Year ended BANKING STATISTICS. [From reports of the comptroller of the currency.] Banks. Capital. Surplus. Total dividends. Net earnings 7,453 $1,063,978,175 $714,117,131 $121,147,096 $149,270.170 7,560 1,068,577,080 726,620,202 113.639.415 127.052.973 157.543.547 194.321.000 287,705,000 135.588.000 299.980,000 282,083,000 158,158,000 216,106,000 8.46 ..... 8.238 1,307,199.000 1.049.228.000 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 First National. Boston, Mass.. 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 28,039,800 27.296,000 87.500 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. 5.000.000 State (etc.) banks. 30,072,300,000 107.900.000 Federal reserve banks.. 5.018.100.000 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): FEDERAL LAND BANKS. Assets and liabilities Oct. 31, 1923. 221 San Bernardino, Cal.; 1922; Brotherhood Trust $775,311,855.98 Trust Co.: State Federation of Labor and 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 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. 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 TOTAL RESOURCES AND LIABILITIES. ALL Hammond. Ind.; 1921: People's Co-Operative State banks....$2.462.929 000 $11.130.142.000 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 Minnesota Mississippi Missouri 2.900.729 63.134 Massachusetts Montana Country. Argentina Austria Austria 2.101,540 250 218.547 113.997.098 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. 21. 1922..Com. and private. Depositors. 2.438.124 New Mexico.. 13 5.200 2,170,000 Arizona 1.415.308 Vermont 8 1.955 818.521 Other states.... 2.718.120 Dec. 31, 1920..Com. and trustee. .Dec. 31, 1918..Com. and private United kingdom. Nov. 20. 1920 Trustee Canada Mar. 31. 1920. .Postal Mar. 31. 1922..Government Un. S. Africa... Mar. 31, 1921. Postal Brit col. n.e.s... 1919-1920 Total foreign.. 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 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. Ore (copper)..... .Scandinavia Para (silver)....... Turkey Penny (copper).....Great Britain.. Perper (gold)......Montenegro Peseta (gold).....Spain Peso (gold) .Argentine Republic.. Peso (gold) Chile .Colombia .0025 .001 .020 .203 .193 .965 .365 .973 Yen (gold) Japan .498 Cuba 1.000 ..Guatemala .494 194 .398 .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. 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 |