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Annual Report of the Comptroller of the Currency 1929

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Text of Annual Report of the Comptroller of the Currency 1929

Annual Report of the Comptroller of the Currency 1929WASHINGTON: 1930
For sale by the Superintendent of Documents, Washington, D. C. - - Price $1.25 (Cloth)
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TREASURY DEPARTMENT
CONTENTS
Page Submission of the report 1 Legislation recommended:
Amendments to national bank act 1-10 Amendments to the laws of the District of Columbia 10, 11
Branches: Statement relative to 11 Domestic branches of national banks—
Table showing, by States, number and manner of acquisition of branches during year ended October 31, 1929 12, 13
Table showing, by States, number and class of branches closed during year ended October 31, 1929 13, 14
Organization and liquidation of national banks, year ended October 31, 1929, and since establishment of system 15, 16
National banks in the trust field: Statement relative to • 16-18 Fiduciary activities of, in 1929, segregated according to capital- __„_ 19, 20 Fiduciary activities of, by Federal reserve districts, June 29, 1929-_ 21
National-bank failures: Statement relative to . 22-25 Financial operations of division of insolvent national banks from
September 30, 1928, to September 30, 1929 „. . 25, 26 Capital, date of appointment of receiver, and per cent dividends paid
by insolvent national banks, the affairs of which were closed during year ended October 31, 1929 26, 27
Bank failures other than national, year ended June 30, 1929 . 28 National-bank circulation:
Statement relative to ~ 28 Bond transactions relative to, year ended October 31, 1929 - 29 Statement of capital stock of national banks, national-bank notes,
and Federal reserve bank notes outstanding, bonds on deposit, etc., November 1, 1929 29, 30
Redemption of national and Federal reserve bank circulation, year ended June 30, 1929 30
National banks of issue 30, 31 Condition of national banks at date of each report called for during year
ended October 31, 1929 31 Principal items of resources and liabilities of national banks, October 4,
1929, by States . 32, 33 National-bank liabilities on account of bills payable and rediscounts at
date of each call during year ended October 31, 1929 34 Loans and discounts of national banks:
Classification of December 31, 1928, and June 29, 1929-_- 35 Classification of, by reserve cities and States, June 29, 1929--., 36-39 Comparative statement of, for the last three fiscal years, in central re-
serve and other reserve cities, all reserve cities, and elsewhere-- 40 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, 1925 40
United States Government securities held by national banks June 29, 1929:
Classification of, by reserve cities and States 41-43 Investments of national banks:
Comparison of, June 30, 1928, and June 29, 1929 43 United States Government, domestic, and foreign bonds, securities, etc.,
owned by national banks June 29, 1929: Classification of, by reserve cities and States 44-47
ni
IV CONTENTS
Per capita individual and savings deposits in all reporting banks June 29, 1929:
Statement, by States, showing approximate population, individual deposits, per capita individual deposits, savings deposits and per capita savings deposits „ 48, 49
Savings deposits and depositors in all reporting banks, according to class of banks, June 29, 1929 50-55
Earnings, expenses, and dividends of national banks: Comparison of, years ended June 30, 1928 and 1929 56 Abstract of—
By reserve cities and States, year ended June 30, 1929 57-66 By Federal reserve districts, year ended June 30, 1929 67, 68
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 1929 69
Number of national banks, capital, surplus, net addition to profits, divi- dends and percentage ratios, years ended June 30, 1914 to 1929 69
National banks classified according to capital stock, December 31, 1928: Number, loans and discounts, bonds and securities owned, aggregate
resources, capital, surplus and profits, and total deposits of 69, 70 National-bank examiners, list of, November 1, 1929 70-75 Convictions of national-bank officers and others for violations of the
national banking laws during the year ended October 31, 1929, list of_. 75-79 Federal reserve banks:
Assets and liabilities of the 12 Federal reserve banks combined, as of the last weekly statement date in October, 1920 to 1929 80
Principal assets and liabilities of the 12 Federal reserve banks com- bined, on the last weekly statement date in each month, from January, 1925, to October, 1929 81
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, 1929 82
Federal reserve bank discount rates in effect November 1, 1929, date established, and previous rate with respect to all classes and maturi- ties of eligible paper 82
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, 1928, to October, 1929 82-84
Rates for money in New York: Range of, monthly in the year ended October 31, 1929__ „__ 85 Comparison of range of, annually from January, 1920, to October,
1929 . 86 New York clearing house:
Statement relative to transactions of, year ended September 30, 1929. 87 Clearing house associations in the 12 Federal reserve bank cities and
elsewhere: Statement relative to transactions of, year ended September 30, 1929_ 87
Banks other than national, June 29, 1929: List of officials of State banking departments and number of each class
of banks under their supervision from which reports of condition were received 87-89
State (commercial) banks— Summary of resources and liabilities of, and comparison with
June 30, 1928 90,91 Loan and trust companies—
Summary of resources and liabilities of, and comparison with June 30, 1928 92,93
Principal items of resources and liabilities of, in June of each year, 1914 to 1929 94
Stock savings banks— Summary of resources and liabilities of, and comparison with
June 30, 1928 _ 94-96
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Banks other than national, June 29, 1929—Continued. Mutual savings banks— Page
Summary of resources and liabilities of, and comparison with June 30, 1928 96-98
Depositors and deposits in mutual and stock savings banks, by- States, June 30, 1928 and 1929 98-100
Number of savings banks (mutual and stock), number of depositors, amount of individual deposits, and average amount due each depositor in years ended June 30, 1914 to 1929 101
Private banks— Summary of resources and liabilities of, and comparison with
June 30, 1928 101-103 All reporting banks other than national—
Summary of resources and liabilities of, and comparison with June 30, 1928 103-105
Resources and liabilities of each class of « 106 Principal items of resources and liabilities of, on or about June 30,
1925 to 1929 „ 106 National banks, June 29, 1929:
Summary of resources and liabilities of, and comparison with June 30, 1928 ." 107, 108
Banks, all reporting, June 29, 1929: Summary of resources and liabilities of, and comparison with June 30,
1928 109-111 Abstract of resources and liabilities of, by States . _. 111—119 t Individual deposits in, classification of 120 Resources and liabilities of, years ended June 30, 1925 to 1929 121 Principal items of resources and liabilities of, in the continental United
States, as compared with similar data for member banks of the Federal reserve system „ 121
Money in the United States: Stock of, years ended June 30, 1914 to 1929. 122 Circulation statement of United States money, June 30, 1929 123 Imports and exports of merchandise, gold and silver, calendar years
1914 to 1928, and from January 1 to September 30, 1929 . 124 Banks in District of Columbia:
Number, capital, individual deposits, and aggregate resources of, June 29, 1929 125
Earnings, expenses, and dividends of, other than national, six months ended December 31, 1928, and June 30, 1929, and comparison of, in years ended June 30, 1929 and 1928 125, 126
Building and loan associations in the District of Columbia— Number of loans, installme nts on shares, and aggregate resources,
years ended June 30, 1909 to 1929 I 126, 127 Building and loan associations in the United States:
Statistics relating to, by States, year ended 1928 127 Mortgage loan investments held by, in 1927 and 1928, by States 128 Failures of, each year 1920 to 1928 . 128
Monetary stock of principal countries of the w orld: Statistics relating to, at the end of the calendar years 1927 and 1928. 129-137
Federal land banks, condition of, September 30, 1929 138, 139 Joint-stock land banks, condition of, September 30, 1929 140, 141 Federal intermediate credit banks, condition of, September 30, 1929 142 National agricultural credit corporatio ns 143 United States postal savings system:
Statistics relating to activities of, years ended June 30,1928 and 1929_ 143-147 School savings banking:
Statistics relative to, in each State, in school years 1927-28 and 1928- 29-__- „_„ „ . 148
Savings banks in principal countries of the world: Statistics relative to, as of various dates-._«_. . 149-151
Resources of leading foreign banks of issue: Statistics relative to, on or about June 30, 1929_m 152
Expenses of the Currency Bureau: Summary of, in the fiscal year ended June 30, 1929 „ - 153
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VI CONTENTS
APPENDIX Page
Digest of decisions relating to national banks 157-226 TABLES
No. 1. Comptrollers and Deputy Comptrollers of the Currency 227 No. 2. Names and compensation of officers and clerks in the office of the
Comptroller of the Currency, October 31, 1929 227-229 No. 3. Number of national banks organized since February 25, 1863,
number passed out of the system, and number in existence October 31, 1929 229
No. 4. Authorized capital stock of national banks on the 1st day of each month from January 1, 1925, to November 1, 1929, bonds on deposit to secure circulation, circulation secured by bonds, law- ful money on deposit to redeem circulation, an'd national-bank notes outstanding 230
No. 5. National banks reported in liquidation from November 1, 1928, to October 31, 1929, the names (where known) of succeeding banks in cases of succession, with date of liquidation and capital-_ 231-237
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, 1929, as shown by their last reports prior to consolidation. _ 238-243
No. 7. National banks consolidated under act of November 7, 1918, their capital, surplus, undivided profits, and aggregate resources, year ended October 31, 1929 244, 245
No. 8. State banks and national banks consolidated underact of Febru- ary 25,1927, their consolidated capital, surplus, undivided prof- its, and aggregate resources, year ended October 31, 1929 246, 247
No. 9. Number and capital of State banks converted into national bank- ing associations in each State and Territory from 1863 to Octo- ber 31, 1929 248
No. 10. Conversions of State banks and primary organizations as national banks from March 14, 1900, to October 31, 1929 248
No. 11. Number of national banks increasing their capital, together with the amount of increase monthly for years ended October 31, since 1924 249
No. 12. Number and authorized capital of national banks chartered and the number and capital stock of banks closed in each year ended October 31, since 1913, with yearly increase or decrease 249
No. 13. Total number of national banks organized, consolidated under act of November 7, 1918, insolvent, in voluntary liquidation, and in existence on October 31, 1929 250
No. 14. Changes of corporate title of national banks, year ended October 31, 1929 251, 252
No. 15. Changes of corporate title incident to consolidations of national banks, and of State banks with national banks, year ended October 31, 1929 253, 254
No. 16. National banks chartered during year ended October 31, 1929._ 254-258 No. 17. National banks chartered which are conversions of State banks
during year ended October 31, 1929 258 No. 18. National banks, by States and geographical divisions, organized,
failed, and reported in voluntary liquidation during year ended October 31, 1929 259
No. 19. Number and classification of national banks chartered monthly during year ended October 31, 1929 . 260
No. 20, Principal items of resources and liabilities of national banks classified according to capital stock, December 31, 1928 260-268
No. 21. United States bonds on deposit to secure circulating notes of national banks in years ended October 31, 1900 to 1929 269
No. 22. Profit on national-bank circulation, based upon deposit of $100,000 United States consols of 1930, etc., at the average net price, monthly, during year ended October 31, 1929 270
No. 23. Investment value of United States bonds—Panama Canal bonds and 2's of 1930 271
No. 24. United States bonds (circulation)—Monthly range of prices in New York, November, 1928, to October, 1929, inclusive. 271
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CONTENTS VII
Page No. 25. Number, capital stock, and circulation outstanding of national
banks issuing circulating notes, together with, number and capital stock of national banks not issuing circulating notes, June 29, 1929, by reserve cities and States 272, 273
No. 26. National-bank notes issued, redeemed, and outstanding, by de- nominations and amounts, on October 31, each year, 1918 to 1929 274
No. 27. National-bank currency issued to banks monthly from November 1, 1928, to October 31, 1929, and since 1863 275
No. 28. National-bank notes received monthly for redemption during year ended October 31,1929 275
No. 29. National-bank notes received at currency bureau and destroyed yearly since establishment of system 276
No. 30. National-bank notes issued and destroyed, etc., account of active, insolvent, and liquidated banks, years ended October 31, 1914 to 1929 276
No. 31. Amount, denomination, and cost of national-bank currency re- ceived from Bureau of Engraving and Printing, year ended October 31, 1929 277
No. 32. Vault account of currency received and issued by currency bureau during year and amount on hand October 31, 1929 277
No. 33. Vault account of currency received and destroyed during year ended October 31, 1929 _" 277
No. 34. Amount of currency received for redemption, by months, from July 1, 1928, to June 30, 1929, and counted into the cash of the National Bank Redemption Agency 278
No. 35. Amount of currency received by National Bank Redemption Agency for redemption in year ended June 30, 1929, from principal cities . 278
No. 36. Cost of redemption of national-bank notes during year ended June 30, 1929 , 278
No. 37. Classification of Federal reserve currency redemptions, amount re- deemed, number of notes, cost of redemption per 1,000 notes, and amount assessed upon Federal reserve banks, year ended June 30, 1929 1 279
No. 38. Taxes assessed on national-bank circulation, years ended June 30, 1864 to 1929; cost of redemption, 1874 to 1929; and assess- ments for cost of plates, etc., 1883 to 1929 280
No. 39. Federal reserve notes outstanding according to weekly state- ments (amount issued by Federal reserve agents to Federal reserve banks, less "unfit" notes redeemed), and collateral security therefor, from November 7, 1928, to October 30, 1929. _ 281
No. 40. Federal reserve notes, segregated by series, printed, shipped, and canceled, issued to banks, retired, and destroyed since organiza- tion of the banks, with balance in vaults and amount outstand- ing October 31, 1929 282-284
No. 41. Aggregate amount of Federal reserve bank notes printed, issued, canceled, and redeemed, by denominations, since inauguration of the Federal reserve system, and amount on hand and out- standing October 31, 1929 284
No. 42. Taxes assessed on Federal reserve bank currency, cost of redemp- tion, and cost of plates, years ended June 30, 1915 to 1929 285
No. 43. National banks in charge of receivers during year ended October 31, 1929, capital at date of organization and at date of failure, causes of failure, dividends paid while solvent, and circulation outstanding, etc 286-299
No. 44. National banks in charge of receivers, dates of organization, appointment of receivers, and closing, with amounts of nomi- nal and additional assets, amounts collected from all sources, loans paid, losses on assets, expenses of receiverships, claims proved, etc., to October 31, 1929 300-331
No. 45. National banks restored to solvency after having been placed in charge of receivers 332, 333
No. 46. Dividends paid to creditors of insolvent national banks during year ended October 31, 1929 . 333-338
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VIII CONTENTS
Page No. 47. Dates of reports of condition of national banks from 1914 to
1929 339 No. 48. Condition of foreign branches of National City Bank and Chase
National Bank, of New York, N. Y., and- First National Bank of Boston, Mass., on June 29, 1929 340-345
No. 49. Number, capital stock paid in, circulation outstanding, and aggregate resources of national banks at date of each report from February 21, 1921, to October 4, 1929, money in the United States, June 30, each year, etc 346
No. 50. Abstract of reports of condition of national banks in the central reserve cities of New York and Chicago, in other reserve cities, and elsewhere, October 4, 1929 347
No. 51, Abstract of reports of condition of national banks in central re- serve and other reserve cities and country banks at date of each call during year ended October 31, 1929 348-351
No. 52. Classification of amounts "due from" and "due t o " banks re- ported by national banks, according to reserve cities and States, at date of each call during year ended October 31, 1929 352-367
No. 53. Classification and demand and time deposits in national banks, according to reserve cities and States, at date of each call during year ended October 31, 1929 „___ 368-383
No. 54. Classification of bills payable and rediscounts of national banks according to reserve cities and States, at date of each call during year ended October 31, 1929 _' 384-393
No. 55. Classification of cash in vaults of national banks, according to reserve cities and States, at date of each call during year ended October 31, 1929 1 394-397
No. 56. Gold and silver coin, certificates, legal tenders, and other cur- rency held by national banks at date of each report from February 21, 1921, to October 4, 1929 398
No. 57. Gold, etc., held by national banks in the central reserve city of New York at date of each report from February 21, 1921, to October 4, 1929 399
No. 58. Reserve computation of national banks, according to reserve cities and States, at date of each call during year ended October 31, 1929 400-415
No. 59. Abstract of reports of condition of national banks, at date of each report from February, 1920, to October, 1929 416-425
No. 60. Abstract of reports of condition of national banks, according to reserve cities and States, at date of each call during year ended October 31, 1929 427-543
No. 61. Abstract of reports of condition of national banks in each Federal reserve district at date of each call during year ended October 31, 1929 544-549
No. 62. Classification of loans and discounts of national banks according to reserve cities and States December 31, 1928 550-553
No. 63. Classification of United States Government securities owned by national banks, according to reserve cities and States, December 31, 1928 554,555
No. 64. Classification of investments of national banks, according to re- serve cities and States,…