Deposits

The principal form of competition among banks takes the form of acquiring deposits. Some deposits represent cash left in the bank by depositors for convenience and safekeeping; other deposits are created as the result of credits established for borrowers at the bank. In any case, the bank with the largest deposits is presumably the institution with the largest income and the most active business.

Recent statistics (as of Sept. 28 last), issued by the office of the

Controller of the Currency, showed the deposits in our national banks. The ten leaders were:

National City Bank (N. Y.)....-$824,201,000

Chase National (N. Y.) 466,784,000

National Bank of Commerce

(N. Y.) 437,586,000

Continental & Commercial

(Chi.) 416,344,000

First National (N. Y.) 312,381,000

First National (Boston) 275,754,000

Mechanics & Metals (N. Y.).... 271,760,000

First National (Chi.) 254,545,000

Chatham & Phoenix (N. Y.).... 218,052,000 American Exchange-Pacific (N. Y.) 191,271,000

On Sept. 28, 40 other national banks had deposits of over 50 millions each. Of these, twelve were situated in New York, five in Philadelphia, four in Chicago, four in Boston, two in Pittsburgh, two in St. Louis, two in Detroit, two in San Francisco, two in Minneapolis, one each in Milwaukee, Los Angeles, St. Paul, Atlanta, Buffalo.

*On June 30 last, the National City Bank had even greater deposits--$910,903,000.