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Is necessary to go back to November 1920,four years,Ĭommercial failures last month numbered 1,653Īnd the indebtedness was $31,123,910-during October there were 1,696 similar defaults for $36,098,804Īnd in November 1923, 1,704, with liabilities of $50,-Ģ91,708. With the exceptions of June and September 1923, it The amount reported for November this year, and In the defaults of last month, not since Septemberġ923 have the liabilities of any one month been below Than those of the preceding month, and November November business defaults were more numerous In November 1923, whereas the tendency during theĬlosing months of the year is usually in the oppositeĭirection. Were fewer failures last month than in October, or Dun & Co., is somewhat more favorable,īoth as to number and as to the amount of indebtedness involved, than for several years past. States for the month of November, issued this weekīy R. The report of business failures in the United His services even for a short time, during which he That it has been possible to have had the benefit of There is at the same time reason for congratulation Sorry over the loss of such a valuable public servant, While everyone conversant with the facts must feel sincerely To read the report itself, extensive abstracts from Dawes's last report, the reader is advised Also, that branch banking is inconsistent with the American idea of local self-governmentĪnd Federal co-ordination. Human element and moral responsibility are largelyĮliminated. Opposed to public policy as being in its essence monopolistic, but also that branch banking is absenteeīanking, and that through absentee control the He tells us not only that branch banking is Striking and telling language in which he presents Singularly happy in the points he makes and the The subject again in his present report, and he is Of the country's system of independent banks wouldĪlone entitle him to lasting credit. His opposition to branch banking and his defense Inestimable services the Comptroller could render. Wholly illogical and indefensible such a course That talk ceased immediately Mr.ĭawes entered the office and made it apparent how The Comptroller an appendage of the Federal Reserve Board. The office, there had been more or less talk of making His administration of the office he has had only a single object, namely to safeguard and strengthen the Two reports without gaining the conviction that in His resignation is coincident with the appearance of his secondĪnnual report to Congress, and no one can read these This last is the point we wish to stress. He has already made important sacrificesĪnd he has also rendered invaluable services. Dawes is offered greater opportunities elsewhere, he is not to lie blamed if he wishes to avail of That period it has never had a more valiant champion of its interests nor one more unselfishly devotedĪs Mr. System has been in existence over sixty years, andĭuring that time there have been identified with itĪs Comptroller of Currency many men of great ability and distinction.
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Short space has made an impression upon it that weĪre sure will prove enduring. Office of Comptroller less than two years, but in this That he may accept a position, presumably more remunerative, in private life. That he contemplates resigning his office, in order To the announcement that Comptroller of the Currency.Henry M. Has also been one piece of intelligence that furnishes occasion for keen regret.
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Report-the fact should not be overlooked that there Message and Secretary Mellon's able and convincing Washington this week-the President's admirable Has come from the Government departments at In the general satisfaction felt over the news that President and Editor, Jacob Seibert: HUslnese Manager. Published every Saturday morning by WILLIAM B. Cįront, Pine and Depeyster Streets, New York LONDON OFFICE-Edwards & Smith, 1 Drapers' Gardens, London. Gray, Business Representative,ġ9 South La Salle Street, Telephone State 5594. STATE AND MUNICIPAL(semi-annually.) BANKERS' CONVENTION (yearly.)ĬHICAGO OFFICE-In charge of Fred. Subscription includes following Supplements. Remittances for European subscriptions and advertisements must be made NOTICE.-On account of the fluctuations in the rates of exchange, Within Continental United States except Alaska
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