UNITED STATES HISTORICAL DATA ON BANK MARKET STRUCTURE, 1896-1955 (ICPSR 2393) Principal Investigator Mark D. Flood Concordia University, Montreal First ICPSR Version April 1998 Inter-university Consortium for Political and Social Research P.O. Box 1248 Ann Arbor, Michigan 48106 - BIBLIOGRAPHIC CITATION Publications based on ICPSR data collections should acknowledge those sources by means of bibliographic citations. To ensure that such source attributions are captured for social science bibliographic utilities, citations must appear in footnotes or in the reference section of publications. The bibliographic citation for this data collection is: Flood, Mark D. UNITED STATES HISTORICAL DATA ON BANK MARKET STRUCTURE, 1896-1955 [Computer file]. ICPSR version. Montreal, Quebec: Mark D. Flood, Concordia University [producer], 1998. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 1998. REQUEST FOR INFORMATION ON USE OF ICPSR RESOURCES To provide funding agencies with essential information about use of archival resources and to facilitate the exchange of information about ICPSR participants' research activities, users of ICPSR data are requested to send to ICPSR bibliographic citations for each completed manuscript or thesis abstract. Please indicate in a cover letter which data were used. DATA DISCLAIMER The original collector of the data, ICPSR, and the relevant funding agency bear no responsibility for uses of this collection or for interpretations or inferences based upon such uses. - DATA COLLECTION DESCRIPTION Mark D. Flood UNITED STATES HISTORICAL DATA ON BANK MARKET STRUCTURE, 1896-1955 (ICPSR 2393) SUMMARY: This collection consists of annual statewide aggregates for a variety of bank market structure variables in the United States. The data span 60 years from 1896 to 1955 and include information for all 50 states. These time-series data, collected in 1992-1994, pertain to historical bank market structure, soundness, and performance. Balance sheet data are presented for national and non-national banks, while income statement data are available only for national banks. Other variables include state population, state branching law, total loans, total deposits, number of national banks, and bank debits. NOTE: (1) The first record of the dataset contains the titles for the 3,060 cases. (2) This collection has not been processed by ICPSR staff. ICPSR is distributing the data and documentation for this collection in essentially the same form in which they were received. When appropriate, hardcopy documentation has been converted to machine-readable form and variables have been recoded to ensure respondents' anonymity. File Structure: rectangular Cases: 3,060 Variables: 92 Record Length: 817 Records Per Case: 1 U.S. HISTORICAL DATA ON BANK MARKET STRUCTURE -- Mark D. Flood The data set is a collection of annual, statewide aggregates for a variety of bank market structure variables. Thus, each record (i.e., each row) in the database is uniquely identified by the values of the ST (state) and YEAR variables. The data span the 60 years from 1896 to 1955, and the 50 states (including the territories of Alaska and Hawaii) plus the District of Columbia. There are therefore 3061 (i.e., 51x60, plus one record containing titles) records in the database. The record length is 817 columns. The data base is sorted in ascending order by year, and then, within each year, in ascending alphabetical order by state code. The first record contains the titles of each data series; the data themselves occupy all subsequent records. Titles for the data series have the following naming convention: titles for data on all banks begin with A_ (e.g., A_TOTASS is total assets for all banks in the state); titles for data only on commercial banks begin with C_; titles for data only on national banks begin with N_. Except for the item ST, all data are integers. Missing observations are recorded as negative numbers (either -3 or -1). An entry of -3 indicates that an attempt was made to locate this datum, and that, as far as I can tell, the number is not available. An entry of -1 indicates that no serious attempt has yet been made to find and input the item; the number may or may not be available. If a cell is left blank, this means that the variable was reported for that year, but no observation was reported for that particular state (this is a common occurence with some of the series taken from the Comptroller's reports). Aggregate balance sheet data are taken from All Bank Statistics. They are calendar-year-end observations. There is considerable variation across states and over time in the legal and institutional structure of banking, as well as in regard to data availability. This is particularly true of the data regarding non-national banks. The original text contains extensive notes for each state, describing data availability problems, adjustments made to the data, institutional peculiarities, etc. It is strongly recommended that the user of these data consult the notes in All Bank Statistics before using the data. Income statement data are generally available only for national banks. The numbers reported here come from the Annual Reports of the Comptroller of the Currency. Data reported here are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR; prior to 1907, the fiscal year ended on August 31. Therefore, 1907 figures are for the 10 months ending June 30, 1907. In any case, the balance sheet observations from All Bank Statistics for a given year (say, YEAR=1924) are a snapshot taken at the midpoint of the 12-month income-statement cycle reported the following year (YEAR=1925). (More exactly, after 1907 the balance sheet observation occurs at the midpoint of the fiscal year, and before 1907 it occurs 4 months into the fiscal year; for the transition year of 1907, the balance sheet observation for YEAR=1906 occurs 4 months into the 10-month income-statement cycle for YEAR=1907.) If you find any errors or typos, or can help fill gaps in the data, please contact: Mark D. Flood Dept. of Finance and Business Law Univ. of N. Carolina at Charlotte 9201 University City Blvd. Charlotte, NC 28223-0001 USA mdflood@email.uncc.edu -------------------------------------------------------- 1 ST State Columns: 1-2 Source: No particular source for this variable Notes: Includes the territories of Alaska and Hawaii, and the District of Columbia. State abbreviations are the standard two-letter U.S. Postal Service abbreviations. 2 YEAR Year Columns: 3-7 Source: No particular source for this variable Notes: All data are reported on a calendar year basis. 3 POPULA State population Columns: 8-16 Source: U.S. Census, as reported in Microsoft Bookshelf 1994 Almanac Notes: Decennial figures (e. g., 1900, 1910, etc.) are the standard census enumerations. There are very few state-level enumerations between the decennial censuses for most of the pre-WWII period. For the intercensus years, the state population is a simple log-linear interpolation, based on the two census enumerations that bracket the year. For example, if the population of state S in year Y is denoted P(S,Y), then the population of Alabama in 1917 is gotten by P(AL,1917) = P(AL,1910)exp(7r), where the growth rate, r (assumed to be constant over the decade), is calculated as r = [ln(P(AL,1920)) - ln(P(AL,1910))]/10. Each state and each decade is thus assumed to be independent. For states with low growth rates, the log-linear interpolation approximates a linear interpolation. The constant growth rate assumption may have at least two shortcomings: (a) it can produce kinks in the time series at the start of a new decade; and (b) it fails to account for large and abrupt demographic factors, such as changes in immigration policy or the influenza epidemic of 1918. 4 INCOME State personal income Columns: 17-25 Source: Easterlin ??? (triannual average state personal income estimates for the period 1919-21); Historical Statistics of the United States (annual national personal income); Standard Statistics Co., Statistical Bulletin -- Base Book section (see item 90, A_DEBITS, below); U.S. Census (annual state population estimates; see item 3, POPULA, above); Survey of Current Business, 1956 supplement, p. 142 (annual state per capita personal income estimates fo 1929-32). Notes: This series is largely an interpolation, as direct annual measures of state income (however defined) are not available on an annual basis for most of this period. Personal income was chosen, simply because some data were available as a starting point for interpolation. For 1920-30, the interpolation exploits the availability of the bank debits series, under the maintained assumption that the ratio of personal income to the bank debits index is a constant over time within a given state: G(t+T)=aI(t+T), where G(t) is income and I(t) is the debits index for year t. Under this assumption, it is straightforward to forecast from Easterlin's estimate: a=3{[G(1919)+G(1920)+G(1921)]/3}/[I(1919)+I(1920)+I(1921)], where the factor in curly braces is Easterlin's estimate. Similarly, a rearcast was constructed from the end of the decade numbers (population x per capita personal income). For the rearcast, a biannual average for the 1930-31 period was constructed for each state (a la Easterlin), to reduce the idiosyncratic effects of a specific year. Both the annual forecasts and rearcasts were then rescaled, so that the sum across states for a given year equalled the national total for personal income, as reported in the Survey of Current Business (1956). Finally, the rescaled forecasts, GF(t), and rearcasts, GR(t), were combined in a weighted average for each year: G*(t)=b(t)GF(t)+[1-b(t)]GR(t), where b(t) declines linearly from b(1920)=1 to b(1930)=0. Because the interpolations depend on the A_DEBITS series, the caveats that apply to Vermont and Mississippi for that series carry over here. Also, for values of the bank debits index are unavailable for 8 other states in 1919 (AZ, ME, ND, NH, NJ, SD, WV and WY, plus MS and VT). For those states, the estimate of the proportionality factor, a, used in the forecasts is: a = 2{[G(1920)+G(1921)]/2}/[I(1920)+I(1921)], where Easterlin's triannual average is used as a proxy for the biannual average in the numerator. For 1931-32, the estimate comes directly from the per capita income figures (POPULA x annual statewide per capita income), rescaled so that the state totals add up to the national total as reported in the Survey of Current Business (1956). 5 BRANCH State branching law Columns: 26-34 Source: ??? 6 NOFACIL Number of banking facilities in the state Columns: 35-43 Source: ??? 7 N_TOTLN Total loans Columns: 44-52 Source: All Bank Statistics Notes: 8 N_TOTRE Total real estate loans Columns: 53-61 Source: All Bank Statistics Notes: From 1939 onward, real estate loans reported in All Bank Statistics are broken down into three subcategories (farm, residential and other). For this later period, total real estate loans are calculated as the sum of the three reported subcategories. 9 N_REFRM Real estate loans - farm Columns: 62-70 Source: All Bank Statistics Notes: All Bank Statistics did not report this series prior to 1939. 10 N_RERES Real estate loans - residential Columns: 71-79 Source: All Bank Statistics Notes: All Bank Statistics did not report this series prior to 1939. 11 N_REOTH Real estate loans - other Columns: 80-88 Source: All Bank Statistics Notes: All Bank Statistics did not report this series prior to 1939. 12 N_COLLAT Collateral loans Columns: 89-97 Source: All Bank Statistics Notes: 13 N_OTHLN All other loans Columns: 98-106 Source: All Bank Statistics Notes: 14 N_OTHLNI Other loans to individuals Columns: 107-115 Source: All Bank Statistics Notes: 15 N_TOTINV Total investments Columns: 116-124 Source: All Bank Statistics Notes: 16 N_GOVTSEC Gov't securities Columns: 125-133 Source: All Bank Statistics Notes: All Bank Statistics reports series on the securities holdings of banks, including U.S. Gov't securities and State and local obligations. The series reported here is backed out by calculating the difference between items 15 and 18: N_GOVTSEC = N_TOTINV - N_OTHSEC. Separate numbers for a) U.S. Gov't and b) State and local securities are available in All Bank Statistics, but were not input here. 17 N_OTHSEC Other securities Columns: 134-142 Source: All Bank Statistics Notes: 18 N_CASH Cash assets (reserves + currency + collection items) Columns: 143-151 Source: All Bank Statistics Notes: 19 N_OTHASS Other assets Columns: 152-160 Source: All Bank Statistics Notes: 20 N_TOTASS Total assets Columns: 161-169 Source: All Bank Statistics Notes: 21 N_TOTDEP Total deposits Columns: 170-178 Source: All Bank Statistics Notes: 22 N_DEPIBK Interbank deposits Columns: 179-187 Source: All Bank Statistics Notes: 23 N_DEPGOVT U.S. Gov't deposits Columns: 188-196 Source: All Bank Statistics Notes: 24 N_DEPOTHD Other demand deposits Columns: 197-205 Source: All Bank Statistics Notes: 25 N_DEPOTHT Other time deposits Columns: 206-214 Source: All Bank Statistics Notes: 26 N_BORR Borrowings Columns: 215-223 Source: All Bank Statistics Notes: 27 N_BKNOTES National bank notes Columns: 224-232 Source: All Bank Statistics Notes: 28 N_OTHLIAB Other liabilities Columns: 233-241 Source: All Bank Statistics Notes: 29 N_CAP Capital Columns: 242-250 Source: All Bank Statistics Notes: 30 N_SURP Surplus Columns: 251-259 Source: All Bank Statistics Notes: 31 N_TOTLIAB Total liabilities and equity Columns: 260-268 Source: All Bank Statistics Notes: 32 N_NOBNKS Number of national banks Columns: 269-277 Source: All Bank Statistics Notes: 33 A_TOTLN Total loans Columns: 278-286 Source: All Bank Statistics Notes: 34 A_TOTRE Total real estate loans Columns: 287-295 Source: All Bank Statistics Notes: From 1939 onward, real estate loans reported in All Bank Statistics are broken down into three subcategories (farm, residential and other). For this later period, total real estate loans are calculated as the sum of the three reported subcategories. 35 A_REFRM Real estate loans - farm Columns: 296-304 Source: All Bank Statistics Notes: All Bank Statistics did not report this series prior to 1939. 36 A_RERES Real estate loans - residential Columns: 305-313 Source: All Bank Statistics Notes: All Bank Statistics did not report this series prior to 1939. 37 A_REOTH Real estate loans - other Columns: 314-322 Source: All Bank Statistics Notes: All Bank Statistics did not report this series prior to 1939. 38 A_OTHLNI Other loans to individuals Columns: 323-331 Source: All Bank Statistics Notes: 39 A_TOTINV Total investments Columns: 332-340 Source: All Bank Statistics Notes: 40 A_GOVTSEC Gov't securities Columns: 341-349 Source: All Bank Statistics Notes: All Bank Statistics reports series on the securities holdings of banks, including U.S. Gov't securities and State and local obligations. The series reported here is backed out by calculating the difference between items 39 and 41: A_GOVTSEC = A_TOTINV - A_OTHSEC. Separate numbers for a) U.S. Gov't and b) State and local securities are available in All Bank Statistics, but were not input here. 41 A_OTHSEC Other securities Columns: 350-358 Source: All Bank Statistics Notes: 42 A_CASH Cash assets (reserves + currency + collection items) Columns: 359-367 Source: All Bank Statistics Notes: 43 A_OTHASS Other assets Columns: 368-376 Source: All Bank Statistics Notes: 44 A_TOTASS Total assets Columns: 377-385 Source: All Bank Statistics Notes: 45 A_TOTDEP Total deposits Columns: 386-394 Source: All Bank Statistics Notes: 46 A_DEPIBK Interbank deposits Columns: 395-403 Source: All Bank Statistics Notes: 47 A_DEPGOVT U.S. Gov't deposits Columns: 404-412 Source: All Bank Statistics Notes: 48 A_DEPOTHD Other demand deposits Columns: 413-421 Source: All Bank Statistics Notes: 49 A_DEPOTHT Other time deposits Columns: 422-430 Source: All Bank Statistics Notes: 50 A_BORR Borrowings Columns: 431-439 Source: All Bank Statistics Notes: 51 A_BKNOTES National bank notes Columns: 440-448 Source: All Bank Statistics Notes: 52 A_OTHLIAB Other liabilities Columns: 449-457 Source: All Bank Statistics Notes: 53 A_CAP Capital Columns: 458-466 Source: All Bank Statistics Notes: 54 A_SURP Surplus Columns: 467-475 Source: All Bank Statistics Notes: 55 A_TOTLIAB Total liabilities & equity Columns: 476-484 Source: All Bank Statistics Notes: 56 A_NOBNKS No. of banks Columns: 485-493 Source: All Bank Statistics Notes: 57 N_INTD Interest and discount Columns: 494-502 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1918-1926, "Interest and discount" 1927, "Interest and discounts on loans" + "Interest (including dividends) on investments" + "Interest on balances with other banks" + "Interest not classified" 1928-1932, "Interest and discounts on loans" + "Interest (including dividends) on investments" + "Interest on balances with other banks" 1933-1938, "Interest and discounts on loans" + "Interest and dividends on bonds, stocks, and other securities" + "Interest on balances with other banks" Note that for 1927 only, there is an additional category, "Interest not classified". 58 N_INTDLN Interest and discounts on loans Columns: 503-511 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. This series is available only after 1926. It, together with N_INTDINV (item 59) and N_INTIBK (item 60) is a component of N_INTD (item 57). 59 N_INTDINV Interest (including dividends) on investments Columns: 512-520 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1927-1932, "Interest (including dividends) on investments" 1933-1938, "Interest and dividends on bonds, stocks, and other securities" This series is available only after 1926. It, together with N_INTDLN (item 58) and N_INTIBK (item 60) is a component of N_INTD (item 57). 60 N_INTIBK Interest on balances with other banks Columns: 521-529 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. This series is available only after 1926. It, together with N_INTDLN (item 58) and N_INTDINV (item 59) is a component of N_INTD (item 57). 61 N_XCCOLL Exchange and collection charges Columns: 530-538 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 62 N_FXPROF Profits of foreign exchange department Columns: 539-547 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 63 N_INSUR Commissions and earnings from insurance premiums and the negotiation of real estate loans Columns: 548-556 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 64 N_TRUST Trust department profits Columns: 557-565 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 65 N_SECPROF Profits on securities sold Columns: 566-574 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 66 N_OTHEARN Other earnings Columns: 575-583 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 67 N_GRSEARN Total gross earnings Columns: 584-592 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR; prior to 1907, the fiscal year ended on August 31. Therefore, 1907 figures are for the 10 months ending June 30, 1907. Data are in measured in thousands of dollars. 68 N_SALARY Salaries and wages Columns: 593-601 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 69 N_INTDBOR Interest and discount on borrowed money Columns: 602-610 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 70 N_INTDEP Interest on deposits Columns: 611-619 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1918-1926, "Interest on deposits" 1927, "Interest on bank deposits" + "Interest on demand deposits" + "Interest on time deposits" + "Interest not classified" 1928-1932, "Interest on bank deposits" + "Interest on demand deposits" + "Interest on time deposits" 1933-1938, "Interest on deposits of other banks" + "Interest on other demand deposits" + "Interest on other time deposits" Note that for 1927 only, there is an additional category, "Interest not classified". 71 N_INTBKD Interest on bank deposits Columns: 620-628 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1927-1932, "Interest on bank deposits" 1933-1938, "Interest on deposits of other banks" This series is available only after 1926. It, together with N_INTDD (item 72) and N_INTTD (item 73), is a component of N_INTDEP (item 70). 72 N_INTDD Interest on demand deposits Columns: 629-637 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1927-1932, "Interest on demand deposits" 1933-1938, "Interest on other demand deposits" This series is available only after 1926. It, together with N_INTBKD (item 71) and N_INTTD (item 73), is a component of N_INTDEP (item 70). 73 N_INTTD Interest on time deposits Columns: 638-646 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1927-1932, "Interest on time deposits" 1933-1938, "Interest on other time deposits" This series is available only after 1926. It, together with N_INTBKD (item 71) and N_INTDD (item 72), is a component of N_INTDEP (item 70). 74 N_TAX Taxes Columns: 647-655 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 75 N_OTHEXP Other expenses Columns: 656-664 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 76 N_TOTEXP Total expenses paid Columns: 665-673 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR; prior to 1907, the fiscal year ended on August 31. Therefore, 1907 figures are for the 10 months ending June 30, 1907. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1914-1917, "Charged off: Expenses and taxes". 1918-1919, "Expenses paid: Total expenses paid". 1920-1932, "Expenses: Total expenses paid". 1933, "Expenses: Total current expenses" (in the Comptroller's report for 1933 there is a separate category entitled, "Withdrawals from reserves for expenses of previous periods accrued and unpaid"; this variable was not input here). 1934-1935, "Expenses: Total expenses". 77 N_RECCOA Recoveries on charged-off assets Columns: 674-682 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 78 N_RECLD Recoveries on loans and discounts Columns: 683-691 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 79 N_RECSEC Recoveries on bonds, securities, etc. Columns: 692-700 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 80 N_CHGLN Charge-offs: On loans and discounts Columns: 701-709 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 81 N_CHGSEC Charge-offs: On bonds, securities, etc. Columns: 710-718 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 82 N_CHGFIX Charge-offs: On banking house, furniture, and fixtures Columns: 719-727 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 83 N_CHGTRU Charge-offs: On trust department operations Columns: 728-736 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. This series is reported by the Comptroller only for the period 1924-1927. 84 N_OTHLOSS Charge-offs: Other losses Columns: 737-745 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 85 N_CHGFX Charge-offs: On foreign exchange Columns: 746-754 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR. Data are in measured in thousands of dollars. 86 N_CHGTOT Total losses charged off Columns: 755-763 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR; prior to 1907, the fiscal year ended on August 31. Therefore, 1907 figures are for the 10 months ending June 30, 1907. Data are in measured in thousands of dollars. For this series, the column headings in the Comptoller's reports are as follows: 1914-1916, "Charged off: Losses and premiums". 1917, "Charged off: Losses etc.". 1918-1926, "Losses charged off: Total losses charged off". 1927-1932, "Losses and depreciation charged off: Total losses charged off". 1933, "Losses and depreciation: Total current period" (in the Comptroller's report for 1933 there is a separate category entitled, "Withdrawals from reserves for depreciation of previous periods on real estate"; this variable was not input here). 1934-1935, "Losses and depreciation: Total". 87 N_DIVID Dividends Columns: 764-772 Source: Annual Report of the Comptroller of the Currency Notes: Income statement data are for the fiscal year. After 1906, the fiscal year was the 12 months ending June 30 of YEAR; prior to 1907, the fiscal year ended on August 31. Therefore, 1907 figures are for the 10 months ending June 30, 1907. Data are in measured in thousands of dollars. 88 N_FAIL Suspensions of national banks Columns: 773-781 Source: Banking and Monetary Statistics Notes: Data are available in Banking and Monetary Statistics only for the years 1921-1941. Numbers for other years may be available elsewhere, for example in the Annual Reports of the Comptroller of the Currency. 89 C_FAIL Suspensions of commercial banks Columns: 782-790 Source: Banking and Monetary Statistics Notes: Data are aggregates for all commercial banks, including national banks. Data are available in Banking and Monetary Statistics only for the years 1921-1941. 90 N_FAILASS Loans and investments in suspended national banks Columns: 791-799 Source: E. Goldenweiser, Bank Suspensions in the United States, Federal Reserve Board, typescript, 1933, appendix, table VI. Notes: Amounts are in $1,000s. Goldenweiser does not explicitly note the source of these data in his table VI, but in notes to his table I he mentions schedules prepared by both the Committee on Branch, Chain, and Group Banking, and by the Federal Reserve Board. In his words, "suspension" as used by both the Board and the Committee is defined as "... all banks closed to the public either temporarily or permanently by supervisory authorities or by boards of directors on account of financial difficulties. The figures do not include banks closed temporarily under special 'moratorium' holidays declared by civil authorities, nor banks which, without cessation of business, obtained depositors' agreements for the waiver or deferment of deposits." 91 C_FAILASS Loans and investments in suspended national and state banks Columns: 800-808 Source: E. Goldenweiser, Bank Suspensions in the United States, Federal Reserve Board, typescript, 1933, appendix, table VI. Notes: Amounts are in $1,000s. Goldenweiser does not explicitly note the source of these data in his table VI, but in notes to his table I he mentions schedules prepared by both the Committee on Branch, Chain, and Group Banking, and by the Federal Reserve Board. In his words, "suspension" as used by both the Board and the Committee is defined as "... all banks closed to the public either temporarily or permanently by supervisory authorities or by boards of directors on account of financial difficulties. The figures do not include banks closed temporarily under special 'moratorium' holidays declared by civil authorities, nor banks which, without cessation of business, obtained depositors' agreements for the waiver or deferment of deposits." 92 A_DEBITS Bank debits Columns: 809-817 Source: Standard Statistics Co., Statistical Bulletin -- Base Book section Notes: Data are total bank debits for each state for each year, useful as a proxy measure of annual nominal state income (see item 4, INCOME, above). It is unclear whether the year is the fiscal or calendar year (if anyone knows, please drop me a line!). Debits are stated as an index, relative to a base period index for each state: 1920-1924 = 100. Standard Statistics split the data for NY into two series, one for New York City, and the other for the rest of the state; the upstate series is reported here. Data are missing altogether for AK, DC, HA and VT. Data are missing for 1919-21 for MS. For VT, the index was approximated each year as the simple average of the index values for the three neighboring states (MA, NH and NY). For MS, the 1919-21 values were set equal to the AL values for those years, since AL is the neighboring state whose values most closely match MS's in the remainder of the sample. 1919 data are missing for 10 states (AZ, ME, ND, NH, NJ, SD, WV and WY, plus MS and VT).