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Annual Report of the Comptroller of the Currency 1934

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Text of Annual Report of the Comptroller of the Currency 1934

Annual Report of the Comptroller of the Currency 1934OCTOBER 31, 1934
WASHINGTON : 1935
For sale by the Superintendent of Documents J^ashington, D.C. Price. $1.50 (Cloth)
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TREASURY DEPARTMENT
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Page Submission of the report 1 Discussion of conditions incident to the banking holiday 1-7 Suggestions for legislation 7-15 National banks in the trust field:
Statement relative to 17, 18 Fiduciary activities of, during year ended June 30, 1934, segregated
according to capital 19, 20 Fiduciary activities of, during year ended June 30, 1934, segregated
according to population of places in which banks were located 20-23 Fiduciary activities of, by Federal Reserve districts, June 30, 1934__ 24 Classification of investments in living and court trust accounts under
administration by the active national-bank trust departments, on June 30, 1934, segregated according to capital of banks and popu- lation of places in which banks were located 25
Classification of investments in living and court trust accounts under administration by the active national-bank branches with trust departments on June 30, 1934, segregated according to population of places in which branches were located 26
Fiduciary activities of branches of national banks during year ended June 30, 1934, segregated according to population of places in which branches were located 27, 28
National-bank failures: Statement relative to 29-31 Receiverships, year ended October 31, 1934 31, 32 Receiverships, 1865-1934 33, 34 Active receiverships as of October 31, 1934 34, 35 Receiverships terminated, year ended October 31, 1934 35, 36 Receiverships terminated, 1865-1934 36, 37 Total liquidation operations, year ended September 30, 1934 37, 38 Summary showing progress and results of liquidation of all national
banks placed in charge of receivers from 1865 to October 31, 1934.- 38, 39 Capital, date of appointment of receiver, and percent of dividends paid
by insolvent national banks, the affairs of which were closed or restored to solvency during year ended October 31, 1934 40-42
State bank failures in the District of Columbia: Receiverships, year ended October 31, 1934 43, 44 Active receiverships as of October 31, 1934 44
Unlicensed national banks: Status as of March 16, 1933 44, 45 Administration of unlicensed national banks, January 1 to October 31,
1934 45,46 Administration of unlicensed national banks, March 16,1933, to Octo-
ber 31, 1934 47, 48 Organization and liquidation of national banks, year ended October 31,
1934, and since establishment of system 49-51 Organization of banks other than national in District of Columbia:
Industrial Bank of Washington 51 Executive order authorizing formation of Export-Import Bank of
Washington 51-53 Executive order authorizing formation of Second Export-Import Bank
of Washington, D. C 53-55 Branches of national banks:
Statement relative to 55 Number and kind of branches on February 25, 1927, and number and
manner of acquisition of additional branches, by years to close of October 31, 1934 56
Number and kind of branches authorized and closed during year ended October 31, 1934 56
in
rv CONTENTS
Branches of national banks—Continued. Page Number and manner o:: acquisition of domestic branches during year p
ended October 31, 1£34, by States 57, 58 Number and class of domestic branches closed during year ended Octo-
ber 31, 1934, by States 59, 60 National-bank circulation:
Statement relative to 60, 61 Statement of capital stock of national banks, national-bank notes,
and Federal Reserve oank notes outstanding, bonds on deposit, etc., July 2, 1934 61, 62
Bond transactions relative to, year ended October 31, 1934 62, 63 Banks issuing and not :ssuing circulation June 30, 1934 63
Redemption of national and Federal Reserve bank circulation, year ended June 30, 1934 64
Condition of national banks at date of each call during year ended October 31, 1934 64-66
Principal items of assets and liabilities of national banks, October 17, 1934_ 67, 68 National-bank liabilities on account of bills payable and rediscounts at
date of each call during year ended October 31, 1934 69 Loans and discounts of national banks:
Classification of, June 30, 1932, 1933, and 1934 70 Classification of, by reserve cities and States, June 30, 1934 71-75 Comparative statement of, as of June 30, for the last 3 years, in
central reserve and other reserve cities, all reserve cities and elsewhere 76
Comparative changes in demand and time deposits, loans and discounts, United States Government and other bonds and securities owned, and the amount of reserve of national banks with Federal Reserve banks since June 30, 1930 76
United States Government securities and securities guaranteed by United States as to interest and/or principal, reported by licensed national banks:
Classification of, by reserve cities and States, June 30, 1934 77-81 Investments of national banks:
Comparison of, June 30, 1932, 1933, and 1934 82 United States Government, domestic, and foreign bonds, securities, etc.,
held by licensed national banks: Classification of, by reserve cities and States, June 30, 1934 83-87
Earnings and dividends of national banks: Summary of, year ended June 30, 1933, and 6 months ended December
31, 1933 . 88-89 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 owned and loans and discounts, years ended June 30, 1918 to 1933, and 6 months ended December 31, 1933__ 89
Number of national banks, capital, surplus, net addition to profits, divi- dends, and percentage radios, 'years ended June 30, 1914 to 1933, and 6 months ended December 31, 1933 90
National banks classified according to capital stock, December 30, 1933: Number, loans and discounts, investments, total assets, capital, sur-
plus and undivided profits, circulation outstanding and total deposits of 91
Federal Reserve banks: Assets and liabilities of the 12 Federal Reserve banks combined, as of
the last weekly statement date in October 1932 to October 1934 91 Principal assets and liabilities of the 12 Federal Reserve banks com-
bined, on the last weekly statement date in each month, from January 1932 to October 1934 92
New York Clearing House: Statement relative to transactions of, year ended September 30, 1934_ 93
Clearing-house associations in the 12 Federal Reserve bank cities and else- where:
Statement relative to transactions of, year ended September 30, 1934_ 93
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CONTENTS V
All active licensed banks, June 30, 1934: Page Summary of reports of condition of, by classes of banks 94-96 Assets and liabilities of, by States 97-105* Assets and liabilities of, June 30, 1930 to 1934 106 Principal items of assets and liabilities of, in the continental United
States, as compared with similar data for member banks of the Federal Reserve System 107
Per capita demand and time and savings deposits, by States 107, 108 Savings desposits and depositors, according to classes of banks, by
States 109-114 National banks, assets and liabilities of, June 30, 1930 to 1934 115 Banks other than national:
List of officials of State banking departments and number of each class of licensed banks under their supervision in June 1934, from which reports of condition were received 116, 117
Assets and liabilities of, June 30, 1930 to 1934 118 State (commercial), assets and liabilities of, June 30, 1930 to 1934__. 119 Loan and trust companies, assets and liabilities of, June 30, 1930 to
1934 120 Stock savings:
Assets and liabilities of, June 30, 1930 to 1934 121 Number of savings depositors, amount of savings deposits, and
average deposit account, by States, June 30, 1933 and 1934_. 122 Mutual savings:
Assets and liabilities of, June 30, 1930 to 1934 123 Number of savings depositors, amount of savings deposits, and
average deposit account, by States, June 30, 1933 and 1934__ 124 Stock and mutual savings, number of savings depositors, amount of
savings deposits, and average amount due each depositor, June 30, 1914 to 1934 . 125
Private: Assets and liabilities of, June 30, 1930 to 1934 126 Statement relative to, not under State supervision, and required
under section 21 (a) of the Banking Act of 1933 to report to Comptroller-. 126, 127
Banks in District of Columbia: Assets and liabilities of, by classes, June 30, 1934 127-129 Assets and liabilities of national banks in, June 30, 1930 to 1934 130 Assets and liabilities of loan and trust companies in, June 30, 1930 to
1934 131 Assets and liabilities of savings and State banks in, June 30, 1930 to
1934 132 Number of depositors and amount of deposits in, according to size and
class of deposit balances, October 25, 1933 132, 133 Dormant accounts, etc., in, October 25, 1933 133 Earnings and dividends of, other than national, 6-month periods
ended December 31, 1933, and June 30, 1934, and comparison of, in years ended June 30, 1933 and 1934 134, 135
Building and loan associations in District of Columbia: Statement relative to 135 Number of, loans, installments on shares, and total assets, years
ended June 30, 1914 to 1934 136 Credit unions in District of Columbia, list of 136, 137 Export-import banks in—
Statement relative to 137 Assets and liabilities of, October 17, 1934 138
Building and loan associations in the United States: Statistics relative to, by States, year ended 1933 138, 139 Mortgage loan investments held by, in 1932 and 1933, by States 139 Failures of, each year, 1920 to 1933 140
Money in the United States: Stock of, years ended June 30, 1914 to 1934 140 Imports and exports of merchandise, gold and silver, calendar years
1914 to 1933, and from January 1 to September 30, 1934 141,142 Governmental corporations and credit agencies of the United States, con-
solidated statement of assets and liabilities of, September 30, 1934 143, 144 Reconstruction Finance Corporation, statement of condition of, September
30 1934 145-148 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
VI CONTENTS
Farm Credit Administration: Page Consolidated statement of condition of, October 31, 1934 149, X50 Federal land banks, consolidated statement of condition of, Sep-
tember 30, 1934 150 Federal intermediate credit banks, consolidated statement of con-
dition of, September 30, 1934 151 Joint-stock land banksi, statement relative to 151, 152
Federal Home Loan Bank System: Consolidated statement of assets and liabilities of, October 31,1934_ 152, 153 Home Owners' Loan Corporation, summary of operations of, from
date of organization to close of business November 29, 1934 153, 154 Federal Deposit Insurance Corporation:
Preliminary condensed balance sheet, June 30, 1934 154 Preliminary condensed statement of net operating expenses and losses
to June 30, 1934 155 Preliminary statement of statistical data, with respect to 155 Insured accounts and insured deposits, by States, for insured com-
mercial banks as of October 1, 1934 156 Preliminary summary of certified statements to, as of October 1,1934_ 157
Number of depositors and amount of deposits in national banks, according to size and class of deposit balances, October-25,1933 158-160
Dormant accounts, etc., in national banks, October 25, 1933 158-160 Pacific National Agricultural Credit Corporation, statement of assets and
liabilities of, October 17, 1934 160 United States Postal Savings System:
Statistics relative to activities of, years ended June 30, 1933, and 1934 161-166
School savings banking: Statistics relative to, in each State, in school years 1932-33 and
1933-34, and summary each school year since 1919-20 167, 168 Expenses of the Currency Bureau:
Summary of, in the fiscal year ended June 30, 1934 169
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APPENDIX TABLES
Page No. 1. Comptrollers and Deputy Comptrollers of the Currency 173 No. 2. Names and compensation of officers and clerks in the Office of the
Comptroller of the Currency, October 31, 1934 173-175 No. 3. Number of national banks organized since February 25, 1863,
number passed out of the system, and number in existence October 31, 1934 175
No. 4. Authorized capital stock of national banks on the first day of each month from January 1, 1930, to November 1, 1934, United States bonds on deposit to secure circulation, circulation se- cured by bonds on deposit, the amount of lawful money on de- posit to redeem circulation, and national-bank notes outstand- ing 176
No. 5. National banks reported in liquidation from November 1, 1933, to October 31, 1934, the names, where known, of succeeding banks in cases of succession, with date of liquidation and capi- tal 177-185
No. 6. Capital stock, surplus, undivided profits, and total assets of banks consolidated under act of November 7, 1918, as amended Feb- ruary 25, 1927, and June 16, 1933, for the year ended October 31, 1934, as shown by their last reports prior to consolidation._ 186
No. 7. National banks consolidated under act of November 7, 1918, as amended June 16, 1933, capital, surplus, undivided profits, and total assets, year ended October 31, 1934 187
No. 8. State banks and national banks consolidated under act of Feb- ruary 25, 1927, as amended June 16, 1933, their consolidated capital, surplus, undivided profits, and total assets, year ended October 31, 1934 188
No. 9. Number and capital of State banks converted into national bank- ing associations in each State and Territory from 1863 to Oc- tober 31, 1934 189
No. 10. Conversions of State banks and primary organizations as national banks from March 14, 1900, to October 31, 1934 189
No. 11. Number of national banks increasing their capital, together with the amount of increase monthly for years ended October 31, since 1929 190
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 191
No. 13. Total number of national banks organized, consolidated under act of November 7, 1918, as amended June 16, 1933, insolvent, in voluntary liquidation, and in existence on October 31, 1934__ _ 191, 192
No. 14. Changes of corporate title of national banks, year ended October 31, 1934 192, 193
No. 15. Changes of corporate title incident to consolidations of national banks and of State banks with national banks, year ended October 31, 1934 193
No. 16. National banks chartered during year ended October 31, 1934... 193-202 No. 17. National banks for which increase of capital has been authorized,
under act March 9, 1933, as amended, by the issuance of pre- ferred stock which was purchased by the Reconstruction Finance Corporation unless otherwise noted, together with the amount of increase and the rate of dividend, etc., to close of business October 31, 1934 202-236
VII
VIII CONTENTS
No. 18. National banks chartered which are conversions of State banks during year ended October 31, 1934 236
No. 19. National banks, by States and geographical divisions, organized, failed, and reported in voluntary liquidation during year ended October 31, 1934 237-239
No. 20. Number and classification cf national banks chartered monthly during year ended October 31, 1934 240
No. 21. Principal items of assets and liabilities of licensed national banks, classified according to capital stock, December 30, 1933 240-248
No. 22. Number and deposits of licensed national banks at close of busi- ness May 13, 1933, by Federal Reserve districts 249-251
No. 23. Number of depositcrs and amount of deposits of licensed national banks, grouped according to size and class of total balances, October 25, 1933 252-271
No. 24. United States bonds on deposit to secure circulating notes of national banks on October 31, 1910 to 1934 272, 273
No. 25. Profit on national-bank note circulation, based upon a deposit of $100,000 United States consols of 1930, and Panama Canal loan, at the average net price, monthly, during year ended October 31, 1934 274
No. 26. Investment value of United States bonds—Panama Canal bonds and 2's of 1930 275
No. 27. United States bonds—Monthly range of prices in New York, November 1933 to October 1934 275
No. 28. Number, capital stock, and circulation outstanding of licensed national banks issuing circulating notes, together with the number and capital stock of national banks not issuing circulat- ing notes, June 30, 1934, by Reserve cities and States 276-278
No. 29. National-bank notes issued, redeemed, and outstanding, by denominations and amounts, on October 31, each year, 1931 to 1934 279
No. 30. National-bank currency issued to banks monthly from November 1, 1933, to October 31, 1934, and since 1863 280
No. 31. National-bank notes received monthly for redemption during year ended October 31, 1934 ., 280
No. 32. National-bank notes received at Currency Bureau and destroyed since establishment of System 281
No. 33. National-bank notes issued during each year 1914-34, national- bank notes of active, insolvent, and liquidated banks destroyed, total destructions for each year, and percentage of destructions to issues 281
No. 34. Amount, denomination, and cost of national-bank currency received from Bureau of Engraving and Printing, year ended October 31, 1934 282
No. 35. Vault account of currency received and issued by Currency Bureau during year, and the amount on hand October 31, 1934_ 282
No. 36. Vault account of currency received and destroyed during year ended October 31, 1934 282
No. 37. Amount of currency received for redemption, by months, from July 1, 1933, to June 30, 1934, and counted into the cash of the National Bank Redemption Agency 282
No. 38. Amount of currency received, by the National Bank Redemption Agency for redemption in year ended June 30, 1934, from prin- cipal cities 283
No. 39. Cost of redemptior. of national-bank notes during year ended June 30, 1934 283
No. 40. Classification of Federal Reserve currency redemptions, the amount redeemed, number of notes, cost of redemption per 1,000 notes, and a.mount assessed upon Federal Reserve banks, year ended June 30, 1934 283,284
No. 41. Taxes assessed on national-bank circulation, years ended June 30, 1864-1934; cost of redemption, 1874-1934; and assessments for cost of plates, etc., 1883-1934 284
No. 42. Federal Reserve notes outstanding according to weekly statements (amount issued by Federal Reserve agents to Federal Reserve banks less notes redeemed), and collateral security therefor, from November 1, 1933, to October 31, 1934 285
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CONTENTS IX
No. 43. Federal Reserve notes, segregated by series, printed, shipped, and Page canceled, issued to banks, retired, and destroyed since organiza- tion of the banks, with the balance in vaults and amount out- standing October 31, 1934 286-288
No. 44. Aggregate amount of Federal Reserve bank notes, old series, printed, issued, canceled, and redeemed, by denominations, since the inauguration of the Federal Reserve System, and amount outstanding, October 31, 1934 288
No. 44-A. Aggregate amount of Federal Reserve bank notes, series 1929, printed, shipped, and on hand; issued, retired, and outstand- ing; received for destruction by denominations, during period March 9, 1933, to October 31, 1934, under the terms of section 18, Federal Reserve Act, as amended March 9, 1933 289
No. 45. National banks in charge of receivers during year ended October 31, 1934, dates of organization and appointment of receivers, capital at date of organization and at date of failure, dividends paid while solvent, lawful money deposited with Treasurer of the United States to redeem circulation to October 31, 1934, cir- culation outstanding, borrowed money, and total deposits at date of failure 290-331
No. 45-A. District of Columbia State chartered banks and banks incor- porated under the laws of the District of Columbia, under the supervision of the Comptroller of the Currency, in charge of receivers during year ended October 31, 1934, dates of organi- zation and appointment of receivers, capital at date of organi- zation and at date of failure, dividends paid while solvent, borrowed money and total deposits at date of failure 332
No. 46. National banks in charge of receivers during year ended October 31, 1934, dates of appointment of…