1 With interest in full and 52.80 per cent to shareholders on capital stock.
With interest in full and rebate to shareholders.

With 69.35 per cent of interest.

4 With interest in full.

Restored to solvency.

CAUSES OF FAILURES.

Two hundred and twenty, or over one-third, of the 586 failures of national banks were attributable to criminal acts. In 44 of the 220 instances defalcation of officers was the cause; in 127 fraudulent management, and in 49 the banks were wrecked by cashiers or subordinate officers. Unlawful loans-that is, loans in excess of the statutory limit were the principal causes of 114 of the failures. In 62 of the 114 instances excessive loans were made to officers and directors and in 52 to others than officers and directors. Depreciation in the value of assets was the ascribed cause of 83 of the failures. Injudicious or careless banking was the cause of 139, or nearly onefourth of the total number, and the remaining 30 failures were ascribed to insolvency of large debtors, "runs," nonliquidity of assets, etc.

In the following table are shown the number and percentages of failures from principal causes.

Principal causes of failures of national banks.

National-bank failures, by fiscal years, July 1, 1881, to June 30, 1917.1

3-year period, July 1, 1914, to June 30, 1917.

463
37

73,218,320

177,157,559.66

139,880, 334.71

4,315,000

17, 204, 286. 11

11,609,009. 81

67.48

78.96 141,650, 122.40 16,040,526.57

79.96

93.24

35,507, 437.26 1,163,759.54

20.04 127,994,087,363.57 6.76 33,358,919,386.27

.028
.003

1 Complete statistics for the 17-year period from July 1, 1864 to June 30, 1881, can not be given, as no reports on deposits of 61 of the 84 failures can be found.
Includes 36 banks restored to solvency. Capital, $10,055,000, of 33 banks restored to solvency before the payment of dividends, to whose depositors there were no loss, and com-
plete statistics on 3 banks, total capital stock $430,000, restored to solvency after the payment of dividends of 100 per cent and interest, included in above table.
3 Dividends as paid to Sept. 1, 1917.

NOTE.-Failures as shown by "Report of the Comptroller of the Currency." Banks which closed and resumed business during the several report years prior to 1914 not included.