438 WILLIAM P. GEST 



is the case — that Pennsylvania is far ahead of the other states 

 in the number of incorporations. 



New York state has 78 j Pennsylvania has 210. From 

 Mr. Perrine's figures I have made up the following table of 

 states : 



Pennsylvania 210 Washington (State) 9 



New York 78 Rhode Island 9 



New Jersey 56 Louisiana 6 



Indiana 47 Minnesota 6 



Illinois 37 New Hampshire 6 



Ohio 36 Mississippi 6 



Massachusetts 35 Nebraska 6 



Tennessee 30 Kansas 5 



Missouri 23 Michigan 5 



Iowa 22 Washington, D. C 4 



Maine 20 Wisconsin 4 



West Virginia 19 Arizona 4 



Vermont 19 Delaware 3 



Texas 19 Montana 3 



Virginia 18 Oregon 3 



Kentucky 18 Florida 3 



Georgia 16 South Dakota 3 



California 16 Oklahoma 3 



Maryland 16 Utah 2 



Connecticut 15 Idaho 2 



North Carolina 13 New Mexico 2 



Arkansas 12 North Dakota 2 



Indian Territory 10 Nevada 1 



South Carolina 10 



Alabama 10 Total 912 



Colorado 10 



The causes which have fostered the growth of these com- 

 panies in Pennsylvania are unquestionably their early origin 

 and the favorable statutes conferring so many different powers. 



The figures bear no sort of proportion to the banking 

 capital of the cities mentioned. New York, Philadelphia, Chi- 

 cago, St. Louis and Jersey City all have more trust companies 

 than national banks, and in Brooklyn, Cleveland, Newark, 

 Jersey City and Providence trust companies' resources exceed 

 those of the national banks. 



The largest trust company in the United States is, I be- 

 lieve, the Illinois Trust and Savings bank, whose aggregate re- 

 sources were, in June, 1904, $90,913,567.44. The largest in 

 New York and I believe the next largest in the United States 

 is the United States Trust company, whose aggregate resourc- 

 es on the same date were $73,036,781.57. It will help us to 

 appreciate the tremendous growth shown by these figures 

 to recall that the national debt after the Revolution was about 



