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ANNUAL REPORT OF THE

Comptroller of the Currency
DECEMBER 1,1930

UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON : 1931

For sale by the Superintendent <rf Documents, Washington, D. C,




Price $1.25 (cloth)




TKEASUBT DEPAKTMBNT

Document No. 3032
Comptroller of the Currency

CONTENTS
Submission of the report.
_.__,.__<_,__„_,
~_
1
Legislation recommended:
Amendments to national bank act
_, .
_ 1—11
Amendments to laws of the District of Columbia
__
11,12
Organization and liquidation of national banks, year ended October 31,
1930, and since establishment of system
________ 13, 14
Branches:
Statement relative to
14
Number and kind of branches on February 25, 1927, and number
and manner of acquisition of additional branches of national
banks by years to close of October 31, 1930
__
15
Number and kind of branches authorized and closed during year
ended October 31, 1930
....
15
Domestic branches of national banks—
Table showing, by States, number and manner of acquisition
of branches during year ended October 31, 1930
15, 16
Table showing, by States, number and class of branches closed
during year ended October 31, 1930
17
National banks in the trust field:
Statement relative to
19, 20
Fiduciary activities of, during year ended June 30, 1930, segregated
according to capital
21
Fiduciary activities of, during year ended June 30, 1930, segregated
according to population of places in which banks are located
22, 23
Fiduciary activities of, by Federal reserve districts, June 30, 1930
24
Fiduciary activities of branches, during year ended June 30, 1930,
segregated according to population of places in which branches are
located
_
__._ 25,26
National-bank failures:
Statement relative to
:
- _ 27-32
Financial operations of division of insolvent national banks from
September 30, 1929, to September 30, 1930
32, 33
Capital, date of appointment of receiver, and per cent of dividends
paid by insolvent national banks, the affairs of which were closed
during year ended October 31, 1930
33,34
Bank failures other than national, year ended June 30, 193035
National-bank circulation:
Statement relative to
35
Statement of capital stock of national banks, national-bank notes,
and Federal reserve bank notes outstanding, bonds on deposit, etc.,
July 1, 1930
35, 36
Bond transactions relative to, year ended October 31, 1930
36, 37
Redemption of national and Federal reserve bank circulation, year ended
June 30, 1930
37
National banks of issue
37, 38
Condition of national banks at date of each call during year ended October
31, 1930
38,39
Principal items of resources and liabilities of national banks, September 24,
1930
„
40,41
National-bank liabilities on account of bills payable and rediscounts at
date of each call during year ended October 31, 1930
42
Loans and discounts of national banks:
Classification of, June 29, 1929, and June 30, 1930
._-43
Classification of, by reserve cities and States, June 30, 1930_44-47
Comparative statement of, for the last three fiscal years, in central
reserve and other reserve cities, all reserve cities, and elsewhere
48




m

IV

CONTENTS

Comparative changes in demand and time deposits, loans and discounts,
United States Government and other bonds and securities owned, and
the amount of reserve of national banks with Federal reserve banks
since June 30, 1926
United States Government securities owned by national banks June 30,
1930:
Classification of, by reserve cities and States
Investments of national banks:
Comparison of, June 29, 1929, and June 30, 1930
United States Government, domestic, and foreign bonds, securities, etc.,
owned by national banks June 30, 1930:
Classification of, by reserve cities and States
Per capita demand and time and savings deposits in all reporting banks
June 30, 1930:
Statement, by States, showing approximate population, demand and
time deposits, per capita demand and time deposits, savings deposits, and per capita savings deposits
Savings deposits and depositors in all reporting banks, according to class
of banks, June 30, 1930, by States
Earnings, expenses, and dividends of national banks:
Comparison of, years ended June 30, 1929 and 1930
Abstract of reports of—
By reserve cities and States, year ended June 30, 1930
By Federal reserve districts, year ended June 30, 1930
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 1930
Number of national banks, capital, surplus, net addition to profits, dividends, and percentage ratios, years ended June 30, 1914 to 1930__
National banks classified according to capital stock, December 31, 1929:
Number, loans and discounts, bonds and securities owned, aggregate
resources, capital, surplus and undivided profits, and total deposits
of
National bank examiners, list of, November 1, 1930
Convictions of national-bank officers and others for violations of the national banking laws during year ended October 31, 1930, list of
Federal reserve banks:
Assets and liabilities of the 12 Federal reserve banks combined, as of
the last weekly statement date in October, 1921 to 1930
Principal assets and liabilities of the 12 Federal reserve banks combined, on the last weekly statement date in each month, from January 1926, to October, 1930
Percentage of bills discounted secured by United States Government
obligations to total bills discounted and purchased by Federal reserve banks at end of each month, year ended October 31, 1930
Federal reserve bank discount rates in effect November 1, 1930, date
established, and previous rate with respect to all classes and
maturities of eligible paper
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, August, September, and
October, 1930
Rates for money in New York:
Range of, monthly, year ended October 31, 1930
Comparison of range of, annually from January, 1921, to October,
1930
New York clearing house:
Statement relative to transactions of, year ended September 30, 1930_
Clearing-house associations in the 12 Federal reserve bank cities and elsewhere :
Statement relative to transactions of, year ended September 30,1930__




Page

48
49, 50
51
52-55

56, 57
58-63
64
65-74
75, 76
77
77
77,78
78-83
83-88
89
90
91
91
91, 92
93
94
95
95

CONTENTS

V

Banks other than national, June 30, 1930:
Page
List of officials of State banking departments and number of each class
of banks under their supervision from which reports of condition
were received
_>
95-97
State (commercial) banks—
Summary of resources and liabilities of, and comparison with
June 29, 1929
98,99
Loan and trust companies—•
Summary of resources and liabilities of, and comparison with
June 29, 1929
100,101
Principal items of resources and liabilities of, in June of each
year, 1914 to 1930
...
__.
102
Stock savings banks—
Summary of resources and liabilities of, and comparison with June
29, 1929
102-104
Mutual savings banks—
Summary of resources and liabilities of, and comparison with
June 29, 1929
104-106
Number of mutual and stock savings banks, number of savings depositors, savings deposits, and average deposit account, by States,
June 30, 1929 and 1930
. . 106-108
Number of savings banks (mutual and stock), number of savings depositors, amount of savings deposits, and average amount due
each depositor, June 30, 1914 to 1930
109
Private banks—
Summary of resources and liabilities of, and comparison with
June 29, 1929
109-111
All reporting banks other than national—
Summary of resources and liabilities of, and comparison with
June 29, 1929
111-113
Resources and liabilities of each class of
114
Resources and liabilities of, June 30, 1926 to 1930
115
National banks, June 30, 1930:
Summary of resources and liabilities of, and comparison with June
29, 1929
115-117
Resources and liabilities of, June 30, 1926 to 1930
118
Banks, all reporting, June 30, 1930:
Summary of resources and liabilities of, and comparison with June
29, 1929
119-121
Abstract of resources and liabilities of, by States
122-129w
Demand and time deposits in, classification of
130
Resources and liabilities of, June 30, 1926 to 1930
131
Principal items of resources and liabilities of, in the continental
United States, as compared with similar data for member banks of
the Federal reserve system
132
Banks in District of Columbia:
Number, capital, demand and time deposits, and total resources of,
June 30, 1930
132
Earnings, expenses, and dividends of, other than national, 6-month
periods ended December 31, 1929, and June 30, 1930, and comparison of, in years ended June 30, 1930 and 1929
132, 133
Building and loan associations in the District of Columbia—
Number of, loans, installments on shares, and aggregate resources, years ended June 30, 1909 to 1930
133, 134
Building and loan associations in the United States:
Statistics relative to, by States, year ended 1929
134, 135
Mortgage loan investments held by, in 1928 and 1929, by States____ 136
Failures of, each year 1920 to 1929
136
Money in the United States:
Stock of, years ended June 30, 1914 to 1930
-.
137
Circulation statement of United States money, June 30, 1930
138
Imports and exports of merchandise, gold, and silver, calendar years
1914 to 1929, and from January 1 to September 30, 1930..139
Monetary stock of principal countries of the world:
Statistics relative to, at end of calendar years 1928 and 1929
140-147
Federal land banks, condition of, September 30, 1930
--- 148, 149
Joint-stock land banks, condition of, September 30, 1930
.
149-151



VI

CONTENTS

Page
Federal intermediate credit banks, condition of, September 30, 1930
151, 152
National agricultural credit corporations
._.,..
152
United States postal savings system:
Statistics relative to activities of, years ended June 30,1929 and 1930- 153-157
School savings banking:
Statistics relative to, in each State, in school years 1928-29 and
1929-30, and summary each year since 1919
158, 159
Savings banks in principal countries of the world:
Statistics relative to, as of various dates
159, 160
Resources of leading foreign banks of issue:
Statistics relative to, on or about June 30, 1930
161
Expenses of the Currency Bureau:
Summary of, in the fiscal year ended June 30, 1930___
162

APPENDIX
Page

Digest of decisions relating to national banks
165-243
EXHIBIT A: Decision of United States Circuit Court of Appeals in Port
Newark National Bank receivership case, ousting court
receiver and restoring receiver appointed by the Comptroller of the Currency
245-247
TABLES

No. 1. Comptrollers and Deputy Comptrollers of the Currency
248
No. 2. Names and compensation of officers and clerks in the Office of the
Comptroller of the Currency, October 31, 1930
248-250
No. 3. Number of national banks organized since February 25, 1863,
number passed out of the system, and number in existence
October 31, 1930
250
No. 4. Authorized capital stock of national banks on the 1st day of each
month from January, 1926, to November 1, 1930, bonds on
deposit to secure circulation, circulation secured by bonds, lawful money on deposit to redeem circulation, and national-bank
notes outstanding
_ _ _:
251
No. 5. National banks reported in liquidation from November 1,1929, to
October 31, 1930, the names (where known) of succeeding banks
in cases of succession, with date of liquidation and capital. _ 252-258
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,
1930, as shown by their last reports prior to consolidation. _ 259-264
No. 7. National banks consolidated under act of November 7, 1918, their
capital, surplus, undivided profits, and aggregate resources,
year ended October 31, 1930
265, 266
No. 8. State banks and national banks consolidated under act of February 25, 1927, their consolidated capital, surplus, undivided
profits, and aggregate resources, year ended October 31,1930_ 267, 268
No. 9. Number and capital of State banks converted into national banking associations in each State and Territory from 1863 to October 31, 1930
269
No. 10. Conversions of State banks and primary organizations as national
banks from March 14, 1900, to October 31, 1930
269
No. 11. Number of national banks increasing their capital, together with
the amount of increase monthly for years ended October 31,
since 1925
270
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 yearly increase or decrease. -___270
No. 13. Total number of national banks organized, consolidated under act
of November 7, 1918, insolvent, in voluntary liquidation, and
in existence on October 31, 1930.
271
No. 14. Changes of corporate title of national banks, year ended October
31, 1930
272,273




CONTENTS

VII
Page

No. 15. Changes of corporate title incident to consolidations of national
banks, and of State banks with national banks, year ended
October 31, 1930
.
273-275
No. 16. National banks chartered during year ended October 31, 1930__ 275-277
No. 17. National banks chartered which are conversions of State banks
during year ended October 31, 1930
278
No. 18. National banks, by States and geographical divisions, organized,
failed, and reported in voluntary liquidation during year ended
October 31, 1930
279
No. 19. Number and classification of national banks chartered monthly
during year ended October 31, 1930
1 280
No. 20. Principal items of resources and liabilities of national banks
classified according to capital stock, December 31, 1929
280-288
No. 21. United States bonds on deposit to secure circulating notes of
national banks in years ended October 31, 1900 to 1930
289
No. 22. Profit on national-bank circulation, based upon deposit of
$100,000 United States consols of 1930, etc., at the average
net price, monthly, during year ended October 31, 1930 __!._ 290
No. 23. Investment value of United States bonds—Panama Canal bonds
and2'sof 1930
291
No. 24. United States bonds (circulation)—monthly range of prices in
New York, November, 1929, to October, 1930, inclusive
291
No. 25. Number, capital stock, and circulation outstanding of national
banks issuing circulating notes, together with number and
capital stock of national banks not issuing circulating notes,
June 30, 1930, by reserve cities and States
292, 293
No. 26. National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 31, each year, 1920 to
1930.
294,295
No. 27. National-bank currency issued to banks monthly from November
1, 1929, to October 31, 1930, and since 1863
_ 296
No. 28. National-bank notes received monthly for redemption during
year ended October 31, 1930
296
No. 29. National-bank notes received at currency bureau and destroyed
yearly since establishment of system
297
No. 30. National-bank notes issued and destroyed, etc., account of
active, insolvent, and liquidated banks, years ended October
31, 1914 to 1930
297
No. 31. Amount, denomination, and cost of national-bank currency
received from Bureau of Engraving and Printing, year ended
October 31, 1930
298
No. 32. Vault account of currency received and issued by currency bureau
during year and amount on hand October 31, 1930
„ 298
No. 33. Vault account of currency received and destroyed during year
ended October 31, 1930___,
298
No. 34. Amount of currency received for redemption, by months, from
July 1, 1929, to June 30, 1930, and counted into the cash of the
National Bank Redemption Agency
299
No. 35. Amount of currency received by National Bank Redemption
Agency for redemption in year ended June 30, 1930, from principal cities
299
No. 36. Cost of redemption of national-bank notes during year ended June
30, 1930
299
No. 37. Classification of Federal reserve currency redemptions, amount
redeemed, number of notes, cost of redemption per 1,000 notes,
and amount assessed upon Federal reserve banks, year ended
June 30, 1930
300
No. 38. Taxes assessed on national-bank circulation, years ended June 30,
1864 to 1930; cost of redemption, 1874 to 1930, and assessments for cost of plates, etc., 1883 to 1930
301
No. 39. Federal reserve notes outstanding according to weekly statements
(amount issued by Federal reserve agents to Federal reserve
banks, less "unfit" notes redeemed), and collateral security
therefor, from November 6, 1929 to October 29, 1930..
302



VIII

CONTENTS
Page

No. 40. Federal reserve notes, segregated by series, printed, shipped and
canceled, issued to banks, retired, and destroyed since organization of the banks, with balance in vaults and amount outstanding October 31, 1930
303-305
No. 41. Aggregate amount of Federal reserve bank notes printed, issued,
canceled, and redeemed, by denominations, since inauguration
of the Federal reserve system, and amount on hand and outstanding October 31, 1930
305
No. 42. Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates, years ended June 30, 1915 to 1930
306
No. 43. National banks in charge of receivers during year ended October
31, 1930, capital at date of organization and at date of failure,
causes of failure, dividends paid while solvent, and circulation
outstanding, etc
307-321
No. 44. National banks in charge of receivers, dates of organization, appointment of receivers, and closing, with amounts of nominal
and additional assets, amounts collected from all sources, loans
paid, losses on assets, expenses of receiverships, claims proved,
etc., to October 31, 1930
322-353
No. 45. National banks restored to solvency after having been placed in
charge of receivers
354, 355
No. 46. Dividends paid to creditors of insolvent national banks during
year ended October 31, 1930
355-360
No. 47. Dates of reports of condition of national banks from 1914 to 1930_ 360
No. 48. Condition of foreign branches of National City Bank and Chase
National Bank, of New York, N. Y., and First National Bank
of Boston, Mass., on June 30, 1930
_ _ 361-366
No. 49. Number, capital stock paid in, circulation outstanding, and aggregate resources of national banks at date of each report from
February 21, 1921, to September 24, 1930, money in the United
States, June 30, each year, etc
367
No. 50. Abstract of reports of condition of national banks in the central
reserve cities of New York and Chicago, in other reserve cities,
and elsewhere, September 24, 1930
368
No. 51. Abstract of reports of condition of national banks in central
reserve and other reserve cities and country banks at date of
each call during year ended October 31, 1930
369-372
No. 52. Classification of amounts "due from" and "due to" banks reported by national banks, according to reserve cities and States,
at date of each call during year ended October 31, 1930_____ 373-389
No. 53. Classification of demand and time deposits in national banks,
according to reserve cities and States, at date of each call during
year ended October 31, 1930
390-405
No. 54. Classification of bills payable and rediscounts of national banks,
according to reserve cities and States, at date of each call during
year ended October 31, 1930
406-415
No. 55. Classification of cash in vaults of national banks, according to
reserve cities and States, at date of each call during year ended
October 31, 1930
416-419
No. 56. Gold and silver coin, certificates, legal tenders, and other currency
held by national banks at date of each call from February 21,
1921, to September 24, 1930
420
No. 57. Gold, etc., held by national banks in the central reserve city of
New York at date of each call from February 21, 1921, to September 24, 1930
421
No. 58. Reserve computation of national banks according to reserve
cities and States, at date of each call during year ended October
31, 1930
422-437
No. 59. Abstract of reports of condition of national banks, at date of each
call from February, 1920, to October, 1930
438-448
No. 60. Abstract of reports of condition of national banks, according to
reserve cities and States, at date of each call during year ended
October 31, 1930
449-565
No. 61. Abstract of reports of condition of national banks in each Federal
reserve district at date of each call during year ended October
31, 1930
566-573



CONTENTS

IX
Pago

No. 62. Loans and discounts of national banks, according to reserve cities
and States, December 31, 1929, March 27 and September 24,
1930
574-585
No. 63. United States Government securities owned by national banks,
according to reserve cities and States, December 31, 1929,
March 27 and September 24, 1930
586-591
No. 64. Classification of investments of national banks, according to reserve
cities and States, December 31, 1929, March 27 and September
24, 1930
592-603
No. 65. Principal items of resources and liabilities of national banks
according to counties in each State, by Federal reserve districts,
March 27, 1930
605-671
No. 66. Abstract of reports of earnings, expenses, and dividends of
national banks, according to reserve cities and States, for the
six months ended December 31, 1929
672-681
No. 67. Abstract of reports of earnings, expenses, and dividends of national
banks, by Federal reserve districts, for the six months ended
December 31, 1929
682, 683
No. 68. Abstract of reports of earnings, expenses, and dividends of national banks, according to reserve cities and States, for the six
months ended June 30, 1930
684-694
No. 69. Abstract of reports of earnings, expenses, and dividends of national banks, by Federal reserve districts, for the six months
ended June 30, 1930
695,696
No. 70. Abstract of reports of savings and State banks in the District of
Columbia at date of each call during year ended October 31,
1930
697
No. 71. Abstract of reports of loan and trust companies in the District of
Columbia at date of each call during year ended October 31,
1930
698
No. 72. Principal items of resources and liabilities of each savings and
State bank in the District of Columbia, September 24, 1930. 699, 700
No. 73. Principal items of resources and liabilities of each loan and trust
company in the District of Columbia, September 24, 1930
701
No. 74. Principal items of resources and liabilities of savings and State
banks in the District of Columbia on or about October 1, 1914
to 1930
702
No. 75. Principal items of resources and liabilities of loan and trust companies in the District of Columbia on or about October 1, 1914
to 1930
702
No. 76. Individual statements of resources and liabilities of the 24 building and loan associations in the District of Columbia, June 30,
1930
703,704
No. 77. Summary of resources and liabilities, receipts, and disbursements
of building and loan associations in the District of Columbia
for the six months ended December 31, 1929
...
705
No. 78. Summary of resources and liabilities, receipts, and disbursements
of building and loan associations in the District of Columbia
for the six months ended June 30, 1930
.
706
No. 79. Abstract, by States, of resources and liabilities of State (commercial) banks June 30, 1930
707-715
No. 80. Abstract, by States, of resources and liabilities of loan and trust
companies June 30, 1930
_„
716-723
No. 81. Abstract, by States, of resources and liabilities of stock savings
banks June 30, 1930
724-727
No. 82. Abstract, by States, of resources and liabilities of mutual savings
banks June 30, 1930
728-731
No. 83. Abstract, by States, of resources and liabilities of private banks
June 30, 1930
732-735
No. 84. Abstract, by States, of resources and liabilities of all reporting
banks other than national June 30, 1930
736-743
No. 85. Abstract, by States, of resources and liabilities of national banks
June 30, 1930
744-751
No. 86. Aggregate resources and liabilities of State (commercial) banks,
June, 1926 to 1930
_
...
. 752



X

CONTENTS
Page

No. 87. Aggregate resources and liabilities of loan and trust companies,
June, 1926 to 1930
752, 753
No. 88. Aggregate resources and liabilities of stock savings banks, June,
1926 to 1930
753
No. 89. Aggregate resources and liabilities of mutual savings banks,
June, 1926 to 1930__.__ — _ _ _ . . .
754
No. 90. Aggregate resources and liabilities of private banks, June, 1926
to 1930_
754, 755
No. 91. Gold, silver, etc., held by banks other than national, June, 1914
to 1930
755
No. 92. Statement of resources and liabilities of the chartered banks of
Canada, September 30, 1930
756
No. 93. Summary of the principal items of resources and liabilities of
the chartered banks of Canada, monthly, year ended September 30, 1930
756
No. 94. Comparative statement of the transactions of the New York
Clearing House in each year ended September 30, 1854 to
1930
757, 758
No. 95. Comparative statement of the clearings, etc., of the New York
Clearing House, years ended September 30, 1930 and 1929. _ 758
No. 96. Exchanges, balances, percentages of balances to exchanges, and
percentages of funds used in settlement of balances by the
New York Clearing House in each year ended September 30,
1893 to 1930
758, 759
No. 97. Comparative statement of exchanges of clearing houses of the
United States, years ended September 30, 1930 and 1929-_ 759, 762
No. 98. 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, 1930 and 1929
763
No. 99. Number and liabilities of State, private, and national banks
which failed in each State during the six months ended December 31, 1929
764, 765
No. 100. Number and liabilities of State, private, and national banks
which failed in each State during the six months ended June
30, 1930
766,767
No. 101. Number and liabilities of State, private, and national banks
which failed in each State during the year ended June 30,
1930
768, 769
No. 102. Number and liabilities of State, private, and national banks
which failed in years ended June 30, 1914 to 1930
770
TABLE H. Statements of resources and liabilities of the individual national banks (States, Territories, and towns arranged alphabetically) at close of business December 31, 1930. (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 lf 1980,

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, 1930. This is the sixty-eighth report
made to the Congress since the organization of the bureau,
LEGISLATION RECOMMENDED

Amendments to the national bank act
Since the publication of my 1929 annual report the subject of
branch, group, and chain banking has received considerable attention.
Bankers and their associations, both national and State, the press,
and the public generally have evidenced an interest in the subject
to a greater degree than ever before. This interest has been due
largely to the increasing number of country bank failures and the
changing conditions which have brought hitherto isolated rural districts into closer touch with the commercial centers. These developments were also important factors in prompting my suggestions to
the Seventy-first Congress that section 5155 of the Revised Statutes
of the United States be amended to permit national banks, with the
approval of the Comptroller of the Currency, to establish branches
within the regional trade areas of the commercial centers in which
they operate.
At the last session of Congress the Banking and Currency Committee of the. House of Representatives, under authority of House
Resolution 141, conducted extended hearings on the subject of branch,
group, and chain banking. During the course of these hearings
there appeared before the committee a number of prominent Government officials, bankers, and others, representing unit as well as the
different forms of so-called multiple banking in many sections of the
country. They testified from experience in their respective spheres,
and through their testimony the committee was placed in possession
of a fund of first hand and valuable information. At this date the
committee has not rendered its report. Nothing, however, materialized during these hearings nor has anything arisen since to justify
any change in my attitude. Developments of the last year have,
on the contrary, strengthened my belief that the type of branch




2

"REPORT OF THE COMPTROLLER OF THE CURRENCY

banking put forward by me is sound and that such an amendment
to the law should be enacted.
Failures have not abated. During the fiscal year ended June 30,
1930, there were 640 failures, 82 of which were national banks and
558 State banks, as compared to a total of 549 failures during the
fiscal year ended June 30, 1929, comprising 69 national banks and 480
State banks.
An analysis of the bank failures for the current year shows that
the trend toward the gradual elimination of small country banks in
the agricultural sections, which has been prevalent during the past
decade, is still very pronounced.
Nearly 96 per cent of these failures occurred in the agricultural
States of the South, Middle West, and West, while in the more densely
populated industrial areas of New England and the Eastern and Pacific
Coast States, where a greater diversification of business is possible,
the number of failures has been negligible.
In only one section of the country (the Western States) did the
total number of bank failures for the fiscal year 1930 fall below that
of the preceding fiscal year. In that section 163 banks failed during
the fiscal year 1930 as compared to 183 during 1929. This exception
was, however, due solely to the situation in Nebraska, where, following the collapse of the guaranty of deposits law, 106 State banks
closed their doors during the fiscal year of 1929, while only 50 failed
during the comparable period of 1930.
Illinois, a State wherein antibranch-banking sentiment is quite
pronounced, suffered a striking increase in bank failures during the
past year. During the fiscal year 1929 only 8 State banks and
1 national bank in Illinois closed their doors, while in 1930 no less
than 42 State-chartered institutions and 11 national associations, a
total of 53, were placed in receivership.
Other States contributing largely to the increase in bank failures
during the last fiscal year were Alabama, with only 5 failures in 1929
and 25 in 1930; Oklahoma, also with 5 failures in 1929 and 26 in 1930;
and Missouri, with 19 failures in 1929 compared to 50 in 1930. In
each of these States, following the general trend for the entire country,
the great bulk of the failures was made up of banks with limited capital,
located in communities of the type which, in my opinion, can be
adequately served only by branches of the larger banks in the nearest
large commercial centers.
Since I have discussed the subject of bank failures at some length
in previous public utterances and in my annual report to Congress
for 1929, I shall ask your further indulgence on this occasion merely
to point out that the failure of about 5,600 banks in the past 10 years,
tying up deposits of nearly $2,000,000,000, constitutes one of the
main factors responsible for the crystallization of a strong sentiment
in favor of some change in our banking structure which will bring
to our rural districts, where more than four-fifths of these failures
have occurred, the benefits and protection of the strong well-managed
banks now operating in our commercial centers. It should not be
overlooked that those who have suffered most in these failures were
persons of small means—country business men, farmers, and savings
depositors in farming communities. That remedial legislation along
this line is of great present importance is strikingly emphasized by
the latest figures available, which show that up to October 31 of this




REPORT OF THE COMPTROLLER OF THE CURRENCY

3

year no less than 742 banks, with deposits of about $300,000,000,
have closed their doors, as compared to a total of 522 suspensions,
with deposits of $200,000,000, during the same period last year.
In the absence of legislation permitting the extension of branch
banking facilities to these rural communities, a type of multiple
banking called group banking, practically unknown at the time of
the enactment of the McFadden bill, has been evolved. That the
development of group banking has been remarkably rapid during the
past two years is attested by the fact that on June 30, 1930, there
were in existence in this country 289 group and chain banking organizations, controlling 2,144 banks, with loans and investments of approximately $12,000,000,000, or nearly 21 per cent of the total loans
and investments of all the banks in the country.
In not a few instances a highly constructive service has been rendered by group systems in taking over smaller banks which have
found themselves in a position where they could no longer function
profitably or safely under the conditions with which they were confronted. However, it is a rather significant fact that both group and
chain banking have had their greatest development in the States
where branch banking is prohibited. A recent survey discloses that
in the 9 States and the District of Columbia, wherein state-wide
branch banking is permitted, there were 86 banks in group and chain
systems and 847 branches located outside of the head office cities,
besides 461 branches located in head office cities. In the 22 States
in which state-wide branch banking is prohibited, however, there
were 1,242 banks in group and chain systems. In these 22 States
there were 25 branches located outside of the head office cities and
27 in head office cities, all of which were established prior to prohibitory legislation.
A highly important advantage possessed by branch banking over
group banking is the adaptability of the former system for extension
into the most remote hamlets, while, generally speaking, group banking facilities are enjoyed only by those communities which are able
to support a well-managed independent bank. My observation ha3
been that group banking, instead of alleviating the rural banking
situation, has as a rule taken over only the stronger local banks in
prosperous communities, leaving the weaker institutions struggling
for a meager existence. Failures of these weaker banks have left
many communities wholly without local banking facilities, which,
however, could readily be supplied by branches of the larger city
banks, with but a minimum of overhead expense to the latter
institutions.
It does not seem desirable to give sufficiently broad branch banking
powers to national banks to enable them to embrace in a single branch
system the entire geographical area now embraced by several of the
larger group bank systems. Group banking in the main is in capable
hands, and includes some of the best-managed banks in the country.
However, the field of group banking is now open to every type of
operator or promoter who may be able to purchase bank stocks.
This constitutes a source of potential danger. In order to facilitate
the supervision of group banking, in those cases where the Federal
Government has any responsibility, it is my view that no national
bank should be permitted to become a constituent of such a group,
except upon the condition that all other banks in the group are also




4

REPORT OF THE COMPTROLLER OF THE CURRENCY

national banks. The Comptroller of the Currency under these conditions could more effectively examine and supervise the entire group
operations. It is therefore my view that group banking should be
brought under the visitorial powers of the Federal Government in
those cases where membership in the group is composed in whole or
in part of national or State member banks of the Federal reserve
system. Legislation along these lines seems to^be necessary in the
public interest.
With reference to my recommendation that national banks situated
in important commercial cities be permitted to extend branch banking
facilities into the trade area of such cities, it has been suggested that
any such national legislation would give to national banks an advantage over State chartered institutions in those cities, the trade areas
of which embrace territory in more than one State. There are many
such cities in the United States. The proposal has, therefore, been
made that national banks be given only those branch banking powers
which the State legislatures can give to State banks. Such a procedure would seem to be an abdication of a national branch banking
policy in favor of the policies of the various States and is open to two
serious objections, one economic and the other constitutional.
The theory of trade area branch banking rests upon economic
grounds. Its aim is to permit strong city banks to carry their banking facilities to the community surrounding such city to a distance
which is governed by the predominant flow of business and trade to
and from the city as a trade center. It is designed to give to the
rural communities, which have for years been suffering from a lack
of safe and adequate banking facilities, the high type of banking and
the security from bank failures which residents of the large cities have
generally enjoyed. If Congress therefore adopts the policy of withholding from national banks the power to cross State lines with
branches in those cases where the trade area of the city clearly does
cross the State line, the whole theory and plan of establishing in the
rural communities a well-rounded and sound branch banking system
is broken down.
The State policy theory is objectionable upon the constitutional
ground that Congress alone is responsible for the establishment and
maintenance of the system of national banks as an instrumentality
of the Federal Government. These banks were established purely in
the exercise of the legislative power of Congress and solely upon a
national policy. It gave to the United States a uniform system of
banking beyond the control of the States.
It is not a valid objection to the national legislation here proposed
that Congress would be conferring upon national banks banking
powers more extensive than those which lay within the power of the
State legislatures to give to State banks. For many years we have
witnessed what may be regarded as the reverse of this situation.
While Congress has at all times had the constitutional power to give
to the national banks charter advantages which could not be acquired
by State banks, it has nevertheless been extremely reluctant to exercise this power, although to do so in the manner herein recommended
would strengthen our whole banking structure. On the other hand,
however, State legislatures have conferred upon State chartered institutions, particularly upon trust companies, banking powers which
national banks did not at the time enjoy. As a consequence, the




REPORT OF THE COMPTROLLER OF THE CURRENCY

5

national banking system has within recent years declined in size,
importance, and influence and has become thereby relatively less
effective as an instrumentality of the Federal Government. Through
the diversion of commercial banking from the national to the various
State banking systems, Congress has lost control over the major portion of the commercial banking resources in the United States.
Upon the enactment of the McFadden bill the conversion into
national banks of several larger State branch banking institutions
and the consolidation of several State banks with national banks under
the national charter gave rise to the hope that the national banking
system would reclaim the most important banks which had left it
to operate under State charters. However, this hope was short
lived, for there soon followed through State legislative or State judicial
action new advantages for State banks, particularly with respect to
the operation of the trust business and desertions from the national
charter in favor of those offered by the States began to increase.
That the disparity between the two systems of banks is pronounced
is evidenced by the fact that whereas in 1886 the national banks held
75 per cent of the total commercial banking resources of the country,
the latest compiled figures indicate that this proportion has now
shrunk to less than 40 per cent.
Any advantage therefore which might accrue to the national
banking system through trade-area branch banking around those
cities situated near State boundary lines could fittingly be taken by
Congress as an opportunity to strengthen its control over a nationwide system of commercial banking such as was established under the
original national bank act.
In view of the foregoing considerations, it is recommended that the
act of February 25, 1927, otherwise known as the McFadden Act,
be amended to incorporate the following banking policy:
(1) That a committee composed of the Secretary of the Treasury,
the Governor of the Federal Reserve Board, and the Comptroller of
the Currency be authorized to select the various cities which are
commercial centers in the United States and to map out their trade
areas.
(2) That the term "trade area" be defined to embrace the regional
flow of business and trade to and from such cities and that State
boundary lines be not considered in determining the territorial limits
thereof.
(3) That national banks situated in such cities be permitted, with
the approval of the Comptroller of the Currency, to establish branches
within the limits of such regional trade areas.
(4) That the paid-in capital stock of such a national bank shall be
not less than $1,000,000 and that the ratio of capital and surplus to
deposits shall be maintained at not less than 1 to 10. The
Comptroller of the Currency would in his discretion require a larger
capitalization.
(5) That the national bank consolidation act be amended so as to
permit any banks situated within the trade area to consolidate, with
the approval of the Comptroller of the Currency, under the national
charter, but the Comptroller of the Currency should be specifically
empowered to disapprove any such consolidation upon the ground
that it might result in an undue concentration of banking capital
within the trade area.




6

REPORT OF THE COMPTROLLER OF THE CURRENCY

(6) That there be conferred upon the Comptroller of the Currency
such visitorial powers as may enable him to examine into the affairs
of any corporation which owns or controls the majority of the stock
of any national bank.
(7) That no corporation be permitted to own the majority of the
stock of any national bank if it at the same time owns the majority
of the stock of a State bank.
(8) That no national bank be permitted to make a loan upon the
security of the stock of a corporation which may own the majority
of the stock of such national bank.
During the past 12 months I have discussed at length the question
of the trade area as the logical basis for the development of branch
banking in the rural communities. Particularly at my appearance
before the House Committee on Banking and Currency last spring
detailed consideration was given to many aspects of the trade area
in connection with the question of the extension of the branch banking
powers of the national banks. It may be desirable at this time to
summarize these discussions.
In defining the trade area it is essential that we keep in mind the
chief purpose of proposed amendments to the national bank act with
respect to the establishment of branches. It is not the primary consideration that the large city bank should be placed in a position
further to develop its business with attendant greater profits and
wider influence notwithstanding this would and should follow, as a
matter of course, through the extension of branches to the rural sections tributary to the city in which it is located. The primary
purpose is the strengthening of rural banking itself through the
influence of strongly capitalized and well-managed city banks of
which the rural bank might become an integral part. It is, therefore,
necessary to consider the trade-are a question from the point of view
of the rural-bank situation rather than from that of the city bank.
The difficulty in defining a trade area in the abstract is well recognized. The subject has been studied by experts in many phases.
The country has been laid out into trade areas from the standpoint
of the manufacturers of nationally advertised commodities, the
manufacturers of more localized products, wholesale distributors,
retailers and newspaper circulation. The present problem deals
with a different type of trade area—one which requires that the
viewpoint be taken from the rim of the area rather than from the hub.
The aim is the establishment in the rural communities of a sound
system of banking which will give to the country depositor a reasonable assurance of safety and will offer to those requiring banking accommodation more adequate facilities than is at present available
to them. Those requirements can be met only through the establishment of branches by city banks into the surrounding communities which have access to such a city as their principal market and
financial center. It is this surrounding area which I have termed the
regional trade area. It is the zone of the city's predominant economic
influence in the sense that in that zone the city is both the trade and
credit center.
There can be no formula which would determine in advance the
exact size of any such trade area, but as has been frequently pointed
out there is one economic principle of fundamental and controlling
significance. Every city which may be selected as the center of a




REPORT OF THE COMPTROLLER OF THE CURRENCY

7

trade area must be of such importance as a trade center for the surrounding geographical territory as to draw to it a volume and a
diversity of trade sufficient to form the potential basis for a wellbalanced branch banking system. This is what I have termed the
requirement for economic diversification. By this it is meant that
the loans made by the bank to its customers in the trade area must
rest upon the security of a wide range of business enterprises and
industrial pursuits. The bank should be able to draw its business
from the production of natural resources, agriculture, livestock, manufacturing, transportation by land and water, distribution, and communication. In each of these activities there would be further
subdivisions of diversification as, for example, the production of natural resources would include the various types of mining, oil, gas,
timber, hydroelectric power and so on. The essential weakness of
rural banking as we now have it lies in the danger of its complete
dependence upon just one such economic activity. By virtue of
the small geographical area of its operations its loans rest principally
upon one type of security. There is an insufficient economic diversification of its loan portfolio. This objective can be attained in a
branch system of banking which taps a number of different types of
security.
It has been suggested that proper diversification can be obtained
through the purchase of investment securities on the general market.
This procedure faces two obstacles. It presupposes a technical equipment which the rural bank does not possess and it would draw the
funds of the bank in too great a proportion away from the local field
of the bank's operations to the detriment of its legitimate borrowers.
In some sections of the country where industrial activity is concentrated and where the population is dense there are offered a number
of different economic pursuits of relative independence, the one of the
other. In such a case the physical extent of the trade area of a commercial center may be small as compared with another city in the
more sparsely settled sections of the country where a greater territory
may have to be embraced in order to gain the required diversification.
Every city indeed, no matter how small, has a regional or local trade
area but every such trade area would not be a suitable field for branch
banking. Under the plan herein recommended it would be necessary
for the committee proceeding under a general authority from Congress
to select those cities the trade areas of which meet the requirements
for economic diversification. In this respect the committee would be
dealing with an economic situation very much similar to that presented to the committee which under similar authority laid out the
Federal reserve districts. The Federal reserve districts vary in size
according to the density of population and the physical concentration of commercial and business activity.
It will be recalled that Congress designated the Secretary of the
Treasury, the Secretary of Agriculture, and the Comptroller of the
Currency as a committee to lay out the Federal reserve districts
under instructions to have "due regard to the convenience and
customary course of business and shall not necessarily be coterminous
with any State or States. The districts thus created may be
readjusted and new districts may from time to time be created by
the Federal Reserve Board, not to exceed twelve in all." This committee experienced no great difficulty in carrying out these instruc-


22439°—31
2


8

REPORT OF THE COMPTROLLER OF THE CURRENCY

tions of Congress, There appears no reason to doubt the ability of a
similar committee, such as I have recommended, to map out the
trade areas aroimd the principal cities in the United States.
These trade areas might be termed regional economic or trade
zones to distinguish them from the wider geographical area with which
the business enterprises of such city have contact. Banks and
business generally in every large city may from time to time have
trade relations and business transactions extending to every part of
the country and indeed over the whole world. In contrast to this
wider field there is an immediate geographical territory surrounding
every large city and reaching out into the outlying rural communities,
a definite area which can be determined by boundary lines embracing
a population having customary access to such a city as the principal
market.
Such a trade area might in some cases overlap an adjacent trade
area of another commercial center. If upon a determination of fact
it be found that the business of a given community flows in substantial
volume to more than one city as a financial and business center, it
might be found desirable to put such a community in more than one
trade area. It would seem sound to permit the establishment of
branches to follow the natural flow of regional commerce and trade*
and cases of such overlapping would simply mean that a few communities might have branches emanating from more than one trade
area center.
As contrasted with the proposal for county-wide branch banking,
trade-area branch banking would follow economic rather than political
boundary lines. County-wide branch banking could never form a
sound economic basis for a national policy in banking. The county
seat is often not the most important city in the county and in many
cases it is more convenient for trade to flow to an adjoining county.
In a few cases it might be found that the county seat is in fact an
important center of trade but in such cases it will ordinarily have a
stronger trade influence in the adjoining counties than any city
situated within them. County-wide branch banking would force
banking into artificial channels and would be economically unsound
in those cases where the parent bank was of insufficient size to offer
adequate banking facilities and safety to depositors or was situated
in a county which did not permit of a diversification in the banking
business available to it.
There seems, therefore, no escape from the conclusion that rural
branch banking, in order to offer an improvement over the present
system of rural banking, must proceed from a parent bank situated
in a city of sufficient economic importance to sustain, by virtue of
the commerce and trade within it and its surrounding economic
zone, a well-managed bank of not less than $1,000,000 capital.
The suggestion for State-wide branch banking appears also economically unsound as the basis for a national policy. In many States
there may be found cities whose regional trade areas are embraced
within the boundary lines of the State. On the other hand, however, there will be found a great number of important cities situated
in such close proximity to State boundary lines that a prohibition
against crossing the State line would result in a one-sided branchbanking system for the banks in such a city. The trade area here
under discussion ia a geographical area for banking purposes. It




REPORT OF THE COMPTROLLER OF THE CURRENCY

9

has no direct political significance. Business and industry pay no
heed to State lines in the use of banking facilities. The normal
business of a bank in a city situated near the boundary line of more
than one State flows over such lines in response to the impulse of
convenient communication and transportation. Depositors and
borrowers in one State have no prejudices in crossing over the State
lines to gain access to their bank. To deny such a bank, under
these circumstances, the power to establish branches to meet the
convenience of its customers across State lines while at the same
time permitting it to establish branches in another direction into the
territory of an entire State—in many cases extending far beyond its
normal trade area—would set up a system of branch banking under
national authority which would appear unworkable and indefensible.
In the consideration of the type or size of a city which would be
chosen as the center of a trade area adequate for branch banking
purposes, regard must be had for the general banking situation
in any given community. If the city be important enough to have
strong, successful national banks and is surrounded by a community
haying a number of country banks whose principal bank correspondent
is in such a city, that city might be made the center of a regional
trade area. In many such cases the geographical area involved
might be not only less than that of a Federal reserve district but less
in area than the State in which the city is situated. There may be
found a sufficient economic justification for several trade areas
whose principal territory is within a single State. Having regard
for the situation that branch banking by national banks began with
the branch banking limited to the city in which the bank is situated,
it would seem the logical economic development to permit a natural
growth of these branch-banking systems into the territory where
their influence in banking is predominant rather than to proceed
solely from the greatest metropolitan centers of the country, which
would give to relatively a few great metropolitan banks the exclusive
privilege of branch banking in the country districts and lesser cities.
It would be highly desirable to preserve as much as possible the
element of local autonomy in the establishment of trade areas provided the areas are not so small as to sacrifice the principle of economic
diversification.
It is not meant to imply that trade area branch banking should be
confined to those States in which branch banking by national banks
is now permitted within the city limits. The new policy of branch
banking should be uniform in its operation throughout the nation,
thereby giving to every rural community an opportunity of access to
strong city banking facilities under national supervision and control.
It may, therefore, be said that the following elements contribute to
the definition of trade area branch banking:
(1) The principal objective is to strengthen banking operations in
the rural communities.
(2) A secondary but not less positive result would be a strengthening of the entire banking structure of the country.
(3) The surrounding geographical territory economically tributary
to a city and for which such city provides the chief market and financial center, may be described as its trade area.
(4) Every city may be said to have a trade area but not every trade
area is suitable for branch banking purposes.




10

REPORT OF THE COMPTROLLER. OF THE CURRENCY

(5) In order to lay the basis for a sound system of branch banking
a trade area should embrace within its physical limits a diversification
of economic activities in order that a bank operating branches throughout its extent may also acquire a diversification in the security for its
loans.
(6) For branch banking purposes, therefore, only those trade areas
should be chosen which surround cities important enough to be the
commercial center of a territory sufficient to meet the requirement of
economic diversification.
(7) Since the trade area under discussion is a regional economic
area for banking purposes the status of the banks in a given city will
furnish a guide to its character and extent, particularly the number
and location of the surrounding country banks for which they are the
principal bank correspondents.
(8) It would not be a difficult undertaking for a committee composed of the Secretary of the Treasury, the Governor of the Federal
Keserve Board and the Comptroller of the Currency to select the principal commercial centers in the United States for branch banking
purposes.
(9) Upon the selection of such a city the determination of the
boundary limits of its trade area would be a question of fact and
could easily be discovered through a study of its banking operations
and its general trade influence and position.
Small country banks need have no fear that they would be driven
out of business through the establishment in their communities of
de novo branches by city banks. Such a procedure would be highly
abnormal and it is inconceivable to me that any Comptroller of the
Currency would lend his office to its support. The natural development of rural branch banking would occur through the consolidation
with or purchase of country banks by the city branch banking institutions upon such terms as would be agreeable to each. The conversion of the local bank into a branch of the city bank in this manner
would have no disturbing effect upon the local banking situation.
The type of branch banking here recommended would, as compared with the present system of unit banking, lead to a decentralization of banking resources. Within each trade area there would be a
concentration of local or regional banking capital and the best interests
of the branch banking systems would compel the employment of such
capital in the various communities throughout the trade area. The
present tendency under our system of a large number of very small
banks and a small number of very large and strong banks is for the
bulk of the banking resources of the country to be concentrated in a
few great metropolitan centers. Under trade area branch banking
there would undoubtedly arise in the inland commercial centers
regional banks of sufficient strength to hold the banking business
originating within their trade areas.

The enactment of legislation vesting authority in the Comptroller
of the Currency to examine security or investment companies affiliated
with national banking associations is recommended. These companies are generally so closely allied with the national association that
it is not always possible to ascertain the true condition of the national
association without knowing the exact condition of its affiliate.



REPORT OP THE COMPTROLLER OF THE CURRENCY

H

The following recommendations which were contained in my
annual report to the Seventy-first Congress are renewed:
(1) That the law be so amended as to provide that the exercise
of fiduciary powers shall be'one of the corporate powers of a national
banking association subject to the existing limitations in regard
to the State law, etc., now contained in paragraph (k) of section 11
of the Federal reserve act.
(2) To give the comptroller supervision over national banking
associations going into voluntary liquidation. Under the present law
the comptroller's authority is limited to the appointment of a
receiver, provided a bank in liquidation should prove to be insolvent.
Reports of the liquidating agent are not required under the law,
although they are frequently furnished voluntarily. At present the
liquidation of a national bank may be carried on for a period of time
and the bank may later prove to be insolvent, necessitating the
appointment of a receiver. Creditors whose claims have been settled
prior to such appointment may thus obtain preference over other
creditors. As a remedy for this condition it is proposed that the
activities of the liquidating agent of a national bank be conducted
under the supervision of the comptroller and that he be required to
give bond and to render reports in the same manner as is required of a
receiver until the affairs of a liquidating bank are finally closed.
(3) That a law be enacted making it a criminal offense to maliciously
or with intent to deceive, make, publish, or circulate any false report
concerning any national bank or any other member of the Federal
reserve system which imputes insolvency or unsound financial condition, or which may tend to cause a general withdrawal of deposits
from such bank or may otherwise injure the business or good will of
such bank. A bill, satisfactory to the Treasury Department, was
reported by the Banking and Currency Committee of the House of
Representatives at the last session of Congress, but failed of passage.
The following recommendations with respect to the laws of the
District of Columbia are renewed:
(1) Giving the comptroller the right and power to make regulations governing savings banks or trust companies doing a banking
business in the District of Columbia with a penal provision for the
enforcement of such regulation, the regulations to be limited so that
they shall not in any case place restrictions upon such banks which
are not placed upon national banks.
(2) Prohibiting the use of the word^bank" or the words "trust
company" by any firm, copartnership, company, or corporation
doing business in the District of Columbia and not doing a banking or
fiduciary business under the supervision of the Comptroller of the
Currency and providing, in the event such title shall be used by a
firm, copartnership, company, or corporation doing a banking or
fiduciary business, it shall be subject to the approval of the Comptroller of the Currency.
(3) The corporations with their principal place of business outside
of the District of Columbia may not establish offices in the District
of Columbia and do a fiduciary business therein without the permission of the Comptroller of the Currency and without complying
with the general conditions of the corporation laws of the District
which have been enacted for the protection of those who do business
with corporations with their principal place of business in the District.




12

REPORT OF THE COMPTROLLER OF THE CURRENCY

(4) While the building and loan associations in the District of
Columbia are examined and supervised by the Comptroller of the
Currency, there is no provision of law which prohibits any building
and loan association from organizing and doing business in the
District of Columbia regardless of its merits. I recommend that a
law be passed which would prohibit any building and loan association
from doing business in the District of Columbia or maintaining an
office in the District of Columbia without first securing the approval
of the Comptroller of the Currency, and that any violation of thia
provision shall constitute a penal offense and be punishable in the
same manner as now provided by the act of April 26, 1922, entitled
"An act regulating corporations doing a banking business in the
District of Columbia,"




BEPOBT OF THE COMPTROLLER OF THE CURRENCY

13

ORGANIZATION AND LIQUIDATION OF NATIONAL BANKS

At the close of the current year, October 31, 1930, there were 7,218
national banking associations in existence. This represents a net
loss since October 31, 1929, of 288 banks, or 3.99 per cent. However, the last call for reports of condition, as of September 24, 1930,
showed an increase in aggregate resources of $454,373,000, or about
1.63 per cent, during this period.
Up to and including October 31, 1930, there have been authorized
to begin business 13,498 national banking associations, of which
4,939 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 the
liquidation of banks through receivership was 1,341, the number of
these receiverships being a fraction more than 9.93 per cent of the
total number of banks organized.
During the year ended October 31, 1930, 263 national banks, with
total capitalization of $39,230,400, went into voluntary liquidation,
of which number 3, with capital of $202,500 and resources of $413,494,
quit business; 112, with capital of $12,405,000, were acquired by
other national banks; while 148, with capital of $26,622,900 and resources of $321,034,972, entered the State banking systems. This
last-named group included 16 banks of $500,000 capital or over, with
aggregate capital of $14,650,000 and assets of $165,441,412.
November, 1914, marked the inauguration of the operation of the
Federal reserve system. On that date there were in existence 7,578
national banks with aggregate capital of $1,072,492,175, as compared with a total capitalization of $1,748,495,629 for the 7,218
national banks in operation on October 31, 1930—a net decrease of
360 in the number of banks, but an increase in capitalization of
$676,003,454. During the 16-year period 2,846 national banks were
chartered, with aggregate capital of $366,870,300, while 3,206 such
associations were closed voluntarily or otherwise.
During the year ended October 31, 1930, 168 applications to organize national banks and to convert State banks into national banking
associations were received, with proposed capital stock of $18,595,000.
Of these applications 103 were approved, with proposed capital stock
of $9,505,000,49 were rejected, with proposed capital stock of $6,145,000, and 31 were abandoned, with proposed capital stock of $8,865,000.
In this same period 108 national banking associations, with capital
of $12,240,000, were authorized to begin business, 4 of which were
located in the New England States, 15 in the Eastern States, 20 in
the Southern States, 24 in the Middle Western States, 39 in the
Western States, and 6 in the Pacific States. The greatest activity,
as indicated by the number of national banks organized, was evidenced in the following States.' Nebraska 20, New York 8, Texas 8,
Minnesota 8, South Dakota 8, Pennsylvania 7, Illinois 7, North
Dakota 5, Massachusetts 4, Iowa 4, and Washington 4. In other
States the number ranged from 1 to 3 banks.
It further appears that of the total number of charters issued, 31,
with authorized capital of $3,040,000 and resources aggregating approximately $31,138,465, were the result of conversions of State



14

REPORT OF THE COMPTROLLER OF THE CURRENCY

banks, 9, with capital of $700,000, were reorganizations of State
banks, and 68, with capital of $8,500,000, were primary organizations. The business of 40 State banks, with capital of $1,817,750
and assets aggregating approximately $28,734,391, was purchased by
national banks.
During the year ended October 31, 1930, 90 national banking associations were consolidated into 45, under authority of the act of
November 7, 1918, the capital of the consolidated banks being $103,462,300. In some instances there were reductions in capital and in
others increases, the net result by reason of consolidations being an
increase in capital stock of $75,868,500. During the same period
there were 40 consolidations under the act of February 25, 1927,
involving the consolidation of 44 State banks with national banks,
the aggregate capital of the State institutions amounting to $71,765,850. Through these mergers five additional branches and total
assets of approximately $1,085,124,244 were brought into the national
system.
The net result of the changes above mentioned was a decrease for
the year in the number of existing banks of 288 and an increase in
the authorized capital stock of $62,243,964. It appears that during
the year 225 banks increased their capital in the aggregate sum oi
$99,414,364. Of this number, 68 banks effected the increase by stock
dividends, the amount of such increase being $6,085,130.
BRANCHES

On February 25, 1927, the date of the passage of the so-called
McFadden bill, there were in existence in the national system 372
branches, as compared with a total of 1,086 branches in operation
on October 31, 1930.
During the intervening period 965 branches have been added to
the system, of which total 405 were de novo branches, 307 were
branches of State banks which converted into national associations,
and 253 were brought into the national system through consolidations of State with National banks, while 251 branches were relinquished, of which number 138 went out of the system through the
voluntary liquidation of the parent institutions and the remainder,
113, were discontinued through consolidations and for various other
reasons. The net result of these operations was a gain for the
national system of 714 branches for the period under discussion.
During the year ended October 31, 1930, a net gain of 25 branches
was recorded, 86 de novo branches being established, while 1 branch
was added under the provisions of paragraph 2 of section 5155,
United States Revised Statutes, as amended February 25, 1927, and
5 branches were brought into the system through the consolidation of State banks with National banks—a total of 92 branches.
Sixty-seven branches were lost to the national system, 32 through
voluntary liquidation and 35 through action of the directors and
shareholders.




15

REPORT OF THE COMPTROLLER OF THE CURRENCY

There follows a summary of branch banking operations in the
national system during the periods discussed in the foregoing:
Table showing number and kind of branches on February 25, 1927, and number and
manner of acquisition of additional branches of national banks by years to close of
October 81, 1980
Authorized

Closed

Conver- Consolisions of dations of Local
city
State
State
banks branches
banks
On Feb. 25, 1927_._
Period ended Oct. 31,1927
Year ended Oct. 31,1928
Year ended Oct. 31,1929
Year ended Oct. 31,1930

existVolun- Lapsed Inence
tary
or conliquida- solidated
tions

Total

104
62
82
5

207
127
103
89
86

372
527
173
173
92

20
86
32

60
18
35

372
G99
992
1,061
1,086

472

Total

165
296
8
2
1

253

612

1,337

138

113

1,086

Table showing number and kind of branches authorized and closed during the year
ended October 81, 1980

Classes

Author- Closed
ized
In
exist- during
year
ence ended
Feb.
Oct.
Oct.
25,1927 31,1929 31,1930 Shareholders
In
operation

fa

165

Statutory^"
Additional offices, c branches
Millspaw Act
O branches

372

92

Total
in
existVolun- ence
Oct.
Direc- Lapsed tary
tors
liqui- 31,1930
dation

1
15

86

1,061

202
5

Total

1
5

427
243
142
5
244

during the year ended
Oct. 31, 1930

2
6
13

17

11

425
227
127
5
302

19 !

32

1,086

2

16

Table showing number and manner of acquisition of domestic branches of national
banks during the year ended October 81, 1980
Branches authorized during
the year ended Oct. 31,
1930

Charter
No.

By conversion
or by
Under
Total
consoliact Feb. dation
number
25, 1927
under
act Feb.
25, 1927

Title and location

CALIFORNIA
10412
5927
7632

First National Bank in Glendale
Citizens National Trust & Savings Bank of Los Angeles
United States National Bank of Los Angeles..

10316

Federal-American National Bank & Trust Co. of Washington

1559
6045
9617
13068

First National Bank of Atlanta
.
Fourth National Bank of Atlanta . . .
Fulton National Bank of Atlanta
Citizens & Southern National Bank, Savannah

_.

1
2
1

1
2
1

DISTRICT OF COLUMBIA
2

2

4

GEORGIA

. .
...

1
1 :
1 !
1

1
1
1
1

KENTUCKY

 National Bank of Louisville
109 First


.

2

2

16

REPORT OF THE COMPTROLLER OF THE

CURRENCY

Table showing number and manner of acquisition of domestic branches of national
banks during the year ended October 81, 1930—Continued
Branches authorized during
the year ended Oct. 31,
Charter
No.

By conversion
or by
Under consoli- Total
act Feb. dation number
25, 1927 under
act Feb.
25,1927

Title and location

MASSACHUSETTS

200
643
13391
7595

First National Bank of Boston
Atlantic National Bank of Boston
Old Colony National Bank of Boston
Worcester County National Bank of Worcester..
MICHIGAN

8703
3513

National Bank of Commerce of DetroitCity National Bank of Lansing. _-.____.

3404

Citizens National Bank of Newport

1436

National State Bank of Elizabeth

NEW HAMPSHIRE

NEW JERSEY

...

NEW YORK

13193
13292
2370
13207
12892
1461
13295

Bank of America National Association, New York..
Brooklyn National Bank of New York
Chase National Bank of the City of New York
Industrial National Bank of New York
Lafayette National Bank of Brooklyn in New York..
National City Bank of New York
Sterling National Bank & Trust Co. of New York—.

1
24
L
2
12
1

OHIO

4318
7621
2604

Central United National Bank of Cleveland
City National Bank & Trust Co. of Columbus
Winters National Bank & Trust Co. of Dayton

_..

PENNSYLVANIA

1
723
13180
3604

First National Bank of Philadelphia
Central-Penn National Bank of Philadelphia
City National Bank & Trust Co. of Philadelphia
Commercial National Bank <e Trust Co. of Philadelphia..
f
SOUTH CAROLINA

4996

Central National Bank of Spartanburg

7848

Hamilton National Bank of Chattanooga

6032
9885

Norfolk National Bank of Commerce <c Trusts, Norfolk..
f
Virginia National Bank of Norfolk

TENNESSEE

VIRGINIA

Total (35 banks)..




86

92

17

REPORT OF THE COMPTROLLER OP THE CURRENCY

Table showing number and class of domestic branches of national banks closed during
the year ended October 81, 1980
Branches closed
State
bank
branches
in operation
Additional Branches Feb. 25, Total
1927,
authorwhich
which
ized
were conbecame
since
branches Feb. 25, verted
or conFeb. 25,
1927
solidated
1927
Branches under
act of Feb. 25, 1927

Charter
No.

12464

Manner of closing

Title and location

Pacific National Bank of Los Voluntary liquidation.
Angeles.
MARYLAND

1413
2499
1337

First National Bank of Baltimore. Board of directors. _
Drovers & Mechanics National Voluntary liquidation ,
Bank of Baltimore.
do
Farmers & Merchants National
Bank of Baltimore.
MICHIGAN

8703

National Bank of Commerce of
Detroit.

Shareholders and
board of directors.

23

N E W JERSEY
1209
11744
374
9912

First Camden National Bank & Shareholders
Trust Co.
Peoples National Bank of Eliza- Voluntary liquidation.
beth.
First National Bank of Jersey City. Board of directors..
do
New Jersey National Bank &
Trust Co. of Newark.
N E W YORK

12337
11747
12874
2370
13122
1461
1308

Genesee National Bank of BuffaloAmerican National Bank & Trust
Co. of Mount Vernon.
Central National Bank of the City
of New York.
Chase National Bank of the City
of New York.
Guardian National Bank of New
York.
National City Bank of New York..
Utica National Bank & Trust Co..

Voluntary liquidation
do
..do..
Board of directors
Voluntary liquidation.
Board of directors
Voluntary liquidation

OHIO
7621
2874

City National Bank & Trust Co. Board of directors
of Columbus.
City National Bank & Trust Co. Voluntary liquidation.
of Dayton.
SOUTH CAROLINA

1621

Peoples-First National Bank of .....do
Charleston.
Total (19 banks)




_.

.

.-...
28

24

67

REPORT OF THE COMPTROLLER OF THE CURRENCY

19

NATIONAL BANKS IN THE TRUST FIELD

The national banks in 1930 continued to show steady and substantial progress in the development of trust activities. Two thousand
four hundred and seventy-two banks, with capital, surplus, and
undivided profits aggregating $3,123,303,341, and banking resources
totaling $23,529,097,073, had authority to administer trusts on
June 30, 1930, which represented 34 per cent of the number of banks
and 80 per cent of the total banking resources of the 7,252 national
banks in operation on that date. Of the number authorized to exercise trust powers under section 11 (k) of the Federal reserve act,
1,829 banks had established trust departments and were administering 79,912 individual trusts with assets aggregating $4,473,040,926,
and in addition were administering 11,511 corporate trusts and acting
as trustees for outstanding note and bond issues aggregating
$11,803,717,370. For the fiscal year ended June 30, 1930, trust department gross earnings aggregating $22,765,000 were reported.
Compared with 1929, these figures reflect a net increase during
the year of 30 in number of national banks having authority to exercise trust powers; an increase of 95, or 5 per cent, in the number
administering trusts; an increase of 15,435, or 20 per cent, in the
number of trusts being administered; an increase of $235,392,000, or
5}& per cent, in the volume of individual trust assets; an increase of
$4,433,000,000, or 60 per cent, in the volume of trusteeships under
bond issues, while the gross earnings from trust department operations increased $2,182,000, or 11 per cent, over the previous year.
The rapid strides which national banks have made in the trust
field are emphasized by considering the activities during the past
year with those of 1926. Compared with that year, these figures
represent an increase during the 4-year period of 446, or 22 per cent,
in the number of national banks authorized to exercise trust powers;
an increase of 725, or 66 per cent, in the number of banks actively
administering trusts; an increase of 65,370, or 250 per cent, in the
number of trusts being administered; an increase of $3,550,000,000,
or 385 per cent, in the volume of individual trust assets under administration; an increase of $9,340,000,000, or 379 per cent, in the volume
of bond issues outstanding for which national banks are acting as
trustees, while the gross earnings for the same period increased
$14,510,000, or 176 per cent.
The increasing interest in the creation of insurance trusts is evidenced by the fact that 153 national banks were acting as trustees
under 396 agreements involving the administration of $13,495,009
in proceeds from insurance policies, while 680 national banks had
been named trustees under 13,543 insurance trust agreements
not operative supported by insurance policies with a face value
aggregating $586,706,435. Compared with 1929, the insurance
trust figures represent an increase of 30 per cent in the number of
national banks administering insurance trusts, an increase of 46 per
cent in the number and 19 per cent in the volume of insurance trust
assets under administration.
The number of banks which had been named trustees under
insurance trust agreements not operative increased during the
year 22 per cent, the number of insurance trust agreements not yet
operative naming national banks trustees increased 42 per cent, while



20

REPORT OF THE COMPTROLLER OF THE CURRENCY

the volume of insurance represented by the face value of the policies
trusteed under those agreements increased 56 per cent over 1929.
Branches of national banks numbering 187 were actively engaged
in the administration of 15,092 trusts, with individual trust assets
aggregating $1,340,564,760, and were acting as trustees for bond and
note issues outstanding amounting to $3,151,175,430.
The following tables show in detail the activities of national banks
in the trust field, segregated, first, according to the capital of the
bank; second, according to the population of the place in which the
bank is located; third, according to Federal reserve districts, with a supplemental table showing the extent to which the branches of national
banks are furnishing trust service to the communities in which they
are operating.




Fiduciary activities of national banks during year ended June SO, 1980, segregated according to capital
Banks
Banks with capiwith
tal over
capital
of $25,000 $25,000 to
$50,000
Number of national banks with trust powers but not administering trusts.
Number of national banks with trust powers administering trusts
.
Total number of national banks authorized to exercise fiduciary powers

Banks with
capital over
$50,000 to
$100,000

Banks with
capital over
$100,000 to
$200,000

Banks with
capital over
$200,000 to
$500,000

139
118
257

240
445

124
571
695

61
411

73

TRUST ASSETS

Investments
Deposits in savings banks.
Deposits in other banks._.
Deposits in own bank
Other assets
_.
TotalPrivate trusts.
Court trusts.._
TotalTotal volume of bond issues outstanding for which banks are acting as trustees...
Number of national banks administering individual trusts
Number of national banks administering corporate trusts
Number of individual trusts being administered
Number of corporate trusts being administered
_
Total number of trusts being administered
_
Average volume of individual trust assets in each bank
Average volume of trust assets in each individual trust
Number of national banks administering insurance trusts
Number of insurance trusts being administered
.
Average volume of insurance trust assets in each bank
Average volume of insurance trust assets in each trust
_
Number of national banks holding insurance trust agreements not operative
Number of insurance trust agreements not operative
_
Face value of policies held under above agreements
_
Average number of insurance trust agreements not operative held by each
bank.
Average volume of insurance policies held by each bank under trust agreements
not operative
_
Average volume of insurance policies per trust held under agreements not
operative
_
Average gross earnings per trust for fiscal year ended June 30,1930
Average gross earnings per trust department reporting trust earnings for fiscal
year ended June 30,1930




$204,893 $3,635,419
26,401
31,297
8,467
282
690,540
81,305
425,545
45,949
363,726 4,786,372
125,155
238,571
363,726

144,900
28
1
67
2
69
$12,990
$5,429
1
1

$38,451, 053 $140,177,694 $392,944,957
2,088,351
1,554,710
875,392
1,699,268
719,764
69,418
13, 604,557
7,401,292
3,639,149
33,740,452
8,140, 552
4,008,124
47,043,136 157,994,012 444,077,585

2,182,684
2,603,688
4,786,372

20,781,094
26, 262,042
47,043,136

80,252,496
77,741,516
157,994,012

2,063,617
104
22
602
56
658
$46,022
$7,950

29,015,800
404
113
4,471
534
5,005
$116,443
$10,521
8
11
$30,816
$22,411
67
617
$4,813,943

5
17
$475,235
3

$374

37
253
290

Total

643
1,829

O

2,472

%

$3,130,517,155 $3,705,931,171
4,117,281
8,693,432
13,348,151
15,845,350
128,099, 225
153,516,068
542,694, 283
589,054,905
3,818,776,095 4,473,040,926
2,996,174,066
822,602,029
3,818,776,095

66,897,040
530
209
12,346
1,171
13, 517
$298,102
$12, 795
23
28
$35, 543
$29,196
175
814

$28,368

$114

472

Banks with
capital over
$500,000

$95,047
$27,955
$90
$761

294,898,778
149,178,807
444,077,585

3,394,414,273
1,078,626,653
4,473,040,926

$7,802
$75
$1,145

W
a
c
g
o

o

a
d

$26, 951,997

o

4
$71,850

o

$154,011
$33,111
$71
$2,012

$359,062

$862,803

$37,717
$122

$47,610
$351

$43,322
$248

$5,687

$79,559

$14,839

Fiduciary activities of national banks during year ended June SO,1930, segregated according to population of places in which banks are located to
to
Places
with popnl Atl on

less than
1,000

Number of national banks
with trust powers but not
administering trusts
..
Number of national banks
with trust powers administering trusts
Total number of national
banks authorized to
exercise fiduciary
powers—

1,000 t o
2,499

2,500 to
4,999

5,000 to
9,999

10,000 to
24,999

25,000 to
49,999

50,000 to
99,999

100,000 t o
249,999

250,000 t o
499,999

500,000 to
999,999

1,000,000 or

over

Tota

52

113

113

119

114

38

27

27

13

13

14

643

47

134

251

306

429

223

156

120

66

41

56

1,829

99

247

364

425

543

261

183

147

79

54

70

2,472

Q
O

g

TRUST ASSETS

Investments
>
.
Deposits in savings banks
Deposits in other banks.
Deposits in own bank. _.
Other assets
Total

H
O

1, 722, 632 11, 380, 692 40, 557,965 64, 766, 679 165, 600,361 206,107,061 310,190, 825 586, 504,650 516,702,186 724,588,074 1,844,919,801 4,473,040,926

.

$1, 322, 049 $9,113, 542 $33, 771,149 $55, 917, 536 $149, 374,222 $184, 708, 990 $278,937,396 $511,611,109 $422, 294,491 $554, 226, 661 $1. 504, 654,026 $3,705,931,171
938, 742
57, 573
124, 233 1,080,088
8,693,432
563, 812
4,969
1, 221,235
475,304
2,826, 546
530,821
870,109
11, 715
1,036, 685
286,093
57, 503
267,032
113, 269
9, 264,050
15,845,350
821,495
619, 521
552,544
2,815,443
182, 994 1,015,424 2,100, 701 3, 598, 900
7,004, 709
89,543, 600
153,516,068
9,883,345
6,646,601
9,277,719 13, 522, 532 10, 739, 543
240,982,818
589,054,905
200,905 1,136, 650 4, 294, 850 4,056, 886
7,321, 618 13,168,527 20,284,106 57,924, 942 82, 584, 787 157,098,816

O

LIABILITIES

Private trusts
Court trusts
Total

5

..

Total volume of bond issues
outstanding for which banks
are acting as trustees..
Number of national banks administering individual trusts.
Number of national banks administering corporate trusts..
Number of individual trusts
being administered.
Number of corporate trusts 1
being administered,.
Total number of trusts being
administered,—
«



1,303,115 4, 594, 246 19, 005, 663 29, 980,824 92,417,412 147,061,801 184,575,716 417,893,136 449, 763, 576 644,959,226 1,402,859,558 3,394,414,273
442,060,243 1,078,626,653
419, 517 6, 786,446 21, 552, 302 34, 785,855 • 73,182,949 59,045,260 125, 615,109 168, 611, 514 66,938, 610 79, 628,848
1, 722, 632 11, 380, 692 40, 557, 965 64, 766,679 165, 600, 361 206,107, 061 310,190,825 586, 504, 650 516, 702,186 724,588,074 1,844,919,801 4,473,040, 926

128, 200 4,694, 612 17,194, 345 27,423,842
47

121

223

9

26

386
9
395

78, 502, 543

85, 933, 617 176, 280, 330 188, 451, 534 320, 519,329 950, 292,303 9,954,296,715 11,803,717,370

285

404

209

140

118

63

39

52

1,701

75

107

167

102

80

85

49

32

37

769

1,702

4, 213

5,918

11,068

6,438

7,805

11,824

6,320

7,824

16,414

79,912

115

590

407

759

m

1,058

1,078

1,379

1,481

3,947

11,511

1,817

4,803

6,325

11,827

7,126

8,863

12,902

7,699

9 s 306

20,361

91,423

H

W

O

Average volume of individual
trust assets in each bank
Average volume of trust assets
in each individual trust
Number of national banks administering insurance trustsNumber of insurance trusts
being administered
Average volume of insurance
trust assets in each bank
Average volume of insurance
trust assets in each trust
Number of national banks
holding insurance trust agreements not operative
Number of insurance trust
agreements not operative
Face value of insurance policies held under above agreements
._Average number of insurance
trust agreements not operative held by each bank
Average volume of insurance
policies held by each bank
under trust agreements not
operative
_
Average volume of insurance
policies per trust held under
agreements not operative
Average gross earnings per
trust for fiscal year ended
June 30,1930.
Average gross earnings per
trust department reporting
trust earnings for fiscal year
ended June 30, 1930




$30,651

$94, 055

$409, 902

$10,944

$14,962

$32, 014

$39,743

11

19

18

21

11

11

39

24

35

$30,873

$15,189

$42, 542

$45,81:

$105,961

$25, 260

2

$227,252

9

2

$181,874
$9, 627

$4,462

$15,189

$20, 726

$34, 359

$G3, 576

$986,158 $2, 215, 649 $4, 970, 37S $8, 201, 622 $18, 579,181

13

39

72

139

111

296

319

1.053

930

$2,629,654

$92,611

$112,399

$55,975

19

13

13

153

35

70

100

396

$50, 633:

$63,830

$254,868

$242,072

$88,203

$21, 394

$34, 651

$47,333

$31,469

$34,078

71

93

32

$35,479,227

$81,757

$49,603

1,619

47

29

43

680

1,975

2,218

2,605

13, 543

$71,091,625 $102, 274, 267 $187, 847, 812

92

$586,706,435

o
%

2,494'
$20, 000

62, 324 $7, 315, 835 $7, 443, 481 $21,912,901 $33, 384, 051 $63, 019, 063
$91, 935,076
8

1

4

8

8

17

42

76

61

20

27
$10, 000

$35,563

$187, 586

$10,000

$14,448

$24, 716

$32

$52

$57

$749

$931

$1,399

$103, 382
$23, 334
$70

$1,875

$157,647

$300, 757

$20,810

$35, 897

$95

$111

$3,206

$677, 624
$999, 294
$38, 925
$36,863
$142
$173

$3, 912

$8, 929

$19, 212

$1, 512, 588 $3, 526, e

$862,803

$4, 368, 554

o
o

S

3
pa
o

i

$35,996

$46, 111
$72,110

$219

$314
$581

$28,109

$76,971

$223,. 339J

$43, 322
$243

$14, 839
O

Fiduciary activities of national banks by Federal reserve districts as of June 80, 1980
Num- Total
ber numNum- with ber
auber
banks au- thorFederal reserve dis- exer- thor- ized
ity
to
tricts
cising but
fidu- not exerciary exer- cise
powers cising fiduciary
powers powers
Boston. «*'**». .
New Y6rk__*.
Philadelphia*.
Cleveland
Richmond....
Atlanta*.-*...
Chicago..
St. Louis..***..
Minneapolis..
Kansas City..
Dallas
San Francisco.

179
298
258
136
145
99
2S2
102
54
112

Total...

1,820




61
73
38
26
37
49
104
49
68
85
32
21

Capital, surplus, and Total bankundivided ing resources
of banks
profits of
authorized
banks
to exercise
authorized
fiduciary
to exercise
powers
fiduciary
powers

Num- Num- Volume
NumNumber of ber of
ber of
ber of
assets
indicor- Bond issues banks insur- of insurvidual Assets of porate outstanding ad- ance ofance
trusts individual trusts where banks minis- trusts trusts
being
tering being under
being
trusts
act as
adinsur- ad- adminisadtrustee
minisance minisministered
trusts tered tration
tered

Number of
insurance
trust
agreements
not
operative

Face value
of insurance
policies
held
under
trust
agreements
not
operative

Trust de:
partment
gross
earnings
for fiscal
year
ended
June 30,
1930

41 $2, 010, 005
"- 2,307,525
2, 534,825
1, 213, 737
2S0,239
1,167,113
588,243
391,913
83,554
762, 444
675,960
1,479,451

[,605 5,042 $359,372,618
671 $640,814,340
240 $316,394, 400 $2,299,891,
572,159 11,858 1,067,919,572 3,030 8,794,478,931
371 1,144,176,388 7,991,""'
296 328,361, 555 1, 867,045,208 12,402 227,280,780
672 104,002,845
162 215,141, 385 1, 584, 662, 749 8,290 395,856,166
813 166,841,381
182 132,799, 788 936,904,106 4,063 222,314,473
87,107,878
389
148 127,835, 940 963,157, 725
150,456,020
584 132, 861,642
386 197,900, 738 1, 755, 815,19011,312 518,884, 307 1,842 961,441,817
161
54,717,100
639
69,620,920
84,909,185 705,267,181 2,281
122
46,897,742
157
17,436, 833
71,697, 092 702, 022,993 1,240
197
727
77,389,400
94, 583,079 1,039,448,643 6,033 326,100,372
100
71,048,635
959
249
72,730,122
97,396, 334 807,746,212
117 312,107,457 2,875,563,302 13,846 1,032,193,141 1,738 678,991,261

643 2,472 3,123, 303,341 23, 529,097,073 79,912 4, 473,040,926 11, 51111,803, 717,370

Number of
banks
holding
insurance
trust
agreements
not
operative

153

70 1,079 $53, 211, 087 $2,295,000
107 2,230 162, 733,507 8,959,000
98 1,201 55,357,398 1,099,000
70 1,369 69, 873,177 1,265,000
48
635 23,045, 579 738,000
40
955 37, 206, 674 563,000
90 1,299 45,207, 234 1,930,000
17
197 8,927,407 401,000
19
129 3,780, 378 188,000
38 1,429 35,814, 757 802,000
34
493 17, 950,482 297,000
49 2,527 73,598, 755 4,228,000

396 13,495, 009

680 13, 543 586, 706,435 22,765, 000

Fiduciary activities of national-bank branches with trust departments during year ended June 80, 1980, segregated according to population of
places in which branches are located
Places
with
population of
less than

1,000 t o
2,499

2,500 to
4,999

10,000 t o
24,999

5,000 t o
9,999

100,000 t o
249,999

50,000 t o
99,999

25,000 t o
49,999

250,000 t o
499,999

500,000 t o
999,999

1,000,000

Total

or over

g

1,000

Number of national-bank branches with
active trust departments

11

18

25

30

19

9

14

11

8

4

38

187

TRUST ASSETS

Investments
_
Deposits in savings banks
Deposits in other banks
Deposits in own bank.. . .
Other assets
Total

._

$295, 388 $2, 535, 226 $2,900,455 $7,466, 392 $7,285, 916 $16, 983, 321 $67, 391,148 $33, 210, 741 $34, 383, 609 $146,105,742 $947,534,554 $1,266,092,492
658, 231
67,308
342,906
44, 737
24,086
107,258
20,200
6,451
3,142
6.615
1
35,527
664,762
1,063
635,807
3,827
24,065
24,480,850
1,971,181 18,409, 566
980,863
716, 240 1,961, 927
285, 261
35,726
15, 378
36,133
68,575
48,668,425
832, 375 1,828,323 10, 255,431 28,983, 372
918, 600 2,005, 505
108,635
134,765
345, 699 3,118,440
137, 280
468,195 2, 662, 381 3,071, 354 7, 887, 281 10,446, 533 18,318, 505 70,401,602 34, 779, 556 38,222,423 158,400,725 995,906,205 1,340, 564, 760

O

LIABILITIES

Private trusts.
Court trusts
Total

_

_

Total volume of bond issues outstanding
for which branch banks are acting as
trustees
. .
Number of branches administering individual trusts ._
. «.»
Number of branches administering corporate trusts
.
Number of individual trusts being adNumber of corporate trusts being administered . . . - - _
Total number of trusts being administered.
Average volume of individual trust assets
in each branch.
Average volume of trust assets in each
individual trust .
. .
Number of branches administering insurance trusts
Number of insurance trusts being ad-




o
o

468,036 2, 612, 382 3,017, 602 7,694, 268 9,951, 290 14, 762, 803 39,472, 622 29,425, 286 27,642, 682 132, 528,274 754,126, 666 1, 021, 701,911
318,862,849
495, 243 3, 555, 702 30, 928,980 5,354, 270 10, 579, 741 25,872,451 241,779,539
53, 752
49,999
193,013
159

tr1

468,195 2, 662, 381 3,071,354 7,887, 281 10,446, 533 18, 318, 505 70,401, 602 34, 779, 556 38, 222,423 158,400, 725 995,906,205 1,340, 564, 760

18, 364, 710

8.024,739 33, 254, 731 250, 306, 951 2,841,137,699 3f 151f 175,430

550

83,400

10

22

29

16

9

12

11

8

4

19

2

2

1

1

1

8

6

6

3

12

42

12

43

100

2S9

267

349

1,404

1,250

553

2,080

6,457

12,804

12

17
60

2
102

1
290

1
268

5
354

82
1,486

64
1,314

171
724

76
2,156

1,869
8,326

2,288
15,092

$58, 524

$266, 238

$139, 607

$271,975

$652, 908 $2, 035, 3S9 $5, 8,66,800 $3,161,777 $4,777,803 $39,600,181 $52,416,116

$9,057,870

$39,016

$61, 916

$30,713

$27, 292

2,650

8

1

1
1

S

$52,489

$50,144

$27, $24

$69,118

2

5

1

$39,128

7

2

3

E

2

4

a

$104,699

$76,154

^154, 237

a

29

2

54

86

2

3

148

to

Fiduciary activities of national-bank branches with trust departments during year ended June 30, 1930, segregated according to population of
places in which branches are located-^-Continued
Places
with
population of
less than
1,000

1,000 to
2,499

2,500 to
4,999

10,000 to
24,999

5,000 to
9,999

25,000 to
49.999

50,000 to

100,000 to 250,000 to
249,999
499,999

500,000 to
999,999

1,000,000
or over

I

Tot*l

til
Average volume of insurance trust assets
in each branch
„
,_„„„„.
Average volume of insurance trust assets
in each trust.
__„,
,„_„„„,„.,.
Number of branches holding insurance
trust agreements not operative.. „
Number of insurance trust agreements
not operative.,. . „ „ , _ . , „ , „ , , _ . . , „ , , . „ .
Face value of insurance policies held under above agreements.,,,,,,-,
...
Average number of insurance trust agreements not operative held by each
branch
,.-,,„,.
-Average volume of insurance policies held
by each branch under trust agreements
not operative
_.
Average volume of insurance policies per
trust held under trust agreements not
operative..,
.Average gross earnings per trust for fiscal
year ended June 30,1930
—
Average gross trust earnings per branch,
reporting trust earnings for fiscal year
ended June 30,1930
,,.,-,.,




o
$5,000

$21,100

$39,728

$49,835

$26,323

$40,087

$9,837

$93,201

$21,255

$225,743

$88,670

$5,000

$21,100

$24,830

$21,358

$17, 548

$26,725

$9,837

$46,601

$21,255

$33,443

$29,900

5

15

14

22

14

13

9

7

4

17

126

13

37

36

82

90

145

153

303

298

855

2,080

$186, 579

$576,627

$610,403 $1,832,771 $2,325, 403 $1,725,938

2

3

$38, 442

$14,352
$317
$544

3
$37,316

$4,988,301

6

11

$45,743

$83,308 $166,100

$287,656

$15, 585

$17,789

$22,351

$25,838

$34,402

$130

$173

$108

$139

$291

$190

$598

$800

$1,115

$2,070

$11,441

$23,493

4

11
$383,715

$2,994,320 $11,377,033 $15,971,789

$55,564,489

$98,183,653

3
w
o
o

g

43

75

$332,702 $1,625,290

$3,992,947

$19,571

$37,548

$53,597

$64,988

$47,204

$150

$318

$266

$681

$474

$21,955

$28,750

$143, 425

$157, 443

$43,083

17

50
$3,268,499

$779,235

Hi

HI

a

REPORT OF THE COMPTROLLER OF THE CURRENCY

27

NATIONAL-BANK FAILURES

During the year ended October 31,1930, receivers were appointed for
.104 national banks. Of this number, 88 were actual failures, while 16
appointments of receivers were made in order to enforce stock assessments, the collection of which was necessary under contracts to
succeeding institutions which purchased the assets of the banks under
guarantees from stockholders, by which creditors were paid in full.
Of the 88 actual failures, 3 were restored to solvency, leaving 85 to be
liquidated by receivers. These figures for the year 1930 may be
compared with 72 actual failures for the previous year, 2 of which
were restored to solvency, with the appointment of receivers for 7
banks to enforce stock assessments. The capitalization of the 104
banks, for which receivers were appointed during the past year, was
$8,355,000, as compared with the capitalization of the 79 banks, for
which receivers were appointed during the previous year, of $6,575,000.
Total assets of the 104 banks for which receivers were appointed
during the past year, including additional assets acquired after suspension, as indicated by receivers' reports submitted, amounted to
$63,098,244, in addition to which stock assessments in the amount of
$6,760,000 had been levied by the comptroller as of October 31, 1930,
against the shareholders of these banks.
It is of interest to note an important decision handed down by the
United States Circuit Court of Appeals for the Third Circuit dealing
with the authority of the comptroller over the appointment of receivers for insolvent national banks.
The Port Newark National Bank of Newark, N. J., was in grave
financial difficulties. Arrangements had been made for the deposit
liability of this bank to be assumed by another institution, thus
assuring depositors of full payment of their deposits. On the day
prior to the contemplated consummation of these arrangements, a
stockholder filed a petition in the United States District Court for
the appointment of a receiver and obtained a rule to restrain the bank
from consummating the deal. The Comptroller of the Currency
appointed a receiver for the Port Newark National Bank the following
morning. Subsequently the District Court ousted the comptroller's
receiver and appointed a court receiver. The case was appealed by
the comptroller from the District Court to the Circuit Court of
Appeals, which remanded the case to the District Court with instructions that the receiver appointed by the court be discharged, first
accounting to the comptroller's receiver for his doings and restoring
to him possession of all of the bank's property; restoring the comptroller's receiver, dismissing the bill with costs against the complainant
in the bill.
The court, in speaking of the right of the comptroller to appoint
receivers and whether or not such right is paramount and exclusive,
stated that it "is a question we do not feel called on to now decide
because the present case does not so require." However, the court
in commenting on this phase of the question further said:
"In that regard we also note that in Korbly v. Springfield Trust, 245 U. S. 330,

the Supreme Court said:

"From the earliest days of the administration of the National Banking Act to
this case attempts have been made in many forms to give to it a technical construe-




28

KBPOBT OF THE COMPTROLLER OF THE CXJBKEKCY

tion which would so restrict the powers of the comptroller as to greatly delay
and impede the settlement of the affairs of insolvent banks. But this court has
uniformly declined to narrow the act by construction, and has placed a liberal
interpretation upon its provisions to promote its plain purpose of expeditiously
and justly winding up the affairs and paying the debts of such unfortunate
institutions."
"Not only the research of counsel but our independent research has shewn
no case where a Federal or State Court has appointed a receiver for a going national
bank as distinguished from one in liquidation. Sufficient to say that in the present
case we regard the Comptroller at the time this bill was filed as having complete
dominion over and, by his bank examiner, full legal control of the then and future
operations of the bank, and that such situation might ultimately require the
appointment of a receiver. Consequently the court below, when the bill was
filed, acquired no jurisdiction to shear the Comptroller of the statutory power to
take the further step of appointing a receiver in case insolvency existed and the
attempted sale fell through. As the order states, the Comptroller had on file
at that time information of the insolvency of the bank, it is clear he had already
complied with the statutory provisions of fon examination of its affairs/ after
which he 'may appoint a receiver'."

The full text of this decision is given in Exhibit A in the appendix
of this report.
From the date of the first failure of a national bank in the jear
1865 to October 31, 1930, 1,417 national banks have been placed in
charge of receivers. Of this number, 76 have been restored to
solvency and permitted to resume business, leaving 1,341 to be administered by receivers. Of these so administered, 443 (17 more than
reported at the close of 1929) are still in process of liquidation and 898
have been entirely liquidated and the affairs thereof finally closed.
The capital of the 1,417 insolvent national banks at the date of
failure was $152,075,420. The capital of the 76 banks that have
been restored to solvency was $12,805,000. The capital of the 443
banks that are still in process of liquidation was $34,794,500, and the
capital of the 898 banks that have been completely liquidated was
$104,475,920.
The aggregate book value of the assets of the 1,341 administered
receiverships, including assets acquired after suspension, was $923,470,652, in addition to which there have been levied against shareholders assessments aggregating $99,710,740. Total collections by
receivers from these assets to September 30, 1930, including offsets
allowed and collections from stock assessments, amounted to 55.59
per cent of the total of such assets and stock assessments. The
disposition of such collections was as follows:
Collections:
Collections from assets, including offsets allowed and, for accounting purposes, dividends paid secured creditors of all
trusts finally closed Oct. 1, 1924, to Oct. 31, 1929--$521, ©02, 716
Collections from stock assessments
47, 808, 857
Total




.____

«

568, 811, 573

REPOK-T OF THE COMPTROLLER OF THE CURRENCY

29

Disposition of collections:
Dividends paid to secured and unsecured creditors on total
secured and unsecured claims proved and outstanding in
the aggregate amount of $498,741,310 at date of final
closings of trusts, or as of Sept. 30, 1930, for those trusts
still in process of liquidation
$299, 263, 979
Payments to secured and preferred creditors, including offsets allowed, disbursements for the protection of assets,
and, for all trusts finally closed from Oct. 1, 1924, to Oct.
31, 1929, dividends paid secured creditors
214, 211, 896
Payment of receivers' salaries, legal and other expenses
35, 820, 084
Cash returned to shareholders
4, 174, 109
Cash balances with the comptroller and receivers
15, 341, 505
Total

568,811,573

In addition to this record of distribution there have been returned
to shareholders, through their duly elected agents, assets of a book
value of $16,471,958. The outstanding circulation of these 1,341
receiverships at date of failure was $57,944,576, secured by United
States bonds on deposit with the Treasurer of the United States of
the par value of $61,236,620.
The 443 banks that were as of October 31, 1930, still in charge of
receivers and in process of liquidation had assets, including assets
acquired subsequent to their failure, aggregating $364,322,736. The
capital of these banks was $34,794,500, and there had been levied
by the Comptroller of the Currency to October 31, 1930, stock assessments against their shareholders in the amount of $31,304,500. The
collections from these assets, including offsets allowed and collections
from stock assessments, as shown by receivers' last quarterly reports
under date of September 30, 1930, amounted to 51.31 per cent of
such assets and stock assessments. The disposition of such collections
was as follows:
Collections:
Collections from assets, including offsets
Collections from stock assessments
Total

_.

Disposition of collections:
Dividends paid to unsecured creditors. Unsecured liabilities
at date of failure aggregated $223,582,383
Dividends paid to secured creditors. Secured deposits and
other liabilities aggregated at date of failure $70,756,553. _
Payments to secured and preferred creditors, other than
through dividends
Offsets allowed and settled
Disbursements for the protection of assets
Payment of receivers' salaries, legal and other expenses
Cash returned to shareholders
Cash balances in hands of comptroller and receivers
Total

$188, 516, 031
14, 501, 288
203, 017, 319

91, 015, 389
2, 720, 177
56, 731, 691
22, 279, 746
3, 105, 544
11, 473, 287
350, 000
15, 341, 505
203, 017, 319

In addition to the above record it is found that total secured and
unsecured claims proved and outstanding as of September 30, 1930,
aggregated $197,981,404, The outstanding circulation of the 443
receiverships at date of failure was $17,373,311.50, secured by United
States bonds on deposit with the Treasurer of the United States of
the par value of $17,946,850.



30

M3POBT OF THE COMPTROLLER OF THE CURRENCY

From the date of the first failure of a national bank in 1865 to the
close of business October 31, 1930, 974 receiverships have been liquidated and the trusts closed or the affairs thereof restored to solvency.
Included in this number are the 76 banks restored to solvency (4 in
1930) and 83 the liquidation of which was completed during the year
1930. The 898 banks liquidated by receivers had assets, including
assets acquired subsequent to their failure, aggregating$559,147,916.
The capital of these 898 banks was $104,475,920 and there were levied
by the Comptroller of the Currency stock assessments against their
shareholders in the amount of $68,406,240. The collections from
these assets, including offsets allowed and collections from stock
assessments, as shown by receivers'final reports, amounted to 58.28
per cent of such assets and stock assessments. The disposition of
such collections was as follows:
Collections:
Collections from assets, including offsets allowed and, for
accounting purposes, dividends paid secured creditors of
all trusts finally closed Oct. 1, 1924, to Oct. 31, 1929
$332, 486, 685
Collections from stock assessments
33, 307, 569
Total

365, 794, 254

Disposition of collections:
Dividends paid to secured and unsecured creditors, on total
secured and unsecured claims proved and outstanding at
dates of final reports, in the aggregate amount of $300,759,906
205, 528, 433
Payments to secured and preferred creditors, including offsets allowed, disbursements for the protection of assets,
and, for all trusts finally closed Oct. 1, 1924, to Oct. 31,
1929, dividends paid to secured creditors
132, 094, 915
Payment of receivers' salaries, legal and other expenses
24, 346, 797
Cash returned to shareholders
3, 824, 109
Total

365, 794, 254

In addition to this record of distribution, there were returned to
shareholders, through their duly elected agents, assets of a book
value of $16,471,958.
From the above it will be noted that the average percentage of all
dividends paid on the aggregate of secured and unsecured claims
proved and outstanding at dates of final reports, against the 898
receiverships that have been finally closed, but not including the 76
restored to solvency which paid 100 per cent, was 68.33 per cent. If
payments to secured and preferred creditors, offsets, and other disbursements, as indicated above, were included with the dividends paid
in this calculation, the total disbursements to creditors would amount
to $337,623,348 or 77.99 per cent of claims proved plus other liabilities
paid but not included in the figure above of proved claims, or $432,854,821. In making the above calculations of percentages of payments to secured and preferred creditors it has been impossible to
take into consideration those claims of creditors which were neither
proved nor paid, as well as secured claims which were proved and upon
which dividends were paid but which were subsequently eliminated
from the total of claims proved by reason of having been paid in full
out of the proceeds of collateral collections. The consideration of
such unproved, unpaid claims and secured claims proved but not
included in the total thereof set out in the table above, would very
materially reduce the percentages of payments to creditors as given.



REPORT OF THE COMPTROLLER OF THE CURRENCY

31

Expenses incident to the administration of the 898 closed trusts
such as receivers7 salaries, legal and other expenses, amounted to
$24,346,797 or 3.87 per cent of the book value of the assets and stock
assessments administered, or 6.65 per cent of collections from assets
and stock assessments. The assessments against shareholders averaged 65.47 per cent of their holdings and the total collections from
such assessments as were levied were 48.69 per cent of the amount
assessed. The outstanding circulation of these closed receiverships
at date of failure was $40,571,264.50, secured by United States bonds
on deposit with the Treasurer of the United States of the par value
of $43,289,770.
During the year ended October 31, 1930, 83 receiverships were
closed, in addition to which 4 banks were restored to solvency. The
total assets of the 83 receiverships, including assets acquired subsequent to suspension, aggregated $44,671,504. The capital of these
banks was $5,510,000 and assessments against shareholders levied by
the Comptroller of the Currency aggregated $5,015,000. The collections from these assets including offsets allowed and collections
from stock assessments, as shown by receivers' final reports, amounted
to 56.8 per cent of such assets and stock assessments. The disposition
of such collections was as follows:
Collections:
Collections from assets, including offsets allowed
Collections from stock assessments
Total
Disposition of collections:
Dividends paid to unsecured creditors. Unsecured liabilities
at date of failure aggregated $19,993,710
Dividends paid to secured creditors. Secured deposits and
other liabilities aggregated at date of failure $14,387,629- _.„
Payments to secured and preferred creditors, other than
through dividends
Offsets allowed and settled
Disbursements for the protection of assets
Payment of receivers' salaries, legal and other expenses
Cash returned to shareholders
Total

$25, 531, 872
2, 692, 194
28, 224,066

10, 576, 060
1, 672, 510
11, 779, 202
2, 074, 675
228, 365
1, 886, 943
6, 311
28,224,066

It is also found that total secured and unsecured claims proved and
outstanding at date of final reports aggregated $25,310,410.
In addition to this record of distribution, there were returned to
shareholders, through their duly elected agents, assets of a book value
of $260,334.
From the above it will be noted that the average percentage of dividends paid on unsecured liabilities at date of suspension of the 83
receiverships that were finally closed during the year ended October
31, 1930, not including the 4 banks restored to solvency which paid
creditors 100 per cent, was 52.89 per cent. The average percentage
of dividends paid on secured deposits and liabilities at date of suspension of the 83 receiverships amounted to 11.62 per cent, while dividends, together with other payments to secured and preferred creditors, amounted to $13,451,712, or an average payment on secured and
preferred liabilities at date of suspension of 93.49 per cent. The
inclusion of offsets allowed with dividends paid to unsecured creditors



32

'BEPOBT OF THE COMPTROLLER OF THE CTJEBEN€Y

gives total payments of $12,650,735, or an average total return upon
unsecured liabilities at date of suspension of 63.27 per cent, while all
payments to all creditors, consisting of offsets, dividends paid on both
secured and unsecured deposits, and other payments on secured and
preferred liabilities, amounted to $26,102,447, or an average total
return of 75.92 per cent upon all liabilities at date of suspension in the
amount of $34,381,339. In making the above calculations it has been
impossible to take into consideration additional liabilities of the 83
receiverships established after suspension, the inclusion of which would
reduce somewhat the percentages given. It may also be of interest
to note that the average percentage of all dividends, amounting to
$12,248,570, paid on both secured and unsecured claims aggregating
$25,310,410 proved against the 83 receiverships that were finally
closed during the year ended October 31, 1930, but not including the
4 banks restored to solvency which paid creditors 100 per cent, was
48.39 per cent. ^
Expenses incident to the administration of these 83 trusts, such as
receivers' salaries, legal, and other expenses, amounted to $1,886,943
or 3.79 per cent of the book value of the assets and stock assessments
administered, or 6.68 per cent of collections from assets and stock
assessments. The assessments against shareholders averaged 91.01
per cent of their holdings and the total collections from such assessments as were levied were 53.6 per cent of the amount assessed. The
outstanding circulation of these 83 receiverships at date of failure was
$2,510,787.50 secured by United States bonds on deposit with the
Treasurer of the United States, of a par value of $2,589,100.
The financial operations of the division of insolvent national banks
from September 30, 1929 to September 30, 1930, were as follows:
Collections:
Cash on hand Sept. 30, 1929
$12, 521, 593
Collections from assets during the year, including offsets allowed35, 559, 735
Collections from stock assessments
3, 194, 040
Total
Disposition of collections:
Dividends paid
Secured and preferred claims paid
Offsets allowed and settled
Disbursements for protection of assets
Receivers' salaries, legal and other expenses
Returned to shareholders' agents in cash
Cash on hand with comptroller and receivers Sept. 30, 1930-Total

51, 275, 368
19,491,031
9, 043, 646
4,522,942
309, 178
2, 560, 755
6, 311
15, 341, 505
51, 275, 368

In addition to this record of distribution, there were returned to
shareholders, through their duly elected agents, assets of a book
value of $260,334.




•REPORT OF T H E COMPTROLLER OF T H E

Closed receivershios,
8981 "

Total assets taken charge of by receivers.,...

CURRENCY

Active receiverships,
443

33

Total, 1,3411

$559,147,916.00 $364,322, 736.00 $923,470,652.00

Disposition of assets:
Collected from assets and offsets allowed
Loss on assets compounded or sold under order of
court.->._. __ .
. . __
Book value of assets returned to shareholders
Book value of remaining assets...

332,486,685.00

188,516,031.00

521,002,716.00

210,189,273.00
16,471, 958.00

46,153,413.00
0
129,653,292.00

256,342,686.00
16,471,958.00
129,653,292.00

559,147, 916. 00 364, 322, 736.00

923,470,652.00

332,486,685. 00
33,307,569.00

188,516,031.00
14,501, 288.00

521,002,716.00
47,808,857.00

365,794, 254.00

203,017,319.00

568,811,573.00

205, 528,433.00

93,735,546.00

299,263,979.00

132,094, 915. 00
24,346, 797.00
3,824,109.00
0

82,116,981.00
11,473,287.00
350,000.00
15,341,505.00

214,211,896.00
35,820,084.00
4,174,109.00
15,341,505.00

365, 794, 254.00

203,017,319.00

Capital stock at date of failure
3117,280,920.00
United States bonds held at failure to secure circulating
notes
.
.
43,289,770.00
United States bonds held to secure circulation, sold and
circulation redeemed_.
.
.
43,289,770.00
Circulation outstanding at failure
40, 571,264.50
Amount of assessment upon shareholders
68, 406,240. 00
Claims proven
300,759,906.00

34,794,500.00

Total
Collected from assets and offsets as above
Collected from stock assessments

_

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

o

568,811,573.00
3

152,075,420,00

17,946,850.00

61,236,620.00

8,424, 590.00
17,373,311.50
31,304,500.00
197,981,404.00

51,714,360.00
57,944, 576.00
99,710,740.00
498,741,310.00

i Does not include 76 banks restored to solvency.
* Accounted for in final settlement with creditors or charged off as loss by order of court.
^ Includes capital stock of 76 banks restored to solvency.

Statistics relative to the capital, date of appointment of receiver,
and per cent of dividends paid to creditors of 83 insolvent national
banks the affairs of which were finally closed, and four insolvent national
banks the affairs of which were restored to solvency during* the year
ended October 31,1930, appear in the following table:
Title

Location

Date receiver
appointed

Capital

Per cent
dividends
paid to
creditors

Abingdon, 111
First National Bank
_,_.
Dec. 17,1927
$75,000
» 83. 26
Do...
Adair, Iowa
35,000
33.21
Dec. 27,1926
Do
Benson, Minn
25,000
17.3
July 6,1926
Do
Bos well, Okla..
50,000
31.3
Oct. 8,1926
Do...
Bridgeport, Nebr...
25,000
43.5
May 28,1921
Do
_... Broadview, Mont...
25,000
9.1
Jan. 30,1923
Broken Bow, Okla..
Do
25,000
24.06
Nov. 2,1926
Stockmens National Bank
Brush, Colo...
35,000
62. 75
Mar. 1,1926
Farmers National Bank
. . Burlington, Kans...
55,000
45.2
May 21,1924
First National Bank
Center, Tex
70.6
50; 000
Dec. 3,1924
Do
Clearbrook, Minn..
25,000
57.6
Nov. 2,1926
Brotherhood of Railway Clerks National Cincinnati, Ohio
400,000
2 100
June 26,1930
Bank.
j
Mar. 9,1925 200,000 3 106. 34
Clarksville, Tex
City National Bank
.
First National Bank
...I Claxton, Ga
50,000
2 100
Dec. 7,1929
Liberty National Bank of South Carolina- Columbia, S. C
500,000
» 87.12
Mar. 4,1926
City National Bank
Coalgate, Okla
8,1923
50,000
7.85
Nov.
Condon National Bank
Condon, Oreg
50,000
66.8
Dec. 18,1923
First National Bank
Covington, Ind
8,1928
70,000
3103.096
Dec.
1
Receiver appointed to levy and collect stock assessment covering deficiency in value o assets sold,
C
2
Restored to solvency.
^ Principal and interest paid la fall.




34

REPORT OF THE COMPTROLLER OF THE CURRENCY

Title

First National Bank
-United States National Bank
First National Bank
Do
Becority National Bank
First National Bank
Do
Do
Glasgow National Bank
.
First National BankDo
Commercial National B ank
American National Bank
First National Bank
....
Do...
Do
Texas County National Bank
First National Bank
Do
Farmers & Merchants National Bank
City National Bank
First National Bank
Peoples National Bank
First National Bank..
Do
-_
Commercial National Bank
First National Bank
Farmers National Bank
First National Bank
Do
Exchange National Bank
England National Bank
First National Bank....
Dp...
Monticello National Bank
First National Bank
Do
Nowata National Bank
Guthrie County National Bank
First National Bank
Perry National Bank.
First National Bank
Do
Do
Do
Do.__
:....
Do...
..._
Jefferson County National Bank.
First National Bank
_
Rosedale National Bank
National Exchange Bank
First National Bank
National City Bank
Citizens National Bank.
First National Bank
Do
Do.
American National Bank
Taylorville National Bank
First National Bank
Do
Do
Do
Do
Weiser National Bank
Merchants National Bank
First National Bank
Citizens National Bank
First National Bank...

Location

Dahlgren, 111
Dinuba, Calif
Drayton, N. Dak
Dubois, Idaho
I
Fargo, N. Dak
Fort Lauderdale, Fla__
Fulda, Minn
Fulton, Mo
Glasgow, Mont..
Garner, Iowa...
Gonvick, Minn
Great Falls, Mont
Green City, Mo
_.
Greenfield, Iowa
Greensboro, Ga
Gridley, Calif
Guymon, Okla
„
Hanna, Okla...
Havelock, Iowa
Henderson, Tex
Hugo, Okla
Idabel, Okla...
Independence, Iowa...
Jasper, Minn
Jefferson, Iowa
....
Jefferson, Tex
Kimball, W. Va
Lake Preston, S. DakLam berton, Minn
Laurel, Nebr
Leon, Iowa
Little Rock, Ark
Mena, Ark
Mitchell, S. Dak
Monticello, Ind
Moulton, Iowa
Norway, Iowa
Nowata, Okla
Panora, Iowa
Pasco, Wash
Perry, Iowa
Pilger, Nebr
Redwood Falls, Minn.
Renville, Minn
Renwick, Iowa.
Rifle, Colo
Rigby, Idaho
do
Rock River, Wyo
Rosedale, Miss.
St. Paul, Minn
Sallisaw, Okla. _
Salt Lake City, Utah.
Shelbyville, 111
Springer, N. Mex
Stanley, N. Dak
Sterling, Colo...
Stigler, Okla
Taylorville, HI
Toledo, Iowa
Torrington, Wyo
Ulen, Minn.
Vale, Oreg
Wausa, Nebr.
Weiser, Idaho
Wimbledon, N. Dak._
Winner, S. Dak
Worthington, Minn...
Wynot, Nebr.

Date receiver
appointed

Capital

July 22,1929
Mar. 25,1927
Aug. 12,1929
May 5,1927
Aug. 30,1928
Dec. 15,1928
Oct. 7,1926
Apr. 24,1926
Dec. 29,1925
Dec. 4,1928
Nov. 5,1926
Dec. 9,1922
Mar. 31,1927
Mar. 21,1928
Jan. 9,1926
Jan. 29,1921
Nov. 13,1923
Jan. 16,1928
Nov. 5,1927
Feb. 24,1930
June 5,1925
Feb. 18,1925
July 5,1928
May 1,1925
Dec. 23,1925
Feb. 12,1930
June 26,1930
Dec. 17,1925
July 6,1927
Feb.
2,1928
Mar. 9,1927
Nov. 1,1926
Dec. 15,1928
Oct. 23,1923
Jan. 7,1927
Jan. 14,1927
Mar. 23,1927
Feb. 19,1924
July 22,1926
Nov. 21,1925
Feb. 5,1925
Apr. 22,1924
July 29,1925
Feb. 14,1925
Jan. 13,1927
Dec. 24,1925
Jan. 12,1925
Jan. 17,1925
June 14,1923
June 10,1929
May 16,1929
Oct. 24,1927
Feb. 3,1922
Feb. 21,1928
June 15,1925
Dec. 15,1926
Apr. 5,1924
Mar. 1,1927
Oct. 18,1929
Nov. 3,1926
Dec. 16,1924
Oct. 28,1924
Nov. 15,1921
July 9,1925
June 23,1924
Oct. 27,1922
Jan. 31,1923
June 19,1924
Dec. 27,1927

$30,000
50,000
50,000
25,000
100,000
100,000
25,000
100,000
75,000
50, 000
25,000
200,000
45,000
50,000
50,000
40,000
25,000
25,000
25,000
100,000
100,000
80,000
75,000
30, 000
50,000
30,000
25,000
25,000
50,000
40,000
35,000
300,000
50,000
100,000
50,000
35,000
25,000
25,000
50, 000
50, 000
75,000
50,000
70, 000
25,000
25, 000
50,000
80,000
50,000
50,000
85, 000
300,000
50, 000
250, 000
50,000
50,000
25,000
100,000
25,000
150,000
85,000
50.000
25; ooo
50,000
75,000
75,000
25,000
30,000
25,000
25,000

Per cent
dividends
paid to
creditors
MOO

73.9
* 100.03332
47.3
«100
10
40.4

89.25
67.2
1 51. 754
37.01
27.74
36.8
68.73
40.5
13.8
68
3105.14
97.35
<100
51.8
31.73
178.7
33.95
63.7
«100
2 100
29
1 61. 62
74.8
45.82
1 6. 381
1 29. 976
27.7
116.58
81.6
90.5
46.63
75.4
78.6
51. 77
21.866
69
63.65
33
77.4
18.5
10

30.5
3104. 5
10
19.37
71.9
3 103.14
64.4
42
52.9
53
2 100
»65
85.9
13.35
7
35.85
22.2
4.3
28

37.3
63.9

1 Receiver appointed to levy and collect stock assessment covering deficiency in value of assets sold.
8
Restored to solvency.
*
4 Principal and interest paid in full.
Dividends paid by purchasing bank.
•Including dividends paid through or by purchasing bank.




REPORT OF THE COMPTROLLER OF THE CURRENCY

35

BANK FAILURES OTHER THAN NATIONAL

Information furnished by the banking departments of the several
States discloses that during the fiscal year ended June 30, 1930,
there were 558 failures of State and private banks, with liabilities
aggregating $253,694,000, as compared with 480 failures in the
previous year, with total liabilities of $134,156,000.
Tables showing the number of failures and liabilities of banks
other than national and national banks in each State, for the 6-month
periods ended December 31, 1929, and June 30, 1930, together with
similar figures for the year ended June 30, 1930, 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 1930, inclusive.
NATIONAL-BANK CIRCULATION

Notwithstanding a reduction of $717,000,000 was made during the
fiscal year ended June 30, 1930, in the interest-bearing debt of the
United States, bonds eligible as security for national-bank circulation
on June 30, 1930, aggregated $674,625,630, the same as on June 30
of the year previous, comprising $599,724,050 consols of 1930; $48 r
954,180 Panama Canal 2's of 1916-1936, and $25,947,400 Panama
Canal 2's of 1918-1938. On June 30 of the current year the Treasurer
of the United States held as security for national-bank circulation
$592,608,650 of consols and $74,216,100 Panama Canal 2's, a total of
$666,824,750, representing 98.84 per cent of the aggregate of circulation bonds outstanding.
The circulation of national banks outstanding on June 30 this
year amounted to $698,317,468, of which amount $665,607,070 was
secured by bonds, and the remainder, $32,710,398, was secured by
lawful money held by the Treasurer to provide for the redemption
of the notes of banks retiring their circulation and on account of
associations in liquidation.
Statement of capital stock of national banks, national-bank notes, and Federal
reserve bank notes outstanding, bonds on deposity etc.
July 1, 1930
Authorized capital stock of cationM banks..
Paid-in capital stock of national banks

June 2, 1930 ! July 1, 1929

$1, 753, 790, 629 $1, 754, 760, 629
1, 753,604,663
1, 754,440,823

Increase or
decrease since
above date
Increase of authorized capital stock..
Decrease of authorized capital stock.
Increase of paid-in capitpl stock
Decrease of paid-in capital stock

$1, 635, 308,915
1,633, 690,307

Increase or
decrease since
above date
$118, 481, 714

$970,000
836,160

119,914,356

National-bank notes outstanding secured by United
States bonds, old and new series
National-bank notes outstanding secured by lawful
money, old and new series
_

$665, 607, 070

$665, 719, 485

$662, 773, 570

32, 710, 398

31,933,193

41, 520,872

Total national-bank notes outstanding, old and
new series

698,317, 468

697, 652, 678

704, 294, 442




36

E.EPOBT OF THE COMPTBOULEB OF THE CTJBREKCY

Statement of capital stock of national banks, national-bank notes^ and Federal
reserve bank notes outstanding, bonds on deposit, etc.—Continued
Increase or
decrease since
June 2, 1930
Increase secured by. United States bonds
Decrease secured by United States bondf
Increase secured by lawful nloney
l>ecrease secured by lawful inoney_

$2,833, 500

$112,415
777,205

__

Net increase.
Net decrease

8,810,474

664, 790

Federal reserve bank nates outstanding secured b y
United States bonds
Federal reserve bank notes outstanding secured by
lawful money
.--.. -

$3,260,042

$3,260,042

$3, 711,131

3, 260,042

3,711,131

Increase or
decrease since
above date
Increase secured by United States bends
Decrease secured by United States bondsi
Increase sscnred by lawful Dloaey.. _.
Decrease secured by lawful in©ney

5,976,974

3,260,042

Total Federal reserve bank notes outstanding

Net increase
Net decrease.

Increase or
decrease since
July 1, 1929

_

Increase or
decrease since
above date

. . . .

-

$451,089

........

_

451,089

On deposit
to secure
Kinds of bonds on deposit nationalbank notes

National-bank notes of Federal reeach d e n o m i n a t i o n serve bank
outstanding
notes ofeach
denomination ©wtOld series New series stending

United States consols of $592,608,650
1930^ (2 per cent).
United States Panama of 48, 575,900
1936 (2 percent).
United States Panama of 25, 640,200
1938 (2 per cent).
Total

666*824,750

One dollar
Two dollars
Five dollars
_
Ten dollars
Twenty dollars
Fifty dollars.
One hundred dollars...
Five hundred dollars. _.
One thousand dollars. _
Fractionpl parts

$340,906
162, 648
22,060,805 $143, 423,995
53,333, 965 252, 734, 790
60,985, 210 123,158, 740
10, 780, 800 16,325,050
8, 581,000
12, 342, 500
87, 500
21,000
61,554
5

$1,961,192
58ti, 160
423,665
123.345
167,630
14,16©

Total

160,176,788
2,014,920

644, 223, 580
4,067,980

3,260,042

Total

158,161,868

540,155,600

3,260,042

Less 1

1 Notes redeemed but not assorted by denominations.

In the year ended October 31, 1930, the withdrawal of bonds held
by the Treasurer of the United States in trust as security for nationalbank circulation amounted to $58,782,000.
The withdrawals by reason of liquidation of banks amounted to
$31,395,610, and on account of banks placed in charge of receivers,
$1,386,490.
Bonds held by the. Treasurer of the United States in trust as
security for circulation were augmented to the extent of $61,174,350,
on account of deposits made by newly organized banks and by those
increasing their circulation. The transactions of the year by months
ill each account named are shown in the following statement:



37

REPORT OF THE COMPTROLLER OF THE CURRENCY

United 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, 1930

Data

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

Bonds
withdrawn
by banks
reducing
circulation

Bonds
withdrawn
by banks
in liquidation

Bonds
withdrawa
by banks
in insolvency

1929
November
December
January
February
March
April
May
June
July
August
September
October

$9,105, 700
7,004,000

$7, 871,150
5, 843,000

2, 694,150
2,165, 000
961, 250
2, 258, 500
2, 354, 000
1, 758, 000
4, 922, 500
3,941, 500
1,935, 000
1, 653, 000

5, 987,010
753, 800
3, 206, 250
1, 793, 750
1,276, 000
2,184,150
714,000
270,000
525, 000
971, 500

$382, 50Q

25, 999, 900

31, 395, 610

1,386,490

1930

Total
1

$335,000
1,022,000

8, 753, 800
2, 562, 760
4,310, 000
4, 534, 250
3,135, 500
4, 098, 150
5,468, 000
5,126, 200
3,008, 300
4,067, 700
i 61,174, 350

82,490
487,500
250,000
50,000
134,0(M>

Includes $1,262,500 deposited b y 21 of 108 b a n k s c h a r t e r e d d u r i n g t h e year.

REDEMPTION OF NATIONAL AND FEDERAL RESERVE BANK
CIRCULATION

During the year ended June 30, 1930, the national-bank notes,
Federal reserve notes, and Federal reserve bank notes aggregating
$3,370,792,108.50 were redeemed in the United States Treasury at a
total expense of $720,902.18.
Redemptions included Federal reserve notes amounting to $2,639,532,110; Federal reserve bank notes received from all sources,
$451,089; and national-bank notes of $730,808,909.50, the latter
amount including $36,825,374.50 redeemed on retirement account.
National-bank notes were redeemed at an average cost of 88 cents
per $1,000; Federal reserve notes received from sources other than
the Federal reserve banks, 85 cents per 1,000 notes; canceled and
other Federal reserve notes received direct from Federal reserve
banks and branches, 31 cents per 1,000 notes redeemed; and redemption on account of Federal reserve bank notes at the rate of $1.49
per 1,000 notes.
Statements showing the amount of national-bank notes, Federal
reserve notes, and Federal reserve bank notes received monthly for
redemption in the year ended June 30, 1930, the source from which
received, and the classification of redemptions, together with the
rate 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.
NATIONAL BANKS OF ISSUE

Of the 7,252 reporting national banks on June 30, 1930, there were
5,839 banks with capital of $1,424,688,000 issuing circulating notes*
and on the same date the amount of notes outstanding aggregated




38

REPORT OF THE COMPTROLLER OF THE CTJRRElSrCY

$652,339,000. The 1,413 banks which did not exercise the circulation privilege had capital stock paid in amounting to $319,286,000.
A table disclosing, according to reserve cities and States, the number of national banks issuing circulation, their capital, amount of
circulation outstanding, together with the number of associations
not issuing circulation and their capital on June 30, 1930, is published
in the appendix of this report.
There are also published in. the appendix tables showing by months
the profit on national bank circulation based upon a deposit of $100,000
United States consols of 1930, and Panama Canal bonds at the average net price during the year ended October 31, 1930. These tables
are supplemented by others showing the investment value of circulation bonds quarterly, and the monthly range of prices in New
York in the year ended October 31, 1930.
CONDITION OF NATIONAL BANKS AT DATE OF EACH CALL
DURING THE YEAR
Under authority of section 5211, Revised Statutes, national ban^s
were called upon to submit four reports of condition during the year
ended October 31, 1930, 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
October 4, 1929, are shown in the following statement:
Abstract of reports of condition of national banks on dates indicated
[In thousands of dollars]
Oct. 4,
Mar. 27,
Dec. 31,
Sept. 24,
June 30,
1929—7,473 1929—7,408 1930—7,316 1930-7,252 1930—7,197
banks
banks
banks
banks
banks
RESOURCES

Loans and discounts (including rediscounts) 1
14,961,877 15,150,046 14,648,753 14,887,752
Overdrafts
15,533
10,181
9,452
9,943
United States Government securities
owned
2,704,874
2,612,087 2,722,843 2, 753,941
Other bonds, stocks, securities, etc.,
owned—
3,741,014 3,845,756 3,832,829
4,134,230
Customers' liability account of acceptances.
484, 728
617,515
519,530
509,433
746,419
Banking house, furniture, and fixtures
766,193
765*866
787,750
121,684
Other real estate owned
123,613
125,823
124,584
Keserve with Federal reserve banks. _
1,320,427 1,348,046 1,363,651 1,421,676
347,362
393, 330
342,507
Cash in vault
350,641
Due from banks
2,970,190 3,413,047 2, 507, 770
3,579,892
Outside checks and other cash items
69,921
93,034
45,106
71, 264
Redemption fund and due from United
States Treasurer
32,854
32,928
33,025
32,821
Acceptances of other banks and bills of
188,925
230,961
exchange or drafts sold with indorsement.
203,966
244,100
21,929
26,985
17,596
Securities borrowed
_
18,000
196,573
Other resources
218,761
199,541
200, 752
Total..

27,924,310

28,882,483

27,348,498

14,653, ©78
11,128
2,817,156
4,307,096
475,548
793,808
129,471
1,432,892
339,839
2,888,481
36,741
32,768

228,527
16,505
215,645

29,116, 539

28,378,683

1,743,974
1, 591,339
545,873
94,962

1,745,125
1,592,814
586,430
83,813

79,129
652,339
3,418,148

£5,619
652,260
3 r 1*4,949

LIABILITIES

Capital stock paid in
1, 671, 274
1,704,473 1, 704,408
Surplus fund
1, 515, 241
1, 548,376
1, 553, 544
Undivided profits—net
555,873
497,043
541,195
Reserves for dividends, contingencies, etc..
61,759
91,911
79,467
Reserves for interest, taxes, and other
expenses accrued and unpaid
86,475
71,931
88,759
National-bank 8notes outstanding
641,104
649,703
646,420
2,829,960
Due to b a n k s . .
3,146,301
2,762,093
i Includes customers' liability under letters of credit.
Digitized for * Includes certified and cashiers' checks, and cash letters of credit and travelers'
FRASER



checks outstanding

REPORT OF THE COMPTROLLER OF THE CURRENCY

Abstract of reports of condition of national banks on dates

39

indicated—Continued

[In thousands of dollars]
Oct. 4,
Dec. 31,
Mar. 27,
June 30,
Sept. 24,
1929—7,473 1929—7,408 1930—7,316 1930—7,252 1930—7,197
banks
banks
banks
banks
banks
Demand deposits
10,568,012 11,089,432
Time deposits (including postal savings).. 8,301,751 8,434,442
United States deposits
j
202,274
103,318
Total deposits
21,901,997
22, 778,493
Agreements to repurchase United States
Government or other securities sold
41,690
31,981
657,572
Bills payable and rediscounts
,__545,587
Acceptances of other banks and bills of
188,925
230,961
exchange or drafts sold with indorsement479,931
626,497
Acceptances executed for customers
Acceptances executed by other banks for
20,618
12,538
account of reporting banks
21,929
26,985
Securities borrowed
79,922
74,287
Other liabilities
Total

-___

22439°—31-




27,924,310

28,882,483

10,163, 225
8,514,864
200,796
21,640,978

10,926,201
10,334,688
8,752,571
8,798,252
171,964
163,428
$8,268,884 22,481,817

10,123
225,654

8,173
229,033

11,954
219,850

203,966
523,194

244,100
511,007

228,627
487,102

11,304
18,000
98,203

15,544
17,596
114,586

16,605
167,537

27,348,498

29,116,539

28,378,683

Principal items of resources and liabilities of national banks, September 24, 1980
[In thousands of dollars]

Loans and
Num- discounts,
ber of including
banks
overdrafts i

Location

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

_

Total New England
States
_.

52
56
45
152
10
61

76,921
45,429
38,896
1,018,258
34,509
187,519

Investments

Real
estate,
furni- Cash in
ture
vault
and
fixtures

66,327
28,647
29,030
370, 744
19,680
69,465

2,829
2,978
1,439
49,321
824
14,201

583,893

71,592

13,909
1,290
55,584

163,733
89,776
77, 849
1,810,347
61,487
307,728

26,176

299, 411

2, 510,920

159, 285

198,967

6,925,837
1,018,565
3,288,463
25,420
234,634
174,199

436,280
56,110

1, 401,532

557
295
834
16
75
12

3,457,185
535, 747
1,596,854
12,098
112,851
88,776

1,652,131 131,166
328,911 42,995
1,075,227 118,826
1,027
9,381
6,751
78,507
42,060 12, 460

Total Eastern States.. 1,789

5,803,511

3,186,217 313,225 101,419

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

62,070
40,069
19,745
16,939
63,003
77,834
43,633
17,825

157
112
64
35
75
55
99
35
31
589
65
131
100

241,392
119,074
85,023
48,040
155, 315
64,360
132,131
54, 404
77,835
562,826
43,806
164, 501
205,544

16,101
189,655
19,654
56,896
43,597

Total Southern States. 1,548

1,954,251

667,021

.._




Capital

NaSurplus tionalbank
and
undivided notes
outprofits
standing

15,014
10,124
6,845
232,958
4,790
29,680

2,088
2,172
1,133

376

New York
New Jersey
Pennsylvania
Delaware
Maryland
_
District of Columbia

Due from
banks,
including Aggregate
reserve
assets
and other
cash items

40,970 1,082, 453
15,704
39,201
406,049
348
2,496
2,367
32,983
2,829
25,943

7,370
5,740
5,160
115,183
4,520
21,312

13,485
9,770
6,066
128,286
7,863
33, 497

Due to

Demand
deposits,
including
United
States
deposits

Time
deposits

35,859
36,860
16,990
758,593
23,958
130,068

96,075
25,807
42,472
491,051
18,949
93,224

1,002,328

1,038
1,296
983
4,936

4,856
4,801
4,257
19,399
3,299
10,236

3,987
5,-136
1,560
166,917
2,193
11,876

767,578

13,072

165, 484
1,648
11,459
10,775

678,992
81,864
362, 551
4,001
19,695
11, 572

69,333
23,687
81,820
902
5,972
4,880

1,048,968
19,049
402,206
394
26,235
13,745

2,683,064 1,337,109
493, 491
325,715
1,001, 716 1,192, 751
9,137
9,101
95,447
72,221
56,765
74,293

41,229
8,555
25,640
171
1,556
200

1,510,597

4,166,110 3,184, 700

77,351
6,408
4,645
7,701
1,488
2,806
2,378
6,084
8,267
3,672

13, 499
3,006
2,779
10,789
73,522

191,669

1,636,384

11,667,118

681,756

1,158,675

186, 594

59,121
20,105
18,421
12,643
60,204
36,734
31,879
10,595
19,611
255,181
12,297
34,060
54,094

385,925
197,611
136,449

17,188

5,964
4,297
3,147
2,239
4,303
6,374
5,028
1,776
2,037
18,812
1,854
3,725
4,704

298,540
196,351
227,978
88,527
125,727
1,083,777
80, 593
270,107
327,343

29,344
13,935
11,475
5,825
19,695
16,035
18,990
5,470
9,125
80,533
5,940
18,653
24,484

28,796
15,695
11,630
5,509
18,821
11,291
17,973
5,246
8,085
69,280
5,081
19,847
22,282

19,112
10,190
6,870
3,402
7,695
3,877
13,813
2,778
6,138
41,553
3,612
14,498
17,021

7,019
6,849
6,209
37,975
16,629
9,847
3,298
16,107
139,964
4,866
23,504
31,932

523,570
28,681
96,601
105,524

149,050
75,517
49,655
35,925
88,310
64,526
67,438
32,817
24,957
201,044
28,877
88,953
111,145

161,547

64,260

624,945

3,503,524

259,504

239,536

150,559

333,595

1,381,627

1,018,214

14,795
11,563
9,228
4,012
12,703
9,332
10, 439
3,356
8,898
49,221
2,595
8,217

Bills
payable
and
rediscounts

119,550
69,035
40,575
25,291
119,136
80,193
87,792
29,899
55,780

4,819

Ohio
Indiana
,
Illinois...
Michigan
Wiscopsin.^
Minnesota
Iowa.T_.,------Missouri.. T ..
*

,~—

307
207
460
126
153
262
2,35
124

463,700
233,782
940,358
345,570
290,891
316,018
166,042.
291,908

TotalMiddle Western
1,874
States
,

3,048,269

---i

216,720
113,631
391,044
164,660
128,500
196,604
96,206
126,329

42, 404
22,141
59,660
27,522
18,177
16,049
14,777
10,242

14,889
11,248
22,212
7,497
6,934
7,439
6,693
5,898

118,940
65,609
281,935
88,819
77,577
139,719
61,629
137,782

875,188
450,854
1,747,316
645,602
530,728
683,385
346,786
578,967

58,885
33,503
10§, 240
32,390
33,360
38,885
21,280
35,210

1,433,694 210,972

68,084
28,641
98, §94
42,963
30,961
30,753
14,263
24,829

33,922
23,346
38,047
18,350
16,568
13,941
12,575
8,617

48,875
31,712
215,147
43,688
50,098
95,153
41,952
119,002

339,088 165,366

645,607

327,647
167,370
689,477
217,440
178,377
251,858
134,770
252,704

307,340
15$, 389
529,247
265,334.
207,904
246., 951
128,528
123,489

9.8W
3,595
7,262
11, ili
1472
1,08C
1,236
1,496

82,810

972,010

5,858,826

358,253

111
96
168
246
60
25
117
27
274

41,927
36,816
129,433
121,187
39,235
20,088
118,315
16,572
195,800

24,752
26,306
64,492
60,169
32,851
10,462
85,393
10,745
108,214

4,054
3,355
8,202
10,428
2,974
1,218
6,994
1,410
14,753

1,490
1,407
3,942
5,083
2,449
1,099
5,415
988
6,039

14,028
11,38j
65,315
53,556
17,355
8,194
72,394
7,088
92,103

8,7,153
80,026
272,033
251,513
95, §53
41,135
289,366
36,902
417,991

6,470
4,810
14,590
17,827
4,900
2,270
12,525
1,935
20,310

3,558
3,676
10,125
13,353
5,166
2,563
13,774
1,396
15,282

2,896
1,896
6,789
9,469
2,219
1,486
4,303
1,351
5,962

3,449
4,153
53,015
27,075
5,590
2,898
28,095
1,904
47,229

31,789
33,790
120,572
127,299
39,883
17,735
123,675
21,234
209,988

38,102
29,843
63,02,4
52,580
36,291
13,926
102,845
8,249
107,694

1,36,6
2,096
769
221
2,614
QIC
3,126

Total Western States.. 1,124

719,433

423,384

53, 388

27,912

341,414

1,571,777

90,637

68,893

36,371

173,408

7?5,965

45^,554

12,877

105
93
201
41
17
10
14

151,966
95,371
1, 393,257
22,290
27,609
11,084
13,372

103,043
86,068
584,021
11,269
16,009
5,792
11,017

10,220
7,377
88,492
2,177
1,457
1,023
1,299

5,155
4,290
22,486
893
438
474
936

67,3Q9
45,519
335,188
8,253
12,833
3,083
5,058

340,838
239,728
2,483,314
45,003
58,503
2|, 516
31,872

26,10Q
13,495
143,27Q
2,675
3,275
1,500
},95G

13,384
10,794
140,288
1,618
2,199
895
1,946

11,832
5,813
39,130
1,613
2,467
1,190
1,216

37,579
19,769
253,852
2,491
12,514
1,885
976

144,955
101,650
96,464
91,152
689,784 1,148,189
19,855
15,667
21,673
15,154
7,245
8,576
14,838
10,746

1,038
1,158
2,6,29
52.7
513
150
14

Total Pacific States....

481

1,714,949

817,219

112,045

34,672

477,243

3,220,769

192,265

171,124

63,261

u29,066

994,814 1,392,134

6,02J

Alaska (npnm ember banks).
The Territory of Hawaii
(nonmember bank),

4

2,359

1,842

134

420

1,103

5,864

275

302

111

51

3,088

2,013

1

19,902

10,981

376

2,170

5,604

39,885

3,150

2,659

3,150

956

14,541

14,878

12,823

510

2,590

6,707

45,749

3,425

2,961

3,261

1,007

17,629

16,890

4,358,114 28,378,683

1,745,125

North Dakota
South Dakota
Nebraska
Kansap...
Montana...
Wyoming
Colorado
_
New Mexico
Oklahoma

_.

_
._

Washington
Oregon
California
T
daho
Utah
Nevada
Arizona

Total (nonmember j
banks)
_

1
2

5

22,261

Total United States... 7,197

14,664,206

T

7,124,251 923,279 339,839

Includes also customers' liability under letters of credit.
Includes certified anej cashiers' checks, and cask letters of credit and travelers' checks outstanding,




2,179,244 652,260 3,184,949

2,209,643 1,966,182

36,999

950
1,125

e

a
©

10,498,116 8,798,252 219,850

a

42

REPORT OF THE COMPTROLLER OF THE CURRENCY

NATIONAL-BANK

LIABILITIES ON ACCOUNT OF BILLS PAYABLE
AND REDISCOUNTS

Liabilities of national banking associations for money borrowed on
account of bills payable and rediscounts at the date of each call since
October 31, 1929, are shown in the following statement:
Total borrowings of national banks on account of bills payable and rediscounts at
date of each call since October 31, 1929, according to geographical location
[In thousands of dollars]
New
England
• States

Dec. 31, 1929:
Bills payable
Rediscounts
Total
Mar. 27, 1930:
Bills payable
Rediscounts
Total
June 30, 1930:
Bills payable
Rediscounts
Total
Sept. 24, 1930:
Bills payable
Rediscounts

Middle
Eastern Southern Western Western
States
States
States
States

Pacific
States

Total

17,013
22,565

32,595
3,616

397,411
148,176

240,709

86,308

109,802

32,979

36,211

545,587

76, 689
18,998

15, 611
26, 566

24,158
17,073

4,182
8,814

5,039
3,301

144,694
80,960

95,687

42,177

41,231

12,996

8,340

225,654

14, 403
8,729

58,398
23, 677

26,132
41,480

19,619
14,155

3,611
10,602

4,914
3,313

127,077
101,956

23,132

82,075

67, 612

33, 774

14, 213

8,227

229,033

7,538
5, 534

65,882
11,469

29,830
43, 692

27,070
9,929

3,602
9,275

3,645
2,384

137,567
82,283

13,072

Total

18,407
14,572

25,223

-

72,334
37,468

19, 015
6,208

--

46,801
39,507

39,578

_

210,261
30,448

77, 351

73, 522

36,999

12,877

6,029

219,850

Total borrowings of national banks on account of bills payable and rediscounts at date
of each call since October 81, 1929, according to central and other reserve cities and
country banks
[In thousands of dollarsl
Central
reserve
cities
Dec. 31, 1929:
Bills payable
Rediscounts
Total
Mar. 27, 1930:
Bills payable
Rediscounts
Total
Jane 30,1930:
Bills payable
Rediscounts
Total
Sept. 24, 1930:
Bills pavable
Rediscounts
Total

277,177

545,587

25,051
5,916

114,793
74, 394

144,694
80,960

30,967

189,187

225,654

18,833
8,212

108,244
93,718

127,077
101,956

26




173,608

26

- - --

397,411
148,176

5,500

-- _- . . -

178,731
98,446

4,850
650

._ _._

131,528
42,080

94,802

_

Country
banks

87,152
7,650

- --

Other
reserve
cities

27,045

201,962

229,033

32,200
1,038

26,449
4,415

78,918
76,830

137,567
82,283

33,238

30,864

155,748

219,850

. .

Total

OF THE COMPTBOLLER OF THE CURRENCY

43

LOANS AND DISCOUNTS OF NATIONAL BANKS

The statement following shows a classification of loans and discounts reported by national banks as of June 29, 1929, and June 30,
103D:
Classification of loans and discounts as of June 29, 1929, and June SO, 1930
[In thousands of dollars]
June 29, 1929
Amount
Acceptances of other banks, payable in United States
Notes, bills, acceptances, and other instruments evidencing
loans payable in foreign countries
Commercial paper bought in open market
Loans to banks and trust companies:
On securities
Allother
Loans secured by United States Government and other securities (exclusive of loans to banks)
Real-estate loans, mortgages, deeds of trust, and other liens
on real estate:
On farm land
On other real estate
All other loans, including reporting banks' own acceptances
purchased or discounted
~
Total.
Loans secured by United States Government obligations
Total loans eligible for rediscount with Federal reserve banks.
1

AH loans to banks and trust companies.




Per
cent

June 30,1930
Amount

Per
cent

91,006

0.61

84,275

0.57

39,339
195,666

.27
1.32

61,650
381,470

.35
2.56

» 365,009

2.47

141,272
198,315

1.33

5,113,792

34.55

5,484,713

36.84

308,785
1,104,220

2.09
7.46

296,970
1,176, 031

1.99
7.60

7,583,313

51.23

7,073,156

47.51

14,801,130

100.00

14,887,752

100. m

102,672
2,974,308

106,429
2,718,792

Loans and discounts of national banks, June SO, 19S0l
[In thousands of dollars]
Real-estate loans,
mortgages, deeds
of trust, and other
Loans se- liens on real estate All other
Notes, bills,
cured by
loans, inUnited
Acceptances acceptances, Commercluding reand other
States
of other
porting
instruments cial paper
Governbanks pay- evidencing
banks'own
bought
ment and
able in
acceptances
loans, payin open
othersecuriUnited
purchased
able in forOn
market
On
ties (excluAll
On other
States
eign counsecuri- other sive of loans farm real estate' or discounted
tries
ties I
land
to banks)
Loans to banks
and trust companies

Location

Memoranda

Total

Loans secured by
United
States
Government obligations

Total loans
eligible for
rediscount
with Federal reserve
banks, including
paper under
rediscount

CENTRAL RESERVE CITIES

New York.
Chicago
Total central reserve cities.

65,669

20,213
13,340

14,994
32,663

46,313
11,441

1, 686, 252
264,259

35
235

15, 792
1,591

932,506
253,415

2,837,537
581,386

41,590
1,923

310,565
106,266

65,669

33,553

47,657

57,754 ; 60,205 : 1,950,511

270

17,383 i 1,185,921

3,418,923

43,513 j

2,983

269,627
13,579
1,272
232,067
68,291
29,360
43,225
15,003
9,490
25,840
30,599
16,062
30,872
17, 077
49,757
11,732
29,927
10,776
62,377
20,301
6,061

706,532
26,712
5,135
487,746
217,725
63,561

ffl

a
o
g

416,831

103

H

55,763
4,442

OTHER RESERVE CITIES

Boston
Brooklyn and Bronx.
Buffalo
Philadelphia
Pittsburgh
Baltimore
Washington
Richmond
Charlotte
Atlanta
Savannah «. «.___.
Jacksonville
Birmingham
New Orleans
Dallas.,.
El Paso
Fort Worth
Galveston
Houston,.
San Antonio
Waco
I




"'I'

3,719
10

50,791 11,718 ; 11,949
10
6,793
3,453
1,847

103
110
343

7
49
123
751
*~45

3,180
437
1,427
475
535
9C
143
563
418
40

25,095
7,656
1,953
395
187
6
1,453
108
128
18
819
10
10
363
20
12

8,967
654
785
27 i
3,406
63 i

806 i
3,197
639
2,980 I
1,109 !
2,019 I
155 ;
1,391
129 !
2,567 I
688 !
182

313,334
12,011
3,536
172,774
133, 264
31,053
39,266
11,168
2,735
28,121
17, 760
8,465
8,125
6,817
29,667
3,959
11,963
4,928
24,300
8,962
2,675

41
140
15
40
493
9
279
603
80
367
4
178
580
351

46,025
1,052
327
15,191
1,057
410
2,152
390
596
587
1,738
1,906
1,514
271
1,852
593
623
283
1,647
740
733

32,001
12,905
60,034
54,381
28,862
44,263
26,954
84,786
16,654
44,429
81,900
31,331
10,307

95,606
3,827
1,021
1,441

512
240
77
/i
127

229
244
49

7

33
888
47
79
28
173
47
575

285
112,462
37,575
11,789
11,050
O fiOQ

2,731
17,167
14,435
6,500
14,580
4,250
25,940
6,825
15,812
4,058
13,042
6,912
2.483

w
a
so
w
a

Louteville
Memphis.
NM&flto
Ciaomanti
Cleveland
Columbus
Toted©
Indianapolis-.
Chicago^.—.—
Peoria...
Detroit
Grand Rapids
Milwaukee—
Minneapolis
St. Paul
Cedar Rapids
Des Moines
DubuqueSioux City
Kansas City, M o . . .
St. Joseph
St. Louis
Lincoln
.__„--.
Omaha
Kansas City, Kans..
Topeka
Witihita.
—HelenaDenver
*—
Pueblo
—
Oklahoma City
Tulsa
Seattle
Spokane
Portland
Los Angeles
Oakland
San Francisco
Ogden
Salt Lake City.-.—

2,600
""735"
"""582
3,966

45
100

61

314
490

1,298
100
4,639
1,672
725
1,468
107
2,114
2,741
5,328
22,360
1,625
4,782
42
547

226

293
632

509
12

347

1,842

246
2,194

"7,"367'

2,657

585
510
1,929
2,011
4,422
3,570
205
13,844
263

Total other reserve cities..

11,038

13,738

193,791

Total all reserve cities

76,707

47,291

241,448

»72
8S5
866
1,386
820
1,803

1,646
2,801
2,371
962
32
1,280

1,207
200
138
3,820
590
2,107
550

2,116

293

318
49
60
13
1,665
90
2,598
482
312
34
514
181
18
148
548
194
342
565
1,287
1§6"
75,134

545
585
1,330
2,591
1,685
1,044
2,220
104
895
6,141
2,138
4,580
1,624
3,126
781
8
2,801
209
964
59
1,659
452
126
695
525
334
135
1,199
52
1,058
91,666
151,871

30,838
12,821
21,202
29,690
37,892
22,198
3,768
8,974
24,860
10,357

979
175
19
2
10
35
1,172

12
5,787
3
47,662
29,774
520
31,822
332
6,497
751
11,593
298
1,623
424
2,186
1,072
16,742
118
1,088
92
77,719
20
3,599
53
15,047
169
1,031
492
1,939
62
5,607
100
835
37
22,435 1,172
3,471
8,068
381
23,140
193
25,015
12
4,790
12,084
31
113,588 20,345
8,592
29
199,658 50,626
723
7,168
135

177
842
812
785
13,920
1,034
381
1,152
10,374
714
37,718
935
2,633

1,128
124
818
2,480
563
491
330
88
4,243
67
97

753
84
257
12
2,033

1,569
2,303
324
1,013
3,304
171,766
1,043
186,452
35
282

23,647

15,540
29,393
16,717
35,834
20,973
3,120
36,004
15,745
11,739
50,885
5,831
76,643
82,278
26,786
3,259
10,711
2,455
8,844
48,965
4,136
37,123
9,352
28,335
3,752
4,846
9,492
1,850
33,237
2,107
37,872
36,757
44,584
9,604
139,288
12,324
244,223
2,991
10,776

1,859,705 83,092

533,123

2,211,173

3,810,216

550,506

3,397,094

83,362

59,887
33,872
56,553
49,558
89,080
47,327
7,271
53,429
58,000
186,092
IS, 155
135,017
118,974
61,767
14,155
27,458
15,615
76,016
12,960
149,133
16,802
51,868
6,885
7,167
19,440
3,490
60,541
6,287
50,282
63,864
72,897
18,307
50,814
453,492
22,328
707,313
3,801
19,812
5,072,460
.. . ,
.
8,491,383

163
615
151
977
136
539
154
1,703
341
34
659
16
640
451
14,966
277
49
415
66
795
115
578
89
438
60
190
80
3
570
14
210
238
707
30
193
745
14
509
30

11.450
5,580
10,7:46
5,421
11,365
8,153
1,087
15, 518
7,938
9,672
1,610
22,403
38.403
33,067
2,075
3,132
1,765
7,076
25,885
7,220
61,490
4,630
16,177
1,595
3,792
4,582
1,300
16,287
1,971
10,395
7,324
17,189
2,897
12,028
29,531

1
a
o
g

84,796
1,710
3,927

35,376

939,051

78,889

1,355,882

» Similar classifications of loans and discounts of national banks on Dec. 31,1929, Mar. 27 and Sept. 24, 1930, appear in the appendix of this report.




4
Ox

Loans and discounts of national banks, June 30, 1930—Continued
[In thousands of dollars]
Loans to banks
and trust companies
Loans seNotes, bills,
cured by
acceptances,
Acceptances and other CommerUnited
States
of other instruments cial paper
Governbanks pay- evidencing
bought
ment and
able in
loans, pay- in open
other securiUnited
On
able in for- market
ties (excluAll
States
securi- other sive of loans
eign counties
tries
to banks)

Location

Real-estate loans,
mortgages, deeds
of trust, and other
liens on real estate All other
loans, including reporting
banks' own
acceptances
On On other purchased
farm real estate or discounted
land

Memoranda

Total

Loans secured by
United
States
Government obligations

Total loans
eligible for
rediscount
with Federal reserve
banks, including
paper under
rediscount

10,895
7,336
7,217
41,063
6,181
20,110

COUNTRY BANKS

Maine
New Hampshire
Vermont
_
Massachusetts
-Khode Island _
Connecticut
Total New England States
New York
New Jersey
Pennsylvania
Delaware
...
_
Maryland
Total Eastern States
Virginia..
fc
West Virginia.
North Carolina.. .
South Carolina
Georgia.
Florida- .
Alabama. . . .
_
Mississippi... .
Louisiana
Texas^
Arkansas....,,..
. .




254
4

258

6

6

1,667
1,045
65
15,808
4,361
3,217
26,163

230

41
58
1,292

27,316
16, 519
8,683
111, 604
13,408
94,969

1,612
694
1,558
1,417
223
546

7,507
3,920
4,015
37,624
4,597
19,772

38,087
24,089
25,843
120, 507
11,515
71,985

76,460
46,579
40,164
288,262
34,104
190,949

553
227
161
652
251
788

155

305

385

1,696

272,499

6,050

77,435

292,026

676,518

2,632

92,802

250, 748
179,820
287,381
3,126
12, 762

9,044
2,415
15,478
1,178
3,120

86,866
81,734
129,347
1,382
5,654

340,687
292,156
459, 723
6,162
43, 225

704, 534
562, 520
907,421
12,075
65,151

1,786
1,327
3,349
8
219

134,665
79,966
102, 923
1,660
10,047

31
318
985

218
435
247

16,183
4,278
10,934
185
255

224
606
1,203
35

533
758
2,123
42
100

1,334

.

900

31,835

2,068

3,556

733,837

31, 235

304,983

1,141, 953

2,251,701

6,689

329,261

6,643
966
1,670
972
583
1,688
3,818
486
1,210
1,718
121 1 1,110

47,124
35,547
10,204
9,900
6,323
7,874
10,050
7,603
7,692
31,142
5,052

6,387
1,378
2,288
1,809
3,564
1,344
3,952
5,080
3,513
11,536
2,926

13,388
12,614
2,947
1,819
2,483
5,433
5,259
5,512
1,718
7,890
2,888

132, 742
70,031
55,865
33,489
31,159
21,851
66,367
35,984
38,974
213,169
32,099

209,227
121,285
73,067
49,071
44,899
40,998
90,996
55,146
53,583
275,662
45,175

795
1, 521
488
562
261
238
411
78
65
1,020
235

52,050
17,339
20,648
16,264
15,929
10,556
29,241
15,115
11,813
1"*

...

. _.
..

121

122

170
2
102
1,235
17

3,582
68

997
173

2,370
349
35
832
767
2,510
210 !
356 !
387 !
5,436

738

452
400
58
80
18
74
105
108
89
192

Kentucky
Tennessee

.

371,437

3,257
1,917
1,268
354
516
438
295
372

41,288
40,110
71,137
20,396
39,469
39,469
43,456
14,601

805,361

1,381,015

8,417

309,926

30,713
27,439
53,991
70,572
24,506
15,416
33,043
12,949
63,381

42,721
38,014
62,735
90, 563
38,007
20,623
47,059
17,161
84,224

106
123
51
509
202
65
210
53
570

16,980
18,548
28,888
38,399
12,808
9,345
17,064
6,252
36,162

14,903

332,010

441,107

1,889

184,446

2,545
2,914
9,915
1,669
633
927
748

3,945
1,818
17,408
510
356
939
924

48,783
34,411
99,150
14,707
4,855
6,679
7,277

72,390
45,942
164,953
22,702
6,490
11,090
14,627

155
148
782
47
4
13
49

19,695
12,555
27,431
8,449
2,447
1,617
2,844

19,351

25,900

215,862

338,194

1,198

75,038

323

1,346

2,328

7

3,897

20,573

22,10©
24,529

6,295
2,653

7,260
4,685

71,124
80,753

108,094
117,730

2,820

16,922

2,048

23,989

225,140

52,725

73,896

883,607

6
53
196
38

1,871
3,261
9,653
3,150
7,853
6,993
3,480
2,890

573
829
503
642
371
141
71
121

504
2,112
3,293
2,574
502
610
1,059
1,082

68,982
40,676
62,535
47,325
47,552
28,478
11,161
9,174

13,844
11,614
15,969
5,697
7,121
12,237
11,156
3,071

27,830
24,528
13,472
27,164
11,452
8,896
5,130
4,539

165,113
110,063
188,716
74,025
85,194
69,130
76,219
36,901

39,151

3,251

11,736

315,883

80,709

123,011

1,021
2,402
2,333
3,245
2,417
29
680
276
2,651

35
12
125
29
40
11
36

407
832
558
123
601
135
598

2,845
3,706
2,171
9,226
8,917
2,980
8,707
1,605
10,867

4,943
2,465
2,516
4,387
1,206
876
2,812
626
3,534

2,340
1,428
869
2,433
809
681
1,671
1,591
3,081

13

15,054

288

4,023

51,024

23,365

12
6

2,212
1,882
3,560
1,416
10
390
555

136

76
403
100
64
194
20

14,628
4,227
34,768
4,275
636
1,961
5,085

36

10,025

249

857

65,580

204
3
154
20

186
5

1,429

484

55
155
23
4

.

13

78
112
427
53~
281

Total Western States

.

6,708

278,723
193,140
295,381
160,615
160,249
126,674
108,435
57,798

545
2,580

18

_

Total Middle Western States.

Washington
Oregon „
California
Idaho
Utah
Nevada. __
Arizona

1,284,933

216
135

4
1,044

Total Southern States..

_.

IS, 319
35,073

540
2,392

14

_ _

Ohio
Indiana. . _ _
Illinois
Michigan
Wisconsin
Minnesota _
Iowa
_ _ .. _
Missouri

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

775
259

3

3,786

„ _

._ __ .

.

Total Pacific States

_

334

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

Total United States




87

572
300

95

587

872

Total (nonmember banks)
Total country banks_.

52
61

76T

7,568

4,259

84,275

51,550

95

587

140,022

8,384

46,444

381,470 141,272 198,315

O
O

3
o

E
O

10,447

173

5,074

10,534

173

5,397

5,243

22,901

7

625,525

3,676,062

6,396,369

27,540

1,362,910

5,484,713 296,970 1,176,031

7,073,156

14,887,752

106,420

2,718,792

1,674,497 213,608

1

REPORT OF THE COMPTROLLER. OF THE CURRENCY

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, 1930, 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, 1928 and 1929:
[In thousands of dollars]
Loans
Banks in—

June 30, 1928
Amount

Per cent

June 29, 1929
Amount

June 30, 1930

Per cent

Amount

Per cent

2, 782,766

18.37

2,432;, 945

16.44

2,837,537

19.06

} 3, 581,788
5,038,894

23.65
33.27

2,952,066
5,116,355

19.95
34.56

3,418,923
5,072,460

22.97
34.07

All reserve cities
*
.
States (exclusive of reserve cities)

8, 620,682
6,524,313

56.92
43.08

8,067,421
6, 73S, 709

54.51
45.49

8,491,383
6, 396,369

57.04
42.96

Total United States

15,144,995

100.00

14,801,130

100.00

14,887,752

100.00

New York
Do
Chicago
.
Other reserve cities

COMPARATIVE CHANGES IN DEMAND AND TIME DEPOSITS, LOANS
AND DISCOUNTS, UNITED STATES GOVERNMENT AND OTHER
BONDS AND SECURITIES OWNED, AND THE AMOUNT OF RESERVE
OF NATIONAL BANKS WITH FEDERAL RESERVE BANKS SINCE JUNE
30, 1926

The amount and percentage of increase or reduction of demand
and time deposits, loans and discounts, United States and other bonds
and securities owned, and reserve of national banks with Federal
reserve banks on June 30 of each of the last five years are shown in
the following statement:
|In thousands of dollars]
Per
cent
increase
June 30,
1926

Per
cent
increase

Per
cent
increase

June 30, or de- June 30, or de- June 29, or de- June 30, or de1930
crease
1928
1929
crease
1927
crease
crease
since
June
30,
1926

Demand deposits
Time deposits
Loans and discounts *.
U n i t e d S t a t e s and
other bonds, stocks,
etc., owned
Reserve with Federal
reserve banks

Per
cent
increase

since
June
30,
1927

since
June
30,
1928

since
June
29,
1929

10,778,60310,923,729 +1.3511,003,795 +0. 73 10,504,268 -4.54 10,926,201 +4.02
6,313,809 7,315,624+15.87 8,296,638+13.41 8,317,095 +0.25 8,752,571 +5.24
13,417,67413,955,696 +4. 0115,144,995 +8. 52 14,801,130 - 2 . 27 14,887,752 +0.59
5,842, 253 6,393,218 +9.43 7,147,448 +11.80 6,656,535 -6.87 6,888,171 +3.48
1,381,171 1,406,052 +1.8

1,453,383 +3. 37 1,344,951 -7.46 1,421,676 +5.70

i Includes rediscounts and customers' liability under letters of credit.




REPORT OF THE COMPTROLLER OF THE CURRENCY
UNITED STATES GOVERNMENT SECURITIES OWNED BY NATIONAL
BANKS IN RESERVB CITIES AND STATES

The following statement shows a classification of United States
Government securities owned by national banks according to reserve
cities and States, June 30, 1930. (In the appendix of this report
appear also tables which disclose, by reserve cities and States, similar
classifications of United States Government securities owned by
national banks on December 31, 1929, March 27, and September
24, 1930.)
United States Government securities owned by national banks, June SO, I960
[In thousands of dollars]
Bonds (including
bonds deposited to
secure circulation)

Location

Certificates
Treasury of indebted- Treasury
notes
bills

Total

CENTRAL EESEEVE CITIES

New York..
Chicago

521,459
34,288

21,534
1,438

555,747

Total central reserve cities

62,592
3,335
65,927

22,972

68,798
2,303
581
29,997
142,672
8,543
20,762
3,152
1,927
16,508
1,457
8,943
6,787
2,828
10,154
2,923

3,235

12,116
125
305
583
1,900
3,900
1,028
4,054

605,585
39,061

OTHER RESERVE CITIES

Boston
Brooklyn and Bronx.
Buffalo
Philadelphia
Pittsburgh
Baltimore
_
Washington
Bichmond
Charlotte
Atlanta...,
_
Savannah
_
Jacksonville
„
Birmingham
.__
New Orleans
Dallas
El Paso
Fort Worth
Galveston
Houston
San Antonio
Waco...
Louisville
Memphis
Nashville
Cincinnati
Cleveland
_
Columbus
Toledo
Indianapolis
Chicago
Peoria
Detroit
Grand Eapids
Milwaukee
Minneapolis
St. Paul
Cedar Kapids.
DesMoines...
Dubuque
Sioux City
Kansas City, Mo
6t. J o s e p h . . . . . .
St. Louis
Lincoln...
Omaha..
Kansas City, K a n s . .
Topeka
Wichita
Helena
_
Denver
_
Pueblo
Oklahoma Citv
Tulsa
Seattle
Spokane
Digitized for o r t l a n d , . . .
P FRASER

...

-.

_

_

_

_
_



_

....
_

4,606
11,923
5,351
3,160
£,318
1,781
4,276
7,876
11,417
3,716
2,125
8,324
7,686
5,267
21,665
1,679
11,438
28,364
28,060
1,913
1,940
616
2,287
8,008
1,192
7,048
2,856
8,703
2,092
3,563
1,530
958
14,306
970
8,411
4,480
17,499
3,077
25,570

5,608
1,125
6,057
2,062
102
887
2,459
95
2,512
120
1,137
4,885
1,114
1,256
1,431
908
197
1,101
1
387

100

1,453
693
3,611
150
125
5,026
520
743
1,371 |

""366"

1,586

231

269
1,744

465
165

578
6,768
5,611
3,336
52
96
771
734
646
2,093
661
846
203
283
262
446
1
76
6,540
235
1,842
3,476
3,172

17
4,893

517
165
727
2,106
120

75
555

777
3,197
777
75

197
500
2,284
43

84,149
2,428
886
36,188
145,697
18,500
23,852
7,308
2,914
20,420
2,245
15,066
7,057
4,090
20,065
4,557
8,937
6,037
14,202
5,548
4,561
8,319
2,168
4,276
9,693
11,417
5,331
2,125
9,058
9,595
5,8*5
28,95C
1,844
17,776
33,808
28,232
2,009
2,786
1,350
3,488
10,878
1,853
11,091
3,836
9,006
2,354
4,084
1,531
1,034
20,846
1,205
10,450
8,456
22,955
3,094

50

REPORT OF THE COMPTROLLER OF THE CURRENCY"

United States Government securities owned by national banks, June 30, 1980—Con.
{In thousands of dollars]
Bonds (including
bonds deposited to
secure circulation)

Location

I
Certificates
Treasury ofindebtednotes

Treasury
bills

TotaJ

OTHER RESERVE CITIES—continued

Los Angeles
Oakland
San Francisco
Ogden
Salt Lake City
Total other reserve cities
Total all reserve cities

__.

59,962
3,199
183, 362
551
4,179
880,577
1,436,324

17, 751

7,520

17,254
332
358
121,225
187,152

25,936

1,490

1,687
1,687

86,723
3,199
226,552
883
4,537
1,732,494

COUNTRY BANKS

Maine
New Hampshire
Vermont... _
Massachusetts
Rhode Island
Connecticut
Total New England States.
New York
New Jersey
Pennsylvania
Delaware
.
Maryland
Total Eastern States
VirginiaWest 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 StatesNorth DakotaSouth DakotaNebraska
Kansas.
Montana
Wyoming
Colorado
New Mexico...
Oklahoma
Total Western States.Washington.
On
Ca
Idaho..
Utah.,..
NevadaArizona..
Total Pacific States
Alaska (nqnmember banks)
The Territory of Hawaii (nonmember
bank)
Total (nonmember banks)
Total country banks
Total
United States



7,842
9,504
5,121
37,005
4,896
20, 876
85:244
72, 73i
52,116
119,498
1,736
6,171
252, 256
22,
14,857
7,895
6,371
7,371
17,236
11,147
3,787
3,771
40, 536
7,401
13, 503
12,804
168, 777
42,198
30, 427
47, 599
20,340
22, 671
21, 707
19, 543
13,889
218,374
5,884
6,878
11,683
14,672
8,141
4,228
9,588
4,300
21,532
86,906
14,012
8,925
21, 796
3.774
1,069
2,018
5,258
56,852 |

32,188
1, 593
1,109
272
639
569
3,916
566
373
3
6,893
1,348
422
75
17, 783
2,63.0
3,042
7,125
2, 874
2,615
3, 977
2,280
2, 111
26, 654
2, 255
1,651
1,234
L713
2,261
1,046
964
1,096
5,545
17, 765
1,673
2,059
2,619
1,674
150
11
2,253
10,439

4,456
5,510
873,919 \
2,310,243 i

33
83
116,693
303,845

1,347
371
133
6,191
510
3, 229
11,781
6,539
9, 259
15, 244
278

916
4,941
2,138
1,966
43
9,088
152
100
417
64
230
2,180
1,055
235
160
2,512
521
94
310
8,030 i
149
366
2,736
1,065
564
1,044
385
535
6,844 j
78
94
531
196
327
78
181
215
271
1,971
482
636
41
15
25
145
2.177

137,339

59

9,189
9,908
5,277
44,122
5,406
25,021
98,923
84, 215
63,572
136,708
2,014
7,082

59

49
248
140

439
"264

283

42

42

827
2,514

23,850
16,066
8,584
7,074
8,170
23,332
12,763
4,444
4,182"
50,081
9,270
14,019
13,189
195,029
44, S
33,835
57,724
24,279
25,850
26, 747
22,208
16, 535
252,155
8,220
8^623
13,448
16,581
10,730
5,352
10,733
5,611
27,348
106,646
16,518
11,466
25,093
5, 489
1,234
2,054
7,656
69, 51Q
1,104

2,753,941

REPORT OF THE COMPTBOLIJER OF THE CURRENCY

51

INVESTMENTS OF NATIONAL BANKS

The tables following disclose a summary of the investments of
national banks in United States Government and other bonds and
securities held June 29, 1929, and June 30, 1930, and a detailed classification by reserve cities and States of bonds and securities other than
United States owned on June 30, 1930. (In the appendix of thte
report appear also tables which disclose, by reserve cities and States,
similar classifications of bonds and securities other than United
States owned by national banks on December 31, 1929, March 27
and September 24, 1930.)
[In thousands of dollars]
June 29,1&29 June 30,193$
Domestic securities:
State, cmmij, and municipal bonds
Railroad bonds
_
Other public service corporation bonds
All other bonds
-.
Stock of Federal Eeserve Bank...
Stock of other corporations
Collateral trust and other corporation notes.->
_
Municipal warrants
_
AH other, including claims, judgments, e t c .
Foreign securities:
Government bonds
Other foreign securities, including bonds of municipalities, etc.
Total
United States Government securities
Total bonds and securities of all classes




757,207
592,203
694,412
881,355
93,012
100,459
119, 010
81,888

791,954
660,628
783,788
891,6%
100,780
111, 5%
122,508
104,3&1
39, im

244,269
249,807

267,816
259,890

3,852,675
2,803,860

4,134,290
2,733,943;

6,656,535

6,888,171

United States Government, domestic, and foreign bonds, securities, etc*, owned by national banks June 80, 1930

to

[In thousands of dollars]
Foreign securities

Domestic securities
United
States
Other
Govern- State,
public
ment
county, Railroad service All other
securi*
and
ties
munici- bonds corpora- bonds
tion
pal bonds
bonds

Location

Other
All
foreign
Collateral
other,
securities,
Stock of Stock of trust and Munici- includ- Governother
Federal other
ing
ment including
pal
reserve corpora- corpora- warrants claims, bonds bonds of
municition
judgtions
banks
palities,
notes
ments,
etc.
etc.

Total
bonds,
stocks,
securiTotal,
ties, etc., all bonds
and seother
curities
than
United
States

CENTRAL RESERVE CITIES

New York_
Chicago

605, 585
39,061

121, 790
5,652

45,037
6,823

78,501
11,674

23,860
2,852

24,518
1,214

24,167
1,653

2,260
27,204

5,209
575

35,627
1,794

31,341
3,161

445,597
69,517

1,051,182
108,578

644,646

Total central reserve cities

53,287
6,915
60,202

127,442

51,860

90,175

26,712

25,732

25,820

29,464

5,784

37,421

34,502

515,114

1,159,760

84,149
2,428
886
36,188
145, 697
18,500
23,852
7,308
2,914
20,420
2,245
15,066
7,057
4,090
20,065
4,557
8,937
6,037
14, 202
5,548
4,561
8,319
2,168
4,276
9,693

10, 707
746
25
12, 922
5,139
3, 633
926
636
451
1,160
262
4,842
1,146
127
4,430
580
3,702
883
1,740
819
801
319
2,981
749
4,736

9,929
2,367
502
14, 916
34,121
2,368
2,054
2,482

21,354
3,099
550
17, 285
20,620
1,125
2,773
644

16,118
2,108
800

8,087

2,826
6

5,216
20,715
3, 267
592
116

11
325

391
390
18
3

5,125
516
260
5,565
4,955
1,238
180
83
2
141
495
120
68

8,596
574
338
3,889
4,128
1,335
692
9

I935
,95

245
93

1,150
8
188

105
1,128
162
184
2,069
230
181
886

218
790
134
295
3,038
593
£14
942

11,724
206
67
1,964
2,371
131
163
1,198
1,155
402
234
7
476
91
1,241
332
70
14
1,020
381
9
64
74
102
40

3,825
76

1 770
,
447
1,189
210

4,343
339
34
3,643
2,067
444
591
233
117
364
306
251
262
150
495
79
214
90
479
214
63
323
267
329
410

102,634
10,037
2,576
80,365
124,014
16, 828
12,779
7,402
1,831
9,474
3,373
11,068
3,481
810
12,694
2,945
5,786
3,354
9,831
2,900
3,023
11,141
5,757
4,841
13,513

OTHER RESERVE CITIES

Boston
Brooklyn and Bronx
Buffalo.
Philadelphia
Pittsburgh....
Baltimore
Washington
Eichmond
Charlotte
Atlanta
Savannah
Jacksonville
Birmingham..
-._
New Orleans
Dallas
ElPaso__
Fort Worth
Galveston
Houston
_
San Antonio
Waco
Louisville
Memphis
Nashville
Cincinnati...

1

_
_.

_




-

751
435

14, 563
29,183
3,269
4,805
2,001
105
3,624
1,118
3,350
330
442
3,192
508
1,330
1,432
3,080
609
1,397
3,613
938
2,132
3,241

96

176
260

1,076

60
1,263
178
30
400
79
16
1,131

87
170
40
79
5
46
33
1,221

1
6
1
184
107

72
415
102
187

730
66

67
175
605
294
109
71
359
505
1,385

212
544
75
144
467
303
133
646

186,783
12,465
3,462
116,553
269, 711
35,328
36,631
14, 710
4,745
29,894
5,618
26,134
10,538
4,900
32,759
7,502
14,723
9,391
24,033
8,448
7,584
19,460
7,925
9,117
23,208

Cleveland
_.'
Columbus
Toledo
—
Indianapolis. _
Chicago
Peoria
Detroit
Grand Rapids.
Milwaukee.
_
Minneapolis. _
St. Paul
Cedar Rapids
DesMoines
Dubuque
Sioux City
Kansas City, M o . .
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
Wichita
Helena
Denver
Pueblo
Oklahoma City
Tulsa
Seattle
_
Spokane.
Portland
Los Angeles
Oakland
San Francisco
Ogden
Salt Lake City

11,417
5,331
2,125
9,058
9,595
5,845
28,950
1,844
17, 776
33,806
28,232
2,009
2,786
1,350
3,488
10,878
1,853
11,091
3,836
9,006
2,354
4,084
1, 531
1,034
20,846
1,205
10,450
8,456
22,955
3,094
30,506
86,723
3,199
226,552
883
4,537

767
3,212
241
450
9,080
1,258
3,782
174
3,743
6,219
964
949
2,793
1,487
574
6,928
157
8,472
323
4,846
340
2,299
6,457
61
6,196
1,618
10,420
2,484
1,634
375
12, 523
50, 534
3,969
63,768
36
1,987

1,129
1,472
1,088
280
4,125
862
356
207
877
5,890
2,412
518
693
485
528
2,103
206
2,811
333
6,116
39
37
155
361
2,624
662
65
407
5,873
76
3,405
1,397
24
2,142
149
902

789
1,406
615
1,485
8,373
1,522
1,181
524
3,189
1,487
888
1,403
1,796
787
687
444
94
4,326
383
3,060
96
29
14
132
2,263
1,198
195
523
2,489
52
5,258
5,545
173
9,884
49
591

3,936
3,327
689
1,240
6,558
1,895
1,758
454
2,852
3,771
1,755
1,311
1,862
1,023
1,483
1,495
277
6,484
1,204
1,430
170
218
136
446
2,603
981
2,066
2,417
3,755
195
2,568
20,033
280
3,498
321
1,080

333
316
69
354
357
201
840
90
632
615
348
55
126
30
87
344
61
706
64
240
39
54
111
25
311
53
265
300
517
71
295
2,140
116
4,063
18
95

Total other reserve cities

1,087,848

285,582

128,447

141,516

188, 858

30,448

Total all reserve cities..

1,732,494

345, 784

255,889

193,376

279,033

9,189
9,908
5,277
44,122
5,406
25,021

3,293
723
581
4,506
441
2,683

6,522
2,498
2,526
18,083
1,298
10,684

19,222
7,825
6,426
49,736
5,560
12,057

41,611

100,826

_.

...

_

1,289
17
45
837
1,159
210
95
992
158
1
4
794

376
119
109
2,283
29
1,316

401

776
793

109

5

248
234

510
146
5
379
41
60
30

18
86

439
971
66
351
1,400
424
647
337
824
1,180
1,015
233
254
114
573
796
325
1,619
380
1,322
9
151
61
322
520
225
388
597
1,004
311
2,864
11,201
111
5,385
65
446

294
685
140
1,152
2,510
882
252
67
571
1,668
1,415
66
268

9,753
11,406
3,072
6,768
36,767
7,078
11,514
1,989
13,854
21,018
9,064
4,773
8,672
3,938
4,605
17,675
1,861
34,551
3,113
18,602
772
3,208
7,452
1,724
17,386
5,078
17,006
11,187
16,074
1,313
28,409
94,006
4,769
97,413
1,034
6,356

21,170
16,737
5,197
15,826
46,362
12,923
40,464
3 833
31,630
54,824
37,296
6,782
11,458
5,288
8,093
28,553
3,714
45,642
6,949
27,508
3,126
7,292
8,983
2,758
38,232
6,283
27,456
19,643
39,029
4,407
58,915
180,729
7,968
323,965
1,917
10,893

257
25
3

12
148
28
59
53
146
29
15
308
512
40
38
138
2,368
4,253
278
51
43
528
1
1,305

53
146
41
641
4
14
64
4
1
8
600
4
325
18
2
10
10
107
4
178

48,164

44,044

23,987

8,054

59,978

46,539 1,005,617 2,093,465

57,160

73,896

69,864

53,451

13,838

97,399

81,041 1,520,731 3,253,225

13,103
4,325
5,345
37, 111
2,818
8,019

441
326
255
1,799
307
1,261

275
554
145
2,803
316
662

1,960
336
1,950
2,805
1,160
857

63
190
20

181
1
23
214
519

5,491
1,084
2,946
9,204
701
3,950

5,280
1,249
2,420
11,376
971
3,898

55,831
18,921
22,807
137,657
13,572
44,590

65,020
28,829
28,084
181,779
18,978
69,611

70,721

4,389

4,755

9,068

273

938

23,376

25,194

293,378

392,301

164
4,901
426
7,310
72
55
21
475
4
773
48
77
43
488
2,681
342
1,147

10
4
29
1,026
15
226
15
32
743
99
16
61

24

298
486
186
1,103
189
1,164
72
5
298
1,013
96
141
124
461
95
1,400
1,776
66
4,506
54
84

COUNTRY BANKS

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




98,923

12,227

United States Government, domestic, and foreign bonds, securities, etc., owned by national banks June SO, 1980—Continued
[In thousands of dollars]
Domestic securities
United
States
Government
securities

Location

Foreign securities

All
other,
Other
Collateral1
State,
public
Stock of Stock of trust and \ Munici- includcounty, Railroad service All other Federal other
ing
other ! pal
and
bonds corpora- bonds reserve corpora- corpora- warrants claims,
municition
tion
banks
tions
judgpal bonds
bonds
notes
ments,
etc.

Other
foreign
securities,
Govern- including
ment
bonds bonds of
munici-

Total
bonds,
stocks,
Total,
securities, etc., all bonds
and seother
curities
than
United
States

etc.

COUNTRY BANKS—continued
84,215
63,572
136,708
2,014
7,082

Total Eastern States..
Virginia
West Virginia....
North Carolina..
South Carolina...

23,850
16,066
8,584
7,074
8,170
23,332
12,768
4,444
4,182
50,081
9,270
14,019
13,189

Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky.
Tennessee

3

3

,

92,506
58,917
109,245
1,134
5,784

110,914
59,831
129,173
1,725
10,500

48,723
131,453
1,681
11,328

4,439
3,455
7,797
131
416

6,281
4,143
4,295
26
310

7,100
2.239
11,849
289
655

2,044
2,407
727
87
95

2,045
495
1,505
2
250

31,905
17,030
32,403
649
2,400

39,953
16,116
33,765
368
3,479

267,586

312,143

280,075

16,238

15,055

22,132

5,360

4,297

84,387

93,681 1,220,338 1.513,929

4,671
1,467
3,613
3,206
513
11,637
5,679
8,865
2,345
11,449
5,536
1,912
3,047

2,146
3,119
178
517
431
3,671
1,387
538
337
1,179
723
3,259
1,170

2,975
4,542
374
1,135
1,106

9,447
8,055
1,643
2,715
1,056

128
266
3

5,417
2,363
1,476
8,412
2,106
7,659
3,839

1,136
1,175
300
342
220
2,709
320
133
624
765
114
162
620

1,801
626
10

2,099
897
644
1,696
574
4,985
1,573

1,330
758
488
298
380
495
697
290
308
2,143
287
710
673

557
493
19
56
128
178
691
147
67
978
376
768
421

1,729
1,804
198
344
307
1,075
867
691
211
991
475
1,755
1,062

1,712
1,421
318
235
365
933
1.374
598
127
1,019
450
1,360
758

27,632
23,726
7,144
8,848
4,854
29,032
19,388
14,675
6,477
32,734
11,442
23,459
14,027

51,482
39,792
15,728
15,922
13,054
52,364
32,156
19,119
10,659
82,815
20,712
37,478
27,216

7,537

4,879

223,^68
=====
95,334
59,118
120,892
87,652
70,866
78,137

418,497

145
7,046
300
286
5,796

11,509
=
7,887
3,784
6,371
5,080
4,338
4,749

10,670

554
865
5,131
493
, 397
958

30
333
199
365 I
492
72
81
202
136
442
3,660
19
782
336
553
32
832

| 195,029

Total Southern States
Ohio
I
d
Indiana i
Illinois
Michigan
Wisconsin..
M

44,895
40,710
29,722
468
3,589
119,384

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

8




3

63,940 I

18,655

25,963

58,627

8,857

8,620 I 4,211

I

26,843
6,804
25,889
22,975
12,097
20,651

11,311
8,828
10,181
7,182
5,541
8,266

11,281
15,956
22,772
20,323
21,114
11,296

23,499
14,360
29,585
21,936
18,793
19,687

1,999
1,250
1,969
935
957
870

1,519
2,361
3,685
1,455
2,792
1.715

44,977
5
57,724
24,279
25,850
26,747

1,237
1,276
1,488
505
151

8,978
3,528
6,987
5,485
4,046

428,972
254,066
491,934
6,560
38,806

513,187
317,638
628,642
8,574
45,888

140,311
92,953
178,616
111,931
96,716
104,884

22,208
16,535

5,169
7,557

4,297
1,765

9,326
3,461

10,475
5,279

684
401

725
207

448
48

986
370

1,552
251

2,884
946

2,392
1,142

38,938
21,427

61,146
37,962

Total Middle Western States. 252,155

127,985

57,371

115, 529

143, 614

9,065

6,484

14,023

15,497

10,201

36,039

36,556

572,364

824,519

8,220
8,623
13,448
16,581
10,730
5,352
10,733
5,611
27,348

2,482
6,340
2,446
12,409
3,296
1,662
4,711
1,935
21,391

1,285
1,002
1,113
514
2,564
420
1,474
415

2,699
2,293
1,958
775
2,748
381

246
224
393
594
216
119
320
89

27
25
22
228
49
22
467
23

179
128
340
146
132

913

557

173

230

1,147
974
771
2,640
1,291
465
991
21
7,203

716
279
239
336
161
283
368
61
1,356

1,476
814
1,396
1,155
1,634
131
943
70
1,162

1,740
782
1, 540
484
1,759
174
595
41

462

4,412
4,565
4,113
2,874
4,211
1 644
5,278
3,077
3,730

538

16,409
17,426
14,331
22,155
18,061
5 301
18,255
6,082
37,715

24,629
26,049
27,779
38,736
28,791
10 653
28 988
11,693
65,063

106, 646

56, 672

9,249

14,867

33,904

2,758

1,036

1,513

15, 503

3,799

8,781

7,653

155,735

262,381

Washington
Oregon
California
_..-..^Idaho
Utah
Nevada
Arizona..^

16, 518
11,466
25, 093
5,489
1,234
2,054
7i 656

12,348
6,782
38,524
1,764

4,914
646
2,925

4,798
1,823
12,493

7,122
2,434
11,500

455
298
1,249

197
29

885
70

1,408
1,847

188
210

457

521
117
405
249

616
141
297
361

846
232
562
729

116
33
65
97

627
130

1,223

20

482
51
161
19

229
19
109
79

37,255
15,728
72, 612
6,071

31
25
884

348
89
1
20
397

2,091
559
1.946

2,028
1,576

908
55
9
88

2,849
1,030
1, 635

3,760
4,411

53,773
27,194
97,705
11,560
2,192
5,814
12,067

Total Pacific States

69,510

63,346

9,777

20,529

23,425

2,313

1,732

5,875

1,253

6,227

5,032

140,795

210,305

1,104

52

112

180

212

25

31

50

63

725

1,829

4,489

2,564

378

375

2,014

854

48

6,696

11,185

lows
Missouri

^ North Dakota
S© South Dakota
s& Nebraska
1°

"ITivppfiR

1 Montana .
%% Wyoming
i Colorado
New Mexico
1 Oklahoma

.

_ _

_

Total Western States

_Alaskft (ponmfvmhfir hq/nks)
The Territory of Hawaii (nonmember bank)

324

z, 00.6

218

1,286

226
132

463

958

5,593

2,616

490

555

2,226

463

25

885

7,421

446,170

404,739

590,412

612,592

43, 620

37, 699

52,704

50,930

25,367

170,417

178,849 2, 613,499

791,954

660, 628

783,788

891,625

100,780

111, 595

122,568

104,381

39,205

267, 816

259,890 4,134,230

O

o

3,634,946

Total United States... . .„_- 2, 753,941

ffl

13,014

1,021,447

2.

6,888,171

Total (nonmember banks)
Total country banks..




98

63

O

I
o.

56

BEPORT OF THE COMPTROLLER OF THE CURRENCY

PER CAPITA DEMAND AND TIME AND SAVINGS DEPOSITS IN ALL
REPORTING BANKS

Statement showing the population, amount of demand and time
deposits, per capita demand and time deposits, amount of saTings
deposits, and per capita savings deposits reported by all banks in
each State, the District of Columbia, Alaska, and insular possessions
follows:
Per capita demand and time and savings deposits in all reporting banks June SO
1980
Population
(approximate)

Location

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

_

__

....

Total New England States
New York
New Jersey
Pennsylvania
_
Delaware
_
Maryland
District of Columbia

8,190,000
..._

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

•_
_

Total Southern States

_

___
___

Total Middle Western States
North Dakota
South Dakota
Nebraska
_
Kansas
Montana
Wyoming. _
Colorado
New Mexico
Oklahoma

_
_._

Total Western States

Per capita savings deposits

$402,221
269,030
232,166
3,934,395
504,612
1,237, G97

$502.15
578.56
646. 70
923. 57
730.26
766.85

$318,256
225,520
204,585
2,726, 799
369,350
904,854

6,580,121

803.43

4,749,364

579.90

6,926, 450
1,338,013
2,704, 217
61,056
486, 512
100,120

546.59
330.37
279.65
254.40
297.56
204.74

$397.32
484. m
569.87
640.09
534.52
560.63

_

__

12,672,000
4,050,000
9,670, 000
240,000
1,635,000
489,000

15, 544,016 1, 226. 64
2,256, 759
557. 22
4,834,212
499. 92
136,673
569. 47
790, 963
483. 77
242,414
495.73

28,756,000

_

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri

801,000
465,000
359,000
4, 260,000
691,000
1, 614,000

Per capDemand
ita deSavings deand time
1
mand
posits 2 (000
deposits
omitted)
(000 omitted) and time
deposits

23,805,037

827.83

11,616,368

403.96

453,550
311,461
315,391
156,368
294, 727
222,227
227, 788
194,029
374,483
945,881
182,690
419, 602
408, 261

186. 80
180.04
99.02
89.97
101.32
150.15
85.96
96.53
178.16
161. 69
97.85
159. 79
156.06

247, 306
150,417
145, 271
75, 336
133,223
74,069
98,030
93,053
143, 715
216,058
72,150
146, 860
182,596

101.86
86.95
45.61
43.85
45.80
50.05
36.99
46.30
68.37
36.93
38.64
55.93
69.80

2,428, 000
1, 730, 000
3,185,000
1,738,000
2,909,000
1,480,000
2,650,000
2,010,000
% 102,000
5,850,000
1,867,000
2, 626,000
2,616,000
33,191,000
6, 663, 000
3, 233,000
7, 637, 000
4, 876,000
2,938,000
2, 571,000
2,470,000
3,625,000

4, 506, 458

135.77

1, 778,084

53.57

2,623, 613
664, 845
3,467.733
1,887,448
875,101
879,312
783,818
1,159,042

393. 76
205.64
454. 07
387.09
297.86
342.01
317. 34
319. 74

1,476, 650
275,435
1,426, 536
1,026, 384
504,809
491, 963
461, 781
381, 742

221. 62
85.19
186.79
210.50
171.82
191.35
186.96
105.31

12,340,912

362.83

6,045, 300

177.73

680,000
698,000
1,386, 000
1,880,000
536,000
225,000
1,037,000
428,000
2,403,000

103, 612
137, 635
339, 294
375, 234
142, 371
56,478
269,087
42, 889
399,960

152. 37
197.18
244.80
199. 59
265. 62
251. 01
259.49
100. 21
166.44

54,460
61, 384
131,250
96,121
63, 731
22, 791
108,079
10, 501
79,545

80.09
87.94
94.70
51.13
118.90
101.29
104.22
24.54
33.10

9,273,000

1,866, 560

201. 29

627,862

67.71

34,013,000

1 Includes postal savings, Christmas savings, and other savings reported in column 4.
2 Represents deposits evidenced by savings pass books and time certificates of deposit. (Does not include postal savings or Christmas savings accounts.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

57

Per capita demand and time and savings deposits in all reporting banks June 30,

1930— Continued
I

Location

Washington.
Oregon
California...
Idaho
Utah
Nevada.
Arizona
Total Pacific States..
Alaska
The Territory of HawaiiPorto Rico..
Philippines,.
Total possessions

Population
(approximate)

Savings deposits (000
omitted)

Per capita savings deposits

1,565,000
955,000
5, 730,000
448,000
505,000
91,000
439,000

$447,996
258,118
3, 233,499
82,432
129, 619
38,154
80,774

$286.26
270.28
564. 31
184.00
256. 67
419. 27
184.00

$221,563
117,856
1,866,779
31,132
68,038
20,997
31,195

$141.57
123.41
325.79
69.49
134.73
230.74
71.06

9,733,000

4,270,592

438.77

2,357,560

242.22

59, 000
371, 000
1,550,000
11,325,000

11,840
87, 273
23, 754
71, 330

200.68
235. 24
15.33
6.30

5,538
38,537
17,832

93.86
103.87
5.87
1.57

13, 305,000

194,197

14.60

71,005

5.34

53,563,877

392.52

27,245, 543

Total United States and posses- I
sions
.! 136,461,000




Per capDemand
ita deand time
mand
deposits
(000 omitted) and time
deposits

199.

Savings deposits and depositors in all reporting banks in the United States and possessions, according to class of banks, on or about June SO, 19S0
[Deposits in thousands of dollars]
State (commercial) banks
Location

Deposits
evidenced Time cerby savings tificates of
deposit
pass books

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut.-

Deposits
Total
evidenced Time cersavings 1 Depositors s by savings tificates of
deposits
deposit
pass books

_

110,350

..
2,592

Total New England
States

308

6,414

2,900

67,995
230,381
152,558
151,335

2,617
73
26,745
25,137
8,011

Private banks

Deposits
Total
evidenced Time cersavings l Depositors 2 by savings tificates of
deposits
deposit
pass books
112,967
73
67,995
257,126
177, 695
159,346

3137,377
520,369
188,887
468,257

Total
savings Depositors J
deposits J

273,764

6,129

19

6,148

15,950

2,592

Total Eastern States...

_

__ __

.

Total Southern S t a t e s Ohio
Indiana..




308

2,900

6,414

712,619

62,583

775, 202

1,588,654

6,129

19

6,148

15,950

325,995
41,045
231,986
7,427
78,335

New York
New Jersey
Pennsylvania
Delaware
_.
Maryland
District of Columbia
Virginia
West Virginia
North Carolina..
South Carolina
Georgia
Florida
Alabama
Mississippi..
Louisiana
Texas
Arkansas
Kentucky
Tennessee

Loan and trust companies

23,191
866
18,269
268
3,114

349,186
41,911
250,255
7,695
81,449

847,930
101,869
564, 541
16,405
250,035

911,386
514,366
812,993
18,734
108,057
26,884

114, 225
15,085
87,363
298
4,779
1,737

1,025,611
529,451
900,356
19,032
112,836
28,621

1,630,010
1,171, 598
1,871,490
48,223
273,840
86,854

7,046
2,136
1,943

68~

7,114
2,136
1,948

»114,154
6,609
5,143

684,788

45,708

730,496

1,780,780

2,392,420

223,487

2,615,907

5,082,015

11,125

73

11,198

125,906

74 518
53,391
60,073
34,302
32,005
11,375
28,981
32,412
89,027
12,325
27,832
60,562
47,416

30,572
24,341
39,366
9,908
24,190
4,070

34,846

105,090
77,732
99,439
44,210
56,195
15,445
28,981
59,426
120,372
40,698
44,747
60,562
82,262

564,219

270,940

835,159

1,946,969

957,688
29,315

141,297
33,083

1- nflS 9R5
62,398

2,439,530
3 95,835

27,014
31,345
28,373
16,915

3

201,399
205,793
320,450
3
133,991
127,868
37,471
88,030
3
72,780
"178,054
86,807
78,975
258,662
3
156,689

5

75

4,505

3,274

14,499

7,779

314
24
209
397

4,505
22,697

3,274
12,639

75~

160

314
24
209

27

434

424

335

14,499

7,779
35,336

~~

3

681

365

1,046

929

74,200

2,692
1,140

4,573
4,995

7,265
6,135

16,454
«3,726

00

933 480
659,582
141,531
50,538
28,396
139,269

173,210
81,830
148,395
129,603
67,118

1,106,690
741,412
289,926
180,141
95,514
139,269

2,939, 799

774,536

3, 714,335

9,904,031

1,774
6,058
8,433
10, 539
17, 711
3,474
8,305
1,010
4,854

19,087
27,037
64,754
37,130
12,103
6,813
5,107
1,097
13, 002

20,861
33,095
73,187
47,669
29,814
10, 287
13, 412
2,107
17,856

16 7 3 4

37,' 521
80,423
133,145
42,008
34,144
a
20,661
3,527
s 27, 561

186,130

Michigan

Wisconsin
^Minnfisota

Iowa
Missouri . _ .. _ _
_
Total Middle Western
States
North Dakota
South Dakota
Nebraska
Kansas
IVTontana,
WvoTnini?

Colorado

New Mexico
Oklahoma
Total Western StatesWashington
Oregon
California
Idaho
Utah
Nevada
Arizona

Total Pacific States
Alaska
The Territory of Hawaii. . . .
Porto Rico
Philippines
Total- possessions
Total United States
and possessions

1

3,754, 254
* 2,219,351
839,019
285, 556
113, 808
3156, 678

Illinois

6

62,158

3

248,288

395,724

16,414
8,197

70,636
32,391

7,268
6,009
624
2,641

16, 215
35, 536
7,775
22,943

3

144, 343

41,153

3,278
17, 877
8,772
13,716

484
8,636
326
4,116

43, 643

13, 562

57,205

1,332,667

5,773,879

14, 815, 951

5,258
21,656
60,673
s 19,827
3 162,505

2,009

570

2,579

10,079

796
*9

5,874

6,670
9

6,141
»10

30,739

225,859

344,119

6,646

16, 012

22,658

36,410

KQ4

1,103

159
726

753
1,829

649
3,536

18

488

506

222

542

3 1,524

2,066

8,764

2
28

130
132

132
160

27
250

11,484
1,124

569
253

12,053
1,377

3 28 567
2,984

18

18

14, 847

3,231

18, 078

44,500

223

223

203, 588

4,441, 542

5,527
7,651
26,662
6,235
144,448

195.120
'••

3,944
3,671
8,354
2,131

196,653
162,840

8,947
29,527
7,151
20,302

1,583
3,980
18,308
4,104
«144 448

3 54,222
24,194

3

48

1

40,256
111, 242
10,749
56, 705

897
258

262
28

1,159
286

185, 496

578,445

1,155

513

1,668

17,429

3,762
26,513
9,098
17,832

5,066
98, 253
41,890
58,379

3, 320, 666

323,827

499

- -

16,996
3
433

e

•
3, 644, 49,3

r
7,091, 216

Excludes postal savings and Christmas savings accounts, etc,
Represents number of savings pass-book accounts,
Estima ed.
As of Oct. 4, 1929.
All time deposits.
Exclusive of postal savings depositors, the number of which & reported-and published in the 1929 report amounted to 310,001,
a




816

768

24, 629

17, 237

41,866

179,694

Savings deposits and depositors in all reporting banks in the United States and possessions, according to class of banks, on or about June
SO, 1980— Continued
[Deposits in thousands of dollars]
Stock savings banks
Location

Deposits
evidenced Time cerby savings tificates of
deposit
pass books

Mutual savings banks

Deposits
Total
evidenced Time cersavings l Depositors J by savings tificates of
deposit
deposits
pass books

Total all banks other than national

Deposits
Total
evidenced Time cersavings l Depositors * by savings tificates of
deposit
deposits
pass books

Total
savings Depositors'
deposits 1

26,745
25,445
8,030

225,659
201,714
162,402
2,350, 224
351, 062
816,417

507,240
312,259
245,359
3,475,224
393,135
1,408,735

-

112,692
201,641
94,407
2,093,098
170,467
650,923

112, 692
201,641
94,407
2, 093,098
17a 467
65a 923

233,476
312,259
3 107,982
2,954,855
197,834
924,528

223,042
201,641
162,402
2,323,479
325,617
808,387

England
.-

3,323,228

3, 323,228

4,730,934

4,044,568

62,910

4,107,478

6,341,952

New York
New Jersey. _. _ __ .
Pennsylvania
Delaware
Maryland
- __ _
"District of Columbia

4, 566,165
274,398
460,933
25,435
198,815

4, 566,165
274,398
460,933
25,435
198,815

5,256, 265
481, 591
555,981
48,727
328,623

5,810,592
856,648
1,507,855
51,596
385,207
47,830

137,484
15,951
105, 637
566
7,893
4,319

5,948,076
872,599
1,613,492
52,162
393,100
52,149

7,848,359
1,800,191
2,997,155
113,355
852,498
218,221

5, 525,746

5, 525, 746

6,671,187

8,659,728

271, 850

8,931,578

13,829,779

30, 572
24,341
39,366
10,222
24,214
7,914

34,846

105,165
77,732
99,439
44,524
56,219
23,803
35,222
61,956
12a 372
41,122
44,747
60,562
82,262

201,559
205,793
320,450
8
133,991
127,868
52,048
155,833
3 77,663
3
178,054
87,142
78,975
258,062
3
156,680

275,505

853,125

2,034,727

Main©
New Hampshire
Vermont .
M assachusetts
Rhode Island
Connecticut
Total New
States

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

--.

.

24,703

24,703

38,524

20,946

2,582

23,528

131,367

45, 649

2,582

48,231

169,891

74,593
53,391
60,073
34,302
32,005
15,889.
35, 222
34,586
89,027
12, 722
27,832
60,562
47,416

-

--

9
6,032
2,174

356

579
6,032
2,530

78
67,369
3 4,883

8,215

926

9,141

72,330

570

- -

Total Southern States-




577,620
—

•

•

•

2,617
73

27,370
31,345
28,400
16,915

Ohio
_._
Indiana..
Illinois
_'_• .
Michigan,
Wisconsin
Minnesota
„„_
Iowa___
Missouri

18,287

20,341

138,159

94,754

232,913

3 400,600

155,684

95,516

251, 200

420,941

136, 571
* 34, 820

8,382
71,408

._ _

3

8,382
71,411

21,330
138, 754

208,974

403

209,377

331,475

,.

Total Middle Western
States
North Dakota
South Dakota
Nebraska . .
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma

2,212

2,592, 555
3 208,581
3, 754,254
2, 255, 029
882,005
484,983
3 540, 376
3 319,193

3, 506,223

917,206

4,423, 429

11, 036,976

2,368
7,179
10,645
11,083
17, 739
3,474
19, 789
2,134
4,854

19,246
28,251
64,754
38,784
12, 235
6,813
5,676
1,368
13,002

21,614
35,430
75,399
49,867
29,974
10,287
25,465
3,502
17,856

17,383
41, 279
89,213
141,936
42,258
34,144
3 49, 228
6, 511
3 27, 561

190,129

269, 394

449, 513

109, 282
24,345
910,361
8,947
47, 635
12,089
20,302

316, 637
8,537
7,268
6,494
652
2,641

125,919
32,882
910,361
16,215
54,129
12, 741
22,943

290,389
163, 561
1, 539, 755
40,256
186,917
*15,337
56,705

1,132,961

42,229

1,175,190

2,292,920

484
8,636
326
4,116

3,762
26,513
9,098
17,832

5,066
98,253
41,890
» 58,379

13,562

57, 205

203, 588

18, 044, 008

1, 773, 391

19, 817, 399

36,189,455

8,790

. __
I

Total Western States
Washington
Oregon
California
Idaho
Utah
Nevada
..
Arizona

2,212

2,212

8,790

491
832,803

721
1,472, 012

55, 060
151
832, 803

340

17,211
4,680

223

17,434
4,680

563

855,408

1, 535, 567

55,060

93, 736

77, 558

77,558

67, 743

58, 679
3 4,155

854,845

Total Pacific States
Alaska
The Territory of Hawaii
Porto Rico
Philippines

2,212

1,214, 574
125.129
1,106,690
767,805
305,959
278,214
341,332
283, 726

43,643

762

108,324
21,260

146,270
50,717
173,210
87,106
152,066
137,960
169,877

3,278
17,877
8,772
13,716

17, 525

400

1, 068, 304
74,-412
933,480
680,699
153,893
140, 254
171,455
* 283, 726

79, 265

107,924
21,260

132, 618

132, 618

161, 479

,..
-.

Total possessions
Total United States
and possessions

1,066,605

99,587

1,166,192

2,207, 519

9,190,666

403

9,190, 969

11,895,075

1 Excludes postal savings and Christmas savings accounts, etc.
2 Represents number of savings pass-book accounts.
a Estimated.
* All time deposits.
* Exclusive of postal savings depositors, the cumber of which as reported and published in the 1929 report amounted to 310,001.




3

o
o
H
fcd

o

3
Q

Savings deposits and depositors in all reporting banks in the United Slates and possessions, according to class of banks, on or about June

80, 1980— Continued
[Deposits in thousands of dollars]
National banks
Deposits
evidenced Time cerby savings tificates of
deposit
pass books

Location

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island...
Connecticut

89,728
21,843
40,351
304,406
13,005
74,890

Total New England
States

Total
savings

2,869
1,963
1,832
72,169
5,283
13,547

92,597
23,806
42,183
376,575
18,288
88,437

Total all reporting banks

All banks other than national
Deposits
evidenced Time cerDepositors' by savings tificates of
deposit
pass books
167,204
57,657
82,275
717,947
13,995
175,646

223,042
201,641
162,402
2,323,479
325,617

Deposits
Total
evidenced Time cersavings l Depositors2 by savings tificates of
deposits
deposit
passbooks

26,745
25,445
8,030

225,659
201,714
162,402
2,350,224
351,062
816,417

507,240
312,259
245,359
3,475,224
393,135
1,408,735

312,770
223,484
202,753
2,627,885

2,617
73

883,277

Total
savings Depositors1
depositsl

5,486
2,036
1,832
98,914
30,728
21,577

318,256
225,520
204,585
2, 726,799
369,350
904,854

674,444
369,916
327,634
4,193,171
407,130
1,584,381

544,223

97,663

641,886

1,214,724

4,107,478

6,341,952

4,588,791

160,573

4,749,364

7,556,676

105,714
13,743
144,565
195
3,447
5,292

978,374
465,414
1,090,725
8,894
93,412
47,971

2,107,761
1,026,901
2,010,193
11,427
154,515

4,044,568 I
= = = = =
5,810,592
1,507,855
51,596
385,207
47,830

62,910

872,660
451,671
946,160
8,699
89,965
42,679

137,484
15,951
105,637
566

5,948,076
872,599
1,613,492
52,162
393,100
52,149

7,848,359
1,800,191
2,997,155
113,355
852,498
218,221

6,683,252
1,308,319
2,454,015
60,295
475,172
90,509

243,198
29,694
250,202
761
11,340
9,611

6,926,450
1,338,013
2,704,217
61,056
486,512
100,120

9,956,120
2,827,092 ,
5,007,348
124,782
1,007,013
312,120

2,411,834

272,956

2,684,790

5,404,696

8,659,728 I

271,850

8,931,578 13,829,779

11,071,562

544,806

11,616,368

19,234,475

37,092
18,696
19,264
10,233
8,026
7,983
10,289
6,543
30,369
9,658
38,867
42,446

67,664
43,037
58,630
14,911
34,447
15,940
7,983
37,659
37,888

...

105,049
53,989
26,568
26,123
66,771
42,240
54,825
20,808
16,800
144,567
17,745
47,431
57,888

26,573
38,867
77,292

247,306
150,417
145,271
75,336
133,222
74,069
98,030
93,053
143,715
216,058
72,150
146,860
182,596

499,530
373,842
429,425
195,645
390,950
210,268
308,995
126,946
214,967
400,646
120,822
378,707
350,774

Total Southern States.

680,804

244,155

519,660

1,778,084

4,001,517

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

_

,




4,319

34,846

105,165
77,732
99,439
44,524
56,219
23,803
35,222
61,956
120,372
41,122
44,747
60,562
82,262

201,559
205,793
320,450
133,991
127,868
52,048
155,833
3 77,663
3178,054
87,142
78,975
258,662
3156,689

179,642
107,380
86,641
60,425
98,776
58,129
90,047
55,394
105,827
157,289
45,577
107,993
105,304

275,505

853,125

2,034,727

1,258,424

30,572
24,341
39,366
10,222
24,214
7,914

31,097
23,343
174,936
27,403
86,298
100,334

297,971
168,049
108,975
61,654
263,082
158,220
153,162
49,283
36,913
313,504
41,847
120,045
194,085

74,593
53,391
60,073
34,302
32,005
15,889
35,222
34,586
89,027
12,722
27,832
60,562
47,416

924,959

1,966,790

577,620

142,141
72,685
45,832
30,812
77,004
50,266

27,370
31,345
28,400
16,915

Ohio
Indiana
Illinois
Michigan..
Wisconsin..
Minnesota.
Iowa
Missouri,..

187,233
92,886
232,957
220,913
130,244
137, 956
63,921
61,679

Total Middle Western j
States
1,127,789 !

74,843
57,420
86,889
37,666
68,606
75,793
56,528
36,337

262,076
150,306
319,846
258, 579
198,850
213,749
120,449

524,775
302,895
1,003,550
569,748
510,248
490,773
231,968
252,966

1,068,304
74,412
933,480
680,699
153,893
140,254
171,455
* 283, 726

146,270
50,717
173,210
87,106
152,066
137,960
169,877

917,206 I 4,423,429 j 11,036,976

1,214,574
125,129
1,106,690
767,805
278,214
341,332
283,726

2,592,555
3 208,581
3,754,254
2,255,029
882,005
484,983
3 540,376
s 319,193

221,113
108,137
260,099
124,772
220,672
213, 753
226,405
36,337

1,476,650
275,435
1,426,536
1,026,384
504,809
491,963
461,781
381,742

3,117,330
511,476
4,757,804
2,824,777
1,392,253
975,756
772,344
572,159

4,634,012 | 1,411,288

6,045,300

14,923,899

54,460
61,384
131,250
96,121
63,731
22,791
108,079
10,501
79,545

71,058
81,460
256,093
244,311

1,255,537
167,298
1,166,437
901,612
284,137
278,210
235,376
345,405

WashingtonOregon __.
California.--.
Idaho
...
Utah...
Nevada
Arizona

3,886,923

3,506,223

32,846
25,954
55,851
46,254
33,757
12,504
82,614
6,999
61,689

53,675
40,181
166,880
102,375
46,734
20,832
175,640
12,571
120,354

2,368
7,179
10,645
11,083
17,739
3,474
19,789
2,134
4,854

19,246
28,251
64,754
38,784
12,235
6,813
5,676
1,368
13,002

21,614
35,430
75,399
49,867
29,974
10,287
25,465
3,502
17,856

17,383
41,279
89,213
141,936
42,258
34,144
8 49,228
6,511
8 27,561

15,140
15,168
32,744
29,307
37,965
11,038
88,431
5,915
40,137

39,320
46,216
98,506
66,814
25,766
11,753
19,648
4,586
39,408

161,888

358,468

739,242

79,265

190,129

269,394

449,513

275,845

352,017

82,261
73,850
907,788
10,168
10,308
7,940
6,967

Total Western States...

1,621,871

20,074
17,965
33,752
28,030
13,531
4,940
13, 972
3,218
26,406

196,580

Montana
Wyoming....
Colorado
New Mexico.
Oklahoma

494,082

12,772
7,989
22,099
18,224
20,226
7,564
68,642
3,781
35,283

North DakotaSouth Dakota...
Nebraska

13,383
11,124
48,630
4,749
3,601
316
1,285

95,644
84,974
956,418
14,917
13,909
8,256
8,252

236,920
202,121
1,790,521
29,685
34,733
9,706
21,262

s 109,282
24,345
910,361
8,947
47,635
12,089
20,302

3

163,561
1,539,755
40,256
186,917
315,337
56,705

191,543
98,195
1,818,149
19,115
57,943
20,029
27,269

30,020
19,661

7,268
6,494
652
2,641

125,919
32,882
910,361
16,215
54,129
12, 741
22,943.

83,088! 1,182,370

16,637
8,537

12,017
10,095

54,976
224,868
19,082
147,915

627,862 I 1,188,755
221,563
117,856
1,866,779
31,132
20,997
31,195

527,309
365,682
3,330,276
69,941
221,650
25,043
77,967

2,324,948

1,132,961

42,229

1,175,190

2,292,920

2,232,243

125,317

2,357,560

249
3,380

1,776
12,024

2,674
44,692

3,278
17,877
8,772
13,716

484
8,636
326
4,116

3,762
26,513
9,098
17,832

5,066
98,253
41,890
58,379

4,805
26,521
8,772
13,716

733
12,016
326
4,116

5,538
38,537
9,098
17,832

7,740
142,945
41,890
58,379

_

10,171

3,629

13,800

47,366

43,643

13,562

57,205

203,588

53,814

17,191

71,005

250,954

Total United States
and possessions

6,070, 683

1,357,461

7,428,144 15,584,689

18,044,008

1,773,391

19,817,399 36,189,455

24,114,691

3,130,852

27,245,543

51,774,144

H3

W

o
o

3
o
tr1

4,617,868

1,527
8,644

3

1,099, 282

Total Pacific States
Alaska
_
The Territory of Hawaii
Porto Rico
Philippines
Total possessions-

i Excludes postal savings and Christmas savings accounts, etc*
* Represents number of savings pass book accounts.




»Estimated.
* All time deposits.

o

a

64

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

A comparative statement of the earnings, expenses, and dividends
of national banks for fiscal years ended June 30,, 1929 and 1930, and
statements showing the capital, surplus, and the earnings, expenses,
etc., of these associations in reserve cities and States and Federal
reserve districts June 30,1930, follow. (Similar tables for the 6-month
periods ended December 31, 1929, and June 30, 1930, are published
in the appendix of this report.)
Earnings, expenses, and dividends of national banks for the fiscal years ended June
80, 1929 and 19S0
[In thousands of dollars]
June 30,1929 i June 30, 1930
(7,536 banks) (7,252 banks)
Capital stock
_
Surplus
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:
J
Salaries and wages
Interest and discount on borrowed moneyInterest on bank deposits
Interest on demand deposits
_..
Interest on time deposits
Taxes
_
Other expenses

1,627,375 I
1,479,052 !
222,672
894,032
320,416
22,862
18,069
12,439

299,042
23,140
18,266
13,535

20,583
35,085
100,103

868
22,765
41,733
104,144

1,424,485 I
271,805
35,548
46,462
126,742
281,012
65,967
159,346

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.




1,743,974
1,591,339
237,029

1,427,341
276,089
27,671
42,119
128,719
287,184
66,123

171,161
999,066

437,603

428,275

18, U9
7,828
9,666

15,680
7,195
8,746

473,246

459,896

86,815
43,458
25,132
240
15,797

103,817
61,371
28,803
268
19,376

171,442

213,635

301,804

246,261

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1980 l
[In thousands of dollars]
Gross earnings
fcri

Number of
banks

Location

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

-

,
,

Total New England States
New York._
Brooklyn and Bronx
Buffalo
New York City
New Jersey
Pennsylvania
Philadelphia
Pittsburgh
Delaware
Maryland
_
Baltimore
Washington, D. C
Total Eastern States

Capital

Surplus

Capital
and surplus

52
56
45
142
10
10
62

7,370
5,725
5,160
30,426
82,857
4,520
21, 412

7,380
5,412
3,350
29,325
61,350
5,730
20,602

14,750
11,137
8,510
59,751
144, 207
10,250
42,014

377

157,470

133,149

523
10
3
20
297
810
24
11
16
71
6
12

72,027
6,650
750
356, 582
56,610
99, 586
37,051
28,450
1,648
5,709
7,400
10,775

73,057
4,635
375
437,225
57,997
160,811
84,318
40,450
2,730
8,116
7,400
8,625

1,803

683,238

885,739

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

Interest on Domestic exbalchange
ances and colwith
other lection
banks charges

4,465
2,736
2,474
17,650
36,775
2,036
11,782

3,361
1,294
1,465
8,737
6,191
857
3,112

90
59
33
225
858
27
189

290,619

77,918

25,017

145,084
11,285
1,125
793,807
114, 607
260,397
121,369
68,900
4,378
13, 825
14,800
19,400

41,998
1,587
329
131,156
33, 578
54,358
27, 763
14,044
753
3,995
4,754
5,583

26,182
532
131
39,130
15,806
32, 221
5,336
9,391
463
2,435
1,277
1,425

1,568,977

319,898

134,329

Commissions and
earnings
from inForeign surance Trust Profits Other Total
on
exchange premi- depart- securi- earngross
depart- ums and ment
ties
ings earnings
the negoment
sold
tiation of
realestate
loans

20
486
4
21

40
23
27
308
1,264
9
759

507
198
172
1,433
2,013
123
519

179
292
185
1,548
4,883
71
898

562

539

2,430

4,965

463
10
3
3,847
286
489
219
51
5
25
27
38

18
2

50
39
32
212
122
12
95

1,481
706
30
3
434
409
1,039
582
398
10
63
89
132

7,171
42
71
775
172

3,895

5,463

8,273

6
2

24

5

8
1

15
7
38

|

O
^
^
H
O
O

- " - g
8,698
4,643
4,388

hj
H
=
W

30,133
52,592
3.139
17,375

2
r
C
g

8,056

120,968

o

7,762
623
805
322
277
8
15
14
143

4,503
68
32
6,930
2,624
4,259
675
2,061
71
268
98
49

2,164
164
13
29, 755
2,063
3,369
1,439
1,348
17
93
596
641

76,639
2,394

10, 551

21,638

41,662

581
1

511

H

tt

226.185
55,436

M

96,619

2

37,111
27,742
1,327

d
w
50

6,895
6,870

8,018

g
^

g

545, 747

* The number of banks, capital, and surplus shown in this table are for reporting banks on June 30,1930. The remainingfigures,however, include the returns of 7,408 reporting
banks in the 6 months ended Dee, 31, 1929. (See semiannual statements in the appendix of this report.)




Ox

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 19S0—Continued
[In thousands of dollars]
Gross earnings

Number of
banks

Location

Virginia*..
West Virginia
North Carolina
Charlotte
8outh Carolina
Georgia»
Florida
Jacksonville
Alabama 4
Mississippi
Louisiana*
Texas
Dallas
El Paso
Fort Worth
Galveston
Houston
San Antonio
Waco
Arkansas«
Kentucky
Louisville
Tennessee 7
Nashville

_.

Total Southern States..




157
111
59
5
35
75
52
3
101
35
31
560
4
3
4
4
8
67
130

1,556

Capital

Surplus

Capital
and surplus

29, 319
13,890
9,675
1,800
5,825
19,395
9,785
6,000
18,270
5,470
9,125
43,728
12,650
1,600
4,450
2,150
9,400
4,950
1,650
6,090
13,333
5,500
18, 584
5,825

2,100

51,151
24,977
16,064
3,900

14,958
6,454
2,350
13,710
4,124
5,792
25,202
3,850
1,050
2,600
850
6,450
2,120
460
3,326
10,245
5,250
12,598
5,135

258,464

171,913

21,832
11,087

Interest Inter(includInterest ing divi- est on
baland dis- dends)
ances
count
with
on
on loans invest- other
ments banks

Commissions and
earnings
from inDomesForeign surance Trust Profits Other Total
tic exon
change exchange premi- depart- securi- earngross
and col- depart- ums and ment
ings earnings
ties
ment the negolection
sold
tiation of
charges
realestate
loans

34,353
16,239
8,350
31,980
9,594
14,917
68,930
16,500
2,650
7,050
3,000
15,850
7,070
2,110
9,416
23,578
10,750
31,182
10,960

15,346
7,702
4,939
879
3,770
10,186
3,684
1,842
9,725
4,024
5,580
23,598
5,783
1,166
3,280
969
5,500
2,577
691
3,703
7,001
3,958
10,411
3,736

2,487
1,534
540
128
752
1,419
2,043
1,085
1,707
915
553
3,515
1,322
324
698
400
1,021
166
298
914
1,714
846
1,351
324

286
199
129
17
263
390
234
75
259
108
142
1,196
200
57
188
54
260
74
35
169
208
79
384
119

208
67
268
10
232
524
239
175
337
215
142
887
170
44
94
57
127
31
41
172
55
4
326
162

430,377

140,050

26,056

5,125

4,587

295
101
56
53
66
107
47
111
189
17
16
33
86
18
14
13
93
23

2
"317

35

147
233
14
4
148
93
260
119
178
79
50
147
113
1
30
19
133
2
15
93
263
148
86
8

694
639
456
79
356
1,166
583
372
752
257
1,157
1,576
842
100
463
99
1,081
213
97
224
458
100
1,268
200

19,488
10,487
6,402
1,171
5,587
13,887
7,094
3,779
13,465
5,615
7,724
30,997
8,609
1,712
4,767
1,614
8,250
3,086
1,177
5,310
9,784
5,184
13,911
4,590

1,622

2,383

13,232

193,690

10

607

28

Ohio s
Cincinnati
„
Columbus
Indiana _ _- -_
Indianapolis
Illinois
Chicago, Cent. Res _
Chicago, other Res
Peoria9
Michigan .. _ .
Wisconsin
Milwaukee
Minnesota
- Minneapolis
St. Paul
Iowa 10
_ .
Des Moines
Sioux City
Missouri
Kansas City
St. Joseph
St. Louis

,

.
_.

__ _

Total Middle Western States
North Dakota
South Dakota
Nebraska
Lincoln
Omaha _ .
Kansas **
Topeka
Wichita
Montana 12,
Wvoming13
Colorado

Denver

- __ - - ._

- . . _

2

___._

II

50
43
4
12
303
4
182

1,185
316
47
483
40
682
449
244
82
469
435
144
194
183
96
202
49
29
85
66
2
501

3,055
393
547
1,017
326
1,870
2,224
588
141
3,652
865
983
849
329
179
965
221
121
384
281
94
500

37,768
5,524
4,382
19,405
4,602
31,490
41,506
7,008
2,210
36,315
16,532
11,061
16,753
• 12,045
6,349
14,136
2,679
1,521
6,413
6,851
1,218
12,901

1,765

481

3,415

5,983

19,584

298,669

1

71
62
30

13
9

69
116
40
1
58
72
3
22
36
41
83
65

309
242
363
87
688
668
54
255
317
115
461
390

5,671
4,890
6,564
1,682
5,736
10,822
970
2,174
6,159
2,459
7,070
7,433

300
4
4
206
4
421
12
26
3
126
150
5
255
5
3
233
3
5
106
7
4
8

45,565
7,900
5,200
25,683
7,650
39,090
54,750
8,050
3,150
32,090
19,945
13,200
18,935
12,700
6,850
16,670
2,750
2,050
8,775
8,300
1,100
17,050

34,309
5,750
5,150
15,401
4,150
24,660
40,170
3,910
3,550
29,904
11,858
7,850
9,458
7,800
4,750
7,734
1,450
725
4,064
3,063
950
6,485

79,874
13,650
10,350
41 084
11,800
63,750
94,920
11,960
6,700
61,994
31,803
21,050
28,393
20,500
11,600
24,404
4,200
2,775
12,839
11,363
2,050
23,535

24,122
3,398
2,828
12,971
3,263
20,213
30,789
3,543
1,316
24,333
10,100
8,682
9,700
8,170
4,169
9,235
1,816
923
4,192
4,885
865
8,946

7,937
1 106
703
4,144
773
7,430
4,301
2,373
527
6,516
4,532
961
4,595
2,324
1,512
3,003
497
342
1,521
1,023
175
2,347

642
100
100
342
119
594
828
103
46
643
327
130
584
249
182
350
33
58
152
222
60
217

249
46
15
167
31
436
756
75
74
247
190
68
478
668
187
232
20
44
56
68
18
134

66
34
3
14
12
9
1,203
34

1,890

357,453

233,141

590,594

198,459

58,642

6,081

4,259

112
95
161
4
6
237
4
4
63
25
114
6

5,495
4,785
8,305
1,550
5,000
13,827
1,350
2,400
4,985
2,270
7,300
5,300

2,473
2,306
4,186
590
2,500
6,682
440
1,300
3,066
1,695
4,425
5,050

7,968
7,091
12,491
2,140
7,500
20,509
1,790
3,700
8,051
3,965
11, 725
10,350

3,733
2,899
4,723
1,103
3,492
7,420
476
1,244
3,859
1,631
4,231
4,737

1,122
1,301
1,105
326
1,079
2,045
366
504
1,604
522
1,867
1,729

110
119
192
44
160
392
44
83
191
105
307
202

244
141
111
19
208
181
16
44
120
34
77
66

105
6
85
3
90
24

26
91

7
23
222
99

3
74

4
29
2
1
7

Includes 2 banks in reserve city of Richmond.
* Includes 2 banks in reserve city of Atlanta; also 1 bank for Dec. 31,1929, and 2 banks for June 30,1930, in reserve city of Savannah.
< Includes 3 banks for Dec. 31,1929, and but 2 banks for June 30,1930, in reserve city of Birmingham.
5
Includes 1 bank in reserve city of New Orleans.
6
Includes 1 bank in reserve city of Little Rock for Dec. 31,1929.
7
Includes 2 banks in reserve city of Memphis.
* Includes 2 banks in reserve city of Toledo; also 3 banks for Dee, 31,1929, and but 2 banks for June 30, 1930, in reserve city of Cleveland.
&
Includes 2 banks in reserve city of Detroit; also 2 banks for Dec, 31,1929, and 3 banks for June 30, 1930, in reserve city of Grand Rapids.
10
Includes 2 banks in each reserve city of Cedar Rapids and Dubuque.
11
Includes 2 banks in reserve city of Kansas City.
u
Includes 2 banks in reserve city of Helena.
" Includes 2 banks in reserve city of Pueblo.




2

29
5
2

510
131
139
241
38
165
956
48
24
343
54
8
128
32

47
15
11
22
1
6
41
237

S
o
hrj
1-3

W
M
O

o
g

W
a
o

g

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 19S0—Continued
[In thousands of dollars]
Gross earnings

Number of
banks

Location

New Mexico
Oklahoma
Oklahoma City
Tulsa

Capital
and surplus

Interest Inter(includInterest ing divi- est on
baland dis- dends)
ances
count
on
with
on loans investother
ments
banks

Alaska—nonmember
The Territory of Hawaii—nonmember
Total nonmember banks
Total United States

-.

453
3,081
1,320
1,280

69
480
243
232

37
406
87
49

90,947

44,849

135, 796

56,676

19,704

2,973

1,840

12,300
13,800
6,420
7,075
25,832
42,000
76,125
2,675
1,200
2,100
1,500
1,950

5,084
3,420
3,198
3,355
12,187
29,350
59,300
1,089
483
1,060
666
1,300

17,884
17, 220
9,618
10,430
38,019
71,350
135,425
3,764
1,683
3,160
2,165
3,250

6,558
4,142
3,464
3,197
12,955
31, 398
41,341
1,913
868
1,324
815
1,270

2,794
1,390
1,299
2,621
4,726
7.354
12,840
503
191
418
239
460

290
197
143
139
661
906
879
81
29
81
49
56

218
247
99
144
245
189
140
50
14
24
11
54

81
14
209
1,888
3
1
6
13

10
6

192,977

120,491

313,468

109,235

34,835

3,511

1,436

2,319

86

4
1

Total Pacific States

1,510
7,996
3,326
4,297

486

-

2,951
18,145
8,820
8,600

6
41
14
4
10
14

...

1,041
4,925
1,520
2,650

99
6
87
6
192

_

1,910
13, 220
7,300
5,950

1,135

_

. . .

Surplus

26
268
6
4

Total Western States
Washington M
Seattle _
Oregon
Portland
California "
Los Angeles
San Francisco
Idaho
Utah w
Salt Lake City
Nevada
Arizona

Capital

Commissions and
earnings
from inDomestic exForeign surance Trust Profits
on
change exchange premi- depart- securiand col- depart- ums and ment
ties
the negolection
ment
sold
tiation of
charges
realestate
loans

275
3,150

177
1,880

452
5,030

174
1,448

85
374

12
62

25
85

17

3,426

2,057

5,482

1,622

459

74

110

17

3

7,252 1, 743,974 1, 591,339

3,335, 313

903,868

299,042

23,140

18,256

13, 535

868

l
* Includes 2 banks in reserve city of Spokane.
i« Includes 2 banks in reserve city of Oakland.
i« Includes 2 banks for Dec. 31,1929, and but 1 bank for June 30,1930, in reserve city of Ogden.




Total
gross
earnings

10
98
16
38

175
807
494
899

2,259
12,863
5,549
6,818

3

5

Other
earnings

4

6
22
64
23

15

232

518

767

6,324

89,049

9
95

24

80
144
21
105
322
2,411
1,136
8

2

252
366
48
90
490
551
4,107
18
16
18
13
22

839
176
343
472
1,406
2,469
8,603
169
38
135
129
200

11,064
6,757
5,417
6,849
20,860
45,487
70,934
2,749
1,146
2,000
1,272
2,083

4,200

5,990

14,978

176,589

7

36
272

339
2,261

7

308

2,600

42
4

22, 765 | 41, 733 104,144 1,427,341

Expenses

Interest
Salaries and dis- Interest
count on on bank
and
wages borrowed deposits
money

Location

Maine
New Hampshire
Vermont
Massachusetts
Boston..
Rhode Island
Connecticut

.

.

Virginia
West Virginia
North Carolina
Charlotte
South Carolina
Georgia
.
Florida-.-.... . . . .

_
. -

.* .- _- ..........
._ _.___.
----

Jftftktq<*iTWill$

Alabama,....................




..

.........

125
180
108
520
813
50
318

52
57
23
400
2,285
32
135

406
292
78
2,947
7,626
458
1,799

3,587
798
1,592
7,813
7,683
617
3,480

420
253
348
1,224
1,491
166
1,211

800
638
359
3,308
5,026
316
1,844

6,546
3,226
3,242
21,382
33,986
2,086
12,157

2,152
1,417
1,146
8,751
18,606
1,053
5,218

2,123

2,984

13,606

25,570

5,113

12,291

82, 625

13,224
603
75
36,740
10,334
16, 554
6,370
4,210
245
1,095
1,187
1,879

1,184
40

538
23

3,021
995
2,158
1,137
663
46
97
173
146

10,925
197
303
1,650
2,051
4
25
339
188

5,066 ~
243
12
37,753
4,161
3,445
5,542
4,846
101
188
743
700

25,007
368
193
16, 508
17,141
31,245
3,952
4,141
339
2,843
1,014
1,392

2,873
58
24
8,558
2,322
4,094
1,559
1,177
59
362
516
733

7,475
723
62
28,839
5,673
8,385
4,127
2,512
107
523
661
910

55,367
2,058
366
142,344
40,823
66,184
24,337
19,600
901
5,133
4,633
5,948

92,516

__

Total Eastern States

Taxes

Total
Other expenses
Net
earnings
expenses
paid

20,938

_

Total New England States
New York
Brooklyn and Bronx
Buffalo
New York City
New Jersey
Pennsylvania
Philadelphia .
Pittsburgh
Delaware.
Maryland..
Baltimore.
. .
Washington, D . C

Interest
on time
deposits

1,156
1,008
734
5,161
9,062
447
3,370

.

~ -.

Interest
on demand
deposits

Net earnings and recoveries

9,660

16, 243

104,143

22, 335

59,997

367, 694

3,720
2,096
1,395
262
1,065
2,959
1,836
893
2 s yi2

612
351
388
48
129
249
198
142

374
151
108
9
250
428
102
191
169

5,140
2,675
1,864
262
1,517
2,634
1,493
722
% 469

1,042
798
346
65
372
797
273
117
015

1,971
1,141
798
164
777
1,989
1,184
621
1,770

13, 742
7,798
5,084
843
4,265
9,917
5,696
2,976

9,708

a, 757

779

62,800
1

883
586
185
33
155
861
610
390
694

Total net
RecovRecovearnings
eries on eries on All other and reloans
bonds, recover- coveries
and dis- securion
ies
counts ties, etc.
chargedoff assets
75

33
13

28
22
58
207
558
22
94

40
22
332
2,445
14
139

166
173
2
13

2,288
1,492
1 233
9,456
21,782
1,091
5,460

38, 343

989

3,067

407

42,806

21, 272
336
145
83,841
14,613
30, 435
12,774
8,142
426
1,762
2,237
2,070

384
6

585
51

1,510
305
318
176
144

803
3
20
893
193
423
1
62

445
149
301
24
243

20
47
27

24
2
12

70
44
160

23,044
396
169
86,689
15,260
31,477
12,975
8,591
440
1,876
2,330
2,269

178, 053

2,941

2,443

2,079

185,516

5,746
2,689
1,318
328
1,322
3,970
1,398
803

198
110
101

22
17

699
37
26

61
133
168
24
212

7l

21
36
157

6, 665
2,853
1,449
328
1,475
4, 205
1,727
£38
4,094

4

7

7

4

66
4
"4

m

s

66

so

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO 1980—Continued

O

[In thousands of dollars]
Expenses

Location

Mississippi
Louisiana
Texas
Dallas
BJIPaso
Fort Worth
Galveston
Houston
San Antonio
Waco.
Arkansas
Kentucky
Louisville
Tennessee
Nashville

Interest
Salaries and dis- Interest
and
count on on bank
wages borrowed deposits
money

1,271
1,657
8,318
1,679
446
841
246
1,730
624
204
1,176
1,985
938
2,851
782

Total Southern States..

41,786

Ohio
Cincinnati
Columbus
Indiana
_
______
Indianapolis, _
__
Illinois
Chicago, Cent. Res
Chicago, other Res
Peoria
__
Michigan
Wisconsin..
Milwaukee
__
Minnesota
Minneapolis
St. P a u l — __

7,062
897
876
4,179
944
7,366
6,562
1,852
400
6,291
3,451
2,276
3,400
2,504
1,125




295
355
45
445
63
19
113
250
497

6,874
181
79
395
21
558
484
34
9
602

575
97

Net earnings and recoveries
Total net
RecovRecovearnings
eries on eries on All other and rebonds, recover- coveries
loans
and dis- securiies
on
counts ties, etc.
chargedoff assets

Interest
on demand
deposits

Interest
on time
deposits

78
296
567
485
49
307
125
443
96
31
168
80
416
456
241

264
761
2,132
983
135
469
77
633
137
107
294
365
337
604
204

1,241
799
2,797
832
200
537
486
1,356
554
294
1,229
2,568
750
3,361
877

531
582
2,281
636
84
227
105
496
307
71
230
704
230
920
424

733
913
4,258
723
218
659
120
1,119
377
152
753
991
543
1,640
452

4,413
5,341
21,005

1,202
2,383
9,992
3,016

236
143

1,192
3,308
1,204

520
1,459
410
2,028
928
299
1,347
2,841
1,473
3,719
1,387

24
112
6
205
53
9
95
78
23
115
23

5,620

11,899

36,657

12,553

23,966

139,355

54,335

9,601
637
341
5,082
467
7,612
2,879
1,750
408
8,194
4,425
1,379
5,411
1,570
825

2,209
377
119
1,586
406
1,776
2,657
138
153
2,479
777
416
990
726
346

4,187

27,301

261
267
293
298
498
2,339
20
91
458
244
473
268
1,093
355

2,997
594
590
996
470
1,074
6,942
263
75
3,736
613
1,034
510
1,017
.01

2,109
383
3,806
6,294
1,184
250
5,744
1,928
1,710
1,882
1,666
729

3,231
14,640
2,989
22,690
28,157
5,241
1,386
27,504
11,650
7,571
12,543
9,151
4,378

10,467
2,255
1,151
4,765
1,613
8,800
13,349
1,767
824
8,811
4,882
3,490
4,210
2,894
1,971

Taxes

Total
Other
Net
expenses expenses earnings
paid

2,158
878
3,963
6,943
3,711
10,192
3,203

14

47
11
249
27
12
16
117
31
29
2
13
41
1
78
19

1,563
2,540
11,684
3,110
569
1,589
533
2,278
1,010
310
1,460
3,001
1,589
3,917
1,464

3,591

582

1,743

60,251

391
54
57
193
14
290
793
36
11
505
124
71
213
375

125

333
181
6
344
13
170
23
7

11,316
2,490
1,223
5,379
1,645
9,314
14,165
1,821
836
9,901
5,112
3,601
4,520
3,367
2,037

50

9
77
5
54
11
1
77
56

508
50
40
43

Iowa
DesMoines._
SiouzCity
Missouri...^
Kansas City
St. Joseph
St. Louis
Total Middle Western States
North Dakota
_
South Dakota
Nebraska
__.
Lincoln...
Omaha
__.
Kansas
Topeka
„
Wichita
Montana
Wyoming
Colorado
Denver
New Mexico
Oklahoma
Oklahoma City
Tulsa
_.Total Western States
Washington
Seattle
Oregon,-,

Portland
California
Los Angeles
San Francisco
Idaho
Utah
Salt Lake City
Nevada
Arizona
-.Total Pacific States,.
Alaska—nonmember
The Territory of Hawaii—nonmember
Total nonmember banks
Total United States




4,236
337
268
1,291
225
178
1,506

607
154
35
393
326
62
834

1,600
338
273
866
748
196
1,164

10,480
1,865
1,205
4,866
4,690
972
8,952

3,656
814
316
1,547
2,161
246
3,949

370
30
10
72
91
26
210

58,622

17,566

38, 338

214,731

83,938

3,986

115
540
1,637
52
264
1,610
499
1,562
1,485
332
1,812
845
448

197
131
250
51
182
542
26
95
311
124
587
427
129
614
183
375

822
598
779
230
1,123
1,462
140
317
672
268
857
845
316
1,883
607
1,149

4,302
3,398
4,584
1,129
4,281
7,499
701
1,410
4,034
1,665
5,256
5,546
1,475
9,020
3,549
5,036

1,369
1,492
1,980
453
1,455
3,323
269
755
2,125
794
1,814
1,887
784
3,873
2,000
1,782

58
100
315
29
120
519
25
67
387
54
339
81
119
590
36
95

5,729

15,768

4,224

12,068

2,389
832
1,149
1,726
4,574
14,168
19,134
623
238
311
320
372

395
230
198
133
509
674
1,601
140
43
71
85
159

1,594
794
736
945
2,908
5,880
10,077
352
140
228
153
305

7,872
4,450
3,850
4,987
15,312
33,824

45,836

4,238

2,963
548
374
1,556
1,578
325
2,600

158
78
65
157
170
1
211

367
154
140
141
778
154
649

59,129

5,315

9,723

1,289
1,137
1,539

52
76
105
157
508
263
81
168
84
66
134
296
23
161
346
323

147
169
144
133
447
522
133
96
178
145
269
758
120
929
456
1,083

1,744
1,255
1,568

396
1,302
2,857
249
451
1,142
542
1,708
1,683
526
3,477
1,013
1,462

51
32
199
47
179
216
20
28
37
21
139
52
29
144
99
196

20, 773

1,489

2,843

549
256
50
462
865
56

2,702
1,732
1,455
1,614
5,559
10, 323
14,883
673
223
412
256
574

142~
21
82
47
212
143
1,431
24
22
26
2
3

120
348
24
220
432
731
2,432
44
115
168
45
13

530
493
206
302
1,118
1,905
3,518
109
50
148
8
79

40,406

2,155

4,692

8,466
14
167

72
469
541
276,089

27,671

42,119

2,010

90,593

7
14
75
9
16
314
15
19
129
5
49
20
18
375
16
207

1,444
1,609
2,375
499
1,617
4,183
309
841
2,647
856
2,289
2,012
928
4,863
2,052
2,084

231

1,288

30,608

258
40
125
179
241
77
155
31
12
28
36
45

37
1
35
9
110

53, 076
1,965
831
1,364
869
1,505

3,192
2,307
1,567
1,862
5,548
11,663
17,858
784
315
636
403
578

273
292
32
26
240
80
18
16
4
2

3,760
2,640
1,759
2,076
6,139
11,820
18,031
843
331
674
440
858

24,112

129,905

46,713

1,227

213

1,218

41

198
1,664

141
597
738

12

49,371
.. ,, , .. :
. . . .
.
150
601
751

171,161

999,066

428,275

15,680

7,195

8,746

459,896

529

181

55

31
659

4,123
943
346
1,696
2,270
277
4,211

94

128,719

66,123

26,155

12
1

235

Abstract oj reports of earnings, expenses, and dividends of national banks for the year ended June 80, 1980—Continued
[In thousands ot dollars]

Ratios

Losses and depreciation charged off

On

On
On loans bonds, banking
On
and dis- securities, house,
foreign
furni- exchange
counts
etc.
ture and

Location

Other
losses

fixtures

Maine
New Hampshire
Vermont
.
Massachusetts
Boston
Rhode Island
Connecticut

266
387
349

.

.

_-_...

158
54

11,541
3,526
5,253

6
7,733
771

1,467
243
205
13
26
86
93

31,810

28,949

12,040

1,825
1,261

-

493
706
58
399
106
65

384
249
29

870




.
^

. . . _.

601

1,746
738

76
760
628
83
176
109

98
53
118
50

Dividends

DiviDivi- dends to
capital
dends to
capital" and surplus *7

Net addition to
profits to
capital v

Net addition to
profits to
capital
and surplus i*

Per cent
6.65
6.33
6.17
6.92
9.59
4.75
5.64

Per cent
16.81
13.59
10.45
11.45
6.27
20.09
16.29

Per cent
8.40
6.99
6.33
5.83
3.60
8.86
8.30

44
1
4
9

58

7
1

3,485
5,196
908

1,976

3,488

2,368

Per cent
13.31
12.31
10.17
13.59
16.69
10.77
11.06

3,756

27,173

15,633

23,032

14.63

7.93

9.93

5.38

419
18
1

28

5,971
16,586

326

2
24

180
138
42
8
46
440

77
755
1,047
2,718

..

Net
addition
to profits

183

1
1

980
417

811
6
256
197
299

_ ..

Total Eastern States
Virginia....
West Virginia
North Carolina
Charlotte
South Carolina
Georgia
Florida
Jacksonville
Alabama.. . . . .
Mississippi

1,310

6,590

19,181
2,631
3,334
1,871

Total New England States
New York
Brooklyn and Bronx
Buffalo..
New York City
New Jersey _
Pennsylvania. . __
.
Philadelphia
Pittsburgh
Delaware
Maryland.
Baltimore
Washington, D . C

14,231

129
23

_

100
762

3,072

_ __ .

2,019
10,199

7,848

. .

2,625
3,630
45
646

. _

94
91
38
372
439
34
242

664
194
293

Total
losses
charged
off

11,061

11,983
"326

9,077

1,976

40,475
7,327
10,523
2,767
1,955

6.26
2.30
3.20
6.65
6.88
5.95
8.19
4.53
4.98
7.44
9.74
6.86

16.64
"4.90
11.33
12.96
14,01
21.04
27.55
23.33
21.36
20.41
25.28
15.50

8.26
i»2.89
7.56
5.82
6.92
8.05
8.41
9.63
8.04
8.43
12.64
8.61

24
41
14
953

2,394

398
465
160
224
11
30
70
142

1,049

1,239

714
694

778
539

722
84

88
711
459
599

981
705
525

4,134
13,832
487

85

259
36

46, 214
7,933
20,954
10,208
6,636

52,815
7,889
15,505
9,941
3,118

1,165
1,871
1,670

1,029
1,441
1,331

12.60
3.89
4.80
14.81
13.94
15. 57
26.83
10.96
13.23
18.02
19.47
12.35

352

218

3,914

76,771

108,745

102,659

15.03

6.54

15.92

6.93

95
99
28
5
138
319
138
52
194
112

2,484
1,747

4,181
1,106

3,307
1,541

969
90

11.28
11.09
9.07
12.89
10.75
13.67
6.61
7.63
10.35
10.48

6.47
6.17
5.47
5.95
6.38
7.72
3.98
5.49
5.91

14.26
7.96
4.96
13.22
7.90
8.45
» 18.96

87l7
4.43
2.99
6.10
4,69
4.77

1,015
2,566
3,582

480
238
460

878
232
626

1,639
"1,855

2,652

789

49

2,241
1,010

1,853
553

647
458

1,891
573

5.97

.82

10.14
10.11

1811.42

.59
5.79
5.76

IxMiisidiisi

Texas.
Dallas
El Paso
Fort Worth
Galveston
Houston
San Antonio
Waco.
Arkansas
KentUGkv
Louisville
Tennessee
Nashville

114
290
113
57
34
13
48
15
29
64
389
232
161
136

147
581
63
2
75
46
72
77
15
68
75
8
217
38

4.. 189

2,657

3,430
348
360
1,781
629
3,533
5,234
226
42
2,120
924
450
1,099
503
140
2,215
427
129
597
274
130
345

2,270
249
104
775
92
1,009
120
355
12
955
626
133
397
33
74
359
227
35
195
149
163
251

654
79
39
443
2
514
411
119
28
1,604
396
82
181
865
3
143
50
16
111
98
5
112

24,936

8,583

5,955

566
93
73
498
125
39
954
156
70
123
46
55
353
105
269
252
1,568
231
71
1
5
142
171
51
Capital and surplus as of June 30, 1930.

_--

-

_ _ __

- - - ---

Total Southern States
Ohio
-.
Cincinnati
Columbus
_.
Indiana
Indianapolis
Illinois
Chicago, Cent Res
Chicago, other Res
Peoria
Michigan
Wisconsin
Milwaukee
Minnesota
Minneapolis
St. Paul
Iowa
Des Moines
Sioux City
Missouri
Kansas City- .
St. Joseph
St. Louis _,

719
5,304
481
135
549
81
282
407
77
584
720
281
1,219
296
22,773

-

- -

- -

_ _
-.

__ _

_ -

.

_

Total Middle Western States
North Dakota
South Dakota
Nebraska
Lincoln
Omaha
Kansas
Topeka
Wichita




- 17

165
963
22
19
86
125
63
20
11
72
167
32
288
49

1,145
7,140
679
213
744
265
465
519
132
788
1, 341
553
1,885
519

1,395
4,544
2,431
356
845
268
1,813
491
178
672
1,660
1,036
2,032
945

1,058
4,997
1,693
66
650
168
861
506
166
628
1,540
1,011
2,628
791

11 59
11.43
13.38
4 13
14.61
7.81
9.16
10 22
10.06
10.31
11.55
18.38
13.58
13.58

7.09
7.25
10.26
2.49
9.22
5.60
5.43
7.16
7.87
6.67
6.53
9.40
8.09
7.22

16.29
10.39
19.22
22.26
18.99
12.47
19.29
9.92
10.79
11.03
12.46
18.84
10.93
16.22

9.35
6,59
14.73
13.43
11.99
8.93
11.44
6.94
8.44
7.14
7.04
9.64
6.62
8.62

10

3,252

32,881

27,370

29,463

11.40

6.85

10.69

6.36

4

381
2
33
788
848
237
49
5
2^3
216
116
469
38
10
763
117
22
106
95
5
71

6,739
678
536
3,787
725
5,904
6,002
749
87
4,947
2,162
782
2,146
1,439
227
3,480
821
202
1,009
616
303
779

4,677
1,812
687
1,592
920
3,410
8,163
1,072
749
4,954
2,950
2,819
2,374
1,928
1,810
643
122
144
687
1,654

9.53
14.76
20.48
8.91
8.37
11.96
12.77
11.25
24.06
14.19
13.22
11.51
10.47
12.26
15.80
5.85
9.89
3.37
6.88
12.29
14.55
23.83

5.44
8.54
10.29
5.57
5.42
7.33
7.37
7.58
11.31
7.35
8.29
7.22
6.98
7.60
9.33
4.00
6.48
2.49
4.70
8.98
7.80
17.26

10.04
22.94
13.21
6.20
12.03
8.72
14.91
13.32
23.78
15.44
14.79
21.36
12.54
15.18
26.42
3.86
4.44
7.02
7.83
19.93
w 2.36
20.13

5.78
13.27
6.64
3.87
7.80
5.35
8.60
8.96
11.18
7.99
9.28
13.39
8.36
9.40
15.60
2.63
2.90
5.19
5.35
14.56

3,432

4,344
1,166
1,065
2,289
640
4,675
6,991
906
768
4,555
2,636
1,519
1,982
1,557
1,082
976
272
69
604
1,020
160
4,063

10

4,636

44,120

46,473

43,329

12.12

7.34

13.00

7*87

7

79
102
278
16
176
381
15
11

818
764
1,458
240
1,003
2,433
92
375

626
845
917
259
614
ly750
217
466

485
497
771
175
751
1,577
132
232
Deficit.

8.83
10.39
9.28
11.29
15.02
11.41
9.78
9.67

6.09
7.01
6 17
8.18
10.01
7.69
7.37
6.27

11.39
17.66
11.04
16.71
12.28
12.66
16.07
19.42

7.86
11.92
7.34
12.10
8.19
8.53
12.12
12.59

2

5
1

100
1

18 26

18 1.27

14.58

CO

Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June 80, 1980—Continued
[In thousands of dollars]
Ratios

Losses and depreciation charged off
On
On
On loans bonds, banking
On
house,
and dis- securities, furniforeign
counts
exchange
etc.
ture and
fixtures

Location

Montana
Wyoming
. _.
Colorado
_
Denver
New Mexico.
Oklahoma
Oklahoma City
Tulsa

..

Total nonmember banks
Total United States




._
- -

2,029

109

470
73
151
172
764
449
935
49
23
142
44
27

197
91
103
119
492
1,340
2,256
48
10
25
39
49

47

3,299

4,769

53

1
12

13
30

77

13

43

103,817

61,371

28,803

Dividends

DiviNet addends to dition
Dividends to capital profits to
capital and sur- capitalto
plus

Net addition to
profits to
capital
and surplus

Per cent
27.00
19.16
10.48
21.36
25.97
18.75
22.55
22.49

Per cent
16.72
10.97
6.52
10.94
16.81
13.66
18.66
15.56

Per cent
16.59
13.79
10.63
16.13
17.49
16.44
22.53
9.21

Per cent
10.27
7.89
6.62
8.26
11.32
11.98
18.65
6.37

2
4

268

68
26
198
82
34
398
45
182

1,301
421
1,524
880
432
2,384
406
746

1,346
435
765
1,132
496
2,479
1,646
1,338

827
313
776
855
334
2,174
1,645
548

2,091
96~
35
118
384
432
229
158
43
20
21
33
156

15,277

15,331

12,092

13.30

8.90

16.86

11.29

1,713
352
927
998
2,957
2,467
6,163
463
123
305
286
524

2,047
2,288
832
1,078
3,182
9,353
11,868
380
208
369
154
334

1,501
3,371
658
941
2,283
7,108
8,968
260
139
256
94
189

12.20
24.43
10.25
13. 30
8.84
16.92
11.78
9.72
11.58
12.19
6.27
9.69

8.63
19.58
6.84
9.02
6.00
9.96
6.62
6.91
8.26
8.10
4.34
5.82

16.64
16.58
12.96
15.24
12.32
22.27
15.59
14.21
17.33
17.57
10.27
17.13

11.78
13.29
8.65
10.34
8.37
13.11
8.76
10.10
12.36
11.68
7.11
10.28

1,725

17, 278

32,093

25,768

13.35

8.22

16.63

10.24

59
76

91
525

52
634

18.91
20.13

11.50
12.60

33.09
16.67

20.13
10.44

2

2,107

44
33
-

1

7,432

Total Pacific States
A laska—nonmember
The Territory of Hawaii—nonmember

206
59
161
105
60
535
68
65

950
153
553
319
1,269
449
2,767
323
70
117
170
292

-_

94
81
280
274
63
207
59
77

8,941

Total Western States
Washington
Seattle...
Oregon . , -.. _ _ _.
Portland
California
Los Angeles
San Francisco .
Idaho
Utah_
Salt Lake City
Nevada
Arizona

Net
addition
to profits

1
1

933
255
885
419
274
1,244
234
422

.

Total
losses
charged
off

Other
losses

135

616

686

20.03

12.51

17.99

11.24

213,635

246,261

237,029

13.59

7.11

14.12

7,38

19,376

Abstract of reports of earnings, expenses, and dividends of national banks, by Federal reserve districts, year ended June 80, 19SO
[In thousands of dollars]
NonDistrict District District District District District District District District District District District member Grand
total
No. 10 No. 11 No. 12 banks
No. 9
No. 1
No. 2
No. 3
No. 6
No. 4
No. 5
No. 8
No. 7
(619
(7,252
(870
(640
(365
(764
(672
(682
(446
(357
(450
(482
(900
(5
banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) i
Capital
Surplus
Capital and surplus
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 departments
Commissions and earnings from insurance premiums and the negotiation of
real-estate loans
_
Trust departments
_
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.
1

123,950
220, 872

125,385
139,937

82, 723
68,125

81, 595
57, 565

200,905
137,036

65,035
37,965

61, 210
34, 223

85, 477
41,312

45,405

192,327
120,046

3,425
2,057

1, 743,974
1, 591,339

283,624 1,039,026 344,822

265, 322

150,848

139,160

337,941

103,000

95,433

126,789

131, 493

312,373

5,482

3, 335,313

75,835

202,060

72,401

68,744

46,082

43, 251

115,141

34, 530

36,361

51, 709

47,342

108, 780

1,622

903,858

24,126
1,451
644
537

79, 322
1,501
4,544
7,232

30, 441
1,196
601
806

31, 338
1,947
597
318

10, 278
1,156
868
55

8,484
1,450
1,745
403

28, 822
3,150
2,108
1,466

10, 727
1,093
796
75

15,087
1,595
1,953
122

16,957
2,832
1,395
15

8,421
2,205
1,595
183

34,580
3,490
1,400
2,306

459
74
110
17

299,042
23,140
18, 256
13, 535

2,295
4,768
7,899

29
8,959
13,828
33,877

4
1,099
3,971
4,149

7
1,265
5,313
6,824

5
738
924
3,507

5
563
800
4,866

215
1,930
2,724
12,123

33
401
1,373
2,349

402
188
900
2,523

71
802
630
5,832

297
520
4,956

4,228
5,975
14,931

7
308

868
22, 765
41, 733
104,144

117,455

351,352

114,668

116,353

63,613

61, 567

167,679

51, 377

59,131

80, 243

65, 527

175, 776

2,600

1, 427, 341

13, 462
2,339
1,616
3,895
12, 269
3,880
8,107

10, 675
1,622
1,943
3,835
10, 391
3,245
5,542

12, 046
924
2,001
3,148
14,629
3,145
7,221

19,048
1,534
3,594
6,133
11,621
3,988
10,864

15, 218
2,010
2,248
5,094

40,175
2,153
4,689
8,429
45,604
4,183
24,011

541
55
14
181
588
94
389

276,089
27, 671
42,113
128, 719
287,184
66,123
171,161

45, 568

37, 253

43,114

56, 782

45, 278

154,137
129,487

20,280
2,026
2,955
13, 344
24, 793
4,871
11,872
80,141

481,717
557,309

59,131
4,987
11,690

19, 793
3,177
1,859

20, 299
2,491
3,149
10, 664

13,337
41,946

27,042
5,143
10,899

5,743
11,673

12,514
1,888
1,408
3,411
16, 326
4,120
6,839

234,087

76, 608

82, 688

46, 506

Includes nonmember banks of Alaska and the Territory of Hawaii.




32, 907
2,465
4,953
15,332
31,027
9,819
23, 432
119,935

7,787
4,555

129, 244

999,066

O

W
o
o
o

E
d

3
o

Abstract of reports of earnings', expenses, and dividends of national banks, by Federal reserve districts, year ended June 80, 1980—Continued
[In thousands of dollars]
NonDistrict District District District District District District District District District District District member
No. 1
No. 4
No. 2
No. 6
No. 11 No. 12
No. 3
No. 5
No. 9
No. 10
No. 7
No. 8
banks
(365
(682
(357
(764
(672
(619
(870
(640
(482
(446
(900
(450
(5
banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks) banks)
Net earnings
Recoveries on charged-ofl assets:
Loans and discounts
Bonds, securities, etc
Allother

Grand
total
(7,252
banks)

37,314

—

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

117,265

38,060

33, 665

17,107

15,999

47,744

14,124

16,017

23,461

20,249

46, 532

738

428,275

973
2,984
407

2,137
1,935
1,181

468
373

823
349
839

553
151
1,029

731
178
378

2,322
281
1,196

708
308
147

1,243
116
349

2,462
227
1,130

2,042
80
743

1,206
213

12

15,680
7,195
8,746

41, 678

122, 518

39, 260

35,676

18,840

17,286

51,543

15,287

17,725

27,280 |

23,114

751

459,896

7,807
13,853
1,258
28
3,499

24,234
21, 668
9,852
44
2,992

4,913
4,521
1,199
1
574

6,587
5,534
1,694
17
874

5,475
1,271
592

16,402
4,038
3,496
6
2,931

3,356
1,321
552

604

8,034
2,022
1,041
8
1,045

4,254
971
1,492
7
942

7,279
2,137
1,813
101
1,940

8,230
738
1,006
3
1,524

7,169
3,284
4,765
53
1,580

26,445

58, 790

11,208

14, 706

7,942

12,150

26,873

13, 270

11, 501

16, 851

103,817
61,371

W
P

268
19,376
135

213, 635

„

Net addition to profits
Total dividends declared
Ratios:
Dividends to capital 2
per cent..
2
Dividends to capital and surplus 2_.do
Net addition to profits to capital ._do
Net addition to profits to capital and
surplus 2
per cent..
8

Capital and surplus as of June 30,193Q,




15,233
22, 710

63,728
68,244

28,052
22, 603

20,970
16,001

10, 898
10,198

5,136
8,999

24, 670
23,483

9,189
10,070

10, 059
7,267

14,010
11, 434

11, 613
9,595

32,087
25, 739

616
686

246, 261
237,029

14.73
8.01
9.88

14.17
6.57
13.23

18.24
6.55
22.63

12.76
6.03
16.72

12.33
6.76
13.17

11.03
6.47
6.29

11.69
6.95
12.28

15.48
9.78
14.13

11.87
7.61
16.43

13.38
9.02
16.39

11.15
7.30
13.49

13.38
8.24
16.68

20.03
12.51
17.99

13.59
7.11
14.12

5.37

6.13

8.14

7.90

7.22

3.69

7.30

8.92

10.54

11.05

8.83

10.27

11.24

7.38

W

BBPOBT OF THE COMPTROLLER OF THE

CURRENCY

77

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 SO, 1918 to 1930, inclusive
[In thousands of dollars]
Percentage of losses
charged off—
Year
ended
June
30-

1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

United
States
Government
securities

Other
bonds
and securities

Total
bonds
and securities,
etc.

Loans and
discounts
(including
rediscounts)

Losses
charged
off on
bonds
and securities,
etc.

Losses
charged
off on
loans
and discounts

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
2,891,167
2,803,860
2, 753,941

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
4,256,281
3,852,675
4,134, 230

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
7,147,448
6,656,535
6,888,171

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
15,144,995
14,801,130
14,887,752

44,350
27,819
61,790
76,179
33,444
21,890
24,642
25,301
23,783
27,579
29,191
43,458
61,371

33,964
35,440
31,284
76,210
135,208
120,438
102,814
95,552
93,605
86,512
92,106
86,815
103,817

On bonds
and
securities
to total
bonds and
securities
owned
1.12
.55
1.48
1.89
.73
.43
.48
.44
.41
.43
.41
.65
.89

On account
loans and
discounts
to total
loans and
discounts
0.34
.32
.23
.63
1.20
1.02
.86
.75
.70
.62
.61
.59

Number of national banks, capital, surplus, net addition to profits, dividends, and
ratios, years ended June SO, 1914 to 1930
[In thousands of dollars]
Ratios

Year ended
June 30—

1914
1915
1916
1917
1918
1919
1920
1921
1922
19231924
1925
1926
1927
1928
1929
1930

Number of
banks

Capital

Surplus

Net addition
to
profits

Dividends

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
7,691
7,536
7,252

1,063,978
1,068,577
1,066,209
1,081,670
1,098,264
1,115,507
1,221,453
1,273,237
1,307,199
1,328,791
1,334,011
1,369,385
1,412,872
1,474,173
1,593,856
1,627,375
1,743,974

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
1,419,695
1,479,052
1, 591,339

149, 270
127,095
157, 544
194,321
212,332
240, 366
282,083
216,106
183,670
203,488
195,706
223.935
249,167
252,319
270,158
301,804
246,261

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
205,358
222,672
237,029

Dividends
to capital

Net addition to
Diviprofits
dends
to
capital
To
and
To cap- ital capand
surplus
ital
surplus

Per cent Per cent Per cent Percent
11.37
14.03
8.39
6.80
10.63
7.08
11.89
6.33
10.76
8.76
14.78
6.38
11.61
10.52
17.96
6.79
11.82
11.09
19.33
6.78
12.15
12.11
21.55
6.83
12.10
12.78
23.09
6.70
12.42
16.97
6.88
a 40
12.69
14.05
7.04
7.79
13.48
15.31
7.47
8.48
12.27
14.67
6.78
8.11
12.05
16.35
6.63
9.00
12.30
17.63
6.65
9.54
12.26
17.12
6.62
9.24
12.88
16.95
6.81
8.96
13.68
18.55
7.17
9.72
13.59
14.12
7.11
7.38

NATIONAL BANKS CLASSIFIED ACCORDING TO CAPITAL STOCK

The recapitulation following concerns tables published in the
appendix of this report in relation to the number of national banks in
reserve cities and States on December 31,1929, classified according to
capital stock, with amount of loans and discounts, bonds and securities owned, aggregate resources, paid-in capital stock, surplus and undivided profits, and total deposits.



78

REPORT OF THE COMPTROLLER OF THE CURRENCY
National banks classified according to capital stock December 81, 1929
[In thousands of dollars]
Bonds
NumLoans
and
ber of
and
banks discounts 1 securities
owned

Capital of less than $50,000
2,050
Capital of $60,000 but less than
3,968
$200,000
Capital of $200,000 but less than
900
$500,000
Capital of $500,000 but less than
261
$1,000,000
Capital of $1,000,000 but less
192
than $5,000,000
Capital of $5,000,000 but less
than $25,000,000
Capital of $25,000,000 but less
than $50,000,000
Capital of $50,000,000 or more. _
Total United States

Aggregate

Capital

Surplus
and undivided
profits

Total
deposits

424,952

254,958

851,126

54,837

51,399

695,210

2,652,332

1,665,954

5,243,903

319,977

385,892

4,189,182

2,017,589

1,060,931

3,776,509

225,857

275,436

3,025,134

1,268,078

561,429

2,304,687

146,105

163,502

1,843,327

2,912,181

943,814

6,174,924

313,472

353,391

4,156,098

2,481,640

980,767

4,836,224

244,950

370,080

3,740, 23.5

1,209,722
2,193, 733

247,493
742,497

2,145,377
4,549,733

134,275
265,000

123,433

1,684,145
3,440,162

7,408 15,160,227

6,457,843 28,882,483 1,704,473 2,045,419 22,773,493

i Includes overdrafts.

NATIONAL BANK EXAMINERS

The following is a list of the examiners in the service on November
1, 1930:
CHIEF NATIONAL BANK EXAMINER
FOLGER,

W. P., Office Comptroller of the Currency, Washington, D. C,
ASSISTANT CHIEF NATIONAL BANK EXAMINERS

Office Comptroller of the Currency, Washington, D, C.
CROSSEN, G. W,
HODGSON, R. M.
MCBRYDE, W. W.

SMITH, C. F.
WILSON, C. F.

DISTRICT C H I E F NATIONAL BANK

EXAMINERS

[By Federal reserve districts]
F. R.!
Dist.;
No.

Name

Williams, F. D.
Roberts, L. K_.
Newnham, Stephen L
Taylor, William
Chorpening, I. I.
6 Robb, Ellis D_
7 ! Leyburn, A. P_
8 Neill, Robert.
Madland, L. L_
10 Wright, Irwin D.
11 Collier, Richard H_
12 Harris, Thomas E ,



Address

Federal Reserve Bank Building, Boston, Mass,
525 Federal Reserve Bank Building, New
York, N. Y.
1500 Walnut Street, room 1503, Philadelphia,
Pa.
715 Federal Reserve Bank Building, Cleveland,
Ohio.
National Metropolitan Bank Building,Washington, D. C.
717 First National Bank Building, Atlanta, Ga.
164 West Jackson Boulevard, room 1209,
Chicago, 111.
1310 Federal Commerce Trust Building, St.
Louis, Mo.
1334 First National Soo Line Building, Minneapolis, Minn.
800 Federal Reserve Bank Building, Kansas
City, Mo.
1706 Republic Bank Building, Dallas, Tex.
155 Montgomery Street, room 1103, San Francisco, Calif.
>

REPORT- OF THE COMPTROLLER OF THE CURRENCY

79

NATIONAL BANK EXAMINEES
F,R.
Dist.
No.
10
5
9
2
4

12
6
7

10
10
4
3
7
10
6
4
2
1
12

12

12
10
7
1
2

Name

Address

800 Federal Reserve Bank Building, Kansas
City, Mo.
203 Grace-Broad Arcade Building, Richmond,
Amrhein, Joseph A_
Va.
No. 9 Midland National Bank Building, BillAnderson, O. A
ings, Mont.
Statler Hotel, Buffalo, N. Y.
Ash wood, Cecil-..
705 Federal Reserve Bank Building, Cleveland,
Austin, James W_
Ohio.
National Metropolitan Bank Building, WashBailey, J. L
ington, D. C.
1500 Walnut Street, room 1503, Philadelphia,
Baker, W. B_
Pa.
522 Central Building, Seattle, Wash.
Baldridge, W. H_
Post-office box 940, Knoxville, Tenn.
Basham, A. A
164 West Jackson Boulevard, Chicago, 111.
Baty, M. R
1016 Twenty-eighth Street, Sioux City, Iowa.
Baugh, G. W__.
525 Federal Reserve Bank Building, New
Beaton, Otis W_.
York, N. Y.
Becker, E. J., jr.
Post-office box 186, Clinton, Okla.
800 Federal Reserve Bank Building, Kansas
Bishop, R. O
City, Mo.
525 Federal Reserve Bank Building, New York,
Black, H. W_._
N. Y.
Post-office box 44, Greensburg, Pa.
Bleakley, B. J Post-office building, Wilkes-Barre, Pa.
Boysen, Alfred.
307 Federal Building, Des Moines, Iowa.
Burk, Lysle S
800 Federal Reserve Bank Building, Kansas
Burt, Ross M_
City, Mo.
Post-office box 741, Montgomery, Ala.
Byrne, James J
348,
Carter, Aubrey B. (U)--_ RoomC. Treasury Department, Washington,
D.
Post-office box 122, Lima, Ohio
Clarke, A. A
Clarke, F. S
General delivery, Kingston, N. Y.
Coffin, George M. (Ree)__ Care of First National Bank, Putnam, Conn.
Coffin, G. S
| 155 Montgomery Street, room 1103, San Francisco, Calif.
638 H. W. Hellman Building, Los Angeles,
Cooke, A. J.
Calif.
Cunningham, F. F_
Post-office box 1175, Lakeland, Fla.
Cutler, W. A
Post-office box 272, Decatur, 111.
Dalton, John W__.
Post-office box 958, Charlotte, N. C.
Davenport, H. B__
1500 Walnut Street, room 1503, Philadelphia,
Pa.
Post-office box 442, Utica, N. Y.
DeBaun, Claude.
Detlefsen, E. O_.
525 Federal Reserve Bank Building, New York,
N.Y.
Post-office box 442, Albany, Ga.
Dolan, Reed
638 H. W. Hellman Building, Los Angeles,
Donahue, C. A_.
Calif.
800 Federal Reserve Bank Building, Kansas
Donahue, W. H_
City, Mo.
Hotel Keenan, Fort Wayne, Ind.
Donovan, Leo D
273 Grand View Terrace, Hartford, Conn.
Dooley, Thomas E525 Federal Reserve Bank Building, New York,
Douglas, A. M ..
N.Y.
715 Federal Reserve Bank Building, Cleveland,
Breeder, H. B.
Ohio.
326 Central Building, Peoria, 111.
Dye, Sam W
214 Federal Building, Evansville, Ind.
Elkins, Lewis R_
Allen, E. F

7
8
See footnotes at ecd of table




80

REPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL BANK EXAMINERS—Continued

F. R.l
Dist.
No.

Name

11
6
4
3
11
2

Embry, Jacob
Evans, Clyde J
Faris, A. B
Finney, R. Gordon.
Foster, Charles W_.
Francis, C. C

10
1
7

Fraser, J. A
Freeman, O. M_
French, H. S___.

7
4

Fuller, Harry R_
Fulton, Ira J

10

Funsten, J. B__

12

Funsten, W. P_

4
9

11
12

Gaskell, George R
Gentry, James H
Gilbert, H. B
Glazier, Charles A
Goodhart, R. W. (Rec).

12
1
8
3

Gray, W. M. (JG)_._
Green, A. W
Harrison, H. G
Hartman, Charles H_

4
11
11
8

Hauschild, L. P
Hawkins, J. W
Hedrick, G. C
Hooker, Robert K___

12
7
11
2
9

Hooper, Marshall.
Hopkins, R. L

1
11
7

Hurley, Michael J_.
Hutt, William E___
Joseph, Edward M_

Horton, B. E
Hotchkin, Paul I .
Huck, William F_

Kane, Thomas F_...
Kane, W. W
Ketner, John H
Keyes, Paul C. (Rec).
7
11
12

Laird, H. A
Lamb, Ernest
Lamm, R. Foster.

6
4

Lammond, W. M_
Lanum, Harry L .

See footnotes at end of table.




Address

1706 Republic Bank Building, Dallas, Tex.
Post-office box 822, Nashville, Tenn.
Post-office box 506, Richmond, Ky.
Post-office box 61, Lancaster, Pa,
519 Bedell Building, San Antonio, Tex.
525 Federal Reserve Bank Building, New York,
N. Y.
Post-office box 574, Hutchinson, Kans.
205 Governor Street, Providence, R. I.
164 West Jackson Boulevard, room 1209,
Chicago, 111.
Post-office box 592, Indianapolis, Ind.
715 Federal Reserve Bank Building, Cleveland,
Ohio.
800 Federal Reserve Bank Building, Kansas
City, Mo.
638 H. W. Hellman Building, Los Angeles,
Calif.
Post-office box 14, Mansfield, Ohio.
103H Fourth Street, Bismarck, N. Dak.
Post-office box 1062, Austin, Tex.
326 Yates Building, Boise, Idaho.
c/o Division Insolvent National Banks, Office
Comptroller Currency, Treasury Department, Washington, D. C.
514 Post-office Building, Portland, Oreg.
Federal Reserve Bank Building, Boston, Mass.
601 West Oak Street, Carbondale, 111.
1500 Walnut Street, room 1501, Philadelphia,
Pa.
Post-office box 473, New Castle, Pa.
Post-office box 1471, Abilene, Tex.
c/o Federal Reserve Bank, Houston, Tex.
1310 Federal Commerce Trust Building, St.
Louis, Mo.
c/o Travelers Hotel, Sacramento, Calif.
164 West Jackson Boulevard, room 1209,
Chicago, 111.
1319 Thirteenth Avenue, Corsicana, Tex.
326 Ten Eyck Street, Watertown, N. Y.
1334 First National Soo Line Building, Minneapolis, Minn.
Federal Reserve Bank Building, Boston, Mass.
Sherman, Tex..
5456 Cornell Avenue, Apartment 2-D, Chicago, 111.
National Metropolitan Bank Building, Washington, D. C.
5381 Pershing Avenue, St. Louis, Mo.
406 Carsonia Avenue, Pennside, Reading, Pa.
c/o Division Insolvent National Banks, Office
Comptroller Currency,Treasury Department,
Washington, D. C.
309 Federal Building, Des Moines, Iowa.
Post-office box 337, Fort Worth, Tex.
638 H. W. Hellman Building, Los Angeles,
Calif.
Post-office box 1364, New Orleans, La.
Post-office box 463, Columbus, Ohio,

BEPOBT OF THE COMPTROLLER OF THE CUBEEKCY

81

NATIONAL BANK EXAMINEES-—Continued
F. R.
Dist.
No.

Address

Laufer, H. E
4
8
12
1
2
6
2

10

___

Laycoek, W. C
Lilly, John F
Linden, C. C
Logan, Jl M
Lorang, P. J
Luiken, John B
Luscombe, A. P
Lyon, C. W
Lyons, Gibbs (U)__.
McCall, W. P
McCans, A. B
McClain, J. S

12

9
12

McCoy, Thos. P
McGinnis, F. J
McLaren, D. D
McLean, C. H

2
10
8

McMullan, J R

5
2
12
1
2

Ockershausen, F. C_
O'Connor, T. J
Palmer, R. E. A
Parker, Edw. F
Penn, D. V

2
11
2
12

Petersen, F. R
Pierce, W. W
Pole, J. H

Machleid, C. J
3 Male, W. N
10 Mann, Stuart H
Medill, George L
8 Miller, P. V
12
3 Mooney, Russell E_
Morgan, C. E
5 Morgan, William M
1 Motter, Charles W_
10 Murphy, Daniel F__
9 Nelson, F. S
Nelson, Nels
4 Norman, Louis A__.
9 O'Bleness, E. J

Price, A. E

See footnotes
 at end of table.


164 West Jackson Boulevard, room 1209,
Chicago, 111.
General delivery, Somerset, Pa.
c/o La Fayette Hotel, Little Rock, Ark.
41)3 Empire State Building, Spokane, Wash.
Federal Reserve Bank Building, Boston, Mass.
525 Federal Reserve Bank Building, New
York, N. Y.
823 Comer Building, Birmingham, Ala.
525 Federal Reserve Bank Building, New York,
N. Y.
Post-office box 508, Norfolk, Nebr.
c/o Division Insolvent National Banks, Office
Comptroller of Currency, Treasury Department, Washington, D. C.
Federal Reserve Bank Building, Boston, Mass.
525 Federal Reserve Bank Building, New York,
N. Y.
717 First National Bank Building, Atlanta,
Ga.
155 Montgomery Street, room 1103, San
Francisco, Calif.
1500 Walnut Street, room 1503, Philadelphia,
Pa.
No. 14 Magill Block, Fargo, N. Dak.
638 H. W. Hellman Building, Los Angeles,
Calif.
National Metropolitan Bank Building, Washington, D. C.
184 Atlantic Avenue, Lynbrook, N. Y.
506 California Building, Denver, Colo.
1310 Federal Commerce Trust Building, St.
Louis, Mo.
Post-office box 32, Altoona, Pa.
800 Federal Reserve Bank Building, Kansas
City, Mo.
Post-office box 1092, Louisville, Ky.
522 Central Building, Seattle, Wash.
1500 Walnut Street, room 1503, Philadelphia,
Pa.
Post-office box 332, Raleigh, N. C.
31 Albion Street, Melrose Highlands, Mass.
202 Federal Building, Grand Island, Nebr.
1334 First National Soo Line Building, Minneapolis, Minn.
Post-office box 621, Cincinnati, Ohio.
201 Security National Bank Building, Sioux
Falls, S. Dak.
Post-office box 1162, Columbia, S. C.
Hotel Syracuse, Syracuse, N. Y.
327 Post-office Building, Pocatello, Idaho.
Federal Reserve Bank Building, Boston, Mass.
525 Federal Reserve Bank Building, New York,
N. Y.
Do.
Post-office box 1223, Shreveport, La.
525 Federal Reserve Bank Building, New York,
N. Y. •
155 Montgomery Street, room 1103, San
Francisco, Calif.

82

REPORT OF THE COMPTROLLER OF THE CURRENCY
NATIONAL BANK EXAMINERS—Continued

F. R.
Dist.
No.

Address

Prickett, Karl E . .
7
10
5

Quinn, Henry F_>.
Rafter, Charles T_
Ramsdell, P. C . _ .

3

Ransom, F. T

7

Regan, William A_

7
2

Reimers, D. H_
Rial, Ben P

2
10
11
10

Robinson, H. P_
Roetzel, G. F__.
Roots, J. O_
Ross, M. A,

4
12

Rossman, Richard.
Rummel, John T__

1
7
11
7

Ryan, Frank J__
Sanders, J. L
Sandlin, W. A__.
Schechter, W. J_

bo.

Schofield, John W. (U).
Seabury, R. M
Sedlacek, L. H
12

Sevison, Henry _
Shapirer, Leo
Shea, L. A_

11
3
4
4

Sheehan, W. F_
Shroyer, R. R__
Sibley, W. L.__
Siebert, J. H.__
Sims, M. H
Smith, E. T___
Smith, George F_ _
Smith, George H__

12

Snyder, Vernon G_
Spendrup, Max V-

8

Spires, John D

9

Stevens, L. T

_

Stewart, Adelia M.
5
2
12

525 Federal Reserve Bank Building, New York,
N. Y.
Post-office box 78, Grand Rapids, Mich.
Post-office box 296, Salina, Kans.
National Metropolitan Bank Building, Washington, D. C.
1500 Walnut Street, room 1503, Philadelphia,
Pa.
164 West Jackson Boulevard, room 1209,
Chicago, 111.
164 West Jackson Boulevard, Chicago, 111.
525 Federal Reserve Bank Building, New York,

Stewart, Charles A>
Stewart, H. E
Stobie, Charles A.
Stokes, H. F
Stover, L. W

Digitized for See footnotes at end of table.
FRASER


Post-office box 1091, Oklahoma City, Okla.
Post-office box 1062, Austin, Tex.
800 Federal Reserve Bank Building, Kansas
City, Mo.
Post-office box 1058, Pittsburgh, Pa.
155 Montgomery Street, room 1103, San Francisco, Calif.
Federal Reserve Bank Building, Boston, Mass.
Post-office box 592, Indianapolis, Ind.
1706 Republic Bank Building, Dallas, Tex.
405 Federal Reserve Bank Building, Detroit,
Mich.
1539 Hay worth Avenue, Hollywood, Calif.
Post-office box 920, Clarksburg, W. Va.
1334 First National Soo Line Building, Minneapolis, Minn.
309 Torrey Building, Duluth, Minn.
155 Montgomery Street, room 1103, San Francisco, Calif.
525 Federal Reserve Bank Building, New York,
N. Y.
Do.
Do.
Post-office box 1584, Waco, Tex.
Post-office box 491, Williamsport, Pa.
Post-office box 1058, Pittsburgh, Pa.
715 Federal Reserve Bank Building, Cleveland,
Ohio.
Post-office box 981, Harrisburg, Pa,
Apartment 702-A, Penn Albert Hotel, Greensburg, Pa.
Post-office box 231, Sunbury, Pa.
638 H. W. Hellman Building, Los Angeles,
Calif.
1310 Federal Commerce Trust Building, St.
Louis, Mo.
4929 Pleasant Avenue South, Minneapolis,
Minn.
Room 217, Office of Comptroller of Currency,
Treasury Department, Washington, D. C.~
Post-office box 97, East Falls Church, Va.
525 Federal Reserve Bank Building, New York,
N. Y.
Post-office box 313, Honolulu, Hawaii.
Post-office box 1185, Huntington, W. Va,
7040 Ruskin Lane, Philadelphia, Pa»

REPORT OF THE COMPTROLLER OF THE CURRENCY

83

NATIONAL BANE EXAMINERS—Continued
F. R. j
Dist. |
No. !

7 Stuart, Robert K__.
4 Swensen, Loren T_.
12 Taylor, 0. C
Taylor, W. M
12
9
9

Tolton, A. F
Van Brunt, L. J
Von Birgelen, F. M

12

Waldron, W. J

7
7

Walker, Harry W_.
Ward, M. M
Watts, John L

11
12
10

Whitehurst, W. M_
Wilde, Max C
Williams, E. L

12

Williams, T. B

2
7
4

Wilson, E. B
Wilson, G. R
Wilson, Verne J

11

Witt, G. T

5
8
9

Wood, D. R
Woodside, Hal
Wray, Harold L.._.

12

Wright, E. M
,
Young, William R_.

8

Address

Name

906 Michigan Avenue, Eyanston, 111.
75 Forest Drive, Painesvilie, Ohio.
638 H. W. Hellman Building, Los Angeles,
Calif.
National Metropolitan Bank Building, Washington, D. C.
1107-A Mattei Building, Fresno, Calif.
1716 St. Anthony Avenue, St. Paul, Minn.
1334 First National Soo Line Building, Minneapolis, Minn.
638 H. W. Hellman Building, Los Angeles,
Calif.
Hotel Witter, Wisconsin Rapids, Wis.
164 West Jackson Boulevard, room 1209,
Chicago, 111.
525 Federal Reserve Bank Building, New York,
N. Y.
Post-office box 1224, Amarillo, Tex.
514 Post-office Building, Portland, Oreg.
800 Federal Reserve Bank Building, Kansas
City, Mo.
638 H. W. Hellman Building, Los Angeles,
Calif.
Post-office box 607, Albany, N. Y.
Post-office box 589, Danville, 111.
715 Federal Reserve Bank Building, Cleveland,
Ohio.
504 Greenville Exchange National Bank Building, Greenville, Tex.
Pulaski National Bank Building, Pulaski, Va.
1248 Washington Avenue, Springfield, Mo.
1334 First National Soo Line Building, Minneapolis, Minn.
514 Post-office Building, Portland, Oreg.
407 First National Bank Building, Memphis,
Tenn.

(Rec)=Acting as receiver of a national bank.
(JG) =National bank examiner, junior grade,
(U)=Unassigned.

CONVICTIONS OF NATIONAL BANK OFFICERS AND OTHERS FOR
VIOLATIONS OF THE NATIONAL BANKING LAWS DURING THE
YEAR ENDED OCTOBER 31, 1930

Information furnished by the Department of Justice relative to
convictions during the year ended October 31, 1930, of officers and
employees of national banks, and others, for violations of the national
banking laws, is shown in the statement following.




00

Criminal cases under the national banking laws resulting in conviction during the year ended October SI, 1980
Name of officer and others
Albright, K. F
Alden, Howard C_
Angrove, William J_.
Anthony, T. A
Arnold, Otho W
Arthur. Lawrence A
Astle, J. Q
Bachman, Louis.
Becker, Arthur O_.
Benton, Harry T_,
Blanchard, M. C .
Blodgett, Robert M.
Boesch, F. W
Bugg, William L . .
Burroughs, E. W..
Burt, jr., Oscar J . .
Butt, Henry J
Campbell, Earl..
Caruth, R. T
, William J.
Chisppeta, Ermino..
Clark, Harold J
Clark, Herbert......

Position
Cashier.
....do...

Title and location of the bank

Offense

Sentence

3 years
False entry
1 year and 1 day, probaMisapplication..
tion 2 years.
Abstraction
1 year and 1 day
Teller
False entries, misapplication, ab- $500 fine
Presidentstraction.
3 years, sentence suspend'
Citizens National Trust & Savings Bank, Los Abstraction
Teller
ed 5 years.
Angeles, Calif.
Paying teller
Federal National Bank, Boston, Mass.
7 years
Embezzlement
Manager, Echo Citizens National Bank, Los Angeles, Calif
Embezzlement and false entries._. 3 years, probation
P a r k Sunset
branch.
Bookkeeper, Peoples National City Bank, New York, N. Y.
Misapplication and false entries... 2 years, suspended.......
Homestead
branch, Brooklyn.
Teller, Broadway Bank of Italy National Trust & Savings Asso- Embezzlement and false entries... 2 years, probation 5 years.
office at Los
ciation, San Francisco, Calif.
Angeles.
5 years, probation
False entry...
President
First National Bank, Seale, Ala
6 months, 2 years probaVice president
False entries.
First National Bank, Holtville, Calif...
tion.
Bookkeeper, Long Los Angeles First National Trust & Savings ..—do
3 years, probation
Beach branch.
Bank, Los Angeles, Calif.
$i,000 fine and sentence
Cashier
First National Bank, Amboy, Minn
False entry.,
suspended as to imprisonment.
United States National Bank, San Diego, Calif. Embezzlement and false entries.. 6 months, probation
Teller
1 year and 1 day
Atlantic National Bank, Jacksonville, Fla
_ Misapplication
....do
Aider and abettor
4 months
National Shawmut Bank, Boston, Mass
Bookkeeper, Peoples National City Bank, New York, N. Y
2 years, suspended
Misapplication
Homestead
branch, Brooklyn.
3 months
Assistant bookkeep- Eighth National Bank, Philadelphia, Pa..
Misappropriation.
ing department.
First National Bank, Coalville, Utah
15 months
Cashier
E mbezzlement
Daly City branch, Bank of Italy Trust & Savings Aider and abettor..
8 years
Association, Los Angeles, Calif.
2 years
Bookkeeper, Yreka Bank of Italy National Trust & Savings Associa- False entries
tion, San Francisco, Calif.
branch$1,500fineand 18 months,
Blackwell National Bank, Blackwell, Okla
Cashier
0)probation.
Messenger.
Second National Bank, New Haven, Conn
1 year, probation l.year...
E mbezzlement2 years, probation.......
Teller, Los Gatos Bank of Italy National Trust & Savings Association, San Francisco, Calif,
branch.




First National Bank, Littlefield, Tex
Tanners National Bank, Woburn, Mass
Whitestown National Bank, Whitesboro, N. Y.
First National Bank, Wausa, Nebr

Date of sentence
June 18,1930
Apr. 28, 1930

3

C1)
Jan. 23,1930

W
H

July

7,1930

O

Mar. 26,1930
May 19,1930

H

(•)

O

Apr. 14,1930

o
H

Oct. 27,1930
Aug. 16,1930

0)
Mar. 4,1930

(0

(-3-

Feb. 4,1930
Apr. 14,1930

W

Mar. 11,1930

O
cj
50

M

Jan. 18,1930
Sept. 20,1930
Feb. 28,1930
Jan.

8,1930

0

Mar. 8,1930

o

Colloty, Garrett L
, Qornelius,, jr., Abraham.
Cornwell, William J
Cowger, Francis
Crtiickshank, Lyall.
Cvengros, John J
Daniels, Claude W

Bookkeeper, Daly
City branch.
Cashier..Bookkeeper, Peoples
Homestead
branch, Brooklyn.
Assistant cashier
Manager, Whittier
Lorena
branch,
Los Angeles.
Teller

Dawkins, R. H
Dooley, James
Doremus, Mrs. Frances _.

Bookkeeper and relief teller.
Director
Teller
Bookkeeper

Dbugal, Robert
Dougherty, John
Dowling, Harvey C . .
Dowling, Horace O...
Dowling, J. R
Drummond, John D_
Dubois, Leo F
Dunn, NeilH._
Frazer, J. Stuart

Director.,
.doCashier
Teller
Receiving teller.
President
Director
_

Galloway, C. A
Ganong, Arthur F_.
Goldberg, H

President
Manager, Oakland
branch.
E m p l o y e e , head
office, Los Angeles
Division.
Collection teller

G ray, Clarence J
Gross, E. H
Gunder, William M .
Hammerman, William
Hansen, A. H
Hayes, James K_.
Holloway, A. H
Holman, Jesse D
Holman, Y. Allen_.

.do.
Citizens National Bank, Englewood, N. J..
National City Bank, New York, N. Y

Misapplication...

4 years

Sept. 20,1930

Embezzlement...
Misapplication...

2 years, suspended.
do...

Apr. 21,1930
0)

Commercial National Bank, Ainsworth, Nebr.. Embezzlement and false entries
Bank of Italy National Trust & Savings Associa- Embezzlement
tion, San Francisco, Calif.

5 years, probation
Sept. 25,1930
1 year, probation 2 years. _ Feb. 17,1930

Merchants & Miners National Bank, Ironwood,
Mich.
First National Bank in Fresno, Calif.

.do.

3 years

June 12,1930

.do.

11 months..

June 10,1930

I

$250 fine....
13 months..
1 year

July 14,1930
Mar. 12,1930
May 12,1930

•+•3

o

Conspiracy
Embezzlement
Misapplication

Teller

First National Bank, Samson, Ala
Second National Bank, Cincinnati, Ohio
Peoples National Bank & Trust Co., Belleville,
N. J.
First National Bank, Concord, N . H

False entries

May 6,1930

w

Assistant cashier

First National Bank, Little Falls, Minn.

Embezzlement and false entry. _.

Apr. 29,1930

o
o

$75 and costs, 6 months,
probation 1 year.
4 years, probation granted
second count after serving sentence first count.
First National Bank, Ozark, Ala..
Misapplication,
$250
fine
.do
.._.
do
do
.do..
.do
do
Merchants National Bank, Poughkeepsie, N. Y. Embezzlement,
2 years, probation
Merchants National Bank, Manchester, N. H_.
.do3 years
First National Bank, Hastings, Nebr
False entries and misapplication.. $1,000 fine
National Bank of Clayville, N. Y.; Utica Na- 0)
Court suspended impositional Bank & Trust Co., Utica, N. Y.
tion sentence for 4 years
during good behavior.
Liberty National Bank, Weathersford, Okla
$1,200 fine
0)Bank of Italy National Trust & Savings Asso- Misapplication and false entires.. 1 year
ciation, San Francisco, Calif.
do
3 years, probation
Embezzlement

United States National Bank, Portland Oreg.-.
First National Bank, Culver City, Calif
Merchants National Trust & Savings Bank,
Los Angeles, Calif.
Bank of Italy National Trust & Savings Association, San Francisco, Calif.
Elmhurst National Bank, Elmhurst, N. Y
Citizens National Trust & Savings Bank, Los
Angeles, Calif.
Assistant cashier.
Salisbury National Bank, Salisbury, Md
First National Bank, Ozark, Ala
,
Director
do
i Information not supplied*
Pro-manager, Vernon office.
Assistant cashier
and teller.
President..
Employee
_.




2 June 3,1929
Do.*
Do.*
May 12,1930
Dec. 17,1929
Jan. 6,1930

O

0)

P

June 12,1930
June 3,1930

2
^

Feb. 17,1930

y

Misappropriation.
Aider and abettor.

0)

do
13 months..
15 months..

Mar. 27,1930
July 15,1930
Mar. 17,1930

Embezzlement..

3 years, probation.

Apr. 28,1930

MisapplicationEmbezzlement..

Paroled
3 years, probation
Misapplication and false entries.. 2 years and 6 months..
Misapplication
$500 fine.
Aider and abettor
$250 fine
2 Not previously reported.

0)

Oct. 14,1930

2 June 3,1929
July 17,1930

3
a

Criminal cases under the national banking laws resulting in conviction during the year ended October SI, 19S0—Continued
Name of officer and others

Howell, A. L._.
Huff, jr., F. E.
Hunter, C. H_.
Hutchinson, Robert Winfield.
Ingle, Arthur T
Innis, Frank J
James, George
-

Jones, Cyrus
Kempf, William
Kershow, John M
Kimball, George W
Kiemaim, Herbert E

Title and location of the bank

Teller, Roseville
branch.
Assistant cashier
Bookkeeper
Cashier

Hoobler, Wayne E_

Johnson, Harold

Bank of Italy National Trust & Savings Association, San Francisco. Calif.
First National Bank, Samson, Ala
First National Bank, Las Cruces, N. Mex
Unaka & City National Bank, Johnson City,
Tenn.
National Shawmut Bank, Boston, Mass

Embezzlement and abstraction

2 years, probation

May 19,1930

Conspiracy
Misapplication..
Embezzlement..

4 months and $600 fine
3 years, probation
6 years and costs

July 14; 1930
Dec. 31,1929
Mar. 7,193C

0)

6 months, probation..

Apr. 14,1930

First National Bank, Sevierville, Tenn_.
First National Bank, Columbus, Ohio...
Chase National Bank, New York, N. Y_

False certification of check.
False statement
Theft

$1,000 in lieu of costs2 years, probation
5 years, probation

Jan. 13,1930
Apr. 25,1930
«June 26,1929

Marine National Bank, Erie, Pa—

Embezzlement, forgery, and coun- 3 years
terfeiting.
Embezzlement and false entries... 15 months,,,
2 years

Teller, Stuart-Tremont office.
Cashier.
Employee
Receiving teller,
Prince
Street
branch.
Messenger and mail
clerk.
Teller
Assistant manager
foreign exchange
department.
Teller
.....do

•

First National Bank, El Paso, Tex
National Bank of Republic, Chicago, 111.

•

(»)

Bookkeeper.
Note teller..

Ogden National Bank, Chicago, I1L

Kluskins, William
Kuratko, F. J
Lamar, Nelson E

.doAssistant cashier
Teller

Larkin, Leon F

Lowry, J. B. F—.
Lundelius, C. A . .
Lyne, Oscar
Marklin, J . H . . . .
Marsh, George F .

-doFirst National Bank, Smithville, Tex
First Camden National Bank & Trust Co., Camden, N. J.
Transit manager
Third National Bank & Trust Co., Springfield,
Mass.
Cashier and director. First National Bank, Commerce, Okla
Bookkeeper, Chico Bank of Italy National Trust & Savings Assobranch.
ciation, San Francisco, Calif.
Peoples Homestead branch, Brooklyn, National
City Bank, New York, N. Y.
Vice president
Hamilton National Bank, Chattanooga, Tenn_.
Exchange teller
American National Bank, Austin, Tex
Bookkeeper
Fayette National Bank, Lexington, Ky
Assistant cashier
American National Bank, Findlay, Ohio
Teller, Daly City Bank of Italy National Trust <e Savings Assof
branch.
ciation, San Francisco, Calif.




3
a
O

Kleuskens, Wilfred G__.

Lee, G.W
Le Veque, James Oliver.

Sentence

Offense

Marcus Hook National Bank, Marcus Hook, Pa. Embezzlement..
First National Bank of Lawrence County, New . . - . d o
Castle, Pa.
First National Bank, Elmhurst, 111
-do..

Locker, Max

Date of sentence

Position

.do..
<*)Embezzlement and false entry.
Embezzlement

a Sept. 24,1929

Apr. 30,1930
Jan. 28,1930

1 year, probation 3 years.. Dec. 17,1929
Jan. 27,1930
8 months
1 year and 1 day, probation May 7,1930
2 years.
6 months, 2 years proba0)
tion.
Jan. 29,1930
May 10,1930
.do.
May 23,1930
2 years, probation.
3 years

Oct. 20,1930

Corrupt practices.
0)

$50 fine.-..
6 months..

Jan. 17,1930
Jan. 28,1930

Aider and abettor.

$1 fine

Embezzlement and false entry
Embezzlement
-

3 years
ZH years
5 years, sentence suspended
2 years and costs
2 years, probation

.do-

Misapplication

o
g

Nov.
May
Jan.
June
Sept.

13,1929
31,1930
22,1930
16,1930
20,1930

W
O

3

1
3

Cashier

Maurer, A. R.
Maurer, Helen
MeCracken, J. H
bo McMullen, Miss Zeta
w McNeil, F. B
^P Merkle, Fred
Miller, Edward.
Miller, Peter J
Millis,JohnM
Morris, John F

Assistant cashier
Employee..
Assistant cashier
Cashier
do
Clerk

Munson, Richard G
Nikkei, C.L
O'Reilly, Charles W..
Pate, Oscar
_
Polk, Joel P
._..
Polk, Mrs. Mima Jones...
Pritchett, Frank J
Ramos, J. 0
Redgrave, W . J _
Reed, Charles H.
Reynolds, T. EL.
Richardson, A. Clark..
Rivers, William D
Roberts, Charles V.H..
Roberts, Oliver Steel. Roche, James
Rose, William H.
Rosetti, William..
Ryon, Fred..
Sehwarzbaeh, A. T.
S chwey er, Philip A - „..

Embezzlement, abstraction, misapplication, and false entries,
do .
..do.
o
Scottsbluff National Bank, Scottsbluff, Nebr.... Embezzlement and false entries...
First National Bank, Breckenridge, Minn
False entries
First National Bank, Durango, Colo
Embezzlement..
Passaic National Bank & Trust Co., Passaic, Misapplication..
N. J.
First National Bank, Windham, N. Y
Embezzlement..
First National Bank, South Plainfield, N. J
C1)
First National Bank, Russell, Ky
Embezzlement,
Hartford National Bank & Trust Co., Hartford,
Conn.
First National Bank, Windham, N. Y
.do.

Cashier
,-do-do.
do
Teller
do__..
Cashier
Employee
Teller
Manager, Glassell
Park branch.
Teller, Imperial
Valley branch, El
Centre
j Teller, Broadway
and F l o r e n c e
branch.
Collection teller

Liberty National Bank, Weathersford, Okla
National Bank of Ridgewood in New York,
N.Y.
City National Bank, Sweet water, Tex
_.
Douglass National Bank, Chicago, 111
.do.
First National Bank, Culver City, Calif
United States National Bank, Los Angeles,
Calif.
National City Bank, Los Angeles, Calif
United States National Bank, Los Angeles,
Calif.
Bank of Italy National Trust & Savings Association, San Francisco, Calif.
Security First National Bank, Los Angeles,
Calif.
Burns National Bank, St. Joseph, Mo
National Bank of Jerseyville, Jerseyville, 111
Fletcher American National Bank, Indianapolis,
Teller.
Ind.
National Bank of the Republic, Chicago, III.
Messenger
National Bank & Trust Co. of Boyertown,
Messenger and colBoyertown, Pa.
lector.
Assistant p a y i n g Bowery & East River National Bank, New
York, N. Y.
teller.
Paying and receiv- Merchants Bank & Trust Co., Washington,
D. C.
ing teller.
South Texas National Banky Galveston, Ter_...
Cashier.
National City Bank, New York, N. Y._„._.„..
Bookkeeper, Peoples
Homestead
branch, Brooklyn,
^Information not supplied.




5 years, suspended.

--- First National Bank, Kingsbury, Tex..

Assistant cashier.
do
Bookkeeper

2 years
5 years, probation
5 years and $1,000 fine,
probation.
1 year and 1 day
6 months, probation
Imposition of sentence
suspended.
1 year and 1 day
5 years
1 year and $250 fine

(0

June 9,1930
Jan. 11,1930
Jan. 25,1930
Apr. 2,1930
1

C)

Pi

o

Feb. 10,1930
May 31,1930
CO
CO

Imposition of sentence
suspended.
$1,200
fine
, June 12,1930
Jan. 22,1930
Misapplication and false entries... 1 year and 6 months

Embezzlement and false entries
Aider and abettor
Embezzlement
Misapplication
Misapplication, embezzlement, and
false entries.
Misapplication
Embezzlement and false entries
Embezzlement
Misapplication.

Embezzlement
Aider and abettor
„__
Embezzlement.........
.do
.do
.do..
..do,,

.

3 years
6 months, probation 1 year.
I year and 1 day
23 months
...
21 months, probation 3
years.

II months, probation
11 months, probation 2
years.
2H years, probation 5
years.
3 years, probation 5 years

Apr. 22,1930
Nov. 25,1929
July 15,1930
Mar. 31,1930
Mar. 17,1930
Apr. 22,1930

Jan. 13,1930

g

Sept. 15,1930

3 years..
J 1 year and $770 fine.
j 1 year and 1 day

Mar. 3,1930
Mar. 6,1930
Sept, 26,1930

! 3years,probation5years.I 3 years in jail, probation..
2 years, sentence suspended to 2 years' probation.
_! 2 years, probation

June 23,1930
Sept. 15,1930
Apr, 14,1930
Mar, 8,1930

B

%
B

a

False entries.-.----..
„>._..._! 3 years,.
._..._„. June 26,1930
Misapplication._.-._.-.._»..._....; 2 years, suspended„.„„,
* Not previously reported.

00

Criminal cases under the national banking laws resulting in conviction during the year ended October 81, 1980—Continued
Name of officer and others
Scofield, K. L
Sebatino, Pasquale.
Seibert, O. A._.
Smith, Warren-

Position
Assistant cashier.
do
Paying teller..
Employee

Title and location of the bank

National Bank of Norwalk, Norwalk, Conn
First National Bank, Roseto, Pa
Ogden National Bank, Chicago, 111
Merchants National Trust & Savings Bank,
Los Angeles, Calif.
Stanziale, Edward..
Peoples National Bank & Trust Co., Belleville,
Manager, school- Lincoln National Bank & Trust Co., Fort
Stoner, Miss Erna..
savings departWayne, Ind.
ment.
Teller, Broadway Security First National Bank, Los Angeles,
Stufgis, Robert Clifton
and F l o r e n c e
Calif.
branch.
Sullivan, Dorothy (Mrs. B ookkeeper-stenog- First National Bank, Stanley, N. Dak
R. C. Fenstermacher).
rapher.
Sullivan, F. Ralph.
Bookkeeper
Citizens National Bank, Frostburg, Md
Upham, Joseph R
Escrow manager, Citizens National Bank, Los Angeles, Calif
Western and Second Street branch.
T e l l e r , Glendale Security First National Bank, Los Angeles,
Walker, John W.
branch.
Calif.
Loan clerk, Seventy- Chase National Bank, New York, N. Y
Wall, B. Nelson..
second S t r e e t
branch.
Assistant p a y i n g Hudson County National Bank, Jersey City,
Weber, Earl J
.„..
teller.
N. J.
WestbrookE
Teller
_ National Union Bank, Rock Hill, S. C
Westergaard, C. P. Solem.. Employee foreign de- Chatham Phenix National Bank, New York,
partment.
N.Y.
Westfall, R. R..._
First National Bank, Culver City, Calif
White, J. C
Columbia National Bank, Columbia, S. C
Clerk
Wiggins, Thomas
Assistant receiving Eighth National Bank, Philadelphia, Pa
teller.
Vice president and First National Bank, Commerce, Okla
Wyatt, N. W
director.
Employee, Main and Security First National Bank, Los Angeles, Calif.
Young, Lawrence..
Washington
branch.
Teller
United States National Bank, Los Angeles, Calif.
Zuppann, C. D.
1

Information not supplied




Offense

Sentence

Misapplication
$1,500 without costs .
Embezzlement, false entries, and 2 years
false statement.
Embezzlement
5 years
18 months, probation, sus....do
pended 4 years.
5 years
Aider and abettor.

Date of sentence
June 18,1930
Sept. 15,1930
(0
July 14,1930

May 12,1930
Embezzlement, misapplication, 2 years, probation 2 years, May 1,1930
and $100 fine.
and false entries.
3 years, 5 years probation.. Sept. 15,1930
Misapplication
0).
0)
•
Embezzlement..

1 day in custody, United Jan. 14,1930
States marshal.
15 months, suspended
Apr. 10,1930
3 years
Oct. 13,1930

Misapplication and abstraction... 4 years, probation..
Embezzlement
2 years, suspended.
Embezzlement and false entries. __ 6 years .
1 year.......
2H years and 5 years,5-year
sentence suspended.
13 months....
T_._
30 days
3 months

Embezzlement
Abstraction and misapplication
Aider and abettor.
Misapplication
False entries, misapplication, and
abstraction.
Corrupt practices
_.

I
w
w
o
o
g
o

Sept. 29,1930
May 29,1930
Nov. 12,1929
Mar. 12,1930
May 19,1930
July 15,1930
Mar. 21,1930
Mar. 11,1930
Jan. 17,1930

Misapplication and false entries

$50 fine
4 years, probation-

Embezzlement..

8 months, probation 2 years. May 20,1930

Sept. 22,1930

o

n

FEDERAL RESERVE BANKS
•Assets and liabilities of the 12 Federal reserve banks combined, as of the last weekly statement date in October, from 1921 to 1980
[In thousands of dollars]
Oct. 26,1921 Oct. 25,1922 Oct. 31,1923 Oct. 29,1924 Oct. 28,1925! Oct. 27, 192f Oct. 26,1927 Oct. 31,1928 Oct. 30,1929 Oct. 29,1930

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
,

2, 786, 239
150,909

3,085,093

0)

3,111,078
80,067
39,152
883,800

2,782, 549

91,837
317
611,271
69,047

3, 043,826
87,768
42,300
222, 565
215,404
584,200
2,007
611,709
87,490

110,511
52, 932
589,994
328,717

74,449

2,956, 552
135, 793
61,137
402,398
301, 111
510, 630
620
688,277
73,497

2,641,096
131,900
56,874
932,271
440,376
227,099
3,730
694,479
70,213

3,020,951
156,057
85, 276
991,038
339,885
292.688
25; 131
772,955
70,382

3,037,193
154, 581
71,364
201, 603
165, 658
601,438
6,322
526, 697
91,327

2,323,327
130,750
52,841
631,923
307, 541
300,174
2,500

o

469,399
257,691
408,636
27
653,483
63,931

5,094,915

Total.

1, 308, 749
62,316
190,946
10
540,067
55,679

5,065,095

5,091,267

4,897,269

4,960,423

5,017,063

5,130,015

5,198,038

5,754,363

4,856,183

2,408,779
88,024

2, 298, 536
37,995

2, 224,865

1, 766,622

1,694,771

1, 730,511

1, 702,999

1,709,816

1, 880,192

1, 354,881

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

2, 227,212
38,670
31,382
617,350
116,602
217,837

2, 216,896
38,546
638,465
124,392
220,310
22,254

2,351,870
19,294
32,287
646, 615
131,293
228,775
16.882

2,370,988
20,498
27,536
655,508
145,878
233,319
34,495

2,651,608
18,967
25,896
714,209
167,025
254,398
42,068

2,468,280
26, 674
24,457
517,004
170,444
276,936
17,507

I
S

5,094,915

5,065,095

5,091,267

4,897,269

4,960,423

5,017,063

5,130,015

5,198,038

5,754,363

4,856,183

Q

324, 757
6,619
684,027
80,317

W
IS

c

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

27,351
566, 510
111, 953
220, 915
13,305

Not shown separately prior to 1923.




a.
K

00

90

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, 1926, to October, 1930
[In millions of dollars]
Assets
Liabilities
Bills and securities

Date

Reserves

United

Bills States
Bills bought Governdisment Total i
counted in open securimarket

Federal

1926

1927
Jan. 26
Feb. 23
Mar. 30
Apr. 27__._._
May 25
June 29
_
July 27.i„•-:_
Aug. 31
Sept. 28
Oct. 26
Nov. 30
Dec. 28.
1928
Jan. 25
Feb. 29..____
Mar. 28
Apr. 25
May 29
June 27
July 25
Aug. 29
Sept. 26
Oct. 31
Nov. 28
Dec. 26
1929
Jan. 30
Feb. 27
Mar. 27
Apr. 24
May 29
June 26
July 31
Aug. 28
Sept. 25
Oct. 30
Nov. 27
Dec. 31
1930
Jan. 29
Feb. 26
Mar. 26
Apr. 30
May 28
June 25
July 30
Aug. 27
Sept. 24
Oct. 29

Capital

Gold

and
Total notes in Memcircula- bers' Total surplus
tion reserve

ties

Jan.27
Feb. 24
Mar. 31
Apr. 28
May 26
June 30
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 29.

Deposits

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
lf242
1,271
1,410

2,801
2,767
2,767
2,797
2,816
2,835
2,851
2,841
2,807
2,823
2,830
2,815

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
% 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

365
398
456
444
429
477
398
401
430
402
477
609

302
280
237
242
236
216
169
185
242
301
355

303
305
353
318
322
376
385
473
494
511
548
603

972
985
1,049
1,006
989
1,071
954
1,059
1,168
1,215
1,381
1,599

2,967
2,983
3,022
3,041
3,012
3,021
3,023
2,998
2,989
2,957
2,805
2,739

3,133
3,141
3,183
3,207
3,178
3,184
3,181
3,146
3,126
3,093
2,940
2,862

1,688
1,708
1,711
1,718
1,706
1,703
1,662
1,676
1,706
1,703
1,717
1,813

2,192
2,166
2,274
2,270
2,268
2,342
2,282
2,299
2,337
2,352
2,379
2,432

2,245
2,215
2,328
2,314
2,326
2,399
2,330
2,341
2,390
2,404
2,413
2,473

385
493
524
709
944
1,032
1,025
1,039
1,011
932
990
1,168

347
344
346
366
304
223
169
184
263
440
482
489

441
408
386
305
219
212
208
209
229
227
229
232

1,174
1,245
1,257
1,381
1,468
1,468
1,402
1,433
1,508
1,603
1,706
1,899

2,819
2,808
2,760
2,723
2,607
2,583
2,604
2,619
2,633
2,641
2,600
2,584

2,988
2,974
2,931
2,886
2,757
2,738
2,761
2,765
2,771
2,773
2,722
2,689

1,585
1,588
1,567
1,573
1,593
1,605
1,607
1,651
1,682
1,710
1,766
1,911

2,355
2,375
2,357
2,417
2,357
2,345
2,300
2,269
2,316
2,371
2,361
2,409

2,402
2,426
2,404
2,475
2,408
2,382
2,346
2,325
2,366
2,419
2,411
2,455

821
952
1,024
975
988
1,017
1,076
974
944
991
912
632

436
334
208
141
118
83
75
157
264
340
257
392

202
166
170
150
145
150
147
145
152
293
326
511

1,467
1,463
1,410
1,281
1,259
1,262
1,308
1,292
1,375
1,649
1,514
1,548

2,667
2,687
2,709
2,799
2,824
2,896
2,924
2,962
2,998
3,021
2,987
2,857

2,835
2,844
2,879
2,973
2,970
3,073
3,109
3,149
3,162
3,177
3,135
3,011

1,645
1,654
1,653
1,653
1,654
1,658
1,779
1,829
1,838
1,880
1,930
1,910

2,391
2,367
2,290
2,286
2,344
2,355
2,306
2,364
2,652
2,376
2,355

2,437
2,413
2,383
2,350
2,331
2,420

407
343
207
233
247
232
197
193
167
202

258
299
256
210
176
102
131
163
198
166

477
483
529
530
530
577
576
602
602
601

1,154
1,139
1,001
982
959
916
912
967
973
975

2,985
2,990
3,051
3,073
3,057
3,059
3,005
2,956
2,989
3,037

3,188
3,187
3,242
3,252
3,221
3,232
3,178
3,120
3,141
3,192

1,702
1,637
1,573
1,507
1,466
1,403
1,335
1,337
1,348
1,355

2,308
2,346
2,340
2,385
2,347
2,386
2,415
2,419
2,416
2,468

2,348
2,446
2,696
2,437
2,414
2,369
2,408
2,388
2,434
2,421
2,459
2,469
2,470
2,484
2,519

'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 OF THE CURRENCY

91

Percentage of bills discounted secured by United States Government obligations to
total bills discounted and purchased by Federal reserve banks at end of each month,
year ended October 81, 1930
Percentage of
discounted bills
Discounted
secured by
bills secured by Total holdings Government
of
United States anddiscounted obligations to
purchased total holdings
Government
bills
obligations
of discounted
and purchased
bills

Data

1929
Nov. 30
Dec, 31

$535,100, 000 $1, 286, 517,000
353, 528, 000 1, 024, 630, 000

-

41. 6
34. 5

1930

Jan. 31
Feb. 2 8 . - —
Mar, 31
Apr. 30
May 31
June 30
July 31
Aug. 31
Sept. 30
Oct.31

208,175, 000
182,005,000
172, 272, 000
105, 979, 000
132,657,000
108,473,000
66, 645, 000
66,909,000
105,837,000
74, 513, 000

688, 541, 000
623,167, 000
588,764,000
443,016,000
497,668,000
399,666,000
329,647,000
382,606,000
481,103, 000
369,960,000

30.2
29.2
29.3
23.9
26.7
27,1
20.2
17,, 5
22,, 0
20.1

Federal reserve bank discount rates

The discount rates of each of the 12 Federal reserve banks in effect
November 1, 1930, 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

_..

Rate in
effect on
Nov. 1
3
3H
3H

m

Date
established
July
June
July
June
July
July

3
20
3
7
18
12

Previous
rate
3^i
3
4
4
4
4

Federal reserve
bank
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco

Rate in
effect on
Nov. 1
ZH
3H
3H

Date
established

Previous
rate

June 21
Aug. 7
Sept. 12
Aug. 15
Sept. 9
Aua. S

4
4
4
4
4
4

Discount rates prevailing in Federal reserve bank and branch cities

Inthe table following, prepared by the Federal Reserve Board and
published in the Federal Reserve Bulletin for November, 1930, 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, August, September, and October, 1930,
Rates from about 200 banks with loans exceeding $8,000,000,000,




Federal reserve bank and branch cities
Prime commercial paper

Loans secured by prime
stock-exchange collateral

Loans secured by warehouse
receipts

Interbank loans

Federal reserve bank or branch city
August
Boston
New York
,
Buffalo
Philadelphia _ „ .
Cleveland
Cincinnati
Pittsburgh
Richmond
Baltimore
Charlotte
Atlanta
Birmingham
Jacksonville
Nashville
New Orleans
Chicago
Detroit
St. Louis
Little Rock
Louisville.. _ - - Minneapolis
Helena
Kansas City
Denver
••
_
Oklahoma City.
Omaha
Dallas
-El Paso
—
Houston
San Antonio
San Francisco—
Los Angeles
Portland
Salt Lake C i t y Seattle.Spokane

September

5 -6

4
534-6

4
5
5
4

5 -6
5 -5}

-5H
-6
-5
-5

H
5 -6
5 -5H
634-7'
5H-7
4H-5
6
6
5 -5H
5 -5H
4 -5
4 -5
'4M-6
'4M-8
4-jK
4 -4H
4 -5
8
434-5
5 -6

6 -8
6
6
5 -6
6
534-6

434-5
6 -6
5
6 -8

October

August

5 -6
4 -43>
4 -5
5 -6
6 -6
43^-5

iU-5
434-5
53^-6
43^-6
5V2-6
5 -6
53^-6
5 -5H

5 -6
4 -6

6
5 -6

V5H

September

October

August

4 -5
534-6
4H-6
5 -6
5 -6
5 -6

434-5
4 -5
534-6
434-6
5 -6
5 -6
534-6
534-6

5 -6

634-7

6
5 -6
53^-7
6H7

5 -6
5 -6
6 -7
6
5 -6
8
5^-6

5 -6
5 -5M
6 -7
6
5 -G
8
534-6

534-7

6
6

43^-5
5 -6
5 -53*

Pi

6 -8

534-6
6 -6>
5 -5>
6
6
6
6
6

53/2-6
o

6 -7
6 -7
6 -8
6
6 -8
5 -5H

6 -7
6 -8

6 -7
6
6 -6M
5 -6
5 -6
6 -7
-6
8
534-6
53^-6

6 -6H

6 -8
6
6 -7
5 -6
6 -63^

6 -7
6
6

6
6 -6*
634-7

6 -7

6 -63,
5 -6
6 -7

6
5 -6
5 -6
6
6

October

5 -5
4 -5
6
5 -6
4 -6
534-6H
6

534-6

Pi
534-6
534-6

5
6
4
6
5
6
6

6
-6
-7
6
-43
-8
-6
-8
-8
6

5 -5

534-6

5 -6
6 -8
V2r

6 -7
6 -7
7
7
7

6 -7
6 -7
6 -7
7
7

6 -8

August

4
4 -AH
5 -6
4 -5
5 -6

4M-5
5 -6
6
5 -53,
6
6

September
4
4 -±\
5
4 -5
5 -6
5 -5}
5 -6
5 -6
5
5 -6'
6
534-6

October

5 -6
5 -6
4H-5
5 -6
6
5 -6H
5 -6

5 -6

5 -6

5 ~h

5 -6

4^-5
6
5 -6
6 -7
6
4
^
6 -8
5 -6
-8
6 -8
5 -6

6 -6

634-7

September

5 -6H
6
5 -5H
514-6
6 -8
5M-6

534-6
53^-6
6
6
6
5 -by
5 -6
5 -6

534^6
6
6
6
5 -by
6
5 -6
6
' 5
6
6
6
6
6

534-6
5 -by
5 -6
5 -6
6
5
534-6
6
53/f-6

-ey2

' Revised.
NOTE.—Rates shown are those at which the bulk of the loans of each class were made by representative banks during week ending 15th of niorrth. Rates from about 200 banks
with loans exceeding $8,000,000,000




REPORT OF THE COMPTROLLER OF THE CURRENCY

93

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, 1930, together with
information in relation to the range of rates in New York since 1921,
is shown in the following statements furnished by the Commercial
and Financial Chronicle:
Rates for money in New York
1930

1929

November
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...

December

January February

43^-6

4

March

April

3

-6

-4

434-5
1930—Continued
May

3 -3K

Call loans, stock exchange:
. Range..
Time loans:
60 days
• 90 d a y s —
4 months
5 months
6 months
Commercial paper:
Choice, 4 to 6 months.
Good, 4 to 6 months...

June

134-3

July

August

2 -3

2 -2H

234-3
3^-4
3M-4
3H-4 *

91/

Septem- October
ber

91/

^

2^-33!
3 -3H
3 -V/i

93/

2^-3
3 -3M
3 -3M

2 -2X

2Hm

3

Rates for sterling bills
[Range for month]
Sight
1929
November..
December
January
February
March
April
May
June
July
August
September
October

_
_.
_

_

.__




-

1930

4.86% -4.87^
4. 87H -4.88
4. 86^2 -4. 87%
4.853/2 -4.86H
4.85H -4. 86i% e
4.85i%
4.851^2-4. 86Me
4.85M6 -4. 853^2
4.85% -4.87
4.86H
4.85H - 4 862^2
-4.86

Cable transfers

4.88
-4.87M«
4.872^2-4. 881 fU
' 4.86H^2-4.88U.j
4.85% - 4 . 8 6 ^
4.85% -4.87^3
4.86He -4.86-H
4.85% -4.86^2
4. 8521^2-4. 86^3
4.86
-4. 87% 3
4.862^2-4.87% 3
4. 85i%6-4. 86i%a
4.852^2-4.86%a

Comparison of the range of rates for call loans, 60-day time loans, and choice commercial paper loans in NewYork annually for 1921 to 1930 is shown in the statement following:
Range of rates for money in New York annually, 1921 to 1980
.

1921

1922

1923

1025

1924

3

Range
Range Range
Range Range
Range Range
Range
Range Range
High Low for DeHigh Low for Defor
for
High Low for Defor
for
High Low for Defor
High Low for December January
cember January
cember January
January
cember January
cember

Call loans ,. . _. „ . 6 -8
Time loans (60 days)
6 -7H
Commercial paper
(choice)

9
8

5
5

2

5 -h\i

3 -6

6

4^f2

6

5 -5M

3K

6
5

2
2 2 H -3M

2 -5H

4H

&%-&%

5

3

3K"3%

H
O

2

6
5

O

o
1927

1926

1928

1929

1930

Range Range
Range Range
Range
Range Range
Range Range
Range
High Low tor OcHigh Low for DeHigh Low for DeHigh Low for Defor
for
for
for
for
High Low for December January
cember J a n u a r y
cember January
January
cember January
tober

Call loans
Time loans (60 days)....
Commercial paper
(choice)

4 -6

4 -4H




6

3

4^2-6

4 -5
4 -4K

5

z

4 -5}4
4 -i}4

12

3H 6
4H 7

-12
- 8

6 -12-

20

fi

4H-5
5

5

4 -6

2-2

6
5
5

3

o

3

H

2

W

a
d

BEPORT OF THE COMPTROLLER OF THE CURRENCY

95

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, 1930, disclose there were 23 banks comprising the
New York Clearing House Association with capital of $622,225,300.
Clearings amounted to $399,471,637,874, a reduction in the year of
$57,466,309,439, and balances reported aggregating $56,638,163,114
showed an increase in the year of $6,176,128,807. The average daily
clearings amounted to $1,318,388,244 and the average daily balances
$186,924,631. The percentage of balances to clearings was 14.18.
CLEARING-HOUSE ASSOCIATIONS IN THE 12 FEDERAL RESERVE
BANK CITIES AND ELSEWHERE

Clearing-house transactions in the 12 Federal reserve bank cities
during the year ended September 30, 1930, aggregated $528,574,794,000, a#reduction in the year of $69,113,654,000. The ratio of
bank clearings in the 12 Federal reserve bank cities was 84.79 per
cent of the total clearings of all banks in 253 reporting cities in the
United States, in comparison with a ratio of 83.74 per cent reported
for 244 cities last year.
Clearings of banks in 22 other principal cities, each of which had
clearings in excess of $1,000,000,000, amounted to $59,057,425,000,
and showed a, decrease of $7,078,576,000 in clearings reported for the
same cities in the preceding year. The total clearings of the 253
cities reporting to the New York Clearing House Association in the
current year aggregated $623,402,669,000, as compared with $704,393,539,000 reported by these cities in the preceding year.
Tables showing the following information are published in the
appendix of this report: Comparative statement of transactions of
the New York Clearing House, annually since 1854; comparative
statement of transactions of the New York Clearing House in years
ended September 30, 1930 and 1929; 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, 1930 and 1929; and comparative statement of transactions
of clearing-house associations in the 12 Federal reserve bank cities
and elsewhere in years ended September 30, 1930 and 1929.
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, Revised 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 Junet 19S0tfrom which reports of condition
were received
Banks
Names of officials

Location

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

Sanger N. Annis
Arthur E. Dole
Robert C. Clark...
Roy A. Hovey
George H. Newhall...
Lester E. Shippee

Total Southern States—




Loan
State
Stock
(com- and trust savings
compamercial)
nies

Bank commissioner,
.do..
Commissioner of banking and insurance...
Commissioner of banks
Bank commissioner
_
State bank commissioner

Mutual
savings

Private

Total

Joseph A Broderick...
Frank H. Smith
Peter G. Cameron
Harold W. Horsey
George W. Page....

Superintendent, banking department
Commissioner of banking and insuranceSecretary of banking
_
State bank commissioner.. _
do

47
15
39
101
13
ICO

212
36
262
9
109

32
50
19
196
9
75

16

79
65
58
297
25
191

315

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

Titles

381

16

715

160
195

151
25
9
2
14

43

566
263
696
45
149
28

201

75

1,747

22
820

._.
_
_

Joseph Button
L. R. Charter, jr..
John Mitchell.—_
Albert S. Fant....
A. B. Mobley
Ernest Amos
D. F. Green
J. S. Love
J. S. Brock
James Shaw
Walter E. Taylor..
O. S. Denny
D. D. Robertson..

Commissioner of insurance and banking..
Commissioner of banking...,
Chief State bank examiner
State bank examiner...
Superintendent of banks
Comptroller, State of Florida
Superintendent of banks.__.
do..
State bank commissioner.. _
Commissioner, department of banking
Commissioner, State banking department..
Banking commissioner
Superintendent of banks

305
179
327
137
315
121
213
274
191
686
329
419
380
3,876

I

23

306
179
327
138
323
152
220
280
191
700
329
419
380

30

27

3,944

o
o

W
O

3
j

Ohio . . .
Indiana _ .
_
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri

.
„
_

O. C. Gray
Superintendent of banks
Luther F Symons
Bank commissioner
Oscar Nelson
. . Auditor of public accounts
__. R. E. Reichert
Commissioner, State banking "department
_ C. F. Schwenker
Commissioner of banking
A. J. Veigel . -.
Commissioner of banks
L. A. Andrew
Superintendent, department of banking
S.L. Cantley
Commissioner of
finance

---

Total Middle Western States
North Dakota.
South DakotaNebraska
.
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 possessions
Total United States and possessions




621
456
1,221
580
759
732
317
1,014

3
22
16
15
13
95

5,700

Gilbert Semingson
F. R. Smith
George W. Woods
H. W Koeneke
G. M. Robertson
John A. Reed
Grant McFerson
Lawrence A Tamme
C. G. Shull

State bank examiner
Superintendent bureau of banking
Commissioner, of banks
Bank commissioner
Superintendent of banks
State bank examiner
State bank commissioner
State bank examiner
Bank commissioner

H4 C. Johnson

Supervisor of banking
Superintendent of .
do
. . banks
.
C ommissioner, department of
finance
State bank commissioner
State bank examiner
Superintendent of banks
±

. -

.- --

307

252
272
593
786
121
58
137
25
320

Secretary, territorial banking board
Governor of Hawaii
Treasurer
-- Insular treasurer
_

_.

645
648

19

6,910

2

17

3
1

13
1

1

38

219
130
184
96
77
23
31

5
4
29

43

13
8
19
11

236

6
5

9

760

W. G. Smith

.

CS1
703
1,221
639
781
752
1,021
1,110

34

3

2
5

2,564

Will C. Wood
E. W. Porter
W. H Hadloek
E. J. Seaborn
J. B. Button

57
98

46
1

5

146

•i

7

9
1
18

4

5

831
13
19
19
11

11

51

11

13, 582

1}564

2,618
228
135
232
96
84
25
31

1

3
1
23

254
279
602
806
122
58
150
27
320

62
714

606

361

16, S27

98

REPORT'OF THE COMPTROLLER OF THE CURRENCY
STATE (COMMERCIAL) BANKS

The statements following show a summary of the resources and
liabilities of State (commercial) banks on June 30, 1930, and a comparison of these items with the amounts reported as of June 29, 1929:
Summary of reports of condition of 18,582 State {commercial) banks in the United
States and possessions at the close of business June 80, 1980
[In thousands of dollars]
KESOURCES

Loans and discounts (including rediscounts):
Real estate loans, mortgages, deeds of trust, and
other liens on real estate—
On farm land.
87, 341
On other real estate
1, 536, 684
Loans secured by United States Government and
other bonds, stocks, and securities (exclusive of
loans to banks)
1, 435, 529
Loans to banks
2^ 852
Commercial paper bought in open market; acceptances payable in United States; and notes, bills,
and acceptances payable in foreign countries
186, 512
AH other loans
.__ 5, 967, 550
Total
9,216,468
Overdrafts
33, 918
Investments:
United States Government securities
489, 860
State, county, and municipal bonds
289, 000
Railroad and other public service corporation bonds. 163, 085
Stock of Federal reserve banks and other corporations
44, 911
Foreign government bonds and other foreign securities
33, 518
Other bonds, notes, warrants, etc
1, 927, 338
Total
Banking house, furniture, and
Real estate owned other than banking house
Cash in vault:
Gold coin
Gold certificates
All other cash in vault
Not classified

2,947,712
436, 235
145, 012

fixtures

_._

5, 362
7, 166
106, 853
175,471

Total
-.
Reserve with Federal reserve banks or other reserve agents
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsements, and
customers' liability on account of acceptances)
Total resources

-

294,852
848, 129
817, 049
188, 341
342, 186
15, 269, 902

LIABILITIES

Capital stock paid in
_
1,080,960
Surplus
746, 812
Undivided profits—net
239, 420
Reserves for dividends, contingencies, etc
86, 802
Reserves for interest, taxes, and other expenses accrued and unpaid..
26, 27$
Due to banks (demand balances)
647,085
Certified and cashiers' checks (including dividend checks), and cash
of credit and travelers' checks outstanding.
letters
104, 716


REPORT OF THE COMPTROLLER OF THE CURRENCY

99

Demand deposits (other than bank and United States):
Individual deposits subject to check
4, 925, 065
State, county, and municipal deposits
494, 743
Certificates of deposit (other than for money
borrowed)
149, 872
Other demand deposits
66, 341
Total
— . . . — 5, 636, 021
Time deposits (including postal savings):
State, county, and municipal deposits. __
30, 631
Deposits of other banks
2, 450
Other time deposits—
Deposits evidenced by savings pass books
4, 441, 542
Certificates of deposit (other than for money
borrowed)
.
.
1, 332,337
Time deposits, open accounts; Christmas savings accounts, etc
131, 251
Postal savings deposits
15, 710
Total
5,953,921
United States deposits (exclusive of postal savings)
4, 269
Deposits not classified
38, 881
Total deposits
12,385,792
Bills payable and rediscounts
249, 083
Agreements to repurchase United States Government or other
securities sold
.
37, 594
Acceptances executed for customers and to furnish dollar exchange-.
66, 312
Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorse•: inent)
350,849
Total liabilities

15, 269, 902

Resources and liabilities of State (commercial) hanks in the United States and
possessions June 80, 1980, compared with June 29, 1929
[In thousands of dollars]
June 30,1930 June 29,1929 Increase Decrease
Number of banks

13, 582

14,437 '•_

RESOURCES

Loans and discounts (including rediscounts)
Overdrafts..
Investments
Banking house, furniture, and fixtures
Real estate owned other than banking house
Cash in vault...
._
,
Reserve with Federal reserve banks or other reserve
agents
.
,
Other amounts due from banks
Exchanges for clearing house and other cash items.
Other resources
_
Total

9, 216, 468
33, 918
2,947, 712
436, 235
145, 012
294, 852

10, 361, 723
38,016
3,084, 672
464,469
152, 629
313,997

1,145, 2.53

848,129
817,049
188, 341
342,186

866,173
903, 315

18, 044
86, 266
110,518

15, 269,902

16,824, 315

1,080,960
746, 812
239, 420
86, 802

1,155,878
804, 400
237, 422
56,054

26,278
647, 985

41, 654
649, 980

15,276
1,995

104,715
5,636,021
5,953,921
4,269
38, 881
12, 385, 792
249, 083
37,594
66,312
350,849
15,269,902

113, 219
6, 515, 263
6, 298,456
7,310
2,742
13, 586,970
454, 842
3,148
44, 279
439, 768

8, 504
879, 242
344. 535
3,041

340, 462

136,960
28, 234
7,817
19,145

1,724
1, 554, 413

LIABILITIES

Capital stock paid in
Surplus
1
Undivided profits—net
_
Reserves for dividends, contingencies, etc...
Reserves for interest, taxes, and other expenses accrued
and unpaid
Due to banks.
___
Certified and cashiers' checks and cash letters of credit
and travelers' checks outstanding
Demand deposits
_
Time deposits (including postal savings)
United States deposits
Deposits not classified—
Total deposits
Bills payable and rediscounts
Agreements to repurchase securities sold
A cceptances executed for customers
Other liabilities..,
Total-.



16,824,315

74, 918
57, 588
1,998
30, 748

36,139
1, 201,173
205, 759
34,446
22,033
88,919
1, 554, 413

100

KBPOBT OF THE COMPTROLLER OF THE
LOAN AND TRUST COMPANIES

The statements following show a summary of the resources and
liabilities of loan and trust companies on June 30, 1930, and a comparison of these items with the amounts reported as of June 29,
1929:
Summary of reports of condition of Ij564 loan and trust companies in the United
States and possessions at the close of business June SO, 1980
fin thousands of dollars]
RESOURCES

Loans and discounts (including rediscounts):
Real estate loans, mortgages, deeds of trust, and
other liens on real estate—
On farm land
18, 689
On other real estate
1,284,963
Loans secured by United States Government and
other bonds, stocks, and securities (exclusive of
loans to banks)
4,534,946
Loans to banks
3, 697
Commercial paper bought in open market; acceptances payable in United States; and notes, bills,
and acceptances payable in foreign countries
130, 353
All other loans
3, 503, 288
Total
Overdrafts
investments:
United States Government securities
369, 999
State, county, and municipal bonds 139, 858
Railroad and other public service corporation bonds.
461, 358
Stock of Federal reserve banks and other corporations
133,369
Foreign government bonds and other foreign securities
40,647
Other bonds, notes, warrants, etc
2, 690, 515

9,475,936
5,585

Total
Banking house, furniture and fixtures
Real estate owned other than banking house
Cash in vault:
Gold coin
Gold certificates
All other cash in vault
Not classified

3, 835, 746
428, 889
S3, 188
3,780
5,034
68,968
98, 344

Total
Reserve with Federal reserve banks or other reserve agents
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources (including securities borrowed, acceptances- of other
banks and bilk of exchange or drafts sold with indorsement, and
customersr liability on account of acceptances)
Total resources

176,126
1, 045, 843
531, 883
1, 392, 996
726,4&$
17, 7€2, 66®

LIABILITIES

Capital stock paid in
9§5, 555
Surplus
— 1, 084, 184
Undivided profits—net
2Q%I®2
Reserves for dividends, contingencies, etc
6®, 202
Reserves for interest, taxes, and other expenses accrued and unpaid- _
16, 141
Due to banks (demand balances)
_____„___
1, 001, 8&7
Certified and cashiers' checks (including dividend checks), and cash
Digitized for letters of credit and travelers' checks outstanding
FRASER
771, 207


101

REPORT OF THE COMPTROLLER OF THE CURRENCY
Demand deposits (other than bank and United States):
Individual deposits subject to check
6, 545, 487
State, county, and municipal deposits
261, 125
Certificates of deposit (other than for money borrowed)
107,150
Other demand deposits
449, 2.38
Total
Time deposits (including postal savings):
State, county, and municipal deposits
,
39, 774
Deposits of other banks
106, 881
Other time deposits—
Deposits evidenced by savings pass books
3, 320, 666
Certificates of deposit (other than for money
borrowed)
323, 827
Time deposits, open accounts; Christmas savings accounts, etc
442, 482
Postal savings deposits
15, 340

7, 363, (369

Total
4,248,970
United States deposits (exclusive of postal savings)
34, 677
Deposits not classified
76, 929
Total deposits
13, 496, 650
Bills payable and rediscounts
172, 500
Agreements to repurchase United States Government or other securities sold
1, 910
Acceptances executed for customers and to furnish dollar exchange. _
8, 628
Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement). 1, 057, 788
Total liabilities

17, 702, 660

Resources and liabilities of loan and trust companies in the United States and
possessions June 80, 1980, compared with June 29 > 1929
[In thousands of dollars]
J u n e 30,
1930

Number of banks
! ^

1,564

J u n e 29,
1929

Increase Decrease

1,608

RESOURCES

Loans and discounts (including lediscounts)
Overdrafts
Investments
Banking house, furniture and fixtures
Real estate owned other than banking house
Cash in vault
Reserve with Federal reserve banks or other reserve agents..
Other amounts due from banks
._
Exchanges for clearing house and other cash items
Other resources
-. Total

9, 475, 936
5,585
3,835, 746
428, 889
83,188
176,126
1,045,843
531,883
1, 392, 996
726, 468

9,311,879
7,585
3,421, 673
385,112
68, 221
156, 580
923, 415
553, 577
594, 823
732, 310

164,057
414,073
43, 777
14,967
19, 546
122,428

2,000

21,694
18,173
•"57842

17, 702, 660

16,155,175 1, 547, 485

995, 555
1, 684,184
200,102
69, 202

54, 222
941, 333
1, 454. 504 229,680
208^ 632
9,958
59,244

LIABILITIES

Capital stock paid in
Surplus
--.
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and
unpaid
Due to banks
Certified and cashiers' checks and cash letters of credit and
travelers* checks outstanding
Demand deposits
Time deposits (including postal savings)
United States deposits
Deposits not classified
Total deposits
Bills payable and rediscounts
Agreements to repurchase securities sold
Acceptances executed for customers
Other liabilities
Total...




16,141
1, 001, 867

24, 394
792,134

8,253
209, 733

1,057,788

_

._

350, 881 420, 326
6,956,032 406,968
3, 989, 532 259, 438
44,134
62, 944
13, 985
12,146,698 1,349,952
437,992
2,669
12,942
916,053 141,735

17,702,660

16,155,175 1, 547,485

771, 207
7, 363,000
4, 248, 970
34,677
76, 929
13,496,650
172, 500
1,910

8, 530

9,457
265, 402
4,314

102

REPOET OF THE COMPTROLLER OF THE CURRENCY

Principal items of resources and liabilities of loan and trust companies in June oj
each year, 1914 to 19S0

The principal items of resources and liabilities of loan and trust
companies for years ended June 30, 1914 to 1930, inclusive, are shown
in the statement following.
[In millions of dollars]
Year
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

Number

_

-

- -

- -

1,564
1,664
1,606
1,608
1,669
1,377
1,408
1,474
1,550
1,643
1,664
1,680
1,656
1,647
1,633
1,608
1,564

Loans 1
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
7,483.3
8,303. 5
9,319. 5
9,481. 5

Investments

Capital

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
3,874. 7
3,421.7
3,835. 7

Surplus
and profits

462.2
476.8
475.8
506.5
525.2
450.4
475.7
515.5
532.3
591. 4
621.0
643.4
673.0
745,6
803.3
941.3
995.6

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
1,301.5
1,663.1
1,884.3

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
12, 058. 5
12,146. 7
13, 496. 7

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
13,094.8
16,230.9
16,155.2
17,702. 7

i Including overdrafts.

STOCK SAVINGS BANKS

The statements following show a summary of the resources and
liabilities of stock savings banks on June 30, 1930, and a comparison
of these items with the amounts reported as of June 29, 1929.
Summary of reports of condition of 714 stock savings banks in the United States at
the close of business June SO, 1980
[In thousands of dollars]
RESOURCES

Loans and discounts (including rediscounts):
Real-estate loans, mortgages, deeds of trust, and other
liens on real estate—
On farm land
On other real estate
Loans secured by United States Government and
other bonds, stocks, and securities (exclusive of
loans to banks)
Loans to banks
Commercial paper bought in open market; acceptances payable in United States; and notes, bills,
and acceptances payable in foreign countries
All other loans
Total
Overdrafts
Investments:
United States Government securities
State, county, and municipal bonds
Railroad and other public service corporation bonds. _
Stock of Federal reserve banks and other corporations
Foreign government bonds and other foreign securities
Other bonds, notes, warrants, etc
Total




.

1,854
514, 388
14, 278
78
315
388, 405
919,318
187
78, 692
6, 368
12, 419
2, 099
1,806
277, 549
378,933

REPORT OF THE COMPTROLLER OF THE CURRENCY
Banking house, furniture and
Real estate owned other than banking house
Cash in vault:
Gold coin
Gold certificates
All other cash in vault
Not classified

fixtures

103
41, 105
21, 799

38
727
800
14, 453

Total
Reserve with Federal reserve banks or other reserve agents
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, and
customers' liability on account of acceptances)
Total resources

16,018
89, 247
46, 925
3, 513
4, 064
1, 521,109

LIABILITIES

Capital stock paid in
__„_„_„_
Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and unpaid.
Due to banks (demand balances)
Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding_ „
Demand deposits (other than bank and United States):
Individual deposits subject to check
122, 799
State, county, and municipal deposits
83
Certificates of deposit (other than for money borrowed)
3,601
Other demand deposits
1, 821

60, 336
40, 666
13, 320
2, 086
521
6, 308

Total
Time deposits (including postal savings):
State, county, and municipal deposits._
83, 622
Deposits of other banks
6, 958
Other time deposits—
Deposits evidenced by savings pass books
1, 066, 605
Certificates of deposit (other than for money
borrowed)
99, 587
Time deposits, open accounts, Christinas savings
accounts, etc
2, 437
Postal savings deposits
._
1, 643

128,304

640

Total
-..
1, 260, 852
United States deposits (exclusive of postal savings)
2, 812
Deposits not classified
18
Total deposits
1, 398, 934
Bills payable and rediscounts
4, 045
Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement) _ _
1, 201
Total liabilities
22439°




„._ 1, 521, 109

104

REPORT OF THE COMPTROLLER OF THE CURRENCY

Resources and liabilities of stock savings banks in the United States June 30, 1930 r
compared with June 29, 1929
[In thousands of dollars]
June 30,
1930

June 29,
1929

Increase Decrease

Number of banks.

33
RESOURCES

Loans and discounts (including rediscounts)
Overdrafts
Investments
Banking house, furniture and fixtures
Real estate owned other than banking house
_
Cash in vault
_
Reserve with Federal reserve banks or other reserve agents.
Other amounts due from banks
_
_
Exchanges for clearing house and other cash items.
Other resources
Total.

919,318
187
378, 933
41,105
21,799
16,018
89, 247
46,925
3, 513
4,064

1,006,325
230
382, 262
43, 502
21, 270
17,345

529
72,359

6,060
2,003

1,521,109

60,336
40,666
13,320
2,086

62,487
40,513
13,624
1,062

521

1,570
8,107

640
123,304
1,260,852
2,812
18
1, 398,934
4,045

372
219, 770
1,230,228
5,381
165
1,464,023
5,336
54
1,176

~~2,~06T

1,589,845

87,007
43
3,329
2,397
1,327
47,035
2,547
68, 736

LIABILITIES

Capital stock paid in
_
_
Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and
unpaid..
_
_
Due to banks
Certified and cashiers' checks and cash letters of credit and
travelers' checks outstanding
Demand deposits
_
Time deposits (including postal savings)
United States deposits
_
Deposits not classified
Total deposits
Bills payable and rediscounts
Acceptances executed for customers
Other liabilities...

1,201

Total.

2,151
153
I,024

304
1,049
1,799

268
30,624

1,521,109 j 1,589,845

25

91,466
2,569
147
65,089
1,291
54
68,736

MUTUAL SAVINGS BANKS

The statements following show a summary of the .resources and
liabilities of mutual savings banks on June 30, 1930, and a comparison
of these items with the amounts reported as of June 29, 1929:
Summary of reports of condition of 606 mutual savings banks in the United States
at the close of business June 80, 1980
[In thousands of dollars]
RESOURCES
Loans and discounts (including rediscounts):
Real-estate loans, mortgages, deeds of trust, and
other liens on real estate—
On farm land
599
On other real estate
5, 516, 904
Loans secured by United States Government and
other bonds, stocks, and securities (exclusive of
loans to banks)
60, 855
Commercial paper bought in open market; acceptances payable in United States; and notes, bills,
and acceptances payable in foreign countries
8, 489
All otherloans__
309, 176
Total
Overdrafts



5,896,023
2

REPORT OF THE COMPTROLLER OF THE CURRENCY

105

Investments:
United States Government securities
152, 549
State, county, and municipal bonds
473, 800
Railroad and other public service corporation bonds _ 1, 246, 302
Stock of corporations
88, 173
Foreign government bonds and other foreign securities68, 893
Other bonds, notes, warrants, etc
___ 1, 842, 700
Total
Banking house, furniture and
Real estate owned other than banking house
Cash in vault:
Gold coin
Gold certificates
All other cash in vault
Not classified

3, 872, 417
113, 162
44, 243

fixtures
641
691
o, 356
27, 716

Total
-.
Reserve with reserve agents
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, and
customers' liability on account of acceptances)
Total resources

_:

34,404
25, 856
234, 713
1, 779
72, 709
10, 295, 308

LIABILITIES

Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and unpaid _ _
Due to banks (demand balances)
Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding
Demand deposits (other than bank and United States):
Individual deposits subject to check
10, 032
State, county, and municipal deposits
200
Certificates of deposit (other than for money borrowed)
71
Other demand deposits
2

898,871
154, 623
15, 157
638
173

Total
Time deposits:
State, county, and municipal deposits
295
Other time deposits—
Deposits evidenced by savings pass books
9, 190, 566
Certificates of deposit (other than for money
borrowed)
403
Time deposits, open accounts; Christmas savings
accounts, etc
13, 994

10,305

Total
Total deposits^Bills payable and rediscounts
Other liabilities (including securities borrowed and acceptances
of other banks and bills of exchange or drafts sold with indorsement) ___________

9, 205, 258
9, 215, 888
673

Total liabilities




152

9,458
10, 295, 308

106

EEPOET OF THE COMPTROLLER OF THE CURRENCY

Resources and liabilities of mutual savings banks in the United States June 30, 1989,
compared with June 29', 1929
[In thousands of dollars]
June 30,
1930

June 29,
1929

Increase Decrease

806

6U

5, 896,023
2
3,872,417
113,162
44,243
34,404
25,856
234, 713
1,779
72, 709

5, 801,489

94,534

3,775, 770
110,269
23,059
31,495
35,986
150,137
5,946
72,301

96,647

""408

10,295,308

Number of banks.

10,006,452

288,856

RESOURCES

Loans and discounts (including rediscounts)
-.
Overdrafts
Investments
Banking house, furniture and fixtures,..
Real estate owned other than banking house.._.__.
Cash in vault. __
—
Reserve with reserve agents
Othsr amounts due from banks
Exchanges for clearing house and other cash items..
Other resources
Total.

21,184
2,909
10,130
84,576
4,167

LIABILITIES

Surplus.
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued
and unpaid
Due to banks
Certified and cashiers' checks and cash letters of credit and
travelers' checks outstanding
_.
Demand deposits
Time deposits (including postal savings)
Deposits not classified
Total deposits
Bills payable and rediscounts
Other liabilities
Total.

-..

898,871
154,623
15,157

823,693
147, 725
13,527

838
173

1,229
182

152
10, 305
9,205, 258
9,215, 888
673
9, 458

46
98,473
8, 903,126
1,519
9,003,346
1,366
15,566

10, 295, 308

10,006,452

591
9
106
88,138
302,132
'""I," 519
212,542
693
6,108

Savings depositors and deposits in mutual and stock savings hanks
Statements showing information relative to the number of mutual
and stock savings banks in each State, the number of savings depositors, the amount of savings deposits, the average amount due each
depositor, and the average rates of interest paid by banks in each
State, June 30,1929 and 1930, with similar information for each year
1914 to 1930, follow:




Number of mutual savings banks, number of savings depositors, savings deposits, and average deposit account, by States, June SO, 1929 and 1980^
1929
Location

Number
of banks

Depositors 1

Deposits«

1930
Average
due each
depositor

Average
rate of in- Number
terest paid of banks

$502.26
644.19
770.36
684.47
855.20
690.44

Per cent
4.00
4.08
4.17
4.74
4.34
4.75

4, 463, 046, 000
173,818,000
440,727,000
24,641, 000
194,199,000

872.34
377.43
813.10
516.68
597.26

4.00
3.97
3.96
4.50
4.00

6,491,544

5, 296,431, 000

815. 90

3
5
6
5

128,496
« 39,563
141,063

104,466, 000
24,505,000
8,550,000
71,797,000

812.99
619. 39
407. 76
508.97

19

330,090

209,318,000

634.12

93,074

53,739,000
75,527,000

577.38
1,080.98

162,943

129, 266, 000

793. 32

611 11,748,085

8,890, 790, 000

756.79

_

33
52
19
196
9
.
75

127,961
2,973,468
196,386
904,981

$113,402,000
3 215,759,000
98,576,000
2,035,257,000
167,949,000
624,832,000

Total New England States.—

384

4,763,508
5,116,151
460,525
542,029
47,691
325,148

New York
New Jersey
Pennsylvania*
Delaware.Maryland

_
.__

._-

_

_

Total Eastern States

202

225,782

Deposits 2

Average
due each
depositor

233,476
312,259
« 107,982
2,954,855
197,834
924,528

$112,692,000
3 201,641,000
94,407,000
2,093,098,000
170,467,000
650,923,000

381

4,730,934

3,323,228,000

5, 256,265
481,591
555,981
48,727
328,623

4,566,165. 000
274,398,000
460,933,000

25,435, 000
198,815, 000

867. 22
569. 77
829.04
521.99
604.99

201

6,671,187

5,525,746, 000
108,324,000
21,260, 000
8,382,000
71,411,000

793.17
610.57
392.97
514.66

331, 475

209,377, 000

631.65

93,736
67,743

55,060, 000
77,558,000

587,39
1,144.89

161, 479

132,618,000

821. 27

11,895,075

9,190,969,000

772.67

Per cent
4.50
4.27
4.25
4.74
4.47
C

828.30

136,571
* 34,820
21,330
138,754

Average
rate of interest paid

702.45

151
25
9
2
14

3,255,775,000

150
27

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut

Depositors i

$482.67
645.75
874. 28
708. 36
861.67
704.06

4.70
3.75
4.09
4.50
4.00

••:

Ohio
Indiana
Wisconsin
Minnesota

-

Total Middle Western States
Washington
California

_

Total Pacific States
Total United States
1
a
3

Represents number of savings pass-book accounts.
Represents deposits evidenced by savings pass books and time certificates of deposit,
Includes savings of 11 trust companies and 11 guaranty savings banks.




4.00
4.00
3.00
3.75
19
4.75
4.25

606
4

Estimated.
* Includes returns of one stock savings bank.

4.00
4.00
3.00
3.75

H
O
H

W
o
o

t
w
w
o
H

w4.00
4.25

O

dw
w
w
'A
o

Number of stock savings banks, number of savings depositors^ savings deposits, and average deposit account, by States, June S0$ 1929 and 19S0
1929
Location

Number
of banks

Deposits 2

Average
due each
depositor

Average
rate of in- Number
terest paid of banks
Per cent
4.00
3.50

1
22

Total Eastern States
Florida
Alabama
Mississippi

„...

40,349
130,069

$24,800,000
23,617,000

$614.64
181.57

23

170,418

48,417,000

284.11

1

New Jersey - - .
District of Columbia

3,930

1,186,000

301. 78

4.00
4.00

7

Nebraska
_

521.99

4,177,000

19,179
428,229

18,579,000
247,275,000

968.72
577.44

679

447,408

265,854,000
2,993,000

243.37

621
1,687,274
63,562
4,288

453,000
< 876,077,000
24,234,000
4,830,000

729.47
551.94
381.27
1,126.40

Deposits 2

Average
due each
depositor

Average
rate of interest paid

$641. 24
179.10

Per cent
4.00
3.50

38,524
131,367

$24,703,000
23,528,000

23

169,891

48,231,000

283.89

1
4
6

594.21

12,298

Depositors^

1
22

432.40

1
19
3
1

Total Middle Western States

2,991,000

9,660

13

Michigan
Iowa

3 5,730

8

3
676

Total Southern States

Oregon
California
Utah
Nevada

Depositors i

1930

78
67,369
3 4,883

579,000
6,032,000
2,530,000

7,423.07
89.54
518.12

4.00
4.00
4.00

11

72,330

9,141,000

126.38

3
645

20,341
'400,600

18,287,000
232,913,000

899.02
581.41

648

420,941

251,200,000

4.00

9

8,790

2,212,000

251.65

4.00

1
18
3
1

721
1,472,012
58,679
3 4,155

491,000
832,803,000
17,434,000
4,680,000

681.00
565. 76
297.11
1,126.35

H
W
E
O
O

596. 76

3.00
4.00
4.00
4.00

S

3.00
4.00
4.00
4.00

3.50
3.50

Total Pacific States

24

1,655,745

905,594,000

546.94

23

1,535,567

855,408,000

747

2,295,529

1,227,035,000

534. 53

714

2,207,519

1,166,192,000

528.28

5

H

5

557.07

Total United States

3.50
3.50

i Eepresents number of savings pass-book accounts.
Eepresents deposits evidenced by savings pass books and time certificates of deposit.

s




o

3 Estimated.
Includes savings of departmental banks.

4

a

109

REPORT OF THE COMPTROLLER OF THE CURRENCY

Number of savings banks (mutual and stock) in the United States, number oj
savings depositors, amount of savings deposits, and average amount due each
depositor\ June 80, 1914 t° 1980, inclusive *
[For prior years, see annual report for 1920, vol. 1, pp. 236-242]

Banks

Year

634
1,466
630
1,529
622
1,242
622
1,185
625
1,194
622
1,097
620
1,087
623
1,084
619
1,066
618

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 4 .
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...
1928—Mutual savings banks.
Stock savings banks...
1929—Mutual savings banks.
Stock savings banks...
1930— Mutual savings banks.
Stock savings banks...
1
%
3
4

1,029
613
990
611
972
620
904
618
843
616
791
611
747
606
714

Depositors i
8,274,418
2, 228,020
8,305, 562
2, 380,496
8,590, 746
2,297,911
8,935, 055
2,431,958
9,011, 464
2, 368, 089
8,948, 808
2,486, 073
9, 445,327
1,982, 229
9,619, 260
2,464, 265
9,665,861
2,883,136
10, 057, 436
3, 282, 897
10, 409, 776
3, 562, 017
10, 616, 215
4, 040, 312
11, 053, 886
4,107,913
11, 337,398
3,476, 873
11, 732,143
3,272,415
11, 748, 085
2,295, 529
11,895, 075
2, 207,519

Deposits 3

Average
due each
depositor

$3,915,143,400
835, 448, 768
3,946,069,043
856, 546, 005
4,135,552,045
854,235,985
4, 340, 805,483
960, 742, 593
4,344,166,606
1, 006, 406, 927
4, 723, 629, 000
1,128, 331, 000
5,172, 348, 000
1,319, 654, 000
5,395, 552, 000
1, 363, 451, 000
5, 686, 720, 000
1,384, 004, 000
6,282, 618, 000
1,428,883, 000
6, 686, 366, 000
1, 543, 245, 000
7,139, 510, 000
1, 790, 514, 000
7, 558, 668, 000
1,746,642,000
8, 054, 868,000
1,453, 035,000
8,665,592,000
1,338, 011,000
8, 890, 790,000
1,227, 035, 000
9,190,969,000
1,166,192, 000

$473.16
374.97
475.11
359.82
481.40
371.74
485.82
395.05
482. 07
424.98
527.85
453.86
547.61
665.74
560.91
553.29
588.94
480.03
624.67
435.25
642.32
433.25
672.61
443.16
683.80
425.19
710.47
417.91
738.62
408.88
756.79
534.53
772.67
528.28

Revised.
Represents number of savings pass-book accounts.
Represents deposits evidenced by savings pass books and time certificates of deposit.
Includes estimated returns of 106 banks in California. (See p. 141, Comptroller's Report for 1921.)

PRIVATE BANKS

The statements following show a summary of the resources and
liabilities of private banks on June 30, 1930, and a comparison of these
items with the amounts reported as of June 29, 1929.
Summary of reports of condition of 861 private banks in the United States at the
close of business June 80, 1980
[In thousands of dollars]
RESOURCES

Loans and discounts (including rediscounts):
Real-estate loans, mortgages, deeds of trust, and other liens
on real estate—
On farm land
3,892
On other real estate
7, 395
Loans secured by United States Government and other
bonds, stocks, and securities (exclusive of loans to banks). 2, 674
Loans to banks.
,
227
Commercial paper bought in open market; acceptances
payable in United States; and notes, bills, and acceptances payable in foreign countries
1, 322
All other loans
___,.1_.,
-.________
49, 663
 —
Total


___„-.-_-

_-.-

65, 173

110

REPORT OF THE COMPTROLLER OF THE CURRENCY

Overdrafts
. ———— —
- — .. — .._.•
Investments:
United States Government securities
_ » - - 1, 897
State, county, and municipal bonds
1, 166
Railroad and other public-service corporation bonds
686
Stock of corporations
3, 220
Foreign government bonds and other foreign securities
599
Other bonds, notes, warrants, etc
_ _,
14, 181
Total
Banking house, furniture and
fixtures
Real estate owned other than banking house
Cash in vault:
Gold coin
Gold certificates
..
.
All other cash in vault
.:..
Not classified
.....
.

~_
.
-_.

294

— 21,749
3, 216
__ 6, 325

34
31
908
1, 090

Total
2,063
Reserve with reserve agents
...
2, 351
Other amounts due from banks
10, 086
Exchanges for clearing house and other cash items
519
Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, and customers' liability on account of acceptances)
_>
..,
2, 830
Total resources

114, 606
LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and unpaid
Due to banks (demand balances)
Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding
Demand deposits (other than bank and United States):
Individual deposits subject to check
28, 718
State, county, and municipal deposits
2, 194
Certificates of deposit (other than for money borrowed)
2, 048
Other demand deposits
.
1, 725

8, 594
7,127
1, 466
67
30
966
236

Total
-_
. 34,685
Time deposits (including postal savings):
State, county, and municipal deposits
32
Deposits of other banks
36
Other time deposits—
Deposits evidenced by savings pass books
24, 629
Certificates of deposits (other than for money borrowed)
._ 17, 237
Time deposits, open accounts; Christmas savings
accounts, etc
1, 855
Total
.
43, 789
Deposits not classified
.
1, 371
Total deposits
.
81, 047
Bills payable and rediscounts
10, 483
Agreements to repurchase United States Government or other securities
sold_
_
1
Acceptances executed for customers and to furnish dollar exchange
22
Other liabilities (including securities borrowed and acceptances of other
banks and bills of exchange or drafts sold with indorsement)
.. 5, 769
Total liabilities-_„



_-._._

--—.

114,606

in

OF THE COMPTROLLER OF THE CUBBENCY

Resources and liabilities of private banks in the United States June SO, 1930, compared with June 29, 1929
[In thousands of dollars]
June 30, June 29,
Increase Decrease
1930
1929
Number of banks

361

391

30

65,173
294
21, 749
3,216
6,325
2,063
2,351
10,086
519
2,830

93, 723
833
27,826
3,41g
6,798
2,508
4,787
12,348
1,078
3,170

28,650
539

114,606

156,490

41,884

8,594
7,127
1,466
67

9,905
9,536
2,479
50

1, 311

30

61
2,862

31
1,896

236
34,685
43,789
81,047
10,483
1
22
5,769

362
56,358
49,180
1,044
1,710
111, 516
16,660
46
19
6,218

126
21,673
5,391
1,044
339
30,469

114,606

156, 490

41,884

KESOUBCES

Loans and discounts (including rediscounts)
Overdrafts
.
Investments
Banking house, furniture and fixtures
Real estate owned other than banking house
Cash in vault
Reserve with reserve agents.<,„.—
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources
_
Total
__-

473
445
2,436
2,263
559
340

LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net
..Reserves for dividends, contingencies, etc
Keserves for interest, taxes, and other expenses accrued and
unpaid..
__.
Due ta banks
Certified and cashiers' checks and cash letters of credit and
travelers' checks outstanding
Demand deposits
Time deposits (including postal savings)
United States deposits..
Deposits not classified
Tmi deposits....
.
Bills payable and rediscounts
Agreements to repurchase securities sold
Acceptances executed for customers.
Other liabilities
Total

-

1, ©13
17

449

ALL REPORTING BANKS OTHER THAN NATIONAL
The statements following show a summary of the resources and
liabilities of all reporting banks, other than national, on June 30,
1930, and a comparison of these items with the amounts reported as of
June 29, 1929.
Summary of reports of condition of 16,827 State {commercial), savings, private banks,
and loan and trust companies in the United States and possessions at the close of
business June SO, 1930
[In thousands of dollars]
RESOURCES

Loans and discounts (including rediscounts):
Real-estate loans, mortgages, deeds of trust, and
other Kens on real estate—
On farm land
112, 375
On other real estate
8, 860, 334
Loans secured by United States Government and
©tfeer bonds, stocks, and securities (exclusive of
loans to banks)
6, 048, 2S2
Loans to banks.
<
.
% 854
Commercial paper bought in open market; acceptances payable in Fnited States; and notes, bilk,
and acceptances payable in foreign countries—
326, f$l
All other loans.
.
.
10r218,-Q82
— — — .— .— — — — — —



— 25, 572, 918

112

REPORT OF THE COMPTROLLER OF THE CURRENCY

Overdrafts
..
39, 986
Investments:
United States Government securities
1, 092, 997
State, county, and municipal bonds
910, 192
Railroad and other public service corporation
bonds
1, 883, 850
Stock of Federal reserve banks and other corporations
271,772
Foreign government bonds and other foreign
securities
145,463
Other bonds, notes, warrants, etc..
6, 752, 283
Total
11, 056, 557
Banking house, furniture and
fixtures
1, 022, 607
Real estate owned other than banking house
300, 567
Cash in vault:
Gold coin
9, 855
Gold certificates
13, 649
All other cash in vault
182, 885
Not classified
317, 074
Total
523,463
Reserve with Federal reserve banks or other reserve agents
2, 011, 426
Other amounts due from banks
1, 640, 656
Exchanges for clearing house and other cash items
1, 587,148
Other resources (including securities borrowed, acceptances of
other banks and bills of exchange or drafts sold with indorsement, and customers' liability on account of acceptances)
1, 148, 257
Total resources
44, 903, 585
LIABILITIES

= = = = =

Capital stock paid in
- 2, 145, 445
Surplus
3, 377, 660
Undivided profits—net
608, 931
Reserves for dividends, contingencies, etc
173, 314
Reserves for interest, taxes, and other expenses accrued and unpaid.
43, 608
Due to banks (demand balances)
1, 657, 299
Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding
876, 950
Demand deposits (other than bank and United States):
Individual deposits subject to check
11, 632, 101
State, county, and municipal deposits
758, 345
Certificates of deposit (other than for money borrowed)
262,742
Other demand deposits
.
519, 127
Total
13, 172, 315
Time deposits (including postal savings):
State, county, and municipal deposits
154, 354
Deposits of other banks
116, 325
Other time deposits—
Deposits evidenced by savings pass books
18, 044, 008
Certificates of deposit (other than for money
borrowed)
1, 773, 391
Time deposits, open accounts; Christmas savings accounts, etc
592, 019
Postal savings deposits
32, 693
Total
. . . 20, 712, 790
United States deposits (exclusive of postal savings)
..
41, 758
Deposits not classified
117, 199
Total deposits
.
36, 578, 311
Bills payable and rediscounts
.
436, 784
Agreements to repurchase United States Government or other
securities sold
39, 505
Acceptances executed for customers and to furnish dollar exchange.
74, 962
Other liabilities (including securities borrowed and acceptances
of other banks and bills of exchange or drafts sold with indorsement)
. 1, 425, 065
Total liabilities-_.
. ——
— 44, 903, 585




REPORT OF THE COMPTROLLER, OF THE CURRENCY

113

Resources and liabilities of State (commercial), savings, private banks, and loan and
trust companies in the United States and possessions June 30, 1930, compared
with June 29; 1929
[In thousands of dollars]
June 30, 1930 j June 29, 1929 Increase Decrease
16,827

Number of banks...

17,7

967

RESOURCES

Loans and discounts (including rediscounts)
Overdrafts
Investments
—
Banking house, furniture and
fixtures
—
Real estate owned other than banking house
Cash in vault
Reserve with Federal reserve banks or other reserve
agents
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources
~
Total
_

25,572,918
39,986
11,056,557
1,022,607
300, 567
523,463

26,575,139
46, 664
10,692,203
1,006, 770
271, 977
521, 925

2,011,426
1,640,656
1, 587,148
1,148,257

1,847,249
1, 713,338
906,766
1,150,246

44,903,585

44,732,277

171,308

2,145,445
3, 377,660
608,931
173,314

2,169,603
3,132,646
609,882
80,651

245,014
~~92~663

43,608
1,657,299

1,453, 265

204,034

876,950
13,172,315
20, 712,790
41,758
117,199
36,578,311
436, 784
39,505
74,962
1,425,065

464,880
13,845,896
20,470, 522
57,869
20,121
36,312,553
916,196
5,863
57,294
1,378,781

412,070

44,903,585 j

44,732,277

171,308

1,002,221
6,678
364,354
15,837
28,590
1,538
164,177
680,382

72,682
"l,~989

LIABILITIES

Capital stock paid in
_
Surplus
_
•
Undivided profits—net
Reserves for dividends, contingencies, etc
—
Reserves for interest, taxes, and other expenses accrued
and unpaid
Due to banks
Certified and cashiers' checks and cash letters of credit
and travelers' checks outstanding
Demand deposits
Time deposits (including postal savings)
United States deposits
Deposits not classified
Total deposits
_
Bills payable and rediscounts
Agreements to repurchase securities sold
Acceptances executed for customers
Other liabilities
_
Total
.




24,158
951
25,200

673,681
242, 268
97,078
265, 758
479,412
33,642
17,668
46,284

114

REPORT OF THE COMPTROLLER OF THE CURRENCY

The resources and liabilities of each class of reporting banks other
than national, June 30, 1930, are shown in the following table:
Resources and liabilities of 16,827 State (commercial) banks, loan and trust companies, savings banks, and private banks, June 30, 1930
[In thousands of dollars]
13,582
1,564 loan
State
and trust
(commer- companies
cial) banks

714 stock
savings
banks

mutual
savings
banks

361
private
banks

Total,
16,827
banks

RESOURCES

Loans and discounts (including
rediscounts)
9,216,468
33,918
Overdrafts
2,947,712
Investments
Banking house, furniture and fix436,235
tures
Real estate owned other than bank145,012
ing house
294,852
Cash in vault
Reserve with Federal reserve banks
848,129
or other reserve agents
817,049
Other amounts due from banks
Exchanges for clearing house and
188, 341
other cash items
342,186
Other resources

9,475,936
5,585
3,835,746

919,318
187

5,896,023
2
3,872,417

65,173
294
21,749

25,572,918
39,986
11,056,557

428,889

41,105

113,162

3,216

1,022,60?

83,188
176,126

21,799
16,018

44,243
34,404

6,325
2,063

300,567
523,463

1,045,843
531,883

89,247
46,925

25,856
234, 713

2,351
10,086

2,011,426
1,640,656

1,392,996
726,468

3,513
4,064

1,779
72,709

519
2,830

1,587,148
1,148,257

15,269,902

17,702,660

1,521,109

10,295,308

114,606

44,903,585

Capital stock paid in
, 1,080,960
Surplus
746,812
Undivided profits—net
239,420
Reserves for dividends, contingencies, etc
86,802
Reserves for interest, taxes, and
other expenses accrued and unpaid
26, 278
647,985
Due to banks
Certified and cashiers' checks and
cash letters of credit and travelers' checks outstanding
104,715
5,636,021
Demand deposits
Time deposits (including postal
savings)
5, 953,921
4,269
United States deposits..,„_38,881
Deposits not classified
Total deposits
12,385,792
249,083
Bills payable and rediscounts
Agreements to repurchase securities sold
37,594
Acceptances executed for customers.
66,312
Other liabilities
350,849

995,555
1,684,184
200,102

60,336
40,666
13,320

898,871
154,623

8,594
7,127
1,466

2,145,445
3,377,660
608,931

69,202

2,086

15,157

67

173,314

16,141
1,001,867

521
6,308

638
173

30

43,608
1,657,299

771,207
7,363,000

640
128,304

152
10,305

236
34,685

876,950
13,172,315

4,248,970
34,677

1, 260,852
2,812
18
1,398,934
4,045

9,205,258

43,789

76,929
13,496,650
172,500

9,215,888
673

1,371
81,047
10,483

20,712,790
41,758
117,199
36,578,311
436,784

1,910
8,628
1,057,788

1,201

9,458

1
22
5,769

17,702,660

1,521,109

10,295,308

114,606

Total.
LIABILITIES

Total.




15,269,902

39, 505
74,962
1,425,065
44,903,585

115

REPORT OF THE COMPTROLLER OF THE CURRENCY

HESOUROES AND LIABILITIES OF ALL REPORTING BANKS OTHER THAN
NATIONAL ON OR ABOUT JUNE 30, 1926-1930

The resources and liabilities of all reporting banks other than national June 30, 1926 to 1930, are shown in the following statement:
[In thousands of dollars]
1926 (20,168 1927 (19,265 1928 (18,522 1929 (17,794 1930 (16,827
banks)
banks)
banks)
banks)
banks)
RESOURCES

Loans and discounts (including rediscounts). 22, 583,356 23,314,682 24,397, 072 26,575,139 25,572,918
39,751
Overdrafts
46,664
39,986
9,972,888 10,861,875 11,624,366 10,692,203 11,056,657
Investments
860,208
942,467
Banking house, furniture and fixtures
899,887
1,006,770
1,022,607
243, 048
278, 287
Real estate owned other than banking house.
283,656
271,977
300,567
572,732
Cash in vault
643,692
521,925
523,463
Reserve with Federal reserve banks or other
1, 545,415 1,526,902
1,652,457
1,847,249
reserve agents
2,011,426
1,730,441
1,713,338
Due from banks
_
-. 1,859,627
1,640,656
1, " " ""'
Exchanges for clearing house and other cash
971,165 1,042,167
789,766
906,766
1,587,148
items
865,711
944, 594
1,038,232
1,150,246
1,148,257
Other resources
Total
39,577,738 41, 550,615 43, 066,089 44, 732,277 44,903,585
LIABILITIES

1,860,431
Capital stock paid in
Surplus
--2,273,069
Undivided profits—net
585,584
Reserves for dividends, contingencies, etc..
(l)
Reserves for interest, taxes, and other expenses accrued and unpaid
0)
1,431,149
Due to banks
_
Certified and cashiers' checks and cash
letters of credit and travelers' checks out2 170,245
. standing
8,809,792
Demand deposits-.
Time deposits (including postal savings) __.. 18,087,718
43,323
United States deposits..
4,871,986
Deposits not classified..
33,414,213
Total deposits
_
501,186
Bills payable and rediscounts
Agreements to repurchase securities sold
A cceptances executed for customers
2 943,255
Other liabilities
Total
19, 577, 738

1,902,325
2,507,582
622,785
(0

1,931,666
2,725,834

C1)
1,432,400

0
1,343,011

2,169,603
3,132,646
609,882
80, 651

2,145,445
3,377,660
173,314

1,453, 265

43,608
1,657,299

2 449,614
2 614,832
464,880
12,897,523 13,302,856 13,845,896
19,066, 069 20,241,471 20,470,522
36,900
64,181
57,869
895, 730
20,121
34,960,735 35,773,790 36,312,553
461,466
764,961
916,196
5,863
57,294
1,378, 781
722 11,200,914
41,550,615 43, 066, 089 44, 732, 277

876,960
13,172,316
20,712,790
41,758
117,199
36,578,311
436,784
39,605
74,962
1,425,065
I 44,903, 686

1 Included in undivided profits.
2 Cash letters of credit in 1926,1927, and 1928 reported in "other liabilities."
* Included in " other liabilities."

NATIONAL

BANKS

The statements following show a summary of the resources and
liabilities of reporting national banks on June 30, 1930, and a comparison of these items with amounts reported as of June 29, 1929.
Summary of reports of condition of 7,252 national banks in the United States and
possessions at the close of business June 80, 1980
{In thousands of dollars]
RESOURCES

Loans and discounts (including rediscounts):
Real-estate loans, mortgages, deeds of trust, and
other liens on real estate—
On farmland
._. 296, 970
On other real estate
__. 1, 176,031
Loans secured by United States Government and
other bonds, stocks, and securities (exclusive of
loans to banks)
5,484,713
Loans to banks..339,587
Commercial paper bought in open market; acceptances payable in United States; and notes, bills,
and acceptances payable in foreign countries
517, 295
All other loans...
--„._-_._.
_._. 7, 073, 156


Total


.

- . - -

-

-

14, 887, 752

116

REPORT OF THE COMPTROLLER. OF THE CURRENCY

Overdrafts
._..
9,452
Investments:
United States Government securities
2, 753, 941
State, county, and municipal bonds
791, 954
Railroad and other public service corporation
bonds
1, 444, 416
Stock of Federal reserve banks and other corporations.
212, 375
Foreign government bonds, and other foreign
securities
527, 706
Other bonds, notes, warrants, etc
1, 157, 779
Total
711717177! 6, 888, 171
Banking house, furniture and
fixtures
787, 750
Real estate owned other than banking house
124, 584
Cash in vault:
Gold coin
14, 748
Gold certificates
34, 373
All other cash in vault
293, 386
Total
342,507
Reserve with Federal reserve banks or other reserve agents
1, 421, 676
Other amounts due from banks
2, 353, 669
Exchanges for clearing house and other cash items
1, 297, 487
Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, and
customers' liability on account of acceptances)
1, 003, 491
Total resources
29, 116, 539
LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and unpaid- _
National-bank circulation
Due to banks (demand balances)
Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding
Demand deposits (other than bank and United States):
Individual deposits subject to check
9, 455, 422
State, county, and municipal deposits
1,153,701
Certificates of deposit (other than for money borrowed)
143, 511
Other demand deposits
173, 567
Total
7777777"
Time deposits (including postal savings):
State, county, and municipal deposits
437, 849
Deposits of other banks
203, 751
Other time deposits—
Deposits evidenced by savings pass books
6, 070, 683
Certificates of deposit (other than for money
borrowed)
1, 357, 461
Time deposits, open accounts; Christmas savings accounts, etc
574, 847
Postal savings deposits
_
107, 980

Total

1, 743, 974
1, 591, 339
545, 873
94, 962
79, 129
652, 339
2, 679, 821
738, 327

10,926,201

77777771 8,752,571

United States deposits (exclusive of postal savings)
171, 964
Total deposits
23, 268, 884
Bills payable and rediscounts
229, 033
Agreements to repurchase United States Government or other securities sold
...
8, 173
Acceptances executed for customers and to furnish dollar exchange- _
511, 007
Other liabilities (including securities borrowed and acceptances of
other banks and bills of exchange or drafts sold with indorsement) 391, 826
Total liabilities
. . . 29, 116,539



REPORT OF THE COMPTROLLER OF THE CURRENCY

117

Resources and liabilities of national banks in the United States and possessions
June SO, 1930, compared with June 29, 1929
tin thousands of dollars]
June 30,1930 June 29,1929 Increase Decrease
---

7,252

7,536

Loans and discounts (including rediscounts)
Overdrafts
Investments
Banking house, furniture and fixtures
Real estate owned other than banking house.—
Cash in vault
Reserve with Federal reserve banks or other reserve
agents
2...
Other amounts due from banks
Exchanges for clearing house and other cash items
Other resources
.-_-.
Total
-

14,887,752
9,452
6,888,171
787,750
124,584
342,507

14,801,130
10,193
6,656, 535
747,684
118,839

1,421,676
2,353,669
1,297,487
1,003,491

1,344,951
1,854,187
785,006
823, 700

76,725
499,482
512,481
179,791

29,116,539

27,440,228

1,676,311

1,743,974
1,591, 339
545,873
94,962

1,627,375
1,479,052
487,504
80,832

116,599
112,287
58,369
14,130

79,129
652,339
2,679,821

73,968
649,452
2,175,932

5,161
2,887
503,889

Number of banks...

284

RESOURCES

86,622
231,636
40,066
5,745
44,504

741

LIABILITIES

Capital stock paid in
_
Surplus
-.
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued
and unpaid
_.National-bank circulation
Due to banks
Certified and cashiers' checks and cash letters of credit
and travelers' checks outstanding
Demand deposits
Time deposits (including postal savings)
United States deposits
Total deposits
Bills payable and rediscounts
Agreements to repurchase securities sold
Acceptances executed for customers
Other liabilities
Total




_

-

738,327
10,926,201
8,752,571
171,964
23,268,884
229,033
8,173
511,007
391,826

372, 550
365,777
10,504,268
421,933
8,317,095
435,476
228,243
21,598,088 1,670,796
714,507
49,660
392,623
118,384
287,167
104,659

29,116,539

27,440,228

1,676,311

56,279
485,474
41,487

118

REPORT OF THE COMPTROLLER OF THE CURRENCY

RESOURCES AND LIABILITIES OF ALL REPORTING NATIONAL BANKS ON
OR ABOUT JUNE 30, 1926-1930

The resources and liabilities of all reporting national banks June 30,
1926 to 1930, are shown in the following statement:
[la thousands of dollars]
1926
(7,978
banks)

1927
(7,793
banks)

1928
(7,691
banks)

1930
(7,252
banks)

RESOURCES

Loans and discounts (includingrediscounts). 13,417,674
Overdrafts
9,719
Investments
_. 5,842, 253
632,842
Banking house, furniture and fixtures
115,869
Real estate owned other than banking house.
359,951
Cash in vault
_
Reserve with Federal reserve banks or other
1,381,171
reserve agents
1,
Due from banks
_
Exchanges for clearing house and other cash
1,066,396
items
Other resources
506,901

13,955,696 15,144,995
9,788
10,138
6,393, 218 7,147,448
680, 218
721,229
115,817
125,680
364,204
315,113

14,801,130
10,193
6,656,535
747,684
118,839
298,003

14,887,752
9,452
6,888,171
787,750
124,584
342,507

1, 406,052
1,967,950

1,453,383
1,885,967

1,344,951
1,854,187

1,421,676
2,353,669

1,139,000
550,000

963,332
740,954

785,006
823,700

1,297,487
1,003,491

26,581,943

28,508,239

27,440,228

29,116,639

1,474,173 1,593,856
1,627,375
Capital stock paid in
1,412,872
1,479,052
1,256,945 1,419,695
Surplus
1,198,899
Undivided profits—net.
487,504
508,421
557,437
~
•
477,587
Reserves for dividends, contingencies, etc..80,832
0)
0)
Reserves for interest, taxes, and other ex0)
penses accrued and unpaid
64,618
70,326
73,968
83,753
National-bank circulation
651,155
650,946
649,095
649,452
2,899,456
Due to banks
__.
2,856,937 2,738,017
2,175,932
Certified and cashiers' checks and cash
letters of credit and travelers' checks out553,945
590,989
432,905
372,550
standing
10, 743,330 10,887,179 11,003,795 10,504,268
Demand deposits
_
6,313,809
7,315,624 8,296, 638 8,317,095
Time deposits (including postal savings)
144, 504
United States deposits
139,843
185,916
228,243
3 20,655,044 ! 21, 790,572 22,657,271 21,598,088
Total deposits
421,956
Bills payable and rediscounts
368,042
801,185
714,507
3,489
Agreements to repurchase securities sold
3,529
7,217
49,660
221,131
Acceptances executed for customers
248,184
411, 763
392,623
208,873
Ofcher liabilities
_.
_...
210, 805
326,967
287,167

1,743,974
1,591,339
545,873
94,062

25,315,624

Total.

Total
* Included in undivided profits•




i 25,315,624
8

26,581,943

28,508,239

27,440, 228

79,12fr
652,339
2,679,821
738,327
10,926,201
8,752,571
171,964
229,033
8,173
511,007
391,826
29,116,539

EevLsed to include cash letters of credit outstanding,

REPORT OF THE COMPTROLLER OF THE CURRENCY

119

ALL REPORTING BANKS IN THE UNITED STATES AND POSSESSIONS

The statements following show a summary of the resources and
liabilities of all reporting banks in the United States and possessions
on June 30, 1930, and a comparison of these items with the amounts
reported as of June 29, 1929.
Summary of reports of condition of 24,079 reporting banks in the United States
and possessions at the close of business June 80, 1930
[In thousands of dollars]
RESOURCES

Loans and discounts (including rediscounts):
Real-estate loans, mortgagesj deeds of trust, and
other liens on real estate—
On farm land
409, 345
On other real estate
10, 036, 365
Loans secured by United States Government and
other bonds, stocks, and securities (exclusive of
loans to banks)
11, 532, 995
Loans to banks
346, 441
Commercial paper bought in open market; acceptances payable in United States; and notes, bills,
and acceptances payable in foreign countries
844, 286
All other loans.
.
17, 291, 238
Total
40, 460, 670
Overdrafts
49,438
Investments:
United States Government securities
3, 846, 938
State, county, and municipal bonds
1, 702, 146
Railroad and other public service corporation
bonds
3, 328, 266
Stock of Federal reserve banks and other corporations
484, 147
Foreign government bonds and other foreign securities
673, 169
Other bonds, notes, warrants, etc
7, 910, 062
Total
Banking house, furniture and
fixtures
Real estate owned other than banking house
Cash in vault:
Gold coin
Gold certificates
All other cash in vault
„
Not classified

17, 944, 728
1, 810, 357
425, 151
24, 603
48, 022
476, 271
317, 074

Total
Reserve with Federal reserve banks or other reserve agents
Other amounts due from banks
.__
Exchanges for clearing house and other cash items
Other resources (including securities borrowed, acceptances of other
banks and bills of exchange or drafts sold with indorsement, and
customers' liability on account of acceptances) .._
Total resources
22439°—31




9

.— .———— „ -

865,970
3, 433, 102
3, 994, 325
2, 884, 635
2, 151, 748

„_-- 74, 020, 124

120

REPORT OF THE COMPTROLLER OF THE CURRENCY
LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and unpaid. _
National-bank circulation
Due to banks (demand balances)
Certified and cashiers' checks (including dividend checks), and cash
letters of credit and travelers' checks outstanding
Demand deposits (other than bank and United States):
Individual deposits subject to check
21, 087, 523
State, county, and municipal deposits
1, 912, 046
Certificates of deposit (other than for money
borrowed)
*
_
406,253
Other demand deposits
692, 694

3, 889, 419
4, 968, 999
1, 154,804
268, 276
122, 737
652, 339
4, 337, 120
1, 615, 277

Total
24, 098, 516
Time deposits (including postal savings):
State, county, and municipal deposits
592, 203
Deposits of other banks
320, 076
Other time deposits—
Deposits evidenced by savings pass books
24, 114, 691
Certificates of deposit (other than for money
borrowed)
3, 130, 852
Time deposits, open accounts; Christmas savings accounts, etc
1, 166, 866
Postal savings deposits
140, 673
Total
29, 465, 361
United States deposits (exclusive of postal savings)
213, 722
Deposits not classified
117, 199
Total deposits
59, 847, 195
Bills payable and rediscounts
665, 817
Agreements to repurchase United States Government or other
securities sold
47, 678
Acceptances executed for customers and to furnish dollar exchange-_
585, 969
Other liabilities (including securities borrowed and acceptances
of other banks and bills of exchange or drafts sold with indorsement)
1,816,891
Total liabilities




.

74,020, 124

REPORT OF THE COMPTROLLER OF THE CURRENCY

121

Resources and liabilities of all reporting banks in the United States and possessions
June 30, 1930, compared with June 29, 1929
[In thousands of dollars]
June 30,1930 June 29,1929 Increase Decrease

Number of banks

__

24,079

25,330

1,251

RESOURCES

$40,460,670 $41,376, 269
Loans and discounts (including rediscounts)
49,438
56,857
Overdrafts
_
_
17,944,728 17,348,738 $595,990
Investments
1,810,357
1,754,454
55, 903
Banking house, furniture and fixtures
425,151
390,816
34,335
Real estate owned other than banking house..
865,970
819,928
46,042
Cash in vault
_
_._.-._
_
3,433,102
3,192, 200 240,902
Reserve with Federal reserve banks or other reserve agents
3,994, 325
3, 567,525 426,800
Other amounts due from banks
2,884,635
1,691, 772 1,192,863
Exchanges for clearing house and other cash items
2,151,748
1,973, 946 177,802
Other resources
_
_
Total
_
74,020,124 72,172, 505 1,847,619

$915, 599
7,419

LIABILITIES

Capital stock paid in
Surplus
_._
Undivided profits- net
Reserve for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued
and unpaid
National-bank circulation
Due to banks
Certified and cashiers' checks and cash letters of credit and
travelers' checks outstanding
Demand deposits
_
_
Time deposits (including postal savings)
United States deposits
Deposits not classified
:
Total deposits
.
Bills payable and rediscounts
Agreements to repurchase securities sold
Acceptances executed for customers
Other liabilities
„_.
Total..

_

_..

3,889,419
4,968,999
1,154,804
268,276

3, 796, 978 92,441
4,611,698 357, 301
1,097,386
57, 418
161,483 106,793

122,737
652,339
4,337,120

142,776
649,452
3,629,197

2,887
707,923

1,615,277
24,098,516
29,465, 361
213,722
117,199
59,847,195
665,817
47,678
585,969
1,816,891

837,430 777,847
24,350,164
28,787, 617 677,744
286,112
20,121
97,078
57,910, 641 1, 936, 554
1, 630,703
55, 523
449,917 136,052
1,665,948 150,943

74,020,124

20,039

72,172,505 1,847,619

251,648
72,190
964,886
7,845

The table following shows the population of each State, number of
reporting banks, resources and liabilities, a classification of loans and
discounts, investments, cash and demand and time deposits, June 30,
1930, with a recapitulation by classes of banks.




Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June, 19S0 {includes national, State {commercial)
banks, loan and trust companies, savings and private banks)
Resources (in thousands of dollars)

Location

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




Population
(approximate)

Number of
banks

801,000
465,000
359,000
4,260,000
691,000
1,614,000
8,190, 000

131
121
103
449
35
253
1,092

12, 672, 000
4,050, 000
9, 670, 000
240,000
1,635, 000
489,000
j 28,756,000
2,428,000
1,730,000
3,185, 000
1,738, 000
2,909,000
1,480, 000
2, 650, 000
2,010, 000
2,102, 000
5,850,000
1,867, 000
2,626, 000
2, 616, 000
33,191,000

6,663,000
3,233,000

Loans and
discounts Over(including drafts
rediscounts)

Investments

Banking
house,
furniture
and
fixtures

Real
estate
owned
other
than
banking
house

2,468, 276

6,359
4,759
3,459
77,501
4,975
36,320
133,373 I

2,101
1,259
8,225
21, 048
1,170
8,055
41,858

379.404
96,176
221,945
4,527
29,041
23,425
754,518

25,784

5,723

4,851,508
838, 385
2,683,278
51,763
350,906
66,077
8,841,917
102,357
69,646
55,193
42,582
62,139
103,061
51,409
50, 558
76, 707
227,928
36, 657
114,001
74,980

19,114
17,097
19,910
7,034
14,581
11,757
11,678
7,002
27,948
51,309
7,078
15,824
22,874

231,455
150,806
155,098
2,954,858
303,841
919,270
4,715,328

83
23
72
332
15
164
689

1,122 12, 566, 926
560 1,566, 477
1,541 ^094, 656
61
114, 557
226
495,550
40
176,652
3,550 18,014,818

3,833
165
,405
253
50

203,273
148,706
90,380
1,341,175
235,723
449,019

Exchanges
Reserve
for clearwith FedOther
Cash in eral reserve amounts ing house Other rebanks or due from and other sources
vault
cash
other rebanks
items
serve agents
6,036
3,421
2,557
31,572
8,200
15,606
67, 392 I

5,496
3,206
2,633
135,885
20,990
35,588
203, 798

119,990

133, 522
36,425
86,317
1,875
9,733
5,560
273,432

1,167, 751
89, 377
334,551
7,461
49,296
9,508
1,657, 944

9,624
9,785
8,857
4,482
7,721
10,815
7,877
4,926
7,952
27,489
5,192
9,614
8,358
122,692

14,509

71,020
29,702

16,211
68,061
1,411
5,375
3,148

463
290
391
173
398
207
321
315
222
1,293
396
552
479

438, 094
263,6Ji
298,682
116,751
108,916
210,686
158,862
318,265
738,249
157,218
414,040
353,764

160
133
186
220
254
45
131
1,402
907
1,573
229
533
788

5,500

3,843,907

6,561

1,067,218

233> 216

7,329
4,243
4,837
9,228
4,835
4,937
2,426
4,769
12,991
3,529
11,610
9,159
86,577

915

2,033,157
604,987

538
343

205,333

116,969
40,701

22,905
11,429

11,464
3,247
28,026
10, 534
12,031
22, 995
15,315
24, 725
12,024
14,104
221,829
19, 756

17,946
12,504
10,071
167,160
11,851
42,894

1,028
650
59,515
3,191
8,299

262,426

73,483

800

721,263 2,260,308
108,700
19,065
280,704
102,906
6,692
764
39,507
13,019
29,957
7,219
2,403,281

Total resources

961
462
4,008
131,407
6,890
3,995
147, 723

474, 738
325,946
277,153
4,920,453
596,846
1,519, 210
8,114,346

1,187,513
29,518
94,653
565
10,991

23,297,812
2,800,499
6,968,476
189,632
1,003,671
324, 684
34,584, 774

1,326,328
9,299
1,998
1,758
1,450
4,198
4,310

57,357
12,613
41,396
22,847
36,314
49,936
29,077
10,071
53,176
183,374
15,571
50,577
66,523
628,832

15,174
931
6,544
7,577
72,922

4,591
11,101
11,000
2,246
8,665
21,197
85,137

663,460
415,821
448, 554
205,324
435,631
306,841
334,593
264.431
527,051
1,362,782
253,376
643.432
579,324
6,440,620

148,845
111,620

10,035
8,496

70,905
145,988

3,394,085
1,178,355

6,262
2,647
6,865
1,874
6,464
2,632
3,443
1,598
10,911

to
to

Illinois
Michigan
. ..
Wisconsin.„._«_. _
Minnesota
lows
Missouri
„
....._.„__Total Middle Western
States... . .
North Dakota _
-South Dakota
„
Nebraska
Kansas .
. ._
Montana
Wyoming
Colorado - -- New Mexico
OklahomaTotal Western States
Washington Oregon
California. _
Idaho

*

.-„

Utah
Nevada
_ _
Arizona
...
Total Pacific States

_

\laska
The Territory of Hawaii.
Porto Rico
Philippines
_
Total possessions
Total United States and
possessions _

7,637,000
4,876, 000
2, 938, 000
2,571, 000
2,470, 000
3,625,000

1,683 ! 2.820.627
765
1,451, 788
936
631,106
1,015
505, 249
1,262
564,875
1,235
849, 383

1,435
659
397
545
515
701

991,908
511,391
275,422
371,495
203,755
332,893

116,617
79,544
30, 807
21,209
29, 708
31,341

19,796
13,005
7,185
10, 703
26,115
13,258

61,245
32,845
17, 926
20,412
16, 897
22,631

222,481
175, 649
76,265
30, 610
18, 992
34,732

409, 111
56, 974
51,800
126,162
95,841
215, 719

101, 786
39,027
11,611
14, 264
5,845
11,199

137,313
27,960
6,595
17,608
2,196
16,475

4,882,319
2, 388,842
1,109,114
1,118, 257
964, 739
1, 528,332

34,013,000

8,800

9,461,172

5,133

3,590,079

466,896

124,396

272,678

800,314

1,216,072

202,263

425,040

16, 564,043

680, 000
698, 000
1, 386, 000
1,880,000
536, 000
225, 000
1,037, 000
428, 000
2,403, 000

366
374
773
1,051
185
83
270
53
598

72,734
91,430
241,101
276,426
79,757
39,196
152,705
24,758
246,531

104
192
353
461
159
87
267
24
474

28,650
39,717
91,468
99,601
54,837
15,472
88,537
15,123
133,826

4,781
5,049
12,475
15,540
4,529
1,870
7,857
1,528
15,037

3,188
4,010
6,435
4,929
1,626
574
1,895
333
2,521

3,125
3, 355
9,692
9,913
4,361
1,879
7,171
1,483
7,889

7,553
3,832
15,278
12,895
17,938
1,824
27,591
1,921
22,346

6,692
19,044
68,149
75, 364
11, 572
10, 038
49, 252
6,877
81,079

809
1,146
4,770
4,648
1,084
297
5,400
365
4,692

792
1,131
1,357
3,730
811
104
914
180
1,150

128,428
168, 906
451, 078
503, 507
176, 674
71,341
341,589
52, 592
515,545

9,273, 000

3,753

1,224,638

2,121

567,231

68,666

25,511

48,868

111, 178

328,067

23,211

10,169

2,409,660

1, 565, 000
955,000
5, 730, 000
448, 000
505, 000
91, 000
439, 000

296,409
140,267
2,354, 565
47,040
119,929
28,135
46,495

203
161
2,094
90
245
58
41

928
1,616
16,888
1,046
1,667
476
1,832
24,453

42,097
30,453
224,087
14,174
19,561
6,473
5,106

8,612
4,972
87,300
666
2,588
285
1,405

7,205
1,590
120,558
129
2,566
296
439

583, 560
325, 338
4, 236, 459
100, 715
195, 640
48,473
97, 694

2,892

14,357
9,865
114,140
3,399
3,455
1,825
2,310
149,351

45, 760
20, 617
278,370
2,965
6,202
876
8,338

3,032,840

158,323
109, 017
995,810
28,965
37, 596
8,705
28,600
1,367, 016

9,666
6,780
42,647
2,241
1,831
1,344
3,128

9, 733, 000

333
228
437
137
102
35
45
1,317

67,637

363,128

341,951

105,828

132,783

5, 587, 879

59,000
371, 000
1, 550, 000
11, 325, 000

17
20
19
11

15
2,157
352
23, 795

4,937
28,573
1,982
7,499

319
1,457
1,173
1,388

183

101
1,398
1,899
249

26, 319

42,991

4,337

13,271

2,999
3,182

1,741
12,677
2,952
12,784

67

81
581
587
1,117
2,366

1,086
4,895
2,547
4,743

13, 305, 000

6,179
67,221
39,300
55, 267
167,967

30,154

3,647

52
2,861
2,713
18,942
24, 568

14, 511
122,003
53,505
128, 783
318,802

136, 461, 000

24,079

40,460,670

49,438

17, 944, 728

1,810,357

425,151

865,970

3,433,102

3,994,325

2,884,635

2,151, 748

74,020,124

124,584
145, 012
83,188
21, 799
44,243
6, 325
425,151

342, 507
294, 852
176,126
16,018
34,404
2,063
865,970

1,421, 676 2,353, 669 1, 297,487 1, 003, 491
848,129
817, 049
342,186
188, 341
1,045, 843
531, 883 1, 392, 996 728,468
89, 247
4,064
46, 925
3,513
25,856
72, 709
234, 713
1,779
2,351
2,830
519
10, 086
3,433,102 3,994,325 2,884,635 2,151,748

RECAPITULATION
National banks
State (commercial) banks..
Trust companies
Stock savings banks
Mutual savings banks
Private banks
Grand total..




7,252
13,582
1,564
714
606
361

14,887,752
9,216,468
9,475,936
919,318
5,896,023
65,173

9,452
33,918
5,585
187
2
294

6,888,171
2, 947, 712
3,835, 746
3,872,417
21, 749

24,079

40,460,670

49,438

17,944,728

787,750
436, 235
41,105
113,162
3,216
1,810,357

29,116, 539
15,269, 902
17, 702,660
1, 521,109
10, 295, 308
114,606
74,020,124

Assets and liabilities of all reporting banks in the United States, Alaskay and insular possessions, June,

19S0—Continued

to

Liabilities (in thousands of dollars)

Location

Reserves
for
UndidiviCapital
vided
stock Surplus profits- dends,
paid in
connet
tingencies,
etc.

Maine
_
13,960 21,196
6,955 21,546
New Hampshire
8,011
Vermont
15,388
162, 773 241,943
Massachusetts
_
_
16,425 41,782
Rhode Island
49,708 103,461
Connecticut
_
Total New England
257,832 445,316
States
New York
952,006 2,142,196
143,363 179,280
New Jersey
384,446 755,320
Pennsylvania
13.112 24,226
Delaware.
_
42i 223 73,947
Maryland
23,928 20,479
District of Columbia
Total Eastern States... 1,559,078 3,195,448
Virginia
_
39,830
32,174 25,901
West Virginia
_.
33, 652 25, 376
North Carolina
15, 663
South Carolina
_
8,991
39,395 26,043
Georgia
_.
25, 518 13,813
Florida
Alabama..
20, 318
16,154 10,779
Mississippi
_
34,481 21,175
Louisiana
115,103 54,981
Texas
20,403
Arkansas
9,659
49,861 36,875
Kentucky...
44,117 32,557
Tennessee
_.
Total Southern States... 514, 226 326,298
Ohio
_. 194, 857 164,439
75,655j 45, 500
Indiana. ___.-.—..-.—.„..._-..




19,030
4,758
7,935
153,904
9,395
57,125

692
8,273
840
13,128|
6,874

252,147
155,836
56,280
162,839
6.749
14,925
6,325
402, 954
12, 520
8,589
8.134
3,144
10,046
4, 258
8,800
2,964

Reserves
for
interest,
Nataxes,
tional
and
bank
cirother
expenses culation
accrued
and
unpaid

35,405

80,450
8,764
11,690
1.454
1, 812J
1,510
105, 680!
3,179
2,054
2,855
936
1,760
981
1,910
354
1,704
4,090
126
3,057
1,831

30, 552
4,387
9,246
4,056
115, 655 24,837
54,907 11,747
21,299
518

416 4,824
170 4,798
103 4,270
9,758 19,418
423 3,309
1,
10,161

Certified
and
cashiers'
Time dechecks,
and cash
posits United
Due to letters Demand (includ- States
ing
debanks of credit deposits
postal
posits
and
travelers'
savings)
checks
outstanding
4,726
4,803
1,475
188,177
5,950
20,543

82,422 319,799
1,412
41,002 228,028
647
27,064
205,102
555
23, 218 1,102, 803 2,831, 592
1,137 127,528 377,084
5,102 317,801 919,896

12,168 46.780 225,674
4,881,501
32,071
18,014 68,9971, , 633,904 1,286,516 7,674, 469 7,869,547
L
7,315 23.591 40,606
14,363 846,304 1,410,455
8,501 82,659 423,925
43, 550 2,045,865 2,788,347
7~3:
2.784
23
899
63.116
510
6,344 6,887 43; 237
2,026 274', 115 516,848
879 4,905 15, 013
109, 210
2,376 133,204
076 1187,938 2,159,469 1,349, 34111, 047, 514 12, 757,523
1,430 19,367 36,571
198,931 254, 619
4,018
158,197
544 10,153
153, 264
9,882
2,656
764 6,993 25,367
148, 742
7,018
124 3,406
74,729
81, 639
9,257
1,066
1,444
151,693
143,034
7,677 29,849
1,940
482 4,124 21,214
129,128
93,099
2,291
125,454
102,334
7,732
1,007
611 13,641
98,690
95,339
7,220
1,275
579 2,990
6,110 46, 258
3, 525 230.001 144,482
1,846
13,159 698,468 247,413
2,408 41,485 113, 207
108,416
74,274
1,656
525 3,772 14,824
8,960 204,242 215,360
1,052 15,105 26, 574
197,335
2,076 210,926
1,099 15,873 28, 804
12,908 150,696 376, 759
50, 647 2, 555, 524 1,950,934
6,354 1,080,526 1,543,087
2,563 34,619 148,729
7,884 382, 233 282,612
23,459 41,077

220
311
96
22,637
550
3,244
27,058

33,508
7,785
45,414
69
5,824
2,163
94,763
2,914
455
702
1,637
6,032
4,041
3,877
397

1,913
14, 586
268
885
1.148
38, 855
5,818
1,361 i

Agree- AcceptDeBills ments ances
to
posits payable repurexeOther
and
not
chase cuted liabiliclassi- redis- securifor
ties
counts
fied
custies
tomers
sold

1,012
"""467

5,951
4,425
5,581
22,395
325'
18,344

2,000

57,021 2,000
89,229,
137 33,423
101,393;
2.095!
6; 308;
1,008 2,441
137 233,456 2,916
19,698
10,966|
6
19,309
95
4,124
12,851
3,139|
20
16,711
95
22,432
92
11,745
254
50 15, 979
491
14,087i
26
11,691; 31,543
14,754'
50 177,486; 32,704!
39.426,
110,295J 13,844>
1,484

90
225
733
86,218
5,266
50

39,477

91, 534
306,877
1,011
18,632

47,735
986,185

885
279
2,027

2,013

798
6,412

27,699

95, 621
1,038
8,967
208
1,243
326, 728 1,120, 753
640
10,844
980
329

1,840
4,733
1,725
1,572
105
5,061
1,083
13,515
2,362
8,448
9
944
224 28,757
601 24,065
9,940 103,101
6,927 100,040
15 171,772

338,703 225,310 74,795 46,004
29,867
Illinois
125, 693 119,954 39,933 5,655
4,314
Michigan
71, 317 38,887 22,126 5,678
2,172
Wisconsin
61,488 34,522 14,884 2,154
2,833
Minnesota
_.
63, 657 30,186 12,844 2,080
1,375
Iowa
112,148 55,868 28, 755 4r~
798
Missouri
Total Middle Western
1,043, 518 714, 666 269, 543 78, 674
States
44,728
1,244
10, 026
4,453
273
275
North Dakota
2,082
11,620
4,831
253
198
South Dakota
4,612 2,384
30, 537 12,405
1,007
Nebraska
8,535
40, 250 20,038
830
608
Kansas
,
3,228
10, 755
423
5, 540
530
Montana
1,106
238
4,240
3,083!
Wyoming
_
16
339
17,938 12,191 i 5,906
909
Colorado...
322
105
l,490i
3,020
41
New Mexico
6,140
847
33, 505 11,339
745
Oklahoma
_
Total Western States.. __ 161, 891 75,370 33,175 5, 692
40,947
15,171 j
6,731 2,249
Washington.
555
9,4821
551
21, 256
5,053
Oregon
_
401
231,384 159,725
59,253
8, 210
4,679
California2,270!
6,043
814 2,365
Idaho..
88
6,404j
1,746 1,349
11,626
Utah
_
516
1, 2331
35
3,317
824
97
Nevada
4,141!
1,636
5,861
Arizona..
_
320,434 198,426! 76,057 14, 785|
Total Pacific States
6,598
915
464!
410
75!
Alaska
1
6,175
1,073
11,312
354
The Territory of Hawaii
3,798
1,831
6,971
42
45
Porto Rico
516
5,005
13,242
2,013
530
Philippines
549
32, 440
13,475
5, 273
3,203
Total possessions.
930
Total United States and
possessions.
3,889,419 4,968,999 1,154,804
122,737

36,001 458,306
17,782
70, 220
16,632
13,947
87,072
12, 638 41,603
8,723 108, 051
163,8011,001,096
2,302
1,
5,135
6,837 44,769
9,486 27,123
2,251
7,678
1,482
2,772
4,355 23,714
1,354
1,513
6,275 41,916
36,838 156,922
11, 673 41,938
5,761
17, 695
39, 285 317,331
1,423
3,211
2,489
16,215
1,194
2,287
1,220
1,870
63,045 400,547
91
128
3,150
1,925
11,065
3,535
3,241
16,653

53,028[ 1,877,395 1, 590,338
18, 080
839,153 1, 048, 295

6,814
10,040
2,416
9,310

"
351,968
364,609
309,099
759,144

523,133!
514, 703J
474,719
399, 898

5,176;.
2,715
2,3801
1,360
511
2, 869

17
3,489
34

113,926 5,964,127 6,376,785 22,190] 113,835
~994
43,476
60,136|
127
1,253
69, 869
67,766
5351
3,343 200,408
38,886
384
3,748 265, 890 109,344 1,139 1,177
1.1""""
69,254
73,117
373
25, 568
30,910
189
263
259
3,230 154,923
114,164
135
30,776
12,113
803
7,042 277,463
122,497
1,222
21,935 1,146,832 719, 728 4,363
1,177
3,659 219, 586 228,410
2,840
2,527 133, 085 125,033
175
1,068, 732 2,164,767 21,442
1,022
48,715
33,717
103
51, 220
78, 399
39
1,227
16, 632
21, 522
100
634
44,410
36,364
129
1,140
44,839 1, 582, 380 2,688, 212 24,828
5,792
72
387
6,048
39, 519
1,007
47,754
1,278
11, 336
796
12, 418
158
643
46, 872
24,458
347
2,518 103, 519
90, 678 1,665
505

22,745
22, 963
9,223
4,733
7,602
16, 005
136, 541
2,023
2,728
5,079
8,177
2,205
1,414
2,779
856
5,307
30,568
3,801
3,817
11,246
875
3,041
315
417
23,512
128!
770
5,905
430!
7,233

652,339 4,337,120 1,615,277 24,098,516 29,465,361 213,722 117,199 665,817

50
7,:
4,035
405
67

60,233
61,799
8,698
1,968
5,966
20,989

5,238 83,910 431,465
40
158
737
423
5,233
58
60
642
240
64
1,078
"lib
19
25
8,335
4,084
1,818
402
90
10
45,403
405 69,967
30
39
21, 313
45
283
178
632 71,880 71, C
1,708

810

1,708

"1,142
1,952

1,370
2,422
30, 017
33, 809

47,678 585,9691,816,891

RECAPITULATION
National banks
State (commercial) banks
Trust companies
Stock savings banks. _.
Mutual savings banks
Pri vate banks
Grand total.,,

11,743,974 1,591,339 545,873
11,080,960 746, 812 239,420

94,962
86, 802

995, 555 1, 684,184 200,102 69,202
2,086
60,336
13,320
40,666
898,871 154,623 15,157
67
"§,"594
7,127
1,466
3, 889, 419 4,968,999 1,154,804 268, 276|




79,129 652,339 2,679,821 738,32710,926,201 8, 752, 571 171,964
229, 033 8,173 511,007 391, 826
647,985 104,715 5, 636, 021 5, 953,921 4,269 38, 881 249, 083 37, 594 66,312 350, 849
'
26, 278
1,001,867 771,207 7, 363,000 4, 248,970 34, 677 76,929 172, 500 ., 910 8, 628 1 057, 788
16,141
,
6,308
521
640 128, 304 1,260,852 2; 812
1,201
18 4,045
173
10,305 9, 205, 258
9,458
638
152
673
966
34, 685
5,769
30
236
43, 789
22
1,371 10, 483
122, 737j 652, 339 4,337,120 1, 615,277 24,098, 516 29,465, 361 213,722 117,199 665,817 47,678 585,969 1,816,891

Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions, June,

19S0—Continued

to
O

[In thousands of dollars]
Loans and discounts
Real estate loans,
mortgages, deeds
of trust, and other Loans on
liens on real estate securities
(exclusive Loans to
of loans banks
On
On farm other real to banks)
land
estate

Location

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




1,612
694
1,558
1,419
223
546

72,884
89,157
88,514
143, 243
504,863

30,384
25, 735
24,574
574,278
82,979
224,575

Investments
Commercial paper
bought in
open market, and
bills, acceptances,
etc.,

271
58
24,959
460

1,667
6,949
65
70,471
10,438
3,241

United
States
Government
securities

State,
county,
and municipal
bonds

124,637
28,213
40,387
779,833
66, 958
185, 585

25,502
20,130
10,571
151,637
66,294
58,832

12,451
7,700
7,389
284,550
9,481
26,271

All other
loans i

Foreign
Stock of
Railroad
Other
and other Federal re- government bonds,
public serve banks bonds and notes,
and other other for- warrants,
service
eign secorporation corporaetc.
curities
bonds
tions

99, 509
214, 753

5,885
11,438
4,604
61,948
623
68, 635

17,394
8,184
13, 757
34,301
4,930
65, 916

1,136,500

68,273
84, 577
42,405

73,768
16,677
11,654
181, 756
54,886
14,612

6,052

2,402,559

962, 525

25, 748

92,831

1,225, 613

332,966

347,842

153,133

144,482

353,353

9,079
10, 722
17, 914
3,060
12, 507
154

3,851, 983
457, 248
328, 428
25, 786
114, 735
26, 463

5,172,341
409, 643
1,378, 255
57, 920
183,512
78,176

102,893
2,667
45, 698
42
5,622

117,318
70,288
52,580
185
95,495
3,578

3,313,312
615, 909
1,271,781
27, 564
83, 679
67, 798

693,114
137,540
524, 936
5,766
71,643
31,353

98,953
136,151
221,031
6,395
20,360
2,236

376, 765
300, 621
814,202
22,010
158,909
14,999

59, 744
83, 775
22,137
157
28,349
1,854

140,514
55,115
84,705
1,017
37,499
2,697

3,482,418
125,183
1,016,267
16,418
54.146
12| 938

53,436

4,804, 643

7,279,847

157,405 :

5,380,043 1, 464,352

485,126

1, 687,506

196,016

6,387
1,378
2,303
1,809
4,192
1,353
4,593
5,080
3,513
13, 773
2,926
6,295
3,807

13, 778
12, 614
3,543
1,819
29, 652
7,339
8,188
5,512
1,989
43,481
23,433
7,437
6,339

58,299
35, 547
12,939
9,900
52,204
16,339
18,175
7,603
14,509
117,596
5,052
52,938
58,552

10, 688
1,366
1,797
1,052
6,165
2,529
6,921
1,169
3,227
9,683
1,231
3,379
9,637

4,338
349
35
1,002
4,442
4,387
1,920
373
1,248
12, 708
979
3,161
3,134

5,307
1,467
13,136
3,206
2,826
25, 628
7,444
8,865
3,050
24,404
5,536
2,231
6,777

8,247
7,661
552
1,652
5,784
8,974
1,435
981
7,525
1,297
13,351
4,361

3,897
8,685
2,060
640
4,854
3,462
1,755
423
1,173
7,609
583
1,259
2,065

3,533
3,225
518
579
1,795
2,230
2,496
1,289
338
5,086
925
3,653
3,120

50,215
27,377
17,874
29,421
13.152
12,827
14,828
30,821
59,800
69,298
14.153
64,315
39,024

57,409

165,124

459,653

58,844

38,074

66,618

38,465

28,787

443,105

19,444

344, 604
212, 430
278,065
101,169
170,041
76,969
170,889
139,125
293, 779
541,010
123, 597
340,830
272,295
3,064,803

31,158
21, 231
21,053
7,084
33,728
49,940
20,088
7,725
11,365
114,006
14,163
29,192
19, 633
380,366

109,877

301,547 4,707,370

Ohio
Indiana
Illinois
Michigan. _
Wisconsin..
Minnesota.
Iowa
Missouri-_Total Middle Western States

162, 530
633, 412
25, 680
49, 650
285, 910 1,345, 561
550, 680
191, 975
60, 622
158,118
10,448
90,074
33, 424
9,200
104, 723

7,359
6,264
20, 562
8,211
4,781
5,870
5,853
17,415

2,459
7,284
64, 980
3,843
24,178
9,740
7,605
34,143

1,213, 493
504, 485
1,086, 203
690, 632
325,841
376,028
491, 499
680, 601

189, 698
59, 086
292, 990
55,097
62,112
115,874
49,898
40,357

133,125
7,254
153,046
26, 937
30, 752
27,834
11,081
23,114

30, 919
26, 549
60,310
29,870
83,005
30, 239
20, 654
15,210

10,053
3,678
14, 9S8
13,139
5,396
2,158
2,927
14,356

140, 028 1,585, 760 2,136, 055

76,315

154, 232

5,368, 782

865,112

413,143

296, 756

66, 675

24,138
17,803
9,752
4,123
57,303
2,207
42,075
193, 628

804
419
7,124
4,821
361
659
1,368
44
2,857
18, 457

1,076
4,680
11,844
131, 751
2,964
49
1,831
384
4,367
158, 946

60, 726
9,844
42, 791
34,197
181, 554
30,108
89,191
19,005
60,691
30, 962
80,532
38,620
18, 796
7,387
46, 254
186,171
751, 414 i 207,306

2,482
9,018
10,595
37,381
6,601
2,336
12,525
2,591
34,295
117,824

1,775
1,349
3,672
239
1,679
194
75
8,983

6,576
9,532
35, 239
1,921
1,632

13, 904
11,624
17,411
6,447

57, 566
13,089
16, 686
3,301

North DakotaSouth DakotaNebraska.
Kansas
Montana
Wyoming
Colorado
...
New Mexico.._
Oklahoma
Total Western States-

4,943
2,465
12,174
5,041
1,243
2,014
3,984
996
4,108
36, 968

2,340
7,693
4,267
27,819
4,746
1,389
7,687
2,331
6,953
65, 225

Washington..
Oregon
California....
Idaho
Utah
Nevada
Arizona
Total Pacific States...

2,557

5,282
13,148
912, 681
3,845
38,186
5,376
8,478

44, 433
21,873
356, 606
8,228
20,490
4,215
16,354
472,199

1,265
15,327
4,038
5,428
26,058

87
26,817
1,336

Alaska
The Territory of Hawaii.
Porto Rico
Philippines
Total possessions
Total United States and posses-

6

80, 915
1, 669
7,234
2, 621
3,450
105,145

3,054
417
10, 307

2,845

56,476
850
1,621
1,180
4,283

29, 088

409,345 10,036,365 11,532,995 346,441

844, 286

235, 786
87, 666
965, 452
31,138
50,708
15,141
17,150
1, 403,041
===
==
4,195
16, 709
29,244
47, 394
97, 542

4,516
18,375
1,659
12, 911
1,114
11,103
866
2,565
57,093

273
262
846
1,047
380
,168
1330
116
2,116

21, 491
8,815
23,529
11, 967
24,302
14,025
7,084

312, 596
99, 951
447,065
374,381
69,855
181,365
112, 111
233, 253

117,816 1,830,577
=============
3,216
8,851
2,309
8,614
10,240
17, 215
1,937
27,469
4,883
11,057
669
4,292
3,392
21,267
116
4,047
2,950
29, 712 | 148, 458

55, 505
46, 796
448, 519
10, 975
10, 924
2,304
13,103
588,126

14,357
25, 982
156, 795
5,033
7,973
2,720
5,685
218,545

18, 202
16,173
34, 583
2,431
5,615
875
2,726

1,657
6,496
156
401
"8, 710

523
8,070
974
222
9,789

1,071
1,491

50
1,259
7
1,814

395
2,295

3,188

3,130

2,690

1,241
8,962
845
4,436
15,484

484,147

673,169

7, 910,062

212,375
44, 911
133, 369
2,099
88,173
3,220
484,147

527, 706
33, 518
40, 647
1,""
599

1,157, 779
1,927,338
2, 690, 515
277, 549
1,842, 700
14,181

673,169

7, 910,062

1,483
795
11, 645
459
4,817
153
538
19,890

17, 291, 238 3,846,938 1, 702,146

6,811
8,650
3,062
1,814
421
751
48,135

61,965
10, 621
317, 642
7,005
6,453
2,232
5,797
411, 715

RECAPITULATION
National banks
State (commercial) banks.
Trust companies.
Stock savings banks
Mutual savings banks
Private banks...
Grand total.
1

296, 970
87,341
18, 689
1,854
599
3,892

1,176,031 5, 484, 713 339, 587
2,852
1, 536,684 1,435, 529
3,697
1,284, 963 4,534,946
514,388
14, 278
78
5,516, 904
60, 855
7,395
2,674
227

409, 315 10,036,365 11,532, 995 346, 441

517, 295
186,512
130,353
315
8,489
1,322
844, 286

78, 692
152, 549
1,897

791, 954
289,000
139,858
6,368
473,800
1,166

1, 444, 416
163,085
461,358
12, 419
1, 246, 302

3,846, 938

1, 702,146

3,328, 266

7,073,156
5,967, 550
3, 503, 288

2, 753, 941
489,860

309,176
49, 663
17, 291, 238

Includes $10 218,082,000 reported for banks other than national, a part of which should probably be classified elsewhere in the schedule.




Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions, June, 1980— Continued

to

[In thousands of dollars]
Demand deposits

Cashi

Location
Gold
coin

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 V i r g i n i a North Carolina.
South CarolinaGeorgia
Florida
Alabama
_
Mississippi
Louisiana
Texas
Arkansas..
Kentucky
Tennessee
Total Southern States




Time deposits

Other time deposits
State,
Individual
State,
Certifi- Other county, Deposits
Gold All other
deposits
Time de- Postal
certfi- cash in Not clas- subject to jounty, and cates of demand and mu- of other Evidenced Certifi- posits, open savings
sified
municipal deposit deposits nicipal
cates
vault
banks by savings cates of accounts, deposits
check
deposits
deposits
deposit Christmas
savings, etc.
1,611
3,069
1,040

123
235
104
1,208
960
1,222

6,745
13, 532

2,015

3,852

39, 666

21,859

1,098
1,486
4,729
68
364
106

9,666
7,184
2,290
18
161
2,900

32,077
27, 755
79,298
1,759
9,208
2,554

90, 681

7,851

22, 219

152, 651

90, 711

9,867,814

644, 284

288
172
121
63
309
140
306
240
297
1,189
263
206
225

344
140
105
142
104
478
198
47
65
663
79
223
125

5,047
4,552
2,349
1,560
7,308
7,098
4,502
4,639
7,590
25,637
4,850
3,439
4,103

3,945
4,921
6,282
2,717

5,746
3,905

179,441
143,102
128, 380
70,564
137,196
87,500
113,424
65, 387
201, 653
606, 292
73,387
196, 203
183,796

10,059
10, 746
32,048
3,876
7,091
38,739
10,209
32,666
8,762
74,594
30,007
7,627
24,386

8,662
1,100
4,732
251
7,222
164
1,561
172
1,617
9,419
4,255
334
2,534

3,819

2,713

82, 674

33,486

2,186,325

290,810

42,023

91
117
72
388
495
852

00

4,211
1,341
16,307

78, 224
34, 557
25,484

1,547
2,921
560
38,875
6,350
24,049

2,650
1,854
1,011
12, 671
5,644
16, 251

1
1,670
9
11, 325
51
10, 498

505
43
31
3,001
2,740
1,893

312, 770
223,484
202, 753
" 18," 578" 2, 627, 885
338, 622
883, 277
130

1, 560, 683

74, 302

40, 081

23, 554

8,213

18,971 4,588, 791

160, 573

6,853, 002
671,136
1,935, 657
57, 219
224,567
126, 233

368,825
156,181
82, 385
16,315
20,573
5

56,504 246, 050 6,683, 252
43,165 409, 477
22, 599
2,586 1, 308, 319
15, 017
3,970
10,609
1,618 2,454,015
16, 743 11, 080
60,295
17
105
6
475,172
2,187
1.118 27,857 | 5,00i
733
500
90, 509
679
6, 233 I
76,793 458, 623
95,318 253,120 11,071, 562

115,483
267, 003

30'

3,099
2,871

263

3,249
1,489
38
184
2,725
260
465
17,969
8,163
767
78
210

4,411
50
2,164
361
10
4,693
1,050
563
352
5,137
60
1,526
129
745
. 414
19,874
955
276
146
2,978
705
10,177

179, 642
107, 380
86,641
60,425
98, 776
58,129
90,047
55, 394
105,827
157,289
45,577
107,993
105,304

36,366

53,008

3,824

1,258,424

5,486
2,036
1,832
98,914
30, 728
21,577

971
1,922
446
80,182
4,718
10,329

67
280
40
3,032
276
2,690

243,198
29,694
250,202
761
11,340
9,611

621, 652
45,620
62,792
1,878
23,064
7,561

18,891
1,637
9,111
77
84
350

544,806

762, 567 j 30,150

6,385

14,911
34,447
15,940
7,983
37,659
37,888
58,769
26,573
38,867
77,292

2,392
1,774
236
465
6,162
1,248
1,388
1,327
194
6,554
922
65,204
3,465

444
1,023
710
1,135
2,036
12,293
1,340
85
159
3,972
926
172
392

519,660

91,331

24,687

67,664
43, 037
58, 630

North Dakota _ South Dakota
Nebraska
Kansas
_
Montana
Wyoming
Colorado.
New Mexico
Oklahoma
Total WesternSStates
Washington
Oregon
California
Idaho
Utah
_ __
Nevada
Arizona
Total Pacific States

_

.

509
799
2,373
373
318
301
385
208

716
1,194
2,934
929
2,036
586
1,102
372

13,032
9,448
55,938
7,637
15,572
7,399
5,416
5,548

23,906

5,266

9,869

70
62
653
706
215
140
1,335
70
186

79
91
126
4,095
136
55
552
68
482

3,437

Ohio .
Indiana^..„ - ^ » . - _ . > . . „ __-..
Illinois
Michigan .
._ _ „_ _. __
Wisconsin
Minnesota
.
_ _.
Iowa
Missouri
Total Middle Western
States
-.
._

5,684

34, 501

254
339
569
51
237
90
148
1,688

118
128
1,023
7
202
823
366

5,311
3,659
20,872
834
1,392
431
2,614

2,667

35,113

28,169

169
116
94
148
527

38
89
482
409
1,018

879
4,640
1,971
4,186
11,676

603

48,022

476, 271

14, 748
5,362
3,780
38
641
34

34, 373
7,166
5,034
727
691
31
48,022

Alaska
The Territory of Hawaii
Porto Rico
Philippines
_.
Total possessions
Total United States and
24,
possessions

56, 763
18,261

12,126
9,994
16,503

830, 304
335,765
1, 774,763
605, 513
266, 359
291, 590
276,599
733,987

206,179
35,044
64,728
41,842
73,656
55, 547
18,199
15, 223

18,886
1,509
35,985
102, 625
11,327
5,268
10,080
8,963

25,157
9,915
1,919
89,173
628
12,204
4,221
971

23,340
668
90,089
7,455
8,568
2,169
568
7,956

645
825
10,329
182
30
7,451
782
613

1,255, 537
167,298
1,166,437
901, 612
284,137
278, 210
235,376
345,405

221,113
108,137
260,099
124, 772
220,672
213, 753
226,405
36, 337

41,134
4,164
58,459
13,152
8,386
5,575
3,358
7, 041

l s 318
1,520
4,925
1,122
1,340
7,545
8,230
2,546

119,990

137, 553

5,114,880

510,418

194, 643

144,186

140,813

20,857

4, 634, 012

1,411, 288

141, 269

28,546

1,590
1,502
8,913
5,112
4,010
1,684
5,284
1,345
5,061

1,386
1,700

4,880
16, 269
29,901
53, 544
16,973
7,485
12, 327
8,969
41, 609

2,502
2,361
10, 343
12, 030
2,519
2,005
3,833
1,584
3,077

190
80
493
508
174
243
1,505
55
878

2,624
1,893
1,840
339
14
160
1,774
127
12, 541

47
2

2,160

35,904
51,159
159, 671
199,808
53,451
21,177
137,258
20,168
231,899

47
11

15,140
15,168
32, 744
29, 307
37,965
11, 038
88,431
5,915
40,137

39, 320
46, 216
98, 506
66,814
25, 766
11, 753
19, 648
4,586
39,408

840
439
3,045
9,682
37
127
994
169
24,908

2,165
4,048
2,751
3,202
5,472
2,479
3,317
1,269
5,492

5,246

910,495

191,957

40, 254

4,126

21, 312

118

275,845

352, 017

40,241

30,195

3,983
2,654
20,183
1,349

164, 529
103,627
990, 549
33,113
43,196
13,933
36, 694
1, 385, 641

50, 382
25,130
65,095
14,335
6,790
2,487
7,219
171,438

2,310
2,637
3,728
1,138
371
204
382
10, 770

2,365
1,691
9,360
129
863
8
115

294
69
15,466
12
7,060
190

191, 543
98,195
1,818,149
19,115
57,943
20,029
27, 269
2, 232, 243

30, 020
19, 661
48, 630
12, 017
10, 095
968
3,926
125, 317

885
1,330
23, 320
221
1,253

5,273
3,684
2,722
2,232
447
322
1,267

14, 531

395
2,094
256,480
120
1,601
13
3,191
263, 894

1 011
8,668
1,338
19,820
28,837

77
889
532
191

4
9,614
1,168
522

7
6,450
3,188

95

4 805
26, 521
8,772
13, 716

733
12, 016
326
4,116

50

4,700
22, 348
8,298
26, 339
61, 685

1,689

11, 308

9,645

95

53,814

17,191

5,170

4,763

317,074

21, 087,523

1,912,046

406, 253

692, 694

592, 203

320,076 24,114,691

3,130,852

1,166,866

140,673

50

11

23, 091

711
27, 720

15,947

2,653
12
2,505

503
19
120
4,121

RECAPITULATION
National banks
__State (commercial) banks. _
Trust companies
Stock savings banks
Mutual savings banks
Private banks
Grand total.
1

24, 603

106,853
68,968
800
5,356

175, 471
98, 344
14,453
27, 716
1,090

476,271

317,074

All cash in national banks included in first E columns.




9,455,422
4,925, 065
6, 545,487
122, 799
10, 032
28, 718
21,087,523

1,153,701 143, 511 173, 567
494, 743 149,872
66, 341
261,125 107,150 449,238
83
3,601
1,821
200
71
2
2,194
2,048
1,725
1,912,046 406,253 692, 694

437,849 203, 751
30, 631
2,450
39, 774 106,881
83, 622
6,958
295
32
36
592, 203 320,076

6,070,683 1,357,461
4,441, 542 1, 332, 337
3,320,666
323,827
1, 066,605
99, 587
9,190,566
403
24,629
17, 237
24,114,691 3,130,852

574,847 107,980
131, 251 15, 710
442,482
15, 340
1,643
2,437
13,994
1,855
140,673

130

REPORT OF THE COMPTROLLER OF THE CURRENCY
DEMAND AND TIME DEPOSITS IN ALL REPORTING BANKS

A classification of the demand and time deposits in each class of
reporting banks follows.
Demand and time deposits in each class of banks June SO, 1930
[In thousands of dollars]
Demand deposits
Number of
banks

State,
Individual county, Certifi- Other
deposits and mu- cates of demand
subject to nicipal deposit
check
deposits
4, 925, 065
6, 545,487
122, 799
10,032
28,718

Total

State (commercial) banks.
Loan and trust companies.
Stock savings banks
Mutual savings banks
Private banks

13,582
1,564
714
606
361

Total.
National banks.
Grand total

16,827
7,252

11, 632,101 758, 345 262, 742 519,127 13,172,315
9,455,422 1,153, 701 143, 511 173, 567 10,926,201

24,079

21,087, 523 1,912,046 406,253

494, 743 149,872 66,341
261,125 107,150 449,238
83
1,821
3,601
2
200
71
1,725
2,194
2,048

5, 636,021
7,363,000
128,304
10,305
34,685

692, 694 24,098,516

Time deposits
State,
Deposits
county, Depos- evidenced
its of
and
by savmunic- other
ipal de- banks ings pass
books
posits
State (commercial) banks. 30,631 2,450
Loan and trust com39,774 106, 881
panies
83,622 6,958
Stock savings banks
295
Mutual savings banks
36
32
Private banks
._
Total
National banks.
Grand total.

Time
deposits, Postal
Certifi- I open ac- savcates of ' counts,
ings
deposit i Christ- deposmas savits
I ings, etc.

4,441, 542 1,332, 337
3, 320, 666
1,066, 605

9,190, 566
24, 629

323,827
99, 587
403
17,237

131, 251

Total

Total
demand
and time
deposits

15, 710 5,953,921 11, 589,942

442,482 15,340 4, 248,970 11, 611, 970
2,437 1,643 1, 260,852 1, 389,156
13,994
9, 205, 258 9,215,563
1,855
43, 789
78,474

154,354 116, 325 18,044,008 1, 773,391
437,849 203, 751 6,070, 683 1,357,461

592,019 32, 693 20, 712, 790 33,885,105
574, 847 107,980 8, 752, 571 19,678,772

592,203 320,076 24,114, 691 3,130, 852

140, 673 29,465,361 53,663,877




131

REPORT OF THE COMPTROLLER OF THE CURRENCY

RESOURCES AND LIABILITIES OF ALL REPORTING BANKS ON OR
ABOUT JUNE 30, 1926-1930

The resources and liabilities of all reporting banks June 30, 1926 to
1930, are shown in the following statement:
[In thousands of dollars]
1926 (28,146 1927 (27,061 1928 (26,213 1929 (25,330 1930 (24,079
banks)
banks)
banks)
banks)
banks)
RESOURCES

Loans and discounts (including redis«
counts)
_
—
Overdrafts..
Investments.
Banking house, furniture and fixtures—
Real estate owned other than banking
house
_
_
Cash in vault
Reserve with Federal reserve banks or
other reserve agents
Due from banks
Exchanges for clearing house and other
cash items
Other resources
Total

36,001,030
49,470
15,815,141
1,493,050

37, 270, 378
43,450
17, 255, 093
1, 580,105

39, 542, 067
50,407
18, 771, 814
1, 663, 696

41, 376, 269
56,857
17,348,738
1,754,454

40,460,670
49,438
17,944,728
1,810,367

358, 917
996,520

399, 473
1,007,896

403,967
887,845

390,816
819,928

425,151
865,970

2,926, 586
3,842,475

2, 932, 954
3,967,448

3,105, 840
3,616,408

3,192, 200
3, 567, 525

3,433,102
3,994,325

2,037, 561
1, 372, 612

2,181.167
1, 494, 594

1, 753,098
1, 779,186

1, 691,772
1,973,946

2,884,635
2,151,748

64,893,362

68,132, 558

71, 574,328

72,172, 505

74,020,124

3, 273,303
3,471,968
1,063,171

3, 376,498
3,764, 527
1,131,206

3, 525, 522
4,145, 529
1,226,361

3, 796,978
4,611,698
1,097,386
161,483

3,889,419
4,968,999
1,154,804
268,276

142,776
649,452
3,629,197

122,737
652,339
4,337,120

3 724,190 3 1,205,821
3 882, 519
837,430
19,553,122 23,784,702 24,306,651 24,350,164
24,401, 527 26, 381,693 28, 538,109 28, 787, 617
187, 827
194, 024
222, 816
286,112
4,871,986
895, 730
399,938
20,121
354,069, 257 356, 751, 307 358,431,061 57,910, 641
923,142
829, 508
1,566,146
1,630, 703
2 3,489
2 3, 529
2 7, 217
55, 523
2 221,131
2 248,184
2 411, 763
449, 917
« 1,152,128 » 1, 306, 527 « 1, 527, 881 1,665,948

1,615,277
24,098,516
29,465,361
213,722
117,199
59,847,195
665,817
47,678
585,969
1,816,891

LIABILITIES

Capital stock paid in
Surplus
Undivided profits—net
Reserves for dividends, contingencies, etc
Reserves for interest, taxes, and other expenses accrued and unpaid
National-bank circulation
Due to banks
Certified and cashiers' checks and cash
letters of credit and travelers' checks outstanding
Demand deposits
Time deposits (including postal savings) _.
United States deposits4
._
Deposits not classified
Total deposits
_
Bills payable and rediscounts.
Agreements to repurchase securities sold—
Acceptances executed for customers
Other liabilities
Total.
Included in u n d i v i d e d profits.

0)
2 64, 618
651,155
4,330,605

64,893,362

0)

0)

2 70,326
650,946
4, 289, 337

2 83,753
649,095
4,081,028

68,132, 558

71, 574,328

72,172, 505

74,020,124

For national banks only-figuresfor banks other than national included in undivided profits.
Revised to include cash letters of credit sold by national banks and outstanding.
For banks other than national.
Includes cash letters of credit sold by banks other than national and outstanding.




132

REPORT OF THE COMPTROLLER OF THE CURRENCY

Principal items of resources and liabilities of all reporting banks in continental
United States, as compared with similar data for member banks of the Federal
reserve system^ on or about June SO, 1930
Member banks

Items

Loans 3
_._
Investments
Cash__
_
Capital
Surplus and undivided profits
Deposits (demand and time)_
Aggregate resources

All
reporting
banks: 1
24,012
banks (000
omitted)

40,315,822
17,901,737
852,699
3,856,979
6,105,055
73,701, 322

Per cent
Mutual
Private
to all
savings
banks: a
reporting banks: 2 361 banks
Per cent banks, 1 606 banks
8,315
to all
(000
banks (000 reporting except
(000
mutual
omitted)
omitted) omitted)
banksi
savings
and
private
25,213,770
10,441,889
484,262
2,721,997
3,820,872
31,873,955
47,906, 740

62.54
58.33
56.79
70.57
62.59
59.72
65. 00

73.39
74.54
59.33
70.73
75.77
72.32
75.69

5,896,025
3,872,417
34,404
1,053,494
9, 215, 563
10, 295, 308

65,467
21,749
2,063
8,594
8,593
78,474
114,606

1 Exclusive of banks in Alaska and insular possessions.
2
Included in all reporting banks in column 1.
3
Including overdrafts.

BANKS IN THE DISTRICT OF COLUMBIA

A classification of banking associations in the District of Columbia,
together with capital, demand and time deposits, and total resources,
June 30, 1930, follows:

National banks
Loan and trust companies
Savings banks
Building and loan associations
Total

_

64

Capital

Demand and
time
deposits *

Total
resources

$10,775,000
10,400,000
2,753,000

Number

$125,340,000
76,339,000
40,735,000
2
64,480,000

$172,894,000
104,366,000
47,424,000
71,629,000

23,928,000 i 306,894,000

396,313,000

* Amounts due to banks not included.
> Share payments mainly.
EARNINGS, EXPENSES, AND DIVIDENDS OF BANKS OTHER THAN
NATIONAL IN THE DISTRICT OF COLUMBIA

The following statement shows comparative figures concerning the
earnings, expenses, and dividends of banks other than national in the
District of Columbia for the years ended June 30, 1930 and 1929:




133

REPORT OF THE COMPTROLLER OF THE CURRENCY

Earnings, expenses, and dividends of trust companies and savings banks in the
District of Columbia
[In thousands of dollars]
6 months ended Dec.
31, 1929
7 trust
companies

Capital stock __
Surplus
—
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

6 months ended June
30, 1930

Year
Year
ended ended
June
June
1930,
22 sav- 29 total 6 trust 22 sav- 28 total 30, 28 30,1929,
29
ings
comings
banks b a n k s l banks
banks banks

panies

banks

11,400
9,571
612

2,751
1,896
198

14,151
11,467
808

10,400
9,950
618

2,753
1,904
131

2,040

1,101

3,141

1,677

1,014

2,691

5,832

5,978

530

230

760

459

212

671

1,431

1,608

73

27

100

73

25

98

198

202

10

14
2

21
12

6
7

15
3

21
10

42
22

45
21

4
348
69
387

23

27
348
103
496

8
254
12
406

26

34
109

37
120

34
254
49
526

61
602
152
1,022

92
589
183
937

3,468

1,540

5,008

2,902

1,452

4,354

9,362

9,655

778

401

1,179

773

395

1,168

2,347

2,283

20
23
327
447
351
309

22
3
49
379
84
242

42
26
376
826
435
551

9
20
334
411
322
305

23
2
72
83
236

32
22
406
734
405
541

74
48
782
1,560
840
1,092

39
69
859
1 545
878
1,050

2,255

1,180

3,435

2,174

1,134

3,308

6,743

6,723

1,213

360

1,573

728

318

1,046

2,619

2,932

12
5
4

12
5
4

13
9

9
1
15

22
1
24

34
6
28

20
69
58

1,213

381

1,594

750

343

1,093

2,687

3,079

39
12

82
12

121
24

7
68

64
21

71
89

192
113

224
100

85
6
7

34
30

119
6
37

73
130
9

14
7
15

87
137
24

206
143
61

206

„

149

158

307

287

121

408

715

655

Net addition to profits

1, 064

223

1,287

463

222

685

1,972

2,424

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

13,153 2 13,153
11,854 211,854
749
1,557

14,105
11,348
1,577

125

* Number of reporting banks June 30, 1930.
s Capital and surplus as of June 30, 1930.
BUILDING AND LOAN ASSOCIATIONS IN THE DISTRICT OF COLUMBIA

The resources of the 24 building and loan associations operating
in the District of Columbia under the supervision of the Comptroller
of the Currency on June 30, 1930, totaled $71,629,000 and exceeded
by $5,665,000 the resources of 22 associations on June 30 a year ago.




134

REPORT OF THE COMPTROLLER OF THE CURRENCY

The loans, which aggregated $68,143,000, showed an increase in
the year of $4,577,000. Installment payments on shares increased
also from $58,916,000 to $64,480,000.
Nineteen of the associations operated on the permanent plan, and
five on the serial plan. The total membership was 74,272, as compared to 71,205 members a year ago, and of the total in the current
year the numbers borrowing and nonborrowing were 20,430 and
53,842, respectively.
The statement following discloses the number of building and
loan associations in the District of Columbia, their aggregate loans,
installments paid on shares, and total resources on June 30 of each
year 1909-1930. Summaries of the resources and liabilities of the
individual associations as of June 30, 1930, together with consolidated
statements of assets and liabilities and receipts and disbursements
for the six months ended December 31, 1929, and June 30, 1930, are
published in the appendix of this report.
Number
of associations

Years

June 3 0 —
1909
1910
1911
1912
1913
1914
1915
1916
1917
1918
1919___
1920 —
1921
1922
1923
1924
1925
1926
1927
1928
1929
1930

-

--

_.
..

_.
.

_ .

_
_

22
19
19
20
20
20
20
19
19
20
20
21
24
22
23
23
24
22
22
22
22
24

Loans

Installments
on shares

813, 511, 587 $11,996,357
14,415, 832
13,213,644
14,965, 220
13, 324, 217
16, 004, 700 14, 529,977
17, 398,010
16,453,044
18, 582,156
17,113,899
19, 524,065
17,866,337
20,186, 662
18,668,808
20,951,089
19,413, 266
21, 567,904
20, 252,005
23, 654, 000 22,463, 000
27, 398,000
25, 373,000
29, 520,000
27, 593,000
33, 233,000
30, 506,000
36,157,000
32,858,000
38,968,000
35,452,000
42,482,000
38, 653,000
46, 781,000
42, 794, 000
50,940,000
47,887,000
57, 505,000
53, 738, 000
63, 566, 000 58,916,000
68,143,000
64,480, 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
43,829,000
59, 855,000
65,964,000
71, 629,000

BUILDING AND LOAN ASSOCIATIONS IN THE UNITED STATES

Statistics relative to building and loan associations in the United
States have been obtained through the courtesy of Mr. H. F. Cellarius, secretary United States League of Local Building and Loan
Associations, with headquarters at Cincinnati, Ohio, and are published in the following statements.




EEPOKT OF THE COMPTEOLLEE OF THE CURRENCY

135

Number of building and loan associations, total membership, and total assets, etc.,
for the year ended in 1929, by States
Number
of associations

State
Pennsylvania
_
Ohio
___
New Jersey
M assachusetts
California
Illinois
New York
Indiana....
Wisconsin
Maryland 3
Missouri
Louisiana
Nebraska
Michigan-.Oklahoma
Texas
Kansas
Kentucky
Washington
North Carolina
District of Columbia
Virginia
Colorado
Utah
Iowa
._
Arkansas
West Virginia
Minnesota.
Alabama
Oregon
Rhode Island
South Carolina3
Connecticut
Maine
Florida
Montana
Mississippi
Tennessee
_
_
Delaware
New Hampshire
Wyoming
North Dakota
South Dakota
Georgia
New Mexico
Idaho
Arizona..
Vermont
Nevada
Total

3,901
810
1, 562
227
222
927
309
402
187
1,200
237
106
83
69
91
176
155
158
73
233
24
91
69
24

74
71
63
79
40
39

8
151
44
36
69
27
43
38
44
29
13
20
23
36
19
14
8
14
4
12, 342

1 Decrease.
2 Increase from June 30, 1928, to Dec. 31,1929.
a Estimated.

22439°—31-

-10




Total
member-

Total assets

ship
1,650,000
2, 388, 625
1, 200, 000
519,198
437, 584
918,000
593, 098
450, 373
303, 407
330, 000
265, 774
204, 496
252, 638
212, 672
265, 679
187, 880
211, 938
170, 500
293, 816
105,058
72, 043
65, 000
117, 023
126, 536
64, 421
75, 271
67, 300
92, 554
42, 500
51,000
42, 021
33, 000
32, 808
29,000
16, 500
43,728
29,500
21, 300
19, 500
17,208
20, 750
19, 600
10,880
15,083
5,047
6,900
6,700
5,940
1,360
12, 111, 209

Increase in
assets

$59,943, 656
$1,400,000 000
1, 283, 665i 876
46,145,259
1,151, 503,097
119, 074, 037
543, 654, 998
27, 516, 610
477, 226,110 2 180,036,715
448,423, 317
28, 495, 532
422,141, 230
20, 680, 594
14, 047, 877
312, 330, 284
282, 781, 402
31,162, 283
215, 000, 000
5, 000, 000
198,852, 368
19, 224, 3G3
190,561,316
3, 6G9, 269
163,460, 364
2,061, 436
161,105, 257
18, 466, 603
139,808, 782
9,196, 654
137,015, 904
23,981, 515
132,186, 748
6, 072, 543
110, 805, 706
13, 367, 294
105, 316, 958
i 10, 608, 275
95,848,057
838. 537
68,409, 716
5,04.5, 768
58, 878, 642
3,878, 642
54,017, 612
4,463, 766
51, 680,143
6,027, 331
49,045, 649
2,763,153
43, 601, 366
3, 731,149
41,827, 485
2,123, 806
39,422, 419
2, 683, 491
30, 271, 200
2,473, 256
28,320, 667
3,352,452
27,827,463
2,110, 806
26, 500, 000
2, 500,000
24, 730, 822
2,141, 768
23.508, 352
2, 526, 810
21, 658, 451
55,088
20, 367, 830
1,982, 964
19,862, 916
1,827, 914
15, 532, 832
3,169, 202
14,031,047
2, 203, 234
12, 726, 849
l s 224, 487
11,121, 886
i 149,172
10,952, 539
482, 920
5,439, 587
i 801, 354
5,149, 446
1,195,445
4, 805, 512
633,161
4,474, 998
679, 256
4,414,866
1, 670, 064
4,066,425
780,149
i 28,165
819, 670
8, 695,154,220

679,119, 893

Increase in
membership
i 103. 253
i 63,400
i 50,000
6,484
114,424
45,000
15,977
10, 205
6,434
24,094
11,137
2,638

343

49,548
22,100

118

15,800
i 19, 056
i 3,112
3,500
4,200
1 14, 505
1490
12,667
8,583
1,130
9,464
3,750
300
4,252
3,000
2,000

327
500

1772
2,900
1,350

850
725

1327
600
1 1,799
3,029
i 2, 553
600

1,200
792
U15
115, 304

136

REPORT OF THE COMPTROLLER OF THE CURRENCY
Mortgage loan investments of building and loan associations, by States
[

Total mortgage loans outstanding

Increase of Per cent;
mortgage
loans out- mortgage
loans to
standing
assets,
over pre1929
vious year

States
1928

Alabama
Arizona
,
Arkansas
California—
Colorado
Connecticut
Delaware
District of Columbia.
Florida
Georgia
Illinois
—
Idaho
_
Indiana
Iowa
-_.
Kansas
______
Kentucky
_
Louisiana
_._
Maine
_
._
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska.
>_
_
Nevada
New Hampshire
New Jersey
New Mexico
_
_
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Dakota
Tennessee
Texas
Utah
Vermont
___
Virginia
_
Washington
West Virginia
Wisconsin
Wyoming
Other States

$24,318, 425
2,447,468

0)
266,310,898
0)
20,978,101
10.197,113
60,222,013
17,500, 795
3,313,640
390,365,096
3,412,094
270,981,555
42, 594, 603
105,611, 662
95.313,114
174,862,061
19,842,888
480,109,722
129,008, 767
30,061, 785
16,429,885
160,104, 264
16,072,136
137,500,496
796,900
11,000,311
971,081,756
3,593,275
367,081,909
88,169,545
9,010,131
, 112,090,129
120, 341,040
22,000,000
, 178,880, 643
24,026,119
S, 406,355
11,293,052
96,047,589
40,288,018
3,182,351

1929

$25, 634,807
3,968,295
37,965,108
416,802,996
45,117,257
22,752,873
12,062,400
65,163,001
17,074,400
4,457,486
415,190,738
4,001, 215
282,837,023
45,081,130
107,956,918
108,611, 540
173,887,938
22,048,158
502,637,271
147,942,994
33,234,090
17,891,290
178,416,924
18,281,801
139,870,118
745,974
12,196,619
1,062,722,473
4,064,291
380,170, 540
88, 585,047
10,384,000
1,146,545,352
127,719,842
22, 538, 321
1,200,000,000
25,915,049
4,793, 245

(0

$1,316,382
1,520,827

0)

1150,492,098

0)
1,774,772
1,865,287
4,940, 988
3 426, 395
1,143, 846
24,825, 642
589,121
11,855,468
2,486, 527
2,345,256
13,298,426
3 974,123
2,205, 270
22, 527, 549
18,934, 227
3,172, 305
1,461,405
18,312, 660
2,209, 655
2,369, 622
3 50,926
1,196, 308
91,640,717
471,016
13,088, 631
415, 502
1,373,869
34,455,223
7,378,802
538,321
21,119, 357
1,888,930
3 613,110

0)

91, 576,271
34, 566,509
242, 564, 784
10,115,956
346,333,702

122,886,727
42,716,239
3,883, 293
52,837, 266
83,864, 584
36,954,310
269,287, 737
9,405,288
230,301,417

26,839,138
2,428, 221
700,942
(l)
3 7,711,687
2,387,801
26, 722, 953
3 710,670
8,594,294

j 7,267,004,926

TotaL_

84.6
89.9
87.1
87.4
83.5
92.0
85.9
96.7
78.9
86.5
92.5
89.4
90.5
91.1
81.7
98.0
91.3
93.8
92.4
91.8
84.3
90.1
90.2
89.7
85.6
91.0
95.0
92.3
84.5
90.0
92.4
94.8
89.4
91.3
79.5
85.7
93.1
88.1

7,787,405,383

520,400,457

82.6
95.0
79.6
88.3
95.2
84.5
89.6
89.6

I
i Included in "Other States."
«Increase from June 30, 1928, to Dec. 31, 1929.
'Decrease.

Failures of building and loan associations, 1920-1929
Total
number Total resources
of associations
1920
1921
1922
1923
1924
1925 1926
1927
1928_._._
1929

Total

_

__

_

____

__

8,633
9,255
10,009
10,744
11,844
12,403
12, 626
12,804
12, 666
12,343

$2, 519,914,971
2,890,764, 621
3,342, 530,953
3,942, 939,880
4,765,937,197
5, 509,176,154
6,334,103,807
7,178, 562,451
8,016,034,327
8,695,154, 220

Number
failed

Estimated
loss

Per cent;
of loss
to total
resources

2
6
4
9
18
26
12
21
23
U59

$506
91, 547
158, 674
132, 612
398, 245
500, 000
380, 725
1,013, 000
568, 000
2,312, 626

0. 00002
.0032
.0047
.0034
.0084
.0090
.0060
.0141
.0071
. 0266

280

5,555,935

1
Located as follows: Alabama, 2; Arkansas, 1; Mississippi, 1; Missouri, 2; Pennsylvania, 151; Tennessee.
 Virginia, 1.
1; and West


REPORT OF THE COMPTROLLER OF THE CURRENCY

137

MONEY IN THE UNITED STATES

Statements showing the stock of money in the United States in the
years ended June 307 1914 to 1930; the classification of money in
circulation June 30, 1930; and imports and exports of merchandise,
gold, and silver in the calendar years 1914 to 1929, and the nine
months ended September 30, 1930, follow:
Stock of money in the United Stales, in the Treasury, in reporting banks, in Federal
reserve hanks, and in general circulation, years ended June 80, 1914 to 1930
In general circulation, exCoin and other Coin and other
Held by or for
clusive of amounts held
Coin and money in Treas- money in report- Federal reserve
by reporting banks,
other
ing banks 2
ury as assets *
banks and agents
Federal reserve banks,
money
Year ended
and Treasury,
in the
•lane 30—
United
Per
Per
Per
Per
Per
I States Amount
cent Amount cent Amount cent Amount cent capita

1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925
1928
1927
1928
1929.
1930

Millions Millions
338.4
3,797.8
348.2
4,050.8
299.1
4, 541. 7
269.7
5,678.8
363.5
6,906.2
585.1
7, 688.4
490.7
8,158.5
463.6
8,174. 5
_„.
406.1
8, 276.1
386.5
8,702.8
359.4
8,846. 5
363.8
8, 303. 6
353.2
8, 429. 0
350.9
8, 667. 3
351.3
8,118.1
373.1
8, 538.8
247.2
8, 306. 6

8.91
8.60
6.59
4.75
5.27
7.61
6.01
5.67
4.91
4.44
4.06
4.38
4.19
4.05
4.33
4.37
2.98

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
866.5
799.1
853.8

42.92
35.74
32.41
26.19
12.78
12.76
12.84
11.33
9.84
8.93
10.18
11.30
11.57
11.36
10.67
9.36
10.28

Millions
383.0
593.3
1,342. 7
2,061.0
2, 226. 7
2, 200. 2
2, 799. 9
3,406. 8
3,493. 0
3,637. 8
3,124. 6
3,190. 5
3,465.1
2, 970. 2
'3,419.4
3, 537. 3

9.45
13.06
23.64
29.84
28.96
26.97
34.25
41.16
40.14
41.12
37.63
37.85
39.98
36.59
40.04
42.58

Millions
1,829.4
1,871.7
2,177.1
2,579.1
3, 599.0
3,895. 3
4,420. 3
3, 984. 7
3, 649. 2
4, 046. 2
3,948. 5
3, 876.9
3,910.1
3,866. 2
3,930.1
3,947. 2
3, 668. 2

48.17
46.21
47.94
45.42
52.11
50.67
54.18
48. 75
44.09
46.49
44.64
46.69
46.39
44.61
48.41
46.23
44.16

18.46
18.56
21.24
24.74
33.97
36.67
41.50
36.84
33.22
36.34
35.01
33.95
33.82
33.03
33.18
32.93
29.77

1
Deposits In national-bank depositories to the credit of the Treasurer of the United States not included.
2
Money in banks of island possessions not included.
NOTE.—Populaf ion of continental United States and Alaska estimated at 109,833,000 in 1922; 111,358,000
in 1923; 112,777,000 in 1924; 114,195,000 in 1Q25; 115,614,000 in 1926; 117,034,000 in 1927; 118,455,000 in 1928;
119378,000 in 1929, and 123,215,000 in 1930.




Circulation statement of United States money June 30, 1930
00
Money outside of the Treasury

Money held in the Treasury

Kind of money

Total amount i
Total

Gold coin and bullion
Gold certificates
_
Standard silver dollars
Silver certificates
Treasury notes of 1890
Subsidiary silver . _ _
Minor coin
United States notes
Federal reserve notes
Federal reserve bank notes
National-bank notes.. .
Total June 30, 1930

Reserve
Amount
against
held in trust
United
against gold
States
and silver
certificates notes (and
(and Treas- Treasury
notes of
ury notes
1890)
of 1890)

In circulation
Held for

Federal
reserve
banks and
agents

All other

Total

Held b y
Federal
reserve
banks and
agents 2

Amount

3 $4,534,865,706 $3,493,522, 533 $1, 489,989, 479 $156, 039,088 $1. 796,239, 235 $51, 254, 731 $1,041,343,173 $684,107,489 $357,235,684
495,148, 330
(1,489,989,479)
1, 489, 989, 479
994,841,149
539,959, 520
6, 599, 227
6, 273, 463
44, 902,132
488, 458,161
495, 057, 388
38,628,669
4
487,198, 111
(487,198, 111)
100, 282, 831
386,915, 280
4
1, 260, 050
(1, 260, 050)
1,260,050
305, 744, 872
310, 978, 375
5, 233, 513
24, 513. 628
281,231, 234
5, 233, 513
121, 823, 367
4,177, 685
126, 001, 052
4, 387, 792
117,435,575
4,177, 685
343,833, 310
2,847, 706
346, 681, 016
55,444, 084
288, 389, 226
2,847, 706
1, 726, 070 1, 744, 774, 815
1, 746, 500, 885
342, 708, 767 1,402, 066, 048
1, 726, 070
3, 207, 877
52,165
3, 205, 670
52,165
3, 260, 042
2,207
678,997, 765
19, 319, 703
650,679 377
19, 319, 703
698. 317, 468
28, 218, 388
6
8, 306, 564, 064 s 4, 021, 936, 763 1,978, 447, 640 156, 039, 088 1, 796, 239, 235 91, 210, 800 6, 263, 074, 941 1, 741, 086,979 4, 521,987, 972
8, 325, 418,198
8, 538, 796,192
8, 479,620, 824
5, 396, 596, 677
3, 796, 456, 764
1,007,084,483

« 4, 009, 071, 208
5 3, 789, 886, 214
fi 2,436, 864, 530
5 2, 952, 020, 313
s 1, 845, 575, 888
« 212, 420, 402

1, 932, 002, 579
1, 854, 372, 591
718,674, 378
2, 681, 691, 072
1, 507,178,879
21, 602, 640

156, 039, 088 1, 832, 336, 835
156, 039, 088 1, 562, 425, 579
152,979,026 1,212,360, 791
152,979, 026
150, 000, 000
100, 000, 000

w
c
o

4

Comparative totals:
May 31, 1930
June 30, 1929 7
Oct. 31, 1920
Mar. 31, 1917
June 30, 1914
Jan. 1, 1879

Per
capita

Population
of continental
United
States
(estimated)

88, 692, 700
217, 048, 956
352,850,336
117, 350, 216
188, 397, 009
90, 817, 762

6, 248, 349, 569 1, 696, 881, 635
6, 603, 282, 569 1,856,986,000
6, 761, 430, 672 1,063, 216, 060
5,126, 267, 436
953, 321, 522
3, 458, 059, 755
816, 266,721

4 551 4fi7 Q34

4, 746, 296, 562
5, 698, 214, 612
4,172, 945, 914
3, 458, 059, 755
816, 266, 721

$2.90
8.08
.31
3.14
.01
2.28
.95
2.34
11.39
.02
5.29
36.71 123,156,000
37, 59
39.62
53.01
40.23
34,92
16.92

1*21.094.000
119^ 788, 000
107, 491, 000
103,716,000
99, 027, 000
48, 231, 000

W
o
g

b

•

1
2
3

Includes United States money in circulation in foreign countries and the amount held by the Cuban agency of the Federal Reserve Bank of Atlanta except gold coin.
Includes money held by the Cuban agency of the Federal Reserve Bank of Atlanta.
Does not include gold bullion or foreign coin other than that held by the Treasury, Federal reserve banks, and Federal reserve agents. Gold held by Federal reserve banks
under earmark for foreign account is excluded, and gold held abroad for Federal reserve banks is included.
4
These amounts are not included in the total since the money held in trust against gold and silver certificates and Treasury notes of 1890 is included under gold coin and bullion
and 6standard silver dollars, respectively.
The amount of money held in trust against gold and silver certificates and Treasury notes of 1890 should be deducted from this total before combining it with total money
outside of the Treasury to arrive at the stock of money in the United States.
6
This total includes $36,675,623 of gold deposited for redemption of Federal reserve notes, $28,226,376 deposited for redemption of National bank notes, $1,900 deposited for
retirement of additional circulation (act of May 30, 1908), and $7,691,499 deposited as a reserve against postal savings deposits; also $20,758,412 of notes in process of redemption,
part 7of which are a charge against the redemption funds mentioned above.
Revised figures.




d
W
o

REPORT OF THE COMPTROLLER OF THE CURRENCY

139

Imports and exports of merchandise, calendar years 1914 to 1929, inclusive, and
from January 1 io September 30, 1930
Excess of
exports over
imports

Imports of
merchandise

$1, 789, 276, 001
1, 778, 596,695
2,391, 635,335
2, 952,465, 955
3, 031, 304,721
3, 904, 364,932
5,278,481,490
2, 509,147,570
3,112,746,833
3, 792, 065, 963
3, 609, 962, 579
4, 226, 589,263
4,130,888,000
4,184, 742,000
4, 091,444,000
4,399, 361,000
1
2,401,838, 000

Total, 16 years and 9 m o n t h s
1

$3,113,624,050
3, 554,670,847
5, 482, 641,101
6,226, 255,654
6,149,241,951
7, 920, 425,990
8, 228,016,307
4,485,031,356
3,831,777,469
4,167,493,080
4, 590, 983,845
4,909,847, 511
4,808, 660,000
4,865, 375,000
5,128, 356,000
5,240,995,000
1
2,958,509,000

$1,324, 348,049
1, 776, 074,152
3,091, 005, 766
3, 273, 789, 699
3,117, 937,230
4,016, 061,058
2,949, 534,817
1,975, 883,786
719, 030,636
375, 427,117
981, 021, 266
683, 258, 248
377, 772, 000
680, 633,000
1, 036, 912,000
841, 634,000

57,884,910,337

1915
—
1916---.1917
1918
1919
1920
1921
1922.-1923--1924
1925
1926
1927
_..
1928
1929
1930 (9 m o n t h s ) .

Exports of
merchandise

85, 661, 904,161

27,776,993, 824

671,000

Preliminary, subject to correction.

Gold and silver imports and exports in period indicated
GOLD
Imports
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
.
1924
1925
1926
1927
1928
1929
1930 (9 m o n t h s ) . . -

Exports

Excess of
exports over
imports

-_

-

Total, 16 years and 9 months

$222,616,156
31,425,918
155,792,927
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
201,455,000
560,760,000
116, 583,000
101,658, 000

$165,228,415

5,209, 617, 990

__

$57,387,741
451,954,590
685,990, 234
552,454, 374
62,042,748
76, 534,046
417,068,273
691,248,297
275,169, 785
322, 715,812
319, 720,918
128,273,172
213, 504, 000
207, 535,000
168,897,000
291,649,000
287,473, 000

3, 022, 926,950

983,109, 235

$25, 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
55,074, 000
68,117,000
63,940,000
34,178, 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
75, 625, 000
87,382,000
83,407,000
42,158, 000

$25, 643,873
19,114, 930
38 331 748
30,790,399
181,470, 765
149,611, 033
25, 556,183

1, 032, 840,839

1, 642, 111, 688

630, 922, 229

Excess of
imports over
exports
$420, 528,672
530,197,307
180,570,490
20,972,930

291,651,202
94,977,065
667, 356, 920
238,294,891
294,072,395
258,072,605
134,366,618
97, 796, 000
6,080, 000
391,863,000
175,066, 000
185,815,000
3,169,800, 275

SILVER
1914
1915
1916
1917
1918
1919
1920
1921
1922
1923
1924
1925 . _
1926
1927
1928
1929

-

---

.

- -

. _
- -

1930 (9 months)
Total, 16 years and 9 months




_

$11,667,272
7,999,367
1,984,741
35, 946,131
34,532,167
22,662, 000
20, 551, 000
19,265, 000
19,467,000
7,980,000
21,651, 380

MONETARY STOCK OF PRINCIPAL COUNTRIES OF THE WORLD

The following statement, furnished by the Mint Bureau, shows the monetary stock of the principal countries
of the world at the end of the calendar years 1928 and 1929:
Monetary stock of principal countries of the world, end of calendar year 1928
[The compilations have been made from such data as are available. 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.
All foreign coin which comes into possession of the Government is converted into bullion.]
[Stated in United States money ( O omitted), except paper circulation, which is stated in monetsry unit of issuing country (000 omitted)]
OO
Monetary unit

Gold stock

w
O
H
O

Per capita

W
Authenticated statistics
Country

Monetary
standard

Name

North America:
Gold.__. Dollar
United States
...do
Canada
do
Peso .
Mexico
--. ...do
. . . d o . . . Dollar
British Honduras
Costa Rica
Colon
...do
Cuba
Peso
Dominican Republic.
Dollar..
do
Quetzal
do
Haiti
Gourde
8
Honduras
do._
Lempira
Newfoundland 8
. . . d o . . . Dollar
. . . d o . . . . Cordoba
Nicaragua
do
Balboa
Panama,
...do
Colon
Salvador
do... Franc
Virgin IslandsIndiesBritish West 8
...do . . . Pound
Barbados
...do
do .
Jamaica _
. „
do..
Trinidad. ...do
Dutch West Indies _. ...do
Guilder




United
States
equiv- In central Total aualent
banks or thenticated
government
gold
treasuries * holdings 37

.

$1.00
1.00
.4985
1.00
.25
1.00
1.00
1.00
.20
.50
1.00
1.00
1.00
.50
.193
4. 8665
4. 8665
4. 8665
.402

$3, 746,112
113,948
6,238

$3, 762, 686
i 160,856
2 19, 474

5 10
11, 095

10
12, 562

1,618

Unauthenticated
or estimates

In
banks

$24, 800

2,466

Outside
banks
and government
treasuries 38

Total
gold
stock

$353, 935

$4,141, 421
160,856
19,474

22, 256
90
100
8 125
40
1,000

4,911

16.

4,911
86

2

10
953

1,047

Paper cirSilver
culation, in
stock in monetary Populabanks
unit of
tion
and treasissuing
uries
country

O
Gold

Silver

Paper
O
IT1

10
34,818
90
2,566
8 125
40
1,000
10
4 911
88

10
1,047

$849,995
3 27, 738
4
12, 765
202
3 366
8,631
240
31,312
8 30
500
2,300
3 440
90
3 69
1
3 791
3 6,448
155

4,124,456
193,156
3,628
546
24,138

s

9,200
13, 270
1 185
0
3,505

17, 241
8 9 500
308
12 2,187
5,298

122, 698
9,797
16, 404
50
504
3,599
1,200
2,177
2,500
800
271
750
467
1,723
21
164
994
397
66

$33. 75
16.42
1.19
.02
9.67
.075
1.18
.05
.05
3.69
.02
2.85
4.19

.03
15.86

$6. 93
2.83
.78
4.00
.73
2.40
.20
.60
.01
.62
8.49
.59
.19

33.61
19.72
.22
10.92
47.89

W
a

4.23
5.31

w
w

.68
4.67

a

3.29

10.01
23.81

.79
16.24
2.35

.07
.31
5.51
B0. 27

French West IndiesGuadeloupe
Martinique...
South America:
Argentina
Bolivia....
Brazil
Chile
Colombia
Ecuador
Guiana—
British
Dutch
French §
Paraguay
Peru
Uruguay
Venezuela
Europe:
Albania
Austria
Belgium
Bulgaria
Czechoslovakia
Danzig
Denmark
Estonia
Finland
France20
Germany
Gibraltar»
Great Britian and
Irish Free State.
Greece
Hungary
Iceland
Italy
Latvia
Lithuania
Netherlands
Norway
Poland
Portugal 22
Rumania
Russia 23
Spain 20
Sweden 20
Switzerland
Yugoslavia

__do
...do
_do_.
.do.,
.da..
_do_.
-do.,
-do..

Franc
...do
Peso 34
Boliviano.
Mili
Peso
....do
Sucre

.do,....
.do.....
-do.....
-do....
..-do—_s.
..-do...s.
...do.....

Dollar—.
Guilder
Franc
Peso 1S
Pound
Peso
Bolivar

...do—.
...do
...do
..do... .
(30)
Gold....
.do.,
.do..
_do_.
.do.,
.do.,
.do.,
.do..

Franc
Schilling
Belga
Lev
Krone
Gulden
Krone.
Kroon.__ ...
Mark
Franc
Reichsmark.
Pound
—do

.do..
_do_.
.do..
.do.,
.do.,
.do..
.do..
.do..
.do.,
.do.,
.do..
..do..
..do...
.do..
..do.,
.do-

See footnotes at end of table.




Drachma....
Pengo
Kronu—...
Lira
Lat.
Litas
F l o r i n or
guilder.
Krone
Zloty
Escudo
Leu_
Chervonetz.
Peseta.
Krona..
Franc..
Dinar..

.0392
.0392
.9648
.365
.5462
. 1217
.9733
.2000
1.0138
.402
.0392
.9648
4. 8665
1.0342
' .193
.193
.1407
.139
.0072
.0296
. 1947
.0252
.0392
.2382
4. 8665
4.8665 '
.0130
.1749
.268
.0526
.193
.10
.402
.268
.1122
1. 0805
.0060
5.1457
.193
.193
.193

296
965
607, 353
6,500
148, 591
7,363
24, 271
1,124

24

296
965

618, 931
7,998
148, 591

618, 931
7,998
148, 591
9,118
26, 771
1,124

26, 771
1,124

8 86
94
489
22, 317
69, 557
15, 672

94
21, 490
68, 364
15, 672

22, 317
69, 557
15,672

241
23, 743
i i" 125, 574
9,558
1
34, 351
1
46, 298
i 1, 710
7,672
1, 248,064
i 650,126

241
23, 743
125, 574
9, 558
1
34,351
1
1,710
7,672
1, 248, 064
1 665, 821

241
743
574
558
351
1
46, 298
1,710
7,672
1, 248, 064
665, 821

2 749, 768

773, 294

773, 294

7,196
35,169
601
265, 732
4,584
i 3, 427
174, 692

7,321
35,169
601
265, 732
4,584
1 3, 427
174, 692

7,321
35,169
601
265, 732
4,584
3, 427
174, 692

39, 363

39, 363

1 69, 685
9,267
i 50, 082
91, 886
493, 807
63, 460
i 102. 874
17; 566

9,267
1 50, 082
91, 886
493, 807
63, 460
1 102, 874
17, 566

23,
125,
9,
34,

6,066

25

36, 000

41, 720
13 10
» l, 632
11, 464
14494
3 205
8 334
194
3
8

7,224
5,171
9, 000

1, 405,
44,
3, 379,
211,
64,
36,

875
204
026
861
771
563

1,575
1,701
11, 400
200, 899
6,122
62, 484
89, 996

10, 095
61
1, 067, 363
16 4
2, 471, 600
is 283
4,173, 017
3,654
»
1 1, 520 • 8, 465, 908
39, 416
« 1, 950
360, 200
2,153
38, 868
1, 513, 213
28, 209 62,181,154
3
5, 647, 237
207, 926
2i 160
434, 075
3 250, 000
66
3 2, 456

3 70, 212
3
4, 632
3 1, 350
3 47,195

5, 689, 550
513, 461
7,446
17, 456, 393
76, 872
84, 774
865,143

45,429
315, 500
1,876
3
69, 685
1, 394, 284
9,139
9,267
1, 976,184
1
50, 082
653 21, 211, 000
91, 886 24 3 120, 912
182,110
493,
63,
138,
17,

807
658
874
566

134, 717
903
II, 198
3, 384

4, 377,167
546, 013
952, 645
5, 528,170

238
228

1.25
4.23

11,193
3,104

39,104
4,364
7,993
2,500

55.30
2.58
3.80
2.09
3.35
.45

151
47
844
6,187
1,850
3,027

.57
2.00
.58
3.61
37. 60
5.18

834
6,694
8,060
5,825
14, 611
409
3,518
1,115
3,612
41,130
64, 036
18
48, 692

.29
3.55
15.58
1.64
2.35

.10

.37
1.44
.20
.67
2.21
4.13
1.17
2.79
2.97

163.08
182. 98
125.60
14.24
86.43
48.55
8.10
14.63
5.13
11.26
242. 55
237. 98
1.00
53.78
29.47

.07

15.88

12.10
159. 45
306. 65
716. 40
579. 42
96.37
102. 39
34.86
418. 94
.69 1, 511. 82
3.24
88.19
8.89
5.13
8.91

106
41, 508
1,900
2,340
7,833

1.18
4.06
5.66
6.40
2.41
1.46
22.30

.01
.28
1.69
2.44
.58
6.03

916. 92
59.28
70.24
420. 56
40.45
36.23
110. 45

2,821
30, 733
6,440
18,172
153, 800
22, 603
6,120
4,018
13, 500

16.10
2. 2,7
1.44
2.76
.60
21.85
10.40
34. 56
1.30

.66
.30

111.84
45.37
306. 86
1,167. 24
1.18
193. 65
89.22
237.09
409.49

6,205

13.16
1.53
2.12
30.34
10.40

.03
.63
.10
4.77
.61

.04
.79
5.96
.15
2.79
.25

Monetary stock of principal countries of the world, end of calendar year 1928—Continued

Authenticated statistics
Country

Monetary
standard

Name

Asia:
British North Borneo. Gold.... Dollar
Ceylon
do
Rupee
Silver
Gold
Cyprus Island
Federated Malay ...do
C h i n a 26

States.
India, British
do
Indo-China, French., Silver
Japan, including Gold
Chosen, Taiwan,
Kwantung.
Netherland East In- ...do
dies.
Palestine
do
Persia .8
Silver
Philippine Islands
Gold.
do
Sarawak
do
Siam
do
Straits Settlements
do
Syria
do
Turkey
Africa:
do
Algeria
do
Belgian Congo
do
Egypt 8
Silver
Eritea
Ethiopa (Abyssinia) _ do
French Equatorial Gold
Africa.
do
French West Africa
Gambia
do
Gold Coast
do
Kenya and Uganda 3 _ ...do
2
do
Morocco
...do




Dollar
Pound
Dollar

Rupee
Pilaster.. . .
Yen
Guilder

United
States In central Total auequivbanks or
alent government thenticated
gold 37
treasuries 36 holdings

$0. 5678
.365

$14

Unauthenticated
or estimates
Outside
banks
and government
treasuries 3
8

In
banks

$14

Total
gold
stock

$14

(27)

$292

4 8665
.5678
i 124. 000

292

i 124,000

124, 000

.4985

540, 873

540, 873

540, 873

.402

68, 264

68, 264

68, 264

.365
(27)

4 8665
Pound
(27)
Kran
Peso..
.50
Dollar
5678
Baht or tical. .4424
.5678
Dollar
3:859
Pound._
4 3965
Lira

3,026
1,598

3, 518

3,518
1,630
2 $6, 746 13 15,680

1,630
22, 426

Paper cirSilver
culation, in
stock in monetary Populabanks
unit of
tion
and treasissuing
uries
country

52, 825

2,000
116, 403
130,912

900
10, 000
11.922
600
11, 506
1, 169
2,832
13, 850

13, 800
210
2,838
6,147
3,744
5,000

31 28, 231
1,692
22, 043

20, 042
3,119

.30

2.22
11.64
10.98

356, 545

s 2, 920
32, 726
19, 089
29 96
23, 005
3 12, 763

622, 467
191
1,797
30, 451
294, 051
709, 065

.

6.75

160,119

0392
4 8665
4 8665
.2433
0392
.0392

1

3.03
3.24
3.27
1.60
.16
2.00
10.92

6.48

do
Pound
do
Shilling
Franc
do

3,119

1.29

318, 942
21, 200
83, 457

1,324
32 606, 099

3,119

5.93
6.69
22.37

1, 891, 023
141, 875
1. 866, 541

0392

(27)
(27)

5. 24
1.04
2.66

1, 671, 482
28 22, 042
221, 850

6, 255
10, 000
14, 319
450
10, 000
3,130

8,955
1,948
19, 006

1, 777, 481
157, 587
30, 398

Paper

8.13
10.48
1.21
1.18
2.16

293
5,479
489, 500
349
3,919

129, 068
146, 931
8,610
153, 749

Silver

$2.36
.29
2. 19
.04

2,383
57, 417
590, 018
412
8,472

.0392
.0278
4. 9431

8,955
1,948
19, 006

Gold

5 $12, 945
142, 553
766
158

Franc . . . _.
do
PoundThalari
do
Franc

2 8, 955
1,948
19,006

to

Per capita

Gold stock

Monetary unit

$0.84
.39

1.39
7.92
1.43
.19
1.33

1.97
3. 76
2.20

3.26
.62

11. 22
125. 69
3.04
11.10
284.16
15.75
2.12
.13
196. 64
45.11
.91
.63
4.95
78.54
141. 81

Nigeria
Nyasaland..

_. .

P o r t u g u e s e East
Africa.
Portuguese
West
Africa.
Reunion Island
RhodesiaNorthern
Southern
Sierra Leone 8
Somaliland—
British 8
French
Italian 8
Sudan, Anglo-Egyptian.
Tanganyika
Tunis 8
Union of South Africa
Zanzibar
Oceania:
Australia
New 'Zealand.-Fiji Islands
Society Islands

...do
do

..do

Pound._
_. do
Escudo

4. 8665
4.8665
1. 0805

Angolar _

...do

Franc
Pound

do
do

do
do

4.8665
4.8665
4 8665

10
842

16
842

do

Rupee
Franc
Lira
Pound

.365
.0392
.0526
4.9431

191

191

_..do
do
do

Shilling
. do . . Franc
Pound
...do
do
Rupee
do

2, 512

27.54

174

232.61

787
925
107

122
953
155

1,309
1, 014
1,700

750
4,410
2,000

345
65
1,000
6,553

9,844
239, 654
7,227
2, 799

4, 748
2, 180
7,895
203

10.00

45, 645
7,460
432
18, 952

6,414
1,486
180
36

37.59
23.46
2.39

2.23

1, 937,173

5.60

2.21

227

do

- ..do

do

...do

Total

Pound
. . do
do
Franc

1. 0805

2.433
.0392
4. 8665
.365
4. 8665
4.8665
4. 8665
.0392
"

33

24

70

70

63

40
842

191
1,863
8,896
4,637

31,975
108, 430
13431

33, 074

i 45, 942
2

115,044
2
34, 866
431

79, 016
241.120
34, 866
431

2 126, 076

16, 389
550

2 13 401
1

10, 025, 900

10, 219, 586

1
In part held abroad, either reported as earmarked (set aside and not included in the
claimed assets of the holding institution, as opposed to being merely deposited abroad
or representing a receivable balance), or considered to be earmarked by United States
Federal Reserve Board experts.
2
Including some silver.
3
Including silver in circulation.
< On Apr. 30,. 1928.
« On Oct. 31, 1928.
6
United States bank notes.
7
United States Government notes.
8
Last year's figures or figures of previous years,
s In United States dollars.
1 Newfoundland Government notes only.
0
11
There is no Panama paper money. United States bills circulate, but the amount
thereof is unknown.
1 In Trinidad dollars.
2
is Figure for 1929.
14
Including some nickel.
is Paper currency stabilized at 42.61 Paraguayan paper to 1 Argentine gold peso and
18.75 Paraguayan paper to 1 Argentine paper peso.
is Exclusive of 1-schilling and ^-schilling coins.
1 On Dec. 25.
7
is Including some minor coin.




.11
1.18

40, 475

2,251
1,605

.0392

...do

160
438

18, 810
1,360
3,520

475

...do

42

75, 712
69,172

118
438

118
438

160,602

467, 613

10, 847, 801

4, 285, 793

•

.11
.12

.03
.83
2.93
.01

.01

21.51

.60
.91
.06

.09
.94
.09

1.38

2.17
67.85
2.00

1.86
1.36
.98
2.08
2.71

2.07
109.94
.92
13.78
7.12
5.02
2.40
526. 44

•

19
Including State notes.
20 On Dec. 29.
2 Exclusive of Spanish bank notes.
1
22 On Dec. 26i
23 On Jan. 1, 1930.
2
* Includes platinum.
25 Estimate.
2
6 Incomplete.
27 Fluctuates with the price of silver.
28
May include some gold.
29 Includes notes.
so Monetary standard not established.
3 In circulation.
1
32 On June 30,1928.
33 On June 30,1929.
34 Paper peso currency legally convertible at 44% of face value.
35 Value of paper currency fixed at 4.567 paper milreis to the gold rnilreis ($0.1196) for
payment of public dues.
36 From United States Mint interrogatories and/or published official sources.
37
Includes in addition to holdings of central banks and governments, holdings of other
banks where authenticated.
ss
Data known to be incomplete.

w

fej

n
O

a
o
W

o
F
F

a

Monetary stock of the principal countries of the world, end of calendar year 1929 (subject to revision)
[Stated in United States money ( O omitted), except paper circulation, which is stated in monetary unit of issuing country (000 omitted)]
OO
Monetary unit

Authenticated statistics.

Country

Monetary
standard
Name

North America:
United States
Gold—
Canada
...do
Mexico
...do
British Honduras ._
do
do
Costa Rica6
Cuba
.. ...do
Dominican Republic. ...do
Guatemala
do
do
Haiti
_
...do
Honduras
do
Newfoundland
Nicaragua
—do....
do
Panama
Salvador^
. . do
Virgin Islands
...do
British West IndiesBarbados
do
Jamaica _.
_do
do
Trinidad«
Dutch West Indies . do
French West IndiesGuadeloupe
do
Martinique. _
_
.do .
South America:
Argentina
._ do
Bolivia
do
do
Brazil
Chile
. __ do
Colombia
...do
.
Ecuador
...do



Dollar
do
Peso
Dollar
Colon
Peso
Dollar
Quetzal
Gourde
Lempira
Dollar
Cordoba
Balboa
Colon
Franc
Pound
do

United
States
equivalent

$1.00
1.00
. 4985
1.00
.25
1.00
1.00
1.00
.20
.50
1 00
1 00
1 00
.50
.193

Guilder

4 8665
4. 8665
4 8665
.402

Franc .
do

In central
Total aubanks or thenticated
government
gold
30
treasuries
holdings 3 l

$3, 900,160
77, 626
7,229

$3,915, 433
2124, 478
619, 474

10
11,160

Peso 2
8
Boliviano .
MOreis s o Peso

do
Sucre

.9648
.3650
12.5462
.1217
.9733
.2000

Ilnauthenticated
or estimates

In
banks

Outside
banks
and government
treasuries a2

Total
gold
stock

$24,000

$344,490

$4, 283, 923
124, 478
e 19, 474

10
12, 792

2,167

2,167

22,027
129
502
128
50
1,000

221
20
6 10

4,911

4,911
82

.0392
.0392

do

Per capita

Gold stock

9

10
1, 696

1,743
296
20

433, 816
4,978
150,138
7,695
21, 774
1,114

444, 429
4,978
150,138
7,695
23,932
1,114

10
34, 819
129
2,890
128
70
6
1 , 000
10
4,911
91

10
1,743
296
20

6 1, 633
22

444, 429
4,978
150,138
9,328
23, 932
1,136

Silver
stock in
banks
and treasuries

$855,498
34 5 28,638
5 9,566
«202
366
4 8, 631
4 5 1,284
1,512
16
500
6 2,300
529
W17S
4 93
1
4 951
4 6, 448
278

24

10
31, 285
3 4 11,778
4900

Paper circulation, in
monetary
Populaunit of
tion
issuing
country

4, 024, 525
337, 979
2,721
501
24,138
(7)
(8)
8,361
9,436
1,200
M85
6,152
(")
17, 241
209

122, 698
9,797
16. 404
50
504
3,599
1,200
2,177
2,500
800
271
750
467
1, 723
21

1
393
2 2,187
6
5,992
42,457
46, 709
1, 247, 000
42, 526
3, 394, 980
351, 620
47, 070
29, 977 J

Gold

Silver

$34. 91
12.81
1.19

$6.97
2.92
.58
4.04
.73
2.40
1.07
.69
.01
.63
8.49
.71
.37

.02
9.67
.11
1.33
.05
.09
3.69

Paper

32.80
34.50
.17
10.00
47.89
3.84
3.77
1.50
.68
8.20

2.85
4.33

4.43

10. 61
9.95

164
994
397
66

.03
26.41

.96
16. 24
4.21

.40
5.51
90.79

236
228

1.25
.09

.10

179. 88
204. 86

11,193
3,104
39,104
4,364
7,993
2,500

39.71
1.60
3.84
2.14
2.99
.45

.29
1.47
.36

111.41
13. 70
86.81
80.59
5.89
11.99

GuianaBritish
do
Dutch»6
do
do
French
. do
Paraguay..
...do
Peru
. do
Uruguay
Venezuela
...do.....
Europe:
Albania . _ . __ . . do
do
Austria
—do . .
Belgium-- .
Bulgaria
_ __._ do
do
Czechoslovakia
do
Danzig
Denmark...
do
Estonia
—do
do
Finland13
France _ _
. do _
Gfirm*vny
do
Gibraltar. .
_ _ do _
Great Britain and
do
Irish Free StateGreecfi.. _ _
...do . .
Hungary
do
do
Iceland
Italy
—do —do
Latvia
...do .___
Lithuania _.
Malta and Gozo
do
Netherlands
_ ...do .._

Dollar
Guilder
Franc
Peso
Pound
Peso
Bolivar

1 0138
.4020
0392
.9648
4. 8665
1. 0342
.1930

Franc
Schilling
Belga
Lev
Krone
Gulden
Krone
Kroon
Mark
Franc
Reichsmark.
Pound

.1930
.1407
.1390
.0072
.0296
.1947
.2680
.2680
.0252
. 0392
.2382
4. 8665

374
23, 727
i 163, 332
9,997
i 37,249
2
46,204
i 1, 717
7,608
1, 633, 402
i 543, 838

374
23, 727
i 163, 332
9,997
i 37, 338
2
46,204
i 1, 717
7,608
1, 633, 402
i 559, 533

do
Drachma. __
Pengo
Kronu
Lira
Lat
Litas
Pound
F l o r i n or
guilder.
—do . . Krone
Zloty
do
. . do
Escudo
-_-do . . . . Leu
do
Chervonetz.
..-do
Peseta
do
Krona
._ do
Franc
do
Dinar

4.8665
.0130
.1749
.2680
.0526
.1930
.1000
4. 8665
.4020

2 711,072
8, 312
273,001
1 4,612
i 3, 508

711, 303
8,312
28, 465
602
273, 001
i 4,612
i 3, 508

711. 303
8; 312
28, 465
602
273, 001
4,612
27 3, 508

179,881

179,881

179, 881

6 70, 212
4
5, 790
4
1,500
3 170
4
48, 692

.2680
.1122
1. 0805
.0060
5.1457
. 1930
.2680
.1930
.1930

39, 303
i 78, 598
9,268
i 55,112
147, 019
495, 148
65, 596
i 114,832
18, 426

39,303
i 78, 598
9,268
i 55,112
147, 019
495,148
65, 796
i 114, 832
18,426

45, 370
78, 598
9,268
55,112
147, 019
495,148
65, 796
144,832
18, 426

1,822
4
15,140
1
44
e 17, 810
135, 851
665
6,716
1,055

12

12

Norway.
Poland
Portugal..
_ _Rumania
Russia..
Spain
Sweden
Switzerland
Yugoslavia
Asia:
British North Bor- ...do
neo,
Ceylon __ _ _.
do . _
China 18
Silver
Gold
Cyprus Island
Federated Malay . - d o
States.
India, British
- do . .
Indo-China, Frtoch.. Silver...
Footnotes at end of table.




Straits dollar.
Rupee
Dollar
Pound
Straits dollar.
Rupee
Piaster

682
18, 668
68, 205

682
18, 668
68,638

6

4 205
334
194

86
94
682
19, 495
68,638
20,147

86
94
827

20,147
166

540
23, 727
163, 332
9,997
37, 338
2
46, 204
1,717
7,608
1, 633, 402
559, 533

7,970
4
5,171
6 9, 000

4

6 61
11, 536
1,094, 362
3 346
3 6 283 2, 835, 000
1,224
3, 608, 643
i 1, 200
8, 229, 512
4
1,947
37,797
1,639
367,456
157
34, 042
6 22
1, 360, 600
8,675 68, 570,806
218, 064
5,620, 267

I* 130

6,067

i< 30, 000

4

260, 000
6 66
4
1, 902

.5678
.3650

57
12

(19)

292

4 8665
. 5678
. 3650
(19)

1,799
1,701
11, 400
206, 250
6,523
71, 340
« 89,196

i 128, 204

i 128, 204

292
128, 204

4
4

12,985
162, 036
4
766
211

* 1, 397, 597
18, 851

413, 044
5,193, 264
500, 599
9,841
16, 854, 337
82, 978

308
151
47
844
6,187
1,850
3,027
834
8,060
5,825
14,611
409
3,518
1,115
3,612
41,130
64,036
18

.57
2.00
.81
3.15
37.10
6.65
.64
3.54
20.26
1.71
2.55
13.13
1.54
2.16
39.71
8.73

48,692
6,205
8,662
106
41, 508
1,900
2,340
233
7,833

22.96

317, 700
2,821
1, 404, 053 30, 733
2, 001, 033
6,440
21,144,156
18,172
153, 697 153, 800
22, 603
4, 457, 697
6,120
569,129
4,018
999,185
5, 817, 966 13, 500

16.08
2.56
1.44
3.05
.95
21.91
10.75
36.04
1.36

(15)

861, 796

1,613

318, 942
21, 200

1.28
2.79
2.97

5.84
11.26
242. 55
244. 37
1.05
38.55
29.46

13.83
.07
163. 48
.05
351. 73
.03
619. 51
.21
563. 24
.08
92.41
4.76
104. 45
.46
30.53
.14
376. 68
.01
.21 1, 667.17
87.76
3.45
7.22
5.34
.01
.22
1.69
3.04
.69
.73
6.21
.64
.49
.11
6.01
.18
1.67
.08

8.48
836. 94
57.79
92.84
406. 05
43.67
40.52
110. 02
112. 62
45.68
310. 70
1,163. 56
1.00
197. 21
92. 99
248. 67
438. 36

.19

5 50

.84

2.37
.33
2.19
.05

10.10
.54
1.14
1.70

.40

4.38
.89

5. 5&
6, 89

293

5,479
55, 344
265, 057 489, 500
349
397
6,682 | 3, 919
1,784,844
146,177

14.68
1.34
3.28
5.68
6.57
2.43
1.50

.66
2.21
4.12

Monetary stock of the principal countries of the world, end of calendar year 1929—Continued

Authenticated statistics
Country

Monetary
standard

united
States
Total auequiv- In central thenticated
banks or
alent government
gold
treasuries80 holdings81

Name

Asia—Continued.
Iraq (Mesopotamia) _
_ (20)
Japan, including Gold____
Chosen, Taiwan,
Kwantung.
Netherland East In- ...do
dies.
Palestine« . _
.do
Persia 21 . . .
Silver-_
Philippine Islands
Gold____
Sarawak
do
Siam
do
do
Straits Settlements
do
Syria ._ _
do
Turkey
Africa:
Algeria
.do
Belgian Congo
...do
do
Egynt
Eritrea
Silver
Ethiopia (Abyssinia). ...do
French Equatorial Gold
Africa.
French West Africa
do
do
Gambia
Gold Coast
- do
Kenya and Uganda23. ...do
Madagascar
do
Mauritius u
..do
do
Morocco
Nigeria
_ —do
_




Runee
Yen

Per capita

Gold stock

Monetary unit

$0. 3650
.4985

$542,475

Guilder. _
_

.4020

56,0C7

In
banks

Outside
banks
and government
treasuries 32

Total
gold
stock

56,067 ._

.4424
.5678
3.859

3,011

.0392
.0278
4. 9431

1,633
e $6,. 746

-do

Pound
Thalari
-do
Franc

8,790
1,041
18, 789

8,790
1,041
18, 789

$3.51
6.50

« 164,760

1.06

3.12

6.28

.29

3.24
4.84
1.61

2.22
16.47
8.55
2.32

1715, 680

1.39
7.92

6.23
18.45
1.11

9.58
89.22
3.00

.11

320.17
18.36
1.97

331, 721

52, 825

2.920
4 48; 427
< 19,161

2,000
164. 710
101, 957
2 1, 393
2

900
10,000
11, 922
600

1,633
22, 426

< 71, 701
4
21, 573
* 17 3,136

110, 218
104, 297
" 8, 500

11, 506
1,169
2,832
13, 850

2, 002, 664
183, 632
28, 300

6,255
10, 000
14, 319
450
10, 000
3,130

8,790
1,041
18, 789

702
6 28, 231
6
1, 692
< 20,164

0392

do

do

'

.0392
4.8665
4. 8665
.2433
0392
3.650
.0392
4. 8665

4 20,505
2,580

2,580

19.77

2,849
83, 457

(19)
(19)

Pound

$8.72
2.65

Paper

1, 650, 481

3,441

3,441

1,598

Silver

* $25,000
6 221, 850

4. 3965

Franc

Shilling
Franc
Rupee
Franc
Pound

" $10,000

158, 749

(19)

Gold

$10,000
542, 475

4. 8665
.5000
.5678

Paper cirSilver
stock in culation, in Populamonetary
banks
tion
unit of
and treasissuing
uries
country

56, 067

$542, 475

Pound
Kran
Peso
Straits dollar.
Bahtortical
Dollar
Pound (Syrian).
Lira (pound)

Unauthenticated
or estimates

2,580

1,743
4 3, 010
* 1, 240

800, 000
6 2 606, 099
3
558, 209
202
1,944
28,100
263, 785
14, 653
603,878
202

13, 800
210
2,838
6,147
3,744
373
5,000
18,810

11.46
1.41
.10
1.31

1.97
3.76
2.02

3.33
.52

4.67
.60
.06

80,00
193.64
40.44
.96
.78
4.57
70.45
39.28
120. 77
.01

Nyasaland
-Portuguese East Africa.
Portuguese West Africa.
Reunion Island.
RhodesiaNorthern
Southern.
Sierra Leone
Somaliland—•
British 6

French
Italian 6
Sudan, Anglo-Egyptian.
Tanganyika
Tunis
Union of South Africa
Zanzibar
Oceania:
Australia
" T W Zp.aland
NA
Fiji Islands

Society Islands
New Guinea, BritishTotal

do
.do
do

—do
- do
. _do
—do
- do '
...do
do
—do
-.do
do
- do
do
- .do
do
- do
do
...do

1

Rupee
Franc
Lira

...

Pound
Shilling

Franc
Pound Rupee

Franc
Pound

77, 529

1,360
3,520

51, 208

2,512

20.38

.0392

23 40, 475

174

232.61

80
996
17 50

1,309
1,014
1,700

476
4,410
2,000

345
65
1,000
6,553

21,094
500,000
6,980
2,967

4,748
2,180
7,895
203

27,115
7,340
412
12, 501

6,414
1,486
180
36
201

30.70
21.52
2.39

2.23

.06

.04

1, 940, 829

5.74

2.07

4 8665
1. 0805

Franc
Pound . _
.do
do

Pound
do
do

__

4. 8665
4. 8665
4.8665
. 3650
.0392
0526
4.9431
2433
0392
4. 8665
3650
4.8665
4. 8665
4. 8665
0392
4.8665

6

15

252
438

49

24

64
647

301
6 438

88
647

1, 669

4 916
4 2, 677
4

6 191
18

36, 474

43, 714

401

191

20

20

1,863
4 8, 808
4 3, 592

88, 884
2 31, 978
431

32,160

88, 884 23108. 017
31, 978
431

10, 277, 098

10, 446, 567

75, 874

4 15, 938
374

196.901
31, 978
431

164, 556

461, 247

* 401

13

13

In part held abroad, either reported as earmarked (set aside and not included in
the claimed assets of the holding institution, as opposed to being merely deposited
abroad or representing a receivable balance) or considered to be earmarked by U. S.
Federal Reserve Board experts.
2
Includes some silver.
3
Includes base metal coin.
i
Estimated silver circulation included.
5
Includes some gold.
6
Prior year's figures.
7
United States bank notes.
8
United States Government notes.
8
Exclusive of Canadian bank notes which are the principal circulating media,
30
Panama coin only. In addition to this, there is circulating an unknown amount
of silver.
11
United States currency.
12
Equivalent of old milreis; new valuation at $0.1196+ not yet fully established.
" On Dec. 27.
14
Exclusive of Spanish bank notes and British treasury notes.
» British currency.




4

1 0805

do

Escudo
Angolar

7

11*072,370

4, 039, 914

(25)

. 22

1.23
22.02

.06
.6.3

.69
2.64
.02

06
.98
.03

1.16

1.38
67.85
2.00

2.94
1.86
1.34
.75
9,49

2.02
1.84

4.44
229. 35
.88
14.61
4.23
4.94
2.29
347. 25

is Includes platinum.
1 Estimate.
7
18 Incomplete.
19 Fluctuates with the price of silver.
20
Monetary standard not established.
21 Mar. 21, 1930 (end of Persian year).
22
Sarawak coin and notes; Straits coin and notes also circulate.
23
June 30,1929.
24 May, 1930.
25
Australian notes.
26
In Trinidad dollars.
27
Almost the entire amount held abroad.
28
Paper peso currency legally convertible at 44% of face value.
29
Value of paper currency fixed at 4.567 paper milreis to the gold milreis ($0.1196) for
payment of public dues.
s0
From United States M i n t interrogatories and/or published official sources,
31
Includes, in addition to holdings of central banks anct governments, holdings of
other banks where authenticated.
32
Data known to be incomplete.

O

o
H
I™;

G

w
O

d

o
KJ

148

REPORT OF THE COMPTROLLER OF THE CURRENCY
FEDERAL LAND BANKS

The statement following shows the condition of the 12 Federal
land banks September 30, 1930, compiled from their reports to the
Federal Farm Loan Board.
Consolidated statement September 80, 1980, compiled from reports to the Federal
Farm Loan Board
ASSETS

Gross mortgage loans
$1, 315, 759, 089. 50
Less payments on principal
124, 054, 099. 13
Net mortgage loans
1,191, 704, 990. 37
Less principal of delinquent installments
1,434, 928. 02
United States Government securities
Bonds of other Federal land banks
Other securities
Cash deposits for matured or called bonds
Cash on hand and in banks
Accounts receivable:
Tax advances
Other
._
Notes receivable, etc.:
Notes
Purchase money, first mortgages...
Purchase money, second mortgages.
Real estate sales contracts
Total
Less reserves for purchase money
mortgages and/or contracts
Delinquent installments (principal and
interest):
Less than 30 days
30 to 60 days
60 to 90 days
90 days and over
Total
.
Less partial payments
Less reserves for delinquent installments

__„

900, 619. 91
527, 637. 12

$1, 190, 270, 062. 35
16, 677, 070. 32
8, 093, 611. 26
3, 705, 633. 27
10, 000. 00
9, 676, 435. 90

1, 428, 257. 03

349, 098. 27
6, 145, 409. 98
1, 090, 435. 91
10, 649, 417. 55
18, 234, 361. 71
3, 228, 798. 10
_

i5, 005, 563. 61

1, 021, 833. 11
505, 317. 87
780, 669. 03
3, 048, 751. 42
5, 356, 571. 43
399, 795. 81
3, 299, 514. 69
—

Interest accrued:
Mortgage loans
Other

21, 710, 992. 44
381, 529. 74

Real estate owned:
Owned outright
Real estate subject to optional
sales contract

1, 657, 260. 93

20, 377, 402. 15

Total
Less reserves for real estate
Sheriffs' certificates, judgments, etc.
(subject to redemption):
(a) Foreclosures under first mortgages
(b) Foreclosures under installments
or second mortgages
(c) Banks' mortgages on property
covered by (6)




22, 092, 522. 18

61, 136. 01
20, 438, 538. 16
8, 129, 414. 64
12, 309, 123. 52

5, 631, 096. 22
163, 950. 85
1, 167, 000. 85
6, 962, 047. 92

REPORT OF THE COMPTROLLER OF THE CURRENCY
Spokane participation certificates..
Less reserves for Spokane participation
certificates

149

$2, 799, 850. 18
2, 799, 850. 18

Banking houses
Furniture, fixtures, equipment, etc
Prepaid and deferred expenses
Other assets, __

$2, 638, 099. 65
291, 873. 44
489, 257. 62
651,981. 71

Total

_

1, 291, 958, 800. 71

LIABILITIES

Farm loan bonds (unmatured)
Less held by banks of issue

$1, 180, 990, 480. 00
1, 526, 000. 00

Sold subject to repurchase agreement
Farm loan bonds matured or called
Notes payable, etc
Dividends declared but unpaid
Matured coupons on farm loan bonds
Due borrowers
Accounts payable-..Interest accrued:
Farm loan bonds
.
Other____
_.

1, 179, 464, 480. 00

(3, 077, 500. 00) ,

10, 000. 00
500, 000. 00
572, 930. 72
822, 618. 82
910, 829. 75
843, 480. 93

17, 513, 893. 83
543, 918. 59

18, 057, 812. 42

Advance installment payments (partial, and interest portion
full)
Other liabilities
Spokane participation certificates _.
~ Deferred income
Capital stock:
United States Government _______
$267, 724. 25
Individual subscribers
345. 00
Individual subscribers through
Porto Rico branch
702, 320. 00
National farm loan associations
64, 886, 157. 50
Borrowers through agents
128, 680. 00
Legal reserves
Other reserves
Undivided profits
Total

____
_„-____

1, 733, 138.62
553, 096. 87
2, 799, 850. 18
2, 207, 315. 79

65, 985, 226. 75
13, 281, 233. 67
8, 270. 58
4, 208, 515. 61

___
_.

1, 291, 958, 800. 71

JOINT-STOCK LAND BANKS

The statement following shows the condition of the 49 joint-stock
land banks September 30, 1930, compiled from their reports to the
Federal Farm Loan Board.
Consolidated statement September 80, 1980, compiled from reports to the Federal
Farm Loan Board 1
ASSETS

Gross mortgage loans
$615, 822, 139. 04
Less payments on principal
_.. _ 52, 417, 285. 85
Net mortgage loans
563, 404, 853. 19
Less principal of delinquent installments
657, 600. 69
Less reserves for mortgage loans—foreclosures pending
788, 837. 01
 land banks in receivership are not included in this statement.
1 Joint-stock


$561? 95^ 415. 49

150

BEPOBT OF THE COMPTROLLER OF THE CURRENCY

United States Government securities
Farm loan bonds of other banks
Other securities
Cash deposits for matured or called bonds
Cash on hand and in banks
Accounts receivable:
Tax advances
Other
Total
Less reserves for accounts receivable
Notes receivable, etc.:
Notes
Purchase money, first mortgages
Purchase money, second mortgages
Real estate sales contracts
Total
Less reserves for purchase money mortgages and/or contracts

$3, 522, 056. 02
15, 000. 00
136, 711. 61
1, 500. 00
9, 262, 403. 31
$496, 322. 81
192, 378. 67
688, 701. 48
44, 956. 41
643, 745. 07
258, 596. 13
3, 113, 890. 54
2, 024, 002. 17
6, 305, 911. 11
11, 702, 399. 95
300, 161. 41

Delinquent installments (principal and interest):
Less than 30 days
594, 715. 24
30 to 60 days
280, 449. 59
60 to 90 days
422, 862. 51
90 days and over
1, 672, 419. 28
Total
Less partial payments
Less reserves for delinquent installments

11, 402, 238. 54

2, 970, 446. 62
301, 352. 96
1,051,084. 81
1, 618, 008. 85

Interest accrued:
Mortgage loans
Other

10, 158, 640. 73
55, 920. 52

_'

Real estate owned:
Owned outright
Less mortgages not assumed

10, 214, 561. 25

16, 969, 150. 24
26, 070. 00

Total
Real estate subject to optional sales
contracts

16, 943, 080. 24

Total
Less reserves for real estate

17, 522, 328. 08
885, 765. 57

-

Sheriffs' certificates, judgments, etc. (subject to redemption):
(a) Foreclosures under first mortgages_
(b) Foreclosures under installments or
second mortgages
(c) Banks' mortgages on property
covered by (6)
Total
Less reserve for sheriffs' certificates
Banking house
Furniture, fixtures, equipment, etc
Prepaid and deferred expenses
Other assets
Less reserve for other assets
Total



.

579, 247. 84

16, 636, 562. 51
2, 784, 386. 88
205, 868. 14
1,605,150.33
4, 595, 405. 35
255, 172. 97

346, 192. 83
7, 748. 75

4, 340, 232. 38
20, 000. 00
107, 126. 76
158, 887. 12
338, 444. 08
620, 375, 892. 99

BEPOBT OF THE COMPTROLLER OF THE CURRENCY

151

LIABILITIES

Farm loan bonds (miniatured)..
Less held by banks of issue

$558, 748, 000. 00
6, 595, 500. 00
$ 5 5 2 ) 152, 500. 00

Sold subject to repurchase agreement..
(696, 000. 00)
Farm loan bonds matured or called
Notes payable, etc
Mortgages assumed on real estate owned,
Dividends declared but unpaid
_
Matured coupons on farm loan bonds
„
Due borrowers.-..
„___
Accounts payable. _
_
„
_
.
Interest accrued:
Farm loan bonds
8, 944, 337. 14
Other..
4, 799. 29
.
__
Advance installment payments (partial, and interest portion
full)
Other liabilities
Deferred income
Capital stock paid in
Surplus paid in
.
.
__
Surplus earned
Legal reserves
Other reserves
Undivided profits
_
„
Deficits
__.
Total-.

3, 600. 00
2, 696, 468. 35
24, 318. 86
73, 310. 89
965, 302. 21
234, 514. 34
148, 112. 19

s, 949, 136. 43
568, 352. 15
41, 065. 52
1, 996, 044. 61
41, 743, 060. 24
1, 575, 059. 00
2, 719, 186. 06
5, 540, 199. 67
739, 954. 55
2, 884, 470. 86
2, 678, 762. 94
620, 375, 892. 99

FEDERAL INTERMEDIATE CREDIT BANKS

The statement following shows the condition of the 12 Federal
intermediate credit banks September 30, 1930, compiled from their
reports to the Federal Farm Loan Board.
Consolidated statement September 30, 1980, compiled from reports to the Federal
Farm Loan Board
ASSETS

Loans and discounts:
Cooperative associations
.
$57, 645, 011. 05
Financing institutions
65, 690, 947. 60
United States Government securities
_
5, 350, 744. 24
Debentures of other Federal intermediate credit banks
2, 360, 000. 00
Cash deposits for matured debentures
150, 000. 00
Cash on hand and in banks. __
$5, 752, 408. 63
Less cash held as collateral
111, 914. 85
5, 640, 493. 78
Notes receivable
6, 680. 00
Accounts receivable
23. 106. 93
Interest accrued:
Loans and discounts
647, 470. 74
Other
61, 793. 36
709, 264. 10
Furniture, fixtures, equipment, etc
10, 911. 57
Prepaid and deferred expenses
19, 966. 84
Other assets
126, 872. 96
Capital stock subscription callable from U. S. Treasury
30, 000, 000. 00
Total
22439°—31



---11

_-_ 167, 733, 999. 07

152

REPORT OF THE COMPTROLLER OF THE CURRENCY
LIABILITIES

Debentures (unmatured)
Less held by banks of issue

$102, 850, 000. 00
400, 000. 00

Debentures matured
Rediscounts with banks other than Federal intermediate credit
banks
Accounts payable
Deferred proceeds, loans and discounts
Interest collected, not earned
Matured interest on debentures
Interest accrued:
Debentures
-.__
Other liabilities
Capital stock:
Paid in
30,000,000.00
Callable from U. S. Treasury
30, 000, 000. 00

$102, 450, 000. 00
150, 000. 00
365, 200. 00
14, 961. 33
15, 427. 01
464, 078. 30
196, 638. 18
915, 915. 98
69, 339. 12

60, 000, 000. 00
Surplus (earned)
1, 971, 938. 61
Reserves for estimated losses and contingencies
1, 506, 569. 74
Undivided profits
306, 960. 49
Deficit (Columbia)
——— ———
698, 029. 69
Total

.

167, 733, 999. 07

NATIONAL AGRICULTURAL CREDIT CORPORATIONS

Under the provisions of the act of March 4, 1923, United States
Revised Statutes, national agricultural credit corporations may be
formed for the purpose of providing credit facilities for the agricultural and livestock industries of the United States. The Pacific
National Agricultural Credit Corporation of Fresno, Calif., is the only
such corporation now in existence. It is authorized to transact
business within the States of California, Arizona, Nevada, Oregon,
Utah, Idaho, and New Mexico.
A statement of the resources and liabilities of the Pacific National
Agricultural Credit Corporation of Fresno, Calif., as of the close of
business on September 24, 1930, appears below.
RESOURCES

Cash on hand and in banks
United States bonds
.
Loans— —
Furniture and
fixtures
Accounts receivable
Other assets
Customers funds held in trust
Total

...

$16, 177. 07
260,398. 23
——
_.._ 3,071,245. 13
.._
..
2, 386. 34
_.„_
1, 815. 26
._._.
8,699. 24
.._.
———
50, 079. 28
_.

„

.

...„

- — . . 3, 410, 800. 55

LIABILITIES

Capital stock
.
Surplus
Undivided profits
Discounts
Reserve for taxes
Other liabilities
Undistributed trustee funds
Total

.




.
-

500,000.00
95,000.00
431. 04
2,755,930. 88
3, 887. 55
5,471. 80
50,079. 28
3, 410, 800. 55

REPORT OF THE COMPTROLLER. OF THE CURRENCY

153

UNITED STATES POSTAL SAVINGS SYSTEM

The tables following, compiled by the Third Assistant Postmaster
General, under whose supervision the system operates^ disclose comparative statements of the resources and liabilities of the Postal
Savings System for the years ended June 30? 1929 and 1930, together
with a summary of the postal savings business for the fiscal year
ended June 30, 1930, by States. (The total number of depositors on
June 30, 1930, was 466,401, an increase of 49,817 in the year, and the
average amount of deposit per depositor was $375.80, compared to
$368.82 a year ago.)




Comparative balance sheet for June 80, 1980, and June 80, 1929
June 30, 1930

Items

Working cash:
Depository banks.
Postmasters

$147,878,328.50
736,147.39
• $148,614,475.89

Special funds:
Treasurer of the United StatesReserve fund
Miscellaneous (working) funds

7,691,493.45
1,574,819.10

Accounts receivable:
Accrued interest on bond investments
Due from discontinued depository banks..
Due from late postmasters
Investments, carried at cost price:
United States bonds—
Postal savings 2H's
Fourth Liberty 4H's

9,266,312. 55

295,650.26
"~47,~586.~36

-

Par value
$11,839,320.00
16,676,750.00

11,839,320.00
14,516,329.13

28,516,070.00

343,230.56

26,355,649.13

June 30, 1929

Increase

Decrease

$127,491, 263.27
$20,387,065. 23
345,487.01
390,660. 38
• $127,836, 750.28 20,777,725.61
7,459,986.92
1,449,971.26
287,004.01
15.22
40,496.00

11,147,620.00
14,516,329.13

184,579,668.13

8,909,958.18

3

231,506.53
124,847. 84
356,354.37
8,646. 25

327,515- 23

$15.22

7,C84.30
15,715.33

O

o
g

691, 700.00
25,663,949.13

I

6917766766"!

162, 738,172. S2

21,841,495.31

158,055,538.55

21, 627,157.00
222,369.34
158.80
21,849,685.14

LIABILITIES AND SURPLUS FUNDS

Due depositors:
Outstanding principal, represented b y certificates of depositAccrued interest on certificates of deposit
Outstanding savings stamps
Accounts payable:
Due Postal Service—interest and profits..
Due discontinued depository banks
Total liabilities
Surplus funds: Interest and profits (undistributed earnings) subject to future
allocation of maturing interest charges
_
_




75,271,686.00
4,575,940. 39
57,597.30
4,438,901.84
1,027.48

179, 905, 223.69

153,644, 529.00
4,353,571.05
57,438. 50
4,446,745.44

O

W
7,843. 60

4,439,929.32

4,446, 745.44

184, 345,153. 01

162,502,283.99

234,515.12

235,888.83

184,579,668.13

162,738,172.82

1,027.48

6,816.12

o

21,842,869.02
1,373.71
21,841,495.31

o
K!

Comparative statement of interest-earning resources and interest-bearing liabilities for June 30, 1930, and June 30, 1929
Items

J u n e 30, 1930

Increase

J u n e 30, 1929

Decrease

RESOURCES—INTEREST-EARNING

Working cash: Depository banks, per balance sheet
Investments, carried at cost price, per balance sheet

$147,878,328.50
26, 355,649.13
• $174, 233,977.63

$127, 491, 263. 27
25,663,949.13
• $153,155, 212. 40

$20,387,065.23
691,700.00
21,078,765.23

..... —
.„.„

Tj
C

H
O

LIABILITIES—INTEREST-BEARING

Due depositors: Outstanding principal, represented by certificates of deposit,
per balance sheet

153,644,529.00 j 21,627,157.00

175, 271,686.00

Excess of interest-bearing liabilities

489,316.60 |

1,037,708.37

548,391.77

•

w

Comparative statement of interest and profits for the fiscal years ended June 30, 1930, and June 30, 1929

Items

Fiscal year 1930

Fiscal year 1929

Increase

Decrease

o
o
g
H
O

Credits:
Interest on bank deposits.
Interest on bond investments
Miscellaneous receipts
Profit realized on sale of investments.
Final adjustment—previous year
Debits:
Interest credited to depositors
Allowances to postmastersLosses byfire,burglary, etc
Erroneous payments, uncollectible items, etc..
Miscellaneous losses
Final adjustment—previous year

$3,457, 277.68
997,677.76
45.31

$3,192,466. 59
988,148. 26
264.63
1,473,593.77

$264,811.09
9, 529.50
$219.~32
1, 473,593.77




O

1,373.71

1,373.71
$5,654,473.25 I

$4, 456,374. 46

1 " 198," 098." 79
,

2,893,395.00

2,765,008.10

822.62
50.00

-252. 40
3,545. 00
193. 34
9,184. 21

^

M

128, 386. 90
1, 075.02

3,"495."66
193.34
9,184. 21

2,894,267. 62

Excess of income.

W

2, 777, 678. 25

1, 562,106.84

2,876, 795.00

9
3
g

116, 589.37
1,314,688.16

^

Sumfnary of postal savings bnsi?iess for the fiscal year ended June SO, 1980, by States

State

Balance t o
the credit of
depositors
June 30,1929

Deposits l

$153,644, 529 $163, 548,458

United S t a t e s -

-

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
___
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
—
—
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana.........
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota—___.
Ohio
Oklahoma
Oregon
Pennsylvania
Porto Rico




-

Balance to
Withdrawals1 the credit of
depositors
June 30, 1930

Increase in
balances to
the credit of
depositors2

$141,921, 301 $175, 271, 686

$21, 627,157

Sold

Redeemed

Amount at
interest in
banks
June 30,1930

$26,104.90 $25,946.00 $148, 255, 213. 01 $3,457, 277. 68 $2, 671,025.66

; ' — • •

328,448
687, 672
1, 370,689
674,031
3,113, 574
3,850,337
1,118,160
99,202
368,561
7,899,229
1,996,635
19,979
2,613,850
6,582,946
1,509,907
8,249,346
3,563,791
234,861
362,673
112,387
117,427
6,190, 599
2,095, 622
8,241, 537
109, 595
5,265,426
6,181,292
1,343, 703
390,695
299,691
2,102,766
1,538,403
28,093,883
542,402
2,156,277
2,972,358
5,606,876
3,802,736
8, 513.663
141, 517

1,130,995
434,489
1,634,885
1,017,634
3,596,464
3,402,410

1,030,129
99,527
427,952
23, 793, 351
3,119,983
40,071
2,494,571
8,432,946
1,630,939
7,042, 491
3,481,713
449,050
134,193
3,808,346
2,166,809
7,210,955
117,382
5,050,916
4,848,221
3, 622, 647
480,747
229,844
2, 580, 357
1, 518,958
22,959,425
1,152, 285
2,057,072
2,742,196
6,184,059
4,042,149
6,441,703
196,029

526, 561
472,610
1,472,359
708,422
3,297,317
3,371, 587
907,037
93,570
387,997
15,203,289
2,299,483
35,401
2,466,958
5, 547, 574
1, 237,252
6,891,637
3,122,741
229,036
70,537
112,669
4,105,793
1,779,37ti
6, 564,024
4,439, 023
5,254,979
1,714, 267
459,749
179,280
2,421,537
1,388, 529
24, 553,070
613,973
1,761,202
2,260,655
5,309,390
3,586,263
6,366,161
199,643

932,882
649, 551
1, 533,215
983,243
3,412,721
3,881,160
1,241,252
105,159
408, 516
16,489,291
2,817,135
24,649
2, 641,463
9,468, 318
1,903, 594
8,400,200
3,922,763
266,473
472,743
109,918
138,951
5,891,152
2,483,055

604,434
-38,121
162,526
309,212
299,147
30,823
123,092
5,957
39,955
8, 590,062
820, 500
4,670
27,613
2,885,372

150,854
358,972
31,612
110,070
-2,469
21,524
-299,447
387,433
646,931
138,353
28,758
5,877,319
611,893
5,774, 534
-406,758
3,252,093
1,908,390
411,693
20,998
350,255
50, 564
2,281, 586
158,820
1,668,832
130,429
26, 500, 238 -1, 593, 645
1,080,714
538, 312
2,452,147
295,870
3,453,899
481,541
£,481,545
4,258,622
455,886
8,589,205
75,542
-3,614
137,903

Or
O

Amount
of deposInterest received from Interest paid its surdepositors rendered
banks
for bonds

10.70

7.00

32.50
18.60
358.10

35.00
21.00
322.00
13a 00
445.00
7.00
192.00
516. C
C

127.40
383.00

6.30
210.90
626.00
84.50

89.00
4.00
43.00

49.20
599.40
568.00
87.40
77.00
51.20
46.00
155.70
103.00
26.10
29.00
39.50
39.00
18.90
15.00
8.30
8.00
580.10
648.00
98.00
93.00
271.10
231.00
10.80
13.00
130.10
148.00
46.30
45.00
81.30
60.00
14.40
6.00
103.70
111. 00
1,195.70 1,158.00
23.10
22.00
4,544.60 4,723.00
17.30
13.00
127.70
105.00
289.00
308.40
71.00
115.10
207.00
187.30
1,341.10 1,387.00
13,185.30 13,095.00

722, 297. 29
505,804.24
1,283,492.76
2, 518,815.44
3, 322, 556.43
1,032, 231.39
76, 510.21
351, 803.85
16,081,873.17
2, 543,971. 56
24, 702.86
2, 239,415.39
7,948,714.05
1, 684, 239. 52
7,861,212.48
3, 587, 203.02
202,193.78
404, 640.64
91, 334.90
104? 446, 22
4,191,141. 51
1.951,790.40
8, 522,644.95
124, 359. 26
5, 360,810. 91
5.475,420.41
2,802,434.88
330,229.49
301,687.56
1, 667, 686.43
1,274,074.08
18,922,106.37
950,578.43
2,248,648.86
2,808,010.70
5,990,570.82
3,693,193.10
6,612,032.78
120,317.61

11, 594. 58
13.273.72
28,816.31
20.183.73
61,773.81
80,591.76
22,243.18
1,808.07
8,250.00
305,761.76
57,269.12
626.10
55,884.72
153,163. 39
36, 722. 32
198, 372.33
85,941.21
4,698.79
8,455.84
2,380.76
2,560.30
109,112.94
40,246.39
210, 501.18
2,753.62
124,165.73
144,191.99
47,123.65
8,159.75
6, 218. 21
43,994.03
29, 539.60
488,001.93
17,043.70
56,270.83
62,549.27
141,495.38
90,372.94
165,008.26
3,196.13

— 2

$2, 337, 540
= =
3,100
12,600
20,094.72
25,000
10,850.46
33,200
56,930.16

5,882. 66
11,785.13

64,548.02
24,227.39
1,961.93
6,473.63
99,728.45
27,967.56
284.77
42,964.18
122, 547.38
21,934.77
133,860.44
55,060.36
4,070.02
7,116.33
1,810.75
2,053.77 .
115,506.87
41, 582.88
127,329.90
1,758.13
87,150.47
108,686.62
17,733.21
7,035.83
6,247.92

46,791. 62
22,551. 25
579,077.58
6, 714.71
30,002.71
56,114.64
80,530.84
60,812.84
163, 614.06
1,967.04

w

51,800

W
t-3
O
^
j

g

46,620

g

""7,"iS

§

149,720
23,260

S
(g

"l3,"566

S

87,980
103,780
197,300
174,440
200

5
y
M
M
W

=s
9,520
16,020
249,800
2,500
95,800
78,960
120,300
5,000
1,000
100
20,000
27,500
16, 720
21,120
119,220
90,360
144,060
56,940

w

a

Rhode Island.—
»._„_.
South Carolina
South Dakota
Tennessee
_-._..„..__—
Texas
Utah
_ Vermont
—
Virginia
_..„...„...Virgin Islands
___„
Washington.
„_.,._
West Virginia......
_.
Wisconsin
Wyoming. „-..-_-.-.._„

422, 585
1, 527, 315
4,401,492
606,956
4,228,276
615,969
54,242
254, 356
22, 751
6,846,965
857,874
1,447, 446
1,895, 556

305,927
2,124, 515
3,998,800
575,074
5,002, 391
461,593
26,624
703,944
26,187
5,136,466
1,090,973
1, 238,919
1,728,436

338,417
1, 523,164
3,779, 630
528,929
4,077,431
487, 547
34,491
384, 215
21, 680
5,404,058
6437 969
1,129, 252
1,731,973

390,095
2,128, 666
4, 620, 662
655,101
5,153, 236
590, 015
46, 375
574, 085
27, 258
6, 579, 373
1, 301, 878
1, 557,113
1,890,019

-32,490
601, 351
219,170
48,145
924,960
-25,954
-7,867
319,729
4,507
-267, 592
447, 004
109, 667
- 5 , 537

193.20
45.40
86.60
32.70
130.00
3.80
8.10
S3.80
7.10
104.80
57.30
92.10
34.90 1

* These totals include the amount of $3,589,387, transferred between depository offices,




221.00
46.00
86.00
30.00
115.00
6.00
10.00
39.00
7.00
100.00
42.00
91.00
32,00

281, 598. 51
1,885, 516.41
4,073,131.44
568, 223. 28
4, 447, 386. 23
422, 511.12
42,008. 65
513, 564. 74
5, 254,728, 66
1,167, 579. 57
1, 328,856.41
1,386,004.15
1

7, 318.38
39, 301. 59
98,307. 56
13,973.08
97,316.55
11,173.98
1,114.83
11, 247.17
135, 353. 72
24,977. 50
31, 706. 24
35,169.77

9,839. 63
23,039.11
69, 619. 60
8, 967.15
63,622. 56
11, 509.46
881.30
4,007.12
110.85
125,442.92
10,837.74
28,140.03
31,646,19

5,040
36, 260
48,400
11,160
78,400
3,960
5,000
16,120
59,700
7,100
30,960
29,700

H

A. minus sign (—) denotes decrease.

w
&
o
o

E
13

Q

Or

158

REPORT OF THE COMPTROLLER OF THE CURRENCY
SCHOOL SAVINGS BANKING

Statistics relative to school savings banks in the various States and
the District of Columbia for the school years ended 1929 and 1930,
with comparative yearly totals beginning with the school year ended
1920, are shown in the following table:
School savings, hy States, 1928-29 and 1929-80
[Compiled by the Savings Bank Division of the American Bankers Association]
Number of
schools

Number participating

Deposits

Net savings

States
!1928-29 1929-30

1928-29

1929-30

1928-29

1929-30

1928-29

1929-30

United States. 14,254^ 14, 610J4 4,222,935 4, 597,731 $28,672,496.00 $29,113,063.48 $10,539,928.46 $7,690,529.68
Alabama
73
Arizona
30
Arkansas
7
California
2,463
28
Colorado
705
Connecticut
63
Delaware
District of Co50
lumbia
35
Florida
98
Georgia
36
Hawaii
.
11
Idaho
513
Illinois
287
Indiana
203
Iowa__
78
Kansas.....
55
Kentucky.
16
Louisiana
374
Maine
120
Maryland
Massachusetts. _ 1,130
452
Michigan
545
Minnesota
8
Mississippi
141
Missouri
8
Montana
51
Nebraska
2
Nevada
___
91
New Hampshire.
747
New Jersey
New Mexico
New York
70
N o r t h Carolina .
N o r t h Dakota
816
Ohio—.
69
Oklahoma
121
Oregon..
P e n n s y l v a n i a . . . 2,054
328
Rhode I s l a n d . . .
57
South Dakota.._
69
Tennessee
125
Texas
18
Utah..
31
Vermont
89
Virginia
_..
262
Washington
92
West Virginia—
317
Wisconsin
1
Wyoming

73
26
7
2,488
3
530
58

37, 726
11,056
2,124
382, 460
578
126,896
31,694

49
29
104
97
36
521
273
513
79
60
16
338
106
1,224
465
430
2
203

5,538
17,335
53,534

50
2
97
811
10
1,464H
66
16
728
65
137
1,876
344
56
36
188
37
29
85
312
145
324
2




138,979
81, 204
66,991
34,905
9,433
1,319
30,075
60, 531
217, 337
148,125
155, 275
2,491
8,474
3,264
28, 083
104
5,588
228,855
878,400
28,861
321, 529
24,063
67,117
550,002
106, 886
12,181
31,925
38,461
8,350
4,213
34,024
123,080
19, 587
83,788
395

39,129
190,095.07
178,050. 87
62, 610.14
59, 274.18
12, 265
9, 756. 37
8,976. 62
2,129
416,990 1,761,277. 56 1, 278,268. 20
1, 434. 57
13, 206. 60
590
123,601 1,032,170.94 1,034,138. 38
216,404. 50
216,645.33
33,755

86,018. 47
41,443. 63
474. 31
976,632.11
+7,223. 63
472,308. 25 253,993. 58
10, 583.16
13,466.78

44, 709.02
5,978
50, 409.30
50,409.30
44,709. 02
80,452.19
64,472. 42
8,130
11,370. 71
1,405.32
185,962. 36
187,905. 98
57,835
39,352. 48 31,609. 64
11, 768. 80
24,906. 28
2,059
11, 768. 80 24,789.14
5,365. 89
34,668. 26
8,126
5, 365. 89 21, 388. 29
147,109 1,977,470.94 1,282,845. 08
935,817. 78 111, 765. 76
704,824. 74
660,382. 81
99,322
172,320. 00 66,767.46
444, 227. 80
62,973
418, 248. 42
72, 508. 51 51, 202. 21
38,916
222,404. 52
205,851. 60
52,957. 82 22, 676. 70
12,187.15
10, 695
57, 793. 91
54, 675. 37
5,169. 38
14,451.16
5,733.07
1,686
14,485. 52
2,974. 26
150,014. 00
92,977. 06 89,070. 60
38,627
173,269.19
299,144. 56
169, 472. 84 31, 054. 83
46,148
367,659. 40
809,034. 92 585,993. 73
250,047 1,479,423. 54 1,440, 521.33
959,243. 44
244, 513.44 108, 576. 59
149,642
895,754. 00
699,360. 75
324,232. 23 209,773.85
159,547
773,288. 28
11, 593. 82
3,617. 37
905
11,044.13
1,333. 59
379, 504.11
75, 410. 77 216,982.02
42,996
536,097. 30
29,655.18
29,655.18
209,614.27
40, 638
249,788. 00
41,177. 81 53,000. 00
496. 54'
300
355. 78
168. 77
13.73
27,465.55
8,018
41,948. 45
17,387. 23 17, 526. 56
270, 576 2, 094,937. 23 2,159,443. 08 693,070.09 382,901. 30
2,947
16, 532. 21
12, 259. 26
970,226 47841^6*65719 5,217,804. 25 2,~9l776ll.~85 , 836,149. 48
95,383. 77
88,904. 78
13,719
33,963.50
10,953. 28
1, 913. 9"
633
1,229.84
290,595 1,997,634. 52 1,937, 729. 50 502,324. 61 209,926. 44
121,062. 02 225, 917. 49 107,415.82 227,020. 57
16,302
359, 708. 21 404, 359. 23
57,639
99,907. 06 95,297.13
738,186 4,313,716.43 4,832, 618. 56 817,034.11 640,677.02
995, 271.11 1, 031, 258. 98
111, 762
75, 061. 99
1, 774.08
108,185. 76 113,816. 95
11, 348
37,838. 90 27,020. 02
194,450. 76 160,129.21
21,188
26,032.14
9,321. 93
260,451.07
367,199.64
76,482
159,629. 77 166,866. 89
29,644.87
43,893. 53
12,008
12,100. 94 12,868. 77
900,959.94
7,880. 21
4,407
8,692.04
4,422. 52
210,231. 42 221, 632. 09 137,493.33
31,818
20, 751. 87
909,833. 70 1,119, 372. 66 109, 551. 03 194,267. 52
130,661
110,485.72
29,484
162,087. 26
22, 581.17
28,729.60
731,204. 65 738, 247.09
81,097
125, 562. 64 63,855.73
1,000.00
2,120.10
800.00
2,120.10

REPORT OF THE COMPTROLLER OF THE CURRENCY

159

School savings—Continued
TOTALS, U N I T E D STATES
Number
of schools
1929-30
1928-29
1927-28 .
1926-27
1925-26
1924-25
1923-24
1922-23
1921-22 . .
1920-21..
1919-20

_
_„
„._
.

.

.....

14,610^
14,254^
13,835
12,678
11,371
10,163
9,080
6,868
4,785
3,316
2,736

Number
participating

Deposits

4,597,731 $29,113,063. 48
4,222,935 28,672,496.00
3,980,237 26, 005,138. 04
Z, 742, 551 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

$7,690,529.68
10,539,928. 46
9,476,391.32
9,464,178. 93
8,770,731.05
7,779,992.55
8,556,991.27

SAVINGS BANKS IN PRINCIPAL COUNTRIES OF THE 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 of the world, on specified dates, supplemented
by information obtained from reports received in the currency bureau
from other sources, are shown in the following statement.




Savings banks, including postal-savings banks, and amount of deposits, by specified countries
Country
Argentina
..
Australia
Austria
Belgium..
Bulgaria
Canada
Chile
China
CzechoslovakiaDanzig
Denmark
Egypt...
Estonia
Finland
France
Germany..
Greece
Hungary
India
Italy
Japan

Population *

Date of report

Form of savings bank

10,850,000 Dec. 31,1929 Postal savings
6,337,000 Mar. 31,1930 Commonwealth bank, and State and Commonwealth savings bank
("Postal savings banks
6,671,000 Aug. 31,1930 \Other savings banks
do7,996,000
General savings banks
5,713,000
do_
Post-office savings banks
_
_
9,658,000 July 31,1930 Chartered, Government and postal
_
4,340,473 Dec. 31,1929 National Savings Bank and the Savings Bank of Public Employees..
442,000,000 Dec. 31,1927 Post-office savings bank
_
14,439,000 May 30,1930 Savings banks
_
Dec. 30,1928
do
_..,
3,500, 000 Sept. 30,1930
-do..
14,213, 000 July 31,1930 Banks and postal-savings banks
1,1928 Governmental
1,115, 000 Dec.
_
3,582,000 Sept. 30,1930 Post office and savings banks, cooperative societies40,920,000 Aug. 31,1930 National savings banks
63,751,000 Sept. 30,1930
6,205,000 Apr. 30,1930 Post-office savings banks..
Sept. 30,1930 j
do..
.
318,942,000 Mar. 31,1929 j . . . . d o
Postal savings banks
41,799,000 Aug. 31,1930 (Other savings banks
Postal Savings
83,457,000 /July 31,1930 Savings banks System\Aug. 31,1930
Postal savings banks
7,731,000
do
.Other savings banks
1,466,000 .....do
Postal and private
2,811,000 Sept. 30,1930
6,075,000 May 30,1930 National Savings Bank, savings banks, and savings departments of commercial banks..
_
30,213,000 Sept. 30,1930 Postal-savings banks
9,939,000 Mar. 31,1927 Treasury savings banks
7,778,000 Sept. 30,1930 Post-office savings banks
6,105,000
Postal and savings banks
do_
4,018,000
do_
Cantonal banks
45,625,000
..do.
Savings banks, post-office and trustee savings banks
1,207,249,473
125,136,000 June 30,1930 /Postal Savings System..
\Mutual and stock
11,325,000 .....do..
Postal
1,343, 710,473

Deposits
$41,091,600
£213,300,000
$14,241,000
$129,656,000
$188,842,000
$5,720,056
$1,427,000,000
P29,293,190
2 $6,769,427
3 1,873,960
$546,208,800
$7,797,000
$570,036,000
£E4,200,000
$16,523,700
$112,625,000
$539,526,000
$2,403,372,000
$5,942,300
$12,250,000
«344,908,000
$632,944,000
$736,216,000
"2,301,558,879
*1,512,219,000
$142,710,000
$111,354,000
£56,800,000
$484,276,000
$9,042,000
$250, 544,000
7 2,266,643
$32,604,550
$174,880,000
$367,472,000
$1,997,211,600

Netherlands
New Zealand
Norway
Peru
Poland.
Siam 6
South Africa
I.I
Sweden....
SwitzerlandUnited Kingdom
Foreign countries, total
$175,272,000
United States and possessions
$10,357,161,000
$4,121,000
Philippines
Grand total
«Yen.
1 Figures taken from 1929 Commerce Yearbook, Vol. II.
e Statistical Year Book of the Kingdom of Siam (1926-27), p. 125.
2 Yuan:"Big dollar" accounts.
* Ticals.
8 Small coin accounts.
*Kupees.
NOTE.—Source: Data on European countries taken from the League of Nations Monthly Bulletin of Statistics; that for Australia, Egypt, and New Zealand from same bulletin
for September, 1930.




o
o

3
o

w
d

Q
Kj

REPORT OF THE COMPTROLLER OF THE CURRENCY

161

RESOURCES OF LEADING FOREIGN BANKS OF ISSUE

The total resources of 41 foreign banks of issue converted at the
existing rate of exchange on or about June 30,1930, were $18,694,241,000, in comparison with resources of $17,946,814,000 reported by the
same foreign banks on or about June 30, 1929.
The statement below, prepared by the Federal Reserve Board,
shows, with reference to the 41 banks of issue, the country of each
bank, the date of the bank's statement, and its total assets in local
currency and in dollars at the current rate of exchange.
Total assets of principal banks of issue about June 80, 1980
[In thousands of local currency and of dollars]

Country

Date

Albania
_
June 30
.__do
Australia
do
Austria
__„..__
Belgium-...
June 19
Bolivia
__—..__. June 30
Brazil
_
.do—.-do.
Bulgaria
„.__
Chile
...do—
Colombia
__ .do.
Czechoslovakia
...do....
Danzig
____ .doDenmark
_____
do..
Ecuador
...do
Egypt
...do
England>
June 25
Estonia
_
June 30
Finland
do.
France
_
.___ June 27
Germany
June 30
Greece
do.
Guatemala
..do..
Hungary
..do..
Italy..
_
.do..
Japan..
_.._
._ June 28
do
Java..
Latvia
_. June 25
Lithuania
June 30
Mexico
„
___| do
Netherlands....
_
|_..do.
Norway..
_.L._do—_ Peru
|.__do.
Poland.
.do..
Portugal
. . June 25
Rumania
„ June 28
Russia
. — . July 1
South Africa
. . . June 27
Spain
June 28
Sweden
..
June 30
Switzerland
...do..-,
Uruguay
. — . ...do.....
Yugoslavia...
__.„_ ...do.

Local currency

Franc
Pound...
Schilling.
Boliviano.
Milreis....

Lev_.
Peso

,

do
Crown
Gulden.
Kroner
Sucre
Egyptian pound.,
Pound
Kroon
Markka
Franc
Reichsinark
..
Drachma
Quetzal
...
Pengo—
.Lira
....
Yen ..____„
Florin.._
Lat
__._
Lita.........
Peso._._..._
Florin
Krone.—....
Sol.
Zloty.
Escudo.-..Leu...
Chervonetz..
Pound......
Peseta......
Krona.
Franc
Peso..
Dinar

Rate of
Total assets 1
Total
of the bank exchange assets i of
of issue in into dollars the bank of
local curon given
issue in
rency
date
dollars
83,842
83,855
1,399, 501
3,158,324
88,315
3,981, 320
7,374,836
603,554
52, 278
8,369,178
49,136
479,907
52,043
55, 595
497,868
63,896
2,686, 635
90,104,016
6, 061,821
8, 415, 722
11, 769
609, 339
21,578, 760
2,143, 623
363, 944
253, 641
221, 452
162, 767
919, 797
476, 737
77, 052
1,991, 318
4,182, 480
' 30, 501,159
669, 339
17, 670
5, 769, 540
885, 791
1,123, 597
210, 391
9, 046, 042

Total..
* In the compilation of total assets certain contra accounts have been omitted,
2
Par of exchange, as no quotation for date given is available.




2 0.19295
4. 562618
.140948
.139473
.360000
.112462
. 007208
. 120938
. 966400
. 029661
2
.194661
.267630
.200000
4. 983817
4.860156
2.267990
.025174
. 039272
. 238307
. 012955
2 1.000000
. 174813
. 052381
. 494265
. 402300
2 .192948
2 .100000
.473512
. 401921
. 267745
. 385000
. 112005
. 044958
. 005949
5.150000
4. 848161
. 120453
. 268615
. 193770
. 857125
. 017664

1,613
382,598
197,257
440,50i
31,793
447,747
53,158
72,993
50, 501
248,238
9,565
128,438
10,409
277, 075
2,419. 716
17,123
67,633
3, 538, 565
1,444, 574
109, 026
11, 769
106, 520
1,130, 317
1, 059, 518
146, 415
48, 940
22,145
77, 072
369, 686
127, 644
29, 665
188, 036
181,451
3, 447, 096
85, 667
694, 958
237, 937
217, 719
180, 331
159, 789
18,694,241

162

REPORT OF THE COMPTROLLER OF THE CURRENCY

EXPENSES OF THE 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, 1930, it will be noted that the aggregate expenses
were $6,164,433.84, of which $1,174,600.95 was paid from appropriations and $4,989,832.89 reimbursements by the banks. The
salary rolls aggregated $616,642.35, of which $274,362.59 was paid
from appropriations and the remainder from funds reimbursed by the
banks.
Taxes paid by national banks on circulating notes issued amounted
to $3,248,327.85. Deducting from this amount the expenses of the
bureau paid from congressional appropriations, $1,174,600.95, leaves
the net income to the Government on account of the tax on circulation
at $2,073,726.90.
Expenses incident to maintenance of Currency Bureau and net income derived by
Government from taxes on national-bank notes, fiscal year ended June 80, 1930
Expenses
Expenses repaid from ap- imbursed by
propriation
banks
Salaries:
Regular roll, including retirement deductions and temporary force
National currency reimbursable roll, including retirement
and temporary force
Federal reserve issue and redemption division, including
retirement deductions and temporary force
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 n o t e s 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

$274,362. 59
$65, 778. 23
83,737.81
192,763.72
$616,642. S5
25,710.18
11,086.51

4,597.38
89.40

6, 726. 50

2, 625.48

745.04
51, 580. 49
131,162.30
724,807.83

10, 566. 00
295,978.09
185,113.45
1,339,529.52
2,553,703.97
86,358.57
66,794.84
28,980.49
73, 215.94

1,174,600.95

4,989,832.89

2,687,157.19
2,553,703.97
86,358.57
66,794.84
28,980.49
73,215.94

6,164,433.84

Tax paid by national banks on circulating notes
$3, 248, 327. 85
Total expenses of Currency Bureau paid from congressional appropriations
„
1, 174, 600. 95
Net income to Government from taxes on circulation

2, 073, 726. 90

Respectfully submitted.
JOHN W. POLE,

Comptroller of the Currency.
To the SPEAKER OF THE HOUSE OF REPRESENTATIVES.






APPENDIX

163

DIGEST OF DECISIONS BELATING TO NATIONAL BANKS
T H E FOLLOWING CASES WERE REPORTED IN VOLUMES 279, 280;
AND 281 U. S., VOLUMES 34 TO 42 FEDERAL REPORTER, SECOND
SERIES; TOGETHER WITH ONE CASE EACH FROM VOLUMES 120 ATL.
REP., 99 N. E. R E P . , 105 N. E. R E P . , 171 N. E. REP. ? 223 N. W. R E P . ,
265 PAC. R E P . , 272 PAC. R E P . , 275 PAC. R E P . , 283 PAC.-KEP., 146
S. E. R E P . , 153 S. E. R E P . , 127 SOUTH. R E P . , 269 S. W. R E P . , 22
S. W. R E P . (2D SERIES), AND 30 S. W. R E P . (2D SERIES); AND TWO
CASES EACH FROM VOLUMES 281 PAC. R E P . , AND 289 PAC. R E P .
IN ADDITION TO THE CASES REFERRED TO THERE HAVE BEEN
ADDED REFERENCES TO A NUMBER OF DECISIONS OF STATE COURTS
DURING THE PAST YEAR, WHICH WERE FURNISHED THIS OFFICE BY
M R . THOMAS B. PATON, THE GENERAL COUNSEL FOR THE AMERICAN
BANKERS ASSOCIATION.

AFFILIATED CORPORATION
CROSS REFERENCES:

TAXATION—

Page

TAXATION OF AFFILIATED CORPORATIONS

__.

222

CHECKS
Povjer of Federal reserve bank to charge checks to account of drawee bank not revoked
by drawee's insolvency.
(U. S. Sup. 1930.) A circular of a Federal reserve bank, authorized by law,
provided that when checks were received by the reserve bank for collection
and forwarded to the member bank on which they were drawn, the drawee
should remit or provide funds to meet them within an agreed transit
time, failing which the amount should be chargeable against the reserve
account of the drawee in the reserve bank; but that the reserve bank
reserved the right to charge checks so forwarded against the drawee's
reserve account at any time when in any particular case it deemed it
necessary to do so. Held—
1. That the last provision, consented to by the drawee bank, created a
power, in the interest and for the security of the owners of such checks,
which was not revoked by insolvency of the drawee bank, and that upon
learning of such insolvency it became the duty of the reserve bank, even
though the transit time had not expired, to charge such checks against the
reserve account of the drawee.
2. This lien was not affected by the fact that the drawee bank had
retained the right to draw drafts on the reserve, (30 Fed. Rep. (2d
series), 198, affirmed.)
(Early, Receiver, v. Federal Reserve Bank of
Richmond, 281 U. S. R. 84.)
Bank held not liable to corporation for aiding fraud in payment of unauthorized
notes, where it derived no benefit from checks or notes except small collection fees.
(U. S. C. C. A. 1929.) In suit by corporation against bank on ground that
payment of unauthorized notes by checks drawn through deposits constituted fraud which bank aided, dismissal of bill held proper, where
defendant had no knowledge of infirmity in notes except such as appeared
on face and derived no benefit from any of checks or notes except small
collection fees. (Lincoln Oil Producing Co. v. Clark National iBank, 35
Fed. Rep. (2d series), 6.)




165

166

REPORT OF THE COMPTROLLER OF THE CURRENCY

That one directing bank to draw on corporation for payment of note signed by him
afterwards countersigned check for payment did not require bank to inquire whether
note or check was authorized.

(U. S. C. C. A. 1929.) Fact that one directing bank to draw on corporation
for payment of note which bore his signature as one of makers countersigned check for such payment held not to require defendant to go to
extent of inquiring whether note or check had been authorized by board
of directors, or whether there was possibility of some future complaint by
minority stockholders. (Ib.)
That corporation executed note payable to officer did not show breach of trust.

(U. S. C. C. A. 1929.) Corporations frequently execute notes payable to
their officers, and such a circumstance did not justify conclusion that
breach of trust had been committed by officer or that misapplication of
funds was intended by him as respects bank's liability. (Ib.)
Bank was bound to honor corporation's checks drawn in proper form as long as there
were sufficient funds.

(U. S. C. C. A. 1929.) Defendant bank held bound to honor checks of corporation when drawn in proper form as long as there were sufficient
funds, since its relation to corporation was simply that of debtor and
creditor and not agent or trustee. (Ib.)
Equity—Corporation's suit against bank for assisting fraud of officers held properly
dismissed for laches.

(U. S. C. C. A. 1929.) Suit by corporation against bank on theory that
bank has aided fraud by officers of corporation in payment of unauthorized
notes held properly dismissed for laches, where suit could have been
brought earlier, and in meantime of those primarily liable, if liability
existed, some were dead, some gone from State, and some insolvent. (Ib.)
Absent contrary written agreement, bank receiving check for deposit became merely
depositor's collecting agent. (Laws Minn., 1927, ch. 138, sec. 1.)

(U. S. D. C. 1929.) Under Laws Minn., 1927, chapter 138, section 1,
providing that bank receiving items for deposit or collection, in absence
of written agreement to contrary, shall act only as depositor's collecting
agent, that all items shall be credited subject to final payment in cash
or solvent credits, and that bank shall not be liable for default or negligence of its duly selected correspondents, there was a conclusive presumption, in absence of required written agreement, that bank, when it
received check from payee for deposit, became merely depositor's collecting agent, and that relation of debtor and creditor never existed between
it and drawers of check, and that it never owned check. (Schram v.
Askegaard, 34 Fed. Rep. 348.)
Bills and notes—Drawers who stopped payment on check held not liable to collecting
bank's correspondent which had credited collecting bank with amount thereof
before it closed its doors. (Laws Minn. 1927, ch., 138, sec. 1.)

(U. S. D. C. 1929.) Since under Laws Minn., 1927, chapter 138, section
.1, bank receiving payee's check for deposit never became more than
depositor's collecting agent, and did not own such check, correspondent
bank to which collecting bank sent check for collection never became
anything more than its agent for collection., and drawers of check stopping
payment thereon therefore did not become liable to said correspondent
on its failure to make collection and inability to recover amount of check
previously credited to collecting bank because latter had closed its doors.
(Ib.)
COLLATERAL SECURITIES
Pledges—Assignee of bankrupt's note and collateral securing other demands of
"payee" could not apply collateral to other notes of bankrupt held by him.

(U. S. C. C. A. 1929.) Where bankrupt's note provided that collateral was
deposited for payment of such note and other demands of "payee,"
assignee of note and collateral could not apply such collateral to other
notes of bankrupts held by him, in view of obvious intention of parties.
(Jones v. Kendall. In re Haynsworth et al., 34 Fed. Rep. (2d series),
344.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

167

Bankruptcy—Order for disposition of stock held by trustees of separate bankruptcy
estates held not erroneous, where sale as whole would be more advantageous.

(U. S. C. C. A. 1929.) Order for disposition of corporate stock held by
trustees of separate bankruptcy estates held pot erroneous, where combined stock represented controlling interest in corporation, in view of
more advantageous sale of entire stock. (Ib.)
Bankruptcy—Substantial right and justice should control in bankruptcy proceeding.

(U. S. C. C. A. 1929.) Bankruptcy proceeding is litigation in which substantial right and justice, rather than technical form, should control.
(Ib.)
Bankruptcy—Bankrupt's assignment of stock to bank held void, as "preference/7
where bankrupts were insolvent and bank's president had knowledge of their
condition. (Bankruptcy act, sec. 60; 11 U. S. C. A., sec. 96.)

(U. S. C. C. A. 1929.) Transfer by bankrupts to bank of equity in
certain stock, either as collateral to secure past indebtedness or as payment thereon, was "preference," and should be avoided under bankruptcy
act, section 60 (11 U. S. C. A., Sec. 96), where bankrupts were insolvent
and president of bank had full knowledge of their condition, though trustee
may move before referee for order permitting him to hold such transfer
for benefit of estate. (Ib.)
Subrogation—Contractor's surety, paying materialmen and taking assignment of
their claims, became subrogated to rights of materialmen.

(U. S. C. C. A. 1929.) Highway contractor's surety, paying claims of
materialmen and taking assignments of their claims, became subrogated
to rights of materialmen. (Riverview State Bank v. Wentz et al., 34
Fed. Rep. (2d series), 419.)
Subrogation—Contractor's surety, paying claims of materialmen and taking assignments, had right to funds due contractor superior to bank lending contractor
money and taking assignment of money due.

(U. S. C. C. A. 1929.) Rights of highway contractor's surety, paying
materialmen's claims and taking assignments of claims, to funds due
contractor, held superior to rights of bank lending money to contractor
and securing loan by an assignment of money due and to become due contractor for work done, notwithstanding contract provided that highway
commission, if it so elected, could hold any balance due contractor for
payment of labor and materialmen, where highway commission paid
fund into court. Symes, district judge, dissenting. (Ib.)
Bank authorized to deliver bonds held as securities.

(U. S.' C. C. A. 1930.) Bank accepting order to deliver bonds held as
securities is presumed to have acted within its powers. (Sibert v. Continental National Bank of Jackson County, Mo., et al., 41 Fed. Rep. (2d
series), 35.)
Evidence held not to show agreement for or actual substitution of accounts for accounts
assigned.

(U. S. D. C. 1930.) Evidence held not to show agreement between newspaper company in hands of receivers and bank for substitution, nor actual
substitution, of accounts for specific accounts assigned to bank in writing
by company as security for loans. (Queen City Printing Ink Co. v.
Rochester Herald Co. Claim of Commonwealth Bank of New York,
38 Fed. Rep. (2d series), 254.)
Pledges—Agreement to substitute, and actual substitution of, accounts for accounts
assigned, are prerequisites to substitution thereof.

(U. S. D. C. 1930.) To substitute accounts for accounts specifically assigned
in writing as security for loans to assignor, there must be an agreement
to substitute them and actual substitution thereof. (Ib.)
Corporations—Proceeds of receivers' sale exceeding amount necessary to pay half of
claims of all creditors except bank, to which corporation assigned certain accounts
as security for loans, held not collected for bank.

(U. S. D. C. 1930.) Proceeds of receivers' sale of corporation's property
in excess of amount necessary to pay half of claims of all creditors except
22439°—31
12



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REPORT OF THE. COMPTROLLER OF THE CURRENCY
bank, to which corporation assigned certain accounts as security for
loans, held not collected for bank so as to entitle it to payment in full;
receivers having no power to determine validity of bank's claim to preference or collect money for bank. (Ib.)

Pledges—Assignee of bankrupt's note and collateral securing other demands of
"payee" could not apply collateral to other notes of bankrupt held by him.

(U. S. D. C. 1928.) Where bankrupt's note provided that collateral was
deposited for payment of such note and other demands of 'i payee," assignee of note and collateral could not apply such collateral to other
notes of bankrupt held by him, in view of obvious intention of parties.
(In re Haynsworth et al., 34 Fed. Rep. (2d series), 334.)
Pledges—Collateral pledged by bankrupts to secure note and other demands of payee
does not cover demands against bankrupts jointly with others.

(U. S. D. C. 1928.) Where bankrupts pledged collateral to secure certain
note and other demands of payee, such collateral can not be applied to
any demands, except those against bankrupts alone, and does not cover
demands against them jointly with others. (Ib.)
Pledges—Collateral pledged by bankrupts could not be applied to notes, in absence
of showing of any assumption of payment of such notes by bankrupt.

(U. S. D. G. 1928.) Collateral pledged by bankrupts to secure payment of
certain note and other demands of payee can not be applied to payment of
other notes, in absence of sufficient showing that there was assumption of
payment of such notes by bankrupt. (Ib.)
Evidence—Ex parte statement, without right of cross-examination, that bankrupts
assumed note, is not binding on trustee or other creditors.

(U. S. D. C. 1928.) Ex parte statement, without right of cross-examination,
that payment of certain notes was assumed by bankrupt firm, is not binding
on trustee or other creditors. (Ib.)
Bankruptcy—Where no action was taken on bankrupt's note providing for attorney's
fee before filing of petition in bankruptcy, attorney's fee is not proper claim.
(11 U. S. C. A., sec. 103.)

(U. S. D. C. 1928.) Where bankrupt's note contained provision for attorney's fee, and was secured by mortgage or collateral, and petition in bankruptcy was filed before any action was taken to institute suit; and there
was no contest over validity of note, nor right to have property sold,
attorney's fee is not proper claim, under 11 U. S. C. A., section 103, and
can not be charged against proceeds of property. (Ib.)
Bankruptcy—Bankrupt's assignment of stock to bank held void as "preference,"
where bankrupts were insolvent and bank's president had knowledge of their condition. {Bankruptcy act, sec. 60; 11 U.S. C. A., sec. 96.)

(U. S. D. C. 1928.) Transfer by bankrupts to bank of equity in certain
stock, either as collateral to secure past indebtedness or as payment
thereon, was " preference," and should be avoided, under bankruptcy
act, section 60 (11 U. S. C. A., sec. 96), where bankrupts were insolvent and
president of bank had full knowledge of their condition, though trustee
may move before referee for order permitting him to hold such transfer for
benefit of estate. (Ib.)
Pledges—Negotiability of bankrupts' note did not affect indebtedness to which collateral was applicable.

(U. S. D. C. 1928.) Fact that note of bankrupts was negotiable did not add
to or diminish indebtedness to which collateral was applicable. (Ib.)
Evidence—As regards admissibility of ex parte statement, right of cross-examination
is not saved merely because party making ex parte statement is sworn and subject
to cross-examination later.

(U. S. D. C. 1928.) As regards admissibility of ex parte statement, right of
cross-examination is not saved, where no right to cross-examination at
time can be had, simply by party being sworn and subject to cross-examination later. (Ib.)
Bills and notes—Party can not declare note due and payable by secret intention,,
never disclosed by act or word.

(U. S. D. C. 1928.) Party having option to declare note due and payable
can not claim that he has made such declaration by secret intention, never
disclosed by act or word. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

169

Bankruptcy—Order for sale as whole of stock in certain company owned by bankrupt
estates held not disturbed. (11 U. S. C. A., sec. 110 (6).)
(U. S. D. C. 1928.) Order under 11 U. S. C. A., sec. 110 (b), for sale as whole
of stock in certain company belonging to bankrupt estates, held not disturbed, as against contention that stock pledged to secure particular note
should be sold separately, where sale as whole would bring in larger sum
for entire stock, since it represented controlling interest in corporation,
especially in view of agreement between original holders of stock not to sell
separately. (Ib.)
Shipping—Bills of lading—Drafts—Collateral security.
(IT. S. D. C. 1929.) Bank held under agreements, to have bills of lading and
drafts covering shipments wrongfully delivered as collateral security for
shipper's outstanding indebtedness.
(The libelant bank suing carrier for wrongful delivery was a creditor
of the shipper and was in possession of two hypothecation agreements to
effect that all promissory notes, bills of lading, etc., pledged or otherwise
deposited with bank, or which might come into bank's possession, should
be held by bank as collateral security for any and all indebtedness owing
to bank by shipper, and that such securities should be deemed pledged to
bank for payment of such indebtedness from moment they or any of them
should come into bank's possession.) (Bank of California N. A. v. International Mercantile Marine Co., 40 Fed. Rep. (2d series) 80.)
Shipping—Misdelivery—Liability of carrier.
(U. S. D. C. 1929.) Carrier's misdelivery of freight to person not entitled
thereto subjects it to liability to anyone having right of property or entitled
to possession. (Ib.)
Shipping—Wrongful delivery—Order bill of lading—Carrier's liability.
(U. S. D. C. 1929.) Carrier's liability for misdelivery extends to anyone
who for value and in good faith purchases order bill of lading, either
before or after wrongful delivery. (Ib.)
Shipping—Wrongful delivery—Parties entitled to sue—Bank holding documents.
(IT. S. D. C. 1929.) Bank holding bills of lading and drafts as collateral
security could sue carrier wrongfully delivering goods. (Ib.)
Shipping—Arrival of goods—Carrier's duty—Storing merchandise.
(U. S. D. C. 1929.) Where salmon was shipped on order bill of lading,
carrier was required to store salmon for owner's account if unable to find
consignee or indorsee of bills of lading. (Ib.)
Shipping—Delivery of goods—Strangers.
(U. S. D. C. 1929.) Carrier has no right under any circumstances to deliver
goods to stranger. (Ib.)
Shipping—Wrongful delivery—Carrier's liability—Time of fixing.
(U. S. D. C. 1929.) Carrier's liability for wrongful delivery should be fixed
as of time it made it possible for person receiving goods to receive goods,
though actual delivery was later. (Ib.)
COLLECTIONS
Federal reserve bank receiving checks for collection held agent of forwarding bank,
and not creditor of drawee bank.
(U. S. D. C. 1930.) Federal reserve bank receiving checks for collection
held agent of forwarding bank, and not creditor of drawee bank, so as to
constitute its remittances unlawful preference on latter's failure. (12
U. S. C. A., sec. 91.)
(Federal reserve bank, as a clearing house and agent for its member
banks, received checks for collection and mailed cash letters, being checks
designated to drawee bank for collection and remittance. Reserve account of the drawee bank in Federal reserve bank not being large enough
to take care of draft covering cash letters, drawee bank sent reserve bank
checks for collection and credits drawn by others on other banks and
designated amount in currency which was credited to drawee's reserve
account. Checks and currency in question were mailed to reserve bank
after board of directors of drawee bank adopted resolution closing drawee




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REPORT OF THE COMPTROLLER OF THE CURRENCY

bank because of its insolvency, and both remittances were made in contemplation of insolvency.) (Hirning v. Federal Reserve Bank of Minneapolis, Minn., 42 Fed. Rep. (2d series), 925.)
Federal reserve bank receiving uncollectible draft as remittance for cash letter, acting as
agent for collection from itself, held entitled to enforce trust upon cash in drawee bank.
(U. S. D. C. 1930.) Federal reserve bank receiving uncollectible draft as
remittance for cash letter, drawee bank acting as agent for collection from
itself, held entitled to enforce trust upon cash in drawee bank sufficient to
satisfy draft. (Ib.)
Drafts placed by bank to trust company's credit for borrower held collected by company on being credited by bank, making checks issued for drafts preferred claim
against insolvent company. {Banking act, sec. 34 and sec. 19, subd. 4, as
amended by Laws, 1925, p. 129, sec. 8.)
(Ga. Sup. Ct. 1929.) Kuniansky obtained two loans from the Mortgage
Bond Co. of New York. When the papers were completed they were
attached to drafts drawn by the brokers on the lender. These drafts
were left with the Colonial Trust Co. for collection. The trust company
issued its checks to Kuniansky for the amount of the loan. It deposited
the drafts with the Fulton National Bank in its regular checking account.
The drafts were accepted by the bank, with the understanding that, if
not paid, they would be charged back to the trust company's account.
Before the checks given by the trust company to Kuniansky could be
cleared, that company failed. It had not checked out its balance; on the
contrary, the balance had been largely increased. The Mortgage Bond
Co. refused payment of the drafts, and returned them to the bank. At
the time the Colonial Trust Co. closed its doors, it was indebted to the
Fulton National Bank on notes larger in amount than the balance to its
credit in its checking account. The bank undertook to set off this balance
against the notes, as it had a right to do, under an express agreement in
writing. It then proved against the trust company a claim on the
Kuniansky drafts. Thereafter Kuniansky filed his claim against the
trust company, based on the checks which the trust company had given to
him, and claiming a lien on the trust company's assets under section 34
of article 19 of the banking law. (Laws, 1919, p. 206.) Shortly thereafter he transferred this claim to the Fulton National Bank. The State
superintendent of banks rejected the claim, and Kuniansky, for the use of
the bank, brought this suit to establish the claim under section 17 of
article 7 (Laws, 1919, p. 159), and at the same time to enjoin the superintendent from paying out the funds of the trust company until the question
could be determined. Held, that the court erred in refusing an injunction,
inasmuch as the petitioner was entitled, under the facts, to assert the lien
claimed. (Kuniansky v. Mobley, Superintendent of Banks, et al., 146
S. E. R. 898.)
CONSOLIDATION
CROSS REFERENCES:

TAXATION—
TAXATION OF CONSOLIDATED BANKS
,
TAXATION OF REORGANIZED BANKS
TAXATION OF AFFILIATED CORPORATIONS
TRUSTS—
CONSOLIDATION OF STATE BANK WITH NATIONAL BANK—SUCCESSION OF NATIONAL BANK TO TRUSTS HELD BY STATE
BANK

Page
222
222
222

234

Contract to purchase stock of consolidated bank held terminated under new plan
requiring purchase of such stock and shares of speculative corporation; "as issued."
(U. S. C. C. A. 1929.) Contract for purchase of stock of consolidated
bank, which contemplated nothing more than the purchase of additional
stock in established national bank under original plan, held terminated,
where new plan required purchase of units including not only stock of
consolidated bank, but equal number of shares of presumably more
speculative corporation, where both sides contracted with reference to
original plan; words "as issued" in original plan relating to right to
purchase stock of consolidated bank, not including obligation to purchase
units comprising shares of consolidated bank and more speculative corporation. (In re Civic et al., 34 Fed. Rep. (2d series), 624.)



REPORT OF THE COMPTROLLER OF THE CURRENCY
Corporations—Consolidation—Rights

and liabilities of consolidated

171

corporation.

(111. Sup. Ct. 1914.) By the consolidation of two corporations under
statutory authority, the original corporations ceased to exist, and the
consolidated corporation acquired and succeeded to all the faculties,
property, rights, and franchises of its component parts, and became
subject to all the duties, obligations, and conditions imposed upon them.
(Chicago Title & Trust Co. v. Zinser et al., 105 N. E. R. 718.)

Trusts—Delegation of powers—Discretionary

powers.

(111. Sup. Ct. 1914.) If a power is given to an executor or trustee which is
not ministerial or given for the purpose of executing a declared trust
which the court can enforce, but which involves the exercise of discretion
and judgment, the power can not be delegated or transferred to another,
either by the trustee or a court. (Ib.)
Corporations—Acting as trustees—Delegation of powers.

(111. Sup. Ct. 1914.) The rule prohibiting a trustee from delegating powers
involving the exercise of discretion is not applicable, where the trustee,
is a corporation, as the element of trust in the trustee's judgment and
discretion is entirely wanting; a corporation being without personality
and subject to change in its administration and organization. (Ib.)
Corporations—Trusts—Delegation

of powers—Consolidation.

(111. Sup. Ct. 1914.) A consolidated corporation was entitled to execute
a trust as executor under a will naming a corporation, which was consolidated into it, as executor to administer the trust, as the testatrix, in
making the appointment, knew that the corporation named was subject
to change in its administration, and that the statute authorized changes
in its organization and consolidations with other corporations, and therefore contemplated such a consolidation. (Ib.)
State legislation is not essential to authorizing consolidation of State and national
bank.

(Va. Sup. Ct. App. 1930.) State legislation is not essential to operation of
Federal act for consolidation of State and national banks (12 U. S. C. A.,
sees. 30, 34a). (Hofheimer v. Seaboard Citizens' Nat. Bank of Norfolk,
153 S. E. R. 656.)
State statute governing conversion of State bank into national bank does not apply
to consolidation of State bank with national bank.

(Va. Sup. Ct. App. 1930.) State statute governing change of State bank
to national bank and consolidation held not to apply to consolidation of
State with national bank. (Acts 1928, ch. 507, sees. 8, 9a; 12 U. S. C. A.
sees. 30, 34a.)
(Acts 1928, ch. 507, sec. 8, relates to change of status from State bank
to national bank, while section 9a, providing that State banks may be
merged or consolidated with other State or with national banks, refers
to procedure under statutes having to do only with cases where national
banks become consolidated with State banks, and thus the provisions of
the national banking act relative to consolidation of State banks with
national banks.) (12 U. S. C. A. sees. 30, 34a, apply in full force in
Virginia.) (Ib.)
DEPOSITS
GENEEAL OK SPECIAL
RECEIPT OF DEPOSITS
DEPOSIT OF SCHOOL FUNDS
APPLICATION OF DEPCSIT ON CLAIM
SPECIAL DEPOSITS.._ =
CERTIFICATE OF DEPOSIT
INSURANCE OF DEPOSITS
ESCHEAT OF DEPOSITS TO STATE
ACTIONS BY DEPOSITORS
GENERAL OR SPECIAL

Page
171
172
173
174
175
175
175
177
177

Deposits—Special—General—Relationship.

(U. S. C. C. A. 1930.) If deposits are special, relationship between bank
trust relationship, but, if deposits are general, relation-

and
 depositor is


172

REPORT OF THE COMPTROLLER OF THE CURRENCY
ship is that of creditor and debtor.
(2d series) 14.)

(Pitts v. Pease et al., 39 Fed. Rep.

"Special deposit."

(U. S. C. C. A. 1930.) Bank deposit is special where bank becomes bailee,
and title to deposit remains in depositor; "special deposit." (Ib.)
"General deposit."

(U. S. C. C. A. 1930.) If title to deposit passes to bank with right to use deposit in its business, it being bound only to return equal amount, deposit
is general; "general deposit." (Ib.)
Bondholders'

assessments—Deposit—Nature.

(U. S. C. C. A. 1930.) Bondholders' assessments deposited under agreement for purpose of retiring notes at maturity held to constitute general
and not special deposit.
(Agreement under which deposit was made provided that legal title to
deposits should be in bank, but that beneficial interest therein, subject
to bank's rights, should remain in depositors, that deposits should draw
interest at specified rate per annum until maturity of notes, and that, after
notes were paid, bank should account to depositors for amount thereof
with interest.) (Ib.)
Subrogation—Promissory

notes—Indorsers.

(U. S. C. C. A. 1930.) Indorser paying notes before maturity, accepting
bank's obligation to hold bondholders' assessments deposited to retire
notes at maturity, held not entitled to be pubrogated to depositor's rights.
Bondholder's assessments were deposited in bank under agreement
between depositors and bank for purpose of retiring notes at maturity.
On paying notes before maturity, bank assigned to indorser without
recourse bonds which it held as collateral, and agreed to hold deposits
of bondholders for his benefit.) (Ib.)
Usury—Interest—Eight per cent—Directly or indirectly.

(U. S. C. C. A. 1930.) Interest exceeding 8 per cent annually, either directly or indirectly by way of commission for advances or discount,
constitutes usury. (Park's Ann. Civ. Code Ga. sec. 3436.) (Ib.)
RECEIPT OF DEPOSITS

Appeal and error—Findings on substantially conflicting evidence that bond interest
coupons were deposited with bank for collection only will not be disturbed on appeal,

(Cal. Dist. Apps. 1928.) Findings, based on substantially conflicting
evidence, that depositor and bank agreed that bond interest coupons,
amount of which were credited to depositor's account, were deposited for
collection only, and that advance to depositor was conditioned on collection thereof, and that depositor was instructed not to draw any further
checks against account until bank reported collection, will not be disturbed on appeal. (Anthony v. Crocker First National Bank, 272 Pac. R.
767.)

Appeal and error—Contention that bank pass book constituted written contract,
which could not be varied by parol testimony, can not prevail on appeal, where no
objection was made to such evidence. (Code Civ. Proc. sec. 1856.)

(Cal. Dist. Apps. 1928.) Contention that bank pass book, showing unrestricted credit for amount of bond interest coupons, constituted written
contract, which could not be varied by parol testimony that coupons were
deposited for collection only, under Code Civ. Proc, section 1856, can
not prevail on appeal, where no objection was made to such evidence.
(Ib.)
Evidence—Bank pass book is not "written contract" which can not be varied by
parol testimony. (Civ. Code, sec. 1625; Code Civ. Proc. sec. 1856.)

(Cal. Dist. Apps. 1928.) A bank pass book does not constitute a contract
in writing, within Civ. Code, section 1625, so as to preclude parol testimony, under Code Civ. Proc, section 1856, that bond interest coupons,
amount of which was credited to depositor, were deposited for collection
only. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

173

Statute held to entitle bank to charge uncollectible bond interest coupons to depositor's
account. (Bank actf sec. 16c.)

(Cal. Dist. Apps. 1928.) Under bank act (St. 1925, p. 513), section 16c,
which became part of terms under which uncollectible bond interest
coupons were deposited with bank, which forwarded them for collection
on following day, it was entitled to charge them to depositor's account, in
absence of written agreement to contrary. (Ib.)
Bank held entitled to judgment against depositor for amount advanced on uncollectible bond interest coupons deposited for collection only, irrespective of statute,
(Bank act, sec. 16c.)

(Cal. Dist. Apps. 1928.) Uncollectible bond interest coupons having been
deposited with bank for collection only, not sold to it, it was entitled to
judgment against depositor for amount advanced thereon, irrespective
of bank act (St. 1925, p. 513), section 16c. (Ib.)
DEPOSIT OF SCHOOL FUNDS

Depositaries—School funds—Oral designation—Assumption of duties.

(U. S. C. C. A. 1930.) Bank, orally designated as school district depository,
by giving bond, receiving money, and undertaking to act, can not subsequently complain that it was not legally designated. (Gen. St. Minn.
1923, sec. 2836.)
(Gen. St. Minn. 1923, sec. 2836, requires designation of depository for
school district to be in writing, which shall set forth all terms and conditions upon which deposits are made.) (Richfield Nat. Bank of Richfield,
Minn., v. American Surety Co. of New York et al., 39 Fed. Rep. (2d
series), 387.)
Depositaries—Deposits—Conditions—Officers—Authority.

(U. S. C. C. A. 1930.) Absent contrary statute, school district officers
may prescribe manner in which fund deposited in depository bank should
be handled. (Gen. St. Minn. 1923, sec. 2836.) (Ib.)
Depositaries—School

fund—Deposit—Terms—Agreement.

(U. S. C. C. A., 1930.) Bank designated as depository of school funds, by
acquiescing in terms of deposit, amounting to agreement regarding disbursements, held bound thereby. (Gen. St. Minn. 1923, sec. 2836.)(Officials of school district followed custom of combining in one instrument warrants of district with check of treasurer, thereby disbursing all
funds only upon such instrument when signed by three officials, namely,
chairman, clerk, and treasurer. When bank became depository, it was
advised in writing that no funds should be disbursed, except upon warrant
or check bearing signature of such officials.) (Ib.)
Depositaries—School

fund—Deposit—Instructions—Authority.

(U. S. C. C. A. 1930.) Bank designated as depository of school funds,
having been advised by clerk of terms of deposit, can not subsequently
contend board's instructions were unauthorized.
(Bank, when it accepted deposit, had right to and should have presumed
that such instructions were regularly authorized. Record also disclosed
that board regularly approved action of clerk, and deposit was received
and accepted upon terms set forth in instructions given by clerk.) (Ib.)
Subrogation—School
Surety.

fund—Misapplication—Knowledge—Evidence—Sufficiency-

(U. S. C. C. A. 1930.) Evidence in suit by school treasurer's surety to be
subrogated to district's rights against bank held to show bank had knowledge of treasurer's default.
(Defendant bank had been designated as depository of school district
funds. Treasurer defaulted and absconded, and surety duly paid full
amount of defalcation, and, claiming to be subrogated to rights of school
district, sought reimbursement from bank on ground that it had wrongfully aided such defalcation or had cashed checks with knowledge that
sums paid would be misapplied.) (Ib.)



174

REPORT OF THE COMPTROLLER OF THE CURRENCY

Subrogation—School treasurer's

bond—Surety—Defalcation—Payment.

(U. S. C. C. A. 1930.) School treasurer's surety having paid defalcation held
subrogated to rights of school district against depository bank aiding
wrongdoer.
(School district acknowledged payment by surety and ceded to surety
all of its rights against depository bank. Bank having paid irregular
checks with knowledge of their misapplication, its equities are neither
superior nor equal.) (Ib.)
Subrogation—School

treasurer—Bond—Surety—Laches—Estoppel—Evidence.

(XL S. C. C. A. 1930.) Subrogation suit by school treasurer's surety
against depository bank held not barred by laches or estoppel under facts
showing discovery of defalcations.
(School authorities had no knowledge of defalcations of treasurer until
about time he absconded, and it did not appear that they at any time owed
any duty to check up on his transactions.) (Ib.)
APPLICATION OF DEPOSIT ON CLAIM

Set-off and counterclaim—Real debt, as between persons with mutual account, is
difference between two accounts.

(U. S. D. C. 1930.) Where two persons have dealings out of which each
becomes indebted to the other, and they have what are called mutual
accounts, and respective debts are of a like kind, and each due and payable,
the real debt of one to the other is difference between two accounts.
(Charles A. Eaton Co. v. Louis Mark Shoes, Inc., 37 Fed. Rep. (2d series),
715.)
Set-off and counterclaim—Right of set-off is purely statutory.

(U. S. D. C. 1930.) Right of set-off as between mutual accounts, or to
defalk one account against the other, is purely statutory. (Ib.)
Payment—Pleading—Defenses
claim.

of payment and set-off are set up through counter-

(U. S. D. C. 1930.) Defenses of payment, payment with leave and set-off
are, under present practice, set up through a counterclaim. (Ib.)
Relation of bank and depositor under Pennsylvania law is that of debtor and creditor.

(U. S. D. C. 1930.) Under the law of Pennsylvania, the relation between
bank and depositor is that of debtor and creditor, the bank being debtor
and depositor creditor. (Ib.)
On demand by depositor for balance of deposit, bank had right to appropriate account
to payment of its debt.

(U. S. D. C. 1930.) On demand of depositor for balance of deposit, bank had
right to appropriate account to payment of its debt, which was payable on
demand, regardless of whether there had been a waiver or withdrawal of
previous demand for payment, which, under law of Pennsylvania, would
not of itself deprive bank of right to set off its debt. (Ib.)
Receivers—Equity receivers represent court, have no authority outside jurisdiction,
and have only defendant's rights.

(U. S. D. C. 1930.) Equity receivers are no more than the hand"of the court,
to take assets of defendant into possession and hold them, subject to such
disposition as court may decree, and they have no existence outside of the
jurisdiction of their appointment, and even within that jurisdiction can,
generally speaking, enforce no rights against third persons, other than
those defendant himself could have asserted. (Ib.)
Bank deposit, though ultimately found to belong to bank as set-off, must during
receivership be in possession of court.

(U. S. D. C. 1930.) In case of receivership, though deposit of defendant in
bank may ultimately be found to belong to bank as set-off against its debt,
and may be so awarded, it must in the meantime be in possession of court.
(Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

175

Bills and notes—Bank, accepting payments on demand note after demand or payment, did not waive rights or withdraw demand made; "waiver."
(U. S. D. C. 1930.) Acceptance by bank of payments on demand note after
demand for payment did not justify finding that bank waived any of its
rights, or withdrew demand made, since mere withholding of enforcement
of its right to payment was not a "waiver" of anything. (Ib.)
Receivers had no equity relative to bank deposit by reason of bank's failure to appropriate balance to payment of debt until after appointment of receivers.
(U. S. D. C. 1930.) Receivers had no equity as to bank deposit by reason
of failure of bank to appropriate balance to payment of its debt until after
appointment of receivers, since all that court took under its control by
virtue of receivership was a chose in action to be enforced against bank.
(Ib.)
SPECIAL DEPOSITS

Director of insolvent bank held not entitled to recover out of bank's assets value of
bonds stolen from bank by employee.
(U. S. C. C. A. 1930.) Director of insolvent bank held not entitled to recover
out of bank's assets value of bonds stolen from bank by employee.
(Even if bank held bonds, which plaintiff held as trustee for himself for
life with remainder in others, as bailee and was negligent, such negligence
consisted in failure of directors, including plaintiff, to exercise proper care
in selecting employees or in failing to discover that one of them was dishonest.) (Johnson v. National Bank of Franklin et al., 41 Fed. Rep. (2.d
series) 364.)
CERTIFICATE OF DEPOSIT

Courts—Holding of court of appeals as to authority of bank cashier not in conflict
with Supreme Court decisions.
(Mo. Sup. 1925.) Holding of court of appeals that Revised Statutes, 1919,
section 11752, prohibiting bank cashier from issuing bills payable without
consent of directors did not apply to certificate of deposit, held not in
conflict with decisions of Supreme Court; the question never having been
decided. (State ex rel. Cole et al. v. Trimble et al., Judges, 269 S. W.
Rep. 959.)
Courts—Holding that title of transferee of certificate of deposit payable to trustee was
for jury not in conflict with decision of Supreme Court.
(Mo. Sup. 1925.) The holding of the court of appeals that, where certificate
of deposit was issued to payee as trustee and purchased on his indorsement on statement that he was short of funds, there being no evidence of
existence of trust or any beneficiary, question whether he acquired title
was for jury, held not in conflict with any decision of the Supreme Court,
especially in view of Revised Statutes, 1919, section 13426, and negotiable
instruments act. (Rev. St., 1919, sees. 811, 817, 818, 830, 837, 838, 842,
and 843.) (Ib.)
Bills and notes—Courts—Court's certificate of deposit payable in current funds held
negotiable; decision as to negotiability not in conflict with Supreme Court decision;
"currency."
(Mo. Sup. 1925.) Certificate of deposit payable in current funds held
negotiable, and decision to that effect by court of appeals not in conflict
with any decision of Supreme Court conditions under which rule that payment in "currency" rendered instrument not negotiable being no longer
pertinent, especially in view of Revised Statutes, 1919, section 793; "currency" meaning anything in general lawful use as money and accepted
as such without discount. White and Woodson, JJ., dissenting. (Ib.)
INSURANCE OF DEPOSITS

Insurance of deposits.
(U. S. C. C. A. 1930.) Certificate of deposit, though in effect becoming
demand certificate on due date, was not covered by bond guaranteeing
deposit of account subject to check.
(The bond as finally executed was on condition that bank receiving
deposit should promptly pay over on proper legal order such cash and




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REPORT OF THE COMPTROLLER OF THE CURRENCY

cash items as should have been actually and regularly deposited with it
during term of bond in an account subject to check, together with the
balance of cash or cash items to the credit of obligee at beginning of
term.) (Clarksburg Trust Co. v. Commercial Casualty Ins. Co., 40
Fed. Rep. (2d series) 626.)
Insurance of deposits.
(U. S. C. C. A. 1930.) Bond given to secure deposit generally will be held
to secure deposits for which interest-bearing certificates have been
issued. (Ib.)
Insurance of deposits.
(U. S. C. C. A. 1930.) General language of bond in case of compensated
surety will be construed most strongly against company issuing it. (Ib.)
Insurance of deposits.
(U. S. C. C. A. 1930.) Certificate of deposit, forwarded for collection, was
not "cash item" deposited in account subject to check within meaning of
bond. (Ib.)
Equity.
(U. S. C. C. A. 1930.) Equity will not ordinarily relieve against mere
mistake of law. (Ib.)
Equity.
(U. S. C. C. A. 1930.) Equity will grant relief in case of mistake of law
going, not to import of agreement actually made, but to meaning of
language used in embodying same in written instrument. (Ib.)
Insurance of deposits.
(U. S. C. C. A. 1930.) Bond of compensated surety is construed by court
as is an insurance contract. (Ib.)
Reformation of instruments.
(U. S. C. C. A. 1930.) Equity will reform written instrument to make it
conform to true agreement. (Ib.)
Reformation of instruments.
(U. S. C C. A. 1930.) Complaint alleging facts showing that parties were
mistaken as to effect of language used in bond was sufficient to warrant
reformation. (Ib.)
Courts.
(U. S. C. C. A. 1930.) Court has power of its own motion to transfer cause
to equity and send it back for hearing in accordance with equitable rights
of parties. (Jud. Code, sec. 274 (a) (28 U. S. C. A., sec. 397.)
(Although Judicial Code, sec. 274 (a), act March 3, 1915, 38 Stat. 956
(28 U. S. C. A., sec. 397), authorizing amendment to pleadings in case of
suit brought in equity, which should have been brought at law, or suit
at law, which should have been brought in equity, does not abolish distinctions between actions at law and suits in equity, its purpose was
nevertheless to end unseemly practice of turning litigant out of court
because of failure to institute action on proper side.) (Ib.)
Courts.
(U. S. C. C. A. 1930.) Parties by instituting action at law did not elect
between legal and equitable right so as to be estopped from seeking
transfer of cause. (Jud. Code, sec. 274 (a) (28 U. S. C. A., sec. 397).)
(Ib.)
Appeal and error.
(U. S. C. C. A. 1930.) Ordinarily, in order that points may be passed on
by appellate court, they must have been reserved in lower court. (Ib.)
Courts.
(U. S. C. C. A. 1930.) Appellate court will transfer cause from law to
equity, or vice versa, on its own motion, regardless of failure to properly
raise question in lower court when otherwise failure of justice may result.
(28 U. S. C. A., sec. 391.) (Ib.)



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177

Reformation of instruments.
(U. S. C. C. A. 1930.) Parol proof to warrant reformation of instrument
must be of the clearest and most satisfactory character. (Ib.)
ESCHEAT OF DEPOSITS TO STATE

Escheat—Power of legislature to prescribe.
(U. S. C. C. A. 1930.) Legislature has power to prescribe that property
shall escheat on giving preliminary show cause order by publication.
(Territory of Alaska v. First National Bank of Fairbanks, 41 Fed. Rep.
(2d series), 186.)
Escheat—Presumption of intestacy.
(U. S. C. C. A. 1930.) Where no administration has been had after disappearance for 10 years, presumption of intestacy obtains. (Ib.)
Escheat—When heir can not make claim.
(U. S. C. C. A. 1930.) When owner's right escheats by absence, heir is
forcelosed on failure to make claim after giving citation. (Ib.)
Escheat—When Territory became entitled to bonds by escheat.
(U. S. C. C. A. 1930.) Territory became entitled to bonds by escheat, on
proof owner had not been heard from for 10 years, and that no claim was
made by heirs in response to published citation.
(The owner deposited war-savings certificates and United States bonds in
bank in 1918, and then disappeared. The bank endeavored without success
to locate the depositor during the last two years preceding the trial and
made inquiries at post office and probate court. An order to show cause
described the property and stated that it had escheated to the Territory of
Alaska, described the depositary, and the time for hearing, and admonished
all persons to appear and make claim or show cause why escheat should
not be decreed.) (Ib.)
Escheat—Presumption that decedent leaves next of kin is rebutted by deceased's
absence for 10 years without probate proceedings.
(U. S. C. C. A. 1930.) Presumption that decedent leaves next of kin is
rebutted by deceased's absence for 10 years without probate proceedings,
and by default in asserting claim, after show cause order. (Ib.)
ACTIONS BY DEPOSITORS

Insolvency—Certificate of deposit—A ciion—Petition—Sufficiency.
(U. S. C. C. A. 1930.) Substituted petition, in action on certificate of deposit
issued by bank prior to receivership, held sufficient to state cause of action.
(Substituted petition infirstcount set out certificate of deposit, and alleged
that name of bank of deposit was stamped on instrument over part of
printed words constituting name of another savings bank. Second count
of petition alleged circumstances under which deposit was made, including
preliminary negotiations, in order to shed further light on dubious document.) (Deutschle v. Wilson et al., 39 Fed. Rep. (2d series), 406.)
Evidence—Contracts—Ambiguity—Preliminary negotiations.
(U. S. C. C. A. 1930.) Where contract is ambiguous, preliminary negotiations may be considered in determining their true intent. (Ib.)
Contracts—Written portion—Printed portion—Inconsistency—Construction.
(U. S. C. C. A. 1930.) Where written and printed parts of contract are
apparently inconsistent, or there is reasonable doubt as to meaning
written words will control. (Ib.)
Contracts—" Written portion11—Printed portion—Construction.
(U. S. C. C. A. 1930.) Under rule that "written portion" of contract will
control printed portion when two are inconsistent, it is immaterial whether
written portion be by hand, typewriter, or stamped. (Ib.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY
EXCHANGE

Liability of writer of letter of credit.
(U. S. C. C. A. 1930.) Writer of letter of credit is liable to addressee, paying
money on face thereof, to extent determined by letter. (Grouf v. State
National Bank of St. Louis, 40 Fed. Rep. (2d series), 2.)
Equities in favor of beneficiary afford no defense.
(U. S. C. C. A. 1930.) Equities, in favor of beneficiary of letter of credit,
afford no defense to issuer of letter against addressee paying money on
faith thereof. (Ib.)
Estoppel.
(U. S. C. C. A. 1930.) Equitable estoppel requires false representation knowingly made to party not having means of knowledge and relying thereon
to his prejudice.
Defense of estoppel must be pleaded. (Ib.)
When circuit court of appeals will not disturb finding.
(U. S. C. C. A. 1930.) Finding, supported by substantial evidence, can not
be disturbed by circuit court of appeals. (Ib.)
Foreign bank cashing drafts payable in dollars not agreeing to accept kronen in payment not estopped to deny payment.
(U. S. C. C. A. 1930.) Foreign bank, cashing drafts payable in dollars on
basis of letter of credit, not agreeing to accept kronen tendered in payment
held not estopped to deny payment against issuer of letter.
(American bank issued letter of credit to resident of Austria and Austrian
bank cashed resident's drafts on basis of letter of credit, drafts being payable in dollars. On demand for payment, resident tendered payment in
kronen which Austrian bank refused and placed to savings account of
resident. There was testimony showing that Austrian bank agreed with
resident to accept kronen in payment but there was evidence to contrary
and no finding that Austrian bank did agree to accept kronen.) (Ib.)
Foreign bank refusing to return kronen tendered in payment and placing kronen in
savings account for drawers of drafts held not estopped from denying payment of
drafts.
(U. S. C. C. A. 1930.) Foreign bank, refusing to return kronen tendered in
payment of drafts and placing kronen in blocked savings account for
drawers of drafts, held not estopped from denying payment of drafts. (Ib.)
Addressee cashing drafts on faith of letter of credit, but making no representations
to issuer oj letter, held not estopped against issuer from denying payment of drafts.
(U. S. C. C. A. 1930.) Addressee cashing drafts on faith of letter of credit,
but making no representations to issuer of letter, held not estopped against
issuer from denying payment of drafts.
(Foreign bank as addressee in letter of credit paid drafts drawn by beneficiary of letter. Evidence showed no representation by addressee to
issuer of letter on which issuer relied to his detriment, but merely negotiations between addressee and beneficiary of letter looking to payment of
draft, though beneficiary procured fund from issuer to pay addressee.) (Ib.)
Swiss bank sold 8,000,000 Polish marks to American bank at 60 cents, available
at Warsaw bank, on June 6, 1920.
(U. S. C. C. A. 1930.) Swiss bank, cabling American bank, "sell best three
million Warsaw limit 60," and receiving reply, "sold three million Warsaw
60 value June sixth pay Polskakasa account bank United States," held to
have agreed to sell American bank, at 60 cents, Polish marks to be made
available to United States bank at Warsaw bank on June 6.
(The reply cable was confirmed by letter stating: "We informed you that
we sold * * * three million (3,000,000) Polish marks, at the rate of
60, value June 6th," and "instructed you to remit the amount to the
Polish State Loan Bank, Warsaw, to be placed to the credit of the bank of
United States." Subsequently, the Swiss bank wrote to the American
bank: "We * * * enclose our exchange of cables * * * according to which you sold for our account," and later, "with reference to
our letter * * * regarding your sale for our account," but, in letters
after dispute arose, spoke of transaction as "our sale to you," and alleged




REPORT OF THE COMPTROLLER OF THE CURRENCY

179

in answer to American bank's complaint praying restitution of amount
paid that transaction was "a purchase by the plaintiff from the defendant
* * * of foreign exchange.") (American Union Bank v. Swiss Bank
Corporation, 40 Fed. Rep. (2d series), 446.)
Contract was not fulfilled when marks were not delivered to Warsaw bank until four
days after time for performance of contract.
(U. S. C. C. A. 1930.) Swiss bank, whose correspondent bank did not
transmit Polish marks, purchased by American bank, to Warsaw bank, at
which Swiss bank agreed to make them available to another American
bank, nor notify Warsaw bank that correspondent bank was holding them
for it, until four days after time for performance, did not fulfill contract.
(Ib.)
Words " sixty value June 6" in American bank's cable related not to time interest
began to run but to time for establishment of credit for United States bank at Warsaw
bank.
(U. S. C. C. A. 1930.) Words "60 value June sixth" in American bank's
cable to Swiss bank, "sold three million Warsaw 60 value June sixth pay
Polskakasa account Bank United States," held to relate, not to time interest
began to run, but to time for establishment of credit for United States
bank at Warsaw bank. (Ib.)
Law of State wherein money was paid by American bank for Polish marks governed
in determining time for performance.
(U. S. C. C. A. 1930.) Law of State wherein money was paid by American
bank for Polish marks, which Swiss bank agreed to make available to third
bank at Warsaw bank, governed in determining time for performance in
American bank's action for restitution. (Ib.)
Swiss bank placing correspondent bank in funds without instructing correspondent
to do more than pay money to the Swiss bank's account failed to form contract.
(U. S. C. C. A. 1930.) Swiss bank, merely placing correspondent bank in
funds to establish credit for American bank, as directed by another American bank, without instructing correspondent to do more than pay money
to Swiss bank's account, failed to perform contract. (Ib.)
Warsaw bank at which American bank directed Swiss bank to make Polish marks
available was not agent of purchasing bank.
(U. S. C. C. A. 1930.) Warsaw bank, at which American bank directed
Swiss bank to make Polish marks, purchased by American bank, available
to another American bank, held not purchasing bank's agent, whose failure
to set up credit must be imputed to such bank. (Ib.)
Evidence—Custom—Admissibility.
(U. S. C. C. A. 1930.) Questions as to custom of banks to charge account of
customer for foreign exchange, held properly excluded. (Aachen &
Munich Fire Insurance Co. v. Guaranty Trust Co. of New York, 39 Fed.
Rep. (2d series), 578.)
Customs and usages—Evidence—Foreign exchange—Failure to transmit—Recovery
of consideration.
(U. S. C. C. A. 1930.) Evidence of custom did not establish that debit of
depositor's account for transmissal of marks was final, so that cause of
action for consideration accrued at that time without completed transfer.
(Plaintiff sued to recover amount charged against plaintiff's account as
purchase price of a wireless transfer of marks to Germany, which were
never rendered available to plaintiff, wherein defendant pleaded custom
of banks dealing in foreign exchange to charge account of purchasers on day
of transfer and to treat such charge as final, whether transfer was subsequently completed abroad. Defendant attempted to show that under
such custom the debit to plaintiff's account was final and that, because
plaintiff thereafter no longer stood in position of customer, right of action
to recover the consideration accrued upon the failure to transmit the marks
rather than after demand for payment as in case of bank deposit.) (Ib.)
Depositor—Status—Termination.
(U. S. C. C. A. 1930.) Termination of status as depositor requires some act
by bank, at request of customer, prejudicing rights of former. (Ib.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY

Limitation of actions—Statute of limitations does not run against alien enemy during
war.

(U. S. C. C. A. 1930.) War can only end by treaty of peace between
belligerents, and while war continues, courts of each belligerent are closed
to nationals of the other and statute of limitations will not be permitted
to run against alien enemy. (First Nat. Bank of Pittsburgh v. AngloOesterreichische Bank for Use of Anglo-Austrian Bank, Limited, for Use
of Grouf, 37 Fed. Rep. (2d series), 564.)
Limitation of actions—As regards limitation of actions, signing of treaty of St.
Germain in 1919 did not terminate war with Austria.

(U. S. C. C. A. 1930.) As regards statute of limitations, signing of treaty of
St. Germain in 1919 did not terminate war with Austria, and, even if
effect is given to it by reason of its incorporation into treaty of Vienna,
it did not become effective until ratification of latter treaty on November
8, 1921. (Ib.)
Limitation of actions—As regards limitation of action, joint resolution of Congress
of July 2, 1921, did not terminate war with Austria.

(U. S. C. C. A. 1930.) As regards to statute of limitation, joint resolution of
Congress of July 2, 1921 (42 Stat. 105), did not terminate war with Austria,
since such resolution was not legally binding on Austria, and restoration
of peace can be accomplished only by bilateral treaty. (Ib.)
Limitation of actions—As regards limitation of actions, private rights could not be
affected by nunc pro tune declaration of peace with Austria in 1921.

(U. S. C. C. A. 1930.) Although proclamation by President on November 17,
1921 (42 Stat. 1946), proclaimed peace treaty which had been ratified
November 8, and stated peace was proclaimed as of July 2, 1921, private
rights, including running of statute of limitation, can not be affected by
such nunc pro tune declaration, since treaty itself specified when it should
take effect, and proclamation can not vary terms of treaty. (Ib.)
Courts—In construing limitation statute, Federal court follows rulings of State
Supreme Court.

(U. S. C. C. A. 1930.) In construing statute of limitations, Federal court
will follow rulings of Supreme Court of State. (Ib.)
Limitation of actions—Limitation against action by Austrian bank against American
bank involving settlement of accounts after war held under facts not to begin to run
before August 1, 1921.

(U. S. C. C. A. 1930.) Action by Austrian bank against bank in United
States, brought after close of World War to recover amount received by
defendant from Treasurer of United States pursuant to Alien Property
Custodian's direction, defendant having taken such amount in settlement
of its claim against plaintiff for its kronen balance, held not barred by
limitation, since under facts statute did not begin to run before August 1,
1921. (Ib.)
War—Action by Austrian bank against American bank involving settlement of
accounts after war held not barred on theory Alien Property Custodian1 s demand
on defendant transferred title, where defendant did not comply with demand. {Trading with the enemy act sec. 9 {50 U. S. C. A.y appendix, sec. 9, note).)

(U. S. C. C. A. 1930.) Action by Austrian bank against bank in United
States to recover amount defendant received pursuant to direction of
Alien Property Custodian, defendant having taken such amount in settlement of its claim against plaintiff for its kronen balance, held not barred
on theory that Alien Property Custodian's demand in April, 1918, had
effect of transferring title to custodian of plaintiff's dollar balance with
defendant, where defendant did not comply with custodian's demand,
since under trading with the enemy act, section 9 (50 U. S. C. A., appendix,
sec. 9, note), payment to custodian is defense only to extent of such payment. (Ib.)
Set-off and counterclaim—Right of set-off depends on fact that debts have mutually
matured. {Practice act, 1915 Pa., sec. IJj. {Pa. Stat. 1920, sec. 17194).)

(U. S. C. C. A. 1930.) Right of set-off depends on fact that debts have
mutually matured and are due and payable in hands of parties for and
against whom set-off is sought under practice act, 1915, Pennsylvania,
section 14. (Pa. Stat, 1920, sec. 17194.) (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

181

Set-off and counterclaim—American bank, not having matured kronen account with
Austrian bankf could not set off amount received through Alien Property Custodian
after war representing part of Austrian bank's pre-war-account. (Trading with
the enemy act, sec. 8 (50 U. S. C. A., appendix, sec. 8).)
(U. S. C. C. A. 1930.) After World War, American bank held not entitled
to set-off against its kronen account with Austrian bank amount received
through Alien Property Custodian representing part of Austrian bank's
balance with it, where it had not matured its kronen account in Vienna,
such account not having been matured by outbreak of war, joint resolution of Congress July 2, 1921 (42 Stat. 105), treaty of Vienna of November
8, 1921, nor erection of custody deposit, and defendant not having availed
itself of provisions of trading with the enemy act, section 8 (50 U. S. C. A.,
appendix, sec. 8). (Ib.)
Payment—Only rate at which dollars and kronen can be set off against each other
is rate at time of set-off.
(U. S. C. C. A. 1930.) In settlement of account between Austrian bank and
bank in United States, only rate at which dollars and kronen can be set
off against each other is rate at time of set-off. (Ib.)
FEDERAL RESERVE BANKS
CROSS REFERENCES:

CHECKS—
POWER OF FEDERAL RESERVE BANK TO CHARGE CHECKS TO
ACCOUNT OF DRAWEE BANK NOT REVOKED BY DRAWEE'S
INSOLVENCY
COLLECTIONS—
FEDERAL RESERVE BANK RECEIVING CHECKS FOR COLLECTION
HELD AGENT OF FORWARDING BANK AND NOT CREDITOR OF
DRAWEE BANK

Page
165

169

Federal reserve bank could engage in open market transactions by sale of securities^
fix rediscount rate, and decline to rediscount eligible paper. (12 XJ. S. C. A.t
ch. 8, sees. 353-357.)
(U. S. C. C. A. 1929.) Federal reserve bank held entitled to engage in open
market transactions by the sale of securities, to fix a rediscount rate,
and to decline to discount eligible paper, irrespective of purpose to reduce
volume of broker's loans, since purchases and sales in the open market
are specifically authorized by 12 U. S. C. A., chapter 3, sections 353-357.
(Raichle v. Federal Reserve Bank of New York, 34 Fed. Rep. (2d series),
910.)
Federal reserve bank, subject to Federal Reserve Board's supervision, determines
what will be reasonable discount. (Federal reserve act, 12 XJ. S. C. A., sec. 221
et seq.)
(U. S. C. C. A. 1929.) Under Federal reserve act (12 U. S. C. A., sec. 221
et seq.), it is for the Federal reserve bank, subject to supervision of the
Federal Reserve Board, to determine what will be a reasonable discount.
(Ib.)
Statements as to condition of affairs, such as money shortage, etc., may be made
public by Federal Reserve Board, council, and banks. (Federal reserve act, 12
XJ. S. C. A., sec. 221 et seq.)
(U. S. C. C. A. 1929.) Under Federal reserve act (12 U. S. C. A., sec. 221
et seq.), statements as to condition of affairs, such as money shortage
and increased volume of collateral loans, may be made public by the
Federal Reserve Board, the council, and the Federal reserve banks, in
view of provisions for detailed reports on conditions of banks and for
intercommunication between the board and council regarding the general
affairs of the reserve banking system. (Ib.)
Bill alleging conduct of Federal reserve bank causing general reduction of security
prices held insufficient, absent allegation of bad faith or attempt to injure plaintiff.
(U. S. C. C. A. 1929.) Bill by owner of securities to restrain Federal reserve bank from doing various acts in derogation of plaintiff's alleged
rights, alleging that bank had engaged in a course of conduct which has
had for its purpose reduction in the volume of collateral and brokers'
loans, and general reduction of security prices, held insufficient, where it




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REPORT OF THE COMPTROLLER OF THE CURRENCY

was nowhere stated that bank had acted in bad faith or had aimed to injure the plaintiff. (Ib.)
Federal reserve bank may sell its securities in open market, fix discount rates, and
refuse to discount eligible paper, though policy may be mistaken. (Federal reserve
act, 12 U. S. C. A., sec. 221 et seq.)
(U. S. C. C. A. 1929.) Under Federal reserve act (12 U. S. C. A., sec. 221
et seq.) a Federal reserve bank may sell its securities in the open market,
fix discount rates which are unreasonably high, or refuse to discount
eligible paper, even though its policy may be mistaken and its judgment
bad. (Ib.)
Bill charging Federal reserve bank and Federal reserve system with causing general
reduction of security prices held dismissible for failure to join Federal Reserve
Board. (12 U. S. C. A., ch. 3, sec. 248 (j).)
(U. S. C. C. A. 1929.) Bill by owner of securities to restrain Federal reserve
bank from doing various acts in derogation of plaintiff's alleged rights,
in that bank and Federal reserve system generally spread propaganda
concerning an alleged money shortage and increasing volume of collateral
loans, thereby causing a general reduction of security prices, held dismissible, under 12 U. S. C. A., ch. 3, sec. 248 (j), for failure to join members of
the Federal Reserve Board as parties. (Ib.)
FORGED OR ALTERED PAPER
Pleading—Affidavit in lieu of demurrer admits only facts well pleaded. (Practice
act Pa., sec. 20 (Pa. St. 1920, sec. 17200).)
(U. S. C. C. A. 1930.) Affidavit of defense filed in lieu of demurrer, in conformity with practice act, Pennsylvania, sec. 20 (act May 14, 1915, P. L.
486 (Pa. St. 1920, sec. 17200)), does not admit facts in plaintiff's statement
which are not well pleaded or not sufficiently pleaded. (Grange Trust Co.
of Huntingdon, Pa., v. American Surety Co. of New York, 37 Fed. Rep.
(2d series), 479.)
Insurance—Where forged name appeared on note as maker and there was no fraud
or mistake, no recovery could be had under policy covering losses from forgery of
indorser's signature.
(U. S. C. C. A. 1930.) Where forged name appears at end of note on face
thereof as one of joint makers, and note was in common form of judgment
note, and there was no allegation of fraud, accident, or mistake as between
parties to suit or to the note, loss resulting from the forgery was not
within forgery and alteration policy covering loss occasioned by payment
of promissory note upon which signature of any indorser shall have been
forged. (Ib.)
Pleading—Allegation in statement that indorser's nam,e was forged held not admitted
by affidavit in lieu of demurrer, where forged name on note appeared that of joint
maker. (Practice act Pa., sec. 20 (Pa. St. 1920, sec. 17200).)
(U. S. C. C. A. 1930.) In action on bankers' blanket forgery and alteration
policy covering loss resulting from forgery of indorser's signature, allegation
in plaintiff's statement to the effect that the forged name was that of
indorser constituted variance from note, and was not admitted by affidavit
of defense in lieu of demurrer, under practice act, Pennsylvania, sec. 20
(act May 14, 1915, P. L. 486 (Pa. St. 1920, sec. 17200)), where the forged
name appeared on the face of the note as that of joint maker, and where
there was no allegation of fraud, accident, mistake, or ambiguity; parol
evidence to alter the meaning of note being inadmissible. (Ib.)
Accommodation note without consideration.
(U. S. C. C. A. 1930.) Plaintiff executing accommodation note without
consideration, to replace note forged in plaintiff's name, held entitled to
cancellation of note in hands of bank's receiver.
(Forged note purporting to be signed by plaintiff was placed in assets
of bank, and when it became due president of bank, who was personal
friend of plaintiff, induced plaintiff to execute new note, for which plaintiff
received no credit or other consideration, and president guaranteed plaintiff against liability thereon. Plaintiff issued another note of like tenor
when prior note became due, which came into hands of receiver of bank.
Plaintiff was depositor in bank and carried account therein for companies




KEPORT OF THE COMPTROLLER OF THE CURRENCY

183

in which he was interested, but otherwise had no connection with bank
as stockholder, director, or officer.) (Lensing v. Rayzor, 41 Fed. Rep.
(2d series), 224.)
GUARANTY
Courts—General finding in favor of plaintiff, supported by evidence, was not reviewable in appellate court. {28 V. S. C. A. sec. 879.)

(U. S. C. C. A. 1929.) General finding in favor of plaintiff, supported by
evidence, was not subject to review in circuit court of appeals, under 28
U. S. C. A., section 879. (Nye et al. i\ Chase National Bank, 34 Fed.
Rep. (2d series), 435.)
Contracts—Guaranty held enforceable, though it contained invalid stipulation precluding defense, where such stipulation was unnecessary to plaintiff's case.
(U. S. C. C. A. 1929.) Contract of guaranty held enforceable, though it
contained invalid stipulation that guarantors covenanted that they had
no defense whatever to any action, suit, or proceeding at law or otherwise, since such stipulation was unnecessary to plaintiff's case, and valid
provisions of contract were separate and could be enforced. (Ib.)
Contracts—Agreement will be enforced, though incidentally connected with illegal
transaction, provided plaintiff does not require aid of illegal transaction to
make out case.

(U. S. C. C. A. 1929.) An agreement will be enforced, even if it is incidentally or indirectly connected with an illegal transaction, provided it is
supported by an independent consideration or if plaintiff will not require
aid of illegal transaction to make out his case. (Ib.)
INSOLVENCY AND RECEIVERS
EVIDENCE OF INSOLVENCY
ACTIONS BY RECEIVERS
COLLECTIONS OF ASSETS BY RECEIVERS
SALE OF ASSETS BY RECEIVERS
ACTIONS AGAINST RECEIVERS
PREFERENCES IN INSOLVENCY
DEPOSIT OF COUNTY FUNDS
INSOLVENT STATE BANKS:
RECEIVERS APPOINTED BY STATE OFFICERS AND NOT BY COURT
PRIORITY OF CLAIMS OF UNITED STATES
NATIONAL BANK TAKING OVER ASSETS AND ASSUMING LIABILITIES
OF INSOLVENT STATE BANKS
INSOLVENT TRUST COMPANIES
CROSS REFERENCES:
CHECKS—
POWER OF FEDERAL RESERVE BANK TO CHARGE CHECKS TO
ACCOUNT OF DRAWEE BANK NOT REVOKED BY DRAWEE'S
INSOLVENCY
DEPOSITS—
DIRECTOR OF INSOLVENT BANK HELD NOT ENTITLED TO RECOVER
OUT OF BANK'S ASSETS VALUE OF BONDS STOLEN FROM BANK
BY EMPLOYEE
OFFSETS—
OFFSETS BETWEEN INSOLVENT BANKS AND THEIR CUSTOMERS-

Page
183
184
184
185
185
186
190
193
193
194
195

165

175
212

EVIDENCE OF INSOLVENCY

Payment of depositors and creditors in usual and ordinary course of business is
controlling factor in determining solvency of bank.

(U. S. C. C. A. 1930.) Payment of depositors and creditors in usual and
ordinary course of business constitutes controlling factor in determining
solvency of bank, regardless of fact that at some time in the future some
of the assets may possibly be made available and debts paid. (Cronkleton v. Ebmeier, 38 Fed. Rep. (2d series), 748.)
22439°—31
13



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REPORT OF THE COMPTROLLER OF THE CURRENCY

Insolvency of bank is question of fact.
(U. S. C. C. A. 1930.) Whether or not a bank is insolvent constitutes a
question of fact. (Ib.)
. Evidence sustained finding that bank was insolvent at time of receiving deposit.
(U. S. C. C. A. 1930.) Evidence in suit to establish deposit as a preferred
claim against insolvent bank held to sustain finding that bank was insolvent at time deposit was received. (Ib.)
Knowledge of bank}s insolvency on part of officers may be shown by circumstances.
(U. S. C. C. A. 1930.) Knowledge of insolvency of bank on part of officers
may be shown by circumstances without violating rule as to presuming
fraud, in that there is some responsibility on officers and directors of 3
bank to know its financial condition. (Ib.)
Evidence sustained finding that officers of bank had knowledge, at time of receiving
deposit, that bank was insolvent.
(U. S. C. C. A. 1930.) Evidence, in suit to establish deposit as a preferred
claim against insolvent bank, held sufficient to sustain finding that managing officers and directors of bank, at time of receiving deposit, knew
that bank was insolvent. (Ib.)
ACTIONS BY RECEIVERS
COLLECTIONS OF ASSETS BY

RECEIVERS

Receiver of insolvent bank stands in no better position than bank stood in collecting
notes.
(U. S. C. C. A. 1930.) Receiver of insolvent bank stands in no better
position than bank stood as going concern as respects right to collect on
accommodation notes. (Andresen v. Kaercher, 38 Fed. Rep. (2d series),
462.)
Neither bank nor receiver could collect on accommodation notes on theory purpose
was to deceive examiner.
(U. S. C. C. A. 1930.) Neither bank nor its receiver could collect on accommodation notes on theory that there was purpose to deceive examiner,
since court will not lend its assistance in any way towards carrying out
illegal contract, nor will it enforce any alleged rights directly springing
from such contract. (Ib.)
Evidence—Bank which continued as going concern for two years after entering contract is presumed solvent when contract was executed.
(U. S. C. C. A. 1930.) Where bank continued to be going concern for two
years after entering contract under which accommodation notes were
given, its solvency at time contract was executed must be presumed.
(Ib.)
Bank as going concern could take real estate in collecting debts.
(U. S. C. C. A. 1930.) As going concern, bank had full power to collect
debts, and officers could take real estate for this purpose, especially where
reasonable equity in land over incumbrances was nearly double amount
of debt. (Ib.)
Bills and notes—Bank can not enforce accommodation notes executed without consideration.
(U. S. C. C. A. 1930.) Notes executed to bank without consideration and
solely for accommodation can not be enforced if remaining in hands of
bank. (Ib.)
Trial—Where facts are admitted or undisputed and only one conclusion can be
drawn, court must declare that conclusion to jury.
(U. S. C. C. A. 1930.) Where facts are admitted or are undisputed, and
are such that reasonable men can draw but one conclusion from them,
it is duty of court to declare that conclusion to jury. (Ib.)
Trial—Court must instruct verdict where contrary verdict would have to be set aside.
(U. S. C. C. A. 1930.) Where situation is such that, if contrary verdict
were reached, court would be compelled to set it aside, it is duty of court
instruct verdict. (Ib.)
to


REPORT OF THE COMPTROLLER OF THE CURRENCY

185

Bills and notes—In action on accommodation notes, testimony respecting want of
consideration held admissible.
(U. S. C. C. A. 1930.) In action on notes, admission of testimony of defendants as to want of consideration for notes sued on, which were accommodation notes, and as to value of land transferred in payment of
debts, at time accommodation notes were given, held not error. (Ib.)
SALE OF ASSETS BY RECEIVERS

National bank—Liquidation—Sale of assets—Court's power.
(U. S. D. C. 1930.) Court's power respecting sale of assets of national
bank in liquidation by receiver extends no further than to order sale
made on terms and grant or refuse confirmation of sale made and to it
reported. (12 U. S. C. A., sec. 192.)
(12 TJ. S. C. A., sec. 192, provides that receiver in charge of liquidation
of national bank may, on the order of a court of record of competent
jurisdiction, sell all the real and personal property of such banking association on such terms as the court shall direct.) (In re First National
Bank of Billings, 39 Fed. Rep. (2d series), 663.)
National bank—Liquidation—Order of sale—Time.
(U. S. D. C. 1930.) Court order directing sale of assets of national bank
in liquidation must precede sale by receiver. (12 U. S. C. A., sec. 192.)
(Ib.)
National bank—Liquidation—Reopening bids.
(U. S. D. C. 1930.) Bids for assets of national bank in liquidation could
not be reopened for a trifling advance of less than one-half of 1 percent
to creditors. (Ib.)
ACTIONS AGAINST RECEIVERS

Removal of causes—Action against receiver of national bank having to do with winding
up of affairs is removable to Federal court. (28 U. S. C. A., sees. J^l (16), 71.)
(TJ. S. C. C. A. 1929.) An action against the receiver of national bank
having to do with winding up of affairs of such bank is within Federal
jurisdiction in accordance with provisions of 28 U. S. C. A., section 41 (16),
and removable from State court by virtue of section 71. (Fleming et al. v.
Gamble, 37 Fed. Rep. (2d series), 72.)
Corporations—Those claiming note executed by corporation was ultra vires had
burden of proof.
(U. S. C. C. A. 1929.) Note executed by corporation was presumably a
valid act, with burden on those attacking it as ultra vires of pleading and
proving facts showing it to be beyond powers of corporation. (Ib.)
Corporations—Courts will not grant relief concerning note executed by corporation
after payment thereof.
(U. S. C. C. A. 1929.) Where note executed by corporation was paid and
transaction closed, courts will not grant relief concerning it on ground it
was ultra vires. (Ib.)
Pleading—Judgment on pleadings insufficient to sustain different judgment is
generally proper.
(U. S. C. C. A. 1929.) Generally a judgment on the pleadings is proper,
where they are insufficient to sustain a different judgment. (Ib.)
Pleading—Well-pleaded allegations by opposite party are to be taken as true in
determining judgment on pleadings.
(U. S. C. C. A. 1929.) Allegations made by opposite party, in so far as
they are well pleaded, are to be taken as true in determining whether
judgment on pleadings should be entered. (Ib.)
Bills and notes—Bank's payment of note executed by stockholders was sufficient
consideration for note of accommodation maker to bank.
(U. S. C. C. A. 1929.) Payment by bank of note executed by stockholders
as guaranty of payment was sufficient consideration to bind accommodation maker on note, regardless of whether there was direct consideration
to maker. (Ib.)




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REPORT OF THE COMPTROLLER OF THE CURRENCY

Bills and notes—Accommodation note is binding, where consideration is given to
another party.

(U. S. C. C. A. 1929.) An accommodation note is binding obligation, where
consideration was given to another party, regardless of whether there was
direct consideration between parties thereto. (Ib.)
PREFERENCES IN INSOLVENCY

Bank selling note and mortgage, paid for by check on another bank, became trustee,
obligated to preserve intact and account to customer for trust fund.

(U. S. C. C. A. 1930.) Bank selling note and mortgage to customer, who
paid amount thereof by check on another bank, was not such customer's
creditor, as in case of ordinary depositors, but a trustee, owing obligation
to preserve trust fund intact and account to customer therefor. (Blumenfeld v. Union Nat. Bank of Beloit, Kans., et al., 38 Fed. Rep. (2d series),
455.)
One claiming preference for amount paid insolvent bank for note and mortgage
wrongfully appropriated by it was bound to trace fund into assets or specific
property held by receiver.

(U. S. C. C. A. 1930.) It was incumbent on one claiming preference against
assets of bank in hands of receiver for amount paid bank for note and
mortgage wrongfully appropriated by it to trace fund into assets taken
over by receiver or some specific property held by him by proof that fund
was kept by bank in cash or substituted property at all times after its
receipt and not dissipated. (Ib.)
Insolvent bank, in which sufficient amount remains to cover trust fund, is presumed
to have made authorized payments from other funds.

(U. S. C. C. A. 1930.) Where sufficient amount remains in insolvent bank
to cover a trust fund, it is presumed that bank first made payments it had
right to make from other funds in disposing of its money from time to
time. (Ib.)
To establish preference, it is insufficient to trace trust fund into insolvent bank and
show that its cash or equivalent on its failure exceeded claim.

(U. S. C. C. A. 1930.) To establish a preference against an insolvent bank's
assets for a trust fund, it is insufficient to trace fund into bank and show
that its cash or equivalent on its failure exceeded beneficiary's claim. (Ib.)
Trusts—Wholly depleted trust fund can not be treated as reappearing in subsequent
accumulations.

(U. S. C. C. A. 1930.) A trust fund, which is wholly depleted at any time,
can not be treated as reappearing in subsequent accumulations. (Ib.)
Trusts—Claimant of trust fund must identify it.
(U. S. C. C. A. 1930.) A claimant of a trust fund has the burden of identifying it. (Ib.)
One purchasing note and mortgage from insolvent bank wrongfully appropriating
them and proceeds of sale of mortgaged land held not entitled to preference, in
absence of evidence of amount remaining in bank from time it acquired fund until
receiver took charge.

(U. S. C. C. A. 1930.) One purchasing note and mortgage from insolvent
bank, which wrongfully appropriated them and turned proceeds from
partition sale of mortgaged land into its assets, held not entitled to preferential payment of amounts paid therefor, in absence of evidence of amount
of money remaining in bank from time it acquired trust fund until receiver
took charge. (Ib.)
Appeal and error—Fact intimated in lower court's opinion, but not appearing in
evidence brought to appellate court, can not be considered.

(U. S. C. C. A. 1930.) A fact not appearing in the evidence brought to the
Circuit Court of Appeals is not entitled to consideration, though intimated
in the opinion of the court below. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

187

Appeal and error—Denial of rehearing to show that amount of insolvent bank1 s credit
in correspondent bank at date of receivership exceeded trust fund held not prejudicial
to owner claiming preference,

(U. S. C. C. A. 1930.) In absence of showing that correspondent bank of
bank in hands of receiver had not disbursed trust fund, which receiver
stated was deposited in former bank, or that owner thereof would be able
to show it had not done so, denial of rehearing to receive evidence as to
greater amount of insolvent bank's credit in correspondent bank at date
of receivership was not prejudicial to owner claiming preference against
insolvent bank's assets for amount of such fund. (Ib.)
Claim against bank as trustee is established if credits can be traced to receiver.

(U. S. C. C. A. 1930.) In proceeding to impress trust on funds of insolvent
bank, it is not necessary to trace coin or currency belonging to claimant,
but it is sufficient if credits can be traced into receiver's hands. (Washington Loan & Banking Co. v. Fourth National Bank of Macon et al, 38
Fed. Rep. (2d series), 772.)
Proceeds of drafts sent bank for collection were sufficiently traced into receiver's
hands, where credited by correspondent and no withdrawals had been made.

(U. S. C. C. A. 1930.) If proceeds of drafts sent to insolvent bank for
collection and transmitted by it to other bank went into general account
of insolvent bank with its correspondents and had not been withdrawn,
customer bank seeking to establish trust on funds of insolvent bank as to
proceeds of the drafts sufficiently traced proceeds into hands of insolvent
bank's receiver, so that receiver was required to account. (Ib.)

Contract determines relationship of bank to draft turned over to it.

(U. S. C. C. A. 1930.) Relationship of bank to draft or check turned over
to it by customer depends on their contract respecting it, and contract may
appear in form of indorsement or otherwise. (Ib.)
Bills and notes—Notice is earned to all persons dealing with paper of contract
between customer and bank only if contract appears from indorsement.

(U. S. C. C. A. 1930.) If contract between bank and customer turning over
draft or check is in form of indorsement, notice is carried to all persons
dealing with the paper, but otherwise not. (Ib.)
Statute and banking customs may influence contract between customer and bank.

(U. S. C. C. A. 1930.) Contract between bank and customer turning over
paper to bank may be influenced or controlled by statute and local and
general banking customs. (Ib.)
Bank indorsing drafts in blank, with letter to another bank stating indorsement was
for collection and credit or prompt return if unpaid, made collecting bank agent
and became general creditor only when proceeds were made available to it.

(U. S. C. C. A. 1930.) Where bank sending drafts to another bank for
collection sent letter which stated that each draft was indorsed for collection first and for credit after its collection or prompt return if unpaid,
ownership of drafts remained in the customer bank, and collecting bank
and its correspondents were merely agents for collection, and agency
ceased and relationship of general depositor began only when collection
had been made and the collecting bank, having the proceeds of drafts
made available to it, in turn made them available to its customer by passing them to customer's checking account, and fact that drafts were indorsed in blank and were immediately posted to credit of customer bank
did not create debtor-creditor relation prior to effecting the collection.
(Ib.)
Where correspondent made proceeds of drafts immediately subject to check, collecting bank after reasonable time for notice must permit checking against fund by
customer.

(U. S. C. C. A. 1930.) Bank to which drafts were sent for collection, which
sent them on to correspondent bank where proceeds were thereafter subject
to check, was bound, after reasonable time for notice of draft's collection
or its return in default of collection, to assume that collection had been
made and to permit checking by customer bank, in determining whether
funds collected were held in trust for customer bank on insolvency of
collecting bank. (Ib.)




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REPORT OF THE COMPTROLLER OF THE CURRENCY

Customer had preferred claim for drafts sent bank for collection where drafts were
collected but proceeds were not made available to bank.

(U. S. C. C. A. 1930.) Where collections on drafts sent bank were not made
available to bank because of failure to notify correspondent of bank, the
collections were incomplete and the drafts sent to the bank for credit, if
collected, remained the property of bank's customer, giving customer
right to preferred claim against bank for proceeds. (Ib.)
Customer sending drafts to bank for collection which transmitted them to correspondent, receiving credit, became general depositor as to collections, compeleted in
sufficient time to notify bank before its failure.

(U. S. C. C. A. 1930.) Where bank to which drafts were sent for collection
in turn sent them to correspondent where proceeds were entered to credit
of first bank and subject to its check, collections, made in sufficient time
for notice to have been given first bank before its failure, became general
deposits of customer, precluding claim against bank's receiver for preference, unless by earlier knowledge of bank's insolvency officers were precluded from accepting such proceeds as deposits. (Ib.)
Assignments—Where drawer bank closed before drawee bank opened letter containing
check, receiver was entitled to funds as against payee.

(U. S. C. C. A. 1929.) Where claimant had on deposit with bank, which
later closed, more than $4,000, and requested bank to transmit $4,000 to
its deposit account in C. bank, and bank mailed check on C. bank, as
requested, for credit to claimant's account, but first bank closed before
C. bank opened letter containing check, receiver of closed bank was
entitled to sum C. bank paid into court as against claimant, since claimant,
as payee of check, could have no right of action on it against C. bank until
latter had accepted it. (Wrightsville & T. R. Co. v. Citizens' & Southern
National Bank et al.; Whitman v. Bragg, Millsaps & Blackwell, Inc.,
36 Fed. Rep. (2d series), 736.)
Assignments—Where draft was to be paid from special funds, and drawee traced
proceeds into collecting bank receiver's hands, proceeds belonged to drawer.

(U. S. C. C. A. 1929.) B., principal of drawee of claimant's draft, drew
draft in order to provide funds with which to pay claimant's draft, and
gave collecting bank check for amount of draft. After payment of B.'s
draft was received by F. bank, collecting bank accepted B.'s check for
amount of claimant's draft and mailed its own check to claimant for like
amount, but failed before check was paid. Claimant showed that proceeds of his draft, at time of collecting bank's failure, were in F. bank,
and that it subsequently came into hands of collecting bank's receiver.
Held that, since circumstances showed collecting bank treated proceeds of
B.'s draft as special funds out of which claimant's draft was to be paid,
there was equitable assignment, and money belonged to claimant. (Ib.)

Equity—Doctrine of equitable assignment rests on maxim that equity regards as
done that which should be done, and under doctrine effect will be given intention of
parties to contract to make particular property security for debts.

(U. S. C. C. A. 1929.) Doctrine of equitable assignment or liens rests on
maxim that equity regards as done that which ought to be done, and under
it effect will be given to intention of parties to contract to make some
particular property or fund security for debt or other obligation. (Early
& Daniel Co. v. Pearson; Pearson v. Summey & Tolson; Farmers' National
Bank of Monticello et al. v. Pearson, 36 Fed. Rep. (2d series), 732.)
Assignments—To make equitable assignment doctrine applicable, fund must be
identified or capable of identification.

(U. S. C. C. A. 1929.) In order to make doctrine of equitable assignment
or liens applicable, it is necessary that property or fund be identified or
rendered capable of identification. (Ib.)
Assignments—It is sufficient if property is in existence during time within which
equitable assignment may operate.

(U. S. C. C. A. 1929.) It is not essential, in order to make doctrine equitable
assignment or liens applicable, that property or fund be in existence at
time contract was made, but it is sufficient if it is in existence during time
within which assignment may operate. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

189

Trusts—Cestui que trust has right to property mingled with trustee's property, which
may be identified in original or substituted form.

(U. S. C. C. A. 1929.) Right of cestui que trust to property which has
become mingled with trustee's property continues to exist so long as it is
possible to identify property of cestui que trust, either in original or
substituted form, but ceases to exist, and trust is destroyed, when trust
property has become so intermingled with general property of trustee
that it can no longer be traced and identified, and, in case of an insolvent
trustee, cestui que trust occupies no better position than that of general
creditor. (Ib.)
Assignments—Check does not constitute equitable assignment pro tanto of indebtedness owing by bank.

(U. S. C. C. A. 1929.) Check drawn in ordinary form does not, as between
maker and payee, constitute equitable assignment pro tanto of indebtedness owing by bank on which check has been drawn. (Ib.)
Assignments—Where parties agree check should be satisfied out of specified fund,
equity court will carry agreement into effect against drawer, volunteers, and parties
charged with notice.

(U. S. C. C. A. 1929.) Where, in transaction connected with delivery of
check, it was understanding and agreement of parties that advance about
to be made should be charge on and be satisfied out of specified fund,
court of equity will lend its aid to carry such agreement into effect as
against drawer of check, mere volunteers, and parties charged with
notice. (Ib.)
Where bank mingled proceeds of draft with general mass of unidentified bank funds,
drawer had no preferred claim.

(U. S. C. C. A. 1929.) Where drawer sent draft for collection to bank,
which later closed, and draft contained provision that funds obtained
through collection should not be commingled with other funds of collecting
bank, but proceeds of draft were mingled with and became part of general
mass of unidentified funds of bank, drawer's claim was no better than
that of general creditor. (Ib.)
Where proceeds of draft were traceable into balance another bank paid to collecting
bank's receiver, drawer could recover amount of draft from receiver.

(U. S. C. C. A. 1929.) Where drawer sent draft to bank, which later closed,
for collection and remittance to another bank for drawer's credit, and
drawee gave in payment of draft his check on C bank, and proceeds of
draft were traceable into balance with C bank, after collecting bank's
failure, paid to receiver, receiver came into possession of identified fund,
which belonged, not to failed bank, but to drawer, and he was entitled to
judgment against receiver for amount of draft thus obtained. (Ib.)
Assignments—Where M bank, later closing, agreed with depositing banks to arrange
with reserve bank to credit their checks to their reserve accounts immediately and
charge M bank's reserve account, there was equitable assignment.

(U. S. C. C. A. 1929.) Where M bank, which later closed, agreed with
depositing banks to make arrangements with Federal reserve bank to
credit all checks of depositing banks drawn on it to reserve account of
drawer, and charge them to reserve account of M bank immediately on
receipt of such checks by Federal reserve bank, and agreed to maintain on
deposit with Federal reserve bank sufficient funds to cover checks of depositing banks, and Federal reserve bank agreed to such plan, and at time
of M bank's failure it had on deposit with Federal reserve bank sufficient
funds to pay checks of depositing banks, there was an equitable assignment to such banks of funds of M bank in Federal reserve bank at time
of M bank's failure. (Ib.)
Holder of cashier's check not entitled to preference where bank refused payment
because of insolvency.

(U. S. D. C. 1930.) Holder of cashier's check held not entitled to preference
where bank refused payment because of insolvency. (The holder of the
check and the bank were in the relation of debtor and creditor, but preference would have been given to company which made deposit and received
cashier's check in return because bank was insolvent at the time with the




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REPORT OF THE COMPTROLLER OF THE CURRENCY
knowledge of two vice presidents whose fraud caused the insolvency and
whose knowledge became the knowledge of the bank.)
General rule is cashier's check is merely evidence of debt of bank, and
holder is not entitled to preference on bank's insolvency before check is
cashed. (Charleroi Supply Co. v. Kelly, 40 Fed. Rep. (2d series), 297.)

Claimants held to have only partially traced trust funds, as against receiver representing general creditors of insolvent national bank; claimants tracing trust funds
held entitled to preference, as against receiver representing general creditors of
insolvent national bank.

(Neb. Sup. 1929.) Evidence examined, and held, that claimants, as against
the defendant receiver representing the general creditors of an insolvent
national bank, have traced "trust funds" involved in this controversy,
to the extent of $2,520.73 only, into assets coming into the possession and
under the control of such receiver, and that they are entitled, as to such
sum, to an order granting them a preference thereto. (Gering, County
Treasurer, v. Buerstetta et al., 223 N. W. Rep. 625.)
Claimants, tracing trust funds after insolvency of national bank, were not entitled to
recover interest.

(Neb. Sup. 1929.) Under the facts in this case, claimants are not entitled
to interest on and after December 14, 1926. (Ib.)
Cashier of insolvent bank, made party to proceeding to establish preference, was
entitled to jury trial. (Const, art. 1, sec. 6.)

(Neb. Sup. 1929.) As to defendant George O. Dovey, the issues in this case
were properly triable by a jury and the court erred in overruling his
application and demand therefor. (Ib.)
Depositor may rescind deposit received by insolvent national bank with knowledge
that it can not pay its debts.

(Neb. Sup. 1929.) Where national bank, being insolvent, receives a deposit
with knowledge that it can not pay its debts and must fail in business,
depositor may rescind for fraud and reclaim the deposit, or its proceeds,
out of funds, if traced into specific assets of insolvent bank coming into
hands of receiver. (Ib.)
Public funds, deposited by county treasurer without authority of law in national
bank, with full knowledge of facts, constitute trust fund.

(Neb. Sup. 1929.) Where public funds, deposited by county treasurer
without authority of law and in express violation of its inhibitions, are
received by a national bank with full knowledge of the facts, they constitute a trust fund, and can be recovered as such. Goss, circuit judge,
and Rose, judge, dissenting. (Ib.)
DEPOSIT OF COUNTY FUNDS

Vice president's authority to obtain county deposit implied authority to pledge notes
by bank to security deposit.

(U. S. C. C. A. 1929.) Where vice president of national bank was expressly
authorized to obtain deposit of county funds, authority carried by necessary implication power to give security necessary to obtain deposit, and
hence pledging of notes held by bank as security for county deposit was
not void because not authorized by directors and beyond powers of vice
president. (Burrowes v. Nimocks, County Treasurer, 35 Fed. Rep.
(2d series), 152.)
Pledge of notes by bank as temporary security for county deposit pending reduction
of deposit to save bond premiums held reasonable exercise of authority to give
security.

(U. S. C. C. A. 1929.) Where vice president of bank was expressly authorized to obtain deposit of county funds and had implied authority to give
security for deposit, pledging of notes by bank as temporary security
pending reduction of deposit so as to save premiums on large bond was
reasonable exercise of authority. (Ib.)
Acquiescence by bank directors in temporary pledge of notes to secure county deposit
ratified pledge.

(U. S. C. C. A. 1929.)

 county deposit
for


Where notes held by bank were pledged as security
pending reduction of deposit to save premiums on

REPORT OF THE COMPTROLLER OF THE CURRENCY

191

large bond, acquiescence of board of directors of bank in what had been
done when matter was called to their attention at meeting of board was
sufficient ratification of pledge of notes. (Ib.)
Pledge of notes by bank to secure county deposit, which was analogous to call loan by
vice president having inherent authority to obtain loan and pledge notes, held
authorized.

(U. S. C. C. A. 1929.) Active vice president as managing officer of bank
had authority without special authorization to obtain loan to bank and to
pledge notes which it held as security for loan, and hence pledge of notes
to secure county deposit required to be secured by law, which was analogous to call loan to bank rather than ordinary deposit, was not void as
beyond powers of vice president. (Ib.)
Executive officer of bank without special authority may rediscount bank's paper or
otherwise borrow money.

(U. S. C. C. A. 1929.) Executive officer of bank may in usual course of
business and without special authority rediscount its paper and otherwise
borrow money for its use. (Ib.)
Setting aside of notes by bank to secure county deposit created equitable pledge between
parties, and subsequent delivery of notes validated pledge against receiver and
persons not acquiring intervening rights.

(U. S. C. C. A. 1929.) Where bank agreed to set aside notes as security for
county deposit until deposit was reduced and bond provided, and notes
were actually set aside and marked in good faith when there was no question as to solvency of bank, and it was agreed that notes should be delivered
to county treasurer on his demand at any time, and bank could withdraw
note only by putting up another of equal value, there was created, before
delivery of notes to county treasurer, an equitable pledge of notes, which
was good in equity between parties, and delivery of notes when occurring
related back to original contract of pledge and rendered it valid at law
between parties and against receiver of bank and persons who had not in
meantime acquired title to or lien on subject of pledge. (Ib.)
Pledge of notes to secure county deposit, made before question of bank's solvency arosey
and completed by delivery to treasurer on bank's insolvency, held valid against
bank's receiver. (12 U. 8. C, A.} sec, 91.)

(U. S. C. C. A. 1929.) Where bank set aside notes as security for county
deposit and agreed to deliver notes to county treasurer on demand, and
could not withdraw note without substituting another of equal value, and
agreement of pledge was made when there was no question as to solvency
of bank, though delivery of notes was made when bank was on verge of
insolvency, county treasurer to whom notes were delivered had equitable
lien on notes, which was good in equity against bank and its receiver, and
was not void under Revised Statutes, section 5242 (12 U. S. C. A., sec.
91), avoiding transfers made in contemplation of insolvency. (Ib.)
Pledges—Pledge requires delivery which need not be contemporaneous with contract,
but, if subsequently made, relates back to contract.

(XL S. C. C. A. 1929.) Pledge is not good at law without delivery, but delivery
need not be contemporaneous with contract of pledge, and, if made subsequently, it relates back to contract and gives it validity. (Ib.)
Statute avoiding preferential transfers in contemplation of insolvency does net constitute receiver purchaser for value or give him lien on property in possession of
insolvent bank. {12 U. S. C. A., sec. 91.)

(U. S. C. C. A. 1929.) Revised Statutes section 5242 (12 U. S. C. A., sec.
91), avoiding preferential transfers made in contemplation of insolvency,
does not constitute receiver purchaser for value or give receiver any lien on
property in possession of insolvent bank, but receiver takes bank subject
to all claims and defenses which might have been asserted against it. (Ib.)
Bankruptcy-lien good between parties, though not against lien creditors for lack of
registration or possession, is valid against trustee in bankruptcy on registration
or taking of possession before bankruptcy. (Bankr. act (11 U. S. C. A.).)

(U. S. C. C. A. 1929.) Under bankruptcy act (11 U. S. C. A.), giving trustee
in bankruptcy rights of creditor holding lien on property coming into his
possession and rights of judgment creditor with execution returned unsatis-




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REPORT OF THE COMPTROLLER OF THE CURRENCY
fied as to other property where lien is good as between parties but because
of lack of registration or possession is not good against lien creditors, registration of lien or taking of possession of property before bankruptcy will
render it valid as against trustee in bankruptcy, and will not be held to be
obtaining of a preference. (Ib.)

Creditor of national bank holding lien on securities does not create "preference" by
taking securities. {12 U. S. C. A., sec. 91.)

(U. S. C. C. A. 1929.) Creditor of national bank holding lien on securities
does not create " preference," within meaning of Revised Statutes section
5242 (12 U. S. C. A., sec. 91), by taking securities into his possession. (Ib.)
Court must carefully scrutinize evidence in insolvency case, where reliance is placed on
equitable lien.

(U. S. C. C. A. 1929.) In case of insolvency, where reliance is placed on
equitable lien, court is under duty to scrutinize evidence with great care.
(Ib.)
Bank pledging notes to secure county deposit must be held to have received general
assets equal to lien on notes.

(U. S. C. C. A. 1929.) Where county funds were deposited and left w^ith
bank on understanding that sufficient notes held by bank were to be assigned
as security for same, bank must be held to have received and retained general assets as result of agreement to pledge notes in amount equal to lien
created on notes. Northcott, circuit judge, dissenting. (Ib.)
Judgment—Pleadings and facts found held to support judgment for bank suing
county for borrowed money.

(U. S. C. C. A. 1929). In action, by bank against county for borrowed
money, pleadings and facts found held to support judgment for bank
where they showed county borrowed money, used it, and had not repaid
it. (State Bank of New York et al. v. Henderson County, Ky., 35 Fed.
Rep. (2d series), 859.)
Appeal and error.—Whether pleadings and facts found support judgment is only
question for review on general exception to findings and conclusions and judgment as whole.

(U. S. C. C. A. 1929.) On exception "to each of the findings of fact, conclusions of law, and to the judgment as a whole" no review question is
open, except question whether pleadings and facts found support judgment. (Ib.)
Appeal and error.—Bill of exceptions showing defendant's motion for judgment
at conclusion of evidence and exception to denial thereof presents reviewable
question.

(U. S. C. C. A. 1929.) Bill of exceptions showing that at conclusion of all
evidence defendant moved for judgment and excepted to denial of its
motion held to present reviewable question. (Ib.)
Counties.—Resolution of fiscal court authorizing execution of note for county carried
authority to include conventional recital that acts were legal.

(U. S. C. C. A. 1929.) Resolution of fiscal court giving authority to execute
note for county would carry authority to make conventional recital that
necessary acts had been done, that note was within debt limit prescribed,
and that faith and credit of county was irrevocably pledged to payment.
(Ib.)
Estoppel.—Where fiscal court by resolution duly signed directed renewal of note
containing recitals that limit of county's indebtedness was not exceeded thereby,
county was estopped to assert defense that constitutional indebtness was exceeded.

(U. S. C. C. A. 1929.) County held estopped to make defense to note on
ground that it exceeded constitutional debt limit, where recitals in notes
declared such limit was not exceeded, regardless of whether county judge
signed resolution of fiscal court authorizing execution of note, where fiscal
court by resolution duly signed directed county judge to renew note, and
renewal note contained same recitals. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

193

Appeal and error.—Refusal of new trial for newly discovered evidence will he reviewed only to determine whether there was clear abuse of discretion.
(U. S. C. C. A. 1929.) Assignment that refusal to grant new trial on ground
of newly discovered evidence was error can be considered only far enough
to determine whether refusal involved clear abuse of discretion. (Ib.)
INSOLVENT STATE BANKS
RECEIVERS APPOINTED BY STATE OFFICERS AND NOT BY COURT

Court should interfere with supervision by authorized official over affairs of insolvent
State bank only in perfectly clear case.
(U. S. C. C. A. 1930.) Court should interfere with supervision by authorized official over affairs of insolvent State bank only in perfectly clear
case. (Bank of Bay Biscayne et al. v. Hankins et al., 42 Fed. Rep. (2d
series), 209.)
Court can not appoint receiver to control assets of insolvent State bank.
(XL S. C. C. A. 1930.) Order appointing receiver to control assets of insolvent State bank, in place of comptroller acting under statutory authority,
held unwarranted. (Comp. Gen. Laws Supp. Fla. 1930, sec. 6102 et
seq.) (Ib.)
PRIORITY OF CLAIMS OF THE UNITED STATES

When United States is entitled to priority in payment of claim against insolvent
debtor.
(U. S. D. C. 1930.) United States is entitled to priority in payment of
claim against insolvent debtor, who committed act of bankruptcy, when
estate is in control of liquidating officer. (31 U. S. C. A. sec. 191.)
Revised Statutes, section 3466 (31 U. S. C. A., sec. 191), provides that
whenever any person indebted to the United States is insolvent, debts
due the United States shall be first satisfied, and priority established
shall extend as well to cases in which an act of bankruptcy is committed.
(United States v. Bliss, 40 Fed. Rep. (2d series), 935.)
/ / State bank commits act of bankruptcy it thereby gives United States priority in
payment of claim.
(U. S. D. C. 1930.) State bank, though exempt from operation of bank• ruptcy act, may commit act of bankruptcy, thereby giving United States
priority in payment of claims. (31 U. S. C. A., sec. 191.) (Ib.)
Taking over of insolvent u
State bank by banking department and subsequent appointment of receiver held act of bankruptcy11 entitling claims of United States to
priority in payment.
(U. S. D. C. 1930.) Taking over of insolvent State bank by banking department and subsequent appointment of receiver held "act of bankruptcy"
entitling claims of United States to priority in payment (Bankr. act sec.
3 (a), as amended by act May 27, 1926, sec. 3 (11 U. S. C. A., sec. 21); 31
U. S. C. A., sec. 191; Laws Neb. 1923, ch. 191, sees. 11, 18, 20, and 32,
as amended by Laws Neb. 1925, ch. 30, sees. 1, 4-6).
(At time Nebraska Department of Trade and Commerce took possession of State bank under Laws Neb. 1923, ch. 191, as amended by Laws
Neb. 1925, ch. 30, bank was insolvent. Bankruptcy act sec. 3 (a), as
amended by act May 27, 1926, sec. 3 (11 U. S. C. A., sec. 3 (a), makes it
an act of bankruptcy if, while insolvent, a receiver or trustee has been
appointed or put in charge of property.) (Ib.)
Priority of United States to payment of claim can not be subordinated to priority
claims of bank depositors under State law.
(U. S. D. C. 1930.) Priority of United States to payment of claim can not
be subordinated to priority claims of bank depositors under State law
(31 U. S. C. A., sec. 191; Laws Neb., 1925, ch. 30, sec. 12, amending Laws
Neb., 1923, ch. 191, sec. 24). (Ib.)




194

REPORT OF THE COMPTROLLER OF THE CURRENCY

Priority given United States for payment of claim against insolvent debtor can not
be impaired by State law.

(XL S. D. C. 1930.) Priority given United States for payment of claim
against insolvent debtor can not be impaired by State law. (31 U. S.
C. A., sec. 191.) (Ib.)
NATIONAL BANK TAKING OVER ASSETS AND ASSUMING LIABILITIES OF INSOLVENT
STATE BANKS

Appeal and error—Trial court's decision as to legal result flowing from undisputed
facts was reviewable on appeal.

(U. S. C. C. A. 1929.) Where facts were not disputed, trial court's decision
as to legal resultflowingfrom such facts was subject to review on appeal.
(Weicker v. Bromfield, 34 Fed. Rep. (2d series), 377.)
Attorney and client—Knowledge of conditions under which notes in litigation were
made, possessed by bank's officers, directors, attorney, and national bank examiner,
held knowledge of bank.

(U. S. C. C. A. 1929.) Knowledge of conditions on which notes in litigation
were executed and delivered to bank, possessed by bank's officers, its
attorney, a majority of its directors, and national bank examiner, who
participated in agreement under which notes were made, was knowledge
of the bank. (Ib.)
Bills and notes—Purchaser for value can not take negotiable paper freed from conditions attached known to him.

(U. S. C. C. A. 1929.) Even a purchaser for value can not take negotiable
paper freed from conditions attached and which he knows all about. (Ib.)
National bank taking over 1
assets and assuming liabilities of insolvent bank could not
recover on notes of latter s stockholders and directors without performing conditions
on which notes were executed.

(U. S. C. C. A. 1929.) Where national bank took over assets and assumed
liabilities of insolvent State bank under agreement to incorporate a new
trust company to take over both, banks, and that directors and stockholders of insolvent bank would put up $186,000 to replenish assets of
insolvent bank, for which they were to receive approximately $700,000
face value of notes and securities then belonging to insolvent bank which
bank examiner had criticized, and also 172 shares of stock in the new trust
company, held that national bank, after receiving such notes with knowledge of the agreement, could not collect on such notes without performing
its obligations under agreement. (Ib.)
Evidence—Undisputed testimony respecting negotiations leading to execution of
notes must be accepted as true, wKere adverse party's officers who participated in
transactions were in court.

(U. S. C. C. A. 1929.) Where testimony of counsel for makers of notes
involved in litigation as to negotiations leading up to agreement under
which notes were executed and delivered was undisputed, though officers
of adverse party who participated in negotiations and transactions were
in the court room, his evidence must be accepted as true. (Ib.)
Agreement modifying previous agreement for bank's taking over assets and assuming
liabilities of insolvent bank merged all prior agreements and fixed rights of parties.

(U. S. C. C. A. 1929.) Where, after national bank took over assets and assumed liabilities of insolvent state bank, officers and directors of which
put up their individual notes to replenish its assets, and after national
bank refused to perform conditions on which, notes were delivered to it,
further negotiations were had resulting in agreement, part of which was a
written contract signed by both banks and approved by officers and directors of insolvent bank, modifying original contract and stating further
conditions under which notes were delivered and how makers should be
reimbursed out of criticized securities of insolvent bank, held that said
later agreement merged all prior agreements and alone fixed rights of
parties. (Ib.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

195

Contracts—Party in substantial default may not hold other party to his contract.
(U. S. C. C. A. 1929.) It is fundamental rule of contract law that one party,
itself in substantial default, may not hold the other party to his contract.
(Ib.)
Failure of bank which took over assets of insolvent bank to perform conditions under
which notes of insolvent bank's stockholders and directors were delivered to it
constituted defense to liability on notes.
(U. S. C. C. A. 1929.) Where, after national bank took over assets and assumed liabilities of insolvent State bank, officers and directors of which put
up their individual notes to replenish its assets, and after national bank
refused to perform conditions on which notes were delivered to it, new
contract was made whereby makers ratified delivery of notes to national
bank in consideration of its agreement to deliver to insolvent bank certain
doubtful securities turned over to it by insolvent bank and to deliver to
insolvent bank certain other securities after certain collections thereon
were made, to consult and notify certain persons as to handling of such
securities, and pay all indebtedness of insolvent bank, national bank's
failure to perform any of its agreements and conversion of securities agreed
to be turned over constituted defense to makers' liability on notes. (Ib.)
Makers, by alleging breach of conditions under which notes were delivered and praying
money judgment, abandoned other claims.
(U. S. C. C. A. 1929.) Where makers of notes executed to replenish assets
of insolvent bank, which were taken over by national bank, and who paid
notes, negotiated to purchasers for value before maturity, in litigation
respecting such notes, alleged breach of national bank's agreement and of
conditions under which notes were delivered, and prayed money judgment
for breach of contract, they abandoned any claim to securities of insolvent
bank which national bank agreed to deliver for such notes and were not
entitled to any lien on general assets or any preference over depositors of
national bank on its subsequent insolvency. (Ib.)
INSOLVENT TRUST COMPANIES
u

Bankruptcy— Banking corporations"—Banking business—Authorization.
(XL S. C. C. A. 1930.) "Banking corporations," as used in bankruptcy law,
means those corporations authorized by laws of their creation to do banking
business (Bankr. act, sec. 4, as amended (11 U. S. C. A. sec. 22)). (Gamble
v. Daniel; Greenfield v. Peters Trust Co., 39 Fed. Rep. (2d series), 447.)
Bankruptcy—tlBanking business"—Necessary element—Receipt of deposits.
(U. S. C. C. A. 1930.) Necessary element of "banking business" in law excepting banking corporations from bankruptcy is receipt of deposits for
use in business. (Bankr. act, sec. 4, as amended (11 U. S. C. A. sec. 22).)
db.)
Bankruptcy—Trust company—State law—Banking corporations.
(TJ. S. C. C. A. 1930.) Trust company organized under State law was not
"banking corporation" within meaning of State law or bankruptcy law,
and was subject to bankruptcy. (Comp. St. Neb. 1922, sees. 7982-8051,
8063-8082; Bankr. act, sec. 4, as amended (11 U. S. C. A. sec. 22).)
(Comp. St. Neb. 1922, sees. 7982-8051, relating to organization, powers,
regulation, and dissolution of banking corporations divides banks into three
classes, commercial banks, cooperative banks, and savings banks, and
clearly shows that some form of deposits was contemplated as integral
part of business of banks. Sections 8063-8082, relating to trust companies and dealing with organization, power, regulation, and dissolution
of such corporations, though conferring most of powers usually exercised
by a bank, expressly forbids any trust company to conduct business of
banking). (Ib.)
Bankruptcy—Summary jurisdiction—Dispute as to title—Possession.
(U. S. C. C. A. 1930.) Criterion of summary jurisdiction of bankruptcy
court in case of dispute as to title or interest in property is possession at
time bankruptcy petition is filed. (Bankr. act, sees. 2 (3) (7), 23, 60 (b),
67 (e), 70 (e); 11 U. S. C. A. sees. 11 (3) (7), 46, 96 (b), 107 (e), 110 (e).)
(Ib.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY

Bankruptcy—Summary jurisdiction—Adverse possession—State official.
(U. S. C. C. A. 1930.) Bankruptcy court had summary jurisdiction to
determine whether property of trust company was adversely held by official
of state department. (Bankr. act, sees. 23, 60 (b), 67 (e), 70 (e); 11 U. S.
C. A., sees. 46, 96 (b), 107 (e), 110 (e); Laws Neb. 1929, ch. 38.)
(The books, accounts, and all property owned or held by the trust
company were turned over to the state department of trade and commerce
pursuant to a decree declaring the trust company to be insolvent, and that
its business should be forthwith wound up by the department of trade and
commerce of the State of Nebraska as liquidating agent, subject to orders
of court, as provided by Laws Neb. 1929, ch. 38. Subsequently the trust
company was adjudicated a bankrupt pursuant to petition of creditors
and a receiver appointed, who, after failure to secure delivery of property,
petitioned the bankruptcy court to require the State officer to deliver
property to him.) (Ib.)
Bankruptcy—Liquidating agent—Adverse holder—Summary order.
(U. S. C. C* A. 1930.) Liquidating agent of trust company under State law
was not adverse holder, and could be required by summary order to turn
over property to bankruptcy receiver. (Comp. St. Neb. 1922, sec. 8077,
as amended by Laws 1927, ch. 35, sec. 3.)
(Comp. St. Neb. 1922, sec. 8077, as amended by Laws 1927, ch. 35, sec.
3, provided that department of trade and commerce may bring an action
for purpose of having trust company adjudged insolvent and its business
wound up, and that, in case of judgment of insolvency, the department
should become a liquidating agent to wind up the business and vested
with title to property for that purpose.) (Ib.)
Bankruptcy—Summary jurisdiction—Title of bankrupt—Adverse claim.
(U. S. C. C. A. 1930.) Summary jurisdiction of bankruptcy court to determine title, right, or interest of bankrupt to property exists irrespective of
claim of others. (Ib.)
Bankruptcy—Custody of property—Summary order—Determination of title.
(U. S. C. C. A. 1930.) Bankruptcy court may by summary order require
custody of property to be turned over to receiver pending determination
of title. (Ib.)
Bankruptcy—A dverse claim—Expenditures—A ssignee.
(U. S. C. C. A. 1930.) Expenditures made or expenses incurred by assignee
prior to filing of petition in bankruptcy may be adverse claim. (Ib.)
Bankruptcy—Adverse claim—Expenses—State official—Predicate.
(U. S. C. C. A. 1930.) Claim of adverse possession of State officer in respect
to property sufficient to cover expenses in administration prior to bankruptcy must show facts as predicate for ascertaining property affected.
(Ib.)
Bankruptcy—Receiver—Counsel—Interest.
(U. S. C. C. A. 1930.) Receiver in bankruptcy and counsel must be entirely
without interest or embarrassing connections. (Ib.)
INSURANCE
CROSS REFERENCES:

DEPOSITS—
INSURANCE OP DEPOSITS
OFFICERS—
BONDS OF OFFICERS

Page
175
200

Express company as common carrier liable as insurer.
(U. S. D. C. 1930.) At common law, express company, as common carrier
of interstate shipment, is liable as insurer, and such liability is not changed
by interstate commerce act and amendments. Express company, accepting interstate shipment of money at bank instead of when delivered at office
by shipper, contrary to tariff classification, held liable, as common carrier,
as insurer. (American Trust Co. v. American Railwav Express Co., 42
Fed. Rep. (2d series), 272.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

197

INTEREST AND USURY
What constitutes usury.
(C. of A. of Dist. of Col. 1930.) Money exacted for use of money in excess
of legal rate is "usury7' under whatever name or pretense designated.
(Code, sec. 1181.) (Von Rosen v. Dean, 41 Fed. Rep. (2d series), 982.)
When payment exacted for extension is usury.
(C. of A. of Dist. of Col. 1930.) Payment exacted for extension for payment
of installment of principal and interest to prevent foreclosure attached
to entire debt, not merely to payment involved, in determining whether
usury existed. (Code, sec. 1181.) (Ib.)
When action to recover usurious interest can be maintained.

(C. of A. of Dist. of Col. 1930.) Action to recover back usurious interest
paid can only be maintained after last payment on debt. (Code, sec.
1181.) (Ib.)
Pawnbrokers and money lenders.

(C. of A. of Dist. of Col. 1930.) Loan shark law had no application to debt
of $177,500 secured by first trust on realty, since it applies only to small
loans on personal security (loan shark law). (Ib.)
LIQUIDATION
Stockholders present or having opportunity to be present at meetings at which contract
for voluntary liquidation of national bank was ratified held estopped to deny validity
of contract. (12 U. S. C. A., sees. 181, 182.)

(U. S. C. C. A. 1929.) Stockholders of national bank who participated in
stockholders7 meetings at which contract was entered into and accepted,
whereby State bank assumed liabilities and assets of national bank which
was placed in voluntary liquidation under Revised Statutes, sections
5220, 5221 (12 U. S. C. A., sees. 181, 182), or who were notified of, and
had opportunity to be present at, such meetings, held estopped to deny
validity of contract. (Derscheid et al. v. Andrew, Superintendent of
Banking of Iowa, 34 Fed. Rep. (2d series), 884.)
Stockholders accepting benefits of consolidation contract held precluded from repudiating contract without tendering back benefits. (12 U. S. C. A., sees. 181, 182.)

(U. S. C. C. A. 1929.) Stockholders of national bank accepting benefits of
contract between State bank and national bank placed in voluntary liquidation under Revised Statutes, sections 5220, 5221 (12 U. S. C. A., sees.
181, 182), whereby State bank assumed all liabilities and assets of national
bank, in that stockholders permitted State bank to pay their deposits in
full, held precluded from repudiating contract without at least doing equity
by tendering benefits which they received thereunder. (Ib.)

Alleged unauthorized acts of liquidating committee held not to affect liability of national
bank fixed by consolidation contract. (12 U. S. C. A., sees. 181, 182.)

(U. S. C. C. A. 1929.) Where State bank and national bank, which latter
bank was placed in voluntary liquidation under Revised Statutes, sections
5220, 5221 (12 U. S. C. A., sees. 181, 182), entered into contract whereby
State bank assumed assets and liabilities of national bank, liabilities of
national bank became fixed, and could not be affected nor released by
any act on part of liquidating committee, such as alleged unauthorized
renewal of bills receivable. (Ib.)
Credit of guaranty fund on indebtedness of national bank to State bank assuming its
assets and liabilities held properly disallowed.

(U. S. C. C. A. 1929.) In action by State bank, in nature of creditors' bill
against national bank and its stockholders to recover indebtedness arising
from contract whereby State bank assumed assets and liabilities of national bank, court held to have properly refused to allow credit on indebtedness of sum paid into guaranty fund, where such sum was contingent
payment to meet an assessment if and when made, and assessment was
legally made for the first time by appellate court. (Ib.)



198

REPORT OF THE COMPTROLLER OF THE CURRENCY

Limitation of actions—Action by State bank liquidating national bank to recover
excess of liabilities over assets held not suit for "statute penalty" within limitation
statute. (12 U. S. C. A., sees. 181, 182; Code Iowa, 1927, sec. 11007, par. 3.)

(U. S. C. C. A. 1929.) Where, pursuant to contract, State bank assumed
assets and liabilities of national bank placed in voluntary liquidation under
Revised Statutes, sections 5220, 5221 (12 U. S. C. A., sees. 181, 182), and
assets pledged were not of sufficient value to pay indebtedness of national
bank, held that action by State bank to recover such excess indebtedness
is not one to recover for a "statute penalty7' within meaning of 2-year
statute of limitations of Iowa. (Code Iowa, 1927, sec. 11007, par. 3.) (Ib.)
LIQUIDATION OF STATE BANK

Dissolution of bank was not effected as to creditors who failed to receive statutory
notice of dissolution. (CahiU's Rev. St. III. 1929, ch. 16a, sec. 11.)

(U. S. D. C. 1930.) Where CahilTs Revised Statutes, Illinois, 1929, chapter
16a, section 11, providing that, on dissolution of bank, creditors shall be
given notice by advertisement for three consecutive months to present
their claims, was not complied with, dissolution of bank was not effected
as to creditors who failed to receive notice. (Hon v. State Commercial
& Savings Bank et al., 37 Fed. Rep. (2d series), 907.)
Judgment creditor of bank having no notice of dissolution thereof could impress trust
on property in hands of assignee taking over bank's assets and assuming liabilities.
(CahiU's Rev. St. III. 1929, ch. 16a, sec. 11, and ch. 22, sec. 49.)

(U. S. D. C. 1930.) Judgment creditor of bank having no notice of bank's
dissolution held entitled to have trust impressed on bank's property in
possession of assignee thereof, taking dissolved bank's assets and assuming
its liabilities, under Cahill's Revised Statutes, Illinois, 1929, chapter 22,
section 49, providing for filing of creditor's bill by judgment creditor
having execution returned unsatisfied; notice to creditors on dissolution
of bank being required by chapter 16a, section 11. (Ib.)
Corporations—Person receiving assets of dissolved corporation with notice of their
character takes subject to trust for creditors and stockholders.

(U. S. D. C. 1930.) The assets of a dissolved corporation will be protected
in equity as a trust fund for creditors and stockholders, and person receiving them with notice of their character takes subject to trust. (Ib.)
Equity—Judgment creditor of dissolved bank was not precluded from suing assignee
of bank's assets to establish trust by reason of legal remedy arising from assignee's
promise to pay bank's debts.

(U. S. D. C. 1930.) That assignee of assets of bank on bank's dissolution
promised to pay bank's debts did not prevent judgment creditor of dissolved bank from suing assignee to enforce trust on assets transferred on
ground that there was an adequate legal remedy. (Ib.)
Mortgages—Mortgagee's right to sue solvent mortgage debtor at law does not prevent
proceedings to reach security.

(U. S. D. C. 1930.) That one has right to sue at law solvent mortgage
debtor does not prevent him from also seeking to reach the property held
in trust by the mortgage to secure his debt. (Ib.)
NEGOTIABLE PAPER
Count alleging note was due, and that plaintiff was holder of it and entitled to sue,
held sufficient although liability on contract which note secured was not pleaded.

(U. S. C. C. A. 1930.) Where contract provided for sale of doubtful assets
of bank, and note and mortgage were executed as security for contract,
count which alleged amount of note was due and owing, that plaintiff was
owner and holder of it, and that he was entitled to sue on it, and note
exhibited in count disclosed that it was security for contract, held sufficient,
although failing to plead liability on contract. (Little v. Keaton, 38 Fed.
Rep. (2d series), 457.)

Bills and notes—Surety on note is primarily liable thereon at common law.

(U. S. D. C. 1929.) At common law a surety on a note is primarily liable.
et al., 34 Fed. Rep. (2d series), 310.)

(Hardesty v. Young



REPORT OP THE COMPTROLLER OF THE CURRENCY

199

Bills and notes—Under uniform negotiable instruments act and State statutes,
principal and surety on note are primarily and jointly liable as respects holder.
(Michie's Civ. Code Ga. 1926, sees. 8588, 8589, £294 (192).)
(XL S. D. C. 1929.) Under uniform negotiable instruments act, section 192
(Michie's Civ. Code Ga. 1926, sec. 4294 (192)), as well as at common law,
and under Michie's Civ. Code Georgia, 1926, sections 3538, 3539, defining
obligations of a surety, principal and surety on note are in effect comakers,
primarily and jointly liable so far as their relation to holder is concerned,
though as between themselves principal is primarily liable and surety
secondarily liable. (Ib.)
Bankruptcy—Liability of surety on unmatured note constituted "provable debt}9
when his petition in bankruptcy wasfiled,and discharge in bankruptcy was com*
plete defense to action against him on note. (Michie's Civ. Code Ga. 1926, sees,
8538, 3539, 4294 (192).)
(U. S. D. C. 1929.) Under uniform negotiable instruments act, section 192
(Michie's Civ. Code Ga. 1926, sec. 4294 (192)), and Michie's Civ. Code
Georgia, 1926, sections 3538, 3539, liability of surety on unmatured note
constituted a "provable debt" when his petition in bankruptcy was filed,
and his discharge in bankruptcy constituted a complete defense to an
action against him on the note. (Ib.)
Pleading.
(Ct. of Appeals D. C. 1930.) Maker's defense challenging individual
plaintiff's right to sue on note payable to company because no assignment
or indorsement was made held erroneously stricken, notwithstanding
testimony plaintiff was trading as such company. (Allen v. Foer, 40 Fed.
Rep. (2d series), 815.)
Bills and notes.
(Ct. of Appeals D. C. 1930.) That note was given as security for payment
of claim against another, and on condition not performed, would constitute
defense to maker.
(Defendant maker testified that note was given in payment of an account held by payee against B, on condition that it should be held as
security by payee for payment of the claim until a legal action was
brought against B for recovery of balance due on his account, and that,
in event of recovery against B, note should be returned to defendant. No
legal action was ever instituted against B.) (Ib.)
Limitation of actions.
(Ct. of Appeals D. C. 1930.) Demand note is present debt, and limitation
statute begins to run from its date, unless different intention is apparent
from its terms. (Kenyon v. Youngman, 40 Fed. Rep. (2d series), 812.)
Limitation of actions.
(Ct. of Appeals D. C. 1930.) Note payable "on demand after date" held
not to indicate intent note should not be due immediately so as to require
demand before running of limitations commenced. (Ib.)
Appeal and error.
(Ct. of Appeals D. C. 1930.) Refusal or granting of new trial is not reviewable, except for abuse of discretion. (Ib.)
New trial.
(Ct. of Appeals D. C. 1930.) Refusal to set aside judgement for defendant
on ground defense of limitations should have been raised by plea, not
demurrer, held not abuse of discretion. (Ib.)
Limitation of actions.
(Ct. Appeals D. C. 1930.) Correspondence between parties must be considered as entirety in determining whether there is written acknowledgment of indebtedness or promise to pay sufficient to remove limitation bar.
(D. C. Code, sec. 1271.) (Hayden v. International Banking Corporation,
41 Fed. Rep. (2d series), 107.)
22439°—31
14



200

REPORT OF THE COMPTROLLER OF THE CURRENCY

Limitation of actions.
(Ct. Appeals D. C. 1930.) Acknowledgment of debt as subsisting personal
obligation, as distinguished from promise to pay, is sufficient to avoid bar
of limitations. (D. C. Code, sec. 1271.) (Ib.)
Limitation of actions.
(Ct. Appeals D. C. 1930.) Maker's correspondence with holder of demand
note held to acknowledge debt as subsisting obligation sufficient to remove
bar of limitations. (D. C. Code, sec. 1271.) (Ib.)
OFFICERS
BONDS OF OFFICERS

Insurance.
(U. S. C. C. A. 1930.) Indemnity bond limiting liability to losses discovered
within term of bond or 15 months thereafter did not make liability dependent on diligence in discovering losses. (Thompson v. American Surety
Company of New York et al., 42 Fed. Rep. (2d series) 953.)
Insurance.
(U. S. C. C. A. 1930.) Surety held not liable for losses by employee's misapplication of funds not discovered within time limited in bond. (Ib.)
Assets taken over by receiver.
(U. S. C. C. A. 1930.) Receiver taking over assets of insolvent bank took
only assets which bank had. (Ib.)
Insurance.
(U. S. C. C. A. 1930.) Provisions of bond indemnifying bank against misappropriation of funds by employee held not suspended by appointment
of receiver after termination of bond. (Ib.)
Pleading.
(U. S. C. C. A. 1930.) Where complaint in action on contract failed to state
right of recovery on contract indemnifying employer against loss by employee's misappropriation, no cause of action was stated against employee
alone in tort. (Ib.)
Insurance—In action on bond of bank president, testimony respecting his financial
condition held properly excluded.
(U. S. C. C. A. 1930.) In action by receiver of bank to recover on bond
insuring fidelity of bank's president, testimony relating to financial condition of president held properly excluded, since issue was whether liability
existed in favor of plaintiff under bond for alleged shortage in accounts of
bank's ex-president, and not whether he was solvent. (Wachovia Bank
& Trust Co. v. Independence Indemnity Co., 37 Fed. Rep. (2d series)
550.)
Insurance—Failure to notify surety of loss within time stipulated in bond insuring
fidelity of bank president held to bar recovery.
(U. S. C. C. A. 1930.) Where bond insuring fidelity of president of defunct
bank contained provision that employer should within reasonable time,
and at all events not later than 30 days after discovery of loss, notify
surety, failure to give notice of defalcation within proper time held to bar
recovery. (Ib.)
Fidelity bonds.
(U. S. C. C. A. 1930.) Construction of fidelity bond favorable to bank protected thereby will be adopted, if consistent with objects of bond. (Brandon et al. v. Holman, 41 Fed. Rep. (2d series) 586.)
Fidelity bonds.
(IT. S. C. C. A. 1930.) Bank's loss by misuse of funds by cashier and his
sons for benefit of another company held recoverable under fidelity bond
as loss sustained through " fraud, dishonesty * * * wrongful abstraction or willful misapplication" by cashier, "directly or through connivance
with others." (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

201

Fidelity bonds.

(U. S. C. C. A. 1930.) WOI^S "fraud" and "dishonesty" in fidelity bonds
should be given broad signification extending beyond criminal acts. (Ib.)

Fidelity bonds.

(U. S. C. C. A. 1930.) "Connivance" with others within fidelity bond may
be committed by passive permission, failure to prevent, or by negligence
or voluntary oversight. (Ib.)
Insurance—Bank officer—Fidelity bond—Larceny.

(U. S. C. C. A. 1930.) Bank officer's acquisition of bank funds lawfully and
not animo furandi could not constitute larceny within fidelity bond.
(U. S. Fidelity & Guaranty Co. of Baltimore v. Hughes, 40 Fed. Rep.
(2d series) 34.)
Criminal lavj—Larceny—Embezzlement—National

bank—Officer.

(U. S. C. C. A. 1930.) Larceny or embezzlement by national-bank officer
could not constitute offense against State, but only offense against United
States, which has exclusive power over national banks. (Ib.)
Insurance—National

bank—Officer—Fidelity

bond—"Embezzlement."

(U. S. C. C. A. 1930.) Bank president's withdrawal of currency from
another bank on account of his bank, and crediting it to large stockholder, held "embezzlement" within fidelity bond. (12 U. S. C. A.,
sec. 592.)
(Surety contended that president's withdrawal of currency, though
fraudulent and dishonest, did not constitute embezzlement. The surety
agreed to indemnify bank for such pecuniary loss as it might sustain by
reason of fraud and dishonesty of president, in connection with duties
of his office or position, amounting to embezzlement or larceny. The
evidence showed that when currency was withdrawn president was
apprehensive that it would be to detriment and injury of bank.) (Ib.)
Insurance—National bank—President—Fidelity bond—" Embezzlement."

(U. S. C. C. A. 1930.) Transaction by bank president, consisting merely
of book entries made at direction of large stockholder, held not '' embezzlement" within fidelity bond. (12 U. S. C. A., sec. 592.) (Ib.)
Insurance—Bank—President—Fidelity oond—Notice.
(U. S. C. C. A. 1930.) Bank president's conduct, in permitting large stockholder to overdraw account, held not potential claim under fidelity bond,
requiring notice to surety.
(Provision in fidelity bond required bank, on discovery of any act
capable of giving rise to claim under bond, to give notice thereof to surety.
President permitted large stockholder to overdraw account by checks
and such conduct was called to the attention of the officers and directors
by the bank examiner and condemned as improper practice, together
with demand t h a t president resign his position. Surety contended that
president's conduct with knowledge of bank officers and directors was act
capable of giving rise to claim under bond, and that bank's failure to give
notice thereof to it was violation of above condition of bond.) (Ib.)
OFFICERS, CIVIL LIABILITY OF
Page
D E G R E E OF CARE REQUIRED OF DIRECTORS
LIABILITY OF DIRECTORS FOR ASSENTING TO EXCESSIVE LOANS___
ACTIONS AGAINST DIRECTORS—•
SUIT AGAINST ESTATE OF DECEASED DIRECTOR
SUIT BY STOCKHOLDERS AGAINST DIRECTORS
SURVIVAL OF ACTIONS

201
206
206
207
208

D E G R E E OF CARE REQUIRED OF DIRECTORS

Degree of care required by directors,

(U. S. C. C. A. 1930.) Bank directors, in exercise of duties, must use
degree of care which ordinarily prudent and diligent men would exercise
under similar circumstances. (Bourne v. Perkins et al., 42 Fed. Rep.
(2d series) 94.)



202

REPOKT OF THE COMPTROLLER OF THE CURRENCY

National bank directors must exercise ordinary care in managing corporation affairs,
being liable for losses from willful departure from duty, fraudulent breaches oj
trust, gross negligence or ultra vires acts. (12 U. S. C. A. sees. 78, 98.)

(U. S. C. C. A. 1930.) Under Revised Statutes, sections 5147, 5239 (12
U. S. C. A., sees. 73, 93), directors of national bank owe duty of managing
corporation affairs honestly and impartially in behalf of corporation and
stockholders, and, though not liable for losses happening through mere
mistake of judgment, are liable for losses caused by willful and intentional
departure from duty, fraudulent breaches of trust, gross negligence, or
ultra vires acts; measure of care required being ordinary and reasonable
care. (Burckhardt v. Northwestern National Bank et al., Ballin v.
Same, 38 Fed. Rep. (2d series) 568.)
To render national bank directors liable for wrongful acts of other officers, they must
have participated or must be chargeable with culpable negligence. (12 U. 8. C. A.,
sees. 78, 98.)

(U. S. C. C. A. 1930.) To render directors or other officers of national bank
liable to it for fraudulent or wrongful acts of other officers, under Revised
Statutes, sections 5147, 5239 (12 U. S. C. A., sees. 73, 93), they must have
participated therein, or else they must be chargeable with culpable negligence, since director is not, merely by virtue of his position, liable for
mismanagement of officers or employees, unless he fails to exercise reasonable supervision of affairs of corporation with degree of care which ordinarily prudent man would exercise under similar circumstances. (Ib.)
What constitutes negligence of national bank director is fact question.
A., sees. 78, 98.)

(12 U. 8. C.

(U. S. C. C. A. 1930.) Question of what constitutes negligence or due
care of director of national bank under Revised Statutes, sections
5147, 5239 (12 U. S. C. A., sees. 73, 93), is question of fact to be determined
according to circumstances of each particular case. (Ib.)
Court under evidence acted within authority in finding plaintiffs failed to establish
allegations of bills against national bank and directors to enjoin collection of plaintiffs' indebtedness to bank.

(U. S. C. C. A. 1930.) In suit against national bank and directors to enjoin
them from proceeding with collection of indebtedness of plaintiffs to bank,
to require accounting of all financial transactions of bank, and to have
adjudication of liability for losses sustained by stockholders, trial court
under evidence held to have acted within bounds of its authority in finding
plaintiffs failed to establish allegations of bills of complaint, and that such
bills of complaint were without equity. (Ib.)
Courts—Statute confers personal privilege on defendant, which he may assert or
waive, if sued in district of which he is not resident. (Jud. Code, sec. 51 (28
U. 8. C. A., sec. 112).)

(U. S. C. C. A. 1930.) Judicial Code, section 51 (28 U. S. C. A., sec. 112),
relative to bringing of suit in Federal court against defendant in district
of which he is not resident, does not limit general jurisdiction of district
courts, but confers personal privilege on defendant, which he may assert,
or waive, at his election, if sued in some other district, but if privilege is
seasonably asserted, suit must be dismissed for want of jurisdiction over
person of defendant. (Ib.)
Courts—Defendant residing in Illinois could have dismissed suits brought in Oregon
by residents of Washington and California. (Jud. Code, sec. 51 (28 U. 8. C. A.
sec. 112).)

(U. S. C. C. A. 1930.) Where one plaintiff in suit in Federal court was
resident of State of Washington and another was resident of State of
California, and suits were brought in District Court of Oregon, defendant
who was resident of State of Illinois was entitled to have suits dismissed
and service quashed as to him under Judical Code, section 51. (28 U. S.
C. A., sec. 112.) (Ib.)
Intentional violation of national bank act by directors of defunct bank must be shown,
to justify recovery under statute. (12 U. S. C. A., sec. 1 et seq.)

(U. S. D. C. 1929.) Where gist of action to enforce liability of directors of
insolvent bank and collect damages from them for losses sustained by



REPORT OF THE COMPTROLLER OF THE CURRENCY

203

bank is violation of duty imposed by national bank act (12 U. S. C. A.
sec. 1 et seq.), it must in effect be shown that there has been an intentional
violation of the provisions of the act. (Ringeon v. Albinson et al., 35 Fed.
Rep. (2d series) 753.)
Director must be honest and diligent in administering bank's affairs.

(TJ. S. D. C. 1929.) Director of bank is under common-law obligation to
be honest and diligent in administering affairs of bank, and this duty is
specifically required by his oath of office under 12 TJ. S. C. A., section 73.
(Ib.)
Charges against directors of defunct national bank, involving statutory and commonlaw liability, may be united in single bill. {National bank act, 12 U. S. C. A.,
sec. 1 et seq.)

(U. S. D. C. 1929.) Charges against directors of defunct national bank,
involving statutory liability under national bank act (12 U. S. C. A., sec 1
et seq.) and liability under common-law rules, may be united in one bill.
(Ib.)
That director of defunct national bank resided at some distance and did not actively
participate in its affairs did not relieve him from liability for losses.

(U. S. D. C. 1929.) In action against directors of defunct national bank
for damages for losses sustained by bank under common law and under
national bank act (12 U. S. C. A., sec. 1 et seq.), fact that one of directors
resided at some distance from bank and was not active in participation
in its affairs did not relieve him from liability. (Ib.)
Liability of directors of defunct national bank for losses is fixed by determining what
part of loss was fairly traceable to their neglect, and by then determining measure
of responsibility as to each defendant during time he was director.

(TJ. S. D. C. 1929.) In action against directors of defunct national bank by
receiver thereof for damages for losses sustained by bank under common
law and under national bank act (12 U. S. C. A., sec. 1 et seq.), in which it
appeared that bank's insolvency resulted from mismanagement and failure
of directors to exercise proper supervision, measure of responsibility of
directors must be determined by ascertaining what part of loss was due to
their failure to exercise proper care in management and supervision of
bank's affairs, and then measure of responsibility as to each defendant
must likewise be determined, taking into consideration circumstance that
one defendant held directorship only for part of period of mismanagement
involved. (Ib.)
Directors of national bank must be held to their duties with reasonable firmness, where
rights of others are involved.

(U. S. D. C. 1929.) Directors of national bank must be held to their obligations and to the performance of their duties with reasonable degree of
firmness, where rights of others are involved. (Ib.)
Amount of liability of each director of defunct national bank should be established by
fair preponderance of evidence. (National bank act (12 U. S. C. A., sec. 1 et
seq.).)

(U. S. D. C. 1929.) In action by receiver of defunct national bank against
directors thereof, to enforce liability and collect damages under common
law and national bank act (12 U. S. C. A., sec. 1 et seq.), on account of
losses sustained by bank, amount of liability of each defendant should be
established by fair preponderance of evidence, and should not be fixed at
highest possible sum. (Ib.)
Bank directors must exercise ordinary prudence and skill to care for and invest money
intrusted in accordance with charter and governing statutes.

(Mass. Sup. 1930.) Directors of bank are bound to exercise ordinary
prudence and skill to care for and invest money intrusted in accordance
with charter and governing statutes, and must be animated by utmost good
faith, since they hold themselves out as having superintendence and management of concerns of bank and thereby engage to conduct its business as
men of reasonable ability, necessary intelligence, and sound judgment
ought to conduct it. (Prudential Trust Co. v. Brown et al., 171 N. E. R.
42.)



204

REPORT OF THE COMPTROLLER OF THE CURRENCY

Bank directors must be diligent in ascertaining condition of bank's affairs, must
to reasonable extent control and supervise executive officer and agents, and display
understanding and insight proportionate to particular circumstances.

(Ma,ss. Sup. 1930.) Directors of bank must be diligent in ascertaining and
keeping themselves informed as to condition of bank's affairs, must to
reasonable extent control and supervise its executive officers and agents,
and must display understanding and insight proportionate to particular
circumstances under which they act. (Ib.)
Bank directors are not required to exhibit greater wisdom and foresight than may be
fairly expected of ordinary men in similar conditions.

(Mass. Sup. 1930.) Directors of bank need not exhibit greater wisdom and
foresight than may be fairly expected of ordinary men in similar conditions,
since they invite confidence of depositing public and must afford protection
thereby implied. (Ib.)
Bank directors need not give continuous attention to bank's business, but must be
present so far as rationally practicable at regular board and committee meetings.

(Mass. Sup. 1930.) Directors of bank are not bound to give continuous
attention to business of bank, but must be present so far as rationally
practicable at stated meetings of board and of its committees. (Ib.)

Bank directors need not be expert accountants or familar with details of bookkeeping
or know everything disclosed by books.

(Mass. Sup. 1930.) Directors of bank are not required to be expert accountants or familiar with details of bookkeeping or to know everything disclosed by its books. (Ib.)
Bank directors may commit conduct of main business to officers and subordinates
and assume they will be upright in performing duties.

(Mass. Sup. 1930.) Having regard to nature and extent of affairs of bank
and customs of banking, directors are justified in committing conduct of its
main business to officers and subordinates, and, in absence of grounds for
distrust, to assume that such persons will be upright in performance of
their duties. (Ib.)
Bank directors may rely on information and advice given them by executive officers
whose probity and competency are not under just suspicion.

(Mass. Sup. 1930.) Directors of bank are entitled to rely upon information
and advice given them by executive officers whose probity and competency
are not under just suspicion, but directors can not surrender to such officers
responsibilities resting on directors. (Ib.)
Notwithstanding good faith, bank directors are liable for negligence in performing

(Mass. Sup. 1930.) Directors of bank are liable for negligence in performance
of responsibilities as directors, even though they acted in good faith.
(Ib.)
Bank directors must heed warnings from responsible sources and see that statutes
established for protection of depositors are observed.

(Mass. Sup. 1930.) Directors of bank must direct and not be led, but must
heed warnings from responsible sources and must do something to see that
statutes established for protection of depositors are observed and followed.
(Ib.)
Individual bank director, though results of misconduct may be magnified by concurring
misconduct of others, is liable only for own misconduct.

(Mass. Sup. 1930.) Individual director of bank is liable only for results
of his own misconduct, although such results may be magnified in some
instances by concurring misconduct of other directors. (Ib.)
Bank directors can not excuse misconduct, ignorance, or negligence by averring
failure merely to exercise ordinary care, skill, and vigilance.

(Mass. Sup. 1930.) Directors of bank are not liable for errors of judgment
while acting with integrity, skill, and prudence, measured according to
demarids of duties of business which they have taken upon themselves, but
can not be excused from consequences of their misconduct or ignorance or
negligence by averring that they have failed merely to exercise ordinary
skill,
 care, and vigilance. (Ib.)


REPORT OF THE COMPTROLLER OF THE CURRENCY

205

Whether bank director has conformed to standard of duty in given instance is generally
question of fact.
(Mass. Sup. 1930.) Generally, whether director of bank has conformed
to standard of dutv required of him in given instance is question of fact.
(Ib.)
Burden of proof in suit to establish and enforce liability against bank directors
for losses sustained based on misconduct is on plaintiff.
(Mass. Sup. 1930.) Where cause of action, in suit to establish and enforce
liability against directors of bank for losses sustained, in substance and
effect rests on breach of duty arising from acceptance of office of director,
cause of action must be supported by proof of failure to exercise ordinary
care and prudence in managing bank's affairs, and therefore burden of
proof is on plaintiff to establish misconduct, notwithstanding heavy
fiduciary obligation resting upon directors. (Ib.)
Bank directors, absent knowledge to contrary, were not negligent in approving loan,
if, upon officers' report, loan appeared to be good one.
(Mass. Sup. 1930.) If, upon report made by officers of bank to board of
directors, prospective loan appeared to be a good loan, directors were not
negligent in approving it, unless they had knowledge inconsistent with or
contrary to that reported, or if, for any reason, they knew or should have
known that reports were not to be relied upon. (Ib.)
Bank directors made chargeable with knowledge of mismanagement, excessive loans,
and officers7 carelessness in conducting its affairs, which could have been gathered
from banking commissioner''s report of audit, held negligent in failing to remedy
conditions rendering them liable.
(Mass. Sup. 1930.) Where directors of bank through report of audits made
by banking commissioner were chargeable with knowledge of bank's
affairs which searching inquiry by competent and disinterested bank
experts would have revealed, such as fact that bank was making excessive
loans to those unworthy of credit a,nd some in large part, if not wholly,
uncollectible, that president and treasurer were reckless and careless in
conducting its affairs, and that glaring mismanagement could only have
resulted through fault of executive officers or of executive committee,
directors held not justified in failing to take effective action to remedy
existing conditions, and, failing to do so, they were negligent, rendering
them liable for resulting losses. (Ib.)
Directors, if unable to exercise efficient supervision over bank's affairs, held under
duty to employ trustworthy and competent person to do so.
(Mass. Sup. 1930.) If directors of bank were too busy or otherwise unable
to exercise efficient supervision over affairs of bank, it was their plain
duty to employ some trustworthy and competent person to superintend
and overlook loans, investments, and collaterals accepted. (Ib.)
Directors of bank held liable for losses resulting from their ignorance or negligence
which contributed to such losses.
(Mass. Sup. 1930.) Where ignorance or negligence of directors of bank contributed to some of serious losses resulting from excessive loans, reckless
and careless methods of present president and treasurer in conducting
bank's affairs, and mismanagement, directors would be liable, since such
ignorance or negligence can not be excused. (Ib.)
Bank directors not being able to influence others in properly conducting its affairs
and desiring to avoid further personal liability should have severed connections.
(Mass. Sup. 1930.) If directors of bank, with knowledge of its true condition
and its impaired capital, were unable to influence other directors, chargeable
also with like knowledge to efficient action for welfare of bank, desired to
avoid further personal liability for losses, they should have severed connection with bank. (Ib.)
Presentation of resignation to president of bank held not to relieve director from
liability as such, where resignation had not been presented to, or acted upon, by
board.
(Mass. Sup. 1930.) Fact that director of bank had presented resignation
to president before closing of bank, but resignation had not been presented



206

REPORT OF THE COMPTROLLER OF THE CURRENCY

to, or acted upon, by board of directors, held not to relieve him of liability
as director. (Ib.)
Directors of bank in suit to establish their liability for losses held not liable for losses
and expenses of liquidation.
(Mass. Sup. 1930.) In suit to establish and enforce liability against directors
of bank for losses resulting from directors' failure to perform duties as
such, directors held not liable for losses and expenses of liquidation.
(Ib.)
Directors of bank before becoming liable for losses resulting from failure to remedy
conditions reported in audit should be allowed reasonable time thereafter to permit
investigation.
(Mass. Sup. 1930.) Where audit of bank's affairs was made by banking
commissioner, and a detailed report thereof made to board of directors,
latter should be allowed reasonable time thereafter to permit investigation
before becoming liable for losses resulting from failure to remedy conditions. (Ib.)
Directors of bank in paying illegal dividends, making excessive and improvident
loans, and permitting overdrafts, held negligent, rendering them liable for resulting
losses.
(Mass. Sup. 1930.) Payment of dividends by bank when capital had been
seriously impared, when reserves were deficient, and when surplus and
guaranty were adversely affected, making of loans to individuals in excess
of amount permissible, overdrafts, and making of improvident loans, held
to constitute negligence, rendering directors liable for losses resulting.
(Ib.)
Directors7 liability for failure to perform duties can not in any event exceed amount
necesary to liquidate balance of unpaid liabilities of bank.
(Mass. Sup. 1930.) In suit against directors of bank to establish and enforce
liability for Josses resulting from failure to perform their duties as directors, directors' liability can not in any event exceed amount necessary
to liquidate balance of bank's unpaid liabilities. (Ib.)
Directors of bank liable for losses sustained held chargeable with simple interest on
all sums found due from time respective losses occurred.
(Mass. Sup. 1930.) Directors of bank liable for losses sustained at time of
closing held liable for simple interest on all sums found due from time respective losses occurred. (Ib.)
LIABILITY OF DIRECTORS FOR ASSENTING TO EXCESSIVE LOANS

Finding that national bank directors assented to excessive loans supported decree
against director holding him presonally liable. {12 U. S. C. A.} sees. 84, 93.)
(U. S. C. C. A. 1929.) Finding that directors of national bank assented to
loans in excess of amounts allowed by Revised Statutes, section 5200
(12 U. S. C. A., sec. 84), and, in effect, failed to exercise ordinary care and
prudence in supervision and management of affairs of bank, supported
decree holding director personally liable, in accordance with Revised
Statutes, section 5239. (12 U. S. C. A., sec. 93.) (White v. Thomas,
37 Fed. Rep. (2d series), 452.)
Evidence sustained finding that national-bank directors assented to excessive loans.
{12 U. S. C. A., sec. 84.)
(U. S. C. C. A. 1929.) Evidence in suit against directors of national bank
held to sustain finding that directors assented to loans in excess of amounts
permitted by Revised Statutes, section 5200. (12 U. S. C. A., sec. 84.)
(Ib.)
ACTIONS AGAINST DIRECTOR
SUIT AGAINST ESTATE OF DECEASED DIRECTOR

Courts—Federal courts, exercising jurisdiction over representatives of decedents1
estates within State, are bound by rules which govern local tribunal.
(U. S. D. C. 1929.) Federal courts, exercising jurisdiction over executors
and administrators of the estates of decedents within a State, are administering the laws of the same and are bound by the same rules which govern
the local tribunal. (Orth v. Mehlhouse et al., 36 Fed. Rep. (2d series),

367.)


REPORT OF THE COMPTROLLER OF THE CURRENCY

207

Courts—Suit can not be maintained in Federal courts on claim against decedent's
estate required to be presented to probate court and not timely presented. (Gen
Stat. Minn., 1923, sees. 8809, 8811, 8812.)
(U. S. D. C. 1929.) Action in Federal court can not be maintained on a
claim against estate of decedent barred because not presented to probate
court for allowance as required by General Statutes, Minnesota, 192&
sections 8809, 8811, 8812. (Ib.)
Statute making directors of national bank liable for damages for violation of banking
laws is remedial and not penal. (12 U. S. C. A., sec. 93.)
(U. S. D. C. 1929.) Revised Statutes, section 5239 (12 U. S. C. A., sec. 93),
making directors of national banks liable for damages sustained by bank
by reason of violation of the banking laws knowingly committed or permitted, is remedial and not penal. (Ib.)
Executors and administrators—Action may be maintained against estate of deceased
national-bank director for damages for violation of banking laws without presenting
claim in probate court. (12 U. S. C. A., sec. 93; Gen. Stat. Minn., 1923. sees.
8809, 8811, 8812.)
(U. S. D. C. 1929.) A claim against a deceased director of a national bank
for damages for violation of banking laws, knowingly committed, under
Revised Statutes, United States, section 5239 (12 U. S. C. A., sec. 93), is
not one required to be presented to probate court by General Statutes,
Minnesota, 1923, sections 8809, 8811, 8812, but action may be maintained
in Federal court on such claim without presentation to probate court. (Ib.)
SUIT BY STOCKHOLDERS AGAINST DIRECTORS

Corporations—Stockholder in suit, for conspiracy to gain control of corporation and
misappropriate assets, could before trial amend petition by showing that management was in control of defendants and by seeking judgment for use of corporation.
(U. S. D. C. 1929.) Stockholder maintaining suit against defendants for
conspiracy to gain control of corporation and misappropriate its property
and assets, who in original petition prayed for judgment in favor of herself
and such other stockholders as might be similarly situated, held entitled
to amend petition prior to trial in order to show that interest of defendants
as officers and directors of corporation was adverse to plaintiff and that
demand on corporation to institute proceedings would be useless, and to
further amend prayer by seeking judgment for use and benefit of corporation. (Jacobs v. First National Bank of Shreveport et al., 35 Fed.
Rep. (2d series), 227.)
Pleading—In determining right to amend, petition should be construed as whole in
view of purposes and relief sought.
(U. S. D. C. 1929.) Petition should be construed as a whole in determining
right to amend, taking into consideration its purposes and the nature of
the relief sought. (Ib.)
Corporations—Suit by stockholder for directors' misappropriation of corporation's
assets held maintainable only in equity.
(U. S. D. C. 1929.) Suit by stockholder against defendants for conspiracy
to get control of corporation, and for misapplication of corporation's
property as directors by payment to bank in which defendants were
interested, must be brought in equity, and could not be maintained as
action at law. (Ib.)
Trial—If petition discloses proper case for equitable relief, court may order case
transferred upon necessary reformation. (Jud. Code, sec. 274 («) (28 U. S. C. A.,
sec. 397).)
(U. S. D. C. 1929.) If petition discloses proper case for equitable relief, court,
under Judicial Code, section 274 (a) (28 U. S. C. A., sec. 397), may order
it transferred on such reformation as to form as may be deemed necessary.
(Ib.)
Corporations—// defendants conspired together to control corporation and acquired
control, substituted themselves as directors, and diverted assets, stockholder could
sue without making demand on corporation.
(U. S. D. C. 1929.) If defendants formed conspiracy to control corporation
for purpose of collecting moneys not due by corporation, and forced




208

REPORT OF THE COMPTROLLER OF THE CURRENCY
transfer of majority of capital stock through coercion and threats of
receivership, and substituted themselves as directors and proceeded to
misappropriate property for benefit of bank of which they were also
officers, stockholder could maintain suit in equity against such defendants
for use and benefit of corporation without previous demand on corporation
to sue to recover the sums wrongfully misappropriated, since law will not
require one to do a vain and useless thing. (Ib.)
SURVIVAL OF ACTIONS

Bank directors are trustees of implied or resulting trust created by operation of law
on their official relation to bank.
(U. S. D. C. 1928.) National bank directors are not trustees of express
trust, but are trustees of an implied or resulting trust created by operation of law on their official relation to bank. (Schilling v. Parman et al.,
35 Fed. Rep. (2d series), 780.)
Limitation of actions—Statute of limitations does not, while such directors remain in
control, begin to run in favor of bank directors permitting excessive loans. (12
U.S.C.A.,
sees. 84y 93.)
(U. S. D. C. 1928.) In equity, statute of limitations does not, while such
directors remain in control of bank, run in favor of directors of national
bank against action under 12 U. S. C. A., section 93, for permitting excessive loans in violation of section 84. (Ib.)
OFFICERS, CRIMINAL LIABILITY OF
Page
FALSE ENTRIES
MISAPPLICATION OP FUNDS
FEDERAL FARM LOAN BANK, CRIMINAL LIABILITY OF EMPLOYEES

208
211
212

FALSE ENTRIES

False entries—Two entries on bank's books referring to same transaction held not
punishable as separate offenses under Revised Statutes, section 5209.
(U. S. Sup. 1930.) Under Revised Statutes, section 5209, as amended
(U. S. C , title 12, sec. 592), which punishes any officer of a Federal reserve
or member bank who makes any false entry in any book or report of the
bank with intent to defraud or deceive, etc., two entries on a bank's books
referring to the same transaction, based upon the same draft and which
were the correlated means of accomplishing a single fraud, are not separately punishable as separate offenses. (United States v. Adams, 281
U. S. R. 202.)
Under Revised Statutes, section 5209, offense of making false entry in report of condition of bank is distinct from offense of making false entry on books.
(U. S. Sup. 1930.) The offense under this section of making a false entry in
a report of condition of a bank, showing a credit, is distinct from the
offense of making an earlier false entry on its books, showing the same
credit.
In a prosecution under this section for making a false entry of credit
in a report of the bank's condition, with intent to defraud and deceive,
a former acquittal upon a charge of making with like intent earlier entries
of the same credit on the bank's books, is not a bar, since the acquittal,
though it establishes that the book entries were not made with criminal
intent, does not establish that they were true, and non constat but that
the accused may have learned of their falsity after entering them on the
books and before making the report. (Judgment No. 281 affirmed; No.
282 reversed.) (Ib.)
Evidence held sufficient to sustain conviction of charging false entries on books of
Federal reserve bank. (12 U. S. C. A., sec. 592.)
(U. S. C. C. A. 1929.) Evidence held sufficient to sustain conviction of
charging false entries on the books of a Federal reserve bank, in violation
of 12 U. S. C. A., section 592, Revised Statutes, section 5209. (Flood v.
United States, 36 Fed Rep. (2d series), 444.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

209

Criminal law—Relevant evidence should not be excluded merely because tending to
prove offense not charged.

(U. S. C. C. A. 1929.) Evidence is not to be excluded merely because it
may tend to prove another offense than that charged, if it is otherwise
relevant and competent. (Ib.)
Criminal law—Evidence is not admissible to show intent to commit offense charged
simply because it shows similar offense.

(U. S. C. C. A. 1929.) Evidence can not be admitted to show intent to
commit offense charged simply because it shows another similar offense.
(Ib.)
Criminal law—Evidence of other offenses is inadmissible to show plan or system-, if
showing entirely different system or method.

(U. S. C. C. A. 1929.) Evidence of other offenses than that charged can not
be received to show a plan or system, if it shows an entirely different
system or method. (Ib.)
Criminal law—Evidence that defendant bank officer drew check on bank for political
contribution, with attached memorandum indicating withdrawal from entertainment
fundf held inadmissible to show intent to make false entries of payments for premiums on public depositary bonds. (2 U. S. C. A., sec. 251; 12 U. S. C. A.t sec.

(U. S. C. C. A. 1929.) In trial for charging false entries of payments for
premiums on public depositary bonds, not executed by surety company,
on books of Federal reserve bank, of which defendant was vice president,
in violation of 12 U. S. C. A., section 592, Revised Statutes, section 5209,
evidence that defendant drew a check on such bank for political campaign
contribution, in violation of 2 U. S. C. A., section 251, with attached memorandum indicating withdrawal from bank's entertainment fund for benefit
of county fair, held inadmissible to show wrongful or corrupt intent as
merely tending to show his willingness to commit a crime similar to that
charged. (Ib.)
Criminal law—Rule requiring evidence in exceptions to be in narrative form, necessary to understanding of legal questions, applies in every kind of proceeding sought
to be reviewed in circuit court of appeals (supreme court rule 8).

(U. S. C. C. A. 1929.) Supreme court rule 8, providing that bill of exceptions shall contain only evidence necessary to present questions of law
involved, and that evidence shall be condensed and in narrative form,
applies in every kind of action or suit, where review is sought in circuit
court of appeals. (Caldwell v. United States, 36 Fed. Rep. (2d. series),
738.)
Criminal law—Sentence may be postponed to hear motion for new trial.

(U. S. C. C. A. 1929.) Sentence may be postponed for purpose of hearing
and deciding motion for new trial. (Ib.)
Criminal law—Jurisdiction to impose sentence held not lost by postponement for
over two years, pending hearing of motion for new trial by defendant not seeking
earlier hearing.

(U. S. C. C. A. 1929.) Where verdict was brought in February 25, 1926,
and, on date for sentence, defendant filed motion for new trial, and cause
was continued on October 8, 1927, and motion for new trial w^as assigned
for hearing on May 26, 1928, when motion was overruled and defendant
sentenced, and there was no showing that defendant attempted to secure
an earlier disposition of motion for new trial, court did not lose jurisdiction
to impose sentence by postponement for more than two years, during which
time there w^ere at least 10 terms of court in district. (Ib.)
Criminal lau>—Insufficiency of evidence to sustain conviction held not raised on
appeal, where there was no motion for directed verdict.

(U. S. C. C. A. 1929.) Where there was no motion for directed verdict at
close of evidence in case, question whether evidence was insufficient to
sustain conviction was not raised on appeal. (Ib.)
Testimony held sufficient to sustain conviction of bank cashier as making or directing
making of false statement of bank's condition.

(U. S. C. C. A. 1929.) In prosecution against bank cashier for making false
of Currency of condition of bank, and for making

report to Comptroller



210

REPORT OF THE COMPTROLLER OF THE CURRENCY
false entries in books of bank, testimony by bookkeeper, who actually
made entries, that cashier stated the bank statement did not include
amount of cash specified, but that he wanted bank to show good statement
of its condition, was sufficient to sustain conviction of defendant, as either
making or directing making of false entries. (Ib.)

That false statement by bank cashier was made for advertising purposes, not to deceive
bank examiners, held no defense to prosecution for making false statement.

(U. S. C. C. A. 1929.) That purpose of bank cashier in making false statement as to condition of bank, and making false entries in books of bank,
was not to deceive officers of Federal reserve bank or Comptroller of the
Currency and examiners, but was done for advertising purposes, held no
defense to prosecution of bank cashier for making false report and false
entries. (Ib.)
Criminal law—Error in admitting testimony could not be considered on appeal,
where there was no bill of exceptions, and assignments of error did not comply
with rules. (Circuit court of appeals rule 11.)

(U. S. C. C. A. 1929.) Where there was no bill of exceptions, and assignments of error were not in accord with rule 11 of circuit court of appeals,
alleged error in admitting testimony as to conversation with defendant,
prosecuted for making false entries in books of bank, and false statement,
was not open for consideration by circuit court of appeals. (Ib.)
Criminal law—Alleged error in admitting defendant1 s statement concerning condition
of bank in prosecution for making false statement held not so radical as to permit its
consideration without proper assignment.

(U. S. C. C. A. 1929.) In prosecution of bank cashier for making false
report and false entries in books of bank, alleged error in admitting testimony of national bank examiner as to conversation with defendant, to show
general condition of bank and facts surrounding transaction, when offense
was committed, did not involve such radical error, seriously prejudicing
rights of defendant, as could be noticed, in absence of proper assignment of
error. (Ib.)
Criminal law—Rule permitting consideration of radical errors without proper
assignment of error can not be invoked generally as substitute for proper assignments.

(U. S. C. C. A. 1929.) Rule that radical errors which appear to have seriously prejudiced rights of defendant may be noticed, in absence of proper
assignment of error, can not be invoked generally as substitute for proper
assignments of error. (Ib.)
Criminal law—Record showing jury were given books containing entries not admitted
in evidence, but were instructed not to consider such entries, and foreman's statement
that jury had not considered them, did not show prejudicial error.

(U. S. C. C. A. 1929.) Where record in prosecution of bank cashier for making a false report to Comptroller of the Currency, and for making false
entries in books of bank, showed that jury were given exhibits, consisting
of records and books of account, which contained great many entries that
had not been admitted in evidence, but that exhibits were recalled from
jury room as soon as this was discovered, and jury instructed that it must
not give any consideration to any exhibits, except those properly introduced in evidence, and foreman of jury stated that jury only examined
entries which related to questions under consideration, and did not look
at others, record did not disclose prejudicial error. (Ib.)
Criminal law—^Jury should not be permitted to examine exhibits identified but not
offered in evidence.

(U. S. C. C. A. 1929.) Care should be exercised that exhibits which are
identified, but not offered in evidence, are not taken into jury room, and
that, where only portion of book or paper is admitted in evidence, jury
should not be permitted to consider part not offered in evidence. (Ib.)
Criminal law—Appellate court can not consider objections to charge, not made
at close of charge.

(U. S. C. C. A. 1929.) Objections to charge, not called to attention of trial
court at close of charge, can not be considered by circuit court of appeals.
(Ib.)




EEPORT OF THE COMPTROLLER OF THE CURRENCY

211

Criminal law—Supplemental charge may be given to avoid mistrial by jury.
(U. S. C. C. A. 1929.) Supplemental charge may be given to jury at time
when jury appeared to be in disagreement, in order to avoid mistrial.
(Ib.)
Criminal law—Cashier properly convicted of making false bank report could not
be prejudiced by error at trial for making false entries growing out of same transaction, where sentences ran concurrently.
(U. S. C. C. A. 1929.) Where offense of making false report to Comptroller
of the Currency of condition of bank by casher grew out of same transaction as offense of making false entries in books of bank to show fictitious
asset of $120,000 in cash, and sentence under both charges was concurrent,
cashier, properly convicted of first charge, could not be prejudiced by error,
if any, on trial of second charge. (Ib.)
Extradition—Indictment—Sufficiency—False
entries.
(U. S. C. C. A. 1930.) Indictment for making false entries in bank books
with intent to deceive examiner, held sufficient for extradition purposes.
(Banking act, Washington, sec. 56 (Laws, 1917, p. 299, sec. 56, now Rem.
Comp. Stat. Wash. sec. 3263), prohibits false statement or false entry in
books of bank or trust company or exhibit of false paper or security with
intent to deceive examiner and statement or publication of any false
statement of the amount of assets or liabilities of any bank or trust company. The indictment followed the language of the statute.) (Brown v.
Fitzgerald, Sheriff, et al., 39 Fed. Rep. (2d series), 870.)
False entry.
(IT. S. C. C. A. 1930.) Under Washington statute, false statement to deceive
bank examiner need not necessarily be made by bank officer or employee,
but must have bearing on condition of bank, subject to examiner's inquiry.
(Banking act, Wash., sec. 56.) (Ib.)
Offenses—False statement—Deceiving bank examiner.
(U. S. C. C. A. 1930.) Whether false instrument filed with bank respecting
financial condition of individuals was filed with intent to deceive bank
examiner is fact question. (Rem. Comp. Stat. Wash., sec. 2620; banking
act, Wash., sec. 56.) (Ib.)
Extradition—Indictment—Sufficiency.
(U. S. C. C. A. 1930.) Where there is effort to set forth substantially crime
under law of demanding State, court of State of asylum will not inquire
into technical niceties of allegations. (Ib.)
Indictment and information—Sufficiency—Statutory language.
(U. S. C. C. A. 1930.) Indictment following statutory language is ordinarily
sufficient under Washington laws. (Ib.)
MISAPPLICATION OF FUNDS

What constitutes willful misapplication.
(U. S. C. C. A. 1930.) Conviction for misapplication of national bank funds
requires willful misapplication of funds, with intent to injure or defraud
bank. (Read ?;. United States, 42 Fed. Rep.(2d series), 636.)
Evidence held insufficient.
(U. S. C. C. A. 1930.) Evidence held insufficient to sustain conviction for
misapplication of national bank's funds. (Ib.)
Criminal law—instruction to jury.
(U. S. C. C. A. 1930.) Trial judge, unless there is substantial evidence
excluding every other hypothesis but that of guilt, has duty of instructing
verdict for accused. (Ib.)
Criminal law—reversing of judgment.
(U. S. C. C. A. 1930.) Appellate court, where all evidence is as consistent
with innocence as with guilt, has duty of reversing judgment against
accused. (Ib.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY

Argument held prejudicial.
(U. S. C. C. A. 1930.) Argument of prosecuting attorney, conveying idea
that defendants charged with misapplication of bank's funds had kept
fortune while innocent depositors suffered, held prejudicially erroneous.
Argument of prosecutor must be restrained within reasonable limits,
though allowing latitude for effect of heat engendered during trial. (Ib.)
Duty of prosecuting attorney.
(U. S. C. C. A. 1930.) Prosecuting attorne} r has duty to assist in giving
fair trial to defendants. (Ib.)
Appellate court may correct error.
(U. S. C. C. A. 1930.) Failure to take exceptions to remarks of prosecuting attorney did not preclude appellate court from correcting error. (Ib.)
FEDERAL

FARM

LOAN

BANK—CRIMINAL

LIABILITY

OF

EMPLOYEES

Criminal law.
(U. S. C. C. A. 1930.) Purchase from Federal land bank of sheriff's certificate by bank employees, on which they subsequently made profit on redemption by junior mortgagee, held no crime, absent fraud, or collusion. (Federal farm loan act, sec. 31 (12 U. S. C. A., sec. 983).) (Speeter et al, v.
United States, 42 Fed. Rep. (2d series), 937.)
Criminal law.
(U. S. C. C. A. 1930.) No one can be punished for crime against United
States unless facts shown unmistakably constitute offense within Federal
statute. (Ib.)
Statutes.
(U. S. C. C. A. 1930.) Penal statutes are subject to rule of strict construction. (Ib.)
Statutes.
(U. S. C. C. A. 1930.) If penal statutes admits of two reasonable and contradictory constructions, that operating in favor of accused is preferred.
(Ib.)
Statutes.
(U. S. C. C. A. 1930.) Penal statutes will be construed, if possible, to give
effect to legislative intent if that can reasonably be ascertained. (Ib.)
Statutes.
(U. S. C. C. A. 1930.) Statute prohibiting land-bank employee receiving
compensation other than salary or fees, held intended to protect borrower
against exactions, and inapplicable to transactions between employees and
bank. (Federal farm loan act, sec. 31 (12 U. S. C. A., sec. 983).) (Ib.)
OFFSETS
OFFSETS BETWEEN INSOLVENT BANKS AND T H E I R CUSTOMERS

Bank of deposit may offset against deposit of another bank obligations of such bank
after latter1 s insolvency and receivership.
(U. S. C. C. A. 1929.) A bank of deposit may after the insolvency of depositing bank set off against latter's deposit any obligations which it holds
against such bank, notwithstanding insolvency and receivership. (Hookway, Receiver of First National Bank of Frankfort v. First National Bank
of Emmetburg, Iowa, 36 Fed. Rep. (2d series), 166.)
Appeal and error—Questions as to reception of evidence in action tried to court are
not reviewabley in absence of assignments of error.
(U. S. p . C. A. 1929.) On appeal in action tried to court, questions as t o .
admission or rejection of evidence are not reviewable, in absence of assignments of error. (Ib.)
Receiver suing for deposit in other bank is bound by conditions of such deposit.
(U. S. C. C. A. 1929.) Receiver of bank suing to recover deposit in another
bank, and basing his right on credit entry on books of bank of deposit,




REPORT OF THE COMPTROLLER OF THE CURRENCY

213

must also adopt the conditions which attached to such credit entry?
that is, that deposit should not be subject to check until all obligations
of depositing bank were paid; the receiver not being entitled to urge
the illegality of a portion of the transaction and recover as on a general
deposit. (Ib.)
Finding that deposit entries in defendant bank's books were fictions held no basis for
estoppel without findings that transaction to defendant's knowledge was not authorized by other bank.

(U. S. C. C. A. 1929.) In bank receiver's action to recover deposit in
defendant bank, findings that deposit and entries in books of defendant
bank were fictions furnished no basis for estoppel against defendantbank, in the absence of a rinding that the transactions were not known
or authorized by the other bank, or finding that defendant bank knew
that transactions were without knowledge or authority of other bank.
(Ib.)
Contracts—Receiver of bank can not recover on illegal contract between his bank
and another.

(U. S. C. C. A. 1929.) Receiver of insolvent bank can not recover on an
illegal contract between his bank and another; courts withholding their
assistance in all cases in which to recover the illegal contract must be
proved. Dewey, district judge, dissenting. (Ib.)
Bank's deposit in bank agreeing to purchase investment company's notes up to amount
of deposit held properly applied on such notes.

(U. S. C. C. A. 1929.) Where bank solicited agreement with another bank
and a subsidiary investment company for opening of deposit account with
former bank by latter bank in consideration of former purchasing investment company's notes up to amount of deposit, with right to charge them
to such account, court properly applied deposit on notes in suit against
investment company in former bank's action thereon. (Bromfield v.
Trinidad National Investment Co. et al, 36 Fed. Rep. (2d series) 646.)
Bank receiver, suing maker of note to bank, must set off maker's deposit without
express agreement, but can not set off one man's deposit on another's note without
such agreement.

(U. S. C. C. A. 1929.) National bank receiver, suing maker of note to bank,
must set off amount of maker's deposit therein without express agreement,
but can not set off one man's deposit on another's note without such
agreement. (Ib.)
Evidence—Parol evidence of agreement to pay note from particular fund or otherwise
than as specified in instrument is inadmissible.

(U. S. C C. A. 1929.) Parol evidence of agreement that a note shall be paid
out of a particular fund or in any way other than specified in instrument
can not be received. (Ib.)
Evidence—Parol evidence of bank's agreement to purchase investment company's
notes up to amount of another bank's deposit held admissible in action on notes.

(U. S. C. C. A. 1929.) Parol evidence of bank's agreement to purchase
investment company's notes up to amount of deposit maintained by
another bank, which formed investment company, and former bank's
default in its part of agreement, held admissible in its action on notes.
(Ib.)

Evidence—Consideration for note, lack or failure'of consideration for note or terms
of agreement under which note was given, may be shown by parol.

(U. S. C C. A. 1929.) The consideration for a note, lack or failure thereof,
or terms of agreement pursuant to which note was given, may be shown
by parol. (Ib.)
Set-off of bank's deposit in another bank against investment company's notes, purchased by latter bank pursuant to 8-cornered agreement, held allowable as against
objection of lack of privity.

(U. S. C. C. A. 1929.) Set-off of bank's deposit in another bank against
investment company's notes, purchased by latter pursuant to 3-cornered
agreement to purchase such company's notes up to amount of deposit,
held allowable as against objection of lack of privity; such agreement
supplying element of privity, if essential. (Ib.)



214

REPORT OF THE COMPTROLLER OF THE CURRENCY

Bank treating another bank 1and investment company as single institution by contract to purchase company s notes up to amount of latter bank's deposit can not
deny right to set off deposit against notes for lack of privity.

(U. S. C. C. A. 1929.) Bank, treating another bank and investment company
formed thereby as single institution by contract to purchase investment
company's notes up to amount of latter bank's deposit in former bank and
its subsequent conduct, can not change its attitude and deny right to set
off such deposit against amount of notes for lack of privity. (Ib.)
Equity—Equity seeks for substance of transaction.

(U. S. C. C. A. 1929.)

Equity seeks for the substance of a transaction. (Ib.)

Set-off and counterclaim—Set-off doctrine is more flexible in equity than in law.

(U. S. C. C. A. 1929.)
than in law. (Ib.)

The doctrine of set-off is more flexible in equity

Contracts—Consideration is valid, though moving to third party.

(U. S. C. C. A. 1929.)
party. (Ib.)

A consideration is valid, though it move to a third

Receiver of national bank declining to pay proceeds of investment company's notes
to bank making deposit in consideration of former bank purchasing equal amount
of company's notes could not recover thereon.

(U. S. C. C. A. 1929.) Receiver of national bank, declining to pay proceeds
of notes given it by investment company to bank making deposit with
former bank in consideration of its purchasing such company's notes to
approximately amount of deposit, could not recover on notes. (Ib.)
Bank vice president's execution of agreement to purchase investment company's notes
up to amount of another bank's deposit held ratified by bank's subsequent conduct.

(U. S. C. C. A. 1929.) Acts of bank vice president, authorized to solicit
accounts from other banks, in making agreement that bank should purchase investment company's notes up to amount of another bank's deposit therein, were ratified by bank's subsequent conduct in crediting
depositor with face of notes, less discount, and charging them to deposit
account on maturity. (Ib.)

Appeal and error—Order allowing bank to intervene in another bank's action on
investment company's notes, which plaintiff agreed, to purchase up to amount of
intervener's deposit, held harmless.

(U. S. C. C. A. 1929.) Order allowing bank to intervene in action by another
bank's receiver on investment company's notes, acquired by latter bank
pursuant to agreement to purchase such company's notes up to amount of
intervener's deposit with purchasing bank, held harmless, though parties'
rights might have been worked out without intervener's presence, its
presence making more comprehensive decree possible. (Ib.)
Appeal and error—Inadvertent failure to reply to intervener's answer, closely following defendant's answer, to which plaintiff replied, held not ground for reversal of
judgment for defendant and intervener.

(U. S. C. C. A. 1929.) Complaint that plaintiff inadvertently failed to
reply to intervener's answer presented no ground for reversal of judgment
for defendant and intervener, where such answer closely followed defendant's answer, to which there was a reply. (Ib.)
Appeal and error—Bank suing on investment company's notes held not prejudiced
by want of opportunity to explore matter of collections by another bank on securities
held for plaintiff as collateral to notes.

(U. S. C. C. A. 1929.) Bank receiver, suing on investment company's
notes, acquired by bank under agreement to purchase such company's
notes up to amount of another bank's deposit, held not prejudiced by want
of opportunity to explore matter of collections by latter bank on securities
held by it for plaintiff as collateral to such notes, since collateral and proceeds thereof will belong to investment company on payment of notes.
db)



REPORT OF THE COMPTROLLER OF THE CURRENCY

215

Appeal and error—Error in accounting need not be considered on appeal, where trial
court prescribed proper formula and reserved jurisdiction to complete or adjust
accounting.
(U. S. C. C. A. 1929.) Where trial court prescribed proper formula for
stating account, and reserved jurisdiction to complete or adjust accounting,
any error therein need not be considered by appellate court, being correctible by trial court. (Ib.)
Right of debtor to offset against insolvent national bank must be determined in light
of Federal statutes. (12 U. S. C. A. sees. 91, 192, 194.)
(U. S. D. C. 1928.) Right of debtor of insolvent national bank to allowance
of offset must be determined in light of statutes of United States controlling
suspended national banks in hands of receiver, and in the light of 12
U. S. C. A., sections 91, 192, 194, prohibiting preferences in liquidation of
national banks. (McCandless v. Dyar, 34 Fed. Rep. (2d series), 989.)
Right to set-off against insolvent national bank is governed by conditions existing at
moment of bank's insolvency. (12 U. S. C. A., sees. 91, 192, 19 4-)
(U. S. D. C. 1928.) Right to set-off of debtor against insolvent national bank
is governed by conditions existing at moment of insolvency, and not by
conditions created thereafter under 12 U. S. C. A., sections 91, 192, 194,
prohibiting preferences in liquidation of assets of national bank. (Ib.)
As respects set-off, unmatured certificates of deposit issued by national bank became
due on bank's suspension.
(U. S. D. C. 1928.) Certificates of deposit issued by national bank payable
12 months after date as matter of law become due and payable upon date
of suspension of bank, though suspension occurs prior to expiration of year,
as regards right of one guaranteeing payment of certificates to set-off as
against debt due bank. (Ib.)
Debtor guaranteeing national bank's certificates of deposit, in return for bank's
agreement to indemnify him and credit amounts paid under guaranty, could not
set off amounts so paid, where bank became insolvent before certificates matured;
'"preference." (12 V. S. C. A., sees. 91, 192, 194; Rev. Codes S. Dak., 1919, sees.
1505-1510.)
(U. S. D. C. 1928.) One indebted to national bank, who guaranteed payment of bank's certificates of deposit " a t any time after maturity'' by
indorsement on the certificates, and who in return received agreement of
bank, as part of consideration for the indorsement, that it would indemnify
him against all loss because of the indorsement and would credit upon his
indebtedness any amount which he was compelled to pay, held not entitled, on insolvency of bank prior to maturity of certificates, to set off
as against receiver claim for amounts paid under the guaranty of the
certificates, since right to set-off is determined by conditions existing at
time of insolvency, and allowance of set-off would constitute "preference"
under 12 U. S. C. A., sections 91, 192, 194; rights of surety or guarantor
being defined by Revised Code, South Dakota, 1919, sections 1505-1510.
(ib.).
Agreement of national bank to indemnify guarantor on certificates of deposit; if
made in contemplation of insolvency, would be void as giving preference. (12
U. S. C. A., sees. 91, 192, 194.)
(U. S. D. C. 1928.) Agreement of national bank to indemnify one guaranteeing certificates of deposits, and to credit amounts which such guarantor
might be compelled to pay, if made in contemplation of national bank's
insolvency, would be void as attempting to give preference in violation of
12 U. S. C. A., sees. 91, 192, 194. (Ib.)
POWERS
Powers of national banks.
(U. S. D. C. 1930.) National banks can not generally exercise any powers
except those expressly granted or incidental to carrying on business.
(Williams v. Merchants' Nat. Bank of St. Cloud et al., 42 Fed. Rep.
(2d series), 243.)
22439°—31
15



216

REPORT OF THE COMPTROLLER OF THE CURRENCY

When a national bank may take collateral and become subject to shareholder's
liability.

(U. S. D. C, 1930.) National bank may, as incidental to power to loan
money, take, as collateral, stock of another corporation and become subject
to stockholder's liability. (Ib.)
When national bank taking real estate may pay off encumbrances. -

(U. S. D. C. 1930.) Right of national bank to take real estate in satisfaction
of debts includes incidental right to purchase outstanding titles and
interest and pay off incumbrances. (12 U. S. C. A., sec. 29.) (Ib.)
Disposal of real estate by national bank.

(U. S. D. C. 1930.) National bank, obliged to take real estate in satisfaction
of debt, must dispose of it solely for cash or equivalent. (12 U. S. C. A.,
sec. 29.) (Ib.)
Exchange of land taken by national bank for equity in other lands assuming mortgages
thereon ultra vires.

(U. S. D. C. 1930.) Exchange of land taken by national bank in satisfaction
of debt for equity in other lands with assumption of mortgage thereon was
ultra vires. (12 U. S. C. A., sec. 29.) (Ib.)
SHAREHOLDERS
ASSESSMENT OF SHAREHOLDERS

Page
W H O DEEMED TO BE SHAREHOLDERS FOR ASSESSMENT, I
LIABILITY OF ESTATES
ACTIONS TO ENFORCE LIABILITY

216
217
218

STATE BANKS
LIABILITY OF SHAREHOLDERS OF GEORGIA STATE BANK

219

WHO DEEMED TO BE SHAREHOLDERS FOR ASSESSMENT

When title to stock in a national bank passes.

(U. S. Sup. 1930.) When the purchaser of stock of a national bank receives
from the seller the certificates properly indorsed, title passes and the transfer is complete as between the parties; and, as between them, the purchaser alone becomes liable for assessments thereafter imposed on the
shares. (Early, Receiver, v. Richardson, 280 U. S. R. 496.)
Actual owner of stock liable for assessment although his name does not appear upon
the books of the bank.

(U. S. Sup. 1930.) The actual owner of stock of a national bank may be
held for an assessment thereon although his name does not appear upon
the transfer books of the bank. (Ib.)
One who purchases stock of a national bank and has transfers made to his minor
children is personally liable for assessment on the stock, as the transferees, being
minors, are without legal capacity to assume the obligation.

(U. S. Sup. 1930.) One who in good faith purchases stock of a national bank
with the intention of making a gift thereof to his minor children, and
causes the transfer to be made to them upon the books of the bank and
certificates to be issued in their names, is, nevertheless, liable for assessments on the stock made subsequently for the benefit of creditors, when
the bank becomes insolvent, since the transferees, being minors, are
without legal capacity to assume the obligation, and the transfer, having
resulted to their disadvantage, will be avoided for them by the law.
(ib.)
Purchase of stock of national bank by party as a gift for his minor children does not
make the purchaser a trustee for the minors.

(U. S. Sup. 1930.) One who purchases stock of a national bank with his
own money as a gift for his minor children, and causes the certificates to
be issued and registered in their names, does not become a trustee for the
minors. (Ib.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

217

Actual owner of stock in a national bank must respond to statutory liability.
(U. S. C. C. A. 1930.) Actual owner of stock in national bank must
respond to statutory liability, though stock is carried in name of another.
(Pufahl v. Fidelity National Bank of Oklahoma City, 40 Fed. Rep. (2d
series), 25.)
Pledgee of national bank stock not liable unless he held himself out as owner and
not subject to liability because stock is carried in name of irresponsible third party.
(U. S. C. C. A. 1930.) Pledgee of national bank stock is not subject to
statutory liability unless he has held himself out as owner.
Pledgee of national bank stock is not subject to statutory liability
merely because stock is carried in name of irresponsible third party.
(Ib.) "
Evidence.
(U. S. C. C. A. 1930.) Evidence supported finding that bank, as respected
stockholder's liability, was merely pledgee of stock in failed national
bank. (Ib.)
Evidence.
(U. S. C. C. A. 1930.) Books of bank showing cancellation of indebtedness
for which stock had originally been pledged, held not conclusive.
(Books not being conclusive, evidence may be received to effect that
the stock was to have been transferred to a third party for the benefit of
both debtor and bank, with agreement that in case of sale by either party
the excess of the sale price should be paid over to the debtor.)
(Ib.)
Appeal and error.
(U. S. C. C. A. 1930.) Findings of trial court are entitled to great respect
even in equity. (Ib.)
National bank stockholder, surrendering stock for sale to pay assessment by directors,
held not relieved from subsequent assessment by Comptroller of Currency. {12
U. S. C. A., sees. 55, 63.)
(U. S. C C. A. 1929.) Surrender by stockholder of national bank of stock
to be sold to pay 65 per cent assessment made by board of directors under
Revised Statutes, section 5205 (12 U. S. C. A., sec. 55), held not to relieve
him from liability for subsequent assessment of 100 per cent made by
Comptroller of Currency under Revised Statutes, section 5151 (12 U. S.
C. A., sec. 63), where bank officers did not perform duty to sell stock and
stockholder appeared on books of bank as owner, since there is presumption
of legal liability arising from presence of stockholder's name on stock
register at time of bank's failure. (Brunner et al. v. Johnson; Johnson v.
Brunner et al., 35 Fed. Rep. (2d series), 493.)
Where certificate representing stock of A and B was surrendered, new certificate
being issued to B, A held not liable for subsequent assessment on stock represented
by second certificate.
(U. S. C. C. A. 1929.) Where certificate for 20 shares of national bank stock
was held by A as trustee for himself and B, but subsequently new certificate
was issued to B for 10 shares of original 20 and first certificate was surrendered to bank for sale to make good assessment due on A's stock,
holding that A was not liable for subsequent assessment on 10 shares
represented by second certificate was affirmed, in view of fact that such
decision makes for substantial justice. (Ib.)
Pleading—Allegations of answers and amendments must be taken as true for purpose
of demurrer.
(U. S. C. C. A. 1929.) Where no evidence was introduced, allegations of
answers and amendments thereto for purpose of demurrer must be taken
as true. (Ib.)
LIABILITY OF ESTATES

Allegations that executrix applied to close estate before assessment of testator's bank
stock to prevent receiver from filing claim conferred equity jurisdiction.
(U. S. C. C. A. 1929.) Allegations of petition, in action by national bank
receiver for stock assessment ordered by Comptroller of Currency, that



218

REPORT OF THE COMPTROLLER OF THE CURRENCY
defendant, who was sole executrix and devisee of deceased stockholder's
estate, made application to close estate and order distribution before
comptroller could make assessment, thereby endeavoring to prevent
plaintiff from filing claim against estate, which was solvent, held to confer
jurisdiction in equity. (Luce v. Thompson, 36 Fed. Rep. (2d series), 183.)

Courts—Expiration of time under State statute for filing claims does not bar action
for subsequent assessment of testator's national bank stock. {12 U. S. C. A., sees.
63, 66.)

(U. S. C. C. A. 1929.) Fact that period under State statute for filing claims
against estate has expired is no bar to action to fix liability of executrix
for subsequent assessment on decedent's stock in national bank under
Revised Statutes, sections 5151, 5152 (12 U. S. C. A., sees. 63, 66), and
administration may be reopened under some circumstances for presentation and allowance of claim which did not accrue or become enforceable
until after closing. (Ib.)
Descent and distribution—Heir is liable to ancestor's creditor, whose claim accrued
after estate was closed, for value of both personalty and realty received.

(U. S. C. C. A. 1929.) Heir is liable to ancestor's creditors for value of personalty, as well as real estate, received, if ancestor's estate was settled and
closed before claim accrued. (Ib.)
National bank receiver could follow deceased stockholder's assets into devisee's hands
to collect stock assessment ordered after estate was closed. {12 U. S. C. A., sec. 66.)

(U. S. C. C. A. 1929.) Receiver of national bank held entitled to follow
assets of deceased stockholder into hands of sole beneficiary under his
will to collect assessment ordered by Comptroller of Currency after estate
was closed and its entire assets distributed, without reopening estate and
establishing claim against such beneficiary as executrix under Revised
Statutes, sees. 5151, 5152. (12 U. S. C. A., sees. 63, 66.) (Ib.)

Executrix, applying to close estate and disclaiming interest in testator's national bank
stock shortly after bank closed, held liable as devisee for subsequent stock assessment. {12 U. S. C. A., sees. 63, 66.)

(U. S. C. C. A. 1929.) Executrix, filing application to close estate within
12 months after last publication of notice to creditor and only five days
after learning that national bank, in which testator owned stock, had
closed, and formally disclaiming all interest in such stock but three weeks
after bank closed, held liable as sole devisee for stock assessment ordered
after estate was closed and assets distributed; such facts justifying finding
that she had estate closed to avoid liability for assessment under Revised
Statutes, sections 5151, 5152. (12 U. S. C. A., sees. 63, 66.) (Ib.)
ACTIONS TO ENFORCE LIABILITY

National bank receiver, suing transferor of stock for assessment, need not allege
transferees were insolvent.

(U. S. C. C. A. 1929.) Receiver of national bank, suing transferor of stock
for 100 per cent assessment, need not allege in complaint that transferees
were insolvent, since it is a defensive matter. (Cooley v. Armstrong,
35 Fed. Rep. (2d series) 401.)
National bank receiver, suing stockholder for assessment, need not allege that 100 per
cent assessment was necessary.

(U. S. C. C. A. 1929.) Receiver of national bank, suing transferor of stock
for 100 per cent assessment on stock, need not allege that the 100 per cent
assessment was necessary to retire indebtedness of institution pro rata for
all stockholders at time of transfer of stock by defendant, since, if amount
assessed was unnecessary, it was matter of defense. (Ib.)
National bank stockholder could not evade impending liability for assessment by
colorable transfer of stock.

(U. S. C. C. A. 1929.) National bank stockholder could not evade impending liability for assessment as stockholder by colorable transfer of his
stock. (Ib.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

219

Burden was on national bank receiver, suing transferor of stock for assessment, of
showing transferor knew or should have known bank was insolvent at lime of
transfer.

(U. S. C. C. A. 1929.) In action by receiver of national bank against
transferor of stock to recover assessment, burden was on plaintiff to show
that at time of transfer bank was insolvent, and that transferor either had
knowledge of that fact or had knowledge of other facts which would lead
reasonable person to believe bank was insolvent. (Ib.)
National bank stockholder, transferring stock knowing bank was insolvent,
liable for assessment, unless he showed tranferees were solvent.

was

(XJ. S. C. C. A. 1929.) National bank stockholder, transferring stock when
bank was insolvent, and when he either knew or had knowledge of facts
which would lead reasonable person to believe bank was insolvent, was
liable for assessment on stock, unless he showed he made transfer to people
who were solvent. (Ib.)
In action to recover bank stock assessment from transferor, evidence defendant believed bank would become insolvent, if present officers continued in control, held
inadmissible.

(U. S. C. C. A. 1929.) In action against transferor of stock to recover
assessment, evidence that defendant had sought and received advice from
witness whether he should pay 50 per cent assessment levied on stock
before transfer, and tending to show that defendant believed, bank would
become insolvent, if present officers continued in control, held inadmissible,
since they were not expressions of bodily or mental feelings. (Ib.)
STATE BANKS
LIABILITY OF SHAREHOLDERS OF GEORGIA STATE BANK

This court will not assume, in absence of construction by State court, that, under
Georgia banking law, notice to stockholder of assessment meeting was not required
or that that actually given was insufficient.

(TJ. S. Sup. 1930.) A Georgia statute provides that, upon being required by
the superintendent of banks to make good an impairment of capital by an
assessment upon stockholders, the officers and directors of a bank shall
call a special meeting of the stockholders for the purpose of making such
assessment. In a case from the State court in which a stockholder challenged an assessment, under the due process clause of the fourteenth
amendment, held that, in the absence of a controlling decision by the State
court, it can not be assumed either that notice of the stockholders' meeting
at which the assessment was made was not required by the State law, or
that a notice actually given by mailing it 15 days before the meeting,
addressed to the stockholder a t his address last known to the bank, was
insufficient. (Toombs v. Citizens Bank of Waynesboro, 281 U. S. R. 643.)
Attacking statute—Complainant has burden of proving invalidity, and doubts must
be resolved in favor of State.
(U. S. Sup. 1930.) In assailing the constitutionality of a State statute the
burden rests upon the complainant to establish t h a t it infringes the constitutional guarantee which he invokes. If the State court has not otherwise
construed it, and it is susceptible of a n interpretation which conforms to
constitutional requirements, doubts must be resolved in favor of the
State. (169 Ga. 115, affirmed.)
(Ib.)
TAXATION
F E D E R A L TAXATION:
I N GENERAL
DEDUCTIONS
EXCESS PROFITS T A X
TAXATION O F CONSOLIDATED BANKS
TAXATION O F REORGANIZED BANKS
TAXATION OF AFFILIATED CORPORATIONS
TAXATION OF J O I N T STOCK LAI^D BANKS




Page
220
221
221
222
222
222
223

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KEPORT OF THE COMPTROLLER OF THE CURRENCY
Page

STATE TAXATION:
IDAHO
IOWA
KANSAS
MISSISSIPPI
NEW YORK
OKLAHOMA
TENNESSEE
WASHINGTON

224
225
227
228
228
229
230
230
FEDERAL TAXATION
IN GENERAL

Internal revenue—Commissions deducted from mortgage loan paid to borrower held
properly returned as income when loan was discounted or paid not when made.
(U. S. C. C. A. 1930.) Where bank in negotiating mortgage loans on realty
in addition to regular interest charged fee of 2 per cent for services in
connection with loan and deducted commission from amount paid to
borrower, commissions were not returnable as income at time loans were
made to borrowers but were properly returnable as income when loan
was discounted or paid, since commission is not actually received until
bank receives back what it has paid out plus commission. (Blair, Commissioner of Internal Revenue, v. First Trust & Savings Bank of Miami,
Fla., 39 Fed. Rep. (2d series) 462.)
Taxation of commissions charged by bank,
(U. S. C. C. A. 1930.) Commission charged by bank making loan, commission being deducted from amount of loan, held accrued income, where
books were kept on accrual basis. (Columbia State Sav. Bank v. Commissioner of Internal Revenue, 41 Fed. Rep. (2d series) 923.)
Internal revenue—Interest accrued on books of bank held not taxable "income"
where corporation procuring loan passed into receivership, and market value of
claim for interest only partly collected several years later was not shown.

(U. S. C. C. A. 1930.) Item of accrued interest entered on books of bank,
kept on accrual basis, representing interest on loan to corporation which
at close of year went into receiver's hands, held not taxable as income,
where the claim for interest only yielded part of amount due after years
of delay, and there was no proof as to the value of the claim during the
taxable year, since probability was that income would not be received at
least within a reasonable time. (Corn Exchange Bank v. United States,
37 Fed. Rep. (2d series), 34.)
Internal revenue—Bookkeeping entries incorrectly reflecting income do not estop
taxpayer.
(U. S. C. C. A. 1930.) Bookkeeping entries which do not correctly reflect
income do not estop taxpayer from questioning taxation. Swan, circuit
judge, dissenting. (Ib.)
Internal revenue—Double taxation will be avoided whenever taxing authorities have
jurisdiction to prevent it.

(C. A. of Dist. of Col. 1929.) Double taxation is to be abhorred and will be
avoided whenever the taxing authorities are vested with jurisdiction to
prevent it. (National Bank of South Carolina v. Lucas, Commissioner of
Internal Revenue, 36 Fed. Rep. (2d series), 1013.)
Internal revenue—Internal Revenue Commissioner has discretionary power to credit
return of one year with amount included therein returned and taxed in prior year.
(Revenue act 1918, sec. 212 (6), 218.)
(C. A. of Dist. of Col. 1929.) Under revenue act 1918, section 212 (b), 40
Stat. 1064, providing that, if taxpayer's method of accounting does not
clearly reflect income, computation shall be made on such basis and in
such manner as in commissioner's opinion clearly reflects income, and
section 213 (40 Stat. 1065), providing, after enumerating taxable income
items, that amount of all such items shall be included in gross income for
taxable year in which received, unless, under methods of accounting permitted by section 212 (b), any such amounts are to be properly accounted




REPORT OF THE COMPTROLLER OF THE CURRENCY

221

for as of a different period, Commissioner of Internal Revenue lias sufficient discretionary power to credit return of one year with amount included therein which had previously been returned and taxed in a prior
year. (Ib.)
Internal revenue—Bank changing from accrual to cash basis of accounting held entitled to credit for discounts received and which had previously been taxed under
accrual basis. (Revenue act 1918, sees. 212 (6), 213; Regulations 45, arts. 22, 23.)
(C. A. of Dist. of Col. 1929.) National bank which kept its books during
1918 on accrual basis so far as accounting for discounts was concerned, but
thereafter changed to cash basis, and in making returns for 1919 included
in gross income all discounts received, as required by revenue act 1918,
section 212 (b), 40 Stat. 1064, including earned discounts reported in 1918
return and on which it had been taxed, held entitled to a credit for discounts
which had accrued in 1918 and on which it had been previously taxed, under
said statute, section 213 (40 Stat. 1065), and Regulations 45, articles 22, 23,
as against contention that change to cash basis was made without commissioner's approval, where commissioner acquiesced therein for about
five years before questioning return and until limitations prevented
petitioner seeking relief in court. (Ib.)
DEDUCTIONS

Statutes.
(Ct. Appeals D. C. 1930.) Treasury Department's equitable and reasonable
interpretation of income tax statute, apparently approved by Congress,
will be followed, as against more technical interpretation of Board of Tax
Appeals. (Revenue act 1921, sec. 234 (a) (5), reenacted by revenue act
1924, sec. 234 (a) (5), and revenue act 1926, sec. 234 (a) (5), 26 U. S. C. A.
sec. 986 (a) (5).) (Commonwealth Commercial State Bank v. Lucas,
Commissioner of Internal Revenue, 41 Fed. Rep. (2d series), 111.)
Internal revenue.
(Ct. Appeals D. C. 1930.) Ninety per cent of amount of bonds of Imperial
Russian Government held deductible as bad debt loss. (Revenue act 1921,
sec. 234 (a) (5), reenacted by revenue act 1924, sec. 234 (a) (5), and revenue
act 1926, sec. 234 (a) (5), 26 U. S. C. A. sec. 986 (a) (5).)
(After the Soviet Government repudiated the financial obligations of the
Imperial Russian Government, including the bonds in question, the State
bank examiner directed bank to write such bonds off its books to the full
extent of their par value. The Board of Tax Appeals found, however, that
at the close of the year 1921 each class of such bonds ¥/as quoted on the
exchange at about 10 per cent of par value.) (Ib.)
EXCESS PROFITS TAX

Internal revenue—-Excess profits taxes—Abnormal conditions—Exceptional hardships—Existence—-Determination—Administrative function.
(U. S. C. C. A. 1930.) Whether abnormal conditions exist and exceptional
hardships will result calling for special assessment of excess profits taxes
held within administrative discretion, absent fraud or other irregularities.
(Revenue act 1918, sees. 327 (d), 328.)
(Revenue act 1918, sees. 327 (d), 328 (40 Stat. 1093), authorizes special
assessment for excess profits taxes where ordinary rules of assessment would
work exceptional hardship evidenced by gross disproportion between tax
computed without benefit of section and tax computed by reference to other
representative corporations.) (National Bank of Commerce of Seattle,
Wash., v. United States, 39 Fed. Rep. (2d series), 434.)
Internal revenue—Excess profits taxes—Refund—Complaint—Sufficiency.
(U. S. C. C. A. 1930.) Complaint for refund of excess profits taxes paid
merely showing tax was erroneously determined, if anything, held insufficient.
(Complaint alleged in substance that Commissioner of Internal Revenue
erroneously determined that deposits in bank were not to be considered
borrowed capital within meaning of that term as used in administration of
the tax laws. No other allegations of fraudulent conduct or irregularities
were made. (Ib.)




222

REPORT OF THE COMPTROLLER OF THE CURRENCY

Internal revenue—Complaint by banks for refund of excess profits taxes paid, not
alleging plaintiffs were discriminated against and not taxed as other representative
corporations engaged in similar business, held insufficient. (Revenue act 1918,
ox>/»o

t

^ory

<Q®Q

\

' (U. S. D. C. 1928.) Complaint by national banks for refund of excess profits
tax paid held insufficient to state cause of action, under revenue act 1918,
sections 327, 328 (40 Stat. 1093), where there was no allegation that plaintiffs were discriminated against and not taxed in the same ratio to the net
income as the average of representative corporations engaged in a like or
similar trade or business. (National Bank of Commerce of Seattle v.
U. S. of America; First National Bank of Seattle v. U. S., 34 Fed. Rep.
(2d series), 203.)
Fraud—Fraud is never presumed.
(U. S. D. C. 1928.) Fraud is never presumed, and must be directly charged.
(Ib.)TAXATION OF CONSOLIDATED BANKS

Taxation of consolidated banks.
(U. S. C. C. A. 1930.) Interest items collected by consolidated bank held
taxable, where merger agreement specifically omitted accrued interest in
determining capital furnished by merging bank. (Revenue act 1918, sees.
213a, 325a, 326a (40 Stat. 1065, 1091, 1092).) (Pontiac Commercial
& Savings Bank v. Commissioner of Internal Revenue, 41 Fed. Rep.
(2d series), 602.)
TAXATION OF REORGANIZED BANKS

Internal revenue.
(Ct. Appeals D. C. 1930.) Provision in revenue act for computing invested
capital in case of reorganization of trade or business held to include reOrganization of corporation. (Revenue act 1918, sec. 331.)
(Revenue act 1918, sec. 331 (40 Stat. 1057), provides that, in case of
reorganization of trade or business, or change of ownership of property, if
interest or control in such trade or business or property of 50 per cent or
more remains in same persons, then no asset transferred shall, for purpose
of determining invested capital, be allowed greater value than would have
been allowed in computing invested capital of such previous owner if
assets had not been transferred.) (W. A. Sheaffer Pen Co. v. Lucas,
Commissioner of Internal Revenue, 41 Fed. Rep. (2d series), 117.)
Internal revenue.
(Ct. Appeals D. C. 1930.) Word "control," used in provision of revenue
act for determining invested capital in case of reorganization if control
remained in previous owners, when applied to corporation, relates to
control by stockholders. (Revenue act 1918, sec. 331.) (Ib.)
Statutes.
(Ct. Appeals D. C. 1930.) Court may properly look to subsequent legislation as aid in statutory construction. (Ib.)
Corporations.
(Ct. Appeals D. C. 1930.) Assets and property of corporation are property
of corporation as entity, and not of its stockholders. (Ib.)
Corporations.
(Ct. Appeals D. C. 1930.) Control of corporation is in its stockholders.
(Ib.)
TAXATION OF AFFILIATED CORPORATIONS

Internal revenue—Income taxes—Affiliated corporations—Consolidated return.
(U- S. C. C. A. 1930.) Corporations affiliated during first five months of
tax year held properly required to file consolidated return for such months.
(Revenue act 1918, sec. 240 (a).)
(Revenue act 1918, sec. 240 (a), 40 Stat. 1081, requires affiliated corporations to make consolidated return of net income and invested capital.)
(Fidelity National Bank & Trust Co. of Kansas City, Mo., v. Commissioner of Internal Revenue, 39 Fed. Rep. (2d series), 58.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

223

Statutes—Ambiguous statute—Reasonable construction.

(U. S. C. C. A. 1930.) Statute should be reasonably construed to carry out
objects, where meaning is not perfectly clear. (Ib.)
Statutes—Income taxes—Affiliated corporations—Fractional
partmental construction of statute.

year

returns—De-

(U. S. C. C. A. 1930.) Construction of statute by Internal Revenue Commissioner and Secretary of Treasury as requiring fractional year returns
by corporations affiliated during portion of tax year is persuasive. (Revenue act 1918, sec. 240 (a); revenue act 1921; revenue acts 1924 and 1926,
26 U. S. C. A., sec. 993.)
(Revenue act of 1918, sec. 240 (40 Stat. 1081), was substantially reenacted in revenue act of 1921 (42 Stat. 260), and revenue acts 1924 and
1926 (43 Stat. 288, 44 Stat. 46 (26 U. S. C. A., sec. 993)), without any
change indicating that Internal Revenue Commissioner's regulations
requiring such returns were not in accordance with proper construction
of sections. (Ib.)
Internal revenue—Income taxes—Losses—Transfer
Intercompany transactions.

of

securities—Deduction-

(U. S, C. C. A. 1930.) Bank's loss from transfer of securities to affiliated
trust company held properly disallowed as deduction from gross income,
though company subsequently withdrew from affiliated group. (Revenue act 1918, sees. 234 (a) (4), 240 (a).)
(Revenue act 1918, sec. 234 (a) (4), 40 Stat. 1077, provides for deduction of losses sustained during taxable year in computing corporation's
net income, while section 240 (a) requires consolidated returns by affiliated
corporations.) (Ib.)
TAXATION OF JOINT-STOCK LAND BANKS

Internal revenue—Interest paid by joint-stock land banks on bonds is not deductible
from income. {Revenue act 1921, sec. 23% (a) {2),)

(U. S. Court of Claims, 1930.) In determining income tax liability, interest
paid by joint-stock land banks on their joint-stock land bank bonds is
not deductible from income under revenue act 1921, sec. 234 (a) (2),
42 Stat. 254. (First National Bank of Chicago v. United States, 38 Fed.
Rep. (2d series), 925.)
Internal revenue—Bonds issued by joint-stock land bank were not "indebtedness
incurred or continued to 'purchase' or 'carry' obligations or securities" of borrowing farmers represented by their notes and mortgages, within law relating to deduction of interest. {Revenue act 1921, sec. 284-)

(U. S. Court of Claims, 1930.) Indebtedness of joint-stock land banks by
reason of bonds issued in order to procure funds to loan to farmers on their
notes secured by first mortgages does not constitute an indebtedness
incurred or continued to purchase or carry obligations or securities of
borrowing farmers represented by their notes and mortgages, within the
meaning of the exception to interest deduction clause of revenue act 1921,
sec. 234, 42 Stat. 254, in that the words "purchase" and "carry," unless
given a technical meaning different from that in which they are ordinarily
used, are apt words and characterize precisely the acquisition of and
holding of farmers' notes and mortgages by a joint-stock land bank. (Ib.)
Internal revenue—Notes and mortgages owned by joint-stock land bank were ''obligations7' or "securities" within law relating to deduction of interest. {Revenue
act 1921, sees. 234, 213 {b) (4).)

(U. S. Court of Claims, 1930.) Farmers' notes and mortgages given to jointstock land bank created under the Federal farm loan act (12 U. S. C. A.,
sec. 641 et seq.) were obligations or securities within meaning of the
exception to the interest deduction clause of revenue act 1921, sec. 234,
42 Stat. 254, the interest upon them being specifically exempted from
taxation under section 213 (b) (4), and "obligation" being a generic word
and including all kinds of contracts by which contracting parties bind
themselves, and "security" being a term usually applied to obligation,
pledge, mortgage, deposit given by debtor in order to make secure payment or performance of his debt. (Ib.)



224

REPORT OF THE COMPTROLLER OF THE CURRENCY

Statutes—Courts, where language used in statute is free from ambiguity, must
assume legislative intent to be what plain meaning of words imports.
(U. S. Court of Claims, 1930.) Framers of a statute are presumed to know
and understand the meaning of words used, and where language used is
clear and free from ambiguity and not in conflict with other parts of the
same act, the courts must assume legislative intent to be what plain
meaning of words used imports. (Ib.)
Internal revenue—Denial of deduction for interest paid on farm loan bonds by
joint-stock land bank did not impose burden contrary to intent of law. {Federal
farm loan act 1916 {12 U. S. C. A., sec. 641 et seq.); revenue act 1921, sec. 234
(a) {2).)
(U. S. Court of Claims, 1930.) Refusal to permit joint-stock land bank
organized under Federal farm loan act 1916 (39 Stat. 360, 12 U. S. C.A.
sec. 641 etseq.) to deduct interest paid on farm loan bonds in determining
income held not to impose .a burden on joint-stock land bank contrary
to intent of farm loan act, and not contemplated in exception to interest
deduction clause of revenue act 1921, section 234 (a) (2), 42 Stat. 254.
(Ib.)
Statutes—Intent of lawmaker is to be found in language of statute.
(U. S. Court of Claims, 1930.) It is a fundamental rule of statutory construction that the intent of the lawmaker is to be found in the language
of the statute. (Ib.)
Constitutional law—Plain meaning of statute can not be changed by courts on theory
there existed in minds of framers latent, unexpressed intent.
(U. S. Court of Claims, 1930.) Courts can not by interpretation change
the plain meaning of a statute on the theory that there existed in minds
of its framers latent unexpressed intent not conveyed in language used.
(Ib.)
STATE TAXATION
IDAHO

Taxation—National bank suing county and tax collector to recover taxes paid by it
on capital stock held ureal party in interest." {Comp. St. Idaho 1919, sec. 8297,
as amended by Laws 1927, ch. 84; sees. 8302, 3303.)
(U. S. D. C. 1930.) National bank suing county and its treasurer and tax
collector to recover sum paid under protest to tax collector as taxes
levied on bank's capital stock, under Comp. St. Idaho 1919, section 3297,
as amended by Laws 1927, chapter 84, held real party in interest, since
Comp. St. Idaho 1919, section 3302, makes bank liable for payment of
taxes assessed to its stockholders, and owners of shares are liable to bank
for taxes so paid, and bank is given lien on the stock for the amount
paid under section 3303. (Boise City National Bank v. Ada County
et al., 37 Fed. Rep. (2d series), 947.)
Taxation—Statute limiting rate of taxation on shares of national banks to rate
assessed on "other moneyed capital" applies to capital coming into substantial
competition with business of national banks. {12 U. S. C. A., sec. 548.)
(U. S. D. C. 1930.) Phrase, "other moneyed capital/'in Revised Statutes,
section 5219, as amended (12 U. S. C. A., sec. 548), providing that taxation
of shares of national banks shall not be at a greater rate than is assessed
upon other moneyed capital in the hands of individual citizens of the State,
does not embrace all moneyed capital not invested in bank shares, but that
which is employed in such a way as to bring it into substantial competition with the business of national banks. (Ib.)
Taxation—Tax on national bank stock, based on actual value as shown by bank's
capital and surplus, including secured credits, held void, where such credits in
hands of individuals were exempt. {12 U. S. C. A., sec. 548; Comp. St. Idaho
1919, sec. 8297, as amended by Laws 1927, ch. 84; sec. 3099, as amended by Laws
1927, ch. 145.)
(U. S. D.C. 1930.) Tax on capital stock of national banks, under Comp. St.
Idaho 1919, section 3297, as amended by Laws 1927, chapter 84, whereby
bank stock is assessed on basis of actual value as shown by capital and
surplus of bank, and whereby credits secured by mortgages, trust deeds,




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225

or other liens are included in assets and reflected in value of stock, held
void, because violating Revised Statutes, section 5219, as amended
(12 U. S. C. A., sec. 548), which sanctions taxation of shares in national
banks, subject to restriction that taxation shall not be at a greater rate
than is assessed upon other moneyed capital in the hands of individual
citizens of the State, in view of the fact that dues and credits secured by
mortgages, trust deeds, or other liens, except when held by banks, are
exempt from taxation under Comp. St. Idaho 1919, section 3099, as amended by Laws 1927, chapter 145. (Ib.)
Pleading—Demurrer admits truth of facts recited in complaint.
(U. S. D. C. 1930.) Truth of facts recited in complaint is admitted by
demurrer. (Ib.)
Taxation—Property and shares of national banks can not be taxed by State, except
as Congress consents,
(U. S. D. C. 1930.) National banks are agencies of the United States, and
their property and shares can not be taxed under State authority, except
as Congress consents, and then only in conformity with regulations
attached to its consent. (Ib.)
IOWA

Taxation—Administrative remedies must be exhausted before resort can be had to
court.
(U. S. C. C. A. 1930.) All adequate administrative remedies, in matters of
taxation, must be exhausted before resort can be had to court.
National banks, before entitled to sue to restrain collection of illegal
stock taxes, held required to exhaust administrative remedy of appeal
from assessor to board of review. (Code Iowa 1924, sees. 7129, 71327134, 7136.) (Nelson, County Treasurer, v. First National Bank of Sioux
City, Iowa; Same v. Security Nat. Bank of Sioux City, Iowa, 42 Fed.
Rep. (2d series), 30.)
Constitutional law,
(U. S. C. C. A. 1930.) State may clothe its courts with purely legislative
(administrative) powers, and when exercising those powers, its officers
and machinery are being used in legislative character. (Ib.)
(U. S. C. C. A. 1930.) When administrative stage of action is completed,
judicial power of court may begin, and not before if that administrative
procedure affords adequate protection. (Ib.)
(U. S. C. C. A. 1930.) Where judicial stage of court's powers begins, parties
may resort to any tribunal having jurisdiction. (Ib.)
Court acts judicially and not in administrative capacity.
(U. S. C. C. A. 1930.) Iowa district court, on appeal from board of review
in matters of taxation, acts judicially and not in administrative capacity.
(Code Iowa 1924, sees. 7134, 7136.) (Ib.)
National ba?iks not required to apply for refund before asking injunction,
(U. S. C. C. A. 1930.) National banks, as condition precedent to injunction
to restrain collection of excessive capital stock taxes, held not required to
apply for refund. (Code Iowa 1924, sec. 7235.) (Ib.)
Moneyed capital.
(U. S. C. C. A. 1930.) Fact that national banks returned property as
"moneys and credits" held not to preclude subsequent contention that
same class constituted "moneyed capital," absent showing of prejudice.
(Ib.)
Moneys and credits employed in loans and purchasing notes—Moneyed capital.
(U. S. C. C. A. 1930.) Moneys and credits employed in various loans or in
purchasing various notes and securities held "moneyed capital in competition with national banks." (12 U. S. C. A., sec. 548.) (Ib.)



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KEPORT OF THE COMPTROLLER OF THE CURRENCY

Constitutional law—Taxation—State taxing statutes, as construed, held not to contravene equal protection clause as applied to taxation of shares of national bank
and land bank. (Code Iowa 1927, sees. 6984, 6985, 6987, 6988, 6992, 6998,
7003, 7005, 7006, 7007-al; Const. U. S. amend. 14.)
(U. S. D. C. 1930.) Code Iowa 1927, sections 6984, 6985, 6987, 6988, 6992,
6998, 7003, 7005, 7006, 7007-al, relating to taxation, as construed, held
not to contravene equal protection of law clause of Constitution of the
United States, amendment 14, in so far as they applied to taxation of
shares of national banks and of Federal joint-stock land bank. (Toy
Nat. Bank of Sioux City, Iowa, v. Nelson, County Treasurer, et al.; Iowa
Joint-Stock Land Bank of Sioux City, Iowa, v. Same; Security Nat.
Bank of Sioux City, Iowa, v. Same, 38 Fed. Rep. (2d series), 261.)
Taxation—State taxing statutes, as construed, held not to contravene Federal statute
prohibiting State from taxing national-bank shares at greater rate than other
moneyed competing capital. (Code Iowa 1927, sees. 6984, 6985, 6987, 6988,
6992, 6998, 7003, 7005, 7006, 7007-al; 12 U. S. C. A., sees. 548, 932.)
(U. S. D. C. 1930.) Code Iowa 1927, sections 6984, 6985, 6987, 6988, 6992,
6998, 7003, 7005, 7006, 7007-al, relating to taxation, as construed, held
not to contravene Revised Statutes, United States, sectioii 5219 (12
U. S. C. A. sec. 548), prohibiting State from taxing shares in national
banks at greater rate than is assessed upon other moneyed capital in
hands of indivdual citizens coming into competition with business of
national banks, and act of Congress, July 17, 1916, section 26, 39 Stat.
380 (12 U. S. C. A. sec. 932), relating to land banks. (Ib.)
Taxation—Petition alleging State officials taxed national banks and Federal land
bank at 150 mills, whereas competing moneyed capital was taxed at 5 and 6 mills,
and other acts of discrimination, held to show violation of Federal statute. (Code
Iowa 1927, sees. 6984, 6985, 6987, 6988, 6992, 6998, 7003, 7005, 7006, 7007-al;
12 U. S. C. A., sees. 548, 932; Const. U. S., amend. 14.)
(U. S. D. C. 1930.) Petition alleging in effect that State taxing officials
taxed shares in national banks and in Federal land bank at greater rate
than that imposed on other moneyed capital coming in competition with
national banks, by taxing national banks and Federal joint-stock land bank
at rate of approximately 150 mills on dollar, while other moneyed capital
in substantial competition was taxed at 5 mills for one year and 6 mills on
dollar for other years, and that plaintiff banks were not permitted to
deduct, from valuations of their stock, individual indebtedness of stockholder, whereas owners of other moneyed capital in competition with
plaintiffs were permitted to make such deductions, held to show violation
by State taxing officials and tribunals, under Code Iowa 1927, sections
6984, 6985, 6987, 6988, 6992, 6998, 7003, 7005, 7006, 7007-al, of Revised
Statutes, United States, section 5219 (12 U. S. C. A. sec. 548), relating to
taxation of shares in national banks, and act of Congress, July 17, 1916,
section 26, 39 Stat. 380 (12 U. S. C. A. sec. 932), relating to land banks,
and the equal protection cause of Constitution of the United States,
amendment 14. (Ib.)
Taxation—Tax levied on shares of national banks in direct violation of Federal
statute is void. (12 U. S. C. A.y sec. 548.)
(U. S. D. C. 1930.) Tax levied on shares of national banks which was invalid because of direct violation of Revised Statutes, United States, section
5219 (12 U. S. C. A. sec. 548), permitting and limiting right to tax
national banks, was void, since an invalid tax is a void tax. (Ib.)
Taxation—National banks and Federal land bank did not waive remedy to recover
void tax collected by failing to exhaust some administrative remedy.
(U. S. D. C. 1930.) National banks and Federal joint-stock land bank did
not waive their remedy to recover void tax collected by failing to exhaust
some administrative remedy provided by statutes of State, since rule
requiring that administrative remedies be first exhausted does not extend
to those cases where tax is void and where no exercise of discretion by
an administrative reviewing tribunal could correct it. (Ib.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

227

Taxation—Taxpayers did not waive remedy to recover void tax collected by not making
formal protest. (Code Iowa 1927, sec. 7285.)
(U. S. D. C. 1930.) Under Code Iowa 1927, section 7235, national banks and
Federal joint-stock land bank did not waive remedy to recover void tax
collected by not making formal protest. (Ib.)
Taxation—Action at law was proper remedy for national banks and Federal land
bank to recover void taxes illegally collected. (12 U. S. C. A. sees. 548, 932;
Const. U. S., amend. 14-)
(U. S. D. C. 1930.) National banks and Federal joint-stock land bank
could, in action at law, recover taxes paid which were void because in
violation of Revised Statutes, United States, section 5219 (12 U. S. C. A.
sec. 548), and act of Congress, July 17, 1916, section 26, 39 Stat. 380
(12 U. S. C. A. sec. 932), and Constitution of the United States, amendment 14. (Ib.)
KANSAS

Courts—-Federal district court had jurisdiction of action by national bank to recover
excess tax on shares of stock. (12 U. S. C. A., sec. 548.)
(U. S. C. C. A. 1929.) Federal district court had jurisdiction of action at
law under Revised Statutes, section 5219, as amended by act March 4,
1923, 42 Stat. 1499 (12 U. S. C. A. sec. 548), for recovery of excess tax
imposed on shares of bank by State authority, in that such action was
based on construction of United States statute and its application to the
facts. (Wright, County Treasurer, et al., v. Central National Bank of
Topeka, Kans., 37 Fed. Rep. (2d series), 234.)
Costs—Appeal from judgment dismissing suit to enjoin enforcement of judgment
in law action with opportunity to defend therein was frivolous. (28 U. S. C. A.,
sees. 878, 880.)
(U. S. C. C. A. 1929.) Where defendants in action at law by national bank
to recover excess tax imposed on shares of stock by State authority had
opportunity to defend, and did defend, therein, and appealed from judgment against them which was affirmed, an appeal from judgment of dismissal in subsequent suit to enjoin enforcement of judgment in the action
at law was without merit, vexatious, and frivolous, and required imposition
of penalty in accordance with 28 U. S. C. A., sections 878, 880. (Ib.)
Taxation—Tax on stock of national bank at greater rate than upon other moneyed
capital in competition with businesses of national banks is unlawful. (12 U. S.
C. A., sec, 548.)
(Kans. Sup. 1929.) Any tax imposed on the shares of stock of a national
bank which is at a greater rate than that assessed upon other moneyed
capital in the hands of individual citizens of the State coming into competition with the business of national banks is in violation of Revised
Statutes United States, section 5219. (12 U. S. C. A., sec. 548). (Voran
v. Wright, County Treasurer et al., 281 Pac. Rep. 938.)
Taxation—Law authorizing discrimination in rate of taxation between stockholders
of national banks and others having moneyed capital in substantial competition
held invalid. (Laws 1927, ch. 326; 12 U. S.C. A., sec. 548.)
(Kans. Sup. 1929.) The provisions of chapter 326, Laws, 1927, are in violation of the requirements of Revised Statutes United States, section 5219
(12 U. S. C. A. sec. 548), in that they permit and authorize a discrimination in the rate of taxation between the stockholders of national banks
and other corporations and individual citizens having moneyed capital
coming into substantial competition with the business of national banks.
db.)
Taxation—Allowance for taxation of deduction of capital stock of incorporated mortgage company, of registered real estate mortgages held discrimination of stockholder of national and State banks. (Laws, 1925, chs. 273, 276.)
(Kans. Sup. 1929.) The allowance for taxation of a deduction from the
capital stock of an incorporated mortgage company of real estate mortgages
that have been registered, as provided by chapter 273, Laws of 1925, is
a discrimination against the stockholders of national and State banks,
which are taxed under the provisions of chapter 276, Laws of 1925, and
are not allowed such a deduction. (Ib.)




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REPORT OF THE COMPTROLLER OF THE CURRENCY

Taxation—Classification for taxation permitted by Constitution applies to property
and not to owners thereof. (Const., art. 11, sec. 1, amended (see Laws, 1923t
ch. 255).)
(Kans. Sup. 1929.) The classification permitted by the 1924 amendment of
section 1, article 11 (see Laws, 1923, ch. 255), of the State constitution,
applies to property and not to owners thereof. (Ib.)
Taxation—Intangible taxation law held unconstitutional for failure to classify and
tax money and credits uniformly as a class. (Laws. 1927, ch. 326; Const., art. 11,
sec. 1.)
(Kans. Sup. 1929.) Chapter 326, Laws of 1927, known as the intangible
taxation law, violates the provisions of section 1, article 11, of the State
constitution, in that the rate of taxation it prescribes is not uniform and
equal, and that it does not classify and tax money and credits uniformly
as a class. Harvey, J., dissenting. (Ib.)
MISSISSIPPI

Taxation—Constitutional requirements— Uniformity—Equality.
(Miss. Sup. 1930.) Uniform and equal taxation clause does not require
that all property be classified for taxation purposes at true value. (Const.,
sec. 112.) (First Nat. Bank of Biloxi v. Board of Supers of Harrison
County, 127 So. Rep. 686.)
Constitutional law—Equal protection—Taxation—National banks.
(Miss. Sup. 1930.) Assessment of national bank's property at full value,
where other property was assessed at 65 per cent, of value, held not denial
of equal protection. (Const. U. S., Amend. 14, sec. 1.) (Ib.)
NEW YORK

Taxation—Validity of tax on national bank shares depends on whether other moneyed
capital is actually taxed less, not whether tax statute discriminates. (12 V. S.
C. A., sec. 548.)
(U. S. D. C. 1930.) Under Revised Statutes, section 5219 (12 U. S. C. A.?
sec. 548), validity of tax on shares of national banks by States depends on
whether or not tax imposed is at greater rate than is actually assessed on
other competing moneyed capital in hands of individual citizens of State,
and not merely on whether wording of State legislation complies with section,
or whether State courts correctly interpret decisions of Supreme Court;
statute applying to substantial discrimination arising through misapplication of statutes by taxing officers. (Public Nat. Bank of New York v.
Keating et al. 38 Fed. Rep. (2d series), 279.)
Taxation—Statute prohibiting greater tax on national bank shares than on other
moneyed capital is violated, where other capital escapes equal taxation. (12
U. S. C. A., sec. 548.)
(U. S. D. C. 1930.) Revised Statutes, section 5219 (12 U. S. C. A., sec. 548),
authorizing taxation of shares of national banks by States providing tax
imposed is not at greater rate than is assessed on other competing moneyed
capital, is violated wherever capital substantial in amount when compared
with capitalization of national banks, employed either in business or by
private investors in same sort of transactions and in same locality in which
national banks do business, escapes taxation or is taxed at rate less than is
assessed on shares of national banks. (Ib.)
Taxation—Evidence showing moneyed capital competing with national banks was
actually exempt from tax imposed on national bank shares showed illegal tax against
banks. (Tax Law N. Y.; 12 U. S. C. A., sec. 548.)
(U. S. D. C. 1930.) In suit to enjoin collection of taxes on shareholders of
national bank, testimony that billions of dollars were employed by thousands of brokers, private bankers, and individual investors of surplus funds
and by corporations in investing, reinvesting, dealing in bonds, commercial
paper, mortgages, and other securities, lending of money on call or on
time, discounting commercial paper, making loans in substantially same
manner as was done by national banks, and that such competitive moneyed
capital, except for small amount in hands of relatively few citizens and
corporations, was exempted from 1 per cent ad valorem tax imposed on
national bank shares by tax law, New York. (Consol. Laws, ch. 60),

was sufficient to show national bank shares were made to sustain heavier


REPORT OF THE COMPTROLLER OF THE CURRENCY

229

burden of taxation than was imposed on substantial amount of competitive moneyed capital in hands of individual citizens of State, in violation
of Revised Statutes, section 5219 (12 U. S. C. A., sec. 548), though State
tax law imposed same tax on banks and on competing moneyed capital.
(Ib.)
OKLAHOMA

Taxation—Classification of property for taxation is legislative function, and will
not be interfered with by courts if not unreasonable; shares of stock in banks and
banking associations may be made separate class for tax purposes.
(Okla. Sup. 1929.) Classification of property for purposes of taxation is
a legislative function and, when such classification is not based upon an
invidious or unreasonable distinction, it will not be interfered with by
the courts, and shares of stock in banks and banking associations may be
made a separate class for such taxation purposes. (Comanche County
et al. v. American National Bank of Lawton, 122 Okla. 34, 252 P. 408.)
(Bonaparte, County Treasurer v. American-First Nat. Bank in Oklahoma
City, 281 Pac. Rep. 958.)
Citation of statute.
(Okla. Sup. 1929.) Shares of stock in banks organized under the banking
laws of the United States shall not be listed and assessed for ad valorem
taxation purposes at a greater rate than is assessed upon any other moneyed
capital in the hands of the individual citizens of the State. (Sec. 9607,
C. 0. S. 1921.) (Ib.)
Taxation—"Moneyed capital in hands of individuals," as test for taxing national
bank stock, includes money invested in private banking enterprises, securities
representing money at interest, and evidences of indebtedness. (Comp. St. 1921,
sec. 9607; 12 U. S. C. A.y sec. 548.)
(Okla. Sup. 1929.) "Moneyed capital in the hands of the individual citizens" includes money invested in private banking enterprises, investments
of individuals in securities that represent money at interest, and other
evidences of indebtedness such as normally enter into the banking business.
(Comanche County et al. v. American National Bank of Lawton, 122
Okla. 34, 252 p. 408.) (Ib.)
Taxation—Tax on national-bank stock com not be greater than tax on moneyed capital
in hands of individuals invested in evidences of indebtedness. (Comp. St. 1921,
sees. 9588, 9607, 9608; 12 U. S. C. A., sec. 548.)
(Okla. Sup. 1929.) Sections 9588 and 9608, C. O. S. 1921, provide rates of
taxation on moneyed capital in the hands of individual citizens invested in
securities which represent money at interest and other evidences of
indebtedness such as normally enter into the banking business. Under
the provisions of section 9607, C. O. S. 1921, the rate of taxation upon
shares of stock in banks organized under the banking laws of the United
States may not be at a greater rate than is provided by sections 9588 and
9608, Id. (Ib.)
Taxation—National Bank, claiming to be discriminated against, properly paid
taxes under protest and sued for alleged illegal excess. (Comp. St. 1921, sec. 9971.)
(Okla. Sup. 1929.) Where a national bank claimed that it had been discriminated against by taxing authorities of a county, in that a greater
rate of taxes had been levied against and collected upon its shares of stock
than was permitted by law, the bank properly proceeded for its relief
under section 9971, C. O. S. 1921, paying its taxes under protest and
bringing suit for the product of the excessive levy. (American Nat.
Bank of Tonkawa v. Andrews, County Treasurer, 283 Pac. Rep. 253.)
Taxation.
(Okla. Sup. 1929.) Paragraph 2 of the syllabus in the case of Bonaparte v.
American-First National Bank of Oklahoma City (Okla. Sup.) 281 P. 958,
is here adopted as authority for holding herein that the trial court erred
in sustaining defendant's general demurrer to plaintiff's petition. (Ib.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY
TENNESSEE

Taxation.
(Tenn. Sup. 1930.) Complaint of national bank attacking taxation statute
as discriminatory, in view of taxation of loan associations, held insufficient.
(12 U. S. C. A., sec. 548.)
(Under Rev. Stat. U. S., sec. 5219 (12 U. S. C. A. sec. 548), which permits
State to tax a national banking association, State may not impose a tax
at greater rate than is assessed on other moneyed capital coming into
competition with business of national banks. The bill contained no
averment as to any specific wrong suffered by complainant; no charge
that any loan association existed in county wherein bank existed; no
loan association was named as competing with bank; and no facts were
stated as to the means and manner by which bank's business was being
interfered with by loan associations.) (First Nat. Bank of Sevierville v.
Sevier County et al., 30 S. W. Rep. (2d series), 243.)
Constitutional law.
(Tenn. Sup. 1930.) National bank not coming into competition with
moneyed capital claimed to have been favored by taxation statute, held
not discriminated against, and could not attack validity of statute. (12
U. S. C. A., sec. 548.) (Ib.)
Taxation.
(Tenn. Sup. 1930.) Where State has discriminated in matter of taxes as
between national bank and other moneyed capital engaged in competition
with bank, relief will be granted. (12 U. S. C. A., sec. 548.) (Ib.)
Taxation.
(Tenn. Sup. 1930.) Suit held proper method of attacking validity of taxation statute and not appeal to board of tax assessors.
(Taxpayer conceded that the authorities in levying the tax proceeded
regularly in conformity with the statutes.) (Ib.)
WASHINGTON

Taxation of national bank.
(Wash. Sup. 1930.) State can not tax national bank without authority
from Congress, and then only strictly according to terms of authority
granted. (Rev. Stat. U. S., sec. 5219, as amended (12 U. S. C. A., sec.
548).) (Aberdeen Savings & Loan Ass'n. et al. v. Chase et al., Tax Commission, 289 Pac. Rep. 536.)
National banks agencies of United States.
(Wash. Sup. 1930.) National banks are " agencies of United States,"
created by and acting under Constitution and laws of Federal Government to promote governmental purposes. (Ib.)
Authority of State to levy tax on national bank.
(Wash. Sup. 1930.) Authority of State to levy tax on net income of national
bank is not tax on corporate franchise, but special tax to be levied strictly
in accordance with acts of Congress. (Rev. Stat. U. S., sec. 5219, as
amended (12 U. S. C. A., sec. 548).) (Ib.)
Opinions of U. S. Supreme Court controlling.
(Wash. Sup. 1930.) Opinions of Federal Supreme Court are controlling in
determining validity of State laws under Federal Constitution and laws.
(Ib.)
Tax levied on income of bank and not on individuals unconstitutional.
(Wash. Sup. 1930.) State law imposing tax, measured by net income, on
banks and financial corporations and not on individuals, held unconstitutional as denial of equal protection. (Laws, 1929, p. 380; Const. U. S.,
Amend. 14, sec. 1.) Holcomb, Fullerton, and Millard, JJ., dissenting.
db.)
Taxation—Constitutional law.
(Wash. Sup. 1930.) State law imposing tax, measured by net income, on
banks and financial corporations and not on individuals, held unconstitutional, as regards investment banks, as denial of equal protection.
(Laws, 1929, p. 380; Const. U. S., Amend. 14, sec. 1.)



REPORT OF THE COMPTROLLER OF THE CURRENCY

231

(Laws, 1929, p. 380, imposes a tax, measured by net income, on banks
and financial corporations. Plaintiff, a corporation, engaged in the
business of dealing in investment securities generally known as " investment banking." They contended that, because a number of individuals
and copartnerships who were carrying on exactly the same business as
the one in which they were engaged are not by the act taxed upon their
net income, the act was unconstitutional as denying to plaintiffs the
equal protection of the laws.) (Burr et al. v. Chase et al., Tax Commission, 289 Pac. Rep., 551.)
Licenses.
(Wash. Sup. 1930.) A tax on net income of certain corporations held not
excise or corporate privilege tax, notwithstanding legislative declaration.
(Laws, 1929, p. 380.) (Ib.)
Taxation—Constitutional law.
(Wash. Sup. 1930.) Tax measured by net income, imposed on banks and
financial corporations only, held arbitrary classification. (Ib.)
Taxation.
(Wash. Sup. 1930.) State tax measured by net income, including income
from national tax-exempt obligations, held invalid as contravening Federal
Jaws. (Fullerton, Millard, and Holcomb, JJ., dissenting.) (Ib.)
TRUSTS
IN GENERAL
NATIONAL BANKS MAY ACT AS FIDUCIARIES NOTWITHSTANDING STATE
LAWS
CONSOLIDATION OF STATE BANK W I T H NATIONAL BANK—SUCCESSION OF
NATIONAL BANK TO TRUSTS H E L D BY STATE BANK
CALIFORNIA
MASSACHUSETTS
N E W YORK
TENNESSEE
VIRGINIA
CROSS REFERENCES:
INSOLVENCY AND RECEIVERS—
INSOLVENT TRUST COMPANIES

Pago
231
233
234
234
237
238
239
239
195

IN GENERAL

Trusts—Bank agreeing to pay mill's operating expenses, obtaining proceeds of mill
on foreclosure, must account for contribution to proceeds by unpaid seller of cotton
to mill.
(U. S. C. C. A. 1930.) Where bank was active party to arrangement whereby mill was to be run by drafts drawn on bank for expenses and supplies
in operating mill and was to be beneficiary of any net profits, and bank
was mortgagee of assets and products of mill, and plaintiffs, cotton merchants, with knowledge of such arrangement, sold cotton to mill and drew
drafts on bank in payment therefor, but bank refused payment of draft
with knowledge of foreclosure of mill, whereby bank procured all proceeds
of yarns made by mill, including those made from cotton of plaintiffs, bank
could not honestly dishonor drafts and keep cotton and products thereof,
but equity will construct suitable trust to compel bank to account for
proceeds of yarn into which paintiffs' cotton entered and contribution
thereto of plaintiffs' cotton ascertained and plaintiffs' pro rata part therein
paid to them. (Carroll et al. v. First Nat. Bank of Panama City, Fla.,
38 Fed. Rep. (2d series), 195.)
Trusts—Bank agreeing to pay milVs operating expenses had equal claim in proceeds
of mill foreclosed as complainants for cotton sold mill.
(U. S. C. C. A. 1930.) Where bank was active party to arrangement whereby
mill was to be run by drafts drawn on bank and was to be'beneficiary of
net profits, and complainants sold cotton to mill used in making its product and drew drafts on bank, and bank obtained all proceeds of products
of mill on foreclosure of its mortgage against mill, in absence of intentional
fraud, contribution made by bank to proceeds had equal standing with
contribution of complainants' cotton to proceeds of mill's products. (Ib.)

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REPORT OF THE COMPTROLLER OF THE CURRENCY

Trusts—Mill having no interest in proceeds from its sale held proper but not indispensable party to accounting for proceeds.
(U. S. C. C. A. 1930.) In bill to compel an accounting for cotton sold by
complainants to mill, brought against bank agreeing to pay draft for
operation of mill and obtaining products of mill, including cotton on foreclosure of mortgage against mill, mill insolvent and defunct, having no
interest in fund to be administered, though proper party, was not an
indispensable one. (Ib.)
Appeal and error—Order denying motion to remove trustees appointed under trust
agreement was final appealable order.
(U. S. C. C. A. 1929.) An order denying motion to remove trustees
appointed under an agreement of trust constituted a final appealable
order, in view of fact that court had already taken cognizance of trust
and potential control of trust estate. (Franz v. Buder et al.; Mississippi
Valley Trust Co. v. Same, 34 Fed. Rep. (2d series) 353.)
Trusts—Court of equity has inherent power to remove trustee for breach of trust or
other good cause,
(U. S. C. C. A. 1929.) It is inherent in the powers of a court of equity to
remove a trustee for breach of trust or other good cause shown. (Ib.)
Trusts—Unintentional delay of trustees in furnishing bonds due to honest misunderstanding between counsel was not ground for removal.
(U. S. C. C. A. 1929.) Delay of trustees appointed under agreement of trust
in furnishing bonds ordered in decree of court, which was not intentional
but due to an honest misunderstanding between counsel, did not constitute
ground for removal of trustees, in that the provision for filing within
specified time was not of so strict and unyielding a character that unintentional delay could not be relieved against. (Ib.)
Bonds—Considerable liberality is exercised in construing designations of obligees
in bonds.
(U. S. C. C. A. 1929.) Considerable liberality is exercised in construing
designations of obligees in bonds, so long as the intent of the parties is
clear. (Ib.)
Appeal and error—Record on former appeal between same parties is admissible in
subsequent appeal.
(U. S. C. C. A. 1929.) Record on former appeal between the same parties is
admissible for consideration on subsequent appeal therein. (Ib.)
Evidence—Appellate court will take judicial notice of its own records, particularly
in same general litigation.
(U. S. C. C. A. 1929.) Appellate court will take judicial notice of its own
records, and especially when they are in the same general litigation
between the same parties. (Ib.)
Bankruptcy—Bonds indorsed by bankrupt guaranteeing payment held u provable
debt," though bonds had not been declared in default; "guarantee."
(Bankr. act,
sec. 63 (a) (1), 11 U. S. C. A., sec. 103 (a) (1); Civ. Code, Ga., 1910, sec. 2817,
subsec. 11.)
(XL S. D. C. 1929.) In bankruptcy proceeding of company authorized to
purchase, invest in, and sell securities under Civil Code, Georgia, 1910,
section 2817, subsection 11, which in selling bond issues had by indorsement
guaranteed payment, including principal and interest, indorsed bonds held
provable debts against bankrupt within bankruptcy act, section 63 (a) (1),
11 U. S. C. A. section 103 (a) (1), though no default touching bonds had
been declared at time of bankruptcy, and no foreclosure upon the security
had for, though word'' guarantee'' usually imports liability only after principal debtor has been exhausted, indorsement on bonds was in effect one of
surety. (In re Adair Realty & Trust Co., Claims of Neuman et al.,
35 Fed. Rep. (2d series) 531.)
Act of trust company authorized to sell bonds in making indorsement guaranteeing
payment held not ultra vires. (Civ. Code, Ga.y 1910, sec. 2817, subsec. 11, and
subsec. 13, as amended by acts, Ga., 1917, p. 56.)
(U. S. D. C. 1929.) Where bankrupt trust company was authorized under
Civil Code, Georgia, 1910, section 2817, subsection 11, to purchase, invest



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233

in, and sell securities, and entered contracts to sell entire bond issues,
indorsement on bonds guaranteeing payment of principal and interest held
not ultra vires, especially where contract had been fully executed on both
sides, though bankrupt never complied with subsection 13, as amended by
acts Georgia, 1917, page 56, authorizing it to engage in business of guaranteeing payment of bonds, since it was proper for bankrupt to guarantee
payment of bond in order to sell it. (Ib.)
Bankruptcy—Where bankrupt trust company guaranteed payment of secured bonds,
including interest, bondholder's claim must be allowed in full, regardless of security,
until full satisfaction is had from some source. {Civ. Code, Ga,, 1910, sec. 2817,
subsec. 11.)
(U. S. D. C. 1929.) Where bankrupt trust company, authorized to sell bonds
by Civil Code, Georgia, 1910, section 2817, subsection 11, made indorsement on bond secured by real estate guaranteeing payment of principal
and interest, liability of bankrupt estate was only secondary, but claim
of owner of indorsed bond must be allowed in full, regardless of security,
until full satisfaction is had by creditor from some source. (Ib.)
Bankruptcy—Indemnity company held to have provable debt against bankrupt under
indemnity contract as to liability which had become fixed at time of bankruptcy,
(Civ. Code, Ga., 1910, sec. 2817, subsec. 11; bankr. act, sec. 68 (a) (1) and Q),
11 U. S. C. A., sec. 103 (a) (1) and U).)
(U. S. D. C. 1929.) Where bankrupt trust company, authorized to sell
bonds under Civil Code, Georgia, 1910, section 2817, subsection 11, guaranteed payment of principal and interest in order to sell them, and
arranged with indemnity company to issue certificates of guaranty in
consideration of premium, and made indemnifying contract to repay to
indemnity company any loss from issuance of such certificates, indemnity
company held to have provable debt under indemnity contract, where
liability had become fixed at time of bankruptcy under bankruptcy act,
section 63 (a) (4), 11 U. S. C. A., section 103 (a) (4), though claim could
not be supported under bankruptcy act, section 63 (a) (1), 11 U. S. C. A.,
section 103 (a) (1). (Ib.)
Subrogation—Where trust company, guaranteeing payment of bonds, entered
indemnity contract with indemnity company, indemnity company taking up
bonds regarding which it claimed indemnity held subrogated to bondholders' rights.
(Civ. Code, Ga., 1910, sec. 2817, subsec. 11.)
(U. S. D. C. 1929.) Where bankrupt trust company, authorized to sell bonds
under Civil Code, Georgia, 1910, section 2817, subsection 11, guaranteed
payment of principal and interest in order to sell them, and arranged with
indemnity company to issue certificates of guarantee in consideration of
premium, and made indemnifying contract to repay to indemnity company
any loss from issuance of such certificates, indemnity company which took
up all bonds in respect of which it claimed indemnity held subrogated to
rights of bondholders, including right to enforce indorsement of trust company guaranteeing payment. (Ib.)
NATIONAL BANKS MAY ACT AS FIDUCIAEIES NOTWITHSTANDING STATE LAWS

State law inconsistent with Federal act must yield thereto.
(Pa. Sup. 1923.) In so far as the State banking law is inconsistent with
section 11 (k) of act of Congress, December 23, 1913, as amended by act
September 26, 1918, section 2 (U. S. Comp. St. Ann. Supp. 1919, sec.
9794), the former must yield to the latter, even though the result may
place upon the Federal banks a benefit or burden not received or assumed
by the State banks and trust companies. (In re Turner's estate, 120
Atl. Rep. 701.)
National banks may act as fiduciary notwithstanding State laws.
(Pa. Sup. 1923.) The right given by section 11 (k) of act of Congress,
December 23, 1913, as amended by act September 26, 1918, section 2
(U. S. Comp. St. Ann. Supp. 1919, sec. 9794), to national banks to occupy
fiduciary positions is not affected by the fact that under the Federal law
they are permitted to commingle the assets held in fiduciary capacity
with their other assets after they have set aside Government bonds or
other securities approved by the Federal Reserve Board, and that the




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HEPORT OF THE COMPTROLLER OF THE CURRENCY
Federal law allows the State authorities to inspect books and records of
only that part of their assets which are received in a fiduciary capacity,
while the State acts allow supervision by the banking department of all
assets and forbids substitution of securities. (Ib.)

Establishment of Federal banks within Federal power not subject to interference by
State except as permitted by Congress.

(Pa. Sup. 1923.) The establishment of the Federal reserve bank was a
matter within the scope of Federal power, and the State can not in any
way interfere with the powers of such bank, except as permitted by
Congress. (Ib.)
CONSOLIDATION OP STATE BANK WITH NATIONAL BANK—SUCCESSION OP
NATIONAL BANK TO TRUSTS HELD BY STATE BANK
CALIFORNIA

On consolidation of two banking corporations, new corporation, in absence of contrary
stipulation, becomes owner of properties, trusts, and contracts of former corporations. (Bank act, St. 1918, p. 152, sec. 31 (a), as amended by St. 1917, p. 609,
sec. 9.)

(Cal. Dist. Appls. 1928.) Where two banking corporations consolidate
under bank act, Statutes 1913, page 152, section 31 (a), as amended by
Statutes 1917, page 609, section 9, resulting in bringing into existence a
single corporation as successor of the two, the successor corporation ipso
facto succeeds to and becomes owner of the combined capital stocks
and properties, trusts,and contracts of the former corporations, provided
as to trust estates, or other like contracts, there is an absence of stipulation
or agreement between the parties specifically prescribing a different
devolution. (Mercantile Trust Co. v. San Joaquin Agricultural Corporation et al., 265 Pac. Rep. 583.)
Mortgages—Mortgage prescribing method of filling vacancy as trustee held not
inconsistent with statute authorizing consolidation of banking corporations.
(Bank act, St. 1913, p. 152, sec. 31 (a), as amended by St. 1917, p. 606, sec. 9.)

(Cal. Dist. Appls. 1928.) Provision of mortgage, in form of deed of
trust, that in case of dissolution, resignation, incapacity, or removal of
trustee, a successor may be appointed by holders of a majority of bonds
secured, held not inconsistent with bank act, Statutes 1913, page 152,
section 31 (a), as amended by Statutes 1917, page 606, section 9, authorizing consolidation of banking corporations into a single corporate entity
whereby latter becomes the successor in interest to properties, contracts,
trusts, and obligations of consolidating corporations. (Ib.)

Mortgages—Consolidation of corporate trustee with another corporation held not to
effect "dissolution" of trustee within trust deed prescribing method of filling
vacancy in case of trustee's dissolution. (Bank act, St. 1918, p. 152, sec. 81 (a),
as amended by St. 1917, p. 606, sec. 9; Code Civ. Proc. sees. 1227, 1285.)

(Cal. Dist. Appls. 1928.) Consolidation of bank and trust company, which
was trustee under a mortgage, with another banking corporation under
bank act, Statutes 1913, page 152, section 31 (a), as amended by Statutes
1917, page 606, section 9, providing that new corporation succeeds to
rights of consolidating corporation, held not to effect " dissolution" of
trustee within meaning of trust deed, so as to make it duty and exclusive
right of bondholders to appoint a successor trustee as therein provided,
and consolidated corporation was therefore not precluded from becoming
successor trustee under said statute; "dissolution" as used in the mortgage
meaning "dissolution of corporation" by procedure laid down in Code
Civil Proc, section 1227. (Ib.)
Corporations—Corporations are solely creatures of legislature.

(Const, art. 12, sec. 1.)

(Cal. Dist. Appls. 1928.) Corporations are solely creatures of the legislature,
and they may exist or cease to exist after being brought into being by
virtue of statutory enactment authorized by Constitution, article 12,
section 1. (Ib.)



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235

Corporations—Corporations must submit to all reasonable and nondiscriminatory
conditions on which they are authorized by legislature to do business.

(Cal. Dist. Appls. 1928.) So long as the legislature, in exercising its
right to regulate corporations, does not impose on them unreasonable
burdens, obligations, or restrictions, nor unfairly discriminate as between
corporations of the same general class, such organizations must submit to
and abide by all conditions on wnich they are authorized to prosecute
the objects for which they were created. (Ib.)
Constitutional law.—Statute authorizing consolidation of banking corporations held
not to impair obligation of contracts of merging corporations. (Bank act, St. 1918,
p. 152, sec. 31 (a), as amended by St. 1917, p. 609, sec. 9.)

(Cal. Dist. Appls. 1928.) Bank act, Statutes 1913, page 152, section 31 (a),
as amended by Statutes 1917, page 598, authorizing consolidation of
banking corporations, and providing that the new corporation shall
succeed to all capital stocks, properties, trusts, contracts, and assets of
merging corporations, in no way impairs the obligations of contracts
entered into by merging corporations prior to the merger, within the
prohibition of either the Federal or State Constitutions. (Ib.)
Statute authorizing consolidation of banking corporations becomes part of every
agreement made by constituent corporations prior to merging. (Bank act, St.
1913, p. 152, sec. 31 (a), as amended by St. 1917, p. 606, sec. 9.)

(Cal. Dist. Appls. 1928.) Bank act, Statutes 1913, page 152, section 31 (a),
as amended by Statutes 1917, page 606, section 9, authorizing the consolidation of banking corporations, in so far as it prescribes a scheme for
the transfer of their properties, rights, agreements, obligations, and duties
to the consolidated corporation, enters into and becomes a part of every
agreement or obligation entered into or assumed by the merging corporations prior to the merger, and of this its directors, bondholders, and others
dealing with it are presumed to have knowledge. (Ib.)
Mortgages—Mortgage held to authorize trustee to declare entire principal due on
default in interest payment without prior written notice to mortgagor.

(Cal. Dist. Appls. 1928.) That mortgage recited several events of default
in the alternative, held clearly to indicate that the happening of any one
of the defaults shpuld be sufficient of itself without reference to the conditions involved in any of the other defaults to entitle the trustee to
proceed in any of the several ways prescribed to enforce rights of bondholders and of itself; and where one of provisions did not require written
notice by trustee to mortgagor of its default in payment of interest before
right to proceed to enforce payment of interest in any of ways prescribed
should accrue, none was required as prerequisite to action to foreclose the
mortgage. (Ib.)
Corporations—Corporation suspended for failing to pay license and franchise tax
may be made defendant in action commenced after suspension. (St. 1917, p. 377.)

(Cal. Dist. Appls. 1928.) Corporation which has been suspended for failure to pay its license and franchise tax under Statutes 1917, page 377,
may nevertheless be made a party defendant in an action commenced
subsequent to such suspension. (Ib.)

Trusts—Probate court is without jurisdiction to determine protests of beneficiaries
to statutory substitution as trustee of bank purchasing assets of original trustee,
provided statute is valid, but objections must be asserted in equity. (State bank
act (St. 1909, p. 87, and amendments thereto) and sec. 31, as amended by St. 1921,
p. 1378, sec. 15, and sec. 81(a), as amended by St. 1921, p. 181, and sec. 31(b),
as added by St. 1921, p. 1875, sec. 16.)

(Cal. Dist. Appeals, 1929.) Under State bank act (St. 1909, p. 87, and
amendments thereto) and section 31, as amended by Statutes, 1921, page
1373, section 15, and section 31 (a), as amended by Statutes, 1921, page 181,
and section 31 (b), as added by Statutes, 1921, page 1375, section 16, providing for transfer of business of banking corporations and succession of
purchasing bank to trust relationships by operation of law, court sitting
in probate is bound to recognize bank purchasing business of original
trustee as the new trustee and has no jurisdiction to determine protests
on part of beneficiaries to statutory substitution, provided statute is valid,
and any other objections to substitution on part of beneficiaries must be
asserted in court of equity. (In re Barnett's Estate, 275 Pac. Rep. 453.)



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REPORT OF THE COMPTROLLER OF THE CURRENCY

Statutes—Title relative to regulation of hanking business sufficiently expresses provision of statute for transfer of trusteeships on transfer of bank's business. (State
bank act (St. 1909, p. 87, and amendments thereto) and sec. 31, as amended
by St. 1921, p. 1373, sec. IS, and sec. 31 (a), as amended by St. 1921, p. 181, and
sec. 81 (b), as added by St. 1921, p. 1375, sec. 16.)

(Cal. Dist. Appeals, 1929.) State bank act (St. 1909, p. 87, and amendments
thereto), as to transfer of trusteeships on transfer of business of banks,
provided for by section 31, as amended by Statutes, 1921, page 1373,
section 15, and section 31 (a), as amended by Statutes, 1921, page 181, and
section 31 (b), as added by Statutes, 1921, page 1375, section 16, is sufficiently expressed in title defining act as one "to regulate the business of
banking." (Ib.)
Constitutional law—Provisions for transfer of trusteeships on transfer of bank's
business do not offend special privileges or equal protection clauses, as class legislation. (State bank act (St. 1909, p. 87, and amendments thereto) and sec. 81, as
amended by St. 1921, p. 1373, sec. 15, and sec. 31 (a), as amended by St. 1921,
p. 181, and sec. 31(b), as added by St. 1921, p. 1375, sec. 16.)

(Cal. Dist. Appeals, 1929.) State bank act (St. 1909, p. 87, and amendments
thereto) held not void as class legislation in violation of special privileges
and equal protection clauses of Constitution, as to section 31, as amended
by Statutes, 1921, page 1373, section 15, and section 31 (a), as amended
by Statutes, 1921, page 181, and section 31 (b), as added by Statutes, 1921,
page 1375, section 16, providing for transfer of trusteeships on transfer
of business of banking corporations. (Ib.)
Constitutional law-—Provision for transfer of trusteeships on transfer of business of
banking corporations held not void as depriving courts of equity jurisdiction.
(State bank act (St. 1909, p. 87, and amendments thereto) and sec. 31, as amended
by St. 1921, p. 1373, sec. 15, and sec. 31 (a), as amended by St. 1921, p. 181, and
sec. 31 (b), as added by St. 1921, p. 1375, sec. 16; Const, art. 6, sec. 5.)

(Cal. Dist. Appeals, 1929.) State bank act (St. 1909, p. 87, and amendments
thereto) held not to violate Constitution, article 6, section 5, giving superior court original jurisdiction of all equity cases, on account of provisions
of State bank act, section 31, as amended by Statutes, 1921, page 1373,
section 15, and section 31 (a), as amended by Statutes, 1921, page 181,
and section 31(b), as added by Statutes, 1921, page 1375, section 16, providing for transfer of trusteeships on transfer of business of banking corporations by sale, consolidation or merger,, since jurisdiction of equity is
not altered by statutory changes creating new rights or withdrawing
certain rights which formerly existed. (Ib.)
Courts—Court on appeal from decision settling account of national bank as substitute trustee could not determine propriety of application of statute to national
banks. (State bank act (St. 1909, p. 87, and amendments thereto) and sec. 31,
as amended by St. 1921, p. 1873, sec. 15, and sec. 31 (a), as amended by St. 1921,
p. 181, and sec. 81 (b), as added by St. 1921, p. 1375, sec. 16.)

(Cal. Dist. Appeals, 1929.) Reviewing court on appeal from decision of probate court settling final account of national bank as substitute trustee had
no jurisdiction to determine applicability of State bank act (St. 1909, p. 87,
and amendments thereto), section 31, as amended by Statutes, 1921,
page 1373, section 15, and section 31(a), as amended by Statutes, 1921,
page 181, and section 31 (b), as added by Statutes, 1921, page 1375, section
16, providing for transfer of trusteeships on transfer of business of banking
corporations by sale, consolidation or merger, to national banks, on
ground that such application would deprive State courts of jurisdiction
over testamentary trusts. (Ib.)
Courts—Probate court had no jurisdiction, on account by national bank as substitute
trustee, to determine whether substitution injured estate or beneficiaries, and
jurisdiction of that question was therefore not conferred by appeal to district court
of appeal. (State bank act (St. 1909, p. 87, and amendments thereto) and sec.
81, as amended by St. 1921, p. 1873, sec. 15, and sec. 81 (a), as amended by St.
1921, p. 181, and sec. 31 (b), as added by St. 1921, p. 1375, sec. 16.)

(Cal. Dist. Appeals, 1929.) District court of appeal, on appeal from orders setling account of national bank as substitute trustee under State bank act (St.
1909, p. 87, and amendments thereto), section 31,as amended by Statutes,
1921, page 1373, section 15, and section 31 (a), as amended by Statutes,




REPORT OF THE COMPTROLLER OF THE CURRENCY

237

1921, page 181, and section 31 (b), as added by Statutes, 1921, page 1375,
section 16, had no jurisdiction to determine whether substitution was
detrimental to interest of trust estate or beneficiaries, since probate court
had no jurisdiction over that question. (Ib.)
Statutes—Statutes must be construed reasonably.

(Cal. Dist. Appeals, 1929.) Judicial construction or interpretation of statute
must be reasonable. (Ib.)
Statutes—Court may not read into statute matters omitted by legislature.

(Cal. Dist. Appeals, 1929.) Court may not, under the guise of interpretation,
read into statute matters which have been omitted by the legislature,
particularly where it appears that the omission might have been intentional. (Ib.)
Trusts—Substitution of national bank as trustee on succession to business of original
trustee held effective without consent of beneficiaries. (State bank act (St. 1909,
p. 87, and amendments thereto) and sec. 81, as amended by St. 1921, p. 1373,
sec. 15y and sec. 31 (a), as amended by St. 1921, p. 181, and sec. 81(b), as added
by St. 1921, p. 1875, sec. 16.)

(Cal. Dist. Appeals, 1929.) Substitution of national bank as trustee on its
succeeding to business of original trustee under State bank act (St. 1909,
p. 87, and amendments thereto) and section 31, as amended by Statutes,
1921, page 1373, section 15, and section 31 (a), as amended by Statutes,
1921, page 181, and section 31 (b), as added by Statutes, 1921, page 1375,
section 16, was effective without necessity of approval or consent of beneficiaries, since section 31 makes sale subject "to the rights of trustors and
beneficiaries after such transfer to nominate another and succeeding
trustee." (Ib.)
Wills—Right to make testamentary disposition of property depends on legislative
consent.

(Cal. Dist. Appeals, 1929.) Right to make testamentary disposition of property is not inherent right but one which depends entirely on consent of
legislature. (Ib.)
Wills—Testator is deemed to intend results of statutory rules governing disposition
of estate.

(Cal. Dist. Appeals, 1929.) Where legislature has prescribed rules and conditions for disposition and administration of estates, testator is deemed to
intend result which such rules produce to the same extent as though statutory provisions were embodied in will. (Ib.)
Wills—Statutory scheme for substitution of trustee on transfer of business of banks
is deemed to have been adopted by testator designating bank as trustee. (State
bank act (St. 1909, p. 87, and amendments thereto) and sec. 81, as amended by
St. 1921, p. 1373, sec. 15, and sec. 81 (a), as amended by St. 1921, p. 181, and
sec. 31 (b), as added by St. 1921, p. 1375, sec. 16.)

(Cal. Dist. Appeals, 1929.) Where State bank act (St. 1909, p. 87, and
amendments thereto) and section 31, as amended by Statutes, 1921, page
1373, section 15, and section 31 (a), as amended by Statutes, 1921, page 181,
and section 3l(b), as added by Statutes, 1921, page 1375, section 16, thereof,
providing for transfer of trusteeships by banking corporations on transfer
of business of banks, was in effect at date of will creating trust and making
bank trustee, testator is deemed to have adopted and included within
declaration of trust scheme for substitution of trustees prescribed by the
act, and consent of all parties is considered to have been given. (Ib.)
MASSACHUSETTS

Conformity with State law in administration of estates of deceased persons by consolidated bank required by act of February 25, 1927.

(U. S. Sup. 1929.) The act of February 25, 1927, provides that any national
bank may be consolidated with any State bank or trust company under
the charter of the national bank; that, upon such consolidation, all the
rights, franchises and interests in property of the State corporation
shall be deemed transferred to and vested in the national bank; that the
consolidated national bank "shall hold and enjoy the same and all rights




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REPORT OF THE COMPTROLLER OF THE CURRENCY
of property, franchises and interests, including the right of succession as
trustee, executor, or in any other fiduciary capacity in the same manner
and to the same extent as was held and enjoyed" by the State corporation;
but that no such consolidation shall be in contravention of the law of the
State under which such State bank or trust company was incorporated.
Held:

That the act enjoins upon a consolidated national bank complete conformity with the State law in its conduct of estates of deceased persons
when acting as trustee or administrator thereof. (Ex parte Worcester
County National Bank of Worcester, 279 U. S. R. 347.)
Conflict of Laws—Decision by State court as to whether consolidated bank succeeded
to executorship, followed by this court.

(U. S. Sup. 1929.) Where the highest State court decided that, under the
-State law, a national bank with which a local trust company had been
consolidated under the act did not succeed to an executorship held by
the trust company and could not render an account of the estate, except
as executor de son tort, because the consolidation had ended the existence
of the trust company and the bank, being a different entity, could not
rightfully represent the estate without a new appointment from the
probate court, this decision, as to the State law, should be followed by the
court. (Ib.)
Executors and Administrators—Consolidated bank should apply to probate court
for appointment to succeed to executorship.

(U. S. Sup. 1929.) To conform with the State law, under the act of Congress,
the bank, in order to represent and administer the estate, should apply for
an appointment by the probate court. (263 Mass. 444, affirmed.) (Ib.)
NEW YORK

Executors and administrators—Appointment

of executors—Selection by testator.

(N. Y. Appeals, 1912.) A testator, subject to the regulations and restrictions
prescribed by law, may select his executor as he pleases, and such designation alone invests the executor with authority and power, and the
letters testamentary, which are founded on the probate of the will, and of
an evidentiary nature, neither create the office nor confer title or power.
(In re Bergdorf s will, 99 Northeastern Rep. 714; 206 N. Y. 309.)

Executors and administrators—Selection of executor—Intention of testator.

(N. Y. Appeals, 1912.) The selection by testator of his executor may be
immediate and expressed, or it may be constructive or by implication, or
it may be delegated by the will, but the intent of testator as to how, when,
and by whom his estate shall be conserved and distributed must be ascertained from the language of the will, which must be carried out unless
unlawful, and this rule is not modified by Code Civil Proc, section 2636,
providing that, after a will has been admitted to probate, the person or
persons named therein as executors, who are competent to serve and who
appear and qualify, are entitled to letters testamentary. (Ib.)
Merger of corporations—Statutory

authority.

(N. Y. Appeals, 1912.) Domestic corporations organized as trust companies
may not merge in the absence of statutory authority, and, where a
statute authorizes a merger, the effect is exclusively what is declared
by the act. (Ib.)
Merger of corporations—Statutory

authority.

(N. Y. Appeals, 1912.) Banking law (Consol. Laws 1909, ch. 2), sections
36, 39, 40, authorizing two or more trust companies to merge into another,
and declaring that on the merger the rights and franchises of the corporation so merged shall be vested in the corporation into which it has been
merged, etc., permits a trust company to merge itself into another, and a
trust company which merges into another company, without surrendering
its corporate existence, retains only its corporate entity, but otherwise it is
nonexistent, and its property rights and interests vest in the company
into which it is merged. (Ib.)



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239

Executors and administrators—Designation of executor—Statutory regulations—
Validity.
(N. Y. Appeals, 1912.) The legislature, having the entire legislative power
of the people, except as withheld by the State constitution or restricted
by the Federal Constitution, may provide that a trust company, into
which another trust company lawfully designated as an executor has
been merged subsequent to the making and prior to the probate of the
will, shall be the transferee of the privilege of being executor. (Ib.)
Wills—Statutory right.
(N. Y. Appeals, 1912.) A testator, in making his will and appointing
executors, is and remains throughout the rest of his life subject to relevant
existing statutes, and the exercise of the right to make a testamentary
disposition depends solely on the statutes, and the legislature may withhold or grant the right, and, where it grants it, it may make its exercise
and its extent subject to such regulations as it pleases, and it must be
deemed that a testator intends the results which the operation of the
statutory regulations produce. (Ib.)
Executors and administrators—Appointment of executors—Parties entitled to—
Statutory provisions.
(N. Y. Appeals, 1912.) A testator appointed as executors two persons and a
trust company and "the survivors and successors of them." The trust
company subsequently and prior to his death was merged into another
trust company pursuant to banking law (Consol. Laws 1909, ch. 2),
sections 36-40. Held that, on the probate of the will, the latter company
was entitled to letters testamentary, though the merged company was
ignorant of the making of the will and its designation as executor. (Ib.)
TENNESSEE

National bank held to succeed to rights and title of consolidated State bank, as trustee
under trust deed authorizing State bank to administer trust. (12 U. S. C. A.,
sec. 34a; acts 1918, ch. 20, sec. 23.)
(Tenn. Sup. 1929.) National bank, with which State bank consolidated
under Act of Congress, November 7, 1918, section 3, as added by act of
Congress, February 25, 1927, section 1 (12 U. S. C. A., sec. 34a), which
consolidation was valid under acts 1913, chapter 20, section 23, held to
succeed to rights and titles of State bank as trustee under trust deed conveying real estate to secure payment of certain notes with power of sale
in case of default, since, in case of corporate trustee, one designating
corporation as trustee is held to do so with knowledge that trust is to be
administered by persons to whom stockholders commit control of its affairs.
(First Nat. Bank of Chattanooga et al. v. Harry E. Chapman Co. et al.,
22 S. W. R. (2d series), 245.)
VIRGINIA

Consolidation of State bank with national bank—Succession to trust powers denied
in Virginia.
(Va. Sup. Ct. of App. 1930.) Designation of State bank as executor did not
authorize national bank to act, notwithstanding consolidation before
testator's death, whereby State bank was merged with national bank.
(12 U. S. C. A., sees. 30, 34a.)
(Act of Congress, Nov. 7, 1918, ch. 209, sec. 3, 40 Stat. 1044, as added
by act of Congress, Feb. 25,1927, ch. 191, sec. 1, 44 Stat. 1225 (12 U. S. C.
A., sec. 34a), provides for consolidation of State banks with national
banking associations, and further provides that all the rights, franchises,
and interests of the State bank and every species of property shall be
transferred to and vested in the National Banking Association "including
the right of succession as trustee, executor, or in any other fiduciary capacity in the same manner and to the same extent as was held and enjoyed
by such State bank." The designation of the trust company as executor
was not a thing which passed as property or an asset on consolidation in
view of the fact that the selection is a personal matter involving special
confidence, and that will is merely ambulatory and may be changed during
testator's lifetime.) (Hofheimer v. Seaboard Citizens' Nat. Bank of
Norfolk, 153 S. E. R. 656.)



240

REPORT OF THE COMPTROLLER OF THE CURRENCY
DECISIONS OF STATE COURTS

Mr. Thomas B. Pa ton, general counsel of American Bankers'
Association, furnishes additional decisions of State courts not included in the foregoing pages of particular interest to national banks
from the following reporters:
ATLANTIC REPORTER 150.
NORTHEASTERN REPORTER 170.
NORTHWESTERN REPORTER 227, 228, 229, 230, 231.
PACIFIC REPORTER 283, 288, 290.
SOUTHERN REPORTER 126, 128.
SOUTHEASTERN REPORTER 150, 151.
SOUTHWESTERN REPORTER (2D), 21, 22, 30.
NEW YORK SUPP. 237, 238, 239.

Seven additional decisions are taken from the New York Law
Journal, and one decision from the United States Daily.
The abbreviation " P. D . " is the reference to Paton's Digest.
ACCEPTANCES
ACCEPTANCE AND CERTIFICATION.—Certification secured by holder with knowledge of stop-payment order—Purchase by accepting bank of check from
subsequent transferee—Nonrecovery by such bank from holder securing
certification.
"Nor does the complaint state a cause of action in fraud. The mere
omission of defendant when seeking certification to tell plaintiff that he knew
that payment of the check had been stopped is not of itself fraud.
Defendant was under no active duty to the bank to make any statement. They
were dealing at arm's length." N. Y. Law Jl., Oct. 10, 1929.)
Acceptance—Trade—Negotiability—" Obligation of acceptor arises out of purchase of goods from drawer." (Coopersmith v. Maunz, 237 N. Y. Supp. 1.
P. D. 171.)
AGENCY
BANKS AND BANKING.—Purchase by bank of stock as agent for undisclosed principal—Liability of bank for breach of contract of purchase. (Block v.
Pennsylvania Exchange Bank (N. Y. 1930), 170 N. E. 900.)
BRANCH BANKING
STOPPING PAYMENT.—Branch banking—One office taking check after payment
stopped at office on which drawn. (Dean v. Eastern Shore Trust Co. (Ct.
of Appl. Md. 1930), 150 Atl. 797.)
CHECKS
CHECKS WITHOUT FUNDS.—Constitutionality, presumption of intent to defraud
from knowledge of insufficiency of deposit. (Carter v. Lowry, 151 S. E.
23, Ga. 1929.)
CHECKS.—Liability of bank for misapplication of trust funds—Check of third
person payable to fiduciary as such deposited to his personal credit—Public
funds. (Rodgers v. Bankers' Nat. Bk. (Minn. 1930), 229 N. W. 90.)
INDORSER AND INDORSEMENT.—Validity of payment by drawee bank on indorsement of one joint payee. (Dawson & White v. National Bank of Greenville,
N. C , N. C. 1929, 150 S. E. 38.)
HOLDER IN DUE COURSE.—Bank cashing or crediting check payable to it for
person other than drawer. (N. Y. Law JL, Apr. 12, 1930.)
COLLATERAL
PLEDGE AND COLLATERAL.—Oral pledge for obligation of another—Pledge of
unindorsed stock. (N. Y. Law JL, May 23, 1930.)




REPORT OF THE COMPTROLLER OF THE CURRENCY

241

COLLECTIONS
(Bays v. Albuquerque Nat. Bk. (Set. N. M.
1930), 288 Pac. 17.)
COLLECTION.—Collection agreement establishing agency relation—Effect of
permitting depositor to draw out unconnected funds. (Bromfield v. Cochran,
Set, Colo. 1929, 283 Pac. 45. P. D. 1461.)
COLLECTION.—South Carolina forwarding direct statute unconstitutional because
discriminatory against banks not incorporated or doing business in the
State—South Carolina statute of 1927 relating to priority of payment of
items sent for collection to bank becoming insolvent invalid because of
defective title. (Bank collection code enacted in 1930. Does forwarding
direct provision discriminate against banks not doing business in State?)
(Wachovia Bank & Trust Co. v. Peoples Bank of Darlington, S. C , Set.
1930. U. S. Daily, Sept. 8, 1930. P. D. 1483.)
COLLECTION.—Continued liability under statute of drawer after presentment,
charge of check and sending of remittance. (Holdingford Milling Co. v.
Hillman, etc., Creamery (Set. Minn. 1930), 231 N. W. 928. P. D. 1568.)
BANK COLLECTION CODE CITED.

DEATH AND DECEDENT'S ESTATE
DEATH AND DECEDENT'S ESTATE.—Note payable to husband and wife as joint

tenants with right of survivorship held to create tenancy in common without
right of survivorship. (Webb v. Woodcock (Set. Ore. 1930), 290 Pac. 751.
P. D. 1746.5.)
DEPOSITS

DEPOSITS IN TWO NAMES.—Ultimate title—Account payable to "A or B, either

or survivor"—Nondelivery of pass book—Acceptance of gift presumed.
(Supplements Mardis v. Steen.) (Reap v. Wyoming Valley Trust Co.
(Set. Pa. 1930), 150 Atl. 165. P. D. 1832.5.)
DEPOSITS.—Guaranty of bank deposits—Validity of statute appropriating public
funds to pay losses of depositors. (Weaver v. Koehn (Set. Neb. 1930), 231
N. W. 703. P. D. 1984.8.)
DEPOSITOR'S GUARANTY LAW.—Constitutionality. (Abie State Bank v. Weaver,
Neb. 227, N. W. 922. P. D. 1984.6.)
FORGED OR ALTERED PAPER
FORGED PAPER.—Recovery by drawee which pays forged check—Recovery

against bank which follows custom of cashing without identification.
(Fidelity & Casualty Co. of N. Y. v. Planenscheck, Wise., 1929, 227 N. W.
387. P. D. 2122.7.)
FORGED PAPER.—Charging to drawer's account of check payable to drawer's
agent and another with forgery of such other's indorsement. (Merchants
Nat. Bk. v. Home Bldg. & Sav. Asso., Ark., 1929, 22 S. W. (2) 15. P. D.
2027.6.)
FORGED PAPER.—"Inside job"—Liability of drawee bank—Recovery against
cashing bank, guaranteeing indorsement. .(N. Y. Law JL, May 20, 1930.)
FORGED PAPER.—Payment on forged indorsement—Charge to depositor's
account—"Inside job"—Depositor's negligence. (John G. Paton Co., Inc.,
v. Guaranty Trust Co. of N. Y., 238 N. Y. Supp. 362 Set. P. D. 2014.1.)
FORGED PAPER.—"Inside job"—Fraud of employee giving data for corporate
checks—"Fictitious payee"—Action by purchaser of check against drawer—
Drawer's duty to give notice of forgery of indorsements. (United Motor
Car Co. v. Mortgage and Securities Co. (Ct. of App. La. 1930), 128 So.
307. P. D. 2014.1.)
FORGED PAPER.—Inside job—Pay-roll check—Imputed knowledge of clerk preparing check—Negligence of drawer in not ascertaining accuracy of checks.
(C. B. Erickson Co. t;. Iowa Nat. Bank (Set. Iowa 1930), 230 N. W. 342.
P. D. 2014.1.)



242

REPORT OF THE COMPTROLLER OF THE CURRENCY
GUARANTY
BANKING.—Guaranty—Liability of bank on guaranty to Federal
land bank of note for loan which bank had negotiated as agent of land bank.
(Federal Land Bank of St. Paul v. Crookston Trust Co. (Set. Minn. 1930),
230 N. W. 7970. P. D. 555.8.)

BANKS AND

INSOLVENCY AND RECEIVERS
deposits on resumption of banking
business.—Legality of order. (Amos v. Conklin (Fla. 1930), 126 So. 283.
P. D. 493.3}i)
DEPOSITS.—Unauthorized deposit by agent in name of principal as trust fund
on insolvency of banks. (Andrews v. Farmers Trust Co., Mo., 1929, 21
S. W. (2), 641. P. D. 1894.8.)
INSURANCE.—Duty of bank directors as to amount of fidelity insurance. (Scott's
Ex'rs. v. Young, Ky., 1929, 21 S. W. (2), 994. P. D. 2835.11.)
BANKRUPTCY AND INSOLVENCY.—Freezing

INTEREST AND USURY
USURY.—Charge for default as usury—Provision authorizing
acceleration of series of notes upon default as affecting usury—Deduction
of interest in advance—Payment of interest more often than once a year—
Confusion—Texas eliminated by supreme court decision. (Shrapshire v.
Commerce Farm Credit Co. (Set. Tex. 1930), 30 S. W. Rep. (2), 282. P.
D. 2961.1.)

INTEREST AND

F O R M A T I O N O F CORPORATION TO AVOID USURY LAW I N STATE P R E C L U D I N G COR-

PORATION FROM ASSERTING DEFENSE OF USURY.

"The defendants were willing to loan money upon the real estate owned
by the plaintiff, provided they could lawfully exact a higher rate of interest.
The statute left one way open to accomplish a result desired by both sides.
* * * If the property were transferred to a corporation, the corporation
could borrow the money upon mortgage given by it without limitation as
to the interest it might agree to pay for the loan. So the transaction was
consummated and it was consummated in full compliance with the law of
this State. * * * Here the corporate entity has been created because
the statute permits a corporate entity to make a contract which would be
illegal if made by an individual. The law has not been evaded but has
been followed meticulously in order to accomplish a result which all parties
desired and which the law does not forbid. * * * No ground has been
shown for disregarding the corporate entity, though that entity has been
formed for the purpose of doing something permitted to a corporation but
forbidden to an individual. * * * The fact that the sole owner of the
stock of the corporation is an individual does not change those rights/'
(Jenkins v. Moyse, New York Court of Appeals, July 8, 1930, N. Y. Law
Journal, July 26, 1930. P. D. 2988.)
INTEREST AND USURY.—Statute denying corporations the defense of usury—
Constitutionality. (Wm. S. & John H. Thomas, Inc., v. Union Trust
Co. (Set. Mich. 1930), 231 N. W. 619. P. D. 2988.)
PRESENTMENT, PROTEST, AND NOTICE
of notary's certificate
where defendant serves affidavit that he has not received notice of dishonor. (Hartenstein v. Vesta Mfg. Corp., Set. 1929, 239 N. Y. Supp.
331. P. D. 4080.5.)
TAXATION

PRESENTMENT, PROTEST, AND NOTICE.—Incompetency

IOWA

TAXATION—STATE,—Double inheritance tax on intangibles—Notes secured by
mortgage on real estate. (People's Bank of Buffalo v. State, Iowa 1930,
228 N. W. 638. P. D. 4702.5KO



REPORT OF THE COMPTROLLER OF THE CURRENCY

243

TRUSTS
TRUST COMPANIES AND TRUST FUNCTIONS.—Double commissions as executor and

trustee.
in the absence of language so clear and unequivocal as to make a contrary determination absurd, a testator should never be deemed to have
contemplated that where the same individual is to act from start to finish
in the administration of his estate, such action should be construed to be
in two different capacities so as to entitle such representative to double
commissions.
Since the questions here involved are presented virtually ex parte by
representatives of those financial institutions which will profit to the extent
of an almost incalculable aggregate sum if a contrary rule should be established, it is incumbent on the court, as the trusted guardian of the interests
of the fatherless and the widow, to clarify its position so far as possible in
order that an appellate tribunal may have such benefit as may be derived
from the experience and research of the court of first instance, to which
this problem is a matter of daily occurrence. (Matter of Kings County
Trust Co. (Florence Fletcher Jackson, dec'd), New York Law JL, Oct. 21,
1930. P. D. 598.)
BANKS AND BANKING—LIABILITY OF BANK OR TRUST COMPANY FOR UNSOUND
INVESTMENTS AUTHORITY TO RETAIN INVESTMENTS.

In trust relations these days, when trust companies have entered the
business, much more is expected from a corporate trustee than from the
old-fashioned individual executor or trustee. Trust companies seek this
character of business, claiming that they are specially qualified and financially responsible. They make a specialty of trust matters and claim to
be familiar with the authority of executors and trustees as to trust investments. They have claimed that each estate and trust will receive the
personal attention of one trust executive whose life work is the administration of estates and trusts, and decisions with regard to the purchase and
sale of securities will be independently arrived a t by these officers in consultation with investment experts. (Matter of Fulton Trust Co., Surrogate Slater, Westchester County, New York Law JL, June 25, 1930. P. D.
602.3&)
TRUST

COMPANY PRACTICING LAW-CONTEMPT PROCEEDINGS.

(In re

Eastern

Idaho Loan & Trust Co. (Set. Ida. 1930), 288 Pac. 157. P. D. 1644.7.)




EXHIBIT A
IN THE UNITED STATES CIRCUIT COURT OF APPEALS, FOR THE
THIRD CIRCUIT
No. 4485. October Term, 1930
PORT

NEWARK

NATIONAL BANK OF NEWARK, APPELLANT, V. EDWARD
WALDRON, APPELLEE

No. 4493.

M.

October Term, 1930

F. RAYMOND PETERSON, AS RECEIVER OF PORT NEWARK NATIONAL BANK OF
NEWARK, DEFEND ANT-APPELLANT, V. EDWARD M. WALDRON, COMPLAINANTAPPELLEE

Appeals from the District Court of the United States, for the District of New Jersey
(Filed October 29, 1930)
Before BTJFFINGTON, WOOLLEY and DAVIS, Circuit Judges
BUFFINGTON, J .

These are appeals by the Port Newark National Bank of Newark, New Jersey,
and F. Raymond Peterson, appointed receiver of the bank by the Comptroller
of the Currency, from an order of the Court below ousting him from the possession of the property and assets of said bank. The facts in the case are these.
The National Bank in question was in grave financial difficulties when on August
7, 1930, L. K. Roberts, Chief National Bank Examiner, in pursuance of his duty
as such, visited the bank and was there in conference with its officers and Julius
S. Rippel, President of the Merchants & Newark Trust Company. The officers
of the bank hoped to tide over its difficulties and prevent its being closed by the
acceptance of an offer by Mr. Rippel to take over the bank and assume its known
liabilities. The negotiations reached a point that day where they were about to
be consummated the next day when certain court proceedings hereafter referred
to made it impossible to carry out the arrangements and prevent the closing of
the bank. On being informed of such facts, the Comptroller of the Currency,
the morning of the 8th, issued an order directing that "from information on file
in this bureau, I am satisfied that 'The Port Newark National Bank of Newark/
located in the City of Newark, County of Essex 7and State of New Jersey, is insolvent and unable to pay its just and legal debts/ and appointing F. R. Peterson
receiver of the bank, "with all the powers, duties and responsibilities given to
or imposed upon a receiver under the provisions of the Revised Statutes of the
United States which authorize the appointment of a receiver." The statute
noted provides: "Whenever the Comptroller shall become satisfied of the insolvency of a National Banking Association, he may after due examination of its
affairs * * * appoint a receiver who shall proceed to close up such association."
In pursuance of such appointment, Peterson immediately took possession of
and closed the bank. It thus appears that the Comptroller, through his Bank
Examiner, was engaged in supervising the bank on August 7th, and when advised
the proposed sale could not be effected, immediately appointed a receiver. It is
clear that on August 7th and from then on, the Comptroller was exercising his
supervisory powers and had assumed direction and control of the affairs of the
bank with reference to its proposed sale. What then was the status of the
receiver? In that regard the authorities are clear that the appointment of receivers by the Comptroller is part of a complete Federal system looking to the
control of National banks and that such receivers are not like a receiver appointed
by a court, but are officers of the United States and their possession of the bank
is the possession of the United States. Touching the first point, the Supreme
Court in Easton v. Iowa, 188 U. S. 231, after citing the legislation creating the
245



246

REPORT OF THE COMPTROLLER OF THE CURRENCY

National bank system, says: " I t thus appears that Congress has provided a symmetrical and complete scheme for banks to be organized under the provisions of
this statute." To the same effect is United States v. Weitzel, 246 U. S. 534,
where it is said: "The Comptroller of the Currency is charged with the duty of
supervising National Banks. When he deems it necessary to take possession of
the assets of a bank and assume control of its operations, he appoints a receiver
under Revised Statutes, Sec. 5234, Comp. Stat. 1916, Sec. 9821." This was in
line with the earlier case of Cook County National Bank, 107 U. S. 448, where
it is said: "We consider that Act as constituting in itself a complete system for
the establishment and government of National banks, prescribing * * * their
liability to be placed in the hands of a receiver, and the manner, in such event,
in which their affairs shall be wound up, etc." Touching the second point, it
was also said in the first case: "Our conclusions upon principle and authority
are that Congress having power to regulate and control the exercise of their
operations; that Congress has dealt with the subject of the insolvency of such
banks by giving control to the Secretary of the Treasury and the Comptroller of
the Currency, who are authorized to suspend the operations of the banks and
appoint receivers where they became insolvent." So also the possession of a
receiver appointed by the Comptroller is not the possession of a court officer,
but is the possession of the United States. Thus, In re Chetwood, 165 U. S. 458,
it is said:
"The Receiver was not the officer of any court but the agent and officer of the
United States, as ruled by Mr. Justice Gray, on circuit, in Price v. Abbott, 17
Fed. Rep. 506, and by Mr. Justice Jackson, then Circuit Judge, in Armstrong v.
Trautman, 36 Fed. Rep. 275. And see Porters. Sabin, 149 U. S. 473,479; Platt
v. Beach, 2 Ben. 303; Freilinghuysen v. Baldwin, 12 Fed. Rep. 395; Armstrong v.
Ettlesohn, 36 Fed. Rep. 209. * * * The receiver acts under the control of
the Comptroller of the Currency and the moneys collected by him are paid over
to the Comptroller, who disburses them to the creditors of the insolvent bank."
From the above it will be seen that on and from August 7th the Comptroller was,
first by his bank examiner and later by his receiver, performing the duties of
supervision and possession vested in him by Federal law and that his receiver
was "the agent and officer of the United States" in possession of the bank
and its assets. These appeals raise the question whether he was by the Court
lawfully deprived of such possession as i i the agent and officer of the United States."
How this was done we now state. About five o'clock on the afternoon of
August 7th, Edward M. Waldron, a stockholder of the bank, presented to the
Judge below in chambers at Newark a bill against the bank, which was in the
same city, alleging its insolvency and praying for an injunction and the appointment of a receiver. We here note that although the bill, which was not verified,
was supported by an affidavit made the day previously, no notice was given to
the bank of the presentation and filing of the bill or no conference had with the
Comptroller. Moreover, no proffer was then or any time subsequently made of a
bond in accordance with Sec. 18 of the Act of October 15, 1914, which provides:
"Except as otherwise provided in Section 16 of this act, no restraining order or
interlocutory order of injunction shall issue, except upon the giving of security
by the applicant in such sum as the court or judge may deem proper, conditioned
on the payment of such costs and damages as may be incurred or suffered by
any party who may be found to have been wrongfully enjoined or restrained
thereby."
On presentation of the bill the Court below granted a rule on the bank, returnable August 11th, to show cause why a receiver should not be appointed and
"ordered that until this order should be made absolute or discharged the said
defendant, Port Newark National Bank of Newark, its officers, servants and
agents absolutely desist and refrain from exercising any of its privileges and
franchises, except in the ordinary course of business, until otherwise ordered."
On return of the rule on August 11th, the Court entered an order on August 13th,
over the protest of the Comptroller's receiver and of the bank, appointing a
court receiver for the bank "with full power and authority to * * * take
into his possession all the goods and chattels, rights and credits, moneys and
effects, lands, tenements, books, papers, choses in action, bills, notes and property of any kind and every description of said defendant wheresoever situated."
In obedience to this order the Comptroller's receiver surrendered possession to
the Court's receiver and took an appeal—as did also the bank.
We pass over the omission to give notice to the bank of the filing of the bill
and the application for a receiver; of the failure to give bond either when the
injunctive ex parte restraining order of August 7th was entered, or indeed when
the final injunction order of August 13th was made; of the effect of the filing



REPORT OF THE COMPTROLLER OF THE CURRENCY

247

of the bill in precipitating the closing of the bank and making impossible of performance the acceptance of Mr. RippeFs offer on behalf of the Merchant's &
Newark Trust Company of taking over the bank and preventing its closing;
and confine ourselves solely to the question whether the Comptroller's receiver
was lawfully ousted from his possession. We are of opinion he was not. This
is not a conflict between two courts of coordinate jurisdiction, but is one between the judicial and the executive arm of the sovereignty. In our view, the
threatening status of this bank on August 7th and its efforts to prevent its failure
necessitated the supervision and "dominion" of the Comptroller and when that
duty was begun by the bank examiner the Comptroller had "dominion" over the
bank's affairs and so continued until the efforts to prevent closing the bank
were defeated by the filing of this bill. When this happened, it became the duty
of the Comptroller, who as his order stated, had "information on file in this
bureau that the bank is insolvent," to appoint a receiver and close the bank.
The wisdom of his so doing prevented a run and a depletion of the bank's assets.
For it will be observed that the Court's order of August 7th was not to close the
bank, but to except from its order "the ordinary course of business of the bank "—
a situation that would have precipitated a run upon it and a depletion of its
assets from August 7th until August 13th, when the Court's order appointing a
receiver was entered. Indeed the manifest inadequacy of the action of the
Court to protect the assets of the threatened bank in its order of August 7th,
and the promptness and efficacy of the Comptroller's order of August 8th to
close the bank and put his receiver in physical possession of its assets is evidenced
in the record wherein the Court below said: " I believe the Comptroller by his very
prompt action, frustrated a situation which would have been most disastrous."
It requires no stretch of the imagination to see that if the bank had been given
notice of the proposed filing of this bill and had opportunity been afforded it to
have informed the Judge of the presence of the bank examiner of the negotiations
pending with a man of Mr. Rippel's financial position, the "most disastrous"
situation would not have arisen. Whether indeed the right of a Comptroller
in every instance to appoint receivers is not paramount and exclusive is a question we do not feel called on to now decide because the present case does not so
require.
In that regard we also note that in Korbly v. Springfield Trust, 245 U. S. 330,
the Supreme Court said:
"From the earliest days of the administration of the National Banking Act
to this case attempts have been made in many forms to give to it a technical
construction which would so restrict the powers of the Comptroller as to greatly
delay and impede the settlement of the affairs of insolvent banks. But this
court has uniformly declined to narrow the act by construction, and has placed
a liberal interpretation upon its provisions to promote its plain purpose of expeditiously and justly winding up the affairs and paying the debts of such
unfortunate institutions."
Not only the research of counsel, but our independent research, has shown
no case where a Federal or State Court has appointed a receiver for a going National
bank as distinguished from one in liquidation. Sufficient to say that in the
present case we regard the Comptroller at the time this bill was filed as having
complete dominion over and, by his bank examiner, full legal control of the then
and. future operations of the bank, and that such situation might ultimately
require the appointment of a receiver. Consequently the Court below, when
the bill wasfiled,acquired no jurisdiction to shear the Comptroller of the statutory
power to take the further step of appointing a receiver in case insolvency existed
and the attempted sale fell through. As the order states the Comptroller had
on file at that time information of the insolvency of the bank, it is clear he had
already complied with the statutory provisions of "on examination of its affairs,"
after which he "may appoint a receiver."
So holding, the case is remanded to the District Court with instructions that
the receiver appointed by the Court be discharged, first accounting to the Comptroller's receiver for his doings and restoring to him possession of all of the bank's
property; that the receiver appointed by the Comptroller be restored and that
the bill be dismissed with costs both on these appeals and in the court below
to be taxed against the complainant in the bill.
A true Copy:
Teste:
22439°—31
17



Clerk of the United States Circuit
Court of Appeals for the third Circuit.

248

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE No. 1.—Comptrollers and Deputy Comptrollers of the Currency, dates of
appointment and resignation, and States whence appointed
No.

Date of
appointment

Name

Date of
resignation

State

COMPTROLLERS OF THE CURRENCY

May
Mar.
Feb.
Apr.
May
Apr.
May
Aug.
Apr.
Jan.
Oct.
Apr.
Feb.
Mar.
May
Dec.
Nov.

9,1863
21,1865
1,1867
25,1872
12,1884
20,1886
1,1889
2,1892
26,1893
1,1898
1,1901
28,1908
2,1914
17,1921
1,1923
20,1924
21,1928

Mar.
July
Apr.
Apr.
Mar.
Apr.
June
Apr.
Dec.
Sept.
Mar.
Apr.
Mar.
Apr.
Dec.
Nov.

8,1865
24,1866
3,1872
30,1884
1,1886
30,1889
30,1892
25,1893
31,1897
30,1901
28,1908
27,19131
2,1921
30,1923
17,1924
20,1928

Indiana.
New York.
Ohio.
Minnesota.
Do.
South Carolina.
Michigan.
New York.
Illinois.
Do.
Do.
New York.
Virginia.
Ohio.
Illinois.
Do.
Ohio.

May
Aug.
Mar.
Aug.
Jan.
Jan.
Aug.
Apr.
Mar.
Sept.
June
July
May
July
Jan.
July
July
Dec.

McCulloch, Hugh
Clarke, Freeman._
Hulburd, Hiland K
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
Pole,J. W . . . _

9,1863
1,1865
12,1867
8,1872
5,1886
27,1887
11,1890
7,1893
12,1896
1,1898
29,1899
1,1908
21,1923
1,1923
6,1925
1,1927
6.1927
1.1928

Aug.
Jan.
Apr.
Jan.
Jan.
May
Mar.
Mar.
Aug.
June
Mar.
Feb.
Dec.
June
Nov.

1,1865
31,1867
24,1872
3,1886
3,1887
25,1890
16,1893
11,1896
31,1898
27,1899!
2,1923
14,1927
19,1924
30,1927
30,1928

New York.
Ohio.
Minnesota.
New York.
Do.
Virginia.
Indiana.
Kentucky.
South Carolina.
New York.
District of Columbia.
Indiana.
Illinois.
Do.
Virginia.
Maryland.
Indiana.
Washington.

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 . O
.__
Gough, E. H
Proctor, John L
_
i Term expired.

a Died Mar. 2,1923.

TABLE N O . 2.—Names and compensation of officers and clerks in the office of the
Comptroller of the Currency, October 31, 1930
Name
Quinn, Edmund F.___
Yeatman, John P
Gross, Clyde E
Kane, William A
Marble, George R
Avery, Antoinette
Burton, Russell O
Offutt, William F
Fuller, Jane L
__
Johnston, Edna E
Thompson, George
Frye, Ruby M
Reese, William H
Verrill, Harry M
Wilson, Gordon K
Bock, Carl.
Tucker, Samuel M
Wigginton, Norval P_.
Ellis, H. B
Herndon, John W
Buell, Willard E
Hanlon, Margaret T__
Lewis, John O
Basinger, Walter S
O'Mara, Vera L
Moyer, Alta T
Tylor, Gertrude I




Designation
Administrative officer
Senior administrative assistantJunior administrative officer
Senior administrative assistant..
.do
_do_.
Junior administrative assistantdo
do
_do_.
_do_.
_do_.
_do_.
do
do
._.
Principal clerk
Junior administrative assistantdo..
Principal clerk.
do
.....do
Senior clerk
.do
Principal clerk__
Senior clerk
_.
Senior clerk stenographer..
do

Salary
$4,800
3,700
3,600
3,400
3,300
3,300
3,200
2,900
2,800
2,800
2,800
2,700
2,700
2,700
2,700
2,700
2,600
2,600
2,500
2,500
2,400
2,400
2,400
2,300
2,300
2,300
2,300

EEPORT OP THE COMPTROLLER OF THE CURRENCY

249

TABLE N O . 2.—Names and compensation of officers and clerks in the office of the

Comptroller of the Currency, October SI, 19S0—Continued
Name
Wheian, Marjorie B
Murphy, Maud V
Lovelly, Laura F
O'Brien, May F
Heizer, Helen V
Jones, Margaret E
Lamb, Joseph E._.
Reed, S. E_
Wright, Nellie K
Bentley, Thomas B
Friederichs, Minna K
Jump, Mollie C
Pumphrey, Carrie B
Trumbull, Annette
Andrews, Ettie F
Haley, Johu R
Hilleary, Rua
Jones, Nell H
Harris, John E
Clagett, Dorothy L
Horsey, Olga S
Heizer, Nannie B
Munnerlyn, Joseph A
:
Nolan, Lida A
Smith, Helen M
Young, Grace E
Beall, Clara M ni_II I_I_I_IIIIIZZZZ
Erickson, Bertha V
Jamieson, William G
Lowell, Harriet P
Bales, Anna S
Brumbaugh, Delia L
Chisholm, Elizabeth
Colburn, Nellia A
Hopkins, Edna I
Magruder, Edith P___
Nichols, Sada C
Schiller, Ernestine H
Vernort, Josephine G
Weeks, Katherine
Buckley, Regina C
Walker, Johanna S
Mortimer, Mary H
Jorgenson, John A
Kelly, George
•
Baldwin, Wallace N
Burlingame, Delia J
Hewson, Ella
Barry, Gertrude I
Crocker, Henry A. D
Haymon, N . Mabel
Mallet, Katherine H
McCrone, Clara O'B
McKinney, Elva L
Quackenbush, Dorothy S
TschifEely, Lacey B. R
Dodge, Victor H
Haygood, Ethel___
Stafford, Catherine M
Dyson, Aline
Dailey, William
_
Hueter, Marion R
Israel, Frank T
Smith, Clara E
Watts, Metta F
Sazama, Alice R
Gorham, W. Abbott
Lonergan, Bertha M
McPherson, Mabel E
Rauseh, Lucile M
Glenn, Frances Moncure
Mueller, Pauline
Barksdaie, George T
Canavan, Josephine M
McFadden, Arthur M
Wilson, Mildred C
Wolfe, Alice M
Kidd, Jeannette B
—
O'Donnell, Josephine A
Parsons, Edith N
Frock, Annie C
_
_..




Designation
Senior clerk stenographer.
Senior clerk
Clerk
do..
Senior clerk.
....do
do
Senior clerk stenographerClerk
Assistant clerk
Clerk stenographer..
do
Clerk
....do
do
Clerk stenographer.
do
Assistant clerk
...do
....do
....do
Head typist
Assistant clerk
Senior operator, office devices.
Clerk.
Assistant clerk.
do
do
.do..
_do_.
..do..
_do_.
.do..
..do..
..do..
_do_.
..do..
Assistant clerk stenographer..
Junior clerk
do..
.do..
..do..
..doAssistant clerk.
do
do
.do.,
.do..
.do..
..do..
..doAssistant clerk stenographer..
do
.doSenior stenographer..
Junior clerk..
Assistant clerk,
.do.,
.do..
Assistant clerk
Assistant clerk stenographer..
Senior stenographer
do.
_do_.
-do-.
Junior clerk
do..
Assistant clerk,
.do
.do
-do.,
-do..
Senior operator, office devices.
Junior clerk
Senior typist
Junior clerk.

Salary
$2,300
2,200
2,160
2,040
2,000
2,000
2,000
2,000
2,000
1,980
1,980
1,980
1,980
1,980
1,920
1,920
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
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
1,740
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
1,620
1,620
1,620
1,620
1,620
1,620
1,620
1,620
1,620

250

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, 1930—Continued
Designation

Name

Junior clerk.
—-do
doUnder clerk.
Junior clerk,
do .
Junior operator, office devices.
do
Junior clerk
do
Under clerk.
..—do
do
do
Junior clerk typist _
Junior clerk
Under clerk.
Junior clerk_
doJunior mechanic.
Messenger
doJunior clerk
Junior operator, office devices,
do..
Junior stenographer.
do
Under clerk
do
.do..
_do_.
-do..
_do-.
-do..
.do_do_.
-do..
-do-

Harleston, Catherine
Elmore, Annie L
Taylor, Mathilda S
Chiles, Charles E
Smith, Charles A
Wood, Kathleen
Chamberlain, Robert J._Kemether, Eva C
Croson, Maud B
Kellam, Margaret M
Keim, Charles C
Dillard, John
Cook, George M
Marks, Grace J
Shely, Myrtle B
Dillon, Minnie L
Curtin, Anna E
Brown, Edith L
White, Grace M
Weeks, George W
Braxton, Henry
Whiteman, Edgar
Sheward, Adelaide H
Shaffer, Dorothy L
Smith, Mabel W
Moore, May LaPorte
Parsons, Ruth
Dowden, Eleanor C
DuRant, Anna K
Dutrow, Mary H
Duvall, Grace N
Hatter, Madeline B
Mennel, Theresa
Reese, Aline
Roberts, Victoria
Miller, Bcllmn
Haley, Mary C
Settle, May C. W
Simms, Harry E
Blount, Joseph T
Carroll, John I
Cover, Thomas A
Holland, Thomas
Jones, GeorgeS
Mims, Alvin E
Taylor, John H
Mann, Harry C
Gervais, Gladys E
Hill, Edgar W
Mundie, James F
Barrett, Lester J
Berkley, G u y H
Poles, James
Thompson, Frank
Marshall, Eugene H
Moss, Benjamin F
Cooper, Mary B
Taylor, Mary F

TABLE N O . 3.—Number

Messenger..
.do_.
...do..
.do..
_do_.
.do..
do
Under clerk,
doMessenger
Under clerk
Messenger
do
:
-do..
-do..
-doMinor mechanic
Minor domestic attendant _
do

Salary
$1,620
1,620
1,620
1,620
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
1,440
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, 380
1, 380
1,380
1,380
1,380
1,380
1,380
1,380
1,380
1,380
1,380
1,320
1,320
1,320
1,260
1,260
1,260
1,260
1,260
1,200
1,200
600
600

of national banks organized since February 25, 1863,

number passed out of the system, and number in existence October 31, 1930
Under act of Feb. 25, 1863
Under act of June 3,1864
Under gold currency act of July 12,1870
!
Under act of Mar. 14,1900
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 i
_
_
_
Total number passed out of the system
Number now in existence
1

Exclusive of those restored to solvency.




_

456
8,331
10
4,701
_ 13,498
_
4,418
208
313
1,341
6,280
_ 7,218

REPORT OF THE COMPTROLLER OF THE CURRENCY

251

TABLE N O . 4.—Authorized capital stock of national banks on the first day of each
month from January 1, 1926, to November 1, 1930, 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 reports 1920 and 1927]

Date

1926
January
February
March
April__May
June.
July
August
September
October___
November
December
1927
January.February
March
April
May
June
July
August
September
October
November
December
1928
January
February
March
April
May
June
July
August
September
October
November
December
January
February
March
April
May
June
July.—
August
September
October
November
December

1929

Number of
banks

United
Circulation
secured
Authorized States bonds by United
on deposit
capital stock
to secure
States
circulation
bonds

Lawful
money on
deposit to
redeem
circulation

Total
nationalbank notes
outstanding

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, 215 666, 273,130
1, 392,178, 205 665, 363, 590
1,397,304,455 665, 235, 640
1, 400, 003, 655 665, 568,140
1, 418, 643, 655 665, 686,140
1,420, 271,155 665, 465,140
1, 420, 087, 405 665, 616, 390
1, 422, 654, 905 665, 941, 890
1, 422, 749, 905 665, 889, 940
1, 421, 369, 905 665,830, 440
1, 422,132, 405 665, 492, 880
1, 413, 850, 405 666, 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
7,833

1, 417,160, 405 666, 211, 440
1,421,452, 905 664, 503, 940
1, 445, 067, 905 666,138, 640
1, 474, 432, 905 665, 641, 990
1, 470, 085, 905 665, 724, 930
1, 474, 055, 905 667, 095, 680
1, 481, 279, 615 666, 991,130
1, 485, 989, 615 667,156, 290
1, 486, 712, 615 667,143, 790
1, 500, 437, 615 666, 985, 790
1, 502, 697, 615 666, 873, 290
1, 521, 797, 615 666, 830, 210

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
663,340, 675

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
39, 060, 424

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
702, 401, 099

7,821
7,810
7,793
7,783
7,761
7,748
7,745
7,723
7,717
7,716
7,707
7,705

1, 537, 432, 615 667,127, 710
1, 541, 562, 615 666, 230, 710
1, 542, 207, 615 667, 011, 210
1, 564, 712, 615 666,866, 710
1, 585, 632, 615 666,196, 460
1, 585, 547, 615 667, 491, 900
1, 598, 007, 615 665, 658, 650
1, 610, 676,615 666, 643, 200
1, 614, 656, 615 666, 732, 700
1, 620, 279,115 667, 318, 040
1, 619,589,115 667,168,440
1, 630, 507, 448 667, 508, 440

662, 380, 082
659,332, 017
661, 481, 322
662, 412, 992
661,127, 660
661, 522, 450
658, 732, 988
658, 463,423
660, 518,182
660,463, 912
662, 705, 675
663, 931, 957

38, 623, 507
38, 407, 517
38, 250, 372
36, 802, 227
38, 814, 509
39, 757, 992
40, 887, 664
38, 926, 224
38,299, 802
37, 688, 747
37,446, 779
36, 248, 802

701, 003, 589
697, 739, 534
699, 731, 694
699, 215, 219
699, 942,169
701, 280, 442
699, 620, 652
697, 389, 647
698,817, 984
698,152, 659
700,152,454
700,180, 759

7,687
7,666
7,643
7,628
7,601
7,599
7,587
7,565
7,539
7,521
7,506
7,486

1, 636, 452, 948 667, 013, 340
1, 639, 865, 948 667,486, 340
1, 670, 265, 948 666, 432, 090
1, 659, 418,448 666, 630, 890
1,625,654,448 666, 221, 390
1, 626, 902, 040 666, 233,140
1, 635, 308, 915 666,199,140
1, 669, 218,815 666, 407, 040
1, 679, 991, 015 666, 864, 280
1, 676, 066,015 667, 093, 770
1, 686, 251, 665 666, 736,100
1, 692, 229,165 667, 635, 650

662, 904, 627
662,455, 487
659, 651, 580
661, 924,472
663, 364, 517
663, 328, 203
662, 773, 570
657, 764, 443
649, 297, 990
652, 823, 980
661, 822, 047
664,115, 977

35, 877, 502
34, 822, 732
35, 231, 759
36, 750, 627
38, 720, 772
39, 651, 731
41, 520, 872
39, 707, 550
38, 652, 573
38, 564, 685
38, 506, 768
37, 465,128

698, 782,129
697, 278, 219
694, 883, 339
698, 675,099
702, 085, 289
702, 979, 934
704, 294, 442
697, 471, 993
687, 950, 563
691, 388, 665
700,328, 815
701, 581, 105

7,472
7,440
7,412
7,372
7,361
7,335
7,311
7,277
7,262
7,243
7,218

1, 714, 224, 015 667, 774, 650
1, 715, 527, 415 667,464, 790
1, 718,132, 565 667,108, 740
1, 717 107,165 667, 251, 240
1, 713, 508,165 667, 650, 750
1, 754, 760, 629 667,156, 250
1, 753, 790, 629 666, 824, 750
1, 752, 883,129 666, 406, 250
1,753,458,129 667, 320, 950
1, 748, 968,129 667, 819, 250
1, 748, 495, 629 669,128, 450

663, 823,167
664, 468,092
664, 928,197
665,107, 343
665, 974, 780
665, 719, 485
665, 607, 070
663, 528, 038
664, 838, 833
665, 853, 557
668,017, 935

34,118, 073
32,115, 298
31, 669, 548
31,066, 745
31, 225, 248
31, 933, 193
32, 710, 398
33, 025, 390
32, 984, 335
33,414, 773
32,137, 965

697, 941, 240
696, 583, 390
696, 59t, 745
696,174, 088
697, 200, 028
697, 652, 678
698, 317,468
696, 553, 428
697, 823,168
699, 268, 330
700,155,900

1930
January
February
March
April
May
June
July
August
September
October
November

NOTE.—Notes redeemed but not assorted not included in circulation outstanding.
NOTE.—New
 series of notes included since July.


252

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 5.—National banks reported in liquidation from November 1, 1929, to

October 31, 1930, the names, where known, of succeeding banks in cases of suecession, with date of liquidation and capital
Date of
liquidation

Name and location of bank
The Union National Bank of Okmulgee, Okla. (11963), absorbed by The
Citizens National Bank of Okmulgee
_
_
The Franklin National Bank, Franklin, Ind. (3338), succeeded by Franklin
National Bank
Citizens National Bank of Jamestown, N. Dak. (7820), succeeded by The
National Bank and Trust Company of Jamestown
The Commercial National Bank of Sherman, Texas (10607), absorbed by The
Merchants and Planters National Bank of Sherman
The First National Bank of Palmyra, New York (295), absorbed by The
State Bank of Palmyra
The Merchants National Bank of Point Pleasant, W. Va. (1504), succeeded by
Citizens National Bank of Point Pleasant___
The First National Bank of Farmersville,i Texas (3624), succeeded by The
First National Bank in Farmersville
The California National Bank of Beverly Hills, Calif. (13094), absorbed by
California Bank, Los Angeles, Calif
The Farmers National Bank of Fairview, Kans. (11107), succeeded by Farmers State Bank, Fairview
_
__.
First National Bank in Hollis, Okla. (8825), succeeded by First State Bank
and Trust Company of Hollis
New First National Bank in Silver City, N. Mex. (12710), absorbed by The
American National Bank of Silver City
The First National Bank of Yuma, Ariz. (7591), absorbed by The Yuma
National Bank
The First National Bank of Omemee, N. Dak. (6475), absorbed by The
Merchants National Bank of Willow City, N. Dak
The First National Bank of Quinton, Okla. (6517), absorbed by Farmers
State Bank of Quinton
The Bridgeport National Bank, Bridgeport, Tex. (12409), absorbed by The
First National Bank of Bridgeport
The Merchants and Farmers National Bank of Greensburg, Pa. (2562), absorbed by Union Trust Co. of Greensburg
The National Union Bank of Reading, Pa. (693), absorbed by The Heading
Trust Company
_
The Woodside National Bank of Greenville, S. C. (11499), absorbed by The
Peoples State Bank of South Carolina, Charleston, S. O
The First National Bank of College Springs, Iowa (11295), absorbed by Citizens
State Bank of Clarinda, Iowa
The Citizens National Bank of Slippery Rock, Pa. (8724), absorbed by The
First National Bank of Slippery Rock
The Rempel National Bank of Logan, Ohio (9284), absorbed by First National
Bank in Logan
The National State Bank of Columbia, S. C. (10315), absorbed by Peoples
State Bank of South Carolina, Columbia
The National Park Bank of Livingston, Mont. (3605), succeeded by The
National Park Bank in Livingston
The Polk County National Bank of Bartow, Fla. (4627), taken over on April
16,1929, by The Polk County National Bank in Bartow 2
The Seaport National Bank of Houston, Texas (12566), absorbed by The
City Bank and Trust Company of Houston
Cambridge National Bank, Cambridge, Mass. (13060), absorbed by Central
Trust Company of Cambridge
The Poolesville National Bank, Poolesville, Md. (8860), absorbed by Central
Trust Company of Maryland, Frederick, Md
The First National Bank of Farwell, Minn. (12032), absorbed by Farwell
State Bank
The American National Bank of Enid, Okla. (11584), absorbed by The First
National Bank of Enid
The First National Bank of Campbell, Minn. (6259), absorbed by The First
National Bank of Breckenridge, Minn
Pipestone National Bank, Pipestone, Minn. (10936), succeeded by The
Pipestone National Bank
The Farmers National Bank of Pleasant Hill, Mo. (7154), absorbed by Pleasant Hill Banking Company
The National Bank of Ogdensburg, N. Y. (2446), absorbed by Ogdensburg
Trust Company
_•
_
__ _
The Textile National Bank of Philadelphia, Pa. (7522), absorbed by Industrial
Trust Company of Philadelphia
The First National Bank of Glouster, Ohio (8423), absorbed by The Glouster
State Bank
The First National Bank of Strawberry Point, Iowa (9069), succeeded by
Union Bank and Trust Company, Strawberry Point
The First National Bank of Gardena, Calif. (10453), absorbed by Bank of
America of California, Los Angeles, Calif
The National Bank of Sumter, S. C. (10670), absorbed by Peoples State Bank
of South Carolina, Columbia, S.C
_
The National Bank of Delaware at Wilmington, Del. (1420), absorbed by
Security Trust Company, Wilmington
_
i Placed in charge of a receiver Aug. 6,1930.



Capital

Oct. 12,1929

$100,000

Oct. 24,1929

125,000

Aug. 23,1929

50,000

Oct. 31,1929

250,000

Oct. 19,1929

50,000

Nov. 5,1929

100,000

Oct. 25,1929

50,000

Nov. 2,1929

100,000

Oct. 30,1929

25,000

Oct. 26,1929

30,000

Nov. 9,1929

100,000

Nov. 20,1929

100,000

do

25,000

Nov. 9,1929

25,000

Nov. 1,1929

25,000

Nov. 26,1929

150,000

Nov. 30,1929

200,000

Nov. 25,1929

250,000

do__

50,000

Nov. 30,1929

35,000

Nov. 15,1929

50,000

Dec. 3,1929

200,000

Dec. 1,1929

100,000

Nov. 8.1929

200,000

Nov. 12,1929

250,000

Dec. 4,1929

200,000

Dec. 14,1929

25,000

Dec. 13,1929

25,000

Dec. 20,1929

200,000

Dec. 14,1929

25,000

Dec. 20,1929

50,000

Dec. 27,1929

35,000

Dec. 31,1929

300,000

Jan.

1.1930

500,000

Jan. 2,1930

25,000

Dec. 23,1929

25,000

Nov. 16,1929

50,000

Dec. 30,1929

200,000

Jan. 4,1930
2 Receiver appointed June 28,1929.

110,000

REPORT OF THE COMPTROLLER OF THE CURRENCY

253

TABLE N O . 5.—National banks reported in liquidation from November 1, 1929, to

October 31, 1980, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued
Name and location of bank

The Lawrence National Bank of North Manchester, Ind. (3474), succeeded by
Indiana Lawrence Bank & Trust Company, North Manchester
The American National Bank of Winter Haven, Fla. (12100), succeeded by
The American National Bank in Winter Haven
_._
The First National Bank of Seward, Nebr. (2771), absorbed by The Jones
National Bank of Seward
The Morris National Bank, Morris, Okla. (11932), succeeded by Morris State
Bank.
The First Nationl Bank of Ridgeville, Ind. (8351), absorbed by Citizens State
Bank of Ridgeville
The First National Bank of Alvarado, Texas (3644)
The Farmers National Bank of Princeton, 111. (2165), absorbed by The First
National Bank of Princeton and The Citizens National Bank of Princeton,
which banks were consolidated Jan. 2, 1930, under charter and title of
Citizens First National Bank of Princeton
The Malvern National Bank, Malvern, Iowa (8057), succeeded by Malvern
Trust & Savings Bank
The First National Bank of Fredericksburg, Iowa (10541), absorbed by First
State Bank, Fredericksburg
The First National Bank of Hartsville, Ind. (7354), absorbed by Hope State
Bank, Hope, Ind
The East Side National Union Bank of Jackson, Mich. (13072), absorbed by
National Union Bank and Trust Company of Jackson
Guardian National Bank of New York, N. Y.3 (13122), absorbed by Brooklyn
Trust Company, Brooklyn, N. Y
The First National Bank of Healdsburg, Calif. (10184), absorbed by Bank of
America of California, Los Angeles, Calif
The National Bank of Sylvania, Ga. (10829), absorbed by Sylvania Banking
Company, Sylvania
The Peters National Bank of Omaha, Nebr. (11829), absorbed by The Omaha
National Bank, Omaha
The Creston National Bank, Creston, Iowa (2833), absorbed by The First
National Bank in Creston
Ardmore National Bank and Trust Company, Ardmore, Pa. (9905), succeeded
by Ardmore Title and Trust Company
The First National Bank of Grand Meadow, Minn. (6933), absorbed by
Exchange State Bank of Grand Meadow
The Farmersville National Bank of Farmersville, Texas (13048), absorbed by
The First National Bank in FarmersvilleThe First National Bank of Portsmouth, Va. {9300), absorbed by American
National Bank of Portsmouth
First National Bank of Iola, Kans. (5287), absorbed by Iola State Bank, Iola...
The Abram Rutt National Bank of Casey, Iowa (8099), absorbed by Citizens
Savings Bank, Casey
The City National Bank of Davis, Okla. (12149), succeeded by City Exchange
Bank of Davis
The Winfield National Bank, Winfield, Texas (12505), absorbed by The First
National Bank in Mount Pleasant, Texas
The First National Bank in Clifton, Texas (12717), absorbed by Farmers State
Bank, Clifton
The First National Bank of Whitesboro, Texas (5847), absorbed by The City
National Bank of Whitesboro, which bank changed title to The Whitesboro
National Bank
The First National Bank of Anaheim, Calif. (6481), absorbed by Bank of
America of California, Los Angeles, Calif
The First National Bank of Crosby ton, Texas (9989), absorbed by Citizens
National Bank of Crosbyton
The Farmers and Merchants National Bank, Milbank, S. Dak. (8698), succeeded by The Farmers & Merchants National Bank in Milbank
The Transportation Brotherhoods National Bank of Minneapolis, Minn.
(12282), absorbed by The Marquette National Bank of Minneapolis and the
Marquette Trust Company of Minneapolis
The First National Bank of Leonard, Texas (5109), absorbed by The Leonard
National Bank, Leonard
The First National Bank of Crandall, Texas (5824), absorbed by The Citizens
National Bank of Crandall
The First National Bank of Sioux Rapids, Iowa (9585), succeeded by The First
National Bank in Sioux Rapids
The National Bank of Hermosa Beach, Calif. (12271), absorbed by Bank of
America of California, Los Angeles, Calif
The Florence National Bank, Florence, Calif. (12624), absorbed by Bank of
America of California, Los Angeles, Calif
The Graham National Bank, Graham, Calif. (12673), absorbed by Bank of
America of California, Los Angeles, Calif
First National Bank in Tishomingo, Okla. (12908), succeeded by First State
Bank, Tishomingo
_
8 With 2 branches in New York City.




Date of
liquidation

Capital

Deo. 23,1929

$100,000

Nov 22,1929

150,00G

3,1930

50,000

Dec. 30,1929
Jan. 2,1930
Dec. 20,1929

25,000

Jan.

25,000
75,000

Jan.

14,1930

110,000

Dec.

6,1929

50,000

Jan.

15,1930

30,000

Jan.

20,1930

25,000
100,000

do

Jan. 18,1930

500,000

Jan.

100,000

7,1930

Jan. 20,1930

25,000

Jan.

9,1930

Jan.

2,1930

100,000

Dec. 11,1929

300,000

Jan.

5,1930

200,000

25,000

Dec. 30.1929

50,000

Jan. 15.1930
Feb. 1,1930

300,000
50,000
50,000

-do_.
Dec. 30,1929

25,000

Dec. 23,1929

25,000

Jan. 25,1930

40,000

Jan. 30,1930

50,000

Jan. 16,1930

200,000

Jan. 30,1930

50,000

Jan. 28,1930

75,000

Feb. 4,1930

200,000

Feb. 11,1930

75,000

Jan. 15,1930

50,000

Jan. 30,1930

50,000

Jan.

3,1930

50,000

N o v . 14,1929

75,000

do

_
.

Dec. 28,1929

75,000
25,000

254

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 5.—National banks reported in liquidation from November 1, 1929, to
October 31, 1930, 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

The First National Bank of Montpelier, N. Dak. (11494), absorbed by the
Montpelier State Bank, Montpelier
Feb. 15,1930
Farmers National Bank of Tazewell, Va. (11633), absorbed by Farmers Bank
of Clinch Valley, Va
Feb. 21,1930
The First National Bank of Reeder, N. Dak, (9684), absorbed by First State
Bank of Reeder.
Feb. 11,1930
The Depew National Bank, Depew, Okla. (11661), absorbed by The State
National Bank of Depew
_
Feb. 18,1930
The First National Bank of Winterset, Iowa (1403), absorbed by the Winterset Savings Bank, "Winterset
L.
Feb. 20,1930
The Commercial National Bank of Union City, Ind. (6094), succeeded by
Commercial Bank & Trust Company, Union City
Feb. 28,1930
The Burley National Bank, Burley, Idaho (11438), succeeded by Burley Bank
<c Trust Co
f
Mar. 1,1930
The State National Bank of Karnes City, Texas (12689), absorbed by The
Jan. 15,1930
Karnes County National Bank, Karnes City
The Live Stock National Bank of Pawhuska, Okla. (13356)
Nov.
First National Bank and Trust Company of Owensboro, Ky. (2576), absorbed
29.1929
by First-Owensboro Bank & Trust Co
Mar.
The Security National Bank of Nocona, Texas (10163), absorbed by The
3,1930
Farmers and Merchants National Bank of Nocona
Feb.
The Wallins National Bank of Wallins Creek, Ky. (12202), absorbed by The
28.1930
Harlan National Bank, Harlan, Ky
The First National Bank of Ligonier, Pa. (6281), succeeded by Ligonier National Bank, Ligonier
Mar. 3,1930
The National Bank of Ligonier, Pa. (6832), succeeded by Ligonier National
Bank, Ligonier
_
do
Peoples-First National Bank of Charleston,4 S. G* (1621), succeeded by Peoples State Bank of South Carolina, Charleston..
Mar. 1,1930
The Citizens National Bank of Barnesville, Ga. (12404), absorbed by The
First National Bank of Barnesville
Mar. 6,1930
The City National Bank and Trust Company of Dayton,« Ohio (2874), succeeded by The Union Trust Company of Dayton
Mar. 8,1930
The First National Bank of Colton, Calif. (3573), absorbed by United Security
Bank and Trust Company of San Francisco, CaliL, which afterwards became Bank of America of California, Los Angeles, Calif
Feb. 26,1930
The Front Royal National Bank, Front Royal, Va. (2967), succeeded by The
Citizens National Bank, Front Royal
_"
.
Jan. 20,1930
The First National Bank of Lanesboro, Minn. (10507), absorbed by ScanlanHabberstad Bank & Trust Company, Lanesboro
Feb. 18,1930
The First National Bank of Bagwell, Texas (10.657)
The National Bank of Bloomfield, Iowa (9303), absorbed by The State Bank Jan. 20,1930
of Davis County, Bloomfield
_
-_
The Farmers and Merchants National Bank of Achille, Okla. (10380), absorbed Feb. 26,1930
by The Durant National Bank in Durant, Okla—The Exchange National Bank of Little Rock, Ark. (3300), succeeded by Mar. 4,1930
American Exchange Trust Company of Little Rock
The First National Bank of Iona, Minn. (7128), absorbed by Murray County Feb. 21,1930
State Bank of Slayton, Minn
_
___
The Bevans National Bank of Menard, Texas (11414), succeeded by Bevans Feb. 27,1930
State Bank of Menard
_
Dec. 31,1929
The First National Bank of Canby, Minn. (6366), absorbed by Bank of Canby.
do
The Terre Hill National Bank, Terre Hill, Pa. (9316), absorbed by The Blue
Ball National Bank, Blue Ball, Pa.
_
Mar. 7,1930
The First National Bank of New Castle, Texas (10472), absorbed by The First
National Bank of Throckmorton, Texas
___
Mar. 17,1930
The First National Bank of Wrightstown, N. J. (11081), absorbed by The
First National Bank and Trust Company of New Egypt, N. J
Mar. 13,1930
The First National Bank of Van Buren, Ark. (7361), succeeded by The First
and Crawford County Bank, VanBuren_
Mar. 21,1930
Kalamazoo National Bank and Trust Company, Kalamazoo, Mich. (3211),
absorbed by Bank of Kalamazoo and the Kalamazoo Bancshares, Inc
Mar. 25,1930
The City National Bank of Sumter, S. C. (10129), absorbed by The National
Bank of South Carolina of Sumter
do
The First National Bank of Mt. Rainier, Md. (12443), absorbed by Mt. Rainier Branch of Prince Georges Bank, Hyattsville, Md
Mar. 5,1930
The Farmers and Merchants National Bank of Blythe, Calif. (11528), absorbed by The First National Bank of Blythe
.Mar. 1,1930
The Farmers National Bank of Harlowton, Mont. (11085), absorbed by The
Continental National Bank of Harlowton
Jan. 22,1930
The National Bank of Baltimore, Md. (1432), absorbed by Union Trust ComMar. 31,1930
pany of Maryland, Baltimore
The First National Bank of Dry Ridge, Ky. (7012), succeeded by First State
Mar. 29,1930
Bank and Trust Company of Dry Ridge
The Mount Vernon National Bank and Trust Company, Mount Vernon,
Ind. (12780), absorbed by The Old First National Bank of Mount Vernon__ Mar. 20,1930
The First National Bank of Stuttgart, Ark. (10459), absorbed by First State
Mar. 31,1930
Bank. Stuttgart
The City National Bank of Forney, Texas (6078), absorbed by The Farmers
do
National Bank of Forney...
 * With 2 branches in Charleston.
• Witb 6 hranches in Dayton.



Capital
$25,000
100,000
25,000
25,000
60,000
50,000
50,000
25,000
100,000
137,900
25,000
25,000
25,000
50,000
1,000,000
50,000
750,000
50,000
50,000
50,000
27,500
55,000
25,000
400,000
25,000
100,000
25,000
40,000
25,000
25,000
100,000
500,000
150,000
25,000
50,000
25,000
1, 500,000
50,000
60,000

100,000
60,000

REPORT OF THE COMPTROLLER OF THE CURRENCY

255

TABLE N O . 5.—National banks reported in liquidation from November 1, 1929, to

October 81, 1930, 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

The First National Bank of Stilwell, Okla. (9970), succeeded by Security
State Bank, Stilwell.
Nov. 18,1929
$25,000
The Pacific National Bank of Los Angeles,e Calif. (12454), absorbed by Bank
of Italy National Trust and Savings Association, San Francisco, Calif., and
the Bank of America of California, Los Angeles
Mar. 18,1930
2,000,000
The Citizens National Bank of Fort Gibson, Okla. (10561), absorbed by First
National Bank in Fort Gibson
Mar. 31,1930
25,000
The Red River National Bank of Clarksville, Texas (4982), succeeded by Red
River National Bank in ClarksvilleApr. 8,1930
400,000
The Farmers National Bank of Rockwall, Texas (8204), succeeded by First
Apr. 4,1930
National Bank in Rockwall--50,000
The Grand Island National Bank, Grand Island, Nebr. (9395), absorbed by
Apr. 1,1930
The First National Bank of Grand Island
100,000
The First National Bank of Terrell, Texas (3816), absorbed by The American
Apr. 5,1930
National Bank of Terrell
200,000
The Fishers National Bank, Fishers, Ind. (10419), absorbed by Citizens State
Apr. 7,1930
Bank, Noblesville, Ind .
25,000
The North Ward National Bank of Newark, N. J. (2083), succeeded by The
Apr. 19,1930
North Ward Trust Company of Newark
400,000
The First National Bank of Merit, Texas (7378), absorbed by Citizens State
Apr. 15,1930
Bank of Greenville, Texas
25,000
The First National Bank in Odessa, Wash. (12170), absorbed by Security
Apr. 8,1930
State Bank, Odessa
40,000
The First National Bank of Egeland, N. Dak. (7872), absorbed by The First
Apr. 15,1930
National Bank of Cando, N. Dak
25,000
The First National Bank of Niche, N. Dak. (11110), succeeded by First
Jan. 29,1930
National Bank in Neche
25,000
The Bathgate National Bank, Bathgate, N. Dak. (11112), absorbed by First
.do..
National Bank in Neche, N. Dak
25, 000
The First National Bank of Bingham Canyon, Utah (11631), absorbed by
First Security Bank of Bingham Canyon
Apr. 4,1930
100,000
The Manufacturers National Bank of Leavenworth, Kans. (3908), succeeded
by The Manufacturers State Bank of Leavenworth
Apr. 23,1930
100, 000
The Planters National Bank of Bennettsville, S. C. (6385), absorbed by
Apr. 22,1930
Peoples State Bank of South Carolina, Charleston, S. C
100,000
The Union National Bank of Minot, N. Dak. (7689), succeeded by The Union
Apr. 17,1930
National Bank and Trust Company in Minot
100,000
The First National Bank of Sauk Centre, Minn. (3155), absorbed by The
Apr. 28,1930
Merchants National Bank of Sauk Centre
50,000
The West Coast National Bank of Portland, Oreg. (12470), absorbed by The
Apr. 11,1930
United States National Bank of Portland
500, 000
The First National Bank of Chinook, Mont. (6097), absorbed by The Farmers
Apr. 30,1930
National Bank of Chinook
80,. 000
The First National Bank of Minden, La. (10544), absorbed by Bank of
Apr. 29,1930
Webster, Minden
-50, 000
The First National Bank of Madison, Minn. (6795), absorbed by Madison
Apr. 28,1930
State Bank, Lac qui Parle County Bank, Madison
25, 000
The First National Bank of Williamsburg, Ind. (8625), absorbed by The
May 6,1930
First National Bank of Greens Fork, Ind
25,000
The National City Bank of St. Louis, Mo. (11989), absorbed by FranklinApr. 14,1930
American Trust Company, St. Louis__
1, 000, 000
The Reardan National Bank, Reardan, Wash. (10499), succeeded by The
May 3,1930
First National Bank of Reardan
50,000
The Commercial National Bank of Corydon, Iowa (13109), absorbed by
Feb. 24,1930
Oorydon State Bank, Corydon
-_
40,000
The First National Bank of Lamar, Ark. (12238), absorbed by The Farmers
Apr. 29,1930
National Bank of Clarksville, Ark
25, 000
The Labor National Bank of Great Falls, Mont. (11429), absorbed by Conrad
Apr. 30,1930
100,000
Banking Company, Great Falls
The Merchants National Bank of Burlington, Iowa (1744), absorbed by First
Iowa State Trust and Savings Bank, Burlington Savings Bank, American
Savings Bank and Trust Company, Farmers and Merchants Savings Bank,
May 12,1930
100,000
all located in Burlington, Iowa
The Alton National Bank, Alton, 111. (1428), succeeded by First National
May 17,1930
100, 000
Bank & Trust Company in Alton
The First National Bank, Honey Grove, Texas (2867), succeeded by First
Feb. 20,1930
125,000
National Bank in Honey Grove
.
The Citizens National Bank of Alton, 111. (5188), succeeded by First National
May 17,1930
200, 000
Bank & Trust Company in Alton
--The First National Bank of Springfield, S. C. (10586), absorbed by Peoples
May 6,1930
50,000
State Bank of South Carolina, Charlestons. C
The Sanger National Bank, Sanger, Tex. (8690), absorbed by The First
May 15,1930
30,000
National Bank of Sanger
The Old First National Bank of Farmer City,7 111. (4958), absorbed by The
May 10,1930
65,000
John Weedman National Bank of Farmer City
The First National Bank of Hamilton, Mo. (4151), succeeded by The First
May 20,1930
100,000
Bank & Trust Company, Hamilton
_
The First National Bank of McVille, N. Dak. (10721), absorbed by Union
25,000
' Bank of McVille—
- May 12,1930
7

Placed in charge of a receiver Oct. 25,1930.
6 With 8 branches in Los Angeles.


256

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 5.—National banks reported in liquidation from November 1, 1929, to
October 81, 1930, 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

The First National Bank of Greer, S. C. (12025), absorbed by Planters Savings
Bank of Greer
_
May 8,1930
The National Bank of Honea Path, S. C. (12381), absorbed by Bank of Ware
Shoals, S. C—
_
_
Apr. 8,1930
First National Bank in Lowell, Ind. (5931), absorbed by The Lowell National
Bank, Lowell
May 21,1930
The National Bank of New Mexico of Raton, N. Mex. (8098), absorbed by
First National Bank in Raton
_
May 19,1930
The Central National Bank of the City of New York,a N. Y. (12874), succeeded by The Central Bank of the City of New York, N. Y., which merged
into Bank of Manhattan Trust Company
_
May 23,1930
The First National Bank of Chatham, Va. (10821), absorbed by Chatham
Savings Bank, Chatham
__
May 24,1930
The Edgecombe National Bank of Tarboro, N. C. (13306), absorbed by North
Carolina Bank and Trust Company, Greensboro, N. C
__. May 26,1930
The National Bank of Commerce of Frederick, Okla. (10095), absorbed by
The First National Bank of Frederick....
Apr. 26,1930
The First National Bank of Britton, S. Dak. (6073), succeeded by First NaApr. 30,1930
tional Bank in Britton
__
Utica National Bank and Trust Company, Utica,» N. Y. (1308), absorbed by
May 31,1930
Citizens Trust Company, Utica— _
_
The Third National Bank of Columbus, Ga. (3937), absorbed by Columbus
..—do
Bank and Trust Company, Columbus
_
_
The First National Bank of Georgetown, 111. (5285), succeeded by First
May 24,1930
National Bank in Georgetown
The First National Bank of Hyattsville, Md. (7519), succeeded by Prince
May 31,1930
Georges Bank & Trust Company of Hyattsville
The Rugby National Bank of Brooklyn in New York, N. Y. (12948), absorbed
by Globe Bank and Trust Company, Brooklyn, N. Y The Snell National Bank of Winter Haven, Fla. (10379), succeeded by The
Snell National Bank in Winter Haven.
May 1,1930
The First National Bank of Batesville, Ark. (7556), absorbed by North ArkanMay 31,1930
sas Bank, Batesville
The First National Bank of Alturas, Calif. (7219), absorbed by United SeMay 29,1930
curity Bank and Trust Company, San Francisco, Calif...
The Hayes Circle National Bank and Trust of Newark, N . J. (13043), succeeded by Hayes Circle Trust Company, Newark, which is to be merged
June 10,1930
with Federal Trust Company of Newark
The First National Bank of Cottonwood, Minn. (6584), absorbed by Cotton
June 9,1930
wood State Bank, Cottonwood
-..
The First National Bank of Hamilton, Mont. (9486), absorbed by Ravalli
May 31,1930
County Bank, Citizens State Bank, Hamilton
First National Bank of Evergreen, Ala. (7687), absorbed by The Peoples Bank
June 10,1930
of Evergreen
The First National Bank of Monroe, N. C. (8712), absorbed by North Carolina
June 9,1930
Bank and Trust Company, Greensboro, N. C
The First National Bank of Hot Springs, N. Mex. (11011), succeeded by Hot
May 24,1930
Springs National Bank, Hot Springs..
The Macksburg National Bank, Macksburg, Iowa (6852), absorbed by The
Citizens National Bank of Winterset, Iowa, Madison County State Bank,
May 15,1930
Winterset Savings Bank, Winterset
The First National Bank of Emmett, Idaho (6145), absorbed by First Security Bank of Emmett
--— Apr. 21,1930
The First National Bank of Hatton, N. Dak. (6743), absorbed by The FarmJune 18,1930
ers and Merchants National Bank of Hatton
The First National Bank of Hamtramck, Mich. (11082), absorbed by HamJune 21,1930
tramck State Bank
The First National Bank of Clermont, Fla. (11921), succeeded by Citizens
do._
Bank of Clermont
The First National Bank of Itta Bena, Miss. (10688), absorbed by First
June 14,1930
Savings Bank & Trust Co., Itta Bena
The National Bank of Elkton, Md. (1236), absorbed by The Elkton Banking
June 26,1930
& Trust Company of Md., Elkton
__
The National Security Bank and Trust Company, Philadelphia, Pa. (1743),
June 30,1930
absorbed by Kensington Trust Company, Philadelphia
The First National Bank of Hopkinsville, Ky. (3856), absorbed by City Bank
and Trust Company of Hopkinsville, title to be changed to First-City
do
Bank & Trust Company
....-The Pennsylvania National Bank of Pittsburgh, Pa. (4222), absorbed by
Pennsylvania Savings Bank, Pittsburgh, which was succeeded by PennsylJuly 1,1930
vania Bank & Trust Company, Pittsburgh
The Cairo National Bank, Cairo, 111. (6815), absorbed by Alexander County
do
Bank of Cairo
The FirstNational Bank of Westport, Ind. (9175), succeeded by The Westport
.do.
Union Trust Company, Westport
The Columbia National Bank, Columbia, S. C. (12412), succeeded by The
_do.
Central Union Bank of South Carolina, Columbia
_.
» With 2 branches in Utica,
» With 4 branches in New York City.




Capital

$50,000
100,000
50,000
50,000
2, 500,000
25,000
100,000

50,000
50,000
750,000
500,000
60,000
100,000
300,000
200,000
100,000
85,000
500,000
25,000
50,000
50,000
100,000
25,000
25,000
30,000
25,000
100,000
25,000
200,000
100,000
400,000
100,000
200,000
100,000
30,000
500,000

REPORT OP THE COMPTROLLER OF THE CURRENCY

257

TABLE NO. 5.—National banks reported in liquidation from November 1, 1929, to
October 31, 1930, the names, where known, of succeeding banks in cases of suecession, with date of liquidation and capital—Continued
Name and location of bank

Date of
liquidation

Capital

American National Bank of Glendale, Calif. (13071), absorbed by First National Bank in Glendale
July 1,1930
$200,000
The First National Bank of Centerburg, Ohio (8182), absorbed by The Centerburg Savings Bank Company, Centerburg
June 30,1930
25,000
10
The American National Bank and Trust Company of Mount Vernon, N. Y.
(11747), succeeded by the American Bank & Trust Company of Mount
Vernon, which merged with The Mount Vernon Trust Company
July 2,1930
500,000
The First National Bank of Columbus, Nebr. (2807), absorbed by The Central
National Bank of Columbus
June 30,1930
100,000
The First National Bank of Sigourney, Iowa (1786), absorbed by Union SavJune 10,1930
75,000
ings Bank, Sigourney
The First National Bank of Batesburg, S. C. (5595), absorbed by Peoples
June 28,1930
125,000
State Bank of South Carolina, Charlestons. C_
The First National Bank of Max, N . Dak. (11719), absorbed by The First
June 26,1930
25,000
State Bank of Max
The First National Bank of Somerton, Ohio (7984), absorbed by The Citizens
May 5,1930
25,000
Trust Company of Barnesville, Ohio..
The Chariton and Lucas County National Bank of Chariton, Iowa (9024), sucApr. 19,1930
100,000
ceeded by National Bank and Trust Company of Chariton
The Oklahoma First National Bank of Skiatook, Okla. (13361), succeeded by
June 25,1930
25,000
The Exchange Bank of Skiatook
The Home National Bank of Staunton, Tex. (9053), absorbed by The First
June 28,1930
25,000
National Bank of Staunton
The Home National Bank of Lexington, S. C. (9296), absorbed by Peoples
July 15,1930
50,000
State Bank of South Carolina, Charleston, S. C
The Liberty National Bank of Kansas City, Mo. (10039), absorbed by Fidelity
July 10,1930
750,000
National Bank and Trust Company of Kansas City
First National Bank in Huntington Beach, Calif. (12345), succeeded by First
July 5,1930
50,000
State Bank of Huntington Beach
The First National Bank of Albia, Iowa (1799), succeeded by First Iowa State
June 18,1930
50,000
Bank of Albia
The Howard National Bank of Kokomo, Ind. (2375), absorbed by The CitiJuly 15,1930
200,000
zens National Bank of Kokomo
The National Union Bank of Rock Hill, S. C. (5134), succeeded by The
July 1,1930
300,000
Central Union Bank of South Carolina, Rock Hill
The Second National Bank of Freeport, 111. (385), absorbed by The First NaFeb. 1,1930
150,000
tional Bank of Freeport
The First National Bank of Mobridge, S. Dak. (10744), succeeded by First
July 22,1930
50,000
National Bank in Mobridge
The Exchange National Bank of Shreveport, La. (11521), absorbed by First
National Bank of Shreveport, The Commercial National Bank of Shreveport, The American National Bank of Shreveport, City Savings Bank and
Trust Company of Shreveport, Continental Bank and Trust Company of
July 12,1930
200,000
Shreveport
__
The First National Bank of Rockville, Conn. (186), absorbed by The RockJuly 26,1930
100,000
ville National Bank, Rockville
The Farmers & Merchants National Bank of Ivanhoe, Minn. (11627), sucJuly 24,1930
35,000
ceeded by Farmers & Merchants National Bank in Ivanhoe
The First National Bank of Guthrie Center,** Iowa (5424), absorbed by PeoJune 23,1930
75,000
ples State Bank of Guthrie Center
The First National Bank of Wilmore, Ky. (9880), succeeded by First AmeriJuly 30,1930
25,000
can Bank, Wilm ore
The Citizens National Bank of Grinnell,12 Iowa (7439), absorbed by The
July 31,1930
75,000
Poweshiek County National Bank of Grinnell
The Peoples National Bank of Elizabeth, " N . J. (11744), succeeded by The
Aug. 4,1930
300,000
Peoples Banking & Trust Company, Elizabeth
_
The First National Bank of Hotchkiss, Colo. (5976), succeeded by First State
July 19,1930
25,000
BankofHotchkiss
The Atlas Exchange National Bank of Chicago, 111. (10763), absorbed by The
West Side National Bank of Chicago, which changed title to The West
Aug. 1,1930
200,000
Side-Atlas-National Bank of Chicago
The Commercial National Bank of Fort Dodge, Iowa (4566), absorbed by The
Aug. 5,1930
100,000
Fort Dodge National Bank
_
The National Bank of Commerce of Ogden, Utah (7296), absorbed by ComJune 10,1930
250,000
mercial Security Bank of Ogden
._
The First National Bank of Fontanelle, Iowa (7061), absorbed by State SavAug. 12,1930
25,000
ings Bank, Fontanelle
The Union National Bank of New Kensington, Pa. (13084), absorbed by
Aug. 7,1930
100,000
Logan Trust Company of New Kensington
The First National Bank of Blue Hill, Nebr. (3419), absorbed by Commercial
Apr. 29,1930
50,000
Bank, Blue Hill
The Hutto National Bank of Hutto, Texas (9625), succeeded by First National
July 30,1930
25,000
Bank in Hutto
The Peoples National Bank of North Belle Vernon, Pa. (11995), absorbed by
July 22,1930
100,000
The Valley Deposit and Trust Company, Belle Vernon, Pa
1 Placed in charge of a receiver Sept. 6, 1930.
2
° With 1 branch in Mount Vernon.
Placed in charge of a receiver Sept. 15,1930.
1 With 1 branch in Elizabeth.
3




258

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 5.—National banks reported in liquidation from November 1, 1929, to

October 31, 1930, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued
Date of
liquidation

Name and location of bank
The First National Bank of Mount Olive, 111. (7350), succeeded by The First
National Bank in Mount Olive
The First National Bank of Corning, Ark. (7311), absorbed by Corning Bank
& Trust Co., Corning
The American National Bank of Forsyth, Mont. (10942), absorbed by Forsyth
State Bank, Forsyth
The City National Bank of Duncan, Okla. (8616), absorbed by First National
Bank in Duncan
The National Bank of Orosi, Calif. (10328), succeeded by First National Bank
in Orosi
The First National Bank of Valier, 111. (12479), absorbed by The First National Bank of Christopher, 111
The First National Bank of Robstown, Texas (12554), absorbed by Texas
State Bank & Trust Company of Corpus Christi, Texas
The Clayton National Bank, Clayton, Mo. (12329), succeeded by Clayton
National Bank, Clayton
The Brotherhood of Railway Clerks National Bank of Cincinnati, Ohio
(12446), absorbed by The Central Trust Company, Cincinnati
New First National Bank of Howard, S. Dak. (12920), absorbed by Miner
County Bank of Howard
The Farmers and Merchants National Bank of Baltimore,^ Md. (1337), absorbed by The Union Trust Company of Maryland, Baltimore
The Bala-Cynwyd National Bank, Bala-Cynwyd, Pa. (12695), absorbed by
The Merion Title & Trust Company of Ardmore, Pa
The Drovers & Mechanics National Bank of Baltimore,^ Md. (2499), absorbed by The Maryland Trust Company, Baltimore
The Security National Bank of Downers Grove, 111. (13258), absorbed by The
First National Bank of Downers Grove.
The First National Bank of Ashley, N. Dak. (10864), absorbed by First State
Bank, Ashley
The First National Bank of Luverne, Ala. (7992), absorbed by The Bank of

July 28,1930

$70,000

July 30,1930

50,000

Aug. 7,1930

25,000

Feb. 14,1930

60,000

Aug. 6,1930

50,000

Aug. 16,1930

25,000

May 19,1930

50,000

Aug. 29,1930

60,000

Aug. 22,1930

400,000

May 12,1930

25,000

Sept. 3,1930

650,000

Sept. 15,1930
do

 branches in Baltimore.
* With 3


50,000
1,000,000

Aug. 28,1930

100,000

Sept. 13,1930

25,000

Sept.

30,000

9,1930

The First "National Bank "of Welch," W." Va~ "(9"d48y,"absorbed"by "McDowell"
County National Bank of Welch
June 30,1930
The First National Bank of Bushnell, Nebr. (13429), absorbed by Kimball
National Bank, Kimball, Nebr
Sept. 11,1930
The Farmers National Bank of Edinburg, Ind. (6905), absorbed by Thompson State Bank of Edinburg
Sept. 16,1930
The Broadway National Bank and Trust Company of New York, N. Y.
(13327), absorbed by Plaza Trust Company, New York, which changed its
Sept. 29,1930
title to Broadway and Plaza Trust Company
The Genesee National Bank of Buffalo,16 N. Y. (12337), absorbed by ComSept. 30,1930
mercial Trust Company of Buffalo
Farmers National Bank of Hodgenville, Ky. (6894), succeeded by The LinOct. 1,1930
coln National Bank of Hodgenville
The Chester National Bank, Chester, Pa. (2904), absorbed by Cambridge
Oct. 4,1930
Trust Company, Chester
The Producers National Bank of Tulsa, Okla. (12042), succeeded by The
Sept. 3,1930
Fourth National Bank of Tulsa
The First National Bank of Spanish Fork, Utah (9111), absorbed by ComAug. 21,1930
mercial Bank of Spanish Fork
The First National Bank of Westville, Okla. (10158), absorbed by Peoples
Sept. 20,1930
Bank of Westville
The Uniontown National Bank and Trust Company, Uniontown., Pa. (12500),
do
absorbed by The Second National Bank of Uniontown
First National Bank of Lyons at Clinton, Iowa (66), absorbed by The City
National Bank of Clinton
Oct. 7,1930
The Second National Bank of Brownsville, Pa. (2673), absorbed by The
Monongahela National Bank of Brownsville
Sept. 30,1930
The First National Bank of Mead, Colo. (11321), absorbed by The First National Bank of Longmont, Colo
_
_
July 3,1930
The Security National Bank of Dewey, Okla. (9986), absorbed by The First
National Bank of Dewey
June 2,1930
The Blue Hill National Bank of Milton, Mass. (684), succeeded by Blue Hill
Bank <e Trust Company, Milton
f
Sept. 30,1930
Tho First National Bank of Deerfield, Wis. (11577), absorbed by The Bank
of Deerfield
Oct. 15,1930
The First National Bank of Arlington, Texas (11931), absorbed by First State
Bank, Arlington
Oct. 9,1930
The First National Bank of Kimball, W. Va. (11502), absorbed by The Kimball National Bank, Kimball
Aug. 14,1930
The National Exchange Bank of Anderson, Ind. (4685), absorbed by The
Citizens Bank of Anderson
Oct. 6,1930
The First National Bank of Addison, Pa. (6709), absorbed by The First National Bank of Confluence, Pa
_
_
,
Oct. 1,1930
Total (263 banks).

Capital

100,000
25,000
25,000
2,000,000
250,000
110,000
300,000
250,000
25,000
25,000
250,000
100,000
125,000
25,000
25,000
100,000
30,000
50, 000
25,000
100,000
25,000
39,230,400

» With 2 branches in Baltimore.

With 1 branch in Buffalo.

TABLE N O . 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 81, 1930, as shown by their last reports prior to consolidation
Closing banks
Charter
No.

12181
3411
13063
7735

State

^unnyside National
Hillsboro National

Wash..

$50, 000

$10, 000

N. Dak

50,000

jJdnK.

4183

Title and location

$525, 590 8481

N.Y —

500, 000

250, 000

66, 341

50, 000

200,000

101,928

Ohio— 2, 000, 000 1, 200, 000

655, 252

Pa

The Traders National Bank of
Scranton.

Capital

First National Bank

374, 635 3400

$7,631

First National Bank

2, 203, 445 12892

Surplus

$10,000

to
Undivided
profits

Date of
Date of consolireports dation

Aggregate
resources

1929
1929
Oct. 4 Nov. 2
589, 996 ...do
Do.

$8, 778

4, 592,222

50, 000

10, 000

700, 000

350, 000

69, 304

Central

OI

§

150,000

300,000

423,118

2, 500, 000

3, 500, 000

797, 759

71, 493,155

• 1, 535, 650

1, 500, 000

473, 543

75, 000

25,000

50,000

10,000

K

__rdo

Nov. 9

4,101, 771 ---do

Nov. 16

o
g

Do.

H
Sf

34, 478, 723 —do

Nov. 22

g

20, 984

1, 036, 703 —do

Nov. 23

O

5,168

721, 669 —do

(. 2

O I -LvctJ-Lt>(J.cl|t?.

40,125, 829 4318

J5

2
«*

$523, 722

k j L1.JLL.JLI,y OJ.vl.C»

Lafayette National
Bank of Brooklyn
in New York.
First National Bank

430

1,662,131

$50,000

OI rlllloDOrO.

oi

Clinton Trust Co.,
Clinton.
The Spencer National
Bank, Spencer.
The Livonia State
Bank, Livonia.
The Citizens National Bank of
Pennsboro.
The Fourth National
Bank of Atlanta.
Fairmont Trust Co.,
Fairmont.
Home Savings Bank,
J? dirmoii i.

Capital

Aggregate Charter
resources
No.

y i

The Bedford National
Bank of Brooklyn
in New York.
The Citizens Na-

& J. rust \JO>
Cleveland.

5045

Undivided
profits

10,000

xsanK, ixjiihDoro,

Liondi

7246

Surplus

Title and location

Lansdale.
The United Banking

2288

Continuing banks

National

—do—

joanK. oi v-'ieveianu.

Mass__.

300, 000

150, 000

206,365

4,257, 627

—do—..

100, 000

100, 000

45,132

1,215, 644

N.Y. .

40,000

40,000

19,070

877,193 13006

W. Va..

50,000

40, 000

1,527

1,231, 551 7191

1

[•7595

Ga

1, 400, 000 1, 800,000 1, 232, 340

1

46,002, 219 1559

W. Va__

200, 000

175, 000

11, 784

2,140, 824

-..do....

100, 000

40, 000

26,158

910, 016

1, 000, 000 1, 750, 000

273, 970

15,107,473

Pa




[9645

J

f Worcester County
\ National Bank of
[ Worcester.
The Stewart National Bank of Livonia.
The First National
Bank of Pennsboro.
The Atlanta and
Lowry National
Bank, Atlanta.
| ThePeoples National
I

77

JD ciLXteL {jL X1 d l l J l l O U l / .

The First National
Bank of Scranton.

Do.

|
™

4, 000, 000

3, 500, 000

670, 496

63, 401,028

...do

Do

n

Q
1

200,000

50, 229

2, 206, 796

__d0

Nov. 27

S

3,000, 000 2, 300, 013

50, 860, 524

-do

Novi 30

2

40,000

1
3, 000, 000

to
Or

TABLE N O . 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 81, 1930, as shown by their last reports prior to consolidation—Continued
Closing banks
Charter
No.

State

Title and location

Capital

Continuing banks

Surplus

Undivided

profits

Aggregate Charter
resources

No.

Title and location

Capital

Surplus

Undivided

profits

Aggregate
resources

Date of
Date of consolireports dation
1939

2605

The Commercial Na- Ohio...

$600,000 $1,100, 000 $107,353 $14, 375, 986 7621 The City-National

•Mr*-nol I J H I I K r\f C^r\
11OHH1 TIQTIIT" OI V^'O-

50,000

50,000

13,394

916,046

1416

jjciDK, IVLI. iv±orris.

Ill

200,000 4, 800, 000 6, 533,921

66, 989,643 12403

The Tri State Loan Ind._._ 1,000,000
and Trust Co., Fort
Wayne.
13391 Old Colony National Mass... 1,000,000
Bank of Boston.
100,000
2312 The First Rational —do....
Bank of Webster.

500,000

150,000

84,845

3,120, 598 7595

12736

350,000

146, 726

18, 507, 610 12186

...do.... 3,000,000 1, 500, 000

777, 696

36,182, 284 3623

North Texas National
Bank in Dallas.
2455 The City National
Bank of Dallas.
4469 The American National Bank of
Aurora.
1118 The Union National
Bank of Brunswick.
Farmers and Merchants Bank, Bara-

Tex

Ill

Me

1,000,000

69,302 • 12,215,808

(i)

11
200

200,000

200,000

16,225

2, 960,880

38

50,000

45,000

16,380

301,277

1315

$324, 365 $15,911,566

1929

Oct. 4 Nov. 30

of Qenesee
30,059
The Columbus.River
50,000
100,000
National Bank of
Mt. Morris.
The Foreman Na- 6,000,000 6,000,000 2, 885, 740
tional Bank, Chicago.
500,000 343, 817
First National Bank 1,000,000
of Fort Wayne.
The First National 27, 500, 000 22, 500,000 9,158, 338
Bank of Boston.
Worcester County 1, 773,150 1,500,000 473, 543
National Bank of
Worcester.
Republic National 3, 500,000 1,500,000 934,930
Bank a n d Trust
Co. of Dallas.
The American Ex- 5,000,000 1,000,000 3, 511, 756
change National
Bank of Dallas.
39,205
100,000
150,000
The First National
Bank of Aurora.
8,205
50,000
The Pejepscot Na50,000
tional Bank of

1, 566,479

...do

Do.

121,442,933

...do

Dec. 14

21,326,727

...do

Do.

425, 722,297
34,478,723

...do
—do

Dec. 27

46, 567, 345

...do

Dec. 28

68,674, 519

Do.

Dec. 31 Dec. 31

3, 896,099

...do

Do.

388,835

...do

Do.
Do.

~ I *•* i rtOTTTinlr
1

Wis.._.

50,000

25,000

23,172

Okla...
The Farmers National Bank of
Chickasha.
13374 The Stanwood Na- Wash..
tional Bank, Stanwood.

100,000

20,000

1,000

12230

$900,000

-OclDK OI ^vOmUlciCc

lumbus.
The Bingham State N . Y . . .
Haugan State Bank,
Chicago.

$600,000

DOO.




50,000

25,000

2,958

741,802

3609

XJ runs WICK.

The First National
Bank of Baraboo.
810,265 5547 The Citizens Naitonal Bank of
Chickasha.
805,722 11935 The First National
Bank of Stanwood.

100,000

50,000

10,000

1,768,077

...do

100,000

20,000

1,000

998,066

...do

Do.
1930

25,000

10,000

7,003

479,291

—do

Jan. 2

The National City
Savings Bank and
Trust Co. of Vicksburg.
The Security National Bank of Oklahoma City.
The First National
Bank of Princeton.

Miss...

The First National
Bank of Vicksburg.

300,000

250, 000

24, 760

The American-First
National Bank in
Oklahoma City.
1, 375,989 2413 The Citizens National Bank of
Princeton.
3, 424, 08412055 The Public National
Bank & Trust Co.
of Houston.
2, 334, 962 '612 The National City
Bank of Troy.

3, 500,000

700,000

560,162

100,000

100,000

24, 524

500,000

310, 000

77, 226

10,993,838 ...do

Do.

300,000

300,000

425,025

9, 878,162...do

Jan. 18

100,000
1UU, UUU

200,000
ZUU, UUU

37,243

4,474,538 3258

Okla... 1,000,000

250,000

577, 298

18, 278, 847 4862

Ill

105,000

105, 000

20, 614

The Guaranty National Bank of
Houston.2
The United National
Bank of Troy.

Tex.._.

300, 000

100,000

84, 519

N.Y___

240, 000

300, 000

202, 680

The Peoples State
Bank of Liberal.

Kans__..

do .

56, 607,232...do
...do....
2, 053, 649

Do.
Do.
Do.

1930
25, 000

25, 000

706, 011 Mar. 27

Jan. 21

1929
6, 530, 515 Dec. 31

Jan. 25

25,000

5,000

1,946

15, 000

4,802

764, 095 5108

50,000

100, 000

40,000

1, 601,164...do

300, 000

200, 000

254, 392

200,000

200, 000

101, 536

...do
2, 342, 287

Feb.

5

200, 000

120, 000

44,002

2, 637, 948 5235

300,000

300,000

226, 983

—do
8, 005, 470

Feb.

8

411,600

14,187,117 13193

51,762

4, 289, 687 3355

The First National
Bank of New Carlisle.
The National Exchange Bank of
Clayton.
The Central National Bank of
Portsmouth.
The Torrington National Bank, Torrington.
[ The Bank of America
I National Association, New York.
First National Bank
of Yakima.
Traders
National
Bank of Kansas
City.
The C o m m e r c i a l
National Bank of
Peoria.
The First National
Bank of Durant.

12, 405

The First National
Bank of Clayton.

N.Y...

50,000

The Security Bank,
Portsmouth.

Ohio...

The Torrington Trust j Conn..
Co., Torrington. I

Murray Hill Trust N . Y . . . 2,000,000! 1,500,000
Co., New York. \
250,000

50,000'

17,'

j

3, 287, 687

200, 000

50, 000

60, 513

4,546,559 9236

600, 0001

700,000

291,311

10, 401, 8421 3296

100, 000

20, 000

14, 833

516, 817 5129

New national bank did not report prior to consolidation.




5,541

161, 351 6594

30,000

1

5,000

1,312

Ohio...

Okla_._

50,000

600, 000

150, 000

j 111

The Peoples National
Bank of Liberal.

1, 075, 000

500, 000

Mo

535, 639 13406

Lafayette National
Bank of Brooklyn
in New York.

N. Y.._

Wash..

11,859

1, 589, 79412892

The Prospect National Bank and Trust
Co. of Brooklyn in
New York.
The New Carlisle
Bank, Carlisle.

The Yakima National
Bank, Yakima.
The Gate City National Bank of
Kansas City.
Merchants and Illinois National Bank
of Peoria.
The Commercial National Bank of Durant.

4,732,629

145, 764

137, 290

do . ..

35, 775, 300 35, 500, 000 3,153, 010 438,134,175 ...do

Do.
Do.

Feb. 15

300,000

200, 000

14, 294

5, 035, 735
_._do

Feb. 21

200,000

120,000

7, 865

...do
5, 715, 098

Do.

...do
14, 388, 250

Do.

1,125, 000
100,000
2

1,125, 000
10,000

186,191

683

Report used Oct. 4, 1929.

811, 717...do.....

Do.

TABLE N O . 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, 1930, as shown by their last reports prior to consolidation—Continued
Closing banks
Charter
No.

8203

Title and location

State

The Chickasha National Bank, Chickasha.
The Union Savings
Bank, Fort Gaines.

Okla...

The Bank of New
London.
The Farmers State
Bank of Victoria.
The Sterling National
Bank, Sterling.
1807 The First National
Bank of Harrodsburg.
American Trust Co.,
Boston.
4305
The American Na-

2709

tiUllai
tirmftl

£J<LLJ\.
'R^nlr

Ga
Wis
Kans—

Capital

Continuing banks

Surplus

Undivided
profits

Aggregate Charter
resources
No.

Date of
reports

Date of
consolidation

$100, 000

$100,000

$3, 726

1929
$2, 335,810 Dec. 31

1930
F e b . 24

27,150

5,350

1,893

105,924

6002 The First National

50,000

7,000

3,846

136, 453 . . . d o

F e b . 25

50,000

13,500

28, 605

897, 886 . . . d o . - . .

Mar. 8

30,000

6,000

9,560

tional Bank
Chickasha.

325, 084

5013

15,000

1,740

186,999

10749

100,000

136,067

2, 036, 549

1717

Ky

50,000

10,000

5,467

707,570

2531

1,500,000 2,000,000

895,204

30,917, 474

200

2,799

1, 710, 736

100, 000

80,000

of

Bank
of
Fort
Gaines.
The First National
Bank of New London.
The First National
Bank of Victoria.
The First National
Bank of Sterling.
The Mercer National
Bank of Harrodsburg.
The First National
JDCUIK OI -DOSton.

25,000

10,500

4,074

207, 304 ...do

200,000

100,000

62,031

1,965,640 ...do

100,000

70,000

15,690

1, 484, 796

Do.
Do.
Mar. 11

do

43,500,000 31, 500,000 5,132,215 640,302,917 . . . d o - . .

Mar. 15

1, 593, 456 __.do____

Mar. 18

425 The First National

100,000

50, 000

3G, 232

6853 The National Bank

1,000 000

200,000

200,000

12,107, 708

8776 The First National

25,000

15, 000

9,044

514,015

Bank of Ripon.

do

200,000

50,000

10,139

4,807, 248

of Commerce of
Milwaukee.

S. D a k -

TheFarmersNational M i n n _.
Bank of Blue Earth.
National Union Bank M i c h . .
and Trust Co. of
Jackson.
Bank of Greenville. _. Ala
The Logansport State
B ankofLogansp ort.

Aggregate
resources

9938 The Oklahoma Na-

tional Bank of Milwaukee.

7641

profits

$1,056, 537

25,000

Ripon.
13184 Second Wisconsin Na-

11289

Undivided

$15,020

\JL
of

Potter County Bank,
Gettysburg.

Surplus

$20,000

100,000

Wis..._

Capital

$100,000

111

Mass

Title and location

Ind.__.




30,000

20,000

889

673, 570

Bank of Gettysburg.
5393 The First National
Bank of Blue Earth,
1533 The Peoples National
Bank of Jackson.

50,000

25, 000

4,616

753, 456

500,000

300, 000

219,267

9, 877, 713

100, 000

100, 000

71, 958

1,113, 807

5572 The

150, 000

9,600

23,390

1, 355,787

5076

First National

xSelllK OI vxrcCIlVlllG.

The City National
Bank of Logansport.

25,000

10,000

8,486

200,000

200,000

155, 096

250, 000

50,000

58, 649

200, 000

24,000

7,615

-do

_ Mar. 22

IQon
iwoU

Mar. 27

Mar. 29

504, 583 ...do

Do.

do

Do.

8,101,642

2, 547, 632 ...do

Apr. 2

do

Apr. 19

1,746,862

bO
^

Bay View Bank, Milwaukee.
522 The Eighth National
Bank of Philadelphia.
The First State Bank
of Onida.
o 11888 The Woodbridge National Bank, Woodbridge.
The Equitable Trust
Co. of New York.
Interstate Trust Co.,
New York.
Citizens Trust Co.,
Jasonville.
1329 The Old Lowell National Bank,Lowell.
13447 The Union National
Bank of Butler.
Butler County Trust
Co., Butler.
The Harbine Bank
of Fairbury.
9832 The Southern National Bank of Richmond.
Livingston County
Trust Co., Geneseo.
Corvallis State Bank,
(•orvallis.
The Kennett Trust
Co., K e n n e t t
Square.
7020 American-Traders National Bank of Birmingham.
Home Savings Bank
of Whittier.
540 The Penn National
Bank, Philadelphia.

Wis—-

100,000

100,000

45,818

Pa

275, 000 1, 500, 000

343, 429

S. Dak.

25, 000

2,800

1,123

N.J—

50,000

50,000

13, 711

N. Y... 50, 000, 000 66, 994,016
7,188, 700 3, 324, 551
25,000

Mass...
Pn

5,750

868

200, 000

200,000

110,933

200, 000

(l)

250, 000

Nebr...

250,000

60,683

N. Y ._
Oreg...
Pa
Ala
Calif-

100, 000

35,000

96,355

100,000

50,000

36, 313

100,000

100,000

40,828

50,000

30,000

26,415

125,000

200, 000

29,542

2, 750, 000 1, 500, 000

624, 010

150, 000

50, 000

100,000
25,000
The Peoples Trust Ill
and Savings Bank,
Elmhurst.
1 New national bank did not report prior to consolidation*




66, 702

1,000,000 3,000,000 1,043, 322

The Mechanics National Bank of Milwaukee.
1 The First National
9, 513, 840
Bank of Philadelphia.
314,001 12777 The Onida National
Bank, Onida.
8299 The First National
1,066,450
Bank of Woodbridge.
748,954, 225
The Chase National
J-237CK
Bank of the City
69, 725,129
of New York.
133, 476 7342 The First National
Bank of Jasonville.
6077 The Union National
6,186,172
Bank of Lowell.
The Butler County
National Bank of
•4374J
700,683
Butler.
2, 076, 555 2994 The First National
Bank of Fairbury.
1790 TheMadisonNation1, 459,944
al Bank & Trust
Co. of Richmond.
The Genesee Valley
2,528,414
National B a n k ,
Geneseo.
4301 First National Bank
762, 336
of Corvallis.
1,437, 224
2526 The National Bank
of Kennett Square.
27, 933, 440 3185 The First National
Bank of Birmingham.
2, 328, 742 7999 The Whittier National Bank, Whittier.
22,858,939
723 The Central National Bank of Philadelphia.
The First National
745, 539
Bank of Elmhurst.
2, 284, 071 12816

200, 000
2, 500,000

50, 000

14, 222

5, 500, 000 1, 823, 802

Apr. 26

1, 318, 679
71, 606, 466 ._.do

Apr. 30

25, 000

5,000

1,748

220, 111

100, 000

100, 000

36, 970

1,806,144

..do—. May 12
..do—. May 24

ll05,000,000 105, 000, 000 33,568, 697 1,471,553,987

— d o — May 31

50, 000

I

45,000

7,122

775,174

350, 000

700, 000

437, 046

7,961,868

400,000

1, 050, 000

287,658

_do

10,928,950 . . d o - . , . .

Do.
Do.
June 3
June 6

100, 000

50, 000

49, 680

125,000

65,000

11, 513

150, 000

130,000

48, 786

2,044, 012

June 14
June 21
June 30 June 30

...do —
806,158 . . d o .

100,000

40,000

15, 533

1,786, 865

125, 000

125, 000

126, 021

1,912,440

3, 000, 000 1, 638, 219

44, 751,921

1, 500, 000
150, 000
2, 040,000
100,000

50, 000

67, 583

2, 440, 355 —do

6, 940, 000 1, 056, 715

49,433,788

4,357

967,927

31,000

.do

.do..

June 11

Do.
Do,
July 12

— d o . . . . July 14

%
O

8
CO

resources of banks consolidated under act of November 7, 1918, as
amended February 25, 1927, for the year ended October 81, "1980, shown by their last reports prior to consolidation—Continued
as

TABLE N O . 6.—Capital stocky surplus, undivided profits, and
Closing banks
Charter
No.

Title and location

State

Capital

Continuing banks
Surplus

Undivided

profits

The Central National Pa
Bank of Wilkinsburg.8
The Clintonville State Wis—.
Bank, Clintonville.

$100,000

$125,000

70,000

20,000

Peoples TrustandSav- Mo
ingsCo.,Chillicothe.
Fust Trust & Savings Iowa...

5265

100,000

20,000

495

100,000

100,000

30, 480

Aggerate Charter
resources No.

Title and location

Capital

Surplus

Undivided

Date of Date of
reports consolidation

profits

Aggerate
resources

$9,618,889 June 30

1930

1930
July 16

1577

Beacon Trust Co., Mass__. 3, 000, 000 3,000,000
1003

1, 847,333

The First National
Bank of Wilkins.
burg.
The First National
Bank of Clintonville.
The First National
"Ranlr r»f r^Viilliorktho
The First National

573, 745 40, 691, 541

643

The Atlantic Nation-

8,000,000

6, 500,000 2, 289,179 136, 652,465 . . . d o . . . . July 31

The National Exchange Bank of
Milwaukee.
Red Lion Trust Co.,
Red Lion

The Marine National Bank of Milwaukee.
The Red Lion First
National T a n lr
^
Red Lion.
TheMaconNational
Bank, Macon.

1,000,000

1,000,000

275,900

125,000

210,000

41,424

2,919, 030 . . . d o . . . . Aug. 5

200,000

200,000

44,344

4,194, 325 . . . d o . . . . Aug. 30

[The Old Citizens National Bank of I

200,000

225.000

300, 000

The Second National
Bank of Uniontown.
The Virginia Nation-

200,000

600,000

80,130

600,000

200, 000

216,879

1,600, 000

900,000

266, 373

$45, 379 $2,470, 389

4728

552, 372

6273

12, 679

596, 085 3686

1,000,000

Pa

Continental T r u s t Ga
Co., Macon.
The Zanesville Bank Ohio...
& Trust Co., Zanesville
The Peoples Savings . . . d o . . .
Bank Co., Zanes-

600,000

398,636

12, 512,623 5458

125,000

125,000

6,776

1,134, 522 5184
4,817,154 10270

350,000

150,000

94,339

150, 000

550, 000

203, 252

100,000

95,000

6,423, 289
1, 918, 716

32,000
4,952
100,000
292,658
The Guprdian Trust
and Safe Deposit
Co., Zanesville.
13485 The Third National Pa
200,000
0)
Bank of Uniontown.
Virginia Bank &Trust Va...,.
10,000
17,974
100,000
612, 410
Co. (Inc.), Norfolk.
Merchants Bank and D. C_._ 1, 000,000 250, 000
35,634 9, 584, 595
Trust Co., Washington.
44 State banks.
71, 765, 850 86, 462, 472 10, 634,877 1,085,124,224
45 national banks.
19, 720, 000 17,100, 000 7, 254, 221 302,336,130

> 5760 <

5034
9885
10316

}~Zj 83 national banks

* New national bank did not report prior to consolidation.




Federal-A m e r i c a n
National Bank of
Washington.

$250,000

$300,000

$184,163

60,000

20,000

23,753

100,000

50,000

968

100,000

70,000

25,891

1,693,814 . . . d o . . . . July 26
1,068,559 ...do
1, 562,241 ...do.._.
13, 003, 006 . . . d o . . . .

July 29
Do.

Do.

5, 696, 069 ...do

Sept. 20

8, 261,935 Sept. 24

Oct. 1

6, 528, 292

Oct. 16

15, 050, 023 . . . d o . . . . Oct. 31

_.. 273, 284,100 151, 856, 000 75,716,847 4,098,209,563
* Report used Mar. 27,1930.

REPORT OF THE COMPTROLLER OF THE CURRENCY

265

TABLE N O . 7.—National banks consolidated under act of November 7, 1918, their
capitaly surplus, undivided profits, and aggregate resources, year ended October 3.1,
1980
Consoli- Charter Title and location of bank
dation No.
No.

State

Date of
consolidation

Capital

Surplus

Undivided
profits

Aggregate
assets

330

8481 The First National Bank

1929
Wash.. Nov. 2

$50,000

$20,000

$10,000

331

of Sunnyside.
3400 First National Bank of

N.Dak. __.Do_—

50,000

10,000

5,496

830,643

N. Y— Nov. 9

1,075,000

600,000

140,093

7,175,973

400,000

900,000

174,154

5,842, 529

1, 773,150 1, 500,000

527,639

40,483,546

OI -Q-HloUOIO*
nf TTillQhnrn
332 12892 Lafayette National Bank

of Brooklyn in New
York.

333

430 The First National Bank

335

7595 Worcester County Na-

Mass.. Nov. 22

337

7191 First'-Citizens

W. Va. Nov. 23

338

1559

of Lansdale.

tional Bank of WorcesNational
TJoTilr nf T*An"nciV^nvn
X>cti-liv. Ul X cUtiloUUl U«

The First National Bank

340

77 The First National Bank

341

7621 The City National Bank

f\f

345

& Trust Co. of Colum200 The First National Bank

349

Pa

...do
Nov. 30

Ohio— —do
Mass___ Dec. 14

JJOOGOII.

7595 Worcester County Na- . . . d o . - . Dec. 27

tional Bank of Worcester.
347 12186 Republic National Bank
348

Ga

Nov. 16

Tex

Dec. 28

Ar TV n e t UO, OI T")A11£)«
OC JLlUai f^n n f Ualiao.

First National Bank in ...do.__. Dec. 31
Dallas
38 The First National Bank 111
—do

3623

nf

350

1315

352

5547

100,000

50,000

18,163

1, 912,407

5,400,000 5, 300, 000 1, 335,270

105, 354,197

5,000,000 2, 500,000 2,861,336

64,818,401

1,200,000 1,800,000

300,000

30,102,039

43, 500,000 31, 500, 000 25, 546,673

638,264,392

Q /1T*QT1 T"/"\T"l

OI OCrdllLOIl.

OI

346

Pa

$1,034,615

1,888,150 1, 500, 000

456,954

4,000,000 1, 500, 000

973, 595

62, 363, 368

8,000, 000 2,000,000 4, 789,452

103,351,156

38,185,107

300,000

200,000

32,220

...do

100,000

100,000

19,583

690,112

Okla— ...do

200,000

40,000

2,000

1,808,331

6,724,302

A tirAVCi

OI xx HI Old.

Brunswick National
The Citizens-Farmers

Me.

ATnf'irt vinl

IN anonai TRQTIIT" oi
xidiin. /"if
Chickasha.
1930
353 11935 The First National Bank Wash.. Jan. 2
nf m*£mwnnr!
OI OudilWOOvl.
354 3258 The First National Bank Miss— —Do—
& Trust Co of Vioksburg.
355 4862 The First National Bank Okla— . . . d o

75,000

25,000

1,000

1,288,299

500,000

500,000

77,004

9,060,844

5,000,000 1,000,000

787,459

74,886,080

nxirl TVn^t V->O. OI OVlaaULU. l i U o l On nf v/Jild"
356

homa City.

2413 Citizens First National

Bank of Princeton.
Public National

357 12055 The

111

...do

150,000

150,000

38,084

3,317,309

Tex

—do

800,000

310,000

79,517

10,874,018

Jan. 18

600,000

600,000

574,945

11,981,185

Jan. 25

1,450,000

875,000

157,538

8,637,450

100,000

100,000

59,570

2,343,024

500,000

100,000

21,041

8,472,902

400,000

100,000

35,579

9,187,577

2,000,000 2,000,000

377,282

25,781,444

"Dnnlr QTIH nPi*nci* V^O. nf
X>dIlK. HUCl l I U o l P n OI

358

360 12892
362

Houston.
N. Y . . .
of Troy.
—do
Lafayette National Bank
of Brooklyn in New
York
The First National Ex- —do
change Bank of Clayton.
Yakima First National Wash..
B&nk "Y&kiimi
Traders Gate City Na- Mo

7612 The National City Bank

5108

366

3355

367

9236

+•i i» f\Q
"

1

T J QTll?^
L

nf

...do
Feb. 21
...do

\£ Q Yl C Q C

LiOXJ-dl X/dXIK. OI xVdllodS

368

329f

City.
Commercial Merchants
^ T Q t"IATlO 1
«L^ dvX.\jUd

"W d Tl 17"
,jicLxXi\.

111

—do

Q Tl f\
ck 11 vl

389

Trust Co. of Peoria.
5129 The First National Bank

100,000

10,000

370

9938 Oklahoma National Bank . . . d o . . . . Feb. 24

200,000

50,000

50,000

3, 337,701

1717 First Sterling National

Mar. 8

200,000

100,000

92,000

3,803,280

Ky____. Mar. 11

150,000

30,000

6,536

2,037,572

374

x>aiiK, oternng.
National
 Bank of Harrodsburg.
i Also inclndes
http://fraser.stlouisfed.org/State bank.
375

2531 First-Mercer

Federal Reserve Bank of St. Louis

Okla— ..do
Ill

1,163,663

266

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 resources, year ended October 31,
1930—Continued
Consoli- Charter Title and location of bank
dation No.
No.

425 The First National Bank

State

Date of
consolidation

1930
W i s — . Mar. 18

Capital

Surplus

Undivided
profits

Aggregate
resources

$300,000

$100,000

$24,078

$3,412,470

Mar. 22

1,000,000

200,000

210,247

16,471,771

Kee.
5393 First and Farmers Na-

M i n n , . Mar. 29

75,000

35,000

15,651

1,257,860

381

1533

Mich... —do

700,000

500,000

376,631

17,586,796

385

1

3,111,000 7,000,000 1,871,939

85,615,136

387

8299

390

6077

391

4374

393

1790

397

3185

399

723

401

4728

406

5458

410

5034

377
378

of Ripon.
6853 The National Bank of
Commerce of Milwau-

380

1

tional Bank of Blue
Earth.
Union & Peoples National Bank of Jackson.
The First National Bank
of Philadelphia.
The First National Bank
and Trust Co. of Woodbridge.
Union Old Lowell Nat i n n p i "Rcmlr TJHTA/AII .
biui-icii J3d.jj.iVj i j u w y n

do

Pa

N. J____ May 24

150,000

150,000

16,921

Mass... May 31
Pa

The Butler County National Bank and Trust
Co. of Butler.1
Madison-Southern Na- J£y
tional Bank & Trust
Co. of Richmond.
The First National Bank Ala
f\£ "ID l-y.-rv-i 1 T l frVl QTT1
"
oi -Dirmmgnam.
Central-Penn National Pa
Bank of Philadelphia.
The First National Bank -__do--_.
oi wiiKinsDurg.
Marine National Ex- Wis..__
change Bank of Milwaukee.
The Second National Pa
Bank of Uniontown.
Total (45 banks) . . .

Also includes a State bank.




Apr. 30

2,818,994

1,000,000

500,000

457,900

14,439,71

June 3

600,000

900,000

209,131

11,545.094

June 11

225,000

75,000

107, 674

2,094,570

June 30

5,000,000 5,000,000 1, 012,230

72,685,361

July 12

3,040,000 9, 940, 000 1,247,272

70,893,678

July 16

400,000

350,000

157, 473

9,689,053

July 31

2,200,000

800,000

400,000

24,451,896

Oct. 1

400,000

600,000

77,289

8,396,257

103,462, 300 81,620,000 44,634, 619 1,626,472,130

TABLE NO. 8.—State banks and national banks consolidated under act of February 25, 1927, their consolidated capital, surplus, undivided
profits, and aggregate resources, year ended October 31, 1930
Consolidation
No.

Title and location of State bank

Charter
No. of
national
bank

The United Banking and Trust Co. of
Cleveland.
Clinton Trust Co., Clinton*

4318

The Livonia State Bank, Livonia
("Fairmont Trust Co., Fairmont
\Home Savings Bank, Fairmont
The Bingham State Bank, Mt.
Morris.
Haugan State Bank, Chicago
The Tri State Loan and Trust Co.,
Fort Wayne.
Farmers and Merchants Bank, Baraboo.

13006
9645
1416

7595

12403
11

Title and location of national bank

The New Carlisle Bank, New Carlisle.




Date of
consolidation

1929
Central National Bank of Cleveland.. Ohio.. Nov. 16
Worcester County National Bank of
Worcester.
The Stewart National Bank of Livonia.
TThe Peoples National Bank of Fair-1
I mont.
J
The Genesee River National Bank of
Mt. Morris.
The Foreman National Bank, Chicago_
First National Bank of Fort Wayne...

Capital

Surplus

Undivided
profits

Aggregate

$114,926,601

resources

Increase in
authorized
capital

$5,000,000

$3, 500,000

$1, 417, 855

Mass.. Nov. 22

1,773,150

1, 500,000

527, 639

N. Y._ Nov. 23
W.Va. Nov. 27
N. Y_. Nov. 30

115,000

35,000

32, 043

1,714,959

40,000

420,000

80, 000

333, 338

4,993,802

220,000

100,000

150,000

58, 048

2, 513,243

50, 000

Ill
Dec. 14
Ind__. ...do

11,000,000
2,000,000

11,000,000
1,000,000

2, 534, 927
100, 000

193,195,860
32, 293, 731

5,000,000
1,000,000

31

150,000

75,000

2, 460,998

50,000

1930
Kans- Jan. 21
Ohio_- Jan. 25

50,000
25,000

3609 The First National Bank of Baraboo.. Wis— Dec.

13406 The Peoples National Bank of Liberal
6594 The First National Bank of New
Carlisle.
7781 The Central National Bank of PortsThe Security Bank, Portsmouth
mouth.
5235 The Torrington National Bank, TorThe Torrington Trust Co, Torrington.
rington.
13193 The Bank of America National AssoMurray Hill Trust Co., New York_.._
ciation, New York.
6002 The First National Bank of Fort
The Union Savings Bank, Fort Gaines_
Gaines.
5013 The First National Bank of New
The Bank of New London
London.
The Farmers State Bank of Victoria._
10749 The First National Bank of Victoria..
American Trust Co., Boston2
200 The First National Bank of Boston...
The First National Bank of GettysPotter County Bank, Gettysburg
8776
burg.
5572 The First National Bank of Greenville.
Bank of Greenville
The City National Bank of Logans5076
The Logansport State Bank of Logansport.
port.
12816 The Mechanics National Bank of MilBay View Bank, Milwaukee.
waukee. '
i This consolidation also includes a national bank.

The Peoples State Bank of Liberal

State

5,000

15,000
3,182

15,000

...do— Feb.

5

500,000

Conn. Feb.

8

400,000

N. Y._ Feb.

15 36, 775, 300

Ga_— Feb.

25

50,000

Mar. 8

75,000

Kans__ ...do
25, 000
Mass._ Mar. 15 44,500,000
S.Dak. Mar. 29
75, 000

500,000
400,000
37,000,000
12,000
25,000

Ala... Apr. 2
Apr. 19

425,000
200,000

10, 000
35, 500, 000
15,000
100,000
50,000

Apr. 26

200,000

50,000

2 With 1 branch in Boston.

100,000

40, 483,

546

$2, 500,000
137, 500

700,108
252, 728
5, 652,823
10, 648,

300,000

666

100,000

6, 029,314

383,163, 693

1,000,000

6,561

223,096

50,293

1,419, 578

25,000

1,000
3,636, 529
12, 839

331,196
635,494,875
1,135,189

1,000,000
50,000

78, 779
10, 000

2, 992,128
2,826, 008

17, 284

3, 634,880

433,157

175,000

TABLE N O . 8.—State banks and national banks consolidated under act of February 25, 1927, their consolidated capital, surplus, undivided
profits, and aggregate resources, year ended October 81, 1980—Continued
Title and location of State bank

The First State Bank of Onida
/ T h e Equitable Trust Co. of New York
\Interstate Trust Co., New York
Citizens Trust Co., Jasonville
Butler County Trust Co., Butler i
The Harbine Bank of Fairbury
-.
Livingston County Trust Co., GeneCorvallis State Bank, Corvallis
The Kennett Trust Co., Kennett
Square.
Home Savings Bank of Whittier
The Peoples Trust and Savings Bank,
Elmhurst.
The Clintonville State Bank, Clintonville.
Peoples Trust and Savings Co., Chillicothe.
jnrst Trust & Savings Bank of Muscatine.
Beacon Trust Co., Boston 2
Red Lion Trust Co., Red Lion
Continental Trust Co., Macon
The Zanesville Bank & Trust Co.,
Zanesville.
The Peoples Savings Bank Co., Zanesville.
The Guardian Trust and Safe Deposit
. Co., Zanesville.
Virginia Bank & Trust Company,
(Inc.), Norfolk.3
Merchants Bank and Trust Co.,
Washington.*

Charter
No. of
national
bank

State

12777 The Onida National Bank, Onida
f The Chase National Bank of the Cityl
2370 t of New York.
/
7342 The First National Bank of Jasonville.
4374 The Butler County National Bank of
Butler.
2994 The First National Bank of Fairbury.
The Genesee Valley National Bank,
Geneseq.
4301 First National Bank of Corvallis
2526 The National Bank of Kennett Square.

S.Dak.
N. Y__
Ind._.
Pa

Date of
consolidation

Capital

Undivided
profits

Surplus

Aggregate
resources

Increase in
authorized
capital

1930
$494,223
$2,890
$5,000
$25,000
May 12
May 31 148,000,000 148,000,000 74, 291, 699 2, 280,063,895 $43,000,000
818,402
5,000
15,000
50,000
.._do—11,545,094
209,131
900,000
June 3
600,000

Nebr_. June 6
N. Y__ June 14

200,000
200,000

50,000
200,000

25,274
167,273

3,926,984
4,802,152

100,000
50,000

Oreg.. June 21
Pa._- June 30

150,000
250,000

50,000
325,000

55,633
176,021

2,470,648
3,316,794

50,000
125,000

The Whittier National Bank, Whit- Calif.. .-.do.—.
tier.
The First National Bank of Elmhurst- 111
July 14

300,000

100,000

121,773

4,477,119

150,000

150,000

30,000

10,000

1,590,378

50,000

The First National Bank of Clinton- Wis... July 26
ville.
The First National Bank of Chilli- Mo... July 29
cothe.
1577 The First National Bank of Muscatine. Iowa.. ...do.....

100,000

100,000

2,310,904

40,000

7999

6273

100,000

25,000

72

1, 476,146

200,000

100,000

12,996

3,172,863

100,000

9,875,000
225,000

8,500,000
400,000

2,598,316
53,661

174,865,942
4,114,733

1,875,000
100,000

9, 526,086

300,000

Aug. 30

500,000

200,000

291,223

/ T h e Old Citizens National Bank ofl
5760 \ Zanesville.
J Ohio.. Sept. 20

8, 625,362

200,000

400,000

400,000

207,615

643 The Atlantic National Bank of Boston. Mass.. July 31
Aug. 5
5184 The Red Lion First National Bank,
Red Lion.
10270 The Macon National Bank, Macon ___

10316

i This consolidation also includes a national bank.




Title and location of national bank

350,721
7,161,699
600,000
200,000
Oct. 16
The Virginia National Bank of NorfolkFederal-American National Bank of
23, 674,181
500,000
2,000,000 1,000,000
D. C . Oct. 31
Washington.
267,783,450 251, 622,000 94, 515,978 3,389,491, 313
Total (44 State banks with 40
national banks)
2

With 1 branch in Boston,

3 With 1 branch at Virginia Beach, Va.

4

400,000

58,187,500

With 2 branches in Washington.

kg
00

269

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 9.—Number and capital of State banks converted into national banking
associations in each State and Territory from 1863 to October 81, 1930
Number of
banks

State or Territory

Capital

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
391 117, 571, 510 Missouri

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut

34
28
22
190
52
65

125, 331, 291
9, 820, 450
33,534, 095
585, 010
10, 249, 372
1,080, 000

Middle Western States..

North Dakota
South Dakota
Nebraska
Kansas
Montana
460 180,600,218 Wyoming
Colorado
67
5,937,100 New Mexico
33
2,208, 900 Oklahoma
38
3,661, 000
48
4, 512, 000
Western States
31
6,637, 000
21
2,165, 000 Washington
34
4,560, 000 Oregon
19
1, 560, 000 California
12
3, 575, 000 Idaho
140 10,042,500 Nevada
41
2, 507, 500 Arizona
43
6,006, 900
51
8,090, 000
Pacific States

___

Eastern States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
FloridaAlabama
Mississippi
Louisiana.
Texas
Arkansas
Kentucky
Tennessee
Southern States

578

61,462,900

Capital

24
27
41
26
36
113
43
49

$4,605, 000
2, 595, 000
2,029,990
72, 691, 200
16, 717, 550
18,932, 770

241
50
121
6
36

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

Number of
banks

State or Territory

_.

$2,890,000
1, 908,000
5,630, 000
3,020,000
3,620,000
7,471,000
2,185, 000
17,601,800

359

44,325,800

84
50
100
83
37
9
35
7
191

2,760,000
1, 725, 000
5,010,000
4,182,000
1,485,000
320,000
2, 755,000
400,000
7,870,000
26,507,000

70
30
113
26
1
5

6,625,000
1,951,000
45,272,800
1,080,000
50,000
300,000

245

55,278,800

2,629

United States

485,746,228

TABLE N O . 10.—Conversions o) State banks and 'primary organizations as national

bunks from March 14, 1900, to October 31, 1980
Conversions of
State banks
Classification
Number

_
_

Total




00 00

Capital less than $50,000
Capital $50,000 or over

Capital

Reorganizations
from State and
Primary organiprivate banks and
zations
national banks
Number

Capital

Number

Capital

Total

Number*

Capital

$23,858,300 1,153 $30,542,000 2,653 $68,425,500 4,701 $122,825,800
182,667,800 737 116,245,000 1,981 294,745,000 3,533 593,657,800

1,710 206,526,100 1,890 146,787,000 4,634 363,170, 500 8,234 716,483,600

270

KEPOKT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 11.—Number of national banks increasing their capital, together with
the amount of increase monthly for years ended October 31, since 1925
1927

1926

Months

Number

Nov
DecJan
Feb_
Mar
Apr.
May
June
July
Aug
Sept
Oct.

9
24
31
28
17
25
11
15
28
8
7
7

Total..

Number

Capital

$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

1210 149, 440, 000

6
20
35
22
22
23
15
21
35
17
11
11

1928

Number

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

2 238 286,184, 210

9
23
41
26
28
31
12
26
25
12
16
19

1929

Number

Capital

$18,655, 000
16,780,000
6, 760, 000
4, 715, 000
15,170, 000
23, 297, 500
1, 250, 000
19,335, 000
14,345, 000
1,910, 000
5,635, 000
3,700, 000

3 268 3131,552,500

6
21
34
42
33
34
24
37
28
27
14
35

1930

Capital

Number

Capital

$958, 333
8,248,000
11, 288, 000
32,875, 000
22, 662, 500
5, 401, 000
15, 922, 592
19, 707, 500
36, 632, 500
14, 877, 200
2, 602, 500
10, 555, 000

22
25
35
28
17
15
16
20
19
9
6
13

$5,932,600
23,615,000
4,763,400
4,850,000
1,870,000
1,671,000
46,122,464
3,305,000
3,562,500
1,585,000
625,000
1, 512, 500

*335 4181,730,125

»225

« 99,414, 364

1 Of these cases, 67 were effected wholly or in part by stock dividends aggregating $8,846,400.
2 Of these cases, 73 were effected wholly or in part by stock dividends aggregating $6,776,350.
3 Of these cases, 77 were effected wholly or in part by stock dividends aggregating $16,809,000.
4
Of these cases, 80 were effected wholly or in part by stock dividends aggregating $20,793,750.
» Of these cases, 68 were effected wholly or in part by stock dividends aggregating $6,085,130.
TABLE N O . 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

Consolidated
under act
Nov. 7, 1918

Year
No.

1914,.-.

1915—
1916--..

1917—.
1918—.
1919—.
1920—
12 —
91
1922—
1923—
1924—
1925—
1926—
1927—
1928—
1929—.
1930—

Capital

No.

Loss to
capital

195 $18, 675, 000

144
122
176
164
245
361
169
232
190
135
251
160
135
113
141
108

9,689, 500
6, 630, 000
11, 590, 000
13,400, 000
21, 780, 000
31, 077, 500
20, 005, 000
24, 890,800
30, 522, 500
21, 375, 000
26, 040,000
29, 705, 000
43, 570, 000
26,160, 000
38,195,000
12, 240, 000

$3,220,000
i 1,650,000
i 850, 000
1 3, 275, 000
1 2, 575, 000
i 1, 255,000
1 1, 660,000
i 4, 455, 010
i 3, 407,000
i 6, 857, 500
i 4, 780,075
i 1,355, 000

In voluntary
liquidation
No.
113
82
"
135
107
68
83
84
93
103
121
155
123
153
165
156
221

Capital

Insolvent

No.

Capital

21 $1 810,000
L,
$26,487,000
14 1,830,000
13,795,000
13
805,000
14,828, 000
7 1, 230, 000
14,367, 500
2
250,000
16,165, 000
1
25,000
16, 380, 000
5
14, 730, 000
205,000
37,075, 000
34 1,870, 000
18,910, 000
31 2,015, 000
53 3, 405, 000
39, 290,000
40, 745, 000 138 9, 635, 000
98 6,420,000
14,467, 500
91 5, 412, 500
28,668, 300
37, 495, 000 135 8, 257, 000
61 4,135, 000
27, 381, 000
79 6, 575,000
98,267, 500
39, 230, 400 2 104 8, 355. 000

Net yearly
Net yearly
increase
decrease
(exclusive of (exclusive of
existing banks existing banks
increasing
decreasing
their capital) their capital)
No.

Capital No.

62
94
135 $2,155,000
257 14, 492, 500
18
77

Capital

$9,622,000
5,935, 500
26 9,003,000
4,007, 500
3,015,000
19,790,000
3 14, 747, 500
174 30, 260,000

15 3,492, 500

114
176
125
201
288

8,820,810
4,439,000
11, 743,500
70,707,576
35,260,400

1 Amount of capital stock reductions incident to consolidations.
2 Includes 3 banks with an aggregate capital of $475,000 restored to solvency. There was also 1 bank
restored with capital of $150,000 for which a receiver had been appointed prior to Nov. 1, 1929. Also includes 4 banks with an aggregate capital of $265,000 which had been placed in voluntary liquidation by their
shareholders during the current year, and 8 banks with an aggregate capital of $550,000 which had been
placed in voluntary liquidation by their shareholders prior to Nov. 1, 1929.
3 There was a decrease of 288 banks, considering the 4 banks restored to solvency and the 12 banks which
were in voluntary liquidation.




REPORT OF THE COMPTROLLER OF THE CURRENCY

271

TABLE NO. 13.—Total number of national banks organized, consolidated under act
of November 7, 1918', insolvent, in voluntary liquidation, and in existence on
October 81, 1930.

Organized

States, Territories, etc.

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

4
8
16
2
6

26
44
13
33

113
74
77
359
65
119

I n liquidation

In existence

4
_ _

_
_
_.
_ _

._ _ _

Total Pacific States
Alaska
The Territory of Hawaii
Porto Rico

.

Total Alaska and insular possessions
Total United States, Alaska, and insular possessions
_.

1
4

555
295
836
16
75
12

95

131

671

1,789

236
165
130
113
172
124
166
71
86
1,066
125
233
196

12
5
4
5
6
1
1
2
2
15
1
9
5

10
12
18
27
25
32
22
4
8
83
17
7
11

58
36
44
46
66
36
44
30
44
378
41
86
80

156
112
64
35
75
55
99
35
32
590
66
131
100

68

276

989

1,550

639
403
724
269
243
465
508
277

20
7
9
4
8
6
4
9

42
31
49
19
15
68
107
20

264
158
199
120
67
126
160
124

313
207
467
126
153
265
237
124

67

351

1,218

1,892

3
1
1
4
2

11

76
62
53
52
65
12
30
24
62

65
55
157
138
63
20
55
29
370

110
96
170
244
61
25
117
27
276

25

436

952

1,126

213
139
499
108
38
16
30

16
1
12

33
14
28
27
4
2
3

60
31
257
40
15
4
13

104
93
202
41
17
10
14

1,043

.

375

303
63
232
13
50
10

2,539

_

370

53
11
60
1
2
4

254
214
381
438
191
57
205
80
719

_ _

36

3,528

_ ...

52
56
45
151
10
61

2,883

_ .__

59
13
23
176
51
48

2,686

__ _
_

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




2
1
1
16
2
4

955
382
1,161
30
128
30

___
_

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

Insolvent

807

_

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

Consolidated
under
act Nov.
7,1918

31

111

420

481
4
1

3

2

5
6
1

1

1
4
1

12

1

6

5

13,498

313

4,626

7,218

1,341

272

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 14.—Changes of corporate title of national banks, year ended October
31, 1930
Char
ter
No.

Title and location

The First National Bank of Bridgeport, Conn., to ''The First National Bank and Trust
Company of Bridgeport"
First National Bank in Pawhuska, Okla., to "The Live Stock National Bank of Pawhuska"
2580 The James Kiver National Bank of Jamestown, N. Dak., to "The James River National
Bank and Trust Company of Jamestown "
2503 The La Salle National Bank, La Salle, 111., to " La Salle National Bank and Trust Company"
12613 Brotherhood National Bank of Portland, Oreg., to "Columbia National Bank of Portland"
..
13359 The Leeds-American National Bank of Leeds, Ala., to "The Leeds-American National
Bank"
2137 The National Bank of Boyertown, Pa., to "The National Bank and Trust Company
of Boyertown"
4 The First-Stamford National Bank, Stamford, Conn., to "The First-Stamford National
Bank and Trust Company"
13175 The Northeast National Bank of Holmesburg in Philadelphia, Pa., to "The Northeast
National Bank and Trust Company in Philadelphia"
.
680 The Lebanon National Bank, Lebanon, Pa., to "Lebanon National Bank"____
12881 Citizens National Bank in Sioux Falls, S. Dak., to "Citizens National Bank and Trust
Company of Sioux Falls"
2935 The First National Bank of Watertown, S. Dak., to "The First National Bank and
Trust Company of Watertown"
1918 The Second National Bank of Saginaw, Mich., to "Second National Bank and Trust
Company of Saginaw "
6648 The First National Bank of Dallastown, Pa., to "The First National Bank and Trust
Company of Dallastown "
138 The First National Bank of Bethlehem, Pa., to "The First National Bank and Trust
Company of Bethlehem "
3349 The Citizens National Bank of Watertown, S. Dak., to "The Citizens National Bank
& Trust Company of Watertown"
1464 The Williamsport National Bank, Williamsport, Pa., to " Williamsport National Bank "
10634 The City National Bank of Whitesboro, Tex., to "The Whitesboro National Bank"..
13393 The Lincoln National Bank and Trust Company of Syracuse, N. Y., to "Lincoln National Bank and Trust Company of Syracuse"
10367 The National Bank of North Kansas City, Mo., to "The National Bank & Trust Company of North Kansas City"
6429 First National Bank in Minot, N. Dak., to " First National Bank & Trust Company
in Minot",
552 The National Bank of Chester County, West Chester, Pa., to "National Bank of Chester County and Trust Company, West Chester"
4965 The Union National Bank of Huntingdon, Pa., to "Union National Bank and Trust
Company of Huntingdon"
5206 The American-First National Bank of Stiflwater, Okla., to "The First National Bank
of Stillwater "
5472 The Montesano National Bank, Montesano, Wash., to " First National Bank in Montesano"
8939 The First National Bank of Fleetwood, Pa., to "The First National Bank and Trust
Company of Fleet wood "
10608 The Planters National Bank of Rocky Mount, N. C , to " The Planters National Bank
& Trust Company of Rocky Mount"
7649 First National Bank in Logan, Ohio, to " First-Rempel National Bank of Logan"..
13026 The Hatfield National Bank, Hatfield, Pa., to "The Hatfield National Bank and Trust
Company"
13307 The City National Bank and Trust Company of Niles, Michigan, Niles, Mich., to
"The City National Bank and Trust Company of Niles"
_
<
10592 The Security National Bank of Sioux Falls, S. Dak., to " Security National Bank and
Trust Company of Sioux Falls "
10997 First National Bank at Flint, Mich., to "First National Bank and Trust Company at
Flint"
11620 The First National Bank of Roebling, N. J., to "The First National Bank and Trust
Company of Roebling"_._
10557 The Farmers National Bank of Greensburg, Kans., to "The First National Bank in
Greensburg"
11766 The First National Bank of Fairfield, Ala., to "The Fairfield American National Bank".
2864 The Gap National Bank, Gap, Pa., to "The Gap National Bank and Trust Company"
11474 The Baldwin National Bank, Baldwin, N. Y., to "The Baldwin National Bank and
Trust Company"
1367 The Hampden National Bank of Westfield, Mass., to "Hampden National Bank and
Trust Company of Westfield "
:
8850 The First National Bank of Highland Falls, N. Y., to "The First National Bank and
Trust Company of Highland Falls "
12434 The South Texas National Bank of Galveston, Tex., to " Hutchings-Sealy National Bank
of Galveston"
6962 The First National Bank of Trafford City, Pa., to "The First National Bank of Trafford"
2331 The Flemington National Bank, Flemington, N. J., to " The Flemington National Bank
and Trust Company"___
12540 The Engineers National Bank of Boston, Mass., to " Continental National Bank of Boston"


335

Date

1929
Nov. 1

13355

Nov. 20
Nov. 21
Nov. 22
Do.
Nov. 29
Dec. 31
1930
Jan. 2
Do.
Jan. 16
Jan. 17
Jan. 18
Jan. 20
Do.
Jan. 22
Jan. 24
Jan. 25
Do.
Jan. 27
Jan. 28
Jan. 29
Feb. 1
Do.
Do.
Do.
Do.
Do.
Feb. 3
Feb. 18
Feb. 20
Feb. 21
Feb. 26
Mar. 1
Mar. 12
Do.
Mar. 15
Apr. 1
Apr. 2
Do.
Apr. 7
Apr. 10
Apr. 15
Do. •

EEPOKT OF THE COMPTROLLER OF THE CURRENCY

273

TABLE NO. 14.—Changes of corporate title of national banks, year ended October
31, 1930—Continued
Charter
No.
2980
10923
8499
776
12667
3584
9985
13463
6371
13360
3312
10836
871
3089
8142
9564
13396
4178
13187
1018
11009
12546
4938
12818
13260
13221
10336
10228

Title and location
The First National Bank of Aberdeen, S. Dak., to "First National Bank and Trust Company of Aberdeen "
The Third National Bank of Walden, N. Y., to "The First National Bank and Trust
Company of Walden"
The Farmers National Bank of New Holland, Pa., to "The Farmers National Bank
and Trust Company of New Holland"
The Second National Bank of Allegheny, Pittsburgh, Pa., to "The Second National
Bank of Pittsburgh "
The Brotherhood Co-Operative National Bank of Tacoma, WTash., to "The Washington
National Bank in the City of Tacoma"
The Merchants National Bank of Lawrence, Kans., to "The First National Bank of
Lawrence"
The Oklahoma State National Bank of Clinton, Okla., to "The Oklahoma National
Bank of Clinton"
The St. Paul National Bank, St. Paul, Nebr., to "St. Paul National Bank"
The Irvington National Bank, Irvington, N. Y., to "The Irvington National Bank and
Trust Company"
The Washington Square National Bank of New York, N. Y., to " Washington National
Bank of New York"
The Fulton County National Bank of Gloversville, N. Y., to "The Fulton County National Bank and Trust Company of Gloversville"
The Calcasieu National Bank of Southwest Louisiana at Lake Charles, La., to "The
Calcasieu National Bank of Lake Charles"
The Merchants' National Bank of Meadville, Pa., to "The Merchants National Bank
and Trust Company of Meadville "
The First National Bank of Bedford, Pa., to " First National Bank & Trust Company of
Bedford"
The National Bank of Ness City, Kans., to "First National Bank in Ness City"
Tbe Farmers National Bank of Oklahoma City, Okla., to "City National Bank and
Trust Company, Oklahoma City"
The Security National Bank and Trust Company of Red Wing, Minn., to "The Red
Wing National Bank and Trust Company"
The National Bank of Commerce in St. Louis, Mo., to " Mercantile-Commerce National
Bank in St. Louis"
The Western National Bank in Los Angeles, Calif., to " Central National Bank in Los
Angeles"
The Northampton National Bank of Northampton, Mass., to "Northampton National
Bank and Trust Company".
The West Side National Bank of Chicago, 111., to "The West Side-Atlas-National Bank
of Chicago"
First National Bank of Daytona Beach, Fla., to " First Atlantic National Bank of Daytona Beach"
The New First National Bank of Meadville, Pa., to " First National Bank of Meadville "..
The East Rockaway National Bank, East Rockaway, N. Y., to "East Rockaway National Bank & Trust Company"
The Lefcourt National Bank and Trust Co. of New York, N. Y., to "The National
Safety Bank and Trust Company of New York"
The Lake Norden National Bank, Lake Norden, S. Dak., to "The First National Bank
& Trust Company of Lake Norden "
The City National Bank of Decatur, Ala., to " First National Bank in Decatur"
The Anaheim National Bank, Anaheim, Calif., to "Anaheim First National Bank"

Date
193C)

Apr.

17

May

1

M a y 10
M a y 12

Do.
May 20

May
June

31
6

June

16

June

17

June

20

June

28

July

1

Do.
Do.
July

9

Do.

July

15

July

31

Aug.

1

Aug.

6

Aug. 18
Aug. 25
Aug. 30
Sept. 16
Sept. 20
Sept. 26
Oct. 1

TABLE N O . 15.—Changes of corporate title incident to consolidations of national

banks, and of State banks with national banks, year ended October 81, 1930
Sunnyside National Bank, Sunnyside, Wash. (12181), and First National Bank of Sunnyside (8481), consolidated under the charter of the latter with title: The First National Bank of Sunnyside.
The Citizens National Bank of Lansdale, Pa. (7735), and First National Bank of Lansdale (430), consolidated under the charter of the latter with title: The First National Bank of Lansdale.
The United Banking and Trust Company of Cleveland, Ohio, and Central National Bank of Cleveland
(4318), consolidated under the charter of the latter with title: Central United National Bank of Cleveland.
The Livonia State Bank, Livonia, N. Y., and The Stewart National Bank of Livonia (13006), consolidated
under the charter of the latter with title: The Stewart National Bank and Trust Company of Livonia.
The Citizens National Bank of Pennsboro, W. Va. (7246), and The First National Bank of Pennsboro
(7191), consolidated under the charter of the latter with title: First-Citizens National Bank of Pennsboro.
The Fourth National Bank of Atlanta, Ga. (5045), and The Atlanta and Lowry National Bank (1559), consolidated under the charter of the latter with title: The First National Bank of Atlanta.
Fairmont Trust Company, Fairmont, W. Va., and Home Savings Bank, Fairmont, and The Peoples
National Bank of Fairmont (9645), consolidated under charter of the latter with title: The Union National
Bank of Fairmont.
The Commercial National Bank of Columbus, Ohio (2605), and The City-National Bank of Commerce
of Columbus (7621), consolidated under charter of the latter with title: The City National Bank &
Trust Company of Columbus.
The Bingham State Bank, Mt. Morris, N. Y., and The Genesee River National Bank of Mt. Morris
(1416), consolidated under the charter of the latter with title: Genesee River National Bank and Trust
Company of Mt. Morris.



274

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 15.—Changes of corporate title incident to consolidations of national

banks, and of State banks with national banks, year ended October 31,1930—Con.

Haugan State Bank, Chicago, 111., and The Foreman National Bank, Chicago (12403), consolidated under
the charter of the latter with title: Foreman-State National Bank.
The Tri State Loan and Trust Company, Fort Wayne, Ind., and First National Bank of Fort Wayne (11),
consolidated under the charter of .the latter with title: First and Tri State National Bank and Trust
Company of Fort Wayne.
The City National Bank of Dallas, Texas (2455), and The American Exchange National Bank of Dallas
(3623), consolidated under the charter of the latter with title: First National Bank in Dallas.
The Union National Bank of Brunswick, Me. (1118), and The Pejepscot National Bank of Brunswick
(1315), consolidated under the charter of the latter with title: Brunswick National Bank.
Farmers and Merchants Bank, Baraboo, Wis., and The First National Bank of Baraboo (3609), consolidated under the charter of the latter with title: First National Bank & Trust Company of Baraboo.
The Farmers National Bank of Chickasha, Okla. (12230), and The Citizens National Bank of Chickasha
(5547), consolidated under the charter of the latter with title: The Citizens-Farmers National Bank of
Chicakasha.
The National City Savings Bank and Trust Company of Vicksburg, Miss. (12501), and The First National
Bank of Vicksburg (3258), consolidated under the charter of the latter with title: The First National
Bank & Trust Company of Vicksburg.
The Security National Bank of Oklahoma City, Okla. (8472), and The American-First National Bank in
Oklahoma City (4862), consolidated under the charter of the latter with title: The First National Bank
and Trust Company of Oklahoma City.
The First National Bank of Princeton, 111. (903), and The Citizens National Bank of Princeton (2413),
consolidated under the charter of the latter with title: Citizens First National Bank of Princeton.
The New Carlisle Bank, New Carlisle, Ohio, and The First National Bank of New Carlisle (6594), consolidated under the charter of the latter with title: The New Carlisle National Bank.
The First National Bank of Clayton, N. Y. (3797), and The National Exchange Bank of Clayton (5108),
consolidated under the charter of the latter with title: The First National Exchange Bank of Clayton.
The Security Bank, Portsmouth, Ohio, and The Central National Bank of Portsmouth (7781), consolidated
under the charter of the latter with title: The Security Central National Bank of Portsmouth.
The Torrington Trust Company, Torrington, Conn., and The Torrington National Bank (5235), consolidated under the charter of the latter with title: The Torrington National Bank and Trust Company.
The Yakima National Bank, Yakima, Wash. (3862), and First National Bank of Yakima (3355), consolidated under the charter of the latter with title: Yakima First National Bank.
The Gate City National Bank of Kansas City, Mo. (9404), and Traders National Bank of Kansas City
(9236), consolidated under the charter of the latter with title: Traders Gate City National Bank of Kansas
City.
Merchants and Illinois National Bank of Peoria, 111. (3254), and The Commercial National Bank of Peoria
(3296), consolidated under the charter of the latter with title: Commercial Merchants National Bank
and Trust Company of Peoria.
The Chickasha National Bank, Chicakasha, Okla. (8203), and The Oklahoma National Bank of Chiekasha, (9938), consolidated under the charter of the latter with title: Oklahoma National Bank of Chickasha.
The Farmers State Bank of Victoria, Kans., and The First National Bank of Victoria (10749), consolidated
under the charter of the latter with title: The Farmers National Bank of Victoria.
The Sterling National Bank, Sterling, 111. (2709), and The First National Bank of Sterling (1717), consolidated under the charter of the latter with title: First Sterling National Bank.
The First National Bank of Harrodsburg, Ky. (1807), and The Mercer National Bank of Harrodsburg
(2531), consolidated under the charter of the latter with title: First-Mercer National Bank of Harrodsburg.
Potter County Bank, Gettysburg, S. Dak., and The First National Bank of Gettysburg (8776), consolidated under the charter of the latter with title: Potter County National Bank of Gettysburg.
The Farmers National Bank of Blue Earth, Minn. (7641), and The First National Bank of Blue
Earth (5393), consolidated under the charter of the latter with title: First and Farmers National Bank of
Blue Earth.
National Union Bank and Trust Company of Jackson, Mich. (11289), and The Peoples National Bank
of Jackson (1533), consolidated under the charter of the latter with title: Union & Peoples National
Bank of Jackson.
The Logansport State Bank of Logansport, Ind., and The City National Bank of Logansport (5076), consolidated under the charter of the latter with title: City and State National Bank & Trust Company of
Logansport.
Bay View Bank, Milwaukee, Wis., and The Mechanics National Bank of Milwaukee (12816), consolidated
under the charter of the latter with title: Bay View National Bank of Milwaukee.
The Woodbridge National Bank, Woodbridge, N. J. (11888), and The First National Bank of Woodbridge
(8299), consolidated under the charter of the latter with title: The First National Bank and Trust
Company of Woodbridge.
The Old Lowell National Bank, Lowell, Mass. (1329), and The Union National Bank of Lowell (6077),
consolidated under the charter of the latter with title: Union Old Lowell National Bank.
The Union National Bank of Butler, Pa. (13447), and Butler County Trust Company, Butler, and
The Butler County National Bank of Butler (4374), consolidated under the charter of the latter with
title: The Butler County National Bank and Trust Company of Butler.
The Southern National Bank of Richmond, Ky. (9832), and The Madison National Bank & Trust Company of Richmond (1790), consolidated under the charter of the latter with title: Madison-Southern
National Bank & Trust Company of Richmond.
Livingston County Trust Company, Geneseo, N. Y.. and The Genesee Valley National Bank, Geneseo
(886), consolidated/under the charter of the latter with title: Genesee Valley National Bank and Trust
Company of Geneseo.
The Kennett Trust Company, Kennett Square, Pa., and The National Bank of Kennett Square (2526),
consolidated under the charter of the latter with title: National Bank and Trust Company of Kennett
Square.
Home Savings Bank of Whittier, Calif., and The Whittier National Bank, Whittier (7999), consolidated under the charter of the latter with title: The Whittier National Trust and Savings Bank.
The Penn National Bank, Philadelphia, Pa. (540), and The Central National Bank of Philadelphia (723),
consolidated under the charter of the latter with title: Central-Penn National Bank of Philadelphia.
The National Exchange Bank of Milwaukee, Wis. (1003), and The Marine National Bank of Milwaukee
(5458), consolidated under the charter of the latter with title: Marine National Exchange Bank of Milwaukee.




REPORT OF THE COMPTROLLER OF THE CURRENCY

275

TABLE NO. 15.—Changes of corporate title incident to consolidations of national
banks, and of State banks with national banks, year ended October 31,1930—Con.
Red Lion Trust Company, Bed Lion, Pa., and The Red Lion First National Bank, Red Lion (5184),
consolidated under the charter of the latter with title: First National Bank and Trust Company of Red
Lion.
Continental Trust Company, Macon, Ga., and The Macon National Bank, Macon (10270), consolidated
under the charter of the latter with title: The First National Bank & Trust Company in Macon.
The Zanesville Bank & Trust Company, Zanesville, Ohio, and The Peoples Savings Bank Company,
Zanesville, and The Guardian Trust and Safe Deposit Company, Zanesville, and The Old Citizens National Bank of Zanesville (5760), consolidated under the charter of the latter with title: The Citizens
National Bank in Zanesville.
Merchants Bank and Trust Company, Washington, D. C , and Federal-American National Bank of
Washington (10316), consolidated under the charter of the latter with title: Federal-American National
Bank and Trust Company of Washington.

TABLE NO. 16.—National banks chartered during the year ended October 31, 1930

ALABAMA

13412
13414

American National Bank of Gadsden
American National Bank & Trust Company of Mobile-

700, 000

Total (2 banks)
13418
13465

$200, 000
500,000

CALIFORNIA

First National Bank in Turlock
First National Bank in Orosi
Total (2 banks)

75,000
25, 000
100, 000

FLORIDA

13421
13437
13498

Barnett National Bank of Avon Park
Snell National Bank in Winter Haven
Florida National Bank at St. Petersburg
Total (3 banks)

50, 000
200, 000
200, 000
450, 000

GEORGIA

13469 Citizens National Bank in Marietta
13472 Liberty National Bank & Trust Company of Savannah
Total (2 banks)

100, 000
600,000
700, 000

ILLINOIS

13448
13449
13451
13452
13464
13478
13497

First National Bank in Georgetown
National Bank of Albion
Farmers National Bank of Dahlgren
First National Bank in Mount Olive
First National Bank and Trust Company in Alton
First National Bank of Pana
First National Bank of Polo
Total (7 banks)

40,000
50,000
25,000
50, 000
500,000
75, 000
50,000
790, 000

TOWA

13400 First National Bank in Sioux Rapids
13458 National Bank and Trust Company of Chariton
13473 Poweshiek County National Bank of Grinnell
13495 National Bank of Seymour
Total (4 banks)

50, 000
100,000
50, 000
25, 000
225, 000

KANSAS

13406 Peoples National Bank of Liberal
13492 Security National Bank of Independence
Total (2 banks)
.

50,000
250, 000
300, 000

KENTUCKY

13479

Lincoln National B ank of Hodgenville

55,000

MASSACHUSETTS

13391 Old Colony National Bank of Boston *
13394 Spencer National Bank
13395 Barnstable County National Bank of Hyannis_
13411 First National Bank of Webster
Total (4 banks)

200,000
100,000
100,000
100,000
500,000

i Consolidated on Dec. 14,1929, with The First National Bank of Boston under act of Nov. 7,1918.




276

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 16.—National banks chartered during the year ended October 81, 1930—
Continued

13434

Security National Bank of Grand Rapids

$500,000

MINNESOTA

13396 Security National Bank and Trust Company of Red Wing 5
13397 National Bank of Benson
13399 Pipestone National Bank
13401 Security National Bank of Willmar
13405 Minnesota National Bank of East Grand Forks
13422 Freeborn County National Bank & Trust Company of Albert Lea
13468 Farmers & Merchants National Bank in Ivanhoe
13486 Northwestern National Bank of Litchfield
Total (8 banks)

100,000
50,000
75,000
100,000
50,000
100, 000
25, 000
75,000
575, 000

MISSISSIPPI

13403
13413

Commercial National Bank of Greenville

145, 000

Total (2 banks)
13481

120,009
25,000

First National Bank of Waynesboro

MISSOURI

Clayton National Bank

100,000

MONTANA

13417

Continental National Bank of Harlowton

50,000

NEBRASKA

13408
13415
13419
13420
13423
13424
13425
13426
13429
13431
13433
13435
13440
13446
13453
13456
13461
13462
13463
13474

Stephens National Bank of Fremont
State National Bank of Wayne
Farmers National Bank of Grant
American National Bank of Kimball
First National Bank of Lewellen
Nebraska National Bank of Grand Island....
American National Bank of Sidney
First National Bank in Cozad 3
First National Bank of Bushnell
Cattle National Bank of Seward
First National Bank of Glenvil
Farmers & Merchants National Bank of Ashland
Kimball National Bank, Kimball
Overton National Bank, Overton
Farmers National Bank in Pilger
National Bank of Doniphan
City National Bank of Greeley
Citizens National Bank in St. Paul
St. Paul National Bank *
Citizens National Bank of Tobias
Total (20 banks)

100,000
50,000
30,000
100,000
50,000
100,000
50, 000
50,000
25,000
35,000
30,000
75,000
50,000
25,000
50,000
25,000
30,000
35,000
40, 000
25,000
975,000

NEW MEXICO

13438 Hot Springs National Bank, Hot Springs
13488
First National Bank of New Hobbs

25,000
25, 000
50,000

Total (2 banks)
NEW YORK

13404
13409
13441
13442
13445
13476
13493

Lincoln National Bank and Trust Company of Syracuse «
Central National Bank of Mineola
Plaza National Bank of White Plains
Niagara National Bank of Buffalo
National Exchange Bank and Trust Company of New York
Mattituck National Bank and Trust Company, Mattituck
First National Bank of Minoa
First National Bank of Odessa
Total (8 banks)
,

2 Title changed to " T h e Red Wing National Bank and Trust Company."
Placed in voluntary liquidation on Sept. 11, 1930.
Title changed to "St. Paul National Bank."
Digitized for « Title changed to "Lincoln National Bank and Trust Company of Syracuse."
FRASER
3
4



1, 200, 000
100,000
100,000
300,000
1,000,000
100,000
50,000
50,000
2, 900, 000

REPORT OF THE COMPTROLLER OF THE CURRENCY

277

TABLE NO. 16.—National banks chartered during the year ended October 81, 1930—
Continued

NORTH DAKOTA

13398
13410
13436
13454
13455

Dakota National Bank & Trust Company of Bismarck.__
First National Bank in Glen Ullin
First National Bank in Neche
First National Bank of Carson
Union National Bank and Trust Company in Minot
Total (5 banks)

$100,000
25,000
25,000
25,000
100,000
275,000

OHIO

13457 National Bank of Defiance
13490
First National Bank of Washington Court House

250,000

Total (2 banks)
13480

150,000
100,000

OKLAHOMA

Fourth National Bank of Tulsa

250,000

PENNSYLVANIA

13392
13432
13447
13485
13491
13494
13496

Conyngham National Bank, C onyngham
Ligonier National Bank, Ligonier
Union National Bank of Butler«
Third National Bank of Uniontown?
National Bank and Trust Company of Connellsville
West Shore National Bank of Lemoyne
Union National Bank of Sewickley
Total (7 banks)

25,000
125,000
200,000
200,000
125, 000
100, 009
100,000
875,000

SOUTH DAKOTA

13407 Farmers & Merchants National Bank in Milbank
13430 First National Bank of Philip
13459 First National Bank of Leola
13460 First National Bank in Britton
13466 Security National Bank of Hyron
13467 First National Bank in Mobridge
13477 First National Bank of Bison
13483 First National Bank and Trust Company of Chamberlain
Total (8 banks).

50,000
50,000
25,000
25,000
200,000
50,000
25,000
25,000
450,000

TENNESSEE

13482

Citizens National Bank of Greeneville

75,000
TEXAS

13402
13416
13427
13428
13443
13450
13475
13489

First National Bank in Rockwall
First National Bank in Honey Grove
First National Bank in McKinney
Red River National Bank in Clarksville
Citizens National Bank of Henderson
Commercial National Bank of Jefferson
First National Bank in Hutto
First National Bank in Plainview
Total (8banks)__
._

25,000
50,000
100,000
100, 000
100,000
25,000
25,000
100,000
525, 000

WASHINGTON

13439 National Bank of East Stanwood
13444 First National Bank of Reardan
13470 Central National Bank of Commerce of Seattle
13471 Washington National Bank of Commerce of Seattle
Total (4 banks)

25,000
50,000
200, 000
100,000
375,000

WEST VIRGINIA

13484

25,000

Kimball National Bank, Kimball
WISCONSIN

13487

First National Bank in Phillips
Total United States (108 banks)

25,000
12, 240, 000

• Consolidated on June 3, 1930, with The Butler County National Bank and Trust Company of Butler,
under act of Nov. 7, 1918, as amended Feb. 25, 1927.

Digitized for 7 Consolidated on Oct. 1,1930, with The Second National Bank of Uniontown under act of Nov. 7,1918
FRASER


278

KEPOKT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 17.—National banks chartered which are conversions of State banks
during the year ended October 31, 1930
Charter
No.

Title and location

State

Approxisur- ApproxiDate of Authorized mate and
plus
charter
capital
undivided mate assets
profits

1929
The Commercial National Bank of Green- Miss-_ Dec. 16
ville.
13408 The Stephens National Bank of Freemont Nebr.. Dec. 24
13412 The American National Bank of Gadsden. Ala-.. Dec. 31

$120,000

$44,401

100,000
200,000

32, 545
88,005

1,482,428
1, 300,748

1930
Jan. 2
Jan. 4

25,000
500,000

75,434
257, 845

761,331
2,173,953

Jan. 6
Jan. 25
Jan. 28
Feb. 5
Feb. 8

50,000
30,000
100,000
50,000
100, 000

49,696
35,465
23, 256
12, 504
40, 738

1, 243, 555
584,859
961, 755
385,594
1,624,913

Feb. 11
.-do....
Feb. 20
do.
Feb. 27
Mar. 5
Mar. 7

50,000
50,000
25,000
50,000
35,000
30,000
75,000

17,205
13,798
3,848
31,441
10,866
6,012
47,990

911,519
474,887
129,715
673,363
559, 693
242, 261
1,331,004

Mar. 18
Mar. 19
Apr. 2

25,000
50,000
100,000

22,174
5,395
98, 544

374,391
615, 643
920, 250

Apr. 14
Apr. 15
Apr. 17
May 1
—d o .
d
May 26
June 2

50, 000
25,000
25,000
35, 000
40, 000
100, 000
200,000

25, 263
5,590
6,619
23,299
15,671
29, 656

338,905
258,448
305,466
447, 566
519, 269
407, 076
2,359,099

100,000

34,242

1,108,401

June 7

600,000

156,436

5, 772,414

June 13
July 25

25,000
75,000

15,932
39, 482

268,172
1,199,916

3,040,000

1, 359, 251

31,138,465

13403

13413 The First National Bank of Waynesboro. Miss-.
13414 The American National Bank & Trust
Co. of Mobile.
13415 The State National Bank of Wayne
Nebr..
13419 The Farmers National Bank of Grant
._do__
13420 The American National Bank of Kimball. - d o - _
13423 First National Bank of Lewellen
13424 The Nebraska National Bank of Grand
Island.
13425 The American National Bank of Sidney. _ - d o _ 13426 First National Bank in Cozad
13429 The First National Bank of Bushnell
13430 The First National Bank of Philip
S. Dak
13431 The Cattle National Bank of Seward
Nebr..
13433 The First National Bank of Glenire...
..do
13435 The Farmers & Merchants National Bank
of Ashland.
Wash.
13439 The National Bank of East Stanwood
Nebr..
13440 Kimball National Bank, Kimball
13445 The Mattituck National Bank & Trust N. Y_.
Co., Mattituck.
13453 The Farmers National Bank in Pilger
Nebr..
13454 The First National Bank of Carson...
N. Dak
13456 National Bank of Doniphan
Nebr..
13462 The Citizens National Bank in St. Paul.. ...do__
13463 The St. Paul National Bank, St. Paul
13469 Citizens National Bank in Marietta
13470 The Central National Bank of Commerce Wash,
of Seattle.
13471 The Washington National Bank of Com- — d o . .
merce of Seattle.
13472 The Liberty National Bank & Trust Co. Ga—_
of Savannah.
13474 The Citizens National Bank of Tobias. _ _ Nebr..
13482 The Cit izens National Bank of Greenville - Tenn _
Total (31 banks) _




$1,401,871

KEPORT OP THE COMPTROLLER OF THE CURRENCY

279

TABLE N O . 18.—National banks, by States and geographical divisionsy organized,

Sailed, and reported in voluntary liquidation during the year ended October 31 y
1930
Organized
States

Vermont
Massachusetts.-- _
_
Connecticut

1
4

Total New England
States

Assets

Number

Capital

Gross asset

$100,000 $1, 063, 924
2
1

$500, 000

$300,000
100,000

$3, 504, 265
646,009

Total Eastern States._

500,000

1

100,000

1, 063, 924

3

400, 000

4,150, 274

2,900,000

7

Virginia
West Virginia.__
North Carolina
South Carolina
Georgia
Florida
Alabama

4
8

New York
New Jersey
Pennsylvania..
Delaware
Maryland

875, 000

1
1
5

30,000
200,000
275,000

499,171
1, 060,917
5,158, 448

9
4
17
1
7

7,150, 000
1, 225, 000
2,850, 000
110, 000
3, 400, 000

54,075, 206
25, 624,117
44,872, 099
2, 082, 657
54,947, 034

15

3, 775, 000

7

505, 000

6, 718, 536

38

14, 735, 000 181, 601,113

2
4
5
3
3

736,137
100,000
125, 000 121,151,743

13 1,225, 000 8 12, 038, 427
2
2,816,654
200,000
1
« 213,989
100,000

4
3
2
13
3
4
2
1
2
28
6
6

475, 000
225, 000
200, 000
3, 075, 000
575, 000
575,000
80,000
200, 000
250, 000
2, 222, 500
775, 000
447, 900

4, 844, 696
4, 009, 673
2,112,047
34, 285, 415
4,940,150
4,972,811
1, 008, 397
1,177,175
3, 450,164
12, 358,651
8,616, 749
4,801, 545

1

_ _

Total Middle States._
North Dakota
South Dakota
Nebraska
Kansas
Montana
Colorado
New Mexico
Oklahoma

_

Total Western States._
Washington
Oregon
California
Idaho
Utah
Arizona _ _ _

55,000
75,000

20

2, 675, 000

40

4, 380, 000

37, 448, 089

74

9,100, 400

86, 577,473

2

__

525, 000

1
1

Total Southern States.

700, 000
450,000
700, 000
145, 000

8

Louisiana
Texas
Arkansas
Kentucky
Tennessee

25,000

2
3
2
2

MlississiDDi

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri

Voluntary liquidations

Failed

Num- Authorized Num- Capital
ber
ber
capital

250, 000
790, 000
500, 000
25, 000
575, 000
225, 000
100, 000

525,000
75,000
555,000
50, 000
25,000

7

7
1
1
8
4
1

3
3
11
1
1
9
2

490, 000
50,000

9

2,063, 356
427, 844

6
13
11
3
1
12
20
5

1, 275, 000
830,000
1,180,000
700, 000
30,000
560, 000
1, 225,000
1,945, 000

25, 396, 460
6,962, 417
18, 264, 318
7, 368,900
311,603
7, 295, 590
13, 568, 696
26, 422, 338

24

2, 465, 000

30

1, 770, 000

16, 255, 029

71

7, 745, 000

105, 590, 322

5
8
20
2
1

275, 000
450, 000
975, 000
300, 000
50, 000

8

250, 000

» 1, 378,173

2
1

3
3
2
1

110, 000
325, 000
55, 000
25,000

50, 000
250,000

5

260, 000

2, 512,171

12
4
6
3
6
2
3
18

400, 000
200, 000
525, 000
175,000
380, 000
50, 000
175,000
1,065,000

4, 207,985
1, 572,104
5, 524,279
1,936,052
5,825, 555
336, 338
1, 614,497
11,791,447

39

2, 350, 000

22

1,025, 000

12,136,186

54

2,970, 000

32, 808, 257

4

375, 000

1

75, 000

1, 005, 402

2

100, 000

3

2
1
14
2
3
1

90, 000
500,000
3,135, 000
80,000
375, 000
100, 000

831,813
8, 520, 525
28,035,885
1, 348, 012
3, 258, 293
1, 281,338

7

575, 000
175,000
680,000
1, 200,000

3 4,902, 352
1, 057, 453
7,114, 208
7, 417,126

4

8

6,984, 331
660, 328
4, 665, 366
1, 244, 074
209, 730

1
(

1, 527,184
6, 295, 576
266, 934
156,148

500,000 ii 4, 750, 733

Total Pacific States.._

6

475, 000

4

575,000

5, 756,135

23

4,280,000

43,275,866

Total United States...

108

12, 240, 000

104

8,355, 000

79, 377,899

263

39, 230, 400

454, 003, 305

1 Includes 1 bank with capital of $25,000 and assets of $500,725 restored to solvency.
2
Includes 1 bank with capital of $50,000 previously reported in voluntary liquidation.
8
Includes 1 bank with capital of $25,000 and assets of $44,066 previously reported in voluntary liquidation,
4
Includes 1 bank with capital of $50,000 and assets of $270,474 restored to solvency.
c
Includes 3 banks with capital aggregating $225,000, one of which had assets of $148,284 previously reported
in 6voluntary liquidation.
Was in voluntary liquidation.
* Includes 1 bank with capital of $400,000 and assets of $5,659,363 restored to solvency.
8
Iucludes 1 bank with capital of $65,000 previously reported in voluntary liquidation.
c
Includes 3 banks with capital aggregating $250,000 previously reported in voluntary liquidation.
i° Includes 1 bank with capital of $50,000 and assets of $77,238 previously reported in voluntary liquidation.
n Includes 1 bank with capital of $50,000 and assets of $147,190 previously reported in voluntary liquidation.


22439°—-31- -19


280

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 19.—Number and classification of national banks chartered monthly
during the year ended October 31, 1930
Conversions

Primary organizations

Reorganizations

Total

Months
Number
November
December
January
February
March
April
May
June
July
August
September
October

Number

Capital

3
5
7
4
4
3
4
1

Total

31

_ _

$420,000
705,000
360,000
180,000
200, 000
175,000
925, 000
75, 000

3, 040, 000

Number

Capital

2
2
3

$300,000
125,000
225,000

1

25,000

1

25,000

9

700,000

Capital

4 $1,425,000
11
750,000
2
100,000
3
325, 000
7 2,150, 000
13
870, 000
5
800,000
5
255, 000
3
375, 000
9
925, 000
3
175, 000
3
350, 000
68

8, 500, 000

Number

Capital

6
16
10
10
11
18
8
10
4
9
3
3

$1,725,000
1, 295, 000
1,030,000
685,000
2,330, 000
1,095, 000
975,000
1, 205,000
450,000
925, 000
175,000
350,000

108

12, 240,000

TABLE N O . 20.—Principal items of resources and liabilities of national
classified according to capital stock, December 31, 1929

banks,

CAPITAL STOCK OF LESS THAN $50,000
[In thousands of dollars]
Number of
banks

Location

Loans and Bonds
discounts, and secu- Aggregate
including
rities
resources Capital
overdrafts owned

Surplus
and undivided
profits

Total
deposits

COUNTRY BANKS

Maine
New Hampshire
Vermont
Massachusetts
Connecticut

120
709
1,016
976

Total New England States.

321
1,630
1,870
2,076
1,390

25
110
75
125
75

70
111
111
174
90

216
1,286
1,507
1,658
1,092

_

Total Southern States
_

Total Middle
States

_

7,287

410

556

5,759

29,942
6,645
45,849
513
6,180

66,347
20,295
106,364
1,386
13, 227

2,655
745
4,930
75
485

5,527
1,716
11,281
108
1,167

54,349
16, 775
83,281
1,117
10,953

92, 599

89,129

207, 619

8,890

19, 799

166,475

36
_.

2,739

28,716
11,093
46,513
693
5,584

342

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

3,504
102
29
190
3
18

New York
New Jersey
Pennsylvania
Delaware
Maryland

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri

121
615
679
831
493

11,046
9,920
947
1,208
2,483
556
4,394
1,117
29,489
4,780
9,284

3,203
112
234
493
289
1,380
163

17,620
16,277
1,454
2,063
4,350
1,100
8,444
1,796
51,983
16,144
9,038

998
1,075
155
140
410
115
630
150
5,257
725
780
585

1,065
986
77
74
284
54
739
34
3,268
409
1,126
538

14,360
12, 886
1,147
1,723
3,379
800
6,375
1,570
41,215
7,147
13,486
7,173

138,949

11,020

8,654

111,261

23,540
44,991
8, 655
13,915

1,848
1,815
3,397
565
925

31,971
11,297

2,315
875

2,130
1,392
2, 570
313
493
2,577
1,448
496

20,860
18,514
35,590
7,215
11,791
59,706
25,937
9,199

230,880

15,665

11,419

188,812

5
14
4
23
6
190
28
29
22

1,463
3,704
1,616

400

80,483

22,311

68
124
20
35
146
82
32

14,075
12, 611
22, 711
4,546
6,985
32,190
17, 291
6,100

8,651
6,525
14,667
2,791
4,847
24,303
8,271
2,716

575

116, 509

72,771

Western




KEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 20.—Principal items of resources and liabilities of national

281
banks,

classified according to capital stock, December 81, 1929—Continued
CAPITAL STOCK OF LESS THAN $50,000—Continued
[In thousands of dollars]
Bonds
Num- Loans and and secu- Aggregate
ber of discounts, rities
including
resources Capital
banks overdrafts owned

Location

Surplus
and undivided
profits

Total
deposits

COUNTRY BANKS—continued

North Dakota...
South Dakota
Nebraska
_
Kansas
Montana
Wyoming _
_
_
Colorado
New Mexico
Oklahoma
Total Western States
W ashington
Oregon
California
Idaho
-- - Utah
Nevada
Arizona
_
Total Pacific States
_

90
57
57
111
33
7
54
10
174

16,602
12,134
12, 742
21, 233
4,061
1, 562
10, 269
2,189
27, 250

6,945
4,574
4,363
7,843
2,807
1,440
4,819
735
17,859

29, 710
21, 538
21,875
37,697
9,276
4,493
20, 206
4,006
65, 707

2,325
1,500
1,535
2,937
865
190
1,455
260
4,540

1,531
916
1,185
1,846
304
234
782
206
1,780

23,979
18, 111
17,176
30, 347
7,681
3,955
10, 743
3,357
56,951

593

108,042

51, 385

214, 508

15, 607

8,784

178,300

28
25
44
18
4
3
2

4,959
3,885
8,782
3,271
1,263
1,390
265

4,274
2,637
6,453
1,852
234
886
287

11,172
8,549
20, 293
6,633
1,868
2,671
697

730
675
1,120
480
100
90
50

364
387
951
233
122
114
16

9,755
7,170
17, 485
5,679
1,484
2,414
616

124

23,815

16, 623

51, 883

3, 245

2,187

44, 603

2,050

Total United States

424,952

254,958

851,126

64,837

51, 399

695, 210

C A P I T A L S T O C K O F $50,000, B U T L E S S T H A N $200,000
OTHER RESERVE CITIES

Philadelphia
Dallas
Waco
Chicago
Topeka

P u e b l o . __'
.
Muskogee.
._
Oklahoma C i t y . _

-

-. _ _ _ _ _

Total reserve cities

1
1
1
1
1
1
1
1

580
2,495
310
954
423
1,014
567
350

326
1,421
287
951
649
948
447
231

1,227
5,150
924
2,440
1,439
2,581
1,427
784

125
150
100
100
150
100
100
100

48
350
59
81
54
154
20
15

799
4,405
660
2,198
1,119
2,224
1,195
669

8

6,693

5,260

15,972

925

781

13, 269

39
46
37
86
4
26

29,154
34, 483
28, 338
77, 554
1,613
17, 366

33, 720
21, 586
20, 833
56,448
920
12, 788

71,466
69,131
55,920
156, 586
3,113
36,210

3,020
4,215
3,385
8, 298
420
2,295

6,008
6,513
4,037
13, 792
483
4,122

59,019
51,614
43, 758
124, 297
1,878
27,132

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
South Carolina.
Georgia
Florida ._
Alabama.
Mississippi. ._ ._ _ _
Louisiana
Texas.
Arkansas
Kentucky..
._
Tennessee
Total Southern States



238

188, 508

146, 295

392, 426

21, 633

34,955

307, 698

306
180
484
11
51

260, 382
163, 509
414,465
7,304
48,150

213, 768
109, 629
300,960
6,083
37, 592

539, 651
317,984
824, 061
15, 340
97,086

25, 975
15,910
42, 381
891
4,222

44,310
24,153
94, 619
1,892
7,984

435,409
263,100
630,408
10,895
79, 588

1,032

893, 810

668,032

1, 794,122

89, 379

172,958

1,419,400

93
60
40
30
46
37
60
25
18
335
34
92
57

72,166
48,161
31,110
17, 500
24,861
17, 671
33,676
25, 516
8,001
150,421
17,652
64, 759
35, 749

17,548
14,866
5,937
5,405
9,644
17,037
10, 530
11,891
3,322
50,547
7,074
24,684
9,811

107,937
76,175
49,435
30, 217
45,189
49, 384
57,006
47,680
16, 680
276, 212
32,882
108, 502
57, 602

7,670
4,820
3,670
2,510
4,220
2,975
5,340
2,435
1,450
24,753
2,640
7,566
4,329

7,725
5,594
3,140
1,827
3,602
2,901
4,782
2,336
1,049
19,829
1,676
7,714
3,172

83,005
58,566
39,321
23,900
33,550
40,297
39,616
39,890
13,020
215,098
26,430
83,681
44, 889

927

547, 243

188, 296

954, 901

74, 378

65,347

741,263

282

REPOKT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 20.—Principal items of resources and liabilities of national

banks,

classified according to capital stocky December 81, 1929—Continued
CAPITAL STOCK OF $50,000 BUT LESS THAN $200,000—Continued
[In thousands of dollars]
Bonds
Num- Loans and and secu- Aggregate
ber of discounts, rities
resources Capital
including
banks overdrafts
owned

Location

Surplus
and u n divided
profits

Total
deposits

COUNTRY BANKS—continued

Ohio
Indiana
Illinois
. .
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Middle
States

107,972
69,038
164, 264
60,891
60,107
47, 652
73,056
31,041

62,098
33, 385
101,442
50,083
45, 531
45,947
40, 932
17,006

204, 333
126,504
323, 821
130, 527
125, 972
118, 231
143,471
61,498

14, 727
9,467
20,298
7,225
6,895
6,700
9,780
4,700

16, 544
8,302
22, 784
6,275
6,707
4,991
6,124
3,677

154, 365
98,410
256,138
106,940
104, 747
101,711
119,382
48,060

1,025

.

176
111
268
82
84
95
145
64

614,021

396, 424

1, 234, 357

79,792

75,404

989, 753

27
33
89
115
23
15
51
15
98

17, 469
21, 285
46, 951
56,086
13,104
12, 972
26,045
9,897
44, 537

12, 054
17, 354
19, 689
28,795
9,254
7,526
19, 111
7,324
38, 303

36,864
48,748
84,028
112, 093
28,612
27,161
59, 260
23,510
109, 594

2,045
2,415
5,790
7,965
1,925
1,280
3,645
1,050
6,915

1,433
1,894
4,274
5,720
1,565
1,744
2,297
649
3,119

31,829
42, 597
65,134
90,627
24,560
22,767
50,102
21,052
95,164

466

248, 346

159,410

529, 870

33,030

22, 695

443, 832

56
56
110
23
10
4
9

29, 385
32, 090
61, 272
14,189
5,620
3,174
5,728

26, 238
19,959
39, 798
7,439
2,008
1,338
3,584

69, 378
65, 945
124,618
28, 760
9,930
5,680
12,704

4,160
4,320
8,775
1,600
700
310
700

2,650
2,828
6,013
840
313
364
504

59, 364
56,412
104 101
25, 359
8,327
4,799
11 012
269, 374

Western

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

268

151,458

100, 364

317,015

20, 565

13, 512

Alaska (nonrnember banks)

4

2,253

1,873

5,240

275

240

4,593

Total Country Banks

3,960

2, 645, 639 1,660,694

5,227,931

319,052

385, 111

4,175,913

Total United States

3,968

2, 652, 332 1, 665, 954

5, 243,903

319,977

385,892

4,189,182

CAPITAL STOCK OF $200,000 BUT LESS THAN $500,000
CENTKAL RESERVE CITIES

Chicago
Total central reserve cities.

1,239

759

2,670

700

109

1,641

1,239

759

2,670

700

109

1,641

3,669
5,066
41,461
4,688
9,401
7,091
483
8,373
2,566
6,955
3,585
4,823
3,433
6,201

1,748
2,758
15,573
536
3,153
2,866
324

6,791
9,057
68,083
6,434
16,128
12,099
971
18,590

900
750
3,475
400
825
800
200
600
200
400
650
550
400
600
800
200
400
5,300
300
400

487
490
10,071
681
1,155
1,755
57
1,032
147
672
322
364
213
507
1,457
103
170
3,813
964
140

5,192
7,199
50,690
4,827
12,911
8,065
469
16,394
3,181
11,844
5,050
9,404
5,130
7,163
11,556
404
5,365
75,318
6,247
5,567

OTHER RESERVE CITIES

Brooklyn and Bronx.
Buffalo..
Philadelphia
Baltimore
Washington
Charlotte
Birmingham
^
El Paso
Fort Worth
Galveston.
San Antonio
Waco
Little Rock
Nashville
Cincinnati
Toledo..
Indianapolis
Chicago
Peoria
Milwaukee



445
3,284
39,629
4,826
4,220

421
3,327
2,109
3,357
867
649
5,175
9
1,172
31,412
1,356
935

13,364
7,849
10,894
6,178
8,575
14,729
711
6,312
88,096
7,767
6,414

REPORT OF THE COMPTROLLER OP THE CURRENCY
TABLE N O . 20.—Principal

items of resources and liabilities of national

283
banks,

classified according to capital stock, December 81, 1929—Continued
CAPITAL STOCK OF $200,000 BUT LESS THAN $500,000—Continued
[In thousands of dollars]
Number of
banks

Location

Loans and Bonds
discounts, and secu- Aggregate
including rities
resources
overdrafts owned

Capital

Surplus
and undivided
profits

200
350
250
200
1,050
700
600
1,250
700
650
200
200
400
450
250
300
500
450
1,000
250

200
332
340
753
481
736
550
529
290
75
118
145
487
142
152
143
185
467
51

2,076
4,576
8,918
5,186
19, 575
13, 050
19,764
16,148
13,405
8,837
2,553
3,987
3,356
8,228
1,942
4,420
11, 557
10, 324
12,911
2,303

Total
deposits

OTHER RESERVE CITIES—COntd.

Minneapolis
St. Paul
Des Moines
Dubuque
Sioux City
Kansas City, Mo
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
Wichita
Helena
Denver
Muskogee
Oklahoma City
Tulsa
Portland

1,360
2,856
4,789
1,990
11, 393
6,884
11,160
4,019
7,983
5,352
1,477
1,432
1,690
4,994
1,794
2,028
4,478
6,265
5,509
1,610

Ogden

325
1,175
2,179
3,056
5,849
3,462
3,185
9,828
2,348
2,355
966
1,757
830
2,113
274
2,241
4,316
2,480
5,342

380

2,499
5,182
9,500
5,958
23, 718
14, 749
21,424
18,423
14,917
10,811
3,226
4,449
3,997
9,365
2,655
5,234
12, 229
11,429
15, 069
2,862

137,187

510,666

28,100

30, 845

425, 092

257,189

137,946

513, 336

28, 800

30, 954

426, 733

33,435
9,659
9,143
96, 207
8,839
41,145

26, 779
4,278
5,363
52, 051
5,540
18,124

17, 039
16,620
173, 622
15, 875
70,043

3,025
1,250
1,300
9,790
750
4,482

5,523
2,708
1,233
14, 742
1,756
5,477

55, 418
11, 287
12,473
138, 783
11,887
54,606

81

198, 428

112, 135

360, 688

20, 597

31, 439

284,454

110
3
4

Total all reserve cities

255,950

111

Total other reserve cities __

108

215, 715
175,190
280,922
5,702
13, 005

138,932
78, 989
162, 247
2,420
3,532

404, 636
300, 720
520, 211
10,173
18, 984

21, 240
17, 200
27,450
663
902

30, 685
24, 320
60,973
1,712
1,693

331, 233
242, 827
393,385
6,940
15,724

274

690, 534

386,120 1, 254, 724

COUNTRY BANKS
Maine
New Hampshire
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States.
New York
New Jersey
Pennsylvania
Delaware
Maryland

.

Total Southern States

159

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota.
Iowa
Missouri
Total Middle
States

119, 383

990,109

9,260
8,263
4,304
4,788
4,533
5,347
9,756
8,863
1,451
27,169
9,077
5,317
3,880

60, 436
42, 901
31, 884
24, 574
27, 435
18, 508
41,824
44, 798
13, 601
145, 001
33, 084
31,162
23,310

4,125
2,670
2,275
1,800
2,800
1,850
4,400
2,410
1,200
10,100
2,050
2,375
1,950

4,614
3,233
2,244
1,897
2,202
1,197
2,564
2,256

698
8,247
1,761
2,127
991

43, 707
32, 568
25,557
19, 786
20, 223
13, 805
29,664
36, 445
10,427
118, 324
28,013
22, 498
17,176

312, 933

102, 008

538, 518

40, 005

34,031

418,193

103, 756
50,917
74, 587
31, 886
38,129
24, 908
22, 929
19, 346

._

67, 455

42, 474
25,424
20,169
14, 016
16, 710
8,058
22, 982
25, 589
7,700
80,139
16,174
20,197
13, 301

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

54,108
24,397
44, 339
23, 204
23, 985
14, 793
10, 677
14, 390

193, 299
92,630
145, 015
67, 572
76, 209
50,174
43, 750
42, 692

12, 975
6,425
9,125
3,250
5,000
3,000
2,900
2,700

15, 377
4,358
9,534
4,082
3,994
1,966
1,717
1,583

145, 959
73, 475
116, 063
55, 525
62, 111
42, 819
36, 091
36, 087

366,458

209, 893

711, 341

45, 375

42, 611

568,130

Western




179

284

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 20.—Principal items of resources and liabilities of national banks,
classified according to capital stock, December 81, 1929—Continued
CAPITAL STOCK OF $200,000 BUT LESS THAN $500,000—Continued
[In thousands of dollars]
Number of
banks

Location

Loans and
discounts,
including
overdrafts

Bonds
and secu- Aggregate
rities
resources
owned

Capital

Surplus
and undivided
profits

Total
deposits

COUNTRY BANK—continued

North Dakota
South Dakota
Nebraska
Kansas _
Montana
Wyoming
Colorado
_New Mexico
Oklahoma. _
_
_
_
Total Western States

5
2
1
10
9
3
7
2
6

10,646
3,731
1,425
20,433
24,487
6,831
13, 598
6,143
9,964

7,713
4,356
832
7,053
17,142
2,850
7,093
3,100
7,328

24,161
11,346
3,011
37,905
54,659
13,074
27, 590
12,187
22,141

1,350
450
200
2,200
2,000
800
1,600
650
1,350

763
562
137
1,905
2,413
472
969
301
663

21, 217
10, 216
2,144
31,982
48, 505
11,378
23,115
10, 514
19, 795

45

97, 258

57,467

206,074

10,600

8,185

178,866

Washington
Oregon
C alifornia
Idaho
.
Nevada
Arizona

11
6
28
2
2
2

18,717
10,493
48,344
7,367
3,656
6,212

14,975
5,767
22,747
3,657
2,409
5,807

42, 678
21,898
89,842
14,602
7,926
14,882

2,850
1,250
7,150
675
400
700

1,619
1,295
4,808
483
174
454

34, 845
17,450
73,602
12, 684
6,959
13,109

_

Total Pacific States

_

51

94, 789

55,362

191, 828

13,025

8,833

158, 649

Total country banks

789

1, 760, 400

922, 985

3, 263,173

197,057

244, 482

2, 598, 401

Total United States

900

2, 017, 589 1, 060,931

3, 776, 509

225, 857

275, 436

3, 025,134

C A P I T A L S T O C K O F $500,000 B U T LESS T H A N

$1,000,000

CENTRAL RESERVE CITIES

New York..
Chicago

5,971
7,398

10,007
12,540

2,000
1,250

1,133
400

6,261
10,311

13,369

3,454

22,547

3,250

1, 533

16,572

5,898

Total central reserve cities.

2,042
1,412

3,457
6,736
8,045
15, 312
7,353
7,221
1,682
1,685
4,544
2,282
3,532
1,767
6,728

11,458
21,810
41,188
71,102
29,285
38,951
11, 539
6,087
18,813
6,464
19,042
14, 225
19, 854
6,847
12,984
3,985
12,969
23,363
19, 615
2,091
12, 312
18, 794
29,638
6,551
7,115
37,646
6,198
14, 767
16,416
10, 615
12,067
16, 715
33, 090
17, 668

1,125
3,000
2,500
2,950
2,000
2,300
1,000
500
1,250
750
1,400
1,100
500
600
500
500
500
1,400
1,150
500
500
500
1,100
500
500
2,350
500
1,200
850
750
750
1,000
1,050
500

330
1,663
5,361
6,494
2,024
3,060
1,585
156
645
333
605
653
1,540
221
1,383
127
2,000
837
2,217
250
445
749
887
207
125
1,739
474
631
333
503
322
720
2,261
1,118

9,040
16, 855
29, 696
55,128
22, 614
31,479
7,402
4,957
14, 599
4,177
14,890
11,458
17,045
5,948
10,043
3,007
9,547
20,309
15,007
1,091
10,871
17,279
26,196
4,924
6,416
30,986
5,082
11,922
14,726
9,175
10,120
14,683
28,980
15,592

OTHER RESERVE CITIES

Boston
Brooklyn and Bronx
Philadelphia
Pittsburgh
Baltimore
Washington
Charlotte
Dallas.
Fort Worth
Galveston
Houston
San Antonio
Louisville
Nashville
Cincinnati
Columbus
Toledo
Chicago
Peoria
Grand Rapids
Minneapolis.
St. Paul....
Cedar Rapids
Des Moines
Dubuque
Kansas City, Mo
St. Joseph
St. Louis
Lincoln
Omaha
Kansas City, Kans
Topeka
Denver
Pueblo
_




11, 357
26, 221
40,125
15,488
20,743

_

7,931
2,190
9,200
2,603
10, 621
8,031
9,515
5,037
5,555
2,099
7,237
12, 780
9,843
1,064
6,801
7,989
14, 229
2,165
3,167
22,188
2,930
6,387
9,043
6,374
5,830
6,009
16, 008
4,773

180
3,845
1,001
3,341
5,468
6,315
694
2,434
5,207
6,372
2,356
1,998
5,705
711
5,876
2,915
852
2,784
5,514
10,099
5,645

REPORT OF THE COMPTROLLER OF THE CURRENCY

285

TABLE N O . 20.—Principal items of resources and liabilities of national banks,

classified according to capital stock, December 31, 1929—Continued
CAPITAL STOCK OF $500,000 BUT LESS THAN $1,000,000—Continued
[In thousands of dollars]
Number of
banks

Location

Loans and Bonds
discounts, and secu- Aggregate Capital
including rities
resources
overdrafts owned

Surplus
and un- Total
divided deposits
profits

OTHER RESERVE CITIES—COntd.

Muskogee
Oklahoma City
Seattle
Spokane
Portland
Los Angeles
San Francisco
Ogden
Salt Lake City

3,132
9,174

7,800
21,422
11,537
5,112
8,995

224
255
301

6,566
19, 524
10,655
4,026
8,078
6,617
2,118
7,221
40,139

2,841
8,451
45, 490

500
1,100
500
500
500
1,000
500
500
2,100

180, 575

751, 580

44, 775

44, 800

616, 188

396, 580

184, 029

774,127

48, 025

46, 333

632, 760

12, 645
3,817
59, 231
14,922
45,107

3,222
1,273
27, 771
6,168
12, 878

18, 317
5,732
104, 227
25, 303
71,135

1,200
500
4,800
1,850
4,450

1,335
421
7,949
2,679
6, 232

14, 757
3,879
86,772
18,416
56,983

2,554
4,333
3,319
1,089
3,951
22, 632
383, 211

Total other reserve cities..
Total all reserve cities

3,499
6,053
2,330
1,068
1,835
3,454
1,172
2,368
9,140

18
103
1,234

COUNTRY BANKS

Maine
Vermont
Massachusetts
Rhode Island
Connecticut
Total New England States.

23

Total Middle
States

12, 800

18, 616

180,807

167, 015
149, 660
225, 638

10, 350
8,330
13, 550

13, 038
12, 226
24, 945

136, 601
121,171
170, 806

154,128

542, 313

32, 230

50, 209

428, 578

6,665
7,195
5,936
4,813
125
3,788
2,479
668
442
8,621

3,100
2,500
2,700
1,500

2,964
2,016

34, 908
35,949
30,149
18, 819
4,371
13,983
26,167
3,580
6,799
34, 655
19, 236
19, 682
16, 535

500
1,400
1,250
500
600
2,800
1,000
1,800
750

1,797
3,119
1,511
423
704
919
1,492
290
380
2,090
1,393
1,495
953

25, 026
25, 815
22, 333
15, 859
3, 013
10, 312
18, 497
2,672
5, 657
27,123
15, 830
14,173
12, 526

153, 821

50, 981

264, 833

20, 400

16, 566

198, 836

36, 602
41, 752
43, 560
51, 805
39,493

13, 520
22,150
14, 255
26, 079
16, 011

4,748
3,620

Total Southern States

224, 714

21, 856
23, 615
17, 522
7,463
3,409
6,761
16, 712
1,760
3,834
17, 663
10, 019
12, 847
10, 360

Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri

51,312
40,173
46,432
67, 523

306, 579

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

135, 722
104, 445
77, 542
124, 592

New York
New Jersey
Pennsylvania

2,606
2,399
3,749

63, 603
80, 390
73, 790
93, 881
68,161
11, 734
10,143
9,006

3,350
5,200
5,700
5,000
4,950
1,200
500
600

5,212
5,036
4,307
6,293
5,343
732
260
241

49, 542
62, 800
59, 546
75, 852
54, 317
9,102
9,078
7,407

100, 769

410,708

26, 500

27,424

327, 644

12, 529
1,092
2,303

21,959
50,629
6,821
8,583

1,600
3,350
700
500

1,072
2,362
214
706

18, 770
43,463
5,270
7,199

20, 210

87, 992

6,150

Western
227, 848

Washington
California
Nevada
Arizona
_

13, 033
27, 406
3,602
3,487

Total Pacific States

47, 528

Total country banks

175

871,498

Total United States

261

1, 268, 078

561, 429 2, 304, 687




146,105

4,354

74, 702

117,169

377,400 1, 530, 560

1, 210, 567

163, 502

1,843, 327

286

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 20.—Principal items of resources and liabilities of national

banks,

classified according to capital stock, December 81, 1929—Continued
CAPITAL STOCK OF $1,000,000 BUT LESS THAN $5,000,000
[In thousands of dollars]
Number of
hanks

Location

Loans and Bonds
discounts, and securities
including
overdrafts owned

Capital

Surplus
and undivided
profits

Total
deposits

CENTRAL RESERVE CITIES

New York.
Chicago

129,190
34, 727

Total central reserve cities.

15

26,149
7,293

214,011
66,232

20,357
5,850

15, 759
2,724

159,032
56,375

163,917

33, 442

280, 243

26, 207

18, 483

215,407

205,173
16,581
393, 678
122,371
131, 049
115, 926

17,122
2,445
46,437
13, 526
9,288
7,675
4,896
550
3,074
7,287
3,113
4,777
301
3,666
334
8,000
2,557
303
4,430
4,811
5,394
1,015
1,859
6,296
6,320
577
1,311
787
2,584
656
1,410
82

40, 069
12, 703

9,150
2,575
17, 515
6,000
6,500
7,650
4,000
1,000
4,500
4,250
2,-800
7,000
1,000
3,500
1,000
8,000
3,200
1,000
5,000
4,500
4,625
1,000
3,000
4,700
7, 250
1,000
1,125
1,000
3,000
1,000
2,000
1,000
5,000
3,500
3,600
2,000
4,000
4,500
5,500
5,000
1,500
5,500
6,000
2,200
1,000

4,360
1,553
2,490
1,478
5,600
2,087
4,039
2,354
603
5,494
6,042
2,956
380

165, 772
10, 561
304,181
92, 711
109, 933
90, 663
46, 587
11,464
67,874
58, 252
38,447
82,136
13, 374
60,189
10, 760
119, 316
29, 795
11,159
67,631
53,250
52,313
10,102
44, 733
72,019
80, 595
15,285
10, 546
20,361
27,468
19,476
33,253
8,091
93, 022
43,404
84, 595
35,374
107,042
64, 550
92, 272
41, 749
23,654
108,498
81,568
33,001
7,830

OTHER RESERVE CITIES

Boston.
Brooklyn and Bronx
Philadelphia
Pittsburgh
Baltimore
Washington
Richmond
Atlanta
Jacksonville
Birmingham
New Orleans
Dallas
El Paso
Fort Worth
Galveston
Houston
San Antonio
Waco
Louisville
Memphis
Nashville
Cincinnati
Cleveland
Columbus
Indianapolis
Chicago
Peoria
Grand Rapids
Milwaukee
Minneapolis
Des Moines
Sioux City
Kansas City, Mo
St. Louis
Omaha
Wichita
Denver
Oklahoma City
Tulsa
Seattle
Spokane
Portland
Los Angeles
Oakland
San Francisco

124, 628
11, 655
238, 752
64, 329
61, 646
37, 695
7,505
31,892
49, 506
31,469
54, 415
8,031
42,109
6,325
77, 905
22, 789
7,218
58,876
37,439
45,644
7,948
30, 680
47, 932
54,176
7,629

__._

Total other reserve cities..
Total all reserve cities

7,155
13,922
20,230
12, 508
21,182
6,217
53,817
33,425
45, 535
18,190
57,052
33,944
64, 307
26, 052
15,453
45, 777
62,093
22, 324
6,189

25, 640
1,885
40,687
23,619
22,811
24, 342
11, 779
1,889
24, 236
9,387
5,037
15, 767
2,874
10,487
3,587
20, 310
4,099
3,747
11, 349
7,260
7,334
3,855
13,494
13,975
14, 774
5,966
3,395
1,996
7,570
4,492
8,613
1,425

17,227
3,974
19, 795
9,344
25, 365
18,464
23,163
9,413
3,949
53, 315
14, 626
8,051
2,232

13, 531
77, 716
77, 291
55, 498
101, 660
15,839
74, 252
13,190
144, 543
37,051
13,453
88, 082
65, 538
69,471
14, 706
55,136
87, 263
101, 287
17,190
14, 388
23, 769
37, 212
23, 290
38, 753
10,162
104, 302
49,844
95, 521
39, 330
. 117,498
74,886
113, 816
51,133
27, 297
124, 096
101,134

101

1,800, 473

566, 599 3, 267, 347

180,140

212, 269

2, 654,856

116

1, 964, 390

609,041 3, .547, 590

206, 347

230, 752

2,870, 263

COUNTRY BANKS

Massachusetts
Rhode Island
Connecticut

60,071
9,994
90,009

Total Eastern States




6,388
1,500
10, 010

10,054
2, 755
16, 219

89,909
12, 594
110, 055

60,165

274,147

17,898

29,028

212, 558

100, 869
174, 730
34, 673
20

112, 206
18, 652
143, 289

160,074

Total New England States.
New York
New Jersey
Pennsylvania

34,230
6,316
19, 619

53,617
53,978
21,879

187, 109
273, 607
66,190

8,937
14,850
5,000

15,187
18,976
11,130

151,943
226, 535
45, 227

310, 272

129, 474

526, 906

28,787

45,293

423, 705

EEPOKT OF THE COMPTROLLER OF THE CURRENCY
TABLE N O . 20.—Principal items of resources and liabilities of national

classified according to capital stock, December 31, 1929—Continued

287
banks,

CAPITAL STOCK OF $1,000,000 BUT LESS THAN $5,000,000—Continued
[In thousands of dollars]
Number of
banks

Location

Loans and Bonds
discounts, and secu- Aggregate
including rities
resources
overdrafts owned

Capital

Surplus
and undivided
profits

Total
deposits

COUNTRY BANKS—continued

Virginia
West Virginia.
North Carolina
South Carolina
Florida
A labama
Louisiana
Texas
Kentucky
Tennessee

7

_ _ _

Total Southern States
Ohio
Indiana _
Illinois
Michigan
Wisconsin
Minnesota
Total Middle
States

Western
-

2
1
2
4
2
3
2
1
4

71,817
22,315
6,483
25,963
24,542
18, 042
37,158
12, 387
9,360
54, 645

13,280
4,039
1,077
8,044
22,044
8,725
4,521
4,792
2,097
8,434

109,633
33,772
10, 596
45, 498
61, 492
37,913
53, 404
22, 525
13, 064
85,162

9,500
3,000
1,000
2,500
4,400
2,000
3,600
2,000
1,000
6,500

7, 517
2,472
984
2,128
4,047
2,465
1,869
1,102
1,000
4,904

78,925
24,371
6,682
37, 452
51, 302
28, 863
44, 391
16, 309
8,779
66, 301

28

282, 712

77, 053

473, 059

35, 500

28, 488

363,375

4
2
1
2
2
2

_

36, 784
30, 587
7,770
20,095
15, 545
25, 317

7,784
8,725
7,293
10, 328
5,573
12, 602

62, 001
49, 550
20,126
37, 333
26, 863
47, 821

5,500
3,000
1,040
2,250
2,000
4,000

3,948
2,188
533
2,985
1,678
3,604

46, 077
38,009
18, 201
29, 627
22, 051
38, 446

13

136, 098

52, 305

243, 694

17,790

14, 936

192, 411

Washington
CaliforniaTotal Pacific States

1
2

9,686
27, 389

4,344
12, 376

17, 591
54, 276

1,000
3,000

717
1,796

14,409
48, 543

3

37, 075

16, 720

71, 867

4,000

2,513

62, 952

The Territory of Hawaii (nonmember banks)__«

1

21,560

8,056

37, 661

3,150

2,381

30, 834

76

947, 791

343, 773

1,627,384

107,125

122, 639

1, 285, 835

192

2,912,181

943, 814

5,174, 924

313, 472

353, 391

4,156, 098

Total country banks___
Total United States

C A P I T A L S T O C K O F $5,000,000 B U T L E S S T H A N $25,000,000
CENTRAL RESERVE CITIES

New York
Chicago--.
__.
Total central reserve cities.

4
2

486, 250
213, 581

372, 710
44, 398

1, 255, 426
379, 666

41,450
21, 500

147, 665
16, 384

916, 550
307, 929

6

699,831

417,108

1, 635, 092

62,950

164, 049

1,224,479

2
1
3
1
1
1
1
1
2
1
2
1
1
1
1
3

242, 261
181, 516
132, 737
59, 285
53, 437
42, 489
38,352
67, 580
200,047
118,638
113, 480
62,154
111,118
44, 745
80,517
205, 729

43, 592
41, 732
155, 251
20, 547
3,681
6,044
6,516
14,107
22,475
11,342
48,360
25,131
32,104
25,117
21,158
58, 583

413, 295
346,112
363, 432
107,102
80, 790
68, 675
61, 632
111,662
297, 322
172,460
220, 676
114, 373
185, 083
93, 060
135, 603
366, 331

28,000
14, 000
19, 500
5,400
5,000
5,000
6,000
5,000
12, 500
10,000
11,000
6,000
12,100
8,000
5,000
24, 500

21, 063
39, 025
28,390
6,670
5,148
4,512
5,763
4,775
19,857
8,882
9,031
5,047
8,608
2,026
10, 776
21,218

297, 342
260,862
288, 753
88, 779
68, 537
51, 721
48, 702
84, 607
239, 536
144, 658
184,029
92, 756
160, 085
78, 311
108, 496
266, 313

OTHER RESERVE CITIES

Boston
Philadelphia
Pittsburgh _ _
Atlanta
_
Savannah
Dallas
Cincinnati
Cleveland
Detroit
- -Milwaukee
Minneapolis
St. Paul
- -.
__
St. Louis
Seattle
Los Angeles
_
San Francisco
Total other reserve cities.__

23

1, 754,085

535, 740

3,137, 608

177, 000

200, 791

2, 463,487

Total all reserve cities

29

2, 453,916

952,848

4, 772, 700

239, 950

364,840

3, 687, 966

COUNTRY BANKS

Pennsylvania
Total United States



1

27, 724

27,919

63, 524

5,000

5,240

52, 269

30

2, 481, 640

980, 767

4, 836, 224

244, 950

370, 080

3, 740, 235

288

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 20.—Principle items of resources and liabilities of national bankst

classified according to capital stock, December 31, 1929—Continued
CAPITAL STOCK OF $25,000,000 BUT LESS THAN $50,000,000
[In thousands of dollars]
Number of
banks

Location

Loans and Bonds
discounts, and secu- Aggregate
including
rities
resources
overdrafts owned

Capital

Surplus
and undivided
profits

Total
deposits

CENTRAL RESERVE CITIES

1
1

Total central reserve cities.

207,535
302,021

53, 731
22,113

438,134
459, 615

35, 775
25,000

38, 653
26,828

306,127
367,567

2

509, 556

75, 844

897, 749

60, 775

65,481

673,694

1
1

New York
Chicago

353,993
346,173

46, 462
125,187

640,303
607,325

43,500
30,000

36,632
21,320

468,995
541,456

OTHER RESERVE CITIES

Boston
Los Angeles - _
Total other reserve cities.._

2

700,166

Total United States

4

1, 209, 722

171, 649 1,247, 628
247,493

2,145,377

73, 500
134,275

57, 952 1,010,451
123,433

1,684,145

266,015

2, 548,572

56,271

891,590

CAPITAL STOCK OF $50,000,000 OR M O R E
CENTRAL RESERVE CITIES

New York

2

1,651,133

495,959

3,506,756

215,000

OTHER RESERVE CITIES

San Francisco
Total United States




1

542,600

3

2,193,733

246, 538 1,042,977
742,497

4,549,733

50, 000
265,000

322, 286 3, 440,162

REPORT OF THE COMPTROLLER OP THE CURRENCY

289

TABLE NO. 21.—United States bonds on deposit to secure circulating notes of national
banks in years ended October 81, 1900 to 1930
United States bonds held as security for circulation
Year

Num-

ber of
banks 2 per cent consols
of 1930

f
$1, 019, 950
1900_._ 3,871 \ Consols of 1930,
1
270, 006, 600
f
12,500
1901..- 4,221 \ Consols of 1930,
(
316, 625, 650

4 per cent bonds

3 per cent b o n d s

Consols of 1907,
< i o KAA 1 0 f t
£
<plo, O^t^t, 1UU

L o a n of 1895,
7, 503, 350
Consols of 1907,
6, 032, 000
L o a n of 1895,
2, 911,100
(Consols of 1907,
1
8, 248, 450
] L o a n of 1895,
I
2, 208, 600
Consols of 1907,
2, 979, 200
L o a n of 1895,
I
1,410,100
[Consols of 1907,
1
5, 857, 500
[
L o a n of 1895,
1, 791, 600
Consols of 1907,
4, 050, 350
i T
-C " o n e
i
*
] L o a n of 1895,
4, 465,000
Consols of 1907,
1
25,124, 650
I L o a n of 1895,
I
4,602,100
/ L o a n of 1895,
\
10, 732,900 }

5 per cent bonds

L o a n of 1898, 3
• p e r cent,
$7, 756, 580

Loan of 1904, 5
per cent,
$1, 293, 000
263, 900

329, 833,930

6,056, 720

1,100, 900

338, 352, 670

1, 797, 580

718, 650

382, 726,830

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

1908... 6,873

554, 700, 700

14,960,450

10,468, 520

1909__. 7,025

573,328,450

4 p e r c e n t loan
of 1925,
15,463,050

3 per cent 19081918,
14,575, 560

1910__.
1911___
1912__.
1913
1914___
1915__.
1916___
1917__.
1918__.
1919
1920 . . .
1921._
1922_
1923._.
1924
1925
1926___
1927
1928
1929__.
1930.-.

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
592, 696, 700
592,721,100
594,757,350

21,022, 650
22,854, 300
26,817, 000
35,302, 700
34, 699, 300
32, 304, 800
26, 214,400
34, 743, 900
50, 240, 800
58,055, 050
68, 578, 000
77, 257, 400
82, 509,900
85,823,150
76, 687, 050

15, 337, 540
18,199, 380
20,419, 220
22, 245,100
21, 447,180
20, 377, 720
15,984, 680
17, 715, 220
32, 240




$301,123, 580

3,983, 780

1902_._ 4,601

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
7,707
7,506
7,218

Total

]

1, 922,940

426, 544, 790

2, 215, 540

493, 912, 790

(2 per cent Pana3, 273, 700 \ ma Canal,
14,482,080

539,653,180

6,490,080

17, 245,380
567,011,910
f
38, 558, 680
1
13,936, 500
632, 624, 850
\ Certificates of indebtedness 3 per
cent.
2 per cent 1936 |
and 1938, Pan> o/y, o4o, 74U
ama Canal,
76,178, 680
78, 420, 480
694, 926, 070
80,110, 040
714,170, 320
81, 258, 460
730, 257, 280
81, 701, 240
743, 513, 990
81,971, 820
744, 740,600
81, 614,420
734, 975, 540
78,068, 660
687,957,990
71,466,140
679,440, 210
72,324, 800
684, 446,440
72, 672, 060
695,822, 060
73,116, 000
712,066, 500
73, 732, 140
727, 512,490
73,656, 840
737, 660, 690
73,937, 380
746, 562, 330
74,069, 640
739,842, 890
74, 392, 980
666,185,130
74,352, 980
665, 492, 880
74, 290, 840
666,873, 290
74,471, 740
667,168, 440
74,015,000
666,736,100
74,371,100
669,128, 450

J

TABLE NO. 22.—-Profit on national bank circulation, based upon a deposit of $100,000 United States consols of 1980 and Panama Canal bonds,
at the average net price, monthly, during the year ended October 81, 1980
CONSOLS O F 1930

Eeceipts
Date

November
December
January
February
March
April
May
June
July
August
September
October

Cost of
bonds

Circulation obtainable

Profit on circulation
in excess of 6 per
cent on the investment

Deductions

Interest
on circuInterest lation
Gross
less 5
on bonds per cent receipts
redemption fund

Net
receipts

rax

Expenses

Sinking
fund

Interest on
cost of
bonds at 6
per cent
Amount

Total

Per cent

1929
$102. 382
103.000

$100,000
100,000

$2,000
2,000

$5,700
5,700

$7,700
7,700

$500
500

$62. 50
62.50

103.442
103. 205
103. 014
102. 766
102. 575
102. 555
102. 375
102. 425
102. 640
102. 894

100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000

2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000

5,700
5,700
5,700
5,700
5,700
5,700
5,700
5,700
5,700
5,700

7,700
7,700
7,700
7,700
7,700
7,700
7,700
7,700
7,700
7,700

500
500
500
500
500
500
500
500
500
500

62.50
62.50
62. 50
62.50
62.50
62.50
62.50
62.50
62.50
62.50

$6,142.92
6,180.00

1930

•„

Indeterminate; date of maturity
unknown.

6,206.52
6,192. 30 Indeterminate;
6,180. 84
dependent upon
6,165. 96
annual sinking
6,154. 50
fund.
6,153. 30
6,142. 50
6,145. 50
6,158. 40
6,173. 64

O

PANAMA CANAL 2'S, 1916-1936
November
December
January
February
March
April
May
June
July.
August
September
October

1929

$102.338
102. 750

$100,000
100,000

$2,000
2,000

$5, 700
5,700

$7, 700
7,700

$500
500

$62. 50
62.50

$291. 02
372.12

$853. 52
934. 62

103.192
102. 989
102. 702
102. 500
102. 365
102. 465
102. 340
102. 300
102. 575
102. 697

100,000
100,000
100,000
100,000
100,000
100,000
100,000
100, 000
100, 000
100, 000

2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000

5,700
5,700
5,700
5,700
5,700
5,700
5,700
5,700
5,700
5,700

7,700
7,700
7,700
7,700
7,700
7,700
7,700
7,700
7,700
7,700

500
500
500
500
500
500
500
500
500
500

62.50
62.50
62.50
62.50
62.50
62.50
62.50
62.50
62.50
62.50

433. 53
409. 97
391. 69
365.11
345. 37
348. 26
329.06
341. 58
378.13
421. 58

996.03
972. 47
954.19
927. 61
907. 87
910. 76
891. 56
904.08
940. 63
984. 08

$6, 846. 48 $6,140. 28
6, 765. 38 6,165. 00

$706.20
600.38

0.690
.584

510.45
548.19
583.69
622. 39
650.23
641. 39
668.04
557. 92
604.87
554.10

.495
.532
.568
.607
.635
.626
.653
.545
.590
.540

1930




6, 703.97
6, 727. 53
6, 745. 81
6, 772. 39
6, 792.13
6, 789. 24
6,808.44
6, 795. 92
6, 759. 37
6,715.92

6,191. 52
6,179. 34
6,162.12
6,150. 00
6,141. 90
6,147. 90
6.140. 40
6,138. 00
6,154. 50
6,161.82

3
a
4

291

HEPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 23.—Investment value of United States bonds—Panama Canal bonds
and 2's of 1930
Panama Canal bonds,

2 per cent bonds of 1930

2's of 1916-1936

Date

Average
price, net

1930
January
April
July
October

103,1923
102.5000
102. 3400
102. 6971

Eate of interest realized by investors

Average
price, net

Per cent
1.487
1.582
1. 593
1.513

103.4423
102. 7656
102. 3750
102. 8942

Rate of interest
realized by
investors

Negative yield.
Indeterminate.
Do.
Do.

TABLE N O . 24.—United States bonds (circulation)—Monthly range of prices in
New York, November, 1929, to October, 1980, inclusive
Coupon
bonds
2's of 1930

Date

2's of 1930

Panama 2's
of 1916-1936

1929

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.-..
August:
Opening
Highest
Lowest
Closing
September:
Opening
Highest
Lowest
Closing
October:
Opening
Highest
Lowest
Closing

Registered bonds

Not quoted-..
do
do
do
_-

102
1011/
102

_do_
..do.
_do_
_do_
_do.
_do.
_do_.

193

102
102
102
102
102
1021/
102

103Vi
103^

°

.do-

103
103

_do_.
_do.
_do_.
_do_.
_do_.
_do_.
_do_.
do

.--

103}4
104

10214@103
—-

102|4@103

_do_.
-do_.
_do_.
-do..

102H@103
102 @102%
1O2J4@1O3

_do_.
_do-.
-do..
_do-

102
102
102

103
102%
103

102H@103
102J4@103
102 @l€2-%
102 @102%

_do-.
_do_dodo

102
102
102
102

@103
@103
@102%
©102%

_do_do_.
_do-do..

102
102
102
102

@102%
@102%
@102^
@102^

_do_.
_do_.
_do_.
-do_.

102
102
102
102

@102^
@10234
@102H
@102%

_do_.
_do_.
_do_do_.

102 @102%
10234@103
102 ©102H
102H@103

_do_.
_do_.
_do-.
-do-

02}4@
102H@103
102^@103

102^ @ 103
_




102 @102%
102 @102%

292

KEPOKT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 25.—Number, capital stocky and circulation outstanding of national
banks issuing circulating notes, together with the number and capital stock of
national banks not issuing circulating notes, June 30, 1930, by reserve cities and
States
[In thousands of dollars]
June 30, 1930

Location

Banks issuing circulation
Number
of banks

Capital

Circulation outstanding

Banks not issuing
circulation
Number
of banks

Capital

CENTRAL RESERVE CITIES

New York..
Chicago

346,082
11,000

Total central reserve cities..

10,500
43,750

357,082

40,991

54,250

11,857
4,950
550
32, 236
24,850
7,000
10,075
1,000
1,800
6,400

3,445
875
550
5,079
14,559
3,154
4,905
1,000
1,445
2,491

71,000
1,700
200
4,815
3,600
400
700
3,000

6,000
4,250
2,800
12, 650
1,300
2,700
1,400
5,900
2,950
1,650
5,500
4,500
5,225
7,900
7,000
4,700

500
7,650
4,900
3,150
7,500
1,500
13, 200
12,700
6,500
1,100
2,500
700
2,050
2,800
900
13, 650
300
3,100
950
850

560
4,150
2,800
5,540
795
2,009
1,335
4,587
2,731
1,630
4,000
350
3,852
2,067
2,928
1,816
495
3,827
2,666
2,793
3,432
1,400
4,766
2,851
588
997
305
250
1,068
678
337
1,845
200
1,150
800
500

450
1,050
600

19

34,791
6,200

200
650
399

OTHER RESERVE CITIES

Boston
Brooklyn and Bronx
Buffalo
Philadelphia
Pittsburgh
Baltimore:
Washington
Richmond
Charlotte
Atlanta
Savannah
Jacksonville
Birmingham
New Orleans
Dallas
El Paso
Fort Worth
Galveston
Houston
Sari Antonio
Waco
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
Oklahoma City
Tulsa_._
Seattle
Spokane
Portland
Los Angeles
_
Oakland...
San Francisco
Ogden
Salt Lake City
Total other reserve cities _
Total all
 reserve cities


5,600

300
1,750
750
3,500
2,000

600
500
200
3,150
5,000
500
350
"250

5,500
200
3,400
1, 250
1,900
1
4
4

4,250

6

7,300

3

800

1
4

200
6,500

1

625

500
2,400

5,950
13,000
2,000
6,875
35, 500
2,200
75,, 500
500
1,600

544
4,657
1,984
2,930
3,958
1,500
23,212
497
1,524

214

408, 868

151, 656

90

145,190

233

765, 950

192, 647

103

199, 440

1

500

293

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 25.—Number, capital stock, and circulation outstanding of national
banks issuing circulating notes, together with the number and capital stock of
national banks not issuing circulating notes, June 80, 1980, by reserve cities and
States—Continued
[In thousands of dollars]
June 30, 1930
Banks issuing circulation

Location
Number
of banks

Capital

Banks not issuing
circulation

Circulation out- Number
standing of banks

Capital

COUNTRY BANKS

322

Ohio
_
Indiana _ __
Illinois
Michigan
Wisconsin ____ ____ _
Minnesota
Iowa
_
Missouri
___Total Middle Western States

.
.

-

.

45

10,089

54,067
43, 245
93, 671
1,623
5,257

32, 781
23, 591
63,021
899
3,733

112
93
58
1
3

17,960
13, 365
5,915
25
452

197,863

124,025

267

37, 717

140
106
47
24
63
31
90
27
24
368
52
119
90

23,479
13, 515
8,585
4,725
6,655
5,610
11,485
4,525
6,100
32, 715
4,900
12, 583
13,999

15
5
12
11
8
21
9
8
6
192
15
11
2

1,840
375
1,090
1,100
740
4,175
2, 535
945
225
11,013
1,190
750
85

148, 876

18, 367
10,153
5,548
3,406
5,186
3,564
9,491
2,990
3,310
22, 858
3,772
11,105
11,671
111,421

315

26, 063

36,915
23, 488
33,155
17,120
17,170
16, 290
12,455
7,915

1,583

Total Eastern States

64, 524

282
191
371
113
131
206
197
92

___

4,824
4,798
4,270
15, 973
3,309
10,161
43, 335

1,181

_
_

_

Virginia
West Virginia
North Carolina
South Carolina
Georgia _
___
Florida
Alabama
Mississippi
Louisiana
_
Texas
_ _ ___ __„
Arkansas
Kentucky.
Tennessee
Total Southern States

Washington
Oregon
California
Idaho
Utah
Nevada
.. _
Arizona
Total Pacific States

7,070
5,450
5,035
24, 601
4,020
18, 348

1,450

New York
New Jersey __
__ _
Pennsylvania._ __
__.:
Delaware
Maryland

North Dakota
South Dakota.. __
Nebraska
Kansas
__
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Total Western States

49
53
43
116
9
52

411
204
752
15
68

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

86
59
124
186
31
22
74
18
166

3
3
2
26
1
10

300
275
125
5, 825
500
3,064

__

_ _
... . . _ _ _ _ .

...

.

_ _

__

..

.

Alaska (nonmember banks) __
The Territory of Hawaii (nonmember bank)
Total (nonmember banks)

.

14
15
50
8
19
49
32
14

950
2,195
5,935
470
2, 775
2, 645
2,415
860

164, 508

201

18, 245

3,985
2,915
6,890
10, 637
3,110
1,915
4,425
1,525
8,785

2,899
1,899
5,487
8,186
2,051
1,482
3,306
1,354
5,731

26
36
37
49
30
3
38
8
102

1,510
1,870
1,415
2,240
1,425
355
2,275
385
4,435

766

_

._

27, 313
19, 632
24, 342
12, 950
11,866
10, 508
10,018
5,863
122, 492

44,187

32, 395

329

15,910

57
63
127
24
10
9
10

7,870
5,055
16,910
1,935
550
1,460
1,625
35,405

40
24
63
17
3
1
4
152

2,430
1,365
6,722
740
1,50
40
325

300

5,032
2,831
10,615
1, 423
468
1,194
1,220
22, 783

11,772

91
3,150
3,241

1

50

3
1
4

225
3,150
3,375

1

50

Total country banks. _

5,606

658, 738

459, 692

1,310

119,846

Total United States

5,839 1,424, 688

652, 339

1,413

319, 288




TABLE NO. 26.—National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October SI, each year 1920 to 1930
[For prior years see annual report 1920]

Year

1920..
1921..
1922..
1923..
1924..
1925..
1926..
1927..
1928.

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...
OLD

Twos

23,169,677

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
15, 495,038
15, 332,144
162, 894

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
23,169, 677
22, 828, 230
341,447

Fives

Tens

Twenties

Fifties

2, 383, 521,060 3, 863,905, 000 2.256, 235,520 321,370,450
2, 257,861,600 3,558,475,410 2,012,790,440 291, 508,450
125, 659,460
305,429, 590
243,445,080 29,862,000
2, 530,964, 740 4,141, 546,970 2,415, 643, 670 332,564,950
2, 399,196, 590 3,826,073, 620 2,173,273,160 304,103,200
242,370,510 28,461,750
131,768,150
315,473,350
2, 685,116,700 4, 395,016,970 2, 561, 245,350 342, 216,050
2, 544,935, 255 4,072,078,350 2,312,253, 700 315,487,700
140,181,445
322,938, 620
248,991,650 26,728,350
2,839,923, 800 4, 647,494,460 2, 705,631, 630 353,112,650
2,692,170,185 4,323,779,650 2,456,824, 520 325,072, 850
147,753, 615
323,714,810
248, 807,110 28,039, 800
2,986,182,620 4,894,019, 390 2, 847,074,790 362, 802,750
2, 836, 525,360 4, 568, 745,090 2,599,117.260 335, 219, 000
149, 657, 260 325, 274,300
247,957, 530 27, 583, 750
3,116,207, 920 5,114, 836, 580 2, 975, 540, 250 370,484, 550
2, 982,116,315 4,815,862,380 2, 743,128,860 345, 017, 800
134,091,605
298, 974, 200 232, 411,390 25,466,750
3, 257, 207,400 5,340,485,100 3,105, 239, 610 378,354, 750
3,116,801, 545 5,049,077, 890 2,880, 562, 880 354,890,850
140, 405, 855 291, 407, 210 224,676, 730 23, 463,900
3,400,781,360 5, 561,933,120 3, 229,043,170 388, 738,350
3, 255,076,040 5, 275, 212, 710 3, 003, 520, 200 363, 835, 500
145, 705,320
225, 522, 970 24,902, 850
286, 720,410
3, 555, 675, 560 5, 797,444, 520 3, 363,413,040 399,609,450
3, 405,149, 520 5, 516,163, 930 3,139, 679, 780 374, 357,700
150, 526,040
281, 280, 590 223, 733, 260 25, 251, 750

One
hundreds

Five
hundreds

One thousands

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
494, 877, 700
471,314,100
23, 563,600

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
12, 289,500
12, 202,000
87, 500

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

Total

9,325, 707,345
8, 590,154,821
735, 552, 524
9, 929, 009,045
9,181,460, 551
747, 548,494
10,498, 453,185
9, 732,302, 886
766,150, 299
11,068,309, 255
10,292,084,386
776,224,869
11, 618, 808,165
10,840,981,084
777,827,081
12,110,919,115
11,394, 374,829
716, 544, 286
12, 620,383,475
11,916, 714, 539
703,668,936
13,126,515,015
12,419, 560,424
706,954, 591
13, 669,428,485
12,964,460,404
704,968,081

Issued during current
year
456,046,770
603,301,700
>9, 444,140
569, 856,070
550, 498,910
492,110,950
509,464,360
506,131, 540
"542,~9l3,~476

SERIES

1929-.- Issued
Redeemed
Outstanding

23,169, 677 15,495, 038 3, 671,900,460 5, 973,600,340 3,464,377,800 410,619, 750 502, 217,900 12, 289, 500 7, 445, 000 14,081,124,465 411,695,!
22, 828,771 15,332,490 3, 552, 259,160 5, 738,693,680 3, 270,181, 590 385,120,800 478, 588, 000 12, 202,000 7, 433, 000 13,482, 639, 491
598, 484,974
340,906
87,500
234,906,660
194,196, 210 25,498,950 23,629,900
21,000
162, 548
119, 641,300

N E W SERIES

1929

Issued
Redeemed. __
Outstanding .




35,161,935
1,630
35,160,305

49,772,020
560
49,771,460

1,496,450
18,571,160
1,000
18,571,160 | 1,495,450

875, 700
1,000
874, 700

105,877, 265 105,877,265
4,190
105,873, 075

OLD SERIES
1930-...

Issued
Redeemed
Outstanding

23,169, 677
22, 828, 771
340, 906

15, 495, 038
15,332, 490
162, 548

3,671,919,360
3, 653, 245,865
18, 673, 495

5.973, 628, 480
5, 930, 827, 205
42, 801, 275

3, 464, 395, 520
3, 416,195, 850
48,199, 670

410, 619, 750
402, 050, 200
8, 569, 550

502, 217,900
492,148,100
10, 069, 800

229, 529, 910
89, 668, 975
139, 860, 935

348. 054, 240
91, 760, 420
256, 293, 820

179, 673, 000
25, 263, 040
154, 409, 960

20, 756, 800
1. 823, 550
18, 933, 250

11,307,400
433, 700
10, 873, 700

12.289, 500
12, 202,000
87, 500

7, 454,000
7, 433,000
21, 000

14 081,1S9, 225
13 952, 263. 481
128, 925, 744

64, 760

NEW SERIES
o 1930..

Issued
Redeemed
Outstanding.

N O T E 1.—First issue D e c . 21, 1863; first r e d e m p t i o n A p r . 5,1865.




N O T E 2.—Gold notes i n c l u d e d since 1915.

789, 321, 350 683, 444,085
208, 949, 6S5
580, 371, 665

N O T E 3.—Fractions a n d n o n a s s o r t e d notes n o t i n c l u d e d .

o
o

B

Or

296

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 27.—National-bank currency issued to banks monthly from November 1,
1929, to October 31, 1930, and since 1863
Issued on
account of
redemptions
1929

November
December

$72, 097, 855
110,590,770

1930

January
February
March
April
May__
June
July
August
September
October

118,982,450
48,180,130
38, 789, 830
34,064, 210
35,007,300
36, 618, 550
32, 518,410
38, 706, 560
36, 092, 810
50, 510, 700

Total

Issued on
bonds

Grand total
issued since
1863

Total issued

$1,957,630 $74, 055,485
2, 304, 630 112,895, 400
2, 783, 670
2, 837,920
2, 209, 840
3, 281,040
2, 609,650
3,041,960
1,981,470
2,426,710
2, 519,980
3, 394, 770

652,159, 575 31,349, 270

$14, 261,057,435
14, 373, 952, 835

121, 766,120
51,018, 050
40,999, 670
37,345, 250
37,616,950
39,660, 510
34,499, 880
41,133, 270
38, 612, 790
53, 905, 470

14, 495, 718,955
14, 546,737,005
14, 587,736, 675
14, 625, 081,925
14,662, 698,875
14,702, 359, 385
14, 736,859, 265
14, 777,992, 535
14,816,605,325
14, 870, 510, 795

683, 508, 845

TABLE NO. 28.—National-bank notes received monthly for redemption during year
ended October 31, 1930 1
Received by the Comptroller of the Currency

Month

November.
December..

January
February..
March
April
May
June
July
August
September _
October

From the redemption agency
From national
banks in connection with
reduction of
circulation
Retirement
and replace- For replacement
with new notes
account
ment with
new notes

Total

1929
$1,780. 00
18, 650. 00

$69,424,950.00
111, 492,300.00

$3,376, 525.00
5,024,315.00

$72, 803, 255. 00
116, 535, 265.00

60.00

870.00
120.00

117,852,780.00
48,420, 575.00
38,982,410.00
34,057, 740.00
35,071, 640.00
36,846, 340.00
34,245,240.00
37,801, 170.00
35, 548, 997. 50
50, 539, 940. 00

5,271,070.00
2,583,120.00
2,439,240.00
2,261,570.00
2,051, 330.00
2,147,190.00
2,018, 680.00
2,062,360.00
1,617, 760.00
2,477,840.00

123,123,910.00
51,003, 695.00
41,423, 327. 50
36,319,310.00
37,164,300.00
38,995,720. 00
36,263,920. 00
39,863, 530.00
37,167, 627. 50
53,017,900.00

66,677. 50

1930

Total.
Received from June 20, 1874, to
Oct. 31,1929

Grand total.

1,677. 50
41, 330. 00
2,190. 00

650,283,082. 50

33T 331, 000.00

683,680,760. 00

58,871,940. 00 11,496,622, 375. 00

1,767,969,602.00

13,323,463,917.00

58,938, 617. 50 12,146,905,457. 50

1, 801, 300, 602. 00

14, 007,144, 677. 00

i Notes of gold banks not included in this table.




297

KEPORT OF THE COMPTROLLER OF THE CURRENCY
TABLE

N O . 29.—National-bank notes received at currency bureau and destroyed
yearly since establishment of the system

Amount

Date
Prior to N o v . 1, 1865..
D u r i n g t h e 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
1900
1901

$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
71,065,968
90, 848,100

Amount

Date
During t h e year ended Oct. 31—Con.
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
1928
1929
1930
Total
Additional amount of insolvent and
liquidating national-bank notes
destroyed
Gold notes
_

$107, 222,495
140, 306, 990
167,118,135
195,194, 785
191,102, 985
197,932, 847
231,128,140
326, 622, 845
359, 496, 000
409,835,965
428, 399, 608
426, 282, 840
435, 904, 280
362, 551,125
351,374, 597
298,468,107
236, 296, 660
330,106, 555
424, 542,837
570,887,902
537,153, 570
542,194, 707
522, 241, 817
470, 950, 865
487, 254, 340
475,920, 522
517, 236, 465
492,160, 200
645,640,640
12,832,803,607
1,324,910,322
3, 390, 560
14,161,104,489

Grand total

In addition, $46,115 destroyed in transit.
TABLE N O . 30.—National-bank notes issued during each year 1914 to 1980, national-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.
1928
19291
1930 1

Active b a n k s

Insolvent
a n d liquidated b a n k s

$818, 227, 830 $435, 904, 280
362, 551,125
364, 049, 710
351, 374, 597
356, 300, 750
298, 468,107
325, 570, 430
236, 296, 660
260,155,140
330,106, 555
356, 738,100
424, 542, 837
456, 046, 770
603,301,700
570, 887,902
537,153, 570
569,444,140
569,856, 070
542,194, 707
550,498, 910
522, 241, 817
492,110, 950 470, 950, 865
509, 464, 360
487, 254, 340
506,131, 540
475, 920, 523
542, 913, 470
517, 236, 465
517, 573, 245
492,160, 200
683, 508, 845
645, 641, 640

$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
27, 663, 505
26, 022, 684
32, 927, 840

i New series included.




Total outstanding
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
544, 899, 970
518,182, 884
678, 569,480

$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
700,152,454
700, 328, 815
700,155, 900

Per cent
destruc- Percent
tions, destrucactive tions to
banks to issues
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
95.27
95.08
94.45

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
100. 36
100.11
99.27

298

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 31.—Amount, denomination, and cost of national bank currency
received from Bureau of Engraving and Printing, year ended October 81, 1980
NEW

S T Y L E , 6-SUBJECT S H E E T , S E R I E S OF 1929
printCost of paper Cost ofetc.
ing,

Amount

Denominations

Total cost

$169, 568,100
212, 520, 000
125,808, 960
17,076, 000
13, 268, 400

$42,194. 20
26,441. 03
7,826. 37
424. 90
165. 08

$241, 210. 63
151,154. 85
44, 740. 81
2, 429. 06
943. 71

$283, 404. 83
177, 595. 88
52, 567.18
2,853. 96
1,108. 79

538, 241, 460

K

10
20
50
100

77,051. 58

440, 479. 06

517, 530. 64

Total

TABLE NO. 32.—Vault account of currency received and issued by currency bureau
during the year and the amount on hand October 81, 1980
OLD SERIES

National bank currency in vaults at the close of business, Oct. 31, 1929
$19, 251,300
National bank currency received from Bureau of Engraving and Printing during the year
ended Oct. 31, 1930
_
0
Total to be accounted for
Amount issued to banks during the year
Amount withdrawn from vaults and canceled

'.

$64,760
19,166, 610

Total withdrawn

19,251,300
19,231,370

Amount in vaults at close of business Oct. 31, 1930

19,930

NEW SERIES OF 1929

National bank currency in vaults at the close of business, Oct. 31, 1929
__ 400, 982, 695
National bank currency received from Bureau of Engraving and Printing during the year
ended Oct. 31, 1930
538,241,460
Total to be accounted for
Amount issued to banks during the year
Amount withdrawn from vaults and canceled

$683,444,085
17, 798,330

Total withdrawn
Amount in vaults at close of business Oct. 31, 1930
Add "Old series"
Total amount in vaults

939, 224,155
701,242,415

__"_!.I

237 981 740
' 19,930
238,001, 670

TABLE N O . 33.—Vault account of currency received and destroyed during year
ended October 81, 1980
Amount in vault of redemption division of currency bureau awaiting destruction at close of
business Oct. 31, 1929
_
___
$4,090 790 00
Amount received during year ended Oct. 31, 1930
~_
ZZZZZZZZ 683', 680- 76o! 00
. ^Tota1---^
V—
Withdrawn and destroyed during year
Balance on hand in vault Oct. 31, 1930
NOTE.—Notes of gold banks not included in this table.
w




687,771,550.00
678,568,480.00
9,203,070.00

KEPOET OF THE COMPTROLLER OF THE CURRENCY

299

TABLE N O . 34.—Amount of currency received for redemption, by months, from July
1, 1929, to June 30, 1930, and counted into the cash of the National Bank
Redemption Agency
National-bank
notes

Federal
reserve bank Federal reserve
notes
notes

United

States
currency

Total

1929
$65, 466, 209. 00
68,118, 058. 00
42, 707, 089. 00
37, 242, 553. 00
93, 603, 778. 00
115, 016, 956. 00

July
August
September
October
November
December
January..
February._
March
April
May
June

1930
_.

Total

109,
43,
41,
37,
38,
37,

543,
728,
434,
649,
723,
368,

434.
566.
934.
723.
288.
594.

00
00
00
00
00
00

730, 603,182. 00

$27, 621. 00
45, 593. 00
33, 230. 00
34,541. 00
29,339. 00
35, 657. 00

$1, 783, 535. 00
1, 539. 630. 00
1, 274, 030. 00
1, 776, 730. 00
1. 579, 430. 00
2,184,125. 00

$10, 991. 63
25, 779. 08
9, 574. 58
24, 407. 49
12, 041. 50
5, 864. 00

$67, 288, 356. 63
69, 729, 060. 08
44, 023, 923. 58
39, 078, 231. 49
95, 224, 588. 50
117, 242, 602. 00

45,135. 00
32, 707. 00
47, 718. 00
23, 738. 00
24, 621. 00
35, 200. 00

1, 948, 270. 00
1,118, 235. 00
1, 283, 680. 00
1, 443, 835. 00
1, 428,190. 00
1, 399, 180. 00

26, 513. 38
21, 655. 38
42, 269. 78
82, 621. 00
38, 802. 50
20, 929. 13

111, 563, 352. 38
44, 901,163. 38
42, 808, 601. 78
39,199, 917. 00
40, 214, 901. 50
38, 823, 903.13

415,100. 00

18, 758, 870. 00

321, 449. 45

750, 098, 601.45

TABLE N O . 35.—Amount of currency received by National Bank Redemption
Agency for redeniption in year ended June 30, 1930, from principal cities
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis

$49,084,239.00
105,088,400.00
59,245,110.00
36,044,090.00
31,028,600.00
18,750,250.00
88,755,442.50
24,142,965.50
22,916,200.00

Kansas City
Dallas
San Francisco
Cincinnati
Baltimore
New Orleans
Other sources

$15,710,000.00
22,200,900.00
23.015,250.00
14,783,300.00
14, 503, 700. 00
10,756,420.00
214,106,553.77

Total

750,131,420.77

NOTE.—The difference of $32,819.32 between the totals shown by this table and Table No. 34 represents
the net adjustments for overs, shorts, and spurious issues found in remittances received.
The total amount of currency of all issues received by the National Bank Redemption Agency and
counted into cash from June 30, 1874, to June 30, 1930, exclusive of deductions for shortages and spurious issues, is $18,817,959, 796.46.
TABLE N O . 36.—Cost of redemption of national-bank
June 30, 1930

notes during the year ended
Amount of expenses

Office Treasurer Office CompU. S.
troller of
(N. B. R. A.)
Currency
Redeemed out of 5 per cent fund, unfit for use:
Salaries
Printing, binding, and stationery.
_
_
Contingent expenses
Express charges
Insurance _
_Postage..
_
Total
Redeemed on retirement account:
Salaries
Printing, binding, and stationery.
Contingent expenses
Express charges
__
. . .
Insurance
Postage..

$365,157. 36
9, 531. 50
16, 256. 86
5.12
27, 359. 69
16, 512. 20

--. . . .

Aggregate-

_

27, 722. 22
85,158. 01

$427, 588. 09
13,991. 20
17, 643. 64
5.12
55, 081. 91
101, 670. 21

181,157. 44

615,980.17

19, 376. 62
505. 78
862. 65
.27
1, 451. 81
876. 20

3, 312. 81
236. 65
73.58

22, 689. 43
742. 43
936. 23
.27
1,451.81
876. 20

23, 073. 33

...

$62, 430. 73
4, 459. 70
1, 386. 78

434, 822. 73

Total

3, 623. 04

26, 696. 37

457, 896. 06

184, 780. 48

Amount
redeemed
Redeemed out of 5 per cent fund, unfit for use, .
Redeemed on retirement account...
Total




Total

_.

R a t e per
$1,000

$693, 983, 535. 00
36, 825, 374. 50

$0. 88760055
. 72494506
.87940435

730, 808, 909. 50

642, 676. 54

Amount of
expenses
$615,980.17
26, 696. 37
642. 676. 54

300

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE NO. 37.—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, year ended June 30, 1930
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, 300.13
33.94
57.88
1, 391. 95

72,652. 28
532.44
3, 273. 57

72, 652. 28
o32. 44
3, 273. 57
76,458. 29

199.42
5.20
8.88
12.93
113.46

Total amounts assessed against Federal reserve issues
Amount in
dollars

$17,772,010

$34.69
.05
.77

339. 89

Total




$1,300.13
33.94
57.88

76,458. 29

Total.
Federal reserve bank notes:
Received from all sourcesSalaries
Printing, binding, and stationery..
Contingent expenses
Insurance
Postage

Total

Total

1, 391.95

Total..
Received direct from Federal reserve banks and branches, canceled and c u t Salaries
Printing, binding, and stationery
Contingent expenses

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

Office
Comptroller of
Currency

35.51

375.40

78,190.13

35. 51

78, 225. 64

Number of Rate per Assessment
notes
1,000 notes

1,638,893 $0. 84932536

2,621,760,100 245,775, 532
451,089

234.11
5.25
9.65
12.93
113. 46

.31108991

$1,391.95
76,458.29

251,373

1.49339825

375.40

2,639,983,199 247,665, 798

. 31585160

78, 225.64

REPORT OF THE COMPTROLLER OF THE CURRENCY

301

TABLE N O . 38.—Taxes assessed on national-bank circulation, years ended June 80,
1864 to 1930; cost of redemptiont 1874 to 1930; and assessments for cost of plates,
etc., 1883 to 1930

Year

1864-1882.
1874-1882.
1884..
1885..
1886..
1887..
1888..
1889..
1890..
1891..
1892..
1893..
1894..
1895..
1896..
1897..
1898..
1899..
1900..
1901..
1902..
1903..
19041905..
1906..
1907..
1908..
1909..
1910..
1911..
1912..
1913..
1914..
1915..
1916..
1917..
1918..
1919..
1920..
1921..
1922..
1923-.
1924..
1925..
1926..
1927..
1928..
1929..
1930-.

Semiannual
duty on
circulation

Cost of
redemption
of notes by
the United
States
Treasurer

ment for
cost of
plates,
new
banks 1

Assess- ment for
ment for cost of
plates,
cost of
addiplates,
tional
extended
or dubanks

plicate

ment for
adding
signatures
to plates,
etc. 1

$52,253,518. 24

$1,971,587.10
147,592. 27
3,132,006. 73
160,896. 65
3,024, 668. 24
181,857.16
2, 794, 584. 01
168, 243. 35
2,592,021. 33
138,967.00
2,044,922. 75
141,141.48
1, 616,127. 53
131,190. 67
1,410, 331.84
107,843. 39
1, 254,839. 65
99,366. 52
1, 216,104. 72
100, 593. 70
1, 331, 287. 26
103,032.96
1,443,489. 69
107,445.14
1, 721,095.18
100,352. 79
1, 704,007.69
114,085. 63
1,851, 676.03
125,061. 73
2, 020, 703. 65
125,924. 35
1,901,817.71
121,291.40
1,991, 743. 31
122,984. 76
1,881,922. 73
146, 236.18
1, 599, 221.08
153, 796. 33
1,633, 309.15
174,477.62
1, 708, 819.92
219, 093.13
1,928,827. 49
247,973. 26
2,163,882. 05
250,924.24
2, 509,997. 80
233, 650. 52
2,806, 070. 54
270,840. 21
3,090, 811. 72
396, 743.15
3,190, 543. 04
3,463,466.68
434.093.10
3,567, 037. 21
443, 380.12
3,690, 313.53
505, 735. 21
517,842.93
3, 804, 762. 29
529,013.36
3,889,733.17
/ 2 3,901,541.18 I 498,328.60
1 2,977,066.73 450,150.22
3, 744,967.77
420.160.42
3,533, 631. 28
412,785.92
3,656,895. 34
528,424.24
3,627,060.80
974.058.11
3, 706,901.15
1,115,146.00
3,806, 590. 02
594,168.70
3,941,461.17
514, 598. 55
4, 030, 336. 30
527.979.90
4,063,708.32
459.790.43
3,661,819. 45
494.470.91
3,277, 512.90
467,411.42
3,253,461.97
465,080.16
3,234, 240. 29
3,441,152.95
461,375.92
3, 248,327.85
642,676.54

T o t a l - . . 187,340,339.43
1

17,819,863.45

$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

$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

16,660
10,085
9,200
16,770
15,600
31,850
31,070
18,244
23,464
18,756
12,682
22,948
22,618
20,890
15,792
3,930
2,286

13,855
9,700
6,000
11,120
15,340
28,990
82,160
52,780
5,850
3,556
4,456

1,176,815

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
37,924
21, 728
17,914 '
'
275,000

$493. 00
841.00
773.00
591.00
1, 610.00
1,110.00
1, 229. 89
1,322.30
54.00
8, 280. 00
16,304.19

Total

$52, 253,518.24
1,971,587.10
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
4,600, 351.85
4,646,161. 22
4,143, 742.88
3,827,105.81
3, 782,525.39
3, 743,168.34

} 3,941,541.17
3,901, 570.39
207,391,919.07

Beginning in the latter part of 1929 amounts in this column concern logotypes incident to reduced size
notes, Series of 1929.
2
Tax collected on additional circulation under act May 30,1908.
NOTE.—Average cost per $1,000 for national-bank notes redeemed in 1925, $0.83; in 1926, $0.94; in 1927.
$0.93; in 1928, $0.86; in 1929, $0.95, and in 1930, $0.88.




302

REPORT OF THE COMPTROLLER OF THE CURRENCY

TABLE N O . 39.—Federal Reserve notes outstanding according to weekly statements
{amount issued by Federal reserve agents to Federal reserve banks, less "unfit"
notes redeemed), and collateral security therefor, from November 6, 1929, to October 29, 1930
[In thousands of dollars]

Date

Nov. 6
Nov. 13
Nov. 20
Nov. 27
Dec. 4
Dec. 11
Dec. 18
Dec. 24
Dec. 31
Jan. 8
Jan.15
Jan. 22
Jan. 29
Feb. 5
Feb. 12
Feb. 19
Feb. 26
Mar. 5
Mar. 12
Mar. 19
Mar. 26
Apr. 2
Apr. 9
Apr. 16
Apr. 23
Apr. 30
May 7
May 14
May 21
May 28
June 4
June 11
June 18
June 25
July 2
July 9
July 16
July 23
July 30
Aug. 6
Aug. 13
Aug. 20
Aug. 27
Sept. 3
Sept. 10
Sept. 17
Sept. 24
Oct. 1
Oct. 8
Oct. 15
Oct. 22
Oct. 29

1929

1930

__.




Federal reserve notes
outstanding

Collateral security
Excess collateral
Gold

Eligible paper

2,407, 687
2,439,110
2, 427, 049
2, 429, 020
2, 450, 245
2,458,186
2, 500, 646
2, 505,918
2,426, 584

1,476,471
1, 550,885
1, 548, 485
1, 629, 465
1, 642, 065
1, 628, 207
1, 756,080
1, 732,160
1, 676,918

1, 264, 526
1, 223, 599
1,136, 223
1,125, 269
1,094, 771
1,044,119
1, 017,101
1,084, 535
970, 462

333,310
335,374
257, 659
325, 714
286, 591
214,140
272, 535
310, 777
220,796

2, 363, 528
2, 264, 773
2,169, 284
2,097, 079
2,055, 800
2, 048, 097
2,066, 380
2, 027, 349
2,014, 528
2,003, 843
1,946, 659
1,915, 680
1,900,136
1,893,952
1,864, 495
1,846, 342
1,826,987
1,815,190
1,800, 875
1, 793,817
1, 786,049
1, 779,033
1, 788, 611
1, 766,103
1, 749, 568
1, 744, 679
1, 750, 561
1, 742,958
1, 719, 617
1, 704, 744
1, 697, 223
1, 696,121
1, 716, 691
1, 736, 772
1, 736, 582
1, 736,973
1, 764, 965
1, 768, 803
1, 775, 640
1, 796, 482
1, 799, 895
1, 799,114
1, 781,147

1, 685, 479
1, 690,879
1, 680, 014
1, 654,164
1, 646, 264
1, 646, 634
1, 663,332
1, 629, 630
1, 615, 230
1, 656,159
1, 683, 659
1, 717, 859
1, 693, 284
1, 703, 584
1, 688, 084
1, 654,164
1, 642, 214
1, 659,814
1, 640,814
1, 621, 714
1, 596, 714
1, 603, 714
1, 626, 214
1, 599,114
1, 600, 214
1, 568, 014
1, 597, 514
1, 572,914
1, 558, 214
1,553,214
1, 551, 714
1, 546, 714
1, 537, 714
1, 575, 256
1, 564,956
1, 550,956
1,548,956
1, 543, 956
1,558, 456
1,549, 606
1, 546, 206
1, 571, 706
1, 590,116

854,099
735, 627
712, 598
648, 725
654, 526
625, 288
621, 869
597,048
562, 422
507,391
381, 856
451,956
514, 028
469, 807
494, 433
460,096
430, 807
405, 267
367, 661
386, 821
412,148
421,180
352, 662
332, 682
325, 759
375,900
346, 764
341, 543
317,947
310, 785
315,999
322, 231
338,948
335, 241
381,935
366,095
351, 695
352, 739
359, 515
352,417
375,845
346,358
329, 316

176,050
161, 733
223,328
205,810
244,990
223,825
218,821
199,329
163,124
159, 707
118,856
254,135
307,176
279,439
318,022
267,918
246,034
249,891
207, 600
214, 718
222,813
245,861
190,265
165, 693
176,405
199, 235
193, 717
171,499
156, 544
159,255
170,490
172,824
159,971
173,725
210,309
180,078
135,686
127,892
142,331
105,541
122,155
118,950
138,285

TABLE N O . 40.—Federal reserve notes, segregated by series, 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, 1930
VAULT BALANCE OCTOBER 31, 1930, 1914-1918 SERIES
Fives
Total printed.
_
Total shipped and canceled
Total on hand

Tens

Twenties

Fifties

$5,370,100,000 $5,978,520,000 $6,092, 240, 000 $1,283,800,000
5,370,100,000 5,978,520,000 6,092, 240,000 1,283,800,000

One h u n d r e d s

Five hundreds

One thousands

Five thousands

Ten thousands

Total

$884,400,000 $173,000,000 $333, 600,000 $108,000,000 $184,000, 000 $20, 407, 660, 000
884,400,000 173,000,000 333, 600, 000 108,000,000 184,000, 000 20,407, 660,000

VAULT BALANCE OCTOBER 31, 1930, 1928 SERIES

Total printed
Total shipped and canceled
Total on hand

$1,416,540,000 $1, 776,480,000 $1, 758,000, 000
783,440,000
979,680,000
878,960, 000
633,100,000

796,800,000

879,040, 000

$466, 200,000
200, 600,000

$468,000,000
172, 000,000

265, 600,000

296,000, 000

$69,360,000 $147,996,000
29, 560,000
58, 000,000
39,800, 000

C O M B I N E D V A U L T B A L A N C E O C T O B E R 31, 1930, B O T H

Total printed
Total shipped and canceled
Total on hand

89,996,000

$36, 840,000
15, 580, 000

$44, 880,000
18,360,000

$6,184,296,000
3,136,180, 000

21, 260,000

26, 520, 000

3,048,116,000

SERIES

$6, 786, 640,000 $7, 755,000,000 $7, 850,240, 000 $1, 750,000,000 $1,352,400,000 $242,360, 000 $481, 596,000 $144, 840, 000 $228, 880, 000 $26, 591, 956,000
6,153, 540, 000 6,958,200, 000 6,971, 200, 000 1, 484,400,000 1,056,400,000 202, 560, 000 391, 600, 000 123, 580, 000 202, 360, 000 23, 543, 840,000
633,100,000

796,800,000

879,040, 000

265, 600,000

296,000,000

39, 800, 000

89, 996,000

21, 260, 000

26, 520, 000

3, 048,116, 000

I S S U E D , R E T I R E D , A N D O U T S T A N D I N G O C T O B E R 31, 1930, 1914-1918 S E R I E S

Total issued
Total retired.
Total outstanding




$6,148, 375, 250 $6,990,812,040 $7,192, 258, 040 $1, 486, 660,050 $1, 111, 562,800 $182,128, 500 $423, 750, 000
6,103,844,815 6,923, 589, 220 7, 078, 302, 440 1, 441, 823, 250 1, 058, 668, 600 170,945, 000 392, 398, 000
44, 530, 435

67, 222,820

113,955, 600

44,836,800

52, 894, 200

11,183, 500

31, 352,000

$66,340, 000 $121, 260, 000 $23, 723,146, 680
64,195, 000 117,800,000 23, 351, 566,325
2,145, 000

3, 460, 000

371, 580, 355

TABLE N O . 40.—Federal reserve notes, segregated by series, printed, shipped, and canceled, issued to banks, retired, and destroyed since
organization of the banks, with the balance in vaults and amount outstanding October 81, 1930—Continued

00

ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1930, 1928 SERIES
Fives
Total issued
Total retired
Total outstanding. _._ .

Tens

Twenties

Fifties

One hundreds

Five hundreds

One thousands

Five thousands

Ten thousands

Total

$691,935, 620
363,195, 650

$879,319,120
465,491,000

$740,836,240
307,285, 600

$148,170,000
47,880,500

$134, 655,000
29, 769, 700

$15,320,000
4,056,500

$26,215,000
8,152,000

$1,015,000
520,000

$1,710,000
1,050,000

$2,639,175,980
1,227,400,950

328, 739,970

413,828,120

433, 550, 640

100,289, 500

104, 885, 300

11,263, 500

18,063,000

495, 000

660,000

1,411,775,030
•3

w

COMBINED—ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1930, BOTH SERIES
Total issued
Total retired
Total outstand ing

$6,840,310,870 $7,870,131,160 $7, 933,094,280 $1,634,830,050 $1,246, 217,800 $197,448, 500 $449, 965, 000
6,467, 040,465 7, 389, 080, 220 7,385,588,040 1,489,703, 750 1,088,438,300 175,001, 500 400, 550,000
373, 270,405

481,050,940

547, 506, 240

145,126, 300

157, 779,500

22,447,000

49,415,000

$67,355, 000 $122,970,000 $26,362,322,660
64, 715,000 118,850,000 24, 578,967,275
2, 640,000

4,120,000

1, 783,355,385

MUTILATED F E D E R A L RESERVE NOTES, BY DENOMINATIONS, RECEIVED A N D D E S T R O Y E D SINCE ORGANIZATION OF BANKS AND ON
H A N D I N V A U L T O C T O B E R 31, 1930, 1914-1918 S E R I E S

Boston
New York
Philadelphia...
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis...
Kansas City...
Dallas
San Francisco..

$449, 771, 660
1,477,133,355
516, 306, 500
363,499, 555
228,365,385
263,331,535
818,110,115
207,194,235
144, 772, 785
217, 735, 680
141, 678,170
456,058, 540

$692,422,340 $508, 773,340
1, 751,074, 520 1,158,433, 240
561, 760, 220
594,424, 700
434,013, 720
757,572, 740
272,416,030
332,993,160
303, 558, 670
307, 698,340
838,158,110
916,500,120
212, 576, 660
210,128,460
140,548, 610
125,041,300
161,908,920
177,437,320
128,460,360
134,035, 220
409,070,020
699,435,260

$50,965, 550
254,130, 200
180,471,300
289,845,350
80,584,100
40,219,850
193,287,000
27,317,650
7,420, 250
17,833, 650
10,283, 250
64,672,400

$68, 751,400
294, 783,100
60, 232,300
62,919,000
39,997, 700
43,818,000
80,308, 700
16,962,200
10, 541,900
23, 255, 400
11,381, 600
98,322,300

$6,389,000 $19, 742,000
59,892,000 119,106,000
3,091, 500 12,283, 000
7,015, 500
7, 767, 000
1,961,000
8,135,000
11,846,000 33,975,000
13,138,000 15, 704,000
3,117, 500
3,818, 000
1,845, 500
2,413,000
3,146, 500
3,682,000
2,945, 000
1,887,500
5,879,000 15,490, 000

Canceled
Total received...
Total destroyed.
Balance on hand.




253,100

653,400

1,054, 500

235, 400

811,273, 600 119,209,000 245,060,000
810,975,000 118,865,500 244,429,000
298,600

343,500

631,000

s
o

I

$7,960,000 $1,808, 699,290
15, 910, 000 5,138, 437,415
1,928,569,520
3,940,000 1,928, 542,865
4,000,000
970, 452,375
1,004, 447,395
2,879,121,045
3,980,000
687,069,705
432, 584,345
604,999,470
430, 671,100
"l6~75O~666" 1, 764, 757, 520

I

128,000, 000

168,000,000

2

66,840, 000 174,540,000
66,830,000 174,540,000

19,746,352,045
19, 742,872,545

$3,925,000
7,975,000
1, 970, 000
2,000,000
3,915, 000
1,975,000

5,080, 000
40,000,000

5,283,957,515 5,905,968,180 5,922,473,200 1,217,030,550
5,283,704,415 5,905,314,780 5,921,418,700 1,216,795,150

o
K

10,000

3,479, 500

W

d

MUTILATED FEDERAL RESERVE NOTES, BY DENOMINATIONS, RECEIVED AND DESTROYED SINCE ORGANIZATION OF BANKS AND ON
. .
HAND IN VAULT OCTOBER 31,1930,1928 SERIES
Boston
New YorkPhiladelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
M inneapolis
Kansas City__
Dallas
San Francisco

$18,392,950
26,464, 250
17,834,050
16,440,300
12,387, 600
12,449,150
30,221,900
19, 717, 200
4,368,000
11,342, 800
7,434, 800
15, 520, 550

.
_ _

Total received
Total destroyed
Balance on hand.

__
__.

$38, 506, 600
21,029,050
26,056, 750
23,481, 650
14,792, 600
15,231,450
33,859,200
15,305, 500
3,110,900
8,401,050
6,306, 900
10,113, 650

$20, 794, 700
6,861,400
19, 782,900
24,020, 500
13, 661, 200
10,287,000
14, 797,000
7,567,200
1,825,400
7,462, 500
5,413,800
10,094,100

$1,036,950
1, 757,850
6,041, 200
3,809, 000
1,995,750
305, 600
7,832, 650
133, 650
48, 650
200,800
85,900
178,000

$624, 000
453, 700
1,476,300
327, 700
165,000
177,000
431,800
132,000
74,000
194, 700
156,400
290, 500

$59,000
3,000
56,000
118,000
11, 500
9,500
10,000

$126,000
7,000
158, 000
151,000
44,000
15,000
11,000

500
209, 500
43, 500

2,000
182,000
59,000

192, 573, 550
190,307, 650

216,195,300
212,981,400

142, 567, 700
140,521,100

23,426,000
23,107,400

4, 503,100
4,437, 700

520, 500
520, 500

755,000
755,000

2, 265, 900

3, 213,900

2,046, 600

318,600

65,400

$10, 000

$30, 000

5,000
5,000

20,000

20, 000
20,000

50, 000
50, 000

$79, 580, 200
56, 576, 250
71,405, 200
68,353,150
43, 082, 650
38,474, 700
87,163, 550
42,855, 550
9, 429,450
27,993,350
19, 500,300
36,196,800

d
O

580, 611,150
572, 700, 750
7,910,400

o

o

COMBINED MUTILATED F E D E R A L RESERVE NOTES, BY D E N O M I N A T I O N S , R E C E I V E D AND D E S T R O Y E D SINCE ORGANIZATION OF BANKS
AND ON HAND IN VAULT OCTOBER 31, 1930, B O T H SERIES
Total received
Total destroyed.
Balance on hand

$5, 476, 531,065 $6,122,163, 480 $6,065,040, 900 $1, 240,456, 550
_ 5,474,012, 065 6,118, 296,180 6, 061,939, 800 1, 239,902, 550
3,101,100
554, 000
2, 519,000
3,867,300

$815, 776, 700 $119, 729, 500 $245,815, 000
815, 412, 700 119, 386,000 245,184,000
364,000
343, 500
631,000

$66,860,000 $174, 590,000 $20,326,963,195
66,850,000 174, 590, 000 20,315, 573, 295
11,389,900
10,000

NOTE.—During the year, badly mutilated, burned, and fractional parts of Federal reserve notes amounting to $16,715 old series, $10,267; new series, $6,448; have been identified,
valued, and the bank of issue determined.

TABLE NO. 41.—Aggregate amount of Federal reserve bank notes printed, issued, canceled, and redeemed, by denominations, since the inauguration of the Federal reserve system, and amount on hand and outstanding October 31, 1980
VAULT BALANCE OCTOBER 31, 1930
Ones
Total printed
Total issued and canceled

.. .

-

$478,892, 000
478,892, 000

Twos
$136, 232, 000
136,323,000

Fives
$132, 500,000
132, 500, 000

Tens

Twenties

Fifties

$14,080,000
14,080, 000

$2,600,000
2, 600, 000

$788,344, 000
788.344, 000

$16,440, 000
16,320,655

$9, 760,000
9, 597.970

$200, 000
186, 050

119,345

162, 030

13,950

$761, 944, 000
758, 759,958
3,184, 042

$24,040, 000
24, 040, 000

Total

ISSUED, REDEEMED, AND OUTSTANDING OCTOBER 31, 1930
Total issued
Total redeemed
Total outstanding- __




_

$478,892, 000
476,973,458
1,918,542

$135,192, 000
134, 627, 290
564, 710

$121, 460, 000
121,054,535
405, 465

o
1
t-

o

TABLE No. 42.—Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates for years ended June 30, 1915, to 1930
Semiannual
taxes on circulation

1915
1916
1917
1918 . . .
1919
1920
1921
1922.
1923
1924
1925..
1926
1927
1928
1929
1930-.Total




.
.

.
..

$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

.

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
403.48
316.91
375.40
766,436.07

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
2,140.06

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
403.48
316. 91
375.40

8
3

i

4, 202,870. 74

2

TABLE NO. 43.—National banks in charge of receivers during year ended October 31, 1930, 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
[A=Incompetent management. B=Dishonesty. C=Localfinancialdepression from unforeseen agricultural or industrial disaster. D=Receiver appointed to levy and collect stock
assessment covering deficiency in value of assets sold. E = Temporary suspension]
Organization
Name and location of bank

Farmers & Drovers National Bank, Waynesburg, Pa
-.
First National Bank, Billings, Mont
First National Bank, Sutton, W. Va
First National Bank, Uniontown, Pa
First National Bank, Eureka, S. Dak
First National Bank, Hearne, Tex
First National Bank, Gridley, Calif
First National Bank of Ranger, Tex
Corn Belt National Bank of Scotland, S. Dak.
First National Bank of Ambia, Ind
First National Bank of Bridgeport, Nebr...
Bannock National Bank of Pocatello, Idaho
First National Bank, Vale, Oreg
Stillwater Valley National Bank, Absarokee.
Mont
National City Bank, Salt Lake City, Utah...
American National Bank, Billings, Mont.__.
Merchants National Bank, Wimbledon, N.
Dak
Commercial National Bank, Great Falls,
Mont..
Citizens National Bank, Laurel, Mont
First National Bank, Broadview, Mont
Commercial National Bank, Wilmington,
N. C

•

Charter
No.

Date

3097
6213
270
11527
4976
11164
8072
11031
9510
9711
6347
8528

Jan. 30,1865
Dec. 3,1883
Apr. 7,1902
Jan. 2,1864
Nov. 18,1919
July 5,1894
Mar. 14,1918
Jan. 26.1906
May 28,1917
July 30.1909
Feb. 23.1910
July 15,1902
Jan. 14.1907

11066 Aug. 11,1917
10308 N o v . 19,1912
11696 Apr. 5,1920

$150,000 $597,750. 00
321,350.00
75,000
31, 500. 00
35,000
60,000 1,308,000.00
50,000
7, 500.00
50,000
178,000.00
40, 000
25,000
50,250.00
25,000
1, 750.00
25,000
11, 250.00
25,000
21, 500.00
50,000
49,000. 00
25,000
20,000.00
25,000
250,000
150,000

14,000. 00
122,500.00

Failures

Capital

$200,000
150,000
50,000
100,000
50,000
50,000
40,000
200,000
25,000
25,000
25,000
100,000
50,000

Receiver
appointed

Dec.
July
Aug.
Jan.
Aug.
Jan.
Jan.
Mar.
Mar.
Apr.
May
June
Nov.

12,1906
2,1910
29.1914
19.1915
20.1920
21.1921
29,1921
2,1921
28,1921
5,1921
18,1921
11,1921
15,1921

25,000 Jan. 30,1922
250,000 Feb. 3,1922
150,000 Sept. 23,1922

8917 Sept. 17,1907

30,000

15,000.00

200,000
35,000
25,000

106,000.00
7,700. 00
11,500. 00

200,000 Dec. 9,1922
35,000 Jan. 4,1923
25,000 Jan. 30,1923

12176 Apr. 17,1922

200,000
30,000

9,000.00

200,000 Jan. 31,1923
do.30,000

Apparent
cause
of
failure

25,000
25,000
25,000
25,000
100,000

75,250. 00
89, 490. 00
32,000. 00
136, 000. 00

50,000
50,000
50,000
25,000
100,000

Feb. 5,1923
Apr. 12,1923
June 14,1923
.do.
July 3,1923

Lawful
money
deposited

Circulation
Total
outstanding deposits at
at date of date of suspension
failure

A
A
B
A
B
C
C
BC
A
B
AC
C
C
C
C
AC

$100.000. 00
37; 500. 00
50,000. 00
100,000.00

10,000. 00

10,000.00

60,490

BC
C
C
AC
A
AC
C
A
AC
C

177,600. 00
33,900. 00

177,600.00
33,900.00

1,067,638
215,807
74,657

91,500. 00
18,400. 00

91,500. 00
18,400. 00

1,991,806
186,104

39,300. 00
25,000. 00
13,700. 00
24, 300. 00
92,800.00

39, 300. 00
25, 000. 00
13,700.00
24, 300. 00
92,800.00

176,708
158,539
141,638
893,613

25,000 Oct. 27,1922

10530 Apr. 20,1914
8716 M a y 3,1907
10809 N o v . 26,1915

First National Bank, Winner, S. Dak
11119 Dec. 15,1917
First National Bank, Wessington Springs,
S.Dak
. . . 6446 Sept. 25,1902
First National Bank, Gregory, S. Dak
8600 Feb. 22,1907
First National Bank, Rock River. Wyo
11342 Apr. 24,1919
First National Bank, Joseph, Oreg
8048 Dec. 11,1905
9076 M a r . 10,1908
Peoples National Bank, Salisbury, N. C




Capital

Total dividends paid
during existence as a
national
banking
association

$100,000. 00 $1,047, 580
37, 500. 00 1,908,841
364,021
50,000.00
100,000.00
1,452, 581
823, 254
10,900. 00
128,566
10,900.00
36, 000. 00
210,855
36,000. 00
22,400. 00
22,400. 00
1, 283, 599
264,775
24,600. 00
24,600. 00
24,796
20,600. 00
20,600. 00
112,121
11,700. 00
11, 700. 00
842,093
11,600. 00
11,600.00
122,449

243,300. 00

243,300.00

170,037
1,383,447
499,259

TABLE N O . 43.—National banks in charge of receivers during year ended October 81,1930, capital at date of organization and at date of failure, CO
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
[A=Incompetent management. B = Dishonesty. C = Localfinancialdepression from unforeseen agricultural or industrial disaster. D=Keceiver appointed to levy and collect stock
assessment covering deficiency in value of assets sold. E=Temporary suspension]
Organization
Name and location of bank

First National Bank, Sapulpa, Okla
First National Bank, Wells, Minn__
First National Bank, Mitchell, S. Dak
Cavalier County National Bank, Langdon,
N. Dak
City National Bank, Coalgate, Okla
First National Bank, Grey Eagle, Minn
Union National Bank, Beloit, Kans
Texas County National Bank, Guymon,
Okla
First National Bank, Lancaster, Minn
First National Bank, Turtle Lake, N. Dak.
First National Bank, Forsyth, Mont
Condon National Bank, Condon, Oreg
Merchants National Bank, Mandan, N Dak
First National Bank, Webster, S. Dak
Sioux Falls National Bank, Sioux Falls, S.
Dak
Dakota National Bank, Dickinson, N. Dak_.
First National Bank, Brookings, S. Dak
First National Bank, Onida, S. Dak
Commercial National Bank. Miles City,
Mont
Nowata National Bank, Nowata, Okla
First National Bank, Sidney, Mont
Stockmens National Bank, Fort Benton,
Mont
_.
Wells National Bank, Wells, Minn
First National Bank, Gering, Nebr
First National Bank, Coalgate, Okla
First National Bank, Huron, S. Dak
Torrington National Bank, Torrington, Wyo.




Charter
No.

Date

Capital

Total dividends paid
during existence as a
national
banking
association

Failures

Capital

Keceiver
appointed

Apparent
cause
of
failure

Lawful
money
deposited

5951 Aug. 19,1901
4669 Dec. 12,1891
2645 Feb. 8,1882

$25,000
50,000
50,000

$177,550. 00
213,750. 00
167,500. 00

$100,000 July 30,1923
100,000 Oct. 22,1923
100,000 Oct. 23,1923

C
A
AC

$44,900. 00
96,400.00
99,000.00

9075 Jan. 28,1908
11676 Mar. 10,1920
8729 M a y 28,1907
6701 Mar. 24,1903

25,000
50,000
25,000
25,000

52,000.00
38,650. 00
149,875.00

C
C
C
BC

Mar.
May
June
June
Mar.
Aug.
Nov.

21,1922
14,1919
8,1907
10,1904
26,1906
24,1914
19,1902

25,000
25,000
25,000
50,000
50,000
50,000
25,000

5,000.00
5,000. 00
30,125.00
136,500. 00
12,500. 00
5,000. 00
32,500.00

25,000 Oct. 29,1923
50,000 Nov. 8,1923
25,000
do
50,000 Nov. 13,1923
25,000
do
25,000 Nov. 19,1923
25,000 Nov. 21,1923
75,000 Dec. 18,1923
50,000
do.
50,000 Dec. 26,1923
25,000 Jan. 2,1924

2823 Nov. 14,1882
7663 Mar. 4,1905
3087 Nov. 15,1883
11585 Jan. 17,1920

50,000"
50,000
50,000
25,000

240,500. 00
68, 000. 00
270,500.00

150,000 Jan. 24,1924
50,000 Feb. 7,1924
100,000 Feb. 9,1924
25,000 Feb. 12,1924

B
AC
C
A
C
A
C
AC
C
A
A

5015 Aug. 15,1895
6367 July 23,1902
9904 Dec. 23,1907

80,000
25,000
25,000

277,000.00
112,000. 00
103,250. 00

250,000 Feb. 15,1924
25,000 Feb. 19,1924
50,000 Feb. 26,1924

Dec. 24,1889
Apr. 6,1903
Dec. 28,1905
Dec. 8,1900
May 19,1882
Feb. 3,1919

100,000
30,000
50,000
25,000
50,000
35, 000

802,000.00
75,000.00
59,750,00
175, 850.00
166,350,00
8,750,00

200, COO
75, 000
25,000
100,000
65,000
35,000

12179
11356
8821
7320
8261
10604
6502

4194
6788
8062
5647
2819
11309

do__
Feb. 26,1924
.do.
Feb. 27,1924
Mar. 14,1924
Mar. 19,1924

Total
Circulation
outstanding deposits at
at date of date of suspension
failure

$44,900.00
96,400. 00
99,000.00

$688,227
745,030
562,553

22,900.00

22,900.00

24,000. 00
49,300.00

24,000.00
49,300.00

353,645
158,720
90,443
545,591

24,700. 00
9,700. 00
33,700. 00
11,800.00
25,000. 00
24,700. 00

24,700. 00
9,700. 00
33,700. 00
11,800. 00
25,000. 00
24,700.00

173,519
179,618
134,961
352,127
121,155
315,054
224,512

74,250. 00
47,100. 00
98, 500. 00
24,700.00

74, 250. 00
47,100.00
98,500. 00
24,700.00

1,514,456
176,986
623,164
112,045

C
C
C

98,500.00
16,797. 50
39,000.00

98,500.00
16, 797. 50
39,000.00

1, 588,243
459,448
395,764

C
C
A
C
C
C

190,795. 00
74, 300.00
11, 500.00
27,300. 00
29, 000. 00

190,795.00
74,300.00
11, 500. 00
27, 300. 00
29,000.00

467,119
931,958
265,790
493,803
1,099,420
67,468

Merchants National Bank, Crookston,
Minn
___
First National Bank, Sterling, Colo
First National Bank of Fergus County, Lewistown, Mont
First National Bank, Pilger, Nebr
Citizens National Bank, Hankinson, N. DakFirst National Bank, Carlsbad, N. Mex
Farmers National Bank, Burlington, Kans..
Drovers National Bank, East St. Louis, Ill__
First National Bank, Schuyler, Nebr
r
City National Bank of Huron, Huron,
S. Dak
Citizens National Bank, Worthington, Minn.
National Bank of Commerce of Rochester,
N. Y
Weiser National Bank, Weiser, Idaho
First National Bank, Cheyenne, Wyo
First National Bank, Harrington, Wash
First National Bank, Putnam, Conn
First National Bank, Ozark, Ala
First National Bank, Ulen, Minn
First National Bank, Alma, Wis
Merchants National Bank, Grinnell, Iowa...
First National Bank, Algona, Iowa
First National Bank, Boise City, Okla
First National Bank, Center, Tex
Farmers National Bank, Dodge Center,
Minn
First National Bank, Torrington, Wyo
Parkesburg National Bank, Parkesburg, Pa_.
Stockmans National Bank, Columbus, MontFirst National Bank, Alexandria, Minn
First National Bank, Townsend, Mont
First National Bank, Rigby, Idaho
Jefferson County National Bank, Rigby,
Idaho
First National Bank, Excelsior Springs, Mo..
Logan County National Bank, Sterling, Colo.
Perry National Bank, Perry, Iowa
Farmers National Bank, Hempstead, Tex
First National Bank, Quincy, Fla
National Bank of Commerce, Pierre, S. Dak_.
First National Bank, Atwater, Minn
First National Bank, Renville, Minn
First National Bank, Idabel, Okla
First National Bank, Matoaka, W. Va
City National Bank, Clarksville, Tex
Commercial National Bank, Greenville, Tex.
Georgia National Bank, Athens, Ga
First National Bank, Hedrick, Iowa
First National Bank, Jasper, Minn




75,000
25,000

155,250.00
342,986.05

75, 000 Mar. 24,1924
100, 000 Apr. 5,1924

A
C

74, 200.00
98, 300. 00

74, 200. 00
98, 300.00

1.170,960
712, 005

9,1904
2,1901
18,1906
19,1900
10,1903
30,1913
4,1882

100,000
25,000
30,000
25,000
25,000
200,000
50,000

485,000. 00
77,750.00
31,900. 00
430, 000. 00
81,750.00
57,000. 00
214,750. 00

300,000
50,000
30, 000
100,000
55,000
200,000
50,000

Apr.
Apr.
Apr.
May
May
May
May

12,1924
22,1924
30,1924
14,1924
21,1924
22,1924
24,1924

AC
C
C
A
C
C
C

124, 500. 00
48,600. 00
30, 000. 00
24, 597. 50
49,300. 00

124, 500. 00
48, 600. 00
30,000. 00
24, 597. 50
49, 300. 00

47,200. 00

47, 200. 00

2, 866,963
202,998
206, 864
361,326
316, 452
433,685
524,922

8781 June 3,1907
5910 June 7,1901

50,000
25,000

44,750. 00
50, 500. 00

50,000 June 10,1924
25,000 June 19,1924

D
A

39,000. 00
18, 000. 00

39, 000.00
18, 000. 00

421, 059

3262
5624
7274
5937
8084
5487
6955
10399
2778

Oct. 25,1884
Oct. 29,1900
May
Aug.
Jan.
May
Sept.
Apr.
Sept.

8111
8139
1800
9210
448
7629
7081
8338
2953
3197
11084
5971

Feb.
Feb.
Dec.
July
Mar.
Feb.
Dec.
May
Apr.
May
Aug.
Sept.

1,1906
19,1906
29,1870
10,1908
23,1864
13,1905
12,1903
16,1906
28,1883
22,1884
30,1917
10,1901

2464
11220
2995
9982
11385

Feb.
Oct.
Feb.
July
June
Jan.
June

4,1903
6,1908
27,1880
12.1918
9,1883
31,1911
13.1919

30,000
25,000
50,000
50, 000
60,000
50,000
30,000

11458
7741
7973
10130
4905
7253
4279
10570
6583
8486
11264
10643
7510
6525
5540
6523

June 9,1919
May 5, 1C05
Oct. 11.1905
Jan. 2,1912
Apr. 15,1893
May 4,1904
Feb. 13,1890
June 15,1914
Dec. 19,1902
Dec. 10.1906
Nov. 7,1918
Oct. 8,1914
Nov. 24,1904
Oct. 14,1902
Aug. 11,1900
Oct. 7,1902

50,000
25,000
50,000
50,000
50, 000
50, 000
75, 000
25,000
25,000
25,000
25, 000
25,000
100, 000
100, 000
25, 000
25,000

1, 500,000
75,000
200, 000
50,000
150, 000
35, 000
25,000
25,000
100, 000
50,000
25,000
50,000

June 21,1924
June 23,1924
July 9,1924
Aug. 6,1924
Aug. 13,1924
Oct. 23,1924
Oct. 28,1924
Nov. 7,1924
Nov. 12,1924
Nov. 24,1924
Nov. 25,1924
Dec. 3,1924

A
C
C
C
AB
A
A
A
C
A
AB
B

459,897. 50
64,100. 00
190,600. 00
19,200. 00
50, 000. 00
32,400. 00
24, 700. 00
24,995. 00
100,000. 00
49, 600. 00
10,000. 00
48,900. 00

459, 897. 50
64,100. 00
190, 600. 00
19, 200. 00
50, 000. 00
32, 400. 00
24, 700. 00
24, 995. 00
100, 000. 00
49, 600. 00
10,000. 00
48,900.00

198,498
574,356
4,498,121
' 198,499
1,478,076
158, 618
197, 067
203, 589
998,975
656, 090
136, 521
245, 341

Dec. 9,1924
Dec. 16,1924
Dec. 26,1924
Jan.
7,1925
Jan.
8,1925

AB
C
AB
C
A
C
C

29, 500. 00
6,100. 00
42, 600. 00

29, 500. 00
6,100. 00
42, 600. 00

264,600. 00
26,000. 00
4,800.00-

30,000
50,000
50,000
50,000
60,000
50,000
80,000

59, 400. 00
12, 500. 00

59,400. 00
12,500. 00

611,756
254, 693
329,404
137,464
843, 235
80, 721
466,517

17,000.00
147,000. 00
54,250. 00
133,000. 00
127, 000. 00
139,048. 00
31,000. 00
88,000. 00
99,000. 00
16,250. 00
95, 000. 00
158, 000. 00
716, 000. 00
51, 750. 00
94,600. 00

50,000
25,000
150, 000
75,000
50, 000
100,000
100, 000
25,000
25, 000
80, 000
50, 000
200, 000
150,000
400, 000
25, 000
30,000

500,000 1,222,500.00
50,000
118,584.67
100,000
949,000.00
50,000
46, 500. 00
100,000
814,000. 00
25,000
85,737. 22
25,000
42, 500. 00
25,000
52, 500. 00
50,000
422,500. 00
50,000
142, 750. 00
25,000
6,000. 00
30,000
31,000.00
43,500. 00
90,000. 00
171,865,00

do
Jan. 12,1925
Jan.
Jan.
Jan.
Feb.
Feb.
Feb.

17,1925
24,1925
26,1925
5,1925
7,1925
11.1925

.. do'—
..

Feb.

14,1925
do
Feb. 18,1925
Mar. 3,1925
Mar. 9,1925
Apr. 6,1925
Apr. 17,1925
Apr. 24,1925
May 1,1925

D
B
C
AB
A
A
AB
BC
C
A
B
C
BC
C
D
C

25, 000. 00
100, 000. 00
72, 300. 00
49,197. 50
79, 500. 00
10, 000. 00
24, 600. 00

25,666.66
100, 000. 00
72, 300. 00
49,197.50
79, 500. 00
10, 000. 00
24, 600. 00

50, 000. 00

50, 000.00

149,995. 00
200, 000. 00
19, 800. 00
29, 500. 00

149, 995. 00
200, 000. 00
19, 800. 00
29, 500. 00

212, 086
508,452
645, 627
177, 720
348, 671
683, 098
488,436
400, 700
264, 653
571,934
108, 596
638, 350
1, 200, 239
147,483
374,936

TABLE N O . 43.—National banks in charge of receivers during year ended October 81,1930, 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
[A=Incompetent management. B = Dishonesty. C = Localfinancialdepression from unforeseen agricultural or industrial disaster. D=Receiver appointed to levy and collect stock
assessment covering deficiency in value of assets sold. E = Temporary suspension]
Organization
Name and location of bank

915
916
918
919
920
922
923
924
925
927
928
930
931
932
935
939
941
943
944
945
946
947
948
950
951
952
954

First National Bank, Conyers, Ga
Hugo National Bank, Hugo, Okla
Burgettstown National Bank, Burgettstown,
Pa
First National Bank, Selma, N. C
First National Bank, Madison, S. Dak.
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, Abercrombie, N. Dak__
First National Bank, Wausa, Nebr
First National Bank, Redwood Falls, Minn..
First National Bank,- Lake Park, Minn
Globe National Bank, Denver, Colo
First National Bank, Warren, Minn
First National Bank, Hallock, Minn
First National Bank, Buffalo, Minn
i_
Manilla National Bank, Manilla, Iowa
Loveland National Bank, Loveland, Colo.-Winner National Bank, Winner, S. Dak
Muskogee Security National Bank, Muskogee, Okla
First National Bank, Forest City, iowa
Davenport National Bank, Davenport,
Wash
First National Bank, Pasco, Wash ___
First National Bank, Howard, S. Dak
_




Total dividends paid
during existence as a
national
banking
association

$75,000
200,000

May 12,1925
do_
-

C
C

$27,700. 00
24, 200.00

$27,700. 00
24,200.00

$133,181
968, 533

100,000
30,000
50,000
150,000
25,000
50,000
100,000
50,000

May
May
May
May
May
May
June
June

14,1925
16,1925
21,1925
22,1925
25,1925
29,1925
5,1925
15,1925

A
C
AC
A
C
A
C
C

98,400.00
8,800. 00
30,895. 00
124, 000. 00
25, 000. 00
45, 200. 00

98,400. 00
8, 800. 00
30,895. 00
124, 000. 00
25, 000. 00
45,200.00

1,698, 546
181, 216
399, 861
1,137,989
384, 311
350,144
235, 854
150, 655

110, 500. 00
401,000. 00
11, 750. 00
87, 500. 00
94, 550. 00
33, 500. 00
66,000. 00
81,250. 00
84,450.00
14,000. 00
41,875.00
133,000. 00

60,000
250,000
25,000
75,000
70,000
25,000
200,000
50,000
60,000
50,000
25, 000
100,000
60,000

June
June
June
July
July
Aug.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.
Oct.

22,1925
24,1925
30,1925
9,1925
29,1925
24,1925
1,1925
10,1925
16,1925
17,1925
20,1925
22,1925
24,1925

C
A
C
C
A
A
AB
C
C
AB
AB
C

56, 700.00

56,700.00

24,100. 00
50, 000. 00
24, 400. 00
25, 000. 00

24,100. 66
50, 000. 00
24, 400. 00
25,000.00

24, 600. 00
24, 600. 00
34,600. 00
18, 450. 00
100,000. 00

24, 600. 00
24,600. 00
34, 600. 00
18, 450. 00
100,000. 00

12,000.00
84,250.00

200,000
75,000

Nov. 7,1925
Nov. 14,1925

c
c

491, 438
1,682, 525
224, 370
511, 612
377,128
309, 344
4,020, 485
382, 775
350, 056
668, 508
127, 950
490, 791
71, 852

73,997. 50

73,997.50

Nov. 17,1925
Nov. 21,1925
Nov. 24,1925

AB
C
C
C

23,100. 00
42,800. 00
12, 500. 00

23,100. 00
42,800. 00
12, 500. 00

11255
7747

Sept. 3,1918
Apr. 11,1905

$75,000
50,000

2408
10739
3149
9747
6357
9387
12136
11565

Jan.
May
Mar.
Mar.
June
Mar.
Feb.
Oct.

25,1879
7,1915
29,1884
23,1910
28,1902
16,1909
10,1922
18,1919

50,000
30,000
50,000
100,000
25,000
25,000
100,000
50,000

444, 500.00
11,400. 00
216,355.00
167,000. 00
65,000.00
49,125. 00

8122
2790
8419
9994
5826
7143
11623
5866
6934
11023
6041
8116
12024

Feb.
Sept.
Aug.
Mar.
Mar.
Feb.
Feb.
May
Aug.
June
Nov.
Feb.
Sept.

9,1906
25,1882
25,1906
27,1911
11,1901
10,1904
5,1920
18,1901
5,1903
7,1917
12,1901
14,1906
20,1921

50,000
25^000
50,000
25,000
25,000
200,000
25,000
25,000
25,000
25,000
100,000
60,000

12277
4889

Nov. 8,1922
Feb. 20,1892

100,000
50,000

Dec. 22,1904
Aug. 22,1908
Nov. 29,1902

100,000
25,000
25,000

Total
Circulation
outstanding deposits at
at date of date of suspension
failure

Apparent
cause
of
failure

Date

7527
9265
6585

Lawful
money
deposited

Receiver
appointed

Charter
No.

Capital

Failures

$145,166.66

9,500.00

175, 000. 00
60,000.00
85, 250. 00

Capital

100,000
50,000
50, 000

2,122, 111
507, 347
451, 757
375, 645
360. 599

CO

o

B

Gregory National Bank, Gregory, S. Dak__.
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
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
._.
Security National Bank, Mason City, Iowa
Glasgow National Bank, Glasgow, Mont
First National Bank, Greensboro, Ga
Broadway National Bank, Denver, Colo
First National Bank, Tama, Iowa
First National Bank, Waukon, Iowa
_.
Cando National Bank, Cando, N. Dak
First National Bank, Ada, Minn
Farmers National Bank, La Moure, N. Dak.
First National Bank, Estherville, Iowa
Stockmans National Bank, Brush, Colo
Liberty National Bank of South Carolina at
Columbia, S. C
First National Bank, Kiefer, Okla
First National Bank, Marion, N. Dak
Spirit Lake National Bank, Spirit Lake, Iowa.
First National Bank, Blue Mound, 111
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, Noblesville, Ind
First National Bank, Jonesboro, Ark
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
Whitbeck National Bank, Chamberlain, S.
Dak
First National Bank, Cumberland, Iowa
Guthrie County National Bank, Panora,
Iowa
First National Bank, Royalton, Minn
First National Bank, Pepin, Wis




9377
4450
3284
11286
8945
9903

Mar.
Oct.
Dec.
Dec.
Oct.
Nov.

23,1909
6,1890
22,1884
28,1918
28,1907
23,1910

50,00C
50,000
50,000
30,000
40,000
25,000

77,477. 35
208, 500. 00
211, 750. 00
6,400. 00
46,000. 00
15, 500. 00

50, 000
50,000
50, 000
50,000
50,000
25,000

Nov.
Dec.
Dec.
Dec.
Dec.
Dec.

25,1925
2,1925
4,1925
5,1925
8,1925
12,1925

Dec.

C
C

48, 500. 00
47, 700. 00
14, 700. 00
25,000. 00
40,000. 00
6, 250. 00

48, 500. 00
47, 700. 00
14, 700. 00
25,000.00
40,000. 00
6,250.00

290, 520
520, 572
633, 005
341, 515
168, 630
262,155

9,600.00

17,1925

c
c
c
c

9,600.00

333,877

12,100. 00
200, 000. 00
24, 500. 00

12,100. 00
200, 000. 00
24, 500. 00

97,900. 00
50, 000. 00

97,900. 00
50, 000. 00

49, 297. 50
93,200. 00
6, 500. 00
24, 500. 00
48, 700. 00
97,000. 00
9,800.00

49,297. 50
93, 200. 00
6, 500. 00
24, 500. 00
48, 700. 00
97,000. 00
9,800. 00

12,000. 00
45, 200. 00
24, 200. 00

12,000. 00
45, 200. 00
24, 200. 00

50, 000. 00
97, 700. 00
78, 700. 00
49,000. 00
40, 000. 00

50,000. 00
97, 700. 00
20, 000. 00
78, 700. 00
49,000. 00
40, 000. 00

25,000

25,000. 00

25,000

July
Mar.
Dec.
Dec.
June
July
Feb.
Aug.
Aug.
Aug.
Apr.
July
Apr.
Mar.
Jan.
Dec.

20,1915
26,1906
18,1919
5,1901
7,1913
16,1913
19,1907
1,1903
10,1922
5,1871
22,1893
16,1904
13,1900
1,1910
23,1892
22,1906

25,000
50,000
200,000
25,000
150,000
100, 000
25,000
25,000
200, 000
50,000
50,000
25,000
25,000
50,000
50,000
35,000

5, 250. 00
66,000. 00
16,000. 00
92, 750. 00
54,000. 00
614, 500. 00
104,250. 00
49,000. 00
28,000. 00
213,450. 00
226, 500. 00
74,000. 00
93, 750. 00
51,000. 00
291,750. 00
66, 500. 00

25,000
50,000
200,000
50,000
100,000
100,000
75,000
50,000
200,000
75,000
100,000
25, 000
50,000
50, 000
100,000
35,000

do
Dec. 23,1925
Dec. 24,1925
do
__.
Dec. 28,1925
Dec. 29,1925
do
Jan. 9,1926
Jan. 16,1926
Jan. 18,1926
do

Feb.
July
Apr.
Dec.
Aug.
Dec.
Aug.
Aug.
May
Oct.
Mar.
Dec.
11460 Sept.

10,1910
15,1922
30.1908
12.1905
19.1909
26,1914
31.1906
7,1906
5,1877
25.1907
1,1893
20,1905
17,1919

100,000
25,000
25,000
50,000
25,000
25,000
50,000
50, 000
50,000
25,000
50,000
100,000
25,000

166, 312. 50
62,000. 00
101, 000. 00
21, 750. 00
16, 250. 00
80, 000. 00
116, 000. 00
417, 000. 00
61,800. 00
132, 687. 50
206, 000. 00
2,000. 00

500,000
25,000
25, 000
50, 000
25, 000
25, 000
50, 000
100, 000
50, 000
80, 000
62, 500
100, 000
25, 000

Mar. 4,1926
Mar. 13,1926
Mar. 19,1926
Mar. 23,1926
Mar. 27,1926
Apr. 12,1926
do.

Apr.
May
May
June
June
June

24,1926
13,1926
22,1926
3,1926
4,1926
22,1926

D
AB
A
A
AB
C
BC
C
C
AB
A
C
A

12600 Nov. 6,1924
6154 Feb. 24,1902
5355 May 1,1900
5539 Aug. 3,1900
9158 May 12,1908

50,000
25,000
25,000
35,000
25,000

1,000. 00
48, 250. 00
154,875. 00
120, 400. 00
52,000. 00

50, 000
25, 000
50, 000
35, 000
200, 000

July 2,1926
July 6,1926
do
July 8,1926
July 9,1926

C
AB
C
AC
D

23,800. 00
24, 000. 00
9,800. 00

23, 800. 00
24, 000. 00
9,800. 00

9301 Nov. 14,1908
7326 June 17,1904

50,000
25, 000

111, 500. 00
66, 750. 00

50, 000 July 14,1926
25,000 July 22,1926

A
C

5,950. 00

5,950. 00

50, 000
25,000
25, 000

273,900. 00
37, 500. 00
15, 500. 00

50,000
do
25, 000
do
25,000 July 23,1926

C
C
A

49,100. 00

49,100. 00
11, 600. 00

6704
10773
8262
11564
6178
10411
10428
8655
6967
12250
1880
4921
7377
5453
9714
4700
8520

Feb. 14,1903

12239
9161
8032
9530
10683
8369
8358
2363
9014

3226 July
6731 Apr.
10725 Apr.

9,1884
9,1903
7,1915

Feb. 6,1926
Feb. 10,1926
Feb. 25,1926
Feb. 27,1926
Mar. 1,1926

c
A
A
C
A
C
C
C
C
C
C
C

c
c
c
c

134,245
306,880
1,208, 552
318, 602
115, 739
944, 632
187, 074
171,465
2,318,247
894,382
739, 072
301,119
452, 241
192, 334
382, 589
261,882
453,008
167, 604
110, 573
570,110
89, 022
235,288
258, 931
277,896
690, 033
391,138
272, 920
419, 317
294,947
433, 771
292, 337
351,858
411, 089
162, 551
149,410
387,988
334,020
251,640

TABLE N O . 43.—National banks in charge of receivers during year ended October 81,1930, capital at date of organization and at date of failure, 00
causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the to
United States to redeem circulation, and total deposits at date of suspension—Continued
[A=Incompetent management.

B = Dishonesty. C = Local financial depression from unforeseen agricultural or industrial disaster. D = Receiver appointed to levy and collect stock
assessment covering deficiency in value of assets sold. E = Temporary suspension]
Organization

N a m e and location of bank

1019 First National Bank, Woonsocket, S. D a k . . .
1021 First National Bank, Eldorado, 111
1023 First National Bank, Colman, S. D a k
1024 First National Bank, Waubay, S. D a k
1025 First National Bank, Akron, Colo
1026 Oakes National Bank, Oakes, N . D a k
1027 National Farmers Bank, Owatonna, M i n n .
1028 Anamoose National B a n k , Anamoose, N .
Dak
1029 First National Bank, Veblen, S. D a k
1030 Farmers National B a n k in Lidgerwood, N .
Dak.
1031 Farmers & Merchants National Bank, Merced, Calif
1033 First National Bank, Lake N o r d e n , S . Dak___
1034 First National Bank, Fulda, M i n n
1035 First National Bank, Boswell, Okla
1036 National Bank of Franklin, Franklin, T e n n .
1037 Farmers & Merchants National Bank, Lake
City, S C
1038 City National Bank, Bismarck, N . D a k
1039 American National Bank, Atoka, Okla
1040 England National Bank, Little Rock, Ark_ _
1041 First National Bank, Broken Bow, Okla
1042 First National B a n k , Haworth, Okla
1043 First National B a n k , Clearbrook, M i n n
L044 First National B a n k , Toledo, Iowa
1045 First National B a n k , Gonvick, M i n n
L046 First National B a n k , Kingsburg, Calif
L049 First National B a n k , Milbank, S. D a k
1050 First National Bank, Armstrong, Iowa
1051 Citizens National Bank, Spencer, Iowa




Charter
No.

Date

Capital

Total dividends paid
during existence as a
national
banking
association

Failures

Capital

Receiver
appointed

Total
deposits at
date of suspension

$24,500.00
6, 250.00
19,800.00

$15,000.00
49,100.00
24,500.00
6,250. 00
19,800.00
24, 500. 00
74,550. 00

$195,852
285,868
262,019
171, 508
282,358
216,250
1,446,671

Sept. 18,1926
do

AC
C

24,400. 00
9,700. 00

24,400. 00
9, 700. 00

84,022
141,176

A

280,454

B
A
C
C
B

35,000.00
24,500.00
96,600.00

1,128,135
236,796
325,328
264,025
468,950

97,600.00
49,400.00
23,600.00

719,644
849,178
88,780

5,950.00

5,950.00

24,300.00
83,800.00
24,400.00
24,750.00
33,500.00
49,500.00

24,300.00
83,800.00
24,400.00
24,750. 00
38, 500. 00
49, 500. 00
49, 295. 00

97,796
88,516
110,669
419,005
165,807
440,180
332,973
267, 387
466,656

$98,050.00
75,250. 00
62,400. 00
42, 500. 00
129,250. 00
26,000.00
199,200.00

$50,000
50,000
25,000
25,000
40,000
25,000
75,000

9390
9858
12743

Mar. 24,1909
Aug. 16,1910

25,000
25,000

41,750.00
46,975.00

25,000
40,000

Sept. 21,1926

10352
10714
6054
7651
1834

Jan.
Mar.
Dec.
Feb.
May

4,1913
3,1915
14,1901
16,1905
25,1871

100,000
25,000
25,000
35,000
60,000

26,000.00
18,250.00
84, 562. 50
75,447.00
592,150.00

100,000
35,000
25,000
50,000
100,000

Sept.
Oct.
Oct.
Oct.
Oct.

10681
9622
8994
9037
10424
10500
11392
6432
10830
8409
6473
» 5442
6941

Dec.
Nov.
Dec.
Feb.
July
Mar.
June
Aug.
Feb.
Sept.
Oct.
May
Aug.

26,1914
12,1909
26,1907
6,1908
3,1913
13,1914
30,1919
19,1902
23,1916
14,1906
16,1902
1,1900
11,1903

100,000
50,000
25,000
100,000
25,000
25,000
25,000
50,000
25,000
25,000
25,000
50,000
50,000

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
118, 797.39
89, 500. 00
175, 750. 00

100,000
50,000
25,000
300,000
25,000
25,000
25,000
85,000
25,000
50,000
50,000
50,000
100,000

do
do
N o v . 1,1926
doN o v . 2,1926
do
do
.
N o v . 3,1926
N o v . 5,1926
N o v . 9,1926
N o v . 15,1926
N o v . 17,1926
Nov. 19,1926

25,000

Circulation
outstanding
at date of
failure

C
AB
C
C
C
C
AC

$25,000
25,000
25,000
25,000
25,000
25,000
80,000

25,000

Lawful
money
deposited

23,1926
6,1926
19,1926
20,1926
26,1926
4,1926
10,1926

5946 Aug. 6,1901
7539 Dec. 17,1904
6688 Feb. 20,1903
6124 Jan. 31,1902
8548 Feb. 4,1907
6988 Mar. 21,1903
4928 M a y 29,1893

M a y 11,1925

Apparent
cause
of
failure

July
Aug.
Aug.
Aug.
Aug.
Sept.
Sept.

23,1926
5,1926
7,1926
8,1926
18,1926

C
A
C
D
A
C
C
C
C
A
AC
C
AC

35,000.00
24, 500. 00

49, 400.00

First National Bank, Detroit Lakes, Minn..
First National Bank, Terril, Iowa
Citizens National Bank, Petty, Tex_
Clarinda National Bank, Clarinda, Iowa
First National Bank, Marked Tree, Ark
First National Bank, Leeds, N. Dak
Farmers National Bank, Brookings, S. Dak.
First National Bank, Alta, Iowa
First National Bank, Elkton, S. Dak
Planters National Bank, Honey Grove, Tex._
First National Bank, Malvern, Iowa
First National Bank, Stanley, N. Dak
First National Bank, Haleyville, Ala
National Bank of Oakesdale, Oakesdale,
Wash-...
First National Bank, Plattsmouth, Nebr
First National Bank, Adair, Iowa
Citizens National Bank, Ortonville, Minn_._
First National Bank, Collinsville, Okla
Citizens National Bank, Royal, Iowa
Monticello National Bank, Monticello, Ind_.
First National Bank, Card well, Mo
First National Bank, Nevada, Iowa
..
First National Bank, Benwick, Iowa
First National Bank, Moulton, Iowa
First National Bank, Delano, Calif
National Bank of Jersey ville, Jerseyville, I1L
First National Bank, Argyle, Minn
First National Bank, Boyceville, Wis
Citizens National Bank, Commerce, Tex
Citizens National Bank, Lone Oak, Tex
First National Bank, Beardsley, Minn
Farmers National Bank, Red Lake Falls,
Minn...
__
First National Bank, Biggsville, 111
First National Bank, Edgeley, N. Dak
Farmers National Bank of Lidgerwood,
N. Dak
_
First National Bank, Britt, Iowa
First National Bank, Montevideo, Minn
Peoples First National Bank, Olivia, Minn.. _
First National Bank, Clinton, Minn
Citizens National Bank, Albert Lea, Minn..
First National Bank, Marengo, Iowa
First National Bank, Allegan, Mich
First National Bank, Rolette, N. Dak
Farmers & Merchants National Bank,
Mount Morris, Pa.__
First National Bank, Rush City, Minn
Central National Bank, Marietta, Ohio
American National Bank, Stigler, Okla
First National Bank, Belle Plaine, Iowa
First National Bank, Dunbar. Pa




10647
3112
11122
6312
6462
7126
6368
4112
2247
9472
11613

Dec.
July
Oct.
Dec.
Dec.
June
Aug.
Jan.
July
Aug.
Feb.
June
Feb.

21,1885
17,1912
15,1914
26,1883
17,1917
9,1902
29,1902
21,1904
19,1902
14,1889
9,1875
15,1909
9,1920

50,000
25,000
50,000
50,000
25,000
25,000
50,000
50,000
25,000
75,000
50,000
25,000
25,000

218,000. 00
29, 250.00
33,100.00
206,817. 64
14,600. 35
35,000.00
83,050.00
111, 500.00
47, 250.00
272,250.00
272,000.00
27,000.00
6,000.00

50,000
25,000
37,000
50,000
50,000
25,000
50,000
50,000
25,000
100,000
50,000
25,000
25,000

N o v . 23,1926
.—.do
Nov. 24,1926
Nov. 29,1926
Nov. 30,1926
Dec. 1,1926
Dec. 3,1926
do
do
Dec. 6,1926
Dec. 10,1926
Dec. 15,1926
Dec. 17,1926

A
AB
C
A
C
A
C
C
C
C
A
C
A

9150
1914
8699
6747
9965
10395
6172
11919
2555
7988
5319
9195
4952
5907
11128
12778
12760
7438

Apr. 25,1908
Dec. 12,1871
Apr. 29,1907
Apr. 18,1903
Mar. 20,1911
Apr. 10,1913
Mar. 10,1902
Jan. 15,1921
Aug. 3,1881
Nov. 24,1905
Apr. 5,1900
July 1,1908
Mar. 31,1894
June 18,1901
Dec. 8,1917
June 10,1925
M a y 18,1925
July 7,1904

25,000
50,000
25,000
25,000
25,000
25,000
25,000
50,000
50,000
25,000
25,000
25,000
50,000
25,000
25,000
50,000
25,000
25,000

33,250.00
276,000.00
51,427.38
54, 500.00
25, 500.00
19,750. 00
88,000.00
4,000.00
287,250.00
15,250.00
111, 100.00
69, 500.00
97,500. 00
112, 500.00
4,750.00

25,000
50,000
35,000
25,000
25,000
35,000
50,000
50,000
75,000
25,000
35,000
100,000
50,000
50,000
25,000
50,000
25,000
25,000

Dec. 21,1926
do
Dec. 27,1926
Jan. 4,1927
Jan. 5,1927
do
Jan. 7,1927
Jan. 8,1927
Jan. 10,1927
Jan. 13,1927
Jan. 14,1927
do
Jan. 15,1927
Jan. 18,1927
do
_.
Jan. 20,1927
do
Jan. 21,1927

A
AB
AC
AB
C
C
D
C
C
C
C
AC
AB
C
AB
AC
C
C

25,000.00
48,600.00
8,750.00

9837 July 19,1910
3003 Apr. 10,1883
7914 Aug. 29,1905

25,000
50,000
25,000

16, 500.00
230,000.00
170,050.00

25,000 Jan. 24,1927
50,000 Jan. 31,1927
85,000
do

A
D
AC

24, 700.00
15,300.00

3426

37,000.00

8230
5020
6860
9063
7161
6128
2484
1829
7866

Apr.
Aug.
May
Feb.
Feb.
Jan.
May
May
July

30,1906
13,1895
25,1903
25,1908
13,1904
22,1902
25,1880
11,1871
24,1905

35,000
50,000
30,000
25,000
25,000
50,000
50,000
50,000
25,000

67, 250.00
172,250.00
77,000.00
40,000.00
70, 250.00
110,000.00
277, 500.00
272,050.00
18,000. 00

50,000
50,000
50,000
25,000
25,000
50,000
65,000
50,000
25,000

Feb. 1,1927
do
Feb. 5,1927
do
Feb. 10,1927
Feb. 18,1927
do._
do
Feb. 19,1927

D
C
AC
AC
C
AC
C
BA
C

6954
5212
7432
2012
7576

Sept. 22,1903
Aug. 1,1903
M a y 29,1899
Sept. 14,1904
M a y 31,1872
Jan. 20,1905

25,000
25,000
100,000
25,000
50,000
50,000

29,000.00
64, 500.00
245,000.00
12, 500. 00
369,800.00
61,000. 00

25,000
50,000
300,000
25, 000
60,000
50,000

Feb. 21,1927
do
Feb. 24,1927
Mar. 1,1927
Mar. 3,1927
Mar. 7,1927

A
AC
C
C
AC
A

24,600.00
48,300.00

25,000.00
6,250.00

24,600.00
49, 500.00
48,300.00
24, 700. 00
49,200.00
48, 695.00
25,000.00
18,400.00
12, 500.00
6, 250.00

23,700.00
48,600.00

25,000.00
48,600. 00
8,750.00
15,400.00
6, 500.00
23,700.00
48,600.00

6,250.00
33,800.00
96, 400.00
24,400.00

73, 300.00
6,250.00
33,800.00
96, 400.00
24,400.00

708, 512
279,722
60,141
599,132
107,658
128, 672
986, 711
453, 681
244,641
213, 872
231, 793
196,761
135,382
92,829
287, 703
198, 284
265,030
302,024
177, 897

24,997.50

37, 397
273, 261
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

24, 700.00

49, 600.00
12, 500.00

296, 700. 00
24, 500. 00
10,000. 00

44, 300.00
29,495.00
6, 250.00
20,000.00
49, 397. 50
49, 600.00
46,900.00
12, 500.00

708, 295
626,407
296,939
162,825
887, 404
755,896
581,948
153,926

24, 500. 00
48,400. 00
296, 700. 00
24, 500. 00
59,100.00
48,100.00

310,148
359,940
1,957,190
276,557
805,991
366, 597

TABLE N O . 43.—National banks in charge of receivers during year ended October 81, 1930, capital at date of organization and at date of failure, CO
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
[A=Incompetent management. B = Dishonesty. C=Localfinancialdepression from unforeseen agricultural or industrial disaster. D = Receiver appointed to levy and collect stock
assessment covering deficiency in value of assets sold. E = Temporary suspension]
Organization
Name and location of bank

1116
1119
1120
1121
1122
1123
1124
1125
1126
1128
1130
1131
1133
1134
1135
1136
1138
1139
1140
1141
1144
1145
1146
1147
1148
1149
1150
1151

Exchange National Bank, Leon, Iowa
First National Bank, Hartley, Iowa
First National Bank, Norway, Iowa
United States National Bank, Dinuba, Calif.
First National Bank, Lepanto, Ark.
Provident National Bank, Waco, Tex
First National Bank of Benson, Hollsopple,
Pa
First National Bank, Sheldon, Iowa
American National Bank, Green City, Mo..
First National Bank,