Book Description

Excerpt from Annual Report of the Commissioner of Banks for the Year Ending October 31, 1931, Vol. 1: Relating to Savings Banks and Institutions for Savings The steady decrease in recent years in the number Of others than banks licensed to receive deposits of money for transmission to foreign countries and for safe keeping, commonly called private bankers, has continued through the past year. NO new licenses have been issued during this period. On October 31, 1928, there were eighteen persons, partnerships and corporations licensed to receive deposits of money for transmission, eight of whom were also licensed to receive deposits for safe keeping. The peak of this class of banking during the last decade came in 1920, at which time there were eighty-three licensed to receive deposits for transmission, Of whom fifty-six were also licensed to receive deposits for safe keeping. The decline in the amount of business transacted by these bankers is illustrated by the following comparison. On October 31, 1920, the amount of deposits held for safe keeping was as compared with on the same date in 1928. The amount transmitted by licensees for the year ending October 31, 1920, was as compared with for the year ending October 31, 1928. During the year ending October 31 1928, there has been a decrease Of eight in the number of those receiving deposits for safe keeping. One was converted into a trust company, four surrendered their licenses and discontinued the business, and three were placed in the hands of receivers. Since that date. One has sur rendered his license, and it became necessary to revoke the license of another and apply for the appointment of a receiver, thus further reducing the figures given. With one exception all of those now licensed to receive deposits of money for safe keeping have been engaged in this business for several years. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.