capital
stock, precluded holding that bank had agreed to look to proceeds of
note alone for payment. (Ib.)
Contracts—Lawful constructions of contract will be adopted, if reasonable and
permissible.
(U. S. C. C. A. 1926.) When a contract is open to two constructions, the
one lawful and the other unlawful, the former must be adopted, if reasonable and permissible. (Ib.)
Contract whereby national bank agreed to look only to proceeds of its own
stock for payment of note held void even as betiveen parties, (Comp. St. §
9762,
(IT. S. C. C. A. 1926.) Alleged contract by which national bank agreed to
look only to proceeds of certain of its own stock, deposited with it for
payment of note, if established, held void under Compiled Statutes, section 9762, even as between the parties, notwithstanding rule precluding
debtors, borrowers, and private parties generally from complaining of
unwarranted exercise of powers by national banks. (Ib.)
National bank contracting beyond its power is not liable for anything beyond
what it has received.
(U. S. C. C. A. 1926.) Undertaking by national bank beyond its power to
contract will not support action against it to recover anything beyond
value of what it has actually received and enjoyed. (Ib.)
National bank, making unauthorized loan, and borrower held not in -part delicto
as affecting bank's right to set up its want of power. (Comp, St. § 9762.)
(U. S. C. C. A. 1926.) National bank, making loan on security of its own
stock, or agreeing to look only to certain pledged stock for payment of
note, in violation of Compiled Statutes, section 9762, and borrower, held
not in pari delicto as affecting right of bank to set up its want of power
to make the agreement alleged. (Ib.)
SHAREHOLDERS
ASSESSMENTS

Page
CONCLUSIVE NESS OF COMPTROLLER'S ACTION
WHO DEEMED TO BE SHAREHOLDERS FOR ASSESSMENT
STATE BANKS—DETERMINATION OF SHAREHOLDERS' LIABILITY

183
184
i85

CONCLUSIVENESS OF COMPTROLLER'S ACTION

Comptroller of Currency properly appointed receiver and assessed stockholders
on assuming jurisdiction of national bank after another bank repudiated eon*
tract for liquidation, (National bank act, June SO. 1876, sees. 1, 2, 3 (Comp,
St., sees. 9807, 9826, 9827).)
(U. S. C. C. A. 1927.) Under national bank act, June 30, 1876, sections 1,
2, 3 (Comp. St., sees. 9807, 9826, 9827), Comptroller of Currency properly
appointed receiver, and assessed shareholders of national bank on assuming jurisdiction of the affairs thereof, after another bank had repudiated
contract entered into for liquidation of its affairs. (Liberty National
Bank of South Carolina at Columbia v. Mclntosh. Comptroller of the
Currency, et al.; Mclntosh, Comptroller of Currency, et aL v. Liberty
National Bank of South Carolina at Columbia, 16 Fed, Rep., 2d series,
906.)
71284°—28
-13



184

ItiEPORtf OF THE COMPTROLLER OF THE

Comptroller of Currency's jurisdiction in respect to liquidation* of national banks
is exclusive.
(U. S. O. C. A. 1927.) Jurisdiction of Comptroller of Currency in respect
to all matters properly within his discretion relative to> liquidation of
national banks is exclusive, and his action therein is not subject to review. (Ib.)
Decisions of Comptroller of Currency are not subject to collateral attack, nor is
his assessment against shareholders reviewable, in absence of fraud.
(U. S C. C. A. 1927.) Decisions of Comptroller of Currency relative to
«
liquidation of national banks are not subject to collateral attack, nor is
his assessment against shareholders, and amount thereof open to review,
in absence of fraud. (Ib.)
Receiver, taking possession of assets of national bank on appointment by Comp^troller of Currency, assumes control thereof as officer of United States.
(U. S. C. C. A, 1927.) Where Comptroller of Currency appoints a receiver
of a national bank, receiver takes possession of assets of bank and assumes control of its operation, not as agent of bank, but as officer of the
United States. (Ib.)
Appeal and error—Trial court held to have improperly granted injunction pending appeal from decree denying injunction, in absence of peculiar circumstances warranting it. (Judicial Code, sec. 129 (Comp. St., sec 1121).)
(U. S. C. C. A. 1927.) Trial court held to have improperly granted injunction pending appeal from decree refusing to enjoin Comptroller of Currency from collecting assessment against shareholders of national bank,
since, although such appeal is authorized under Judicial Code, section
129 (Comp. St., sec. 1121), effect of granting injunction operates as securing relief denied on original application, which is abuse of discretion, in
absence of peculiar circumstances warranting it. (Ib.)
WHO DEEMED TO RE SHAREHOLDERS FOR ASSESSMENT

Heal owmer of national-bank stock may be treated as "shareholder" within>
meaning of law authorizing assessments. (Rev. St., sec. 5151, as amended by
act Dec. 28, 1913, sec. 23 (Comp. 8t.f sec. 9689).)
(17. S. D.'C. 1927.) Real owner of shares of capital stock of national banking association may in every case be treated as "shareholder," within
meaning of Revised Statutes, section 5151, as amended by act December
23, 1913,'/section 23 (Comp. St., see. 9689), authorizing 100 per cent assesment against shareholder. (McCandless v. Haskins et al., 20 Fed. Rep.,
2d series, 688.)
Person allowing himself to appear as registered owner of national-bank sluires
may be treated as " shareholder," within law authorizing assessment. (Rev.
St.. sec. 5151, as amended by act Dec. 23, 1913, sec. 23 (Comp. St., see. 9689).)
(U. S. D. C; 1927.) Any person who holds himself out as owner of shares of
national bank by allowing himself to appear as registered owner thereof
on books of banking association may be treated as a " shareholder," within
meaning of Revised Statutes, section 5151, as amended by act December
23, 1913, section 23 (Comp. St., sec. 9689), authorizing assessment. (Ib.)
Real owner transferring national-bank shares to another person to evade responsibilities may be treated as "shareholder" and liable for assessment^
(Ret). St., sec. 5151, <is amended by act Dec. 23, 1913, sec. 23 (Comp. St.,
sec. 9689).)
(IT. S. D. C. 1927.) If real owner of national-bank shares transfers them
to another person, or causes them to be placed on books of banking asso^
ciation in name of another person, with intent to evade responsibilities
imposed by Revised Statutes, section 5151, as amended by act December
23, 1913, section 23 (Comp. St., sec. 9689), such person may be treated for
purpose of that section as a "shareholder" and liable for assessment
.therein prescribed, (Ib.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

185

Person receiving national-bank shares as collateral held not
"shareholder"
tint fain law authorizing assessments. {Rev. St., sec. 5151, as amended by a<et
Dec. 23, 1913, sec. 23 (Comp. St., sec. 9689).)
(U. S. D. C. 1927.) Person receiving shares of stock of national banking
association as. collateral security for a debt due from owner in good faith
and for purpose only of securing payment of that debt without incurring
responsibility of shareholder, will not be treated as " shareholder," within
meaning of Revised Statutes, section 5151, as amended by act December
23, 1913, section 23 (Comp. St. sec. 9689), authorizing assessments. (Ib.)
Directors taking into bank cashier's stock in exchange for notes, on his removal
and advancing money to bank with stock as security, held not liable for
assessments. (Rev. St., sec. 5151, as amended by act Dec. 23, 1913, sec. 23
(Comp. St., sec. 9689).)
(U. S. D. C. 1927.) Bank directors taking into bank stock of cashier in
exchange for certain notes after demand of bank examiner that cashier
be removed, and on failure to dispose of stock as planned to new cashier,
advancing money with agreement that stock should be held as security
for sum advanced, held not liable as shareholders for assessment under
Revised Statutes, section 5151, as amended by act December 23, 1913, section 23. (Comp. St., sec. 9689.) (Ib.)
Bank's purchase of cashier's stock on removal held not void, and not to vest
title in directors or subject them to assessment. (Rev. St. sec. 5151, as
amended by act Dec. 23, 1913, sec. 23 (Comp. St. sec. 9689').)
(U. S. D. C. 1927.) Bank's purchase of cashier's stock on his removal
giving him in exchange therefor certain notes, though ultra vires, held
not void, so as to automatically vest title thereto in directors, within
meaning of Revised Statutes, section 5151, as amended by act December
23, 1913, section 23 (Comp. St. sec. 9689), authorizing assessment against
shareholders. (Ib.)
Individual liability of stockholder in national bank continues for 60 days after
transfer of stock. (Federal reserve act, sec. 23 (Comp St, sec. 9689').)
(IT. S. C. C. A. 1927.) Under the provisions of Federal reserve act, section
23 (Comp. St. sec. 9689), that stockholders who shall have transferred
their shares or registered the transfer within 60 days next before the
date of failure of a national bank shall be liable to the same extent as
if they had made no such transfer, the double liability of a stockholder
continues for 60 days after transfer of his stock, though tiie bank way
solvent when the transfer was made, and may be enforced if failure
occurs within the 60 days. (Fletcher et al. v. Porter, 20 Fed. Rep, 2d
series, 23.)
STATE BANKS—DETERMINATION OF SHAREHOLDERS' LIABILITY

Superintendent of banks can not delegate determination of stockholder's Mmbility to depositors, or assessment and collection* thereof. (Banking act Go.
1919, art: 2, sec. 10; art. 7, sees. 9, 10, 23, and sec. 20, as\ amended by acts
1925, p. 130).)
(U. S. D. C. 1927.) Authority of superintendent of banks to •determine
stockholder's liability to depositors and assessment and collection thereof
under banking act, Georgia, 1919 (acts 1919, p. 135), article 7, section 20.
as amended by acts 1925, page 130, can not be delegated to agent by
power of attorney authorized by article 7, sections 9, 10, of act of 1919,
notwithstanding section 23 and article 2, section 10. (In re Giles, 21
Fed. Rep., 2d series, 537.)
Officers—Public officer is agent who can not intrust performance of duties^
except mechanical or ministerial acts, to others without consent of principal.
(U. S. D. C. 1927.) Public officer is, in large sense, agent who may not
intrust performance of his duties to another without consent of principal, except that he may delegate to subagent execution of mechanical,
clerical, or ministerial acts, where they are not expressly required to
be performed by him. (Ib,)



186

REPORT OF THE COMPTROLLER OF THE CURRENCY
TAXATION
ASSESSMENT OF SHARES

Evidence given in State court may he reviewed—finding of State court not
conclusive.
(U. S. Sup. 1927.) Upon review of a judgment of a State court sustaining
a discriminatory State tax on national-bank shares upon the ground that
the other moneyed capital, favored by the discrimination, was not
employed in competition with the business of the national bank* this
court may review the evidence regarding such competition and is not
concluded by the finding of the State court. (First National Bank of
Hartford, Wis. v. City of Hartford et al., 273 TJ. S. R. 548.)
Validity of State tax on national-hank shares at greater rate than assessed on
other moneyed capital.
(U. S. Sup. 1927.) The validity, under Revised Statutes, section 5219, of
a State tax on national-bank shares at a greater rate than that assessed
on other moneyed capital depends upon whether or not the moneyed
capital thus favored is employed in such a manner as to bring it into
substantial competition with the business of national banks. (Ib.)
Equality of taxation on shares of stock in national ba>nks and other capital
employed in same sort of business required.
(U. S. Sup. 1927.) The requirement of approximate equality in taxation
(R. 8. sec. 5219) is not limited to moneyed capital invested in State
banks or to competing capital employed in private banking; it applies
wherever capital, substantial in amount compared with the capitalization
of national banks, is employed in a business, or by private investors, in
the same sort of transactions as those in which national banks engage
and in the same locality in which they do business. (Ib.)
Only those personal investments that are not in competition ivith ritottdnal
banks excluded from term moneyed capital.
(U. S. Sup. 1927.) The amendment Of section 5219 by act of March 4,
1923, merely expressed what was previously implied, and by its terms
excludes from " moneyed capital * only those personal investments
*
which are not in competition with the business of national banks. (Ib.)
What proof of competition required.
(U. S. Sup. 1927.) Proof of competition by untaxed capital involves
showing that it is employed in such investments as are open to national
banks. (Ib.)
Evidence of competition.
(IT. S. Sup. 1927.) In this case the evidence shows substantial competition with national banks by untaxed capital in the business of making
loans and selling credits and also by capital of private individuals who,
as investors of surplus funds, were engaged in lending money at interest
on real-estate mortgages and other evidences of indebtedness, normal to
banking. (Ib.)
Evidence of emnpetition,
(U. S. Sup. 1927.) To establish the fact of competition, it is not necessary
to show that national banks and the other investors solicit the same
customers for the same loans or investments. It is enough if both engage
in seeking and securing in the same locality investments of the class
described which are substantial in amount. (Ib.)
Real estate mortgages, sale of, by national banks.
(U. S. Sup. 1927.) The sale of real-estate mortgages and other evidences
of debt acquired by way of loan or discount with a view to reinvestment is
within the incidental powers of national banks, (Ib.)




REPORT OF THE COMPTROLLER, OF THE CURRENCY

187

Discrimination against national-hank shares forbidden, whether legislation be
friendly or unfriendly.
(U. S. Sup. 1927.) The fact that discrimination against national-bank
shares is not unfriendly or hostile, but is induced by the State policy of
substituting income taxes for personal property taxes, does not render
Revised Statutes, section 5219, inapplicable. (187 Wis. 290, reversed.)
(Ib.)
United States Supreme Court ivill accept negative finding of the State court,
where the evidence is in some particulars conflicting and the finding is supported by evidence and not certainly against weight of evidence.
(U. S, Sup. 1927.) Upon the question of fact whether capital invested by
individuals in bonds and cither securities, was so invested as to come in
competition with national banks (Rev. Stats., sec. 5219), this court will
accept the negative finding of the State court, where the evidence is in
some particulars conflicting and the finding is supported by evidence
and not certainly against the weight of evidence. So held where the
evidence fell short of establishing that the capital wras employed substantially as in the loan and investment features of banking in making
investments by way of loan or discount or in notes, bonds, and other
securities, with a view to sale or repayment or rein vestment. (208 Ky. 7,
affirmed.) (Georgetown National Bank v. MeFarland et ai.. 273 U. S. R.
568.)
Taxation of shares measured by value of shares.
(U. S. Sup. 1927.) The taxation of national-bank shares, authorized by
Revised Statutes, section 5219, is against the holders of the shares and is
to be measured by the value of the shares, and not by the assets of the
bank without deducting its liabilities. (Minnesota v. First National
Bank of St. Paul, 273 U." S. R, 561.)
Tax on national-bank shares at greater rate than that imposed on competing
credits can not be sustained.
(U. S. Sup. 1927,) A tax on national-bank shares at a greater rate than
that imposed on competing credits in the hands of individuals can not
be sustained upon the ground that the discrimination is removed in practice by deducting liabilities of the bank from its assets in valuing its
shares, while allowing no deduction of their liabilities to individuals in
valuing their credits. (Ib.)
Shares in capital of corporations in note-brokerage business or bulling or sellwuj
securities are " moneyed capital,'"
(U. S. Sup. 1927.) The shares of corporations employing capital in the notebrokerage business or in buying and selling securities are " moneyed
capital in the hands of individual citizens" (R. S., sec. 5219), i. e,, the
individuals holding the shares. (Ib.)
Glasses of business competition of which is guarded against by section 5219,
(U. S. Sup. 1927.) The competition guarded against by section 5219 may
arise from the employment of capital invested in a business, even though
the competition be with some but not all phases of the business of national
banks, or it may arise from the employment of capital invested by institutions or individuals in particular operations or investments like those
of national banks, (Ib.)
Evidence.
(U. S. Sup. 1927.) The evidence sustains a finding by the State court that
moneyed capital in the hands of individuals was in competition with the
business of national banks, including the plaintiff. (Ib.)
Surplus capital of individuals investing in bonds, mortgages, etc., in competition witli national banks is moneyed capital coming into corn-petition, tcith
business of national bank.
(IT. S. Sup. 1927.) Surplus capital of individuals seeking investment and
reinvestment in bonds, mortgages, and other evidences of indebtedness,
in competition with the capital of national banks, is moneyed capital
coming into competition with the business of national banks, within the
meaning of Revised Statutes, section 5219. 164 Minnesota 235, affirmed.
(Ib,)




188

REPORT OF THE COMPTROLLER OF THE CTJREEHCY
TRUSTS

Gross reference:
Checks—
Pags
Payment of checks on trust funds
.___
..___ 150
Appeal and error—Findings of special master, approved by Ghanmllor, may he
set aside for obvious error in law, or m considering evidence, or if against
clear weight of evidence.
(U. S. .0. C. A. 1927.) Though findings of a special master approved by
the chancellor will ordinarily not be set aside by appellate court, if
master's findings were caused by an obvious error in applying the law,
or serious mistake in considering evidence or are clearly against the
weight of evidence, appellate court may set them aside, (Leathe v.
Title Guaranty Trust Co.. 18 Fed. Rep., 2d series, 41.)
Trusts1—Agreement under which plaintiff conveyed realty to trust company
guaranteeing title held to authorize trust company to sell property:
(U. S. C. C. A. 1927.) Agreement under which plaintiff conveyed realty to
trust company in consideration of its guaranteeing title of realty acquired
by plaintiff under her deceased husband's will to indemnify it against
loss, and authorizing it to sell sufficient realty to satisfy large judgment
against husband's estate and other charges, held to authorize trust
company to sell realty to pay such judgment, as against contention that
it was volunteer or meddler in doing so, and fact that judgment was
assigned to one of trust company's officers was immaterial. (Ib.)
Trusts—Trust cmnpany to whwh plaintiff conveyed realty in consideration for
its guaranteeing title held not required to pay judgment against plaintiff
without request.
(U. S. C. C. A. 1927.) Where plaintiff conveyed realty to trust company in
consideration of its agreement to guarantee title of realty sold by plaintiff acquired by her under her deceased husband's will, a large judgment
having been rendered against husband's estate, any property remaining
unsold to be reconvened to plaintiff, held, that it was not trust company's duty as trustee to pay off another judgment against plaintiff
to prevent judgment sale of plaintiff's realty without request from
plaintiff to do so and offer to secure trust company for the advancement.
(Ib.)
Trusts—Trustee may purchase beneficiary's property to protect interests of
trust.
(U. S. C. C. A. 1927.) Rule that court of equity will not permit trustee to
purchase property of beneficiary under a paramount title does not apply
where purchase is made by trustee to protect interest of trust, including
its own interests, and is not for personal gain of trustee nor adverse to
beneficiary. (Ib.)
Trusts—Facts held to show trust company purchased beneficiary's r< alty about
to be sold under foreclosure in trust for beneficiary.
(U. S. C. C. A. 1927.) That trust company, which purchased property
about to be sold under mortgage foreclosure and belonging to beneficiary
of trust of which it was trustee, charged purchase price and other
expenditures in connection with purchase to beneficiary's account on
dates of payments and rendered complete statements of account to beneficiary's attorneys, held to show that it acquired title in trust for beneficiary and not for its own use, and that title was taken in name of
its employee for convenience only. (Ib.)
Trusts—That trust company guaranteed plaintiffs title in amount greater than
cash received after selling stock taken in part payment held not improper.
1
' (XJ1 S. C. C A. 1927.) That trust company under its agreement to guarantee
title to plaintiff's realty, against which large judgment had been rendered, guaranteed title in sum of $415,000 on realty sold for $500,000,
and charged therefor and paid realtors' commissions on sale accordingly
instead of on basis of what plaintiff actually received after stock taken
in part payment was sold, held not prejudicial to plaintiff, since purchaser had right to demand guaranty on entire purchase price. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

189

Trusts—That realtors who sold plaintiff's property held in trust .divided commissions with realtor, who was officer of trustee, held not improper(U. S. C. C. A. 1927.) That realtors who sold plaintiff's property held in
trust by trust company divided commissions received with another realtor,
who was also a director of trust company, held not improper and did
not prejudice plaintiff. (Ib.)
Account stated—Failure to object to statement showing price received, charges
for guaranteeing title, and realtors' commissions, held to make account stated.
(U. S. C. C. A. 1927.) Failure to object to statement of trust company
showing price received on sale of realty held in trust and charges for
guaranteeing title and realtors' commissions, within reasonable time
after receipt thereof, made it an account stated, and estopped recipient
from denying liability for charges contained therein, whether he was
actually liable for them or not. (Ib.)
Trusts—That trust company to which plaintiff conveyed realty to\ indemnity u
against loss under its guaranty of title violated duties as trustee held not
proved.
(U. S. C. C. A. 1927.) In suit for accounting against trust company as
trustee of realty conveyed to it by plaintiff in consideration of its agreement to guarantee title of plaintiff's realty, acquired under will of her
deceased husband and against which a large judgment had been rendered,
evidence held not to show that trust company failed to discharge its
duties as trustee. (Ib.)
Election of remedies—Substituted trustee's filing of claim against receiver of
former trustee for paymemts on trust deed did not preclude action against
banlc appropriating money.
(IT. S. C. C. A. 1927.) Where money paid on trust deed was appropriated
by bank in payment of debt of insolvent trustee, substituted trustee's
action in filing claim against receiver for insolvent trustee was not such
election of remedies as would preclude right to sue bank for amount
claimed. (First National Bank of Chicago v. Newhouse, 17 Fed. Rep., 2d
series, 228.)
Evidence held to show that bank's application of payments on trust &eed to
trustee's debt tvas with knowledge of trust character of payment,
(U. S. C. C. A. 1927.) Evidence held to show that appropriation by bank
of payments on trust deed for payment of indebtedness of insolvent
trustee in accordance with contract was not made until after full
knowledge of trust character of funds. (Ib.)
DECISIONS OF STATE COURTS

The following decisions of State courts are of particular interest
to banks for the year ended November 15, 1927, and include decisions
for the year reported in the following reporters:
134 AtL, 305, to 138 Atl., 864.
217 N. Y. S., 593, to 224 N. Y. S., 228.
153 N. E., 177, to 158 N. E., 288.'
210 N. W!, 49, to 215 N. W., 592.
248 Pac., 657, to 259 Pac, 1024.
109 So., 473, to 114 So., 80.
134 S. E., 385, to 138 S.'E., 688.
286 S. W., 1, to 298 S. W., 320.
These decisions are arranged in accordance with the treatment of
the subject with which they are connected in Patoivs Digest,
The abbreviation " P. D." refers to Paton's Digest.
The decisions were furnished by Mr. Thomas B. Paton, general
counsel for the American Bankers' Association.



190

REPORT OF THE COMPTROLLER OF THE CURRENCY

DECISIONS OF STATE COURTS OF PARTICULAR INTEREST TO BANKS
FOR THE YEAR ENDED NOVEMBER 15, 1927

ACCEPTANCE AND CERTIFICATION.

P. D. 1-131

Duty to certify checks. P. D. 4. Wachtel v. Rosen, 221 N. Y. S. 710.
Failure of drawee bank to return check within 24 hours considered as
acceptance. P. D. 25. Clarke v. National Bank of Montana,
252 Pac. (Mont.) 373.
Preference to holder of certified check on bank's insolvency. P. D. 84.
Lloyd v. Butler County State Bank. 253 Pac. (Kan.)" 906.
ACCEPTANCES—TRADE P. D. 143-222
Negotiability of trade acceptance. P. D. 168.
Wakem«\ Schneider, 213 N. W. (Wis.) 328.
Heller v. Cuddy, 214 N. W. (Minn.) 924.
Lane Co. v. Crum, 291 S. W. (Tex.) 1084. (One of the most
important decisions of the year resulting in proposed change
in form of trade acceptance.)
ACCOMMODATION PAPER. P. D. 223-297
Extension of time as discharge of accommodation maker. P. D. 268.
J. I. Case Threshing Machine Co. v. Howth, 293 S. W. (Tex.)
800.
BANKS AND BANKING. P. D. 465-605
Branches of trust company outside of city
where main office is located. P. D. 494. Media Title & Trust
Co. v. Cameron, 137 AtL (Pa:) 129.
BRANCH BANKING. Branches as separate entities. P. D. 494. Sokoloff• v. National City Bank of New York, 224 N. Y. S. 102.
BRANCH BANKING. Forfeiture by depositor of his right because of
negotiation by bank for the deposit away from its office. P. D.
494. Mulliner v. McCornick & Co., 257 Pac. (Utah) 658.
BRANCH BANKING. P. D. 494. Bank of Italy v. Johnson, 251 Pac.
(Cal.) 784.
BRANCH BANKING. Distinction between branch and additional office
where deposits are made and checks cashed. P. D. 494. Marvin
v. Kentucky Title Trust Co., 291 S. W. (Ky.) 17.
Power of bank to act as agent for sale of customers securities and
investment of proceeds. P. D. 513. Parr v. Gardner, 293 S. W.
(Tex.) 859.
Right of bank to pledge assets for general deposit. Divide County v.
Baird. 212 N. W. (N. D.) 236. P. D. 519.
Power of bank to pledge securities for deposit. P. D. 519. Williams
v. Hall. 249 Pac. (Ariz.) 755.
Investment by bank in real estate bonds. P. D. 547. First State
Bank of Kansas City v. Bone, 252 Pac. (Kan.) 250,
BRANCH BANKING.




REPORT OF THE COMPTROLLER OF THE CURRENCY

191

Power of bank to make guaranty. Distinction between guaranty
and letter of credit. P. D. 555. Bridge i>. Welda State Bank,
292 S. W. (Mo.) 1079.
Power of state taxing authorities to examine bank records. P. D.
565. State v. Smith, 157 N. E. (Ohio) 327.
Liability of bank for misrepresenting solvency of maker of note
where bank officer acts as agent of depositor in making loan.
P. D. 572. Johnson v. Farmers' & Merchants' Bank of Montrose. 287 S. W. (Mo.) 835.
Representation by cashier as to credit of third party. Liability of
bank. P. D.*572. Williams v. Eavaima Bank, 289 S. W. (Mo.)
34.
Liability of collecting bank for failure to present check to drawee
bank and for return of such item with notice that the. depositor's
account is charged therewith; libel. P. D. 574. Cox v. National
Loan & Exchange Bank, 136 S. E. (S. C.) 637.
False notice to buyer of automobile that bank held mortgage on car
as libel. Recovery of $3,000. for loss of credit, P. D. 574. Eby
v. Wilson. 289 S. W. (Mo.) 639.
BANKS—NATIONAL. P. D. 606-757
Liability of national banks on ultra vires guaranty to extent of benefits received. P. D. 740. Stockyards Nat. Bank of Denver v.
Brown. 255 Pac. (Colo.) 624.
BANK OFFICERS, DIRECTORS, AND EMPLOYEES. P. D. 758-796
Liability of bank for cashier's act in instigating a criminal prosecution maliciously and without probable cause. P. D. 765. Cumberland State Bank v. Ison. 291 S. W. (Ky.) 405.
BANK OFFICERS, DIRECTORS, EMPLOYEES—NATIONAL BANKS.
P. D. 797-830
Criminal liability under State law for embezzlement by national
bank officer of its funds. P. D. 825. State v. Thornton, 214
K W. (Minn.) 279.
BANK STOCK AND STOCKHOLDERS. P. D. 831-916
Right of stockholder, paying assessment to repair capital before
closing of bank, to credit for same on stockholder's liability after
closing. P. D. 838. Andrew v. Farmers* Trust & Savings Bank
of Charles City, 213 N. W. (Iowa) 925.
Payment of assessment to repair capital as defense to subsequent
stockholder's liability. Agreement by banking commissioner
that further assessment would not be required. P. D. 838.
Austin v. Fleming, 290 S. W. (Text) 835.



192

REPORT OF THE COMPTROLLER OF THE CURRENCY

Stockholders' liability. P. D. 839. Commissioner of Banks t\ Tremont Trust Co., 156 N. E. (Mass.) 7.
Acceptance by bank of its own capital stock in payment of note
held by it is void. Transaction does not constitute payment.
P. D. 913. White v. Whitehurst, 139 S. E. (N. C.) 598.
BANKBUPTCY AND INSOLVENCY. P. D. 917-953
Payment of cash without knowledge of filing of petition in bankruptcy against drawer. P. D. 927.5. Cunningham v. Lexington
Trust Co., 156 N. E. (Mass.) 1.
False financial statement as bar to discharge in bankruptcy. Intent
to deceive. Reliance of creditor on statement. What constitutes
falsity. Omission of item of indebtedness which maker of statement did not believe he owed. Omission of debts known to
creditor. P. D. 949. Underwood v. Ajax Rubber Co. (Inc.),
296 S. W. (Tex.) 964.
Holder of cashier's check as depositor under statute given priority
of claim. P. D, 950.7. In re Citizens' State Bank of Gooding,
255 Pac. (Idaho) 300.
CHECKS. P. D. 1097-1394
Live stock checks. Duty of bank to pay although funds insufficient
where check was for purchase of live stock and the draft constituting the proceeds of the sale had been deposited. P. D.
1190. State v. Trimble, 289 S. W. (Mo.) 796.
Checks without funds. Criminal liability. Check given for rent in
advance for premises not thereafter occupied. P. D. 1260.
Bradford v. State, 113 So. (Ala.) 650.
Checks without funds. Offer of repayment before check presented.
P. D. 1260. Arlington v. State, 296 S. W. (Tex.) 568.
Checks without funds. Criminal offense. Postdated checks. P. D.
1270. Ex parte Griffin, 257 Pac. (Cal.) 4:58,
Check without funds. Criminal liability. Postdated check. P. D.
1270. Ex parte Scott, 259 Pac. (Cal.) 101.
Duty of depositor to examine pass book to discover wThether bank
made negligent or wrongful payment. P. D. 1287. Dow v.
StockportSavings Bank, 210 N. W. (Iowa) 815.
Duty of bank depositor to examine statements and vouchers. P. D.
1287. Trust Co. of Norfolk v. Snyder, 138 S. E. (Va.) 477.
Duty of depositor to examine vouchers. Delegation by corporate
depositor of duty to single officer who acts in fraud of corporation. P. D. 1287. Calvin Coal Co. v. First National Bank of
Bastrop, 286 S. W. (Tex.) 901.
Fiduciary checks. Corporate check issued for personal debt. Received by bank in payment of personal debt. P. D. 1315. Boyle
v. Lewiston Trust Co., 136 Atl. (Me) 292,



REPORT OF THE COMPTROLLER OF THE CURRENCY

193

Fiduciary checks. Note belonging to corporation used to pay personal debt. P. D. 1315. Fehr. v. Campbell. 137 Atl. (Pa.) 113.
Fiduciary checks. Liability of bank paying checks on fraudulent
order of fiduciary. P. D. 1322. Eastern Mutual Insurance Co.
v. Atlantic National Bank, 157 N. E. (Mass.) 520.
Liability where customer requests American Bankers Association
travelers' checks and by false statements other travelers' checks
are substituted. P. D. 1367. Lesch v. Farmers' & Merchants'
State Bank of New Salem, 211 N. W. (N, D.) 687.
Wrongful dishonor. Substantial damages where drawer nontrader.
P. D. 1371.4. Meinhart v. Farmers5 State Bank. 259 Pac (Kan.)
698.
COLLECTION. P. B. 1417-1626
Eight of bank to refuse collection; agency for collection through
extended course of dealing. P. D. 1440. McEnelly v. American
Nat. Bank of St. Paul, 214 N. W. (Minn.) 922,
Collection. Duty of collecting bank with respect to presentment,
notice of nonpayment, etc. P. D. 1463. Continental ^National
Bank of Indianapolis o. Discount & Deposit State Bank of Kentland, 157 N. E. (Ind.) 433.
Liability for default of correspondent. P. D. 1471. Jensen v. First
National Bank of White, 213 N. W. (S. IX) 854.
Liability for default of correspondent. P. D. 1471, Gamble v. Sioux
Falls National Bank, 213 N. W. (S. D.) 857.
Duty of collecting bank to transmit by registered mail. P. D. 1516.
Matlocfc v. Citizens' Nat, Bank of Salmon, 250 Pac. (Idaho) 648.
Acceptance by collecting bank of draft. P. D. 1554.
Hommerberg v. State Bank of Slay ton, 212 N. W. (Minn.) 16
State v. Hanson, 213 N. W. (N. D.) 353.
Tropena v. Keokuk National Bank, 213 N. W. (Iowa) 398.
Berg v. Federal Reserve Bank of Minneapolis. 213 N. W. (N. D.)
963.
Hicks Co. Limited v. Federal Reserve Bank of St. Louis, 296
S. W. (Ark.) 46.
Collecting bank receiving draft in payment. Federal Reserve Bank.
P. D. 1554. Transcontinental Oil Company v. Federal Reserve
Bank of Minneapolis, 214 N. W. (Minn.) 918.
Receipt of draft by collecting bank. Collection for Federal Reserve
Bank. P. D. 1558. Rainwater t\ Federal Reserve Bank of St.
Louis, 290 S. W. (Ark.) 69.




194

REPORT OF THE COMPTROLLER OF THE CURRENCY

Insolvent bank. Priority of claim. P. D. 1589.
Claims of various kinds considered.
Leach v. Mechanics' Savings Bank, 211 N. W. (Iowa) 506.
Leach v. Iowa State Savings Bank of Manning, 211 N. W.
(Iowa) 515.
Andrew v. Chicago, M. & St. P. By. Co., 211 X. W. (Iowa) 515.
Leach v. Iowa State Savings Bank of Manning, 211 N". W.
(Iowa) 517.
Leach v. Battle Creek Savings Bank of Battle Creek, 211 1ST. W.
(Iowa) 519.
Leach v. Battle Creek Savings Bank, 211 N". W. (Iowa) 520.
Leach v. Carper, 211 N. W. (Iowa) 532.
Leach v. Farmers' & Merchants' Sav. Bank of Mt. Pleasant, 211
N. W. (Iowa) 535.
Leach v. Farmers' & Merchants' Sav. Bank of Boyer, 211 1 T W.
S.
(Iowa) 536.
Dickinson County v. Leach, 211 1 T W. (Iowa) 542.
S.
Union State Bank of Lancaster v. People's State Bank of Lancaster, 211 N. W. (Wis.) 931.
Andrew v. Farmers' State Bank of Batavia, 212 N. W. (Iowa)
124.
Andrew v. Citizens' State Bank of Eagle Grove, 212 N. W.
(Iowa) 745.
Leach v. City-Commercial Sav. Bank of Mason City, 212 N". W.
(Iowa) 746.
Leach v. Iowa State Savings Bank of Sioux City, 212 N. W.
(Iowa) 748.
Leach v. Central Trust Co., 213 K W. (Iowa) 777.
INSOLVENT BANK. Priority of claim. Collecting bank receiving
check on itself and remitting by cashier's check. P. D. 1589.
Citizens' Bank of Pinewood v. Bradley, 134 S. E. (S. C.) 510.
INSOLVENT BANK. Priority of claim. Note collected from third
party. P. D. 1599. Eifel v. Veigel, 211 N. W. (Minn.) 332.
INSOLVENT BANK. Priority of claim by holder of cashier's check
issued for proceeds of collection paid in cash before bank's failure. P. D. 1599. In re Citizens' State Bank of Gooding, 255
Pac. (Idaho) 300.
INSOLVENT BANK. Priority of claim. Draft of insolvent bank for
proceeds of travelers checks sold by it. P. D. 1600. Andrew v.
Citizens' State Bank of Eagle Grove, 212 N. W. (Iowa) 744.
INSOLVENT BANK. Priority of claim. Collection in cash and remittance by cashier's check. P. D. 1605. Hall v. Sullivan, 253 Pac.
(Okla.) 45.
INSOLVENT BANK. Priority of claim where proceeds of draft are not
to be commingled by collecting bank. P. D. 1610. Kansas Flour
Mills Co. v. New State Bank of Woodward, 256 Pac. (Okla.) 43.



REPORT OF THE COMPTROLLER OF THE CrRRENCT

195

DEPOSITS. P. B. 1772-1992
Criminal liability for receipt of deposit with knowledge of insolvency.
P. D. 1781. "Lenhardt v. State, 138 S. E. (Ga.) 590.
Criminal liability for receiving deposits with knowledge of insolvency. Necessity of actual receipt as distinct from merely assenting to or having knowledge of such receipt. P. I). 1781. State
v. Lewis, 139 S.^E. (S. C.) 386.
Deposit in fiduciary capacity as special deposit. P. I). 1782. Fray v.
Elliott, 255 Pac. (Wyo*.) 593.
Check deposited with understanding that it was to meet smaller
check. Preferred claim against insolvent bank to amount of
smaller check. P. D. 1789. Corporation Commission of North
Carolina v. Merchants' Bank & Trust Co., 138 S. E. (N. C.) 530.
DEPOSITS IN TWO NAMES. Distinction between persons owning bank
deposits together and " joint tenants."' P. D. 1809. Johnson v.
Nourse, 155 N. E. (Mass.) 457.
DEPOSITS IN TWXO NAMES. Title on death of one depositor. P. D.
1832. Appeal of Garland. 136 Atl. (Me.) 459.
DEPOSITS IN TWO NAMES. Statutory authority of bank to pay survivor. P. D. 1832. Portland 'Nat. Bank v. Brooks, 137 Atl.
(Me.) 641.
DEPOSITS IN TWO NAMES. Joint ownership. P« D. 1832. Ball v.
Mercantile Trust Co., 297 S. W. (Mo.) 415.
Constitutionality of depositors" guaranty law. P. D. 1984. Standard Oil Co." of Indiana .v. EngeL 212 N. W. (N. D.) 822.
FORGED PAPEK. P. D. 2012-2363
Payment by drawee bank of forged check. Defense that depositor
did not exercise due care in examining statements and returned
vouchers. Additional defense that depositor had ex-convict in
charge of office. P. D. 2022. Southwest.Nat. Bank of Dallas v.
Underwood, 295 & W. (Tex.) 253.
Statute requiring notice within particular time of payment by bank
of forged check does not apply to payment on forged indorsement, P. D. 2033. McCornack v. Central State Bank, 211 N. W.
(Iowa) 542.
Recovery by drawee bank which has paid forged check against bank
collecting the item where latter has been negligent in not identifying the person from whom it purchased the item. P. D.
2137. First Nat. Bank of Quitman v. Wood County, 294 S. W.
(Tex.) 324.
• "'
Liability of drawee bank to owner of a check which it has paid to
another on an unauthorized indorsement. P. D. 2219. Wayne
Tank & Pump Co., v. Bank of Eureka Springs, 290 S. W.
(Ark.) 370.



196

REPORT OF THE COMPTROLLER OF THE CURRENCY

Payment of savings deposit on forged order. Duty of care. By-laws.
P. D. 2322. Berndt v. Hoboken Bank for Savings in City of
Hoboken, 135 Atl. (N. J.) 818.
FRAUD AND CRIMES. P. D. 2364^-2413
Liability of State bankers association on reward offered for bank
burglar. P. D. 2367. Arkansas Bankers Ass'n v. Ligon, 295
S. W. (Ark.) 4.
FALSE STATEMENTS FOR CREDIT. Extension of time obtained by false
statement. P. D. 2368. State v. Tower, 251 Pac. (Kan.) 401.
FALSE STATEMENTS FOR CREDIT. Ability to check up truthfulness of
statement. P. D. 2368. Commonwealth v. Miller, 286 S. W.
(Ky.) 691.
HOLDER IN DUE COURSE. P. D. 2436-2486
Payee as holder in due course of negotiable instrument* P. D. 2436.
Foster v. Security Bank & Trust Co., 288 S. W. (Tex.) 438.
J. I. Case Threshing Mach. Co., v. Howth, 293 S. W. (Tex.) 800.
INSURANCE. P. D. 2835-2871
Liability of surety company on fidelity bond for irregularities of
officer of bank known to the bank officials. P. D. 2835. Parker
v. Sprague, 214 N. W. (Wis.) 361.
FORGERY AND ALTERATION POLICIES. What constitutes forgery.
P . D . 2859.
Eastern Exchange Bank v. Fidelity & Deposit Co. of Maryland, 157 X. E. (N. Y.) 260.
International Union Bank v. National Surety Co., 157 N. E.
(N. Y.) 269.
INTEREST AND USURY. P. D. 2872-3001
Statutory provision precluding defense of usury on the part of
corporations. P. D. 2988. Alston i\ American Mortgage Co.,
156 N. E. (Ohio) 606.
Availability of defense of usuary against holder in due course.
P. D. 2992. Davenport v. Kendrick, 139 S. E. (Va.) 295.
INTERIM CERTIFICATES
Negotiability of interim certificates. P. D. 3002.5. Hopple v,
Cleveland Discount Co., 157 N. E. (Ohio) 414.
MORTGAGES AND LIENS—REAL ESTATE. P. D. 3194-3280
NOTES.—Negotiability of note providing that it shall become due at
option of holder in case of default in terms of mortgage securing
. note. P. D. 3204. Ashland Building and Loan Co. v. Kerman, 155 N. E. (Ohio) 245.




REPORT OF THE COMPTROLLER OF THE CURRENCY

197

NOTES. P. D. 3433-3718
Negotiability of instrument for one purpose, but not for others,
P. D. 3435. Bank of California, X. A. v. National City Co.,
251 Pac. (Wash.) 561.
Repeal by X. I. Act of statute providing for compromise with one
joint or joint and several debtor without releasing others. P. D.
3446. Branton v. O. B. Crittenden & Co., I l l So. (Miss.) 150.
Personal liability of officer signing corporate note. P. D. 3466.
Union Machinery & Supply Co. i\ Taylor-Morrison Logging
Co., 254 Pac. (Wash.) 1094.
CONFESSION OF JUDGMENT. Legality of confession clause. P. D.
3511. Farmers' Bank of White Plains v. Bass, 292 S. W. (Ky.)
489.
STATUTORY ILLEGALITY. Note given for patented article. P. D.
4
3580.
Brenard Mfg. Co. t\ McKee's Model Pharmacy (Inc.), 287
S, W. Ark.) 187.
[ J. B. Colt Co. v. Mitcham, 287 S. W. (Ark.) 1008.
CHECK FOR GAMBLING DEBT. Liability of payee to bank cashing
check where payment stopped before presentation to drawee
bank. Liability of such payee where check deposited for credit
and amount withdrawn before notice that the check had been
dishonored because of stop-payment order. Payee of check
given for gambling debt deposits it for collection and gives
check for credit thus established; liability of payee of such
" second check to the depository bank. P. D. 3580. Thompson v.
First State Bank of Irvington, 288 S. W. (Ky.) 702.
Validity of note for purchase price of stock given in violation of
statute. P. D. 3583. Bank of Dermott v. MeaseU 287 S. W.
(Ark.) 1017.
Validity of note given as payment for automobile where certificate of
title not delivered as required by law. P. D. 3583. Morgan v.
Mulcahey, 298 S. W. (Mo.) 242. *
Defense by maker that he was fraudulently deceived as to nature of
instrument when instrument in hands of holder in due course,
P. D. 3597. Gross v.-Ohio Savings & Trust Co. 156 X. E. (Ohio)
205.
Agreement that indorser shall not be liable on note indorsed merely
for purpose of inspection of bank examiner. P. D. 3615.
Chelsea Exchange Bank v. La Hiff, 220 X. Y. S. 239.
Execution of note to give appearance of assets in payee bank. Enforceability. P. D. 3615. Jewett & Herr, 156 N. E. (Ind.) 568.
Bank as accommodated party where it in substance makes loan to one
person on another's note; reason being limitation on loan to one
borrower. P. D. 3615. Neylon •-<;. Liberty National Bank of
Pawhuska, 259 Pac. (Okla,)*545.



198

REFOBT OF THE COMPTROLLER OF THE CURRENCY

Payment of note to pavee after transfer without requiring surrender.
P. D. 3700.
Iowa Loan & Trust Co., v. Seaman, 210 N. W. (Iowa) 937.
Shoemaker v. Minkler,211 N. W. (Iowa) 563.
OVERDRAFTS. P. D. 3747-3785
Where drawee bank gives credit to depositor for item drawn on
itself, such credit held irrevocable; revocation of credit where forwarding bank suffered no loss. P. D. 3767. City National Bank
of Fort Smith v. Citizens' Bank of Pettigrew, 290 S. W. (Ark.)
48.
PAYMENT
(Important as illustration
of fact that in many cases a person may lose money through a
voluntary payment by mistake of law.) P. D. 3809.5. Hadley
v. Farmers' Nat, Bank of Oklahoma City, 257 Pac. (Okla.) HOl.

XONRECOVERY OF VOLUNTARY PAYMENT.

PKESENTMENT, PROTEST AND NOTICE. P. D. 3938-4173
P. D. 3982. Robinson v. Lancaster
Foundry Co., 136 Atl. (Md.) 58.

PRESENTMENT BY TELEPHONE.

SAFE DEPOSIT AND SAFE-KEEPING. P. D. 4187-4314
Power of bank to accept will for safe-keeping. P. D. 4187. Britton
v. Elk Valley Bank of Larimore, 211 N. W. (N. D.) 810.
SET-OFF. P. D. 4315-4461
Funds of third person in depositor's account without notice. P. D.
4357. Zollinger v. First Nat. Bank of Oklahoma City, 259, Pac.
(Okla.) 141.
INSOLVENT TRUST COMPANY. Deposit in savings department. Mutuality; commercial account, claims held by savings department.
P. D. 4445. Dole v. Chattabriga. Same v. Rainey. Same v.
Williams. 131 Atl. (N. EL) 347.
STOPPING PAYMENT. P. D. 4462-4558
Equitable purchaser. P. D. 4463. Hiroshima v. Bank
of Italy, 248 Pac. (Cal.) 947.
OKAL STOP-PAYMENT ORDER. (Not directly involved but reasoning of
importance.) P. D. 4490. Colorado Title & Trust Co. v. Roberts,
250 Pac. (Colo.) 641.

AGREEMENT.

TAXATION—STATE. P. D. 4617-4714
State taxation of national banks. Taxation of capital stock without
deduction for realty together with tax on realty. P. D. 4664.
People v. Breder, 223 N, Y. S. 579.



BEPORT OF THE COMPTROLLER OF THE CURRENCY

199

" Rate," P. D. 4664.
Central National Bank v. City of Lynn, 156 N. E. (Mass.) 42.
STATE TAXATION OF NATIONAL BANKS. Discrimination. Where capital invested in Government securities. Taxation of nationalbank stock by system different from other property. P. D. 4664.
Montana Nat, Bank of Billings v. Yellowstone County. 252
Pac. (Mont.) 876.
STATE TAXATION OF NATIONAL BANKS. Bank stock as separate tax
class. " Moneyed capital in hands of individual citizens." P. D.
4666. Comanche County v. American National Bank of Lawton,
252 Pac. (Okla.) 408. *

STATE TAXATION OF NATIONAL-BANK STOCK.

NEGOTIABLE INSTRUMENTS ACT.

P. D. PAGES 797-828

Repeal by N. I. act of statute releasing surety or accommodation indorser on failure of creditor to commence proceedings after
notice. P. D. page 814 §120. First Nat. Bank of Gulfport v.
Kau, 112 So. (Miss.) 688.
STATE BANKING DEPARTMENTS,

P. D. PAGES 1023-1024:

Criminal liability of head of state banking department for failure
to take charge of insolvent bank. P. D. page 1023. Ex parte
Amos, 112 So. (Fla.) 289.
TABLE N O . 1.—Comptrollers and Deputy Comptrollers of the Currency, dates of
appointment and resignation, and States whence appointed
No4

i

Name

Date of
i
Date of
appointment I resignation

State

COMPTROLLERS OF THE CURRENCY

McCulloch, Hugh
Clarke, Freeman
Hulburd, Hiland R
Knox, John Jay
Cannon, Henry W
Trenholm, William L
Lacey, Edward S
Hepburn, A. Barton
Eckles, James H
"
~
Dawes, Charles G
Ridgely, William Barret
Murray, Lawrence O
Williams, John Skelton- - Crissinger, D.'R__
Dawes, Henry M
Mclntosh, Joseph W

May- .9,1863
Mar. 21,1865
I Feb. 1,1867
Apr. 25,1872
__.! May 12,1884
Apr. 20,1886
I May 1,1889
Aug. 2,1892
Apr. 26,1893
Jan. 1,1898
Oct. 1,1901
Apr. 28,1908
{ Feb. 2.1914
j Mar. 17,1921
! May 1,1923
| Dec. 20,1924
!

___„_•

Mar. 8,1865 Indiana.
July 24,1866 New York.
Apr. 3,1872 Ohio.
Apr. 30,1884 Minnesota.
Mar. 1,1886
Do.
Apr. 30,1889 South Carolina.
June 30.1892 Michigan.
Apr. 25.1893 New York.
Dec. 31,1897 Illinois.
Sept. 30,1901
Do.
Mar. 28,1908
Do.
Apr. 27,1913 New York.
Mar. 2,1921 Virginia.
Apr. 30.1923 Ohio.
Dec. 17.1924 Illinois.
Do.

DEPUTY COMPTROLLERS OF THE CURRENCY

Howard, Samuel T
Hulburd, Hiland R
Knox, John Jay
Langworthy, John S
Snyder, V. P
Abrahams, J. D
Nixon, R. M .
Tucker, Oliver P
Coffin, George M
Murray, Lawrence O
Kane, Thomas P . .
Fowler, Willis J
Mclntosh, Joseph W
Collins, Charles W
Stearns, E. W
Await, F. G Gough, E. H
1

71284°—28

. .

_

Term expired,




14

„

| May 9,1863
J Aug. 1,1865
Mar. 12,1867
Aug. 8,1872
Jan. 5,1886
Jan. 27,1887
._ Aug. 11,1890
Apr. 7,1893
Mar. 12,1896
Sept. 1,1898
June 29,1899
July 1,1908
May 21,1923
July 1,1923
Jan. 6,1925
i July 1,1927
July 6,1927
2

Aug. 1,1865
Jan. 31,1867
Apr. 24,1872
Jan. 3,1886
Jan. 3,1887
May 25,1890
Mar. 16,1893
Mar. 11,1896
Aug. 31.1898
June 27.1899
Mar. 2,19232
Feb. 14,1927
Dec. 19,1924
June 30,1927

Died Mar, 2, 1923,

New York.
Ohio.
Minnesota.
New York.
Do.
Virginia.
Indiana.
Kentucky.
South Carolina.
New York.
District of Columbia.
Indiana.
Illinois.
Do.
Virginia.
Maryland.
Indiana.

200

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 2.—Names and compensation of officers and clerks in the office of the
Comptroller of the Currency, October 31, 1927
Designation

Name
Quinn, Edmund F
Bterndon, John G
Yeatman, John P
Avery, Antoinette M
Kane, William A
Gross, Clyde E
Burton, Russell O
Schreiner, Edmund E .____
Davenport, William S
Thompson, George
Fuller, J a n e L
Wanamaker, William H___
Bock, Carl
Frye, Ruby M
Johnston,T Edna E
Reese, W illiam H
Marble, George R
Pennock, Caroline L
Ellis, HarrieB
Sithens, Charles H
Wilson, Gordon K
Hanlon, Margaret T
Poultney, William W
Herndon, John W
Verrill, Harry M
Bulger, John C
Lewis, John O
Wilcox, Ephraim S
O'Mara, Vera L
Lovelly, Laura F
Tucker, Samuel M
Whelan, Majorie B
Murphy, Maud V
Tylor, Gertrude
Allred, Nell H
Bentley, Thomas B
Reed, S. E
.
Jones, Margaret E
Moyer .Alta T
Basinger, Walter S
Pumphrey, Carrie B
Friedrichs, Minna K
Hunt, Hermon
Jump, Mollie C .
O'Brien, May F
Griffiths, Dolly S
Trumbull, Annette M
McBride, Olga Mae
Wright, Nellie K
Andrews, Ettie F_
Hilleary, Rua
Smith, Helen M
Deal, Jessie F_.
Heizer, Helen V
Heizer, Nannie B
Nolan,LidaA
...
Schiller, Ernestine H
Young, Grace E
Munnerlyn, Joseph A
Mortimer, Mary IT
Beall, Clara M .
Buckley, Regina C
Eriekson, Bertha V._
._
Walker, Johanna S
Jamieson, William G
Baldwin, Wallace N
B urlingame, Delia J
Hpwson, Ella
.
Lowell, Harriet P
Jorgenson, John A
Haley, John R_
Murphy, Clara M
Kelly, George
Crocker, Henry A. D
Nichols, Sada__
Wigginton, Norval P
Bales, Anna S
Barry, Gertrude I
Brumbaugh, Delia L_ _ _
_
Chisholm, Elizabeth
Colburn, Nellie AVernon, Josephine
Hopkins, E d n a - - -




Administrative officer.
Senior administrative assistant.,
do
___.
_do_
.do.
Administrative assistant
Junior administrative assistant.,
do
do
Principal clerk.
do
_do_
.do.do.doJunior administrative assistant..
Senior clerk
doPrincipal clerk _
do
Senior clerk
.doSenior clerk-stenographer _
.do
Clerk
do_
.doClerk-stenographer
_.
Head operator, office devices.
Senior clerk-stenographer
doSenior clerk
Senior clerk-stenographer_
Clerk.
_do_do_
.doClerk-stenographer.
Clerk-stenographer,
.doAssistant clerk,
dodoSenior operator, office devices.
Clerk-stenographer
.,
do
ClerkClerk-stenographer
Clerk.
._._ do
Assistant clerk.. _
do
.do.,
.do.,
.do..
_do_.
.do.,
.do..
Assistant clerk-stenographer. _
Head typist
Senior operator, office devices,
.do
!
do
I
do
Junior clerk.
!
do
.do.,
-do.,
-do..
.do.,
.do.,
-do..
Assistant clerk
_
do
Senior stenographer.
Assistant clerk
do
_
.do..
.do.,
.do..
.do..

Salary
$4,400
3,400
3,400
3,000
3,000
3,000
3,000
3,000
2,700
2,500
2,500
2,400
2,400
2,400
2,400
2,400
2,400
2,300
2,300
2,200
2,200
2,100
2,100
2,100
2,100
2,040
2,040
2,040
2,040
2,040
2,000
2,000
1,920
1,920
1,860
1,860
1,860
1,860
1,860
1,860
1,860
1,860
1,860
1,860
1,860
1,800
1,740
1,740
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,680
1,620
1,620
1,620
1,560
1,560
1, 560
1,560
1, 560
1,560
1,560

REPORT OF THE COMPTROLLER OF THE CURRENCY

201

TABLE N O . 2.—Names and compensation of officers and clerks in the office of the
Comptroller of the Currency, October 31, 1927—Continued
Designation

Name
McCrone, Clara O'B
McKinney, Elva L___
Quackenbush, Dorothy S_
Magruder, Edith P___
Dailey, William
Weeks, Katherine
Minogue, B . Pearl
Darby, Dorothy C
Dodge, Victor H
Horsey, Olga S
__
Israel, F r a n k T
Davidson, Julia
Tschiffely, Lacey B. R
Elmore, Annie L
Moncure, Frances W
Mueller, Pauline
Taylor, Mathilda S
Chiles, Charles R
Haygood, Ethel
Sazama, Alice R_._
_
Taylor, Walter M
D yson, Aline
Mallet, Katherine H
Wilson, Mildred C
Parsons, Edith N
Easterday, William A
Haymon, N . Mabel
O'Donnell, Josephine..
Keim, Charles C.._
_
Kellam, Margaret M—
Harleston, Catherine
Harris, John E
Koontz, Clara E
Smith, Charles A
Watts, Metta F
Frock, Anna C
Marks, Grace
Cook, George M
Dillard, John
Chamberlain, Robert J—
Kemether, Eva C.
Canavan, Josephine
Dillon, Minnie L .
Hueter, Marion R
Brown, Edith L
White, Grace
Curtin, Anna E
Wolfe, Alice M
_
Ridgeway, Rose C_._
_._
Kennett, Edna
Burke, Madeline V
Dowden, Eleanor C
DuRant, Anna K
Dutrow, Mary
_
Duvall, Grace N
Mennel, Theresa
Pennock, Emily E
Reese, Aline
Roberts, Victoria
Sheward, Adelaide
Miller, Bellum
Settle, May C. W
Simms, Harry E
Braxton, Henry
Mann, Harry
Blount, Silas
Whiteman, Edgar
Haley, Mary C
Hall, James
_
"
Taylor, John___
_
Carroll, John I
Mims, Alvin E__
Holland, Thomas
Blount, Joseph
Mundie, James F
Hill, Edgar. _
Barrett, Lester J
Moss, Benjamin F__
._
Thompson, Frank. _
Poles, James
Powell, Queen. _
Taylor, Mary F




..,
.
__
_
_

___

.__

_.

Assistant clerk.
..do..
-do.,
.do..
do
Senior stenographer,
do..
Assistant clerk-stenographer..
do
Assistant clerk
..—do
do
Junior clerk.
— -do
do
Under clerk
Assistant clerk-stenographer.,
do
..do..
Senior stenographer
Junior operator, office devices.
do..
Senior typist
Junior mechanic.
Junior clerk
do
..do..
..do..
..do.
_do_.
..do..
..do..
do
do
Under clerk.
-do..
..do..
Junior operator, office devices.
..do.
Junior clerk
_
do
Junior operator, office devices.
Junior clerk..
.-doUnder clerk
Junior clerk
Junior clerk-typist.
Under clerk
.do.
-do.
..do.
-do.
-do.
_do.
.do.
_do.
_do_do.
_do.
-do.
.do
Messenger..
Under clerk..
Messenger..
do.
Underclerk...
Messenger. _.
.do
.do.
-do.
_do.do_
.do.
.do.
do
Minor mechanic_
Junior laborer
Minor domestic attendant.
do—

Salary
$1,560
1, 560
1, 560
1, 560
1, 560
1, 560
1,560
1, 560
1,560
1,560
1,500
1, 500
1, 500
1,500
1.500
1, 500
1, 500
1. 500
1,500
1,500
1,500
1, 500
1, 500
1,500
1,500
1,500
1,440
1,440
1,440
1,440
1, 440
1,440
1,440
1,440
1,440
1,440
1,440
1, 440
1,440
1,440
1,440
1,330
1,380
1,380
1, 380
1,380
1,380
1,380
1, 320
1,320
1,320
1, 320
1,320
1,320
1,320
1,320
1, 320
1, 320
1, 320
1,320
1,260
1,260
1,260
1,260
1,200
1,200
1,200
1,140
1,140
1,140
1,140
1,140
1.140
1,140
1,080
1,080
1,020
1,020
1,020
1,020
477
47T

202

BEPOBT OF THE COMPTROLLER OF THE CTJEKUNCY

TABLE N O . 3.—Number of national banks organized since February 25, 1863,
number passed o<ut of the systein, and number in operation October 81, 1927
Under
Under
Under
Under

act of Feb. 25, 1863
act of June 3, 1864
gold currency act of July 12, 1870-.
act of Mar. 14, 1900

456
8,056
10
. . . 4,614

Total number of national banks organized
Number reported in voluntary liquidation
Number passed into liquidation upon expiration of corporate existence
Number consolidated under act of Nov. 7, 1918
Number placed in charge of receivers L
Total number passed out of the system

.

;
____
__

...

Number now in operation

13,136
3*800
_. 208
191
_ 1,105
5, 304

________

7,832

TABLE N O . 4.—Authorized capital stock of national banks on the first day of each
month from January 1, 1920, to November 1, 1927, United States bonds on deposit
to secure circulation, circulation secured by bonds on deposit, the amount of lawful
money on deposit to redeem circulation, and national-bank notes outstanding,
including notes of national gold banks
[For prior years see annual report 1920]

Date

1920
January.
_-.
February
March
April
May
__:..
June
.__
July....:
.
August
..__..
September
October
November
December
January
February
March
April
May.
..
June.
.
July.
August..
September
October
November
December.

1921
__
.

1922
January
._
February
...
March
April....._..,..
May..........4..
June...-.-.....July......
August. _ - _ _ _ j . .
September... J._
October
^..
November.-_j_.
December. . - J _ -

Number of
banks

United
Circulation
Lawful
money OH
Authorized States bonds bysecured
on deposit
United deposit to
capital stock
to secure
States
redeem
circulation
circulation
bonds

7, 948 $1,161,439,165 $699, 357, 550
7, 955 1,177, 719,165 699, 936, 250
7,978 1,184,809,165 701,469, 450
8,009 1,195,309,165 702,846, 200
8,031 1,217, 074,265 704,884, 000
8,072 1,223,278,265 706,307, 750
8,093 :, 229, 429, 765 707, 963, 400
,242.084,765 709,436, 400
8,111
711,000, 900
r 252, 519,765
s
,
£,144 : 255, 929,765 711,839, 000
,
8,157 : 273, 949,765 712,066,500
,
8,166 : 274, 859, 765 714, 888, 640

689, 748, 578
691, 498,920
692, 104,195
686, 225,000
689,327,635
698,099,990
698, 592,128
699,461,435
704,732,185
706, 600,480

$3£, 649,434 $724,338,692
33,241, 792 733,108,190
32,892,677 722,641,255
32, 439, 832 723,938,752
31, 288, 577 723,392, 772
31, 039,887 717,264,887
29,710,095 719,037,730:
28,363,714 726,463,71)4
27,403,924 725,996,052
27, 015,647 726,477,082
27,817,444 732,549,629
27,410, 317 734,010,7W

8,173
8,179
8,185
8,181
8,184
8,179
8,178
8,181
8,187
8,187
8,179
8,188

, 272.464, 765
. 272, 670,565
,
, 276, 780,565
,271,285,565
, 277, 675,565
, 274,445,565
, 276, 720, 565
, 281, 770,565
, 283, 035, 565
, 285,120, 565
, 281, 995, 565
1,283, 755, 565

715,325,440
714,973,190
716,966,190
719,049,440
720,012, 440
722, 491, 590
722,898,440
723, 675,190
724,770,490
727,002, 490
727, 512,490
728,551, 240

695, 900, 770
689, 592,883
697, 728, 580
702, 948,007
691, 643,480
709, 657,145
712,763,865
702, 570,407
711, 000, 205
715, 836, 355
716,304, 820
723,023, 965

27, 376, 452
30,061,044
30, 065, 284
29, 870,477
32,172, 872
30,936,214
30,526, 509
29,848, 772
28,148,669
27, 402, 759
26, 984,027
26,283,132

723,277,222
719, 653,927
727,793,864
732,818,484
723,816,352
740, 593,359
743,290,374
732,419,179
739,148,874
743,239,114
743,288,84?
749,307,097

8,207
8,213
8,217
8,231
8,250
8,263
8,274
8,265
8, 265
8,262
8,262
8,264

1, 286, 265, 565
1,288, 220, 565
1,296, 345, 565
1,298,961,565
1, 303, 031, 565
1, 305, 931, 565
1,315,476,565
1,317,271,415
1,316, 017, 915
1,314,938,715
1,316,968,715
1,317,668,715

728, 523, 240
729,425,740
729,702,240
730,016, 940
731,693,690
733,876, 590
734,546,300
735,160, 690
735,460, 690
737; 501, 940
737, 660, 690
739,018,690

724, 235, 815
724,480,758
727, 465, 523
727,838, 900
729, 526,135
730,203,870
732, 585,640
732,467,585
733, 623, 525
734,465,283
734, 520,475
736,065,365

25,932,109
25,130,609
24,569,959
24,840, 522
25,096,414
25,696,832
25,616,387
25,603,977
26,082,024
26,285, 914
26,158,712
25,433, 762

750,167,924
749,611,367
752,035,482
752,679,422
754,622,549
755,900,702
758,202,027
758,071,562
750,705,54ft
750,751,191
760,679,187
761,499,. 127

* Exclusive of those restored to solvency.




$691, 689,258

Total
nationalbank notes
outstanding

REPORT OF THE COMPTROLLER OF THE CURRENCY

203

TABLE N O . 4.—Authorized capital stock of national banks on the first: day of each
month from January 1, 1920, to November 1, 1927, etc.—Continued.

Date

1923

January...
February...
March
April
May
June
July
August
September..
October .
November..
December..

1924

Number of
banks

Authorized
capital stock

8,261 i$l, 328, 558,715
8,258 1,321,718,715
8,260 1,325, 058,715
8,259 1,327, 216,215
8,268 1,330, 171,215
8,275 1,333, 526,215
8,276 1,338, 571,215
8,273 1,341,286,215
8,273 1,342, 911,215
8,275 1,342,071,215
8,264 1, 342, 728, 715
8,247 1,342,473, 715

United
I Circulation
State bonds
secured
on deposit
b y United
to secure
States
circulation
bonds

Lawful
money on
deposit to
redeem
circulation

Total
nationalbank notes
outstanding

$738,257,440 $735, 281, 275 $26, 846, 812 $762,128,087
739,329, 840 734, 541,173 29, 209, 789 763, 750, 962
741, 077, 590 738, 423, 517 28, 620,187 767, 043, 704
742, 879, 540 739, 984, 523 27,197, 981 767,182, 504
742,823, 590 740, 099, 541 27, 868, 731 767, 968, 272
744,034,190 742,178, 351 27,829,641
770, 007, 992
744,654, 990 719,103, 625 28,336, 094 747,439, 719
744, 848, 940 740, 986, 663 28. 823, 714 769, 810,377
745, 585, 080 740, 323, 568 28, 621, 244 768, 944, 812
770,322,007
746,780,830 742,184, 915 28,137,092
746,562,330 743, 806,385 28, 799, 884 772, 606,289
746,778,030 743, 984, 275 29, 450, 769 773,435,044

8,234
8,219
8,188
8,164
8,153
8,137
8,125
8,117
8,109
8,108
8,098
8,092

1,338, 513, 715
1,336,133, 715
1,339,378, 715
1.341, 776,215
1.342, 071,215
1.340, 916,215
1,340,141, 215
1,342,096,215
1.341, 636,215
1.342, 606,215
1,335,766,215
1,334,891,215

746, 577, 780
747,256,230
748,875,180
749, 974,180
750,676, 680
750,113, 430
750,858, 930
746,611, 640
742,462,390
741, 239, 890
739,842, 890
737,635, 790

740,521, 752 31,045,227
742,670,537 30,126,232
743,454,758 30,964,444
745,171,676
31,162,366
745, 795,653 31,611,339
745,029, 518 32,460,609
744, 953, 710 33,058, 069
740, 549, 740 36,537, 849
737,141,058
40,052,136
736,557,660 39,269,184
735,602,435
38, 679,189
733,995,581
40,152,976

771,566,979
772,796,769
774,419,202
776,334,042
777,406,992
777,490,127
778,011,779
777,087,589
777,193,194
775,826,844
774,281,624
774,148,557

1925
January...
February...
March
April
May
June
July
August
SeptemberOctober. '_..
NovemberDecember. .

8,090
8,078
8,068
8,066
8,084
8,103
8,112
8,117
8,115
8,120
8,118
8,114

1,339, 093,715
1,342, 563,715
1,356, 043,715
1,359, 768,715
1,369, 553, 715
1,372, 738, 715
1.376, 973, 715
1.377, 358, 715
1.379, 623, 715
1,381, 983,215
1,381, 978,215
1.380, 743,215

731,613,630
725,171,780
666,943,330
665,608,330
666,010,330
665,502,880
665,061,330
665,227,130
665,810,130
665,542,630
666,185.130
666,087,630

727,175, 641 44,871,176
722,092,263
47,748,139
663,324,911 100,532,366
661,613,281
93, 597,406
661,397, 558 86,028,261
661,293,895
78,275,574
660, 501,393 72,864,681
660,341,413
66,214,271
662,186,083
61,476,914
661,380,320
56,543,569
662,538,483
51,264,261
662,622,888
48,127,556

772,046,817
769,840,402
763,857,277
755,210, 687
747,425,819
739,569,469
733,366,074
726, 555,684
723,662,997
717,923,889
713,802,744
710,750,444

1926
January-..
February. _.
March
April
May
June.July-.
August
SeptemberOctober
NovemberDecember. .

8,092
8,077
8,070
8,059
8,054
8,043
8,038
8,031
8,025
8,018
8,008
7,985

1,385,648,215
1,392,178,205
1,397,304,455
1,400,003,655
1,418,643,655
1,420,271,155
1,420,087,405
1,422,654,905
1,422,749,905
1,421,369,905
1,422,132,405
1, 413,850,405

666, 273,130
665, 363, 590
665, 235,640
665,568,140
665,686,140
665,465,140
665,616,390
665,941,890
665,889,940
665,830,440
665,492,880
666,278,180

658,362, 223
661, 298,333
661,244, 347
661,016, 470
661,664,478
660, 677,175
660,986,560
661,434,195
659,760,467
660,555,797
661,742,830
662,764,613

46,194,204
45,050, 979
45,059,372
44,211,319
42,519,201
42,697,987
41,682, 684
40,714, 779
39,768, 777
39,178,467
38,971,702
37,927,974

704,556,427
706,349,312
706,303, 719
705,227, 789
704,183,679
703,375,162
702,669,244
702,148,974
699,529,244
699,734,264
700,714,532
700,692, 587

7,972
7,950
7,927
7,894
7,863
7,845
7,844
7,842
7,831
7,833
7,832

1,417,160,405
1,421,452,905
1,445,067,905
1,474,432, 905
1,470,085,905
1,474,055,905
1,481, 279,615
1,485, 989,615
1,486,712,615
1,500, 437,615
1,502, 697, 615

666,211,440
664, 503, 940
666,138, 640
665,641, 990
665, 724, 930
667,095,680
666,991,130
667,156, 290
667,143, 790
666,985, 790
666,873, 290

661,046,465
657,364,790
660,366,240
661,673, 603
662, 238,833
663,156, 720
661,288, 545
661,550, 768
663, 747,178
662, 742, 593
663,167, 030

36,721,464
37,856,759
36,825,184
38,251,364
39,074,404
42, 777,217
42,857,722
42,967,269
41,052,614
40,537,019
39,825,664

697,767,929
695,221,549
697,191,424
699,924,967
701,313,237
705,933,937
704,146,267
704,518,037
704,799,792
703,279,612
702.992,694

January. _.
February...
March
April
May.-.
June..
July...
August
September..
October
November..
December..

January...
February...
March
April
May
June
July
August
September..
October
November..

1927

NOTE,—Notes redeemed but not assorted not included in circulation outstanding.




204

REPORT OF THE COMPRTOLLER OF THE CURRENCY

TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to
October 31, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital
Name and location of bank

Date of
liquidation

First National Bank of Browns Valley, Minn. (7341), succeeded by "Cnion State
1926
Bank of Browns Valley-..
Oct. 14
National Stock Yards National Bank, National City, post office, National Stock
Yards, HI. (9118), succeeded by The National Stock Yards National Bank of
National City
_ _ Oct.. .26
American Exchange-Pacific National Bank, New York (1394), succeeded by
American Exchange-Pacific Bank (which merged with Irving Bank & Trust Co,
and formed American Exchange-Irving Trust Co
Noy. 8
First National Bank in Warren, 111. (9096), absorbed by State Bank of Warren
Nov. 5
First National Bank of Ashton, Iowa (11644) succeeded by The First National
Bankin Ashton
... _
_„ Nov. 15
First National Bank of Boyntcn, Fla. (12841)
1 Nov. 19
National Bank of Wahpeton, N. Dak. (4106) succeeded by The National Bank in |
Wahpeton
; Nov. 18
First National Bank of Albany, N. Y. (267) succeeded by First Bank of Albany
(which converted into First Trust Co. of Albany)
_.
_.
Nov. 29
Lyon County National Bank of Marshall, Minn. (4595) succeeded by Marshall
State Bank, Marshall
._. D e c 1
Collinsville National Bank, CollinsviUe, Okla. (10280) absorbed by The First
Nov. 10
National Bank of Collinsville
Blackwell National Bank, Blackwell, Okla. (12038), succeeded by Blackwell ExDec. 2
change Bank, Blackwell
Dec. 20
First National Bank of Norton, Tex. (12415)
.
First National Bank of Wessington, 8. Dak. (8325), succeeded by The Citizens
...do—-National Bank of Wessington
First National Bank of Dillwyn, Va. (11480), absorbed by Merchants & Planters
D e c 23
National Bank of Dillwyn
West Hollywood National Bank of Crescent Heights, Calif. (11880), post office, Los
Angeles, Calif., absorbed by Pacific Southwest Trust & Savings Bank of Los
Dec. 18
Angeles, Calif
Merchants National Bank of St. Cloud, Minn. (4797), absorbed by The American
National Bank of St. Cloud
.-. Dec. 28
West Branch National Bank of Williamspoit, Pa. (1505), succeeded by Lycoming
Dec 31
Trust Co.
Lycoming National Bank of Williamsport, Pa. (2227), succeeded by 'Lycoming
—do.—.
Trust Co., Williamsport..
"
First National Bank of Stayton, Oreg. (11917), absorbed by First State & Savings,
Bank of Stayton...
__.
_..,__. ...do
Security National Bank of Newkirk, Okla. (12206), absorbed by The Eastman
National Bank of Newkirk
-,_•
_,do
First National Bank of Wynona, Okla. (11396),- absorbed by The Wynona National Bank, Wynona
Dec. 16
Home National Bank of Caldwell, Kans. (11145), absorbed by Caldwell State
Bank, Caldwell
.
Oct. 18
Shenandoah National Bank, Shenandoah, Iowa (2679), succeeded by Shenan1927
Jan. 21
cloah National Bank, Shenandoah
Tremont National Bank, Tremont, 111. (9325), absorbed by The First National
Bank of Tremont
. ..do..
T
First National Bank of Hartsville, S. C. (10137), absorbed by Bank of Hartsville--! Jan. 18
"|
Citizens National Bank in Kaufman, Tex. (12763), absorbed by The First Na- j 1926
tional Bank of Kaufman
; Dec. 20
Clark National Bank of Newton, Iowa (10726), absorbed by Jasper County Sav- j
ings Bank of Newton
.
,__j Oct. 20
City National Bank of Linton, N. Dak. (11665), absorbed by Peoples State Bank j
of Linton
Oct. 30
Citizens National Bank & Trust Co. of Cincinnati, Ohio (2495), absorbed by
The Fourth and Central Trust Co. of Cincinnati (which changed its title to
1927
The Central Trust Co.)..
Jan. 31
Paoli National Bank, Paoli, Pa. (12358), succeeded by Paoli Bank & Trust Co.,
...do.
Paoli..
Moorestown National Bank, Moorestown, N. J. (3387), absorbed by Burlington
County Trust Co. of Moorestown
....
.
.
Feb. 1
r
Farmers National Bank of Tyrone, Okla. (12163), absorbed by The Farmers &
Merchants National Bank of Hooker, Okla
...
First National Bank of Wetonka, S. Dak. (11441), absorbed by The First National Bank of Aberdeen, S. Dak
-.. Jan. 18
First National Bank of Athens, Ala. (6146), absorbed by The Farmers & MerJan. 11
chants Bank of Athens
City National Bank of Lincoln, Nebr. (5213), succeeded by City National Bank
Jan. 27
in Lincoln.
First National Bank of Brookneal, Va. (10835), absorbed by Peoples National
Jan. 11
Bank of Brookneal
County National Bank of Lincolnton, N. C. (8184), absorbed by Commercial
Feb. 8
Bank & Trust Co. of Gastonia, N . C
-




Capital

$25,000
500,000
7,500,000
50,000
25,000
50,000
.50,000
600,000
50,000
25,000
100,000
25,000
25,000
50,000
25,000
100,000
500,000
200,000
25,000
30,000
25,000
25,000
100,000
40,000
25,000
100,000
50,000
25,000
2,000,000
50,000
50,000
25,000
25,000
50,000
500,000
50,000
100,000

REPORT OF THE COMPTROLLER OP THE CURRENCY

205

TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to
October 31, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued
Name and location of bank

Date of
liquidation

Capital

Peoples National Bank of Farmington, N . Mex. (12514), absorbed by The First
National Bank of Farmington.__
_
__
_

1926
Dec. 20

$25,000

Exchange National Bank of Hastings, Nebr. (3086), absorbed by The First National Bank of Hastings
Citizens National Bank of Whitney, Tex. (7915), absorbed by The First National
Bank of Whitney. ___
_
„_
Fifth-Third National Bank of Cincinnati, Ohio (20), absorbed by The Union
Trust Co. of Cincinnati
___

1927
Feb. 10

100,000

Feb. 11

50,000

Feb. 23

3, 000,000

Peoples National Bank of Henryetta, Okla. (12629), absorbed by American Exchange Bank of Henryetta
_

1926
Nov. 10

100,000

Durant National Bank, Durant, Okla. (5590), succeeded by The Durant National
Bank in Durant.
First National Bank of Hanska, Minn. (11288), absorbed by State Bank of Hanska.
Farmers National Bank of Goodland, Kans. (7882), absorbed by The First National
Bank of Goodland.._
.
_
Merchants National Bank of Dickinson, N. Dak. (8201), absorbed by The First
National Bank of Dickinson...
-_..

1927
Feb. 8
Feb. 21

100,000
25,000

Feb. 12

50,000

Mar. 1

50,000

Central National Bank in Dallas, Tex, (12650), absorbed by North Texas National
Bank in Dallas..

1926
Nov. 30

500,000

1927
Inter State National Bank of Hegewisch, 111. (8605), post office, Chicago, absorbed
Feb. 11
by Hegewisch State Bank, Hegewisch
25,000
East Bay National Bank of Oakland, Calif. (12937), absorbed by Liberty Bank of
Feb. 21
1, 000,000
America, San Francisco, Calif.1
First National Bank of Walterboro, S. C. (9849), absorbed by Colleton Banking
Mar. 5
75,000
Co., Walterboro
First National Bank of Belt, Mont. (11673), absorbed by Farmers & Miners State
Jan. 11
30,000
Bank of Belt
Farmers National Bank of Alexandria, Minn. (5859), absorbed by The Farmers
Mar. 1
100,000
National Bank in Alexandria
_
Waxahachie National Bank, Waxahaehie, Tex. (4379), absorbed by The Citizens
Mar. 7
200,000
National Bank of Waxahachie..^
,—
First National Bank of Manteca, Calif. (11720), absorbed by Liberty Bank of
1
Feb. 24
100,000
America, San Francisco, Calif.
First National Bank of Newsome, Tex. (10661), absorbed by First State Bank of
Feb. 12
25,000
Pittsburg, Tex
First National Bank 2in Monrovia, Calif. (7705), absorbed by Bank of America,
Mar. 7
50,000
Los Angeles, Calif. ..
—
First National Bank of Arcadia, Calif. (11250), absorbed by Bank of America, Los
2
Mar. 8
25,000
Angeles, Calif.
.
United States National Bank 2 of Sawtelle, Calif. (12226), absorbed by Bank of
50,000
America, Los Angeles, Calif.
First National Bank of Roseville, Calif. (11961), absorbed by Liberty Bank, San
1
50,000
Mar. 10
Francisco, Calif.
Merchants & Manufacturers National Bank of Newark, N. J. (1818), succeeded
1,350,000
Mar. 19
by Merchants Trust Co. of Newark
Ontario National Bank, Ontario, Calif. (9935), absorbed by Liberty Bank of
Mar. 8
150, 000
America, of San Francisco, Calif. 1
*
_•
„J» n
» T^
-.j~.
n«i:r
25,000
First National Bank of Slayton, Minn. (5256), absorbed by State Bank of Slayton. Mar. 2
35,000
First National Bank of Pocahontas, Va. (7847), absorbed by Bank of Pocahontas.. Mar. 10
First National Bank of Loving, N . Mex. (11711), absorbed by The Carlsbad
g,
25,000
Feb. 24
N i l B k C l b d N Mex
M
National Bank, Carlsbad, N.
First National Bank of Winters, Calif. (10133), absorbed by Liberty Bank, San
1
1.'.
75,000
Mar. 15
Francisco, Calif. '
F
Clif
First National Bank of Sansalito, Calif. (12453), absorbed by Liberty Bank, San
50,000
Francisco, Calif.i
...do._.
First National Bank of Cherryville, N. C. (9548), succeeded by The Cherryville
100,000
National Bank, Cherrvville
Mar. 21
Citizens National Bank* of Sallisaw, Okla. (10474), absorbed by The American
30,000
National Bank of Sallisaw
Feb. 1
Livestock National Bank of Hettinger, N. Dak. (11677) absorbed by Adams County
25,000
Mar. 14
State Bank of Hettinger--?
Farmers and Merchants National Bank of Redondo, 3
Redondo Beach. Calif. (7895)
50,000
Mar. 11
absorbed by Bank of America, Los Angeles, Calif.
Citizens National Bank of South San Francisco, Calif. (12364), absorbed by Liberty
1
50,000
Bank of San Francisco, Calif.
Mar. 14
Planters and Merchants National Bank of Commerce, Tex. (6224), absorbed by j
50,000
The First National Bank of Commerce
I Mar. 15
1
Consolidated with Bank of Italy and became a branch of Bank of Italy National Trust; & Saving Association, San Francisco, Calif.
3
Consolidated with Liberty Bank of America of San Francisco which was consolidated with Bank of
Italy and became a branch of Bank of Italy National Trust & Saving Association, San Francisco, Calif.
rtA




206

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 5.—National banks reported in liquidation from November 1, 1926', to
October SI, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued
Name and location of bank

Date of
liquidation

1927
Apr. 1
First National Bank of Winnebago, Nebr. (9671)
Commercial National Trust & Savings Bank of Los Angeles, Calif. (6864), absorbed by Bank of America, Los Angeles 2
Mar. 15
Commercial National Bank of Berkeley, Calif. (13010), absorbed by Liberty Bank
of San Francisco, Calif.1
__
Mar. 22
New First National Bank in 1 Santa Paula, Calif. (12856), absorbed by Liberty
Bank, San Francisco, Calif. ..
.. _
_
__do
First National Bank of Okarche, Okla (11894), absorbed by The First Bank of
Okarche
_.. Jan. 18
Breckenridge National Bank, Breckenridge, Minn. (6335), absorbed by Farmers
& Merchants State Bank of Breckenridge
Feb. 10
First National Bank of Bainville, Mont. (10985), absorbed by Farmers State
Bank of Bainville
__..
Feb. 28
Dinuba National Bank, Dinuba, Calif. (12929), absorbed by Pacific South West
Mar. 19
Trust & Savings Bank of Los Angeles, Calif
Griswold National Bank of Detroit, Mich. (12847), absorbed by First State Bank
Mar. 21
of Detroit
Hope National Bank, Hope, N. Dak. (8395), succeeded by The Security National
Apr. 1
Bank of Hope
Idaho Falls National Bank, Idaho Falls, Idaho (11278), absorbed by Anderson
Mar. 26
Brothers Bank, Idaho Falls
_
First National Bank of Locust Grove, Okla. (12103), absorbed by First State Bank
Jan. 24
in Locust Grove..
_
Commercial National Bank of Santa Maria, Calif. (121*13), absorbed by Liberty
Mar. 29
Bank, San Francisco, Calif.1
National Bank of Commerce 2in Pasadena, Calif. (12735), absorbed by Bank of
Apr. 5
America, Los Angeles, Calif.
Farmers & Merchants National Bank of Mountain View, Calif. (11532), absorbed
Mar. 31
by Liberty Bank of San Francisco, Calif, i
Fruit Growers National Bank of Waisonville, Calif. (11560), absorbed by Liberty
Mar. 15
Bank of San Francisco, Calif.1
_
'
_
First National Bank of Chatham, N . J. (11943), succeeded by Chatham Trust Co.,
Apr. 14
Chatham
_
_
First National Bank of Ocean Park, Calif. (7690), absorbed by California Bank,
Mar. l
Los Angeles, Calif-..
__
First National Bank of Washington, Pa. (586), absorbed by Real Estate Trust Co.
Apr. 16
of Washington
City National Bank of Kearney, Nebr. (3958), succeeded by City National Bank in
Kearney
_
... Mar. 30
Farmers and Merchants National Bank of Farmersville, Tex. (6011), succeeded by
The Farmersville National Bank of Farmersville.
! Apr. 12
Central National Bank of Kearney, Nebr. (6600), succeeded by City National '
Bank in Kearney...
_
*
__. Mar. 30
First National Bank of Santa Cruz, Calif. (8403), absorbed by Liberty Bank of
San Francisco, Calif.1
Apr. 12
Osage National Bank, Osage, Iowa (1618), absorbed by Osage Farmers National
Bank, Osage
_
_
Apr. 18
National Bank of1 Martinez, Calif. (12511), absorbed by Liberty Bank of San
Francisco, Calif.
_
Apr. 12
Encinal National Bank of Alameda, Calif. (12893), absorbed by Liberty Bank of
San Francisco, Calif.1
Apr. 5
First National Bank of Madiil, Okla. (5404), succeeded by The First National
1926
Bank in Madiil
. Dec. 31
Marshall County National Bank of Madiil, Okla. (11192), succeeded by The First
National Bank in Madiil
1
.do-

Capital

$25,000
2,000.000
250,000
200,000
25,000
25,000
25,000
100,000
2,000,000
50,000
100,000
25,000
100,000
200,000
100,000
100,000
25,000
50,000
400,000
100,000
75,000
50,000
100,000
50,000
50,000
100,000
50,000
60,000

Citizens National Bank of Casper, Wyo. (11683), absorbed by Wyoming Trust Co.
1927
Apr. 19
of Casper
100,000
Beverly National Bank of Beverly Hills, Calif. (12647), absorbed by Liberty Bank
..do
100,000
of America of San Francisco, Calif.1
First National Bank of Pineville, La. (12527), succeeded by Security Banking Co.
50,000
Mar. 15
of Pineville.
300,000
Second National Bank of Reading, Pa. (2552), absorbed by Reading Trust Co
Apr. 30
First NationalBank of Blossom, Tex. (5733), succeeded by The Blossom National
Bank
_
60,000
Apr. 20
City National Bank of Lafayette, Ind. (5940), succeeded by City Trust Co.,
100,000
Apr. 30
Lafayette
_
National Bank of Humboldt, Nebr. (7065), succeeded by Nebraska State Bank
30,000
Apr. 28
of Humboldt
First National Bank of Cooper, Tex. (4500), succeeded by The First National
75,000
..do.....
Bank in Cooper..
_
_
_
1 Consolidated with Bank of Italy and became a branch of Bank of Italy National Tr. & Sav. Association, San Francisco, Calif.
2
Consolidated with Liberty Bank of America of San Francisco, which was consolidated with B a n t of
Italy and became a branch of Bank of Italy National Tr. & Sav. Association, San Francisco, Calif.




REPORT OF THE COMPTROLLER OF THE CURRENCY

207

TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to
October 81, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued
Name and location of bank

Date of
liquidation

Capital

Colonial National Bank of Connellsville, Pa. (7445), absorbed by Title & Trust
1927
$100,000
Co. of Western Pennsylvania. Connellsville
_
Apr. 30
First National Bank of Dolores, Colo. (10770), absorbed by J. J. Harris & Co..
25,000
bankers, Dolores....
May
Security National Bank of Sentinel. Okla. (12298), absorbed by First National
25,000
Bank of Sentinel--.
Apr.
First National Bank of Hanna, Wyo. (11666), succeeded by Hanna State & Savings
40,000
Bank, Hanna__
May
First National Bank of Tipton, Ind. (6251), absorbed by The Citizens National
100,000
Bank of Tipton
May
Northwestern National Bank of Portland, Oreg. (10300), absorbed by The First
2,000,000
National Bank of Portland and The United States National Bank of P o r t l a n d - May
First National Bank of Pescadero, Calif. (11520), absorbed by Liberty Bank of
25,000
America of San Francisco, Calif.1
_
_
Apr. 23
Quassaick National Bank of Newburgh, N. Y. (1213), absorbed by The Highland
300,000
National Bank & Trust Co. of Newburgh
May 9
First National Bank of Stronghurst, 111. (5813), absorbed by State Bank of Strong75,000
hurst.
_
_
_
_
_
May 10
First National Bank of Pittsburg, Calif. (11359), absorbed by Liberty Bank of
75,000
San Francisco, Calif.1
May 4
Hurricane National Bank of Hurricane, W. Va. (11670), absorbed by Putnam
50,000
County Bank of Hurricane
_
May 14
Broadway National Bank of Newburgh, N . Y. (12785), absorbed by The Highland
100,000
National Bank & Trust Co. of Newburgh
May 9
Farmers National Bank of Sheridan, Ind. (6070), absorbed by The Sheridan
60,000
...do
National Bank, Sheridan
_
._
State National Bank of Honey Grove, Tex. (10617), succeeded by The American
125,000
May 7
National Bank of Honey Grove
Hugo National Bank, Hugo, Colo. (10786), absorbed by The First National Bank
35,000
May 17
of Hugo
__
_
25,000
First National Bank of Pixley, Calif. (11371)__.
First National Bank of Crawford, Nebr. (6900), succeeded by Crawford State May 27
50,000
Bank, Crawford
Union National Bank of San Diego, Calif. (10435), absorbed by Bank of America, Mar. 26
300,000
Los Angeles, Calif.2
_
_
.,
San Leandro National Bank, 1 San Leandro, Calif. (12802), absorbed by Liberty Mar. 17
100,000
Bank, San Francisco, Calif. .
_.
First National Bank of Sheridan, Ind. (5296), succeeded by The Sheridan National May 12
75,000
Bank
National Bank of Jersey Shore, Pa. (6155), absorbed by Jersey Shore Trust Co., May 16
125,000
Jersey Shore
St. Matthews National Bank, St. Matthews, S. C. (10651), succeeded by The June 1
160.000
South Carolina Savings Bank, St. Matthews
May 18
25,000
First National Bank of Wyndmere,N. Dak. (7166), absorbed by Bank of Wyndmere June 10
Chickasaw National Bank of Purcell, Okla. (4756), absorbed by The McClain
100,000
County National Bank of Purcell
June 21
American National Bank of Newark, N . J. (9605), absorbed by Fidelity Union
500,000
Trust Co. of Newark
June 29
Citizens National Bank & Trust Co. of Newark, N. J. (12576), absorbed by Fidelity
200,000
Union Trust Co. of Newark
June 29
First National Bank of Bremen, Ohio (9768), absorbed by Bremen Bank Co
July 1
25, 000
Franklin National Bank in New York, N. Y. (12370), absorbed by Interstate
Trust Co. of New York
do.
800,000
First National Bank of Hershey, Nebr. (10970), absorbed by The First National
Bank of North Platte, Nebr
June 24
25,000
Citizens National Bank of Boston, Mass. (11339), absorbed by the National Shawmut Bank of Boston
May 20
750s000
First National Bank of Lawrenceville, Va. (9433), absorbed by The Brunswick Co.
State Bank of Lawrenceville,_.
July 5
40,000
First National Bank of Emmetsburg, Iowa (3337), succeeded by The National
Bank of Emmetsburg
June 10
80,000
Wamesit National Bank of Lowell, Mass. (781), absorbed by The Union National
Bank of Lowell
July 12
250,000
Farmers National Bank of Butler, Pa. (5391), absorbed by The Butler Co. National Bank of Butler
July 15
250,000
First National Bank of Carlisle, Ind. (8805), absorbed by Peoples State Bank of
Carlisle
July 11
35,000
First National Bank of Calexico, Calif. (9686), succeeded by The First Central
National Bank of Calexico
June 3
300,000
First National Bank of Madelia, Minn. (7100), absorbed by State Bank of Madelia.; July 15
25,000
First National Bank of Langdon, N . Dak. (4802), succeeded by First National j
50,000
Bank in Langdon
July 5
1
Consolidated with Bank of Italy and became a branch of Bank of Italy National Tr. and Sav. Association, San Francisco, Calif.
2
Consolidated with Liberty Bank of America of San Francisco, which was consolidated with Bank of
Italy and became a branch of Bank of Italy National Trust & Savings Association, San Francisco, Calif.




208

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to
October 31, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued
Name and location of bank

Morgan County National Bank of Fort Morgan, Colo. (7832), absorbed by The
First National Bank of Fort Morgan
First National Bank of Morenci, Mich. (5669), succeeded by First State Savings
Bank of Morenci_
Reedley National Bank, Reedley, Calif. (9688), absorbed by and became a branch
of Bank of Italy National Trust & Savings Association, San Francisco, Calif
First National Bank of Waverly, Va. (10914), absorbed by Bank of Waverly
Peoples National Bank of Jeannette, Pa. (7792), absorbed by The First National
Bank of Jeannette
._.
__
Stockmens National Bank of Nampa, Idaho (11609), succeeded by First Security
Bank of Nampa
National Bank of Grand Saline, Tex. (5696), absorbed by The State National Bank
of Grand Saline
Merchants National Bank of Butler, Pa. (9814), absorbed by Butler Savings &
Trust Co
Lansdowne National Bank, Lansdowne, Pa. (11386), absorbed by Lansdowne
Trust Co., which changed its title to Lansdowne Bank & Trust Co
_.
Wabash National Bank, Wabash, Ind. (3935), absorbed by The Farmers & Merchants National Bank of Wabash
Liberty National Bank of Beverly Hills, Calif. (12909), absorbed by The First
National Bank of Beverly Hills
First National Bank of Argos, Ind. (9726), absorbed by The First Trust & Savings
Bank of Argos
-___
State National Bank of West, Tex. (12712), succeeded by The State National Bank
in West..:.
__.
West Englewood National Bank of Chicago, HI. (12004), absorbed by Ashland
Sixty-third State Bank of Chicago. - .
_
Commercial National Bank of Council Bluffs, Iowa (5838), absorbed by State
Savings Bank of Council Bluffs
___
State National Bank of Lamesa, Tex. (12767), succeeded by The Lamesa National
Bank, Lamesa
_
_
_.
First National Bank of Covington, Ind. (9860), succeeded by The National Bank
of Covington
.
Alexander National Bank of St. Petersburg, Fla. (12623), absorbed by The First
National Bank of St. Petersburg
First National Bank in Modesto, Calif. (11853), absorbed by Bank of Italy National
Trust & Savings Association, San Francisco, Calif
Total (165 banks) .




Date of
liquidation
1927
Aug. 1

Capital

$50,000

July 25

50,000

July 26
Aug. 1

100,000
25,000
50,000

July 14

75,000

Aug. 15

50,000

Aug. 18

200,000

Aug. 8

125,000

Aug. 25

200,000

Aug. 31

100,000

Aug. 26

25,000

Jan. 11

50,000

Aug. 1

200,000

Sept. 10

100,000

Sept. 29

60,000

Sept. 23

70,000

Oct. 19

200,000

Sept. 20

150,000
37,495,000

TABLE NO. 6.—Capital stocky surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, as
amended February 25, 1927, for the year ended October 81, 1927, as shown by their last reports prior to consolidation
Closing banks
Charter
No.

Continuing banks
I

Title and location

State

Capital

UnChar-I
Surplus divided Aggregate ter j
resources
profits

No.

10021 The Madison National
Bank, Madison.
12994 The National Bank and
Trust Co., Monessen.
13005 The Waynesboro National Bank and Trust
Co., "Waynesboro.
1156 The National Bank of
Lawrence County at
New Castle.
7818 j The City National Bank
I of Columbus.

Nebr__

$50,000

Pa___

150,000

3368 The Norfolk National
I Bank, Norfolk.
988 I The Chicopee National
Bank of Springfield.
4004 The Farmers & Merchants National Bank
of Fort Worth.
13025 The Discount National
Bank of New York.

Va.._. 1,000,000 1,000,000 325,697 13, 990,105 6032

713 TheMoorhead National
Bank, Moorhead.
4910 The Columbia National
Bank of Pittsburgh.
4653 The Farmers National
Bank of Longmont.
12276 The Central National
Bank of Nashville.
13040 The County National
Bank of Scranton.




Pa....
Pa...
Ohio.

Mass.

200,000

Minn.
Pa.-

0)
200,000

j
150,000 1,000,000
300,000

500,000

Tex... 1,000,000
N. Y_

$50,000

1,000,000
60,000

400,000

3773 The First National Bank
of Madison
5253 The First National Bank
of Monessen.
63,820 2,180,659 11866 First National Bank in
Waynesboro.
$1,278

14,969

50,000 5,899, 989

51,561 16,731,944

60,000

308
3131
1105

0)

600,000 1,300,000

562 The First National Bank
of New Castle.

104, 794 7, 473,422 7621

500,000 501,802 13,273, 748
300,000

1, 552,419

2569

304,751 14, 801,929

5225

3,472

Colo.

50,000

200,000

11,283

1,357,955 11253

Tenn.

300,000

90,000

14,021

2,773,805

500,000 264,158

8,649,822

500,000

Title and location

1669

The National Bank of
Commerce of Columbus.
The National Bank of
Commerce of Norfolk.
The Third National
Bank of Springfield.
The Fort Worth National Bank, Fort
Worth,
Bowery and East River
National Bank of
New York.
The First National Bank
of Moorhead.
The Bank of Pittsburgh
National Association,
Pittsburgh.
The American National
Bank of Longmont.
Fourth and First National
Bank of Nashville.
The First National Bank
of Scranton.

Capital

Surplus

Undivided
profits

Aggregate Date of
resources reports
1926
$791, 406 June 30

Date of
consolidation
1926
Nov. 2

$50,000

$25,000

$13,245

50,000

60,000

53,998

1,602,315 ...do

Nov. 9

59, 720

7,443,214 "Dec. 31

Dec. 31

500,000 1, 000,000
300,000

900,000

300,000J

400, 000

104,794

Do.

7, 787,313

202,912! 23,698,466

.do.

1927
Jan. 7

1,000,000 1,000,000

905, 019j 21,837,202

..do

Jan. 12

1,000,000 1,000,000

269, 369 22, 889, 822

.do

Feb.

1,200,0001 3,300,000

2

Feb. 21

3,000,000i 2,500,000 1, 024, 545 78, 259, 943
1,194,211

Feb. 26

3,000,000 3,000,000 1,937,623 66, 882,381

Mar. 5

100,000

50,000

15,000

75,000

1, 500,000 1,500,000

6,326

1,548

1927
453,351 Mar. 23

131, 813 28, 942,175

2,000,000 2,000,000 1, 510, 801 46,587, 7

3
m

a
o

Do.

4,392,001

1

Mar. 29

.do

Apr. 1

-do-

Do.

o
tr1

g

TABLE NO. 6.—Capital stock, surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, as fcO
amended February 25, 1927, for the year ended October SI, 1927, as shown by their last reports prior to consolidation—Continued
K
Closing banks
Charter
No.

Title and location

The American National
Bank of Oklahoma
City.
The Greenwich National
Eank of the City of
New York.
The Second National
Bank of Parkersburg.
The Commercial State
Bank of Kansas City.
The Jackson State Savings Bank, Jackson.

State

Capital

Okla.. $1,000,000
N. Y_. 1,000,000

Continuing banks

Surplus

Undivided
profits

Aggregate
resources

$300,000 $161,281 $23,831,551j

0)

1352

W. Va.

156,000

140,000

63, 730

2,882,657

Kans__

100,000

100,000

14,926

1,760,598 6311

Mich..

300,000

70,000

14,636

2,461,626

The Redondo Savings Calif..
Bank, Redando Beach.
Whittier Savings Bank, Calif..
Whittier.

100,000

36,000

10,267

250,000

100,000

106,842

United States Security
Trust Co. of Hartford.
The Western Reserve
National Bank of Warren.
Farmers National Bank
of Springfield.
The American Trust and
Savings Bank of
Springfield.
The Safe Deposit Bank
& Trust Co. of Tarentum.
Fitchburg Bank and
Trust Co., Fitchburg.

180

11289
672,437 8143
2,173, 626
5588

Conn. 2,000,000 2,000,000

86,110 15, 817,112 1338

| Ohio..

400,000

200,000

70,482

5,670,353

Ohio..

200,000

100,000

44,288

2,484,293
- 238

Ohio _.

200,000

150,000

43,000

3,537,976

Pa

125,000

50,000

16,665

Mass_.

500,000

300,000

The Camden National N . J . Bank, Camden.
The Citizens State Bank W. Va.
of Ripley.

100,000
35,000




Title and location

Capital

First National Bank in
Oklahoma City.

ter
No.

$1,000,000

The Hanover National
Bank of the City of
New York.
The First National Bank
of Parkersburg.
The Commercial National Bank of Kansas
City.
The National Union
Bank of Jackson.
The First National Bank
of Redondo, Redondo
Beach.
The First National Bank
of Whittier.
The
Hartford-Aetna
National Bank, Hartford.
The Second National
Bank of Warren.

Surplus
$200, 000

profits

Date of Date of
reports consolidation

$204,275 $20,925,132

Mar. 23

Undivided

Aggregate

5, 000, 000 15,000, 000 12, 021,182 191, 670, 675

.do.

Apr. 22
Apr. 27

350,000

350,000

334,956

6,247,168

...do..-.

Apr. 30

600,000

200,000

41,770

9,894,336

.....do

Apr. 30

400,000

200,000

171,236

8,384,481

...do_...

May

50,000

104,000

7,377

1,398,668

...do..-.

M a y 12

250,000

150,000

36,214

3,042,566

...do..-.

M a y 16

2,000,000 2,500,000 1,310,973 24,672,161

..-do....

M a y 21

.-.do-_.

M a y 24

4

200,000

200,000

100,578

4,518,309

The First National Bank
of Springfield.

400,000

300,000

138,165

4,013,936

June

2

1,117,038 4453

The .National Bank of
Tarentum.

100,000

75,000

54,798

1,792,061

June

9

37,198

5,660,957 7595

1,500,000

500,000

452,560 30,904,018

500,000

195,000

7,899,048 1209

1,000,000 1,000,000

707,126 26,092,466

June 30

June 30

15,000

1,511

260,920 10762

The Merchants National Bank of Worcester.
The First National State
Bank of Camden.
The First National Bank
of Ripley.

10,000

455,591

...do..-.

Do.

2479

35,000

-do.

June 27

9878
5033

The National Bank of
Orange.
The City National Bank
of Mayfield.
American Trust & Savings Bank, BirmingAmerican Savings Bank

Calif..

150,000

50,000

29,565

1,253,372 8181 The First National Bank

150,000

50,000

6,219

964, 693 Mar. 23

Ky.._

100,000

100,000

15,000

849, 792 2245 The First National Bank

150,000

181, 883

of Mayfield.
Traders National Bank
of Birmingham.

150,000

3,103, 765 June 30

July 2

250,000

150,000

121, 378

6, 359,384

July 11

1,496, 305 6481 The First National Bank

150, 000

A l a . . . 2, 2.50,000 1, 500,000
Calif..

100,000

65,000

of Orange.

396,880 18,150, 900 7020
35, 775

of Anaheim.
The Lagonda National
100,000
Bank of Springfield.
150,000
7558 The Talladega National
Bank, Talladega.
3050 The First National Bank
1,000,000
of San Diego.

OI iVIldllBlIIl.

5160

75,000
32,200 1,483,803
150,000
The Citizens National Ohio..
Bank of Springfield.
3,152
791,060
29,000
100,000
The Bank and Trust Co. A l a . . .
of Talladega.
500,000
52, 780 5, 759,800
200,000
The First Trust and Sav- Calif..
ings Bank of San
Diego.
The Pacific-Southwest Calif.. 7,000,000 6,000,000 1,462,630 197,164,069
Trust & Savings Bank
of Los Angeles.
125,000 265,829 6,982,299
500,. 000
United States Trust Co. I n d
of Terre Haute.

The National State Bank N. Y__
of Troy.
The Forest Hill National N. J—
Bank of Newark.

250,000

The Bank of Niagara,
Niagara Falls.

991
12604

i
"
1

t

N. Y__

i H6 State banks
"125 national banks

2098

50,000

67,044

100,000

108,352

90,000

21, 493

500,000

3, 314,022 -.-dp..-.

July 27

1,212,172 _._db_.

554,287 19, 896, 2871...do.

Aug. 31

The Terre Haute Na200,000
300,000
tional Bank, Terre
Haute.
The Manufacturers Na- 1,000,000 1,000,000
tional Bank of Troy.
The Broad and Market 1,200,000
600, 000!
National Bank and
Trust Co. of Newark.
120, 000]
The Cataract National
300,000
Bank of Niagara Falls.

5, 374,959

200,000

50,000

1,746,698 9912

721

500,000

200,000

305,862

8,042, 733 12284

14,560,000 10,940,000 2,854,063 271,849,456 \
9, 566,000 7,515,000 2,415,537 142,827,292

}

O
•3=1

7562

24,774

8

Aug. 1

The First National Bank
2,000,000 2, 666, 619 102,181, 733
3,500,000
of Los Angeles.

82,580

Do.

2, 289,316

2491

400,000

Do.

do..

Sept. 1

3,882,6781

.do. .

Sept. 7

692,285 32, 832, 033

-do..

Sept. 17

.do.

Sept. 28

3, 579, 516 ..do.

Sept. 29

156, 561

24, 958 12,153,726
30, 489

§
o

(40 national banks) _. 35,185,000 40, 574, 000 26, 435, 491 j 838, 542, 462

Did not report prior to consolidation.




d

212

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 7.—National banks consolidated under act of November 7, 1918, their

capital, surplus, undivided profits, and aggregate assets, year ended October 31.
1927

Consoli- Charda- ter
tion No.
No.

165

3773

166

5253

167 11866
168

562

169

7621

Title and location of bank

The First National Bank of
Madison.
First National Bank and
Trust Co. of Monessen.
First National Bank and
Trust Co. in Waynesboro.
First National Bank of Lawrence County at New Castle
The 'City National Bank of
Commerce of Columbus.

State

Date of
consolidation

Capital

Surplus

$100,000

$20,000

$1,331 $1,201,618

Pa.___ Nov. 9

160,000

200,000

40,000

3,660,045

Pa-.._ Dec. 31

900,000 1,000,000

123,540

9,623,873

Pa

do-

1,000,000 1,000,000

Ohio.. —do

400,000 10,291, 990

800,000

209,589 15,039.448

7 2,500,000 2,250,000

268,737 44,400,564

600,000

1QO7

6032

171

308

172

3131

173

1105

Norfolk National Bank of
Commerce and Tnmts
The Third National Bank
and Trust Co. of Springfield.
The Fort Worth National
Bank
Bowery and East River Na-

174

2569

The First and Moorhead

175

5225

The Bank of Pittsburgh Na- Pa..._ Mar. 5 3,000,000 3,000.000
tional \ssociation
The First National Bank of Colo.. Mar. 29
100,000 150,000
Longmont.
Fourth and First National Tenn. Apr. 1 2,000,000 2,000,000

National TJanlr T
* * **'' ' "

Aggregate
assets

1926
Nebr.. Nov. 2

170

tional Tlank of Nftw Vnrk"

Undivided
profits

Va—_ Jan.

Mass— Jan. 12 1,420,000 1,500,000 1,448,025 34,270,935
Tex._. Feb. 2 2,000,000 1,000,000

547,443 37, 818, 692

N. Y__ Feb. 21 3,000,000 2,500,000 1,080,460 87,324,016
Minn. Feb. 26
150,000
30,000 2,613,573
50,000

•L. TI Cb V*-\Jl~XCX i-

176 11253
177

1669

178

77

179

4862

180

1352

181

180

187

2479

188

238

191

1209

193

8181

194

2245

197

2098

202

721

203

9912

7,196

1,690,276

136,440 33, 772,568

J3 tillft.\ji ±\ doll V111C

2,250,000 2, 500,000 1, 545,259 54,012,424
P a . . . . ...do
The First National Bank of
Ot/xdXitOIl.
The American-First National Okla- Apr. 22 3,000,000 200,000 174,634 42, 733, 754
Bank in Oklahoma City.
The Hanover National Bank N. Y_. Apr. 27 5,000,000 15, 000.000 11,190,202 218,879,222
of the City of New York. •
454,000 454,000
454,000 8, 829, 615
The First National Bank of W.Va. Apr. 30
_L OiL 1SJ3L O U t i l j£ <
121, 911 8, 627,445
Ohio.. May 24
350,000 250,000
The Second National Bank
4

of
The "Wrvi*T*QTI
First National Bank and Ohio.- June 2
800,000
Trust Co. of Springfield.i
First Camden National Bank N. J... June 30 1,300,000

diiu x ruoi \^o.
The First National Bank of Calif
Orange.
The First National Bank of Ky.___
Mayfield.
Lagonda-Citizens National Ohio-.
Bank of Springfield.
The Manufacturers National N. Y..
Bank of Troy.
The Broad and Market Na- N. J_.
tional Bank and Trust Co.
of Newark.

Total (25 banks)
1

1,946,319 79,165,954

Also includes a State bank.




-do.

500,000

272, 981 10,036,205

1, 750,000

469,264 33,908,759

300,000

60,000

2

500,000

500,000

108,237

4,121,256

July 27

350,000

100,000

116,866

3, 824,704

July

Sept. 17 1,200,000 1,200,000
Sept. 28 1,325,000

700,000

2,297,905

800,000 37,308,517
77,000 13,342,796

33,759.000 38,684,000 21,569,434 798,796,154

TABLE N O . 8.—State banks and national banks consolidated under act of February 25, 1927, giving their consolidated capital, surplus, undivided profits, and aggregate assets, year ended October 81, 1927
Consolidation
No.

The Commercial State Bank of Kansas City.
The Jackson State Savings Bank,
Jackson.
The Kedondo Savings Bank, Redondo
Beach.
Whittier Savings Bank, Whittier

182
183
184
185

United States Security Trust Co. of
Hartford.
The American Trust and Savings
Bank of Springfield.i
The Safe Deposit Bank & Trust
Co. of Tarentum.
Fitchburg Bank and Trust Co.,
Fitchburg, Mass.2
The Citizens State Bank of Ripley
American Trust & Savings Bank,
Birmingham.
American Savings Bank of Anaheim..
The Bank and Tmst Co. of Talladega

186
188
189
190
192
195
196
198
199
200
201
204

Title and location of State bank

The First Trust and Savings Bank
of San Diego.3
The Pacific-Southwest Trust < Sav&
ings Bank of Los Angeles.4
United States Trust Co. of Terre
Haute.
The Bank of Niagara, Niagara Falls,...

Total (116banks)

Charter
No. of
national
bank

Title and location of national bank

State

Capital

Surplus

$750,000

$250,000

500,000

8143 The First National Bank of Redondo . . Calif.. May 12

200,000

5588
1338
238
4453
7595
10762
7020
6481
7558
3050
2491
7562
J2284

Undivided

profits

Aggregate Increase in
authorized
assets
capital

1927

The Commercial National Bank of Kans.. Apr. 30
Kansas City.
11289 The National Union Bank of Jackson._ Mich. May 4
6311

First National Trust and Savings Bank
of Whittier.
Hartford National Bank and Trust
Co., Hartford.
The First National Bank and Trust
Co. of Springfield.
First National Bank & T m s t Co.
of Tarentum.
Worcester County National Bank of
Worcester.
The First National Bank of Ripley
American-Traders National Bank of
Birmingham.
The First National Bank of Anaheim..
The Talladega National Bank, Talladega.
The First National Trust and Savings Bank of San Diego.
Los Angeles-First National Trust &
Savings Bank, Los Angeles.
Terre Haute National Bank and
Trust Co., Terre Haute.
National Bank of Niagara and Trust
Co. of Niagara Falls.

$18,333

$10,642, 854

$150, 000

300,000

90, 577

10, 530, 966

24, 894

2, 044, 376

I

100,000

90,000

150,000

-_.do__ May 16

250,000

250.000

245, 348

5,364,115

Conn__ May 21

4, 000,000

4, 000, 000

2, 058, 302

40, 491, 273

2, 000, 000

Ohio.. June 2

800,000

500,000

272, 981

10, 036, 205

200, 000

Pa____ June 9

200, 000

150, 000

73, 618

2, 805, 332

100, 000

Mass.. June 27

1, 875,000

500, 000

1,064,126

37, 475, 023

375, 000

W.Va_
Ala-_.
CalifAla--.

June 30
July 11

70,000
2, 750, 000

20,000
1, 500, 000

709, 618
24, 510, 284

35,000
2, 500,000

...do
Aug. 1

200,000
200,000

100,000
100,000

4, 760, 964
1,929,147

50,000
50,000

Calif _
—do—
Ind__.
N. Y.

_._

1 This consolidation includes the Farmers National Bank of Springfield with capital of $200,000.
2
With one branch in Fitchburg, Mass.
a With 3 branches in San Diego and 1 at Coronado, Calif.
4
With 99 branches in California, 44 of which are in Los Angeles.




Date of
consolidation

Aug. 31

1,000, 000

500,000

Sept. 1

12, 250, 000

8, 000, 000

Sept. 7

600, 000

500, 000

Sept. 29

1, 200, 000

550, 000

26,845,000

17,310, 000

723,214"
15,000
81
584, 558
7,750,000
151,541
61, 961
13,134, 422

o
o

o
htj

26, 380, 274
299, 345, 802

8, 750, 000

9, 048, 540

300,000

12, 249, 864

900, 000

498, 324, 637

15, 660,000

o
d
o

CO

214

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 9.—Number and capital of State hanks converted into national banking
associations in each State and Territory from 1863 to October 31,1927
Number of
banks

State or Territory

New England States

Eastern States..
Virginia
_.
West Virginia...
North Carolina..
South Carolina..
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas..
Arkansas
Kentucky
Tennessee
Southern States.

i

$4,605,000
2,595,000
2,029,990
72,691,200
16, 717,550
18, 932, 770

391

117,571,510

236 116,131,291
49 . 9, 520,450
118 ! 33,299,095
585,010
6
36 10,249,372
1,080,000
451

170,865,218

67 , 5,937,100
33
2,208,900
37
3,511,000
48
4,512,000
29
5,937,000
21
2,165,000
31
3,660,000
16
1,290,000
12
3, 575,000
139
9,992, 500
40
2,407,500
43
6,006,900
49
4, 515,000
565

Number of
banks

State or Territory

34
28
22
190
52
65

Maine
New Hampshire..
Vermont
Massachusetts
Rhode Island
Connecticut
New York
_
New Jersey.
Pennsylvania.._
_
Delaware
Maryland
District of Columbia.

Capital

Ohio.
Indiana
Illinois
Michigan...
Wisconsin
Minnesota
Iowa
Missouri

24
25
39
25
33
112
42
46

_

___

Middle Western States..
North Dakota..
South Dakota
Nebraska
Kansas..
__
Montana
Wyoming
_
Colorado.
New Mexico..
Oklahoma.

__.

Western States
Washington
Oregon
California...
Idaho
Nevada
Arizona...

55,717,900 ,

$2,890,000
1,608,000
4,130,000
2,870,000
3,395,000
7,371,000
1,935,000
17,051, 800
41, 250,800

83
49
73
81
37
9
35
7
191
565

_

United States

24,992,000

61
28
111
26
1
5

_

Pacific States

Capital

5,725,000
1,651,000
44,622,800
1,080,000
50,000
300,000

232

53,428,800

2,550 463,826,228

TABLE NO. 10.—Conversions of State banks and primary organizations as national
banks from March 14, 1900, to October 31, 1927
Conversions of
State banks
Classification
Number
Capital less than $50,000
Capital $50,000 or over
Total




Capital

Reorganizations
from State and Primary organiprivate banks and
zations
national banks
Number

Capital

Number

Capital

Total

Number

Capital

873 $23,233,300 1,147 $30,382,000 2,594 $66,865,500 4,614 $120,480,800
758 161,372,800 726 114,970,000 1,774 243,065,000 3,258 519,407,800
1,631 184,606,100 1,873 145,352,000 4,368 309,930,500 7,872 639, 888, 600

215

BEPOET OF THE COMPTROLLER OP THE CURRENCY

TABLE N O . 11.—Number of national banks increasing their capital, together with
the amount of increase monthly for years ended October 81, since 1922
1923
Months

Nov
Dec
Tan
Feb.
Mar
Apr
May_
June
July
Aug
Sept
Oct

Number
11
49
57
28
30
22
15
22
29
16
10
13

.-

1924

Capital

Of
2 Of
3 Of
4
Of

these
these
these
these

cases,
cases,
cases,
cases,

9
12
34
25
24
22
6
11
26
5
9
13

$880,000
11,165,000
6, 835, 000
3, 605, 000
3, 870, 000
2, 505, 000
2, 540, 000
2, 700, 000
3, 200, 000
1,485, 000
1, 045, 000
3, 037, 500

Total- -- 1302 142,867,500
1

Number

2

1925

Number

Capital
$1,740,000
1, 475, 000
4,100, 000
5,935, 000
3, 487, 500
2,115, 000
675,000
485, 000
2,165, 000
410, 000
1, 040, 000
1, 325, 000

8
13
21
19
18
22
12
22
26
13
14
15

1927

1926

Capital

Number

$590,000
3, 287, 500
2, 000, 000
14, 687, 500
2, 950, 000
7, 220, 000
1,465, 000
3, 570, 000
2,185, 000
2,160, 000
2, 240, 000
1, 055, 000

Capital

9
24
31
28
17
25
11
15
28
8
7
7

Number

$1, 255,000
4, 850, 000
6, 030, 000
6,081, 250
4,120, 000
18, 060, 000
1, 485, 000
1, 918, 750
3, 057, 500
1, 360, 000
435, 000
787, 500

6
20
35
22
22
23
15
21
35
17
11
11

Capital

$170,000
3,640,000
4, 032, 500
29,900,000
11, 505, 000
2, 820, 000
4, 575,000
6,913, 710
5, 775, 000
2,163, 000
12,950, 000
1, 740, 000

196 2 24,952,500 3 203 3 43,410,000 4 210 4 49,440,000 5 238 5 86,184,210

165 were effected wholly or in part b y stock dividends aggregating $24,749,000.
78 were effected wholly or in p a r t b y stock dividends aggregating $7,093,583.
85 were effected wholly or in p a r t b y stock dividends aggregating $7,680,300.
67 were effected wholly or in part b y stock dividends aggregating $8,846,400.

* Of these cases, 73 were effected wholly or in part by stock dividends aggregating $6,776,350.

TABLE NO. 12.—Number and authorized capital of national banks chartered and
the number and capital stock of banks closed in each year ended October 31, since
1913, with the yearly increase or decrease
Closed
Chartered
Year

No.

1917._..
1918
1919_...
1920___.
1921.._.
1922_...
1923_._.
1924___
1925._..
1926....
1927_._.

Consolidated
under act
Nov. 7,1918

Capital No.

195 $18, 675,000
144 9, 689, 500
122 6, 630, 000
176 11, 590, 000
164 13, 400, 000
245 21, 780, 000
361 31, 077, 500
169 20, 005, 000
232 24, 890, 800
190 30, 522, 500
135 21, 375, 000
251 26, 040,000
160 29, 705, 000
135 43, 570,000

Loss to
capital

In voluntary
liquidation

No.

i $3,220,000
1
1 , 650, 000
V 850, 000
l 3, 275, 000
1
2, 575,000
1
1,255,000
11, 660, 000
1
4, 455, 010
1
3,407,000

1
2

Capital

113 $26,487,000
82 13,795,000
135 14, 828, 000
107 14, 367, 500
68 16,165, 000
83 16, 380, 000
84 14, 730, 000
93 37, 075,000
103 18, 910,000
121 39,290,000
155 40, 745,000
123 14,467, 500
153 28, 668, 300
165 37,495,000

Insolvent

No.
21
14
13
7
2
1
5
34
31
53
138
98
91
135

Net yearly
Net yearly
increase
decrease
(exclusive of
(exclusive of
existing banks existing banks
increasing
decreasing
their capital) their capital)

Capital No.

Capital

No.

$1,, 810,000
.

1,830,000
805, 000
1,230, 000
250, 000
25, 000
205, 000
1, 870,000
2, 015, 000
3, 405, 000
9, 635,000
6,420, 000
5,412, 500
8,257,000

62
94
135 $2,155,0001.
257il4;492,500
18
77 690,800

Capital

$9,622,000
5,935, 500
9, 003, 000
4,007, 500
3,015,000
19, 790,000
3 l4,"747,500
174 30,260,000

15 3,492,500
3

114 8, 820,810
176 4, 439,000

Amount of capital stock reductions incident to consolidations.
Includes 5 banks with aggregate capital of $250,000 restored to solvency. Also includes 6 banks with
an aggregate capitalof $675,000 which had been placed in voluntary liquidation by their shareholders prior
to Nov. 1,1926, and 3 banks with an aggregate capital of $225,000 which were placed in voluntary liquidation
by their shareholders since that date.
3
There was a decrease of 176 banks, considering the 5 banks restored to solvency and the 9 banks which
were in voluntary liquidation.

71284°—28




15

216

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 13.—Total number of national banks organized, consolidated under
act November 7, 1918, insolvent, in voluntary liquidation, and in operation on
October 31, 1927

Organized

States, Territories, etc.

Consolidated
under
act Nov.
7, 1918
1
1
1
7
2
3

792
910
371

Insolvent

In liqui- In operadation
tion

13
22

67
55
46

16
1
6

171
49
44

153
13
65

15

34

354

389

1,136

24
9
19

52
10
54

29
127
30

Maine
New Hampshire
Vermont
Massachusetts.
Rhode Island
Connecticut-.

3

2
4

269
54
194
10
41
10

565
298
869
19
84
13

2,603

55

122

578

1,848

10

7

50

167
122
76
66
83
65
106

113

73
76

..

Total New England States._.

347
65
118

„

New York
New Jersey
Pennsylvania—
Delaware
Maryland
District of Columbia

.

Total Eastern States

._

_

Virginia
West Virginia
North Carolina _
_
South Carolina
Georgia
-.
Florida
Alabama
Mississippi
Louisiana
Texas...
Arkansas
Kentucky ._
_ _
_
Tennessee
Total Southern States
Ohio
.
. _
Indiana
Illinois
Michigan
_
.
.
Wisconsin
Minnesota
Iowa
Missouri
Total Middle Western States

234

163
127
113
167
109
161

67
83
1,039

4
7

55

3
2
5

6
15
12

4

18
16
13

62
28
42

314
26

78
73

652
80
141
105

1,731

32
34
30
28
41

36
32

231
194
2,809

6
5

3
8
64
14
6
11

47

193

838

630
399

16
5

36
23

339
231

703

3

239
140

30

180

490

121

-.

2
9
1

3,449

41

277

1,076

2,055

1
1
1

55
60
44

44
41
146

142
98
155

434

-..

2
3
3
3
6

242
200
346

North Dakota.
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
_
New Mexico
Oklahoma

___

265
237
447
500
268

4
2

43

129

258
74
30

189
57
205
78

3

17
13
62
80
16

62
12
28
24

113
65
96
132
111

51
15
50
25

133
156
286
285
135

124
29

715

3

51

313

348

Total Western States

2,466

15

379

814

1,258

Washington
Oregon __
California
Idaho
Utah
Nevada
._
Arizona
_
Total Pacific States

201
135
480
106
38
16
29
1,005

4

31
13
23
25

Alaska
Porto Rico

_

Total Alaska and insular possessions
Total United States, Alaska, and insular
possessions




12
2

3
2
3

18

100

56~ " "
27
204
29
13
4
9

110
95
241
52
20
10
17

342

545

5
6
1

1
4
1

4
2

12

6

6

4,008

7,832

13,136

191

1,105

REPORT OF TH^l COMPTROLLER OF THE CURRENCY

217

TABLE NO. 14.—Changes of corporate title of national banks, year ended October 31,
1927
Charter
No.

Title and location

The Fanners National Bank of Millheim, Pa., to "The Farmers National Bank &
Trust Co. of Millheim"
_
The Doylestown National Bank, Doylestown, Pa., to "The Doylestown National Bank
and Trust Co."
_
_
,
8723 The Vassar National Bank, Vassar, Mich., to "Millington National Bank," Millington,
Mich
11896 The Arnold National Bank, Arnold, Pa., to "The National Deposit Bank of Arnold"
9917 The Hillsboro National Bank, Hillsboro, Oreg., to "The Commercial National Bank of
Hillsboro"
4885 The Farmers National Bank of Osage, Iowa, to "Osage Farmers National Bank".__
5061 The First National Bank of Summit, N. J., to "The First National Bank and Trust
Co. of Summit"
_
_
12043 The Security National Bank of Tulsa, Okla., to "Tulsa National Bank"
12213 The Capitol National Bank of New York, N. Y., to "The Capitol National Bank
and Trust Co. of New York"
__.
5279 The City National Bank of Evanston, 111., to "City National Bank and Trust Co.
of Evanston"
12804 The National Bank of Hollywood in Los Angeles, Calif., to "The Hollywood National
Bank of Los Angeles"
12540 The Brotherhood of Locomotive Engineers National Bank of Boston, Mass., to "The
Engineers National Bank of Boston"
_
_
_
_
_
12771 The Labor Cooperative National Bank of Newark, N. J., to "Labor National Bank of
Newark".
_
7589 The Old National Bank of Battle Creek, Mich., to " The Old National Bank and
Trust Co. of Battle Creek"
.__
_
_
12661 The First National Bank of L'Anse Creuse, Mich., to "The First National Bank of
Saint Clair Shores," Mich., to conform to change in name of place in which bank is
located
5816 The National Exchange Bank of Castleton, N. Y., to "The National Exchange Bank of
Castleton on Hudson" to agree with change in name of place in which bank is located._
3817 The Canandaigua National Bank, Canandaigua, N. Y., to "The Canandaigua National
Bank and Trust Co."
1260 The Pittsfield National Bank, Pittsfield, Mass., to "The Pittsfield National Bank
and Trust Co."
10787 The First National Bank of Pompton Lakes, N. J., to "The First National Bank and
Trust Co. of Pompton Lakes"
523 The First National Bank of Middletown, N. Y., to "First National Bank and Trust
Co. of Middletown"__
_
_
604 The York National Bank, York, Pa., to "The York National Bank and Trust Co."
11658 Beach Haven National Bank, Beach Haven, N. J., to "Beach Haven National Bank
and Trust Co."
.._
3335 The Elizabethtown National Bank, Elizabethtown, Pa., to "First National Bank
and Trust Co. of Elizabethtown"
4365 The Citizens National Bank of Englewood, N. J., to "The Citizens National Bank
and Trust Co. of Englewood".
5072 The Adirondack National Bank of Saranac Lake, N. Y., to "Adirondack National Bank
and Trust Co. of Saranac Lake"
_ _
_ _
9912 The Broad and Market National Bank of Newark, N. J., to "The Broad and Market
National Bank and Trust Co. of Newark".
2844 The Third National Bank of Greensburg, Ind., to "Third National Bank and Trust
Co. of Greensburg"
13038 The Capitol National Bank of Hartford, Conn., to "The Capitol National Bank
and Trust Co. of Hartford"
11034 The Public National Bank of New York, N. Y., to "The Public National Bank and
Trust Co. of New York"
12764 New First National Bank of Fullerton, Calif., to "First National Trust and Savings
Bank of Fullerton"
_
_
5137 The Merchants National Bank of Elmira, N. Y., to "The Merchants National Bank
and Trust Co. of Elmira"
1106 The Highland National Bank and Trust Co. of Newburgh,N.Y.,to "Highland-Quassaick National Bank and Trust Co. of Newburgh"
11545 The Linden National Bank, Linden, N. J., to " The Linden National Bank and Trust Co."_
9612 The Citizens National Bank of Caldwell, N. J., to "The Citizens National Bank and
Trust Co. of Caldwell"
6227 The First National-Magruder Bank of Port Clinton, Ohio, to "National Bank of Port
Clinton"
8254 The First National Bank of New Egypt, N. J., to "The First National Bank and
Trust Co. of New Egypt"
191 The First National Bank of Kalamazoo, Mich., to "The First National Bank and
Trust Co. of Kalamazoo"
_._
3211 The Kalamazoo National Bank, Kalamazoo, Mich., to "Kalamazoo National Bank
and Trust Co."
„ ...
11292 The Port Washington National Bank, Port Washington, N. Y., to "The Port Washington National Bank and Trust Co."
11747 The American National Bank of Mount Vernon, N. Y., to "The American National
Bank and Trust Co. of Mount Vernon"
2104 The First National Bank of Santa Barbara, Calif., to " First National Trust and
Savings Bank of Santa Barbara"
,
9511

Date

1926
Nov. 1

573




Nov. 9
Nov. 27
Dec. 31
1927
Jan. 3
Jan. 5
Jan. 13
Jan. 15
Do.
Jan. 17
Do.
Jan. 20
Do.
Jan. 24
Do.
Jan. 25
Feb. 15
Feb. 18
Do.
Mar. 1
Do.
Mar. 17
Mar. 30
Apr. 1
Apr. 18
Apr. 22
May 2
May 6
May 14
Do.
May 19
May 21
May 23
May 28
June 8
Do.
June 10
June 14
Do.
June 15
June 21

218

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 14.—Changes of corporate title of national banks, year ended October 31,
1927—Continued

659 The Fallkill National Bank of Poughkeepsie, N . Y., to " T h e Fallkill National Bank
and Trust Co. of Poughkeepsie"
10911 The First National Bank of Willisville, 111., to " The First National Bank of Ava," 111
13050 The Sheridan National Bank, Sheridan, Ind., to "Farmers and Merchants National
Bank of Sheridan"
8240 The Gramatan National Bank of Bronxville, N . Y. to " T h e Gramatan National Bank and
Trust Co. of Bronxville"
_
11188 Farmers National Bank of Bedford, Pa., to "Farmers National Bank and Trust Co. of
Bedford"
9745 Santa Cruz County National Bank of Santa Cruz, Calif., to " County First National
Bank of Santa Cruz"
i3007 The First National Bank of Verdugo City, Calif., to " T h e First National Bank of La
Crescenta Valley at Verdugo City"
9997 The First National Bank of Saguache, Colo., to "Saguache County National Bank of
Saguache".
6161 The Louisville National Bank, Louisville, Ky., to " T h e Louisville National Bank
and Trust C o "
11289 The National Union Bank of Jackson, Mich., to "National Union Bank and Trust Co. of
Jackson"
_
_
_
1670 The Ilion National Bank, Ilion, N . Y., to "Ilion National Bank and Trust C o "
12115 The Richfield National Bank, Richfield, Minneapolis, Minn., to " T h e Richfield
National Bank of Minneapolis"

1927
June 24
July 1
July

2

July

7

July 25
Aug. 1
Aug. 4
Aug. 12
Aug. 15
Aug. 19
Aug. 26
Sept. 26

TABLE N O . 15.—Changes of corporate title incident to consolidations of national

banks, and of State banks with national banks, year ended October 31, 1927
The National Bank and Trust Co. of Monessen, Pa. (12994), and The First National Bank of Monessen
(5253) consolidated under the charter of the latter with title: First National Bank and Trust Co. of Monessen.
The Waynesboro National Bank and Trust Co., Waynesboro, Pa. (13005), and First National Bank in
Waynesboro (11866) consolidated under the charter of the latter, with title: First National Bank and Trust
Co. in Waynesboro.
The National Bank of Lawrence County at New Castle, Pa. (1156), and The First National Bank of
New Castle (562) consolidated under the charter of the latter, with title: First National Bank of Lawrence
County at New Castle.
The City National Bank of Columbus, Ohio (7818), and The National Bank of Commerce of Columbus
(7621) consolidated under the charter of the latter, with title: The City-National Bank of Commerce of
Columbus.
The Norfolk National Bank, Norfolk, Va. (3368), and The National Bank of Commerce of Norfolk (6032)
consolidated under the charter of the latter, with title: Norfolk National Bank of Commerce and Trusts.
The Chicopee National Bank of Springfield, Mass. (988). and The Third National Bank of Springfield
(308) consolidated under the charter of the latter, with title: The Third National Bank and Trust Co. ol
Springfield.
The Moorhead National Bank, Moorhead, Minn. (4713), and The First National Bank of Moorhead
(2569) consolidated under the charter of the latter, with title: The First and Moorhead National Bank.
The Farmers National Bank of Longmont, Colo. (4653), and The American National Bank of Longmont
(11253) consolidated under the charter of the latter, with title: The First National Bank of Longmont.
The American National Bank of Oklahoma City, Okla. (5716), and First National Bank in Oklahoma
City (4862) consolidated under the charter of the latter, with title: The American-First National Bank
in Oklahoma City.
Whittier Savings Bank, Whittier, Calif., and The First National Bank of Whittier (5588) consolidated
under the charter of the latter, with title: First National Trust and Savings Bank of Whittier.
United States Security Trust Co. of Hartford, Conn., and The Hartford-Aetna National Bank, Hartford
(1338), consolidated under the charter of the latter, with title: Hartford National Bank and Trust Co.
Farmers National Bank of Springfield, Ohio (S446), The American Trust and Savings Bank of Springfield, Ohio, and The First National Bank of Springfield (238), consolidated under the charter of the latter,
with title: The First National Bank and Trust Co. of Springfield.
The Safe Deposit Bank & Trust Co. of Tarentum, Pa., and The National Bank of Tarentum (4453)
consolidated under the charter of the latter, with title: First National Bank & Trust Co. of Tarentum.
Fitchburg Bank and Trust Co., Fitchburg, Mass., and The Merchants National Bank of Worcester,
Mass. (7595) consolidated under the charter of the latter, with title: Worcester County National Bank of
The Camden National Bank, Camden, N. J. (3372), and The First National State Bank of Camden (1209),
consolidated under the charter of the latter, with title: First-Camden National Bank and Trust Co.
American Trust & Savings Bank, Birmingham, Ala., and Traders National Bank of Birmingham (7020)
consolidated under the charter of the latter, with title: American-Traders National Bank of Birmingham.
The Citizens National Bank of Springfield, Ohio (5160), and The Lagonda National Bank of Springfield
(2098) consolidated under the charter of the latter, with title: Lagonda-Citizens National Bank of SpringThe First Trust and Savings Bank of San Diego, Calif., and The First National Bank of San Diego (3050)
consolidated under the charter of the latter with title: The First National Trust and Savings Bank of San
The" Pacific-Southwest Trust & Savings Bank of Los Angeles, Calif., and The First National Bank of
Los Angeles (2491), consolidated under the charter of the latter, with title: Los Angeles-First National
United State^Trust Co. of Terre Haute, Ind., and The Terre Haute National Bank, Terre Haute (7562),
consolidated under the charter of the latter, with title: Terre Haute National Bank and Trust Co.
The Bank of Niagara, Niagara Falls, N. Y., and The Cataract National Bank of Niagara Falls (12284),
consolidated under the charter of the latter, with title: National Bank of Niagara and Trust Co. of Niagara
Digitized forFalls.
FRASER


REPORT OF THE COMPTROLLER OF THE CURRENCY

219

TABLE NO. 16.—National banks chartered during the year ended October 81, 1927
Charter
No.

Capital

Title

ALABAMA
13097
13128

Merchants National Bank of Mobile
Hartford National Bank, Hartford .
Total (2 banks)

$500,000
50,000
550,000

CALIFORNIA
13007
13010
13016
13028
13029
13044
13049
13054
13069
13071
13079
13092
13094
13135

First National Bank of Verdugo City *
_
Commercial National Bank of Berkeley
Brotherhood National Bank of San Francisco,
First National Bank in Merced
First National Bank in Escondido
Bank of Italy National Trust and Savings Association, San Francisco 2__
First National Bank of Carlsbad
_ . .
_
First Central National Bank of Calexico
Magnolia Park National Bank of Burbank
American National Bank of Glendale
•_
__
_ _ _ _ . .
First National Bank of Fallbrook
Citizens National Bank of Ontario
_
_
California National Bank of Beverly Hills
.._ _ .. _.
National Bank of Lynwood
Total (14 banks)

50,000
250,000
500,000
100,000
50,000
20,000*000
25,000
300,000
100,000
200,000
25,000
100,000
100,000
50,000
21,850,000

COLORADO
13098

West Side National Bank of Denver

_
_

100,000

CONNECTICUT
13038
13042

Capitol National Bank of Hartford 3
First National Bank in Greenwich
Total (2 banks)

._ _
_

300,000
100,000
400,000

FLORIDA
13008
13090
13102

Coral Gables First National Bank, Coral Gables
First National Bank in Palm Beach
First National Bank of Mount Dora... __
Total (3 banks)

_ _ .
. _

100,000
100 000
100,000
300,000

GEORGIA
13068

Citizens and Southern National Bank, Savannah i

3,000,000

ILLINOIS
13036
13119

Midland National Bank of Chicago.__
Addison National Bank of Chicago
Total (2 banks)

_.

200,000
200,000
400,000

INDIANA
13050
13082

Sheridan National Bank, Sheridan 5
National Bank of Covington_.
Total (2 banks) _..

40, 000
50, 000
90,000
IOWA

13020
13059
13073
13083
13109
13112

First National Bank in Spirit Lake
National Bank of Emmetsburg
National Bank of Toledo
Nevada National Bank, Nevada
Commercial National Bank of Corydon.
Clay County National Bank of Spencer
Total (6 banks) _ _ _.

1 Title changed to "The First National Bank of La Crescenta Valley at Verdugo City.'
2
With 277 branches in California, 26 of which are in San Francisco.
» Title changed to "The Capitol National Bank and Trust Co. of Hartford."
With 9 branches in Georgia, one of which is in Savannah.
Title changed to "Farmers and Merchants National Bank of Sheridan."
4
8




50,000
60,000
50, 000
40,000
40,000
60,000
300,000

220

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 16.—National banks chartered during the year ended October 81, 1927—
Continued

13033
13076
13106

Union National Bank of Neodesha
Thomas County National Bank of ColbyExchange National Bank of Hutchinson__
Total (3 banks) _

13023
13024

$50,000
50,000
150,000
250,000

Second National Bank of Paintsville
Union National Bank of Elizabethtown..
Total (2 banks) _

75,000
50,000
125,000

MASSACHUSETTS
13060

Cambridge National Bank, Cambridge._

200,000

13072

East Side National Union Bank of Jackson..

100,000

MINNESOTA
13060
13075
13078
13081
13086
13095
13096
13108
13114
13116
13127
13131

Fourth Northwestern National Bank of Minneapolis..
Becker County National Bank of Detroit Lakes
Pioneer National Bank of Duluth
Citizens National Bank of Olivia..
Security National Bank of Montevideo
__
First National Bank in Jackson
Minnehaha National Bank of Minneapolis
Central National Bank of Minneapolis
_
Columbia National Bank of Columbia Heights
Western National Bank of Duluth
Third Northwestern National Bank of Minneapolis...
Midway National Bank of St. Paul
Total (12banks).

100,000
50,000
100,000
25,000
50,000
30,000
100,000
100,000
25,000
100,000
200,000
100,000
980, 000

NEBRASKA
13013
13017
13101

City National Bank in Kearney..
City National Bank in Lincoln. _
First National Bank of Osmond..

150,000
300,000
25,000

Total (3 banks) _

475,000
NEW JERSEY

13012
13034
13039
13043
13047
13058
13065
13117
13120
13123
13125
13129
13136

Northern Valley National Bank of Tenafly
,
Harrison National Bank, Harrison
Security National Bank of Trenton
Hayes Circle National Bank and Trust Co. of Newark.
First National Bank of Wharton
Mount Prospect National Bank of Newark
_
__
Bay Head National Bank, Bay Head
First National Bank of Oradell
American National Bank of Camden
Lincoln National Bank of Passaic
First National Bank of Marlton
Livingston National Bank, Livingston
First National Bank of Cedar Grove
Total (13 banks).

100,000
225,000
200,000
500,000
50, 000
200,000
30,000
50,000
300,000
500,000
25,000
50,000
50,000
2, 280,000

NEW YORK

Endicott National Bank, Endicott...
100,000
Stewart National Bank of Livonia
75,000
Discount National Bank of New York«
1,000,000
Claremont National Bank of New York
400,000
Elmhurst National Bank of New York...
200,000
Wheeler National Bank of Interlaken
50,000
Seward National Bank of New York
_
2,000,000
Greenwich National Bank of the City of New York»
1,000,000
6
With 2 branches in the city and county of New York. Consolidated on Feb. 21, 1927, with Bowery
and East River National Bank of New York under act Nov. 7, 1918.
7
With 10 branches in the city and county of New York. Consolidated on Apr. 27,1927, with The Hanover National Bank of the City of New York under act Nov. 7,1918.
13004
13006
13025
13027
13035
13037
13045
13051




REPORT OF THE COMPTROLLER OP THE CURRENCY

221

TABLE NO. 16.—National banks chartered during the year ended October 81, 1927—
Continued

NEW YORK—continued
13055
13062
13063
13074
13080
13085
13104
13105
13115
13121
13122
13124
13126
13130
13132

Prospect National Bank of Brooklyn in New York
Sunrise National Bank of Baldwin.
Bedford National Bank of Brooklyn in New York
National City Bank of Long Beach
Bensonhurst National Bank of Brooklyn in New York
_
Frontier National Bank of Buffalo
Bay Parkway National Bank of Brooklyn in New York
Bolton National Bank of Bolton Landing..
West Hempstead National Bank, West Hempstead
College Point National Bank of New York.
_
Douglaston National Bank of New York
Mahopac National Bank, Mahopac
._
Guardian National Bank of New York
_
Williston National Bank of Williston Park, post office East Williston.
First National Bank of Glen Head
._
_
National Bank of Lake Ronkonkoma
_
._
Mutual National Bank of the City of New York
Total (25 banks).

$500,000
75,000
500,000
100,000
200,000
200,000
200,000
50,000
50,000
200,000
100,000
25,000
100,000
50,000
50,000
25,000
500,000
7, 750,000

NORTH DAKOTA

13041
13053

Security National Bank of Hope.
First National Bank in Langdon_

13018
13021
13100

Durant National Bank in Durant
First National Bank in Madill
Hartshorne National Bank, Hartshorne

Total (2banks).

25,000
50,000
75,000

OKLAHOMA

_

Total (3 banks).

200,000
OREGON

13093

100,000
50,000
50,000

Lumbermens National Bank of Bend.

100,000

PENNSYLVANIA

^
13002 First National Bank of Roseto
13003 Tioga National Bank of Philadelphia..
13005 Waynesboro National Bank and Trust Co., Waynesboro 8 .
13009 Peoples National Bank of Burgettstown
13011 Citizens National Bank of Seward
13015 Morton National Bank, Morton
13026 Hatfield National Bank, Hatfield
13030 Elkins Park National Bank, Elkins Park
13031 Springfield National Bank, Springfield
13032 Erie National Bank of Philadelphia
13040 County National Bank of Scranton 9
13064 First National Bank of Friedens
_
13084 Union National Bank of New Kensington
*
13087 Economy National Bank of Ambridge.
13113 National Bank of Mt. Airy in Philadelphia
13118 Farmers National Bank of Beliefonte
13133 Dublin National Bank, Dublin
13134 First National Bank and Trust Co. of Waynesburg
Total (18 banks).

50,000
200,000
200,000
50,000
25,000
50,000
50,000
50,000
50,000
250,000
500,000
25,000
100,000
100,000
100,000
50,000
50,000
250, 000
2,150,000

SOUTH DAKOTA

13061

First National Bank of Ree Heights

25,000

13056
13077
13103

First National Bank of Smithville...
First National Bank of Big Sandy..
Third National Bank in Nashville-

30,000
25,000
600,000

Total (3 banks) .
13014 First National Bank of Borger
13019 American National Bank of Honey Grove
13022 State National Bank in West
_
13046 First National Bank in Cooper
13048 Fannersville National Bank of Farmersville..
13052 Blossom National Bank, Blossom
13067 Teague National Bank, Teague
13070 First National Bank of Panhandle

655,000
50,000
100,000
50,000
50,000
50,000
30,000
60,000
50,000

8
Consolidated on Dec. 31, 1926, with First National Bank and Trust Co. in Waynesboro under act
Nov. 7, 1918.
9
Consolidated on Apr. 1,1927, with The First National Bank of Scranton under act Nov. 7,1918.




222

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 16.—National banks chartered during the year ended October SI, 1927Continued

13107
13110
13111

TEXAS—continued
City National Bank of Cleburne...
Peoples National Bank of Tyler
Lamesa National Bank, Lamesa
Total (11 banks)

$100,000
100,000
50,000

...•-

690,000

WASHINGTON

13057
13091
13099

First National Bank of Gig Harbor
American National Bank of Aberdeen

25,000
400,000
100,000

First National Bank in Centralia
Total (3 banks)

525,000

_

43, 570,000

Total United States (135 banks)

_.

TABLE N O . 17.—National banks chartered which are conversions of State banks
during the year ended October SI, 1927
Charter
No.

13005
13011

Title and location

State

The Waynesboro National Bank and Pa.
Trust Co., Waynesboro.
The Citizens National Bank of Seward.. Pa.

13023 The Second National Bank of Paintsville.
13024 The Union National Bank of Elizabethtown.
13025 The Discount National Bank of New
York.i
13033 The Union National Bank of Neodesha. _
13040 The County National Bank of Scranton.
13044 Bank of Italy National Trust and
Savings Association,2 San Francisco.
13051 The Greenwich National Bank of the
City of New York.3
13061 The First National Bank of Ree Heights.
13066 The Fourth Northwestern National
Bank of Minneapolis.
13067 The Teague National Bank, Teague
13068 The Citizens and Southern National
Bank,4 Savannah.
13076 The Thomas County National Bank of
Colby.
13078 The Pioneer National Bank of Duluth.__
13079 The First National Bank of Fallbrook. __
13084 The Union National Bank of New Kensington.
13097 The Merchants National Bank of Mobile.
13098 The West Side National Bank of Denver.
13099 First National Bank in Centralia
13102 The First National Bank of Mount Dora
13101 The First National Bank of Osmond
13106 The Exchange National Bank of Hutchinson.
13108 The Central National Bank of Minneapolis.
13110 The Peoples National Bank of Tyler
13114 The Columbia National Bank of Columbia Heights.
13122 Guardian National Bank of New York *_
13128 The Hartford National Bank, Hartford._
13131 The Midway National Bank of St. Paul.
13132 The Mutual National Bank of the City
of New York.
Total (30 banks).

Date of
Charter
1926
Nov. 13

ApproxisurAuthorized mate and
Approxiplus
capital
undivided mate assets
profits
$200,000

$230, 572

$2,176,547

1

25,000

29,957

166,543

1927
Jan. 3
—do....

75,000
50,000

41,112
10,823

686,995
342,558

1,000,000

652,773

10,670,894

Calif.. Mar. 1

50,000
500, 000
20,000,000

5,823
730,459
29, 247, 538

326, 558
8, 727, 760
674, 526,131

N.Y... Mar. 23

1,000,000

2, 657, 308

31, 884,572

S.Dak_ Apr. 15
Minn. Apr. 30

25,000
100, 000

18,119
84,413

290,442
3, 508,440

60,000
3, 000,000

28,545
3,098,017

658, 667
67,384,186

30,474
8,781
36,663

1,083,186
230, 510
470,080

I?:::

Dec.

N.Y.. Jan. 5
Kans._ Jan. 21
Pa_._. Feb. 15

Tex... M a y
.._do

2

Kans. M a y 12

50, 000

M a y 19
M a y 20
June 3

100, 000
25,000
100,000

Ala..
Colo.
Wash
Fla..
Nebr_.
Kans..

June
July
do
July
July
July

6
11
25

500, 000
100, 000
100, 000
100,000
25,000
150, 000

715,
13,
24,
62,
48,
92,

511
031
887
880
032
245

14,437, 692
867, 209
715, 942
709,183
404, 224
2, 059, 770

Minn. July 27

100,000

111, 903

1,947, 544

Tex... July 30
Minn. Aug. 15
N.Y.. Sep. 21
Ala... Oct. 6
Minn. Oct. 10
N.Y.. Oct. 22

100,000
25,000

49, 820
8,178

1, 289, 896
271, 069

100, 000
50,000
100,000
500.000

81,763
21, 869
61, 212
1,041, 432

2, 564,918
191, 702
1,948,105
18, 251, 722

28,310, 000 39, 262, 629

849, 381,890

30
1

1 With 2 branches located in the city and county of New York.
2 With 277 branches located in California, 26 of which are in San Franesico.
3
With 10 branches located in the city and county of New York.
* With 9 branches located in Georgia, one of which is in Savannah.
Digitized for • Post office 1600 Sheepshead Bay Road, Brooklyn, N . Y.
FRASER



588,845

Minn
Calif.

REPORT OF THE COMPTROLLER OF THE CURRENCY

223

TABLE NO. 18.—National banks, by States and geographical divisions, organized,
failed, and reported in voluntary liquidation during the year ended October 31,
1927
Organized
States

Num- Authorized Number
capital
ber
1
2

Massachusetts
Connecticut
Total New England
States

Total Eastern States..
Virginia
West Virginia
North Carolina
South Carolina
Georgia _.
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee

3

56

12,180, 000

1
3
2

3,000,000
300,000
550,000
690,000

2
3

125,000
655, 000

22

5,320, 000

$300,000

l $358, 642

6
1

750,000
200, 000

9,375, 822
1 171,245

8

1,250, 000

9, 905, 709

150,000
50,000

2,884,446

1
1
1

100, 000
25,000
25,000

1, 559, 708
160, 618
98,660

10
5

0)

812, 000 2 5, 519, 851
460,000 4,180, 737

Capital

Gross
assets

$1,000,000

$10,361,285

1,000,000

10,361,285

5
5
11

9,300, 000 289,406,462
2,125, 000 42,437,958
2, 300, 000 31,354, 596

21

13, 725, 000 363,199,016

5
1
2
3

200, 000
50,000
200, 000
260, 000

2,241,634
309,918
1, 919,646
1,612,859

2
1
1
14

250, 000
50,000

2,397,055
333,862

50,000
1,445,000

252,309
9,38Q 898

21

1,622, 000

14,404,020

29

2, 505,000

18,448,181

2
5
4
1
1
18
35
2

325,000 2,672, 442
350,000 3 2,390,618
150, 000 1,128,151
754, 824
50,000
193, 585
25,000
4 7,036, 720
650, 000
1,975, 000 516,465, 748
579, 982
95,000

3
8
6
2

5,025, 000
665, 000
890, 000
2,050, 000

74,174, 647
6,046,040
15, 736,644
23,500,208

8
6

375,666
405, 000

4,119,473
5,320,229

3, 620, 000 31, 222, 070

33

9,410, 000

128, 897,241

275,000
50,000
880, 000
75, 000
55, 000
140, 000
110, 000
50,000
720, 000

2,693,619
497,159
9,021,118
725, 801
284, 652
1, 404, 606
1,152,402
225,269
5,952, 664

90, 000
400, 000
100, 000

12
6

980,666
300, 000

23

1,870,000

68

2
1
3
3

75,000
25,000
475, 000
250,000

8
5
6

1

100,000

. . .

Total Middle Western
States

3

200,000

8

225, 000

2,186, 221

7
2
8
2
2
2
3
2
14

13

1,125,000

28

1,240, 000

10,901,399

42

2, 355, 000

21, 957,290

525, 000
3
100, 000
1
14 21, 850, 000

North Dakota .
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado . _
New Mexico
Oklahoma

1
1
5
3

25, 000
100, 000
275, 000
125,000

2
34
2

2,025, 000
6,300, 000
175,000

21, 645, 075
58,286,484
2, 533,299

8, 500, 000

82,464,858

1

Total Western States,
Washington
Oregon
California
Idaho

2
1

2
2
1

i

Number
2

2
1

11

Total Southern States.

Assets

600,000
7, 750, 000
2,280,000
2,150, 000

_

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri _.

Capital

$200,000
400, 000

25
13
18

New York
New Jersey
Pennsylvania
District of Columbia

Voluntary liquidations

Failed

.

310, 000 6 2,480,211
225,000 2, 539, 917
455,000 < 3,634,470
25,000

60, 580

110, 057
1,444, 845
2, 579, 017
8 510, 571

Total Pacific States...

18

22,475, 000

10

525, 000

4, 644, 490

38

Total United States...

135

43, 570, 000

135

8,257, 000

71, 077, 688

165

1
3

37, 495, 000 625, 327,871

Was in voluntary liquidation.
Includes 1 bank with capital of $35,000 and gross assets of $524,180 restored to solvency.
3 Includes 1 bank with capital of $75,000 and assets aggregating $96,988 previously reported in voluntary liquidation.
* Includes 1 bank with capital of $50,000 and assets aggregating $103,649 previously reported in voluntary liquidation.
5
Includes 1 bank with capital of $25,000 and assets aggregating $25,289 previously reported in voluntary liquidation, and 1 with capital of $50,000 and gross assets of $416,795 restored to solvency.
«Includes 1 bank with capital of $50,000 and assets aggregating $97,947 previously reported in voluntary liquidation, and 1 with capital of $25,000 and gross assets of $308,675 restored to solvency.
7
Includes 2 banks with capital of $100,000 and $50,000, respectively, previously reported in voluntary liquidation.
8
Includes 1 bank with capital of $75,000 and gross assets of $210,705 restored to solvency.




224

KEPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 19.—Number and classification of national banks chartered monthly

during the year ended October 81, 1927
Conversions

Months

Number

November.
December. _
January

Capital

Reorganizations
Number

Capital

Primary organizations
Number

Capital

$75,000

February. _
March
April
May
June
July
August
September.
October

$200,000
25,000
1,175,000
500,000
21,000,000
125,000
3,235,000
600,000
675,000
25,000
100,000
650,000

60,000
100,000
200,000

30 28,310,000

735,000

Number

$800,000
1,500,000
1,525,000
1,125,000
3,095,000
1,145,000
775,000
1,545,000
1,090,000
200,000
1,250,000
475,000

Total

Total

97 14,525,000

50,000
50,000
100,000
100,000

Capital
$1,075,000
1,525,000
2,750,000
1,675,000
24,095,000
1,270,000
4,110,0C0
2,245,000
1,765,000
285,000
1,450,000
1,325,000

135

43,570,000

TABLE N O . 20.— United States bonds on deposit to secure circulating notes of
national banks in years ended October 31, 1900 to 1927
United States bonds held as security for circulation
NumYear ber of 2 per cent consols 4 p e r ^ ^ b o n d g 3 p e r c e n t b o n d s 5 p e r c e n t b o n d g
banks
1900— 3,871

$1,019,950
Consols of 1930,
270,006,600

1901-

12,500
4,221 1 Consols of 1930,
1
316,625,650

1902-

4,601

320,738,000

1903— 5,147

376,003,300

1904— 5,495

416,972,750

1905-. 5,858

483,181,900

1906... 6,225

492,170,650

1907-. 6,620

532,543,550

6,873

554, 700,700

1909— 7,025

573,328,450

1910.
1911.
1912.
1913.
1914.
1915.
1916.
1917.
1918.
1919.
1920.
1921.
1922.
1923.
1924.
1925.
1926.
1927.

580,145,400
593,006,600
601,762,600
604,264,950
606,622,300
600,678,600
567,690,250
555,514,950
561,848,600
565,094,950
570,372,500
576,522,950
581,493,950
586,801,800
589,086,200
591,792,150
591,139,900
592, 582,450

1908-

7,218
7,331
7,428
7,514
7,578
7,632
7,608
7,671
7,765
7,900
8,157
8,179
8,262
8,264
8,098
8,118
8,008
7,832




Total

(Consols of 1907,
of 1898, 3 Loan of 1904, 5
$13,544,100 }Loan cent,
per cent,
$301,123,580
per
Loan of 1895,
$1,293,000
$7, 756,580
7,503,350
Consols of 1907,
I
6,032,000
329,833,930
3,983,780
268,900
I Loan of 1895,
[
2,911,100
Consols of 1907,
I
8,248,450
6,056,720
1,100,900 338,352,670
I Loan of 1895,
[
2,208,600
[Consols of 1907,
I
2,979,200
1,797,580
718,660 382,726,830
I Loans of 1895,
1,410,100
Consols of 1907,
5,857,500
426,544,790
1,922,940
Loan of 1895,
1,791,600
Consols of 1907,
4,050,350
493,912,790
2,215,540
Loan of 1895.
4,465,000
Consols of 1907,
[2 per cent Pan- 539,653,180
25,124,650
ama Canal,
3,273, 700
Loan of 1895,
14,482,080
4,602,100
/Loan of 1895,
17,245,380 567,011,910
6,490,080
10,732,900
38,558, 680
13, 936,500
14,960,450
10,468,520 Certificates of in- • 632,624,8*50
debtedness 3
per cent.
per cent 1936
[4 per cent loan of 3 per cent 1908- 2 and 1938, Pan- • 679,545,740
1
1925.
1918,
ama Canal,
15,463,050
14,575,560
76,178,680
21,022,650
78,420,480 694,926,070
15,337,540
22,854,300
80,110,040 714,170,320
18,199,380
26,817,000
81,258,460 730,257,280
20,419,220
35,302, 700
81,701,240 743,513,990
22,245,100
34,699,300
81,971,820 744,740,600
21,447,180
32,304, 800
81,614,420
734, 975,540
20,377,720
26,214, 400
78,068,660 687,957,990
15,984,680
34, 743, 900
71,466,140 679,440,210
17, 715,220
50,240,800
72,324,800 684,446,440
32,240
58,055,050
72,672,060 695,822,060
68,578,000
73,116,000 712,066,500
77,257,400
73,732,140 727,512,490
82,509,900
73,656,840 737,660,690
85,823,150
73,937,380 746,562,330
76,687,050
74,069,640 739,842,890
74,392,980 666,185,130
74,352,980 665,492,880
74,290,840 666,873,290

225

REPORT OP THE COMPTROLLER OF THE CURRENCY

TABLE NO. 21.— United States bonds (circulation)—Monthly range of prices in
New York, November, 1926, to October, 1927, inclusive
Registered bonds
Coupon
bonds,
2's of 1930

Date

Panama 2's
of 1916-1936

1926

November:
Opening
Highest
Lowest
Closing
December:
Opening
Highest....
Lowest
Closing
January:
Opening
Highest..
Lowest..
Closing
February:
Opening
Highest
Lowest
Closing
March:
Opening
Highest
Lowest
Closing
April:
Opening
Highest...
Lowest
Closing,-..
May:
Opening
Highest
Lowest
Closing
June:
Opening
Highest
Lowest
Closing
July:
Opening
Highest
Lowest
Closing
Aguust:
Opening
Highest
Lowest
Closing
September:
Opening
Highest
Lowest
Closing...
October:
Opening
Highest
Lowest
Closing

2's of 1930

Not quoteddo
do..
do

_

..do..
..do...
.do...
.do..

_
_

__.

1927
_

..do.,
.do—
.do—
.do...

-_
_-.
_

-

..do...do...
.do—
.do—

—

_

-

-_

_
—

-do_-do...
-do...
-do—
101^@102
101^@102H
101H@102
101^@102H

_

-do.,
.do—
.do...
.do...
.do.,
.do—
.do...
.do...
-do__
-do...
-do...
_do..

__
_

99^@100
100 @101
99M@100
100 @101

..do.
_do_.
.do..
_do_.
_
-__
_
_




___
_.

_.

.do.
_do.
_do_do__
.do.,
.do.do..
.do..
.do...
-do...

100 @100%
100 ©101
100 ©100M
100 ©101

TABLE N O . 22.—National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 31, each year 1915 to 1927
[For prior years see annual report 1920]

Ones

Issued
Redeemed. _.
Outstanding _
Issued
Redeemed
Outstanding.
Issued.
Redeemed.._
Outstanding.
Issued
Redeemed...
Outstanding.
Issued
Redeemed...
Outstanding .
Issued
Redeemed-_.
Outstanding .
Issued-.
Redeemed...
Outstanding .
Issued
Redeemed...
Outstanding.
Issued
Redeemed
Outstanding .
Issued
Redeemed
Outstanding.
Issued
Redeemed
Outstanding.
Issued
Redeemed.. _
Outstanding.
Issued
Redeemed
Outstanding-

23,169, 677
22, 827, 374
342, 303
23,169, 677
22, 827, 540
342,137
23,169, 677
22, 827, 605
342,072
23,169, 677
22,827, 605
342, 072
23,169, 677
22, 827, 605
342,072
23,169, 677
22.827, 771
341, 906
23,169, 677
22, 827,833
341, 844
23,169, 677
22, 827, 833
341,844
23,169, 677
22, 827, 833
341,844
23,169, 677
22.828, 230
341, 447
23,169, 677
22,828,230
341, 447
23,169,677
22,828, 230
341, 447
23,169, 677
22,828, 230
341, 447

15, 495, 038
15, 331, 486
163, 552
15, 495, 038
15,331, 570
163,468
15, 495, 038
15, 331, 646
163, 392
15, 495, 038
15, 331, 646
163, 392
15, 495, 038
15, 331, 646
163,392
15, 495, 038
15, 331, 750
163,288
15, 495, 038
15, 331, 848
163,190
15,495,038
15, 331, 848
163,190
15, 495, 038
15, 331, 848
163,190
15, 495,038
15, 332,144
162,894
15, 495,038
15,332,144
162, 894
15, 495, 038
15, 332,144
162, 894
15, 495,038
15, 332,144
162, 894

Tens

Twos

Year

1,953, 573, 660
1, 827, 511, 370
126,062, 290
2,031, 826,880
1, 919, 643,440
112,183, 410
2,108,123, 060
1, 998, 613, 640
109, 509,420
2,180, 457, 660
2, 062, 530,045
117, 927, 615
2,277,156, 200
2,134, 883,895
142,272, 305
2, 383, 521, 060
2,257, 861, 600
125,659, 460
2, 530,964, 740
2, 399,196, 590
131, 768,150
2, 685,116,700
2, 544,935,255
140,181,445
2, 839, 923, 800
2, 692,170,185
147, 753, 615
2, 986,182, 620
2,836, 525, 360
149, 657, 260
3,116, 207,920
2, 982,116,315
134,091,605
3, 257,207, 400
3,116, 801, 545
140, 405, 855
3, 400, 781, 360
3, 255,076, 040
145, 705, 320

NOTE 1.—First issue Dec. 21,1863; first redemption Apr. 5,1865.




Twenties

Fifties

One
hundreds

Five
hundreds

One thousands

3, 068, 708, 690
2, 732, 775,070
335, 933, 620
3,235,914, 290
2,926, 062, 500
309, 851, 790
3, 385, 973, 520
3,086, 402,180
299, 571,340
3, 499,038, 440
3, 208,165, 630
290,872, 810
3, 652,918,890
3,370,458,290
282,460,600
3, 863, 905,000
3, 558, 475,410
305,429, 590
4,141, 546,970
3,826,073, 620
315,473, 350
4, 395,016, 970
4,072,078, 350
322,938, 620
4, 647, 494, 460
4,323,779,650
323, 714,810
4,894,019, 390
4, 568, 745,090
325, 274, 300
5,114,836, 580
4, 815,862,380
298, 974, 200
5, 340, 485,100
5,049,077,890
291, 407,210
5, 561,933,120
5, 275,212, 710
286,720, 410

1, 800,204,940
1, 555,221,880
244, 983,060
1, 895,074,220
1, 657, 346, 840
237, 727, 380
1, 980, 572,240
1,738, 203,080
242, 369,160
2,046, 661, 760
1, 798,100, 720
248, 561,040
2,134, 771, 820
1,900, 338, 700
234, 433,120
2,256,235, 520
2,012, 790, 440
243, 445,080
2, 415,643, 670
2,173, 273,160
242, 370, 510
2, 561,245, 350
2, 312,253, 700
248, 991, 650
2, 705, 631, 630
2, 456, 824, 520
248,807,110
2,847,074, 790
2, 599,117,260
247,957, 530
2,975, 540, 250
2, 743,128, 860
232, 411, 390
3,105, 239, 610
2,880, 562, 880
224, 676, 730
3,229,043,170
3,003, 520, 200
225, 522,970

278, 464, 450
247,251, 800
31,212, 650
287, 566, 300
257,870,000
29, 696, 300
295, 589, 900
265,712, 200
29, 877, 700
300, 579, 200
270, 694, 800
29,884,400
311,156,350
280,299,900
30, 856, 450
321, 370,450
291, 508, 450
29,862, 000
332, 564, 950
304,103,200
28, 461, 750
342, 216,050
315,487, 700
26, 728, 350
353,112, 650
325,072,850
28,039, 800
362, 802, 750
335,219,000
27, 583,750
370, 484, 550
345, 017,800
25, 466, 750
378, 354, 750
354, 890,850
23, 463, 900
388, 738, 350
363, 835, 500
24, 902, 850

411, 536, 200
369,129, 900
42, 406, 300
418, 407,000
381, 368, 900
37, 038,100
424,100, 400
389,040, 200
35, 060,200
427, 777, 200
393, 559, 500
34,217, 700
435,249,100
402, 042, 300
33,206, 800
442,267,100
411,724, 400
30, 542, 700
449, 880, 500
421, 019, 300
28,861,200
456, 449,900
429, 753,200
26, 696, 700
463, 738, 500
436,442, 500
27,296, 000
470, 320, 400
443, 579,000
26,741, 400
475, 441, 600
450,454,100
24,987, 500
480, 688, 400
457, 586,000
23,102, 400
487, 610, 800
464,120, 600
23, 490, 200

12, 289, 500
12, 201, 000
88,500
12, 289, 500
12, 201, 500
88,000
12, 289, 500
12, 201, 500
88,000
12, 289, 500
12,201, 500
88,000
12, 289, 500
12.201, 500
88, 000
12, 289, 500
12.202, 000
87,500
12, 289, 500
12,202, 000
87, 500
12, 289, 500
12, 202, 000
87, 500
12, 289, 500
12, 202, 000
87, 500
12, 289, 500
12,202, 000
87,500
12,289, 500
12, 202, 000
87, 500
12, 289, 500
12, 202,000
87,500
12, 289, 500
12, 202, 000
87, 500

7, 454, 000
7, 432, 000
22,000
7, 454, 000
7, 432, 000
22, 000
7, 454, 000
7, 433,000
21,000
7, 454, 000
7, 433, 000
21,000
7, 454, 000
7, 433, 000
21,000
7, 454, 000
7, 433, 000
21,000
7, 454,000
7, 433,000
21,000
7, 454, 000
7, 433, 000
21,000
7, 454, 000
7,433, 000
21, 000
7, 454,000
7, 433,000
21, 000
7, 454,000
7, 433, 000
21,000
7, 454,000
7, 433,000
21, 000
7, 454,000
7,433,000
21,000

NOTE 2.—Gold notes included since 1915.

to
to

OS

Total

Issued during current
year

7, 570,896,155 364,049,710
6,789,681,880
781,214,275
7, 927,196, 905 356, 300, 750
7, 200, 084, 290
727,112, 615
8,252, 767, 335 325,"576,"430
7, 535,765,051
717, 002, 284
8, 512,922, 475 260,155,140
7,790,844, 446
722,078, 029
8,869, 660, 575 '356,~738~I66
8,145,816, 836
723,843,739
9,325,707, 345 456,046,770
8, 590,154,821
735, 552, 524
9,929,009, 045 603,361,700
9,181,460, 551
747, 548,494
10,498,453,185 569, 444,140
9, 732, 302, 886
766,150, 299
11,068,309, 255 569,856,070
10, 292,084, 386
776,224,869
11, 618,808,165 '556,~498,~9l6
10,840,981,084
777,827,081
12,110, 919,115 492,110,950
11, 394, 374,829
716, 544,286
12, 620,383,475 509,464,360
11, 916, 714, 539
703, 668,936
13,126, 515, 015 566,~m,~540
12,419, 560,424
706,954, 591

NOTE 3.—Fractions and nonassorted notes not included.

REPORT OF THE COMPTROLLER OP THE CURRENCY

227

TABLE NO. 23.—National-bank currency issued to banks monthly from November
1, 1926, to October 81, 1927, and since 1868
Issued on
account of
redemptions

Issued on
bonds

Total issued

Grand total
issued since
1863

1926

November
December

$38, 524,000
39, 585,140

$1,960,000
1,194,600

$40,484,000 $12,660,867,475
40, 779, 740 12, 701, 647, 215

1927

January
February. _
March
April
May
June
July
August
September
October

43,232, 750
40,028, 630
40, 663,950
36, 624, 660
36,403, 750
33,811, 430
40,174, 540
42, 603, 320
37, 788, 710
46, 446, 610

44, 908, 380
43, 469, 780
43, 541,090
40,115,340
43, 305,130
35, 719,430
43,312, 530
43,287, 510
39,128,4,50
48,080,160

475, 887, 490

Total

1, 675, 630
3, 441,150
2, 877,140
3,490, 680
6, 901, 380
1, 908,000
3,137, 990
684,190
1,339, 740
1, 633, 550
30, 244,, 050

12, 746,555,595
12,790,025,375
12,833, 566,465
12, 873,681,805
12,916,986,935
12,952, 706, 365
12,996,018,895
13,039,306,405
13,078,434, 855
13,126,515,015

506,131, 540

TABLE NO. 24.—National-bank notes received monthly for redemption during year
ended October 81, 1927 1
Received by the Comptroller of the Currency

Months

From national
banks in connection with
reduction of
circulation
and replacement with
new notes

From the redemption agency
Total
For replacement with
new notes

Retirement
account

1926

November..
December..

$1,200
310

$38,343,520
41,411,937

5,000
97,400
600
5,260
3,450
1,100
10,200
8,265
2,000
5,900

44,868,860
38,892, 580
38, 728,183
36, 507, 945
36,542,010
35,432, 270
40, 756,710
40,653,110
38, 569,085
46,081,127

$2,161,225
2,292,150

$40,505,945
43, 704, 397

1927
January
February. _
March
April
May
June
July._
August
September.
October

Total
Keceived from June 20, 1874, to Oct.
31,1926
_.
Grand total
1

47,454, 760
41,499,905
40,807, 548
38, 727,070
38,684, 430
37, 507,100
42,940, 760
43,005,755
40,648, 630
48,367,027

140,685

\

476, 787,337

26, 925,305

503,853,327

58,594,730

10,010,507,158

1,687,358,107

11,756,459,996

58,735,415

10,487,294,495

1, 714,283,412

12,260, 313,323

Notes of gold banks not included in this table.




2, 580,900
2, 509, 925
2,078,765
2, 213, 865
2,138, 970
2,073, 730
2,173, 850
2,344, 380
2,077, 545
2, 280,000

228

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 25.—National-bank notes received at currency bureau and destroyed

yearly since establishment of the system
Amount

Date
Prior to Nov 1,1865
During the year ended Oct. 31—
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899

$175,490
---

-

-

- -

- -

1,050,382
3,401,423
4,602, 825
8,603, 729
14, 305, 689
24,344,047
30, 211, 720
36,433,171
49, 939, 741
137, 697, 696
98, 672,716
76,918,963
57,381, 249
41,101, 830
35, 539, 660
54,941,130
74,917, 611
82,913,766
93,178,418
91,048,723
59,989,810
47,726,083
59, 568, 525
52,207, 627
44,447,467
45,981,963
43,885, 319
44,895, 466
62,835. 395
46,997, 527
53, 613, 811
83,159, 973
66,683, 467
59, 988, 303

Date

Amount

During the year ended Oct. 31—Con.
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
_ _
1910
1911
1912
1913
1914
1915
1916
1917
1918
„
1919
1920
1921
1922
1923
1924
. „
1925
1926
1927 _.

_

_

_.

_

.

Additional amount of insolvent and
liquidating national-bank notes
destroyed
Gold notes
Grand total

$71,065,968
90,848,100
107,222,495
140,306,990
167,118,135
195,194,785
191,102,985
197,932,847
231,128,140
348,159,995
359,496,000
409,835,965
428,399,608
426,282,840
435,904,280
362,551,125
351,717,477
298,468,107
238,184, 520
330,106,555
424, 542,837
570,887,902
537,153, 570
542,194, 707
522, 241,817
470,146,975
487, 254,340
475,920, 522
1,725,001, 740
3, 390, 560
12,419,791, 505

In addition $46,115 destroyed in transit.

TABLE N O . 26.—National-bank notes issued during each year 1914 to 1927, na-

tional-bank notes of active, insolvent, and liquidated banks destroyed, total destructions for each year, and percentage of destructions to issues
[For prior years, see annual report 1920]
Destroyed

Year ended
Oct. 31—

1914
1915
1916
1917.
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927

Issued

$818, 227, 830
364V 049, 710
356, 300, 750
325, 570,430
260,155,140
356, 738,100
456,046,770
603,301, 700
569,444,140
569,856,070
550.498, 910
492,110,950
509,464,360
506,131,540




Insolvent
Active banks and liquidated banks
$435,904, 280
362, 551,125
351, 374, 597
298,468,107
236, 296, ()60
330,106, 555
4 2 1 542, 837
570,887, 902
537,153, 570
542,194, 707
522, 241, 817
470, 950, 865
487,254, 340
475,920, 523

$20,246,418
342, 807, 352
59,026, 804
38,901,595
20, 238, 717
24,864, 635
19, 794, 540
20,417,025
13, 688, 630
17, 586, 750
26, 654, 568
82,442, 855
35,085,342
26,925,355

Total

$456,150, 698
705, 358, 657
410,401,401
337, 369, 702
256, 535,377
354, 971,190
444,337, 377
591,304,927
550, 842,200
559, 781, 457
548,896,385
553,393, 720
522,339, 682
502,845,878

Total outstanding

$1,121,468,911
781, 268, 793
726, 069, 290
716, 276,375
721, 471,137
722,394,325
732, 549, 629
743, 288,847
760, 679,187
772, 606,269
774, 281, 624
713,802,744
700, 714, 532
702,992,694

Per cent
destructions
active
banks to
issues
53.27
99.59
98.62
91.68
90.83
92.53
93.09
94.62
94.33
95.14
94.86
95.70
95.64
94.03

Per cent
destructions to
issues

55.75
193. 75
115.18
103.62
98.61
99.50
97.43
98.01
96.73
98.23
99.73
112.45
102. 52
99.35

229

REPOET OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 27.—Amount, denomination, and cost of national-bank currency
received from Bureau of Engraving and Printing, year ended October 31, 1927
Denominations

Cost
Cost of paper printing,of
etc.

Amount

Total cost

5, 5, 5, 5
10,10, 10, 10..
10, 10, 10, 2050, 50, 50, 100.

$146,469, 780
35, 637,480
316, 207, 650
19, 008, 250

$50, 532. 07
6,147. 46
43, 636. 66
524. 63

$347, 279. 85
42, 248. 23
299, 891. 34
3, 605. 48

$397, 811. 92

Total..

517,323,160

100,840. 82

Q, 024. 90

793,865. 72

343, 528. 00
4,130.11

TABLE N O . 28.—Vault account of currency received and issued by currency bureau
during the year and the amount on hand October 81, 1927
National-bank currency in vaults at the close of business, Oct. 31,1926_ _
__.
$198,641,960
National-bank currency received from Bureau of Engraving and Printing during the year
ended Oct. 31, 1927
517,323,160
Total to be accounted for..._
Amount issued to banks during year
Amount withdrawn from vaults and canceled

$506,131,540
7,379,840

Total withdrawn

715,965,120
513,511,380

Amount in vaults at close of business, Oct. 31,1927

202,453,740

TABLE N O . 29.—Vault account of currency received and destroyed during
ended October 31, 1927

year

Amount in vault of redemption of currency bureau awaiting destruction at close of business
Oct. 31, 1926
$3,015,550.00
Amount received during year ended Oct. 31,1927
503,853,327.50
Total
Withdrawn and destroyed during the year
Balance in vault Oct. 31, 1927

506,868,877.50
502,845,827.50
4,023,050.00

TABLE N O . 30.—Amount of currency received for redemption, by months, from
July 1, 1926, to June 30, 1927, and counted into the cash of the National Bank
Redemption Agency
National-bank

notes

Federal
reserve bank Federal reserve United States
currency
notes
notes

1926

July.—
August
September..
October
November..
December..
January _
February..
March
April
May
June..

$42, 980, 390. 00
41, 532, 673. 00
43, 641, 516. 00
44,105, 598. 50
40, 631, 292. 00
42, 549, 242. 50

$126,319. 00
83, 298. 00
80, 732. 00
89, 720. 00
73,912. 00
107, 836. 00

$1, 633, 575. 00
1, 549,390. 00
1,638, 570. 00
1,869, 230. 00

Total

$9,230. 58
21, 077. 81
9,961. 79
16,120. 09
10, 600. 47
17, 202. 22

$44, 749,514. 58
43,186,438.81
45,370, 779. 79
46, 080, 668. 59
42, 005, 284. 47
44,048, 585. 72

1, 378,430. 00

19,606. 32
9,960. 50
13,314. 01
15, 693. 26
12,357. 91
14,136. 61

51,771,761.32
37, 581,347. 50
43, 810,497. 01
39, 521,059. 26
41, 249, 554. 91
43, 220, 774. 61

17, 828, 962. 50

>9, 261. 57

522, 596, 266. 57

1,289,480. 00
1,374,305. 00

1927

Total




50,
36,
42,
37,
39,
41,

062, 054. 00
277, 819. 00
371, 505. 50
937,134. 00
813, 648. 00
778, 097. 00

65, 686. 00
48, 278. 00
60, 245. 00
62, 737. 00
68,199. 00
50, 111. 00

503,680,969.50

917,073. 00

1,624,415. 00

1,245, 290. 00
1,365,432. 50
1,505,495. 00
1,355,350. 00

230

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 31.—Amount of currency received by National Bank Redemption
Agency for redemption in year ended June 80, 1927, from principal cities
$8,848,000.00
Boston
$34,308,820.00 Kansas City
15, 059, 600. 00
New York.._
101, 749, 200. 00 Dallas
15,876,600.00
Philadelphia
43,438,241.50 San Francisco.
12,618,500.00
Cleveland
_._
22, 318, 900. 00 Cincinnati.
Richmond_
._ 24,984,100.00 Baltimore
7,796,100.00
6,894,900.00
Atlanta
12,869,500.00 New Orleans
138, 688,643. 59
Chicago
50,400,154.50 Other sources_.__
St. Louis
16,787,329.00
Minneapolis
9,987,650.00
Total
522,626,238.59
NOTE.—The difference of $29,972.02 between the totals shown by this table and Table No. 30, represents
the net adjustments for overs, shorts, and spurious issues found in remittances received.
The total amount of currency of ail issues received by the National Bank Redemption Agency and
counted into cash from June 30, 1874, to June 30, 1927, exclusive of deductions for shortages and spurious
issues, is $17,008,959,819.87.

TABLE NO. 32.—Cost of redemption of national bank notes during the year ended
June 30, 1927
Amount of expenses
Office
Office Treasurer Comptroller
U.S.(N.B.R.A.) of Currency
Redeemed out of 5 per cent fund, unfit for use:
Salaries
Printing, binding, and stationery
Contingent expenses
.__
Express charges
Insurance
Postage
Total

$244,463.19
3,622. 73
3,313. 81
416. 67
21, 262. 20
11, 754. 55

162,973. 45

447, 806.60

.-.

13,993. 62
207. 37
189.69
23.85
1,217.10
672. 86

3,194. 33
75.54
30.46

17,187. 95
282. 91
220.15
23.85
1,217.10
672. 86

_

301,137.64

Total

16,304. 49

Aggregate--

Amount
redeemed
Redeemed out 5 per cent fund, unfit for useRedeemed on retirement account




$55, 803. 77 $300,266.96
1,319. 73
4, 942. 46
532.09
3,845. 90
416.67
21, 565. 09
42,827.29
83, 752. 77
95,507. 32

284, 833.15

Redeemed on retirement account:
Salaries
Printing, binding, and stationery
Contingent expenses..
Express charges
Insurance
Postage

Total

Total

-

3,300.33

19,604.82

166.273.78

467,411. 42

Rate per
$1,000

Amount of
expenses

$475,227, 847. 50 $0.94229873 $447, 806.60
27,203,100. 00
19,604. 82
. 72068323
502, 430,947. 50

467,411. 42

REPORT OP THE COMPTROLLER OF THE CURRENCY

231

TABLE NO. 33.—Classification of Federal reserve currency redemption, the amount
redeemed, number of notes, cost of redemption per 1,000 notes, and amount assessed upon Federal reserve banks, year e?ided June 30, 1927
Office
Treasurer
U. S. (N.
B. R. A.)
Federal reserve notes:
Received from sources other than Federal reserve banks—
Salaries
Printing, binding, and stationery
Contingent expenses
.

$1,311.30
19.43
17.78

$1,311.30
19.43
17.78
1,348.51

51, 208. 95
355. 57
3,148. 64

51,208. 95
355. 57
3,148.64

54, 713.16

Total
Federal reserve bank notes:
Received from all sourcesSalaries.
Printing, binding, and stationery..
Contingent expenses
Express charges
Insurance
_.
Postage

54, 713.16

356. 85
5.29
4.84
.62
35.83
91.05

Total amounts assessed against Federal reserve issues

$2,123. 58
1.98
.80

2,480. 43
7.27
5.64
.62
35.83
91.05

494. 48

-

Total..

2,126.36

2,620. 84

56, 556.15

2,126. 36

58,682. 51

Number of

Federal reserve notes:
Received from sources other than Federal
reserve banks and branches
Received direct from Federal reserve banks
and branches, canceled and cut
Federal reserve bank notes:
Received from all sources, including Federal reserve banks and branches

$17,955,605. 00
1,370,635,100. 00

Rate per j Assess1,000 notes j ment

1,766,874 $0. 76321743

16

152,616,684

. 35850051

858,910.00

480,835

5. 45060155

1,389,449,615.00

Total




Total

1,348. 51

Total
Received direct from Federal reserve banks and branches,
canceled and c u t Salaries
_
Printing, binding, and stationery
Contingent expenses..

71284°—28

Office
Comptroller of
Currency

154, 864,393

.37892836 j

$1,348. 51
54,713.16
2,620. 84
58,682.51

232

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 34.—Taxes assessed on national-bank circulation, years ended June 30,
1864, to 1927; cost of redemption, 1874 to 1927; and assessments for cost of plates,
etc., 1888 to 1927

Year

1864-1882.
1874-1882.
1883
1884
1885
1887..
1888_
1889..
1890..
1891..
1892..
1895..
1896..
1897..
1898..
1899..
1900..
1901..
1902_
1903..
1904_.
1905..
1906..
1907..
1908..
1909.
1910.
1911..
1912..
1913..
1914..
1915..
1916..
1917_
1918..
1919..
1920..
1921 .
.
1922..
1923..
1924..
1925.
1926..
1927..

Semiannual
duty on
circulation

Cost of
redemption
of notes by
the United
States
Treasurer

Assessment for
cost of
plates,
new
banks

ment
for
cost of
plates,
extended
banks

ment
for
cost of
plates,
additional
or duplicate

$52,253, 518.24
$1,971,587.10
147,592.27
3,024,668.24
160,896.65
2,794, 584.01
181,857.16
2,592,021.33
168,243.35
2,044,922. 75
138,967.00
1,616,127.53
141,141.48
1,410,331.84
131,190.67
1,254,839.65
107.843.39
1,216,104.72
99,366.52
1,331,287.26
100,593. 70
1,443,489.69
103,032.96
1,721,095.18
107,445.14
1,704,007.69
100,352.79
1,851,676.03
114,085.63
2,020,703.65
125,061.73
1,901,817.71
125,924. 35
1,991,743. 31
121.291.40
1, 881,922. 73
122,984. 76
1,599,221.08
146,236.18
1,633,309.15
153,796. 33
1,708,819.92
174,477. 62
1,928,827.49
219,093.13
2,163,882.05
247,973. 26
2,509,997. 80
250,924.24
2,806,070.54
233, 650.52
3,090,811.72
270,840.21
3,190,543.04
396, 743.15
3,463,466.68
434.093.10
3,567,037.21
443, 380.12
3, 690,313. 53
505, 735.21
3,804,762.29
517, 842.93
3,889.733.17
529,013. 36
r i 3,90i; 541.18
I 2,977,066.73 [ 498,328. 60
3,744,967.77
450,150.22
3,533, 631.28
420,160.42
3,656,895.34
412, 785.92
3,627,060.80
528,424. 24
3, 706,901.15
974.058.11
3,806,590.02 1,115,146.00
3,941,461.17
2 594,168. 70
4,030,336.30
514,598. 55
4,063,708.32
527.979.90
3,661,819.45
459, 790.43
3,277,512.90
494.470.91
3,253,461.97
467,411.42

""3,~l32\~666.~73*

T o t a l . . . . 177,416,618.34

16,250,730.83

$25,980
18,845
13,150
14,810
18,850
14,100
12,200
24,175
18,575
15,700
14,225
4,050
4,950
5,450
3,050
5,275
8,200
29,200
85,975
43,200
54,475
45, 500
47,825
54,150
76,275
48,450
31,475
55,125
27,875
22,740
28,560
11,560
16,660
10,085
9,200
16, 770
15,600
31,850
31,070
18,244
23,464
18,756
12,682
22,948
21,106
1,132,405

$34,120
1,950
97,800
24,825
1,750
3,900
575
725
7,200
8,100
5,200
4,375
6,875
3,750
1,700
1,775
2,850
15,050
13,500
14,425
40,325
12,600
64,800
31,450
12,975
10,025
10,800
17,500
22,375
28,190
19, 805
8,500
13,855
9,700
6,000
11,120
15,340
28,990
82,160
52, 780
5,850
3,556
4,456

763,597

$4,130
6,975
6,300
11,175
3,420
6,460
9,100
7,590
20,770
12, 670
17,226
25,262
31,388
4,404
30,564
30,188
227,622

ment
for
adding
signatures
to
plates,
etc.

Total

$52,253,518.24
1,971,58*7.10
3.339,699.00
3,206,359.89
3,087,391,17
2,799,899.68
2,204,489.75
1.775,269.01
1,554,297. 51
1,387,583.04
1,341,246.24
1,455,680.96
1,565,947.65
1,836,965.32
1,816,185.48
1,974,961.66
2,150,515.38
2,034,792.06
2,124,084.71
2,049,157.49
1,844,932.26
1,844,730.48
1,978,097.54
2,206,020.62
2,524,480.31
2,846,522.04
3,128,971.06
3,420,126.93
3,629,561.19
3,970,184.78
4,060,667.33
4,251,108. 74
4,377,945.22
4,445,106.53
7,418,626.51
4,218,322.99
3,975,451.70
4,106,671.26
4,194,015.04
4,762, 569.26
5,047,636.02
4.624,372.87
$493
4,600,351.85
841
4,646,161.22
773
591
4.143,742.88
3,827,105.81
1,610
3,773,183.39
1,016
5,324

195,796,297.17

1 Tax collected on additional circulation under act May 30,1908.
2 Average cost per $1,000 for national-bank notes redeemed in 1922, $0.95; in 1923, $0.95; in 1924, $0.96;
in 1925, $0.83; in 1926, $0.94, and in 1927, $0.93.




RBPOKT OF THE COMPTROLLER OF THE CURRENCY

233

TABLE N O . 35.—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 8, 1926, to October 26, 1927
[In thousands of dollars]
Collateral security
Date

1926

Nov. 3
Nov. 10
Nov. 17
Nov. 24..
Dec. 1
Dec. 8_
Dec 15...
Dec. 22
Dec. 29
Jan. 5
Jan. 12
Jan. 19
Jan. 26
Feb. 2_.
Feb. 9
Feb. 16...
Feb. 23....
Mar. 2
Mar. 9.
Mar. 16
Mar. 23
.Mar. 30
Apr. 6
Apr. 13....
Apr. 20..
Apr. 27...
May 4
May 11
May 18.
May 25.
_
June 1
June 8
June 15
June 22
June 29..
July 6
July 13
July 20..
July 27..
Aug.3__
Aug. 10
Aug. 17_
Aug. 24_
Aug. 3 1 . . .
Sept. 7
Sept. 14
Sept. 21.
Sept. 28
Oct. 5 Oct. 12
Oct. 19
Oct. 26

1927
_.

_




,

Federal reserve notes
outstanding

Gold

2,060,346
2,083,912
2,087, 229
2,090, 773
2,115,402
2,157, 542
2,188,375
2,267,160
2,264,775

1,337,772
1,387,666
1,397,938
1,395,138
1,342,346
1,348,339
1,435,352
1,376,776
1,369,124

2,252,134
2,210,403
2,163,005
2,112,168
2,088,703
2,076,775
2,069,846
2,066,648
2,072,241
2,097, 755
2,092, 209
2,093,503
2,098,296
2,112, 502
2,125,546
2,136,367
2,119,018
2,110,072
2,101, 295
2,096,740
2,099,295
2,105, 774
2,107,085
2,086,717
2, 078,876
2,076,382
2,108,861
2,106,577
2,081,856
2,056,802
2,052,848
2,044,299
2,055,128
2,042,289
2,039,857
2,075,645
2,092,364
2,116, 568
2,111,962
2,102,419
2,105,871
2,122,012
2,124,786

1,419,755
1,523,670
1,575,495
1,601,114
1,552,754
1,552,632
1,547,671
1, 560,960
1, 534,183
1,573,277
1,689,080
1,619,911
1,613,495
1,630,855
1,628,860
1,658,165
1,628,235
1,571,158
1,631, 543
1,637,863
1,651,246
1,610,437
1,634,388
1,678,233
1,619,569
1, 591,906
1,606,704
1,633,803
1,664,068
1,652,604
1,588,341
1,615,882
1,636,161
1, 615,271
1,640,260
1, 579, 526
1,665,739
1, 657, 755
1,630, 529
1, 561,864
1,604.948
1,632, 507
1,623,253

Eligible
paper

Excess
collateral

958,606
884,836
891,338
939, 544
988,404
975,741
919,193
1,066,858
1,058,364

236,032
188,590
202,047
243,909
215,348
166,538
166,170
176,474
162,713

996,817
812,610
733, 259
651,717
694,440
666,719
689,590
654, 539
700, 594
657,734
532,184
666,442
670,937
620,052
650,279
641,656
654,902
715,324
649, 557
653,181
641,963
703,210
607, 560
525,947
587, 585
647,180
657,099
575,874
549.845
534, 279
598, 287
558,173
539,087
567, 272
553,416
616,489
567,211
595,740
634, 517
705,356
674,592
669,786
674,931

164,438
125,877
145,749
140,663
158,491
142,576
167,415
148,851
162,536
133,256
129,055
192,850
186,136
138,405
153, 593
163,454
164,119
176,410
179,805
194,304
193,914
207, 873
134,863
117,463
128,278
162,704
154,942
103,100
132,057
130,081
133, 780
129,756
120,120
140,254
153,819
120,370
140,586
136,927
153,084
164,801
173,669
180.281
173,398

TABLE N O . 36.—Federal reserve notes printed, shipped, and canceled, issued to banks, retired, and destroyed since organization of the banks,
with the balance in vaults and amount outstanding October 31, 1927
VAULT BALANCE OCTOBER 31, 1927
Fives
Total printed _..
Total shipped and canceled

Tens

Twenties

Fifties

One
hundreds

Five
hundreds

One
thousands

Five
thousands

Ten
thousands

Total

$5,123,800,000 $5, 624, 720.000 $5, 892, 240,000 $1, 240,800,000 $860,400,000 $173.000,000 $333, 600,000 $108,000,000 $184,000,000 $19, 540,560,000
4, 717,800,000 5,272,240,000 5, 504, 240, 000 1,128,600,000 770,000,000 117,000,000 260, 000, 000
76,000,000 184,000,000 18, 029,880, 000

Total on hand__

406, 000,000

352,480,000

388,000,000

112,200,000

90, 400,000

56,000,000

73, 600,000

32,000, 000

1, 510, 680, 000

3

ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1927

O

Total issued
Total retired

$5,118,084,000 $5,835, 724, 540 $6,214, 469, 540 $1, 239,459, 550 $905, 519,800 $131, 606, 500 $347, 500, 000
4, 681, 573, 295 5, 277, 731,080 5, 558, 654, 960 1, 065,584, 400 734,405, 800 100, 958,000 270, 213,000

Total outstanding
MUTILATED
Boston
New York
Philadelphia
Cleveland
Richmond..
Atlanta
Chicago
St. Louis.._
Minneapolis __
Kansas City.__
Dallas--.
San Francisco

FEDERAL

77, 287,000

4, 570,000

557, 993, 460

655, 814, 580

173,875,150

171,114,000

30, 648, 500

$83,860,000 $19,922,263,930
76, 280,000 17, 806, 870, 535
7, 580,000

RESERVE NOTES, BY DENOMINATIONS, RECEIVED AND DESTROYED SINCE ORGANIZATION
ON HAND IN VAULT OCTOBER 31, 1927

_

Balance on hand
NOTE.-

$46, 040, 000
41, 470, 000

436, 510, 705

Total received-Total destroyed.

mined.

s
s

$354, 812,890
1,127, 752,870
385, 930,365
264, 290, 560
193, 948, 775
209, 036,150
608, 748, 235
174, 898,030
114,839, 635
176,097,315
110, 307, 505
366,995, 665

$559,485,820
1, 359, 536,180
437, 312, 760
316, 040, 940
217, 921,150
215, 938, 030
631, 222, 980
171,220, 000
104, 346, 510
120, 486,110
98,870, 230
301, 553,130

4,087,657,995 4,533,933,840
4,082,134,495 4, 530, 407,340
5, 523, 500

3,526,500

$420, 791,000
900, 876, 280
499,183,040
597, 864, 500
271, 598,160
235, 094, 440
727,064, 920
175, 781, 060
86, 365,000
136,473, 400
102, 728, 260
503,586, 760

$38,858,100
181,859, 550
134,143, 800
221,972, 050
62,112, 700
24, 735,100
133,560, 900
20,743, 700
4.358,900
7,821,700
7,755,550
43,870,250

$46, 353,000
209, 376, 300
43, 491,100
40, 915, 700
29,165, 800
22, 201, 200
45, 964, 800
11, 059, 300
5, 598,100
9, 754, 900
7, 328, 400
65, 241, 500

$3.
38,
1,
3,

430, 500
634,000
669, 500
890, 500
313, 500
4, 537, 500
5, 913,000
1,150, 000
473, 000
1,000, 000
488, 500
3, 766, 000*

$12, 528,000
86, 351,000
7, 295,000
4,661,000
5,018,000
9,149, 000
7,160, 000
2,413, 000
887,000
1,138,000
941,000
8, 528, 000

4, 657, 406,820
4, 653,774,820

881,792, 300
880,769, 700

536, 450,100
535, 895, 800

65, 266, 000
65,128, 000

148,069, 000
145,885, 000

3,632,000

1,022, 600

554, 300

138, 000

184,000

2,115,393,395

OF BANKS AND

$330,000
545, 000

$430, 000
2, 500, 000

95,000
10,000

220, 000
90, 000

130, 000
75,000

420,000

4, 925, 000

~I6,~26O,~666~

437,019, 310
907, 431,180
509, 025, 565
449,950, 250
780,178, 085
720, 691, 420
2,159, 764, 835
557, 760,090
316, 868,145
452, 771, 425
328,419.445
1,308, 726, 305

6,110,000
6,110, 000

13, 920, 000
920, 000

14,928, 606, 055
14, 914, 025,155

I

$1,
3,
1,
1,

14, 580,900

-During the year burned, badly mutilated, and fractional parts of Federal reserve notes amounting to $21,457 have been identified, valued, and the bank of issue deter-




o
S

O

3

TABLE NO. 37.—Aggregate amount of Federal reserve bank notes printed, issued, canceled, and redeemed, by denominations, since the inauguration
of the Federal reserve system, and amount on hand and outstanding October 81, 1927
VAULT BALANCE OCTOBER 31, 1927
Ones
Total printed
Total issued and canceled

Twos

Fives

$136,232,000
136,232, 000

$478, 892, 000
478, 892,000

Tens

Total on hand

$24,040,000
24,040,000

Fifties

$14,030, 000
14, 080,000

$2,600,000
600,000

$788,344,000
778,164,000

2,000,000

$132, 500, 000
124, 320, 000

Twenties

10,180,000

8,180, 000

Total

3
3

ISSUED, R E D E E M E D , AND OUTSTANDING OCTOBER 31, 1927

W
H

$478,892,000
476,444, 021

$135,192,000
134, 369,346

$121, 460,000
120, 755, 895

$16,440,000
16,217,690

$9,760,000
9,438,260

$200,000
179,650

$761,944,000
757,404,862

2,447,979

822, 654

704,105

222, 310

321,740

20,350

4, 539,138

a
o

TABLE NO. 38.—Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates for years ended June 80, 1915 to 1927

O

Total issued
Total redeemed

.

Total outstanding ..-

.,

Semiannual
taxes on circulation

1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927

.

.

.

._

. .

._

.

.

.

.

.
__

-

.

-

.

$2,325.18
3,590. 86
38', 750. 70
463,195. 96
1,023,344. 76
947,405. 00
445,944. 01
113,837. 32
2,890. 88

- Total

•




•
_

......

3,041,284. 67

Cost of redemption of
notes by the
United States
Treasurer

$947. 93
2,353. 41
34,419. 62
263,616. 78
243,517. 97
145,890. 53
53,011.08
11,310. 86
4,561.17
3,090. 09
2,620.84
765,340. 28

Assessment for
cost of original
plates

$1,800. 00
2,200. 00
23,810. 00
390. 00

28,200. 00

Assessment for
cost of additional or duplicate plates

$540. 00
720. 00
180. 00
138, 530. 00
88,270. 00
136, 570. 00
2,140. 00

366, 950. 00

Total

$1,800. 00
5,065.18
5,258. 79
41,284.11
659,955. 58
1,375, 621. 54
1.327,492.97
593,974. 54
166,848. 40
14,201. 74
4,561.17
3,090. 09
2,620. 84
4.201. 774. 05

2

to
CO

TABLE NO. 39.—National banks in charge of receivers, year ended October 81, 1927, 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 the
United States to redeem circulation, and total deposits at date of suspension
Total dividends paid
during exist-

Organization
Name and location of bank

Farmers & Drovers National Bank, Waynesburg, Pa
First National Bank, Billings, Mont
First National Bank, Pensacola, Fla
First National Bank, Sutton, W. Va
First National Bank, Uniontown, Pa
First National Bank, Eureka, S. Dak___
First National Bank, Towner, N. Dak
First National Bank, Hearne, Tex
Farmers National Bank, Cooper, Tex
First National Bank, Gridley, Calif...
First National Bank, Cut Bank, Mont
Picher National Bank of Picher, Okla
First National Bank of Ranger, Tex
First National Bank, Beaver, Pa
Corn Belt National Bank of Scotland, S. Dak.
First National Bank of Ambia, Ind
.
First National Bank of Desdemona, Tex
First National Bank of Sipe Springs, Tex
First National Bank, Marcus, Iowa
First National Bank of Bridgeport, Nebr
Bannock National Bank of Pocatello, Idaho _.
The Havre National Bank of Havre, M o n t . .
First National Bank of Joplin, Mont
National Bank of Cleburne, Tex_ . . _
United States National Bank, Vale, Oreg
First National Bank, Vale, Oreg
_
First National Bank, Burley, Idaho
Edwards National Bank, Booker, Tex
First National Bank, Wendell, Idaho
Stockmen's National Bank, Poplar, Mont
Stillwater Valley National Bank, Absarokee,
Mont.
National City Bank, Salt Lake City, Utah
First National Bank, Myton, Utah
State National Bank, Ardmore, Okla____
Cory don National Bank, Corydon, Ind
„.




Charter
No.

Date

839
3097
2490
6213
270
11527
7955
4976
10626
11164
9574
11624
8072
3850
11031
9510
11452
11525
9819
9711
6347
9782
10929
4035
9496
8528
10341
11408
9491
11027

Jan. 30,1865
Dec. 3,1883
July 10,1880
Apr. 7,1902
Jan. 2,1864
Nov. 18,1919
Sept. 29,1905
July 5,1894
Sept. 24,1914
Mar. 14,1918
Oct. 5,1909
Feb. 3,1920
Jan. 26,1906
Feb. 10,1888
May 28,1917
July 30,1909
Sept. 2,1919
Nov. 6,1919
June 22,1910
Feb. 23,1910
July 15,1902
May 18,1910
Nov. 11,1916
May 6,1889
July 8,1909
Jan. 14,1907
Feb. 20,1913
May 4,1918
June 30,1909
Feb. 17,1917

11066
10308
11702
10394
7760

Aug.
Nov.
Apr.
May
May

11,1917
19,1912
10,1920
6,1913
23,1905

Capital

national
banking
association

$150,000 $597,750.00
75,000
321,350. 00
50,000 1,036,343. 00
35, 000
31, 500. 00
60,000 1,308,000.00
50,000
7, 500. 00
25,000
20, 500. 00
50,000
178, 000. 00
50,000
40,000
25,000
24, 250. 00
100,000
25,000
50,250. 00
50,000
192,750. 00
25,000
1,750.00
25,000
11,250.00
25,000
25,000
100,000
56, 500. 00
25,000
21, 500.00
50,000
49, 000. 00
50,000
30,500.00
25,000
75,000
429, 375.00
75,000
52,500.00
25,000
20,000.00
30,000
12,450. 00
25,000
25,000
7,000.00
25,000
25,000
250,000
25,000
100,000
125,000

14,000.00
122,500.00
70,000. 00
216,250.00

Failures

Capital

$200,000
150,000
500,000
50,000
100,000
50,000
25,000
50,000
50,000
40,000
50; 000
100, 000
200,000
50,000
25,000
25,000
25,000
25,000
50,000
25,000
100,000
50,000
25,000
150,000
75,000
50,000
30,000
25,000
25,000
25,000
25,000
250, 000
25,000
200,000
125,000

Receiver
appointed

Dec.
July
Jan.
Aug.
Jan.
Aug.
Dec.
Jan.
Jan.
Jan.

12,1906
2,1910
22,1914
29,1914
19,1915
20,1920
28,1920
21,1921
28,1921
29,1921

. ...do

Feb. 21,1921
Mar. 2,1921
Mar. 26,1921
Mar. 28,1921
Apr. 5,1921
Apr. 7,1921
Apr. 18,1921
May 18,1921
do.
_.
June 11,1921
Sept. 16,1921
do.
Oct. 27,1921
Nov. 15,1921
do.
Nov.
Dec.
Jan.
Jan.

30,1921
12,1921
5,1922
28,1922

Jan. 30,1922
Feb. 3,1922
Feb. 24,1922
Mar. 4,1922
Mar. 8,1922

Apparent
cause
of
failure

A
A
A
B
A
B
B
C
C
C
A
C
C
B
A
B
A
A
C
AC
C
C
C
AB
C
C
C
C
C
C
C
C
A
A
C

Circulation
Total
Lawful
outstanding deposits at
money
at date of
date of susdeposited
failure
pension

d
O
O

$100, 000. 00 $100, 000. 00
37, 500. 00 37, 500. 00
489,900. 00 489,900. 00
50, 000. 00
50,000.00
100,000.00 100,000.00
20,895.00
10,900.00
21, 500.00
36,000. 00
5,800.00

24,995. 00
10,900. 00
21,500. 00
36,000. 00
5,800.00

22,400.00
47,900.00

22,400. 00
47,900.00

24,600.00

24, 600.00

21,800
20, 600. 00
11,700.00
49,600. 00

25, 000.00
21,100. 00
12,100.00
49, 600.00

74,997. 00
67,750.00
11,600. 00
29,600.00

75,000. 00
68,750. 00
11, 900. 00
29,600.00

24,300.00

24,300.00

243,300,00
2, 500. 00
99,995. 00
125,000.00

243,300.00
2, 500. 00
99,995. 00
125,000. 00

$1,047, 580
1,908.841
1,673,245
364,021
1,452,581
823,254
247,015
128,566
541,562
210,855
245,675
208,053
1,283,599
671,077
264,775
24,796
112,917
95,627
144,284
112,121
842,093
366,887
28,214
2,787,817
279,326
122,449
503,626
52,387
91,984
170,037
1,383,447
975, 659
984,671

w

§

3

First National Bank, Oak Grove, La
First National Bank, Spencer, Nebr
First National Bank, Ingomar, Mont
American National Bank, Billings, Mont
Merchants National Bank, Wimbledon, N.
Dak
*
_
First National Bank, Mountainair, N. Mex_.
First National Bank, Colusa, CaliL
_._.
Commercial National Bank, Great Falls,
Mont
Sterling National Bank, Sterling, Colo_
Payette National Bank, Payette, Idaho
First National Bank, Highwood, Mont
Citizens National Bank, Laurel, Mont
_.
First National Bank, Magdalnea, N. Mex
First National Bank, Broadview, Mont..
Commercial National Bank, Wilmington,
N.C
„
First National Bank, Winner, S. Dak
First National Bank, Wessington Springs,
S.Dak
_
First National Bank, Rupert, Idaho _ _
First National Bank, Warren, Mass
First National Bank, Harlowton, Mont
First National Bank, Clifton, Ariz
Springfield National Bank, Springfield, Ohio..
First National Bank, Roundup, Mont
First National Bank, Gregory, S. Dak_
First National Bank, Bottineau, N. Dak
Llano National Bank, Llano, Tex
Farmers & Merchants National Bank, Jefferson, Iowa
__
_
City National Bank, Jerome, Idaho._
„
First National Bank, Nampa, Idaho
First National Bank, Rock River, Wyo
First National Bank, Highland, Wis
First National Bank, Joseph, Oreg. _
Peoples National Bank, Salisbury, N. C
First National Bank, Big Sandy, Mont
First National Bank, Willow City, N. Dak...
First National Bank, Sapulpa, Okla
First National Bank, Chester, Mont._
__ .
First National Bank, Henryetta, Okla.
First National Bank, Carroll, Nebr...
First National Bank, Shelby, Mont
._
Fairfield National Bank, Fairfield, Iowa
Howard National Bank, Howard, S. Dak._.
Roundup National Bank, Roundup, Mont__
First National Bank, Oswego, Mont
First National Bank, Lovington, N. Mex
First National Bank, Wells, Minn
First National Bank, Mitchell, S. Dak




11650 M a r . 2,1920
7325 June 18,1904
11465 Aug. 16,1919
11696 Apr. 5,1920

50,000
25,000
25,000
150,000

280,750. 00
2,500. 00

8917 Sept. 17,1907
11329 Apr. 3,1919
10072 July 1,1911

30,000
30,000
75,000

15,000.00
4, 500. 00
34,500.00
106,000. 00

50,000
100, 000
25,000
150, 000

M a y 13,1922
July 14,1922
Aug. 14,1922
Sept. 23,1922

C
AC
A
AC

10,000. 00

10, 000. 00

19,700. 00

25, 000.00

200,000
150, 000
75, 000
25,000
35,000
50,000
25,000

C
C
A
A
C
C
C

177,600. 00

200,000.00

71, 700.00
25,000. 00
33,900. 00
47,200.00

75, 000. 00
25, 000. 00
35, 000. 00
50,000.00

200,000 Jan. 31,1923
do..
30,000

AC
A

91, 500. 00
18,400.00

100, 000.00
20,000.00

1, 991,806
186,104

39,300. 00
24,300. 00

50,000.00
25,000.00

12,100. 00
45,400. 00
94,750. 00
24,400.00
25, 000. 00
35,800. 00
4,800.00

12,100. 00
45, 400.00
94,750. 00
24,400.00
25,000. 00
35, 800. 00
4,700. 00

336,320
140,968
292,995
334,115
260, 527
1,772,465
487,252
176,708
333,101
271,311

20,1914
2,1921
9,1906
29,1917
3,1907
27,1912
26,1915

200, 000
150,000
50,000
25,000
35,000
50,000
25,000

12176
11119

Apr. 17,1922
Dec. 15,1917

200,000
30,000

9,000. 00

6446
10429
11567
9270
5821
2620
9165
8600
6085
5853

Sept.
July
Nov.
Oct.
May
Jan.
May
Feb.
Dec.
June

25,1902
29,1913
14,1919
27,1908
14,1901
17,1882
22,1908
22,1907
17,1901
5,1901

25,000
25,000
50,000
50,000
30,000
100,000
25,000
25,000
25,000
25,000

75, 250. 00
20, 000.00
2,000. 00
18, 500. 00
157,750.00
161, 500. 00
34,750. 00
89,490. 00
66,000.00
105,000.00

50,000
25, 000
50, 000
50,000
100,000
100,000
50,000
50,000
50,000
50,000

Feb.
5,1923
Feb.
7,1923
Feb. 23,1923
Mar. 7,1923
Apr.
2,1923
Apr.
5,1923
do.
Apr. 12,1923
...do
_ ..do.

AC
A
B
C
AC
B
C
C
AC
A

10123 Dec. 28,1911
11578 Dec. 22,1919
8370 Sept. 15,1906
11342 Apr. 24,1919
10880 June 14,1916
8048 Dec. 11,1905
9076 Mar. 10,1908
11004 M a y 9,1917
6766 Apr. 18,1903
5951 Aug. 19,1901
11105 N o v . 15,1917
6867 June 29,1903
5957 Aug. 21,1901
10953 Dec. 14,1916
8986 Dec. 24,1907
10780 Aug. 13,1915
10675 Oct. 26,1914
11134 Jan. 8,1918
11029 M a y 26,1917
4669 Dec. 12,1891
2645 Feb. 8,1882

40,000
30,000
25,000
25,000
25,000
25,000
100, 000
25,000
25, 000
25,000
25,000
25,000
25,000
25,000
60, 000
25,000
25,000
25,000
30,000
50, 000
50,000

29,600.00

40,000
30,000
200,000
50,000
25,000
25,000
100,000
25,000
25,000
100, 000
25,000
50,000
50,000
25,000
60,000
25,000
25,000
25,000
30,000
100,000
100,000

Apr. 27,1923
May 24,1923
June 1,1923
June 14,1923
do
.do
July 3,1923
July 7,1923
July 12,1923
July 30,1923
do
July 31,1923
Aug. 13,1923
Aug. 27,1923
Aug. 30,1923
Sept. 1,1923
Sept. 6,1923
Oct. 5,1923
Oct. 8,1923
Oct. 22,1923
Oct. 23,1923

C
C
C
A
B
AC
C
C
AC
C
AC
C

32,000.00
136,000. 00
10,000. 00
44,750. 00
177,550. 00
75,000. 00
73,750.00
2,500.00
4,500. 00
9, 000.00
213,750. 00
167, 500.00

32,062
550,133
174, 230
499, 259

C
C
C

Apr.
May
Jan.
Dec.
May
Aug.
Nov.

125,563.00

99,995. 00

25, 000 Oct. 27,1922
30,000 Nov. 2,1922
150,000 Nov. 22,1922

10530
11972
8075
11131
8716
10268
10809

76,750. 00
7, 500.00
7,700. 00
17,500.00
11,500.00

99,995. 00

Dec.
Dec.
Dec.
Dec.
Jan.
Jan.
Jan.

9,1922
11,1922
13,1922
29,1922
4,1923
18,1923
30,1923

c
c

A
AC
AC
C
C
A
AC

40,000.00

40,000.00

105, 500. 00
13,700. 00

105,50Q. 00
13,700. 00

24,300. 00
92, 800. 00

24,300. 00
94,700. 00

24,300. 66
44,900. 00
24, 500. 00
24,300. 00
21,400.00

24,300. 66
45,800. 00
24, 500. 00
24, 600. 00
25,000.00

96,400.00
99,000.00

97,000.00
99,000.00

60,490
205,020

1,067,638
475,881
201, 514
139,808
215, 807
344,244
74, 657

99,553
67,061
375,788
158, 539
77,396
141, 638
893, 613
37,800
150,665
688, 227
104, 352
967,732
383, 573
227, 849
332,323
143, 305
211,204
46, 982
126, 305
745,030
562, 553

s
W
H

o
F
F

o
d

fcO

TABLE N O . 39.--National banks in charge of receivers, year ended October 31, 1927, 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 the
United States to redeem circulation, and total deposits at date of suspension—Continued
Organization
Name and location of bank

Cavalier County National Bank, Langdon,
N. Dak____
American National Bank, Three Forks, Mont
Lehigh National Bank, Lehigh, Okla_
City National Bank, Coalgate, Okla
First National Bank, Grey Eagle, Minn
First National Bank, Fairview, Mont
First National Bank, Carter, Mont
First National Bank, Hemingford, Nebr
Union National Bank, Beloit, Kans
Texas County National Bank, Guymon, Okla
Tucson National Bank, Tucson, Ariz
National Bank of Barriesville, Ohio
Citizens National Bank, Roswell, N . Mex
First National Bank, Lancaster, Minn
First National Bank, Tolley, N. Dak
Citizens National Bank, Crosby, N. Dak. .
First National Bank, Turtle Lake, N. Dak...
First National Bank. Springfield, S. Dak
Farmers National Bank, Tishomingo, Okla.
First National Bank, Manville, Wyo
First National Bank, Woodworth, N . D a k . . .
First National Bank, Poplar, Mont. _
First National Bank, Lansford, N . Dak
First National Bank, Forsyth, Mont
_
Condon National Bank, Condon, Oreg.
First National Bank, Moore, Mont
Miners National Bank, Henryetta, Okla
Merchants National Bank, Mandan, N . Dak
First National Bank, Webster, S. Dak
First National Bank, Dodson, Mont
Sioux Falls National Bank, Sioux Falls, S.
Dak__
._.
:
First National Bank, Sentinel Butte, N. Dak
First National Bank, Beach, N. Dak
First National Bank, Bisbee, N . Dak.
_.
National Bank of Carlsbad, N . Mex




Charter
No.

Date

Capital

Total dividends paid
during existence as a
national
banking
association

9075
10996
5755
11676
8729
12015
10995
10242
6701
12179
11159
6621
6777
11356
7810
10519
8821
8942
10431
11352
11353
10885
8187
7320
8261
8539
10349
10604
6502
11086

Jan.
Apr.
Feb.
Mar.
May
Aug.
Apr.
July
Mar.
Mar.
Feb.
Jan.
Apr.
May
May
Apr.
June
Oct.
July
May
Apr.
July
Mar.
June
Mar.
Jan.
Feb.
Aug.
Nov.
Aug.

28,1908
30,1917
14,1901
10,1920
28,1907
26,1921
25,1917
27,1912
24,1903
21,1922
21,1918
29,1903
20,1903
14,1919
17,1905
14,1914
8,1907
2,1907
23,1913
1,1919
26,1919
28,1916
16,1906
10,1904
26,1906
7,1907
20,1913
24,1914
19,1902
23,1917

$25,000
40,000
25,000
50,000
25,000
40,000
25,000
25,000
25,000
25,000
100,000
100,000
50,000
25,000
25,000
25,000
25,000
25,000
30,000
25,000
25,000
25,000
25,000
50,000
50,000
50,000
25,000
50,000
25,000
25,000

$52,000.00
4,000. 00
99,250.00

2823
10706
9484
6733
6884

Nov.
Feb.
May
Apr.
July

14,1882
10,1915
26,1909
1,1903
8,1903

50,000
25,000
25, 000
25,000
30,000

240,500.00
10,000.00
52, 500.00
57,750.00
142,900. 00

38,650.00
18,300. 00
149, 875.00
5,000.00
133,000. 00
373, 500.00
5,000.00
66,250. 00
27, 500. 00
30,125.00
22,105. 00
14,750.00
1, 250. 00
3, 750. 00
63,000.00
136,500. 00
12, 500. 00
22,750.00
42,250. 00
5,000.00
32,500.00

to

Failures

Capital

$25,000
25, 000
35,000
50,000
25,000
40, 000
25, 000
25,000
50,000
25,000
100,000
100,000
200,000
25,000
25,000
25,000
25, 000
25, 000
25,000
25,000
25,000
25,000
25,000
75, 000
50, 000
25,000
50,000
50,000
25,000
25,000

Receiver
appointed

Apparent
cause
of
failure

20,1923
21,1923
26,1923
2,1924
21,1924

150,000 Jan. 24,1924
do
25, 000
do
50,000
25, 000 Jan. 28,1924
100,000 Feb. 6,1924

C

A
A
A
C
B
C
B
C
AC
C
C
C
c
c
c
c
c
c
A
c
c
c
A
c
c
AC
C
C
C
C

O
O

$23,200.00

11,050.00

.—.do

Dec.
Dec.
Dec.
Jan.
Jan.

Total
Circulation
outstanding deposits at
date of susat date of
pension
failure

$22, 900.00

Oct. 29,1923
Oct. 29,1913
Nov. 8,1923
.do.
.do,
Nov. 9,1923
Nov. 10,1923
Nov. 13,1923
.do.
Nov. 14,1923
do
Nov. 16,1923
Nov. 19,1923
Nov. 21,1923
do...
do
Nov. 28,1923
Dec. 6,1923
Dec. 11,1923
.do.
Dec. 17,1923
do
Dec. 18,1923
do

Lawful
money
deposited

"l2,"256."66"

24,000. 00
6,200. 00
25, 000.00
5,950. 00
49, 300. 00

6, 200. 00
25,000.00
5,950.00
49, 300. 00

67,300.00
98,800.00
188,200. 00
24, 700. 00
5,950.00

67,300.00
100,000.00
188,200. 00
24,700. 00
6,250.00

9,700. 00
17,750. 00
24,400. 00
24,500.00

9, 700.00
17, 750. 00
24,400.00
25,000.00

6, 500. 00
33, 700.00
11,800.00
24,100.00
24, 600. 00
25,000.00
24,700.00

6, 500.00
33,700.00
11,800.00
24,500.00
25,000.00
25,000.00
24,700.00

124, 405
352,127
121,155
144,127
434,161
315,054
224, 512
72,899

74,250.00

74,250.00

24,300.00
22, 800. 00
11,800. 00

25,000.00
23,300.00
11,800. 00

1, 514,456
102,160
389,152
216,114
446, 659

$353, 645
63,477
159,610
158,720
90,443
146,213
203, 317
545,591
173, 519
588,287
877,090
497,195
179,618
87,434
146, 380
134, 961
150,326
132,277
64, 463
47, 881

O
O

g
a

Dakota National Bank, Dickinson, N. Dak..
First National Bank, Lusk, Wyo
First National Bank, St. John, Wash
First National Bank, Warroad, Minn
.....
First National Bank, Brookings, S. Dak
First National Bank, Ronan, Mont...
First National Bank, Harrison, Nebr
First National Bank, Clarkston, Wash.
First National Bank, Carthage, S. Dak
First National Bank, Onida, S. Dak
Commercial National Bank, Miles City,
Mont
Nowata National Bank, Nowata, Okla
First National Bank, Castlewood, S. Dak
First National Bank of Clovis, N. Mex
First National Bank, Charlo, Mont
First National Bank, Sidney, Mont
Stockmens National Bank, Fort Benton,
Mont__.__
First National Bank, Fort Sunmer, N. Mex..
Wells National Bank, Wells, Minn.
First National Bank, Gering, Nebr
Western National Bank, Mitchell, S. Dak___.
First National Bank, Coalgate, Okla
First National Bank, Mclntosh, S. Dak
First National Bank, Clayton, N. Mex
First National Bank in Deming, N. Mex
First National Bank, St. Anthony, Idaho
First 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, Wyo.
First National Bank, Poison, Mont
Merchants National Bank, Crookston, Minn.
First National Bank, Bristow, Nebr
First National Bank, Lake Preston, S. Dak...
First National Bank, Plentywood, Mont.
First National Bank, Sterling, Colo
First National Bank, Rocky Ford, Colo.
First National Bank of Fergus County, Lewistown, Mont
First National Bank, Marysville, Kans
First National Bank, Alexander, N. Dak
First National Bank, Pilger, Nebr
First National Bank, Wilsall, Mont
National Bank of Commerce, Shawnee, Okla.
Citizens National Bank, Hankinson, N. Dak.
City National Bank, El Paso, Tex
First National Bank, Carlsbad, N. Mex
First National Bank, Baker, Mont
Farmers National Bank, Burlington, Kans...




50,000
50, 000
40, 000
25,000
100,000
25,000
50,000
50,000
25,000
25, 000

Feb. 7,1924
__.do
do
Feb.
9,1924
....do...
do...
Feb. 12,1924
do
.....do..
do..

277, 000. 00
112,000.00
42, 500.00
50,100. 00
1, 500. 00
103,250. 00

250, 000
25,000
25,000
100,000
25,000
50,000

Feb. 15,1924
Feb. 19,1924
...__do
Feb. 20,1924
do
Feb. 26,1924

100,000
25,000
30, 000
50, 000
50, 000
25, 000
25,000
25,000
25,000
25,000
50,000

802,000.00
45, 500.00
75,000. 00
59,750. 00
126,221.00
175,850.00
32, 076.84
150, 500. 00
55, 400. 00
207, 625.00
166, 350.00

200, 000
25,000
75, 000
25, 000
100, 000
100,000
25,000
75,000
40, 000
50,000
65, 000

...._do_
do
...-do
do...
Feb. 27,1924
do...
Mar. 1,1924
do
Mar. 4,1924
do
Mar. 14,1924

23,400.00

60, 000
25, 000
25,000
35, 000
25,000
75, 000
40,000
25, 000
50, 000
100,000
60,000

Mar. 15,1924
Mar. 18,1924
Mar. 19,1924
....do
Mar. 22,1924
Mar. 24,1924
do
Mar. 28,1924
Mar. 31,1924
Apr. 5,1924
do

7663 Mar. 4,1905
11390 June 23.1919
11172 Mar. 11,1918
11815 Aug. 4,1920
3087 Nov. 15,1883
Aug. 31,1910
June 28,1907
6742 Mar. 16,1903
10833 Mar. 20,1916
11585 Jan. 17.1920

50,000
50,000
40,000
25,000
50,000
25,000
50,000
25,000
25,000
25, 000

5015 Aug. 15,1895
6367 July 23,1902
6000 Oct. 2,1901
8784 June 14,1907
11165 Feb. 26,1918
9904 Dec. 23,1907

80,000
25,000
25,000
35,000
25,000
25,000

4194 Dec. 24,1889
8617 Feb. 28.1907
6788 Apr. 6,1903
8062 Dec. 28,1905
7455 Sept. 12,1904
5647 Dec. 8,1900
9283 Oct. 16.1908
5713 Dec. 29,1900
6974 Aug. 5,1S03
5764 Dec. 31,1900
2819 May 19,1882
10340
11, 346
11231
11309
9449
3262
9448
10758
10438
5624
7082

Feb.
Apr.
Aug.
Feb.
Mar.
Oct.
June
July
May
Oct.
Oct.

8,1913
14,1919
19,1918
3, 1919
26.1909
25,1884
5,1909
24,1915
12,1913
29,1900
23,1903

60,000
25, 000
25,000
35, 000
25,000
75,000
25,000
25,000
25,000
25,000
50, 000

7274
2791
11297
5937
11335
12441
8084
7514
5487

May
Aug.
Jan.
Aug.
Apr.
Aug.
Jan.
Oct.
May
Aug.
Sept.

9,1904
25,1882
22,1919
2,1901
11,1919
18,1923
18,1906
14,1904
19,1900
19,1913
10,1903

100, 000
50, 000
25,000
25, 000
25, 000
100,000
30,000
100,000
25, 000
25,000
25, 000

10443
6955

68,000.00
16,000.00
270, 500. 00
22,250.00
109,000.00
38, 500.00
23, 500. 00

8, 750. 00
26,250. 00
155, 250. 00
53, 625. 00
22, 500. 00
22, 500. 00
342,986. 05
78, 800. 00
485, 000. 00
221, 625. 00
1,000. 00
77, 750. 00
31, 900. 00
471,000.00
430, 000. 00
7, 500. 00
81, 750. 00

300, 000 Apr. 12,1924
75,000 Apr. 15,1924
25,000
do.
50,000 Apr. 22,1924
25, 000
do
100, 000 Apr. 28,1924
30,000 Apr. 30,1924
500,000 May 8,1924
100, 000 May 14,1924
25, 000 May 20,1924
55, 000 May 21,1924

C
c
A
A
A
C
c
c
A
A
C
C
A
C
C
c
r
c
c
A
C
c
c
c
c
c
c
A
A
C
C
C
A
C
A
C
C
A
AC
A
C
c
c
B
C
C
A
C
C

47,100.00
48, 500. 00

47,100.00
48, 500.00

98, 500. 00
5,950.00
15, 000. 00
50, 000.00
25,000. 00
24, 700. 00

99,200.00
5,950.00
15,000.00
50,000.00
25,000.00
25, 000.00

98, 500. 00
16, 797. 50
24, 600. 00
55, 800.00

98, 500. 00
16, 797. 50
24,600.00
62, 500.00

176,986
82,343
98, 542
159,329
623,164
102,643
353,806
188,453
228,933
112,045

39, 000. 00

39,000. 00

1,588, 243
459,448
164,542
64,864
46,276
395, 764

190,795.00
5, 850.00
74, 300. 00
11,500.00
93, 400.00
27, 300. 00
23, 300. 00
50,000.00
21, 995. 00
47, 600.00
29,000. 00

191,895.00
5,850.00
75,000.00
11, 500.00
93, 400.00
27, 300.00
23, 700.00
50,000.00
25,000.00
48, 600.00
30, 000.00

467,119
79,155
745,030
265, 790
289, 727
493,803
103, 496
197, 525
307, 368
236, 777
1, 099,420

59, 400. 00

60,000.00

24, 700. 00
74, 200. 00
25, 000
24, 200.00
6, 250. 00
98,300
14,100

24, 700. 00
75, 000. 00
25, 000. 00
24, 200. 00
6, 250.00
100, 000.00
14,100. 00

223, 363
50,234
54,763
67,468
114, 786
1.17jO, 960
138,960
275,947
243,877
712, 005
239,527

124,500.00
73, 500
24, 400
48, 600

124, 500.00
74, 200.00
24,400. 00
48,600.00

100, 000
30, 000

100, 000.00
30, 000. 00

24, 597. 50
21, 900
49,300

24,597. 50
21,900.00
49,300.00

H

2,866,963
591,816
202. 272
202,998
23, 019
936,087
206,864
3,384,059
361,326
150,340
316,452

n
o

o

to
CO

TABLE N O . 39.—National banks in charge of receivers, year ended October 31, 1927, 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 the
United States to redeem circulation, and total deposits at date of suspension—Continued
Organization
Name and location of bank

813
814
815
816
817
818
819
820
822
823
824
827
829
830
831
832
833
835
836
837
838
839
840
841
842
843
845
846
847
850
851
852
853
855
856

Drovers National Bank, East St. Louis, Hl___
First National Bank, Schuyler, Nebr
First National Bank, Morristown, S. Dak
City National Bank of Huron, Huron, S. Dak.
First National Bank, Newcastle, Wyo
Citizens National Bank, Julesburg, Colo
First National Bank, Basin, Wyo
First National Bank, Lidgerwood, N . Dak_._
Citizens National Bank, Worthington, Minn.
First National Bank, Poteau, Okla
National Bank of Commerce of Rochester,
N. Y
Weiser National Bank, Weiser, Idaho
Citizens National Bank, Ness City, Kans
First National Bank, Cheyenne, Wyo
___
First National Bank, Lambert, Mont
First National Bank, Bridgewater, S. Dak___
Citizens National Bank, Cheyenne, Wyo
First National Bank, Harrington, Wash
First National Bank, Minnesota Lake, MinnFirst National Bank, Rexburg, Idaho
First National Bank, Ririe, Idaho.
First National Bank, Putnam, Conn
State National Bank, Carlsbad, N . Mex
Northwestern National Bank of Livingston,
Mont- _
First National Bank in Clovis, N . Mex
First National Bank, Beaver Creek, M i n n . _.
First National Bank, Groom, Tex
First National Bank, Ozark, Ala__
First National Bank, Ulen, Minn__
First National Bank, Alma, Wis.
Merchants National Bank, Grinnell, Iowa
First National Bank, Morgan, Tex
;___
First National Bank, Abbeville, Ala..
__
First National Bank, Algona, Iowa._
First National Bank, Boise City, Okla




Charter
No.

Date

10399
2778
9817
8781
7198
9603
10858
5772
5910
7118

Apr.
Sept.
May
June
Mar.
Sept.
May
Mar.
June
Jan.

30,1913
4,1882
11,1910
3,1907
23,1904
29,1909
15,1916
29,1901
7,1901
14,1904

8111
8139
8081
1800
11176
6925
8089
9210
6204
7133
10920
448
10962

Feb.
Feb.
Feb.
Dec.
Apr.
Aug.
Jan.
July
Apr.
Jan.
Oct.
Mar.
Feb.

11000
12522
9321
11447
7629
7081
8338
2953
6247
5987
3197
11084

Mar.
Feb.
Jan.
Aug.
Feb.
Dec.
May
Apr.
May
Aug.
May
Aug.

Capital

Total dividends paid
during existence as a
national
banking
association

Failures

Capital

Receiver
appointed

$57,000.00
214,750.00
12,500.00
44,750. 00
78,750.00
55,125. 00
17, 500. 00
190,000. 00
50,500.00
38, 750.00

$200,000
50,000
25,000

May 22,1924
May 24,1924
do.

25,000
25, 000
35, 000
50, 000
25, 000
25, 000

June 12,1924
do
June 14,1924
June 17,1924
June 19,1924
do..

1,1906
19,1906
3,1906
29,1870
20,1918
3,1903
15,1906
10,1908
5,1902
19,1904
9,1916
23,1864
8,1917

500, 000 1,222,500.00
50,000
118, 584. 67
30,000
70,950.00
100,000
949,000.00
25,000
25,000
86,750. 00
100,000
79,000.00
50,000
46,500. 00
25, 000
71,500.00
50,000
120,500.00
25, 000
6, 750. 00
100,000
814,000.00
75,000
22,500.00

1, 500,000
75,000
45,000
200,000
25,000
25,000
100,000
50,000
25,000
50,000
25,000
150,000
75,000

June 21,1924
June 23,1924
J u l y 3,1924
July 9,1924
July 16,1924
July 18,1924
July 21,1924
Aug. 6,1924
do
Aug. 11,1924
do
Aug. 13,1924
Aug. 25,1924

27,1917
28,1924
4,1909
16,1919
13,1905
12,1903
16,1906
28,1883
3,1902
17,1901
22,1884
30,1917

100,000
50,000
25,000
25,000
25,000
25, 000
25,000
50.000
25,000
27,500
50,000
26,000

$200,000
50,000
25,000
50,000
25,000
25,000
25,000
50,000
25,000
25,000

8,000.00
36,500.00
85,737.22
42,500.00
52, 500.00
422,500.00
40,750. 00
153, 600. 00
142,750.00
6,000.00

100,000
50,000
30,000
25,000
35,000
25,000
25,000
100,000
25,000
100,000
50,000
26,000

Aug.
Sept.
Sept.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.

30,1924
4,1924
20,1924
6,1924
23,1924
28,1924
7,1924
12,1924
13,1924
14,1924
24,1924
25,1924

Apparent
cause
of
failure
C
C
A
C
C

c
c
c

A

c

A
C
C
C
C
C
C
C
B
C
C
A
C
C
A
C
AC
A
A
A
C
G
C
A
A

Circulation
Total
Lawful
outstanding deposits at
money
at date of
date of susdeposited
failure
pension

$47,200.00
25,000.00
39,000. 00
24, 300. 00
24, 000. 00
33, 800. 00
49, 300. 00
18,000. 00
22, 700.00

$47, 200.00
25,000.00

$433,685
524,922
98,667

24,300. 00
24, 600. 00
35, 000. 00
50,000. 00
18,000. 00
22, 700. 00

442, 668
164, 286
174,795
611,146
421,059
238, 357

459, 897. 50
64,100.00

459,897. 50
65,000.00

198,498
574,356

196, 600.00

200,000.00

6, 200. 00
97, 395. 00
19, 200. 00
25,000. 00
50,000.00
16, 250.00
50,000.00

6, 500. 00
99,995.00
19, 200. 00
25,000. 00
50,000. 00
16, 250.00
50,000. 00

4,498,121
63,973
228, 891
1, 214,862
198,499
324,105
215, 772
72,350
1,478,076

25,000.00

25,000.00

32,400.00
24,700. 00
24,995. 00
100,000. 00
25, 000. 00
98, 500. 00
49,600. 00
10,000.00

32, 800. 00
24, 700.00
24.995. 00
100,000. 00
25,000. 00

3
3
3

49, 600.00
10,000.00

159, 538
168, 795
114,075
16,974
158, 618
197,067
203, 589
998, 975
51,912
145,412
656,090
136,521

O
O

j

o

1

First National Bank, Allendale, S. C
First National Bank, Barnwell, S. C_
First National Bank, Center, Tex
Farmers National Bank, Dodge Center,
Minn._
«
First National Bank, Torrington, Wyo
Parkersburg National Bank, Parkersburg, P a .
First National Bank, Buffalo, Okla.__
First National Bank, Oldham, S. Dak__
First National Bank, Spring Hope, N . C
Stockmans National Bank, Columbus, Mont_
First National Bank, Alexandria, Minn
First National Bank, Townsend, Mont
First National Bank, Rigby, Idaho
Peoples National Bank, Hot Springs, S. Dak__
First National Bank, Sylvester, Ga
First National Bank, Salem, S. Dak
Jefferson County National Bank, Rigby,
Idaho.
Neoga National Bank, Neoga, 111
__.
First National Bank, Mohall, N . Dak
.__
First National Bank, Excelsior Springs, M o . .
Logan County National Bank, Sterling, Colo__
First National Bank, Buena Vista, Ga
First National Bank, Hampton, Ga._
Perry National B ank, Perry, Iowa
Farmers National Bank, Hempstead, Tex
First National Bank, Crystal, N . Dak
National Bank of Abbeville, S. C__
.
Commercial National Bank, Charleston, S.
First National Bank, Quincy, Fla
National Bank of Commerce, Pierre, S. Dak___
Black Hawk National Bank, Waterloo, Iowa._
Lebanon National Bank, Lebanon, Tenn
First National Bank, Shelley, Idaho
First National Bank, Brinsmade, N . Dak
First National Bank, Atwater, Minn
First National Bank, Renville, Minn
First National Bank, Idabel, Okla
First National Bank, Pleasantville, Iowa
First National Bank, Cavalier, N. Dak
First National Bank, Stevensville, Mont
First National Bank, Wapanucka, Okla
First National Bank, Matoaka, W. Va
City National Bank, Clarksville, Tex
First National Bank, Montpelier, Idaho
First National Bank, Buhl, Idaho.__
_
First National Bank, Lemmon, S. Dak
Commercial National Bank, Greenville, Tex_ _
Farmers National Bank, Chandler, Okla
First National Bank, Bamberg, S. C
First National Bank, Bandon, Oreg




11111 Nov. 30,1917
11287 Jan. 9,1919
5971 Sept. 10,1901

50,000
50,000
30,000

20,000.00
7,000.00
31,000.00

Feb.
Oct.
Feb.
Sept.
Aug.
May
July
June
Jan.
June
May
Mar.
July
June

4,1903
6,1908
27,1880
2,1907
30,1912
6,1919
12,1918
9,1883
31,1911
13,1919
23,1908
11,1902
5,1901
9,1919

30,000
25,000
50,000
25, 000
25,000
50, 000
50, 000
60, 000
50,000
30,000
25,000
25,000
25,000
50,000

43,500. 00
90, 000. 00
171,865. 00
40, 250. 00
31, 750. 00
9,000. 00

7841 July 11,1905
7008 Sept. 17,1903
7741 May 5,1905
7973 Oct. 11,1905
7963
Oct. 12,1905
10089 July 13,1911
10130 Jan. 2,1912
4905 Apr. 15,1893
7918 Sept. 12.1905
3421 Oct. 16,1885
10543 May 5.1914
7253 May 4,1904
4279 Feb. 13,1890
6854 Apr. 17.1903
8714 Apr. 13.1907
11434 July 15.1919
8502 Dec. 11.1906
10570 June 15,1914
6583 Dec. 19,1902
8486 Dec. 10,1906
5564 Aug. 2,1900
10116 Nov. 24,1911
10709 Feb. 4.1915
5950 Aug. 8,1901
11264 Nov. 7,1918
10643 Oct. 8,1914
7381 Aug. 9,1904
11065 Aug. 10,1917
9269 Oct. 16.1908
7510 Nov. 24.1904
12060 Nov. 25,1921
11704 Apr. 19.1920
9718 Feb. 25,1910

25,000
25,000
25,000
50,000
25,000
30,000
50,000
50,000
25,000
50,000
200,000
*0,000
75,000
100,000
30,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
50,000
25,000
100,000
25,000
30,000
25,000

2464
8896
10256
11431
11220
2995
9982
11385
9166
6180
5898
11458

264,600. 00
26,000.00
4,800. 00
27,916. 00
49,000. 00
114,000.00
12,500.00
86,250. 00
17,000.00
147,000. 00
70,100.00
27,200.00
54,250.00
133,000. 00
36,300.00
209,500. 00
140,000.00
127,000. 00
139,048.00
145,600. 00
110,300.00
38,000.00
31,000.00
88,000.00
99,000.00
23,750.00
29,250. 00
10, 750.00
82,250.00
16,250.00
95,000. 00
75,250.00
25,000.00
35, 750.00
158,000.00
7,500.00
12,750.00

50,000 Dec. 3,1924
-do
50,000
do .
_
50, 000
30,000
50, 000
50,000
25,000
25,000
50,000
50,000
60,000
50,000
80,000
25,000
50,000
25, 000
50,000

Dec. 9,1924
Dec. 16,1924
Dec. 26,1924
Dec. 27,1924
Jan. 3,1925
Jan. 7,1925
do

25,000
25,000
25,000
150,000
50,000
50,000
75,000
50,000
25,000
75,000
200,000
100,000
100,000
200,000
80,000
25,000
25,000
25,000
25,000
80,000
25,000
25,000
25,000
25,000
50,000
200, 000
50,000
100,000
50,000
150,000
25,000
45,000
25,000

Jan. 21,1925
Jan. 22,1925
Jan. 24,1925
Jan. 26,1925
do
Jan. 27,1925
Feb. 5,1925
Feb. 7,1925
do__
do__
do
Feb. 11,1925
do
Feb. 13,1925
do

Jan. 8,1925
do
Jan. 12,1925
Jan. 15,1925
do
Jan. 16,1925
Jan. 17,1925

do
__ do_
Feb. 14,1925
do_
Feb. 18,1925
Feb. 21,1925
do
Mar. 2,1925
do
Mar. 3,1925
Mar. 9,1925
Mar. 13,1925
Mar. 26,1925
Apr. 2,1925
Apr. 6,1925
Apr. 10,1925
doApr. 13,1925

AC
AC
B
A
C
AB
A
C
A
C
A
C
C
C
C
A

9,600. 00
48,800.00
48,900. 00
29, 500. 00
6,100. 00
42, 600. 00
9, 700. 00
25, 000. 00

9,600. 00
48,800.00
48,900. 00

185, 016
96,628
245, 341

29, 500.00
6,100.00
42, 600. 00
9,700.00
25,000. 00

59,400. 00
12, 500. 00

59,400.00
12, 500.00

5, 950. 00
29, 300. 00
24, 500. 00

5,950. 00
29, 300. 00
24, 500.00

611, 756
254, 693
329, 404
144, 088
250, 588
264, 867
137, 464
843, 235
80, 721
466, 517
156,143
53, 269
158, 184

A
C
B
C
C
C
A
A
C
C

24,700.00
24, 700. 00
48,400.00
20,000.00
72,300. 00
49,197. 50
24,600. 00
16,850. 00

24,700.00
24, 700.00
25,000.00
100,000.00
48,400.00
20,000.00
72,300.00
49,197. 50
24,600. 00
16,850.00

55,000. 00
189,800.00
78, 600.00
19, 600.00
18,500. 00
10,000. 00
24,600. 00

79,500. 00
.189,800. 00
78,600.00
19,600.00
24, 600.00
10,000.00
24,600.00

24, 700.00

25,000. 00

24,700.00
25,000.00
10,000.00
5,550.00
50,000.00

49,400. 00
25,000.00
149, 995. 00

11,800.00
49,400. 00
25,000.00
149,995 00

15,000.00

15,000.00

166,666. bb

c
A
A
C

c
c
c

BC
C
A
A
C
C

c
B
C
C

c
c
c

AC
AC
A

10,000.00

123, 243
90,934
212,086
508,452
81,597
33,214
645, 627
177, 720
256, 939
413, 542
1,003,982
348, 671
683,098
84, 724
118, 712
488,436
400, 700
264, 653
213,392
368, 224
76,421
161,142
571,934
108, 596
335,821
237,493
418,423
638,350
319,134
54,107
181,264

hi

O

3
O
O

o

i

S
o

TABLE N O . 39.—National banks in charge of receivers, year ended October 31, 1927, capital at dale 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 the
United States to redeem circulation, and total deposits at date of suspension—Continued

Organization
Name and location of bank

Georgia National Bank, Athens, Ga
Osceola National Bank, Osceola, Iowa
First National Bank, Wimbledon, N. Dak....
First National Bank, Hedrick, Iowa
First National Bank, Jasper, Minn
First National Bank, Las Vegas, East Las
Vegas, N. Mex
_
First National Bank, Conyers, Ga._.
Hugo National Bank, Hugo, Okla
First National Bank, Carnegie, Pa
Burgettstown National Bank, Burgettstown,
Pa
First National Bank, Selma, N. C
_
First National Bank, Madison, S. Dak
Farmers National Bank, Louisburg, N. C
First National Bank, Florence, S. C
First National Bank, Clear Lake, S. Dak
First National Bank, Crandon, Wis
„
City National Bank, Hugo, Okla
First National Bank, Springer, N. Mex
Merchants National Bank, Detroit Lakes,
Minn
First National Bank, St. Cloud, Minn
First National Bank, Simla, Colo
First National Bank, Abercrombie, N. Dak. _ _
First National Bank, Wausa, Nebr__
First National Bank, Redwood Falls, Minn...
First National Bank, Lumberton, N. C
First National Bank, Walters, Okla
First National Bank, Lake Park, Minn
First National Bank, Devol, Okla
First National Bank, Dell Rapids, S. Dak
Globe National Bank, Denver, Colo..
First National Bank, Warren, Minn.
_.
First National Bank, Winifred, Mont
:_
First National Bank, Hallock, Minn
First National Bank, Buffalo, Minn




Charter
No.

Date

6525
6033
6712
5540
6523

Oct. 14,1902
Oct. 8,1901
Feb. 7,1903
Aug. 11,1900
Oct. 7,1902

Capital

Total dividends paid
during existence as a
national
banking
association

Capital

Receiver
appointed

Apparent
cause
of
failure

$716,000.00
15,000.00
39,500.00
51,750.00
94,600.00

$400,000
25,000
25,000
25,000
30,000
200,000
75,000
200,000
100,000

M a y 4,1925
M a y 12,1925
do
do

c
AC
C
C
A

100,000
30,000
50,000
25,000
150,000
25,000
50,000
100,000
50,000

M a y 14,1925
M a y 16,1925
M a y 21,1925
M a y 22,1925
do
M a y 25,1925
M a y 29,1925
June 5,1925
June 15,1925

A
C
AC
A
A
C
B
C
C

60,000
250,000
25,000
25,000
75,000
70,000
50,000
50,000
25,000
25,000
60,000
200,000
50,000
25,000
60,000
50,000

June
June
June
June
July
July
Aug.
Aug.
Aug.
Sept.
Sept.
Oct.
Oct.
Oct.
Oct.
Oct.

22,1925
24,1925
25,1925
30,1925
9,1925
29,1925
4,1925
6,1925
24,1925
17,1925
26,1925
1,1925
10,1925
15,1925
16,1925
17,1925

Lawful
money
deposited

$200,000.00
25,000.00

25,1879
3,1918
11,1905
16,1892

50,000
75,000
50,000
50,000

506,500.00

2408
10739
3149
10260
9747
6357
9387
12136
11565

Jan.
May
Mar.
Aug.
Mar.
June
Mar.
Feb.
Oct.

25,1879
7,1915
29,1884
1,1912
23,1910
28,1902
16,1909
10,1922
18,1919

50,000
30,000
50,000
50,000
100,000
25,000
25,000
100,000
50,000

444,500. 00
11,400.00
216,355. 00
11,000.00
167,000.00
65,000.00
49,125.00

8122 Feb. 9,1906
2790 Sept. 25,1882
11354 M a y 10,1919
8419 Aug. 25,1906
9994 Mar. 27,1911
5826 Mar. 11,1901
7398 July 21,1904
6612 Jan. 10,1903
7143 Feb. 10,1904
11535 Nov. 4,1919
3508 Apr. 21,1886
11623 Feb. 5,1920
5866 M a y 18,1901
11006 M a y 17,1917
6934 Aug. 5,1903
11023 June 7,1917

50,000
50,000
25,000
25,000
50,000
25,000
25,000
25,000
25,000
25,000
50,000
200.000
25,000
25,000
25,000
25,000

110,500.00
401,000.00

145,100.00
466,750.00

9, 500. 00

11, 750.00
87,500.00
94,550.00
72,250. 00
62,250. 00
33,500.00
198, 775.00
66,000.00
81,250.00
8,000.00
84,450.00
14,000.00

Apr.
Apr.
Apr.
Apr.
May

17,1925
22,1925
23,1925
24,1925
1,1925

C
A
C
C

c
A
A
C
A
C
C
AB
C
C
c
A

Circulation
outstanding
at date of
failure

Total
deposits at
date of suspension

19,800.00
200,000.00
95,000.00
98,400.00

124,000.00
15,000.00
45, 200.00

5,000.00
46,600.00

$200,000.00
25,000.00
25,000.00
19,800. 00
29,500.00

$1,200,239
129,258
161, 727
147,483

200,000.00
27, 700.00
19,800.00
95,000.00
98,400.00
8,800.00
30,900. 00
23,200.00
124,000.00
25,000.00
45,200.00

1,698,546
181,216
399,861
76,255
1,137, 989
384,311
350,144
235,854
150,655
491,438
1,682,525
67,344
224,370
511,612
377,128
392,492
159,040
309,344
29,765
498,219
4,020,485
382,775
62,483
350,056
668, 508

24,100.00
50,000.00
24, 400.00
46,600. 00
25,000.00

9,600.00
59,500.00

O

s

828,256
133,181
968,533
1,448,397

56, 700.00

C
A
A
C

Aug.
Sept.
Apr.
May

to

Failures

$100,000
25,000
25,000
25,000
25,000

2436
11255
7747
4762

to

~59~5O6.~66"
24,600.00
24,600.00
34,600.00

o
o

2
4

Manilla National Bank, Manilla, Iowa
_.
Loveland National Bank, Loveland, Colo
Winner National Bank, Winner, S. Dak
Muskogee Security National Bank, Muskogee,
Okla
-._
Corona National Bank, Corona, Calif. _
First National Bank, Forest City, Iowa
Davenport National Bank, Davenport, Wash.
First National Bank, Pasco, Wash
_
First National Bank, Howard, S. Dak—
Gregory National Bank, Gregory, S. Dak
First National Bank, Hardin, Mont. _
First National Bank, Sac City, Iowa
First National Bank, Brooklyn, Iowa_
Warren National Bank, Warren, Minn
First 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
Drovers National Bank, Denver, Colo
First National Bank, Kifle, Colo.
Home National Bank, Cleburne, Tex
First National Bank, Kiverbank, Calif
First National Bank, Malta, Mont
Security National Bank, Mason City, Iowa__
Glasgow National Bank, Glasgow, Mont
National Bank of Luverne, Minn
First National Bank, Greensboro, Ga
Broadway National Bank, Denver, Colo
First National Bank, Tama, Iowa
First National Bank, Waukon, Iowa
First National Bank of Gilmore, Gilmore
City, Iowa
First National Bank, Pocahontas, Iowa
Cando National Bank, Cando, N. Dak
First National Bank, Oroville, Wash
First National Bank, Ada, Minn
National Bank of Wessington Springs, S. Dak_
Farmers National Bank, La Moure, N. Dak_ _
First National Bank, Estherville, Iowa
Stoekmans National Bank, Brush, Colo
Liberty National Bank of South Carolina at
Columbia, S. C
First National Bank, Pagosa Springs, Colo_.First National Bank, Kiefer, Okla
First National Bank, Marion, N. Dak
Spirit Lake National Bank, Spirit Lake, IowaFirst National Bank, Deep River, Iowa
First National Bank, Blue Mound, 111
First National Bank, Intake, Mont




6041 Nov. 12,1901
8116 Feb. 14,1906
12024 Sept. 20,1921

25,000
100,000
60,000

41,875.00
133,000.00

25,000
100,000
60,000

Oct. 20,1925
Oct. 22,1925
Oct. 24,1925

12277
8436
4889
7527
9265
6585
9377
9215
4450
3284
11286
8945
9903
2586

Nov.
Oct.
Feb.
Dec.
Aug.
Nov.
Mar.
July
Oct.
Dec.
Dec.
Oct.
Nov.
Oct.

8,1922
23,1906
20,1892
22,1904
22,1908
29,1902
23,1909
20,1908
6,1890
22,1884
28,1918
28,1907
23,1910
22,1881

100,000
25,000
50,000
100,000
25,000
25,000
50,000
25,000
50,000
50,000
30,000
40,000
25,000
50,000

12,000.00
18,000.00
84,250.00
175,000.00
60,000.00
85,250. 00
77,477.35
70,000.00
208,500. 00
211,750.00
6,400.00
46,000.00
15,500.00
370,000.00

200,000
25,000
75,000
100,000
50,000
50,000
50,000
65,000
50,000
50,000
50,000
50,000
25,000
50,000

N o v . 7,1925
N o v . 10,1925
Nov. 14,1925
Nov. 17,1925
Nov. 21,1925
Nov. 24,1925
Nov. 25,1925
Nov. 27,1925
Dec. 2,1925
Dec. 4,1925
Dec. 5,1925
Dec. 8,1925
Dec. 12,1925
do__

6704
10773
8262
11564
6178
10411
10427
9.738
10428
8655
8977
6967
12250
1880
4921

Feb.
July
Mar.
Dec.
Dec.
June
June
Mar.
July
Feb.
Dec.
Aug.
Aug.
Aug.
Apr.

14,1903
20,1915
26.1906
18,1919
5,1901
7,1913
26,1913
28,1910
16,1913
19.1907
4,1907
1,1903
10,1922
5,1871
22,1893

25,000.00
25,000
25,000
5,250.00
50,000
66,000. 00
200,000 3,750, 000. 00
25,000
92, 750. 00
150,000
54,000. 00
25,000
2,000.00
25,000
65,850. 00
100,000
614, 500. 00
25,000
104, 250. 00
25,000
15,000. 00
25,000
49,000.00
200,000
28,000.00
50,000
213,450.00
50,000
226,500.00

25,000
25,000
50,000
200,000
50,000
100,000
25,000
60,000
100,000
75,000
25,000
50,000
200,000
75,000
100,000

Dec.

6611
12544
7377
8279
5453
12620
9714
4700
8520

Dec.
May
July
June
Apr.
Nov.
Mar.
Jan.
Dec.

2,1902
12,1924
16,1904
2,1906
13,1900
17,1924
1,1910
23,1892
22,1906

25,000
75,000
25,000
50,000
25,000
25,000
50,000
50,000
35,000

25,000
75,000
25,000
50,000
50,000
25,000
50,000
100,000
35, 000

do
Jan. 30,1926
Feb. 6,1926
Feb. 8,1926
Feb. 10,1926
Feb. 23,1926
Feb. 25,1926
Feb. 27,1926
M a r . 1,1926

11871
12239
9161
8032
6705
9530
10928

Feb.
Oct.
July
Apr.
Dec.
Mar.
Aug.
Nov.

10,1910
4,1920
15,1922
30,1908
12,1905
14,1903
19,1909
29,1916

100,000
25,000
25,000
25,000
50,000
25,000
25,000
25,000

500,000
25,000
25,000
25,000
50,000
25, 000
25,000
25,000

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Apr.

27,500.00
74,000.00
42, 500. 00
93, 750. 00
51, 000. 00
291,750. 00
66, 500. 00
166,312.50
62, 000. 00
101,000. 00
28,750.00
21, 750. 00
2,000.00

17,1925
do
23,1925
24,1925
do__
Dec. 28,1925
do
do
Dec. 29,1925
do
Dec. 31,1925
Jan. 9,1926
Jan. 16,1926
Jan. 18,1926
do.
Dec.
Dec.

4,1926
6,1926
13,1926
19,1926
23,1926
25,1926
27,1926
7,1926

AB
C
C
C
A
A
C
O

18,450.00
100,000.00

100,000.00

I 73,997.50

o
c

A

c
o
c
o
c
c

A
C
A
A
C
A
B
C
C
C
C
C
C

12,000. 00

9,600.00
12,100. 00
200, 000. 00
24,500.00
6,495. 66

c
c
c
c
c
c
c

A

c
c
c
c

A
A
A
A
A
B
C

23,100.00
42,800. 00
12, 500. 00
48, 500. 00
25,000. 00
47,700.00
14,700.00
25,000. 00
40, 000. 00
6, 250. 00

12,100. 00
6,495. 00
97,900. 00
50,000.00
6, 050. 00
49,297. 50
93, 200.00
6, 200. 00
24, 300. 00
6, 500. 00
24,400. 00
24, 500. 00

48, 700. 00

48, 700. 00
97, 000. 00
9,800. 00

5, 950. 00
45, 200. 00
24,600. 00
24, 200.00

127, 950
490, 791
71,852
2,122, 111
33, 759
507,347
451, 757
375, 645
360, 599
290, 520
488,546
520, 572
633,005
341,515
168,630
262,155
333,877
134,245
306,880
1,208,552
318,602
115, 739
80,908
135,645
944,632
187,074
523,153
171,465
2,318,247
894,382
739,072
201,056
377,430
301,119
80,756
452, 241
79,917
192, 334
382, 589
261,882
453,008
57,208
167,604
110,573
570,110
84,039
89, 022
15, 381

O

O

r

W
o
d
3

52
CO

TABLE N O . 39.—National banks in charge of receivers, year ended October SI, 1927, 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 the
United States to redeem circulation, and total deposits at date of suspension.—Continued
Organization
Name and location of bank

995
996
997
998
999
1000
1001
1002
1003
1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
1021
1022
1023
1024
1025
1026
1027
1028
1029

First National Bank, Frankfort, S. Dak
Moline National Bank, Moline, Kans
_
First National Bank, Fulton, Mo
First National Bank, Shenandoah, Iowa
First National Bank, Cambridge, Iowa
First National Bank, Oktaha, Okla
First National Bank, Granada, Minn
Citizens National Bank, Wayne, Nebr
First National Bank, Noblesville, Ind
First National Bank, Jonesboro, Ark
First National Bank, Saco, Mont
First National Bank, Hayden, Colo
First National Bank, Barnsdall, Okla
Palm Beach National Bank, Palm Beach, Fla_
First National Bank, Benson, Minn
De Smet National Bank, De Smet, S. Dak ._
First National Bank, Milford, Iowa
First National Bank, Dinuba, Calif.
First National Bank, Glenwood, Minn
Whitbeck National Bank, Chamberlain, S.
Dak
First National Bank, Cumberland, Iowa
Guthrie County National Bank, Panora, IowaFirst National Bank, Royalton, Minn
First National Bank, Pepin, Wis
First National Bank, Woonsocket, S. Dak
Peoples National Bank, Bennettsville, S. C _ _
First National Bank, Eldorado, 111 _
- First National Bank, Adrian, Minn
First National Bank, Colman, S. Dak
First National Bank, Waubay, S. Dak
First National Bank, Akron, Colo
Oakes National Bank, Oakes, N. Dak__
National Farmers Bank, Owatonna, Minn
Anamoose National Bank, Anamoose, N . Dak_
First National Bank, Veblen, S. Dak




Charter
No.

Date

Capital

Total dividends paid
during existence as a
national
banking
association

Failures
Receiver
appointed

Capital

10683
8369
8358
2363
9014
10015
11606
9244
4882
8086
9789
10730
11460
12600
6154
5355
5539
9158
7742

Dec.
Aug.
Aug.
May
Oct.
May
Feb.
Aug.
Mar.
Dec.
May
Apr.
Sept.
Nov.
Feb.
May
Aug.
May
Apr.

26,1914
31,1906
7,1906
5,1877
25,1907
13,1911
5,1920
28,1908
1,1893
20,1905
26,1910
16,1913
17,1919
6,1924
24,1902
1,1900
3,1900
12,1908
11,1905

$25,000
50,000
50,000
50,000
25,000
25,000
25,000
60,000
50,000
100,000
30,000
25,000
25,000
50,000
25,000
25,000
35,000
25,000
50,000

$16,250.00
80,000.00
116,000.00
417,000.00
61,800.00
23,000.00
91,860.00
132,687.50
206,000.00
18,300.00
15,000.00
2,000.00
1,000.00
48,250.00
154,875.00
120,400.00
52,000.00
28,350.00

$25,000
50,000
100,000
50,000
80,000
25,000
25,000
60,000
62,500
100,000
30,000
25,000
25,000
50,000
25,000
50,000
35,000
200,000
35,000

9301
7326
3226
6731
10725
5946
10743
7539
7960
6688
6124
8548
6988
4928
9390
9858

Nov.
June
July
Apr.
Apr.
Aug.
May
Dec.
Oct.
Feb.
Jan.
Feb.
Mar.
May
Mar.
Aug.

14,1908
17,1904
9,1884
9,1903
7,1915
6,1901
21,1915
17,1904
7,1905
20,1903
31,1902
4,1907
21,1903
29,1893
24,1909
16,1910

50,000
25,000
50,000
25,000
25,000
25,000
50,000
25,000
35,000
25,000
25,000
25,000
25,000
80,000
25,000
25,000

111, 500.00
66,750.00
273,900.00
37,500.00
15,500.00
98,050.00
27,400.00
75,250.00
49,000.00
62,400.00
42,500.00
129,250.00
26,000.00
199,200.00
41,750.00
46,975.00

50,000
25,000
50,000
25,000
25,000
50,000
50,000
50,000
35,000
25,000
25,000
40,000
25,000
75,000
25,000
40,000

Apr. 12,1926
_do
Apr. 24,1926
May 13,1926
May 22,1926
May 26,1926
May 27,1926
June 2,1926
June 3,1926
June 4,1926
do_
June 16,1926
June 22,1926
July 2,1926
July 6,1926
do—
July 8,1926
July 9,1926
July 14,1926

-

do
July 22,1926
do
do
July 23,1926
do
July 27,1926
Aug. 6,1926
Aug. 16,1926
Aug. 19,1926
Aug. 20,1926
Aug. 26,1926
Sept. 4,1926
Sept. 10,1926
Sept. 18,1926
do_

Apparent
cause
of
failure
C
C

c
c

Circulation
Lawful
outstanding
money
at date of
deposited
failure

$97,700.00

A

c

A
C
A
C
A
A
A
C
B
C
C
C
A
A
C
C
C
A
C
C
B
C
C
C
C
C
AC
AC
C

60,000.00

9,800.00

$50,000.00
97,700.00
20,000.00
78,700.00
6,250.00
60,000.00
49,000. 00
40,000. 00
8,000.00

23,800. 00
24,000.00
9,800. 00
10, 000. 00
5,950.00
49,100. 00
11, 600. 00
15,000.00
49,100. 00
34,997. 50
24,500. 00
6,250.00
19,800.00
24,500. 00
74, 550. 00
24,400. 00
9, 700. 00

Total
deposits at
date of suspension

$235,288
258,931
277,896
690, 033
391,138
25,182
67, 530
502,030
272,920
419,317
75,935
126,025
294,947
433,771
292,337
351,858
411,089

to

B

1
O

w
o

230,596
162,551
149,410
387,988
334,020
251,640
195,852
209,970
285,868
256,949
262,019
171,508
282,358
216,250
1,446,671
84,022
141,176

H

§
K

Farmers National Bank in Lidgerwood, N.
Dak_.._
._
12743
Farmers & Merchants National Bank, Merced, Calif.
— 10352
12668
National Security Bank, Fairfax, S. C
First National Bank, Lake Norden, S. Dak__ 10714
First National Bank, Fulda, Minn___
_ 6054
First National Bank, Boswell, Okla__
__- 7651
National Bank of Franklin, Franklin, Tenn__ 1834
Farmers & Merchants National Bank, Lake
City, S. C
__._ 10681
City National Bank, Bismarck, N. Dak
9622
American National Bank, Atoka, Okla_
_ 8994
England National Bank, Little Rock, Ark_ _ _ 9037
10424
First National Bank, Broken Bow, Okla
First National Bank, Haworth, Okla_
_. 10500
First National Bank, Clearbrook, Minn
11392
First National Bank, Toledo, Iowa
____ 6432
10830
First National Bank, Gonvick, Minn__
8409
First National Bank, Kingsburg, Calif
10862
First National Bank, Brandon, Minn
9251
First National Bank, Ackerman, Miss
6473
First National Bank, Milbank, S. Dak
5442
First National Bank, Armstrong, Iowa
Citizens National Bank, Spencer, Iowa
_ 6941
2617
State National Bank, Austin, Tex__
10909
First National Bank, Wilder, Idaho___
First National Bank, Detroit Lakes, Minn___ 3426
10238
First National Bank, Terril, Iowa
8997
First National Bank, Steele, N. Dak
Standard National Bank, Washington, D. C _ . 12139
10647
Citizens National Bank, Petty, Tex
Farmers National Bank, Manor, Tex
_ 7146
_
3112
Clarinda National Bank, Clarinda, Iowa
11122
First National Bank, Marked Tree, Ark
4859
First National Bank, St. James, Minn
6312
First National Bank, Leeds, N. Dak
Farmers National Bank, Brookings, S. Dak.. 6462
7126
First National Bank, Alta, Iowa
First National Bank, Elkton, S. Dak
_ 6368
Planters National Bank, Honey Grove, Tex_ 4112
First National Bank, New Hampton, Iowa__ 2588
7727
First National Bank, Hannaford, N. Dak
2247
First National Bank, Malvern, Iowa
9472
First National Bank, Stanley, N. Dak
First National Bank, Haleyville, Ala
11613
National Bank of Oakesdale, Oakesdale, Wash. 9150
10867
Farmers National Bank, Newport, Ark
1914
First National Bank, Plattsmouth, Nebr
8699
First National Bank, Adair, Iowa
First National Bank, University Place, Nebr. 7737
Story City National Bank, Story City, Iowa. _ 10222
Citizens National Bank, Ortonville, Minn... 6747




May 11,1925
Jan.
Mar.
Mar.
Dec.
Feb.
May

25,000 Sept. 21,1926

25,000

4,1913
23,1925
3,1915
14,1901
16,1905
25,1871

100,000
25,000
25,000
25,000
35,000
60,000

Dec. 26,1914
Nov. 12,1909
Dec. 26,1907
Feb. 6,1908
July 3,1913
Mar. 13,1914
June 30,1919
Aug. 19,1902
Feb. 23,1916
Sept. 14,1906
May 31,1916
Aug. 17,1908
Oct. 16,1902
May 1,1900
Aug. 11,1903
Jan. 3,1882
Sept. 23,1916
Dec. 21,1885
July 17,1912
Jan. 7,1908
Mar. 17,1922
Oct. 15,1914
Feb. 6,1904
Dec. 26,1883
Dec. 17,1917
Jan. 30,1893
June 9,1902
Aug. 29,1902
Jan. 21,1904
July 19,1902
Aug. 14,1889
May 3,1880
Apr. 21,1905
Feb. 9,1875
June 15,1909
Feb. 9,1920
Apr. 25,1908
June 6,1916
Dec. 12,1871
Apr. 29,1907
Apr. 17,1905
June 24,1912
Apr. 18,1903

100,000
50,000
25,000
100,000
25,000
25,000
25,000
50,000
25,000
25,000
25,000
25,000
25,000
50,000
50,000
100,000
25,000
50,000
25,000
25,000
200,000
50,000
25,000
50,000
25,000
50,000
25,000
50,000
50,000
25,000
75,000
50,000
25,000
50,000
25,000
25,000
25,000
50,000
50, 000
25,000
25,000
40, 000
25,000

26,000.00
18,250. 00
84,562. 50
75,447.00
592,150.00
82,000.00
23, 500.00
27,125. 00
283,000.00
42,000.00
11,250. 00
5,250.00
225,375. 00
20,850. 00
68,500. 00
21, 500. 00
15, 750. 00
118, 797. 39
89, 500. 00
175,750. 00
610,000.00
1,250. 00
218,000.00
29,250. 00
77,500.00
33,100. 00
87,000.00
206,817.64
14,600. 35
162,000.00
35,000. 00
83, 050. 00
111, 500.00
47,250. 00
272, 250. 00
167,250. 00
64,000.00
272,000. 00
27,000.00
6,000. 00
33,250.00
21,000.00
276,000.00
51,427.38
56,600.00
22,000.00
54,500.00

100,000 Sept. 23,1926
25,000 Oct. 1,1926
35,000 Oct. 5,1926
25,000 Oct. 7,1926
50,000 Oct. 8,1926
100,000 Oct. 18,1926
100,000
50,000
25,000
300,000
25,000
25,000
25,000
85,000
25,000
50,000
25, 000
25,000
50,000
50,000
100,000
100,000
25,000
50,000
25,000
25,000
200,000
37,000
40,000
50,000
50,000
50,000
25,000
50,000
50,000
25,000
100, 000
50,000
25,000
50,000
25,000
25,000
25,000
50,000
50,000
35,000
40,000
40,000
25,000

do__ do
Nov. 1,1926

—.do
.
Nov. 2,1926
do
do
Nov. 3,1926
Nov. 5,1926
Nov. 9,1926
Nov. 11,1926
Nov. 12,1926
Nov. 15,1926
Nov. 17,1926
Nov. 19,1926
Nov. 20,1926
Nov. 22,1926
Nov. 23,1926
do
do__
Nov. 24,1926
Nov. 26,1926
Nov. 29,1926
Nov. 30,1926
. .do
Dec. 1,1926
Dec. 3,1926
do
do
Dec. 6,1926
Dec. 9,1926
Dec. 10,1926
_ do _ _Dec. 15,1926
Dec. 17,1926
Dec. 21,1926
do
do _
Dec. 27,1926
Dec. 29,1926
Jan.
3,1927
Jan.
4,1927

A
B
C
A
C
C
B
C
A
C
D
A
C
C
C
C
A
AC
C
AC
C
AC
C
C
A
B
C
D
C
C
A
C
C
A
C
C
C .
C
AC
C
A
C
A
A
C
AB
AC
A
C
AB

280,454

96,600.00

1,128,135
30,680
236,796
325,328
264, 025
468,950

97,600.00
49,400.00
23,600. 00

719, 644
849,178
88,780

i

5,950.00

97,796
88,516
110, 669
419, 005
165, 807
440,180
135, 748
50, 502
332,973
267,387
466, 656
952,660
114,062
708, 512
279, 722
267,985

o
o

35, 000. 00
24,500.00

49,400.00

83,800. 00
25, 000. 00

98,600

24, 300. 00
83,800. 00
24,400. 00
24, 750. 00
25, 000.00
38,500. 00
49,500. 00
49,295. 00
98,600.00
24,600. 00
25,000. 00

43,200. 00

24, 750. 00
49, 500. 00
48,300.00
50,000.00
24, 700. 00
49,200. 00
48,695. 00
25, 000. 00
18,400. 00
43, 200. 00
24, 600. 00
12, 500.00
6,250.00
25,000. 00
48,600.00
8,750. 00
29, 600. 00
15,400.00

60,141
91,871
599,132
107, 658
469, 278
128,672
986, 711
453, 681
244,641
213,872
143,183
231, 793
196,761
135,382
92,829
265, 200
287,703
198,284
151,441
216,383
265,030

3
O

LE N O .
TABLE No.

39.—National banks in charge of receivers, year ended October SI, 1927, 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 the
United States to redeem circulation, and total deposits at date of suspension—Continued
Organization
N a m e a n d location of b a n k

1880 First National B a n k , Collinsville, Okla
1081 Citizens National B a n k , Royal, Iowa
1082 First National Bank, Carlyle, Mont..
1083 Monticello National Bank, Monticello, I n d . . .
_
1084 First National Bank, Cardwell, M o . .
1085 First National Bank, Nevada, Iowa
1086 First National Bank, Granger, Tex
_
1087 First National Bank, Ren wick, Iowa
L088 First National Bank, Moulton, Iowa
L089 First National Bank, Delano, Calif1090 National Bank of Jerseyville, Jerseyville, 111..
1091 First National Bank, Argyle, Minn._
L092 First National Bank, Boyceville, Wis.
1093 Citizens National Bank, Commerce, Tex
1094 Citizens National Bank, Lone Oak, Tex
1095 First National Bank, Beardsley, Minn
L096 Farmers National Bank, Red Lake Falls,
Minn
1097 First National Bank, Biggsville, HI.
L098 First National Bank, Edgeley, N . Dak
L099 Farmers National Bank of Lidgerwood,
N Dak
L100 First National Bank, Britt, Iowa
1101 Marion County National Bank, Knoxville,
Iowa__
__
_
L102 First National Bank, Montevideo, Minn
L103 Peoples First National Bank, Olivia, M i n n . . .
L104 First National Bank, Lincoln, Ark__
_
L105 First National Bank, Clinton, M i n n . . .
L106 Citizens National Bank, Albert Lea, M i n n . . .
1107 First National Bank, Marengo, Iowa
L108 First National Bank, Allegan, Mich..
1109 First National Bank, Rolette, N . Dak._
L110 Farmers & Merchants National Bank,
Mount Morris, Pa
1111 First National Bank, Rush City, Minn
L112 Central National Bank, Marietta, Ohio




Charter
No.

Date

Capital

Total dividends paid
during existence as a
national
banking
association

Failures

Capital

Receiver
appointed

Apparent
cause
of
failure"

37,000.00

$25,000
35,000
25,000
50,000
50,000
75,000
35,000
25,000
35,000
100,000
50,000
50,000
25,000
50,000
25,000
25,000

5,1927
do__
Jan. 7,1927
do
Jan. 8,1927
Jan. 10,1927
Jan. 12,1927
Jan. 13,1927
Jan. 14,1927
do
Jan. 15,1927
Jan. 18,1927
do__
Jan. 20,1927
do__
Jan. 21,1927

C
C
C
B
C
C
C
C
C
AC
B
C
AB
AC
C
C

25,000
50,000
25,000

16,500.00
230,000.00
170,050.00

25,000
50,000
85,000

Jan. 24,1927
Jan. 31,1927
do

A
C
AC

35,000
50,000

67,250.00
172,250.00

50,000
50,000

Feb. 1,1927
do

50,000
30,000
25,000
25,000
25,000
50,000
50,000
50,000
25,000

399,100.00
77,000.00
40,000.00
8,500.00
70,250.00
110,000.00
277,500.00
272,050.00
18,000.00

60,000
50,000
25,000
25,000
25,000
50,000
65,000
50,000
25,000

Feb. 1,1927
Feb. 5,1927
do
Feb. 9,1927
Feb. 10,1927
Feb. 18,1927
do
do
Feb. 19,1927

C
AC
AC
B
C
AC
C
BA
C

6983 Sept. 22,1903
6954 Aug. 1,1903
5212 May 29,1899

25,000
25,000
100,000

29,000.00
64,500.00
245,000.00

25,000 Feb. 21,1927
50,000 . . . . . d o
300,000 Feb. 24,1927

A
AC
C

20,1911
10,1913
23,1916
10,1902
15,1921
3,1881
11,1902
24,1905
5,1900
1,1908
31,1894
18,1901
8,1917
10,1925
18,1925
7,1904

$25,000
25,000
25,000
25,000
50,000
50,000
35,000
25,000
25,000
25,000
50,000
25,000
25,000
50,000
25,000
25,000

$25,500.00
19, 750.00

9837 July 19,1910
3003 Apr. 10,1883
7914 Aug. 29,1905
8230 Apr. 30,1906
5020 Aug. 13,1895

9965
10395
10934
6172
11919
2555
6361
7988
5319
9195
41)52
5907
11128
12778
12760
7438

1986
6860
9063
11825
7161
6128
2484
1829
7866

Mar.
Apr.
Nov.
Mar.
Jan.
Aug.
July
Nov.
Apr.
July
Mar.
June
Dec.
June
May
July

Apr.
May
Feb.
July
Feb.
Jan.
May
May
July

88,000.00
4,000.00
287,250.00
123,935. 00
15,250.00
111, 100.00
69,500.00
97,500.00
112,500.00
4,750.00

Jan.

Circulation
Total
outstanding deposits at
at date of date of suspension
failure

$6,500.00
23,700.00

C
C

12,1872
25,1903
25,1908
27,1920
13,1904
22,1902
25,1880
11,1871
24,1905

Lawful
money
deposited

$48,600.00

48,600,00

$302,024
177,897
24,886

24,997.50

37,397
273,261
433,459
86,793
162,500
554,394
373,698
131,176
172,278
79,333
79,914
252,056

24,700.00
15,300. 00
48,600.00

123,428
50,835
273,196

44,300.00

708,295

57,095.00
29,495.00
6,250.00
11,600,00
20,000.00
49,397.50
49,600.00
46,900.00
12,500.00

523,373
626,407
296,939
76,455
162,825
887,404
755,896
581,948
153,926

24,500.00
48,400.00
296,700.00

310,148
388,120
1,957,190

73,300.00
8,300.00
6,250.00
33,800.00
96,400.00
24,400.00
24,700.00

5,000.00
15,300. 00

57,095.00

296,700.00

3

o
w

3

American National Bank, Stigler, Okla
,
First National Bank, Belle Plaine, Iowa
First National Bank, Dunbar, Pa
Exchange National Bank, Leon, Iowa
Warren National Bank, Franklin, Ohio
First National Bank, Warsaw, N. C
First National Bank, Hartley, Iowa
First National Bank, Norway, Iowa
United States National Bank, Dinuba, Calif.
First National Bank, Lepanto, Ark
Provident National Bank, W7aco, Tex
First National Bank of Benson, Hollsopple,
Pa_
First National Bank, Sheldon, Iowa
American National Bank, Green City, Mo..,
Geneva National Bank, Geneva, N. Y
First National Bank, Columbia City, Ind
First National Bank, Fairfax, S. C
First National Bank, Lake Worth, Fla
First National Bank, Lake Mills, Iowa
First 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, Minn
Farmers & Merchants National Bank, Cleburne, Tex
City National Bank in Kearney, Nebr
Laurel National Bank, Laurel, Nebr
Farmers & Merchants National Bank, Alcester, S. Dak
First National Bank, Grafton, N. D
First National Bank, Mansfield, Tex
Stockmens National Bank, Nampa, Idaho
First National Bank, Chowchilla, Calif
Merchants National Bank, Greene, Iowa
First National Bank, Kennebec, S. Dak
First National Bank, Medaryville, Ind
First National Bank, Spencer, Iowa
First National Bank, Farmersville, 111
First National Bank, Lamberton, Minn
Peoples National Bank, Waukon, Iowa
First National Bank, East Grand Forks,
Minn_—
__
_
Fayette City National Bank, Fayette City,
Pa._
First National Bank, Webster, Pa
National Bank of Fayetteville, Fayetteville*
N. C
__•_.
First National Bank, Bishop, Calif
Citizens National Bank, Waynesburg, Pa
First National Bank, Corydon, Iowa.. _




7432
2012
7576
5489
8000
11767
4881
7287
9156
11322
4309

Sept.
May
Jan.
June
Oct.
June
Feb.
May
May
Mar.
Mar.

14.1904
31,1872

7935
3848
8570
949
7132
10979
11716
5123
7261
9363

June
Feb.
Feb.
Feb.
Feb.
Apr.
Apr.
Feb.
Apr.
Jan.

12,875.00
16, 500.00
198,450.00
26,500.00
52,000.00
3,500.00
1,320,000.00

Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.
Mar.

25,000
50,000
25,000
200,000
50,000
25,000
30,000
50,000
25,000
25,000

20,625.00
293, 500.00
60,834. 41
980,625.00
171,000.00
8, 500.00
36, 500.00
33,000.00
42,250.00
75,260.00

75,000
150,000
45,000
300,000
100,000
50,000
100,000
50,000
25,000
100,000

Mar. 28,1927
Mar. 29,1927
Mar. 31,1927
do
do
Apr. 1,1927
'Apr. 2,1927
Apr. 8,1927
Apr. 9,1927
Apr. 29,1927

D
AC
C
AC
C
AC

Oct. 13,1925
Oct. 27,1919
Apr. 2,1907

25,000
25,000
25,000

1,250.00
33,097.87

25,000
25,000
25,000

Apr. 30,1927
May 5,1927
May 10,1927

4386
13013
9979

M a y 26,1890
Dec. 3,1926
Mar. 21,1911

100,000
150,000
40,000

346,000.00

100,000
150,000
65,000

10818
2840
7201
11609
10978
6880
10098
8537
3898
10057
7221
10207

Dec.
Nov.
Mar.
Jan.
Mar.
June
Sept.
Jan.
May
Feb.
Apr.
May

30,1915
14,1882
8,1904
22,1920
29,1917
23,1903
20,1911
23,1907

43,750.00
296, 500.00
55,625.00

4.1911
2,1904
1.1912

25,000
50,000
25,000
75,000
25,000
50,000
25,000
25,000
60,000
25,000
25,000
50,000

4638

Sept. 7,1891

50,000

6800

May 16,1903
June 20,1903

5677
10999
4267
10146

Dec. 12,1900
Nov. 21,1916
Jan. 15,1890
Feb. 16,1912

23.1905
8,1888
13,1907
27,1865
2,1904
3,1917
19.1920
21,1898
23,1904
23,1909

12844
11508
8697

12,500.00
369,800.00
61,000.00

1,1927
3,1927
7,1927
9,1927
11,1927
17,1927
22,1927
23,1927
25,1927
do
Mar. 26,1927

C
AC
A
r
B
C
AC

25,000
60,000
50,000
35,000
25,000
50,000
75,000
25,000
50,000
35,000
300,000

25,000
50,000
50,000
35,000
25,000
50,000
50,000
25,000
25,000
35,000
300,000

20.1905
20,1900
12,1905
21,1920
22,1893
23.1904
2,1908
19.1919
31,1890

24,500.00
59,100.00
48,100.00
34, 500.00
23,700.00
45,800.00
49,600.00
25,000.00
24,500.00

r
AC
0

50,000.00

c
A
c
c

276,557
805,991
366,597
327, 595
70,057
187, 738
275,645
170,735
443,221
108,211

50,000.00
24,400.00
99,100.00
43,597. 50

196,240
777, 551
239,124

94,200.00

1,010,867

32,300.00
49,497.50
24,300.00
12,500.00

1,358,878
358,762
205,239
1,264,073

H

C
C
AB

25,000.00
24, 700.00

203,614
121,571
317,100

i

May 11,1927
May 14,1927
do .

O
A
C

98,250.00
90,800.00
40,000.00

491,081
1,868,476
524,225

50,000
50,000
25,000
75,000
25,000
50,000
50,000
25,000
150,000
25,000
50,000
125,000

May 17,1927
May 25,1927
do
May 27,1927
May 28,1927
June 4,1927
June 20,1927
June 24,1927
June 25,1927
June 29,1927
July 6,1927
July 19,1927

C
B
B
AC
AC
A
C
A
AC
C
C
E

123,200.00

529,744

138,000.00

50,000

July 28,1927

A

37,497. 50

481,789

75,000
25,000

161,250.00
43,125.00

75,000
25,000

AB
A

69,400.00
24,100.00

50,000
25,000
50,000
75,000

175, 500.00
126,000.00
1, 565,000. 00
117, 750.00

100,000
50,000
500,000
75,000

do
Aug. 8,1927
Aug. 12,1927
Aug. 15,1927
Aug. 17,1927
Aug. 18,1927

A
C
A
D

275,000.00
72,900.00

29,200.00

2,750.00
82,000. 00
27,000.00
27,000.00
295, 700.00
11, 875. 00
96,250.00

49, 600.00
12, 500,00

24, 700.00
6,100. 00
24,300.00
24,990.00

49,000.00
72,900.00

396,354
866,808
70, 761
891,842
215, 524
232,155
76,692

E

855,375
94,295

2

TABLE N O . 39.—National banks in charge of receivers, year ended October SI, 1927, 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 the
United States to redeem circulation, and total deposits at date of suspension—Continued
Organization
Name and location of bank

1159
1160
1161
1162
1163
1164
1165
1166
1167
1168
1169
1170
1171
1172
1173

Charter
No.

First National Bank, Sheridan, Ind
_ _ 5296
_ _
First National Bank, Spirit Lake, Iowa
4758
First National Bank, In wood, Iowa
7304
First National Bank, Tabor, Iowa
4609
First National Bank, Hawarden, Iowa _ _ _ 4594
Farmers National Bank, Odell, 111
9624
Central National Bank, Kearney, Nebr
6600
City National Bank of Kearney, Nebr
___ 3958
First National Bank, Mallard, Iowa
10562
First National Bank, Bancroft, Iowa
5643
First National Bank in Sallisaw, Okla
7571
First National Bank, Muldrow, Okla
9975
National Bank of La Grange, La Grange, Ind_. 4972
First National Bank, Swea City, Iowa
5637
First National Bank, Milburn, Okla
9920

Date

Apr.
June
May
July
June
Nov.
Jan.
Dec.
May
Nov.
Jan.
Mar.
July
Oct.
Jan.

2,1900
7,1892
23,1904
1,1891
15,1891
29,1909
26,1903
26,1888
19,1914
10,1900
3,1905
25,1911
12,1894
24,1900
3,1911

Failures

Total dividends paid

Capital

$45,000
50,000
25,000
50,000
75,000
25,000
50,000
100,000
25,000
50,000
50,000
25,000
50,000
25,000
25,000

during existence as a
national
banking
association
$190,171. 50
185,333. 44
121,000.00
94,750.00
306,720.00
19,250. 00
117,500.00
20,500.00
95,000.00
95,000.00
56,250.00
201,750.00
51,750.00
43, 750.00

Capital

$75,000
50,000
50,000
25,000
50,000
25,000
50,000
100,000
25,000
50,000
50,000
25,000
100,000
25,000
25.000

23,217, 500 56,149,932. 61 34,059, 500

A
B
C
D
E

Incompetent management.
Dishonesty.
Local financial depression from unforeseen agricultural or industrial disaster.
Formerly in voluntary liquidation.
Information not available.




Receiver
appointed

Aug. 18,1927
Aug. 25,1927
Sept. 6,1927
Sept. 14,1927
Sept. 15,1927
Sept. 21,1927
Sept. 30,1927
do
Oct. 3,1927
Oct. 20,1927
Oct. 24,1927
do
do
Oct. 29,1927
Oct. 31,1927

Lawful
Apparmoney
ent
deposited
cause
of
failure
D
C
AC
E
AC
C
A
A
C
A
AC
A
E
E
E

$22,400.00
4,100.00
22,400. 00

Circulation
outstanding
at date of
failure

$22,400.00
42,100.00
25,000.00

Total
deposits at
date of suspension

$182,242

25,000.00

50,000.00
48,800.00
24,400.00
49,300.00
24,600.00
16,250.00
11,356,987.00 17,501,950.00

190, 517,957

J>£
QQ

250

BEPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 81, 1927

Title and location of banks

469
513
542
549
554
593
597
598
599
600
601
605
606
610
611
612
613
615
616
619
620
625
626
628
632
633
634
635
640
642
643
645
648
649
650
652
654
655
656
658
660
662
663
664
665
666
667
668
669
670
671
672
673
674
675
677
678
679
680
681
683

687
688
689
691
693

Farmers & Drovers National Bank, Waynesburg, P a . .
First National Bank, Billings, Mont
First National Bank, Pensacola, Fla.._
_
First National Bank, Sutton, W. Va__
First National Bank, Uniontown, Pa
First National Bank, Eureka, S. Dak_
First National Bank, Towner, N . Dak
First National Bank, Hearne, Tex
Farmers National Bank, Cooper, Tex_
First National Bank, Gridley, Calif.-^
First National Bank, Cut Bank, Mont
_
Picher National Bank, Picher, Okla.
_
First National Bank, Ranger, Tex
First National Bank, Beaver, Pa
Corn Belt National Bank, Scotland, S. Dak
First National Bank, Ambia, Ind
First National Bank, Desdemona, T e x . . .
First National Bank, Sipe Springs, Tex
First National Bank, Marcus, Iowa_-_
_
First National Bank, Bridgeport, Nebr
Bannock National Bank, Pocatello, Idaho
Havre National Bank, Havre, Mont._
First National Bank, Joplin, Mont
National Bank of Cleburne, Cleburne, Tex
United States National, Vale, Oreg
__
First National Bank, Vale, Oreg..
First National Bank, Burley, Idaho
Edwards National Bank, Booker, Tex
First National Bank, Wendell, Idaho
Stockmans National Bank, Poplar, Mont__
Stillwater Valley National Bank, Absarokee, Mont
National City Bank, Salt Lake City, Utah
First National Bank, Myton, Utah.
_.
State National Bank, Ardmore, Okla..
Corydon National Bank, Cory don, Ind.__
...
First National Bank, Oak Grove, La
_
First National Bank, Spencer, Nebr_._
First National Bank, Ingomar, Mont.
American National Bank, Billings, Mont
Merchants National Bank, Wimbledon, N . Dak
First National Bank, Mountainair, N . Mex
First National Bank, Colusa, Calif
Commercial National Bank, Great Falls, Mont.
Sterling National Bank, Sterling, Colo
_
Payette National Bank, Payette, Idaho
First National Bank, Highwood, Mont
Citizens National Bank, Laurel, Mont
First National Bank, Magdalena, N . Mex
First National Bank, Broadview, Mont
Commercial National Bank, Wilmington, N . C
First National Bank, Winner, S. Dak.
First National Bank, Wessington Springs, S. Dak
First National Bank, Rupert, Idaho
First National Bank, Warren, Mass
First National Bank, Harlowton, Mont
First National Bank, Clifton, Ariz
Springfield National Bank, Springfield, Ohio.
First National Bank, Roundup, Mont
First National Bank, Gregory, S. Dak
First National Bank, Bottineau, N . Dak
Llano National Bank, Llano, Tex
Farmers & Merchants National Bank, Jefferson, IowaCity National Bank, Jerome, Idaho
First National Bank, Nampa, Idaho
First National Bank, Rock River, Wyo
First National Bank, Highland, Wis
___
First National Bank, Joseph, Oreg
Peoples National Bank, Salisbury, N. C.
First National Bank, Big Sandy, Mont




Date of
organization

Jan.
Dec.
July
Apr.
Jan.
Nov.
Sept.
July
Sept.
Mar.
Oct.
Feb.
Jan.
Feb.
May
July
Sept.
Nov.
June
Feb.
July
May
Nov.
May
July
Jan.
Feb.
May
June
Feb.
Aug.
Nov.
Apr.
May
May
Mar.
Jan.
Aug.
Apr.
Sept.
Apr.
July
Apr.
May
Jan.
Dec.
May
Aug.
Nov.
Apr.
Dec.
Sept.
July
Nov.
Oct.
May
Jan.
May
Feb.
Dec.
Jan.
Dec.
Dec.
Sept.
Apr.
June
Dec.
Mar.
May

30,1865
3,1883
10,1880
7,1902
2,1864
18,1919
29.1905
5,1894
24,1914
14,1918
5,1900
3,1920
26.1906
10,1888
28,1917
30.1909
2,1919
6,1919
22.1910
23,1910
15,1902
18,1910
11,1916
8,1909
14,1907
20.1913
4.1919
30,1909
17, 1917
11,1917
19,1912
10,1920
6,1913
23.1905
2.1920
18.1904
16,1919
5.1920
17.1907
3,1919
1,1911
20.1914
2.1921
9.1906
29,1917
3.1907
27.1912
26.1915
17,1922
15,1917
25,1902
29.1913
14,1919
27.1908
14,1901
17,1882
22,1908
22.1907
17,1901
5,1901
28,1911
22,1919
15.1906
24,1919
14.1916
11.1905
10.1908
9,1917

Capital
stock at
suspension

$200,000
150, 000
500,000
50,000
100,000
50,000
25, 000
50,000
50,000
40,000
50, 000
100,000
200,000
50,000
25, 000
25, 000
25, 000
25, 000
50, 000
25,000
100, 000
50, 000
25, 000
150, 000
75, 000
50, 000
30,000
25, 000
25,000
25, 000
25, 000
250, 000
25, 000
200, 000
125, 000
50,000
100,000
25, 000
150, 000
25,000
30, 000
150, 000
200, 000
150, 000
75, 000
25,000
35, 000
50,000
25, 000
200,000
30,000
50,000
25,000
50,000
50, 000
100, 000
100, 000
50,000
50, 000
50,000
50, 000
40,000
30,000
200, 000
50,000
25,000
25, 000
100,000
25,000

Receiver
appointed

Dec. 12,1906
July 2,1910
Jan. 22,1914
Aug. 29,1914
Jan. 19,1915
Aug. 20,1920
Dec. 28,1920
Jan. 21,1921
Jan. 28,1921
Jan. 29,1921
do.
Feb. 21,1921
Mar. 2,1921
Mar. 26,1921
Mar. 28,1921
Apr. 5,1921
Apr. 7,1921
Apr. 18,1921
M a y 18,1921
M a y 28,1921
June 11,1921
Sept. 16,1921
do.
Oct. 27,1921
Nov. 15,1921
do
Nov. 30,1921
Dec. 12,1921
Jan. 5,1922
Jan. 28,1922
Jan. 30,1922
Feb. 3,1922
Feb. 24,1922
Mar. 4,1922
Mar. 8,1922
M a y 13,1922
July 14,1922
Aug. 14,1922
Sept. 23,1922
Oct. 27,1922
Nov. 2,1922
Nov. 22,1922
Dec. 9,1922
Dec. 11,1922
Dec. 13,1922
Dec. 29,1922
Jan. 4,1923
Jan. 18,1923
Jan. 30,1923
Jan. 31,1923
.do.
Feb. 5,1923
Feb. 7,1323
Feb. 23,1923
Mar. 7,1923
Apr. 2,1923
Apr. 5,1923
.do.
Apr. 12,1923
.do.
Apr. 18,1923
Apr. 27,1923
May 24,1923
June 1,1923
June 14,1923
do.
do
July 3,1923
July 7,1923

251

REPORT OF THE COMPTROLLER OF THE CURRENCY

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of
suspension

Estimated

Estimated

good

doubtful

Progress of liquidation
to date of this report

Additional
assets
received
since
date of
Estimated
worthless
suspen-

Total
assessment of
sharenoiuGrs

ds 0

$814,783 $2,013,406
1,087,304
505,016
507, 052
1,488,390
80,899
310, 050
1,080, 785
2,388, 710
192,169
750, 777
40,132
66. 665
84,309
273,349
633,714
109,437
133, 615
27, 037
91,852
280, 553
177,077
133,918
741,218
1,864,464
426,383
220,623
198,069
217.255
38,298
91,391
49, 505
55,484
33,994
99,097
147,933
139,231
91,326
72,899
735,340
678,103
298,018
238,211
8,751
13,361
483,862
1,337,969
184,455
590,820
286,691
29,968
486,036
412, 057
99, 544
40,627
26,883
140,281
15, 898
102,418
139, 877
101, 355
1,367, 227
2,146, 734
40,431
36,120
913, 996
640,092
394,591
930,940
75,957
39,333
559,918
413,718
48,652
137, 880
270, 200
165,067
57,132
118, 292
22, 802
308,039
128,697
405,565
447,804
1,189,442
241,183
463,971
123,049
63, 743
27, 638
187, 644
102, 694
63, 740
101,460
354, 749
74, 842
40,657
926, 972
1,226, 912
141,052
149, 236
106, 852
223, 691
33, 782
198, 932
129,794
17, 771
81,571
90,142
210,374
194,391
167,913
1,314,132
213,681
112, 832
257,777
45,299
230, 932
182,688
112,936
172,844
117,029
63, 691
37,312
58,182
31,174
94,366
122,998
17,833
88,029
108,961
114, 303
255,458
478,878
15,951
30,367




$130,499 $2,065,909
552,201
645,470
401,444
1,073,322
35,973
27, 210
47, 999
1,023,886
178,517
32,303
222, 990
74,920
144, 913
98,181
11,163
149,356
372, 056
69,819
59, 651
43,870
67, 741
25,350
264, 810
85, 832
75,048
112,457
74, 527
50,999
68,287
18,935
56, 700
11,953
30,441
8,033
227,297
122,384
34,264
29,394
307,421
267, 642
189,443
64,091
8,121
63, 552
764, 506
139,339
154,190
114,370
62,950
76, 745
195,347
100, 727
29,140
40,852
32,406
18,072
41, 613
8,788
14, 313
22,356
863,400
80, 930
19,985
14,329
186, 364
26,058
351, 628
145, 650
19, 564
23,222
247,210
47,176
119,042
19,961
309,219
80,647
21,981
28,908
802
20,414
402,098
156,002
424,765
228,638
270,603
58,183
45, 728
168,413
37,428
25,114
18,396
205, 526
54, 724
37,683
10, 229
39, 793
548, 872
234,147
53, 935
35, 995
60, 909
382,175
186, 403
29,689
48, 614
2,118
405, 582
69, 796
211,101
54, 288
272,028
43, 730
451,201
141,348
63, 798
13, 936
33,330
36,049
141,127
154,162
33,066
24,602
42,676
12, 622
179, 530
21, 854
66,034
57,610
28,640
30,980
138,678
41,134
575,563
60; 729
41,592
3,367

$200,000
150,000
500,000
50,000
50,000
25,000
50,000
50,000
40,000
50,000
100,000
200,000
50,000
25,000
25,000
25, 000
25,000
50,000
25, 000
100,000
50,000
25,000
150,000
75,000
50,000
30,000
25,000
25,000
25,000
25,000
250,000
25,000
200,000
125,000
50,000
100,000
25,000
150,000
25,000
30,000
150,000
200,000
150,000
75,000
25,000
35,000
50,000
25,000
200,000
30,000
50,000
25,000
50,000
50, 000
100,000
100,000
50,000
50,000
50,000
50,000
40,000
30,000
200,000
50,000
25,000
25,000
100,000
25,000

Total
assets
and
stock
assessment

Cash
collected
from
assets

$5,224,597 $1,601,557
2,939,991
1,894,601
1,813,650
3,970,208
504,132
395,327
4,541,380
3,505,987
1,203, 766
822,223
429, 707
122,809
650, 752
369,049
953, 670
6,074
642, 527
278,651
525,926
173,405
504,086
157, 582
3,156,324
1,530,378
884, 511
491,091
282,305
565,850
241,911
111,358
198,642
45,366
196, 565
51,542
686,845
381, 409
252,883
115,132
2,088, 506
1,033, 542
839, 763
356,462
118, 785
40,474
2,875, 676
1,257,014
1,118,835
546,412
506, 354
202, 646
1,224,167
392, 309
235,163
140,628
242,642
119,862
193, 717
51, 853
302,901
157,961
4.708,291
3,097, 504
135,865
32, 539
1,966,510
870,957
1,947,809
1,289,157
208,076
53,825
1,368,022
424,365
350, 535
105, 640
975,133
211,169
251,313
87,051
382,057
129,423
1, 242, 362
629, 277
2,490,649
920,844
1,183,940
443,369
475,933
168, 925
302, 824
116,061
425,356
132, 672
598, 616
204, 885
190,521
56,098
3,136,903
588,711
410,218
176,966
823, 627
324,516
473,806
171,399
£48, 297
172,690
697,091
161,949
770,154
252,703
1,897,803
1,419, 713
969,062
299, 981
430, 810
115, 300
208, 828
532, 999
631,069
131, 588
108, 726
278,388
180,792
93,113
432, 558
52, 685
391,008
118,006
190,482
91,544
428,076
214, 755
1,470,628
660, 531
116,277
35, 504

Cash
collected
from
stock
assessment
469
513
542
549
554
593
28,750
597
16,200
36,046
598
46,900
599
19, 798
600
5,850
601
27, 988
605
17,835
606
40,613
610
15,444
611
19,266
612
3,724
613
13,768
615
20,274
616
3,000
619
40,409
620
13, 633
625
7,157
626
46, 545
628
9,900
632
16, 709
633
11, 536
634
10,017
635
5,177
640
614
642
3,625
643
189,410
645
12,466
648
74,996
649
36,945
650
13,550
652
7,647
654
4,909
655
50,708
656
11,303
658
10,463
660
13V,037
6f>2
178,888
663
73,598
664
41, 898
665
6,707
666
3,900
667
11, 509
668
669
12,500
98,083
670
14,000
671
4,588
672
4,139
673
674
19,500
30,569
675
56,673
677
100,000 | 678
17,587
679
680
681
5,328
10,183
683
684
21,600
6,196
685
6,000
686
687
20, 599
8,300
688
11,009
689
68,322
691

$149,270
7,500
73,805
25,180

875

693

252

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.
Progress of liquidation to date of this report

Offsets
allowed
and
settled

469
513
542
549
554
593
597
598
599
600
601
605
606
610
611
612
613
615
616
619
620
625
626
628
632
633
634
635
640
642
643
645
648
649
650
652
654
655
655
658
660
662
663
664
665
666
667
670
671
672
673
674
675
677
678
679
680
681
683
684
685
686
689
691
693

$546, 299
218,280
647, 368
12, 883
330, 370
96,311
57, 561
20,192
794, 387
30, 651
40,982
11,372
277,235
73, 562
54,217
38,132
5,191
7,422
10, 632
12,812
94,441
30, 695
1,734
370,366
17,815
16,654
106, 214
13,494
16, 054
768
7,186
150,906
5,415
117, 925
81,094
36,703
85,124
12,859
13,493
14,179
18, 922
43,186
61,209
26,233
4,205
10,337
75,066
9,078
773, 794
22, 552
9,723
6,158
12, 733
22, 827
54, 363
221, 864
50, 274
20, 221
31, 463
159,195
7,903
15,042
160
67,925
12, 095
5,318
111, 213

Total
collected
from all
sources,
including

Loss on
assets comRemaining Assets
pounded Remaining uncollect- returned
or sold
ed stock to shareuncollected
under
assessholders'
order of
ment
court

$2,297,126
2,120, 381
2,534. 823
433, 390
3, 836, 357
947, 284
196, 570
425, 287
847, 361
329,100
220, 237
196, 942
1,825. 448
605, 266
351, 966
168, 756
54.281
72, 732
412, 315
130, 944
1,168, 392
400, 790
49, 365
1,673, 925
574,127
236, 009
510, 059
164,139
141, 093
53, 235
168, 772
3,437, 820
50, 420
1,063, 878
1,407,196
104,078
517,136
123,408
275,370
112, 533
158, 808
809, 500
1,306,015
578,176
237,056
126, 973
146, 909
291,460
77, 676
1,460, 588
213,518
338, 827
181,696
204, 923
215,345
363, 739
1,741, 577
367, 842
135, 521
245, 619
300, 966
138, 229
114, 351
58, 845
196, 530
111,939
231, 082
840, 066
40,275

$1,424, 282
131, 667
1,009,190
16, 668
199,167
182,446
224,337
190, 498
103,209
97, 854
113, 959
77, 750
452, 087
36,424
79,357
67,421
123, 085
20, 552
56, 841
27, 525
573,833
47, 207
51, 577
849, 207
479,608
141, 253
695, 644
56,041
81, 726
3,473
20, 408




14, 098
64,189
417,818
32,107
719,154
31,590
37,299
52, 890
419,899
165, 514
232,037
71,389
13,369
7,316
268, 665
31, 020
171, 600
18, 223
62, 637
271,249
10, 425
207, 832
363, 088
156,226
166,604
7,875
242,148
148,677
44,818
24,120
179, 713
132, 557

84, 691
110,067
51, 877

$1,452,459
545, 443
29, 254
505, 856
52, 786
21, 013

195, 371
147, 580
157, 382
696, 624
233, 434
124. 971
92, 049
187, 963
72, 414
286, 690
355, 399
249, 089

112, 623
92,346
1,011,489
58, 813
713,439
34, 740
35,441
39,379
175,446
600,471
87, 784
150, 822

$50, 730
142, 500
426,195
24, 820
21,250
8,800
13, 954
3,100
20, 202
44,150
72, 012
182,165
9,387
9, 556
5,734
21,276
11,232
29, 726
22,000
59, 591
36 367
17,843
103,455
65,100
33,29L
18,464
14,983
19,823
24, 386
21,375
60, 590
12, 534
125,004
88, 055
36,450
92,353
20,091
99.292
13,697
19, 537
12, 963

998,008
297,325
134,386
144,189
240,031

21,112
76,402
33,102
18.293
31,100
38,491

69,325
1,402, 798
162,477
376, 751

12, 500
101, 917
16,000
45, 412
20, 86 L
30, 500
19, 431
43, 327

2,449
254, 483
402,203
237,414
560
141,609
76, 941
18,517
32, 520
40,974
98,312
488, 817

32, 413
50,000
44, 672
39, 817
18, 400
23, 804
194,000
29, 401
16, 700
13,991
31, 678
24,125

Disposition of proceeds
of liquidation

Dividends
paid

$1,286,325
1,387, 675
1,488, 366
315, 273
1, 665, 621
463,157
73, 672
63, 643
46, 467
71, 052
225, 834
380, 919
54, 034
47,400
12, 312
43, 850
33, 695
114, 736
51, 046
5,777
155, 512
55, 342
15, 320
56,287
31, 510
18, 640
950, 300
6,834
358, 713
666. 932
42,132

25,198
188,313
365, 380
89, 831
74,635
17, 051
29,409
254, 470
14, 507
33, 699
111, 702
30, 537
66, 717
1,221,257
49, 854
95, 099
40, 578
46, 844
39, 381
30,405
49, 702
29, 874
409,962
4,368

Secured
and preferred
liabilities,
including
offsets
paid

$754,067
218, 420
862, 327
34, 203
1, 030, 259
249, 535
90, 851
310, 592
841, 287
233,016
164, 815
65.114
1,457,090
128, 463
172,472
88, 643
25,491
28, 359
304, 889
65.115
912, 549
285,404
27, 866
1,453, 688
482, 323
182,726
415, 299
106, 316
101,801
47,813
134, 656
2,256,451
25, 328
552, 575
589, 511
72,857
403,337
108,228
106, 237
94,055
96,580
567,956
857,284
416,126
97, 550
91,325
113,087
233,157
53, 723
964,273
146, 686
245, 844
120,913
14,343
129,155
270,001
460,421
260, 719
108, 566
90,248
213, 471
73,408
60,391
1,410
126,573
32,568
180,680
334, 240
27,402

REPORT OP THE COMPTROLLER OF THE CURRENCY

253

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$75,842
310,938
78,624
2,812
432, 731
124,328
1,380
14,381

$127,110
191,685
105,506
68,112
205,814
109,071
30,667
33,218
6,074
33,802
31.168
30, 585
91, 879
23,205
63,846
27, 534
12,656
21, 209
41,413
20, 929
76,639
45, 944
15.714
51,309
34,206
25, 775
38,067
26,099
19,823
4,065
22,168
85,365
15, 566
99,363
45,648
15,012
49,112
14,824
54,618
10,906
25 912
45,566
53, 662
37 182
38,138
8,221
18,246
27,513
13,433
94 851
24, 275
42, 668
19, 535
23,374
25,031
23, 777
59,879
23 814
16,497
20, 652
19 098
11, 819
16, 800
16, 358
24, 672
18,192
20,169
46, 857
8,334

450
5,816
9,206
9,356
4,911
42,538
966
1,257
2,031
4,480
1,130
1,313
9,160
8
10,527
2,256
1,051
406
214
829
151
1,287
6,989
94
35,669
55, 803
654
3,737
59
16,436
1,499
9 451
7,665
4,876
7 352
8,405
4,415
1,381
1,777
12 811
21,195
7,754
7,549
2,030
3,244
20
3 152
5,272
8,253
19
130
6,541
1,696
250
216
229
171




Cash in
hands of
comptroller
and
receiver

Amount
returned
to shareholders
in cash

$53, 782
11,663
12,990
151,932
1,193
3,453
15,365
18,438
20,985
41,289
67, 768
19,076
4,213
2,565
21,133
17, 683
10,075
63,155
9,236
2,889
11,137

1,206
10,661
138,715
2,598
17, 558
49,302
7,122
18,818
'297
39,984
6,073
1,667
24,813
27 685
18,328
10,375
11,161
8 743
134 183
6,855
42,561
55 504
28,592
30 303
5,186
31,367
27 800
6,028
1,623
14, 630
11,477
143
48,778

$350,000

Amount
of claims
proved

$1,570,643
1,850,300
•1,882, 688
350,303
1,395, 758
801,165
295,885
115, 777
15,087
439, 651
243, 528
209,012
1,230,046
634,900
347, 840
94,800
123,129
114, 258
146,167
112,324
1,002.909
459,204
44,011
2,472,259
760, 640
306, 584
945,996
57,865
78,974
79,816
118,219
1,583,146
68,356
793,436
952, 760
41,869
843, 891
165,089
580,956
170,564
251,979
235, 578
1,462,020
450 069
188, 533
228, 846
208, 426
300, 635
111,002
1,637,817
181,825
637, 672
315,882
279,256
416,046
444, 776
1,934, 491
459, 661
245,093
380,419
162,363
92, 712
57, 991
358,090
169, 314
90,371
141,048
774, 564
48, 541

Dividends
(per
cent)

75
75
78.35
90
100
55
24.9
42

Interest
dividends
(per
cent)

Finally
closed

July 18,1927
16.12
July 15,1927
June 30,1927

10
30
17
60
15
50
10
30
30
7.5
10
11.75
5
7.25
5
5.95
37.62
22

Mar. 31,1927
Oct. 31,1927
A p r . 25,1927
Sept. 13,1927
F e b . 9,1927

60
10
45
70
20
5

1
6
10
50.75
25
20
35
7.5
8.9

M a r . 31,1927

July 31,1927

15
8
10.6
40
6.5
15
63 13
g
25
25
45
50
11
15
55
10
50
9

J u l y 20,1927
J u l y 31,1927
Dec. 10,1926

Oct. 19,1927

M a r . 31,1927

469
513
542
549
554
593
597
598
599
600
601
605
606
610
611
612
613
615
616
619
620
625
626
628
632
633
634
635
640
642
643
645
648
649
650
652
654
655
656
658
660
662
663
664
665
666
667
668
669
670
671
672
673
674
675
677
678
679
680
681
683
684
685
686
687
688
689
691
693

254

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.

Title and location of banks

694
696
697
6D8
699
701
702
703
704
706
707
708
709
710
711
713
714
715
716
717
718
719
720
721
722
723
724
725
726
727
729
731
733
734
736
737
738
739
740
741
743
744
745
746
747
748
749
751
752
753
754
755
756
757
758
760
761
762
763
764
765
767
768
770
771
772
773
774
775
776

Date of
organization

First National Bank, Willow City, N . Dak
First National Bank, Sapulpa, Okla
First National Bank, Chester, Mont
.*
First National Bank, Henryetta, Okla
First National Bank, Carroll, Nebr
First National Bank, Shelby, Mont
Fairfield National Bank, Fairfield, Iowa.
Howard National Bank, Howard, S. Dak
Roundup National Bank, Roundup, Mont
First National Bank, Oswego, Mont
First National Bank, Lovington, N . Mex
First National Bank, Wells, Minn-__
First National Bank, Mitchell, S. Dak
Cavalier County National Bank, Langdon, N . D a k .
American National Bank, Three Forks, Mont
Lehigh National Bank, Lehigh, Okla
City National Bank, Coalgate, Okla
First National Bank, Grey Eagle, Minn
First National Bank, Fairview, Mont
First National Bank, Carter, Mont
First National Bank, Hemingford, Nebr
Union National Bank, Beloit, Kans
Texas County National Bank, Guymon, Okla
Tucson National Bank, Tucson, Ariz
National Bank of Barnesville, Barnesville, Ohio
Citizens National Bank, Roswell, N . Mex
First National Bank, Lancaster, Minn
First National Bank, Tolley, N . D a k
Citizens National Bank, Crosby, N . Dak
First National Bank, Turtle Lake, N . Dak
First National Bank, Springfield, S. Dak
Farmers National Bank, Tishomingo, Okla
First National Bank, M a n ville, Wyo
First National Bank, Woodworth, N . D a k .
First National Bank, Poplar, Mont
First National Bank, Lansford, N . Dak
First National Bank, Forsyth, Mont
Condon National Bank, Condon, Oreg..
_
First National Bank, Moore, Mont
Miners National Ban, Henryetta, Okla
Merchants National Bank, Mandan, N . Dak
First National Bank, Webster, S. D a k . . .
First National Bank, Dodson, Mont
Sioux Falls National Bank, Sioux Falls, S. Dak
First National Bank, Sentinel Butte, N . D a k
First National Bank, Beach, N . Dak
_
First National Bank, Bisbee, N . Dak
National Bank of Carlsbad, Carlsbad, N . Mex
Dakota National Bank, Dickinson, N . D a k .
First National Bank, Lusk, Wyo
First National Bank, St. John, Wash
First National Bank, Warroad, Minn
First National Bank, Brookings, S. Dak
First National Bank, Ronan, Mont
First National Bank, Harrison, N e b r . .
First National Bank, Clarkston, Wash
First National Bank, Carthage, S. Dak
First National Bank, Onida, S. Dak
"
_
Commercial National Bank, Miles City, Mont
Nowata National Bank, Nowata, Okla.-__.
First National Bank, Castlewood, S. Dak
First National Bank of Clovis, N . M e x . . .
First National Bank, Charlo, Mont
First National Bank, Sidney, M o n t . . .
Stockmans National Bank, Fort Benton, Mont
First National Bank, Fort Sumner, N . Mex
Wells National Bank, Wells, Minn
First National Bank, Gering, Nebr
Western National Bank, Mitchell, S. Dak.._
First National Bank, Coalgate, Okla

Apr. 18,1903
Aug. 19,1901
Nov. 15,1917
June 29,1903
Aug. 21,1901
Dec. 14.1916
Dec. 24.1907
Aug. 13.1915
Oct. 26,1914
Jan. 8,1918
M a y 26.1917
Dec. 12,1891
Feb. 8,1882
Jan. 28.1908
Apr. 30,1917
Feb. 14.1901
Mar. 10.1920
M a y 28,1907
Aug. 26.1921
Apr. 25.1917
July 27.1912
Mar. 24,1903
Mar. 21.1922
Feb. 21.1918
Jan. 29,1903
Apr. 20.1903
M a y 14.1919
M a y 17.1905
Apr. 14,1914
June 8,1907
Oct. 2,1907
July 23.1913
May 1,1918
Apr. 26,1919
July 28.1916
Mar. 16.1906
June 10.1904
Mar. 26.1906
Jan. 7,1907
Feb. 20.1913
Aug. 24.1914
Nov. 19.1902
Aug. 23.1917
Nov. 14.1882
Feb. 10.1915
M a y 26.1909
Apr. 1,1903
July 8,1903
Mar. 4,1905
June 23.1919
Mar. 11.1918
Aug. 4,1920
Nov. 15.1883
Aug. 31.1910
June 28.1907
Mar. 16.1903
Mar. 20.1916
Jan. 17.1920
Aug. 15,1895
Aug. 23,1902
Oct. 2,1901
June 14,1907
Feb. 26,1918
Dec. 23,1907
Dec. 24,1889
Feb. 28,1907
Apr. 6,1903
Dec. 28.1905
Sept. 12.1904
Dec. 8,1900




Capital
stock at
suspension

$25,000
100,000
25,000
50,000
50,000
25,000
60,000
25,000
25,000
25,000
30,000
100, 000
100, 000
25,000
25,000
35,000
50,000
25,000
40,000
25,000
25,000
50,000
25,000
100,000
100,000
200,000
25,000
25,000
25,000
25,000
25,000
25, 000
25,000
25,000
25,000
25, 000
75, 000
50, 000
25,000
50,000
50, 000
25,000
25, 000
150,000
25,000
50,000
25,000
100,000
50,000
50,000
40,000
25,000
100,000
25,000
50,000
50,000
25,000
25,000
250,000
25,000
25,000
100,000
25,000
50,000
200,000
25,000
75,000
25.000
100,000
100,000

Receiver
appointed

July 12,1923
July 30,1923
do
July 31,1923
Aug. 13,1923
Aug. 27,1923
Aug. 30,1923
Sept. 1,1923
Sept. 6,1923
Oct. 5,1923
Oct. 8,1923
Oct. 22,1923
Oct. 23,1923
Oct. 29,1923
do
Nov. 8,1923
do
do__
do__
Nov. 9,1923
Nov. 10,1923
Nov. 13,1923
do
Nov. 14,1923
Nov. 16,1923
Nov. 19,1923
Nov. 21,1923
do
do
Nov. 28,1923
Dec. 6,1923
Dec. 11,1923

do.
Dec. 17,1923

_—do
Dec. 18,1923
do
Dec. 20,1923
Dec. 21,1923
Dec. 26,1923
Jan. 2,1924
Jan. 21,1924
Jan. 24,1924
do

do
Jan. 28,1924
Feb. 6,1924
Feb. 7,1924
do
do
Feb. 9,1924
do
do
Feb. 12,1924
do
—_do
do
Feb. 15,1924
Feb. 19,1924

do
Feb. 20,1924
.do
Feb. 26,1924
do
.do
do
do
Feb. 27,1924
do
,

255

KEPORT OF THE COMPTROLLER OF THE CURRENCY

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of

Progress of liquidation
to date of this report

suspension

Estimated
good

Estimated
doubtful

Additional
assets
received
since
date of
Estimated
suspenworthless
sion

Total
assessment of
shareholders

Total
assets
and
stock
assessment

Cash
collected
from
assets

Cash
collected
from
stock
EISS6SS-*

ment

$80,630
219,280
35,274
547,977
153,317
79,131
17, 338
75,257
56,176
58,678
112,400
166,679
458,659
404,632
38,395
79,658
107,244
13,849
47,361
15,858
69,998
321,654
180,421
413,189
457, 554
123,511
89,131
22, 707
19, 745
95,358
80,056
57, 574
60,365
31,237
37,830
19,849
242,350
103,031
46,657
357,810
45,048
125,681
33,605
1.748,843
98, 731
297,840
86,439
731, 798
17,446
36, 597
100, 653
117, 758
337,212
30,884
205,675
98,887
58,572
69,633
806,234
288,368
168,897
27,339
470,454
252,126
85, 609
393, 700
*50, 628
196,375
463,871

$143,859
566,071
105,392
516,671
257,311
218, 301
48,353
150,855
31,316
48,843
113,607
652,820
846,395
171,990
50,025
149,623
103,050
57, 799
74,354
56,628
159,664
169,837
48,653
174,932
53,910
847, 636
156,379
103,412
119, 835
41, 582
95, 280
119, 943
29, 928
99,313
111, 276
94,211
299,147
103,632
138,147
190,573
175,697
113,962
63,939
746, 250
48,156
160,685
143, 983
220,201
153, 683
76, 268
67, 235
102, 560
428,037
155, 788
247, 817
170,037
165,098
79,432
946,948
240,028
53,246
28,000
52,561
32,690
798,011
61,865
901, 924
253,229
509,732
345,544




$42,626
235,987
115,343
201,869
194,165
57, 715
231,384
65, 710
318,478
15,588
79,202
297,201
57,902
54,696
33, 574
86,078
76,102
60,287
171,967
16, 553
48,563
233, 227
54,570
320,416
520,999
672,204
77,025
60,218
72, 757
84, 886
59, 725
86,292
35,676
27,321
74, 294
75, 580
1405196
75,577
53,270
111, 563
211,368
74,918
69,802
458,547
43, 647
96,317
41,049
215,322
91,909
46,111
47,400
30, 983
381, 524
34, 080
107,309
15, 439
129,011
54,917
677,140
115, 811
64,991
2, 521
290,148
453,156
20,170
15,871
113, 727
261,195
161, 521

$18,018
118,953
29,636
89, 205
20,571
23,266
4,991
14,254
7,493
22, 533
45, 568
101,898
61, 951
41,115
39,237
6,504
82, 665
4,395
16,853
11,210
51,186
194,195
47,432
39,083
130,210
48,192
42,091
40,178
45,992
31,313
8,279
7,274
8,216
5,181
16,076
17,780
38,642
27,886
33,170
88,031
49,204
24,183
8,839
171, 283
21,288
52, 261
37, 763
101,401
30,155
30,007
25,139
35,858
156,481
19, 251
28,921
28,009
18,197
20, 813
109,553
182,131
26,468
696
5,377
80,184
67,399
11,325
96,756
42,467
97,007
61,130

$25,000
100,000
25,000
50,000
50,000
25,000
60,000
25,000
25,000
25,000
30,000
100.000
lOO', 000
25,000
25,000
35,000
50,000
25,000
40,000
25,000
25,000
50,000
25,000
100,000
100,000
200,000
25,000
25,000
25,000
25,000
25,000
25.000
25,000
25,000
25.000
25,000
75,000
50,000
25,000
50.000
50,000
25,000
25,000
150,000
25,000
50,000
25,000
100,000
50,000
50,000
40,000
25, 000
100,000
25, 000
50,000
50,000
25, ()00
25,000
250,000
25,000

25, 000
25,000
50,000
200,000
25,000
75,000
25,000
100.000
100,000

$310,133
1,240, 291
310,645
1,405,722
675,364
403,413
358,066
331, 076
438,463
170,642
380, 777
1,318,598
1,524, 907
697,133
186, 231
356, 863
419, 061
161. 330
350, 535
125,249
354, 411
968,913
356,076
1,047,620
1,262, 673
1,891, 543
389, 026
251, 515
283, 329
278,139
268,340
296, 083
159,185
188,052
264,476
232,420
795,335
360,126
296,244
797, 977
531,317
363,744
201,185
3,274,923
236 822
657,103
334, 234
1,368, 722
343,193
238, 983
280, 427
312,159
1,403, 254
285, 003
639, 722
362, 372
395* 878
249, 795
2, 789, 875
851,338
338,602
28, 696
112,798
923,476
1,770, 692
203,969
1,483, 251
485, 051
1,164, 309
I 1,132,066

$121,076
335,081
87,267
584,660
216, 585
203,900
41, 721
128,459
122,280
86,557
129,163
491, 704
730, 564
250,209
53,611
96, 525
101, 610
42,187
94, 537
43,131
157, 787
352, 705
221, 069
674, 965
492,709
892,438
153, 987
79, 876
119,300
128,003
94, 870
79,827
49,663
73, 294
86, 721
121, 724
313,186
162, 795
137, 213
233,405
214,263
139, 933
62,509
1, 428,187
68, 728
237, 958
123, 626
565,189
111, 876
100,195
166, 685
123,175
418, 277
110, 862
223, 842
177, 205
137, 403
104,481
1,152, 034
355,466
145,420
21,131
46,131
435,378
669,361
98, 527
752, 663
135,202
618,178
360,427

$2,535
42,000
2,000
27,390
4,000
3,329
58,475
13,661
7,809
10,263
19,536
28, 786
36,750
5,508
7,800
3,800
2,860
7,800
23,900
13,044
11, 758
29, 379
23, 371
40,464
98,400
46,437
6,300
10,006
18,821
4,500

500
1,000
8,955
11,604
12,355
7,000
24,319
37,005
9,140
18,607
7,800
8,248
2,450
52,188
8,576
14,482
12,000
36,076
21,223
17, 207
18,000
16,096
85,864
1,341
26,100
32S 228
11,387
10,060
89.618
22; 630
10,305
8,338
22, 525
109,423
14,833
16,872
8,390
45,455
10,675

694
696
697
698
699
701
702
703
704
706
707
708
709
710
711
713
714
715
716
717
718
719
720
721
722
723
724
725
726
727
729
731
733
734
736
737
738
739
740
741
743
744
745
746
747
748
749
751
752
753
754
755
756
757
758
760
761
702
763
764
765
767
768
770
771
772
773

774
775
776

256

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.
Progress of liquidation to date of this report

Offsets
allowed
and
settled

701
702
703
704
706
707
708
709
710
711
713
714
715
716
717
718
719
720
721
722
723
724
725
726
727
729
731
733
734
736
737
738
739
740
741
743
744
745
746
747
748
749
7ul
752
753
754
755
756
757
758
760
761
762
763
764
765
767
768
770
771
772
773
774
775
776

$6,615
238,582
263
71,910
29,793
28,173
4,623
24, 737
8,848
43, 955
55, 804
52,493
4,829
9,588
1,818
14,348
1,778
10, 752
921
11, 053
45,018
45, 268
14, 683
119,398
62,105
20, 559
25, 346
48, 029
9,164
8,561
10,189
24,476
609
2,265
8,880
41, 047
10, 707
9,201
208, 316
15, 075
16, 587
2,377
371, 680
6,965
21, 247
14, 822
131,967
10, 519
6,882
10, 932
29,578
44,100
10, 062
50, 554
10, 839
13, 381
2,172
94, 808
62,978
4,011
5
5,185
22,421
24,884
10,315
85,789
53,345
37,085
31,991

Total
collected
from all
sources,
including
offsets
$130,226
615, 663
89,530
683, 960
250, 378
235,402
100,196
146, 743
154,826
105, 668
192, 654
576, 294
819, 807
260, 546
70, 999
102,143
118, 818
51, 765
129,189
57,096
180, 598
427,102
289, 708
730,112
710, 507
1,000, 980
180, 846
115, 228
186,150
141, 667
103, 931
91, 016
83,094
85, 507
101, 341
137, 604
378, 552
210, 507
155, 554
460, 328
237,138
164, 768
67, 336
1, 852, 055
84,269
273, 687
150,448
733, 232
143, 618
124, 284
195, 617
168, 849
548, 241
122, 265
300,496
220, 272
162,171
116, 713
1,336,460
441,074
159, 736
21,136
59, 654
480, 324
803, 668
123, 675
855, 324
196, 937
700, 718
403,093




Loss on
assets com'
Remaining
pounded Remaining uncollect- returned
or sold
uncollected ed stock to shareunder
holders'
agents
order of
ment
court
$157,442
181, 826
183,305
699,152
195, 541
12, 580
34, 324
37, 573
213, 980
177, 659
49, 969
192,390
15, 571
38, 446
1,329
15, 237
92, 365
76, 082
56,197
160, 571
86, 053
9,438
257,972
13, 474
316, 359
12,757
121, 293
91, 000
21, 786
138, 964
15, 296
60, 046
69, 886
2,339
76, 816
72, 947
4,735
12,133
306, 256
22, 978
33,314
111,299
251, 251
30, 335
10, 770
6,312
385, 224
29,771
81,906
14,890
16, 673
115, 756
47,814
119,885
27,492
1,150
86, 777
130, 969
19,522
7,560
14, 843
25, 514
55, 611
6,843
121, 331
43,989
85, 272
6,108

47,920
117,733
725,121
71, 265
315,326
4,443
192, 602
116, 992
1, 206, 256
276, 925
144, 649

$22, 465
58,000
23,000
22,610
46,000
21, 671
1,525
11, 339
17,191
14,737
10,464
71,214
63, 250
19, 492
17,200
31,200
47,140
17, 200
16,100
11, 956
13,242
20, 621
1,629
59, 536
1,600
153, 563
18, 700
14, 994
6,179
20, 500
24, 500
24, 000
16,045
13,396
12, 645
18, 000
50, 681
12,995
15,860
31,393
42, 200
16, 752
22, 550
97,812
16,424
35, 518
13,000
63,924
28,777
32, 793
22,000
8,904
14,136
23, 659
23,900
17, 772
13,613
14, 940
160, 382
2,370
14, 695

21, 639
390,163
820,836
63,284
448,468
227, 515
323, 774
633,540

16, 662
27,475
90, 577
10,167
58,128
16,610
54,545
89, 325

$384,802
14, 810
183,445
133, 760
222, 021
135,421
52, 466
50, 237
621,121
449, 460
401, 824
59, 586
222,191
237, 866
129,164
435,137
55, 301
537,092
420, 641
177, 323
94,186
945
165,771
19, 263
148,151
293,155
131, 889
112, 697

~229,~66r
148, 910
1,073,805
105, 794
337,128
164,474
186, 342
141, 027

Disposition of proceeds
of liquidation

Dividends
paid

$22,536
117,144
291,987
18,679
83,151

30, 282
44,110
167, 994
82,747
7,354
8,726
9,694
23, 521
19, 203
120,412
157, 850
96, 865
216, 002
409, 988
146, 687
26, 816
23,433
87, 841
30,424
14, 686
35, 651
73.106
109,253
47, 682
54, 853
103, 851
84, 380
59.107
4,200
607,101
14,458
77,282
20, 887
86,859
61,467
50,047
96.452
43, 630
98, 802
15,185
147, 994
108,280
20, 682
15, 092
606, 238
137, 056
24,795
19,490
29, 658
63.453
258,510
41, 036
339, 669
34,095
115,935

Secured
and preferred
liabilities,
including
offsets
paid
$88,510
408,383
78,126
343,521
181,237
86, 872
85, 564
106, 669
116, 596
56, 294
133, 552
318,056
518, 973
201, 550
52, 331
81, 858
93, 371
18, 726
90, 614
34,126
37,114
138, 977
152,071
394,271
198,412
777, 627
117,840
80,712
79, 588
69.781
66, 617
74,137
34,616
69,751
75,173
49, 501
232,206
122,729
80,386
329,499
68, 066
67,341
54, 755
928,314
54,565
144,515
85.782
553, 621
39,940
62,044
79,913
88,064
354,085
67,952
117,970
48,980
112,085
84,333
638.330
216,454
99,180
67
18,362
382, 766
476,346
68,320
363;550
131,312
507.331
334,832

KBPOKT OF THE COMPTROLLER OF THE CURRENCY

257

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$2,299
3,229
137
7,820
2,228
16,839
2,020
1,452
352
176
541
17,993
131, 049
7,752

Cash in
hands of
comptroller
and
receiver

$16,881
59,322
8,338
40,632
29,055
29,617
9,166
19,166
18, 975
10, 010
14, 451
39, 502
74,625
40, 370
10, 522
15, 055
13, 836
13, 796
14, 044
3,767
23,072
53, 328
23,147
50,114
20, 424
43, 561
15, 454
10, 568
17, 314
20, 455
21, 229
11, 222
12, 819
4,759
12, 620
13,884
22, 067
22,053
13, 741
24, 574
41, 427
20,591
8,381
144, 940
12, 351
27, 210
20,289
30, 814
23,456
12,160
13, 878
22,185
46, 828
16, 302
11,197
25, 279
19, 308
11,425
68,820
41, 743
23,008
1,579
9,868
25, 311
40,012
11, 066
53, 771
23, 830
44,135
33, 317

2,105
1,390
934
24
23,682
3,489
32, 774
554
1,085
515
1,407
8,662
293
101
8
1,731
226
1,113
1,831
2,035
1,700
2,404
20, 250
2,113
38, 242
324
7,498
179
1,446
33
53
7,904
17,018
3,590
100
194
3,736
3,943
3,118
7,787
2,129
1,540
756
3,080
1,370
10, 678
1,706
7,795
5,835




$27,585
2,929
19,179
18,923
3,446
19, 456
18,903
8,906
32, 749
12,413
10, 874
792
3,125
1,495
8,345
986
53, 265
14,136
36,951
81,129
33,105
19, 651
12, 345
1,106
5,556
9,266
13, 322
13,195
16, 008
4,874
23,015
15, 616
133, 458
2,571
17,182
23,490
61, 759
17,309
5,321
7,066
31, 508
19, 236
23, 235
37, 539
6,360
1,920
19,954
38, 034
10, 624
226
8,038
25, 720
1,883
87,656
5,994
25,522
29,109

Amount
returned
to shareholders
in cash

Amount
of claims
proved

$225,389
548,831
237,082
912,791
373,576
207, 878
104,938
244,424
295 465
46,328
229,167
729 728
724,908
438, 207
73, 662
250,452
174 557
99, 646
234,782
39, 675
201,186
596, 777
188, 555
424, 611
905,106
975,911
223,943
135,462
151, 005
131, 378
161, 758
202,834
58,876
112,419
175,914
117,542
398 848
121, 236
140,202
328, 589
328, 677
222,275
116,692
1,894, 211
134,180
454,104
210,406
868, 628
174, 790
58, 798
98, 774
144,132
959, 589
151, 501
365, 787
163, 618
258, 542
114,106
1, 534, 957
400, 266
164, 996
67, 215
41,676
397, 007
430,872
74,297
889,124
284,868
366, 770
682, 969

Dividends
(per
cent)

Interest
dividends
(per
cent)

Finally
closed

10
20

Sept. 21,1927

30.94
5
40

Mar. 31,1927

55
. 19. 25
20
10

Aug. 25, 1927

10
5
10
10
36.5
59.85
25
52.5
50
45
15
10
17.3
57 10
20
9 08

Sept. 12,1927
Feb. 17,1927

Apr. 30,1927

do

59

M a r . 21,1927

62.2
25
30
35
31.1
25
25
3.6
32
10
17
10
10
35
66
85
27
10
10
40
60
8
10
40
35
15
29
71
16
60
55
35
10
25

July 21,1927

July 15,1927
June 30,1927

Mar. 21,1927

Sept. 30,1927

694
696
697
698
699
701
702
703
704
706
707
708
709
710
711
713
714
715
716
717
718
719
720
721
722
723
724
725
726
727
729
731
733
734
736
737
738
739
740
741
743
744
745
746
747
748
749
751
752
753
754
755
756
757
758
760
761
762
763
764
765
767
768
770
771
772
773
774
775
776

258

REPORT OF THE COMPRTOLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 81, 1927—Con.

Title and location of banks

First National Bank, Mclntosh, S. Dak
First National Bank, Clayton, N. Mex__
First National Bank in Deming, Deming, N. Mex
First National Bank, St. Anthony, Idaho
First 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, Wyo
First National Bank, Poison, Mont
._.
Merchants National Bank, Crookston, Minn
-_
First National Bank, Bristow, Nebr
_First National Bank, Lake Preston, S. Dak
First National Bank, Plentywood, Mont__
First National Bank, Sterling, Colo
First National Bank, Rocky Ford, Colo
First Natl. Bank of Fergus Co., Lewistown, Mont
First National Bank, Marysville, Kans
First National Bank, Alexander, N. Dak
First National Bank, Pilger, Nebr_
First National Bank, Wilsall, Mont
National Bank of Commerce, Shawnee, Okla__.
Citizens National Bank, Hankinson, N. Dak__.
City National Bank, El Paso*, Tex
_.
First National Bank, Carlsbad, N. Mex
First National Bank, Baker, Mont
Farmers National Bank, Burlington, Kans
Drovers National Bank, East St. Louis, 111
First National Bank, Schuyler, Nebr
First National Bank, Morristown, S. Dak
City National Bank, Huron, S. DakL
First National Bank, Newcastle, Wyo_.
._.
Citizens National Bank, Julesburg, Colo
First National Bank, Basin, Wyo
First National Bank, Lidgerwood, N. Dak
Citizens National Bank, Worthington, Minn...
First National Bank, Poteau, Okla
National Bank of Commerce, Rochester, N. Y.
Weiser National Bank, Weiser, Idaho. __
_.
Citizens National Bank, Ness City, Kansi
First National Bank, Cheyenne, Wyo
_.
First National Bank, Lambert, Mont
First National Bank, Bridgewater, S. Dak
Citizens National Bank, Cheyenne, Wyo
First National Bank, Harrington, Wash...
First National Bank, Minnesota Lake, M i n n First National Bank, Rexburg, Idaho
First National Bank, Ririe, Idaho
First National Bank, Putnam, \_.«ji-ij_i
j c i i s o INctuiui-iai jjiau-ii., x uxj-iajm., Conn.
State National Bank, Carlsbad, N. Mex.i
Northwestern National Bank, Livingston, Mont
First National Bank in Clovis, N. Mex
First National Bank, Beaver Creek, Minn
First National Bank, Groom, Tex
First National Bank, Ozark, Ala
First National Bank, Ulen, Minn
First National Bank, Alma, Wis
Merchants National Bank, Grinnell, Iowa
First National Bank, Morgan, Tex
First National Bank, Abbeville, Ala
First National Bank, Algona, Iowa
First National Bank, Boise City, Okla
First National Bank, Allendale, S. C__
First National Bank, Barn well, S. C
First National Bank, Center, Tex
Farmers National Bank, Dodge Center, Minn
First National Bank, Torrington, Wyo
Parkesburg National Bank, Parkesburg, Pa
First National Bank, Buffalo, Okla
First National Bank, Oldham, S. Dak


777
778
779
780
781
782
783
784
785
787
789
791
794
796
797
798
799
802
803
804
805
806
807
808
810
811
812
813
814
815
816
817
818
819
820
822
823
824
827
829
830
831
832
833
835*
836
837
838
839
840
841
842
843
845
846
847
850
851
852
853
855
856
857
858
859
860
861
862
863
864

Capital
Date of
stock at
organization suspension

Oct. 16,1908
Dec. 29,1900
Aug. 5,1903
Dec. 31,1900
M a y 19,1882
F e b . 8,1913
Apr. 14,1919
Aug. 19,1918
F e b . 3,1919
M a r . 26,1909
Oct. 25,1884
J u n e 5,1909
J u l y 24,1915
M a y 12,1913
Oct. 29,1900
Oct. 23,1903
M a y 9,1904
Aug. 25,1882
J a n . 22,1919
Aug. 2,1901
Apr. 11, 1919
Aug. 18,1923
J a n . 18,1906
Oct. 14,1904
M a y 19,1900
Aug. 19,1913
Sept. 10,1903
Apr. 30,1913
Sept. 4,1882
M a y 11,1910
J u n e 3,1907
M a r . 23,1904
Sept. 29,1909
M a y 15,1916
M a y 29,1901
J u n e 7,1901
J a n . 14,1904
F e b . 1,1906
F e b . 19,1906
F e b . 3,1906
Dec. 29,1870
Apr. 20,1918
Aug. 3,1903
J a n . 15,1906
J u l y 10,1908
Apr. 5,1902
J a n . 19,1904
Oct. 9,1916
M a r . 23,1864
F e b . 8,1917
M a r . 27,1917
F e b . 28,1924
Jan.
4,1909
Aug. 16,1919
F e b . 13,1905
Dec. 12,1903
M a y 16,1906
Apr. 28,1883
M a y 3,1902
Aug. 17,1901
M a y 22,1884
Aug. 30,1917
N o v . 30,1917
Jan.
9,1919
Sept. 10,1901
F e b . 4,1903
Oct. 6,1908
F e b . 27,1880
Sept. 2,1907
Aug. 30,1912

$25,000
75,000
40,000
50,000
65,000
60,000
25,000
25,000
35,000
25,000
7o, 000
40,000
25, 000
50,000
100, 000
60,000

300,000
75,000
25,000
50,000
25,000
100,000
30,000
500,000
100,000
25,000
55,000
200, 000
50,000
25,000
25,000
25,000
35, 000
50, 000
25,000
25,000
1, 500, 000
75,000
45,000
200, 000
25,000
25,000
100, 000
50,000
25,000
50, 000
25, 000
150, 000
75, 000
100,000
50,000
30,000
25,000
35, 000
25,000
25,000
100, 000
25, 000
100,000
50,000
25,000
50,000
50,000
50,000
30,000
50, 000
50,000
25,000
25,000

Receiver
appointed

Mar. 1,1924
—_do
Mar. 4,1924
-—doMar.
Mar.
Mar.
Mar.

14,1924
15,1924
18,1924
19,1924

Mar. 22," 1924
Mar. 24,1924
do

Mar. 28,1924
Mar. 31,1924
Apr. 5,1924
do
Apr. 12,1924
Apr. 15,1924
do
Apr. 22,1924
do
Apr. 28,1924
Apr. 30,1924
May 8,1924
May 14,1924
May 20,1924
May 21,1924
May 22,1924
May 24,1924
do._
do
June 12,1924
do
June 14,1924
June 17,1924
June 19,1924
do.
June 21,1924
June 23,1924
July 3,1924
July 9,1924
July 16,1924
July 18,1924
July 21,1924
Aug. 6,1924
do
Aug. 11,1924
do
Aug. 13,1924
Aug. 25,1924
Aug. 30,1924
Sept. 4,1924
Sept. 20,1924
Oct.
6,1924
Oct. 23,1924
Oct. 28,1924
Nov. 7,1924
Nov. 12,1924
Nov. 13,1924
Nov. 14,1924
Nov. 24,1924
Nov 25,1924
Dec. 3,1924
do

do
Dec.
9,1924
Dec. 16,1924
Dec. 26,1924
Dec. 27,1924
Jan.
3,1925

259

REPORT OF THE COMPTROLLER OF THE CURRENCY

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

N o m i n a l assets at d a t e of
suspension

Estimated
good

Estimated Estimated
doubtful worthless

Progress of liquidation
to date of this report
Additional
assets
received
since
date of
suspen-

Total
assessm e n t of
shareholders

$59,230
75,621
106,843
193,783
938,783
162,379
22,914
47, 111
48, 570
56, 400
752, 444
97, 071
79, 237
133, 898
269, 033
162, 213
1,473, 857
128, 028
98, 263
116,055
4,544
498, 560
61, 532
1, 595. 305
22% 143
89, 083
187,375
365, 514
183, 098
10, 602

$103, 589
217,934
252, 457
206,458
851,487
91, 506
76,454
52, 914
46, 686
109, 949
557, 258
85, 731
109, 207
191, 366
566, 659
152, 393
2, 307, 203
414, 224
112, 856
138, 972
33,162
449, 972
107, 787
3,381,887
691, 804
110, 292
218, 309
351, 033
331, 264
100,832

$48, 945
93,915
156,092
218,988
265, 511
148,925
35,842
67, 224
50,498
51, 548
344, 707
50, 038
201,387
58, 241
282, 733
76, 017
833, 221
297,133
87, 299
74, 016
47,363
264, 224
97,130
357,977
71,372
58, 529
77, 534
164,452
164, 900
109,728

$29,390
36,698
37,211
131,675
108, 091
36,803
3,522
7,077
18, 565
50, 992
99, 454
112, 364
17,889
16, 863
50,848
108,109
312, 310
152, 492
20, 863
45. 328
3,109
125, 702
17, 444
1,284, 087
278, 225
27,130
57,344
18,856
21,140
14,157

$25,000
75,000
40,000
50,000
65,000
60, 000
25,000
25, 000
35, 000
25, 000
75, 000
40, 000
25,000
50, 000
100, 000
60, 000
300, 000
75, 000
25, 000

231, 640
90, 751
181, 300
152,343
225, 236
105, 664
67, 500
131,765

320,876
97, 738
116, 219
504, 763
214, 643
99,147
1, 337, 085
433,357

143,383
86, 930
44,739
200 W7
102, 413
166, 441
2, 271, 292
551, 491

2,797,972
34S 053
153, 794
1,020,533
242, 774
93, 395
132, 278
23,120
1,883, 750

2, 820, 497
27, 599
133, 845
843,931
120, 621
181, 730
184, 316
34, 286
186, 081

122, 629
78,105
66, 588
33, 340
209, 287
76, 607
100, 759
728, 525
62, 562
81,215
510, 551
89, 453
85, 653
95, 679
157,173
69, 229
258,131
234, 591
785 464
86, 664

145, 815
240, 590
89, 377
9,824
93, 641
146, 581
75, 474
286, 488
13, 671
114,117
212, 738
120, 273
200, 411
97,131
66, 323
417, 626
25, 546
66, 923
146. 527
114,512




Total
assets
and
stock
assessment

Cash
collected
from
assets

Cash
collected
from
stock
assessment

25,000
100, 000
30,000
500, 000
100, 000
25, 000
55, 000
200, 000
50, 000
25,000

$266,154
499,168
592, 603
800, 904
2,228, 872
499, 613
163, 732
199,326
199,319
293, 889
1, 828, 863
385, 204
432, 720
450, 368
1, 269, 273
558,732
5,226, 591
1, 066, 877
344, 281
424, 371
113,178
1,438, 458
313, 893
7,119, 256
1,370, 544
310, 034
595, 562
1,099, 855
750,402
260, 319

$92, 710
151,936
213,461
349,697
784, 753
256, 746
43, 521
69,372
61,211
104, 246
1,070, 830
103, 485
153, 707
80,067
528, 026
241,752
2, 267,177
510, 591
104, 507
125, 510
41, 054
662, 394
141,380
3,467, 615
517, 238
166, 991
269, 681
514,515
314, 022
100, 629

$5,000
28,924
5,940
24,049
16,850
32,209
1,950
3,612
16, 545
9,808
16, 981
35, 672
2,548
15, 686
29,192
16,920
163, 991
19,882
7,660
7,150
2,048
300
6,537
346, 314
78,359
14,970
30, 806
96,720
18, 900
14,150

129, 603
28, 976
21,205

25, 000
25, 000
35, 000

850,502
329, 395
398,463

389,446
148, 879
200,522

5,961
10, 830
14, 200

58, 722
26,181
314 *>*>
103? 484

25, 000
25, 000

259, 018
179, 549
1,131, 523
582,904

8,750
9,436

75, 000

620, 014
422, 433
3,990,176
1, 295, 097

17,865

535,842
76,034
35,202
75,833
29, 402
45, 246
503, t66
188, 481
182, 201

680, 470
4,422
17, 210
78,017
20, 578
60,111
54, 474
4, 136
323, 770

200, 000
25, 000
25, 000
100,000
50, 000
25, 000
50, 000
25, 000
150, 000

7, 084, 781
167,108
365, 051
2,118, 314
463, 375
405, 482
924, 734
275, 023
2, 725, 802

3, 294,875
71, 733
185, 225
1,078,194
206, 094
285,878
299, 231
93, 253
1, 765, 388

70, 341
3,168
18, 428
57, 500
34, 661
25,000
14, 443
9,797
147, 284

72, 866
85, 639
35,107
13, 401
69, 001
99, 673
113,448
450, 521
20,157
86, 533
80, 493
23, 857
129,161
68, 283
46,307
370, 429
99, 817
75,618
86, 087
105, 880

12, 444
33, 373
7,067
2,909
44, 755
21, 048
27, 547
114,332
4,403
4,935
57,119
20, 633
29,053
30, 425
24S 889
30,528
25,193
86,526
84, 972
10, 827

100, 000
50, 000
30,000
25, 000
35,000
25, 000
25, 000
100,000
25, 000
100,000
50, 000
25, 000
50, 000
50, 000
50, 000
30, 000
50, 000
50, 000
25, 000
25, 000

453, 754
487, 707
228,199
84, 474
451, 684
368, 909
342, 228
1, 679, 866
125, 793
386, 800
910. 901
279, 216
494, 278
341, 518
344, 692
917, 812
458, 687
513, 658
421, 050
342, 883

164, 543
253, 436
85, 710
31, 039
148,358
118, 787
130, 657
528, 751
42, 298
110, 261
362, 784
132,823
150, 080
127, 313
183, 339
253, 845
210,041
334, 436
196, 730
152, 265

48, 621
47, 236
8, 575
17, 923
327
6,455
18, 042
77, 519
2,363
47,900
30, 500
7,831
21,026
21, 626
18, 664
12,541
5,550
37, 545
3,969

j
!
i
1

50; ooo

17,000

777
778
779
780
781
782
783
784
785
787
789
791
794
796
797
798
799
802
803
804
805
806
807
808
810
811
812
813
814
815
816
817
818
819
820
822
823
824
827
829
830
831
832
833
835
836
837
838
839
840
841
842
843
845
846
847
850
851
852
853
855
856
857
858
859
860
861
862
868
864

260

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.
Disposition of proceeds
of liquidation

Progress of liquidation to date of this report

Offsets
allowed
and
settled

777
778
779
780
781
782
783
784
785
787
789
791
794
796
797
798
799
802
803
804
805
806
807
808
810
811
812
813
814
815
816
817
818
819
820
822
823
824
827
829
830
831
832
833
835
836
837
838
839
840
841
842
843
845
846
847
850
851
852
853
855
856
857
858
859
860
861
862
8G3
864

Total
collected
from all
sources,
including
offsets

Loss on
Remaining Assets
assets compounded Remaining uncollect- returned
uncollected ed stock to shareor sold
assessholders'
under
assets
ment
agents
order of
court

$12,649
10,191
14,038
5,321
83,887
39,077
4,586
4,964
8,672
22, 032
154,185
38,023
5,703
1,008
89, 492
48, 520
507, 764
62,804
12, 838
5,418
525
97, 573
2,783
536, 259
31, 312
15,424
24,777
27,102
43, 315
5,800

$110,359
191,051
233,439
379,067
885,490
328, 032
50, 057
77,948
86,338
136, 086
1, 241,996
177,180
161, 958
96, 761
646, 710
• 307,192
2,938, 932
593, 277
125, 005
138, 078
43,627
760, 267
150, 700
4,350,188
626909
,0
197, 385
325, 264
638, 337
376, 237
120, 579

34,321
18, 357
53, 849

429, 728
178, 066
268, 571

$18,786
97,311
325,104
38,903
78, 213
62,467
1,460
20,103
410
41, 619
128,100
203,696
47, 248
18, 086
153, 384
69,866
387, 568
270, 514
22, 403
102, 353
30,966
220, 279
43,195
2, 615, 382
119,688
5,583
52,998
46, 836
89,962
7,416
129, 359
34, 267
109, 092

57, 723
24, 448
17, 821

325, 491
213, 433
1,131, 523
618, 590

225,165
193, 436
1, 078, 085
234, 399

586, 771
3,630
22, 266
177, 516
12, 701
27,260
36, 890
1,106
182,235

3,951, 987
78, 531
225, 919
1, 313, 210
253, 456
338,138
350, 564
104,156
2,094, 907

30,117
15,477
5,140
1,053
15,648
23, 595
20, 769
26, 582
16, 957
5,853
29,007
18,800
10, 370
7,084
31,068
27, 674
51, 630
50, 351
24, 538
17,379

243,281
316,149
99, 425
50, 015
164, 333
148,837
169,468
632, 852
61, 618
164, 014
422, 291
159, 454
181, 476
156,023
233, 071
294, 060
267, 221
422, 332
225, 237
186, 634




$117,009
164,730
356~983
1,217,019
81,323
89,165
79,887
94,026
100,992
400, 748
201, 062
301, 207
398, 371
138, 594
1,764, 082
147, 968
179, 533
141, 090
15, 633
358, 212
96, 535
602, 306
97, 036
193,106
311, 402
253,103
121, 474

Dividends
paid

Secured
and preferred
liabilities,
including
offsets
paid

$13,303
29,358
61, 253
81,496
124,823
106,354

$73,607
114, 263
143,560
254,873
630,075
134,345
39,425
8,482
48,199
17, 686
40,397
11,401
102,819
987,109
166,877
74,115
86, 593
55, 079
74, 466
63,944
219, 676
307, 464
136, 252
119, 814
1,163, 441 1,482,287
321, 722
226,190
20,343
72, 897
33,924
73,159
36,148
287, 003
390, 576
82, 315
33,929
1, 668, 360 2,491, 015
185, 627
322, 642
97, 454
82, 431
110, 695
155, 099
327, 812
225, 369
174, 084
111, 756
7,529
92, 626

$20,000
46,076
34,060
25.951
48,150
27, 791
23,050
21,388
18, 545
15,192
58,019
4,328
22,452
34, 314
70, 808
43, 080
136, 009
55,118
17, 340
42, 850
22.952
99,700
23, 463
153,686
21, 641
10, 030
24,194
103, 280
31,100
10, 850

272, 376
102, 892

19, 039
14,170
20, 800

176, 095
57, 422
140,290

176, 333
89, 755
87,701

59, 108

16, 250
15,564

110,958
45, 867

156, 574
145, 781
1, 067,946
371, 656

1, 780, 568
384,973

57,135

766, 452
8,783
21,095
88,807
34,951
67, 344
402,289
103, 339
5,017

2, 236, 683
57,962
111, 465
673, 797
159, 629

129, 659
21,832
6,572
42,500
15, 339

136, 324
52, 325
623,162

35, 557
15,203
2,716

14, 665
168, 794
33, 758
8,896
121, 693
8,497
21, 472
196,403
3,501
126, 795
89, 621
5,126
27, 379
25,254
80,159
62,468
10, 093
27,113
174, 782
36, 495

144, 429

51, 379
2,764
21,425
7,077
34,673
18, 545
6,958
22,481
22, 637
52,100
19, 500
17,169
28, 974
28, 374
31, 336
17,459
44, 450
12,455
21,031
8,000

73, 591
130, 985
193,030
144, 330
828,130
38, 037
43, 891
379, 489
97,467
256, 449
131, 867
126
543, 825
136, 923
51,758

98,166
1, 871,407
11, 791
126, 641
810,495
35,909
279,283
47,400
1,306,066

$18,486

115,771
74,770
11,460
22,186
47, 552
125, 798
25, 479
109, 246
162, 670
45,184
51, 346
118, 913
38, 617
137, 579
240, 563
23, 295
119,794

1,844,999
47, 403
66,535
322, 835
166, 670
39, 537
276, 312
85,063
535,806
104, 465
219,663
60,181
14,494
134,204
118, 710
79, 761
370, 381
25, 607
11,416
164, 915
124, 270
110, 726
87, 945
57,053
193, 507
87,400
117,246
170, 381
47,999

REPORT OP THE COMPTROLLER OP THE CURRENCY

261

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation

Cash
advanced
in protection
of assets

$145
8,418
2,602
4,389
24,985
4,865
600
1,563
1,753
1,446
15,201

Receiver's
salary,
legal, and
other
expenses

Cash in
hands of
comptroller
and
receiver

Amount
returned
to shareholders
in cash

Dividends
(per
cent)

3,149
4,482
17,961
468
3,786
2,765
135
7,426
11
800
6,092
22,176
1,910
1,367
2,731
15,124
10, 822
1,240

$13,660
26,996
26,024
25, 277
57, 561
36, 858
7,577
14,870
15, 553
14,496
62,429
16,472
22, 370
14, 219
40,835
28,136
103, 272
30. 822
15, 051
17,154
7,140
43, 269
22, 389
168, 637
28,554
14, 313
27, 309
38, 654
22,043
14, 783

2,616
1,649
728

33, 941
20, 811
22,407

40, 743
8,429
17,445

466, 664
164,060
216,635

2,997
176
48
29, 739

20,186
21, 609
54,978
60,112

34, 776

394,896
224, 314

27
18.6

8,551
58,917

981,665

106, 233
12,916
22,409
62, 543
17, 358
19, 263
21, 574
8,720
61,988

122, 743
5,757
6,647
109,422
32,130

22,204
21, 652
15, 763
8,767
11, 270
16, 792
26, 025
39, 511
9,542
10, 302
32, 516
12, 411
12, 666
9,369
22, 277
27,995
21,953
18,327
18, 028
13, 050

841

Finally
closed

10

6,605
664
3,687
7,915
1,389
55
587
91
58

Interest
dividends
(per
cent)

35
35
65

64
723
" 357
585
2,143
9,786
1,071
6,943
3,251
296
797
1,899
420
1,646
98
48




$9,644
12,016

Amount
of claims
proved

$166,419
8
293, 582
10
17.2
353,458
15
542, 201
1,569, 725
8
212, 549
50
92, 053
84,818
10
50, 616
35
114, 905
10
73
1,352,197
145,004 45.75
20
275, 397
319, 247
676, 202
30
227, 086
60
2,819; 194
40
712, 017
60
10
195, 595
16.67
204, 082
41, 377
712,819
40
205, 781
40
3, 090, 740 48
465, 258
40
139, 274
70
368, 593
30
468, 321
70
496, 744
35
150, 597
5

13, 032
48,046
45, 610
2,455
4,834
10, 949
5,924
10,380
6,894
14,116
60, 774
22, 522
186,146
11, 778
16, 579
6,415
328
38, 619
5,975
88,176
1,820

29, 430
31, 378
57, 532
4,401

4,349,813
62,033
210,983
1,350,833
163, 702
324, 753
630, 860
210,430
1, 835, 373

4,691
10, 282
190,989

12,021
18, 502
12, 750
13,987
87, 376
990
31, 979
55,247
19,522
12, 604
6,566
32,929
33, 521
18,643
46 098
13, 533
5,743

$3, 845

144, 781
135,954
114, 764
19, 790
270, 847
234, 220
217,800
1,249,989
46, 446
145, 661
650,771
181,951
288, 024
165, 556
237, 573
725, 257
229, 347
343, 640
233, 568
239, 592

July 31,1927

May

2,1927

Feb. 28,1927

M a r . 31,1927

45
20
60
60
25
86
7.5

Sept. 30,1927

70
80
55
10
100
20
10
55
75
25
15
30
50
5
60
70
10
50

Sept. 30,1927
12.1

Feb. 1,1927

777
778
779
780
781
782
783
784
785
787
789
791
794
796
797
798
799
802
803
804
805
806
807
808
810
811
812
813
814
815
816
817
818
819
820
822
823
824
827
829
830
831
832
833
835
836
837
838
839
840
841
842
843
845
846
847
850
851
852
853
855
856
857
858
859
860
861
862
863
864

262

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 81, 1927—Con.

Title and location of banks

866
867
870
871
872
873
874
875
876
877
878
879
880
881
882
883
884
885

890
891
892
893
894
895
896
897
898
899
901
902
903
904
905
906
907
908
909
910
911
912
913
914
915
916
917.
918
919
920
921
922
923
924
925
926
927
928
929
930
931
932
933

Date of
organization

Capital
stock at
suspension

First National Bank, Spring Hope, N. C
Stockmans National Bank, Columbus, Mont
First National Bank, Alexandria, Minn_
__.
First National Bank, Townsend, Mont
First National Bank, Rigby, Idaho
_
Peoples National Bank, Hot Springs, S. Dak
First National Bank, Sylvester, Ga
First National Bank, Salem, S. Dak_
_
Jefferson County National Bank, Rigby, Idaho i
Neoga National Bank, Neoga, 111First National Bank, Mohall, N. Dak._
First National Bank, Excelsior Springs, Mo.
Logan County National Bank, Sterling, Colo
First National Bank, Buena Vista, Ga
First National Bank, Hampton, Ga
Perry National Bank, Perry, Iowa
Farmers National Bank, Hempstead, Tex
...
First National Bank, Crystal, N. Dak
The National Bank of Abbeville, Abbeville, S. C
Commercial National Bank, Charleston, S. C
First National Bank, Quincy, Fla
National Bank of Commerce, Pierre, S. Dak
Black Hawk National Bank, Waterloo, Iowa*
Lebanon National Bank, Lebanon, Tenn
First National Bank, Shelley, Idaho
First National Bank, Brinsmade, N. Dak
First National Bank, Atwater, Minn
First National Bank, Renville, Minn..
First National Bank, Idabel, Okla
First National Bank, Pleasantville, Iowa
First National Bank, Cavalier, N. Dak
First National Bank, Stevensville, Mont
First National Bank, Wapanucka, Okla
First National Bank, Matoaka, W. Va
City National Bank, Clarksville, Tex
First National Bank, Montpelier, Idaho
First National Bank, Buhl, Idaho
First National Bank, Lemmon, S. Dak
Commercial National Bank, Greenville, Tex
Farmers National Bank, Chandler, Okla
First National Bank, Bamberg, S. C
First National Bank, Bandon, Oreg
Georgia National Bank, Athens, Ga__
Osceola National Bank, Osceola, Iowa
First National Bank, Wimbledon, N. Dak___
First National Bank, Hedrick, Iowa*
First National Bank, Jasper, Minn
_
First National Bank of Las Vegas, East Las Vegas,
N. Mex.
First National Bank, Conyers, Ga
Hugo National Bank, Hugo, Okla
First National Bank, Carnegie, Pa
Burgettstown National Bank, Burgettstown, Pa
First National Bank, Selma, N. C
First National Bank, Madison, S. Dak
Farmers National Bank, Louis burg, N. C
First Natiinal Bank, Florence, S. C.._
First National Bank, Clear Lake, S. Dak
First National Bank, Crandon, Wis.
City National Bank, Hugo, Okla—_
.-First National Bank, Springer, N. Mex
Merchants National Bank, Detroit Lakes, Minn
First National Bank, St. Cloud, Minn
First National Bank, Simla, Colo—
First National Bank, Abercrombie, N. Dak
First National Bank, Wausa, Nebr
First National Bank, Redwood Falls, Minn
First National Bank, Lumberton, N. C
First National Bank, Walters, Okla

May 6,1919
July 12,1918
June 9,1883
Jan. 31,1911
June 13,1919
May 23,1908
Mar. 11,1902
July 5,1901
June 9,1919
July 11,1905
Sept. 17,1903
May 5,1905
Oct. 11,1905
Oct. 12,1905
July 13,1911
Jan. 2,1912
Apr. 5,1893
Sept. 12,1905
Oct. 16,1885
May 5,1914
May 4,1904
Feb. 13,1890
Apr. 17,1903
Apr. 13,1907
July 15,1919
Dec. 11,1906
June 15,1914
Dec. 19,1902
Dec. 10,1906
Aug. 2,1900
Nov. 24,1911
Feb. 4,1915
Aug. 8,1901
Nov. 7,1918
Oct. 8,1914
Aug. 9,1904
Aug. 10,1917
Oct. 16,1908
Nov. 24,1904
Nov. 25,1921
Apr. 19,1920
Feb. 25,1910
Oct. 14,1902
Oct. 8,1901
Feb. 7,1903
Aug. 11,1900
Oct. 7,1902
Aug. 25,1879

$50,000
50,000
60,000
50,000
80,000
25,000
50,000
25,000
50,000
25,000
25,000
25,000
150,000
50,000
50,000
75,000
50,000
25,000
75,000
200,000
100,000
100,000
200,000
80,000
25,000
25,000
25, 000
25,000
80,000
25,000
25,000
25,000
25,000
50,000
200,000
50,000
100,000
50,000
150,000
25, 000
45,000
25,000
400, 000
25,000
25,000
25,000
30, 000
200,000

Jan. 7,1925
do
Jan. 8,1925
do
Jan. 12,1925
Jan. 15,1925
do-_-__-.
Jan. 16,1925
Jan. 17,1925
Jan. 21,1925
Jan. 22,1925
Jan. 24,1925
Jan. 26,1925
do
Jan. 27,1925
Feb. 5,1925
Feb. 7,1925
do
do
do
Feb. 11,1925
do
Feb. 13,1925
do
____do
do
Feb. 14,1925
do
Feb. 18,1925
Feb. 21,1925
do
Mar. 2,1925
___do

Sept. 3,1918
Apr. 11.1905
May 16,1892
Jan. 25,1879
May 7,1915
Mar. 29,1884
Aug. 1,1912
Mar. 23.1910
June 28.1902
Mar. 16,1909
Feb. 10,1922
Oct. 18,1919
Feb. 9,1906
Sept. 25,1882
May 10,1919
Aug. 25.1906
Mar. 27.1911
Mar. 11,1901
July 21,1904
Jan. 10.1903

75, 000
200,000
100,000
100, 000
30,000
50,000
25,000
150,000
25,000
50,000
100,000
50,000
60,000
250,000
25,000
25,000
75,000
70,000
50,000
50,000

May 12,1925
do
do
May 14,1925
May 16,1925
May 21,1925
May 22,1925
doMay 25,1925
May 29,1925
June 5,1925
June 15,1925
June 22,1925
June 24,1925
June 25,1925
June 30,1925
July 9,1925
July 29,1925
Aug. 4,1925
Aug. 6,1925




Receiver
appointed

Mar. 3,1925
Mar. 9,1925
Mar. 13,1925
Mar. 26,1925
Apr. 2,1925
Apr. 6,1925
Apr. 10,1925

___do
-.
Apr. 13,1925
Apr. 17,1925
Apr. 22,1925
Apr. 23,1925
Apr. 24,1925
May 1,1925
May 4,1925

REPORT OF THE COMPTROLLER OF THE CURRENCY

263

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of
suspension

Progress of liquidation
to date of this report
Additional
assets
received
since
date of
suspension

Total
assessment of
share-

Total
assets
and
stock
assessment

Cash
collected
from
assets

Cash
collected
from
stock
assessment

Estimated
good

Estimated
doubtful

Estimated
worthless

$171, 583
39, 730
226,188
26, 919
340,171
73, 979
117, 882
73, 357

$102, 568
75, 311
330, 013
52, 930
342, 625
101,441
105, 566
106, 969

$82, 604
81,382
493,467
105, 961
275,193
96,811
65,803
67, 459

$33,217
26, 535
50, 648
23, 715
110,891
31, 627
29,820
10, 697

$50,000
50,000
60,000
50,000
80, 000
25,000
50,000
25,000

$439,972
272, 958
1,160, 316
259, 525
1,148,880
328,858
369,071
283,482

$206, 032
72,891
533, 477
62, 932
494, 053
116, 712
142, 879
118,442

$42,596
23,153
45, 725
15, 091
46, 577
19,100
20,412
2,858

98, 536
11, 592
132,279
282, 949
108, 643
46, 072
462, 489
121, 388
158, 311
276, 265
231, 376
187, 303
597,405

66,307
60, 558
99, 534
351, 688
44, 232
61, 249
214, 831
126,969
105, 849
153, 733
643, 034
259, 814
223,923

49,126
85,300
19,411
284,520
55, 780
44, 929
172, 325
21,142
76, 571
113,575
486,938
134, 405
351, 952

7,693
6,682
39, 276
55,878
16, 387
21, 795
50, 775
20, 772
20, 599
13, 803
32, 376
40,325
61, 590

25,000
25, 000
25, 000
150, 000
50, 000
50, 000
75, 000
50, 000
25, 000
75, 000
200, 000
100, 000
100, 000

246, 662
189,132
315, 500
1,125,035
275, 042
224, 045
975, 420
340,271
386, 330
632, 376
1, 593, 724
721, 847
1, 334, 870

111,358
45, 741
189, 719
377,083
99,164
47, 862
350, 059
154, 691
119, 564
329,927
334, 643
292,956
678,154

22, 660
2,000
4,903
100, 507
22, 750
30, 816
28, 486
35,496
10,949
49, 520
124,953
64,592
40, 550

19, 861
58, 555
27, 301
105, 342
202, 858
109, 006
98,188
183, 494
34,155
59, 946
566, 624
114,952
77,160
121, 723
308, 378
438,483
113, 950
45, 073
108, 324
1,916, 328
85, 818
39, 580

131, 385
50, 830
128, 634
173, 594
118, 611
156, 439
114, 209
147, 202
102, 570
147, 713
5,820
210, 730
117. 326
92', 454
154, 731
263, 743
153, 301
117, 240
106, 699
743, 757
56, 263
104,974

90, 342
49, 602
12,127
255, 420
148, 063
125, 051
130, 451
72, 374
4,616
130, 586
27
118, 252
382, 089
441,139
147, 372
227,107
101, 382
25,056
53, 555
585, 896
70,156
44, 317

3,359
27,988
24, 517
20, 581
24, 839
8,561
66,942
19, 788
16, 532
19,995
323,992
8,978
60, 553
66, 058
60, 871
127, 650
22, 305
7,095
37,128
282, 573
23, 364
13,176

80, 000
25, 000
25, 000
25, 000
25, 000
80, 000
25, 000
25, 000
25, 000
25, 000
50, 000
200, 000
50, 000
100, 000
50, 000
150, 000
25, 000
45, 000
25, 000
400, 000
25, 000
25, 000

324, 947
211,975
217, 579
579, 937
519, 371
479, 057
434, 790
447, 858
182, 873
383, 240
946, 463
652, 912
687,128
821, 374
721, 352
1, 206,983
415, 938
239, 464
330, 706
3, 928, 554
260, 601
227, 047

47, 344
104, 454
76, 449
166. 605
268; 516
115, 516
162, 880
183, 061
91, 369
83, 235
488, 062
213, 227
333, 638
304, 642
340, 876
526, 837
230,989
61, 096
191, 298
2, 024,427
114, 836
67, 645

66,875
20, 656
1,400
7,700
1,000
27, 438
24,150
19, 600
11, 398
43,465
56,993
42, 318
36, 515
2,925
82,924
7,000
18,135
23,700
292, 865
8,425
17, 962

84, 230
432,119

225, 016
321S 751

206,922
353,190

73,187
65, 798

30, 000
200, 000

619, 355
1, 372, 858

229, 985
467,928

10, 258
93, 318

866
867
868
869
870
871
872
873
874
875
876
877
878
879
880
881
882
883
884
885
886
887
888
889
890
891
892
893
894
895
896
897
898
899
901
902
903
904
905
906
907
908
909
910
911
912
913
914

69, 206
462, 972
1,138, 223
975, 738
165, 454
237, 384
79, 087
1,360, 861
146,042
242, 760
105, 551
183, 276
151, 253
686, 888
44, 506
106, 552
221, 012
88,616
398, 701
94, 835

155, 373
397.029
511, 485
497, 425
104, 954
207, 006
50, 269
87, 000
165, 713
232,165
107, 021
30, 540
273, 838
1,451,826
35, 681
89, 517
253, 375
303, 046
105, 297
138, 374

56, 230
494, 309
317, 405
524,290
29,654
279, 242

14,198
92, 095
98,127
65,482
10,402
37,155
4,888
25, 529
30, 948
35, 662
17, 291
14, 235
30, 928
199,448
2,640
11,085
208, 675
26,403
13, 789
14, 027

75, 000
200, 000
100, 000
100,000
30.000
50; 000
25,000
150,000
25, 000
50,000
100, 000
50, 000
60, 000
250, 000
25, 000
25, 000
74, 700
70,000
50,000
50,000

370, 007
1, 646,405
2,165, 240
25162, 935
340, 464
810, 787
159, 244
1, 832. 363
526, 408
604, 076
497, 434
328, 318
720, 833
2, 986, 210
143, 975
290, 678
1,063, 017
615,131
692, 615
360, 876

85, 406
617, 722
1, 264, 073
1,190, 676
114, 576
240,172
45, 617
1,074, 898
178, 945
242, 810
162, 672
145, 535
277, 316
896,417
65, 872
125,118
306, 338
277,155
410, 624
143, 625

33,402
50, 783
12,171
83, 389
10,147
21,450
9, 275
18, 550
7, 340
25, 569
22, 676
15,300
45,126
151, 630
15,467
8,491
30,832
27, 597
24,300
1,000

915
916
917
918
919
920
921
922
923
924
925
926
927
928
929
930
931
932
933
934

71284°—2S




208, 973
158, 705
43,489
167, 571
50, 26-7
204, 814
398,048
36,148
58, 524
305, 255
127, 066
124,828
63, 640

holders

264

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.
Progress o* liquidation to date of this report

Offsets
allowed
and
settled

866
867
868
869
870
871
872
873
874
875
876
877
878
879
880
881
882
883
884
885
886
887
888
889
890
891
892
893
894
895
896
897
898
899
901
902
903
904
905
906
907
908
909
910
911
912
913
914

Total
collected
from all
sources,,
including
offsets

Loss on
assets comRemaining Assets
pounded Remaining uncollect- returned
or sold
uncollected ed stock to shareunder
assets
assessholders'
order of
ment
agents
court

$32,830
3,834
46,499
3,272
22,023
25, 598
1,765
11, 761

$281,458
99,878
625,701
81, 295
562, 653
161, 410
165,056
133, 061

197,233
17, 204
113,130
19,038

17, 324
3,609
26, 676
90, 976
3,036
4,130
36,042
26, 479
2,403
41, 423
60, 586
20, 603
53, 427

151, 342
51, 350
221, 298
568, 566
124, 950
82, 808
414, 587
216, 666
132,916
420, 870
520,182
378,151
772,131

7,984
2,660
16,366
23,711
44, 033
5,821
12, 256
11, 208
5,969
182, 793
23,516
11, 478
5,350
32, 014
75, 562
15,927
1,007
22, 767
345, 701
4,049
7,915
20,532
125, 829

$785

Disposition of proceeds
of liquidation

Dividends
paid

Secured
and preferred
liabilities,
including
offsets
paid

19, 326

$150, 325
146, 233
323,107
126,117
439, 674
142, 510
174, 427
108, 953

$7, 404
26,847
14, 275
34, 909
33, 423
5,900
29, 588
22,142

28, 370
9,443
24, 665
64, 267
5,902
23, 756
78, 230
11, 493
24,413
10, 066
431, 837
5,559
25, 226

64, 610
105, 339
49, 440
442, 709
116,940
98,297
436, 089
97, 608
214,950
175, 960
566, 658
302, 729
478, 063

2,340
23,000
20,097
49,493
27, 250
19,184
46, 514
14, 504
14,051
25,480
75, 047
35, 408
59,450

114, 219
133, 094
80,509
190, 671
293, 227
186,987
192, 851
214, 917
113,975
89 204
,
714, 320
293, 736
387, 434
346, 507
375, 815
685, 323
253,916
80,238
237, 765
66 993
127, 310
93, 522

26,047
74, 537
4,483
72, 675
31,185
50, 709
24, 008
28, 051
35, 904
58, 777
49, 346
112, 660
35, 319
124, 796
121, 853
39,960
21, 498
23,463
23, 258
1,157, 976
51, 687
895

171, 556

13,125
4,344
23,600
17, 300
24,000
52, 562
850
5,400
13, 602
25,000
6,535
143, 007
7,682
63,485
47, 075
67, 076
18,000
26,865
1,300
107,135
16, 575
7,038

119,105
183, 333
44,181
43,606
161, 367
48, 436
8,864
378, 281
96, 079
148, 440
70,048
295, 838
452, 257
145,952
10, 451
109, 211
•1,105, 666
47, 595
71,290

43, 617
54, 535
42, 588
17, 475
61, 098
96, 947
112, 351
12, 331
45, 559
61, 517
282,914
166, 656
184, 071
231,861
33, 525
154, 583
86,680
54,895
104,546
1,375, 598
60,904
8,817

260, 775
687, 075

119, 482
93,940

19, 742
106, 682

73, 832
422, 032

126,162
208, 394

41,598
149, 217
87, 829
16, 611
19, 853
28, 550
15, 725
131,450
17, 660
24,431
77, 324
34, 700
14, 874
98, 370
9, 533
16, 509
43, 868
42, 403
25, 700
49,000

34, 857
330,167
1,041, 596
987, 332
27,126
45, 211
11,517
61, 335
94, 952
86,183
85, 906
58, 071
190, 955
208, 363
48, 581
91, 509
83, 788
224, 629
200,640

67, 584
416, 696
210, 792
135, 733
88, 532
182, 903
41, 227
1,062, 496
70, 778
128,188
92, 742
101, 564
79, 298
647, 815
26,132
11,232
217, 452
67, 906
189, 774
127, 111

108,987
299,291
170,959
188, 799
217, 081
199, 490
19, 392
210, 259
176, 262
103, 509
256, 693
286, 586
176, 609
414, 624
122, 524
108 898
,
68,383
450
65,029
125, 592
219,356
485,161
155,123
547, 204
623, 798
720, 512
177, 544
487, 796
72,166
438, 236
284,158
253, 996
163, 600
109, 968
305, 774
1, 724, 621
27, 730
122, 238
306, 521
219, 440

121, 504
51, 782
2,696
799, 719
150, 265
131, 214
1,367,013
86/600
90, 769
1,337, 234
63,169
88, 578
143, 067
18, 344
272, 047
10,425
22, 394
16,461
71, 353
73,122
96,107
1,189, 555
29,195
195, 395
9,110
19, 387
306, 262
37, 883
200, 570
55, 940
15, 222
175, 937
7,713
15,102
349, 445
50, 740
27, 003
19,360
95, 812
1,143, 859
89, 915
16, 797
8,576
144, 781
7,150
11,172
375, 260
337, 368
38, 090
324,142
29,146
19, 390
461, 698
205, 217
26, 774
147,132
107,128
57, 616
2,507
" Including dividends paid b y purchasing bank.

915
916
917
918
919
920
921
922
923
924
925
926
927
928
929
930
931
932
933
934




$162,535
20,781
332,835
36,076
64, 726
87, 330
17,600
38 268

$65, 547
49,181
145,833
25, 238
400, 053
39, 799
122, 639
68, 415

57,807

68, 695
28, 301
28,454
279,157
69,486
41, 675
169, 265
54, 790
52,064
54,060
194,928
159,875
79, 033

116,112

226, 414
29,912
25,803
153, 721
132, 022
53, 052
314, 581
211, 266
163,853
292, 265
65,000
67, 067

KEPORT OP THE COMPTROLLER OF THE CURRENCY

265

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation

Cash in
Amount
hands of
comp- * returned
to sharetroller
holders
and
in cash
receiver

Amount
of claims
proved

Dividends
(per
cent)

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$1, 232
29
32,334
1,334
10,823
1,321

$28,461
16,929
31, 601
11,175
28, 572
18, 452
8,727
15, 650

$23, 683
12,958
83,098
7,472
58, 479
14, 508
16,090
10, 539

$248,960
138, 903
832, 300
72,153
647, 206
158, 769
176, 006
153,161

8,178
12, 067
56, 726
14,939
3,854
3,330
46,265
4,111
4,106
23,141
51, 518
19,455
301,243

115,631
102, 880
232, 254
452, 708
78, 482
86, 593
615, 222
175, 708
279, 863
393, 230
905, 963
321, 285
993, 341

50

1,708

6,412
21, 613
34
126
826
93, 050
319
1,483

3,733
11, 490
7,577
18, 724
16, 367
26, 303
18, 333
22, 366
11, 083
12, 706
27,176
20, 707
23, 388
16, 339
22, 876
52, 345
18, 421
8,624
15, 516
65,447
11, 951
10, 503

30, 321
34,095
28,705
9,877
18,396
10,706
8,883
4,894
24,172
10,290
31,067
28,259
17,164
4,525
2,829
6,142
7,666
23,232
6,541
1,429

38,191
79,134
114, 993
476, 422
366, 533
220, 903
210, 775
358, 608
76, 461
186, 447
495, 900
90, 353
303,105
305, 323
537, 761
670,115
247, 788
96, 071
141,155
1,080,091
133, 542
158, 432

25
50
30
20
45
63
5
75
100
45
15
55
65
55
10
70
10
30
45

4,873

16, 857
40, 663

43, 924
11,113

356, 809
703, 397

20
60

11, 905
30, 050
41, 765
41, 089
19, 837
20, 383
11,971
23, 528
14, 057
32, 751
13, 001
12,101
21, 228
43, 681
8,273
8,620
19, 976
21, 975
13, 666
9,816

6,779
14, 396
71, 441
170,881
6,939
9,294
6,638
29, 432
14, 991
58, 588
7,548
361
55, 515
105, 819
6,717
29, 744
54, 027
8,911
57, 618
10,152

170, 240
723, 498
1, 490,190
1, 645, 080
180, 987
573, 315
59, 816
409, 010
357, 686
351, 041
199, 778
114,142
477, 464
2, 014, 934
64, 948
228, 808
548,083
375,179
366, 213
205, 744

20
40
70
70
15
8
20
15
25
25
43
50
50
10
75
40
15
60
55

Finally
closed

60
15
40
50
10
55
10
25

14, 469
10, 884
20,006
40,980
19,251
11,835
34, 663
21, 402
14, 548
19, 792
45,186
19, 934
60,142

Interest
dividends
(per
cent)

189
2,193
98
7,076
2,447
165
10, 673
4,341
9,146
9,296
17,284
15, 034
39, 448
161
2
23
1,272
3,724
9,679
165
8,147
14
1,223
1,777
4
468

379
8,410
1,419
2,199
633
14,256
7,764
617
552
1,373
3,840
2,449
138,181
212
3,676
17
721
53




50
50
30
30
25
75
20
80
20
50
40
81.25
79

A u g . 31,1927

.0634

866
867
868
869
870
871
872
873
874
875
876
877
878
879
880
881
882
883
884
885
886
887
888
889
890
891
892
893
894
895
896
897
8Q8
899
901
902
903
904
905
906
907
908
909
910
911
912
913
914
915
916
917
918
919
920
921
922
923
924
925
926
927
928
929
930
931
932
933
934

266

EEPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—National

banks in charge of receivers, dates of

organization,

assets, amounts collected front" all sources, loans paid and other disbursements,
remaining assets returned to shareholders to year ended October 31, 1927—Con.

Capital
stock at
suspension

Title and location of banks

935
937
938
939
941
942
943
944
945
946
947
948
949
950
951
952
964
955
956
957
958
959
960
961
962
963
965
966
967
970
971
972
973
974
975
976
977
978
979
980
981

987
990
991
992
993
994
<>95
996
997
998
999
1000
1001
1002
1003
1

Date of
organization

First National Bank, Lake Park, Minn
First National Bank, Devol, Okla
First National Bank, Dell Rapids, S. Dak...
Globe National Bank, Denver, Colo
First National Bank, Warren, Minn
First National Bank, Winifred, Mont
First National Bank, Hallock, Minn
First National Bank, Buffalo, Minn
Manilla National Bank, Manilla, Iowa
Loveland National Bank, Loveland, Colo
Winner National Bank, Winner, S. Dak
Muskogee Security National Bank, Muskogee, Okla..
Corona National Bank, Corona, Calif.1
First National Bank, Forest City, Iowa
Davenport National Bank, Davenport, Wash
First National Bank, Pasco, Wash___
First National Bank, Howard, S. Dak
Gregory National Bank, Gregory, S. Dak
First National Bank, Hardin, Mont.2
First National Bank, Sac City, Iowa
First National Bank, Brooklyn, Iowa
Warren National Bank, Warren, Minn
First National Bank, Covington, Ga
First National Bank, Delano, Minn
First National Bank, Creston, Iowa L
Farmers & Merchants National Bank, Cannon Falls,
Minn.
Farmers National Bank, Lake Preston, S. Dak
First National Bank, Jefferson, Iowa.
Drovers National Bank, Denver, Colo__
First National Bank, Rifle, Colo
Home National Bank, Cleburne, Tex
First National Bank, Riverbank, Calif
First National Bank, Malta, Mont
Security National Bank, Mason City, Iowa
Glasgow National Bank, Glasgow, Mont
National Bank of Luverne, Luverne, Minn
First National Bank, Greensboro, Ga
Broadway National Bank, Denver, Colo
First National Bank, Tama, Iowa
First National Bank, W auk on, Iowa
First National Bank of Gilmore, Gilmore City, Iowa_.
First National Bank in Pocahontas, Iowa
Cando National Bank, Cando, N. Dak
First National Bank, Oroville, Wash
First National Bank, Ada, Minn
National Bank of Wessington Springs, Wessington
Springs, S. Dak.
Farmers National Bank, La Moure, N. Dak
First National Bank, Estherville, Iowa
Stoekmens National Bank, Brush, Colo
Liberty National Bank of South Carolina at Columbia,
S.C.i
First National Bank, Pagosa Springs, Colo
First National Bank in Kiefer, Okla
First National Bank, Marion, N. Dak
Spirit Lake National Bank, Spirit Lake, Iowa
First National Bank, Deep River, Iowa
First National Bank, Blue Mound, 111
First National Bank, Intake, Mont
First National Bank, Frankfort, S. Dak
Moline National Bank, Moline, Kans
First National Bank, Fulton, Mo
First National Bank, Shenandoah, Iowa
First National Bank, Cambridge, Iowa
First National Bank, Oktaha, Okla
First National Bank, Granada, Minn
Citizens National Bank, Wayne, Nebr
First National Bank, Noblesville, Ind

Feb. 10,1904
Nov. 4.1919
Apr. 21,1886
Feb. 5.1920
May 18,1901
May 17.1917
Aug. 5,1903
June 7,1917
Nov. 12.1901
Feb. 14,1906
Sept. 20.1921
Nov. 8,1922
Oct. 23.1906
Feb. 20,1893
Dec. 22,1904
Aug. 22.1908
Nov. 29.1902
Mar. 23.1909
July 20,1908
Oct. 6,1890
Dec. 22,1884
Dec. 28.1918
Oct. 28.1907
Nov. 23.1910
Oct. 22,1881
Feb. 14.1903
July 20,1915
Mar. 2f, 1906
Dec. 18.1919
Dec. 5.1901
June 17,1915
June 26,1913
Mar. 28,1910
July 16,1913
Feb. 19,1907
Dec. 4,1907
Aug. 1,1903
Aug. 22.1922
Aug. 5,1871
Apr. 22,1893
Dec. 2.1902
May 12,1924
July 16.1904
June 2,1906
Apr. 13,1900
Nov. 17,1924

$25, 000
25,000
60,000
200,000
50,000
25,000
60,000
50,000
25,000
100,000
60, 000
200, 000
25,000
75,000
100,000
50, 000
50,000
50,000
65, 000
50,000

Mar.
Jan.
Dec.
Feb

1,1910
23,1892
22,1906
10,1910

50,000 Feb. 25,1926
100,000 Feb. 27,1926
35,000 Mar. 1,1926
500,000 Mar. 4,1926

Oct.
July
Apr.
Dec.
Mar.
Aug.
Nov.
Dec.
Aug.
Aug.
May
Oct.
May
Feb.
Aug.
Mar.

4,1920
15,1922
30.1908
12.1905
14,1903
19.1909
29,1916
26,1914
31.1906
7,1906
5,1877
25.1907
13,1911
5,1920

25,000
25, 000
25,000
50, 000
25,000
25,000
25,000
25,000
50, 000
100,000
50, 000
80,000
25,000
25,000
60,000
62,500

Receiver appointed to complete unfinished liquidation.




1,1893

50; ooo
50,000
50,000
25, 000
50,000
25,000
25,000
50,000
200,000
50,000
100,000
25,000
60,000
100, 000
75,000
25,000
50,000
200,000
75, 000
100, 000
25,000
75,000
25,000
50,000
50,000
25,000

Receiver
appointed

Aug. 24,1925
Sept. 17,1925
Sept. 26,1925
Oct. 1,1925
Oct. 10,1925
Oct. 15,1925
Oct. 16,1925
Oct. 17,1925
Oct. 20,1925
Oct. 22,1925
Oct. 24,1925
N o v . 7,1925
N o v . 10,1925
N o v . 14,1925
N o v . 17,1925
N o v . 21,1925
N o v . 24,1925
N o v . 25,1925
N o v . 27,1925
Dec. 2,1925
Dec. 4,1925
Dec. 5,1925
Dec. 8,1925
Dec. 12,1925
do
Dec. 17,1925
do
Dec. 23,1925
Dec. 24,1925
do
Dec. 28,1925
do__
do
Dec. 29,1925
do
Dec. 31,1925
Jan. 9,1926
Jan. 16,1926
Jan. 18,1926
do
do__
Jan. 30,1926
Feb. 6,1926
Feb. 8,1926
Feb. 10,1926
Feb. 23,1926

Mar. 6,1926
Mar. 13,1926
Mar. 19,1926
Mar. 23,1926
Mar. 25,1926
Mar. 27,1926
Apr. 7,1926
Apr. 12,1926
.do.
Apr. 24,1926
May 13,1926
May 22,1926
May 26,1926
May 29,1926
June 2,1926
June 3,1926

REPORT OF THE COMPTROLLER OP THE CURRENCY

267

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of

Progress of liquidation
to date of this report

suspension
Additional

Estimated
good

Estimated
doubtful

Estimated
worthless

assets
received
since
date of
suspen-

Total
assessment of
sharenoiQ6rs

Total
assets
and
stock
assessment

Cash
collected
from
assets

Cash
collected
from
stock

assessment

$74, 204
19, 910
175,450
2,539, 757
70, 957
24, 780
108, 822
201, 553
50,137
211,496
39, 059
1,619, 895

$189, 398
87, 930
187, 071
1, 397, 671
306,034
51, 206
289, 048
394, 798
83, 259
358,406
74,124
420, 098

$71,312
3,699
217,830
962, 987
198, 315
28,634
93,098
168, 962
55, 521
115, 259
36,131
568, 726

$38,308
27,987
19, 331
264,853
20, 731
4,063
24, 659
41, 636
5,948
120,821
5,247
208, 228

$25, 000
25,000
60, 000
200,000
50,000
25, 000
60, 000
50, 000
25, 000
100,000
30,000
200,000

$398, 222
164, 526
659, 682
5, 365, 268
646,037
133, 683
575, 627
856, 949
219, 865
905,982
184, 561
3,016, 947

$145,574
52,021
315, 229
2, 383, 971
118,652
27,338
139, 973
430, 718
78, 382
340, 772
41, 547
1,827,439

$12,609
13,834
41,000
82, 021
19,126
1,000
37,800
11, 950
10, 200
90,337
10, 591
127, 085

86,914
276, 703
195,123
217, 976
249, 092

410,152
234,168
132,489
190,132
193, 265

237, 764
171, 526
115, 706
51, 464
17, 215

43, 642
22, 071
67, 801
20, 366
33,182

75, 000
100, 000
50, 000
50, 000
50, 000

853,472
804,468
561,119
529, 938
542, 754

262, 852
300, 801
269, 554
171, 859
152, 037

22,470
92, 667
10, 600
20, 841
14,300

178, 986
206, 238
75, 744
130, 580
62, 348
199,473
83, 583

260, 317
327, 604
322, 513
73,816
169, 269
205,437

233, 473
267, 819
74, 285
68, 220
54,652
141,956
76,179

26, 947
41, 996
33, 098
3,438
17,139
44, 898
9,548

50,000
50, 000
50, 000
50, 000
25, 000
50,000
25,000

749, 723
893, 657
555, 640
326, 054
328, 408
421,327
399, 747

306,143
362, 229
138,151
102, 279
146, 634
204,091
132, 928

29, 867
35,100
10, 008
34, 324
12, 850
21,900
425

935
937
938
939
941
942
943
944
945
946
947
948
949
950
951
952
954
955
956
957
958
959
960
961
962
963

49, 295
252, 574
431, 353
217, 357
72, 446
10, 692
57, 581
732, 522
63,107
55, 478
185, 389
1,828, 891
631, 380
266, 406
67, 401
112, 945
116, 956
48, 780
110, 663
70, 357

70, 064
133,356
406, 927
71, 808
107, 050
42, 459
155, 426
397, 029
138, 697
408, 302
82,192
293, 071
196, 322
545, 797
96, 762
288, 210
239, 772
63, 616
254, 692
39,433

90, 524
109, 620
687, 548
76,826
83, 757
100, 247
69,166
180, 520
86, 849
159,114
35, 661
441,108
199, 607
153, 382
79, 291
225, 639
72, 261
26,130
140, 919
20, 576

8,134
17,180
38,364
151, 080
30, 272
5,746
3,088
67, 782
43, 424
63,599
18, 230
54, 502
53, 750
31,099
16, 037
32, 806
21, 962
50, 694
73, 858
4,552

25, 000
50, 000
200, 000
50, 000
100, 000
25, 000
60,000
100, 000
75,000
25,000
50, 000
200, 000
75, 000
100, 000
25, 000
75, 000
25, 000
50,000
50, 000
25, 000

243, 017
562, 730
1, 764,192
567, 071
393, 525
184,144
345, 261
1,477, 853
407, 077
711, 493
371, 472
2, 817, 572
1,156, 059
1,096, 684
284, 491
734, 600
475, 951
239, 220
630,132
159, 918

60,127
244,173
453,100
184, 404
97, 474
50, 575
98, 940
819, 034
95,434
206, 563
126,027"
1,425, 511
380, 984
253, 424
96, 579
182, 667
155, 397
65, 769
209, 843
96, 504

7,324
4,000
32, 723
21, 014
23,135
10, 400
8,018
62,152
* 7,935
8,029
25, 487
32, 700
64, 078
61,119
5,617
37, 218
2,500
15, 988
6,783
4,187

964
965
966
967
968
969
970
971
972
973
974
975
976
977
978
979
980
981
982
983

55, 311
368, 560
139, 516
136, 408

106, 003
351, 584
94, 782
59,858

87, 969
63, 229
146, 515
850,888

7,956
115,330
20, 227
22, 009

50, 000
100, 000
35,000
500,000

307, 239
998, 703
436. 040
1,569,163

62,121
353, 663
196, 340
200, 760

32, 680
20, 500
19, 000
352,175

984
985
986
987

47, 695
85, 739
121, 501
290, 605
44, 239
69, 555
5,226
74, 551
128, 900
261, 270
535, 529
259, 692
39, 094
52, 879
209,167
297, 234

47, 420
36, 229
89,000
409, 078
54, 396
48, 942
13, 585
159, 555
131,441
169, 268
377, 004
252, 737
22, 235
47, 411
259, 776
124,043

6,691
61, 567
30, 239
58, 412
34, 882
65,194 «
28, 609
53, 549
197, 760
134, 314
227, 526
143, 442
18, 500
1,989
151,658
29, 244

2,542
3,328
4,600
44, 515
7,196
9,810
435
9, 648
8, 813
17, 241
34, 323
11,102
2,314
3,997
46, 660
12,189

25,000
25, 000
25,000
50, 000
25, 000
25,000
25,000
25, 000
50, 000
100,000
50, 000
80, 000
25, 000
25, 000
60, 000
62, 500

129, 348
211, 863
270, 340
852, 610
165, 713
218, 501
72, 855
322, 303
516, 914
682, 093
1,224, 382
746, 973
107, 143
131, 276
727, 261
525, 210

44, 466
68, 618
34,158
280, 216
76, 893
87, 619
10, 620
45,895
179, 423
307, 295
435, 342
112, 925
40, 886
53, 337
373,929
248,895

8,388
3,625
9,586
22, 092
12,400
16, 400
4,540
6,900
9,400
54,175
60,000
41,175
1,300
16, 525
19,000
47,035

988
989
990
991
992
993
994
995
996
997
998
999
1000
1001
1002
1003




268

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.
Disposition of proceeds
of liquidation

Progress of liquidation to date of this report

Offsets
allowed
and
settled

Total
collected
from all
sources,
including
offsets

Loss on
assets compounded
Remaining
or sold
uncollected
under
assets
order of
court

935
937
938
939
941
942
943
944
945
946
947
948
949
950
951
952
954
955
956
957
958
959
960
961
962
963

$11,893
102
23,804
590, 750
10,137
7,046
11, 961
51, 540
5,578
39, 326
8,646
307, 686

$170,076
65, 957
380, 033
3, 056, 742
147, 915
35, 384
189, 734
494, 208
94,160
470, 435
60, 784
2, 262, 210

$25, 626
63, 886
260, 649
128,845
64,115
784
3,151
18, 209
4,877
425, 884
395
84, 923

2,061, 702
403,133
73, 515
360, 542
306, 482
106, 028

10, 978
27, 484
28, 745
21, 757
31, 263

296, 300
420, 952
308, 899
214, 457
197, 600

20, 534
25, 746
11,171
9,751
18, 230

964
965
966
967
968
969
970
971
972
973
974
975
976
977
978
979
980
981
982
983

10,141
25, 072
193,198
86,841
7,038
10, 245
545
114, 322

18, 793

17,845
12, 950
299, 601
38, 838
20, 568
6,668
114, 039
15, 806
1,278
24, 912
9,438

$190,129
23, 517

Remaining
Assets
uncollect- returned
ed stock
to shareassessholders'
ment
agents

Dividends
paid

Secured
and preferred
liabilities,
including
offsets
paid

$103, 979
10,420
*328, 307
1,638, 579

103, 973
596, 899

$12, 391
11,166
19, 000
117, 979
30, 874
24, 000
22, 200
38, 050
14, 800
9,663
19, 409
72, 915

5,574
79, 262
304, 087
52,444
320, 872
19, 527
977, 540

$18,314
45,805
39, 093
1,172,124
92,342
23,385
72, 681
105, 218
25, 996
105, 707
. 25,547
1,078, 065

138, 287
32, 716
9,097
11,900
9,830

366,355
343, 467
203, 723
274,422
299, 624

52, 530
7,333
39, 400
29,159
35, 700

112, 709
202, 269
183, 221
101,133
35, 853

133, 030
186, 738
81,171
78,494
130,134

356, 544
423, 075
159, 330
146, 354
177, 714
225, 991
152,146

44, 088
100, 395
20,924
12, 026
8,308

328, 958
355, 287
335, 394
151, 998
130, 236
182, 236
223, 026

20,133
14, 900
39,992
15, 676
12,150
28,100
24, 575

199, 841
203, 969
29, 814
69, 784
113,859
15, 000
63,102

118,191
157, 404
94, 296
52,959
43, 600
125, 436
38, 880

77, 592
273, 245
679, 021
292, 259
127, 647
71, 220
107, 503
995, 508
109, 205
232,437
164,464
1, 757,812
483, 900
335, 111
108, 864
333, 924
173, 703
83, 035
241, 538
110,129

4,774
27, 285
185, 030
6,846
11, 358
9,883
185, 776
33, 558
11,126
52, 902
19, 568
186,774
57,124
30,976
225
55, 254
16, 445

142, 975
216, 200
732, 864
238, 980
177, 655
88, 441

17, 676
46, 000
167, 277
28, 986
76,865
14, 600
51, 982
37, 848
67, 065
16,971
24, 513
167, 300
10,922
38,881
19, 383
37, 782
22, 500
34, 012
43, 217
20, 813

13, 754
86, 514
169, 799
162, 399
50, 288
29, 386
7,250
463, 003
35, 233
80, 367
38, 244
1,174, 808
301, 429
143, 783
38, 441
41, 348
28, 667
145, 731
35, 322

50, 018
155, 706
387, 002
86, 950
58, 244
23,189
94,143
429,108
36, 496
64, 737
93, 463
334,194
129, 687
126, 651
34,198
266, 804
138, 260
34, 668
42, 221
32, 751

52,
50,
87,
535,

210
559
266
324

28, 086
280, 337
130, 730
350

10, 842
18, 988

25, 332
66,712
25,479
199,655
28, 423
63, 395
7,176
26, 236
142, 949
171, 757
373, 010
104, 388
33, 517
16, 051
55,249
113,733

984
985
986
987

17, 518
17, 481
25, 593

112, 319
391, 644
240,933
552,935

988
989
990
991
99?,
993
994
995
996
997
998
999
1000
1001
1002
1003

2,509
31, 628
1,967
38, 237
6,680
2,840
26
5,246
3,238
19,195
60, 373
18, 572
2,682
6,314
37, 550
17,163

55, 363
103,871
45, 711
340, 545
95,973
106, 859
15,186
58, 041
192, 061
380, 665
545, 715
172, 672
44,868
76,176
430,479
313,093




61, 745

15, 246
12,009
868, 403
12,980
485
1,898
20, 551
6,226
4,316
8,661
5,647
9,937
86, 343
2,861
6,770
49,387

410, 939
219, 681
409,183
162, 927
705, 686
604,113
691,716
156, 019
307, 640
263, 303
122,173
283, 632
28, 976
177, 600
512, 313
167, 098
44, 393
86,132
207, 317
463, 606
50, 914
98, 726
28, 548
240, 515
274, 316
169, 260
675, 806
535, 476
38, 575
39, 855
206, 395
196, 652

17,
79,
16,
147,

320
500
000
825

16, 612
21, 375
15, 414
27,908
12, 600
S,609
20, 460
18,100
40, 600
45,825
38, 825
23, 700
8,475
41,000
15,465

52, 696
50,177
15, 278
2,938
13,177
177, 303
121, 263
36,142
322, 802
166,184

REPORT OF THE COMPTROLLER OF THE CURRENCY

269

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$242
30
2,470
16,928
8,984
88
6,490
2,341
224
7,976

$12,065
5,588
10,163
101, 682
19,289
3,430
16,197
17, 571
8,724
12,439
8,345
39, 342

16, 382
3,452
4,377
5,212
6,531
4,038
4,220
5,697
315

Cash in
hands of
comptroller
and
receiver

Amount
returned
to shareholders
in cash

Amount
of claims
proved

Dividends
(per
cent)

127, 429
27, 300
2,907
15,104
64,991
6,772
31,417
7,365
159,287

$297,116
34, 225
493,767
3, 647, 997
445,209
57, 573
396, 214
609, 433
131, 295
482,114
65, 075
1, 369, 697

8,093
13, 844
18, 458
13,463
7,538

594,137
404, 249
305, 421
337,143
261, 727

19
50
60
30
10

25, 861
25, 980
19, 672
11, 281
9,945
12, 610
12,964

8,613
31, 502
9,851
12, 015
10,310
4,572
35, 585

499, 599
583, 024
373, 615
155,192
228,004
50, 000
315, 528

40
35
8
45
50
30
20

4,727
11, 676
82, 669
25, 577
2,159
9,400

12,395
10, 241
4,280
2,173
14
10,835
19,906
469
122
6,165
745
9,034
176

8,994
18,086
35, 262
15,013
11, 711
8,789
6,110
30, 751
9,184
11, 884
10, 972
49, 988
23, 257
21, 472
10, 748
15, 729
14, 934
13,157
19, 672
12,191

60, 251
18,051
71,169
19, 612
198,808
18, 692
23, 299
25, 008
9,921
14,344
5,798
24, 880
29, 689

133, 915
276, 354
848, 997
273, 929
145,130
73,477
207,154
764, 665
176,168
536, 040
191, 821
1,956, 581
861,096
718, 953
192, 976
415, 867
243, 047
71, 667
416, 382
70,130

6,987
9,897
252
919

8,622
21,658
12,114
14,430

16, 414
29,193
10, 571
1, 912

2,240

7,900
9,500
7,889
17,197
5,320
8,441
2,048
7,587
8,173
13,597
22,404
11, 882
3,319
4,560
11, 890
16, 295

9,049
8,671
11,490
56, 639
11, 969
19, 745
2,785
8,411
40, 836
15,858
25,145
53, 589
7,856
19,423
40, 507
15, 340

Finallyclosed

10
20
50
40
60
30
70

26,036
14, 649
21, 672
16,155
17, 544

Interest
dividends
(per
cent)

$35,476
4,114

45
30
25
45

A u g . 19,1927

M a r . 25,1927

Jan.

68,373
1,615
99
1,263
4,289
2,320
5,245
456

853
14,358
84
239
2,630
103
2,150
3,893
2,813
176
31
1,541




10
30
20
60
35
40
3.5
60
20
15
20
70
35
20
20
10

22,1927

935
937
938
939
941
942
943
944
945
946
947
948
949
950
951
952
954
955
956
957
958
959
959
961
962
963

40
35
90

964
965
966
967
968
969
970
971
972
973
974
975
976
977
978
979
980
981
982
983

173,950
510, 005
211, 221
623, 213

30
10
40
84. 23719

984
985
986
987

54,156
76,462
202,195
526, 959
77, 284
118, 594
14, 880
263, 534
380,447
253,264
615, 387
314, 525
20,425
60, 562
461,217
255, 558

20
25
10
65
15
20
5
70
20
60
70
65

Sept. 30,1927

988
989
990
991
992
993
994
995
996
997
998
999
1000
1001
1002
1003

270

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.

Title and location of banks

1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
1021
1022
1023
1024
1025
1026
1027
1028
1029
1030
1031
1032
1033
1034
1035
1036
1037
1038
1039
1040
1041
1042
1043
1044
1045
1046
1047
1048
1049
1050
1051
1052
1053
1064
1055
1056
1057
1058
1059
1060
1061
10G2
1063
1064
1065
1066
1067
1068
1069
1070
1071
1072

Date of
organization

Capital
stock at
suspension

Receiver
appointed

First National Bank, Jonesboro, Ark
Dec. 20,1905
$100,000 June 4,1926
do.
First National Bank, Saco, Mont
_
May 26,1910
30,000
Apr. 16,1915
First National Bank, Hayden, Colo__
_
25,000 June 16,1926
25,000 June 22,1926
First National Bank, Barnsdall, Okla_
_
_. Sept. 17,1919
Nov. 6,1924
50,000 July 2,1926
Palm Beach National Bank, Palm Beach, Fla
Feb. 24,1902
25,000 July 6,1926
First National Bank, Benson, Minn.
May 1,1900
50,000
De Smet National B ank, De Smet, S. Dak _
do
Aug. 3,1900
35,000 July 8,1926
First National Bank, Milford, Iowa
May 12,1908
First National Bank, Dinuba, Calif.* _
200,000 July 9,1926
Apr. 11,1905
First National Bank, Glenwood, Minn
35,000 July 14,1926
Nov. 14,1908
Whitbeck National Bank, Chamberlain, S. Dak
50,000
do—
25,000 July 22,1926
First National Bank, Cumberland, Iowa__
_. June 17,1904
July 9,1884
50,000
Guthrie County National Bank, Panora, Iowa
do
Apr. 9,1903
25,000
First National Bank, Royalton, Minn
do
Apr. 7,1915
25,000 July 23,1926
First National Bank, Pepin, Wis
Aug. 6,1901
50,000
.do
First National Bank, Woonsocket, S. Dak
May 21,1915
50,000 July 27,1926
Peoples' National Bank, Bennettsville, S. C
Dec. 17,1904
50,000 Aug. 6,1926
First National Bank, Eldorado, IU_
Oct. 7,1905
35,000 Aug. 16,1926
First National Bank, Adrian, Minn
25,000
First National Bank, Colman, S. Dak
_. Feb. 20,1903
do
Jan. 31,1902
25,000 Aug. 20,1926
First National Bank, Waubay, S. Dak
Feb. 4,1907
40,000 Aug. 26,1926
First National Bank, Akron, Colo
Mar. 24,1903
25,000 Sept. 4,1926
Oakes National Bank, Oakes, N . Dak
75,000 Sept. 10,1926
National Farmers Bank, Owatonna, Minn___
_. May 29,1893
Mar. 24,1909
25,000 Sept. 18,1926
Anamoose National Bank, Anamoose, N . Dak
Aug. 16,1910
40,000
do.
First National Bank, Veblen, S. Dak
May 11,1925
25, 000 Sept. 21,1926
Farmers National Bank in Lidgerwood, N . Dak
Jan. 4,1913
Farmers & Merchants National Bank, Merced, Calif..
100,000 Sept. 23,1926
National Security Bank, Fairfax, S. C
__. Mar. 23,1925
25,000 Oct. 1,1926
First National Bank, Lake Norden, S. Dak
_. Mar. 3,1915
35,000 Oct. 5,1926
Dec. 14,1901
First National Bank, Fulda, Minn
25,000 Oct. 7,1926
Feb. 16,1905
First National Bank, Boswell, Okla
50,000 Oct. 8,1926
May 25,1871
National Bank of Franklin, Franklin, Tenn
100,000 Oct. 18,1926
Dec. 26,1914
do
Farmers & Merchants National Bank, Lake City, S. C
100,000
Nov. 12,1909
City National Bank, Bismarck, N . Dak
50,000
Dec. 26,1907
American National Bank, Atoka, Okla
25,000 Nov. 1,1926
Feb. 6,1908
do
England National Bank, Little Rock, Ark
300,000
July 3,1913
First National Bank, Broken Bow, Okla
25,000 Nov. 2,1926
Mar. 13,1914
do
First National Bank, Haworth, Okla
25,000
June 30,1919
First National Bank, Clearbrook, Minn
25, 000 . . . . d o
Aug. 19,1902
First National Bank, Toledo, Iowa
85, 000 Nov. 3,1926
Feb. 23,1916
First National Bank, Gonvick, Minn
25, 000 Nov. 5,1926
Sept. 14,1906
First National Bank, Kingsburg, Calif
50,000 Nov. 9,1926
May 21,1916
First National Bank, Brandon, Minn
__.
25, 000 Nov. 11,1926
Aug. 17,1908
First National Bank, Ackerman, Miss
25,000 Nov. 12,1926
Oct. 16,1902
First National Bank, Milbank, S. Dak
50,000 Nov. 15,1926
May 1,1900
First National Bank, Armstrong, Iowa
50, 000 Nov. 17,1926
Aug. 11,1903
Citizens National Bank, Spencer, Iowa
100,000 Nov. 19,1926
Jan. 3,1882
State National Bank, Austin, Tex
100,000 Nov. 20,1926
Sept. 23,1916
First National Bank, A ilder, Idaho
V
25,000 Nov. 22,1926
Dec. 21,1885
First National Bank, Detroit Lakes, Minn
50,000 Nov. 23,1926
July 17,1912
do
First National Bank, Terril, Iowa
25,000
Jan. 7,1908
do.
First National Bank, Steele, N . Dak.*
25,000
Mar. 17,1922
Standard National Bank, Washington, D . C. i
do
200,000
Oct. 15,1914
Citizens National Bank, Petty, Tex
37,000 Nov. 24,1926
Feb. 6,1904
Farmers National Bank, Manor, Tex
40,000 Nov. 26,1926
Dec. 26,1883
Clarinda National Bank, Clarinda, Iowa
50,000 Nov. 29,1926
Dec. 17,1917
First National Bank, Marked Tree, Ark
50,000 Nov. 30,1926
Jan. 30,1893
First National Bank, St. James, Minn
do
50,000
June 9,1902
First National Bank, Leeds, N . Dak
25,000 Dec. 1,1926
Aug. 29,1902
Farmers National Bank, Brookmgs, S. Dak
50, 000 Dec. 3,1926
Jan, 21,1904
First National Bank, Alta, Iowa_~_
50,000
do
July 19,1902
First National Bank, Elkton, S. Dak
25, 000
do
Aug. 14,1889
Planters National Bank, Honey Grove, Tex1
100,000 Dec. 6,1926
May 3,1880
First National Bank, New Hampton, Iowa
50,000 Dec. 9,1926
Apr. 21,1905
First National Bank, Hannaford, N . Dak
25,000 Dec. 10,1926
Feb. 9,1875
First National Bank, Malvern, Iowa
50, 000
do
June 15,1909
First National Bank, Stanley, N. Dak
25, 000 Dec. 15,1926
Feb. 9,1920
First National Bank, Haleyville, Ala
25, 000 Dec. 17,1926
1
a
Receiver appointed to complete unfinished liquidation.
Restored to solvency.




271

EEPORT OF THE COMPTROLLER OP THE CURRENCY

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of
suspension

Progress of liquidation
to date of this report
Additional

Estimated

Estimated

good

doubtful

Estimated
worthless

assets
received
since
date of
suspens on

Total
assessment of
shareholders

Total
assets
and
stock
assessment

Cash
collected
from
assets

Cash
collected
from
stock
assessment

$229,374
56,137
58,407
182,269
213,140
47,737
167, 239
172,198
397
52,431
95, 001
56,050
235,065
145, 778
135,932
150, 314
184, 060
248, 020
141, 356
75, 290
33, 334
212, 648
74,486
656, 612
13, 025
40, 342
139, 590
278, 992
15,132
84, 671
86, 860
129, 242
213, 255
308, 687
285, 998
44,154
1, 727, 457
39, 231
26, 878
23, 475
269, 697
44, 235
183, 497
23, 805
35, 906
246, 562
111, 692
176, 889
902, 826
58, 531
222, 667
91,085

$277, 776
42,097
74,118
59, 798
197,071
101, 590
227, 373
292, 656
2,219
107, 067
133,599
84, 815
237,049
165, 489
128,487
137,140
163, 228
157,132
155,154
222, 568
92, 297
146, 436
168,189
885, 553
75, 670
107,964
185,902
658, 287
24,991
155,619
202, 035
72, 652
286, 596
309, 764
532, 595
51, 151
560, 600
112,109
80, 881
94, 460
328, 734
100, 736
170,050
83, 632
38, 354
165, 347
284, 974
201, 002
123, 837
57,313
485, 929
129, 476

$198,077
14,067
45,287
87,630
98,099
235, 747
142, 256
147, 254
197,448
88,698
96,008
57, 293
36,456
93,123
3,151
34,364
89,088
58,009
34,452
71, 424
84, 369
102, 731
27, 065
67,493
12,300
75,036
17, 227
436, 698
33,946
44, 651
134, 753
136, 005
239, 088
193, 358
244, 802
38,328
1,004, 782
3,474
9,801
35, 048
11, 417
46,805
96,139
79, 297
24, 400
47, 850
35, 346
376, 700
156,182
22, 238
156, 333
91, 242

$41,946
3,982
45,846
21,818
64, 936
14,034
29, 593
18,643
693
89,852
2,330
8,855
23,201
11,354
8,982
9,835
6,884
59,565
8,574
19, 517
7,847
7,473
11,120
44,459
38, 511
15, 227
8,990
100,867
53,172
7,498
13, 587
21, 583
47,222
24,497
33, 381
2,281
41, 540
2,885
1,962
1,849
17,847
10, 352
42,228
8,705
2,504
16, 216
10,818
17, 278
61, 593
2, 500
8,757
23,051

$100,000
30,000
25,000
25, 000
50, 000
25, 000
50, 000
35,000
200, 000
35, 000
50,000
25, 000
50,000
25,000
25,000
50, 000
50, 000
50, 000
35, 000
25, 000
25, 000
40,000
25, 000
75, 000
25, 000
40, 000
25, 000
100,000
25,000
35,000
25, 000
50, 000
100, 000
100, 000
50,000
25,000
300, 000
25, 000
25, 000
25, 000
85, 000
25, 000
50,000
25, 000
25,000
50,000
50, 000
100, 000
100, 000
25,000
50, 000
25, 000

$847,173
146, 283
248, 658
376, 515
623, 246
424,108
616, 461
665, 751
400, 757
373, 048
376,938
232,013
581, 771
440, 744
301, 552
381, 653
493, 260
572, 726
374, 536
413, 799
242, 847
509, 288
305, 860
1, 729,117
164, 506
278, 569
376, 709
1, 574, 844
152, 241
327, 439
462,235
409, 482
886,161
936, 306
1,146, 776
160, 914
3, 634, 379
182, 699
144, 522
179, 832
712,695
227,128
541, 914
220, 439
126,164
525, 975
492, 830
871, 869
1, 344, 438
165, 582
923, 686
359, 854

$303,997
53,189
63,474
148, 309
250, 925
95,167
178, 313
151, 286
6,747
122, 858
57,166
86, 300
223, 898
111, 921
103,606
103, 758
192, 818
159, 870
127,170
101, 624
34,166
152,842
44,133
593,835
22, 760
59, 766
128, 955
675, 203
25, 795
67, 041
134,157
173, 044
237, 429
201, 611
599, 592
32, 072
1, 937, 754
19, 777
31,197
44, 854
294, 659
37, 524
227,089
77, 445
52, 318
166, 530
137, 021
231,120
772, 642
55, 632
267,153
142, 688

$21, 295
1,675
18, 937
10, 380
46,525
4,306
24,900
8,656
101, 575
7,325
6,500
9,120
47,497
11,350
11,006
12,122
17,450
42,861
6,150
12, 604
4,360
10,313
3,293
20,084
4,915
18, 650
14, 650
47, 058
6,689
22,171
23, 531
7,512
54, 375
63, 863
50,000
5,800
150, 225
11,450
2,400
13, 685
73, 650
7,878
13,740
7,083
9,850
8,933
3,550
34, 400
76, 775
10, 247
19, 788
13, 036

8,992
54,100
64,116
327,800
33, 860
156, 218
64, 314
568, 348
205, 712
133, 437
202,663

43, 741
77,140
54, 862
261, 480
143, 751
256, 303
70, 332
454, 379
310,194
151, 422
201, 531

118, 512
19, 832
21, 428
198, 543
75, 547
121,955
34, 490
94,463
55, 057
40, 460
52, 921

1,603
8,164
1,530
15, 582
8,665
19, 991
3,383
28,184
14, 568
14, 955
38,952

200, 000
37, 000
40,000
50,000
50, 000
50,000
25, 000
50, 000
50, 000
25, 000
100, 000

372, 848
196, 236
181, 936
853, 405
311, 823
604,467
197, 519
1,195, 374
635, 531
365, 274
596, 067

36, 732
53, 895
40, 882
243, 862
35, 735
313, 389
33, 748
486,181
256, 374
123, 031
166, 376

2,007
24, 975
29, 650
23,250
162
25, 343
17, 356
37, 561
28, 304
12,875
59,455

15,177
122,241
63,255
48,872

112, 359
110,206
127, 639
97, 747

62,072
108,100
55,024
13,999

44,888
25, 268
35600
738

25,000
50, 000
25,000
25,000

259,496
415, 815
274, 518
186, 356

37,986
117, 294
36,397
43, 716

7,575
24,233
1,000
11, 750




1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
1021
1022
1023
1024
1025
1026
1027
1028
1029
1030
1031
1032
1033
1034
lf)35
1036
1037
1038
1039
1040
1041
1042
1043
1044
1045
1046
1047
1048
1049
1050
1051
1052
1053
1054
1055
1056
1057
1058
1059
1060
1061
1062
1063
1064
1065
1066
1067
1068
1069
1070
1071
1072

272

KEPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.— 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 to year ended October 31, 1927—Con.
Progress of liquidation to date of this report

Offsets
alowed
and
settled

1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
1021
1022
1023
1024
1025
1026
1027
1028
1029
1030
1031
1032
1033
1034
1035
1036
1037
1038
1039
1040
1041
1042
1043
1044
1045
1046
1047
1048
1049
1050
1051
1052
1053
1054
1055
1056
1057
1058
1059
1060
1061
1062
1063
1064
1065
1066
1067
1068
1069
1070
1071
1072

$19, 797
4,513
7,817
54, 336
60, 634
11, 321
19, 853
8,657

Total
collected
from all
sources,
including
offsets
$345,089
59, 377
90,228
213,025
358,084
110,794
223,066
168, 599
108, 322
133,891
68, 704
103, 985
288,277
131, 412
123, 775
127,889
220, 661

3,708
5,038
8,565
16, 882
8,141
9,163
12,009
10,393
24,107
11,215
2,400
2,775
3,409
9,846
122, 521
2,082
4,238
19, 401
90, 527
3,999
15,848
6,172
8,416
56, 818
59, 549
58, 603
4,211
551
3,220
3,650
8,163
34,109
11,180
17, 251
4,003
3,333
16,363
5,742
47, 924
83, 277
13, 819
57, 972
14,981

144, 535
116, 628
41, 301
166, 564
57, 272
736, 440
29, 757
82, 654
163, 006
812, 788
36, 483
105, 060
163,860
188,972
348, 622
325, 023
708,195
42,183
2,088, 530
34,447
37, 247
66, 702
402, 418
56, 582
258, 080
88, 531
65, 501
191, 826
146, 313
313,444
932, 694
79, 698
344,913
170, 705

3,281
11,011
59,986
9,465
31, 345
11, 683
79,068
37,016
5,125
24,161

82,151
81, 543
327, 098
45,3G2
370,077
62, 787
602, 810
321, 694
141, 031
249, 992

5,267
29,909
6,109
4,187

50, 828
171, 436
43, 506
59,653




Loss on
Remaining Assets
assets compounded Remaining uncollect- returned
uncollected ed stock to shareor sold
holders'
under
order of
ment
court
$238
9,558
3,154
20, 804
20,470
3,401
19, 996
194,010
16,790
19,890
38,114
14, 046
4,237
6,437
50, 250
4,040
50
2,412
6,218

$423,141
49,023
152, 367
145,716
240, 883
272,150
364, 894
450, 812
194, 692
264, 734
92,258
252, 877
281, 636
159, 546
209,449
189, 799
338, 749
197, 111
284, 725
178, 494
226, 881

3,781
1,678
36, 287
4,007
5,709
28,245
5,600
6,473
438, 581
114,917
374
"5," 584"
17,417
4,364
33,647
3,314
33, 583
13,102
388, 519
2,141
43, 064
3,288
136,116
5,485
675
10, 519
2,531
32, 828

4,981
2,314

114, 664
174, 565
201, 675
672, 827
93, 440
209, 550
291,197
149, 777
486, 314
568, 673

$78, 705
28, 325
6,063
14,620
3,475
20,694
25,100
26, 344
98, 425
27, 675
43,500
15, 880
2,503
13, 650
13, 994
37, 878
32, 550
7,139
28,850
12, 396
20, 640
29, 687
21, 707
54, 916
20,085
21, 350
10, 350
52, 942
18, 311
12, 829
1,469
42, 488
45, 625
36,137

505, 497
173, 897

19,100
149, 775
13, 550
22, 600
11, 315
11, 350
17,122
36, 260
17,917
15,150
41, 067
46,450
65, 600
23, 225
14, 753
30, 212
11, 964

96, 575
89, 368
499, 557
216, 623
199, 214
127, 088
577, 594
259, 313
212,118
305, 530

197, 993
12, 025
10; 350
26, 750
49, 838
24, 657
7,644
12, 439
21, 695
12,125
40, 545

186, 262
216, 298
207, 012
113,453

17, 425
25, 767
24, 000
13. 250

99, 631
1,281,157
134,702
84, 301
101, 815
293, 343
153, 424
230,157
109, 627
11, 866
289, 768
266,484
479, 723

Disposition of proceeds
of liquidation

Dividends
paid

$93,194
21,334
34, 333
92, 894
213,191

90,000
74,320
55, 534
146, 291
29, 704
80, 600
21, 782
18, 897
108, 572
31,306
29,727
12, 831
22, 513
366, 747
24, 559
36, 774
243, 616
52, 917
21, 750
99, 750
485, 640
12,141
840
14,923
241, 895
97,077
26,179
8,234
28, 295
38, 081
705,002
40, 010
119,169
105,109
18,301
37, 580
106, 312
277, 539
21, 767
264, 622
186, 802
48, 794
101, 525
60, 528

Secured
and preferred
liabilities,
including
offsets
paid
$221, 590
29, 242
36, 521
97,902
77,086
67,391
129, 383
130,463
5,886
46,956
56,951
30,015
92, 709
65, 519
22, 823
81, 636
170, 965
88, 296
80, 792
69, 944
17, 599
123, 709
35, 845
266, 993
12, 864
36, 920
103, 577
414, 668
11, 555
31, 396
108, 619
153, 673
165, 656
129, 473
193, 433
21, 377
1,922,808
13,108
19, 023
30, 657
142, 111
26,106
113, 788
35, 705
47, 261
132, 207
117, 490
204, 083
177, 520
21, 583
196,879
25, 229
34,599
51, 061
11,011
166, 750
26,301
60, 672
25, 940
269, 725
109,401
82, 846
124,914
28, 894
75, 682
19,051
38,022

REPORT OF THE COMPTROLLER OF THE CURRENCY

273

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds o f liquidation

Cash in
hands of
comptroller
and
receiver

Amount
of claims
proved

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$708
108
503
221
500
337
2,000
2,312

$16,008
4,004
7,627
14, 449
15,144
10, 769
14, 014
15,624
4,847
9,308
7,162
7,073
13,668
10, 520
6,477
9,507
9,520
13, 325
6,987
9,094
6,298
9,928
10, 225
30,250
5,606
8,023
9,282
23, 527
4,237
5,583
8,778
4,603
15, 538
16, 824
11, 558
5, 207
4,128
6, 017
4,011
4,768
8,437
4,478
7,573
4,900
5,223
8,677
7,273
15, 885
7,221
5,099
11,120
7,058

$13, 589
4, 689
11, 244
7,559
52,163
32, 297
40, 840
20,200
7,589
3,307
4,590
11,256
31,121
22,198
12,693
12,057
21,004
16,517
23,489
7,863
4,573
9,322
9,526
66, 303
9,133
12, 005
10,157
120, 705
20, 660
13, 446
39,747
29, 596
143, 942
76, 628
17, 564
3,395
161,594
15,175
13, 373
16, 354
9,015
25,998
39,071
14, 896
4,454
22,647
19, 958
38, 777
42, 502
12,447
15,116
32, 801

$452,037
53, 335
114, 743
201, 293
391,763
305, 617
370, 576
370, 376
200, 608
185, 803
148,168
140,955
365,661
308, 691
243, 251
212, 021
190, 885
331, 779
210, 039
285, 259
178, 724
313, 761
171, 034
1,244,486
77, 683
162, 982
328,663
974,975
40, 887
211,673
254,614
111, 359
299, 588
498, 785
778, 261
80, 945
2,600,625
52,618
24, 869
99,915
372,979
148, 684
420,648
131, 005
32,949
278, 898
243,200
382, 022
839, 235
83,432
594, 826
262, 772

392

4,140
4,976
5,890
7,494
3,668
7,281
4,089
13,470
6,971
5,348
7,450

7,744
26, 795
45, 659
15, 393
23, 858
4,814
32, 759
16, 627
4,043
15, 711

63, 228
75,163
537, 978
80,674
427, 213
111, 328
756, 061
415,115
240,028
254, 246

795
5,086
603
152

6,104
4,810
6,870
5,232

15,035
25, 330
16, 982
16, 247

118, 364
201, 828
156, 625
88, 495 ,

1
107
4,488
3,471
1,882
2,907
275
128
1,961
1,092
1,676
6,147
2,154
1,147
3,216
10, 272
31
1,718
6,716
1,100
1,736
2,348
63
147
960
571
6,851
329
1,592
16, 618
389
559
2,629
508
69
267
883
727
6,177
22,234
1,893




Amount
returned
to shareholders
in cash

Dividends
(per
cent)

Interest
dividends
(per
cent)

Finally
closed

20
40
30
45
55
10
44 8
40
40
40
10
35
10
10
30
15
10
20
10
30
15
15
25
25
10
20
60
15
10
15
40
30
20
35
10
10
50
20
40
A u g . 17,1927
M a y 2 1927
30
50
20
65
20
35
45
20
40
30

1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
1021
1022
1023
1024
1025
1026
1027
1028
1029
1030
1031
1032
1033
1034
1035
1036
1037
1038
1039
1040
1041
1042
1043
1044
1045
1046
1047
1048
1049
1050
1051
1052
1053
1054
1055
1056
1057
1058
1059
1060
1061
1062
1063
1064
1065
1066
1067
1068
1089
1070
1071
1072

274

BEPOKT OF THE COMPRTOLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.

Title and collection of banks

1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
1122
1123
1124
1125
1126
1127
1128
1129
1130
1131
1132
1133
1134
1135
1136
1137
1138
1139
1140

Capital
Date of
Stock at
organization suspension

Receiver
appointed

National Bank of Oakesdale, Oakesdale, Wash___
Apr. 25,1908
$25, 000 Dec. 21,1926
Farmers National Bank, Newport, Ark
June 6,1916
50,000
do
First National Bank, Plattsmouth, Nebr
Dec. 12,1871
50,000
do
Apr. 29,1907
35,000 Dec. 27,1926
First National Bank, Adair, IowaApr. 17,1905
40,000 Dec. 29,1926
First National Bank, University Place, Nebr
40, 000 Jan. 3,1927
Story City National Bank, Story City, Iowa__
, June 24,1912
Apr. 18,1903
25,000 Jan. 4,1927
Citizens National Bank, Ortonville, Minn
Mar. 20,1911
25,000 Jan. 5,1927
First National Bank, Collinsville, Okla
Apr. 10,1913
35,000
do
Citizens National Bank, Koyal, Iowa
Nov. 23,1916
25,000 Jan. 7,1927
First National Bank, Carlyle, Mont
Mar. 10,1902
50, 000 —_do
Monti cello National Bank, Monticello, Ind. i
Jan. 15,1921
50,000 Jan. 8,1927
First National Bank, Cardwell, Mo
_
Aug. 3,1881
75,000 Jan. 10,1927
First National Bank, Nevada, Iowa2
July 11,1902
35,000 Jan. 12,1927
First National Bank, Granger, Tex.
Nov. 24,1905
25,000 Jan. 13,1927
First National Bank, Renwick, Iowa
Aug. 5,1900
35, 000 Jan. 14,1927
First National Bank, Moulton, Iowa__
July 1,1908
100, 000
First National Bank, Delano, Calif.
do
Mar. 21,1894
50, 000 Jan. 15,1927
National Bank of Jerseyville, Jersey ville, HI
June 18,1901
50, 000 Jan. 18,1927
First National Bank, Argyle, Minn—
25, 000
First National Bank, Boyceville, Wis
._. Dec. 8,1917
do
June 10,1925
50,000 Jan. 20,1927
Citizens National Bank, Commerce, Tex
May 18,1925
25,000 . . — d o
Citizens National Bank, Lone Oak, Tex
June 7,1904
25,000 Jan. 21,1927
First National Bank, Beardsley, Minn
July 19,1910
25,000 Jan. 24,1927
Farmers National Bank, Red Lake Falls, Minn
Apr. 10,1883
50,000 Jan. 31,1927
First National Bank, Biggsville, 111.x—
Aug. 29,1905
85,000
First National Bank, Edgeley, N. Dak
do
Apr. 30,1906
50,000 Feb. 1,1927
Farmers National Bank, Lidgerwood, N. Dak
Aug. 13,1895
50,000
First National Bank, Britt, Iowa__
do
Apr. 12,1872
60,000
Marion County National Bank, Knoxville, Iowa
do
May 25,1903
50, 000 Feb. 5,1927
First National Bank, Montevideo, Minn.
Feb. 25,1908
25,000
do
Peoples First National Bank, Olivia, Minn
July 27,1920
25,000 Feb. 9,1927
First National Bank, Lincoln, Ark
_._
Feb. 13,1904
25, 000 Feb. 10,1927
First National Bank, Clinton, Minn_
Jan. 22,1902
50, 000 Feb. 18,1927
Citizens National Bank, Albert Lea, Minn
May 25,1880
do
65,000
First National Bank, Marengo, Iowa
May 11,1871
50,000 ____
First National Bank, Allegan, Mich_
.
July 24,1905
25,000 Feb. 19,1927
First National Bank, Rolette, N. Dak
25, 000 Feb. 21,1927
Farmers &MerchantsNationalBank,MountMorris,Pa. Sept. 22,1903
Aug. 1,1903
50, 000
First National Bank, Rush City, Minn..do.
May 29,1899
300, 000 Feb. 24,1927
Central National Bank, Marietta, Ohio
Sept. 14,1904
25,000 Mar. 1,1927
American National Bank, Stigler, Okla__
_
May 31,1872
60, 000 Mar. 3,1927
First National Bank, Belle Plaine, Iowa
Jan. 20,1905
50, 000 M a r . 7,1927
First National Bank, Dunbar, Pa
June 20,1900
35, 000 M a r . 9,1927
Exchange National Bank, Leon, Iowa
Oct. 12,1905
25,000 Mar. 11,1927
Warren National Bank, Franklin, Ohio
June 21,1920
50, 000 M a r . 17,1927
First National Bank, Warsaw, N. C.._
Feb. 22,1893
75, 000 M a r . 22,1927
First National Bank, Hartley, Iowa
May 23,1904
25, 000 M a r . 23,1927
First National Bank, Norway, Iowa.._
May 2,1908
50, 000 M a r . 25,1927
United States National Bank, Dinuba, Calif
Mar. 19,1919
do.
35, 000
First National Bank, Lepanto, Ark
Mar. 31,1890
300, 000 M a r . 26,1927
Provident National Bank, Waco, Tex.*
June 23,1905
75, 000 M a r . 28,1927
First National Bank of Benson, Holsopple, Pa
Feb. 8,1888
150, 000 M a r . 29,1927
First National Bank, Sheldon, Iowa
Feb. 13,1907
45,000 M a r . 31,1927
American National Bank, Green City, 1
Mo
300, 000 .....do
Geneva National Bank, Geneva, N. Y.
_. Feb. 27,1865
Feb. 2,1904
100,000
First National Bank, Columbia City, Ind
do
Apr. 3,1917
50,000 Apr. 1,1927
First National Bank, Fairfax, S. C 1 .Apr. 19,1920
100, 000 Apr. 2,1927
First National Bank, Lake Worth, Fla
Feb. 21,1898
50, 000 Apr. 8,1927
First National Bank, Lake Mills, Iowa
Apr. 23,1904
25,000 Apr. 9,1927
First National Bank, Line ville, Iowa
Jan. 23,1909
100,000 Apr. 29,1927
First National Bank, Bend, Oreg
Oct. 13,1925
25, 000 Apr. 30,1927
New First National Bank in Lamberton, Minn
25, 000 May 5,1927
First National Bank, Dubois, Idaho
_ Oct. 27,1919
_
Apr. 2,1907
25, 000 May 10,1927
First National Bank, Biwabik, Minn
100,000 May 11,1927
Farmers & Merchants National Bank, Cleburne, Tex. May 26,1890
150, 000 May 14,1927
City National Bank in Kearney, Nebr
___ Dec. 3,1926
Mar. 21,1911
65,000
Laurel National Bank, Laurel, Nebr.
do
50,000 May 17,1927
Fermers & Merchants National Bank, Alcester, S. Dak. Dec. 30,1915
1
2
Receiver appointed to complete unfinished liquidation.
Restored to solvency.




KEPOET OF THE COMPTROLLEE OF THE CURRENCY

275

appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of
suspension

Additional
assets
received
since
date of
Estimated Estimated Estimated
suspengood
worthless
doubtful
sion

Progress of liquidation
to date of this report
Total
assessment of
sharenoici6rs

Total
assets
and
stock
assessments

Cash
collected
from
assets

Cash
collected
from
stock
assessments

$31,502
146,977
184, 204
180,113
43, 928
190, 633
153,619
86, 376
122,587
36,308
22,451
97, 536
153, 335

$42,923
37,070
103,238
94,535
92,544
36, 027
61,801
65,128
99,177
11,920
102,404
26, 359
163,565

$5,076
7,778
5,276
14,451
3,747
9, 981
8,481
42,873
12, 767
144
19, 612
1,124
6,695

$25,000
50,000
50,000
35,000
40,000
40,000
25,000
25,000
35,000
25,000
50,000
50, 000
75, 000

$140,133
408,826
449,181
386, 047
241, 830
349, 267
385, 347
488, 303
329, 278
85, 724
235,471
184, 325
503, 357

$34,966
151, 017
110, 737
106,407
67,245
110, 631
94,904
148,643
134,427
565
31, 014
14, 682
101, 071

$2,500
20,646
12, 888
10, 067
5,300
15,430
24,028
6,500
11, 292
15, 250

61,829
81,208
318, 239
160, 407
32, 742
83, 976
33, 944
46, 953
129, 615
56, 001

69, 347
82,976
222,142
165, 936
181, 364
80,986
137, 993
64, 687
131, 605
60, 794

19, 607
16, 824
121, 300
129, 855
45, 759
28,623
20,229
8,879
18,148
70, 934

7,650
12, 627
46,131
23,532
9,332
4,784
2,149
1,567
8,435
5,616

25, 000
35,000
100, 000
50,000
50, 000
25, 000
50, 000
25, 000
25, 000
25,000

183,433
228, 635
807,812
529, 730
319,197
223, 369
244, 315
147, 086
312, 803
218,345

43,973
88, 355
366, 676
182, 266
20, 886
73,067
59,696
25,856
82, 825
25,064

4,250
25, 000
46,860
15, 240
8,810
11, 050
20, 839
10, 500
4,000
2,500

112, 595
2,961
213, 518
298, 869
220, 693
63, 565
16, 531
67,100
523, 039
225,653
426, 298
34,184
241, 396
174, 063
1,406, 902
103, 630
337, 743
266, 910
175, 044
73, 553
129' 689
123, 687
65, 548
157, 880
20,127

201, 321
71,193
590,163
209,040
378, 541
248, 088
49,465
138,357
438, 983
509,479
80,065
91, 678
110, 423
145, 369
808, 391
216, 883
444, 734
163,121
97, 248
15, 626
109^ 560
221,179
132, 574
208, 856
86, 094

24,877
23, 794
49, 886
107, 986
151, 201
47,431
64, 744
19,759
26,337
119,445
248,461
65, 098
39, 348
122, 590
347, 892
69, 748
243, 669
28,015
117, 522
20, 078
55^ 838
118, 202
28, 437
112, 028
46, 731

85, 000
50, 000
50, 000
60,000
50,000
25, 000
25, 000
25,000
50, 000
65, 000
50, 000
25,000
25, 000
50, 000
300,000
25, 000
60, 000
50,000
35,000

73,975
794, 076
238,112
96,155
498,470

123,176
10, 492
123, 668
258,646
188,005

432, 725
149,074
914, 545
759, 629
806, 373
388, 844
160, 036
254,187
1,053,474
990, 275
815, 030
216, 528
420, 987
520', 829
3,190, 316
425,190
1,104,247
520,675
430,428
112, 388
347, 693
543, 728
283, 518
551, 400
192, 252
300, 249
383, 874
1,318, 241
500, 208
359, 793
1, 328,116

71, 071
11, 523
254,158
360, 207
223, 703
84, 607
14,463
50,329
281,603
277, 230
204, 206
19', 104
121, 689
145, 534
2,020,420
188, 859
329, 684
126, 399
85, 379
82, 995
65,309
135,972
83, 544
194,168
19, 373
249
82,611
395,847
85, 842
9,005
466,904

42, 799
9,100
27, 671
41, 664
11, 212
2,600
5,175
5,575
25,865
37, 285
7,000
2,416
23,100
6, 377
121,430
2,040
15,100
11,800
31,496

109,803
346,669
85, 001
3 841
512! 727

8,932
1,126
10,978
83, 734
5,938
4,760
4,296
3,971
15,115
70,698
10,206
568
4,820
28, 807
327,131
9,929
18,101
12,629
5,614
3,131
2,606
5,660
31,959
22/636
4,300
249
1,920
17, 004
8,427
1,151
28,914

938, 698
173, 318
169, 321
421, 441
40, 579
44, 759
182,311

497, 533
260,124
102, 723
689, 716
185, 376
74,434
86,211

184, 335
53, 320
5,903
333, 688
43, 281
42, 591
79, 928

288,688
6,644
5,968
8,120
1,779
33, 785
5,439

166,666

50,000
25, 000
100, 000
25, 000
25, 000
25, 000

2, 009, 254
543, 406
308, 915
1, 552, 965
296, 015
220, 569
378, 889

325, 385
117,217
70, 721
210, 593
40, 242
32,031
121, 254

43, 260
1,974
9,050
14,933
10,045
3,775
3,625

675,280
200, 309
136,778

1,643, 546
345, 851
240, 680

21, 783
155, 713
97, 892

32, 513
57, 079
6,040

150, 000
65, 000
50,000

2, 523,122
823, 952
531, 390

432, 091
133, 387
104,121

8,750
13,150
5,181

$35, 632
167,001
106,463
61, 948
61, 611
72, 626
136,446
268, 926
59, 747
12,352
41,004
9,306
104,762

*




50,000
75,000
25, 000
50,000
35, 000
300,000
75,000
150,000
45,000
100,000

5,003
41,800

300
15,895
11, 575
3,100
257,106
30, 027
9,255
37,290
59, 200

1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
1122
1123
1124
1125
1126
1127
1128
1129
1130
1131
1132
1133
1134
1135
1136
1137
1138
1139
1140

276

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 31, 1927—Con.
Disposition of proceeds
of liquidation

Progress of liquidation to date of this report

Offsets
allowed
and
settled

1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
11 ?,?,
1123
1124
1125
1126
1127
1128
1129
1130
1131
1132
1133
1134
1135
1136
1137
1138
1139
1140

Total
collected
from all
sources,
including
offsets

Loss on
assets comRemaining Assets
pounded Eemaining uncollect- returned
or sold
uncollected ed stock to shareholders'
under
assets
assessagents
order of
ment
court

1,864
7,242
37,578
25,914
4,358
12, 736
6,910
6,388
10,465
5,261

50, 087
120, 597
451,114
223, 420
34, 054
96, 853
87,445
42, 744
97, 290
32, 825

70,955

126, 978
23, 498
309, 332
432, 916
252,488
98, 801
22,189
63, 373
392,957
346, 021
234, 702
22,951
161, 295
166, 275
2, 251, 430
194, 583
395, 767
167, 347
141, 352
91, 635
76, 728
162, 532
113, 467
223,188
28, 278
257, 355
126, 515
475,943
134, 079
9,005
597, 059

355, 261
15, 258
12, 055
31, 370
12, 065
3, 251
8,736

723, 906
134, 449
91, 826
256, 896
62, 352
39, 057
133, 615

100, 706
17, 711
18, 563

541, 547
164, 248
127, 865

13, 877
70, 841
10,947

3, 839

60,180
54,119
2,950
1,828

8,407
10,154
308, 377
25,168
22,114

20, 750
10,000
53,140
34, 760
41,190
13, 950
29,161
14, 500
21, 000
22, 500

263, 546
76, 269
572, 730

7,709

$22, 500
29, 354
37,112
24, 933
34, 700
24, 570
972
18, 500
23, 708
9,750
50,000
44, 997
33, 200

100, 596
98, 038
243, 378
271, 550
189, 834
109, 616
125, 881
89, 842
194, 513
163, 020

12, 000

13,108
2,875
27,503
31,045
17, 573
11, 594
2,551
7,469
85, 489
31,506
23,496
1,431
16, 506
14, 364
109, 580
3,684
50, 983
29,148
24, 477
8,640
11, 419
26, 260
14, 028
17, 445
5,805

$77,638
180,018
253,136
221,300
114, 560
178, 552
247, 263
297, 591
137, 387
58, 739
154,457
115, 384
303, 418

$113
105
13,132
13,216
2,705

4,259
20,029

$39, 882
199, 349
145, 801
126, 598
89, 865
146,145
137,112
172, 212
160,474
17, 235
31,014
23, 944
162, 900

$2,416
27,686
22,176
10,124
17,320
20,084
18,180
17,069
14, 755
1,420

42, 201
40, 900
22, 329
18, 336
38, 788
22,400
19, 825
19,425
24,135
27, 715
43, 000
22, 584
1,900
43, 623
178, 570
22, 960
44,900
38, 200
3,504

489, 929
245, 529
118, 022
171, 389
619, 601
615, 943
537,066
169, 027
257, 792
310,931

16, 781
596
262
1,966
760, 316
5,583
16,006

202,064
647, 574
315,128
283, 748

1,824
10, 076
4,153
2,497

15, 250
40
18, 819
2,000
2,487
1,800

102
5,400

220,965
296,420
156, 793
287, 290
132, 074
212, 386
686, 303
358,379
331, 969
688, 257

24, 782
46, 955
35, 017
46, 590
30, 277

59,462
77,176
189,476
119,959
i

50, 000
74, 700
9,105
38, 425
31,900
42, 894
44,973
140,745
7,710
40,800

62,170
36, 036
60,400
91, 364
*362,433

181, 097
178, 682
51,142
94, 380
1, 817, 602
17, 506
56,040
64, 788
46, 763
116,946

Secured
and preferred
liabilities
including
offsets
paid
$16,636
62,326
62, 743
87, 683
30, 026
56, 689
80, 214
108, 777
87, 581
1,444
31,014
15, 719
71, 226
31,322
25, 908
183, 901
59, 631
18, 882
12, 872
50, 525
13, 287
15, 818
11,483
22,497
13, 785
186, 590
40, 757
129,132
49, 203
14,169
42,669
108, 268
66,180
145, 548
8,244
31,114
49,914
233,927
156, 385
194, 750
29,747
57,901
15, 389
38,984
103, 790
45, 574
44,847
17,123

246, 000
129, 887
273, 062

33, 407
315,969
68, 429
7,196
168, 705

1, 226,121
359,131
201,139
1, 211, 002
218, 708
160, 287
223, 797

56, 740
48, 026
15,950
85, 067
14,955
21, 225
21, 375

463, 750
92, 515
38, 250
120,904
35, 779
23,969
61, 424

1, 840, 325
602, 454
358, 706

141, 250
51, 850
44, 819

363, 608
106, 775
59, 397

* Including dividends paid by purchasing bank.




$11,209
96,876

$20,753
•

Dividends
paid

REPORT OF THE COMPTROLLER OF THE CURRENCY

277

appointment of receiver, and closing, with amounts of nominal and additional
losses on assest, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation
Cash in
hands of
comptroller
and
receiver

Amount
returned
to shareholders
in cash

Amount
of claims
proved

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$1,774
1,671
647
69
4,818
1,669
42
2,537

$3,908
6,233
8,133
5,537
5,465
6,132
6,160
9,135
7,168
1,644

$8,129
32,140
73, 254
7,949
7,350
43,489
49, 069
7,668
32, 911
14,147

2,122

2,909
6,674

5,316
23, 416

$74,827
228,686
238, 360
247,449
117, 554
181, 715
197,003
325,816
151, 294
33, 997
87, 229
24,459
247, 693

834
735
3,609
78
17
292
7
55
152
89

3,154
4,184
11, 037
10,162
4,438
3,875
5,407
3,674
3,914
5,400

14, 777
12, 594
63,091
33, 590
10,717
17,644
31, 506
25, 728
41, 370
15, 853

62, 265
154,355
360, 007
342, 747
180, 546
156,136
81, 955
62, 716
240, 242
109, 932

1,378

36, 873
9,554
21, 505
25, 298
112,384
42, 213
4,949
16,305
89,904
91,421
27, 996
11,738
123,733
14,816
184,278
15, 665
186,017
131, 325
22, 008

242, 721
74, 803
611, 031
467, 601
432,406
273, 283
58, 707
144, 266
738,293
715,910
512,060
112, 958
252, 942
327, 379
1,817, 602
117, 708
733,272
303, 548
287, 672
62, 944
139, 446
215,208
156, 205
391, 371
42,260
301, 754
174, 669
649, 449
230,137

7,721

5,830
159
9,707
4,348
9,300
6,061
2,860
3,954
12,239
9,332
9,730
2,969
5,736
6,900
15, 528
4,978
7,921
5,510
4,975
4,229
5,085
5,130
2,788
4,545
3,030
97
3,512
9,113
4,084
882
13,230

606
2,601
382
20,425
584
20
4,326

8,746
4,825
2,849
7,662
2,830
2,257
3,039

250, 804
34, 508
50, 345
107, 905
23,159
12,811
64, 826

986, 997
318, 624
208, 627
743,189
165, 543
39, 450
220, 079

173

9,001
5,312
2,909

168, 765
52,161
64, 218

1,089,119

Dividends
(per
cent)

Interest
dividends
(per
cent)

Finallyclosed

15
45
10
40
20
15
20

25
M a r . 22,1927

166
80
1,672
1,324
211
445
1,449
406
286
712
265
95
49
7,079
765
428
208
1,652
4,615
85
7
1,827
11

1,341




$7,229
32, 451
51,960
18, 342
52,235
8,040
11,258
89, 589
19,147
61, 555
927
134,341

911,237

50
50
35
40
15
25
15
33.33

25
25
10
30
15
20
100
30
30

20
30

2.93

Oct. 17,1927

1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
1122
1123
1124
1125
1126
1127
1128
1129
1130
1131
1132
1133
1134
1135
1136
1137
1138
1139
1140

278

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—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 to year ended October 81, 1927—Con.

Title and collection of banks

1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1156
1157
1158
1159
1160
1161
1162
1163
1164
1165
1166
1167
1168
1169
1170
1171
1172
1173

Capital
Stock at
suspension

Date of
organization

First National Bank, Grafton, N. Dak
Nov. 14,1882
:
First National Bank, Mansfield, Tex__
_. Mar. 8,1904
Stockmens National Bank, Nampa, Idaho %
Jan. 22,1920
First National Bank, Chowchilla, Calif
Mar. 29,1917
J
Merchants National Bank, Greene, Iowa
June 23,1903
First National Bank, Kennebec, S. Dak
Sept. :
20,1911
First National Bank, Medaryville, Ind
Jan. :
23,1907
First National Bank, Spencer, Iowa
.__
_ May :26,1888
First National Bank, Farmersville, 111
Feb. 4,1911
First National Bank, Lamberton, Minn
Apr. 2,1904
Peoples National Bank, Waukon, Iowa
May 1,1912
First National Bank, East Grand Forks, Minn
Sept. 7,1891
Fayette City National Bank, Fayette City, Pa
May 16,1903
First National Bank, Webster, Pa
June 20,1903
National Bank of Fayetteville, Fayetteville, N. C
Dec. 12,1900
First National Bank, Bishop, Calif
Nov.:21,1916
Citizens National Bank, Waynesburg, Pa
Jan. 15,1890
First National Bank, Corydon, Iowa1
Feb. 16,1912
First National Bank, Sheridan, Ind.1
Apr. 2,1900
First National Bank, Spirit Lake, Iowa
_ June 7,1892
First National Bank, Inwood, Iowa
May :23,1904
First National Bank, Tabor, Iowa
July 1,1891
First National Bank, Hawarden, Iowa2.
June 15,1891
Farmers National Bank, Odell, 111
Nov.:29,1909
Central National Bank^Kearney, Nebr
Jan. 26,1903
City National Bank of Kearney, Kearney, Nebr
Dec. 26,1888
First National Bank, Mallard, Iowa
May 19,1914
First National Bank, Bancroft, Iowa.
Nov. 10,1900
:
First National Bank in Sallisaw, Okla
Jan. 3,1905
First National Bank, Muldrow, Okla
Mar. 25,1911
:
National Bank of La Grange, La Grange, Ind
July 12,1894
First National Bank, Swea City, Iowa
Oct. 24,1900
First National Bank, Milburn, Okla
Jan. 3,1911

$50, 000
25,000
75,000
25, 000
50,000
50,000
25, 000
150,000
25,000
50, 000
125,000
50, 000
75, 000
25, 000
100, 000
50,000
500, 000
75, 000
75,000
50,000
50, 000
25, 000
50, 000
25,000
50,000
100,000
25,000
50,000
50, 000
25, 000
100, 000
25, 000
25, 000

Receiver
appointed

May 25,1927
do
May 27,1927
May 28,1927
June 4,1927
June 20,1927
June 24,1927
June 25,1927
June 29,1927
July 6,1927
July 19,1927
July 28,1927
do___-__.
Aug. 8,1927
Aug. 12,1927
Aug. 15,1927
Aug. 17,1927
Aug. 18,1927
do

Aug. 25,1927
Sept. 6,1927
Sept. 14,1927
Sept. 15,1927
Sept. 21,1927
Sept. 30,1927
do
Oct. 3,1927
Oct. 20,1927
Oct. 24,1927
do
do
Oct. 29,1927
Oct. 31,1927

34,059,500
1

Receiver appointed to complete unfinished liquidation.




3

Restored to solvency*

REPORT OF THE COMPTROLLER OF THE CURRENCY 279
appointment of receiver, and closing, with amounts of nominal and additional
losses on assets, expenses of receiverships, claims proved, dividends paid, and

Nominal assets at date of
suspension

Progress of liquidation
to date of this report

Additional
assets
received
since
date of
Estimated
suspenworthless
sion

Total
assets
and
stock
assessments

Total
assessment of
shareholders

Cash
collected
from
assets

Cash
collected
from
stock
assessments

Estimated
good

Estimated
doubtful

$227, 724
48,437

$450, 675
41, 027

$260, 775
20, 042

$5,603
5, 775

$50,000
25,000

$994, 777
140, 281

$127,414
30,940

$25,133
14,900

43, 316
60,231
19,043
42,447
245,121
62, 718
14
98, 784
279, 559

155, 469
169, 745
134, 982
55, 521
613,042
86, 237
45, 729
473, 901
215,106

62,428
124, 574
8,274
23,168
55, 375
41, 111
57,906
223, 916
45, 609

11,234
1,462
598
1,092
274,277
2,621
582
11,147
2 936

25, 000
50,000
50,000

77, 636
38, 210
3,590
19,992
216, 026
45,663
811
55,035
74, 882

5,500
4,850
1,200

150,000
25, 000
50,000
125.000
50; 000

297,447
406, 012
212, 897
122,228
1, 337, 815
217, 687
154,231
932, 748
593, 210

306,184

330,486

91,002

2,192

50,000

779, 864

70,975

23,747

41, 421

31, 820

4,986

75,000

176,974

7,443

35, 993
2,950
475
28, 425
1,615

3,575

j

!
::::::::::::
110,638,900 115, 615,186

66,497,481

71284°—28




27, 862, 949

!

!
:

::

1
r:~"":~ :~\:::"~:""~

1

"

" 1
i

j
29, 634, 200 |350, 248, 716 137, 984, 668

12, 757? 301

1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1156
1157
1158
1159
1160
1161
1162
1163
1164
1165
1166
1167
1168
1169
1170
1171
1172
1173

280

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 40.—National banks in charge of receivers, dates of organization,
assetSy amounts collected from all sources, loans paid and other disbursements,
remaining assets returned to shareholders to year ended October 31, 1927—Con.
Disposition of proceeds
of liquidation

Progress of liquidation to date of this report

Offsets
allowed
and
settled

1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1156
1157
1158
1159
1160.
1161
1162
1163
1164
1165
1166
1167
1168
1169
1170
1171
1172
1173

Total
collected
from all
sources,
including
offsets

Loss on
Remaining Assets
assets compounded Remaining uncollect- returned
uncollected ed stock to shareor sold
assets
assessholders'
under
ment
agents
order of
court

Dividends
paid

Secured
and preferred
liabilities
including
offsets
paid

$800,184
72,173

$24, 867
10,100

174,120
308,038
155, 782
100,084
883, 550
146,059
103,420
718,657
457,275

19, 500
45,150
48,800
114,007
22,050
49, 525
96, 575
48,385

100,267

629, 597

50,000

29,396

11,018

94,531

71,425

3,101

120,992,353

16,876,899

$17,179
12,168

$169, 726
58,008

20,691
187
3,525
2,152
68,839
965
24,872
11,053

103,827
43, 247
8,315
22,144
320,858
49, 578
1,286
108,332
87,550

29,292

20,793,835

$9, 577
19,400
9,184

171, 535,804 40,804,421




$29, 061

$17, 387
'12,168
63,805
28,123
4,446
10,023
73,189
42,919
50,182
25,551

$39,239

62,869,156

81,803, 512

REPORT OF THE COMPTROLLER OF THE CURRENCY

281

appointment of receiver, and closing, with amounts of nominal and additional
losses on assest, expenses of receiverships, claims proved, dividends paid, and

Disposition of proceeds of liquidation
Cash in
hands of

Cash
advanced
in protection
of assets

Receiver's
salary,
legal, and
other
expenses

$98

$4,753
2,355

$147,488
14, 424

2,528
3,390
1,376
1,179
5,069
1,561
135
2,222
2,155

36, 610
11, 512
2,493
10,942
239, 763
5,098
1,151
55,844
59,137

2,826

Amount
returned
to shareholders
in cash

Amount
of claims
proved

Dividends
(per
cent)

Interest
dividends
(per
cent)

Finally
closed

68, 045

884
222
2,837
84
707

comptroller
and
receiver

$634,270
58,124

50

July 15,1927

193, 651
50, 555
703,863
318,953
252, 077

76, 913

7,917

Sept. 26,1927

3,121, 570

9,988,538

13, 391,954




$361,074

187,254,275

1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1156
1157
1158
1159
1160
1161
1162
1163
1164
1165
1166
1167
1168
1169
1170
1171
1172
1173

282

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 41.—National ba?iks restored to solvency after having been placed in
charge of receivers
Receiver
appointed

Title and location of bank
111
163
200
203
208
209
215
220
223
224
232
233
242
300
318
343
374
401
403
416
417
418
473
498
507
529
539
644
550
553
555
556
561
562
566
572
584
595
604
608
609
622
627
631
636
637
639
641
647
690
705
712
730
750
786
790
792
793
826
828
900
940
953
956
1056
1086
1143
1163

Abington National Bank, Abington, Mass
Farley National Bank, Montgomery, Ala
First National Bank, Arkansas City, Kans
City National Bank, Brownwood, Tex.
Citizens National Bank, Spokane Falls, Wash
First National Bank, Philipsburg, Mont_ _
Bozeman National Bank, Bozeman, Mont
Montana National Bank, Helena, Mont
First National Bank, Great Falls, Mont
First National Bank, Kankakee, Hl__
First National Bank, Orlando, Fla
Citizens National Bank, Muncie, Ind
First National Bank, Fort Angeles, Wash
State National Bank, Denver, Colo
American National Bank, Denver, Colo
First National Bank, Sioux City, Iowa
Hampshire County National Bank, Northampton, Mass
Seventh National Bank, New York, N . Y
First National Bank, Austin, Tex
Bolivar- National -Bank, -Bolivar, Pa_
- •
• • -

-

Federal National Bank, Pittsburgh, Pa
First National Bank, Allegheny, Pa
First National Bank, Brooklyn, N. Y
Union National Bank, Sommerville, Pa
First National Bank, Burnside, Ky
First-Second National Bank, Pittsburgh, Pa
Marion National Bank, Marion, Kans
First National Bank, Gallatin, Tenn
American National Bank, Pensacola, Fla
First National Bank, Islip, N. Y
Farmers and Merchants National Bank, Mount Morris, Pa.
Union National Bank, Providence, Ky
First National Bank, Perry, Ark...
Third National Bank, Fitzgerald, Ga
Wharton National Bank, WTharton, Tex
First National Bank, Casselton, N. Dak
First National Bank, Daytona, Fla.
First National Bank, Killeen, Tex
First National Bank, Streeter, N. Dak
State National Bank, Carlsbad, N. Mex
Nocona National Bank, Nocona, Tex
First National Bank, Tombstone, Ariz
First National Bank, Lafayette, Colo
First National Bank, Polar, Mont.
First National Bank, Lawton, Okla
National Bank of Hastings, Hastings, Okla
First National Bank, Mohall, N. Dak
First National Bank, Ackerman, Miss
Merchants National Bank, Ada, Okla.
First National Bank, Watts, Calif
First National Bank, Wetumka, Okla
_
_
First National Bank, Tower City, N. Dak__
Milnor National Bank, Milnor, N. Dak
First National Bank, Spanish Fork, Utah
Citizens National Bank, Jamestown, N. Dak
Citizens National Bank, Sisseton, S. Dak
Farmers National Bank, Red Oak, Iowa
Powell National Bank, Powell, Wyo
First National Bank, Walhalla, N. Dak
City National Bank, McAlester, Okla
First National Bank, Volant, Pa
First National Bank, Libby, Mont
Farmers National Bank, Laurens, S. C.
._
First National Bank, Hardin, Mont
First National Bank, Steele, N. Dak__
First National Bank, Granger, Tex
Stockmans National Bank, Nanipa, Idaho
First National Bank, Hawarden, Iowa
Total, 68 banks

Aug. 3,1886
Oct. 7,1891
June 15,1893
June 20,1893
. . . July 1,1893
July 8,1893
July 23,1893
Aug. 2,1893
Aug. 5,1893
do
Aug. 14,1893
do
Oct. 5,1893
Aug. 24,1895
July 26.1896
Jan. 7,1897
May 23,1898
June 27,1901
;
Aug. 3,1901
• o c t . 1,1903
Oct. 21,1903
Oct. 22,1903
Oct. 25,1907
Oct. 16,1908
Sept. 17,1909
July 7,1913
Jan. 12,1914
Mar. 25,1914
Sept. 2,1914
Dec. 30,1914
Feb. 4,1915
Feb. 12,1915
May 17,1915
June 3,1915
July 29,1915
Dec. 6,1915
Apr. 16,1917
Nov. 16,1920
Feb. 16,1921
Mar. 19,1921
Mar. 25,1921
Aug. 25,1921
Sept, 16,1921
Nov. 9.1921
Dec. 12.1921
Dec. 22,1921
Jan. 4,1922
Jan. 12,1922
Feb. 20,1922
June 20,1923
Oct. 2,1923
Nov. 7,1923
Nov. 28,1923
Jan. 28,1924
Mar. 21,1924
Mar. 24,1924
Mar. 27,1924
do
June 23,1924
June 24,1924
Mar. 7,1925
Oct. 6,1925
Nov. 21,1925
Nov. 27,1925
Nov. 23,1926
Jan. 12,1927
May 27,1927
Sept. 15,1927

Capital
stock
$150, 000
100, 000
125,000
150,000
150,000
50,000
50,000
500,000
250,000
50,000
150,000
200,000
50,000
300,000
500,000
100,000
250,000
500, 000
100,000
30,000
2,000,000
350,000
300,000
50,000
25,000
3,400,000
25,000
50,000
300,000
25,000
25,000
25,000
25,000
50, 000
30, 000
50,000
50,000
50,000
25,000
75,000
50,000
25, 000
25,000
25,000
200,000
25,000
25,000
25,000
100,000
50,000
40, 000
50,000
30,000
25,000
50,000
50,000
60,000
40,000
25,000
50,000
25,000
40,000
50,000
65,000
25,000
35,000
75,000
50,000
12,020,000

NATIONAL BANKS WHICH FAILED SUBSEQUENT TO SOLVENCY

Citizens National Bank, Spokane Falls, Wash.1
Dec. 3,1894
First National Bank, Port Angeles,1Wash.*
Apr. 26,1895
Nov. 29,1895
First National Bank, Orlando, Fla.
Oct. 19,1899
First National Bank, Arkansas City, Kans.1...
12
Ben Hill National Bank, Fitzgerald, Ga.1
_. Mar. 6,1916
State National Bank, Carlsbad, N. Mex.
Aug. 25.1924
First National Bank, Mohall, N. Dak.1
Jan. 22.1925
1
First National Bank, Lawton, Okla.1
Nov. 18.1922
First National Bank, Poplar, Mont. 1
_
_
Dec. 17.1923
First National Bank, Ackerman, Miss. ._ 1
_. Nov. 12.1926
Farmers and Merchants National Bank, Mount Morris, Pa.
Feb. 21.1927
Total, 11 banks.
1
2

Second failure.
Formerly "Third National Bank."

271
291
304
386
575
608
639
661
736
1048
1110

150,000
50,000
85,000
100,000
50,000
75,000
25,000
200,000
25,000
25,000
25,000
810,000

REPORT OF THE COMPTROLLER OF THE CURRENCY

283

TABLE N O . 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November I , 1927
Dividends paid during the year
Name and location of bank

Date of appointment of
receiver

Date

National Bank of Abbeville, Abbeville, Feb. 7,1925 Dec. 30,1926
S. C.
First National Bank, Ackerman, Miss_._ Nov. 12,1926 Aug. 9,1927
First National Bank, Ada, Minn-

Feb. 10,1926

First National Bank, Adair, Iowa_

Dec. 27,1926

First National Bank, Adrian, Minn
First National Bank, Akron, Colo

Aug. 16,1926
Aug. 26,1926

Sept. 30,1927
do
Dec. 9,1926
Feb. 23,1927
Mar. 16,1927
do
May 18,1927
June 6,1927
July 18,1927
Sept. 21,1927
Mar. 3,1927
June 17.1927
June 30,1927
Oct. 21,1927
Sept. 19,1927

Citizens National Bank, Albert Lea, Feb. 18,1927
Minn.
First National Bank, Alexander, N. Dak_ Apr. 15,1924 June

Amount

i $788. 70
8,233. 54
3,294.16
13.05
102,219. 68
1 1,303.17
41,636. 32
i 572. 05
16,328. 74
i 656. 44
i 7, 797. 14
i 280. 37
31,142. 68
1163. 54
22, 512. 79
1 8,373. 86
181,097. 28

Per
cent

Total
dividends
paid to
creditors
(per
cent)
80

35

35

10
~15

10
25

6,1927
l 502. 90
Aug. 11,1927
18.12
10
Dec. 13,1926
83, 068. 57
10
do
1 596. 88
i 545. 64
Mar. 3.1927
40
l 12, 658. 38
Nov. 24,1924 Dec. 9,1926
First National Bank, Algona, Iowa
l 2,194. 48
Apr. 22,1927
25
51,142. 17
Feb. 19,1927 Aug. 25,1927
10
First National Bank, Allegan, Mich
Dec. 3,1924 Mar. 7,1927
1 156. 27
First National Bank, Allendale, S. C
May 2,1927
15
1 5. 37
Nov. 7,1924 Oct. 8,1927
1 83. 38
20
First National Bank, Alma, Wis.
Dec. 3,1926 Mar. 28,1927
79, 631.17
First National Bank, Alta, Iowa..
May 6,1927
41,132. 05
do
1 2, 631.49
June 17,1927
i 912. 65
Sept. 7,1927
62, 267. 50
15
do
i 227. 49
45
1 405. 00
Mar. 4,1922 Nov. 2,1926
State National Bank, Ardmore, Okla
~45
39, 670. 42
Mar. 3.1927
Apr. 17,1925 Dec. 21,1926
Georgia National Bank, Athens, Qa
i 1,959. 79
1 1,167.91
Dec. 28,1926
i 426. 71
June 10,1927
10
i 116. 93
Aug. 29,1927
15
American National Bank, Atoka, Okla___ Nov. 1,1926 June 30,1927
12,140. 85
10
Apr. 10,1925 Mar. 3,1927
First National Bank, Bamberg, S. C
i 23. 88
First National Bank, Bandon, Oreg
_ Apr. 13,1925 Mar. 18,1927
21,134. 58
i 241. 08
do
14,089. 72
May 3,1927
70
i 180. 67
do_
June 22,1926 Nov. 22,1926
43, 293. 02
First National Bank, Barnsdall, Okla
* 6,928. 33
Dec. 16,1926
i 2,427. 45
May 26,1927
i 128. 05
Aug. 15,1927
20
40,117. 20
Aug. 16,1927
45
i 4,619.11
Oct. 29.1927
Dec. 3,1924 Mar. 7.1927
30
1 7.95
First National Bank, Barnswell, S. C
June 14,1924 Nov. 23, 1926
10 I
21, 565.30
First National Bank, Basin, Wyo
1 106. 75
May 6,1927
65
10, 789.95
June 1,1927
Jan. 21,1927 June 7,1927
33,978. 73
First National Bank, Beardsley, Minn
15
i 2, 057.49
Aug. 23,1927
Nov 13,1923 Dec. 9,1926
Union National Bank, Beloit, Kans
1 1,015. 05
1 59, 55
Feb. 23,1927
1 156. 65
June 30,1927
i 13.32
Oct. 11,1927
Peoples National Bank, Bennettsville, July 27,1926 Aug. 23,1927
18,897.42
10
Aug.
S.C.
First National Bank of Benson, Hoi- Mar. 28,1927 Oct. 21,1927
61,134.13
35
sopple, Pa.
i Represents payments made during the year on additional claims on account of dividends previously
declared.

First National Bank, Alexandria, Minn.. Jan.




8,1925

284

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

First National Bank, Biggsville, Ill_

Date of appointment of
receiver

Jan. 31,1927

First National Bank, Big Sandy, Mont_
First National Bank, Bisbee, N. Dak. _

July 7,1923
Jan. 28,1924

City National Bank, Bismarck, N. Dak.

Oct. 13,1926

First National Bank, Blue Mound, I l l Edwards National Bank, Booker, Tex__.
First National Bank, Boyceville, Wis. _

Mar. 27,1926
Dec. 12,1921
Jan. 18,1927

First National Bank, Brandon, Minn__. Nov. 11,1926
First National Bank, Bridgewater, S. July 18,1924
Dak.
First National Bank, Bristow, Nebr
Mar. 24,1924
First National Bank, Britt, Iowa
Feb. 1,1927
Farmers National Bank, Brookings, S.
Dak.

Dec. 3,1926

First National Bank, Brookings, S. Dak.
First National Bank, Brooklyn, Iowa...

Feb. 9,1924
Dec. 4,1925

Stockmens National Bank, Brush, Colo.

Mar. 1,1926

First National Bank, Buena Vista, Ga_

Jan. 26,1925

First National Bank, Buffalo, Minn

Oct. 17,1925

First National Bank, Buffalo, Okla
First National Bank, Buhl, Idaho

Dec. 27,1924
Mar. 26,1925

Burgettstown, National Bank, Burgettstown, Pa.

M a y 14,1925

First National Bank, Burley, Idaho
Farmers National Bank, Burlington,
Kans.

Nov. 30,1921
M a y 21,1924

Farmers and Merchants National Bank,
Cannon Falls, Minn.
National Bank of Carlsbad, Carlsbad,
N. Mex.
First National Bank, Carlyle, Mont
First National Bank, Carnegie, Pa
First National Bank, Carrol, Nebr
First National Bank, Carter, Mont

Dec. 17,1925

Jan.
7,1927
M a y 12,1925
Aug. 13,1923
N o v . 11,1923

First National Bank, Carthage, S. Dak..

Feb. 12,1924

First National Bank, Cavalier, N. Dak..

Feb. 21,1925

Feb.

6,1924

Date

M a r . 25,1927
Apr. 13,1927
M a y 9,1927
M a y 21,1927
J u n e 1,1927
J u l y 15,1927
M a r . 5,1927
Dec. 7,1926
M a r . 16,1927
Oct. 21,1927
M a y 9,1927
do
M a y 20,1927
J u n e 23,1927
J u l y 27,1927
Aug. 29,1927
Dec. 1,1926
Sept. 30,1927
F e b . 19,1927
J u n e 30,1927
Oct. 11,1927
Sept. 9,1927
N o v . 24,1926
do
M a r . 2,1926
J u n e 28,1927
Aug. 25,1927
M a y 23,1927
July 1,1927
Aug. 15,1927
Sept. 6,1927
do
Aug. 11,1927
Jan.
8,1927
J u n e 30,1927
J u l y 1,1927
Jan.
8,1927
do
J u n e 17,1927
do
Apr. 13,1927
do
Dec. 7,1926
Dec. 16,1926
A p r . 19,1927
Sept. 27,1927
N o v . 22,1926
J a n . 21,1927
Oct. 8,1927
M a r . 21,1927
J u n e 10,1927
Oct. 19,1927
M a r . 25,1927
Jan.
8,1927
F e b . 23,1927
J u l y 26,1927
M a y 27,1927
Sept. 14,1927
M a r . 25,1927
Aug. 29,1927
Oct. 8,1927
N o v . 17,1926
J a n . 19,1927
Dec. 30,1926
do__
Aug. 4,1927
do__
Dec. 28,1926
do
Jan.
3,1927
do._

Amount

$7,500.00
8, 500. 00
5,000.00
5,000. 00
6, 500. 00
8, 000. 00
4, 388.36
19,886. 67
1999. 88
1153. 21
413,052. 52
34,471.11
135,059.62
11,881. 06
1728.36
1447. 32
15,278.44
12,904.13
10,195. 29
62,170.24
1282. 87
26,179. 29
21,106. 93
U63.ll
8,335. 73
85,436. 41
15,928.20
169,138.94
116,762.14
12,822.23
75,607. 29
1291. 09
1428.74
145,175.18
58,274.96
11,125. 29
20,813. 29
1971. 75
21,122.08
1926.37
7,831.11
1309.67
12,511. 43
121,548. 45
1216.36
23,294. 70
1139. 94
1615.18
1406.88
12,207.52
1240. 00
164,507. 56
1 31,957. 03
l 632. 46
l 372. 21
l 246.87
31, 552. 25
1 41. 82
l 348. 75
l 1, 544. 75
13,617. 42
1.01
1 1,018. 80
4,016.84
1 409. 98
2, 578. 60
l 35.59
20,611. 70
i 69.95
53,789.17

Per
cent

79.6
9
10
H00
860

Total
dividends
paid to
creditors
(per
cent)

79.6
9

"16

a 100
8 60
15
17.62
40
10
10

5.75
15

15
37.62
40
20
60
45.75
15

25
10
35
10
25
10
35
10

"16"
"16"

40

16"'

20

"16"

50
10
15

10

70
5.95
30

10

40

"26"'
10
40
70
6

10

36.5
......

~45~"
1 Represents payments made during the year on additional claims on account of dividends previously
declared.
2
To nonassenting creditors in accordance with agreement.
8
To assenting
 creditors in accordance with agreement.


EEPORT OF THE COMPTROLLER OF THE CURRENCY

285

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

Date of appointment of
receiver

Date

Amount

Per

Total
dividends
paid to
creditors
(per
cent)

i $543.69
Dec. 3,1924 May 6,1927
Aug. 11,1927
144.00
50
Farmers National Bank, Chandler, Okla. Apr. 10,1925 Apr. 6,1927
37,037.90
do
i 208. 66
"55"
Commercial National Bank, Charles- Feb. 7,1925 Jan. 26,1927
105,205.65
Feb. 1,1927
ton, S. C.
1 796. 24
May 5,1927
20
5, 799.81
First National Bank, Charlo, Mont
Feb. 20,1924 Mar. 2,1927
71
422., 419. 50
July 9,1924 Jan. 3,1927
First National Bank, Cheyenne, Wyo__.
do.
1131. 51
l 7,917.11
June 27,1927
45
106,312.02 20
Clarinda National Bank, Clarinda, Iowa. Nov. 29,1926 May 23,1927
20
l 4,838. 00
First National Bank, Clarkston, Wash_. Feb. 12,1924 Jan. 28,1927
60
5,727. 62 ~6.75~
City National Bank, Clarksville, Tex__. Mar. 9,1925 Nov. 13,1926
l 12. 31
Dec. 30,1926
106.75
l 12.03
First National Bank, Clayton, N . Mex.. Mar. 1,1924 Dec. 14,1926
10
14,922. 51
First National Bank, Clearbrook, Minn. Nov. 2,1926 Mar. 30,1927
15
First National Bank, Clear Lake, S. May 25,1925 Jan. 19,1927
14.24
35,768.55
May 16,1927
Dak.
25
l 200. 53
National Bank of Cleburne, Tex
Oct. 27,1921 May 18,1927
i 739.77
Sept. 9,1927
i 2,366.71
Home National Bank, Cleburne, Tex
Dec. 28,1925 Nov. 10,1926
Dec. 14,1926
14,430. 61 10
Mar. 25.1927
1189. 79
Sept. 16,1927
14,024. 22
35
22,238.79
First National Bank, Clifton, Ariz
Apr. 2,1923 May 20,1927
15
1.30
First National Bank in Clovis, N . Mex._ Sept. 4,1924 Nov. 22,1926
May 26,1927
1 538. 28
June 3,1927
i 200.00
July 25,1927
1 980. 00
Aug. 29,1927
20,356.45 15
Sept. 22,1927
i 115.30
55
15.00
First National Bank of Clovis, N . Mex__ Feb. 20,1924 Nov. 22,1926
May 26,1927
i 10. 50
Sept. 15,1927
6,039.01
29
8,726. 48
City National Bank, Coalgate, Okla
Nov. 8,1923 Mar. 7,1927
5
46,589. 54
Jan. 5,1927 Sept. 9,1927
First National Bank, Collinsville, Okla..
Oct. 29,1927
1 3,759.82
15
First National Bank, Colman, S. Dak__. Aug. 19,1926 May 14,1927
29,727.24
10
First National Bank, Columbia City, Mar. 31,1927 Aug. 18,1927
225,965.92
Aug. 23,1927
Ind.
i 40,000. 00
Sept. 16,1927
1 7,096. 34
30
Liberty National Bank of South Caro- Mar. 4,1926 May 13,1927
306,019. 64 84.22
June 24,1927
lina, Columbia, S. C.
110,710. 00
.0178 '84.-2378
Stockmens National Bank, Columbus, Jan. 7,1925 Nov. 12,1926
19,601. 24 15
Apr. 14,1927
Mont.
i 1,180.11
"IE
First National Bank, Colusa, Calif
Nov. 22,1922 Nov. 10,1926
1 12,261. 87
Mar. 2,1927
l 52. 44
Mar. 10,1927
48,868. 20 20.75
50.75
First National Bank, Conyers, Ga
May 12,1925 Feb. 19,1927
20
17,330. 24 10
Corona National Bank, Corona, Calif
Nov. 10,1925 Mar. 15,1927
1,032.15 3.35
28.05
Corydon National Bank, Cory don, Ind-. Mar. 8,1922 Aug. 8,1927
70
l 4,830. 00
First National Bank, Covington, Ga
Dec. 8,1925 Dec. 6,1926
144.09
Dec. 9,1926
15,459. 38
May 14,1927
15,506. 71
do.
17.65
45
First National Bank, Crandon, Wis
May 29,1925 Nov. 18,1926
i 9,275.69
Oct. 21,1927
11,627.78
25
First National Bank, Crookston, Minn.. Mar. 24,1924 Dec. 28,1926
108,173. 66
Mar. 2,1927
118. 90
"73"
Citizens National Bank, Crosby, N. Dak Nov. 21,1923 Nov. 8,1926
1 1, 802. 68
Mar. 2,1927
1 538. 07
Mar. 16,1927
33,370. 58 22.1
57.1
First National Bank, Crystal, N. Dak_ _. Feb. 7,1925 Sept. 26,1927
25,065. 59 10
.do.
i 66. 54
20
First National Bank, Cumberland, Iowa. July 22,1926 Dec. 14,1926
33, 708.19 25
Jan. 24,1927
1 543.11
Mar. 16,1927
1 178. 02
May 2,1927
20,683. 23
do.
1 42. 71
June 17,1927
l 291. 78
Aug. 18,1927
l 87. 26
Sept. 30,1927
l 847. 71
40
1
Represents payments made during the year on additional claims on account of dividends previously
declared.

First National Bank, Center, Tex



286

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

Davenport National Bank, Davenport,
Wash.
First National Bank, Deep Eiver, Iowa-

Date of appointment of
receiver

Nov. 17,1925

Mar. 25,1926

Date

Dec. 28,1926
do
Aug. 16,1927
Aug. 18,1927
Nov. 10,1926
.do.
Mar. 30,1927

— -o
d
First National Bank, Delano, Calif-

Jan. 14,1927

First National Bank, Delano, Minn

Dec. 12,1925

First National Bank, Dell Rapids,
S. Dak.
First National Bank in Deming, N. Mex.

Sept. 26,1925

Broadway National Bank, Denver, Colo.

Jan. 16,1926

Mar. 4,1924

Drovers National Bank, Denver, Colo

Dec. 24,1925

Globe National Bank, Denver, Colo

Oct.

1,1925

First National Bank, Desdemona, Tex. Apr. 7,1921
De Smet National Bank, De Smet, S. July 6,1926
Dak.
First National Bank, Detroit Lakes, Nov. 23,1926
Minn.
Merchants National Bank, Detroit June 22,1925
Lakes, Minn.
First National Bank, Devol, Okla
First National Bank, Dinuba, Calif

Aug. 8,1927
July 27,1927
Aug. 29,1927
Dec. 7,1926
Dec. 21,1926
Apr. 20,1927
Apr. 22,1927
July 14,1927
Aug. 4,1927
Nov. 2,1926
June 1,1927
Nov. 10,1926
Dec. 9,1926
Mar. 2,1927
July 29,1927
Sept. 30,1927
Nov. 22,1926
Dec. 20,1926
Dec. 30,1926
Feb. 23,1927
Mar. 15,1927
Mar. 25,1927
May 28,1927
Aug. 11,1927
Nov. 4,1926
Dec. 6,1926
Dec. 9,1926
Dec. 27,1926
Feb. 1,1927
Mar. 2,1927
May 6,1927
June 18,1927
June 30,1927
July 7,1927
July 29,1927
Sept. 9,1927
Sept. 20,1927
Oct. 29,1927
Dec. 21,1926
Mar. 2,1927
Mar. 21,1927
Sept. 20,1927
May 9,1927
June 23,1927
July 22,1927
do
Oct. 21,1927
Mar. 3,1927

Sept. 20,1927
Sept. 26,1927
do
Sept. 17,1925 Dec. 31,1926
July 26,1927
Aug. 25,1927
July 9,1926 Nov. 17,1926
Jan. 7,1927
Apr. 8,1927
July 21,1927
Oct. 17,1927
Mar. 25,1927 July 26,1927
Aug. 29,1927
Jan. 21,1924 May 12,1927

Amount

$60,494,49
i 728. 50
40,419. 64
i 359. 94
15,181.37
11,256. 89
15,439. 05
1 580.18
1.1.6
175,401. 30
114, 074. 50
1 4,408.13
41,253. 88
1 5,800. 00
l 4,924. 47
l 96. 75
1 16. 32
1 52.14
25,448. 67
U,557.77
195, 273 45
i 2, 203. 75
1 918. 79
195,635. 68
i 2,665. 68
1 1,079. 27
12,360.69
i 3,900. 36
i 1,228. 96
1 2,298. 76
i 607.43
i 753. 34
l 25,437.18
358, 619. 23
i 3,797. 55
17.71
1 3, 509. 92
1 1, 649. 94
i 6,076. 35
167,594. 76
1 194, 643.01
i 5, 748.03
l 2, 598. 61
1 990.00
l 944.42
2,154. 76
23, 420. 69
1 6, 401. 75
1 7, 006. 32
l 865. 98
58, 639.12
i 734.24
59,484.37
l 311.53
1 677.72
47,655.24
1119.75
1335.71
47,745.93
127.03
6,525.16
1 407. 56
3,466.02
15,000.00
28,000.00
10,000.00
5,000.00
7,000.00
114, 646. 80
1 2, 298.63
4,200.46

Per
cent

Total
dividends
paid to
creditors
(per
cent)

15

"16"

50

20

"26"'
66

50
~50~"

"26"
60
"25"

7.2
'"16"""
10

70

10

10

1.75

10

10

45
11.75

10

"16"
10

10
"26"'

10

20

50
30

32.4
44.8

United States National Bank, Dinuba,
30
Calif.
30
First National Bank, Dodson, Mont
"§.Y
3.6
1 Represents payments made during the year on additional claims on account of dividends previously
declared.




KEPORT OP THE COMPTROLLER OF THE CURRENCY

287

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

Date of appointment of
receiver

Date

Drovers National Bank, East St. Louis, May 22,1924 May 18,1927
111.
First National Bank, Edgeley, N. Dak.. Jan. 31,1927 Aug. 11,1927
Oct. 29,1927
Aug. 6,1926 Mar. 10,1927
First National Bank, Eldorado, 111
Mar. 25,1927
June 17,1927
Sept. 9,1927
First National Bank, Elkton, S. Dak__. Dec. 3,1926 Aug. 29,1927
City National Bank, El Paso, Tex
May 8,1924 Nov. 23.1926
Mar. 9,1927
First National Bank, Estherville, Iowa.. Feb. 27,1926 Feb. 19.1927
Mar. 23,1927
Apr. 15,1927
June 17,1927
First National Bank, Excelsior Springs, Jan. 24,1925 Jan. 19,1927
Mo.
Farmers & Merchants National Bank, Mar. 15,1924 July 29,1927
Fairbury, Nebr.
First National Bank, Fairfax, S. C
Apr. 1,1927 Sept. 12,1927
National Security Bank, Fairfax. S. C__. Oct. 1,1926 Oct. 8,1927
First National Bank, Fairview, Mont... Nov. 8,1923 May 28,1927
May 22,1925 Sept. 27,1927
First National Bank, Florence, S. C
First National Bank, Forest City, Iowa. Nov. 14,1925 Apr. 6,1927

Sept. 19,1927
do.
Dec. 7.1926
Stockmens National Bank, Fort Benton,
Feb. 23,1927
Mont.
Mar. 7.1927
May 5, 1927
Aug. 8,1927
First National Bank, Fort Surnner, Feb. 26,1924 Feb. 19,1927
Oct. 11,1927
N. Mex.
First National Bank, Frankfort, S. Dak_. Apr. 12,1926 Feb. 19,1927
Aug. 4,1927
National Bank of Franklin, Franklin, Oct. 18,1926 Aug. 25,1927
Feb. 26,1924

Tenn.
Warren National Bank, Franklin, Ohio.. Mar. 11,1927 Aug. 26,1927
First National Bank, Fulton, Mo

First National Bank, Gering, Nebr
First National Bank of Gilmore, Gilmore City, Iowa.

do
__.
Mar. 23,1927
May 6,1927
June 10,1927
July 20,1927
Sept. 26,1927
Feb. 26,1924 July 1,1927
Jan. 18,1926 Nov. 2,1926
do
Oct. 21,1927
Apr. 24,1926

Glasgow National Bank, Glasgow, Mont. Dec. 29,1925 Dec. 28,1926
First National Bank, Glen wood, Minn.. July 14,1926

First National Bank, Granada, Minn... May 29,1926

Mar. 12,1927
Sept. 9,1927
Dec. 31,1926
Mar. 12,1927
Mar. 15,1927
May 20,1927
do.

Aug. 23,1927
Nov. 10,1926
Dec. 31,1926
.....do

Jan. 8,1927
Jan. 26,1927
Mar. 5,1927
do.
Dec. 9,1922 Apr. 27,1927
do
M a r . 31,1927 Oct. 21,1927

Commercial National Bank, Great Falls,
Mont.
American National Bank, Green City,
Mo.
First National Bank, Greensboro, Ga—. Jan. 9,1926 Mar. 25,1927

Mar. 28,1927

1

Amount

Per
cent

i $11,923.91
60, 399. 56
i 282. 42
51.152. 38
i 17; 892. 87
1 14, 748. 92
1 24,149. 51
48, 794. 01
5565 333. 23
1.03
50,897.16 10
1 151. 94
1
1,026. 94
1 597. 30
l 1, 548. 07
i 632.80
9,548.87
20, 465. 63
1 2, 671. 22
61, 334. 64
1 2, 933. 69
53, 332. 53
1 115. 79
1 286. 97
1 49. 55
84.943. 20 20
1 916. 71
1 2, 822. 31
7, 429. 65 10
1
15. 07
13,140.44
136.41.
21,687.96 16
62, 337.12 100
1, 825. 58
2.9285
151, 372. 74 60
1
410. 38 I
1 193. 95
25, 326. 25 10
1 100. 50
l 1, 440. 97
19, 220. 33 10
1 106. 02
19, 296.16 10
1151. 66
31,822. 21 20
1 2,156. 70
1 1, 254. 59
34,396. 97 20
1 1, 656. 44
18,026. 71
18, 244. 30
1
652. 78
1 1, 343. 28
1 742. 73
10, 509. 05 20
* 2,431. 76
l 1,360. 90
I 1,633. 82
12,047. 36 20
1 81. 90
146,150. 22 10
1 2,455 4r
46,201.65 20
1 998. 85
19,122. 05

Total
dividends
paid to
creditors
(per
cent)
70

25

30
20

10
50
50

19
50
10
15
19

60
"55"
5

10
102. 9285

70
10

30
"20"

40

60
25
20
20

Represents payments made during the year on additional claims on account of dividends previously
declared.




288

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

Commercial National Bank, Greenville,
Tex.
Merchants National Bank, Grinnell,
Iowa.
First National Bank, Groom, Tex
Texas County National Bank, Guymon,
Okla.
First National Bank, Hallock, Minn
First
First
First
First
First

National Bank, Hampton, Ga
National Bank, Harlowton, Mont.
National Bank, Harrington, Wash.
National Bank, Haworth, Okla
National Bank, Hay den, Colo

First National Bank, Hemingford, Nebr.
Farmers National Bank, Hempstead,
Tex.
First National Bank, Henryetta, Okla._
Miners National Bank, Henryetta, Okla.

Date of appointment of
receiver

Amount

Per
cent

Aug. 8,1927
Sept. 9,1927
Feb. 23,1927

* $2, i l l . 60
67,009. 64
i 844.09

10

Oct. 6,1924 Nov. 18,1926
do
Nov. 13,1923- Nov. 9,1926
do
Sept. 20,1927
Oct. 16,1925 Mar. 21,1927
Apr. 19,1927
Jan. 27,1925 Dec. 14,1926
Mar. 7,1923 July 8,1927
Aug. 6,1924 May 27,1927
Nov. 2,1926 July 29,1927
June 16,1926 Dec. 9,1926
Feb. 1,1927
do...
Nov. 10,1923 Dec. 28,1926
do...
Feb. 7,1925 Jan. 8,1927
May 12,1927
July 11,1927
July 31,1923 Feb. 28,1927
Mar. 2,1927
May 5,1927
Dec. 21,1923 Jan. 15,1927
May 14,1927
do
Dec. 6,1926 May 28,1927
Aug. 8,1927
Jan. 15,1925 Mar. 25,1927

9, 868.44
i 2,448.17
27, 676. 08
i 107. 82
i 2,124. 59
1
6, 673. 74
39, 594. 96
8, 600. 92
i 243. 47
1
301. 11
840.13
22, 721. 91
11,444. 01
1 166.12
29, 876.17
1 279. 81
17, 555.16
1103. 27
17,571. 05
63,331. 68
1
229. 37
* 71. 49
i 73. 02
20, 372. 50
* 82. 97
93,787.17
*7,737. 54
23,813. 58

Dec. 7,1926
Mar. 3,1927
Mar. 25,1927
June 17,1927
Mar. 21,1927
June 17,1927
do
Nov. 29,1926
Mar. 14,1927
Mar. 21,1927
Apr. 29,1927
Aug. 26,1927
do
Sept. 9,1927
Jan. 15,1927
Sept. 21,1927
Dec. 9,1927
Mar. 25,1927
do
Mar. 30,1927
Feb. 28,1927
Mar. 7,1927
Sept. 26,1927
Sept. 30,1927
Oct. 7,1927
Apr. 2,1927
do..
July 7,1927

»3,792.12
i 156. 23
33, 644. 69
1195. 38
1
2,015. 88
15,982. 25
1
77. 18
1
116. 62
» 19,056. 02
1
1, 282. 42
1462.43
75, 730. 84
1
119. 67
1
161. 27
i 802. 71
1
84. 47
1
44. 57
22,090. 32
1 91. 14
2, 938. 04
1
2, 617. 28
28, 663. 71
i 332. 48
1166. 24
i 5.51
5,799.10
1 496. 76
114,949, 62

Apr.

6,1925

Nov. 12,1924

Planters National Bank, Honey Grove,
Tex.
Peoples National Bank, Hot Springs,
S. Dak.
First National Bank, Howard, S. D a k . . . . Nov. 24,1925
City National Bank, Hugo, Okla..

June

Hugo National Bank, Hugo, Okla.

May 12,1925

5,1925

First National Bank, Huron, S. Dak

Mar. 14,1924

First National Bank, Idabel, Okla

Feb.

First National Bank, Intake, Mont
First National Bank, Jefferson, Iowa

Apr. 7,1926
Dec. 23,1925

City National Bank, Jerome, Idaho

18,1925

May 24,1923

The National Bank of Jersey ville, Jersey- Jan.
ville, 111.

15,1927

Date

50
12.10
15

Total
dividends
paid to
creditors
(per
cent)

65
10
112.10
52.5

10
10
10
20
10
14.85

"16""""
10
6.94

20
30

6.5
25
10
30
~59."85
75

30.94
40

"IB"

31.2
40
55

10
30
"43"'

10
40
......
10
~20"

30
20

10

30
10
~35~

"B6"'

1
Aug. 8,1927
5,009. 32
35
First National Bank, Jonesboro, Ark
June 4,1926 May 21,1927
71,451. 65
20
June 17,1927
119,124. 66
1
July 25,1927
2, 538. 89
20
First National Bank, Joplin, Mont
Sept. 16,1921 Mar. 7,1927
770.20
1.75
11.75
Citizens National Bank, Julesburg, Colo. June 12,1924 Dec. 9,1926
16,406.23
10
Apr. 22,1927
16,406.23
10
35
First National Bank in Kiefer, Okla
Mar. 13,1926 Dec. 28,1926
4,007.90
10
Mar. 12,1927
I 3, 595.12
July 1,1927
i 48,85
July 7,1927
11,384.97
15
25
»Represents payments made during the year on additional claims on account of dividends previously
declared.




EEPORT OF THE COMPTROLLER OF THE CURRENCY

289

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

First NationaIBank, Kingsburg, Calif. _.
Marion County National Bank, Knoxville, Iowa.
Farmers and Merchants National Bank,
Lake City, S. C.
First National Bank, Lake Norden, S.
Dak.
First National Bank, Lake Park, Minn.

Farmers National Bank, Lake Preston,
S. Dak.
First National Bank, Lake Preston, S.
Dak.
First National Bank, Lambert, Mont__.
Farmers National Bank, La Moure, N.
Dak.
First National Bank, Lansford, N. Dak.
First National Bank, Las Vegas, N.
Mex.
Lebanon National Bank, Lebanon, Tenn_
First National Bank, Leeds, N. Dak
First National Bank, Lemmon, S. Dak..
Exchange National Bank, Leon, Iowa...
First National Bank of Fergus County,
Lewiston, Mont.

Date of appointment of
receiver

Nov. 10,1926
Feb. 1,1927

$»7.107.19
151, 026. 51
i 3, 568. 52
i 952.17
i 319. 99
33,962. 47
i 15,912. 62
49, 875.10
i 1, 523. 70
30,972. 70
i 777. 06
21,167. 27
i 516. 48
29, 708.17
i 41. 91
29, 711. 56
i 11. 87
13, 754.45

Aug. 17,1927

M a r . 30,1927
Jan. 26,1927
Apr. 19,1927
Dec. 17,1923 Dec. 7,1926
Apr. 15,1927
M a y 2,1927
June 17,1927
M a y 4,1925 Aug. 19,1927
do.
Feb. 13,1925 Feb. 1,1927
Dec. 1,1926 June 17,1927
Apr. 2,1925 Jan. 28,1927
May 9,1927
M a r . 9,1927 Aug. 25,1927
Sept. 19,1927
Apr. 12,1924 Dec. 7,1926
Mar. 28, j927
d
.._-o
Sept. 21,1926 Sept. 19,1927

11,790. 63
50,981. 90
i 1, 228. 33
11, 575. 80
i 838. 66
i 47. 56
14, 338. 86
105, 508.11
i 435. 39
3, 000. 00
21, 767.13
i 83. 07
53, 776. 66
55, 880. 80
i 159. 30
1 9,129. 23
219, 278. 66
i 504. 90
36, 773. 73

Oct.
8,1927
Aug. 4,1927
Mar. 10,1927

30
33.33

41, 726.10
8,481. 67
14, 471. 33

July 16,1924
Feb. 25,1926

Aug.

4,1925

First National Bank, Lusk, Wyo

Feb.

7,1924

First National Bank, Madison, S. Dak..

M a y 21,1925

First National Bank, Magdalena, N.
Mex.

Jan.

First National Bank, Malta, Mont
First National Bank, Malvern, Iowa

Dec. 28,1925
Dec. 10,1926

1

Per
cent

13,769.60

Mar. 28,1924

First National Bank, Lumberton, N. C_

Farmers National Bank, Manor, Tex

Amount

M a y 12,1927
Apr. 6,1927
Apr. 19,1927
June 20,1927
Oct. 21,1927
Oct. 18,1926 M a r . 10,1927
M a y 12,1927
June 9,1927
Oct. 21,1927
M a y 12.1927
Oct. 5,1926
Aug. 18,1927
Aug. 19,1927
Aug. 24,1925 Nov. 10,1926
Dec. 31,1926
.....do
Sept. 30,1927
do
Dec. 17,1925 Aug. 16,1927

Farmers National Bank in Lidgerwood,
N. Dak.
Apr. 9,1927
First National Bank, Lineville, Iowa
M a r . 19,1924
First National Bank, Lingle, Wyo
Northwestern National Bank, Livings- Aug. 30,1924
ton, Mont.
Loveland National Bank, Loveland, Oct. 22,1925
Colo.
First National Bank, Lovington, N. Oct. 8,1923
Mex.

Manilla National Bank, Manilla, Iowa__

Date

18,1923

Oct. 20,1925
Nov. 26,1926

Nov. 22,1926
do
July 18,1927
do
Aug. 8,1927
Aug. 11,1927
Apr. 23,1927
do
Feb. 28,1927
do
..
Mar. 12,1927
June 27,1927
Oct. 29.1927
Nov. 18.1926
Jan. 15,1927
July 11,1927
Aug. 15,1927
M a y 14,1927
July 25,1927
Nov. 5,1926
do
J u n e 7,1927
J u n e 17,1927
S e p t . 11,1927

Total
dividends
paid to
creditors
(per
cent)
30
33. 333

10
10
20
15
10

25

10
10
35
10
20

20
30

20
30

10
12.2
15

62.2

.0375
20

60
81.25
20

10
20

55
20

10

i 2 1, 625. 34
13 39. 56
21, 099. 59
9.25
i 26. 56
i 125. 84
i 73. 65
54, 718. 25 15
i 1, 044. 47
12, 347. 62 21
i 11. 28
43, 776. 46
i 1, 434. 63
i 68.10
1 1,154.11
i 27. 71
3.9
11, 724. 77
3.5
7, 250. 37
56, 695. 32 30
t 3, 832. 88
26, 222.18
i 112. 59
36, 302. 99
i 665. 75
i 611. 60

40
15
20
10
'100

19.25
55
~66~

8.9
3.5
30
~40~

50

Represents payments made during the year on additional claims on account of dividends previously
declared.
2
To nonassenting creditors in accordance with agreement.
3
To assenting creditors in accordance with agreement.




290

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November i, 1927—Contd.
Dividends paid during the year
Name and location of bank

First National Bank, Mansfield, Tex
First National Bank, Manville, Wyo
First National Bank, Marcus, Iowa
First National Bank, Marengo, Iowa
First National Bank, Marysville, Kans._

Date of appointment of
receiver

Date

May 25,1927
Dec. 11,1923

Sept. 30,1927
Feb. 28,1927
do
Sept. 28,1927
June 23,1927
Sept. 16,1927
Nov. 13,1926
Mar. 25,1926
Apr. 6,1927
Nov. 24,1926
Mar. 2,1927
Nov. 2,1926
Jan. 19,1927
Feb. 23,1927
May 3,1927
July 1,1927
July 13,1927
Sept. 26,1927
May 18,1927

$29,061.32
5, 298. 87
l 1,163.80
17,033. 35
175, 500. 43
i 3,181. 84
i 847. 40
16.48
53, 620. 41
1 3, 204. 41
79,537. 87
48, 937. 53
i 2, 643. 28
11,120. 28
1 127. 93
49, 536.18
1 29. 48
l 340.09
242, 707.28

July 29,1927
Mar. 16,1927
June 23,1927
Feb. 15,1924 Nov. 10,1926
do—
Mar. 2,1927
Aug. 22,1927
do...
Aug. 6,1924 Aug. 9,1927
do
Feb. 27,1924 Dec. 30,1926

1908.74
22,500.17
i 5, 794. 44
149,592. 83
130.06
1 4,626.15
151,177. 72
1128. 52
19,483.90
1167. 89
125.56

Jan. 8,1927
do
Jan. 23,1927
Dec. 20,1923 Dec. 1,1926
Dec. 31,1926
Mar. 2,1927
Nov. 13,1924 Mar. 25,1927
May 26,1927
Jan. 14,1927 July 8,1927
Nov. 2,1922 Aug. 5,1927
Oct. 11,1927
Nov. 7,1925 Dec. 16,1926
do
Feb. 23,1927
Aug. 29,1927
June 1,1923 Apr. 27,1927
July 22,1927
Sept. 9,1927
Jan. 21,1925 Dec. 30,1926
Mar. 12,1927
do
Jan. 10,1927 June 27,1927
Sept. 26,1927
June 12,1927 Nov. 18,1926
May 20,1927
Dec. 9,1926 Oct. 26,1927

27, 426. 76
10
1 509. 95
11, 819. 94
i 59. 50
20,967. 27
15
i 111. 20
1 22. 53
2,305. 73
5
77,175. 84
50
25,197. 87
10
i 65. 45
273,061. 47
20
i 736. 62
12.770.33
1 546.57
34,395. 53
11
1 4,804.56
1180. 80
11,072. 51
11,557.99
10
115. 44
59,461. 72 " 2 5
1 2,459.91
46, 504. 73
10
i 555. 00
8,000. 00
14.57

May 18,1921
Feb. 18,1927
Apr. 15,1924

Security National Bank, Mason City, Dec. 29,1925
Iowa.
First National Bank, Matoaka, W. Va._. Mar. 3,1925

Farmers and Merchants National Bank,
Merced, Calif.
First National Bank, Milbank, S. Dak...
Commercial National Bank, Miles City,
Mont.
First National Bank, Minnesota Lake,
Minn.
Western National Bank, Mitchell, S.
Dak.
First National Bank, Montpelier, Idaho..
First National Bank, Moore, Mont
First National Bank, Morgan, Tex
First National Bank, Moulton, IowaFirst National Bank, Mountainair, N.
Mex.
Muskogee Security National Bank,
Muskogee, Okla.
First National Bank, Nampa, Idaho
Neoga National Bank, Neoga, 111..
First National Bank, Nevada, Iowa
First National Bank, Newcastle, Wyo

Sept. 23,1926
Nov. 15,1926

Mar. 13,1925

First National Bank, New Hampton,
Iowa.
Farmers National Bank, Newport, Ark. _ Dec 21,1926 May 2,1927

June 17,1927
July 25,1927
do
Oct. 26,1927
First National Bank, Noblesville, Ind__. June 3,1926 Mar. 3,1927
Apr. 19,1927
June 10,1927
Aug. 8,1927
do
Mar. 23,1927 Aug. 17,1927
First National Bank, Norway, Iowa
Nowata National Bank, Nowata, Okla.. Feb. 19,1924 Dec. 13,1926

Amount

50,441.38
1 3,183. 95
43,055. 64
i 219. 73
l 855. 00
115,973. 74
l 2, 798. 99
1 196. 46
38, 325. 44
i 8,889. 53
46, 763. 24
1
2,974. 61

Per
cent

Total
dividends
paid to
creditors
(per
cent)
50

11.7
25

59
41. 655
25

10

60

10
10

60

10
75
25
25
10
10
10
10
40
6
86
25

45
35
55
50
10

70
11
50
25
35
14.57

25
20
45
60
15
30

65
30
35

i Eepresents payments made during the year on additional claims on account of dividends previously
declared.




291

REPOKT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927-—Contd.
Dividends paid during the year
Name and location of bank

The National Bank of Oakesdale, Oakesdale, Wash.
First National Bank, Oldham, S. D a k -

Date of appointment of
receiver

Date

Aug. 4,1927

Amount

Total
dividends
paid to
creditors
(per
cent)

Per

$11, 209.48

15

Mar. 14,1927
do
Feb. 12,1924 July 25,1927
Feb. 8,1926 Dec. 14,1926
First National Bank, Onida, S. Dak
May 2,1927
First National Bank, Oroville, Wash___.
June 3,1927
July 22,1927
do.
Sept. 26,1927
Osceola National Bank, Osceola, Iowa... Apr. 22,1925 Dec. 7,1926
Aug. 4,1927
Aug. 11,1927
First National Bank, Oswego, Mont
Oct. 5,1923 Jan. 28,1927
Mar. 2,1927
do.
National Farmers Bank, Owatonna, Sept. 10,1926 Mar. 18,1927
Minn.
June 17,1927
July 11,1927
Sept. 14,1927
First National Bank, Pagosa Springs, Mar. 6,1926 Dec. 14,1926

23,958. 72
1 34. 56
1 20.40
14,032. 87
i 281.91
15.46
14, 320. 24
i 13.16
i 13.16
1
876. 22
13,354. 67
i 123.15
i 810. 87
9,250. 25
i 1,081. 15
241, 579. 14
i 6, 624. 33
124,101. 73
i 1,066. 22
10,842. 37

10

Feb. 1,1927
Mar. 3,1927
Mar. 21,1927
do..

Apr. 22,1924
Jan. 30,1926

May 6.1927
Aug. 8,1927
do.
Dec. 7,1926
Dec. 21,1926
do.
May 18.1927
May 26,1927
Max. 2,1927
Apr. 25,1927
M a y 26,1927
June 3,1927
June 17.1927
Jan. 8,1927
Mar. 14,1927
doMay 12,1927
May 28,1927
Aug. 8,1927
Jan. 21,1927
Mar. 3,1927
do.
M a y 18,1927
do
Jan. 19,1927
Apr. 9,1927

71,935. 39
i 878. 89
36,430.25
i 46.16
i 274. 94
36, 566.12
1158. 74
i 225. 98
30,449. 45
i 239. 51
i 355. 47
1.10
57, 257. 26
1
305. 40
17.25
1.94
23,028. 79
1
4, 518. 97
92, 210. 77
1.90
1 43. 42
16, 431. 90
1
1, 868. 81
i 78. 84
72, 365. 28
17.19
73, 066. 04
i 887. 08
i 1, 207. 85
41,347.98

June 11,1921

Oct. 18,1927

50,145.08

Dec. 21,1926
Jan.

3,1925

Colo.
Guthrie County National Bank, Panora, July 22,1926
Iowa.

First National Bank, Pasco, Wash..

Nov. 21,1925

First National Bank, Pensacola, Fla_.
First National Bank, Pepin, Wis

Jan. 22,1914
July 23,1926

Perry National Bank, Perry, Iowa

Feb. 5,1925

Citizens National Bank, Petty, Tex

Nov. 24,1926

National Bank of Commerce, Pierre, S. Feb. 11,1925
Dak.
First National Bank, Pilger, Nebr_
First National Bank in Pocahontas,
Iowa.
Bannock National Bank, Pocatello,
Idaho.
First National Bank, Poison, Mont
First National Bank, Poteau, Okla
First National Bank, Putnam, Conn

15
50
10

~20"

~20~'

40

10

"16"

20
~20~'
30
20

20
20

10
40

1
6
60
78.35
25

10

35

15
25

16"'
10

16"
I

"16""
10

40
16. 667
10
12.5

Mar. 22; 1924 Mar. 25,1927
11,401.44
10
10
June 19,1924 Mar. 30,1927
19, 291. 03
8.6
18.6
Aug. 13,1924 Dec. 9,1926
90, 356.09
5
May 27,1927
i 859. 66
Aug. 29,1927
i 3,000. 70
75
Feb. 11,1925 Dec. 7,1926
i 113.13
First National Bank, Quincy, Fla
Jan. 8,1927
1 8. 333. 33
50
First National Bank, Red Wood Falls, July 29,1925 May 26,1927
37. 436. 60
1
6 60
Minn.
i 170. 84
do
First National Bank, Renwick, Iowa
Jan. 13,1927 Oct. 29,1927
9, 446. 99
10
10
First National Bank, Rexburg, Idaho._. Aug. 11,1924 Dec. 30.1926
i 109. 70
7.5
Dec. 24,1925 Dec. 7,1926
First National Bank, Rifle, Colo
27, 371. 14
60
1
6
Jan. 12,1925 Dec. 9,1926
First National Bank, Rigby, Idaho
i 392. 20
M a y 27.1927
i 1,076.07
10
First National Bank, Riverbank, Calif.. Dec. 28,1925 Jan. 15,1927
i 1,060. 37
Apr. 19.1927
7, 346.53
10
40
i Represents payments made during the year on additional claims on account of dividends previously
declared.




292

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

Date of appointment of
receiver

Date

First National Bank, Rocky Ford, Colo. Apr. 5,1924 Sept. 9,1927
Citizens' National Bank, Roswell, N. Nov. 16,1923 Dec. 31,1926
Mar. 2,1927
Mex.
Citizens' National Bank, Royal, Iowa... Jan.

5,1927

First National Bank, Royalton, Minn... July 22,1926
First National Bank, Rupert, Idaho
First National Bank, Rush City, Minn.
First National Bank, Sac City, Iowa

Feb.

7,1923

First National Bank, Saco, Mont

June 4,1926

First National Bank, St. Anthony,
Idaho.

Mar.

Feb. 21 1927
Dec. 2,1925

4,1924

First National Bank, St. Cloud, Minn.. June 24,1925
First National Bank, St. James, Minn._ Nov. 30,1926

First National Bank, St. John, Wash... Feb. 7,1924
Jan. 16,1925
First National Bank, Salem, S. Dak
Peoples' National Bank, Salisbury, N. C July 3,1923
July 30,1923
First National Bank, Sapulpa, Okla
First National Bank, Schulter, Okla

Dec. 21,1923

First National Bank, Selma, N. C
National Bank of Commerce, Shawnee,
Okla.

May 16,1925
Apr. 28,1924

Mar. 29,1927
First National Bank, Sheldon, Iowa
Feb. 13,1925
First National Bank, Shelley, Idaho
First National Bank, Shenandoah, Iowa- May 13,1926

First National Bank, Sidney, Mont

Feb. 26,1924

June 10,1927
May 28,1927
July 14,1927
Aug. 22,1927
Oct. 11,1927
Oct. 21,1927
May 3,1927
June 23,1927
Aug. 29,1927
Sept. 26,1S27
Mar. 30,1927
do
Aug. 2,1927
Dec. 7,1926
May 5,1927
May 26,1927
July 11,1927
Feb. 19,1927
May 20,1927
Dec. 30,1926
May 27,1927
June 30,1927
Nov. 24,1926
Mar. 28,1927
Apr. 25,1927
Aug. 29,1927
Mar. 30,1927
May 20,1927
do...
Aug. 29,1927
do
Dec. 28,1926
Mar. 3,1927
do
May 13,1927
Nov. 8,1926
May 6,1927
Mar. 13,1927
July 12,1927
do.

Mar. 2,1927
.—do
Mar. 7,1927
do.
June 22,1927
Sept. 14,1927
July 1,1927
do.
Mar. 21,1927
May 26,1927
Aug. 25,1927
Oct. 21,1927
June 7,1927
July 25,1927
Jan. 11,1927

Sioux Falls National Bank, Sioux Falls, Feb. 24,1924
S. Dak.
Citizens National Bank, Spencer, Iowa.. Nov. 19,1926 June 3,1927
First National Bank, Spencer, Nebr

June 25,1927

Spirit Lake National Bank, Spirit Lake, Mar. 23,1926
Iowa.
First National Bank, Springer, N. Mex.. June 15,1925

July 18,1927
Sept. 26,1927
Nov. 4,1926
Apr. 15,1927
Dec. 28,1926
Sept. 21,1927
Oct. 15,1927
Aug. 15,1927
do.
Sept. 16,1927
Mar. 9,1927

Amount

i$67.80
46,939. 35
1 5, 824. 98
1 23. 82
27,057. 29
1 869. 39
1 86. 57
i 2,349.89
30,345. 41
27, 218.16
i 2, 207. 02
i 278. 73
1 1,165.15
11,371. 75
18.62
94, 379. 69
1
1 1 , 204. 95
i 55. 60
74, 813. 44
i 337. 95
20,863. 49
i 470. 45
i 198.25
i 110. 30
i 55.14
1 810. 95
i 2,037. 31
i 85. 37
1100. 74
120,856. 59
84,644. 62
i 6,110. 33
64,047. 30
11,879. 73
14,816.07
15,306.67
1109. 94
1 5,962. 24
136.06
1 260. 21
1 28.16
9, 384. 00
1 30.18
9,056. 98
i 213. 36
35,637. 04
1 3,457. 32
1.50
129,887.91
12,265. 75
l 51.18
61,143. 75
1400.92
59, 718. 45
1 1,555.17
1 314. 80
23, 793. 79
i 642.14
37,136. 76
i 943. 90
U21.53
42,492. 36
i 139. 37
52,267. 67
1 428. 22
52,695. 89
29,035. 51
1 549. 99
14,685. 94
45, 270. 78
1 1,808. 68

Per
cent

Total
dividends
paid to
creditors
(per
cent)

15
20

20
10

40

10
30

10.6
30

15
40
~40~"

15

20
20

10

15

15
10

65
85
25
50
20

21
......

20
15.5
10

"16"

31

40
20

79

20
16
32

10
10

5

"16"
10
25

20
~50~"

9.08
First National Bank, Springfield, S. Dak. Nov. 28,1923
10
Logan County National Bank, Sterling, Jan. 26,1925
do
Colo.
50
i Represents payments made during the year on additional claims on account of dividends previously
declared.



REPOKT OF THE COMPTROLLER OF THE CURRENCY

293

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

First National Bank, Stevensville,
Mont.
American National Bank, Stigler, Okla_.
Story City National Bank, Story City,
Iowa.

Date of appointment of
receiver

Dec. 13,1926
.....do
July 29,1927
Oct. 21,1927
Jan. 3,1927 May 26,1927
June 30,1927
Sept. 16,1927
Oct. 26,1927
do.
Mar. 2,1925

Mar. 1,1927

First National Bank, Sylvester, Ga
First National Bank, Tama, Iowa

Jan. 15,1925
Jan. 18,1926

First National Bank, Terril, Iowa.

Nov. 23,1926

American National Bank, Three Forks,
Mont.
First National Bank, Toledo, Iowa

Oct. 29,1923

First National Bank, Tolley, N. Dak
First National Bank, Torrington, Wyo._.
Torrington National Bank, Torrington,
Wyo.
FirstNational Bank, Towner, N. Dak_ _.
First National Bank, Townsend, Mont_.
First National Bank, Uniontown, Pa
First National Bank, University Place,
Nebr,

United State National Bank, Vale, Oreg.
First National Bank, Veblen, S. Dak
Provident National Bank, Waco, Tex
First National Bank, Wapanucka, Okla.
Warren National Bank, Warren, MinnFirst National Bank, Waubay, S. Dak..
First National Bank, Waukon, Iowa

First National Bank, Wausa, Nebr
Citizens National Bank, Wayne, Nebr_

Date

Mar.
Mar.
Apr.
June
May
June
Aug.
Oct.
June

3,1927
2,1927
19,1927
3,1927
3,1927
17,1927
18,1927
29,1927
10,1927

M a y 11,1927
J u l y 7,1927
Sept. 30,1927
Nov. 21,1923 Nov. 2,1926
Mar. 2,1927
Mar. 23,1927
do__
Dec. 16,1924 June 10,1927
July 14,1927
do
Mar. 19,1924 Aug. 4,1927
Sept. 19,1927
Dec. 28,1920 M a r . 9,1927
Jan. 8,1925 Feb. 18,1927
do
Jan. 19,1915 July 25,1927
Dec. 29,1926 June 17,1927
June 27,1927
July 13,1927
July 14,1927
Sept. 9,1927
Sept. 21,1927
Sept. 30,1927
Oct. 11,1927
Nov. 15,1921 Oct. 8,1927
do
Mar. 23,1927
Sept. 18,1926 June 17,1927
Oct. 21,1927
June 9,1927
Mar. 26,1927 June 30,1927
Sept. 8,1927
Dec. 28,1926
Mar. 2,1925 June 30,1927
Mar. 23,1927
Dec. 5,1925 Apr. 19,1927
Mar. 7,1927
Aug. 20,1926 June 10,1927
Dec. 16,1926
Jan. 18,1926 Jan. 19,1927
M a y 20,1927
.do
July 25,1927
July 9,1925 Dec. 7,1926
Apr. 22,1927
June 2,1926 Nov. 5,1926
Jan. 19,1927
Mar. 12,1927
do
June 23,1924 July 7,1927
Feb. 26,1924 Jan. 26,1927
Nov. 3,1926

Amount

Per
cent

$19,054.97
i 252.45
15,472. 60
1 2,171. 61
31, 719. 38
20
i 3, 291. 91
i 400. 82
36,416.01 ~20~'
i 1,003. 84
1 67. 92
1 487. 34
86,088. 28
1 74. 76
103, 224. 30
1 882. 69
l 1,001. 52
1 76.03
7,354. 32
145,852. 57
l 2,666. 96
1 672.13
1 449. 97
1 170. 04
9, 887. 45
1 71.96
1 188. 50
57, 315. 27
11.27
17,685.13
1 1.00
20,414.19
7,215. 28
1 313.16
1 23. 22
46,403. 03
1
24. 68
1 186. 22
1 55. 69
1 284. 92
1 14. 48
1 43. 07
19.52
17,155. 97
1 163. 17
23, 711. 09
1 848. 09
1 261. 03
141,000. 00
35,000. 00
70,000. 00
8,863.18
1 473. 89
27, 532. 23
1 2, 281. 32
12, 578.18
1 253. 31
70, 791. 37
1 64. 64
70,919. 35
1 63. 34
l 1,945. 08
1 1, 702. 03
1
353. 93
229, 870.10
1 654. 00
92, 228. 61
1 49. 26
1 2,126. 85
1
474. 67

Total
dividends
paid to
creditors
(per
cent)

63

40
10
35

40
10

40
7.3
17.3
25
"35"
35
24.9
10
50
116.12
"40"

40
2.25
.......

•~~7.~25"

81. 526
81. 526
5

10

16"
20
50
"20"
70

10
Weiser National Bank Weiser, Idaho._.
35
Wells National Bank, Wells, Minn
1 Represents payments made during the year on additional claims on account of dividends previously
declared.




294-

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the
last year, with the total dividends in each case up to November 1, 1927—Contd.
Dividends paid during the year
Name and location of bank

The National Bank of Wessington
Springs, S. Dak.

Date of appointment of
receiver

Feb. 23,1926

Palm Beach National Bank, West Palm, July 2,1926
Beach, Fla.
First National Bank, Wilder, Idaho

Nov. 22,1926

First National Bank, Willow City, N. July 12,1923
Dak.
Commercial National Bank, Wilming- Jan. 31,1923
ton, N. C.
Pirst National Bank, Wimbledon, N.
Dak.
First National Bank, Winifred, Mont_._
First National Bank, Winner, S. Dak.__
Winner National Bank, Winner, S. DakFirst National Bank, Woonsocket, S.
Dak.

Apr. 23,1925
Oct. 15,1925
Jan. 31,1923
Oct. 24,1925
July 23,1926

Date

Total

i $121.07
12,973. 68
1 851.36
6,699. 23
11,050.64
i 514.09
28,051.21
88,791. 71
116,286.16
i 8,113. 42
40,010.28
l 1,704. 78
1 93. 72
11,268.20
82,869. 30
l 818. 63
l 912. 92
1 34. 59
15,841.43
i 83. 96
5,573. 82
14,506. 40
9,659. 64
1 673. 89
6,501. 08
1184. 66
15,574.92
1 5,417. 58
1 789. 83
184.36

Total
Total dividend paid by comptroller's checks and purchasing
banks

.20
10

40
25
30
50
5

5

10
10
8
15

90
55
50
10

15
45
10
8

10
10

40

10

17,464,249. 07

Amount

Dividends paid by purchasing banks to creditors of insolvent national banks, assets of which were sold by order of court:
. .
First National Bank, Dell Rapids, S Dak
Marion County National Bank, Kno xville, Iowa
Georgia National Bank, Athens, Ga.
Central National Bank, Marietta, 01iio__State National Bank, Austin, Tex
Provident National Bank, Waco, Te s

Per
cent

Amount

Nov. 5,1926
Nov. 18,1926
Jan. 8,1927
Mar. 2,1927
May 20,1927
Sept. 9,1927
Sept. 30,1927
Nov. 18,1926
Mar. 7,1927
do
May 3,1927
Sept. 30,1927
Mar. 16,1927
Aug. 9,1927
Dec. 21,1926
Feb. 1,1927
Mar. 12,1927
Aug. 29,1927
June 23,1927
do
Jan. 8,1927
Mar. 10,1927
Mar. 25,1927
do
Oct. 29,1927
do
Mar. 9,1927
Mar. 23,1927
May 6,1927
Sept. 26,1927

Total
dividends
paid to
creditors
(per
cent)

$197,735. 67
206,885.41
997,381.89
1,817,602.41
705,002.29
246,000.00

Per cent

Total
dividends
paid to
creditors
(per cent)

65.5
41.67
90
100
100
100

90.5
75
100
100
100
100

4,170,607.67
21,634,856.74

i Represents payments made during the year on additional claims on account of dividends previously
declared.




295

BEPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE 43.—Dates of reports of condition of national banks from 1914 to 1927
(For dates of previous calls see report for 1920, vol. 2, Table No. 42, p. 150)
Year

1914
1915
1916__
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927

Jan.

Feb.

Mar. Apr. May June July Aug. Sept.
4
4
7
5
4
4

13
_.

28
21

28
5

10
3
31
6
12
|

12
2
12
11

30
1
1
1
10
12
4

23

23
30
20
29
30
30
30
30
30

30
30
30
30

Oct. Nov.

31

31
10
17
20
1
17
15

31
12
8
6
15
14

Dec.

31
27
31
31
31
29
31
29

31
10

28
10

31
31

31
31

NOTES

Act of February 25, 1863, provided for reports of condition on the first of each quarter, before commencement of business.
Act of June 3, 1864—First Monday of January, April, July, and October, before commencement of business, on form prescribed by comptroller (in addition to reports on first Tuesday of each month showing
condition at commencement of business in respect to certain items; i.e., loans, specie, deposits, and circulation) .
Act of March 3, 1869, not less than five reports per year, on form prescribed by comptroller, at close of
business 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.

71284°—28-




-20

TABLE N O . 44.—Condition of foreign branches of National City Bank and Chase National Bank, New York, N. Y,, and First National
Boston, Mass,, on June 30, 1927

Bank,

RESOURCES
[In thousands of dollars]
Loans and
discounts,
Country and city

including
overdrafts
and rediscounts

Letters
of credit
and
acceptances

Due from
other
banks

Checks
and cash
items

591

Bonds

Furniture
and
fixtures Due from Due from
and
home office branches
real estate
owned

107
1
5

4

Cash

Other assets

Aggregate

I

NATIONAL CITY BANK OF NEW YORK, N. Y.

Cuba:
Caibarien.
Camaguey
Cardenas
.
Ciego de Avila
Cienfuegos..
Florida.
Guantanamo
Havana
Havana (Belascoan)
Havana (Cuatro Caminos) _
Havana (Galiano Street)
Havana (La Lonja)
Manzanillo
Matanzas
Moron
Nuevitas.. _
Palma Seriana
Pinar del Rio
Remedios
Sagua la Grande
Sancti Spiritus
Santa Clara
Santiago de Cuba
Vertientes
Yaguajay
China:
Canton
Dairen
Hankow
_ _ _
_ _ _
Harbin
Hong Kong (British Colony)
Peking




2,608
548
3,260
128
410
2,164
759
33,678
166
578
221
469
1,413
4,114
97
53
165
364
62
707
600
125
1,630
125
850
282
687
190
6,845
4 712
65 i

181
7

499
1,864

92
25
770

366

874

8,030

1
8
150

12
227
915
2,867
2,055
85
223
105
210
340

40
4

7

86
739
1,541
17

148

79

1,655

145

1,371
3,775
7,612
3,581

398
55

13
1

1

1,271

234
1
14
1
2
5
5

3
1
1
1
1
2
6
5
15

28
273
13
1,633
1,804
91

2

35

1
2
14
72

254
307
119
118
334
56
126
2,160
32
48
135
97
104
130
41
39
64
86
58
125
115
71
370
43
59
168
1
444
616
337
532

10
5
2
7
288

1
9
1
1
2
6
4
1
11
4
11
2
2
19
27

3,160
1,451
3,396
747
2,721
2,221
910
47,683
426
1,556
3,232
2,774
1,522
4,261
225
356
335
669
461
847
811
941
3,750
189
920
2.212
964
2,167
12,902
14,962
4,324

I
2

Shanghai
Tientsin
Dominican Republic:
Barahona
La Vega
Puerto Plata
San Pedro de Macoris
Santiago de los Caballeros
Santo Domingo City
Japan:
Kobe. _
Osaka
Tokyo
Yokohama
Brazil:
Recife
Rio de Janeiro
Sao Paulo
India:
Bombay
_
Calcutta
Rangoon (Burma)
Argentina:
Buenos Aires
Rosario
Belgium:
Antwerp
Brussels
Chile:
Santiago _
_ _
_
Valparaiso
Italy:
Genoa
Milan
Porto Rico:
San Juan
Caguas__
_ _
Republic of Panama:
Colon
Panama
England: London
Java: Batavia
Peru* Lima
Straits Settlements: Singapore
Uruguay Montevideo
Venezuela: Caracas
Total




8,702
2,685

_
_

45
27
71
248
63
3,098
1,604
8,897
3,930
1,640
1,562
9,981
8,198

15

1,792
2,397

3,360
872

216
352

50
5

2,463
1,151

1,023

45
97
83
79
284
79

43
2
4
17
212

1
3
2
42

45
118
62
126
111
587

39

135
285
219
477
477
6,942

785
390
791
444

1,642
691
1,540
198

1

1
11
11
11

4
30
13
2

6,120
11,676
6,457
2,309

167

189
528
264

242
1,459
1,699

44
5
761

336
930
643

6
583
26

2 383
17,788
12,334

705
1,605
127

250
59
44

1

54

321
77

30
50
191

32
12
4

2,212

15
1,655

36

171

8
1,471
14

7
8
158
4

177

29
378

6,491
3,234
1,832

3,772
365

2,069
10
4
334

1,870
194
14

51
30

2

16,970
7,569

23,218
5,449

319

430

2,047
21

2,702
602

3,009
107

115
1

354
174

51
18

32,245
6,372

4,043
2,899

1,566
1,543

44
42

1

62
919

99
196

13
7

4
4

2
9

5 833
5,620

9,978
4,929

15
108

160
196

452
69

765
507

3
6

67
59

14
16

11,454
5,890

5,272
3,369

1,012
3,105

44
46

337
48

2,608
3,647

10
5

66
5

14
70

9,716
10,295

3,727
806

83

1,520

907
359

1,035

65
1

246
12

41

7 706
1,178

1,257

1,454
1,825
6,995
401
6
112
75
5

222
413
2,029
28
251
920
931
437

27
33
28
1
2
3
7
183

61
821
69
27
152
466
197
695

1
10
123
1
10
4
69
37

1,950
8,622
84,323
1,583
4,838
8,059
5,793
5,962

45, 749

58,427

31,149

1,818

17, 545

1, 737

449,474

185
1,334
35,893
618
3,485
5,538
4,407
3,320
248,853

8
16,815

82

2,600

23

353

47

194

4,178
19, 771
313
862
1,016

107
28
29,628

12,031

2,537

o

3

to

TABLE N O . 44.—Condition of foreign branches of National City Bank and Chase National Bank, New York, N. Y., and First National
Boston, Mass., on June 80, 1927—Continued
KESOURCES—Continued

Bank,

00

[In thousands of dollars]
Loans and
Letters
discounts,
including of credit
and
overdrafts
and re- acceptances
discounts

Country and city

Furniture
and
fixtures
and
real estate
owned

Checks
and cash
items

Due from
branches

Due from
other
banks

1,756

Bonds

600

105
251
169

6
29
67

241
358
301

250

3,036
6,877
4,853

4,153

600'

525

102

900

251

14, 766

D u e from
home office

Cash

Other assets

Aggregate

CHASE NATIONAL BANK OF NEW YORK,
N. Y.

Canal Zone: Cristobal
Cuba: Havana
Republic of Panama: Panama

_.

5
20
34

341

7,835

Total

281
5,878
1,676

59

341

42,840
4,901

732
436

7,748

128
74

15,407
362

334
39

499
505

304
13

67,992
6,330

47, 741

1,168

7,748

202

15, 769

373

1,004

317

74,322

2,397

1

FIRST NATIONAL BANK OF BOSTON, MASS.

Argentina: Buenos Aires
Cuba: Havana
Total

. . .




fcO
CO

LIABILITIES

Country and city

Capital

Profits,
including
amount
reserved
for taxes
and interest
accrued

Due to
home
office

Due to
branches

Due to
other
banks

Individual
deposits

Rediscounts

Acceptances of
other banks
and foreign
bills of
exchange
or drafts
sold with
i ndorsement of
this bank

Letters of
Acceptcredit and
acceptances ances executed by
executed
other
by reportbanks
ing bank

Other
liabilities

O

NATIONAL CITY BANK OF NEW YORK, N. Y.

Cuba:
Caibarien
Camaguey
Cardenas
Ciegode Avila
Cienfuegos
Florida
-...
Guantanamo
_.
Havana
Havana (Belascoan)
Havana (Cuatro Caminos)..
Havana (Galianq Street)
Havana (La Lonja)
Manzanillo
Matanzas
Moron
Neuvitas
Palma Sariano
Pinardel Rio
Remedios
Saguala Grande
Sancti Spiritus
Santa Clara
Santiago de Cuba
Vertientes
Yaguajay
China:
Canton
Dairen
Hankow
Harbin
Hong Kong (British colony).




223
2
1
2
3
1,000

1,392
"2,"809"
1,557
207
993

2
106
1
2
3
1
8

556
3,024

1,032
796

19
20
18
280

1,259
652

494
311
L 591
,

33
92
24
24
164
100
36
2,387
23
82
19
79
52
81
27
54
41
30
8
81
187
35
33
6
6

1,330
1,342
553
716
2,456
562
640
23,574
396
1,466
3,196
2, 528
909
1,141
198
260
293
633
449

26
1
291
1,661
2,053

2,167
468
1,545
5,372
11,888

639
620
895
2,496
182
118

18, 519

181
10
8
5
96
2
25
1,038
4
1
12
162
4
5

O

o
27

37
2
5
2
3

o

E

42

10
177

o

CO
CO

TABLE NO. 44.—Condition of foreign branches of National City Bank and Chase National Bank, New York, N, Y., and First National Bank,
Boston, Mass., on June 30, 1927—Continued
LIABILITIES—Continued
[In thousands of dollars]

Country and city

China—Continued.
Peking
Shanghai
Tientsin
Dominican Republic:
B arahona
La Vega
Puerto Plata
Han Pedro de IVIacoris
Santiago de los Caballeros
Santa Domingo City
Japan:
Kobe
Osaka
Tokyo
Yokohama
Brazil:
Recife
Rio de Janeiro
Sao Paulo
_____
India:
Bombay
Calcutta
Rangoon (Burma)
__ __
Argentina:
Buenos Aires
Rosario
Belgium:
Antwerp
Brussels




Capital

Profits,
including
amount
reserved
for taxes
and interest
accrued

Due to
home
office

Due to
branches

63
5, 433
2

39
222
57

Due to
other
banks

476
1,280
1, 265

Individual
deposits

3, 746
i 9, 998
G, 245

31

129
273
213
367
444
2,874

2

56
602

52
59
20
18

2 053
3,480
2,338

1,821
5,201
2,196
245

570
171
74
56

1,616
1,280
1,815
1,974

12
25
146

158
2,289
378

371
1,335
1,229

97
1,453
1,958

1,376
7,952
5,475

54
40
8

521
97
1,305

4,642
644
53

158
232
38

4,000
3,833
807

1,333
229

3,452
1,513

14,053
4,312

1,479
244

20
159

2,587

81
11
11
6

671
189

Other
liabilities

3
33

2
3
2

1,001
250

Letters of
Acceptcredit and
acceptances ances executed by
executed
other
by reportbanks
ing bank

1

6
11
3
17
30
166

1

1,059

Rediscounts

Acceptances of
other banks
and foreign
bills of
exchange
or drafts
sold with
indorsement of
this bank

1,057

6

1,660

1,635

3

8

754
14

717

14

102

220
1,448
658

16
146
2,068
1,991

3
159
397
1

3

576
46

5,297
11

1,771
1,549

1
1

2 362

1
6,452
2

823
2 885

Chile:
Santiago
Valparaiso
Italy:
Genoa..
Milan
Porto Rico:
San Juan
Caguas
Republic of Panama:
Colon
-__
Panama
England* London
Java: Batavia
Peru: Lima .
Straits Settlements: Singapore
Uruguay: Montevideo
_
Venezuela: Caracas
Total—

601
602

1,570
82

22
1,215

306
54

3,921
1,575

998
1,248

70
119

3,955
989

353

111
75

147
1,058

855
232

1,030
1,111

6,078
4,368

81
329

1,024
3,109

37
13

350

,__

11
6

21

249

1,703
920

244
11

i 5,032
244

99

8

3

2,051

24, 746

1,919
1,919

302
41

12,893
707

13, 755
1,260

343

6,942

5,030
1
1

374

748
478

5
14
116
9
12
72
2
20

15
309
50

500

13, 600

15,015

3
88
3,631
220
83
54
79

55, 608

27, 902

216, 712

367

182

1,937
6,532
22,161
912
2,343
7,656
3,290
5,205

128
105
403
636

1,438
3,415
274
304
143
962
11

1

a 16, 812
2 340

15, 582

4
47
16, 935

465

1
3
176
959
105
201
2

201

50

470

93
341

61
304

39, 846

29, 533

30, 619

1,316

i 2, 521
4,522
i 4, 364

2
2

5
20
34

11,407

4

59

14,199

CHASE NATIONAL BANK OF NEW YORK, N. Y.

Canal Zone: Cristobal
Cuba: Havana
Republic of Panama: Panama
Total

367

FIRST NATIONAL BANK OF BOSTON, MASS.

Argentina: Buenos Aires
Cuba: Havana
Total




1

Includes United States deposits.

1

21,284
3,869

2 2,847

15,843

243
93

772
343

53
17

25,153

2,847

15,843

336

1,115

70

a

Includes bills payable.

1
o
o

302

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 45.—Number, capital stock paid in, circulation outstanding, and aggregate assets of national banks at date of each report from February 28, 1920, to
October 10, 1927, together with the total amount of money in the United States on
June 30 of each year, and the percentage of national-bank circulation to capital,
to assets, and to money in the country
[For prior years see annual report 1920]
[Amount in millions of dollars]
Percentage of circulation
Date

1920
Feb. 28...
May 4___
June 30..
Sept. 8__
Nov. 15.
Dec. 29..

Number of
banks

Paid-in
capital

Circulation

Aggregate

Money
in
United
States

Capital

Assets

Money
in United
States

7,894.5

58.2
56.7
56.2
55.5
55.0
54.5

3.0
3.0
2.9
30
30
30

8.7

13.3
697.9
693.9

22,959.0
23,252. 9
23,411.3
23,175.8
23,535.1
22,799.4

1,273.2
1,271.4
1,273. 9
1,276. 2
1,282.4

684.4
679.6
704.1
704.7
717.5

21,451.7
20,560.3
20,517. 9
19,719.2
19,943. 7

8,096.0

53.8
53.5
55.3
55.2
55.9

3 ?,
33
3.4
3.6
36

8.7

8,197
8,230
8,249
8,240
8,225

1,289. 5
1,296. 2
1, 307.2
1, 307.1
1, 317. 0

719.6
721.0
725.7
726.8
723.8

19, 850.4
20,176. 6
20, 706.0
20, 926.1
21, 975. 0

8,177.5

55.8
55.6
55.5
55.6
55.0

3.6
36
3.5
3.5
3 3

8.9

1923
Apr. 3_.
J u n e 30..
Sept. 14.
Dec. 3 1 . .

8,229
8,241
8,239
8,184

1, 319.1
1, 328.9
1, 332.4
1,325.8

728.1
720.0
731.5
725.9

21, 612.7
21, 511. 8
21, 712.9
22,406.1

55.2
54.2
54.9
54.8

3.4
3.3
3.4
3 ?,

1924
M a r . 31.
J u n e 30..
Oct. 10..
Dec 3 1 . .

8,115
8,085
8,074
8,049

1,335.6
1, 334. 0
1, 332. 5
1,334.8

726.5
729.7
723.5
714.8

22,062.9
22, 565. 9
23, 323.1
24, 381. 2

8,746. 5

54.4
54.7
54.3
53.6

3 3
3.2
3.1

8.3

1925
A p r . 6..
June 30..
Sept. 28..
Dec. 3 1 . .

8,016
8,072
8,085
8,054

1,361.4
1, 369. 4
1, 375. 0
1, 379.1

649.4
648.4
649.2
648.5

23,832. 4
24, 350. 8
24, 569. 5
25, 852.4

8, 221.2

47.7
47.3
47.2
47.0

2.7
2.7
? 6
2.5

7.9

Apr. 12.
June 30.
Dec. 31_.

8,000
7,978
7,912

1,410. 4
1,412.9
1, 410.7

649.5
651.2
646.4

24,893.7
25,315. 6
25,683.8

8,373. 7

46.1
46.1
45.8

2.6
2.6
2.5

7.8

1927
Mar. 23.
June 30..
Oct. 10..

7,828
7,796
7,804

1,460. 4
1,474.1
1, 499. 3

642.5
650.9
649.9

25,699.1
26, 581. 9
27, 213. 8

8,532.0

44.0
44.2
43.3

2.5
2.4
2.4

7.6

7,933
7,990
8,030
8,093
8,123
8,130

1,182.1
1,214. 8
1,224. 2
1,248. 3
1,269. 9
1,272.3

Feb. 21.
Apr. 28..
June 30_.
Sept. 6_.
Dec. 31..

8,143
8,152
8,154
8,155
8,169

1922
Mar. 10.
May 5...
J u n e 30..
Sept. 15.
Dec. 29__

1921

1926




EEPOKT OF THE COMPTROLLER OF THE CUREENCY

303

TABLE NO. 46.—Abstract of the resources and liabilities of national banks in Neiv

York, in the two central reserve cities, in other reserve cities, and elsewhere, at
close of business October 10, 1927.
[In thousands of dollars]
New York
(23 banks)i

New York
Other
reserve city
and
banks
Chicago"
(36 banks) (367 banks)

Country
banks
.(7,401
banks)

Aggregate
(7,804
banks)

EESOURCES

Loans and discounts (including rediscounts)2
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 owned-.
Lawful reserve with Federal reserve banks.
Items with Federal reserve banks in process of collection
Cash in vault
Amount due from national banks__
Amount due from other banks, bankers,
and trust companies.
_
Exchanges for clearing house
Checks on other banks in the same place._.
Outside checks and other cash items.
Kedemption fund and due from United
States Treasurer
United States Government securities borrowed
Bonds and securities, other than United
States, borrowed
Other assets
_
_
Total..
Capital stock paid in
-----Surplus fund..
_
Undivided profits, less expenses and taxes
paid..
Reserved for taxes, interest, etc., accrued..
National bank notes outstanding
Due to Federal reserve banks._
Amount due to national banks_
Amount due to other banks, bankers, and
trust companies
Certified checks outstanding
Cashiers' checks outstanding-_
_.
Demand deposits
Time deposits (including postal savings)._.
United States deposits. __
Total deposits
_
United States Government securities borrowed
Bonds and securities, other than United
States, borrowed
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 indorsement
Letters of credit and travelers' checks outstanding
i
Acceptances 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..

2,464,525
596

3,167, 916

4,874,402
3,583

6,324,608
10,030

14, 366,926
14,503

532,173
383,324
168,611
55,440
209
353,046

590,843
448,870
177, 926
73,380
378
449,424

989, 505
975,262
99, 938
233,380
28,963
465,519

1,095,194
2,517,306
5,725
391,756
92,820

2,675,542
3,941,438
283, 589
698,516
122,161
1,413, 792

105,996
27,428
12,306

124,097
34,478
57,439

292,818
97,903
365,649

85,121
242,870
702, 784

502,036
375, 251
1,125,872

15,549
538,235
44,033
10,305

38,887
582,168
45,927
11, 915

243,016
173,122
15,562

177, 939
35,206
24,990
21,990

459,842
790,496
86,479
86, 832

1,651

1,874

23,335

33,079

500

500

14, 780

350
94,878

350
114,047

7,207
761
82,972

7,073
1,837
22, 723

2,948
219, 742

4,809,155

5,921,309

9,010,359

12,282,156

27,213,824

215,500
275,450

269,650
317,855

470,834
366,072

758,900
589,102

1,499,384
1,273,029

97,252
11,012
32,290

117,676
17,177
36, 673

156,857
34,470
154,122
6,129
584,124

296, 949
26,874
459,091
29, 978
108,894

571,482
78.521
649; 886
36,107
1,076, 860

268,673

383,842

646,207
243,114
113,411
2,035,900
443, 719
61, 928
8,812,952

793,388
249,247
118,119
2,612, 928
543,126
73, 548
4,774,198

52, 927'
7,870

283,499
1,894,696
817,809
14,629
281,479
17,603
227,217
42,212
66,886
3,663, 950 4,647,433 10,924,311
7,590,944
2,243, 997 4,803,821
49,574
255,624
132, 502
7,533,000
9,980,040 22,287,238
7,207
7,080
14, 787
761
1,837
2,948
1,800
1,245
3,045

500

500

350

350

62,697
2,294

54,273
2,294

94,635
21,294

86,851
56,983

235,759
80,571

110,262

118,254

38,741

427

157,422

5,553

4,855

276

10,684

161,558
12,853
20,599

171,496
13,544
21,816

102,879
3,655
19,177

4,592
1,245
10,664

278,967
18,444
61,657

4,809,155

5,921,309

9,010,359 12,282,156

27,213,824

1 Figures in this column included with New York and Chicago in the next column,
Includes customers' liability under letters of credit.

2




CO

TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927
DECEMBER 31,1926
[In thousands of dollars]
Time deposits

Demand deposits

Cities. States, and Territories

CertifiDeposits
Individual cates of State or subject
other
Divideposits deposits munici- to notice dends
subject to due in
of less
pal
unpaid
less than deposits than 30
check
30 days
days

Other
demand
deposits

Total

Certificates of
deposits
due on or
after 30
days

State
and
other
municipal
deposits

Other
time
deposits

Postal
savings
deposits

Total

CENTRAL RESERVE CITIES

New York.
Chicago
Total central reserve cities.

2,156,603
509,178

9,287
2,624

28, 711
16,320

1,972
2,219

43,603
81

2,240,176
530,422

13,560

8,046
5,250

364,245
64,496

5,006
1,282

390,857
79,611

2,665, 781

11,911

45,031

4,191

43,684

2, 770,598

22,143

13, 296

428, 741

6,288

470,468

412,904
21,498
46,306
3,539
399,497
230,970
79,845
71,042
31,190
43,800
30,693
21,540
23,845
63,177
12, 281
26,401
8,085
64,388
27, 282
7,745
1,992
46, 259
7,564
19,527
59,826

10,180
5
244
44
1,202
.4,067
451
895
72
798
87
353
94
467
271
356
530
752
567
108

50
7,392
1,057
185
7,652
6,111
5,190
1,277
3,444
1,276
5,872
1,297
463
29
325
2,818

672
38
100
26
847
627
509
267
190
149
35
75
101
250
10
193
63
133
57
107

2,481
8,138
255

426, 797
37,071
47,962
3,794
411,607
246,011

22, 859
756
340
380
9,021
7,198
4,101
3,283
1,242
94
6,967
88
2,103
478
328
1,526
294
3,292
1,568
171
473
7,169
2,185
3,806
2,693

1,545
25
25
340
500

131,077
9,398
8,401
10,019
107,813
64, 713
25, 961
30,939
16, 343
25,420
22, 701
14,138

3, 359
13
960
4
2,067
972
70
304
60
199
1,008
108
89
149
77
136
42
79
115
12
12
105
85
55
291

157,295
10,167
9,701
11,948
118, 926
72,908
30,472
35,026
17,645
25, 713
36,196
14,834
2,687
16,528
6,342
10,268
11,565
29,860
9,102
5,226
1,412
23,224
6,179
17,217
25,260

OTHER RESERVE CITIES

Boston
_._
Albany
_
_
Brooklyn and Bronx.
Buffalo...
Philadelphia
Pittsburgh
Baltimore
Washington
Richmond
._
Atlanta
Jacksonville
Birmingham
New Orleans
Dallas...
laso.I__
Fort Worth
Galveston
Houston
San Antonio
Waco
Little Rock
Louisville
Memphis
Nashville
Cincinnati




52
633
4
290

547
994
858
155
744
1,052
5,616

$510

2,177
1,150

247
30
46
211

232
3,086
3
846
31
30
7
411
10

74,327
34,896
46,054
36, 717
23,272
24,914
63,933
12,887
29,774
8,678
65,862
28,900
8,818
2,147
47,302
8,236

40
65,943

5,520
500
495
1,433
580
50
2,000

900
300

14,468
5,357
11,229
26,439
5,419
5,043
927
15,950
3,909
12,456
21,976

Cleveland
Columbus
Toledo...
Indianapolis
Chicago
Peoria
Detroit
Grand Rapids
Milwaukee
Minneapolis
St. Paul
Cedar Rapids
Des Moines
Dubuque
Sioux City
Kansas City, Mo
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
Wichita
Helena
Denver
Pueblo
Muskogee
Oklahoma City
Tulsa
Seattle
Spokane
Portland
Los Angeles
Oakland
San Francisco
Ogden

24,992
37,288
2,856
44,502
27,338
11, 591
114,020
15,638
70,087
77, 807
52,350
7,202
17,188
3,202
9,983
55, 750
8,055
160,002
9,341
45, 650
2,951
10,871
12,827
2,852
66, 849
9,605
5,541
27, 326
45, 092
55, 500
11,801
46, 720
134, 220
15,154
141, 683
3,864
15, 526

1,455
643
34
8
503
9
1,715
289
810
281
299
254
471
450
1,034
323
3,801
200
1,089
266
485
329
101
367
145

6,798
14, 285
6,957
1,810
1,285
3,037
350
4,045
5,209
2,846
1,837

3

182

40
3,652

Total all reserve cities

974
10
85
43
50
115
529
13
8
9
4
213
42

34,308
52, 559
2,925
51,575
29,841
13,021
119,218
16, 350
74,385
84,829
55,657
7,721
19,304
3,709
10,484
60, 728
8,407
173,199
11,274
49, 325
6,185
14,819
15,972
3,614
74,067
9,935
6,621
36, 719
48, 923
63,141
13, 251
53, 783
148, 546
21,323
155, 908
4,917
18, 893

4,907
3,653
216
5,363
1,591
3,788
7,008
3,600
9,030
10, 720
11, 921
1,180
716
1,508
2,206
6,041
969
14,538
173
2,974
658
866
1,024
469
2,056
1,008
830
2.746
1,291
2,239
4,040
2,465
7,325
496
9,578
868
1,920

10,187
1, 095
2,000
368
65
899
1,770

747
500

27, 299
8,912
2,814
2,948
47,661
6,182
35, 721
8,807
24,068
44, 843
22,432
5,090
2,297
4,214
5,053
4,442
4,999
51,828
3,885
9,125
672
326
4,423
1,372
44, 584
3,214
1,228
9,995
12,824
29,749
12,934
49, 053
132, 394
3,947
26,621
757
4,565

25
276
38
124
381
25
463
28
402
669
2,470
19
1,439
25
528
967
52
385
18
258
282
374
164
102
1,852
201
97
1, 465
65
2,858
117
1,365
387
172
454
18
174

42,418
13,936
5,068
8,435
50,001
10,060
44,091
12,435
33, 500
58,002
36,823
6,289
4,452
5,747
7,787
12,197
6,020
67,251
4,076
12,607
1,707
1,566
5,611
1,943
49,812
4,433
2,892
15, 985
14,430
34,846
17, 091
52, 883
161,648
4,615
38,463
1,643
6,695
1, 563,159

298

1,194
460
906
7
806
1,219
393
464
287
437

8,747
1,691
2,521
2,954
3,433
2,791
640
6,501
180
827
8,056
3,287
5,960
1,110
5,774
10, 205
5,661
11,882
766
2,795

3,164,420

44, 056

192, 336

4,320

10, 002

22, 871

3, 438, 005

214, 396

59, 673

1, 259, 980

29,110

5,830, 201

55, 967

237, 367

4,320

14,193

66, 555

6, 208, 603

286,539

72,969

1, 688, 721

35, 398 2, 033, 627

35,977
35,776
16,879
219,773
26,542
121,954

718
1,735
781
3,562
3,316
2,355

16
3
146

64
39
401
226

37,028
37,782
17,951
224,877
29, 985
125,088

1,948
1,870
769
9,787
2,100
7,203

135

147

317
204
252
848
127
553

456,901

12,467

166

146

2,301

730

472, 711

23,677

9

170
233
108
29
452
297
315
2,299
52
1,185

135

Salt Lake City
Total other reserve cities...

89
333
35
108
105
93
393
73
138
474
167
30
16
36
7
79
29
309
42
56
14
30
25
21
180
5
20
35
55
323
36
168
603
63
694

250
95

1,320
10
737
1,779
250

21, 542
1,810
36

COUNTRY BANKS

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States.




247

85,279
15,213
33,611
187,040
11,656
74,389

89
296
61
804
86
766

87,451
17,379
34,448
197,838
13,842
82,605

596

407,188

2,102

433,563

7
207

TABLE NO. 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued

CO

o

DECEMBER 31,1926—Continued
[In thousands of dollars]
Demand deposits

Time deposits
O

Cities. States, and Territories

CertifiDeposits
Individual cates of State or subject
other
deposits munici- to notice
deposits
of less
subject to due in
pal
less than deposits than 30
check
30 days
days

Dividends
unpaid

Other
demand
deposits

Total

Certificates of
deposits
due on or
after 30
days

State
and
other
municipal
deposits

Other
time
deposits

Postal
savings
deposits

Total

o

COUNTRY BANKS—continued
New York
New Jersey
Pennsylvania.
Delaware
Maryland

320,037
366,694
432,392
6,335
22, 910

Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama..
Mississippi
.
Louisiana
Texas
Arkansas
Kentucky
Tennessee
-

__.

Total Southern States
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota




.___

2,715

21,110

58,798

85, 796
71,204
66,517
37,807
33,283
78, 776
54,286
31,768
36,704
263,315
36,023
72,219
56,989

5,997
1,683
1,055
317
1,877
1.084

l', 398
234
934
9,185
1,813
660
542

2,701
3,501
5,282
2,340
1,360
15.099
1,974
4,475
4,466
22,041
1,221
808
342

924, 687

__
_

219

1,148,368

Total Eastern States

0, 740
5,553
8,598

26, 779

65,610

189,828
115,690
205,334
71,241
80,923
64,945

10, 790
5,855
10,469
4,746
3,185
8,483

21,784
9,848
8,487
7,626
3,381
9,231

32,412
915
22, 756

2,797
632
9,682
3,787
124

363,851
376.210
482; 588
10,222
26,258

44,875
11,197
126,367
173
3,180

1, .507
164
9,141

33

1,855
1,890
3,907
100
257

137

.503, 923
383,802
691,451
7,956
62, 672

5,822

8,009

17,022

1,259,129

185, 792

11,009

1,649,804

1,229
656
602
287
275
318
407
235
263
1,322
192
419
320

690
42
49
74
102
385
255
1,182
697
692
1,621
133
5

96,413
77, 722
73,617
40,830
36,897
95,662
58,335
37,894
43,064
297,040
40,875
74,255
58,198

33, 599
19,131
23,406
9,210
9.869
9.059
6,926
12,518
3,613
16,287
11,388
27,865
26,565

1,153
525
514
1,278
161
4,553
39
3,485
306
4,123
466
111

1,274

6,525

5,927

1,030,802

209,436

219
18
155

1,177
820
1,324
576
664
506

549
893
595
428
158
3,387

224,347
133,124
226,364
84, 617
88,534
86,654

58,453
49,659
77, 798
29, 745
51, 781
71,774

10
526
5,253

636
112
5
15
485
5
16

223
102

084
1,225
4,097
57
14

5.51,049
396,388
831,056
8,186
66,003

0,077 1,852,082
321
297
328
563
148
1,587
110
40
32

49,157
31,921
42,776
16,543
43,138
32,876
15,312
14,875
27,293
16,094
28,190
29, 719

1,103
195
64
34

121,561
69,110
56,169
53,827
26, 721
58,337
39,951
31,355
18,826
48,806
28,143
56,230
56,926

17,322

434,382

4,822

665,962

4,653
723
1, 735
517
281
1,912

122,190
63, 651
133,042
118, 792
85, 598
58,394

546
1,544
645

185,941
314,579
214,119
149,699
138,109
133,310

449

1,230

d

Iowa
Missouri

. _.

80,504
41,373

Washington
Oregon
California
Idaho.. _
Utah
Nevada
__ _ _
_
Arizona
Total Pacific States
Alaska (nonmember banks)
Hawaii (nonmember banks) _
Total (nonmember banks)
Total country banks
Total United States




_ _
_

47
28

272
152

477
40

89,981
45,873

60,785
14, 716

155
258

36,940
8,861

1,272
265

99,152
24,100

53,193

63,653

792

5,491

6,527

979,494

414, 711

10,234

627,468

6,596

1,059,009

28,863
22,955
30,483
78,988
26,547
16,529
44,548
14,324
107,177

4,604
3,255
6,161
9,020
2,644
1,151
4,179
1,186
3,905

3,313
4,491
2, 523
10,613
7,730
4,858
3,972
4,274
21,046

21
16
33
15

83
37
61
288
119
66
69
17
252

69
288
78
353
232
36
122
24
249

36,953
31,042
39,339
99,277
37,272
22,640
53,547
19,825
132,809

29,142
18,210
28,574
30,871
12,632
5,252
10,599
2,611
21,571

1,158
406
141
457
1
14
543
128
4,943

10,396
6,602
5,160
9,285
13,426
7,269
17,338
2,141
11, 957

803
1,818
45
641
2,981
1,386
1,104
576
1,164

41,499
27,036
33,920
41,254
29,040
13,921
29,584
5,456
39,635

36,105

62, 820

922

992

1,451

472,704

159,462

7,791

83, 574

10,518

261,345

1,645
4,009
4,114
2,101
147
314
152

11,396
6,270
24,154
7,083
858
997
2,104

24
8
224
554

341
183
674
61
10
18
15

183
42
534
445
36
23
51

61,659
45,445
171,738
32,541
4,309
7,403
15,724

9,292
8,288
10,290
5,406
880
297
830

727
162
8,831
210
75
1,150

38,960
18,156
91,102
9,650
3,480
6,429
5,222

2,078
620
748
1,693
37
205
349

51,057
27,226
110,971
16,959
4,472
6,931
7,551

270,049

_ _
_

958
2,338

48,070
34,933
142,038
22,297
3,258
6,051
13,402

:---

1,942

370,414

Total Middle Western States
North Dakota
South. Dakota
Nebraska
Kansas
IVtontana
Wyoming
-Colorado
New Mexico
Oklahoma
Total Western States.-

7,723

849,838

-

12,482

52, 862

810

1,302

1,314

338,819

35,283

11,155

172,999

5, 730

225,167

2,061
2,554

13
279

26
1,413

2
19

40

2,142
4,265

98
366

1,064
364

192
3

1,354
733

657
180

4,615

292

1,439

21

40

6,407

464

1,428

195

162,428

305,348

9,766

24,641

33,011

4,560,066

1,028,825

58,107

3,376,843

36,040

4,499,815

9,855,073

218,395

542,715

14,086

38,834

99,566

10,768,669

1,265,364

131,076

5,065,564

71,438

o

O

2,087

4,024,872

3

6,533,442

o

o
2
o
4

TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued

OO

S

MARCH 23, 1927
[In thousands of dollars]
Demand deposits

Cities, States, and Territories

Deposits
CertifiIndividual cates of State or subject
other
deposits deposits munici- to notice
of less
subject to due in
pal
less than deposits than 30
check
30 days
days

Time deposits

Dividends
unpaid

Other
demand
deposits

Total

Certificates of
deposits
due on or
after 30
days

State
and
other
municipal
deposits

Other
time
deposits

Postal
savings
deposits

Total

CENTRAL RESERVE CITIES

New York
Chicago
Total central reserve cities „ _

1,978,763
473,516

5,395
3,179

13,515
11,867

292
41

2, 452,279

8,574

25,382

333

389, Oil
20,056
45,777
3,403
380,497
227,483
69, 684
73,214
28,918
45,801
28,586
19,709
20,355
64,106
12,369
35,509
7,393
61,709
28,765
7,391
1,647
47,530
7,432
19, 575
35,080

1,860
3
364
45
961
4,594
666
415
72
854
19
427
23
134
157
254
281
994
869
34

50
13,086
824
235
10,042
7,207
3,337
1,274
2,947
1,555
8,047
242
1,018
5,566
654
6,422
1,397
3,128
2,407
2,276
289
1,269

66,132
167
66,299

2,064,097
488,770

10,769
7,136

14,576
4,650

358,742
64,779

6,461
1,288

390,548
77,853

2,552,867

17,905

19,226

423,521

7,749

468,401

3,087
33,135
338

394,911
66,280
47,303
3,683
394,183
243,600
73,701
76,231
31,938
48,217
36,702
20,380
21,597
69,834
13,180
42,187
9,072
65,910
32,058
9,701
1,936
48,840
7,884
20,721
42,698

22,173
840
346
481
9,449
8,148
4,050
4,638
701
107
8,269
71
2,507
919
771
986
487
2,827
1,431
260
670
10,475
2,652
4,495
1,972

129,105
8,947
9,121
10, 592
108,320
75,573
27,141
33,920
16,383
27,783
22,759
14,635

3,229
13
1,546
4
2,038
977
76
314
60
245
1,584
113
105
148
165
139
43
85
118
16
15
111
95
61
85

154,507
9,800
11,063
12,857
119,807
84,716
31,457
39,372
17,144
28,135
39,361
15,319
3,896
17,613
6,449
11,511
13,458
30,757
12,422
5,509
1,562
27,862
6,801
18,288
16,027

OTHER RESERVE CITIES

Boston
Albany. _ __
Brooklyn and Bronx
Buffalo
PhiladelphiaPittsburgh
... _ _
Baltimore
Washington. _
Richmond
Atlanta. _
Jacksonville .
Birmingham
_
_
New Orleans
Dallas _
El Paso__
Fort W o r t h . .
Galveston.. _
. . .
______
H o u s t o n . . . ___
San Antonio
Waco
Little Rock _
Louisville
_ _
_
Memphis
Nashville.
Cincinnati___




34
401
4
593

1,093
7,018

588

2,274
1,191

315

101
39
13
211
1
4
1
3
6

308
3,086
1,117
3
49
2
198
22
2

1
1
1

78
16

7
30
3
6

21
46
1

50
1,780
18
190
500
6,749
500
1,284
560
148
50
5,100

1,500
300

16,546
4,953
10,386
12,780
27,795
5,773
5,233
877
17,276
4,054
12,232
13,670

Cleveland
_
Columbus
Toledo
ndianapolis
Chicago
Peoria_ _
Detroit
Grand Rapids _ _
Milwaukee...
_
_
Minneapolis
St. Paul
Cedar Rapids _
_
Des Moines
Dubuque
Sioux CityKansas City, Mo
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
Wichita _
HelenaDenver _
Pueblo
Muskogee__ _ _
_
Oklahoma City- _
Tulsa
Seattle.
Spokane__
Portland
Los Angeles
Oakland
San Francisco
Ogden
Salt Lake City
Total other reserve cities
Total all reserve cities

_
_
. _

_

23,180
39,777
3,059
40,997
26,422
11,699
106,644
12,225
60, 586
73,979
45,750
6,331
18,487
3,185
9,103
56,975
8,028
158,035
8,438
43,702
3,480
10,755
12,195
2,857
62,911
8,439
4,846
31,879
57,448
49,319
10,857
41,082
118,087
14, 301
255,908
3,179
15,320

761
633

7
538
9
2,562
221
756
349
78
118
466
444
1,268
333
1,202
190
1,010
288
661
316
100
320
157

12, 663
20,444
564
4,312
1,842
1,535
1,972
850
8,465
9,390
6,544

3
4
5
10

31

16
192

1,801
25
90
3,063

27
5
3
1
1
1
11
1
228

871
7
111
40
100
59
451
13

10
21
4
3
55

209

620
435
452
6
441
913
61
2,875
316
546

5,008
1,610
3,087
1,612
2,201
2,270
410
8,834
217
1,320
10,421
6,137
11,892
3,717
5,557
9,200
3,900
10,313
567
1,735

3,140,465

33, 510

244,951

4,465

1,420

47,154

_ 5, 592, 744

42, 084

270,333

4,465

1,753

113,453

43

34

14

10
4
10
1

17

1

1
145
3

16

1
160
201
135
27
650
174
255
1,820
51
377

96

37,478
60,865
3,623
45,321
28,923
13, 314
111, 278
13,323
69,115
84, 589
52,657
6,611
20,428
3,681
9,640
61,372
8,362
164,716
10,238
47,856
5,380
13,627
14,781
3,368
72,229
8,813
6,367
43,065
64,048
62,330
14,755
47,481
130, 023
18, 313
269,489
4,062
17, 697

4,815
2,457
125
4,247
1,488
4,180
3,683
3,764
8,381
12,044
8,125
952
610
1,776
2,113
5,661
969
19,596
281
3,055
715
839
905
465
1,171
1,027
1,013
3,064
1,681
3,611
4,082
2,729
8,190
926
17, 429
852
1,744

12,104
500
3,800

3, 471, 965

228,490

125, 398

1, 605, 849

31, 207

1,990,944

144, 624

2, 029, 370

38, 956

2, 459, 345

345
65
2,968
1,660

662
1,000
250
129
140
1,376
18
734
1,585
366

16,100
62, 226
641

28,604
10,102
2,821
3,099
47,903
6,258
34,063
9,000
23,575
45,605
22,635
5,017
1,765
4,479
5,204
4,963
4,855
53,110
3,669
9,325
527
337
4,602
1,365
46,945
3,267
1,263
8,933
18,145
28, 561
12,145
48, 515
129,069
4,327
350,558
764
4,620

25
257
39
129
382
30
394
22
314
703
2,843
26
2,067
30
588
1,112
93
384
19
287
397
453
168
103
1,857
204
111
1,710
58
2,433
93
1,248
350
146
609
18
120

45, 548
13,316
6,785
7,475
50,118
10,533
41,108
12,786
32,270
60,012
33,603
5,995
4,442
6,285
7,905
12,398
5,917
74,090
3,969
12,917
1,768
1,629
5,815
1,933
51,349
4,516
3,121
15, 292
20,250
34, 605
16,320
52,492
153,709
5,399
430,822
1,634
7,125

6, 024, 832

246, 395

2,017
2,227
879
11,753
2,120
7,489

8

87,862
15, 696
34, 057
192,799
12,042
77, 991

88
288
61
803
84
739

89,967
18,211
35,005
205,355
14,246
86,219

26,485

8

420,447

2,063

449,003

COUNTRY BANKS

Maine
Nftw "Hampshire
VermontMassachusetts
Rhode Island
Connecticut.
Total New England States




34,379
34,403
15, 574
216,069
25,250
116, 911

1,055
1,922
671
3,850
3,250
2,462

442,586

13,210

10
1
154

132
62

165

194

5
60
53
568

4
8
5
36
1
10

242

35,453
36, 394
16,303
220,809
28, 563
119,625

64

928

457^147

CO

TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued

O

MARCH 23, 1927—Continued
[In thousands of dollars]
Demand deposits
Cities, States, and Territories

CertifiIndividual cates of
deposits
deposits
subject to
due in
check
less than
30 days

Time deposits

State or
other
municipal
deposits

Deposits
subject
to notice
of less
than 30
days

Dividends
unpaid

39,428
555
23,219

377
10
5,963

114
49
562

Other

demand
deposits

Total

Certificates of
deposits
due on or
after 30
days

State
and
other
municipal
deposits

Other
time
deposits

Postal
savings
deposits

Total

COUNTRY BANKS—continued

New York
New Jersey
Pennsylvania
Delaware
Maryland
Total Eastern States...
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida. . .
Alabama
Mississippi
Louisiana
Texas._
Arkansas
Kentucky
Tennessee

729

9,186

1,189,799

187,900

36
24
10
7
5
4
IS
3
15
45
6
9
7

370
47
56
52
102
327
30
253
431
749
398
167
4

89,976
80,595
70,598
39,952
33, 369
91, 593
53,506
36,583
36,504
299,167
38,916
72, 356
53,734

...

1,662

186

2,986

996,849

184
60
134
45
217
82

109
43
35
31
24
8

578
825
816
479
93
272

_




208

2,523

79

22,027

65,725

6,429

81, 606
74,116
63,028
37,263
31,091
73,933
50,098
28,925
31,769
253, 732
34,155
71,152
52,696

5,523
1,533
835
147
1,129
1,435
1,205
295
863
7,539
1,675
657
791

2,317
4,875
6,669
2,483
1,032
15,894
2,158
7,107
3,426
36.883
1,373
371
236

124

883,564

•_.

Total Southern States
Ohio...
Indiana
Illinois
Michigan
Wisconsin
Minnesota.

46,160
13,012
125,017
181
3,530

2,013
279
9,498

4

358,499
327,657
468,827
9,029
25, 787

7,489
4,001
10,329

1,085,703

. ...

_

c

a

1,937
779
5,536
2
932

309,154
322,263
423,218
9,027
22,041

23,627

84,824

186,179
106,675
209,173
71,330
84,150
62,024

8,789
4,621
10,472
4,697
3,137
7,507

30,953
9,236
9,109
13,461
13,720
10,266 '

10

219
1,309

226,792
121, 460
229,739
90,043
101,341 '
80,159 '

116

513,573
394,899
716,664
8,118
62,901

721
1,143
3,917
64
20

562,467
409,333
855,096
8,363
66,567

11,906

1,696,155

5,865

1,901,826

35,144
20,176
23,200
8,625
10,461
9,014
7,243
13,289
3,560
19,526
11,680
28,813
28,301

2,034
333
358
3,201
425
5,090
51
4,990
330
4,263
477
113
27

90,361
52,451
32,001
37,607
16,656
42,224
32,455
16, 553
14,524
29,555
16,431
29,911
31,276

135
317
356
727
150
1,932
113
42
36
1,231
238
69
45

127,674
73,277
55,915
50,160
27,692
58,260
39,862
34,874
18,450
54,575
28,826
58,906
59,649

219,032

21, 692

442,005

5,391

688,120

61,091
49, 509
78, 990
28, 859
52,760
70, 784

5,606
1,006
1,930
816
3,813
1,568

126,261
64,589
133,754
121,664
82,766
59,808

558
837
1,811
582
375
1,429

193,516
115,941
216,485
151,921
139,714
133, 589

o
O

i

82,886
39,063

H*
k3
Si
o
I
to
00
I
/
[2

Total Western States...
Washington
Oregon
California
Idaho
Utah .
Nevada
Arizona.

.

Total Pacific States.
Alaska (nonmember banks)
The Territory of Hawaii (nonmember banks) .

47,645

90,541

775

3,663
3,327
6,091
8,910
2,661
1,058
3,018
944
3,070

5,378
4,165
1,996
8,859
6,215
4,168
6,644
3,973
24,335

21
12
30
14

87

356,183

North Dakota
South Dakota
Nebraska.
Kansas. _.
Montana..
Wyoming
Colorado .
New Mexico
Oklahoma

2,826

26,061
21,596
30, 780
76,555
26,097
14,396
40,738
13,158
106,802

Total Middle Western States

6,918
1,504

841,480

Iowa.
__ _
Missouri

32,742

65, 733

177

43,282
32,071
125,414
20,436
2,740
5,709
13,461

1,430
3,666
2,972
2,005
130
207
224

22,315
6,854
21,264
5,537
640
868
2,130

14
3
417
630
6

243,113

10,634

59,608

1,070

2,093
2,317

19
168

53
1,022

970

53

5

37

91,189
43,437

68,092
15,207

36,170
9,093

1,516

276

276

24,852

262

3,457

984,160

415,292

15,035

634,105

7,384

1,071,816

3

15

66
278
81
264
227
43
85
25
265

35,192
29,378
38,979
94,614
35,212
19,665
50,498
18,100
134, 574

29,275
17,364
28,363
31,391
12,918
5,469
12,278
2,924
23,168

1,240
575
65
318
4
24
447
283
4,839

10,349
6,374
4,579
9,749
14,020
7,250
17,901
2,169
12,146

921
1,983
52
929
3,080
1,311
1,134
649
1,383

41,785
26 296
33,059
42,387
30,022
14,054
31,760
6,025
41,536

43

1,334

456,212

163,150

7,795

84,537

11,442

266,924

7
2
34
2
1
1

104
48
884
7
36
23
66

67,152
42,644
150,985
28,615
3,548
6,814
15,882

9,274
8,628
10,408
5,569
812
462
970

948
346
7,885
185
166
9
1,182

37, 794
18,023
83,926
9,935
3,537
6, 530
5,263

1,860
501
526
1,742
39
207
344

49,876
27,498
102,745
17,431
4,554
7,208
7,759

E
fel
_
9
O
g
|t

47

1,168

315,640

36,123

10, 721

165,008

5,219

217,071

«J

30

2,195
3,507

98
724

1,028
356

153
3

1,279
1,083

5
g

7

1
12
12

13

357

20

95, 798

£rf
£
Hf
t
O
#
h=
O

4,410

187

1,075

30

5,702

822

1,384

156

2,362

^

Total country banks

3,857,039

150,072

367,671

10,307

1,331

19, 089

4,405, 509

1,048,804

67,157

3,443,641

37,520

4,597,122

^

Total United States

9,449, 783

192,156

638,004

14, 772

3,084

132,542

10, 430,341

1,295,199

211, 781

5,473,011

76,476

7,056,467

^

Total (nonmember banks)




CO

CO

TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued
JUNE 30, 1927
[In thousands of dollars]
Dem and deposits

Cities, States, and Territories

CertifiDeposits
Individual cates of State or subject
other
deposits munici- to notice
deposits
subject to due in
of less
pal
less than deposits
check
than
30 days
30 days

Time deposits

Dividends
unpaid

Other
demand
deposits

Total

Savings
deposits

State and
Postal
other
Other time savings
municipal deposits
deposits
deposits

Total

CENTRAL RESERVE CITIES

New York.
Chicago.—
Total, central reserve cities

2,135,769
492,074

4,616
5,883

15,132
82,943

2,236
2,251

103,195
211

2,260,948
583 362

216,116
14,424

13,644
7,250

192,673
70,777

5,684
1,290

428,117
93,741

2, 627, 843

10, 499

98, 075

4,487

103,406

2, 844,310

230,540

20,894

263,450

6,974

521,858

413,966
21,142
50,149
4,429
387,890
227,342
74,159
76,487
28,864
43, 376
25,014
27, 212
21,471
20,051
65,518
12,085
36,774
6,864
61,915
26,905
7,004
1,586
39,585
7,738
21,450

2,655
4

50
10,960
950
315
9,941
11,263
3,541
1,272
3,051
1,664
266
3,680
703
1,438
3,969
467
4,353
1,179
3,065
2,233
1,637

55,228
1,335
1,177
1,104
37,108
8,175
5,414
1,399
464

2,860
13
1,272
3
2,003
939
78
333
62
278
336
1,574
120
117
148
208
142
43
86
110
20
15
108
94
67

178, 077
10,524
12,859
14,158
117,823
79,291
32,416
41,484
19,936
30,156
22,837
39, 780
15,922
3,101
18,237
6,341
12,308
13,755
31,478
13,420
5,818
1,396
29,330
7,311
20,113

OTHER. RESERVE CITIES

Boston
Albany
Brooklyn and Bronx.
Buffalo.
Philadelphia
Pittsburgh
Baltimore
Washington.
Richmond
Atlanta.
_.
_
Savannah
Jacksonville
Birmingham
New Orleans
Dallas
ElPaso
Fort Worth
Galveston
Houston
San Antonio
Waco
Little Rock
Louisville
Memphis...
Nashville




310
68
1,513
4,022
699
466
22
848
615
34
413
29
118
186
417
275
1,197
802
92
30
521
6

513
746
1,131

736

2,378
1,204

824
38
87
33
779
458
470
253
190
149
99
52
95
101
260

4,917
38, 740
369
299
4,204
1
1,422

111
18
49
7
398
19

132
61
86
57
75
267
30
67

55
121

423,148
70,884
51,865
4,845
402,800
248, 493
78,870
79,900
32,127
46,148
26,012
31,027
22,689
22,017
69,884
12,738
41,679
8,379
66,320
30,086
8,808
2,099
40,628
8,344
22, 775

119,989
9,176
10,410
11, 457
78, 587
70,150
26,124
39,252
19,410
29,878
20,691
28,024
14,777
1,868
16,292
4,924
11,334
12, 618
30,231
6,537
5,645
873
4,374
17,130

1,594
125
27
800
500
20
7,381
500
1,116
560
289
50
5,234
8
1,115

1,790
2,801
525
1,797
649
832
805
1,111
1,539
153
500
2,764
2,843
1.801

Cincinnati
Cleveland
Columbus
Toledo. _____"
Indianapolis _
Chicago
Peoria
Detroit
Grand Rapids
Milwaukee
Minneapolis
St. Paul
Cedar Rapids
:__.
Des Moines
Dubuque
Sioux City
Kansas City, Mo
St. Joseph
St. Louis
Lincoln
Omaha__
Kansas City, Kans_.
Topeka
Wichita..
Helena.
Denver
Pueblo
Muskogee
Oklahoma City
Tulsa.
Seattle
Spokane.
Portland..
Los Angeles
Oakland
San Francisco—
Ogden_._
Salt Lake City

34,696
28,069
44,492
4,120
41, 661
25,348
12,960
117,438
10,926
63,341
76,876
49,062
7,857
18, 250
3,380
9,805
60,977
7,463
149,100

1,098
858
894
34
7
647
8
2,421
179
483
711
264
70
97
494
539
5,346
326
3,656
332
912
297
524
262
100
324
153

6,930
7,023
10, 339
7,383
1,792
1,535
1,736
1,382
3,905
10,472
5,965

50
"l85"

1,580
25
94
3,102
515
4,351
2,292
2,783
2,826
3,349
3,109
574
6,440
209
1,424

44, 332
3,308
9,738
12, 789
2,874
61,196
8,325
5,523
30,545
52,630
53,857
10,877
41, 621
119, 701
14, 861
276, 619
3,804
14,810

733
745
425
6
490
1,210
51
3,533
227
528

8,091
11,109
3,608
6,512
9,642
4,023
10,179
415
1,092

Total, other reserve cities _

3, 251, 205

44,326

222,891

Total, all reserve cities

5, 879, 048

54, 825

37,356
32,154
16,592
213,113
25, 233
137,635

807
1,746
365
3,941
3,444
2,461

""2I"

462,083

12,764

406

173

COUNTRY BANKS

Maine. _
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total, New England States.




9
91
110
14
115
77
122
413
74
167
293
167
23
11
36
8
105
14
306
52
69
21
33
30
19
196
5
25
53
78
193
20
169
678
64
1,667

42, 735
37,069
55,847
4,168
49,166
28,904
14, 665
122,045
12, 561
68,007
88,882
55,477
8,148
19,977
3,935
10,447
69,635
8,318
157,621
11, 755
48,102
6,454
13,644
16,192
3,574
68,391

223
200
29
828
195
1,318
4,449
62
2,309

7,195
40, 229
61,573
66,412
14,706
50, 111
135, 680
19,061
294,307
4,446
16, 526

16,726
32,908
9,446
3,450
7,358
48, 362
5,705
37,103
12,941
31, 869
43,845
25,905
8,134
1,854
4,742
4,847
6,008
5,524
53,356
3,823
8,647
1,612
369
4,836
1,435
43,244
3,543
1,649
7,268
16,109
28,848
14, 082
48,995
109,101
2,454
366,332
1,048
5,314

12
1,040
40
37
111
480
19
13
39
1
105

2
7
235

500
12,907
2,235
3,500

757
731
2,353

505
65
1,985

4,655
1,435
5,010
3,007

1,685

15,404
5,819
369
560
1,751
2,108
1,360
536
17, 672
181
3,854
730
715
819

""BOO"
294
97
60
40
1,242
18
681
2,320
490

95
26
256
54
101
390
32
393
21
304
756
2,976
37
2,240
29
589
1,153
124
387
19
303
384
518
177
100
1,848
205
170
1,683
65
2,398
95
1,489
363
145
637
16
133

18,078
46, 572
14,290
7,004
12,114
50, 692
10,812
42,488
12,962
34,866
61,175
34,700
8,540
4,654
6,522
7,544
10,206
6,184
71,915
4,023
13,098
2,823
1,662
5,872
2,033
47,316
4,825
3,295
18, 710
19,957
34, 021
16, 410
51,158
151,957
5,892
452,982
1,653
7,088

400

1,059
795
7,439
3,293
2,775
2,233
674
26,296
3,293
17, 883
589
1,241

4,727

10,286

63 787

3, 597, 222

1, 645,001

134, 340

272, 883

4,727

14, T73

167,193

6,441, 532

1,875, 541

155, 234

349
203
215
899
126
592

845
64
377

91,264
15,520
33,932
192,837
12, 507
79,325

120

904
3,134
2,465
13,639
2,307
9,121

85
287
57
746
87

248

38,540
34,948
17,236
218,821
28,858
140,957

92,373
18,941
36,463
207,222
14,901
89,139

2,384

1,540

479,360

425,385

129

31,570

1,955

459,039

96

18
367

124
55
183

16,197

~68,~l30~

31,740 2, 083,964
!8, 714 2, 605, 822

TABLE NO. 47.—Classification of deposits in national banks at dale of each call during year ended October 10, 1927—Continued

00

JUNiE 30, 1927—Continued
[In thousands of dollars]
Demand deposits
Cities, States, and Territories

CertifiIndividual cates of
deposits
deposits
subject t o
due in
check
less t h a n
30 days

Time deposits

State or Deposits
subject
other
Divimunici- to notice dends
of less
pal
unpaid
than
deposits 30 days

Other
demand
deposits

Total

3

State and
Postal
Savings
other Other time savings
deposits municipal deposits deposits
deposits

Total

3

COUNTRY BANKS—continued

New York
New Jersey
Pennsylvania
Delaware
Maryland

322,858
337,266
417,729
9,409
23, 709

Virginia
West Virginia
North Carolina
South Carolina
Georgia
—
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky.
:
Tennessee
Total, Southern States
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota




._
•_.

19,644

83,102
71,431
GO, 651
35, 356
30,411
58,527
56,048
30,030
32,528
250,333
35, 750

6,161
1,998
992
376
1,009
1,810
1,545
321
896
7,473
2,076
635
339

1,887
3,760
7,273
5,221
916
16,042
2,237
5,314
3,095
28,505
1,412
795
249

869,290

_

2,553

22,423

55,456

__

179

1,110,971

Total, Eastern States. -

7,491
3,654
11,099

25,631
8,497
4,817

29,065
13,266
10,677
11,733
8,917
17,831

1
116
4,025

76,706

196,328
110,660
216,891
75,087
82, 569
64,591

4,817
3,089
7,308

40,239
809
26,043

2,119
989
5,535
4
130

374,472
344,557
468,215
9,488
26,905

560,128
395,200
811,161
8,539
66,572

2,736
332
5,727

91

1,764
1,723
3,784
75
243

4, 233

7,589

8,777

1,223,637

1,841,600

1,211
590
506
255
250
237
360
181
143
856
92
381
310

154
36
106
100
52
286
264
270
306
1,359
1,664
435
2

92, 515
78,251
69,757
41,308
32,638
76,902
60,468
36,116

5,372

5,034

1,110
753
999
558
595

667
664
595

436
229

283
7

189
87
36
219

125

652
1,111

774

22,580
14,945
48,604
9
1,550

586,096
411,588
869,390
8,599
68,920

9,569

87,688

5,736

1,944,593

120, 721
64,658
45, 789
44,532
22,890
45, 722
42,976
21,937
16,952
34,364
22,567
46,675
45,554

1,292
306
1,117
5,220
452
7,157
603
3,197
214
4,030
216
78
45

9,046
12,457
5,183
5,243
4,270
2,141
9,759
1,177
16,242
6,824
14,245
15,378

114
286
151
774
171
1,791
122
45
41
1,
275
73
58

130,960
74,296
59,514
55,709
28,756
58,940
45,842
34,938
18,384
56,022
29,882
61,071
61,035

983,002

575,337

23,927

110,798

5,287

715,349

235,856
130,247
239,118
93,197
95,555
90,297

160,803
95,833
167,537
147,974
111,027
79,688

5,847
982
2,387
1,487
2,243
1,777

31,234
22,654
48, 729
7,341
28,707
52,150

495
1,849
606
412
2,034

198,504
119,964
220,502
157,408
142,389
135,649

41,001
71,913
56,356

o
o

iE
O

81,808
38, 995

North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming .
_ _
_
Colorado
New Mexico
Oklahoma.
Total, Western States
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Total, Pacific States

. ..

Alaska (nonmember banks)
The Territory of Hawaii (nonmember banks).
Total (nonmember banks)
Total, country banks._
Total, United States.




46

157
138

501
36

89, 973
43, 456

53, 621
17,465

2
1258

40,047
7, 579

1,662
287

95,332
25, 589

46, 435

95, 218

718

4,679

3,720

1,017, 699

833, 948

14,983

238,441

7, 965

1,095,337

3,549
3,132
5,428
8,932
2,589
1,204
3,646
1,171
3,575

3,348
4,876
2,667
12,087
6,716
4,355
3,879
4,321
25,848

419"

24
25
28
263
56
58
40
18
150

58
177
63
254
211
23
243
34
222

30,650
29,965
37,114
98,092
34,740
20,216
46,955
18,465
132,852

19,178
10,547
11,166
23,305
20,549
10,098
24,020
4,252
16,842

1,280
634
50
388
1
9
614
228
5,237

20, 572
12,862
20 941
18,614
6,904
2,246
6,871
616
19,593

961
2,170
58
1,059
2,983
1,201
1,153
650
1,750

41,991
26,213
32 215
43,366
30,437
13,554
32,658
5, 746
43,422

345,278

...

1,044
2, 685

23,671
21, 744
28,928
76,485
25,168
14,576
39,147
12,921
102,638

-

6,417
1,602

866, 929

Iowa

Missouri
Total, Middle Western States

33, 226

68,097

501

662

1,285

449,049

139,957

8,441

109, 219

11,985

269,602

46,413
33,029
130,456
18,619
2,561
5,470
12, 558

1, 625
2,916
3,142
1,547
146
227
115

18,498
10,192
22, 298
6,425
345
945
1,914

8
17
69
228

243
122
638
23
11
26
14

171
48
816

66,958
46,324
157,419
26,843
3,101
7,085
14,650

41,895
20,119
92, 512
11,168
3,904
6,810
6,044

920
302
9,276
126
186
11
1,744

5,020
6,837
5,551
4,741
436
153
336

1,999
571
562
1,599
47
213
321

49,834
27,829
107,901
17,634
4, 573
7,187
8,445

249,106

9, 718

60,617

374

322,380

182,452

12, 565

23,074

5, 312

223,403

2,489
2,319

18
35

72
2,109

2,595
4,475

1,099
351

87
782

156
4

1,342
1,137

11
71

52

1,077
2
12

3^
365
49
1,488
14

4,808

53

2,181

14

14

7,070

1,450

869

160

2,479

3,908,465

150,250

372, 869

6,978

21,777

21,858

4,482,197

4,000,129

69,614

601, 659

38,400

205,075

693, 835

11, 705

36, 550

189,051

10, 923, 729

5, 875, 670

224,848

1,137,992

77,114

•8

i
o
I

4, 709,802

9, 787, 513

O

7,315,624

00

TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10

CO

1927—Continued

OCTOBER 10, 1927
[In thousands of dollars]
Demand deposits

Time deposits

Individual
deposits
subject to
check

Certificates of
deposits
due in
leSvS than
30 days

State or
other
municipal
deposits

1,972,432
520,972

Cities, States, and Territories

6,628
3,991

9,913
51,090

533
90

46,394
885

2,493,404

10,619

61,003

623

409,641
21,588
53,172
4,914
376,616
215, 538
74,610
75,399
27,467
45,728
26,670
24,669
32,244
21,852
69, 741
12,551
37,755
7,539
62,928
28,038
8,336
1,648
46,004
8,648
19,631

1,868
7
403
43
1,825
2,588
243
313
22
1,101
368
60
1,710
25
128
210
301
244
1,453
715
99

50
10,094
924
285
7,750
6,968
6,571
1,236
2,216
1,166
343
2,498
2,064
510
2,132
545
3,446
995
1,847
1,789
1,140
269
937

Deposits
subject
to notice
of less
than
30 days

Savings
deposits
(including
time certificates of
deposits)

State
and
other
municipal
deposits

2,035,900
577,028

233,538
22,318

11,598
7,250

193,352
68,630

5,231
1,209

443,719
99,407

47,279

2,612,928

255,856

18,848

261,982

6,440

543,126

185
79
3
5
38
30
33
250
6
3
7
5
11
12
24

4,552
17,185
312

3

134,694
1,189
13,181
13,055
79,895
88,012
28,952
36,579
18,912
30,171
21,912
28,853
17,358
1,824
16,397
5,715
11,344
12,542
30,878
8,248
5,920
1,532
28,358
7,482
13,946

62,289
9,463
921
768
38,199
2,253
8,750
4,822
646

5
2
6
3

419,396
48,953
54,814
5,247
388,292
229, 712
81,459
78,210
29, 711
48,074
27,388
27,279
36,029
22,875
72,050
13,306
41,510
8,780
66,355
30,571
9,575
1,918
46, 981
9,121
20,897

2,907
13
1,108
3
1,993
912
68
333
57
335
348
1,329
123
113
152
238
149
41
92
109
19
15
111
98
67

199,890
10,665
15,220
15,403
120,087
91,204
38,570
42,234
19,615
30,506
22,504
37,771
18,494
3,075
18,213
6,514
12,442
13,436
31,388
13,108
5,939
1,547
28,907
7,580
21,064

Dividends
unpaid

Other
demand
deposits

Total

Other
time
deposits

Postal
savings
deposits

Total

CENTRAL RESERVE CITIES

New York
Chicago

_

Total central reserve cities
OTHER RESERVE CITIE3

Boston . .
Albany
Brooklyn and Bronx
Buffalo
Philadelphia
Pittsburgh.
Baltimore Washington.
Richmond
Atlanta.
Savannah.
Jacksonville.
Birmingham.
New Orleans
Dallas
El Paso___
Fort Worth
Galveston_._
Houston
San Antonio
Waco
Little Rock.
Louisville.-.
Memphis
Nashville

. _.




29
426
13

1,150

3,100

1,665
1,159

398
3,429
2
1,012
76
47
476
25

121
26

1
11

41

47
99

10
1,577
27
800
500
155
6,687
500
1,119

89
902
513
19
1,664

561
443
50
4,285

949
410
368
466

1,815

5,236

438

Cincinnati
Cleveland
Columbus
Toledo...
Indianapolis
Chicago
Peoria
Detroit
Grand Rapids
Milwaukee
Minneapolis
St. Paul
Cedar Rapids
Des Moines
Dubuque
Sioux City
Kansas City, Mo. _.
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans..
Topeka
Wichita
Helena
Denver
Pueblo
Muskogee
Oklahoma City
Tulsa.
Seattle

37,716
26,692
45,437
3,955
41,197
28,313
11,616
97,367
14,473
71,592

1,223
370
1,005
120
8
525
209
3,730
193
667
244
95
163
437
498
5,012
328
1,279
162
973
303
395
252
98
362
157

5,660
4,841
12,301
400
2,770
2,042
1,935
3,518
350
4,845
7,039
2,903

58,947
7,702
19,331
3,745
9,623
65,925
8,798
160,491
9,784
46,303
3,759
10,502
14,235
3,734
62,052
7,005
5,214
30,332
55,299
57,092
13,066
45,444
193,731
14,399
280,176
3,839
15,586

538
361
530
6
724
2,960
19
3,099
166
390

Total other reserve cities,

3,387,348

41,795

185, 572

Total all reserve cities

5,880, 752

52,414

246, 575

39,738

1,133
1,802
354
4,453
3,683
2,102

486,009

13,527

64
199
26
3
16

80

18,694
222,801
26,073
142,635

4
877
18

Portland
Los Angeles
Oakland
San Francisco...
Ogden
Salt Lake City..

169
877

1
275

50
2,751
641
5,626
1,232
3,079
1,292
1,917
1,880
288
8,067
299
1,293
6,917
5,266
6,482
2,968
3,637
15,351
3,138
5,877
229

148
4
5
1
1
8
287

44,611
32,790
58,772
4,476
43,985
30,943
13,836
104,706
15,020
76,512
97,882
62,126
7,974
20,387
4,182
10,172
73,968
9,768
167,958
11,184
50,368
5,357
12,816
16,370
4,128
70,773
7,461
6,791
37,957
60,975
64,865
16,194
50,784
218,233
17,621
292,383
4,242
16,877

18,069
28,476
11,373
3,310
11,861
47,983
9,787
38, 763
9,193
34,925
54,908
25,250
8,434
504
6,444
6,640
6,351
4,129
60,299
4,004
10,976
1,882
528
5,344
2,005
46,453
1,666
2,259
10,781
17,747
30,933
14,024
48,237
205,842
2,840
377,553
1,150
7,019

600
12,460
3,535
3,500
380
65
1,235
206

1,300

~1,~666~
274
22
175
100
1,256
18
783
1,607
664

599
687
1,082
1,338
1,553
1,000
3,473
707
6,125
3,462
53
1,820
5
798
1,620
1,848
13,802
6
2,061
567
748
566
260
2,927
58
5,079
3,087
1,177
2,208
2,340
26,220
3,117
22,467
602

102
22
246
48
136
346
39
374
22
314
803
3,183
43
2,361
28
592
1,187
156
390
22
327
421
577
176
103
1,670
184
194
1,730
77
2,411
106
1,538
599
145
664
22
126

18,771
41,557
15,841
6,858
13,079
50,047
11,444
41,372
12,688
35,946
62,042
31,895
8,530
4,685
6,477
. 8,030
10,458
6,133
75,491
4,032
13,638
2,892
2,028
6,186
2,108
49,639
4,795
3,294
19,197
21,575
34,521
16,338
52,115
257,9486,102
451,950
1,774
7,145

2
4
6
23
3
37
27
1
406

282
166
43
738
151
940
6,164
64
2,825

6,464

1,495

41,276

3,663,950

1,834,891

124,262

252,627

12,217 2,243,997

6,464

2,118

88,555

6,276,878

2,090,747

143,110

514,609

38,657 2,787,123

5
735
41
549
7
342

40,963
38,628
19,097
228,419
29,767
145,114

82,077
17,198
30,092
199,365
14, 738
87,000

10
400

12,194
1