Word: bankes
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Dates: during 1920-1929
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...quite proud of the premier position of this bank, as it is the only bank north of San Francisco and west of Minneapolis which has deposits in excess of 50 million dollars...
...your issue of Nov. 2, p. 36, cols. 2 and 3, you quoted from the report of the Comptroller of the Currency as to national banks throughout the United States having deposits of fifty millions or more, but your report is in error in one respect at least: you mention the cities in which there is one or more national banks having deposits of fifty millions or more, but you do not mention the city of Portland, Ore. The writer is a director of The United States National Bank of Portland (Ore), which you will see from the inclosed condition...
Either a "drowsy reviewer" glanced over the bank deposit statistics as issued recently by the Comptroller of Currency or the Government gentleman forgot to include Miami in his report, which is quoted in your BUSINESS & FINANCE section in your issue...
...long-awaited trend toward higher money rates is at length plainly under way, at least so far as the Federal Reserve system is concerned. Until very recently the Reserve Banks of Boston, New York, Philadelphia, Cleveland and San Francisco were holding their rediscount rates at 3½%, while the remaining seven* maintained a 4% rate. Suddenly the Boston institution led off with an advance to 4% (TIME, Nov. 23), and Cleveland almost immediately followed suit. Then the Philadelphia Bank directors met behind closed doors, and afterwards refused to make any announcements about what they had done. New York and San Francisco...
...York Bank is apparently loath to raise its rate lest it cause a similar rise of the Bank of England rate from 4% to 4½%, to prevent export of British gold to the U.S. Also the Reserve system apparently feels that too much money is now being used in Wall Street, and that as a matter of policy financial speculation can be restrained by holding the New York Bank rate lower than rates of the other Banks, and thus forcing funds from New York to other U.S. centres...