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FEDERAL RESERVE BOARD WASHINGTON address official correspondence to the federal reserve board August 20, 1924, St. 4ig4. SUBJECT: Condition of Member Banks as of June 30, 1924. Dear S i r : For your information there i s enclosed, herewith a preliminary statement regarding the condition of a l l member banks, combined as of June 30, 1924. The Board's abstract (No. 25) showing the detailed f i g u r e s f o r State bank and Trust company members and the combined figures f o r a l l member banks i s now in the hands of the p r i n t e r and w i l l be ready f o r d i s t r i b u t i o n in the near f u t u r e . Very t r u l y yours, J . C. Noell, Assistant Secretary. LETTER TO EACH FEDERAL RESERVE AGENT 1 881 CONDITION OF MEMBER BANKS AS OF JUNE }0, 1924. Condition r e p o r t s as of June 30, 1924, which, have now become a v a i l a b l e , i n d i cate t h a t t o t a l loans and investments of a l l member banks on t h a t d a t e were $27*262*000,000, marking a f u r t h e r increase of $4)0,000,000 over the record amount shown f o r March 31, 1924. The increase f o r the period was c h i e f l y i n the banks' investments which advanced by $342,000,000, while loans increased by $88,000,000. Of the growth in investments, $38,000,000 represented a d d i t i o n a l purchases of U. S. s e c u r i t i e s , and $304,000,000 - additions t o the banks' holdings of corporate obligations. A r a p i d growth of demand d e p o s i t s , Including c e r t i f i e d and c a s h i e r s ' checks, carried t h e i r t o t a l t o $16,293*000,000, the l a r g e s t amount on record, and time dep o s i t s increased to $9*203,000,000, a l s o a l a r g e r t o t a l than at any previous time. The attached t a b l e p r e s e n t s f i g u r e s showing t h e condition of s t a t e bank and t r u s t company members and of a l l member banks on June 30, 1924. The following statement shows changes in the p r i n c i p a l resources and l i a b i l i t i e s of a l l member banks on the l a s t c a l l date compared with three months and w i t h a year ago: Increase (+) or decrease ( - ) on June 30, 1924, since Loans and discounts (including o v e r d r a f t s ) United States s e c u r i t i e s Other bonds, stocks and s e c u r i t i e s Total loans and investments Demand d e p o s i t s (including c e r t i f i e d and c a s h i e r s ' checks) Time d e p o s i t s B i l l s payable and rediscounts Acceptances outstanding March 11. 1924 June 30. 1923 + $ 88,000,000 + 35,000,000 + 304,000,000 - + 465,000,000 + 430,000,000 + 587,000,000 + + + 1,132,000,000 + 825, OX, 000 570,000,000 60,000,000 - 707,000,000 313,000,000 242,000,000 108,000,000 + $ 384,000,000 262,000,000 ' 062 *** 2 ** EESOUBCES AND LIABILITIES OF STATE BANK AND TRUST COMPANY MEMBERS AND OF ALL MEMBER BANKS ON JUNE 30, 1924, All member banks S t a t e bank and t r u s t company members Loans and discounts (including overdrafts) U. S. s e c u r i t i e s Other bonds, stocks and s e c u r i t i e s $19,264,019,000 3,607.797, ooo 4,389tft3ยป,QQQ- $ 7,278,802,000 Total loans and investments 27,261,559,000 10,138,621,000 503,555,000 1,965,453,000 159,072,000 766,783,000 582,475,000 1,940,197,000 185,135,000 496,675,000 1,741,073,000 1,782,9#,000 739,795,000 735,902,000 35,777,256,000 13,221,983,000 15,306,999,000 9,203,545,000 178,946,000 983,979,000 5,720,242,000 3,944,831, oco 57,375,000 433,766,000 25,675,460,000 10,156,214,000 3,854,101,000 502,907,000 304,668,000 2,030,336,000 1,669,592,000 1,740,172,000 1,033,984,000 Cash i n v a u l t Reserve with F. R. Banks Items with Federal Reserve Banks in process of c o l l e c t i o n Due f r a n banks and bankers Exchanges f o r c l e a r i n g house, and checks on other banks i n same place All other rescurce s Total resources Demand d e p o s i t s Time d e p o s i t s U. S. d e p o s i t s C e r t i f i e d aid c a s h i e r s ' checks Total d e p o s i t s (other t h a n bank) Due to banks and bankers B i l l s payable and r e d i s c o u n t s Acceptances Capital stock paid i n Surplus All other l i a b i l i t i e s 1,129,358,000 1.750.461.000 162,282,000 155,896,000 697,075,000 589,669,000 426,863,000 ( S t . 4194)
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