Deposits aggregating $134,410,299.86 are classified as follows: Subject to check without notice, $67,575,995.26; demand certificates of deposit, $18,187,693.43; savings deposits, $18,092,555.77; time certificates of deposit, $30,199,930.70, and certified checks and cashiers' checks outstanding, $354,124.70.

DIVIDENDS PAID BY STATE AND PRIVATE BANKS.

Information relative to the amount and per cent of dividends paid during the year ended with June, 1915, is furnished by 10,050 of the 19,457 State and private banks that submitted reports of their condition. The capital of the 10,050 banks aggregated $780,060,326, on which dividends were paid to the amount of $88,654,050, or an average of 11.37 per cent. The average rate paid by the 7,665 State (commercial) banks was 10.38 per cent. As will be noted elsewhere in this report, the average rate paid by national banks is nearly the same (10.36) as that paid by these commercial State banks.

In the table following is shown the number of each class of banks from which information was received relating to the payment of dividends, together with their capital and the amount and per cent of the dividends paid:

Dividends paid on capital by banks other than national, year ended June 23, 1915.

REPORTS OF CONDITION OF ALL BANKS IN THE UNITED STATES.

A summary of the statements of condition of 27,062 reporting banks in the United States and island possessions for June, 1915, including national, State, savings, and private banks, and loan and trust companies shows capital of $2,162,841,369.93 and aggregate resources of $27,804,129,677.56.

In the weekly statement published by the Federal Reserve Board, showing the condition of the Federal reserve banks as of June 25, 1915, the capital of these banks is stated at $54,200,000 and the resources at $381,456,000.

By consolidating the figures for the 12 Federal reserve banks with statistics of all other reporting banks it will be noted that the aggregate resources of the banks of the country approximate the sum of $28,185,585,000, with an approximate total capitalization of $2,217,041,000.

There are about 3,000 banking institutions in the country from which no reports can be obtained, about 95 per cent being private banking concerns. A careful estimate, based on returns received

from private banks, indicates that the capital of these nonreporting banks amounts to $59,500,000 and the resources to $515,000,000.

The aggregate banking resources of the country, actual and estimated, would therefore appear to be over $28,700,000,000.

The following statement shows the principal items of resources and liabilities of 27,062 reporting banks, including national, State, savings, private banks, and loan and trust companies, from reports of condition at close of business June 23, 1915, together with a summary of reports of condition of the 12 Federal reserve banks as of June 25, 1915.

Statement showing the principal items of resources and liabilities of 27,062 reporting banks in the United States and island possessions (including national, State, savings, and private banks and loan and trust companies) from reports of condition at close of business June 23, 1915, together with a summary of reports of condition of the 12 Federal reserve banks as of June 25, 1915.

BANKING POWER OF THE UNITED STATES.

The banking power of the United States in June, 1915, was $25,397,100,000, as represented by capital, surplus and other profits, circulation and deposits of national and other reporting banks, together with the estimated amount of funds of this character in nonreporting banks, as of June 23, 1915, as well as the paid-in capital, net reserve deposits, and Federal reserve notes in circulation as shown by the statement of the Federal reserve banks as of June 25, 1915.

In June, 1914, the

estimated banking power of the United States was $24,340,000,000. The increase for the year was $1,057,100,000, The details are set forth in the following table: Banking power of the United States in June, 1915 and 1914.

or over 4.34 per cent.

SUMMARY

1 Includes dividends unpaid, postal savings, and Government deposits.
2 Estimated.

Total resources of nonreporting private banks estimated at $515,000,000.
4 Reserve deposits, net.

OF THE COMBINED RETURNS FROM NATIONAL BANKS, INCORPORATED STATE AND PRIVATE BANKS, AND LOAN AND TRUST COMPANIES AS OF JUNE 23, 1915.

The banks furnishing statements for use in connection with this report number 27,062, being 297 more than reported in 1914. The resources aggregate $27,804,129,677.56, against $26,971,398,030.96 reported in 1914, the increase being $832,731,646.60.

The summary following is based upon reports received from 7,605 national banks, 14,598 State banks, 630 mutual savings banks, 1,529 stock savings banks, 1,036 private banks, and 1,664 loan and trust companies. The reports from these banks are for the close of business. June 23, 1915, excepting those from the territorial banks in the island possessions, which are dated June 30, 1915.

Summary of reports of condition from 27,062 banks in the United States and island possessions (including national, State, savings, and private banks, and loan and trust companies), showing their condition at the close of business June 23, 1915.

Bills payable (including certificates of deposit representing money borrowed)....

Other liabilities..

Total liabilities...

$1,457, 702, 138.31 301, 600, 634.26 27,804, 129, 677.56

2, 162, 841, 369.93 1,732,918, 047.19 639, 777, 329.68 722, 703, 856.50 2,783, 312, 258.52 4,241, 968. 34

19, 135, 380, 200.45 48, 964, 257.51 59,771, 103.54 59, 451, 942. 15 166, 762, 025. 19 288,005, 318.56

27,804, 129, 677.56

1 Includes $74,058,500 gold certificates and 1fragment of a gold certificate in national banks.
Includes State, county, and municipal deposits.

* Includes other time deposits in national banks.

For the purpose of comparison, the number of reporting banks, loans, resources, capital, and individual deposits for the fiscal years 1907 to 1915, inclusive, are shown in the following table:

The following comparative statement shows the resources and liabilities of all reporting banks (exclusive of Federal reserve banks) for each year from 1911 to 1915, inclusive:

27,804.1

2, 162.8

19, 135.4

2 12

8 36.4

54.2

Aggregate resources and liabilities of national and other reporting banks, 1911 to 1915.

discounts..$12,982, 654, 651.03 $13, 892, 150, 639.00 $14, 568, 240, 544. 24 $15, 288, 357, 283.98 $15, 722, 440, 177.20 63,735, 193.87

Overdrafts...

Bonds stocks, and

Real estate,

furniture,

etc.1.

Checks and

61, 455, 604.59

58,532, 120.08

51, 120, 621.58

36,232, 421.03

5,051,856, 404.29 5,358,883,382.11 5,407,219,379.56 5,584,924,886. 48 5,881, 931,375.37

bankers.... 2,788, 772,572.47 2,847,992, 843.93 2,776, 613,692. 19 2,872,697, 225.26 3,233,942,829.39

616,693,997.78

657, 299, 660.36

695,507, 828.00

739, 679, 598. 08

793,404,941.00

The foregoing statistics show that the aggregate resources of the banks have increased from $23,631,083,382.67 in 1911 to $27,804,129,677.56 in 1915, a gain of $4,173,046,294.89, or nearly 18 per cent. The increase in bank resources, exclusive of the Federal reserve banks, during the past year has been 3.08 per cent, but including the resources of those banks is 4.50 per cent. The increase in 1914 over 1913 was 4.90 per cent; 1913 over 1912, 2.90 per cent; and 1912 over 1911, 5.73 per cent.

GROWTH OF BANKING IN THE UNITED STATES.

A table in volume 2 shows the number of colonial and State banks in the United States from 1784 to 1833, together with their principal items of resources and liabilities. A statement of the resources and liabilities of the banks of the country in detail from 1834 to 1863 will also be found in the same volume.