Note 532 — Chapter XXIV
Reading edition
The term "commercial paper," as here used by Conant (whose source is the Comptroller's Report for 1904 and preceding years), doubtless includes a good many items which we have decided not to count as commercial paper. The item, "advances on securities," also includes some items other than stock exchange loans, but not a high percentage in New York City. In 1913 the figures for all reporting banks in New York City were: collateral loans, 1,070; "other loans," 658. Report of Comptroller, 1913, p. 779.