First Call

By law the U. S. Comptroller of the Currency is required to call for reports on the condition of all national banks at least three times a year. Until 1931, when every call became a banking nightmare, the Comptroller's call went out regularly at the end of each quarter. Last year no call was issued until June 30. Last week Comptroller James Francis Thaddeus O'Connor in the first call of the year asked for reports as of March 5. Since most banks might wish to furnish statements for the same day twelve months previous, Comptroller O'Connor was probably quite aware of the fact that the comparisons would be the best obtainable. The comparable business day of 1933 was Monday, March 6, first of the national banking moratorium.

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