NORMS AND TRENDS IN NET EARNINGS 149
mentioned. Whatever details are omitted the reader can supply
for himself, but his interpretation, as ours, must be made in
the light of the manner in which the chart is constructed.” With
these facts in mind, the following general conclusions may be
drawn from Chart 37:
1. While the rates of change from year to year and over the
whole period 1919-1925, for the two groups of banks, are more
alike within than between districts, there is in general for both
types in each and in all districts, (1) a decrease between 1919
and 1925, (2) a more rapid decrease in the earlier than in the
later years of the period, (3) reversals of direction and rates of
change from year to year, (4) more rapid rises and falls in state
than in national members, and (5) an accelerated fall especially
in state banks between 1920 and 1921 or 1922.
2. The rates of change from year to year and over the whole
period are relatively least for both sets of institutions in New
York, Philadelphia, Cleveland, Chicago, and St. Louis; from
year to year they are relatively greatest in Atlanta and Kansas
City; and over the whole period they are most pronounced in
Minneapolis and in San Francisco.
3. The greatest decline occurred between 1920 and 1921, the
rates for state banks being largest in Richmond, Kansas City, and
Dallas, and those in all districts, except Boston and New York,
following the prevailing movement. Between these two years,
the rates for national banks, except Boston and Philadelphia,
declined in all districts, the decline, however. being generally less
than for state members.
At various places in the foregoing discussion of net earnings
for all member, for national, and for state member banks, out-
standing norms and trends have been briefly summarized. It is
unnecessary to repeat what has already been said. It will suf-
fice, as a closing word to this chapter, to call the reader’s atten-
tion to the fact that, in the matter under discussion, substantial
uniformities obtain, and that the chief purpose of the study is
to point them out, to express them quantitatively, and if possible
to explain their occasion and significance.
7 See page 21.
