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ANNUAL REPORT OF THE Comptroller of the Currency DECEMBER 12, 1927 UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON 1928 TREASURY DEPARTMENT Document No. 2991 Comptroller of the Currency CONTENTS Page Submission of the report 1 Legislation „ 1 Nine months' operation of the act of February 25, 1927, commonly known as the McFadden National Bank Act: Statement relative to 1, 2 Branch banking: Statement relative to 3 Domestic branches of national banks— Table showing, by States, number and manner of acquisition of branches, as of October 31, 1927 3-7 Table, by States, of branches authorized and in operation year ended October 31, 1927 . 7-10 Investment securities: Statement relative to 11 Regulations issued by comptroller further defining the term of, Series I 11 National banks in the trust field: Statement relative to 12,13 Organization and liquidation of national banks, year ended October 31, 1927, and since establishment of the system 13-15 National-bank failures 15-19 Bank failures other than national. 19 * National-bank circulation: Statement relative to > 19, 20 United States Government securities held in trust by Treasurer June 30, 1927, to secure, etc >_-_ 20 Bond transactions relative to, year ended October 31, 1927 20, 21 Monthly statement of capital stock of national banks, national-bank notes, and Federal reserve bank notes outstanding, bonds on deposit, etc 21,22 Redemption of national and Federal reserve bank circulation, year ended June 30, 1927 22,23 Condition of national banks at date of each report called for during vear ended October 31, 1927 I —_ 23,24 Condition of national banks October 10, 1927: Comparison of principal items of resources and liabilities __. . - _ 24, 25 Principal items of resources and liabilities, by States 26, 27 National-bank liabilities on account of bills payable and rediscounts since June 30, 1926 28 Loans and discounts of national banks June 30, 1927: Statement relative to „_-_ „. 29 Classification of, for the last three fiscal years__. 29 Classification of, by reserve cities and States 30-33 Comparative statement of, for the last three fiscal years, banks in central reserve and other reserve cities, all reserve cities, and elsewhere..-„i „._ 34 Comparative changes in demand and* time deposits, loans and discounts, United States Government and other bonds and securities, and the amount of lawful reserve of national banks since June 30, 1923 34, 35 United States Government securities held by national banks in reserve cities and States June 30, 1927: Classification of . 35-37 Investments of national banks: Comparison of, June 30, 1926 and 1927 . 38 United States Government, domestic, and foreign bond, securities, etc., owned by national banks June 30, 1927: Classification of, by reserve cities and States . ., 39-43 HI IV CONTENTS Savings depositors and deposits in national banks June 30, 1927: page Statement, by reserve cities and States, showing number of banks reporting savings deposits, number of banks maintaining separate savings departments, number of sayings depositors, amount of savings deposits, and average rate of interest paid 44-46 Per capita individual and savings deposits in all reporting banks June 30, 1927: Statement, by States, showing approximate population, individual deposits, per capita individual deposits, savings deposits, and per capita savings deposits 46, 47 Earnings, expenses, and dividends of national banks, year ended June 30, 1927: Statement relative to 48 Comparison of, years ended June 30, 1926 and 1927 49 Abstract of— By reserve cities and States 50--60 By Federal reserve districts 61, 62 National-bank investments in United States Government and other bonds and securities, etc., loans and discounts, and losses charged off on account of bonds and securities and loans and discounts, years ended June 30, 1918 to 1927 63 Number of national banks, capital, surplus, net addition to profits, dividends, and percentage ratios, years ended June 30, 1914 to 1927__.» 63 National-bank examiners, list of, October 31, 1927 64-69 Convictions of national-bank officers and others for violations of the national banking laws during the year ended October 31, 1927, list of _. 69-72 Federal reserve banks: Assets and liabilities of the 12 Federal reserve banks combined, as of the last weekly statement date in October, 1918 to 1927 73 Principal assets and liabilities of the 12 Federal reserve banks combined, on the last weekly statement date in each month, from January, 1923, to October, 1927 74 Percentage of bills discounted secured by United States Government obligations to total bills discounted and purchased by Federal reserve banks at the end of each month, year ended October 31, 1927_ _ 75 Federal reserve bank discount rates in effect November 1, 1927, date established, and previous rate with respect to all classes and maturities of eligible paper 75 Discount rates prevailing in Federal reserve bank and branch cities on bulk of loans of each class made by about 200 representative banks during week ending the 15th of the month, October, 1926, to October, 1927 75-77 Rates for money in New York: Range of, monthly in the year ended October 31, 1927 _ 78, 79 Comparison of range of, annually from January, 1918, to October 31, 1927 80 New York clearing house: Statement relative to transactions of, year ended September 30, 192781 Clearing-house associations in the 12 Federal reserve bank cities and elsewhere : Statement relative to transactions of, year ended September 30,1927_ _ 81 Banks, other than national, June 30, 1927: List of officials of State banking departments and number of each class of banks under their supervision from which reports of condition were received ;— 82, 83 State (commercial) banks, statement and summary relative to 84, 85 Loan and trust companies, statement and summary relative to 85-87 Principal items of resources and liabilities of loan and trust companies in June of each year, 1914 to 1927 _._ 87 Stock savings banks, statement and summary relative to. 88, 89 Mutual savings banks, statement and summary relative to 89, 90 Depositors and deposits in mutual and stock savings banks, by States, June 30, 1926 and 1927 91-93 Number of sayings banks (mutual and stock), number of depositors, amount of individual deposits, and average amount due each depositor in years ended June 30, 1914 to 1927 94 CONTENTS 7 Banks, other than national, June 30, 1927—Continued. Page Private banks, statement and summary relative to 94-96 All reporting banks other than national, statement and summary relative to 96, 97 Resources and liabilities of each class of 98 Principal items of resources and liabilities of, on or about June 30, 1923 to 1927 98,99 Condition of national banks June 30, 1927: Statement and summary relative to 99-101 Banks, all reporting, June 30, 1927; Statement and summary relative to 101-103 Abstract of resources and liabilities of, by States 104-11U Individual deposits in, classification of 112 Resources and liabilities of, years ended June 30, 1923 to 1927 113 Principal items of resources and liabilities of, in the continental United States, as compared with similar data from reporting member banks of the Federal reserve system, on or about June 30, 1927 „ 113 Cash, classification of, held by 114 Resources and liabilities of all reporting banks June 30, each 5-year period, 1890-1925 _ _ 114-117 Money in the United States: Stock of, June 30, 1927, statement relative to ~_ 118 Stock of, years ended June 30, 1914 to 1927 118 United States circulation statement, July 1, 1927 119 Imports and exports of merchandise, gold and silver, calendar years 1914 to 1926, and from January 1 to September 30, 1927 120 Banks in District of Columbia: Number, capital, individual deposits, and aggregate resources of, June 30, 1927 __. 121 Earnings, expenses, and dividends of, other than national, 6 months ended December 31, 1926, and June 30, 1927; statement relative to and comparison of, in years ended June 30, 1926 and 1927 121, 122 Building and loan associations in the District of Columbia: Statement relative to, in the year ended June 30, 1927 122.123 Number of, loans, installments on shares, and aggregate resources, years ended June 30, 1909 to 1927 123 Building and loan associations in the United States: Statistics relating to, by States, in the fiscal year ended 1926 123,124 Mortgage loan investments held by, in 1925 and 1926, by States 125 Failures of, each year 1920 to 1926 125, 126 Monetary stocks in the principal countries of the world: Statistics relating to, at the end of the calendar year 1926 126-130 Federal land banks, condition of, September 30, 1927 131, 132 Joint-stock land banks, condition of, September 30, 1927 132, 133 Federal intermediate credit banks, condition of, September 30, 1927 133, 134 National agricultural credit corporations _ 134, 135 United States Postal Savings System: Statistics relating to activities of, years ended June 30,1926 and 1927. 135-139 School savings banking: Statistics relative to, in each State, in the school years 1925-26 and 1926-27 .... 140,141 Savings banks in the principal countries of the world: Statistics relative to, as of various dates 141-143 Resources of leading foreign banks of issue: Statement relative to, on or about June 30, 1927 144 Expenses of the Currency Bureau: Summary of, in the fiscal year ended June 30, 1927 144,145 VI CONTENTS APPENDIX Pago Digest of decisions relating to national banks 149 TABLES No. 1. Comptrollers and Deputy Comptrollers of the Currency No. 2. Names and compensation of officers and clerks in the office of the Comptroller of the Currency, October 31, 1927 No. 3. Number of national banks organized since February 25, 1863; number passed out of the system, and number in operation October 31, 1927 No. 4. Authorized capital stock of national banks on the 1st day of each month January 1, 1920, to November 1, 1927, bonds on deposit to secure circulation, circulation secured by bonds, lawful money on deposit to redeem circulation, and national-bank notes'outstanding No. 5. National banks reported in liquidation from November 1, 1926, to October 31, 1927, names (where known) of succeeding banks in cases of succession, with date of liquidation and capital No. 6. Capital stock, surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, as amended February 25, 1927, for the year ended October 31, 1927, as shown by their last reports prior to consolidation No. 7. National banks consolidated under act of November 7, 1918, their capital, surplus, undivided profits, and aggregate assets, year ended October 31, 1927 No. 8. State banks and national banks consolidated under act of February 25, 1927, giving their consolidated capital, surplus, undivided profits, and aggregate assets, year ended October 31, 1927 No. 9. Number and capital of State banks converted into national banking associations in each State and Territory from 1863 to October 31, 1927 ..__ No. 10. Conversions of State banks and primary organizations as national banks from March 14, 1900, to October 31, 1927 No. 11. Number of national banks increasing their capital, together with the amount of increase monthly for j^ears ended October 31, since 1922 1 1 No. 12. Number and authorized capital of national banks chartered and the number and capital stock of banks closed in each year ended October 31, since 1913, with the yearly increase or decrease No. 13. Number of national banks organized, consolidated under act of November 7, 1918, insolvent, in voluntary liquidation, and in operation on October 31, 1927 No. 14. Changes of corporate title of national banks, year ended October 31, 1927 No. 15. Changes of corporate title incident to consolidations of national banks, and of State banks with national banks, year ended October 31, 1927 No. 16. National banks chartered during the year ended October 31,1927No. 17. National banks chartered which are conversions of State banks during the year ended October 31, 1927 No. 18. National banks, by States and geographical divisions, organized, failed, and reported in voluntary liquidation during year ended October 31, 1927 . No. 19. Number and classification of national banks chartered monthly during year ended October 31, 1927 No. 20. United States bonds on deposit to secure circulating notes of national banks in years ended October 31, 1900 to 1927 No. 21. United States bonds (circulation)—Monthly range of prices in New York, November 1926, to October, 1927 No. 22. National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 31, each year 1915 to 1927 No. 23. National-bank currency issued to banks monthly from November 1, 1926, to October 31, 1927, and since 1863 — 199 200 202 202 204 209 212 213 214 214 215 215 216 217 218 219 222 223 224 224 225 226 227 CONTENTS VII Page No. 24. National-bank notes received monthly for redemption during year ended October 31, 1927 No. 25. National-bank notes received at currency bureau and destroyed yearly since establishment of the system No. 26. National-bank notes issued and destroyed, etc., account of active, insolvent, and liquidated banks, years ended October 31, 1914 to 1927 No. 27. Amount, denomination, and cost of national-bank currency received from Bureau of Engraving and Printing, year ended October 31, 1927 No. 28. Vault account of currency received and issued by currency bureau during the year and the amount on hand October 31, 1927__ No. 29. Vault account of currency received and destroyed during year ended October 31, 1927 . _-_ No. 30. Amount of currency received for redemption, by months, during the year ended June 30, 1927, and counted into the cash of the National Bank Redeniption Agency No. 31. Amount of currency received by National Bank Redemption Agency for redemption in year ended June 30, 1927, from principal cities No. 32. Cost of redemption of national bank notes during year ended June 30, 1927 No. 33. Classification of Federal reserve currency redemptions, the amount redeemed, number of notes, cost of redemption per 1,000 notes, and amount assessed upon Federal reserve banks on account of expenses, year ended June 30, 1927 No. 34. Taxes assessed on national-bank circulation, years ended June 30, 1864 to 1927; cost of redemption, 1874 to 1927; cost of plates, etc., 1883 to 1927 No, 35. Federal reserve notes outstanding according to weekly statements (amount issued by Federal reserve agents to Federal reserve banks, less "unfit" notes redeemed), and collateral security therefor, from November 3, 1926, to October 26, 1927 No. 36. Federal reserve notes printed, issued to banks, retired, and destroyed since organization of the banks, with the balance in vaults and amount outstanding October 31, 1927 No. 37. Aggregate amount of Federal reserve bank notes printed, issued, canceled, and redeemed, by denominations, since the inauguration of the Federal reserve system, and amount on hand and outstanding October 31, 1927 No. 38. Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates for years ended June 30, 1915 to 1927-_ No. 39. National banks in charge of receivers year ended October 31, 1927, capital and surplus at date of organization and at date of failure, causes of failure, dividends paid while solvent, and circulation outstanding, etc „. No. 40. National banks in charge of receivers year ended October 31, 1927, dates of organization, appointment of receiver, and closing, with amounts of nominal and additional assets, amounts collected from all sources, loans paid, and losses on assets, etc..^ No. 41. National banks restored to solvency after having been placed in charge of receivers No. 42. Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927 No, 43. Dates of reports of condition of national banks from 1914 to 1927__ No. 44. Condition of foreign branches of National City Bank and Chase National Bank, New York, N. Y., and First National Bank, Boston, Mass., on June 30, 1927___ _, No. 45. Number, capital stock paid in, circulation outstanding, and aggregate assets of national banks at date of each report from February 28, 1920, to October 10, 1927, money in the United States etc No. 46. Abstract of the resources and liabilities of national banks in New York, in the two central reserve cities, in other reserve cities, and elsewhere, at close of business October 10, 1927__ 227 228 228 229 229 229 229 230 230 231 232 233 234 235 235 236 250 282 283 295 296 302 303 VIII CONTENTS No. 47. Classification of deposits of national banks in reserve cities and States at date of each call during year ended October 10, 1927_ _ No. 48. Cash in vaults of national banks in reserve cities and States at date of each call during year ended October 10, 1927 No. 49. Circulation of national banks in reserve cities and States at date of each call during year ended October 10, 1927 No. 50. Gold and silver coin, certificates, legal tenders, and other currency held by national banks at date of each report from January 13, 1914, to October 10, 1927 No. 51. Gold, etc., held by national banks in the city of New York at date of each report from January 13, 1914, to October 10, 1927 No. 52. Reserve held by national banks at date of each report from September 11, 1917, to October 10, 1927 I_ No. 53. Reserve computation of national banks in reserve cities and States at date of each call during year ended October 10, 1927_ _ No. 54. Aggregate resources and liabilities of national banks at date of each report from February 28, 1920, to October 10, 1927 No. 55. Abstract of reports of condition of national banks in reserve cities and States at date of each call since June 30, 1926 No. 56. Abstract of reports of condition of national banks in each Federal reserve district at date of each call during year ended October 10, 1927 No. 57. Classification of loans, investments, and deposits of national banks in June of each year from 1914 to 1927 No. 58. Principal items of resources and liabilities of national banks, arranged alphabetically by counties in each State, March 23, 1927 No. 59. Principal items of resources and liabilities of national banks, arranged alphabetically by counties in each State, by Federal reserve districts, March 23, 1927 No. 60. Abstract of reports of earnings, expenses, and dividends of national banks, in reserve cities and States, for the six months ended December 31, 1926___ No. 61. Abstract of reports of earnings, expenses, and dividends of national banks, by Federal reserve districts, for the six months ended December 31, 1926 No. 62. Abstract of reports of earnings, expenses, and dividends of national banks, in reserve cities and States, for the six months ended June 30, 1927 No. 63. Abstract of reports of earnings, expenses, and dividends of national banks, by Federal reserve districts, for the six months ended June 30, 1927 No. 64. Abstract of reports of savings and State banks in the District of Columbia at date of each report during year ended October 10, 1927 No. 65. Abstract of reports of loan and trust companies in the District of Columbia at date of each report during year ended October 10, 1927 No. 66. Principal items of resources and liabilities of each savings and State bank in the District of Columbia, October 10, 1927 No. 67. Principal items of resources and liabilities of each loan and trust company in the District of Columbia, October 10, 1927 No. 68. Principal items of resources and liabilities of savings and State banks in the District of Columbia on or about October 1, 1914 to 1927 No. 69. Principal items of resources and liabilities of loan and trust companies in the District of Columbia on or about October 1, 1914 to 1927 No. 70. Individual statements of resources and liabilities of the 22 building and loan associations in the District of Columbia, June 30, 1927 No. 71. Summary of resources and liabilities, receipts and disbursements of building and loan associations in the District of Columbia for the six-month period ended on or about December 31, 1926 Page 304 320 326 329 331 333 334 342 351 468 476 479 537 601 612 614 626 628 629 630 633 635 635 636 638 CONTENTS IX Page No. 72. Summary of resources and liabilities, receipts and disbursements of. building and loan associations in the District of Columbia for the six-month period ended on or about June 30,-1927 No. 73. Abstract, bp States, of resources and liabilities of State (commercial) , savings and private banks, and loan and trust companies on or about July 18, 1890 No. 74. Abstract, by States, of resources and liabilities of national banks July 18, 1890 No. 75. Abstract, by States, of resources and liabilities of all reporting banks on or about July 18, 1890 No. 76. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about July 11, 1895 No. 77. Abstract, by States, of resources and liabilities of national banks July 11, 1895 No. 78. Abstract, by States, of resources and liabilities of all reporting banks or on about July 11, 1895 No. 79. Abstract, by States, of resources and liabilities of State (commercial) , savings and private banks, and loan and trust companies on or about June 29, 1900 No. 80. Abstract, by States, of resources and liabilities of national banks June 29, 1900 No. 81. Abstract, by States, of resources and liabilities of all reporting banks on or about June 29, 1900 No. 82. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about May 29, 1905 No. 83. Abstract, by States, of resources and liabilities of national banks May 29, 1905 No. 84. Abstract, by States, of resources and liabilities of all reporting banks on or about May 29, 1905 No. 85. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 30, 1910 No. 86. Abstract, by States, of resources and liabilities of national banks June 30, 1910 No. 87. Abstract, by States, of resources and liabilities of all reporting banks on or about June 30, 1910 No. 88. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 23, 1915 No. 89. Abstract, by States, of resources and liabilities of national banks June23, 1915 No. 90. Abstract, by States, of resources and liabilities of all reporting banks on or about June 23, 1915 No. 91. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 30, 1920 No. 92. Abstract, by States, of resources and liabilities of national banks June 30, 1920 Isio. 93. Abstract, by States, of resources and liabilities of all reporting banks on or about June 30, 1920 No, 94. Abstract, by States, of resources and liabilities of State (commercial), savings and private banks, and loan and trust companies on or about June 30, 1925 No, 95. Abstract, by States, of resources and liabilities of national banks June 30, 1925 No. 96. Abstract, by States, of resources and liabilities of all reporting banks on or about June 30, 1925 No. 97. Abstract, by States, of resources and liabilities of State (commercial) banks June 30, 1927 No. 98. Abstract, by States, of resources and liabilities of loan and trust companies June 30, 1927 No. 99. Abstract, by States, of resources and liabilities of stock savings banks June 30, 1 9 2 7 _ ..... 639 640 642 646 650 654 658 662 666 670 674 678 682 686 690 694 698 702 706 710 714 718 722 726 730 734 742 750 X CONTENTS Page No. 100. Abstract, by States, of resources and liabilities of mutual savings banks June 30, 1927 754 No. 101. Abstract, by States, of resources and liabilities of private banks June 30, 1927 758 No. 102. Abstract, by States, of resources and liabilities of all reporting banks other than national June 30, ,1927 i 762 No. 103. Abstract, by States, of resources and liabilities of national banks June 30, 1927 770 No. 104. Aggregate resources and liabilities of State (commercial) banks June, 1923 to 1927 778 No. 105. Aggregate resources and liabilities of loan and trust companies June, 1923 to 1927—--. 778 No. 106. Aggregate resources and liabilities of stock savings banks June, 1923 to 1927 779 No. 107. Aggregate resources and liabilities of mutual savings banks June, 1923 to 1927 779 No. 108. Aggregate resources and liabilities of private banks June, 1923 to 1927 780 No. 109. Gold, silver, etc., held by banks other than national June, 1914 to 1927 780 No. 110. Chartered banks of Canada, condition of, September 30, 1927- _ 781 No. 111. Chartered banks of Canada, monthly statement showing principal items of resources and liabilities, year ended September 30, 1927 781 No. 112. Comparative statement of the transactions of the New York Clearing House in each year ended September 30, 1854 to 1927 782 No. 113. Comparative statement of the clearings, etc., of the New York Clearing House, years ended September 30, 1927 and 1926___ 783 No. 114. Exchanges, balances, percentages of balances to exchanges, and percentage of funds used in settlement of balances by the New York Clearing House, years ended September 30, 1893 to 1927-__ 783 No. 115. Comparative statement of the exchanges of the clearing houses of the United States for years ended September 30, 1927 and 1926 784 No. 116. Comparative statement of transactions of clearing house associations in the 12 Federal reserve bank cities and in other cities with transactions of $1,000,000,000 and over in years ended September 30, 1927 and 1926 787 No. 117. Number and liabilities of State, private, and national banks which failed in each State, six months ended December 31, 1926 788 No. 118. Number and liabilities of State, private, and national banks * which failed in each State, six months ended June 30, 1927_ _ 790 No. 119. Number and liabilities of State, private, and national banks which failed in each State, year ended June 30, 1927 792 No. 120. Number, assets, and liabilities of State (commercial), savings banks, loan and trust companies, private and national banks which failed in years ended June 30, 1914 to 1927 794 No. 121. Statements of resources and liabilities of the individual national banks (States, Territories, and towns arranged alphabetically) at close of business October 10, 1927. [Omitted from this report and published as a separate table.] REPORT OF THE COMPTROLLER OF THE CURRENCY TREASURY DEPARTMENT, OFFICE OF THE COMPTROLLER OF THE CURRENCY, Washington, December 12, 1927. SIR: I have the honor to submit the following annual report, in accordance with the provisions of section 333, of the United States Revised Statutes, covering activities of the Currency Bureau, in the year ended October 31, 1927. This is the sixty-fifth report made to the Congress since the organization of the bureau. LEGISLATION I make no recommendation to the Congress for the enactment of new legislation. But nine months have elapsed since the passage of the act of February 25, 1927, which amended the national banking laws. Too short a time has elapsed to allow banking to fully adjust itself. I feel, therefore, that no further banking legislation is necessary at this time. NINE MONTHS' OPERATION OF THE ACT OF FEBRUARY 2 5 , 1 9 2 7 , COMMONLY KNOWN AS THE M ' F A D D E N NATIONAL BANK ACT, AMENDING THE BANKING LAWS This legislation had its origin in the specific recommendations made to Congress by my predecessor, Mr. Henry M. Dawes, who assumed office in theT spring of 1923 and one of the first things to engage his attention w as the competitive status of the national banks with commercial banks operating under State charters. In the late summer of 1923, the comptroller initiated a nation-wide investigation through the chief national bank examiners in each Federal reserve district, the aim of which was to gather and collate expert and technical recommendations for changes in the national banking laws. Each chief national bank examiner was instructed to confer with the leading bankers in his district and to make recommendations to the comptroller for new legislation based upon the practical needs of the national banks in the respective Federal reserve districts. By the end of September, 1923, there was before the comptroller a considerable number of recommendations from the field. In the meantime he had called upon experts in the bureau at Washington to make recommendations relative to the need for specific legislation growing out of the administrative experience of the office for a decade or more past. 2 REPORT OF THE COMPRTOLLER OF THE CURRENCY While these technical investigations and researches were in progress the comptroller conferred with a large number of bankers, both State and National, and with Federal reserve officials, with a view of developing a policy upon the basis of which he might make recommendations to Congress for new legislation. With this mass of material before him, the comptroller induced several bankers of wide banking experience to sit with him and his counsel as a voluntary committee for the purpose of selecting from the numerous recommendations for new legislation the particular features which should form the basis of his recommendations to Congress. In the course of a month this committee had agreed upon what was thought to be the essential needs of the national banks for changes in their charter powers. The data thus selected was then cast into the form of a draft of a bill. This draft was next referred to each of the chief national bank examiners in the 12 Federal reserve districts with instructions to consult again with leading bankers and to make recommendations for any changes. Members of the Banking and Currency Committees were kept in touch with these proceedings. After numerous conferences on the draft during which every phase of the commercial, industrial, and agricultural life of the country was taken under consideration in their relationship to the national banking system, the comptroller was able to lay before Congress his final recommendations. The bill was introduced by Chairman McFadden on February 11, 1924 (H. K, 6855, 68th Cong., 1st sess.). In the comptroller's report for 1924 there was laid before Congress convincing evidence of the urgent need for the broadening of the charter powers of the national banks, as provided by the bill, in order to save the national banking system from ultimate extinction. That report showed that the national banks were gradually declining in relative strength, having during the*preceding six years lost more than $2,230,000,000 to the State systems. , Subsequent developments during the three years the bill was before Congress served only to emphasize the trend toward disintregration in the national banking system. In my report to Congress for the year 1926 I pointed out that during the three-year period ending with September, 1926, 253 national banks entered the State systems, taking with them aggregate resources of more than $1,000,000,000. The aggregate resources of the national banks had dropped from 75 per cent of the total of commercial banking resources in the United States in 1884 to about 46 per cent in 1926. In this connection it was freely predicted by the supporters of the so-called McFadden bank bill that its enactment by Congress would bring new life to the system of national banks because under the proposed act national banks would be able to perform every phase of banking carried on by State banks and trust companies. The McFadden Bank Act was approved by the President on February 25, 1927, and although it is too early to judge its full effect—the act having been in operation for less than nine months—it has fully justified itself, as the additions to the resources of the national banking system have more than offset the losses during the three-year period prior to the enactment of the act. KEPORT OF THE COMPTROLLER OF THE CURRENCY BRANCH BANKING The establishment of new state-wide branches within the Federal reserve system was brought to an end by the act. Four of the leading State branch banking institutions have become national banks and are now operating under the restrictions upon branch banking which the act provides. There was no rush to acquire city branches following the authorization for their establishment by national banks, as only 127 new branches have been established with the approval of the Comptroller of the Currency under the act since February 25,1927. Prior to the passage of the act there were in the system 165 branches due to conversions and consolidations of State banks into national banks; 202 additional offices which had previously been approved by the Comptroller of the Currency under the authprity of the opinion of the Attorney General of the United States were converted into branches under the terms of the act; and 5 branches granted in the District of Columbia under the authority of the Millspaugh Act. Since February 25, 1927, 400 new branches were added to the system through consolidations and conversions of State banks. Since the State banks had these 400 branches before their conversions or consolidations, their addition to the national system did not add to the total of branch banks in the United States. The act, therefore, may be said to have added to the number of branch banks in the United States the number of new city branches established and approved by the Comptroller of the Currency under the provisions of the act, namely, 127, one of which was subsequently abandoned. DOMESTIC BRANCHES OF NATIONAL BANKS Table showing number and manner of acquisition of branches of national banks as of October 81, 1927 Charter No. Title and location Additional offices that became branches Feb. 25, 1927 Branches by conTotal Branches Branches version or number authorin operaconsoliized of tion on dation branches act of Feb. 25, under State Oct. 31, of Feb. 1927 banks 25, 1927 since 1927 Feb. 25, 1927 CALIFORNIA 2491 3538 12454 12545 7G32 9502 12385 3050 9655 13044 Los Angeles-First National Trust & Savings Bank, Los Angeles Merchants National Trust and Savings Bank of Los Angeles.. „ Pacific National Bank of Los Angeles Seaboard National Bank of Los Angeles United States National Bank of Los Angeles Central National Bank of Oakland Pasadena National Bank, Pasadena First National Trust and Savings Bank of San Diego .. Bank of California, National Association, San Francisco Bank of Italy National Trust and Savings Associations, San Francisco 1 1 3 8 1 6 1 1 99 4 3 101 34 8 1 6 1 1 31 11 4 4 1 ' 277 288 DISTRICT OF COLUMBIA 2038 9545 i928 10504 4247 5046 Second National Bank of Washington* District National Bank of Washington * Farmers & Mechanics National Bank of Washington l Franklin National Bank of Washington *. Lincoln National Bank of Washington * Riggs National Bank of Washington i 2 1 1 »Established under authority of the Millspaugh Act of Apr. 26,1922. 1 4 1 2 I 1 1 4 REPORT OF THE COMPTROLLER OF THE CURRENCY Table showing nmnber and manner of acquisition of branches of national banks as of October 31, 1927—Continued Charter No. Title and location 5045 1559 13068 Fourth National Bank of Atlanta Atlanta & Lowry National Bank, AtlantaCitizens <fc Southern National Bank, Additional offices that became branches Feb. 25, 1927 Branches by conBranches Branches version or Total in opera- authorconsoli- number ized of tion on under dation act of State branches Feb. 25, of Feb. Oct. 31, 1927 banks 25,1927 since Feb. 1927 25, 1927 GEORGIA 4 2 9 4 2 9 KENTUCKY 5312 4765 First National Bank of Louisville Citizens Union National Bank of Louisville. Louisville National Bank & Trust Co., Louisville . . National Bank of Kentucky of Louisville.. Newport National Bank, Newport 10836 Calcasieu National Bank of Southwest 109 2164 5161 1 7 1 7 2 1 5 1 1 5 1 LOUISIANA 8 8 MAEYIAND 1384 2499 1337 1413 Citizens National Bank of Baltimore Drovers & Mechanics National Bank of Baltimore - .- - — Farmers & Merchants National Bank of Baltimore . . ._ Merchants National Bank of Baltimore 1 1 1 1 2 2 2 2 MASSACHUSETTS 200 643 11903 12336 615 5155 2504 2153 6077 799 12405 308 2435 688 7595 First National Bank of Boston Atlantic National Bank of Boston Boston National Bank, Boston „ Federal National Bank of Boston National Rockland Bank of Boston National Shawmut Bank of Boston Brockton National Bank, Brockton Safety Fund National Bank of Fitchburg.. Union National Bank of Lowell Merchants National Bank of New BedfordSafe Deposit National Bank of New Bedford Third National Bank & Trust Co. of Springfield Chapin National Bank of Springfield Waltham National Bank of WalthamWorcester County National Bank of Worcester. . . _ 4 2 1 1 1 9 1 1 11 7 1 5 1 11 1 1 1 2 1 7 5 4 2 1 2 1 1 1 1 2 la 1 1 1 2 MICHIGAN 11852 10527 8703 10997 3293 12387 112S9 12288 1918 City National Bank of Battle Creek First National Bank in Detroit National Bank oi Commerce of Detroit First National Bank at Flint Grand Rapids National Bank, Grand Rapids — Merchants & Miners National Bank of Ironwood National Union Bank & Trust Co. of Jackson First National Bank in Pontiac. Second National Bank of Saginaw 20 1 1 1 11 9 1 Pascagoula National Bank of Moss Point- _ 1 1 1 1 MISSISSIPPI 8593 1 31 1 1 1 3 : REPORT OF THE COMPTROLLER OF THE CURRENCY 5 Table showing number and manner of acquisition of branches of national banks as of October 81, 1927—Continued Charter No. Title and location Branches Additionby conBranches version or Total al offices i Branches authorconsoli- number that in operaized of dation became tion on under act branches branches Feb. 25, of Feb. of State Oct. 31, banks Feb. 25, 1927 25, 1927 since Feb. 1927 1927 25, 1927 N E W JERSEY 1209 12338 1436 11744 1444 374 12397 12255 11S2 9312 1316 12631 5215 12524 44-7 1327 9544 12064 First Camden National Bank & Trust Company, Camden First National Bank of East Orange....—. National State Bank of Elizabeth Peoples National Bank of Elizabeth First National Bank of Hoboken First National Bank of Jersey City Franklin National Bank of Jersey City Journal Square National Bank of Jersey City. Union Trust & Hudson County National Bank, Jersey City Broad & Market National Bank & Trust Co. of Newark _ National Newark & Essex Banking Co. of Newark South Side National Bank & Trust Co. of Newark First National Bank of Perth Ainboy Perth Amboy National Bank, Perth Amboy First National Bank oi Plainfield Mechanics National Bank of Trenton. First National Bank of Union City First National Bank of West New York.... NEW YOBK National Commercial Bank & Trust Co. of Albany. _ _ 923 First National Bank of Brooklyn. __ 11768 Community National Bank of Buffalo 12337 Genesee National Bank of Buffalo 9271 National Bank of Far Rockaway 9891 Flushing National Bank, Flushing 11747 American National Bank & Trust Co. of Mount Vernon , 1106 Highland-Quassaick National Bank & Trust Co. of Newburgh 11844 Seventh National Bank of New York 1105 Bowery & East River National Bank of New York 8926 Bronx National Bank of the City of New York 12213 Capitol National Bank & Trust Co. of New York 12874 Central National Bank of the City of New York 2370 Chase National Bank of the City of New York 10778 Chatham Phenix National Bank <fc Trust Co., New York..._ „ 1499 Chemical National Bank of New York 12300 Hamilton National Bank of New York 1352 Hanover National Bank of the City of New York 12550 Jamaica National Bank of New York 12352 Liberty National Bank in New York 733 National Bank of Commerce in New York. 1461 National City Bank of New York 891 National Park Bank of New York 12280 Ozone Park National Bank of New York.. 11034 Public National Bank & Trust Co. of New York. 12398 Queensboro National Bank of the City of New York, post office, Corona, N. Y 11655 Richmond Hill National Bank of New York 12252 Rockaway Beach National Bank of New York .„-........„ * One was abandoned Sept. 29,1927. 1301 1 11 I. i! 6 REPORT OF THE COMPTROLLER OF THE CURRENCY Table showing number and manner of acquisition of branches of national banks as of October 81, 1927— Continued Charter No. Title and location Additional offices that became branches Feb. 25, 1927 3 ranches in operation on Feb. 25, 1927 Branches authorized tinder act of Feb. 25,1927 Branches by conTotal version or number consoliof dation branches of State Oct. 31, banks 1927 since Feb. 25, 1927 NEW YOEK—continued 12123 6198 12284 12538 1226 12122 721 1308 1490 653 9825 Seaboard National Bank of the City of New York Staten Island National Bank & Trust Co. of New York National Bank of Niagara & Trust Co. of Niagara Falls -- National Bank of Rochester Mohawk National Bank of Schenectady Liberty National Bank of Syracuse. Manufacturers National Bank of Troy Utica National Bank & Trust Co., U t i c a Jefferson County National Bank of Watertown - .... .. First National Bank of Yonkers Yonkers National Bank & Trust Co., Yonkers 2 2 1 1 2 2 1 1 1 2 1 1 1 1 2 2 1 1 2 2 1 2 2 2 NORTH CAROLINA 10112 1766 12278 4292 American Exchange National Bank of Greensboro Citizens National Bank of Raleigh Farmers National Bank & Trust Co. of Peoples National Bank of Winston, post office Winston-Salem 1 1 1 1 1 1 5 1 1 OHIO 32 11862 4318 7621 Second National Bank of Cincinnati Brotherhood of Locomotive Engineers Cooperative National Bank of Cleveland Central National Bank of Cleveland City-National Bank of Commerce of Columbus 1 ] 1 1 ] ] 1 ] OREGON 9201 First National Bank of Milton 1 PENNSYLVANIA 247 2781 332 355 6654 51 i 3423 11539 723 542 11476 5459 3604 4192 12573 539 560 4887 First National Bank of Altoona J— Second National Bank of Altoona First National Bank of Chester Delaware County National Bank of Chester Pennsylvania National Bank of Chester. _. First National Bank of Johnstown First National Bank of Philadelphia Tenth National Bank of Philadelphia Broad Street National Bank of Philadelphia Central National Bank of Philadelphia Corn Exchange National Bank of Philadelphia __ Drovers and Merchants National Bank of Philadelphia Franklin Fourth Street National Bank of Philadelphia Manayunk National Bank of Philadelphia Northern National Bank of Philadelphia.. Overbrook National Bank of Philadelphia Philadelphia-Girard National Bank, Philadelphia . . . Southwark National Bank, Philadelphia.. Reading National Bank, Reading 1 1 2 1 1 1 2 1 2 1 1302 I Providence National Bank, Providence. __ < 2 1 1 2 1 1 1 1 1 5 RHODE ISLAND ] 1 1 REPORT OF THE COMPTROLLER OF THE CURRENCY Table showing number and manner of acquisition of branches of national banks as of October 81, 1927—Continued Additional offices that became branches Feb. 25, 1927 Charter No. Title and location 10708 1621 2044 Atlantic National Bank of Charleston Peoples-First National Bank of Charleston. South Carolina National Bank of Charleston Branches by conversion or Total Branches Branches consoli- number in opera- authorof ized dation tion on under act of State branches Feb. 25, of Feb. Oct. 31, banks 1927 1927 25, 1927 since Feb. 25, 1927 SOUTH CAROLINA 2 1 2 5 5 1 1 1 1 TENNESSEE First National Bank of Chattanooga Unaka & City National Bank of Johnson City 3837 City National Bank of Knoxville 150 Fourth & First National Bank of Nashville3032. American National Bank of Nashville 9774 Broadway National Bank of Nashville-.... 1606 6236 1 1 3 2 9 1 VIRGINIA 5150 3917 10194 9885 1111 5229 6126 First National Bank of Abingdon.. Peoples National Bank of Leesburg Seaboard National Bank of Norfolk Virginia National Bank of Norfolk First & Merchants National Bank of Richmond American National Bank of Richmond Fauquier National Bank of Warrenton 1 2 4 1 1 1 1 1 1 1 1 2 5 1 1 WASHINGTON 11280 Dexter Horton National Bank of Seattle , 2 WISCONSIN 12482 American National Bank of Milwaukee Total (158 banks) 8 2 207 165 2 3 127 400 3 899 Includes one afterwards abandoned. Table of branches authorized and in operation year ended October 81 s 1927 Charter No. Title and location Los Angeles-First National Trust & Savings Bank, Los Angeles. With 101 branches, 46 of which are located in Los Angeles and 55 located in California, as follows: Alhambra, 1; Altadena, 1; Avalon, 1; Belvedere Gardens, 1 (post office, Los Angeles); Brawley, 1; Calipatria, 1; Carpinteria, 1; Coalinga, l;Dinuba, 1; El Centra, 1; Exeter, 1; Fillmore, 1; Fresno, 1; Fullerton, 1; Glendale, 2; Guadalupe, 1; Hanford, 1; Huntington Park, 1; Inglewood, 2; Lemoore, 1; Lennox, 1 (post office, Inglewood); Lindsay, 1; Lompoc, 1; Long Beach, 5; Moneta, 1; Montrose, 1; Ocean Park,l; Orcutt, 1; Oxnard, 1; Pasadena, 2; Pine Knot, 1; Porterville, 1; Redlands, 1; San Fernando, 1; San Luis Obispo, 1; Santa Ana, 1; Santa Barbara, 1; Santa Maria, 1; Santa Monica, 1; Santa Paula, 2; Saticoy,l; Strathmore, 1; Tulare, 1; Visalia, 1; Westmoreland, 1; West Hollywood, 1 (post office, Hollywood); Whittier, 1. 3538 Merchants National Trust & Savings Bank of Los Angeles, with 31 branches, 24 of which are located in Los Angeles and 7 located in California, as follows: Bell, 1; Glendale, 1; Huntington Park, 1; Redlands, 1; Riverside, 1; San Bernardino, 1; Vernon, 1. 12454 Pacific National Bank of Los Angeles, with 8 branches in Los Angeles. 12545 Seaboard National Bank of Los Angeles, with 1 branch in Los Angeles. 7632 United States National Bank of Los Angeles, with 6 branches in Los Angeles. 9502 Central National Bank of Oakland, with 1 branch in Oakland. 12385 Pasadena National Bank, Pasadena, with 1 branch in Pasadena. 3050 First National Trust & Savings Bank of San Diego, with 4 branches, 3 of which are located in San Diego and 1 at Coronado. 9655 Bank of California, National Association, San Francisco, with 4 branches, 1 of which is located in San Francisco and 3 located as follows: Portland, Oreg., 1; Seattle, Wash., 1; Tacoma, Wash., 1. 2491 71284°—28 2 8 REPORT OF THE COMPTROLLER OF THE CURRENCY Table of branches authorized and in operation year ended October 81, 1927—Contd. Charter No. 13044 Title and location Bank of Italy National Trust & Savings Association, San Francisco, with 288 branches, 37 of which are located in San Francisco and 251 located in California as follows: Alameda, 1; Alhambra, 1; Anaheim, 1; Anderson, 1; Angels Camp, 1; Arcadia, 2; Areata, 1; Atwater, 1; Bakersfield, 2; Benicia, 1; Berkeley, 1; Beverly Hills, 2; Brawley, 1; Burbank, 1; Burlmgame, 1; Camarillo, 1; Centerville, 1; Chieo, 1; Chula Vista, 1; Colma, 1; Coinpton, 1; Concord, 1; Corning, 1; Coronado, 1; Crescent City, 1; Culver City, 1; Daly City, 1; Danville, 1; Dos Palos, 1; El Centro, 2; Emeryville, 1; Escondido, 1; Eureka, 1; Fairfax, 1; Fillmore, 1; Firebaugh, 1; Fort Bragg, 1; Fortuna, 1; Fresno, 3; Fullerton, 1; Gilroy, 1; Glendale, 2; Gridley, 1; Gustine1; Half Moon Bay, 1; Hanford, 1; Hayward, 1; Healdsburg, 1; Highland Park, 1; Hollister, 1; Hollywood, 3; Huntington Park, 1; Kelseyville, 1; King City, 1; Knights Landing, 1; La Jolla, 1; Lakeport, 1; La Mesa, 1; Lancaster, 1; Lankershim, 1; Live Oak? 1; Livermore, 1; Lodi, 1; Lornpoc, 1; Long Beach, 11; Los Angeles, 38; Los Banos, 1; Los Gatos, 1; Madera, 1; Manteca, 1; Martinez, 1; Marysville, 1; Mayfiold, 1; Mendocino, 1; Merced, 2; Mill Valley, 1; Modesto, 1; Monrovia, 1; Monterey, 1; Morgan Hill, 1; Mountain View, 1; Napa, 1; National City, 1; Newhall, 1; Oakland, 14; Ocean Beach, 1; Ocean Park, 1; Ocean Side, 1; Ojai, 1; Ontario, 2; Orange, 1; Oroville, 1; Palmdale, 1; Palo Alto, 1; Pasadena, 2; Paso Robles, 1; Pescadero, 1; Petaluma, 1; Piru, 1; Pittsburg, 1; Placentia, 1; Pleasonton, 1; Pomona, 1; Redding, 1; Redondo Beach, 1; Redwood City, 1; Reedley, 1; Roseville, 2; Sacramento, 2; Salinas, 2; San Anselmo, 1; San Bernardino, 1; San Bruno, 1; San Diego, 6; San Fernando, l; Sanger, 1; San Jose, 4; San Juan, 1; San Leandro, 1; San Luis Obispo, 1; San Mateo, 1; San Miguel, 1; San Pedro, 1; San Rafael, 1; Santa Ana, 1; Santa Barbara, 2; Santa Clara, 1; Santa Cruz, 2; Santa Maria, 1; Santa Monica, 1; Santa Paula, 1; Santa Rosa, 1; Sausalito, 1; Sawtelle, 1; Selma, 1; Shafter, 1; Soledad, 1; Sonoma, 1; South San Francisco, 1; St. Helena, 1; Stockton, 3; Sunnyvale, 1; Taft, 1; Tipton, 1; Torrance, 1; Tracy, 1; Tulare, 1; Ukiah 1; Vacaville, 1; Vallejo, 1; Venice, 1; Ventura, 1; Visalia, 1; Walnut Creek, 1; Wasco, 1; Watsonville, 2; Wheatland, 1; Willows, 1; Wilmington, 1; Winters, 1; Woodland, 1; Yreka, 1; Yuba City, 1. DISTRICT OF COLUMBIA 9545 1928 10504 4247 5046 Second National Bank of Washington, with 1 branch in Washington. District National Bank of Washington, with 2 branches in Washington. Farmers & Mechanics National Bank of Washington, with 1 branch in Washington. Franklin National Bank of Washington, with 1 branch in Washington. Lincoln National Bank of Washington, with 1 branch in Washington. Riggs National Bank of Washington, with 4 branches in Washington. GEORGIA 5045 1559 13068 Fourth National Bank of Atlanta, with 4 branches, 3 of which are located in Atlanta and 1 at Decatur. Atlanta & Lowry National Bank, Atlanta, with 2 branches in Atlanta. Citizens & Southern National Bank, Savannah, with 9 branches, 1 of which is located in Savannah and 8 located in Georgia as follows: Athens, 1; Atlanta, 4; Augusta, 1; Macon, 1; Valdosta, 1. KENTUCKY 109 2164 5161 5312 4765 First National Bank of Louisville, with 7 branches in Louisville. Citizens Union National Bank of Louisville, with 2 branches in Louisville. Louisville National Bank & Trust Co., Louisville, with 5 branches in Louisville. National Bank of Kentucky of Louisville, with 1 branch in Louisville. Newport National Bank, Newport, with 1 branch in Newport. LOUISIANA 10836 Calcasieu National Bank of Southwest Louisiana at Lake Charles, with 8 branches located in Louisiana as follows: De Quincy, 1; Jennings, 1; Kidder, 1; Lake Arthur, 1; Oakdale, 1; Sulphur, 1; Vinton, 1; Welsh, 1. MARYLAND 1384 Citizens National Bank of Baltimore, with 1 branch in Baltimore. 2499 1337 1413 Drovers & Mechanics National Bank of Baltimore, with 1 branch in Baltimore. Farmers & Merchants National Bank of Baltimore, with 2 branches in Baltimore. Merchants National Bank of Baltimore, with 2 branches in Baltimore. MASSACHUSETTS First National Bank of Boston, with 11 branches in Boston. Atlantic National Bank of Boston, with 7 branches in Boston. Boston National Bank, Boston, with 1 branch in Boston. Federal National Bank of Boston, with 5 branches in Boston. National Rockland Bank of Boston, with 1 branch in Boston. National Shawmut Bank of Boston, with 11 branches in Boston. Brockton National Bank, Brockton, with 1 branch in Brockton. Safety Fund National Bank of Fitchburg, with 1 branch in Fitchburg. Union National Bank of Lowell, with 1 branch in Lowell. Merchants National Bank of New Bedford, with 2 branches in New Bedford. Safe Deposit National Bank of New Bedford, with 1 branch in New Bedford. Third National Bank & Trust Co. of Springfield, with 1 branch in Springfield. Chapin National Bank of Springfield, with 3 branches in Springfield. Waltham National Bank of Waltham, with 1 branch in Waltham. Worcester County National Bank of Worcester, with 2 branches, 1 of which is located in Worcester and 1 at Fitchburg, Mass. 200 643 11903 12336 615 5U5 2504 2153 6077 799 12405 308 2435 688 7595 REPORT OF THE COMPTROLLER OF THE CURRENCY 9 Table of branches authorized and in operation year ended October 81, 1927— Contd. Charter No. Title and location MICHIGAN 11852 City National Bank of Battle Creek, with 1 branch in Battle Creek. 10527 First National Bank in Detroit, with 31 branches in Detroit. 8703 National Bank of Commerce of Detroit, with 1 branch in Detroit. 10997 First National Bank at Flint, with 1 branch in Flint. 3293 Grand Rapids National Bank, Grand Rapids, with 9 branches in Grand Rapids, 12387 I Merchants & Miners National Bank of Iron wood, with 1 branch in Iron wood. 11289 | National Union Bank and Trust Co. of Jackson, with 1 branch in Jackson. 12288 First National Bank in Pontiac, with 1 branch in Pontiae. 1918 Second National Bank of Saginaw, with 1 branch in Saginaw. MISSISSIPPI 8593 I Paseagoula National Bank of Moss Point, with 1 branch bank at Pascagoula, Miss, NEW JERSEY 1209 12338 1486 11744 1444 374 12397 12255 1182 9912 1318 12631 5215 12524 447 1327 9544 12064 First Camden National Bank and Trust Co., Camden, with 3 branches, 1 of which is located in Camden and 2 in Philadelphia, Pa. First National Bank of East Orange, with 1 branch in East Orange. National State Bank of Elizabeth, with 1 branch in Elizabeth. Peoples' National Bank of Elizabeth, with 1 branch in Elizabeth. First National Bank of Hoboken, with 1 branch in Hoboken. First National Bank of Jersey City, with 2 branches in Jersey City. Franklin National Bank of Jersey City, with 1 branch in Jersey City. Journal Square National Bank of Jersey City, with 1 branch in Jersey City. Union Trust & Hudson County National Bank, Jersey City, with 2 branches, 1 of which is in Jersey City and 1 at Bayonne, N. J. Broad & Market National Bank & Trust Co. of Newark, with 2 branches in Newark. National Newark •& Essex Banking Co, of Newark, with 1 branch in Newark. South Side National Bank & Trust Co. of Newark, with 2 branches in Newark. First National Bank of Perth Amboy, with 1 branch in Perth Amboy. Perth Amboy National Bank, Perth Arnboy, with 1 branch in Perth Amboy. First National Bank of Plamfield, with 1 branch in Plainfield. Mechanics National Bank of Trenton, with 4 branehes in Trenton. First National Bank of Union City, with 1 branch in Union City. First National Bank of West New York, with 1 branch in West New York, NEW YORK National Commercial Bank & Trust Co. of Albany, with 2 branches in Albany. First National Bank of Brooklyn, with 1 branch in Brooklyn. Community National Bank of Buffalo, with 7 branches in Buffalo. Genesee National Bank of Buffalo, with 1 branch in Buffalo. National Bank of Far Rockaway, with 1 branch in Far Rockaway. Flushing National Bank, Flushing, with 1 branch in Flushing. American National Bank & Trust Co. of Mount "Vernon, with 1 branch in Mount Vernon. Highland-Quassaick National Bank & Trust Co. of Newburgh, with 1 branch in Newburgh. Seventh National Bank of New York, with 2 branches in New York City. Bowery & East River National Bank of New York, with 23 branches in New York City. Bronx National Bank of the city of New York, with 2 branches in New York City. Capitol National Bank & Trust Co. of New York, with 6 branches in New York City. Central National Bank of the city of New York, with 1 branch in New York City. Chase National Bank of the City of New York, with 20 branches in New York City. Chatham Phenix National Bank & Trust Co., New York, with 13 branches in New York City Chemical National Bank of New York, with 7 branches in New York City. Hamilton National Bank of New York? with 4 branches in New York City. Hanover National Bank of the City of New York, with 11 branches in New York City. Jamaica National Bank of New York, with 1 branch in New York City. Liberty National Bank in New York, with 2 branches in New York City. National Bank of Commerce in New York, with 1 branch in New York City. National City Bank of New York, with 24 branches in New York City. Park Bank of New York, with 4 branches in New York City. , National Ozone Park National Bank of New York, with 1 branch in New York City. !Public National Bank & Trust Co. of New York, with 29 branches in New York City. Queensboro National Bank of the City of New York (oost office, Corona, N. Y.), with 1 branch in New York City. Richmond Hill National Bank of New Yofk, with 2 branches in. New York City, Rockaway Beach National Bank of New York, with 1 branch in New York City, Seaboard National Bank of the City of New York, with 2 branches in New York City. Staten Island National Bank & Trust Co. of New York, with 1 branch in New York City. National Bank of Niagara & Trust Co. of Niagara Falls, with 2 branches in Niagara Fails, National Bank of Rochester, with 2 branehes in Rochester. 1226 Mohawk National Bank of Schenectady, with 1 branch in Schenectady. 12122 Liberty National Bank of Syracuse, with 1 branch in Syracuse. 721 Manufacturers National Bank of Troy, with 2 branches in Troy. 1303 Utica National Bank & Trust Co., Utica, with 2 branches in Utica. 1490 Jefferson County National Bank of Watortown, with I branch in Watertown. 653 First National Bank of Yonkers, with 2 brandies in Yonkers. 9325 Yonkers National Bank & Trust Co., Yonkers, with 2 branches in Yonkers. 1301 923 11768 12S37 9271 9691 11747 1106 11844 1105 8926 12213 12874 2370 10778 1499 12300 1352 12550 12352 733 1401 891 12280 11034 12398 11655 12252 12123 6198 12284 12538 10 REPORT OF THE COMPTROLLER OF THE CURRENCY Table of branches authorized and in operation year ended October 31, 1927—Contd. Charter No. Title and location NORTH CAROLINA 10112 1766 12278 4292 American Exchange National Bank of Greensboro, with 1 branch in Greensboro. Citizens National Bank of Raleigh, with 1 branch in Rajeigh. Farmers National Bank & Trust Co. of Winston-Salem, with 2 branches in Winston-Salem. Peoples National Bank of Winston (post office, Winston-Salem), with 1 branch in Winston-Salem, N. C. 32 11862 4318 7621 Second National Bank of Cincinnati, with 1 branch in Cincinnati. Brotherhood of Locomotive Engineers Co-operative National Bank of Cleveland, with 1 branch in Cleveland. Central National Bank of Cleveland, with 1 branch in Cleveland. City-National Bank of Commerce of Columbus, with 1 branch in Columbus. 9201 First National Bank of Milton, with 1 branch at Freewater, Oreg. OHIO OREGON PENNSYLVANIA 247 2781 332 355 6654 51 1 3423 11539 723 542 11476 5459 3604 4192 12573 539 560 4887 First National Bank of Altoona, with 1 branch in Altoona. Second National Bank of Altoona, with 1 branch in Altoona. First National Bank of Chester, with 2 branches in Chester. Delaware County National Bank of Chester, with 1 branch in Chester. Pennsylvania National Bank of Chester, with 1 branch in Chester. First National Bank of Johnstown, with 1 branch in Johnstown. First National Bank of Philadelphia, with 2 branches in Philadelphia. Tenth National Bank of Philadelphia, with 1 branch in Philadelphia. Broad Street National Bank of Philadelphia, with 2 branches in Philadelphia. Central National Bank of Philadelphia, with 3 branches in Philadelphia. Corn Exchange National Bank of Philadelphia, with 1 branch in Philadelphia. Drovers and Merchants National Bank of Philadelphia, with 1 branch in Philadelphia. Franklin Fourth Street National Bank of Philadelphia, with 2 branches in Philadelphia. Manayunk National Bank of Philadelphia, with 1 branch in Philadelphia. Northern National Bank of Philadelphia, with 1 branch in Philadelphia. Overbrook National Bank of Philadelphia, with 1 branch in Philadelphia. Philadelphia-Girard National Bank, Philadelphia, with 2 branches in Philadelphia. Southwark National Bank, Philadelphia, with 1 branch in Philadelphia. Reading National Bank, Reading, with 5 branches in Reading. RHODE ISLAND 1302 Providence National Bank, Providence, with 1 branch in Providence. SOUTH CAROLINA 10708 1621 2044 Atlantic National Bank of Charleston, with 1 branch in Charleston. Peoples-First National Bank of Charleston, with 2 branches in Charleston. South Carolina National Bank of Charleston, with 5 branches, 3 of which are located in Charleston and 2 located in South Carolina, as follows: Columbia, 1; Greenville, 1. TENNESSEE 1606 6236 3837 150 3032 9774 First National Bank of Chattanooga, with 1 branch in Chattanooga. Unaka & City National Bank of Johnson City, with 1 branch in Johnson City City National Bank of Knoxville, with 1 branch in Knoxville. Fourth & First National Bank of Nashville, with 12 branches in Nashville. American National Bank of Nashville, with 2 branches in Nashville. Broadway National Bank of Nashville, with 1 branch in Nashville. VIRGINIA 5150 3917 10194 9885 1111 5229 6126 First National Bank of Abingdon, with 1 branch in Abingdon. Peoples National Bank of Leesburg, with 1 branch at Upperville. Seaboard National Bank of Norfolk, with 1 branch in Norfolk. Virginia National Bank of Norfolk, with 1 branch in Norfolk. First & Merchants National Bank of Richmond, with 2 branches in Richmond. America National Bank of Richmond, with»5 branches in Richmond. Fauquier National Bank of Warrenton, with 1 branch at The Plains. WASHINGTON 112S0 Dexter Horton National Bank of Seattle, with 2 branches in Seattle. WISCONSIN 12482 American National Bank of Milwaukee, with 2 branches in Milwaukee. REPORT OF THE COMPTROLLER OF THE CURRENCY 11 INVESTMENT SECURITIES The act imposed upon the Comptroller of the Currency the duty of making regulations for the purpose of controlling the business of buying and selling investment securities by national banks. The act itself affirms the basic authority for national banks to enter this field, but limited the operations to the purchase and sale, without recourse, of marketable obligations in the form of bonds, notes, or debentures, commonly known as investment securities under such further definition of the term as may by regulation be made by the Comptroller of the Currency. The regulations were issued on June 30, 1927, in the following language: SERIES I REGULATIONS FURTHER DEFINING THE TERM "INVESTMENT SECURITIES" AS USED IN THE ACT APPROVED FEBRUARY 25, 1927 By virtue of the authority vested in the Comptroller of the Currency by the terms of section 2 (b) of the act approved February 25, 1927, the following regulations further denning the term "investment securities" are prescribed: 1. The business of buying and selling investment securities by national banks is governed by section 5136 of the Revised Statutes of the United States as amended by an act to further amend the national banking laws and the Federal reserve act, and for other purposes, as approved February 25, 1927, as follows: "(b) That section 5136 of the Revised Statutes of the United States, subsection iseventh' thereof, be further amended by adding at the end of the first paragraph thereof the following: "Provided, That the business of buying and selling investment securities shall hereafter be limited to buying and selling without recourse marketable obligations evidencing indebtedness of any person, copartnership, association, or corporation, in the form of bonds, notes and/or debentures, commonly known as investment securities, under such further definition of the term l investment 5 securities as may by regulation be prescribed by the Comptroller of the Currency, and the total amount of such investment securities of any one obligor or maker held by such association shall at no time exceed 25 per centum of the amount of the capital stock of such association actually paid in and unimpaired and 25 per centum of its unimpaired surplus fund, but this limitation as to total amount shall not apply to obligations of the United States, or general obligations of any State or of any political subdivision thereof, or obligations issued under authority of the Federal farm loan act:" 2. An obligation of indebtedness which may be bought and sold by national banks, in order to come within the classification of "investment securities" within the meaning of the proviso of section 5136 above quoted, must be a marketable security as designated by the express language of said proviso. Under ordinary circumstances, the term "marketable" means that the security in question has such a market as to render sales at intrinsic values readily possible. 3. In classifying a given security as marketable the Comptroller of the Currency may in specific cases give consideration to various facts and circumstances, but he will require in all cases the following: (a) That the issue be of a sufficiently large total to make marketability possible. (b) Such a public distribution of the securities must have been provided for or made in a manner to protect or insure the marketability of the issue. (c) That the trust agreement under which the security is issued provides for a trustee independent of the obligor and, in the case of securities issued under a trust agreement executed and delivered after 60 days from the date of the promulgation of these regulations, such a trustee must be a bank or trust company. 4. This series of regulations may be modified, amended, or withdrawn at any time by the Comptroller of the Currency. Signed and promulgated this 30th day of June, 1927. J. W. MCINTOSH, Comptroller of the Currency. 12 REPORT OF THE COMPTROLLER OF THE CURRENCY The effect of these regulations has been to exclude from the investment securities business of national banks all securities which do not conform to the standard set up in the regulations. It is the design of these regulations to carry out the intention of the act to limit the investment securities business of national banks to liquid and readily marketable obligations having a wider distribution than a purely local or restricted market. NATIONAL BANKS IN THE TRUST FIELD The passage of the Federal reserve act empowered national banks to broaden their financial service by acting in a fiduciary capacity. The amendment to the act of 1918 extended the number of fiduciary capacities in which they could act, and from that time on national banks have entered the trust field in increasing numbers, approximately 30 per cent of their number now holding permits from the Federal Reserve Board to do a trust business. The Federal reserve act was made to rest chiefly upon national banks and with a twofold purpose its authors determined to admit this class of banks to the field of the fiduciary. They recognized the justice of permitting national banks to engage in a work performed by other corporations which have entered every branch of the banking field. They saw, too, the advantages to the public of making available as trustees, executors, administrators, guardians of estates, and in other fiduciary capacities the one unified banking system in the United States highly standarized in its practice and regularly supervised by the Federal Government. They recognized in national banks an agency through which trust facilities could be offered in practically every community in the Nation. How far the national banks have penetrated the trust field is indicated by the fact that the assets of the individual trusts being administered by these banks now amount to more than a billion dollars, while corporate trusts amounting to more than two and a half billion dollars are being handled. More than 26,000 individual trusts were being administered by national banks during the past year. The most impressive part of their progress is that the growth has been recorded largely during the past few years. The number of national banks obtaining the right to exercise trust powers is increasing at the rate of more than 200 banks a year. The McFadden Act which became a law on February 25, 1927, gave national banks, among other things, indeterminate charters and assured the institutions that their charters would not expire before the trust functions undertaken were fulfilled. National banks now feel safe in assuming the duties of trustees as well as accepting other fiduciary obligations, no matter how long the period of service promises to be. This was a much needed change in the law and cleared the way for full trust service by thousands of national banks. Two hundred and four national banks were granted authority to exercise trust powers between November 1, 1926, and October 31, 1927, 148 of these permits having been granted since the passage of the McFadden Act, while 235 national banks holding fiduciary permits started to administer trusts during the present year. While nearly a third of all the national banks in the 48 States, Alaska and Hawaii now hold permits to exercise fiduciary powers, REPORT OF THE COMPTROLLER OF THE CURRENCY 13 several hundred have not yet become active in the work. On October 31, 1927, there were 865 national banks which had obtained permits to act in a fiduciary capacity, but had not actually started to exercise trust powers. However, during the year there were 643 national banks which adopted resolutions providing for the organization and operation of trust departments. As the activities of trust departments have grown, so have the earnings that the national banks have reported from this source. Not only has the establishment of trust departments by national banks furnished a service to their communities which was greatly needed, but many banks-have found that the trust departments have been the means of bringing new business to other departments of the bank, and enabled the bank to retain balances upon the death of their customers which would otherwise be diverted to a competing institution. For the year 1927 the earnings of trust departments aggregated $10,811,000. This represented an increase of $2,556,000 over the preceding year and a gain of $4,860,000 over 1925. While progress is being made in spreading intelligence as to what trust departments can do, the declaration that a national bank, and particularly one in the name of which the word "Trust" is not found, is authorized or in a position to administer an estate or other form of trust would be a revelation to perhaps a greater number of potential clients of trust departments than are now served by national banks. However, the number of national banks having authority to exercise fiduciary powers availing themselves of the privilege to include the words "trust company" in their titles is constantly increasing, more than 100 national banks having already obtained permission from this bureau to amend their titles in this respect, and the movement in this direction is universal. ORGANIZATION AND LIQUIDATION OF NATIONAL BANKS There were 7,832 national banking associations in existence at the close of the current year, October 31, 1927. This number was less by 176, or 2.2 per cent, than the number in existence at the close of the preceding year on October 31, 1926. In this connection it is of importance to note that while the number of associations has decreased, their capital and aggregate resources have increased as of the date of the last call, October 10, 1927, compared with aggregate resources on December 31, 1926, the nearest call to the date of my last report, $1,529,975,000, or about 6 per cent, indicating a much healthier and stronger condition in the system as a whole. This bureau is subject at all times to the demand for charters for new national banking associations. One of its most difficult problems is to avoid a conflict between the interests of the applicants and the needs of the community for additional banking facilities. There is a strong tendency on the part of many of those interested in securing charters for new banks to believe and to urge that because they or their associates are willing to risk their personal funds in capitalizing an institution a, charter should be granted. The chances of success based on local banking and business conditions and the responsibility of investing the money of potential depositors which would be attracted to them is given but scant consideration, An analysis of the applications which this office has received for the establishment of 14 REPORT OF THE COMPTROLLER OF THE CURRENCY new banks shows that there is too often a desire to organize banks in localities where the communities are amply served and which would not support new institutions with a likelihood of any fair measure of success. Extreme care should be exercised in granting charters, both for National and State banks. This has been my policy with respect to national bank charters. During the current year only 44 per cent of the number of applications received for the establishment of new national banks was approved, as compared with 52 per cent the previous like period and an average of 72.8 per cent over the eight prior years, with a high of 82.7 per cent just subsequent to the World War. In other words, despite the fact that the number of applications received remains about the same, the number approved by this office is constantly becoming fewer and in the current year a less number of applications was approved than has been approved any year during the past 10-year period. Up to and including October 31, 1927, there have been authorized to begin business 13,136 national banking associations, of which 4,199 were voluntarily closed to discontinue business or amalgamate with other banks, State or National, including those consolidated with other national banking associations under authority of the act of November 7, 1918. Exclusive of banks which failed but were subsequently restored to solvency, the loss to the system by banks liquidated through receiverships was 1,105, the number of these receiverships being a fraction less than S.8 per cent of the total number of banks organized. In November, 1914, there were in existence 7,578 national banks with, capital of $1,072,492,175. Since that date the net increase in the number of banks was 254 and an increase in capital of $430,205,440. The capital of the banks in existence on October 31, 1927, was $1,502,697,615. In this 13-year period 2,484 banks were chartered with capital of $290,275,300. During this period, however, 2,100 associations were closed voluntarily or otherwise. Applications to organize national banks and to convert State banks into national banking associations were received in the current year to the number of 290, with proposed capital stock of $66,420,000. Of the applications pending 129 were approved with proposed capital stock of $35,325,000, 138 rejected with proposed capital stock of $25,225,000, and 59 abandoned with proposed capital stock of $5,485,000. National banking associations to the number of 135, with capital of $43,570,000, were authorized to begin business, of which 3 were located in the New England States, 56 in the Eastern, 22 in the Southern, 23 in the Middle Western, 13 in the Western, and 18 in the Pacific States. The greatest activity as indicated by the number of banks organized was in the following States: New York, 25 banks; New Jersey, 13; Pennsylvania, 18; Texas 11; Minnesota 12; Iowa, 6; and California 14. In other States the number ranged from 1 to 3 banks. It further appears that of the total number of charters issued, 30, with authorized capital of $28,310,000 and resources aggregating approximately $849,381,890, were the result of conversions of State banks—8, with capital of $735,000, reorganizations of State or national banks, and 97, with capital of $14,525,000, primary organizations. The conversions of State banks into national associations brought into the system 298 branches. REPORT OF THE COMPTROLLER OF THE CURRENCY 15 In the year in question 50 national banking associations were consolidated into 25 under authority of the act of November 7, 1918, the capital of the consolidated banks being $33,759,000. In some instances there were reductions in capital and in others increases, but the net result by reason of consolidations was a reduction in capital stock of $407,000. There have been 16 consolidations under the act of February 25, 1927, authorizing the consolidation of State banks with national banks—the aggregate capital of the consolidating State banks being $14,560;000. These banks also brought 105 branches into the national system, and assets aggregating approximately $271,849,456. The voluntary liquidation of 165 associations represented a capital of $37,495,000, while the capital of the 135 insolvent banks was $8,257,000. The net result of the changes hereinbefore mentioned was a decrease for the year in the number of active banks by 176 and an increase in authorized capital stock of $80,565,210. It appears that during the year 238 banks increased their capital in the aggregate sum of $86,184,210. Of this number 73 banks effected the increase by stock dividends, the amount of the increase in this manner being $6,776,350. Of the 165 banks reported in voluntary liquidation 66 with capital of $9,325,000 were acquired by other national banks and 99 with capital of $28,170,000 either entered the State banking system or quit business. NATIONAL BANK FAILURES One hundred and thirty-five national banks, with an aggregate capital of $8,257,000, were placed in charge of receivers during the year ending October 31, 1927. While the number of failures was larger by 44 than the number during the corresponding period covered by my previous report, 111 failed between November 1, 1926, and June 30, 1927, and but 24 failed from July 1, 1927, to November 1, 1927. The low number of failures in this last period of four months together with reports of condition made to this office indicate that the drift is toward a more normal condition in the number of failures. The date that each bank was authorized to begin business, the date of the appointment of its receiver, its capital stock, and its circulation outstanding at date of failure are shown in the appendix of this report. I believe that failures of many banks could have and can be averted if the directors would give closer attention to the affairs of the bank. I am constantly urging that directors exercise the duty placed on them by law and which has been stated in many decisions of the courts; a portion of one decision which I quote: I will say to you, as a matter of law, that a board of directors when they have selected officials, can not leave everything to them. They must do more than select officials. Otherwise they would simply be a nominating committee. They are required to select honest officials, and they are required further to use the same degree of care and prudence that men prompted by self-interest generally exercise in their own affairs. They are required to give direction to the general affairs of the bank and its business policy and have a general knowledge of the manner in which the business is conducted, the character of the investments, and the employment of the resources. A large number of failures occurring in the years 1924 to date have been in some measure due to the too liberal policy of granting charters, 16 REPORT OF THE COMPTROLLER OF THE CURRENCY especially during the inflation period immediately following the war. As I have stated elsewhere in this report, an analysis of the applications which this office has received for the establishment of new banks shows that there is too often a desire to organize banks in localities where the community is amply served by present banking facilities and which would not support new institutions with a likelihood of any fair measure of success. From the date of the first failure of a national bank in the year 1865 to October 31, 1927, 1,173 national banks were placed in charge of receivers. Of this number 68 were restored to solvency and permitted to resume business, leaving 1,105 to be administered by receivers. Of these so administered, 467 are now in process of liquidation, being open receiverships administered by receivers under the supervision of the office of the Comptroller of the Currency, and 638 have been entirely liquidated by receivers and the trusts closed. The capital stock of the 1,173 insolvent national banks at the date of failure was $132,960,420. The capital stock of the 68 national banks that were restored to solvency was $12,020,000. The capital stock of the 1,105 banks that continued in receiverships was $120,940,420. The book or nominal value of the assets of the 1,105 administered receiverships, including assets acquired after suspension, aggregated $732,786,866. Total^collections by receivers to September 30, 1927, from these assets, including offsets, amounted to $407,981,092, TJiere was levied against shareholders of these banks stock assessments aggregating $81,764,440, and in addition to the amount collected from assets, there was collected from these stock assessments the sum of $38,193,221, giving a total collection of $446,174,313 collected from all sources, or 54.8 per cent of total assets and stock assessments. This sum was disbursed as follows: Dividends paid to creditors on claims proved, aggregating $403,005,681 $228, 800, 568 Payments to secured and preferred creditors, including offsets allowed and payments for the protection of assets 172, 026, 619 Payment of receivers' salaries, legal and other expenses 27, 795, 067 Cash returned to shareholders 4,160, 105 Cash balances with the comptroller and receivers 13, 391, 954 In addition to this record of distribution there was returned to shareholders through their duly elected agents, assets of a nominal value of $16,124,930. The 467 national banks that were as of October 31, 1927, still in charge of receivers and in process of liquidation, had assets, including assets acquired subsequent to their failure, aggregating $293,655,868. Receivers had collected from these assets, as shown by their last quarterly reports under date of September 30, 1927, including offsets, the sum of $142,618,070. The capital stock of these banks was $30,824,500, and there had been levied by the Comptroller of the Currency to October 31, 1927, stock assessments against the shareholders in the amount of $26,799,200. From such assessments there had been collected up to and including September 30, 1927, $11,543,865, making collections from all sources in the liquidation of these active receiverships a total of $154,161,935, or 48.9 per cent of such assets and stock assessments, which amount has been distributed as follows: EEPORT OF THE COMPTROLLER OF THE CURRENCY 17 Dividends paid to creditors on claims proved, aggregating $171,755,837 . . $55, 967, 305 Payments to secured and preferred creditors, including offsets allowed and payments for the protection of assets „_„ 75, 459, 894 Payment of receivers' salaries, legal and other expenses 8, 992, 782 Cash returned to shareholders 350, 000 Cash balance with the comptroller and receivers 13, 391, 954 During the year ending October 31, 1927, the liquidation of 46 receiverships was completed and the receiverships closed. These added to the 660 receiverships previously liquidated give a total of closed trusts of 706, in wln cn is included the 68 banks that were restored to solvency, leaving 638 that were liquidated by receivers. The total assets of these 638 receiverships including assets acquired subsequent to suspension, aggregated $439,130,998. The total assessment against shareholders levied by the comptroller aggregated $54,961,240. From the assets the receivers collected, including offsets, $265,363,022, and from stock assessments the receivers collected $26,649,356, making of all collections a total of $292,012,378, or 59.9 per cent of such assets and stock assessments, which sum was distributed as follows: Dividends paid to creditors on claims proved, aggregating $231,249,844. . ___.„ $172, 833, 263 Payments to secured and preferred creditors, including offsets allowed, and payments for the protection of assets 96, 566, 725 Payment of receivers' salaries, legal, and other expenses __. 18, 802. 285 Cash returned to shareholders_ __>__ _„..__ 3, 810. 105 The average percentage of dividends paid on claims proved against the 706 receiverships that have been filially closed was 74.74 per cent. Had offsets, loans paid, and other disbursements been included in this calculation the disbursements to creditors would show an average of 80,95 per cent. Expenses incident to the administration of these closed trusts such as receivers' salaries, legal, and other expenses, amounted to $18,802,285 or 4.28 per cent of the nominal value of the assets administered, or 6.43 per cent of collections from assets and stock assessments. The assessments against shareholders average 53.81 per cent of their holdings and the total collections from such assessments as were levied were 48.49 per cent of the amount assessed. The outstanding circulation of these closed receiverships was $33,670,103 secured by United States bonds on deposit with the Treasury of the United States of the par value of $36,168,350. The financial operations of the division of insolvent national banks from September 30? 1926, to September 30, 1927, were as follows: Receipts: Cash on hand Sept. 30, 1926 Collections during the year, including offsets Total — —— . . 56, 661, 756 Disbursements: Dividends paid -:_„______ Secured and preferred claims paid Expenses paid.- — .— Returned to shareholders in cash ._„ Cash on hand Sept. 30, 1927 . - „____ 20, 767, 826 19, 6605 903 2,829,999 11, 074 13, 391, 954 —— 56, 661, 756 Total— — — — — — — . $13, 209, 261 43, 452, 495 —— — 18 KEPOBT OF THE COMPTROLLER OF THE CURRENCY Closed Active receiverships, receiverships, Total, 1,173 7061 467 Items Total assets taken charge of by receivers Disposition of assets: Collected from assets and offsets allowed Loss on assets compounded or sold under order of court. „ Nominal value of assets returned to ihareholders Nominal value of remaining assets Total Collected from assets and offsets as above Collected from stock assessment _ _ __ Total Disposition of collections: Dividends paid Secured and preferred liabilities paid, including offsets Keceivers' salary, legal and other expenses Amount returned to shareholders in cash ..., Balance with comptroller or receivers Total $439,130,998 $293, 655,868 $732,786,866 265,303,022 157, 643,04G 16,124,930 (2) 142, 618,070 30,045,445 120,992,353 407,981,092 187,688,491 16,124,930 120,992,353 439,130,998 293, 655,868 732,786,866 265,363,022 26,649,356 142, 618,070 11, 543,865 407,981,092 38,193,221 292,012, 378 154,161, 935 446,174,313 172,833,263 96,566,725 18,802, 285 3,810,105 55,967,305 75,459, 894 8,992, 782 350, 000 13,391, 954 228,800,568 172,026,619 27,795,067 4,160,105 13,391,954 292,012,378 154,161, 935 446,174,313 30,824, 500 17, 593,210 132,960,420 53,677,560 11, 342, 260 15, 953,360 26, 799,200 171,755, 837 47,426,610 49, 623,463 81,760,440 403,005, 681 3 102,135, 920 Capital stock at date of failure . . United States bonds held at failure to secure circulating n o t e s 36,084,350 United States bonds held to secure circulation sold and circulation redeemed— 36,084, 350 33, 670,103 Circulation outstanding at failure 54, 961, 240 Amount of assessment upon shareholders 231, 249,844 Claims proved 1 2 8 Includes 68 banks restored to solvency. Accounted for in final settlement with creditors or charged off as loss by order of court. Includes capital stock of 68 banks restored to solvency. Statistics relative to the capital, date of appointment of receiver, and per cent of dividends paid to creditors of 46 insolvent national banks, the. affairs of which were closed during the year ended October 31, 1927, appear in the following table: Title United States National Bank First National Bank Do Farmers National Bank__ First National Bank Do Edwards National Bank First National Bank Do . Do_ . . _ Do._ Do Springfield National Bank__ First National Bank Do Do Do Do. Do Do Do_. . Citizens National Bank First National Bank Do Miners National Bank _ First National Bank Do Do_ First National Bank in-— Location Date receiver appointed Vale, Oreg Nov. 15,1921 Pensacola, Fla -- Jan. 22,1914 Towner, N. Dak ._ Dec. 28,1920 Jan. 28,1921 Cooper, Tex Sept. 16,1921 Joplin, Mont Nov. 30,1921 Burley, Idaho Dec. 12,1921 Booker, Tex _- Jan. 5,1922 ._ Wendell, Idaho Nov. 22,1922 Colusa, Calif Jan. 18,1923 Magdalena, N. Mex Feb. 7,1923 .-_ Rupert, Idaho Apr. 2,1923 Clifton, Ariz Apr. 5,1923 Springfield, Ohio June 1,1923 Nampa, Idaho Big Sandv, Mont _ July 17,1923 July 12,1923 Willow City, N. Dak May 31,1923 Henrvetta, Okla Oct. 8,1923 Lovington, N. Mex Nov. 9,1923 Carter, Mont Nov. 10,1923 Hemingford, Nebr Nov. 21,1923 Tolley, N. Dak Nov. 21,1923 Crosby, N. Dak__ Manville, Wyo - Dec. 11,1923 Dec. 17,1923 Lansford, N. Dak - Dec. 21,1923 _.. Henryetta, Okla Dodson, Mont _. Jan. 21,1924 Lusk, Wyo _ _ _ _ _ Feb. 7,1924 Feb. 20,1924 Clovis, N. Mex Mar. 4,1924 Deming, N. Mex Per cent Capital dividends paid to creditors $75, 000 500, ooa 25, 000 50, 000 25, 000 30, 000 • 25, 000 . 25, 000 • 150, 000 50, 000 25,000, 100, 000 100, 000 200, 000 25, 000 25, 000' 50, 000 30, 000 • 25, 000. 25,000 25, 000 25, 000 25, 000 25, 000 50,000 25, 000 25,000 100,000 40,000 7.25 78.35 24.9 11.75 5.95 37.62 22 50.75 8.9 10.6 15 63.13 11 9 10 30.94 19.25 36.5 59.85 17.3 57.1 59 62.2 - 31.1 3.6 66 29 17.2 19 REPOKT OF THE COMPTROLLER OF THE CURRENCY Location Title First National Bank City National Bank First National Bank Do First National Bank in First National Bank Do Do Corona National Bank___ First National B a n k . . . . Do Do Standard National Bank First National Bank Warren National Bank Stockmens National Bank First National Bank . - Bristow, Nebr_ El Paso, Tex__ Poteau, Okla Minnesota Lake, Minn Clovis, N. Mex Groom, Tex -.- Shellev, I d a h o . . Dell Rapids, S. Dak Corona, Calif_ Hardin, Mont Malta, Mont Steele, N . Dak Washington, D. C Granger, Tex _ Franklin, Ohio... Nampa, Idaho Hawarden, Iowa .._ _ _ _ Date receiver appointed Per cent Capital dividends paid to creditors Mar. May June Aug. Sept Oct. Feb. Sept. Nov. Nov. Dec. Nov. Nov. Jan. Mar. Mav Sept. $40, 000 500, 000 25,000 25,000 50,000 25,000 25,000 60,000 25,000 65,000 60, 000 25, 000 200,000 35,000 25,000 75, 000 50,000 24.1924 8,1924 19,1924 6,1924 4,1924 6,1924 13,1925 27,1925 10,1925 27,1925 28,1925 23,1926 23,1926 12,1927 11,1925 27,1927 15,1927 45.75 48 18.6 86 55 i 112.1 79 25 100 3.5 100 1 100 102.93 100 100 * Principal and interest paid in full. 2 Receiver appointed to complete unfinished liquidation. BANK FAILURES OTHER THAN NATIONAL Information received from the banking departments of the several States shows that during the fiscal year ended June 30, 1927, there were 689 failures of State and private banks, with total liabilities of $206,655,000, as compared with 496 failures of this class of banks the year previous, with liabilities aggregating $147,823,000. Tables showing the number of failures and liabilities of banks other than national and national banks in each State, for the sixmonth periods ended December 31, 1926, and June 30, 1927, together with similar figures for the year ended June 30, 1927, are published in the appendix of this report. The appendix also includes a table showing the number and liabilities of State and national bank failures as of June 30, each year, 1914 to 1927, inclusive. NATIONAL BANK CIRCULATION Notwithstanding a reduction in excess of $1,000,000,000 was effected during the year in the interest-bearing debt of the United States, the amount of bonds eligible as security for national bank circulation on June 30, 1927, was the same as at the close of the prior fiscal year, namely, $674,625,630, and is the limit of the volume of national bank circulation issuable. The eligible bonds consist of $599,724,050 consols of 1930: $48,954,180 Panama Canal 2's of 1916-1938, and $25,947,400 Panama 2's of 1918-1938. # Of these bonds the Treasurer, on June 30 last, held as security for national bank circulation $666,991,130; as security for public deposits, $390,500, and for postal savings $186,200. This leaves only $7,057,800 bonds of these classes held otherwise than by the Treasurer as security for circulation and deposits. The national bank circulation outstanding at the close of the fiscal year aggregated $704,146,267, of which $661,288, 545 was secured by bonds, and the remainder, $42,857,722, was secured by lawful money 20 REPORT OF THE COMPTROLLER OF THE CURRENCY held by the Treasurer of the United States to provide for the redemption of the notes of banks retiring their circulation and on account of associations in liquidation. The stock of money in the country on July 1, 1927, aggregated $8,531,991,679, and# showed an increase of $158,331,450 over the revised figures furnished as of July 1 the year previous. Of the current stock gold coin and bullion amounted to $4,565,070,147, or 53 per cent; silver dollars and subsidiary silver $833,766,816, or 10 per cent, and United States notes, Federal reserve issues and national bank circulation, $3,133,154,716, or nearly 37 per cent. Of the latter amount $2,077,473,195 represented Federal reserve notes and comprise more than 24 per cent of the total circulating medium, while 4 per cent were United States notes and 8 per cent national bank circulation. The paid-in capital of the national banks in existence was $1,480,202,199, and as the amount of bonds eligible as security for national bank circulation is $674,625,630 it will be observed that the circulation issuable by national banks is but 45 J^ P e r cent of the maximum amount authorized by law, namely, the paid-in capital stock. In the table following, disclosing the total of Government securities held by the Treasurer of the United States on June 30, 1927, is shown separately the amount of bonds held eligible for national bank circulation : United States Government securities held in trust by Treasurer of the United States, June 30, 1927 To secure national-bank circulation Issues Consols, 1930 . Panama 2's _ Total Other bonds, notes, and certificates Total... _„___ To secure public deposits To secure postal-savings funds Total held $592, 624, 550 74,366, 580 $342,500 48,000 $153,200 33,000 $593,120, 250 74, 447, 580 666, 991,130 390,500 46,351,000 186,200 165, 299,422 667, 567,830 211, 650,422 666, 991,130 46, 741, 500 165,485, 622 879, 218, 252 In the year ended October 31, 1927, the withdrawal of bonds held by the Treasurer of the United States in trust as security for nationalbank circulation amounted to $40,571,100. The withdrawals by reason of liquidation of banks amounted to $28,140,550, and on account of banks placed in charge of receivers $3,032,550. Bonds held by the Treasurer in trust as security for circulation were augmented to the extent of $41,951,510 on account of deposits made by newly organized banks and by those increasing their circulation. The transactions of the year by months in each account named are shown in the following statement: EEPOET OF THE COMPTROLLER OF THE CURRENCY 21 U?vi(ed States bonds deposited as security for circulation by banks chartered and by those increasing their circulation, together with the amount withdrawn by banks reducing their circulation, and by those closed, during each month, year ended October 81, 1927 Date November December.. 1926 „_.,.___„_. January February. _ March... April -_ May _ June-.... — July... August. ..__ September.October. Total 1927 „ , Bonds deposited by banks chartered and those increasing circulation during the year Bonds withdrawn by banks reducing circulation $2,006, 500 1,087,000 5,377,000 3,957, 250 3", 358, 900 3,2S3,100 7, 598, 050 2,241, 700 5, 557, 010 1,932,000 3,731, 000 1,822.000 141,951,510 Bonds withdrawn by banks in insolvency Bonds withdrawn by banks in liauidation $812, 500 185,000 $371,200 950,000 1,060, 500 411, 200 458,000 1,022,000 2,028, 750 696, 250 556,300 383,000 350,000 1,434, 500 6,024,000 1,340,000 3,397, 550 1,892, 700 3, 353, 550 975,000 4, 602, 550 1, 555,000 3, 229,000 450,000 9,398,000 28,140, 550 \ $37, 500 18,740 571,350 285,460 845, 000 675,000 233,000 6, 500 310,000 50,000 3,032, 5.50 * Includes $7,100,050 deposited by 2-1 of the 135 banks chartered during the year, Monthly statement of capital stock of national banks, national-bank notes, and Federal reserve bank notes outstanding, bonds on deposit, etc. Authorized capital stock of national banks.. Paid-in capital stock of national banks Nov. 1, 1927 Oct. 1, 1927 $1, 502, 697, 615 1, 502, 265, 671 $1,500,437,615 1, 499, 839, 856 $1,422,132,405 1,420, 725, 940 Increase or decrease since above date Increase or decrease since above date Increase of authorized capital stock.. Decrease of authorized capital stock. Increase of paid-in capital s t o c k . . . . . Decrease of paid-in capital stock Nov. 1, 1927 National bank notes outstanding secured by United States bonds..,._____ ___._! National bank notes outstanding secured by lawful | money _____ _—____„! Total national bank notes outstanding.. $2, 260,000 ! $30, 565,219 2,425,815 81,539, 731 Oct. 1, 1927 Net increase.. Net decrease . Nov. 1, 1926 $663,187,030 $662,742,593 $661, 742,830 39,825,664 40,537,019 38,971,702 702,992,694 703,279,612 700,714,532 Increase or decrease since above date Increase secured by United States bonds.. Decrease secured by United States bonds. Increase secured by lawful money _.._ Decrease secured by lawful money Nov. 1, 1928 $424,437 711,355 I 280,918 Increase or decrease since above date $1,424,200 853, 962 2, 278,162 22 REPORT OF THE COMPTROLLER OF THE Monthly statement of capital stock of national banks; national-bank notes, and Federal reserve bank notes outstanding^ bonds on dhpo^i, sfc.v-Continued Nov. 1,1927 Federal reserve bank notes outstanding secured by United States bonds Federal reserve bank notes outstanding secured by lawful money Total Federal reserve bank notes outstanding Oct. 1, 1927 $4, 539,138 $4,638,468 4, 539,138 4, 638,468 Increase or decrease since above date Increase secured by United States bonds.. Decrease secured by United States bonds. Increase secured by lawful money Decrease secured by lawful money Net increase Net decrease On deposit On deposit to secure to secure Kinds of bonds on deposit Federal re- nationalserve bank bank notes notes United States consols of 1930 (2 per cent) United States Panama of 193G (2 per cent) United States Panama of 1938 (2 per cent) Total. 5, 282,658 Increase or decrease since above date $99,330 $743,520 99,330 743,520 National-bank notes of each denomination outstanding One dollar Two dollars Five dollars 48, 567, 520 Ten dollars Twenty dollars 25, 723, 320 Fifty dollars _ One hundred dollars $666,873,290 Five hundred dollars One thousand dollars Fractional parts $592,582.450 $341,447 162,894 145, 705, 320 286, 720, 410 225, 522, 970 24, 902, 850 23,490, 200 87, 500 21,000 61,153 Total 707,015, 744 4,023,050 Total 702,992, 694 Less i 1 v ; ^ J926 Notes redeemed but not assorted by denominations. R E D E M P T I O N OF N A T I O N A L A N D FEDERAL RESERVE B A N K C I R C U L A T I O N During the year ended June 30, 1927, national-bank notes, Federal reserve notes, and Federal reserve bank notes aggregating $1,891,880,562.50 were redeemed in the United States Treasury, at a total expense of $526,093.93. These redemptions included Federal reserve notes amounting to $1,388,590,705; Federal reserve bank notes received from all sources, including Federal reserve banks and branches, $858,910, and nationalbank notes in the sum of $502,430,947,50, the latter amount including $27,203,100 redeemed on retirement account. The national-bank notes were redeemed at an average cost of $0.93 per $1,000; Federal reserve notes received from sources other than the Federal reserve banks, $0.76 per 1,000 notes; canceled and other Federal reserve notes received direct from Federal reserve 23 4EPOET OF THE COMPTROLLER OF THE CURRENCY banks and%ranch#sy S0.36 per 1,000 notes redeemed and redemption on accoimVof #e&&ral reserve bank notes at the rate of $5.45 per 1,000 notes. Statements showing the amount of national-bank notes, Federal •ve notes, and Federal reserve bank notes received monthly K odemption in the year ended June 30, 1927, the source from wi received, and the classification of redemptions, together with tliv jLc*te per $1,000 of national-bank notes redeemed and the rate per 1,000 notes of Federal reserve and Federal reserve bank notes redeemed are published in the appendix of this report. CONDITION OF NATIONAL BANKS AT DATE OF EACH REPORT CALLED FOR DURING THE YEAR Under authority of section 5211, Revised Statutes, national banks were called upon to submit four reports of condition during the year ended October 31, 1927, as of various dates specified by the comptroller. Summaries of resources and liabilities of reporting banks on the date of each report during the year, together with summary for June 30, 1926, are shown in the following statement: Abstract of reports of condition of national banks on dates indicated [In thousands of dollars] M a r . 23, Oct. 10, Dec. 31, J u n e 30, J u n e 30, 1926—7,978 1926—7,912 1927—7,828 1927—7,796 1927—7,804 banks banks banks banks banks EESOUECES Loans and discounts (including rediscounts)1 . . 13,417,674 ^erdrafts 9,719 \j_iited States Government securities nedd _ 2,469, 268 ..her bonds, stocks, securities, etc., owned. 3, 372, 985 Customers' liability account of acceptances232.460 Banking house, furniture and fixtures 632^ 842 Other real estate owned. _„_ 115,869 Lawful reserve with Federal reserve banks. 1,381,171 Items with Federal reserve banks in process of collection „__ ._ 501,409 359,951 Cash in vault . 1,080,617 Amount due from national banks— Amount due from other banks, bankers, 400,822 and trust companies. 899,901 Exchanges for clearing house 97,179 Checks on other banks in the same place._> 69,316 Outside checks and other cash items Redemption fund and due from United 33,023 States Treasurer v United States Government securities borrowed 24,442 , ©onds and securities, other than United 3,173 States, borrowed „ Other assets 213,803 Total.. 13,573,275 9,332 13,647,640 12,662 13,955,696 14,366,926 14,503 2,282, 571 3, 507,821 255,464 644,880 114,108 1,359,386 2,652,367 3,671.313 246,250 663,959 117, 571 1,400,317 2, 596,178 3, 797,040 253,131 080, 218 115, 817 1,406, 052 2,675,542 3,941,438 283,589 698, 516 122,161 1,413,792 543, 268 352, 709 1,124,188 443,145 373, 905 h 026, 760 496, 916 364, 204 1,044,653 502,036 375, 251 1,125,872 423, 766 969,432 117, 264 393,174 626,687 74,304 47,126 426,381 947,946 101, 574 89,480 459,842 790,496 86,479 32,505 32,917 33,079 17,721 14,780 72,928 32,810 23,787 3,299 273,561 4,64p 247,830 3,826 242,405 2,948 219, 742 25,315,624 | 25,683,849 25,699,147 26, 581,943 27,213,824 1,410, 723 1, 216,979 1,460,491 1, 239, 810 1,474,173 1,256,945 1,499,384 1,273,029 477,217 61,308 646,449 38,179 519, 670 70,409 642,558 35,281 508,421 70,326 650,946 36,379 571,482 78,521 649,886 36,107 LIABILITIES 1,412,872 Capital stock paid in Surplus fund Undivided profits, less expenses and taxes 477, 587 paid _ __ 64,618 Eeserved for taxes, interest, etc., accrued. _. 651,155 National banks notes outstanding. _„ 33,794 Due to Federal reserve banks 2 Includes customers' liability under letters of credit 71284°—28 3 24 REPORT OF THE COMPTROLLER OF THE CURRENCY Abstract of reports of condition of national banks on dates indicated—Continued [In thousands of dollars} June 30, Dec. 31, Mar. 23, June 30, Oct. 10f 1926—7,973 1926—7,912 1927—7,828 1927—7,796 1927—7,804 banks banks banks banks banks LIABILITIES—continued Amount due to national b a n k s . 933,661 980,891 976,119 979,814 Amount due to other banks, bankers, and trust companies 1,885,848 1,818,955 1,764,982 1,844,439 Certified checks outstanding 217,123 219,759 200,381 223,884 C ashlers' checks outstanding „ 365, 087 288, 669 201, 921 315,106 Demand deposits . 10, 778, 603 10, 768, 669 10,430, 341 10,923', 729 Time deposits (including postal savings)... 6,313,809 6, 533,442 7,056,467 7,315,624 United States deposits 138, 239 241,945 139, 843 144, 504 Total deposits United States Government securities bor- 29,642,161 SO, 86S, 991 20,912,209 21,775,128 rowed 24,442 23, 787 17,746 17, Oil Bonds and securities, other than United States, borrowed 3,173 3,299 3,826 4,646 Agreements to repurchase United States Government or other securities sold 3,489 18,485 4,480 Bills payable (including all obligations representing borrowed money other than rediscounts) 253,807 391, 593 248,018 306,203 Notes and bills rediscounted 168,149 138,716 92,840 120,024 Acceptances of other banks and foreign bills of exchange or drafts sold with indorsement 95,349 100,652 95,035 111, 010 Letters of credit and travelers' checks outstanding 12,880 7,778 9,812 15,449 Acceptances executed for customers and to furnish dollar exchange less those purchased or discounted 221,131 250,361 242,265 248,184 Acceptances executed by other banks 29,801 23,268 17,636 20,353 50,805 Liabilities other than those stated above. _. 54,546 64,072 57,870 Total- 25,315,624 25,683,849 25, 699,147 C O N D I T I O N OF N A T I O N A L B A N K S OCTOBER 1 0 , 26, 581,943 1,076, SCO 1,894,696 281, 479 227, 217 10,924,311 7, 590,944 255, 624 22,287,238 14, 787 2,948 3,045 235, 759 80, 571 157,422 10,684 278,967 18,414 51,657 27,213,824 1927 The resources of 7,804 reporting national banks October 10, 1927, aggregated $27,213,824,000, the largest amount ever reported in the history of the national banking system, exceeding by $1,529,975,000 the resources reported by 7,912^banks on December 31, 1926. Comparison of the principal items of resources and liabilities follows: RESOURCES Loans and discounts, including rediscounts, amounted to $14,366,926,000, and exceeded the amount in December, 1926, by $793,651,000, The percentage of loans and discounts to total deposits was 64.46, compared with 65.06 on December 31, 1926. Investments in United States Government securities owned were $2,675,542,000, and showed an increase since December last of $392,971,000. Other miscellaneous bonds, stocks, and securities owned, $3,941,438,000, were $433,617,000 more than reported in December. Banking house, furniture, and fixtures, valued at $698,516,000, exceeded the December figures in the sum of $53,636,000, and other real estate owned of $122,161,000 showed an increase of $8,053,000 since December. Amounts due from correspondent banks and bankers, including lawful reserve and items in process of collection with Federal reserve REPORT OF THE COMPTROLLER OF THE CURRENCY 25 banks, totaled $4,378,517,000, and were $158,787,000 less than in December last year. Cash, in vault increased from $352,709,000 on December 31, 1926, to $375,251,000 on October 10, 1927. LIABILITIES Capital stock paid in of $1,499,384,000 exceeded the amount reported in December by $86,661,000, and surplus and undivided profits aggregating $1,844,511,000 exceeded the December figures by $150,315,000. Liabilities for circulating notes outstanding were $649,886,000, and exceeded by $3,437,000 the liability for the notes reported outstanding at the end of the year in 1926. Deposit liabilities were $22,287,238,000, and showed an increase of $1,423,247,000 since December, Included in the classification of deposits are balances due to correspondent banks and bankers, which on October 10,1927, totaled $3,516,359,000, showing an increase since December of $92,718,000; demand deposits, including United States deposits, $11,179,935,000, which were $273,027,000 more than in December, and time deposits, including postal savings, totaling $7,590,944,000, which exceeded by $1,057,502,000 fhe total of time deposits reported in December. Liabilities for money borrowed, on account of bills payable of $235,759,000 and rediscounts of $80,571,000, aggregated $316,330,000 and were $213,979,000 less than on December 31, 1926. Statement showing the principal items of resources and liabilities of these banks in each State, Alaska, and Hawaii, at the close of business October 10, follows: Principal items of resources and liabilities of national banks, October 10, 1927 [In thousands of dollars] Number of banks States, etc. Maine New Hampshire Vermont Massachusetts Rhode Island Connecticut Total New States . 57 55 46 153 13 65 74,712 40,354 37,685 865, 033 34, 518 179, 579 1,231,881 560 3,150,248 502,438 1, 547,860 12,402 160, 004 94,344 Other bonds, stocks, etc., owned Due from Cash in banks and vault other cash items Capital 7,770 5,400 5,110 79,738 4,870 21,702 Profits Circulation outstanding 6,490 4,872 3,253 67,273 4,955 19,997 6,123 3,915 2,520 31, 665 2,963 11,057 58,243 47,499 Surplus 61,032 16, 629 21,860 232,042 15,698 54,797 2,178 1,970 1,105 17,275 1,312 15,061 10,145 6,168 185, 719 6,115 36,682 181,994 402,058 30,523 259, 890 124, 590 106,840 624,648 70,020 317,999 2,153 35,409 18, 630 832,965 249,904 721,329 8,128 64,083 13,304 50,014 1,215, 025 15,898 83,300 46,262 390,832 431 2,454 3,721 50,924 3,146 24, 572 284,274 49,277 151, 267 1,759 18,809 10, 527 338, 747 137,135 47,349 21,785 245,041 83,971 2,465 1,051 18,115 7,762 7,655 515,913 659,372 254,796 10,965 10,822 5,402 121,498 6,227 27,0S0 Aggregate assets Bills payable Rediscounts 5,624 138,811 4,650 62,566 4,259 57,711 19,153 1,240,630 47,541 4,002 252,000 9,811 1,115 1,406 344 12,851 430 2,220 775 187 656 7,084 133 481 167,132 83,116 74,073 1,540,297 65,559 318,724 1,799,259 18,366 9,316 2,248,901 Total deposits England New York New Jersey Pennsylvania Delaware Maryland District of Columbia 294 , Total Eastern States Virginia West Virginia North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee United States Loans, in- Governcluding ment overdrafts securities owned , , , , , , , Total Southern States.... Ohio Indiana „ Illinois Michigan Wisconsin 867 19 84 13 1,837 5,467,296 1,068,859 1,889,713 167 122 76 65 83 63 106 36 32 651 78 141 104 271, 261 129, 591 129, 566 77,497 180,913 123,803 139,788 54,635 81,092 604,959 60,399 778,373 168,056 32,894 17, 658 17,087 13,947 24,921 35,741 17,679 5,474 7,855 116,498 10, 744 40,544 18,399 29,031 20,489 7,267 13,198 14,628 43,629 24,571 14,874 5,373 53,301 8,215 35,139 13,583 6,191 4,421 4,514 2,989 5,209 4,978 5,631 1,697 2,123 21, 589 1,724 2,199,933 359,441 476,376 232, 219 1,064, 740 295,124 251,162 93,815 44,001 139,800 49,270 39,627 338 231 489 133 156 119,472 1,767,107 30,559 13,554 15,188 9,950 17,800 16,890 16,695 5,485 9,075 83,405 7,065 20,831 18,214 22,845 11,585 9,958 4,942 12,940 10,082 12,777 3,703 5,175 4,519 4,386 55,383 23,638 38, 016 24, 245 62,134 45, 579 46, 650 17, 514 25, 460 256,074 19, 946 41, 845 51,003 283,298 70,640 707,487 264,711 161,827 156,990 67,301 209,548 16,374 9,986 22,591 8,149 7,183 120,534 65,322 321,988 74, 591 70, 779 58,930 32,555 99,503 30,515 27,780 44,387 17,348 72,454 22,193 15,499 79,991 3,179 14, 567 11,321 67,010 5,010,917 64,209 799, 559 11,754 20,840 82,165 2, 519,337 34,285 1,133 244 19,664 9,526 264,109 4,831 3,993 138,706 1,017 5,180 6,234,863 2,899 959,151 6,670 3,158,601 257 26,601 484 325,306 166,413 184,667 8,752,292 116,340 316,327 161,754 162,985 115,459 251,418 221,482 195,506 79,455 104,681 903,326 87,206 244,325 216,241 8,216 2,336 2,444 395 1,219 4,972 602 1,073 1,997 4,291 1,100 4,376 535 3,762 413,277 1,070 207, 575 4,757 211,946 707 140,889 1,145 299, 740 1,595 266,599 1,703 245,077 2,641 97,659 1,471 132,872 1,938 1,109,540 1,071 105,791 537 310,502 3,762 268,032 73,659 152, 570 3,060,165 33, 556 26,159 3,809,499 23,641 9,770 40,341 11,158 9,212 719,780 37,219 22,340 353,752 34, 018 1,555,149 14,103 15,973 393,478 11,245 1,957 5,658 6,855 575 7,464 6,020 4,742 1,774 5,545 4,417 5,383 1,378 1,696 23,910 2,410 6,035 2,885 20,278 10,391 6,272 7,982 5,391 9,991 2,920 4,319 43,096 3,494 16, 222 12,876 15,490 1,172 2,711 939 1,879 913,801 442,277 1,841,202 554,335 468,245 _.- 281 286 135 332,903 190, 793 374,800 81,726 37,042 55,172 106,033 49,969 76, 790 9,275 8,180 6,850 135, 920 57, 111 134,152 36, 678 24,040 44,495 20,800 11,215 18, 520 Total Middle Western States „.- 2,049 3,218,117 540,453 845,190 88,5S8 980,397 354,496 222,416 142 98 154 258 74 30 124 29 349 49,830 35,804 130,352 132, 938 45,438 21,388 126,528 15,282 197,562 9,788 10,578 15,752 24,988 11,330 5,798 34,538 5,425 54,322 14,636 11,500 25,182 33,351 13,437 5,235 46,345 2,830 54,982 2,119 1,883 3,243 5,147 2,424 1,463 6,287 996 6,978 20, 683 15,234 52,243 50,297 23,176 10,246 57,478 5,853 93,048 5,845 4,645 14,155 18,532 5,380 2,460 12,480 2,035 27,425 2,629 2,111 7,140 8,675 2,375 1,780 9,085 983 7,380 785 881 3,262 3,397 1,760 586 3,576 343 4,158 3,555 2,261 7,774 9,876 2,345 1, 658 4,202 1,249 6,801 89,559 68,610 201,499 216, 533 87,681 39,247 246,444 27,097 373,423 1,258 755,122 172,519 207,498 30, 540 328,258 92, 957 42,158 18, 748 39, 721 110 95 239 52 20 10 15 156,141 104,100 1,160,215 28,216 30,073 10,854 13, 617 43,169 33, 803 252,462 7,615 5,086 2,434 4,629 54,908 37,805 199,711 7,224 6,986 2,397 2,618 5,744 3,625 21,779 1,166 743 427 947 64,103 38, 951 281, 061 13,391 14,197 3,772 4,999 18, 865 12,160 104, 682 3,635 3,650 1,400 1,525 8,075 5,347 62,137 1,436 1,534 660 372 5,061 3,492 33,142 729 900 213 334 9,427 2,970 37, 528 1,968 2,185 1,193 669 541 1,503,216 349,198 311,649 34,431 420,474 145,917 79,561 43, 871 4 2,063 1,030 664 384 1,084 200 135 2 3,801 2,048 1,368 673 652 600 720 Minnesota Iowa. Missouri.-.. North Dakota South Dakota Nebraska Kansas Montana Wyoming Oolorado New Mexico Oklahoma.. _ » Total Western States Washington Oregon California Idaho Utah Nevada. Arizona - -- Total Pacific States Alaska (nonmember banks) The Territory of Hawaii (nonmember banks) Total ( n o n m e m b e r banks) Total United States, Alaska and Hawaii 10,830 4,190 12, 707 13, 921 15, 038 16,381 598,864 306,042 564,143 721 100 3,351 530 1,989 3,051 687,618 364,073 666,993 121,849 168,993 4,956,168 30,462 15,360 5,938,544 317 37 704 800 73 49 1,435 230 1,848 428 558 2,041 1,491 138 196 1,003 76 3,452 103,151 79,235 237, 708 260,189 99,994 46,045 278,714 32,060 425,877 1,350,093 5,493 9,383 1,562, 973 293,221 201,334 1, 718,453 51, 999 50,243 17,007 25,056 677 135 29,032 418 403 426 451 665 329 3,299 259 94 217 339, 573 226, 987 2,032,127 60,537 59,151 20,934 29,130 55, 940 2,357,313 31,542 4,863 2, 768,439 98 58 4,815 5,310 218 438 7,133 9,223 496 11,948 6 5,864 3,078 2,032 1,057 1,736 800 855 316 7,804 14,381,429 2,675,542 3,941,438 375,251 4,465,349 1,499,384 1,273,029 571,482 649,886 22,287,238 o H a o 14,633 235,759 80,571 27,213,824 fcO 28 BEPORT OF THE COMPTROLLER OF THE CURRENCY NATIONAL BANK LIABILITIES ON ACCOUNT OF BILLS PAYABLE AND REDISCOUNTS The total liabilities of national banks in the 12 Federal reserve districts for money borrowed on account of bills payable and rediscounts amounted to $316,330,000 on October 10, 1927, and showed decreases since June 30 and December 31, 1926, of $206,278,000 and $309,328,000, respectively. On October 10 of the current year bills payable were $235,759,000 and rediscounts $80,571,000. Liabilities of national banking associations in each Federal reserve district at the date of each call since June 30, 1926, are shown in the following statement: Total borrowings of national banks on account of bills payable and rediscounts in each Federal reserve district at date of each call since June 80, 1926 [In thousands of dollars] District No. 1 Dec. 31, 1926: Bills payable Rediscounts Total Mar. 23, 1927: Bills payable Rediscounts „ District No. 2 District No. 3 District No. 4 District No. 5 District No. 6 District No. 7 31,097 56,764 87, 861 168, 781 54,332 37,358 12,546 45,676 14,588 19,486 14,749 9,911 23,233 29,979 30,273 223,113 49,904 60,264 34,235 33,144 60,252 20, 591 9,797 117,895 5,523 34,458 8,145 20,891 5,996 13,763 10,021 14,405 12, 059 25,108 18,544 Total 30,388 123,418 42,603 26,887 23,784 26,464 43,652 June 30, 1927: Bills payable Rediscounts 33,403 15, 028 37,451 9,688 24,197 3,585 19,664 13,049 8,346 12,905 16,390 22,568 47,139 27,782 32,713 21,251 38t958 Total 48, 431 62, 917 8,888 71,805 Oct. 10, 1927: Bills payable Rediscounts 17,941 9,316 73,179 6,541 23t694 7,761 25,917 4,182 19,168 10,706 9,458 10,819 12,744 8,145 Total 27, 257 79, 720 31,455 30,099 29,874 20,277 20,889 District No. 8 District No. 9 District No. 10 District No. 11 District No. 12 Dec. 31, 1926: Bills payable Rediscounts 14,638 8,259 2,442 2,467 2,144 5,055 5,379 4,146 24,702 7,653 391,593 234,065 Total Total 22,897 4,909 7,199 9,525 32,355 625,658 Mar. 23, 1927: Bills payable Rediscounts 7,584 7,007 4,37 2,173 5,295 5,731 5,475 1,102 36,368 6,742 Total 11,591 6,543 11,026 6,577 43,110 306,203 92,840 399,043 June 30, 1927: Bills payable Rediscounts 15, 746 10,903 1,407 2,949 1,468 10,220 6,464 2,874 20,565 7,367 248,018 120,024 Total 26,649 4,356 11,688 9,338 27,932 368,042 Oct. 10,1927: Bills payable Rediscounts 10,980 4,574 1,292 1,692 4,908 9,723 5,176 2,249 235, 759 80, 571 Total 15,554 2,984 14,631 7,425 31,302 4,863 36,165 316,330 29 REPORT OF THE COMPTROLLER OF THE CURRENCY LOANS AND DISCOUNTS OF NATIONAL BANKS Loans and discounts of the 7?796 national banks on June 30, 1927, amounted to $13,955,696,000, in comparison with a total of $13,417,674,000 on June 30, 1926. Of the total loans and discounts in the current year 43.90 per cent was on unsecured time paper indorsed by one or more individual or firm names, 15.87 per cent on time loans secured by stocks and bonds, and 15.93 per cent on demand loans similarly secured. The amount of paper eligible for rediscount with the Federal reserve bank on June 30, of the current year, was $3,361,795,000, or 24.09 per cent of the total loans and discounts, and $109,712,000, or 0.79 per cent was secured by United States Government obligations. Statement showing the classification of loans and discounts reported by national banks for the last three fiscal years ended June 30 follows: Classification of loans and discounts for the last three fiscal years [In thousands of dollars] June 30, 1925 Class On demand, paper with one or more individual or firm names (not secured bycollateral) _ _ On demand, secured by stocks and bonds.. On demand, secured by other personal securities, including merchandise, warehouse receipts, etc__ On time, paper with one or more individual or firm names (not secured by collateral) _ On time, secured by stocks and bonds__._. On time, secured by other personal securities, including merchandise, warehouse receipts, etc. Secured by improved real estate under authority of sec. 24, Federal reserve act, as amended: 1. On farm land 2. On other real estate.Secured by real-estate mortgages or other liens on realty not in accordance with sec. 24, Federal reserve act, as amended: 1. For debts previously contracted (sec. 5137, R. S. U. S.)— (a) F a r m l a n d s . . . „ (&) Other real estate 2. All other real-estate loans— (a) Farmlands _ (&) Other real estate Acceptances of other banks discounted Acceptances of reporting banks purchased or discounted Customers' liability on account of drafts paid under letters of credit _ Total i Not called for separately. June 30, 1926 June 30, 1927 Amount Per cent Amount Per cent Amount 726,100 1,843,167 5.73 14.54 775,107 2,053,871 5.78 15.31 821,795 2,223,557 5.89 15.93 342,914 2.46 300,561 2.37 324,405 2.42 Per cent 6,132,318 1,817,730 48.39 14.34 6,344,135 1,982,754 47.28 14.78 6,125,942 2,215,105 43.90 15.87 1,062,755 8.39 1,133,621 8.45 1,045,178 7.49 122,214 269,247 .96 2.12 123,641 337,393 .92 2.51 165,903 571,468 1.19 123,332 81,874 10,334 29,797 107,767 .97 .65 116,887 92,605 .87 .69 118,032 105,524 .35 .76 .08 .24 11,555 43,371 78,329 .09 .32 .58 21,274 80,324 .15 .57 .67 43,766 3,105 12,674,067 .85 .35 .02 100.00 0) 13,417,674 V) 25,042 0 0) 100.0 13,955,696 .18 0) 100.00 Loans and discounts of national banks June SO, 1927 [In thousands of dollars] On demand Secured by real estate mortgages or other liens on realty not in accordSecured by ance with section 24, improved real Federal reserve act, as estate under amended authority of section 24, 1. For debts Federal previously 2. Allother reserve act, contracted as amended real estate (sec. 5137, loans E . S., U. S.) On time Cities, States, and Territories si 111 6 o i CENTBAL RESERVE CITIES New York Chicago Total central reserve cities.. 41,167 735,383 56,789 892,724 473,975 76, 767 33,396 172,981 49,375 235,443 142,654 38, 667 74,563 908,364 106,164 1,128,167 616, 629 115,434 1,521 519 157 157 2,040 1,416 110 110 1,421 31,024 310 828 580 5,894 2,363 242 1,902 243 877 1,282 995 413 1,088 91 37 13 2,863 667 177 242 190 462 638 1,229 775 49,31318,815 2,348, 645 478,406 17,235 14 8,396 170 681,887 196,035 6,307 7S9 57, 709 18,985 3,030,532 674,441 23,542 OTHER RESERVE CITIES Boston Albany Brooklyn and Bronx Buffalo Philadelphia...... Pittsburgh Baltimore Washington Richmond Atlanta Savannah Jacksonville Birmingham New Orleans „ 43,955 97,625 12,743 222,281 339 24,403 708 24,927 487 34,188 338 11,056 253 1,645 4,787 3, < 25,269 111, 827 14,104 249,505 12,704 69,947 6,399 73, 694 4, 739 21,116 1,747 55,429 4,221 26,394 4,174 42,662 1,174 4,057 1,763 26,001 8,558 1,215 26,103 1,286 6,574 4,068 20,134 816 9,157 1,322 18,651 554 357 21,132 103 793 13,072 1,813 5,090 2,460 3,903 «5j.y 75,227 43, 444 7,816 6,999 19,324 16, 635 7,435 8,746 5,608 2,311 451 1,169 733 15.878 '765 4,975 5,837 4,211 7,540 5,810 2,958 3,781 1,851 181 13 13 99 217 3 41 101 25 453L 659 2,48415,311 305 3,007 1,164 167 332 257 201 7 141 201 446 "I26 634 200 40 "278 310* 94,525 2,283 284 14,070 52,445 14,210 295 14,417 15 725 503,709 138,645 3,325 210,350 57,848 2,581 96,617 22,314 776 92,872 12,984 575 57,295 10.084 281 62,797 17,500 264 47, 223 182 9,415 45,945 13,831 408 32,165 12,875 121 81 5,850 540,068 Dallas - El PBSO Fort Worth Oslveston Houston San Antonio Waco Little Rock Louisville TVIflmnhis "N"ashville - — Cleveland C olumbus Toledo Trdianapolis Chicago Peoria Detroit Orand RaDids IXJilwPukee Minneapolis St Paul Cedar Rapids Des Moines "Dublin uo Sioux City _ Kansas City, Mo St. Joseph St Louis Lincoln Omaha Kansas City, Kans Topeka Wichita Helena Denver Pupblo Muskogee Oklahoma City Tulsa Seattle Spokane Portland Los Angeles Oakland San Francisco Ogden Salt Lake City.. _._ Total other reserve cities Total all reserve cities 1,645 30 867 433 5,400 1 140 728 8 3 296 113 584 5 276 4 731 4,052 1 015 1 472 2,165 2,126 1,244 378 12 199 11, 470 9 159 434 1,385 958 1,401 2,876 471 19,686 398 1,296 73 342 163 170 484 2 595 49 1,667 2,305 2,220 820 2,402 9,919 6 308 36*616 95 932 1,857 23 1,866 3,380 2,653 333 669 390 10,212 1,330 508 3 498 2,952 2,627 16 819 770 11 868 5,227 8,477 1,063 712 2 673 797 5 049 6,586 1,286 3,868 1,044 431 10,655 406 46 10 419 2,807 6,619 19,951 15 707 515 3,810 45 1,712 913 88 215 432 470 8,076 2,990 3,115 145 35,135 12,970 127 99 1,214 4,071 1,045 144 97 157 1,750 400 142 7,214 292 7,873 1,384 4 341 13, 581 4,384 311 41,076 9,160 23,002 6,890 29, 700 14,660 5,500 1,705 28,676 4,286 25,242 11,007 22,427 22,898 1,600 33,319 13,896 7,997 57,795 11,338 52,666 45,090 20,878 5,099 5,101 1,143 7,641 19,387 9,127 81,422 7,809 21,416 2,260 4,307 5,909 1,948 18,738 2,057 2,184 12,501 28,485 30,904 15,257 28,283 111, 145 4,371 170,560 2,524 9,603 17,176 3,272 7,050 2,610 17,572 6,699 1,053 77 13,412 1,616 6,899 6, 552 11,447 15,435 863 7,616 10,374 3,593 55,045 8,397 17,501 16,977 11,925 3, 586 7,203 1,129 1,400 12,816 1,181 47. 663 3, 384 11,338 684 1,194 3,320 463 18, 508 555 1, 577 5, 909 14,454 12, 893 3,275 10, 095 51,769 247 67, 033 903 4, 946 14,859 904 7,722 136 10,822 4,991 1,360 1,521 6,392 2,162 4,455 1,317 1,720 2,369 184 6,098 5,430 1,046 3,031 390 6,429 13,978 2,795 1, 559 3,537 848 3,308 30,976 1,338 24,000 3,060 14,624 2,404 931 5,059 532 15,183 1,177 506 13.877 2, 504 7,764 5,018 5,087 18,077 196 3J5 132 53 156 29 388 34 18 1,620 55 74 95 816 84 40 113 472 114 558 1,227 7,191 717 155 869 381 167 2 83 1,492 322 176 90 73 8 24 364 594 525 55 36 666 121 407 77 214 143 243 415 156 39 49 1,247 913 52 5,506 1,323 248 1,411 161 178 55 385 160 773 20 3,455 32 136 763 86 90 12 656 214 241 261 46 772 547 114 1 128 329 278 1,35 30 1 154 17 109 69 19 50 217 65 7 6 811 19 272 936 30 212 399 4 386 38 580 10 241 16 148 182 100 5 139 79 127 6 392 4 564 115 8 40 61 158 172 54 472 15 353 852 162 404 296 115 4 1 788 389 501 564 411 67 9 121 43 23 45 70 180 438 3 1,108 3 600 4 20 9 5 78 75 250 87,317 14,110 43, 579 17, 998 81, 585 34, 561 10,956 3,991 63,918 12,716 44,075 42,968 66,182 56,011 7,232 54,838 40,789 20,169 134,559 22,555 102,673 116,682 61,690 15,949 20,835 5,436 16,243 78,999 15,484 225,817 15,159 55,119 7,861 7,405 17,223 3,731 63,446 6,384 4,781 38,840 58,253 62,037 28,299 56,840 235,409 19,851 586,118 5,091 20, 047 20,919 5,137 13, 668 7,148 18, 532 11,392 3,400 850 15,376 2,575 7,913 7,984 7,898 9,256 2,500 15,674 7,655 10,142 15, 987 4,751 18,001 32, 391 18,859 3,225 4,861 1,301 6,202 26,204 6,471 68, 556 3,850 15, 284 1, 761 4,446 5,289 1,450 19, 589 2,118 1,561 7,186 7,441 23, 521 6, 598 15, 725 26, 710 4,790 74,123 1,444 6,730 416 26 463 56 647 379 311 40 458 54 184 1,232 440 1,365 249 1,735 597 164 887 79 624 832 845 455 117 75 72 744 281 2,132 299 549 118 129 93 12 672 49 75 543 153 745 75 723 1,081 79 2,859 7 109 113 79 39 71 118 144 66 342 62 176 25 677 16 73 720 411 43 1,174 11 190 75 237 63 111 2,813 230 96 645 67 623 39 9 423 101 387 2,063 100 1,948 21. 543 2,958 1,709 27 134 5,708 2,441 4 202 761 5 719 243 27, 505 40,220 132, 021 5,858 4,427 10,444 34,671 111 8,056 1 48 56 127 11 738 72l 5 4 218 18 154 327 1,735 268,966 711,166 128,108 1, 930,313 828,166 363,516 49, 744 233,419 15, 595 24, 507 12 497 51, 238 23, 725 4, 141 4, 645,101 1, 029,320 35, 800 „ . - 343, 529J1, 619, 530 234,272 3,058,480 1 444, 795 478, 950 49, 901 235,459 15, 705 25, 928 12, 497 52, 027 81, 434 23, 126 7, 675, 633 1, 703, 761 59, 342 45 3,389 8,068 4,756 268 7,961 7,931 2 239 48,353 511 2,110 CO Loans and discounts of national banks June SO, 1927—Continued to [In thousands of dollars] On demand Secured by real estate mortgages or other liens on realty not in accordSecured by ance with section 24, improved real estate under | Federal reserve act, as amended authority of section 24, Federal 1. For debts reserve act, previously 2. All other as amended contracted real estate (sec. 5137, loans R. S., U. S.) On time Cities, States, and Territories If I o COUNTRY BANKS Maine New Hampshire Vermont Massachusetts Rhode Island Connecticut _ Total New England States New York New Jersey Pennsylvania Delaware _ Maryland Total Eastern States Virginia... West Virginia North Carolina 9,732 6,172 6,324 13,138 1,127 11, 689 48,182 33,095 7,905 2,215 17,958 3,073 259 997 17,367 3,593 1,327 953 142,086 63,003 26,397 8,528 551 16,968 6,216j 1,664 3,858 72,013 39,454 3,111 31,578| 269 86,377| 12,694 299,487| 122,477| 17,842 2,925 49,993 86,753 11,146 44, 921 91,704 8,715 103, 281 126,036 10,399 1,981 1,762j 505 8,482 5,1431 1,337 208,658| 311,398' _32,_102 7, 363 j 8,125 3,835 4,510 7,595 372 2,631] 3,107 1,373 275,248 58, 565 246,813 38, 606 368,654 104,446 5,997 654 31, 691 6,749 928,4031 209,020J 124,837 39,122 76,865 29,261 78,756 23,107 13,271 10,374 14,471 101 1, 442! 39,568; 11,395 2,081 11,529 360 5,600 88 936 2,518 155 22, 522 354 1,516 7 10, 604 83 43,696 1,047 1,214 494 707 3,282 29 1,913 7,639 5,204 38,053 2,557 1,289 49,891 503 3,516 7,892 76, 304 1,609 9,183! 371 628 102 132| 413 314! 1, 528| JMJ85 16,541167,304 3, 041 3,3Z0i 6,302 2,17 2,135 555 4,774 237 3,358i 9771 1,016! 2,300 1,3971 95 73,985 39,930 37,385 291,878 33,480 173,542 237 5,542 979 147 1,633 138 730 6,209 1,193 25 373 373!. 512113/757 2, 3lp| 2121 561 3 488 202], 557,519 498,254 830,414 12,167 60, 530 1,958,884 209, 635 130,176 126,491 73 8 1 43 90 40 421 3,992 95 1,369 35 783 650 6,300 650,200 15,001 7,213 8,552 52,250 7,286 27,650 123,952 1,023 615 330 2,092 181 2,074 6/315 147,783 110, 643 128,7621 3,1731 10,939! 401,300' 59, 607 18,399 36,934 3,597 2,878 6,628 218 13,629 1,259 1,415 1,126 South Carolina „ Georgia _ Florida Alabama Mississippi _ Louisiana Texas _. Arkansas Kentucky Tennessee _ _ Total Southern States. Ohio Indiana. —_ __ Illinois Michigan Wisconsin Minnesota _. . Iowa Missouri _ Total Middle Western States North Dakota „ South Dakota Nebraska _. Kansas _ . Montana Wyoming _. Colorado ____ . New Mexico . Oklahoma Total Western States Washington Oregon California _ Idaho Utah Nevada Arizona Total Pacific States. Alaska (nonmember banks') The Territory of Hawaii (nonmember banks) Total (nonmember banks) Total country banks Total United States_.^ 3,050 2,792 2,858 4,282 538 1,191 15,759 975 7,947 3,329 57,225 4,220 1,729 10,021 2, 480 225 2,401 16, 658 4,773 7,435 2,449 2,386 1,649 2,320 2.160 593 809 7,021 1,285 1,162 1,178 35,860 30, 984 37,879 41, 475 24, 378 27,477 114, 571 25,309 64,218 68,514 11,892 6,798 11, 612 6,806 6,869 7,189 19, 743 5,503 14, 360 18,950 71,218 26,143 751,123 201,212 43,387 8,105 26,808 3,110 4,469 7,595 6,675 5,203 37,968 5,060 17,093 ]1,125 6,075 11,244 2,725 2,896 4,479 1,083 3,109 1,482 1,037 2,869 2,142 2,013 137,686 111,813 186,557 73,055 85,628 54,581 75,994 24,938 105,352 94,186 18,214 750,252 33,211 25,770 30, 748 30, 981 27,350 13,464 9,081 3,533 174,138 2,343 865 2,008 5,583 4,079 528 1,759 600 3,419 21,184 209 663 622 4,290 6,485 578 2,421 421 6,422 14,398 13,329 29,811 47,306 12,572 5,740 18,438 4,710 32,063 22, 111 915 270 471 1,380 995 404 640 519 1,143 6,737 178,367 2,761 1,987 1,616 5,397 2,398 3,704 4,326 1,259 5,018 28,466 3,494 9,653 20,492 511 67 2,274 102 3,580 1,886 8,357 328 182 760 1,070 2,156 2,833 5,087 941 18 1,486 72 33,905 18,281 82,460 13,170 2,500 2,491 5,888 5,033 1,385 23,080 1,889 884 586 2,100 36,593 Id, 163 12, 593 158,695 34,957 522 17 99 1,027 37 137 550 1,072 2,557 60 159 108 1,135 3 40 13 248 111 150 256 223 2,574 12,511 8,753 13, 655 22, 038 11,371 8,503 84, 878 9,721 6,239 7,370 1,765 1,760 1,100 1,881 1,860 684 2,797 1,466 2,934 1,621 1 563 1,655| 1,409 3.267 4S2 4,994 2,323 1,876 2, 683 1,015 906 2, 908 2,608 10,490 1,654 2,113 2,959 2,555 1,434 1,379 210,044 22,809 35,909 31, 560 l r 264 t, 558 2, 078 982 994 697 3, 657 769 1,887 1,681 431 U1 44 97 311 24 700 40 317 127 442 12 76,740 77 17 84 60,814 796 87,849 110 23 86,538 5 259 49 51,145 33 6 33 52,861 397 4,635 513 284, 427 29 330 53,967 382 66 112,461 30 18 108,080 22,037 2,105 3,381 5,036 1,382 1,441,184 613 1,396 6,752 8,018 17,385 4,110 5,008 63 326 7,174 6,249 9,055 3,926 2,167 262 93 467 18,106 8,752 6,175 6,155 3,215 470 1,466 395 1,181 80 4,353 5,232 18, 971 456 32 139 9,575 5,289 7,522 1,909 1,410 206 570 1 245 21,807 10,069 5,403 5,460 1,467 277 497 17,109 4,040 2,217 9,608 1,828 224 382 55 7,322 1,339 1,701 1, 537 525 40 92,198 48, 988 68,429 33,100 16,801 2,422 3,331 2,607 18,956 12,420 16,136 28,922 8,960 8,992 17,138 4,966 39, 867 3,449 1,312 1,470 2,626 861 300 1,370 190 1,644 156,357 13, 222 1,438 3,614 673 2,591 569 2,651 1,415 3,326 589 1,256 799 365 746 1,818 437 647 1,635 2,567 7,867 19,269 993 1,532 857 2,249 9,573 4,383 359 1,509 216 399 288 951 295 1,144 50,069 11,261 12,581 12,167 12,252 7,031 17,110 8,697 1,605 1,018 2,356 1,550 822 7,025 995 366 375 128 112 109 26 14 118 108 75 244 138 107 195 62 533 74 435 39 2 5 78 647 8 8 880 506 293 501 3,666 190 157 213 263 5,283 7 76 23 77 500 92 21 39 20 164 8 4 15 67 146 862 300,180 181,089 309,144 150,460 151,179 134,482 132,545 51,102 163 1,410,181 1 379 392 267 474 459 80 717 185 313 85 349 61 18 595 10 345 1,164 343 4,795 1,441 9 8 173 572 104 6 23 7 62 30 76 138 24,480i 571 24, 569 367 23, 977 433 33, 008 489 18,190 343 13, 709 144 120, 930 1,189 19,199 488 22, 914 952 40, 018 3,324 455, 934 12,100 51, 798 51,188 92,312 30, 962 45, 618 44,186 54,834 14,908 385,806 14,062 48,964 34,877 56f 005 101,804 38, 793 21,827 49,302 14,291 95,533 19,100 15,700 23, 243 44,515 11,680 8,668 18,276 5,850 46,191 98 109 98 638 112 101 504 127 695 461, 396 193,223 2,482 65,058 46,239 182,005 28, 772 6,394 10,485 13,580 352, 533 23,063 14,438 35,663 12,031 2,775 2, 532 6,637 497 190 693 201 11 33 130 1, 755 2,035 680 97,139 5,685 12 15 3,650 76 5,081 2,954 2,699 888 997 666 434 363 680 27 478,266 604,027 108, 642 3,067,462 770,310 566,228 116,002 336,009 102,327 79, 596 8,777 28,297 12,204 1,916 6,280,063 1,658,03 i 460,370 821,795 2,223,557 342,914 6,125,942 2,215,105 1,045,178 165,903 571,468 118,032Jl05,o24 21,274 80,324 93,638|25,042 13,955,696 3,361,795 109, 712 34 REPORT OF THE COMPTROLLER OF THE CURRENCY COMPARATIVE STATEMENT OF LOANS AND DISCOUNTS, INCLUDING REDISCOUNTS, MADE BY NATIONAL BANKS DURING LAST THREE FISCAL YEARS The percentage of loans and discounts of national banks in the central reserve cities of New York and Chicago, to the total loans and discounts of all national banks on June 30, 1927, together with similar information in relation to banks in other reserve cities, etc., is shown in the following statement, compared with like information for the fiscal years ended June 30, 1925, and 1926: [In thousands of dollars] Loans Banks in— New York Do . Chicago _Other reserve cities All reserve cities „ . States (exclusive of reserve cities) Total United States June 30, 1925 June 30, 1926 June 30, 1927 Amount Per cent Amount Per cent Amount 2,084, 305 16.45 2, 274, 618 16.95 2,348,645 1G.83 } 2, 694,922 3,994, 646 21.26 31.52 2,914, 668 4,183,155 21.72 31.18 3,030, 532 4,645,101 21.72 33.28 6, 689, 568 5, 984,499 52.78 47.22 7, 097, 823 6,319, 851 52.90 47.10 7, 675, 633 6, 280,063 55.00 45.00 12, 674, 067 100.00 13,417, 674 100.00 13,955, 696 100.00 Per cent COMPARATIVE C H A N G E S I N D E M A N D A N D T I M E DEPOSITS, L O A N S A N D D I S C O U N T S , U N I T E D STATES G O V E R N M E N T A N D O T H E R BONDS A N D S E C U R I T I E S , A N D T H E A M O U N T O F L A W F U L RESERVE O F N A T I O N A L B A N K S S I N C E JUNE 30, 1923 Demand deposits in national banks on June 30, 1927, aggregated $10,923,729,000, which was an increase of 1.35 per cent over June 30, 1926. Time deposits in the sum of $7,315,624,000 were 15.87 per cent more than on the same date of the previous year. Loans and discounts were $13,955,696,000, showing an increase of 4.01 per cent in the year; United States Government and other bonds and securities held, $6,393,218,000, were greater by 9.43 per cent, and the amount of lawful reserve with Federal reserve banks of $1,406,052,000 likewise increased 1.80 per cent in the 12-month period. The percentage of increase or reduction of each of the resource and liability items referred to since June 30,1923, is shown in the following statement: REPORT OF THE COMPTROLLER OF THE CURRENCY 35 [In thousands of dollars] Per cent increase June 30, 1923 Demand deposits Time deposits__ Loans and discounts L . TJuited States and other bonds, stocks, etc Lawful reserve with Federal reserve banks 1 Per cent increase Per cent increase Per cent increase June 30, or de- June 30, or de- June 30, or de- June 30, or de1924 1925 1926 crease 1927 crease crease crease (-) since since since since June June June June 30, 30, 30, 30, 1924 1925 1923 1926 9,288,298 9, 593, 250 +3. 28 10,430, 254 +8.72 10,778,603 +3. 34 10,923,729 +1.35 1, 259,933 +10. 62 5,924,658+12.64 1-12.64 6,313,809 +6.57 7, 315,624 +15.87 {-15.87 4,755,162 5, 11,817,671 Hi., 978, 728 + 1 . 3612,674,067 +5.80 13,417,674 +5.87 13,955,696 +4.01 5, 069, 703 5,142,328 +1.43 5, 730,444 +11.44 5,842,253 +1.95 6, 393,218 +9.43 1,142,736 1,198,670 +4. 89 1,326,864 +10. 69 1,381,171 +4.09 1,406,052 +1.80 Includes rediscounts and customers' liability under letters of credit. UNITED STATES GOVERNMENT SECURITIES HELD BY NATIONAL BANKS I N RESERVE CITIES AND STATES Investments by national banks in United States Government securities on June 30, 1927, aggregated 3,596,178,000, in comparison with $2,469,268,000 on June 30, 1926. Investments by these associations in Liberty loan bonds were $879,698,000, in Treasury bonds $754,537,000, and in all other issues of United States Treasury bonds, including bonds deposited with the Treasurer to secure circulation, $679,281,000. Short-term Treasury notes held were in the sum of $205,996,000, Treasury certificates of indebtedness $60,972,000, and Treasury savings certificates $15,694,000. Classification of these securities held by national banks in reserve cities and States, June 30, 1927, follows: United States Government securities owned by national banks June SO, 1927 [In thousands of dollars] Cities, States, and Territories Liberty loan bonds, all issues All other issues of United States Shortbonds Treas- (includterm ury Treasing bonds bonds ury de- notes posited to secure circulation) 161,952 24,289 273,671 7,927 34,747 4,530 51,216 31,418 3,212 2,831 624,802 70,995 186,241 281,598 39,277 82,634 6,043 595,797 15,686 662 2,850 173 14,586 60,618 45,559 2,722 453 471 17,130 28,525 3,413 1,255 1,238 1,387 7,181 14,373 2,386 910 2,212 69,256 5,549 4,626 2,177 Treas- Treasury ury certifi- savcates ings of in- certifidebtedness cates Total CENTRAL RESERVE CITIES New YorkChicago Total central reserve cities.. OTHER RESERVE CITIES Boston Albany Brooklyn and Bronx Buffalo „ Philadelphia Pittsburgh „ „ ...._-..... ,, 2,974 318 80 146 2,219 810 44,090 104,144 36 EEPOET OF THE COMPTROLLER OF THE CURRENCY United States Government securities owned by national banks June 80, 1937— Continued [In thousands of dollars] All other issues of United Cities, States, and Territories OTHER RESERVE CITIES—continued Baltimore Washington. _. Richmond—-, .__..._ Atlanta Savannah Jacksonville Birmingham , New Orleans Dallas.... El Paso.__ Fort Worth Galveston Houston. San Antonio Waco... Little Rock Louisville-Memphis Nashville ,,, Cincinnati.. .. .... Cleveland Columbus. . Toledo Indianapolis „... Chicago > Peoria.. ...... Detroit. Grand Rapids Milwaukee Minneapolis . St. Paul Cedar Rapids Des Moines Dubuque Sioux City.__ Kansas City, Mo St. Joseph St. Louis Lincoln Omaha Kansas City, Kans Topeka . ..... Wichita Helena..Denver. ... Pueblo Muskogee ... .. . .. Oklahoma City. Tulsa...— Seattle .•_ Spokane... Portland... Los Angeles Oakland San Francisco . Ogden Salt Lake City Total other reserve cities.. Total all reserve cities ... COUNTRY BANKS Maine New Hampshire .. Vermont Massachusetts Rhode Island.... Connecticut Total New England States. Liberty loan bonds, all issues 11,579 7,665 472 4,881 47 6,116 1,050 125 5,343 621 3,124 2,741 3,101 Shortbonds Treas- (includterm ury Treasing ury bonds bonds de- notes posited to secure circulation) 4,494 4,890 . 20 6,120 4,792 165 968 5,365 769 2,180 627 4,390 1,000 1,614 101 4,862 2,309 317 578 13 3,741 3,797 2,193 6,666 3,783 2,683 1,435 1,615 1,913 1,397 5,014 1,254 1,664 725 10,023 104 5,358 3,272 3,007 19,396 7,783 9,264 177 316 842 1,192 1,108 51 952 595 6,020 2,863 309 683 4,642 5,929 297 233 846 2,070 224 336 1,937 458 295 958 388 642 10,202 5,754 1,014 125 2,426 208 8,223 435 1,100 648 3, 864 10, 603 328 201 13, 563 6,498 11,547 4,592 2,788 2 53,706 79,932 207 27 107 1,285 326, 806 308, 853 613,047 590,451 1,753 3,200 567 9, 982 1,304 8,678 25,484 3,058 2,770 309 18,059 105 6,877 31,178 5,819 4,314 1,015 2,647 100 1,559 2,061 1,575 6,412 951 2,582 1,432 5,221 2,902 1,650 15 4,177 50 2,908 1,830 3,642 2,091 500 3,499 2,343 2,290 1,716 4,481 2,947 4,695 1,005 1,657 402 1,106 1,526 378 9,828 578 1,179 829 200 1,514 436 780 1,095 393 2,400 2,657 334 6,228 1,500 21,064 712 1,120 166,170 205,447 7 1,536 1,592 1,438 367 625 3,451 735 849 373 250 10,524 Treas- Treasury ury certifi- savcates ings of in- certifidebtedness cates 347 200 255 3,756 2,125 40 34 14 200 100 1,713 1,408 316 640 443 1,105 1,111 1,037 247 596 644 26 209 3,636 "8,-902 1,070 4, 875 200 20 1,197 716 103 5 4,178 4,159 5 10 292 205 199 325 40 3,725 72 94 3,528 54 1,060 1,343 6, 218 345 300 184 5,862 1,331 3,992 902 ..... 2 30 35 588 33 2,580 100 73, 054 5,848 132 4,801 67 4,476 45 16,695 1,348 4,072 410 10,107 1,144 45,999 1 3J.46 31,521 | 14,017 37,564 14,021 55 118 376 1,186 90 Total 21,899 18, 753 3,299 13, 903 147 17,661 3,649 4,119 22, 730 3,116 8,735 5,187 13,162 8,080 3,264 116 21, 876 1,045 2,921 11, 721 14,352 9,982 3,550 8,516 10,318 5,135 22, 561 1,820 14,201 31,422 21,942 1,703 4,608 1,664 2,658 14; 912 1, 410 28,283 1,185 4,189 1,399 3,727 1,253 1,230 22,337 1,629 4,509 11,126 8,394 22, 798 3,546 20, 579 30, SOU 4,290 159. 598 946 2,617 920, 421 1, 516, 218 10,931 10,957 5,397 46,457 6,159 27,182 107,083 REPORT OP THE COMPTROLLER OF THE CURRENCY 37 United States Government securities owned by national banks June 80, 1927— Continued [In thousands of dollars] Cities, States, and Territories Liberty loan bonds, all issues All other issues of United States bonds Treas- (includury ing bonds bonds deposited to secure circulation) Shortterm Treasury notes Treas- Treasury ury certifi- savcates ings of in- certifi debtedness cates Total COUNTRY BANKS—continued New York.-... New Jersey Pennsylvania.. Delaware.. Maryland Total Eastern States. 18 29,262 23,076 54, 562 803 2,006 12,699 15,313 26,504 112 1,202 32,859 21,862 62,694 1,184 3,855 3,230 6,002 6,825 342 1,263 1,524 2,235 47 157 109, 709 55,830 122,454 16,399 5,226 1,582 580 990 1,326 599 868 2,852 663 376 6,299 931 631 864 19, 844 10,648 9,464 6.588 5,901 4,246 7,984 3,005 2,724 23,041 3,507 12,226 10,305 276 979 950 172 101 22 6 179 18,561 I 119,483 1,023 262 273 254 3,376 481 359 136 8,778 410 95 370 100 226 2,196 871 404 200 2,879 567 268 719 9,305 503 27,640 19,196 26, 746 11, 543 11,976 10,498 11,994 5, 296 636 1,130 3,787 862 1,672 2,343 959 402 270 713 1,891 234 750 421 468 574 37,667 I 124,889 11,791 5,321 1,497 1,973 456 1,827 1,427 687 1,000 1,022 2,574 3,508 2,316 6,166 8,431 3,747 1,960 3,466 1,474 324 1,061 197 690 288 848 580 380 1,740 94 155 71 126 67 91 164 50 508 13 205 309,854 —a Virginia ... West Virginia... North Carolina., South Carolina-, Georgia ... Florida... Alabama Mississippi • Louisiana.. Texas Arkansas Kentucky- „ Tennessee. Total Southern States., 57,416 Ohio........ Indiana Illinois Michigan... Wisconsin.. MinnesotaIowa Missouri 14,452 8,841 24, 949 7, 761 7,134 9,357 9,269 3,423 Total Middle Western States— North DakotaSouth Dakota-. Nebraska Kansas. Montana Wyoming Colorado ... New Mexico... Oklahoma...... 85,186 5,566 5, 800 4,045 5, 241 1.807 8,171 2,148 2,566 483 12,134 4,150 3,997 1,308 Total Western States. 7,631 5,170 8,433 2,260 4,174 4,233 3,456 2,310 m 21 138 22 265,106 1 2 2 13 154 9,981 10.292 10,835 18,289 10,228 5,871 10,344 6,166 31,431 113,435 12,463 37,148 6,108 1,326 232 8,140 5,438 10,494 3,745 2,762 12,036 2,160 445 1,204 847 166 545 899 1,618 569 46 365 34 284 655 1,051 2,415 2, 289 865 3,638 370 115 70 285 Total Pacific States.. Alaska (nonmember banks) The Territory of Hawaii (nonmember banks) ._.....___.. 31,083 7,632 23,199 1,014 358 212 30 Total (nonmember banks). 755 100 758 14,914 9,725 27,718 7,072 1,215 2,425 4,305 67,372 1,033 450 2,031 755 662 30 Total country banks , 366,651 I 164,086 473,834 50,308 i 23,408 Total United States.. , 879,698 i 754,537 679, 281 1,615 214,046 252 56,158 789 27,699 18,102 15,829 13,431 8,770 16,642 14,139 6,911 4.037 47,830 9,658 17,487 13,511 50,641 35,084 65,900 22, 707 25,749 26,860 26,160 12,005 Washington. Oregon California... Idaho... Utah........ Nevada Arizona 79,331 67,790 153,025 2,146 7,562 205,996 60,972 3,064 1,673 1,079,960 15, 694 2,596,178 38 BEPORT OF THE COMPTROLLER OF THE CURRENCY INVESTMENTS OF NATIONAL BANKS The total investments by national banking associations on June 30,1927, in United States Government and other miscellaneous bonds and securities aggregated $6,393,218,000, which was an increase of $550,965,000 since June 30, 1926. State, county, or other municipal bonds show an increase of $95,738,000, railroad bonds an increase of $25,303,000, and other public-service corporation bonds an increase of $103,731,000. Foreign government bonds were greater by $11,983,000, miscellaneous foreign bonds and securities increased $42,379,000, and stock in the Federal reserve banks was increased $3,175,000. The table following discloses, by reserve cities and States, a classification of miscellaneous securities held by national banks, together with a total of United States Government securities, June 30, 1926 and 1927: [In thousands of dollars] June 30, 1926 Domestic securities: $, State, county, or other municipal bonds Railroad bonds— Other public-service corporation bonds All other bonds Claims, warrants, judgments, etc Collateral trust and other corporation notes. Foreign government bonds Other foreign bonds and securities Stock, Federal reserve banks Stocks, all other Total. United States Government securities Total bonds of all classes June 30, 1927 647,801 631,387 545,036 772,789 79,423 154,797 225,871 146, 548 78,735 90,598 743,539 656, 690 648,767 910,694 80,140 155,976 237,854 188,927 81,910 92,543 3,372,985 3,797,040 2,596,178 5,842, 253 6,393,218 United States Government, domestic, and foreign bonds, securities, etc., owned by national banks June 80, 1927 [In thousands of dollars] Foreign government bonds Domestic securities to oo Cities, States, and Territories State, United States county, Governor ment municsecuriipal ties bonds Railroad bonds Other publicservice corporation bonds Stock Stock Claims, All of other war- Judgother Federal ofcorpoments bonds reserve rations rants, etc. bank Bonds Collat- of Ruseral sian, trust Gerand man, other and corpo- Ausration trian notes Governments Bonds of other foreign governments Other Total foreign bonds, bonds stocks, and securities, securities, includetc., ing other those than of munici- United States palities Total all bonds and securities CENTRAL RESERVE CITIES New York Chicago Total, central reserve cities 524,802 __| 70,995 85,497 19,791 5,430 32,125 13, 021 86,350 10,311 14,631 2,896 595, 797 105,288 104,244 45,146 96,661 69, 256 5,549 4,626 2,177 44,090 104,144 21,899 18. 753 ' 3,299 13, 903 147 17,661 3,649 4,119 22,730 3,116 8,735 5,187 13,162 8,080 3, 264 6,970 6,707 1,667 192 20,798 3,238 5,125 886 2,094 1,772 112 10, 222 796 163 1,853 197 2,868 419 2,000 246 152 8,353 802 4,691 561 20,496 31,204 2,550 2,014 1,386 735 14,491 1,131 3,727 878 18,678 15, 694 2,428 2,921 152 782 36 264 312 14,854 4,037 3,424 2,087 11, 778 36, 665 7,891 5,436 1,553 3,298 862 2,901 487 407 2,666 525 865 1,134 3,911 390 699 17,385 2,016 184 2,084 36,654 3,601 1,793 522 22,694 2,911 17, 358 2,770 413,485 65,339 938, 287 136,334 17,527 19,401 2,248 40,255 2,315 25,605 20,128 478,824 1,074, 621 2,558 210 340 75 3,153 1,864 709 542 342 315 165 188 151 144 494 66 210 88 384 195 63 18, 232 2,154 319 172 2,028 2,314 627 372 598 506 334 23 226 167 159 220 224 15 1,053 21 4 1,532 147 31 1 3 13 6,342 368 465 15 16, 824 13,481 645 776 49 19 685 18 5 17 123 469 211 2 4,029 237 678 222 5,393 3,118 2,050 316 43 f OTHER RESERVE CITIES Boston -Albany.. Brooklyn and Bronx. Buffalo Philadelphia Pittsburgh Baltimore--. Washington Richmond Atlanta Savannah Jacksonville Birmingham New Orleans Dallas El Paso Fort Worth Galveston Houston. San Antonio Waco- 678 14 190 196 1,292 88 167 371 74 115 182 865 70 40 23 106 40 993 23 13 3 121 5 233 433 42 19 12 47 90 253 15 184 48 1,138 718 928 1,972 3,488 667 344 29 267 125 45 104 79 10 "16" 376 130 438 10 24 71 556 10 33 85,894 16,802 16,036 4,984 102, 790 111, 734 22,950 13,610 6,249 7,995 1,643 14,769 3,443 937 5,985 2,290 4,738 2,344 10, 767 1,166 1,187 155,150 22, 351 20, 662 7,161 146, 880 215, 878 44,849 32,363 9,548 21,898 1,790 32,430 7,092 5,056 28, 715 5,406 13,473 7, 531 23,929 9.246 4,451 United States Government, domestic, and foreign bonds, securities^ etc., owned by national banks June 80, 1927—Continued [In thousands of dollars] Foreign government bonds Domestic securities United State, States county, Governor ment municsecuriipal ties bonds Cities, States, and Territories Railroad bonds Other publicservice corporation bonds Stock Stock Claims, of All other war- Judgother Federal ofcorpoments bonds reserve rations rants, etc. bank Collateral trust and other corporation notes Bonds of Russian, German, and Austrian Governments Bonds of other foreign governments Other Total foreign bonds, bonds stocks, and securities, securities, includetc., ing other those than of munici- United States palities Total all bonds and securities OTHER RESERVE CITIES—continued Little Rock „ Louisville . Memphis Nashville Cincinnati—..„ Cleveland.Columbus Toledo Indianapolis Chicago Peoria Detroit_ Grand Rapids Milwaukee. Minneapolis St. Paul Cedar Rapids Des Moines... Dubuque Sioux City _ Kansas Citv, Mo. _ „ St. Joseph Stc Louis Lincoln Omaha Kansas City, Kans Topeka. _ Wichita,. .„_ „ . „. . _ __ _. . __ _ . . _ _ „ _. . 116 21,876 1.045 2,921 11, 721 14,352 9,982 3,550 8, 516 10,318 5,135 22,561 1,820 14,201 31,422 21,942 1,703 4,606 1,664 2,658 14,912 1,410 28,283 1,185 4,189 1,399 3,727 1,253 352 965 280 5,358 4, 043 3,919 269 1,483 7,281 1,147 4, 963 138 2, 015 6,464 749 1,254 1,173 1,365 465 7,162 34 11,075 223 3, 991 762 2,775 6,715 3,327 1,920 431 1,641 804 1,761 366 477 3,615 619 863 67 1,274 7,790 4,901 413 401 230 503 1,583 64 9,636 262 3, 054 18 102 680 2,313 1,903 1,390 159 1,310 6,279 1,013 426 138 2,683 2,016 766 2,044 309 610 519 534 10 5,951 153 2S190 47 3 85 3,358 167 603 3,015 5,535 4,868 519 1,560 5,940 1,637 2,417 950 3,518 6,080 1,373 1,092 1,600 1,116 1,087 2,292 598 6,349 1, 037 1,701 70S 502 250 15 271 54 224 402 235 338 60 324 233 172 645 86 471 573 282 30 117 30 83 312 61 1,184 71 234 39 55 111 175 218 28 168 45 787 919 11 291 54 970 242 38 49 620 132 2,442 9 1,229 65 i 54 1,243 4 179 3 708 19 6 53 93 49 372 84 290 34 177 58 14 125 519 201 248 1 30 33 208 97 110 2,236 635 535 366 23 1,210 16 494 76 51 1,605 200 76 85 316 15 60 3 15 329 202 452 2,019 124 860 77 212 871 360 315 37 370 3,235 197 3 74 97 294 34 390 308 523 2,980 349 23 7 9 238 10 245 55 4,320 50 14 30 103 202 35 1,187 1,202 608 155 1,086 1,269 13 1,188 86 475 1,375 1,075 266 33 91 38 753 437 2,091 64 862 58 14 40 12 100 11,542 1,392 3,228 18,693 14,725 14,378 1,971 8,009 27,874 5,378 12,766 1,934 11,901 28,195 9,841 5,154 4,655 3,486 3,401 15,444 1,410 45,479 2,882 12,671 1,576 3,984 7,106 216 33,418 2,437 6,149 30,414 29,077 24,360 5,521 16,525 38,192 10,513 35,327 3,754 26,102 59,617 31,783 6,857 9,261 5,150 6,059 30,356 2,820 73,762 4,067 16,860 2,975 7,711 8,359 Helena _. „_.....„.... Denver..__.____._._.._ ......— Pueblo .... . _ ' ,__ Muskogee _ ---Oklahoma City -.„.. Tulsa Seattle— I....._._.— —_-._.—. Spokane • Portland . . Los Angeles .._ Oakland San Francisco— _ Ogden Salt Lake City... Total other reserve cities.... 1,230 22,337 1, 629 4, 509 11,126 8, 394 22, 798 3,548 20? 579 30,809 4,290 159,598 141 3,113 9,917 1,191 ' 667 7,462 1,119 3,642 616 8, 794 17,355 3, 709 41,658 90 1,039 105 1, 252 79 250 588 414 1.756 '481 2,637 803 7S0 140 563 6, 204 2,297 801 1, 969 0, 280 10,711 333 1,052 2,414 17 256 70 495 83 29 295 89 352 478 3,402 464 26 1,055 104 1,050 24,232 4,154 1.206 10, 995 9,271 15,343 4,327 22,396 29, 613 4,279 75,466 981 4,321 2,280 46,569 5, 783 5,715 22,121 17,665 38,141 7,873 42,975 60,422 8,569 235,064 1,927 Total all reserve cities COUNTRY BANKS Maine .. New Hampshire.. Vermont. Massachusetts Rhode Island _. Connecticut 10,931 j 10,957 | 5,397 46,457 6,159 27,182 Total New England States. New York .._._.. Total Eastern States- Total Southern States .—_.j 13, 966 4,440 5, 293 38, 373 2,511 31,041 422 310 248 1,603 295 1,244 253 128 124 2,460 100 471 60 39 156 112 109 48,041 99,444 4,122 3, 536 476 3,201 2, 759 6,873 113 378 1,844 1,987 4, 220 78 200 996 1,035 1 932 I 309, 854 105, 603 289, 917 257,242 295,996 13,324 8,329 27, 699 18,102 15,829 13,431 8,770 16, 642 14,139 6,911 4,037 47,830 9,658 17, 4S7 13, 511 Virginia West Virginia... North CarolinaSouth Carolina.. Georgia Florida Alabama Mississippi Louisiana.. Texas. Arkansas. _..___. Kentucky....... Tennessee....... 20,219 5,874 6,513 45,537 8,028 13,273 75, 624 67, 790 153, 025 2,146 7,562 12, 930 7,434 2,301 3,395 19, 457 2,158 13,296 35,414 92, 069 91,919 90, 545 34, 911 62, 291 47,005 50,248 31,830 128,089 107, 911 142,148 796 1,739 1,931 1,501 2,652 8,476 11,316 5,967 107, 083 79, 331 New Jersey.. PennsylvaniaDelaware Maryland 4,222 441 211 5. 034 555 2,417 | 3,661 1,011 2,512 3,575 509 15,919 6,387 9,014 1,564 5,193 4,005 2,180 1,967 1,311 2,074 68 410 300 1,951 2,646 402 91 1,253 193 2. 743 '344 1,726 3,132 109 1,005 350 1,780 1,576 552 81 1,351 140 3,417 520 6,955 8,010 1,506 4,003 876 4,723 4.052 2,022 525 5,086 1,574 5,888 2, 600 214,046 j 57,497 | 13,786 j 15,739 j 47,820 1,265 761 739 4 3,125 434 1,059 5,271 1,148 1,381 69,804 26,955 26,180 179,532 22,053 79,492 12, 468 47,466 37,576 21,225 24,410 12, 755 45,940 32,535 21,487 7,432 67,742 17,566 36, 757 22,289 United States Government, domestic, and foreign bonds, securities, etc., owned by national banks June SO, 1927—Continued to [In thousands of dollars] Foreign government bonds Domestic securities United State, States county, or Governmunicment ipal securibonds ties Cities, States, and Territories Kailroad bonds Other publicservice corporation bonds All other bonds Stock of Federal reserve bank Stock Claims, of other warJudgcorpo- rants, ments rations etc. Bonds Collat- of Ruseral sian, trust Gerand man, other and corpoAusration trian notes Governments Other foreign bonds and securities, Bonds includof ing other those foreign of govern- municiments palities Total bonds, stocks, securities, etc., other than United States Total all bonds and securities COUNTRY BANKS—continued • Ohio _ - . Indiana Illinois.. Michigan Wisconsin Minnesota . Iowa Missouri _ _ _. _ _. Total Middle Western States.... North Dakota South Dakota Nebraska Kansas Montana— Wyoming Colorado New Mexico Oklahoma Total Western States Washington.. Oregon California Idaho Utah •_ 50,641 35, 084 65, 900 22, 707 25, 749 26,860 26,160 12,005 32,968 7,457 26, 911 23, 574 11, 532 15, 554 3, 627 4,132 10,603 8,178 9,456 6,507 5,955 7,179 2,191 696 8,721 13,784 18,309 14, 021 17,461 8,544 6,249 1,641 29,920 13,504 26, 826 24,433 21, 032 17,420 8,863 3,052 2,110 1,163 1,864 821 819 869 812 333 1,023 417 1,123 381 515 234 912 118 281 404 7, 550 403 287 7, 537 2,231 416 167 346 1,421 44 116 206 544 22 1,328 2,187 3,727 1,058 2,709 879 289 37 319 145 458 140 305 138 71 41 8,121 3,268 4,435 5,203 3,475 4,035 2,023 692 7,072 3,688 5,539 3,748 2,510 3,088 926 191 102,633 54,541 107, 619 80,333 66, 716 65,683 28,738 11,371 153,274 89,625 173,519 103, 010 92,465 92,543 54,898 23,376 265,106 125, 755 50,765 88,730 145, 050 8,791 4,723 19,109 2,866 12, 214 1,617 31,252 26,762 517,634 782,740 9,981 10, 292 10,835 18,289 10,226 5,871 10,344 6,166 31,431 2,002 2,673 1,288 10,384 2,311 1,174 4,164 512 16, 076 917 530 665 450 1,220 406 1,049 320 407 2,180 1,064 948 775 1,705 511 2,281 102 741 3,582 3,164 1,358 2,590 2,314 1,537 4,768 1,469 2,883 261 208 371 626 217 128 320 93 606 208 50 67 330 157 50 660 70 482 1, 605 1,683 942 2,417 1,733 750 1,779 81 6,821 82 93 138 137 144 38 19 50 310 5 20 118 97 95 1 308 27 17 25 15 727 272 440 207 305 220 457 22 492 13,222 10,199 ' 7,056 18,767 11,150 4,938 16,341 2,777 29,871 23,203 20,491 17,891 37,056 21,376 10,809 26,685 8 943 61,302 113,435 40,584 5,964 10,307 23,665 2,828 2,074 17, 811 14,914 9,725 27,716 7,072 1,215 9,162 5,979 33,195 2,325 210 3,328 505 1,593 117 18 3,803 1,208 9,267 518 118 7,512 2,283 11,790 1,179 210 403 293 1,035 153 36 168 100 1,102 256 6 1,642 2,290 801 1,830 25 111 14 5 5 1,626 427 696 739 949 123 522 53 937 1,011 755 108 6,072 3,142 114,321 227,756 30 40 35 52 5 456 87 278 24 28 4 10 16 2,107 1,071 795 294 15 2,112 542 1,130 75 10 30,751 14,402 61,031 6,839 653 45, 665 24,127 88,747 13,911 1,868 Nevada Arizona „. >.. *. ._-_, Total Pacific States Al aska (nonmember banks) The Territory of Hawaii (nonmember banks) Total (nomrmrnhpr hanlcs) 2,425 4,305 1,217 661 116 69 131 103 343 770 62 70 134 104 13 801 21 52 20 10 192 10 106 27 2,365 2,667 4,79C 6,972 67,372 52,749 5,746 15,148 24, 087 2,052 1,870 7,402 235 865 68 4,484 4,002 118,70S 186,080 1,033 59 90 69 302 1 6 63 7 • 618 1,651 2,031 916 1,496 3,527 442 21 138 3,064 975 90 69 744 1 144 2,114 5,178 Total country banks 1,079,960 396, 093 414,309 486,679 612, 986 40,406 27, 629 56, 730 6,994 61, 025 6,147 156, 550 127,546 2,393, 094 3,473,054 Total United States 2, 596,178 743,539 656,690 648,767 910,694 81,910 92, 543 72,454 7,686 155,976 12,188 225,666 188,927 3,797,040 8, 393, 218 21 63 7 s s 2 CO 44 REPORT OF THE COMPTROLLER OF THE CURRENCY SAVINGS DEPOSITORS AND DEPOSITS I N NATIONAL BANKS Savings deposits reported by national banking associations on June 30, 1927, aggregated $5,875,670,000, an increase in savings of $912,806,000 over June 30, 1926. Of the total number of banks reporting savings, 4,600 maintained separate savings departments, and according to the returns from all reporting national banks there were 14,340,687 sayings depositors. The average rate of interest paid on these deposits was 3.68 per cent, as compared with 3.63 per cent the year previous. The number of banks in reserve cities and States reporting savings, the number maintaining separate savings departments, the number of depositors and amount of savings deposits, together with the rate of interest paid, is shown in the following table: Savings depositors and deposits in national banks June 30, 1927 Number banks Number ofmainof banks taining reporting separate savings deposits savings depart- Number of savings depositors Amount of Average savings rate of deposits interest (000 paid omitted) ments CENTRAL RESERVE CITIES New York __. 20 Chicago Total central reserve cities OTHER RESERVE CITIES Boston--Albany Brooklyn and Bronx Buffalo _ Philadelphia _ Pittsburgh Baltimore... Washington. ....„ Richmond Atlanta Savannah Jacksonville _ , Birmingham New Orleans-Dallas , El Paso _ Fort W o r t h . - . . . — . , Galveston Houston— San Antonio Waco Little Rock.. Louisvi le Memphis Nashville Cincinnati Cleveland... Columbus..Toledo Indianapolis , Chicago Peoria Detroit Grand Rapids Milwaukee Minneapolis St, Paul Cedar Rapids _. Des Moines Dubuque Sioux City Kansas City, Mo 28 21 595,374 62,737 $216,116 14,424 Per cent 3.37 3.00 658, 111 230,540 3.19 247,383 9,581 39, 291 36, 287 179, 213 90,332 41,080 90, 531 60,314 112,143 60? 264 66, 539 34,933 127 30, 974 13,436 29,860 19,863 63,144 7,958 8,304 1,980 65,263 13,449 42,765 31,388 71,083 31,074 4f821 24,902 247,954 26,946 12,935 36,045 111, 085 137,755 56,249 18,873 8,756 8,759 24,690 32,121 119,989 9,176 10,410 11.457 78, 587 70,150 26,124 39, 252 19,410 29,878 20,691 28,024 14,777 1,868 16,292 4,924 11,334 12,618 30,231 6,537 5,645 873 26.458 4,374 17,130 16,726 32,908 9,446 3,450 7,358 48,362 5,705 37,103 12,941 31,869 43,845 25,905 8,134 1,854 4,742 4,847 6,008 3.72 3.75 3.83 3.83 3.80 4.00 3.90 3.13 3.00 3.25 4.17 3.75 4.00 2,75 4.00 3.00 4.00 4,00 4.00 4.00 4.00 4.00 3.63 3.00 3.75 4.00 4.00 3.00 3.50 3. 63 3.00 3.00 3.00 3.00 2.85 3.50 3.25 3.50 3.50 3.50 3.50 3.00 REPORT OF THE COMPTROLLER OF THE CURRENCY 45 Savings depositors and deposits in national hanks June 80, 1927—Continued Number of banks Number mainof banks taining reporting separate savings deposits savings departments Number of savings depositors Amount of savings deposits (000 omitted) 3 10 4 5 2 3 4 1 6 1 2 6 6 7 4 3 3 1 3 1 2 10,349 194,512 20,966 71,110 6,278 3,146 13,689 2,562 98,858 5,795 3,696 27,762 27,555 81, 246 33,538 103,941 162, 503 5,737 834,175 2,349 19,440 $5,524 53,356 3,823 8,647 1,612 369 4,836 1,435 43,244 3,543 1,649 7,268 16,109 28, 848 14,082 48,995 109,101 2,454 366,332 1,048 5,314 337 291 3,979, 637 1,645,001 3.58 365 312 4,637,748 1,875,541 3.39 53 20 39 112 5 44 46 16 30 105 5 35 187,842 43, 775 73,785 453, 620 14, 813 173,034 91,264 15, 520 33,932 192,837 12,507 79,325 3.96 3.68 4,08 3.86 4.25 4.32 Average rate of interest paid OTHER R E S E R V E CITIES—continued St Joseph --„-St Louis Lincoln - _ _ . _ _ Omaha BTansf'S City, Elans _ . Topeka . _ . Wichita Helena - - - Dfnver _. ,_„_ Pueblo Muskogee _- " - - . _ Oklahoma City Tulsa . . . Seattle Sp°kaiie . . ~ Portland _._, Los Angeles - Oakland . „ .__.._ -. - - . ----San Francisco Salt Lake City „ - . ...-...- Total other reserve cities __ Total all reserve cities _._. 4 11 5 7 2 3 4 1 6 2 3 6 6 8 4 5 10 2 4 1 4 Per cent 3.00 3.09 4.00 3.18 3.00 3.00 4.00 4,00 3.54 4.00 4.00 4.00 3.92 3.06 3.70 3.60 3.50 4.00 3.94 4.00 4.00 COUNTRY BANKS MninB New Hampshire Vermont Massachusetts Ehode Island Connecticut _. „ __..._, ___». .__ __._ Total New England States New York. . Now Jersev Pennsylvania Delaware _ . . _ . Maryland - » ..„ __ . . _ . ._ » .__ Total Eastern States Virginia.West Virginia . North Carolina South Carolina. Georgia Florida._-__ Alabama Mississippi.. Louisiana... Texas . . _ . _ . . . . _ _ Kentucky Tennessee — .... „ „ __ _ __. . . . .. . . _„ . . . .... _ _ _ Total Southern States Ohio Indiana....Illinois Michigan . Wisconsin . Minnesota . . . _ . Iowa. Missouri ... _. _ _ Total Middle Western States „ 273 237 946,869 425,385 4.03 488 290 809 17 72 399 254 576 12 61 1,083, 354 896,341 1,767,408 11,633 115,548 560,128 395, 200 811,161 8,539 66, 572 3,92 3.77 3.85 4.00 3.82 1,676 1,302 3,874, 284 1,841,600 3.87 161 117 73 62 68 58 82 27 26 186 57 105 86 120 86 49 51 44 47 60 15 20 98 35 72 53 278, 242 176, 711 142, 220 86,994 69,732 103,376 111, 841 49,875 35,751 79,411 44,511 97,891 113,700 120,721 64.658 45, 789 44, 532 22,890 45,722 42,976 21, 937 16,952 34,364 22, 567 46, 675 45,554 3.73 3.79 4.00 4.30 4.14 4.08 3.99 3.94 3.89 3.95 3.95 3.66 3.82 1,108 750 1,390, 261 575,337 3.94 290 198 410 126 147 258 233 85 207 149 244 88 94 258 129 41 513, 296 279, 763 52G, 266 411, 723 369, 430 270,141 158, 875 64, 247 160, 803 95,833 167, 537 147, 974 111,027 79, 688 53, 621 17,465 3.83 3.70 3.46 3.34 3.28 3.84 4.01 6.92 1,747 1,210 2, 593, 741 833,948 4.05 46' REPORT OF THE COMPTROLLER OF THE CURRENCY Savings depositors and deposits in national banks June 80} 1927—Continued Number of banks reporting savings deposits Number of banks Amount of Average mainsavings taining ofNumber rate of savings deposits separate depositors interest (000 savings paid omitted) departments COUNTRY BANKS—continued North Dakota South D a k o t a . . Nebraska Kansas-. Montana Wyoming . Colorado.--- . . New Mexico Oklahoma - $19,178 10,547 11,166 23,305 20,549 10,098 24,020 4,252 16,842 Per cent 4.11 4.09 4.11 3.71 4.38 3.98 3.96 4.19 3.99 . 215 112 60,681 38,359 65,668 80,321 41,417 22,473 61,975 12,195 51, 538 Total Western States 921 542 434, 627 139, 957 4.06 96 52 78 194 51 51 97 24 41,895 20,119 92, 512 11,168 3,904 6,810 6,044 3.89 3.64 3.97 3.93 4.10 4.00 4.08 Washington Oregon . California Idaho Utah Nevada Arizona ._ >..__ . . - _ -. -' . _ _ Total Pacific States Alaska (nonmember banks) _ _ The Territory of Hawaii (nonmember banks) Total (nonmember banks) „_ Total country banks Total United States . 113 64 90 102 181 62 25 107 26 49 63 107 42 15 75 15 8 13 5 10 121,132 65, 783 199, 600 34,983 15,387 7,493 14,942 454 244 459,380 182,452 3.94 3 1 2 1 2,017 1,760 1,099 351 3.67 4.00 14 4 3 3,777 1,450 3.84 6,183 4,288 9,702,939 4,000,129 3.96 6,548 4,600 14,340, 687 5,875, 670 3.68 PER CAPITA INDIVIDUAL AND SAVINGS DEPOSITS I N ALL REPORTING BANKS The total individual deposits in all reporting banks in the continental United States, Alaska, and insular possessions on June 30, 1927, were $51,132,554,000, of which amount $26,032,001,000 were savings deposits. The per capita individual deposits based on an approximate population of 129,804,000 were $393.92, and the per capita savings deposits were $200.55. The increase in the per capita savings deposits is due in part to the inclusion of time certificates of deposits with other savings, which have not heretofore been so included. Statement showing the population, amount of individual deposits, per capita individual deposits, amount of savings deposits, and per capita savings deposits reported by all banks in each State, the District of Columbia, Alaska, and the insular possessions follows: REPORT OF THE COMPTROLLER OF THE CURRENCY 47 Per capita individual and savings deposits in all reporting banks June 80, 1927 Population (approximate) States and Territories 784,000 456,000 356,000 4,225,000 675,000 1, 596, 000 Maine New Hampshire.. Vermont Massachusetts Rhode Island Connecticut...... Total New England States. Total Eastern States.. Virginia . *. „ West Virginia._. North Carolina.. South Carolina.. Georgia Florida -...-. Alabama Mississippi Louisiana. _ Texas Arkansas .„__. Kentucky Tennessee .. Total Southern S t a t e s . . . .. Ohio Indiana Illinois „. Michigan Wisconsin... Minnesota... Iowa.... Missouri Total Middle Western States.. North Dakota.. South D a k o t a . . Nebraska.... Kansas .-_. Montana ... Wyoming Colorado New Mexico Oklahoma Total Western StatesWashington . Oregon. „ California... Idaho Utah Nevada Arizona Total Pacific States.. Alaska. The Territory of Hawaii.. Porto Rico Philippines Per capita individual deposits Savings deposits 2 $381,030,000 253, 295,000 221,758,000 4,073, 262,000 493,105,000 1,100,935,000 $486.01 555.47 622. 92 964.09 730. 53 689.81 $297,908,000 213,218,000 193,126,000 2,443,879, 000 349,640,000 794,513,000 6, 523, 385, 000 Per capita savings deposits 467.68 542.49 578.43 517.99 497.82 806.15 4,292,284,000 530.44 11, 600,000 3, 770,000 9, 500, 000 240,000 1, 615,000 510,000 13,374, 564,000 1,152.97 564. 23 2,127,163,000 495. 46 4,706,824,000 481.00 115,441,000 449. 95 726,664,000 465. 34 237,324,000 6, 523,446,000 1,223,172, 000 2, 532,232,000 55,984,000 435, 557,000 90,438,000 562.37 324.45 266.55 233.27 269.69 177.33 27, 235,000 21, 287, 980, 000 2, 495,000 1, 620, 000 2,880, 000 1,825, 000 3,100, 000 1, 265, 000 2, 500, 000 1, 793, 000 1, 910,000 5, 220, 000 1,880, 000 2, 515,000 2,450,000 451,823, 000 342,850, 000 356, 767, 000 174, 798,000 314,406, 000 417, 609, 000 256. 599, 000 216; 735, 000 369, 023, 000 902, 229, 000 197, 584, 0C0 3 424,406, 000 385,078,000 31,453,000 8,092,000 New York . New Jersey Pennsylvania Delaware Maryland District of Columbia. Individual deposits1 781. 64 10,860,829,000 | 398.78 181.09 211. 64 123.88 95.78 101. 42 330.13 102. 64 120. 88 193. 21 172.84 105.10 168. 75 157.17 243, 655,000 161, 642,000 156, 586, 000 91,366,000 139,029,000 159,889, 000 105, 408,000 97,198, 000 129,241, 000 183, 624,000 72, 776,000 s 90,142, 000 171, 734,000 97.66 99.78 54.37 50.06 44.85 126.39 42.16 54.21 67.67 35.18 38.71 35.84 70.10 4,809,907, 000 152. 92 1,802,290,000 | 57.30 2, 537,421,000 823, 327, 000 3,422, 618,000 1, 784,456,000 881,151, 000 890, 043, 000 814, 568, 000 1,147,696,000 392. 79 263. 04 477. 02 412. 59 301. 76 336. 50 322. 60 331. 23 1,404,126, 000 296, 500, 000 1,452,879, 000 1,000, 518,000 510,846, 000 521,882, 000 486,858,000 394, 292, 000 217.36 94.73 202.49 231.33 174.95 197.31 192.82 113. 79 32, 645, 000 12, 301, 280, 000 6,460,000 3,130,000 7,175, 000 4, 325, 000 2,920,000 2, 645, 000 2, 525, 000 3,465,000 376.82 6,067,901,000 185.88 667, 000 690, 000 1, 375, 000 1,840, 000 680, 000 228, 000 1,048, 000 390, COO 2, 332,000 134, 989, 000 128, 615, 000 411,846,000 406, 741, 000 139,432, COO 54,899,000 270, 946,000 33,413,000 407,996, 000 202. 38 186. 40 299. 52 221. 05 205. 05 240.79 258. 54 85.67 174. 96 78,928, 000 63, 005, 000 198, 703, 000 120, 292,000 57, 615, 000 21,408, 000 105, 376, 000 7, 582, 000 72, 988, 000 118.33 91.31 144.61 65. 38 84.73 93.89 100. 55 19.44 31.30 9, 250, 000 1, 988,877,000 215.01 725,897, 000 78.48 1, 530, 000 860,000 4,350, 000 507, 000 509. 000 78; 000 434, 000 414,675,000 263, 087,000 3,043, 928,000 78,413, 000 119,877,000 37, 052,000 69,005,000 271. 03 305. 92 699. 75 154.66 235. 51 475. 03 159.00 194, 714, 000 113, 541, 000 1, 764, 752, 000 28,140, 000 66,038, 000 19, 587,000 26, 289,000 127. 26 132.02 405. 69 55.50 129. 74 251.12 60. 57 8, 268,000 4,026,037,000 2,213,061,000 | 267. 67 91, 000 300, 000 1,370,000 11,100, 000 11, 653, 000 79, 214, 000 37, 990, 000 66, 231,000 6.94 128. 05 264. 05 27.73 5.97 4, 544, 000 34,470, 000 13, 388, 000 17,337, 000 49.93 114. 90 9.77 1.56 Total Alaska and insular possessions 12,861,000 195,088,000 15.17 69,739,000 5.42 Total United States, Alaska, and insular possessions 129,804,000 51,132, 554,000 393.92 26,032,001,000 200.55 * Include dividends unpaid and postal savings. 8 Include time certificates of deposit, but not postal savings. Digitized for 8FRASER Estimated. 48 REPORT OF THE COMPTROLLER OF THE CURRENCY EARNINGS, EXPENSES, AND DIVIDENDS OF NATIONAL BANKS In the year ended June 30, 1927, the gross earnings of 7,796 reportIng national banks aggregated $1,243,043,000, and showed an increase of $50,825,000 over the gross earnings in the year ended June 30,1926. Interest and discount collected was $1,076,715,000, or $29,723,000 more than in the previous year. The total expenses of these banks in the current year amounted to $882,374,000, showing an increase in the 12-month period of $40,708,000. The major items of expense were interest paid on deposits, $408,342,000, and salaries and wages, $243,246,000, exceeding by $20,394,000 and $13,382,000, respectively, the interest and salaries paid in the year ended June 30, 1926. Deducting from the gross earnings above referred to the total expenses also mentioned, national banks during the year showed net earnings of $360,669,000, which amount was $10,117,000 more than in the previous year. In addition to net earnings recoveries of $33,339,000 were made on assets previously charged off, making a total of $394,008,000 in net earnings and recoveries during the year, compared with $394,557,000 in the year previous. From the total of net earnings and recoveries were deducted losses and depreciation charged off in the sum of $141,689,000, resulting in a net addition to profits in the year of $252,319,000, which amount was $3,152,000 more than the net addition to profits reported in the previous 12 months, Dividends in the sum of $180,753,000 were declared in the year and exceeded by $7,000,000 the total dividends declared by 7,978 reporting national banks in the year ended June 30, 1926. A comparative statement of the earnings, expenses, and dividends of national banks for fiscal years ended June 30, 1926 and 1927, and statements showing the capital, surplus, and the earnings, expenses, eV5., of these associations in reserve cities and States and Federal reserve districts June 30, 1927, follow. (Similar tables for the sixmonth periods ended December 31, 1926, and June 30, 1927, are published in the appendix of this report. KEPORT OF THE COMPTROLLER OF THE CURRENCY 49 Earnings, expenses, and dividends of national banks for the fiscal years ended June SO, 1926 and 1927 [In thousands of dollars] June 30, 1926 June 30, 1927 (7,978 banks) (7,796 banks) Capital s t o c k . . . Total surplus fund Dividends declared .... . — — — — — — _ — . _ _ _ — „.._.., — — _ I I j 1,412,872 1,198, 899 173,753 Gross earnings: Interest and discount on loans — _ — — . ———. Interest (including dividends) on investments, _ -interest on balances with other b a n k s . . . . _.__. .._.___ Interest not classified . __„_.__„_—_.__.,... Domestic exchange and collection charges Foreign exchange department _. Commissions and earnings from insurance premiums and the negotiation of real-estate loans _ —.... Trust department _.. Profits on securities s o l d . . . . . . . . . . . Other e a r n i n g s . . . — . . — . — „_„._.. Total Expenses paid: Salaries and wages. Interest and discount on borrowed money,. Interest on bank deposits _.... Interest on demand deposits Interest on time deposits Interest not classified -. Taxes. _... ... Other expenses Total _ — Net earnings during the year Recoveries on charged-ofi assets: Loans and discounts Bonds, securities, etc .. All other Total — — . Losses and depreciation charged off: On loans and discpunts On bonds, securities, etc On trust department operations On banking house, furniture and fixtures.. On foreign exchange Other losses. Total —_. Net addition to profits during the year.. 1 2 8 4 Includes interest and dividends on investments, and interest on balances with other banks Includes interest on bank and other demand deposits. Total amount of recoveries. Includes charge-offs on banking house, furniture and fixtures. 1,474,173 1} 258,945 180,753 Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1927 [In thousands of dollars] Gross earnings Location Maine New Hampshire Vermont „ Massachusetts Boston Rhode Island Connecticut Total New England States New York Albany. Brooklyn and Bronx.. Buffalo New York City New Jersey Pennsylvania Philadelphia Pittsburgh Delaware Maryland Baltimore. Washington, D. C Total Eastern States Number of banks 57 65 46 142 11 13 65 511 2 15 3 23 291 823 32 13 19 74 10 13 1,829 Capital Surplus Capital and surplus 50,900 4,870 21,702 6,442 4,862 3,248 23,892 43,380 4,955 19,993 14,212 10,262 8,358 52,780 94,280 9,825 41,695 124,640 106,772 231,412 55,440 2,750 6,584 1,310 212,500 47,037 89,590 32,950 28,950 1,759 5; 309 13,100 10,527 51,912 4,250 4,545 1,107 274,150 45,806 138,895 72,205 33,200 2,415 7,376 10,300 7,655 107,352 7,000 11,129 2,417 507,806 ! 653,816 7,770 5,400 5,110 228,485 105,155 62,150 4,174 12,685 23,400 18,182 Interest (includInterest ing diviand dis- dends) counts on on loans investments 3,930 DoInterForest on Inter- mestic exeign balest change exances not and change with classi- collecdepartother tion ment banks charges 3,499 1,260 1,146 8,698 6,750 937 3,589 94 58 31 254 1,338 28 175 8,914 25,879 30,210 2,446 2,555 939 101,011 27, 685 49,034 26,394 11, 505 658 3,619 5,457 5,166 24,236 991 832 252 43,932 15,534 30,559 6, 572 9,787 480 1,850 1,887 1,378 138,290 7,763 2,260 16,052 23,754 1,794 8,841 1,161,622 j 266,679 28 42 36 24 172 163 14 96 1,978 189 547 570 55 21 6 4,233 349 1,345 448 419 9 73 104 131 253 156 354 53 310 1,126 13 8 2 2,640 168 359 203 55 6 20 61 49 3,952 Commissions and earnings from insurance Trust Profits on Other Total premisecuri- earngross ums and departties ment ings earnings the negosold tiation of real estate loans 19 784 32 11 9 123 711 20 264 831 164 221 90 1,444 4,903 56 703 8,504 4,251 3,798 28,509 39,394 2,925 14,389 34 1,150 4,667 7,581 101,770 20 231 48 7 3,978 362 464 74 61 4 4 7 153 4,917 137 169 69 12,024 2,770 5,450 1,148 2,453 57 366 566 196 1,547 37 87 52 15,872 1,743 2,683 1,267 1,339 21 90 640 62,367 3,728 3,691 1,320 191,651 48,834 90,359 36,958 25,820 1,288 6,334 8,747 7,555 5,393 30,322 25,846 488,652 7,961 52 93 852 201 9,223 705 278 198 1,734 991 90 671 58 Virginia Richmond West Virginia.. North Carolina South Carolina.._ Georgia _ Atlanta Savannah Florida ."." Jacksonville Alabama Birmingham Mississippi Louisiana New Orleans Texas Dallas El Paso Fort Worth. Galveston Houston San Antonio Waco Arkansas Little Rock.. Kentucky Louisville Tennessee Memphis Nashville „_„„ - - - _____ Total Southern States Ohio Cincinnati Cleveland Columbus Toledo Indiana Indianapolis „ Illinois Chicago, Cent. Res Chicago, other Res Peoria Michigan „ Detroit Grand Rapids Wisconsin Milwaukee— Minnesota Minneapolis St. Paul. 163 4 122 77 65 79 3 1 59 3 102 3 36 31 1 608 7 3 5 4 10 8 4 78 1 138 4 99 1 4 24,259 6,300 13,519 14,838 9,950 8,850 5,950 3,000 12,790 4,000 12,145 1,950 5,485 6,275 2,800 46,945 12,900 1,600 4,450 2,150 8,550 4,750 1,650 6,815 300 14,296 6,000 12,564 1,000 4,100 17,807 5,060 11,586 9,944 4,943 5,900 4,550 2,500 7,756 2,250 8,139 3,200 3,703 2,975 2,200 24,871 3,675 600 2,450 780 4,390 1,702 440 3,005 200 9,834 4,350 7,024 800 3,360 42,066 11,360 25,105 24, 782 14, 893 14, 750 10,500 5,500 20,546 6,250 20,284 5,150 9,188 9,250 5,000 71,816 16,575 2,200 6,900 2,930 12,940 6,452 2,090 9,820 500 24,130 10,350 19,588 1,800 7,460 1,723 260,181 159,994 420,175 325 5 3 6 1 229 4 451 12 23 4 129 3 2 149 7 267 39,155 8,100 4,800 5,500 500 24,795 7,650 37, 637 54,050 5,500 2,475 16,615 12,000 1,800 17,880 9,900 19,103 11,400 5,650 28,475 5,300 3,050 5,650 1,500 13,903 3,150 24,696 42,380 2,250 3,275 11,438 9,500 1,050 9.678 5,800 9,380 7,680 3,750 67,630 13,400 7,850 11,1502,000 38,698 10,800 62,333 96,430 7,750 5,750 28,053 21,500 2,850 27,558 15,700 28,483 19,080 9,400 12,309 3,109 7,928 7,405 5,059 4,332 3,472. 489 7,227 3,132 5,529 1,975 3,832 3,707 1,643 21,962 5,383 910 2,902 1,014 4,757 2,067 792 3,903 261 6,885 3,831 6,935 623 2,694 1,460 424 1,313 548 779 304 889 8 2,110 1,368 991 292 809 225 185 1,964 919 219 455 282 854 272 98 618 8 1,133 1,128 578 60 205 136,067 I 20,498 19,120 3,580 3,562 3,265 441 11,739 2,905 18, 774 31,463 2,314 987 9,561 7,378 1,423 9,100 5,354 9,544 6,085 3,210 6,365 1,717 1,460 917 235 3,453 554 6,240 5,437 1,885 472 3,912 1,558 135 3,833 1,095 3,087 2,348 1,571 284 50 239 199 231 102 370 7 529: 111 180 66 130 115 19 1,264 195 49 130 37 214 124 41 215 7 219 124 246 37 126 475 112 835 61 76 77 1 "762" 33 76 346 149 43 63 308 251 181 206 49 282 328 199 7 206 85 54 881 228 35 103 94 123 46 55 144 11 41 12 133 112 155 5,660 I 3,287 4,584 384 195 66 8 27 6 164 38 312 1,110 42 42 163 34 30 170 67 356 591 171 136 52 100 12 367 102 652 501 60 34 241 251 36 317 105 361 205 188 229 Ton' 642 241 "556" 109 80 44 53 56 37 5 193 41 43 36 16 8 129 28 227 34 134 32 16 2 208 242 165 123 132 26 23 195 112 44 14 56 105 12 73 54 15 11 10 1,732 14 6 48 5 6 15 2 116 26 51 24 "248" 14 187 166 70 11 4 948 2,570 130 56 180 80 38 943 237 656 291 82 621 127 832 134 332 89 609 66 7 525 99 314 334 119 99 230 6 6 216 491 204 586 979 436 221 331 18 653 199 323 187 236 413 444 1,251 457 64 445 52 713 382 92 243 12 418 135 850 123 121 15,424 3,941 10, 517 10,373 7,012 5,250 5,321 578 11,280 5,421 7,618 2,686 5,447 4,580 2,453 28,304 7,428 1,333 4,061 1,543 6,838 2,922 1,078 5,293 299 9,114 5,414 9,197 966 3,319 11,079 I 185,010 1,406 478 281 306 4 758 759 1,565 1,475 375 94 824 1,394 266 670 398 702 281 415 29,239 6,317 6,244 4,994 818 17,480 4,519 29,606 42,082 5,008 1,724 16,183 10,729 1,902 14,901 7,138 15,228 9,975 5.701 Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June 50, 1927— Continued Or [ In thousands of dollars ] Gross earnings Location Number of banks Iowa . _. . 275 2 Cedar Kapids 3 Des Moines Dubugue __„ , 25 PinTiX" * i t y 109 Missouri 10 Kansas City _ 4 St. Joseph 12 St. Louis •_. , Total Middle Western States _. 2,052 North Dakota 141 98 South Dakota 141 Nebraska 5 Lincoln 7 Omaha. _ 246 Kansas „._ _ 2 Kansas City 5 Topeka 4 Wichita 72 Montana. „„.._ Wvominsj Colorado Denver > Pueblo New Mexico 2 30 116 _„ 6 2 29 Capital 17,515 1,100 2,700 700 2 050 7,495 7,050 1,100 28,850 Surplus 8,293 750 1,200 300 Capital and surplus Commissions and earnings DoInterest InterFor- from in(includ- est on Inter- mestic surance Trust Profits exeign Interest ing on Other est change exdivi- balTotal premi- depart- securiand dis- dends) ances earnnot gross ums and and change counts with classi- collec- depart- the nego- ment ties on ings earnings on loans investother fied sold tion ment tiation of ments banks real charges estate loans 9,457 82G 1,336 302 3,616 3,379 950 10,593 25,803 1,850 3,900 1,000 2 755 11,111 10,429 2,050 39,443 3,624 4,718 877 11,457 608 1,005 104 3,562 408 353,070 221,691 574,761 183,287 54,052 5,722 5,820 4,545 7,655 1,525 4,950 13,633 2,646 2,109 3,927 875 2,350 6,597 3,765 2,650 4,539 878 3,307 7,117 837 793 115 106 950 320 435 8,466 6,654 11, 582 2,400 7,300 20,230 1,270 1,835 3,680 6,979 1,400 2,400 4,930 450 2.460 6.630 5,050 600 2,035 705 1,280 2,049 325 1,780 3,548 4,540 1,150 980 884 404 570 1,019 2,671 775 257 4,240 10., 178 % 590 1, 750 3,015 1,626 3,813 3,993 3G4 1,203 1,600 225 217 211 266 488 176 723 1,215 133 279 383 883 82 427 1,324 2,151 297 261 356 40 16 18 42 153 243 58 181 30 132 426 20 53 71 174 21 120 246 197 78 56 183 19 12 4 764 68 71 25 35 75 17 2 1 171 1 192 75 10 3 20 39 343 7 228 76 152 283 543 13,280 1,253 1,668 664 1,339 4,865 6,733 1,164 16,709 3,903 4,204 2,210 499 1,610 7,389 14,487 277,363 103 73 190 109 1 1 96 66 29 14 10 1 81 76 368 217 3 6 88 8 1 36 27 11 2 5,669 4,101 5,709 1,209 4,984 9,820 598 998 1,738 4,169 384 2,436 5,977 7,504 801 1,749 601 4 110 6 6 39 185 34 2 203 22 0 60 27 13 13 71 5 149 114 2 11 41 85 5 32 69 62 4 36 »-_» 1 6 1 5 6 1 19 209 _ - 3 44 3 163 99 6 2 13 20 3 43 80 155 11 10 82 207 176 100 321 115 507 594 33 56 200 275 16 173 359 731 47 153 335 3 _„„„ 6 35.950 '900 5- 350 5,950 945 12,901 718 3 805 5, 590 Total Western State'-, 1,256 92, 483 42, 304 134,787 5.2, 799 14, 370 3,038 782 1, 515 25 286 341 1,137 6,487 80, 760 97 8 4 90 5 222 10 2 6 52 14 2 4 10 15 9,201 6,200 3, 200 6,310 5 600 23,822 17,950 1,700 51,000 3 635 800 750 2,100 1,400 1,525 3,936 3,470 660 3,144 2 162 10', 848 8,749 1, 538 33,000 1,441 358 150 1,025 660 372 13,137 9,670 3,860 9,454 7,762 34,670 26,699 3,238 84,000 5,076 1,158 900 3,125 2,060 1,897 4, 750 3,926 1 556 3,371 3 180 12,662 13,99.' 1 137 18,621 2 119 480 329 1,273 702 1,025 1. 856 1, 806 286 1,025 1 934 3, 864 2, 346 339 4,820 481 40 58 326 174 264 187 258 55 139 134 545 652 58 370 116 14 15 48 41 52 24 155 308 63 77 192 249 93 2 109 57 7 4 18 10 60 3 92 12 15 12 82 32 305 402 85 33 69 554 161 83 1 71 2 2 13 14 11 557 261 226 290 404 1,220 684 72 1,939 251 33 7 69 94 160 7,864 7,135 2 315 5,033 6 098 19,481 18, 670 1,730 31, 813 3 151 602 416 1,747 1,048 1,604 541 135,193 71, 513 206,706 69,128 19, 624 % 684 1, 365 6,570 6,267 108, 707 4 2 200 600 135 720 335 1,320 127 291 60 113 12 21 4 4 1 24 71 262 519 95 781 52,660 71, 822 i, 243,043 Oklahoma. „ Oklahoma Oity Tulsa, „ „„_, Washington.. _ , « ... SeattleSpokane. Oregon_..» . Portland California __ ._._ Los Angeles .„ Oakland San Francisco . . _ _. Idaho Utah Ogden „_., _ .. Salt Lake City Nevada....... Arizona Total Pacific States Alaska (nonmember) Hawaii (nonmember) Total nonmember banks.. Total United States.. 4,148 245 790 2, 210 19,398 1,145 6 HO 8,160 8,493 403 *>• 1 6 7 3,560 2,203 163 859 693 249 636 19 143 - - - - - - - 214 396 25 75 33 6 10 6 800 855 1,655 418 173 33 7,796 1, 474,173 1, 256,945 2, 731,118 767,292 272, 886 26,878 90 182 50 26 372 1,404 31 19 9,659 • * • * " x 110 24 231 I 708 $ 24 2 99 3 83 J.43 805 99 7 50 2 70 131 506 38 481 4 I 4 23 1, 209 9 ' 8 84 1 50 1 2 4 16,256 13, 762 1,017 10, 811 o i o o M fe # 1 i o d 00 Abstract of reports of earnings, expenses^ and dividends of national banks for the year ended June S0% 1927—Continued Ox [In thousands of dollars] Expenses Location Maine __ _ _ New Hampshire Vermont Massachusetts Boston Rhode Island -Connecticut Total New England States New York Albany -_ _Brooklyn and Bronx Buffalo - -New York City New Jersey Pennsylvania Philadelphia _ Pittsburgh . _ Delaware Maryland -Baltimore _ _ Washington, D. C Total Eastern States Virginia Richmond West Virginia North Carolina South Carolina Georgia _ Atlanta Savannah _ __ Florida Jacksonville Net earnings and recoveries Interest Salaries and dis- Interest Interest Interest Interest on and count on on bank demand on time not wages borrowed deposits deposits deposits classified money 1,104 894 651 4,845 6,713 439 2,746 73 129 75 320 796 19 172 S3 57 40 362 2,032 38 125 680 291 109 3,358 7,682 568 1,705 3,087 561 1,081 7,317 5,349 555 2,911 56 62 199 8 5 44 Other expenses Net earnings during the year Recoveries on loans and discounts 358 247 300 1,170 989 131 898 690 582 324 3,086 3,778 308 1,469 6,101 2,823 2,779 20,466 27,339 2,063 10,070 2,403 1,428 1,019 8,043 12,055 862 4,319 109 27 12 207 437 15 116 143 78 15 153 644 46 140 71, 641 44,536 2,646 3 045 1 035 121, 475 35,285 61,020 24,893 18,495 873 4,612 5,960 5,319 30,129 923 17,831 1,082 646 285 70,176 13, 549 29,339 12,065 7,325 415 1,722 2,787 2,236 429 33 67 11 2,428 220 387 397 127 2 38 80 34 329,194 159,458 11,221 2,737 7,577 7,540 5,471 3,988 3,849 404 8,499 4,267 4,203 1,204 2,940 2,833 1,541 1,262 1,472 174 2,781 1,154 Taxes 17,392 1,584 2,707 14, 393 20,861 374 4,093 10, 237 10, 587 584 870 218 33, 250 8,692 15, 214 6,270 3,985 248 1,022 1,478 1,716 592 88 54 40 2,548 797 1,067 515 399 29 115 222 88 357 310 147 4 16,915 246 355 2,019 2,595 5 55 603 180 3,834 679 688 22 29,178 4,241 3, 545 6,853 4,818 118 148 1,165 755 19,494 444 282 454 10,254 13,727 26,178 3,914 2,993 223 2,238 1,078 1,151 809 236 1,915 3,050 181 146 59 9,107 2,088 4,569 1,619 1,192 58 340 588 697 5,813 360 858 238 20,223 5, 258 8,177 3,703 2,513 103 496 826 732 84,134 6,554 23, 791 56,044 82,430 3,247 23,694 2,979 779 2,065 2,234 1,420 1,270 1,071 124 2,882 1,009 331 127 195 470 211 155 37 4 262 25 297 291 241 248 272 100 251 35 276 425 507 385 585 439 208 173 577 24 702 525 4,040 584 2,501 1,796 1,817 1,052 847 78 1,930 450 1,026 177 792 615 528 437 372 26 654 243 49,300 1,591 394 1,083 1,256 875 691 694 113 1,700 805 1,236 89 198 115 482 140 110 93 Total net Recoveries on All earnings and bonds, other recoveries securi- recovon ties, eries charged etc. off assets Total expenses paid 20 16 1 97 62 14 43 2,675 1,549 1,047 8,500 13,198 937 4,618 1.219 253 32, 524 605 66 46 258 2,345 359 1,210 97 300 25 60 20 16 489 353 419 24 218 19,123 1,181 862 296 75,438 14,481 31,355 12,583 7,970 442 1,844 2,890 2,350 4,253 5,149 1,955 147 8 72 90 131 77 39 8 143 146 14 1 42 11 16 6 25 3 55 9 76 19 7 6 136 14 9 103 24 3 64 8 170,815 4,389 1,216 3,109 2,943 1,764 1,364 1,518 188 3,074 1,317 Alabama — Birmingham-..._,---. Mississippi Louisiana —. .-, New Orleans.J-I Texas *o Dallas £ El Paso o Fort Worth. Galveston to Houston San Antonio.Waco Arkansas Little Rock 01 Kentucky Louisville Tennessee Memphis Nashville _., Total .Southern States Ohio Cincinnati Cleveland „ Columbus. _ Toledo Indiana Indianapolis-_ Illinois Chicago, Cent. Res_ Chicago, other Res Peoria Michigan Detroit- _ Grand Rapids. _ Wisconsin Milwaukee Minnesota Minneapolis St. Paul Iowa Cedar Rapids Des Moines Dubuque Sioux City souri Kansas City St. Joseph St. Louis Total Middle Western States. 1,723 451 1,175 1,101 499 7,808 1,571 360 814 211 1,499 668 217 1,192 93 1,943 1,025 1,907 209 608 284 102 182 193 166 547 103 50 188 29 30 67 28 94 23 150 101 144 8 183 75 79 93 171 95 621 505 38 288 176 411 131 31 208 27 117 516 339 86 269 297 176 265 377 318 2,145 708 136 426 253 556 149 72 292 12 280 494 368 20 186 1,381 548 1,069 681 84 2,111 674 151 413 363 1,172 371 210 1,173 47 2,052 792 2,196 268 493 40,907 5,761 1,166 1,083 1,078 132 3,702 852 6,803 7,468 1,270 331 2,935 1,793 395 3,021 1,496 3,217 2,289 1,084 2,949 214 409 100 365 1,208 1,646 315 3,224 4,439 377 55 197 80 39 220 2 329 323 41 11,655 2,211 771 1,128 853 100 891 460 935 8,790 307 70 836 2,144 167 653 769 432 878 584 540 91 163 29 56 213 760 41 2,755 32,129 6,815 792 1,449 335 142 4,109 275 6,301 1,549 1,190 274 4,518 976 381 3,944 896 4,810 1,554 998 3,961 226 134 224 269 900 345 183 1,892 2,293 574 323 6,712 258 517 135 344 30 454 373 587 3,715 24 108 243 456 62 234 498 342 862 374 286 258 254 26 146 220 1,003 190 1,243 56,306 3,482 13,242 27, 627 49,442 3,047 140 288 31 90 194 79 147 43 272 9 20 26 62 95 157 126 10 204 72 229 105 159 786 483 257 382 363 43 503 366 481 375 204 2,291 550 84 229 77 511 246 86 226 14 754 254 560 95 272 929 204 701 555 267 4,030 888 179 557 107 963 422 134 758 58 956 550 895 133 417 5,299 1,926 4,092 3,463 1,633 19,757 4,999 998 2,915 1,216 5,142 2,054 778 4,015 274 6,481 3,732 6,514 819 2,428 2,319 760 1,355 1,117 820 8,547 2,429 335 1,146 327 1,696 868 300 1,278 25 2,633 1,682 2,683 147 891 110 132 184 80 16 1,456 49 39 59 17 200 102 12 64 17 13,048 2,061 593 297 310 35 1,501 363 1,965 3,562 191 113 1,001 735 148 871 167 927 645 229 654 30 132 27 53 351 356 48 2,312 22,905 3,133 569 820 729 56 1,883 441 3,483 5,006 837 220 1,927 1,564 369 1,757 1,095 1,702 1,164 764 1,540 161 225 51 227 655 1,072 199 1,686 134,088 21,190 4,463 5,109 3,729 534 12,919 2,766 21,189 30,413 3,860 1,116 12,083 7,956 1,553 10,827 5,115 11,891 7,539 4,076 10,565 989 1,337 457 1,142 3,652 5,277 976 13,435 50,922 8,049 1,854 1,135 1,265 284 4,561 1,753 8,417 11,669 1,148 608 4,100 2,773 349 4,074 2,023 3,337 2,436 1,625 2,715 264 331 107 197 1,213 1,456 188 3,274 3,616 222 194 36 38 10 143 214 194 1,434 11 21 141 75 11 104 72 250 184 178 343 34 334 960 166 64 1 25 7 94 15 211 416 1 1 55 115 14 6 8 19 115 4 105 38 82 19 98 188 93 641 19,J577 33,335 206,158 71,205 5,022 7 82 2 104 24 78 2 7 20 22 17 15 37 217 15 20 5 1 2 48 2 9 2 20 11 3 19 19 42 1 20 137 44 1 2,456 892 1,578 1,212 875 10,268 2,493 396 1,210 345 1,925 983 307 1,382 27 2,776 1,885 2,806 150 984 12 73 142 219 9 91 4 7 96 4 17 6 5 76 51 20 25 55,832 8,552 2,126 1,178 1,336 320 4,913 1,986 8,927 13,557 1,167 630 4,369 2,990 373 4,473 2,185 3,724 2,628 1,958 3,203 302 449 113 213 1,394 1,704 301 3,952 1,520 1,276 79,023 13 76 81 46 4 148 49 11 7 9 7 Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1927—Continued [In thousands of dollars] Expenses Location North Dakota South Dakota Nebraska Lincoln Omaha Interest Salaries and dis- Interest and count on on bank wages borrowed deposits money Interest on demand deposits 147 158 114 106 483 440 74 150 91 178 23 186 299 793 27 105 1,022 64 468 762 Interest Interest on time not deposits classified 1,315 1,051 1,380 279 1,177 2,500 126 242 346 938 94 581 1,505 1,487 123 440 3,575 160 721 1,120 60 44 123 25 87 98 18 1 4 28 3 6 83 42 32 22 88 99 123 136 570 278 55 92 230 56 34 67 60 403 100 18 248 32 300 299 19.160 849 3,288 5,690 1,938 1,190 1.551 130 360 1,837 31 64 194 1,157 73 523 1,223 1,467 162 236 1,659 103 500 545 14,943 Washington Seattle SDokane 1,977 1,836 572 62 21 14 56 386 94 392 417 97 1,715 ' 854 541 Oregon. Portland California Los Anseles Oakland San Francisco Idaho Utah Ocden Salt Lake City 1,381 1,485 5,258 4,261 479 5,728 814 131 103 374 54 56 272 96 13 736 37 10 2 10 44 258 306 1,149 103 1,466 65 5 35 175 218 229 960 1,180 209 3,056 188 18 30 129 1,012 1,449 3,740 4,708 186 5.669 639 171 67 269 Kansas City Topeka Wichita Montana . Helena Wyoming Colorado Denver Pueblo New Mexico.. Oklahoma Muskogee Oklahoma Citv Tirisa __ . _ _. ._ Total Western States.- -- 12 161 Net earnings and recoveries Taxes Net Total Other earnings expenses expenses during paid the year Recoveries on loans and discounts 247 153 320 67 175 892 42 65 134 213 26 142 473 356 145 105 737 21 177 185 793 545 688 158 895 1,305 94 130 263 491 39 298 731 737 62 267 2,097 111 539 722 4,733 3.309 4.402 891 3,747 7,436 440 744 1,262 3,071 292 1,817 4,422 5,285 619 1,187 9,623 491 2,737 3,655 836 792 1,307 318 1,237 2,384 158 254 476 1,098 92 619 1,555 2.219 182 562 3,278 227 1.068 1.935 90 96 271 8 181 424 11 79 19 302 54 81 331 173 19 173 815 7 72 157 603 4,665 10,965 60,163 20,597 3.363 35 340 507 482 118 1,051 952 400 5,795 5,288 1,836 2.069 1.847 479 30 341 180 940 762 75 1,187 192 49 43 85 647 768 2,874 2,408 235 4,756 425 68 54 200 3,727 4,425 14,610 14,564 1,300 22,598 2,374 465 334 1,242 1.306 1.673 4,871 4,106 430 9,215 777 137 82 505 145 69 103 86 10 14 48 4 124 260 14 13 Total net Recovearnings eries on All and bonds, other recoveries securi- recovon ties, eries charged etc. off assets 11 28 8 117 24 2 45 14 49 90 35 3 11 54 57 38 1 83 73 13 7 12 8 7 69 16 31 83 991 973 1,624 327 1,618 2,905 184 340 507 1,453 146 721 2,004 2,498 236 769 4,187 234 1.143 2,113 454 3 4 559 24,973 277 128 70 17 2 4 33 146 2 2*396 2,123 555 126 213 292 298 2 134 56 9 2 10 13 89 44 12 11 31 47 80 89 22 55 38 2 1,476 2,022 5,287 4,505 465 9,404 877 148 86 521 17 6 2 4 2 Nevada. _„„.„._ Arizona .._. Total Pacific States Alaska (nonmember) Hawaii (nonmember) Total nonmember banks. Total United States 207 556 25,162 1,434 7,212 232 268 23 21, 520 715 5,127 141 283 736 1,334 312 270 15,262 80,628 28,079 1,699 164 21 185 243.246 18,342 53,944 98 54 21 122,719 221,379 10,300 On On On trust banking On loans bonds, On departhouse, and dis- securities, ment foreign op- furni- exchange counts erations ture, and etc. fixtures Location _ __. Total New England States. New York Albany Brooklyn and Bronx Buffalo „ New York C i t y . . . . New Jersey Pennsylvania Philadelphia _ Pittsburgh. Delaware... Maryland _ Baltimore. . Washington, D. O Total Eastern States 204 30,551 • 59 126 70,337 109 181 181 502 279 882, 374 360, 669 290 18, 883 Losses and depreciation charged off Maine. New Hampshire Vermont Massachusetts Boston Rhode Island Connecticut 325 361 22 ~ ... 206 170 127 2,326 4,716 58 504 256 100 78 866 4,080 38 256 8,107 5,674 2,569 70 341 29 5,851 1,106 4,178 1,421 1,161 32 176 601 326 1,302 103 50 16 6.334 696 2,672 590 1,065 10 108 81 110 17.861 13,137 105 200 45 372 104 2 275 40 1,103 84 102 840 94 39 904 687 1,514 97 281 6 42 87 28 107 4,619 45 166 8,884 | 5,572 394,008 Ratios Other Total charged off 42 27 10 120 153 6 70 625 521 268 3,694 9,137 104 1,105 428 293 11 31 3 2,542 225 869 110 17 5 47 15 36 4,204 40,094 Net addition to profits Dividends Net adDiviNet ad- dition to Dividends to dition to profits to dends to capital profits capital capital and sur- capitalto and surplus plus Per cent 10.99 11.39 11.04 13.03 12.22 10.39 9.44 Per cent 6.01 5.99 6.75 7.13 6.60 5.15 4.91 Per cent 13.70 7.38 12.16 16.36 4.89 8.02 18.02 12.89 15.06 18.97 11.03 12.39 14.41 12.69 11.12 6.28 6.43 2.89 4.34 7.87 6.53 5.91 5.94 5.14 5.22 6.03 7.10 6.44 25.45 36.25 5.26 15.95 28.08 24.94 24.69 31.41 18.74 22.11 27.71 15.73 17.57 13.15 14.24 3.11 8.65 12.26 12.64 9.68 9.84 8.73 9.32 11.60 8.81 10.17 15.50 6.78 25.74 11.25 2,050 1.028 779 4,806 4,061 833 3,513 854 615 564 3,763 6,222 506 2,049 15,454 17,070 14, 573 11.69 5,011 184 516 87 15, 778 2,748 9,238 2,232 2,545 53 373 829 500 14,112 997 346 209 59,660 11, 733 22,117 10,351 5,425 389 1,471 2,061 1,850 6,739 450 322 105 38.291 6.065 13,493 6,251 3,192 218 765 1,662 1,171 130, 721 78,724 19.04 15.24 16.64 7.98 17.10 16.19 Percent 14.42 10.02 9.32 9.11 4.31 8.48 8.43 Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June 30, 1927—Continued 00 [In thousands of dollars] Losses and depreciation charged off Location Virginia Richmond West Virginia North Carolina South Carolina.Georgia _ Atlanta (SR,vanTin.h . . _ Florida -Jacksonville Alabama Birmingham Mississippi Louisiana New Orleans ___ Texas --Dallas El Paso Fort Worth Galveston Houston _ . San Antonio Waco. Arkansas Little Rock _ Kentucky _ _ Louisville Tennessee _ _ Memphis Nashville _ On On loans bonds, and dis- securities, counts etc. _ ... _ __ _ - 65 958 133 40 32 1 121 58 752 ______ Total Southern States Ohio Cincinnati Cleveland 764 1,334 440 _ _ 97 37 169 16 51 -- 1,691 153 946 464 - 79 42 9 104 36 117 186 38 391 323 123 42 26 24 17 16 5 229 915 72 19 22 178 12 144 58 48 4 s 8 1 2 4 160 5 70 81 156 84 15 44 5 Total addition losses to profits charged off 2,230 320 1,261 615 1 061 1,123 358 108 114 23 1,713 579 58 933 2,159 896 1,848 2,328 703 241 1,160 80 Dividends 2,838 638 1,681 1,643 748 683 1,012 90 1,361 738 1 523 688 789 661 563 3,589 1 979 1,662 400 1,181 345 536 671 392 4,121 1,381 125 854 221 5 48 33 93 324 118 5 56 27 14 465 63 204 789 551 312 6,679 514 59 59 46 113 67 271 356 124 578 432 138 1,347 551 169 46 532 156 869 330 186 48 53 85 16 49 26 10 69 122 23 71 78 42 65 606 30 1,505 2,547 1,906 120 477 642 5 915 Net addition to profits to capital and surplus DiviDivi- dends to dends to capital capital and surplus Net addition to profits to capital Per cent Per cent 11.70 6.75 10 13 5 62 12.43 6.70 11.07 6.63 7 52 5 02 7.72 4.63 9.64 17.01 3 00 1.64 12.99 8.09 10 00 6 40 9.72 5.82 17.69 6.70 5.83 9.77 7.25 10.69 7.84 14.00 5.74 8.78 8.33 10.71 2.88 2.09 11.96 7.71 7.26 5.32 6.72 10.16 6.95 5.11 11.27 8.90 8.89 6.17 10.00 6.00 10.52 6.24 42.45 24.61 15.17 9.73 6.67 12.00 11.63 6.39 Per cent Per cent 8.90 5.13 14 22 7 89 13.67 7.36 9.39 15.69 7 07 4.72 2.72 1.63 11.05 19.50 2 67 1 45 10.64 6.62 18 45 11 81 12 54 7 51 35.28 13.36 14.38 8.59 10 53 7 15 20.11 11.26 7.65 5.00 15.34 11.94 7.81 5.68 19.19 12.38 7.54 10.28 15.75 10.41 11.60 8.54 10.24 8.09 10.86 7.54 7.33 4.40 13.02 7.71 25.72 14.91 13.34 8.56 342 14 40 175 23 37 1,129 457 322 33 2,342 195 1,993 25,061 30,771 29,332 11.27 6.98 11.83 7.32 1 84 730 24 210 3 8 197 2 39 4,324 348 433 4,228 1,778 745 3,946 1,491 476 10.08 18 41 9.92 5.83 11.13 6.06 10.80 21.95 15.52 6.25 13 27 9.49 1 92 48 78 2 15 19,150 1,348 1,887 1,509 173 274 124 73 54 Net Other losses 740 22 1,861 1,543 1,677 1307 662 7 243 230 238 1 70 194 60b 449 196 5,782 297 517 5 623 On On trust banking On depart- house, foreign ment op- furni- exchange erations ture, and fixtures Ratios 16.15 8.87 Columbus...... — .-...-..-----———Toledo. Indiana Indianapolis —: Illinois _-. Chicago, Cent, res Chicago, other res Peoria , Michigan Detroit.— Grand Rapids —_ Wisconsin.. ----Milwaukee Minnesota _ Minneapolis St. Paul.... Iowa__ Cedar Rapids_..DesMoines__ Dubuque Sioux City „ — Missouri Kansas City St. Joseph St. Louis _ Total Middle Western States North Dakota._._ South Dakota Nebraska. Lincoln Omaha_._ Kansas Kansas City Topeka_ Wichita Montana. Helena _ Wyoming Colorado Denver. _ __ Pueblo _-_ New Mexico Oklahoma... Muskogee _._ Oklahoma City _ Tulsa Total Western States... »Deficit. 324 4 906 534 2,124 1,903 68 57 556 301 59 3,043 399 1,716 910 397 2,939 102 339 25 135 509 568 251 704 92 27 191 226 410 224 19,171 58 81 11 315 2 588 189 62 30 315 409 23 240 3 75 24 30 78 19 26 122 6 114 211 8 7 8 64 29 8 118 4, 783 299 3,474 76 50 39 14 116 88 23 2 33 21 1 1 27 17 25 37 134 109 77 12 222 133 4 222 124 219 88 284 117 7 16 2 4 21 609 734 1,175 117 1,066 1,782 98 89 46 927 61 228 1,178 847 101 450 2,657 48 402 740 18 144 408 12 68 91 5 66 42 13, 355 1,316 44 107 35 2 8.45 4.00 6.49 5.65 6.62 5.68 5.20 5.58 8.24 6.09 6.88 7.19 9.75 5.74 7.12 6.72 4.12 4.43 1.79 7.20 2.32 4.93 5.73 4.20 8.18 14.93 55.20 13.41 15.82 14.26 20.67 16.96 21.33 19.04 17.48 14.78 15.86 16.71 7.70 13.68 21.96 7.36 13.80 8.59 11.20 8.61 11.58 12.04 9.18 11.28 9.76 9.33 10.29 10.54 5.16 8.17 13.20 11.82 2.15 11.57 2.20 9.61 13.42 .64 9.20 7.03 1.49 8.10 1.63 6.48 9.07 .34 6.73 20 2,417 30,164 48,859 37,151 10.52 6.46 13.84 8.50 60 424 1 120 74 797 847 1, 374 166 1,491 2,292 149 153 208 1,024 61 354 1,532 1,468 125 595 3,420 54 671 905 194 126 250 161 127 613 35 187 299 429 85 367 472 1,030 111 174 767 180 472 1,208 320 198 641 163 401 1,102 80 132 194 354 50 215 604 717 160 97 1,165 85 522 370 5.50 4.36 8.37 10.69 8.10 8.08 8.42 9.43 8.08 7.18 11.11 8.74 9.11 14.20 26.67 4.77 7.64 9.44 9.76 6.22 3.78 2.98 5.53 6.79 5.49 5.45 6.30 7.19 5.27 5.07 6.45 5.07 5.93 7.48 9.14 3.22 6.01 7.42 8.50 4.53 3.33 2.77 3.27 10.56 2.57 4.50 3.68 13.36 12.46 8.70 18.89 14.92 7.12 20.40 18.50 8.55 5.03 20.00 8.82 20.30 2.2£ 1.89 2.16 6.71 1.74 3.03 2.76 10.19 8.13 6.15 10.97 8.66 4.64 10.74 6.34 5.77 3.95 15.72 7.69 14.80 1,853 17, 686 7,287 7,570 8.19 5.62 7.88 5.41 13 1 37 72 93 12 17 246 1,107 17.13 16.00 10.13 7.97 10.96 10.14 7.33 12.97 13.92 10.92 10.89 11.08 15.45 8.56 11.92 11.19 6.06 7.45 2.59 10.29 3.12 7.31 8.48 7.82 11.18 6 75 38 29 152 1 84 45 135 35 175 276 28 5 22 40 71 138 120 83 49 41 942 80 2,512 610 4,126 5,480 403 321 2,312 1,310 196 1,981 1,530 1,636 1,359 632 1,062 82 70 72 64 548 598 86 3,226 1 I 18 2 161 14 420 70 25 3 111 49 21 128 5 243 47 6 463 70 23 821 276 3,324 1,210 5,368 11,171 933 528 3,164 2,098 266 2,836 1,654 1,471 1,559 1,241 1452 130 58 81 45 720 946 7 2,653 515 44 1,589 776 3,559 2,386 234 102 1,205 892 107 1,637 531 2,253 1,069 717 3,655 172 391 32 168 674 758 294 1,299 9 14 Abstract of reports of earnings, expenses, and dividends of national banks for the year ended June SO, 1927—Continued [In thousands of dollars] Losses and depreciation charged off On On On trust banking On loans bonds, On house, departand dis- securities, ment foreign op- furni- exchange counts etc. erations ture, and fixtures Location Washington Seattle Spokane _ Oregon Portland California _ Los Angeles Oakland _ _ San Francisco Idaho Utah. Ogden Salt Lake City _ _ _ Nevada Arizona.. . _. . Total Pacific States Alaska—nonmember___ Hawaii—nonmember _ __ Total nonmember banks. Total United States Deficit. ._ _ _ 833 453 189 46 2 162 111 402 18 745 412 2,042 1,231 216 1,220 60 336 87 80 262 472 86 11 207 28 Eatios Total losses charged off Other losses 11 1 111 91 1 101 41 10 41 5 1 270 154 39 1,308 702 84 194 576 746 2,436 2,397 128 4,096 792 96 43 243 222 608 85 52 43 278 103 8,853 1,310 14 1 3 8 11 15 11 18 3 47 86, 512 27, 579 14, 410 12,149 141, 689 Net adDiviNet ad- dition to Dividends to dition to profits to dends to capital profits capital capital and sur- capitalto and surplus plus Per cent 10.48 16.81 6.06 9.13 13.32 10.23 13.35 7.53 8.03 4.40 7.38 5.33 12.10 9 50 3.54 Per cent Per cent Per cent 7.34 11.82 8.28 10.78 22.92 14.69 2.18 5.03 2.63 5.10 6.09 7.64 14.85 9.61 20.59 7.03 9.39 6.45 8.98 15.74 10.58 5.28 3.95 10.06 4.88 14.89 9.04 2.34 3.15 1.67 5.09 6.50 4.49 4.44 5.73 4.78 8.13 13.24 8.90 5 00 6 46 7 36 2.85 7 1 26 88 29 3 55 19 183 1247 160 59 40 254 133 54 1,747 20 1,251 13,183 17, 368 13, 279 9.82 6.42 12.85 8.40 2 1 26 21 83 160 56 68 28.00 11.33 16.72 5.15 41.50 26.67 24.78 12.12 243 124 15. 50 7.49 30.38 14.68 252, 319 180, 753 12.26 6.62 17.12 9.24 25 32 7 522 964 1,042 482 1,153 2,236 2,826 171 7,593 471 655 60 22 101 144 317 2 1,088 1,421 Dividends 994 869 3,051 1,679 294 1,811 64 30 1 18 62 27 100 501 19 6 Net addition to profits 517 d i n o w 3 O Earnings, expenses, and dividends of national banks by Federal Reserve districts, year ended June SO, 1927 [In thousands of dollars] District Capital Surplus . Capital and surplus Gross earnings: Interest and discount on loans Interest (including dividends) on investments _ . _Interest on balances with other banks Interest not classified Domestic exchange and collection charges. Foreign exchange department Commissions and earnings from insurance premiums and negotiation of real estate loans Trust department— _. Profits on securities sold Other earnings.'..Total-Expenses paid: Salaries and wages Interest and discount on borrowed moneyInterest on bank deposits Interest on demand deposits Interest on time deposits Interest not classified _ _ . _ .Taxes Other expenses Total-Net earnings during period . Recoveries on charged-off assets: Loans and discounts . Bonds, securities, etc All other . . Total-- . District District District District No. 2 No. 3 No. 4 No. 5 (761 (683 (731 (517 banks) banks) banks) banks) 120,957 102,464 223,421 317, 774 370,418 688,192 108,994 186, 721 295, 715 124,680 127,329 252,009 96,132 73,226 169,358 73,035 50,533 123,568 190,387 124,572 314,959 73, 790 36,229 110,019 59,083 32,107 91,190 84,793 39, 730 124, 523 89,105 41,448 130, 553 134,643 71,313 205, 956 800 855 1,655 1,474,173 1,256, 945 2, 731,118 66,684 64,288 49,218 41,376 102,149 34,588 32,171 48,889 43,264 68,742 418 767,292 7,657 1,868 618 1,736 109 25, 605 2,621 2,089 2,230 1,859 10,349 1,407 902 759 81 11,264 1,318 997 1,593 149 12, 885 2,933 558 1,190 25 5,441 2,191 830 1,691 143 19, 507 2,658 372 1,366 1,186 173 33 50 1 272,886 26,878 9,659 16, 256 13, 762 57,123 158,382 24, 688 1,941 189 532 829 83, 919 5,169 309 3,166 8,038 30,458 1,140 355 482 894 31, 593 2,321 647 526 381 9,347 1,278 1,793 935 67 34 1,092 4,353 7,419 35 4,606 19, 793 19,136 6 494 5,480 3,105 19 705 6,551 5,392 17 487 1,664 3,852 2 402 1,002 3,703 216 690 3,119 8,842 52 243 1,099 1,896 457 106 1,150 2,506 88 488 1,312 5,865 5 130 564 3,794 84 1,364 6,568 6,217 2 4 5 95 1,017 10, 811 52,660 71,822 98,200 302,553 109, 098 112,423 68,658 58,473 149, 420 51, 376 51, 711 74, 233 58, 053 108, 064 781 1,243,043 16,793 1,554 2,686 13, 929 20,072 365 3,908 9,847 52, 595 3,829 17,972 38,034 42,455 1,041 14,093 31,873 18,398 1,712 2,275 10,445 22,840 1,331 5,444 10, 268 20,101 1,478 4,140 11,294 24, 525 1,399 6,594 11,492 13, 511 1,744 2,123 4,125 14,848 1,3854,663 7,160 12, 753 1,563 1,981 3,633 10,887 583 4,107 7,412 30,032 1,856 7,213 16,130 23,968 1,632 10,109 18, 664 10, 611 853 2,821 4,429 9,468 452 4,580 5,649 11,338 418 1,921 2,693 13, 633 779 2,894 6,239 17, 618 762 4,239 5,914 11,165 383 4,419 10,315 14,380 1,160 2,372 4,817 6,086 214 4,397 7,929 24,931 1,413 4,193 7,178 21,378 715 5,096 15,156 185 8 98 54 21 33 103 243,246 18,342 53,944 122,719 221,379 10,300 70,337 142,107 69,154 201,892 72, 713 81,023 49, 559 42,919 109,604 38, 863 39, 915 54,815 41,355 80, 060 502 882,374 29,046 100,661 36,385 31,400 19,099 15, 554 39,816 12, 513 11,796 19,418 16, 698 28,004 279 360, 669 911 1,169 252 3,137 3,368 921 628 1,207 695 911 806 429 600 179 257 905 124 312 2,742 933 734 1,019 156 296 1,212 293 296 3,013 377 499 2,109 64 317 1,689 204 564 7 4 18,883 8.884 5, 572 31,378 108,087 38,915 33, 546 20,135 16,895 44,225 13,984 13, 597 23,307 19,188 30, 461 290 394,008 i Includes nonmember banks of Alaska and the Territory of Hawaii, District District District District District District District NonGrand No. 6 No. 8 N o . 10 No. 12 member No. 7 No. 9 No. 11 total (485 (946 (537 (674 (708 (7,796 (378 (994 banks banks) banks) banks) banks) banks) b a nks)1 banks) banks) (6 banks) No.l (376 banks) Earnings, expenses, and dividends of national banks by Federal Reserve districts, year ended June SO, 1927—Continued OS to [In thousands of dollars] District No. 1 (376 banks) Losses and depreciation charged off: On loans and discounts On bonds, securities, etc _ On trust department operations On banking house, furniture and fixtures. On foreign exchange Other losses Total Net addition to profits from operations during period Total dividends declared since June 30,1926.. _ Ratios: Dividends to capital2 per cent.. Dividends to capital and surplus 8_do Net addition to profits to capital 2_.do Net addition to profits to capital and surplus 2 per cent > Capital and surplus as of June 30,1927. District District District District District District District District District District District NonNo. 2 No. 5 No. 6 No. 7 No. 9 No. 10 No. 11 No. 3 No. 4 No. 12 member No. 8 (761 (517 (378 (994 (674 (946 (683 (731 (537 (485 (708 banks banks) banks) banks) banks) banks) banks) banks) banks) b a n k s (6 banks) banks) banks) 7,880 5,551 40 1,056 102 419 9,877 8,486 83 2,377 72 3,041 3,702 2,305 23 1,375 24 504 6,398 4,161 2 1,710 33 891 5,082 663 1 746 60 £61 5,689 490 19 710 5 505 10,437 1,773 87 1,758 3 1,354 3,338 404 212 565 183 530 5,796 806 2 447 1 515 11,509 1,310 39 1,077 14 1,762 8,140 406 12 827 15,048 23,936 7,933 13,195 7,113 7,418 15, 412 5,232 7,567 16, 330 14,243 84,151 50,438 30,982 17,842 20,351 15, 286 13,022 10, 956 9,477 8,819 28,813 19, 574 8,752 9,394 11.78 6.37 13.50 15.87 7.33 26.48 16.37 6.03 28.43 12.26 6.07 16.32 11.40 6.47 13.55 12.08 7.14 12.98 10.28 6.21 15.13 7.31 12.23 10.48 8.08 7.69 7.67 9.15 Grand total (7,796 banks) 15 11 968 8,649 1,213 2 1,744 20 1,096 3 86,512 27,579 522 14,410 517 12,149 15, 711 10,353 12,724 47 141,689 6,030 5,379 7,596 7,397 8,835 8,022 17, 737 13, 279 243 124 252,319 180,753 12.73 8.54 11.86 9.10 5.90 10.21 8.72 5.94 8.96 9.00 6.14 9.92 9.86 6.45 13.17 15.50 7.49 30.38 12.26 6.62 17.12 7.95 6.61 6.10 6.77 8.61 14.68 9.24 18 REPORT OF THE COMPTROLLER OF THE CURRENCY GS National-bank investments in United States Government securities and other bonds and securities, etc., loans and discounts (including rediscounts), and losses charged off on account of bonds and securities, etc., and loans and discounts, years ended June 30, 1918 to 1927, inclusive [In thousands of dollars] Year ended June 30— 1918 1919 1920 .„.. 1921 1922 1923..„.._.._1924.. 1925 1926 1927... United States Government securities Losses Loans and charged Total discounts off on Other and (including bonds bonds and bonds securities securities, and seredisetc. curities, counts) 2,129,283 3,176,314 2,269, 575 2,019,497 2,285,459 2,693, 846 2,481, 778 2,536, 767 2,469,268 2,596,178 etc. 1,840,487 1,875,609 1,916,890 2,005,584 2,277, 866 2,375,857 2,660, 550 3,193,677 3,372,985 3, 797,040 3,969, 770 5,051,923 4,186,465 4,025,081 4, 563, 325 5,069,703 5,142, 328 5, 730,444 5, 842, 253 6,393, 218 10,135, 842 11,010,206 13,611,416 12,004,515 11, 248,214 11, 817, 671 11,978,728 12, 674,067 13, 417, 674 13,955, 696 44,350 27,819 61, 790 76,179 33,444 21, 890 24, 642 25,301 23,783 27, 579 Losses charged off on loans and discounts Percentage of losses charged off on bonds and securities to total bonds and securities owned 33,964 35,440 31, 284 76, 210 135, 208 120, 438 102, 814 95, 552 93, 605 86, 512 1.12 .55 1.48 1.89 .73 .43 .48 .44 .41 .43 Percentage of losses charged off on account loans and discounts to total loans and discounts 0.34 .32 .23 .63 1.20 1.02 .86 .75 .70 .62 Number of national banks, capital, surplus, net addition to profits, dividends, and ratios, years ended June 30, 1914. to 1927 [In thousands of dollars] Ratios Numbanks Year ended June 30— ber of 1914. 1915. 1916. 1917. 1918. 1919. 1920. 1921. 1922. 1923. 1924. 1925. 1926. 1927. 7,453 7,560 7,571 7,589 7,691 7,762 8,019 8,147 8,246 8,238 8,085 8,070 7,978 7,796 Capital Surplus 1,063,978 ,068,577 ,066,209 , 081, 670 714,117 726, 620 731,820 765,918 816,801 869,457 984,977 1, 026,270 1,049,228 1,070,600 1,080,578 1,118,953 1,198, 899 1, 256,945 ,115,507 1, 221, 453 1,273,237 1,307,199 1,328,791 1,334,011 1,369,385 1,412,872 1,474,173 Net addition to profits Dividends 149,270 127,095 157,544 194,321 212,332 240,366 120,947 113,707 114,725 125, 538 129,778 135, 588 147,793 158,158 165,884 179,176 163, 683 165,033 173, 753 180, 753 216,106 183,670 203,488 195,706 223,935 249,167 252,319 Dividends to capital Dividends to capital and surplus Net addition to profits to capital Net addition to profits to capital and surplus Per cent Per cent Per cent Per cent 11.37 6.80 14.03 8.39 10.63 6.33 11.89 7.08 10.76 6.38 14.78 8.76 11.61 6.79 17.96 10.52 11.82 6.78 19.33 11.09 12.15 6.83 21. 55 12.11 12.10 6.70 23.09 12.78 12.42 6.88 16.97 9.40 12.69 7.04 14.05 7.79 13.48 7.47 15.31 8.48 12.27 6.78 14.67 8.11 12.05 6.63 16.35 9.00 9.54 12.30 6.65 17.63 9.24 12.26 6.62 17.12 64 REPORT OF THE COMPTROLLER OF THE CURRENCY NATIONAL BANK EXAMINERS The following is a list of the examiners in the service on October 31, 1927: CHIEF NATIONAL BANK EXAMINER Pole, J. W., Office Comptroller of the Currency, Washington, D. C. ASSISTANT CHIEF NATIONAL BANK EXAMINERS Office Comptroller of the Currency, Washington, D. C. Proctor, J.L. Hodgson, R. M. Smith, C. F. McBryde, W. W. DISTRICT CHIEF NATIONAL BANK EXAMINERS [By Federal reserve districts] F. R. Dist. No. Name 1 Williams, F. D 2 Reeves, Owen T., jr__ 3 Newnham, Stephen L_ 4 Leyburn, Alfred P 5 Folger, William P 6 Robb, Ellis D 7 Sims, Howard M 8 Wood, John S 9 Patterson, B. K Address 10 Roberts, L. K 11 Collier, Richard H _ 12 Harris, Thomas E Federal Reserve Bank Building, Boston, Mass. Telephone No., Congress 3859. 525 Federal Reserve Bank Building, New York, N. Y. Telephone No., Whitehall 4737. 1414 Jefferson Building, Philadelphia, Pa. Telephone No., Walnut 4309. 715 Federal Reserve Bank Building, Cleveland, Ohio. Telephone No., Main 325. Sixth floor, Metropolitan Bank Building, Washington, D. C. Telephone No., Main 1689. 606 Fourth National Bank Building, Atlanta, Ga. Telephone No., Ivy 6497. 164 West Jackson Boulevard, room 1203, Chicago, 111. Telephone No., Wabash 5340. 1310 Federal Commerce Trust Building, St. Louis, Mo. Telephone No., Olive 5827. 1334 First National-Soo Line Building, Minneapolis, Minn. Telephone No., Main 4617. 800 Federal Reserve Bank Building, Kansas City, Mo. Telephone No., Victor 1648. 1706 Republic Bank Building, Dallas, Tex. Telephone No., X 3698. 1103 Alexander Building, San Francisco, Calif. Telephone No., Sutter 4438. NATIONAL BANK EXAMINERS 3 10 7 5 6 9 Allanson, Edward A_ Allen, E. F Allsup, A. S Amrhein, Joseph A__ Anderson, E. F. (Rec)_ Anderson, O. A 1414 Jefferson Building, Philadelphia, Pa. Post-office box, 1546, Muskogee, Okla. 1428 North Main Street, Decatur, 111. 910 Virginia Railway & Power Building, Richmond, Va. Georgia National Bank, Athens, Ga. Care of G. W. Swords, American National Bank Building, Billings, Mont. REPORT OF THE COMPTROLLER OF THE CURRENCY 65 National bank examiners—Continued F. R. Dist. No. 2 7 5 3 12 3 10 9 9 4 7 11 3 9 4 10 1 5 10 12 10 4 1 12 4 11 12 6 11 12 6 5 3 5 2 2 12 10 Address 525 Federal Reserve Bank Building, New York, N. Y. Austin, James W. (JG)_- 164 West Jackson Boulevard, room 1203, Chicago, 111. Bailey, J. L ._ Post-office box 1185, Huntington, W. Va. 1414 Jefferson Building, Philadelphia, Pa. Baker, William B Baldridge, William H___ 403 Empire State Building, Spokane, Wash. Barthe, Charles E _ Post-office box 185, Reading, Pa. Post-office box 940, Knoxville, Tenn. Basham, A. A 525 Federal Reserve Bank Building, New Beaton, Otis W York, N. Y. Becker, Edwin J., jr.(JG) 800 Federal Reserve Bank Building, Kansas City, Mo. Beise, S. Clark 17 Magill Block, Fargo, N. Dak. 4532 Grand Avenue, Minneapolis, Minn. Bina, J. C Bleakley, Benjamin J Post-office box 151, Lima, Ohio. Bly, J. Garver (REC)_._ First National Bank, Allegan, Mich. Post-office box 1471, Abilene, Tex. Boardman, Paul (JG) Post-office Building, Wilkes Barre, Pa. Boysen, Alfred 1334 First National Soo Line Building, Bryan, Charles A Minneapolis, Minn. Byers, R. W Post-office box 1058, Pittsburgh, Pa. 800 Federal Reserve Bank Building, Kansas Campbell, George H City, Mo. Federal Reserve Bank Building, Boston, Carolan, William B Mass. Sixth floor, Metropolitan Bank Building, Carson, T. D Washington, D. C. Room 185, Treasury Department, WashCarter, Aubrey B. (U) _ _ ington, D. C. 800 Federal Reserve Bank Building, Kansas Chapman, Edward L City, Mo. 1103 Alexander Building, San Francisco, Chorpening, I. I „ Calif. Post-office box 574, Hutchinson, Kans. Clark, J. A. (JG) Post-office box 1058, Pittsburgh, Pa. Clarke, Addison A Coffin, George M. (REC) First National Bank, Putnam, Conn. Coffin, G. S ___ 1103 Alexander Building, San Francisco, Calif. Colley, Leon H Post-office box 273, Salem, Ohio. Collins, L. C Federal Reserve Bank, Houston, Tex. Cooke, A. J. (JG) 1103 Alexander Building, San Francisco, Calif. Cooney, D. H 715 Federal Reserve Bank Building, Cleveland, Ohio. Cottingham, T. J 823 Age-Herald Building, Birmingham, Ala. Cowan, David (REC).__ First National Bank of Las Vegas, East Las Vegas, N. Mex. Crawley, W. C ._._ 228 Post-office Building., Portland, Oreg. Fourth National Bank Building, AtCunningham, F. F. (JG) 606lanta, Ga. Dalton, John W ._ Post-office box 958, Charlotte, N. C. Davenport, H. B_ Post-office box 61, Lancaster, Pa. Davis, Thomas H Post-office box 1162, Columbia, S. C. Denton, Frank R Post-office box 607, Albany, N. Y. Detlefsen, E. O 525 Federal Reserve Bank Building, New York, N. Y. 400 H. W. Hellman Building, Los Angeles, Donahue, C. A. (JG) Calif. Donahue, W. H . Post-office box 186, Clinton, Okla. Ashwood, Cecil 66 REPORT OF THE COMPTROLLER OF THE CURRENCY National bank examiners—Continued F. R. Dist. No. 1 9 8 2 7 8 11 6 4 9 11 2 2 10 1 7 7 3 4 4 11 12 4 12 1 5 1 4 3 7 11 10 12 9 10 2 9 10 1 11 Address Federal Reserve Bank Building, Boston, Mass. 1334 First National Soo Line Building, Dougherty, J. M Minneapolis, Minn. 1310 Federal Commerce Trust Building, Drexel, Charles F St. Louis, Mo. 525 Federal Reserve Bank Building, New Dwyer, Thomas R York, N. Y. B-l Central National Bank Building, Peoria, Dye, Sam W 111. 214 Federal Building, Evansville, Ind. Elkins, Lewis R 1706 Republic Bank Building, Dallas, Tex. Embry, Jacob Post-office box 1828, Atlanta, Ga. Evans, Clyde J Post-office box 506, Richmond, Ky. Faris, A. B National Bank of Commerce, Pierre, S. Dak. Fiman, C. F. (REC) 519 Bedell Building, San Antonio, Tex. Foster, Charles W_.' Foy, A. B __ 525 Federal Reserve Bank Building, New York, N. Y. Do. Francis, C. C Room No. 2, King Building, Norfolk, Nebr. Fraser, J. A Freeman, O. M 89 Angell Street, Providence, R. I. 213 Federal Building, Des Moines, Iowa. French, H. S Fuller, Harry B Post-office box 371, Grand Rapids, Mich. 1414 Jefferson Building, Philadelphia, Pa. Funsten, William P Furbee, Ernest M Post-office box 1058, Pittsburgh, Pa. Fulton, Ira J 715 Federal Reserve Bank Building, Cleveland, Ohio. Care of Division of Insolvent National Garrett, Robert D Banks, office of Comptroller of the Currency, Washington, D. C. Gilbert, H. B Post-office box 318, Wichita Falls, Tex. Glazier, Charles A Post-office box 226, Provo, Utah. Goodhart, R. W. (REC)__ Care of Division of Insolvent National Banks, office of Comptroller of the Currency, Washington, D. C. Graham, H. A Post-office box 463, Columbus, Ohio. Gray, W. M. (REC) First National Bank, Joseph, Oreg. Green, A. W (JG) Federal Reserve Bank Building, Boston, Mass. Green, Charles W Post-office box 752, Cumberland, Md. Federal Reserve Bank Building, Boston, Greene, Thomas M Mass. Griswold, W. C 413 East Winter Avenue, Newcastle, Pa. Hart man, Charles H 1414 Jefferson Building, Philadelphia, Pa. Harwood, Edward G. (JG) 164 West Jackson Boulevard, Room 1203, Chicago, 111. Hedrick, Gilbar C 1706 Republic Bank Building, Dallas, Tex. 800 Federal Reserve Bank Building, Kansas Hewitt, Roland B City, Mo. Hooper, Marshall 238 Central Building, Seattle, Wash. 1334 First National Soo Line Building, MinHoover, Paul E neapolis, Minn. Horner, H. N Post-office box 606, Norman, Okla. Hotchkin, Paul L 326 Ten Eyck Street, Watertown, N. Y. 306 Dakota Bank Building, Aberdeen, Huck, William F S. Dak. Coffeyville, Kans., Post-office box 462. Hughes, J. G Federal Reserve Bank Building, Boston, Hurley, Michael J___ Mass. Hutt, William E Sherman, Tex. Dooley, Thomas E REPORT OF THE COMPTROLLER OF THE CURRENCY 67 National bank examiners—-Continued F. R. Dist. No. 7 5 8 9 10 3 2 10 7 11 12 6 2 4 6 12 3 11 2 6 2 11 3 3 4 12 2 2 12 8 11 2 6 10 7 12 5 10 9 8 10 10 Address Johnson, C. E. H Johnson, Robin M. (REC) Joseph, Edward M Kane, T. F 331 Federal Building, Milwaukee, Wis. Farmers National Bank of Hempstead, Tex. Post-office box 589, Danville, 111. Sixth floor, Metropolitan Bank Building, Washington, D. C. 207 Federal Building, Louisville, Ky. Kane, W. W., jr Kelly, Burdette (REC). First National Bank, Torrington, Wyo. 875 South Williams Street, Denver, Colo. Kennedy, L. G Post-office box 32, Altoona, Pa. Ketner, John H 20 Monroe Place, Port Chester, N. Y. Klein, Benton Lahman, H. S. (REC).. First National Bank of Milford, Milford, Iowa. —* 213 Federal Building, Des Moines, Iowa. Laird, H. A Post-office box 667, Greenville, Tex. Lamb, Ernest 1124 North Olive Street, Santa Ana, Calif. Lamm, R. Foster. Post-office box 1364, New Orleans, La. Lammond, W. M_ 525 Federal Reserve Bank Building, New Lanning, L. C York, N. Y. Lanum, H. L Post-office box 621, Cincinnati, Ohio. Lifsey, W. P . . . Post-office box 442, Albany, Ga. 228 Post Office Building, Portland, Oreg. Linden, C O . (JG) Loewer, Charles H. (JG). Post-office box 491, Williamsport, Pa. 1706 Republic Bank Building, Dallas, Tex. Loftis, C. A 525 Federal Reserve Bapk Building, New Lorang, P. J York, N. Y. Luiken, John B_ 720 Bell Building, Montgomery, Ala. 525 Federal Reserve Bank Building, New Luscombe, A. P_ York, N. Y. 1334 First National Soo Line Building, Lytle, Frank SMinneapolis, Minn. Post-office box 1584, Waco, Tex. McCans, A. B 1414 Jefferson Building, Philadelphia, Pa. McConaughy, R. C._ Do. McGinnis, Francis J. (JG) 715 Federal Reserve Bank Building, CleveMcKee, Joel S land, Ohio. 1103 Alexander Building, San Francisco, McLean, Charles EL Calif. Macdonald, F. G_... Post-office box 926, Buffalo, N. Y. Machleid, C. J 612 Prospect Avenue, Brooklyn, N. Y. Madland, L. L 238 Central Building, Seattle, Wash. Mann, Stuart H 1310 Federal Commerce Trust Building, St. Louis, Mo. Post-office box 1223, Shreveport, La. Marcom, Roy Apartment 22, 502 West One hundred and Marcuse, Benjamin. fifty-second Street, New York, N. Y. Post-office box 822, Nashville, Tenn. Millard, S. T 800 Federal Reserve Bank Building, Kansas Miller, Louis A City, Mo. Moon, Earl W 335 Federal Building, Rock Island, 111. Morgan, C. E. (JG). 326 Yates Building, Boise, Idaho. Motter, Charles W_. 419 Commercial National Bank Building, Raleigh, N. C. Murphy, Daniel F__ 286 Harrison Street, Manchester, N. H. 202 Federal Building, Grand Island, Nebr. Nelson, F. S 1334 First National Soo Line Building, Nelson, Nels (JG) —. Minneapolis, Minn. Nieman, Roy E 1310 Federal Commerce Trust Building, St. Louis, Mo. 800 Federal Reserve Bank Building, Kansas Nomland, Harald City, Mo. Noone, D. L. (REC). Union National Bank, Beloit, Kans. 68 REPORT OF THE COMPTROLLER OF THE CURRENCY National bank examiners—Continued F. R. Dist. No. 6 5 Address Post-office box 1175, Lakeland, Fla. Sixth floor, Metropolitan Bank Building, Washington, D. C. 12 400 H. W. Hellman Building, Los Angeles Palmer, R. E. A. (JG)— Calif. 1 Federal Reserve Bank Building, Boston, Parker, Edward F Mass. Pearson, Herbert (REC) National Bank of Franklin, Franklin, Tenn. 10 Penn, D. V. (JG) Post-office box 545, Guthrie, Okla. 9 Penningroth, W. J 1334 First National Soo Line Building, Minneapolis, Minn. 7 Potter, Fulton F. (REC) First National Bank, Cumberland, Iowa. 164 West Jackson Boulevard, room 1203, 7 Powell, Charles E Chicago, 111. 12 Price, A. E. (JG) 1107 Mattei Building, Fresno, Calif. 7 Quinn, H. F. (JG) 223 Ford Building, Detroit, Mich. 5 Ramsdell, P. C Sixth floor, Metropolitan Bank Building, Washington, D. C. 3 Ransom, Frank T 1414 Jefferson Building, Philadelphia, Pa. 1 2 Rasmussen, Frank E 525 Federal Reserve Bank Building, New York, N. Y. 8 Reinholdt, C. A 4954 Lindell Avenue, St. Louis, Mo. 10 Rial, Benjamin P. (JG). > 800 Federal Reserve Bank Building, Kansas City, Mo. 10 Riley, Jay*M. (REC)___ City National Bank, Bismarck, N. Dak. 11 Roberts, J. H 602 West Second Avenue, Corsicana, Tex. 11 Roots, J. O Post-office box 1062, Austin, Tex. 10 Ross, M. A. (REC) City National Bank, Kearney, Nebr. Federal Reserve Bank Building, Boston, 1 Ryan, Frank J Mass. Sailor, Vance L Rainwater Apartments, East Capitol Avenue, Little Rock, Ark. Sanders, J. L Post-office box 592, Indianapolis, Ind. Schmidt, H. W. (JG).-- Post-office box 527, Rock Island, 111. Schofield, John W. (U)_. 1539 Hay worth Avenue, Hollywood, Calif. Sedlacek, L. H 1334 First National Soo Line Building, Minneapolis, Minn. 9 Sevison, Henry 306 Torrey Building, Duluth, Minn. 12 1103 Alexander Building, San Francisco Shapirer, Leo Calif. 525 Federal Reserve Bank Building, New Shea, L. A York, N. Y. 2 Do. 11 Sheehan, W. F 1706 Republic Bank Building, Dallas, Tex. 3 Sibley, W. L. (JG) Post-office box 981, Harrisburg, Pa. 4 Smith, George F Post-office box 336, West Newton, Pa. 9 Smith, George H Weiser, Idaho. 2 Smith, John H. (REC)... 525 Federal Reserve Bank Building, New Smith, Robert F York, N. Y. 10 Smith, Roy E. (REC) — First National Bank, Sterling, Colo. 2 Smouse, Murray C 525 Federal Reserve Bank Building, New York, N. Y. Snapp, John W Sixth floor, Metropolitan Bank Building, Washington, D. C. Snyder, Vernon G Post-office box 231, Sunbury, Pa. 1334 First National Soo Line Building, Stevens, Lyle T Minneapolis, Minn. Stewart, Adelia M Room 217, Treasury Department, office of the Comptroller of the Currency, Washington, D. C. Stewart, Charles A Post-office box 63, East Falls Church, Va. Northcutt, V. H Ockershausen, F. C. (JG) REPORT OF THE COMPTROLLER OF THE CURRENCY 69 National bank examiners—Continued F. K. Dist. No. Address 525 Federal Reserve Bank Building, New York, N. Y. Post-office box 313, Honolulu, Hawaii. Lock box 450, Mandan, N. Dak. Post-office box 498, Cheyenne, Wyo. 525 Federal Reserve Bank Building, New York, N. Y. 164 West Jackson Boulevard, room 1203, Chicago, 111. 715 Federal Reserve Bank Building, Cleveland, Ohio. American National Bank Building, Billings, Mont. 1103 Alexander Building, San Francisco, Calif. 213 Federal Building, Des Moines, Iowa. Marietta, Ohio. Sheridan Apartments, Fort Wayne, Ind. First National Bank, Allendale, S. C. 163 Henry Street, Kingston, N. Y. Hotel Witter, Wisconsin Rapids, Wis. 213 Federal Building, Des Moines, Iowa. 525 Federal Reserve Bank Building, New York, N. Y. 1103 Alexander Building, San Francisco, Calif. 238 Central Building, Seattle, Wash. 715 Federal Reserve Bank Building, Cleveland, Ohio. 506 California Building, Denver, Colo. 114 North Munn Avenue, East Orange, N. J. Commercial National Bank, Wilmington, N. C. 400-401 H. W. Hellman Building, Los Angeles, Calif. Room 204, Treasury Department, office of the Comptroller of the Currency, Washington, D. C. Post-office box 477, Council Bluffs, Iowa. 107 Alta Vista Avenue, Waterloo, Iowa; Pulaski National Bank Building, Pulaski,Va. 586 East Elm Street, Springfield, Mo. 228 post-office building, Portland, Oreg. 223 Ford Building, Detroit, Mich. 407 Central State National Bank Building, Memphis, Tenn. Stewart, H. E 9 10 2 Stobie, C. A Storing, Charles C.(REC) Stout, C. L_ Strite, K. D Stuart, Robert K Swensen, Loren T .. Swords, George W.(REC) 12 7 4 7 6 2 7 7 2 12 12 4 Taylor, O. C. (JG) Taylor, William Thomas, T. C. (REC).__ Utt, John F . Vann, John R. (JG) (REC) Von Arb, E. A Walker, Harry W Wanberg, Joseph F Watts, John L Weigand, Charles P Welday, C. A. (JG) — - _ Whipple, A. P 10 2 White, O. W Whitney, H. S Williams, C. L. (REC).__ 12 Williams, T. M Wilson, C. F 7 7 5 8 12 7 8 Wilson, Edward B Wilson, V. J Wood, D. R Woodside, Hal Wright, E. M Wright, Irwin D Young, William R I (REC) = Acting as receiver of a national bank. (JG) =National bank examiner, junior grade. (TJ) =Unassigned. CONVICTIONS OF NATIONAL BANK OFFICERS AND OTHERS FOR VIOLATIONS OF THE NATIONAL BANKING LAWS DURING THE YEAR ENDED OCTOBER 3 1 , 1927 Information furnished by the Department of Justice relative to convictions during the year ended October 31, 1927, of officers and employees of national banks, and others, for violations of the national banking laws, is shown in the following statement: Criminal cases under the national banking laws resulting in convictions during the year ended October 81, 1927 Name of officer and others Position Title and location of the bank E. J. Downey Gurvis Hoftpauir Stanley Hill R. J. Cottle Cashier Teller Discount t e l l e r Employe First National Bank, Croton-on-Hudson, N. Y.. Merchants National Bank, Port Arthur, Tex First National Bank, Wichita Falls, Tex Albany National Bank, Laramie, Wyo __. S. L. Seaman C. E. Southwick Addison W. Milyard. Earl Fambrough W. H. Heggen H. A. Early T.John Hill Clarke C. Nye CarlH. Richter J. E. Haynes Clement L. Johnson.. Cashier Assistant cashierBookkeeper .do.. President Cashier Assistant cashier. Cashier Teller Vice president Runner B. F. Beheimer-. President Union National Bank, Rochester, Minn do..... _ Alamosa National Bank, Alamosa, Colo Georgia National Bank, Athens, Ga First National Bank, Cambridge, Iowa .do „ ..do.. First National Bank, Eureka, Kans First National Bank, Trinidad, Colo First National Bank, Mercedes, Tex First National State Bank (Philadelphia Branch), Camden, N. J. First National Bank, Boise City, Idaho H. M.Carson W. G.Bryan E. V. Brink F. Edward Walker.. Carl G. Sauer Cashier do do Assistant cashier. Bookkeeper City National Bank, Whitesboro, Tex, First National Bank, Avery, Tex First National Bank, Buffalo, Okla d Phoenix National Bank, Phoenix, Ariz... James A. McEniry.. Vice president— Corona National Bank, Corona, Calif Irving Jordan Henry J. Trah, jr__. do Bookkeeper, savings department. Messenger None Teller..Paying teller. .doFirst National Bank, Englewood, HL. Louis Stefani___. Frank Scholl W. C. Spangler.. Frank Fidler Eugene P. Saleski Bookkeeper. Des Moines National Bank, Des Moines, Iowa.. do North Texas National Bank, Dallas, Tex Bronx Office of Public National Bank, New York, N. Y. First National Bank, Meriden, Conn _.., Harry E. Jones Frank A. Jaedel__ _. Leo J. Ronk J. P. Moore (alias J. P. Harris). Employee. Cashier Teller Individualbookkeeper. First National Bank, Biloxi, Miss First National Bank, Eaton Rapids, Mich First National Bank, Winnebago, Nebr Exchange National Bank, Tampa, Fla Sentence False entries and abstraction 1 year and 1 day Embezzlement 3 years (suspended). False entries and embezzlement... 1 year and 1 day Embezzlement, misapplication, 6 months in jail and false entries. Embezzlement and false entries.. 9 years and 8 months.. .do. 7 years and 6 months.. Misapplication __. 30 days in jail False entries $300 fine. Misapplication and false entries, $2,000 fine .do do. $500 fine .do.. False entries $5,000 fine __. 5 years, on probation. Embezzlement Misapplication and false entries. $2,500 fine 2 years, paroled Embezzlement False entries and embezzlement- 15 years and $5,000 fine Misapplication and false entries.-. False entries False entries and misapplication._. .do Misapplication, abstraction, and false entries. Aider and abettor, false entries and embezzlement. False entries and embezzlement. _. Embezzlement -doAider and abettor, embezzlement _ Misapplication __. Embezzlement and false entries -do... _do_ Embezzlement and misapplication. False entries and embezzlement. __ Embezzlement _.._ Date of sentence 1926 Nov. 3 Nov. 15 Nov. 17 Do. Nov. 28 Do. Dec. 2 Dec. 3 Dec. 5 Do. Do. Dec. 8 Dec. 11 Dec. 14 Dec. 15 Dec. 22 15 months $500 fine 5 years and $5,000 fine.. 2 years and $2,000 fine... 12 months in jail 1927 Jan. 4 Jan 5 Jan. 11 Do. Jan. 25 Deferred 3 years Feb. 2 ^ years 60 days in jail. 6 months in jail... 1 year and 1 day_ _ 2 years 2 years (suspended on understanding of restitution.) 1 year in jail (suspended) and $500 fine. 5 years (on probation) 1 year and 1 day 2 years (on probation) 1 year and 1 day (on probation). Do. • Do. 2 Feb. 8 Do. Feb. 12 Do. Feb. 23 Feb. 24 Mar. 4 Mar. 8 Mar. 11 KarlEngler Samuel Halliday. George H. Coleman..... I. C.Griffith —_ M H-» Joseph J. Chilla ___ to EarlW.Tite Daniel P. Mulcahy.. R. F. Tucker B.J. Shalhoub Jonas F. Moyer. Burtis A. Laub.. F. N. Cope Elmer J. Lovel.. A, D. Johnston.. G. A. Kelley-... Howard B. Smith T. Campbell Holland.. David L. Oblinger Charles E. Munger C. L. Berger. Oliver Dodge Jacob W. Conner, jr.. Samuel Carlos Jones.. G. F. Stephenson John Olson John A. Keegler Davis E. Larson H. W. Sward Gerald A. Waite.. Cecil L. Skinner.. Ted Cronek.... W. M. Barker.. Green Sneed.__. Ora Bradley. C. A. Lauber F. Earl Joyce C. M. Smith E. T. Woodward Daniel Kruger Edison L. Wagner..„ Teller.... None Alexander County National Bank, Cairo, HI— do -— Individualbookkeeper Assistant cashier Cashier Clerk First National Bank, Jeffersonville, Ind__ National Bank of Commerce, Houston, Tex__. First National Bank, Whiting, Ind National City Bank, Cleveland, Ohio Teller do Ogden National Bank, Chicago, HI Sheffield National Bank, Sheffield, Ala Lebanon National Bank, New York, N. Y_. Assistant cashier Cashier „_ Assistant cashier. I n d i v i d u a l bookkeeper. Teller „,..„ Cashier...... . . . „ _ . . do Lehigh National Bank, Catasauqua, Pa do Utah State National Bank, Salt Lake City, Utah. First National Bank, Zeigler, Hl__.. First National Bank, Cheyenne, Wyo _. First National Bank, Talihina, Okla Teller.. Cashier do Assistant cashier Individual bookkeeper. Cashier Teller. Assistant cashier President.., Cashier Teller Cashier .do. Manager, savings department. Bookkeeper President Cashier. _ Assistant cashier Clerk... Cashier _ do do Teller First National Bank, Mullins, S. C Citizens National Bank, Waxahachie, Tex First National Bank, Germantqwn, Ohio Warren Narional Bank, Franklin, Ohio .do.. National Stock Yards National Bank, National City, HI. Farmers National Bank, Newport, Ark .do. National Bank of Athens, Athens, Ga First National Bank, Forest City, Iowa First National Bank, Seymour, Ind Live Stock National Bank, Omaha, Nebr Chowchilla National Bank, Chowchilla, CalifFirst National Bank, Springfield, Vt First National Bank, Tulsa, Okla Portland National Bank, Portland, Oreg First National Bank, Grey Eagle, Minn First National Bank, Ullin, 111. First National Bank, Willisville, 111 First National Bank, Savannah, Mo Torrington National Bank, Torrington, Conn.. Farmers National Bank, Greensburg, Kans First National Bank, Martinsville, Ind Waukegan National Bank, Waukegan, 111 McKeen National Bank, Terre Haute, Ind Misapplication and false entries Aider and abettor, misapplication and false entries. Abstraction Embezzlement _ do. do 30 days in jail and $500 fine.„ Mar. 14 $500 fine Do. 2 years. .do. 3 years 17 months Mar. Mar. Mar. Apr. .do., -doEmbezzlement, abstraction, and misapplication. Misapplication do 1 year and 1 day. 15 months 1 year and 1 day - Apr. 5 Apr. 11 Apr. 12 Embezzlement Misapplication and abstraction False entries, misapplication, and embezzlement. Misapplication Embezzlement False entries do do Misapplication and embezzlement. 9 years and $5,000 fine $300 fine. 12 months in jail and $500 fine. 2 years 15 months 30 days in jail do. .do_. 4 years. 1 year and 1 day__ do __ 10 years _ 2 years 2 years (suspended) $100 fine _ 3 years (probation) and $9,900 refund. 5 years 6 months in jail (suspended) and $250 fine. 6 months in jail 5 years ._ 30 days in jail and 2 years on probation, .do. 5 years (on probation) 18 months _. 1 year and 1 day 1 year and 1 day (suspended). 1 year and 1 day _. 3 years and $1,000 fine 8 months in jail _ 6 months in jail (on probation). Embezzlement and false entries... 18 months Embezzlement do .._ __ Misapplication and embezzlement. False entries and embezzlement... Embezzlement Abstraction __ Misapplication Embezzlement.. MisapplicationEmbezzlement -__ do Embezzlement and false entries... Embezzlement Misapplication and false entries... Defalcation. _ Misapplication and false entries... Embezzlement (Not given) Embezzlement and false entries. _. 18 19 22 1 Apr. 14 Do. Apr. 23 Apr. 26 Apr. 28 Apr. 29 May 1 May 12 May 20 Do. Do. May 23 May 24 Do. June 6 June 15 June 18 June 25 June 30 July 1 July 16 July 19 Aug. 29 Sept. 6 Sept. 14 Sept. 19 Oct. 3 Oct. 8 Do. Oct. 14 Oct. 21 Criminal cases under the national banking laws resulting in convictions during the year ended October 81, 1927—Continued to CONVICTIONS PRIOR TO OCTOBER 31,1926, ADVICE OF WHICH WAS NOT RECEIVED IN TIME TO INCLUDE IN THE REPORT FOR THAT DATE Position Name of officer and others Philip A. Smardon Edward Eiermann Abraham Finkelstein H. H. Pelhank Aaron S. Morrison W. J. McLendon, jr Paul Trudeau Clement S. Stewart Charles J. Cresanti John Martin Ramsey Edward W. Groves Paying teller Clerk Title and location of the bank Offense First National Bank, Portland, Oreg__ False entries Whitney-Central National Bank, New Orleans, Abstraction Misapplication. _ __. Public National Bank, New York, N. Y do First NationalNational Bank, Eldorado, IllTradesmen's Bank, Philadelphia, Pa._ Embezzlement and false entries . _ First National Bank, Columbus, Ga _. (Not given) _ _. National Bank of Middlebury, Middlebury, Vt_ Embezzlement Abstraction First National Bank, Tyrone, Pa _ Sentence 4 years ._ Sentenced and placed on probation 5 years. 2 years (suspended) Ledger clerk 5 years and $10,000 fine President. 2 years _ _ Teller 4 years do 2 years __ Employee Sentenced and paroled 2 Bookkeeper years in custody of Mr. Cotton. 2 years; to serve 3 months General bookkeeper.. _ Harlem office of Bowery and East River Na- Embezzlement and rest of time suspended. tional Bank, New York, N. Y. National Bank of Petersburg, Petersburg, Va . _ Embezzlement and false entries._. 1 year and 1 day.._ Savings teller Assistant cashier and First National Bank, Marietta, Ga Embezzlement .- 4 years, probational, to report every 60 days to teller. Deputy Marshal John R. Barclay. Date of sentence 1926 Apr. 14 June 17 1 Sept. 2 Sept. 20 Sept. 22 Sept. 23 Oct. 13 Oct. 14 3 a o Oct. 21 Oct. 28 Oct. 30 o E FEDERAL RESERVE BANKS Assets and liabilities of the 12 Federal reserve banks combined, as of the last weekly statement date in October, from 1918 to 1927 [In thousands of dollars] Oct. 25,1918 Oct. 31,1919 Oct. 29,1920 Oct. 26,1921 Oct. 25,1922 Oct. 31,1923 Oct. 29,1924 Oct. 28,1925 Oct. 27,1926 Oct. 26,1927 O ASSETS Gold reserves Other cash reserves Nonreserve cash Bills discounted Bills bought in open market United States Government obligations Other bills and securities Uncollected items All other assets Total _ _. — 2,045,132 53,037 0) 1, 546,164 350,311 24 856, 923 20, 571 2,138,000 67,592 2,003,320 164,718 2,786,239 150,909 1 3,085,093 126,835 469,399 257,691 408,636 27 653,483 63,931 C) 2,128, 547 394,355 301,254 2,801,297 298,375 296,371 875, 037 34, 559 742,976 34,550 1,308,749 62,316 190,946 10 540,067 55,679 3, 111, 078 3,043,826 80,067 87,768 39,152 42,300 883,800 222, 565 204,698 215,404 91,837 584,200 317 2,007 611,271 611, 709 69,047 87,490 2, 782, 549 2,823,327 110,511 130,750 52,932 52,841 631,923 328,717 307,541 324, 757 300,174 6,619 2,500 684,027 693,558 80,317 74.449 2,956,552 135,793 61,137 402,398 301, 111 510,630 620 688,277 73,497 5,270,785 5,939,344 6,341,607 5,094,915 5,065,095 5,091,267 4,897,269 4,960,423 5,017,063 5,130,015 2, 507,912 58,859 2,752, 876 254, 933 3,351,303 214,961 2,408,779 88,024 2,298, 536 37,995 2,224,865 523 1, 766,622 1,694,771 1,730, 511 1,702,999 1,683,499 78, 218 117,001 702,107 79,190 1,134 42,865 1,833,481 100,465 97,843 1,805,661 18, 754 21,307 571, 807 97, 753 164, 745 95,316 1,669,059 46,624 22, 873 466,044 103, 007 213, 824 76, 681 1, 799,931 23,659 18,180 539,773 106,277 215,398 25,346 1,895,265 40,334 23, 061 555,914 109, 726 218,369 23,210 2,162,347 28,266 27,351 566, 510 111, 953 220, 915 13, 305 2,227,212 38,670 * 31,382 617,350 116, 602 217, 837 16, 599 2,216,896 38, 546 25,689 638,465 124,392 220,310 22,254 2,351,870 19,294 32,287 646,615 131,293 228,775 5,270, 785 5, 939,344 6,341,607 5,094,915 5, 065, 095 5,091,267 4, 897,269 4,960,423 5,017,063 5,130,015 a. i LIABILITIES Federal reserve notes in circulation Federal reserve bank notes in circulation—net liability. Deposits: Member bank—reserve account Government Other Deferred availability items _ Capital paid in Surplus All other liabilities-..Total 1 - Not shown separately prior to 1923. 86,013 81,087 38,880 3 74 REPORT OF THE COMPTROLLER OF THE CURRENCY Principal assets and liabilities of the 12 Federal reserve banks combined, on the last weekly statement date in each month, from January, 1928, to October, 1927 [In millions of dollars] Liabilities Bills and securities Bate 1923 Jan. 31Feb. 2 8 Mar.28. Apr. 25.. M a y 29.. June 27.. July 2 5 Aug. 29 _. Sept. 26. Oct. 3 1 . . Nov. 28. Dec. 2 6 1924 Jan. 30. Feb. 27... Mar. 26.. Apr. 30— May 28-. June 25... July 30— Aug. 27_. Sept. 24.. Oct. 29— Nov. 26.. Dec. 31— 1925 Jan. 28Feb. 25 Mar. 25 Apr. 29 M a y 27 June 24 July'29 Aug. 26 Sept. 30 Oct. 28 Nov. 25 Dec. 30 1926 Jan. 27 Feb. 24 Mar. 31 Apr. 28 .M a y 26 June 30 July 28 Aug. 25 Sept. 29 Oct. 27 Nov. 24 Dec. 29 1927 Jan. 26Feb. 23.. Mar. 30.. Apr. 27.. M a y 25.. June 29.. July 27.Aug.31.. Sept. 28. Oct. 2 6 - Reserves Deposits United Bills States Bills bought dis- in open Government Total i counted market securities Gold Total notes in Memcirculabers' Total tion reserve 354 363 249 194 189 135 96 94 92 92 84 104 1,140 1,167 1,204 1,104 1,178 1,114 1,034 1,083 1,126 1,181 1,168 1,298 3,076 3,073 3,064 3,085 3,109 3,111 3,114 3,121 3,117 3,111 3,112 3,071 3,227 597 596 700 637 731 775 761 816 862 884 794 857 208 254 274 258 204 177 173 172 205 Federal 3,176 3,179 3,195 3,202 3,200 3,201 3,193 3,191 3,197 3,138 2,204 2,247 2,232 2,223 2,250 2,227 2,195 2,225 2,248 2,225 2,246 2,340 1,913 1,888 1,871 1,854 1,874 1,868 1,839 1,849 1,852 1,895 1,881 1,874 1,991 1,952 1,976 1,909 ]L,952 :L, 937 L,897 1,908 1,930 L, 959 1,939 1,938 lapital and surplus 327 327 327 328 328 328 328 328 522 532 482 447 430 350 294 263 260 223 221 314 272 263 202 124 87 45 24 49 92 215 281 387 121 156 257 302 333 430 505 542 575 584 582 540 915 951 942 873 850 826 825 855 928 1,024 1,087 1,249 3,143 3,123 3,123 3,120 3,118 3,156 3,155 3,115 3,069 3,044 3,046 2,937 3,223 3,223 3,214 3,271 3,260 3,202 3,156 3,132 3,134 3,047 2,023 2,022 1,983 1,926 1,891 1,844 1,762 1,741 1,730 1,767 1,845 1,862 1,928 1,927 1,912 1,945 1,936 2,035 2,087 2,082 2,120 2,162 2,148 2,220 1,991 1,986 2,007 2,005 1,997 2,108 2,165 2,150 2,196 2,218 2,203 2,311 274 434 378 400 414 455 468 580 633 590 625 750 308 317 307 267 278 242 210 202 268 329 359 363 394 365 344 349 349 325 330 332 343 325 332 377 1,130 1,041 1,028 1,054 1,034 1,021 1,126 1,257 1,250 1,326 1,501 2,939 2,894 2,867 2,851 2,838 2,811 2,791 2,762 2,760 2,783 2,746 2,704 3,030 3,008 2,993 2,982 2,959 2,937 2,888 2,866 2,893 2,861 2,822 1,684 1,729 1,709 1,684 1,671 1,634 1,598 1,616 1,685 1,695 1,732 1,835 2,172 2,208 2,119 2,135 2,138 2,140 2,153 2,183 2,210 2,227 2,220 2,309 2,265 2,270 2,184 2,187 2,202 2,210 2,201 2,237 2,268 2,297 2,291 2,357 449 540 632 514 474 515 521 571 717 632 628 711 295 304 250 199 239 249 211 255 276 308 341 379 365 331 330 389 395 385 369 321 302 300 300 317 1,119 1,185 1,226 1,114 1,119 1,158 1,106 1,150 1,298 1,242 1,271 1,410 2,801 2,767 2,767 2,797 2,816 2,835 2,851 2,841 2,807 2,953 2,917 2,920 2,954 2,975 2,980 2,999 2,978 2,937 2,954 2,958 2,944 1,667 1,679 1,656 1,662 1,673 1,697 1,671 1,693 1,716 1,731 1,774 1,857 2,217 2,203 2,215 2,203 2,195 2,229 2,205 2,204 2,249 2,217 2,202 2,264 2,272 2,262 2,323 2,242 2,243 2,260 2,261 2,258 2,330 2,281 2,262 2,346 339 340 341 342 343 343 343 344 344 345 345 345 365 398 456 444 429 477 398 401 480 402 302 280 237 242 236 216 169 185 242 301 303 305 353 318 322 376 385 473 494 511 972 985 1,049 1,006 989 1,071 2,967 2,983 3,022 3,041 3,012 3,021 3,023 2,998 3,133 3,141 3,183 3,207 3,178 3,184 3,181 3,146 3,126 3,093 1,688 1,708 1,711 1,718 1,706 1,703 1,662 1,676 1,706 1,703 2,192 2,166 2,274 2,270 2, 268 2,342 2,282 2,299 2,337 2,352 2,245 2,215 2,328 2,314 2,326 2,399 2,330 2,341 2,390 2,404 354 355 356 358 358 358 359 360 360 360 954 1,059 1,168 1,215 2,830 2,815 2,957 3,263 331 332 332 332 333 333 330 331 332 333 333 333 334 334 334 i Includes (in addition to bills discounted and bought and United States securities) municipal warrants* Federal intermediate credit bank debentures, and foreign loans on gold. REPORT OF THE COMPTROLLER OP THE CURRENCY 75 Percentage of bills discounted secured by United States Government obligations to total bills discounted and purchased by Federal reserve banks at the end of each month, year ended October 31, 1927 [In thousands of dollars] Date 1926 Nov. 30 Dec. 31 Jan. 31 Feb. 28 Mar. 31 Apr. 30 May 31 June 30 July 3 1 - . . . Aug. 31 Sept. 30 Oct. 31 _ _. 1927 „. _ .. Discounted bills secured by United States Government obligations Total holdings of discounted and purchased bills Percentage of discounted bills secured by Government obligations to total holdings of discounted and purchased bills 370,349 365,280 1,026,429 1,017,614 36.1 35.9 238,527 280,149 242,113 295,956 239,170 245,366 253,740 217,813 230,140 241,180 746,213 765,656 689,999 714, 982 686,665 654,035 614,241 585,652 687,261 753.145 32.0 36.6 35.1 41.4 34.8 37.5 41.3 37.2 33.5 32.0 FEDERAL RESERVE BANK DISCOUNT RATES The discount rates of each of the 12 Federal reserve banks in effect November 1, 1927, the date established and the previous rate with respect to all classes and maturities of eligible paper are shown in the following statement: Rates on all classes and maturities of eligible paper Federal reserve bank Boston New York.... Philadelphia. Cleveland Richmond. Atlanta Chicago St. Louis Minneapolis. . Kansas City.. Dallas San Francisco Rate in effect on Nov. 1 Date established Previous rate A u g . 5,1927 do. 3 Sept. 8,1927 3 _ Aug. 6,1927 16,1927 Aug. 1XA Aug. 13,1927 v/2 Sept. 7,1927 Aug. 4,1927 VA Sept. 13,1927 3> July 29,1927 Aug. 12,1927 Sept. 10,1927 DISCOUNT RATES PREVAILING I N FEDERAL RESERVE BANK AND BRANCH CITIES In the table following, prepared by the Federal Reserve Board and published in the Federal Reserve Bulletin for November, 1927, the rates shown are those at which the bulk of the loans of each class were made by representative banks during the week ending with the 15th of the month. Rates reported by about 200 banks with loans exceeding $7,500,000,000: Federal reserve bank cities Month Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco PRIME COMMERCIAL LOANS 1926—October—. November. December. 1927—January— February-. March April May June July August September October... 6 6 5 -6 5 -6 5 5 5 5 5 -6 -6 -6 -6 -6 5 5 5 5 5 5 -6 -6 -6 -6 -6 -6 5 -6 5 -6 4^-6 5 -6 4^-5 5 5 5 5 5 -5 -5 -6 -6 -6 5 5 5 5 5 5 5 -6 -6 -6 -6 -6 -6 -6 4 -6 LOANS SECURED BY PRIME STOCK EXCHANGE COLLATERAL 5 -6 1927—April May June July August September October.._ 5 -6 5 -6 5 5 5 5 5 5 5 -6 -6 -6 -6 -6 -6 -6 4M-5 4^5 LOANS SECURED BY WAREHOUSE RECEIPTS 1927—April May,.._ June July August.— September October... 5 -6 5 -5H 5 -6 5 -6 5 ^6 6 5 -6 5 -6 6 6 5 -6 5 5 5 5 —6 -6 -6 -6 5 5 -6 5 -6 5 -6 5 -6 5 -6 -6 -6 -6 -6 5 5 5 5 5 5 5 -7 -6 -7 -6 -6 -6 -6 INTERBANK LOANS 5 5 5 5 5 5 5 1927—April May June July August September. October. _. -6 -6 -6 -6 -6 -6 -6 5 5 5 5 5 5 -6 5 -5H 5 5 5 5 5 5 5 5 5 5 5 -6 -6 -6 -6 -6 -6 -6 Federal reserve branch cities Loans secured by prime stockexchange collateral Prime commercial loans Loans secured by warehouse receipts Interbank loans City September August Buffalo Cincinnati Pittsburgh Baltimore Birmingham Jacksonville Nashville New Orleans Detroit Little Rock . _ Louisville Helena Denver Oklahoma City El Paso Houston San Antonio Los Angeles Portland Salt Lake City Seattle . . . Spokane 5 -6 5*4-6 5 %i 5 5 5 5 5 5 5 -6 5 -6 5 -€ 8 5 -6 5 -6 . H -6 -6 6 -6 -6 -6 -6 8 4 -6 5 -6 5 -6 6 ^8 5 -6 4^-6 6 6 6 6 6 -7 5 4 October August 5 -6 5 -6 September 5 -6 2 5 -6 5 -6 6 5 -6 5 -6 8 6 5 -6 434-6 5 -6 5 -6 6 6 6 6 6 4 -7 # 6 6 6 6 2 5 4 -6 2 5 -8 6 5 -6 6 -8 6 -7 6 6 6 -7 6 -6 -53^ -6 -6 6 5 -8 6 5' 2 -6 6 -7 5 -6 8 5 -6 6 -7 5 -6 8 6 5 5 5 5 2 5 6 5 6 6 -6 -8 -6 -8 -7 6 6 6 -7 6 October 5 -6 5 -6 434-6 6 5 -8 6 534-6 434-6 6-7 5 -6 8 71 5 -6 6 -8 6 -7 6 6 6 -7 6 August 6 6 -7 6 6 -8 5^-6 5 -6 5 -6 6 -7 6 6 -8 534-8 6 5 -6 7 -8 5 -7 7 -8 7 6 -7 7 6 -7 6 -7 September 6 5 -7 6 534-6 6 6 -8 534-6 5 -6 5 -6 6 -7 6 6 -8 ?$* 5 -7 6 -8 6 -7 6 -7 7 6 -7 7 October August 6 6 -7 6 6 6 6 -8 5 -6 534-6 5 -6 6 53^-6 6 -7 6 6 -8 53^-7 6 6 -&y2 57 -8 -6 6 -8 6 -7 6 -7 7 6 -7 7 September 5 5 5*1i 5 -6 5^-6 5 6 -8 6 6 6 5 434-5 6 6 6 6 6 2 5 -6 5 -6 5 -6 6 53^-6 5 -5H 5 -6 5 -6 5 6 -8 6 -63^ 6 6 5 5 -6 6 6 6 6 -Wo October 5 5 -hV> /2 5 -6 5 -6 6 5 -6 5 -5x4 534-6 5 6 -8 6 2 6 5 5 -6 6 6 6 5 -6H 6 78 EEPORT OF THE COMPTKOLLEB, OF THE CURRENCY RATES FOR MONEY IN NEW YORK The range of rates for various classes of paper in the New York money market in the year ended October 31, 1927, together with information in relation to the range of rates in New York since 1918, is shown in the following statements, furnished by the Financial and Commercial Chronicle. The low point in the rate of call loans was 33^ per cent and the high point was 5 per cent. The range during the month of October was from 3 Y2 to 4 Y2 per cent. The low point of time loans (60 days) was 3 % per cent, and during October the range was from 4 to 4}4 per cent. Choice commercial paper in the year ranged from 3 % to 4J^ per cent, and in October was 4 per cent. The rates for sterling bills, sight and cable transfers, ranged from $4.84 in November, 1926, to $4.87Ji in October, 1927. The high point in sight bills was $4.86% in October and the low point $4.84 in November, 1926. Cable transfers likewise were the highest at $4.87yi in October, and the low point was $4.84J^ in November last year. Rates for money in New York 1926 November 1927 December Call loans, stock exchange: Range Time loans: 60 days 90 days 4 months 5 months 6 months. Commercial paper: Choice, 4 to 6 months. Good, 4 to 6 months January February March April September October 4 -5 1927—Continued May Call loans, stock exchange: Range.. Time loans: 60 days 90 days 4 months 5 months 6 months , Commercial paper: Choice, 4 to 6 months. Good, 4 to 6 months... June July August REPORT OF THE COMPTROLLER OF THE CURRENCY 79 Rates for sterling bills [ R a n g e for m o n t h ] 60-day * Sight 192G $4.84 -$4.84H 4.84^-4.85^ November.. December.. January February. _. March April........ May.. June July August..... September.. October 1927 1 60-day bankers* bills no longer quoted. 4.85 4.84& % 4.85M 4.85 - 4.85& 4.84&-4.85H 485^g 4 8 " " Cable transfers $4.8 . . . 4.84if- 4.! Comparison of the range of rates for call loans, 60-day time loans, and choice commercial paper loans in New York annually for 1918 to 1927 is shown in the statement following: 1 Range of rates for money in New York annually, 1918 to 1927 1918 1921 1920 1919 1922 Range Range Range Range Range Range Range Range Range Range High Low for DeHigh Low for DeHigh Low for DeHigh Low for Defor for High Low forDe for for for cember January January cember January cember cember January cember January Call loans. Time loans (60 days) C o m m e r c i a l paper (choice) 5 -6 6 2 5 6 30 3%-6 5 —5J^ 7 2 534-25 5 6 -7 5 -5% 5 5^-6 1923 6 6-20 7- 8 25 6 8 5 6 -7 7 7 -7M 6 7^-8 6 -8 6 -7H 9 734-8 8 1925 1924 5 5 2 434-6 5 -h\i 3 -6 5 -534 3^-4 6 f% 1927 1926 Range Range Range Range Range Range Range Range Range Range High Low for DeHigh Low for DeHigh Low for DeHigh Low for Defor for for for for High Low for Occember January tober cember January January cember January cember January Call loans. Time loans (60 days) C o m m e r c i a l paper (choice) 43^5 2 6 I 434-6 4^-5 4^-5 4^-5 6 5 2 234-5 2 2 -Z% 5 3 2 -5H 6 5 2 4 -6 434-5 3H 4 -AYi 6 3 434-6 4 -5 4^-4% 4 -4H 5 33^ 4 REPORT OF THE COMPTROLLER OF THE CURRENCY 81 NEW YORK CLEARING HOUSE The figures compiled and furnished by Mr. Clarence E. Bacon, manager, New York Clearing House Association, for the year ended September 30, 1927, disclose there were 31 banks comprising the New York Clearing House Association, with capital of $391,400,000. Clearings amounted to $307,158,631,043, which was an increase of $13,715,^g4,128 in the year, and balances were reported aggregating $34,669,579,273, as compared with $32,197,090,792 on September 30, 1926. The average daily clearings were $1,013,724,855, and the average daily balance $114,421,054. The percentage of balances to clearings was 11.28. CLEARING-HOUSE ASSOCIATIONS I N THE 12 FEDERAL RESERVE BANK CITIES AND ELSEWHERE Clearing-house transactions in the 12 Federal reserve cities in the year ended September 30, 1927, aggregated $439,716,841,000, and exceeded by $12,573,422,000 the amount reported in the previous year. The ratio of clearings by banks in the 12 Federal reserve bank cities was 80.84 per cent of the total clearings of all banks in 230 reporting cities in the United States, in comparison with a ratio of 79.61 per cent last year. Clearings of banks in 24 other principal cities, each of which had clearings in excess of $1,000,000,000, aggregated $70,527,825,000, and showed a decrease of $715,182,000 in clearings of the same cities since the year ended September 30, 1926. The total clearings of the 230 cities reporting to the New York Clearing House Association in the year amounted to $543,955,530,000, as compared with $533,077,499,000 reported by these cities a year ago. Tables showing the following information are published in the appendix of this report: Comparative statement of the New York Clearing House, annually since 1854; comparative statement of the transactions of the New York Clearing House in years ended September 30, 1927 and 1926; exchanges, balances, and percentages of balances to exchanges, etc., by the New York Clearing House annually since 1893; comparative statement of the exchanges of clearing houses of the United States by cities, for years ended September 30, 1927 and 1926, and comparative statement of transactions of clearing-house associations in the 12 Federal reserve bank cities and elsewhere, in years ended September 30, 1927 and 1926. BANKS OTHER THAN NATIONAL Through the cooperation and courtesy of officials of banking departments of the various States, Alaska, and insular possessions, the comptroller is enabled to present in this report, as required by section 333, Eevised Statutes, statistics in relation to each class of reporting banks other than national, Officials of State banking departments and number of each class of banks under their supervision in June, 1987, from which reports of condition 00 to were received Banks States, etc. Names of officials "Rank" nnmTTiispinpp.r John G. Smith do Arthur E. Dole nrvmTm'ssifYnpf of h a n k i n g Robert C. Clark Roy A. Hovey Commissioner of banks George H. Newhall... St.fitft h a n k nnm mission AT J. B. Byrne do Maine New Hampshire Vermont Massachusetts Rhode Island Connecticut Total New England States New York New Jersey Pennsylvania Delaware Maryland . . . District of Columbia _ Total Eastern States Virginia . . West Virginia North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee Total Southern States _, _ State (commercial) Titles .,. Frank H. Warder RiippriTitPTifiPTit, b a n k i n g dopartTTient Commissioner, department of banking and insuranceE dward Maxson Secretary, department of banking. _ Peter G. Cameron Harold W. Horsey - State bank commissioner ._ George W. Page do Myron E. Bristow Chief examiner of banks -.f]r>TnTpissir>ripr of b a n k i n g H A Abbott John Mitchell Chief State bank examiner Albert S Fant Ptfttf- b p n k p.TarninPT* A. B. Mobley _. Superintendent of banks Ernest Amos Comptroller, State of Florida _ C. E. Thomas Superintendent of banks do J S Love J. S. Brock State bank commissioner Commissioner, department of banking . . . James Onmmisfdorip.r Sta^A b a n k i n g dftpaxt/mp/nt WalterShaw E Taylor C. E. Marvin. Commissioner, department of banking and securities.. S. S. McConnell Superintendent of banks.— Stock savings Mutual savings Private Total 52 15 40 93 10 92 35 53 19 196 11 75 18 87 68 59 289 24 185 3 302 389 18 712 255 36 294 9 116 130 204 425 29 29 7 149 27 9 2 15 63 9 43 23 597 277 772 40 160 30 710 824 25 202 115 1,876 and insurance .. Loan and trust companies 3 330 217 463 215 388 194 251 312 200 767 374 448 416 4,575 1 1 1 68 3 1 10 2 330 217 463 216 388 265 251 312 200 777 376 448 416 68 3 13 4,659 3 S Ohio Indiana Illinois Michigan.. . . . . _ . Wisconsin Minnesota Iowa . Missouri .- „.. E. H. Blair. Tinthftf F Rymons Oscar Nelson R. E. Reichert C. F. Schwenker A. J. Veigel L. A. Andrew S. L. Cantley Superintendent of banks • Bank commissioner Auditor of public accounts . Commissioner, State banking department CoTmrnssionp.r of ban king Commissioner of banks Snpp.rintp.ndp/nt, dApa.rtmp.nt of banking Commissioner of finance. _ I ... .. Total Middle Western States.... North Dakota South Dakota Nebraska Kansas Montana Wyoming Colorado New Mexico Oklahoma Gilbert Semingson F. R. Smith__ Clarence G. Bliss _. Roy L. Bone. Jay G. Larson Stanley A. Brown Grant McFerson T^awrpncp. A. Tammp, 0. B. Mothersead State bank examiner Superintendent of banks Secretary, bureau of banking Bank commissioner Superintendent of banks H. C.Johnson A. A Schramm _ Will C Wood E. W. Porter Seth Pixton True Veneill __ A. T. Hammons Supervisor of banking . St.at.A b a n k fiTaminpr Rf.atft b a n k p - o m m i s s i o n A r Rtat-fi b a n k p/yanninp.r . ...... .. _ . _.. Total Western States Washington . Oregon California Idaho Utah Nevada Arizona . __ _ _ do Commissioner, department of finance State bank commissioner State bank p.xaminp.r . - . r........ Superintendent of banks Total Pacific States Alaska.. The Territory of Hawaii _ W. G. Smith Secretary, Territorial banking board Governor of Hawaii ._ 653 527 1,353 583 797 894 353 1,192 3 5 176 22 13 18 13 111 1 732 6,352 353 737 386 306 857 898 134 57 159 30 346 3 5 18 4 7 6 21 13 39 239 148 215 92 80 22 31 5 5 34 5 54 4 2 3 1 827 50 63 13 10 11 153 1 727 832 1 353 662 817 919 1,151 1,304 302 7,765 153 7 2 1 1 389 319 872 923 136 58 173 30 346 ,19 3,246 8 15 3,173 71 124 15 5 249 158 304 92 87 25 31 1 6 946 13 21 Philippines.- Insular treasurer 12 12 Porto Rico Treasurer 15 15 Total Alaska and insular possessions Total United States and insular possessions.. .,.. »Not under State supervision. 50 11 15,690 1,647 61 843 618 467 19,265 84 REPORT OF THE COMPTROLLER OF THE CURRENCY STATE (COMMERCIAL) BANKS The total resources of 15,690 State (commercial) banks aggregated $16,564,988,000 on June 30, 1927, and showed a decrease of $14,668,000 from the resources of 16,493 reporting banks on June 30, 1926. Loans and discounts were $9,534,915,000, a decrease in the year of $168,333,000, while investments of $3,391,212,000 were greater by $170,812,000. Banking house, furniture and fixtures increased in value $7,864,000, their reported value in the current year amounting to $462,665,000. Other real estate owned likewise increased from $152,115,000 to $152,416,000. Due from banks, $1,101,279,000, showed an increase during the year of $55,574,000; lawful reserve, $698,063,000, a reduction of $79,367,000; checks and other cash items, $282,338,000, an increase of $20,791,000; and exchanges for clearing house, $121,967,000, a decrease of $39,658, 000. Cash on hand, $413,739,000, and other resources, $377,102,000, showed increases of $8,367,000 and $15,176,000, respectively. The capital stock of these associations was $1,078,087,000, compared with $1,092,424,000 the year previous, or a decrease of $14,337,000. Surplus, $735,949,000, and undivided profits, $270,096,000, were increased in the 12-month period $39,048,000 and $15,329,000, respectively. Total deposits aggregated $13,751,996,000. Included in deposits, are amount due to banks, which increased $48,271,000, and certified and cashiers' checks outstanding, which likewise increased in amount $97,587,000. Individual deposits, including postal savings, were reduced $221,485,000, and United States deposits, $5,485,000, were less by $5,214,000 than this item a year ago. Notes and bills rediscounted, $53,360,000, and bills payable, $214,535,000, showed reductions in the year of $15,178,000 and $33,131,000, "respectively. Other liabilities were increased by $74,442,000. A summary of the resources and liabilities of State (commercial) banks, on the date indicated, follows: Summary of reports of condition of 15,690 State {commercial) banks in the United States at the close of business June 80, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate) 247,380 On demand (not secured by collateral) 65, 626 On time (secured by collateral other than real estate) 292, 719 On time (not secured by collateral) 335, 225 Secured by farm land 48, 737 Secured by other real estate 1, 036, 418 Not classified . 7, 508, 810 Total 9, 534, 915 Overdrafts 29,292 REPORT OF THE COMPTROLLER OF THE CURRENCY 85 Investments (including premiums on bonds): United States Government securities 529, 731 State, county, and municipal bonds 286, 401 Railroad bonds 65, 810 Bonds of other public service corporations (including street and interurban-railway bonds) 60, 945 Other bonds, stocks, warrants, etc 2, 448, 325 Total 3,391,212 Banking house (including furniture and fixtures) 462, 665 Other real estate owned 152, 416 Due from banks 1, 101, 279 Lawful reserve with Federal reserve bank or other reserve agents.. 698. 063 Checks and other cash items 282, 338 Exchanges for clearing house 121, 967 Cash on hand: Gold coin „ 10, 299 Silver coin 19,317 Paper currency 142, 140 Nickels and cents 643 Cash not classified 241, 340 Total 413,739 Other resources 377,102 Total resources 16, 564, 988 LIABILITIES Capital stock paid in 1,078,087 Surplus 735,949 Undivided profits (less expenses and taxes paid) 270, 096 Due to all banks 614, 807 Certified checks and cashiers' checks 195, 514 Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check 5, 743, 936 Demand certificates of deposit 257, 697 State, county, or other municipal deposits 412, 379 Dividends unpaid 12, 886 Other demand deposits 69, 677 Time deposits— Time certificates of deposit 1, 468, 001 State, county, or other municipal deposits 4, 471 Other time deposits 4, 623, 053 Postal savings deposits 15, 480 Not classified 329, 010 Total 12, 936, 590 United States deposits (exclusive of postal savings) 5, 085 Notes and bills rediscounted 53, 360 Bills payable (including certificates of deposit representing money borrowed) 214, 535 Other liabilities 460, 965 Total liabilities 16,564,988 LOAN AND TRUST COMPANIES The returns from 1,647 loan and trust companies June 30, 1927, with total resources of $13,994,756,000, showed a decrease of nine companies but an increase in resources of $1,789,560,000 since June 30, 1926. Loans and discounts, $7,479,570,000, showed an increase of $725,483,000 in the year; overdrafts increased $252,000; and investments in bonds and securities, $3,498,845,000, were increased $692,065,000. 86 REPORT OF THE COMPTROLLER OF THE CURRENCY Banking house, furniture and fixtures, with an estimated value of $294,212,000, were $28,393,000 more than in the previous year. Other real estate owned likewise increased from $47,607,000 to $85,985,000. Amounts due from correspondent banks showed an increase of $57,442,000, lawful reserve with the Federal reserve banks and other reserve agents an increase of $87,731,000, checks and other cash items an increase of $88,818,000, and exchanges for clearing house an increase of $1,137,000. Cash on hand, $171,852,000, was increased in the year $1,310,000. The paid-in capital stock of these companies aggregated $745,647,000 and showed an increase of $72,688,000. Surplus, $932,337,000, and undivided profits, $195,617,000, exceeded the amounts reported a year ago by $118,087,000 and $15,662,000, respectively. Liability for amounts due all banks was reduced $48,963,000 since the returns of last year. Individual deposits, $10,094,485,000, showed an increase of $1,193,557,000; certified checks and cashiers' checks outstanding were more by $333,452,000; and United States deposits of $48,534,000 were greater in the sum of $15,510,000. Notes and bills rediscounted exceeded last year's figures by $8,904,000, while bills payable showed a reduction of $127,000. Other liabilities were increased in the sum of $80,790,000. The resources and liabilities of loan and trust companies, June 30, 1927, are shown in the following statement: Summary of reports of condition of 1,647 loan and trust companies in the United States at the close of business June 80, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate) . 837, 559 On demand (not secured by collateral) „ 198, 428 On time (secured by collateral other than real estate) 356,851 On time (not secured by collateral) 882, 505 Secured by farm land 15, 686 Secured by other real estate «. 1, 016, 176 Not classified „„___„ _ ... 4, 172, 365 Total . . 7, 479, 570 Overdrafts . . 3, 690 Investments (including premiums on bonds): United States Government securities 371, 032 State, county, and municipal bonds . ___-_ 211, 205 Railroad bonds . . 270, 175 Bonds of other public service corporations (including street and interurban railway bonds) . 243, 741 Other bonds, stocks, warrants, etc , 2, 402, 692 Total Banking house (including furniture and fixtures) Other real estate owned Due from banks Lawful reserve with Federal reserve bank or other reserve agents Checks and other cash items Exchanges for clearing house 3,498,845 294, 212 85, 985 520, 555 818, 225 572, 869 46, 845 EEPORT OP THE COMPTROLLER OF THE CURRENCY Cash on hand: Gold coin Silver coin . Paper currency Nickels and cents Cash not classified--.Total Other resources 87 4, 563 4, 182 113, 502 1, 172 48, 433 . _-_- 171,852 502, 108 Total resources 13, 994, 756 LIABILITIES Capital stock paid in 745, 647 Surplus . 932,337 Undivided profits (less expenses and taxes paid) 195, 617 Due to all banks .805, 334 Certified checks and cashiers' checks 384, 632 Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check 5, 439, 858 Demand certificates of deposit 141, 806 State, county, or other municipal deposits 116, 005 Dividends unpaid 20, 304 Other demand deposits 437, 197 Time deposits— Time certificates of deposit 197, 164 State, county, or other municipal deposits 7, 523 Other time deposits 3, 169, 573 Postal-savings deposits 17, 181 Not classified 547, 874 Total 10,094,485 United States deposits (exclusive of postal savings) 48, 534 Notes and bills rediscounted 52, 951 Bills payable (including certificates of deposit representing money borrowed) ___ 123,892 Other liabilities . .._ 611, 327 Total liabilities 13, 994, 756 PRINCIPAL ITEMS OF RESOURCES AND LIABILITIES OF LOAN AND TRUST COMPANIES I N J U N E OF EACH YEAR, 1914 TO 1927 The principal items of resources and liabilities of loan and trust companies for years ended June 30? 1914 to 1927, inclusive, are shown in the statement following: [In millions of dollars] Year Number 1914 _ 1915 _ 1916 _ 1917. 1918 _ 1919_ 1920 _ 1921. 192219231924 _ 1925. 19261927. 1,564 1,664 L.606 L,608 1,669 1,377 :1,408 L,474 :1,550 t, 643 1,664 L680 1,656 ]1,647 * Including overdrafts. 71284°—28 7 Loans 3 2,905.7 3,048. 6 3,704. 3 4,311. 7 4,403. 8 4,091. 0 4,601. 5 4,277.1 4,345. 4 5,064.1 5,299. 0 6,126.6 6, 757. 5 75 483. 3 Investments 1,261.3 1,349. 6 1,605. 4 1,789. 7 2,115. 6 2,069. 9 1,902.1 1,942. 6 2,311.1 2, 423. 8 2, 748. 4 2,801. 3 2,806. 8 3,498. 8 Capital 462.2 476.8 475.8 505. 5" 525.2 450.4 475.7 515.5 532.3 591.4 621.0 643.4 673.0 745.6 Surplus and profits 564.4 577.4 605.5 641. 8 646. 9 588.6 612.1 649.5 680.2 739.9 813.2 882.2 994.2 1,128.0 Total deposits 4, 289.1 4,604. 0 5, 732. 4 6.413.1 6,493. 3 6,157. 2 6, 518. 0 6,175.0 6,861. 2 6, 831. 0 7,785. 3 9,465. 6 9,839. 4 11,333.0 Aggregate resources 5,489. 5 5, 873.1 7,028. 2 7,899. 8 8,317.4 7,959.9 8,320.0 8,181.0 8,533.8 9,499.2 10,323.8 11,565. 6 12,205.2 13,994.8 88 REPORT OF THE COMPTROLLER OF THE CURRENCY STOCK SAVINGS BANKS The returns received from 843 stock savings banks as of June 30, 1927, showed total resources of $1,815,538,000, the figures representing a decrease of 61 in the number of banks, and a decrease of $380,889,000 in total resources from the returns received as of June 30, 1926. Loans and discounts, $1,144,709,000, were reduced in the sum of $265,159,000; investments, $419,803,000, a reduction of $84,295,000; and banking house, furniture and fixtures, $45,857,000, showed a decrease in estimated value of $6,445,000 since June, 1926. Amounts due from correspondent banks and bankers, and checks and other cash items were increased $12,167,000 and $1,022,000, respectively. Cash on hand, $23,692,000, showed a decrease of $3,224,000, and other resources a decrease of $7,212,000. Capital stock paid in, $69,144,000, was reduced $16,009,000 since June of 1926. Surplus and undivided profits also showed reductions of $1,279,000 and $2,187,000, respectively. The total deposit liability of these associations aggregated $1,674,150,000, and was $356,925,000 less than the year previous. The individual deposits, $1,661,803,000, showed a decline of $359,811,000, while amounts due to all banks were increased $2,375,000. Notes and bills rediscounted and bills payable were reduced $510,000 and $1,105,000, respectively. A summary of the resources and liabilities of these associations on the date indicated follows: Summary of reports of condition of 84-3 stock savings banks in the United States at the close of business June SO, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate) On demand (not secured by collateral) On time (secured by collateral other than real estate) _ On time (not secured by collateral) Secured by farm land Secured by other real estate Not classified . Total Overdrafts Investments (including premiums on bonds): United States Government securities State, county, and municipal bonds Railroad bonds Bonds of other public service corporations (including street and interurban railway bonds) Other bonds, stocks, warrants, etc 9,905 1,085 4, 668 12, 615 3, 367 757, 950 355, 119 1, 144, 709 263 108, 421 22, 824 13,968 3, 042 271, 548 _ m Total Banking house (including furniture and fixtures) Other real estate owned Duefrom banks Lawful reserve with Federal reserve bank or other reserve agents Checks and other cash items Exchanges for clearing house _ 419, 803 45, 857 24, 326 130,824 7, 408 13, 067 3, 167 REPORT OF THE COMPTROLLER OF THE CURRENCY Cash on hand: Gold coin Silver coin Paper currency Nickels and cents Cash not classified „ Total Other resources 89 1, 999 9 1, 279 74 20, 331 23,692 2, 422 Total resources 1, 815, 538 LIABILITIES Capital stock paid in 69, 144 Surplus 46,554 Undivided profits (less expenses and taxes paid) 18, 030 Due to all banks 11,334 Certified checks and cashiers' checks 451 Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check 122, 744 Demand certificates of deposit 3, 664 State, county, or other municipal deposits . 79, 160 Dividends unpaid 66 Other demand deposits 166 Time deposits— Time certificates of deposit 116, 642 State, county, or other municipal deposits 201 Other time deposits 1,336,393 Postal savings deposits 2, 757 Not classified 10 Total . 1, 661, 803 United States deposits (exclusive of postal savings) •_ 562 Notes and bills rediscounted 1, 401 Bills payable (including certificates of deposit representing money borrowed) 2,270 Other liabilities.. 3, 989 Total liabilities 1,815, 538 MUTUAL SAVINGS BANKS The aggregate resources of 618 mutual sayings banks, June 30, 1927, amounted to $9,011,185,000, in comparison with resources of 620 banks on June 30, 1926, amounting to $8,422,307,000, the increase in resources for the year totaling $588,878,000. Loans and discounts of these banks for the current year, $5,064,595,000, and investments, $3,523,350,000, showed increases of $441,001,000 and $117,246,000, respectively, over these items for the year previous. Banking house, furniture and fixtures were increased $10,894,000, and other real estate owned showed an increase of $1,890,000. Balances due from correspondent banks and bankers aggregated $224,741,000, showing an increase of $13,483,000; checks and other cash items were less by $270,000, and exchanges for clearing house were reduced $190,000. Cash on hand, $31,212,000, exceeded last year's figures by $1,612,000. Other resources also showed an increase of $3,212,000. All liability items of these banks showed increases during the year, the largest increase, $499,595,000 appearing in individual deposits, which amounted to $8,077,099,000. 90 EEPORT OF THE COMPTROLLER OF THE CURRENCY Surplus funds and undivided profits showed increases of $79,953,000 and $8,457,000, respectively. Bills payable were $568,000, as compared with $345,000 a year ago. A summary of the resources and. liabilities of these banks follows: Summary of reports of condition of 618 mutual savings banks in the United States at the close of business June 30, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate) 21, 393 On time (secured by collateral other than real estate) _ 11, 118 On time (not secured by collateral) 8, 971 Secured by farm land 441 Secured by other real estate 1, 897, 472 Not classified___ 3, 125, 200 Total 5, 064, 595 Investments (including premiums on bonds): United States Government securities 220, 841 State, county, and municipal bonds 458, 015 Railroad bonds 652, 014 Bonds of other public service corporations (including street and interurban railway bonds) 374, 937 Other bonds, stocks, warrants, etc , 1, 817, 543 Total Banking house (including furniture and fixtures) Other real estate owned Due from banks Checks and other cash items Exchanges for clearing house Gash on hand: Gold coin Silver coin Paper currency Nickels and cents Cash not classified Total Other resources 3, 523, 350 93, 330 12, 668 224, 741 1, 094 209 1, 166 122 4, 031 26 25, 867 31,212 59, 986 Total resources 9, 011, 185 LIABILITIES Surplus 782,927 Undivided profits (less expenses and taxes paid) 137, 332 Due to all banks : 108 Certified checks and cashiers' checks 44 Individual deposits (including postal savings): Demand, deposits— Individual deposits subj ect to check 7, 909 Demand certificates of deposit 470 Dividends unpaid 610 Time deposits— Time certificates of deposit 14, 826 State, county, or other municipal deposits 114 Other time deposits 8,040,042 Not classified 13, 128 Total 8, 077, 099 Bills payable (including certificates of deposit representing money borrowed) 568 Other liabilities 13, 107 Total liabilities 9, 011, 185 REPORT OF THE COMPTROLLER OF THE CURRENCY 91 DEPOSITORS AND DEPOSITS IN MUTUAL AND STOCK SAVINGS BANKS The combined total individual deposits in 1,461 mutual and stock savings banks on June 30,1927, were $9,738,902,000, and exceeded by $139,784,000 the amount reported by 1,524 associations on June 30, 1926. The number of depositors was 14,814,271, or 347,528 fewer than the year previous. The average amount due each depositor in mutual savings banks was $712.43, compared with $685.51 in June of last year, and in stock savings banks $477.96, as against $492.13 last year. Statements showing information relative to the number of mutual and stock savings banks in each State, the number of depositors, the amount of deposits, the average amount due each depositor, and the per cent rates of interest paid by banks in each State, June 30, 1926 and 1927, with similar information for each year 1914 to 1927, follow: CO Number of mutual savings banks, number of depositors, individual deposits and average deposit account, by States, June SO, 1926 and 1927 1927 1926 States Number Depositors of banks Maine Vermont__l- _ Massachusetts Rhode Island Connecticut— ._. . .... _ . Total New England States New York New Jersey Pennsylvania. Delaware Maryland.^-. , _ . ... Total Eastern States. __ Ohio Indiana Wisconsin Total Middle "Western States Washington. California Total Pacific States ._ Total United States . Deposits Average due each depositor 37 53 19 196 12 76 231,457 323,983 127,943 2,878,058 215,462 846,608 $110,228,000 U84,835,000 88,484,000 1,701,852,000 144,526,000 533,533,000 $476.24 570.51 691.59 591.32 670. 77 630.20 393 4,623,511 2,763,458,000 597. 70 148 27 9 2 16 4,635,134 441,074 569,562 46,426 312,486 3,738,426,000 229,802,000 375,837,000 22,590,000 158,292,000 806.54 521. 01 659. 87 486. 58 506.56 202 6,004,682 4,524,947,000 753. 57 3 5 7 5 *104,108 33,374 17,205 130,708 82,310,000 20,438,000 6,393,000 61,027,000 790.62 612.39 371.58 466.90 20 285,395 170,168,000 596.25 4 1 69,958 70,340 42,072,000 76,859,000 601.39 1,092.68 5 140,298 118,931,000 847.70 620 11,053,886 7,577,504,000 685.51 i Includes savings of 12 trust companies and 11 guaranty savings banks. > Estimated. to Per cent rate of in- Number Depositors terest paid of banks 4.00 3.79 4.50 4.64 4.00 4.52 4.17 3.96 3.98 4.00 4.00 4.00 4.50 3.50 4.25 5.00 4.00 Deposits Average due each depositor 35 53 19 196 11 75 229,636 i 341,036 *133,481 2,910,872 222,693 872, 285 $110,541,000 3 194,564, 000 92,314,000 1,808, 760,000 154, 569,000 568,993,000 $481.58 570. 51 691. 59 621.38 694.09 652.30 389 4,709,903 2,929, 741,000 622.04 149 27 9 2 15 4,777, 761 a 454, 239 574,177 46,921 315,850 4, 036, 074,000 242,460, 000 364,824,000 23,404,000 170,633,000 844.76 533. 77 635. 39 498. 80 640.23 202 6,168, 948 4,837,395,000 784.15 3 5 7 •6 a 112,190 8 35,807 a 18,623 141.709 88, 700, 000 21,928, 000 6, 920, 000 66, 673, 000 790.62 612. 39 371.58 470.49 21 308, 329 184, 221, 000 597.48 616. 71 1,076.16 150,218 48, 210, 000 777fi32 ftftft ' 125,742,000 618~ 11,337,398 8,077,099,000 712.43 5 1 6 78,173 I 72,045 Per cent rate of interest paid 837.06 8 Includes savings of 11 trust companies and 11 guaranty savings banks, * Includes returns of 1 stock savings bank. 4.00 3.79 4.50 4.64 4.22 4.66 3 CL O 4.17 3.93 3.66 4.00 4.00 4.00 4.50 3.50 4.25 g F 3 w 5.00 4.00 d Number of stock savings banks, number of depositors, individual deposits, and average deposit account, by States, June 80, 1926 and 1927 1927 1926 States Number Depositors or banks New Jersey Pennsylvania District of Columbia _ „_. Total Eastern States - Average due each depositor Per cent rate of interest paid 4.00 3.00 3.27 1 1 23 42,467 4,103 116,443 $24,078,000 2,220,000 34,477,000 $566.98 541.07 296.08 Number of banks Depositors Deposits Average due each depositor 1 1 23 i 41, 630 36,583 126,870 $25,253. 000 39,029; 000 36,118, 000 $606.61 1,066.86 284.69 Per cent rate of interest paid 25 163,013 60,775,000 372.82 25 205, 083 100,400, 000 489. 56 3 6,361 2,158,000 339. 25 4.00 3 1 6, 726 1,816, 000 270.00 4.00 Michigan Minnesota Iowa 4 2 782 19,868 1 16,907 1,327,000 16,079,000 11,926,000 375,305,000 809.29 705. 39 282.82 3.50 4.25 4.00 4 1 732 i 21, 111 4,093 i 1,282,349 17,085, 000 1,894, 000 362,674, 000 809.29 462. 74 282.82 3.50 4.25 4.00 788 1,363, 775 403,310,000 295. 73 737 1,307, 553 381,653, 000 291.88 Nebraska.. 15 15,515 4,325, 000 278. 76 4.00 15 Oregon California Utah Nevada Arizona 5 61 3 1 3 9,858 3,218, 000 2,475,720 21,516,959, 000 55,228 20,647, 000 3,650 4,223,000 14, 793 5,999,000 326.44 612. 73 373.85 1,156. 99 405. 53 3.40 4.00 4.00 4.00 3.84 5 54 3 1 „ ____ Total Middle Western States . Total Pacific States __ _-.___ . Total United States 16,112 4,586,000 | 3,132, 000 1 10,189 U,867,499 21,144,281, 000 21,602,000 59, 966 4,333,000 1 3, 745 284.63 307. 39 612. 73 360.24 1,157.01 73 2,559,249 1,551,046,000 606. 06 63 1,941, 399 1,173,348,000 604. 38 904 4,107,913 2,021,614, 000 492.13 843 3, 476, 873 1,661,803,000 477. 96 I 4.00 4.00 3.44 Florida. _. _ _ _ . . __ Deposits O O a Too 3.45 4.00 4.00 4.00 3 d 1 Estimated. 2 Includes savings of departmental banks. 3 o CO 00 94 REPORT OF THE COMPTROLLER OF THE CURRENCY Number of savings banks (mutual and stock) in the United States, number of depositors, amount of individual deposits, and average amount due each depositor in years ended June SO, 1914 to 1927', inclusive Year Banks 1914—Mutual savings banks. Stock savings banks 1915—Mutual savings banks.. Stock savings banks 1916—Mutual savings banks.. Stock savings banks 1917—Mutual savings banks.. Stock savings banks 1918—Mutual savings banks.. Stock savings banks 1919—Mutual savings banks.. Stock savings banks 1920—Mutual savings banks.. Stock savings banks 1921—Mutual savings banks. Stock savings banks 1922—Mutual savings banks. Stock savings banks 1923—Mutual savings banks. Stock savings banks 1924—Mutual savings banks. Stock savings banks 1925—Mutual savings banks. Stock savings banks 1926—Mutual savings banks. Stock savings banks 1927—Mutual savings banks. Stock savings banks 634 1,466 630 1,529 622 1,242 622 1,185 625 1,194 622 1,097 620 1,087 623 978 619 1,066 618 1,029 613 990 611 972 620 904 618 843 * Dividends unpaid included. Depositors 8, 277, 359 2,832,140 8, 307, 787 2, 977, 968 8, 592, 271 2, 556,121 8,935, 055 2, 431,958 9,011, 464 2, 368,089 2,486, 073 9,445, 327 1,982, 229 9, 619, 260 1,118, 583 9, 655, 861 2, 883,136 10, 057, 436 3, 282, 897 10, 409, 776 3, 562,017 10, 616, 215 2 4,040, 312 11,053, 886 4,107,913 11,337, 398 3,476,873 Deposits * Average due each depositor $3,915, 555, 286 1, 018, 330,071 3, 950, 585, 631 1, 046, 096,917 4,187, 916,941 901, 936,188 4, 422, 489, 344 996,165, 031 A, 422, 092, 991 1, 049, 694, 890 4, 751, 300,000 1,152, 127,000 5,186, 952,000 1, 351, 242,000 5, 575,147,000 442, 851,000 5, 779, 506,000 1, 401, 742,000 6, 288, 551,000 1, 609,358,000 6, 693, 246,000 1, 746, 609,000 7,146, 951, 000 1, 918, 230,000 7, 577, 504,000 2, 021, 614,000 8, 077,099,000 1, 661, 803,000 $473. 04 359. 56 475. 53 351. 28 487. 40 352. 85 494.96 409. 61 490. 72 443. 27 530. 94 463. 43 549.16 681.68 579. 58 395.90 598. 55 486.19 625. 26 490. 22 642.98 490. 34 673. 21 2 474. 77 685. 51 492.13 712. 43 477.96 a Revised. PRIVATE BANKS The total resources of 467 reporting private banks in the country on June 30, 1927, aggregated $164,148,000, which was a decrease of $10,004,000 in resources as reported by 495 such associations on June 30,1926. In the States of Texas, Michigan and Iowa, however, private banks are not under State supervision, and returns concerning them for the current year were obtained direct from but 116 of approximately 360 banks in these three States. Loans and discounts of all reporting private banks were $90,893,000, a decrease of $1,666,000 in the year. Overdrafts showed a reduction of $103,000 and investments in bonds and securities a reduction of $6,841,000. Banking house, furniture and fixtures, $3,823,000, were reduced $1,027,000 over the figures received last year, but other real estate owned exceeded the previous returns by $126,000. Due from banks, $22,099,000, was greater by $1,205,000, and lawful reserve was $158,000 greater than last year. Checks and other cash items, exchanges for clearing house, cash on hand, and other resources all showed reductions over the previous 12-month period, the greatest decrease being $942,000 reported in cash on hand. The paid-in capital, $9,447,000, showed a reduction of $448,000, and surplus, $9,815,000 and undivided profits, $1,710,000, were $1,296,000 and $60,000 less, respectively, than on June 30, 1926. Total deposits were reduced from $133,249,000 to $124,353,000, the greatest decrease, $8,539,000, appearing in individual deposits. Notes and bills rediscounted, $391,000, and bills payable, $12,098,000, showed increases of $54,000 and $1,150,000, respectively. REPORT OF THE COMPTROLLER OF THE CURRENCY 95 Summary of the resources and liabilities of these banks follows: ^Summary of reports of condition of 467 'private banks in the United States at the close of business June 80, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate)-On demand (not secured by collateral) On time (secured by collateral other than real estate) On time (not secured by collateral) Secured by farm land Secured by other real estate i Not classified Total Overdrafts Investments (including premiums on bonds): United States Government securities State, county, and municipal bonds Railroad bonds Bonds of other public-service corporations (including street and interurban-railway bonds) Other bonds, stocks, warrants, etc Total Banking house (including furniture and Other real estate owned Due from banks Lawful reserve with reserve agents Checks and other cash items Exchanges for clearing house Cash on hand: Gold coin Silver coin Paper currency Nickels and cents Cash not classified 1, 211 1, 000 5, 087 5, 320 3, 801 7, 843 66, 631 90,893 417 3, 244 1, 656 575 975 22, 215 28,665 3, 823 8, 261 22, 099 3, 206 568 43 fixtures) 41 98 1, 248 11 1, 799 Total Other resources 3, 197 2, 976 Total resources 164, 148 LIABILITIES Capital stock paid in Surplus Undivided profits (less expenses and taxes paid) Due to all banks Certified checks and cashiers' checks Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check Demand certificates of deposit State, county, or other municipal deposits Dividends unpaid Other demand deposits Time deposits— Time certificates of deposit Other time deposits Postal-savings deposits Not classified Total 9, 447 9, 815 1, 710 817 312 42, 188 11, 402 2, 866 13 8, 399 21, 591 31, 054 3 5, 708 123,224 96 REPORT OF THE COMPTROLLER OF THE CURRENCY Notes and bills rediscounted Bills payable (including certificates of deposit representing money borrowed) Other liabilities Total liabilities 391 12,098 6, 334* 164, 148 ALL REPORTING BANKS OTHER THAN NATIONAL The combined resources of 19,265 reporting banks other than national, June 30, 1927, aggregated $41,550,615,000, and exceeded by $1,972,877,000 the resources of 20,168 banks other than national reporting as of June 30, 1926. The decrease in number of banks was 903. Loans and discounts amounted to $23,314,682,000, and were $731,326,000 more than a year ago; overdrafts, $33,662,000, showed a reduction of $6,089,000, and investments in United States and other miscellaneous bonds and securities, $10,861,875,000, showed an increase of $888,987,000. Banking house furniture and fixtures with estimated value of $899,887,000 were greater in the current year by $39,679,000, and other real estate owned, $283,656,000, increased $40,608,000. Amounts due from correspondent banks and bankers, including lawful reserve with the Federal reserve banks or other reserve agents, increased in the year $121,358,000, or from $3,405,042,000 to $3,526,400,000. Checks and other cash items showed an increase of $110,322,000, while exchanges for clearing house were less by $39,320,000. Cash on hand, $643,692,000, was greater by $7,123,000 than on the same date the year previous. Other resources were increased $78,883,000. The combined paid-in capital stock of these banks was $1,902,325,000, or $41,894,000 more than in the preceding year. Surplus, $2,507,582,000, and undivided profits, $622,785,000, showed increases of $234,513,000 and $37,201,000, respectively. The total deposit liabilities in the current year amounted to $34,960,735,000, and were $1,546,522,000 greater than in the preceding year. Individual deposits were increased $1,103,317,000; cashiers' checks and certified checks outstanding were greater by $431,096,000; due to banks was $1,251,000 more, and United States deposits were increased $10,858,000. Notes and bills rediscounted, $108,103,000, and bills payable, $353,363,000, showed reductions in the year of $6,730,000 and $32,990,000, respectively. Other liabilities were increased $152,467,000. The summary following shows resources and liabilities of all reporting banks other than national: Summary of reports of condition of 19,265 State (commercial), savings, private banks and loan and trust companies in the United States, Alaska, and insular possessions at the close of business June 30, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate) On demand (not secured by collateral) 1, 117, 448 266, 139 REPORT OF THE COMPTROLLER OF THE CURRENCY 97 Loans and discounts—Continued. On time (secured by collateral other than real estate) 670,443 On time (not secured by collateral) 1, 244, 636 Secured by farm land 72? 032 Secured by other real estate 4, 715, S59 Not classified 15, 228, 125 Total Overdrafts „ Investments (including premiums on bonds): United States Government securities State, county, and municipal bonds Railroad bonds _ Bonds of other public service corporations (including street and interurban-railway bonds) Other bonds, stocks, warrants, etc 23,314,682 33,662 1, 233, 269 980, 101 1, 002, 542 683, 640 6, 962, 323 Total . 10,861,875 Banking house (including furniture and fixtures) 899, 887 Other real estate owned 283, 656 Due from banks 1, 999, 498 Lawful reserve with Federal reserve bank or other reserve agents._„ 1, 526, 902 Checks and other cash items 869, 936 Exchanges for clearing house 172, 231 Cash on hand: Gold coin 18, 068 Silver coin 23,728 Paper currency 262, 200 Nickels and cents 1, 926 Cash not classified 337, 770 Total Other resources 643,692 944, 594 Total resources 41, 550, 615 LIABILITIES Capital stock paid in •_ 1, 902,325 Surplus i 2, 507, 582 Undivided profits (less expenses and taxes paid) 622, 785 Due to all banks 1, 432, 400 Certified checks and cashiers' checks 580, 953 Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check 11, 356, 635 Demand certificates of deposit 415, 039 State, county, or other municipal deposits 610, 410 Dividends unpaid 33, 879 Other demand deposits 515, 439 Time deposits— Time certificates of deposit 1, 818, 224 State, county, or other municipal deposits 12, 309 Other time deposits 17, 200, 115 Postal savings deposits 35, 421 Not classified . 895, 730 Total „ 32, 893, 201 United States deposits (exclusive of postal savings) 54, 181 Notes and bills rediscounted 108, 103 Bills payable (including certificates of deposit representing money borrowed) 353, 3§3 Other liabilities 1, 095, 722 Total liabilities . __- 41,550,615 98 REPORT OF THE COMPTROLLER OF THE CURRENCY The resources and liabilities of each class of reporting banks, other than national, June 30, 1927, are shown in the following table: Resources and liabilities of 19,265 State (commercial) banks, loan and trust companies, savings banks, and-privatebanks, June SO, 1927 [In thousands of dollars] 15,690 loan State (com- 1,647 and trust mercial) companies banks 618 mutual savings banks 843 stock savings banks 19,265 total banks 467 private banks BESOTJBCES Loans and discounts (including rediscounts) Overdrafts _ Investments (including premiums on bonds) Banking house, furniture and fixtures Other real estate owned Due from banks. Lawful reserve with Federal reserve bank or other reserve agents Checks and other cash items Exchanges for clearing house dash on hand Other resources, 90,893 23,314,682 33,662 7,479, 570 3,690 5,064,595 3,391,212 3,498,845 3, 523,350 419,803 462, 665 1.52,416 1,101,279 294,212 85,985 520, 555 93, 330 12, 668 224, 741 45,857 24, 326 130,824 282, 338 121,967 413, 739 377,102 818, 225 572, 869 46,845 171,852 502,108 1,094 209 31,212 59,986 7,408 13,067 3,167 23,692 2,422 3,206 568 43 3,197 2,976 1, 526,902 869,936 172,231 643, 692 944,594 16, 564,988 13,994, 756 9,011,185 1,815, 538 164,148 41, 550, 615 1,078,087 Capital stock paid in 735,949 Surplus Undivided profits (less expenses and taxes paid) 270,096 D u e to all banks 614,807 Certified checks and cashiers' 195, 514 checks _ Individual deposits (including dividends unpaid and postal savings) 12,936, 590 United States deposits 5,085 13,751,996 Total deposits53,360 Notes and bills rediscounted Bills payable (including advances received from War Finance Corporation and certificates of deposit representing money borrowed) _ _ 214,535 Other liabilities 460,965 745, 647 932, 337 782,927 69,144 46,554 9, 447 9,815 1,902,325 2, 507,582 195,617 805, 334 137,332 108 18,030 11,334 1,710 817 622,785 1,432,400 384,632 44 451 312 580,953 10,094,485 48, 534 11,332,985 52,951 8,077,099 1,661,803 562 1,674,150 1,401 123,224 ~8,~077,~25T 124,353 391 32,893,201 54,181 34,960,735 108,103 123,892 611,327 568 13,107 2,270 12,098 6,334 353,363 1,095,722 13,994,756 9,011,185 1,815,538 164,148 41,550,615 Total resources , 9, 534,915 1,144,709 263 417 28,665 3,823 8,261 22,099 10,861,875 899,887 283,656 1,999,498 LIABILITIES Total liabilities 16,564,988 PRINCIPAL ITEMS OF RESOURCES AND LIABILITIES OF ALL REPORTING BANKS OTHER THAN NATIONAL ON OR ABOUT J U N E 3 0 , 1 9 2 3—19 27 The principal items of resources and liabilities of reporting banks other than national, for years ended on or about June 30, 1923 to 1927, are shown in the statement following: REPORT OF THE COMPTROLLER OF THE CURRENCY 99 Consolidated returns from State (commercial), savings, private banks, and loan and trust companies [In thousands of dollars] Items Loans J... Investments Cash Capital Surplus and undivided profits Deposits (individual) Resources-, 1923 1924 18,459,327 19,359,419 8,602, 844 9,086, 417 505,993 566, 281 1,723,476 1, 780, 192 2,206,818 2,356,855 25,990, 735 28,100, 938 32,523,145 34, 578, 771 1925 1926 1927 21,073,990 22, 623,107 23,348,344 10,861,875 9,669, 669 9,972,888 643,692 591, 681 636, 569 1,902, 325 1,800,276 1,860,431 3,130,367 2,580,134 2,858, 653 30,411,030 31,789,884 32,893,201 37, 706,174 39, 577, 738 41,550,615 i Including overdrafts. C O N D I T I O N OF N A T I O N A L B A N K S J U N E 3 0 , 1 9 2 7 The total resources of 7,796 reporting national banks in the continental United States, Alaska, and Hawaii, June 30, 1927, amounted to $26,581,943,000, as compared with resources of 7,978 national banks, aggregating $25,315,624,000, on June 30, 1926, an increase in the year of $1,266,319,000. Loans and discounts, including rediscounts, were $13,955,696,000, and greater by $538,022,000 than the figure reported a year ago. The percentage of loans and discounts to total deposits was 64.09, in comparison with a ratio of 65 per cent the year previous. United States Government securities owned amounted to $2,596,178,000, and other miscellaneous bonds and securities held were $3,797,040,000. These items show increases in the year of $126,910,000 and $424,055,000, respectively. Amounts due from reporting banks and bankers, including lawful reserve with the Federal reserve banks were $3,374,002,000, an excess of $9,983,000 over June 30, 1926. Cash in the banks' vaults increased from $359,951,000 to $364,204,000, during the 12-month period. Banking houses, furniture and fixtures were $680,218,000, possessing a reported value of $47,376,000 more than on the same date in the year 1926. Other real estate owned decreased from $115,869,000 to $115,817,000. The paid-in capital stock of the reporting banks was $1,474,173,000 and exceeded by $61,301,000 the amount reported a year ago. Surplus and undivided profits of $1,765,366,000 were increased $88,880,000 in the year. Liability for circulating notes outstanding amounted to $650,946,000, which was a decrease of $209,000 since the corresponding date of the year preceding. Total deposit liabilities were $21,775,123,000, and showed an increase of $1,132,959,000 in the year. In the classification of these liabilities were balances due to correspondent banks and bankers, including certified checks and cashiers7 checks outstanding, $3,395,927,000, which was a decrease in the year of $9,321,000. The total of individual deposits, including postal savings, however, was $18,239,353,000, and showed an increase of $1,146,941,000 over June 30 last year. Bills payable amounted to $248,018,000, and rediscounts, $120,024,000, in comparison with $253,807,000 and $168,149,000, respectively, in June of 1926. 100 KEPORT OF THE COMPTROLLER OF THE CURRENCY Condensed statement of resources and liabilities of all reporting national banks at the close of business June 30, 1927, follows: Summary of reports of condition of 7,796 national banks in the United States at the close of business June SO', 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than rea* estate) On demand (not secured by collateral) On time (secured by collateral other than real estate) _ On time (not secured by collateral) Secured by farm land Secured by other real estate Not classified Total Overdrafts Investments (including premiums on bonds): United States Government securities State, county, and municipal bonds Railroad bonds Bonds of other public service corporations (including street and interurban-railway bonds) Other bonds, stocks, warrants, etc 2, 566, 471 821, 795 3, 260, 283 6, 125, 942 305, 209 757, 316 118, 680 13, 955, 696 9,788 2, 596, 178 743, 539 656, 690 648, 767 1, 748, 044 Total 6, 393, 218 Banking house (including furniture and fixtures) 680, 218 Other real estate owned 115, 817 Due from banks r ._ 1,967,950 Lawful reserve with Federal reserve bank or other reserve agents-_ 1, 406, 052 Checks and other cash items 191, 054 Exchanges for clearing house 947, 946 Cash on hand: Gold coin 17,121 Silver coin * 37, 743 Paper currency 309, 340 Total Other resources 2 Total resources 364,204 550,000 26, 581, 943 LIABILITIES Capital stock paid in Surplus Undivided profits (less expenses and taxes paid) Reserved for taxes, interest, etc., accrued National-bank circulation Due to all banks Certified checks and cashiers' checks Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check Demand certificates of deposit State, county, or other municipal deposits Dividends unpaid Other demand deposits i Includes clearing house certificates. * Includes $253,131,000 customers' liability account of acceptances. „ 9, 787, 513 205, 075 693, 835 36, 550 200, 756 1, 474, 173 1, 256, 945 508, 421 70, 326 650, 946 2, 856, 937 538, 990 REPORT OF THE COMPTROLLER OF THE CURRENCY 101 Individual deposits (including postal savings)—Continued Time deposits— Savings deposits 5, 875, 670 State, county, or other municipal deposits 224, 848 Other time deposits 1, 137, 992 Postal savings deposits 77, 114 Total 18,239,353 United States deposits (exclusive of postal savings) 139, 843 Notes and bills rediscounted 120, 024 Bills payable (including certificates of deposit representing money borrowed) 248,018 Other liabilities _-_ 477,967 Total liabilities . 26, 581, 943 RESOURCES AND LIABILITIES OF ALL REPORTING BANKS I N THE UNITED On June 30, 1927, there were 27,061 reporting banking associations in the continental United States, Alaska, and insular possessions, with combined resources aggregating $68,132,558,000, and exceeded by $3,239,196,000 the total resources of 28,146 reporting banks as of June 30, 1926. Loans and discounts, including rediscounts, totaled $37,270,378,000, as compared with $36,233,490,000 the year previous, an increase of $1,036,888,000. Overdrafts, $43,450,000, were decreased $6,020,000, and investments in United States and other miscellaneous bonds and securities, $17,255,093,000, were $1,439,952,000 more than reported last year. Banking house, furniture and fixtures, $1,580,105,000, and other real estate owned, $399,473,000, a total of $1,979,578,000, increased in the year $127,611,000. Amounts due from correspondent banks and bankers, including lawful reserve, totaled $6,900,402,000, and showed an increase in the year of $131,341,000; checks and other cash items, including exchanges for clearing house, $2,181,167,000, exceeded last year's figures by $143,606,000, and cash on hand, $1,007,896,000, was $11,376,000 more than the returns for June 30, 1926. Other resources were increased $354,442,000. The paid in capital stock, $3,376,498,000, showed an increase of $103,195,000, and surplus, $3,764,527,000, and undivided profits, $1,131,206,000, exceeded last year's figures by $292,559,000 and $68,035,000, respectively. The deposit liability of all reporting banks was $56,735,858,000, or $2,679,481,000 more than in the previous year. In the total of this item are included individual deposits of $51,132,554,000; certified checks and cashiers7 checks, $1,119,943,000; due to banks, $4,289,337,000, and United States deposits, $194,024,000. With the exception of amounts due to banks, which showed a decline in the year of $41,268,000, each of the other deposit items increased materially, the largest increase being $2,250,258,000 and appearing in individual deposits, which include dividends unpaid and postal savings. Notes and bills rediscounted, $228,127,000, and bills payable, $601,381,000, a total of $829,508,000, showed a reduction in the year 102 REPORT OF THE COMPTROLLER OF THE CURRENCY of $194,286,000. Other liabilities, $1,573,689,000, were increased $284,713,000. A summary of the resources and liabilities of these banks follows, together with a statement showing population of each State, number of reporting banks, resources and liabilities, and classifications of loans and discounts, investments, cash, and deposits, June 30, 1927, with a recapitulation by classes of banks: SUMMARY OF THE COMBINED RETURNS FROM ALL REPORTING BANKS I N THE UNITED STATES, ALASKA, AND INSULAR POSSESSIONS, J U N E 3 0 , 1927 Summary of reports of condition of 27,061 reporting banks in the United Slates, Alaska, and insular possessions, at the close of business June 80, 1927 [In thousands of dollars] RESOURCES Loans and discounts: On demand (secured by collateral other than real estate) 3, 683, 919 On demand (not secured by collateral) 1, 087, 934 On time (secured by collateral other than real estate) 1 3, 930, 726 On time (not secured by collateral) 7, 370, 578 Secured by farm land 377, 241 Secured by other real estate 5, 473, 175 Not classified 15, 346, 805 Total Overdrafts Investments (including premiums on bonds): United States Government securities State, county, and municipal bonds Railroad bonds Bonds of other public service corporations (including street and interurban-railway bonds) Other bonds, stocks, warrants, etc 37, 270, 378 43,450 3, 829, 447 1, 723, 640 1,659,232 1, 332, 407 8, 710, 367 Total 17, 255, 093 Banking house (including furniture and fixtures) 1, 580, 105 Other real estate owned 399, 473 Due from banks 3, 967, 448 Lawful reserve with Federal reserve bank or other reserve agents 2, 932, 954 Checks and other cash items _. 1, 060, 990 Exchanges for clearing house 1, 120, 177 Cash on hand: Gold coin 35, 189 Silver coin 61, 471 Paper currency 571, 540 Nickels and cents 1, 926 Cash not classified 337, 770 Total Other resources l Total resources 1, 007, 896 1, 494, 594 68, 132, 558 i Includes $253,131,000 customers' liability account of acceptances reported separately by national banks only. REPORT OF THE COMPTROLLER OP THE CURRENCY 103 LIABILITIES Capital stock paid in ___' Surplus Undivided profits (less expenses and taxes paid) Reserved for taxes, interest, etc., accrued 2 National-bank circulation Due to all banks „ Certified checks and cashiers' checks Individual deposits (including postal savings): Demand deposits— Individual deposits subject to check 21, 144, 148 Demand certificates of deposit 620, 114 State, county, or other municipal deposits 1, 304, 245 Dividends unpaid 70, 429 Other demand deposits ~ 716, 195 Time deposits— Savings deposits including time certificates of deposit 26, 032, 001 State, county, or other municipal deposits 237, 157 Postal savings deposits . 112, 535 Not classified____ 895, 730 3, 376, 498 3,764,527 1, 131, 206 70, 326 650, 946 4,289, 337 1, 119, 943 Total 51, 132, 554 United States deposits (exclusive of postal savings) 194, 024 Notes and bills rediscounted 228, 127 Bills payable (including certificates of deposit representing money borrowed) 601,381 Other liabilities... ._. 1, 573, 689 Total liabilities 2 . Reported separately by national ban 71284°—28 8 _• 68, 132, 558 Assets and liabilities of all reporting banks in the United States, Alaska* and insular possessions June, 1927 [Includes national, State (commercial) banks, loan and trust companies, savings, and private banks] Resources (in thousands of dollars) States and Territories, etc. Population Num(approxi- ber of mate) banks 144 Maine 784,000 123 New Hampshire 456,000 105 Vermont 356,000 442 Massachusetts 4, 225, 000 37 Rhode Island 675, 000 250 Connecticut 1, 596,000 Total New England States 8,092,000 1,101 New York 11, 600, 000 1,151 568 New Jersey 3, 770, 000 Pennsylvania 9, 500, 000 1,640 Delaware __ 59 240,000 Maryland _ ^ 1,615, 000 244 District of Columbia 510, 000 43 Total Eastern States 27, 235,000 3,705 Virginia 497 2,495,000 339 West Virginia 1,620,000 540 North Carolina 2,880,000 281 1,825,000 South Carolina 471 3,100,000 Georgia 327 1, 265,000 Florida 356 Alabama 2, 500,000 348 1,793,000 Mississippi 232 1,910, 000 Louisiana 1,426 Texas '.... 5, 220,000 455 1,880, 000 Arkansas 590 2, 515, 000 Kentucky 520 2,450,000 Tennessee Total Southern 31,453,000 6,382 States 6,460,000 1,067 Ohio 3,130,000 1,065 Indiana 7,175, 000 1,843 Illinois 4,325,000 796 Michigan Loans and discounts, Overincluding drafts rediscounts Investments 196,042 139, 983 155,001 2,721, 665 274, 314 762,954 108 39 48 374 31 196 213,751 142,478 80,546 1,624, 386 239,178 423,896 4, 249,959 10,150, 482 1,464, 623 3,140,141 78, 406 442, 034 181,841 15, 457, 527 457, 490 299, 713 342, 503 143, 794 297, 641 278, 322 221, 534 157, 586 330, 778 754,466 170, 223 372, 004 333,283 796 2,730 195 872 23 135 74 4,029 243 208 257 259 303 109 132 1,275 1,161 1,655 340 531 890 2, 724,235 4,159,337 1,940,814 673,111 2,700,484 914,625 7,3 932 651 1,762 943,462 699,600 207,137 962,966 4, 500, 055 790, 610 2,270,088 53, 228 312,090 59,691 7,985,762 79,280 65,480 45,402 36,673 54,354 123, 514 50,308 51,354 66,002 186, 635 28,324 107,016 49,120 Lawful reBanking serve with Checks and house, Other real Due from Federal reserve other furniture •estate banks owned banks or cash and other reitems fixtures serve agents 15,920 9,238 9,479 160,541 9,431 40,862 5,728 3,435 2,559 138,997 20,597 32,005 521 515 462 22,305 421 2,317 117,008 266,347 71,024 196, 750 3,976 21, 771 20,560 580,428 20,099 19, 511 22,021 7,619 15,178 19,319 10,371 5,714 27,802 45, 733 7,321 6,827 20, 561 44, 596 245,471 5,258 577,485 11, 796 115,181 49, 062 271,151 1,224 3,771 4,376 41, 325 2,584 25, 387 74,300 1,034,300 5,446 54,318 4,463 39,865 3,916 61,829 5,213 27,658 9,019 34, 526 3,407 93,286 4,340 38, 759 2,124 39,453 5,644 47, 787 16,226 146, 758 4,392 18,882 1,006 22,960 5,786 70,854 203, 321 1,036,405 79,045 321, 744 6,278 9,610 1,499, 518 15, 599 8,287 7,682 4,824 31,845 13,666 8,783 3,727 15,032 99,462 31,005 12,919 10,778 26,541 833, 523 7,228 18,296 259 4,577 3,320 867, 203 4,027 872 1,563 874 3,169 3,071 2,000 709 4,356 7,224 739 1,115 6,861 228,076 106,451 39,741 103,907 69,206 70,982 17,928 9,988 16,926 10,008 263,609 221,828 19,069 194,514 123,156 2,921 7,591 14,571 15,646 5,587 5,196 71, 077 6,075 26,087 1,161 137 3,728 30,974 277 8,319 696,935 115,009 107,289 387,349 116,813 Exchanges for clearing house Cash on Other re- Aggregate hand 5,633 2,558 2,348 33,221 9,138 14,978 21,728 409 4,559 70, 395 7,232 3,239 466,694 304,088 261,716 4,911,842 571,441 1,320,034 720 15,680 4,425 789,609 2,506 1,678 4,540 1,057 4,067 2,296 1,364 702 10, 203 8,625 256 2,705 1,787 67,876 154, 308 39, 922 100,426 1,907 11,276 5,791 313,630 10,158 9,449 11,469 4,913 8,624 15, 586 9,445 5,441 9,041 29,984 5,950 51,137 9,018 107, 562 681, 081 27,969 74,328 1,438 41,367 1,901 828,084 22,506 2,968 2,776 1,957 4,117 7,835,815 18,894, 762 2,619,291 6,512,856 151, 230 941,067 315,184 29,434,390 671,672 452,494 503,958 234,841 462,843 562,565 349,241 276,588 529,314 1,314,162 268,903 591,418 41,786 7,240 3,018 91,485 31,950 71,845 26,746 65,634 34,075 515 100 37,907 4,747 5,181 48,450 687, 088 11,698 2,205 8,503 11,508 17,394 1,471 13,198 17,888 116,480 53,461 106,052 78,266 40,286 6,744,825 3,238,029 1,200,393 4,617,864 2,267,854 Wisconsin Minnesota Iowa Missouri Total Middle Western States North Dakota South Dakota Nebraska . "Kansas ^ ^ Montana Wyoming Colorado.. _ New Mexico Oklahoma Total Western States-.. Washington Oregon California.. Idaho Utah . ... . Nevada Arizona... Total Pacific States. 2,920,000 2,645,000 2,525,000 3,465,000 973 1,196 1,438 1,439 632,773 547,023 616,437 890,923 561 560 690 732 271,461 349,815 180,481 350, 298 30,024 21,365 29,641 35,650 32,645,000 8,314 18,306 30,570 13,298 48,132 114,105 114,681 213,596 76,383 30,063 21,042 37,417 5,559 8,700 2,791 2,395 6,544 7,041 3,981 12,007 18,473 25,168 20,955 23,107 2,402 6,902 2,736 22,057 1,100,626 1,129,048 1,024,005 1,601,480 125,338 1,216,974 9,817 8,916,190 6,551 3,931,384 435,985 723,472 60,174 163,266 286,003 313,962 16,179,299 667, 000 690,000 1,375,000 1,840, 000 680, 000 228,000 1,048,000 390,000 2, 332,000 530 417 1,025 1,180 210 88 297 59 696 99,707 90,658 337,926 311,022 83,451 37,299 159,201 20,241 244,901 173 322 771 493 375 68 159 20 475 29,165 28,971 63,814 82,659 46,417 14,352 96,682 11,517 125,260 5,762 5,095 14,471 18,238 4,713 2,127 7,277 1,536 17,776 7,952 6,291 16,955 8,394 3,153 953 3,232 627 4,186 6,992 18,896 71,229 79,212 22,475 8,757 32,230 3,947 88,577 10,955 3,142 12,131 19,921 3,996 1,997 24,164 1,618 23,639 551 296 3,332 2,065 356 313 2,507 227 2,052 275 652 3,078 2,581 484 174 3,015 3,660 3,811 3,583 12,136 12,149 4,565 2,068 8,483 1,403 9,331 383 734 5,579 4,721 404 311 906 161 1,394 165,726 158,640 541,422 541,455 170,389 68,419 337,856 41,297 521,251 9,250,000 4,502 1,384,406 2,856 498,837 76, 995 51,743 332,315 101,563 11,699 13,919 57,529 14,593 2,546,455 1,530,000 860,000 4,350,000 507,000 509, 000 78,000 434,000 8,268,000 358 253 544 144 107 35 46 1,487 260,821 160,569 2,312,236 47,724 111,305 27,824 42,390 2,962,869 214 317 2,376 99 232 74 57 3,369 143, 639 92,102 815,519 25,441 29,175 7,844 19,216 1,132,936 16,283 10,586 98,929 2,923 3,902 1,576 2,071 136,270 2,797 2,232 17,888 1,887 2,584 672 2,513 30,573 35,132 24,791 300,057 12,044 17,609 5,189 9,307 404,129 35,160 21,777 73,704 2,961 5,073 866 1,930 141,471 2,184 1,558 49,806 293 637 121 726 55,325 5,926 3,186 49,543 119 1,765 134 541 61,214 10,212 7,662 51,889 2,371 1,986 1,579 3,190 78,889 7,778 1,975 62,011 1,641 1,625 650 863 520,146 326,755 3,833,958 97,503 175,893 46,529 82, 04 76,543 5,083,588 91,000 Alaska 300,000 The Territory of Hawaii.. Porto Rico 1,370,000 11,100,000 Philippines Total Alaska and insular possessions- - 12,861,000 Total United States, Alaska, and insular possessions _ _129,804,000 17 23 15 12 5,664 55,155 41,622 37,649 25 1,229 143 17,089 4,881 22,938 4,641 6,017 293 2,341 1,298 1,411 103 526 339 973 1,746 10,516 5,282 19,780 63 2,042 916 447 42 956 3,586 3,514 15,698 8 7,310 1,930 28,122 13,781 105,643 61,576 127,186 67 140,090 18,486 38,477 5,343 1,941 37,324 3,468 23,754 37,370 308,186 27,061 37,270,378 43,450 17,255,093 1,580,105 2,932,954 1,060,990 1,120,177 1,007,896 1,494,594 68,132,558 7,796 15,690 618 843 1,647 467 13,955,696 9,534,915 5,064,595 1,144,709 7,479,570 90,893 9,788 29,292 27,061 37,270,378 6,393,218 680,218 3,391,212 462, 665 3, 523,350 93,330 45,857 419,803 294,212 3,498,845 28,665 17,255,093 1,580,105 399,473 3,967,448 1,891 1,933 RECAPITULATION National banks State (commercial) banks. _ Mutual savings banks Stock savings banks Trust companies Private banks Grand total— 1 263 3,690 417 43,450 115,817 1,967,950 152,416 1,101,279 12,668 224,741 24,326 130,824 85,985 520,555 8,261 22,099 399,473 3,967,448 Includes $253,131 000 customers' liability account of acceptances reported separately by national banks only. 1,406,052 698,063 7,408 818,225 3,206 2,932,954 191,054 947,946 364,204 550,000 377,102 413, 739 121,967 209 31,212 2,422 3,167 23,692 502,108 46,845 171,852 2,976 43 3,197 1,060,990 1,120,177 1,007,896 1,494,594 1,094 13,067 572,869 26,581,943 16,564,988 9,011,185 1,815,538 13,994,756 164,148 68,132,558 Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June, 1927—Continued Liabilities (in thousands of dollars) States and Territories, etc. Maine New Hampshire _. Vermont _ Massachusetts _ Rhode [sland _ Connecticut Total New England States. New York New Jersey Pennsylvania... _ Delaware Maryland District of Columbia Total Eastern States Virginia ._ West Virginia North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky, lessee. Total Southern States. Capital stock paid in Undivided profits (less Surplus expenses and taxes paid) 17,753 13,201 18,850 6,530 13,324 7,976 196,496 125, 528 28,601 14,265 74,876 42,662 210,162 349,900 629,386 1,373,061 125,903 140,749 349,104 603,515 10, 507 13,001 43, 923 65,769 24,451 17,727 1,183,274 2,213,822 39,086 59,048 26,276 35,012 24,942 38,240 10,284 20,015 24,396 40,795 21,406 36,887 19,761 28,098 10,310 17,006 20,046 33,386 50,772 117,606 9,371 22,617 35,418 43,832 24,861 41,215 533,757 316,929 16,464 11,169 139,178 44,730 237,099 129,702 46,695 154,425 5,289 15,415 7,507 359,033 12,176 10,526 9,961 3,931 13,378 8,841 3,069 26,119 5,263 5,369 2,435 119,594 Reserved for taxes, Nationalinterest, bank ciretc., ae- culation crued * 400 58 78 5,777 215 1,183 7,711 19,085 1,457 7,256 23 750 1,053 511 821 335 721 427 536 212 447 2,222 176 1,282 571 9,314 5,679 4,678 4,293 19,531 4,024 10,097 Due to banks 4,298 4,097 1,255 179,660 5,606 12,824 207, 740 67,445 1,725,540 20,780 50,886 83,211 347,788 ],142 1,602 9,553 45,279 3,976 16,616 186,107 2,187, 711 40,902 20,465 10,413 11,846 9,416 10,158 8,036 37,268 5,422 43,643 9,335 2,930 12,083 4,291 47,493 43,231 117,228 3,441 19,175 16,317 27,430 12,914 27,410 152,493 I 437,129 Certified checks and cashiers' checks Individual deposits (including dividends unpaid and postal savings) 1,248 381,030 551 253,295 577 221,758 22,745 4,073,262 493,105 1,416 6,021 1,100,935 32,558 6, 523,385 819,745 13,374,564 11,258 2,127,163 31,320 4,706,824 451 115,441 2,281 726,664 1,515 237,324 866,570 21,287,980 3,049 451,823 2,409 342,850 6,215 356,767 745 174,798 1,836 314,406 6,672 417,609 857 256,599 1,131 216,735 3.032 369,023 14; 691 902,229 1,956 197,584 3,473 424,406 1,324 385,078 47,390 4,809,907 Bills payable (including advances received Notes from War United and bills Finance Other States Corpora- liabilities redisdeposits counted tion and certificates of deposit representing money borrowed) 190 432 89 23,477 635 1,967 26, 790 15,068 10,691 45,833 75 3,005 3,467 78,139 2,324 437 1,428 1,013 4,495 1,096 2,306 292 1,185 10,778 276 788 1,851 28,269 578 1,065 18,601 127 795 21,814 11,088 9,294 10, 514 475 2,293 6 33, 670 5,003 2,085 6,434 2,057 6,727 1,751 4,968 1,966 9,572 3,738 1,396 618 1,807 48,122 4,761 2,629 2,138 32,906 100 17,847 60,381 96,223 34, 739 804 15,255 948 236,308 8,914 7,532 12,935 4,254 7,614 11,291 6,836 5,355 13,892 12,392 6,855 6,602 6,624 111, 096 21,022 1,221 298 74,681 6,654 6,097 109,973 633,855 39,676 84,727 2,420 10,880 1,349 772,907 27,829 2,597 3,905 969 3,171 6,523 1,505 5,499 18,259 13,156 793 25,883 20,736 130, 825 Ohio ... Illinois Michigan Wisconsin Minnesota Iowa Missouri - - _ - - — - - Total Middle Western States North Dakota South Dakota Nebraska Kansas ._ Montana Wynmirig „ ...... . . . . . . Colorado . -New Mexico Oklahoma ...... Total Western States Washington Oregon California Idaho . __, Utah Nevada ~_ Arizona „ Total Pacific States.. — Alaska The Territory of Hawaii Porto Rico Philippines „ Total Alaska and insular possessions.. Total United States, Alaska, and insular possessions 178,970 80,216 273,232 119,992 64,178 62,586 71,102 121, 6S4 141,882 42,254 196,346 100,470 34,527 33,819 31,406 64,076 55,617 22,466 115,496 34,092 20,160 16,253 13,353 33,279 1,667 537 7,286 1,435 2,262 3,152 562 393 36,870 22, 775 34,628 13,929 16,045 13,976 15,176 16,373 133,851 49,320 400,502 74,654 53,085 83,255 55,448 142,751 4,915 6,305 48, 739 13,046 5,936 10,266 2,574 11,120 2,537, 421 823,327 3,422,618 1,784,456 881,151 890,043 814, 568 1,147, 696 4,152 1,707 6,090 5,629 1,613 4,142 1,936 2,975 6,634 37,899 13,972 4,736 6,645 1,913 5,175 14,762 33,754 10,835 22,327 28,857 7,777 7,232 3,938 22,778 102,296 102,752 76,628 86,558 7,247 2,411 8,767 23,593 971,900 644,780 310,716 17,294 169,772 20 101 784 466 208 100 704 7 403 3,498 2,269 7,803 9,856 2,353 1,666 4,306 1,245 6,955 1,100 1,172 4,093 3,589 1,360 357 3,397 399 7,439 28, 244 172 708 573 1,070 305 105 257 113 1,350 91, 736 1,088 1,345 2,929 5,086 618 482 1,272 194 2,979 410,252 753 944 5,299 6,346 2,308 838 4,785 262 3,892 12,301,280 134,989 128, 615 411,846 406,741 139,432 54,899 270,946 33,413 407,996 137,498 5,101 4,381 13,837 21,541 4,204 2,684 12,059 1,293 9,037 992,866 3,484 4,944 52,270 34,897 6,924 2,489 20,127 920 45,049 102,901 12,893 12,047 36,918 43,443 11,735 4,225 18,157 3,218 34,479 177,115 2,597 1,958 4,736 1,841 903 410 1,312 171 918 31 156 334 6,579 39 164 534 62 754 74,137 25,427 5,277 4,768 57,654 1,307 1,752 616 945 72, 319 2,793 622 385 2,985 58 193 59 31 39,951 9,439 2,998 35,358 1,984 2,192 1,197 652 171,104 28, 911 17, 782 210,839 2,564 13,320 1,587 1,787 22,906 4,597 3,265 34,283 975 1,097 939 1,106 1,988,877 414, 675 263,087 3,043,928 78,413 119,877 37,052 69,005 4, 653 2,672 265 22,470 121 30 95 118 15, 993 1,648 1,558 11,246 802 837 19 299 14,846 1,814 2,556 30,647 1,031 1,338 233 440 8,653 5,073 1,152 73,454 1,378 17,521 281 744 4,333 3 9 53,820 59 442 276,790 46,262 82 464 653 157 25, 771 16,409 38,059 410 1,514 234 10 373 317 2,758 118 99,603 10 5,949 4,239 31,278 1,356 4,026,037 11, 653 79,214 37,990 66,231 195,088 2,158 383 3,193 41,476 1,119,943 51,132,554 194,024 228,127 601,381 1, 573, 689 538,990 195, 514 44 451 384, 632 312 1,119,943 18,239, 353 12, 936,590 8,077,099 1, 661, 803 10,094,485 123,224 51,132,554 139, 843 5,085 120, 024 53, 360 562 48, 534 1,401 52, 951 391 228,127 248,018 214,535 568 2,270 123, 892 12,098 477, 967 460,965 13,107 3,989 611,327 6,334 1, 573, 689 31,555 20,702 192,209 6,562 11,598 3,262 5,117 271,005 13,863 8,237 118,885 2,308 6,138 1,189 2,560 153,180 840 8,338 7,279 12,768 29, 225 329 5,078 2,222 4,150 11,779 7,018 12 501 39 1,619 4,969 9,370 15,997 3,376,498 3,764,527 1,131,206 70,326 650,946 4,289,337 1,256,945 735,949 782,927 46,554 932,337 9,815 508,421 270,096 137, 332 18,030 195, 617 1,710 1,131,206 356 2,689 859 3,114 RECAPITULATION National banks. _ State (commercial) banks. Mutual savings banks Stock savings banks Trust companies _. Private banks__ Grand total 1 69,144 745,647 9,447 3,376,498 Reported separately by national banks only. 3,764,527 70,326 70,326 650,946 650, 946 2,856,937 614, 807 108 11,334 805,334 817 4,289,337 194,024 601,381 Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June, 1927—Continued [In thousands of dollars] Investments Loans and discounts States and Territories, etc. Maine New Hampshire. Vermont Massachusetts. - Rhode Island Connecticut Total New England States.--1 New York New Jersey Pennsylvania Delaware Maryland District of Columbia. Total Eastern States. Virginia— _ West Virginia... North Carolina. South Carolina.. Georgia Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky _ Tennessee Total Southern States... On On On time, demand, demand, secured by On time, secured by not not collateral secured other than secured by collateral collateral by colother than real estate lateral real estate 12,878 9,831 5,078 240,402 I 19,296 49,623 Secured by farm land Secured by other real estate Not classified United States Government securities 11,464 7,381 3,174 393,997 9,313 30, 635 25,666 26,197 5,258 267, 259 36,476 127,315 47,476 44,335 38,812 234,304 84,629 67,986 369, 563 455, 964 488,171 517,542 892,995 616,485 144, 265 552,938 5,699 129,477 127,574 179,044 7,023 23,710 1,701 468,529 196,937 209,199 502,954 12,521 77,254 7,193 1,006,058 129,780 92,212 305,215 11,531 55,547 8,214 602,499 3,427,376 217,360 729,937 16,454 87,196 19,020 4,497,343 5,755 1,011 6,720 3,575 3,761 46,259 7,183 33,129 1,727 20,065 4,005 2,532 3,212 2,697 2,074 68 410 1,035 2,629 13,314 402 105 4,166 193 6,070 775 1,878 3,132 109 1,005 1,168 2,044 1,888 552 81 3,575 140 5,337 1,200 138,934 33,938 22,109 37,952 35,380 10,718 15,875 21,952 23,952 9,334 7,444 44,768 35,881 9,785 53,714 26,456 333,011 11,790 4,070 4,153 271,314 46,905 42,565 34,271 17,958 17,367 538,825 78,602 72,013 1,261 348 1,198 1,985 102 387 6,887 85,457 92,739 1,355,495 121,455 417,565 337,108 931,920 279,968 818,776 24,264 100,890 62,102 2, 217,920 138,089 93,851 81,114 267,736 4, 613 29, 861 5,985 483,160 380,797 759,036 5,281 2,079, 598 631,613 97,081 411,006 9,281 62,019 20,238 1,229,632 585,882 1,041,070 18,600 158,844 63, 597 8,023 3,342 20,846 2,656 7,717 199 62,374 404,592 577,343 18,992 14,662 29,641 7,193,069 12,644 3,364 1,231,238 42,783 7,277,197 17,780 7,967 4,480 6,606 23, 793 24,184 5,551 818 5,816 72,105 6,661 20,139 13,212 8,537 4,510 2,631 3,050 4,894 4,180 4,385 538 6/281 30,567 983 11,243 4,026 74,052 31,342 34,636 24,403 52,971 36,971 38,233 18,240 19,854 296,014 16,822 40,403 41,452 3,097,625 150,838 76,865 78,756 35,860 77,221 56,530 62,607 24,378 40,549 288,746 27,014 92,894 98,042 1,107,604 5.812 872 2,509 3,463 5,480 1,636 4,071 3,186 3,616 25,181 3,795 5,806 3,678 9,431 8,620 3,479 2,904 6,391 10,293 3,828 3,936 2,089 22,744 25,820 5,828 4,443 191,040 169,537 216,012 67,508 126,891 144,528 102,859 106,490 252,573 19,109 89,128 195,691 168,430 .1,411,333 30,998 23,883 27,787 15,808 26,438 48,630 18,589 9,827 19,321 123,148 14,201 39,363 17,477 209,112 85,825 725,393 1,110,300 69,105 109,806 1,849,796 415,470 161,628 550,050 68,041 79 Railroad bonds 36,800 28,463 14, 654 150,372 66,947 72,327 9,732 6,172 6,324 88,734 7,954 19,173 119,223 16,147 28,142 224,910 State, county, and municipal bonds Bonds of other public Other service bonds, corporations stocks, (including warrants, street and etc. interurban railway bonds) 23,563 92,345 36,102 18,648 578,454 41,813 125,633 Ohio Indiana _. Illinois Michigan Wisconsin ._ >_ Minnesota Iowa » _ Missouri Total Middle Western StatesNorth Dakota South Dakota __. Nebraska Kansas Montana Wyoming Colorado . _ New Mexico Oklahoma Total Western States Washington Oregon California _>_ Idaho Utah Nevada Arizona Total Pacific States Alaska The Territory of Hawaii _ Porto Rico Philippines Total Alaska and insular possessions Total United States, Alaska, and insular possessions 86,056 11,989 255,342 40,252 20,338 56,905 12,844 67,340 551,066 1,124 933 13,393 155,759 11, 772 982 10,567 1,160 20,273 222,117 2,343 865 15,575 6,161 7,048 528 4,838 802 7,440 815,368 93,384 21,717 48,145 94,767 47,911 26,529 12,696 78,733 8,741 83,712 1,420,048 14,398 29,093 142,805 59,782 21,810 5,740 51,800 6,586 75,233 600,437 11,696 305,261 104,618 9,790 9,016 6,693 8,223 1,055,734 7,455 10,449 27,273 7,449 2,266 1,160 4,811 1,290 5,187 1,926 1,173 8,427 33,346 5,939 721 8,178 1,472 5,405 215,963 14,218 14,743 88,183 1,269 7,102 8,302 6,454 45,600 6,534 12,055 73,335 511 2,095 2,937 520 422,951 407,247 66,587 2,500 1,816 994,256 623 25,104 3,765 6,955 158,718 107,728 58,377 509,993 18,954 9,221 175 843 79,027 80,066 46,564 368,536 13,170 32,114 2,911 12,264 67, 340 3,540 3,416 73,112 2,611 6,714 3,850 3,830 211,286 46,235 23,598 204,821 10,586 28,955 5,884 11,524 49,050 36,491 357,473 7,072 8,217 2,786 9,747 140,271 97,987 | 522 7,206 6,372 1,056 331,603 174 10,860 10,359 1,983 555,625 97,073 8 274 1,919 74 1,035,019 705,291 1,037 12,357 2,671 2,762 2,780 14,328 1,570 28, 602 470,836 1,712 4,443 1,699 333 22,070 14,773 95,917 2,325 5,049 1,655 3,027 144,816 542 3,425 774 165 116 7,966 2,702 1,695 12,479 58,461 I 9,577 64,495 1 5,232 16,668 28,224 11,224 28,236 15,156 3,683,919 1,087,934 79,850 46,658 2S0.fil8 116,967 60,855 80,946 50,645 128,829 195,618 145,132 443,893 144,044 138,294 120,549 97,644 134,874 12,801 10,525 16,084 6,957 7,337 17,024 18,861 3,795 1,027 2,164 16,029 1,477 907,591 437,534 1,364,791 496,555 379,491 234,359 418,526 519,626 207,946 68,984 324,037 47,144 65,724 110,098 62,230 56,610 145,623 8,940 181,554 28,744 13,547 22,767 7,986 22,403 15,176 8,655 19,120 7,462 7,229 19,870 3,791 11,979 4,758,473 50,744 942,772 9,981 15,269 23,026 32,392 18,632 5,871 42,642 8,013 55,460 431,464 2,002 3,505 7,990 20,636 2,313 1,174 15,272 811 25,324 93,281 35,686 614 8,087 15,472 274 190 47,651 316,471 105,464 399,633 811,445 164,817 185,754 96,375 251,170 917 786 5,427 570 1,260 406 5,633 349 768 14,486 15,094 38,622 14,831 20,144 11,326 10,099 8,136 132, 738 2,180 1,528 7,377 825 1,740 511 6,356 145 1,036 2,331,129 14,085 7,883 19,994 28,236 22,472 6,390 26,779 2,199 42,672 16,116 8,515 3,401 5,573 117 1,659 138 519 21,698 6,109 3,302 18,620 518 2,219 268 1,269 170,710 57,895 34,135 337,936 15,409 12,031 2,997 4,654 19,922 32,305 472 2,740 220 84 465,057 430 673 79 564 1,725 11,657 1,869 4,871 23,376 20,697 2,275 18,827 47,280 8,187 4,906 1,746 3,516 20,122 3,930,726 7,370,578 377,241 5,473,175 15,346,805 3,829,447 1,723,640 1,659,232 1,332,407 8,710,367 RECAPITULATION National banks State (commercial) banks__ Mutual savings banks Stock savings banks Trust companies Private banks Grand total 2,566,471 247,380 21,393 9,905 837,559 1,211 356,851 5,087 6,125,942 335,225 8,971 12,615 882,505 5,320 305,209 48,737 441 3,367 15,686 3,801 757,316 1, 036,418 1,897,472 757,950 1,016,176 7,843 118,680 7,508,810 3,125,200 355,119 4,172,365 66,631 2,596,178 529,731 220,841 108,421 371,032 3,244 743,539 286,401 458,015 22,824 211,205 1,656 656,690 65,810 652,014 13,968 270,175 575 3,930,726 7,370,578 377,241 5,473,175 15,346,805 3,829,447 1,723,640 1,659,232 821,795 65,626 3,260,283 292,719 11,118 198,428 1,000 1,087,934 648, 767 60,945 374,937 3,042 243,741 975 1,748,044 2,448,325 1, 817,543 271,548 2,402,692 22,215 1,332,407 8,710,367 Assets and liabilities of all reporting banks in the United States, Alaska, and insular possessions June, 1927—Continued fin thousands of dollars] Demand deposits Cash States and Territories, etc. Maine New Hampshire Vermont Massachusetts Rhode Island Connecticut Gold coin Total New England States. New York New Jersey Pennsylvania Delaware _ Maryland District of Columbia Savings de- State, classiIndividual Demand State, county, Postal notfied DiviOther Silver Paper Nickels Cash not deposits cluding certifi- county, dends demand or other savings and coin currency cents classified subject to cates of or other unpaid deposits time cer- municipal tificates of deposits deposits check deposit municipal deposit 147 165 94 1,269 447 817 1,584 1,491 894 14,285 7,898 12,996 2,306 2,939 39,148 1,141 1,587 5,618 79 464 96 3,626 116,151 2,148 35,576 7,021 87,288 141 1,672 670 9,879 246 5,333 375 499 15 263 116 13,852 255,899 1,268 97 81 60 434 710 924 _ Total Eastern States 353 173 164 143 355 168 322 250 340 1,543 321 237 217 588 329 411 565 1,334 470 477 815 1,215 4,522 816 493 438 4,711 3,534 3,252 4,205 6,935 5,049 4,185 4,376 7,486 23,633 4,813 3,584 Total Southern States.-.-. 4,586 12,473 79,450 Ohio.-——— Indiana -__-_.-»-_-.-__.---.--- 598 901 1,408 1,048 14,694 9,370 Virginia West Virginia North Carolina South Carolina Georgia Florida Alabama Mississippi Louisiana Texas Arkansas _ Kentucky Tennessee , - Time deposits 3,805 821 1,300 17,233 11 185 128 183 27,257 1,059,964 126,811 264,982 1,746 960 15,605 7,286 14,041 18 417 4,354 13,386 4,625 10 845 64 42,838 55 6,789 297,908 213,218 193,126 2,443,879 349, 640 794,513 85 120 .... 287 9 57 3,606 447 449 23,355 1, 595, 290 42, 734 50, 601 4, 292, 284 6,178, 806 791, 660 2, 051, 775 50,305 278, 615 138,491 41,906 20,125 27,396 97 878 815 125,289 13,191 452,392 54, 634 4,221 3,801 47,247 14, 750 17, 645 222 7,852 4 8,469 1,247 222 414 1,272 5,061 6, 523,446 1, 223,172 2, 532, 232 55,984 435, 557 90,438 17, 974 21, 560 3,589 1,848 5,879 9,900 105 13 102 1, 574 333 500 33, 626 r — 4,506 5,413 7,642 9,489, 652 91,217 244, 763 34, 045 479,125 10, 860,829 29, 529 33, 848 103 188,779 170, 541 158,301 70,928 158,085 208,340 144,208 83,744 216,494 614,504 10,616 2,910 6,909 787 6,248 1,844 1,958 321 1,924 10,928 46,823 4,676 109,252 209,134 665 83,523 2,425,590 55,145 15,427 18,175 513 203 285 2,473 153 33,390 236 9,899 4,461 183 79,280 4,938 3,760 30,109 5,221 2,846 19,722 2,940 31,517 4,533 71,580 21,260 1,541 1,380 2,213 1,113 779 402 688 490 455 248 906 1,820 186 648 407 154 2,292 2,815 100 6,253 9,388 285 270 14,437 5,959 1,671 435 178 243,655 161, 642 156,586 91,366 139,029 159,889 105,408 97,198 129,241 183,624 72,776 90,142 171,734 52,945 201,347 10,355 44,237 851,526 33,776 371,426 112,237 198,389 20,649 1,334 1,362 22,230 751 4,937 5,576 504,480 "~4,~683 509.163 24,113 24, 972 1,292 306 1,117 5,220 472 14,538 1,103 3,197 1,330 10,163 224 78 1,160 176 286 151 774 785 3,398 242 240 158 2,233 348 181 219 1,802,290 40,200 9,191 223,752 1,404,126 296,500 24,989 1,051 598 18,824 1,418 870 221,464 Illinois Michigan Wisconsin Minnesota Iowa Missouri -__.____-.__ . TotaJ Middle Western States. North Dakota South Dakota Nebraska Kansas Montana Wyoming Colorado __„._ New Mexico Oklahoma . .... , . ., _ „__ Total Western States 2 16,264 12,883 16, 528 1,771,928 599,463 325,135 295, 650 301,267 726,515 78,088 74, 599 27,431 8,424 12,644 10,930 96,947 26,127 12,822 34,268 3,368 10, 653 7,054 2,773 1,266 890 238 563 1,954 75,212 496 11,499 951 349 1,452,879 1,000,518 510,846 521,882 486,858 394,292 10,207 3,472 2,243 2,947 2 2, 443 3,561 1,650 912 5,766 6,882 1,951 220 141, 626 5,242,910 358,129 403,223 15,480 113,442 6,067,901 47,285 22,369 30,541 2,216 1,927 3,787 3,776 3,560 12, 763 17,992 2,947 1,239 4,874 1,276 5,053 3,348 11,303 23,112 46,166 16,115 4,355 10, 528 5,558 44,061 24 35 176 480 75 58 295 21 306 607 728 150 1,699 218 23 2,174 56 1,093 78,928 63,005 198,703 120,292 57, 615 21,408 105,376 7,582 72,988 1,280 634 711 585 1 9 1,874 274 8,728 961 2,782 384 2,138 5,426 1,201 3,566 904 3,668 315 2,539 45,750 46,568 175,847 216,948 57,035 26,606 142,259 17,643 191,336 99 80, 763 26 11,307 919, 992 53,480 164, 546 1,470 6,748 725,897 14,096 21,030 81,618 15 4,084 3,920 28,187 1,130 1 9 2 156,586 114, 553 1, 000, 378 34, 056 46,324 14,956 37,586 3,282 4,059 7,936 1,601 945 264 124 52,255 26, 707 160,389 11,841 4,228 945 1,914 532 334 3,047 68 197 37 38 1,202 1,384 8,480 229 781 417 49 194,714 113, 541 1, 764, 752 28,140 66,038 19,587 26,289 920 302 93,603 126 940 276 1, 744 5,184 2,207 5,343 2,352 424 300 1,048 270 213 29,941 24 37,324 1, 404,439 18,211 258,279 4,253 12,542 2,213,061 97, 911 16,858 483 727 2,994 2,715 5,148 1 2 58 16 127 24 6,858 5,427 26, 793 16, 662 17,393 193 1,873 217 1,115 967 8,304 4,641 13 123 64 1 14 3,403 1,031 5,052 4,544 34,470 13,388 17,337 1,543 1,656 495 19 139 3,010 2,686 192 22,323 4,292 11, 584 77 7,009 66, 275 3,398 13, 912 201 9,500 69,739 3,199 3,663 25,201 35,189 61,471 571,540 1,926 337,770 21,144,148 620,114 1,304,245 70,429 716,195 26,032,001 237,157 112,535 895,730 17,121 10, 299 1,166 1,999 4,563 41 37,743 19,317 122 9 4,182 98 309,340 142,140 4,031 1,279 113, 502 1,248 643 26 74 1,172 11 241, 340 25,867 20,331 48,433 1,799 9, 787, 513 5,743, 936 7,909 122, 744 5,439,858 42,188 200, 756 69, 677 79,160 116,005 2,866 36, 550 12.886 610 66 20, 304 13 166 437,197 8,399 7,013,662 6,091,054 8,054,868 1,453,035 3,366,737 ,52, 645 35,189 61,471 571, 540 1,926 337, 770 21,144,148 620,114 1,304,245 70,429 716,195 26, 032, 001 3,525 394 1,639 381 504 352 6,165 806 1,842 1,016 994 793 55,944 7,491 14,779 7,507 6,572 5,434 8,294 14,072 121,791 77 72 973 881 311 97 1,681 67 231 318 281 1,675 2,834 537 141 1,057 200 1,036 1,200 1,303 5,701 8,434 3,678 1,010 5,745 1,131 5,525 4,390 8,079 33, 727 337 364 4,366 73 348 163 185 1,031 593 2,914 220 380 163 463 4,760 2,785 16,422 948 1,242 1,253 2,531 5,836 5,764 155 87 276 274 73 376 441 3,402 792 5 213 25,379 21 18 820 5 642 8,717 2,358 441 • Washington Oregon California Idaho Utah Nevada Arizona Total Pacific States .._ Alaska The Territory of Hawaii Porto Rico Philippines.„ _.. Total Alaska and insular possessions _ Total United States, Alaska, and insular possessions. __ RE CAPITULATION National banks State (commercial) banks . Mutual savings banks Stock savings banks Trust companies Private banks _ Grand total 205,075 257, 697 470 3,664 141,806 11,402 693,835 412, 379 224,848 4,471 114 201 7,523 77,114 15,480 2,757 17,181 3 329,010 13,128 10 547,874 5,708 237,157 112,535 895, 730 112 REPORT OF THE COMPTROLLER OF THE CURRENCY INDIVIDUAL DEPOSITS I N ALL REPORTING BANKS The total individual deposits in all reporting banks, including demand, time, public funds, dividends unpaid and postal savings, but exclusive of United States deposits, were $51,132,554,000 on June 30, 1927, showing an increase in the year of $2,250,258,000. Individual deposits subject to check showed an increase of $2,935,526,000; demand certificates of deposit an increase of $47,381,000; dividends unpaid an increase of $14,768,000, and savings deposits, including time certificates, an increase of $1,870,448,000. Postalsavings deposits also were greater by $7,004,000 in the current year. Classification of deposits of each class of reporting banks follows: Individual deposits in each class of banks June 80, 1927 [In thousands of dollars] Demand deposits State, Individual Demand county, or Number deposits certifiother muof banks subject to cates of nicipal check deposit deposits State (commercial) banks Loan and trust companies Stock savings banks JWiitjiJvi sowings bflnkp Private banks" _ Total National banks Grand total 5,743,936 5,439,858 122,744 7,909 42,188 257,697 141,806 3,664 470 11,402 412,379 116,005 79,160 19,265 11,356,635 7,796 9, 787,513 27,061 21,144,148 415,039 205, 075 620,114 15,690 1,647 843 618 467 Dividends unpaid Other demand deposits 69,677 437,197 166 2,866 12,886 20,304 66 610 13 610,410 693, 835 33,879 36,550 515,439 200,756 1,304,245 70,429 716,195 8,399 Time deposits State (commercial) banks Loan and trust companies Stock savings banks Mutual savings banks Private banks Total National banks Grand total _ ~- ._ - Savings deposits i State, county, or other municipal deposits Postal savings deposits 6,091,054 3,366,737 1,453,035 8,054,868 52,645 4,471 7,523 201 114 15,480 17,181 2,757 19,018,339 7,013,662 12,309 224,848 26, 032,001 237,157 Deposits not classified 329,010 547,874 10 13,128 5,708 12,936,590 10,094,485 1,661,803 8,077,099 123,224 35,421 77,114 895,730 32,893,201 18,239,353 112,535 895,730 51,132,554 3 i Includes time certificates of deposits and items reported as " Other time deposits." Total REPORT OF THE COMPTROLLER OF THE CURRENCY 113 RESOURCES AND LIABILITIES OF ALL REPORTING BANKS, J U N E 3 0, 1 9 2 3 - 1 9 2 7 The principal items of resources and liabilities of all reporting banks for the five years 1923 to 1927 are shown in the following statement: [In thousands of dollars] 1923 (30,178 1924 (29,348 1925 (28,841 1926 (28,146 1927 (27,061 banks) banks) banks) banks) banks) Classification RESOURCES Loans and discounts (including rediscounts) Overdrafts Investments Real estate, furniture, etc. 1 Due from other banks and bankers' Checks and other cash items 3 Cash on hand 4 Other resources Total- 30,416,577 31,427,717 33,883,733 36,233,490 57,982 56,334 50,259 49,470 13,672,547 14,228,745 15,400,113 15,815,141 1,432.217 1,590,259 1,736,585 1,851,967 5,597,150 6,121,093 6,774,392 6,769,061 1,196,075 1,992,370 2,181,137 2,037,561 797,101 911,500 951,286 996,520 865, 262 1,140,152 816,672 1,079,532 s'034,911 i 57,144,690 Capital stock paid in 3,052,367 3,114,203 2,799,494 2,967,359 Surplus fund 954,145 Undivided profits 971,730 Reserved for taxes, interest, etc., accrued 5_. 720,001 Circulation (national banks) 729, 686 3,610, 211 3,928,292 Due to other banks and bankers 358,110 664,857 Certified checks and cashiers' checks 40,034,195 42,954,121 Individual deposits 238,439 152,302 United States deposits 2,267,949 1, 662,140 Other liabilities 6 Total.. 62,057,037 37,270,378 43,450 17,255,093 1,979,578 6,900,402 2,181,167 1,007,896 1,494,594 64,893,362 68,132,558 3,169,711 3,273,303 3,173,334 3,471,968 1,007,439 1,063,171 60,078 64,618 648,494 651,155 4,370,909 4,330,605 698, 861 655,649 46,765,942 48,882,296 147,220 187,827 2,015,049 2,312,770 3,376,498 3,764,527 1,131,206 70,326 650,946 4,289,337 1,119,943 51,132,554 194,024 2,403,197 64,893,362 68,132,558 54,034, 911 57,144, 690 62,057,037 1 Includes banking house and other real estate owned. 2 Includes lawful reserve with Federal reserve banks. * Includes exchanges for clearing house. * Includes acceptances reported by national banks. « Reported separately by national banks only. * Includes bills payable and rediscounts. Principal items of resources and liabilities of all reporting banks in continental United States, as compared with similar data from reporting member banks oj the Federal reserve system, on or about June SO, 1927 Member banks Items Loans 3 Investments Cash .___._. Capital Surplus and undivided profits. Deposits (individual) Aggregate resources Per cent All reportto all reing banks: J 26,994 Per cent porting 9,099 banks (000 banks to all re- banks,i (000 except omitted) porting omitted) banks 1 mutual savings and private Mutual Private2 savings banks: banks: * 467 618 banks (000 banks omit(000 omitted) ted) $37,155, 252 $23,148, 726 17,216,616 9,818,274 984,142 537,856 3,347,273 2,273, 737 4,876, 936 2,873, 661 50, 937,466 29,945,078 67,824, 372 42, 810,192 $5,064,595 3,523, 350 31,212 * Exclusive of banks in Alaska and insular possessions. * Included in all reporting banks in column 1. »Including overdrafts. 62.30 57.03 54.65 67.93 58.92 58.79 63.12 72.34 71.85 56.63 68.12 72.84 70.07 72.99 920,259 8,077,099 9,011,185 $91,310 28,665 3,197 9,447 11,525 123,224 164,148 114 BEPORT OF THE COMPTROLLER OF THE CURRENCY CASH IN ALL REPORTING BANKS The total cash holdings of all banks June 30, 1927, including the 12 Federal reserve banks, amounted to $4,247,814,000, which was an increase of $223,133,000 in the year. Of this total $364,204,000, or 8.57 per cent, was held by 7,796 national banks; $643,692,000, or 15.15 per cent, by 19,265 banks other than national, and the remainder, $3,239,918,000, by the 12 Federal reserve banks. Classification of cash in banks follows: Cash in banks June 80> 1927 [In thousands of dollars] Classification Gold coin Gold certificates Silver coin Silver certificates Legal-tender notes National-bank notes—. Federal reserve notesfi . Nickels and cents Cash not classified ' _ _ Total — Cash in Federal reserve banks June 30,1927: Gold coin and certificates (reserve) Reserves other than gold . Nonreserve cash 7,796 national banks 19,265 State, etc., banks 18,068 17,121 2 47,816 23,728 8 37, 556 30,125 27,276 67,987 * 262,200 136, 323 1,926 337,770 364,204 643,692 35,189 47,816 61,284 30,125 27,276 330,187 136,323 1,926 337,770 1,007,896 3,020,510 163,299 56,109 4,247,814 Grand total * Number of banks includes 12 Federal reserve banks. * Includes clearing-house certificates. «Includes nickels and cents. Total, 27,073 banksi «All paper money. ' Includes Federal reserve bank notes. RESOURCES AND L I A B I L I T I E S OF ALL REPORTING B A N K S J U N E FIVE-YEAR PERIOD, 1 8 9 0 - 1 9 2 5 3 0 , EACH In the summaries following are shown the resources and liabilities of banks other than national, national banks, and combined figures for all reporting banks in the United States, on or about June 30, each five-year period, 1890 to 1925, inclusive. These summaries are supplemented by tables, according to States, appearing in the appendix of this report, showing the resources and liabilities of State and national banks as of the dates for which available figures have been previously published in each of the comptroller 's annual reports for the years mentioned. Resources and liabilities of all reporting State banks on or about June 80, each five years, 1890 to 1925, inclusive [Includes State (commercial), savings and private banks, and loan and trust companies] [In thousands of dollars] 1920 1925 1900 1915 1890 1895 1905 1910 (4,704 banks) (6,103 banks) (6,650 banks) (10,742 banks) i (15,950 banks) (19,457 banks) (22,109 banks) (20,769 banks) RESOURCES Loans and discounts (including rediscounts). Overdrafts _ Investments _ Banking house, furniture and fixtures Other real estate 2owned Due from banks Checks and other cash items Exchanges for clearing house Cash on hand Other resources Total. 1,905,675 8,243 861, 731 84,562 0) 5,072,088 25,673 2, 748,448 230,724 3,001,680 11,770 1,723,830 166,752 2,245,411 6,872 1,118,159 120, 763 0) 17,171,091 92,705 7, 201,060 503,197 92,825 2, 712,040 450,257 83, 695 626,027 734, 958 21,033,083 40,907 558, 356 151,190 9,062,469 31,059 3,813, 563 359, 016 112, 612 1,644, 965 32,349 94,240 599, 945 258, 227 16,008,445 29,667,855 37, 706,174 7,029,269 3, 111, 410 237, 705 100,063 1,191, 401 109,631 0) 0) 320,721 (3) 227,743 99,322 582,032 52,997 220,667 81,931 974,930 77,455 314, 248 146,835 4,138,991 5,841,659 9, 590,401 12, 553,696 329,580 230,120 61,885 45,799 422,053 293,265 77,132 73,871 404,473 390,859 98,516 109,570 671, 599 640,185 184,058 357,192 2,548,990 3,185,871 4, 781,918 7, 568,154 890,377 903, 060 191,136 325, 245 103, 019 9,898,873 2,594,789 3, 259, 742 '~4~891,"488~ "7," 925," 346" 206,913 (3) 185,790 35,395 3,288,309 I 815,832 224,295 3,480, 607 803,933 i n o 591,681 807,501 LIABILITIES Capital stock paid in Surplus _ Undivided profits..... Due to banks Certified checks and cashiers' checks Individual deposits (including dividends unpaid). United States deposits _._ Total deposits Notes and bills rediscounted Bills payable Other liabilities Total. i I n c l u d e d in banking house, furniture and fixtures. 71,935 86,799 56,323 169,213 10,327,137 13,099 70, 644 158, 243 4,138,991 5,841,659 9, 590,401 12, 553, 696 s Includes lawful reserve. 3 Included in cash on hand. 1,094,322 1,800,276 1,478,473 1, 010,829 1,423, 962 2,054,406 325, 022 429,473 525, 728 864,282 575, 306 1,484, 509 84,574 93, 365 138, 605 i 12, 541, 757 * 23, 609, 798 * 30,411,030 39,119 32,073, 263 13,210,428 i 24,558, 654 284,746 19,533 94,025 794, 046 108, 562 352, 270 698, 501 239, 749 806,206 16,008,445 29, 667,855 * Includes postal savings. O 37, 706,174 3 o Resources and liabilities of national banks on or about June SO, each five years, 1890 to 1925, inclusive [In thousands of dollars] 1915 1925 1905 1910 1920 1890 1895 1900 (3,484 banks) (3,715 banks) (3,732 banks) (5,668 banks) (7,145 banks) (7,605 banks) (8,030 banks) (8,072 banks) EESOUECES Loans and discounts (including rediscounts) Overdrafts __ Investments (including premiums on bonds) Banking house (including furniture and fixtures). Other real estate owned. _ Due from banks 2 Checks and other cash items Exchanges for clearing house _ Cash on hand Other resources Total. 1,933,509 0) 310,698 64,180 11,478 325,341 13,875 293,063 21,389 2,004,476 12,164 447,171 77,857 25,082 393,728 14,037,051 16,481 4,186,465 359,994 44,960 3,121,201 157,611 766,215 450,351 270,924 12,850,650 9,352 5,730,444 585,267 111, 191 3,293,785 150, 244 11,795,685 23,411,253 24,350,863 989,567 644,857 222,224 1,068,519 722,089 314,755 1,224,166 722,704 2,208,006 136,128 3 6,428,144 48,964 8,821,242 12,633 27,365 3,784,987 75,298 5,407,454 5,591 21,574 40,873 675,633 1,900,136 216,694 5,085,667 54,541 7,257,038 14,019 55,683 37,604 58,201 48,256 411,525 61,718 688,178 2,844,020 430,288 313,705,325 175,788 17,155,421 1,214,516 991, 552 677,793 1,369,435 1,118,928 481,711 60,078 648,494 2,886,400 560,256 3 16,354,912 108,101 19,909,669 233,874 245,107 283,567 4,944,166 7,327,806 9,896,625 11, 795, 685 23,411, 253 24,350,863 3,899,170 30,367 1,239,463 130,006 20,155 1,007,028 28,112 267,856 358,038 55,570 2,623,512 20,725 774,551 80,224 27,180 690,743 22,561 159,190 526,079 19,401 3,061,771 3,470,553 4,944,166 7,327,806 642,074 212,615 79,855 247,782 81,222 621,537 256,249 135,298 791,567 413,436 201,855 126,324 423,602 178,816 526,673 1,062,904 445,456 1,547,169 1,524,590 30,578 1,978,770 15,028 7,028 77 1,739,052 13,167 2,278,892 2,459,766 98,872 3,621,542 12,251 3,061, 771 3,470,553 25,761 5,430,159 25,743 1,611,960 214,820 21,644 1,201,607 54,151 428,654 865,453 42,434 6,659,971 5,174 2,068,369 277,805 43,972 1, 588,978 37,280 213,006 857,757 43,373 359,605 272,031 LIABILITIES Capital stock paid in Surplus _ Undivided profits _ Reserved for taxes, interest, etc., accrued National-bank circulation Due to all banks _ Certified checks and cashiers' checks Individual deposits (including dividends unpaid). United States deposits Total deposits _ Notes and bills rediscounted Bills payable Other liabilities. Total. 1 $12,151,000 included in*loans and discounts. * Includes lawful reserve. 8 Includes postal savings. i Resources and liabilities of all reporting banks on or about June SO, each five years, 1890 to 1925, inclusive [Includes national, State (commercial), savings and private banks, and loan and trust companies] [In thousands of dollars] 1925 1915 1920 1890 1910 1900 1905 1895 (8,188 banks) (9,818 banks) (10,382 banks) (16,410 banks) (23,095 banks) (27,062 banks) (30,139 banks) (28,841 banks) RESOURCES Loans and discounts (including rediscounts) Overdrafts Investments Real estate owned 2 (including furniture andfixtures)Due from banks3 Checks and other cash items . Exchanges for clearing house Cash on hand .___ Other resources _ Total- 585,781 154,892 5,625,192 32,495 2,498,381 274,156 1,272,775 75,558 159,190 746,746 101,332 8,971,258 56,040 3,987,911 380,885 1,981,958 105,567 267,856 994,136 172,596 12,459,428 62,381 4,723,370 574,232 2,393,008 163,782 456,687 1,423,809 193,624 15,722,440 36,233 5,881,932 793,405 3,233,943 69,629 307,246 1,457,702 301,600 31,208,142 109,186 11,387,525 1,000,976 5,833,241 607,868 849,910 1,076,378 1,005,882 33,883,733 50,259 15,400,113 1,736,585 6,774,392 954,177 1,226,960 951,286 1,079,532 6,350,080 7,609,544 10,785,825 16,918,207 22,450,321 27,804,130 53,079,108 62,057,037 971,654 442,735 141,740 1,080,277 541,047 158,354 1,026,010 647,108 233,814 1,463,166 1,053,621 385,913 1,879,944 1,547,917 413,360 2,162,841 1,732,918 639,777 126,324 469,401 178,816 600,544 1,172,474 445,456 1,904,361 4,073,580 30,578 4,573,559 15,028 7,028 72,012 4,924,923 13,167 5,538,634 9,698 12,251 90,467 7,241,684 98,872 8,513,030 4,239 12,633 83,688 11,353,141 75,298 13,332,800 5,591 21,574 210,086 675,633 2,225,381 319,713 14,984,540 54,541 17,584,175 27,118 126,327 195,847 722,704 2,783,312 229,493 4 18,969,901 48,964 22,031,670 59,452 166,763 288,005 2,702,639 2,410,346 840,998 61,718 688,178 3,708,302 514,862 4 37,315,123 175,788 41,714,075 1,499,262 1,785,598 1,376,294 3,169,711 3,173,334 1,007,439 60,078 648,494 4,370,909 698,861 4 46,765,942 147,220 51,982,932 327,899 597,377 1,089,773 6,350,080 7,609,544 10,785,825 16,918,207 22,450,321 27,804,130 53,079,108 62,057,037 !, 839,184 18,243 .,172,429 160,220 532,254 13,875 88,238 478,853 56,784 4,249,887 19,036 1,565,330 223,702 714,449 13,599 H3 W i LIABILITIES Capital stock paid in _ Surplus Undivided profits Reserved for taxes, interest, etc., accrued National bank circulation Due to all banks.. _ _ Certified checks and cashiers' checks Individual deposits (including dividends unpaid). United States deposits _ Total deposits _ _ Notes and bills rediscounted _.._ Bills payable Other liabilities Total. 1 $12,151,000 overdrafts reported by national banks included in loans. 2 Includes banking house. 8 Includes lawful reserve. 1 Includes postal savings. H3 W cj 118 BEPOBT OF THE COMPTROLLER OF THE CURRENCY MONEY IN THE UNITED STATES The total stock of coin and other money in the United States on June 30, 1927, aggregated $8,532,000,000, in comparison with a total of $8,373,000,000 on June 30, 1926. Of the total stock in the current year, $347,200,000, or 4.07 per cent, was coin and other money in the Treasury as assets; $985,100,000, or 11.55 per cent, was held by reporting banks; and $3,439,600,000, or 40.31 per cent, was held by Federal reserve banks.and agents. The remainder, $3,760,100,000, or 44.07 per cent was in general circulation. The per capita money in general circulation was $32.13, compared with $33.38 a year ago. Statements showing the stock of money in the United States in the years ended June 30,1914 to 1927; the classification of money in circulation July 1, 1927; and imports and exports of merchandise, gold, and silver in the calendar years 1914 to 1926 and the nine months ended September 30, 1927, follows: Stock of money in the United States, in the Treasury, in reporting banks, in Federal reserve banks, and in general circulation, years ended June 80, 1914 to 1927 ', Year ended June 30 Coin and other Coin and other Held by or for Coin and money in Treas- money in report- Federal reserve banks and other ing banks * ury as assets * agents 3 money in the United States Amount Per Amount Per Amount Per cent 1014 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 . Millions Millions 336.3 3,738.3 345.4 3,989.4 298.2 4,482.9 268.4 5,408.0 360.3 6,741.0 584.2 7,518. 8 489.7 7,894. 5 461.2 8,096.0 402.5 8,177. 5 383.5 8,603. 7 356.6 8, 746. 5 362.0 8,221. 2 350.1 8,373.0 347.2 8,532. 0 9.00 8.66 6.65 4.96 5.34 7.77 6.20 5.70 4.92 4.46 4.08 4.40 4.18 4.07 cent Millions 1,630. 0 1,447. 9 1,472.2 1,487. 3 882.7 981.3 1,047. 3 926.3 814.0 777.1 900.8 938.3 975.2 985.1 43.60 36.29 32.84 27.50 13.10 13.05 13.27 11.44 9.95 9.03 10.30 11.41 11.65 11.55 cent Millions 386.2 592.7 1,280. 9 2,018.4 2,167. 3 2,021.3 2,795. 2 3,401. 0 3,490. 8 3,635.1 3,122. 7 3,188. 2 3,439. 6 9.68 13.22 23.69 29.94 28.83 25.60 34.52 41.59 40.57 41.56 37.99 38.08 40.31 In general circulation, exclusive of amounts held by reporting banks and Federal reserve banks Amount Per cent Millions 1,772.0 1,809.9 2,119. 8 2,371.4 3,479.6 3, 786. 0 4,336,2 3,913.3 3,560.0 3,952.3 3,854. 0 3,798. 2 3,859. 5 3, 760.1 47.40 45.37 47.29 43.85 51.62 50.35 54.93 48.34 43.54 45.94 44.06 46.20 46.09 44.07 Per capita $17.89 17.97 20.69 22.77 32.87 35.67 40.47 36.21 32.44 35.52 34.20 33.29 33.38 32.13 * Public money in national-bank depositories to the credit of the Treasurer of the United States not included. * Money in banks of island possessions not included. 3 Includes gold reserve held by banks against issues and gold or other funds deposited by banks with agents to retire Federal reserve notes in circulation and own Federal reserve notes hold by Federal reserve banks. NOTE.—Population estimated at 107,155,000 in 1920,108,087,000 in 1921,109,743,000 in 1922,111,268,000 in 1923.. 112,686,000 in 1924, 114,104,000 in 1925- 115,614,000 in 1926, and 117,034,000 in 1927. Circulation statement of United States money July 1, 1927 to 82 Kind of money Gold coin and bullion co Gold certificates „ Standard silver dollars Silver certificates Treasury notes cf 1890 Subsidiary silver United States notes Federal reserve notes Federal reserve bank notes National-bank notes Total July 1,1927.. Comparative totals: June 1,1927_ July 1, 1926? Nov. 1,1920 Apr. 1, 1917 July 1,1914_ Jan. 1,1879 Stock of money i Total Money held in the Treasury Reserve Amount held in trust against Held for United Federal against gold States reserve and silver notes (and banks and certificates Treasury agents (and Treasury notes of notes of 1890) 1890) Money outside of the Treasury All other money Total Held by Federal reserve banks and agents l Amount '$4, 565,070,147 $3,650,974,055 $1,625,285,099 $155,420,721 $1,712,002,936 $158,265,299 $914,096, 092 $527, 635, 307| $386,460, 785 3(1,625,285,099) 1, 625,285,099 618, 203,910i 1, 007, 081,189 537,948,084 62,266, 733 13,121, 549! 475, 681,351 470,918,705 49,145,184 4,~762,~646 < (469,591,901) 93,801, 659j 469,591, 901 375, 790,242 < (1,326,804) 1,326,804 1,326,804 295,818, 732 5,347,024 5,347,024 290,471, 708 14, 738, 650 275, 733,058 346,681,016 3,235,483 343,445,533 51,245,380! 292, 200,153 3,235, 483 2,077,473,195 979,355 979,355 2,076,493,840 373,670,1981 1,702,823,642 4,854, 238 192,906 192,906 4, 661,332 55, 757| 4, 605,575 704,146,267 19,029,816 35,060, 515J 19,029, 816 685,116,451 650,055,936 8,531, 991, 679 > 4,155,439,990 2,096,203,804 155,420,721 1,712,002, € 6191,812, 529 6,472, 755,493 1, 727, 532, 925j 4, 745, 222,568 8,546, 745, 712 8,373, 660,229 8,326,338, 267 5,312,109, 272 3, 738, 288,871 1,007, 084, 483 « 4,157,958,128 fi 4, 207,918,206 5 2,406,801,772 5 2,942,998, 527 61, 843,452,323 5 212,420,402 2,082,395,385 2,139, 770,428 696,854,226 2,684,800,085 1,507,178,879 21, 602,640 Population of continental United States Per capita (estimated) In circulation 155,420, 721 1,722,946, 574 197,195,448 6, 471,182,969 1,685,211,481 4,785,971,488 154,188,886 1,717,348, 235 196, 610, 657 6, 305, 512,451 1,470,880, 3341 4, 834, 652,117 152,979,026 1,206,341,990 350,626,530 6, 616,390,721 987,962,989 5, 628,427,732 105,219,416 5,053,910,830 953,320,126 4,100,590,704 152,979,026 186, 273,444 3,402,015.427 3,402,015,427 150,000,000 90,817, 762 816, 266, 721 100,000,000 I 816,266,721 tel o o 40.58 116,943,000 40.97 41.85 52, 36 39. 54 34.35 16.92 116,824,000 115,523,000 107,491,000 103,716,000 99,027,000 48,231,000 1 Includes United States paper currency in circulation in foreign countries and the amount held by the Cuban agency of the Federal Reserve Bank of Atlanta. 23 Includes money held by the Cuban agency of the Federal Reserve Bank of Atlanta. Does not include gold bullion or foreign coin outside of vaults of the Treasury, Federal reserve banks, and Federal reserve agents. * These amounts are not included in the total since the money held in trust against gold and silver certificates and Treasury notes of 1890 is included under gold coin and bullion and standard silver dollars, respectively. 5 The amount of money held in trust against gold and silver certificates and Treasury notes of 1890 should be deducted from this total before combining it with total money outside of the Treasury to arrive at the stock of money in the United States. 6 This total includes $19,693,297 of notes in process of redemption, $139,124,060 of gold deposited for redemption of Federal reserve notes, $7,437,122 deposited for redemption of national-bank notes, $2,830 deposited for retirement of additional circulation (act of May 30, 1908), and $6,426,700 deposited as a reserve against postal savings deposits. 7 Revised figures. NOTE.—Gold certificates are secured dollar for dollar by gold held in the Treasury for their redemption; silver certificates are secured dollar for dollar by standard silver dollars held in the Treasury for their redemption; United States notes are secured by a gold reserve of $155,420,721 held in the Treasury. This reserve fund may also be used for the redemption of Treasury notes of 1890, which are also secured dollar for dollar by standard silver dollars held in the Treasury. Federal reserve notes are obligations of the United States and a first lien on all the assets of the issuing Federal reserve bank. Federal reserve notes are secured by the deposit with Federal reserve agents of a like amount of gold or of gold and such discounted or purchased paper as is eligible under the terms of the Federal reserve act. Federal reserve banks must maintain a gold reserve of at least 40 per cent, including the gold redemption fund which must be deposited with the United States Treasurer, against Federal reserve notes in actual circulation. Lawful money has been deposited with the Treasurer of the United States for retirement of all outstanding Federal reserve bank notes. National-bank notes are secured by United States bonds except where lawful money has been deposited with the Treasurer of the United States for their retirement. A 5 per cent fund is also maintained in lawful money with the Treasurer of the United States for the redemption of national-bank notes secured by Government bonds. 1 3 o j 120 KEPORT OF THE COMPTROLLER OF THE CURRENCY Imports and exports of merchandise, calendar years 1914 to 19186, inclusive, and from January 1 to September SO, 1927 Imports of merchandise 1914 . . 1916 1916 1917 1918 1919._ 1920 1921 1922 1923 1924 . . 1926 1926 1927 (9 months) Total, 13 years and 9 months Exports of merchandise Excess of exports over imports $1,789,276,001 $3,113,624,050 1,778,696,696 3,664,670,847 2,391,635,335 5,482,641,101 2,952,465,966 6,226,255,654 3,031,304,721 6,149,241,951 3,904,364,932 7,920,425,990 5,278,481,490 8,228,016,307 2,509,147,570 4,485,031,356 3,112,746,833 3,831,777,469 3,792,065,963 4,167,493,080 3,609,962,579 4,590,983,845 4,226,589,263 4,909,847,511 4,430,888,000 4,808,660,000 1 3,154,555,000 1 3,509,674,000 $1,324,348,049 1,776,074,162 3,091,005,766 3,273,789,699 3,117,937,230 4,016,061,058 2,949,634,817 1,975,883,786 719,030,636 375,427,117 981,021,266 683,268,248 377,772,000 1365,119,000 45,962,080,337 26,016,262,824 70,978,343,161 i 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 1926 1926 1927 (9 months) Total, 13 years and 9 months Exports Excess of exports over imports $67,387,741 451,964,590 686,990,234 662,454,374 62,042,748 76,634,046 417,068,273 691,248,297 275,169,786 322,716,812 319,720,918 128,273,172 213,604,000 192,957,000 $222,616,156 31,426,918 166,792,927 371,883,884 41,069,818 368,185,248 322,091,208 23,891,377 36,874,894 28,643,417 61,648,313 262,639,790 115, 708,000 57,637,000 $166,228,415 4,447,020,990 2,100,107,950 591,246,235 291,661,202 134,366,618 Excess of imports over exports $420,528,672 630,197,307 180,570,490 20,972,930 94,"977,066 667,366,920 238,294,891 294,072,395 258,072,605 97,796,000 135,320,000 2,938,159,275 SILVER 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 (9 months) -. Total, 13 years and 9 months. $26,959,187 34,483,954 32,263,289 53,340,477 71,375,699 89,410,018 88,060,041 63,242,671 70,806,653 74,453, 530 73,944,902 64,595,418 69,596,000 40,766,000 $51,603, 060 53,598,884 70,595,037 84,130, 876 252,846,464 239,021,051 113,616, 224 51,575,399 62,807,286 72,468,789 109,891,033 99,127,585 92,258, 000 56,849,000 $25,643,873 19,114,930 38,331,748 30,790, 399 181,470,765 149,611,033 25,566,183 852, 297,839 1,410,388,688 579,742,229 $11,667,272 7,999,367 1,984,741 36,946,131 34,532,167 22,662,000 16,083,000 21,651,380 REPORT OF THE COMPTROLLER OF THE CURRENCY 121 BANKS I N THE DISTRICT OF COLUMBIA On June 30, 1927, there were 65 banking associations in the District of Columbia, 13 of which were national, 7 loan and trust companies, 23 savings banks, and 22 building and loan associations. The aggregate assets in the current year were $369,013,000, compared to $351,438,000 on June 30, 1926. The combined capital of these associations was $24,451,000, an increase of $307,000 over the preceding year, and individual deposits of $285,211,000 were greater by $16,546,000. . . . . Classification of these institutions, with capital, individual deposits and aggregate resources, follows: Number National Loan and trust companies Savings banks Building and loan associations. Total. _. _ _ * Amounts due to banks not included. 13 23 22 65 Capital Individual deposits 1 $10,527,000 11,400,000 2,524,000 $121,384,000 79,822,000 36,118,000 a 47,887,000 $166,663,000 106,694,000 41,827,000 53,829,000 24,451,000 285,211,000 369,013,000 Aggregate assets * Share payments mainly. E A R N I N G S , E X P E N S E S , A N D DIVIDENDS OF B A N K S O T H E R T H A N I N T H E DISTRICT OF COLUMBIA NATIONAL On June 30, 1927, there were 7 trust companies and 23 savings banks in the District of Columbia, with combined capital of $13,924,000 and surplus of $9,956,000, compared with capital and surplus reported by the same number of associations on June 30, 1926, of $13,867,000 and $9,670,000, respectively. Dividends declared by these banks in the current year were $1,443,000, or $106,000 more than in the previous 12-month period. The gross earnings totaled $8,841,000, an increase of $43,000, and expenses paid were $6,220,000, or $266,000 more than last year. Deducting from the gross earnings the amount of expenses paid the associations showed net earnings in the period of $2,621,000, excluding $140,000 recovered on assets previously charged off. Losses and depreciation charged off in the year were $552,000, against a total of $548,000 the year previous. The aggregate of net earnings and recoveries in the year, $2,761,000, less the losses and depreciation charged off, resulted in a net addition to profits of $2,209,000, and showed a decrease in this item of $216,000 since the returns for the fiscal year ended June 30, 1926. The principal earnings received by these associations in 1927 were from interest and discount on loans, $5,517,000, and interest, including dividends, on investments, $1,463,000. The major expense items were salaries and wages ,$2,162,000, and interest paid on time deposits, $1,357,000. Comparative statement showing earnings, expenses, and dividends of these banks for the years ended June 30, 1926, and June 30, 1927, follows. 122 REPORT OF THE COMPTBOLLER OF THE CURRENCY Earnings, expenses and dividends of trust companies and savings banks in the District of Columbia [In thousands of dollars] Six months ended Dec. 31, 1926 Six months ended June 30, 1927 23 7 trust 30 7 trust com- savings total companies banks banks panies Capital stock . _ Total surplus fund Dividends declared Gross earnings: Interest and discount on loans Interest (including dividends) on investments . Interest on balances with other banks _ - . Domestic exchange and collection charges Foreign exchange department Commissions and earnings from insurance premiums and the negotiation of real estate loans.. Trust department Profits on securities sold Other earnings Total Expenses paid: Salaries and wages Interest and discount on borrowed money Interest on bank deposits Interest on demand deposits Interest on time deposits Taxes Other expenses ._ Total Net earnings Recoveries on charged-off assets: Loans and discounts . Bonds, securities, etc All other Total Losses and depreciation charged off: On loans and discounts On bonds, securities, etc On banking house, furniture and fixtures On foreign exchange Other losses Total Net addition to profits 11,400 8,350 592 23 savings banks total banks 30 Year ended June 30,1927, 30 banks Year ended •June 30, 1926, 30 banks 2,520 1,706 110 13,920 10,056 702 11,400 8,350 618 2,524 1,606 123 13,924 9,956 741 13,924 9,956 1,443 1,810 962 2,772 1,774 971 2,745 5, 517 6,918 584 211 795 495 173 668 1,463 0) 67 25 92 58 32 90 182 CO 2 8 22 7 24 15 3 11 18 1 21 12 45 27 45 31 18 256 55 443 37 55 256 92 541 24 187 62 255 23 41 71 47 187 103 326 102 443 195 867 152 392 37 98 1,260 3,243 1,399 4,642 2,869 1,330 4,199 8,841 8,798 707 357 1,064 737 361 1,098 2,162 2,027 6 23 359 405 185 251 21 23 54 273 54 219 27 46 413 678 239 470 7 18 340 395 490 246 13 22 46 284 112 212 20 40 386 679 602 458 47 86 799 1,357 841 928 45 1,936 1,001 2,937 2,233 1,050 3,283 6,220 2,167 779 936 5,954 1,307 398 1,705 636 280 916 2,621 2,844 1 44 33 10 2 3 11 46 36 9 11 6 11 4 6 20 15 12 31 61 48 129 1,385 413 1,798 662 301 — 963 2,761 2,973 21 46 71 28 92 74 34 44 84 9 118 53 210 127 217 164 56 10 35 16 72 10 45 39 5 14 10 1 19 49 6 33 121 16 78 8 159 10 13,867 9,670 1,337 8 168 125 293 136 123 259 552 548 1,217 288 1,505 526 178 704 2,209 2,426 Included with interest and discount on loans. 4 Included with recoveries on bonds, securities, etc. Included with other earnings. * Included with other losses. 'Included with interest on time deposits. 21 BUILDING AND LOAN ASSOCIATIONS IN THE DISTRICT OF COLUMBIA The total resources of the 22 building and loan associations operating in the District of Columbia, under the supervision of the Comptroller of the Currency, on June 30, 1927, were $53,829,000, and exceeded by $5,256,000 the resources of the same number of associations on June 30 of last year. 123 REPORT OF THE COMPTROLLER OF THE CURRENCY The loans showed an increase in the year of $4,159,000, or from $46,781,000 to $50,940,000. Installment payments on shares also increased from $42,794,000 to $47,887,000. There were 15 of the associations operating on the permanent plan, 6 on the serial plan, and 1 on the terminating plan. One of the associations requires installment dues on payments of $2.50, 1 payments of $2, and the remaining 20 payments of $1. On June 30, 1927, these associations had a total membership of 61,243, as compared with 60,087 members the preceding year. Borrowing and nonborrowing members in the current year were 16,539 and 44,704, respectively. The statement following discloses the number of associations, aggregate loans, installments paid on shares, and total resources on June 30 of each year 1909-1927. Summaries of the resources and liabilities of the individual associations for the six months ended June 30, 1927, together with consolidated statements of assets and liabilities, and receipts and disbursements for the six months ended December 31, 1926, and June 30, 1927, are published in the appendix of this report. Years June 30— 1909 1910 1911 1912 1913 1914 1915 1916 1917 . . 1918 1919 , 1920 1921 1922 1923 . 1924 1925 1926 1927 . _. Number of associations 22 19 19 20 20 20 20 19 19 20 20 21 24 22 23 23 24 22 22 Loans $13, 511, 587 14,415,832 14,965,220 16,004, 700 17,398, 010 18, 582,156 19,524, 065 20,186, 662 20,951, 089 21,567, 904 23,654,000 27,398,000 29, 520, 000 33,233,000 36,157,000 38,968, 000 42,482,000 46, 781, 000 50, 940, 000 Installments on shares $11,996,357 13,213,644 13,324,217 14, 529, 977 16,453,044 17,113,899 17,866,337 18,668,808 19,413, 266 20,252,005 22,463,000 25,373,000 27,593,000 30,506,000 32,858,000 35,452,000 38,653,000 42,794,000 47,887,000 Aggregate resources $14,393,927 15,250,731 16,017,405 17,100,293 18,438,294 19,029,260 20,655,614 21,611,007 22,264,005 23,215,027 25,699,000 29,322,000 31,683,000 34,879,000 37,589,000 40,467,000 43,977,000 48,573,000 53,829,000 B U I L D I N G A N D LOAN ASSOCIATIONS I N T H E U N I T E D STATES Statistics obtained from Mr. H. F. Cellarius, secretary, United States League of Local Building and Loan Associations, with headquarters at Cincinnati, Ohio, disclose that for the fiscal year ended 1926, the latest date for which complete information is available, there were 12,626 building and loan associations in the United States, having a membership of 10,665,705 and assets totaling $6,334,103,807. These figures show a net increase in membership for the year of 778,708, and an increase in assets of $824,927,653, as compared with the increase in the previous year of $743,238,957. In the 12~month period $1,945,000,000 was loaned on mortgage security, and it is noted the total investment of the building and loan associations in mortgage loans in the various States aggregated $5,852,689,591, or 92.4 per cent of the assets as compared with 92.3 per cent for the preceding year. 124 REPORT OF THE COMPTROLLER OF THE CURRENCY Pennsylvania again made the largest increase last year in aggregate assets, gaining $140,000,000, with New Jersey second, $114,528,201. Other States with increases over $10,000,000 were: Ohio, $80,811,032; Massachusetts, $56,238,224; California, $49,449,097; New York, $39,617,343; Illinois, $38,105,554; Wisconsin, $32,734,104; Indiana, $29,424,113; Maryland, $28,000,000; Louisiana, $24,262,576; Missouri, $22,454,167; Texas, $18,832,713; Michigan, $16,585,652; Kansas, $14,047,462; Washington, $12,855,563; Nebraska, $11,692,571; Kentucky, $10,511,475; and Oklahoma, $10,281,418. The table following shows by States the number of associations, total membership, and total assets, etc., for the fiscal year ended in 1926: Number of associations States Pennsylvania Ohio New Jersey Massachusetts Illinois New York Indiana 1 Maryland CaliforniaWisconsin Louisiana Nebraska Missouri Michigan __ Kansas.. Oklahoma Washington North Carolina Kentucky Texas District of Columbia. Virginia Iowa. Florida Colorado Arkansas Utah___ West Virginia Minnesota South Carolina Rhode Island Connecticut Oregon Maine 1 Alabama Montana. Mississippi New Hampshire Delaware. Wyoming i__ North Dakota Tennessee South Dakota New Mexico1 Idaho Vermont Arizona 1 Georgia Nevada Total Total membership Total assets Increase in assets 4,460 1,800,000 $1,130,000,000 $140,000,000 841 2,147, 275 928,381, 733 80,811,032 1,473 1,084,381 760,067, 751 114,528, 201 220 466,492 425, 511, 319 56,238, 224 ' 881 38,105, 554 840, 000 355, 509,301 309 39, 617,343 504,008 297, 707,160 399 29,424,113 382, 123 247,903, 736 1,210 28,000, 000 330, 000 200,000,000 176 49,449, 097 223,440 190,106, 988 171 32, 734,104 229,165 182,382,373 100 24, 262, 576 165, 332 154,186, 635 83 153,128,475 218, 807 11, 692, 571 243 215, 000 139,461,899 22, 454,167 83 192, 070 112,887,929 16, 585, 652 153 189, 393 107,315, 298 14,047,462 90 167,410 103, 343,185 10, 281,418 72 249, 338 89, 001,163 12, 855, 563 240 96, 590 85, 715, 009 4, 526,463 147 133,400 74,704,133 10, 511,475 138 124, 951 70, 804, 572 18,832, 713 22 59,299 50, 729, 274 4, 709, 274 79 51, 500 44, 557,196 5, 057, 196 74 71,800 40, 771, 567 3,391,042 73 27,000 39, 357, 725 5, 741,175 64 85,144 35,186, 058 4, 727,458 71 53,064 32, 029, 637 4, 478, 373 24 96,284 30,864,124 5, 405, 388 60 54, 500 28, 704, 386 3, 704, 386 83 69, 618 28, 643, 208 3, 430, 546 152 26,800 22, 782, 000 2, 782, 000 7 31,819 19, 538, 506 2, 463, 183 38 35, 896 18, 290,897 2, 092, 943 42 38, 200 18, 280, 225 3,408, 902 38 26,171 17,458, 473 827,458 20 20,000 15, 000, 000 6, 000, 000 31 37, 500 13, 738, 790 629, 328 35 18,600 13, 015,838 4, 515, 838 28 9, 223,974 15,115 1, 078, 490 41 8, 844, 308 1, 432, 056 16, 250 20 8, 000, 000 1, 000, 000 14,000 18 15,300 7, 788,410 822, 855 24 1, 504,151 11,275 6, 716, 217 26 7,015 5,000,427 18 6,500 3, 250, 000 300, 000 12 4,250 2, 335, 265 335, 265 3,805 2, 236, 747 438, 708 3,925 1, 681, 526 2 690,444 1, 500, 000 5,000 250, 000 2 900 460, 370 85, 370 i 12,626 I 10,665,705 1 Estimated. 6, 334,103, 807 2 Decrease. 824, 927, 653 Increase in membership 100,000 48,542 76,289 56,112 56,287 32,244 67,052 28,226 3,184 16,707 32,450 14,187 17,121 21,200 31,898 4,583 8,200 41,389 2,060 4,500 1,635 12,961 6,778 45,284 3,189 1,800 2,571 322 4,000 384 2 600 3,200 342 1,750 1,750 1,340 2,500 2 935 200 400 272 1,605 700 100 778, 708 EEPORT OF THE COMPTROLLER OF THE CURRENCY 125 MORTGAGE LOAN INVESTMENTS OF BUILDING ASSOCIATIONS In the comparative table following is shown, by States, the amount of mortgage loans held by building and loan associations in 1925 and 1926, together with the amount of increase of such mortgage loans in 1926 over the previous year, also the percentage of mortgage loans outstanding to total assets: Total mortgage loans outstanding 1925 Pennsylvania Ohio New Jersey Massachusetts „ Illinois New York Indiana Wisconsin Nebraska California Louisiana „ Missouri *. Michigan Kansas Oklahoma Washington North Carolina Kentucky District of Columbia Iowa Florida... Utah Minnesota Khode Island Connecticut Oregon Maine Montana New Hampshire Delaware North D a k o t a . . . Tennessee South Dakota Vermont _ Arizona Other States (estimated). Total 1926 Increase of Per cent mortgage mortgage loans out- loans to standing over previous year 1926 $910,177,581 $1,040, 000,000 $129,822,419 766,266,091 77,822,057 844,078,148 614,083,318 721,847,723 107, 764,405 348,503,053 401,967,888 53,464,835 301,325,212 34,739,693 336,064,905 240,359,492 277, 847, 924 37,488,432 199,982,657 224,036,000 24,053,343 144,999,013 177,032,179 32,033,166 126,752,579 137,580,984 10,828,405 130,883,648 176,852,910 45,969, 262 120,944,076 143,786,829 22,842,753 107, 651,544 128,916,610 21,265,066 100,241,951 11,605, 092 81,255,584 91,860, 734 10, 605,150 85,612,070 94,160,980 8, 548,910 62,934,356 73,675,854 10, 741,498 73,014,392 77,696,300 4, 681,908 62,908,000 73,214,108 10,306,108 44,321,000 48,133,012 3, 812, 012 35,377,861 38,387,940 3,010,079 29,650, 800 34,706, 731 5,055,931 21,840,942 27,073,364 5,232, 422 21,995, 587 25,334,429 3,338, 842 16, 223, 294 18,455,498 2,232,204 15, 252,627 17,076,062 1,823,435 12,647, 854 15,252, 627 2, 604, 773 16, 747, 072 1,134,377 15, 612, 695 12,003,439 546, 439 11,457, 000 1, 024, 593 7, 788, 965 8,813, 558 1,239,391 6,486,716 7, 726,107 855,409 6, 014,163 6, 869,572 4,989, 527 6,261,979 1,272,452 4,084, 000 4,125,176 41,176 1,690, 984 2,145, 792 454,808 2,060,659 1,389,409 1671,250 361,235,440 441,325, 797 80,090,357 92.0 90.9 94.9 94.4 94.5 93.3 90.4 97.0 89.8 93.3 93.2 92.4 88.8 85.6 91.1 81.6 90.6 98.0 94.9 94.1 88.2 87.7 88.4 94.5 93.4 83.4 96.0 87.4 95.5 87.5 88.2 93.2 82.5 96.0 82.1 92.4 767, 679,952 92.4 5,085,009,639 I 5,852,689,591 i Decrease. FAILURES OF BUILDING AND LOAN ASSOCIATIONS, 19 2 0 - 1 9 2 6 During the year 1926, 12 building and loan associations were reported by the various State departments as having been placed in liquidation, 9 of which were in Pennsylvania, 1 in Maine, 1 in Michigan and 1 in North Carolina. Of the total number of these failures 7 were due to defalcations, 1 was a promoted company which was otherwise mismanaged, 3 were due to bad loans which had been made, and 1 small association was placed in liquidation because its assets had depreciated and its earning capacity impaired. The loss due to failures for the year 1926 amounted to $380,725. 126 REPORT OF THE COMPTROLLER OF THE CURRENCY The following is a summary of the building and loan association failures and losses for the years 1920 to 1926, inclusive, together with a statement of the total number and total resources of these associations for each year and annual per cent of loss to total resources: Total number of Total resources Number associafailed tions 8,633 $2, 619, 914, 971 9,265 2,890, 764, 621 10,009 3,342, 530,953 10,744 3,942,939,880 11,844 4, 765, 937,197 12,403 5, 609,176,154 12, 626 6, 334,103,807 1920 1921 1922 1923 1924 1926 1926 2 6 4 9 18 26 12 Loss $506 91, 547 158, 674 132, 612 398,245 500,000 380,725 Per cent of loss to total resources 0.00002 .00320 .00470 .00340 . 00840 .00900 .00600 M O N E T A R Y STOCKS I N T H E P R I N C I P A L C O U N T R I E S OF T H E WORLD Figures furnished by the Mint Bureau for the calendar year 1926, with respect to the monetary stock of the principal countries of the world, show the total of gold aggregated $9,621,645,000, of which $9,581,301,000 was in banks and public treasuries, and the balance, $40,344,000, was in circulation. Silver stock amounted to $4,230,662,000. According to revised figures for the calendar year ended 1925 the gold stock was $9,277,662,000, and silver, $4,249,345,000. The figures herein contained for the total gold stock at the end of the calendar year 1926, therefore, showed an increase of $343,983,000 over 1925, while the silver stock was reduced $18,683,000. The statement following shows the monetary stock of the principal countries of the world at the end of the calendar year 1926: The following compilation has been made from such data as available—avowedly incomplete. The amount of gold and silver in circulation in many countries is not obtainable, and in some countries that held by private banks can not be given. For the United States thefiguresgiven cover all domestic gold and silver coin, but only such bullion and foreign coins as owned by the Government and Federal reserve banks. Monetary stock of principal countries of the world, end of calendar year 1926 [Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)] Gold stock Monetary unit Country North America: United States Canada Mexico 3 British Honduras 3 Costa Rica Cuba -. _ Dominican 3Republic.. . Guatemala Haiti Honduras8 Newfoundland 3 Nicaragua Panama Salvador - _. Virgin Islands British West Indies— Barbados 3 Jamaica Trinidad . . . . . . Dutch West Indies French West IndiesGuadeloupe8 Martinique South America: Argentina. _ Bolivia Brazil 8 Chile -. C olombiai°Ecuador ._ Footnotes at end of table Monetary standard Metallic Name United stock un- In banks In cirStates classified and public culaequivatreasuries tion lent Total Paper circulation in monetary Population unit of issuing country Silver stock Per capita Unclassified stock o Gold Silver $39. 59 21.96 1.17 2.00 $7.37 2.96 .54 4.33 .68 2.49 .31 .23 Paper a Golddo do do do -..do—. ..-do do do ...do do do do _do_. . do Dollar $1.00 1.00 do .4985 Peso 1.00 Dollar .25 Colon Peso ------ 1.00 1.00 Dollar 1.00 Quetzal .20 Gourde .50 Lempira 1.00 Dollar 1.00 Cordoba 1.00 Balboa .50 Colon.193 Franc ...do.- . Dollar Pound -do Dollar do Guilder —do Franc do do .do Peso .. do Boliviano .do Milreis —do Peso .do . do ...do Sucre $1,101 4,773 $19, 014 135 208 150 20 1,000 7 1. 0138 4. 8665 1.0138 .402 .193 .193 .9648 .3893 .5462 .1217 .9733 .4867 $4, 502,429 202, 633 16, 683 90 $4, 502,429 2 202, 633 16,683 90 322 5, 242 84 10 8 568 10 2 299 23, 787 135 208 150 20 1,000 332 5,242 86 $838, 260 27,345 7,783 195 338 8,413 278 500 500 2,300 315 584 66 1,826 1,500 2,500 113, 727 9,227 14, 235 45 498 3,369 897 2,185 2,045 650 263 690 446 1,650 25 $5,456, 965 247, 765 3,220 653 20, 614 3 317, 376 i 1,346 25,339 14,000 630 8 185 6,710 IB, 907 18 568 41 790 5,306 205 940 238 5,275 2,081 156 858 391 166 299 73 38,810 32,000 230 240 1, 319, 798 37, 611 2,539,304 371, 788 51, 261 16,000 9,839 2,820 33,737 3,905 6,760 2,000 386 435,880 8,554 56,323 10,303 22,051 4,500 1 435,880 8,554 56,323 12,129 22, 051 6,000 3 17 1,220 9,517 2,000 $0.08 7.06 .15 .09 .07 3.77 .74 3.17 3.44 .77 8.68 .45 1.31 $47.98 26.85 .22 14.51 41.39 94.20 1.50 11.59 6.84 .97 .69 9.72 2.64 9.64 100.00 .04 3.42 .26 .92 13.57 1.23 6.02 .27 13.49 12.53 1.30 .32 168. 74 133. 33 1.61 44.31 3.03 1.67 3.11 3.26 3.00 .31 1.41 1.00 134.14 13.33 75.29 95.21 7.58 8.00 o d 3 6 Monetary stock of principal countries of the world, end of calendar year 1926—Continued [Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)] Monetary unit Country Monetary standard Name South America—Continued. Guiana— British Gold.... Dollar $1.0138 do Guilder .402 Dutch 3 .193 Franc French _ .do . .9648 Paraguay ___do Peso... Pound 4.8665 ...do PeruL.. 1.0342 Uruguay. _ _ -do . . Peso Venezuela.. „ . . . d o . . . . Bolivar... . .193 Europe: Austria" Schilling ...do .1407 2 $492 Franc .193 3 17,469 Belgium" ___do Bulgaria __ —do Lev .193 Czechoslovakia Krone (13) .2026 Danzig Gold.... Gulden.. .195 "KYrvpfl do 268 Denmark Mark .00268 Estonia ...do Finland ...do do .0252 France _ ...do Franc .193 do Reichsmark. .2382 Germany Pound 4.8665 Gibraltar 3_ ...do Great Britain and Irish ...do do 4.8665 152,102 Free State. Greece __ ...do Drachma .193 Hungary __ — d o . . . . Pengo .1749 Iceland _.. ...do Krone .268 Lira. .193 Italy" _ ...do Lat .193 Latvia ...do Lithuania ...do Litas .10 Malta ...do Pound 4.8665 219" Guilder .402 Netherlands ...do. Krone . . . .268 Norway _ ...do Zlotz .193 Poland . . . —do do 1.0805 Escudo Portugal do 3,174 .193 Leu Rumania n 91,143 Russia *• -.do . Chervonetz _ 5.1455 Peseta .193 Spain —do Gold stock Metallic United stock un- In banks In cirStates classified and public culaequivatreasuries tion lent Total $91 94 2,123 21,490 60,423 »• 15,000 $91 94 2,123 21,490 60,423 15,000 7,388 86,214 8,464 8,410 1 56,007 172 8,249 711,106 395,675 7,388 86,214 8,464 8,410 1 56,007 172 8,250 711,106 395,675 $1 751,868 751,868 " 10,059 ii 29,526 603 220,732 4,559 102 10,059 29,526 603 220,732 4,559 102 166,161 45,524 26, 677 9,267 27,787 84, 597 500,098 166,161 45, 524 26,677 9,267 27, 787 84, 597 500, 098 Silver stock Paper circulation in monetary Population unit of Unclasissuing sified country stock $1,608 3,020 10,760 102,661 6,104 67,611 62,500 298 108 26 1,000 6,000 1,632 2,562 947,321 9,937,859 3,480,616 3,415 8,202, 594 1,777 35,716 1,960 385,961 4,041 3 11 3,354,357 1,345,715 »22 65,760 52,907,329 5,092,232 151,006 i<160 444,697 335,810 6,536 7,744 5,034 14,051 400 3,386 1,200 3,500 39,210 62,475 18 48,222 $203 303 194 3 3,304 10 9,000 965 3,239 5,715,676 470,870 7,271 20,312 20,133,115 34,875 442 86, 792 1,350 800 884,776 48,037 337,200 6,673 936,923 10, 593 1, 835, 601 1,170 20, 950, 547 131, 256 130,295 4,339,187 6,500 8,275 96 39,657 1,845 2,203 184 7,298 2,732 28,478 6,033 16, 750 138, 781 21, 763 Per capita Gold Silver $0.69 2.81 $0.89 7.49 3.61 2.12 3.58 37.02 ~"2.~02~ 5.85 3.61 $0.07 2.25 3.15 1.19 .19 .65 1.13 11.13 1.68 .59 16.54 .14 2.36 18.13 6.33 .67 .12 4.87 1.19 .01 .01 1.67 2.42 15.59 6.96 1.54 3.56 6 28 5.56 2.47 .04 .15 .39 22.76 16.66 .93 1.53 1.69 .61 22.98 .51 .24 .61 6.58 2.44 .37 .19 6.98 Paper $5.39 27.96 413.85 192.66 1.02 41.42 24.39 144.93 1,283.29 691.42 683.77 89.29 114.01 2,795.29 384.49 1,349.33 81.51 8.88 9.22 879.33 56.90 75.74 507.68 18.90 39.39 4.34 121.30 123.42 32.89 304.26 1,250.77 .94 199.38 Sweden ...do ...do Switzerland n ...do Yugoslavia n Asia: ._-do_.__ British North Borneo _ do Ceylon17 Silver China - Cyprus Island Gold.... Federated Malay States.. ..do India, British do Indo-China, French Silver. __ Japan, including Chosen, Gold Taiwan, Kwantung. Netherlands East Indies. ...do. . . Palestine _ do Persia 3 Silver. _. Philippine Islands GoldSarawak „ do Siam do do Straits Settlements do Syria Africa: Abyssinia Silver . . Algeria Gold Belgian Congo . do Dahornei do do Egypt 3 _ . Eritrea do French Equatorial Africa3 do Gambia do do Gold Coast Guinea, French _. do do Ivory Coast Kenya C o l o n y and . . . d o Uganda.8 Madagascar „. do_. . . do . . Morocco Nigeria do Nyasaland ...do Portuguese East Africa. _. ...do do Portuguese West10 Africa Reunion Island ...do Rhodesia, Northern 3 , do Rhodesia, Southern . . do Senegal. do Sierre Leone ...doSomaliland: British 3 do French . do Italian 3 .._do Footnotes at end of table. Krona FrancDinar .268 .193 .193 Dollar Rupee Dollar. Pound Dollar Rupee Piaster Yen .5678 .365 1,521 60,385 76,773 16, 620 60,385 76, 773 16, 620 15 15 (18) 4.8665 .5678 .365 43,341 3,380 525,077 873, 941 5,811,843 6,036 3,918 12,492 13,689 144,734 711 126 1, 682,393 3 76,629 212,231 2,421 62,745 423,872 461 7,154 1,811,840 123, 720 1,715,714 258 4,862 436,000 317 1,325 247,003 21,973 77/817 352,987 1,000 52,000 121,189 156 126,271 163,420 9,775 49,351 700 9,500 11,142 500 1,612,301 19 93,766 59,106 27, 813 8,000 5,806 15,000 1,000 13,886 450 3,124 210 2,299 2,020 1,656 2,529 292 292 81 469 81,469 .4985 561,810 561,810 Guilder Pound Kran Peso Dollar Tical Dollar Pound .402 4.9431 80,067 80,067 3,059 3,059 161,403 222 32, 726 19,021 187 44,177 12,825 Thalari Franc do do Pound Lire Franc Pound do Franc do Shilling (18) (18) (18) .50 .5678 .3709 .5678 3.860 -.- .193 .193 .193 4.9431 .193 .193 4. 8665 4. 8665 .193 .193 _. .2433 Franc .193 do .193 Pound _ . 4. 8665 4. 8665 do1. 0805 Escudodo 1 0805 Franc... .193 Pound 4. 8665 do 4. 8665 Franc. .. .193 Pound 4. 8665 Rupee Franc. _ Rupee 18,304 365 .193 .365 187 15,923 3 340 16,695 17,455 17, 455 27, 513 1 692 6,799 2,001 386 246 195 386 49 146 295 341 1 1,930 3,437 1,445 403,824 415,782 224 202 196 21 104,897 112, 523 33,000 27 112 401,833 150 1,176 3,120 4,000 174 931 808 1,225 1,541 329 44 1,863 300 1,558 2,000 344 65 1,000 1,900 51 2,020 51 2,020 28,000 153 1,478 7,121 113, 802 1,683 9,618 935 2,140 3,382 4,411 .25 10.00 19.59 1.33 .92 .33 .83 7.09 1.62 11.06 .27 86.99 223.05 465.24 2.81 .33 2.24 .09 1.54 3.49 2.71 9. 38 12.90 .97 1.45 5.39 7.33 5.63 22.04 .27 3.27 .32 3.44 1.71 .20 4 59 13.71 7.15 1.43 5.47 10.87 .26 13.12 174. 78 4.57 7.44 .62 277. 69 6.25 59.11 2.00 .42 2.87 1.25 1.98 3.76 ' 2.69 .45 .09 .25 .11 .43 .17 1.23 119.40 94.26 .01 .21 33.62 28.13 189. 65 .03 .07 328.02 .10 .95 .67 1.86 .87 23.97 2.00 10.92 .05 2.50 8.96 .73 .64 3.52 68.71 .66 Monetary stock of principal countries of the worlds end of calendar year 1926—Continued CO O [Stated in United States money (000 omitted), except paper stock, which is stated in monetary unit of issuing country (000 omitted)] Monetary unit Country Monetary standard Africa—Continued Sudan, Anglo-Egyptian__ Gold.. . Tanganyika.. do Tunis 3 do Union of South Africa do . Zanzibar do Oceania: do Australia . . . New Zealand do Fiji Islands do Society Islands Total . . do— Name Pound Shilling Franc Pound Rupee Pound do do Franc Gold stock Metallic United stock un- In banks In cirStates classified and public culaequivation treasuries lent . _ $4.8665 stock $124 .2433 .193 4. 8665 365 4. 8665 4. 8665 4. 8665 .193 Silver Total 42,093 $17, 786 $136,797 38,007 496,848 $124 $8,904 5,179 59,879 15,884 692 106,976 106,976 356 356 9, 581, 301 40, 344 1 Includes gold and silver certificates (representing coin and bullion held in trust in the2 Treasury) redeemable on demand. Including some silver. 3 Last year's figures or figures of previous years. 4 United States Government and bank notes. 6 Gold standard established Apr. 3, 1926. 6 Government notes only. 7 United States gold coin. 8 On June 30,1926. 9 New monetary unit established Sept. 17, 1925. 10 Estimated. 9, 621, 645 3 774 4, 230,662 Per capita Paper circulation in monetary unit of issuing country Population . $39 6,994 239,654 10,303 3,037 3,400 7,200 2,094 7,294 197 50,131 3 6,948 367 20, 640 5,874 1,370 164 28 $23 28 27^74 1, 715,404 .29 UnclasGold sified stock Silver $0.04 $2.62 .71 8.21 2.17 3.51 Paper 18.21 2.17 4.72 5.61 2.47 $0.01 .97 114.40 1.41 15.41 8.53 5.07 2.23 737.14 11 12 13 14 15 Stock in national bank. Including minor coin. Monetary standard not established. Exclusive of Spanish bank notes. Stock in Bank of Italy, sole bank of issue since July 1,1926. « On Jan. 1,1927. 17 Incomplete. 18 Fluctuates with the price of silver. 19 On Nov. 30,1926. 20 Union of South Africa coin. 21 In addition to this, there circulates about £3,000 Union of South Africa notes. NOTE.—Figures given represent each country's stock at the end of the year, except when otherwise indicated. Population figures are from the Statistical Abstract of the United States, 1925. Blanks indicate no figures available, rather than no stock. Gold held abroad as follows, not included in the above figures (presumably reported by the country having actual possession): Canada, $27,962,178; Chile, $56,591,470; Czechoslovakia, $18,809,484 in gold and $1,617,862 in silver; Estonia, $2,563,516; Egypt, $142,307; France, $359,813,935; Germany, $40,560,696; Greece, $4,825,000; Japan, $114,655,000; Lithuania, $3,034,600; Rumania, $82,630,958; Switzerland, $14,276,596; Straits Settlements, $41,637; Union of South Africa, $2,538,279; Jugoslavia, $11,316,748. o 3 9 REPORT OF THE COMPTROLLER OF THE CURRENCY 131 FEDERAL LAND BANKS The resources of the 12 Federal land banks September 30, 1927, aggregated $1,217,970,000, which was an increase of $79,428,000 over the resources reported on September 30, 1926. Net mortgage loans, the principal asset of these associations, amounted to $1,143,130,000, and showed an increase in the year of $85,913,000. United States Government bonds and securities held, $19,553,000, were reduced in the year $14,801,000, while cash on hand and in banks increased from $10,372,000 to $17,044,000. The capital stock of these associations, $61,238,000, was greater by $4,724,000 than this item for the previous year, and $59,834,000 of the capital stock in the current year was subscribed by national farm loan associations. The legal reserve was reported amounting to $9,911,000, surplus, reserves, etc., $331,000 and undivided profits $4,169,000. The combined capital, reserves, surplus, and profits aggregated $75,649,000, compared with $69,381,000 a year ago. Statement of the assets and liabilities of these banks September 30, 1927, follows: Consolidated statement of condition of the 12 Federal land banks at the close of business September 30, 1927 Assets: Net mortgage loans $1, 143, 129, 629. 57 Interest accrued but not yet due on mortgage loans 20, 941, 080. 30 United States Government bonds and securities 19, 553. 400. 20 Interest accrued but not yet due on bonds and securities 196, 488. 84 Other interest accrued but not yet due 32, 821. 38 Cash on hand and in banks 17, 044, 325. 44 Notes receivable, acceptances, etc 3, 105, 816. 32 Accounts receivable 2,408,352. 89 Installments matured (in process of collection) 1, 350, 467. 16 Banking house 2, 569, 875. 61 Furniture and fixtures 236, 730. 63 Sheriffs' certificates, judgments, etc. (subject to redemption) 6,524, 128. 66 Other assets1 877,245.84 Total assets Liabilities: Farm loan bonds outstanding Interest accrued but not yet due on farm-loan bonds-Notes payable Accounts payable Other interest accrued but not yet due Due borrowers on uncompleted loans Amortization installments paid in advance Farm-loan bond coupons outstanding (not presented). Dividends declared but unpaid Other liabilities ..... Total liabilities 1, 217, 970, 362. 84 1, 110, 749, 620. 00 16, 408, 709. 11 681, 404. 85 4, 348, 204. 94 22, 505. 99 514, 606. 98 1, 661, 053. 20 926, 162. 59 1, 373, 744. 91 5,635,036.60 1,142,321,049. 17 132 REPOBT OF THE COMPTROLLER OF THE CURRENCY Net worth: Capital stock United States Government $710, 651. 00 National farm-loan associations 59, 834, 070. 00 Borrowers through agents 692, 875. 00 Individual subscribers 115. 00 Total capital stock Reserve (legal) Surplus, reserves, etc Undivided profits 61, 237, 711. 00 9,911,400.00 330, 905. 88 4, 169, 296. 79 Total liabilities and net worth _' Memorandum: Total net earnings to Sept. 30, 1927 Less real estate acquired, charged off1 Net earnings available for distribution Distribution of net earnings: Dividends paid $20, 089, 790. 32 Carried to suspense account 1, 757, 965. 26 Banking house charged off 192, 903. 15 Carried Carried Carried Carried to to to to surplus, reserve account other reserve, etc reserve (legal) undivided profits Balance now carried Capital stock originally subscribed by United States Government Amount of Government stock retired to date Capital stock held by United States Government $75, 649, 313. 67 1,217, 970, 362. 84 51, 013, 934. 60 14, 655, 286. 34 36, 358, 648. 26 22, 040, 658. 73 214, 290. 41 23, 002. 33 9,911,400. 00 4, 169, 296. 79 36, 358, 648. 26 8, 892, 130. 00 8, 181, 479. 00 710, 651. 00 JOINT-STOCK LAND BANKS Resources of the 83 joint-stock land banks on September 30, 1927, aggregated $653,318,000, in comparison with resources of $671,926,000 on September 30, 1926. Mortgage loans were decreased from $614,639,000 to $609,535,000, and interest accrued but not due on mortgage loans showed a reduction of $176,000; United States Government bonds and securities were $11,994,000 less, and cash on hand and in banks, $9,453,000, showed a reduction of $4,824,000. The paid in capital stock was $40,856,000, which shows a decrease in the year of $3,868,000, while paid in and earned surplus, $3,681,000, was greater by $135,000. Legal reserve amounted to $4,561,000, other net worth accounts $1,358,000, and undivided profits $2,375,000. The total net worth of these associations was $52,832,000, compared to $56,668,000 on September 30, 1926. i AU real estate acquired through foreclosure or by deed charged ofl immediately upon acquisition. REPOBT OF THE COMPTROLLER OF THE CURRENCY 133 Statement of the assets and liabilities of these banks, follows; Consolidated statement of condition of the 88 joint-stock land banks at close of business September 30, 1927 Assets. Net mortgage loans „ $609, 534, 665. 37 Interest accrued but not yet due on mortgage loans 11, 018, 312. 79 United States Government bonds and securities 6, 212, 476. 58 Interest accrued but not yet due on bonds and securities. 74, 436. 17 Cash on hand and in banks 9, 453, 121. 07 Notes receivable, acceptances, etc 764, 286. 77 Accounts receivable 556, 845. 20 Installments matured (in process of collection) 1, 827, 365. 45 Banking houses 157, 633. 34 Furniture and fixtures 148, 289. 69 Real estate sales contracts, purchase mortgages, etc 2, 067, 422. 53 Sheriffs' certificates, judgments, etc. (subject to redemption) 3,494,233.82 Real estate 5, 647, 637. 91 Securities owned on repurchase agreement 1, 451, 014. 02 Other assets __ 910, 186. 38 Total assets 653, 317, 927. 59 Farm-loan bonds outstanding . Interest accrued but not yet due on farm-loan bonds Notes payable » Accounts payable Other interest accrued but not yet due Due borrowers on uncompleted loans Amortization installments paid in advance Farm-loan bond coupons outstanding (not presented) Dividends declared but unpaid Securities sold on repurchase agreement Other liabilities. Total liabilities Net worth: Capital stock paid in Surplus paid in . Surplus earned Reserve (legal) Other net worth accounts. Undivided profits 579, 073, 500. 00 9, 493, 613. 73 4, 905, 526. 28 358, 529. 85 21, 206. 36 781, 861. 50 901, 247. 58 1, 067, 478. 03 126, 391. 05 3, 237, 721. 50 518,961. 53 600,486,037.41 „ $40, 855, 510. 1, 842, 334. 1, 839, U-1. 4, 561, 4S4. 1, 358, 488. „ 2, 374, 910, 24 75 71 32 22 94 Total liabilities and net worth 52, 831, 890. 18 653, 317, 927. 59 FEDERAL INTERMEDIATE CREDIT BANKS On September 30, 1927, the aggregate resources of the 12 Federal intermediate credit banks were $110,293,000, compared with resources the year previous of $123,634,000. Direct loans were reduced in the year from $35,951,000 to $17,733,000, while rediscounts increased from $42,539,000 to $45,145,000. Capital stock callable from United States Treasury, $35,000,000, was reduced $1,000,000 in the 12-month period. Cash on hand and in banks, $4,383,000, showed an increase of $775,000. The subscribed capital stock of these banks was $60,000,000, the same as last year, while surplus, undivided profits, and other reserves showed reductions. Debentures outstanding were $45,050,000 as against $55,240,000 last year, and notes and bills payable, $250,000, 134 REPORT OF THE COMPTROLLER OF THE CURRENCY showed a marked decrease. Notes and bills rediscounted also decreased in the year $110,000. The statement following is a consolidated return of the resources and liabilities of these banks: Consolidated statement of condition of the 12 Federal intermediate credit banks as of the close of business September 30, 1927 Assets: Direct loans $17, 733, 408. 53 Rediscounts 45, 145, 183. 70 Accrued interest on loans and rediscounts 332, 682. 41 United States Government bonds and securities 1, 125, 000. 00 Accrued interest on United States Government bonds and securities 20, 405. 37 Other securities 4, 712,626. 17 Accrued interest on other securities 20, 232. 12 Notes and bills payable 446, 833. 65 Rediscounts for other Federal intermediate credit banks___ 400, 000. 00 Cash on hand and in banks 4, 383, 399. 89 Capital stock callable from United States Treasury 35, 000, 000. 00 Furniture and fixtures 20,470. 65 Profit and loss 632, 536. 78 Other assets 320, 191. 24 Total assets Liabilities: Capital stock subscribed Surplus Undivided profits Other reserves. Reserved for matured debentures Reserved for depreciation and losses Debentures outstanding Accrued interest on debentures outstanding Notes and bills payable Notes and biUs rediscounted Deferred rediscounts Interest collected not earned Cash capital rediscount agencies Other accrued interest.. 1 Other liabilities Total liabilities 110, 292, 970. 51 60, 000, 000. 00 1, 447, 310. 40 735,353.39 5, 845. 72 500, 000. 00 341, 598. 61 45, 050, 000. 00 566, 465. 82 250, 000. 00 400, 000. 00 173, 917. 42 403, 702. 00 223, 369. 07 3, 435. 64 191,972.44 110,292,970.51 NATIONAL AGRICULTURAL CREDIT CORPORATIONS The National Agricultural Credit Corporations of Fort Dodge, Iowa, and of Des Moines, Iowa, were voted into voluntary liquidation on October 25, 1926. As none has been organized since then, only one, the Pacific National Agricultural Credit Corporation of Fresno, Calif., remains in operation. The two Iowa corporations were organized to answer the temporary needs of the sections in which they were located and they were discontinued when in the judgment of their shareholders the purpose for which they had been organized had been fulfilled. The growth of the Pacific National Agricultural Credit Corporation, which is authorized to do business in the Pacific Coast States and a few contiguous ones, indicates the need for it as permanent rather than temporary. A comparison of the statement of this corporation for October 10, 1927, with the statement of the same corporation for KEPORT OF THE COMPTROLLER OF THE CURRENCY 135 June 30, 1926, as it appeared in the report of the Comptroller of the Currency for the year 1926, will show that its resources have more than doubled during an interval of about 16 months. Further comparison will also show that on October 10, 1927, the resources of the one remaining corporation were over 50 per cent more than the combined resources of all corporations in operation on June 30, 1926. In the statement following is shown a summary of the resources and liabilities of the Pacific IN ational Agricultural Credit Corporation of Fresno, Calif., at the close of business October 10, 1927: RESOURCES Cash on hand and in banks United States securities Loans Furniture and Accounts receivable Customers funds held in trust Other assets fixtures Total $66, 489. 93 262, 906. 01 3,212,294. 01 3,069. 70 844. 74 42, 195. 91 10, 281. 51 3, 598, 081. 81 LIABILITIES Capital stock Undivided profits. Interest Discounts Undistributed trusteed funds Other liabilities Total NOTE.—Trust securities not included. 500, 000. 00 17,276. 32 37, 316. 75 2,991,725. 76 42, 195. 91 9,567. 07 3, 598, 081. 81 UNITED STATES POSTAL SAVINGS SYSTEM The resources of the United States Postal Savings System on June 30, 1927, according to information obtained through the courtesy of the Third Assistant Postmaster General, under whose supervision the system operates, aggregated $155,901,000 and showed an increase of $14,089,000 in the year. The total number of depositors on June 30, 1927 was 411,394, an increase of 12,089 in the year, and the average amount of deposits per depositor was $358.19, compared to $336.03 a year ago. Withdrawals of postal savings funds in the year were $93,960,000, and the balance to the credit of depositors on June 30, in the current year, was $147,359,000, an increase in the period of $13,181,000. Surplus funds, consisting of interest and undistributed earnings subject to future allocation of maturing interest changes increased in the year from $203,000 to $206,000. Comparative statements in relation to the operation of the Postal Savings System for the years ended June 30, 1926, and 1927, follow; 71284°—28 10 Comparative balance sheet for June SO, 1927, and June SO, 1926 CO Items June 30,1927 Working cash: Depository banks. Postmasters $114,343,673.43 268,654.64 •$114,612,328.07 Special funds: Treasurer of the United StatesReserve fund Miscellaneous (working) funds 6,426,695.18 909,182.52 Accounts receivable: Accrued interest on bond investments..-. Due from late postmasters-_ _ Investments, carried at cost price: United States bonds— Postal Savings 2^'s Fourth Liberty 43^'s 365,264.67 42,017.57 Par value $10,325,140 26,676,750 10,325,140.00 23,220,860.36 37,001,890 7,335,877.70 407,282.24 33,546,000.36 June 30,1926 $100,948,814.66 $13,394,858.77 241,863.37 26,791.27 • $101,190,678.03 13,421,650.04 6,601,985.18 420,387.99 361,241.66 13,458.30 10,003,300.00 23,220,860.36 155,901,488.37 7,022,373.17 488,794. 53 313,504.53 374,699.96 4,023.01 28.559.27 32.582.28 33,224,160.36 •""32i,~840."Q0 141,811,911.52 14,089,576.85 O $175,290.00 321,840.00 | LIABILITIES AND SUBPLUS FUNDS Due depositors: Outstanding principal, represented by certificates of depositAccrued interest on certificates of deposit _ Outstanding savings stamps Accounts payable: Due Postal Service—interest and profitsDue discontinued depository banks Total liabilities... Surplus funds: Interest and profits (undistributed earnings) subject to future allocation of maturing interest charges_ 147,359,254.00 3,972, 111. 69 58,400.90 4,305,909.83 256.79 151,389,766.59 4,306,166.62 155,695.933.21 134,178,558.00 3,796,140.72 58,627.90 13,180,696.00 175,970.97 138,033,326.62 3,575,593.88 486.18 227.00 13,356,439.97 730,315.95 3,576,080.06 730,086.56 141,609,406.68 14,086,526.53 205,555.16 202,504.84 3,050.32 155,901,488.37 141,811,911.52 14,089,576.85 229.39 o Comparative statement of interest-earning resources and interest-bearing liabilities for June SO, 1927, and June 80 > 1926 Items June 30,1927 June 30,1926 Increase Decrease RESOURCES—INTEREST-EARNING Working cash: Depository banks, per balance sheet Investments, carried at cost price, per balance sheet $114,343,673.43 33,646,000.36 $100,948,814.66 33,224,160.36 $134,172,975.02 $13,394,858.77 321,840.00 13,716,698.77 147,359,254.00 134,178,558.00 13,180,696.00 530,419.79 -5,582.98 536,002.77 $147,889,673.79 s LIABILITIES—INTEREST-BEARING Due depositors: Outstanding principal, represented by certificates of deposit, per balance sheet Excess of interest-earning resources.. 3 o Comparative statement of interest and profits for the fiscal years ended June 80, 1927, and June SO, 1926 Items Credits: Interest on bank deposits Interest on bond investmentsMiscellaneous receipts Debits: Interest credited to depositors __. Allowances to postmastersLosses by fire, burglary, e t c . . Final adjustment, previous year.. Excess of income. Fiscal year 1927 $2,680,180.28 1,388,392.50 11.42 $4,068,584.20 Fiscal year 1926 $2,478,392.91 1,381,066.28 11.83 2,527,375.04 2,418,811.95 4,254.70 3,050.32 1,920.66 Increase Decrease i $201,787.37 7,326.22 $3,859,471.02 209,113.18 $0.41 108,563.09 2,534,680.06 2,420,732.61 1,533,904.14 1,438,738.41 2,334.04 3,050.32 113,947.45 95,165.73 CO Summary of postal-savings business for the fiscal year ended June SO, 1927, by States Balance to the credit of depositors June 30, 1926 Deposits i United States. $134,178,558 $107,140,780 Alabama -. Alaska Arizona Arkansas California Colorado Connecticut DelawareDistrict of Columbia Florida Georgia Hawaii Idaho Illinois Indiana.. Iowa Kansas Kentucky Louisiana Maine Maryland MassachusettsMichigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania 360, 753 665,528 1,109, 282 222,147 2, 686,893 3,276,507 1,565, 768 128,463 365,013 2,185,033 500,936 21,683 2,183, 716 6,985,801 755,470 2,976, 716 1, 353,436 240,752 296,983 145, 755 169,563 7,495,621 2,158,463 3,784,501 76,558 3,638,852 4,938,807 344, 630 362,363 1,262,068 320,819 2,556, 643 2, 536,882 734,559 73,884 289,156 8,483,430 1,171,639 34,486 2, 476,822 3,592,604 492,018 6, 704,515 1,924,670 156, 579 274,910 71,895 124,962 3,325,513 1,348,830 4,607,068 58,965 3,336,723 3,947,115 262,885 266,493 163,085 2,078,675 1,094,240 24,069,940 254,730 863,459 1,486, 713 3,429,110 1,810,132 5,550,344 State 342,948 309,499 374,511 3,121,230 1,179,544 44,539,453 103,954 2, 765, 445 2,570,464 2,113,252 10,573,832 Savings stamps Balance to the credit of depositors June 30, 1927 Increase in balances to the credit of $93,960,084 $147,359,254 $13,180,696 $37,563.00 342,188 349,152 1,160,697 157,071 2,315,750 2,134,438 877,409 363,195 2,442 13,211 101,371 163,748 24.50 65.30 21.50 97.70 236.00 Withdrawals * 285, 600 6,363, 647 673,168 32, 574 2,122,427 3,555,338 362,015 2,670,960 833,596 136,322 177,682 82,238 116,481 3,926,229 1,338,656 2,447,411 37,973 2,370,089 3,344,978 183,420 232,757 166,416 2,423,968 932,909 29,531,543 142,484 478,790 1,288,651 2,148,388 1,315, 502 5,916,683 678,739 1,210, 653 2,927,786 3,678,951 1,422,918 112,891 368, 569 4,304,816 999,407 23,595 2,538, 111 7,023,067 885,473 7,010, 271 2,444,510 261,009 394, 211 135,412 178,044 6,894,905 2,168,637 5,944,158 97,550 4,605,486 5,540,944 422,413 343,235 371,180 2,775,937 1,340,875 39,077,850 216,200 1,067,638 2,963, 507 3,851.186 2,607,882 10,207,493 tors a 240,893 402,-444 -142,850 -15,572 3,556 2,119,783 498,471 1,912 354,395 37,266 130,003 4,033,555 1,0§l, 074 20,257 97,228 -10,343 8,481 -600, 716 10,174 2,159,657 20,992 602,137 79,465 33,736 -3,331 -345,293 161,331 -5,461,603 112,246 198,062 1,280,722 494,630 -366,339 Sold Redeemed 98.20 78.20 35.80 4,060.30 18.50 69.10 44.00 15.50 11.00 87.00 59.60 2,097.30 150.70 261.80 13.10 55.10 41.50 42.80 12.70 244.80 1,305.60 13.30 8,739.00 11.10 30.80 273.50 103. 40 78. 70 1,780.40 38 3,607 19 67 51 18 13 83 63 2,218 170 260 19 63 40 59 13 274 1,413 12 9,204 8 33 250 93 85 1,781 247.10 113.60 Interest received from banks Interest paid depositors Amount of deposits surrendered for bonds $37, 735 $114,597,400.18 $2,680,180.28 $2,351,404.07 20 65 17 66 313 215 1,138 15 125 111 79 1,161.60 27.20 Amount at interest in banks June 30,1927 319,038.41 497, 798. 22 1,056,802.13 368,118.32 2,192,573.45 3,555,025.24 910,998.04 105,867.38 333,869.37 4,191,112.78 965,709. 29 22,798.57 2,502,393.43 5,377,452.48 683,358.63 6,977,821.60 2,288,861.76 213,936.78 336,958. 65 113,893.02 111, 154.84 5,177, 521. 78 1,650,140.15 5,924, 357.91 93, 302. 72 4,241,169.83 5,475,337.12 385,785.25 302, 566.08 306,794.20 1,993,943.03 905,120.51 21,021,974.76 184, 649.14 1,057,290.45 2,133,591.63 3, 792,091.55 2,244,813.64 9,048,661.35 7,725.09 14,860.27 25,280.16 6,578.66 55,420. 65 85,289.93 24,545.70 2,878.42 9,319. 56 83,996.42 18,421.84 538.82 59,079.44 124,200. 59 18,033. 70 119,413.32 42,397.75 5,029.91 6,891.95 2,928.15 2,620. 20 146,077.27 45,674.60 117,991. 37 2,037. 57 92,379. 52 131,913.84 8,294.80 7,075.19 7,764.57 54,306. 56 20,480.81 525,213.06 3,313.03 21,786.41 53,953.54 52,244.21 227,987.84 6,368.95 13,048.35 14,509.18 3,522.84 49,919.73 47,510.11 30,612.57 2,742.97 6,576.33 28,502.38 7,481.30 592.94 31,750.90 128,380.06 14,075.76 40,742.50 19,441.38 4,352.51 5,705.16 2,968.10 2,683.17 133,700.17 44,841.84 54,324. 73 1,170.89 60,350.31 71,006.76 6,534.05 5,308.22 6,090.59 59,375.45 13,994.17 861,594.85 1,411.61 8,960.12 47,439.25 34,376.42 36,617.12 187,454.67 820 13,900 2,500 21,360 5,040 720 1,200 9,900 25,100 8,220 65,540 33,840 1,000 5,000 103,720 2,500 36,360 34,800 5,700 100 7,500 16,300 6,000 51,060 29,000 12,360 24,400 168,453 645,247 354,477 1, 596,470 276,853 1,597, 636 595,499 68,388 241,539 9,310 6,492,913 385, 797 1,110,224 1,669,651 Porto Rico Rhode I s l a n d South Carolina. South Dakota.. Tennessee Texas Utah Vermont Virginia Virgin Islands.. Washington West Virginia.. Wisconsin Wyoming 223,865 332, 644 1,188,148 3,749,131 371,982 2,534, 409 372,909 195,172 11,262 3,743,024 649,185 1,491,116 232,650 410,641 514,490 2,024,130 22b,938 1,330,600 352,185 31,497 193,857 8,780 3,462,646 226,546 575,476 1,302,592 159,668 567, 250 1,028,135 3,321,471 424,897 2, 796,445 616,223 62,581 242,854 11,792 6, 773,291 467, 940 1,183,933 1,858,175 -8,785 -77,997 673,658 1,725,001 148,044 1,198,809 20,724 -5,807 1,315 2,482 280,378 82,143 73,709 188,524 14,660.40 301.90 17.60 143. 50 14.40 77.60 25.50 8.90 100.60 14,597 337 16 107 16 92 6 10 119 138,373.59 449, 738. 81 881,091. 76 2, 659,831. 34 401, 825. 39 2, 255,908. 53 426,289.18 57,244. 68 230,130.46 3,391.72 12,123. 74 16,156.22 54,473. 40 7, 791. 21 44,005.11 13,013. 63 1,533.77 5,701. 35 83.70 79.50 45.70 176.40 90 10 43 174 5,400,473.10 357,838.49 914,490. 62 1, 359, 510. 74 142,914.85 9,044. 30 24, 432. 62 35,354. 66 * These totals include the amount of $3,533,912 transferred between depository ofl^ces. 2 2,397. 58 12,807. 59 4,229.71 21,836.64 4,551. 49 24,334. 99 9,946.90 1,044.08 4,783.19 86.84 119,285.01 5,830.98 20,967.48 23,263.18 2,500 7,500 21,480 10,320 16,240 840 9,900 3,220 9,220 24,600 A minus sign denotes decrease. 00 so 140 REPORT OF THE COMPTROLLER OF THE CURRENCY SCHOOL SAVINGS BANKING According to information compiled by the savings bank division of the American Bankers Association the net savings of school children in 12,678 reporting school savings banks in the continental United States on June 30, 1927, aggregated $9,464,178.93, and showed an increase of $693,447.88, or 7.9 per cent since June 30, 1926. The number of pupils enrolled in schools having a school savings system was 4,658,156, an increase of 7.8 per cent; the number of pupils participating in school savings, 3,815,785, increased 12.1 per cent, and deposits aggregating $23,703,436.80, were 15.7 per cent more than on June 30, 1926. Bank balances at the close of the current fiscal year were $39,137,073.91, and exceeded by $7,153,021.28 the amount reported a year ago. Statistics relative to school savings banks in the 45 reporting States and the District of Columbia for the fiscal years ended June 30, 1926, and 1927, with comparative yearly totals beginning 1920, are shown in the following table: School savings by States, 1925-26 and 1926-27 Number of schools Number participating Deposits Net savings States 1926-261926-27 1926-26 Alabama Arkansas California Colorado Connecticut Delaware Dist. of ColumbiaFlorida Georgia Idaho Illinois Indiana Iowa. Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri , Montana , Nebraska Nevada New Hampshire... New Jersey , New York North Carolina North Dakota Ohio , Oklahoma... Oregon , Pennsylvania Khode Island , South Carolina South Dakota Tennessee , Texas Utah Vermont , Virginia Washington West Virginia Wisconsin Total 11 1,765 44 54 29 114 2 512 314 233 54 205 86 133 87 967 426 490 9 117 442 1,058 40 601 55 107 1,544 307 16 53 18 97 246 121 331 31 7 2,223 26 493 43 51 29 101 2 510 272 223 70 205 90 232 91 987 453 503 139 7 73 61 553 9,515 1,489 214,903 95,127 26,097 6,409 13,261 44,259 192 137,118 86,222 64,677 17,662 55,017 34,439 19, 259 34,613 206,924 128,077 153,568 2,125 66,919 2,432 32,008 134,184 547,149 17,265 601 220,101 56 13,615 118 41,238 1,799 493,820 315 82,590 16 3,043 51 86 ""26," 149 43 4,987 16 20 2,351 72 32,408 266 113,658 162 29,195 347 189,581 1926-27 1925-26 1926-27 1925-26 1926-27 $9,229.09 7,845 $27,460.36 $18,628.45 $37,362.40 1,658.47 2,836.18 6,841.17 8,409.14 2,300 283,476 1,022,380.89 1,288,512.37 631,255.09 795,901.68 6,371.30 5,216.60 6,401.30 150 5,216.60 785,721. 28 440,035.56 497,231. 71 99,136 683,122.69 76,662. 29 206,394. 59 39,174.21 17,658 202,998.48 46, 795.04 38,333. 53 6,172 46,795.04 38,333. 53 54,724.12 93,600. 79 15,589 107,515.30 18,763.05 202,277. 67 69,218. 57 30,990 199,140.94 39,400.77 1,007.14 562.32 343 817.22 752.25 145,591 1,153,317.00 1,205,711.00 342,843. 91 297,312.92 88,185 607,851.64 650,873. 58 236,423.18 157, 770.19 64,510 403,495.50 117,680.28 391,810.30 85,178.01 28,036.17 20,650 111, 130. 62 90,691.79 44,701.85 32,925.78 47,241 234.391.38 228.138.09 38,353.65 12,682. 54 99,802. 25 74,124.22 99,802.25 50,024. 77 105,525. 53 26,542 53,451.15 85,434.77 90, 900. 73 128,667. 95 122,832.01 39,331 90,161.39 215,790 1,302,569.21 1,390,518.39 830,591.49 806,897.85 775,908. 93 273, 257. 97 215.042.14 136,853 781,029.46 640,026. 79 382,785.04 207,052.81 158,244 616,710.01 11,816.64 12,807.01 1,907 21,974.28 4,826.23 303,965.43 91,028.94 271,987.97 57,517 93,791.89 5,614.74 13, 714.64 2,414 9,417.07 6,225.33 34,436.47 224.851.10 214.005.39 35,257 34,922.99 492.23 400 138. 59 2,262. 27 13,043.43 4,200.32 2,866 9,605.84 284,477 1,253,588.96 1,593,616.50 559,852.58 638.374.15 660,372 2,847,332.68 3,654,388. 641,784,346.74 2,277, "577,277.42 55,844. 22 17,363.63 17,237 43,258.63 15,330. 30 4,703.76 3,082. 69 227,973 1,463,537.48 1,623,743.70 520,998.92 520,094.39 136,726. 51 48,603.76 103,935. 57 18,048 63,812.09 275,914.08 144,913.73 125,819.25 54,462 184,119.30 L, 168,943.59 572,956 3,555,582. 78 4,163,098.22 888,860.451; 940,233.00 218,460.11 190,575.07 84,462 858,565.99 15,849. 51 9,939.10 3,815 9,546.76 8,946.76 64,096.84 43,781.92 9,919 207,742.67 ~~46,~125.~35 42,740.28 35,375 """l59,"486."67 62,910.02 41,970.95 17,474 12,298.68 17,696.56 16,368. 58 11,889.14 2,810 9,010.04 7,622.46 1,134 8,707.62 6,933.14 205,838.90 26,617. 42 202,385.48 31,953.54 32,706 919,432.44 323,469.47 793,762.97 119,927 368,803.03 202,268.02 167,450.23 40,592 52,986. 21 67,076.49 591,020.90 171,216.99 120,713.98 572,412.96 85,800 11,371 12,678 3,403,746 3,815,785 20,469,960.88 23,703,436.80 8,770,731.05 9,464,178.93 REPORT OF THE COMPTROLLER OF THE CURRENCY School savings by States, 1925-26 and Totals, United States 1926-27—Continued Number Number of participatschools ing 12,678 11,371 10,163 9,080 6,868 4,785 3,316 2,736 1926-27 1925-26 1924-25 1923-24 1922-23 1921-22 1920-21 1919-20 141 Deposits 3,815,785 $23, 703,436. 80 3,403,746 20, 469, 960. 88 2,869,497 16,961, 560. 72 2, 236, 326 14,991, 535. 40 1,907,851 10,631,838.69 1,295, 607 5, 775,122. 32 802,906 4,158,050.15 462, 651 2,800, 301.18 Net savings $9,464,178.93 8,770,731.05 7,779,992. 55 8, 556,991.27 SAVINGS B A N K S I N P R I N C I P A L COUNTRIES OF T H E WORLD Statistics compiled by the finance and investment division of the Bureau of Foreign and Domestic Commerce, Department of Commerce, relative to savings banks, including postal savings banks, in the principal countries pf the world, on specified dates, supplemented by information obtained from reports received in the currency bureau from other sources, are shown in the statement following. Savings banks, including postal savings banks, number of depositors, amount of deposits, average deposit per deposit account and per inhabitant, by specified countries Country Population 1 Argentina Australia Austria Belgium Bolivia British Malaya Brazil Bulgaria. Canada .„, Chile China Costa Rica Cuba Czechoslovakia Danzig (Free City of) Denmark. Ecuador _ Egypt... Estonia Finland France Germany. _ Greece Guatemala Honduras India" Italy Japan Latvia Lithuania Mexico 2« Netherlands „ New Zealand Nicaragua North Ireland Norway Palestine 9,548,092 5,496, 704 6, 526, 661 7, 600, 000 2,820, 074 1,324, 890 30, 635, 605 4,958, 400 8,788,488 3,805,000 350,000, 000 485, 049 3,123, 040 13, 613,172 « 364, 380 3,352, 000 1,500,000 13,551, 000 1,110, 538 3,366, 507 39,402, 000 59, 858,284 5,447,077 2,119,165 673,408 319, 075,132 38,835,941 58,481,500 1,885,870 2,011,173 13,887,080 7,086, 913 1,274,000 638,119 1,288,000 2,649, 775 755,858 Number of banks Date of report reporting 2 110 Dec. 31,1925 5 doo 37 Mar. 31,1926 * 2,360 Dec. 31,1925 do. Jan. 1,1926 Dec. 31,1924 13 Jan. 1,1926 /Dec. 31,1924 01) \Mar. 31,1926 3 3, 626 Apr, ],1926 1925 340 (I4) () 1925 /Dec. 31,1925 5,317 \Mar. 31,1926 Dec. 31,1925 197 Jan. 1,1926 do 16 do 4T Apr. 1,1926 2 1, 563 Mar. 1,1926 Dec. 31.1925 Jan. 1,1926 /Dec. 31,1925 19 \Mar. 31,1926 12 Jan. 1,1926 do. 2 10, 535 Mar. 31,1924 11, 075 Jan. 31,1926 May 31,1926 478 Apr. 1,1926 504 Jan. Form of savings bank Federal, commercial, and postal Savings, commercial, Federal, and State __. Governmental, postal, and private Postal, semiofficial, and commercial National, private, commercial, and mortgage Federal, postal savings Federal" , _ Postal, governmental, private f Postal, governmental, commercial, private, trust, \ provincial. Federal Postal _ ^Commercial, state and private Public Sayings and private Private, trustee, and commercial Postal and commercial Governmental and private Postal, private, and joint stock Postal and governmental State and municipal Postal, governmental, and private Communal, commercial, and privatePrivate. Postal savings Postal and semiofficial24. Postal Postal, governmental, municipal, private, and commercial. 1,1926 Governmental, private,and mutual Postal and commercial Postal savings27 Federal, private, and commercial. /Dec. 31,1924 •Postal and trustee. \Dec. 31,1925 Jan. 1,1926 Commercial and savings. do Commercial — 10 1,667 855 Dec. 31,1925 do Number of depositors 4,071,140 » 4,210,546 7 8,465 40,075 785,796 Unknown, (if) 1,325,454 51,565 16,883 6,150,000 "7,494 323,094 40,353 (19) 20 17,000,000 282, 906 "2,071 2,089,314 31,914,679 36,798 Deposits 3 $597,393,000 898, 963,808 86,488, 913 •162,041,633 « 4,192, 609 3, 512. 534 48, 212, 260 i«l,843,574 1, 500, 538,547 « 20,631,435 4,971, 270 46, 280, 761 1,779,402,000 2,832,000 i« 291,100,000 18 1,273,858 13,741,175 17,302, 588 71,376,200 20 607,888,000 21 484,693,000 18,848,792 23 1,772,447 616,332 89,238,000 871,735,000 540,480,783 16,136,000 Average Average deposit ac- deposit per incount habitant $220.80 38.48 495.29 87.65 61.35 15.57 96.41 2, 741.26 289.33 $62.57 163.54 13.25 21.32 1.49 2.65 1.57 .37 170.74 5.42 .01 14.82 130.71 16.94 438.50 7.77 86.84 .85 1.01 15.58 21.20 15.43 8.10 3.46 .84 .92 .28 22.45 9.24 8.56 169.98 42.53 428.78 35.76 66.63 855.84 42.71 4,126,057 2.05 2e 2, 537,448 735,148 365 » 195,480,818 224,355,756 77.04 305.18 242.56 27.58 176.10 .14 208,232 42,743,000 28 28,050,000 12,350,000 205.27 33.19 10.59 16.34 Panama.-----PolandPortugal Salvador * Siam South Africa Sweden Uruguay United Kingdom Foreign countries, total United States and possessions Philippines Grand total 442, 522 29,160,163 5, 628, 610 1,550,000 9,322,000 ---•_ 6,729,382 5,987, 520 1,603,000 44,147,601 do Dec. 31,1925 Jan. 1,1926 Jan. /Mar. \Dec. 530 Jan. 1,131, 909,693 39,431 118,7 4,000 11,100,000 381,461 1,261, 713,693 1 Federal and commercial Savings, cooperative, private, and governmental-. Postal, governmental, private, and commercial29.. 81 1,1926 Governmental 31,1926 31,1924 (•Postal, commercial, and building societies 1,1926 Communal, private, postal, and commercial. Commercial381925 Postal savings, railway banks, building societies, trustee savings banks, national savings certificates. /Postal savings system.. June 30,1927 1 Mutual and stock d o . . . . . . Postal 5,651 3, 47,559 97,445,820 36,291,185 539.30 331, 033,337 55,893,227 3« 920, 577,110 48,852,538 4,431, 684,438 80.74 147.77 175.57 309.56 77,635,711 411,394 14,814,271 198, 054 14,285, 525,897 147,359, 000 9, 738, 902, 000 3, 009,888, 000 184.01 358.19 657.40 15.20 12.62 1.24 82.04 .27 93, 059,430 24,174,797,039 259.78 19.16 3212,798 ** 378,249 5,243,375 157,812 (37) 3.34 6.45 .11 8.31 153.75 30.48 100.38 1 Population figures taken from World Almanac for 1925. Branches. Conversions have been made at average rates for year preceding or covered by report; par has been used in case of Australia, Egypt, Germany, Finland, Netherlands, North Ireland, Sweden, Uruguay, Nicaragua, Chile, Palestine, Canada, South Africa. Other conversions made at the following rates: Argentina, 1 peso=$0.914; Austria, 7 shillings=$l; Belgium, 1 franc=$0.0476; Bolivia, $1=2.88 bolivianos (rate for Dec. 31,1925); Brazil, 1 milreis=$0.11; Bulgaria, 1 lei=$0.007317 (average rate, 1925); China, $Ml=$0.55 (average rate for 1925); Czechoslovakia, 1 crown=$0.0297; Danzig, 5.19 gulden=$1; Denmark, $l = Xr.4.05; Ecuador, 1 sucre=$0.22 on Jan. 1,1926; Estonia, ; France, 1 franc=$0.0477; Greece, 1 drachma=$0.0156; Finland, $1=39.70 marks; Honduras, $1=2.12 pesos; India, 1 rupee=$0.36; Italy, 1 lira=$0.0404; Japan, yi=$0.47; New Zealand, £=$4.77%; Norway, $l = Kr.4.92; Panama, United States dollar; Poland, 1 zloty=$0.1774 (average rate for 1925); Portugal, 1 escudo=$0.0514; Siam, 1 tical=$0.45; British Malaya, Strait $1 =$0.5678. 4 22 Approximate; includes branches and postal-savings agencies. In addition,. . . itors. • Depositors in postal and semiofficial banks only. 23 In addition, $1,983,680 in time deposits. 24 6 Of this sum $139,836,710 represent deposits in postal and governmental institutions. Data not available on savings deposits in commercial banks. Figures on commercial banks incomplete. " There are no savings banks in Mexico. 26 7 Figures incomplete. In addition,l,178 time depositors. 27 There are 5 private sayings banks with deposits totaling $27,430,655 on Dec. 31,1925. «In addition, $20,537,563 in time deposits. 28 There are, in addition,time deposits to the extent of $364,680,000. Thesefiguresinclude • Commercial banks may accept savings deposits only on special authorization. 5 banks in liquidation with savings deposits of $1,373, 00 and time deposits of $19,979,000. "11 In addition, $56,768,944 in time deposits. 29 Includes only 22 private banks and 9 commercial banks. There are 1,379 postal-savings branches. 12 30 No savings banks in Salvador. There are 79,167 depositors in postal-savings banks, with deposits totaling $23,072,394, 31 Treasury savings banks. " There are, in addition, time deposits in Federal banks amounting to $9,939,810. 14 32 Includes time depositors. No figures available. 33 Includes time deposits. " Figures for private banks unobtainable. 34 Includes only depositors in postal and savings banks and members of building w In addition to these banks, the 193 private banks held time deposits to total of societies. $246,600,000. 17 3* In addition, there are 498,603 time deposits, totaling $539,812,211. In addition, 1,513 time depositors 36 Figures for railway banks for 1924; for national savings certificates, for Mar. 31,1926. « I n addition, $8,177,834 in time deposits. 37 19 Unknown. There are 12,431,373 postal deposits and 2,340,644 Total notknown, but depositors in private savings banks numbered 553,913, with ,___,_._,,,.... ^ .,. .,. trustee savings-bank total20deposits of $53,841,300; and in postal savings banks 136,213, with depositsof $4,257,800. depositors with deposits of £285,491,388 and £142,179,367, respectively. 88 Approximate figure. Refers to mutual and stock savings only. 21 There are, in addition, time deposits to the extent of $216,900,000. Information not available in following countries: Hong Kong, Jugoslavia, Rumania, Turkey. 2 3 1 O O o 3 o 00 144 REPORT OF THE COMPTROLLER OF THE CURRENCY RESOURCES OF LEADING FOREIGN BANKS OF ISSUE The total resources of 33 foreign banks of issue converted at the existing rate of exchange on or about June 30, 1927, were $14,588,485,000, in comparison with resources of $12,419,965,000 reported by 32 foreign banks on June 30, 1926. The statement following, prepared by the Federal Reserve Board, shows total assets of the 33 banks of issue on the dates indicated, designation of their local currency, total amount of assets, rates of exchange, and total assets converted at rate of exchange on given dates: Total assets of principal central banks about June 80> 1927 [In thousands of local currency and of dollars] Date Austria Belgium Bulgaria Czechoslovakia.. Danzig Denmark Egypt England Estonia Finland France Germany Greece Hungary Italy Latvia Lithuania Netherlands Norway Poland Portugal Rumania Russia Spain Sweden Switzerland Yugoslavia Chile Peru Uruguay Japan Java South Africa . Local currency- June 30 Schilling.... June 23 Belga June 30 Lev do Crown ..do. Gulden -do. Kroner .do. Egyptian pound. June 29 Pound June 30 Estmark ...do.... Markka Franc ...do.-.. Reichsmark. .. June 15 Drachma June 30 Pengo ...do.-.. Lira June 29 Lat June 30 Litas June 27 Florin ___ June 30 Kroner . - d o . . . . Zloty do Escudo June 25 Leu May 1 Chervonetz. June 25 Peseta ___ June 30 Krona ...do Franc _^ ...do.. Dinar. ...do-.. June 25 ...do ...do.... Peso... Libra.. Peso... Yen. Florin.. Pound. Total assets Rate of converted Total assets exchange on at sate of given date exchange on given date 1,281,033 2,104,514 8,336,148 53,589 503,881 69,061 282,839 8,094,212 2,494,799 68,276,203 5,346,196 9,818,722 944,045 26,717,778 169,764 881,112 528,743 1,111,323 4,186,200 31,818,593 343,430 5,836,736 751,681 963, 256 9,705,373 664,842 7,281 179,865 2,607,583 408,623 16,496 Total.. Cents 14.0650 13.89 .7207 2.9621 119.47 26.72 497.80 485.53 1.2680 2.5190 3.91 23.69 1.347 17.44 5.52 i 19.30 i 10.00 40.06 25.85 11.21 5.03 .5952 515.00 16.88 26.80 19.25 1.7560 12.04 374.00 99.87 47.20 40. 21875 1486.65 180,177 292,317 60,079 257,390 10,434 134,637 343,786 1,373,268 21,692 62,844 2,669,600 1,266,514 132,258 164,641 1,474,821 39,350 16,976 352,973 136,680 124,579 210,566 189,384 1,768,665 985,241 201,451 185,427 170,426 80,047 27,231 179,631 1,230,779 164,343 80,278 14,588,485 i Par of exchange, as no quotation available on given date. EXPENSES OF T H E CURRENCY BUREAU By reference to the table following, showing in detail expenses relating to the maintenance of the Currency Bureau for the fiscal year ended June 30,1927, it will be noted that the aggregate expenses were $5,493,325.07, of which $1,054,349.42 were paid from appropriations and $4,438,975.65 reimbursements by the banks. The salary rolls aggregated $469,762.96, of which $217,391.77 were paid from appropriations and the remainder from funds reimbursed by the banks. 145 REPORT OF THE COMPTROLLER OF THE CURRENCY Taxes paid by national banks on circulating note issues amounted to $3,253,461.97. Deducting from this amount the expenses of the bureau paid from congressional appropriations, $1,054,349.42, leaves the net income to the Government on account of the tax on circulation at $2,199,112.55. Expenses incident to maintenance of Currency Bureau and net income derived by Government from taxes on national-bank notes, fiscal year ended June 30, 1927 Expenses Expenses paid from ap- reimbursed propriation by banks Salaries: Regular roll, including retirement deductions National currency reimbursable roll, including retirement deductions Federal reserve issue and redemption division, including retirement deductions Insolvent national-bank division, including retirement deductions Total salaries General expenses: Printing and binding „ Stationery Amount expended for light, heat, telephone, telegraph, furniture, labor-saving * machines, etc., partially estimated Special examination of national banks, repairs to macerator, etc Total general expenses Currency issues: National-bank notes— Paper Printing, etc.. Plates (reimbursed) Federal reserve n o t e s Paper _ Plates, printing, etc Total currency issues Expenses on account of national-bank examining service paid by banks Postage on shipments of national-bank notes Postage on shipments of Federal reserve notes Insurance on shipments of national-bank notes Insurance on shipments of Federal-reserve notes Total expenses paid from appropriations.. Total expenses reimbursed by banks Total expenses Total expenses $217, 391.77 $61,121.68 50, 575.09 140,674.42 28,922.67 8, 541. 22 7, 651. 51 2, 409.85 1,411.83 5, 567.83 $469,762.96 1,273.15 55,778.06 103,312.47 693,496.31 62,302.66 304, 056.90 1, 254, 554.10 2,291,408.48 85, 818.21 83,757.23 22,916.83 66,160.86 1,054,349.42 4,438,975.65 Tax paid by national banks on circulating notes.._ Total expenses of Currency Bureau paid from congressional appropriations Net income to Government from taxes on circulation 2,417,722.44 2,291,408.48 85, 818.21 83,757.23 22,916.83 66,160.86 5,493,325.07 $3,253,461.97 1,054 349.42 2,199,112.55 Respectfully submitted. J. W. MCINTOSH, Comptroller of the Currency. To the SPEAKER OF THE HOUSE OF REPRESENTATIVES. APPENDIX 147 DIGEST OF DECISIONS BELATING TO NATIONAL BANKS The following Federal cases were reported in volumes 272 to 274, United States Reports, and volumes 15 to 21, Federal Reporter, second series. In addition to the Federal cases one case each has been taken from, the New York Supplement, the Northwestern Reporter, the Pacific Reporter, and the Washington, D. C , Reporter. In addition to the cases above referred to there have been added references to a number of decisions of State courts, of particular interest to banks, for the year ended November 15, 1927, which were furnished this office by Mr. Thomas B. Paton, the general counsel for the American Bankers Association. These decisions are given in Paton's Digest, reference to which is made in each case. * CHECKS Cross references: Pag® Exchange 156 Payment—Creditor's acceptance of check, which was not paid, held not to extinguish debt. (U. S. C. C. A. 1927.) Debt held not extinguished by creditor's acceptance of check, which w a s not paid. (Cleve. et al. v. Craven Chemical Co. et al., Craven Chemical Co. v. Federal Reserve B a n k of Richmond et al., 18 Fed. Rep. 2d series, 711.) Payment—Absent special agreement, acceptance of check is not " payment," unless check is paid. (U. S. C. C. A. 1927.) I n t h e absence of special agreement to t h a t effect, acceptance of a check does not operate a s " p a y m e n t " of a debt, unless the check itself is paid. (Ib.) Payment—Agreement to accept check as absolute payment is not implied from surrender of evidences of debt or giving of receipt. (U. S. C. C. A. 1927.) An agreement t h a t a check is t o be received in absolute p a y m e n t is not to be implied from the fact t h a t on its receipt evidences of debt a r e m a r k e d " paid," and surrendered, or a receipt given. (Ib.) Payment—Check given in payment for debt, in exchange for which drawee bank gave exchange draft, which was not paid, held not " paid," $o as to extinguish debt (Pub. Laws N. C. 1921, c. 20, § 2). (U. S. C. C. A. 1927.) W h e r e check given in payment for debt w a s forw a r d e d by F e d e r a l reserve bank into whose h a n d s it came to drawee bank, which remitted by exchange d r a f t on reserve funds of drawee in a n o t h e r bank, which exchange draft w a s not paid before closing of d r a w e r bank, held, original check given in payment for debt w a s not " paid," so as to extinguish debt, in view of Public L a w s N o r t h Carolina, 1921, chapter 20, section 2, authorizing a d r a w e e bank to pay checks by exchange drafts, unless cash payment is specified by d r a w e r . (Ib.) ACCEPTANCE OF C H E C K BY CREDITOR, W H I C H WAS EXTINGUISH DEBT NOT PAID, HELD NOT TO Bills and notes—Generally acceptance of draft representing proceeds of check operates as payment thereof, discharging drawer. (U. S. C. C. A. 1927.) Generally acceptance of a d r a f t representing proceeds of check operates as payment of check and discharges d r a w e r of check from further liability. (Ib.) 149 150 REPORT OF THE COMPRTOLLER OF THE CURRENCY Bills and notes—Absent statute, oheck is payable in cash, and acceptance of something else estops payee to deny payment. (U. S. C. C. A. 1927.) In absence of statute, cheek is payable only in cash, and if holder accepts something other than cash he assumes the risk incident thereto, and is estopped to deny payment as against drawer. (Ib.) Payment—Creditor's acceptance from debtor of third persons check is conditional payment only, in absence of special agreement. (U. S. C. C. A. 1927.) In the absence of any special agreement, the mere acceptance by a creditor from his debtor of the check of a third person payable to the creditor's order for a pre-existing debt is not absolute, but merely conditional, payment, defeasible on dishonor or nonpayment of the check. (Ib.) Payment—Creditor, accepting check not paid, held not precluded from proceeding against debtor, or required to look to bank receiving check for payment. (U. S. C. C. A. 1927.) Creditor's acceptance of check, which was not paid, held not to preclude it from proceeding against debtor, or require it to look to bank with which it deposited check for collection. (Ib.) Federal reserve bank held not negligent in collection of check, in accepting exchange draft, or failing to require check bearing "I. 0." (immediate credit) Symbol (Pub. Laws N. C. 1921, c. 20, § 2). (U. S. C. C. A. 1927.) Federal reserve bank, receiving for collection check drawn on North Carolina bank, held not negligent in accepting exchange draft in payment, as it was required to do by Public Laws North Carolina 1921, chapter 20, section 2, nor in failing to require payment by check bearing the " I . C." (immediate credit) symbol. (Ib.) Payee held not entitled to recover for alleged negligence of bank in collecting check, where no damage was shown. (U. S. C. C. A. 1927.) Payee of check held not entitled to recover for alleged negligence of collecting bank, where full recovery was had against debtor and no damage shown. (Ib.) PAYMENT OF CHECKS ON TRUST FUNDS Trusts—One mingling own and trust's funds in personal banJc deposit is presumed to have first drawn out own funds on check for personal debt. (U. S. C. C. A. 1926.) Agent or trustee, depositing trust funds to his own personal credit and mingling them with his personal funds, and thereafter drawing checks on the deposit in payment of his personal debts, will be presumed to have first drawn out his own money, leaving that belonging to the trust fund. (Commercial National Bank of Independence, Kans., v. Stockyards Loan Co.; Stockyards Loan Co. v. Commercial National Bank of Independence, Kans., 16 Fed. Rep., 2d series, 911.) Trusts—Mortgagor, in selling mortgaged cattle and depositing proceeds in his personal account, occupied fiduciary relation to mortgagee. (U. S. C. C. A. 1926.) In selling mortgaged cattle and depositing the proceeds in his individual account, mortgagor must be held to have acted as agent or trustee for mortgagee, thus occupying a fiduciary relation to it as respects the money. (Ib.) In view of mutual indulgence of balances, bank without notice of beneficial ownership held not liable to one whose funds agent deposited in own name and used to pay agent18 preexisting debt to bank. (U. S. C. C. A. 1926.) There being a mutual indulgence of balances between bank and depositor, in which his deposits in his own name of proceeds of cattle which he had mortgaged played no inconsiderable part—that is, it having extended credit to him by reason of said deposits along with others, and changed its position by reason thereof—it, having had no notice of the beneficial ownership thereof, is not liable to the mortgagee for such funds used by the depositor to pay his preexisting debt to it. (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 151 Equity—Ultimate facts, which must be drawn from primary facts found by master, will be treated as found. (U. S. C. C. A. 1926.) Though master specifically found only primary facts, ultimate facts, which can and must be drawn therefrom, will be treated as found. (Ib.) Appeal and error—Masters findings, approved by trial court, are not disturbed when not clearly against weight of evidence. (U. S. C. C. A. 1926.) Findings of master, approved and confirmed by trial court, are presumptively correct, and will not be disturbed, unless clearly against the weight of the evidence. (Ib.) COLLATERAL SECURITIES Cross references: Insolvency and receivers— South Dakota State banks held without power to put up collateral securing rediscounted notes Page 171 COLLECTIONS TITLE TO CLAIMS DEPOSITED W I T H BANK FOR COLLECTION Forwarding bank can recover against correspondent bank, accepting draft without recourse, for checks forwarded for collection. (U. S. C. C. A. 1926.) Where correspondent bank in collecting checks forwarded to it, accepted draft without recourse, and surrendered checks to drawee bank, forwarding bank was entitled to recover therefor, on failure to drawee bank before presentation of draft. (First National Bank of Rigby, Idaho, v. First Utah National Bank of Ogden, 15 Fed. Rep. 2d series, 913.) Bank becomes owner of paper unrestrictedly indorsed for deposit, notwithstanding custom or agreement to charge paper back to depositor in event of dAs~ honor. (U. S. C. C. A. 1926.) On deposit of paper unrestrictedly indorsed and credit of amount, bank becomes owner of paper, notwithstanding custom or agreement to charge such paper back to depositor in event of dishonor. (Ib.) Bank, receiving checks for collection, is liable for failure to collect because of negligence of any bank to which it transmits checks. (U. S. C. C. A. 1926.) Bank, in receiving checks for collection, must not only use due care, but is also liable for failure to collect, resulting from negligence of any bank to which it transmits checks for collection. (Ib.) Bank, as collecting agent, has no authority to accept anything for debt of principal, except legal tender. (U. S. C. C. A. 1926.) A bank is collecting agent, without authority to accept anything for debt of principal, except that which the law declares to be legal tender, and is responsible for any resulting loss on surrender of paper on payment of anything except cash. (Ib.) Trial—Request for directed verdict by both parties submits determination of disputed facts to court. (U. S. C. C. A. 1926.) Request for directed verdict by both parties submitted to court ascertainment and final determination of disputed facts. (Ib.) Appeal and error—On appeal from directed verdict, after request therefor by both parties, appellate court is limited to determination of whether law was correctly applied. (U. S. C. C. A. 1926.) On appeal from directed verdict, after request therefor by both parties, appellate court may review controverted facts, but may determine whether there was error in application of the law. (Ib,) 71284°—28 11 152 REPORT OF THE COMPTROLLER OF THE CURRENCY Collecting bank, if solvent, may mingle proceeds of draft with general assets, (U. S. D. C. 1926.) Where draft is sent by one bank to another for collection, collecting bank, in absence of express agreement, has implied authority to mingle proceeds with its general assets, thereby creating relation of debtor and creditor, unless it is insolvent. (First National Bank of Ventura v. Williams, 15 Fed. Rep., 2d series, 585.) When proceeds of draft can be recovered. (U. S. D. C. 1926.) One who has forwarded draft to bank for collection may recover proceeds, if they can be traced or identified, where collecting bank was insolvent to knowledge of officers at time of collection. (Ib.) Money of insolvent bank, including proceeds of draft sent to it for collection, map be held in trust pending equitable separation for defrauded party, if bank's funds were increased by such proceeds. (U. S. D. C. 1926.) Where bank, with knowledge of insolvency, mingles proceeds of draft sent to it for collection with its money, whole may be held in trust till equitable separation is made for defrauded party, provided bank's funds were increased by such proceeds. (Ib.) Bank's use in clearance of cheek received in collection of draft held not to place cash m bank, so as to create trust fund for amount of draft. (U. S. D. C. 1926.) Bank's collection of draft, which brought check, which was used in clearance to pay checks drawn on it, held not to place any cash in bank, so as to create trust fund for amount of draft; such check being used to reduce liabilities, not to increase assets. (Ib.) Trial. (U. S. D. C. 1926.) Courts must decide cases, not on suppositions, but on facts as proven or admitted. (Ib.) COMPTROLLER OF CURRENCY In case of injury threatened by the illegal action of a Government official he can not claim immunity from- injunction process on the ground that the suit is one against the United States. (D. C. Sup. 1916.) The exemption of the United States from suit does not protect its officers from personal liability to persons whose rights or property they have wrongfully invaded; and in case of an injury threatened by the illegal action of a Government official he can not claim immunity from injunction process on the ground that the suit is one against the United States. (Riggs National Bank of Washington, D. C. v. John Skelton Williams, Comptroller of the Currency; William Gibbs McAdoo, Secretary of the Treasury; and John Burke, Treasurer of United States; Washington Law Reporter, vol. 44, p. 434.) Validity of action of the Comptroller of the Currency in hnposmg penalties upon a bank for alleged failure to file certain reports called for by him may be inquired into by the court. (D. C. Sup. 1916.) The validity of the action of the Comptroller of the Currency in imposing penalties upon a bank for alleged failure to file certain reports called for by him may be inquired into by the court and if found unwarranted by law the payment of interest on bonds of the bank withheld for the purpose of meeting the penalties assessed may be compelled. (Ib.) The Comptroller of the Currency acts within his powers where he determines that penalties shall not be assessed against a bank in a particular case. (D. C. Sup. 1916.) The Comptroller of the Currency acts within the powers conferred upon him by law where upon a review of the entire situation he determines that penalties should not be assessed against a bank in a particular case. (Ib,) REPORT OF THE COMPTROLLER OF THE CURRENCY 153 The fact that the comptroller waived the right to assess a penalty will not preclude the court from passing upon the right of the comptroller to assess such penalties. (D. C. Sup. 1916.) Where, however, at the time a suit for an injunction was filed it appeared that the comptroller had not only assessed penalties of $5,000 against the plaintiff bank and directed the withholding of interest on bonds with which to meet such penalties, but was also claiming that certain reports made by the bank were unsatisfactory and that penalties of $100 a day were being incurred by the bank, the fact that in response to the bill the comptroller made affidavit that reports having been made to all the calls, although not within the time prescribed by law, he did not intend to assess any penalties other than the $5,000, and waived the right to assess any other penalty on such calls, will not preclude the court from passing upon the right of the comptroller to assess such penalties. (Ib.) Equity jurisdiction. (D. O. Sup. 1916.) In such a case, equity has jurisdiction because of its being alleged that property rights are being threatened by acts of a Federal officer claimed to be unlawful which if not restrained will lead to a multiplicity of suits. (Ib.) Secretary of the Treasury can not "be restrained from withdrawing Government deposits from a national bank. (D. C. Sup. 1916.) The matter of the deposit in bank of public funds is one within the uncontrollable judgment of the Secretary of the Treasury, and his action in that regard could not be restrained even though he should threaten the withdrawal of deposits with the hope that by so doing he would injure a particular bank. (Ib.) A bill in equity against the Comptroller of the Currency, Secretary of the Treasury, and Treasurer of the United States to have declared illegal the action of the comptroller in assessing certain penalties against the plaintiff bank, to enjoin the threatened assessment of further penalties, and charging a conspiracy on the part of the defendants to injure the bank does not state a cause of action against the Secretary of the Treasury. (D. C. Sup. 1916.) A bill in equity against the Comptroller of the Currency, Secretary of the Treasury, and Treasurer of the United States to have declared illegal the action of the comptroller in assessing certain penalties against the plaintiff bank, to enjoin the threatened assessment of further penalties, and charging a conspiracy on the part of defendants to injure the bank, held not to state a cause of action against the Secretary of the Treasury, and the bill dismissed as to him unless he should be a necessary party in order to give relief by way of directing the payment of interest on bonds of the bank withheld because of the penalty assessed by the comptroller. (Ib.) Special reports required by the Comptroller of the Currency from national banks under section 5211 are required to show what the comptroller may m his judgment deem necessary to a full a/rvd complete knowledge of the bank's condition. (D. C. Sup. 1916.) Section 5211, Revised Statutes, United States, authorizes the Comptroller of the Currency to require from banks, in addition to the five reports as to resources and liabilities therein provided for, special reports from a particular bank, and such special reports are required to show what the comptroller may in his judgment deem necessary to a full and complete knowledge of the bank's condition, and are not to be confined to a mere statement of resources and liabilities as are the five general reports provided for. (Ib.) Any inquiry made by the Comptroller of the Currency for the purpose of informing himself as to the management of a national bank lawful under section 5211. (D. C. Sup. 1916.) Section 5211, Revised Statutes, United States, construed to make lawful any inquiry by the comptroller for the purpose of obtaining information, not only as to current items on the books of the bank, but also for the purpose of informing himself generally as to the management of the bank. (Ib.) 154 KEPORT OF THE COMPTROLLER OF THE CURRENCY When acts not held arbitrary. (D. C. Sup. 1916.) Whether official action is so arbitrary as to amount to a total lack of authority is a mixed question of law and fact. An act can not be held arbitrary if it is reasonably related to a particular lawful purpose or unless the court can say the means have no reasonable relation to the end. (Ib.) Comptroller not authorised to demand reports of condition be verified by persons designated by him to sweat* to them. (D. C. Sup. 1916.) The calls for reports made by the comptroller in the present case held lawful, but that officer held not authorized to demand that such reports be verified by the persons designated by him to swear to them. (Ib.) Where comptroller has called for a report not verified and attested as required by law he can not lawfully assess a penalty. (D. C. Sup. 1916.) Held, therefore, that the comptroller having called for a report not verified and attested as provided in the statute could not lawfully assess a penalty for a failure to comply with the demand made by him. (Ib.) Except for the purpose of compelling payment of the interest due the plaintiff bank and retained to meet the penalties unlawfully assessed by the comptroller, and of enjoining the assessment of other penalties for failure to comply with the demands for reports, the bill dismissed as to all of the defendants. (D. C. Sup. 1916.) Except for the purpose of compelling payment of the interest due the plaintiff bank and retained to meet the penalties unlawfully assessed by the comptroller, and of enjoining the assessment of other penalties for failure to comply with the demands for reports, the bill dismissed as to all the defendants. (Ib.) CONSOLIDATION Merger contract between National and State bank held not ultra vires. (U. S. C. C. A. 1926.) Contract of merger between National and State bank held not ultra vires, though national bank assumed liabilities of State bank, which also carried on insurance business. (Bishop v. United States (2 cases) ; Gates v. United States, 16 Fed. Rep., 2d series, 410.) DEPOSITS Cross references: Insolvency and receivers— Rights of persons making deposits after insolvency Deposit of school funds Page 167 168 ATTACHMENT OF DEPOSIT BY CREDITOR Bankrupt's deposit, attached subsequent to issuance and before presentation of check, passed to trustee, on adjudication within four months. (U. S. D. C. 1927.) Bankrupt's deposit, attached by creditor within four months preceding adjudication, the attachment remaining in effect at adjudication, passed to the trustee, notwithstanding the bankrupt's check, issued before the attachment, had been presented and was treated by the bank as valid, subject only to the attachment. (In re Erie Exposition Ass'n, 19 Fed. Rep., 2d series, 524.) Issuing check and crediting it as payment is not " assignment" of deposit, which is attached after issuance and before presentation of check. (U. S. D. C. 1927.) Giving of check, credited on books of the drawer as payment, does not operate as " assignment" of funds on deposit at time check is issued, but which are attached by third person before the bank has notice of the check or demand is made for payment. (Ib.) Drawee bank's return of check unpaid because of attachment of deposit is "refusal of payment" (U. S. D. C. 1927.) The return of check by drawee bank, because of an attachment of the deposit subsequent to the issuance of the check and prior to its presentation to the bank, is a distinct " refusal of payment." (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 155 APPLICATION OF DEPOSIT ON NOTE Bank applying deposits of partnership, which used same account with corporation, to corporation's note, held not liable to surety for partnership for misapplication of funds. (U. S. D. C. 1927.) Where same bank account was used by partnership and by members of partnership constituting corporation, bank which without knowledge of agreement between partners and surety that proceeds of checks w7ere to go to furnishers of material for carrying out partnership's building contract, applied checks payable to partnership to note of corporation, was not liable to surety of partnership on building contract, on theory that it had taken funds of partnership and applied them to corporation's debt. (Fidelity & Deposit Co. of Maryland v. Union State Bank of Minneapolis et al., 2i Fed. Rep., 2d series, 102.) Subrogation—Bank, applying money deposited by contractor on note without knowledge of agreement that it ivas to pay maierialmen, held not liabte to contractor's surety, (U. S. D. C. 1927.) Where surety on public contractor's bond received checks of employer for final amount due contractor, and later surrendered them to contractor, to be deposited in bank on condition that contractor's checks to materialmen should be paid from proceeds thereof, it waived its right of subrogation, and bank, without knowledge of such arrangement, applying proceeds to note of contractor due it, was not liable to surety. (Ib.) Generally bank may set off deposit against loan to depositor at maturity or in case of insolvency or in event of bankruptcy. (U. S. C. C. A. 1927.) Generally, a bank has right to set off deposit made in usual course of business against loans to depositor at maturity or in case of his insolvency, and may do so even in event of bankruptcy. (American Bank & Trust Co. v. Morris, 16 Fed. Rep., 2d series, 845.) Stipulations in notes lield to constitute agreement authorizing bank to appropriate deposits on maturity or insolvency. (U. S. C. C. A. 1927.) Stipulations in notes held to constitute an agreement authorizing bank to appropriate deposits to payment of loans at maturity or in case of insolvency. (Ib.) Deposit applied on notes at maturity may be credited to either of notes secured by same collateral, and balance may be proved, in bankruptcy. {Civ. Code La., art. 2166.) (U. S. C. C. A. 1927.) Where, under terms of notes, collateral attached to one was applicable to all notes held by bank, deposit appropriated by bank and applied on notes could have been credited on either, and the other proved as a debt in bankruptcy proceedings, since Civil Code of Louisiana, article 2166, requiring imputation of deposit as payment to secured debt, has no application. (Ib.) STATE GUARANTY LAWS State bank, operating as " going concern" by guaranty fund commission, held not immune from suit on certificate of deposit. (Laws Nebr. 1925, c. SO, sees. 1, 4; Gomp. 8t. Nebr. 1922, sees. 7982, 8024, 8021; sec. 8028, as amended by Laws 1923, c. 191, sec. 26.) (U. S. C. C. A. 1927.) State bank, organized under Nebraska laws, operated as a " going concern " by the guaranty fund commission under Laws Nebraska, 1925, chapter 30. sections 1, 4, receiving and paying deposits, making loans, and doing all other acts pertaining to the business of a going bank, and charter of which was never forfeited, held not immune from being sued on certificate of deposit issued by it, because operated by agency of State, in view of Compiled Statutes, Nebraska, 1922, sections 7982, 8024-8027, and section 8028, as amended by laws of 1923, chapter 191, section 26; presumption being that term " going concern'' was used in its ordinary acceptance, which is repugnant to idea that corporation ceased to exist. (Metropolitan Savings Bank and Trust Co. of Pittsburgh, Pa., v. Farmers' State Bank of Rosalie, Nebr., et al., 20 Fed. Rep., 2d series, 775.) 156 REPORT OF THE COMPTROLLER OF THE CURRENCY State statutes held not to prohibit suit against dank operated as "going concern" by guaranty fund commission. (Laws Nebr. 1925, c. 30, sees. 1, 4, 5.) (U. S. C. C. A. 1927.) Laws Nebraska 1925, chapter 30, section 4, providing for operation of bank by guaranty fund commission as a " going concern," without any provision changing or taking away any liabilities or powers previously possessed by bank, held not to prohibit actions against the bank on its dishonored obligations while it is so operated; section 1, providing that commission shall conduct affairs of bank and retain possession of its assets for sufficient time to make examination of its affairs and dispose thereof as provided by law, requiring commission within reasonable time to determine whether to operate bank as " going concern " under section 4 or to liquidate it through receivership under section 5, and, only during such preliminary period are bank's assets immune from execution or attachment, even if statute be construed as prohibiting enforcement of judgment by execution of attachment during entire period of operation of bank as a "going concern." (Ib.) Corporations—Appointment of receiver does not prevent actions against corporation, except as such actions are enjoined, or as they affect receiver's (IT. S. C. 0. A. 1927.) Corporate existence of corporation is not affected by the appointment of a receiver of its property, and corporation remains subject to actions at law to the same extent as if no receiver had been appointed, except as such actions may be restrained or enjoined, in receivership proceedings, and no action can be maintained in any way affecting or embarrassing receiver in possession of the property of the corporation to which his receivership entitles him. (Ib.) EXCHANGE p Cross references: age Foreign branches 157 An obligation in terms of currency of a country takes the risk of currency fluctuations. (IT. S. Sup. 1926.) An obligation in terms of the currency of a country takes the risk of currency fluctuations and whether creditor or debtor profits by the change the law takes no account of it. In an action brought here on a debt arising from a deposit made in Germany and payable there on demand, in marks, it is erroneous to translate the amount due into dollars at the rate of exchange existing when demand was made, the mark having depreciated thereafter. (7 Fed. Rep., 2d series, 330, reversed.) (Deutsche Bank Filiale Nurnberg v. Humphrey, 272 U. S. R. 517.) Because of absence of privity, buyer from one who had had letter of credit issued for payment of same article could not maintain action for money received against the bank, paymg contrary to instructions. (IT. S. C. C. A. 1927.) Plaintiff, buyer of coal from B, who had contract for purchase thereof and through a Swedish bank had had letter of credit issued by defendant bank on account of B for payment thereof, could not maintain action for money had and received, though, unknown ' to defendant, plaintiff advanced the money to the Swedish bank for payment on B's purchase of the coal, even if payment by defendant to the one from whom B bought, and to whom the letter of credit was issued, was not in accordance with instructions; the letter of credit being a distinct contract from the underlying contracts of sale, and there being no privity between plaintiff and defendant. (Kunglig Jarnvagsstyrelsen v. National City Bank of New York et al., 20 Fed. Rep., 2d series, 307.) Buyer under c. i. f. contract, having accepted documents furnished by seller, on which he was paid by bank, and given notice of affirmance, can not thereafter claim it did not receive proper documents, and on that theory recover of seller as for money had and received. (IT. S. C. C. A. 1927.) Where buyer under c. i. f. contract accepted unconditionally the documents furnished by seller, on which he was paid by bank, and gave notice of affirmance of the transaction to the bank, buyer can not thereafter claim that it did not receive the proper documents on which seller was to be paid, because among the papers was a brokers' certificate of insurance, instead of an insurance policy, and on that ground recover of the seller as for money had and received. (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 157 Principal and agent. For affirmative of agent's contract, with consequent liabil> ity, it is enough that principal intentionally does acts constituting affirmance. (U. S. C. 0. A. 1927.) Principal, intentionally doing acts which constitute affirmance of agent's contract, assumes liability, even if not intending to do so; actual willingness to assume consequences of the affirmance being unnecessary. (Ib.) Sales. Under contract of sale of coal, seller held entitled to deliver the limited amount per month for the part of si® months after the raising of government embargo remaining after withdrawal of railroad service order against shipment. (U. S. G. 0. A. 1927.) Under contract for sale of 150,000 tons of coal for shipment to foreign country, providing that shipments on this contract are to begin within 30 days after raising of Government embargo, and to be completed within six months thereafter, they to be subject to strikes and government restrictions, and to be approximately 30,000 tons per month; embargo being lifted May 1, but a railroad service order forbidding shipments on account of strike being thereafter issued, and not withdrawn, September 17, seller was entitled thereafter to deliver 30,000 tons in September and that amount in October, but no more then or later. (Ib.) Sales. Contract for sale of coal of specific kind held not changed as to subsequent shipments by shipment, in emergency and on permission, of other hind. (U. S. C. C. A. 1927.) Contract for sale and shipment of coal of a certain specified kind is not changed as to subsequent shipments by a shipment on one occasion, in an emergency and on permission obtained by cable, of a different kind. (Ib.) Letter of credit covering shipment by steamer " sailing during first half of November" held to require that steamer break ground during that period. (U. S. O. O. A. 1927.) Letter of credit, covering sugar to be shipped "by steamer * * * sailing during the first half of November," held to require the ship to actually break ground during that period, as against claim that it was sufficient if it was expected or scheduled to leave within such time. (Commercial Union of America (Inc.) v. Anglo-South American Bank (Ltd.), 16 Fed. Rep., 2d series, 979.) Letter of credit, construed as requiring shipment on steamer scheduled to sail before certain time, held not complied with. (U. S. C. C. A. 1927.) Letter of credit, covering sugar to be shipped "by steamer * * * sailing during the first half of November," if construed only to require that steamer be expected or scheduled to sail within such period, held not complied with by letter showing only that on November 4th the steamer was expected to sail on the 13th. (Ib.) Cross references: Exchange FOREIGN BRANCHES Page 156 Plaintiff, depositing money with national bank to open account m Russian branch, contracted only with national bank, to be carried out in part by agency of branch. (N. Y. Sup. 1927.) Where plaintiff deposited with New York national bank money for purpose of opening an account in Russian branch, and received therefor receipt that money paid represented cost of certain number of rubles to be transferred to Russian branch to open plaintiff's account, there was only one contract made with bank in New York, to be carried out in part by agency of Russian branch, and not separate contract with Russian branch. (Sokoloff v. National City Bank of New York, 224 N. Y. Supp. 102.) 158 REPORT OF THE COMPTROLLER OF THE CURRENCY Deposit of dollars with defendant hank to open account in Russian branch created debtor-creditor relationship, with Russian legal currency payable on demand at branch. (N. Y. Sup. 1927.) Where plaintiff deposited American dollars with defendant bank, for purpose of opening an account in Russian branch for equivalent amount in Russian rubles, usual relation of debtor and creditor arose, with exception that money was payable in legal currency of Russia at branch. (Ib.) Plaintiff, depositing money in defendant bank to open account in Russian branch, could only demand payment in Russia where\ bank was impliedly obligated to maintain branch. (N. Y. Sup. 1927.) Where plaintiff deposited money with defendant bank to open account in Russian branch, where money was to be paid on demand in Russian legal currency, plaintiff could not demand payment elsewhere, and obligation on bank to maintain branch in Russia was necessarily implied. (Ib.) Branches of parent bank, though separate entities, are subject to supervision of parent bank which owns their property, and is liable 1for their debts. {Federal reserve act, sec. 25 (12 U. 8. C. A. sees. 601-605).) (N. Y. Sup. 1927.) Where bank maintain branches, each branch becomes separate business entity, with separate books of account, and depositor in one branch can not issue checks or drafts on other branch, or demand payment from such other branch, in view of Federal reserve act, section 25*(act Dec. 23, 1913, c. 6, 38 Stat. 273 (12 U. S. C. A. sees. 601-605)), but, when considered with relation to parent bank, branches are not independent agencies, but subject to supervision of parent bank which owns their property and assets, and is ultimately liable for debts of branch. (Ib.) Relations between parent and branch bank was not altered by regulations in Russia for privilege of conducting Russian branch. (N. Y. Sup. 1927.) Relation of parent bank in New York to branch bank in Russia is not altered by fact that, for privilege of doing business in Russia, parent bank was required to take out charter for Russian branch and submit to certain regulations in Russia as to method of conducting business. (Ib.) New York bank, opening account in Russian branch for depositor, became liable to depositor under New York contract on closing Russian branch. (N. Y. Sup. 1927.) Where New York national bank contracted with depositor to open account in branch bank in Russia for amount paid in New York, New York bank was subject to Russian regulations so long as it conducted its business in Russia, but became liable to depositor under contract made in New York when it closed its Russian branch. (Ib.) Transfer of depositor's account by defendant bank's Russian branch, remained executory until money was available at place where transferred, and could be revoked prior thereto. (N. Y. Sup. 1927.) Where depositor, having an account in Russian branch of New York national bank, directed branch bank to transfer balance to credit of himself and credit society, credit on books of branch bank to account of its agent for purpose of effecting transfer was not a transfer of money to agent which could be applied to account of defendant, but transaction remained merely executory until money actually became available to depositor in credit society, and depositor could revoke order for transfer prior to actual transfer of money. (Ib.) Depositor, telegraphing bank to hold funds immediately on discovering transfer had not been made, held to have promptly rescinded order for transfer. (N. Y. Sup. 1927.) Where depositor directed bank to transfer account, and transfer was to have been made by telegraph, depositor, on learning that transfer had not been made, promptly rescinded order by telegraphing bank to hold funds at disposal of another. (Ib.) 1 U. S. C. A. United States Code annotated. REPORT OF THE COMPTROLLER OF THE CURRENCY 159 Depositor directing general depository to transfer credit through another bank, sustained relation of principal and agent to depository. (N. Y. Sup. 1927.) Where depositor directed his general depository to transfer credit through another bank to credit society, general depository was agent of depositor to effect transfer, and relation between depositor and depository was that of principal and agent, and not debtor and creditor. (Ib.) Bank through whom depositor instructed depository to transfer credit held agent of depositor's bank for transmission of credit. (N. Y. Sup. 1927.) Where depositor directed bank holding his account to transfer account through another bank, such other bank was merely an agent of depositor's bank for transmission of credit, and had no right to appropriate credit to anything but specific purpose intended. (Ib.) Evidence did not shoiv that bank designated by depositor through which credit should be transferred was depositor's agent. (N. Y. Sup. 1927.) In action by depositor against bank on contract to purchase Russian rubles, proof that depositor directed branch bank in Russia to transfer account to another through a certain bank, and that defendant had balance in another bank through which it could have transferred credit, did not prove that but for depositor's instruction branch bank would have transmitted credit through another bank, so as to make bank specified by depositor his agent. (Ib.) Direction by branch bank to another bank to transfer account, never executed and canceled prior to actual transfer of credit, held not payment of debt to depositor. (N. Y. Sup. 1927.) Where depositor established account in defendant's branch bank in Russia, and instructed branch bank to transfer account through another bank to credit society, direction by branch bank to agent bank to transfer credit, which was never executed, and which depositor canceled prior to time when depositor was actually given credit in society, did not constitute payment of debt by branch bank. (Ib.) "Payment" of debt payable in money requires delivery by debtor to creditor of money or other valuable thing to extinguish debt. (N. Y. Sup. 1927.) To constitute " payment " of debt payable in money, there must be delivery by debtor, or representative to creditor or his representative of money or other valuable thing for purpose of extinguishing debt, which is received by creditor for same purpose. (Ib.) Agent bank, appointed by Russian branch of defendant bank for transmission of credit, was not entitled to credit on books of transmitting bank until credit was actually established. (N. Y. Sup. 1927.) Where Russian branch of defendant bank directed another bank as agent to transmit credit for one of its depositors, agent bank was not entitled to credit on books of transmitting bank until it had established credit to depositor's account, and, when depositor revoked order for transfer, agent bank was entitled to cancel credit established on books of transmitting bank. (Ib.) Purchase from bank of check or draft on another bank is executed transaction. (N. Y. Sup. 1927.) Purchase from bank of check or draft on another bank is a completed transaction. (Ib.) Order for transfer of credit under Giro system in Russia is executory until credit is actually established. (N. Y. Sup. 1927.) Order for transfer of credit under Giro system prevailing in Russia is executory, and not executed, and transfers nothing to person seeking transfer of credit until credit is actually established. (Ib.) Defendant bank's Russian branch, on being informed that transfer of depositor's account had not been consummated, should have recredited depositor's account. (N. Y. Sup. 1927.) Where Russian branch of defendant bank was. instructed by depositor having account in branch bank to transfer account to another, branch bank, on being informed that transaction had not been consummated, should have recredited depositor's account. (Ib.) 160 REPORT OF THE COMPTROLLER OF THE CURRENCY Chech or draft credited to depositor's account, not in fact paid, can he charged "bach to depositor's account. (N. Y. Sup. 1927.) Where check has been credited to depositor's account sp that he could draw against it, or where draft is forwarded for collection and credited as paid, bank may charge check or draft back to depositor's account if check or draft is not in fact paid. (Ib.) Until order for transfer of credit is finally consummated, entry prior to execwtion of transaction which fails should be corrected. (N. Y. Sup. 1927.) Where depositor orders transfer of credit from one bank to another, until transaction is finally consummated and cash or equivalent made available, any entry in advance, made on supposition that transaction will be fully executed, is erroneous, and should be corrected, if it later transpires that thing on expectation of which entry was based had not happened. (Ib.) Defendant bank's Russian branch directing another bank to transfer credlit of depositor held not prejudiced, where transaction remained unexecuted. (N. Y. Sup. 1927.) Where defendant's branch bank in Russia was instructed by depositor to transfer his account through another bank, and directed other bank to make transfer, branch bank was not deprived of anything of value by reason of transaction, where transfer was never consummated, and no settlement was made between branch bank and bank appointed as agent for transmission. (Ib.) Bank's relation to depositor is that of debtor and) creditor, (N. Y. Sup. 1927.) Relation between bank and depositor is that of debtor and creditor. (Ib.) Demand by depositor for payment need not be made where bank disclaims liability or demand would be futile. (N. Y. Sup. 1927.) Rule that no cause of action could accrue by depositor against bank without previous demand made at banking office and during banking hours does not extend to cases where bank has disclaimed liability, or where for any other reason demand would manifestly be futile. (Ib.) Presentation of check to bank for payment was not condition for depositor's action against bank, refusing payment to depositor's sister as directed. (N. Y. Sup. 1927.) Where depositor, immediately on discovering that transfer of credit had not been made by bank as directed, wrote and telegraphed bank that transfer had not been made, requesting bank to hold funds at disposal of his sister, and bank wrote plaintiff that it had acted on first instruction, and could not hold funds as directed, and further refused payment to depositor's sister on her demand for funds, it was not necessary for the depositor's sister to draw check signed by depositor and present it for payment in order for depositor to recover against bank. (Ib.) Demand by depositor during time when Russian branch of defendant bank was taken by soviet authorities was not necessary as condition for action to recover deposit, since futile. (N. Y. Sup. 1927.) Where depositor, immediately on discovering that transfer of credit had not been made by Russian branch of defendant bank as directed, wrote and telegraphed bank that transfer had not been made, requesting bank to hold funds at disposal of his sister, and bank was thereafter taken over by soviet authorities, demand for payment during such time would have been futile, and demand in addition to letter presented to bank requesting payment of deposit to depositor's sister was unnecessary as condition of depositor's action to recover money deposited. (Ib.) Action to recover deposit did not require further demand than letter requesting bank to pay depositor's sister, though bank wrote depositors to withdraw deposits. (N. Y. Sup. 1927.) Where bank refused to pay deposit to depositor's sister as directed by depositor after his revocation of order to transfer credit, letters written by bank to depositors, urging them to withdraw deposits, did not affect depositor's claim, and demand for payment in addition to letter presented by bank requesting deposit to be paid to depositor's sister was unnecessary for action to recover deposit. (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 161 Recovery of deposit in Russian branch of defendant bank, confiscated by Russian authorities, could not be defeated under Russian law, where damages were not claimed. (N. Y. Sup. 1927.) In action to recover deposit in Russian branch of defendant bank, law of Russia that recovery can not be had for breach of contract where performance is prevented by superior force was not defense to action where no damages were claimed and interest was waived. (Ib.) Inability of depositor in Russian branch of defendant bank to recover debt m Russia is not defense but element of Supreme Court's jurisdiction. (N, Y. Sup. 1927.) In action to recover deposit in Russian branch of defendant bank, fact that depositor can not recover his debt in Russi.i U not defense to action, but rather an element of jurisdiction of Supreme Court. (Ib.) Depositor's statement electing to recover rubles transferred to Russian branch of national bank was election to sue on breach of contract raiher than rescission. (N. Y. Sup. 1927.) Where complaint by depositor against national bank was equivocal, in that it could not be ascertained whether depositor was proceeding on theory of rescission of contract, whereby deposit was transferred to Russian branch, or on theory of breach of contract, statement by plaintiff that he elects to rest upon claim to recover amount of Russian rubles sued for at valuation of rate of exchange prevailing on day of breach of contract was in effect an election to recover on theory of breach of contract. (Ib.) Whether depositor in Russian branch of defendant bank, was entitled to recover proportionate part of dollars, or value of rubles on deposit, held question of law for referee. (N. Y. Sup. 1927.) In action by depositor to recover deposit transferred to Russian branch of defendant bank, question whether depositor is entitled to recover proportionate part of dollars for which lie has not been repaid in rubles, or whether he is entitled to recover only value of rubles in his deposit, is one of law for referee. (Ib.) Bank sued to recover deposit could require depositor to elect between inconsistent remedies of recovery, based on rescission of contract or damages for breach. (N. Y. Sup. 1927.) In action by depositor against national bank to recover deposit transferred to Russian branch, bank had right to demand that depositor elect between inconsistent rights of action for recovery based on rescission of contract for failure of consideration, or for damages for breach of contract. (Ib.) Creditor on foreign cause of action is entitled to relief obtainable in foreign courts, but may obtain relief under local laws where rights arose under such laws. (N. Y. Sup. 1927.) Where cause of action arises exclusively in foreign country, and jurisdiction of local courts is secured merely because debtor has been served, or his property attached in state of forum, local courts will only grant that relief that creditor could have secured in courts of foreign country, but, where jurisdiction of local courts is sought to enforce rights arising under local laws, relief will be granted as of time when liability accrues under local laws. (Ib.) National bank held liable for value in dollars of rules on deposit in Russian branch at date of removing branch after refusing payment. (N. Y. Sup. 1927.) In action by depositor against national bank to recover deposit transferred to Russian branch, depositor held entitled to recover equivalent of value of rubles in dollars at time they should have been paid, when national bank removed branch from Russia after refusing to pay depositor amount of rubles on deposit after demand. (Ib.) 162 REPORT OF THE COMPTROLLER OF THE CURRENCY GUARANTY Cross references: State guaranty laws 155 Evidence—Evidence of agreement for application of proceeds on guaranteed account held not to vary guaranty, (U. S. G. C. A. 1927.) Evidence that, at time of execution of written guaranty of liabilities of logging company, guarantor was given bill of sale of certain property belonging to company, with understanding that, on sale thereof, proceeds would be applied to reduce guaranty, held not parol testimony altering terms of written contract of guaranty, since only effect of parol evidence was to show that, before executing guaranty, guarantor had received security to protect himself against loss. (Canadian Bank of Commerce v. Berg, 17 Fed. Rep., 2d series, 867.) Bank held liable to guarantor for misapplication by officer interested in logging company of proceeds of company property sold under directions of guarantor holding property as security. (U. S. C. C. A. 1927.) Where bank officer, who was also interested in logging company, sold certain trucks of logging company under instructions of person holding bill of sale as security for guaranteeing company's liabilities, lower court's holding that bank officer, in selling trucks under directions that proceeds were to be applied on the guaranty, was acting in behalf of bank, and not for logging company, as bearing on bank's liability to guarantor for misapplication of proceeds to general indebtedness of company, held not erroneous. (Ib.) Evidence held to show that national bank guaranteed payment of paper of customer of which its vice president was official. (Sup. Col. 1927.) Evidence held to show that plaintiff national bank guaranteed payment of customer's notes, on which defendant bank loaned money at plaintiff's request, notwithstanding vice president of plaintiff bank was also official of borrower. (Stockyards Nat. Bank of Denver v. Brown, 255 Pac. Rep. 624.) National bank's guaranty of payment of certain paper, though ultra vires, rendered it liable to extent of benefit derived from loans. (National banking act (U. 8. Gomp St. sec. 9657 et seq.).) (Sup. Col. 1927.) National bank's guaranty of payment to another bank of money loaned by latter on paper coming through former, though ultra vires under national banking act (U. S. Comp. St. 9657 et seq.), rendered such bank liable to extent of benefit derived, where overdraft was wiped out by loan. (Ib.) INSOLVENCY AND RECEIVERS Page COMPTROLLER HAS EXCLUSIVE JURISDICTION OVER RECEIVERS ACTIONS BY RECEIVERS : RECEIVERS' SUITS TO RECOVER ASSETS SUIT BY CREDITOR OF NATIONAL BANK AFTER INSOLVENCY AND BEFORE APPOINTMENT OF RECEIVERS PROOF AND PAYMENT OF CLAIMS : CREDITOR OF INSOLVENT BANK HOLDING COLLATERAL SECURITY IS E N TITLED TO PROVE CLAIM FOR TOTAL DEBT AGAINST INSOLVENT DEBTOR AND TO DIVIDENDS THEREON UNTIL DEBT IS PAID PREFERENCES IN INSOLVENCY RIGHTS OF PERSONS MAKING DEPOSIT AFTER INSOLVENCY DEPOSITOR, WHO CHECKED OUT PROCEEDS OF NOTES DISCOUNTED AT BANK BEFORE IT FAILED, HELD NOT ENTITLED TO POSSESSION OF DISHONORED NOTES, BECAUSE OF BANK'S INSOLVENCY WHEN NOTES WERE DISCOUNTED.. DEPOSIT OF SCHOOL FUNDS INSOLVENT STATE BANKS : ALABAMA IDAHO NEW HAMPSHIRE SOUTH DAKOTA 163 164 164 165 166 167 168 168 169 169 170 171 REPORT OF THE COMPTROLLER OF THE CURRENCY 163 COMPTROLLER HAS EXCLUSIVE JURISDICTION OVER RECEIVERS United States—United States officials, in administering duties, are accountable to court only for fraud or errors of law in executing official acts. (U. S. D. C. 1927.) Officials of the United States, when engaged in administering the duties of the office to which they are assigned, are accountable to court only in event of fraud or errors of law in matter of execution of their official acts, and otherwise will not be disturbed by the courts. (Altman v. McClintock et al., 20 Fed. Rep., 2d series, 226.) Receiver of national hank is not amenable to accounting, unless exceptional situation justifies such relief. (12 U. 8. C. A. sec. 198.) 1 (U. S. D. C. 1927.) Receiver of national bank held an officer of the United States, acting under express direction of the Comptroller of Currency, pursuant to 12 U. S. C. A., section 198, and, although he may be in a sense a trustee for creditors of defunct bank, he is not amenable to accounting to his cestui que trust, except if situation should arise wherein court would feel justified in granting such relief. (Ib.) Comptroller of Currency has exclusive authority in matter of necessary expense in administration of receivership for national hank. {National hanking act (12 U. 8. 0. A.).) 1 (U. S. D. C. 1927.) Administration of receivership of a national bank is committed to the Comptroller of Currency by the national banking act (12 U. S. C. A.), and he has as much authority in the matter of incurring and authorizing necessary expense as would account in administering a receivership before it. (Ib.) Depositors held not entitled to discovery to determine right of action against officers under petition for accounting as to expenses of receiver of national hank, (U. S. D. C. 1927.) Where depositors sued to secure accounting from receiver of national bank, and discovery sought, in nature of examination of books, was for purpose of determining right of action against officers and directors of bank, while accounting sought related to matter of expenses of receivership, a situation is not presented entitling plaintiff to accounting prayed for, since discovery would have little to do with accounting of receiver of own official acts, and in order to warrant relief discovery must be in aid of general relief sought. (Ib.) Discovery must he in aid of general relief. (U. S. D. C. 1927.) A discovery must be in aid of general relief sought. (Ib.) Receiver of national hank is officer under comptroller, and assets are not in custodia legis (Comp. St. § 9821). (U. S. C. C. A. 1927.) Receiver of a national bank, appointed by the comptroller under Revised Statutes, section 5234 (Comp. St. § 9821), is his officer, and not an officer of the court, nor are its assets, while in his hands, in custodia legis. (Hulse v. Argetsinger et al., 18 Fed. Rep., 2d series, 944.) No appeal lies in proceeding by receiver of national hank to compound liability of directors (Comp. St. § 9821). (U. S. C. C. A. 1927.) Since proceeding under Revised Statutes, section 5234 (Comp. St. § 9821), by receiver of national bank, to compound liability of directors, is not judicial but administrative in character, no appeal lies therefrom. (Ib.) Receiver of national banlc, in proceeding to compound liability of directors, is not subject to court's supervision (Comp. St. § 9821). (U. S. C. C. A. 1927.) Receiver of national bank, in proceeding under Revised Statutes, section 5234 (Comp. St. § 9821), for compounding liability of directors, is not subject to court's supervision, except as prescribed by statute, and although he must have court's consent to compound debts or to sell assets, that is merely condition on powers which are otherwise like those of the bank itself, and, after getting leave to compound, he may do as he wills. (Ib.) 1 U. S. C. A. United States Code annotated. 164 REPORT OF THE COMPTROLLER OF THE CURRENCY ACTIONS BY RECEIVERS RECEIVERS SUIT TO RECOVER ASSETS Trusts—Action may be brought in equity in behalf of insolvent bank to impress funds withdrawn by depositor with trust. (U. S. D. 0. Iowa.) Action in behalf of insolvent bank to impress a trust on certain funds withdrawn by depositor may be brought in equity, with authority in court, in case proof showed money should be impressed with such trust, to make order requiring it to be turned over in same manner as if other specific assets of bank were involved. (Sioux Falls Trust & Savings Bank et al. v. Homer W. Johnson Co. et al., 20 Fed. Rep., 2d series, 693.) Trusts—Sum withdrawn by depositor shortly before bank closed as legitimate banking transaction can not be imposed with trust in favor of bank. (U. S. D. C. Iowa.) Where depositor, during time immediately preceding bank's liquidation, continued regular business therewith and made deposits of approximately $13,000 while bank was open and presumably doing a legitimate business, with no knowledge that bank was not entirely solvent, $7,000 withdrawn by depositor shortly before bank closed as a legitimate banking transaction in an ordinary way can not be impressed with a trust in action in behalf of such insolvent bank. (Ib.) Trust s^-Procee ding to impress trust on funds withdrawn by depositor before bank's insolvency must fail when funds were used in improvement of prop* erty subsequently transferred to bank. (U. S. D. C. Iowa.) Where money withdrawn by depositor shortly before closing of insolvent bank was used in payment of improvement of property subsequently transferred to bank during liquidation, proceeding in equity to impress a trust on such fund must fail, in that it would be necessary to follow such funds, which at time of action constituted property already in bank's possession. (Ib.) SUIT BY CREDITOR OF NATIONAL BANK, AFTER INSOLVENCY AND BEFORE APPOINTMENT OF RECEIVER Creditor of national bank, suing after insolvency and before appointment of receiver, held not entitled to lien under State law creating lien on lands of judgment debtor. (TJ. S. C. C. A. 1927.) Under Revised Statutes, United States, sections 5236, 5242 (U. S. Comp. St. sees. 9823, 9834), forbidding establishment of lien against a national bank, creditor bringing suit after bank went into control of examiner, but before appointment of receiver, held not entitled to lien, under Compiled Statutes, Nebraska, 1922, section 8986, creating a lien on lands of judgment debtor from date of judgment, since it is not the appointment of a receiver which fixes right of creditors, but the date of insolvency. (Steele, County Treasurer, v. Randall et al., 19 Fed. Rep., 2d series, 40.) Insolvency is unaffected by intention of hopes of persons affected. (U. S. C. C. A. 1927.) Insolvency is a condition unaffected by intentions of hopes of persons affected. (Ib.) National banks are "Federal instrumentalities." (U. S. C. C. A. 1927.) National banks are "Federal instrumentalities," and controlled by Federal statutes relating thereto. (Ib.) Receiver of national bank is an " agent and officer of United States." (U. S. C. C. A. 1927.) Receiver, appointed for national bank under Revised Statutes, sections 5234-5236 (Comp. St. sees. 9821-9823), is not in any sense such an official as receiver appointed by court of equity, but is an administrative officer selected by comptroller, and is an " agent or officer of the United States/' (Ib.) KEPORT OF THE COMPTROLLER OF THE CURRENCY 165 PROOF AND PAYMENT OF CLAIMS CREDITOR OF INSOLVENT BANK HOLDING COLLATERAL SECURITY IS ENTITLED TO PROVE CLAIM FOR TOTAL DEBT AGAINST INSOLVENT DEBTOR AND TO DIVIDENDS THEREON UNTIL DEBT IS PAID Creditor of insolvent bank, holding collateral security, is entitled to claim for total debt against insolvent debtor and to dividends thereon until debt is paid, (U. S. C. C. A. 1927.) Where creditor of insolvent bank holds collateral security for payment of its debt, it is entitled to allowance of claim for full amount of debt and to payment of dividends on entire debt, pro rata with general creditors, until dividends, together with amount realized from security, equal full amount of debt. (United States Fidelity & Guaranty Co. v. Centropolis Bank of Kansas City, Mo., et al., 17 Fed. Rep., 2d series, 913.) County held entitled to total claim against insolvent depository, and to dividends thereon until such dividends, with a/mount paid by surety, equaled deposit. (U. S. C. C. A. 1$27.) Where county had deposit in insolvent bank partially secured by sureties, it is entitled to allowance of claim for full amount of deposit, and to receive dividends thereon until dividends, together with amount paid by sureties, equal full amount of deposit. (Ib.) Principal and surety—BanWs contract to indemnify surety guaranteeing county deposits held legal and enforceable contract. (U. S. C. C. A. 1927.) Contract of indemnity, entered into by bank with surety company executing suret3^ bond guaranteeing county deposits, not being in contravention of any provision of law or public policy of State, held a legal and enforceable contract. (Ib.) Principal and surety—Implied contract that principal wilt indemnify surety for payment made to creditor arises when suretyship is made. (U. S. C. C. A. 1927.) When a contract of suretyship is made, there arises, in absence of express agreement, an implied contract that principal will indemnify surety for any payment latter may make to creditor in compliance with contract of suretyship, and such implied contract, arises when suretyship is made, and not when payment is made by surety thereunder. (Ib.) Surety guarantying county deposits in insolvent bank held to have u claim" for payment thereunder by virtue of contract of indemnity. (Rev. St. Mo. 1919, §§ 11700, 11702, 11713, 11715-11724, Laws, Mo. 1921, p. 394.) (U. S. C. C. A. 1927.) Surety guarantying county deposits in insolvent bank, after paying its obligation under bond, held to have a " claim " against bank, within meaning of Revised Statutes, Missouri, 1919, sections 11702, 11713, 11715-11722, by virtue of its contract of indemnity, and mere fact that claim accrued under bond after bank was closed and placed in process of liquidation, pursuant to Laws, Missouri, 1921, page 394, and Revised Statutes, 1919, sections 11700-11724, did not prevent allowance of claim. (Ib.) Subrogation—Surety liable for portion of debt held not entitled to subrogation, unless he pays whole debt, or it is otherwise satisfied. (U. S. C. C. A. 1927.) Surety, who is liable only for part of debt, does not become subrogated to collateral, or to remedies available to creditor, unless he pays whole debt, or it is otherwise satisfied. (Ib.) Principal and surety—Suretyship contracts should be interpreted according to terms, given effect in their plain, ordinary, and popular sense. (U. S. C. C. A. 1927.) Contracts of suretyship should be interpreted like other classes of contracts, according to sense and meaning of terms which parties have used, and those terms should be taken, understood, and given effect in their plain, ordinary, and popular sense. (Ib,) 166 HEPORT OF THE COMPTROLLER OF THE CURRENCY County's claim against insolvent bank for deposits held not entitled to priority over claim of surety under indemnity contract. (U. S. O. C. A. 1927.) Where surety has discharged its liability under bond partially guarantying county deposits in insolvent bank, claim of county against bank on its contract of deposit is not entitled to priority over claim of surety by virtue of contract of indemnity. (Ib.) Depositor of bonds converted and pledged by bank held entitled to recover of receiver on trust fund theory only balance of proceeds above pledgee's claim. (U. S. C. C. A. 1927.) Plaintiff, who left bonds at a national bank for safe-keeping, can not recover the value thereof of its receiver on the theory of a trust fund, because the bank delivered them with others to the State treasurer, to secure deposits made by him, and he, on receiver being appointed, sold all the bonds and from the proceeds satisfied his claim, there being no augmentation thereby of the funds of the bank: but plaintiff can, on the trust fund theory, recover at most only the balance of the proceeds of the pledged bonds in excess of the treasurer's claim, which was by him paid and delivered to the receiver, and if some of the other pledged bonds belonged to other individuals, and were also converted by the bank, then plaintiff can recover only her pro rata of the balance. (Dudley et al. v. Richards, 18 Fed; Rep. 2d series, 876.) Bank, converting and pledging bonds of depositor, can not be assumed to have owned all others pledged. (U. S. C. 0. A. 1927.) National bank having converted bonds deposited with it for safe-keeping and pledged them with others, it can not be assumed that all the other bonds belonged to the bank, relative to the right of the special depositor to recover of the bank's receiver, as a trust fund, all the balance of the proceeds of the pledged bonds over and above the pledgee's claim. (Ib.) PREFERENCES IN INSOLVENCY Trusts—To maintain claim for preferential payment over general creditors of insolvent, cestui que trust must clearly prove that his property or its proceeds went into specific fund or property m hands of receiver. (U. S. C .C. A. 1926.) It is indispensable to the maintenance by a cestui que trust of a claim for preferential payment over general creditors out of the proceeds of the estate of an insolvent that clear proof be made that the cestui que trust's property, or its proceeds, went into a specific fund, or into a specific identified piece of property, which came to the hands of the receiver or holder of the insolvent's property. (Farmers National Bank of Burlington, Kans., et al. v. Pribble, 15 Fed. Rep., 2d series, 175.) Proof that property of cestui que trust or its proceeds was used by insolvent bank or its receiver to pay indebtedness of insolvent does not warrant preferential payment to cestui over general creditors. (U. S. C. C. A. 1926.) Proof that such property or its proceeds was used by the insolvent or its receiver or holder to pay the indebtedness of the insolvent,, or to diminish its liabilities warrants no such preferential payment. (Ib.) Where check given to pay draft left with bank for collection was used with other checks and cash to clear with other bank, owner of draft was not entitled to preference agamst bank's receiver. (U. S. D. C. 1926.) Where draft left by plaintiff with bank for collection was paid by check on another bank, which check, with others and cash, was used in clearing with other bank, held that, since check did not bring cash into bank, plaintiff was not entitled to have trust declared against bank's receiver therefor, but was entitled to rights of general creditor only. (Smith Reduction Co, v, Williams, 15 Fed. Rep., 2d series, 874.) KEPOKT OF THE COMPTROLLER OF THE CURRENCY 167 Owner of draft left for collection held entitled to recover proceeds, without interest, icithoiit 'waiting settlement of estate, where bank's receiver admitted that proceeds as trust funds came into his possession. (U. S. D. C. 1926.) Where bank's receiver admitted that proceeds of collection of draft were in bank's vaults as trust funds when it failed, and were part of assets in his hands, owner of draft was entitled to recover proceeds, without interest, and without being required to wait until estate was settled. (Ib.) When payments iciXl be presumed not to be from trust fund. (U. S. D. C. 1926.) As respects priority, where bank holds funds in vaults under express trust, payments by it will be presumed to have been from other funds. (Marshburn v. Williams, 15 Fed. Rep., 2d series, 589.) Proceeds of bonds converted by bank, by placing them to its credit in another bank mingling them with other deposits therein, held inextricably intermingled with other assets of converting bank, so that status of oivner of bonds was that of general creditor. (U. S. D. C. 1926.) Proceeds of bonds converted by bank, by placing them to its credit in another bank, mingling them with other deposits therein, and checking against them in favor of other banks, held inextricably intermingled with other assets of converting bank, so that status of owner of bonds was that of general creditor; there being no presumption that check to another bank embraced part of fund, merely because drawing bank, at time of failure, had balance in such other bank. (Ib.) EIGHTS OF PERSONS MAKING DEPOSITS AFTER INSOLVENCY Transaction held not to make bank trustee of fund arising from sale of bonds of depositor, and by her direction credited to account of correspondent bank. (U. S. C. C. A. 1927.) Defendant owned Government bonds, which were about to mature, and were on special deposit with a Cincinnati bank. She arranged with a local bank in which she was depositor, for reinvestment, and sent an order to the Cincinnati bank to sell the bonds and put the amount to the credit of the local bank, of which it was correspondent. It did so, notifying defendant and the local bank of the amount credited to its account " for use of " defendant. Held, that the qualifying words meant no more than that the amount was for credit by the local bank to defendant, and did not make the Cincinnati bank trustee of the fund, and required to hold it for defendant on failure of the local bank. (Marvin, Banking Commissioner of Kentucky, v. Martin, 20 Fed. Rep., 2d series, 746.) Amount remaining to credit of insolvent bank with its correspondent bank held trust fund for depositor, whose deposit was received after insolvency. (U. S. C. C. A. 1927.) The local bank being insolvent and knowing the fact, when the money was deposited in its account, its receipt was fraudulent, and the bank held the deposit as trustee for defendant, and as between them the amount which had remained continuously to its credit with the Cincinnati bank, until it failed, not exceeding such deposit, belonged to defendant. (Ib.) Damages—Banking1 commissioner held Uable for interest mi trust fund withheld from< owner by litigation. (U. S. C. 0. A. 1927.) Banking commissioner, as administrator of insolvent bank, held liable for interest, as damages, on trust fund withheld from owner by litigation. (Ib.) 71284°—28 12 168 BEPORT OF THE COMPTROLLER OF THE CURRENCY DEPOSITOK, W H O CHECKED OUT PROCEEDS OF NOTES DISCOUNTED AT BANK BEFORE IT FAILED, HELD NOT ENTITLED TO POSSESSION OF DISHONORED NOTES, BECAUSE OF BANK'S INSOLVENCY W H E N NOTES WERE DISCOUNTED Depositor, who checked out proceeds of notes discounted at bank before itfailed, held not entitled to possession of dishonored notes, because of bank's insolvency when notes were discounted. (U. S. D. C. 1926.) Where depositor indorsed and discounted notes to bank, and his account was credited with proceeds, which he checked out before bank failed, held, he was not entitled to recover possession of notes, which were not paid at maturity because they were obtained when bank was insolvent, to knowledge of its officers. (Bryant v. Williams, 16 Fed. Rep. 2d series, 159.) Notes indorsed to bank without qualification, pn*oceeds being checked out by depositor before bank failed, held property of bank, notwithstanding right to charge back. (U. S. D. C. 1926.) Where depositor indorsed notes; without qualification, and discounted them at bank, and checked out proceeds credited to his account, bank became owner of notes, and not mere agent for collection, notwithstanding it reserved right to charge back notes to depositor's account, if not paid at maturity. (Ib.) Rules of Federal and not of State courts apply. (U. S. D. C. 1926.) In determining whether paper discounted at national bank becomes property of bank, Federal courts apply rules of Federal and not of State courts. (Ib.) Custom of banks to charge back dishonored paper does not entitle depositor, who receives full value, to demand surrender by bank of dishonored paper. (U. S. D. C. 1926.) Custom of banks to charge back to depositor's account dishonored paper, or implied agreement arising therefrom that it may be so charged back, is merely a summary method of collection, and imposes no duty on bank, nor gives depositor, who indorses it to bank and receives full value, right to demand that bank surrender it, if not paid at maturity. (Ib.) Bank's right to charge dishonored paper to depositor. (U. S. D. C. 1926.) Bank's right to charge back to depositor's account dishonored paper is well settled, in view of custom. (Ib.) When it is bank's duty to charge dishonored paper against depositor's account. (U. S. D. C. 1926.) It is bank's duty to charge back dishonored paper against depositor's account only where depositor is primarily liable, and then only for protection of those secondarily liable. (Ib.) Indorser has no right to set off deposit balance against receiver if principal debtor is solvent. (U. S. D. C. 1926.) Where receiver of insolvent bank seeks to enforce liability of indorser on notes discounted at bank, indorser has no right to set off deposit balance, if principal debtor is solvent. (Ib.) Burden is on depositor to show that he ha$ no recourse against maker. (U. S. D. C. 1926.) Burden is on depositor, suing bank's receiver, to have deposit balance set off against depositor's liability as indorser on notes, to show that he has no recourse against maker. (Ib.) DEPOSIT OF SCHOOL FUNDS Insolvent bank's indebtedness to school district is reduced by surety's payment under Uability bond, and payment by receiver of dividends on full amount held erroneous. (U. S. D. C.) 1 Failure of receiver of insolvent bank to cancel amount of indebtedness to school district to extent that it was reduced by surety company in satisfaction of its liability on indemnity bond, and payment of pro rata dividend on full amount to board of education held erroneous. (American Surety Co. of New York v. National Bank of Barnesville, Ohio, 17 Fed. Rep. 2d series, 942.) x The Federal Reporter does not give the month or year in which the case of The American Surety Co. of New York v. National Bank of Barnesville, Ohio, was decided. The preceding case in the Reporter is given as decided Mar. 4, 1927, and the following case as decided on Dec. 9, 1925. The next case is given as decided Mar. 16, 1927. REPORT OF THE COMPTROLLER OF THE CURRENCY 169 Subrogation—Surety, paying full bond liability in partial extinguishment of debt, held not surrogated to rights of creditor in amount paid. (U. S. D. C.) Surety company, by paying full liability under bond partially extinguishing debt of board of education against depository, held not subrogated to rights of board of education to extent of amount paid against bank, because total debt to board of education was not paid. (Ib.) Subrogation—"Subrogation" is substitution of one person for another with reference to lawful claim or right. (U. S. D. 0.) " Subrogation," in its broadest sense, is substitution of one person in place of another with reference to lawful claim or right, and is frequently referred to as the doctrine of substitution. (Ib.) Principal and surety—Surety has right of action against principal on indemnity contract on paying liability under bond. (U. S. D. C.) Surety, paying liability on bond, has right of action against principal on indemnity contract indemnifying surety against loss in consequence of having executed bond. (Ib.) INSOLVENT STATE BANKS ALABAMA Contract by officer to make good looses from continued operation, if bank were allowed by State superintendent to remain open, held not invalid. (U. S. C. C. A. 1927.) A contract by which an officer and director of a State bank, in consideration of the bank being permitted to continue in business for a stated time, obligated himself to the State superintendent of banks to make good any loss to depositors or creditors by reason of such continuance, which contract, as construed by the parties, did not free the bank from supervision by the banking department, held) not invalid as requiring a suspension by the superintendent of his official duties. (Jackson, Supt. of Banks of Alabama, v. Keyser, In re Wilson, 18 Fed. Rep., 2d series, 252.) Officer of insolvent bank, held liable on contract to make good any loss to dopositors or creditors by^ reason of the bank, being permitted to continue in operation for a stated time. (U. S. O. C. A. 1927.) Where an insolvent bank, about to be closed by the superintendent of banks, was permitted to continue in operation for a time on an agreement by an officer and director to make good any loss to depositors, or creditors by reason of such continuance, at the end of which time it remained insolvent and was taken over for liquidation, and during the period some who were depositors or creditors at its beginning were paid in full, while the indebtedness to others remained the same, the latter clearly suffered loss through the continued operation, for which the surety was liable on his contract. (Ib.) IDAHO Motion to strike answer to suit by United States to recover deposits will be denied when specifically denying that moneys were Government funds. (U. S. D. C. 1927.) Where answer in suit by the United States to recover postal and forestry funds deposited in State bank specifically denied that funds belonged to United States, within meaning of Revised Statutes, section 3466 (Comp. St., sec. 6372). providing for payment of debts in full in case of insolvency, general motions to strike answers will be denied, for the purpose of taking testimony to determine character of such funds. (United States ex rel. Ray, U. S. Atty., v. Porter, Commissioner of Finance of Idaho, 19 Fed, Rep., 2d series, 541.) 170 REPORT OF THE COMPTROLLER OF THE CURRENCY That postal and forestry moneys were deposited im, names of officials would not make mdebtedmess awy less indebtedness to United States. (U. S. D. C. 1927.) Fact that postal and forestry funds were deposited in names of postmasters, or drafts of bank were purchased therewith, and not paid, would not make indebtedness of banks any less an indebtedness to United States, within Revised Statutes, section 3466 (Comp. St., sec. 6372), since postmasters and forestry officials were authorized to receive and deposit any public funds in banks and legal effect was that they were deposited as public moneys. (Ib.) United States in proceeding to recover' public funds' from insolvent State bank need not pursue steps required by State law. (U. S. D. C, 1927.) The United States, in proceeding under Revised Statutes, section 3466 (Comp. St., sec. 6372) to recover public funds in insolvent State bank, is under no obligation to pursue steps provided for in State law, since1 priority given by United States can not be impaired or superseded thereby. (Ib.) United States is entitled to priority after suspension of payment and finding of insolvency of State banks having funds on deposit. (U. S. D. C. 1927.) Where State banks, having on deposit United States funds, suspended payment and were found to be insolvent by State commissioner of finance, United States was then, under Revised Statutes, section 3466 (Comp. St., sec. 6372), entitled to have property dealt with as a trust fund, and its rights or priorities recognized under the statute. (Ib.) NEW HAMPSHIRE Under state statute, assets of savings department of trust company are impressed with trust, and can not be used to satisfy debts of mercantile department. (Pub. Laws N. II. 1926, c. 268, § 29.) (U. S. D. C. 1927.) Under Public Laws New Hampshire, 1926, chapter 268, section 29, relating to the distribution of proceeds of property of an insolvent banking institution, assets of savings department of trust company are impressed with a trust for the benefit of depositors in that department, and can not be used to satisfy debts of the mercantile department. (United States v. Peoples Trust Co. et al., 17 Fed. Rep., 2d series, 437.) United States—Statute declaring preference for claims of United States against insolvent estates should be liberally construed. (Rev. St. § 3466 \Comp. St. § 6372].) (U. S. D. C. 1927.) Revised Statutes, section 3466 (Comp. St. section 6372), declaring a preference in favor of claims of the United States against insolvent estates, being intended to secure adequate public revenue, should be liberally construed. (Ib.) United States—Claimants of exemption from statute preferring claims of United States against insolvent estates have burden of proof. (Rev. St. § 3466 [Comp. St. § 6372].) (U. S. D. C. 1927.) Persons claiming exemption from the operation of Revised Statutes, section 3466 (Comp. St. section 6372), declaring a preference in favor of claims of the United States against insolvent estates, have burden of showing that they are not within its provisions. (Ib.) Claim of United States for postal funds deposited with trust company in course of liquidation held entitled to preference (Rev. St. U. S. .§§ 3466, 3467 [Comp. St. §§ 6372, 6373]; Pub. Laws N. H. 1926, c. 268; Bankruptcy Act, § 3a, subd. 4 [Comp. St. § 9587].) (U. S. D. C. 1927.) Under Revised Statutes United States sections 3466, 3467 (Comp St. sections 6372, 6373), claim of the United States for postal funds deposited in trust company in hands of bank commissioner for liquidation under Public Laws New Hampshire, 1926, chapter 268, was entitled to preference, notwithstanding bank was closed, for express reason that public good required it rather than on ground of insolvency; it being in fact insolvent and assumption of control by commissioner equivalent to placing of receiver or trustee in charge, under bankruptcy act, section 3a, subdivision 4 (Comp. St. section 9587), as it existed prior to amendment of May 27, 1926 (44 Stat. 662). (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 171 SOUTH DAKOTA Contracts—Contract against publw policy of State will not ~be enforced, though valid at place made. (U. S. D. O. 1927.) Contract against settled policy of State will not be enforced, although it may be valid at place where contract was made. (Mechanics & Metals Nat. Bank v. Smith, as State Superintendent of Banks of South Dakota, et al., 21 Fed. Rep., 2d series, 128.) Contracts—Only evidence of State's public policy are its constitution, laws, and judicial decisions. (U. S. D. C. 1927.) Only authentic admissible evidence of public policy of State on any given subject are its constitution, laws, and judicial decisions. (Ib.) South Dakota hanks held without power to put up collateral securing rediscounted notes. {Rev. Code S. Dak. 1919, sec. 898A, as amended by Laws S. Dak. 1919, c. 12k; Laws S. Dak. 1925, c. 92.) (U. S. D. C. 1927.) Under Revised Code South Dakota, 1919, section 8984, as amended by Laws South Dakota, 1919, chapter 124, banks are without power to put up collateral to secure notes rediscounted on theory that such rediscounting was merely a method of borrowing money, particularly in view of Laws South Dakota, 1925, chapter 92, making exception in case of requirement therefor by rules of Federal reserve bank. (Ib.) Giving lien on collateral to cover previous notes rediscounted to lender constituted unlawful " preference,'' and teas void. (U. S. D. C. 1927.) Where, prior to bank's borrowing money and furnishing collateral as security, lender had rediscounted certain notes of borrowing bank, thereby creating relation of debtor and creditor, the subsequent giving of lien on collateral furnished for loan, so as to cover previous rediscount notes, constituted unlawful " preference," and was void. (Ib.) Holder of rediscount notes from insolvent bank has separate and distinct claims on each unpaid rediscount. (U. S. D. C. 1927.) Holder of rediscount notes secured from insolvent bank before its liquidation has as many distinct and separate claims as there are unpaid rediscounts, neither of which were dependent on, connected with, or affected by others, so as to facilitate the payment of dividends thereon. (Ib.) Credit belonging to bank with correspondent bank, from whom it had borrowed money and rediscounted notes, will be applied to primary obligation. (Rev. Code S. Dak. 1919, sec. 757.) (U. S. D. C. 1927.) Where, at time of bank's insolvency, it had credit with correspondent bank, to whom it had rediscounted notes and also borrowed money on collateral security, credit of such insolvent bank will, under Revised Code South Dakota, 1919. section 757, be applied to payment of bank's primary obligation, rather than on contingent liability on rediscount. (Ib.) South Dakota bank can not secure rediscounts to (mother bank, even as part agreement for secured loan from the other bank. (Rev. Code S. Dak. 1919, sec. 898 Jh as amended by Laivs S. Dak. 1919, c. 124.) (U. S. D. C. 1927.) Under Revised Code, South Dakota, 1919, section 8984, as amended by Laws, South Dakota, 1919, chapter 124, prohibiting a bank of that State from giving security, except for money borrowed, security given by it to another bank, to secure both a loan then obtained from the other bank and its obligation on account of notes which it had rediscounted to the other, is an invalid preference as regards the notes, though the loan was made conditional on security being given, not only for it, but for such notes. (Smith, State Superintendent of Banks, v. First Nat. Bank of Sioux City, Iowa, 21 Fed. Rep,, 2d series, 135.) 172 REPORT OF THE COMPTROLLER OF THE CURRENCY Indorsement by defendant bank on notes of insolvent bank of open-account balance held conclusive application, in absence of showing of mistake or lack of authority. (U. S. D. C. 1927.) Where, at the time a bank failed, it had a balance in its open account with defendant bank, to which it was indebted on secured notes and an unsecured claim, and defendant then, as it had a rig,ht to do, indorsed the amount thereof on such notes, such indorsement, in the absence of a showing that it was made without authority, or by mistake or error, was a conclusive application of the balance. (Ib.) NEGOTIABLE PAPER Bills and noties. (U. S. C. A. D. C. 1926.) Note delivered to bank as renewal for residue of former note given for corporate stock in Delaware in violation of law held inforceable in hands of holder in due course. (Theunissen v. Continental Trust Co., 15 Fed, Rep., 2d series, 894.) Corporations. (U. S. C. A. D. C. 1926.) Promissory note given for corporate stock in violation of law is not void as against corporation. (Ib.) OFFICERS REPRESENTATION OF BANK BY OFFICERS Vice president, wrongfully using note of depositor, held to have been acting for the bank and not as agent of depositor, (U. S. C. C. A. 1926.) Defendant, a depositor in a bank of which he was also a director, being about to leave on a journey, signed a blank form of note to the bank and delivered it to the active vice president, with instructions that, if he should overdraw his account while absent, the note should be filled out for such amount as he would direct and the proceeds placed to his account. He did not overdraw his account; but the vice president, without authority, filled out the note and deposited the proceeds in his own account. Held, that the transaction was between defendant and the bank of which the vice president was an executive oflicer, and that direction of a verdict for the bank in an action on the note, on the ground that the vice president was agent for defendant, was error. (Senter v. Bromfield, 16 Fed. Rep,, 2d series, 576.) Representations madd by bank president to proposed surety as to borrower's assets, in connection with proposed loan by bank, held binding on bank. (U. S. C. O. A. 1926.) False representations by the president of a bank, made in connection with a proposed loan by the bank to one solicited to, and who did, indorse the borrower's note, respecting the financial condition of the maker, were within the scope of his authority and binding on the bank. (Young et al. v. Goetting et al., 16 Fed. Rep., 2d series, 248.) That maker promised to pay indorser did not preclude latter from dewymg liability for fraud of payee. (U. S. C. C. A. 1926.) That the maker of a note promised to pay an indorser for his indorsement did not preclude the latter from denying liability on the ground that he was induced to make the indorsement by false representations of the payee. (Ib.) Appeal and error—Exception to charge must call attention to particular part objected to. (U. S. C. C. A. 1926.) Objection to charge, which does not correctly refer to or describe part of charge attacked, is insufficient. (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 173 Notes executed by bank officers to correspondent bank held to constitute *' bank transaction," authorizing correspondent bank to charge account of other bank on maturity. (U. S. D. C. 1927.) Notes executed by bank president, in sole management and control and active charge of its affairs, and by other bank officers to correspondent bank for purpose of securing funds for bank held, in view of custom and reconcilements showing that both parties intended notes for use of bank, to constitute a " bank transaction," and not a personal loan, so that correspondent bank was justified in charging the amount of such notes on maturity to account carried with it by bank for whose use notes were executed. (Keyes v. First Nat. Bank of Aberdeen, S. Dak., 20 Fed. Rep.,-2d series 678.) Reconcilement with co-respondent) bank, signed by officers who were also nominal makers of note included, in such reconcilement, held binding on bank for ivhich money was borrowed on note. (U. S. D. C. 1927.) Reconcilement by cashier and vice president, covering transaction whereby correspondent bank charged notes executed by bank president and vice president, signing reconcilement to bank's account, constituted an act of the bank binding on board of directors, who were in duty bound to examine accounts, since reconcilements were made in ordinary course of business by such vice president, who, although signing notes, was only a nominal maker for use of bank. (Ib.) Bank receiver held estopped to assert claim against correspondent bank charging notes executed for use of bank by its officers to bank's account. (U. S. D. O. 1927.) Where notes executed by bank officers to correspondent bank were treated by all parties thereto as constituting a bank transaction, and not personal obligation of makers, receiver is estopped to assert claim against correspondent bank because of its action in charging such nofes to bank's account, in that receiver stands in no better position than bank, it bringing action itself. (Ib.) Account stated—Cash letters and reconcilement statements covering notes executed by bank officers to correspondent bank and charged to bank's account constituted " account stated." (U. S. D. C. 1927.) Transaction between bank and correspondent bank, consisting of forwarding of cash letters and exchanging reconcilements covering notes executed by bank officers and charged by correspondent bank to bank's account on maturity, held to constitute an " account stated," in that such letters and reconcilement sheets and statements contained all items included within transactions of all character between banks. (Ib.) Receiver can not recover against correspondent bank on notes executed by bank officers and charged to bank on maturity, on theory of conspiracy to conceal liabilities. (U. S. D. C. 1927.) Receiver for closed bank held not entitled to recover on notes executed by bank officers to correspondent bank and charged to bank's account on maturity, on theory of conspiracy between bank and co-respondent to conceal liability of borrowing bank, in that bank while a going concern could not have maintained action therefor, and receiver stands in no better position. (Ib.) Receiver for insolvent bank can not recover against corespondent bank pa/yments on personal loan to president of insolvent bunk after acceptance and reconcilement. (U. S. D. O. 1927.) Where president of bank paid interest on personal loan from correspondent bank by check or draft in certain instance, and in other instances correspondent bank charged account to bank of which borrower was president, and all items were remitted by correspondent bank and accepted and reconciled by proper officer of bank other than president, receiver after bank's insolvency held not entitled to recover such payment against correspondent bank, particularly since payments were charged to account of borrower, and in each case he had credit to cover charge. (Ib.) 174 REPORT OF THECOMPTROLLER OF THE CURRENCY Directors' acquiescence m bank president's use of bank funds in- paying personal obligation conferred authority on him to do so. (U. S. D. O. 1927.) Directors' continued acquiescence in bank president's using bank funds in payment of personal obligation with knowledge which they could and would have had, had they performed their duties, held to have conclusively conferred authority on president to use bank funds.. (Ib.) Knowledge of bank cashier, paid co-conspirator of bankrupt, of financial difficulties and probability that preference would result, held not imputed to bank. (Bankruptcy act, section 60b (Comp. St. section 9644)') (U. S. D. C. 1926.) Where assistant cashier of bank,.for a monetary consideration, conspired to facilitate unlawful operations of bankrupt, and after allowing substantial overdrafts on two dummy accounts of bankrupt, and being threatened with personal liability therefor by officers of bank, obtained cash payment from bankrupt with knowledge of his financial difficulties, and probability that preference would result, held, his knowledge could not be imputed to the bank, so as to charge it with knowledge necessary to make the payment to it an unlawful preference, under bankruptcy act, section 60b (Comp. St. section 9644). (Walser v. International Union Bank; In re Colin, 18 Fed. Rep., 2d series, 957.) OFFICERS, CIVIL LIABILITY OF Courts—Action for damages for violating statute by making false reports as to resources of bank is law action. (National bank act (12 U. 8. C. A. sees. 93\ 161) ; equity rule 26).x (U. S. D, C. 1927.) In action to recover damages1 for violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A. sees. 93, 161), by making false reports relating to resources and liabilities of bank, adequate remedy at law exists, since right to recover is based wholly on statutory liability, and equity rule 26 is inapplicable; case being properly on law side of court. (Benton et al. v. Deininger et al., 21 Fed. Rep., 2d series, 657.) Pleading—Paragraph of complaint in law action for damages asking for accounting may be stricken or regarded as surplusage. (National bank act (12 U. S. C. A. sees. 93, 161).1) (U. S. D. C. 1927.) In law action to recover damages for violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93,161)), by making false reports relative to resources and liabilites of bank, paragraph of complaint asking for accounting and that multiplicity of actions of substantially same character be avoided may be stricken or regarded as surplusage. (Ib.) In action for damages for making false reports as to bank's resources, p-roceedr ings before auditor are subject to supervision of court, (National bank act (12 U. 8. C. A. sees. 93, 161)}) (U. S. D. C. 1927.) Proceedings before auditor are subject to supervision of court in law action against several defendants for damages for violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93, 161)), by making false reports relative to resources of bank. (Ib.) Reference—Appointment of auditor to segregate and apply testimony to different causes of action does not take final determination1 of fact issues from jury. (National bank act (12 U. 8. C. A. sees. 93, 161).) (U. S. D. C. 1927.) In law action for damages for violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A. 93, 161), by making false reports relative to resources of bank, final determination of issues of fact must be made by jury at trial, notwithstanding that auditor was appointed to segregate and apply testimony to different causes of action. (Ib.) 1 -U. S. C. A. United States Code annotated. REPORT OF THE COMPTROLLER OF THE CURRENCY 175 In action for damages for making false reports as to bank's resources, 21 persons, who were directors of bank at different times, held properly joined as defendants. (National bank act (12 U. 8. G. A. sees. 93, 161).)1 (U. S. D. C. 1927.) In action for damages for1 violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A. sees. 93, 161)), for making false reports relative to resources of bank, brought by 23 stockholders of bank, who alleged 57 causes of action against 21 defendants, who were directors of bank at different times mentioned in complaint, there was no misjoiner of defendants. (Ib.) Action—Complaint for damages for bank directors' false reports as to resources stating 51 causes of action held not objectionable as multifarious. (National bank act (12 U. 8. G. A. sees. 93, 161).y (U. S. D. C. 1927.) In action for damages for1 violation of national bank act (Rev. St. sees. 5211, 5239 (12 U. S. C. A. sees. 93, 161)), for making false reports relative to resources of bank, complaint stating 57 causes of action against 21 defendants, who were directors of bank at different times mentioned, held not objectionable as multifarious. (Ib.) Recovery for violating statute by making false reports as to bank's resources depends wholly on extent of damages. (National banking act (12 U. 8. G. A. sees. 93, 161).x) (IT. S. I). C. 1927.) In action for damages for violation of national banking act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93, 161)), by making false reports as to resources of bank, there is no fixed penalty, and recovery depends wholly on extent of damages proven. (Benton et al v. Deininger et al., 21 Fed. Rep., 2d series, 659.) Action—Right of action against bank director for false reports of resources survives against defendant's personal representatives. (National banking act (12 V. 8. C. A. sees. 93, 161)1; Decedent Estate Law N. Y. sec 120.) (U. S. D. C. 1927.) Right of action against bank directors for violating national banking act (Rev. St. sees. 5211, 5239 (12 U. S. 0. A. sees. 93, 161)), by making false reports as to bank's resources, does not abate on death of defendant, but survives against his personal representatives under Decedent Estate Law New York (Consol. Laws, c. 13, section 120), since substance of action is remedial rather than penal. (Ib.) Courts—In determining whether right of action against bank director for making false reports survives against deceased defendant's1 representatives, laio of 8tate must guide Federal court. (National banking act (12 U. 8. C. A. sees. 93, 161).x) (U. S. D, C. 1927.) In determining whether right of action against bank director for violating national banking act (Rev. St. sees. 5211, 5239 (12 U. S. C. A.1 sees. 93, 161)), by making false reports as to bank's resources, survives against deceased defendant's personal representatives, law of State where action is originally brought must guide Federal court, since cause of action is to recover under remedial statute. (Ib.) OFFICERS, CRIMINAL LIABILITY OF Page JURISDICTION OF FEDERAL COURTS IN CRIMINAL CASES ABSTRACTION OF FUNDS WILLFUL MISAPPLICATION OF FUNDS FALSE ENTRIESAIDERS AND ABETTORS LIABILITY OF OFFICERS, OF STATE BANKS MEMBERS OF FEDERAL RESERVE SYSTEM . — TRIAL AND ITS INCIDENTS 1 U. S. C. A. United States Code annotated. 176 176 177 178 179 180 180 176 REPORT OF THE COMPTROLLER OF THE CURRENCY JURISDICTION OF FEDERAL COURTS IN CRIMINAL CASES Criminal law—Indictment held to allege national dank president received money and misappropriated it, contrary to Federal statute; indictment charging national bank president with receiving and misappropriating money held to charge offense within exclusive jurisdiction of Federal courts. (U. 8. Comp. 8t. sec. 9112.) (Sup. Minn. 1927.) An indictment examined and held to allege that defendant, as president of a national bank, received money of another, and, while so in possession thereof as such officer of the bank, misappropriated or misapplied the same, in violation of a Federal statute. The offense thus charged is within the exclusive jurisdiction of the Federal courts. (State v. Thornton, 214 N. W. Rep. 279.) ABSTRACTION OF FUNDS One participating in deposit and payment or collection of certificate of deposit held guilty of abstracting funds of bank with intent to injure bank and deceive examiner; " abstract." (U. S. C. C. A. 1927.) One who participated in deposit and payment or collection of certificate of deposit of Federal reserve member bank to deceive examiner by covering accumulated unpaid drafts, notes, and checks held guilty of abstracting moneys and funds of such bank with intent to injure and defraud it, and to deceive examiner, within Revised Statutes, section 5209, as amended by act September 26, 1918, chapter 177, section 7 (Comp. St. sec. 9772 (12 U. S. C. A. sec. 592) J 1 ; "abstract" meaning to take or withdraw from. (Westfall v. United States, 20 Fed. Rep., 2d series, 604.) IndActment and information—Indictment charging defendant aided and abetted in abstracting moneys from Federal reserve member bank held not to nega-1 tive participation as principal, nor duplicitous. (12 U. 8. G. A. sec. 592.) (U. S. C. C. A. 1927.) That indictment averred that defendant aided and abetted violation of Revised Statutes section 5209, as amended by act September 26, 1918, chapter 177, section 7 (Comp. St. sec. 9772 (12 U. S. C. A.1 sec. 592)), prohibiting abstracting of moneys and funds of Federal reserve bank or any member banks, with intent to injure bank and deceive examiner, held not to negative his participation as principal, nor open way to attack indictment for duplicity. (Ib.) Criminal law—Where witness was patient at insane hospital between time of crime and trial, rejection of adjudication of insanity held not substantial error, in view of other evidence. (U. S. C. C. A. 1927.) Where Government witness had been admitted as insane patient at State hospital between time of crime and trial, but had been paroled when called to testify, rejection of formal adjudication of insanity held not substantial error, in view of other evidence concerning his insanity. (Ib.) Conspiracy is not necessary incident to offense of unlawfully abstracting moneys from Federal reserve member bank. (12 U. 8. C. A. sec. 592.)1 (U. S. C. C. A. 1927.) Conspiracy is not necessary incident to and element of offense of abstracting moneys of Federal reserve bank or member bank, with intent to injure bank or deceive officer or examiner, defined by Revised Statutes, section 5209, as amended by act September1 26, 1918, chapter 177, section 7.) (Comp. St. sec. 9772 (12 U. S. C. A. sec. 592).) (Ib.) Criminal laiv—One may be prosecuted as principal and as conspirator to commit offense. (Comp. St. sec. 10201.) (U. S. C. C. A. 1927.) One may be prosecuted both as principal in and as conspirator to commit offense, in view of Penal Code, section 37 (Comp. St. sec. 10201), since, where separate offenses arise from same transaction, protection against double jeopardy does not apply, (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 177 WILLFUL MISAPPLICATION OF FUNDS Indictment agaimM officers of national bank for criminal misapplication of its funds held good against demurrer. (U. S. O. C. A. 1926.) An indictment charging officers of a national bank with knowingly, willfully, unlawfully, feloniously, and fraudulently misapplying funds of the bank, being the proceeds of notes deposited with the bank for collection, held to sufficiently negative consent of the owners of the notes to the alleged misapplication. (Bishop v. United States (2 cases), 16 Fed. Kept., 2d series, 406.) Proceeds of collections are " funds" of the bank as respects misapplication (Comp. St. sec. 9772). (U. S. 0. C. A. 1926.) Money received by a national bank in payment of notes it holds for collection, while remaining in its hands, constitutes " f u n d s " of the bank, within Revised Statutes, section 5209 (Comp. St. § 9772), making it an offense for an officer or employee to embezzle or misapply such funds. (Ib.) Criminal law—Variance is not fatal, unless prejudicial^ (U. S. C. C. A. 1926.) A variance between allegations in an indictment and the proof is not fatal, unless material and prejudicial. (Ib.) Criminal lam—Instruction as to facts ivarrantmg conmction must be limited to facts alleged. (U. S. 0. O. A. 1926.) Instruction as to what evidence would warrant conviction must be limited to facts alleged in the indictment. (Ib.) Criminal lam—Appellate court can not reform misleading instruction. (U. S. C. O. A. 1926.) An appellate court can not reform a statement in an instruction, made in a manner plainly tending to mislead or confuse the jury, though not so intended. (Ib.) Misapplication of funds mid intent to injure bank must combine to constitute misapplication of funds of national banks. {Comp. St. § 9772.) (U. S. C. C. A. 1926.) Two elements must combine to constitute the offense of " misapplication of funds " of a national bank, under Revised Statute, section 5209 (Compt S t § 9772) : (1) Misapplication of funds of the bank ; and (2) a willful and felonious intent to injure or defraud the bank. (Bishop v. United States (2 cases) ; Gates v. United States, 16 Fed. Rep., 2d series, 410.) National bank held liable for obligations of subsidiary corporation, which U controlled through stock ownership. (U. S. O. C. A. 1926.) Where a former department of a bank was separately incorporated, its stock being issued to the bank, which fully controlled its affairs, and its account was still carried on the books of the bank as the insurance department, the bank held liable for its obligations. (Ib.) Corporations—Where there is practical identity between corporation and another, lohich it owns and controls, courts will ignore separate legal entities. (U. S. C. C. A. 1926.) Where one corporation is subsidiary to and owned and controlled by another, courts will look through mere names to learn the real relationship between the corporations, and if there is practical identity will disregard the formal separation into legal entities. (Ib.) Evidence held not to sustain conviction of officers of national bank for criminal misapplication of funds. (U. S. 0. C. A. 1926.) Evidence held insufficient to sustain conviction of officers of a national bank for willful misapplication of its funds, where they were applied under advice of counsel in payment of claims for which there was at least a strong probability that the bank would have been held legally liable. (Ib,) 178 REPORT OF THE COMPTROLLER OF THE CURRENCY Criminal law—Unless substantial evidence excludes every other hypothesis but guilt, court should instruct verdict for accursed; evidence as consistent with mnoeence as guilt ivill not sustain conviction. (U. S. C. C. A. 1926.) Unless there is substantial evidence of facts which includes every other hypothesis but that of guilt, it is the duty of the trial court to instruct a verdict for accused; and where all the substantial evidence is as consistent with innocence as with guilt, it is the duty of the appellate court to reverse a judgment of conviction. (Ib.) Evidence held to sustain conviction of employee for* misapplication of funds of national bank. {Comp. St. § 9772.) (U. S. C. C. A. 1927.) Conviction of an employee of a national bank under Revised Statutes, section 5209 (Comp. St. § 9772), for misapplication of funds of the bank, held sustained by evidence that defendant collected a sum due the bank and intentionally failed to give credit for the same on the books, or to deposit it in the bank; that the bank lost the amount being inferable from such facts. (Thurston v. United States, 17 Fed. Rep., 2d series, 770.) Employee who converged proceeds of checks sent bank for collection held chargeable with misapplication of " funds of the bank." (Rev. St. § 5209, as amended by act Sept. 26, 1918 {Comp. St. § 9772).) (U. S. C. C. A. 1927.) Collection teller of a member bank of the Federal reserve system, who, as such, received checks and drafts sent to the bank for collection and credit or remittance, and who, after collection, failed to credit or remit the proceeds, but converted the same to his own use held chargeable with misapplication of funds under Revised Statutes, section 5209, as amended by act September 26? 1918 (Comp. St. § 9772) ; such proceeds, when collected, being " funds of the bank." (Wherrell v. United States, 18 Fed. Rep., 2d series, 532.) FALSE ENTRIES Customer's paper not considered in determining borrower's limit. (U. S. C. C. A. 1926.) Notes taken by borrower secured by chattel mortgage on the thing sold and discounted to bank, commonly called customers' paper, will not be considered in determining whether loans to borrower exceeded 10 per cent of its capital, which national bank is authorized to loan to one business. (Hyde v. United States, 15 Fed. Rep., 2d series, 816.) Criminal law. (U. S. C. C. A. 1926.) Instruction in prosecution under Compiled Statutes, section 9772, for alleged false entry by national-bank official, excluding consideration of testimony as to defendant's asking advice as to particular transaction from reputable bankers, hel4 erroneous as excluding showing of good faith. (Ib.) (U. S. C. C. A. 1926.) Where in prosecution of bank officer under Compiled Statutes, section 9772, for alleged false entries, different inferences might be drawn from given transaction, accused is entitled to most favorable inference. (Ib.) What not intent to deceive. (U. S. C. C. A. 1926.) Arrangement with customer to retire excessive loan by national bank with approval of national-bank examiner, held not to involve concealment or intent to deceive as would support conviction of bank officer under Compiled Statutes, section 9772. (Ib.) Evidence of intent to deceive. (U. S. C. C. A. 1926.) Evidence held insufficient to convict officer of national bank of intent to deceive under Compiled Statutes, section 9772. (Ib.) Notes taken from borroioer to strengthen customer's paper not required to be included in report to comptroller. (U. S. C. C. A. 1926.) National-bank officer held not required in report to comptroller to include notes taken from borrower to strengthen customer's paper discounted by borrower. (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 179 AIDERS AND ABETTORS Criminal law—In prosecution for aiding and abetting cashier in misapplying funds of national bank, admission in evidence of letters constituting no part of transaction held error, hut not ground for reversal. {Rev. Stat., sec. 5209, as amended by act Sept. 26, 1918, *ec. 7 (Comp. Stat., sec. 9772).) (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting cashier of national bank in misapplication of bank's funds by discounting note, repudiated by alleged accommodation makers, admission in evidence of letters from defendant relating to contemplated transactions between defendant and such makers, and constituting no part of any transaction between defendant and cashier or defendant and bank held error, but not ground for reversal. (Havener v. United States. 15 Fed. Rep., 2d series, 503.) In prosecution for aiding and abetting misapplication of national-bank funds, correspondence relating to extraneous matters held inadmissible. (Rev. Stat., sec. 5209, as amended by act Sept. 26, 1918, sec. 7 {Comp. Stat., sec. 9772).) (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting cashier of national bank in misapplication of bank's funds by discounting worthless note, correspondence between defendant and alleged accommodation maker of note relating to extraneous matters held inadmissible. (Ib.) When correspondence admissible. (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting in misapplication of national bank's funds by discounting worthless note, correspondence showing method of handling notes by bank held admissible. (Ib.) When correspondence inadmissible. (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772). for aiding and abetting cashier of national bank in misapplication of bank's funds by discounting worthless note, correspondence between maker and his attorney held inadmissible. (Ib.) Criminal law. (U. S. C. C. A. 1926.) In absence of objection to admission of evidence, assignment of error based thereon will not be considered. (Ib.) Proof of cashier's misapplication of national bank's funds was necessary to conviction for aiding and abetting him and cashier's conviction was prima facie evidence of his guilt. (Rev. Stat., sec. 5209, as amended by act Sept. 26, 1918, sec. 7 (Comp. Stat., sec. 9772).) (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting cashier of national bank in misapplication of bank's funds, proof of commission of primary offense by cashier was necessary to defendant's conviction, and evidence of cashier's conviction, was prima facie evidence of his guilt, and therefore admissible. (Ib.) Criminal law—In prosecution for aiding1 and abetting cashier's 'misapplication of bank's funds, proof of conviction of cashier should be made by record, and admission of parol proof thereof was error. (Rev. Stat., sec. 5209, as amended by act Sept. 26, 1918, sec. 7 (Comp. Stat., sec. 9772).) (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting cashier of national bank in misapplication of bank's funds, proof of cashier's conviction of primary offense should have been made by record of conviction, and proof thereof by cashier's parol testimony was error. (Ib.) 180 REPORT OF THE COMPTROLLER OF THE CURRENCY Criminal law—In prosecution for aiding and abetting cashier's misapplication of funds, error in admitting parol testimony of cashier's conviction was rendered harmless by admission of defendanfs counsel. (Rev. 8tat., sea. 5209, as amended by act Sept. 26, 1918, sec. 7 (Comp. Stat., sec. 9772).) (U. S. C. C. A. 1926.) In prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting cashier of national bank in misapplication of bank's funds, admission by defendant's counsel that record showed cashier's conviction, made in objecting to competency, materiality, and relevancy of record, waived production of record of conviction, and made error in admitting parol testimony as to such conviction harmless. (Ib.) Witnesses—In prosecution for aiding and abetting misapplication of bank's funds, cross-examination of witness as to prosecution of defendant for violation of State blue sky law* held> reversible error. (Rev. Stat. Kans. 17-1201 to 17-1222; Rev. Stat. U. S., sec. 5209, as amended by act Cong. Sept. 26, 1918, sec. 7 (Comp. Stat., sec. 9772).) (U. S. C. C. A. 1926.) Where witness, in prosecution under Revised Statutes, section 5209, as amended by act September 26, 1918, section 7 (Comp. Stat., sec. 9772), for aiding and abetting misapplication of national bank's funds by discounting of worthless note, testified on direct examination that he never denied liability to bank on his indorsement of note, cross-examination as to prosecution of defendant for violation of State blue sky law (Rev. Stat. Kans. 17-1201 to 17-1222), having no relation to direct examination, held reversible error, as not proper cross-examination, or as showing defendant's character which was not in issue. (Ib.) Criminal law. (U. S. C. C. A. 1926.) Any error in denying motion for directed verdict for defendant at close of Government's case was waived by defendant's subsequent introduction of further evidence. (Ib.) Criminal law. (U. S. C. C. A. 1926.) In absence of motion for directed verdict at close of evidence, assignment of error that trial court erred in not directing verdict for defendant at that time was without foundation. (Ib.) LIABILITY OF OFFICERS OF STATE BANKS MEMBEES OF FEDERAL RESERVE SYSTEM State banks which have joined the Federal reserve system, their officers, etc., are subject to the penalties of Revised Statutes, section 5209. The acts thus made criminal are punishable under the Icvws of the State. (U. S. Supt. 1927). Section 9 of the Federal reserve act, as amended June 21, 1917, is constitutional in so far as it provides that State banks which have joined the Federal reserve system, their officers, etc., shall be subject to the penalties of Revised Statutes, section 5209, which punishes misapplication, etc., of a bank's funds. The acts thus made criminal may be punishable also under the laws of the State. It is not a condition to the power of Congress to punish such acts that they result in any loss to the Federal reserve banks. When necessary in order to prevent an evil, the law may embrace more than the precise thing to be prevented. Congress may employ State corporations, with their consent, as Federal instrumentalities and make frauds that impair their efficiency crimes. (Westfall v. United States, 274 U. S. R. 256.) TRIAL AND ITS INCIDENTS Judges—Affidavit of prejudice of judge held filed too late. (Judicial Code, § 21 (Comp. St. § 988).) (U. S. C. C. A. 1926.) It is the intent of Judicial Code, section 21 (Comp. St. § 988), providing for the filing of an affidavit of prejudice against the trial judge that it shall be filed in time to save useless costs, and a motion and affidavit filed by a defendant on the day the case was reached for trial, setting up facts known to his counsel at least four days previously, held properly denied. (Bishop v. United States (2 cases) ; Gates v. United States, 16 Fed. Rep., 2d series, 410.) EEPORT OF THE COMPTROLLER OF THE CURRENCY 181 Evidence of officer's guilt of paying his taxes from national bank's fund held insufficient for jury. (U. S. C. C. A. 1927.) Evidence held insufficient to take to jury question as to national bank officer's guilt of paying his taxes out of bank's funds. (Bishop v. United States (two cases) ; Gates v. United States, 19 Fed. Rep., 2d series, 224.) Criminal laiv—Sufficiency of evidence to take guilt must be determined from record at close of evidence. (U. S. 0. C. A. 1927.) Whether evidence was sufficient to take to jury question of defendant's guilt must be determined on state of record at close of evidence. Former opinion, 16 Federal Reporter, 2d series, 410, modified, and trial court directed to proceed accordingly. (Ib.) Trial court held without power to impose fine on counts for violating national banking act. (Comp. St. sec. 9657 et seq.) (U. S. C. 0. A. 1927.) Trial court held not to have had power to impose $50 fine on each count of indictment for violation of the national banking act. (Comp. St. sec. 9657 et seq.) (Wenstrand v. United States, 20 Fed. Rep., 2d series, 325.) Criminal law—Concurrent sentence on several counts, within power of court to impose on any one, will not be set aside if any count charges sufficient facts. (U. S. C. C. A. 1927.) Where sentence imposed on each of counts, to run concurrently, was within power of court to impose for any single violation of law charged, judgment may not be set aside if any one count is sufficient to make out an offense, although all other counts may be found fatally defective. (Ib.) Count for violation of national banking act, alleging defendants converted moneys of bank held sufficient. (Comp. St. sec. 9657 et seq.) (U. S. C. C. A. 1927.) Count of indictment for violation of national banking act (Comp. St. sec. 9657 et seq.), alleging officers abstracted certain money and converted it to their own use, benefit, and advantage, as well as to use of other persons, held sufficient to uphold judgment of conviction. (Ib.) OFFSETS Insolvent bank can not set off general indebtedness of railroad against bank's liability for trust fund for benefit of railroad bondholders. (U. S. D. C. 1926.) Insolvent bank held not entitled to set off general indebtedness of railroad against bank's liability for trust fund held for benefit of railroad bondholders. (Poisson et al. v. Williams, Receiver Commercial National Bank, 15 Fed. Rep., 2d series, 582.) Bank which sold property held in trust to secure bond issue, holds proceeds as trustee for bondholders. (U. S. D. C. 1926.) Bank, which sold property conveyed to it by deed of trust to secure bond issue, held to receive and hold proceeds as trustee of express trust for benefit of bondholders, as respects priority. (Ib.) When State bank becomes a national bank character of trust funds does not change. (U. S. D. C. 1926.) Character of trust funds held by State bank did not change when it became national bank, where change did not destroy its identity or corporate existence. (Ib.) As respects priority cash coming into hands of insolvent bank's receiver held to include trust fund held by bank for benefit of railroad bondholders. (U. S. D. C. 1926.) Cash coming into hands of insolvent bank's receiver held to include trust fund which had been held by bank for benefit of railroad bondholders, where amount of cash in vaults had never fallen below total amount of trust funds held by bank since such fund was deposited. (Ib.) 182 REPORT OF THE COMPTROLLER OF THE CURRENCY Trusts. (U. S. D. C. 1926.) Trustee is presumed to make disbursements from his own money, rather than trust funds; rule that moneys are disbursed in order of receipt being inapplicable. (Ib.) Substituted trustees entitled to trust funds. (U. S. D. C. 1926.) Substituted trustee of fund held by insolvent bank held entitled to such fund in hands of bank's receiver, but not to interest. (Ib.) Final decree should he entered for substituted trustee against receiver of insolvent bank in suit to separate trust fund from other money held by receiver. (U. S. D. C. 1926.) Final rather than interlocutory decree should be entered for substituted trustee against receiver of insolvent bank in suit to separate trust fund from other money held by receiver, i% view of equity rule 37, where plaintiff was clearly entitled to relief requested. (Ib.) Removal of causes. (TJ. S. D. C. 1926.) Allegation relative to cause of action, which was stated in bill of complaint in State court, but not urged after removal, should be stricken. (Ib.) ORGANIZATION NAME OF NATIONAL BANK Approval of name by comptroller required—Court can not review comptroller's action. (Sup. Dist. Col. 1927.) Section 5133 of the Revised Statutes gives the Comptroller of the Currency the uncontrollable right to select the name for a national bank. This right is a part of the banking law and goes through and comes down to the act of May 1, 1886, in which a change of name is authorized with the approval of the Comptroller of the Currency. A bank having obtained its charter under this act, under which the comptroller is now about to act in authorizing the use of this particular name which is complained of, I do not see how the conclusion can be escaped that having taken a charter with knowledge that the comptroller might some day have a matter presented to him which would raise the very sort of question which is now raised in this case, Congress authorizes him to act in the matter and to determine what you might call the equities of the situation as far as administrative action was concerned. If the court now undertook to act in a matter of this kind, it would be practically going into the Treasury Department and undertaking to run the comptroller's office. I can not see anything else. (First National Bank of Pasadena v. Joseph W. Mclntosh, Comptroller of the Currency. Case not reported.) POWERS National bank held to have taken stock only in trust to sell, if possible, and not to have agreed to look to it only for payment of note. (TJ. S. C. C. A. 1926.) Where national bank's receipt for its own stock, delivered to it at time of making loan, recited that it held such stock "in trust for (borrower's) account being authorized to sell any part of it, * * * provided we can realize for you $106 per share or better, * * * and it is agreed that the stock will be sold by us, and your note liquidated from the proceeds of such sales," held, bank took stock only in trust, to sell, if possible, for accommodation of borrower, and had not agreed to look to it only for payment of note. (Jackman v. Continental National Bank et al., 16 Fed, Rep., 2d series, 728.) EEPORT OF THE COMPTROLLER OF THE CURRENCY 183 Statute held) to preclude holding that national bank had agreed to look only t(* proceeds of certain of its own stock delivered to it for payment of note, {Comp. 8t. § 9762.) (U. S. G. C. A. 1926.) Where bank's receipt for its own stock, delivered to it on making of loan, recited that it held the stock "in trust," and was " authorized " to sell it at a certain price, and further, " it is agreed that the stock will be sold by us and your note liquidated from the proceeds of such sales," heldi Compiled Statutes, section 9762. prohibiting any national banking association from purchasing any of its own capital stock, precluded holding that bank had agreed to look to proceeds of note alone for payment. (Ib.) Contracts—Lawful constructions of contract will be adopted, if reasonable and permissible. (U. S. C. C. A. 1926.) When a contract is open to two constructions, the one lawful and the other unlawful, the former must be adopted, if reasonable and permissible. (Ib.) Contract whereby national bank agreed to look only to proceeds of its own stock for payment of note held void even as betiveen parties, (Comp. St. § 9762, (IT. S. C. C. A. 1926.) Alleged contract by which national bank agreed to look only to proceeds of certain of its own stock, deposited with it for payment of note, if established, held void under Compiled Statutes, section 9762, even as between the parties, notwithstanding rule precluding debtors, borrowers, and private parties generally from complaining of unwarranted exercise of powers by national banks. (Ib.) National bank contracting beyond its power is not liable for anything beyond what it has received. (U. S. C. C. A. 1926.) Undertaking by national bank beyond its power to contract will not support action against it to recover anything beyond value of what it has actually received and enjoyed. (Ib.) National bank, making unauthorized loan, and borrower held not in -part delicto as affecting bank's right to set up its want of power. (Comp, St. § 9762.) (U. S. C. C. A. 1926.) National bank, making loan on security of its own stock, or agreeing to look only to certain pledged stock for payment of note, in violation of Compiled Statutes, section 9762, and borrower, held not in pari delicto as affecting right of bank to set up its want of power to make the agreement alleged. (Ib.) SHAREHOLDERS ASSESSMENTS Page CONCLUSIVE NESS OF COMPTROLLER'S ACTION WHO DEEMED TO BE SHAREHOLDERS FOR ASSESSMENT STATE BANKS—DETERMINATION OF SHAREHOLDERS' LIABILITY 183 184 i85 CONCLUSIVENESS OF COMPTROLLER'S ACTION Comptroller of Currency properly appointed receiver and assessed stockholders on assuming jurisdiction of national bank after another bank repudiated eon* tract for liquidation, (National bank act, June SO. 1876, sees. 1, 2, 3 (Comp, St., sees. 9807, 9826, 9827).) (U. S. C. C. A. 1927.) Under national bank act, June 30, 1876, sections 1, 2, 3 (Comp. St., sees. 9807, 9826, 9827), Comptroller of Currency properly appointed receiver, and assessed shareholders of national bank on assuming jurisdiction of the affairs thereof, after another bank had repudiated contract entered into for liquidation of its affairs. (Liberty National Bank of South Carolina at Columbia v. Mclntosh. Comptroller of the Currency, et al.; Mclntosh, Comptroller of Currency, et aL v. Liberty National Bank of South Carolina at Columbia, 16 Fed, Rep., 2d series, 906.) 71284°—28 -13 184 ItiEPORtf OF THE COMPTROLLER OF THE Comptroller of Currency's jurisdiction in respect to liquidation* of national banks is exclusive. (U. S. O. C. A. 1927.) Jurisdiction of Comptroller of Currency in respect to all matters properly within his discretion relative to> liquidation of national banks is exclusive, and his action therein is not subject to review. (Ib.) Decisions of Comptroller of Currency are not subject to collateral attack, nor is his assessment against shareholders reviewable, in absence of fraud. (U. S« C. C. A. 1927.) Decisions of Comptroller of Currency relative to liquidation of national banks are not subject to collateral attack, nor is his assessment against shareholders, and amount thereof open to review, in absence of fraud. (Ib.) Receiver, taking possession of assets of national bank on appointment by Comp^troller of Currency, assumes control thereof as officer of United States. (U. S. C. C. A, 1927.) Where Comptroller of Currency appoints a receiver of a national bank, receiver takes possession of assets of bank and assumes control of its operation, not as agent of bank, but as officer of the United States. (Ib.) Appeal and error—Trial court held to have improperly granted injunction pending appeal from decree denying injunction, in absence of peculiar circumstances warranting it. (Judicial Code, sec. 129 (Comp. St., sec 1121).) (U. S. C. C. A. 1927.) Trial court held to have improperly granted injunction pending appeal from decree refusing to enjoin Comptroller of Currency from collecting assessment against shareholders of national bank, since, although such appeal is authorized under Judicial Code, section 129 (Comp. St., sec. 1121), effect of granting injunction operates as securing relief denied on original application, which is abuse of discretion, in absence of peculiar circumstances warranting it. (Ib.) WHO DEEMED TO RE SHAREHOLDERS FOR ASSESSMENT Heal owmer of national-bank stock may be treated as "shareholder" within> meaning of law authorizing assessments. (Rev. St., sec. 5151, as amended by act Dec. 28, 1913, sec. 23 (Comp. 8t.f sec. 9689).) (17. S. D.'C. 1927.) Real owner of shares of capital stock of national banking association may in every case be treated as "shareholder," within meaning of Revised Statutes, section 5151, as amended by act December 23, 1913,'/section 23 (Comp. St., see. 9689), authorizing 100 per cent assesment against shareholder. (McCandless v. Haskins et al., 20 Fed. Rep., 2d series, 688.) Person allowing himself to appear as registered owner of national-bank sluires may be treated as " shareholder," within law authorizing assessment. (Rev. St.. sec. 5151, as amended by act Dec. 23, 1913, sec. 23 (Comp. St., see. 9689).) (U. S. D. C; 1927.) Any person who holds himself out as owner of shares of national bank by allowing himself to appear as registered owner thereof on books of banking association may be treated as a " shareholder," within meaning of Revised Statutes, section 5151, as amended by act December 23, 1913, section 23 (Comp. St., sec. 9689), authorizing assessment. (Ib.) Real owner transferring national-bank shares to another person to evade responsibilities may be treated as "shareholder" and liable for assessment^ (Ret). St., sec. 5151, <is amended by act Dec. 23, 1913, sec. 23 (Comp. St., sec. 9689).) (IT. S. D. C. 1927.) If real owner of national-bank shares transfers them to another person, or causes them to be placed on books of banking asso^ ciation in name of another person, with intent to evade responsibilities imposed by Revised Statutes, section 5151, as amended by act December 23, 1913, section 23 (Comp. St., sec. 9689), such person may be treated for purpose of that section as a "shareholder" and liable for assessment .therein prescribed, (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 185 Person receiving national-bank shares as collateral held not "shareholder" tint fain law authorizing assessments. {Rev. St., sec. 5151, as amended by a<et Dec. 23, 1913, sec. 23 (Comp. St., sec. 9689).) (U. S. D. C. 1927.) Person receiving shares of stock of national banking association as. collateral security for a debt due from owner in good faith and for purpose only of securing payment of that debt without incurring responsibility of shareholder, will not be treated as " shareholder," within meaning of Revised Statutes, section 5151, as amended by act December 23, 1913, section 23 (Comp. St. sec. 9689), authorizing assessments. (Ib.) Directors taking into bank cashier's stock in exchange for notes, on his removal and advancing money to bank with stock as security, held not liable for assessments. (Rev. St., sec. 5151, as amended by act Dec. 23, 1913, sec. 23 (Comp. St., sec. 9689).) (U. S. D. C. 1927.) Bank directors taking into bank stock of cashier in exchange for certain notes after demand of bank examiner that cashier be removed, and on failure to dispose of stock as planned to new cashier, advancing money with agreement that stock should be held as security for sum advanced, held not liable as shareholders for assessment under Revised Statutes, section 5151, as amended by act December 23, 1913, section 23. (Comp. St., sec. 9689.) (Ib.) Bank's purchase of cashier's stock on removal held not void, and not to vest title in directors or subject them to assessment. (Rev. St. sec. 5151, as amended by act Dec. 23, 1913, sec. 23 (Comp. St. sec. 9689').) (U. S. D. C. 1927.) Bank's purchase of cashier's stock on his removal giving him in exchange therefor certain notes, though ultra vires, held not void, so as to automatically vest title thereto in directors, within meaning of Revised Statutes, section 5151, as amended by act December 23, 1913, section 23 (Comp. St. sec. 9689), authorizing assessment against shareholders. (Ib.) Individual liability of stockholder in national bank continues for 60 days after transfer of stock. (Federal reserve act, sec. 23 (Comp St, sec. 9689').) (IT. S. C. C. A. 1927.) Under the provisions of Federal reserve act, section 23 (Comp. St. sec. 9689), that stockholders who shall have transferred their shares or registered the transfer within 60 days next before the date of failure of a national bank shall be liable to the same extent as if they had made no such transfer, the double liability of a stockholder continues for 60 days after transfer of his stock, though tiie bank way solvent when the transfer was made, and may be enforced if failure occurs within the 60 days. (Fletcher et al. v. Porter, 20 Fed. Rep, 2d series, 23.) STATE BANKS—DETERMINATION OF SHAREHOLDERS' LIABILITY Superintendent of banks can not delegate determination of stockholder's Mmbility to depositors, or assessment and collection* thereof. (Banking act Go. 1919, art: 2, sec. 10; art. 7, sees. 9, 10, 23, and sec. 20, as\ amended by acts 1925, p. 130).) (U. S. D. C. 1927.) Authority of superintendent of banks to •determine stockholder's liability to depositors and assessment and collection thereof under banking act, Georgia, 1919 (acts 1919, p. 135), article 7, section 20. as amended by acts 1925, page 130, can not be delegated to agent by power of attorney authorized by article 7, sections 9, 10, of act of 1919, notwithstanding section 23 and article 2, section 10. (In re Giles, 21 Fed. Rep., 2d series, 537.) Officers—Public officer is agent who can not intrust performance of duties^ except mechanical or ministerial acts, to others without consent of principal. (U. S. D. C. 1927.) Public officer is, in large sense, agent who may not intrust performance of his duties to another without consent of principal, except that he may delegate to subagent execution of mechanical, clerical, or ministerial acts, where they are not expressly required to be performed by him. (Ib,) 186 REPORT OF THE COMPTROLLER OF THE CURRENCY TAXATION ASSESSMENT OF SHARES Evidence given in State court may he reviewed—finding of State court not conclusive. (U. S. Sup. 1927.) Upon review of a judgment of a State court sustaining a discriminatory State tax on national-bank shares upon the ground that the other moneyed capital, favored by the discrimination, was not employed in competition with the business of the national bank* this court may review the evidence regarding such competition and is not concluded by the finding of the State court. (First National Bank of Hartford, Wis. v. City of Hartford et al., 273 TJ. S. R. 548.) Validity of State tax on national-hank shares at greater rate than assessed on other moneyed capital. (U. S. Sup. 1927.) The validity, under Revised Statutes, section 5219, of a State tax on national-bank shares at a greater rate than that assessed on other moneyed capital depends upon whether or not the moneyed capital thus favored is employed in such a manner as to bring it into substantial competition with the business of national banks. (Ib.) Equality of taxation on shares of stock in national ba>nks and other capital employed in same sort of business required. (U. S. Sup. 1927.) The requirement of approximate equality in taxation (R. 8. sec. 5219) is not limited to moneyed capital invested in State banks or to competing capital employed in private banking; it applies wherever capital, substantial in amount compared with the capitalization of national banks, is employed in a business, or by private investors, in the same sort of transactions as those in which national banks engage and in the same locality in which they do business. (Ib.) Only those personal investments that are not in competition ivith ritottdnal banks excluded from term moneyed capital. (U. S. Sup. 1927.) The amendment Of section 5219 by act of March 4, 1923, merely expressed what was previously implied, and by its terms excludes from " moneyed capital ** only those personal investments which are not in competition with the business of national banks. (Ib.) What proof of competition required. (U. S. Sup. 1927.) Proof of competition by untaxed capital involves showing that it is employed in such investments as are open to national banks. (Ib.) Evidence of competition. (IT. S. Sup. 1927.) In this case the evidence shows substantial competition with national banks by untaxed capital in the business of making loans and selling credits and also by capital of private individuals who, as investors of surplus funds, were engaged in lending money at interest on real-estate mortgages and other evidences of indebtedness, normal to banking. (Ib.) Evidence of emnpetition, (U. S. Sup. 1927.) To establish the fact of competition, it is not necessary to show that national banks and the other investors solicit the same customers for the same loans or investments. It is enough if both engage in seeking and securing in the same locality investments of the class described which are substantial in amount. (Ib.) Real estate mortgages, sale of, by national banks. (U. S. Sup. 1927.) The sale of real-estate mortgages and other evidences of debt acquired by way of loan or discount with a view to reinvestment is within the incidental powers of national banks, (Ib.) REPORT OF THE COMPTROLLER, OF THE CURRENCY 187 Discrimination against national-hank shares forbidden, whether legislation be friendly or unfriendly. (U. S. Sup. 1927.) The fact that discrimination against national-bank shares is not unfriendly or hostile, but is induced by the State policy of substituting income taxes for personal property taxes, does not render Revised Statutes, section 5219, inapplicable. (187 Wis. 290, reversed.) (Ib.) United States Supreme Court ivill accept negative finding of the State court, where the evidence is in some particulars conflicting and the finding is supported by evidence and not certainly against weight of evidence. (U. S, Sup. 1927.) Upon the question of fact whether capital invested by individuals in bonds and cither securities, was so invested as to come in competition with national banks (Rev. Stats., sec. 5219), this court will accept the negative finding of the State court, where the evidence is in some particulars conflicting and the finding is supported by evidence and not certainly against the weight of evidence. So held where the evidence fell short of establishing that the capital wras employed substantially as in the loan and investment features of banking in making investments by way of loan or discount or in notes, bonds, and other securities, with a view to sale or repayment or rein vestment. (208 Ky. 7, affirmed.) (Georgetown National Bank v. MeFarland et ai.. 273 U. S. R. 568.) Taxation of shares measured by value of shares. (U. S. Sup. 1927.) The taxation of national-bank shares, authorized by Revised Statutes, section 5219, is against the holders of the shares and is to be measured by the value of the shares, and not by the assets of the bank without deducting its liabilities. (Minnesota v. First National Bank of St. Paul, 273 U." S. R, 561.) Tax on national-bank shares at greater rate than that imposed on competing credits can not be sustained. (U. S. Sup. 1927,) A tax on national-bank shares at a greater rate than that imposed on competing credits in the hands of individuals can not be sustained upon the ground that the discrimination is removed in practice by deducting liabilities of the bank from its assets in valuing its shares, while allowing no deduction of their liabilities to individuals in valuing their credits. (Ib.) Shares in capital of corporations in note-brokerage business or bulling or sellwuj securities are " moneyed capital,'" (U. S. Sup. 1927.) The shares of corporations employing capital in the notebrokerage business or in buying and selling securities are " moneyed capital in the hands of individual citizens" (R. S., sec. 5219), i. e,, the individuals holding the shares. (Ib.) Glasses of business competition of which is guarded against by section 5219, (U. S. Sup. 1927.) The competition guarded against by section 5219 may arise from the employment of capital invested in a business, even though the competition be with some but not all phases of the business of national banks, or it may arise from the employment of capital invested by institutions or individuals in particular operations or investments like those of national banks, (Ib.) Evidence. (U. S. Sup. 1927.) The evidence sustains a finding by the State court that moneyed capital in the hands of individuals was in competition with the business of national banks, including the plaintiff. (Ib.) Surplus capital of individuals investing in bonds, mortgages, etc., in competition witli national banks is moneyed capital coming into corn-petition, tcith business of national bank. (IT. S. Sup. 1927.) Surplus capital of individuals seeking investment and reinvestment in bonds, mortgages, and other evidences of indebtedness, in competition with the capital of national banks, is moneyed capital coming into competition with the business of national banks, within the meaning of Revised Statutes, section 5219. 164 Minnesota 235, affirmed. (Ib,) 188 REPORT OF THE COMPTROLLER OF THE CTJREEHCY TRUSTS Gross reference: Checks— Pags Payment of checks on trust funds .___ ..___ 150 Appeal and error—Findings of special master, approved by Ghanmllor, may he set aside for obvious error in law, or m considering evidence, or if against clear weight of evidence. (U. S. .0. C. A. 1927.) Though findings of a special master approved by the chancellor will ordinarily not be set aside by appellate court, if master's findings were caused by an obvious error in applying the law, or serious mistake in considering evidence or are clearly against the weight of evidence, appellate court may set them aside, (Leathe v. Title Guaranty Trust Co.. 18 Fed. Rep., 2d series, 41.) Trusts1—Agreement under which plaintiff conveyed realty to trust company guaranteeing title held to authorize trust company to sell property: (U. S. C. C. A. 1927.) Agreement under which plaintiff conveyed realty to trust company in consideration of its guaranteeing title of realty acquired by plaintiff under her deceased husband's will to indemnify it against loss, and authorizing it to sell sufficient realty to satisfy large judgment against husband's estate and other charges, held to authorize trust company to sell realty to pay such judgment, as against contention that it was volunteer or meddler in doing so, and fact that judgment was assigned to one of trust company's officers was immaterial. (Ib.) Trusts—Trust cmnpany to whwh plaintiff conveyed realty in consideration for its guaranteeing title held not required to pay judgment against plaintiff without request. (U. S. C. C. A. 1927.) Where plaintiff conveyed realty to trust company in consideration of its agreement to guarantee title of realty sold by plaintiff acquired by her under her deceased husband's will, a large judgment having been rendered against husband's estate, any property remaining unsold to be reconvened to plaintiff, held, that it was not trust company's duty as trustee to pay off another judgment against plaintiff to prevent judgment sale of plaintiff's realty without request from plaintiff to do so and offer to secure trust company for the advancement. (Ib.) Trusts—Trustee may purchase beneficiary's property to protect interests of trust. (U. S. C. C. A. 1927.) Rule that court of equity will not permit trustee to purchase property of beneficiary under a paramount title does not apply where purchase is made by trustee to protect interest of trust, including its own interests, and is not for personal gain of trustee nor adverse to beneficiary. (Ib.) Trusts—Facts held to show trust company purchased beneficiary's r< alty about to be sold under foreclosure in trust for beneficiary. (U. S. C. C. A. 1927.) That trust company, which purchased property about to be sold under mortgage foreclosure and belonging to beneficiary of trust of which it was trustee, charged purchase price and other expenditures in connection with purchase to beneficiary's account on dates of payments and rendered complete statements of account to beneficiary's attorneys, held to show that it acquired title in trust for beneficiary and not for its own use, and that title was taken in name of its employee for convenience only. (Ib.) Trusts—That trust company guaranteed plaintiffs title in amount greater than cash received after selling stock taken in part payment held not improper. 1 ' (XJ1 S. C. C A. 1927.) That trust company under its agreement to guarantee title to plaintiff's realty, against which large judgment had been rendered, guaranteed title in sum of $415,000 on realty sold for $500,000, and charged therefor and paid realtors' commissions on sale accordingly instead of on basis of what plaintiff actually received after stock taken in part payment was sold, held not prejudicial to plaintiff, since purchaser had right to demand guaranty on entire purchase price. (Ib.) REPORT OF THE COMPTROLLER OF THE CURRENCY 189 Trusts—That realtors who sold plaintiff's property held in trust .divided commissions with realtor, who was officer of trustee, held not improper(U. S. C. C. A. 1927.) That realtors who sold plaintiff's property held in trust by trust company divided commissions received with another realtor, who was also a director of trust company, held not improper and did not prejudice plaintiff. (Ib.) Account stated—Failure to object to statement showing price received, charges for guaranteeing title, and realtors' commissions, held to make account stated. (U. S. C. C. A. 1927.) Failure to object to statement of trust company showing price received on sale of realty held in trust and charges for guaranteeing title and realtors' commissions, within reasonable time after receipt thereof, made it an account stated, and estopped recipient from denying liability for charges contained therein, whether he was actually liable for them or not. (Ib.) Trusts—That trust company to which plaintiff conveyed realty to\ indemnity u against loss under its guaranty of title violated duties as trustee held not proved. (U. S. C. C. A. 1927.) In suit for accounting against trust company as trustee of realty conveyed to it by plaintiff in consideration of its agreement to guarantee title of plaintiff's realty, acquired under will of her deceased husband and against which a large judgment had been rendered, evidence held not to show that trust company failed to discharge its duties as trustee. (Ib.) Election of remedies—Substituted trustee's filing of claim against receiver of former trustee for paymemts on trust deed did not preclude action against banlc appropriating money. (IT. S. C. C. A. 1927.) Where money paid on trust deed was appropriated by bank in payment of debt of insolvent trustee, substituted trustee's action in filing claim against receiver for insolvent trustee was not such election of remedies as would preclude right to sue bank for amount claimed. (First National Bank of Chicago v. Newhouse, 17 Fed. Rep., 2d series, 228.) Evidence held to show that bank's application of payments on trust &eed to trustee's debt tvas with knowledge of trust character of payment, (U. S. C. C. A. 1927.) Evidence held to show that appropriation by bank of payments on trust deed for payment of indebtedness of insolvent trustee in accordance with contract was not made until after full knowledge of trust character of funds. (Ib.) DECISIONS OF STATE COURTS The following decisions of State courts are of particular interest to banks for the year ended November 15, 1927, and include decisions for the year reported in the following reporters: 134 AtL, 305, to 138 Atl., 864. 217 N. Y. S., 593, to 224 N. Y. S., 228. 153 N. E., 177, to 158 N. E., 288.' 210 N. W!, 49, to 215 N. W., 592. 248 Pac., 657, to 259 Pac, 1024. 109 So., 473, to 114 So., 80. 134 S. E., 385, to 138 S.'E., 688. 286 S. W., 1, to 298 S. W., 320. These decisions are arranged in accordance with the treatment of the subject with which they are connected in Patoivs Digest, The abbreviation " P. D." refers to Paton's Digest. The decisions were furnished by Mr. Thomas B. Paton, general counsel for the American Bankers' Association. 190 REPORT OF THE COMPTROLLER OF THE CURRENCY DECISIONS OF STATE COURTS OF PARTICULAR INTEREST TO BANKS FOR THE YEAR ENDED NOVEMBER 15, 1927 ACCEPTANCE AND CERTIFICATION. P. D. 1-131 Duty to certify checks. P. D. 4. Wachtel v. Rosen, 221 N. Y. S. 710. Failure of drawee bank to return check within 24 hours considered as acceptance. P. D. 25. Clarke v. National Bank of Montana, 252 Pac. (Mont.) 373. Preference to holder of certified check on bank's insolvency. P. D. 84. Lloyd v. Butler County State Bank. 253 Pac. (Kan.)" 906. ACCEPTANCES—TRADE P. D. 143-222 Negotiability of trade acceptance. P. D. 168. Wakem«\ Schneider, 213 N. W. (Wis.) 328. Heller v. Cuddy, 214 N. W. (Minn.) 924. Lane Co. v. Crum, 291 S. W. (Tex.) 1084. (One of the most important decisions of the year resulting in proposed change in form of trade acceptance.) ACCOMMODATION PAPER. P. D. 223-297 Extension of time as discharge of accommodation maker. P. D. 268. J. I. Case Threshing Machine Co. v. Howth, 293 S. W. (Tex.) 800. BANKS AND BANKING. P. D. 465-605 Branches of trust company outside of city where main office is located. P. D. 494. Media Title & Trust Co. v. Cameron, 137 AtL (Pa:) 129. BRANCH BANKING. Branches as separate entities. P. D. 494. Sokoloff• v. National City Bank of New York, 224 N. Y. S. 102. BRANCH BANKING. Forfeiture by depositor of his right because of negotiation by bank for the deposit away from its office. P. D. 494. Mulliner v. McCornick & Co., 257 Pac. (Utah) 658. BRANCH BANKING. P. D. 494. Bank of Italy v. Johnson, 251 Pac. (Cal.) 784. BRANCH BANKING. Distinction between branch and additional office where deposits are made and checks cashed. P. D. 494. Marvin v. Kentucky Title Trust Co., 291 S. W. (Ky.) 17. Power of bank to act as agent for sale of customers securities and investment of proceeds. P. D. 513. Parr v. Gardner, 293 S. W. (Tex.) 859. Right of bank to pledge assets for general deposit. Divide County v. Baird. 212 N. W. (N. D.) 236. P. D. 519. Power of bank to pledge securities for deposit. P. D. 519. Williams v. Hall. 249 Pac. (Ariz.) 755. Investment by bank in real estate bonds. P. D. 547. First State Bank of Kansas City v. Bone, 252 Pac. (Kan.) 250, BRANCH BANKING. REPORT OF THE COMPTROLLER OF THE CURRENCY 191 Power of bank to make guaranty. Distinction between guaranty and letter of credit. P. D. 555. Bridge i>. Welda State Bank, 292 S. W. (Mo.) 1079. Power of state taxing authorities to examine bank records. P. D. 565. State v. Smith, 157 N. E. (Ohio) 327. Liability of bank for misrepresenting solvency of maker of note where bank officer acts as agent of depositor in making loan. P. D. 572. Johnson v. Farmers' & Merchants' Bank of Montrose. 287 S. W. (Mo.) 835. Representation by cashier as to credit of third party. Liability of bank. P. D.*572. Williams v. Eavaima Bank, 289 S. W. (Mo.) 34. Liability of collecting bank for failure to present check to drawee bank and for return of such item with notice that the. depositor's account is charged therewith; libel. P. D. 574. Cox v. National Loan & Exchange Bank, 136 S. E. (S. C.) 637. False notice to buyer of automobile that bank held mortgage on car as libel. Recovery of $3,000. for loss of credit, P. D. 574. Eby v. Wilson. 289 S. W. (Mo.) 639. BANKS—NATIONAL. P. D. 606-757 Liability of national banks on ultra vires guaranty to extent of benefits received. P. D. 740. Stockyards Nat. Bank of Denver v. Brown. 255 Pac. (Colo.) 624. BANK OFFICERS, DIRECTORS, AND EMPLOYEES. P. D. 758-796 Liability of bank for cashier's act in instigating a criminal prosecution maliciously and without probable cause. P. D. 765. Cumberland State Bank v. Ison. 291 S. W. (Ky.) 405. BANK OFFICERS, DIRECTORS, EMPLOYEES—NATIONAL BANKS. P. D. 797-830 Criminal liability under State law for embezzlement by national bank officer of its funds. P. D. 825. State v. Thornton, 214 K W. (Minn.) 279. BANK STOCK AND STOCKHOLDERS. P. D. 831-916 Right of stockholder, paying assessment to repair capital before closing of bank, to credit for same on stockholder's liability after closing. P. D. 838. Andrew v. Farmers* Trust & Savings Bank of Charles City, 213 N. W. (Iowa) 925. Payment of assessment to repair capital as defense to subsequent stockholder's liability. Agreement by banking commissioner that further assessment would not be required. P. D. 838. Austin v. Fleming, 290 S. W. (Text) 835. 192 REPORT OF THE COMPTROLLER OF THE CURRENCY Stockholders' liability. P. D. 839. Commissioner of Banks t\ Tremont Trust Co., 156 N. E. (Mass.) 7. Acceptance by bank of its own capital stock in payment of note held by it is void. Transaction does not constitute payment. P. D. 913. White v. Whitehurst, 139 S. E. (N. C.) 598. BANKBUPTCY AND INSOLVENCY. P. D. 917-953 Payment of cash without knowledge of filing of petition in bankruptcy against drawer. P. D. 927.5. Cunningham v. Lexington Trust Co., 156 N. E. (Mass.) 1. False financial statement as bar to discharge in bankruptcy. Intent to deceive. Reliance of creditor on statement. What constitutes falsity. Omission of item of indebtedness which maker of statement did not believe he owed. Omission of debts known to creditor. P. D. 949. Underwood v. Ajax Rubber Co. (Inc.), 296 S. W. (Tex.) 964. Holder of cashier's check as depositor under statute given priority of claim. P. D, 950.7. In re Citizens' State Bank of Gooding, 255 Pac. (Idaho) 300. CHECKS. P. D. 1097-1394 Live stock checks. Duty of bank to pay although funds insufficient where check was for purchase of live stock and the draft constituting the proceeds of the sale had been deposited. P. D. 1190. State v. Trimble, 289 S. W. (Mo.) 796. Checks without funds. Criminal liability. Check given for rent in advance for premises not thereafter occupied. P. D. 1260. Bradford v. State, 113 So. (Ala.) 650. Checks without funds. Offer of repayment before check presented. P. D. 1260. Arlington v. State, 296 S. W. (Tex.) 568. Checks without funds. Criminal offense. Postdated checks. P. D. 1270. Ex parte Griffin, 257 Pac. (Cal.) 4:58, Check without funds. Criminal liability. Postdated check. P. D. 1270. Ex parte Scott, 259 Pac. (Cal.) 101. Duty of depositor to examine pass book to discover wThether bank made negligent or wrongful payment. P. D. 1287. Dow v. StockportSavings Bank, 210 N. W. (Iowa) 815. Duty of bank depositor to examine statements and vouchers. P. D. 1287. Trust Co. of Norfolk v. Snyder, 138 S. E. (Va.) 477. Duty of depositor to examine vouchers. Delegation by corporate depositor of duty to single officer who acts in fraud of corporation. P. D. 1287. Calvin Coal Co. v. First National Bank of Bastrop, 286 S. W. (Tex.) 901. Fiduciary checks. Corporate check issued for personal debt. Received by bank in payment of personal debt. P. D. 1315. Boyle v. Lewiston Trust Co., 136 Atl. (Me) 292, REPORT OF THE COMPTROLLER OF THE CURRENCY 193 Fiduciary checks. Note belonging to corporation used to pay personal debt. P. D. 1315. Fehr. v. Campbell. 137 Atl. (Pa.) 113. Fiduciary checks. Liability of bank paying checks on fraudulent order of fiduciary. P. D. 1322. Eastern Mutual Insurance Co. v. Atlantic National Bank, 157 N. E. (Mass.) 520. Liability where customer requests American Bankers Association travelers' checks and by false statements other travelers' checks are substituted. P. D. 1367. Lesch v. Farmers' & Merchants' State Bank of New Salem, 211 N. W. (N, D.) 687. Wrongful dishonor. Substantial damages where drawer nontrader. P. D. 1371.4. Meinhart v. Farmers5 State Bank. 259 Pac (Kan.) 698. COLLECTION. P. B. 1417-1626 Eight of bank to refuse collection; agency for collection through extended course of dealing. P. D. 1440. McEnelly v. American Nat. Bank of St. Paul, 214 N. W. (Minn.) 922, Collection. Duty of collecting bank with respect to presentment, notice of nonpayment, etc. P. D. 1463. Continental ^National Bank of Indianapolis o. Discount & Deposit State Bank of Kentland, 157 N. E. (Ind.) 433. Liability for default of correspondent. P. D. 1471. Jensen v. First National Bank of White, 213 N. W. (S. IX) 854. Liability for default of correspondent. P. D. 1471, Gamble v. Sioux Falls National Bank, 213 N. W. (S. D.) 857. Duty of collecting bank to transmit by registered mail. P. D. 1516. Matlocfc v. Citizens' Nat, Bank of Salmon, 250 Pac. (Idaho) 648. Acceptance by collecting bank of draft. P. D. 1554. Hommerberg v. State Bank of Slay ton, 212 N. W. (Minn.) 16 State v. Hanson, 213 N. W. (N. D.) 353. Tropena v. Keokuk National Bank, 213 N. W. (Iowa) 398. Berg v. Federal Reserve Bank of Minneapolis. 213 N. W. (N. D.) 963. Hicks Co. Limited v. Federal Reserve Bank of St. Louis, 296 S. W. (Ark.) 46. Collecting bank receiving draft in payment. Federal Reserve Bank. P. D. 1554. Transcontinental Oil Company v. Federal Reserve Bank of Minneapolis, 214 N. W. (Minn.) 918. Receipt of draft by collecting bank. Collection for Federal Reserve Bank. P. D. 1558. Rainwater t\ Federal Reserve Bank of St. Louis, 290 S. W. (Ark.) 69. 194 REPORT OF THE COMPTROLLER OF THE CURRENCY Insolvent bank. Priority of claim. P. D. 1589. Claims of various kinds considered. Leach v. Mechanics' Savings Bank, 211 N. W. (Iowa) 506. Leach v. Iowa State Savings Bank of Manning, 211 N. W. (Iowa) 515. Andrew v. Chicago, M. & St. P. By. Co., 211 X. W. (Iowa) 515. Leach v. Iowa State Savings Bank of Manning, 211 N". W. (Iowa) 517. Leach v. Battle Creek Savings Bank of Battle Creek, 211 1ST. W. (Iowa) 519. Leach v. Battle Creek Savings Bank, 211 N". W. (Iowa) 520. Leach v. Carper, 211 N. W. (Iowa) 532. Leach v. Farmers' & Merchants' Sav. Bank of Mt. Pleasant, 211 N. W. (Iowa) 535. Leach v. Farmers' & Merchants' Sav. Bank of Boyer, 211 1ST. W. (Iowa) 536. Dickinson County v. Leach, 211 1ST. W. (Iowa) 542. Union State Bank of Lancaster v. People's State Bank of Lancaster, 211 N. W. (Wis.) 931. Andrew v. Farmers' State Bank of Batavia, 212 N. W. (Iowa) 124. Andrew v. Citizens' State Bank of Eagle Grove, 212 N. W. (Iowa) 745. Leach v. City-Commercial Sav. Bank of Mason City, 212 N". W. (Iowa) 746. Leach v. Iowa State Savings Bank of Sioux City, 212 N. W. (Iowa) 748. Leach v. Central Trust Co., 213 K W. (Iowa) 777. INSOLVENT BANK. Priority of claim. Collecting bank receiving check on itself and remitting by cashier's check. P. D. 1589. Citizens' Bank of Pinewood v. Bradley, 134 S. E. (S. C.) 510. INSOLVENT BANK. Priority of claim. Note collected from third party. P. D. 1599. Eifel v. Veigel, 211 N. W. (Minn.) 332. INSOLVENT BANK. Priority of claim by holder of cashier's check issued for proceeds of collection paid in cash before bank's failure. P. D. 1599. In re Citizens' State Bank of Gooding, 255 Pac. (Idaho) 300. INSOLVENT BANK. Priority of claim. Draft of insolvent bank for proceeds of travelers checks sold by it. P. D. 1600. Andrew v. Citizens' State Bank of Eagle Grove, 212 N. W. (Iowa) 744. INSOLVENT BANK. Priority of claim. Collection in cash and remittance by cashier's check. P. D. 1605. Hall v. Sullivan, 253 Pac. (Okla.) 45. INSOLVENT BANK. Priority of claim where proceeds of draft are not to be commingled by collecting bank. P. D. 1610. Kansas Flour Mills Co. v. New State Bank of Woodward, 256 Pac. (Okla.) 43. REPORT OF THE COMPTROLLER OF THE CrRRENCT 195 DEPOSITS. P. B. 1772-1992 Criminal liability for receipt of deposit with knowledge of insolvency. P. D. 1781. "Lenhardt v. State, 138 S. E. (Ga.) 590. Criminal liability for receiving deposits with knowledge of insolvency. Necessity of actual receipt as distinct from merely assenting to or having knowledge of such receipt. P. I). 1781. State v. Lewis, 139 S.^E. (S. C.) 386. Deposit in fiduciary capacity as special deposit. P. I). 1782. Fray v. Elliott, 255 Pac. (Wyo*.) 593. Check deposited with understanding that it was to meet smaller check. Preferred claim against insolvent bank to amount of smaller check. P. D. 1789. Corporation Commission of North Carolina v. Merchants' Bank & Trust Co., 138 S. E. (N. C.) 530. DEPOSITS IN TWO NAMES. Distinction between persons owning bank deposits together and " joint tenants."' P. D. 1809. Johnson v. Nourse, 155 N. E. (Mass.) 457. DEPOSITS IN TWXO NAMES. Title on death of one depositor. P. D. 1832. Appeal of Garland. 136 Atl. (Me.) 459. DEPOSITS IN TWO NAMES. Statutory authority of bank to pay survivor. P. D. 1832. Portland 'Nat. Bank v. Brooks, 137 Atl. (Me.) 641. DEPOSITS IN TWO NAMES. Joint ownership. P« D. 1832. Ball v. Mercantile Trust Co., 297 S. W. (Mo.) 415. Constitutionality of depositors" guaranty law. P. D. 1984. Standard Oil Co." of Indiana .v. EngeL 212 N. W. (N. D.) 822. FORGED PAPEK. P. D. 2012-2363 Payment by drawee bank of forged check. Defense that depositor did not exercise due care in examining statements and returned vouchers. Additional defense that depositor had ex-convict in charge of office. P. D. 2022. Southwest.Nat. Bank of Dallas v. Underwood, 295 & W. (Tex.) 253. Statute requiring notice within particular time of payment by bank of forged check does not apply to payment on forged indorsement, P. D. 2033. McCornack v. Central State Bank, 211 N. W. (Iowa) 542. Recovery by drawee bank which has paid forged check against bank collecting the item where latter has been negligent in not identifying the person from whom it purchased the item. P. D. 2137. First Nat. Bank of Quitman v. Wood County, 294 S. W. (Tex.) 324. • "' Liability of drawee bank to owner of a check which it has paid to another on an unauthorized indorsement. P. D. 2219. Wayne Tank & Pump Co., v. Bank of Eureka Springs, 290 S. W. (Ark.) 370. 196 REPORT OF THE COMPTROLLER OF THE CURRENCY Payment of savings deposit on forged order. Duty of care. By-laws. P. D. 2322. Berndt v. Hoboken Bank for Savings in City of Hoboken, 135 Atl. (N. J.) 818. FRAUD AND CRIMES. P. D. 2364^-2413 Liability of State bankers association on reward offered for bank burglar. P. D. 2367. Arkansas Bankers Ass'n v. Ligon, 295 S. W. (Ark.) 4. FALSE STATEMENTS FOR CREDIT. Extension of time obtained by false statement. P. D. 2368. State v. Tower, 251 Pac. (Kan.) 401. FALSE STATEMENTS FOR CREDIT. Ability to check up truthfulness of statement. P. D. 2368. Commonwealth v. Miller, 286 S. W. (Ky.) 691. HOLDER IN DUE COURSE. P. D. 2436-2486 Payee as holder in due course of negotiable instrument* P. D. 2436. Foster v. Security Bank & Trust Co., 288 S. W. (Tex.) 438. J. I. Case Threshing Mach. Co., v. Howth, 293 S. W. (Tex.) 800. INSURANCE. P. D. 2835-2871 Liability of surety company on fidelity bond for irregularities of officer of bank known to the bank officials. P. D. 2835. Parker v. Sprague, 214 N. W. (Wis.) 361. FORGERY AND ALTERATION POLICIES. What constitutes forgery. P . D . 2859. Eastern Exchange Bank v. Fidelity & Deposit Co. of Maryland, 157 X. E. (N. Y.) 260. International Union Bank v. National Surety Co., 157 N. E. (N. Y.) 269. INTEREST AND USURY. P. D. 2872-3001 Statutory provision precluding defense of usury on the part of corporations. P. D. 2988. Alston i\ American Mortgage Co., 156 N. E. (Ohio) 606. Availability of defense of usuary against holder in due course. P. D. 2992. Davenport v. Kendrick, 139 S. E. (Va.) 295. INTERIM CERTIFICATES Negotiability of interim certificates. P. D. 3002.5. Hopple v, Cleveland Discount Co., 157 N. E. (Ohio) 414. MORTGAGES AND LIENS—REAL ESTATE. P. D. 3194-3280 NOTES.—Negotiability of note providing that it shall become due at option of holder in case of default in terms of mortgage securing . note. P. D. 3204. Ashland Building and Loan Co. v. Kerman, 155 N. E. (Ohio) 245. REPORT OF THE COMPTROLLER OF THE CURRENCY 197 NOTES. P. D. 3433-3718 Negotiability of instrument for one purpose, but not for others, P. D. 3435. Bank of California, X. A. v. National City Co., 251 Pac. (Wash.) 561. Repeal by X. I. Act of statute providing for compromise with one joint or joint and several debtor without releasing others. P. D. 3446. Branton v. O. B. Crittenden & Co., I l l So. (Miss.) 150. Personal liability of officer signing corporate note. P. D. 3466. Union Machinery & Supply Co. i\ Taylor-Morrison Logging Co., 254 Pac. (Wash.) 1094. CONFESSION OF JUDGMENT. Legality of confession clause. P. D. 3511. Farmers' Bank of White Plains v. Bass, 292 S. W. (Ky.) 489. STATUTORY ILLEGALITY. Note given for patented article. P. D. 4 3580. Brenard Mfg. Co. t\ McKee's Model Pharmacy (Inc.), 287 S, W. Ark.) 187. [ J. B. Colt Co. v. Mitcham, 287 S. W. (Ark.) 1008. CHECK FOR GAMBLING DEBT. Liability of payee to bank cashing check where payment stopped before presentation to drawee bank. Liability of such payee where check deposited for credit and amount withdrawn before notice that the check had been dishonored because of stop-payment order. Payee of check given for gambling debt deposits it for collection and gives check for credit thus established; liability of payee of such " second check to the depository bank. P. D. 3580. Thompson v. First State Bank of Irvington, 288 S. W. (Ky.) 702. Validity of note for purchase price of stock given in violation of statute. P. D. 3583. Bank of Dermott v. MeaseU 287 S. W. (Ark.) 1017. Validity of note given as payment for automobile where certificate of title not delivered as required by law. P. D. 3583. Morgan v. Mulcahey, 298 S. W. (Mo.) 242. * Defense by maker that he was fraudulently deceived as to nature of instrument when instrument in hands of holder in due course, P. D. 3597. Gross v.-Ohio Savings & Trust Co. 156 X. E. (Ohio) 205. Agreement that indorser shall not be liable on note indorsed merely for purpose of inspection of bank examiner. P. D. 3615. Chelsea Exchange Bank v. La Hiff, 220 X. Y. S. 239. Execution of note to give appearance of assets in payee bank. Enforceability. P. D. 3615. Jewett & Herr, 156 N. E. (Ind.) 568. Bank as accommodated party where it in substance makes loan to one person on another's note; reason being limitation on loan to one borrower. P. D. 3615. Neylon •-<;. Liberty National Bank of Pawhuska, 259 Pac. (Okla,)*545. 198 REFOBT OF THE COMPTROLLER OF THE CURRENCY Payment of note to pavee after transfer without requiring surrender. P. D. 3700. Iowa Loan & Trust Co., v. Seaman, 210 N. W. (Iowa) 937. Shoemaker v. Minkler,211 N. W. (Iowa) 563. OVERDRAFTS. P. D. 3747-3785 Where drawee bank gives credit to depositor for item drawn on itself, such credit held irrevocable; revocation of credit where forwarding bank suffered no loss. P. D. 3767. City National Bank of Fort Smith v. Citizens' Bank of Pettigrew, 290 S. W. (Ark.) 48. PAYMENT (Important as illustration of fact that in many cases a person may lose money through a voluntary payment by mistake of law.) P. D. 3809.5. Hadley v. Farmers' Nat, Bank of Oklahoma City, 257 Pac. (Okla.) HOl. XONRECOVERY OF VOLUNTARY PAYMENT. PKESENTMENT, PROTEST AND NOTICE. P. D. 3938-4173 P. D. 3982. Robinson v. Lancaster Foundry Co., 136 Atl. (Md.) 58. PRESENTMENT BY TELEPHONE. SAFE DEPOSIT AND SAFE-KEEPING. P. D. 4187-4314 Power of bank to accept will for safe-keeping. P. D. 4187. Britton v. Elk Valley Bank of Larimore, 211 N. W. (N. D.) 810. SET-OFF. P. D. 4315-4461 Funds of third person in depositor's account without notice. P. D. 4357. Zollinger v. First Nat. Bank of Oklahoma City, 259, Pac. (Okla.) 141. INSOLVENT TRUST COMPANY. Deposit in savings department. Mutuality; commercial account, claims held by savings department. P. D. 4445. Dole v. Chattabriga. Same v. Rainey. Same v. Williams. 131 Atl. (N. EL) 347. STOPPING PAYMENT. P. D. 4462-4558 Equitable purchaser. P. D. 4463. Hiroshima v. Bank of Italy, 248 Pac. (Cal.) 947. OKAL STOP-PAYMENT ORDER. (Not directly involved but reasoning of importance.) P. D. 4490. Colorado Title & Trust Co. v. Roberts, 250 Pac. (Colo.) 641. AGREEMENT. TAXATION—STATE. P. D. 4617-4714 State taxation of national banks. Taxation of capital stock without deduction for realty together with tax on realty. P. D. 4664. People v. Breder, 223 N, Y. S. 579. BEPORT OF THE COMPTROLLER OF THE CURRENCY 199 " Rate," P. D. 4664. Central National Bank v. City of Lynn, 156 N. E. (Mass.) 42. STATE TAXATION OF NATIONAL BANKS. Discrimination. Where capital invested in Government securities. Taxation of nationalbank stock by system different from other property. P. D. 4664. Montana Nat, Bank of Billings v. Yellowstone County. 252 Pac. (Mont.) 876. STATE TAXATION OF NATIONAL BANKS. Bank stock as separate tax class. " Moneyed capital in hands of individual citizens." P. D. 4666. Comanche County v. American National Bank of Lawton, 252 Pac. (Okla.) 408. * STATE TAXATION OF NATIONAL-BANK STOCK. NEGOTIABLE INSTRUMENTS ACT. P. D. PAGES 797-828 Repeal by N. I. act of statute releasing surety or accommodation indorser on failure of creditor to commence proceedings after notice. P. D. page 814 §120. First Nat. Bank of Gulfport v. Kau, 112 So. (Miss.) 688. STATE BANKING DEPARTMENTS, P. D. PAGES 1023-1024: Criminal liability of head of state banking department for failure to take charge of insolvent bank. P. D. page 1023. Ex parte Amos, 112 So. (Fla.) 289. TABLE N O . 1.—Comptrollers and Deputy Comptrollers of the Currency, dates of appointment and resignation, and States whence appointed No4 i Name Date of i Date of appointment I resignation State COMPTROLLERS OF THE CURRENCY McCulloch, Hugh Clarke, Freeman Hulburd, Hiland R Knox, John Jay Cannon, Henry W Trenholm, William L Lacey, Edward S Hepburn, A. Barton Eckles, " James H ~ Dawes, Charles G Ridgely, William Barret Murray, Lawrence O Williams, John Skelton- - Crissinger, D.'R__ Dawes, Henry M Mclntosh, Joseph W May- .9,1863 Mar. 21,1865 I Feb. 1,1867 Apr. 25,1872 __.! May 12,1884 Apr. 20,1886 I May 1,1889 Aug. 2,1892 Apr. 26,1893 Jan. 1,1898 Oct. 1,1901 Apr. 28,1908 { Feb. 2.1914 j Mar. 17,1921 ! May 1,1923 | Dec. 20,1924 ! ___„_• Mar. 8,1865 Indiana. July 24,1866 New York. Apr. 3,1872 Ohio. Apr. 30,1884 Minnesota. Mar. 1,1886 Do. Apr. 30,1889 South Carolina. June 30.1892 Michigan. Apr. 25.1893 New York. Dec. 31,1897 Illinois. Sept. 30,1901 Do. Mar. 28,1908 Do. Apr. 27,1913 New York. Mar. 2,1921 Virginia. Apr. 30.1923 Ohio. Dec. 17.1924 Illinois. Do. DEPUTY COMPTROLLERS OF THE CURRENCY Howard, Samuel T Hulburd, Hiland R Knox, John Jay Langworthy, John S Snyder, V. P Abrahams, J. D Nixon, R. M . Tucker, Oliver P Coffin, George M Murray, Lawrence O Kane, Thomas P . . Fowler, Willis J Mclntosh, Joseph W Collins, Charles W Stearns, E. W Await, F. G Gough, E. H 1 71284°—28 . . _ Term expired, 14 „ | May 9,1863 J Aug. 1,1865 Mar. 12,1867 Aug. 8,1872 Jan. 5,1886 Jan. 27,1887 ._ Aug. 11,1890 Apr. 7,1893 Mar. 12,1896 Sept. 1,1898 June 29,1899 July 1,1908 May 21,1923 July 1,1923 Jan. 6,1925 i July 1,1927 July 6,1927 2 Aug. 1,1865 Jan. 31,1867 Apr. 24,1872 Jan. 3,1886 Jan. 3,1887 May 25,1890 Mar. 16,1893 Mar. 11,1896 Aug. 31.1898 June 27.1899 Mar. 2,19232 Feb. 14,1927 Dec. 19,1924 June 30,1927 Died Mar, 2, 1923, New York. Ohio. Minnesota. New York. Do. Virginia. Indiana. Kentucky. South Carolina. New York. District of Columbia. Indiana. Illinois. Do. Virginia. Maryland. Indiana. 200 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 2.—Names and compensation of officers and clerks in the office of the Comptroller of the Currency, October 31, 1927 Designation Name Quinn, Edmund F Bterndon, John G Yeatman, John P Avery, Antoinette M Kane, William A Gross, Clyde E Burton, Russell O Schreiner, Edmund E .____ Davenport, William S Thompson, George Fuller, J a n e L Wanamaker, William H___ Bock, Carl Frye, Ruby M Johnston,T Edna E Reese, W illiam H Marble, George R Pennock, Caroline L Ellis, HarrieB Sithens, Charles H Wilson, Gordon K Hanlon, Margaret T Poultney, William W Herndon, John W Verrill, Harry M Bulger, John C Lewis, John O Wilcox, Ephraim S O'Mara, Vera L Lovelly, Laura F Tucker, Samuel M Whelan, Majorie B Murphy, Maud V Tylor, Gertrude Allred, Nell H Bentley, Thomas B Reed, S. E . Jones, Margaret E Moyer .Alta T Basinger, Walter S Pumphrey, Carrie B Friedrichs, Minna K Hunt, Hermon Jump, Mollie C . O'Brien, May F Griffiths, Dolly S Trumbull, Annette M McBride, Olga Mae Wright, Nellie K Andrews, Ettie F_ Hilleary, Rua Smith, Helen M Deal, Jessie F_. Heizer, Helen V Heizer, Nannie B Nolan,LidaA ... Schiller, Ernestine H Young, Grace E Munnerlyn, Joseph A Mortimer, Mary IT Beall, Clara M . Buckley, Regina C Eriekson, Bertha V._ ._ Walker, Johanna S Jamieson, William G Baldwin, Wallace N B urlingame, Delia J Hpwson, Ella . Lowell, Harriet P Jorgenson, John A Haley, John R_ Murphy, Clara M Kelly, George Crocker, Henry A. D Nichols, Sada__ Wigginton, Norval P Bales, Anna S Barry, Gertrude I Brumbaugh, Delia L_ __ _ Chisholm, Elizabeth Colburn, Nellie AVernon, Josephine Hopkins, E d n a - - - Administrative officer. Senior administrative assistant., do ___. _do_ .do. Administrative assistant Junior administrative assistant., do do Principal clerk. do _do_ .do.do.doJunior administrative assistant.. Senior clerk doPrincipal clerk _ do Senior clerk .doSenior clerk-stenographer _ .do Clerk do_ .doClerk-stenographer _. Head operator, office devices. Senior clerk-stenographer doSenior clerk Senior clerk-stenographer_ Clerk. _do_do_ .doClerk-stenographer. Clerk-stenographer, .doAssistant clerk, dodoSenior operator, office devices. Clerk-stenographer ., do ClerkClerk-stenographer Clerk. ._._ do Assistant clerk.. _ do .do., .do., .do.. _do_. .do., .do.. Assistant clerk-stenographer. _ Head typist Senior operator, office devices, .do ! do I do Junior clerk. ! do .do., -do., -do.. .do., .do., -do.. Assistant clerk _ do Senior stenographer. Assistant clerk do _ .do.. .do., .do.. .do.. Salary $4,400 3,400 3,400 3,000 3,000 3,000 3,000 3,000 2,700 2,500 2,500 2,400 2,400 2,400 2,400 2,400 2,400 2,300 2,300 2,200 2,200 2,100 2,100 2,100 2,100 2,040 2,040 2,040 2,040 2,040 2,000 2,000 1,920 1,920 1,860 1,860 1,860 1,860 1,860 1,860 1,860 1,860 1,860 1,860 1,860 1,800 1,740 1,740 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,680 1,620 1,620 1,620 1,560 1,560 1, 560 1,560 1, 560 1,560 1,560 REPORT OF THE COMPTROLLER OF THE CURRENCY 201 TABLE N O . 2.—Names and compensation of officers and clerks in the office of the Comptroller of the Currency, October 31, 1927—Continued Designation Name McCrone, Clara O'B McKinney, Elva L___ Quackenbush, Dorothy S_ Magruder, Edith P___ Dailey, William Weeks, Katherine Minogue, B . Pearl Darby, Dorothy C Dodge, Victor H Horsey, Olga S __ Israel, F r a n k T Davidson, Julia Tschiffely, Lacey B. R Elmore, Annie L Moncure, Frances W Mueller, Pauline Taylor, Mathilda S Chiles, Charles R Haygood, Ethel Sazama, Alice R_._ _ Taylor, Walter M D yson, Aline Mallet, Katherine H Wilson, Mildred C Parsons, Edith N Easterday, William A Haymon, N . Mabel O'Donnell, Josephine.. Keim, Charles C.._ _ Kellam, Margaret M— Harleston, Catherine Harris, John E Koontz, Clara E Smith, Charles A Watts, Metta F Frock, Anna C Marks, Grace Cook, George M Dillard, John Chamberlain, Robert J— Kemether, Eva C. Canavan, Josephine Dillon, Minnie L . Hueter, Marion R Brown, Edith L White, Grace Curtin, Anna E Wolfe, Alice M _ Ridgeway, Rose C_._ _._ Kennett, Edna Burke, Madeline V Dowden, Eleanor C DuRant, Anna K Dutrow, Mary _ Duvall, Grace N Mennel, Theresa Pennock, Emily E Reese, Aline Roberts, Victoria Sheward, Adelaide Miller, Bellum Settle, May C. W Simms, Harry E Braxton, Henry Mann, Harry Blount, Silas Whiteman, Edgar Haley, Mary C Hall, James _" Taylor, John___ _ Carroll, John I Mims, Alvin E__ Holland, Thomas Blount, Joseph Mundie, James F Hill, Edgar. _ Barrett, Lester J Moss, Benjamin F__ ._ Thompson, Frank. _ Poles, James Powell, Queen. _ Taylor, Mary F .., . __ __ ___ .__ _. Assistant clerk. ..do.. -do., .do.. do Senior stenographer, do.. Assistant clerk-stenographer.. do Assistant clerk ..—do do Junior clerk. — -do do Under clerk Assistant clerk-stenographer., do ..do.. Senior stenographer Junior operator, office devices. do.. Senior typist Junior mechanic. Junior clerk do ..do.. ..do.. ..do. _do_. ..do.. ..do.. do do Under clerk. -do.. ..do.. Junior operator, office devices. ..do. Junior clerk _ do Junior operator, office devices. Junior clerk.. .-doUnder clerk Junior clerk Junior clerk-typist. Under clerk .do. -do. ..do. -do. -do. _do. .do. _do. _do_do. _do. -do. .do Messenger.. Under clerk.. Messenger.. do. Underclerk... Messenger. _. .do .do. -do. _do.do_ .do. .do. do Minor mechanic_ Junior laborer Minor domestic attendant. do— Salary $1,560 1, 560 1, 560 1, 560 1, 560 1, 560 1,560 1, 560 1,560 1,560 1,500 1, 500 1, 500 1,500 1.500 1, 500 1, 500 1. 500 1,500 1,500 1,500 1, 500 1, 500 1,500 1,500 1,500 1,440 1,440 1,440 1,440 1, 440 1,440 1,440 1,440 1,440 1,440 1,440 1, 440 1,440 1,440 1,440 1,330 1,380 1,380 1, 380 1,380 1,380 1,380 1, 320 1,320 1,320 1, 320 1,320 1,320 1,320 1,320 1, 320 1, 320 1, 320 1,320 1,260 1,260 1,260 1,260 1,200 1,200 1,200 1,140 1,140 1,140 1,140 1,140 1.140 1,140 1,080 1,080 1,020 1,020 1,020 1,020 477 47T 202 BEPOBT OF THE COMPTROLLER OF THE CTJEKUNCY TABLE N O . 3.—Number of national banks organized since February 25, 1863, number passed o<ut of the systein, and number in operation October 81, 1927 Under Under Under Under act of Feb. 25, 1863 act of June 3, 1864 gold currency act of July 12, 1870-. act of Mar. 14, 1900 456 8,056 10 . . . 4,614 Total number of national banks organized Number reported in voluntary liquidation Number passed into liquidation upon expiration of corporate existence Number consolidated under act of Nov. 7, 1918 Number placed in charge of receivers L Total number passed out of the system . ; ____ __ ... Number now in operation 13,136 3*800 _. 208 191 _ 1,105 5, 304 ________ 7,832 TABLE N O . 4.—Authorized capital stock of national banks on the first day of each month from January 1, 1920, to November 1, 1927, United States bonds on deposit to secure circulation, circulation secured by bonds on deposit, the amount of lawful money on deposit to redeem circulation, and national-bank notes outstanding, including notes of national gold banks [For prior years see annual report 1920] Date 1920 January. _-. February March April May __:.. June .__ July....: . August ..__.. September October November December January February March April May. .. June. . July. August.. September October November December. 1921 __ . 1922 January ._ February ... March April....._..,.. May..........4.. June...-.-.....July...... August. _ - _ _ _ j . . September... J._ October ^.. November.-_j_. December. . - J _ - Number of banks United Circulation Lawful money OH bonds secured Authorized States deposit to on deposit by United capital stock to secure States redeem circulation circulation bonds 7, 948 $1,161,439,165 $699, 357, 550 7, 955 1,177, 719,165 699, 936, 250 7,978 1,184,809,165 701,469, 450 8,009 1,195,309,165 702,846, 200 8,031 1,217, 074,265 704,884, 000 8,072 1,223,278,265 706,307, 750 8,093 :, 229, 429, 765 707, 963, 400 ,242.084,765 709,436, 400 8,111 711,000, 900 r 252, 519,765 s £,144 :, 255, 929,765 711,839, 000 8,157 :, 273, 949,765 712,066,500 8,166 :, 274, 859, 765 714, 888, 640 689, 748, 578 691, 498,920 692, 104,195 686, 225,000 689,327,635 698,099,990 698, 592,128 699,461,435 704,732,185 706, 600,480 $3£, 649,434 $724,338,692 33,241, 792 733,108,190 32,892,677 722,641,255 32, 439, 832 723,938,752 31, 288, 577 723,392, 772 31, 039,887 717,264,887 29,710,095 719,037,730: 28,363,714 726,463,71)4 27,403,924 725,996,052 27, 015,647 726,477,082 27,817,444 732,549,629 27,410, 317 734,010,7W 8,173 8,179 8,185 8,181 8,184 8,179 8,178 8,181 8,187 8,187 8,179 8,188 , 272.464, 765 ., 272, 670,565 , 276, 780,565 ,271,285,565 , 277, 675,565 , 274,445,565 , 276, 720, 565 , 281, 770,565 , 283, 035, 565 , 285,120, 565 , 281, 995, 565 1,283, 755, 565 715,325,440 714,973,190 716,966,190 719,049,440 720,012, 440 722, 491, 590 722,898,440 723, 675,190 724,770,490 727,002, 490 727, 512,490 728,551, 240 695, 900, 770 689, 592,883 697, 728, 580 702, 948,007 691, 643,480 709, 657,145 712,763,865 702, 570,407 711, 000, 205 715, 836, 355 716,304, 820 723,023, 965 27, 376, 452 30,061,044 30, 065, 284 29, 870,477 32,172, 872 30,936,214 30,526, 509 29,848, 772 28,148,669 27, 402, 759 26, 984,027 26,283,132 723,277,222 719, 653,927 727,793,864 732,818,484 723,816,352 740, 593,359 743,290,374 732,419,179 739,148,874 743,239,114 743,288,84? 749,307,097 8,207 8,213 8,217 8,231 8,250 8,263 8,274 8,265 8, 265 8,262 8,262 8,264 1, 286, 265, 565 1,288, 220, 565 1,296, 345, 565 1,298,961,565 1, 303, 031, 565 1, 305, 931, 565 1,315,476,565 1,317,271,415 1,316, 017, 915 1,314,938,715 1,316,968,715 1,317,668,715 728, 523, 240 729,425,740 729,702,240 730,016, 940 731,693,690 733,876, 590 734,546,300 735,160, 690 735,460, 690 737; 501, 940 737, 660, 690 739,018,690 724, 235, 815 724,480,758 727, 465, 523 727,838, 900 729, 526,135 730,203,870 732, 585,640 732,467,585 733, 623, 525 734,465,283 734, 520,475 736,065,365 25,932,109 25,130,609 24,569,959 24,840, 522 25,096,414 25,696,832 25,616,387 25,603,977 26,082,024 26,285, 914 26,158,712 25,433, 762 750,167,924 749,611,367 752,035,482 752,679,422 754,622,549 755,900,702 758,202,027 758,071,562 750,705,54ft 750,751,191 760,679,187 761,499,. 127 * Exclusive of those restored to solvency. $691, 689,258 Total nationalbank notes outstanding REPORT OF THE COMPTROLLER OF THE CURRENCY 203 TABLE N O . 4.—Authorized capital stock of national banks on the first: day of each month from January 1, 1920, to November 1, 1927, etc.—Continued. Date 1923 January... February... March April May June July August September.. October . November.. December.. 1924 Number of banks Authorized capital stock 8,261 i$l, 328, 558,715 8,258 1,321,718,715 8,260 1,325, 058,715 8,259 1,327, 216,215 8,268 1,330, 171,215 8,275 1,333, 526,215 8,276 1,338, 571,215 8,273 1,341,286,215 8,273 1,342, 911,215 8,275 1,342,071,215 8,264 1, 342, 728, 715 8,247 1,342,473, 715 United I Circulation State bonds secured on deposit b y United to secure States circulation bonds Lawful money on deposit to redeem circulation Total nationalbank notes outstanding $738,257,440 $735, 281, 275 $26, 846, 812 $762,128,087 739,329, 840 734, 541,173 29, 209, 789 763, 750, 962 741, 077, 590 738, 423, 517 28, 620,187 767, 043, 704 742, 879, 540 739, 984, 523 27,197, 981 767,182, 504 742,823, 590 740, 099, 541 27, 868, 731 767, 968, 272 744,034,190 742,178, 351 27,829,641 770, 007, 992 744,654, 990 719,103, 625 28,336, 094 747,439, 719 744, 848, 940 740, 986, 663 28. 823, 714 769, 810,377 745, 585, 080 740, 323, 568 28, 621, 244 768, 944, 812 770,322,007 746,780,830 742,184, 915 28,137,092 746,562,330 743, 806,385 28, 799, 884 772, 606,289 746,778,030 743, 984, 275 29, 450, 769 773,435,044 8,234 8,219 8,188 8,164 8,153 8,137 8,125 8,117 8,109 8,108 8,098 8,092 1,338, 513, 715 1,336,133, 715 1,339,378, 715 1.341, 776,215 1.342, 071,215 1.340, 916,215 1,340,141, 215 1,342,096,215 1.341, 636,215 1.342, 606,215 1,335,766,215 1,334,891,215 746, 577, 780 747,256,230 748,875,180 749, 974,180 750,676, 680 750,113, 430 750,858, 930 746,611, 640 742,462,390 741, 239, 890 739,842, 890 737,635, 790 740,521, 752 31,045,227 742,670,537 30,126,232 743,454,758 30,964,444 745,171,676 31,162,366 745, 795,653 31,611,339 745,029, 518 32,460,609 744, 953, 710 33,058, 069 740, 549, 740 36,537, 849 737,141,058 40,052,136 736,557,660 39,269,184 735,602,435 38, 679,189 733,995,581 40,152,976 771,566,979 772,796,769 774,419,202 776,334,042 777,406,992 777,490,127 778,011,779 777,087,589 777,193,194 775,826,844 774,281,624 774,148,557 1925 January... February... March April May June July August SeptemberOctober. '_.. NovemberDecember. . 8,090 8,078 8,068 8,066 8,084 8,103 8,112 8,117 8,115 8,120 8,118 8,114 1,339, 093,715 1,342, 563,715 1,356, 043,715 1,359, 768,715 1,369, 553, 715 1,372, 738, 715 1.376, 973, 715 1.377, 358, 715 1.379, 623, 715 1,381, 983,215 1,381, 978,215 1.380, 743,215 731,613,630 725,171,780 666,943,330 665,608,330 666,010,330 665,502,880 665,061,330 665,227,130 665,810,130 665,542,630 666,185.130 666,087,630 727,175, 641 44,871,176 722,092,263 47,748,139 663,324,911 100,532,366 661,613,281 93, 597,406 661,397, 558 86,028,261 661,293,895 78,275,574 660, 501,393 72,864,681 660,341,413 66,214,271 662,186,083 61,476,914 661,380,320 56,543,569 662,538,483 51,264,261 662,622,888 48,127,556 772,046,817 769,840,402 763,857,277 755,210, 687 747,425,819 739,569,469 733,366,074 726, 555,684 723,662,997 717,923,889 713,802,744 710,750,444 1926 January-.. February. _. March April May June.July-. August SeptemberOctober NovemberDecember. . 8,092 8,077 8,070 8,059 8,054 8,043 8,038 8,031 8,025 8,018 8,008 7,985 1,385,648,215 1,392,178,205 1,397,304,455 1,400,003,655 1,418,643,655 1,420,271,155 1,420,087,405 1,422,654,905 1,422,749,905 1,421,369,905 1,422,132,405 1, 413,850,405 666, 273,130 665, 363, 590 665, 235,640 665,568,140 665,686,140 665,465,140 665,616,390 665,941,890 665,889,940 665,830,440 665,492,880 666,278,180 658,362, 223 661, 298,333 661,244, 347 661,016, 470 661,664,478 660, 677,175 660,986,560 661,434,195 659,760,467 660,555,797 661,742,830 662,764,613 46,194,204 45,050, 979 45,059,372 44,211,319 42,519,201 42,697,987 41,682, 684 40,714, 779 39,768, 777 39,178,467 38,971,702 37,927,974 704,556,427 706,349,312 706,303, 719 705,227, 789 704,183,679 703,375,162 702,669,244 702,148,974 699,529,244 699,734,264 700,714,532 700,692, 587 7,972 7,950 7,927 7,894 7,863 7,845 7,844 7,842 7,831 7,833 7,832 1,417,160,405 1,421,452,905 1,445,067,905 1,474,432, 905 1,470,085,905 1,474,055,905 1,481, 279,615 1,485, 989,615 1,486,712,615 1,500, 437,615 1,502, 697, 615 666,211,440 664, 503, 940 666,138, 640 665,641, 990 665, 724, 930 667,095,680 666,991,130 667,156, 290 667,143, 790 666,985, 790 666,873, 290 661,046,465 657,364,790 660,366,240 661,673, 603 662, 238,833 663,156, 720 661,288, 545 661,550, 768 663, 747,178 662, 742, 593 663,167, 030 36,721,464 37,856,759 36,825,184 38,251,364 39,074,404 42, 777,217 42,857,722 42,967,269 41,052,614 40,537,019 39,825,664 697,767,929 695,221,549 697,191,424 699,924,967 701,313,237 705,933,937 704,146,267 704,518,037 704,799,792 703,279,612 702.992,694 January. _. February... March April May.-. June.. July... August September.. October November.. December.. January... February... March April May June July August September.. October November.. 1927 NOTE,—Notes redeemed but not assorted not included in circulation outstanding. 204 REPORT OF THE COMPRTOLLER OF THE CURRENCY TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to October 31, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital Name and location of bank Date of liquidation First National Bank of Browns Valley, Minn. (7341), succeeded by "Cnion State 1926 Bank of Browns Valley-.. Oct. 14 National Stock Yards National Bank, National City, post office, National Stock Yards, HI. (9118), succeeded by The National Stock Yards National Bank of National City _ _ Oct.. .26 American Exchange-Pacific National Bank, New York (1394), succeeded by American Exchange-Pacific Bank (which merged with Irving Bank & Trust Co, and formed American Exchange-Irving Trust Co Noy. 8 First National Bank in Warren, 111. (9096), absorbed by State Bank of Warren Nov. 5 First National Bank of Ashton, Iowa (11644) succeeded by The First National Bankin Ashton ... _ _„ Nov. 15 First National Bank of Boyntcn, Fla. (12841) 1 Nov. 19 National Bank of Wahpeton, N. Dak. (4106) succeeded by The National Bank in | Wahpeton ; Nov. 18 First National Bank of Albany, N. Y. (267) succeeded by First Bank of Albany (which converted into First Trust Co. of Albany) _. _. Nov. 29 Lyon County National Bank of Marshall, Minn. (4595) succeeded by Marshall State Bank, Marshall ._. D e c 1 Collinsville National Bank, CollinsviUe, Okla. (10280) absorbed by The First Nov. 10 National Bank of Collinsville Blackwell National Bank, Blackwell, Okla. (12038), succeeded by Blackwell ExDec. 2 change Bank, Blackwell Dec. 20 First National Bank of Norton, Tex. (12415) . First National Bank of Wessington, 8. Dak. (8325), succeeded by The Citizens ...do—-National Bank of Wessington First National Bank of Dillwyn, Va. (11480), absorbed by Merchants & Planters D e c 23 National Bank of Dillwyn West Hollywood National Bank of Crescent Heights, Calif. (11880), post office, Los Angeles, Calif., absorbed by Pacific Southwest Trust & Savings Bank of Los Dec. 18 Angeles, Calif Merchants National Bank of St. Cloud, Minn. (4797), absorbed by The American National Bank of St. Cloud .-. Dec. 28 West Branch National Bank of Williamspoit, Pa. (1505), succeeded by Lycoming Dec 31 Trust Co. Lycoming National Bank of Williamsport, Pa. (2227), succeeded by 'Lycoming —do.—. Trust Co., Williamsport.. " First National Bank of Stayton, Oreg. (11917), absorbed by First State & Savings, Bank of Stayton... __. _..,__. ...do Security National Bank of Newkirk, Okla. (12206), absorbed by The Eastman National Bank of Newkirk -,_• _,do First National Bank of Wynona, Okla. (11396),- absorbed by The Wynona National Bank, Wynona Dec. 16 Home National Bank of Caldwell, Kans. (11145), absorbed by Caldwell State Bank, Caldwell . Oct. 18 Shenandoah National Bank, Shenandoah, Iowa (2679), succeeded by Shenan1927 Jan. 21 cloah National Bank, Shenandoah Tremont National Bank, Tremont, 111. (9325), absorbed by The First National Bank of Tremont . ..do.. T Jan. 18 First National Bank of Hartsville, S. C. (10137), absorbed by Bank of Hartsville--! "| Citizens National Bank in Kaufman, Tex. (12763), absorbed by The First Na- j 1926 tional Bank of Kaufman ; Dec. 20 Clark National Bank of Newton, Iowa (10726), absorbed by Jasper County Sav- j ings Bank of Newton . ,__j Oct. 20 City National Bank of Linton, N. Dak. (11665), absorbed by Peoples State Bank j of Linton Oct. 30 Citizens National Bank & Trust Co. of Cincinnati, Ohio (2495), absorbed by The Fourth and Central Trust Co. of Cincinnati (which changed its title to 1927 The Central Trust Co.).. Jan. 31 Paoli National Bank, Paoli, Pa. (12358), succeeded by Paoli Bank & Trust Co., ...do. Paoli.. Moorestown National Bank, Moorestown, N. J. (3387), absorbed by Burlington County Trust Co. of Moorestown .... . . Feb. 1 r Farmers National Bank of Tyrone, Okla. (12163), absorbed by The Farmers & Merchants National Bank of Hooker, Okla ... First National Bank of Wetonka, S. Dak. (11441), absorbed by The First National Bank of Aberdeen, S. Dak -.. Jan. 18 First National Bank of Athens, Ala. (6146), absorbed by The Farmers & MerJan. 11 chants Bank of Athens City National Bank of Lincoln, Nebr. (5213), succeeded by City National Bank Jan. 27 in Lincoln. First National Bank of Brookneal, Va. (10835), absorbed by Peoples National Jan. 11 Bank of Brookneal County National Bank of Lincolnton, N. C. (8184), absorbed by Commercial Feb. 8 Bank & Trust Co. of Gastonia, N . C - Capital $25,000 500,000 7,500,000 50,000 25,000 50,000 .50,000 600,000 50,000 25,000 100,000 25,000 25,000 50,000 25,000 100,000 500,000 200,000 25,000 30,000 25,000 25,000 100,000 40,000 25,000 100,000 50,000 25,000 2,000,000 50,000 50,000 25,000 25,000 50,000 500,000 50,000 100,000 REPORT OF THE COMPTROLLER OP THE CURRENCY 205 TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to October 31, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued Name and location of bank Date of liquidation Capital Peoples National Bank of Farmington, N . Mex. (12514), absorbed by The First National Bank of Farmington.__ _ __ _ 1926 Dec. 20 $25,000 Exchange National Bank of Hastings, Nebr. (3086), absorbed by The First National Bank of Hastings Citizens National Bank of Whitney, Tex. (7915), absorbed by The First National Bank of Whitney. ___ _ „_ Fifth-Third National Bank of Cincinnati, Ohio (20), absorbed by The Union Trust Co. of Cincinnati ___ 1927 Feb. 10 100,000 Feb. 11 50,000 Feb. 23 3, 000,000 Peoples National Bank of Henryetta, Okla. (12629), absorbed by American Exchange Bank of Henryetta _ 1926 Nov. 10 100,000 Durant National Bank, Durant, Okla. (5590), succeeded by The Durant National Bank in Durant. First National Bank of Hanska, Minn. (11288), absorbed by State Bank of Hanska. Farmers National Bank of Goodland, Kans. (7882), absorbed by The First National Bank of Goodland.._ . _ Merchants National Bank of Dickinson, N. Dak. (8201), absorbed by The First National Bank of Dickinson... -_.. 1927 Feb. 8 Feb. 21 100,000 25,000 Feb. 12 50,000 Mar. 1 50,000 Central National Bank in Dallas, Tex, (12650), absorbed by North Texas National Bank in Dallas.. 1926 Nov. 30 500,000 1927 Inter State National Bank of Hegewisch, 111. (8605), post office, Chicago, absorbed Feb. 11 by Hegewisch State Bank, Hegewisch 25,000 East Bay National Bank of Oakland, Calif. (12937), absorbed by Liberty Bank of Feb. 21 1, 000,000 America, San Francisco, Calif.1 First National Bank of Walterboro, S. C. (9849), absorbed by Colleton Banking Mar. 5 75,000 Co., Walterboro First National Bank of Belt, Mont. (11673), absorbed by Farmers & Miners State Jan. 11 30,000 Bank of Belt Farmers National Bank of Alexandria, Minn. (5859), absorbed by The Farmers Mar. 1 100,000 National Bank in Alexandria _ Waxahachie National Bank, Waxahaehie, Tex. (4379), absorbed by The Citizens Mar. 7 200,000 National Bank of Waxahachie..^ ,— First National Bank of Manteca, Calif. (11720), absorbed by Liberty Bank of 1 Feb. 24 100,000 America, San Francisco, Calif. First National Bank of Newsome, Tex. (10661), absorbed by First State Bank of Feb. 12 25,000 Pittsburg, Tex First National Bank 2in Monrovia, Calif. (7705), absorbed by Bank of America, Mar. 7 50,000 Los Angeles, Calif. .. — First National Bank of Arcadia, Calif. (11250), absorbed by Bank of America, Los 2 Mar. 8 25,000 Angeles, Calif. . United States National Bank 2 of Sawtelle, Calif. (12226), absorbed by Bank of 50,000 America, Los Angeles, Calif. First National Bank of Roseville, Calif. (11961), absorbed by Liberty Bank, San 1 50,000 Mar. 10 Francisco, Calif. Merchants & Manufacturers National Bank of Newark, N. J. (1818), succeeded 1,350,000 Mar. 19 by Merchants Trust Co. of Newark Ontario National Bank, Ontario, Calif. (9935), absorbed by Liberty Bank of Mar. 8 150, 000 America, * _• of „J» San n » Francisco, T^ -.j~. Calif. n«i:r 1 25,000 First National Bank of Slayton, Minn. (5256), absorbed by State Bank of Slayton. Mar. 2 35,000 First National Bank of Pocahontas, Va. (7847), absorbed by Bank of Pocahontas.. Mar. 10 First National Bank of Loving, g, N . Mex. (11711), absorbed by The Carlsbad 25,000 Feb. 24 N i l B k C l b d N M National Bank, Carlsbad, N. Mex First National Bank of Winters, Calif. (10133), absorbed by Liberty Bank, San 11 75,000 Mar. 15 Francisco, Calif. F C l i f .'.' First National Bank of Sansalito, Calif. (12453), absorbed by Liberty Bank, San 50,000 Francisco, Calif.i ...do._. First National Bank of Cherryville, N. C. (9548), succeeded by The Cherryville 100,000 National Bank, Cherrvville Mar. 21 Citizens National Bank* of Sallisaw, Okla. (10474), absorbed by The American 30,000 National Bank of Sallisaw Feb. 1 Livestock National Bank of Hettinger, N. Dak. (11677) absorbed by Adams County 25,000 Mar. 14 State Bank of Hettinger--? Farmers and Merchants National Bank of Redondo, 3Redondo Beach. Calif. (7895) 50,000 Mar. 11 absorbed by Bank of America, Los Angeles, Calif. Citizens National Bank of South1 San Francisco, Calif. (12364), absorbed by Liberty 50,000 Bank of San Francisco, Calif. Mar. 14 Planters and Merchants National Bank of Commerce, Tex. (6224), absorbed by j 50,000 The First National Bank of Commerce I Mar. 15 1 Consolidated with Bank of Italy and became a branch of Bank of Italy National Trust; & Saving Association, San Francisco, Calif. 3 Consolidated with Liberty Bank of America of San Francisco which was consolidated with Bank of Italy and became a branch of Bank of Italy National Trust & Saving Association, San Francisco, Calif. rtA 206 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 5.—National banks reported in liquidation from November 1, 1926', to October SI, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued Name and location of bank Date of liquidation 1927 Apr. 1 First National Bank of Winnebago, Nebr. (9671) Commercial National Trust & Savings Bank of Los Angeles, Calif. (6864), absorbed by Bank of America, Los Angeles 2 Mar. 15 Commercial National Bank of Berkeley, Calif. (13010), absorbed by Liberty Bank of San Francisco, Calif.1 __ Mar. 22 New First National Bank in 1 Santa Paula, Calif. (12856), absorbed by Liberty Bank, San Francisco, Calif. .. .. _ _ __do First National Bank of Okarche, Okla (11894), absorbed by The First Bank of Okarche _.. Jan. 18 Breckenridge National Bank, Breckenridge, Minn. (6335), absorbed by Farmers & Merchants State Bank of Breckenridge Feb. 10 First National Bank of Bainville, Mont. (10985), absorbed by Farmers State Bank of Bainville __.. Feb. 28 Dinuba National Bank, Dinuba, Calif. (12929), absorbed by Pacific South West Mar. 19 Trust & Savings Bank of Los Angeles, Calif Griswold National Bank of Detroit, Mich. (12847), absorbed by First State Bank Mar. 21 of Detroit Hope National Bank, Hope, N. Dak. (8395), succeeded by The Security National Apr. 1 Bank of Hope Idaho Falls National Bank, Idaho Falls, Idaho (11278), absorbed by Anderson Mar. 26 Brothers Bank, Idaho Falls _ First National Bank of Locust Grove, Okla. (12103), absorbed by First State Bank Jan. 24 in Locust Grove.. _ Commercial National Bank of Santa Maria, Calif. (121*13), absorbed by Liberty Mar. 29 Bank, San Francisco, Calif.1 National Bank of Commerce 2in Pasadena, Calif. (12735), absorbed by Bank of Apr. 5 America, Los Angeles, Calif. Farmers & Merchants National Bank of Mountain View, Calif. (11532), absorbed Mar. 31 by Liberty Bank of San Francisco, Calif, i Fruit Growers National Bank of Waisonville, Calif. (11560), absorbed by Liberty Mar. 15 Bank of San Francisco, Calif.1 _' _ First National Bank of Chatham, N . J. (11943), succeeded by Chatham Trust Co., Apr. 14 Chatham _ _ First National Bank of Ocean Park, Calif. (7690), absorbed by California Bank, Mar. l Los Angeles, Calif-.. __ First National Bank of Washington, Pa. (586), absorbed by Real Estate Trust Co. Apr. 16 of Washington City National Bank of Kearney, Nebr. (3958), succeeded by City National Bank in Kearney _ ... Mar. 30 Farmers and Merchants National Bank of Farmersville, Tex. (6011), succeeded by The Farmersville National Bank of Farmersville. ! Apr. 12 Central National Bank of Kearney, Nebr. (6600), succeeded by City National ' Bank in Kearney... _* __. Mar. 30 First National Bank of1 Santa Cruz, Calif. (8403), absorbed by Liberty Bank of San Francisco, Calif. Apr. 12 Osage National Bank, Osage, Iowa (1618), absorbed by Osage Farmers National Bank, Osage _ _ Apr. 18 National Bank of1 Martinez, Calif. (12511), absorbed by Liberty Bank of San Francisco, Calif. _ Apr. 12 Encinal National Bank1 of Alameda, Calif. (12893), absorbed by Liberty Bank of San Francisco, Calif. Apr. 5 First National Bank of Madiil, Okla. (5404), succeeded by The First National 1926 Bank in Madiil . Dec. 31 Marshall County National Bank of Madiil, Okla. (11192), succeeded by The First National Bank in Madiil 1 .do- Capital $25,000 2,000.000 250,000 200,000 25,000 25,000 25,000 100,000 2,000,000 50,000 100,000 25,000 100,000 200,000 100,000 100,000 25,000 50,000 400,000 100,000 75,000 50,000 100,000 50,000 50,000 100,000 50,000 60,000 Citizens National Bank of Casper, Wyo. (11683), absorbed by Wyoming Trust Co. 1927 Apr. 19 of Casper 100,000 Beverly National Bank of Beverly Hills, Calif. (12647), absorbed by Liberty Bank ..do 100,000 of America of San Francisco, Calif.1 First National Bank of Pineville, La. (12527), succeeded by Security Banking Co. 50,000 Mar. 15 of Pineville. 300,000 Second National Bank of Reading, Pa. (2552), absorbed by Reading Trust Co Apr. 30 First NationalBank of Blossom, Tex. (5733), succeeded by The Blossom National Bank _ 60,000 Apr. 20 City National Bank of Lafayette, Ind. (5940), succeeded by City Trust Co., 100,000 Apr. 30 Lafayette _ National Bank of Humboldt, Nebr. (7065), succeeded by Nebraska State Bank 30,000 Apr. 28 of Humboldt First National Bank of Cooper, Tex. (4500), succeeded by The First National 75,000 ..do..... Bank in Cooper.. _ _ _ 1 Consolidated with Bank of Italy and became a branch of Bank of Italy National Tr. & Sav. Association, San Francisco, Calif. 2 Consolidated with Liberty Bank of America of San Francisco, which was consolidated with B a n t of Italy and became a branch of Bank of Italy National Tr. & Sav. Association, San Francisco, Calif. REPORT OF THE COMPTROLLER OF THE CURRENCY 207 TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to October 81, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued Name and location of bank Date of liquidation Capital Colonial National Bank of Connellsville, Pa. (7445), absorbed by Title & Trust 1927 $100,000 Co. of Western Pennsylvania. Connellsville _ Apr. 30 First National Bank of Dolores, Colo. (10770), absorbed by J. J. Harris & Co.. 25,000 bankers, Dolores.... May Security National Bank of Sentinel. Okla. (12298), absorbed by First National 25,000 Bank of Sentinel--. Apr. First National Bank of Hanna, Wyo. (11666), succeeded by Hanna State & Savings 40,000 Bank, Hanna__ May First National Bank of Tipton, Ind. (6251), absorbed by The Citizens National 100,000 Bank of Tipton May Northwestern National Bank of Portland, Oreg. (10300), absorbed by The First 2,000,000 National Bank of Portland and The United States National Bank of P o r t l a n d - May First National Bank of Pescadero,1 Calif. (11520), absorbed by Liberty Bank of 25,000 America of San Francisco, Calif. _ _ Apr. 23 Quassaick National Bank of Newburgh, N. Y. (1213), absorbed by The Highland 300,000 National Bank & Trust Co. of Newburgh May 9 First National Bank of Stronghurst, 111. (5813), absorbed by State Bank of Strong75,000 hurst. _ _ _ _ _ May 10 First National Bank of Pittsburg, Calif. (11359), absorbed by Liberty Bank of 75,000 San Francisco, Calif.1 May 4 Hurricane National Bank of Hurricane, W. Va. (11670), absorbed by Putnam 50,000 County Bank of Hurricane _ May 14 Broadway National Bank of Newburgh, N . Y. (12785), absorbed by The Highland 100,000 National Bank & Trust Co. of Newburgh May 9 Farmers National Bank of Sheridan, Ind. (6070), absorbed by The Sheridan 60,000 ...do National Bank, Sheridan _ ._ State National Bank of Honey Grove, Tex. (10617), succeeded by The American 125,000 May 7 National Bank of Honey Grove Hugo National Bank, Hugo, Colo. (10786), absorbed by The First National Bank 35,000 May 17 of Hugo __ _ 25,000 First National Bank of Pixley, Calif. (11371)__. First National Bank of Crawford, Nebr. (6900), succeeded by Crawford State May 27 50,000 Bank, Crawford Union National Bank2 of San Diego, Calif. (10435), absorbed by Bank of America, Mar. 26 300,000 Los Angeles, Calif. _ _ ., San Leandro National Bank, 1 San Leandro, Calif. (12802), absorbed by Liberty Mar. 17 100,000 Bank, San Francisco, Calif. . _. First National Bank of Sheridan, Ind. (5296), succeeded by The Sheridan National May 12 75,000 Bank National Bank of Jersey Shore, Pa. (6155), absorbed by Jersey Shore Trust Co., May 16 125,000 Jersey Shore St. Matthews National Bank, St. Matthews, S. C. (10651), succeeded by The June 1 160.000 South Carolina Savings Bank, St. Matthews May 18 25,000 First National Bank of Wyndmere,N. Dak. (7166), absorbed by Bank of Wyndmere June 10 Chickasaw National Bank of Purcell, Okla. (4756), absorbed by The McClain 100,000 County National Bank of Purcell June 21 American National Bank of Newark, N . J. (9605), absorbed by Fidelity Union 500,000 Trust Co. of Newark June 29 Citizens National Bank & Trust Co. of Newark, N. J. (12576), absorbed by Fidelity 200,000 Union Trust Co. of Newark June 29 First National Bank of Bremen, Ohio (9768), absorbed by Bremen Bank Co July 1 25, 000 Franklin National Bank in New York, N. Y. (12370), absorbed by Interstate Trust Co. of New York do. 800,000 First National Bank of Hershey, Nebr. (10970), absorbed by The First National Bank of North Platte, Nebr June 24 25,000 Citizens National Bank of Boston, Mass. (11339), absorbed by the National Shawmut Bank of Boston May 20 750s000 First National Bank of Lawrenceville, Va. (9433), absorbed by The Brunswick Co. State Bank of Lawrenceville,_. July 5 40,000 First National Bank of Emmetsburg, Iowa (3337), succeeded by The National Bank of Emmetsburg June 10 80,000 Wamesit National Bank of Lowell, Mass. (781), absorbed by The Union National Bank of Lowell July 12 250,000 Farmers National Bank of Butler, Pa. (5391), absorbed by The Butler Co. National Bank of Butler July 15 250,000 First National Bank of Carlisle, Ind. (8805), absorbed by Peoples State Bank of Carlisle July 11 35,000 First National Bank of Calexico, Calif. (9686), succeeded by The First Central National Bank of Calexico June 3 300,000 First National Bank of Madelia, Minn. (7100), absorbed by State Bank of Madelia.; July 15 25,000 First National Bank of Langdon, N . Dak. (4802), succeeded by First National j 50,000 Bank in Langdon July 5 1 Consolidated with Bank of Italy and became a branch of Bank of Italy National Tr. and Sav. Association, San Francisco, Calif. 2 Consolidated with Liberty Bank of America of San Francisco, which was consolidated with Bank of Italy and became a branch of Bank of Italy National Trust & Savings Association, San Francisco, Calif. 208 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 5.—National banks reported in liquidation from November 1, 1926, to October 31, 1927, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capital—Continued Name and location of bank Morgan County National Bank of Fort Morgan, Colo. (7832), absorbed by The First National Bank of Fort Morgan First National Bank of Morenci, Mich. (5669), succeeded by First State Savings Bank of Morenci_ Reedley National Bank, Reedley, Calif. (9688), absorbed by and became a branch of Bank of Italy National Trust & Savings Association, San Francisco, Calif First National Bank of Waverly, Va. (10914), absorbed by Bank of Waverly Peoples National Bank of Jeannette, Pa. (7792), absorbed by The First National Bank of Jeannette ._. __ Stockmens National Bank of Nampa, Idaho (11609), succeeded by First Security Bank of Nampa National Bank of Grand Saline, Tex. (5696), absorbed by The State National Bank of Grand Saline Merchants National Bank of Butler, Pa. (9814), absorbed by Butler Savings & Trust Co Lansdowne National Bank, Lansdowne, Pa. (11386), absorbed by Lansdowne Trust Co., which changed its title to Lansdowne Bank & Trust Co _. Wabash National Bank, Wabash, Ind. (3935), absorbed by The Farmers & Merchants National Bank of Wabash Liberty National Bank of Beverly Hills, Calif. (12909), absorbed by The First National Bank of Beverly Hills First National Bank of Argos, Ind. (9726), absorbed by The First Trust & Savings Bank of Argos -___ State National Bank of West, Tex. (12712), succeeded by The State National Bank in West..:. __. West Englewood National Bank of Chicago, HI. (12004), absorbed by Ashland Sixty-third State Bank of Chicago. - . _ Commercial National Bank of Council Bluffs, Iowa (5838), absorbed by State Savings Bank of Council Bluffs ___ State National Bank of Lamesa, Tex. (12767), succeeded by The Lamesa National Bank, Lamesa _ _ _. First National Bank of Covington, Ind. (9860), succeeded by The National Bank of Covington . Alexander National Bank of St. Petersburg, Fla. (12623), absorbed by The First National Bank of St. Petersburg First National Bank in Modesto, Calif. (11853), absorbed by Bank of Italy National Trust & Savings Association, San Francisco, Calif Total (165 banks) . Date of liquidation 1927 Aug. 1 Capital $50,000 July 25 50,000 July 26 Aug. 1 100,000 25,000 50,000 July 14 75,000 Aug. 15 50,000 Aug. 18 200,000 Aug. 8 125,000 Aug. 25 200,000 Aug. 31 100,000 Aug. 26 25,000 Jan. 11 50,000 Aug. 1 200,000 Sept. 10 100,000 Sept. 29 60,000 Sept. 23 70,000 Oct. 19 200,000 Sept. 20 150,000 37,495,000 TABLE NO. 6.—Capital stocky surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, as amended February 25, 1927, for the year ended October 81, 1927, as shown by their last reports prior to consolidation Closing banks Charter No. Continuing banks I Title and location State Capital UnChar-I ter j Surplus divided Aggregate resources profits No. 10021 The Madison National Bank, Madison. 12994 The National Bank and Trust Co., Monessen. 13005 The Waynesboro National Bank and Trust Co., "Waynesboro. 1156 The National Bank of Lawrence County at New Castle. 7818 j The City National Bank I of Columbus. Nebr__ $50,000 Pa___ 150,000 3368 The Norfolk National I Bank, Norfolk. 988 I The Chicopee National Bank of Springfield. 4004 The Farmers & Merchants National Bank of Fort Worth. 13025 The Discount National Bank of New York. Va.._. 1,000,000 1,000,000 325,697 13, 990,105 6032 713 TheMoorhead National Bank, Moorhead. 4910 The Columbia National Bank of Pittsburgh. 4653 The Farmers National Bank of Longmont. 12276 The Central National Bank of Nashville. 13040 The County National Bank of Scranton. Pa.... Pa... Ohio. Mass. 200,000 Minn. Pa.- 0) 200,000 j 150,000 1,000,000 300,000 500,000 Tex... 1,000,000 N. Y_ $50,000 1,000,000 60,000 400,000 3773 The First National Bank of Madison 5253 The First National Bank of Monessen. 63,820 2,180,659 11866 First National Bank in Waynesboro. $1,278 14,969 50,000 5,899, 989 51,561 16,731,944 60,000 308 3131 1105 0) 600,000 1,300,000 562 The First National Bank of New Castle. 104, 794 7, 473,422 7621 500,000 501,802 13,273, 748 300,000 1, 552,419 2569 304,751 14, 801,929 5225 3,472 Colo. 50,000 200,000 11,283 1,357,955 11253 Tenn. 300,000 90,000 14,021 2,773,805 500,000 264,158 8,649,822 500,000 Title and location 1669 The National Bank of Commerce of Columbus. The National Bank of Commerce of Norfolk. The Third National Bank of Springfield. The Fort Worth National Bank, Fort Worth, Bowery and East River National Bank of New York. The First National Bank of Moorhead. The Bank of Pittsburgh National Association, Pittsburgh. The American National Bank of Longmont. Fourth and First National Bank of Nashville. The First National Bank of Scranton. Capital Surplus Undivided profits Aggregate Date of resources reports 1926 $791, 406 June 30 Date of consolidation 1926 Nov. 2 $50,000 $25,000 $13,245 50,000 60,000 53,998 1,602,315 ...do Nov. 9 59, 720 7,443,214 "Dec. 31 Dec. 31 500,000 1, 000,000 300,000 900,000 300,000J 400, 000 104,794 Do. 7, 787,313 202,912! 23,698,466 .do. 1927 Jan. 7 1,000,000 1,000,000 905, 019j 21,837,202 ..do Jan. 12 1,000,000 1,000,000 269, 369 22, 889, 822 .do Feb. 1,200,0001 3,300,000 2 Feb. 21 3,000,000i 2,500,000 1, 024, 545 78, 259, 943 1,194,211 Feb. 26 3,000,000 3,000,000 1,937,623 66, 882,381 Mar. 5 100,000 50,000 15,000 75,000 1, 500,000 1,500,000 6,326 1,548 1927 453,351 Mar. 23 131, 813 28, 942,175 2,000,000 2,000,000 1, 510, 801 46,587, 7 3 m a o Do. 4,392,001 1 Mar. 29 .do Apr. 1 -do- Do. o tr1 g TABLE NO. 6.—Capital stock, surplus, undivided profits, and aggregate resources of banks consolidated under act of November 7, 1918, as fcO amended February 25, 1927, for the year ended October SI, 1927, as shown by their last reports prior to consolidation—Continued K Closing banks Charter No. Title and location The American National Bank of Oklahoma City. The Greenwich National Eank of the City of New York. The Second National Bank of Parkersburg. The Commercial State Bank of Kansas City. The Jackson State Savings Bank, Jackson. State Capital Okla.. $1,000,000 N. Y_. 1,000,000 Continuing banks Surplus Undivided profits Aggregate resources ter No. $300,000 $161,281 $23,831,551j 0) 1352 W. Va. 156,000 140,000 63, 730 2,882,657 Kans__ 100,000 100,000 14,926 1,760,598 6311 Mich.. 300,000 70,000 14,636 2,461,626 The Redondo Savings Calif.. Bank, Redando Beach. Whittier Savings Bank, Calif.. Whittier. 100,000 36,000 10,267 250,000 100,000 106,842 United States Security Trust Co. of Hartford. The Western Reserve National Bank of Warren. Farmers National Bank of Springfield. The American Trust and Savings Bank of Springfield. The Safe Deposit Bank & Trust Co. of Tarentum. Fitchburg Bank and Trust Co., Fitchburg. 180 11289 672,437 8143 2,173, 626 5588 Conn. 2,000,000 2,000,000 86,110 15, 817,112 1338 | Ohio.. 400,000 200,000 70,482 5,670,353 Ohio.. 200,000 100,000 44,288 2,484,293 - 238 Ohio _. 200,000 150,000 43,000 3,537,976 Pa 125,000 50,000 16,665 Mass_. 500,000 300,000 The Camden National N . J . Bank, Camden. The Citizens State Bank W. Va. of Ripley. 100,000 35,000 Title and location Capital First National Bank in Oklahoma City. $1,000,000 The Hanover National Bank of the City of New York. The First National Bank of Parkersburg. The Commercial National Bank of Kansas City. The National Union Bank of Jackson. The First National Bank of Redondo, Redondo Beach. The First National Bank of Whittier. The Hartford-Aetna National Bank, Hartford. The Second National Bank of Warren. Surplus $200, 000 profits of Date of Date reports consolidation $204,275 $20,925,132 Mar. 23 Undivided Aggregate 5, 000, 000 15,000, 000 12, 021,182 191, 670, 675 .do. Apr. 22 Apr. 27 350,000 350,000 334,956 6,247,168 ...do..-. Apr. 30 600,000 200,000 41,770 9,894,336 .....do Apr. 30 400,000 200,000 171,236 8,384,481 ...do_... May 50,000 104,000 7,377 1,398,668 ...do..-. M a y 12 250,000 150,000 36,214 3,042,566 ...do..-. M a y 16 2,000,000 2,500,000 1,310,973 24,672,161 ..-do.... M a y 21 .-.do-_. M a y 24 4 200,000 200,000 100,578 4,518,309 The First National Bank of Springfield. 400,000 300,000 138,165 4,013,936 June 2 1,117,038 4453 The .National Bank of Tarentum. 100,000 75,000 54,798 1,792,061 June 9 37,198 5,660,957 7595 1,500,000 500,000 452,560 30,904,018 500,000 195,000 7,899,048 1209 1,000,000 1,000,000 707,126 26,092,466 June 30 June 30 15,000 1,511 260,920 10762 The Merchants National Bank of Worcester. The First National State Bank of Camden. The First National Bank of Ripley. 10,000 455,591 ...do..-. Do. 2479 35,000 -do. June 27 9878 5033 The National Bank of Orange. The City National Bank of Mayfield. American Trust & Savings Bank, BirmingAmerican Savings Bank Calif.. 150,000 50,000 29,565 1,253,372 8181 The First National Bank 150,000 50,000 6,219 964, 693 Mar. 23 Ky.._ 100,000 100,000 15,000 849, 792 2245 The First National Bank 150,000 181, 883 of Mayfield. Traders National Bank of Birmingham. 150,000 3,103, 765 June 30 July 2 250,000 150,000 121, 378 6, 359,384 July 11 1,496, 305 6481 The First National Bank 150, 000 A l a . . . 2, 2.50,000 1, 500,000 Calif.. 100,000 65,000 of Orange. 396,880 18,150, 900 7020 35, 775 of Anaheim. The Lagonda National 100,000 Bank of Springfield. 150,000 7558 The Talladega National Bank, Talladega. 3050 The First National Bank 1,000,000 of San Diego. OI iVIldllBlIIl. 5160 991 12604 75,000 32,200 1,483,803 150,000 The Citizens National Ohio.. Bank of Springfield. 3,152 791,060 29,000 100,000 The Bank and Trust Co. A l a . . . of Talladega. 500,000 52, 780 5, 759,800 200,000 The First Trust and Sav- Calif.. ings Bank of San Diego. The Pacific-Southwest Calif.. 7,000,000 6,000,000 1,462,630 197,164,069 Trust & Savings Bank of Los Angeles. 125,000 265,829 6,982,299 500,. 000 United States Trust Co. I n d of Terre Haute. The National State Bank N. Y__ of Troy. The Forest Hill National N. J— Bank of Newark. 250,000 The Bank of Niagara, Niagara Falls. i " 1 t N. Y__ i H6 State banks "125 national banks 2098 67,044 108,352 90,000 21, 493 500,000 3, 314,022 -.-dp..-. July 27 1,212,172 _._db_. Aug. 1 554,287 19, 896, 2871...do. Aug. 31 7562 The Terre Haute Na200,000 300,000 tional Bank, Terre Haute. The Manufacturers Na- 1,000,000 1,000,000 tional Bank of Troy. The Broad and Market 1,200,000 600, 000! National Bank and Trust Co. of Newark. 120, 000] The Cataract National 300,000 Bank of Niagara Falls. 5, 374,959 200,000 50,000 24,774 1,746,698 9912 721 500,000 200,000 305,862 8,042, 733 12284 } 8 O •3=1 The First National Bank 2,000,000 2, 666, 619 102,181, 733 3,500,000 of Los Angeles. 82,580 Do. 2, 289,316 2491 400,000 14,560,000 10,940,000 2,854,063 271,849,456 \ 9, 566,000 7,515,000 2,415,537 142,827,292 50,000 100,000 Do. do.. Sept. 1 3,882,6781 .do. . Sept. 7 692,285 32, 832, 033 -do.. Sept. 17 .do. Sept. 28 3, 579, 516 ..do. Sept. 29 156, 561 24, 958 12,153,726 30, 489 § o (40 national banks) _. 35,185,000 40, 574, 000 26, 435, 491 j 838, 542, 462 Did not report prior to consolidation. d 212 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 7.—National banks consolidated under act of November 7, 1918, their capital, surplus, undivided profits, and aggregate assets, year ended October 31. 1927 Consoli- Charda- ter tion No. No. 165 3773 166 5253 167 11866 168 562 169 7621 Title and location of bank The First National Bank of Madison. First National Bank and Trust Co. of Monessen. First National Bank and Trust Co. in Waynesboro. First National Bank of Lawrence County at New Castle The 'City National Bank of Commerce of Columbus. State Date of consolidation Capital Surplus $100,000 $20,000 $1,331 $1,201,618 Pa.___ Nov. 9 160,000 200,000 40,000 3,660,045 Pa-.._ Dec. 31 900,000 1,000,000 123,540 9,623,873 Pa do- 1,000,000 1,000,000 Ohio.. —do 400,000 10,291, 990 800,000 209,589 15,039.448 7 2,500,000 2,250,000 268,737 44,400,564 600,000 1QO7 6032 171 308 172 3131 173 1105 Norfolk National Bank of Commerce and Tnmts The Third National Bank and Trust Co. of Springfield. The Fort Worth National Bank Bowery and East River Na- 174 2569 The First and Moorhead 175 5225 The Bank of Pittsburgh Na- Pa..._ Mar. 5 3,000,000 3,000.000 tional \ssociation The First National Bank of Colo.. Mar. 29 100,000 150,000 Longmont. Fourth and First National Tenn. Apr. 1 2,000,000 2,000,000 National TJanlr * * **'' ' " T Aggregate assets 1926 Nebr.. Nov. 2 170 tional Tlank of Nftw Vnrk" Undivided profits Va—_ Jan. Mass— Jan. 12 1,420,000 1,500,000 1,448,025 34,270,935 Tex._. Feb. 2 2,000,000 1,000,000 547,443 37, 818, 692 N. Y__ Feb. 21 3,000,000 2,500,000 1,080,460 87,324,016 Minn. Feb. 26 150,000 30,000 2,613,573 50,000 •L. TI Cb V*-\Jl~XCX i- 176 11253 177 1669 178 77 179 4862 180 1352 181 180 187 2479 188 238 191 1209 193 8181 194 2245 197 2098 202 721 203 9912 7,196 1,690,276 136,440 33, 772,568 J3 tillft.\ji ±\ doll V111C 2,250,000 2, 500,000 1, 545,259 54,012,424 P a . . . . ...do The First National Bank of Ot/xdXitOIl. The American-First National Okla- Apr. 22 3,000,000 200,000 174,634 42, 733, 754 Bank in Oklahoma City. The Hanover National Bank N. Y_. Apr. 27 5,000,000 15, 000.000 11,190,202 218,879,222 of the City of New York. • 454,000 454,000 454,000 8, 829, 615 The First National Bank of W.Va. Apr. 30 _L OiL 1SJ3L O U t i l j£ < 121, 911 8, 627,445 Ohio.. May 24 350,000 250,000 The Second National Bank 4 of "Wrvi*T*QTI The First National Bank and Ohio.- June 2 800,000 Trust Co. of Springfield.i First Camden National Bank N. J... June 30 1,300,000 diiu x ruoi \^o. The First National Bank of Calif Orange. The First National Bank of Ky.___ Mayfield. Lagonda-Citizens National Ohio-. Bank of Springfield. The Manufacturers National N. Y.. Bank of Troy. The Broad and Market Na- N. J_. tional Bank and Trust Co. of Newark. Total (25 banks) 1 1,946,319 79,165,954 Also includes a State bank. -do. 500,000 272, 981 10,036,205 1, 750,000 469,264 33,908,759 300,000 60,000 2 500,000 500,000 108,237 4,121,256 July 27 350,000 100,000 116,866 3, 824,704 July Sept. 17 1,200,000 1,200,000 Sept. 28 1,325,000 700,000 2,297,905 800,000 37,308,517 77,000 13,342,796 33,759.000 38,684,000 21,569,434 798,796,154 TABLE N O . 8.—State banks and national banks consolidated under act of February 25, 1927, giving their consolidated capital, surplus, undivided profits, and aggregate assets, year ended October 81, 1927 Consolidation No. The Commercial State Bank of Kansas City. The Jackson State Savings Bank, Jackson. The Kedondo Savings Bank, Redondo Beach. Whittier Savings Bank, Whittier 182 183 184 185 United States Security Trust Co. of Hartford. The American Trust and Savings Bank of Springfield.i The Safe Deposit Bank & Trust Co. of Tarentum. Fitchburg Bank and Trust Co., Fitchburg, Mass.2 The Citizens State Bank of Ripley American Trust & Savings Bank, Birmingham. American Savings Bank of Anaheim.. The Bank and Tmst Co. of Talladega 186 188 189 190 192 195 196 198 199 200 201 204 Title and location of State bank The First Trust and Savings Bank of San Diego.3 The Pacific-Southwest Trust <& Savings Bank of Los Angeles.4 United States Trust Co. of Terre Haute. The Bank of Niagara, Niagara Falls,... Total (116banks) Charter No. of national bank Title and location of national bank State Capital Surplus $750,000 $250,000 500,000 8143 The First National Bank of Redondo . . Calif.. May 12 200,000 5588 1338 238 4453 7595 10762 7020 6481 7558 3050 2491 7562 J2284 Undivided profits in Aggregate Increase authorized assets capital 1927 The Commercial National Bank of Kans.. Apr. 30 Kansas City. 11289 The National Union Bank of Jackson._ Mich. May 4 6311 First National Trust and Savings Bank of Whittier. Hartford National Bank and Trust Co., Hartford. The First National Bank and Trust Co. of Springfield. First National Bank & T m s t Co. of Tarentum. Worcester County National Bank of Worcester. The First National Bank of Ripley American-Traders National Bank of Birmingham. The First National Bank of Anaheim.. The Talladega National Bank, Talladega. The First National Trust and Savings Bank of San Diego. Los Angeles-First National Trust & Savings Bank, Los Angeles. Terre Haute National Bank and Trust Co., Terre Haute. National Bank of Niagara and Trust Co. of Niagara Falls. $18,333 $10,642, 854 $150, 000 300,000 90, 577 10, 530, 966 100,000 90,000 24, 894 2, 044, 376 150,000 -_.do__ May 16 250,000 250.000 245, 348 5,364,115 Conn__ May 21 4, 000,000 4, 000, 000 2, 058, 302 40, 491, 273 2, 000, 000 Ohio.. June 2 800,000 500,000 272, 981 10, 036, 205 200, 000 Pa____ June 9 200, 000 150, 000 73, 618 2, 805, 332 100, 000 Mass.. June 27 1, 875,000 500, 000 1,064,126 37, 475, 023 375, 000 W.Va_ Ala-_. CalifAla--. June 30 July 11 70,000 2, 750, 000 20,000 1, 500, 000 709, 618 24, 510, 284 35,000 2, 500,000 ...do Aug. 1 200,000 200,000 100,000 100,000 4, 760, 964 1,929,147 50,000 50,000 Calif _ —do— Ind__. N. Y. _._ 12 This consolidation includes the Farmers National Bank of Springfield with capital of $200,000. With one branch in Fitchburg, Mass. a With 3 branches in San Diego and 1 at Coronado, Calif. 4 With 99 branches in California, 44 of which are in Los Angeles. Date of consolidation Aug. 31 1,000, 000 500,000 Sept. 1 12, 250, 000 8, 000, 000 Sept. 7 600, 000 500, 000 Sept. 29 1, 200, 000 550, 000 26,845,000 17,310, 000 723,214" 15,000 81 584, 558 7,750,000 151,541 61, 961 13,134, 422 I o o o htj 26, 380, 274 299, 345, 802 8, 750, 000 9, 048, 540 300,000 12, 249, 864 900, 000 498, 324, 637 15, 660,000 o d o CO 214 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 9.—Number and capital of State hanks converted into national banking associations in each State and Territory from 1863 to October 31,1927 Number of banks State or Territory Maine New Hampshire.. Vermont Massachusetts Rhode Island Connecticut New England States New York _ New Jersey. Pennsylvania.._ _ Delaware Maryland District of Columbia. Eastern States.. Virginia _. West Virginia... North Carolina.. South Carolina.. Georgia Florida Alabama Mississippi Louisiana Texas.. Arkansas Kentucky Tennessee Southern States. i Capital 34 28 22 190 52 65 $4,605,000 2,595,000 2,029,990 72,691,200 16, 717,550 18, 932, 770 391 117,571,510 236 116,131,291 49 . 9, 520,450 118 ! 33,299,095 585,010 6 36 10,249,372 1,080,000 451 170,865,218 67 , 5,937,100 33 2,208,900 37 3,511,000 48 4,512,000 29 5,937,000 21 2,165,000 31 3,660,000 16 1,290,000 12 3, 575,000 139 9,992, 500 40 2,407,500 43 6,006,900 49 4, 515,000 565 Number of banks State or Territory Ohio. Indiana Illinois Michigan... Wisconsin Minnesota Iowa Missouri 24 25 39 25 33 112 42 46 _ ___ Middle Western States.. North Dakota.. South Dakota Nebraska Kansas.. __ Montana Wyoming _ Colorado. New Mexico.. Oklahoma. __. Western States Washington Oregon California... Idaho Nevada Arizona... 55,717,900 , _ Pacific States _ United States Capital $2,890,000 1,608,000 4,130,000 2,870,000 3,395,000 7,371,000 1,935,000 17,051, 800 41, 250,800 83 49 73 81 37 9 35 7 191 565 24,992,000 61 28 111 26 1 5 5,725,000 1,651,000 44,622,800 1,080,000 50,000 300,000 232 53,428,800 2,550 463,826,228 TABLE NO. 10.—Conversions of State banks and primary organizations as national banks from March 14, 1900, to October 31, 1927 Conversions of State banks Classification Number Capital less than $50,000 Capital $50,000 or over Total Capital Reorganizations from State and Primary organiprivate banks and zations national banks Number Capital Number Capital Total Number Capital 873 $23,233,300 1,147 $30,382,000 2,594 $66,865,500 4,614 $120,480,800 758 161,372,800 726 114,970,000 1,774 243,065,000 3,258 519,407,800 1,631 184,606,100 1,873 145,352,000 4,368 309,930,500 7,872 639, 888, 600 215 BEPOET OF THE COMPTROLLER OP THE CURRENCY TABLE N O . 11.—Number of national banks increasing their capital, together with the amount of increase monthly for years ended October 81, since 1922 1923 Months Nov Dec Tan Feb. Mar Apr May_ June July Aug Sept Oct Number 11 49 57 28 30 22 15 22 29 16 10 13 .- 1924 Capital Of 2 Of 3 Of 4 Of these these these these cases, cases, cases, cases, 9 12 34 25 24 22 6 11 26 5 9 13 $880,000 11,165,000 6, 835, 000 3, 605, 000 3, 870, 000 2, 505, 000 2, 540, 000 2, 700, 000 3, 200, 000 1,485, 000 1, 045, 000 3, 037, 500 Total- -- 1302 142,867,500 1 Number 2 1925 Number Capital $1,740,000 1, 475, 000 4,100, 000 5,935, 000 3, 487, 500 2,115, 000 675,000 485, 000 2,165, 000 410, 000 1, 040, 000 1, 325, 000 8 13 21 19 18 22 12 22 26 13 14 15 1927 1926 Capital Number $590,000 3, 287, 500 2, 000, 000 14, 687, 500 2, 950, 000 7, 220, 000 1,465, 000 3, 570, 000 2,185, 000 2,160, 000 2, 240, 000 1, 055, 000 Capital 9 24 31 28 17 25 11 15 28 8 7 7 Number $1, 255,000 4, 850, 000 6, 030, 000 6,081, 250 4,120, 000 18, 060, 000 1, 485, 000 1, 918, 750 3, 057, 500 1, 360, 000 435, 000 787, 500 6 20 35 22 22 23 15 21 35 17 11 11 Capital $170,000 3,640,000 4, 032, 500 29,900,000 11, 505, 000 2, 820, 000 4, 575,000 6,913, 710 5, 775, 000 2,163, 000 12,950, 000 1, 740, 000 196 2 24,952,500 3 203 3 43,410,000 4 210 4 49,440,000 5 238 5 86,184,210 165 were effected wholly or in part b y stock dividends aggregating $24,749,000. 78 were effected wholly or in p a r t b y stock dividends aggregating $7,093,583. 85 were effected wholly or in p a r t b y stock dividends aggregating $7,680,300. 67 were effected wholly or in part b y stock dividends aggregating $8,846,400. * Of these cases, 73 were effected wholly or in part by stock dividends aggregating $6,776,350. TABLE NO. 12.—Number and authorized capital of national banks chartered and the number and capital stock of banks closed in each year ended October 31, since 1913, with the yearly increase or decrease Closed Chartered Year No. 1917._.. 1918 1919_... 1920___. 1921.._. 1922_... 1923_._. 1924___ 1925._.. 1926.... 1927_._. Consolidated under act Nov. 7,1918 Capital No. 195 $18, 675,000 144 9, 689, 500 122 6, 630, 000 176 11, 590, 000 164 13, 400, 000 245 21, 780, 000 361 31, 077, 500 169 20, 005, 000 232 24, 890, 800 190 30, 522, 500 135 21, 375, 000 251 26, 040,000 160 29, 705, 000 135 43, 570,000 Loss to capital In voluntary liquidation No. i1 $3,220,000 1 , 650, 000 V 850, 000 l 3, 275, 000 1 2, 575,000 1 1,255,000 11, 660, 000 1 4, 455, 010 1 3,407,000 1 2 Capital 113 $26,487,000 82 13,795,000 135 14, 828, 000 107 14, 367, 500 68 16,165, 000 83 16, 380, 000 84 14, 730, 000 93 37, 075,000 103 18, 910,000 121 39,290,000 155 40, 745,000 123 14,467, 500 153 28, 668, 300 165 37,495,000 Insolvent No. 21 14 13 7 2 1 5 34 31 53 138 98 91 135 Net yearly Net yearly increase decrease (exclusive of (exclusive of existing banks existing banks increasing decreasing their capital) their capital) Capital No. Capital No. $1,., 810,000 1,830,000 805, 000 1,230, 000 250, 000 25, 000 205, 000 1, 870,000 2, 015, 000 3, 405, 000 9, 635,000 6,420, 000 5,412, 500 8,257,000 62 94 135 $2,155,0001. 257il4;492,500 18 77 690,800 Capital $9,622,000 5,935, 500 9, 003, 000 4,007, 500 3,015,000 19, 790,000 3 l4,"747,500 174 30,260,000 15 3,492,500 3 114 8, 820,810 176 4, 439,000 Amount of capital stock reductions incident to consolidations. Includes 5 banks with aggregate capital of $250,000 restored to solvency. Also includes 6 banks with an aggregate capitalof $675,000 which had been placed in voluntary liquidation by their shareholders prior to Nov. 1,1926, and 3 banks with an aggregate capital of $225,000 which were placed in voluntary liquidation by3 their shareholders since that date. There was a decrease of 176 banks, considering the 5 banks restored to solvency and the 9 banks which were in voluntary liquidation. 71284°—28 15 216 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 13.—Total number of national banks organized, consolidated under act November 7, 1918, insolvent, in voluntary liquidation, and in operation on October 31, 1927 Organized States, Territories, etc. Maine New Hampshire Vermont Massachusetts. Rhode Island Connecticut-. 1 1 1 7 2 3 Total New England States._. 792 910 371 16 1 6 171 49 44 153 13 65 15 34 354 389 1,136 24 9 19 52 10 54 29 127 30 3 2 4 269 54 194 10 41 10 565 298 869 19 84 13 2,603 55 122 578 1,848 10 7 50 167 122 76 66 83 65 106 347 65 118 . Total Eastern States ._ _ Virginia West Virginia North Carolina __ South Carolina Georgia -. Florida Alabama Mississippi Louisiana Texas... Arkansas Kentucky ._ __ _ Tennessee Total Southern States Ohio . . _ Indiana Illinois Michigan _ . . Wisconsin Minnesota Iowa Missouri Total Middle Western States North Dakota. South Dakota Nebraska Kansas Montana Wyoming Colorado _ New Mexico Oklahoma 234 163 127 113 167 109 161 67 83 1,039 ___ -.. 4 7 55 3 2 5 6 15 12 4 18 16 13 62 28 42 314 26 78 73 652 80 141 105 1,731 32 34 30 28 41 36 32 231 194 2,809 6 5 3 8 64 14 6 11 47 193 838 630 399 16 5 36 23 339 231 703 3 239 140 30 180 490 121 -. In liqui- In operadation tion 67 55 46 73 76 „ New York New Jersey Pennsylvania— Delaware Maryland District of Columbia Insolvent 13 22 113 .. Consolidated under act Nov. 7, 1918 2 9 1 265 237 447 500 268 2 3 3 3 6 3,449 41 277 1,076 2,055 242 200 346 1 1 1 55 60 44 44 41 146 142 98 155 434 4 2 43 129 258 74 30 189 57 205 78 3 17 13 62 80 16 62 12 28 24 113 65 96 132 111 51 15 50 25 133 156 286 285 135 124 29 715 3 51 313 348 Total Western States 2,466 15 379 814 1,258 Washington Oregon __ California Idaho Utah Nevada ._ Arizona _ Total Pacific States 201 135 480 106 38 16 29 1,005 4 31 13 23 25 Alaska Porto Rico _ Total Alaska and insular possessions Total United States, Alaska, and insular possessions 12 2 3 2 3 18 100 56~ " " 27 204 29 13 4 9 110 95 241 52 20 10 17 342 545 5 6 1 1 4 1 4 2 12 6 6 4,008 7,832 13,136 191 1,105 REPORT OF TH^l COMPTROLLER OF THE CURRENCY 217 TABLE NO. 14.—Changes of corporate title of national banks, year ended October 31, 1927 Charter No. Title and location The Fanners National Bank of Millheim, Pa., to "The Farmers National Bank & Trust Co. of Millheim" _ The Doylestown National Bank, Doylestown, Pa., to "The Doylestown National Bank and Trust Co." _ _ , 8723 The Vassar National Bank, Vassar, Mich., to "Millington National Bank," Millington, Mich 11896 The Arnold National Bank, Arnold, Pa., to "The National Deposit Bank of Arnold" 9917 The Hillsboro National Bank, Hillsboro, Oreg., to "The Commercial National Bank of Hillsboro" 4885 The Farmers National Bank of Osage, Iowa, to "Osage Farmers National Bank".__ 5061 The First National Bank of Summit, N. J., to "The First National Bank and Trust Co. of Summit" _ _ 12043 The Security National Bank of Tulsa, Okla., to "Tulsa National Bank" 12213 The Capitol National Bank of New York, N. Y., to "The Capitol National Bank and Trust Co. of New York" __. 5279 The City National Bank of Evanston, 111., to "City National Bank and Trust Co. of Evanston" 12804 The National Bank of Hollywood in Los Angeles, Calif., to "The Hollywood National Bank of Los Angeles" 12540 The Brotherhood of Locomotive Engineers National Bank of Boston, Mass., to "The Engineers National Bank of Boston" _ __ _ _ 12771 The Labor Cooperative National Bank of Newark, N. J., to "Labor National Bank of Newark". _ 7589 The Old National Bank of Battle Creek, Mich., to " The Old National Bank and Trust Co. of Battle Creek" .__ _ _ 12661 The First National Bank of L'Anse Creuse, Mich., to "The First National Bank of Saint Clair Shores," Mich., to conform to change in name of place in which bank is located 5816 The National Exchange Bank of Castleton, N. Y., to "The National Exchange Bank of Castleton on Hudson" to agree with change in name of place in which bank is located._ 3817 The Canandaigua National Bank, Canandaigua, N. Y., to "The Canandaigua National Bank and Trust Co." 1260 The Pittsfield National Bank, Pittsfield, Mass., to "The Pittsfield National Bank and Trust Co." 10787 The First National Bank of Pompton Lakes, N. J., to "The First National Bank and Trust Co. of Pompton Lakes" 523 The First National Bank of Middletown, N. Y., to "First National Bank and Trust Co. of Middletown"__ __ 604 The York National Bank, York, Pa., to "The York National Bank and Trust Co." 11658 Beach Haven National Bank, Beach Haven, N. J., to "Beach Haven National Bank and Trust Co." .._ 3335 The Elizabethtown National Bank, Elizabethtown, Pa., to "First National Bank and Trust Co. of Elizabethtown" 4365 The Citizens National Bank of Englewood, N. J., to "The Citizens National Bank and Trust Co. of Englewood". 5072 The Adirondack National Bank of Saranac Lake, N. Y., to "Adirondack National Bank and Trust Co. of Saranac Lake" __ __ 9912 The Broad and Market National Bank of Newark, N. J., to "The Broad and Market National Bank and Trust Co. of Newark". 2844 The Third National Bank of Greensburg, Ind., to "Third National Bank and Trust Co. of Greensburg" 13038 The Capitol National Bank of Hartford, Conn., to "The Capitol National Bank and Trust Co. of Hartford" 11034 The Public National Bank of New York, N. Y., to "The Public National Bank and Trust Co. of New York" 12764 New First National Bank of Fullerton, Calif., to "First National Trust and Savings Bank of Fullerton" __ 5137 The Merchants National Bank of Elmira, N. Y., to "The Merchants National Bank and Trust Co. of Elmira" 1106 The Highland National Bank and Trust Co. of Newburgh,N.Y.,to "Highland-Quassaick National Bank and Trust Co. of Newburgh" 11545 The Linden National Bank, Linden, N. J., to " The Linden National Bank and Trust Co."_ 9612 The Citizens National Bank of Caldwell, N. J., to "The Citizens National Bank and Trust Co. of Caldwell" 6227 The First National-Magruder Bank of Port Clinton, Ohio, to "National Bank of Port Clinton" 8254 The First National Bank of New Egypt, N. J., to "The First National Bank and Trust Co. of New Egypt" 191 The First National Bank of Kalamazoo, Mich., to "The First National Bank and Trust Co. of Kalamazoo" _._ 3211 The Kalamazoo National Bank, Kalamazoo, Mich., to "Kalamazoo National Bank and Trust Co." „ ... 11292 The Port Washington National Bank, Port Washington, N. Y., to "The Port Washington National Bank and Trust Co." 11747 The American National Bank of Mount Vernon, N. Y., to "The American National Bank and Trust Co. of Mount Vernon" 2104 The First National Bank of Santa Barbara, Calif., to " First National Trust and Savings Bank of Santa Barbara" , 9511 Date 1926 Nov. 1 573 Nov. 9 Nov. 27 Dec. 31 1927 Jan. 3 Jan. 5 Jan. 13 Jan. 15 Do. Jan. 17 Do. Jan. 20 Do. Jan. 24 Do. Jan. 25 Feb. 15 Feb. 18 Do. Mar. 1 Do. Mar. 17 Mar. 30 Apr. 1 Apr. 18 Apr. 22 May 2 May 6 May 14 Do. May 19 May 21 May 23 May 28 June 8 Do. June 10 June 14 Do. June 15 June 21 218 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 14.—Changes of corporate title of national banks, year ended October 31, 1927—Continued 659 The Fallkill National Bank of Poughkeepsie, N . Y., to " T h e Fallkill National Bank and Trust Co. of Poughkeepsie" 10911 The First National Bank of Willisville, 111., to " The First National Bank of Ava," 111 13050 The Sheridan National Bank, Sheridan, Ind., to "Farmers and Merchants National Bank of Sheridan" 8240 The Gramatan National Bank of Bronxville, N . Y. to " T h e Gramatan National Bank and Trust Co. of Bronxville" _ 11188 Farmers National Bank of Bedford, Pa., to "Farmers National Bank and Trust Co. of Bedford" 9745 Santa Cruz County National Bank of Santa Cruz, Calif., to " County First National Bank of Santa Cruz" i3007 The First National Bank of Verdugo City, Calif., to " T h e First National Bank of La Crescenta Valley at Verdugo City" 9997 The First National Bank of Saguache, Colo., to "Saguache County National Bank of Saguache". 6161 The Louisville National Bank, Louisville, Ky., to " T h e Louisville National Bank and Trust C o " 11289 The National Union Bank of Jackson, Mich., to "National Union Bank and Trust Co. of Jackson" _ _ _ 1670 The Ilion National Bank, Ilion, N . Y., to "Ilion National Bank and Trust C o " 12115 The Richfield National Bank, Richfield, Minneapolis, Minn., to " T h e Richfield National Bank of Minneapolis" 1927 June 24 July 1 July 2 July 7 July 25 Aug. 1 Aug. 4 Aug. 12 Aug. 15 Aug. 19 Aug. 26 Sept. 26 TABLE N O . 15.—Changes of corporate title incident to consolidations of national banks, and of State banks with national banks, year ended October 31, 1927 The National Bank and Trust Co. of Monessen, Pa. (12994), and The First National Bank of Monessen (5253) consolidated under the charter of the latter with title: First National Bank and Trust Co. of Monessen. The Waynesboro National Bank and Trust Co., Waynesboro, Pa. (13005), and First National Bank in Waynesboro (11866) consolidated under the charter of the latter, with title: First National Bank and Trust Co. in Waynesboro. The National Bank of Lawrence County at New Castle, Pa. (1156), and The First National Bank of New Castle (562) consolidated under the charter of the latter, with title: First National Bank of Lawrence County at New Castle. The City National Bank of Columbus, Ohio (7818), and The National Bank of Commerce of Columbus (7621) consolidated under the charter of the latter, with title: The City-National Bank of Commerce of Columbus. The Norfolk National Bank, Norfolk, Va. (3368), and The National Bank of Commerce of Norfolk (6032) consolidated under the charter of the latter, with title: Norfolk National Bank of Commerce and Trusts. The Chicopee National Bank of Springfield, Mass. (988). and The Third National Bank of Springfield (308) consolidated under the charter of the latter, with title: The Third National Bank and Trust Co. ol Springfield. The Moorhead National Bank, Moorhead, Minn. (4713), and The First National Bank of Moorhead (2569) consolidated under the charter of the latter, with title: The First and Moorhead National Bank. The Farmers National Bank of Longmont, Colo. (4653), and The American National Bank of Longmont (11253) consolidated under the charter of the latter, with title: The First National Bank of Longmont. The American National Bank of Oklahoma City, Okla. (5716), and First National Bank in Oklahoma City (4862) consolidated under the charter of the latter, with title: The American-First National Bank in Oklahoma City. Whittier Savings Bank, Whittier, Calif., and The First National Bank of Whittier (5588) consolidated under the charter of the latter, with title: First National Trust and Savings Bank of Whittier. United States Security Trust Co. of Hartford, Conn., and The Hartford-Aetna National Bank, Hartford (1338), consolidated under the charter of the latter, with title: Hartford National Bank and Trust Co. Farmers National Bank of Springfield, Ohio (S446), The American Trust and Savings Bank of Springfield, Ohio, and The First National Bank of Springfield (238), consolidated under the charter of the latter, with title: The First National Bank and Trust Co. of Springfield. The Safe Deposit Bank & Trust Co. of Tarentum, Pa., and The National Bank of Tarentum (4453) consolidated under the charter of the latter, with title: First National Bank & Trust Co. of Tarentum. Fitchburg Bank and Trust Co., Fitchburg, Mass., and The Merchants National Bank of Worcester, Mass. (7595) consolidated under the charter of the latter, with title: Worcester County National Bank of The Camden National Bank, Camden, N. J. (3372), and The First National State Bank of Camden (1209), consolidated under the charter of the latter, with title: First-Camden National Bank and Trust Co. American Trust & Savings Bank, Birmingham, Ala., and Traders National Bank of Birmingham (7020) consolidated under the charter of the latter, with title: American-Traders National Bank of Birmingham. The Citizens National Bank of Springfield, Ohio (5160), and The Lagonda National Bank of Springfield (2098) consolidated under the charter of the latter, with title: Lagonda-Citizens National Bank of SpringThe First Trust and Savings Bank of San Diego, Calif., and The First National Bank of San Diego (3050) consolidated under the charter of the latter with title: The First National Trust and Savings Bank of San The" Pacific-Southwest Trust & Savings Bank of Los Angeles, Calif., and The First National Bank of Los Angeles (2491), consolidated under the charter of the latter, with title: Los Angeles-First National United State^Trust Co. of Terre Haute, Ind., and The Terre Haute National Bank, Terre Haute (7562), consolidated under the charter of the latter, with title: Terre Haute National Bank and Trust Co. The Bank of Niagara, Niagara Falls, N. Y., and The Cataract National Bank of Niagara Falls (12284), consolidated under the charter of the latter, with title: National Bank of Niagara and Trust Co. of Niagara Digitized forFalls. FRASER REPORT OF THE COMPTROLLER OF THE CURRENCY 219 TABLE NO. 16.—National banks chartered during the year ended October 81, 1927 Charter No. Capital Title ALABAMA 13097 13128 Merchants National Bank of Mobile Hartford National Bank, Hartford . Total (2 banks) $500,000 50,000 550,000 CALIFORNIA 13007 13010 13016 13028 13029 13044 13049 13054 13069 13071 13079 13092 13094 13135 First National Bank of Verdugo City * _ Commercial National Bank of Berkeley Brotherhood National Bank of San Francisco, First National Bank in Merced First National Bank in Escondido Bank of Italy National Trust and Savings Association, San Francisco 2__ First National Bank of Carlsbad _ . . _ First Central National Bank of Calexico Magnolia Park National Bank of Burbank American National Bank of Glendale •___ _ _ _ _ . . First National Bank of Fallbrook Citizens National Bank of Ontario __ California National Bank of Beverly Hills .._ _ .. _. National Bank of Lynwood Total (14 banks) 50,000 250,000 500,000 100,000 50,000 20,000*000 25,000 300,000 100,000 200,000 25,000 100,000 100,000 50,000 21,850,000 COLORADO 13098 West Side National Bank of Denver __ 100,000 CONNECTICUT 13038 13042 Capitol National Bank of Hartford 3 First National Bank in Greenwich Total (2 banks) ._ __ 300,000 100,000 400,000 FLORIDA 13008 13090 13102 Coral Gables First National Bank, Coral Gables First National Bank in Palm Beach First National Bank of Mount Dora... __ Total (3 banks) _ _ . . _ 100,000 100 000 100,000 300,000 GEORGIA 13068 Citizens and Southern National Bank, Savannah i 3,000,000 ILLINOIS 13036 13119 Midland National Bank of Chicago.__ Addison National Bank of Chicago Total (2 banks) _. 200,000 200,000 400,000 INDIANA 13050 13082 Sheridan National Bank, Sheridan 5 National Bank of Covington_. Total (2 banks) _.. 40, 000 50, 000 90,000 IOWA 13020 13059 13073 13083 13109 13112 First National Bank in Spirit Lake National Bank of Emmetsburg National Bank of Toledo Nevada National Bank, Nevada Commercial National Bank of Corydon. Clay County National Bank of Spencer Total (6 banks) _ _ _. 1 Title changed to "The First National Bank of La Crescenta Valley at Verdugo City.' 2 With 277 branches in California, 26 of which are in San Francisco. » Title changed to "The Capitol National Bank and Trust Co. of Hartford." With 9 branches in Georgia, one of which is in Savannah. Title changed to "Farmers and Merchants National Bank of Sheridan." 4 8 50,000 60,000 50, 000 40,000 40,000 60,000 300,000 220 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 16.—National banks chartered during the year ended October 81, 1927— Continued 13033 13076 13106 Union National Bank of Neodesha Thomas County National Bank of ColbyExchange National Bank of Hutchinson__ Total (3 banks) _ 13023 13024 $50,000 50,000 150,000 250,000 Second National Bank of Paintsville Union National Bank of Elizabethtown.. Total (2 banks) _ 75,000 50,000 125,000 MASSACHUSETTS 13060 Cambridge National Bank, Cambridge._ 200,000 13072 East Side National Union Bank of Jackson.. 100,000 MINNESOTA 13060 13075 13078 13081 13086 13095 13096 13108 13114 13116 13127 13131 Fourth Northwestern National Bank of Minneapolis.. Becker County National Bank of Detroit Lakes Pioneer National Bank of Duluth Citizens National Bank of Olivia.. Security National Bank of Montevideo __ First National Bank in Jackson Minnehaha National Bank of Minneapolis Central National Bank of Minneapolis _ Columbia National Bank of Columbia Heights Western National Bank of Duluth Third Northwestern National Bank of Minneapolis... Midway National Bank of St. Paul Total (12banks). 100,000 50,000 100,000 25,000 50,000 30,000 100,000 100,000 25,000 100,000 200,000 100,000 980, 000 NEBRASKA 13013 13017 13101 City National Bank in Kearney.. City National Bank in Lincoln. _ First National Bank of Osmond.. 150,000 300,000 25,000 Total (3 banks) _ 475,000 NEW JERSEY 13012 13034 13039 13043 13047 13058 13065 13117 13120 13123 13125 13129 13136 Northern Valley National Bank of Tenafly , Harrison National Bank, Harrison Security National Bank of Trenton Hayes Circle National Bank and Trust Co. of Newark. First National Bank of Wharton Mount Prospect National Bank of Newark _ __ Bay Head National Bank, Bay Head First National Bank of Oradell American National Bank of Camden Lincoln National Bank of Passaic First National Bank of Marlton Livingston National Bank, Livingston First National Bank of Cedar Grove Total (13 banks). 100,000 225,000 200,000 500,000 50, 000 200,000 30,000 50,000 300,000 500,000 25,000 50,000 50,000 2, 280,000 NEW YORK Endicott National Bank, Endicott... 100,000 Stewart National Bank of Livonia 75,000 Discount National Bank of New York« 1,000,000 Claremont National Bank of New York 400,000 Elmhurst National Bank of New York... 200,000 Wheeler National Bank of Interlaken 50,000 Seward National Bank of New York _ 2,000,000 Greenwich National Bank of the City of New York» 1,000,000 6 With 2 branches in the city and county of New York. Consolidated on Feb. 21, 1927, with Bowery and East River National Bank of New York under act Nov. 7, 1918. 7 With 10 branches in the city and county of New York. Consolidated on Apr. 27,1927, with The Hanover National Bank of the City of New York under act Nov. 7,1918. 13004 13006 13025 13027 13035 13037 13045 13051 REPORT OF THE COMPTROLLER OP THE CURRENCY 221 TABLE NO. 16.—National banks chartered during the year ended October 81, 1927— Continued NEW YORK—continued 13055 13062 13063 13074 13080 13085 13104 13105 13115 13121 13122 13124 13126 13130 13132 Prospect National Bank of Brooklyn in New York Sunrise National Bank of Baldwin. Bedford National Bank of Brooklyn in New York National City Bank of Long Beach Bensonhurst National Bank of Brooklyn in New York _ Frontier National Bank of Buffalo Bay Parkway National Bank of Brooklyn in New York Bolton National Bank of Bolton Landing.. West Hempstead National Bank, West Hempstead College Point National Bank of New York. _ Douglaston National Bank of New York Mahopac National Bank, Mahopac ._ Guardian National Bank of New York _ Williston National Bank of Williston Park, post office East Williston. First National Bank of Glen Head ._ _ National Bank of Lake Ronkonkoma _ ._ Mutual National Bank of the City of New York Total (25 banks). $500,000 75,000 500,000 100,000 200,000 200,000 200,000 50,000 50,000 200,000 100,000 25,000 100,000 50,000 50,000 25,000 500,000 7, 750,000 NORTH DAKOTA 13041 13053 Security National Bank of Hope. First National Bank in Langdon_ 13018 13021 13100 Durant National Bank in Durant First National Bank in Madill Hartshorne National Bank, Hartshorne Total (2banks). 25,000 50,000 75,000 OKLAHOMA _ Total (3 banks). 200,000 OREGON 13093 100,000 50,000 50,000 Lumbermens National Bank of Bend. 100,000 PENNSYLVANIA ^ 13002 First National Bank of Roseto 13003 Tioga National Bank of Philadelphia.. 13005 Waynesboro National Bank and Trust Co., Waynesboro 8 . 13009 Peoples National Bank of Burgettstown 13011 Citizens National Bank of Seward 13015 Morton National Bank, Morton 13026 Hatfield National Bank, Hatfield 13030 Elkins Park National Bank, Elkins Park 13031 Springfield National Bank, Springfield 13032 Erie National Bank of Philadelphia 13040 County National Bank of Scranton 9 13064 First National Bank of Friedens _ 13084 Union National Bank of New Kensington * 13087 Economy National Bank of Ambridge. 13113 National Bank of Mt. Airy in Philadelphia 13118 Farmers National Bank of Beliefonte 13133 Dublin National Bank, Dublin 13134 First National Bank and Trust Co. of Waynesburg Total (18 banks). 50,000 200,000 200,000 50,000 25,000 50,000 50,000 50,000 50,000 250,000 500,000 25,000 100,000 100,000 100,000 50,000 50,000 250, 000 2,150,000 SOUTH DAKOTA 13061 First National Bank of Ree Heights 25,000 13056 13077 13103 First National Bank of Smithville... First National Bank of Big Sandy.. Third National Bank in Nashville- 30,000 25,000 600,000 Total (3 banks) . 13014 First National Bank of Borger 13019 American National Bank of Honey Grove 13022 State National Bank in West _ 13046 First National Bank in Cooper 13048 Fannersville National Bank of Farmersville.. 13052 Blossom National Bank, Blossom 13067 Teague National Bank, Teague 13070 First National Bank of Panhandle 655,000 50,000 100,000 50,000 50,000 50,000 30,000 60,000 50,000 8 Consolidated on Dec. 31, 1926, with First National Bank and Trust Co. in Waynesboro under act Nov. 7, 1918. 9 Consolidated on Apr. 1,1927, with The First National Bank of Scranton under act Nov. 7,1918. 222 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 16.—National banks chartered during the year ended October SI, 1927Continued 13107 13110 13111 TEXAS—continued City National Bank of Cleburne... Peoples National Bank of Tyler Lamesa National Bank, Lamesa Total (11 banks) $100,000 100,000 50,000 ...•- 690,000 WASHINGTON 13057 13091 13099 First National Bank of Gig Harbor American National Bank of Aberdeen 25,000 400,000 100,000 First National Bank in Centralia Total (3 banks) 525,000 _ 43, 570,000 Total United States (135 banks) _. TABLE N O . 17.—National banks chartered which are conversions of State banks during the year ended October SI, 1927 Charter No. 13005 13011 Title and location State The Waynesboro National Bank and Pa. Trust Co., Waynesboro. The Citizens National Bank of Seward.. Pa. 13023 The Second National Bank of Paintsville. 13024 The Union National Bank of Elizabethtown. 13025 The Discount National Bank of New York.i 13033 The Union National Bank of Neodesha. _ 13040 The County National Bank of Scranton. 13044 Bank of Italy National Trust and Savings Association,2 San Francisco. 13051 The Greenwich National Bank of the City of New York.3 13061 The First National Bank of Ree Heights. 13066 The Fourth Northwestern National Bank of Minneapolis. 13067 The Teague National Bank, Teague 13068 The Citizens and Southern National Bank,4 Savannah. 13076 The Thomas County National Bank of Colby. 13078 The Pioneer National Bank of Duluth.__ 13079 The First National Bank of Fallbrook. __ 13084 The Union National Bank of New Kensington. 13097 The Merchants National Bank of Mobile. 13098 The West Side National Bank of Denver. 13099 First National Bank in Centralia 13102 The First National Bank of Mount Dora 13101 The First National Bank of Osmond 13106 The Exchange National Bank of Hutchinson. 13108 The Central National Bank of Minneapolis. 13110 The Peoples National Bank of Tyler 13114 The Columbia National Bank of Columbia Heights. 13122 Guardian National Bank of New York *_ 13128 The Hartford National Bank, Hartford._ 13131 The Midway National Bank of St. Paul. 13132 The Mutual National Bank of the City of New York. Total (30 banks). Date of Charter 1926 Nov. 13 ApproxisurAuthorized mate Approxiplus and capital undivided mate assets profits $200,000 $230, 572 $2,176,547 1 25,000 29,957 166,543 1927 Jan. 3 —do.... 75,000 50,000 41,112 10,823 686,995 342,558 1,000,000 652,773 10,670,894 Calif.. Mar. 1 50,000 500, 000 20,000,000 5,823 730,459 29, 247, 538 326, 558 8, 727, 760 674, 526,131 N.Y... Mar. 23 1,000,000 2, 657, 308 31, 884,572 S.Dak_ Apr. 15 Minn. Apr. 30 25,000 100, 000 18,119 84,413 290,442 3, 508,440 60,000 3, 000,000 28,545 3,098,017 658, 667 67,384,186 30,474 8,781 36,663 1,083,186 230, 510 470,080 I?::: Dec. N.Y.. Jan. 5 Kans._ Jan. 21 Pa_._. Feb. 15 Tex... M a y .._do 2 Kans. M a y 12 50, 000 M a y 19 M a y 20 June 3 100, 000 25,000 100,000 Ala.. Colo. Wash Fla.. Nebr_. Kans.. June July do July July July 6 11 25 500, 000 100, 000 100, 000 100,000 25,000 150, 000 715, 13, 24, 62, 48, 92, 511 031 887 880 032 245 14,437, 692 867, 209 715, 942 709,183 404, 224 2, 059, 770 Minn. July 27 100,000 111, 903 1,947, 544 Tex... July 30 Minn. Aug. 15 N.Y.. Sep. 21 Ala... Oct. 6 Minn. Oct. 10 N.Y.. Oct. 22 100,000 25,000 49, 820 8,178 1, 289, 896 271, 069 100, 000 50,000 100,000 500.000 81,763 21, 869 61, 212 1,041, 432 2, 564,918 191, 702 1,948,105 18, 251, 722 28,310, 000 39, 262, 629 849, 381,890 30 1 1 With 2 branches located in the city and county of New York. 2 With 277 branches located in California, 26 of which are in San Franesico. 3 With 10 branches located in the city and county of New York. * With 9 branches located in Georgia, one of which is in Savannah. Post office 1600 Sheepshead Bay Road, Brooklyn, N . Y. Digitized for •FRASER 588,845 Minn Calif. REPORT OF THE COMPTROLLER OF THE CURRENCY 223 TABLE NO. 18.—National banks, by States and geographical divisions, organized, failed, and reported in voluntary liquidation during the year ended October 31, 1927 Organized States Num- Authorized Number capital ber 1 2 Massachusetts Connecticut Total New England States New York New Jersey Pennsylvania District of Columbia Total Eastern States.. Virginia West Virginia North Carolina South Carolina Georgia _. Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky Tennessee Total Southern States. Ohio Indiana Illinois Michigan Wisconsin Minnesota Iowa Missouri _. 3 600,000 7, 750, 000 2,280,000 2,150, 000 56 12,180, 000 1 3 2 3,000,000 300,000 550,000 11 690,000 2 3 125,000 655, 000 22 5,320, 000 Total Middle Western States l $358, 642 6 1 750,000 200, 000 9,375, 822 1 171,245 8 1,250, 000 9, 905, 709 2 1 150,000 50,000 2,884,446 1 1 1 100, 000 25,000 25,000 1, 559, 708 160, 618 98,660 10 5 812, 000 2 5, 519, 851 460,000 4,180, 737 $1,000,000 $10,361,285 1,000,000 10,361,285 5 5 11 9,300, 000 289,406,462 2,125, 000 42,437,958 2, 300, 000 31,354, 596 21 13, 725, 000 363,199,016 5 1 2 3 200, 000 50,000 200, 000 260, 000 2,241,634 309,918 1, 919,646 1,612,859 2 1 1 14 250, 000 50,000 2,397,055 333,862 50,000 1,445,000 252,309 9,38Q 898 1,622, 000 14,404,020 29 2, 505,000 18,448,181 325,000 2,672, 442 350,000 3 2,390,618 150, 000 1,128,151 754, 824 50,000 193, 585 25,000 4 7,036, 720 650, 000 1,975, 000 516,465, 748 579, 982 95,000 3 8 6 2 5,025, 000 665, 000 890, 000 2,050, 000 74,174, 647 6,046,040 15, 736,644 23,500,208 8 6 375,666 405, 000 4,119,473 5,320,229 3, 620, 000 31, 222, 070 33 9,410, 000 128, 897,241 275,000 50,000 880, 000 75, 000 55, 000 140, 000 110, 000 50,000 720, 000 2,693,619 497,159 9,021,118 725, 801 284, 652 1, 404, 606 1,152,402 225,269 5,952, 664 1,870,000 68 2 1 3 3 75,000 25,000 475, 000 250,000 8 5 6 1 100,000 3 200,000 8 225, 000 2,186, 221 7 2 8 2 2 2 3 2 14 13 1,125,000 28 1,240, 000 10,901,399 42 2, 355, 000 21, 957,290 525, 000 3 100, 000 1 14 21, 850, 000 1 1 5 3 25, 000 100, 000 275, 000 125,000 2 34 2 2,025, 000 6,300, 000 175,000 21, 645, 075 58,286,484 2, 533,299 8, 500, 000 82,464,858 1 310, 000 6 2,480,211 225,000 2, 539, 917 455,000 < 3,634,470 25,000 60, 580 110, 057 1,444, 845 2, 579, 017 8 510, 571 Total Pacific States... 18 22,475, 000 10 525, 000 4, 644, 490 38 Total United States... 135 43, 570, 000 135 8,257, 000 71, 077, 688 165 1 3 Gross assets 2 5 4 1 1 18 35 2 23 . 0) Capital 21 980,666 300, 000 Total Western States, Washington Oregon California Idaho $300,000 12 6 North Dakota . South Dakota Nebraska Kansas Montana Wyoming Colorado . _ New Mexico Oklahoma Number 2 1 90, 000 400, 000 100, 000 . . . Assets 2 2 2 1 i Capital $200,000 400, 000 25 13 18 _ Voluntary liquidations Failed 37, 495, 000 625, 327,871 Was in voluntary liquidation. Includes 1 bank with capital of $35,000 and gross assets of $524,180 restored to solvency. 3 Includes 1 bank with capital of $75,000 and assets aggregating $96,988 previously reported in voluntary liquidation. * Includes 1 bank with capital of $50,000 and assets aggregating $103,649 previously reported in voluntary liquidation. 5 Includes 1 bank with capital of $25,000 and assets aggregating $25,289 previously reported in voluntary liquidation, and 1 with capital of $50,000 and gross assets of $416,795 restored to solvency. «Includes 1 bank with capital of $50,000 and assets aggregating $97,947 previously reported in voluntary liquidation, and 1 with capital of $25,000 and gross assets of $308,675 restored to solvency. 7 Includes 2 banks with capital of $100,000 and $50,000, respectively, previously reported in voluntary liquidation. 8 Includes 1 bank with capital of $75,000 and gross assets of $210,705 restored to solvency. 224 KEPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 19.—Number and classification of national banks chartered monthly during the year ended October 81, 1927 Conversions Months Number November. December. _ January Capital Reorganizations Number Capital Primary organizations Number Capital $75,000 February. _ March April May June July August September. October $200,000 25,000 1,175,000 500,000 21,000,000 125,000 3,235,000 600,000 675,000 25,000 100,000 650,000 60,000 100,000 200,000 $800,000 1,500,000 1,525,000 1,125,000 3,095,000 1,145,000 775,000 1,545,000 1,090,000 200,000 1,250,000 475,000 Total 30 28,310,000 735,000 97 14,525,000 50,000 50,000 100,000 100,000 Total Number Capital $1,075,000 1,525,000 2,750,000 1,675,000 24,095,000 1,270,000 4,110,0C0 2,245,000 1,765,000 285,000 1,450,000 1,325,000 135 43,570,000 TABLE N O . 20.— United States bonds on deposit to secure circulating notes of national banks in years ended October 31, 1900 to 1927 United States bonds held as security for circulation NumYear ber of 2 per cent consols 4 p e r ^ ^ b o n d g 3 p e r c e n t b o n d s 5 p e r c e n t b o n d g banks 1900— 3,871 $1,019,950 Consols of 1930, 270,006,600 1901- 12,500 4,221 11 Consols of 1930, 316,625,650 1902- 4,601 320,738,000 1903— 5,147 376,003,300 1904— 5,495 416,972,750 1905-. 5,858 483,181,900 1906... 6,225 492,170,650 1907-. 6,620 532,543,550 6,873 554, 700,700 1909— 7,025 573,328,450 1910. 1911. 1912. 1913. 1914. 1915. 1916. 1917. 1918. 1919. 1920. 1921. 1922. 1923. 1924. 1925. 1926. 1927. 580,145,400 593,006,600 601,762,600 604,264,950 606,622,300 600,678,600 567,690,250 555,514,950 561,848,600 565,094,950 570,372,500 576,522,950 581,493,950 586,801,800 589,086,200 591,792,150 591,139,900 592, 582,450 1908- 7,218 7,331 7,428 7,514 7,578 7,632 7,608 7,671 7,765 7,900 8,157 8,179 8,262 8,264 8,098 8,118 8,008 7,832 Total (Consols of 1907, of 1898, 3 Loan of 1904, 5 $13,544,100 }Loan per cent, $301,123,580 per cent, Loan of 1895, $1,293,000 $7, 756,580 7,503,350 Consols of 1907, I 6,032,000 329,833,930 3,983,780 268,900 I Loan of 1895, [ 2,911,100 Consols of 1907, I 8,248,450 6,056,720 1,100,900 338,352,670 I Loan of 1895, [ 2,208,600 [Consols of 1907, I 2,979,200 1,797,580 718,660 382,726,830 I Loans of 1895, 1,410,100 Consols of 1907, 5,857,500 426,544,790 1,922,940 Loan of 1895, 1,791,600 Consols of 1907, 4,050,350 493,912,790 2,215,540 Loan of 1895. 4,465,000 Consols of 1907, [2 per cent Pan- 539,653,180 25,124,650 ama Canal, 3,273, 700 Loan of 1895, 14,482,080 4,602,100 /Loan of 1895, 17,245,380 567,011,910 6,490,080 10,732,900 38,558, 680 13, 936,500 14,960,450 10,468,520 Certificates of in- • 632,624,8*50 debtedness 3 per cent. per cent 1936 [4 per cent loan of 3 per cent 1908- 2 and 1938, Pan- • 679,545,740 1 1925. 1918, ama Canal, 15,463,050 14,575,560 76,178,680 21,022,650 78,420,480 694,926,070 15,337,540 22,854,300 80,110,040 714,170,320 18,199,380 26,817,000 81,258,460 730,257,280 20,419,220 35,302, 700 81,701,240 743,513,990 22,245,100 34,699,300 81,971,820 744,740,600 21,447,180 32,304, 800 81,614,420 734, 975,540 20,377,720 26,214, 400 78,068,660 687,957,990 15,984,680 34, 743, 900 71,466,140 679,440,210 17, 715,220 50,240,800 72,324,800 684,446,440 32,240 58,055,050 72,672,060 695,822,060 68,578,000 73,116,000 712,066,500 77,257,400 73,732,140 727,512,490 82,509,900 73,656,840 737,660,690 85,823,150 73,937,380 746,562,330 76,687,050 74,069,640 739,842,890 74,392,980 666,185,130 74,352,980 665,492,880 74,290,840 666,873,290 225 REPORT OP THE COMPTROLLER OF THE CURRENCY TABLE NO. 21.— United States bonds (circulation)—Monthly range of prices in New York, November, 1926, to October, 1927, inclusive Registered bonds Coupon bonds, 2's of 1930 Date Panama 2's of 1916-1936 1926 November: Opening Highest Lowest Closing December: Opening Highest.... Lowest Closing January: Opening Highest.. Lowest.. Closing February: Opening Highest Lowest Closing March: Opening Highest Lowest Closing April: Opening Highest... Lowest Closing,-.. May: Opening Highest Lowest Closing June: Opening Highest Lowest Closing July: Opening Highest Lowest Closing Aguust: Opening Highest Lowest Closing September: Opening Highest Lowest Closing... October: Opening Highest Lowest Closing 2's of 1930 Not quoteddo do.. do _ ..do.. ..do... .do... .do.. _ _ __. 1927 _ ..do., .do— .do— .do... -_ _-. _ - ..do...do... .do— .do— — _ - -_ _ — -do_-do... -do... -do— 101^@102 101^@102H 101H@102 101^@102H _ -do., .do— .do... .do... .do., .do— .do... .do... -do__ -do... -do... _do.. __ _ 99^@100 100 @101 99M@100 100 @101 ..do. _do_. .do.. _do_. _ -__ _ _ ___ _. _. .do. _do. _do_do__ .do., .do.do.. .do.. .do... -do... 100 @100% 100 ©101 100 ©100M 100 ©101 TABLE N O . 22.—National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 31, each year 1915 to 1927 [For prior years see annual report 1920] Ones Twos 23,169, 677 22, 827, 374 342, 303 23,169, 677 22, 827, 540 342,137 23,169, 677 22, 827, 605 342,072 23,169, 677 22,827, 605 342, 072 23,169, 677 22, 827, 605 342,072 23,169, 677 22.827, 771 341, 906 23,169, 677 22, 827,833 341, 844 23,169, 677 22, 827, 833 341,844 23,169, 677 22, 827, 833 341,844 23,169, 677 22.828, 230 341, 447 23,169, 677 22,828,230 341, 447 23,169,677 22,828, 230 341, 447 23,169, 677 22,828, 230 341, 447 15, 495, 038 15, 331, 486 163, 552 15, 495, 038 15,331, 570 163,468 15, 495, 038 15, 331, 646 163, 392 15, 495, 038 15, 331, 646 163, 392 15, 495, 038 15, 331, 646 163,392 15, 495, 038 15, 331, 750 163,288 15, 495, 038 15, 331, 848 163,190 15,495,038 15, 331, 848 163,190 15, 495, 038 15, 331, 848 163,190 15, 495,038 15, 332,144 162,894 15, 495,038 15,332,144 162, 894 15, 495, 038 15, 332,144 162, 894 15, 495,038 15, 332,144 162, 894 Year Issued Redeemed. _. Outstanding _ Issued Redeemed Outstanding. Issued. Redeemed.._ Outstanding. Issued Redeemed... Outstanding. Issued Redeemed... Outstanding . Issued Redeemed-_. Outstanding . Issued-. Redeemed... Outstanding . Issued Redeemed... Outstanding. Issued Redeemed Outstanding . Issued Redeemed Outstanding. Issued Redeemed Outstanding. Issued Redeemed.. _ Outstanding. Issued Redeemed Outstanding- 1,953, 573, 660 1, 827, 511, 370 126,062, 290 2,031, 826,880 1, 919, 643,440 112,183, 410 2,108,123, 060 1, 998, 613, 640 109, 509,420 2,180, 457, 660 2, 062, 530,045 117, 927, 615 2,277,156, 200 2,134, 883,895 142,272, 305 2, 383, 521, 060 2,257, 861, 600 125,659, 460 2, 530,964, 740 2, 399,196, 590 131, 768,150 2, 685,116,700 2, 544,935,255 140,181,445 2, 839, 923, 800 2, 692,170,185 147, 753, 615 2, 986,182, 620 2,836, 525, 360 149, 657, 260 3,116, 207,920 2, 982,116,315 134,091,605 3, 257,207, 400 3,116, 801, 545 140, 405, 855 3, 400, 781, 360 3, 255,076, 040 145, 705, 320 NOTE 1.—First issue Dec. 21,1863; first redemption Apr. 5,1865. Tens Twenties Fifties One hundreds Five hundreds One thousands 3, 068, 708, 690 2, 732, 775,070 335, 933, 620 3,235,914, 290 2,926, 062, 500 309, 851, 790 3, 385, 973, 520 3,086, 402,180 299, 571,340 3, 499,038, 440 3, 208,165, 630 290,872, 810 3, 652,918,890 3,370,458,290 282,460,600 3, 863, 905,000 3, 558, 475,410 305,429, 590 4,141, 546,970 3,826,073, 620 315,473, 350 4, 395,016, 970 4,072,078, 350 322,938, 620 4, 647, 494, 460 4,323,779,650 323, 714,810 4,894,019, 390 4, 568, 745,090 325, 274, 300 5,114,836, 580 4, 815,862,380 298, 974, 200 5, 340, 485,100 5,049,077,890 291, 407,210 5, 561,933,120 5, 275,212, 710 286,720, 410 1, 800,204,940 1, 555,221,880 244, 983,060 1, 895,074,220 1, 657, 346, 840 237, 727, 380 1, 980, 572,240 1,738, 203,080 242, 369,160 2,046, 661, 760 1, 798,100, 720 248, 561,040 2,134, 771, 820 1,900, 338, 700 234, 433,120 2,256,235, 520 2,012, 790, 440 243, 445,080 2, 415,643, 670 2,173, 273,160 242, 370, 510 2, 561,245, 350 2, 312,253, 700 248, 991, 650 2, 705, 631, 630 2, 456, 824, 520 248,807,110 2,847,074, 790 2, 599,117,260 247,957, 530 2,975, 540, 250 2, 743,128, 860 232, 411, 390 3,105, 239, 610 2,880, 562, 880 224, 676, 730 3,229,043,170 3,003, 520, 200 225, 522,970 278, 464, 450 247,251, 800 31,212, 650 287, 566, 300 257,870,000 29, 696, 300 295, 589, 900 265,712, 200 29, 877, 700 300, 579, 200 270, 694, 800 29,884,400 311,156,350 280,299,900 30, 856, 450 321, 370,450 291, 508, 450 29,862, 000 332, 564, 950 304,103,200 28, 461, 750 342, 216,050 315,487, 700 26, 728, 350 353,112, 650 325,072,850 28,039, 800 362, 802, 750 335,219,000 27, 583,750 370, 484, 550 345, 017,800 25, 466, 750 378, 354, 750 354, 890,850 23, 463, 900 388, 738, 350 363, 835, 500 24, 902, 850 411, 536, 200 369,129, 900 42, 406, 300 418, 407,000 381, 368, 900 37, 038,100 424,100, 400 389,040, 200 35, 060,200 427, 777, 200 393, 559, 500 34,217, 700 435,249,100 402, 042, 300 33,206, 800 442,267,100 411,724, 400 30, 542, 700 449, 880, 500 421, 019, 300 28,861,200 456, 449,900 429, 753,200 26, 696, 700 463, 738, 500 436,442, 500 27,296, 000 470, 320, 400 443, 579,000 26,741, 400 475, 441, 600 450,454,100 24,987, 500 480, 688, 400 457, 586,000 23,102, 400 487, 610, 800 464,120, 600 23, 490, 200 12, 289, 500 12, 201, 000 88,500 12, 289, 500 12, 201, 500 88,000 12, 289, 500 12, 201, 500 88,000 12, 289, 500 12,201, 500 88,000 12, 289, 500 12.201, 500 88, 000 12, 289, 500 12.202, 000 87,500 12, 289, 500 12,202, 000 87, 500 12, 289, 500 12, 202, 000 87, 500 12, 289, 500 12, 202, 000 87, 500 12, 289, 500 12,202, 000 87,500 12,289, 500 12, 202, 000 87, 500 12, 289, 500 12, 202,000 87,500 12, 289, 500 12, 202, 000 87, 500 7, 454, 000 7, 432, 000 22,000 7, 454, 000 7, 432, 000 22, 000 7, 454, 000 7, 433,000 21,000 7, 454, 000 7, 433, 000 21,000 7, 454, 000 7, 433, 000 21,000 7, 454, 000 7, 433, 000 21,000 7, 454,000 7, 433,000 21,000 7, 454, 000 7, 433, 000 21,000 7, 454, 000 7,433, 000 21, 000 7, 454,000 7, 433,000 21, 000 7, 454,000 7, 433, 000 21,000 7, 454,000 7, 433,000 21, 000 7, 454,000 7,433,000 21,000 NOTE 2.—Gold notes included since 1915. to to OS Total Issued during current year 7, 570,896,155 364,049,710 6,789,681,880 781,214,275 7, 927,196, 905 356, 300, 750 7, 200, 084, 290 727,112, 615 8,252, 767, 335 325,"576,"430 7, 535,765,051 717, 002, 284 8, 512,922, 475 260,155,140 7,790,844, 446 722,078, 029 8,869, 660, 575 '356,~738~I66 8,145,816, 836 723,843,739 9,325,707, 345 456,046,770 8, 590,154,821 735, 552, 524 9,929,009, 045 603,361,700 9,181,460, 551 747, 548,494 10,498,453,185 569, 444,140 9, 732, 302, 886 766,150, 299 11,068,309, 255 569,856,070 10, 292,084, 386 776,224,869 11, 618,808,165 '556,~498,~9l6 10,840,981,084 777,827,081 12,110, 919,115 492,110,950 11, 394, 374,829 716, 544,286 12, 620,383,475 509,464,360 11, 916, 714, 539 703, 668,936 13,126, 515, 015 566,~m,~540 12,419, 560,424 706,954, 591 NOTE 3.—Fractions and nonassorted notes not included. REPORT OF THE COMPTROLLER OP THE CURRENCY 227 TABLE NO. 23.—National-bank currency issued to banks monthly from November 1, 1926, to October 81, 1927, and since 1868 Issued on account of redemptions Issued on bonds Total issued Grand total issued since 1863 1926 November December $38, 524,000 39, 585,140 $1,960,000 1,194,600 $40,484,000 $12,660,867,475 40, 779, 740 12, 701, 647, 215 1927 January February. _ March April May June July August September October Total 43,232, 750 40,028, 630 40, 663,950 36, 624, 660 36,403, 750 33,811, 430 40,174, 540 42, 603, 320 37, 788, 710 46, 446, 610 1, 675, 630 3, 441,150 2, 877,140 3,490, 680 6, 901, 380 1, 908,000 3,137, 990 684,190 1,339, 740 1, 633, 550 44, 908, 380 43, 469, 780 43, 541,090 40,115,340 43, 305,130 35, 719,430 43,312, 530 43,287, 510 39,128,4,50 48,080,160 475, 887, 490 30, 244,, 050 506,131, 540 12, 746,555,595 12,790,025,375 12,833, 566,465 12, 873,681,805 12,916,986,935 12,952, 706, 365 12,996,018,895 13,039,306,405 13,078,434, 855 13,126,515,015 TABLE NO. 24.—National-bank notes received monthly for redemption during year ended October 81, 1927 1 Received by the Comptroller of the Currency Months From national banks in connection with reduction of circulation and replacement with new notes From the redemption agency Total For replacement with new notes Retirement account 1926 November.. December.. $1,200 310 $38,343,520 41,411,937 5,000 97,400 600 5,260 3,450 1,100 10,200 8,265 2,000 5,900 44,868,860 38,892, 580 38, 728,183 36, 507, 945 36,542,010 35,432, 270 40, 756,710 40,653,110 38, 569,085 46,081,127 $2,161,225 2,292,150 $40,505,945 43, 704, 397 1927 January February. _ March April May June July._ August September. October Total Keceived from June 20, 1874, to Oct. 31,1926 _. Grand total 1 \ 47,454, 760 41,499,905 40,807, 548 38, 727,070 38,684, 430 37, 507,100 42,940, 760 43,005,755 40,648, 630 48,367,027 140,685 476, 787,337 26, 925,305 503,853,327 58,594,730 10,010,507,158 1,687,358,107 11,756,459,996 58,735,415 10,487,294,495 1, 714,283,412 12,260, 313,323 Notes of gold banks not included in this table. 2, 580,900 2, 509, 925 2,078,765 2, 213, 865 2,138, 970 2,073, 730 2,173, 850 2,344, 380 2,077, 545 2, 280,000 228 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 25.—National-bank notes received at currency bureau and destroyed yearly since establishment of the system Amount Date Prior to Nov 1,1865 During the year ended Oct. 31— 1866 1867 1868 1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 $175,490 --- - - - - - - 1,050,382 3,401,423 4,602, 825 8,603, 729 14, 305, 689 24,344,047 30, 211, 720 36,433,171 49, 939, 741 137, 697, 696 98, 672,716 76,918,963 57,381, 249 41,101, 830 35, 539, 660 54,941,130 74,917, 611 82,913,766 93,178,418 91,048,723 59,989,810 47,726,083 59, 568, 525 52,207, 627 44,447,467 45,981,963 43,885, 319 44,895, 466 62,835. 395 46,997, 527 53, 613, 811 83,159, 973 66,683, 467 59, 988, 303 Date Amount During the year ended Oct. 31—Con. 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 _ _ 1910 1911 1912 1913 1914 1915 1916 1917 1918 „ 1919 1920 1921 1922 1923 1924 . „ 1925 1926 1927 _. _ _ _. _ . Additional amount of insolvent and liquidating national-bank notes destroyed Gold notes Grand total $71,065,968 90,848,100 107,222,495 140,306,990 167,118,135 195,194,785 191,102,985 197,932,847 231,128,140 348,159,995 359,496,000 409,835,965 428,399,608 426,282,840 435,904,280 362,551,125 351,717,477 298,468,107 238,184, 520 330,106,555 424, 542,837 570,887,902 537,153, 570 542,194, 707 522, 241,817 470,146,975 487, 254,340 475,920, 522 1,725,001, 740 3, 390, 560 12,419,791, 505 In addition $46,115 destroyed in transit. TABLE N O . 26.—National-bank notes issued during each year 1914 to 1927, na- tional-bank notes of active, insolvent, and liquidated banks destroyed, total destructions for each year, and percentage of destructions to issues [For prior years, see annual report 1920] Destroyed Year ended Oct. 31— 1914 1915 1916 1917. 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 Issued $818, 227, 830 364V 049, 710 356, 300, 750 325, 570,430 260,155,140 356, 738,100 456,046,770 603,301, 700 569,444,140 569,856,070 550.498, 910 492,110,950 509,464,360 506,131,540 Insolvent Active banks and liquidated banks $435,904, 280 362, 551,125 351, 374, 597 298,468,107 236, 296, ()60 330,106, 555 4 2 1 542, 837 570,887, 902 537,153, 570 542,194, 707 522, 241, 817 470, 950, 865 487,254, 340 475,920, 523 $20,246,418 342, 807, 352 59,026, 804 38,901,595 20, 238, 717 24,864, 635 19, 794, 540 20,417,025 13, 688, 630 17, 586, 750 26, 654, 568 82,442, 855 35,085,342 26,925,355 Total $456,150, 698 705, 358, 657 410,401,401 337, 369, 702 256, 535,377 354, 971,190 444,337, 377 591,304,927 550, 842,200 559, 781, 457 548,896,385 553,393, 720 522,339, 682 502,845,878 Total outstanding $1,121,468,911 781, 268, 793 726, 069, 290 716, 276,375 721, 471,137 722,394,325 732, 549, 629 743, 288,847 760, 679,187 772, 606,269 774, 281, 624 713,802,744 700, 714, 532 702,992,694 Per cent destructions active banks to issues 53.27 99.59 98.62 91.68 90.83 92.53 93.09 94.62 94.33 95.14 94.86 95.70 95.64 94.03 Per cent destructions to issues 55.75 193. 75 115.18 103.62 98.61 99.50 97.43 98.01 96.73 98.23 99.73 112.45 102. 52 99.35 229 REPOET OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 27.—Amount, denomination, and cost of national-bank currency received from Bureau of Engraving and Printing, year ended October 31, 1927 Denominations Cost of Cost of paper printing, etc. Amount Total cost 5, 5, 5, 5 10,10, 10, 10.. 10, 10, 10, 2050, 50, 50, 100. $146,469, 780 35, 637,480 316, 207, 650 19, 008, 250 $50, 532. 07 6,147. 46 43, 636. 66 524. 63 $347, 279. 85 42, 248. 23 299, 891. 34 3, 605. 48 $397, 811. 92 Total.. 517,323,160 100,840. 82 Q, 024. 90 793,865. 72 343, 528. 00 4,130.11 TABLE N O . 28.—Vault account of currency received and issued by currency bureau during the year and the amount on hand October 81, 1927 National-bank currency in vaults at the close of business, Oct. 31,1926_ _ __. $198,641,960 National-bank currency received from Bureau of Engraving and Printing during the year ended Oct. 31, 1927 517,323,160 Total to be accounted for..._ Amount issued to banks during year Amount withdrawn from vaults and canceled $506,131,540 7,379,840 Total withdrawn 715,965,120 513,511,380 Amount in vaults at close of business, Oct. 31,1927 202,453,740 TABLE N O . 29.—Vault account of currency received and destroyed during ended October 31, 1927 year Amount in vault of redemption of currency bureau awaiting destruction at close of business Oct. 31, 1926 $3,015,550.00 Amount received during year ended Oct. 31,1927 503,853,327.50 Total Withdrawn and destroyed during the year Balance in vault Oct. 31, 1927 506,868,877.50 502,845,827.50 4,023,050.00 TABLE N O . 30.—Amount of currency received for redemption, by months, from July 1, 1926, to June 30, 1927, and counted into the cash of the National Bank Redemption Agency National-bank notes Federal reserve United States reserve bank Federal currency notes notes 1926 July.— August September.. October November.. December.. January _ February.. March April May June.. $42, 980, 390. 00 41, 532, 673. 00 43, 641, 516. 00 44,105, 598. 50 40, 631, 292. 00 42, 549, 242. 50 $126,319. 00 83, 298. 00 80, 732. 00 89, 720. 00 73,912. 00 107, 836. 00 $1, 633, 575. 00 1, 549,390. 00 1,638, 570. 00 1,869, 230. 00 Total $9,230. 58 21, 077. 81 9,961. 79 16,120. 09 10, 600. 47 17, 202. 22 $44, 749,514. 58 43,186,438.81 45,370, 779. 79 46, 080, 668. 59 42, 005, 284. 47 44,048, 585. 72 1, 378,430. 00 19,606. 32 9,960. 50 13,314. 01 15, 693. 26 12,357. 91 14,136. 61 51,771,761.32 37, 581,347. 50 43, 810,497. 01 39, 521,059. 26 41, 249, 554. 91 43, 220, 774. 61 17, 828, 962. 50 >9, 261. 57 522, 596, 266. 57 1,289,480. 00 1,374,305. 00 1927 Total 50, 36, 42, 37, 39, 41, 062, 054. 00 277, 819. 00 371, 505. 50 937,134. 00 813, 648. 00 778, 097. 00 65, 686. 00 48, 278. 00 60, 245. 00 62, 737. 00 68,199. 00 50, 111. 00 503,680,969.50 917,073. 00 1,624,415. 00 1,245, 290. 00 1,365,432. 50 1,505,495. 00 1,355,350. 00 230 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 31.—Amount of currency received by National Bank Redemption Agency for redemption in year ended June 80, 1927, from principal cities $8,848,000.00 Boston $34,308,820.00 Kansas City 15, 059, 600. 00 New York.._ 101, 749, 200. 00 Dallas 15,876,600.00 Philadelphia 43,438,241.50 San Francisco. 12,618,500.00 Cleveland _._ 22, 318, 900. 00 Cincinnati. Richmond_ ._ 24,984,100.00 Baltimore 7,796,100.00 6,894,900.00 Atlanta 12,869,500.00 New Orleans 138, 688,643. 59 Chicago 50,400,154.50 Other sources_.__ St. Louis 16,787,329.00 Minneapolis 9,987,650.00 Total 522,626,238.59 NOTE.—The difference of $29,972.02 between the totals shown by this table and Table No. 30, represents the net adjustments for overs, shorts, and spurious issues found in remittances received. The total amount of currency of ail issues received by the National Bank Redemption Agency and counted into cash from June 30, 1874, to June 30, 1927, exclusive of deductions for shortages and spurious issues, is $17,008,959,819.87. TABLE NO. 32.—Cost of redemption of national bank notes during the year ended June 30, 1927 Amount of expenses Office Office Treasurer Comptroller U.S.(N.B.R.A.) of Currency Redeemed out of 5 per cent fund, unfit for use: Salaries Printing, binding, and stationery Contingent expenses .__ Express charges Insurance Postage Total Redeemed on retirement account: Salaries Printing, binding, and stationery Contingent expenses.. Express charges Insurance Postage $244,463.19 3,622. 73 3,313. 81 416. 67 21, 262. 20 11, 754. 55 162,973. 45 447, 806.60 .-. 13,993. 62 207. 37 189.69 23.85 1,217.10 672. 86 3,194. 33 75.54 30.46 17,187. 95 282. 91 220.15 23.85 1,217.10 672. 86 _ 301,137.64 16,304. 49 Amount redeemed Redeemed out 5 per cent fund, unfit for useRedeemed on retirement account Total - $55, 803. 77 $300,266.96 1,319. 73 4, 942. 46 532.09 3,845. 90 416.67 21, 565. 09 42,827.29 83, 752. 77 95,507. 32 284, 833.15 Total Aggregate-- Total 3,300.33 19,604.82 166.273.78 467,411. 42 Rate per $1,000 Amount of expenses $475,227, 847. 50 $0.94229873 $447, 806.60 27,203,100. 00 19,604. 82 . 72068323 502, 430,947. 50 467,411. 42 REPORT OP THE COMPTROLLER OF THE CURRENCY 231 TABLE NO. 33.—Classification of Federal reserve currency redemption, the amount redeemed, number of notes, cost of redemption per 1,000 notes, and amount assessed upon Federal reserve banks, year e?ided June 30, 1927 Office Treasurer U. S. (N. B. R. A.) Federal reserve notes: Received from sources other than Federal reserve banks— Salaries Printing, binding, and stationery Contingent expenses . Total Received direct from Federal reserve banks and branches, canceled and c u t Salaries _ Printing, binding, and stationery Contingent expenses.. Total Federal reserve bank notes: Received from all sourcesSalaries. Printing, binding, and stationery.. Contingent expenses Express charges Insurance _. Postage - Total.. Total amounts assessed against Federal reserve issues Total 71284°—28 16 $17,955,605. 00 1,370,635,100. 00 Total $1,311.30 19.43 17.78 $1,311.30 19.43 17.78 1,348. 51 1,348.51 51, 208. 95 355. 57 3,148. 64 51,208. 95 355. 57 3,148.64 54, 713.16 54, 713.16 356. 85 5.29 4.84 .62 35.83 91.05 $2,123. 58 1.98 .80 2,480. 43 7.27 5.64 .62 35.83 91.05 494. 48 2,126.36 2,620. 84 56, 556.15 2,126. 36 58,682. 51 Number of Federal reserve notes: Received from sources other than Federal reserve banks and branches Received direct from Federal reserve banks and branches, canceled and cut Federal reserve bank notes: Received from all sources, including Federal reserve banks and branches Office Comptroller of Currency Rate per j Assess1,000 notes j ment 1,766,874 $0. 76321743 152,616,684 . 35850051 858,910.00 480,835 5. 45060155 1,389,449,615.00 154, 864,393 .37892836 j $1,348. 51 54,713.16 2,620. 84 58,682.51 232 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 34.—Taxes assessed on national-bank circulation, years ended June 30, 1864, to 1927; cost of redemption, 1874 to 1927; and assessments for cost of plates, etc., 1888 to 1927 Year 1864-1882. 1874-1882. 1883 1884 1885 1887.. 1888_ 1889.. 1890.. 1891.. 1892.. 1895.. 1896.. 1897.. 1898.. 1899.. 1900.. 1901.. 1902_ 1903.. 1904_. 1905.. 1906.. 1907.. 1908.. 1909. 1910. 1911.. 1912.. 1913.. 1914.. 1915.. 1916.. 1917_ 1918.. 1919.. 1920.. 1921 .. 1922.. 1923.. 1924.. 1925. 1926.. 1927.. Semiannual duty on circulation Cost of redemption of notes by the United States Treasurer Assessment for cost of plates, new banks ment for cost of plates, extended banks ment for cost of plates, additional or duplicate $52,253, 518.24 $1,971,587.10 147,592.27 3,024,668.24 160,896.65 2,794, 584.01 181,857.16 2,592,021.33 168,243.35 2,044,922. 75 138,967.00 1,616,127.53 141,141.48 1,410,331.84 131,190.67 1,254,839.65 107.843.39 1,216,104.72 99,366.52 1,331,287.26 100,593. 70 1,443,489.69 103,032.96 1,721,095.18 107,445.14 1,704,007.69 100,352.79 1,851,676.03 114,085.63 2,020,703.65 125,061.73 1,901,817.71 125,924. 35 1,991,743. 31 121.291.40 1, 881,922. 73 122,984. 76 1,599,221.08 146,236.18 1,633,309.15 153,796. 33 1,708,819.92 174,477. 62 1,928,827.49 219,093.13 2,163,882.05 247,973. 26 2,509,997. 80 250,924.24 2,806,070.54 233, 650.52 3,090,811.72 270,840.21 3,190,543.04 396, 743.15 3,463,466.68 434.093.10 3,567,037.21 443, 380.12 3, 690,313. 53 505, 735.21 3,804,762.29 517, 842.93 3,889.733.17 529,013. 36 r i 3,90i; 541.18 I 2,977,066.73 [ 498,328. 60 3,744,967.77 450,150.22 3,533, 631.28 420,160.42 3,656,895.34 412, 785.92 3,627,060.80 528,424. 24 3, 706,901.15 974.058.11 3,806,590.02 1,115,146.00 3,941,461.17 2 594,168. 70 4,030,336.30 514,598. 55 4,063,708.32 527.979.90 3,661,819.45 459, 790.43 3,277,512.90 494.470.91 3,253,461.97 467,411.42 ""3,~l32\~666.~73* T o t a l . . . . 177,416,618.34 16,250,730.83 $25,980 18,845 13,150 14,810 18,850 14,100 12,200 24,175 18,575 15,700 14,225 4,050 4,950 5,450 3,050 5,275 8,200 29,200 85,975 43,200 54,475 45, 500 47,825 54,150 76,275 48,450 31,475 55,125 27,875 22,740 28,560 11,560 16,660 10,085 9,200 16, 770 15,600 31,850 31,070 18,244 23,464 18,756 12,682 22,948 21,106 1,132,405 $34,120 1,950 97,800 24,825 1,750 3,900 575 725 7,200 8,100 5,200 4,375 6,875 3,750 1,700 1,775 2,850 15,050 13,500 14,425 40,325 12,600 64,800 31,450 12,975 10,025 10,800 17,500 22,375 28,190 19, 805 8,500 13,855 9,700 6,000 11,120 15,340 28,990 82,160 52, 780 5,850 3,556 4,456 763,597 $4,130 6,975 6,300 11,175 3,420 6,460 9,100 7,590 20,770 12, 670 17,226 25,262 31,388 4,404 30,564 30,188 227,622 ment for adding signatures to plates, etc. Total $52,253,518.24 1,971,58*7.10 3.339,699.00 3,206,359.89 3,087,391,17 2,799,899.68 2,204,489.75 1.775,269.01 1,554,297. 51 1,387,583.04 1,341,246.24 1,455,680.96 1,565,947.65 1,836,965.32 1,816,185.48 1,974,961.66 2,150,515.38 2,034,792.06 2,124,084.71 2,049,157.49 1,844,932.26 1,844,730.48 1,978,097.54 2,206,020.62 2,524,480.31 2,846,522.04 3,128,971.06 3,420,126.93 3,629,561.19 3,970,184.78 4,060,667.33 4,251,108. 74 4,377,945.22 4,445,106.53 7,418,626.51 4,218,322.99 3,975,451.70 4,106,671.26 4,194,015.04 4,762, 569.26 5,047,636.02 4.624,372.87 $493 4,600,351.85 841 4,646,161.22 773 591 4.143,742.88 3,827,105.81 1,610 3,773,183.39 1,016 5,324 195,796,297.17 1 Tax collected on additional circulation under act May 30,1908. 2 Average cost per $1,000 for national-bank notes redeemed in 1922, $0.95; in 1923, $0.95; in 1924, $0.96; in 1925, $0.83; in 1926, $0.94, and in 1927, $0.93. RBPOKT OF THE COMPTROLLER OF THE CURRENCY 233 TABLE N O . 35.—Federal reserve notes outstanding according to weekly statements {amount issued by Federal reserve agents to Federal reserve banks, less "unfit" notes redeemed), and collateral security therefor, from November 8, 1926, to October 26, 1927 [In thousands of dollars] Collateral security Date 1926 Nov. 3 Nov. 10 Nov. 17 Nov. 24.. Dec. 1 Dec. 8_ Dec 15... Dec. 22 Dec. 29 Jan. 5 Jan. 12 Jan. 19 Jan. 26 Feb. 2_. Feb. 9 Feb. 16... Feb. 23.... Mar. 2 Mar. 9. Mar. 16 Mar. 23 .Mar. 30 Apr. 6 Apr. 13.... Apr. 20.. Apr. 27... May 4 May 11 May 18. May 25. _ June 1 June 8 June 15 June 22 June 29.. July 6 July 13 July 20.. July 27.. Aug.3__ Aug. 10 Aug. 17_ Aug. 24_ Aug. 3 1 . . . Sept. 7 Sept. 14 Sept. 21. Sept. 28 Oct. 5 Oct. 12 Oct. 19 Oct. 26 1927 _. _ , Federal reserve notes outstanding Gold 2,060,346 2,083,912 2,087, 229 2,090, 773 2,115,402 2,157, 542 2,188,375 2,267,160 2,264,775 1,337,772 1,387,666 1,397,938 1,395,138 1,342,346 1,348,339 1,435,352 1,376,776 1,369,124 2,252,134 2,210,403 2,163,005 2,112,168 2,088,703 2,076,775 2,069,846 2,066,648 2,072,241 2,097, 755 2,092, 209 2,093,503 2,098,296 2,112, 502 2,125,546 2,136,367 2,119,018 2,110,072 2,101, 295 2,096,740 2,099,295 2,105, 774 2,107,085 2,086,717 2, 078,876 2,076,382 2,108,861 2,106,577 2,081,856 2,056,802 2,052,848 2,044,299 2,055,128 2,042,289 2,039,857 2,075,645 2,092,364 2,116, 568 2,111,962 2,102,419 2,105,871 2,122,012 2,124,786 1,419,755 1,523,670 1,575,495 1,601,114 1,552,754 1,552,632 1,547,671 1, 560,960 1, 534,183 1,573,277 1,689,080 1,619,911 1,613,495 1,630,855 1,628,860 1,658,165 1,628,235 1,571,158 1,631, 543 1,637,863 1,651,246 1,610,437 1,634,388 1,678,233 1,619,569 1, 591,906 1,606,704 1,633,803 1,664,068 1,652,604 1,588,341 1,615,882 1,636,161 1, 615,271 1,640,260 1, 579, 526 1,665,739 1, 657, 755 1,630, 529 1, 561,864 1,604.948 1,632, 507 1,623,253 Eligible paper Excess collateral 958,606 884,836 891,338 939, 544 988,404 975,741 919,193 1,066,858 1,058,364 236,032 188,590 202,047 243,909 215,348 166,538 166,170 176,474 162,713 996,817 812,610 733, 259 651,717 694,440 666,719 689,590 654, 539 700, 594 657,734 532,184 666,442 670,937 620,052 650,279 641,656 654,902 715,324 649, 557 653,181 641,963 703,210 607, 560 525,947 587, 585 647,180 657,099 575,874 549.845 534, 279 598, 287 558,173 539,087 567, 272 553,416 616,489 567,211 595,740 634, 517 705,356 674,592 669,786 674,931 164,438 125,877 145,749 140,663 158,491 142,576 167,415 148,851 162,536 133,256 129,055 192,850 186,136 138,405 153, 593 163,454 164,119 176,410 179,805 194,304 193,914 207, 873 134,863 117,463 128,278 162,704 154,942 103,100 132,057 130,081 133, 780 129,756 120,120 140,254 153,819 120,370 140,586 136,927 153,084 164,801 173,669 180.281 173,398 TABLE N O . 36.—Federal reserve notes printed, shipped, and canceled, issued to banks, retired, and destroyed since organization of the banks, with the balance in vaults and amount outstanding October 31, 1927 VAULT BALANCE OCTOBER 31, 1927 Fives Total printed _.. Total shipped and canceled Tens Twenties Fifties One hundreds Five hundreds One thousands Five thousands Ten thousands Total $5,123,800,000 $5, 624, 720.000 $5, 892, 240,000 $1, 240,800,000 $860,400,000 $173.000,000 $333, 600,000 $108,000,000 $184,000,000 $19, 540,560,000 4, 717,800,000 5,272,240,000 5, 504, 240, 000 1,128,600,000 770,000,000 117,000,000 260, 000, 000 76,000,000 184,000,000 18, 029,880, 000 Total on hand__ 406, 000,000 352,480,000 388,000,000 112,200,000 90, 400,000 56,000,000 73, 600,000 32,000, 000 1, 510, 680, 000 3 ISSUED, RETIRED, AND OUTSTANDING OCTOBER 31, 1927 O Total issued Total retired Total outstanding MUTILATED Boston New York Philadelphia Cleveland Richmond.. Atlanta Chicago St. Louis.._ Minneapolis __ Kansas City.__ Dallas--. San Francisco FEDERAL $46, 040, 000 41, 470, 000 77, 287,000 4, 570,000 557, 993, 460 655, 814, 580 173,875,150 171,114,000 30, 648, 500 $83,860,000 $19,922,263,930 76, 280,000 17, 806, 870, 535 7, 580,000 RESERVE NOTES, BY DENOMINATIONS, RECEIVED AND DESTROYED SINCE ORGANIZATION ON HAND IN VAULT OCTOBER 31, 1927 _ Balance on hand NOTE.- $5,118,084,000 $5,835, 724, 540 $6,214, 469, 540 $1, 239,459, 550 $905, 519,800 $131, 606, 500 $347, 500, 000 4, 681, 573, 295 5, 277, 731,080 5, 558, 654, 960 1, 065,584, 400 734,405, 800 100, 958,000 270, 213,000 436, 510, 705 Total received-Total destroyed. mined. s s $354, 812,890 1,127, 752,870 385, 930,365 264, 290, 560 193, 948, 775 209, 036,150 608, 748, 235 174, 898,030 114,839, 635 176,097,315 110, 307, 505 366,995, 665 $559,485,820 1, 359, 536,180 437, 312, 760 316, 040, 940 217, 921,150 215, 938, 030 631, 222, 980 171,220, 000 104, 346, 510 120, 486,110 98,870, 230 301, 553,130 4,087,657,995 4,533,933,840 4,082,134,495 4, 530, 407,340 5, 523, 500 3,526,500 $420, 791,000 900, 876, 280 499,183,040 597, 864, 500 271, 598,160 235, 094, 440 727,064, 920 175, 781, 060 86, 365,000 136,473, 400 102, 728, 260 503,586, 760 $38,858,100 181,859, 550 134,143, 800 221,972, 050 62,112, 700 24, 735,100 133,560, 900 20,743, 700 4.358,900 7,821,700 7,755,550 43,870,250 $46, 353,000 209, 376, 300 43, 491,100 40, 915, 700 29,165, 800 22, 201, 200 45, 964, 800 11, 059, 300 5, 598,100 9, 754, 900 7, 328, 400 65, 241, 500 $3. 38, 1, 3, 430, 500 634,000 669, 500 890, 500 313, 500 4, 537, 500 5, 913,000 1,150, 000 473, 000 1,000, 000 488, 500 3, 766, 000* $12, 528,000 86, 351,000 7, 295,000 4,661,000 5,018,000 9,149, 000 7,160, 000 2,413, 000 887,000 1,138,000 941,000 8, 528, 000 4, 657, 406,820 4, 653,774,820 881,792, 300 880,769, 700 536, 450,100 535, 895, 800 65, 266, 000 65,128, 000 148,069, 000 145,885, 000 3,632,000 1,022, 600 554, 300 138, 000 184,000 2,115,393,395 OF BANKS AND $330,000 545, 000 $430, 000 2, 500, 000 95,000 10,000 220, 000 90, 000 130, 000 75,000 420,000 4, 925, 000 ~I6,~26O,~666~ 437,019, 310 907, 431,180 509, 025, 565 449,950, 250 780,178, 085 720, 691, 420 2,159, 764, 835 557, 760,090 316, 868,145 452, 771, 425 328,419.445 1,308, 726, 305 6,110,000 6,110, 000 13, 920, 000 920, 000 14,928, 606, 055 14, 914, 025,155 I $1, 3, 1, 1, 14, 580,900 -During the year burned, badly mutilated, and fractional parts of Federal reserve notes amounting to $21,457 have been identified, valued, and the bank of issue deter- o S O 3 TABLE NO. 37.—Aggregate amount of Federal reserve bank notes printed, issued, canceled, and redeemed, by denominations, since the inauguration of the Federal reserve system, and amount on hand and outstanding October 81, 1927 VAULT BALANCE OCTOBER 31, 1927 Ones Total printed Total issued and canceled Twos Fives $136,232,000 136,232, 000 $478, 892, 000 478, 892,000 Tens $132, 500, 000 124, 320, 000 Total on hand $24,040,000 24,040,000 Twenties Fifties $14,030, 000 14, 080,000 $2,600,000 600,000 $788,344,000 778,164,000 2,000,000 10,180,000 8,180, 000 Total 3 3 ISSUED, R E D E E M E D , AND OUTSTANDING OCTOBER 31, 1927 W H $478,892,000 476,444, 021 $135,192,000 134, 369,346 $121, 460,000 120, 755, 895 $16,440,000 16,217,690 $9,760,000 9,438,260 $200,000 179,650 $761,944,000 757,404,862 2,447,979 822, 654 704,105 222, 310 321,740 20,350 4, 539,138 a o TABLE NO. 38.—Taxes assessed on Federal reserve bank currency, cost of redemption, and cost of plates for years ended June 80, 1915 to 1927 O Total issued Total redeemed . Total outstanding ..- ., Semiannual taxes on circulation 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 . . . ._ . . ._ . . . . . __ - . - . $2,325.18 3,590. 86 38', 750. 70 463,195. 96 1,023,344. 76 947,405. 00 445,944. 01 113,837. 32 2,890. 88 - Total • •_ ...... 3,041,284. 67 Cost of redemption of notes by the United States Treasurer $947. 93 2,353. 41 34,419. 62 263,616. 78 243,517. 97 145,890. 53 53,011.08 11,310. 86 4,561.17 3,090. 09 2,620.84 765,340. 28 Assessment for cost of original plates $1,800. 00 2,200. 00 23,810. 00 390. 00 28,200. 00 Assessment for cost of additional or duplicate plates $540. 00 720. 00 180. 00 138, 530. 00 88,270. 00 136, 570. 00 2,140. 00 366, 950. 00 Total $1,800. 00 5,065.18 5,258. 79 41,284.11 659,955. 58 1,375, 621. 54 1.327,492.97 593,974. 54 166,848. 40 14,201. 74 4,561.17 3,090. 09 2,620. 84 4.201. 774. 05 2 to CO TABLE NO. 39.—National banks in charge of receivers, year ended October 81, 1927, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension Total dividends paid during exist- Organization Name and location of bank Farmers & Drovers National Bank, Waynesburg, Pa First National Bank, Billings, Mont First National Bank, Pensacola, Fla First National Bank, Sutton, W. Va First National Bank, Uniontown, Pa First National Bank, Eureka, S. Dak___ First National Bank, Towner, N. Dak First National Bank, Hearne, Tex Farmers National Bank, Cooper, Tex First National Bank, Gridley, Calif... First National Bank, Cut Bank, Mont Picher National Bank of Picher, Okla First National Bank of Ranger, Tex First National Bank, Beaver, Pa Corn Belt National Bank of Scotland, S. Dak. First National Bank of Ambia, Ind . First National Bank of Desdemona, Tex First National Bank of Sipe Springs, Tex First National Bank, Marcus, Iowa First National Bank of Bridgeport, Nebr Bannock National Bank of Pocatello, Idaho _. The Havre National Bank of Havre, M o n t . . First National Bank of Joplin, Mont National Bank of Cleburne, Tex_ . . _ United States National Bank, Vale, Oreg First National Bank, Vale, Oreg _ First National Bank, Burley, Idaho Edwards National Bank, Booker, Tex First National Bank, Wendell, Idaho Stockmen's National Bank, Poplar, Mont Stillwater Valley National Bank, Absarokee, Mont. National City Bank, Salt Lake City, Utah First National Bank, Myton, Utah State National Bank, Ardmore, Okla____ Cory don National Bank, Corydon, Ind „. Charter No. Date 839 3097 2490 6213 270 11527 7955 4976 10626 11164 9574 11624 8072 3850 11031 9510 11452 11525 9819 9711 6347 9782 10929 4035 9496 8528 10341 11408 9491 11027 Jan. 30,1865 Dec. 3,1883 July 10,1880 Apr. 7,1902 Jan. 2,1864 Nov. 18,1919 Sept. 29,1905 July 5,1894 Sept. 24,1914 Mar. 14,1918 Oct. 5,1909 Feb. 3,1920 Jan. 26,1906 Feb. 10,1888 May 28,1917 July 30,1909 Sept. 2,1919 Nov. 6,1919 June 22,1910 Feb. 23,1910 July 15,1902 May 18,1910 Nov. 11,1916 May 6,1889 July 8,1909 Jan. 14,1907 Feb. 20,1913 May 4,1918 June 30,1909 Feb. 17,1917 11066 10308 11702 10394 7760 Aug. Nov. Apr. May May 11,1917 19,1912 10,1920 6,1913 23,1905 Capital national banking association $150,000 $597,750.00 75,000 321,350. 00 50,000 1,036,343. 00 35, 000 31, 500. 00 60,000 1,308,000.00 50,000 7, 500. 00 25,000 20, 500. 00 50,000 178, 000. 00 50,000 40,000 25,000 24, 250. 00 100,000 25,000 50,250. 00 50,000 192,750. 00 25,000 1,750.00 25,000 11,250.00 25,000 25,000 100,000 56, 500. 00 25,000 21, 500.00 50,000 49, 000. 00 50,000 30,500.00 25,000 75,000 429, 375.00 75,000 52,500.00 25,000 20,000.00 30,000 12,450. 00 25,000 25,000 7,000.00 25,000 25,000 250,000 25,000 100,000 125,000 14,000.00 122,500.00 70,000. 00 216,250.00 Failures Capital $200,000 150,000 500,000 50,000 100,000 50,000 25,000 50,000 50,000 40,000 50; 000 100, 000 200,000 50,000 25,000 25,000 25,000 25,000 50,000 25,000 100,000 50,000 25,000 150,000 75,000 50,000 30,000 25,000 25,000 25,000 25,000 250, 000 25,000 200,000 125,000 Receiver appointed Dec. July Jan. Aug. Jan. Aug. Dec. Jan. Jan. Jan. 12,1906 2,1910 22,1914 29,1914 19,1915 20,1920 28,1920 21,1921 28,1921 29,1921 . ...do Feb. 21,1921 Mar. 2,1921 Mar. 26,1921 Mar. 28,1921 Apr. 5,1921 Apr. 7,1921 Apr. 18,1921 May 18,1921 do. _. June 11,1921 Sept. 16,1921 do. Oct. 27,1921 Nov. 15,1921 do. Nov. Dec. Jan. Jan. 30,1921 12,1921 5,1922 28,1922 Jan. 30,1922 Feb. 3,1922 Feb. 24,1922 Mar. 4,1922 Mar. 8,1922 Apparent cause of failure A A A B A B B C C C A C C B A B A A C AC C C C AB C C C C C C C C A A C Circulation Total Lawful outstanding deposits at money at date of date of susdeposited failure pension d O O $100, 000. 00 $100, 000. 00 37, 500. 00 37, 500. 00 489,900. 00 489,900. 00 50, 000. 00 50,000.00 100,000.00 100,000.00 20,895.00 10,900.00 21, 500.00 36,000. 00 5,800.00 24,995. 00 10,900. 00 21,500. 00 36,000. 00 5,800.00 22,400.00 47,900.00 22,400. 00 47,900.00 24,600.00 24, 600.00 21,800 20, 600. 00 11,700.00 49,600. 00 25, 000.00 21,100. 00 12,100.00 49, 600.00 74,997. 00 67,750.00 11,600. 00 29,600.00 75,000. 00 68,750. 00 11, 900. 00 29,600.00 24,300.00 24,300.00 243,300,00 2, 500. 00 99,995. 00 125,000.00 243,300.00 2, 500. 00 99,995. 00 125,000. 00 $1,047, 580 1,908.841 1,673,245 364,021 1,452,581 823,254 247,015 128,566 541,562 210,855 245,675 208,053 1,283,599 671,077 264,775 24,796 112,917 95,627 144,284 112,121 842,093 366,887 28,214 2,787,817 279,326 122,449 503,626 52,387 91,984 170,037 1,383,447 975, 659 984,671 w § 3 First National Bank, Oak Grove, La First National Bank, Spencer, Nebr First National Bank, Ingomar, Mont American National Bank, Billings, Mont Merchants National Bank, Wimbledon, N. Dak *_ First National Bank, Mountainair, N. Mex_. First National Bank, Colusa, CaliL _._. Commercial National Bank, Great Falls, Mont Sterling National Bank, Sterling, Colo_ Payette National Bank, Payette, Idaho First National Bank, Highwood, Mont Citizens National Bank, Laurel, Mont _. First National Bank, Magdalnea, N. Mex First National Bank, Broadview, Mont.. Commercial National Bank, Wilmington, N.C „ First National Bank, Winner, S. Dak First National Bank, Wessington Springs, S.Dak _ First National Bank, Rupert, Idaho _ _ First National Bank, Warren, Mass First National Bank, Harlowton, Mont First National Bank, Clifton, Ariz Springfield National Bank, Springfield, Ohio.. First National Bank, Roundup, Mont First National Bank, Gregory, S. Dak_ First National Bank, Bottineau, N. Dak Llano National Bank, Llano, Tex Farmers & Merchants National Bank, Jefferson, Iowa __ _ City National Bank, Jerome, Idaho._ „ First National Bank, Nampa, Idaho First National Bank, Rock River, Wyo First National Bank, Highland, Wis First National Bank, Joseph, Oreg. _ Peoples National Bank, Salisbury, N. C First National Bank, Big Sandy, Mont First National Bank, Willow City, N. Dak... First National Bank, Sapulpa, Okla First National Bank, Chester, Mont._ __ . First National Bank, Henryetta, Okla. First National Bank, Carroll, Nebr... First National Bank, Shelby, Mont ._ Fairfield National Bank, Fairfield, Iowa Howard National Bank, Howard, S. Dak._. Roundup National Bank, Roundup, Mont__ First National Bank, Oswego, Mont First National Bank, Lovington, N. Mex First National Bank, Wells, Minn First National Bank, Mitchell, S. Dak 11650 M a r . 2,1920 7325 June 18,1904 11465 Aug. 16,1919 11696 Apr. 5,1920 50,000 25,000 25,000 150,000 280,750. 00 2,500. 00 8917 Sept. 17,1907 11329 Apr. 3,1919 10072 July 1,1911 30,000 30,000 75,000 15,000.00 4, 500. 00 34,500.00 106,000. 00 50,000 100, 000 25,000 150, 000 M a y 13,1922 July 14,1922 Aug. 14,1922 Sept. 23,1922 C AC A AC 10,000. 00 10, 000. 00 19,700. 00 25, 000.00 200,000 150, 000 75, 000 25,000 35,000 50,000 25,000 C C A A C C C 177,600. 00 200,000.00 71, 700.00 25,000. 00 33,900. 00 47,200.00 75, 000. 00 25, 000. 00 35, 000. 00 50,000.00 200,000 Jan. 31,1923 do.. 30,000 AC A 91, 500. 00 18,400.00 100, 000.00 20,000.00 1, 991,806 186,104 39,300. 00 24,300. 00 50,000.00 25,000.00 12,100. 00 45,400. 00 94,750. 00 24,400.00 25, 000. 00 35,800. 00 4,800.00 12,100. 00 45, 400.00 94,750. 00 24,400.00 25,000. 00 35, 800. 00 4,700. 00 336,320 140,968 292,995 334,115 260, 527 1,772,465 487,252 176,708 333,101 271,311 20,1914 2,1921 9,1906 29,1917 3,1907 27,1912 26,1915 200, 000 150,000 50,000 25,000 35,000 50,000 25,000 12176 11119 Apr. 17,1922 Dec. 15,1917 200,000 30,000 9,000. 00 6446 10429 11567 9270 5821 2620 9165 8600 6085 5853 Sept. July Nov. Oct. May Jan. May Feb. Dec. June 25,1902 29,1913 14,1919 27,1908 14,1901 17,1882 22,1908 22,1907 17,1901 5,1901 25,000 25,000 50,000 50,000 30,000 100,000 25,000 25,000 25,000 25,000 75, 250. 00 20, 000.00 2,000. 00 18, 500. 00 157,750.00 161, 500. 00 34,750. 00 89,490. 00 66,000.00 105,000.00 50,000 25, 000 50, 000 50,000 100,000 100,000 50,000 50,000 50,000 50,000 Feb. 5,1923 Feb. 7,1923 Feb. 23,1923 Mar. 7,1923 Apr. 2,1923 Apr. 5,1923 do. Apr. 12,1923 ...do _ ..do. AC A B C AC B C C AC A 10123 Dec. 28,1911 11578 Dec. 22,1919 8370 Sept. 15,1906 11342 Apr. 24,1919 10880 June 14,1916 8048 Dec. 11,1905 9076 Mar. 10,1908 11004 M a y 9,1917 6766 Apr. 18,1903 5951 Aug. 19,1901 11105 N o v . 15,1917 6867 June 29,1903 5957 Aug. 21,1901 10953 Dec. 14,1916 8986 Dec. 24,1907 10780 Aug. 13,1915 10675 Oct. 26,1914 11134 Jan. 8,1918 11029 M a y 26,1917 4669 Dec. 12,1891 2645 Feb. 8,1882 40,000 30,000 25,000 25,000 25,000 25,000 100, 000 25,000 25, 000 25,000 25,000 25,000 25,000 25,000 60, 000 25,000 25,000 25,000 30,000 50, 000 50,000 29,600.00 40,000 30,000 200,000 50,000 25,000 25,000 100,000 25,000 25,000 100, 000 25,000 50,000 50,000 25,000 60,000 25,000 25,000 25,000 30,000 100,000 100,000 Apr. 27,1923 May 24,1923 June 1,1923 June 14,1923 do .do July 3,1923 July 7,1923 July 12,1923 July 30,1923 do July 31,1923 Aug. 13,1923 Aug. 27,1923 Aug. 30,1923 Sept. 1,1923 Sept. 6,1923 Oct. 5,1923 Oct. 8,1923 Oct. 22,1923 Oct. 23,1923 C C C A B AC C C AC C AC C 32,000.00 136,000. 00 10,000. 00 44,750. 00 177,550. 00 75,000. 00 73,750.00 2,500.00 4,500. 00 9, 000.00 213,750. 00 167, 500.00 32,062 550,133 174, 230 499, 259 C C C Apr. May Jan. Dec. May Aug. Nov. 125,563.00 99,995. 00 25, 000 Oct. 27,1922 30,000 Nov. 2,1922 150,000 Nov. 22,1922 10530 11972 8075 11131 8716 10268 10809 76,750. 00 7, 500.00 7,700. 00 17,500.00 11,500.00 99,995. 00 Dec. Dec. Dec. Dec. Jan. Jan. Jan. 9,1922 11,1922 13,1922 29,1922 4,1923 18,1923 30,1923 c c A AC AC C C A AC 40,000.00 40,000.00 105, 500. 00 13,700. 00 105,50Q. 00 13,700. 00 24,300. 00 92, 800. 00 24,300. 00 94,700. 00 24,300. 66 44,900. 00 24, 500. 00 24,300. 00 21,400.00 24,300. 66 45,800. 00 24, 500. 00 24, 600. 00 25,000.00 96,400.00 99,000.00 97,000.00 99,000.00 60,490 205,020 1,067,638 475,881 201, 514 139,808 215, 807 344,244 74, 657 99,553 67,061 375,788 158, 539 77,396 141, 638 893, 613 37,800 150,665 688, 227 104, 352 967,732 383, 573 227, 849 332,323 143, 305 211,204 46, 982 126, 305 745,030 562, 553 s W H o F F o d fcO TABLE N O . 39.--National banks in charge of receivers, year ended October 31, 1927, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension—Continued Organization Name and location of bank Cavalier County National Bank, Langdon, N. Dak____ American National Bank, Three Forks, Mont Lehigh National Bank, Lehigh, Okla_ City National Bank, Coalgate, Okla First National Bank, Grey Eagle, Minn First National Bank, Fairview, Mont First National Bank, Carter, Mont First National Bank, Hemingford, Nebr Union National Bank, Beloit, Kans Texas County National Bank, Guymon, Okla Tucson National Bank, Tucson, Ariz National Bank of Barriesville, Ohio Citizens National Bank, Roswell, N . Mex First National Bank, Lancaster, Minn First National Bank, Tolley, N. Dak Citizens National Bank, Crosby, N. Dak. . First National Bank, Turtle Lake, N. Dak... First National Bank. Springfield, S. Dak Farmers National Bank, Tishomingo, Okla. First National Bank, Manville, Wyo First National Bank, Woodworth, N . D a k . . . First National Bank, Poplar, Mont. _ First National Bank, Lansford, N . Dak First National Bank, Forsyth, Mont _ Condon National Bank, Condon, Oreg. First National Bank, Moore, Mont Miners National Bank, Henryetta, Okla Merchants National Bank, Mandan, N . Dak First National Bank, Webster, S. Dak First National Bank, Dodson, Mont Sioux Falls National Bank, Sioux Falls, S. Dak__ ._. : First National Bank, Sentinel Butte, N. Dak First National Bank, Beach, N. Dak First National Bank, Bisbee, N . Dak. _. National Bank of Carlsbad, N . Mex Charter No. Date Capital Total dividends paid during existence as a national banking association 9075 10996 5755 11676 8729 12015 10995 10242 6701 12179 11159 6621 6777 11356 7810 10519 8821 8942 10431 11352 11353 10885 8187 7320 8261 8539 10349 10604 6502 11086 Jan. Apr. Feb. Mar. May Aug. Apr. July Mar. Mar. Feb. Jan. Apr. May May Apr. June Oct. July May Apr. July Mar. June Mar. Jan. Feb. Aug. Nov. Aug. 28,1908 30,1917 14,1901 10,1920 28,1907 26,1921 25,1917 27,1912 24,1903 21,1922 21,1918 29,1903 20,1903 14,1919 17,1905 14,1914 8,1907 2,1907 23,1913 1,1919 26,1919 28,1916 16,1906 10,1904 26,1906 7,1907 20,1913 24,1914 19,1902 23,1917 $25,000 40,000 25,000 50,000 25,000 40,000 25,000 25,000 25,000 25,000 100,000 100,000 50,000 25,000 25,000 25,000 25,000 25,000 30,000 25,000 25,000 25,000 25,000 50,000 50,000 50,000 25,000 50,000 25,000 25,000 $52,000.00 4,000. 00 99,250.00 2823 10706 9484 6733 6884 Nov. Feb. May Apr. July 14,1882 10,1915 26,1909 1,1903 8,1903 50,000 25,000 25, 000 25,000 30,000 240,500.00 10,000.00 52, 500.00 57,750.00 142,900. 00 38,650.00 18,300. 00 149, 875.00 5,000.00 133,000. 00 373, 500.00 5,000.00 66,250. 00 27, 500. 00 30,125.00 22,105. 00 14,750.00 1, 250. 00 3, 750. 00 63,000.00 136,500. 00 12, 500. 00 22,750.00 42,250. 00 5,000.00 32,500.00 to Failures Capital $25,000 25, 000 35,000 50,000 25,000 40, 000 25, 000 25,000 50,000 25,000 100,000 100,000 200,000 25,000 25,000 25,000 25, 000 25, 000 25,000 25,000 25,000 25,000 25,000 75, 000 50, 000 25,000 50,000 50,000 25,000 25,000 Receiver appointed Apparent cause of failure Oct. 29,1923 Oct. 29,1913 Nov. 8,1923 .—.do .do. .do, Nov. 9,1923 Nov. 10,1923 Nov. 13,1923 .do. Nov. 14,1923 do Nov. 16,1923 Nov. 19,1923 Nov. 21,1923 do... do Nov. 28,1923 Dec. 6,1923 Dec. 11,1923 .do. Dec. 17,1923 do Dec. 18,1923 do Dec. Dec. Dec. Jan. Jan. 20,1923 21,1923 26,1923 2,1924 21,1924 150,000 Jan. 24,1924 do 25, 000 do 50,000 25, 000 Jan. 28,1924 100,000 Feb. 6,1924 C A A A C B C B C AC C C C c c c c c c A c c c A c c AC C C C C Lawful money deposited Total Circulation outstanding deposits at date of susat date of pension failure O O $22, 900.00 $23,200.00 11,050.00 "l2,"256."66" 24,000. 00 6,200. 00 25, 000.00 5,950. 00 49, 300. 00 6, 200. 00 25,000.00 5,950.00 49, 300. 00 67,300.00 98,800.00 188,200. 00 24, 700. 00 5,950.00 67,300.00 100,000.00 188,200. 00 24,700. 00 6,250.00 9,700. 00 17,750. 00 24,400. 00 24,500.00 9, 700.00 17, 750. 00 24,400.00 25,000.00 6, 500. 00 33, 700.00 11,800.00 24,100.00 24, 600. 00 25,000.00 24,700.00 6, 500.00 33,700.00 11,800.00 24,500.00 25,000.00 25,000.00 24,700.00 124, 405 352,127 121,155 144,127 434,161 315,054 224, 512 72,899 74,250.00 74,250.00 24,300.00 22, 800. 00 11,800. 00 25,000.00 23,300.00 11,800. 00 1, 514,456 102,160 389,152 216,114 446, 659 $353, 645 63,477 159,610 158,720 90,443 146,213 203, 317 545,591 173, 519 588,287 877,090 497,195 179,618 87,434 146, 380 134, 961 150,326 132,277 64, 463 47, 881 O O g a Dakota National Bank, Dickinson, N. Dak.. First National Bank, Lusk, Wyo First National Bank, St. John, Wash First National Bank, Warroad, Minn ..... First National Bank, Brookings, S. Dak First National Bank, Ronan, Mont... First National Bank, Harrison, Nebr First National Bank, Clarkston, Wash. First National Bank, Carthage, S. Dak First National Bank, Onida, S. Dak Commercial National Bank, Miles City, Mont Nowata National Bank, Nowata, Okla First National Bank, Castlewood, S. Dak First National Bank of Clovis, N. Mex First National Bank, Charlo, Mont First National Bank, Sidney, Mont Stockmens National Bank, Fort Benton, Mont__.__ First National Bank, Fort Sunmer, N. Mex.. Wells National Bank, Wells, Minn. First National Bank, Gering, Nebr Western National Bank, Mitchell, S. Dak___. First National Bank, Coalgate, Okla First National Bank, Mclntosh, S. Dak First National Bank, Clayton, N. Mex First National Bank in Deming, N. Mex First National Bank, St. Anthony, Idaho First National Bank, Huron, S. Dak Farmers & Merchants National Bank, Fairbury, Nebr First National Bank, Golva, N. Dak... First National Bank, Lingle, Wyo Torrington National Bank, Torrington, Wyo. First National Bank, Poison, Mont Merchants National Bank, Crookston, Minn. First National Bank, Bristow, Nebr First National Bank, Lake Preston, S. Dak... First National Bank, Plentywood, Mont. First National Bank, Sterling, Colo First National Bank, Rocky Ford, Colo. First National Bank of Fergus County, Lewistown, Mont First National Bank, Marysville, Kans First National Bank, Alexander, N. Dak First National Bank, Pilger, Nebr First National Bank, Wilsall, Mont National Bank of Commerce, Shawnee, Okla. Citizens National Bank, Hankinson, N. Dak. City National Bank, El Paso, Tex First National Bank, Carlsbad, N. Mex First National Bank, Baker, Mont Farmers National Bank, Burlington, Kans... 50,000 50, 000 40, 000 25,000 100,000 25,000 50,000 50,000 25,000 25, 000 Feb. 7,1924 __.do do Feb. 9,1924 ....do... do... Feb. 12,1924 do .....do.. do.. 277, 000. 00 112,000.00 42, 500.00 50,100. 00 1, 500. 00 103,250. 00 250, 000 25,000 25,000 100,000 25,000 50,000 Feb. 15,1924 Feb. 19,1924 ...__do Feb. 20,1924 do Feb. 26,1924 100,000 25,000 30, 000 50, 000 50, 000 25, 000 25,000 25,000 25,000 25,000 50,000 802,000.00 45, 500.00 75,000. 00 59,750. 00 126,221.00 175,850.00 32, 076.84 150, 500. 00 55, 400. 00 207, 625.00 166, 350.00 200, 000 25,000 75, 000 25, 000 100, 000 100,000 25,000 75,000 40, 000 50,000 65, 000 ...._do_ do ...-do do... Feb. 27,1924 do... Mar. 1,1924 do Mar. 4,1924 do Mar. 14,1924 23,400.00 60, 000 25, 000 25,000 35, 000 25,000 75, 000 40,000 25, 000 50, 000 100,000 60,000 Mar. 15,1924 Mar. 18,1924 Mar. 19,1924 ....do Mar. 22,1924 Mar. 24,1924 do Mar. 28,1924 Mar. 31,1924 Apr. 5,1924 do 7663 Mar. 4,1905 11390 June 23.1919 11172 Mar. 11,1918 11815 Aug. 4,1920 3087 Nov. 15,1883 Aug. 31,1910 June 28,1907 6742 Mar. 16,1903 10833 Mar. 20,1916 11585 Jan. 17.1920 50,000 50,000 40,000 25,000 50,000 25,000 50,000 25,000 25,000 25, 000 5015 Aug. 15,1895 6367 July 23,1902 6000 Oct. 2,1901 8784 June 14,1907 11165 Feb. 26,1918 9904 Dec. 23,1907 80,000 25,000 25,000 35,000 25,000 25,000 4194 Dec. 24,1889 8617 Feb. 28.1907 6788 Apr. 6,1903 8062 Dec. 28,1905 7455 Sept. 12,1904 5647 Dec. 8,1900 9283 Oct. 16.1908 5713 Dec. 29,1900 6974 Aug. 5,1S03 5764 Dec. 31,1900 2819 May 19,1882 10340 11, 346 11231 11309 9449 3262 9448 10758 10438 5624 7082 Feb. Apr. Aug. Feb. Mar. Oct. June July May Oct. Oct. 8,1913 14,1919 19,1918 3, 1919 26.1909 25,1884 5,1909 24,1915 12,1913 29,1900 23,1903 60,000 25, 000 25,000 35, 000 25,000 75,000 25,000 25,000 25,000 25,000 50, 000 7274 2791 11297 5937 11335 12441 8084 7514 5487 May Aug. Jan. Aug. Apr. Aug. Jan. Oct. May Aug. Sept. 9,1904 25,1882 22,1919 2,1901 11,1919 18,1923 18,1906 14,1904 19,1900 19,1913 10,1903 100, 000 50, 000 25,000 25, 000 25, 000 100,000 30,000 100,000 25, 000 25,000 25, 000 10443 6955 68,000.00 16,000.00 270, 500. 00 22,250.00 109,000.00 38, 500.00 23, 500. 00 8, 750. 00 26,250. 00 155, 250. 00 53, 625. 00 22, 500. 00 22, 500. 00 342,986. 05 78, 800. 00 485, 000. 00 221, 625. 00 1,000. 00 77, 750. 00 31, 900. 00 471,000.00 430, 000. 00 7, 500. 00 81, 750. 00 300, 000 Apr. 12,1924 75,000 Apr. 15,1924 25,000 do. 50,000 Apr. 22,1924 25, 000 do 100, 000 Apr. 28,1924 30,000 Apr. 30,1924 500,000 May 8,1924 100, 000 May 14,1924 25, 000 May 20,1924 55, 000 May 21,1924 C c A A A C c c A A C C A C C c r c c A C c c c c c c A A C C C A C A C C A AC A C c c B C C A C C 47,100.00 48, 500. 00 47,100.00 48, 500.00 98, 500. 00 5,950.00 15, 000. 00 50, 000.00 25,000. 00 24, 700. 00 99,200.00 5,950.00 15,000.00 50,000.00 25,000.00 25, 000.00 98, 500. 00 16, 797. 50 24, 600. 00 55, 800.00 98, 500. 00 16, 797. 50 24,600.00 62, 500.00 176,986 82,343 98, 542 159,329 623,164 102,643 353,806 188,453 228,933 112,045 39, 000. 00 39,000. 00 1,588, 243 459,448 164,542 64,864 46,276 395, 764 190,795.00 5, 850.00 74, 300. 00 11,500.00 93, 400.00 27, 300. 00 23, 300. 00 50,000.00 21, 995. 00 47, 600.00 29,000. 00 191,895.00 5,850.00 75,000.00 11, 500.00 93, 400.00 27, 300.00 23, 700.00 50,000.00 25,000.00 48, 600.00 30, 000.00 467,119 79,155 745,030 265, 790 289, 727 493,803 103, 496 197, 525 307, 368 236, 777 1, 099,420 59, 400. 00 60,000.00 24, 700. 00 74, 200. 00 25, 000 24, 200.00 6, 250. 00 98,300 14,100 24, 700. 00 75, 000. 00 25, 000. 00 24, 200. 00 6, 250.00 100, 000.00 14,100. 00 223, 363 50,234 54,763 67,468 114, 786 1.17jO, 960 138,960 275,947 243,877 712, 005 239,527 124,500.00 73, 500 24, 400 48, 600 124, 500.00 74, 200.00 24,400. 00 48,600.00 100, 000 30, 000 100, 000.00 30, 000. 00 24, 597. 50 21, 900 49,300 24,597. 50 21,900.00 49,300.00 2,866,963 591,816 202. 272 202,998 23, 019 936,087 206,864 3,384,059 361,326 150,340 316,452 H n o o to CO TABLE N O . 39.—National banks in charge of receivers, year ended October 31, 1927, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension—Continued Organization Name and location of bank 813 814 815 816 817 818 819 820 822 823 824 827 829 830 831 832 833 835 836 837 838 839 840 841 842 843 845 846 847 850 851 852 853 855 856 Drovers National Bank, East St. Louis, Hl___ First National Bank, Schuyler, Nebr First National Bank, Morristown, S. Dak City National Bank of Huron, Huron, S. Dak. First National Bank, Newcastle, Wyo Citizens National Bank, Julesburg, Colo First National Bank, Basin, Wyo First National Bank, Lidgerwood, N . Dak_._ Citizens National Bank, Worthington, Minn. First National Bank, Poteau, Okla National Bank of Commerce of Rochester, N. Y Weiser National Bank, Weiser, Idaho Citizens National Bank, Ness City, Kans First National Bank, Cheyenne, Wyo ___ First National Bank, Lambert, Mont First National Bank, Bridgewater, S. Dak___ Citizens National Bank, Cheyenne, Wyo First National Bank, Harrington, Wash First National Bank, Minnesota Lake, MinnFirst National Bank, Rexburg, Idaho First National Bank, Ririe, Idaho. First National Bank, Putnam, Conn State National Bank, Carlsbad, N . Mex Northwestern National Bank of Livingston, Mont- _ First National Bank in Clovis, N . Mex First National Bank, Beaver Creek, M i n n . _. First National Bank, Groom, Tex First National Bank, Ozark, Ala__ First National Bank, Ulen, Minn__ First National Bank, Alma, Wis. Merchants National Bank, Grinnell, Iowa First National Bank, Morgan, Tex ;___ First National Bank, Abbeville, Ala.. __ First National Bank, Algona, Iowa._ First National Bank, Boise City, Okla Charter No. Date 10399 2778 9817 8781 7198 9603 10858 5772 5910 7118 Apr. Sept. May June Mar. Sept. May Mar. June Jan. 30,1913 4,1882 11,1910 3,1907 23,1904 29,1909 15,1916 29,1901 7,1901 14,1904 8111 8139 8081 1800 11176 6925 8089 9210 6204 7133 10920 448 10962 Feb. Feb. Feb. Dec. Apr. Aug. Jan. July Apr. Jan. Oct. Mar. Feb. 11000 12522 9321 11447 7629 7081 8338 2953 6247 5987 3197 11084 Mar. Feb. Jan. Aug. Feb. Dec. May Apr. May Aug. May Aug. Capital Total dividends paid during existence as a national banking association Failures Capital Receiver appointed $57,000.00 214,750.00 12,500.00 44,750. 00 78,750.00 55,125. 00 17, 500. 00 190,000. 00 50,500.00 38, 750.00 $200,000 50,000 25,000 May 22,1924 May 24,1924 do. 25,000 25, 000 35, 000 50, 000 25, 000 25, 000 June 12,1924 do June 14,1924 June 17,1924 June 19,1924 do.. 1,1906 19,1906 3,1906 29,1870 20,1918 3,1903 15,1906 10,1908 5,1902 19,1904 9,1916 23,1864 8,1917 500, 000 1,222,500.00 50,000 118, 584. 67 30,000 70,950.00 100,000 949,000.00 25,000 25,000 86,750. 00 100,000 79,000.00 50,000 46,500. 00 25, 000 71,500.00 50,000 120,500.00 25, 000 6, 750. 00 100,000 814,000.00 75,000 22,500.00 1, 500,000 75,000 45,000 200,000 25,000 25,000 100,000 50,000 25,000 50,000 25,000 150,000 75,000 June 21,1924 June 23,1924 J u l y 3,1924 July 9,1924 July 16,1924 July 18,1924 July 21,1924 Aug. 6,1924 do Aug. 11,1924 do Aug. 13,1924 Aug. 25,1924 27,1917 28,1924 4,1909 16,1919 13,1905 12,1903 16,1906 28,1883 3,1902 17,1901 22,1884 30,1917 100,000 50,000 25,000 25,000 25,000 25, 000 25,000 50.000 25,000 27,500 50,000 26,000 $200,000 50,000 25,000 50,000 25,000 25,000 25,000 50,000 25,000 25,000 8,000.00 36,500.00 85,737.22 42,500.00 52, 500.00 422,500.00 40,750. 00 153, 600. 00 142,750.00 6,000.00 100,000 50,000 30,000 25,000 35,000 25,000 25,000 100,000 25,000 100,000 50,000 26,000 Aug. Sept. Sept. Oct. Oct. Oct. Nov. Nov. Nov. Nov. Nov. Nov. 30,1924 4,1924 20,1924 6,1924 23,1924 28,1924 7,1924 12,1924 13,1924 14,1924 24,1924 25,1924 Apparent cause of failure C C A C C c c c A c A C C C C C C C B C C A C C A C AC A A A C G C A A Circulation Total Lawful outstanding deposits at money at date of date of susdeposited failure pension $47,200.00 25,000.00 39,000. 00 24, 300. 00 24, 000. 00 33, 800. 00 49, 300. 00 18,000. 00 22, 700.00 $47, 200.00 25,000.00 $433,685 524,922 98,667 24,300. 00 24, 600. 00 35, 000. 00 50,000. 00 18,000. 00 22, 700. 00 442, 668 164, 286 174,795 611,146 421,059 238, 357 459, 897. 50 64,100.00 459,897. 50 65,000.00 198,498 574,356 196, 600.00 200,000.00 6, 200. 00 97, 395. 00 19, 200. 00 25,000. 00 50,000.00 16, 250.00 50,000.00 6, 500. 00 99,995.00 19, 200. 00 25,000. 00 50,000. 00 16, 250.00 50,000. 00 4,498,121 63,973 228, 891 1, 214,862 198,499 324,105 215, 772 72,350 1,478,076 25,000.00 25,000.00 32,400.00 24,700. 00 24,995. 00 100,000. 00 25, 000. 00 98, 500. 00 49,600. 00 10,000.00 32, 800. 00 24, 700.00 24.995. 00 100,000. 00 25,000. 00 49, 600.00 10,000.00 159, 538 168, 795 114,075 16,974 158, 618 197,067 203, 589 998, 975 51,912 145,412 656,090 136,521 3 3 3 O O j o 1 First National Bank, Allendale, S. C First National Bank, Barnwell, S. C_ First National Bank, Center, Tex Farmers National Bank, Dodge Center, Minn._ « First National Bank, Torrington, Wyo Parkersburg National Bank, Parkersburg, P a . First National Bank, Buffalo, Okla.__ First National Bank, Oldham, S. Dak__ First National Bank, Spring Hope, N . C Stockmans National Bank, Columbus, Mont_ First National Bank, Alexandria, Minn First National Bank, Townsend, Mont First National Bank, Rigby, Idaho Peoples National Bank, Hot Springs, S. Dak__ First National Bank, Sylvester, Ga First National Bank, Salem, S. Dak Jefferson County National Bank, Rigby, Idaho. Neoga National Bank, Neoga, 111 __. First National Bank, Mohall, N . Dak .__ First National Bank, Excelsior Springs, M o . . Logan County National Bank, Sterling, Colo__ First National Bank, Buena Vista, Ga First National Bank, Hampton, Ga._ Perry National B ank, Perry, Iowa Farmers National Bank, Hempstead, Tex First National Bank, Crystal, N . Dak National Bank of Abbeville, S. C__ . Commercial National Bank, Charleston, S. First National Bank, Quincy, Fla National Bank of Commerce, Pierre, S. Dak___ Black Hawk National Bank, Waterloo, Iowa._ Lebanon National Bank, Lebanon, Tenn First National Bank, Shelley, Idaho First National Bank, Brinsmade, N . Dak First National Bank, Atwater, Minn First National Bank, Renville, Minn First National Bank, Idabel, Okla First National Bank, Pleasantville, Iowa First National Bank, Cavalier, N. Dak First National Bank, Stevensville, Mont First National Bank, Wapanucka, Okla First National Bank, Matoaka, W. Va City National Bank, Clarksville, Tex First National Bank, Montpelier, Idaho First National Bank, Buhl, Idaho.__ _ First National Bank, Lemmon, S. Dak Commercial National Bank, Greenville, Tex_ _ Farmers National Bank, Chandler, Okla First National Bank, Bamberg, S. C First National Bank, Bandon, Oreg 11111 Nov. 30,1917 11287 Jan. 9,1919 5971 Sept. 10,1901 50,000 50,000 30,000 20,000.00 7,000.00 31,000.00 Feb. Oct. Feb. Sept. Aug. May July June Jan. June May Mar. July June 4,1903 6,1908 27,1880 2,1907 30,1912 6,1919 12,1918 9,1883 31,1911 13,1919 23,1908 11,1902 5,1901 9,1919 30,000 25,000 50,000 25, 000 25,000 50, 000 50, 000 60, 000 50,000 30,000 25,000 25,000 25,000 50,000 43,500. 00 90, 000. 00 171,865. 00 40, 250. 00 31, 750. 00 9,000. 00 7841 July 11,1905 7008 Sept. 17,1903 7741 May 5,1905 7973 Oct. 11,1905 7963 Oct. 12,1905 10089 July 13,1911 10130 Jan. 2,1912 4905 Apr. 15,1893 7918 Sept. 12.1905 3421 Oct. 16,1885 10543 May 5.1914 7253 May 4,1904 4279 Feb. 13,1890 6854 Apr. 17.1903 8714 Apr. 13.1907 11434 July 15.1919 8502 Dec. 11.1906 10570 June 15,1914 6583 Dec. 19,1902 8486 Dec. 10,1906 5564 Aug. 2,1900 10116 Nov. 24,1911 10709 Feb. 4.1915 5950 Aug. 8,1901 11264 Nov. 7,1918 10643 Oct. 8,1914 7381 Aug. 9,1904 11065 Aug. 10,1917 9269 Oct. 16.1908 7510 Nov. 24.1904 12060 Nov. 25,1921 11704 Apr. 19.1920 9718 Feb. 25,1910 25,000 25,000 25,000 50,000 25,000 30,000 50,000 50,000 25,000 50,000 200,000 *0,000 75,000 100,000 30,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 50,000 25,000 100,000 25,000 30,000 25,000 2464 8896 10256 11431 11220 2995 9982 11385 9166 6180 5898 11458 264,600. 00 26,000.00 4,800. 00 27,916. 00 49,000. 00 114,000.00 12,500.00 86,250. 00 17,000.00 147,000. 00 70,100.00 27,200.00 54,250.00 133,000. 00 36,300.00 209,500. 00 140,000.00 127,000. 00 139,048.00 145,600. 00 110,300.00 38,000.00 31,000.00 88,000.00 99,000.00 23,750.00 29,250. 00 10, 750.00 82,250.00 16,250.00 95,000. 00 75,250.00 25,000.00 35, 750.00 158,000.00 7,500.00 12,750.00 50,000 Dec. 3,1924 -do 50,000 do ._ 50, 000 30,000 50, 000 50,000 25,000 25,000 50,000 50,000 60,000 50,000 80,000 25,000 50,000 25, 000 50,000 Dec. 9,1924 Dec. 16,1924 Dec. 26,1924 Dec. 27,1924 Jan. 3,1925 Jan. 7,1925 do 25,000 25,000 25,000 150,000 50,000 50,000 75,000 50,000 25,000 75,000 200,000 100,000 100,000 200,000 80,000 25,000 25,000 25,000 25,000 80,000 25,000 25,000 25,000 25,000 50,000 200, 000 50,000 100,000 50,000 150,000 25,000 45,000 25,000 Jan. 21,1925 Jan. 22,1925 Jan. 24,1925 Jan. 26,1925 do Jan. 27,1925 Feb. 5,1925 Feb. 7,1925 do__ do__ do Feb. 11,1925 do Feb. 13,1925 do Jan. 8,1925 do Jan. 12,1925 Jan. 15,1925 do Jan. 16,1925 Jan. 17,1925 do __ do_ Feb. 14,1925 do_ Feb. 18,1925 Feb. 21,1925 do Mar. 2,1925 do Mar. 3,1925 Mar. 9,1925 Mar. 13,1925 Mar. 26,1925 Apr. 2,1925 Apr. 6,1925 Apr. 10,1925 doApr. 13,1925 AC AC B A C AB A C A C A C C C C A 9,600. 00 48,800.00 48,900. 00 29, 500. 00 6,100. 00 42, 600. 00 9, 700. 00 25, 000. 00 9,600. 00 48,800.00 48,900. 00 185, 016 96,628 245, 341 29, 500.00 6,100.00 42, 600. 00 9,700.00 25,000. 00 59,400. 00 12, 500. 00 59,400.00 12, 500.00 5, 950. 00 29, 300. 00 24, 500. 00 5,950. 00 29, 300. 00 24, 500.00 611, 756 254, 693 329, 404 144, 088 250, 588 264, 867 137, 464 843, 235 80, 721 466, 517 156,143 53, 269 158, 184 A C B C C C A A C C 24,700.00 24, 700. 00 48,400.00 20,000.00 72,300. 00 49,197. 50 24,600. 00 16,850. 00 24,700.00 24, 700.00 25,000.00 100,000.00 48,400.00 20,000.00 72,300.00 49,197. 50 24,600. 00 16,850.00 55,000. 00 189,800.00 78, 600.00 19, 600.00 18,500. 00 10,000. 00 24,600. 00 79,500. 00 .189,800. 00 78,600.00 19,600.00 24, 600.00 10,000.00 24,600.00 24, 700.00 25,000. 00 24,700.00 25,000.00 10,000.00 5,550.00 50,000.00 49,400. 00 25,000.00 149, 995. 00 11,800.00 49,400. 00 25,000.00 149,995 00 15,000.00 15,000.00 166,666. bb c A A C c c c BC C A A C C c B C C c c c AC AC A 10,000.00 123, 243 90,934 212,086 508,452 81,597 33,214 645, 627 177, 720 256, 939 413, 542 1,003,982 348, 671 683,098 84, 724 118, 712 488,436 400, 700 264, 653 213,392 368, 224 76,421 161,142 571,934 108, 596 335,821 237,493 418,423 638,350 319,134 54,107 181,264 hi O 3 O O o i S o TABLE N O . 39.—National banks in charge of receivers, year ended October 31, 1927, capital at dale of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension—Continued Organization Name and location of bank Georgia National Bank, Athens, Ga Osceola National Bank, Osceola, Iowa First National Bank, Wimbledon, N. Dak.... First National Bank, Hedrick, Iowa First National Bank, Jasper, Minn First National Bank, Las Vegas, East Las Vegas, N. Mex _ First National Bank, Conyers, Ga._. Hugo National Bank, Hugo, Okla First National Bank, Carnegie, Pa Burgettstown National Bank, Burgettstown, Pa First National Bank, Selma, N. C _ First National Bank, Madison, S. Dak Farmers National Bank, Louisburg, N. C First National Bank, Florence, S. C First National Bank, Clear Lake, S. Dak First National Bank, Crandon, Wis „ City National Bank, Hugo, Okla First National Bank, Springer, N. Mex Merchants National Bank, Detroit Lakes, Minn First National Bank, St. Cloud, Minn First National Bank, Simla, Colo First National Bank, Abercrombie, N. Dak. _ _ First National Bank, Wausa, Nebr__ First National Bank, Redwood Falls, Minn... First National Bank, Lumberton, N. C First National Bank, Walters, Okla First National Bank, Lake Park, Minn First National Bank, Devol, Okla First National Bank, Dell Rapids, S. Dak Globe National Bank, Denver, Colo.. First National Bank, Warren, Minn. _. First National Bank, Winifred, Mont :_ First National Bank, Hallock, Minn First National Bank, Buffalo, Minn Charter No. Date 6525 6033 6712 5540 6523 Oct. 14,1902 Oct. 8,1901 Feb. 7,1903 Aug. 11,1900 Oct. 7,1902 Capital Total dividends paid during existence as a national banking association Capital Receiver appointed Apparent cause of failure $716,000.00 15,000.00 39,500.00 51,750.00 94,600.00 $400,000 25,000 25,000 25,000 30,000 200,000 75,000 200,000 100,000 M a y 4,1925 M a y 12,1925 do do c AC C C A 100,000 30,000 50,000 25,000 150,000 25,000 50,000 100,000 50,000 M a y 14,1925 M a y 16,1925 M a y 21,1925 M a y 22,1925 do M a y 25,1925 M a y 29,1925 June 5,1925 June 15,1925 A C AC A A C B C C 60,000 250,000 25,000 25,000 75,000 70,000 50,000 50,000 25,000 25,000 60,000 200,000 50,000 25,000 60,000 50,000 June June June June July July Aug. Aug. Aug. Sept. Sept. Oct. Oct. Oct. Oct. Oct. 22,1925 24,1925 25,1925 30,1925 9,1925 29,1925 4,1925 6,1925 24,1925 17,1925 26,1925 1,1925 10,1925 15,1925 16,1925 17,1925 C A A C Aug. Sept. Apr. May 25,1879 3,1918 11,1905 16,1892 50,000 75,000 50,000 50,000 506,500.00 2408 10739 3149 10260 9747 6357 9387 12136 11565 Jan. May Mar. Aug. Mar. June Mar. Feb. Oct. 25,1879 7,1915 29,1884 1,1912 23,1910 28,1902 16,1909 10,1922 18,1919 50,000 30,000 50,000 50,000 100,000 25,000 25,000 100,000 50,000 444,500. 00 11,400.00 216,355. 00 11,000.00 167,000.00 65,000.00 49,125.00 8122 Feb. 9,1906 2790 Sept. 25,1882 11354 M a y 10,1919 8419 Aug. 25,1906 9994 Mar. 27,1911 5826 Mar. 11,1901 7398 July 21,1904 6612 Jan. 10,1903 7143 Feb. 10,1904 11535 Nov. 4,1919 3508 Apr. 21,1886 11623 Feb. 5,1920 5866 M a y 18,1901 11006 M a y 17,1917 6934 Aug. 5,1903 11023 June 7,1917 50,000 50,000 25,000 25,000 50,000 25,000 25,000 25,000 25,000 25,000 50,000 200.000 25,000 25,000 25,000 25,000 110,500.00 401,000.00 145,100.00 466,750.00 9, 500. 00 11, 750.00 87,500.00 94,550.00 72,250. 00 62,250. 00 33,500.00 198, 775.00 66,000.00 81,250.00 8,000.00 84,450.00 14,000.00 to Failures $100,000 25,000 25,000 25,000 25,000 2436 11255 7747 4762 to Apr. Apr. Apr. Apr. May 17,1925 22,1925 23,1925 24,1925 1,1925 C A C C c A A C A C C AB C C c A Lawful money deposited $200,000.00 25,000.00 19,800.00 200,000.00 95,000.00 98,400.00 124,000.00 15,000.00 45, 200.00 5,000.00 46,600.00 Circulation outstanding at date of failure $200,000.00 25,000.00 25,000.00 19,800. 00 29,500.00 $1,200,239 129,258 161, 727 147,483 200,000.00 27, 700.00 19,800.00 95,000.00 828,256 133,181 968,533 1,448,397 98,400.00 8,800.00 30,900. 00 23,200.00 124,000.00 25,000.00 45,200.00 1,698,546 181,216 399,861 76,255 1,137, 989 384,311 350,144 235,854 150,655 56, 700.00 491,438 1,682,525 67,344 224,370 511,612 377,128 392,492 159,040 309,344 29,765 498,219 4,020,485 382,775 62,483 350,056 668, 508 24,100.00 50,000.00 24, 400.00 46,600. 00 25,000.00 9,600.00 59,500.00 Total deposits at date of suspension ~59~5O6.~66" 24,600.00 24,600.00 34,600.00 O s o o 2 4 Manilla National Bank, Manilla, Iowa _. Loveland National Bank, Loveland, Colo Winner National Bank, Winner, S. Dak Muskogee Security National Bank, Muskogee, Okla -._ Corona National Bank, Corona, Calif. _ First National Bank, Forest City, Iowa Davenport National Bank, Davenport, Wash. First National Bank, Pasco, Wash _ First National Bank, Howard, S. Dak— Gregory National Bank, Gregory, S. Dak First National Bank, Hardin, Mont. _ First National Bank, Sac City, Iowa First National Bank, Brooklyn, Iowa_ Warren National Bank, Warren, Minn First National Bank, Covington, Ga First National Bank, Delano, Minn First National Bank, Creston, Iowa Farmers & Merchants National Bank, Cannon Falls, Minn Farmers National Bank, Lake Preston, S. DakFirst National Bank, Jefferson, Iowa Drovers National Bank, Denver, Colo First National Bank, Kifle, Colo. Home National Bank, Cleburne, Tex First National Bank, Kiverbank, Calif First National Bank, Malta, Mont Security National Bank, Mason City, Iowa__ Glasgow National Bank, Glasgow, Mont National Bank of Luverne, Minn First National Bank, Greensboro, Ga Broadway National Bank, Denver, Colo First National Bank, Tama, Iowa First National Bank, Waukon, Iowa First National Bank of Gilmore, Gilmore City, Iowa First National Bank, Pocahontas, Iowa Cando National Bank, Cando, N. Dak First National Bank, Oroville, Wash First National Bank, Ada, Minn National Bank of Wessington Springs, S. Dak_ Farmers National Bank, La Moure, N. Dak_ _ First National Bank, Estherville, Iowa Stoekmans National Bank, Brush, Colo Liberty National Bank of South Carolina at Columbia, S. C First National Bank, Pagosa Springs, Colo_.First National Bank, Kiefer, Okla First National Bank, Marion, N. Dak Spirit Lake National Bank, Spirit Lake, IowaFirst National Bank, Deep River, Iowa First National Bank, Blue Mound, 111 First National Bank, Intake, Mont 6041 Nov. 12,1901 8116 Feb. 14,1906 12024 Sept. 20,1921 25,000 100,000 60,000 41,875.00 133,000.00 25,000 100,000 60,000 Oct. 20,1925 Oct. 22,1925 Oct. 24,1925 12277 8436 4889 7527 9265 6585 9377 9215 4450 3284 11286 8945 9903 2586 Nov. Oct. Feb. Dec. Aug. Nov. Mar. July Oct. Dec. Dec. Oct. Nov. Oct. 8,1922 23,1906 20,1892 22,1904 22,1908 29,1902 23,1909 20,1908 6,1890 22,1884 28,1918 28,1907 23,1910 22,1881 100,000 25,000 50,000 100,000 25,000 25,000 50,000 25,000 50,000 50,000 30,000 40,000 25,000 50,000 12,000.00 18,000.00 84,250.00 175,000.00 60,000.00 85,250. 00 77,477.35 70,000.00 208,500. 00 211,750.00 6,400.00 46,000.00 15,500.00 370,000.00 200,000 25,000 75,000 100,000 50,000 50,000 50,000 65,000 50,000 50,000 50,000 50,000 25,000 50,000 N o v . 7,1925 N o v . 10,1925 Nov. 14,1925 Nov. 17,1925 Nov. 21,1925 Nov. 24,1925 Nov. 25,1925 Nov. 27,1925 Dec. 2,1925 Dec. 4,1925 Dec. 5,1925 Dec. 8,1925 Dec. 12,1925 do__ 6704 10773 8262 11564 6178 10411 10427 9.738 10428 8655 8977 6967 12250 1880 4921 Feb. July Mar. Dec. Dec. June June Mar. July Feb. Dec. Aug. Aug. Aug. Apr. 14,1903 20,1915 26.1906 18,1919 5,1901 7,1913 26,1913 28,1910 16,1913 19.1907 4,1907 1,1903 10,1922 5,1871 22,1893 25,000.00 25,000 25,000 5,250.00 50,000 66,000. 00 200,000 3,750, 000. 00 25,000 92, 750. 00 150,000 54,000. 00 25,000 2,000.00 25,000 65,850. 00 100,000 614, 500. 00 25,000 104, 250. 00 25,000 15,000. 00 25,000 49,000.00 200,000 28,000.00 50,000 213,450.00 50,000 226,500.00 25,000 25,000 50,000 200,000 50,000 100,000 25,000 60,000 100,000 75,000 25,000 50,000 200,000 75,000 100,000 Dec. 6611 12544 7377 8279 5453 12620 9714 4700 8520 Dec. May July June Apr. Nov. Mar. Jan. Dec. 2,1902 12,1924 16,1904 2,1906 13,1900 17,1924 1,1910 23,1892 22,1906 25,000 75,000 25,000 50,000 25,000 25,000 50,000 50,000 35,000 25,000 75,000 25,000 50,000 50,000 25,000 50,000 100,000 35, 000 do Jan. 30,1926 Feb. 6,1926 Feb. 8,1926 Feb. 10,1926 Feb. 23,1926 Feb. 25,1926 Feb. 27,1926 M a r . 1,1926 11871 12239 9161 8032 6705 9530 10928 Feb. Oct. July Apr. Dec. Mar. Aug. Nov. 10,1910 4,1920 15,1922 30,1908 12,1905 14,1903 19,1909 29,1916 100,000 25,000 25,000 25,000 50,000 25,000 25,000 25,000 500,000 25,000 25,000 25,000 50,000 25, 000 25,000 25,000 Mar. Mar. Mar. Mar. Mar. Mar. Mar. Apr. 27,500.00 74,000.00 42, 500. 00 93, 750. 00 51, 000. 00 291,750. 00 66, 500. 00 166,312.50 62, 000. 00 101,000. 00 28,750.00 21, 750. 00 2,000.00 17,1925 do 23,1925 24,1925 do__ Dec. 28,1925 do do Dec. 29,1925 do Dec. 31,1925 Jan. 9,1926 Jan. 16,1926 Jan. 18,1926 do. Dec. Dec. 4,1926 6,1926 13,1926 19,1926 23,1926 25,1926 27,1926 7,1926 AB C C C A A C O 18,450.00 100,000.00 100,000.00 I 73,997.50 o c A c o c o c c A C A A C A B C C C C C C 12,000. 00 9,600.00 12,100. 00 200, 000. 00 24,500.00 6,495. 66 c c c c c c c A c c c c A A A A A B C 23,100.00 42,800. 00 12, 500. 00 48, 500. 00 25,000. 00 47,700.00 14,700.00 25,000. 00 40, 000. 00 6, 250. 00 12,100. 00 6,495. 00 97,900. 00 50,000.00 6, 050. 00 49,297. 50 93, 200.00 6, 200. 00 24, 300. 00 6, 500. 00 24,400. 00 24, 500. 00 48, 700. 00 48, 700. 00 97, 000. 00 9,800. 00 5, 950. 00 45, 200. 00 24,600. 00 24, 200.00 127, 950 490, 791 71,852 2,122, 111 33, 759 507,347 451, 757 375, 645 360, 599 290, 520 488,546 520, 572 633,005 341,515 168,630 262,155 333,877 134,245 306,880 1,208,552 318,602 115, 739 80,908 135,645 944,632 187,074 523,153 171,465 2,318,247 894,382 739,072 201,056 377,430 301,119 80,756 452, 241 79,917 192, 334 382, 589 261,882 453,008 57,208 167,604 110,573 570,110 84,039 89, 022 15, 381 O O r W o d 3 52 CO TABLE N O . 39.—National banks in charge of receivers, year ended October SI, 1927, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension.—Continued Organization Name and location of bank 995 996 997 998 999 1000 1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 First National Bank, Frankfort, S. Dak Moline National Bank, Moline, Kans _ First National Bank, Fulton, Mo First National Bank, Shenandoah, Iowa First National Bank, Cambridge, Iowa First National Bank, Oktaha, Okla First National Bank, Granada, Minn Citizens National Bank, Wayne, Nebr First National Bank, Noblesville, Ind First National Bank, Jonesboro, Ark First National Bank, Saco, Mont First National Bank, Hayden, Colo First National Bank, Barnsdall, Okla Palm Beach National Bank, Palm Beach, Fla_ First National Bank, Benson, Minn De Smet National Bank, De Smet, S. Dak ._ First National Bank, Milford, Iowa First National Bank, Dinuba, Calif. First National Bank, Glenwood, Minn Whitbeck National Bank, Chamberlain, S. Dak First National Bank, Cumberland, Iowa Guthrie County National Bank, Panora, IowaFirst National Bank, Royalton, Minn First National Bank, Pepin, Wis First National Bank, Woonsocket, S. Dak Peoples National Bank, Bennettsville, S. C _ _ First National Bank, Eldorado, 111 _ - First National Bank, Adrian, Minn First National Bank, Colman, S. Dak First National Bank, Waubay, S. Dak First National Bank, Akron, Colo Oakes National Bank, Oakes, N. Dak__ National Farmers Bank, Owatonna, Minn Anamoose National Bank, Anamoose, N . Dak_ First National Bank, Veblen, S. Dak Charter No. Date Capital Total dividends paid during existence as a national banking association Failures Receiver appointed Capital 10683 8369 8358 2363 9014 10015 11606 9244 4882 8086 9789 10730 11460 12600 6154 5355 5539 9158 7742 Dec. Aug. Aug. May Oct. May Feb. Aug. Mar. Dec. May Apr. Sept. Nov. Feb. May Aug. May Apr. 26,1914 31,1906 7,1906 5,1877 25,1907 13,1911 5,1920 28,1908 1,1893 20,1905 26,1910 16,1913 17,1919 6,1924 24,1902 1,1900 3,1900 12,1908 11,1905 $25,000 50,000 50,000 50,000 25,000 25,000 25,000 60,000 50,000 100,000 30,000 25,000 25,000 50,000 25,000 25,000 35,000 25,000 50,000 $16,250.00 80,000.00 116,000.00 417,000.00 61,800.00 23,000.00 91,860.00 132,687.50 206,000.00 18,300.00 15,000.00 2,000.00 1,000.00 48,250.00 154,875.00 120,400.00 52,000.00 28,350.00 $25,000 50,000 100,000 50,000 80,000 25,000 25,000 60,000 62,500 100,000 30,000 25,000 25,000 50,000 25,000 50,000 35,000 200,000 35,000 9301 7326 3226 6731 10725 5946 10743 7539 7960 6688 6124 8548 6988 4928 9390 9858 Nov. June July Apr. Apr. Aug. May Dec. Oct. Feb. Jan. Feb. Mar. May Mar. Aug. 14,1908 17,1904 9,1884 9,1903 7,1915 6,1901 21,1915 17,1904 7,1905 20,1903 31,1902 4,1907 21,1903 29,1893 24,1909 16,1910 50,000 25,000 50,000 25,000 25,000 25,000 50,000 25,000 35,000 25,000 25,000 25,000 25,000 80,000 25,000 25,000 111, 500.00 66,750.00 273,900.00 37,500.00 15,500.00 98,050.00 27,400.00 75,250.00 49,000.00 62,400.00 42,500.00 129,250.00 26,000.00 199,200.00 41,750.00 46,975.00 50,000 25,000 50,000 25,000 25,000 50,000 50,000 50,000 35,000 25,000 25,000 40,000 25,000 75,000 25,000 40,000 Apr. 12,1926 _do Apr. 24,1926 May 13,1926 May 22,1926 May 26,1926 May 27,1926 June 2,1926 June 3,1926 June 4,1926 do_ June 16,1926 June 22,1926 July 2,1926 July 6,1926 do— July 8,1926 July 9,1926 July 14,1926 - do July 22,1926 do do July 23,1926 do July 27,1926 Aug. 6,1926 Aug. 16,1926 Aug. 19,1926 Aug. 20,1926 Aug. 26,1926 Sept. 4,1926 Sept. 10,1926 Sept. 18,1926 do_ Apparent cause of failure C C c c Circulation Lawful outstanding money at date of deposited failure $97,700.00 A c A C A C A A A C B C C C A A C C C A C C B C C C C C AC AC C 60,000.00 9,800.00 $50,000.00 97,700.00 20,000.00 78,700.00 6,250.00 60,000.00 49,000. 00 40,000. 00 8,000.00 23,800. 00 24,000.00 9,800. 00 10, 000. 00 5,950.00 49,100. 00 11, 600. 00 15,000.00 49,100. 00 34,997. 50 24,500. 00 6,250.00 19,800.00 24,500. 00 74, 550. 00 24,400. 00 9, 700. 00 Total deposits at date of suspension $235,288 258,931 277,896 690, 033 391,138 25,182 67, 530 502,030 272,920 419,317 75,935 126,025 294,947 433,771 292,337 351,858 411,089 to B 1 O w o 230,596 162,551 149,410 387,988 334,020 251,640 195,852 209,970 285,868 256,949 262,019 171,508 282,358 216,250 1,446,671 84,022 141,176 H § K Farmers National Bank in Lidgerwood, N. Dak_.._ ._ 12743 Farmers & Merchants National Bank, Merced, Calif. — 10352 12668 National Security Bank, Fairfax, S. C First National Bank, Lake Norden, S. Dak__ 10714 First National Bank, Fulda, Minn___ _ 6054 First National Bank, Boswell, Okla__ __- 7651 National Bank of Franklin, Franklin, Tenn__ 1834 Farmers & Merchants National Bank, Lake City, S. C __._ 10681 City National Bank, Bismarck, N. Dak 9622 American National Bank, Atoka, Okla_ _ 8994 England National Bank, Little Rock, Ark_ _ _ 9037 10424 First National Bank, Broken Bow, Okla First National Bank, Haworth, Okla_ _. 10500 First National Bank, Clearbrook, Minn 11392 First National Bank, Toledo, Iowa ____ 6432 10830 First National Bank, Gonvick, Minn__ 8409 First National Bank, Kingsburg, Calif 10862 First National Bank, Brandon, Minn 9251 First National Bank, Ackerman, Miss 6473 First National Bank, Milbank, S. Dak 5442 First National Bank, Armstrong, Iowa Citizens National Bank, Spencer, Iowa _ 6941 2617 State National Bank, Austin, Tex__ 10909 First National Bank, Wilder, Idaho___ First National Bank, Detroit Lakes, Minn___ 3426 10238 First National Bank, Terril, Iowa 8997 First National Bank, Steele, N. Dak Standard National Bank, Washington, D. C _ . 12139 10647 Citizens National Bank, Petty, Tex Farmers National Bank, Manor, Tex __ 7146 3112 Clarinda National Bank, Clarinda, Iowa 11122 First National Bank, Marked Tree, Ark 4859 First National Bank, St. James, Minn 6312 First National Bank, Leeds, N. Dak Farmers National Bank, Brookings, S. Dak.. 6462 7126 First National Bank, Alta, Iowa First National Bank, Elkton, S. Dak _ 6368 Planters National Bank, Honey Grove, Tex_ 4112 First National Bank, New Hampton, Iowa__ 2588 7727 First National Bank, Hannaford, N. Dak 2247 First National Bank, Malvern, Iowa 9472 First National Bank, Stanley, N. Dak First National Bank, Haleyville, Ala 11613 National Bank of Oakesdale, Oakesdale, Wash. 9150 10867 Farmers National Bank, Newport, Ark 1914 First National Bank, Plattsmouth, Nebr 8699 First National Bank, Adair, Iowa First National Bank, University Place, Nebr. 7737 Story City National Bank, Story City, Iowa. _ 10222 Citizens National Bank, Ortonville, Minn... 6747 May 11,1925 Jan. Mar. Mar. Dec. Feb. May 25,000 Sept. 21,1926 25,000 4,1913 23,1925 3,1915 14,1901 16,1905 25,1871 100,000 25,000 25,000 25,000 35,000 60,000 Dec. 26,1914 Nov. 12,1909 Dec. 26,1907 Feb. 6,1908 July 3,1913 Mar. 13,1914 June 30,1919 Aug. 19,1902 Feb. 23,1916 Sept. 14,1906 May 31,1916 Aug. 17,1908 Oct. 16,1902 May 1,1900 Aug. 11,1903 Jan. 3,1882 Sept. 23,1916 Dec. 21,1885 July 17,1912 Jan. 7,1908 Mar. 17,1922 Oct. 15,1914 Feb. 6,1904 Dec. 26,1883 Dec. 17,1917 Jan. 30,1893 June 9,1902 Aug. 29,1902 Jan. 21,1904 July 19,1902 Aug. 14,1889 May 3,1880 Apr. 21,1905 Feb. 9,1875 June 15,1909 Feb. 9,1920 Apr. 25,1908 June 6,1916 Dec. 12,1871 Apr. 29,1907 Apr. 17,1905 June 24,1912 Apr. 18,1903 100,000 50,000 25,000 100,000 25,000 25,000 25,000 50,000 25,000 25,000 25,000 25,000 25,000 50,000 50,000 100,000 25,000 50,000 25,000 25,000 200,000 50,000 25,000 50,000 25,000 50,000 25,000 50,000 50,000 25,000 75,000 50,000 25,000 50,000 25,000 25,000 25,000 50,000 50, 000 25,000 25,000 40, 000 25,000 26,000.00 18,250. 00 84,562. 50 75,447.00 592,150.00 82,000.00 23, 500.00 27,125. 00 283,000.00 42,000.00 11,250. 00 5,250.00 225,375. 00 20,850. 00 68,500. 00 21, 500. 00 15, 750. 00 118, 797. 39 89, 500. 00 175,750. 00 610,000.00 1,250. 00 218,000.00 29,250. 00 77,500.00 33,100. 00 87,000.00 206,817.64 14,600. 35 162,000.00 35,000. 00 83, 050. 00 111, 500.00 47,250. 00 272, 250. 00 167,250. 00 64,000.00 272,000. 00 27,000.00 6,000. 00 33,250.00 21,000.00 276,000.00 51,427.38 56,600.00 22,000.00 54,500.00 100,000 Sept. 23,1926 25,000 Oct. 1,1926 35,000 Oct. 5,1926 25,000 Oct. 7,1926 50,000 Oct. 8,1926 100,000 Oct. 18,1926 100,000 50,000 25,000 300,000 25,000 25,000 25,000 85,000 25,000 50,000 25, 000 25,000 50,000 50,000 100,000 100,000 25,000 50,000 25,000 25,000 200,000 37,000 40,000 50,000 50,000 50,000 25,000 50,000 50,000 25,000 100, 000 50,000 25,000 50,000 25,000 25,000 25,000 50,000 50,000 35,000 40,000 40,000 25,000 do__ do Nov. 1,1926 —.do . Nov. 2,1926 do do Nov. 3,1926 Nov. 5,1926 Nov. 9,1926 Nov. 11,1926 Nov. 12,1926 Nov. 15,1926 Nov. 17,1926 Nov. 19,1926 Nov. 20,1926 Nov. 22,1926 Nov. 23,1926 do do__ Nov. 24,1926 Nov. 26,1926 Nov. 29,1926 Nov. 30,1926 . .do Dec. 1,1926 Dec. 3,1926 do do Dec. 6,1926 Dec. 9,1926 Dec. 10,1926 _ do _ _Dec. 15,1926 Dec. 17,1926 Dec. 21,1926 do do _ Dec. 27,1926 Dec. 29,1926 Jan. 3,1927 Jan. 4,1927 A B C A C C B C A C D A C C C C A AC C AC C AC C C A B C D C C A C C A C C C . C AC C A C A A C AB AC A C AB 280,454 96,600.00 1,128,135 30,680 236,796 325,328 264, 025 468,950 97,600.00 49,400.00 23,600. 00 719, 644 849,178 88,780 i 5,950.00 97,796 88,516 110, 669 419, 005 165, 807 440,180 135, 748 50, 502 332,973 267,387 466, 656 952,660 114,062 708, 512 279, 722 267,985 o o 35, 000. 00 24,500.00 49,400.00 83,800. 00 25, 000. 00 98,600 24, 300. 00 83,800. 00 24,400. 00 24, 750. 00 25, 000.00 38,500. 00 49,500. 00 49,295. 00 98,600.00 24,600. 00 25,000. 00 43,200. 00 24, 750. 00 49, 500. 00 48,300.00 50,000.00 24, 700. 00 49,200. 00 48,695. 00 25, 000. 00 18,400. 00 43, 200. 00 24, 600. 00 12, 500.00 6,250.00 25,000. 00 48,600.00 8,750. 00 29, 600. 00 15,400.00 60,141 91,871 599,132 107, 658 469, 278 128,672 986, 711 453, 681 244,641 213,872 143,183 231, 793 196,761 135,382 92,829 265, 200 287,703 198,284 151,441 216,383 265,030 3 O LE No. TABLE NO. 39.—National banks in charge of receivers, year ended October SI, 1927, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension—Continued Organization N a m e a n d location of b a n k 1880 First National B a n k , Collinsville, Okla 1081 Citizens National B a n k , Royal, Iowa 1082 First National Bank, Carlyle, Mont.. 1083 Monticello National Bank, Monticello, I n d . . . _ 1084 First National Bank, Cardwell, M o . . 1085 First National Bank, Nevada, Iowa 1086 First National Bank, Granger, Tex _ 1087 First National Bank, Ren wick, Iowa L088 First National Bank, Moulton, Iowa L089 First National Bank, Delano, Calif1090 National Bank of Jerseyville, Jerseyville, 111.. 1091 First National Bank, Argyle, Minn._ L092 First National Bank, Boyceville, Wis. 1093 Citizens National Bank, Commerce, Tex 1094 Citizens National Bank, Lone Oak, Tex 1095 First National Bank, Beardsley, Minn L096 Farmers National Bank, Red Lake Falls, Minn 1097 First National Bank, Biggsville, HI. L098 First National Bank, Edgeley, N . Dak L099 Farmers National Bank of Lidgerwood, N Dak L100 First National Bank, Britt, Iowa 1101 Marion County National Bank, Knoxville, Iowa__ __ _ L102 First National Bank, Montevideo, Minn L103 Peoples First National Bank, Olivia, M i n n . . . L104 First National Bank, Lincoln, Ark__ _ L105 First National Bank, Clinton, M i n n . . . L106 Citizens National Bank, Albert Lea, M i n n . . . 1107 First National Bank, Marengo, Iowa L108 First National Bank, Allegan, Mich.. 1109 First National Bank, Rolette, N . Dak._ L110 Farmers & Merchants National Bank, Mount Morris, Pa 1111 First National Bank, Rush City, Minn L112 Central National Bank, Marietta, Ohio Charter No. Date Capital Total dividends paid during existence as a national banking association Failures Capital Receiver appointed Apparent cause of failure" 37,000.00 $25,000 35,000 25,000 50,000 50,000 75,000 35,000 25,000 35,000 100,000 50,000 50,000 25,000 50,000 25,000 25,000 5,1927 do__ Jan. 7,1927 do Jan. 8,1927 Jan. 10,1927 Jan. 12,1927 Jan. 13,1927 Jan. 14,1927 do Jan. 15,1927 Jan. 18,1927 do__ Jan. 20,1927 do__ Jan. 21,1927 C C C B C C C C C AC B C AB AC C C 25,000 50,000 25,000 16,500.00 230,000.00 170,050.00 25,000 50,000 85,000 Jan. 24,1927 Jan. 31,1927 do A C AC 35,000 50,000 67,250.00 172,250.00 50,000 50,000 Feb. 1,1927 do C C 12,1872 25,1903 25,1908 27,1920 13,1904 22,1902 25,1880 11,1871 24,1905 50,000 30,000 25,000 25,000 25,000 50,000 50,000 50,000 25,000 399,100.00 77,000.00 40,000.00 8,500.00 70,250.00 110,000.00 277,500.00 272,050.00 18,000.00 60,000 50,000 25,000 25,000 25,000 50,000 65,000 50,000 25,000 Feb. 1,1927 Feb. 5,1927 do Feb. 9,1927 Feb. 10,1927 Feb. 18,1927 do do Feb. 19,1927 C AC AC B C AC C BA C 6983 Sept. 22,1903 6954 Aug. 1,1903 5212 May 29,1899 25,000 25,000 100,000 29,000.00 64,500.00 245,000.00 25,000 Feb. 21,1927 50,000 . . . . . d o 300,000 Feb. 24,1927 A AC C 20,1911 10,1913 23,1916 10,1902 15,1921 3,1881 11,1902 24,1905 5,1900 1,1908 31,1894 18,1901 8,1917 10,1925 18,1925 7,1904 $25,000 25,000 25,000 25,000 50,000 50,000 35,000 25,000 25,000 25,000 50,000 25,000 25,000 50,000 25,000 25,000 $25,500.00 19, 750.00 9837 July 19,1910 3003 Apr. 10,1883 7914 Aug. 29,1905 8230 Apr. 30,1906 5020 Aug. 13,1895 9965 10395 10934 6172 11919 2555 6361 7988 5319 9195 41)52 5907 11128 12778 12760 7438 1986 6860 9063 11825 7161 6128 2484 1829 7866 Mar. Apr. Nov. Mar. Jan. Aug. July Nov. Apr. July Mar. June Dec. June May July Apr. May Feb. July Feb. Jan. May May July 88,000.00 4,000.00 287,250.00 123,935. 00 15,250.00 111, 100.00 69,500.00 97,500.00 112,500.00 4,750.00 Jan. Lawful money deposited Circulation Total outstanding deposits at at date of date of suspension failure $6,500.00 23,700.00 $48,600.00 48,600,00 24,997.50 24,700.00 15,300. 00 48,600.00 123,428 50,835 273,196 44,300.00 708,295 57,095.00 29,495.00 6,250.00 11,600,00 20,000.00 49,397.50 49,600.00 46,900.00 12,500.00 523,373 626,407 296,939 76,455 162,825 887,404 755,896 581,948 153,926 24,500.00 48,400.00 296,700.00 310,148 388,120 1,957,190 24,700.00 5,000.00 15,300. 00 57,095.00 296,700.00 $302,024 177,897 24,886 37,397 273,261 433,459 86,793 162,500 554,394 373,698 131,176 172,278 79,333 79,914 252,056 73,300.00 8,300.00 6,250.00 33,800.00 96,400.00 24,400.00 3 o w 3 American National Bank, Stigler, Okla , First National Bank, Belle Plaine, Iowa First National Bank, Dunbar, Pa Exchange National Bank, Leon, Iowa Warren National Bank, Franklin, Ohio First National Bank, Warsaw, N. C First National Bank, Hartley, Iowa First National Bank, Norway, Iowa United States National Bank, Dinuba, Calif. First National Bank, Lepanto, Ark Provident National Bank, W7aco, Tex First National Bank of Benson, Hollsopple, Pa_ First National Bank, Sheldon, Iowa American National Bank, Green City, Mo.., Geneva National Bank, Geneva, N. Y First National Bank, Columbia City, Ind First National Bank, Fairfax, S. C First National Bank, Lake Worth, Fla First National Bank, Lake Mills, Iowa First National Bank, Lineville, Iowa First National Bank, Bend, Oreg New First National Bank in Lamberton, Minn First National Bank, Dubois, Idaho First National Bank, Biwabik, Minn Farmers & Merchants National Bank, Cleburne, Tex City National Bank in Kearney, Nebr Laurel National Bank, Laurel, Nebr Farmers & Merchants National Bank, Alcester, S. Dak First National Bank, Grafton, N. D First National Bank, Mansfield, Tex Stockmens National Bank, Nampa, Idaho First National Bank, Chowchilla, Calif Merchants National Bank, Greene, Iowa First National Bank, Kennebec, S. Dak First National Bank, Medaryville, Ind First National Bank, Spencer, Iowa First National Bank, Farmersville, 111 First National Bank, Lamberton, Minn Peoples National Bank, Waukon, Iowa First National Bank, East Grand Forks, Minn_— __ _ Fayette City National Bank, Fayette City, Pa._ First National Bank, Webster, Pa National Bank of Fayetteville, Fayetteville* N. C __•_. First National Bank, Bishop, Calif Citizens National Bank, Waynesburg, Pa First National Bank, Corydon, Iowa.. _ 7432 2012 7576 5489 8000 11767 4881 7287 9156 11322 4309 Sept. May Jan. June Oct. June Feb. May May Mar. Mar. 14.1904 31,1872 7935 3848 8570 949 7132 10979 11716 5123 7261 9363 June Feb. Feb. Feb. Feb. Apr. Apr. Feb. Apr. Jan. 12,875.00 16, 500.00 198,450.00 26,500.00 52,000.00 3,500.00 1,320,000.00 Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. Mar. 25,000 50,000 25,000 200,000 50,000 25,000 30,000 50,000 25,000 25,000 20,625.00 293, 500.00 60,834. 41 980,625.00 171,000.00 8, 500.00 36, 500.00 33,000.00 42,250.00 75,260.00 75,000 150,000 45,000 300,000 100,000 50,000 100,000 50,000 25,000 100,000 Mar. 28,1927 Mar. 29,1927 Mar. 31,1927 do do Apr. 1,1927 'Apr. 2,1927 Apr. 8,1927 Apr. 9,1927 Apr. 29,1927 D AC C AC C AC Oct. 13,1925 Oct. 27,1919 Apr. 2,1907 25,000 25,000 25,000 1,250.00 33,097.87 25,000 25,000 25,000 Apr. 30,1927 May 5,1927 May 10,1927 4386 13013 9979 M a y 26,1890 Dec. 3,1926 Mar. 21,1911 100,000 150,000 40,000 346,000.00 100,000 150,000 65,000 10818 2840 7201 11609 10978 6880 10098 8537 3898 10057 7221 10207 Dec. Nov. Mar. Jan. Mar. June Sept. Jan. May Feb. Apr. May 30,1915 14,1882 8,1904 22,1920 29,1917 23,1903 20,1911 23,1907 43,750.00 296, 500.00 55,625.00 4.1911 2,1904 1.1912 25,000 50,000 25,000 75,000 25,000 50,000 25,000 25,000 60,000 25,000 25,000 50,000 4638 Sept. 7,1891 50,000 6800 May 16,1903 June 20,1903 5677 10999 4267 10146 Dec. 12,1900 Nov. 21,1916 Jan. 15,1890 Feb. 16,1912 23.1905 8,1888 13,1907 27,1865 2,1904 3,1917 19.1920 21,1898 23,1904 23,1909 12844 11508 8697 12,500.00 369,800.00 61,000.00 1,1927 3,1927 7,1927 9,1927 11,1927 17,1927 22,1927 23,1927 25,1927 do Mar. 26,1927 C AC A r B C AC 25,000 60,000 50,000 35,000 25,000 50,000 75,000 25,000 50,000 35,000 300,000 25,000 50,000 50,000 35,000 25,000 50,000 50,000 25,000 25,000 35,000 300,000 20.1905 20,1900 12,1905 21,1920 22,1893 23.1904 2,1908 19.1919 31,1890 24,500.00 59,100.00 48,100.00 34, 500.00 23,700.00 45,800.00 49,600.00 25,000.00 24,500.00 r AC 0 50,000.00 c A c c 276,557 805,991 366,597 327, 595 70,057 187, 738 275,645 170,735 443,221 108,211 50,000.00 24,400.00 99,100.00 43,597. 50 196,240 777, 551 239,124 94,200.00 1,010,867 32,300.00 49,497.50 24,300.00 12,500.00 1,358,878 358,762 205,239 1,264,073 H C C AB 25,000.00 24, 700.00 203,614 121,571 317,100 i May 11,1927 May 14,1927 do . O A C 98,250.00 90,800.00 40,000.00 491,081 1,868,476 524,225 50,000 50,000 25,000 75,000 25,000 50,000 50,000 25,000 150,000 25,000 50,000 125,000 May 17,1927 May 25,1927 do May 27,1927 May 28,1927 June 4,1927 June 20,1927 June 24,1927 June 25,1927 June 29,1927 July 6,1927 July 19,1927 C B B AC AC A C A AC C C E 123,200.00 529,744 138,000.00 50,000 July 28,1927 A 37,497. 50 481,789 75,000 25,000 161,250.00 43,125.00 75,000 25,000 AB A 69,400.00 24,100.00 50,000 25,000 50,000 75,000 175, 500.00 126,000.00 1, 565,000. 00 117, 750.00 100,000 50,000 500,000 75,000 do Aug. 8,1927 Aug. 12,1927 Aug. 15,1927 Aug. 17,1927 Aug. 18,1927 A C A D 275,000.00 72,900.00 29,200.00 2,750.00 82,000. 00 27,000.00 27,000.00 295, 700.00 11, 875. 00 96,250.00 49, 600.00 12, 500,00 24, 700.00 6,100. 00 24,300.00 24,990.00 49,000.00 72,900.00 396,354 866,808 70, 761 891,842 215, 524 232,155 76,692 E 855,375 94,295 2 TABLE N O . 39.—National banks in charge of receivers, year ended October SI, 1927, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, circulation outstanding at date of failure, lawful money deposited with Treasurer of the United States to redeem circulation, and total deposits at date of suspension—Continued Organization Name and location of bank 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 Charter No. First National Bank, Sheridan, Ind __ __ 5296 First National Bank, Spirit Lake, Iowa 4758 First National Bank, In wood, Iowa 7304 First National Bank, Tabor, Iowa 4609 First National Bank, Hawarden, Iowa _ _ _ 4594 Farmers National Bank, Odell, 111 9624 Central National Bank, Kearney, Nebr 6600 City National Bank of Kearney, Nebr ___ 3958 First National Bank, Mallard, Iowa 10562 First National Bank, Bancroft, Iowa 5643 First National Bank in Sallisaw, Okla 7571 First National Bank, Muldrow, Okla 9975 National Bank of La Grange, La Grange, Ind_. 4972 First National Bank, Swea City, Iowa 5637 First National Bank, Milburn, Okla 9920 Date Apr. June May July June Nov. Jan. Dec. May Nov. Jan. Mar. July Oct. Jan. 2,1900 7,1892 23,1904 1,1891 15,1891 29,1909 26,1903 26,1888 19,1914 10,1900 3,1905 25,1911 12,1894 24,1900 3,1911 Failures Total dividends paid Capital $45,000 50,000 25,000 50,000 75,000 25,000 50,000 100,000 25,000 50,000 50,000 25,000 50,000 25,000 25,000 during existence as a national banking association $190,171. 50 185,333. 44 121,000.00 94,750.00 306,720.00 19,250. 00 117,500.00 20,500.00 95,000.00 95,000.00 56,250.00 201,750.00 51,750.00 43, 750.00 Capital $75,000 50,000 50,000 25,000 50,000 25,000 50,000 100,000 25,000 50,000 50,000 25,000 100,000 25,000 25.000 23,217, 500 56,149,932. 61 34,059, 500 A B C D E Incompetent management. Dishonesty. Local financial depression from unforeseen agricultural or industrial disaster. Formerly in voluntary liquidation. Information not available. Receiver appointed Aug. 18,1927 Aug. 25,1927 Sept. 6,1927 Sept. 14,1927 Sept. 15,1927 Sept. 21,1927 Sept. 30,1927 do Oct. 3,1927 Oct. 20,1927 Oct. 24,1927 do do Oct. 29,1927 Oct. 31,1927 Lawful Apparmoney ent deposited cause of failure D C AC E AC C A A C A AC A E E E $22,400.00 4,100.00 22,400. 00 Circulation outstanding at date of failure $22,400.00 42,100.00 25,000.00 Total deposits at date of suspension $182,242 25,000.00 50,000.00 48,800.00 24,400.00 49,300.00 24,600.00 16,250.00 11,356,987.00 17,501,950.00 190, 517,957 J>£ QQ 250 BEPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 81, 1927 Title and location of banks 469 513 542 549 554 593 597 598 599 600 601 605 606 610 611 612 613 615 616 619 620 625 626 628 632 633 634 635 640 642 643 645 648 649 650 652 654 655 656 658 660 662 663 664 665 666 667 668 669 670 671 672 673 674 675 677 678 679 680 681 683 687 688 689 691 693 Farmers & Drovers National Bank, Waynesburg, P a . . First National Bank, Billings, Mont First National Bank, Pensacola, Fla.._ _ First National Bank, Sutton, W. Va__ First National Bank, Uniontown, Pa First National Bank, Eureka, S. Dak_ First National Bank, Towner, N . Dak First National Bank, Hearne, Tex Farmers National Bank, Cooper, Tex_ First National Bank, Gridley, Calif.-^ First National Bank, Cut Bank, Mont _ Picher National Bank, Picher, Okla. _ First National Bank, Ranger, Tex First National Bank, Beaver, Pa Corn Belt National Bank, Scotland, S. Dak First National Bank, Ambia, Ind First National Bank, Desdemona, T e x . . . First National Bank, Sipe Springs, Tex First National Bank, Marcus, Iowa_-_ _ First National Bank, Bridgeport, Nebr Bannock National Bank, Pocatello, Idaho Havre National Bank, Havre, Mont._ First National Bank, Joplin, Mont National Bank of Cleburne, Cleburne, Tex United States National, Vale, Oreg __ First National Bank, Vale, Oreg.. First National Bank, Burley, Idaho Edwards National Bank, Booker, Tex First National Bank, Wendell, Idaho Stockmans National Bank, Poplar, Mont__ Stillwater Valley National Bank, Absarokee, Mont National City Bank, Salt Lake City, Utah First National Bank, Myton, Utah. _. State National Bank, Ardmore, Okla.. Corydon National Bank, Cory don, Ind.__ ... First National Bank, Oak Grove, La _ First National Bank, Spencer, Nebr_._ First National Bank, Ingomar, Mont. American National Bank, Billings, Mont Merchants National Bank, Wimbledon, N . Dak First National Bank, Mountainair, N . Mex First National Bank, Colusa, Calif Commercial National Bank, Great Falls, Mont. Sterling National Bank, Sterling, Colo _ Payette National Bank, Payette, Idaho First National Bank, Highwood, Mont Citizens National Bank, Laurel, Mont First National Bank, Magdalena, N . Mex First National Bank, Broadview, Mont Commercial National Bank, Wilmington, N . C First National Bank, Winner, S. Dak. First National Bank, Wessington Springs, S. Dak First National Bank, Rupert, Idaho First National Bank, Warren, Mass First National Bank, Harlowton, Mont First National Bank, Clifton, Ariz Springfield National Bank, Springfield, Ohio. First National Bank, Roundup, Mont First National Bank, Gregory, S. Dak First National Bank, Bottineau, N . Dak Llano National Bank, Llano, Tex Farmers & Merchants National Bank, Jefferson, IowaCity National Bank, Jerome, Idaho First National Bank, Nampa, Idaho First National Bank, Rock River, Wyo First National Bank, Highland, Wis ___ First National Bank, Joseph, Oreg Peoples National Bank, Salisbury, N. C. First National Bank, Big Sandy, Mont Date of organization Jan. Dec. July Apr. Jan. Nov. Sept. July Sept. Mar. Oct. Feb. Jan. Feb. May July Sept. Nov. June Feb. July May Nov. May July Jan. Feb. May June Feb. Aug. Nov. Apr. May May Mar. Jan. Aug. Apr. Sept. Apr. July Apr. May Jan. Dec. May Aug. Nov. Apr. Dec. Sept. July Nov. Oct. May Jan. May Feb. Dec. Jan. Dec. Dec. Sept. Apr. June Dec. Mar. May 30,1865 3,1883 10,1880 7,1902 2,1864 18,1919 29.1905 5,1894 24,1914 14,1918 5,1900 3,1920 26.1906 10,1888 28,1917 30.1909 2,1919 6,1919 22.1910 23,1910 15,1902 18,1910 11,1916 8,1909 14,1907 20.1913 4.1919 30,1909 17, 1917 11,1917 19,1912 10,1920 6,1913 23.1905 2.1920 18.1904 16,1919 5.1920 17.1907 3,1919 1,1911 20.1914 2.1921 9.1906 29,1917 3.1907 27.1912 26.1915 17,1922 15,1917 25,1902 29.1913 14,1919 27.1908 14,1901 17,1882 22,1908 22.1907 17,1901 5,1901 28,1911 22,1919 15.1906 24,1919 14.1916 11.1905 10.1908 9,1917 Capital stock at suspension $200,000 150, 000 500,000 50,000 100,000 50,000 25, 000 50,000 50,000 40,000 50, 000 100,000 200,000 50,000 25, 000 25, 000 25, 000 25, 000 50, 000 25,000 100, 000 50, 000 25, 000 150, 000 75, 000 50, 000 30,000 25, 000 25,000 25, 000 25, 000 250, 000 25, 000 200, 000 125, 000 50,000 100,000 25, 000 150, 000 25,000 30, 000 150, 000 200, 000 150, 000 75, 000 25,000 35, 000 50,000 25, 000 200,000 30,000 50,000 25,000 50,000 50, 000 100, 000 100, 000 50,000 50, 000 50,000 50, 000 40,000 30,000 200, 000 50,000 25,000 25, 000 100,000 25,000 Receiver appointed Dec. 12,1906 July 2,1910 Jan. 22,1914 Aug. 29,1914 Jan. 19,1915 Aug. 20,1920 Dec. 28,1920 Jan. 21,1921 Jan. 28,1921 Jan. 29,1921 do. Feb. 21,1921 Mar. 2,1921 Mar. 26,1921 Mar. 28,1921 Apr. 5,1921 Apr. 7,1921 Apr. 18,1921 M a y 18,1921 M a y 28,1921 June 11,1921 Sept. 16,1921 do. Oct. 27,1921 Nov. 15,1921 do Nov. 30,1921 Dec. 12,1921 Jan. 5,1922 Jan. 28,1922 Jan. 30,1922 Feb. 3,1922 Feb. 24,1922 Mar. 4,1922 Mar. 8,1922 M a y 13,1922 July 14,1922 Aug. 14,1922 Sept. 23,1922 Oct. 27,1922 Nov. 2,1922 Nov. 22,1922 Dec. 9,1922 Dec. 11,1922 Dec. 13,1922 Dec. 29,1922 Jan. 4,1923 Jan. 18,1923 Jan. 30,1923 Jan. 31,1923 .do. Feb. 5,1923 Feb. 7,1323 Feb. 23,1923 Mar. 7,1923 Apr. 2,1923 Apr. 5,1923 .do. Apr. 12,1923 .do. Apr. 18,1923 Apr. 27,1923 May 24,1923 June 1,1923 June 14,1923 do. do July 3,1923 July 7,1923 251 REPORT OF THE COMPTROLLER OF THE CURRENCY appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of suspension Estimated Estimated good doubtful Progress of liquidation to date of this report Additional assets received since date of Estimated worthless suspen- Total assessment of sharenoiuGrs ds 0 $814,783 $2,013,406 1,087,304 505,016 507, 052 1,488,390 80,899 310, 050 1,080, 785 2,388, 710 192,169 750, 777 40,132 66. 665 84,309 273,349 633,714 109,437 133, 615 27, 037 91,852 280, 553 177,077 133,918 741,218 1,864,464 426,383 220,623 198,069 217.255 38,298 91,391 49, 505 55,484 33,994 99,097 147,933 139,231 91,326 72,899 735,340 678,103 298,018 238,211 8,751 13,361 483,862 1,337,969 184,455 590,820 286,691 29,968 486,036 412, 057 99, 544 40,627 26,883 140,281 15, 898 102,418 139, 877 101, 355 1,367, 227 2,146, 734 40,431 36,120 913, 996 640,092 394,591 930,940 75,957 39,333 559,918 413,718 48,652 137, 880 270, 200 165,067 57,132 118, 292 22, 802 308,039 128,697 405,565 447,804 1,189,442 241,183 463,971 123,049 63, 743 27, 638 187, 644 102, 694 63, 740 101,460 354, 749 74, 842 40,657 926, 972 1,226, 912 141,052 149, 236 106, 852 223, 691 33, 782 198, 932 129,794 17, 771 81,571 90,142 210,374 194,391 167,913 1,314,132 213,681 112, 832 257,777 45,299 230, 932 182,688 112,936 172,844 117,029 63, 691 37,312 58,182 31,174 94,366 122,998 17,833 88,029 108,961 114, 303 255,458 478,878 15,951 30,367 $130,499 $2,065,909 552,201 645,470 401,444 1,073,322 35,973 27, 210 47, 999 1,023,886 178,517 32,303 222, 990 74,920 144, 913 98,181 11,163 149,356 372, 056 69,819 59, 651 43,870 67, 741 25,350 264, 810 85, 832 75,048 112,457 74, 527 50,999 68,287 18,935 56, 700 11,953 30,441 8,033 227,297 122,384 34,264 29,394 307,421 267, 642 189,443 64,091 8,121 63, 552 764, 506 139,339 154,190 114,370 62,950 76, 745 195,347 100, 727 29,140 40,852 32,406 18,072 41, 613 8,788 14, 313 22,356 863,400 80, 930 19,985 14,329 186, 364 26,058 351, 628 145, 650 19, 564 23,222 247,210 47,176 119,042 19,961 309,219 80,647 21,981 28,908 802 20,414 402,098 156,002 424,765 228,638 270,603 58,183 45, 728 168,413 37,428 25,114 18,396 205, 526 54, 724 37,683 10, 229 39, 793 548, 872 234,147 53, 935 35, 995 60, 909 382,175 186, 403 29,689 48, 614 2,118 405, 582 69, 796 211,101 54, 288 272,028 43, 730 451,201 141,348 63, 798 13, 936 33,330 36,049 141,127 154,162 33,066 24,602 42,676 12, 622 179, 530 21, 854 66,034 57,610 28,640 30,980 138,678 41,134 575,563 60; 729 41,592 3,367 $200,000 150,000 500,000 50,000 50,000 25,000 50,000 50,000 40,000 50,000 100,000 200,000 50,000 25,000 25,000 25, 000 25,000 50,000 25, 000 100,000 50,000 25,000 150,000 75,000 50,000 30,000 25,000 25,000 25,000 25,000 250,000 25,000 200,000 125,000 50,000 100,000 25,000 150,000 25,000 30,000 150,000 200,000 150,000 75,000 25,000 35,000 50,000 25,000 200,000 30,000 50,000 25,000 50,000 50, 000 100,000 100,000 50,000 50,000 50,000 50,000 40,000 30,000 200,000 50,000 25,000 25,000 100,000 25,000 Total assets and stock assessment Cash collected from assets $5,224,597 $1,601,557 2,939,991 1,894,601 1,813,650 3,970,208 504,132 395,327 4,541,380 3,505,987 1,203, 766 822,223 429, 707 122,809 650, 752 369,049 953, 670 6,074 642, 527 278,651 525,926 173,405 504,086 157, 582 3,156,324 1,530,378 884, 511 491,091 282,305 565,850 241,911 111,358 198,642 45,366 196, 565 51,542 686,845 381, 409 252,883 115,132 2,088, 506 1,033, 542 839, 763 356,462 118, 785 40,474 2,875, 676 1,257,014 1,118,835 546,412 506, 354 202, 646 1,224,167 392, 309 235,163 140,628 242,642 119,862 193, 717 51, 853 302,901 157,961 4.708,291 3,097, 504 135,865 32, 539 1,966,510 870,957 1,947,809 1,289,157 208,076 53,825 1,368,022 424,365 350, 535 105, 640 975,133 211,169 251,313 87,051 382,057 129,423 1, 242, 362 629, 277 2,490,649 920,844 1,183,940 443,369 475,933 168, 925 302, 824 116,061 425,356 132, 672 598, 616 204, 885 190,521 56,098 3,136,903 588,711 410,218 176,966 823, 627 324,516 473,806 171,399 £48, 297 172,690 697,091 161,949 770,154 252,703 1,897,803 1,419, 713 969,062 299, 981 430, 810 115, 300 208, 828 532, 999 631,069 131, 588 108, 726 278,388 180,792 93,113 432, 558 52, 685 391,008 118,006 190,482 91,544 428,076 214, 755 1,470,628 660, 531 116,277 35, 504 Cash collected from stock assessment 469 513 542 549 554 593 28,750 597 16,200 36,046 598 46,900 599 19, 798 600 5,850 601 27, 988 605 17,835 606 40,613 610 15,444 611 19,266 612 3,724 613 13,768 615 20,274 616 3,000 619 40,409 620 13, 633 625 7,157 626 46, 545 628 9,900 632 16, 709 633 11, 536 634 10,017 635 5,177 640 614 642 3,625 643 189,410 645 12,466 648 74,996 649 36,945 650 13,550 652 7,647 654 4,909 655 50,708 656 11,303 658 10,463 660 13V,037 6f>2 178,888 663 73,598 664 41, 898 665 6,707 666 3,900 667 11, 509 668 669 12,500 98,083 670 14,000 671 4,588 672 4,139 673 674 19,500 30,569 675 56,673 677 100,000 | 678 17,587 679 680 681 5,328 10,183 683 684 21,600 6,196 685 6,000 686 687 20, 599 8,300 688 11,009 689 68,322 691 $149,270 7,500 73,805 25,180 875 693 252 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Progress of liquidation to date of this report Offsets allowed and settled 469 513 542 549 554 593 597 598 599 600 601 605 606 610 611 612 613 615 616 619 620 625 626 628 632 633 634 635 640 642 643 645 648 649 650 652 654 655 655 658 660 662 663 664 665 666 667 670 671 672 673 674 675 677 678 679 680 681 683 684 685 686 689 691 693 $546, 299 218,280 647, 368 12, 883 330, 370 96,311 57, 561 20,192 794, 387 30, 651 40,982 11,372 277,235 73, 562 54,217 38,132 5,191 7,422 10, 632 12,812 94,441 30, 695 1,734 370,366 17,815 16,654 106, 214 13,494 16, 054 768 7,186 150,906 5,415 117, 925 81,094 36,703 85,124 12,859 13,493 14,179 18, 922 43,186 61,209 26,233 4,205 10,337 75,066 9,078 773, 794 22, 552 9,723 6,158 12, 733 22, 827 54, 363 221, 864 50, 274 20, 221 31, 463 159,195 7,903 15,042 160 67,925 12, 095 5,318 111, 213 Total collected from all sources, including Loss on assets comRemaining Assets pounded Remaining uncollect- returned or sold ed stock to shareuncollected under assessholders' order of ment court $2,297,126 2,120, 381 2,534. 823 433, 390 3, 836, 357 947, 284 196, 570 425, 287 847, 361 329,100 220, 237 196, 942 1,825. 448 605, 266 351, 966 168, 756 54.281 72, 732 412, 315 130, 944 1,168, 392 400, 790 49, 365 1,673, 925 574,127 236, 009 510, 059 164,139 141, 093 53, 235 168, 772 3,437, 820 50, 420 1,063, 878 1,407,196 104,078 517,136 123,408 275,370 112, 533 158, 808 809, 500 1,306,015 578,176 237,056 126, 973 146, 909 291,460 77, 676 1,460, 588 213,518 338, 827 181,696 204, 923 215,345 363, 739 1,741, 577 367, 842 135, 521 245, 619 300, 966 138, 229 114, 351 58, 845 196, 530 111,939 231, 082 840, 066 40,275 $1,424, 282 131, 667 1,009,190 16, 668 199,167 182,446 224,337 190, 498 103,209 97, 854 113, 959 77, 750 452, 087 36,424 79,357 67,421 123, 085 20, 552 56, 841 27, 525 573,833 47, 207 51, 577 849, 207 479,608 141, 253 695, 644 56,041 81, 726 3,473 20, 408 14, 098 64,189 417,818 32,107 719,154 31,590 37,299 52, 890 419,899 165, 514 232,037 71,389 13,369 7,316 268, 665 31, 020 171, 600 18, 223 62, 637 271,249 10, 425 207, 832 363, 088 156,226 166,604 7,875 242,148 148,677 44,818 24,120 179, 713 132, 557 84, 691 110,067 51, 877 $1,452,459 545, 443 29, 254 505, 856 52, 786 21, 013 195, 371 147, 580 157, 382 696, 624 233, 434 124. 971 92, 049 187, 963 72, 414 286, 690 355, 399 249, 089 112, 623 92,346 1,011,489 58, 813 713,439 34, 740 35,441 39,379 175,446 600,471 87, 784 150, 822 $50, 730 142, 500 426,195 24, 820 21,250 8,800 13, 954 3,100 20, 202 44,150 72, 012 182,165 9,387 9, 556 5,734 21,276 11,232 29, 726 22,000 59, 591 36 367 17,843 103,455 65,100 33,29L 18,464 14,983 19,823 24, 386 21,375 60, 590 12, 534 125,004 88, 055 36,450 92,353 20,091 99.292 13,697 19, 537 12, 963 998,008 297,325 134,386 144,189 240,031 21,112 76,402 33,102 18.293 31,100 38,491 69,325 1,402, 798 162,477 376, 751 12, 500 101, 917 16,000 45, 412 20, 86 L 30, 500 19, 431 43, 327 2,449 254, 483 402,203 237,414 560 141,609 76, 941 18,517 32, 520 40,974 98,312 488, 817 32, 413 50,000 44, 672 39, 817 18, 400 23, 804 194,000 29, 401 16, 700 13,991 31, 678 24,125 Disposition of proceeds of liquidation Dividends paid $1,286,325 1,387, 675 1,488, 366 315, 273 1, 665, 621 463,157 73, 672 63, 643 46, 467 71, 052 225, 834 380, 919 54, 034 47,400 12, 312 43, 850 33, 695 114, 736 51, 046 5,777 155, 512 55, 342 15, 320 56,287 31, 510 18, 640 950, 300 6,834 358, 713 666. 932 42,132 25,198 188,313 365, 380 89, 831 74,635 17, 051 29,409 254, 470 14, 507 33, 699 111, 702 30, 537 66, 717 1,221,257 49, 854 95, 099 40, 578 46, 844 39, 381 30,405 49, 702 29, 874 409,962 4,368 Secured and preferred liabilities, including offsets paid $754,067 218, 420 862, 327 34, 203 1, 030, 259 249, 535 90, 851 310, 592 841, 287 233,016 164, 815 65.114 1,457,090 128, 463 172,472 88, 643 25,491 28, 359 304, 889 65.115 912, 549 285,404 27, 866 1,453, 688 482, 323 182,726 415, 299 106, 316 101,801 47,813 134, 656 2,256,451 25, 328 552, 575 589, 511 72,857 403,337 108,228 106, 237 94,055 96,580 567,956 857,284 416,126 97, 550 91,325 113,087 233,157 53, 723 964,273 146, 686 245, 844 120,913 14,343 129,155 270,001 460,421 260, 719 108, 566 90,248 213, 471 73,408 60,391 1,410 126,573 32,568 180,680 334, 240 27,402 REPORT OP THE COMPTROLLER OF THE CURRENCY 253 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash advanced in protection of assets Receiver's salary, legal, and other expenses $75,842 310,938 78,624 2,812 432, 731 124,328 1,380 14,381 $127,110 191,685 105,506 68,112 205,814 109,071 30,667 33,218 6,074 33,802 31.168 30, 585 91, 879 23,205 63,846 27, 534 12,656 21, 209 41,413 20, 929 76,639 45, 944 15.714 51,309 34,206 25, 775 38,067 26,099 19,823 4,065 22,168 85,365 15, 566 99,363 45,648 15,012 49,112 14,824 54,618 10,906 25 912 45,566 53, 662 37 182 38,138 8,221 18,246 27,513 13,433 94 851 24, 275 42, 668 19, 535 23,374 25,031 23, 777 59,879 23 814 16,497 20, 652 19 098 11, 819 16, 800 16, 358 24, 672 18,192 20,169 46, 857 8,334 450 5,816 9,206 9,356 4,911 42,538 966 1,257 2,031 4,480 1,130 1,313 9,160 8 10,527 2,256 1,051 406 214 829 151 1,287 6,989 94 35,669 55, 803 654 3,737 59 16,436 1,499 9 451 7,665 4,876 7 352 8,405 4,415 1,381 1,777 12 811 21,195 7,754 7,549 2,030 3,244 20 3 152 5,272 8,253 19 130 6,541 1,696 250 216 229 171 Cash in hands of comptroller and receiver Amount returned to shareholders in cash $53, 782 11,663 12,990 151,932 1,193 3,453 15,365 18,438 20,985 41,289 67, 768 19,076 4,213 2,565 21,133 17, 683 10,075 63,155 9,236 2,889 11,137 1,206 10,661 138,715 2,598 17, 558 49,302 7,122 18,818 '297 39,984 6,073 1,667 24,813 27 685 18,328 10,375 11,161 8 743 134 183 6,855 42,561 55 504 28,592 30 303 5,186 31,367 27 800 6,028 1,623 14, 630 11,477 143 48,778 $350,000 Amount of claims proved $1,570,643 1,850,300 •1,882, 688 350,303 1,395, 758 801,165 295,885 115, 777 15,087 439, 651 243, 528 209,012 1,230,046 634,900 347, 840 94,800 123,129 114, 258 146,167 112,324 1,002.909 459,204 44,011 2,472,259 760, 640 306, 584 945,996 57,865 78,974 79,816 118,219 1,583,146 68,356 793,436 952, 760 41,869 843, 891 165,089 580,956 170,564 251,979 235, 578 1,462,020 450 069 188, 533 228, 846 208, 426 300, 635 111,002 1,637,817 181,825 637, 672 315,882 279,256 416,046 444, 776 1,934, 491 459, 661 245,093 380,419 162,363 92, 712 57, 991 358,090 169, 314 90,371 141,048 774, 564 48, 541 Dividends (per cent) 75 75 78.35 90 100 55 24.9 42 Interest dividends (per cent) Finally closed July 18,1927 16.12 July 15,1927 June 30,1927 10 30 17 60 15 50 10 30 30 7.5 10 11.75 5 7.25 5 5.95 37.62 22 Mar. 31,1927 Oct. 31,1927 A p r . 25,1927 Sept. 13,1927 F e b . 9,1927 60 10 45 70 20 5 16 10 50.75 25 20 35 7.5 8.9 M a r . 31,1927 July 31,1927 15 8 10.6 40 6.5 15 63 13 g 25 25 45 50 11 15 55 10 50 9 J u l y 20,1927 J u l y 31,1927 Dec. 10,1926 Oct. 19,1927 M a r . 31,1927 469 513 542 549 554 593 597 598 599 600 601 605 606 610 611 612 613 615 616 619 620 625 626 628 632 633 634 635 640 642 643 645 648 649 650 652 654 655 656 658 660 662 663 664 665 666 667 668 669 670 671 672 673 674 675 677 678 679 680 681 683 684 685 686 687 688 689 691 693 254 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. 694 696 697 6D8 699 701 702 703 704 706 707 708 709 710 711 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 729 731 733 734 736 737 738 739 740 741 743 744 745 746 747 748 749 751 752 753 754 755 756 757 758 760 761 762 763 764 765 767 768 770 771 772 773 774 775 776 Title and location of banks Date of organization First National Bank, Willow City, N . Dak First National Bank, Sapulpa, Okla First National Bank, Chester, Mont .* First National Bank, Henryetta, Okla First National Bank, Carroll, Nebr First National Bank, Shelby, Mont Fairfield National Bank, Fairfield, Iowa. Howard National Bank, Howard, S. Dak Roundup National Bank, Roundup, Mont First National Bank, Oswego, Mont First National Bank, Lovington, N . Mex First National Bank, Wells, Minn-__ First National Bank, Mitchell, S. Dak Cavalier County National Bank, Langdon, N . D a k . American National Bank, Three Forks, Mont Lehigh National Bank, Lehigh, Okla City National Bank, Coalgate, Okla First National Bank, Grey Eagle, Minn First National Bank, Fairview, Mont First National Bank, Carter, Mont First National Bank, Hemingford, Nebr Union National Bank, Beloit, Kans Texas County National Bank, Guymon, Okla Tucson National Bank, Tucson, Ariz National Bank of Barnesville, Barnesville, Ohio Citizens National Bank, Roswell, N . Mex First National Bank, Lancaster, Minn First National Bank, Tolley, N . D a k Citizens National Bank, Crosby, N . Dak First National Bank, Turtle Lake, N . Dak First National Bank, Springfield, S. Dak Farmers National Bank, Tishomingo, Okla First National Bank, M a n ville, Wyo First National Bank, Woodworth, N . D a k . First National Bank, Poplar, Mont First National Bank, Lansford, N . Dak First National Bank, Forsyth, Mont Condon National Bank, Condon, Oreg.. _ First National Bank, Moore, Mont Miners National Ban, Henryetta, Okla Merchants National Bank, Mandan, N . Dak First National Bank, Webster, S. D a k . . . First National Bank, Dodson, Mont Sioux Falls National Bank, Sioux Falls, S. Dak First National Bank, Sentinel Butte, N . D a k First National Bank, Beach, N . Dak _ First National Bank, Bisbee, N . Dak National Bank of Carlsbad, Carlsbad, N . Mex Dakota National Bank, Dickinson, N . D a k . First National Bank, Lusk, Wyo First National Bank, St. John, Wash First National Bank, Warroad, Minn First National Bank, Brookings, S. Dak First National Bank, Ronan, Mont First National Bank, Harrison, N e b r . . First National Bank, Clarkston, Wash First National Bank, Carthage, S. Dak First National Bank, Onida, S. Dak "_ Commercial National Bank, Miles City, Mont Nowata National Bank, Nowata, Okla.-__. First National Bank, Castlewood, S. Dak First National Bank of Clovis, N . M e x . . . First National Bank, Charlo, Mont First National Bank, Sidney, M o n t . . . Stockmans National Bank, Fort Benton, Mont First National Bank, Fort Sumner, N . Mex Wells National Bank, Wells, Minn First National Bank, Gering, Nebr Western National Bank, Mitchell, S. Dak.._ First National Bank, Coalgate, Okla Apr. 18,1903 Aug. 19,1901 Nov. 15,1917 June 29,1903 Aug. 21,1901 Dec. 14.1916 Dec. 24.1907 Aug. 13.1915 Oct. 26,1914 Jan. 8,1918 M a y 26.1917 Dec. 12,1891 Feb. 8,1882 Jan. 28.1908 Apr. 30,1917 Feb. 14.1901 Mar. 10.1920 M a y 28,1907 Aug. 26.1921 Apr. 25.1917 July 27.1912 Mar. 24,1903 Mar. 21.1922 Feb. 21.1918 Jan. 29,1903 Apr. 20.1903 M a y 14.1919 M a y 17.1905 Apr. 14,1914 June 8,1907 Oct. 2,1907 July 23.1913 May 1,1918 Apr. 26,1919 July 28.1916 Mar. 16.1906 June 10.1904 Mar. 26.1906 Jan. 7,1907 Feb. 20.1913 Aug. 24.1914 Nov. 19.1902 Aug. 23.1917 Nov. 14.1882 Feb. 10.1915 M a y 26.1909 Apr. 1,1903 July 8,1903 Mar. 4,1905 June 23.1919 Mar. 11.1918 Aug. 4,1920 Nov. 15.1883 Aug. 31.1910 June 28.1907 Mar. 16.1903 Mar. 20.1916 Jan. 17.1920 Aug. 15,1895 Aug. 23,1902 Oct. 2,1901 June 14,1907 Feb. 26,1918 Dec. 23,1907 Dec. 24,1889 Feb. 28,1907 Apr. 6,1903 Dec. 28.1905 Sept. 12.1904 Dec. 8,1900 Capital stock at suspension $25,000 100,000 25,000 50,000 50,000 25,000 60,000 25,000 25,000 25,000 30,000 100, 000 100, 000 25,000 25,000 35,000 50,000 25,000 40,000 25,000 25,000 50,000 25,000 100,000 100,000 200,000 25,000 25,000 25,000 25,000 25,000 25, 000 25,000 25,000 25,000 25, 000 75, 000 50, 000 25,000 50,000 50, 000 25,000 25, 000 150,000 25,000 50,000 25,000 100,000 50,000 50,000 40,000 25,000 100,000 25,000 50,000 50,000 25,000 25,000 250,000 25,000 25,000 100,000 25,000 50,000 200,000 25,000 75,000 25.000 100,000 100,000 Receiver appointed July 12,1923 July 30,1923 do July 31,1923 Aug. 13,1923 Aug. 27,1923 Aug. 30,1923 Sept. 1,1923 Sept. 6,1923 Oct. 5,1923 Oct. 8,1923 Oct. 22,1923 Oct. 23,1923 Oct. 29,1923 do Nov. 8,1923 do do__ do__ Nov. 9,1923 Nov. 10,1923 Nov. 13,1923 do Nov. 14,1923 Nov. 16,1923 Nov. 19,1923 Nov. 21,1923 do do Nov. 28,1923 Dec. 6,1923 Dec. 11,1923 do. Dec. 17,1923 _—do Dec. 18,1923 do Dec. 20,1923 Dec. 21,1923 Dec. 26,1923 Jan. 2,1924 Jan. 21,1924 Jan. 24,1924 do do Jan. 28,1924 Feb. 6,1924 Feb. 7,1924 do do Feb. 9,1924 do do Feb. 12,1924 do —_do do Feb. 15,1924 Feb. 19,1924 do Feb. 20,1924 .do Feb. 26,1924 do .do do do Feb. 27,1924 do , 255 KEPORT OF THE COMPTROLLER OF THE CURRENCY appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of Progress of liquidation to date of this report suspension Estimated good Estimated doubtful Additional assets received since date of Estimated suspenworthless sion Total assessment of shareholders Total assets and stock assessment Cash collected from assets Cash collected from stock EISS6SS-* ment $80,630 219,280 35,274 547,977 153,317 79,131 17, 338 75,257 56,176 58,678 112,400 166,679 458,659 404,632 38,395 79,658 107,244 13,849 47,361 15,858 69,998 321,654 180,421 413,189 457, 554 123,511 89,131 22, 707 19, 745 95,358 80,056 57, 574 60,365 31,237 37,830 19,849 242,350 103,031 46,657 357,810 45,048 125,681 33,605 1.748,843 98, 731 297,840 86,439 731, 798 17,446 36, 597 100, 653 117, 758 337,212 30,884 205,675 98,887 58,572 69,633 806,234 288,368 168,897 27,339 470,454 252,126 85, 609 393, 700 *50, 628 196,375 463,871 $143,859 566,071 105,392 516,671 257,311 218, 301 48,353 150,855 31,316 48,843 113,607 652,820 846,395 171,990 50,025 149,623 103,050 57, 799 74,354 56,628 159,664 169,837 48,653 174,932 53,910 847, 636 156,379 103,412 119, 835 41, 582 95, 280 119, 943 29, 928 99,313 111, 276 94,211 299,147 103,632 138,147 190,573 175,697 113,962 63,939 746, 250 48,156 160,685 143, 983 220,201 153, 683 76, 268 67, 235 102, 560 428,037 155, 788 247, 817 170,037 165,098 79,432 946,948 240,028 53,246 28,000 52,561 32,690 798,011 61,865 901, 924 253,229 509,732 345,544 $42,626 235,987 115,343 201,869 194,165 57, 715 231,384 65, 710 318,478 15,588 79,202 297,201 57,902 54,696 33, 574 86,078 76,102 60,287 171,967 16, 553 48,563 233, 227 54,570 320,416 520,999 672,204 77,025 60,218 72, 757 84, 886 59, 725 86,292 35,676 27,321 74, 294 75, 580 1405196 75,577 53,270 111, 563 211,368 74,918 69,802 458,547 43, 647 96,317 41,049 215,322 91,909 46,111 47,400 30, 983 381, 524 34, 080 107,309 15, 439 129,011 54,917 677,140 115, 811 64,991 2, 521 290,148 453,156 20,170 15,871 113, 727 261,195 161, 521 $18,018 118,953 29,636 89, 205 20,571 23,266 4,991 14,254 7,493 22, 533 45, 568 101,898 61, 951 41,115 39,237 6,504 82, 665 4,395 16,853 11,210 51,186 194,195 47,432 39,083 130,210 48,192 42,091 40,178 45,992 31,313 8,279 7,274 8,216 5,181 16,076 17,780 38,642 27,886 33,170 88,031 49,204 24,183 8,839 171, 283 21,288 52, 261 37, 763 101,401 30,155 30,007 25,139 35,858 156,481 19, 251 28,921 28,009 18,197 20, 813 109,553 182,131 26,468 696 5,377 80,184 67,399 11,325 96,756 42,467 97,007 61,130 $25,000 100,000 25,000 50,000 50,000 25,000 60,000 25,000 25,000 25,000 30,000 100.000 lOO', 000 25,000 25,000 35,000 50,000 25,000 40,000 25,000 25,000 50,000 25,000 100,000 100,000 200,000 25,000 25,000 25,000 25,000 25,000 25.000 25,000 25,000 25.000 25,000 75,000 50,000 25,000 50.000 50,000 25,000 25,000 150,000 25,000 50,000 25,000 100,000 50,000 50,000 40,000 25, 000 100,000 25, 000 50,000 50,000 25, ()00 25,000 250,000 25,000 25, 000 25,000 50,000 200,000 25,000 75,000 25,000 100.000 100,000 $310,133 1,240, 291 310,645 1,405,722 675,364 403,413 358,066 331, 076 438,463 170,642 380, 777 1,318,598 1,524, 907 697,133 186, 231 356, 863 419, 061 161. 330 350, 535 125,249 354, 411 968,913 356,076 1,047,620 1,262, 673 1,891, 543 389, 026 251, 515 283, 329 278,139 268,340 296, 083 159,185 188,052 264,476 232,420 795,335 360,126 296,244 797, 977 531,317 363,744 201,185 3,274,923 236 822 657,103 334, 234 1,368, 722 343,193 238, 983 280, 427 312,159 1,403, 254 285, 003 639, 722 362, 372 395* 878 249, 795 2, 789, 875 851,338 338,602 28, 696 112,798 923,476 1,770, 692 203,969 1,483, 251 485, 051 1,164, 309 I 1,132,066 $121,076 335,081 87,267 584,660 216, 585 203,900 41, 721 128,459 122,280 86,557 129,163 491, 704 730, 564 250,209 53,611 96, 525 101, 610 42,187 94, 537 43,131 157, 787 352, 705 221, 069 674, 965 492,709 892,438 153, 987 79, 876 119,300 128,003 94, 870 79,827 49,663 73, 294 86, 721 121, 724 313,186 162, 795 137, 213 233,405 214,263 139, 933 62,509 1, 428,187 68, 728 237, 958 123, 626 565,189 111, 876 100,195 166, 685 123,175 418, 277 110, 862 223, 842 177, 205 137, 403 104,481 1,152, 034 355,466 145,420 21,131 46,131 435,378 669,361 98, 527 752, 663 135,202 618,178 360,427 $2,535 42,000 2,000 27,390 4,000 3,329 58,475 13,661 7,809 10,263 19,536 28, 786 36,750 5,508 7,800 3,800 2,860 7,800 23,900 13,044 11, 758 29, 379 23, 371 40,464 98,400 46,437 6,300 10,006 18,821 4,500 500 1,000 8,955 11,604 12,355 7,000 24,319 37,005 9,140 18,607 7,800 8,248 2,450 52,188 8,576 14,482 12,000 36,076 21,223 17, 207 18,000 16,096 85,864 1,341 26,100 32S 228 11,387 10,060 89.618 22; 630 10,305 8,338 22, 525 109,423 14,833 16,872 8,390 45,455 10,675 694 696 697 698 699 701 702 703 704 706 707 708 709 710 711 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 729 731 733 734 736 737 738 739 740 741 743 744 745 746 747 748 749 751 752 753 754 755 756 757 758 760 761 702 763 764 765 767 768 770 771 772 773 774 775 776 256 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Progress of liquidation to date of this report Offsets allowed and settled 701 702 703 704 706 707 708 709 710 711 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 729 731 733 734 736 737 738 739 740 741 743 744 745 746 747 748 749 7ul 752 753 754 755 756 757 758 760 761 762 763 764 765 767 768 770 771 772 773 774 775 776 $6,615 238,582 263 71,910 29,793 28,173 4,623 24, 737 8,848 43, 955 55, 804 52,493 4,829 9,588 1,818 14,348 1,778 10, 752 921 11, 053 45,018 45, 268 14, 683 119,398 62,105 20, 559 25, 346 48, 029 9,164 8,561 10,189 24,476 609 2,265 8,880 41, 047 10, 707 9,201 208, 316 15, 075 16, 587 2,377 371, 680 6,965 21, 247 14, 822 131,967 10, 519 6,882 10, 932 29,578 44,100 10, 062 50, 554 10, 839 13, 381 2,172 94, 808 62,978 4,011 5 5,185 22,421 24,884 10,315 85,789 53,345 37,085 31,991 Total collected from all sources, including offsets $130,226 615, 663 89,530 683, 960 250, 378 235,402 100,196 146, 743 154,826 105, 668 192, 654 576, 294 819, 807 260, 546 70, 999 102,143 118, 818 51, 765 129,189 57,096 180, 598 427,102 289, 708 730,112 710, 507 1,000, 980 180, 846 115, 228 186,150 141, 667 103, 931 91, 016 83,094 85, 507 101, 341 137, 604 378, 552 210, 507 155, 554 460, 328 237,138 164, 768 67, 336 1, 852, 055 84,269 273, 687 150,448 733, 232 143, 618 124, 284 195, 617 168, 849 548, 241 122, 265 300,496 220, 272 162,171 116, 713 1,336,460 441,074 159, 736 21,136 59, 654 480, 324 803, 668 123, 675 855, 324 196, 937 700, 718 403,093 Loss on assets com' Remaining pounded Remaining uncollect- returned or sold uncollected ed stock to shareunder holders' agents order of ment court $157,442 181, 826 183,305 699,152 195, 541 12, 580 34, 324 37, 573 213, 980 177, 659 49, 969 192,390 15, 571 38, 446 1,329 15, 237 92, 365 76, 082 56,197 160, 571 86, 053 9,438 257,972 13, 474 316, 359 12,757 121, 293 91, 000 21, 786 138, 964 15, 296 60, 046 69, 886 2,339 76, 816 72, 947 4,735 12,133 306, 256 22, 978 33,314 111,299 251, 251 30, 335 10, 770 6,312 385, 224 29,771 81,906 14,890 16, 673 115, 756 47,814 119,885 27,492 1,150 86, 777 130, 969 19,522 7,560 14, 843 25, 514 55, 611 6,843 121, 331 43,989 85, 272 6,108 47,920 117,733 725,121 71, 265 315,326 4,443 192, 602 116, 992 1, 206, 256 276, 925 144, 649 $22, 465 58,000 23,000 22,610 46,000 21, 671 1,525 11, 339 17,191 14,737 10,464 71,214 63, 250 19, 492 17,200 31,200 47,140 17, 200 16,100 11, 956 13,242 20, 621 1,629 59, 536 1,600 153, 563 18, 700 14, 994 6,179 20, 500 24, 500 24, 000 16,045 13,396 12, 645 18, 000 50, 681 12,995 15,860 31,393 42, 200 16, 752 22, 550 97,812 16,424 35, 518 13,000 63,924 28,777 32, 793 22,000 8,904 14,136 23, 659 23,900 17, 772 13,613 14, 940 160, 382 2,370 14, 695 21, 639 390,163 820,836 63,284 448,468 227, 515 323, 774 633,540 16, 662 27,475 90, 577 10,167 58,128 16,610 54,545 89, 325 $384,802 14, 810 183,445 133, 760 222, 021 135,421 52, 466 50, 237 621,121 449, 460 401, 824 59, 586 222,191 237, 866 129,164 435,137 55, 301 537,092 420, 641 177, 323 94,186 945 165,771 19, 263 148,151 293,155 131, 889 112, 697 ~229,~66r 148, 910 1,073,805 105, 794 337,128 164,474 186, 342 141, 027 Disposition of proceeds of liquidation Dividends paid $22,536 117,144 291,987 18,679 83,151 30, 282 44,110 167, 994 82,747 7,354 8,726 9,694 23, 521 19, 203 120,412 157, 850 96, 865 216, 002 409, 988 146, 687 26, 816 23,433 87, 841 30,424 14, 686 35, 651 73.106 109,253 47, 682 54, 853 103, 851 84, 380 59.107 4,200 607,101 14,458 77,282 20, 887 86,859 61,467 50,047 96.452 43, 630 98, 802 15,185 147, 994 108,280 20, 682 15, 092 606, 238 137, 056 24,795 19,490 29, 658 63.453 258,510 41, 036 339, 669 34,095 115,935 Secured and preferred liabilities, including offsets paid $88,510 408,383 78,126 343,521 181,237 86, 872 85, 564 106, 669 116, 596 56, 294 133, 552 318,056 518, 973 201, 550 52, 331 81, 858 93, 371 18, 726 90, 614 34,126 37,114 138, 977 152,071 394,271 198,412 777, 627 117,840 80,712 79, 588 69.781 66, 617 74,137 34,616 69,751 75,173 49, 501 232,206 122,729 80,386 329,499 68, 066 67,341 54, 755 928,314 54,565 144,515 85.782 553, 621 39,940 62,044 79,913 88,064 354,085 67,952 117,970 48,980 112,085 84,333 638.330 216,454 99,180 67 18,362 382, 766 476,346 68,320 363;550 131,312 507.331 334,832 KBPOKT OF THE COMPTROLLER OF THE CURRENCY 257 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash advanced in protection of assets Receiver's salary, legal, and other expenses $2,299 3,229 137 7,820 2,228 16,839 2,020 1,452 352 176 541 17,993 131, 049 7,752 $16,881 59,322 8,338 40,632 29,055 29,617 9,166 19,166 18, 975 10, 010 14, 451 39, 502 74,625 40, 370 10, 522 15, 055 13, 836 13, 796 14, 044 3,767 23,072 53, 328 23,147 50,114 20, 424 43, 561 15, 454 10, 568 17, 314 20, 455 21, 229 11, 222 12, 819 4,759 12, 620 13,884 22, 067 22,053 13, 741 24, 574 41, 427 20,591 8,381 144, 940 12, 351 27, 210 20,289 30, 814 23,456 12,160 13, 878 22,185 46, 828 16, 302 11,197 25, 279 19, 308 11,425 68,820 41, 743 23,008 1,579 9,868 25, 311 40,012 11, 066 53, 771 23, 830 44,135 33, 317 2,105 1,390 934 24 23,682 3,489 32, 774 554 1,085 515 1,407 8,662 293 101 8 1,731 226 1,113 1,831 2,035 1,700 2,404 20, 250 2,113 38, 242 324 7,498 179 1,446 33 53 7,904 17,018 3,590 100 194 3,736 3,943 3,118 7,787 2,129 1,540 756 3,080 1,370 10, 678 1,706 7,795 5,835 Cash in hands of comptroller and receiver $27,585 2,929 19,179 18,923 3,446 19, 456 18,903 8,906 32, 749 12,413 10, 874 792 3,125 1,495 8,345 986 53, 265 14,136 36,951 81,129 33,105 19, 651 12, 345 1,106 5,556 9,266 13, 322 13,195 16, 008 4,874 23,015 15, 616 133, 458 2,571 17,182 23,490 61, 759 17,309 5,321 7,066 31, 508 19, 236 23, 235 37, 539 6,360 1,920 19,954 38, 034 10, 624 226 8,038 25, 720 1,883 87,656 5,994 25,522 29,109 Amount returned to shareholders in cash Amount of claims proved $225,389 548,831 237,082 912,791 373,576 207, 878 104,938 244,424 295 465 46,328 229,167 729 728 724,908 438, 207 73, 662 250,452 174 557 99, 646 234,782 39, 675 201,186 596, 777 188, 555 424, 611 905,106 975,911 223,943 135,462 151, 005 131, 378 161, 758 202,834 58,876 112,419 175,914 117,542 398 848 121, 236 140,202 328, 589 328, 677 222,275 116,692 1,894, 211 134,180 454,104 210,406 868, 628 174, 790 58, 798 98, 774 144,132 959, 589 151, 501 365, 787 163, 618 258, 542 114,106 1, 534, 957 400, 266 164, 996 67, 215 41,676 397, 007 430,872 74,297 889,124 284,868 366, 770 682, 969 Dividends (per cent) Interest dividends (per cent) Finally closed 10 20 Sept. 21,1927 30.94 5 40 Mar. 31,1927 55 . 19. 25 20 10 Aug. 25, 1927 10 5 10 10 36.5 59.85 25 52.5 50 45 15 10 17.3 57 10 20 9 08 Sept. 12,1927 Feb. 17,1927 Apr. 30,1927 do 59 M a r . 21,1927 62.2 25 30 35 31.1 25 25 3.6 32 10 17 10 10 35 66 85 27 10 10 40 60 8 10 40 35 15 29 71 16 60 55 35 10 25 July 21,1927 July 15,1927 June 30,1927 Mar. 21,1927 Sept. 30,1927 694 696 697 698 699 701 702 703 704 706 707 708 709 710 711 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 729 731 733 734 736 737 738 739 740 741 743 744 745 746 747 748 749 751 752 753 754 755 756 757 758 760 761 762 763 764 765 767 768 770 771 772 773 774 775 776 258 REPORT OF THE COMPRTOLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 81, 1927—Con. Title and location of banks First National Bank, Mclntosh, S. Dak First National Bank, Clayton, N. Mex__ First National Bank in Deming, Deming, N. Mex First National Bank, St. Anthony, Idaho First National Bank, Huron, S. Dak _. Farmers & Merchants National Bank, Fairbury, Nebr_ First National Bank, Golva, N. Dak-_ First National Bank, Lingle, Wyo Torrington National Bank, Torrington, Wyo First National Bank, Poison, Mont ._. Merchants National Bank, Crookston, Minn -_ First National Bank, Bristow, Nebr _First National Bank, Lake Preston, S. Dak First National Bank, Plentywood, Mont__ First National Bank, Sterling, Colo First National Bank, Rocky Ford, Colo First Natl. Bank of Fergus Co., Lewistown, Mont First National Bank, Marysville, Kans First National Bank, Alexander, N. Dak First National Bank, Pilger, Nebr_ First National Bank, Wilsall, Mont National Bank of Commerce, Shawnee, Okla__. Citizens National Bank, Hankinson, N. Dak__. City National Bank, El Paso*, Tex _. First National Bank, Carlsbad, N. Mex First National Bank, Baker, Mont Farmers National Bank, Burlington, Kans Drovers National Bank, East St. Louis, 111 First National Bank, Schuyler, Nebr First National Bank, Morristown, S. Dak City National Bank, Huron, S. DakL First National Bank, Newcastle, Wyo_. ._. Citizens National Bank, Julesburg, Colo First National Bank, Basin, Wyo First National Bank, Lidgerwood, N. Dak Citizens National Bank, Worthington, Minn... First National Bank, Poteau, Okla National Bank of Commerce, Rochester, N. Y. Weiser National Bank, Weiser, Idaho. __ _. Citizens National Bank, Ness City, Kansi First National Bank, Cheyenne, Wyo _. First National Bank, Lambert, Mont First National Bank, Bridgewater, S. Dak Citizens National Bank, Cheyenne, Wyo First National Bank, Harrington, Wash... First National Bank, Minnesota Lake, M i n n First National Bank, Rexburg, Idaho First National Bank, Ririe, Idaho First Conn. j c i i s o National INctuiui-iai Bank, jjiau-ii., Putnam, x uxj-iajm., \_.«ji-ij_i State National Bank, Carlsbad, N. Mex.i Northwestern National Bank, Livingston, Mont First National Bank in Clovis, N. Mex First National Bank, Beaver Creek, Minn First National Bank, Groom, Tex First National Bank, Ozark, Ala First National Bank, Ulen, Minn First National Bank, Alma, Wis Merchants National Bank, Grinnell, Iowa First National Bank, Morgan, Tex First National Bank, Abbeville, Ala First National Bank, Algona, Iowa First National Bank, Boise City, Okla First National Bank, Allendale, S. C__ First National Bank, Barn well, S. C First National Bank, Center, Tex Farmers National Bank, Dodge Center, Minn First National Bank, Torrington, Wyo Parkesburg National Bank, Parkesburg, Pa First National Bank, Buffalo, Okla First National Bank, Oldham, S. Dak 777 778 779 780 781 782 783 784 785 787 789 791 794 796 797 798 799 802 803 804 805 806 807 808 810 811 812 813 814 815 816 817 818 819 820 822 823 824 827 829 830 831 832 833 835* 836 837 838 839 840 841 842 843 845 846 847 850 851 852 853 855 856 857 858 859 860 861 862 863 864 Capital Date of stock at organization suspension Oct. 16,1908 Dec. 29,1900 Aug. 5,1903 Dec. 31,1900 M a y 19,1882 F e b . 8,1913 Apr. 14,1919 Aug. 19,1918 F e b . 3,1919 M a r . 26,1909 Oct. 25,1884 J u n e 5,1909 J u l y 24,1915 M a y 12,1913 Oct. 29,1900 Oct. 23,1903 M a y 9,1904 Aug. 25,1882 J a n . 22,1919 Aug. 2,1901 Apr. 11, 1919 Aug. 18,1923 J a n . 18,1906 Oct. 14,1904 M a y 19,1900 Aug. 19,1913 Sept. 10,1903 Apr. 30,1913 Sept. 4,1882 M a y 11,1910 J u n e 3,1907 M a r . 23,1904 Sept. 29,1909 M a y 15,1916 M a y 29,1901 J u n e 7,1901 J a n . 14,1904 F e b . 1,1906 F e b . 19,1906 F e b . 3,1906 Dec. 29,1870 Apr. 20,1918 Aug. 3,1903 J a n . 15,1906 J u l y 10,1908 Apr. 5,1902 J a n . 19,1904 Oct. 9,1916 M a r . 23,1864 F e b . 8,1917 M a r . 27,1917 F e b . 28,1924 Jan. 4,1909 Aug. 16,1919 F e b . 13,1905 Dec. 12,1903 M a y 16,1906 Apr. 28,1883 M a y 3,1902 Aug. 17,1901 M a y 22,1884 Aug. 30,1917 N o v . 30,1917 Jan. 9,1919 Sept. 10,1901 F e b . 4,1903 Oct. 6,1908 F e b . 27,1880 Sept. 2,1907 Aug. 30,1912 $25,000 75,000 40,000 50,000 65,000 60,000 25,000 25,000 35,000 25,000 7o, 000 40,000 25, 000 50,000 100, 000 60,000 300,000 75,000 25,000 50,000 25,000 100,000 30,000 500,000 100,000 25,000 55,000 200, 000 50,000 25,000 25,000 25,000 35, 000 50, 000 25,000 25,000 1, 500, 000 75,000 45,000 200, 000 25,000 25,000 100, 000 50,000 25,000 50, 000 25, 000 150, 000 75, 000 100,000 50,000 30,000 25,000 35, 000 25,000 25,000 100, 000 25, 000 100,000 50,000 25,000 50,000 50,000 50,000 30,000 50, 000 50,000 25,000 25,000 Receiver appointed Mar. 1,1924 —_do Mar. 4,1924 -—doMar. Mar. Mar. Mar. 14,1924 15,1924 18,1924 19,1924 Mar. 22," 1924 Mar. 24,1924 do Mar. 28,1924 Mar. 31,1924 Apr. 5,1924 do Apr. 12,1924 Apr. 15,1924 do Apr. 22,1924 do Apr. 28,1924 Apr. 30,1924 May 8,1924 May 14,1924 May 20,1924 May 21,1924 May 22,1924 May 24,1924 do._ do June 12,1924 do June 14,1924 June 17,1924 June 19,1924 do. June 21,1924 June 23,1924 July 3,1924 July 9,1924 July 16,1924 July 18,1924 July 21,1924 Aug. 6,1924 do Aug. 11,1924 do Aug. 13,1924 Aug. 25,1924 Aug. 30,1924 Sept. 4,1924 Sept. 20,1924 Oct. 6,1924 Oct. 23,1924 Oct. 28,1924 Nov. 7,1924 Nov. 12,1924 Nov. 13,1924 Nov. 14,1924 Nov. 24,1924 Nov 25,1924 Dec. 3,1924 do do Dec. 9,1924 Dec. 16,1924 Dec. 26,1924 Dec. 27,1924 Jan. 3,1925 259 REPORT OF THE COMPTROLLER OF THE CURRENCY appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and N o m i n a l assets at d a t e of suspension Estimated good Estimated Estimated doubtful worthless Progress of liquidation to date of this report Additional assets received since date of suspen- Total assessm e n t of shareholders $59,230 75,621 106,843 193,783 938,783 162,379 22,914 47, 111 48, 570 56, 400 752, 444 97, 071 79, 237 133, 898 269, 033 162, 213 1,473, 857 128, 028 98, 263 116,055 4,544 498, 560 61, 532 1, 595. 305 22% 143 89, 083 187,375 365, 514 183, 098 10, 602 $103, 589 217,934 252, 457 206,458 851,487 91, 506 76,454 52, 914 46, 686 109, 949 557, 258 85, 731 109, 207 191, 366 566, 659 152, 393 2, 307, 203 414, 224 112, 856 138, 972 33,162 449, 972 107, 787 3,381,887 691, 804 110, 292 218, 309 351, 033 331, 264 100,832 $48, 945 93,915 156,092 218,988 265, 511 148,925 35,842 67, 224 50,498 51, 548 344, 707 50, 038 201,387 58, 241 282, 733 76, 017 833, 221 297,133 87, 299 74, 016 47,363 264, 224 97,130 357,977 71,372 58, 529 77, 534 164,452 164, 900 109,728 $29,390 36,698 37,211 131,675 108, 091 36,803 3,522 7,077 18, 565 50, 992 99, 454 112, 364 17,889 16, 863 50,848 108,109 312, 310 152, 492 20, 863 45. 328 3,109 125, 702 17, 444 1,284, 087 278, 225 27,130 57,344 18,856 21,140 14,157 $25,000 75,000 40,000 50,000 65,000 60, 000 25,000 25, 000 35, 000 25, 000 75, 000 40, 000 25,000 50, 000 100, 000 60, 000 300, 000 75, 000 25, 000 231, 640 90, 751 181, 300 152,343 225, 236 105, 664 67, 500 131,765 320,876 97, 738 116, 219 504, 763 214, 643 99,147 1, 337, 085 433,357 143,383 86, 930 44,739 200 W7 102, 413 166, 441 2, 271, 292 551, 491 2,797,972 34S 053 153, 794 1,020,533 242, 774 93, 395 132, 278 23,120 1,883, 750 2, 820, 497 27, 599 133, 845 843,931 120, 621 181, 730 184, 316 34, 286 186, 081 122, 629 78,105 66, 588 33, 340 209, 287 76, 607 100, 759 728, 525 62, 562 81,215 510, 551 89, 453 85, 653 95, 679 157,173 69, 229 258,131 234, 591 785 464 86, 664 145, 815 240, 590 89, 377 9,824 93, 641 146, 581 75, 474 286, 488 13, 671 114,117 212, 738 120, 273 200, 411 97,131 66, 323 417, 626 25, 546 66, 923 146. 527 114,512 Total assets and stock assessment Cash collected from assets Cash collected from stock assessment 25,000 100, 000 30,000 500, 000 100, 000 25, 000 55, 000 200, 000 50, 000 25,000 $266,154 499,168 592, 603 800, 904 2,228, 872 499, 613 163, 732 199,326 199,319 293, 889 1, 828, 863 385, 204 432, 720 450, 368 1, 269, 273 558,732 5,226, 591 1, 066, 877 344, 281 424, 371 113,178 1,438, 458 313, 893 7,119, 256 1,370, 544 310, 034 595, 562 1,099, 855 750,402 260, 319 $92, 710 151,936 213,461 349,697 784, 753 256, 746 43, 521 69,372 61,211 104, 246 1,070, 830 103, 485 153, 707 80,067 528, 026 241,752 2, 267,177 510, 591 104, 507 125, 510 41, 054 662, 394 141,380 3,467, 615 517, 238 166, 991 269, 681 514,515 314, 022 100, 629 $5,000 28,924 5,940 24,049 16,850 32,209 1,950 3,612 16, 545 9,808 16, 981 35, 672 2,548 15, 686 29,192 16,920 163, 991 19,882 7,660 7,150 2,048 300 6,537 346, 314 78,359 14,970 30, 806 96,720 18, 900 14,150 129, 603 28, 976 21,205 25, 000 25, 000 35, 000 850,502 329, 395 398,463 389,446 148, 879 200,522 5,961 10, 830 14, 200 58, 722 26,181 314 *>*> 103? 484 25, 000 25, 000 259, 018 179, 549 1,131, 523 582,904 8,750 9,436 75, 000 620, 014 422, 433 3,990,176 1, 295, 097 17,865 535,842 76,034 35,202 75,833 29, 402 45, 246 503, t66 188, 481 182, 201 680, 470 4,422 17, 210 78,017 20, 578 60,111 54, 474 4, 136 323, 770 200, 000 25, 000 25, 000 100,000 50, 000 25, 000 50, 000 25, 000 150, 000 7, 084, 781 167,108 365, 051 2,118, 314 463, 375 405, 482 924, 734 275, 023 2, 725, 802 3, 294,875 71, 733 185, 225 1,078,194 206, 094 285,878 299, 231 93, 253 1, 765, 388 70, 341 3,168 18, 428 57, 500 34, 661 25,000 14, 443 9,797 147, 284 72, 866 85, 639 35,107 13, 401 69, 001 99, 673 113,448 450, 521 20,157 86, 533 80, 493 23, 857 129,161 68, 283 46,307 370, 429 99, 817 75,618 86, 087 105, 880 12, 444 33, 373 7,067 2,909 44, 755 21, 048 27, 547 114,332 4,403 4,935 57,119 20, 633 29,053 30, 425 24S 889 30,528 25,193 86,526 84, 972 10, 827 100, 000 50, 000 30,000 25, 000 35,000 25, 000 25, 000 100,000 25, 000 100,000 50, 000 25, 000 50, 000 50, 000 50, 000 30, 000 50, 000 50, 000 25, 000 25, 000 453, 754 487, 707 228,199 84, 474 451, 684 368, 909 342, 228 1, 679, 866 125, 793 386, 800 910. 901 279, 216 494, 278 341, 518 344, 692 917, 812 458, 687 513, 658 421, 050 342, 883 164, 543 253, 436 85, 710 31, 039 148,358 118, 787 130, 657 528, 751 42, 298 110, 261 362, 784 132,823 150, 080 127, 313 183, 339 253, 845 210,041 334, 436 196, 730 152, 265 48, 621 47, 236 8, 575 17, 923 327 6,455 18, 042 77, 519 2,363 47,900 30, 500 7,831 21,026 21, 626 18, 664 12,541 5,550 37, 545 3,969 j ! i 1 50; ooo 17,000 777 778 779 780 781 782 783 784 785 787 789 791 794 796 797 798 799 802 803 804 805 806 807 808 810 811 812 813 814 815 816 817 818 819 820 822 823 824 827 829 830 831 832 833 835 836 837 838 839 840 841 842 843 845 846 847 850 851 852 853 855 856 857 858 859 860 861 862 868 864 260 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Disposition of proceeds of liquidation Progress of liquidation to date of this report Offsets allowed and settled 777 778 779 780 781 782 783 784 785 787 789 791 794 796 797 798 799 802 803 804 805 806 807 808 810 811 812 813 814 815 816 817 818 819 820 822 823 824 827 829 830 831 832 833 835 836 837 838 839 840 841 842 843 845 846 847 850 851 852 853 855 856 857 858 859 860 861 862 8G3 864 Total collected from all sources, including offsets Loss on Remaining Assets assets compounded Remaining uncollect- returned uncollected ed stock to shareor sold assessholders' under assets ment agents order of court $12,649 10,191 14,038 5,321 83,887 39,077 4,586 4,964 8,672 22, 032 154,185 38,023 5,703 1,008 89, 492 48, 520 507, 764 62,804 12, 838 5,418 525 97, 573 2,783 536, 259 31, 312 15,424 24,777 27,102 43, 315 5,800 $110,359 191,051 233,439 379,067 885,490 328, 032 50, 057 77,948 86,338 136, 086 1, 241,996 177,180 161, 958 96, 761 646, 710 • 307,192 2,938, 932 593, 277 125, 005 138, 078 43,627 760, 267 150, 700 4,350,188 626909 ,0 197, 385 325, 264 638, 337 376, 237 120, 579 34,321 18, 357 53, 849 429, 728 178, 066 268, 571 $18,786 97,311 325,104 38,903 78, 213 62,467 1,460 20,103 410 41, 619 128,100 203,696 47, 248 18, 086 153, 384 69,866 387, 568 270, 514 22, 403 102, 353 30,966 220, 279 43,195 2, 615, 382 119,688 5,583 52,998 46, 836 89,962 7,416 129, 359 34, 267 109, 092 57, 723 24, 448 17, 821 325, 491 213, 433 1,131, 523 618, 590 225,165 193, 436 1, 078, 085 234, 399 586, 771 3,630 22, 266 177, 516 12, 701 27,260 36, 890 1,106 182,235 3,951, 987 78, 531 225, 919 1, 313, 210 253, 456 338,138 350, 564 104,156 2,094, 907 30,117 15,477 5,140 1,053 15,648 23, 595 20, 769 26, 582 16, 957 5,853 29,007 18,800 10, 370 7,084 31,068 27, 674 51, 630 50, 351 24, 538 17,379 243,281 316,149 99, 425 50, 015 164, 333 148,837 169,468 632, 852 61, 618 164, 014 422, 291 159, 454 181, 476 156,023 233, 071 294, 060 267, 221 422, 332 225, 237 186, 634 $117,009 164,730 356~983 1,217,019 81,323 89,165 79,887 94,026 100,992 400, 748 201, 062 301, 207 398, 371 138, 594 1,764, 082 147, 968 179, 533 141, 090 15, 633 358, 212 96, 535 602, 306 97, 036 193,106 311, 402 253,103 121, 474 Dividends paid Secured and preferred liabilities, including offsets paid $13,303 29,358 61, 253 81,496 124,823 106,354 $73,607 114, 263 143,560 254,873 630,075 134,345 39,425 8,482 48,199 17, 686 40,397 11,401 102,819 987,109 166,877 74,115 86, 593 55, 079 74, 466 63,944 219, 676 307, 464 136, 252 119, 814 1,163, 441 1,482,287 321, 722 226,190 20,343 72, 897 33,924 73,159 36,148 287, 003 390, 576 82, 315 33,929 1, 668, 360 2,491, 015 185, 627 322, 642 97, 454 82, 431 110, 695 155, 099 327, 812 225, 369 174, 084 111, 756 7,529 92, 626 $20,000 46,076 34,060 25.951 48,150 27, 791 23,050 21,388 18, 545 15,192 58,019 4,328 22,452 34, 314 70, 808 43, 080 136, 009 55,118 17, 340 42, 850 22.952 99,700 23, 463 153,686 21, 641 10, 030 24,194 103, 280 31,100 10, 850 272, 376 102, 892 19, 039 14,170 20, 800 176, 095 57, 422 140,290 176, 333 89, 755 87,701 59, 108 16, 250 15,564 110,958 45, 867 156, 574 145, 781 1, 067,946 371, 656 1, 780, 568 384,973 57,135 766, 452 8,783 21,095 88,807 34,951 67, 344 402,289 103, 339 5,017 2, 236, 683 57,962 111, 465 673, 797 159, 629 129, 659 21,832 6,572 42,500 15, 339 136, 324 52, 325 623,162 35, 557 15,203 2,716 14, 665 168, 794 33, 758 8,896 121, 693 8,497 21, 472 196,403 3,501 126, 795 89, 621 5,126 27, 379 25,254 80,159 62,468 10, 093 27,113 174, 782 36, 495 144, 429 51, 379 2,764 21,425 7,077 34,673 18, 545 6,958 22,481 22, 637 52,100 19, 500 17,169 28, 974 28, 374 31, 336 17,459 44, 450 12,455 21,031 8,000 73, 591 130, 985 193,030 144, 330 828,130 38, 037 43, 891 379, 489 97,467 256, 449 131, 867 126 543, 825 136, 923 51,758 98,166 1, 871,407 11, 791 126, 641 810,495 35,909 279,283 47,400 1,306,066 $18,486 115,771 74,770 11,460 22,186 47, 552 125, 798 25, 479 109, 246 162, 670 45,184 51, 346 118, 913 38, 617 137, 579 240, 563 23, 295 119,794 1,844,999 47, 403 66,535 322, 835 166, 670 39, 537 276, 312 85,063 535,806 104, 465 219,663 60,181 14,494 134,204 118, 710 79, 761 370, 381 25, 607 11,416 164, 915 124, 270 110, 726 87, 945 57,053 193, 507 87,400 117,246 170, 381 47,999 REPORT OP THE COMPTROLLER OP THE CURRENCY 261 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash advanced in protection of assets $145 8,418 2,602 4,389 24,985 4,865 600 1,563 1,753 1,446 15,201 Receiver's salary, legal, and other expenses Cash in hands of comptroller and receiver Amount returned to shareholders in cash Dividends (per cent) 3,149 4,482 17,961 468 3,786 2,765 135 7,426 11 800 6,092 22,176 1,910 1,367 2,731 15,124 10, 822 1,240 $13,660 26,996 26,024 25, 277 57, 561 36, 858 7,577 14,870 15, 553 14,496 62,429 16,472 22, 370 14, 219 40,835 28,136 103, 272 30. 822 15, 051 17,154 7,140 43, 269 22, 389 168, 637 28,554 14, 313 27, 309 38, 654 22,043 14, 783 2,616 1,649 728 33, 941 20, 811 22,407 40, 743 8,429 17,445 466, 664 164,060 216,635 35 35 65 2,997 176 48 29, 739 20,186 21, 609 54,978 60,112 34, 776 394,896 224, 314 27 18.6 8,551 58,917 981,665 10 6,605 664 3,687 7,915 1,389 55 587 91 58 106, 233 12,916 22,409 62, 543 17, 358 19, 263 21, 574 8,720 61,988 122, 743 5,757 6,647 109,422 32,130 22,204 21, 652 15, 763 8,767 11, 270 16, 792 26, 025 39, 511 9,542 10, 302 32, 516 12, 411 12, 666 9,369 22, 277 27,995 21,953 18,327 18, 028 13, 050 841 64 723 " 357 585 2,143 9,786 1,071 6,943 3,251 296 797 1,899 420 1,646 98 48 $9,644 12,016 Amount of claims proved $166,419 8 293, 582 10 17.2 353,458 15 542, 201 1,569, 725 8 212, 549 50 92, 053 84,818 10 50, 616 35 114, 905 10 73 1,352,197 145,004 45.75 20 275, 397 319, 247 676, 202 30 227, 086 60 2,819; 194 40 712, 017 60 10 195, 595 16.67 204, 082 41, 377 712,819 40 205, 781 40 3, 090, 740 48 465, 258 40 139, 274 70 368, 593 30 468, 321 70 496, 744 35 150, 597 5 13, 032 48,046 45, 610 2,455 4,834 10, 949 5,924 10,380 6,894 14,116 60, 774 22, 522 186,146 11, 778 16, 579 6,415 328 38, 619 5,975 88,176 1,820 29, 430 31, 378 57, 532 4,401 4,349,813 62,033 210,983 1,350,833 163, 702 324, 753 630, 860 210,430 1, 835, 373 4,691 10, 282 190,989 12,021 18, 502 12, 750 13,987 87, 376 990 31, 979 55,247 19,522 12, 604 6,566 32,929 33, 521 18,643 46 098 13, 533 5,743 Interest dividends (per cent) $3, 845 144, 781 135,954 114, 764 19, 790 270, 847 234, 220 217,800 1,249,989 46, 446 145, 661 650,771 181,951 288, 024 165, 556 237, 573 725, 257 229, 347 343, 640 233, 568 239, 592 Finally closed July 31,1927 May 2,1927 Feb. 28,1927 M a r . 31,1927 45 20 60 60 25 86 7.5 Sept. 30,1927 70 80 55 10 100 20 10 55 75 25 15 30 50 5 60 70 10 50 Sept. 30,1927 12.1 Feb. 1,1927 777 778 779 780 781 782 783 784 785 787 789 791 794 796 797 798 799 802 803 804 805 806 807 808 810 811 812 813 814 815 816 817 818 819 820 822 823 824 827 829 830 831 832 833 835 836 837 838 839 840 841 842 843 845 846 847 850 851 852 853 855 856 857 858 859 860 861 862 863 864 262 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 81, 1927—Con. 866 867 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 890 891 892 893 894 895 896 897 898 899 901 902 903 904 905 906 907 908 909 910 911 912 913 914 915 916 917. 918 919 920 921 922 923 924 925 926 927 928 929 930 931 932 933 Title and location of banks Date of organization Capital stock at suspension First National Bank, Spring Hope, N. C Stockmans National Bank, Columbus, Mont First National Bank, Alexandria, Minn_ __. First National Bank, Townsend, Mont First National Bank, Rigby, Idaho _ Peoples National Bank, Hot Springs, S. Dak First National Bank, Sylvester, Ga First National Bank, Salem, S. Dak_ _ Jefferson County National Bank, Rigby, Idaho i Neoga National Bank, Neoga, 111First National Bank, Mohall, N. Dak._ First National Bank, Excelsior Springs, Mo. Logan County National Bank, Sterling, Colo First National Bank, Buena Vista, Ga First National Bank, Hampton, Ga Perry National Bank, Perry, Iowa Farmers National Bank, Hempstead, Tex ... First National Bank, Crystal, N. Dak The National Bank of Abbeville, Abbeville, S. C Commercial National Bank, Charleston, S. C First National Bank, Quincy, Fla National Bank of Commerce, Pierre, S. Dak Black Hawk National Bank, Waterloo, Iowa* Lebanon National Bank, Lebanon, Tenn First National Bank, Shelley, Idaho First National Bank, Brinsmade, N. Dak First National Bank, Atwater, Minn First National Bank, Renville, Minn.. First National Bank, Idabel, Okla First National Bank, Pleasantville, Iowa First National Bank, Cavalier, N. Dak First National Bank, Stevensville, Mont First National Bank, Wapanucka, Okla First National Bank, Matoaka, W. Va City National Bank, Clarksville, Tex First National Bank, Montpelier, Idaho First National Bank, Buhl, Idaho First National Bank, Lemmon, S. Dak Commercial National Bank, Greenville, Tex Farmers National Bank, Chandler, Okla First National Bank, Bamberg, S. C First National Bank, Bandon, Oreg Georgia National Bank, Athens, Ga__ Osceola National Bank, Osceola, Iowa First National Bank, Wimbledon, N. Dak___ First National Bank, Hedrick, Iowa* First National Bank, Jasper, Minn _ First National Bank of Las Vegas, East Las Vegas, N. Mex. First National Bank, Conyers, Ga Hugo National Bank, Hugo, Okla First National Bank, Carnegie, Pa Burgettstown National Bank, Burgettstown, Pa First National Bank, Selma, N. C First National Bank, Madison, S. Dak Farmers National Bank, Louis burg, N. C First Natiinal Bank, Florence, S. C.._ First National Bank, Clear Lake, S. Dak First National Bank, Crandon, Wis. City National Bank, Hugo, Okla—_ .-First National Bank, Springer, N. Mex Merchants National Bank, Detroit Lakes, Minn First National Bank, St. Cloud, Minn First National Bank, Simla, Colo— First National Bank, Abercrombie, N. Dak First National Bank, Wausa, Nebr First National Bank, Redwood Falls, Minn First National Bank, Lumberton, N. C First National Bank, Walters, Okla May 6,1919 July 12,1918 June 9,1883 Jan. 31,1911 June 13,1919 May 23,1908 Mar. 11,1902 July 5,1901 June 9,1919 July 11,1905 Sept. 17,1903 May 5,1905 Oct. 11,1905 Oct. 12,1905 July 13,1911 Jan. 2,1912 Apr. 5,1893 Sept. 12,1905 Oct. 16,1885 May 5,1914 May 4,1904 Feb. 13,1890 Apr. 17,1903 Apr. 13,1907 July 15,1919 Dec. 11,1906 June 15,1914 Dec. 19,1902 Dec. 10,1906 Aug. 2,1900 Nov. 24,1911 Feb. 4,1915 Aug. 8,1901 Nov. 7,1918 Oct. 8,1914 Aug. 9,1904 Aug. 10,1917 Oct. 16,1908 Nov. 24,1904 Nov. 25,1921 Apr. 19,1920 Feb. 25,1910 Oct. 14,1902 Oct. 8,1901 Feb. 7,1903 Aug. 11,1900 Oct. 7,1902 Aug. 25,1879 $50,000 50,000 60,000 50,000 80,000 25,000 50,000 25,000 50,000 25,000 25,000 25,000 150,000 50,000 50,000 75,000 50,000 25,000 75,000 200,000 100,000 100,000 200,000 80,000 25,000 25,000 25, 000 25,000 80,000 25,000 25,000 25,000 25,000 50,000 200,000 50,000 100,000 50,000 150,000 25, 000 45,000 25,000 400, 000 25,000 25,000 25,000 30, 000 200,000 Jan. 7,1925 do Jan. 8,1925 do Jan. 12,1925 Jan. 15,1925 do-_-__-. Jan. 16,1925 Jan. 17,1925 Jan. 21,1925 Jan. 22,1925 Jan. 24,1925 Jan. 26,1925 do Jan. 27,1925 Feb. 5,1925 Feb. 7,1925 do do do Feb. 11,1925 do Feb. 13,1925 do ____do do Feb. 14,1925 do Feb. 18,1925 Feb. 21,1925 do Mar. 2,1925 ___do Sept. 3,1918 Apr. 11.1905 May 16,1892 Jan. 25,1879 May 7,1915 Mar. 29,1884 Aug. 1,1912 Mar. 23.1910 June 28.1902 Mar. 16,1909 Feb. 10,1922 Oct. 18,1919 Feb. 9,1906 Sept. 25,1882 May 10,1919 Aug. 25.1906 Mar. 27.1911 Mar. 11,1901 July 21,1904 Jan. 10.1903 75, 000 200,000 100,000 100, 000 30,000 50,000 25,000 150,000 25,000 50,000 100,000 50,000 60,000 250,000 25,000 25,000 75,000 70,000 50,000 50,000 May 12,1925 do do May 14,1925 May 16,1925 May 21,1925 May 22,1925 doMay 25,1925 May 29,1925 June 5,1925 June 15,1925 June 22,1925 June 24,1925 June 25,1925 June 30,1925 July 9,1925 July 29,1925 Aug. 4,1925 Aug. 6,1925 Receiver appointed Mar. 3,1925 Mar. 9,1925 Mar. 13,1925 Mar. 26,1925 Apr. 2,1925 Apr. 6,1925 Apr. 10,1925 ___do -. Apr. 13,1925 Apr. 17,1925 Apr. 22,1925 Apr. 23,1925 Apr. 24,1925 May 1,1925 May 4,1925 REPORT OF THE COMPTROLLER OF THE CURRENCY 263 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of suspension Progress of liquidation to date of this report Additional assets received since date of suspension Total assessment of share- Total assets and stock assessment Cash collected from assets Cash collected from stock assessment Estimated good Estimated doubtful Estimated worthless $171, 583 39, 730 226,188 26, 919 340,171 73, 979 117, 882 73, 357 $102, 568 75, 311 330, 013 52, 930 342, 625 101,441 105, 566 106, 969 $82, 604 81,382 493,467 105, 961 275,193 96,811 65,803 67, 459 $33,217 26, 535 50, 648 23, 715 110,891 31, 627 29,820 10, 697 $50,000 50,000 60,000 50,000 80, 000 25,000 50,000 25,000 $439,972 272, 958 1,160, 316 259, 525 1,148,880 328,858 369,071 283,482 $206, 032 72,891 533, 477 62, 932 494, 053 116, 712 142, 879 118,442 $42,596 23,153 45, 725 15, 091 46, 577 19,100 20,412 2,858 98, 536 11, 592 132,279 282, 949 108, 643 46, 072 462, 489 121, 388 158, 311 276, 265 231, 376 187, 303 597,405 66,307 60, 558 99, 534 351, 688 44, 232 61, 249 214, 831 126,969 105, 849 153, 733 643, 034 259, 814 223,923 49,126 85,300 19,411 284,520 55, 780 44, 929 172, 325 21,142 76, 571 113,575 486,938 134, 405 351, 952 7,693 6,682 39, 276 55,878 16, 387 21, 795 50, 775 20, 772 20, 599 13, 803 32, 376 40,325 61, 590 25,000 25, 000 25, 000 150, 000 50, 000 50, 000 75, 000 50, 000 25, 000 75, 000 200, 000 100, 000 100, 000 246, 662 189,132 315, 500 1,125,035 275, 042 224, 045 975, 420 340,271 386, 330 632, 376 1, 593, 724 721, 847 1, 334, 870 111,358 45, 741 189, 719 377,083 99,164 47, 862 350, 059 154, 691 119, 564 329,927 334, 643 292,956 678,154 22, 660 2,000 4,903 100, 507 22, 750 30, 816 28, 486 35,496 10,949 49, 520 124,953 64,592 40, 550 19, 861 58, 555 27, 301 105, 342 202, 858 109, 006 98,188 183, 494 34,155 59, 946 566, 624 114,952 77,160 121, 723 308, 378 438,483 113, 950 45, 073 108, 324 1,916, 328 85, 818 39, 580 131, 385 50, 830 128, 634 173, 594 118, 611 156, 439 114, 209 147, 202 102, 570 147, 713 5,820 210, 730 117. 326 92', 454 154, 731 263, 743 153, 301 117, 240 106, 699 743, 757 56, 263 104,974 90, 342 49, 602 12,127 255, 420 148, 063 125, 051 130, 451 72, 374 4,616 130, 586 27 118, 252 382, 089 441,139 147, 372 227,107 101, 382 25,056 53, 555 585, 896 70,156 44, 317 3,359 27,988 24, 517 20, 581 24, 839 8,561 66,942 19, 788 16, 532 19,995 323,992 8,978 60, 553 66, 058 60, 871 127, 650 22, 305 7,095 37,128 282, 573 23, 364 13,176 80, 000 25, 000 25, 000 25, 000 25, 000 80, 000 25, 000 25, 000 25, 000 25, 000 50, 000 200, 000 50, 000 100, 000 50, 000 150, 000 25, 000 45, 000 25, 000 400, 000 25, 000 25, 000 324, 947 211,975 217, 579 579, 937 519, 371 479, 057 434, 790 447, 858 182, 873 383, 240 946, 463 652, 912 687,128 821, 374 721, 352 1, 206,983 415, 938 239, 464 330, 706 3, 928, 554 260, 601 227, 047 47, 344 104, 454 76, 449 166. 605 268; 516 115, 516 162, 880 183, 061 91, 369 83, 235 488, 062 213, 227 333, 638 304, 642 340, 876 526, 837 230,989 61, 096 191, 298 2, 024,427 114, 836 67, 645 66,875 20, 656 1,400 7,700 1,000 27, 438 24,150 19, 600 11, 398 43,465 56,993 42, 318 36, 515 2,925 82,924 7,000 18,135 23,700 292, 865 8,425 17, 962 84, 230 432,119 225, 016 321S 751 206,922 353,190 73,187 65, 798 30, 000 200, 000 619, 355 1, 372, 858 229, 985 467,928 10, 258 93, 318 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887 888 889 890 891 892 893 894 895 896 897 898 899 901 902 903 904 905 906 907 908 909 910 911 912 913 914 69, 206 462, 972 1,138, 223 975, 738 165, 454 237, 384 79, 087 1,360, 861 146,042 242, 760 105, 551 183, 276 151, 253 686, 888 44, 506 106, 552 221, 012 88,616 398, 701 94, 835 155, 373 397.029 511, 485 497, 425 104, 954 207, 006 50, 269 87, 000 165, 713 232,165 107, 021 30, 540 273, 838 1,451,826 35, 681 89, 517 253, 375 303, 046 105, 297 138, 374 56, 230 494, 309 317, 405 524,290 29,654 279, 242 14,198 92, 095 98,127 65,482 10,402 37,155 4,888 25, 529 30, 948 35, 662 17, 291 14, 235 30, 928 199,448 2,640 11,085 208, 675 26,403 13, 789 14, 027 75, 000 200, 000 100, 000 100,000 30.000 50; 000 25,000 150,000 25, 000 50,000 100, 000 50, 000 60, 000 250, 000 25, 000 25, 000 74, 700 70,000 50,000 50,000 370, 007 1, 646,405 2,165, 240 25162, 935 340, 464 810, 787 159, 244 1, 832. 363 526, 408 604, 076 497, 434 328, 318 720, 833 2, 986, 210 143, 975 290, 678 1,063, 017 615,131 692, 615 360, 876 85, 406 617, 722 1, 264, 073 1,190, 676 114, 576 240,172 45, 617 1,074, 898 178, 945 242, 810 162, 672 145, 535 277, 316 896,417 65, 872 125,118 306, 338 277,155 410, 624 143, 625 33,402 50, 783 12,171 83, 389 10,147 21,450 9, 275 18, 550 7, 340 25, 569 22, 676 15,300 45,126 151, 630 15,467 8,491 30,832 27, 597 24,300 1,000 915 916 917 918 919 920 921 922 923 924 925 926 927 928 929 930 931 932 933 934 71284°—2S 208, 973 158, 705 43,489 167, 571 50, 26-7 204, 814 398,048 36,148 58, 524 305, 255 127, 066 124,828 63, 640 holders 264 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Progress o* liquidation to date of this report Offsets allowed and settled 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887 888 889 890 891 892 893 894 895 896 897 898 899 901 902 903 904 905 906 907 908 909 910 911 912 913 914 Total collected from all sources,, including offsets Loss on assets comRemaining Assets pounded Remaining uncollect- returned or sold uncollected ed stock to shareunder assets assessholders' order of ment agents court $32,830 3,834 46,499 3,272 22,023 25, 598 1,765 11, 761 $281,458 99,878 625,701 81, 295 562, 653 161, 410 165,056 133, 061 197,233 17, 204 113,130 19,038 17, 324 3,609 26, 676 90, 976 3,036 4,130 36,042 26, 479 2,403 41, 423 60, 586 20, 603 53, 427 151, 342 51, 350 221, 298 568, 566 124, 950 82, 808 414, 587 216, 666 132,916 420, 870 520,182 378,151 772,131 7,984 2,660 16,366 23,711 44, 033 5,821 12, 256 11, 208 5,969 182, 793 23,516 11, 478 5,350 32, 014 75, 562 15,927 1,007 22, 767 345, 701 4,049 7,915 20,532 125, 829 $785 Disposition of proceeds of liquidation Dividends paid Secured and preferred liabilities, including offsets paid 19, 326 $150, 325 146, 233 323,107 126,117 439, 674 142, 510 174, 427 108, 953 $7, 404 26,847 14, 275 34, 909 33, 423 5,900 29, 588 22,142 28, 370 9,443 24, 665 64, 267 5,902 23, 756 78, 230 11, 493 24,413 10, 066 431, 837 5,559 25, 226 64, 610 105, 339 49, 440 442, 709 116,940 98,297 436, 089 97, 608 214,950 175, 960 566, 658 302, 729 478, 063 2,340 23,000 20,097 49,493 27, 250 19,184 46, 514 14, 504 14,051 25,480 75, 047 35, 408 59,450 114, 219 133, 094 80,509 190, 671 293, 227 186,987 192, 851 214, 917 113,975 89 204 , 714, 320 293, 736 387, 434 346, 507 375, 815 685, 323 253,916 80,238 237, 765 66 993 127, 310 93, 522 26,047 74, 537 4,483 72, 675 31,185 50, 709 24, 008 28, 051 35, 904 58, 777 49, 346 112, 660 35, 319 124, 796 121, 853 39,960 21, 498 23,463 23, 258 1,157, 976 51, 687 895 171, 556 13,125 4,344 23,600 17, 300 24,000 52, 562 850 5,400 13, 602 25,000 6,535 143, 007 7,682 63,485 47, 075 67, 076 18,000 26,865 1,300 107,135 16, 575 7,038 119,105 183, 333 44,181 43,606 161, 367 48, 436 8,864 378, 281 96, 079 148, 440 70,048 295, 838 452, 257 145,952 10, 451 109, 211 •1,105, 666 47, 595 71,290 43, 617 54, 535 42, 588 17, 475 61, 098 96, 947 112, 351 12, 331 45, 559 61, 517 282,914 166, 656 184, 071 231,861 33, 525 154, 583 86,680 54,895 104,546 1,375, 598 60,904 8,817 260, 775 687, 075 119, 482 93,940 19, 742 106, 682 73, 832 422, 032 126,162 208, 394 41,598 149, 217 87, 829 16, 611 19, 853 28, 550 15, 725 131,450 17, 660 24,431 77, 324 34, 700 14, 874 98, 370 9, 533 16, 509 43, 868 42, 403 25, 700 49,000 34, 857 330,167 1,041, 596 987, 332 27,126 45, 211 11,517 61, 335 94, 952 86,183 85, 906 58, 071 190, 955 208, 363 48, 581 91, 509 83, 788 224, 629 200,640 67, 584 416, 696 210, 792 135, 733 88, 532 182, 903 41, 227 1,062, 496 70, 778 128,188 92, 742 101, 564 79, 298 647, 815 26,132 11,232 217, 452 67, 906 189, 774 127, 111 108,987 299,291 170,959 188, 799 217, 081 199, 490 19, 392 210, 259 176, 262 103, 509 256, 693 286, 586 176, 609 414, 624 122, 524 108 898 , 68,383 450 65,029 125, 592 219,356 485,161 155,123 547, 204 623, 798 720, 512 177, 544 487, 796 72,166 438, 236 284,158 253, 996 163, 600 109, 968 305, 774 1, 724, 621 27, 730 122, 238 306, 521 219, 440 121, 504 51, 782 2,696 799, 719 150, 265 131, 214 1,367,013 86/600 90, 769 1,337, 234 63,169 88, 578 143, 067 18, 344 272, 047 10,425 22, 394 16,461 71, 353 73,122 96,107 1,189, 555 29,195 195, 395 9,110 19, 387 306, 262 37, 883 200, 570 55, 940 15, 222 175, 937 7,713 15,102 349, 445 50, 740 27, 003 19,360 95, 812 1,143, 859 89, 915 16, 797 8,576 144, 781 7,150 11,172 375, 260 337, 368 38, 090 324,142 29,146 19, 390 461, 698 205, 217 26, 774 147,132 107,128 57, 616 2,507 " Including dividends paid b y purchasing bank. 915 916 917 918 919 920 921 922 923 924 925 926 927 928 929 930 931 932 933 934 $162,535 20,781 332,835 36,076 64, 726 87, 330 17,600 38 268 $65, 547 49,181 145,833 25, 238 400, 053 39, 799 122, 639 68, 415 57,807 68, 695 28, 301 28,454 279,157 69,486 41, 675 169, 265 54, 790 52,064 54,060 194,928 159,875 79, 033 116,112 226, 414 29,912 25,803 153, 721 132, 022 53, 052 314, 581 211, 266 163,853 292, 265 65,000 67, 067 KEPORT OP THE COMPTROLLER OF THE CURRENCY 265 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash in Amount hands of comp- * returned to sharetroller holders and in cash receiver Amount of claims proved Dividends (per cent) Cash advanced in protection of assets Receiver's salary, legal, and other expenses $1, 232 29 32,334 1,334 10,823 1,321 $28,461 16,929 31, 601 11,175 28, 572 18, 452 8,727 15, 650 $23, 683 12,958 83,098 7,472 58, 479 14, 508 16,090 10, 539 $248,960 138, 903 832, 300 72,153 647, 206 158, 769 176, 006 153,161 60 15 40 50 10 55 10 25 14, 469 10, 884 20,006 40,980 19,251 11,835 34, 663 21, 402 14, 548 19, 792 45,186 19, 934 60,142 8,178 12, 067 56, 726 14,939 3,854 3,330 46,265 4,111 4,106 23,141 51, 518 19,455 301,243 115,631 102, 880 232, 254 452, 708 78, 482 86, 593 615, 222 175, 708 279, 863 393, 230 905, 963 321, 285 993, 341 50 1,708 6,412 21, 613 34 126 826 93, 050 319 1,483 3,733 11, 490 7,577 18, 724 16, 367 26, 303 18, 333 22, 366 11, 083 12, 706 27,176 20, 707 23, 388 16, 339 22, 876 52, 345 18, 421 8,624 15, 516 65,447 11, 951 10, 503 30, 321 34,095 28,705 9,877 18,396 10,706 8,883 4,894 24,172 10,290 31,067 28,259 17,164 4,525 2,829 6,142 7,666 23,232 6,541 1,429 38,191 79,134 114, 993 476, 422 366, 533 220, 903 210, 775 358, 608 76, 461 186, 447 495, 900 90, 353 303,105 305, 323 537, 761 670,115 247, 788 96, 071 141,155 1,080,091 133, 542 158, 432 25 50 30 20 45 63 5 75 100 45 15 55 65 55 10 70 10 30 45 4,873 16, 857 40, 663 43, 924 11,113 356, 809 703, 397 20 60 11, 905 30, 050 41, 765 41, 089 19, 837 20, 383 11,971 23, 528 14, 057 32, 751 13, 001 12,101 21, 228 43, 681 8,273 8,620 19, 976 21, 975 13, 666 9,816 6,779 14, 396 71, 441 170,881 6,939 9,294 6,638 29, 432 14, 991 58, 588 7,548 361 55, 515 105, 819 6,717 29, 744 54, 027 8,911 57, 618 10,152 170, 240 723, 498 1, 490,190 1, 645, 080 180, 987 573, 315 59, 816 409, 010 357, 686 351, 041 199, 778 114,142 477, 464 2, 014, 934 64, 948 228, 808 548,083 375,179 366, 213 205, 744 20 40 70 70 15 8 20 15 25 25 43 50 50 10 75 40 15 60 55 189 2,193 98 7,076 2,447 165 10, 673 4,341 9,146 9,296 17,284 15, 034 39, 448 161 2 23 1,272 3,724 9,679 165 8,147 14 1,223 1,777 4 468 379 8,410 1,419 2,199 633 14,256 7,764 617 552 1,373 3,840 2,449 138,181 212 3,676 17 721 53 Interest dividends (per cent) Finally closed 50 50 30 30 25 75 20 80 20 50 40 81.25 79 A u g . 31,1927 .0634 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887 888 889 890 891 892 893 894 895 896 897 8Q8 899 901 902 903 904 905 906 907 908 909 910 911 912 913 914 915 916 917 918 919 920 921 922 923 924 925 926 927 928 929 930 931 932 933 934 266 EEPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected front" all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. 935 937 938 939 941 942 943 944 945 946 947 948 949 950 951 952 964 955 956 957 958 959 960 961 962 963 965 966 967 970 971 972 973 974 975 976 977 978 979 980 981 987 990 991 992 993 994 <>95 996 997 998 999 1000 1001 1002 1003 1 Capital stock at suspension Title and location of banks Date of organization First National Bank, Lake Park, Minn First National Bank, Devol, Okla First National Bank, Dell Rapids, S. Dak... Globe National Bank, Denver, Colo First National Bank, Warren, Minn First National Bank, Winifred, Mont First National Bank, Hallock, Minn First National Bank, Buffalo, Minn Manilla National Bank, Manilla, Iowa Loveland National Bank, Loveland, Colo Winner National Bank, Winner, S. Dak Muskogee Security National Bank, Muskogee, Okla.. Corona National Bank, Corona, Calif.1 First National Bank, Forest City, Iowa Davenport National Bank, Davenport, Wash First National Bank, Pasco, Wash___ First National Bank, Howard, S. Dak Gregory National Bank, Gregory, S. Dak First National Bank, Hardin, Mont.2 First National Bank, Sac City, Iowa First National Bank, Brooklyn, Iowa Warren National Bank, Warren, Minn First National Bank, Covington, Ga First National Bank, Delano, Minn First National Bank, Creston, Iowa L Farmers & Merchants National Bank, Cannon Falls, Minn. Farmers National Bank, Lake Preston, S. Dak First National Bank, Jefferson, Iowa. Drovers National Bank, Denver, Colo__ First National Bank, Rifle, Colo Home National Bank, Cleburne, Tex First National Bank, Riverbank, Calif First National Bank, Malta, Mont Security National Bank, Mason City, Iowa Glasgow National Bank, Glasgow, Mont National Bank of Luverne, Luverne, Minn First National Bank, Greensboro, Ga Broadway National Bank, Denver, Colo First National Bank, Tama, Iowa First National Bank, W auk on, Iowa First National Bank of Gilmore, Gilmore City, Iowa_. First National Bank in Pocahontas, Iowa Cando National Bank, Cando, N. Dak First National Bank, Oroville, Wash First National Bank, Ada, Minn National Bank of Wessington Springs, Wessington Springs, S. Dak. Farmers National Bank, La Moure, N. Dak First National Bank, Estherville, Iowa Stoekmens National Bank, Brush, Colo Liberty National Bank of South Carolina at Columbia, S.C.i First National Bank, Pagosa Springs, Colo First National Bank in Kiefer, Okla First National Bank, Marion, N. Dak Spirit Lake National Bank, Spirit Lake, Iowa First National Bank, Deep River, Iowa First National Bank, Blue Mound, 111 First National Bank, Intake, Mont First National Bank, Frankfort, S. Dak Moline National Bank, Moline, Kans First National Bank, Fulton, Mo First National Bank, Shenandoah, Iowa First National Bank, Cambridge, Iowa First National Bank, Oktaha, Okla First National Bank, Granada, Minn Citizens National Bank, Wayne, Nebr First National Bank, Noblesville, Ind Feb. 10,1904 Nov. 4.1919 Apr. 21,1886 Feb. 5.1920 May 18,1901 May 17.1917 Aug. 5,1903 June 7,1917 Nov. 12.1901 Feb. 14,1906 Sept. 20.1921 Nov. 8,1922 Oct. 23.1906 Feb. 20,1893 Dec. 22,1904 Aug. 22.1908 Nov. 29.1902 Mar. 23.1909 July 20,1908 Oct. 6,1890 Dec. 22,1884 Dec. 28.1918 Oct. 28.1907 Nov. 23.1910 Oct. 22,1881 Feb. 14.1903 July 20,1915 Mar. 2f, 1906 Dec. 18.1919 Dec. 5.1901 June 17,1915 June 26,1913 Mar. 28,1910 July 16,1913 Feb. 19,1907 Dec. 4,1907 Aug. 1,1903 Aug. 22.1922 Aug. 5,1871 Apr. 22,1893 Dec. 2.1902 May 12,1924 July 16.1904 June 2,1906 Apr. 13,1900 Nov. 17,1924 $25, 000 25,000 60,000 200,000 50,000 25,000 60,000 50,000 25,000 100,000 60, 000 200, 000 25,000 75,000 100,000 50, 000 50,000 50,000 65, 000 50,000 Mar. Jan. Dec. Feb 1,1910 23,1892 22,1906 10,1910 50,000 Feb. 25,1926 100,000 Feb. 27,1926 35,000 Mar. 1,1926 500,000 Mar. 4,1926 Oct. July Apr. Dec. Mar. Aug. Nov. Dec. Aug. Aug. May Oct. May Feb. Aug. Mar. 4,1920 15,1922 30.1908 12.1905 14,1903 19.1909 29,1916 26,1914 31.1906 7,1906 5,1877 25.1907 13,1911 5,1920 25,000 25, 000 25,000 50, 000 25,000 25,000 25,000 25,000 50, 000 100,000 50, 000 80,000 25,000 25,000 60,000 62,500 Receiver appointed to complete unfinished liquidation. 1,1893 50; ooo 50,000 50,000 25, 000 50,000 25,000 25,000 50,000 200,000 50,000 100,000 25,000 60,000 100, 000 75,000 25,000 50,000 200,000 75, 000 100, 000 25,000 75,000 25,000 50,000 50,000 25,000 Receiver appointed Aug. 24,1925 Sept. 17,1925 Sept. 26,1925 Oct. 1,1925 Oct. 10,1925 Oct. 15,1925 Oct. 16,1925 Oct. 17,1925 Oct. 20,1925 Oct. 22,1925 Oct. 24,1925 N o v . 7,1925 N o v . 10,1925 N o v . 14,1925 N o v . 17,1925 N o v . 21,1925 N o v . 24,1925 N o v . 25,1925 N o v . 27,1925 Dec. 2,1925 Dec. 4,1925 Dec. 5,1925 Dec. 8,1925 Dec. 12,1925 do Dec. 17,1925 do Dec. 23,1925 Dec. 24,1925 do Dec. 28,1925 do__ do Dec. 29,1925 do Dec. 31,1925 Jan. 9,1926 Jan. 16,1926 Jan. 18,1926 do do__ Jan. 30,1926 Feb. 6,1926 Feb. 8,1926 Feb. 10,1926 Feb. 23,1926 Mar. 6,1926 Mar. 13,1926 Mar. 19,1926 Mar. 23,1926 Mar. 25,1926 Mar. 27,1926 Apr. 7,1926 Apr. 12,1926 .do. Apr. 24,1926 May 13,1926 May 22,1926 May 26,1926 May 29,1926 June 2,1926 June 3,1926 REPORT OF THE COMPTROLLER OP THE CURRENCY 267 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of Progress of liquidation to date of this report suspension Additional Estimated good Estimated doubtful Estimated worthless assets received since date of suspen- Total assessment of sharenoiQ6rs Total assets and stock assessment Cash collected from assets Cash collected from stock assessment $74, 204 19, 910 175,450 2,539, 757 70, 957 24, 780 108, 822 201, 553 50,137 211,496 39, 059 1,619, 895 $189, 398 87, 930 187, 071 1, 397, 671 306,034 51, 206 289, 048 394, 798 83, 259 358,406 74,124 420, 098 $71,312 3,699 217,830 962, 987 198, 315 28,634 93,098 168, 962 55, 521 115, 259 36,131 568, 726 $38,308 27,987 19, 331 264,853 20, 731 4,063 24, 659 41, 636 5,948 120,821 5,247 208, 228 $25, 000 25,000 60, 000 200,000 50,000 25, 000 60, 000 50, 000 25, 000 100,000 30,000 200,000 $398, 222 164, 526 659, 682 5, 365, 268 646,037 133, 683 575, 627 856, 949 219, 865 905,982 184, 561 3,016, 947 $145,574 52,021 315, 229 2, 383, 971 118,652 27,338 139, 973 430, 718 78, 382 340, 772 41, 547 1,827,439 $12,609 13,834 41,000 82, 021 19,126 1,000 37,800 11, 950 10, 200 90,337 10, 591 127, 085 86,914 276, 703 195,123 217, 976 249, 092 410,152 234,168 132,489 190,132 193, 265 237, 764 171, 526 115, 706 51, 464 17, 215 43, 642 22, 071 67, 801 20, 366 33,182 75, 000 100, 000 50, 000 50, 000 50, 000 853,472 804,468 561,119 529, 938 542, 754 262, 852 300, 801 269, 554 171, 859 152, 037 22,470 92, 667 10, 600 20, 841 14,300 178, 986 206, 238 75, 744 130, 580 62, 348 199,473 83, 583 260, 317 327, 604 322, 513 73,816 169, 269 205,437 233, 473 267, 819 74, 285 68, 220 54,652 141,956 76,179 26, 947 41, 996 33, 098 3,438 17,139 44, 898 9,548 50,000 50, 000 50, 000 50, 000 25, 000 50,000 25,000 749, 723 893, 657 555, 640 326, 054 328, 408 421,327 399, 747 306,143 362, 229 138,151 102, 279 146, 634 204,091 132, 928 29, 867 35,100 10, 008 34, 324 12, 850 21,900 425 935 937 938 939 941 942 943 944 945 946 947 948 949 950 951 952 954 955 956 957 958 959 960 961 962 963 49, 295 252, 574 431, 353 217, 357 72, 446 10, 692 57, 581 732, 522 63,107 55, 478 185, 389 1,828, 891 631, 380 266, 406 67, 401 112, 945 116, 956 48, 780 110, 663 70, 357 70, 064 133,356 406, 927 71, 808 107, 050 42, 459 155, 426 397, 029 138, 697 408, 302 82,192 293, 071 196, 322 545, 797 96, 762 288, 210 239, 772 63, 616 254, 692 39,433 90, 524 109, 620 687, 548 76,826 83, 757 100, 247 69,166 180, 520 86, 849 159,114 35, 661 441,108 199, 607 153, 382 79, 291 225, 639 72, 261 26,130 140, 919 20, 576 8,134 17,180 38,364 151, 080 30, 272 5,746 3,088 67, 782 43, 424 63,599 18, 230 54, 502 53, 750 31,099 16, 037 32, 806 21, 962 50, 694 73, 858 4,552 25, 000 50, 000 200, 000 50, 000 100, 000 25, 000 60,000 100, 000 75,000 25,000 50, 000 200, 000 75, 000 100, 000 25, 000 75, 000 25, 000 50,000 50, 000 25, 000 243, 017 562, 730 1, 764,192 567, 071 393, 525 184,144 345, 261 1,477, 853 407, 077 711, 493 371, 472 2, 817, 572 1,156, 059 1,096, 684 284, 491 734, 600 475, 951 239, 220 630,132 159, 918 60,127 244,173 453,100 184, 404 97, 474 50, 575 98, 940 819, 034 95,434 206, 563 126,027" 1,425, 511 380, 984 253, 424 96, 579 182, 667 155, 397 65, 769 209, 843 96, 504 7,324 4,000 32, 723 21, 014 23,135 10, 400 8,018 62,152 * 7,935 8,029 25, 487 32, 700 64, 078 61,119 5,617 37, 218 2,500 15, 988 6,783 4,187 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 55, 311 368, 560 139, 516 136, 408 106, 003 351, 584 94, 782 59,858 87, 969 63, 229 146, 515 850,888 7,956 115,330 20, 227 22, 009 50, 000 100, 000 35,000 500,000 307, 239 998, 703 436. 040 1,569,163 62,121 353, 663 196, 340 200, 760 32, 680 20, 500 19, 000 352,175 984 985 986 987 47, 695 85, 739 121, 501 290, 605 44, 239 69, 555 5,226 74, 551 128, 900 261, 270 535, 529 259, 692 39, 094 52, 879 209,167 297, 234 47, 420 36, 229 89,000 409, 078 54, 396 48, 942 13, 585 159, 555 131,441 169, 268 377, 004 252, 737 22, 235 47, 411 259, 776 124,043 6,691 61, 567 30, 239 58, 412 34, 882 65,194 « 28, 609 53, 549 197, 760 134, 314 227, 526 143, 442 18, 500 1,989 151,658 29, 244 2,542 3,328 4,600 44, 515 7,196 9,810 435 9, 648 8, 813 17, 241 34, 323 11,102 2,314 3,997 46, 660 12,189 25,000 25, 000 25,000 50, 000 25, 000 25,000 25,000 25, 000 50, 000 100,000 50, 000 80, 000 25, 000 25, 000 60, 000 62, 500 129, 348 211, 863 270, 340 852, 610 165, 713 218, 501 72, 855 322, 303 516, 914 682, 093 1,224, 382 746, 973 107, 143 131, 276 727, 261 525, 210 44, 466 68, 618 34,158 280, 216 76, 893 87, 619 10, 620 45,895 179, 423 307, 295 435, 342 112, 925 40, 886 53, 337 373,929 248,895 8,388 3,625 9,586 22, 092 12,400 16, 400 4,540 6,900 9,400 54,175 60,000 41,175 1,300 16, 525 19,000 47,035 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 1002 1003 268 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Disposition of proceeds of liquidation Progress of liquidation to date of this report Offsets allowed and settled Total collected from all sources, including offsets Loss on assets compounded Remaining or sold uncollected under assets order of court 935 937 938 939 941 942 943 944 945 946 947 948 949 950 951 952 954 955 956 957 958 959 960 961 962 963 $11,893 102 23,804 590, 750 10,137 7,046 11, 961 51, 540 5,578 39, 326 8,646 307, 686 $170,076 65, 957 380, 033 3, 056, 742 147, 915 35, 384 189, 734 494, 208 94,160 470, 435 60, 784 2, 262, 210 $25, 626 63, 886 260, 649 128,845 64,115 784 3,151 18, 209 4,877 425, 884 395 84, 923 2,061, 702 403,133 73, 515 360, 542 306, 482 106, 028 10, 978 27, 484 28, 745 21, 757 31, 263 296, 300 420, 952 308, 899 214, 457 197, 600 20, 534 25, 746 11,171 9,751 18, 230 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 10,141 25, 072 193,198 86,841 7,038 10, 245 545 114, 322 18, 793 17,845 12, 950 299, 601 38, 838 20, 568 6,668 114, 039 15, 806 1,278 24, 912 9,438 $190,129 23, 517 Remaining Assets uncollect- returned ed stock to shareassessholders' ment agents Dividends paid Secured and preferred liabilities, including offsets paid $103, 979 10,420 *328, 307 1,638, 579 103, 973 596, 899 $12, 391 11,166 19, 000 117, 979 30, 874 24, 000 22, 200 38, 050 14, 800 9,663 19, 409 72, 915 5,574 79, 262 304, 087 52,444 320, 872 19, 527 977, 540 $18,314 45,805 39, 093 1,172,124 92,342 23,385 72, 681 105, 218 25, 996 105, 707 . 25,547 1,078, 065 138, 287 32, 716 9,097 11,900 9,830 366,355 343, 467 203, 723 274,422 299, 624 52, 530 7,333 39, 400 29,159 35, 700 112, 709 202, 269 183, 221 101,133 35, 853 133, 030 186, 738 81,171 78,494 130,134 356, 544 423, 075 159, 330 146, 354 177, 714 225, 991 152,146 44, 088 100, 395 20,924 12, 026 8,308 328, 958 355, 287 335, 394 151, 998 130, 236 182, 236 223, 026 20,133 14, 900 39,992 15, 676 12,150 28,100 24, 575 199, 841 203, 969 29, 814 69, 784 113,859 15, 000 63,102 118,191 157, 404 94, 296 52,959 43, 600 125, 436 38, 880 77, 592 273, 245 679, 021 292, 259 127, 647 71, 220 107, 503 995, 508 109, 205 232,437 164,464 1, 757,812 483, 900 335, 111 108, 864 333, 924 173, 703 83, 035 241, 538 110,129 4,774 27, 285 185, 030 6,846 11, 358 9,883 185, 776 33, 558 11,126 52, 902 19, 568 186,774 57,124 30,976 225 55, 254 16, 445 142, 975 216, 200 732, 864 238, 980 177, 655 88, 441 17, 676 46, 000 167, 277 28, 986 76,865 14, 600 51, 982 37, 848 67, 065 16,971 24, 513 167, 300 10,922 38,881 19, 383 37, 782 22, 500 34, 012 43, 217 20, 813 13, 754 86, 514 169, 799 162, 399 50, 288 29, 386 7,250 463, 003 35, 233 80, 367 38, 244 1,174, 808 301, 429 143, 783 38, 441 41, 348 28, 667 145, 731 35, 322 50, 018 155, 706 387, 002 86, 950 58, 244 23,189 94,143 429,108 36, 496 64, 737 93, 463 334,194 129, 687 126, 651 34,198 266, 804 138, 260 34, 668 42, 221 32, 751 52, 50, 87, 535, 210 559 266 324 28, 086 280, 337 130, 730 350 10, 842 18, 988 25, 332 66,712 25,479 199,655 28, 423 63, 395 7,176 26, 236 142, 949 171, 757 373, 010 104, 388 33, 517 16, 051 55,249 113,733 984 985 986 987 17, 518 17, 481 25, 593 112, 319 391, 644 240,933 552,935 988 989 990 991 99?, 993 994 995 996 997 998 999 1000 1001 1002 1003 2,509 31, 628 1,967 38, 237 6,680 2,840 26 5,246 3,238 19,195 60, 373 18, 572 2,682 6,314 37, 550 17,163 55, 363 103,871 45, 711 340, 545 95,973 106, 859 15,186 58, 041 192, 061 380, 665 545, 715 172, 672 44,868 76,176 430,479 313,093 61, 745 15, 246 12,009 868, 403 12,980 485 1,898 20, 551 6,226 4,316 8,661 5,647 9,937 86, 343 2,861 6,770 49,387 410, 939 219, 681 409,183 162, 927 705, 686 604,113 691,716 156, 019 307, 640 263, 303 122,173 283, 632 28, 976 177, 600 512, 313 167, 098 44, 393 86,132 207, 317 463, 606 50, 914 98, 726 28, 548 240, 515 274, 316 169, 260 675, 806 535, 476 38, 575 39, 855 206, 395 196, 652 17, 79, 16, 147, 320 500 000 825 16, 612 21, 375 15, 414 27,908 12, 600 S,609 20, 460 18,100 40, 600 45,825 38, 825 23, 700 8,475 41,000 15,465 52, 696 50,177 15, 278 2,938 13,177 177, 303 121, 263 36,142 322, 802 166,184 REPORT OF THE COMPTROLLER OF THE CURRENCY 269 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash advanced in protection of assets Receiver's salary, legal, and other expenses $242 30 2,470 16,928 8,984 88 6,490 2,341 224 7,976 $12,065 5,588 10,163 101, 682 19,289 3,430 16,197 17, 571 8,724 12,439 8,345 39, 342 16, 382 3,452 4,377 5,212 6,531 4,038 4,220 5,697 315 Cash in hands of comptroller and receiver Amount returned to shareholders in cash Amount of claims proved Dividends (per cent) 127, 429 27, 300 2,907 15,104 64,991 6,772 31,417 7,365 159,287 $297,116 34, 225 493,767 3, 647, 997 445,209 57, 573 396, 214 609, 433 131, 295 482,114 65, 075 1, 369, 697 10 20 50 40 60 30 70 26,036 14, 649 21, 672 16,155 17, 544 8,093 13, 844 18, 458 13,463 7,538 594,137 404, 249 305, 421 337,143 261, 727 19 50 60 30 10 25, 861 25, 980 19, 672 11, 281 9,945 12, 610 12,964 8,613 31, 502 9,851 12, 015 10,310 4,572 35, 585 499, 599 583, 024 373, 615 155,192 228,004 50, 000 315, 528 40 35 8 45 50 30 20 4,727 11, 676 82, 669 25, 577 2,159 9,400 12,395 10, 241 4,280 2,173 14 10,835 19,906 469 122 6,165 745 9,034 176 8,994 18,086 35, 262 15,013 11, 711 8,789 6,110 30, 751 9,184 11, 884 10, 972 49, 988 23, 257 21, 472 10, 748 15, 729 14, 934 13,157 19, 672 12,191 60, 251 18,051 71,169 19, 612 198,808 18, 692 23, 299 25, 008 9,921 14,344 5,798 24, 880 29, 689 133, 915 276, 354 848, 997 273, 929 145,130 73,477 207,154 764, 665 176,168 536, 040 191, 821 1,956, 581 861,096 718, 953 192, 976 415, 867 243, 047 71, 667 416, 382 70,130 6,987 9,897 252 919 8,622 21,658 12,114 14,430 16, 414 29,193 10, 571 1, 912 2,240 7,900 9,500 7,889 17,197 5,320 8,441 2,048 7,587 8,173 13,597 22,404 11, 882 3,319 4,560 11, 890 16, 295 9,049 8,671 11,490 56, 639 11, 969 19, 745 2,785 8,411 40, 836 15,858 25,145 53, 589 7,856 19,423 40, 507 15, 340 $35,476 4,114 45 30 25 45 Interest dividends (per cent) Finallyclosed A u g . 19,1927 M a r . 25,1927 Jan. 68,373 1,615 99 1,263 4,289 2,320 5,245 456 853 14,358 84 239 2,630 103 2,150 3,893 2,813 176 31 1,541 10 30 20 60 35 40 3.5 60 20 15 20 70 35 20 20 10 22,1927 935 937 938 939 941 942 943 944 945 946 947 948 949 950 951 952 954 955 956 957 958 959 959 961 962 963 40 35 90 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 173,950 510, 005 211, 221 623, 213 30 10 40 84. 23719 984 985 986 987 54,156 76,462 202,195 526, 959 77, 284 118, 594 14, 880 263, 534 380,447 253,264 615, 387 314, 525 20,425 60, 562 461,217 255, 558 20 25 10 65 15 20 5 70 20 60 70 65 Sept. 30,1927 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 1002 1003 270 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Title and location of banks 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1064 1055 1056 1057 1058 1059 1060 1061 10G2 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 Date of organization Capital stock at suspension Receiver appointed First National Bank, Jonesboro, Ark Dec. 20,1905 $100,000 June 4,1926 do. First National Bank, Saco, Mont _ May 26,1910 30,000 Apr. 16,1915 First National Bank, Hayden, Colo__ _ 25,000 June 16,1926 25,000 June 22,1926 First National Bank, Barnsdall, Okla_ _ _. Sept. 17,1919 Nov. 6,1924 50,000 July 2,1926 Palm Beach National Bank, Palm Beach, Fla Feb. 24,1902 25,000 July 6,1926 First National Bank, Benson, Minn. May 1,1900 50,000 De Smet National B ank, De Smet, S. Dak _ do Aug. 3,1900 35,000 July 8,1926 First National Bank, Milford, Iowa May 12,1908 First National Bank, Dinuba, Calif.* _ 200,000 July 9,1926 Apr. 11,1905 First National Bank, Glenwood, Minn 35,000 July 14,1926 Nov. 14,1908 Whitbeck National Bank, Chamberlain, S. Dak 50,000 do— 25,000 July 22,1926 First National Bank, Cumberland, Iowa__ _. June 17,1904 July 9,1884 50,000 Guthrie County National Bank, Panora, Iowa do Apr. 9,1903 25,000 First National Bank, Royalton, Minn do Apr. 7,1915 25,000 July 23,1926 First National Bank, Pepin, Wis Aug. 6,1901 50,000 .do First National Bank, Woonsocket, S. Dak May 21,1915 50,000 July 27,1926 Peoples' National Bank, Bennettsville, S. C Dec. 17,1904 50,000 Aug. 6,1926 First National Bank, Eldorado, IU_ Oct. 7,1905 35,000 Aug. 16,1926 First National Bank, Adrian, Minn 25,000 First National Bank, Colman, S. Dak _. Feb. 20,1903 do Jan. 31,1902 25,000 Aug. 20,1926 First National Bank, Waubay, S. Dak Feb. 4,1907 40,000 Aug. 26,1926 First National Bank, Akron, Colo Mar. 24,1903 25,000 Sept. 4,1926 Oakes National Bank, Oakes, N . Dak May 29,1893 75,000 Sept. 10,1926 National Farmers Bank, Owatonna, Minn___ _. Mar. 24,1909 25,000 Sept. 18,1926 Anamoose National Bank, Anamoose, N . Dak Aug. 16,1910 40,000 do. First National Bank, Veblen, S. Dak May 11,1925 25, 000 Sept. 21,1926 Farmers National Bank in Lidgerwood, N . Dak Farmers & Merchants National Bank, Merced, Calif.. Jan. 4,1913 100,000 Sept. 23,1926 National Security Bank, Fairfax, S. C __. Mar. 23,1925 25,000 Oct. 1,1926 First National Bank, Lake Norden, S. Dak _. Mar. 3,1915 35,000 Oct. 5,1926 Dec. 14,1901 First National Bank, Fulda, Minn 25,000 Oct. 7,1926 Feb. 16,1905 First National Bank, Boswell, Okla 50,000 Oct. 8,1926 May 25,1871 National Bank of Franklin, Franklin, Tenn 100,000 Oct. 18,1926 Dec. 26,1914 do Farmers & Merchants National Bank, Lake City, S. C 100,000 Nov. 12,1909 City National Bank, Bismarck, N . Dak 50,000 Dec. 26,1907 American National Bank, Atoka, Okla 25,000 Nov. 1,1926 Feb. 6,1908 do England National Bank, Little Rock, Ark 300,000 July 3,1913 First National Bank, Broken Bow, Okla 25,000 Nov. 2,1926 Mar. 13,1914 do First National Bank, Haworth, Okla 25,000 June 30,1919 First National Bank, Clearbrook, Minn 25, 000 . . . . d o Aug. 19,1902 First National Bank, Toledo, Iowa 85, 000 Nov. 3,1926 Feb. 23,1916 First National Bank, Gonvick, Minn 25, 000 Nov. 5,1926 Sept. 14,1906 First National Bank, Kingsburg, Calif 50,000 Nov. 9,1926 May 21,1916 First National Bank, Brandon, Minn __. 25, 000 Nov. 11,1926 Aug. 17,1908 First National Bank, Ackerman, Miss 25,000 Nov. 12,1926 Oct. 16,1902 First National Bank, Milbank, S. Dak 50,000 Nov. 15,1926 May 1,1900 First National Bank, Armstrong, Iowa 50, 000 Nov. 17,1926 Aug. 11,1903 Citizens National Bank, Spencer, Iowa 100,000 Nov. 19,1926 Jan. 3,1882 State National Bank, Austin, Tex 100,000 Nov. 20,1926 Sept. 23,1916 First National Bank, AV ilder, Idaho 25,000 Nov. 22,1926 Dec. 21,1885 First National Bank, Detroit Lakes, Minn 50,000 Nov. 23,1926 July 17,1912 do First National Bank, Terril, Iowa 25,000 Jan. 7,1908 do. First National Bank, Steele, N . Dak.* 25,000 Mar. 17,1922 Standard National Bank, Washington, D . C. i do 200,000 Oct. 15,1914 Citizens National Bank, Petty, Tex 37,000 Nov. 24,1926 Feb. 6,1904 Farmers National Bank, Manor, Tex 40,000 Nov. 26,1926 Dec. 26,1883 Clarinda National Bank, Clarinda, Iowa 50,000 Nov. 29,1926 Dec. 17,1917 First National Bank, Marked Tree, Ark 50,000 Nov. 30,1926 Jan. 30,1893 First National Bank, St. James, Minn do 50,000 June 9,1902 First National Bank, Leeds, N . Dak 25,000 Dec. 1,1926 Aug. 29,1902 Farmers National Bank, Brookmgs, S. Dak 50, 000 Dec. 3,1926 Jan, 21,1904 First National Bank, Alta, Iowa_~_ 50,000 do July 19,1902 First National Bank, Elkton, S. Dak 25, 000 do Aug. 14,1889 Planters National Bank, Honey Grove, Tex1 100,000 Dec. 6,1926 May 3,1880 First National Bank, New Hampton, Iowa 50,000 Dec. 9,1926 Apr. 21,1905 First National Bank, Hannaford, N . Dak 25,000 Dec. 10,1926 Feb. 9,1875 First National Bank, Malvern, Iowa 50, 000 do June 15,1909 First National Bank, Stanley, N. Dak 25, 000 Dec. 15,1926 Feb. 9,1920 First National Bank, Haleyville, Ala 25, 000 Dec. 17,1926 1 a Receiver appointed to complete unfinished liquidation. Restored to solvency. 271 EEPORT OF THE COMPTROLLER OP THE CURRENCY appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of suspension Progress of liquidation to date of this report Additional Estimated Estimated good doubtful Estimated worthless assets received since date of suspens on Total assessment of shareholders Total assets and stock assessment Cash collected from assets Cash collected from stock assessment $229,374 56,137 58,407 182,269 213,140 47,737 167, 239 172,198 397 52,431 95, 001 56,050 235,065 145, 778 135,932 150, 314 184, 060 248, 020 141, 356 75, 290 33, 334 212, 648 74,486 656, 612 13, 025 40, 342 139, 590 278, 992 15,132 84, 671 86, 860 129, 242 213, 255 308, 687 285, 998 44,154 1, 727, 457 39, 231 26, 878 23, 475 269, 697 44, 235 183, 497 23, 805 35, 906 246, 562 111, 692 176, 889 902, 826 58, 531 222, 667 91,085 $277, 776 42,097 74,118 59, 798 197,071 101, 590 227, 373 292, 656 2,219 107, 067 133,599 84, 815 237,049 165, 489 128,487 137,140 163, 228 157,132 155,154 222, 568 92, 297 146, 436 168,189 885, 553 75, 670 107,964 185,902 658, 287 24,991 155,619 202, 035 72, 652 286, 596 309, 764 532, 595 51, 151 560, 600 112,109 80, 881 94, 460 328, 734 100, 736 170,050 83, 632 38, 354 165, 347 284, 974 201, 002 123, 837 57,313 485, 929 129, 476 $198,077 14,067 45,287 87,630 98,099 235, 747 142, 256 147, 254 197,448 88,698 96,008 57, 293 36,456 93,123 3,151 34,364 89,088 58,009 34,452 71, 424 84, 369 102, 731 27, 065 67,493 12,300 75,036 17, 227 436, 698 33,946 44, 651 134, 753 136, 005 239, 088 193, 358 244, 802 38,328 1,004, 782 3,474 9,801 35, 048 11, 417 46,805 96,139 79, 297 24, 400 47, 850 35, 346 376, 700 156,182 22, 238 156, 333 91, 242 $41,946 3,982 45,846 21,818 64, 936 14,034 29, 593 18,643 693 89,852 2,330 8,855 23,201 11,354 8,982 9,835 6,884 59,565 8,574 19, 517 7,847 7,473 11,120 44,459 38, 511 15, 227 8,990 100,867 53,172 7,498 13, 587 21, 583 47,222 24,497 33, 381 2,281 41, 540 2,885 1,962 1,849 17,847 10, 352 42,228 8,705 2,504 16, 216 10,818 17, 278 61, 593 2, 500 8,757 23,051 $100,000 30,000 25,000 25, 000 50, 000 25, 000 50, 000 35,000 200, 000 35, 000 50,000 25, 000 50,000 25,000 25,000 50, 000 50, 000 50, 000 35, 000 25, 000 25, 000 40,000 25, 000 75, 000 25, 000 40, 000 25, 000 100,000 25,000 35,000 25, 000 50, 000 100, 000 100, 000 50,000 25,000 300, 000 25, 000 25, 000 25, 000 85, 000 25, 000 50,000 25, 000 25,000 50,000 50, 000 100, 000 100, 000 25,000 50, 000 25, 000 $847,173 146, 283 248, 658 376, 515 623, 246 424,108 616, 461 665, 751 400, 757 373, 048 376,938 232,013 581, 771 440, 744 301, 552 381, 653 493, 260 572, 726 374, 536 413, 799 242, 847 509, 288 305, 860 1, 729,117 164, 506 278, 569 376, 709 1, 574, 844 152, 241 327, 439 462,235 409, 482 886,161 936, 306 1,146, 776 160, 914 3, 634, 379 182, 699 144, 522 179, 832 712,695 227,128 541, 914 220, 439 126,164 525, 975 492, 830 871, 869 1, 344, 438 165, 582 923, 686 359, 854 $303,997 53,189 63,474 148, 309 250, 925 95,167 178, 313 151, 286 6,747 122, 858 57,166 86, 300 223, 898 111, 921 103,606 103, 758 192, 818 159, 870 127,170 101, 624 34,166 152,842 44,133 593,835 22, 760 59, 766 128, 955 675, 203 25, 795 67, 041 134,157 173, 044 237, 429 201, 611 599, 592 32, 072 1, 937, 754 19, 777 31,197 44, 854 294, 659 37, 524 227,089 77, 445 52, 318 166, 530 137, 021 231,120 772, 642 55, 632 267,153 142, 688 $21, 295 1,675 18, 937 10, 380 46,525 4,306 24,900 8,656 101, 575 7,325 6,500 9,120 47,497 11,350 11,006 12,122 17,450 42,861 6,150 12, 604 4,360 10,313 3,293 20,084 4,915 18, 650 14, 650 47, 058 6,689 22,171 23, 531 7,512 54, 375 63, 863 50,000 5,800 150, 225 11,450 2,400 13, 685 73, 650 7,878 13,740 7,083 9,850 8,933 3,550 34, 400 76, 775 10, 247 19, 788 13, 036 8,992 54,100 64,116 327,800 33, 860 156, 218 64, 314 568, 348 205, 712 133, 437 202,663 43, 741 77,140 54, 862 261, 480 143, 751 256, 303 70, 332 454, 379 310,194 151, 422 201, 531 118, 512 19, 832 21, 428 198, 543 75, 547 121,955 34, 490 94,463 55, 057 40, 460 52, 921 1,603 8,164 1,530 15, 582 8,665 19, 991 3,383 28,184 14, 568 14, 955 38,952 200, 000 37, 000 40,000 50,000 50, 000 50,000 25, 000 50, 000 50, 000 25, 000 100, 000 372, 848 196, 236 181, 936 853, 405 311, 823 604,467 197, 519 1,195, 374 635, 531 365, 274 596, 067 36, 732 53, 895 40, 882 243, 862 35, 735 313, 389 33, 748 486,181 256, 374 123, 031 166, 376 2,007 24, 975 29, 650 23,250 162 25, 343 17, 356 37, 561 28, 304 12,875 59,455 15,177 122,241 63,255 48,872 112, 359 110,206 127, 639 97, 747 62,072 108,100 55,024 13,999 44,888 25, 268 35600 738 25,000 50, 000 25,000 25,000 259,496 415, 815 274, 518 186, 356 37,986 117, 294 36,397 43, 716 7,575 24,233 1,000 11, 750 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 lf)35 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 272 KEPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.— National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Progress of liquidation to date of this report Offsets alowed and settled 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 $19, 797 4,513 7,817 54, 336 60, 634 11, 321 19, 853 8,657 Total collected from all sources, including offsets $345,089 59, 377 90,228 213,025 358,084 110,794 223,066 168, 599 108, 322 133,891 68, 704 103, 985 288,277 131, 412 123, 775 127,889 220, 661 3,708 5,038 8,565 16, 882 8,141 9,163 12,009 10,393 24,107 11,215 2,400 2,775 3,409 9,846 122, 521 2,082 4,238 19, 401 90, 527 3,999 15,848 6,172 8,416 56, 818 59, 549 58, 603 4,211 551 3,220 3,650 8,163 34,109 11,180 17, 251 4,003 3,333 16,363 5,742 47, 924 83, 277 13, 819 57, 972 14,981 144, 535 116, 628 41, 301 166, 564 57, 272 736, 440 29, 757 82, 654 163, 006 812, 788 36, 483 105, 060 163,860 188,972 348, 622 325, 023 708,195 42,183 2,088, 530 34,447 37, 247 66, 702 402, 418 56, 582 258, 080 88, 531 65, 501 191, 826 146, 313 313,444 932, 694 79, 698 344,913 170, 705 3,281 11,011 59,986 9,465 31, 345 11, 683 79,068 37,016 5,125 24,161 82,151 81, 543 327, 098 45,3G2 370,077 62, 787 602, 810 321, 694 141, 031 249, 992 5,267 29,909 6,109 4,187 50, 828 171, 436 43, 506 59,653 Loss on Remaining Assets assets compounded Remaining uncollect- returned uncollected ed stock to shareor sold holders' under order of ment court $238 9,558 3,154 20, 804 20,470 3,401 19, 996 194,010 16,790 19,890 38,114 14, 046 4,237 6,437 50, 250 4,040 50 2,412 6,218 $423,141 49,023 152, 367 145,716 240, 883 272,150 364, 894 450, 812 194, 692 264, 734 92,258 252, 877 281, 636 159, 546 209,449 189, 799 338, 749 197, 111 284, 725 178, 494 226, 881 3,781 1,678 36, 287 4,007 5,709 28,245 5,600 6,473 438, 581 114,917 374 "5," 584" 17,417 4,364 33,647 3,314 33, 583 13,102 388, 519 2,141 43, 064 3,288 136,116 5,485 675 10, 519 2,531 32, 828 4,981 2,314 114, 664 174, 565 201, 675 672, 827 93, 440 209, 550 291,197 149, 777 486, 314 568, 673 $78, 705 28, 325 6,063 14,620 3,475 20,694 25,100 26, 344 98, 425 27, 675 43,500 15, 880 2,503 13, 650 13, 994 37, 878 32, 550 7,139 28,850 12, 396 20, 640 29, 687 21, 707 54, 916 20,085 21, 350 10, 350 52, 942 18, 311 12, 829 1,469 42, 488 45, 625 36,137 505, 497 173, 897 19,100 149, 775 13, 550 22, 600 11, 315 11, 350 17,122 36, 260 17,917 15,150 41, 067 46,450 65, 600 23, 225 14, 753 30, 212 11, 964 96, 575 89, 368 499, 557 216, 623 199, 214 127, 088 577, 594 259, 313 212,118 305, 530 197, 993 12, 025 10; 350 26, 750 49, 838 24, 657 7,644 12, 439 21, 695 12,125 40, 545 186, 262 216, 298 207, 012 113,453 17, 425 25, 767 24, 000 13. 250 99, 631 1,281,157 134,702 84, 301 101, 815 293, 343 153, 424 230,157 109, 627 11, 866 289, 768 266,484 479, 723 Disposition of proceeds of liquidation Dividends paid $93,194 21,334 34, 333 92, 894 213,191 90,000 74,320 55, 534 146, 291 29, 704 80, 600 21, 782 18, 897 108, 572 31,306 29,727 12, 831 22, 513 366, 747 24, 559 36, 774 243, 616 52, 917 21, 750 99, 750 485, 640 12,141 840 14,923 241, 895 97,077 26,179 8,234 28, 295 38, 081 705,002 40, 010 119,169 105,109 18,301 37, 580 106, 312 277, 539 21, 767 264, 622 186, 802 48, 794 101, 525 60, 528 Secured and preferred liabilities, including offsets paid $221, 590 29, 242 36, 521 97,902 77,086 67,391 129, 383 130,463 5,886 46,956 56,951 30,015 92, 709 65, 519 22, 823 81, 636 170, 965 88, 296 80, 792 69, 944 17, 599 123, 709 35, 845 266, 993 12, 864 36, 920 103, 577 414, 668 11, 555 31, 396 108, 619 153, 673 165, 656 129, 473 193, 433 21, 377 1,922,808 13,108 19, 023 30, 657 142, 111 26,106 113, 788 35, 705 47, 261 132, 207 117, 490 204, 083 177, 520 21, 583 196,879 25, 229 34,599 51, 061 11,011 166, 750 26,301 60, 672 25, 940 269, 725 109,401 82, 846 124,914 28, 894 75, 682 19,051 38,022 REPORT OF THE COMPTROLLER OF THE CURRENCY 273 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds o f liquidation Cash in hands of comptroller and receiver Amount of claims proved Cash advanced in protection of assets Receiver's salary, legal, and other expenses $708 108 503 221 500 337 2,000 2,312 $16,008 4,004 7,627 14, 449 15,144 10, 769 14, 014 15,624 4,847 9,308 7,162 7,073 13,668 10, 520 6,477 9,507 9,520 13, 325 6,987 9,094 6,298 9,928 10, 225 30,250 5,606 8,023 9,282 23, 527 4,237 5,583 8,778 4,603 15, 538 16, 824 11, 558 5, 207 4,128 6, 017 4,011 4,768 8,437 4,478 7,573 4,900 5,223 8,677 7,273 15, 885 7,221 5,099 11,120 7,058 $13, 589 4, 689 11, 244 7,559 52,163 32, 297 40, 840 20,200 7,589 3,307 4,590 11,256 31,121 22,198 12,693 12,057 21,004 16,517 23,489 7,863 4,573 9,322 9,526 66, 303 9,133 12, 005 10,157 120, 705 20, 660 13, 446 39,747 29, 596 143, 942 76, 628 17, 564 3,395 161,594 15,175 13, 373 16, 354 9,015 25,998 39,071 14, 896 4,454 22,647 19, 958 38, 777 42, 502 12,447 15,116 32, 801 $452,037 53, 335 114, 743 201, 293 391,763 305, 617 370, 576 370, 376 200, 608 185, 803 148,168 140,955 365,661 308, 691 243, 251 212, 021 190, 885 331, 779 210, 039 285, 259 178, 724 313, 761 171, 034 1,244,486 77, 683 162, 982 328,663 974,975 40, 887 211,673 254,614 111, 359 299, 588 498, 785 778, 261 80, 945 2,600,625 52,618 24, 869 99,915 372,979 148, 684 420,648 131, 005 32,949 278, 898 243,200 382, 022 839, 235 83,432 594, 826 262, 772 392 4,140 4,976 5,890 7,494 3,668 7,281 4,089 13,470 6,971 5,348 7,450 7,744 26, 795 45, 659 15, 393 23, 858 4,814 32, 759 16, 627 4,043 15, 711 63, 228 75,163 537, 978 80,674 427, 213 111, 328 756, 061 415,115 240,028 254, 246 795 5,086 603 152 6,104 4,810 6,870 5,232 15,035 25, 330 16, 982 16, 247 118, 364 201, 828 156, 625 88, 495 , 1 107 4,488 3,471 1,882 2,907 275 128 1,961 1,092 1,676 6,147 2,154 1,147 3,216 10, 272 31 1,718 6,716 1,100 1,736 2,348 63 147 960 571 6,851 329 1,592 16, 618 389 559 2,629 508 69 267 883 727 6,177 22,234 1,893 Amount returned to shareholders in cash Dividends (per cent) Interest dividends (per cent) Finally closed 20 40 30 45 55 10 44 8 40 40 40 10 35 10 10 30 15 10 20 10 30 15 15 25 25 10 20 60 15 10 15 40 30 20 35 10 10 50 20 40 A u g . 17,1927 M a y 2 1927 30 50 20 65 20 35 45 20 40 30 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1089 1070 1071 1072 274 BEPOKT OF THE COMPRTOLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Title and collection of banks 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1134 1135 1136 1137 1138 1139 1140 Capital Date of Stock at organization suspension Receiver appointed National Bank of Oakesdale, Oakesdale, Wash___ Apr. 25,1908 $25, 000 Dec. 21,1926 Farmers National Bank, Newport, Ark June 6,1916 50,000 do First National Bank, Plattsmouth, Nebr Dec. 12,1871 50,000 do Apr. 29,1907 35,000 Dec. 27,1926 First National Bank, Adair, IowaApr. 17,1905 40,000 Dec. 29,1926 First National Bank, University Place, Nebr 40, 000 Jan. 3,1927 Story City National Bank, Story City, Iowa__ , June 24,1912 Apr. 18,1903 25,000 Jan. 4,1927 Citizens National Bank, Ortonville, Minn Mar. 20,1911 25,000 Jan. 5,1927 First National Bank, Collinsville, Okla Apr. 10,1913 35,000 do Citizens National Bank, Koyal, Iowa Nov. 23,1916 25,000 Jan. 7,1927 First National Bank, Carlyle, Mont Mar. 10,1902 50, 000 —_do Monti cello National Bank, Monticello, Ind. i Jan. 15,1921 50,000 Jan. 8,1927 First National Bank, Cardwell, Mo _ Aug. 3,1881 75,000 Jan. 10,1927 First National Bank, Nevada, Iowa2 July 11,1902 35,000 Jan. 12,1927 First National Bank, Granger, Tex. Nov. 24,1905 25,000 Jan. 13,1927 First National Bank, Renwick, Iowa Aug. 5,1900 35, 000 Jan. 14,1927 First National Bank, Moulton, Iowa__ July 1,1908 100, 000 First National Bank, Delano, Calif. do Mar. 21,1894 50, 000 Jan. 15,1927 National Bank of Jerseyville, Jersey ville, HI June 18,1901 50, 000 Jan. 18,1927 First National Bank, Argyle, Minn— 25, 000 First National Bank, Boyceville, Wis ._. Dec. 8,1917 do June 10,1925 50,000 Jan. 20,1927 Citizens National Bank, Commerce, Tex May 18,1925 25,000 . . — d o Citizens National Bank, Lone Oak, Tex June 7,1904 25,000 Jan. 21,1927 First National Bank, Beardsley, Minn July 19,1910 25,000 Jan. 24,1927 Farmers National Bank, Red Lake Falls, Minn Apr. 10,1883 50,000 Jan. 31,1927 First National Bank, Biggsville, 111.x— Aug. 29,1905 85,000 First National Bank, Edgeley, N. Dak do Apr. 30,1906 50,000 Feb. 1,1927 Farmers National Bank, Lidgerwood, N. Dak Aug. 13,1895 50,000 First National Bank, Britt, Iowa__ do Apr. 12,1872 60,000 Marion County National Bank, Knoxville, Iowa do May 25,1903 50, 000 Feb. 5,1927 First National Bank, Montevideo, Minn. Feb. 25,1908 25,000 do Peoples First National Bank, Olivia, Minn July 27,1920 25,000 Feb. 9,1927 First National Bank, Lincoln, Ark _._ Feb. 13,1904 25, 000 Feb. 10,1927 First National Bank, Clinton, Minn_ Jan. 22,1902 50, 000 Feb. 18,1927 Citizens National Bank, Albert Lea, Minn May 25,1880 do 65,000 First National Bank, Marengo, Iowa May 11,1871 50,000 ____ First National Bank, Allegan, Mich_ July 24,1905 25,000 Feb. 19,1927. First National Bank, Rolette, N. Dak 25, 000 Feb. 21,1927 Farmers &MerchantsNationalBank,MountMorris,Pa. Sept. 22,1903 Aug. 1,1903 50, 000 First National Bank, Rush City, Minn..May 29,1899 24,1927 300, 000 Feb.do. Central National Bank, Marietta, Ohio Sept. 14,1904 25,000 Mar. 1,1927 American National Bank, Stigler, Okla__ _ May 31,1872 60, 000 Mar. 3,1927 First National Bank, Belle Plaine, Iowa Jan. 20,1905 50, 000 M a r . 7,1927 First National Bank, Dunbar, Pa June 20,1900 35, 000 M a r . 9,1927 Exchange National Bank, Leon, Iowa Oct. 12,1905 25,000 Mar. 11,1927 Warren National Bank, Franklin, Ohio June 21,1920 50, 000 M a r . 17,1927 First National Bank, Warsaw, N. C.._ Feb. 22,1893 75, 000 M a r . 22,1927 First National Bank, Hartley, Iowa May 23,1904 25, 000 M a r . 23,1927 First National Bank, Norway, Iowa.._ May 2,1908 50, 000 M a r . 25,1927 United States National Bank, Dinuba, Calif Mar. 19,1919 do. 35, 000 First National Bank, Lepanto, Ark Mar. 31,1890 300, 000 M a r . 26,1927 Provident National Bank, Waco, Tex.* June 23,1905 75, 000 M a r . 28,1927 First National Bank of Benson, Holsopple, Pa Feb. 8,1888 150, 000 M a r . 29,1927 First National Bank, Sheldon, Iowa Feb. 13,1907 45,000 M a r . 31,1927 American National Bank, Green City, 1Mo 300, 000 .....do Geneva National Bank, Geneva, N. Y. _. Feb. 27,1865 Feb. 2,1904 100,000 First National Bank, Columbia City, Ind do Apr. 3,1917 50,000 Apr. 1,1927 First National Bank, Fairfax, S. C 1 .Apr. 19,1920 100, 000 Apr. 2,1927 First National Bank, Lake Worth, Fla Feb. 21,1898 50, 000 Apr. 8,1927 First National Bank, Lake Mills, Iowa Apr. 23,1904 25,000 Apr. 9,1927 First National Bank, Line ville, Iowa Jan. 23,1909 100,000 Apr. 29,1927 First National Bank, Bend, Oreg Oct. 13,1925 25, 000 Apr. 30,1927 New First National Bank in Lamberton, Minn 25, 000 May 5,1927 First National Bank, Dubois, Idaho __ Oct. 27,1919 Apr. 2,1907 25, 000 May 10,1927 First National Bank, Biwabik, Minn 100,000 May 11,1927 Farmers & Merchants National Bank, Cleburne, Tex. May 26,1890 150, 000 May 14,1927 City National Bank in Kearney, Nebr ___ Dec. 3,1926 Mar. 21,1911 65,000 Laurel National Bank, Laurel, Nebr. do 50,000 May 17,1927 Fermers & Merchants National Bank, Alcester, S. Dak. Dec. 30,1915 1 2 Receiver appointed to complete unfinished liquidation. Restored to solvency. KEPOET OF THE COMPTROLLEE OF THE CURRENCY 275 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of suspension Additional assets received since date of Estimated Estimated Estimated suspengood worthless doubtful sion Progress of liquidation to date of this report Total assessment of sharenoici6rs Total assets and stock assessments Cash collected from assets Cash collected from stock assessments $31,502 146,977 184, 204 180,113 43, 928 190, 633 153,619 86, 376 122,587 36,308 22,451 97, 536 153, 335 $42,923 37,070 103,238 94,535 92,544 36, 027 61,801 65,128 99,177 11,920 102,404 26, 359 163,565 $5,076 7,778 5,276 14,451 3,747 9, 981 8,481 42,873 12, 767 144 19, 612 1,124 6,695 $25,000 50,000 50,000 35,000 40,000 40,000 25,000 25,000 35,000 25,000 50,000 50, 000 75, 000 $140,133 408,826 449,181 386, 047 241, 830 349, 267 385, 347 488, 303 329, 278 85, 724 235,471 184, 325 503, 357 $34,966 151, 017 110, 737 106,407 67,245 110, 631 94,904 148,643 134,427 565 31, 014 14, 682 101, 071 $2,500 20,646 12, 888 10, 067 5,300 15,430 24,028 6,500 11, 292 15, 250 61,829 81,208 318, 239 160, 407 32, 742 83, 976 33, 944 46, 953 129, 615 56, 001 69, 347 82,976 222,142 165, 936 181, 364 80,986 137, 993 64, 687 131, 605 60, 794 19, 607 16, 824 121, 300 129, 855 45, 759 28,623 20,229 8,879 18,148 70, 934 7,650 12, 627 46,131 23,532 9,332 4,784 2,149 1,567 8,435 5,616 25, 000 35,000 100, 000 50,000 50, 000 25, 000 50, 000 25, 000 25, 000 25,000 183,433 228, 635 807,812 529, 730 319,197 223, 369 244, 315 147, 086 312, 803 218,345 43,973 88, 355 366, 676 182, 266 20, 886 73,067 59,696 25,856 82, 825 25,064 4,250 25, 000 46,860 15, 240 8,810 11, 050 20, 839 10, 500 4,000 2,500 112, 595 2,961 213, 518 298, 869 220, 693 63, 565 16, 531 67,100 523, 039 225,653 426, 298 34,184 241, 396 174, 063 1,406, 902 103, 630 337, 743 266, 910 175, 044 73, 553 129' 689 123, 687 65, 548 157, 880 20,127 201, 321 71,193 590,163 209,040 378, 541 248, 088 49,465 138,357 438, 983 509,479 80,065 91, 678 110, 423 145, 369 808, 391 216, 883 444, 734 163,121 97, 248 15, 626 109^ 560 221,179 132, 574 208, 856 86, 094 24,877 23, 794 49, 886 107, 986 151, 201 47,431 64, 744 19,759 26,337 119,445 248,461 65, 098 39, 348 122, 590 347, 892 69, 748 243, 669 28,015 117, 522 20, 078 55^ 838 118, 202 28, 437 112, 028 46, 731 85, 000 50, 000 50, 000 60,000 50,000 25, 000 25, 000 25,000 50, 000 65, 000 50, 000 25,000 25, 000 50, 000 300,000 25, 000 60, 000 50,000 35,000 73,975 794, 076 238,112 96,155 498,470 123,176 10, 492 123, 668 258,646 188,005 432, 725 149,074 914, 545 759, 629 806, 373 388, 844 160, 036 254,187 1,053,474 990, 275 815, 030 216, 528 420, 987 520', 829 3,190, 316 425,190 1,104,247 520,675 430,428 112, 388 347, 693 543, 728 283, 518 551, 400 192, 252 300, 249 383, 874 1,318, 241 500, 208 359, 793 1, 328,116 71, 071 11, 523 254,158 360, 207 223, 703 84, 607 14,463 50,329 281,603 277, 230 204, 206 19', 104 121, 689 145, 534 2,020,420 188, 859 329, 684 126, 399 85, 379 82, 995 65,309 135,972 83, 544 194,168 19, 373 249 82,611 395,847 85, 842 9,005 466,904 42, 799 9,100 27, 671 41, 664 11, 212 2,600 5,175 5,575 25,865 37, 285 7,000 2,416 23,100 6, 377 121,430 2,040 15,100 11,800 31,496 109,803 346,669 85, 001 3 841 512! 727 8,932 1,126 10,978 83, 734 5,938 4,760 4,296 3,971 15,115 70,698 10,206 568 4,820 28, 807 327,131 9,929 18,101 12,629 5,614 3,131 2,606 5,660 31,959 22/636 4,300 249 1,920 17, 004 8,427 1,151 28,914 938, 698 173, 318 169, 321 421, 441 40, 579 44, 759 182,311 497, 533 260,124 102, 723 689, 716 185, 376 74,434 86,211 184, 335 53, 320 5,903 333, 688 43, 281 42, 591 79, 928 288,688 6,644 5,968 8,120 1,779 33, 785 5,439 166,666 50,000 25, 000 100, 000 25, 000 25, 000 25, 000 2, 009, 254 543, 406 308, 915 1, 552, 965 296, 015 220, 569 378, 889 325, 385 117,217 70, 721 210, 593 40, 242 32,031 121, 254 43, 260 1,974 9,050 14,933 10,045 3,775 3,625 675,280 200, 309 136,778 1,643, 546 345, 851 240, 680 21, 783 155, 713 97, 892 32, 513 57, 079 6,040 150, 000 65, 000 50,000 2, 523,122 823, 952 531, 390 432, 091 133, 387 104,121 8,750 13,150 5,181 $35, 632 167,001 106,463 61, 948 61, 611 72, 626 136,446 268, 926 59, 747 12,352 41,004 9,306 104,762 * 50,000 75,000 25, 000 50,000 35, 000 300,000 75,000 150,000 45,000 100,000 5,003 41,800 300 15,895 11, 575 3,100 257,106 30, 027 9,255 37,290 59, 200 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1134 1135 1136 1137 1138 1139 1140 276 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Disposition of proceeds of liquidation Progress of liquidation to date of this report Offsets allowed and settled 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 11 ?,?, 1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1134 1135 1136 1137 1138 1139 1140 Total collected from all sources, including offsets Loss on assets comRemaining Assets pounded Eemaining uncollect- returned or sold uncollected ed stock to shareholders' under assets assessagents order of ment court $113 105 13,132 13,216 2,705 4,259 20,029 $39, 882 199, 349 145, 801 126, 598 89, 865 146,145 137,112 172, 212 160,474 17, 235 31,014 23, 944 162, 900 1,864 7,242 37,578 25,914 4,358 12, 736 6,910 6,388 10,465 5,261 50, 087 120, 597 451,114 223, 420 34, 054 96, 853 87,445 42, 744 97, 290 32, 825 12, 000 13,108 2,875 27,503 31,045 17, 573 11, 594 2,551 7,469 85, 489 31,506 23,496 1,431 16, 506 14, 364 109, 580 3,684 50, 983 29,148 24, 477 8,640 11, 419 26, 260 14, 028 17, 445 5,805 $2,416 27,686 22,176 10,124 17,320 20,084 18,180 17,069 14, 755 1,420 70,955 126, 978 23, 498 309, 332 432, 916 252,488 98, 801 22,189 63, 373 392,957 346, 021 234, 702 22,951 161, 295 166, 275 2, 251, 430 194, 583 395, 767 167, 347 141, 352 91, 635 76, 728 162, 532 113, 467 223,188 28, 278 257, 355 126, 515 475,943 134, 079 9,005 597, 059 355, 261 15, 258 12, 055 31, 370 12, 065 3, 251 8,736 723, 906 134, 449 91, 826 256, 896 62, 352 39, 057 133, 615 100, 706 17, 711 18, 563 541, 547 164, 248 127, 865 13, 877 70, 841 10,947 7,709 3, 839 60,180 54,119 2,950 1,828 8,407 10,154 308, 377 25,168 22,114 $77,638 180,018 253,136 221,300 114, 560 178, 552 247, 263 297, 591 137, 387 58, 739 154,457 115, 384 303, 418 $22, 500 29, 354 37,112 24, 933 34, 700 24, 570 972 18, 500 23, 708 9,750 50,000 44, 997 33, 200 100, 596 98, 038 243, 378 271, 550 189, 834 109, 616 125, 881 89, 842 194, 513 163, 020 20, 750 10,000 53,140 34, 760 41,190 13, 950 29,161 14, 500 21, 000 22, 500 263, 546 76, 269 572, 730 42, 201 40, 900 22, 329 18, 336 38, 788 22,400 19, 825 19,425 24,135 27, 715 43, 000 22, 584 1,900 43, 623 178, 570 22, 960 44,900 38, 200 3,504 489, 929 245, 529 118, 022 171, 389 619, 601 615, 943 537,066 169, 027 257, 792 310,931 16, 781 596 262 1,966 760, 316 5,583 16,006 202,064 647, 574 315,128 283, 748 1,824 10, 076 4,153 2,497 15, 250 40 18, 819 2,000 2,487 1,800 102 5,400 220,965 296,420 156, 793 287, 290 132, 074 212, 386 686, 303 358,379 331, 969 688, 257 24, 782 46, 955 35, 017 46, 590 30, 277 59,462 77,176 189,476 119,959 i 50, 000 74, 700 9,105 38, 425 31,900 42, 894 44,973 140,745 7,710 40,800 62,170 36, 036 60,400 91, 364 *362,433 181, 097 178, 682 51,142 94, 380 1, 817, 602 17, 506 56,040 64, 788 46, 763 116,946 Secured and preferred liabilities including offsets paid $16,636 62,326 62, 743 87, 683 30, 026 56, 689 80, 214 108, 777 87, 581 1,444 31,014 15, 719 71, 226 31,322 25, 908 183, 901 59, 631 18, 882 12, 872 50, 525 13, 287 15, 818 11,483 22,497 13, 785 186, 590 40, 757 129,132 49, 203 14,169 42,669 108, 268 66,180 145, 548 8,244 31,114 49,914 233,927 156, 385 194, 750 29,747 57,901 15, 389 38,984 103, 790 45, 574 44,847 17,123 246, 000 129, 887 273, 062 33, 407 315,969 68, 429 7,196 168, 705 1, 226,121 359,131 201,139 1, 211, 002 218, 708 160, 287 223, 797 56, 740 48, 026 15,950 85, 067 14,955 21, 225 21, 375 463, 750 92, 515 38, 250 120,904 35, 779 23,969 61, 424 1, 840, 325 602, 454 358, 706 141, 250 51, 850 44, 819 363, 608 106, 775 59, 397 * Including dividends paid by purchasing bank. $11,209 96,876 $20,753 • Dividends paid REPORT OF THE COMPTROLLER OF THE CURRENCY 277 appointment of receiver, and closing, with amounts of nominal and additional losses on assest, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash in hands of comptroller and receiver Amount returned to shareholders in cash Amount of claims proved Cash advanced in protection of assets Receiver's salary, legal, and other expenses $1,774 1,671 647 69 4,818 1,669 42 2,537 $3,908 6,233 8,133 5,537 5,465 6,132 6,160 9,135 7,168 1,644 $8,129 32,140 73, 254 7,949 7,350 43,489 49, 069 7,668 32, 911 14,147 2,122 2,909 6,674 5,316 23, 416 $74,827 228,686 238, 360 247,449 117, 554 181, 715 197,003 325,816 151, 294 33, 997 87, 229 24,459 247, 693 834 735 3,609 78 17 292 7 55 152 89 3,154 4,184 11, 037 10,162 4,438 3,875 5,407 3,674 3,914 5,400 14, 777 12, 594 63,091 33, 590 10,717 17,644 31, 506 25, 728 41, 370 15, 853 62, 265 154,355 360, 007 342, 747 180, 546 156,136 81, 955 62, 716 240, 242 109, 932 1,378 36, 873 9,554 21, 505 25, 298 112,384 42, 213 4,949 16,305 89,904 91,421 27, 996 11,738 123,733 14,816 184,278 15, 665 186,017 131, 325 22, 008 242, 721 74, 803 611, 031 467, 601 432,406 273, 283 58, 707 144, 266 738,293 715,910 512,060 112, 958 252, 942 327, 379 1,817, 602 117, 708 733,272 303, 548 287, 672 62, 944 139, 446 215,208 156, 205 391, 371 42,260 301, 754 174, 669 649, 449 230,137 7,721 5,830 159 9,707 4,348 9,300 6,061 2,860 3,954 12,239 9,332 9,730 2,969 5,736 6,900 15, 528 4,978 7,921 5,510 4,975 4,229 5,085 5,130 2,788 4,545 3,030 97 3,512 9,113 4,084 882 13,230 606 2,601 382 20,425 584 20 4,326 8,746 4,825 2,849 7,662 2,830 2,257 3,039 250, 804 34, 508 50, 345 107, 905 23,159 12,811 64, 826 986, 997 318, 624 208, 627 743,189 165, 543 39, 450 220, 079 173 9,001 5,312 2,909 168, 765 52,161 64, 218 1,089,119 Dividends (per cent) Interest dividends (per cent) Finallyclosed 15 45 10 40 20 15 20 25 M a r . 22,1927 166 80 1,672 1,324 211 445 1,449 406 286 712 265 95 49 7,079 765 428 208 1,652 4,615 85 7 1,827 11 1,341 $7,229 32, 451 51,960 18, 342 52,235 8,040 11,258 89, 589 19,147 61, 555 927 134,341 911,237 50 50 35 40 15 25 15 33.33 25 25 10 30 15 20 100 30 30 20 30 2.93 Oct. 17,1927 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1134 1135 1136 1137 1138 1139 1140 278 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assets, amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 81, 1927—Con. Title and collection of banks 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 Capital Stock at suspension Date of organization First National Bank, Grafton, N. Dak Nov. 14,1882 : First National Bank, Mansfield, Tex__ _. Mar. 8,1904 Stockmens National Bank, Nampa, Idaho % Jan. 22,1920 First National Bank, Chowchilla, Calif Mar. 29,1917 J Merchants National Bank, Greene, Iowa June 23,1903 First National Bank, Kennebec, S. Dak Sept. :20,1911 First National Bank, Medaryville, Ind Jan. :23,1907 First National Bank, Spencer, Iowa .__ _ May :26,1888 First National Bank, Farmersville, 111 Feb. 4,1911 First National Bank, Lamberton, Minn Apr. 2,1904 Peoples National Bank, Waukon, Iowa May 1,1912 First National Bank, East Grand Forks, Minn Sept. 7,1891 Fayette City National Bank, Fayette City, Pa May 16,1903 First National Bank, Webster, Pa June 20,1903 National Bank of Fayetteville, Fayetteville, N. C Dec. 12,1900 First National Bank, Bishop, Calif Nov.:21,1916 Citizens National Bank, Waynesburg,1 Pa Jan. 15,1890 First National Bank, Corydon, Iowa1 Feb. 16,1912 First National Bank, Sheridan, Ind. Apr. 2,1900 First National Bank, Spirit Lake, Iowa _ June 7,1892 First National Bank, Inwood, Iowa May :23,1904 First National Bank, Tabor, Iowa July 1,1891 First National Bank, Hawarden, Iowa2. June 15,1891 Farmers National Bank, Odell, 111 Nov.:29,1909 Central National Bank^Kearney, Nebr Jan. 26,1903 City National Bank of Kearney, Kearney, Nebr Dec. 26,1888 First National Bank, Mallard, Iowa May 19,1914 First National Bank, Bancroft, Iowa. Nov. 10,1900 : First National Bank in Sallisaw, Okla Jan. 3,1905 First National Bank, Muldrow, Okla Mar. 25,1911 : National Bank of La Grange, La Grange, Ind July 12,1894 First National Bank, Swea City, Iowa Oct. 24,1900 First National Bank, Milburn, Okla Jan. 3,1911 $50, 000 25,000 75,000 25, 000 50,000 50,000 25, 000 150,000 25,000 50, 000 125,000 50, 000 75, 000 25, 000 100, 000 50,000 500, 000 75, 000 75,000 50,000 50, 000 25, 000 50, 000 25,000 50,000 100,000 25,000 50,000 50, 000 25, 000 100, 000 25, 000 25, 000 Receiver appointed May 25,1927 do May 27,1927 May 28,1927 June 4,1927 June 20,1927 June 24,1927 June 25,1927 June 29,1927 July 6,1927 July 19,1927 July 28,1927 do___-__. Aug. 8,1927 Aug. 12,1927 Aug. 15,1927 Aug. 17,1927 Aug. 18,1927 do Aug. 25,1927 Sept. 6,1927 Sept. 14,1927 Sept. 15,1927 Sept. 21,1927 Sept. 30,1927 do Oct. 3,1927 Oct. 20,1927 Oct. 24,1927 do do Oct. 29,1927 Oct. 31,1927 34,059,500 1 Receiver appointed to complete unfinished liquidation. 3 Restored to solvency* REPORT OF THE COMPTROLLER OF THE CURRENCY 279 appointment of receiver, and closing, with amounts of nominal and additional losses on assets, expenses of receiverships, claims proved, dividends paid, and Nominal assets at date of suspension Progress of liquidation to date of this report Additional assets received since date of Estimated suspenworthless sion Total assets and stock assessments Total assessment of shareholders Cash collected from assets Cash collected from stock assessments Estimated good Estimated doubtful $227, 724 48,437 $450, 675 41, 027 $260, 775 20, 042 $5,603 5, 775 $50,000 25,000 $994, 777 140, 281 $127,414 30,940 $25,133 14,900 43, 316 60,231 19,043 42,447 245,121 62, 718 14 98, 784 279, 559 155, 469 169, 745 134, 982 55, 521 613,042 86, 237 45, 729 473, 901 215,106 62,428 124, 574 8,274 23,168 55, 375 41, 111 57,906 223, 916 45, 609 11,234 1,462 598 1,092 274,277 2,621 582 11,147 2 936 25, 000 50,000 50,000 77, 636 38, 210 3,590 19,992 216, 026 45,663 811 55,035 74, 882 5,500 4,850 1,200 150,000 25, 000 50,000 125.000 50; 000 297,447 406, 012 212, 897 122,228 1, 337, 815 217, 687 154,231 932, 748 593, 210 306,184 330,486 91,002 2,192 50,000 779, 864 70,975 23,747 41, 421 31, 820 4,986 75,000 176,974 7,443 35, 993 2,950 475 28, 425 1,615 3,575 j ! :::::::::::: 110,638,900 115, 615,186 66,497,481 71284°—28 27, 862, 949 ! ! : :: 1 r:~"":~ :~\:::"~:""~ 1 " " 1 i j 29, 634, 200 |350, 248, 716 137, 984, 668 12, 757? 301 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 280 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 40.—National banks in charge of receivers, dates of organization, assetSy amounts collected from all sources, loans paid and other disbursements, remaining assets returned to shareholders to year ended October 31, 1927—Con. Disposition of proceeds of liquidation Progress of liquidation to date of this report Offsets allowed and settled 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160. 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 Total collected from all sources, including offsets Dividends paid Secured and preferred liabilities including offsets paid $800,184 72,173 $24, 867 10,100 174,120 308,038 155, 782 100,084 883, 550 146,059 103,420 718,657 457,275 19, 500 45,150 48,800 114,007 22,050 49, 525 96, 575 48,385 100,267 629, 597 50,000 29,396 11,018 94,531 71,425 3,101 120,992,353 16,876,899 $17,179 12,168 $169, 726 58,008 20,691 187 3,525 2,152 68,839 965 24,872 11,053 103,827 43, 247 8,315 22,144 320,858 49, 578 1,286 108,332 87,550 29,292 20,793,835 Loss on Remaining Assets assets compounded Remaining uncollect- returned uncollected ed stock to shareor sold assets assessholders' under ment agents order of court $9, 577 19,400 9,184 171, 535,804 40,804,421 $29, 061 $17, 387 '12,168 63,805 28,123 4,446 10,023 73,189 42,919 50,182 25,551 $39,239 62,869,156 81,803, 512 REPORT OF THE COMPTROLLER OF THE CURRENCY 281 appointment of receiver, and closing, with amounts of nominal and additional losses on assest, expenses of receiverships, claims proved, dividends paid, and Disposition of proceeds of liquidation Cash in hands of Cash advanced in protection of assets Receiver's salary, legal, and other expenses $98 $4,753 2,355 $147,488 14, 424 2,528 3,390 1,376 1,179 5,069 1,561 135 2,222 2,155 36, 610 11, 512 2,493 10,942 239, 763 5,098 1,151 55,844 59,137 2,826 68, 045 884 222 2,837 84 707 comptroller and receiver Amount returned to shareholders in cash Amount of claims proved $634,270 58,124 Dividends (per cent) 50 Interest dividends (per cent) Finally closed July 15,1927 193, 651 50, 555 703,863 318,953 252, 077 76, 913 7,917 Sept. 26,1927 3,121, 570 9,988,538 13, 391,954 $361,074 187,254,275 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 282 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 41.—National ba?iks restored to solvency after having been placed in charge of receivers Receiver appointed Title and location of bank 111 163 200 203 208 209 215 220 223 224 232 233 242 300 318 343 374 401 403 416 417 418 473 498 507 529 539 644 550 553 555 556 561 562 566 572 584 595 604 608 609 622 627 631 636 637 639 641 647 690 705 712 730 750 786 790 792 793 826 828 900 940 953 956 1056 1086 1143 1163 Abington National Bank, Abington, Mass Farley National Bank, Montgomery, Ala First National Bank, Arkansas City, Kans City National Bank, Brownwood, Tex. Citizens National Bank, Spokane Falls, Wash First National Bank, Philipsburg, Mont_ _ Bozeman National Bank, Bozeman, Mont Montana National Bank, Helena, Mont First National Bank, Great Falls, Mont First National Bank, Kankakee, Hl__ First National Bank, Orlando, Fla Citizens National Bank, Muncie, Ind First National Bank, Fort Angeles, Wash State National Bank, Denver, Colo American National Bank, Denver, Colo First National Bank, Sioux City, Iowa Hampshire County National Bank, Northampton, Mass Seventh National Bank, New York, N . Y First National Bank, Austin, Tex Bolivar - • - National • - -Bank, - -Bolivar, • - Pa_ - Federal National Bank, Pittsburgh, Pa First National Bank, Allegheny, Pa First National Bank, Brooklyn, N. Y Union National Bank, Sommerville, Pa First National Bank, Burnside, Ky First-Second National Bank, Pittsburgh, Pa Marion National Bank, Marion, Kans First National Bank, Gallatin, Tenn American National Bank, Pensacola, Fla First National Bank, Islip, N. Y Farmers and Merchants National Bank, Mount Morris, Pa. Union National Bank, Providence, Ky First National Bank, Perry, Ark... Third National Bank, Fitzgerald, Ga Wharton National Bank, WTharton, Tex First National Bank, Casselton, N. Dak First National Bank, Daytona, Fla. First National Bank, Killeen, Tex First National Bank, Streeter, N. Dak State National Bank, Carlsbad, N. Mex Nocona National Bank, Nocona, Tex First National Bank, Tombstone, Ariz First National Bank, Lafayette, Colo First National Bank, Polar, Mont. First National Bank, Lawton, Okla National Bank of Hastings, Hastings, Okla First National Bank, Mohall, N. Dak First National Bank, Ackerman, Miss Merchants National Bank, Ada, Okla. First National Bank, Watts, Calif First National Bank, Wetumka, Okla __ First National Bank, Tower City, N. Dak__ Milnor National Bank, Milnor, N. Dak First National Bank, Spanish Fork, Utah Citizens National Bank, Jamestown, N. Dak Citizens National Bank, Sisseton, S. Dak Farmers National Bank, Red Oak, Iowa Powell National Bank, Powell, Wyo First National Bank, Walhalla, N. Dak City National Bank, McAlester, Okla First National Bank, Volant, Pa First National Bank, Libby, Mont Farmers National Bank, Laurens, S. C. ._ First National Bank, Hardin, Mont First National Bank, Steele, N. Dak__ First National Bank, Granger, Tex Stockmans National Bank, Nanipa, Idaho First National Bank, Hawarden, Iowa Total, 68 banks Aug. 3,1886 Oct. 7,1891 June 15,1893 June 20,1893 . . . July 1,1893 July 8,1893 July 23,1893 Aug. 2,1893 Aug. 5,1893 do Aug. 14,1893 do Oct. 5,1893 Aug. 24,1895 July 26.1896 Jan. 7,1897 May 23,1898 June 27,1901 ; Aug. 3,1901 • o c t . 1,1903 Oct. 21,1903 Oct. 22,1903 Oct. 25,1907 Oct. 16,1908 Sept. 17,1909 July 7,1913 Jan. 12,1914 Mar. 25,1914 Sept. 2,1914 Dec. 30,1914 Feb. 4,1915 Feb. 12,1915 May 17,1915 June 3,1915 July 29,1915 Dec. 6,1915 Apr. 16,1917 Nov. 16,1920 Feb. 16,1921 Mar. 19,1921 Mar. 25,1921 Aug. 25,1921 Sept, 16,1921 Nov. 9.1921 Dec. 12.1921 Dec. 22,1921 Jan. 4,1922 Jan. 12,1922 Feb. 20,1922 June 20,1923 Oct. 2,1923 Nov. 7,1923 Nov. 28,1923 Jan. 28,1924 Mar. 21,1924 Mar. 24,1924 Mar. 27,1924 do June 23,1924 June 24,1924 Mar. 7,1925 Oct. 6,1925 Nov. 21,1925 Nov. 27,1925 Nov. 23,1926 Jan. 12,1927 May 27,1927 Sept. 15,1927 Capital stock $150, 000 100, 000 125,000 150,000 150,000 50,000 50,000 500,000 250,000 50,000 150,000 200,000 50,000 300,000 500,000 100,000 250,000 500, 000 100,000 30,000 2,000,000 350,000 300,000 50,000 25,000 3,400,000 25,000 50,000 300,000 25,000 25,000 25,000 25,000 50, 000 30, 000 50,000 50,000 50,000 25,000 75,000 50,000 25, 000 25,000 25,000 200,000 25,000 25,000 25,000 100,000 50,000 40, 000 50,000 30,000 25,000 50,000 50,000 60,000 40,000 25,000 50,000 25,000 40,000 50,000 65,000 25,000 35,000 75,000 50,000 12,020,000 NATIONAL BANKS WHICH FAILED SUBSEQUENT TO SOLVENCY Citizens National Bank, Spokane Falls, Wash.1 Dec. 3,1894 First National Bank, Port Angeles,1Wash.* Apr. 26,1895 29,1895 Nov. First National Bank, Orlando, Fla. 1 Oct. 19,1899 First National Bank, Arkansas City, Kans. ... Ben Hill National Bank, Fitzgerald, Ga.112 _. Mar. 6,1916 State National Bank, Carlsbad, N. Mex. Aug. 25.1924 1 First National Bank, Mohall, N. Dak. Jan. 22.1925 First National Bank, Lawton, Okla.11 Nov. 18.1922 First National Bank, Poplar, Mont. _ _ Dec. 17.1923 First National Bank, Ackerman, Miss.1._ 1 _. Nov. 12.1926 Farmers and Merchants National Bank, Mount Morris, Pa. Feb. 21.1927 Total, 11 banks. 1 2 Second failure. Formerly "Third National Bank." 271 291 304 386 575 608 639 661 736 1048 1110 150,000 50,000 85,000 100,000 50,000 75,000 25,000 200,000 25,000 25,000 25,000 810,000 REPORT OF THE COMPTROLLER OF THE CURRENCY 283 TABLE N O . 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November I , 1927 Dividends paid during the year Name and location of bank Date of appointment of receiver Date National Bank of Abbeville, Abbeville, Feb. 7,1925 Dec. 30,1926 S. C. First National Bank, Ackerman, Miss_._ Nov. 12,1926 Aug. 9,1927 First National Bank, Ada, Minn- Feb. 10,1926 First National Bank, Adair, Iowa_ Dec. 27,1926 First National Bank, Adrian, Minn First National Bank, Akron, Colo Aug. 16,1926 Aug. 26,1926 Sept. 30,1927 do Dec. 9,1926 Feb. 23,1927 Mar. 16,1927 do May 18,1927 June 6,1927 July 18,1927 Sept. 21,1927 Mar. 3,1927 June 17.1927 June 30,1927 Oct. 21,1927 Sept. 19,1927 Citizens National Bank, Albert Lea, Feb. 18,1927 Minn. First National Bank, Alexander, N. Dak_ Apr. 15,1924 June Amount i $788. 70 8,233. 54 3,294.16 13.05 102,219. 68 1 1,303.17 41,636. 32 i 572. 05 16,328. 74 i 656. 44 i 7, 797. 14 i 280. 37 31,142. 68 1163. 54 22, 512. 79 1 8,373. 86 181,097. 28 Per cent Total dividends paid to creditors (per cent) 80 35 35 10 ~15 10 25 6,1927 l 502. 90 Aug. 11,1927 18.12 10 Dec. 13,1926 83, 068. 57 10 do 1 596. 88 i 545. 64 Mar. 3.1927 40 l 12, 658. 38 Nov. 24,1924 Dec. 9,1926 First National Bank, Algona, Iowa l 2,194. 48 Apr. 22,1927 25 51,142. 17 Feb. 19,1927 Aug. 25,1927 10 First National Bank, Allegan, Mich Dec. 3,1924 Mar. 7,1927 1 156. 27 First National Bank, Allendale, S. C May 2,1927 15 1 5. 37 Nov. 7,1924 Oct. 8,1927 1 83. 38 20 First National Bank, Alma, Wis. Dec. 3,1926 Mar. 28,1927 79, 631.17 First National Bank, Alta, Iowa.. May 6,1927 41,132. 05 do 1 2, 631.49 June 17,1927 i 912. 65 Sept. 7,1927 62, 267. 50 15 do i 227. 49 45 1 405. 00 Mar. 4,1922 Nov. 2,1926 State National Bank, Ardmore, Okla ~45 39, 670. 42 Mar. 3.1927 Apr. 17,1925 Dec. 21,1926 Georgia National Bank, Athens, Qa i 1,959. 79 1 1,167.91 Dec. 28,1926 i 426. 71 June 10,1927 10 i 116. 93 Aug. 29,1927 15 American National Bank, Atoka, Okla___ Nov. 1,1926 June 30,1927 12,140. 85 10 Apr. 10,1925 Mar. 3,1927 First National Bank, Bamberg, S. C i 23. 88 First National Bank, Bandon, Oreg _ Apr. 13,1925 Mar. 18,1927 21,134. 58 i 241. 08 do 14,089. 72 May 3,1927 70 i 180. 67 do_ June 22,1926 Nov. 22,1926 43, 293. 02 First National Bank, Barnsdall, Okla * 6,928. 33 Dec. 16,1926 i 2,427. 45 May 26,1927 i 128. 05 Aug. 15,1927 20 40,117. 20 Aug. 16,1927 45 i 4,619.11 Oct. 29.1927 Dec. 3,1924 Mar. 7.1927 30 1 7.95 First National Bank, Barnswell, S. C June 14,1924 Nov. 23, 1926 10 I 21, 565.30 First National Bank, Basin, Wyo 1 106. 75 May 6,1927 65 10, 789.95 June 1,1927 Jan. 21,1927 June 7,1927 33,978. 73 First National Bank, Beardsley, Minn 15 i 2, 057.49 Aug. 23,1927 Nov 13,1923 Dec. 9,1926 Union National Bank, Beloit, Kans 1 1,015. 05 1 59, 55 Feb. 23,1927 1 156. 65 June 30,1927 i 13.32 Oct. 11,1927 Peoples National Bank, Bennettsville, July 27,1926 Aug. 18,897.42 10 Aug. 23,1927 S.C. First National Bank of Benson, Hoi- Mar. 28,1927 Oct. 21,1927 61,134.13 35 sopple, Pa. i Represents payments made during the year on additional claims on account of dividends previously declared. First National Bank, Alexandria, Minn.. Jan. 8,1925 284 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank First National Bank, Biggsville, Ill_ Date of appointment of receiver Jan. 31,1927 First National Bank, Big Sandy, Mont_ First National Bank, Bisbee, N. Dak. _ July 7,1923 Jan. 28,1924 City National Bank, Bismarck, N. Dak. Oct. 13,1926 First National Bank, Blue Mound, I l l Edwards National Bank, Booker, Tex__. First National Bank, Boyceville, Wis. _ Mar. 27,1926 Dec. 12,1921 Jan. 18,1927 First National Bank, Brandon, Minn__. Nov. 11,1926 First National Bank, Bridgewater, S. July 18,1924 Dak. First National Bank, Bristow, Nebr Mar. 24,1924 First National Bank, Britt, Iowa Feb. 1,1927 Farmers National Bank, Brookings, S. Dak. Dec. 3,1926 First National Bank, Brookings, S. Dak. First National Bank, Brooklyn, Iowa... Feb. 9,1924 Dec. 4,1925 Stockmens National Bank, Brush, Colo. Mar. 1,1926 First National Bank, Buena Vista, Ga_ Jan. 26,1925 First National Bank, Buffalo, Minn Oct. 17,1925 First National Bank, Buffalo, Okla First National Bank, Buhl, Idaho Dec. 27,1924 Mar. 26,1925 Burgettstown, National Bank, Burgettstown, Pa. M a y 14,1925 First National Bank, Burley, Idaho Farmers National Bank, Burlington, Kans. Nov. 30,1921 M a y 21,1924 Farmers and Merchants National Bank, Cannon Falls, Minn. National Bank of Carlsbad, Carlsbad, N. Mex. First National Bank, Carlyle, Mont First National Bank, Carnegie, Pa First National Bank, Carrol, Nebr First National Bank, Carter, Mont Dec. 17,1925 Jan. 7,1927 M a y 12,1925 Aug. 13,1923 N o v . 11,1923 First National Bank, Carthage, S. Dak.. Feb. 12,1924 First National Bank, Cavalier, N. Dak.. Feb. 21,1925 Feb. 6,1924 Date M a r . 25,1927 Apr. 13,1927 M a y 9,1927 M a y 21,1927 J u n e 1,1927 J u l y 15,1927 M a r . 5,1927 Dec. 7,1926 M a r . 16,1927 Oct. 21,1927 M a y 9,1927 do M a y 20,1927 J u n e 23,1927 J u l y 27,1927 Aug. 29,1927 Dec. 1,1926 Sept. 30,1927 F e b . 19,1927 J u n e 30,1927 Oct. 11,1927 Sept. 9,1927 N o v . 24,1926 do M a r . 2,1926 J u n e 28,1927 Aug. 25,1927 M a y 23,1927 July 1,1927 Aug. 15,1927 Sept. 6,1927 do Aug. 11,1927 Jan. 8,1927 J u n e 30,1927 J u l y 1,1927 Jan. 8,1927 do J u n e 17,1927 do Apr. 13,1927 do Dec. 7,1926 Dec. 16,1926 A p r . 19,1927 Sept. 27,1927 N o v . 22,1926 J a n . 21,1927 Oct. 8,1927 M a r . 21,1927 J u n e 10,1927 Oct. 19,1927 M a r . 25,1927 Jan. 8,1927 F e b . 23,1927 J u l y 26,1927 M a y 27,1927 Sept. 14,1927 M a r . 25,1927 Aug. 29,1927 Oct. 8,1927 N o v . 17,1926 J a n . 19,1927 Dec. 30,1926 do__ Aug. 4,1927 do__ Dec. 28,1926 do Jan. 3,1927 do._ Amount $7,500.00 8, 500. 00 5,000.00 5,000. 00 6, 500. 00 8, 000. 00 4, 388.36 19,886. 67 1999. 88 1153. 21 413,052. 52 34,471.11 135,059.62 11,881. 06 1728.36 1447. 32 15,278.44 12,904.13 10,195. 29 62,170.24 1282. 87 26,179. 29 21,106. 93 U63.ll 8,335. 73 85,436. 41 15,928.20 169,138.94 116,762.14 12,822.23 75,607. 29 1291. 09 1428.74 145,175.18 58,274.96 11,125. 29 20,813. 29 1971. 75 21,122.08 1926.37 7,831.11 1309.67 12,511. 43 121,548. 45 1216.36 23,294. 70 1139. 94 1615.18 1406.88 12,207.52 1240. 00 164,507. 56 1 31,957. 03 l 632. 46 l 372. 21 l 246.87 31, 552. 25 1 41. 82 l 348. 75 l 1, 544. 75 13,617. 42 1.01 1 1,018. 80 4,016.84 1 409. 98 2, 578. 60 l 35.59 20,611. 70 i 69.95 53,789.17 Per cent 79.6 9 10 H00 860 Total dividends paid to creditors (per cent) 79.6 9 "16 a 100 8 60 15 17.62 40 10 10 5.75 15 15 37.62 40 20 60 45.75 15 25 10 35 10 25 10 35 10 "16" "16" 40 16"' 20 "16" 50 10 15 10 70 5.95 30 10 40 "26"' 10 40 70 6 10 36.5 ...... ~45~" 1 Represents payments made during the year on additional claims on account of dividends previously declared. 2 To nonassenting creditors in accordance with agreement. 8 To assenting creditors in accordance with agreement. EEPORT OF THE COMPTROLLER OF THE CURRENCY 285 TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank Date of appointment of receiver Date Amount Per Total dividends paid to creditors (per cent) i $543.69 Dec. 3,1924 May 6,1927 Aug. 11,1927 144.00 50 Farmers National Bank, Chandler, Okla. Apr. 10,1925 Apr. 6,1927 37,037.90 do i 208. 66 "55" Commercial National Bank, Charles- Feb. 7,1925 Jan. 26,1927 105,205.65 Feb. 1,1927 ton, S. C. 1 796. 24 May 5,1927 20 5, 799.81 First National Bank, Charlo, Mont Feb. 20,1924 Mar. 2,1927 71 422., 419. 50 Jan. 3,1927 July 9,1924 First National Bank, Cheyenne, Wyo__. do. 1131. 51 l 7,917.11 June 27,1927 45 106,312.02 20 Clarinda National Bank, Clarinda, Iowa. Nov. 29,1926 May 23,1927 20 l 4,838. 00 First National Bank, Clarkston, Wash_. Feb. 12,1924 Jan. 28,1927 60 5,727. 62 ~6.75~ City National Bank, Clarksville, Tex__. Mar. 9,1925 Nov. 13,1926 l 12. 31 Dec. 30,1926 106.75 l 12.03 First National Bank, Clayton, N . Mex.. Mar. 1,1924 Dec. 14,1926 10 14,922. 51 First National Bank, Clearbrook, Minn. Nov. 2,1926 Mar. 30,1927 15 First National Bank, Clear Lake, S. May 25,1925 Jan. 19,1927 14.24 35,768.55 May 16,1927 Dak. 25 l 200. 53 National Bank of Cleburne, Tex Oct. 27,1921 May 18,1927 i 739.77 Sept. 9,1927 i 2,366.71 Home National Bank, Cleburne, Tex Dec. 28,1925 Nov. 10,1926 Dec. 14,1926 14,430. 61 10 Mar. 25.1927 1189. 79 Sept. 16,1927 14,024. 22 35 22,238.79 First National Bank, Clifton, Ariz Apr. 2,1923 May 20,1927 15 1.30 First National Bank in Clovis, N . Mex._ Sept. 4,1924 Nov. 22,1926 May 26,1927 1 538. 28 June 3,1927 i 200.00 July 25,1927 1 980. 00 Aug. 29,1927 20,356.45 15 Sept. 22,1927 i 115.30 55 15.00 First National Bank of Clovis, N . Mex__ Feb. 20,1924 Nov. 22,1926 May 26,1927 i 10. 50 Sept. 15,1927 6,039.01 29 8,726. 48 City National Bank, Coalgate, Okla Nov. 8,1923 Mar. 7,1927 5 Sept. 9,1927 46,589. 54 Jan. 5,1927 First National Bank, Collinsville, Okla.. Oct. 29,1927 1 3,759.82 15 First National Bank, Colman, S. Dak__. Aug. 19,1926 May 14,1927 29,727.24 10 First National Bank, Columbia City, Mar. 31,1927 Aug. 18,1927 225,965.92 Aug. 23,1927 Ind. i 40,000. 00 Sept. 16,1927 1 7,096. 34 30 Liberty National Bank of South Caro- Mar. 4,1926 May 13,1927 306,019. 64 84.22 June 24,1927 lina, Columbia, S. C. 110,710. 00 .0178 '84.-2378 Stockmens National Bank, Columbus, Jan. 7,1925 Nov. 12,1926 19,601. 24 15 Apr. 14,1927 Mont. i 1,180.11 "IE First National Bank, Colusa, Calif Nov. 22,1922 Nov. 10,1926 1 12,261. 87 Mar. 2,1927 l 52. 44 Mar. 10,1927 48,868. 20 20.75 50.75 First National Bank, Conyers, Ga May 12,1925 Feb. 19,1927 20 17,330. 24 10 Corona National Bank, Corona, Calif Nov. 10,1925 Mar. 15,1927 1,032.15 3.35 28.05 Corydon National Bank, Cory don, Ind-. Mar. 8,1922 Aug. 8,1927 70 l 4,830. 00 First National Bank, Covington, Ga Dec. 8,1925 Dec. 6,1926 144.09 Dec. 9,1926 15,459. 38 May 14,1927 15,506. 71 do. 17.65 45 First National Bank, Crandon, Wis May 29,1925 Nov. 18,1926 i 9,275.69 Oct. 21,1927 11,627.78 25 First National Bank, Crookston, Minn.. Mar. 24,1924 Dec. 28,1926 108,173. 66 Mar. 2,1927 118. 90 "73" Citizens National Bank, Crosby, N. Dak Nov. 21,1923 Nov. 8,1926 1 1, 802. 68 Mar. 2,1927 1 538. 07 Mar. 16,1927 33,370. 58 22.1 57.1 First National Bank, Crystal, N. Dak_ _. Feb. 7,1925 Sept. 26,1927 25,065. 59 10 .do. i 66. 54 20 First National Bank, Cumberland, Iowa. July 22,1926 Dec. 14,1926 33, 708.19 25 Jan. 24,1927 1 543.11 Mar. 16,1927 1 178. 02 May 2,1927 20,683. 23 do. 1 42. 71 June 17,1927 l 291. 78 Aug. 18,1927 l 87. 26 Sept. 30,1927 l 847. 71 40 1 Represents payments made during the year on additional claims on account of dividends previously Digitized fordeclared. FRASER First National Bank, Center, Tex 286 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank Davenport National Bank, Davenport, Wash. First National Bank, Deep Eiver, Iowa- Date of appointment of receiver Nov. 17,1925 Mar. 25,1926 Date Dec. 28,1926 do Aug. 16,1927 Aug. 18,1927 Nov. 10,1926 .do. Mar. 30,1927 — -do First National Bank, Delano, Calif- Jan. 14,1927 First National Bank, Delano, Minn Dec. 12,1925 First National Bank, Dell Rapids, S. Dak. First National Bank in Deming, N. Mex. Sept. 26,1925 Broadway National Bank, Denver, Colo. Jan. 16,1926 Mar. 4,1924 Drovers National Bank, Denver, Colo Dec. 24,1925 Globe National Bank, Denver, Colo Oct. 1,1925 First National Bank, Desdemona, Tex. Apr. 7,1921 De Smet National Bank, De Smet, S. July 6,1926 Dak. First National Bank, Detroit Lakes, Nov. 23,1926 Minn. Merchants National Bank, Detroit June 22,1925 Lakes, Minn. First National Bank, Devol, Okla First National Bank, Dinuba, Calif Aug. 8,1927 July 27,1927 Aug. 29,1927 Dec. 7,1926 Dec. 21,1926 Apr. 20,1927 Apr. 22,1927 July 14,1927 Aug. 4,1927 Nov. 2,1926 June 1,1927 Nov. 10,1926 Dec. 9,1926 Mar. 2,1927 July 29,1927 Sept. 30,1927 Nov. 22,1926 Dec. 20,1926 Dec. 30,1926 Feb. 23,1927 Mar. 15,1927 Mar. 25,1927 May 28,1927 Aug. 11,1927 Nov. 4,1926 Dec. 6,1926 Dec. 9,1926 Dec. 27,1926 Feb. 1,1927 Mar. 2,1927 May 6,1927 June 18,1927 June 30,1927 July 7,1927 July 29,1927 Sept. 9,1927 Sept. 20,1927 Oct. 29,1927 Dec. 21,1926 Mar. 2,1927 Mar. 21,1927 Sept. 20,1927 May 9,1927 June 23,1927 July 22,1927 do Oct. 21,1927 Mar. 3,1927 Sept. 20,1927 Sept. 26,1927 do Sept. 17,1925 Dec. 31,1926 July 26,1927 Aug. 25,1927 July 9,1926 Nov. 17,1926 Jan. 7,1927 Apr. 8,1927 July 21,1927 Oct. 17,1927 Mar. 25,1927 July 26,1927 Aug. 29,1927 Jan. 21,1924 May 12,1927 Amount $60,494,49 i 728. 50 40,419. 64 i 359. 94 15,181.37 11,256. 89 15,439. 05 1 580.18 1.1.6 175,401. 30 114, 074. 50 1 4,408.13 41,253. 88 1 5,800. 00 l 4,924. 47 l 96. 75 1 16. 32 1 52.14 25,448. 67 U,557.77 195, 273 45 i 2, 203. 75 1 918. 79 195,635. 68 i 2,665. 68 1 1,079. 27 12,360.69 i 3,900. 36 i 1,228. 96 1 2,298. 76 i 607.43 i 753. 34 l 25,437.18 358, 619. 23 i 3,797. 55 17.71 1 3, 509. 92 1 1, 649. 94 i 6,076. 35 167,594. 76 1 194, 643.01 i 5, 748.03 l 2, 598. 61 1 990.00 l 944.42 2,154. 76 23, 420. 69 1 6, 401. 75 1 7, 006. 32 l 865. 98 58, 639.12 i 734.24 59,484.37 l 311.53 1 677.72 47,655.24 1119.75 1335.71 47,745.93 127.03 6,525.16 1 407. 56 3,466.02 15,000.00 28,000.00 10,000.00 5,000.00 7,000.00 114, 646. 80 1 2, 298.63 4,200.46 Per cent Total dividends paid to creditors (per cent) 15 "16" 50 20 "26"' 66 50 ~50~" "26" 60 "25" 7.2 '"16""" 10 70 10 10 1.75 10 10 45 11.75 10 "16" 10 10 "26"' 10 20 50 30 32.4 44.8 United States National Bank, Dinuba, 30 Calif. 30 First National Bank, Dodson, Mont "§.Y 3.6 1 Represents payments made during the year on additional claims on account of dividends previously declared. KEPORT OP THE COMPTROLLER OF THE CURRENCY 287 TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank Date of appointment of receiver Date Drovers National Bank, East St. Louis, May 22,1924 May 18,1927 111. First National Bank, Edgeley, N. Dak.. Jan. 31,1927 Aug. 11,1927 Oct. 29,1927 Aug. 6,1926 Mar. 10,1927 First National Bank, Eldorado, 111 Mar. 25,1927 June 17,1927 Sept. 9,1927 First National Bank, Elkton, S. Dak__. Dec. 3,1926 Aug. 29,1927 City National Bank, El Paso, Tex May 8,1924 Nov. 23.1926 Mar. 9,1927 First National Bank, Estherville, Iowa.. Feb. 27,1926 Feb. 19.1927 Mar. 23,1927 Apr. 15,1927 June 17,1927 First National Bank, Excelsior Springs, Jan. 24,1925 Jan. 19,1927 Mo. Farmers & Merchants National Bank, Mar. 15,1924 July 29,1927 Fairbury, Nebr. First National Bank, Fairfax, S. C Apr. 1,1927 Sept. 12,1927 National Security Bank, Fairfax. S. C__. Oct. 1,1926 Oct. 8,1927 First National Bank, Fairview, Mont... Nov. 8,1923 May 28,1927 May 22,1925 Sept. 27,1927 First National Bank, Florence, S. C First National Bank, Forest City, Iowa. Nov. 14,1925 Apr. 6,1927 Sept. 19,1927 do. Dec. 7.1926 Stockmens National Bank, Fort Benton, Feb. 23,1927 Mont. Mar. 7.1927 May 5, 1927 Aug. 8,1927 First National Bank, Fort Surnner, Feb. 26,1924 Feb. 19,1927 Oct. 11,1927 N. Mex. First National Bank, Frankfort, S. Dak_. Apr. 12,1926 Feb. 19,1927 Aug. 4,1927 National Bank of Franklin, Franklin, Oct. 18,1926 Aug. 25,1927 Feb. 26,1924 Tenn. Warren National Bank, Franklin, Ohio.. Mar. 11,1927 Aug. 26,1927 First National Bank, Fulton, Mo First National Bank, Gering, Nebr First National Bank of Gilmore, Gilmore City, Iowa. do __. Mar. 23,1927 May 6,1927 June 10,1927 July 20,1927 Sept. 26,1927 Feb. 26,1924 July 1,1927 Jan. 18,1926 Nov. 2,1926 do Oct. 21,1927 Apr. 24,1926 Glasgow National Bank, Glasgow, Mont. Dec. 29,1925 Dec. 28,1926 First National Bank, Glen wood, Minn.. July 14,1926 First National Bank, Granada, Minn... May 29,1926 Mar. 12,1927 Sept. 9,1927 Dec. 31,1926 Mar. 12,1927 Mar. 15,1927 May 20,1927 do. Aug. 23,1927 Nov. 10,1926 Dec. 31,1926 .....do Jan. 8,1927 Jan. 26,1927 Mar. 5,1927 do. Dec. 9,1922 Apr. 27,1927 do M a r . 31,1927 Oct. 21,1927 Commercial National Bank, Great Falls, Mont. American National Bank, Green City, Mo. First National Bank, Greensboro, Ga—. Jan. 9,1926 Mar. 25,1927 Mar. 28,1927 1 Amount Per cent i $11,923.91 60, 399. 56 i 282. 42 51.152. 38 i 17; 892. 87 1 14, 748. 92 1 24,149. 51 48, 794. 01 5565 333. 23 1.03 50,897.16 10 1 151. 94 1 1,026. 94 1 597. 30 l 1, 548. 07 i 632.80 9,548.87 20, 465. 63 1 2, 671. 22 61, 334. 64 1 2, 933. 69 53, 332. 53 1 115. 79 1 286. 97 1 49. 55 84.943. 20 20 1 916. 71 1 2, 822. 31 7, 429. 65 10 1 15. 07 13,140.44 136.41. 21,687.96 16 62, 337.12 100 1, 825. 58 2.9285 151, 372. 74 60 1 410. 38 I 1 193. 95 25, 326. 25 10 1 100. 50 l 1, 440. 97 19, 220. 33 10 1 106. 02 19, 296.16 10 1151. 66 31,822. 21 20 1 2,156. 70 1 1, 254. 59 34,396. 97 20 1 1, 656. 44 18,026. 71 18, 244. 30 1 652. 78 1 1, 343. 28 1 742. 73 10, 509. 05 20 * 2,431. 76 l 1,360. 90 I 1,633. 82 12,047. 36 20 1 81. 90 146,150. 22 10 1 2,455 4r 46,201.65 20 1 998. 85 19,122. 05 Total dividends paid to creditors (per cent) 70 25 30 20 10 50 50 19 50 10 15 19 60 "55" 5 10 102. 9285 70 10 30 "20" 40 60 25 20 20 Represents payments made during the year on additional claims on account of dividends previously declared. 288 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank Commercial National Bank, Greenville, Tex. Merchants National Bank, Grinnell, Iowa. First National Bank, Groom, Tex Texas County National Bank, Guymon, Okla. First National Bank, Hallock, Minn First First First First First National Bank, Hampton, Ga National Bank, Harlowton, Mont. National Bank, Harrington, Wash. National Bank, Haworth, Okla National Bank, Hay den, Colo First National Bank, Hemingford, Nebr. Farmers National Bank, Hempstead, Tex. First National Bank, Henryetta, Okla._ Miners National Bank, Henryetta, Okla. Date of appointment of receiver Amount Per cent Aug. 8,1927 Sept. 9,1927 Feb. 23,1927 * $2, i l l . 60 67,009. 64 i 844.09 10 Oct. 6,1924 Nov. 18,1926 do Nov. 13,1923- Nov. 9,1926 do Sept. 20,1927 Oct. 16,1925 Mar. 21,1927 Apr. 19,1927 Jan. 27,1925 Dec. 14,1926 Mar. 7,1923 July 8,1927 Aug. 6,1924 May 27,1927 Nov. 2,1926 July 29,1927 June 16,1926 Dec. 9,1926 Feb. 1,1927 do... Nov. 10,1923 Dec. 28,1926 do... Feb. 7,1925 Jan. 8,1927 May 12,1927 July 11,1927 July 31,1923 Feb. 28,1927 Mar. 2,1927 May 5,1927 Dec. 21,1923 Jan. 15,1927 May 14,1927 do Dec. 6,1926 May 28,1927 Aug. 8,1927 Jan. 15,1925 Mar. 25,1927 9, 868.44 i 2,448.17 27, 676. 08 i 107. 82 i 2,124. 59 1 6, 673. 74 39, 594. 96 8, 600. 92 i 243. 47 1 301. 11 840.13 22, 721. 91 11,444. 01 1 166.12 29, 876.17 1 279. 81 17, 555.16 1103. 27 17,571. 05 63,331. 68 1 229. 37 * 71. 49 i 73. 02 20, 372. 50 * 82. 97 93,787.17 *7,737. 54 23,813. 58 Dec. 7,1926 Mar. 3,1927 Mar. 25,1927 June 17,1927 Mar. 21,1927 June 17,1927 do Nov. 29,1926 Mar. 14,1927 Mar. 21,1927 Apr. 29,1927 Aug. 26,1927 do Sept. 9,1927 Jan. 15,1927 Sept. 21,1927 Dec. 9,1927 Mar. 25,1927 do Mar. 30,1927 Feb. 28,1927 Mar. 7,1927 Sept. 26,1927 Sept. 30,1927 Oct. 7,1927 Apr. 2,1927 do.. July 7,1927 »3,792.12 i 156. 23 33, 644. 69 1195. 38 1 2,015. 88 15,982. 25 1 77. 18 1 116. 62 » 19,056. 02 1 1, 282. 42 1462.43 75, 730. 84 1 119. 67 1 161. 27 i 802. 71 1 84. 47 1 44. 57 22,090. 32 1 91. 14 2, 938. 04 1 2, 617. 28 28, 663. 71 i 332. 48 1166. 24 i 5.51 5,799.10 1 496. 76 114,949, 62 Apr. 6,1925 Nov. 12,1924 Planters National Bank, Honey Grove, Tex. Peoples National Bank, Hot Springs, S. Dak. First National Bank, Howard, S. D a k . . . . Nov. 24,1925 City National Bank, Hugo, Okla.. June Hugo National Bank, Hugo, Okla. May 12,1925 5,1925 First National Bank, Huron, S. Dak Mar. 14,1924 First National Bank, Idabel, Okla Feb. First National Bank, Intake, Mont First National Bank, Jefferson, Iowa Apr. 7,1926 Dec. 23,1925 City National Bank, Jerome, Idaho 18,1925 May 24,1923 The National Bank of Jersey ville, Jersey- Jan. ville, 111. 15,1927 Date 50 12.10 15 Total dividends paid to creditors (per cent) 65 10 112.10 52.5 10 10 10 20 10 14.85 "16"""" 10 6.94 20 30 6.5 25 10 30 ~59."85 75 30.94 40 "IB" 31.2 40 55 10 30 "43"' 10 40 ...... 10 ~20" 30 20 10 30 10 ~35~ "B6"' 1 Aug. 8,1927 5,009. 32 35 First National Bank, Jonesboro, Ark June 4,1926 May 21,1927 71,451. 65 20 June 17,1927 119,124. 66 1 July 25,1927 2, 538. 89 20 First National Bank, Joplin, Mont Sept. 16,1921 Mar. 7,1927 770.20 1.75 11.75 Citizens National Bank, Julesburg, Colo. June 12,1924 Dec. 9,1926 16,406.23 10 Apr. 22,1927 16,406.23 10 35 First National Bank in Kiefer, Okla Mar. 13,1926 Dec. 28,1926 4,007.90 10 Mar. 12,1927 I 3, 595.12 July 1,1927 i 48,85 July 7,1927 11,384.97 15 25 »Represents payments made during the year on additional claims on account of dividends previously declared. EEPORT OF THE COMPTROLLER OF THE CURRENCY 289 TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank First NationaIBank, Kingsburg, Calif. _. Marion County National Bank, Knoxville, Iowa. Farmers and Merchants National Bank, Lake City, S. C. First National Bank, Lake Norden, S. Dak. First National Bank, Lake Park, Minn. Farmers National Bank, Lake Preston, S. Dak. First National Bank, Lake Preston, S. Dak. First National Bank, Lambert, Mont__. Farmers National Bank, La Moure, N. Dak. First National Bank, Lansford, N. Dak. First National Bank, Las Vegas, N. Mex. Lebanon National Bank, Lebanon, Tenn_ First National Bank, Leeds, N. Dak First National Bank, Lemmon, S. Dak.. Exchange National Bank, Leon, Iowa... First National Bank of Fergus County, Lewiston, Mont. Date of appointment of receiver Nov. 10,1926 Feb. 1,1927 $»7.107.19 151, 026. 51 i 3, 568. 52 i 952.17 i 319. 99 33,962. 47 i 15,912. 62 49, 875.10 i 1, 523. 70 30,972. 70 i 777. 06 21,167. 27 i 516. 48 29, 708.17 i 41. 91 29, 711. 56 i 11. 87 13, 754.45 Aug. 17,1927 13,769.60 M a r . 30,1927 Jan. 26,1927 Apr. 19,1927 Dec. 17,1923 Dec. 7,1926 Apr. 15,1927 M a y 2,1927 June 17,1927 M a y 4,1925 Aug. 19,1927 do. Feb. 13,1925 Feb. 1,1927 Dec. 1,1926 June 17,1927 Apr. 2,1925 Jan. 28,1927 May 9,1927 M a r . 9,1927 Aug. 25,1927 Sept. 19,1927 Apr. 12,1924 Dec. 7,1926 Mar. 28, j927 .._-od Sept. 21,1926 Sept. 19,1927 11,790. 63 50,981. 90 i 1, 228. 33 11, 575. 80 i 838. 66 i 47. 56 14, 338. 86 105, 508.11 i 435. 39 3, 000. 00 21, 767.13 i 83. 07 53, 776. 66 55, 880. 80 i 159. 30 1 9,129. 23 219, 278. 66 i 504. 90 36, 773. 73 Oct. 8,1927 Aug. 4,1927 Mar. 10,1927 41, 726.10 8,481. 67 14, 471. 33 Mar. 28,1924 July 16,1924 Feb. 25,1926 First National Bank, Lumberton, N. C_ Aug. 4,1925 First National Bank, Lusk, Wyo Feb. 7,1924 First National Bank, Madison, S. Dak.. M a y 21,1925 First National Bank, Magdalena, N. Mex. Jan. First National Bank, Malta, Mont First National Bank, Malvern, Iowa Dec. 28,1925 Dec. 10,1926 Farmers National Bank, Manor, Tex 1 Amount M a y 12,1927 Apr. 6,1927 Apr. 19,1927 June 20,1927 Oct. 21,1927 Oct. 18,1926 M a r . 10,1927 M a y 12,1927 June 9,1927 Oct. 21,1927 M a y 12.1927 Oct. 5,1926 Aug. 18,1927 Aug. 19,1927 Aug. 24,1925 Nov. 10,1926 Dec. 31,1926 .....do Sept. 30,1927 do Dec. 17,1925 Aug. 16,1927 Farmers National Bank in Lidgerwood, N. Dak. Apr. 9,1927 First National Bank, Lineville, Iowa M a r . 19,1924 First National Bank, Lingle, Wyo Northwestern National Bank, Livings- Aug. 30,1924 ton, Mont. Loveland National Bank, Loveland, Oct. 22,1925 Colo. First National Bank, Lovington, N. Oct. 8,1923 Mex. Manilla National Bank, Manilla, Iowa__ Date 18,1923 Oct. 20,1925 Nov. 26,1926 Nov. 22,1926 do July 18,1927 do Aug. 8,1927 Aug. 11,1927 Apr. 23,1927 do Feb. 28,1927 do .. Mar. 12,1927 June 27,1927 Oct. 29.1927 Nov. 18.1926 Jan. 15,1927 July 11,1927 Aug. 15,1927 M a y 14,1927 July 25,1927 Nov. 5,1926 do J u n e 7,1927 J u n e 17,1927 S e p t . 11,1927 Per cent 30 33.33 Total dividends paid to creditors (per cent) 30 33. 333 10 10 20 15 10 25 10 10 35 10 20 20 30 20 30 10 12.2 15 62.2 .0375 20 60 81.25 20 10 20 55 20 10 i 2 1, 625. 34 13 39. 56 21, 099. 59 9.25 i 26. 56 i 125. 84 i 73. 65 54, 718. 25 15 i 1, 044. 47 12, 347. 62 21 i 11. 28 43, 776. 46 i 1, 434. 63 i 68.10 1 1,154.11 i 27. 71 3.9 11, 724. 77 3.5 7, 250. 37 56, 695. 32 30 t 3, 832. 88 26, 222.18 i 112. 59 36, 302. 99 i 665. 75 i 611. 60 40 15 20 10 '100 19.25 55 ~66~ 8.9 3.5 30 ~40~ 50 Represents payments made during the year on additional claims on account of dividends previously declared. 2 To nonassenting creditors in accordance with agreement. 3 To assenting creditors in accordance with agreement. 290 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November i, 1927—Contd. Dividends paid during the year Name and location of bank First National Bank, Mansfield, Tex First National Bank, Manville, Wyo First National Bank, Marcus, Iowa First National Bank, Marengo, Iowa First National Bank, Marysville, Kans._ Date of appointment of receiver Date May 25,1927 Dec. 11,1923 Sept. 30,1927 Feb. 28,1927 do Sept. 28,1927 June 23,1927 Sept. 16,1927 Nov. 13,1926 Mar. 25,1926 Apr. 6,1927 Nov. 24,1926 Mar. 2,1927 Nov. 2,1926 Jan. 19,1927 Feb. 23,1927 May 3,1927 July 1,1927 July 13,1927 Sept. 26,1927 May 18,1927 $29,061.32 5, 298. 87 l 1,163.80 17,033. 35 175, 500. 43 i 3,181. 84 i 847. 40 16.48 53, 620. 41 1 3, 204. 41 79,537. 87 48, 937. 53 i 2, 643. 28 11,120. 28 1 127. 93 49, 536.18 1 29. 48 l 340.09 242, 707.28 July 29,1927 Mar. 16,1927 June 23,1927 Feb. 15,1924 Nov. 10,1926 do— Mar. 2,1927 Aug. 22,1927 do... Aug. 6,1924 Aug. 9,1927 do Feb. 27,1924 Dec. 30,1926 1908.74 22,500.17 i 5, 794. 44 149,592. 83 130.06 1 4,626.15 151,177. 72 1128. 52 19,483.90 1167. 89 125.56 Jan. 8,1927 do Jan. 23,1927 Dec. 20,1923 Dec. 1,1926 Dec. 31,1926 Mar. 2,1927 Nov. 13,1924 Mar. 25,1927 May 26,1927 Jan. 14,1927 July 8,1927 Nov. 2,1922 Aug. 5,1927 Oct. 11,1927 Nov. 7,1925 Dec. 16,1926 do Feb. 23,1927 Aug. 29,1927 June 1,1923 Apr. 27,1927 July 22,1927 Sept. 9,1927 Jan. 21,1925 Dec. 30,1926 Mar. 12,1927 do Jan. 10,1927 June 27,1927 Sept. 26,1927 June 12,1927 Nov. 18,1926 May 20,1927 Dec. 9,1926 Oct. 26,1927 27, 426. 76 10 1 509. 95 11, 819. 94 i 59. 50 20,967. 27 15 i 111. 20 1 22. 53 2,305. 73 5 77,175. 84 50 25,197. 87 10 i 65. 45 273,061. 47 20 i 736. 62 12.770.33 1 546.57 34,395. 53 11 1 4,804.56 1180. 80 11,072. 51 11,557.99 10 115. 44 59,461. 72 " 2 5 1 2,459.91 46, 504. 73 10 i 555. 00 8,000. 00 14.57 May 18,1921 Feb. 18,1927 Apr. 15,1924 Security National Bank, Mason City, Dec. 29,1925 Iowa. First National Bank, Matoaka, W. Va._. Mar. 3,1925 Farmers and Merchants National Bank, Merced, Calif. First National Bank, Milbank, S. Dak... Commercial National Bank, Miles City, Mont. First National Bank, Minnesota Lake, Minn. Western National Bank, Mitchell, S. Dak. First National Bank, Montpelier, Idaho.. First National Bank, Moore, Mont First National Bank, Morgan, Tex First National Bank, Moulton, IowaFirst National Bank, Mountainair, N. Mex. Muskogee Security National Bank, Muskogee, Okla. First National Bank, Nampa, Idaho Neoga National Bank, Neoga, 111.. First National Bank, Nevada, Iowa First National Bank, Newcastle, Wyo Sept. 23,1926 Nov. 15,1926 Mar. 13,1925 First National Bank, New Hampton, Iowa. Farmers National Bank, Newport, Ark. _ Dec 21,1926 May 2,1927 June 17,1927 July 25,1927 do Oct. 26,1927 First National Bank, Noblesville, Ind__. June 3,1926 Mar. 3,1927 Apr. 19,1927 June 10,1927 Aug. 8,1927 do Mar. 23,1927 Aug. 17,1927 First National Bank, Norway, Iowa Nowata National Bank, Nowata, Okla.. Feb. 19,1924 Dec. 13,1926 Amount 50,441.38 1 3,183. 95 43,055. 64 i 219. 73 l 855. 00 115,973. 74 l 2, 798. 99 1 196. 46 38, 325. 44 i 8,889. 53 46, 763. 24 1 2,974. 61 Per cent Total dividends paid to creditors (per cent) 50 11.7 25 59 41. 655 25 10 60 10 10 60 10 75 25 25 10 10 10 10 40 6 86 25 45 35 55 50 10 70 11 50 25 35 14.57 25 20 45 60 15 30 65 30 35 i Eepresents payments made during the year on additional claims on account of dividends previously declared. 291 REPOKT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927-—Contd. Dividends paid during the year Name and location of bank The National Bank of Oakesdale, Oakesdale, Wash. First National Bank, Oldham, S. D a k - Date of appointment of receiver Date Aug. 4,1927 Amount Per $11, 209.48 15 Mar. 14,1927 do Feb. 12,1924 July 25,1927 Feb. 8,1926 Dec. 14,1926 First National Bank, Onida, S. Dak May 2,1927 First National Bank, Oroville, Wash___. June 3,1927 July 22,1927 do. Sept. 26,1927 Osceola National Bank, Osceola, Iowa... Apr. 22,1925 Dec. 7,1926 Aug. 4,1927 Aug. 11,1927 First National Bank, Oswego, Mont Oct. 5,1923 Jan. 28,1927 Mar. 2,1927 do. National Farmers Bank, Owatonna, Sept. 10,1926 Mar. 18,1927 Minn. June 17,1927 July 11,1927 Sept. 14,1927 First National Bank, Pagosa Springs, Mar. 6,1926 Dec. 14,1926 23,958. 72 1 34. 56 1 20.40 14,032. 87 i 281.91 15.46 14, 320. 24 i 13.16 i 13.16 1 876. 22 13,354. 67 i 123.15 i 810. 87 9,250. 25 i 1,081. 15 241, 579. 14 i 6, 624. 33 124,101. 73 i 1,066. 22 10,842. 37 10 Feb. 1,1927 Mar. 3,1927 Mar. 21,1927 do.. Apr. 22,1924 Jan. 30,1926 May 6.1927 Aug. 8,1927 do. Dec. 7,1926 Dec. 21,1926 do. May 18.1927 May 26,1927 Max. 2,1927 Apr. 25,1927 M a y 26,1927 June 3,1927 June 17.1927 Jan. 8,1927 Mar. 14,1927 doMay 12,1927 May 28,1927 Aug. 8,1927 Jan. 21,1927 Mar. 3,1927 do. M a y 18,1927 do Jan. 19,1927 Apr. 9,1927 71,935. 39 i 878. 89 36,430.25 i 46.16 i 274. 94 36, 566.12 1158. 74 i 225. 98 30,449. 45 i 239. 51 i 355. 47 1.10 57,1 257. 26 305. 40 17.25 1.94 23,028. 79 1 4, 518. 97 92, 210. 77 1.90 1 43. 42 16, 431. 90 1 1, 868. 81 i 78. 84 72, 365. 28 17.19 73, 066. 04 i 887. 08 i 1, 207. 85 41,347.98 June 11,1921 Oct. 18,1927 50,145.08 Dec. 21,1926 Jan. 3,1925 Colo. Guthrie County National Bank, Panora, July 22,1926 Iowa. First National Bank, Pasco, Wash.. Nov. 21,1925 First National Bank, Pensacola, Fla_. First National Bank, Pepin, Wis Jan. 22,1914 July 23,1926 Perry National Bank, Perry, Iowa Feb. 5,1925 Citizens National Bank, Petty, Tex Nov. 24,1926 National Bank of Commerce, Pierre, S. Feb. 11,1925 Dak. First National Bank, Pilger, Nebr_ First National Bank in Pocahontas, Iowa. Bannock National Bank, Pocatello, Idaho. First National Bank, Poison, Mont First National Bank, Poteau, Okla First National Bank, Putnam, Conn Total dividends paid to creditors (per cent) 15 50 10 ~20" ~20~' 40 10 "16" 20 ~20~' 30 20 20 20 10 40 16 60 78.35 25 10 35 15 25 16"' 10 16" I "16"" 10 40 16. 667 10 12.5 Mar. 22; 1924 Mar. 25,1927 11,401.44 10 10 June 19,1924 Mar. 30,1927 19, 291. 03 8.6 18.6 Aug. 13,1924 Dec. 9,1926 90, 356.09 5 May 27,1927 i 859. 66 Aug. 29,1927 i 3,000. 70 75 Feb. 11,1925 Dec. 7,1926 i 113.13 First National Bank, Quincy, Fla Jan. 8,1927 1 8. 333. 33 50 First National Bank, Red Wood Falls, July 29,1925 May 26,1927 37. 436. 60 16 60 Minn. i 170. 84 do First National Bank, Renwick, Iowa Jan. 13,1927 Oct. 29,1927 9, 446. 99 10 10 First National Bank, Rexburg, Idaho._. Aug. 11,1924 Dec. 30.1926 i 109. 70 7.5 Dec. 24,1925 Dec. 7,1926 First National Bank, Rifle, Colo 27, 371. 14 60 16 Jan. 12,1925 Dec. 9,1926 First National Bank, Rigby, Idaho i 392. 20 M a y 27.1927 i 1,076.07 10 First National Bank, Riverbank, Calif.. Dec. 28,1925 Jan. 15,1927 i 1,060. 37 Apr. 19.1927 7, 346.53 10 40 i Represents payments made during the year on additional claims on account of dividends previously declared. 292 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank Date of appointment of receiver Date First National Bank, Rocky Ford, Colo. Apr. 5,1924 Sept. 9,1927 Citizens' National Bank, Roswell, N. Nov. 16,1923 Dec. 31,1926 Mar. 2,1927 Mex. Citizens' National Bank, Royal, Iowa... Jan. 5,1927 First National Bank, Royalton, Minn... July 22,1926 First National Bank, Rupert, Idaho First National Bank, Rush City, Minn. First National Bank, Sac City, Iowa Feb. 7,1923 First National Bank, Saco, Mont June 4,1926 First National Bank, St. Anthony, Idaho. Mar. Feb. 21 1927 Dec. 2,1925 4,1924 First National Bank, St. Cloud, Minn.. June 24,1925 First National Bank, St. James, Minn._ Nov. 30,1926 First National Bank, St. John, Wash... Feb. 7,1924 Jan. 16,1925 First National Bank, Salem, S. Dak Peoples' National Bank, Salisbury, N. C July 3,1923 July 30,1923 First National Bank, Sapulpa, Okla First National Bank, Schulter, Okla Dec. 21,1923 First National Bank, Selma, N. C National Bank of Commerce, Shawnee, Okla. May 16,1925 Apr. 28,1924 Mar. 29,1927 First National Bank, Sheldon, Iowa Feb. 13,1925 First National Bank, Shelley, Idaho First National Bank, Shenandoah, Iowa- May 13,1926 First National Bank, Sidney, Mont Feb. 26,1924 June 10,1927 May 28,1927 July 14,1927 Aug. 22,1927 Oct. 11,1927 Oct. 21,1927 May 3,1927 June 23,1927 Aug. 29,1927 Sept. 26,1S27 Mar. 30,1927 do Aug. 2,1927 Dec. 7,1926 May 5,1927 May 26,1927 July 11,1927 Feb. 19,1927 May 20,1927 Dec. 30,1926 May 27,1927 June 30,1927 Nov. 24,1926 Mar. 28,1927 Apr. 25,1927 Aug. 29,1927 Mar. 30,1927 May 20,1927 do... Aug. 29,1927 do Dec. 28,1926 Mar. 3,1927 do May 13,1927 Nov. 8,1926 May 6,1927 Mar. 13,1927 July 12,1927 do. Mar. 2,1927 .—do Mar. 7,1927 do. June 22,1927 Sept. 14,1927 July 1,1927 do. Mar. 21,1927 May 26,1927 Aug. 25,1927 Oct. 21,1927 June 7,1927 July 25,1927 Jan. 11,1927 Sioux Falls National Bank, Sioux Falls, Feb. 24,1924 S. Dak. Citizens National Bank, Spencer, Iowa.. Nov. 19,1926 June 3,1927 First National Bank, Spencer, Nebr June 25,1927 Spirit Lake National Bank, Spirit Lake, Mar. 23,1926 Iowa. First National Bank, Springer, N. Mex.. June 15,1925 July 18,1927 Sept. 26,1927 Nov. 4,1926 Apr. 15,1927 Dec. 28,1926 Sept. 21,1927 Oct. 15,1927 Aug. 15,1927 do. Sept. 16,1927 Mar. 9,1927 Amount i$67.80 46,939. 35 1 5, 824. 98 1 23. 82 27,057. 29 1 869. 39 1 86. 57 i 2,349.89 30,345. 41 27, 218.16 i 2, 207. 02 i 278. 73 1 1,165.15 11,371. 75 18.62 94, 379. 69 1 1 1 , 204. 95 i 55. 60 74, 813. 44 i 337. 95 20,863. 49 i 470. 45 i 198.25 i 110. 30 i 55.14 1 810. 95 i 2,037. 31 i 85. 37 1100. 74 120,856. 59 84,644. 62 i 6,110. 33 64,047. 30 11,879. 73 14,816.07 15,306.67 1109. 94 1 5,962. 24 136.06 1 260. 21 1 28.16 9, 384. 00 1 30.18 9,056. 98 i 213. 36 35,637. 04 1 3,457. 32 1.50 129,887.91 12,265. 75 l 51.18 61,143. 75 1400.92 59, 718. 45 1 1,555.17 1 314. 80 23, 793. 79 i 642.14 37,136. 76 i 943. 90 U21.53 42,492. 36 i 139. 37 52,267. 67 1 428. 22 52,695. 89 29,035. 51 1 549. 99 14,685. 94 45, 270. 78 1 1,808. 68 Per cent Total dividends paid to creditors (per cent) 15 20 20 10 40 10 30 10.6 30 15 40 ~40~" 15 20 20 10 15 15 10 65 85 25 50 20 21 ...... 20 15.5 10 "16" 31 40 20 79 20 16 32 10 10 5 "16" 10 25 20 ~50~" 9.08 First National Bank, Springfield, S. Dak. Nov. 28,1923 10 Logan County National Bank, Sterling, Jan. 26,1925 do Colo. 50 i Represents payments made during the year on additional claims on account of dividends previously declared. REPOKT OF THE COMPTROLLER OF THE CURRENCY 293 TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank First National Bank, Stevensville, Mont. American National Bank, Stigler, Okla_. Story City National Bank, Story City, Iowa. Date of appointment of receiver Dec. 13,1926 .....do July 29,1927 Oct. 21,1927 Jan. 3,1927 May 26,1927 June 30,1927 Sept. 16,1927 Oct. 26,1927 do. Mar. 2,1925 Mar. 1,1927 First National Bank, Sylvester, Ga First National Bank, Tama, Iowa Jan. 15,1925 Jan. 18,1926 First National Bank, Terril, Iowa. Nov. 23,1926 American National Bank, Three Forks, Mont. First National Bank, Toledo, Iowa Oct. 29,1923 First National Bank, Tolley, N. Dak First National Bank, Torrington, Wyo._. Torrington National Bank, Torrington, Wyo. FirstNational Bank, Towner, N. Dak_ _. First National Bank, Townsend, Mont_. First National Bank, Uniontown, Pa First National Bank, University Place, Nebr, United State National Bank, Vale, Oreg. First National Bank, Veblen, S. Dak Provident National Bank, Waco, Tex First National Bank, Wapanucka, Okla. Warren National Bank, Warren, MinnFirst National Bank, Waubay, S. Dak.. First National Bank, Waukon, Iowa First National Bank, Wausa, Nebr Citizens National Bank, Wayne, Nebr_ Date Mar. Mar. Apr. June May June Aug. Oct. June 3,1927 2,1927 19,1927 3,1927 3,1927 17,1927 18,1927 29,1927 10,1927 M a y 11,1927 J u l y 7,1927 Sept. 30,1927 Nov. 21,1923 Nov. 2,1926 Mar. 2,1927 Mar. 23,1927 do__ Dec. 16,1924 June 10,1927 July 14,1927 do Mar. 19,1924 Aug. 4,1927 Sept. 19,1927 Dec. 28,1920 M a r . 9,1927 Jan. 8,1925 Feb. 18,1927 do Jan. 19,1915 July 25,1927 Dec. 29,1926 June 17,1927 June 27,1927 July 13,1927 July 14,1927 Sept. 9,1927 Sept. 21,1927 Sept. 30,1927 Oct. 11,1927 Nov. 15,1921 Oct. 8,1927 do Mar. 23,1927 Sept. 18,1926 June 17,1927 Oct. 21,1927 June 9,1927 Mar. 26,1927 June 30,1927 Sept. 8,1927 Dec. 28,1926 Mar. 2,1925 June 30,1927 Mar. 23,1927 Dec. 5,1925 Apr. 19,1927 Mar. 7,1927 Aug. 20,1926 June 10,1927 Dec. 16,1926 Jan. 18,1926 Jan. 19,1927 M a y 20,1927 .do July 25,1927 July 9,1925 Dec. 7,1926 Apr. 22,1927 June 2,1926 Nov. 5,1926 Jan. 19,1927 Mar. 12,1927 do June 23,1924 July 7,1927 Feb. 26,1924 Jan. 26,1927 Nov. 3,1926 Amount Per cent $19,054.97 i 252.45 15,472. 60 1 2,171. 61 31, 719. 38 20 i 3, 291. 91 i 400. 82 36,416.01 ~20~' i 1,003. 84 1 67. 92 1 487. 34 86,088. 28 1 74. 76 103, 224. 30 1 882. 69 l 1,001. 52 1 76.03 7,354. 32 145,852. 57 l 2,666. 96 1 672.13 1 449. 97 1 170. 04 9, 887. 45 1 71.96 1 188. 50 57, 315. 27 11.27 17,685.13 1 1.00 20,414.19 7,215. 28 1 313.16 1 23. 22 46,403. 03 1 24. 68 1 186. 22 1 55. 69 1 284. 92 1 14. 48 1 43. 07 19.52 17,155. 97 1 163. 17 23, 711. 09 1 848. 09 1 261. 03 141,000. 00 35,000. 00 70,000. 00 8,863.18 1 473. 89 27, 532. 23 1 2, 281. 32 12, 578.18 1 253. 31 70, 791. 37 1 64. 64 70,919. 35 1 63. 34 l 1,945. 08 1 1, 702. 03 1 353. 93 229, 870.10 1 654. 00 92, 228. 61 1 49. 26 1 2,126. 85 1 474. 67 Total dividends paid to creditors (per cent) 63 40 10 35 40 10 40 7.3 17.3 25 "35" 35 24.9 10 50 116.12 "40" 40 2.25 ....... •~~7.~25" 81. 526 81. 526 5 10 16" 20 50 "20" 70 10 Weiser National Bank Weiser, Idaho._. 35 Wells National Bank, Wells, Minn 1 Represents payments made during the year on additional claims on account of dividends previously declared. 294- REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE NO. 42.—Dividends paid to creditors of insolvent national banks during the last year, with the total dividends in each case up to November 1, 1927—Contd. Dividends paid during the year Name and location of bank The National Bank of Wessington Springs, S. Dak. Date of appointment of receiver Feb. 23,1926 Palm Beach National Bank, West Palm, July 2,1926 Beach, Fla. First National Bank, Wilder, Idaho Nov. 22,1926 First National Bank, Willow City, N. July 12,1923 Dak. Commercial National Bank, Wilming- Jan. 31,1923 ton, N. C. Pirst National Bank, Wimbledon, N. Dak. First National Bank, Winifred, Mont_._ First National Bank, Winner, S. Dak.__ Winner National Bank, Winner, S. DakFirst National Bank, Woonsocket, S. Dak. Apr. 23,1925 Oct. 15,1925 Jan. 31,1923 Oct. 24,1925 July 23,1926 Date Total i $121.07 12,973. 68 1 851.36 6,699. 23 11,050.64 i 514.09 28,051.21 88,791. 71 116,286.16 i 8,113. 42 40,010.28 l 1,704. 78 1 93. 72 11,268.20 82,869. 30 l 818. 63 l 912. 92 1 34. 59 15,841.43 i 83. 96 5,573. 82 14,506. 40 9,659. 64 1 673. 89 6,501. 08 1184. 66 15,574.92 1 5,417. 58 1 789. 83 184.36 Total Total dividend paid by comptroller's checks and purchasing banks .20 10 40 25 30 50 5 5 10 10 8 15 90 55 50 10 15 45 10 8 10 10 40 10 17,464,249. 07 Amount Dividends paid by purchasing banks to creditors of insolvent national banks, assets of which were sold by order of court: . . First National Bank, Dell Rapids, S Dak Marion County National Bank, Kno xville, Iowa Georgia National Bank, Athens, Ga. Central National Bank, Marietta, 01iio__State National Bank, Austin, Tex Provident National Bank, Waco, Te s Per cent Amount Nov. 5,1926 Nov. 18,1926 Jan. 8,1927 Mar. 2,1927 May 20,1927 Sept. 9,1927 Sept. 30,1927 Nov. 18,1926 Mar. 7,1927 do May 3,1927 Sept. 30,1927 Mar. 16,1927 Aug. 9,1927 Dec. 21,1926 Feb. 1,1927 Mar. 12,1927 Aug. 29,1927 June 23,1927 do Jan. 8,1927 Mar. 10,1927 Mar. 25,1927 do Oct. 29,1927 do Mar. 9,1927 Mar. 23,1927 May 6,1927 Sept. 26,1927 Total dividends paid to creditors (per cent) $197,735. 67 206,885.41 997,381.89 1,817,602.41 705,002.29 246,000.00 Per cent Total dividends paid to creditors (per cent) 65.5 41.67 90 100 100 100 90.5 75 100 100 100 100 4,170,607.67 21,634,856.74 i Represents payments made during the year on additional claims on account of dividends previously declared. 295 BEPORT OF THE COMPTROLLER OF THE CURRENCY TABLE 43.—Dates of reports of condition of national banks from 1914 to 1927 (For dates of previous calls see report for 1920, vol. 2, Table No. 42, p. 150) Year 1914 1915 1916__ 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 Jan. Feb. Mar. Apr. May June July Aug. Sept. 4 4 7 5 4 4 13 _. 28 21 28 5 10 3 31 6 12 | 12 2 12 11 30 1 1 1 10 12 4 23 23 30 20 29 30 30 30 30 30 30 30 30 30 Oct. Nov. 31 31 10 17 20 1 17 15 31 12 8 6 15 14 Dec. 31 27 31 31 31 29 31 29 31 10 28 10 31 31 31 31 NOTES Act of February 25, 1863, provided for reports of condition on the first of each quarter, before commencement of business. Act of June 3, 1864—First Monday of January, April, July, and October, before commencement of business, on form prescribed by comptroller (in addition to reports on first Tuesday of each month showing condition at commencement of business in respect to certain items; i.e., loans, specie, deposits, and circulation) . Act of March 3, 1869, not less than five reports per year, on form prescribed by comptroller, at close of business on any past date by him specified. Act of December 28, 1922, minimum number of calls reduced from five to three per year. Act of February 25, 1927, authorized a vice president or an assistant cashier designated by the board of directors to verify reports of condition in absence of president and cashier. 71284°—28- -20 TABLE N O . 44.—Condition of foreign branches of National City Bank and Chase National Bank, New York, N. Y,, and First National Boston, Mass,, on June 30, 1927 Bank, RESOURCES [In thousands of dollars] Loans and discounts, Country and city including overdrafts and rediscounts Letters of credit and acceptances Bonds Furniture and fixtures Due from Due from and home office branches real estate owned Due from other banks Checks and cash items 591 107 1 5 4 Cash Other assets Aggregate I NATIONAL CITY BANK OF NEW YORK, N. Y. Cuba: Caibarien. Camaguey Cardenas . Ciego de Avila Cienfuegos.. Florida. Guantanamo Havana Havana (Belascoan) Havana (Cuatro Caminos) _ Havana (Galiano Street) Havana (La Lonja) Manzanillo Matanzas Moron Nuevitas.. _ Palma Seriana Pinar del Rio Remedios Sagua la Grande Sancti Spiritus Santa Clara Santiago de Cuba Vertientes Yaguajay China: Canton Dairen Hankow __ __ __ Harbin Hong Kong (British Colony) Peking 2,608 548 3,260 128 410 2,164 759 33,678 166 578 221 469 1,413 4,114 97 53 165 364 62 707 600 125 1,630 125 850 282 687 190 6,845 4 712 65 i 181 7 499 1,864 92 25 770 366 874 8,030 1 8 150 12 227 915 2,867 2,055 85 223 105 210 340 40 4 7 86 739 1,541 17 148 79 1,655 145 1,371 3,775 7,612 3,581 398 55 13 1 1 1,271 234 1 14 1 2 5 5 3 1 1 1 1 2 6 5 15 28 273 13 1,633 1,804 91 2 35 1 2 14 72 254 307 119 118 334 56 126 2,160 32 48 135 97 104 130 41 39 64 86 58 125 115 71 370 43 59 168 1 444 616 337 532 10 5 2 7 288 1 9 1 1 2 6 4 1 11 4 11 2 2 19 27 3,160 1,451 3,396 747 2,721 2,221 910 47,683 426 1,556 3,232 2,774 1,522 4,261 225 356 335 669 461 847 811 941 3,750 189 920 2.212 964 2,167 12,902 14,962 4,324 I 2 Shanghai Tientsin Dominican Republic: Barahona La Vega Puerto Plata San Pedro de Macoris Santiago de los Caballeros Santo Domingo City Japan: Kobe. _ Osaka Tokyo Yokohama Brazil: Recife Rio de Janeiro Sao Paulo India: Bombay _ Calcutta Rangoon (Burma) Argentina: Buenos Aires Rosario Belgium: Antwerp Brussels Chile: Santiago __ __ Valparaiso Italy: Genoa Milan Porto Rico: San Juan Caguas__ _ _ Republic of Panama: Colon Panama England: London Java: Batavia Peru* Lima Straits Settlements: Singapore Uruguay Montevideo Venezuela: Caracas Total 8,702 2,685 __ 45 27 71 248 63 3,098 1,604 8,897 3,930 1,640 1,562 9,981 8,198 15 321 77 1,792 2,397 3,360 872 216 352 50 5 2,463 1,151 1,023 45 97 83 79 284 79 43 2 4 17 212 1 3 2 42 45 118 62 126 111 587 39 135 285 219 477 477 6,942 785 390 791 444 1,642 691 1,540 198 1 1 11 11 11 4 30 13 2 6,120 11,676 6,457 2,309 167 189 528 264 242 1,459 1,699 44 5 761 336 930 643 6 583 26 2 383 17,788 12,334 705 1,605 127 250 59 44 1 54 30 50 191 32 12 4 2,212 15 1,655 36 171 8 1,471 14 7 8 158 4 177 29 378 6,491 3,234 1,832 3,772 365 2,069 10 4 334 1,870 194 14 51 30 2 16,970 7,569 23,218 5,449 319 430 2,047 21 2,702 602 3,009 107 115 1 354 174 51 18 32,245 6,372 4,043 2,899 1,566 1,543 44 42 1 62 919 99 196 13 7 4 4 2 9 5 833 5,620 9,978 4,929 15 108 160 196 452 69 765 507 3 6 67 59 14 16 11,454 5,890 5,272 3,369 1,012 3,105 44 46 337 48 2,608 3,647 10 5 66 5 14 70 9,716 10,295 3,727 806 83 1,520 907 359 1,035 65 1 246 12 41 7 706 1,178 1,257 1,454 1,825 6,995 401 6 112 75 5 222 413 2,029 28 251 920 931 437 27 33 28 1 2 3 7 183 61 821 69 27 152 466 197 695 1 10 123 1 10 4 69 37 1,950 8,622 84,323 1,583 4,838 8,059 5,793 5,962 45, 749 58,427 31,149 1,818 17, 545 1, 737 449,474 185 1,334 35,893 618 3,485 5,538 4,407 3,320 248,853 8 16,815 2,600 23 47 353 82 194 4,178 19, 771 313 862 1,016 107 28 29,628 12,031 2,537 o 3 to TABLE N O . 44.—Condition of foreign branches of National City Bank and Chase National Bank, New York, N. Y., and First National Boston, Mass., on June 80, 1927—Continued KESOURCES—Continued Bank, 00 [In thousands of dollars] Loans and Letters discounts, including of credit and overdrafts and re- acceptances discounts Country and city Bonds Furniture and fixtures and real estate owned Checks and cash items Due from branches Due from other banks 1,756 600 105 251 169 6 29 67 241 358 301 250 3,036 6,877 4,853 4,153 600' 525 102 900 251 14, 766 D u e from home office Cash Other assets Aggregate CHASE NATIONAL BANK OF NEW YORK, N. Y. Canal Zone: Cristobal Cuba: Havana Republic of Panama: Panama _. Total 281 5,878 1,676 5 20 34 341 7,835 59 341 42,840 4,901 732 436 7,748 128 74 15,407 362 334 39 499 505 304 13 67,992 6,330 47, 741 1,168 7,748 202 15, 769 373 1,004 317 74,322 2,397 1 FIRST NATIONAL BANK OF BOSTON, MASS. Argentina: Buenos Aires Cuba: Havana Total . . . fcO CO LIABILITIES Country and city Capital Profits, including amount reserved for taxes and interest accrued Due to home office Due to branches Due to other banks Individual deposits Rediscounts Acceptances of other banks and foreign bills of exchange or drafts sold with i ndorsement of this bank Letters of Acceptcredit and exeacceptances ances cuted by executed other by reportbanks ing bank Other liabilities O NATIONAL CITY BANK OF NEW YORK, N. Y. Cuba: Caibarien Camaguey Cardenas Ciegode Avila Cienfuegos Florida -... Guantanamo _-. Havana Havana (Belascoan) Havana (Cuatro Caminos).. Havana (Galianq Street) Havana (La Lonja) Manzanillo Matanzas Moron Neuvitas Palma Sariano Pinardel Rio Remedios Saguala Grande Sancti Spiritus Santa Clara Santiago de Cuba Vertientes Yaguajay China: Canton Dairen Hankow Harbin Hong Kong (British colony). 223 2 1 2 3 1,000 1,392 "2,"809" 1,557 207 993 2 106 1 2 3 1 8 556 3,024 1,032 796 19 20 18 280 1,259 652 494 311 L, 591 33 92 24 24 164 100 36 2,387 23 82 19 79 52 81 27 54 41 30 8 81 187 35 33 6 6 1,330 1,342 553 716 2,456 562 640 23,574 396 1,466 3,196 2, 528 909 1,141 198 260 293 633 449 26 1 291 1,661 2,053 2,167 468 1,545 5,372 11,888 639 620 895 2,496 182 118 18, 519 181 10 8 5 96 2 25 1,038 4 1 12 162 4 5 O o 27 37 2 5 2 3 o E 42 10 177 o CO CO TABLE NO. 44.—Condition of foreign branches of National City Bank and Chase National Bank, New York, N, Y., and First National Bank, Boston, Mass., on June 30, 1927—Continued LIABILITIES—Continued [In thousands of dollars] Country and city China—Continued. Peking Shanghai Tientsin Dominican Republic: B arahona La Vega Puerto Plata Han Pedro de IVIacoris Santiago de los Caballeros Santa Domingo City Japan: Kobe Osaka Tokyo Yokohama Brazil: Recife Rio de Janeiro Sao Paulo _____ India: Bombay Calcutta Rangoon (Burma) __ __ Argentina: Buenos Aires Rosario Belgium: Antwerp Brussels Capital Profits, including amount reserved for taxes and interest accrued Due to home office Due to branches 63 5, 433 2 39 222 57 1,001 250 476 1,280 1, 265 Individual deposits 31 129 273 213 367 444 2,874 3 33 2 56 602 52 59 20 18 2 053 3,480 2,338 1,821 5,201 2,196 245 570 171 74 56 1,616 1,280 1,815 1,974 12 25 146 158 2,289 378 371 1,335 1,229 97 1,453 1,958 1,376 7,952 5,475 54 40 8 521 97 1,305 4,642 644 53 158 232 38 4,000 3,833 807 1,333 229 3,452 1,513 14,053 4,312 1,479 244 20 159 2,587 11 6 671 189 Letters of Acceptcredit and exeacceptances ances cuted by executed other by reportbanks ing bank 3, 746 i 9, 998 G, 245 2 3 2 81 11 Rediscounts Other liabilities 1 6 11 3 17 30 166 1 1,059 Due to other banks Acceptances of other banks and foreign bills of exchange or drafts sold with indorsement of this bank 1,057 6 1,660 1,635 3 8 754 14 717 14 102 220 1,448 658 16 146 2,068 1,991 3 159 397 1 3 576 46 5,297 11 1,771 1,549 1 1 2 362 1 6,452 2 823 2 885 Chile: Santiago Valparaiso Italy: Genoa.. Milan Porto Rico: San Juan Caguas Republic of Panama: Colon -__ Panama England* London Java: Batavia Peru: Lima . Straits Settlements: Singapore Uruguay: Montevideo _ Venezuela: Caracas Total— ,__ 601 602 11 6 1,570 82 22 1,215 306 54 3,921 1,575 998 1,248 70 119 3,955 989 353 111 75 147 1,058 855 232 1,030 1,111 6,078 4,368 81 329 1,024 3,109 37 13 350 21 249 1,703 920 244 11 i 5,032 244 99 8 3 500 748 478 6,942 5 14 116 9 12 72 2 20 5,030 1 1 2,051 24, 746 15 309 50 1,919 374 1,919 302 41 12,893 707 13, 755 1,260 343 13, 600 15,015 182 3 88 3,631 220 83 54 79 1,937 6,532 22,161 912 2,343 7,656 3,290 5,205 55, 608 27, 902 216, 712 367 128 105 403 636 1,438 3,415 274 304 143 962 11 1 a 16, 812 2 340 15, 582 4 47 16, 935 465 1 3 176 959 105 201 2 201 50 470 93 341 61 304 39, 846 29, 533 30, 619 1,316 i 2, 521 4,522 i 4, 364 2 2 5 20 34 11,407 4 59 14,199 CHASE NATIONAL BANK OF NEW YORK, N. Y. Canal Zone: Cristobal Cuba: Havana Republic of Panama: Panama Total 367 FIRST NATIONAL BANK OF BOSTON, MASS. Argentina: Buenos Aires Cuba: Havana Total 1 Includes United States deposits. 1 21,284 3,869 2 2,847 15,843 243 93 772 343 53 17 25,153 2,847 15,843 336 1,115 70 a Includes bills payable. 1 o o 302 REPORT OF THE COMPTROLLER OF THE CURRENCY TABLE N O . 45.—Number, capital stock paid in, circulation outstanding, and aggregate assets of national banks at date of each report from February 28, 1920, to October 10, 1927, together with the total amount of money in the United States on June 30 of each year, and the percentage of national-bank circulation to capital, to assets, and to money in the country [For prior years see annual report 1920] [Amount in millions of dollars] Percentage of circulation Date 1920 Feb. 28... May 4___ June 30.. Sept. 8__ Nov. 15. Dec. 29.. Number of banks Paid-in capital Circulation Aggregate Money in United States Capital Assets Money in United States 7,894.5 58.2 56.7 56.2 55.5 55.0 54.5 3.0 3.0 2.9 30 30 30 8.7 13.3 697.9 693.9 22,959.0 23,252. 9 23,411.3 23,175.8 23,535.1 22,799.4 1,273.2 1,271.4 1,273. 9 1,276. 2 1,282.4 684.4 679.6 704.1 704.7 717.5 21,451.7 20,560.3 20,517. 9 19,719.2 19,943. 7 8,096.0 53.8 53.5 55.3 55.2 55.9 3 ?, 33 3.4 3.6 36 8.7 8,197 8,230 8,249 8,240 8,225 1,289. 5 1,296. 2 1, 307.2 1, 307.1 1, 317. 0 719.6 721.0 725.7 726.8 723.8 19, 850.4 20,176. 6 20, 706.0 20, 926.1 21, 975. 0 8,177.5 55.8 55.6 55.5 55.6 55.0 3.6 36 3.5 3.5 3 3 8.9 1923 Apr. 3_. J u n e 30.. Sept. 14. Dec. 3 1 . . 8,229 8,241 8,239 8,184 1, 319.1 1, 328.9 1, 332.4 1,325.8 728.1 720.0 731.5 725.9 21, 612.7 21, 511. 8 21, 712.9 22,406.1 55.2 54.2 54.9 54.8 3.4 3.3 3.4 3 ?, 1924 M a r . 31. J u n e 30.. Oct. 10.. Dec 3 1 . . 8,115 8,085 8,074 8,049 1,335.6 1, 334. 0 1, 332. 5 1,334.8 726.5 729.7 723.5 714.8 22,062.9 22, 565. 9 23, 323.1 24, 381. 2 8,746. 5 54.4 54.7 54.3 53.6 3 3 3.2 3.1 8.3 1925 A p r . 6.. June 30.. Sept. 28.. Dec. 3 1 . . 8,016 8,072 8,085 8,054 1,361.4 1, 369. 4 1, 375. 0 1, 379.1 649.4 648.4 649.2 648.5 23,832. 4 24, 350. 8 24, 569. 5 25, 852.4 8, 221.2 47.7 47.3 47.2 47.0 2.7 2.7 ? 6 2.5 7.9 Apr. 12. June 30. Dec. 31_. 8,000 7,978 7,912 1,410. 4 1,412.9 1, 410.7 649.5 651.2 646.4 24,893.7 25,315. 6 25,683.8 8,373. 7 46.1 46.1 45.8 2.6 2.6 2.5 7.8 1927 Mar. 23. June 30.. Oct. 10.. 7,828 7,796 7,804 1,460. 4 1,474.1 1, 499. 3 642.5 650.9 649.9 25,699.1 26, 581. 9 27, 213. 8 8,532.0 44.0 44.2 43.3 2.5 2.4 2.4 7.6 7,933 7,990 8,030 8,093 8,123 8,130 1,182.1 1,214. 8 1,224. 2 1,248. 3 1,269. 9 1,272.3 Feb. 21. Apr. 28.. June 30_. Sept. 6_. Dec. 31.. 8,143 8,152 8,154 8,155 8,169 1922 Mar. 10. May 5... J u n e 30.. Sept. 15. Dec. 29__ 1921 1926 EEPOKT OF THE COMPTROLLER OF THE CUREENCY 303 TABLE NO. 46.—Abstract of the resources and liabilities of national banks in Neiv York, in the two central reserve cities, in other reserve cities, and elsewhere, at close of business October 10, 1927. [In thousands of dollars] New York (23 banks)i New York Other reserve city and banks Chicago" (36 banks) (367 banks) Country banks .(7,401 banks) Aggregate (7,804 banks) EESOURCES Loans and discounts (including rediscounts)2 Overdrafts United States Government securities owned . Other bonds, stocks, securities, etc., owned. Customers' liability account of acceptances. Banking house, furniture and fixtures Other real estate owned-. Lawful reserve with Federal reserve banks. Items with Federal reserve banks in process of collection Cash in vault Amount due from national banks__ Amount due from other banks, bankers, and trust companies. _ Exchanges for clearing house Checks on other banks in the same place._. Outside checks and other cash items. Kedemption fund and due from United States Treasurer United States Government securities borrowed Bonds and securities, other than United States, borrowed Other assets _ _ Total.. Capital stock paid in -----Surplus fund.. _ Undivided profits, less expenses and taxes paid.. Reserved for taxes, interest, etc., accrued.. National bank notes outstanding Due to Federal reserve banks._ Amount due to national banks_ Amount due to other banks, bankers, and trust companies Certified checks outstanding Cashiers' checks outstanding-_ _. Demand deposits Time deposits (including postal savings)._. United States deposits. __ Total deposits _ United States Government securities borrowed Bonds and securities, other than United States, borrowed Agreements to repurchase United States Government or other securities sold Bills payable (including all obligations representing borrowed money other than rediscounts) Notes and bills rediscounted Acceptances of other banks and foreign bills of exchange or drafts sold with indorsement Letters of credit and travelers' checks outstanding i Acceptances executed for customers and to furnish dollar exchange less those purchased or discounted Acceptances executed by other banks Liabilities other than those stated above. _. Total.. 2,464,525 596 3,167, 916 4,874,402 3,583 6,324,608 10,030 14, 366,926 14,503 532,173 383,324 168,611 55,440 209 353,046 590,843 448,870 177, 926 73,380 378 449,424 989, 505 975,262 99, 938 233,380 28,963 465,519 1,095,194 2,517,306 5,725 391,756 92,820 2,675,542 3,941,438 283, 589 698,516 122,161 1,413, 792 105,996 27,428 12,306 124,097 34,478 57,439 292,818 97,903 365,649 85,121 242,870 702, 784 502,036 375, 251 1,125,872 15,549 538,235 44,033 10,305 38,887 582,168 45,927 11, 915 243,016 173,122 15,562 177, 939 35,206 24,990 21,990 459,842 790,496 86,479 86, 832 1,651 1,874 23,335 33,079 500 500 14, 780 350 94,878 350 114,047 7,207 761 82,972 7,073 1,837 22, 723 2,948 219, 742 4,809,155 5,921,309 9,010,359 12,282,156 27,213,824 215,500 275,450 269,650 317,855 470,834 366,072 758,900 589,102 1,499,384 1,273,029 97,252 11,012 32,290 117,676 17,177 36, 673 156,857 34,470 154,122 6,129 584,124 296, 949 26,874 459,091 29, 978 108,894 571,482 78.521 649; 886 36,107 1,076, 860 268,673 383,842 646,207 243,114 113,411 2,035,900 443, 719 61, 928 8,812,952 793,388 249,247 118,119 2,612, 928 543,126 73, 548 4,774,198 52, 927' 7,870 283,499 1,894,696 817,809 14,629 281,479 17,603 227,217 42,212 66,886 3,663, 950 4,647,433 10,924,311 7,590,944 2,243, 997 4,803,821 49,574 255,624 132, 502 7,533,000 9,980,040 22,287,238 7,207 7,080 14, 787 761 1,837 2,948 1,800 1,245 3,045 500 500 350 350 62,697 2,294 54,273 2,294 94,635 21,294 86,851 56,983 235,759 80,571 110,262 118,254 38,741 427 157,422 5,553 4,855 276 10,684 161,558 12,853 20,599 171,496 13,544 21,816 102,879 3,655 19,177 4,592 1,245 10,664 278,967 18,444 61,657 4,809,155 5,921,309 9,010,359 12,282,156 27,213,824 1 Figures in this column included with New York and Chicago in the next column, Includes customers' liability under letters of credit. 2 CO TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927 DECEMBER 31,1926 [In thousands of dollars] Time deposits Demand deposits Cities. States, and Territories Certifior Deposits Individual cates of State subject other to Divideposits deposits municinotice dends subject to due in of less pal unpaid less than deposits than 30 check 30 days days Other demand deposits Total Certificates of deposits due on or after 30 days State and other municipal deposits Other time deposits Postal savings deposits Total CENTRAL RESERVE CITIES New York. Chicago Total central reserve cities. 2,156,603 509,178 9,287 2,624 28, 711 16,320 1,972 2,219 43,603 81 2,240,176 530,422 13,560 8,046 5,250 364,245 64,496 5,006 1,282 390,857 79,611 2,665, 781 11,911 45,031 4,191 43,684 2, 770,598 22,143 13, 296 428, 741 6,288 470,468 412,904 21,498 46,306 3,539 399,497 230,970 79,845 71,042 31,190 43,800 30,693 21,540 23,845 63,177 12, 281 26,401 8,085 64,388 27, 282 7,745 1,992 46, 259 7,564 19,527 59,826 10,180 5 244 44 1,202 .4,067 451 895 72 798 87 353 94 467 271 356 530 752 567 108 50 7,392 1,057 185 7,652 6,111 5,190 1,277 3,444 1,276 5,872 1,297 463 29 325 2,818 672 38 100 26 847 627 509 267 190 149 35 75 101 250 10 193 63 133 57 107 2,481 8,138 255 426, 797 37,071 47,962 3,794 411,607 246,011 22, 859 756 340 380 9,021 7,198 4,101 3,283 1,242 94 6,967 88 2,103 478 328 1,526 294 3,292 1,568 171 473 7,169 2,185 3,806 2,693 1,545 25 25 340 500 131,077 9,398 8,401 10,019 107,813 64, 713 25, 961 30,939 16, 343 25,420 22, 701 14,138 3, 359 13 960 4 2,067 972 70 304 60 199 1,008 108 89 149 77 136 42 79 115 12 12 105 85 55 291 157,295 10,167 9,701 11,948 118, 926 72,908 30,472 35,026 17,645 25, 713 36,196 14,834 2,687 16,528 6,342 10,268 11,565 29,860 9,102 5,226 1,412 23,224 6,179 17,217 25,260 OTHER RESERVE CITIES Boston _._ Albany _ _ Brooklyn and Bronx. Buffalo... Philadelphia Pittsburgh Baltimore Washington Richmond ._ Atlanta Jacksonville Birmingham New Orleans Dallas... laso.I__ Fort Worth Galveston Houston San Antonio Waco Little Rock Louisville Memphis Nashville Cincinnati 52 633 4 290 547 994 858 155 744 1,052 5,616 $510 2,177 1,150 247 30 46 211 232 3,086 3 846 31 30 7 411 10 74,327 34,896 46,054 36, 717 23,272 24,914 63,933 12,887 29,774 8,678 65,862 28,900 8,818 2,147 47,302 8,236 40 65,943 5,520 500 495 1,433 580 50 2,000 900 300 14,468 5,357 11,229 26,439 5,419 5,043 927 15,950 3,909 12,456 21,976 Cleveland Columbus Toledo... Indianapolis Chicago Peoria Detroit Grand Rapids Milwaukee Minneapolis St. Paul Cedar Rapids Des Moines Dubuque Sioux City Kansas City, Mo St. Joseph St. Louis Lincoln Omaha Kansas City, Kans Topeka Wichita Helena Denver Pueblo Muskogee Oklahoma City Tulsa Seattle Spokane Portland Los Angeles Oakland San Francisco Ogden 24,992 37,288 2,856 44,502 27,338 11, 591 114,020 15,638 70,087 77, 807 52,350 7,202 17,188 3,202 9,983 55, 750 8,055 160,002 9,341 45, 650 2,951 10,871 12,827 2,852 66, 849 9,605 5,541 27, 326 45, 092 55, 500 11,801 46, 720 134, 220 15,154 141, 683 3,864 15, 526 1,455 643 34 8 503 9 1,715 289 810 281 299 254 471 450 1,034 323 3,801 200 1,089 266 485 329 101 367 145 6,798 14, 285 6,957 1,810 1,285 3,037 350 4,045 5,209 2,846 1,837 3 182 40 3,652 Total all reserve cities 974 10 85 43 50 115 529 13 8 9 4 213 42 34,308 52, 559 2,925 51,575 29,841 13,021 119,218 16, 350 74,385 84,829 55,657 7,721 19,304 3,709 10,484 60, 728 8,407 173,199 11,274 49, 325 6,185 14,819 15,972 3,614 74,067 9,935 6,621 36, 719 48, 923 63,141 13, 251 53, 783 148, 546 21,323 155, 908 4,917 18, 893 4,907 3,653 216 5,363 1,591 3,788 7,008 3,600 9,030 10, 720 11, 921 1,180 716 1,508 2,206 6,041 969 14,538 173 2,974 658 866 1,024 469 2,056 1,008 830 2.746 1,291 2,239 4,040 2,465 7,325 496 9,578 868 1,920 10,187 1, 095 2,000 368 65 899 1,770 747 500 27, 299 8,912 2,814 2,948 47,661 6,182 35, 721 8,807 24,068 44, 843 22,432 5,090 2,297 4,214 5,053 4,442 4,999 51,828 3,885 9,125 672 326 4,423 1,372 44, 584 3,214 1,228 9,995 12,824 29,749 12,934 49, 053 132, 394 3,947 26,621 757 4,565 25 276 38 124 381 25 463 28 402 669 2,470 19 1,439 25 528 967 52 385 18 258 282 374 164 102 1,852 201 97 1, 465 65 2,858 117 1,365 387 172 454 18 174 42,418 13,936 5,068 8,435 50,001 10,060 44,091 12,435 33, 500 58,002 36,823 6,289 4,452 5,747 7,787 12,197 6,020 67,251 4,076 12,607 1,707 1,566 5,611 1,943 49,812 4,433 2,892 15, 985 14,430 34,846 17, 091 52, 883 161,648 4,615 38,463 1,643 6,695 1, 563,159 298 1,194 460 906 7 806 1,219 393 464 287 437 8,747 1,691 2,521 2,954 3,433 2,791 640 6,501 180 827 8,056 3,287 5,960 1,110 5,774 10, 205 5,661 11,882 766 2,795 3,164,420 44, 056 192, 336 4,320 10, 002 22, 871 3, 438, 005 214, 396 59, 673 1, 259, 980 29,110 5,830, 201 55, 967 237, 367 4,320 14,193 66, 555 6, 208, 603 286,539 72,969 1, 688, 721 35, 398 2, 033, 627 35,977 35,776 16,879 219,773 26,542 121,954 718 1,735 781 3,562 3,316 2,355 16 3 146 64 39 401 226 37,028 37,782 17,951 224,877 29, 985 125,088 1,948 1,870 769 9,787 2,100 7,203 135 147 317 204 252 848 127 553 456,901 12,467 166 146 2,301 730 472, 711 23,677 9 170 233 108 29 452 297 315 2,299 52 1,185 135 Salt Lake City Total other reserve cities... 89 333 35 108 105 93 393 73 138 474 167 30 16 36 7 79 29 309 42 56 14 30 25 21 180 5 20 35 55 323 36 168 603 63 694 250 95 1,320 10 737 1,779 250 21, 542 1,810 36 COUNTRY BANKS Maine New Hampshire Vermont Massachusetts Rhode Island Connecticut Total New England States. 247 85,279 15,213 33,611 187,040 11,656 74,389 89 296 61 804 86 766 87,451 17,379 34,448 197,838 13,842 82,605 596 407,188 2,102 433,563 7 207 TABLE NO. 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued CO o DECEMBER 31,1926—Continued [In thousands of dollars] Demand deposits Time deposits O Cities. States, and Territories Certifior Deposits Individual cates of State other tosubject deposits deposits notice municiof less subject to due in pal less than deposits check than 30 30 days days Dividends unpaid Other demand deposits Total Certificates of deposits due on or after 30 days State and other municipal deposits Other time deposits Postal savings deposits Total o COUNTRY BANKS—continued New York New Jersey Pennsylvania. Delaware Maryland Total Eastern States Virginia West Virginia North Carolina South Carolina Georgia Florida Alabama.. Mississippi . Louisiana Texas Arkansas Kentucky Tennessee - __. __ _ Total Southern States Ohio Indiana Illinois Michigan Wisconsin Minnesota .___ 320,037 366,694 432,392 6,335 22, 910 0, 740 5,553 8,598 219 2,715 1,148,368 21,110 58,798 85, 796 71,204 66,517 37,807 33,283 78, 776 54,286 31,768 36,704 263,315 36,023 72,219 56,989 5,997 1,683 1,055 317 1,877 1.084 l', 398 234 934 9,185 1,813 660 542 2,701 3,501 5,282 2,340 1,360 15.099 1,974 4,475 4,466 22,041 1,221 808 342 924, 687 26, 779 65,610 189,828 115,690 205,334 71,241 80,923 64,945 10, 790 5,855 10,469 4,746 3,185 8,483 21,784 9,848 8,487 7,626 3,381 9,231 32,412 915 22, 756 2,797 632 9,682 3,787 124 363,851 376.210 482; 588 10,222 26,258 44,875 11,197 126,367 173 3,180 1, .507 164 9,141 33 1,855 1,890 3,907 100 257 137 .503, 923 383,802 691,451 7,956 62, 672 5,822 8,009 17,022 1,259,129 185, 792 11,009 1,649,804 1,229 656 602 287 275 318 407 235 263 1,322 192 419 320 690 42 49 74 102 385 255 1,182 697 692 1,621 133 5 96,413 77, 722 73,617 40,830 36,897 95,662 58,335 37,894 43,064 297,040 40,875 74,255 58,198 33, 599 19,131 23,406 9,210 9.869 9.059 6,926 12,518 3,613 16,287 11,388 27,865 26,565 1,153 525 514 1,278 161 4,553 39 3,485 306 4,123 466 111 1,274 6,525 5,927 1,030,802 209,436 219 18 155 1,177 820 1,324 576 664 506 549 893 595 428 158 3,387 224,347 133,124 226,364 84, 617 88,534 86,654 58,453 49,659 77, 798 29, 745 51, 781 71,774 10 526 5,253 636 112 5 15 485 5 16 223 102 084 1,225 4,097 57 14 5.51,049 396,388 831,056 8,186 66,003 0,077 1,852,082 321 297 328 563 148 1,587 110 40 32 49,157 31,921 42,776 16,543 43,138 32,876 15,312 14,875 27,293 16,094 28,190 29, 719 1,103 195 64 34 121,561 69,110 56,169 53,827 26, 721 58,337 39,951 31,355 18,826 48,806 28,143 56,230 56,926 17,322 434,382 4,822 665,962 4,653 723 1, 735 517 281 1,912 122,190 63, 651 133,042 118, 792 85, 598 58,394 546 1,544 645 185,941 314,579 214,119 149,699 138,109 133,310 449 1,230 d Iowa Missouri . _. - Total Middle Western States North Dakota South. Dakota Nebraska Kansas IVtontana Wyoming -Colorado New Mexico Oklahoma Total Western States.Washington Oregon California Idaho.. _ Utah Nevada _ _ __ _ Arizona Total Pacific States Alaska (nonmember banks) Hawaii (nonmember banks) _ Total (nonmember banks) Total country banks Total United States :--_ __ __ _ 80,504 41,373 7,723 1,942 958 2,338 47 28 272 152 477 40 89,981 45,873 60,785 14, 716 155 258 36,940 8,861 1,272 265 99,152 24,100 849,838 53,193 63,653 792 5,491 6,527 979,494 414, 711 10,234 627,468 6,596 1,059,009 28,863 22,955 30,483 78,988 26,547 16,529 44,548 14,324 107,177 4,604 3,255 6,161 9,020 2,644 1,151 4,179 1,186 3,905 3,313 4,491 2, 523 10,613 7,730 4,858 3,972 4,274 21,046 21 16 33 15 83 37 61 288 119 66 69 17 252 69 288 78 353 232 36 122 24 249 36,953 31,042 39,339 99,277 37,272 22,640 53,547 19,825 132,809 29,142 18,210 28,574 30,871 12,632 5,252 10,599 2,611 21,571 1,158 406 141 457 1 14 543 128 4,943 10,396 6,602 5,160 9,285 13,426 7,269 17,338 2,141 11, 957 803 1,818 45 641 2,981 1,386 1,104 576 1,164 41,499 27,036 33,920 41,254 29,040 13,921 29,584 5,456 39,635 370,414 36,105 62, 820 922 992 1,451 472,704 159,462 7,791 83, 574 10,518 261,345 48,070 34,933 142,038 22,297 3,258 6,051 13,402 1,645 4,009 4,114 2,101 147 314 152 11,396 6,270 24,154 7,083 858 997 2,104 24 8 224 554 341 183 674 61 10 18 15 183 42 534 445 36 23 51 61,659 45,445 171,738 32,541 4,309 7,403 15,724 9,292 8,288 10,290 5,406 880 297 830 727 162 8,831 210 75 1,150 38,960 18,156 91,102 9,650 3,480 6,429 5,222 2,078 620 748 1,693 37 205 349 51,057 27,226 110,971 16,959 4,472 6,931 7,551 270,049 12,482 52, 862 810 1,302 1,314 338,819 35,283 11,155 172,999 5, 730 225,167 2,061 2,554 13 279 26 1,413 2 19 40 2,142 4,265 98 366 1,064 364 192 3 1,354 733 657 180 4,615 292 1,439 21 40 6,407 464 1,428 195 2,087 4,024,872 162,428 305,348 9,766 24,641 33,011 4,560,066 1,028,825 58,107 3,376,843 36,040 4,499,815 9,855,073 218,395 542,715 14,086 38,834 99,566 10,768,669 1,265,364 131,076 5,065,564 71,438 6,533,442 3 o O o o 2 o 4 TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued OO S MARCH 23, 1927 [In thousands of dollars] Demand deposits Cities, States, and Territories Certifior Deposits subject Individual cates of State other to notice deposits deposits municiof less subject to due in pal less than deposits than 30 check 30 days days Time deposits Dividends unpaid Other demand deposits Total Certificates of deposits due on or after 30 days State and other municipal deposits Other time deposits Postal savings deposits Total CENTRAL RESERVE CITIES New York Chicago Total central reserve cities „ _ 1,978,763 473,516 5,395 3,179 13,515 11,867 292 41 2, 452,279 8,574 25,382 333 389, Oil 20,056 45,777 3,403 380,497 227,483 69, 684 73,214 28,918 45,801 28,586 19,709 20,355 64,106 12,369 35,509 7,393 61,709 28,765 7,391 1,647 47,530 7,432 19, 575 35,080 1,860 3 364 45 961 4,594 666 415 72 854 19 427 23 134 157 254 281 994 869 34 50 13,086 824 235 10,042 7,207 3,337 1,274 2,947 1,555 8,047 242 1,018 5,566 654 6,422 1,397 3,128 2,407 2,276 289 1,269 66,132 167 66,299 2,064,097 488,770 10,769 7,136 14,576 4,650 358,742 64,779 6,461 1,288 390,548 77,853 2,552,867 17,905 19,226 423,521 7,749 468,401 3,087 33,135 338 394,911 66,280 47,303 3,683 394,183 243,600 73,701 76,231 31,938 48,217 36,702 20,380 21,597 69,834 13,180 42,187 9,072 65,910 32,058 9,701 1,936 48,840 7,884 20,721 42,698 22,173 840 346 481 9,449 8,148 4,050 4,638 701 107 8,269 71 2,507 919 771 986 487 2,827 1,431 260 670 10,475 2,652 4,495 1,972 129,105 8,947 9,121 10, 592 108,320 75,573 27,141 33,920 16,383 27,783 22,759 14,635 3,229 13 1,546 4 2,038 977 76 314 60 245 1,584 113 105 148 165 139 43 85 118 16 15 111 95 61 85 154,507 9,800 11,063 12,857 119,807 84,716 31,457 39,372 17,144 28,135 39,361 15,319 3,896 17,613 6,449 11,511 13,458 30,757 12,422 5,509 1,562 27,862 6,801 18,288 16,027 OTHER RESERVE CITIES Boston Albany. _ __ Brooklyn and Bronx Buffalo PhiladelphiaPittsburgh ... _ _ Baltimore Washington. _ Richmond Atlanta. _ Jacksonville . Birmingham _ _ New Orleans Dallas _ El Paso__ Fort W o r t h . . Galveston.. _ . . . ______ H o u s t o n . . . ___ San Antonio Waco Little Rock _ Louisville _ _ _ Memphis Nashville. Cincinnati___ 34 401 4 593 1,093 7,018 588 2,274 1,191 315 101 39 13 211 1 4 1 3 6 308 3,086 1,117 3 49 2 198 22 2 1 1 1 78 16 7 30 3 6 21 46 1 50 1,780 18 190 500 6,749 500 1,284 560 148 50 5,100 1,500 300 16,546 4,953 10,386 12,780 27,795 5,773 5,233 877 17,276 4,054 12,232 13,670 Cleveland _ Columbus Toledo ndianapolis Chicago Peoria_ _ Detroit Grand Rapids _ _ Milwaukee... __ Minneapolis St. Paul Cedar Rapids __ Des Moines Dubuque Sioux CityKansas City, Mo St. Joseph St. Louis Lincoln Omaha Kansas City, Kans Topeka Wichita _ HelenaDenver _ Pueblo Muskogee__ _ __ Oklahoma City- _ Tulsa Seattle. Spokane__ Portland Los Angeles Oakland San Francisco Ogden Salt Lake City Total other reserve cities Total all reserve cities __ . _ _ 23,180 39,777 3,059 40,997 26,422 11,699 106,644 12,225 60, 586 73,979 45,750 6,331 18,487 3,185 9,103 56,975 8,028 158,035 8,438 43,702 3,480 10,755 12,195 2,857 62,911 8,439 4,846 31,879 57,448 49,319 10,857 41,082 118,087 14, 301 255,908 3,179 15,320 761 633 7 538 9 2,562 221 756 349 78 118 466 444 1,268 333 1,202 190 1,010 288 661 316 100 320 157 12, 663 20,444 564 4,312 1,842 1,535 1,972 850 8,465 9,390 6,544 3 4 5 10 31 16 192 1,801 25 90 3,063 27 5 3 1 1 1 11 1 228 871 7 111 40 100 59 451 13 10 21 4 3 55 209 620 435 452 6 441 913 61 2,875 316 546 5,008 1,610 3,087 1,612 2,201 2,270 410 8,834 217 1,320 10,421 6,137 11,892 3,717 5,557 9,200 3,900 10,313 567 1,735 3,140,465 33, 510 244,951 4,465 1,420 47,154 _ 5, 592, 744 42, 084 270,333 4,465 1,753 113,453 43 34 14 10 4 10 1 17 1 1 145 3 16 1 160 201 135 27 650 174 255 1,820 51 377 96 37,478 60,865 3,623 45,321 28,923 13, 314 111, 278 13,323 69,115 84, 589 52,657 6,611 20,428 3,681 9,640 61,372 8,362 164,716 10,238 47,856 5,380 13,627 14,781 3,368 72,229 8,813 6,367 43,065 64,048 62,330 14,755 47,481 130, 023 18, 313 269,489 4,062 17, 697 4,815 2,457 125 4,247 1,488 4,180 3,683 3,764 8,381 12,044 8,125 952 610 1,776 2,113 5,661 969 19,596 281 3,055 715 839 905 465 1,171 1,027 1,013 3,064 1,681 3,611 4,082 2,729 8,190 926 17, 429 852 1,744 12,104 500 3,800 3, 471, 965 228,490 125, 398 1, 605, 849 31, 207 1,990,944 144, 624 2, 029, 370 38, 956 2, 459, 345 345 65 2,968 1,660 662 1,000 250 129 140 1,376 18 734 1,585 366 16,100 62, 226 641 28,604 10,102 2,821 3,099 47,903 6,258 34,063 9,000 23,575 45,605 22,635 5,017 1,765 4,479 5,204 4,963 4,855 53,110 3,669 9,325 527 337 4,602 1,365 46,945 3,267 1,263 8,933 18,145 28, 561 12,145 48, 515 129,069 4,327 350,558 764 4,620 25 257 39 129 382 30 394 22 314 703 2,843 26 2,067 30 588 1,112 93 384 19 287 397 453 168 103 1,857 204 111 1,710 58 2,433 93 1,248 350 146 609 18 120 45, 548 13,316 6,785 7,475 50,118 10,533 41,108 12,786 32,270 60,012 33,603 5,995 4,442 6,285 7,905 12,398 5,917 74,090 3,969 12,917 1,768 1,629 5,815 1,933 51,349 4,516 3,121 15, 292 20,250 34, 605 16,320 52,492 153,709 5,399 430,822 1,634 7,125 6, 024, 832 246, 395 2,017 2,227 879 11,753 2,120 7,489 8 87,862 15, 696 34, 057 192,799 12,042 77, 991 88 288 61 803 84 739 89,967 18,211 35,005 205,355 14,246 86,219 26,485 8 420,447 2,063 449,003 COUNTRY BANKS Maine Nftw "Hampshire VermontMassachusetts Rhode Island Connecticut. Total New England States 34,379 34,403 15, 574 216,069 25,250 116, 911 1,055 1,922 671 3,850 3,250 2,462 442,586 13,210 10 1 154 132 62 165 194 5 60 53 568 4 8 5 36 1 10 242 35,453 36, 394 16,303 220,809 28, 563 119,625 64 928 457^147 CO TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued O MARCH 23, 1927—Continued [In thousands of dollars] Demand deposits Cities, States, and Territories CertifiIndividual cates of deposits deposits subject to due in check less than 30 days Time deposits State or other municipal deposits Deposits subject to notice of less than 30 days Dividends unpaid 39,428 555 23,219 377 10 5,963 114 49 562 Other demand deposits Total Certificates of deposits due on or after 30 days State and other municipal deposits Other time deposits Postal savings deposits Total COUNTRY BANKS—continued New York New Jersey Pennsylvania Delaware Maryland Total Eastern States... Virginia West Virginia North Carolina South Carolina Georgia Florida. . . Alabama Mississippi Louisiana Texas._ Arkansas Kentucky Tennessee . ... _ c •_. Total Southern States Ohio... Indiana Illinois Michigan Wisconsin Minnesota. ... _ a 358,499 327,657 468,827 9,029 25, 787 46,160 13,012 125,017 181 3,530 2,013 279 9,498 4 1,937 779 5,536 2 932 729 9,186 1,189,799 187,900 36 24 10 7 5 4 IS 3 15 45 6 9 7 370 47 56 52 102 327 30 253 431 749 398 167 4 89,976 80,595 70,598 39,952 33, 369 91, 593 53,506 36,583 36,504 299,167 38,916 72, 356 53,734 1,662 186 2,986 996,849 184 60 134 45 217 82 109 43 35 31 24 8 578 825 816 479 93 272 309,154 322,263 423,218 9,027 22,041 7,489 4,001 10,329 208 2,523 79 1,085,703 22,027 65,725 6,429 81, 606 74,116 63,028 37,263 31,091 73,933 50,098 28,925 31,769 253, 732 34,155 71,152 52,696 5,523 1,533 835 147 1,129 1,435 1,205 295 863 7,539 1,675 657 791 2,317 4,875 6,669 2,483 1,032 15,894 2,158 7,107 3,426 36.883 1,373 371 236 124 883,564 23,627 84,824 186,179 106,675 209,173 71,330 84,150 62,024 8,789 4,621 10,472 4,697 3,137 7,507 30,953 9,236 9,109 13,461 13,720 10,266 ' 10 219 1,309 226,792 121, 460 229,739 90,043 101,341 ' 80,159 ' 116 513,573 394,899 716,664 8,118 62,901 721 1,143 3,917 64 20 562,467 409,333 855,096 8,363 66,567 11,906 1,696,155 5,865 1,901,826 35,144 20,176 23,200 8,625 10,461 9,014 7,243 13,289 3,560 19,526 11,680 28,813 28,301 2,034 333 358 3,201 425 5,090 51 4,990 330 4,263 477 113 27 90,361 52,451 32,001 37,607 16,656 42,224 32,455 16, 553 14,524 29,555 16,431 29,911 31,276 135 317 356 727 150 1,932 113 42 36 1,231 238 69 45 127,674 73,277 55,915 50,160 27,692 58,260 39,862 34,874 18,450 54,575 28,826 58,906 59,649 219,032 21, 692 442,005 5,391 688,120 61,091 49, 509 78, 990 28, 859 52,760 70, 784 5,606 1,006 1,930 816 3,813 1,568 126,261 64,589 133,754 121,664 82,766 59,808 558 837 1,811 582 375 1,429 193,516 115,941 216,485 151,921 139,714 133, 589 o O i Iowa. __ _ Missouri Total Middle Western States H* k3 Si o I to 00 I / [2 North Dakota South Dakota Nebraska. Kansas. _. Montana.. Wyoming Colorado . New Mexico Oklahoma Total Western States... Washington Oregon California Idaho Utah . Nevada Arizona. . Total Pacific States. Alaska (nonmember banks) The Territory of Hawaii (nonmember banks) . 82,886 39,063 6,918 1,504 2,826 841,480 47,645 90,541 775 26,061 21,596 30, 780 76,555 26,097 14,396 40,738 13,158 106,802 3,663 3,327 6,091 8,910 2,661 1,058 3,018 944 3,070 5,378 4,165 1,996 8,859 6,215 4,168 6,644 3,973 24,335 21 12 30 14 87 356,183 32,742 65, 733 177 43,282 32,071 125,414 20,436 2,740 5,709 13,461 1,430 3,666 2,972 2,005 130 207 224 22,315 6,854 21,264 5,537 640 868 2,130 14 3 417 630 6 243,113 10,634 59,608 1,070 2,093 2,317 19 168 53 1,022 970 53 5 37 91,189 43,437 68,092 15,207 36,170 9,093 1,516 276 276 24,852 262 3,457 984,160 415,292 15,035 634,105 7,384 1,071,816 3 15 66 278 81 264 227 43 85 25 265 35,192 29,378 38,979 94,614 35,212 19,665 50,498 18,100 134, 574 29,275 17,364 28,363 31,391 12,918 5,469 12,278 2,924 23,168 1,240 575 65 318 4 24 447 283 4,839 10,349 6,374 4,579 9,749 14,020 7,250 17,901 2,169 12,146 921 1,983 52 929 3,080 1,311 1,134 649 1,383 41,785 26 296 33,059 42,387 30,022 14,054 31,760 6,025 41,536 43 1,334 456,212 163,150 7,795 84,537 11,442 266,924 7 2 34 2 1 1 104 48 884 7 36 23 66 67,152 42,644 150,985 28,615 3,548 6,814 15,882 9,274 8,628 10,408 5,569 812 462 970 948 346 7,885 185 166 9 1,182 37, 794 18,023 83,926 9,935 3,537 6, 530 5,263 1,860 501 526 1,742 39 207 344 49,876 27,498 102,745 17,431 4,554 7,208 7,759 E fel _ 9 O g |t 47 1,168 315,640 36,123 10, 721 165,008 5,219 217,071 «J 30 2,195 3,507 98 724 1,028 356 153 3 1,279 1,083 5 g 7 1 12 12 13 357 20 95, 798 £rf £ Htf O # h= O 4,410 187 1,075 30 5,702 822 1,384 156 2,362 ^ Total country banks 3,857,039 150,072 367,671 10,307 1,331 19, 089 4,405, 509 1,048,804 67,157 3,443,641 37,520 4,597,122 ^ Total United States 9,449, 783 192,156 638,004 14, 772 3,084 132,542 10, 430,341 1,295,199 211, 781 5,473,011 76,476 7,056,467 ^ Total (nonmember banks) CO CO TABLE N O . 47.—Classification of deposits in national banks at date of each call during year ended October 10, 1927—Continued JUNE 30, 1927 [In thousands of dollars] Dem and deposits Cities, States, and Territories Certifior Deposits subject Individual cates of State other deposits municideposits to notice subject to due in of less pal less than deposits check than 30 days 30 days Time deposits Dividends unpaid Other demand deposits Total Savings deposits State and Postal other Other time savings municipal deposits deposits deposits Total CENTRAL RESERVE CITIES New York. Chicago.— Total, central reserve cities 2,135,769 492,074 4,616 5,883 15,132 82,943 2,236 2,251 103,195 211 2,260,948 583 362 216,116 14,424 13,644 7,250 192,673 70,777 5,684 1,290 428,117 93,741 2, 627, 843 10, 499 98, 075 4,487 103,406 2, 844,310 230,540 20,894 263,450 6,974 521,858 413,966 21,142 50,149 4,429 387,890 227,342 74,159 76,487 28,864 43, 376 25,014 27, 212 21,471 20,051 65,518 12,085 36,774 6,864 61,915 26,905 7,004 1,586 39,585 7,738 21,450 2,655 4 50 10,960 950 315 9,941 11,263 3,541 1,272 3,051 1,664 266 3,680 703 1,438 3,969 467 4,353 1,179 3,065 2,233 1,637 55,228 1,335 1,177 1,104 37,108 8,175 5,414 1,399 464 2,860 13 1,272 3 2,003 939 78 333 62 278 336 1,574 120 117 148 208 142 43 86 110 20 15 108 94 67 178, 077 10,524 12,859 14,158 117,823 79,291 32,416 41,484 19,936 30,156 22,837 39, 780 15,922 3,101 18,237 6,341 12,308 13,755 31,478 13,420 5,818 1,396 29,330 7,311 20,113 OTHER. RESERVE CITIES Boston Albany Brooklyn and Bronx. Buffalo. Philadelphia Pittsburgh Baltimore Washington. Richmond Atlanta. _. _ Savannah Jacksonville Birmingham New Orleans Dallas ElPaso Fort Worth Galveston Houston San Antonio Waco Little Rock Louisville Memphis... Nashville 310 68 1,513 4,022 699 466 22 848 615 34 413 29 118 186 417 275 1,197 802 92 30 521 6 513 746 1,131 736 2,378 1,204 824 38 87 33 779 458 470 253 190 149 99 52 95 101 260 4,917 38, 740 369 299 4,204 1 1,422 111 18 49 7 398 19 132 61 86 57 75 267 30 67 55 121 423,148 70,884 51,865 4,845 402,800 248, 493 78,870 79,900 32,127 46,148 26,012 31,027 22,689 22,017 69,884 12,738 41,679 8,379 66,320 30,086 8,808 2,099 40,628 8,344 22, 775 119,989 9,176 10,410 11, 457 78, 587 70,150 26,124 39,252 19,410 29,878 20,691 28,024 14,777 1,868 16,292 4,924 11,334 12, 618 30,231 6,537 5,645 873 4,374 17,130 1,594 125 27 800 500 20 7,381 500 1,116 560 289 50 5,234 8 1,115 1,790 2,801 525 1,797 649 832 805 1,111 1,539 153 500 2,764 2,843 1.801 Cincinnati Cleveland Columbus Toledo. _____" Indianapolis _ Chicago Peoria Detroit Grand Rapids Milwaukee Minneapolis St. Paul Cedar Rapids :__. Des Moines Dubuque Sioux City Kansas City, Mo St. Joseph St. Louis Lincoln Omaha__ Kansas City, Kans_. Topeka Wichita.. Helena. Denver Pueblo Muskogee Oklahoma City Tulsa. Seattle Spokane. Portland.. Los Angeles Oakland San Francisco— Ogden_._ Salt Lake City 34,696 28,069 44,492 4,120 41, 661 25,348 12,960 117,438 10,926 63,341 76,876 49,062 7,857 18, 250 3,380 9,805 60,977 7,463 149,100 1,098 858 894 34 7 647 8 2,421 179 483 711 264 70 97 494 539 5,346 326 3,656 332 912 297 524 262 100 324 153 6,930 7,023 10, 339 7,383 1,792 1,535 1,736 1,382 3,905 10,472 5,965 "l85" 1,580 25 94 3,102 515 4,351 2,292 2,783 2,826 3,349 3,109 574 6,440 209 1,424 44, 332 3,308 9,738 12, 789 2,874 61,196 8,325 5,523 30,545 52,630 53,857 10,877 41, 621 119, 701 14, 861 276, 619 3,804 14,810 733 745 425 6 490 1,210 51 3,533 227 528 8,091 11,109 3,608 6,512 9,642 4,023 10,179 415 1,092 Total, other reserve cities _ 3, 251, 205 44,326 222,891 Total, all reserve cities 5, 879, 048 54, 825 37,356 32,154 16,592 213,113 25, 233 137,635 807 1,746 365 3,941 3,444 2,461 ""2I" 462,083 12,764 406 COUNTRY BANKS Maine. _ New Hampshire Vermont Massachusetts Rhode Island Connecticut Total, New England States. 50 173 42, 735 37,069 55,847 4,168 49,166 28,904 14, 665 122,045 12, 561 68,007 88,882 55,477 8,148 19,977 3,935 10,447 69,635 8,318 157,621 11, 755 48,102 6,454 13,644 16,192 3,574 68,391 223 200 29 828 195 1,318 4,449 62 2,309 7,195 40, 229 61,573 66,412 14,706 50, 111 135, 680 19,061 294,307 4,446 16, 526 16,726 32,908 9,446 3,450 7,358 48, 362 5,705 37,103 12,941 31, 869 43,845 25,905 8,134 1,854 4,742 4,847 6,008 5,524 53,356 3,823 8,647 1,612 369 4,836 1,435 43,244 3,543 1,649 7,268 16,109 28,848 14, 082 48,995 109,101 2,454 366,332 1,048 5,314 12 1,040 40 37 111 480 19 13 39 1 105 2 7 235 500 12,907 2,235 3,500 757 731 2,353 505 65 1,985 4,655 1,435 5,010 3,007 1,685 15,404 5,819 369 560 1,751 2,108 1,360 536 17, 672 181 3,854 730 715 819 ""BOO" 294 97 60 40 1,242 18 681 2,320 490 95 26 256 54 101 390 32 393 21 304 756 2,976 37 2,240 29 589 1,153 124 387 19 303 384 518 177 100 1,848 205 170 1,683 65 2,398 95 1,489 363 145 637 16 133 18,078 46, 572 14,290 7,004 12,114 50, 692 10,812 42,488 12,962 34,866 61,175 34,700 8,540 4,654 6,522 7,544 10,206 6,184 71,915 4,023 13,098 2,823 1,662 5,872 2,033 47,316 4,825 3,295 18, 710 19,957 34, 021 16, 410 51,158 151,957 5,892 452,982 1,653 7,088 400 1,059 795 7,439 3,293 2,775 2,233 674 26,296 3,293 17, 883 589 1,241 4,727 10,286 63 787 3, 597, 222 1, 645,001 134, 340 272, 883 4,727 14, T73 167,193 6,441, 532 1,875, 541 155, 234 349 203 215 899 126 592 845 64 377 91,264 15,520 33,932 192,837 12, 507 79,325 120 904 3,134 2,465 13,639 2,307 9,121 85 287 57 746 87 248 38,540 34,948 17,236 218,821 28,858 140,957 92,373 18,941 36,463 207,222 14,901 89,139 2,384 1,540 479,360 425,385 129 31,570 1,955 459,039 96 18 367 9 91 110 14 115 77 122 413 74 167 293 167 23 11 36 8 105 14 306 52 69 21 33 30 19 196 5 25 53 78 193 20 169 678 64 1,667 124 55 183 16,197 ~68,~l30~ 31,740 2, 083,964 !8, 714 2, 605, 822 TABLE NO. 47.—Classification of deposits in national banks at dale of each call during year ended October 10, 1927—Continued 00 JUNiE 30, 1927—Continued [In thousands of dollars] Demand deposits Cities, States, and Territories CertifiIndividual cates of deposits deposits subject t o due in check less t h a n 30 days Time deposits State or Deposits subject other Divimunici- toofnotice dends less pal u npaid deposits 30than days Other demand deposits Total 3 State and Postal Savings other Other time savings deposits municipal deposits deposits deposits Total 3 COUNTRY BANKS—continued New York New Jersey Pennsylvania Delaware Maryland Total, Eastern States. Virginia West Virginia North Carolina South Carolina Georgia — Florida Alabama Mississippi Louisiana Texas Arkansas Kentucky. : Tennessee __ _ Total, Southern States Ohio Indiana Illinois Michigan Wisconsin Minnesota ._ •_. 322,858 337,266 417,729 9,409 23, 709 7,491 3,654 11,099 179 2,553 1,110,971 22,423 19,644 83,102 71,431 GO, 651 35, 356 30,411 58,527 56,048 30,030 32,528 250,333 35, 750 55,456 6,161 1,998 992 376 1,009 1,810 1,545 321 896 7,473 2,076 635 339 1,887 3,760 7,273 5,221 916 16,042 2,237 5,314 3,095 28,505 1,412 795 249 869,290 25,631 76,706 196,328 110,660 216,891 75,087 82, 569 64,591 8,497 4,817 29,065 13,266 10,677 11,733 8,917 17,831 4,817 3,089 7,308 40,239 809 26,043 1 116 4,025 2,119 989 5,535 4 130 374,472 344,557 468,215 9,488 26,905 560,128 395,200 811,161 8,539 66,572 2,736 332 5,727 91 1,764 1,723 3,784 75 243 4, 233 7,589 8,777 1,223,637 1,841,600 1,211 590 506 255 250 237 360 181 143 856 92 381 310 154 36 106 100 52 286 264 270 306 1,359 1,664 435 2 92, 515 78,251 69,757 41,308 32,638 76,902 60,468 36,116 5,372 5,034 1,110 753 999 558 595 667 664 595 436 229 283 7 189 87 36 219 125 652 1,111 774 22,580 14,945 48,604 9 1,550 586,096 411,588 869,390 8,599 68,920 9,569 87,688 5,736 1,944,593 120, 721 64,658 45, 789 44,532 22,890 45, 722 42,976 21,937 16,952 34,364 22,567 46,675 45,554 1,292 306 1,117 5,220 452 7,157 603 3,197 214 4,030 216 78 45 9,046 12,457 5,183 5,243 4,270 2,141 9,759 1,177 16,242 6,824 14,245 15,378 114 286 151 774 171 1,791 122 45 41 1, 275 73 58 130,960 74,296 59,514 55,709 28,756 58,940 45,842 34,938 18,384 56,022 29,882 61,071 61,035 983,002 575,337 23,927 110,798 5,287 715,349 2