Show NATIONAL BANKS A clear cre creck C 11 corr correspondent asks how a national bank la Is started also whether the government pays interest on oil tile money deposited A national bank may lie be organized by five or more persons not less than five in ili cities containing less than tha persons national banks may be organized with mith not less than capital in larser larger cities up to 0 people the janks banks must have nt at so least ast capital capita and six in cities having til or mole inhabitants the 1 capital must be at least at least leant one third ot of the capital must be invested in united states bonds which being deposited with the secretary or controller ot of the treasury Tr eaury lie orders circulating cu notes to tile the amount ot of SO 90 per cent ot of tile the bonds so deposited to be issued and delivered to the bank these notes are receivable at par in all payments to and from the government except for duties on imports interest on the public debt and in redemption of the national currency national banks in three of the large cities must keep a besera of 0 23 25 per cent in other cases of 13 15 per cent the for forc a going are the main features though acts ts passed since altice the othnal draft became it a law modify slightly some come details national banks are taxed only on their circulation tho the point idich tho life correspondent seems most desirous ot of knowing la Is that the bank by depositing say in united states bonds bondi draws bk back in notes to do business on and at the same time collects the interest on the bonds deposited |