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Year ended
July 1.

BANKING STATISTICS.

[From reports of the comptroller of the currency.]
NATIONAL BANKS OF THE UNITED STATES.

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Banks.

Capital.

Surplus. Total dividends. Net earnings 7,453 $1,063,978,175 $714,117,131 $121,147,096 $149,270.170

7,560 1,068,577,080

726,620,202 113.639.415
7,579 1,066,208,875 731,820,305 114.724.595
7,589 1,081,670,000 765.918,000
7,691 1,098,264,000 816,801,000 129.778,000
7.762 1.115,507,000 869,457,000

127.052.973 157.543.547

194.321.000

287,705,000

135.588.000

299.980,000

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282,083,000

158,158,000

216,106,000

8.46

.....

8.238

1,307,199.000 1.049.228.000
1,328.791.000 1,070,600,000

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NATIONAL BANKS WITH LARGEST

CAPITAL.

The national banks having $5,000,000 or Twenties more capital in 1923 were: Fifties

National City, New York, N. Y.. $40.000.000 One hundreds
Bank of Commerce, New York 25.000.000 Five hundreds
Continental and Comm'l, Chicago 25.000.000 One thousands
Chase, New York, N. Y.
20.000.000 Fractions
15.000.000

First National. Boston, Mass..
First National of Chicago, Ill.... 12.500.000
Irving, New York, N. Y.
12,500,000
Chatham and Phoenix. New York 10,500.000
First National, New York, N. Y.. 10.000.000
National Bank of Com... St. Louis 10.000.000
Shawmut. Boston. Mass..
10.000.000
First National, St. Louis, Mo.. 10,000,000
Mechanics and Metals. New York 10.000.000
National Park, New York, N. Y. 10.000.000
Bank of California, San Francisco
Mellon National, Pittsburgh, Pa.
Wells Fargo-Nevada, San Francisco
First National, Cincinnati, Ohio....
Farmers' Deposit. Pittsburgh.
First National, Milwaukee, Wis..
First National. Minneapolis, Minn.
American Exchange, New York..
First National. Detroit. Mich....
Anglo and London, San Francisco..
Corn Exchange, Chicago, Ill..
Philadelphia, Philadelphia..
Third National, Pittsburgh, Pa.....

NATIONAL BANK NOTES.

8.500.000 7.500.000 6.000.000 6.000.000 6.000.000 6.000.000 5,000.000 5,000.000 5.000.

Total ....

$476,357,420 $323.714.810

297.251.840 248,807.110

68.199,350
65,537,150
86,500

28,039,800

27.296,000

87.500

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The banking power of the United States on June 30, 1923, represented by the combined paid-in capital, surplus and profits, deposits and circulation of all reporting banks, includ ing national and state, nonreporting private banks (estimated) and the twelve federal reserve banks was $53,282.800.000, which was $3,107,500,000 greater than the total banking power June 30, 1922.

The following table shows the total of the capital paid in, surplus and profits, deposits and circulation of the banks of the United States, national. state, private and federal 5.000.000 reserve, as of June 30, 1923, or report date 5.000.000 nearest thereto:

Outstanding on Oct. 31 of years named.

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5.000.000

State (etc.)

banks.

30,072,300,000

107.900.000

Federal reserve banks..

5.018.100.000

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The following table shows the development auguration on Nov. 16. 1914, to Oct. 31. 1923 of the federal reserve system from its in- (in thousands of dollars):

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FEDERAL LAND BANKS. Assets and liabilities Oct. 31, 1923.

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221

San Bernardino, Cal.; 1922; Brotherhood Trust
& Savings bank; railroad workers: $200,000.
Tuscon, Ariz.; 1922; Co-Operative Bank &
Trust Co.: various labor groups: $70,000.
Birmingham, Ala.: 1922: Federated Bank &

$775,311,855.98
14.251.439.42
60.097.380.68
267.167.59
107.384.47 Spokane, Wash.; 1923; Brotherhood Co-Opera-
285.674.55 tive National Bank of Spokane; railroad
unions: $200,000.

Trust Co.: State Federation of Labor and
state locals of Brotherhood of Locomotive
Engineers; $125,000.

24.708.604.89

2,183,259.85 St. Louis, Mo.: 1923: Telegraphers' National Telegraphers;

1.268.647.41

.....

1,421,948.99

Accounts receivable

Installments matured

Furniture and fixtures...

banking

Other assets

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bank:

Order of

$500,000.

Railway

209.156.59 Harrisburg, Pa.: 1923: Fraternity Trust Co.: 1,558.168.48 railroad brotherhood and other unions: 881.670.688.80 $200,000.

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JOINT STOCK LAND BANKS. The consolidated statement of condition of the joint stock land banks at the close of business Oct 31, 1923, showed total assets of $422.324.000, of which $382.225.000 was mortgage loans. $17,303,000 United States bonds and securities and $11.226.000 cash on

hand and in banks. The capital of these banks was $32,506,000, with a paid-in surplus of $1,210,000 reserve and surplus (from earnings). $2,190,000; undivided profits $1,092.000; farm loan bonds outstanding. $340,154,000, and notes payable. $32,722,000.

LABOR BANKS IN THE UNITED STATES. Labor organizations in the United States have since 1920 established more than a score of national banks, savings banks and trust companies, the capital being supplied from the funds held by various unions, brotherhoods and other labor bodies. The following list, with some minor omissions, was printed in the Monthly Labor Review of the United States department of labor for February, 1924. Location, year of establishment, name of bank, name of organizing or trolling body and amount of capital are given in the order mentioned. Washington, D. C.: 1920; Mount Vernon Savings bank: International Association of Machinists: $160.000.

con

Cleveland, O.: 1920: Engineers' Co-operative National bank: Brotherhood of Locomotive Engineers: $1,000.000.

Cincinnati, O.;

1923: Brotherhood of Railway Clerks' National bank; Brotherhood of Railway and Steamship Clerks: $200,000. Minneapolis, Minn.: 1923; Transportation Brotherhood National bank; railroad workers: capital not given. Pittsburgh, Pa.: 1923; Brotherhood Savings & Trust Co.; labor leaders; $125,000. New York, N. Y.; 1923: Federation Trust Co.: Central Trades and Labor Council and New York State Federation of Labor. $1.000.000.

New York, N. Y.; 1923: Amalgamated Bank of New York: Amalgamated Clothing Workers of America: $200,000.

Potomac, Va.: 1923: Potomac Trust Co.: railroad unions: $25,000.

New York. N. Y.; 1924: International Union bank: International Ladies' Garment Workers' union: $250,000.

Tacoma, Wash.: 1924; Co-Operative National
Bank of Tacoma: railroad
$240,000.
brotherhoods:

TOTAL RESOURCES AND LIABILITIES. ALL
BANKS. JUNE 30. 1923.
Resources.

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Hammond. Ind.; 1921: People's Co-Operative State banks....$2.462.929 000 $11.130.142.000
State bank: Brotherhood of Locomotive
Engineers: $50.000.
Chicago, Ill.: 1922: Amalgamated Trust &
Savings bank: Amalgamated Clothing Work-
ers of America: $200,000.

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15.353.000 .11.621.778.000 3.507,510.000

131.666.000

25.990.735.000 14.043 460.000

Grand total..15.129,288,000 40,034,195,000

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Minnesota

Mississippi

Missouri

2.900.729
1.223,265

63.134

Massachusetts

Montana

Country.

Argentina

Austria

Austria

2.101,540
577.431
35.066
1.765.083 2.702.888

250 218.547 113.997.098

1.257.381 1,304,490 Total ........10.009 6.684.144 3.342.530.853

SAVINGS BANKS OF PRINCIPAL COUNTRIES.

Form of bank.

Date.
Dec. 31, 1921..Postal

..Dec. 21. 1922..Com. and private.
Dec. 31. 1921..Postal

Depositors.
473,782

2.438.124

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New Mexico..

13

5.200

2,170,000

Arizona

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1.415.308

Vermont

8

1.955

818.521

Other states....

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2.718.120

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Dec. 31, 1920..Com. and trustee.
.Dec. 31, 1921..Postal

.Dec. 31, 1918..Com. and private

United kingdom. Nov. 20. 1920 Trustee
United kingdom. Dec. 31, 1921..Postal
British India.... Mar. 31, 1921. Postal
Australia ... Dec. 31, 1922.. Gov. and private.
New Zealand..... Mar. 31. 1922..Postal
New Zealand. Mar. 31, 1922.. Private
Canada

Canada

Mar. 31. 1920. .Postal

Mar. 31. 1922..Government

Un. S. Africa... Mar. 31, 1921. Postal
Brit. W. Indies. 1919-1920

Brit col. n.e.s... 1919-1920

Total foreign..

Government
..Government

United States.... June 30. 1923..Postal

2.587.947 2,261,849 17.717.940 1,877,957 3.491,755

United States.... June 30. 1923..Mutual and stock. 13.340,332
Philippines
June 30. 1923..Postal

Grand total..

158.557 .116.128 926 14.701.986,590 Note. The foreign currencies converted at their approximate exchange value the report. *Average per deposit accounts.

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Ore (copper)..... .Scandinavia

Para (silver)....... Turkey

Penny (copper).....Great Britain..

Perper (gold)......Montenegro Peseta (gold).....Spain

Peso (gold)

.Argentine Republic..

Peso (gold)

Chile

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.Colombia

.0025 .001 .020 .203 .193 .965 .365 .973

Yen (gold)

Japan

.498

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Cuba

1.000

..Guatemala

.494

194

.398

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.498 .965 .500 1.034 .0025 .550 .534 .030 .044 4.943

*Coins in the foregoing table marked with an asterisk (*) are those the value of which has been estimated by the director of the mint. The tael is a unit of weight, not a coin. The customs unit is the Haikwan tael (value $0.7570). The values of other taels are based on their relation to the Haikwan tael. The Yuan silver dollar of 100 cents is the monetary unit of the Chinese republic; it is equivalent to 0.644 plus of the Haikwan tael.

Note-At the beginning of each quarter the secretary of the treasury proclaims the estimate by the director of the mint of the pure metal contents of foreign coins in terms of the money of account of the United States. to be followed in estimating the value of all foreign merchandise exported to the United States during the quarter, expressed in any such metallic currencies. It is not the exchange value.

MONEY IN CIRCULATION IN THE UNITED STATES JULY 1, 1924.

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The population of continental United States on July 1, 1924, was estimated at 112,568.000; July 1, 1923, 111,268.000: July 1, 1914. 99,027,000; Jan. 1, 1879, 48,431,000.

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 beld in the treasury for their redemption; United States notes are secured by a gold reserve of $152,979,025.63 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

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